Logica Infoway Ltd Auditor Reports

To The Members of LOGICA INFOWAY LIMITED

(Erstwhile EASTERN LOGICA INFOWAY LIMITED),

Report on the Audit of the Standalone Financial Statements:

Opinion:

We have audited the financial statements of LOGICA INFOWAY LIMITED (Erstwhile EASTERN LOGICA INFOWAY LIMITED) ("the company"), which comprise the Balance Sheet as of March 31, 2025, and the Statement of Profit and Loss, the Cash Flow Statement for the year then ended and notes to the 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 financial statements give the information required by the Companies Act, 2013 ("the Act") in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India, of the state of affairs of the Company as at March 31, 2025, its profit and its cash flows for the year ended on that date.

Basis for Opinion:

We conducted our audit by the Standards on Auditing ("SAs") specified under section 143(10) of the Companies Act, 2013. 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 by 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 Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities by these requirements and the ICAIs Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion on the financial statements.

Key Audit Matters:

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the consolidated financial statements of the current period. These matters were addressed in the context of our audit of the consolidated 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 matter described below to be the key audit matters to be communicated in our report.

SL No.	Key Audit Matter	Auditors Response
	Litigations and claims - provisions and contingent liabilities	Our key procedures included, but not limited to, the following:
	Refer to note no. 2.25 to the financial statements.	a) Assessed appropriateness of the Companys accounting policies relating to provisions and contingent liability by comparing them with the applicable accounting standards;
	The Company is involved in direct and indirect tax litigations (litigations) that are pending with different statutory authorities.	b) Assessed the Companys process and the underlying controls for identification of the pending litigations and completeness for financial reporting and also for monitoring of significant developments about such pending litigations;
	The level of management judgement associated with determining the need for, and the quantum of, provisions for any liabilities arising from these litigations is considered to be high. This judgement is dependent on several significant assumptions and assessments which involve interpreting the various applicable rules, regulations, and practices and considering precedents in the various jurisdictions.	c) Assessed the Companys assumptions and estimates in respect of litigations, including the liabilities or provisions recognized or contingent liabilities disclosed in the financial statements. This involved assessing the probability of an unfavourable outcome of a given proceeding and the reliability of estimates of related amounts;
	This matter is considered a key audit matter, in view of the uncertainty regarding the outcome of these litigations, the significance of the amounts involved and the subjectivity involved in managements judgement as to whether the amount should be recognized as a provision or only disclosed as contingent liability in the consolidated financial statements.	d) Performed substantive procedures on the underlying calculations supporting the provisions recorded, if any;
	The Company has material uncertain tax positions including matters under dispute which involve significant judgment to determine the possible outcome of these disputes.	e) Assessed the managements conclusions through understanding relevant judicial precedents in similar cases and the applicable rules and regulations;
		f) Engaged subject matter specialists to gain an understanding of the current status of litigations and monitored changes in the disputes, if any, through discussions with the management and by reading external advice received by the Company, where relevant, to validate managements conclusions; and
		g) Assessed the appropriateness of the Companys description of the accounting policy, disclosures related to litigations and whether these are adequately presented in the consolidated financial statements. h) About Note No. 2.25 to the Annual Financial Statements, point no. 13, where DGGI Investigation was held in respect of, the availment of fraudulent Input Tax Credit, regarding which the company was forced to make an upfront payment of ^500.00/ - Lacs. However, as per the Management, the Company is not liable to pay the same and writ petition has been filed before Honble High Court of Delhi.

Information Other than the Financial Statements and Auditors Report Thereon

The Companys Board of Directors is responsible for the other information. The other information comprises the information included in the Annual report but does not include the financial statements 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 conclusion thereon.

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

Responsibilities of Management Governance for the Standalone Financial Statements:

The Companys Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act, 2013 concerning the preparation of these financial statements that give a true and fair view of the financial position, and financial performance of the Company by the accounting principles generally accepted in India, including the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules,2015.

