& PARTNERS

SALARPURIA Alsoat Tower

1008,Chiranjiv
ACCOUNTANTS
CHARTERED 7, ChittranjanAvenue 43, NehruPlace
Kolkata-700072 New Delhi-110019
Ph.No.22375400,Ot,02 Ph.No.25216579, 26414726

Auditor's Report on Reviewof Interim FinancialInformationto the Board of Directors

& FinanceLimited
M/sAravaliSecurities
PlotNo-136,4'nFloor,RiderHouse,Sector-44
Gurgaon-122003
Haryana

We have reviewedthe accompanyingstatementof unauditedfinancialresultsof M/s. Aravali

Securities & Finance Limited for the period ended 31st Dec, 2016 This statementis the
of the Company'sManagementand has been approvedby the Boardof Directors.
responsibility
is to issuea reporton thesefinancialstatementsbasedon our review.
Our responsibility

We conductedour reviewin accordancewith the Standardon ReviewEngagement(SRE)2400,

Engagement to ReviewFinancialStatementsissuedby the Instituteof CharteredAccountantsof
India.This standardrequiresthat we plan and performthe reviewto obtainmoderateassurance
as to whetherthe financialstatementsare free of materialmisstatement. A review is limited
primarilyto inquiriesof companypersonneland analyticalproceduresappliedto financialdata
andthusprovideslessassurance thanan audit.We havenot performed an auditand accordingly,
we do notexpressan auditopinion.

Basedon our reviewconductedas above,nothinghas come to our attentionthat causesus to

believethat the accompanyingstatementof unauditedfinancialresultspreparedin accordance
with applicableaccountingstandardsand otherrecognizedaccountingpracticesand policieshas
not disclosedthe informationrequiredto be disclosedin terms of Regulation33 of the SEBI
(ListingObligations and DisclosureRequirements) Regulations, 2015 includingthe mannerin
whichit is to be disclosed,or that it containsany materialmisstatement.

ForSalarpuria
& Padners
CharteredAccountants.
Firm'sRegistration
No. 302113E

hjh.,fif
KamalKumarGUota
Partner
M .No .89 1 9 0

Place:NewDelhi
Date'.14-02-2017