Devinsu Trading Ltd Auditor Reports

(a) We have sought and obtained all the informa on and explana ons which to the best of 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 the Company so far as it appears from our examina on of those books and records.

(c) The Balance sheet, the Statement of Pro t & Loss (including other comprehensive income), the Statement of Changes in Equity and the Statement of Cash Flow dealt with by this Report are in agreement with the books of account.

(d) In our opinion, the aforesaid nancial statements comply with the Accoun ng Standards speci ed under Sec on 133 of the Act, read with Companies (Indian Accoun ng Standards) Rules, 2015, as amended.

(e) On the basis of the wri en representa on received from the directors as on March 31, 2025 taken on records by the Board of Directors, none of the directors is disquali ed as on March 31, 2025 from being appointed as a Directors in terms of Sec on 164(2) of the Act.

(f) With respect to the adequacy of the internal nancial controls over nancial repor ng of the Company and the opera ng e ec veness of such controls, refer to our separate Report in Annexure “B”.

(g) With respect to the other ma ers to be included in the Auditors Report in accordance with the requirements of Sec on 197(16) of the Act, as amended:

In our opinion and to the best of our informa on and according to the explana ons given to us, the remunera on paid by the Company to its directors during the year is in accordance with the provisions of Sec on 197 of the Act.

(h) With respect to the ma ers to be included in the Auditors report in accordance with the Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our informa on and according to the explana ons given to us:

i. The Company does not have any pending li ga on which would impact its nancial posi on.

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

iii. There were no amounts which were required to be transferred to the Investor Educa on and Protec on Fund by the Company.

iv. (a) 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 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 en ty, including foreign en ty (“Intermediaries”), with the understanding, whether recorded in wri ng or otherwise, that the Intermediary shall, whether, directly or indirectly lend or invest in other persons or en es iden ed in any manner whatsoever by or on behalf of the Company (“Ul mate Bene ciaries”) or provide any guarantee, security or the like on behalf of the Ul mate Bene ciaries.

(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 en ty, including foreign en ty (“Funding Par es”), with the understanding, whether recorded in wri ng or otherwise, that the Company shall, whether, directly or indirectly, lend or invest in other persons or en es iden ed in any manner whatsoever by or on behalf of the Funding Party (“Ul mate Bene ciaries”) or provide any guarantee, security or the like on behalf of the Ul mate Bene ciaries.

(c) Based on the audit procedures that have been considered reasonable and appropriate in the circumstances, nothing has come to our no ce that has caused us to believe that the representa on under sub clause (i) and (ii) of Rule 11(e) of The Companies (Audit and Auditors) Rules, 2014, as provided under (a) and (b) above, contains any material misstatement. (Refer Note no.25 to the nancial statements) v. The Company has not declared or paid dividend during the nancial year 2024-25.

Accordingly, repor ng under Rule 11 (f) of Companies (Audit and Auditors) Rules, 2014 is not applicable. vi. Based on our examina on which included test checks, the Company has used an accoun ng so ware for maintaining its books of account which has a feature of recording audit trail (edit log) facility and the same has operated throughout the year for all relevant transac ons recorded in the so ware. Further, during the course of our audit we did not come across any instance of audit trail feature being tampered with. Addi onally, the audit trail has been preserved by the Company as per the statutory requirements for record reten on.

For SVP & Associates Chartered Accountants Firm registra on No. 003838N Sd/-

Annexure “A” referred to in “Report on Other Legal and Regulatory Requirements” sec on of our report to the members of Devinsu Trading Limited of even date: i. a. In respect of Companys Property, Plant and Equipment and Intangible Assets:

A. The Company has maintained proper records showing full par culars, including quan ta ve details and situa on of property, plant & equipment. The Company does not have any right to use assets.

