Anjani Finance Ltd Auditor Reports

lhereori ii}\^ i; our resporrsibility is to read the ln corrnection wrtlr our auclit of tlre Financi;.]l 5t-;:t-erneni,s, whelher the other rnforrnatiorr is rnaterially other informatior-: ancl , irr clornq so, c-onstcjer or oLlr knowlerige oblained during lhe course inconsistent with the Firrancial stater-nenls audit or otherwise appears to be rraterially rnisstaleci. of our the work we have perforrneci, we cotrclucje [hat there is a nraterial lf, based on information; we are required to report ttrat fact We have misstatement of this ottrer nothing to rePort in this regard.

THE RESPONSIBILITIES ^{OF MANAGEMENT AND THOSE CHARGED WITH GOVERNANCE FOR} FINANCIAL STATEMENTS is responsible for_the matters stated in sectton 134(5) The companys Board of Directors preparation of these Financial statements that give a true of the Act with respect to the fair view of the frnancial position, financial performance including other and

in equity and cash flows of the Company in accordance comprehensive income, changes with the accounting ^{principles q"n"rutty accepted in lndia, including lnd AS specified}

- accordance with the requirements of section 197(16) of the Act, aS amended

ln our opinion and to the best of our information and accordrng to the explanations grven to us, the remuneration paid by the Company to its directors during the year is in accordance with the provisions of section

197 of the Act.

h) With respect to the other matters to be included in the Auditors Report in accordance with Rule 11 of the Companies ^(Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us: i. The Company has disclosed the rmpact of pending litigations as at 3lt March 2025 on its financial position rn its financial statements -

Refer Note 19 (3) to the Financial statements.

ii. The Company did not have any long-term contracts including clerivative contracts for which there were any material foreseeable losses.

iii. There were no amounts which were required to be transferred to the lnvestor Education and Protection Fund by the Company during the year ended 31t March 2025.

(i) The management has represented that, to the best of its knowledge and belief, ot n as disclosed in the notes to the accounts, no funds h vanced or loa ned or invested

(either from borrow premrum or any other sources or kind of funds) by the company to or in any other person(s) or entity(ies), including foreign entities ("lntermediaries"), with the understanding, whether recorded in writing or otherwise, that the lntermediary shall, whether, directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company ("Ultimate Beneficiaries") or provide any

guarantee, security or the like on behalf of the Ultimate

Beneficiaries (if any);

(ii) The management has represented, that, to the best of its knowledge and belief, other than as disclosed in the notes to the accounts, no funds have been received by the company from any person(s) or entity(ies), including foreign entities ("Funding

Parties"), with the understanding, whether recorded in writing or otherwise, that the company shall, whether, directly or indirectly, lend or invest in other persons or entities identified in any manner

whatsoever by or on behalf of the Funding Party ("Ultimate

Beneficiaries") or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries (if any); and

(iii) Based on such audit procedures that we (the auditors of the company) have considered reasonable and appropriate in the circumstances; nothing has come to our notice that has caused us to believe that the representations under sub-clause (i) and (ii) contain any material misstatements.

v. The Company has not declared or paid any dividend during the

yea r.

vi. The company has used accounting software for maintaining its books of account which has a feature of recording audit trail (edit log) facility and the same has been operated throughout the year for all transactions recorded in the software and the audit trail feature has not been tampered with and the audit trail has been preserved by the company as per the statutory requirements for record retention.

STATUTORY AUDITORS

FOR MAHENDRA BADJATYA & CO CHARTERED ACCOUNT

lReferred to in paragraph 1 underReport on Other Legal and Regulatory Requirements in the lndependent Auditors Report of even date to the members of ANJANI FINANCE LIMITED on the financial statements for the year ended 31t March 20251

The Annexure required under CARO, 2020 referred to in our Report to the members of the Anjani Finance Limited ("the Company") for the year ended 31t March 2025, and according to information and explanations given to us, we report as under:

i a) (A) The company has maintained reasonable records showing full particulars, including quantitative details and situation of Property, Plant and Equipment.

