Jalan Transolutions India Ltd Auditor Reports

To the Members of JALAN TRANSOLUTIONS INDIA LIMITED Report on the Audit of the Standalone Financial Statements Qualified Opinion

We have audited the accompanying Standalone Financial Statements of JALAN TRANSOLUTIONS INDIA LIMITED (The Company), which comprise the Balance Sheet as at March 31, 2026, the Statement of Profit and Loss (including Other Comprehensive Income), the Statement of Changes in Equity and the Statement of Cash Flows for the year ended on that date, and a summary of the significant accounting policies and other explanatory information (hereinafter referred to as the Standalone Financial Statements).

In our opinion and to the best of our information and according to the explanations given to us, except for the possible effect of matter described in the basis for qualified opinion section of our report, the aforesaid Standalone Financial Statements give the information required by the Companies Act, 2013 (be Act) in the manner so required and give a true and fair view in conformity with the Indian Accounting Standards prescribed under section 133 of the Act read with the Companies (Indian Accounting Standards) Rules, 2015, as amended, (Ind AS) and other accounting principles generally accepted in India, of the state of affairs of the Company as at March 31, 2026, the loss and total comprehensive income, changes in equity and its cash flows for the year ended on that date.

Basis for qualified opinion

a. Going concern

The financial statements have been prepared on a going concern basis. However, the Company has incurred significant financial stress as at 31st March 2026, reflected by its negative net worth of ^41.89 crores and current liabilities of ^34.86 crores exceeding current assets of ^0.84 crores. Further, the Company has defaulted in repayment of principal and interest in respect of its borrowings during the year, except for payment of ^7.50 crores towards the One-Time Settlement (OTS) entered into with Union Bank of India, which was paid by the promoters and/or related parties on behalf of the Company. However, as the final settlement confirmation / No Objection Certificate (NOC) from the Bank has not been received as at the year end, no consequential adjustment in respect of the settlement has been recognised in the financial statements.

Further, substantial balances of trade creditors and other liabilities are subject to confirmation and reconciliation, and supporting documents in respect of certain balances were not made available for verification. Considering the above circumstances, material uncertainty exists that may cast significant doubt on the Companys ability to continue as a going concern.

b. Fixed Assets

As informed and represented by the management, the Company does not hold any fixed assets as at 31st March 2026 and no fixed assets existed during the year under audit. Accordingly, we were unable to carry out verification regarding the existence, ownership, impairment, or completeness of fixed assets, and consequently, we are unable to comment on the same.

c. The company has certain trade receivables as on 31 st March 2026. However, due to the absence of sufficient supporting evidence or third party confirmations, we are unable to verify the existence , recoverability, and valuation of these receivables.

d. the Company has not established its internal financial control with reference to Financial Statements on criteria based on or considering the essential components of internal control stated in the Guidance Note.

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Act. Our responsibilities under those Standards are further described in the Auditors Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India (ICA I) together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Companies Act, 2013 and the Rules made thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAls Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our qualified opinion.

Emphasis of Matter

1. Balances of Trade Payables, Borrowings, Advances from Customers, and Advances Recoverable

in Cash or Kind are subject to confirmation and reconciliation. Since confirmations from the respective parties have not been made available for our verification, the consequential impact, if any, on the financial statements remains unascertained. Company is continuously defaulting in payment of loans and advances. All the Bank Facilities of the companies has been blocked during the year, Directors personal bank account and group companies account has been used to fulfill companys working fund requirements.

2. We draw attention to the Companys significant outstanding financial liabilities, including secured loans, NBFC borrowings, and unsecured loans, which are subject to confirmation and reconciliation. No confirmations or supporting documents were made available from the respective lenders for our verification.

During the year, the Company entered into a One-Time Settlement (OTS) with Union Bank of India amounting to ^21.62 crores. As per the settlement deed, ^7.50 crores were paid by the taking unsecured loan from the promoters. Since final No Objection Certificate (NOC) from the Bank is awaiting , so effect of the said settlement (profit/loss on the settlement) has not yet been given in the books of accounts and O/s amount of loan for ^14.12 crores are reflecting in the financial liabilities as at the year end.