B. The Company does not have any intangible assets.

b. As informed to us, all the property, plant and equipment have been physically veri ed during the year. No discrepancies were no ced on such veri ca on.

c. According to the informa on and explana ons given to us and on the basis of our examina on of the records of the Company, the tle deeds of immovable proper es disclosed in the nancial statements included under property, plant and equipment, are held in the name of the Company.

d. The Company has not revalued any of its Property, Plant and equipment (including right- of-use assets) during the year. Hence repor ng under clause 3(i)(d) of the Order is not applicable to the Company.

e. In our opinion and according to the informa on and explana ons given to us, no proceedings have been ini ated during the year or are pending as at March 31, 2025 for holding any benami property under the Benami Transac ons (Prohibi on) Act, 1988, as amended, and rules made thereunder. Hence, repor ng under clause 3(i)(e) of the Order is not applicable to the Company.

ii. (a) The Company does not have any inventory. Hence, repor ng under clause 3(ii)(a) of the Order is not applicable.

(b) The Company has not been sanc oned working capital limits in excess of 5 crore, in aggregate, at any points of me during the year, from banks or nancial ins tu ons on the basis of security of current assets and hence, repor ng under clause 3(ii)(b) of the Order is not applicable.

iii. In respect of any Investment made in, provided any guarantee or security or granted any loans or advances in the nature of loans, secured or unsecured, to companies, rms, Limited Liability Partnerships or any other par es:

(a) The Company has not provided any loans or advances in the nature of loans or given any guarantee or provided any security to any en ty during the year and hence, repor ng under clause 3(iii)(a), (c), (d), (e) and (f) is not applicable to the Company.

(b) In our opinion, the investment made during the year are not, prima facie, prejudicial to the Companys interest.

iv. In our opinion and according to the informa on and explana ons given to us, the Company has not made any investments, given any loans nor provided any guarantee and security to par es covered under Sec on 185 and 186 of the Act during the year. Hence, repor ng under clause 3(iv) of the Order is not applicable to the Company.

v. In our opinion and according to the informa on and explana ons given to us, no deposits or amounts which are deemed to be deposits have been accepted by the Company within the meaning of Sec on 73 to 76 or any other relevant provisions of the Act and the Companies (Acceptance of Deposits) Rules, 2014 (as amended). Hence, repor ng under clause 3(v) of the Order is not applicable to the Company.

vi. The maintenance of cost records has not been speci ed by the Central Government under sub-sec on (1) of Sec on 148 of the Act for the business ac vi es carried out by the Company. Hence, repor ng under clause 3(vi) of the Order is not applicable to the Company.

vii. (a) According to the informa on and explana ons given to us and on the basis of our examina on of the records, the Company is generally regular in deposi ng undisputed statutory dues including Goods and Services tax, provident fund, employees state insurance, income tax, sales tax, custom duty, duty of excise, value added tax, cess and other statutory dues during the year with the appropriate authori es. No undisputed amounts payable in respect of the aforesaid statutory dues were outstanding as at the last day of the nancial year for a period of more than six months from the date they became payable.

(b) According to the informa on and explana ons given to us, there are no statutory dues men oned in clause vii (a) which have been not deposited on account of any dispute.

viii. According to the informa on and explana ons given to us, there were no transac ons not recorded in the books of accounts have been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (43 of 1961). Hence, repor ng under clause 3(viii) of the Order is not applicable to the Company.

ix. (a) The Company has not taken any loans or other borrowings and hence, repor ng under clause 3(ix)(a) of the Order is not applicable to the Company.

(b) On the basis of informa on and explana ons given to us, the Company has not been declared as willful defaulter by any bank or nancial ins tu on or other lender.

(c) In our opinion and according to the informa on and explana ons given to us, the Company has not taken any term loan during the year and hence, repor ng under clause 3(ix)(c) of the Order is not applicable to the Company.

(d) On an overall examina on of the nancial statements, in our opinion, the Company has not u lized funds raised on short term basis for long term purposes.

(e) The Company does not have any subsidiary, associate or joint venture and hence, repor ng under clause 3(ix)(e) and (f) of the Order is not applicable to the Company.

x. (a) In our opinion and according to the informa on and explana ons given to us, the Company has not raised any money by way of Ini al public o er or further public o er (including debt instrument) during the year and hence, repor ng under clause 3(x)(a) of the Order is not applicable to the Company.

