Cargosol Logistics Ltd Auditor Reports

Report onthe Audit of the Standalone Financial Statements

Opinion

We have audited the Standalone Financial Statements of Cargosol Logistics Limited (“theCompany”), which comprise the balance sheet as at 31st March 2024, and the statement of Profit and Loss, statement of cash flows for the year then ended, and notes tothe Standalone Financial Statements, including a summary of significant accounting policies and other explanatory information.

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid Standalone Financial Statements give the information required I the Act in the manner so required and give a trueand fair view in conformity with the accounting principles generally accepted in India, of the state of affairs of the Companyas at March 31, 2024, its loss, its cash flows for the year ended on that date.

Basis for Opinion

We conducted our audit in accordance with Standards on Auditing(SAs) specified under section 143(10) of the Companies Act, 2013. Our responsibilities under those Standards are further describedinthe AuditorsResponsibilities for the Audit of the Standalone Financial Statements section of ourreport.We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the Standalone Financial Statements under the provisions of the Companies Act, 2013 and we have fulfilled our other ethical responsibilities in accordance with theserequirements and the ICAIs Code of Ethics. We believe that the audit evidence we haveobtained is sufficient and appropriate to provide a basisfor our opinion.

Key Audit Matters:

Key audit matters are thosematters that, in our professional judgment, were of most significance in our audit of the Standalone financial statements of the current period. These matterswere addressed in the contextof our audit of the Standalone financial statements as a whole, and in forming our opinion thereon, and we donot provide aseparate opinion on these matters. During the course of our audit, we have determined that there are no key audit mattersto be communicated in our report.

InformationOther than the Standalone Financial Statements and Auditors Report Thereon

The Companys Board of Directors is responsible for the other information. The other information comprises the information includedin the Board report but does not include the Standalone Financial Statements and our auditors report thereon.

Our opinion on the Standalone Financial Statements does not cover the other information and we donot express any form of assurance conclusion thereon.

In connection with our audit of the Standalone Financial Statements, our responsibility is to read the other information and, in doingso, consider whether the other information is materially inconsistent with the Standalone Financial Statements or our knowledge obtained during the course ofour audit or otherwise appears to be materially misstated.

If, based on the work we have performed, we concludethat there is a material misstatement of this other information, we are requiredto report we are required to communicate the matter to those charged with governance.

Responsibilities of Management and Those Charged with Governance for the Standalone

Financial Statements

The Companys Board of Directors are responsiblefor the matters stated in Section 134(5) of the Companies Act, 2013 (‘the act) with respect to the preparation of these Standalone Financial Statements that give a true and fair view of the financial position, financial performance, changes in equity and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the Accounting Standards specified under Section 133 of the Act. This responsibility includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments andestimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that are operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Standalone Financial Statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the Standalone Financial Statements, management is responsible for assessing the

Companys ability to continue as a going concern, disclosing, as applicable, matters related to going concern andusing the going concern basis of accounting unless management either intends to liquidate the Company or to ceaseoperations, or has no realistic alternative but to do so.

Those Board of Directors are also responsible for overseeing the Companys financial reporting process.

Auditors Responsibilities for the Audit of the Standalone Financial Statements

1. Our objectivesareto obtain reasonableassurance about whetherthe Standalone Financial Statements as a whole are free from material misstatement, whether due to fraud or error,and to issue an auditors report thatincludes our opinion. Reasonable assurance is a high level of assurance, but isnot a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatementscan arise from fraud or error and are considered material if, individually or in theaggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Standalone Financial Statements

2. As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

Identifyand assessthe risks ofmaterial misstatement ofthe Standalone Financial Statements, whether due to fraud or error, design am perform audit procedures responsive to those risks, and obtain audit evidence that i.< sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3) (i) ofthe Act, we are also responsible for expressing our opinion on whether the company has adequate internal financial controlswith reference to financial statements in place and the operating effectiveness of such controls.

Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

Conclude on the appropriateness of managements use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists relatedto events or conditions that may cast significant doubt on the Companys ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors report to the related disclosures in the Standalone Financial Statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up tothe date of our auditors report. However, future events or conditions may cause the Companyto cease to continue as a going concern.

Evaluate the overall presentation, structure and content of the Standalone Financial Statements, including the disclosures, and whether the Standalone Financial Statements represent the underlying transactions andevents in a manner that achieves fair presentation.

3. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficienciesin internal control that we identify during our audit.

4. We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, relatedsafeguards.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditors Report) Order, 2020 (“the Order”) issued by the Central Government of India in terms of sub-section (11) of section 143 of the Act,we give in the “Annexure A” a statement on the matters specified in the paragraphs 3 and 4 of the Order.

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

a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purpose of our audit;

b) In our opinion, proper books of account as required by law have been kept by the Company so far as it appears fromour examination of those books except for the matters stated in paragraph (v) a below on reporting under Rule 11 (g);

c) The Balance Sheet, Statement of Profit and Loss, and Cash Flow Statement dealt with by this Report are in agreement with the books of account;

d) In our opinion, the aforesaidStandalone Financial Statements comply with the applicable Accounting Standards 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 March 31, 2024, and taken on record by the Board of Directors, none of the directors is disqualified as on

March 31, 2024,from being appointed as a director in terms ofSection 164(2) of the Act; f) With respect to adequacy of theinternal financial control over financial reporting of the company and the operatingeffectiveness of such controls refer our separate report in

“Annexure B” and

g) With respect to the other matters to beincluded in the Auditors Report in accordance with Rule 11 ofthe Companies (Audit and Auditors) Rules, 2014, in our opinion and tothe best of our information and according to the explanations given to us:

i. The Company does not have any pending litigations as at March 31, 2024 which would impact its financial position except as disclosed in Note28.

ii. The company did not have any long-term contracts including derivative contracts for which there wereanymaterial foreseeable losses;

iii. There were no amounts which were required to be transit ‘red to the Investor Education and Protection Fund bythe Company.

iv. (a) The Management has represented that, to the best of its knowledge and belief, no funds (which are material either individuallyor in the aggregate) have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds)by the Company to or in any other person or entity, including foreign entity (“Intermediaries”), with the understanding, whether recorded in writing or otherwise, that the Intermediary 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;

(b) The Management has represented, that, to the best of its knowledge and belief, no funds (which are material either individually or in the aggregate) have been received by the Company from any person or entity, including foreign entity (“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 behalfof the Funding Party (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries;

(c) Based on the audit procedures that have been 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) of Rule 11 (e), as provided under (a) and (b) above, containany material misstatement

v. The Company has not declared orpaid any dividend during the year and has not proposed final dividend for the year ended March 31, 2024. vi. Based on our examination, which include test checks, the company has used accounting software for maintainingits books ofaccounts for the Financial year ended March 31, 2024 which have the feature of recording audit trail (edit log) facility butthe same has not been enabled throughout the year.

As proviso toRule3(1)oftheCompanies (Accounts)Rules,2014 is applicablefrom April 1, 2023, reporting under Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014 on preservation of audit trail as perthe statutoryrequirements for record retention is notapplicable for the financial year ended March 31, 2024

3. With respect to the matter to be included in the Auditors Report under Section 197(16) of the act: In our opinion and according to the information and explanations given to us, the remuneration paid by the Company to its directors during the current year is in accordance with the provisions of Section 197 of the Act.The remuneration paid to any director isnot in excess of the limit laid down under Section 197 of the Act. I he Ministry ofCorporate Affairs has not prescribed other details under Section 197(16) of the Act which are required to be commented upon by us.

For C A S & Co.

Chartered Accountants

Firm Reg. No 111075W

Sd/-

Sajjan Kanodia

Partner

Mem. No. 048047

UDINNo.: 24048047BKDHIA5018

Place: Mumbai

Date: 29th May, 2024

Annexure“A” tothe Independent Auditors report on the standalone financial statements of Cargosol Logistics Limited for the year ended 31st March 2024.

Annexure referred to in Paragraph 1 of “Report on Other Legal and Regulatory Requirements” of our Independent Auditors Report of even date to the members ofCargosol Logistics Limited (“the Company”) on the Standalone Financial Statements for the year ended 31st March 2024.

As required by the Companies (Auditors Report) Order, 2020 and according to the information and explanations given to us during the auditand on the basis of such checksof the books and records as were considered appropriatewe report that:

i) a) A) The Company has maintained proper records showing full particulars, including quantitative details and situation of Property, Plant and Equipmentand relevant details of right-of-use assets.

