Trejhara Solutions Ltd Auditor Reports

To the Members of Trejhara Solutions Limited

Report on the Audit of the Standalone Financial Statements (Post Merger)

This Report supersedes our Report dated 30/05/2025

for reasons mentioned under Note No. 44 to the

Standalone Financials Statements.

Opinion

1. We have audited the accompanying Standalone Financial Statements (Post Merger) of Trejhara Solutions Limited ("the Company"), which comprise the Standalone Balance Sheet as at 31/3/2025, the Standalone Statement of Profit and Loss (including Other Comprehensive Income), the Standalone Statement of Changes in Equity and the Standalone Statement of Cash Flows for the year then ended on that date, and notes to the Standalone Financial Statements, including a summary of material accounting policy information and other explanatory notes for the year ended on that date (hereinafter referred to as "the Standalone Financial Statements").

I n 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, as amended ("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 31/03/2025, its Profit and the Other Comprehensive Income, Changes in Equity and its Cash Flows for the year ended on that date.

Basis for Opinion

2. We conducted our audit of the Standalone Financial Statements in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Act. Our responsibilities

under those SAs are further described in the Auditors Responsibilities for the Audit of the Standalone Financial Statements section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India ("ICAI") together with the ethical requirements that are relevant to our audit of the Standalone Financial Statements under the provisions of the Act, and the rules 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 we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Standalone Financial Statements.

Key Audit Matters

3. Key audit matters (KAM) are those matters that, in our professional judgement, were of most significance in our audit of the Standalone Financial Statements of the current year. These matters were addressed in the context of our audit of the Standalone Financial Statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. We have determined the matters described below to be the KAM to be communicated in our report.

We have fulfilled the responsibilities described in the Auditors Responsibilities for the Audit of the Standalone Financial Statements section of our report, including in relation to these matters. Accordingly, our audit included the performance of procedures designed to respond to our assessment of the risks of material misstatement of the Standalone Financial Statements. The results of our audit procedures, including the procedures performed to address the matters below, provide the basis for our audit opinion on the accompanying Standalone Financial Statements.

Information Other than the Standalone Financial Statements and Auditors Report Thereon

4. The Companys Management and Board of Directors are responsible for the other information. The other information comprises the information included in the Companys annual report, but does not include the Standalone

Financial Statements, and our auditors report thereon. The Other Information is expected to be made available to us after the date of this auditors report.

Our opinion on the Standalone Financial Statements does not cover the other information and we do not express any form of assurance conclusion thereon.

Key Audit Matter	Auditors Response
Revenue Recognition
Revenue from software services is recognized based on "right to use" or "right to access" of Software as a Service (SaaS) platform available to client based on period of use as per the contractual terms.	We have obtained understanding of the systems and processes implemented by the Company and tested the effectiveness of controls relating to recording and computing revenue and associated contract assets, unearned and deferred revenue balances. Our audit approach consisted testing of the design and operating effectiveness of the internal controls and substantive testing as under:
Revenue from the sale of licenses, support, and other services is recognized when the related performance obligations are satisfied.	- Selected random samples of continuing and new contracts, and tested the operating effectiveness of the internal control, relating to (a) identification of the distinct performance obligations (b) determination of whether the Company is acting as a principal or an agent (c) determination of whether fixed price maintenance revenue for certain contracts is recognized on a straight-line basis or using the percentage of completion method and (d) determination of transaction price. We performed procedures involving enquiry and observation, verification of evidence in respect of operation of these controls.
Revenue on fixed price contracts is recognized where performance obligations are satisfied over time and computed as per the input method based on the Companys estimate of contract costs.	- Assessed the IT environment in which the business systems operate and related information used in recording and disclosing revenue in accordance with the said Ind AS.
Revenue from sale of services (freight & forwarding) is recognized on accrual basis on completion of job.	- Selected a sample of continuing and new contracts and performed certain procedures.
The application of Ind AS 115 "Revenue from Contracts with Customers" relating to certain contracts with customers involve managements judgment in (1) identification of distinct performance obligations (2) determination of transaction price of the said identified performance obligations (3) allocation of transaction price to the said performance obligations (4) determining whether the Company is acting as a principal or an agent (5) whether fixed price maintenance revenue is recognized on a straight-line basis or using the percentage of completion method, (6) basis for recognition of revenue over a period. Revenue recognition from these judgments were identified as a key audit matter and required a higher extent of audit effort.	- Assessed the appropriateness, accuracy and adequacy of related presentation and disclosures in accordance with the applicable accounting standards.
Refer Note 2.3 & 25 to the Standalone Financial Statements.

