Trigyn Technologies Ltd Auditor Reports

Information other than the Standalone Ind AS Financial Statements and Auditors Report Thereon.

The Companys Board of Directors is responsible for the preparation of the other information. The other information comprises the information included in the Management Discussion and Analysis, Boards Report including annexures to Boards Report, Business Responsibility Report, Corporate Governance and Shareholders Information, but does not include the Standalone Ind AS Financial Statements and our Auditors Report thereon.

Our opinion on the Standalone Ind AS 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 Ind AS 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 Ind AS Financial Statements, or our knowledge obtained during the course of our audit, or otherwise appears to be materially misstated.

If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Responsibilities of Management and Those Charged with Governance for the Standalone Ind AS 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 of these standalone financial statements that give a true and fair financial position, financial performance, total comprehensive income, changes in equity and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the Indian Accounting Standards (Ind

AS) specified under Section 133 of the Companies Act 2013 ("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 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 Ind AS Financial Statements, the Board of Directors 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 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 are also responsible for overseeing the companys financial reporting process.

Auditors Responsibility for the Audit of the Standalone Ind AS Financial Statements.

Our objectives are to obtain reasonable assurance about whether the Standalone Ind AS 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 aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Standalone Ind AS Financial Statements. As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also: o Identify and assess the risks of material misstatement of the Standalone Ind AS 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 controls. o Obtain an understanding of internal controls relevant to the audit in order to design audit procedures that are appropriate in the circumstances. We are also responsible for expressing our opinion on whether the Company has an adequate internal financial control system in place and the operating effectiveness of such controls. o Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

o 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 ability of the Company to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors report to the related disclosures in the Standalone Ind AS 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. o Evaluate the overall presentation, structure and content of the Standalone Ind AS Financial Statements, including the disclosures, and whether the Standalone Ind AS Financial Statements represent the underlying transactions and events in a manner that achieves fair presentation.

Materiality is the magnitude of misstatements in the Standalone Ind AS Financial Statements that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the Standalone Ind

AS Financial Statementsmaybeinfluenced,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 Ind AS Financial Statements.

We also communicate with those charged with governance regarding, among other matters, the planned scope and timing of the significantaudit findings, includinganysignificantdeficiencies in internal controls that we identify and 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 Ind AS Financial Statements of the current period and are therefore the Key Audit Matters. We describe these matters in our Auditors Report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

Report on Other Legal and Regulatory Requirements

1. 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 A" a statement on the matters specified in paragraphs 3 and 4 of the Order, to the extent applicable.

2. 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 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.

(c) The Standalone Balance Sheet, the Standalone Statement of Profit and Loss, the Standalone Statement Cash

Flows and Standalone Statement of Changes in Equity dealt with by this report are in agreement with the Books of Account.

(d) In our opinion, the aforesaid Standalone Ind AS Financial Statements comply with the Indian Accounting

Standards (Ind AS) specified under Section 133 of the Act, read with The Companies (Indian Accounting

Standards) Rule, 2015, as amended;

(e) On the basis of the written representations received from the Directors as on 31^st March, 2024 taken on record by the Board of Directors, none of the directors is disqualified as on 31^st March, 2024 from being appointed as a director in terms of Section 164(2) of the Companies Act, 2013.

(f) With respect to the adequacy of the Internal Financial Controls over Financial Reporting of the Company and the operating effectiveness of such controls, refer to our separate report in "Annexure B" and

(g) 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 disclosed the impact of pending litigations on its financial position in its Standalone Ind

AS Financial Statements – Refer Note 35 to the Standalone Ind AS Financial Statements. ii. The Company has made provisions, as required under the applicable law or accounting standards, for material foreseeable losses on long-term contracts and the company did not have any derivative contracts. iii. The Company has no amount that is required to be transferred to the 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(s) or entity(ies), including foreign entity(ies) ("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 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(s) or entity(ies), including foreign entity(ies) (" 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 Ultimate beneficiaries;

(c) Based on the audit procedures that have been considered reasonable and appropriate in the circumstances, nothing has come to our notice that has caused us to believe that the representations under sub-clause (i) and (ii) of Rule 11(e), as provided under (a) and (b) above, contain any material misstatement. v. The company has not declared or paid any dividend during the year. vi. Based on our examination, which included test checks, the Company has used accounting software for maintaining its books of account for the financial year ended 31^st March, 2024, which has a feature of recording audit trail (edit log) facility and the same has operated throughout the year for all relevant transactions recorded in the software. Further, during the course of our audit we did not come across any instance of the audit trail feature being tampered with.

