Mamata Machinery Ltd Auditor Reports

To,

The Board of Directors

Mamata Machinery Pr?vate Limited

Opini?n

We have audited the Special puipose Consolidated fmancial statements of Mamata Machinery Private Limited ("the Company"), and its subsidiary company Mamata Enterprises, Inc (the Company and its subsidiaries together referred to as the "Group"), which comprise the balance sheet as at 31^st March 2023 and the statement of Profit and Loss, and statement of cash flows for the year then ended, and notes to the Consolidated f?nancial statements, including a summary of significant accounting policies and other explanatory information (hereinafter referred to as "special purpose f?nancial statements") which has been prepared by the management in accordance with the basis of preparation specified in Note 2 to the special purpose f?nancial statements.

In our opini?n and to the best of our information and according to the explanations given to us,the aforesaid special purpose Consolidated f?nancial statements are prepared in the manner so required and give a true and fair view in conformity with the accounting principies generally accepted in India, in all material respects, in accordance with the basis of preparation as specified in Note 2 to these special purpose Consolidated f?nancial statements.

Basis for Opini?n

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Act. Our responsibilities under those SAs are further described in the Auditor s Responsibilities for the Audit of the Special Purpose Consolidated Financial Statements section of our report. We are independent of the Company in accordance with the Code ofEthics issued by the Institute of Chartered Accountants of India (ICAI) together with the ethical requirements that are relevant to our audit of the special puipose Consolidated f?nancial 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 Code ofEthics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opini?n.

Responsibilities of the Management for Special Purpose Consolidated Financial Statements

The accompanying special purpose Consolidated f?nancial statements have been approved by the Companys Board of Directors. The Companys Board of Directors are responsible for preparation as specified in Note 2 for the special purpose Consolidated fmancial statements. This responsibility also ineludes 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 intemal f?nancial Controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of these special purpose

In preparing the special pulp?se financial statements, management and Board of Directors are responsible for assessing the Companys ability to continu? 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 liqu?date the Company or to cease operations, or has no realisticalternative but to do so.

The Board of Directors are also responsible for overseeing the Companys financial reporting process.

Auditors Respousibilities for the Audit of the Special Purpose Consolidated Financial Statements

Our objectives are to obtain reasonable assurance about whether the special purpose Consolidated f?nancial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors report that ineludes our opini?n. 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 aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these f?nancial 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 special purpose Consolidated f?nancial 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 opini?n. 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 intemal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances on whether the company has adequate intemal f?nancial Controls with reference to the special purpose Consolidated f?nancial statements in place and the operating effectiveness of such Controls.

• Eval?ate 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 continu? as a going concern. If we conclude that a material uncertainty exists, were required to draw attention in our auditors report to the related disclosures in the special purpose Consolidated f?nancial statements or, if such disclosures are inadequate, to modify our opini?n. 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 continu? as a going concern; and

• Eval?ate the overall presentation, structure and conten? of the special purpose Consolidated f?nancial statements,including the disclosures, and whether the special purpose f?nancial statements represent the underlying transactions and events in a manner that achieves fair presentation.