J MPR & Co., Chartered Accountants

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MPR

& Co., Chartered Accountants E-54, L.G.F., Lajpat Nagar-II New Delhi-110 024 Telephone: +9111 4657 2254 E-mail: [email protected]

is" July

2012

Managing Director CL Educate Limited 15A, Knowledge Park -II, Greater Noida (India)

Dear Sir This is with reference

to your instructions

relation to CL Educate Accountants,

Limited

vide our en~agement

(hereinafter

letter dated

called CL) approaching

ih

May 2012 in

MPR & Co., Chartered

to externally validate the below data by comparing CL's data base with the lists for

the below-mentioned,

as published on the CAT/11M website(s).

Total number of CL students selected for the Interview Call-

Stage I from alillMs;

The aggregate of calls received by these CL students from all these IIMs; and Number of CL students who secured 100 percentile

Sources of information The information contained in our report is based only on: Enrolment Forms and Fee receipts provided

by CL

Master Lists of Candidates provided by CL Results from http://weaiimcalcat.catiim.in/ (with inputs of CAT Regn. No. or pdf of list of candidates selected) Ahmedabad PGP - http://115.111.80.206/catselioxxe232a3c2011tsk.php Ahmedabad ABM - http://115.111.80.206/abmcatselioxxe232a3c2011tsk.php Bangalore - http://hrm.iimb.ernetin/iimb/pgp2012/pgpcallforinterview.htm Calcutta - http://web1.iimcal.ac. in/catresu 1t2012/index. asp . Indore - http://www.iimidr.ac.inliimi/pages/results/pgp-watpi-int.php Kozikode _ Stage II _ http://www.iimk.ac.in/admissionpackage2012/PDFstage2/ Kozikode Stage I -http://www.iimk.ac.in/admissionpackage2012/PDFstage2/venue1 Lucknow - http://www.iiml.ac.in/pgp

gdpi.php?PHPSESSID=a9bf731474686e62c2a3bOf53504ffe9

Shilong - http://www. iimshillong. in/admission/studentstatus.aspx 6 11M List -Kashipur, Raipur, Ranchi, Rohtak, Trichy, Udaipurhttp://www.iimranchi.ac.in/6iims admissions/list! Discussions with Mr. Pawan Sharma, CL

Login. php

M P R & Co., Chartered Accountants Conclusion Based

on our examination

of records

and various

hereinabove, our conclusion of the above-mentioned

1.

sources

of information

as mentioned

data validation exercise is as under:

We could validate data for a total of 2,298 CL students who received interview calls from at least one 11M

2.

The maximum calls for these CL students could be estimated at 11,692. The breakup of which is as under:

a) a total of 3,346 calls for some of these students from all IIMs except 6 IIMs* for which the common admission process was conducted b)

by 11MRanchi

a total of 1,391 CL students out of the above 2,298 students to have received

calls from 11MRanchi for the common admission process assumed that every student for which

the common

of 6 IIMs' and if it is

was called by all the 6 IIMs as mentioned

admission

process

conducted

above,

by 11M Ranchi,

the

maximum number of calls from these IIMs can be estimated as 8,346 3.

We could verify names of 5 CL students with 100 percentile. Their names areAjinkya

Ganjan Deshmukh,

Kedia and Soumyajit

Vidish Iyer, Shashank

G,handrahas Basu, Vishal

Sanyal

"'11MRanchi, 11MRontak, 11MReipur, 11MTri~hY; JIM Kashipur andllM

Udapiur

qw

Scope of work and limitations This data validation

exercise did not constitute an audit in accordance

with Auditing Standards

and is strictly limited to the scope of work as defined in the letter of engagement

dated

r"

May

2012. The findings are limited strictly to the examination mentioned hereinabove.

of records and sources of information

as

There may be information, other than those noted in the report, which

. might be relevant in the context of the transaction and which a wider scope review might uncover.

Limitation of liability Our liability will be limited to that part of any loss suffered which is proportional to our responsibility and at no time shall this exceed the fee that we have received from this assignment.

.V:7

M P R & Co., Chartered Accountants Confidentiality This report was confidential

and had been prepared

exclusively

for the directors

of CL.

Therefore, if the report is produced to any outside party, we do not accept any responsibility for reliance by them in acting or refraining from acting on the contents of the report.

General This report is issued on understanding to the issue reported

that the management of CL had brought all matters related

to our attention

as on the date of report. Events and circumstances

occurring after the date of our report will, in due course, render our report out of date and, accordingly,

we will not accept a duty of care nor assume a responsibility

actions which are based upon such an out of date report. Additionally, to update this report for events and circumstances

ForMPR & Co. Chartered Accountants

\

C,c1

\

=>:

Pi

sl1Garg

Partner

for decisions and

we have no responsibility

occurring after the report date.

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