We have audited the standalone financial statements of Anka India Limited ("the
Company"), which comprise the balance sheet as at 31st March, 2024, the statement of
Profit and Loss (including Other Comprehensive Income), 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 material 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 (hereinafter referred to as "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, (hereinafter referred to as
"Ind AS") and other accounting principles generally accepted in India, of the state of
affairs of the Company as at March 31, 2024, and its profit, total comprehensive
income, its cash flows and the changes in equity for the year ended on that date except
for the below mentioned qualifications:

''Company continues to recognize minimum alternative tax paid in previous
years amounting to Rs. 25.20 Lakhs as asset and expects the same to be
adjusted against future tax payments. In our view, considering the past
history of losses and overall financial position of the Company, it is not
prudent on part the company to recognize the same as assets, and the same is
not in consonance with the provisions of "Guidance Note on accounting for
credit available in respect of Minimum Alternative Tax under the Income Tax
Act, 1961 "

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.

Key Audit Matters

Key audit matters are those matters that, in our professional judgement, 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 determined the matter described below to
be the key audit matter to be communicated in our report.

Information Other than the Financial Statements and Auditor's Report Thereon

The Company's management and Board of Directors are responsible for 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 and Sustainability 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 in the 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 matters stated in section
134(5) of The Companies Act, 2013 ("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 (changes in equity) 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
statement that give a true and fair view and are free from material misstatement,
whether due to fraud or error.

In preparing the 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 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 financial statements.

As part of an audit in accordance with SAs, we exercise professional 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. 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 control relevant to the audit in order to
design audit procedures that are appropriate in the circumstances. Under section
143(3)(i) of The Companies Act, 2013, we are also responsible for expressing
our opinion on whether the company has an 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 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 the 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 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 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, 2016 ("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 "Annexure A" a statement on the matters specified in
paragraphs 3 and 4 of the Order, to the extent applicable.

(A) 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 it appears from our examination of those
books except for the issues mentioned in clause h(VI) below.

c) The Balance Sheet, the Statement of Profit and Loss (including other
comprehensive income), the Statement of Changes in Equity and the
Statement of Cash Flows dealt with by this Report are in agreement with
the books of account.

d) In our opinion, the aforesaid standalone 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, 2024 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 standalone financial statements of the Company and the
operating effectiveness of such controls, refer to our separate Report in
"Annexure B".

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 according to the information and
explanations given to us, no remuneration has been paid by the Company
to its directors during the current year and accordingly we don't have
anything to report under this clause covering section 197(16) of the
Companies Act, 2013.

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, 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 under note
23.

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

III. There were no amounts required to be transferred to the Investor
Education and Protection Fund by the Company during the year.

IV. (a) The Management has represented that, to the best of it's
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(s) or entity(ies), 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 it's
knowledge and belief, no funds (which are material either
individually or in the aggregate) have been received by the Company
from any person(s) or entity(ies), 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 the audit procedures that has 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.

V. Company had not declared any dividend for the previous year and
accordingly section 123 of the Act is not applicable and accordingly
nothing is reportable under this clause. Further the Board of
Directors have not proposed any dividend for the year.

VI. Based on our examination which included test checks, the Company
has not used an accounting software for maintaining its books of
account which has a feature of recording audit trail (edit log) for the
entire year.

As provision to Rule 3(1) of the Companies (Accounts) Rules, 2014 is
applicable from April 1, 2023, reporting under rule 11(g) of the
Companies (Audit and Auditors) Rules, 2014 on preservation of audit
trail as per the statutory requirements for record retention is not
applicable for the financial year ended March 31, 2024

For R.S.Prabhu & Associates
Chartered Accountants
FRN.127010W

Anitha Viswanathan
Partner

ICAI Mem No.113512
Date: 30^th May, 2024
Place: Vasai Road (East)

UDIN: 24113512BKABSN2912