Longspur International Ventures Ltd Auditor Reports

INDEPENDENT AUDITORS REPORT

TO,

THE MEMBERS OF

LONGSPUR INTERNATIONAL VENTURES LIMITED

Report on the Audit of the Standalone financial statements

We have audited the accompanying standalone financial statements of LONGSPUR INTERNATIONAL VENTURES LIMITED ("the Company"), which comprise the Balance Sheet as at 31 March 2026, the Statement of Profit and Loss and the Cash Flow Statement for the year then ended, and notes to the standalone financial statements, including a summary of the significant accounting policies and other explanatory information.

Auditors Opinion

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone financial statements give the information required 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, including the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014, of the state of affairs of the Company as at 31 March 2026, its profit and its cash flows for the year ended on that date.

Basis for Opinion

We conducted our audit of the standalone financial statements in accordance with 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 Standalone 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 ("ICAI") 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 in accordance with 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 standalone 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 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.

1. Accounting Software and Audit Trail

During the financial year 2025-26 the Company has not maintained an audit trail (edit log) feature in its accounting software throughout the financial year as required by Rule 3(1) of the Companies (Accounts) Rules, 2014, as amended.

This matter was of significance in our audit because the audit trail is intended to enhance transparency and accountability in the recording of financial transactions. Although the Company did not comply with the prescribed audit trail requirements, we were able to perform alternative audit procedures to obtain sufficient and appropriate audit evidence to conclude that the financial statements are free from material misstatement.

Accordingly, this matter was considered to be a key audit matter in our audit of the financial statements for the year ended 31st March 2026.

How our audit addressed the Key Audit Matter

Our audit procedures, amongst others, included:

• obtaining an understanding of the accounting software used by the Company for maintaining its books of account;

• assessing the implications arising from the absence of an audit trail facility;

• performing alternative audit procedures over transactions recorded in the accounting system;

• testing selected transactions and supporting documentation on a sample basis;

• performing substantive procedures and reconciliations considered necessary in the circumstances; and

• Evaluating whether the absence of the audit trail resulted in any material misstatement in the standalone financial statements.

Important:

The above Key Audit Matter section should be retained only if SA 701 is applicable to the Company or the auditor has voluntarily decided to communicate KAMs in accordance with SA 701. For an ordinary unlisted company where SA 701 is not otherwise applicable, I recommend deleting the entire Key Audit Matters section rather than automatically including it.

Information Other than the Standalone financial statements and Auditors Report Thereon

The Companys Board of Directors is responsible for the preparation of the other information. The other information comprises the information included in the Management Discussion and Analysis, Boards Report including Annexures to Boards Report, Business Responsibility Report, Corporate Governance and Shareholders Information, but does not include the standalone financial statements and our auditors report thereon.

Our opinion on the standalone financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the standalone financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the standalone financial statements or our knowledge obtained during the course of our audit or otherwise appears to be materially misstated.

When we read such other information as and when made available to us and if we conclude that there is a material misstatement therein, we are required to communicate the matter to those charged with governance

Managements Responsibility 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 ("the Act") with respect to the preparation of these standalone financial statements that give a true and fair view of the financial position , financial performance and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014.

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 standalone financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the standalone financial statements, management is responsible for assessing the Companys ability to continue as a going concern, disclosing, as applicable, matters related to going concern 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.

Those charged with governance are responsible for overseeing the Companys financial reporting process.

Auditors Responsibilities for the Audit of the Standalone financial statements

Our objectives are to obtain reasonable assurance about whether the standalone 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 standalone financial statements.

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

• Identify and assess the risks of material misstatement of the standalone 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 standalone 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 standalone financial statements, including the disclosures, and whether the standalone financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

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 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 standalone 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

As required by the Companies (Auditors Report) Order,2020("the Order") issued by the Central Government of India in terms of sub section (11) of section 143 of the Companies Act, 2013, we give in the Annexure A statements on the matters specified in paragraphs 3 and 4 of the order, to the extent applicable.

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 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 examination of those books.

