Shree Rajivlochan Oil Extraction Ltd Auditor Reports

TO THE MEMBERS OF

SHREE RAJIV LOCHAN OIL EXTRACTION LIMITED, RAIPUR (C.G.).

Report on the Audit of the Standalone Financial Statements

Opinion

We have audited the standalone financial statements of SHREE RAJIV LOCHAN OIL EXTRACTION LIMITED, RAIPUR (C.G.). 492 001, which comprise the Balance Sheet as at 31st March 2026, and the statement of Profit and Loss, for the year ended on that date, 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 standalone financial statements give the information required by the Companies Act, 2013 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, 2026, and its profit/loss and its cash flows for the year ended on that date.

Basis for Disclaimer of Opinion

As disclosed in Note XVI to the accompanying financial statements, We draw attention that the Company has disposed of its principal manufacturing plant, which constituted its primary operating asset. Subsequent to such disposal, the Company has not carried out significant operating activities and has primarily earned income from investments.

In accordance with Ind AS 1, "Presentation of Financial Statements", management is required to make an assessment of the Companys ability to continue as a going concern. However, management has not provided us with a formal assessment of the Companys ability to continue as a going concern, including supporting documentation relating to future business plans, projected cash flows and other relevant assumptions for a period of at least twelve months from the balance sheet date.

Accordingly, we were unable to obtain sufficient appropriate audit evidence regarding the appropriateness of managements use of the going concern basis of accounting in the preparation of the financial statements. Consequently, we were unable to determine whether any adjustments might have been necessary in respect of the carrying amounts and classification of assets and liabilities, and the reported income and expenses disclosed in the financial statements.

Because of the significance and pervasiveness of the matter described above, we have not been able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion on these financial statements.

Disclaimer of Opinion

Because of the significance of the matter described in the basis of opinion section of our report , we have not been able to obtain sufficient appropriate audit evidence to provide a basis for an adult opinion on the accompanying financial statements. Accordingly, we do not express an opinion on these financial

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

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

In preparing the financial statements, the Board of Directors is responsible for assessing the Company s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

Those Board of Directors are also responsible for overseeing the company s 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 auditor s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under section 143(3)(i) of the Companies Act, 2013, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls system in place and the operating effectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

Conclude on the appropriateness of management s 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 Company s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor s 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 auditor s 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.

? Based on our examination, which included test checks, the Company has used accounting software s for maintaining its books of account for the financial year ended March 31, 2026 but which has no any feature of recording audit trail (Edit log) facility.

Report on Other Legal And Regulatory Requirement

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 Act, we give in the Annexure a statement on the matters specified in paragraphs 3 of the said order.

As required by section 143(3) of the Act, We hereby report that:

1. We have obtained all the information and explanations, which to the best of our knowledge and belief were necessary for the purpose of our audit.

2. In our opinion, proper books of account as required by law have been kept by the Company so far as appears from our examination of those books.

3. The Company is not having any branches during the year under audit.

4. The Balance Sheet and Statement of Profit & Loss including Other Comprehensive Income, and Statement of Cash Flow Statement dealt with by this report are in agreement with the books of accounts.

5. In our opinion, the Balance Sheet and Statement of Profit & Loss, Statement of Change in Equity and Statement of Cash Flow Statement comply with the Indian Accounting Standards notified under this Act.

6. On the basis of examination of books of accounts, we are of opinion that, there were no financial transactions or matters which have adverse effect on the Company.

7. On the basis of written representation received from the directors as on 31^st March 2026, and taken on records by the Board of director, none of the director is disqualified as on 31^st March 2026 from being appointed as a director in terms of Section 164 (2) of the of the Companies Act, 2013.

8. In our opinion, there is NIL qualifications, reservations or adverse remarks in respect of maintenance of books of accounts or other matter connected herewith.

9. In our opinion, Companies has adequate internal financial control system commensurate with size of the company & nature of business.

10. According to the information explanation given to us, there is no pending litigation against the Company which requires separate disclosure in the financial statements.

11. According to the information explanation given to us, we are of opinion that the Company has no material foreseeable losses for which provision is required to be made under law or accounting standards.

