Auditor Report of West Leisure Resorts Ltd.

Mar 31, 2024

We have audited the financial statements of WEST LEISURE RESORTS 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 ended on that date, and a summary of the
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 ("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 loss and total comprehensive income, changes in equity and its
cash flow for the year ended on that date.

Basis for Opinion

We conducted our audit of the Financial Statements in accordance with the Standards on
Auditing (''SAs'') specified under section 143(10) of the Act. Our responsibilities under those
Standards are further described in the 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 (''ICAI'') together
with the ethical requirements that are relevant to our audit of the financial statements under
provisions of the Act and the Rules made 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 financial statements.

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. We have
determined the matters described below to be the key audit matters to be communicated in
our report.

The Company''s investment portfolio consists	Our	audit procedures for this area
of Non-Current investments.	included:
Total investment portfolio of the Company represents 88.09 per cent of the Company''s total assets.	•	We assessed appropriateness of the pricing methodologies with reference to Company''s accounting and valuation policy;
Investments are stated at fair value, determined on an individual investment basis.	•	For unquoted investments, the Company has obtained Valuation report of most of the investments held by it. According to the said valuation reports, the necessary adjustments is done in the accounts in the value of these investments.

Other Information

The Company''s Board of Directors is responsible for preparation of the other information.
Other information comprises the information included in the Board''s Report including
Annexures thereto but does not include the financial statements and our auditor''s report
thereon.

Our opinion on the financial statements does not cover the other information and we will not
express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the
other information identified above when it becomes available 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.

Responsibilities of Management and those charged with Governance for the
Financial Statements

The Company''s Board of Directors is responsible for the matters stated in section 134(5) of
the Act with respect to preparation of these Financial Statements that give a true and fair
view of the financial position, financial performance, total 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 provisions of the Act for safeguarding 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 accuracy and completeness of the accounting records, relevant to
preparation and presentation of the financial statements that give a true and fair view and
are free from material misstatement, whether due to fraud or error.

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

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

Auditor''s Responsibilities for 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
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 decisions of users taken on the basis of these financial statements.

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

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

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

• Conclude on 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 we conclude that a material uncertainty exists,
we are required to draw attention in our auditor''s report to the related disclosures in
the financial statements or, if such disclosures are inadequate, to modify our opinion.
Our conclusions are based on the audit evidence obtained up to the date of our 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 whether 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 audit and significant audit findings, including any
significant deficiencies in internal control that we identify during our audit.

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

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

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor''s Report) Order, 2020 ("the Order")
issued by the Central Government of India in terms of Sub-section (11) of
Section 143 of the Act, and on the basis of such checks of the books and records
of the Company as we considered appropriate and according to the information
and explanations given to us, we give in the Annexure-A a statement on the
matters specified in paragraph 3 of the Order.

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

c) The Balance Sheet, 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 our opinion, the aforesaid Ind AS financial statements comply with the
accounting standards specified under section 133 of the Act;

e) On the basis of written representations received from the directors as on
31st March 2024 and taken on record by the Board of Directors, none of
the directors is disqualified as on 31st March, 2024, from being appointed
as a director in terms of sub section (2) of Section 164 of the Act;

f) With respect to adequacy of the internal financial control over financial
reporting of the Company and operating effectiveness of such control,
refer to our separate Report in Annexure ''B'';

g) With respect to other matters to be included in the Auditor''s Report in
accordance with the requirements of section 197(16) of the Act:

In our opinion and to the best of our information and according to the
explanations given to us, no remuneration has been paid by the Company
to its directors during the year.

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, 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 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.

iv. (a) As per the information and explanation given to us by the
management, 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) As per the information and explanation given to us by the
management, no funds have been received by the company from any
person or entity, including foreign entities ("Funding Parties"), with
the understanding, whether recorded in writing or otherwise, that the
company shall, whether, directly or indirectly, lend or invest in other
persons or entities identified in any manner whatsoever by or on
behalf of the Funding Party ("Ultimate Beneficiaries") or provide any
guarantee, security or the like on behalf of the Ultimate Beneficiaries;
and

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

v. The Company has paid dividend on Equity shares during the year is in
accordance with Section 123 of the Act, as applicable; and

vi. Based on our examination which included test checks, the company
has used accounting software for maintaining its books of account
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 our audit we
did not come across any instance of audit trail feature being tampered
with.

