TO THE MEMBERS OF RIDDHI CORPORATE SERVICES LIMITED

Report on the Audit of the Standalone Financial Statements

Opinion

We have audited the accompanying Financial Statements of Riddhi Corporate Services Limited (the Company), which comprise the Balance Sheet as at March 31, 2026, and the Statement of Profit and Loss (including other comprehensive income), the Statement of Cash Flows and the Statement of changes in equity for the year then ended and 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 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, 2025, and its profit, total comprehensive income, its cash flows and the changes in equity for the year ended on that date.

Basis for Opinion

We conducted our audit of the Financial Statements in accordance with the Standards on Auditing specified under Section 143(10) of the Act (SAs). Our responsibilities under those Standards are further described in the Auditors Responsibility 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 (ICAI) together with the ethical requirements that are relevant to our audit of the Financial Statements under the provisions of the Act and the Rules made 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 obtained by us is sufficient and appropriate to provide a basis for our audit opinion on the Financial Statements.

Key Audit Matters

Key Audit MattersKey audit matter is the matter that, in our professional judgement, was of most significance in our audit of the Standalone Financial Statements of the current period. This matter was 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 this matter.

We have determined the matter described as follows to be the key audit matter to be communicated in our report:

The Key Audit Matter Accounting for Long-term Leases under Ind AS 116

The Company has entered into various longterm lease arrangements which are accounted for in accordance with Ind AS 116 - Leases. Due to the Companys scale and market influence, it is often able to negotiate lease terms that differ significantly from standard market practices, including reduced or waived annual rent escalations. These favourable terms are subject to renegotiation, resulting in frequent modifications to the lease agreements.

We considered this a key audit matter due to the complexity involved in accounting for lease modifications, the significant judgement required in evaluating lease terms, and the frequent updates needed to accurately measure lease liabilities and right- of- use assets in accordance with Ind AS 116. These factors increase the risk of misstatement in the financial statements.

Our audit procedures included:

Our audit procedures included:- Understanding the process followed by management to identify and incorporate lease modifications;- Inspecting lease agreements and related amendments to assess the appropriateness of key terms;- Testing a sample of lease calculations for accuracy and compliance with Ind AS 116;- Reviewing the adequacy of related financial statement disclosures

Information Other than the 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.

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.

Managements Responsibility

The Board of Directors of the Company is responsible for the matters stated in Section 134(5) of 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, cash flows and changes in equity of the Company in accordance with the Ind AS and other accounting principles generally accepted in India. This responsibility also includes maintenance of adequate accounting records in accordance with 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 judgements 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 Management is responsible for assessing the ability of the Company to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

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

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 can 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 judgement 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 financial control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3)(i) of the Act, 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 the Management.- Conclude on the appropriateness of use of the going concern basis of accounting by the Management and based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Company 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.

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 charge with governance, we determine those matter 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.

Other Matter

The standalone financial statements of the Company for the year ended March 31, 2025 were audited by the predecessor auditor who had expressed an unmodified opinion on May 30, 2025. We draw attention to Notes to Accounts of the financial statements, which states that the comparative financial information for the year ended March 31, 2025, has been presented as per the figures reported in the audited financial statements for that year, as signed and reported by the predecessor auditor, without carrying out regrouping, reclassification, or adjustments to align with the current years presentation. Accordingly, the comparative figures may not be strictly comparable with those of the current year. Our opinion is not modified in respect of this matter.

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 Section 143(11) of the Act, we give in the Annexure B, a statement on the matters specified in paragraph 3 and 4 of the Order

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

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; 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; The Balance Sheet, the statement of Profit & Loss including Other comprehensive Income, Statement of Changes in Equity and the Statement of Cash Flow dealt with by this Report are in agreement with the books of account; In our opinion, the aforesaid standalone financial statements comply with Ind AS specified under section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014; As per the management representation, we report, No funds have been advanced or loaned or invested by the Company to or in any other person(s) or entities, including foreign entities (Intermediaries), with the understanding 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 ultimate beneficiaries. No funds have been received by the Company from any person(s) or entities including foreign entities (Funding Parties) with the understanding that such 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 guarantee, security or the like on behalf of the Ultimate beneficiaries.

Based on the audit procedures performed, we report that nothing has come to our notice that has caused us to believe that the representations given under subclause (i) and (ii) by the management contain any material mis- statement.

