We have audited the standalone financial statements of Plada Infotech Services Limited ("the
Company”), which comprise the balance sheet as at 31st March 2025, and the statement of
Profit and loss for the period ended 31 st March 2025, Cash flow statement 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 31st March
2025, 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 there under, 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

Responsibilities of Management for the Standalone Financial Statements

The Company’s 13oard 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 tor safeguarding of 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 tor 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

Those Board of Directors are also 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:

• Identify and assess the risk 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 financial control relevant to the audit in order to design
audit procedures that are appropriate in the circumstances Under Section I43(3)(i) of the
Act. we are also responsible for expressing our opinion on whether has adequate internal
financial controls systems 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 exits
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 exits, 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

Materiality is the magnitude of misstatement 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 misstatement 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 and significant
deficiencies in internal control that we identify during our audit

We also provide those charged with governance with a statement that we may 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 (II) 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) We have sought and obtained all the information and explanations which to the best of
our knowledge 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, the Statement of Profit and Loss 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 Accounting
Standards specified under Section 133 of the Act, read with Rule 7 of the Companies
(Accounts) Rules. 2014. as amended from time to time

(e) 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 31 st March 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 with reference to financial
statements of the Company as on 31 March 2025 and the operating effectiveness of such
controls, refer to our separate Report in “Annexure IV wherein we have expressed an
unmodified opinion; and

(g) In our opinion, the managerial remuneration for the year ended March 31. 2025 has been
paid / provided by the Company to its directors in accordance with the provisions of
section 197 read with Schedule V to the Act; and

(h) 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 does not have any pending litigation which would impact it’s financial
position.

ii. The Company did not have any long-term contracts including derivative contracts for
which there were any material foreseeable losses

iii. There were no amounts which were required to be transferred to the Investor
Education and Protection Fund by the Company

iv. The management has represented that, to the best of its knowledge and belief, other
than as disclosed in the notes to the accounts,

a) 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(s) or entity(ies), including foreign entities ’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 b\ or on behalf of the company ’Ultimate Beneficiaries’ or
provide any guarantee. security or the like on behalf of the Ultimate Beneficiaries;
and

b) No funds have been received by the company from any person(s) or entitv(ies),
including foreign entities ’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 audit procedures carried out by us. that we have considered reasonable

and appropriate in the circumstances, nothing has come to our notice that has caused

us believe that the representations under sub-clause (a) and (b) contain any material
misstatement.

(i) The Company has not declared or paid any dividends during the year and accordingly-
reporting on the compliance with section 123 of the Companies Act, 2013 is not
applicable for the year under consideration

(j) Based on our examination, which included test checks, the Company has used accounting
software's 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’s.
Further, during the course of our audit we did not come across any instance of the audit
trail feature being tampered with.

For GMCS & Co.

Chartered Accountants
Registration Number: 141236W

CA Rahul Gupta
Partner

Membership No.151630
Mumbai, 29^,h May, 2025
UDIN: 25151630BMLMXK1277