This responsibility also includes maintenance of adequate accounting records by 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 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, management is responsible for assessing the Companys ability to continue as a going concern, disclosing, as applicable, matters related to going concerned and using the going concern basis of accounting unless management either intends to liquidate the Company or to cease operations or has no realistic alternative but to do so.

The Board of Directors is 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 by 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 based on these financial statements.

As part of an audit by 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 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 an 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. Our 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 evaluating the results of our work: and (ii) evaluating 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 issued by the Central Government of India in terms of sub-section (11) of section 143 of The Companies Act 2013, we give in the "Annexure A" statement on the matters specified in paragraph 3 and 4 of the order, to the extent applicable.

2 As required by section 143(3) of the Act, we 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 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 examination of those books.

(c) The Balance Sheet, the Statement of Profit and Loss, and the Cash Flow Statement dealt with by this Report agree with the books of accounts.

(d) In our opinion the aforesaid financial statements comply with Accounting Standards specified under section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules,2015.

(e) Based on written representations received from the directors as of March 31, 2025, taken on record by the Board of Directors, none of the directors is disqualified as of March 31, 2025, from being appointed as a director in terms of Section 164(2) of the Act.

(f) Concerning the adequacy of the internal financial controls over financing reporting of the company and the operating effectiveness of such controls, refer to our separate report in "Annexure B"

(g) In our opinion, the managerial remuneration for the year ended March 31, 2025, has been paid/provided by the Company to its directors by the provisions of Section 197 read with Schedule V to the Act;

(h) Concerning the other matters to be included in the Auditors Report by Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us:

i) The Company has disclosed the impact of pending litigations on its financial position in its standalone financial statements - Refer to Note 2.25 to the financial statements.

ii) The Company does not have any long-term contracts requiring a provision for material foreseeable losses.

iii) The Company does not have any amounts required to be transferred to the Investor Education and Protection Fund.

iv)

(a) The management has represented that, to the best of its knowledge and belief, other than as disclosed in the notes to the accounts, no funds have been advanced loaned or invested by the company to or in any other person(s) or entities, including foreign entities ("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 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, other than as disclosed in the notes to the accounts, no funds have been received by the company from any person(s) or entity(ies), including foreign entities ("Funding Parties"), with the understanding, whether recorded in writing or otherwise, that the company shall, whether, directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party ("Ultimate Beneficiaries") or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries; and

(c) Based on such audit procedures that were 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 (a) and (b) contain any material misstatement;

v) The company has not declared or paid any dividend during the year.

vi) Based on our examination which included test checks, the company has used accounting software for maintaining its books of account which has a feature of recording audit trail (edit log) facility and the same has operated throughout the year for all relevant transactions recorded in the software. Further, during our audit, we did not come across any instance of the audit trail feature being tampered with.

ANNEXURE B TO THE INDEPENDENT AUDITORS REPORT OF EVEN DATE ON THE FINANCIAL STATEMENTS OF LOGICA INFOWAY LIMITED (ERSTWHILE EASTERN LOGICA INFOWAY LIMITED) FOR THE YEAR ENDED MARCH 31, 2025

Report on the Internal Financial control under clause (i) of sub-section 3 of section 143 of the Act, 2013 ("the Act")

To the members of Logica Infoway Limited (Erstwhile Eastern Logica Infoway Limited),

We have audited the internal financial controls over the financial reporting of LOGICA INFOWAY LIMITED (Erstwhile Eastern Logica Infoway Limited) ("the Company") as of March 31, 2025, 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 the 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 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, 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 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 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 judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.

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

Meaning of Internal Financial Controls 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 by 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 by generally accepted accounting principles and that receipts and expenditures of the company are being made only by 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.

Opinion

In our opinion, the Company has, in all material respects, an adequate internal financial control system over financial reporting and such internal financial controls over financial reporting were operating effectively as of March 31, 2025, based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India.