(B) The company does not have any intangible assets. Accordingly, the provtsions of clause 3(i)(a)(B) of the Order is not applicable. b) These Property, Plant and Equipment have been physically verified by the management at reasonable intervals and as informed, no material discrepancies were noticed on such verification. ln our oprnion, the frequency of verification is reasonable having regard to the size of the Company and the nature of its assets. c) The company does not have any immovable property. Accordingly, the provisions of clause 3(i)(c) of the Order are not applicable. d) The company has not revalued rts Property, Plant and Equipment (including Right of Use assets) or intangible assets or both during the year. Accordingly, the Provision of Clause 3(i)(d) of the order is not applicable to the company.

e) The company does not have any benami property under the Benami

Transactions (Prohibition) Act, 19BB (45 of 19BB) and rules made there under.

Accordingly, the provisions of clause 3(i)(e) of the Order is not applicable.

ii. (a)The nature of the companys business is such that it rs not required to hold any inventories. Accordingly, the provision of Clause 3(ii) of the order is not applicable to the company.

(b) During any point of time of the year, the company has not been sanctioned any working capital limits, from banks or financial institutions on the basis of security of current assets. Since the company has not been sanctioned any working capital limits, there is no requirement to file the quarterly returns or statements with such banks or financial institutions. Accordingly, the provisions of clause 3(ii) (b) of the order rs not applicable.

iii. During the year the company has not made investments in, provided any guarantee or security but has granted loans or advances in the nature of loans, secured or unsecured, to companies, firms, Limited Liability Partnerships or any other parties, and,

a) During the year the company has provided loans or provided advances in the nature of loans but has not stood guarantee or provided security to any other entity during the year under review. The principal business of the company is to give loans. Accordingly, the provisions of clause 3(iii)(a) (A) and (B) of the Order is not applicable. b) The investments made, and the terms and conditions of the grant of all loans and advances in the nature of loans and guarantees provided are not prejudicial to the companys interest. The company has not provided any guarantees, security given. c) ln respect of loans and advances in the nature of loans, the schedule of repayment of principal and payment of interest has been stipulated and the repayment of such loans is received on the basis of mutual understanding. d) There is no amount overdue for more than ninety days with respect to the loans given. e) That the company has loans or advances in the nature of loans granted which has fallen due dunng the year renewed or extended or fresh loans granted to settle the overdu{.3, given to the ^same Partres ^and

been disclosed in the financral statements etc., as required by the applicable lndian accounting standard.

xiv. a) The company has an internal audit system commensurate with the size and n atu re of its business. b) The the period under audit were considered by the xv. ln our opinron, the company has not enteied into any non-cash transactions with the directors or persons connected with them covered under Section 192 of the Act. Accordingly, the provision of clause 3(xv) of the Order is not applicable.

xvi. a) The company is a registered NBFC company U/s 45lA of the Reserve Bank of lndia Act, 1934 vide registration no B-03.0O173 dated 24llLll4 in category Non-

Banking Financial lnstitution without accepting public deposit and accordingly, the company is carrying on financial Services business. b) The company has conducted Non-Banking Financial activities with a valid

Certificate of Registration (CoR) from the Reserve Bank of lndia as per the

Reserve Bank of lndia Act, 1934. c) The company is not a Core-lnvestment Company (ClC) as defined in the regulations made by the Reserve Bank of lndia. Accordingly, the provision of clause 3(xvi)(c) of the Order is not applicable. d) The Group does not have any CIC as part of the Group. Accordrngly, the provisions of clause 3(xvi)(d) of the Order are not applicable.

xvii. The company has not incurred cash losses in the current financial year and in the immediately preceding financial year. Accordingly, the provision of clause 3(xvii) of the Order is not applicable.

xviii.There has been no resignation of the statutory auditors during the year.