(b) According to the informa on and explana ons given to us and based on our examina ons of the records, the Company has not made any preferen al allotment or private placement of shares or fully or partly conver ble debentures during the year or in the recent past and hence, repor ng under clause 3(x)(b) of the Order is not applicable to the Company.

xi. (a) During the course of our examina on of the books and records of the Company, carried out in accordance with the generally accepted audi ng prac ces in India and according to the informa on and explana ons given to us, we have neither come across any instance of fraud by or on the Company, no ced or reported during the year, nor have we been informed of such case by the management.

(b) No report under sub-sec on (12) of Sec on 143 of the Act has been led in Form ADT-4 as prescribed under rule 13 of Companies (Audit and Auditors) Rules, 2014 with the Central Government, during the year and upto the date of this report.

(c) Based on our audit procedure performed and according to the informa on and explana ons given to us, no whistle blower complaints received during the year by the Company and hence, repor ng under clause 3(xi)(c) of the Order is not applicable to the Company.

xii. In our opinion and according to the informa on and explana ons given to us, the Company is not a Nidhi Company and hence, repor ng under clause 3(xii) of the Order is not applicable to the Company.

xiii. According to the informa on and explana ons given to us and based on our examina on of the records of the Company, all the transac ons with related par es are in compliance with Sec on 177 and 188 of the Act and all the details have been disclosed in the nancial statements as required by the applicable Accoun ng Standard. Refer note no. 27 to the nancial statements.

xiv. (a) In our opinion and according to the informa on and explana ons given to us, the

Companys internal audit system commensurate with the size and nature of its business.

(b) We have considered the internal audit reports for the year under audit, issued to the Company during the year and ll date, in determining nature, ming and extent of our audit procedures.

xv. According to the informa on and explana ons given to us, the Company has not entered into any non-cash transac ons prescribed under Sec on 192 of the Act with directors or persons connected with them during the year.

xvi. (a) At the year end, by virtue of the condi ons speci ed in Reserve Bank of India circular no.

1998-99/1269 dated 8^th April,1999, the Company has quali ed to be treated as an deemed Non Banking Finance Company(NBFC).The Company is required to register with RBI to carrying out Non Banking Financial ac vi es. As informed by the Management, the Company is taking necessary steps to comply with applicable RBI Regula ons. (Refer Note no. 31 to the Financial Statements).

(b) The Company is not a Core Investment Company as de ned in the regula ons made by Reserve Bank of India. Accordingly, the requirement to report on clause 3(xvi)(c) of the Order is not applicable to the Company.

(c) In our opinion and on the basis of informa on and explana ons given, there is no core investment company within the Group (as de ned in the Core Investment Companies (Reserve Bank) Direc ons, 2016) and accordingly, repor ng under clause 3(xvi)(d) of the Order is not applicable.

xvii. The Company has not incurred cash losses during the current nancial year, however has incurred cash losses of Rs.33.62 Lakhs in the immediately preceding nancial year.

xviii. There has been no resigna on of the statutory auditors of the Company during the year and accordingly, repor ng under clause 3(xiii) of the Order is not applicable.

xix. According to the informa on and explana ons given to us and on the basis of the nancial ra os, ageing and expected dates of realisa on of nancial assets and payment of nancial liabili es, other informa on accompanying the nancial statements and our knowledge of the Board of Directors and Management plans and based on our examina on of the evidence suppor ng the assump ons, nothing has come to our a en on, which causes us to believe that any material uncertainty exists as on the date of the audit report indica ng that Company is not capable of mee ng its liabili es exis ng at the date of balance sheet as and when they fall due within a period of one year from the balance sheet date. We, however, state that this is not an assurance as to the future viability of the Company. We further state that our repor ng is based on the facts up to the date of the audit report and we neither give any guarantee nor any assurance that all liabili es falling due within a period of one year from the balance sheet date, will get discharged by the Company as and when they fall due.

xx. According to the informa on and explana ons given to us, Sec on 135 of the Act is not applicable to the Company for the year and hence, repor ng under clause 3(xx)(a) and (b) of the Order is not applicable to the Company.