(c) The Balance Sheet, the Statement of Profit and Loss, and the cash flow statement dealt with by this Report are in agreement with the books of account.

(d) In our opinion, the aforesaid standalone 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) On the basis of the written representations received from the directors as on 31/03/2026 taken on record by the Board of Directors, none of the directors is disqualified as 31/03/2026 from being appointed as a director in terms of Section 164 (2) of the Act.

(f) With respect to the adequacy of the internal financial controls with reference to standalone financial statements of the Company and the operating effectiveness of such controls, refer to our separate report in "Annexure B".

(g) 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:

i. The Company has disclosed the impact of pending litigations on its financial position in its standalone financial statements.

ii. 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.

iii. There has been no delay in transferring amounts, required to be transferred, to the Investor Education and Protection Fund by the Company.

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 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(s) or entity(ies), 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 whatsoever by or on behalf of the company ("Ultimate Beneficiaries") or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

(b) The management has represented that, to the best of its knowledge and belief, 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.

(c) Based on the audit procedures that we considered reasonable and appropriate in the circumstances, nothing has come to our notice that has caused us to believe that the representations under sub-clauses (a) and (b) above contain any material.

v. Based on our examination, which included test checks, the Company has used accounting software for maintaining its books of account for the financial year ended 31 March 2026. However, the audit trail (edit log) facility was not enabled in the accounting software used by the Company. Accordingly, the requirements relating to the use of accounting software having a feature of recording audit trail, its operation throughout the year for all transactions recorded in the software, and the preservation of the audit trail as per the statutory requirements are applicable to the Company. However, since the audit trail facility was not enabled in the accounting software used by the Company, the Company has not complied with the requirements relating to the recording, operation and preservation of audit trail as required under Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014.

vi. The company has not declared or paid any dividend during the year in contravention of the provisions of section 123 of the Companies Act, 2013.

	FOR A K KOCCHAR & ASSOCIATES
	(Chartered Accountants)
	Reg No. :0120410W
	Abhilash Darda
	Partner
Date: 29/05/2026	M. No.: 423896
Place: Mumbai	UDIN:264238960KLRXY5141

"Annexure B" to the Independent Auditors Report of even date on the Standalone financial statements of LONGSPUR INTERNATIONAL VENTURES LIMITED.

Report on the Internal Financial Controls with Reference to Standalone financial statements under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013.

We have audited the internal financial controls with reference to standalone financial statements of LONGSPUR INTERNATIONAL VENTURES LIMITED ("the Company") as of 31 March 2026

in conjunction with our audit of the standalone 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, safeguarding of its assets, prevention and detection of frauds and errors, accuracy and completeness of the accounting records, and 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 with reference to standalone financial statements based on our audit.

We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India and the Standards on Auditing prescribed under Section 143(10) of the Companies Act, 2013, to the extent applicable to an audit of internal financial controls with reference to standalone financial statements.

Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls with reference to standalone financial statements were established and maintained and whether 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 with reference to standalone financial statements includes obtaining an understanding of such internal financial controls, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal controls based on the assessed risk.

The procedures selected depend on the auditors judgment, including the assessment of the risks of material misstatement of the standalone financial statements, whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Companys internal financial controls with reference to standalone financial statements.

Meaning of Internal Financial Controls with Reference to Standalone financial statements

A Companys internal financial control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of standalone 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 standalone financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the Company are being made only in accordance with authorisations of management and directors of the Company; and

(3) Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the companys assets that could have a material effect on the standalone financial statements.

Inherent Limitations of Internal Financial Controls 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 controls system over financial reporting and such internal financial controls over financial reporting were operating effectively as at 31 March 2026, 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.

	FOR A K KOCCHAR & ASSOCIATES
	(Chartered Accountants)
	Reg No. :0120410W
	Abhilash Darda
	Partner
Date: 29/05/2026	M. No.: 423896
Place: Mumbai	UDIN:264238960KLRXY5141

ANNEXURE- A

Reports under The Companies (Auditors Report) Order, 2020 (CARO 2020) for the year ended on 31st March 2026

To,

The Members of

LONGSPUR INTERNATIONAL VENTURES LIMITED

i. Property, Plant and Equipment and Intangible Assets

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

(B) The Company has maintained proper records showing full particulars of Intangible assets.

