ఆడిటర్ నివేదిక Vedant Asset Ltd.

Mar 31, 2025

We have audited the accompanying Annual Financial Results of Vedant Asset Limited
(hereinafter referred to as the "Company") for the half year and year ended March 31, 2025,
attached herewith, being submitted by the Company pursuant to the requirement of Regulation
33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure
Requirements] Regulations, 2015, as amended ("Listing Regulations”].

In our opinion and to the best of our information and according to the explanations given to us,
the aforesaid annual financial results:

[i] Are presented in accordance with the requirements of Regulation 33 of the Listing
Regulations in this regard; and

Hi] give a true and fair view in conformity with the recognition and measurement
principles laid down in the applicable Indian Accounting Standards, and other
accounting principles generally accepted in India, of net profit and other
comprehensive income and other financial information of the Company for the year .

ended March 31, 2025.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under
Section 143(10) of the Companies Act, 2013 ("Act"). Our responsibilities under those Standards
are further described in the auditor’s responsibilities for the audit of the Annual Financial Results
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.

Management''s Responsibility for the Annual Financial Results

These annual financial results have been prepared on the basis of the annual financial statements.
The Company''s Board of Directors is responsible for the preparation and presentation of these
annual financial results that give a true and fair view the net profit and other financial

information of the Company in accordance with the Accounting Standards prescribed under
Section 133 of the Act read with relevant rules issued thereunder and other accounting principles
generally accepted in India and in compliance with Regulation 33 of the Listing regulations. The
Board of Directors of the company is responsible for 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 the 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 Annual Financial Results
that give a true and fair view and are free from material misstatement, whether due to fraud or
error.

In preparing the Annual Financial Results, the Board of Directors of the company 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 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.

Auditors'' Responsibility for the Audit of the Annual Financial Results

Our objectives are to obtain reasonable assurance about whether the Annual Financial Results 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 Annual Financial Results.

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 Annual Financial Results,
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)(1) of the

Companies Act, 2013, 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 the Board of Directors. ¹

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
Annual Financial Results 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 Annual Financial Results,
including the disclosures, and whether the financial results represent the underlying
transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance of the Company 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.

Other Matter

• The board of directors at its meeting held cm 02.08.2024 approved divestment of 100%
shares of Kartik Credit Pvt. Ltd. As on 30.06.2024 and pursuant to the said divestment,
Kartik Credit Pvt. Ltd. is no longer the wholly owned subsidiary of Vedant Asset Ltd. w.e.f.
01.07.2024.

• IDS as per 26AS and as per books of accounts is not reconciled as there may be updates
in 26AS upto 31^st May 2025.

• There is an outstanding demand for the Assessment Year 2021-22 under the PAN of the
entity. The management has been informed of the same and has been advised to take
necessary steps to reconcile or respond to the demand. The impact of this demand, if any,
has not been accounted for in the financial statements.

The Annual Financial Results include the results for the half year ended 31, March, 202.3 being
the balancing figure between the audited figures in respect to the full financial year and the
published unaudited year to date figures upto the end of September of the current financial year
which were subject to limited review by us.

For N.K. Kejriwal & Company
Chartered Accountants
FRN: 04326C

CA. Naresh Kumar Kejriwal

(Partner)

M. No.: 073381

UDIN: 25073381BMJMFW7745
Place: Ranchi
Date: 29.05.2025

1

Conclude on the appropriateness of the Board of Directors use of the going concern basis -
of accounting and, based on the audit evidence obtained whether a material uncertainty
exists related to events or conditions that may cast significant doubt on the Company s

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Mar 31, 2024

VEDANT ASSET LIMITED

Report on the Audited Standalone Financial Statements

We have audited the accompanying Standalone Financial Statements of Vedant Asset Limited ("the Company") which comprise the balance sheet as at 31 March 2024, the statement of profit and loss for the year then ended and a summary of significant accounting policies and other explanatory information. The Audit of the Standalone Financial Statement has been done in pursuant to Regulation 33 of SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015. This statement is responsibility of the Company''s Management and has been approved by the Board of Directors. Our responsibility is to issue an audit report on these financial statements based on our report.

Basis of Opinion

We have conducted the audit of the standalone financial statements of Vedant Asset Limited ("the Company"), which comprise the balance sheet as at 31^st March 2024, and the statement of Profit and Loss and notes to the financial statements, including a summary of significant accounting policies and other explanatory information In 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 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 Profit for the year ended on that date.

In our opinion and best of our information and explanations give to us, the standalone financial statements as on 31^st March 2024 are -

i. Presented in accordance to the requirements of Regulation 33 of SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015

ii. Gives a true and fair view of the accounts in conformity with the accounting principles generally accepted in India and have been prepared on the basis of going concern concept.

Management''s Responsibility for the Financial Statements *

The Company''s Board of Directors is responsible for the matters in section 134(5) of the Companies Act, 2013 with respect to 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 principles generally accepted in India, including the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. This responsibility also includes the rp&ihf^jw^ of adequate accounting records in accordance with the provision of the Act for safegU^^n^QA the assets of the Company and for

preventing and detecting the 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 internal financial control, 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.

Auditor''s Responsibility for the Financial Statements

Our responsibility is to express an opinion on these financial statements based on our audit. We have taken into account the provisions of the Act, the accounting and auditing standards and matters which are required to be included in the audit report under the provisions of the Act and the Rules made thereunder.

We conducted our audit in accordance with the Standards on Auditing specified under section 143(10) of the Act. 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 from 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 the 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 financial control relevant to the Company s preparation of the financial statements that give true and fair view in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the ¦ appropriateness of accounting policies used and the reasonableness of the accounting estimates made by Company s Directors, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the financial statements.

For N. K. Kejriwal & Company Chartered Accountants FRN — 04326C

**—^

CA Naresh Kumar Kejriwal

(Partner) *

No. NO. 073381

UDIN - 24073381BKBMNN8284 Place - Ranchi

Date - 30.05.2024 •