We buve audited the standalone financial statements of TKISIIAKTI INDUSTRIES LIMITED (‘ the Company'’), which comprise the Balance Sheet as at 31^ST March 2021. the Statement ofProlit and lx>$s including Other Comprehensive Income. Slaienicnt ofCluinges in Equity and Statement of Cash Plows for the year then ended, and notes to the financial statements, including a summary of the 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 Net. 2013 C'thc Act”) in the manner so required and gi\c a fine and Pair \ iew in conformity vs ith the accounting principles generally accepted in India, of the Slate of Affairs ol the Company as at 31 March 2024. Profit and Other Comprehensive Income. Changes in Equity and its Cash Plows for the year ended on that date.

II. Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section I 43( I0)of the Act. Our responsibilities under those SAs arc further described in the "Auditor a Responslhilitiesfor the Audit of the Standalone Financial Statements “ section of our report. We are independent ol the Company in accordance with the Code of Lillies 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 Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and ihe Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our opinion on the financial statements.

III. Emphasis of Mailer

We draw attention to Note 40 of the standalone financial statements on the financial activity of the company having become its principle business, requiring it to lx* registered under Section 45-IA of the Reserve Bank of India Act, 1931. I he company is yet id apply for the said registration as it opines that the \'BPC leutuivs will lx* shortly dispensed will.. Our opinion is not modified in respect of this matter.

IN .Kcv Audit .Manors

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 mutters were addressed in the context of our audit of the financial statements as a whole, and in forming our opinion thereon, and we Jo not provide a separate opinion on these matters. We have determined the matters described below to he the key audit matters to he communicated in our report

V. Other Information

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 am form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information identified above when it becomes available 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 we conclude that there is a material misstatement therein, we arc required to communicate the matter to those charged w ith governance and take necessary actions, as applicable undenhe relevant laws and regulations.

VI. Management*s and Board of Directors* Ucsmmsibiliiiis for the rinancial Statements

The Company's management and Board of Directors are responsible lor the matters stated in section 134(5)of the Act with respect to the preparation of these financial statements that give a True and Fair view of the state of affairs, profit and other comprehensive income, changes in equity and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the Indian Accounting Standards (Ind AS)spccilied under section 133 of the Act. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Net for safeguarding of the assets off he Company and for preventing and detecting frauds and other irregu I a ritics: select ion 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 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 u> fraud or error.

In preparing the financial statements, management and Board of Directors are responsible for assessing the Company's ability tv> continue as a going concern, disclosing, as applicable, mutters related to going concern and using the going concern basis of accounting unless the Board of Directors cither intend* to liquidate the Company or to cease operations, or have no realistic alternative but to do so. The Board of Directors is also responsible for overseeing the Company's financial reporting pioccss.

VII. Auditor’s Kivsnonsibililics for the Audit of the Financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole arc free from material misstatement, whether due to fraud or error, and to issue an auditors* report that includes our opinion. Reasonable assurance is a high lev el of assurance, but is not a guarantee that an audit conducted in accordance with SAs will alway s detect a material misstatement when it exists. Misstatements can arise from fraud or error and arc considered material if. individually or in the aggivgate.il icy could reasonably Ik expected to influence the economic decisions of users taken on the basis of these , financ ial statements.

As part of an audit in accordance with SAs. we exercise prolessional judgment and maintain professional skepticism throughout the audit. We also:

• 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. *1 he riskofnot detecting a material misstatement resulting from fraud is higher than for one resulting Iromerror, as fraud may involve collusion, forger)', intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit proccduresihui ore appropriate in the circumstances. Under section I l.l(3)<i) of the Act, we arc also responsible for expressing our opinion on whether the company Iras adequate internal linancial controls with reference to the linancial statements in place and the operating effectiveness or such controls.

• Evaluate the appropriateness of accounting policies used ami the reasonableness of accounting estimates and related disclosures made by management and Hoard of Directors.