5. In connection with our audit of the Standalone Financial Statements, our responsibility is to read the other information identified above when it becomes available and, in doing so, consider whether the other information is materially inconsistent with the Standalone Financial Statements or our knowledge obtained in the 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.

When we read the Annual Report, if we conclude that there is a material misstatement therein, we are required to communicate the matter to those charged with governance and take appropriate action as applicable under the relevant laws and regulations.

Managements Responsibilities for the Standalone Financial Statements

6. The Companys management and Board of Directors are responsible for the matters stated in section 134(5) of the Act with respect to the preparation of these Standalone Financial Statements, in terms of the requirements of the Act, that give a true and fair view of the financial position, 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 of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Standalone Financial Statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

7. In preparing the Standalone Financial Statements, the Management and the Board of Directors are 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 the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

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

Auditors Responsibilities for the audit of the Standalone Financial Statements

8. 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 judgment and maintain professional skepticism throughout the audit. We also:

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

?–  Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under section 143(3)(i) of the Companies Act, 2013, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls system with reference to Financial Statements 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 and the Board of Directors.

?–  Oonclude on the appropriateness of the managements and the Board of Directors 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, 9. 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 Standalone 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 Standalone 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.

From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the Standalone Financial Statements of the current year 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

In accordance with the Scheme of Amalgamation ("the Scheme") referred to in Note No. 44 to the Standalone Financial Statements, the figures for the year ended 31/03/2025 have been revised to include the financial information of the LP Logistics Plus Chemical SCM Private Limited (Transferor Company) which reflect total assets of INR 3,192.61 lakhs as at 31/03/2025, Total Revenue of INR 8,805.37 lakhs , total Net Profit after tax of INR 94.48 lakhs and total comprehensive income of INR 93.11 lakhs and Net Cash Outflows of INR 120.12 lakhs for the year ended 31/03/2025. The financial information of the Transferor Company has been

audited by the then auditor, whose report dated 18/07/2025 expressed an unmodified opinion, has been furnished to us and relied upon by us.

The financial statements of the Transferor Company for the year ended 31/03/2025 have been prepared in accordance with IGAAP and the Transferee Companys Management has converted these financial statements from IGAAP to Ind AS and these Ind AS converted financial statements have been certified by the then auditor. We have verified the adjustments, being in the nature of elimination of transactions/ balances between Transferor and Transferee Company, made by the Transferee Companys Management, consequent to the merger of the Transferor Company with the Transferee Company, to arrive at the revised figures for the year ended 31/03/2025.

10. The Standalone Financial Statements (premerger) of the Transferee Company for the financial year ended 31/03/2024 were audited by the predecessor auditor and they expressed an unqualified opinion in their audit report dated 23/05/2024. Pursuant to the aforesaid Scheme, the Transferee Companys Management has given necessary effects in the said Standalone Financial Statements, which have been verified by us.

11. Standalone Financial Statements (pre-merger) of the Company for the year ended 31/03/2025 were earlier approved by the Board of Directors at their meeting held on 30/05/2025 and on which we expressed an unmodified opinion vide our audit report dated 30/05/2025. Pursuant to the aforesaid Scheme, the Transferee Companys Management has given necessary effects in the said Standalone Financial Statements, which have been verified by us.

Our opinion on the Standalone Financial Statements is not modified in respect of the above matters.

