Yogi Ltd Auditor Reports

To

The Members,

Yogi Limited Mumbai

Report on the Audit of Ind AS Financial Statements Opinion

We have audited the accompanying Ind AS financial statements of Yogi Limited (The Company), which comprise the Balance Sheet as at March 31, 2024, the Statement of Profit and Loss (Including Other Comprehensive

Income), the Cash Flow Statement, the Statement of Changes in Equity and Notes to the Ind AS Financial

Statement for the year then ended including a summary of significant accounting policies and other explanatory information (Hereinafter referred to as the "Ind AS Financial Statement").

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid

Standalone Ind AS financial statements give the information required by the Companies Act 2013 (The ‘Act) in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India including Indian Accounting Standards(‘Ind AS) specified under Section 133 of the Act, of the state of affairs (financial position) of the Company as at March 31, 2024, its financial

(including other Comprehensives income) , Cash Flows and changes in equity for the year ended on that date.

Basis for Opinion

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 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 Ind As Financial Statements under the provisions of the Act and the Rules there-under, and we have fulfilled our ethical responsibilities in accordance with these requirements and the Code of the Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion on the financial statements.

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the financial statements of the current period. These matters were addressed in the context of our financial statements as a whole, and in forming our opinion thereon and we do not provide a separate opinion thereon.

We have determined the matter described below to be the key audit matters to be communicated in our audit report.

Key Audit Matters	How our audit addressed the key audit matters
The Company applies Ind AS 115 for recognition of revenue from real estate projects. The revenue from real estate projects is recognized at a point in time upon the Company satisfying its performance obligation and the customer obtaining control of the underlying asset, which involves significant estimates and judgement	Our audit procedures included, among others, the following:
For contracts involving sale of real estate inventory property, the Company receives the consideration in accordance with the terms of the contract based on progress made for completion of such real estate projects.	We have read the accounting policy for revenue recognition and assessed compliance of the policy in terms of principles enunciated under Ind AS 115.
Application of Ind AS 115 involves significant judgment in determining when ‘control of the real estate of property is transferred to the customer	We assessed managements evaluation of determining revenue recognition from sale of real estate property at a point in time in accordance with the requirements under Ind AS 115.
As the revenue recognition involves significant estimates and judgement, we regard this as a key audit matter.	We obtained and understood the revenue recognition process and performed test of controls over revenue recognition including determination of point of transfer of control, completion of performance obligations
	We performed test of details, on a sample basis, and tested the underlying customer contracts and sale deed/ handover documents, evidencing the transfer of control of the asset to the customer based on which the revenue is recognized at a point of time.
	We tested the computation for recognition of revenue and managements assessment of stage of completion of projects and project cost estimates on test check basis.
	We assessed the disclosures made by management in compliance with the requirements of Ind AS 115
Assessing the carrying value of Inventory and advances paid towards land procurement
As at March 31, 2024, the carrying value of inventory is Rs. 5260.0 lakhs which included land cost of Rs . 3746.44 lakhs .	Our procedures in assessing the carrying value of the inventories and land advances/deposits included, among others, the following:
The inventories are carried at lower of cost and net realizable value (‘NRV). The determination of the NRV involves estimates based on prevailing market conditions and taking into account the estimated future selling price, cost to complete projects and selling costs.	We read and evaluated the accounting policies with respect to inventories and land advances/deposits
Advance paid during the course of transferring legal title of the land to the seller /intermediary towards out right purchases of land is recognized as land advance under other advances which is transferred to land cost under inventories upon transfer of title.	We assessed the Companys methodology applied in assessing the carrying value under the relevant accounting standards including current market conditions in assessing the net realizable value having regard to project development plan and expected future sales.
The aforesaid deposits and advances are carried at the lower of the amount paid/payable and net recoverable value, which is based on the managements assessment including the expected date of commencement and completion of the project and the estimate of sale prices and construction costs of the project.	We made inquiries with management with respect to inventory of properties on test check basis to understand key assumptions used in determination of the net realizable value/ net recoverable value.
We identified the assessment of the carrying value of inventory and land advances/deposits as a key audit matter due to the significance of the balance that involves estimates and judgement.	We enquired from the management regarding the project status and verifiedthe underlying documents for related developments in respect of the land acquisition, project progress and expected recoverability of advances paid towards land procurement on test check basis.
	We obtained and tested the computation involved in assessment of carrying value and the net realizable value/ net recoverable value on test check basis.