• Conclude on the appropriateness of management's ami Hoard of Directors' use of the going eoneembasis of accounting in preparation of financial .statements 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 abilil) to continue as a going concern. I f we conclude lhata material uncertainty exists, we are required to draw attention in our auditors* report lo the related disclosures in the financial statements or, if such disclosures arc inadequate, to modi I \ our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors’report. I lowever, future events or conditions may cause the Company to cease to continue us a going concern.

• Kyaluulc the on era 11 presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the umlerlyingtransuctions and c\ cuts in a manner that achiev es fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and liming 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 ma> 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 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, wc determine that amattcr 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.

V111. Report on Other Legal and Regulatory Ucdiiimmmts

I. As required by the Companies (Auditor s Kcport) Order. 2020 ("the Order* ) issued b> the Central Government of India in terms of section M3( 11) of the Act, wc give in the “Anncxuro A" a statement on the matters specified in paragraphs 3 and I of the Order, to the extent applicable.

2. (A) As required by Section 143(3) of the Ac!, wo report that:

(a) Wc 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 us required by law have been kept by the Company so far as it appears from our examination of those books, except for the matter suited in paragraph 2(B)(g) below on reporting under Rule 11(g) of the Companies (Audit and Auditor's) Rules, 2014.

(c) Ihe balance sheet, the statement of profit and loss including other comprehensive income, the statement of changes in equity and the statement of cash Hows dealt with by this Report are in agreement with the books of account.

(d) In our opinion, the aforesaid llnancial statements comply with the Indian Accounting Standards specified under section 133 of the Act.

(e) On the basis of the written representations received from the directors as on 31 March 2024, taken on record by the Hoard of Directors, none of the directors is disqualified us on 31 March 202 t from being appointed as u 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 and the operating effectiveness of such controls, refer to ourseparale Report in "Anncxurc B\

Our opinion is not modified in this regard.

♦ -

(B) With respect to the other matters to he included in the Auditors' Report in accordance with Rulel I of the Companies (Audit and Auditor’s) Rules. 2014. in our opinion and to the best of our information and according to the explanations given to us:

a) The Company had no pending litigations as at 31 March 2024.

b) ! he Company did not has e any long-term contracts including derivative contracts for which ihercwere any material foreseeable losses.

c) There has been no delay in transferring amounts required to be transferred to the Investor Education and Protection Fund by the Company.

d) (i) I he Mumigcmem has represented that, to the best of its knowledge and belief, no funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) b\ IheCompany to or in any other persons or entities, including foreign entities ("Intermediaries”). with the understanding, whether recorded in writing or otherwise, that the Intermediary sluill.directly or indirectly lend or Invest in other persons or entities identified in any manner whatsoever ("Ultimate Beneficiaries") by or on behalf of the Compun) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

(ii) I he Management has represented that, to the best of its know ledge and belief, no funds have been received by the Company from any persons nr entities, including foreign entities (“Funding Parties”), with the understanding, w hether recorded in writing or otherwise, that the Company shall directly or indirectly lend or investin other persons or entities identified in any manner whatsoever ft Jliimuic Beneficiaries”) by or on behalf of the funding Parties or provide any guarantee, security or the like on bchalldf the I Itimatc Beneficiaries.

(iii) Basal on the audit procedures performed 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) contain any material mis-statement.

c) Omitted.

1) The dividend declared or paid by the Company during the year is in accordance with section 123 of the Companies Act 2013.

g) The Company has migrated to •Tally Prime I:dit Log" version from "Tally Prime'* during the year and is in the process of establishing necessary controls and documentations regarding audit trail. Consequently, we are unable to comment on audit trail feature of the said so Aware.

(C) With respect to the matter to be included in the Auditors’ Report under section 197(16) ofthcAcu

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 provistonsof 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.

For G. BASU & CO.

Charterer Accountants R. NO.-301174E

Satyapriya Bandyopadhyay Partner

(M. NO.-056108)

UMN: pliStUU/CfHLJ'lfli

Place of Signature : Kolkata Dated: May 9"‘. 2024