Techno Forge Ltd Auditor Reports

INDEPENDENT AUDITRS R SPORT

To

The Members of

M/s Techno Forge Limited

(ON: 1.289 iOCIJ1979PLC003508)

Report on the audit of the financial statements

Opinion

We have audited the accompanying financial statements of M/s Techno Forge Limited ("the Company"), which comprise the balance sheet as at 31st March, 2025, and Profit and Loss Account and cash flows statement for the year then ended 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 financial statements give the information required by the Companies Act, 2013 (‘Act) in the mai ner so required and give a true and lair view m conformity with the accounting,principles generally accepted in India, of the state of affairs of the Company as at j P March. 2025, its profit (or Loss) and cash flows 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 Companies Act, 2013. Our responsibilities under those Standards are further described in the auditors responsibilities for the audit ol 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 et! ical requirements that are relevant to our audit ot the financial statements under the provisions of the Act and the rules the* under, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the code of ethics.

W v. believe that the audit evidence we have obtained is sufficient and.appropriate to provide a basis for our opinion. Emphasis of Mattel-

• Implementation of Resolution Plan as approved by Honble NCLT

a. We draw attention to Note 1(A) to the financial statements, which states that pursuant to the Order dated 02nd February 2024 passed by the Honble National Company Law Tribunal, Ahmedabad Be ich, under Section 30(6) read with Section 3I of the Insolvency and Bankruptcy Code, 2016. in the matter of 1A (IB) No. 8(4(AHM) 2021 in CP (IB) No. 264 of 2018. a Resolution Plan submitted by the successful resolution applicant was approved for the Company.

As per the approved Resolution Plan, Hie total settlement obligation towards the secured! financial creditor, Bank of India, was Rs.90,000/- thousand along with interest at 10% per annum. As on the date of these financial statements i.e. 31st March 2025, an amount of Rs.74,075/- thousand including applicable interest had been paid, with a balance of Rs. 15,924/- thousand remaining payable. Subsequently, the full payment of Rs.90,000/- thousand along with merest has been completed on 04th September 2025. Other payables under the Resolution Plan have been duly settled. The implementation of the Resolution Plan is currently in progress and ahead of the stipulated schedule. Based on the progress made and managements assessment, there is no material uncertainty regarding the Companys ability to continue as a going concern.

Our opinion is not modified in respect of this matter.

b. We draw attention to Note 10 of the financial statements regarding the classification of leasehold land. The Company has recorded leasehold land under the head "Freehold Land" in Property, Plant t nd Equipment. As per Accounting Standard (AS) 10 - Accounting for Fixed Assets, leasehold land should be presented separately from freehold land! The said classification has been disclosed in the financial statements.

Our opinion is not modified in respect of this matter.

Other Information

I he Companys Board of Directors is responsible for the preparation of the other i tformation. The other information comprises the information included in the Boards Report including Aunexures to Boards Report, Business Responsibility Report but does not include the financial statements and our auditors report thereon.

Our opinion on the financial statements does not cover the other information and we dd not exnress 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 during the course of our audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information; we are required to report that fact. We have nothing to report in this regard.

Managements responsibility for the financial statements

The Companys board of directors are 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 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. 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 o 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 statement that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, Companys Board of Directors is responsible for assessing the Companys ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis . of accounting unless 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 companys financial reporting process.

Auditors responsibilities for the audit of the, financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a vvnoie are free from material misstatement, whether due to fraud or error, and to issue an auditors report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decis ons 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 scepticism throughout the audit. We also:

• identify and assess the risks of material misstatement of the financial statements, wf ether 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(3X0 of the Companies Act, 2013, we are also responsible for expressing our opinion on whether the company has adeouate-internal financial controls system in place and the operating effectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and the reasonableness ]f 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 conduct loans 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 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 o, our auditors 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 w.iether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

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

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements legardmg independence, and to communicate with them all relationships and other matters that may reasonably be thought 10 Rs.eai on 0111 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 auditors report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter s louId not be communicated in our report because the adverse consequences of doing s) would reasonably be expected to outweigh the public interest benefits of such communication.