For M/s. Bharat Gupta & Co.

Chartered Accountants

Firm Regd. No. 131010W

UDIN: - 24136055BKAINW7096

Place: Mumbai BHARAT GUPTA

Dated: 17^th May, 2024 Proprietor

Membership No. 136055

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Mar 31, 2015

We have audited the accompanying financial statements of WEST LEISURE RESORTS LIMITED ("the Company"), which comprise the Balance Sheet as at 31 March 2015, the Statement of Profit and Loss, Cash Flow Statement and a summary of significant accounting policies and other explanatory information.

Management's Responsibility for the 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 financial statements that give a true and fair view of the financial position and financial performance 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 maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding 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 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

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 assessment of risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal financial controls 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, but not for the purpose of expressing an opinion on whether the Company has in place an adequate internal financial control system over financial reporting and the operating effectiveness of such controls. An audit also includes evaluating the appropriateness of the 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 standalone financial statements.

Opinion

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid Financial statements, give the information required by the 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 March 31, 2015,

b) in the case of the Statement of Profit and Loss, of the profit for the year ended on that date, and

(c) in the case of the Cash Flow Statement of the cash flows 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', issued by the Central Government of India in terms of sub-section [11] of section 143 of the Act (hereinafter referred to as the "Order") and on the basis of such checks of the books and records of the Company as we considered appropriate and according to the information and explanations given to us, we give in the Annexure a statement on the matters specified in paragraphs 3 and 4 of the Order.

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

c] The Company does not have any branches;

d] The Balance Sheet, the Statement of Profit and Loss and the Cash Flow Statement dealt with in the Report are in agreement with the books of account;

e] In our opinion, the aforesaid financial statements comply with the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies [Accounts] Rules, 2014;

f] On the basis of written representations received from the directors as on 31 March, 2015, taken on record by the Board of Directors, none of the directors is disqualified as on 31 March, 2015, from being appointed as a director in terms of Section 164(2] of the Act;

g] 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 our opinion and to the best of our information and according to the explanations given to us, we report that;

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 derivatives 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.

The Annexure referred to in Paragraph 1 of Report on other legal and regulatory requirements in our report to the members of the Company for the year ended 31st March, 2015.

We report that:

i. The Company has no fixed assets;

ii. The Company is engaged in trading of steel bars and due to the nature of the activity, it does not hold inventory of these items at any point of time; hence, the requirement under paragraph 3 (ii) of the Order is not applicable;

iii. The Company has not granted any loans, secured or unsecured during the year to companies, firms or other parties covered in the register maintained under section 189 of the Companies Act 2013 ("the Act"]; hence paragraph 3 (iii) of the Order is not applicable;

iv. In our opinion and according to the information and explanations given to us, there is adequate internal control system commensurate with the size of the Company and the nature of its business, for the purchase of inventory and fixed assets and for the sale of goods and services. During the course of our audit, we have not observed any continuing failure to correct major weaknesses in the internal control system;

v. The Company has not accepted any deposits from public during the year, and hence paragraph 3 (v] of the Order is not applicable;

vi. The Centra] Government has not specified under sub-section (1) of section 148 of the Act for the Company to maintain cost records and hence paragraph 3 (vi) of the Order is not applicable;

vii. (a) According to the information and explanations given to us and according to the records of the Company, the Company is regular in depositing with appropriate authorities undisputed statutory dues including income-tax, profession tax, cess and any other statutory dues applicable to it;

(b) According to the information and explanations given to us, no undisputed amounts in respect of the statutory dues referred above were outstanding as at 31st March, 2015 for a period of more than six months from the date they became payable:

[c] No amount is required to be transferred to investor education and protection fund in accordance with relevant provisions of the Act and the rules made thereunder;

viii. The Company has no accumulated losses as at 31st March, 2015 nor has it incurred any cash losses during the financial year and in the immediately preceding financial year;

ix. The Company has not borrowed any money from any financial institution or bank or through debentures and hence paragraph 3 [ix] of the Order is not applicable;

x. The Company has not given any guarantee for loans taken by others from banks or financial institutions and hence paragraph 3 [x] of the Order is not applicable;

xi. The Company has not obtained any term loans; hence paragraph 3(xi) of the Order is not applicable;

xii. According to the information and explanations given to us by the Management, we report that no fraud on or by the Company has been noticed or reported during the course of audit.

