ఆడిటర్ నివేదిక Mansoon Trading Company Ltd.

Mar 31, 2024

We have audited the Financial Statements of Mansoon Trading Company Limited
(hereinafter referred to as "the Company"), which comprise the Balance Sheet as at March
31, 2024, and the Statement of Profit and Loss including Other Comprehensive Income, the
Cash Flow Statement and the Statement of Changes in Equity for the year then ended and
Notes to die Financial Statements, including a summary of Significant Accounting Policies
and other explanatory information (collectively referred to as ''Financial Statements'').

Opinion

In our opinion and to the best of our information and according to the explanations given to
us, the aforesaid Financial Statements give the information required by the Companies Act,
2013 (hereinafter referred to as "the Act") in the manner so required and give a true and fair
view in conformity with the accounting principles generally accepted in India, of the State of
affairs of the Company as at March 31, 2024 and its Profit, Total Comprehensive Income, its
Cash flows and the 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 Auditor⁷s 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 together with the ethical requirements that are
relevant to our audit of the Financial Statements under the provisions of the Act and the
Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with
these requirements and the Code of Ethics. We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a basis for our opinion.

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 for the year ended March 31, 2024. These
matters were addressed in the context of our audit of the Financial Statements as a whole
and in forming our opinion thereon and we do not provide a separate opinion on these
matters.

Other Information

The Company''s Board of Directors is responsible for the other information. The other
information comprises the information included in the annual report, but does not include
the Financial Statements and our auditor''s report thereon.

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

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

The Company''s Board of Directors is responsible for the matters stated in section 134(5) of
the Act with respect to the preparation of these Financial Statements that give a true and fair
view of the financial position, financial performance including Other Comprehensive
Income, Cash Flows and Changes in Equity of die Company in accordance with the Ind AS
and other accounting principles generally accepted in India, including the accounting
Standards specified under Section 133 of the Act. This responsibility also includes
maintenance of adequate accounting records in accordance with the provisions of the Act for
safeguarding of the assets of die Company and for preventing and detecting frauds and
other irregularities; selection and application of appropriate accounting policies; making
judgments and estimates that are reasonable and prudent; and design, implementation and
maintenance of adequate internal financial controls, that were operating effectively for
ensuring the accuracy and completeness of the accounting records, relevant to the
preparation and presentation of the Financial Statements that give a true and fair view and
are free from material misstatement, whether due to fraud or error.

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

Those Board of Directors are also responsible for overseeing die Company''s financial
reporting process.

Auditor''s Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the Financial Statements as
a whole are free from material misstatement, whether due to fraud or error, and to issue an
Auditor''s Report that includes our opinion. Reasonable assurance is a high level of
assurance, but is not a guarantee that an audit conducted in accordance with SAs will always
detect a material misstatement when it exists. Misstatements can arise from fraud or error
and are considered material if, individually or in the aggregate, they could reasonably be
expected to influence the economic decisions of users taken on the basis of these Financial
Statements.

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

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

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

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

¦ Conclude on the appropriateness of management''s use of die 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 Company⁷s
ability to continue as a going concern. If we conclude that a material uncertainty exists,
we are required to draw attention in our auditor''s report to the related disclosures in the
Financial Statements or, if such disclosures are inadequate, to modify our opinion. Our
conclusions are based on the audit evidence obtained up to the date of our auditor''s
report. However, future events or conditions may cause the Company to cease to
continue as a going concern.

• Evaluate the overall presentation, structure and content of the Financial Statements
including the disclosures, and whether the Financial Statements represent the
underlying transactions and events in a manner that achieves fair presentation.

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 evaluate the effect of any identified
misstatements in the Financial Statements.

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

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

From the matters communicated with those charged with governance, we determine those
matters that were of most significance in the audit of the Financial Statements of the current
period and are therefore the key audit matters. We describe these matters in our Auditor''s
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 (Auditor''s Report) Order, 2020 ("the Order") issued by
the Central Government of India in terms of Sub-section (11) of Section 143 of the Act
and on die basis of such checks of the books and records of the Company as we
considered appropriate and according to the information and explanations given to
us, we give in the Annexure-A a statement on the matters specified in paragraphs 3
and 4 of the Order, to the extent applicable to the Company during the year under
review.