Other Matter

T he financial statements of the Company for the year ended 31sl March 2024 were auc ited by the previous auditor, M/s Mahesh A. Mehta & Co, Chartered Accountants, who expressed an unmodified opin on on those statements vide their report dated 21st September 2024. Our opinion on the, current years financial statements is not modified in respect of this matter.

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, to the extent applicable.

2. As required by Section 143(3) of the Act, we report that:

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

b. in oui opinion, proper books ot account as required by law have been kept by the Company so far as it appears from our examination of those books.

c. The balance sheet, the profit and loss account, the cash flow statement dealt witlli by this Report are in agreement with the books of account.

d. In our opinion, the aforesaid^aadaiQne financial statements comply with the.acc Hinting standards specified under Scciion 133 of the Act, the Companies (Accounts) Rules. 2014

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

I. 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 "Annoxure IF. Our report expresses an unmodified opinion on the adequacy arid operating effectiveness of the Companys internal financial controls over financial reporting.

g. With respect to the other matters to be included in the Auditors Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our informatio n and according to the explanations. given to us;

i. The Company lias disclosed the impact of pending litigations on its financial position in its financial statements - Refer Note 1 (V) to the financial statements.

ii. file Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses; and

iii. i here were no amounts which were-required to be transferred to the Investoi Education and Protection Fund by the Company.

iv. (a) The management has represented that, to the best of its knowledge and beiief, no funds have been advanced or loaned or invested (either from borrowed funds, share premium, or any other sources or kind of funds) by the Company to or in any other persons or entities, including foreign entities ("intermediaries"), with the understanding that the Intermediary shall, directly or indirectly, lend or invest in other persons or entities identified by or on behalf ofthe 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 persons or entities, including foreign entities ("Fundin > Parties"), with the understanding that the Company shall, directly or indirectly, lend or invest in other persons o: entities identified by or on behalf ofthe Funding Party ("Ultimate Beneficiaries") or provide any guarantee, security or the like on behalf ofthe Ultimate Beneficiaries.

(c) Based on audit procedures performed that we considered reasonable and appropriate in the circumstances, nothing lias come to our notice that has caused us to believe that the represen ations made under sub-clauses (a) and (b) above contain any material misstatement.

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

h. Based on our examination, we report that the Company has not maintained its bocks of account using an accounting software having a feature of recording an audit trail (edit log) facility, its requires under proviso to Rule 3(1) of the Companies (Accounts) Rules, 2014. Accordingly, we are unable to report on whether such feature operated throughout the year for ail relevant transactions and whether there was any instant e of tampering with the audit trail.

For, R, Choudhary & Associates

Chartered Accountants

FRN: HH928W

CA*binesh Kumar Partner

M. No. 194078

Place: Ankleshwar

Date: 41 September 2025

UDIN: 25 I94078BN1BII115 i9

Arinexure "A" to the independent Auditors Report oh the Financial Statements of Techno Forge Limited for the year enc cd 31s March 2025

Report on the Companies (Auditors Report) Order, 2020 (‘the Order") issued by the Central Government of India in terms of Section I43( 11) of the Companies Act, 2013 ("the Act")

(Referred to in paragraph i under Report on other legal and regulatory requirements section of our report to the members of M/s Techno Forge Limited of even date)

1. In respect of the Companys fixed assets:

a. The Company has not maintained proper records showing full particulars, ncltiding quantitative details and situation of its Property. Plant and Equipment. We are informed that the C ompany, after completion of the Corporate Insolvency Resolution Process (C1RP) and successful implemen ation of the approved Resolution Plan, is in the process of preparing complete records based on the va nation report and other details. Accordingly, for the purpose of our audit, we have relied on the details provided by the management.

