Auditor Report of DC Infotech and Communication Ltd.

Mar 31, 2025

We have audited the accompanying
financial statements of D C Infotech &
Communication Limited, which
comprise the Balance Sheet as at 31^st
March 2025, and the Statement of
Profit and Loss (Including Other
Comprehensive Income) and Cash Flow
Statement and the statement of
Changes in Equity for the period ended,
and notes to the 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
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
inconformity 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, 2025
the profit and 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 Companies Act, 201 3
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, we
do not provide a separate opinion on
these matters.

There are no Key Audit Matters.

Information Other than the Financial
Statements and Auditor’s Report
Thereon

The Company''s Board of Directors is
responsible for the preparation of the
other information. The other
information comprises the information
included in the Management Discussion
and Analysis, Board''s Report including
Annexures to Board''s Report, but does
not include the financial statements and
our auditor''s report thereon. These
reports are expected to be made
available to us after the date of our
auditor''s report.

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
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
in the audit, or otherwise appears to be
materially misstated.

When we read the other information
included in the above reports, if we
conclude that there is material
misstatement therein, we are required
to communicate the matter to those
charged with governance and
determine the actions under the
applicable laws and regulations.

Management''s Responsibility for the
Financial Statements

The Company''s Board of Directors is
responsible for the matters stated in

section 1 34(5) of 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, 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
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 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 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.

Those Board of Directors are also
responsible for overseeing the
Company''s financial reporting process.

Auditor''s Responsibility

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 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
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:

• Identify and assess the risks of
material misstatement of the
standalone 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
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.

Materiality is the magnitude of
misstatements in the standalone
financial statements that, individually or
in aggregate, makes it probable that
the economic decisions of a reasonably
knowledgeable user of the 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 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.

From the matters communicated with
those charged with governance, we
determine those matters that were of
most significance in the audit of the
standalone 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
section 143(11) of the Act, we give in
"Annexure A", a statement on the
matter specified in the paragraph 3
and 4 of the Order.

2. As required under provisions of
section 143(3) of the Companies
Act, 2013, we report that:

a. We have obtained all the
information and explanations
which to the best of our
knowledge and belief where
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 and Statement
of Profit and Loss including Other
Comprehensive Income Statement
of Cash Flow and Statement of
Changes of Equity dealt with this
report are in agreement with the
books of account;

d. In our opinion, the Balance Sheet
and Statement of Profit and Loss
comply with the Ind AS specified
in section 133 of the Act, read
with relevant rule issued
thereunder.

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

f. With respect to the adequacy of

the internal financial controls over
financial reporting of the
company and operating

effectiveness of such controls,
referred to our separate report in
"Annexure B".

g. 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 1 97 of the
Act.

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

(a) The Company has disclosed the
impact of pending litigations as
at 31^st March 2025 on its
financial position in its
standalone financial statements -
Refer Note (vii) of Annexure - A
to the standalone financial
statements

(b) The Company did not have any
long-term and derivative
contracts as at March 31, 2025.

(c) There were no amounts which
were required to be transferred
to the Investor Education and
Protection Fund by the Company
during the year ended March 31,
2025.

( d ) The m a n a ge m e n t h a s ;

(i) represented that, to the best of

its knowledge and belief, 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:

• directly or indirectly lend or
invest in other persons or
entities identified in any
manner whatsoever ("Ultimate
Beneficiaries") by or on behalf
of the Company or

• Provide any guarantee,
security or the like to or on
behalf of the Ultimate
Beneficiaries.

(ii) 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 ("Funding
Parties"), with the

understanding, whether

recorded in writing or
otherwise, that the Company
shall:

• directly or indirectly, lend or
invest in other persons or
entities identified in any
manner whatsoever ("Ultimate
Beneficiaries") by or on behalf
of the Funding Party or

• provide any guarantee,
security or the like from or on
behalf of the Ultimate
Beneficiaries; and

(iii) Based on such audit
procedures as considered
reasonable and appropriate in
the circumstances, nothing has
come to our notice that has
caused us to believe that the
representations under

subclause (d) (i) and (d) (ii)
contain any material mis¬
statement.

(e) The company has not neither
declared nor paid any dividend
during the year under Section
123 of the Act.