ANNEXURE A REFERRED TO IN PARAGRAPH 1 UNDER THE HEADING "REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS" OF OUR REPORT OF EVEN DATE ON THE FINANCIAL STATEMENTS OF LOGICA INFOWAY LIMITED (ERSTWHILE EASTERN LOGICA INFOWAY LIMITED) FOR THE YEAR ENDED MARCH 31, 2025

In terms of the information and explanations sought by us and given by the Company and the books of account and records examined by us in the normal course of audit and to the best of our knowledge and belief, we state that:

(i)

(a)

(A) The Company has maintained proper records showing full particulars, including quantitative details and the situation of the Property, Plant and Equipment.

(B) The Company does not have any intangible assets and accordingly, reporting under clause (i)(a)(B) of paragraph 3 of the Order is not applicable.

(b) Property, Plant and Equipment have been physically verified by the management at reasonable intervals during the year and no material discrepancies were identified on such verification.

(c) According to the information and explanations given by the management, there are no immovable properties, and accordingly, reporting under clause (i)(c) of paragraph 3 of the Order is not applicable.

(d) The Company has not revalued its Property, Plant and Equipment and its intangible assets during the year and accordingly, reporting under clause (i)(d) of paragraph 3 of the Order is not applicable.

(e) According to the information and explanations given by the management, no proceeding has been initiated or pending against the Company for holding benami property under the Benami Transactions (Prohibition) Act, 1988 and rules made thereunder and accordingly, reporting under clause (i)(e) of paragraph 3 of the Order is not applicable.

(ii)

(a) The inventory has been physically verified during the year by the management. In our opinion, the frequency of verification, coverage & procedure of such verification is reasonable and appropriate. No material discrepancies were noticed on such verification.

(b) The company has been sanctioned working capital limits of over five crore rupees, in aggregate, from banks or financial institutions based on the security of current assets. However, the details submitted in the quarterly returns or statements are not in agreement with the books of accounts. The details of the same are as under:

Quarter	Particulars	Amount as per Statement provided to bank (Rs. in Lakhs)	Amount as per Book (Rs. in Lakhs)
Q1	Trade Receivables (Less than 90 days)	7,554.00	6,593.05
	Trade Receivables (More than 90 days)	180.00	781.23
	Trade Payables	4,495.00	4,628.15
	Stock	8,745.00	8,773.34
	T otal Revenue	20,495.00	20,500.00
Q2	Trade Receivables (Less than 90 days)	8,054.00	7,443.88
	Trade Receivables (More than 90 days)	667.00	733.94
	Trade Payables	4,487.00	4,322.00
	Stock	10,100.00	10,121.93
	T otal Revenue	50,064.00	50,217.40
Q3	Trade Receivables (Less than 90 days)	11,324.00	11,330.43
	Trade Receivables (More than 90 days)	428.00	1,258.32
	Trade Payables	6,826.00	6,800.45
	Stock	11,392.00	11,434.99
	T otal Revenue	80,888.00	81,941.31
Q4	Trade Receivables (Less than 90 days)	10,919.00	10,510.73
	Trade Receivables (More than 90 days)	419.00	869.69
	Trade Payables	4,752.00	4,989.97
	Stock	9,912.00	9,932.43
	T otal Revenue	1,08,748.00	1,08,665.58

(iii) During the year, the Company has not made any investments in, provided any guarantee or security and granted any loans or advances like loans, secured or unsecured, to companies, firms, Limited Liability Partnerships or any other parties and accordingly, reporting under clause (iii) of paragraph 3 of the Order is not applicable.

(iv) According to the information and explanations given by the management, the company has not granted any loans, made investments or provided guarantees and securities to any party during the year. Hence, the requirements under clause (iv) of paragraph 3 of the Order do not apply to the Company.

