1, We have audited the accompanying standalone financial statements of M/s Vogi Infra
Projects Limited (“the company”), which comprise the Balance Sheet as at 31 March 2024, 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.

Management** Responsibility for the Financial Statements

2. The Company’s Bo aid of Directors is responsible for the matters in section 134(5) of the
Companies Act, 2013 (“the Act**) with respect to the preparation of these financial statements
that give a true and fair view of the financial position, financial performance 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, read with Rule 7 of the
Companies (Accounts) Rules, 2014. This responsibility also includes the maintenance of
adequate accounting records in accordance with the provision of the Act for safeguarding of the
assets of the Company and for preventing and detecting the 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
internal financial control, that were operating effectively for ensuring the accuracy and
Ýcompleteness 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.

Auditor’s Responsibility

3. Our responsibility is to express an opinion on these financial statements based on our audit.
We have taken into account the provisions of the Act, the accounting and auditing standards and
matters which arc required to be included in the audit report under the provisions of the Act and
the Rules made there under.

4, We conducted our audit in accordance with the Standards on Auditing specified under section
143(10) of the Act. Those Standards require that we comply with ethical requirements and plan
and perform the audit to obtain reasonable assurance about whether the financial statements are
free from material misstatement.

5. An audit Evolves performing procedures lo obtain audit evidence about the amounts and
disclosures mthe financial statements. The procedures selected depend an the auditor’s
jucgment, including the assessment of the risks of material misstatement of the financial
statements, whether due to fraud or error. In making those risk assessments, the auditor considers
internal financial control relevant to the Company’s preparation of the financial statements that
give true and fair view m order to design audit procedures that are appropriate in the
circumstances. An audit also includes evaluating the appropriateness of accounting policies used
and the reasonableness of the accounting estimates made by Company’s Directors, as well as
evaluating the overall presentation of the financial statements.

6. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our audit opinion on the financial statements.

Opinion

7. In our opinion and to the best of our information and according to the explanations given lo us,
the aforesaid 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;

a) in the case ot the Balance Sheet, of the state of affairs of the Company as at March 31, 2024;

b) in the case of the Statement of Profit and Loss, of the Loss for the year ended on that date-
and

c) in the case of the Cash Flow Statement, of the cash flows for the year ended on that date.
Emphasis of Matters

We draw attention to the following matters in the Notes to the financial statements;

The uncertainty related to the outcome of the proceedings pending before the Income Tax
Appellate Tribunal for the financial year; 1994-1995 and financial year; 1995-1996.

Our opinion is not modified in respect of This matter.

Report on other Legal and Regulatory Requirements

S. As required by the Companies (Auditor’s Report) Order, 2016 ("the Older"), issued by the
Central Government of India in terms of sub section(] 1) of section 143 of the Act, we give In the
Annexure a statement on the matters specified in paragraphs 3 and 4 of the Order, to the extent
applicable,

9. 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 appears from our examination of those books.

c) The Balance Sheet, the Statement of Profit and Loss, and Cash Flow Statement dealt with by
this Report are in agreement with the books of account,

d) In our opinion, the aforesaid financial statements comply with the Accounting Standards
specified under Section J33 of the Act, read with Rule 7 of the Companies fAccounts) Rules,

e) In our opinion there are no observations or comments On the financial transactions, which
may have an adverse effect on die functioning of the company,

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

g) Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of section 143 of
the companies Act, 2013 (“the Act”) is enclosed as an annexure to this report,

h) With respect to the other matters included in the Auditor’s Report and to our best of our
information and according to the explanations given to us:

]. The Company has disclosed the impact of pending litigations on its financial position in its
Financial Statements

ii The Company has made provision, as required under the applicable Law or Accounting
Standards, for materia] foreseeable losses, if any, on long-term contracts including
derivative Contracts,;

lit. There has been no delay in transferring amounts, if any, required to be transferred, to the
Investor Education and Protection Fund by the Company

For SARDA SONI ASSOCIATES LLP
Chartered Accountants

CA.MANOJ JAIN

Place: Mumbai Partner

Dated: 30^ri[ MAY, 2024 M No. 12078$