As proviso to Rule 3(1) of the Companies (Accounts) Rules, 2014 is applicable from April 1, 2023, reporting under Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014 on preservation of audit trail as per the statutory requirements for record retention is not applicable for the financial year ended 31^st March, 2024. h) With respect to the matter to be included in the Auditors Report under Section 197(16) of the Act, in our opinion and according to the information and explanations given to us, the managerial remuneration for the year ended 31^st March, 2024, has been paid / provided by the Company to its directors in accordance with the provisions of section 197 read with Schedule V to the Act.

"Annexure A" to the Independent Auditors Report of even date on Standalone Ind AS Financial Statements of Trigyn Technologies Limited

(Refer to in paragraph 1 under ‘Report on Other Legal and Regulatory Requirements section of our report of even date) Report 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 Companies Act, 2013.

With reference to the Annexure A referred to in the Independent Auditors Report to the members of the Company on the

Standalone Ind AS Financial Statements for the year ended 31^st March, 2024, we report the following:

(i) In respect of Companys Property, Plant & 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 and Investment Properties.

B) The Company has maintained proper records showing full particulars of Intangible Assets. b) The Property, Plant and Equipment have not been physically verified by the management during the year as the Company is still operating remotely since the breakdown of COVID-19 pandemic. c) According to the information and explanations given to us and on the basis of our examination of the records of the Company, (other than Properties where the Company is the lessee and the lease agreements are duly executed in the name of the Company) the title deeds of the immovable properties are in the name of the company. d) 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 during the year. e) According to the information and explanations given to us and on the basis of our examination of the records of the Company, no proceedings have been initiated or are pending against the Company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder. (ii) (a) According to the information and explanations given to us and on the basis of our examination of the records of the Company, physical verification of inventory has been conducted at reasonable intervals by the management and the coverage and procedure of such verification by the management is appropriate. No material discrepancies were noticed on verification between the physical stocks and book records that were

10% or more in the aggregate for each class of inventory.

(b) 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 sanctioned working capital limits in excess of five crore rupees in aggregate from Banks/Financial Institutions on the basis of security of Current Assets.

(iii) 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 provided anyguaranteeorsecuritytocompanies,firms,limited liability partnerships or any other parties. During the year, the Company has made investments and has granted unsecured interest-free loans or advances in the nature of loans, to companies, firms, limited liability partnerships or any other parties a) 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 provided any guarantee or security to companies, firms, limited liability partnerships or any other parties. The Company has granted unsecured interest-free loans or advances in the nature of loan to its wholly owned subsidiary during the year.

A) During the year, the Company has incurred expenditure on behalf of its wholly owned subsidiary, which is treated as advance in the nature of loan. The aggregate amount of such advance incurred during the year is 11.24 lakhs. Outstanding balance as on 31st March, 2024 is 2,273.81 lakhs with respect to all subsidiaries. Loan relating to subsidiaries whose net worth has been fully eroded and 2 step-down subsidiaries (which were wound up in earlier years) have been fully provided in the Standalone Ind AS Financial Statements amounting to 2,244.49 lakhs.

B) During the year, the Company has not provided any loans or advances and guarantees or security to parties other than subsidiaries, joint ventures and associates. b) According to the information and explanation given to us and based on the audit procedures conducted by us, in our opinion, investments made and the terms and conditions of the interest-free loans provided are, prima facie, not prejudicial to the interest of the Company. c) According to the information and explanation given to us and on the basis of our examination of the records of the Company, in the case of loans given, there is no stipulation of schedule of repayment of interest and accordingly we are unable to comment on the regularity of the repayment of principal and payment of interest. d) According to the information and explanation given to us and on the basis of our examination of the records of the Company, there is no overdue amount for more than ninety days in respect of loan given as there is no repayment schedule. e) According to the information and explanation given to us and on the basis of our examination of the records of the Company, there are no loans or advances in the nature of loans granted falling due during the year, which has been renewed or extended or fresh loans granted to settle the overdue of existing loans given to same parties. f) The Company has granted advances in the nature of loans to its wholly owned subsidiaries during the year and also in earlier years. These loans do not specify any terms or period of repayment. The total amounts outstanding with regards to its subsidiaries and 2 step-down subsidiaries (which were wound up in earlier years), is 2,273.81 lakhs as on 31st March 2024. This constitutes 100% of the total loans granted by the Company. Loan with respect to 2 subsidiaries whose net worth has fully eroded and 2 step-down subsidiaries

(which were wound up in earlier years), are fully provided in the standalone financial statements amounting to

2,244.49 lakhs.

(iv) According to the information and explanation 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 Companies Act, 2013. (v) According to the information and explanation given to us and on the basis of our examination of the records of the Company, the Company has not accepted any deposits from public in contravention of directives issued by the Reserve Bank of India and the provisions of section 73 to 76 or any other relevant provisions of the Companies Act, 2013 and the rules made thereunder.

