We have audited the accompanying IND AS Financial Statements ofECS BIZTECH LIMITED ("the.
Company"), which comprise the Balance Sheet as at March 31, 2024, the Statement of Profit and
Loss (including Other Comprehensive Income), and the Statement of Changes in Equity and
statement of cash flows for the year then ended, 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 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 ("IND AS") prescribed under Section 133 of the act read with the Companies (Indian
Accounting Standards) Rules, 2015, as amended, and other accounting principles generally accepted
in India, of the state of affairs of the Company as at 31^st March 2024, and its 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 financial statements in accordance with the Standards on Auditing
(SAs) specified under section 143(10) of the Act. 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 (ICAI) 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 the ILAI's code of tthics. 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.

Emphasis of Matter

We draw attention to note No.26 (5) of the Financial Statements with that the company has not
offered any formal plan or agreement with individual employee, group of employees or their
representatives for retirement benefits hence its recognition measurement and disclosures are not
made.

Key Audit Matters

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 matters were addressed in the
context of our audit of the financial statements as a whole, and in forming our opinion thereon, and
we do not provide a separate opinion on these matters. We have determined that there are no key

audit matters to be communicated in our report. /£/

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Management's Responsibility for the Financial Statements

The Company's Board of Directors is responsible for the matters stated in Section 134(5) of the

_t°;^Pani!^{S2013 (}"^{the ACt}"^{} With reS}^^{Ct t0} P-Paration and presentation of^t^ese financial
tements that give a true and fair view of the financial position, financial performance including other
Comprehensive Income, cash flows and Changes in Equity of the Company in acZancewiththe
accounting principles generally accepted in India, including the Indian Accounting Standards (IND AS)
~ “^tion 133 °^{f the Act}'^with

ZtiZron'te^ma;^n,T^ce °^{f adequate} accoun,in6 rec°^{rds in accordan}“ »^ith ««

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 accoundng policies^ S

of ^{that are reaS}°^{nable and} P™fent; ^d«ign, implementation and maintenance

quate 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 fina ncial

ZZtor ^S‘^Ve ’ ^{and fair ViSW and 3re frdm matdrial} Ý"£«—t, whetrZ ,o

In preparing the financial statements, management is responsible for assessing the Company's ability
o continue as a going concern, disclosing, as applicable, matters related to going^con'ern and u -
e ^go|n^g 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. ^{P V}

The Board of Directors is responsible for overseeing the Company's financial reporting process.

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
ha includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee
that an audit conducted m accordance with SAs will always detect a material misstatement when it
xists. Misstatements can arise from fraud or error and are considered material if, individually or in

nn _t ^{e§ e}; ^{ey C}f° ^rea,^SOnably be exP^ected 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 jtid₆ment 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. The risk of
not etecting 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 m 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 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 financial statements, including

e disclosures, and whether the financial statements represent the underlying transactions
and events in a manner that achieves fair presentation.

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 aihfejstionships _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 year
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:

1. 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 Companies Act,

2013, we give in the "Annexure A", a statement on the matters specified in paragraphs 3 and

4 of the Order, to the extent applicable.

2. As required by section 143(3) of the Act, we further report that:

(i) 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.

(ii) 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.

(iii) The Balance Sheet, the Statement of Profit and Loss including other comprehensive
income, the statements of Cash Flows and the statement of changes in equity dealt
with by this Report are in agreement with the books of account.

(iv) In our opinion, the aforesaid financial statements comply with the Indian Accounting
Standards specified under Section 133 of the Act, read with Companies (Indian
Accounting Standards) Rules, 2015, as amended.

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

(vi) With respect to 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".

(vii) In our opinion , and to the best of our information and according to explanations given
to us company has not been paid / provided remuneration to its dH^Gmr^during the

(viii) ^With aspect to other matter to be included in the Auditors 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 explanations given to us:

'Ý ^The company does not have any pending litigation which would impact
its financial position.

ii. The Company did not have any long-term contracts including derivative
contracts; as such the question of commenting on any material
foreseeable losses thereon does not arise.

iii. There has been no delay in transferring amounts, required to be
transferred, to the Investor Education and Protection Fund by the
company.

iv. (a) The Management has represented that, to the best of its knowledge
and belief, no funds (which are material either individually or in the
aggregate) 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 or entity, including foreign
entity ("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 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 (which are material either individually or in the
aggregate ) have been received by the company from any person or
entity, including foreign entity ("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 the audit procedures 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

(c) Based on the audit procedures 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), as provided under (a) and (b) above, contain any
material misstatement.

(d) The company has not declared or paid dividend during the year.
Hence compliance with section 123 of the Companies Act, 2013 is not
applicable.

(ix) The Company is in process to replace old version accounting software for
maintaining its books of account which does not have a feature of recording audit
trail (edit log) facility. Hence audit trail has not been operated throughout the year
for all relevant transactions recorded in the software.

0IOTTAM KHANDELWAL & CO.

Chartered Accountants
(FRN NO. 123825W)

C-.--J>

\ Prahlad Jhanwar

Placer-Ahmedabad (Partner)

Date: - 28/05/2024 (Membership No. 120920)

UDIN:-24120920BKCRTZ7347