3. The Company has accepted unsecured loans amounting to Rs. 7.5 Crores from its Directors and related parties. Since aggregate of the paid-up share capital, free reserves and securities premium of the Company is negative as at the balance sheet date, so, its violation of borrowing limits prescribed under Section 180(1)(c) of the Companies Act, 2013. The said loans have been treated by the management in accordance with Rule 2(1)(c)(viii) of the Companies (Acceptance of Deposits) Rules, 2014.

4. As at 31st March 2026, total trade creditor balances amounting to ^3.12 crores are reflected in the books of accounts, out of which balances aggregating to ^2.70 crores pertain to parties outstanding for a substantial period and continue to be carried forward. The Company has not provided balance confirmations or adequate supporting documents in respect of such balances for our verification. Accordingly, we are unable to comment upon the existence, accuracy, completeness, or settlement of these balances and the consequential impact, if any, on the financial statements. The details of the creditors are given below:

Name	Amount
JAWALA SERVICE STATION	3619018
R K FILLING STATION	1722507
Saheed Bijender Filling Station	476412
Surendra Auto Service (Old) A/C	15141834
TAJ MIDWAY-REWARI	1049452
Guruji	1210320
Senior Tyre	224606
Jagdamba Traders	501300
ANUBHAV ARYA HUF (WORKS SHOP RENT)	288000
BAJAJ INTERNATIONAL	31360
BAJRANG BATTERY HOUSE	51700
SANYOG ENTERPRISES PVT LTD	2682652
SHRI GANESHJI MAHARAJ	123
Total	2,69,99,283

Our opinion is not modified in respect of the matters.

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the standalone financial statements of the current period. These matters were addressed in the context of our audit of the standalone financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. We have determined the matters described below to be the key audit matters to be communicated in our report.

Other Information

The companys management and board of directors are responsible for the other information. The other information comprises the information included in the Companys annual report, but does not include the financial statement and our auditors report thereon.

Our opinion on the financial statements does not cover the other information and we do not express any

form of assurance thereon.

In connection with our audit of the financial statement, our responsibility is to read the other information and, in doing is to read the other information and, in doing so. Consider whether the other information is materially inconsistent with the financial statement or our knowledge obtained in the audit or otherwise appears to be materially misstated. lf based on the work we have performed, we conclude that there is a material misstatement of this the other information, we are required to report that fact. We have nothing to report in this regard.

Responsibilities of Management and Those Charged with Governance for the Financial Statements

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

In preparing the financial statements, the Board of Directors is responsible for assessing the Companys ability to continue as a going corcern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, 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 Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors report that includes our opinion. Reasonable assurance is a High level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is 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) of the Companies Act, 2013, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls system 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 related to 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 financial statements or, if such disclosures are inadequate, to modify Our opinion. OM conclusions are based on the audit evidence obtained up to the date of our auditors report. However, future events or conditions may cause the Company to cease to continue as a going concern

Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation

Materiality is the magnitude of misstatements in the financial statements that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the financial statements may be influenced. We consider quantitative materiality and qualitative factors in

(i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the financial statements.

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 deficiencies in internal control that we identify during our audit. 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, related safeguards.

From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditors report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication

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 term s of sub-section (I 1) of section 143 ot the Companies Act, 2013, we give in the Annexure A a statement on the matters specified in paragraphs 3 and 4 of the Order, to the extent applicable.

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

a. Except for the possible effect of the matter described in the basis for qualified opinion section of our report, We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit.

b. Except for the possible effect of the matter described in the basis for qualified opinion section of our report, In our opinion, proper books of account as required by law have been kept by the Company so far as it appears from our examination of those books.

c. The Balance Sheet, the Statement of Profit and Loss (including other comprehensive income), the statement of changes in equity and the Cash Flow Statement dealt with by this Report are in agreement with the books of account.

d. Except for the possible effect of the matter described in the basis for qualified opinion section of our report, In our opinion, the aforesaid financial statements comply with the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014.

e. The matter described in the basis for qualified opinion section of our report, may have adverse effect on the functioning of the company.

f. On the basis of the written representations received from the directors as on 31st March, 2026 taken on record by the Board of Directors, none of the directors is disqualified as on 31st March, 2026 from being appointed as a director in terms of Section I 64(2) of the Act.

g. With respect to the adequacy of the internal financial controls over financial reporting of the Company and the operating effectiveness of such controls, refer to our separate Report in Annexure B.

h. With respect to the other matters to be included in the Auditors Report in accordance with the requirements of section I97(l 6) of the Act, as amended -