For Rajendra K. Gupta & Associates Chartered Accountants Regd. No. X08373W

Partnerritajendra Kumar Gupta Partner Membership No, 009939 Place: Mumbai Date: 29.05.2015

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Mar 31, 2014

We have audited the accompanying financial statements of WEST LEISURE RESORTS LIMITED (Formerly known as West Leisure Resorts Private Limited) ("the Company"), which comprise the Balance Sheet as at March 31, 2014 and the Statement of Profit and Loss and 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

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

Auditor's Responsibility

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

Opinion

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

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

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

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

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order, 2003 ("the Order") issued by the Government of India in terms of Sub-section (4A) of Section 227 of the Act, we give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the Order.

2. As required by section 227(3) of the Act, we report that :

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

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

c) The Balance Sheet, 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 Balance Sheet, Statement of Profit and Loss and Cash Flow Statement comply with the Accounting Standards notified under the Companies Act, 1956 read with General Circular 15/2013 dated 13th September, 2013, issued by the Ministry of Corporate Affairs, in respect of Section 133 of the Companies Act, 2013;

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

ANNEXURE TO THE AUDITOR'S REPORT

(Referred to in paragraph 1 of our report of even date)

On the basis of such checks as we considered appropriate and In terms of the information and explanations given to us, we state that: -

1. The Company has no fixed assets;

2. The Company is engaged into trading of cloth and due to the nature of transactions, it does not hold inventory of these items at any point of time, accordingly, the requirement under paragraph 4(ii) of the Order is not applicable;

3. (a) The Company has not granted any loans, secured or unsecured to companies, firms or other parties In the register maintained under section 301 of the Act;

(b) The Company has not taken any loans, secured or unsecured from Companies, firms or other parties In the register maintained under Section 301 of the Act;

4. In our opinion there Is adequate internal control procedure commensurate with the size of the Company and the nature of its business. There is no continuing failure to correct major weaknesses in internal control;

5. (a) In our opinion and according to the information and explanations given to us, particulars of contracts or arrangements referred to in Section 301 of the Act have been entered in the register required to be maintained under that Section;

(b) In our opinion and according to the information and explanations given to us, the transactions made in pursuance of such contracts or arrangements and exceeding the value of Rupees Five Lakhs in respect of any party during the year, have been made at prices which are reasonable, having regard to prevailing market prices at the relevant time;

6. The Company has not accepted any deposits from the public;

7. The Company has an internal audit system commensurate with the size and nature of its business;

8. Since the Company is not engaged in production of any goods, paragraph 4 (viii) of the Order is not applicable;

9. (a) The Company is regular in depositing undisputed statutory dues with the appropriate authorities. There were no undisputed amounts payable in respect of statutory dues as at 31st March,2014 for a period of more than six months from the date they became payable;

(b) There were no outstandings of statutory dues on account of any dispute at the last day of the financial year 2013-14;

10. The Company has no accumulated losses as at March 31,2014 nor has it incurred any cash losses during the financial year and in the immediately preceding financial year;

11. The Company has not made any borrowings from any bank or financial institution and through debentures;

12. The Company has not granted any loans or advances on the basis of security by way of pledge of shares, debentures and other securities;

13. The Company is not a chit/nidhi/ mutual benefit fund/society;

14. The Company is not dealing or trading in shares, securities, debentures and other investments. The investments are held by the Company in its own name except Investment in Preference Shares of a Company acquired on the last working day of the year (since transferred in Company's name);

15. The Company has not given any guarantee for loans taken by others from banks or financial institutions;

16. The Company has not obtained any term loan;

17. Funds raised on short term basis have not been used for long term investments;

18. The Company has not made any preferential allotment of shares during the year to parties and companies covered In the register maintained u/s 301 of the Act;

19. The Company has not issued any debentures and hence, the question of creating security therefor does not arise;

20. The Company has not raised any money by public issue during the year;

21. No fraud on or by the Company has been noticed or reported during the course of our audit.

For RAJENDRA K.GUPTA & ASSOCIATES CHARTERED ACCOUNTANTS Regd No. 108373 W

RAJENDRA KUMAR GUPTA PARTNER M.NO.009939 Place : Mumbai Date : 30/05/2014