b. The Property, Plant and Equipment of the Company have been physically verified by the management during the year. As informed to us, the Company is in the process of reconciling and compiling complete details of such assets, based on the valuation report and updated records post-CIRP. Pending such compilation, we are unable to comment on whether any material discrepancies between the physical assets and the records exist.

c. According to the information and explanations given to us and on the basis Df our examination of the records of the Company, the Company has not revalued its Property, Plant and Equipment (including Right of Use assets) or intangible assets or both during the year.

d. According to the information and explanations given to us and on the basis if out examination of the records of the Company, the Company does not hold any freehold immovable properties as at the balance sheet date. In respect of immovable properties of land taken on lease and disclosed tnder fixed assets in the financial. statements, the lease agreements are duly executed in the name of the Company. Please also refer the "Empasis of Matter para C."

e. According to the information and explanations given to us and on the basis if our examination of the records of tile Company, there are no proceedings initiated or pending against the Company for holding any ben ami property under the Prohibition of Benami Property Transactions Act, 1988 and rules made thereunder.

2. fhe inventory has been physically verified by the management during the year. In our opinion, the frequency of such verification is reasonable. According to the information and explanations gicen to us and as examined by us, no material discrepancies were noticed on such verification.

We further report that the company lias not availed any working capital limits from banks or financial institutions, whether on the basis of security of current assets or otherwise, at any time during the year.

3. According to in formation arid explanation given to us, the company has not grant* d any loan, secured or unsecured to companies, firms, limited liability partnerships or other parties covered in tin register required under section 189 of the Companies Act, 2013. Accordingly, paragraph 3 (iii) of the order is nipt applicable.

4. in our opinion and according to information and explanation given to us, the company lias hot granted any loans or provided any guarantees or given any security or made any investments to which the provision of section 185 and 186 of the Companies Act, 2013. Accordingly , paragraph 3 (iv) of the order is not applicable.

5. In our opinion and according to the information and explanations given to us, tiip company has not accepted any deposits and accordingly paragran^^fv) of the order is not applicable.

6. Based on our examination and according to the information arid explanations given to us, the Central Government has prescribed maintenance of cost records under sub-section (1) of Section L 8 of the Act for certain specified activities. However, since the Companys turnover during the immediately preceding financial year is below the prescribed threshold of 235 crore, the requirement to maintain such cost records is not applicable. Accordingly, the provisions of clause 3(vi) of the Order are not applicable to the Company.

7. In respect of statutory dues:

a. The Company is regular in depositing undisputed statutory dues incl tding Goods and Services Tax. provident fund, employees state insurance, income-tax, sales-tax. service tax, duty of customs, duty of excise, value added fax, cess and any other statutory dues, as applicable, with the appropriate authorities. Further, no undisputed amounts payable in respect thereof were outstandi lg at the year-end for a period of more than six months from the date they became payable.

b. There are no dries in. respect of Goods and Services Tax, provident fund, employees state insurance, income- tax, sales-tax, service tax, duty of customs, duty of excise, value added tax, cess and any other statutory dues that have not been deposited with the appropriate authorities on account of any dispute.

According to the information and explanations given to us and on the basis of our examination of the records of the.Company, the Honble NCLT, Ahmedabad Bench, vide its order dated 02.01;.2024 in 1A (IB) No. S64(AHM) 2021 in CP (IB) No. 264 of 2018, approved the resolution plan submitted by the Joint Resolution Applicants, namely, Mr. Ashok Kapasi, Mr. A run Kapasi, and Mr. Vikram Kapasi.

As per the aforesaid order, "from the date of this order, all I iabili ties/claims aga; nst the Corporate Debtor, except those provided in the plan of the Corporate Debtor, stand extinguished."

