We have audited the accompanying standalone financial statements of Amanaya Ventures Limited
(the “Company”), which comprise the Balance Sheet as at 31^st March 2024, and the Statement of
Profit and Loss (including other comprehensive income), statement of changes in equity and
statement of Cash Flows Statement for the year then ended, and notes to financial statements
including a summary of 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 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 March 31, 2024, and its
profit, total comprehensive income, changes in equity and its 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 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 Act and the rules
thereunder, and we have fulfilled our other ethical responsibilities in accordance with these
requirements and the code of ethics. We believe that the audit evidence we have obtained is
sufficient and appropriate to provide a basis for our opinion.

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.

The Company’s board of directors is responsible for the preparation of the other information. The
other information comprises of the information included in the management discussion and
analysis, boards report including annexure to board report, corporate governance and shareholder
information, but does not include the standalone financial statements and our auditor’s report
thereon.

Our opinion on the 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 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 in formation; 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 are responsible for the matters stated in section 134 (5) of the
Companies Act 2013(‘the Act”) with respect to the preparation of these standalone financial
statements that give a true and fair view of the financial position, financial performance, changes
in equity and cash flows of the Company in accordance with the accounting principles generally
accepted in India, including the Ind AS specified undersection 133 of the Act read with the
Companies (Indian Accounting Standards) Rules, 2015 as amended. 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 implementation and maintenance of
adequate financial internal 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, 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 Boards of Directors are responsible for overseeing the Company’s financial reporting process.

Our obj ectives 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 auditor’s report
that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee
that an audit conducted in accordance with SAs will always detect a material misstatement when
it exists. Misstatements can arise from fraud or error and are considered material if, individually
or in the aggregate, they could reasonably be expected to influence the economic decisions of users
taken on the basis of these 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
the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances. Under section 143(3)(i) of the Companies
Act, 2013, we are also responsible for expressing our opinion on whether the company has
adequate internal financial controls system in place and the operating effectiveness of such
controls

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by 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 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 auditor’s report. However, future events or conditions
may cause the Company to cease to continue as a going concern.

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

Materiality is the magnitude of misstatements in the standalone financial statements that,
individually or in aggregate, makes it probable that the economic decision of a reasonably
knowledgeable user of the standalone financial statements may be influenced. We consider
quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in
evaluating the results of our work and (ii) to evaluate the effect of any identified misstatements in
the standalone financial statements.

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.

Report on Other Legal and Regulatory Requirements

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 B statement on the matters specified in paragraphs 3 and 4 of the Order to
the extend applicable.

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 purpose 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, Statement of Profit and Loss, the statement of changes in Equity,
the statement of Cash Flows and notes to the standalone financial statements 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 Ind
AS specified under Section 133 of the Act, read with Rule 7 of the Companies
(Indian Accounting Standards) Rules, 2014 as amended;

e) As per the management representation we report,

- no funds have been advanced or loaned or invested by the company to or in any
other person(s) or entities, including foreign entities (“Intermediaries”), with the

understanding that the intermediary shall whether directly or indirectly lend or
invest in other persons or entities identified in any manner by or on behalf of the
Company ( Ultimate Beneficiaries) or provide any guarantee, security or the like
on behalf of ultimate beneficiaries.

- no funds have been received by the company from any person(s) or entities
including foreign entities (“Funding Parties”) with the understanding that such
company shall whether, directly or indirectly, lend or invest in other persons or
entities identified in any manner by or on behalf of the funding party (ultimate
beneficiaries) or provide any guarantee, security or the like on behalf of ultimate
beneficiaries.

- Based on the audit procedures performed, we report that nothing has come to our
notice that has caused us to believe that the representations given under sub-clause

(i) and (ii) by the management contain any material mis-statement.

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

g) 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 Annexure A.

h) With respect to the other matters to be included in the Auditor’s Report in
accordance with the requirements of section 197(16) of the Act, as amended: In our
opinion and to the best of our information and according to the explanations given
to us, the remuneration paid by the Company to its directors during the year is in
accordance with the provisions of section 197 of the Act.

i) 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 knowledge and belief and according to the
information and explanations given to us:

(1) The Company does not have the pending litigations which would impact
its financial position in future.

(2) The Company did not have any long-term contracts including derivative
contracts; as such the question of commenting on any material foreseeable
losses thereon does not arise.

(3) The Company has no transferring amounts, required to be transferred to
the investor education and protection fund by the company.

For R.K. DINGLIWAL& ASSOCIATES
CHARTERED ACCOUNTANTS

Sd/-

CA R.K Dingliwal
Proprietor

Membership number: 088922
Firm’s registration number: 010609N
UDIN: 24088922BKFXKS1911
Date:- 15 May,2024.

Place: Amritsar