Report on Other Legal and Regulatory Requirements

12. As required by the Companies (Auditors Report) Order, 2020 (the "Order") issued by the Central Government of India in terms of sub-section (11) of section 143 of the Act, we give in the "Annexure

A" a statement on the matters specified in paragraphs 3 and 4 of the Order, to the extent applicable. With respect to the reporting under the Companies (Auditors Report) Order, 2020 (CARO 2020), in so far as it relates to the Transferor Company, we have relied upon the CARO 2020 report issued by the then statutory auditor of the Transferor Company, dated 18/07/2025. According to the information and explanations given to us, and based solely on the said auditors report, the reporting under the respective clauses of CARO 2020, to that extent, is based on the work carried out by the then auditor.

13. As required by Section 143(3) of the Act, based on our audit we report that:

a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit;

b) In our opinion, proper books of accounts as required by law have been kept by the Company so far as it appears from our examination of those books except for the matters stated in paragraph 10(h)(vi) below on reporting under Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014 (as amended);

c) The Standalone Balance Sheet, the Standalone Statement of Profit and Loss (including Other Comprehensive Income), the Standalone Statement of Changes in Equity and the Standalone Statement of Cash Flow Statement dealt with by this Report are in agreement with the books of account;

d) In our opinion, the aforesaid Standalone Financial Statements comply with the Ind AS notified under Section 133 of the Act read with relevant rules of the Companies (Indian Accounting Standards) Rules, 2015 as amended;

e) On the basis of the written representations received from the directors as on 31/03/2025 taken on record by the Board of Directors, none of the directors is disqualified as on 31/03/2025 from being appointed as a director in terms of Section 164(2) of the Act.

f) With respect to the adequacy of the internal financial controls with reference to Standalone Financial Statements of the Company and the operating effectiveness of such controls, refer to our separate Report in "Annexure B". Our report expresses an unmodified opinion on the existence of internal financial control with reference to Standalone Financial Statements and its operating effectiveness on the company.

g) In our opinion and to the best of our information and according to the information and explanations given to us, the company has paid no remuneration to its directors during the year. Accordingly, the provisions of section 197 of the Act are not applicable.

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, as amended, in our opinion and to the best of our information and according to the explanations given to us:

i. The Company has disclosed pending litigations as at 31/03/2025 on its financial position in the Standalone Financial Statements. (Refer note 32 to the Standalone Financial Statements).

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

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

iv. a) The Management has represented that, to the best of their knowledge and belief, as disclosed in note no. 45(viii) to the Standalone Financial Statements, no funds (which are material either individually or in aggregate), other than in normal course of business, have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the Company to or in any other person(s) or entity(ies), including foreign entities ("Intermediaries"), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall, whether, directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Company ("Ultimate Beneficiaries") or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries;

b) The Management has represented, that, to the best of their knowledge and belief, as disclosed in note no. 45(ix) to the Standalone Financial Statements, no funds (which are material either individually or in aggregate), have been received by the Company from any person(s) or entity(ies), 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 persons or entities identified in any manner whatsoever by or on behalf of the Funding Party ("Ultimate Beneficiaries") or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries;

c) based on such audit procedures, that have been considered reasonable and appropriate in the circumstances, performed by us, nothing has come to our notice that has caused us to believe that the representations under subclause (a) and (b) contain any material misstatement.

v. No dividend has been declared or paid during the year by the Company.

vi. Based on our examination which included test checks, the company has used an accounting software for maintaining its books of account which have a feature of recording audit trail (edit log) facility and the same was operational throughout the year for all relevant transactions recorded in the software.

Further, during the course of our audit, based on our examination and representation made by the management, we did not come across any instance of audit trail feature being tampered with.

Additionally, it has been observed that the Company has preserved the audit trail records in accordance with the statutory requirements prescribed for record retention.