12. According to the information explanation given to us, we are of opinion that the Company is not required to transfer any amount to Investor Education and Protection Fund.

	AS PER OUR REPORT ON EVEN DATE, FOR, MILIND NYATI & CO LLP,	CHARTERED ACCOUNTANTS,
	Name of the Signatory	: C. A. AAKASH KESHARWANI
		Partner
	Membership No.	: 446240
Place : Raipur	Firm Registration No.	: 014455C/C400403
Date : 29/05/2026	UDIN	: 26446240QWNDDU4593
	Full Address	: STATION ROAD, BANIYAPARA
		TILDA-NEORA,RAIPUR (C.G.)

Auditors Report on the Internal Financial Controls 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 SHREE RAJIV LOCHAN OIL EXTRACTION LIMITED, RAIPUR (C.G.). 492 001. ("The Company") as of 31^st March, 2026 in conjunction with our audit of the financial statements of the Company for the year ended on that date.

Managements Responsibility for Internal Financial Controls

The Company s 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 company s policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information, as required under the Companies Act, 2013.

Auditors Responsibility

Our responsibility is to express an opinion on the Companys internal financial controls over financial reporting based on our audit. We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls over Financial Reporting (the "Guidance Note") and the Standards on Auditing, issued by ICAI and deemed to be prescribed under section 143(10) of the Companies Act, 2013, to the extent applicable to an audit of internal financial controls, both applicable to an audit of Internal Financial Controls and, both issued by the Institute of Chartered Accountants of India. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls over financial reporting was established and maintained and if such controls operated effectively in all material respects. Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system over financial reporting and their operating effectiveness. Our audit of internal financial controls over financial reporting included obtaining an understanding of internal financial controls over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the auditor s judgment, 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 Company s 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 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.

Basis for Adverse Opinion

The Company did not maintain adequate internal financial controls over financial reporting with respect to the controls over the preparation and presentation of financial statements, including appropriate financial statement disclosures. During the course of our audit, we identified a material weakness in the design and operating effectiveness of such controls.

A material weakness is a deficiency, or a combination of deficiencies, in internal financial controls over financial reporting such that there is a reasonable possibility that a material misstatement of the Companys annual or interim financial statements will not be prevented, or detected and corrected, on a timely basis.

We have considered this material weakness in determining the nature, timing and extent of audit procedures applied in our audit of the financial statements of the Company for the year ended 31 March 2026, and this material weakness does not affect our opinion on the financial statements of the Company expressed in our Independent Auditors Report.

Adverse Opinion

In our opinion, because of the effect of the material weakness described in the Basis for Adverse Opinion paragraph above, the Company has not maintained, in all material respects, adequate internal financial controls over financial reporting and such internal financial controls over financial reporting were not 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.

	AS PER OUR REPORT ON EVEN DATE,
	FOR, MILIND NYATI & CO, LLP
		CHARTERED ACCOUNTANTS,
	Name of the Signatory	: C. A. AAKASH KESHARWANI
		Partner
	Membership No.	: 446240
Place : Raipur	Firm Registration No.	: 014455C/C400403
Date : 29/05/2026	UDIN	: 26446240QWNDDU4593
	Full Address	: STATION ROAD, BANIYAPARA
		TILDA-NEORA,RAIPUR (C.G.)
		493 114

ANNEXURE ‘A TO THE INDEPENDENT AUDITORS REPORT

(Referred to in paragraph 2 under ‘Report on Other Legal and Regulatory Requirements section of our Independent Auditors Report of even date to the Members of Shree Rajiv Lochan Oil Extraction Limited on the standalone financial statements for the year ended 31st March, 2026) [Companies (Auditors Report) Order, 2020]

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 report that:

(i) (a) (A) In our opinion and according to the information and explanations given to us, the Company has maintained proper records showing full particulars, including quantitative details, of its Property, Plant and Equipment. The Company s Property, Plant and Equipment, as at 31st March, 2026, comprise only office equipment (air-conditioners, computers, furniture & fixtures and a printer) carried at an aggregate net book value of 0.06 lakh ( 6,094), the Company s erstwhile factory land, building and plant having been disposed of in an earlier year and its core manufacturing operations having remained suspended since.

