We have audited the accompanying financial statements of Faalcon Concepts Limited (“the company”) which comprise the Balance Sheet as at March 31,2024, the Statement of Profit and Loss, the Cash Flow Statement or the year then ended, and a summary of significant accounting policies and other explanatory information (hereinafter referred to as (he “standalone financial statements”).

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid maneiai 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 ompany as at March 31, 2024, its Profit 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 he 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 ompany 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.

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

The Company’s Board of Directors and Management is responsible for the preparation of the other information The other information comprises the information obtained at the date of this auditor’s report, but does not include the financial statements and our auditor’s 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 during the course of our audit or otherwise appears to be materially misstated. If based on the work we have performed, 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.

Responsibility of Management and Those Charged with Governance for the Financial Statements

The Company’s Board ofDirectors is responsible forthe matters stated in section 134(5) of the Companies Act

²⁰!³.^{rtl,e Acr) with res}P^{ect t0 the} Preparation and presentation of these financial statements that ‘five a true and ‘air view of the financial position, financial performance and cash flows of the Company in accordance w.th the accounting principles generally accepted in India, including the Accounting Standards specified under

accordance with the provision of the Act fen- sltbm'^rdimf nf'i I "^la'"^lcnanc° °^radccl^ll;itc accounting records in detecting the frauds and other irregularities- seldil ' ^CC°^lnpanyi'^n(l Cor preventing and

making judgments and estimates that are reasonable nunm, T i".°" ?^{Pproprialc accou}"^li"B Policies; of adequate internal financial control that w ^{and pru}^^{cnl; and c,cs}'«ⁿ- implementation and maintenance

completeness of the accounting recoil ^f°^{r cnsurin}« ^thc ‘"V and

that give a true and lair view and are free from min - V '^{1011 a}"^{d prescnlation} °^r,llc financial statements •

^L "^{ee 1,0111 matenal} misstatement, whether due to fraud or error.

continue as^a go^con^ '^{S responsible for} assessing the Company’s ability to

concern basis of accounting unless nvmV, ^PP ‘^{Cab 6}’ ^{matters relatcd} to going concern and using the going

or has no realistic alternative but to do so⁸⁶'¹¹²" ^ ^ ^mtendS ‘° ^{liquidale ,he Com}P^any ^{or [}o cease operations,

Those Board of Directors are also responsible for overseeing the company’s financial reporting process.

Auditor’s Responsibility

from Jaterial^stetemrat! whefi^dirtof"^ ^ab°^{Ut Wheth},^{er the financial} statements as a whole are free opinion. Reasonable assurance is a high levelTf asT ^em>r’ -° ^{ISSUG aLlditor}’^{s re}P^{ort that} includes our accordance with SAs will alwavs detect * • _t ^surance’ ^{but 1S not a} guarantee that an audit conducted in

fraud or error and£^ ^ ^M-‘atemen,s can arise from

to influence the economic decisions of use, take" trtte°^s^fSSS^^^0T,ably * fcepSsm ^ ^ ^Pr°^feSSi°^{nal a}"^d ™"*in Professional •

Ir emof f ^ ^misstatement financial statements, whether due to fraud

misstatement resulting from fraud is higher than for one resulting from ent,

. Oh °^S10n’ If^Cry’^{latentl0nal orn}issions, misrepresentations, or the override of internal control

btain an understanding of internal control relevant to the audit in order to design audit procedures a so ms ^aPPr°^{Pnate m the} orreumstances. 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. ^g

‘ hiZT^der ^th".^apP^roP^riatenu^ess.^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 dafe of our

llTnZoTl^H0W6Ver’ ^{fUtUre 6VentS} °^{r C}°^{nditi0nS may the C}°^mpa^ » — ^onZZ as

• Evaluate the overall presentation, structure and content of the financial statements, including the

~ 2 ^represen' ^events i" *

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H^/ l \o\\

_t• •', ]Tr!^CMl "*^1 ^{lhOSC c}^^ar&^e<^^vv*^¹ governance regarding, among other matters, the planned scope and

• ^ ._r ^1C. ^{aU 11 a,K S1}^ⁿⁱ^^{icant ai,}d*t findings, including any significant deficiencies in internal control that we identify during our audit.

e also pi oxide those charged with governance with a statement that we have complied with relevant ethical requirements regaiding independence, and to communicate with them all relationships and other matters that max reasons > e thought to bear on our independence, and where applicable, related safeguards.

I rom the matters communicated xvith those charged with governance, we determine those matters that were of most significance in the audit of the financial statements of the current period and are therefore the key audit matters W e desciibe these matters in our auditor’s report unless law or regulation precludes public disclosure about the matter or xvhen, 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 Section 143 (3) of the Act, we report, to the extent applicable 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 purpose 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 & Loss & Cash Flow Statement dealt with by this report are in agreement with the books of accounts;

d) In our opinion, the aforesaid consolidated financial statements comply with the Accounting Standards specified under Section 133 of the Act.

e) On the basis of written representations received from the directors as on March 31, 2024 and taken on record by the Board of Directors, we report that none of the director is disqualified as on March 31, 2024 from being appointed as a director in terms of Section 164 (2) the Act;

f) 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 A”. Our report expresses an unmodified opinion on the adequacy and operating effectiveness of the Company’s internal financial controls over financial reporting.

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:

h) 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.

i) 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, as amended in our opinion and to the best of our information and according to the explanations given to us:

a. The Company has disclosed the impact of pending litigations if any, on its financial position.

b. 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 contracts;

fo Zl'^R"”^{n> 0r<i}“'^{2014 0rdl,}"> “”'^d * *' C«n«l Govern mem

paragraphs 3 and 4 of the Order. ⁶ ^ ^W6 ^ “ ^{Annexure B}” ^{a sta,emem on ,he matters} specified in

For SHARMA SHARMA & CO. Chartered Accountants FRN: 0009462N

Placet-New Delhi CA. SuWrMUrMA

Date: l\06-2^2-V (Partnei^\ \

6K A-0 )S^"^ Membership nJ 088272