For Chokshi & Chokshi LLP Chartered Accountants Firm Reg. No. 101872W/W100045

Amrish Thakker Partner

Membership No.:123069 UDIN: 25123069BMKSUM4917

Place : Navi Mumbai Date : 14/11/2025

Annexure A to Independent Auditors Report

(Referred to in paragraph 12 under Report on Other Legal and Regulatory Requirements section of our report of even date, to the members of Trejhara Solutions Limited ("the Company"), on the Standalone Financial Statements for the year ended 31/03/2025).

Based on the audit procedures performed for the purpose of reporting a true and fair view on the Standalone Financial Statements of the Company and taking into consideration the information and explanations given to us and the books of account and other records examined by us in the normal course of audit, we report that:

i. In respect of the Companys Property, Plant and

Equipment and Intangible Assets:

(a) (a) The Company has maintained proper records showing full particulars including quantitative details and situation of Property, Plant and Equipment (PPE) and relevant details of right-of-use assets.

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

(b) As explained to us, the Company has a program of verification to cover all the items of Property, Plant and Equipment in a phased manner to cover all the items over a period of three years, which, inour opinion,isreasonable having regard to the size of the Company and the nature of its assets. Pursuant to the program, certain Property, Plant and Equipment were physically verified by the management during the year. According to the information and explanations given to us, no material discrepancies were noticed on such verification;

(c) In our opinion and according to information and explanations given to us, and on based on our examination of the records of the company provided to us, we report that, the Company does not have immovable properties as at the balance sheet date;

(d) In our opinion and according to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company has not revalued its Property, Plant and Equipment (including Right-of-use assets) or Intangible assets or both during the year;

(e) In our opinion and according to the information and explanations given to us and on the basis of our examination of the records of the Company, there are no proceedings initiated or pending against the Company for holding any Benami property under the Benami Property Transactions Act, 1988 (as amended in 2016) (formerly the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder;

ii. (a) The Company does not hold any inventory as on 31/03/2025 hence, reporting under clause (ii)(a) of paragraph 3 of the Order is not applicable to the Company.

(b) According to the information and explanations given to us, as reported by other auditor and on the basis of our examination of the records of the Company, the Company has been sanctioned working capital limits in excess of five crore rupees, in aggregate, from Banks/ Financial Institution on the basis of security of current assets (Refer note 20.1(b) Standalone Financial Statements). In our opinion, the quarterly returns or statements filed by the Company with such banks are in agreement with the books of account of the Company.

iii. I n our opinion and according to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company has made investments in, and granted unsecured loans, to its related parties and other parties during the year, in respect of which necessary details are given as under:

Annexure A to Independent Auditors Report (contd.)

(a) The Company has provided loans and Advances in nature of loan during the year and details of which are given below:

(Amount in INR Lakhs)

Particular	Loan	Guarantee	Security	Advances in nature of loans
A Aggregate amount granted / provided during the year
(i) Subsidiary	313.05	-	-	-
(ii) Joint Venture	-	-	-	-
(iii) Associates	-	-	-	-
(iv) Other than (i),(ii),(iii)	746.32	-	-	-
B Balance Outstanding as at balance sheet date in respect of above cases
(i) Subsidiary	-	-	-	-
(ii) Joint Venture	-	-	-	-
(iii) Associates	-	-	-	-
(iv) Other than (i),(ii),(iii)	1,157.95	-	-	-

(b) In our opinion and according to the information and explanations given to us and based on the audit procedures conducted by us, we are of the opinion that the terms and condition of the loan given are, prima facie, not prejudicial to the interest of the company.

(c) In our opinion and according to the information and explanations given to us and on the basis of our examination of the records of the Company, in the case of loans given by the Company, which are repayable on demand, the repayment of principal amounts and/or receipts of interest is made as and when the demanded by the Company.

(f) In our opinion and according to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company has given loans during the year to other parties and to its related parties, the details of which are given below:

(Amount in INR Lakhs)

Particulars	All Parties	Promoters Related Parties
Aggregate amount of loan / advances in the nature of loans
Repayable on demand (a)	1,059.37	- 336.56
Agreement does not specify any terms of period of repayment (b)	-	--
Total (A + b)	1,059.37	- 351.56
Percentage to the total loans granted	100%	- 31.77%

*The aforesaid amounts reported are excluding interest accrued.