B) TheCompany has maintained proper records showing full particulars of the Intangible assets.

b) As explained to us, the Plant Property and Equipment have been physically verified by the management in accordance with a phased programme ofverification, which in ouropinion is reasonable, considering the size of the Company and the nature of its assets.In accordance with thisprogram certain fixed assetswere verifiedduring the year. The frequency of verification is reasonable, and nodiscrepancies havebeen noticed on such physical verification.

c) Thetitle deedsof all the immovable properties (other than properties where theCompanyis the lessee and theleaseagreements are duly executed infavour of the lessee) are held in the name of the Company, except the immovable properties as indicatedin the table below:

Sr. No. Description of Property	Gross carrying value	Held in the Name of	Whether title deed holder is a promoter, director or relative of promoter/ director or employee of promoter / director	Period held
1. Land(SurveyNo.639, Koregaon, Pune)	5.2		No	January 22, 2010
2. Unit No. 101, B wing, Vaishnav Apartment	3.59		No	August 26, 2004
3. Office Unit no. 501 A, Swroop Arcade	36.13	M/s	No	August 31, 2006
4. Office Unit no. 502, Swroop Arcade	26.72	Cargosol	No	January 28, 2011
5. Office Unit no. 501B, Swroop Arcade	20.90		No	August 01, 2006
6. Shop No. 11, Gokul Horizon.	11.46		No	September 04, 2010
7. Office Unit no. 319 & 320, LodhaSupremus.	678.82	Cargosol Logistics	No	May 31, 2018
8. Office No. A 125, Steel Chamber, Kalamboli	20.75	Private Limited	No	March 31, 2021

Reason for not being in name of the Company: The Title deeds are in name of the erstwhile Company. M/s Cargosol, a registered partnershipfirm established on January 23, 2004 was converted as Cargosol Logistic Private Limited under the Companies Act, 1956 on February 10, 2011. Thereafter, on February 10, 2022 by passing a special resolution the Company changedits name as CargosolLogistics Limited &got listed on SME platform of BSE.

d) According to the information and explanations given to us and on the basis of our examination of records of the Company hasnot revalued its Property, Plant and Equipment or intangible assets or both duringthe year.

e) According to information and explanations given to us, no proceedings have been initiated during the year or are pending against the Company asat March 31, 2024 for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rulesmade thereunder.

ii) a) TheCompany is a service company, primarily rendering freight forwarding and logistics services.

Hence theCompany does not have any inventory, the paragraph 3 (ii) of thesaidOrder is not applicable to theCompany.

b) TheCompany has been sanctionedworking capital limits inexcess of Rs. 5 crores inaggregate from Banks/financial institutions on the basis of securityof current assets. Quarterlyreturns / statements are filed withsuch Banks/ financialinstitutions are in agreement with the books of account except for the difference mentioned in Note 7.

iii) a) During the year the Company has not made investment and not provided any guarantee or security or granted any loansor advances in the nature of loans, secured or unsecured, to companies, firms, Limited Liability Partnerships or any other parties. Hence paragraph 3 (iii) (a), (b), (c), (d), (e) &(f) of the Order are not applicable tothe Company.

iv) According to the information and explanations given to us the Company has not granted any loans or provided any guarantees or security to the parties covered underthe Section 185 of the Act. With regards to investments in securities and loans provided to other body corporates after enforcementof section 186 of theAct, the Company has complied with the provisions of section 186 of the Act.

v) The Company has notaccepted any deposits from the public in accordance with the provisions of sections 73 to 76 of the Act andthe rules framedthere under, tothe extent applicable. Accordingly, therequirementtoreportonclause3(v)oftheOrderisnotapplicabletotheCompany.

vi) The Central Government has not prescribed the maintenance of cost records under Section 148(1) of the Act, for the Company hence paragraph 3(vi) of the Order is not applicable.

vii) a) According to the records of the Company, amount deducted/accrued in the books of accounts in respect of the undisputed statutorydues including Provident fund, Employees State Insurance, Income tax, Goods and Services tax, Duty of Customs, Cess and other Statutory Dues to the extentapplicable to the Company, have been regularly deposited with the appropriate authorities. According to the information and explanations given to us, there are no undisputed amount payableinrespect of such statutorydues which have remained outstanding as at 31st March, 2024foraperiodmorethansixmonthsfromthedatetheybecampayable.