In our opinion, the Company has complied with Section 123 of the Companies Act, 2013 with respect to dividend declared/paid during the year.

On the basis of the written representation received from the directors as on March 31, 2026 taken on record by the Board of Directors, none of directors is disqualified as on March 31, 2026 from being appointed as a director in terms of Section 164(2) of Act.

With respect to the adequacy of the internal financial controls over financial reporting of the Company and the opening effectiveness of such controls, refer to our separate report in Annexure A. Our report expresses an unmodified opinion on the adequacy and operating effectiveness of the Companys internal financial controls over financial reporting.

With respect to other matters to be included in the Auditors Report in accordance with the requirements of section 197(16) of the Act, as amended, in our opinion and to the best of our information and according to the explanations given to us, the remuneration paid by the Company to its directors during the year is in accordance with the provisions of Section 197 of the Act.

With respect to the other matter to be included in the Auditors Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014 (as amended), in our opinion and to the best of our information and according to the explanations given to us;

The company has disclosed the impact of pending litigations on its financial position in its standalone financial statements. The Company did not have any Long Term Contracts including derivative contracts for which there were any material foreseeable losses. There were no amounts which were required to be transferred to the Investor Education and Protection Fund by the Company. Based on our examination on test basis of accounting software used by the company for maintaining its books of account for the financial year ended 31st March 2026 we are of the opinion that accounting software has feature of recording audit trail (edit log) facility and same was operated throughout the year in respect of all relevant transactions recorded in software. Further, during our audit we did not come across any instance of audit trail feature being tampered with and the audit trail has been preserved by the Company as per the statutory requirements for the record retention.

PLACE: AHMEDABAD DATE: 30/05/2026

FOR, APARAJITA V SHAH & CO. CHARTERED ACCOUNTANTS FIRM REG. NO.: 162222W

Sd/- CA APARAJITA V. SHAH PROPRIETOR M. NO. 411005 UDIN: 26411005LYJBUAA6632

Annexure A to Independent Auditors Report

Referred to in para 14(f) under Report on other legal and regulatory requirements section of our report of even date

Report on the internal financial controls over financial reporting under Clause (i) of Sub- section 3 of Section 143 of the Companies Act, 2013 (the Act)

We have audited the internal financial controls over financial reporting of Riddhi Corporate Services Limited (the Company) as of March 31, 2025, 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 Control

The Management of the Company 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 (the Guidance Note) 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 policies of the Company, 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 internal financial controls of the Company over financial reporting based on our audit. We conducted our audit in accordance with the Guidance Note issued by the ICAI 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. 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 judgement, 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 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 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 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 financial statements.

Inherent Limitations of Internal Financial Control 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

Opinion In our opinion, to the best of our information and according to the explanations given to us, 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 March 31, 2025, based on the internal financial control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note issued by the ICAI.

PLACE: AHMEDABAD DATE: 30/05/2026

FOR, APARAJITA V SHAH & CO. CHARTERED ACCOUNTANTS FIRM REG. NO.: 162222W

Sd/- CA APARAJITA V. SHAH PROPRIETOR M. NO. 411005 UDIN: 26411005LYJBUAA6632

Annexure B to Independent Auditors Report

Referred to in paragraph 16 of the Independent Auditors Report of even date to the members of RIDDHI CORPORATE SERVICES LIMITED on the standalone Ind AS financial statements for the year ended March 31, 2026

i. In respect of its Property, Plant and Equipment:

a. The Company has maintained proper records showing full particulars, including quantitative details and situation of Property, Plant and Equipment, capital work-inprogress and relevant details of right of use assets except in the case of certain Plant and Machinery where the Company is in the process of updating the records. b. The Company is maintaining proper records showing full particulars of intangible assets. c. The majority of Property, Plant and Equipment have been physically verified by the management during the year and there is a regular program 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 explanation given to us, no material discrepancies were noticed on such verification. d. According to the information and explanation given by the management, the title deeds of immovable properties (other than properties where the Company is the lessee and the lease agreements are duly executed in favour of the lessee) are held in the name of the company. e. The Company has not revalued any of its Property, Plant and Equipment or intangible assets or both during the year. f. No proceedings have been initiated or are pending against the Company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder.

ii. In respect of its Inventory:

a. According to the information and explanations given to us, the company is service company accordingly does not hold any inventories. Thus paragraph 3(ii)(a) of the order is not applicable. b. During the year, the Company has been sanctioned working capital limits of more than five crore rupees from private bank on the basis of security of fixed asset of director. As informed to us, the Company is not required to file any quarterly returns or statements with such banks or financial institutions.