(B) The Company does not have any intangible assets; accordingly, reporting on maintenance of records of intangible assets does not arise.

(b) The Company has a program of physical verification of its Property, Plant and Equipment, which, in our opinion, is reasonable having regard to the size of the Company and the nature of its assets. Under this program, physical verification was carried out by the management during the current financial year for the assets. No material discrepancies were noticed on such verification.

(c) According to the information and explanations given to us and on the basis of our examination of the records of the Company, including the disclosure at Note 2 to the financial statements, the Company does not hold any immovable property (land and/or buildings), either freehold or leasehold, as at 31st March, 2026. Accordingly, reporting on title deeds of immovable property under clause 3(i)(c) is not applicable to the Company for the year.

(d) According to the information and explanations given to us, the Company has not revalued its Property, Plant and Equipment (including right-of-use assets) or intangible assets during the year, and has not carried out any such revaluation based on the valuation by a Registered Valuer; accordingly, reporting under clause 3(i)(d) does not arise.

(e) According to the information and explanations given to us, no proceedings have been initiated or are pending against the Company for holding any benami property under the Prohibition of Benami Property Transactions Act, 1988 (45 of 1988) and the rules made thereunder.

(ii) (a) The Company did not hold any inventory, either at the beginning or at the close of the year, its manufacturing operations having remained suspended throughout the year with nil revenue from operations. Accordingly, reporting on physical verification of inventory, and on discrepancies of 10% or more in aggregate for each class of inventory, under clause 3(ii)(a) is not applicable to the Company for the year.

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

(iii) During the year, the Company did not make any fresh investments, nor grant any fresh loans or advances in the nature of loans, nor provide any guarantee or security, to any party; the Sec 186 register reflects only the following balances carried forward from earlier years: non-current investments in equity shares of Vijay Shree Fats & Oil Products (P) Ltd. ( 32.87 lakh) and Bagadiya Bros. (P) Ltd. ( 100.00 lakh), aggregating 132.87 lakh; and short-term loans and advances aggregating 184.11 lakh, comprising Pear Global Pvt. Ltd. ( 113.80 lakh), Subh Raipur Vyapaar Vihar Developers ( 30.94 lakh), Lime Star Venture Pvt. Ltd. ( 22.42 lakh), Varda Agrotrade Pvt. Ltd. ( 13.82 lakh) and tax-related balances of 3.13 lakh. None of these parties are subsidiaries, joint ventures or associates of the Company, or parties in which the directors are interested within the meaning of Section 185 of the Act.

(a) As no investments were made and no loans, advances, guarantees or security were given during the year, reporting on the aggregate amount granted/provided during the year, and balance outstanding, in respect of subsidiaries, joint ventures and associates does not arise, there being none. The aggregate balances of loans and advances outstanding at the year-end in respect of other parties are as stated above.

(b) The loans and advances outstanding carry interest at rates ranging from 6% to 15% per annum across different counterparties. We were not provided with any documented credit-risk assessment or commercial rationale supporting this differential in rates. In the absence of such documentation, we are unable to confirm that the terms and conditions of these loans and advances are not, in all respects, prejudicial to the Company s interest.

(c) Formal repayment schedules have not been stipulated for the loans and advances granted by the Company. In the absence of any stipulated terms, these amounts are, in substance, repayable on demand. The balances due from Pear Global Pvt. Ltd. ( 113.80 lakh) and Lime Star Venture Pvt. Ltd. ( 22.42 lakh) have remained outstanding and unrecovered throughout the year and in earlier years; the balance due from Varda Agrotrade Pvt. Ltd. ( 13.82 lakh) has also remained static during the year.