Accordingly, all disputed and undisputed/pending liabilities stand extinguishec. However, during the year, the Income Tax Department adjusted TDS refunds pertaining to AY 2023-24 and \Y 2024-25 against outstanding liabilities and did not withdraw the pending demands relating to the period pr or to the commencement of the C1RP, contrary to the directions contained in the aforesaid order of the Honble NCLT.

According to the information and explanations given to us and on die basis of cur examination of the records of the Company, the Company has not surrendered or disclosed any transactions, previously unrecorded as income in the books of account, in the tax assessments under the Income Tax Act, 1961 its income during the year.

9 a. According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company has not defaulted in repayment of loans anc borrowing or in the payment of • interest thereon to any lender.

b. According to the information and explanations given to us and on the basis of our examination of the records of the Company, the. Company has not been declared a wilful defaulter by any bank or.financial institution or government or government authority.

c. In our opinion and according to the information and explanations given to u:> by the management, term loans were applied for the purpose for which the loans were obtained.

d. According to the information and explanation given to us, funds raised or short term basis have not been utilised for long term purposes;

e. According to the information and explanation given to us, the company has not raised loans during the year on the pledge of securities held in its subsidiaries, joint ventures or associate companies;

According to Ihe information and explanations given to us and on the basis of our examination of the records of the Company, no fresh borrowings were obtained by the Company during the year or subsequent to the initiation of the C!RP. The Company or its management has not been declared as a wil til defaulter during the year; The implementation of the approved resolution plan is currently in progress, and, upon its successful completion, the Company is expected to receive a No Due Certificate (NOC) with respect to its NPA/default status classification, in accordance with the terms of the approved resolution plan.

10. a. The Company has not raised moneys by way of initial public offer or fu flier public offer (including debt instruments) during the year;

b. According to the information and explanation given to us, the Company has not made any preferential allotment or private placement of shares or convertible debentures (fully, partially or optionally convertible) during the year.

Accordingly, paragraph 3 (ix) of the order is not applicable.

11. a. According to the information and explanation given to us, any fraud by the company or any fraud on the company has not been noticed or reported during the year;

b. According to the information and explanation given to us. no report under Sub-section (12) of section 143 of the Companies Act has been tiled by the auditors in Form ADT-4 as prescribed under rule 13 of Companies (Audit and Auditors) Rules, 2014 with the Central Government:

c. According to the information and explanation given to us, no whistle-blovvcjr complaints, received during the year by the company:

12. The Company is not a Nidhi Company and accordingly, paragraph 3 (xii) of the order is not applicable to the Company.

13. According to the information and explanations given to us and based on our examination of the records of the company, transactions with the related parties are in compliance with section 177 and 188 of the Act. Where applicable, the details of such transactions have been disclosed in the financial statements as required by, the applicable accounting standards.

14. According to the information and explanations given to us, the provisions of Section 138 of the Companies Act, 2013 relating to internal audit are not applicable to the Company. The Company has an internal review process commensurate with the size and nature of its business; however, no formal internal audit reports are prepared or available for our consideration.

15. According to the information and explanations given to us and based on our examination of the records of the company, the company has not entered into non-cash transactions with directors or persons connected with them. Accordingly, paragraph 3(xv) of the order is not applicable.

16. According to the information and explanations given to us, we are of the opinion that the company is not required to be registered under section 45-1A of the Reserve Bank of India Act, 1934 and the company is not a Core Investment Company (C1C) as defined in the regulations made by the Reserve Bank of India, accordingly the provisions of clause 3(xvi) of the Order are not applicable.

17. According to the information and explanations given to us and based on the audit procedures conducted we are of opinion that the company has not incurred any cash losses in the financial year and the immediately preceding financial year.

18. There has been no resignation of the statutory auditors during the year and accordingly, the provisions of clause 3(xviii) of the Order is not applicable.

19. On the basis of the financial ratios, ageing and expected dates of realization cf 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 indicating that company is incapable 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 ck te. We, however, state that this is not an assurance as to the future viability of the company. We further state that )ur 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 t le company as and when they fall due.

