We have audited the accompanying standalone financial statements of ASYA iNFOSOFT
LIMITED (AMALGAMATED WITH AXIS SOLUTION PRIVATE LIMITED) (“the Company"),
which comprise the balance sheet as at 31st March 2024, and the statement of Profit and Loss
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 inform ation.

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 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 Company as at 31st March, 2024, its profit/loss
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 the 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 Company 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 auditors’ report thereon

The Company's Board of Directors is responsible for the other information, The other information
comprises the information included in the Director’s Report including Annexures to the Director's
Report, 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.

Responsibilities of Management and Those Charged with Governance for the Standalone
Financial Statements

The Company's Board of Directors is responsible for the mailers staled 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. This responsibility also
includes maintenance of adequate accounting records in accordance with the provisions of the
Act for safeguarding of 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 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,

Those Board of Directors are also responsible for overseeing the Company's financial reporting
process.

Auditor's Responsibilities for the Audit of the Financial Statements

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 that includes our opinion. Reasonable assurance is a high level of assurance,
but is not a guarantee that an audit conducted in accordance with BAs 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 financial statements.

Report on Other Legal and Regulatory Recuirements

1, As required by the Companies (Auditor's Report) Order, 2023 ("the Order'¹), issued by
the Central Government of India in terms of eub-cection (11) of section 143 Of the
Companies Act, 2013, wo 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 report that;

a) We have sought and obtained all the information and explanations which to the beat
of our knowledge and belief were necessary for Ihe 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 and the 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 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 31st
March, £024 taken on record by the Board of Directors, none of the directors is
disqualified as on 31st March, 2024 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 with reference to
financial statements of the Company and the operating effectiveness of such
controls, refer to our separate Report in 'Annexure ES^:.

g) With respect to the other matters to be included in the Auditor's report in accordance
with the requirements of Sec 197(16) of the Act as amended, we report that Section
197 is not applicable to a private company. Hence reporting as per Section 197(16) is
not required,

h} With respect to the ether matters to be included in ihe Auditor's Report in accordance
with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and
to the best of our information and according to the explanations given to us:

i. The Company does not have any pending litigations which would impact its
financial position.

ii. The Company did not have any long-term contracts including derivative contracts
for which there were any material foreseeable losses.

lit. There has been no delay in transferring amounts, required to be transferred, to the
Investor Education and Protection I ^;und by the Company.

iv. 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 entities ("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;

v. 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;

V. No dividend has been declared or paid during the year by the Company.

vii. The Company has used such accounting software for maintaining its books of account
which has a feature of recording audit trail (edit log) facility and the same has been operated
throughout the year for a I! transactions recorded in the software and the audit trait feature
has not been tampered with and the audit trail has been preserved by the company as per
the statutory requirements for record retention.

For CHANDABHOY & JASSOOBHOY
CHARTERED ACCOUNTANTS
Chartered Accountants
FRN; 01Q1648W

Sd/-

Place?Ahmedabad NiMAl GAUTAM SHAH

Date; 14/11/2024 (PARTNER)

UDIN:241 QQ932BJZYWA5150 MembershipNo. 100932