Sri Lakshmi Saraswathi Textiles Arni Ltd Auditor Reports

To the members of SRI LAKSHMI SARASWATI TEXTILES (ARNI) LIMITED

(CIN: L17111TN1964PLC005183)

Report on the audit of the Standalone Ind AS Financial Statements

Qualified Opinion

We have audited the accompanying financial statements of SRI LAKSHMI SARASWATI TEXTILES (ARNI) LIMITED (“the Company”), which comprise the Balance Sheet as at March 31, 2026, the Statement of Profit and Loss, (including Other Comprehensive Income), the Statement of Changes in Equity and Statement of Cash Flows for the year then ended and notes to the Financial Statements, including a summary of the Material Accounting Policy information and other explanatory information, [hereinafter referred to as Ind AS Financial Statements].

In our opinion and to the best of our information and according to the explanations given to us, except for the matters described in the Basis for Qualified Opinion paragraph below the aforesaid Standalone Financial Statements give the information required by 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, 2026, and its Loss including other comprehensive income, its cashflow and changes in equity for the year ended on that date.

Basis for Qualified Opinion

1. Material Uncertainty Related to Going Concern: The Companys net worth has been completely eroded. As per the books of accounts, the accumulated losses for the reporting period amount to ?10,514.05 lakhs (Previous Year: ?9,195.88 lakhs), and the turnover for the year ended March 31, 2026, has declined to ?8,727.79 lakhs (Previous Year: ?9,948.58 lakhs). Furthermore, the Statement of Profit and Loss indicates that the Company has incurred net losses for the previous three consecutive financial years, including the period under audit. These events and conditions indicate the existence of a material uncertainty that may cast significant doubt on the Companys ability to continue as a going concern. However, the financial statements have been prepared on a going concern basis, predicated on managements assessment that the Company will generate sufficient profits in the foreseeable future.

2. Non-Receipt of Confirmations: As at 31st March 2026, the Company has outstanding balances pertaining to Advances Made (?395.57 lakhs), Advances Received (?93.09 lakhs), Trade Receivables (?75.05 lakhs), and Trade Payables (?3,350.77 lakhs). We have not received balance confirmations from the respective parties for the aforementioned advances and receivables. Furthermore, in respect of Trade Payables, confirmations were received for balances amounting to ? 1,116.45 lakhs only, revealing an unreconciled difference of ?3.40 lakhs. We were unable to obtain sufficient appropriate audit evidence regarding the existence, completeness, and carrying value of these balances through alternative audit procedures. Consequently, we are unable to determine whether any adjustments to these carrying amounts were necessary and the consequential impact thereof on the accompanying financial statements.

3. Non-Remittance of Statutory Dues: The Company has not been regular in depositing undisputed statutory dues with the appropriate authorities during the financial year. On a consolidated basis across the Companys divisions, we draw attention to the following non-compliances:

a) Employees State Insurance (ESI): As at March 31, 2026, consolidated ESI contributions aggregating to ?10.42 lakhs, pertaining to the period from January 2025 to March 2026, remained outstanding. Accordingly, a cumulative provision for interest of ?0.62 lakhs was recognized in the books of accounts as at the year-end. Subsequent to the balance sheet date, the Company remitted ?5.71 lakhs on April 7, 2026. As at the date of our audit report, the principal balance of ?4.71 lakhs and corresponding accumulated interest of ?0.16 lakhs remain unpaid.

b) Employees Provident Fund (EPF): As at March 31, 2026, consolidated EPF dues aggregating to ?124.78 lakhs for the period from August 2024 to March 2026 remained outstanding. Provisions for interest and damages amounting to ?10.09 lakhs and ?10.61 lakhs, respectively, were recognized as at March 31, 2026. As at the date of our audit report, the principal amount of ?124.78 lakhs remains unpaid, along with accumulated interest and damages of ?12.38 lakhs and ?13.07 lakhs, respectively. This however, does not include unpaid ESI for employees in the garments division, the amount for which, was not available for our verification.

c) Tax Deducted at Source (TDS) & Tax Collected at Source (TCS): TDS and TCS

aggregating to ?24.83 lakhs, deducted/collected during the period from May 2025 to March 2026, were not deposited within the prescribed statutory timelines. Provisions for interest amounting to ?1.45 lakhs, were recognized as at March 31, 2026. Subsequent to the balance sheet date, a partial remittance of ?0.35 lakhs was made on April 6, 2026. As at the date of our audit report, the principal amount of ?24.47 lakhs and accumulated interest of ?2.96 lakhs remain outstanding.

d) Goods and Services Tax (GST): During the month of September 2025, the Company erroneously claimed excess Input Tax Credit (ITC) of ?6.75 lakhs under IGST, with a corresponding short claim of ?3.38 lakhs each under CGST and SGST due to a classification error. While the short claims in CGST and SGST were rectified in the November 2025 returns, the excess IGST ITC of ?6.75 lakhs remains unreversed and unpaid to the GST Department as at the date of our audit report.

