We audited the aeeonqvtnying financialslaiementsof l nienmnwtweSotaioiis Limited ifbmjwrly
kncvrt ii us i mcoftiincrtc eSolutions Private I imiicdl (“*the Company”!. which comprise the Balance
Tied ns ill Match 'I 202*1. die Siateincnt nt" Profit and Loss, including ihe statement olOihcr
Compreftc naive Income the Cash Flow SiaiofitCrtt and the Statement oi Changes in Equity far the year
then ended, and nplts to the financial statements, including ;i summary of nuiieriul accounting policies
and other explu muon in lorn 1 al io(t
In our opinion ;iml Ip the best ul onr iril'iuniatioii and according lo ifoe explanations given to us. the
aforesaid financial statem^nis give ilk- minima lion required by the Com panics Act, 2013, as amended
(Ý‘the Vi "I in the manner so required and ghe a true and fair view in con form it} with the accounting
principles generally accepted rn India. ofthe stele of affairs of'the Company us at March M 2024, Its
profit Including other eomprrhensiv e income, its cash Hows and the changes in equity fbr the year ended
on dial date.
Basis for Opinion
e condLcled our audit of the financial statcmciUs in accordance with ttiL- Standards mi A milling (S \sj.
ns specified under action I I3( of die Act, Our responsibilities under those Standards Lire further
described in the "Auditor's Responsibilities Ibr the Audit ol the I inane in I Statements section of onr
report. We are independent of the Company in accordance v\ ith ihe 'Code ol Ethics' issued by llic
[nslidile of Cluirlem! Accountants ofltidta togcilier whh the ethical requlremenls Lltui arc relevant <o
our audit or ihe fihanci.nl *. intern cuts under flic provisions of the Act and die Rules thereunder, tiod we
have fulfilled our ptlivr ethical responsibilities in accordance widi ilicsc requirements and ihe Lode ol
t tliik. We believe dial tlie audit evidence we have obtained i-. sufficient and appropriine to provide a
luisiv for mit audii opinion on the financial statements.
Other I it for nation
The t ompany a Board ol Directors is responsible for the other in formation, Ilie othei information
Comprises 111 v." jnlbmiatkm included in the Director's Report, hut does not include ihe si and a lone
financial sUitemems and our auditor's report thereon.
Our opinion on the financial statements does not cot ec the other inhumation and we do not express am
1 o rm of ass u n i nee cone I u s ion I ti e re on.
In conned ton witii our audii of the (inane iu I slataftcnls, pur responsibility i> to read the other
information and. in doing so, consider whether such other information is materially inconsistent wilh
die financial staicmcnts oj our knowledge obtained in ihe audit or otherwise appear U' In- nuitefinliy
missiutcd. If, based on the work have performed. w# conclude that there is a material miuautcment
of this other Informal ion. we are required lo report iluii fad- We haw nothing lo report in (his regard.
Hie Company's Hoard of Directors is responsible lor the tnalters ^I:iLi_-lE in see lion I VJ(5| of thi_- Ad
with ropeci to the preparation of these fiducial statements that giv c a true and fairy iew ol the financial
position, financial performance i no hiding other comprehensive income, cash flows and changes in
equity of the Company in accordance wiih the accounting principles generalllv accepted in India,
ted tiding the Indian Accounting Standards (Ibd AS) specified under section 133 of the Act read wiih
die Cumpaniw (Indian Accounting Standards) Rules. 2015 . as amended, specilled under section I Cl
i>r 1 he Act „ ftes responsi hi I ity al so i rrc [tides lira i ntenilncc o f adequate account i n g records in accordance
with the provisions of the Act Idr safeguarding uftlie assets of the Company and for preventing and
deleting frauds, fibd other irregularities: selection and application ol appropriate accounting policies;
making judgments and estii'milo that are reasonable and prudent: and the design, implementation and
maintenance of adequate internal financial controls, that w ere opera) ing efiectivdy lor ensuring the
accuracy and completeness of die account in g records, roles ant to the preparation and presentation of
the financial statements that cite a true and lair view amt arc live from material nimaaiemeiit. whether
due io fraud or error.
In preparing the linuncial statements, management is responsible fur assessing the Company's ability
to continue as a going concern, disclosing, as applicable, matters related io going concern and using the
going concern basis of accounting unless management cither intends to liquidate the t ompnn^ or to
cease operations, oi has no realistic ultemnliv e hut to do so.
I hose charged wiih gnvernan£i£arc also responsible for overseeing ilie Conqioiiy financial reporting
process,
Vudi tor's kfsponsi bitiiti's for the Audit of the Financial Statements
t Jijr ob jectives ore to obtain reasonable assurance about whether the financial statements as a whole are
free from material ntisstatettteiH. whether due io fraud nr error, and to issue on auditor’s report ilia;
include-, our opinion. Reasonable assurance is a high level of assurance, bin is not a gnamutlee Quit an
audit conducted in accordance with SAs will always delect a material missiutement when ii exists.