(b) The Property, Plant and Equipment have been physically verified by the Management at reasonable intervals in accordance with a regular programme of verification, which, in our opinion, is reasonable having regard to the size of the Company and the nature of its assets. According to the information and explanations given to us, no material discrepancies were noticed on such verification.

(c) The Company does not own any immovable properties. Accordingly, reporting under Clause 3(i)(c) of the Order is not applicable to the Company.

(d) According to the information and explanations given to us and based on our examination of the records of the Company, the Company has not revalued its Property, Plant and Equipment or Intangible Assets during the year. Accordingly, reporting under Clause 3(i)(d) of the Order is not applicable to the Company.

(e) According to the information and explanations given to us and based on our examination of the records of the Company, there are no proceedings initiated or pending against the Company as at 31 March 2026 for holding any benami property under the Prohibition of Benami Property Transactions Act, 1988 and the rules made thereunder. Accordingly, reporting under Clause 3(i)(e) of the Order is not applicable to the Company.

ii. Inventory and Working Capital

(a) The Company does not hold any inventory during the year. Accordingly, reporting under Clause 3(ii)(a) of the Order is not applicable to the Company.

(b) According to the information and explanations given to us and based on our examination of the records of the Company, the Company has not been sanctioned any working capital limits in excess of Rs.5 Crore, in aggregate, at any point of time during the year from banks or financial institutions on the basis of security of current assets. Accordingly, reporting under Clause 3(ii)(b) of the Order is not applicable to the Company.

iii. Investment, Loans or Advances by Company

(a) The company has not made investments in companies during the year.

(b) The Company has granted loans and advances in the nature of loans, secured or unsecured, to companies, firms, Limited Liability Partnerships or other parties during the year of Rs. and the details thereof are as follows:

Sr. No Name of the Borrower	The aggregate amount during the year	Balance outstanding at the balance sheet date
1 Parties other than subsidiaries, joint ventures and associates	18,90,50000/-	30,37,27,128/-
2 Subsidiaries, joint ventures and associates	0.00/-	0.00/-

(c) In our opinion and according to the information and explanations given to us. The rate of interest and other terms and conditions for such loans are prima facie not prejudicial to the companys interest.

(d) In respect of loans and advances in the nature of loans granted by the Company, the repayment of principal and receipt of interest have not taken place for a considerable period in respect of certain long outstanding balances. The Company has obtained balance confirmations from the respective borrowers in respect of such outstanding balances.

(e) According to the information and explanations given to us and on the basis of our examination of the records of the Company, there is no loan given falling due during the year, which has been renewed or extended or fresh loans given to settle the overdues of existing loans given to the same party.

(f) According to the information and explanations given to us and on the basis of our examination of the records of the Company, during the year, the Company has not granted any loans or advances in the nature of loans which are repayable on demand or without specifying any terms or period of repayment. Accordingly, the aggregate amount of such loans or advances in the nature of loans granted during Rs. 18,90,50000/- the year and the percentage thereof to the total loans granted during the year are 100%.

However, the Company had granted certain loans or advances in the nature of loans in earlier years without specifying any terms or period of repayment, which continue to remain outstanding as at 31 March 2026. The aggregate amount outstanding in respect of such loans or advances in the nature of loans as at 31 March 2026 is Rs. 34,58,27,129/-, representing 100% of the aggregate loans granted by the Company.