For SVP & Associates Chartered Accountants Firm registra on No. 003838N Sd/-

Annexure “B” referred to in “Report on Other Legal and Regulatory Requirements” sec on of our report to the members of Devinsu Trading Limited of even date:

Report on the Internal Financial Controls Over Financial Repor ng under Clause (i) of Sub-sec on 3 of Sec on 143 of the Act

We have audited the internal nancial controls over nancial repor ng of the Devinsu Trading Limited (“the Company”) as of March 31, 2025 in conjunc on with our audit of the nancial statements of the Company for the year ended on that date.

Managements Responsibility for Internal Financial Controls

The Board of Directors of the Company is responsible for establishing and maintaining internal nancial controls based on the internal control over nancial repor ng criteria established by the Company considering the essen al component of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Repor ng issued by the Ins tute of Chartered Accountants of India (ICAI). These responsibili es include the design, implementa on and maintenance of adequate internal nancial controls that were opera ng e ec vely for ensuring the orderly and e cient conduct of its business, including adherence to companys policies, the safeguarding of its assets, the preven on and detec on of frauds and errors, the accuracy and completeness of the accoun ng records, and the mely prepara on of reliable nancial informa on, as required under the Act.

Auditors Responsibility

Our responsibility is to express an opinion on the Companys internal nancial controls over nancial repor ng based on our audit. We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls Over Financial Repor ng (the “Guidance Note”) and the Standards on Audi ng deemed to be prescribed under Sec on 143(10) of the Act to the extent applicable to an audit of internal nancial controls, both applicable to an audit of internal nancial controls and both issued by the ICAI. 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 nancial controls over nancial repor ng was established and maintained and if such controls operated e ec vely in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal nancial controls system over nancial repor ng and their opera ng e ec veness. Our audit of internal nancial controls over nancial repor ng included obtaining an understanding of internal nancial controls over nancial repor ng, assessing the risk that a material weakness exists, and tes ng and evalua ng the design and opera ng e ec veness of internal control based on the assessed risk. The procedures selected depend on the auditors judgment, including the assessment of the risks of material misstatement of the nancial statements, whether due to fraud or error.

We believe that the audit evidence we have obtained is su cient and appropriate to provide a basis for our audit opinion on the Companys internal nancial controls system over nancial repor ng.

Meaning of Internal Financial Controls Over Financial Repor ng

A Companys internal nancial control over nancial repor ng is a process designed to provide reasonable assurance regarding the reliability of nancial repor ng and the prepara on of nancial statements for external purposes in accordance with generally accepted accoun ng principles. A Companys internal nancial control over nancial repor ng includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly re ect the transac ons and disposi ons of the assets of the company; (2) provide reasonable assurance that transac ons are recorded as necessary to permit prepara on of nancial statements in accordance with generally accepted accoun ng principles, and that receipts and expenditures of the en ty are being made only in accordance with authorisa ons of management; and (3) provide reasonable assurance regarding preven on or mely detec on of unauthorised acquisi on, use, or disposi on of the en tys assets that could have a material e ect on the nancial statements (4) also provide reasonable assurance by the internal auditors through their internal audit reports given to the from me to me.

Inherent Limita ons of Internal Financial Controls Over Financial Repor ng

Because of the inherent limita ons of internal nancial controls over nancial repor ng, 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, projec ons of any evalua on of the internal nancial controls over nancial repor ng to future periods are subject to the risk that the internal nancial control over nancial repor ng may become inadequate because of changes in condi ons, or that the degree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion, to the best of our informa on and according to the explana ons given to us, the Company has, broadly, in all material respects, an adequate internal nancial controls system over nancial repor ng and such internal nancial controls over nancial repor ng were opera ng e ec vely as at March 31, 2025, based on the internal control over nancial repor ng criteria established by the Company considering the essen al Component of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Repor ng issued by the Ins tute of Chartered Accountants of India.

For SVP & Associates Chartered Accountants Firm registra on No. 003838N Sd/-