(f) Proviso to Rule 3(1) of the

Companies (Accounts) Rules,
201 4 for maintaining books of
account using accounting
software which has a feature of
recording audit trail (edit log)
facility is applicable to the
Company with effect from April
1 , 2023. Based on our

examination, which included test
checks, and other generally
accepted audit procedures
performed by us, we report that
the company has used an
accounting software for
maintaining its books of account

which has a feature of recording
audit trail (edit log) facility 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 D G M S & Co.

Chartered Accountants

Hiren J Maru

Pa rtner

M. No.115279

FRN:0112187W

UDIN: 251 1 5279BMIQCG2556

Place: Mumbai

Date: 28^th May 2025

---

Mar 31, 2024

We have audited the accompanying financial statements of D C Infotech & Communication Limited, which comprise the Balance Sheet as at 31st March 2024, and the Statement of Profit and Loss (Including Other Comprehensive Income) and Cash Flow Statement and the statement of Changes in Equity for the period ended, and notes to the 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 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 inconformity 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 the profit and 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 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.

There are no Key Audit Matters.

Information Other than the Financial Statements and Auditor''s Report Thereon

The Company''s Board of Directors is responsible for the preparation of the other information. The other information comprises the information included in the Management Discussion and Analysis, Board''s Report including Annexures to Board''s Report, but does not include the financial statements and our auditor''s report thereon. These reports are expected to be made available to us after the date of our auditor''s report.

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 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 in the audit, or otherwise appears to be materially misstated.

When we read the other information included in the above reports, if we conclude that there is material misstatement therein, we are required to communicate the matter to those charged with governance and determine the actions under the applicable laws and regulations.

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 Act with respect to the preparation of these standalone 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 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 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 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.

Those Board of Directors are also responsible for overseeing the Company''s financial reporting process.

Auditor''s Responsibility

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 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 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:

• Identify and assess the risks of material misstatement of the standalone 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 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.

Materiality is the magnitude of misstatements in the standalone financial statements that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the 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 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.

From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the standalone 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 section 143(11) of the Act, we give in "Annexure A", a statement on the matter specified in the paragraph 3 and 4 of the Order.

2. As required under provisions of section 143(3) of the Companies Act, 2013, we report that:

a. We have obtained all the information and explanations which to the best of our knowledge and belief where 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 and Statement of Profit and Loss including Other Comprehensive Income Statement of Cash Flow and Statement of Changes of Equity dealt with this report are in agreement with the books of account;

d. In our opinion, the Balance Sheet and Statement of Profit and Loss comply with the Ind AS specified in section 133 of the Act, read with relevant rule issued thereunder.

e. 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 section 164(2) of the Act.

f. With respect to the adequacy of the internal financial controls over financial reporting of the company and operating effectiveness of such controls, referred to our separate report in "Annexure B".

g. 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.

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

(a) The Company has disclosed the impact of pending litigations as at 31st March 2024 on its financial position in its standalone financial statements -Refer Note (vii) of Annexure - A to the standalone financial statements

(b) The Company did not have any longterm and derivative contracts as at March 31,2024.

(c) There were no amounts which were required to be transferred to the Investor Education and Protection Fund by the Company during the year ended March 31,2024.

(d) The management has;

(e) represented that, to the best of its knowledge and belief, 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:

(f) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever ("Ultimate Beneficiaries") by or on behalf of the Company or

(g) Provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.

(ii) 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 ("Funding Parties"), with the understanding, whether recorded in writing or otherwise, that the Company shall:

• directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever ("Ultimate Beneficiaries") by or on behalf of the Funding Party or

• provide any guarantee, security or the like from or on behalf of the Ultimate Beneficiaries; and

iii. Based on such audit procedures as considered reasonable and appropriate in the circumstances, nothing has come to our notice that has caused us to believe that the representations under subclause

(d) (i) and (d) (ii) contain any material misstatement.

(e) The company has not neither declared nor paid any dividend during the year under Section 123 of the Act.

(f) Proviso to Rule 3(1) of the Companies (Accounts) Rules, 2014 for maintaining books of account using accounting software which has a feature of recording audit trail (edit log) facility is applicable to the Company with effect from April 1, 2023. Based on our examination, which included test checks, and other generally accepted audit procedures performed by us, we report that the company has used an accounting software for maintaining its books of account which has a feature of recording audit trail (edit log) facility 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 D G M S & Co. Chartered Accountants

Hiren J Maru Partner

Place: Mumbai

Date: 29th May 2024 M. No. 11 5279

FRN: 0112187W UDIN:24115279BKBWJV8162