20. The provisions of Section 135 towards corporate social responsibility are hot anolicable on the company. Accordingly, the provisions of clause 3(xx) of the Order is not applicable.

21. The reporting under clause (xxi).is not applicable in respect of audit of standalone financial statements of the Company. Accordingly, no comment has been included in respect of said clause under this report.

For, R. Choudhary & Associates

Chartered Accountants

PUN. 1011V50W

C Auiiiesh Kumar

Partner

M. No. 194078

Place: Ankleshwar

Date: 4th September 2025

UDIN: 25I94078BNIBIH1519

Annexure "B" to the Independent Auditors Repo T

(Referred to in paragraph 2 (f) under ‘Report on other legal ami regulatory requirements section of our report to the Members of M/s Techno Forge Limited of even date)

Report on the internal financial controls over financial reporting under clause (i) of sub — section 3 of section 143 of the Companies Act, 2013 ("the Act")

We have audited the internal financial controls over financial reporting of M/s Techro Forge Limited as at 31s1 March, 2025, in conjunction with our audit of the financial statements of the Company for the year ended on that date.

Managements/Directors/management committee responsibility for internal financial controls

1 lie board of directors of the Company/Management is responsible for establishing and maintaining internal financial controls based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control slated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India. These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct of its business, the safeguarding of its assets, the prevention and detection of funds 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 internal financial controls over financial reporting of the Company based on our audit. We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting (the "Guidance Note") issued by the Institute of Chartered Accountants of India and the standards on auditing prescribed under Section 143 (10) of the Companies Act, 2013, to the extent applicable to an audit of internal financial controls. Those standards and the guidance note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls over financial reporting 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 internal financial controls system over financial reporting and their operating effectiveness. Our audit of interna financial controls over financial reporting included obtaining an understanding of internal financial controls over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectivmess of internal control based on the assessed risk. The procedures selected depend on the auditors judgement, including the assessment of the risks of material misstatement in the financial statements, whether due to fraud or error.

We believe that the audit evidence we have obtained, is sufficient and appropriate to provide a basis for our audit opinion on the Companys internal financial control system over financial reporting.

Meaning of internal financial controls over financial reporting

A companys internal financial control over financial reporting is a processdesigned to provide reasonable assurance regarding the reliability offinancial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A companys internal financial control over financial reporting includes those policies and procedures that (i) pertain to the maintenance of records that, in reaso nable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company;(n) provide reasona ole assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance wilh generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorisations of management and directors of the companies provide reasonable assurance regarding prevention or timely detection of unauthorised acquisition, use, or disposition of the companys, assets that could havje a material effect on the financial statements.

Limitations of internal financial controls over financial reporting

Because of the inherent limitations of internal financial controls over financial reporting, including the possibility of collusion or improper management of override of controls, material misstatements due 10 error or fraud may occur and not be detected. Also, projections of any evaluation of the internal financial controls over f nancial reporting to future periods are subject to the risk that the internal financial control over financial reporting may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion and according to the information and explanations given to us, the Company has, in all material respects, an adequate internal financial control system over financial reporting and such internal financial controls over financial reporting were operating effectively as at 31st March, 2025, based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India.

Other Matter/ Remarks

We draw attention to the fact that the Company has recently completed the Corporate insolvency Resolution Process (Cl RP) and undergoing implementation of the approved Resolution Plan. As part of this process, the Company is in the course of compiling .and updating detailed records of its. Property, Plant and Equipment based :>n the valuation report and other supporting information. However, based on our examination and explanations provided, this does not have a material impact on the Companys internal financial controls over financial reporting. Our opinion is not modified in respect of this matter.

For, R. Choiidhary & Associates

Chartered Accountants

FRN: 101928W/,

CA Dinesh Kumar

Partner

M. No. 194078

Place: Ankleshwar

Date: 4th September 2025

UDIN: 25194078BNIBIH1519.