ఆడిటర్ నివేదిక Trejhara Solutions Ltd.

1. We have audited the accompanying Standalone
Financial Statements of Trejhara Solutions
Limited (''the Company''), which comprise the
Standalone Balance Sheet as at 31/03/2026 and
the Standalone Statement of Profit and Loss
(including Other Comprehensive Income), the
Standalone Statement of Changes in Equity and
the Standalone Statement of Cash Flows for
the year ended on that date, and notes to the
Standalone Financial Statements, including a
summary of material accounting policies and
other explanatory information (hereinafter referred
to as ''the Standalone Financial Statements'')

I n our opinion and to the best of our information
and according to the explanations given to us, the
aforesaid Standalone Financial Statements give
the information required by the Companies Act,
2013 (''the Act'') in the manner so required and give
a true and fair view in conformity with the Indian
Accounting Standards prescribed under section
133 of the Act read with the Companies (Indian
Accounting Standards) Rules, 2015, as amended,
(''Ind AS'') and other accounting principles
generally accepted in India, of the State of Affairs
of the Company as at 31/03/2026 and its profit and
Other Comprehensive Income, Changes in Equity
and its Cash Flows for the year ended on that date.

Basis for Opinion

2. We conducted our audit in accordance with the
Standards on Auditing (''SAs'') specified under
section 143(10) of the Act. Our responsibilities
under those SAs are further described in the
''Auditor''s Responsibilities for the Audit of the
Standalone Financial Statements section of our
report. We are independent of the Company in
accordance with the Code of Ethics issued by
the Institute of Chartered Accountants of India
(''ICAI'') together with the ethical requirements
that are relevant to our audit of the Standalone
Financial Statements under the provisions of the
Act, and the rules thereunder, and we have fulfilled
our other ethical responsibilities in accordance
with these requirements and the ICAI''s Code
of Ethics. We believe that the audit evidence we
have obtained is sufficient and appropriate to
provide a basis for our opinion on the Standalone
Financial Statements.

Key Audit Matters

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

Other Information

4. The Company''s Management and the Board of
Directors are responsible for the other information.
The other information comprises the information
included in the Company''s annual report but does
not include the Standalone Financial Statements
and our auditors'' report thereon. The Other
Information is expected to be made available to
us after the date of this auditor''s report.

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

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

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

Responsibilities of Management and Those

Charged with Governance for the Standalone

Financial Statements

6. The Company''s Management and Board of
Directors are responsible for the matters stated
in section 134(5) of the Act with respect to the
preparation of these Standalone Financial
Statements that give a true and fair view of
the financial position, financial performance,
including other comprehensive income, changes
in equity and cash flows of the Company in
conformity with the Indian Accounting Standards
prescribed under section 133 of the Act read with
the Companies (Indian Accounting Standards)
Rules, 2015, as amended and other accounting
principles generally accepted in India. This
responsibility also includes maintenance of
adequate accounting records in accordance
with the provisions of the Act for safeguarding of
the assets of the Company and for preventing
and detecting frauds and other irregularities;
selection of the appropriate accounting software
for ensuring compliance with applicable laws and
regulations including those related to retention of
audit logs; selection and application of appropriate
accounting policies; making judgments and
estimates that are reasonable and prudent; and
design, implementation and maintenance of
adequate internal financial controls, that were

operating effectively for ensuring the accuracy
and completeness of the accounting records,
relevant to the preparation and presentation of
the Standalone Financial Statements that give
a true and fair view and are free from material
misstatement, whether due to fraud or error.

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

The Board of Directors is also responsible
for overseeing the Company''s financial

reporting process.

Auditor''s Responsibilities for the Audit of the

Standalone Financial Statements

8. Our objectives are to obtain reasonable assurance

about whether the Standalone Financial

Statements as a whole are free from material
misstatement, whether due to fraud or error, and to
issue an 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 Standalone Financial Statements.

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

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

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

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

• Conclude on the appropriateness of the
Management and Board of Director''s 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 Company''s
ability to continue as a going concern. If we
conclude that a material uncertainty exists,
we are required to draw attention in our
auditors'' report to the related disclosures in
the Standalone Financial Statements or, if
such disclosures are inadequate, to modify
our opinion. Our conclusions are based on
the audit evidence obtained up to the date of
our 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 Standalone Financial
Statements, including the disclosures, and
whether the Standalone Financial Statements
represent the underlying transactions
and events in a manner that achieves
fair presentation.