In our opinion and to the best of our information and according to the explanations given to us, there is no remuneration paid by the Company to its directors during the year.

i. 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:

a. The Company has disclosed the impact of pending litigations on the financial position in the Standalone Financial Statements. Refer Note 33 to its standalone financial statements.

b. The Company has made provision, as required under the applicable law or accounting standards,

for material foreseeable losses, if any, on long term contracts including derivative contracts.

c. There are no amounts outstanding which has to be transferred to Investor Education and Protection Fund by the company.

d. i. 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 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;

ii. 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 behalf of the Funding Party (Ultimate Beneficiaries) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries;

iii. 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, contain any material misstatement.

e. The company has not proposed and declared any dividend in previous year as well as current year.

f. Based on our examination which included test checks, the Company has not used accounting software for maintaining its books of account which has a feature of recording audit trail (edit log) facility.

For APT & Co. LLP

Chartered Accountants

Firm Registration No.:014621C/N500088 SD/-

CA. DILIP KUMAR SINGH

Partner

Membership No.: 523877 UDIN - 26523877WYKVSS1371 DATE: 27/05/2026

Annexure A to Independent Auditors Report

1. A. As informed and represented by the management, the Company does not hold any fixed assets as at 31st March 2026. Accordingly, the requirement of maintaining records showing full particulars, including quantitative details and situation of fixed assets, is not applicable.

B. As informed and represented by the management, the Company does not hold any intangible assets as at 31st March 2026. Accordingly, the requirement of maintaining records showing full particulars of intangible assets is not applicable.

2. As informed and represented by the management, the Company did not hold any fixed assets during the year ended 31st March 2026. Accordingly, the requirement of physical verification of fixed assets is not applicable.

3. According to the information and explanations given to us and based on our examination of the records of the Company, the Company does not hold any immovable properties as at 31st March 2026. Accordingly, reporting under this clause is not applicable.

4. Since there is no any property, plant and equipment (including right of use assets) or intangible assets as on 31 st March, 2026 so this clause is not applicable.

5. According to the information and explanations given to us and on the basis of our examination of the records of the Company, there are no proceedings initiated or pending against the Company for holding any benami property under the Prohibition of Benami Property Transactions Act, 1988 and rules made there under.

6. The Company is a service company, primarily rendering goods of transport services. Accordingly, it does not hold any physical inventories. Hence reporting under clause 3(ii)(a) of the Order is not applicable.

7. As per the financials and data made available to us, no new working capital limits have been sanctioned to the Company during the year and, hence, reporting under clause 3(ii)(b) of the order is not applicable to the Company.

8. According to the information and explanations given to us, the Company has not made any investments in or provided security to companies, firms, limited liability partnerships or any other parties during the year. The Company has not provided guarantees or granted loans or advances in the nature of loans to companies, firms, limited liability partnerships or other parties. Accordingly, the provision of clause 3(iii)(a),(b), (c),(d),(e) and (f) of the order are not applicable to the Company.

9. In our opinion and according to the information and explanations given to us, the Company has neither made any investments nor has it given loans or provided guarantee or security as specified under Section 185 of the Companies Act, 2013 (be Act) and the Company has not provided any security as specified under Section 186 of the Act. Accordingly, paragraph 3 (iv) of the Order is not applicable.

10. The Company has not accepted any deposits or amounts which are deemed to be deposits from the public. Accordingly, clause 3(v) of the Order is not applicable.

11. According to the information and explanations given to us, the Central Government has not prescribed the maintenance of cost records under Section 148(1) of the Act for the services provided by it. Accordingly, clause 3(vi) of the Order is not applicable.

12. According to the information and explanations given to us and on the basis of our examination of the books of account, the Company has generally been regular in depositing undisputed statutory dues, including

Goods and Services tax, Provident Fund, Employees State Insurance, Income Tax, Service Tax and other material statutory dues applicable to it with the appropriate authorities. However, as at March 31, 2026, statutory dues including TDS, VAT, and income tax amounting to ^23.80 lakhs and ^7.44 lakhs respectively remain unpaid.

There were no undisputed amounts payable in respect of Goods and Service tax, Provident Fund, Employees State Insurance, Income Tax, Service Tax and other material statutory dues in arrears as at March 31, 2026 for a period of more than six months from the date they became payable other than as disclosed in the financial statements

13. There were no transactions relating to previously unrecorded income that have been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (43 of 1961).

