Auditor Report of Sri Amarnath Finance Ltd.

Mar 31, 2024

We have audited the accompanying Standalone financial statements of Sri Amarnath Finance Limited ("the
company"), which comprises the Balance Sheet as at 31^st March 2024, the Statement of Profit and Loss and the
Cash Flow 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
standalone financial statements give the information required by the Companies Act, 2013 in the manner so
required and give a true and fair view in conformity with the Companies Indian Accounting Standards (''Ind
AS'') specified under section 133 of the Act read with the Companies (Indian Accounting Standards) Rules, 2015
and accounting principles generally accepted in India, of the state of affairs of the Company as at 31^st March
2024 and its profit/loss and its cash flows for the year ended on that date.

Basis of 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 Auditor''s
Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the
Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India
together with the ethical requirements that are relevant to our audit of the financial statements under the
provisions of the Companies Act, 2013 and the Rules thereunder, and we have fulfilled our other ethical
responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit
evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Key Audit Matters

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

Management''s Responsibility 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 and presentation of these standalone 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 Ind AS specified under section 133 of the Act and other accounting principles generally

accepted in India. This responsibility also includes maintenance of adequate accounting records in accordance |

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with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting |

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frauds and other irregularities; selection and application of appropriate accounting policies; making judgments |

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and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate |

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internal financial control, that were operating effectively for ensuring the accuracy and completeness of the |

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accounting records, relevant to the preparation and presentation of the financial statements that give a true and |

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fair view and are free from material misstatement whether due to fraud or error. |

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In preparing the financial statements, management is responsible for assessing the Company''s ability to |

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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, j

or has no realistic alternative but to do so. 1

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Those Board of Directors are also responsible for overseeing the Company⁷ s financial reporting process. |

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Auditor''s Responsibility for the Audit of the Financial Statements |

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free |

from material misstatement whether due to fraud or error, and to issue an auditor⁷ s report that includes our |

opinion Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in |

accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from |

fraud or error and are considered material if, individually or in the aggregate, they could reasonably be |

expected to influence the economic decisions of users taken on the basis of these financial statements. |

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As part of an audit in accordance with SAs, specified under section 143(10) of the Act we exercise professional f

judgment and maintain professional skepticism throughout the audit We also: |

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• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or S

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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 |

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misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve |

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collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. |

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• Obtain an understanding erf internal control relevant to the auditin order to design audit procedures that are |

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appropriate in the circumstances. Under section 143(3)(i) of the Act we are also responsible for expressing |

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our opinion on whether the Company has adequate internal financial controls system in place and the |

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operating effectiveness of such controls. |

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• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates

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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 Company⁷ s ability to continue as a going concern. If we conclude that a j
material uncertainty exists, we are required to draw attention in our auditor''s report to the related j
disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our j
conclusions are based on the audit evidence obtained up to the date of our auditor⁷ s report However, future j

events or conditions may cause the Company to cease to continue as a going concern. \

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Evaluate the overall presentations, structure and content of the financial statements, including the disclosures, jj
and whether the financial statements represent the underlying transactions and events in a manner that j
achieves fair presentation. \

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We communicate with those charged with governance regarding, among other matters, the planned scope and j

timing of the audit and significant audit findings, including any significant deficiencies in internal control that j
we identify during our audit \

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We also provide those charged with governance with a statement that we have complied with relevant ethical j

requirements regarding independence, and to communicate with them all relationships and other matters that j
may reasonably be thought to bear on our independence, and where applicable related safeguards. !

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From the matters communicated with those charged with governance, we determine those matters that were of j

most significance in the audit of the financial statements of the current period and are therefore the key audit j
matters. We describe these matters in our auditors'' report unless law or regulation precludes public disclosure j

about the matter or when, in extremely rare circumstances, we determine that a matter should not be !