Information other than the Financial Statements and Auditors Report thereon

The Companys Board of Directors is responsible for the other information. The Other information comprises the information included in Management Discussion and Analysis, Boards Report including Annexures in the

Board Report and Shareholder information, but does not include the financial statements and our auditors report thereon.

Our opinion on the 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 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 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 concluded 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 Financial Statements.

The Companys Board of Director 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 Ind AS financial statements that give a true and fair view of the state of affairs (financial position), Profit/Loss (financial performance) (Including Other Comprehensive Income) and changes in the Equity and cash flows of the Company in accordance with the Accounting principles generally accepted in India, including the Ind AS specified under section 133 of the Act read with the Companies (Indian Accounting Standard) Rules 2015, as amended.

This responsibility also includes the 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 judgment 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 Ind AS financial are free from material misstatement, whether due to fraud or error.

In preparing the Ind AS 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 operation, or has no realistic alternative but to do so.

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

Company.

Auditors Responsibilities for the Audit of the Ind AS Financial Statements

Our objectives are to obtain reasonable assurance about whether the Ind AS Financial statements as whole are free from material misstatement, whether due to fraud or errors 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 Standards on Auditing will always detect a material misstatement when it exists. Misstatements can arise from fraud or errors 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 Ind AS financial statements.

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

? Identify and assess the risks of material misstatement of the Ind AS financial statements, whether due to fraud or errors, 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 the 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 financialcontrols 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 statements, or if such disclosures are inadequate to modify our opinion. Our conclusions IndASfinancial are based on the audit evidence obtained upto the date of audit report. However, future conditions or events may cause the Company to cease to continue as a going concern.

? Evaluate the overall presentation, structure and content of thefinancialstatements, including the disclosures, and whether the 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 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 evaluatetheeffectof 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 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 safeguard.

From the matters communicated with those charged with governance, we determine those matters that were of most significance in audit of 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 about public disclosures about the matters 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) issued by the Central Government of India in terms of Section 143(11) of the Act, we give in the Annexure A, a statement on the matters specified in paragraphs 3 and 4 of the Order.

2. Further to our comment in Annexure ‘A 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 purpose of our audit: b. In our opinion, proper books of account as required by law have been kept by the Company so far as it appears from our examination of those books. c. The Ind AS financial statements dealt with by this Report are in agreement with the books of account. d. In our opinion, the aforesaid Ind As Financial Statement comply with the Ind AS specified under section

133 of the Act, read with Companies (Indian Accounting Standards) Rules,2015 as amended.

e. On the basis of written representation received from the directors, and taken on record by the Board of

Directors, none of the directors is disqualified as on March 31, 2024, 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 refence to the Ind AS Financial Statements of the Company as on 31st March 2024 and operating effectiveness of such controls refer to our our report separate report in "Annexure B" wherein we have expressed an unmodified opinion; g. The reporting under Rule 11(g) of (Audit and Auditors) Rules, 2014 is applicable from 1 April 2023. Based on our examination which included test checks the Company has used accounting software for maintaining its books of account, which have 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, for the periods where audit trail (edit log) facility was enabled and operated throughout the, we did not come across any instance of the audit trail feature being tampered with. 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 explanation given to us:

1) The Company does not have any pending litigation as at 31st March,2024 which would impact its financial position.

2) The Company did not have any long term contracts including derivative contracts as at 31st March 2024 for which there were any material foreseeable losses.

3) There has been no delay in transferring amounts to the Investor Education and Protection Fund by the Company during the year ended on 31st March 2024.