The non-payment of these dues constitutes a contravention of the respective statutory acts. Furthermore, the financial statements do not fully reflect the potential impact of further escalation of penalties or the legal ramifications arising from such long-term defaults, the quantum of which is currently unascertainable but considered material to the financial obligations of the Company.

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Act. 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 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 Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Emphasis of matter paragraph.

We draw attention to the following matters in the notes to the financial statements:

• Note 36(b)(viii), which details an advance amounting to ?21.40 lakhs and ?13.18 lakhs made by the Company for the purchase of machinery and for the purchase of ring frames. As disclosed, this capital advance has remained outstanding for more than three years and no confirmation of balance has been obtained.

• Note 19, As at March 31, 2026, the Company has accumulated tax losses amounting to ? 8,544.46 lakhs and unutilized tax credits of ?105.95 lakhs. A deferred tax asset has not been recognized in respect of these items as there is currently no convincing evidence that sufficient taxable profits will be available in the near future to allow for their utilization.

Our opinion is not modified in respect of these matters.

Key Audit Matters -

Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the financials statements of the current period. We have determined that there is no key audit matters to be communicated in the report.

Information Other Than Financial Statements and Auditors Report Thereon

The Companys Board of Directors is responsible for the other information in the Annual Report, comprising of the Directors report and its annexures, 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 if 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 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 and presentation of these Standalone Financial Statements that give a true and fair view of the Standalone Financial position, Standalone Financial Performance (including other comprehensive income),changes in equity and Cash Flows 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 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 Board of Directors are also responsible for overseeing the Companys Financial reporting process.

Auditors Responsibility 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 controls 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 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.

Materiality is the magnitude of misstatements in the standalone financial statements that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the Financial Statements may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the Financial Statements.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

Report on Other Legal and Regulatory Requirements

1. 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 are necessary for the purpose of our audit.

b. In our opinion, proper books of accounts as required by the law have been kept by the Company as far as it appears from our examinations of those books.

c. The Balance Sheet, Statement of Profit and Loss(including other comprehensive income),the statement of changes in equity and the Cash Flow Statement dealt with by this report are in agreement with the books of accounts.

d. In our opinion, the aforesaid standalone Financial Statements comply with the Indian Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014.

e. On the basis of written representations received from the directors as on 31 March 2026 taken on record by the Board of Directors, none of the directors is disqualified as on 31 March 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 over financial reporting of the Company and the operating effectiveness of such control refer to our separate report in “Annexure A.”

g. With respect to the 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 requirements of Section 197(16) of the Act, as amended

h. 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 no pending litigations and hence, reporting under this clause is not applicable.

ii. The Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses.

iii. The company is not required to transfer any amount to Investor Education and Protection Fund.

iv.

a. The management has represented that, to the best of its knowledge and belief, no funds (which are material either individually or in the aggregate) 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 or entity, including foreign entity (“intermediary”), 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, no funds (which are material either individually or in the aggregate) have been received by the company from any person or entity, including foreign entity (“Funding Parties”), with the understanding, whether recorded in writing or otherwise, that the company shall, whether, directly or indirectly, lend or invest in other person or entities identified in any manner whatsoever by or the like on behalf of the funding parties (“Ultimate Beneficiaries”) are provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries;

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

v. The board of directors of the company have not proposed final dividend for the year which is subject to the approval of members at the ensuing annual general meeting.

vi. The company does not have the accounting software which has the feature of recording audit trail (edit log) facility as applicable to the company with effect from April 1, 2023 as prescribed under Proviso to Rule 3(1) of the Companies (Accounts) Rules, 2014.

2. As required by the Companies (Auditors Report) Order, 2020 ("the Order"), as amended, issued by the Central Government of India in terms of sub-section (11) of section 143 of the Act, we give in the "Annexure B" a statement on the matters specified in the paragraphs 3 and 4 of the Order to the extent applicable.

