We have audited the accompanying Standalone financial statements of M/s. Max Heights
Infrastructure Limited which comprises the Balance Sheet as at March 31, 2025, the
Statement of Profit and Loss, and statement of cash flows for the year then ended, and notes
to the financial statements, including 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 standalone 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, of the state of affairs of the Company as at March 31,
2025, and profit/loss, 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.

Information other than the financial statements & Auditor's Report thereon

The company's management and board of directors is responsible for the other information.
The other information comprises the information included in Board Report but does not
included the financial statements and our auditor's report thereon. The Board Report is
expected to be made available to us after the date of this auditor's report.

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 report 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.

When we read the Board Report, if we conclude that there is material misstatement therein,
we are required to communicate the matter to those charged with governance and if
required issue a revised Audit report on financial statement.

Responsibility of Management for the Standalone 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 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 accounting Standards
specified under section 133 of the Act. 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
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 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.

That the Board of Directors is also responsible for overseeing the company's financial
reporting process

Auditor's Responsibility 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:

• 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 Act, we are also responsible for expressing our opinion on whether the
Company has in place adequate internal financial controls with reference to
standalone financial statements 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 and Board
of Directors in the standalone financial statements.

• Conclude on the appropriateness of management's and Board of Director'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.

• 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 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
auditors' 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

As required by the 'Companies (Auditors 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” statement on the matters specified in paragraphs 3
and 4 of the Order, to the extent applicable.

As required by Section 143(3) of the Act, we report that:

a. 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

b. The Balance Sheet, the Statement of Profit and Loss, and the Cash Flow Statement
dealt with by this Report are in agreement with the books of account

c. In our opinion, the aforesaid standalone financial statements comply with the
Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the
Companies (Accounts) Rules, 2014.

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

e. 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 B".

f. 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 the impact of pending litigations on its financial
position in its financial statements

ii. The Company has made provision, as required under the applicable law or
accounting standards, for material foreseeable losses, if any, on long-term
contracts including derivative

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, as disclosed in 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 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, as disclosed in notes to the accounts, 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) Since, the Company has neither paid or declared any dividend during the
year nor proposed any dividend for the year, hence, reporting requirement
of clause (f) of rule 11 of the Companies (Audit and Auditors) Rules, 2014 are
not applicable on the Company.

vi) Based on our examination, which included test checks, the Company has
used accounting software for maintaining its books of account for the
financial year ended March 31,2025 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 the audit trail feature being
tampered with and the audit trail has been preserved by the company as per
the statutory requirements for record retention.

With respect to the matter to be included in the Auditors' Report under section 197(16)
of the Act:

In our opinion and according to the information and explanations given to us, the
remuneration paid by the Company to its directors during the current year is in accordance
with the provisions of section 197 of the Act. The remuneration paid to any director is not in
excess of the limits laid down under section 197 of the Act. The Ministry of Corporate Affairs
has not prescribed other details under section 197(16) of the Act which are required to be
commented upon by us.

For Chitranjan Agarwal & Associates
Chartered Accountants
F.R.N. 029812N

Sd/-

Chitranjan Agarwal
Partner
M. No. 537391
Place: New Delhi

Date: 23-05-2025

UDIN: 25537391BMNRWY6006