Accordingly, the provision of clause 3(xviii) of the Order is not applicable.

xix. On the basis of the financial ratios, ageing and expected dates of realization of

financial assets and payment of financial liabilities, other information

accompanying the financial statements, the auditors knowledge of the Board of Directors and management plans, we (the auditor) are of the opinion that no material uncertainty exists as on the date of the audit report and that the company is capable of meeting its liabilities existing at the date of balance sheet as and when they fall due within a period of one year from the balance sheet date.

xx The provisrons of Section 135 are not applicable to the company. Accordingly, the provision of clause 3(xx) of the Order is not applicable.

xxi There have been no qualifications or adverse remarks by the respective audrtors in the Companies (Auditors Report) Order (CARO) reports of the companies included in the consolidated financial statements as the company has not performed any consolidation. Accordingly, the provision of clause 3(xxi) of the Order is not applicable.

CZ NIRDESH BADJATYA PARTNER

ICAI MNO 42O3BB

i,1J,?i[f(t9) ^{ss onr n qQ,,)t{.75}

Annexure - ^{"8" to the lndependent} Auditors Report

(Referred to in paragraph 2 underReport on Other Legal and Regulatory Requirements in the lndependent Auditors Report of even date to the members of ANJANI FINANCE LIMITED on the financial statements for the year ended 31t March 2025).

Report on the lnternal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013 ("the Act").

We have audited the internal financial controls over financial reporting of Anjani Finance Limited ("the Company") as of 31t March 2025 in conjunction with our audit of the financial statements of the Company for the year ended on that date.

OPINION

ln our opinion, and to the best of our information and according to the explanation given to us, the Company has, in all material respects, an adequate internal financial controls system over financial reporting and such internal financial controls over financial reporting were operating effectively as at 31 March 2025, based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note issued by lCAl.

MANAGEMENTS RESPONSIBILITY FOR INTERNAL FINANCIAL CONTROLS

The Companys management is responsible for establishing and maintarning internal financial controls based on the internal control over financial reporting criteria established by the Company consrdering the essential components of internal control stated in the Guidance Note on Audit of lnternal Financial Controls over Financial

Reporting issued by the lnstitute of Chartered Accountants of lndia (the "Guidance Note"). These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct of its business, including adherence to companys policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information, as required under the Act.

AUDITORS RESPONSI BILITY

Our responsibility is to express an opinion on the Companys internal financial controls over financial reporting based on our audit. We conducted our audit in accordance with the Guidance Note and the Standards on Auditing, issued by lCAl and deemed to be prescribed under section 143(10) of the Companies Act, 2013, to the extent applicable to an audit of internal financial controls, both applicable to an audit of lnternal Financial

Controls. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls over financial reporting was established and maintatned and if such controls operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system over financial reporting and their operating effectlveness. Our audit of internal financial controls over financial reporting included obtaining an understanding of internal frnancial controls over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the auditors judgment, including the assessment of the rtsks of material misstatement of the financial statements, whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Companys internal financial controls system over financial reporting.

MEANING OF INTERNAL FINANCIAL CONTROLS WITH

REFERENCE TO FINANCIAL STATEMENTS

A companys internal financial control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financiai reporting Jnd the preparation of financial statements for external prrpoiet in accordance with generally accepted accounting principles. A companys internal financial control over financial reporting includes those policies and procedures that:

1. Regarding the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company.

2 provide reasonable assurance that transactions are recorded as necessary to permit ^preparation of frnancial statements in accordance with generally a..epted accounting princrples, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and

3. Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the companys aisets that could have a material effect on the financial statements.

INHERENT LIMITATIONS OF INTERNAL FINANCIAL CONTROLS WITH

REFERENCE TO FINANCIAL STATEMENTS

Because of the inherent limitations of internal financial controls over financial reporting, including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may occur and not be detected. Also, projections of any evaluation of the internal financiil controls over financial reporting to future periods are subject to the risk that the internal financral control over financial reporting may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deleriorate.

STATUTORY AUDITORS

FOR MAHENDRA BADJATYA & CO CHARTERED ACCOUNTANTS ICAI FRN OO1457C

CZ NIRDESH BADJAryA

PARTNER

tcAt MNo 420388

PLACE:INDORE^t:\t lDt,y:ifhRsV ^{ssB iyrf, H} e f_ \ r^ttz,

DATE: 28.05.202s