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communicated in our report because the adverse consequences of doing so would reasonably be expected to j
outweigh the public interest benefits of such communication. i

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Report on other Legal and Regulatoiy Requirements l

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1. As required by the Companies (Auditor''s Report) Order, 2020 ("the Order") issued by the Central i

Government of India in terms of sub - section (11) of section 143 of the Act we give in the Annexure A, a I

statement on the Matters specified in the paragraph 3 and 4 of the Order. i

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

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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 of the accompanying Standalone j

Financial Statements. I

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

c) The Balance Sheet, the Statement of Profit and Loss, and 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 Indian Accounting
Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules,
2014.

e) The basis of the written representations received from the directors as on 31 March, 2024, taken on
record by the Board of Directors, none of the directors is disqualified as on 31 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 control with reference to financial statements of the
Company and the operating effectiveness of such controls, refer to our separate report in "Annexure
B"; and

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

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

ii. The Company did not have any long-term contracts including derivate contracts for which there
were any material foreseeable losses as at 31^st March 2024.

iii. There were no amounts which were required to be transferred to the Investor Education and
Protection Fund by the Company as at 31^st March 2024.

iv.

a) The management has represented that, to the best of its knowledge and belief, other than as
disclosed in the notes to the Accounts, no funds have been advanced or loaned or invested
(either from borrowed funds or share premium or any other sources or kinds of funds ) by the
company to or in any other person(s) or entities 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.

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b) The management has represented that to the best of its knowledge and belief, other than as |

disclosed in the notes to the accounts, no funds have been received by the company from any |
person(s) or entity(ies) including foreign entities ("Funding parties"), with the understanding |
whether recorded in writing or otherwise, that the company shall, whether directly or indirectly |
lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of |

the funding parties ("ultimate Beneficiaries") or provide any guarantee, security or the like on |

behalf of the ultimate beneficiaries; and I

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c) Based on the audit procedures that the auditor has considered reasonable and appropriate in the |

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circumstances, nothing has come to their notice that has caused them to believe that the |

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representation under sub point (a) and (b) contain any mis-statement |

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v. The company does not declare or paid any dividend during the year. |

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vi. Based on our examination, which included test checks, the Company has used accounting |

software for maintaining its books if account for the financial year ended 31^st March 2024 which |

has a feature of recording audit trail (edit Log) facility and same has operated throughout the year |

for all relevant transactions recorded in the software. Further, during the course of our audit we |

did not come across any instance of the audit trail feature being tampered with. |

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As proviso to Rule 3(1) of the Companies (Accounts) Rules, 2014 is applicable from 1^st April, 2023 reporting |

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under Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014 on preservation of audit trail as per the |

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statutory requirements for record retention is not applicable for the Financial Year ended 31^st March, 2024. jjj

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Place: New Delhi Rajender Kumar Singal & Associates LLP

Date: 21.05.2024 (Chartered Accountants) |

FRN NO. - 016379N

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Pankaj Gupta |

Partner |

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M. No. - 094909 I

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UDIN- 24094909BKBFPG1168 I

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Mar 31, 2015

I have audited the accompanying financial statements of M/s Sri Amarnath Finance Limited which comprise the Balance Sheet as at March 31, 2015 and the Statement of Profit and Loss, the Cash Flow Statement for the year then ended, and a summary of significant accounting policies and other explanatory information.

Management's Responsibility for the Financial Statements

The Company's Management is responsible for the matters in section 134(5) of the Companies Act, 2013 (the Act) with respect to 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 the Companies Act, 2013 read with rule 7 of Companies (Accounts) Rules, 2014. This responsibility also includes the maintenance of adequate accounting records in accordance with the provision of the act for the safeguarding of Assets of the company and for preventing and detecting the frauds and other irregularities, selection and application of appropriate accounting policies, making judgments and estimated 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

My responsibility is to express an opinion on these financial statements based on my audit. I have taken into account the provisions of the act, the accounting and Auditing standards and matter which are required to be included in the audit report under the provision of the act and the rules made there under. I conducted my 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 control relevant to the Company's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the

circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as Ill as evaluating the overall presentation of the financial statements.