ANNEXURE “A” TO THE INDEPENDENT AUDITORS REPORT OF EVEN DATE ON THE STANDALONE FINANCIAL STATEMENTS OF SRI LAKSHMI SARASWATI TEXTILES (ARNI) LIMITED

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 SRI LAKSHMI SARASWATI TEXTILES (ARNI) LIMITED. (“the Company”) as of March 31, 2026 in conjunction with our audit of the Standalone Ind AS Financial Statements of the Company for the year ended on that date.

Managements Responsibility for Internal Financial Control

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

Auditors Responsibility

Our responsibility is to express an opinion on the Companys internal financial controls over financial reporting based on our audit. We conducted our audit in accordance with 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 Auditors judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.

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

Meaning of Internal Controls for 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 controls 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.

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 March 31 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 ICAI.

ANNEXURE “B” TO THE INDEPENDENT AUDITORS REPORT OF EVEN DATE ON THE STANDALONE FINANCIAL STATEMENTS OF SRI LAKSHMI SARASWATI TEXTILES (ARANI) LIMITED

The Annexure referred to in Paragraph 2 under the heading Report on Other Legal and Regulatory Requirements of our Report of even date:

To the best of our information and according to the explanations provided to us by the Company and the books of account and records examined by us in the normal course of audit, we state that:

(i) In respect of the Companys Property, Plant and Equipment and Intangible Assets:

(a) (i) The Company has maintained proper records showing full particulars, including

quantitative details and situation of Property, Plant and Equipment.

(ii) The Company has maintained proper records showing full particulars of intangible assets.

(b) According to the information and explanation given to us and on the basis of examination of the records of the Company, the company has verified the property plant and equipment at the reasonable interval and no material discrepancies ware noticed on such verification.

(c) Based on our examination of the property tax receipts, registered sale deed/ transfer

deed / conveyance deed and confirmation from bank for the title deeds held with them we report that, the title in respect of self-constructed buildings and title deeds of all other immovable properties, disclosed in the financial statements included under Property, Plant and Equipment are held in the name of the Company as at the balance sheet date.

(d) According to the information and explanations given to us and based on the

examination of the records of the company, the company has revalued its Property, Plant and Equipment during the current year.

The revaluation was carried out by a Registered Valuer as defined under Rule 2 of the Companies (Registered Valuers and Valuation) Rules, 2017. The revaluation has resulted in a change in the carrying amount of the following classes of Property, Plant and Equipment by 10% or more of their respective net carrying values:

(Amount inLakhs)

Class of Asset	Amount of Change	% of Change
Land	23,903.85	349016%
Building	3,431.13	1667%
Plant & Machinery	1,458.54	152%

The company has not revalued its intangible assets during the current year.

(e) No proceedings have been initiated during the year or are pending against the Company as at March 31, 2026 for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 and rules made thereunder.

(ii) (a) The Management has conducted physical verification of inventory at reasonable intervals and in our opinion, the coverage and procedure of such verification by the management is appropriate; Discrepancies of 10% or more were not noticed.

(b) The Company has been sanctioned working capital limits in excess of Rs.5 crores, in aggregate during the year from Bank on the basis of security of current assets. Quarterly statements have been submitted to the Bank and the details of the differences between the books of account and statements submitted to the Bank at the end of each quarter are given in Note No.37 to Financial statement.

(iii) (a)The Company has not granted any loans or advances in the nature of loans either repayable on demand or without specifying and terms or period of repayment during the year. Hence, reporting under clause 3(iii)(f) is not applicable. According to the information and explanations given to us, the Company has not provided any loans, advances in the nature of loans, stood guarantee, or provided security to any other entity during the year. Accordingly, the reporting requirements under clause 3(iii)(a)(A) and (B) of the Order are not applicable.

(b) In our opinion and according to the information and explanations given to us, the investments made by the Company during the year are not, prima facie, prejudicial to the Companys interest.

(c) , (d), (e), & (f) As the Company has only made investments and has not granted any loans or advances in the nature of loans during the year, the reporting requirements under sub-clauses (c), (d), (e), and (f) regarding repayment schedules, overdue amounts, renewals/extensions, and loans repayable on demand are not applicable to the Company.

(iv) The Company has complied with the provisions of Sections 185 and 186 of the Companies Act, 2013 in respect of investments made by the Company. The Company has not provided any loans or guarantee or security to any Company covered under Section 185.

(v) The Company has not accepted any deposit or amounts which are deemed to be deposits. Hence, reporting under clause 3(v) of the Order is not applicable.

