Auditor Report of Methodhub Software Ltd.

Mar 31, 2024

We have audited the accompanying financial statements of M/s. METHODHUB SOFTWARE
PRIVATE LIMITED ("the Company”), which comprise the Balance Sheet as at 31^sl March
2024, the Statement of Profit and Loss for the year ended 31^st March 2024, Cash Flow Statement
for the year then ended, and 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 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 accounting
principles generally accepted in India, of the state of affairs of the Company as at March 31,
2024, and its financial performance, and its cash flow''s for the year ended on that date.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing specified under section
143(10 ) of the Companies Act, 2013 ("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 together with the ethical requirements
that are relevant to our audit of the financial statement under the provisions of the Act. and the
Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with the
requirements and Code of Ethics. We believe that the audit evidence we have obtained is
sufficient and appropriate to provide a basis for our opinion.

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

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 financial statements and our auditors’ 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 in the audit, or otherwise appears to be
materially misstated. If, based on the work we have performed on the other information obtained
prior to the date of this auditor’s report, 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 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, 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 of the Act. This responsibility
also includes the maintenance of adequate accounting records in accordance with the
provision of the Act for safeguarding of the assets of the Company and for preventing and
detecting the 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 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.

In preparing the financial statements, the Board of Directors 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 the Board of Directors
either intends to liquidate the Company or to cease operations, or has no realistic alternative but
to do so.

The Board of Directors is responsible for overseeing the company’s financial reporting process.
Auditor’s Responsibilities 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
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:

(a) 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.

(b) Obtain an understanding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances. But not for the purpose of
expressing an opinion on the effectiveness of the entity’s internal controls (if EFCs not
applicable)

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

(d) 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.

(e) 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.

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.
we give in the “Annexure A" a statement on the matters specified in paragraphs 3 and 4
of the Order.

2. As required by Section 143(3) of the Act. based on our audit, we report that:

a. We have sought and obtained all the information and explanations, which to the
best of our know ledge 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 Statement of Profit and Loss dealt with by this report are in
agreement with the books of account.

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 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 financial controls over financial

reporting of the Company and the operating effectiveness such controls, we

give in the “Annexure B” a statement on the same

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:

The company, being a Private Limited Company, the provisions of section 197 of
the Act, is not applicable.

h. With respect to the other matters included in the Auditor''s Report in accordance
with Rule 11 of the Companies (Audit and Auditor''s) Rules.2014 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 derivatives
contracts for which there were any material foreseeable losses

iii. There has been no delay in transferring amounts, 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, no funds (which are material either individually or in the aggregate) 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 entity (“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) The Management has represented, that, to the best of its knowledge and
belief, no funds (which are material either individually or in the aggregate) have
been received by the Company from any person or entity, including foreign
entity (“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;

(c) Based on the 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 the representations under sub-clause (i) and (ii) of Rule 11(e),
as provided under (a) and (b) above, contain any material misstatement.

V. (a) The dividend has not been declared by the Company during the year is in
accordance with Section 123 of the Act. as applicable.

(b) The interim dividend has not been declared by the Company during the
year.

(c) The Board of Directors of the Company has not proposed any dividend for
the year.

For N R Krishnamoorthy & Co,

Chartered Accountant

FRN: 001492S

Digitally signed by
NELLICHERY NELLICHERY

RAJAGOPALAN RAJAGOPALAN

krishnamoorthy

Date: 2024.07.13

18:26:27 05''30''

N R Krishnamoorthy
Partner

Membership No: 020638

UDIN: 24020638BKCQZM2371

Place: Chennai
Date: 13.07.2024