(d) According to information and explanations given to us and based on the audit procedures performed, in respect of loans granted and advances in the nature of loans provided by the Company which are repayable on demand, there is no overdue demand amount remaining outstanding as at the balance sheet date.

(e) According to information and explanations given to us, no loans granted by the Company have fallen due during the year; as stated in clause (d) above loans are payable on demand and during the year the Company has not demanded such loan and/or interest.

Annexure A to Independent Auditors Report (contd.)

iv. I n our opinion and according to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company has complied with the provisions of Section 185 and 186 of the Act, with respect to loans, making investments, providing guarantees and securities, as applicable.

v. I n our opinion and according to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company has not accepted any public deposits as per the directives issued by the Reserve Bank of India in accordance with the provision of Sections 73 to 76 or any other relevant provision of the Act and rules framed thereunder. Accordingly, paragraph 3(v) of the Order is not applicable to the Company.

vi. I n our opinion and according to the information and explanations given to us by management, the Central Government has not prescribed the maintenance of cost records under Section 148 (l) of the Act for any of the goods sold and service/

activities rendered by the Company. Accordingly, paragraph 3(vi) of the Order is not applicable to the Company.

vii. (a) In our opinion and according to the information and explanations given to us, the Company has generally been regular in depositing applicable undisputed statutory dues, including provident fund, employees state insurance, income tax, goods and service tax, wealth tax, service tax, custom duty, duty of excise, value added tax, cess and any other statutory dues to the appropriate authorities during the year.

According to the information and explanations given to us, no undisputed amounts payable in respect of provident fund, employees state insurance, income- tax, Goods and Services Tax, duty of customs, cess and other material statutory dues were in arrears as at 31/03/2025 for a period of more than six months from the date they became payable.

(b) According to the books of accounts and records of the Company and representation made available to us by the Company, following are the particulars of which have not been deposited on account of any disputes.

Nature of Statute	Nature of Dues	Amount (Rs. in Lakhs)	Amount paid under protest (in Lakhs)	Period to which the amount relates	Forum where dispute is pending	Remarks, if any
The Income Tax Act, 1961	Income Tax	41.85	-	AY 2019-20	Assessing Officer	-
The Income Tax Act, 1961	Income Tax	223.42	-	AY 2018-19	Commissioner of Income Tax	-

viii. According to the information and explanations given to us and on the basis of our examination of the records of the Company, there are no unrecorded transactions in the books of account, surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961.

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

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

(c) In our opinion and according to the information and explanations given to us by the management, the Company has not availed any loans during the year. As regards outstanding term loans at the beginning of the year, the same were applied by the Company for the purposes for which the loans were obtained.

(d) In our opinion and according to the information and explanations given to us and on an overall examination of the balance sheet of the Company, we report that no funds have been raised on short-term basis by the Company, and have been utilised for long-term purposes.

(e) In our opinion and according to the information and explanations given to us and on an overall examination of the financial statements of the Company, we report that the Company has not taken any funds from any entity or person on account of or to meet the obligations of its subsidiaries as defined under the Companies Act, 2013. Accordingly, clause 3(ix)(e) of the Order is not applicable.

(f) In our opinion and according to the information and explanations given to us and procedures performed by us, we report that the Company has not raised loans during the year on the pledge of securities held in its subsidiaries as defined under the Companies Act, 2013. Accordingly, clause 3(ix)(f) of the Order is not applicable.

x. (a) The Company has not raised any moneys by way of initial public offer or further public offer (including debt instruments). Accordingly, clause 3(x)(a) of the Order is not applicable.