(v) According to the information and explanations given by the management, the Company has not accepted any deposits from the public within the meaning of sections 73 to 76 of the Companies Act, 2013 and the rules framed there under. No order has been passed by the Company Law Board National Company Law Tribunal Reserve Bank of India or any Court or any other Tribunal in this respect.

(vi) The maintenance of cost records has not been specified by the Central Government under sub-section (1) of Section 148 of the Companies Act, 2013 for the business activities carried out by the Company and accordingly, reporting under clause (vi) of paragraph 3 of the Order is not applicable.

(vii)

(a) According to the information and explanations given by the management and the records of the Company examined by us, in our opinion, undisputed statutory dues including Goods and Service Tax, Provident fund, Employees State Insurance, Income-tax, Sales-Tax, Service Tax, Customs duty, Excise Duty, Value Added Tax, Cess have been regularly deposited by the company with appropriate authorities in all cases during the year.

No undisputed amounts are payable in respect of Goods and Services Tax, Provident Fund, Employees State Insurance, Income Tax, Sales Tax, Service Tax, Customs duty, duty of Excise, Value Added Tax, Cess and any other statutory dues were in arrears as at March 31, 2025, for more than six months from the date they became payable.

(b) According to the information and explanation given by the management and examination of records of the Company, the outstanding dues of income tax, goods and service tax, customs duty, cess and any other statutory dues on account of any dispute, are as follows:

Name of the Statute	Nature of Dues	Amount (Rs. in Lacs)	The period to which the amount relates	Forum where the dispute is pending
West Bengal Entry Tax	Entry Tax	4.14	2016-17	Appellate Tribunal
West Bengal Entry Tax	Entry Tax	4.93	2017-18	Appellate Tribunal
Income Tax Act, 1961	Income Tax	45.74	2012-13	CIT(A)
Goods and Services Tax Act	Goods and Service Tax	60.85*	2019-20	Appellate Tribunal
Goods and Services Tax Act	Goods and Service Tax	77.91*	2020-21	Appellate Tribunal
Ministry of Labour, Govt. of India	Provident Fund	3.20	2004-08	High Court
Goods and Services Tax Act	Goods and Service Tax	386.00	2021-22	Appellate Tribunal
Goods and Services Tax Act	Goods and Service Tax	235.93	2019-20	Appellate Tribunal
Goods and Services Tax Act	Goods and Service Tax	500.00	2023-24	High Court
Goods and Services Tax Act	Goods and Service Tax	43.80	2017-18	Appellate Tribunal
Govt of Telangana Commercial Tax Dept.	Commercial Tax	43.23	2016-17	High Court
Govt of Telangana Commercial Tax Dept.	Commercial Tax	213.23	2015-16 to 2017-18	High Court

*These amounts are net of the amount paid/adjusted under protest

(viii) According to the information and explanations given by the management, the Company has not surrendered or disclosed any transaction, previously unrecorded in the books of account, in the tax assessments under the Income Tax Act, 1961 as income during the year and accordingly, reporting under clause (viii) of paragraph 3 of the Order is not applicable.

(ix)

(a) In our opinion and according to the information and explanations given by the management, the Company has not defaulted in repayment of loans or borrowings or payment of interest thereon to any lender.

(b) The company has not been declared a wilful defaulter by any bank or financial institution or government or any government authority.

(c) In our opinion and according to the information explanation provided by the management, no money was raised by way of term loans during the year and accordingly, reporting under clause (ix)(c) of paragraph 3 of the Order is not applicable.

(d) According to the information and explanations given to us by the management, and the procedures performed by us, and on an overall examination of the financial statements of the company, we report that no funds raised on a short-term basis have been used for long-term purposes by the company.

(e) The Company did not have any subsidiary, associate or joint venture during the year and hence, reporting under clause (ix)(e) & (ix)(f) of paragraph 3 of the Order is not applicable.

(x)

(a) The company did not raise any money by way of an Initial Public Offer or further public offer (including debt instruments) during the year. Accordingly, the provisions stated in paragraph 3(x)(a) of the order do not apply to the company.