(d) In the absence of a stipulated repayment date, we have treated amounts remaining unrecovered for more than ninety days as overdue for the purposes of this clause. The total amount overdue for recovery in respect of the loans/advances granted to Pear Global Pvt. Ltd. and Lime Star Venture Pvt. Ltd., aggregating 136.23 lakh, has remained outstanding for a period exceeding ninety days as at the balance sheet date. Documentation evidencing reasonable steps taken by the Company for recovery of the principal and interest was not made available to us.

(e) As no fresh loans or advances were granted during the year, no loan was renewed and no fresh loan was granted to settle the overdues of existing loans granted to the same or other parties.

(f) The Company s loans and advances in the nature of loans, aggregating 180.98 lakh (Pear Global Pvt. Ltd., Subh Raipur Vyapaar Vihar Developers, Lime Star Venture Pvt. Ltd. and Varda Agrotrade Pvt. Ltd.), were granted without specifying any terms or period of repayment. None of these parties are promoters or related parties of the Company; accordingly, the percentage of such loans/advances outstanding to promoters and related parties is nil.

(iv) In our opinion and according to the information and explanations given to us, the Company has not granted any loans, made any investments, or provided any guarantee or security to or on behalf of any director or to any other person in whom a director is interested, and has accordingly complied with the provisions of Section 185 of the Companies Act, 2013. As no fresh investments, loans, guarantees or security were made or given during the year, the provisions of Section 186 relating to fresh transactions were not triggered during the year; the investments and loans/advances carried forward from earlier years are reflected in the register maintained under Section 186.

(v) In our opinion and according to the information and explanations given to us, the Company has not accepted any deposits, or amounts which are deemed to be deposits, from the public within the meaning of Sections 73 to 76 of the Companies Act, 2013 and the rules framed thereunder. The Company has unsecured borrowings aggregating 14.19 lakh from a director (Mr. Deepak Raheja 13.65 lakh) and a relative of a promoter/director (Ms. Kalpana Raheja 0.55 lakh), which the Company regards as exempt from the definition of deposit under the Companies (Acceptance of Deposits) Rules, 2014. The declarations required from the director and the relative, confirming that the amounts given by them are not out of funds acquired by borrowing or accepting loans from others, had not been obtained as at the date of our examination; in the absence of these declarations, we are unable to confirm that the exemption is available in full. No order has been passed by the Company Law Board, National Company Law Tribunal, Reserve Bank of India, or any Court or other Tribunal against the Company in this regard.

(vi) The maintenance of cost records has been specified by the Central Government under sub-section (1) of Section 148 of the Companies Act, 2013 in respect of certain classes of companies engaged in specified activities, subject to prescribed turnover thresholds. Having regard to the fact that the Company earned nil revenue from operations during the year, its manufacturing operations having remained suspended, we are of the view that the prescribed turnover threshold is not met and the maintenance of cost records is accordingly not applicable to the Company for the year; we have, therefore, not made a detailed examination of such records.

(vii) (a) According to the information and explanations given to us and on the basis of our examination of the records, the Company has generally been regular in depositing undisputed statutory dues, including income-tax, tax deducted at source, and other statutory dues applicable to it, with the appropriate authorities during the year. As the Company earned nil revenue from operations, the provisions relating to goods and services tax, sales tax, customs duty, excise duty and value added tax were not applicable during the year; and, having regard to its minimal employee strength, no amounts were outstanding in respect of provident fund or employees state insurance. There were no undisputed amounts payable in respect of the aforesaid statutory dues that were outstanding for a period of more than six months from the date they became payable as at 31st March, 2026, other than the provision for income-tax of 23.07 lakh and TDS payable of 0.34 lakh recognised at the year-end, both of which were not yet due for payment as at that date.

(b) According to the information and explanations given to us, there are no statutory dues referred to in sub-clause (a) above which have not been deposited with the appropriate authorities on account of any dispute.

(viii) According to the information and explanations given to us and the records of the Company examined by us, we have not come across any transactions not recorded in the books of account that have been surrendered or disclosed as income during the year in any tax assessments under the Income-tax Act, 1961.

(ix) (a) According to the records examined by us and the information and explanations given to us, the Company has not defaulted in the repayment of loans/borrowings or in the payment of interest to any lender during the year. The Company s only borrowings are unsecured, interest-free loans from a director and a relative of a promoter/director, aggregating 14.19 lakh at the year-end; the Company made net repayments to the director during the year, and it has no borrowings from any bank, financial institution or debenture holder.