The aggregate amount of loans or advances in the nature of loans granted to Promoters, related parties as defined in clause (76) of Section 2 of the Companies Act, 2013, and other parties, in respect of the aforesaid loans granted in earlier years, is as follows:

Particulars	Amount outstanding as at 31 March 2026 (Rs.)
Promoters	Rs. 0.00
Related Parties	Rs. 0.00/-
Other Parties	Rs. 34,58,27,129/-

iv. Loan to Directors and Investment by the Company

According to the information and explanations given to us and based on our examination of the records of the Company, the Company has complied with the provisions of Sections 185 and 186 of the Companies Act, 2013, in respect of loans granted, investments made and guarantees and securities provided, as applicable.

v. Deposits Accepted by the Company

According to the information and explanations given to us and based on our examination of the records of the Company, the Company has not accepted any deposits or amounts which

are deemed to be deposits during the year within the meaning of Sections 73 to 76 or any other relevant provisions of the Companies Act, 2013 and the rules made thereunder. Accordingly, reporting under Clause 3(v) of the Companies (Auditors Report) Order, 2020 is not applicable to the Company.

vi. Maintenance of Cost records

According to the information and explanations given to us and based on our examination of the records of the Company, 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. Accordingly, the requirements of Clause 3(vi) of the Companies (Auditors Report) Order, 2020 are not applicable to the Company.

vii. Statutory Dues

(a)According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company is generally regular in depositing with the appropriate authorities undisputed statutory dues, including Goods and Services Tax, Provident Fund, Employees State Insurance, Income Tax, Sales Tax, Service Tax, Duty of Customs, Duty of Excise, Value Added Tax, Cess and other statutory dues applicable to it, except for the following TDS-related statutory dues which remained outstanding as at 31 March 2026:

Sr. No Nature of Statutory Dues	Financial Year	Amount Outstanding (Rs.)
1 Interest on TDS payment defaults under Section 201	2025-26	4,932.00
	2024-25	2,995.50
	2023-24	44,658.00
	2022-23	22,487.00
	Previous Years	46,351.00
2 TDS late filing fee under Section 234E	2024-25	2,800.00
	2023-24	2,400.00
	Previous Years	19,600.00
3 Interest under Section 220(2) of the Income Tax Act, 1961	2023-24	358.00
Total		1,46,581.50

The aforesaid amounts comprise interest on TDS payment defaults under Section 201 amounting to Rs. 1,21,423.50/-, TDS late filing fee under Section 234E amounting to Rs. 24,800/- and interest under Section 220(2) of the Income-tax Act, 1961 amounting to Rs. 358/-.

(b)According to the information and explanations given to us and based on the records examined by us, there are statutory dues relating to Goods and Services Tax (GST) which have not been deposited on account of disputes. The disputed GST dues primarily relate to penalties imposed under Section 122(l)(vii) and Section 122(l)(ii) of the Central Goods and Services Tax Act, 2017, pursuant to proceedings initiated by the GST authorities, including proceedings arising from search and seizure operations conducted at the premises of the concerned party with whom the Company had business transactions. The details of the disputed dues are as follows:

Nature of Statutory Dues	Financial Year / Period	Amount of Disputed Dues (Rs.)	Forum where Dispute is Pending
GST - Penalty under Section 122(l)(vii) of the CGST Act, 2017	July-2017 to March- 2019	1,41,44,178/-	GST Appellate Authority
GST - Penalty under Section 122(l)(ii) of the CGST Act, 2017	July-2017 to March- 2019	1,41,93,935/-	GST Appellate Authority
Total		2,83,38,113/-

The Company has disputed the aforesaid demands and has preferred appeals before the GST Appellate Authority. The matters are pending adjudication as at 31 March 2026.

viii. Disclosure of Undisclosed Transactions

According to the information and explanations given to us and based on our examination of the records of the Company, there were no transactions relating to previously unrecorded income that were surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961.

ix. Loans or Other Borrowings

(a) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company has not defaulted in repayment of loans or other borrowings or in payment of interest thereon to any lender during the yea.

(b) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company has not been declared a wilful defaulter by any bank or financial institution or other lender or government or government authority.

(c) According to the information and explanations given to us and on an overall examination of the financial statements of the Company, the Company has utilised the term loans obtained for the purposes for which they were obtained.

(d) According to the information and explanations given to us and on an overall examination of the financial statements of the Company, the Company has not raised any funds on shortterm basis during the year. Accordingly, reporting under Clause 3(ix)(d) of the Order is not applicable.

(e) On an overall examination of the financial statements of the Company, 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.