b) According to the information and explanation given to us and the records of the Company examined by us, the dues of goods and service tax which have not beendeposited on account of any dispute are as follows:

Name of the Statute	Nature of the taxes	Amount (In Lakhs)	Period	Forum at which the dispute is pending
Goods & Services Tax Act, 2017	GST (Including Interest & Penalties)	207.56	FY 2018-19	First Appellate Authority u/s 107 of CGST Act, 2017.

viii) As per information and explanation provided to us and procedures performed by us, there is no transactions which are not recorded in the booksof account have beensurrendered or disclosed asincome during the year in the tax assessments under theIncome Tax Act, 1961 (43 of 1961)

ix) a) In our opinion and according to the information and explanation given to us the Company has not defaulted in repayment of its dues to financial institutions. The Company did not have any outstanding dues to debentureholders during the year.

b) In our opinionand according to the information and explanation given tous theCompany is not declared wilful defaulterby anybank orfinancial institution orother lender.

c) In our opinion and according to the information explanation provided to us, money raised by way of term loansduring the year have been applied forthe purpose for which they were raised.

d) On an overall examination of the Standalone Financial Statements of the Company, funds raised onshort-term basis have, prima facie,not been used during the year for long-term purposes by the Company.

e) As per information and explanation provided to us and procedures performed by us, the Company hasnottakenanyfundsfromanyentityorpersononaccountofortomeettheobligationsofits subsidiaries, associates or joint ventures.

f) According to information and explanations provided to us, the Company has not raised loans during the year on the pledge of securities held in itssubsidiaries, joint ventures or associate companies.

x) a) The Company has neither raised money by way of initial public offer or further public offer (includingdebt instruments) during the year. Accordingly, paragraph 3 (x)(a) of the Orderis not applicable to the Company.

b) According to the information and explanations given to usand based on our examination of the records of the Company, the Company has not made any preferential allotment or private placement of shares or fully, partly or optionally convertible debentures during the year.

Accordingly, the provisions stated in paragraph 3 (x)(b)ofthe Order are not applicable to the Company.

xi) a) According to the information & explanations given to us, no fraud by the Companyor on the Companyby itsofficers or employees has been noticedor reported during the course of our audit.

b) No report under sub-section (12) of section 143 of the Companies Act has been filed by the auditors in Form ADT-4 as prescribed under rule 13 of Companies(Audit and Auditors) Rules, 2014 with the Central Government.

c) As per information and explanations provided to us during the year the Company has not received any whistle blower complaints

xii) The Company isnot a NidhiCompany. Accordingly, paragraph 3 clause (xii)(a),(b) and (c) of the Order is not applicable to the Company.

xiii) According to the information and explanation given to us and based on our examinationof the records of the Company, transactions with the related partiesare in compliance with Section 177 & 188 of the Act, where applicable. The details of such related party transactions have been disclosed in the financial statements as required underAccounting Standard (AS) 18 ‘Related PartyDisclosures” specified under section133 ofthe Companies Act, 2013 read with Rule7 of the Companies (Accounts) Rule, 2014.

xiv) a) In our opinion and based on our examination, the Company has an internal audit system commensurate with the size and nature of itsbusiness.

b) We have considered internal audit reports issued by internal auditors during our audit.

xv) According to the information and explanation given to us and based on our examinationof the records of the Company, the Company has not entered into any non-cash transactionswith the directors or persons connectedwith him during the year under review.Accordingly,provisions of section 192 of Companies Act under this clause is not applicable.

xvi) a) The Company is not required to be registered under section 45 ia of the Reserve Bank of India Act, 1934 and accordingly,the provisions stated in paragraphcla se 3 (xvi)(a) of the Order is not applicable to theCompany.

b) The Company has not conducted any Non-BankingFinancial or ousing Finance activities without any valid Certificateof Registration from Reserve Bank of India. Hence, the reporting under paragraph clause 3 (xvi)(b) of the Order is notapplicable to the Company

c) TheCompany is not a Core investment Company (CIC) asdefined in the regulations made by Reserve Bank of India. Hence, the reportingunder paragraph clause 3 (xvi)(c) of the Order is not applicable to theCompany.