14. The Company has defaulted in repayment of loans or other borrowings or in the payment of interest thereon to lenders, refer Note no 12 and 14 of the standalone financial statement.

15. The Company has not been declared wilful defaulter by any bank or financial institution or government or any government authority.

16. During the year, the Company has not raised term loans. Hence, reporting under clause 3(ix)(c) of the Order is not applicable to the Company.

17. During the year, the Company has not raised funds on short term basis. Hence, reporting under clause 3(ix)(d) of the Order is not applicable to the Company.

18. During the year, the Company has not taken any funds from any entity or person on account of or to meet the obligations of its subsidiaries, associates or joint ventures.

19. During the year, the Company has not raised loans on the pledge of securities held in its subsidiaries, joint ventures or associate companies. Hence, reporting under clause 3(ix)(f) of the order is not applicable to the Company

20. The Company has outstanding balances payable to Capital Trade Links, a Non-Banking Financial Company (NBFC), from which the Company has availed loan facilities., which are subject to confirmation and reconciliation. During the previous year, an insolvency petition filed by CTL under Section 7 of the Insolvency and Bankruptcy Code, 2016 was admitted by the Honble NCLT, which was subsequently withdrawn pursuant to a settlement entered into between the parties. As informed by the management, the Company has exited the insolvency proceedings vide order dated 21st August 2025. However, no external confirmations or supporting documents in respect of the outstanding balances, including interest and related dues, were made available for our verification. Accordingly, we are unable to comment upon the accuracy, completeness, and consequential impact, if any, of such balances in the financial statements.

21. (a) During the course of our examination of the books and records of the Company, carried out in accordance with the generally accepted auditing practices in India, and according to the information and explanations given to us, we have not come across any instance of material fraud by or on the Company, noticed or reported during the year, nor have we been informed of such case by management.

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

22. As represented to us by the management, there are no whistle blower complaints received by the Company during the year.

23. The Company is not a Nidhi Company and hence reporting under clause (xii) of the Order is not applicable.

24. In our opinion, the Company is in compliance with Section 177 and 188 of the Companies Act, 2013 with respect to applicable transactions with the related parties and the details of related party transactions have been disclosed in the standalone financial statements as required by the applicable accounting standards.

25. The Company does not have a formal internal audit system. In our opinion the internal control system is not commensurate with the size and nature of business.

26. In our opinion during the year the Company has not entered into any non-cash transactions with its Directors or persons connected with its directors. and hence provisions of section 192 of the Companies Act, 2013 are not applicable to the Company.

27. In our opinion, the Company is not required to be registered under section 45-IA of the Reserve Bank of India Act, 1934. Hence, reporting under clause 3(xvi)(a), (b) and (c) of the Order is not applicable.

28. In our opinion, there is no core investment company within the Group (as defined in the Core Investment Companies (Reserve Bank) Directions, 2016) and accordingly reporting under clause 3(xvi)(d) of the Order is not applicable.

29. The Company has not incurred cash losses during the financial year covered by our audit. However, the Company had incurred cash losses in the immediately preceding financial year.

30. The Company has defaulted in repayment of its obligations to lenders and installments of loans outstanding as at the balance sheet date and has reported negative net worth as at 31st March 2026. Although the Company has earned profit during the current financial year, material uncertainty continues to exist regarding its ability to meet its liabilities as and when they fall due within a period of one year from the balance sheet date. Accordingly, we are unable to comment on the Companys capability to discharge its liabilities in the normal course of business.

31. The Company is not required to spend towards Corporate Social Responsibility (CSR) as per Section 135 of the Companies Act, 2013, since there is no average profit in the last 3 years calculated as per the provisions of the Act. Hence reporting under clause 3(xx)(a) of the order is not required.

32. There are no unspent amounts under sub-section (5) of Section 135 of the Act, pursuant to any ongoing project requiring transfer to special account in compliance with the provision of sub-section (6) of section 135 of the Act. Accordingly, reporting under clause 3(xx)(b) of the Order is not applicable for the year.