Miss tale munis can arise from fraud or error and arc considered material if. individually or in ihe
aggregate. they jtwtld reasonably be expected to influence the economic decisions of users taken on the
basis of these financial statements.
As pan id' an audit in accordance with SAs, we exercise professional judgment and maintain
professional skepticism throughout, the audit. We also:
Ý Idculify and assess, lilt risks of materia I misstatement ol the financial statements, whether due to
fraud or error design mid perform audit procedures responsive IO those risks, and obtain audit
evidence that is sufficient ami appropriate lo provide a basis lor our opinion. Ihe risk id I lot
detecting a material misstatement resulting Iforti ftaml is higher than formic resulting from erroi.
as fraud may involve collusion, forgery, intentional omissions, misrepresentation;;, or the override
tif internal control.
* Oblate an understanding o f internal control releva n t to the and ii i n under in des ign audit procedure s
that are appropriate in the circumstances. I1 tider section IÝ)'[.'«ij of the Act. we are also
responsible for expressing our opinion on wiietlier ilie Company has adequate inicmni financial
controls with reference io limmciat si at tin eats in place and the operating effectiveness of such
controls.
* Evaluate the appropriateness of accounting policies used and the reasonableness ol accounting
estimates and related disclosures made by management.
Ý Conclude on the appropriateness of management''* use Of the going concern basis oi accounting
und. bused on lbs audit ev idtnce obtained. Aether a material uncertainly cxisis rcluicd to evens
or conditions dial may casi significant doubt on the C ompany's ability to comitate us a going
concetti. If WO conclude that a material uncertainly csisi*. we ore required to draw attention inmir
auditor's report (o the related disclosures in Utc financial statements or, if sul-H disclosures are
inadequate, to mod'tlk olir npfltkm. Our conclusions are based on the audit e\ idienec obtained up to
i lie dale of.....-auditor's report. However, linure events or conditions may cause the tom party to
cease 1o continue os a going concern.
* I ugluate die overall pi esc n tot ion, strueimv and content of the fttancinl -intemeiu*. including the
disclosures, and whether the financial siaicmerns represent the underlying irunsutaions and events
in a manner that achieves fair present a Lion.
We communkiite with those charged with guvernuhec regarding, among other inmicrv the planned
Scope aiul liming of the audit and sigmfieuni audit ladings, Including any signillcaiu deliciencics in
internal control Mint we identify during our audit
\\ c also pros ide those charged w hh governance w hit a slate men 1 that we have complied vv iilt re lev ant
ethical requirement* regarding independence, and to coinimmicute With them all relationships and other
matters iltai may reasonably lie thought lo bear on our independence, and whore applicable, related
safeguards.
Kepurl un Other l.egal and Rcgututor} Requirements
I As required by the Companies I Auditor's Repdri)i Jrdcr, >-()Ý( "die < >rder t. issued by the C ciiiral
< iov eminent of India in terms of slili-sec.lipn (Lit ol section 143 ot the VeU vve give in the
" \iinexure 1"a statement on Ik matters specified in paragraphs 3 and 4 of the Holer,
y As required bv Section 143(3)ol lilt \et. vve report. It' the extent applicable. that;
(:it We have sought mid obtained till the informal imi and explanations wliieh it' the best Ý'( our
know ledge and be I id’ were necessary lor the purposes ol our audit:
(h) In our opinit'll, proper hooks ol accouni as required hy law have been kept by the (.'utnpany so
far as it appears Iron otir examination of those books except for the matters stated iti the
paragraph y(t)jVl) Mow on reporting under Rule I l{g):
(ei I lie Balance Sheet, the Statement of Profit and Loss including ihe Smtciiietil ol Other
Comprehensive income. the ( ash 1 low Statement and Statement of Changes in 1 qniix dejill
w nil by this Report are in agreement vv iih the I Kinks ot account:
id) In our op In imt. i he aforesaid financial statements comply vviih the Accounting Standards
sped lied under Section 123 of the Act. read vviih Cotnpfiiiies (Indian Accounting Standards)
jpftjlex*15. us amended. specified under section 133 di Ihc Act:
ie) On the hixis of the written representations received from the directors as on March 31. 311-4
taken nn record by the Board of Directors, none of the directors is disqualified a-, on
March 31. Hoy t from being appointed asadtr^uic^ tonri>ofStviiiJti tb4 Tio! ihc An:
(f) \\ ith respect Ls> the adequacy of tin- internal linailciat controls with re lerente to these financial
statements and the operating elVcctivencSs ol such eonlrols, refer to our separate Report In
"Annex lire 2” lo ilns report:
(£) Jn our opin ion. the managerial renumertuinn for llhr year ended March .'I. 2<i24 lias been paid
provided by the (Vimpuny to its directors in accordance wiihllk provisions of station I1)? read
with Schedule V m the Act;
(in I lie modi Ileal ion relating to the maintenance of accounts nnd miter matters connected thctvw till
.ire as staled in live puragmpb 2(b) above on reporting under Section [4 if >)|h) and paragraph
2ti)(\i| below nn reporting under Rule I He)
(i) With respect to the other matters to he included in the Auditor s Report in accordance w iih
Rule I I nT the Companies I Audit and Auditors) Knits. 2014, us amended in our opinion and in
the best of our information and according to the explanations given in ns:
i. I’lic Compaitj docs [mi hflvfe am pending It ligations which would Impact its financial
position
ii. Mie t omputiy lIul not have any long-term contracts including derivative contracts lor
which ttiere were any material foreseeable losses:
iii there were no amounts which were required in be tramdeired In the Jrwsiot 1 ducal ion
and I Yokel toil E unit In the CompEitiy.