(b) In our opinion and according to the information and explanations given to us and based on our examination of the records of the Company, the Company has not made any preferential allotment / private placement of shares / fully / partly / optionally convertible debentures during the year. Accordingly, the provisions stated under clause 3(x)(b) of the Order are not applicable to the Company.

xi. (a) Based on examination of the books and records of the Company and according to the information and explanations given to us, considering the principles of material outlined in Standard on Auditing, we report that no fraud by the Company or on the Company has been noticed or reported during the course of the audit.

(b) In our opinion and according to the information and explanations given to us, no report under sub-section (12) of Section 143 of the Companies Act, 2013 has been filed by the auditors in Form ADT-4 as prescribed under Rule 13 of Companies (Audit and Auditors) Rules, 2014 with the Central Government.

(c) In our opinion and according to the information and explanations given to us, the Company has not received any whistle blower complaints during the year.

xii. In our opinion and according to the information and explanations given to us, the Company is not a Nidhi Company. Accordingly, clause 3(xii) of the Order is not applicable.

xiii. In our opinion and according to information and explanations given to us, all transactions with the related parties are in compliance with Sections 177 and 188 of the Act where applicable and the details of such transactions have been disclosed in the Standalone Financial Statements as required by the applicable accounting standards.

xiv. (a) In our opinion and according to information and explanations provided to us and based on our audit procedures, the transferee Company has an internal audit system commensurate with the size and nature of its business. Internal Audit is not applicable to the transferor company as reported by the other auditor.

(b) We have considered the internal audit reports of the Company issued till date for the period under audit.

xv. In our opinion and according to information and explanations given to us, in our opinion during the year the Company has not entered into any non-cash transactions with its directors or persons connected with its directors. Accordingly, clause 3(xv) of the Order is not applicable to the Company.

xvi. (a) The Company is not required to be registered under Section 45-IA of the Reserve Bank of India Act, 1934. Accordingly, clause 3(xvi)(a) of the Order is not applicable.

(b) The Company is not required to be registered under Section 45-IA of the Reserve Bank of India Act, 1934. Accordingly, clause 3(xvi)(b) of the Order is not applicable.

(c) The Company is not a Core Investment Company (CIC) as defined in the regulations made by the Reserve Bank of India. Accordingly, clause 3(xvi)(c) of the Order is not applicable.

Annexure A to Independent Auditors Report (contd.)

(d) In our opinion and according to the information and explanations provided to us during the course of audit, the Group does not have any CIC. Accordingly, the requirements of clause 3(xvi)(d) are not applicable.

xvii. Based on the overall review of Standalone Financial Statements, the Company has not incurred cash losses in the current and in the immediately preceding financial year. Accordingly, the requirements of clause 3(xvii) of the Order is not applicable.

xviii. There has been resignation of the statutory auditor during the year and based on the communication with the outgoing auditor, we have not come across any issues, objections or concerns raised by the outgoing auditor.

xix. In our opinion and according to the information and explanations given to us and on the basis of the financial ratios, ageing and expected dates of realisation of financial assets and payment of financial liabilities, other information accompanying the Standalone Financial Statements, our knowledge of the Board of Directors and management plans and based on our examination of the evidence supporting the assumptions, nothing has come to our

attention, which causes us to believe that any material uncertainty exists as on the date of the audit report that the Company is not capable of meeting its liabilities existing at the date of balance sheet as and when they fall due within a period of one year from the balance sheet date. We, however, state that this is not an assurance as to the future viability of the Company. We further state that our reporting is based on the facts up to the date of the audit report and we neither give any guarantee nor any assurance that all liabilities falling due within a period of one year from the balance sheet date, will get discharged by the Company as and when they fall due.

xx. I n our opinion and according to the information and explanations given to us, there is no unspent amount under sub-section (5) of Section 135 of the Companies Act, 2013 pursuant to any project. Accordingly, clauses 3(xx)(a) and 3(xx)(b) of the Order are not applicable.

xxi. The reporting under paragraph 3(xxi) of the Order is not applicable in respect of audit of Standalone Financial Statements. Accordingly, no comment in respect of the said paragraph has been included in the report.