(vi) According to the information and explanation given to us and on the basis of our opinion, the Central Government has not specified the maintenance of cost records under Section 148(1) of the Companies Act, 2013, for any of the products/services of the Company.

(vii) According to the information and explanations given to us in respect of statutory dues: a) The Company has generally been regular in depositing undisputed statutory dues, including Income Tax,

(viii) According to the information and explanation given to us and on the basis of our examination of the records of the Company, 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.

(ix) a) According to the information and explanation given to us and on the basis of our examination of the records of the Company, the Company has not defaulted in repayment of loans and borrowings or in the payment of interest thereon to any lender during the year. b) According to the information and explanation 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) According to the information and explanation given to us and on the basis of our examination of the records of the Company, the Company did not have any the money obtained by way of term loan during the year. Accordingly, the requirements of clause 3(ix)(c) of the Order is not applicable to the Company. d) According to the information and explanation given to us and on an overall examination of the Standalone Ind AS Financial Statements of the Company, no fund has been raised on short term basis which have been used for long-term purposes by the Company. e) According to the information and explanation given to us and on an overall examination of the Standalone Ind AS Financial Statements of the Company, the Company has not taken any funds from any entity or person on account of or to meet the obligation of its subsidiaries, associates or joint ventures, accordingly clause 3(ix) e of the Order is not applicable. f) According to the information and explanation given to us by the management and procedures performed by us, the Company has not raised any loans during the year on the pledge of securities held in its subsidiaries, joint ventures or associate companies. Accordingly, clause 3(ix) (f) of the order is not applicable.

(x) a) According to the information and explanations given by the management and the audit procedures performed, the Company has not raised money by way of initial public offer or further public offer (including debt instruments). Accordingly, clause 3(x)(a) of the order is not applicable to the Company. b) According to the information and explanation given by the management, the Company has not made any preferential allotment or private placement of shares or convertible debentures (fully, partially, or optionally convertible), Accordingly clause 3(x)(b) of the order is not applicable to the Company.

(xi) a) According to the information and explanation given by the management, no material fraud by the Company or any 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, 2013 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 upto the date of this report. c) The Company has not received any whistle blower complaints.

(xii) In our opinion and according to the information and explanations given by the management, the Company is not a Nidhi Company. Therefore, the Clause 3 (xii) of the Order is not applicable to the Company.

(xiii) In our opinion and according to the information and explanations given by the management, all transactions with the related parties are in compliance with Section 177 & 188 of the Companies Act, 2013 and the details have been disclosed in the standalone financial statements . asrequired bythe applicable accounting standards

(xiv) a) According to the information and explanations given to us by the management the Company has an adequate internal audit system commensurate with the size and the nature of its business. b) We have considered the internal audit reports of the Company issued till date for the period under audit. (xv) According to the information and explanation given to us by the management, the Company has not entered into any non-cash-transactions with its directors or persons connected with its directors, hence provision of section 192 of the Companies Act, 2013 are not applicable to the Company.

(xvi) a. According to the information and explanations given to us by the management, 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 the Reserve

Bank of India. d. According to the information and explanations provided to us during the course of the audit, the Group does not have any CIC.

(xvii) As per the Standalone Ind AS Financial Statements of the Company for the year ended 31^st March, 2024, the

Company has not incurred any cash losses during the year and in immediately preceding financial year.

(xviii)There has been no resignation of Statutory Auditor of the company during the year.

(xix) According to the information and explanation 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 Ind AS 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 cause us to believe that any material uncertainty exist as on the date of the Audit Report that the Company is not capable of meeting its liabilities existing at date of Standalone 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 upto 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) As per the information and explanation provided to us, the Company has not spent the amount required under the CSR during the year and the management of the Company intends to transfer the unspent amount to a specified government fund within six months from the end of the financial year pursuant to the requirements of

Schedule VII to the Companies Act, 2013 read with second proviso to sub-section (5) of section 135 of the said act. b) As per the information provided to us by the management, the Company does not have any ongoing projects, hence this clause is not applicable.

(xxi) This is a standalone financial statement of the Company, Therefore the Clause 3 (xxi) of the Order is not applicable to the Company.

"Annexure B" to the Independent Auditors Report of even date on Standalone Ind AS Financial Statements of Trigyn Technologies Limited Report on 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 ofTrigyn Technologies Limited ("the company") as on 31^st March, 2024 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 Controls

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. These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and 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 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 judgment, including the assessment of the risks of material misstatement of the Standalone Ind AS Financial Statements, whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficientand appropriate to provide a basis for our audit opinion on the Companys Internal Financial Control 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 the Standalone Ind AS Financial Statement 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 reflectthe transactions and dispositions of the assets of the Company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of the Standalone Ind AS Financial Statements in accordance with generally accepted accounting principles in India, 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 Standalone Ind AS 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 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