TO THE MEMBERS OF SUBH TEX (INDIA) LIMITED

Report on the Financial Statements

We have audited the accompanying standalone financial statements of SUBH TEX (INDIA)LIMITED ('the Company') which comprise the Balance Sheet as at 31^st March2018 the Statement of Profit and Loss and Statement for the year then ended and a summaryof significant accounting policies and other explanatory information.

Management's Responsibility for the Financial Statements

The Company's Board of Directors is responsible for the matters stated in Section134(5) of the Companies Act 2013 ("the Act") with respect to the preparationand presentation of these standalone financial statements that give a true and fair viewof the financial position financial performance of the Company in accordance with theaccounting principles generally accepted in India including the Accounting Standardsspecified under Section 133 of the Act read with Rule 7 of the Companies (Accounts)Rules 2014. This responsibility also includes maintenance of adequate accounting recordsin accordance with the provisions of the Act for safeguarding the assets of the Companyand for preventing and detecting frauds and other irregularities; selection andapplication of appropriate accounting policies; making judgments and estimates that arereasonable and prudent; and design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevant to the preparation and presentation ofthe financial statements that give a true and fair view and are free from materialmisstatement whether due to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these financial statements based on ouraudit.

We have taken into account the provisions of the Act the accounting and auditingstandards and matters which are required to be included in the audit report under theprovisions of the Act and the Rules made there under.

We conducted our audit in accordance with the Standards on Auditing specified underSection 143(10) of the Act. Those Standards require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance about whetherthe financial statements are free from material misstatement accounting estimates made bythe company's directors and evaluating the overall presentation of financial statements

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the financial statements.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid financial statements give the information required by the Actin the manner so required and give a true and fair view in conformity with the accountingprinciples generally accepted in India of the state of affairs of the Company as at 31^stMarch 2018 and its Loss for the year ended on that date.

Report on Other Legal and Regulatory Requirements.

1. The provisions of the Companies (Auditor's Report) Order 2016 ("theOrder") issued by the Central Government of India in terms of sub-section (11) ofsection 143 of the Companies Act 2013 are not applicable.

2. As required by Section 143(3) of the Act we report that:

a. We have sought and obtained all the information and explanations which to the bestof 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 theCompany so far as it appears from our examination of those books;

c. The Balance Sheet the Statement of Profit and Loss dealt with by this Report are inagreement with the books of account;

d. In our opinion the aforesaid financial statements comply with the AccountingStandards specified under Section 133 of the Act read with Rule 7 of the Companies(Accounts) Rules 2014;

e. On the basis of written representations received from the directors as on 31^stMarch 2018 and taken on record by the Board of Directors none of the directors isdisqualified as on 31^st March 2018 from being appointed as a director in termsof Section 164(2) of the Act;

f. With respect to the other matters to be included in the Auditor's Report inaccordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014 in our opinionand to the best of our information and according to the explanations given to us:

i. As per information and explanation given to me no litigation is initiated againstcompany

e. On the basis of written representations received from the directors as on 31^stMarch 2018 and taken on record by the Board of Directors none of the directors isdisqualified as on 31^st March 2018 from being appointed as a director in termsof Section 164(2) of the Act;

f. With respect to the other matters to be included in the Auditor's Report inaccordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014 in our opinionand to the best of our information and according to the explanations given to us;

i. As per information and explanation given to me no litigation is initiated againstcompany

ii. The company has made provisions as at March 31 2018 as required under theapplicable law or accounting standards for material foreseeable losses if any on longterm contracts including derivative contracts.

iii. As there is no amount required to be transferred to the Investor Education andProtection Fund by the Company during the year ended March 31 2018 this clause is notapplicable.