For Chokshi & Chokshi LLP Chartered Accountants Firm Reg. No. 101872W/W100045

Amrish Thakker Partner

Membership No.: 123069 UDIN: 25123069BMKSUM4917

Place : Navi Mumbai Date : 14/11/2025

(Referred to in paragraph 13(f) under Report on Other Legal and Regulatory Requirements section of our report to the members of Trejhara Solutions Limited of even date.)

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

1. We have audited the internal financial controls with reference to Standalone Financial Statements of Trejhara Solutions Limited (the Company) as of 31/03/2025 in conjunction with our audit of the Standalone Financial Statements of the Company for the year ended on that date.

Opinion

2. In our opinion, to the best of our information and according to the explanations given to us, the Company has maintained, in all material respects, an adequate internal financial controls system with reference to the Standalone Financial Statements and such internal financial controls with reference to financial statements were operating effectively as at 31/03/2025, based on the internal financial control with reference to Standalone Financial Statements 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 ICAI.

Managements Responsibility for Internal Financial Controls

3. The Companys management and Board of Directors are responsible for establishing and maintaining internal financial controls based on the internal control with reference to financial statements criteria established by the Company considering the essential components of internal control stated in the Guidance Note. These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct of its business, including adherence to the Companys policies, 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 Act.

Auditors Responsibility

4. Our responsibility is to express an opinion on the Companys internal financial controls with reference to the Standalone Financial Statements based on our audit. We conducted our audit in accordance with the Guidance Note issued by ICAI and the Standards on Auditing (SAs), prescribed under section 143(10) of the Act to the extent applicable to an audit of internal financial controls with reference to the Standalone Financial Statements. Those SAs and the Guidance Note require that we comply with the ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls with reference to the Standalone Financial Statements were established and maintained and whether such controls operated effectively in all material respects.

5. Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system with reference to the Standalone Financial Statements and their operating effectiveness. Our audit of internal financial controls with reference to the Standalone Financial Statements included obtaining an understanding of internal financial controls with reference to the Standalone Financial Statements, 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.

6. We believe that the audit evidence we have obtained and the audit evidence obtained by the other auditors, in terms of their reports referred to in the Other Matters paragraph below, is sufficient and appropriate to provide a basis for our audit opinion on the internal financial controls system with reference to Standalone Financial Statements of the Company.

Annexure B to Independent Auditors Report (contd.)

Meaning of Internal Financial Controls with reference to the Standalone Financial Statements

7. A companys internal financial controls with reference to the Standalone Financial Statements is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of the Standalone Financial Statements for external purposes in accordance with generally accepted accounting principles. A Companys internal financial controls with reference to the Standalone Financial Statements include those policies and procedures that-

i. pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company;

ii. provide reasonable assurance that transactions are recorded as necessary to permit preparation of Standalone Financial Statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the Company are being made only in accordance with authorisations of management and directors of the company; and

iii. provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the companys assets that could have a material effect on the Standalone Financial Statements.

Inherent Limitations of Internal Financial Controls with reference to the Standalone Financial Statements

8. Because of the inherent limitations of internal financial controls with reference to the Standalone Financial Statements, 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 with reference to the Standalone Financial Statements to future periods are subject to the risk that the internal financial controls with reference to the Standalone Financial Statements may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Other Matters

9. I n so far as our reporting under Section 143(3) (i) of the Act on the adequacy and operating effectiveness of internal financial controls with reference to the Standalone Financial Statements relates to the Transferor Company, we have placed reliance on the report of the then statutory auditor of the Transferor Company dated 18/07/2025, who had expressed an unmodified opinion on such internal financial controls. Our report on internal financial controls, to that extent, is based solely on the said auditors report. Our opinion is not modified in respect of this matter.

For Chokshi & Chokshi LLP Chartered Accountants Firm Reg. No. 101872W/W100045

Amrish Thakker Partner

Membership No.: 123069 UDIN: 25123069BMKSUM4917

Place : Navi Mumbai Date : 14/11/2025