d) According to the information and explanations provided to us during the course of audit, the Group does not have any CIC. Accordingly, the requirements of clause 3(xvi)(d) are not applicable.

xvii) According to the information and explanation given to us and based on our examination of the records of the Company, the Company has not incurred any cash losses in the immediately preceding financial year.

xviii According to the information and explanation given to us and based on our examination ofthe records of the Company thereisno resignation of the statutoryauditorshas been taken duringthe year.

xix) Onthebasisofthefinancialratios, ageing andexpecteddatesofrealizationof financialassetsand payment of financial liabilities, other information accompanying the Standalone Financial statements and our knowledge of the Board of Directors and Management plans and based on our examinationof the evidence supporting the assumptions, nothing has come to our attention,which causes us to believe that any material uncertaintyexistsas on the date of the audit report indicatingthat Company is not capable of meeting itsliabilities existing at the date of balance sheet asand when theyfall due within a periodofoneyear from the balance sheet date. We, however, state that this is not an assurance as tothe future viabilityoftheCompany. We further state that our reporting is based on the facts up to the date of theaudit report andwe neithergive any guarantee nor any assurance that all liabilities falling due within a period of one year fromthe balance sheet date, will get discharged by theCompany as andwhen they fall due.

xx) Accordingtotheinformationandexplanationsgiventous,theprovisionsofsection135oftheAct arenot applicable tothe Company. Hence,theprovisions of paragraph (xx)(a) to (b) of the Order arenot applicable to the Company.

Annexure “B” to the Independent Auditors Report on the Standalone financial statements of Cargosol Logistics Limited for the yearended 31st March 2024.

Report on the Internal Financial Controls with reference to the aforesaid standalone financial statement under Clause (i) of Sub-section3 of Section 143 of the Companies Act, 2013 (“the Act”)

In conjunction withour audit of the standalone financial statements of Cargosol Logistics Limited (“the Company”) as of and for the year ended March 31, 2024, we have audited the internal financial controls over financial reporting of the Company for the year ended on that date.

Managements and Board of Directors Responsibilities for Internal Financial Controls

The Companys Management and the Board of Directors are responsible for establishing and maintaining internal financial controls based on the internal financial controls with reference to financial statements criteria established by the Company considering the essential components of internal control stated in 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 andcompleteness of the accounting records, and the timely preparation of reliable financial information, as required under the Act.

Auditors Responsibility

Our responsibility is to express an opinion on the Companys internal financial controls with reference to financial statements based on our audit. We conducted our audit in accordance with the Guidance Note and the Standards on Auditing, prescribed under Section 143(10) of the Act, to the extent applicable to an audit of internal financial controls with reference to financial statements. 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 with reference to financial statements were established and maintained 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 with reference to financial statements and their operating effectiveness. Our audit of internal financial controls with reference to financial statements included obtaining an understanding of internal financial controls with reference to financial statements, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness ofinternal control based on the assessed risk. The procedures selected depend on the auditors judgement, including the assessment of the risks of material misstatement of the standalone 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 internalfinancial controls with reference to the financial statement.

Meaning of Internal Financial Controls with reference to the financial statements

A companys internal financial control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A companys internal financial control over financial reporting includes those policies and procedures that (1) pertain to 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 financial statements in accordance with generally accepted accounting principles, 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 assets that could have a material effect on the standalone financial statements.

Inherent Limitations of Internal Financial Controls with reference to Financial Statements

Because of the inherent limitations of internal financial controls with reference to financial statements, 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 financial controls with reference to financial statements to future periods are subject to the risk that the internal financial controls with reference to financial statements may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate

Opinion

According to the information and explanation given to us and based on our audit, in our opinion, the company has generally maintained, in all material respects, an adequate internal financial controls over financial reporting and such internal controls over financial reporting were generally operating effectively as of 31st March 2024, 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 on Audit of Internal Financial Controls Over Financial Report g issued by the Institute of Chartered Accountants of India. However, the Company has not designed the ICFR framework is per the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India. However, our opinion is not qualified in above respect. However, our opinion is not qualified in the above respect.

For C A S & Co.

Chartered Accountants

Firm Reg. No : 111075W

Sd/-

Sajjan Kanodia

Partner

Membership No.:- 048047

UDIN: 24048047BKDHIA5018

Place: Mumbai

Date : 29th May, 2024.