(b) According to the information and explanations given to us, the Company has not been declared a wilful defaulter by any bank, financial institution, or other lender.

(c) The Company did not obtain any term loans during the year; accordingly, reporting on the application of term loans for the purpose for which they were obtained under clause 3(ix)(c) is not applicable.

(d) 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 during the year.

(e) According to the information and explanations given to us and on an overall examination of the financial statements, the Company does not have any subsidiary, associate or joint venture; accordingly, reporting on funds raised to meet the obligations of subsidiaries, associates or joint ventures under clause 3(ix)(e) does not arise.

(f) As the Company does not have any subsidiary, joint venture or associate company, reporting on loans raised on the pledge of securities held in such entities under clause 3(ix)(f) does not arise.

(x) (a) The Company did not raise any money by way of initial public offer or further public offer, including debt instruments, during the year; accordingly, reporting under clause 3(x)(a) is not applicable.

(b) The Company did not make any preferential allotment or private placement of shares or fully, partially or optionally convertible debentures during the year; accordingly, the provisions of Sections 42 and 62 of the Companies Act, 2013 were not applicable, and reporting under clause 3(x)(b) does not arise. We note, for completeness, that calls-in-arrears of 107.50 lakh on 21,50,000 partly-paid equity shares issued in an earlier year remain long outstanding, and the Board has not initiated forfeiture proceedings in this regard; this, however, does not constitute a fresh issue of securities during the year under audit.

(xi) (a) Based on the audit procedures performed by us, including examination of journal entries and other analytical procedures carried out during the course of the audit, and according to the information and explanations given to us, we have neither noticed any instance of fraud by the Company or on the Company, nor have we been informed of any such instance, during the year.

(b) As no fraud has been noticed or reported 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 with the Central Government.

(c) We have not otherwise come across any whistle-blower complaints received by the Company during the year; Accordingly, the reporting requirement under Clause 3(xi)(c) of the Order is not applicable

(xii) The Company is not a Nidhi Company; accordingly, reporting under clauses 3(xii)(a), (b) and (c) is not applicable.

(xiii) According to the information and explanations given to us, transactions with related parties are, in our opinion, disclosed in the financial statements as required by Indian Accounting Standard (Ind AS) 24, We further report that:

(a) Related-party transactions entered into during the year have been placed before, and approved by, the Audit Committee, in terms of Section 177 of the Companies Act, 2013 and Regulation 23(1)/(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015;

(b) Shareholder approval, required under Section 188 of the Companies Act, 2013 read with Regulation 23(4) of the SEBI LODR Regulations, 2015 for material related-party transactions (all related-party transactions during the year being material for this purpose, given the Company s nil turnover), has not been obtained. Except for these matters, in our opinion the Company has complied with the requirements of Sections 177 and 188 of the Act, where applicable.

(xiv) (a) The Company, being a listed entity, is required under Section 138 of the Companies Act, 2013 read with Rule 13 of the Companies (Accounts) Rules, 2014 to have an internal audit system, irrespective of its size or turnover. The company has appointed "M/s GOEL & Goyal, Chartered Accoutant" as an Internal Auditor for the company, however, no formal written reports were issued by the Internal Auditor during the year under audit.

(b) As no formal reports were issued by the Internal Auditor for the period under audit, we did not consider any such reports in the course of our statutory audit. We recommend that the Internal Auditor formalize reporting in writing to the Audit Committee on a periodic basis going forward.