(f) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company has not raised any loans during the year on the pledge of securities held in its subsidiaries, joint ventures or associate companies. Accordingly, reporting under Clause 3(ix)(f) of the Order is not applicable.

(g) During the year, the Company has obtained unsecured loans, without payment of interest, from its Managing Director and other persons. According to the information and explanations given to us and on the basis of our examination of the records of the Company, such loans are unsecured and interest-free. The details of such borrowings are as follows:

x. Money Raised by IPO/FPO and Utilisation of Funds

(a) During the year, the Company has not raised any money by way of initial public offer or further public offer (including debt instruments). Accordingly, reporting under Clause 3(x)(a) of the Order is not applicable.

(b) During the year, the Company had approved a proposal for raising funds by way of issue of equity shares on a preferential basis, subject to the approval of the shareholders and other requisite regulatory/statutory approvals. As at 31 March 2026, no amount was raised pursuant to the said preferential issue. Accordingly, reporting under Clause 3(x)(b) of the Order with regard to utilisation of monies raised through preferential allotment/private placement is not applicable for the year

xi. Fraud and reporting under Section 143(12)

(a) Based on the information and explanations given to us and the audit procedures performed by us, we have not noticed any fraud by the Company or any fraud on the Company during the year. Further, no fraud has been reported to us by the management during the course of our audit.

(b) 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 the Companies (Audit and Auditors) Rules, 2014 with the Central Government during the year and up to the date of this report.

(c) As represented to us by the management, there were no whistle-blower complaints received by the Company during the year. Accordingly, the provisions of Clause 3(xi)(c) of the Order are not applicable.

xii. Compliance by Nidhi Company Regarding Net Owned Fund to Deposits Ratio

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

xiii. Related party transactions

According to the information and explanations given to us and based on our examination of the records of the Company, all transactions with the related parties are in compliance with the provisions of Sections 177 and 188 of the Companies Act, 2013, where applicable, and the details of such transactions have been disclosed in the standalone financial statements as required by the applicable Indian Accounting Standards.

xiv. Internal audit system

(a) In our opinion, the Company has an adequate internal audit system commensurate with the size and nature of its business.

(b) We have considered the reports issued by the internal auditors during the year in determining the nature, timing and extent of our audit procedures.

xv. Non cash transactions

According to the information and explanations given to us and based on our examination of the records of the Company, the Company has not entered into any non-cash transactions with its directors or persons connected with its directors during the year. Accordingly, the provisions of Section 192 of the Companies Act, 2013 are not applicable to the Company.

xvi. Requirement of Registration under 45-IA of Reserve Bank of India Act, 1934

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

xvii. Cash Losses

The Company has not incurred cash losses in the current and in the immediately preceding financial year.

xviii. Resignation of Statutory Auditors

No resignation of statutory auditors taken during the period and preceding previous year. Hence, reporting under clause (xviii) of the Order is not applicable.

xix. Material uncertainty in relation to realisation of financial assets and payment of financial liabilities

According to the information and explanations given to us and on the basis of the financial ratios, ageing and expected dates of realisation 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 the Company is not capable of meeting its liabilities existing 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 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 a period of one year from the balance sheet date, will get discharged by the Company as and when they fall due.

xx. Compliance of CSR

According to the information and explanations given to us and based on our examination of the records of the Company, there is no unspent amount under sub-section (5) of Section 135 of the Companies Act, 2013 as at 31 March 2026. Accordingly, the provisions of Clause 3(xx)(a) and Clause 3(xx)(b) of the Companies (Auditors Report) Order, 2020 are not applicable to the Company.

xxi. Consolidated Financial Statements

The provisions of Clause 3(xxi) of the Companies (Auditors Report) Order, 2020 are not applicable to the Company as the Company is not required to prepare consolidated financial statements. Accordingly, reporting under Clause 3(xxi) of the Order is not applicable to the Company.

	FOR A K KOCCHAR & ASSOCIATES
	(Chartered Accountants)
Place: Mumbai	Reg No. :0120410W
Date: 29/05/2026
	Abhilash Darda
	(Partner)
	Membership No.: 423896
	UDIN: 264238960KLRXY5141