iii. In respect of Investments, Loans, Advances and Guarantees given:

a. According to the information and explanations given to us, the company has provided loans or provided advances in the nature of loans to parties as below:

Parties	Loans (amt. in lacs)	Advances in nature of loans (amt. in lacs)
Aggregate amount granted/provided during the year	0.00	89.75
-Subsidiaries	0	0
-Joint Ventures	0	0
-Associates	0	0
-Others	0	89.75
Balance outstanding as at balance sheet date in respect of above cases
-Subsidiaries	0	0
-Joint Ventures	0	0
-Associates	0	0
-Others	0	86.45

b. According to the information and explanations given to us and based on the audit procedures performed by us, we are of the opinion that the loans and advances in nature of loans given and the terms and conditions of grant of all loans and advances in the nature of loans are not prejudicial to the companys interest.

c. According to the information and explanations given to us and based on the audit procedures performed by us, there is no stipulation of schedule of repayment of principal and payment of interest on loans granted by the Company as they are payable on demand. We are, therefore, unable to make specific comment on the regularity of repayment of principal and payment of interest.

d. According to the information and explanations given to us and based on the audit procedures performed by us, there is no amount overdue of loans and advances in the nature of loans granted by the Company as they are payable on demand.

e. According to the information and explanations given to us and based on the audit procedures performed by us, no loans or advances in the nature of loans granted which has fallen due during the year, have been renewed or extended or fresh loans granted to settle the overdues of existing loans given to the same parties as they are repayable on demand.

f. In our opinion and according to the information and explanations given to us and based on the audit procedures conducted by us, the company has granted following loans and advances in the nature of loans either repayable on demand or without specifying or period of repayment:

Parties	Promoters & Related Parties	Others
Aggregate amount of loans/advances in nature of loans	0	89.75

-Repayable on demand (A)	0	89.75
-Agreement does not specify any terms or period of repayment (B)	0	0
Total (A+B)	0	89.75
Percentage of loans/advances in nature of loans to the total loans	0	100%

iv. In our opinion and according to the information and explanations given to us and based on the audit procedures conducted by us, the Company has complied with the provisions of Section 185 and 186 of the Act, with respect to loans and advances granted, guarantees and securities provided and investments made by the Company during the year.

v. The Company has not accepted any deposits or amounts which are deemed to be deposited from the public within the meaning of the directives issued by the Reserve Bank of India, provisions of Sections 73 to 76 of the Act, any other relevant provisions of the Act and the relevant rules framed thereunder.

vi. As per information & explanation given to us, the Central Govt. has not prescribed maintenance of cost records under sub- section (1) of Sec.148 of the Companies Act, 2013 for any of the products of the Company.

vii. According to the information and explanations given to us, in respect of statutory dues:

a. Undisputed statutory dues including Goods and Services tax, provident fund, employees state insurance, income-tax, sales-tax, service tax, duty of custom, duty of excise, value added tax, cess have been regularly deposited by the Company with the appropriate authorities during the year. According to the information and explanations given to us and based on audit procedures performed by us, undisputed dues in respect of provident fund, employee state insurance, income tax, goods and service tax, cess and other statutory dues which were outstanding at the year end, for a period of more than six months from the date they became payable, are as follows:

Name of the statute	Nature of the dues	Amount (Rs. in lakhs)	Period to which the amount relates	Due date	Date of payment
Professions Tax Act of various states	Employee Professional Tax	81.28	FY 24-25; 25-26	Various dates	Not paid

Income-tax Act, 1961 Tax Deducted at Source 1.91 FY 2010-11; 2011-12; 23-24; 24-25 Various dates Not paid

b. According to the information and explanations given to us and the records of the Company, there are no dues which have not been deposited in respect of statutory dues referred to in sub-clause (a) above on account of any dispute except as mentioned below

Name of Statute	Nature of Dues	Amount Rs. in lakhs	Period to which the amount relates	Forum where dispute is pending
Central Goods and Services Tax, 2017	Central Goods and Services Tax (including interest, penalty and fees)	4.53*	FY 2021-22	Deputy Commissioner (Appeals), CGST, Chennai