4) i) The management has represented that, to the best of its knowledge and belief, other than as disclosed in the notes to the accounts, no funds 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 s h a l l , 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") guarantee, security or the like on behalf of the Ultimate Beneficiaries ii) The management has represented, that, to the best of its knowledge and belief, other than as disclosed in the notes to the accounts, no funds have been received by the company from any person(s) or entity(ies), including foreign entities ("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") on behalf of the Ultimate Beneficiaries; and iii) Based on audit procedures which we considered reasonable and appropriate in the circumstances, nothing has come to our notice that has caused us to believe that the representations under subclause (i) and (ii) contain any material misstatement.

5) The company has not declared or paid any dividend during the year in contravention of the provisions of section 123 of the Companies Act, 2013 i. 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 remuneration paid by the company to its director during the current year is in accordance with the provisions of section 197of the

Act. The remuneration paid to any director is not in excess of the limit laid down under section 197 of the Act. The Ministry of Corporate Affairs has not prescribed other details under Section 197(16) of the

Act which are required to be commented upon by us

FOR BKG & ASSOCIATES

Chartered Accountants Firm Reg. No.: 114852W

CA. Akshit Jain

(Partner)

M. No.: 170822

UDIN: 24170822BKFUDM4353

Place: Mumbai

Date: May 22, 2024

Annexure A to the Independent Auditors Report

(Referred to in paragraph 1 under "Report on Other Legal and Regulatory Requirements" of our report to the Members of Yogi Limited (‘the Company") for the year ended March 31, 2024)

1. In respect of its Fixed Assets:

(i) (a) The company is maintaining proper records showing full particulars, including quantitative details and situation of Property Plant and Equipments; (b) The Company does not have any intangible assets (ii) As explained to us, all the Property Plant and Equipment have been physicallyverifiedby the management during the year and no material discrepancies were identified on such verification. The frequency of physical verification is reasonable having regard to the size of the Company and nature of its business.

(iii) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the title deeds of immovable properties (other than immovable properties where the Company is the lessee and the lease agreements are duly executed in favour of the lessee) disclosed in the standalone financial statements are held in the name of the Company.

(iv) The Company has not revalued its Property, Plant and Equipment (including Right of use assets) or intangible assets during the year ended March 31, 2024.

(v) There are no proceedings initiated or are pending against the Company for holding any benami property under the Prohibition of Benami Property Transactions Act, 1988 and rules made thereunder

2. (a) In our opinion, the management has conducted physical verification of inventory at reasonable intervals during the year. In our opinion the coverage and procedure of such verification by the management is appropriate. As per the information given no material discrepancies were noticed on such verification. (b) The Company has not been sanctioned any working capital loan from any bank or financial institution.

3. According to the information and explanations given to us and on the basis of our examination of the records, the Company has not provided any guarantee or security, granted any loans or advances in the nature of loans, secured to companies, firms, limited liability partnerships or any other parties.

The Company has made investments in listed companies, mutual fund and has granted unsecured loans to other parties during the year, the Company has not provided any guarantee or security, granted any loans or advances in the nature of loans, secured to companies, firms, limited liability partnerships or any other parties. (a) With respect of the unsecured loans to other parties during the year, the requisite information is as below

Particulars	Amount Rs in lacs
(A) Aggregate amount Loans granted /provided during the year	1231.86
Subsidiary, Joint Ventures and Associates	-
Others	1231.86
(B) Balance outstanding as at Balance sheet date in respect of the above cases:
Subsidiary, Joint Ventures and Associates	-
Others	1525.87

(b) According to the Information and explanations given to us and in our opinion the terms and conditions of the investment and grant of loan is not prima facie pre-judicial to the interest of the company

(c) In respect of the aforesaid loan granted by the Company the schedule of repayment of principal and payment of interest has been stipulated and, in our opinion, the repayment of principal amounts and receipt of interest are as stipulated. (d) There are no overdue of loans granted by the company as at 31-03-2024.

(e) No loan or advances in the nature of the loan granted which has fallen due during the year has been renewed or extended or fresh loan granted to settle the over dues of existing loan given to the same parties.