33. The clause 3(xxi) of the Order is not applicable to the Standalone Financial Statements of company. For APT & Co. LLP

Chartered Accountants

Firm Registration No.:014621C/N500088

SD/-

CA. DILIP KUMAR SINGH

Partner

Membership No.: 523877 UDIN - 26523877WYKVSS1371 DATE: 27/05/2026

ANNEXURE - B TO THE AUDITORS REPORT

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

We have audited the internal financial controls over financial reporting of JALAN TRANSOLUTIONS INDIA LIMITED. (The Company) as of 31 March 2026 in conjunction with our audit of the financial statements of the Company for the year ended on that date.

Managements Responsibility for Internal Financial Controls

The Companys management is responsible for establishing and maintaining internal financial controls 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 Reporting issued by the Institute of Chartered Accountants of India (ICAI). 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 Companies Act, 2013.

Auditors Responsibility

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 on Audit of Internal Financial Controls over Financial Reporting (the Guidance Note) and the Standards on Auditing, issued by ICAI 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 Internal

Financial Controls and, both issued by the Institute of Chartered Accountants of India. 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 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 system over financial reporting and their operating effectiveness. Our audit of internal financial controls over financial reporting included obtaining an understanding of internal financial 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 risks of material misstatement of the financial statements, whether due to fraud or error.

Meaning of Internal Financial Controls Over Financial Reporting

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 financial statements.

Inherent Limitations of Internal Financial Controls Over Financial Reporting

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 financial controls over financial reporting to future periods are subject to the risk that the internal financial control over financial reporting may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Qualified Opinion

According to the information and explanation given to us, the Company has not established its internal financial control with reference to Financial Statements on criteria based on or considering the essential components of internal control stated in the Guidance Note. Because of this reason, we are unable to obtain sufficient appropriate audit evidence to provide a basis for our opinion whether the Company had internal financial controls with reference to Financial Statements and whether such internal financial controls were operating effectively as at March 31, 2026. We have considered the disclaimer reported above in determining the nature, timing, and extent of audit tests applied in our audit of the Financial Statements of the Company, and the disclaimer does not affect our opinion on the Financial Statement.

SD/-

For APT & Co. LLP

Chartered Accountants

Firm Registration No.:014621C/N500088

CA. DILIP KUMAR SINGH

Partner

Membership No.: 523877

UDIN - 26523877WYKVSS1371 DATE:27/05/2026

Statement on Impact of Audit Qualifications (for audit report with modified opinion) submitted along-with Annual Audited Financial Results

I.

Statement on Impact of Audit Qualifications for the Financial Year ended March 31, 2026 (See Regulation 33 / 52 of SEBI (LODR) Regulations, 2015)

(Amounts in Lakhs)

S.	Particulars	Audited Figures (as	Adjusted Figures (audited
No		reported before adjusting	figures after adjusting for
		for qualifications)	qualifications)
1	Turnover / Total income	228.70	228.70
2	Total Expenditure	223.02	223.02
3	Net Profit/(Loss)	1.38	1.38
4	Earnings Per Share	0.01	0.01
5	Total Assets	86.58	86.58
6	Total Liabilities	4276.08	4276.08
7	Net Worth	(4189.51)	(4189.51)

II. Audit Qualification (each audit qualification separately):

a.	Details of Audit Qualification	The financial statements have been prepared on a going concern basis. However, the Company has incurred significant financial stress as at 31st March 2026, reflected by its negative net worth of ^4189.51 Lakhs and current liabilities of ^3486.43 lakhs exceeding current assets of ^84.25 Lakhs. Further, the Company has defaulted in repayment of principal and interest in respect of its borrowings during the year, except for payment of ^7.50 crores towards the One-Time Settlement (OTS) entered into with Union Bank of India, which was paid by the promoters and/or related parties on behalf of the Company. However, as the final settlement confirmation / No Objection Certificate (NOC) from the Bank has not been received as at the year end, no consequential adjustment in respect of the settlement has been recognised in the financial statements.
		Further, substantial balances of trade creditors and other liabilities are subject to confirmation and reconciliation, and supporting documents in respect of certain balances were not made available for verification. Considering the above circumstances, material uncertainty exists that may cast significant doubt on the Companys ability to continue as a going concern
b.	Type of Audit Qualification: Qualified Opinion Disclaimer of Opinion Adverse Opinion	Qualified Opinion
c.	Frequency of qualification: Whether appeared first time / repetitive / since how long continuing	The qualification is disclosed as qualification for the fifth time in Audit Report for the financial year ending on 31st March, 2026.
d.	For Audit Qualification(s) where the impact is quantified by the auditor, Managements Views	Not Applicable (Impact is not quantifiable)
e.	For Audit Qualification(s) where the impact is not quantified by the auditor :	(i) Not Quantifiable (ii) During last few years, company was under severe financial crisis. In order to make it debt free and strengthen its operations, the company was in search of some new equity partners but in the mean while the promoters showed the commitment by making successful OTS payment to union Bank during the year.
	(i) Managements estimation on the impact of audit qualification	(iii) Management Remarks are self-explanatory.
	(ii) If management is unable to estimate the impact, reasons for the same:
	(iii) Auditors Comments on (i) or (ii) above
a.	Details of Audit Qualification		The Companys trade receivables, trade payables, borrowings, and certain other balances are subject to verification, confirmation, and reconciliation. Adequate supporting documents and third-party confirmations in respect of such balances were not available, and accordingly the consequential impact, if any, on the standalone financial statements remains unascertained.
b.	Type of Audit Qualification:		Qualified Opinion
	Qualified Opinion
	Disclaimer of Opinion
	Adverse Opinion
c.	Frequency of qualification: Whether appeared first time / repetitive / since how long continuing		The qualification is disclosed as qualification for the First time in Audit Report for the financial year ending on 31st March, 2026.
d.	For Audit Qualification(s) where the impact is quantified by the auditor, Managements Views		Not Applicable (Impact is not quantifiable)

