Infonative Solutions Ltd Auditor Reports

The Board of Directors Infonative Solutions Limited

410/90, 90 Mansarover Chamber No Internal Road

Nehru Place, Near Modi Tower, South Delhi, Delhi-110019

Dear Sirs,

1. We have examined the attached Restated Financial Information of Infonative Solutions Limited (the "Company") which comprises of the Restated Statement of Assets and Liabilities as at March 31, 2024, March 31, 2023, March 31, 2022 and the related Restated Statement of Profit & Loss for the year ended on March 31, 2024, March 31, 2023 and March 31, 2022 and a summary of Material Accounting Policies, and other explanatory information (collectively, the "Restated Financial Information/Statements") annexed to this report, as approved by the Board of Directors of the Company (the "Board") at their meeting held on August 05, 2024 for the purpose of inclusion in the Draft Red Herring Prospectus/ Red Herring Prospectus and the

Prospectus (collectively, the "Offer Documents") prepared by the Company in connection with the its proposed Initial Public Offer of equity shares ("IPO") in SME Emerge Platform of National Stock Exchange of India Limited/ SME Platform of Bombay Stock Exchange ("BSE"). These Restated Summary Statements have been prepared in accordance with the requirements of:

(i) Section 26 of Part I of Chapter III of the Companies Act, 2013 as amended ("the Act");

(ii) The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements)

Regulations 2018, as amended ("ICDR Regulations"); and

(iii) The Guidance Note on Reports in Company Prospectus (Revised 2019) issued by the Institute of Chartered Accountants of India ("ICAI"), as amended ("the Guidance Note").

2. The Companys Management is responsible for the preparation of the Restated Financial Information which have approved by Board of Directors for the purpose of inclusion in the Draft Offer Document/Offer Document to be filed with Securities and Exchange Board of India, Registrar of Companies, Delhi and

Haryana, BSE Limited ("BSE") and National Stock Exchange of India ("NSE") (together, with BSE Limited, the "Stock Exchanges") in connection with the proposed SME IPO. The Board of Directors responsibility includes designing, implementing and maintaining adequate internal control relevant to the preparation and presentation of the Restated Financial Information. The Board of Directors is also responsible for identifying and ensuring that the Company complies with the Companies Act, (ICDR) Regulations and the Guidance Note.

3. We have examined such Restated Financial Information taking into consideration:

a) Terms of reference and terms of our engagement agreed upon with you in accordance with our engagement letter in connection with the proposed IPO of the Company; b) The Guidance Note also requires that we comply with the ethical requirements of the Code of Ethics issued by the ICAI; c) Concepts of test checks and materiality to obtain reasonable assurance based on verification of evidence supporting the Restated Financial Information; and d) The requirements of Section 26 of the Act and the ICDR Regulations. Our work was performed solely to assist you in meeting your responsibilities in relation to your compliance with the Act, the ICDR Regulations and the Guidance Note in connection with the IPO.

4. These Restated Financial Information have been complied by the management from:

(i) the audited Financial Statements of the Company as at and for the year ended on March 31, 2024, March 31, 2023, and March 31, 2022 prepared in accordance with Accounting Standard as prescribed under section 133 of the Act and other accounting principles generally accepted in India, which has been approved by the Board of Directors at their meeting held on July 01, 2024, September 05, 2023, and September 01, 2022 respectively.

5. For the purpose of our examination, we have relied on audit report issued by us dated July 01, 2024, and by previous auditor M/s Gupta Atul & Co., Chartered Accountants dated September 05, 2023 and September 01, 2022 for the year ended March 31, 2024, 2023 and 2022 respectively as referred in paragraph 4 above.

6. Based on our examination and according to the information and explanations given to us, we report that the Restated Financial Information:

a) have been prepared after incorporating adjustments for the changes in accounting policies, material errors and regrouping/reclassifications retrospectively, if any in the financial years/period ended March 31, 2023 and 2022 to reflect the same accounting treatment as per the accounting policies and grouping/classifications followed as at and for the year ended March 31, 2024; b) do not require any adjustment for modification as there is no modification in underlying audit reports; and c) have been prepared in accordance with the Act, ICDR Regulations and the Guidance Note.

7. We have complied with the relevant applicable requirements of the Standard on Quality Control (SQC 1), Quality Control for Firms that perform Audit and Review of Historical Financial Information, and other Assurance and Related Services Engagement.

8. The restated financial statement does not reflect the effects of events that occurred subsequent to the respective dates of the reports on Financial Statements mentioned in paragraph 4 above.

9. This report should not in any way be construed as a reissuance or re-dating of any of the previous audit reports issued by us, nor should this report be construed as a new opinion on any of the financial statements referred to herein.

10. We have no responsibility to update our report for events and circumstances occurring after the date of the report.

11. Our report is intended solely for use of the Board of Directors for purpose for inclusion in the Draft Offer

Document/ Offer Document to be filed with SEBI, Registrar of Companies, Delhi and Haryana and Stock Exchanges in connection with the proposed SME IPO. Our report should not be used, referred to, or distributed for any other purpose except with our prior consent in writing. Accordingly, we do not accept or assume any liability or any duty of care for any other purpose or to any other person to whom this report is shown or into whose hands it may come without our prior consent in writing.

For Kailash Chand Jain & Co.

Chartered Accountants

Firm Registration Number: 112318W

Abhishek Jain

Partner

Membership Number: 407973

UDIN: 24407973BKDFMY8843

Place: New Delhi

Date: August 05, 2024