(f) According to the information and explanation and on the basis of our examination of the records of the Company, in our opinion the Company has not granted any loans or any advances in the nature of loans either repayable on demand or without specifying any terms or period of repayment.

4. In our opinion and according to the information and explanation given to us the Company has complied with provisions of section 185 and 186 of the Companies Act in respect of loans, investments, guarantees and securities.

5. The Company has neither accepted any deposits from the public nor accepted any amounts which are deemed to be deposits within the meaning of sections 73 to 76 of the Companies Act and the rules made thereunder, to the extent applicable. Accordingly, the requirement to report on clause 3(v) of the Order is not applicable to the Company.

6. The Central Government of India has not prescribed the maintenance of cost records under sub-section 1 of section 148 of the Companies Act.

7. (a) According to the information and explanations given to us and records of the company examined by us the company has generally been regular in depositing liability towards undisputed statutory dues including Goods and Service Tax, Provident Fund, Employees State Insurance, Income tax, Sales Tax, Service Tax, Duty of Custom, Duty of Excise, Value added Tax, Cess and any other statutory dues, as applicable, with the appropriate authorities. There are no dues of income tax or wealth tax or service tax or duty of customs or duty of excise or value added tax, GST or Cess which were in arrears as at 31-03-2024 for a period of more than six months from the day they become payable.

(b) On the basis of our examination of the documents and records, the company does not have a disputed amount in respect of statutory dues referred in sub-clause(a) above.

8. The Company has not surrendered or disclosed any transaction, previously unrecorded in the books of account, in the tax assessments under the Income Tax Act, 1961 as income during the year. Accordingly, the requirement to report on clause 3(viii) of the Order is not applicable to the Company.

9. (a) The Company has not defaulted in repayment of loans or other borrowings or in the payment of interest thereon to any lender.

(b) The Company has not been declared willful defaulter by any bank or financial institution or other lender.

(c) The Term loans were applied for the purposes for which the loans were obtained during the year.

(d) On an overall examination of the financial statements of the Company, no funds raised on short-term basis have been used for long-term purposes by the Company.

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

(f) The Company does not hold any investment in any subsidiary, associate or joint venture (as defined under the Act) during the year ended 31 March 2024. Hence, the requirement to report on clause 3(ix) (f) of the Order is not applicable to the Company.

10. (a) The Company has not raised any money by way of an initial public offeror further Public offer (including debt instruments during the year) (b) During the year the Company has made preferential allotment of shares and share warrants. The requirement of section 42 and section 62 of the Companies Act 2013 have been complied with and the funds raised have been used for the purpose for which the funds were raised.

11. (a) No fraud by the Company or on the Company by its officers or employees has been noticed or reported during the period covered by our audit.

(b) During the year, no report under sub-section (12) of section 143 of the Companies Act,2013 has been filed by the cost auditor/secretarial auditor or by using Form ADT 4 as prescribed under Rule 13 of

Companies (Audit and Auditors) Rules, 2014 with the Central Government.

(c) As represented to us by the management, there are no whistleblower complaints received by the Company during the year 12. The Company is not a Nidhi Company. Hence reporting under clause 3(xii)(a)(b)(c) of the Order is not applicable. 13. In our opinion all the transactions with the related parties are in compliance with section 177 and 188 of the

Companies Act, 2013 where applicable, and the requisite details have been disclosed in the Ind AS financial statement etc. as required by the applicable accounting standards 14. (a) The Company has an internal audit system commensurate with the size and nature of its business.

(b) The internal audit reports of the Company issued till the date of the audit report, for the period under audit have been considered by us.

15. The Company has not entered into any non-cash transactions with its directors or persons connected with its directors and hence requirement to report on clause 3(xv) of the Order is not applicable to the Company 16. (a) The provisions of section 45-IA of the Reserve Bank of India Act, 1934 (2 of 1934) are not applicable to the Company. Accordingly, the requirement to report on clause (xvi)(a) of the Order is not applicable to the Company.