e.	For Audit Qualification(s) where the impact is not quantified by the auditor :	(i) Not Quantifiable (ii) Company does not hold any assets during the year.
	(i) Managements estimation on the impact of audit	(iii) Management Remarks are self-explanatory.
	qualification
	(ii) If management is unable to estimate the impact, reasons for the same:
	(iii) Auditors Comments on (i) or (ii) above

a.	Details of Audit Qualification	The Companys outstanding financial liabilities, including secured loans, NBFC borrowings, and unsecured loans, are subject to confirmation and reconciliation. Supporting documents and confirmations from the respective lenders were not available, and accordingly the consequential impact, if any, on the standalone financial statements remains unascertained.
b.	Type of Audit Qualification:	Qualified Opinion
	Qualified Opinion Disclaimer of Opinion Adverse Opinion
c.	Frequency of qualification: Whether appeared first time / repetitive / since how long continuing	The qualification is disclosed as qualification for the First time in Audit Report for the financial year ending on 31st March, 2026.
d.	For Audit Qualification(s) where the impact is quantified by the auditor, Managements Views	Not Applicable (Impact is not quantifiable)
e.	For Audit Qualification(s)	(i) Not Quantifiable
	where the impact is not quantified by the auditor :	(ii) Qualification relates to financial preparation process and impact of which is not quantifiable
	(i) Managements estimation on the impact of audit qualification	(iii) Management Remarks are self-explanatory.
	(ii) If management is unable to estimate the impact, reasons for the same:
	(iii) Auditors Comments on (i) or (ii) above
a.	Details of Audit Qualification	the Company has not established its internal financial control with reference to Financial Statements on criteria based on or considering the essential components of internal control stated in the Guidance Note
b.	Type of Audit Qualification: Qualified Opinion Disclaimer of Opinion Adverse Opinion	Qualified Opinion
c.	Frequency of qualification: Whether appeared first time / repetitive / since how long continuing	The qualification is disclosed as qualification for the Third time in Audit Report for the financial year ending on 31st March, 2026.
d.	For Audit Qualification(s) where the impact is quantified by the auditor, Managements Views	Not Applicable (Impact is not quantifiable)
e.	For Audit Qualification(s)	(i) Not Quantifiable
	where the impact is not quantified by the auditor :	(ii) Qualification relates to financial preparation process and impact of which is not quantifiable
	(i) Managements estimation on the impact of audit qualification	(iii) Management Remarks are self-explanatory.
	(ii) If management is unable to estimate the impact, reasons for the same:
	(iii) Auditors Comments on (i) or (ii) above

III. Signatories

For Jalan Transolutions (India) Limited

Manish Jalan (Managing Director)

Manjeet Kumar (CFO)

Sanjay Sharma

(Chairman of Audit Committee)

For APT & Co. LLP

Ch artered A ccoun tan ts

Firm Registration No.:014621C/N500088

Sd/-

CA. DILIP KUMAR SINGH

Partner

Membership No.: 523877

Date: 27/05/2026 Place: Delhi