2. Further to our comments in the Annexure referred to in para 1 above, as required by
Section 143(3) of the Act, we report as follows:

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 account as required by law have been kept by the
Company, so far as appears from our examination of those books;

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

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

e) On the basis of written representations received from the directors as on March
31, 2024, 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 other matters to be included in the Auditor''s Report in
accordance with the requirements of Section 197 of the Act, as amended, the
remuneration paid by the Company to its directors during die year under review
was within the provisions of the Act;

g) 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;

h) With respect to the other matters to be included in the Auditor''s Report in
accordance with the Rule 11 of the Companies (Audit and Auditors) Rules, 2014,
in our opinion and to die best of our information and according to the
explanations given to us, we further report that;

i) The Company does not have any pending litigations which would impact its
financial position other than those mentioned in notes to accounts.

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

iii) There were no amounts which were required to be transferred to the
Investors Education and Protection Fund by the Company.

iv) (a) As per the information and explanations given to us by the management,

no funds have been advanced or loaned or invested (either from borrowed
funds or securities premium or any other sources or kind of funds) by the
Company to or in any other person or entity, including foreign entities
("Intermediaries"), with the understanding, whether recorded in writing or
otherwise, that die 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; and

(b) As per the information and explanations given to us by the management,
no funds have been received by the Company from any person or entity,
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") or provide any guarantee, security or the like on
behalf of the Ultimate Beneficiaries.

(c) On the basis of above representations, nothing has come to our notice that
has caused us to believe that the above representations contained any
material mis-statement.

v) The Company has not declared or paid any dividend during the year.

vi) Based on our examination, which included test checks, and other generally
accepted audit procedures performed by us, we report that the company has used
an accounting software for maintaining its books of account which has a
feature of recording audit trail (edit log) facility. However, die same has not
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 audit trail feature being tampered with.

As provision 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 of record retention is not applicable for the financial year ended
March 31, 2024.

For S K H D & Associates

Chartered Accountants
Firm Registration No. 105929 W

Sd/-

Hemanshu Solanki
Partner

Membership No. 132835
UDIN: 24132835BKGVRG8779

Mumbai, dated 29^th May 2024

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Mar 31, 2014

We have audited the attached financial statements of Mansoon Trading Company Limited (hereinafter referred to as the Company), comprising of the Balance Sheet as at 31st March 2014, the Statement of Profit and Loss and the Cash Flow Statement for the year ended along with the Significant Accounting Policies and other explanatory information forming an integral part thereof.

II. Management''s Responsibility for the Financial Statements

Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the Accounting Standards referred to in Section 211 (3C) of the Companies Act, 1956 (hereinafter referred to as the Act), read with General Circular 15/2013 dated 13th September 2013 of the Ministry of Corporate Affairs in respect of Section 133 of the Companies Act, 2013 and in accordance with the accounting principles generally accepted in India. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

III. Auditors'' Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the Auditor''s judgment, including assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Company''s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing opinion on the effectiveness of the Company''s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by the management, as well as evaluating the overall financial statement presentation.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a reasonable basis for our audit opinion

IV. Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor''s Report) Order, 2003 as amended by the Companies (Auditor''s Report) (Amendment) Order, 2004 issued by the Central Government of India in terms of sub-section (4A) of Section 227 of the Act, we enclose in the Annexure a statement on the matters specified in paragraph 4 of the said Order, to the extent applicable to the Company during the year under review.

2. Further to our comments in the Annexure referred to in 1. above as per the requirements of Section 227(3) of the Act, we report as follows:

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

(b) In our opinion, proper books of account as required by law have been kept by the Company so far as appears from our examination of those books;

(c) The Balance Sheet, the Statement of Profit and Loss and the Cash Flow Statement dealt with by this report are in agreement with the books of account;

(d) In our opinion, the Balance Sheet, Statement of Profit and Loss and the Cash Flow Statement dealt with by this report comply with the Accounting Standards referred to in subsection (3C) of Section 211 of the Act read with the General Circular 15/2013 dated 13th September, 2013 of the Ministry of Corporate Affairs in respect of Section 133 of Companies Act, 2013;

(e) On the basis of written representations received from the respective directors as on 31st March 2014 and taken on record by the Board of Directors, none of the directors is disqualified as on 31st March 2014 from being appointed as a director in terms of clause (g) of sub-section (1) of Section 274 of the Act;

V. Opinion

In our opinion and to the best of our information and according to the explanations given to us, the financial statements give the information required by the Act, in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India;

(a) In the case of the Balance Sheet, of the state of affairs of the Company as at 31st March 2014;

(b) In the case of the Statement of Profit and Loss, of the Profit of the Company for the year ended on that date; and

(c) In the case of the Cash Flow Statement, of the Cash flows of the Company for the year ended on that date.

