We have audited the standalone financial statements of Cistro Telelink Ltd (“the Company”), which
comprise the balance sheet as at 31st March 2024, and the statement of Profit and Loss, (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 standalone 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 March 31, 2024, and loss, (changes in equity) 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.

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.

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
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)¹ and cash flows of the Company in accordance with¹ 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 implementation and maintenance of 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.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures
in the financial statements. The procedures selected depend on the auditor's judgment, including the
assessment of the risks of material misstatement of 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 a true and fair view, in order to design audit
procedures that are appropriate in circumstances. An audit also includes evaluating the appropriateness
of accounting policies used and the reasonableness of the accounting estimates made by the Company's
Directors, as well as evaluating the overall presentation of the financial statements. We believe that the
audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion
on financial Statements.

Report on Other Legal and regulatory Requirements

1. As required by required by the Companies (Auditor's Report) Order,2020 (“the Order”) issued

by 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 paragraph 3 & 4 of the Order.

2. As required by section 143(3) of the Act, we further 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 purpose 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, Statement of Profit and Loss Account, Cash Flow Statement and
Statement of changes in Equity dealt with this report are in agreement with the books of
Accounts;

(d) In our opinion, the aforesaid financial statements comply with the applicable Accounting
Standards specified under Section 133 of the Act, read with relevant rules thereunder as
amended;

(e) On the basis of written representation 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 the directors in terms of Section 164(2) of the Act;

(f) With respect to the adequacy of the internal financial control over financial reporting of the
Company and the operating effectiveness of such controls, refer to our separate report in
“Annexure B”;

(g) According to information and explanations given to us and based on our examination of the
records of the Company, the Company had not paid/provided managerial remuneration
hence requisite approvals mandated by the provisions of Sec 197 of the Act is not applicable;

(h) Based on our examination which included test checks, the company has used an accounting
software for maintaining its books of account 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. Further, during the course of our audit we did not come across any
instance of audit trail feature being tampered with.

(i) In our opinion and to the best of our information and according to the explanations given to
us, we report as under with respect to other matters to be included in the Auditor's Report
in accordance with Rule 11 of the Companies (Audit & Auditors) Rules, 2014:

1. The Company does not have any pending litigation which would impact its financial
position.

2. 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.

3. There has not been an occasion in case of the Company during the year under report
to transfer any sums to the Investor Education & Protection Fund. The question of
delay in transferring such sums does not arise.

4. (a) The management has represented that, to the best of its 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 or any of such subsidiaries
(“Ultimate Beneficiaries”) or provide any guarantee, security or the like to or 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 (“Ultimate Beneficiaries”) by or on
behalf of the Funding Party or provide any guarantee, security or the like from or on
behalf of the Ultimate Beneficiaries.

(c) Based on such audit procedures as 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 (iv)(a) and (iv)(b) contain any material mis¬
statement.

5. The company has not paid/declared any dividend during the years and hence
compliance of section 123 of the Act is not applicable on such audit procedures as
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 (iv)(a)
and (iv)(b) contain any material mis-statement.

For B. Chordia & Co.

Chartered Accountant

FRN: 121083W

Vikas Chordia

Partner

Membership No. 158536

Place: Surat

Date: 08/05/2024

UDIN: 2415853BKECFH5149