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

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

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

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

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

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

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

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

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

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

e) On the basis of the written representations
received from the directors as on 31/03/2026
taken on record by the Board of Directors,
none of the directors is disqualified as on
31/03/2026 from being appointed as a director
in terms of Section 164(2) of the Act.

f) With respect to the adequacy of the internal
financial controls with reference to Standalone
Financial Statements of the Company and
the operating effectiveness of such controls,
refer to our separate Report in ''Annexure B''.

g) In our opinion and according to the
information and explanations given to us,
the remuneration paid by the Company to
its director during the year is in accordance
with the provisions of Section 197 of the
Companies Act, 2013, read with Schedule V to
the Act, where applicable. The remuneration
paid to one director was in excess of the
limits prescribed under Section 197 of the
Act; however, the Company has obtained the
requisite approval by shareholders by way
of a special resolution through postal ballot
on 06^th March 2024, in accordance with the
applicable provisions of the Act.

h) The modification is related to the
maintenance of books of accounts and other
matters connected therewith are as stated
in the paragraph 10(b) above on reporting
under Section 143(3)(b) and paragraph 10 (i)
(vi) below on reporting under Rule 11(g) of the
Companies (Audit and Auditors) Rules, 2014
(as amended).

i) With respect to the other matters to be
included in the Auditor''s Report in accordance
with Rule 11 of the Companies (Audit and
Auditors) Rules, 2014, as amended, in our
opinion and to the best of our information and
according to the explanations given to us:

i. The Company has disclosed the impact
of pending litigations as at 31/03/2026 on
its financial position in the Standalone
Financial Statement as at 31/03/2026
(Refer note 33 to the Standalone Financial
Statements).

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

iii. There has been no delay in transferring
amounts, required to be transferred by
the Company to the Investors Education
and Protection Fund.

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

b) The Management has represented
that, to the best of their knowledge
and belief, as disclosed in note no.
46 (ix) to the standalone financial
statements, no funds (which are
material either individually or in
aggregate), other than in normal
course of business, have been
received by the Company from any
person(s) or entity(ies), including
foreign entity (''Funding Parties''),
with the understanding, whether
recorded in writing or otherwise,
that the Company shall, whether,

directly or indirectly, lend or invest in
other persons or entities identified
in any manner whatsoever by or
on behalf of the Funding Party
(''Ultimate Beneficiaries'') or provide
any guarantee, security or the like on
behalf of the Ultimate Beneficiaries;

c) Based on such audit procedures
that have been considered
reasonable and appropriate in the
circumstances, performed by us,
nothing has come to our notice that
has caused us to believe that the
representations under sub-clause 10
(h) (iv) (a) and 10 (h) (iv) (b) contain
any material misstatement.

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

vi. Based on our examination which included
test checks, the Company has used
accounting software for maintaining
its books of account for the year ended
31/03/2026, 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, except that in respect of
the aforesaid accounting software, audit
trail was not enabled at the database
level to log any direct data changes.
Further, during the course of our audit,
we did not come across any instance of
the audit trail feature being tampered
with, with respect to the aforesaid of the
accounting software for which the audit
trail feature was operating. (Refer Note 47
to the Standalone Financial Statements).

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

Amrish Thakker
Partner

Membership No.:123069
UDIN: 26123069RQRCGP6065

Trejhara Solutions Limited

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

This Report supersedes our Report dated 30/05/2025

for reasons mentioned under Note No. 44 to the

Standalone Financials Statements.

Opinion

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

I n our opinion and to the best of our information and according to the explanations given to us, the aforesaid Standalone Financial Statements give the information required by the Companies Act, 2013, as amended ("the Act") in the manner so required and give a true and fair view in conformity with the Indian Accounting Standards prescribed under section 133 of the Act read with the Companies (Indian Accounting Standards) Rules, 2015, as amended, ("Ind AS") and other accounting principles generally accepted in India, of the State of Affairs of the Company as at 31/03/2025, its Profit and the Other Comprehensive Income, Changes in Equity and its Cash Flows for the year ended on that date.

