We have audited the standalone financial statements of Ace Edutrend Limited (“the Company”), which
comprise the Standalone Balance Sheet as at March 31, 2026, and the Standalone Statement of Profit and
Loss (including other comprehensive income), Standalone Statement of Changes in Equity and Standalone
Statement of Cash Flows for the year then ended, and notes to the standalone financial statements,
including a summary of the significant accounting policies and other explanatory information (hereinafter
referred to as “the standalone financial statements”).

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 (“the
Act”) in the manner so required and give a true and fair view in conformity with the accounting principles
generally accepted in India, of the state of affairs of the Company as at March 31, 2026, and loss and other
comprehensive income, changes in equity and its cash flows for the year ended on that date subject to the
matters described under “ Basis for Qualified Opinion” section of our report.

Basis for Qualified Opinion

a) . In the absence of appropriate evidence and underlying documents/agreements/contracts or

independent report of the third party authority we are unable to comments on the appropriateness
of the Loan & Advances, Trade receivables and Trade Payables.

b) . We draw your attention that in the absence of Fixed Asset Register and no physical verification

report by the management / third party, we are unable to comment on the existence of the Fixed
Assets.

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

Key Audit Matters

The 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.

Note 15(c) to the Standalone Financial Statements- “Provision for Contingencies” as at March 31, 2026 the
Company has exposures towards litigations relating to various matters as set out in the aforesaid Notes.

Significant management judgment is required to assess such matters to determine the probability of
occurrence of material outflow of economic resources and whether a provision should be recognized, or a
disclosure should be made. The management judgment should also supported with legal advice in certain
cases as considered appropriate.

As the ultimate outcomes of the matters are uncertain and the positions taken by the management are based
on the application of their best judgment relating to interpretation of law regulations, it is considered to be
a Key Audit Matter.

Other Information

The Company’s management and Board of Directors are responsible for the other information. The other
information comprises the information included in the Company’s annual report, but does not include the
standalone financial statements and our auditors’ report thereon.

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

In connection with our audit of the standalone financial statements, our responsibility is to read the other
information and, in doing so, consider whether the other information is materially inconsistent with the
standalone financial statement or our knowledge obtained in the audit or otherwise appears to be materially
misstated. If, based on the work we have performed, we conclude that there is a material misstatement of
this other information, we are required to report that fact. We have nothing to report in this regard.

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 IND AS 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(IND AS)
specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014.

This responsibility also includes maintenance of adequate accounting records in accordance with the
provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting
frauds and other irregularities; selection and application of appropriate accounting policies; making
judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of
adequate internal financial controls that were operating effectively for ensuring the accuracy and
completeness of the accounting records, relevant to the preparation and presentation of the standalone
financial statements that give a true and fair view and are free from material misstatement, whether due to
fraud or error.

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

Auditor’s Responsibility

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

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

i. Identify and access the risk of material misstatement of the standalone financial statements,
whether due to fraud or error, design and perform audit procedures responsive to those risk, 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.

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

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

iv. Conclude on the appropriateness of management’s use of the going concern basis of accounting
and, based on the audit evidence obtained, whether a material uncertainty exists related to events
or conditions that may cast significant doubt on the Company’s ability to continue as a going
concern. If we conclude that a material uncertainty exists, we are required to draw attention in our
auditor’s report to the related disclosures in the standalone financial statements or, if such
disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit
evidence obtained up to the date of our auditor’s report. However, future events or conditions may
cause the Company to cease to continue as a going concern.

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

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
safeguard.

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 Companies Act, 2013, 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 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 (including other comprehensive income), the
statement of change in equity and the Cash Flow Statement dealt with by this Report are in
agreement with the books of account, subject to the matter described under “basis for qualified
opinion” section of our report.

d) 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.

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

f) According to the information and explanation given to us, the company had not paid managerial
remuneration thus Section 197 of the Companies Act.2013 is not applicable.

g) With respect to the adequacy of the internal financial controls with reference to standalone
financial statements of the Company and the operating effectiveness of such controls, refer to our
separate Report in “Annexure B”.

3. 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 has disclosed pending litigations on its financial statements Refer point 15 (c ) of
the financial statement.

(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) 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 kind of funds) by the
company to or in any other persons 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 invested in other person or entities identified in any
manner whatsoever by or on behalf of the Company (ultimate beneficiaries) or provide any
guarantee, security or the like on behalf of the ultimate beneficiaries’

(b) the management has represented that to the best of its knowledge and belief other than as
disclosed in the notes to the accounts, no funds have been received by the company from any
person or entities 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 person 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) based on such audit procedures that have been considered reasonable and appropriate in the
circumstances, nothing has come to our notice that has caused us to believe that
representations, as provided under (a) and (b) above, contain any material misstatement.

d) Based on our examination, which included test checks, the company has used accounting
software for maintaining its books of accounts for financial year ended March 31^st 2026, Which
has feature of recording Audit Trails (Edit Log) facility and same has operated through-out the
year for all relevant transaction recorded in the software. Further during the course of the our
audit we did not come across any instance of the audit trails features be tempered with.

For Asha & Associates
Chartered Accountants
FRN:024773N

Sd/-

CA Asha Taneja
M.No. 096107

UDIN: 26096107PGPZFV2027

Place: New Delhi
Date: 27/05/2026