(xv) According to the information and explanations given to us, the Company has not entered into any non-cash transactions with its directors or with 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) (a) The Company does not hold a Certificate of Registration under Section 45-IA of the Reserve Bank of India Act, 1934. We draw attention to the fact that, as at 31st March, 2026, the Company s financial assets (investments and loans and advances) constitute approximately 59% of its total assets, and its entire income for the year ( 25.83 lakh) comprises interest income earned on financial assets, the Company having earned nil revenue from operations for the third consecutive year. This asset and income composition is indicative of the principal business criteria (the 50-50 test) prescribed by the Reserve Bank of India for classification as a Non-Banking Financial Company; however, statutory exclusions under Section 45-I(c) of the RBI Act, 1934 may also be relevant and have not been evaluated. The Companys Board has not completed or documented an assessment of whether registration under Section 45-IA is required. In the absence of such an assessment, we are unable to comment on whether the Company is required to be registered under Section 45-IA of the Reserve Bank of India Act, 1934, and, if so, whether such registration has been obtained.

(b) As we are unable to conclude on the matter at (a) above, we are correspondingly unable to comment on whether the Company has conducted any Non-Banking Financial or Housing Finance activities without a valid Certificate of Registration from the Reserve Bank of India.

(c) Based on the information and explanations given to us, the Company is not a Core Investment Company (CIC), as defined in the regulations made by the Reserve Bank of India. In any event, and irrespective of the conclusion to be reached on the matter referred to in sub-clause (a) above, the Company s total assets of 535.71 lakh are well below the 100 crore asset-size threshold prescribed for mandatory registration of a CIC.

(d) As the Group does not have any Core Investment Company, reporting on the number of CICs within the Group under clause 3(xvi)(d) does not arise.

(xvii) The Company has not incurred any cash loss during the current financial year (cash profit of 6.87 lakh, being profit after tax of 6.87 lakh with Nil depreciation). During the immediately preceding financial year (FY 2024-25), the Company incurred a cash loss of approximately 12.68 lakh.

(xviii) There has been no resignation of the statutory auditors of the Company during the year; accordingly, reporting under clause 3(xviii) is not applicable.

(xix) On the basis of the financial ratios, the ageing and expected dates of realisation of financial assets and payment of financial liabilities, and our knowledge of the plans of the Board and management, we draw attention to the fact that the Company s principal manufacturing plant has been disposed of and its core operations have remained suspended, and that management has not provided us with a formal going-concern assessment covering a period of at least twelve months from the balance sheet date, nor with the projected cash flows and assumptions supporting the use of the going-concern basis of accounting. In the absence of such an assessment and supporting documentation, we were unable to obtain sufficient appropriate audit evidence and are, therefore, unable to comment as to whether or not any material uncertainty exists as on the date of this report that the Company is capable of meeting its liabilities existing at the date of the Balance Sheet as and when they fall due within a period of one year from the balance sheet date, this being consistent with the Disclaimer of Opinion expressed in our main audit report. We further clarify that this statement is not an assurance as to the future viability of the Company, nor a guarantee that the Company will meet its liabilities as and when they fall due.

(xx) The provisions of Section 135 of the Companies Act, 2013 relating to Corporate Social Responsibility are not applicable to the Company for the year, none of the thresholds prescribed under Section 135(1) (net worth of 500 crore or more, turnover of 1,000 crore or more, or net profit of 5 crore or more in the immediately preceding financial year) being met the Company s net worth as at 31st March, 2026 being 511.39 lakh, its revenue from operations being nil, and it having incurred a net loss in the immediately preceding financial year. Accordingly, reporting under clauses 3(xx)(a) and (b) is not applicable.

(xxi) The reporting requirement under clause 3(xxi), relating to qualifications or adverse remarks by respective auditors in the CARO reports of companies included in the consolidated financial statements, applies to the auditor s report on consolidated financial statements and is not applicable to this standalone report. We note, for completeness, that the Company does not have any subsidiary, associate or joint venture and is accordingly not required to prepare consolidated financial statements for the year.

For, MILIND NYATI & CO LLP

CHARTERED ACCOUNTANTS

Firm Registration No.: 014455C/F400403

CA Aakash Kesharwani

Partner

Membership No.: 446240

UDIN: 26446240QWNDDU4593

Place: Raipur

Date: 29/05/2026

SHREE RAJIV LOCHAN OIL EXTRACTION LIMITED

SHREE RAJIV LOCHAN OIL EXTRACTION LIMITED, RAIPUR (C.G.)