We have audited the accompanying standalone financial statements of
Atlantaa Limited (“the Company”), which comprises the Balance
Sheet as at March 31, 2025, the Statement of Profit and Loss (including
Other Comprehensive Income), the Statement of Changes in Equity
and the Statement of Cash Flows for the year ended on that date and a
summary of the significant accounting policies and other explanatory
information (hereinafter referred to as “the standalone financial
statements”).

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 Companies Act, 2013 (“the Act”)
in the manner so required and give a true and fair view in conformity
with the Indian Accounting Standards prescribed under section 133 of
the Act read with the Companies (Indian Accounting Standards) Rules,
2015, as amended, (“Ind AS”) and other accounting principles
generally accepted in India, of the state of affairs of the Company as at
March 31, 2025, the profit and total comprehensive income, changes in
equity and its cash flows for the year ended on that date.

Basis for Opinion

We conducted our audit of the standalone financial statements in
accordance with the Standards on Auditing specified under section
143(10) of the Act (SAs). Our responsibilities under those Standards
are further described in the Auditor’s Responsibilities for the Audit of
the Standalone 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 (ICAI)
together with the independence requirements that are relevant to our
audit of the standalone financial statements under the provisions of the
Act and the Rules made thereunder and we have fulfilled our other
ethical responsibilities in accordance with these requirements and the
ICAI’s Code of Ethics. We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a basis for our audit
opinion on the standalone financial statements.

Key Audit Matters

Key audit matters are those matters that, in our professional judgment,
were of most significance in our audit of the standalone financial
statements of the current period. These matters were addressed in the
context of our audit of the standalone financial statements as a whole
and in forming our opinion thereon, and we do not provide a separate
opinion on these matters. We have not determined any matters
described to be the key audit matters to be communicated in our report.
Information Other than the Financial Statements and Auditor’s
Report Thereon

The Company’s Board of Directors is responsible for the preparation of
the other information. The other information comprises the information
included in the Management Discussion and Analysis, Board’s Report
including Annexures to Board’s Report, Business Responsibility
Report, Corporate Governance and Shareholder’s Information, but
does not include the standalone financial statements and our auditor’s
report thereon.

Our opinion on the standalone 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 standalone financial statements, our
responsibility is to read the other information and, in doing so, consider
whether the other information is materially inconsistent with the
standalone 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.

Management’s Responsibility for the Standalone Financial
Statements

The Company’s Board of Directors is responsible for the matters stated
in section 134(5) of 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, total comprehensive income,
changes in equity and cash flows of the Company in accordance with the
Ind AS and other accounting principles generally accepted in India.

This responsibility also includes maintenance of adequate accounting
records in accordance with the provisions of the Act for safeguarding
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 for ensuring
the accuracy and completeness of the accounting records, relevant to
the preparation and presentation of the standalone financial statements
that give a true and fair view and are free from material misstatement,
whether due to fraud or error.

In preparing the standalone 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.

The Board of Directors are responsible for overseeing the Company’s
financial reporting process.

Auditor’s Responsibilities for the Audit of the Standalone
Financial Statements

Our objectives are to obtain reasonable assurance about whether the
standalone 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
standalone financial statements.

As part of an audit in accordance with SAs, we exercise professional
judgment and maintain professional scepticism 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 financial controls 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
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.

• 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 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.

Materiality is the magnitude of misstatements 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 misstatements 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 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
auditor’s 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 (Auditor’s Report) Order, 2020 (“the
Order”) issued by the Central Government of India in terms of sub¬
section (11) of section 143 of the Act, we give in the “Annexure-A”, a
statement on the matters specified in the paragraph 3 and 4 of the Order,
to the extent applicable.

1. As required by Section 143(3) of the Act, based on our audit 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 including Other
Comprehensive Income, Statement of Changes in Equity and the
Statement of Cash Flow dealt with by this Report are in agreement
with the relevant books of account.

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

e) On the basis of the written representations received from the
directors as on March 31, 2025 taken on record by the Board of
Directors, none of the directors is disqualified as on March 31, 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 over
financial reporting of the Company and the operating effectiveness
of such controls, refer to our separate Report in “Annexure B”. 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: 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.

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, as amended 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 standalone financial statements. Refer
Note no. 4 to the financial statement;

ii. The Company did not have any long-term contracts including
derivative contract having material foreseeable losses for which
provision was required to be made under the applicable law or
the accounting standards.

^iii. During the year the Company has transferred the required due
amount to the Investor Education and Protection Fund.

iv. a) The management has represented that, to the best of it’s

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) by the company to or in any
other persons or entities, including foreign entities
(“Intermediaries”), with the understanding, whether recorded
in writing or otherwise, that the Intermediary shall, 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, no funds have been received by the
Company from any persons or entities including foreign
entities (“Funding Parties”), with the understanding, whether
recorded in writing or otherwise, that the company shall,
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 such audit procedures that the auditor has
considered reasonable and appropriate in the circumstances,
nothing has come to their notice that has caused them to
believe that the representations under sub-clause (i) and (ii)
contain any material mis-statement.

v. The company has not declared or paid any dividend during the
year.

vi. 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 and the audit trail has been preserved by the company as per
the statutory requirement for record retention.

For SURESH C MANIAR & CO
CHARTERED ACCOUNTANTS
Firm’s Registration Number 110663

K.V SHETH
PARTNER
M. NO. 030063

Place: Mumbai
Date: May 15,2025

UDIN: 25030063BMIZVY7391