Basis for Opinion

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

Information Other than the Standalone Financial Statements and Auditor''s Report Thereon

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

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

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

5. In connection with our audit of the Standalone Financial Statements, our responsibility is to read the other information identified above when it becomes available and, in doing so, consider whether the other information is materially inconsistent with the Standalone Financial Statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

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

Management''s Responsibilities for the Standalone Financial Statements

6. The Company''s management and Board of Directors are responsible for the matters stated in section 134(5) of the Act with respect to the preparation of these Standalone Financial Statements, in terms of the requirements of the Act, that give a true and fair view of the financial position, financial performance, including other comprehensive income, changes in equity and cash flows of the Company in accordance with the Ind AS and other accounting principles generally accepted in India. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Standalone Financial Statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

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

The Board of Directors is also responsible for overseeing the Company''s financial reporting process.

Auditor''s Responsibilities for the audit of the Standalone Financial Statements

8. Our objectives are to obtain reasonable assurance about whether the Standalone Financial Statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an 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 Standalone Financial Statements.

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

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

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

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

¦ Oonclude on the appropriateness of the management''s and the Board of Director''s 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 Company''s 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 Standalone Financial Statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our 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 Standalone Financial Statements, including the disclosures, and whether the Standalone Financial Statements represent the underlying transactions and events in a manner that achieves fair presentation.

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

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

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

From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the Standalone Financial Statements of the current year and are therefore the key audit matters. We describe these matters in our auditors'' report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

Other Matter

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

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

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

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

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

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

Report on Other Legal and Regulatory Requirements

12. As required by the Companies (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, we give in the "Annexure

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

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

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

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

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

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

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

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

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

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

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

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

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

iv. a) The Management has represented

that, to the best of their knowledge and belief, as disclosed in note no. 45(viii) to the Standalone Financial Statements, no funds (which are material either individually or in aggregate), other than in normal course of business, have been advanced or loaned or invested (either from borrowed

funds or share premium or any other sources or kind of funds) by the Company to or in any other person(s) or entity(ies), including foreign entities ("Intermediaries"), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall, whether, directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Company ("Ultimate Beneficiaries") or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries;

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

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

v. No dividend has been declared or paid

during the year by the Company.

vi. Based on our examination which

included test checks, the company

has used an accounting software for maintaining its books of account which have a feature of recording audit trail (edit log) facility and the same was operational throughout the year for all relevant transactions recorded in the software.

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

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

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

Amrish Thakker Partner

Membership No.:123069 UDIN: 25123069BMKSUM4917

To the Members of Trejhara Solutions Limited

Report on the Audit of the Standalone Financial Statements

Opinion

I have audited the accompanying financial statements of Trejhara Solutions Limited ("the Company"), which comprise the Balance Sheet as at 31^st March 2024, the Statement of Profit and Loss (including Other Comprehensive Income), the Statement of Changes in Equity and the Statement of Cash Flows for the year then ended, and notes to the standalone financial statements, including a summary of material accounting policies and other explanatory information (hereinafter referred to as "the standalone financial statements")

In my opinion and to the best of my information and according to the explanations given to me, the aforesaid standalone 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 Indian Accounting Standards prescribed under section 133 of the Act read with the Companies (Indian Accounting Standards) Rules, 2015, as amended, ("Ind AS") and other accounting principles generally accepted in India, of the state of affairs of the Company as at 31^st March, 2024, the profit and the total comprehensive income, changes in equity and its cash flows for the year ended on that date.

Basis of Opinion

I have conducted my audit of the standalone financial statements in accordance with the Standards on Auditing specified under section 143(10) of the Act (SAs). My responsibilities under those Standards are further described in the ''Auditor''s Responsibilities for the Audit of the Standalone Financial Statements'' section of my report. I am an 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 my audit of the standalone financial statements under the provisions of the Act and the Rules made thereunder, and I have fulfilled my other ethical responsibilities in accordance with these requirements and the ICAI''s Code of Ethics. I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my audit opinion on the standalone financial statements.

Key Audit Matters

Key Audit Matters (''KAM'') are those matters that, in my professional judgement, were of most significance in my audit of the standalone financial statements of the

current audit period. These matters were addressed in the context of my audit of the standalone financial statements as a whole, and in forming my opinion thereon, and I do not provide a separate opinion on these matters. There are no key audit matters to be disclosed.