(vi) The Central Government has prescribed maintenance of cost records under Subsection (1) of Section 148 of the Companies Act, 2013. We have broadly reviewed the books of account maintained by the Company pursuant to the rules made by the Central Government for the maintenance of cost records under Section 148 of the Act, and are of the opinion that prime facie, the prescribed and such accounts and records have been made and maintained.

(vii) In respect of statutory dues:

(a) In our opinion, the Company has not been regular in depositing undisputed statutory dues and the details of such statutory dues pending as on March 31, 2026 are as follows:

Name of Statutory dues	Amount (Rs, Lakhs)	Period to which the dues belong	Description
Employees State Insurance	10.42	January 2025 - March 2026	Deducted from employees salaries, but not remitted.
Provident Fund	124.78	August 2025 -March 2026	Deducted from employees salaries, but not remitted.
Tax Deducted/Collected at Source	24.83	May 2025-March 2026	TDS/TCS deducted/collected but not remitted.
Goods and Services Tax	6.75	September 2025	Excess IGST ITC claimed due to classification error, pending reversal and remittance.

(b)There are no disputed statutory dues, as per the information and explanations given to us and the records provided to us. Hence, reporting in this clause is not applicable.

(viii) There were no transactions relating to previously unrecorded income that have been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (43 of 1961).

(ix) a) The company has not defaulted on its repayment of loans or other borrowings or in the payment of interest thereon to the lender during the year.

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

c) The Company has applied the term loans for the purpose for which they were obtained.

d) On an overall examination of the financial statements of the Company, funds raised on short term basis have prima facie, not been used during the year for long term purposes by the company.

e) On an overall examination of the financial statements of the Company, the Company has no subsidiaries. Hence, reporting under Clause 3(ix)(e) not applicable.

f) On overall examination of financial statements, the company has not taken any funds from any entity or person on account of or to meet the obligations of its subsidiaries, joint ventures, and associates.

(x)(a) The Company has not raised moneys by way of initial public offer or further public offer (including debt instruments) during the year and hence reporting under clause 3(x)(a) of the Order is not applicable.

(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.

(xi) (a) No fraud by the Company and no fraud on the Company has been noticed or reported during the

year.

(b) No report under sub-section (12) of section 143 of the Companies Act has been filed in Form ADT-

4 as prescribed under Rule 13 of Companies (Audit and Auditors) Rules, 2014 with the Central Government, during the year and up to the date of this report.

(c) The Company has not received any whistle blower complaints during the year (and up to the date of this report), while determining the nature, timing and extent of our audit procedure.

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

(xiii) In our opinion, the Company is in compliance with Section 177 and 188 of the Companies Act, 2013 with respect to applicable transactions with the related parties and

the details of related party transactions have been disclosed in the financial statements as required by the applicable accounting standards.

(xiv) (a) According to the information and explanations given to us, the company has an adequate internal

audit system commensurate with the size and nature of its business.

(b) We have considered the internal audit reports for the year under audit, issued to the Company during the year and till date.

(xv) According to the information and explanations given to us, the company has not entered into any non-cash transactions as per section 192 of the Companies Act 2013, with directors or persons connected with him. Hence, this clause is not applicable.

(xvi) (a) The Company is not required to be registered under Section 45-IA of the Reserve Bank of India

Act, 1934.

(b) The Company has not conducted any Non-Banking Financial or Housing Finance activities during the year.

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

(d) The company does not have any subsidiary, associate or joint venture: therefore, there is no

group as defined in the regulations. Accordingly, the provision of Clause (xvi)(d) of order is not applicable

(xvii) According to the information and explanations given to us, the company has incurred cash losses during the year, which amounts to Rs. 0.78 Lakhs (Previous year cash loss of Rs. 23.58 Lakhs).

(xviii) There has been no resignation of the statutory auditors of the Company during the year.

(xix) On the basis of the financial ratios, ageing and expected dates of realisation of financial assets and payments of financial liabilities, other information accompanying the financial statements and 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 indicating 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.

(xx) (a) According to the information and explanations given to us, the company is not required to transfer

any amount to a Fund specified in Schedule VII to the Companies Act within a period of six months of the expiry of the year. Hence this clause is not applicable.

(b) The Company is not required to spend the minimum amount required to be spent as stipulated in Section 135 of the Companies Act. Hence this clause is not applicable.

(xxi) The Company has no subsidiary and hence Clause 3(xxi) is not applicable

	For M/s S Viswanathan LLP
	Firm RegnNo.004770S/S2000025
	Chartered Accountant
Place: Chennai	Chella K Srinivasan
Date: May 27, 2026	Partner
	Membership No 023305
	UDIN: 26023305GFBWPS9619