1996 J.K. LEATHERITE LIMITED AUDITOR'S REPORT We have audited the attached Balance Sheet of J.K. LEATHERITE LIMITED, BADDI ( H.P. ) as at March 31, 1996 and the Profit and Loss Account for the year ended on that date, annexed thereto, and report that : We report that : a) We have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit; b) In our opinion proper books of account as required by law have been kept by the company. So far as appears from our examination of the books of the Company. c) The Balance Sheet and Profit and Loss Account referred to in this report are in agreement with the books of account; d) In our opinion and to the best of our information and according to the explanations given to us, the said Balance Sheet and Profit and Loss Account read together with the notes thereon, give the information required by the Companies Act, 1956, in the manner so required and give a true and fair view : 1. In the case of Balance Sheet, of the state of affairs of the Company as at March 31, 1996, and 2. In the case of Profit and Loss Account, of the Loss of the Company for the year ended March, 31, 1996. For R.P. GUPTA & ASSOCIATES Chartered Accountants (R.P. GUPTA) Proprietor Place : Jalandhar City ( Punjab) Dated : 26th June, 1996.