Annexure to the Auditors'' Report

(Referred to in Paragraph IV (1) of our Report of Even Date)

In terms of the information and explanations given to us and the books and records examined by us and on the basis of such checks as we considered appropriate, we further report as under:

1. Fixed Assets:

The Company does not have any fixed assets during the year under review.

2. Inventories

— The Company does not have inventories at any time during the year.

3. Loans to and from parties covered under Section 301 of the Act

The Company has neither taken nor granted any loans from/ to parties covered in the register maintained under Section 301 of the Act.

4. Internal Control

In our opinion and according to the information and explanations given to us, there are adequate internal control procedures commensurate with the size of the Company and nature of its business with regard to provision of services. During the course of our audit, we have not come across any continuing failure to correct major weaknesses in the prevailing internal controls.

5. Transactions with parties covered under Section 301 of the Act

Based on the records verified by us and on the explanations and information made available to us, no transactions have been made by the Company with the parties covered in the Register maintained under section 301 of the Act during the year, each aggregating to amount exceeding Rs.5 lacs per annum.

6. Public Deposit

The Company has not accepted any deposits from the pubic within the purview of directives issued by the Reserve Bank of India and the provisions of sections 58A and 58AA of the Act and the rules framed there under.

7. Internal Audit

The Company does not have a formal internal audit system at any time during the year under review.

8. Cost Records

We have been explained that the Central Government has not prescribed for the maintenance of cost records under Section 209 (l)(d) of the Act, in respect of the class of the Company. ^

9. Statutory Dues

As per the financial and other records verified by us, the Company is regular in depositing undisputed statutory dues in respect of Income-tax dues with the appropriate authorities and there are no undisputed dues in respect of the same outstanding for a period exceeding six months as at the close of the year.

Considering the present operations of the Company, there can be no liability on account of Excise Duty, Sales Tax, Service Tax, Customs Duty, ESIC, and Cess. As explained to us, there were no dues arising to the Company in respect of the Investor Education and Protection Fund and Wealth Tax during the year.

As per the records and based on the explanation given to us, following are the disputed Income tax dues of the Company as at the close of the year.

Statute Nature of Dues Amount (Rs.) Period (A.Y.) Forum

Income Tax Income Tax and 505.03 Lacs 2011-12 Commissioner Act, 1961 Interest of Income Act,1961 Mumbai (5)

10. Accumulated losses

There were no accumulated losses with the Company during the year. Also the Company has not incurred any cash losses during the current year or in the immediately preceding year.

11. Loans against pledge of securities

During the year, the Company has not granted any loans and/or advances on the basis of security by way of pledge of shares, debentures and other securities to any party.

12. Dues to Financial Institutions/Banks/Debenture Holders .

The Company has not given any guarantee in respect of loans/facilities availed by group companies/ parties from Banks/financial institutions.

13. Term Loans

Based on our verification of the books of accounts, during the year, the Company has not raised any term loans from banks / financial institutions.

14. Guarantees given

As per the records verified by us, during the year, the Company has not given any guarantee for loans taken by others from banks or financial institutions.

15. Preferential Allotment

During the year under review, the Company has not made any preferential allotment of its equity shares to parties and/or to concerns ought to be listed in the Register maintained under Section 301 of the Act.

16. Debentures

No debentures have been issued by the Company during the year under review and hence the question of creation of charge is not applicable.

17. Public Issue

The Company has not raised any money through public issue during the year under review.

18. Frauds:

Based upon the audit procedures performed for the purpose of reporting the true and fair view of the financial statements and as per the information and explanations given by the management, we report that no fraud on or by the Company has been noticed or reported during the course of our audit..

19. Other Clauses:

Other Clauses of the said order are not applicable to the Company during the year under review.

For Shyam Malpani & Associates Chartered Accountants

Firm Registration No. 120438 W

Shyam Malpani Proprietor Membership No. F- 34171

Mumbai, dated 30th June 2014