}V. a) I'he management has represented dial, to the best of its know ledge and belief oilier thini
:re disclosed in the note -12 to live linaneiiil statements, no funds have been advanced or
burned nr invested (either from borrowed funds nr share premium or any other sources or
kind ol funds) h> thp Compfiny to or in any oilier person! sior entity i ies>. including foreign
entities (“Intermediaries"), with the understanding, whether retarded in a riling or
otherwise, that Ihefnlerim.'tliary shall, Whether. direelty or indirectty lend or invest in other
persons nr CHIiIics identified 111 any nraimer whatsoever hy or nn bcholfol (he Company
1"I It incite UcnclfcinffibTl or prew ide any guarantee. sccilrily nv (he like on behalf of the
I Inmate Beneficiaries:
to flic management has represented that. In (lie best of its knowledge and belief, other
than ai. disclosed in the nme 42 to ihe financial sUilcntciHs, no funds htiyjfe been received
hy tile Company from any pcrsotRi;) or entity lies). iiK I tiding Foreign emi tics {” fund mg
Panics"i, with the understanding. whether recorded in writing or otherwise, ilea the
Company shall), whether, directly or indirectly. lend or tpyest in other persons or entities
identified in any manner whatsoever by nr on hdliilfol llie funding faity (“t Itimatc
Beneficiaries") or provide any guarantee, security or the like on behalf of ihe l liimate
Beneficiaries: and
cl I hoed oil sudi audit procedures performed that have been considered reason aide ami
appropriate in the circumstances, nothing has come to our notice that lias caused us to
believe that die representations Under sub-clause (a I and (b) contain any material
iiitsslaleinenl-
\ . No div idend has been declared or paid during I Ik year by I he i umpnny.
(j) Bust'd pi i our examination which included test cltetks the Company has used aeeoi inline
software for maintaining it> bonk* of account which tins a loin lire of recording audit trail I edit
log> facility, except iTiat as explained in note it:
\.ulI it trail for out accounting software ns not enabled during trio period April 01.21123
to April Iff, 21)23. I-rout the dEitc of enablement,the audit trail featureol the said software
operated throughout the period lor all relevant transactions recorded Ni the software.
I art tier, during the course of our audit we ilid not come across any numu’ ofaudit trail
feature being tampered with whore the audit trail font me Has been enabled
In respect of another accounting software. il bus a feature of record in a audit trail (edit
log) facility and the same bjjts operated throughout Ihc year tor till relevant transactions
recorded in the Software except that audit frail for one software w:i?, not enabled <n llio
datnbase Level to log any direct changes to the database for all s>sicm inputs, t utaher.
during the course df our audit we did not Como across any in Mu lire of audit trail feature
beingtampered with.
1 lie independent auditors sei \ ice organisation controls 1 ty pe 2 report thn> not cover I he
assessment of audit trail of an accounting software maintained by a third party.
A re nidi neb . we arc unable to eoiunieat on whether audit (rail feature of such third party
account rne software was enabled and operated throughout the year foi oil relevant
transactions recorded in the software or whether there were any instances of the audit
trail I can ire being tampered with,
1 in S,R. I in i li hi ii A Associates I I P
Chartered Accountants
It \l f'iniT keg i oral ion Number: 10IO4UW r.tftlKHM
^/^^^ngesli Miiltia
Partner yrtl
Membership Numher 094(MI li *{ KJj
i DEN: 24(j®^41BKCYKS8jf47
P luce of Si uniin ire: New Delhi Xi®*
Date‘July: I L 2024
| 