(b) The Company has not conducted any Non-Banking Financial or Housing Finance activities without obtaining a valid Certificate of Registration (CoR) from the Reserve Bank

Bank of India Act, 1934

(c) The Company is not a Core Investment Company, hence, the requirement to report on clause 3(xvi)(d) of the Order is not applicable to the Company. 17. The Company has incurred cash losses of Rs 51.43 Lakhs in the current year and it has incurred cash losses of Rs.40.23 during the immediately preceding financial year .

18. There has been no resignation of the statutory auditors during the year and accordingly requirement to report on Clause 3(xviii) of the Order is not applicable to the Company.

19. On the basis of the financial ratios disclosed in note to the financial statements, ageing and expected dates of realization of financial assets and payment of financial liabilities, other information accompanying the financial statements, our knowledge of the Board of Directors and management plans and based on our examination of the evidence supporting the assumptions, nothing has come to our attention, which causes us to believe that any material uncertainty exists as on the date of the audit report that Company is not capable of meeting its liabilities existing at the date of balance sheet as and when they fall due within a period of one year from the balance sheet date. We, however, state that this is not an assurance as to the future viability of the Company. We further state that our reporting is based on the facts up to the date of the audit report and we neither give any guarantee nor any assurance that all liabilities falling due within a period of one year from the balance sheet date, will get discharged by the Company as and when they fall due.

20. Since the threshold limits prescribed by section 135 are not reached, the Company is not required to Constitute Corporate Social Responsibility Committee and spend any amount on corporate social activity hence reporting under clause xx(a)and (b) of the Order are not applicable.

21. The Company has no subsidiary and no requirement of consolidation hence report on clause 3(xxi) of the Order is not applicable to the Company.

FOR BKG & ASSOCIATES

Chartered Accountants Firm Reg. No.: 114852W

CA. Akshit Jain

(Partner)

M. No.: 170822

UDIN: 24170822BKFUDM4353

Place: Mumbai

Date: May 22, 2024

ANNEXURE "B" TO THE INDEPENDENT AUDITORS REPORT of even date to the Members of Yogi Limited on the Ind AS Financial statement for the year ended 31^st March, 2024

Independent Auditors report on the Internal Financial Controls under clause(i)of Sub- section 3 of Section 143 of The Companies Act, 2013 (The" Act")

In conjunction with our audit of the Ind As financial Statements of Yogi Ltd (The Company) as at and for the year ended on March 31, 2024, we have audited the internal financial Controls over financial reporting (IFCoFR) of the Company as of 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 the internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial reporting (The "Guidance note") issued by the Institute of Chartered Accountants of India (ICAI). These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct of its business, including adherence to 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

(IFCoFR) based on our audit. We conducted our audit in accordance with the Standards on auditing, issued by the ICAI and deemed to be prescribed under section 143(10) of the Act, to the extent applicable to an audit of IFCoFR and Guidance Note issued by ICAI. 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 IFCoFR were 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 IFCoFR and their operating effectiveness. Our audit of IFCoFR included obtaining an understanding of IFCoFR, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness ofinternal 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 financialstatements, whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficientand appropriate to opinion on the Companys IFCoFR.

Meaning of Internal Financial Controls Over Financial Reporting

A companys IFCoFR 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 the Generally Accepted Accounting Principles. A companys IFCoFR includes those policies and procedures that:( i) pertain to the maintenance of records that, in reasonable details, accurately and fairly reflect the transaction and dispositions of the assets of the company; (ii) Provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with the 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 (iii) Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or dispositions 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 IFCoFR, 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 IFCoFR to future periods are subject to the risk that the IFCoFR 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, adequate internal financial controls system over financial reporting and such internal financial controls over financial reporting were operating effectively ^st March 2024, 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 issued by the ICAI.

FOR BKG & ASSOCIATES

Chartered Accountants Firm Reg. No.: 114852W

CA. Akshit Jain

(Partner)

M. No.: 170822

UDIN: 24170822BKFUDM4353

Place: Mumbai

Date: May 22, 2024