*Net of pre- deposit Rs.0.26

ii. According to the information and explanations given by the management, and based on the procedures carried out during the course of our audit, we have not come across any transactions not recorded in the books of account which have been surrendered or disclosed as income during the year in the tax assessments under the Income- tax Act, 1961.

iii. According to the information and explanations given to us, in respect of loans and borrowings:

a. In our opinion and according to the information and explanations given to us, the Company has not defaulted in the repayment of loans or other borrowings or in the payment of interest thereon to any lender. b. According to the information and explanations given to us and on the basis of our audit procedures, we report that the company has not been declared willful defaulter by any bank or financial institution or government or any government authority. c. The Company has not availed any term loan facility during the year ended March 31, 2026. Thus paragraph 3(ix)(c) of the order is not applicable. d. According to the information and explanations given to us, 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 short-term basis have been used for long-term purposes by the Company. e. 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 during the year ended March 31, 2026. Thus paragraph 3(ix)(e) of the order is not applicable.

1. The Company has not raised any loans on the pledge of securities held in its subsidiaries, joint ventures or associate companies during the year ended March 31, 2026. Thus paragraph 3(ix)(f) of the order is not applicable.

iv. According to the information and explanations given to us, in respect of capital raising:

a. The Company has not raised moneys by way of initial public offer or further public offer (including debt instruments) during the year. Accordingly, the provisions of Clause 3(x)(a) of the Order are not applicable to the Company. b. During the year, the Company has not made any preferential allotment or private placement of shares or convertible debentures (fully or partly or optionally) and hence reporting under clause 3(x)(b) of the Order is not applicable.

v. According to the information and explanations given to us, in respect of fraud:

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 neither come across any instance of material fraud by the Company or on the Company by its officers or employees, noticed or reported during the year, nor have we been informed of any such case by the Management. b. No report as envisaged pursuant to provisions of Sec.143(12) in Form ADT-4 has been filed by the statutory auditor. c. As represented to us by the management, there are no whistle blower complaints received by the Company during the year.

vi. As the Company is not Nidhi Company, the reporting under Clause 3(xii) of the Order is not applicable.

vii. According to the information and explanations given to us, all transactions with the related parties are in compliance with sections 177 and 188 of Companies Act, 2013 where applicable and the details have been disclosed in the Financial Statements etc. as required by the applicable accounting standards.

viii. According to the information and explanations given to us, in respect of internal audit:

a. The Company does have an internal audit system commensurate with the size and nature of its business. b. Reports of the Internal Auditors for the period under audit were considered by us.

ix. According to the information and explanations given to us, the Company has not entered into any non-cash transactions with directors or persons connected with him and the provisions of section 192 of the Companies Act, 2013 have been complied with;

x. (a) According to the information and explanations given to us and based on examination of the records of the Company, the Company is not required to be registered under section 45-IA of the Reserve Bank of India Act, 1934. Therefore, Clause (xvi)(a) of paragraph 3 of the is not applicable to the company.

1. According to the information and explanations given to us and based on examination of the records of the Company, the Company is not engaged in any non- banking financial or housing financial activities. Therefore, Clause (xvi)(b) of paragraph 3 of the order is not applicable to the company.

2. (c) According to the information and explanations given to us and based on examination of the records of the Company, the Company is not a Core Investment Company (CIC). Therefore, Clause (xvi)(c) of paragraph 3 of the order is not applicable to the company.

3. (d) There is no Core Investment Company as part of the group. Therefore, Clause (xvi)(d) of paragraph 3 of the order is not applicable to the company. xi. The Company has not incurred any cash loss during the financial year covered by our audit and the immediately preceding financial year.

4. xii. There has been resignation of the statutory auditors during the year and no issues, objections or concerns raised by the outgoing auditors.

5. xiii. According to the information and explanations given to us and on the basis of 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 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. xiv. As at present there is no amount remaining unspent under sub- section (5) of section 135 of the Companies Act, 2013 pursuant to any ongoing project, so question of transferring to special account in compliance with the provision of sub- section (6) of Section 135 of the said Act, does not arise. xv. This clause of the CARO, 2020 is not applicable to the Company as the company is not required to prepare consolidated financial statements.

PLACE: AHMEDABAD DATE: 30/05/2025

FOR, APARAJITA V SHAH & CO. CHARTERED ACCOUNTANTS FIRM REG. NO.: 162222W

Sd/- CA APARAJITA V. SHAH PROPRIETOR