I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my audit opinion on the financial statements.

Opinion

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

(a) In the case of the Balance Sheet, of the state of affairs of the Company as at 31st March, 2015;

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

(C) In the case of the Cash Flow Statement, of the Cash Inflows for the year ended on that date;

Report on other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order, 2015 ("the Order") issued by the Central Government of India in terms of sub-section (11) of section 143 of the Act, I give in the Annexure"I" a statement on the matters specified in paragraphs 3 and 4 of the Order.

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 purpose of my audit;

b) in my opinion proper books of account as required by law have been kept by the Company so far as appears from my examination of those book;

c) the Balance Sheet, Statement of Profit and Loss, and cash flow Statement dealt with by this Report are in agreement with the books of account;

d) in my opinion, the aforesaid Financial Statements, comply with the Accounting Standards specified under section 133 of the act, read with 7 of Companies (Accounts) Rules, 2014.

e) on the basis of written representations received from the directors as on 31st March, 2015, and taken on record by the Board of Directors, none of the directors is disqualified as on 31st March, 2015, from being appointed as a director in terms of section 164(2) of the act.

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

(i) The Company does not have any pending litigations which would impact its financial position.

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

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

ANNEXURE'I' TO THE AUDITOR'S REPORT

The Annexure referred to in my report of even date to the members of Company named as at and for the year ended 31st March, 2015,1 report that:

1. Fixed Assets:

a) The Company has maintained proper records showing full particulars including quantitative details and situation of fixed assets on the basis of available information.

b) As explained to me, all the fixed assets have been physically verified by the management in a phased periodical manner, which in my opinion is reasonable, having regard to the size of the Company and nature of its assets. No material discrepancies were noticed on such physical verification.

2. The company does not have any inventories as at the date of the Balance Sheet because all its purchases of shares etc. has been shown in under the head of Investments.

3. (a) In my opinion and according to the information and explanations given to me, the company has not granted any unsecured loans to the companies, firms or other parties covered in the register maintained under section 189 of the Companies Act, 2013.

(b) In View of the facts mentioned in Point No- a, above the provisions of clause regarding reasonableness of interest charges or paid are not applicable to the company during the year under report.

4. In my opinion and according to the information and explanations given to me, there are adequate internal control procedures commensurate with the size of the company and the nature of its business with regard to purchases of stock-in-trade of shares, debentures, commodities and other similar securities, fixed assets and for the sale of such stock-in-trade and services. Further, on the basis of my examination of books and records of the company and according to the information and explanations given to me, I have neither come across nor have been informed of any continuing failure to correct major weaknesses in the aforesaid internal control system.

5. In my opinion and according to the information and explanations given to me , the company has not accepted deposits as the company is a non banking Financial company the provision of section 73 & 74 are not applicable.

6. I have been informed that maintenance of cost records has not been prescribed by the Central Government of the Companies Act, for the year under review.

7. The company is generally regular in depositing undisputed statutory dues including Provident Fund, Employees State Insurance, Income Tax, Sales Tax, Service Tax, and any other statutory dues with the Appropriate Authorities.

8. The Company has no accumulated losses. The company has not incurred cash losses during the financial year covered by my audit, as well as in the immediately preceding financial year.

9. Since the company has neither taken any loans from a financial institution or a bank nor issued any debentures, hence the provisions of paragraph 4 (xi) of the order regarding default in repayment of dues to a financial institution or bank or debenture holders doesn't arise.

10. According to the information and explanations given to me, the Company has not given any guarantees for loans taken by others from a bank or financial institution.

11. According to the information and explanations given to me, I report that the company has not raised any term loans during the year.

12. Based on the audit procedures performed and the information and explanations given to me, I report that no fraud on or by the Company has been noticed or reported during the year, nor have I been informed of such case by the management.

CA. SUMIT ARORA (Chartered Accountant) M. No. 513784

Place : New Delhi Date: 28.05.2015