Emphasis of Matter

I draw attention to Note 30 of the Standalone Financial Statements, As a matter of prudence, Wherein the Company has taken impairment provision to the extent of '' 6,494.23 lakhs in the carrying value of its investments and other assets shown as an exceptional item in the standalone financial statements during the year ended 31 March, 2024.

My Opinion is not modified in respect of this matter.

Information Other than the Standalone Financial Statements and Auditor''s Report Thereon

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 standalone Ind AS financial statements and my auditor''s report thereon.

My opinion on the standalone Ind AS financial statements does not cover the other information and I do not express any form of assurance conclusion thereon.

In connection with my audit of the standalone Ind AS financial statements, my responsibility is to read the other information and, in doing so, consider whether such other information is materially inconsistent with the Standalone financial statements or my knowledge obtained in during the course of audit or otherwise appears to be materially misstated.

If, based on the work I have performed on the other information obtained prior to date of this audit report, I conclude that there is a material misstatement of this other information, I am required to report that fact. I have nothing to report in this regard.

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

The Company''s 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 view of the financial position, financial performance including other comprehensive income, cash flows

and changes in equity 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 Act read with the Companies (Indian Accounting Standard) Rules, 2015, as amended. 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 financial statements, management and Board of Directors are 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 the Company''s financial reporting process.

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

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

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

• Identify and assess the risks of material misstatement of the standalone financial statements, whether due to fraud or error, design and perform audit procedures responsive to those

risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for my opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under section 143(3)(i) of the Companies Act, 2013, I am also responsible for expressing my 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 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 Company''s ability to continue as a going concern. If I conclude that a material uncertainty exists, I am required to draw attention in my auditor''s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify my opinion. My conclusions are based on the audit evidence obtained up to the date of my 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.

I 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 I identify during my audit.

I also provide those charged with governance with a statement that I 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 my independence, and where applicable, related safeguards.

From the matters communicated with those charged with governance, I determine those matters that were of most significance in the audit of the standalone financial statements of the current period and are therefore the key audit matters. I describe these matters in my auditors'' report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, I determine that a matter should not be communicated in my 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, 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, I report that:

(a) I have sought and obtained all the information and explanations which to the best of my knowledge and belief were necessary for the purposes of my audit.

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

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

(d) In my opinion, the aforesaid standalone financial statements comply with the Indian Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Indian Accounts Standards) Rules, 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 are disqualified as on 31^st March, 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 reference financial reporting of the Company and the operating effectiveness of such controls, refer to my separate Report in "Annexure B"; and

(g) In my opinion 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.

(h) With respect to the other matters to be included in the Auditor''s Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, as amended, in my opinion and to the best of my information and according to the explanations given to me:

i. The Company has disclosed the impact of pending litigations as at 31^st March, 2024 on its financial position in its standalone financial statements - Refer Note 31 to the standalone financial statements.

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

iii. There is no amount, which is required to be to transferred to the Investor Education and Protection Fund by the Company during the year ended 31^st March, 2024.

iv. (a) The management has represented that, to the best of its knowledge and belief, 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 or entity, including foreign entities ("Intermediaries"), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall, whether, directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Company ("Ultimate Beneficiaries") or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries;

(b) The management has represented that, to the best of its knowledge and belief, no funds have been received by the Company from any person or entity, including foreign entity

("Funding Parties"), with the understanding, whether recorded in writing or otherwise, that the Company shall, whether, directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party ("Ultimate Beneficiaries") or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries;

(c) Based on such audit procedures that have been considered reasonable and appropriate in the circumstances, nothing has come to my notice that has caused me to believe that the representations under sub-clause (a) and (b) contain any material misstatement.

v. The Company has not declared dividend during the current year in accordance with Section 123 of the Act, as applicable.

Place : Navi Mumbai Date : May 23, 2024

vi. Based on my examination, which included test checks, the Company has used accounting software for maintaining its books of account for the financial year ended 31 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 my audit I 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 March, 2024.

For Bansi Khandelwal & Co.

Chartered Accountants Firm Regn No. 145850W

Bansi V. Khandelwal

(Proprietor) Membership No. 138205 UDIN: 24138205BKBKDA8106