(b) The Company has made a Preferential allotment of fully paid 6,93,000 equity shares (Face Value Rs. 10/ - & Premium of ^222.30/ -) during the year, are in compliance with section 42 and section 62 of the Companies Act, have been used for the purpose for which the funds were raised.

(xi)

(a) No fraud by the Company or no material fraud on the Company has been noticed or reported during the year.

(b) During the year, no report under sub-section (12) of Section 143 of the Companies Act, 2013 has been filed by us in Form ADT - 4 as prescribed under Rule 13 of Companies (Audit and Auditors) Rules, 2014 with the Central Government.

(c) As represented to us by the management, there are no whistle-blower complaints received by the Company during the year (and up to the date of this report) and accordingly, reporting under clause (xi)(c) of paragraph 3 of the Order is not applicable.

(xii) In our opinion and according to the information and explanations given by the management, the company is not a Nidhi company and accordingly, reporting under clause (xii) of paragraph 3 of the Order is not applicable.

(xiii) According to the information and explanations given by the management and based on our examination of the records of the Company, transactions with the related parties comply with sections 177 and 188 of the Act, where applicable and details of such transactions have been disclosed in the financial statements as required by the applicable accounting standards.

(xiv)

(a) The company has an internal audit system commensurate with the size and nature of its business.

(b) We have considered the internal audit reports issued during the year and up to the date of our report, in respect of the period under audit.

(xv) According to the information and explanations given by the management, in our opinion during the year the Company has not entered into non-cash transactions with directors or persons connected with its directors and hence, provisions of section 192 of the Act do not apply to the company and accordingly, reporting under clause (xv) of paragraph 3 of the Order 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, reporting under clause (xvi)(a) & (xvi)(b) of paragraph 3 of the Order is not applicable.

(b) In our opinion, the Company has not conducted any Non-Banking Financial or Housing Finance activities without any valid Certificate of Registration from the Reserve Bank of India. Hence, the reporting under paragraph clause 3 (xvi)(b) of the Order does not apply to the Company

(c) The Company is not a Core Investment Company (CIC) as defined in the regulations made by the Reserve Bank of India.

(d) The Company does not have any CIC as part of its group. Hence the provisions stated in paragraph clause 3 (xvi) (d) of the order do not apply to the company.

(xvii) The Company has not incurred cash losses in the current financial year and in the immediately preceding financial year and accordingly, reporting under clause (xvii) of paragraph 3 of the Order is not applicable.

(xviii) There has been no resignation of the statutory auditors during the year and accordingly requirement to report clause (xviii) of paragraph 3 of the Order does not apply to the Company.

(xix) According to the information and explanations given by the management and based on the financial ratios, ageing and expected dates of realization of financial assets and payment of financial liabilities, other information accompanying the financial statements, our knowledge of the Board of Directors and management plans and based on our examination of the evidence supporting the assumptions, nothing has come to our attention, which causes us to believe that any material uncertainty exists as on the date of the audit report that company is not capable of meeting its liabilities existing at the date of the balance sheet as and when they fall due within 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 reporting is based on the facts up to the date of the audit report and we neither give any guarantee nor any assurance that all liabilities falling due within one year from the balance sheet date, will get discharged by the company as and when they fall due.

(xx) According to the information and explanations given by the management, the Company has made the required contributions during the year and there are no unspent amounts which are required to be transferred either to a Fund or to a Special Account as per the provisions of section 135 of the act read with schedule VII and accordingly, reporting under clause (xx) of paragraph 3 of the Order is not applicable.

For R. Rampuria & Company

Chartered Accountants

Firm Reg: No.: 325211E

Sd/-

(Rajendra Rampuria)

Partner

Mem No. 108771

Place: Kolkata

Date: 30.05.2025

UDIN: 25108771BMLAPN9855