INDEPENDENT AUDITOR’S REPORT

To the Members of DIBI TECH PRIVATE LIMITED

Report on the Financial Statements
I have audited the accompanying financial statements of DIBI TECH PRIVATE LIMITED (‘the Company’) which
comprise the balance sheet as at 31st March 2022 and the statement of profit and loss for the year then ended,
and a summary of significant accounting policies and other explanatory information, which we have signed under
reference to this report.

In my opinion and to the best of our information and according to the explanations given to me, 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 2022 and of the Profit for the year ended on that date.

Basis for Opinion

I conducted our audit in accordance with the Standards on Auditing specified under section 143(10) of the
Companies Act, 2013. My 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 Financial Statements and Auditors’ 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 Company’s annual report but does not include the financial
statements and our auditor’s report thereon.

Our opinion on the 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 Financial statements, our responsibility is to read the other information and, in
doing so, consider whether the other information is materially inconsistent with the 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 informa-
tion, we are required to report that fact. We have nothing to report in this regard.

Responsibility of Management for the 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 and presentation of these financial statements that give a true and
fair view of the financial position and financial performance 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 maintenance of adequate accounting records in accordance with the
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 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 financial statements, the Board of Directors 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 the Board of Directors 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 Responsibility 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 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.

2
Report on Other Legal and Regulatory Requirements

1. 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 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 it
appears from our examination of those books;
c) The Balance Sheet, and the statement of Profit dealt with 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, as applicable;
e) On the basis of written representations received from the directors as on 31 st March, 2022 taken on
record by the board of directors, none of the directors is disqualified as on 31 st March, 2022 from being
appointed as a director in terms of Section 164 (2) of the Act.
f) Report on the Internal financial controls over financial reporting under section 143(3)(i) of the Companies
act, 2013 is not application for the company.
g) 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 does not have any pending litigations on its financial position in its financial
statements;
ii) in our opinion and as per the information and explanations provided to us, the company has not
entered into any long-term contracts including derivative contracts, requiring provision under
applicable laws or accounting standards, for material foreseeable losses; and
iii) there are no amounts required to be transferred to the Investor Education and Protection Fund by
the company.

For MSMD & ASSOCIATES

Chartered Accountants
FRN.015423S

(V.P.MUTHUKUMARAN)
Partner
M.No:228756
UDIN: 22228756ALRXBW8739
Chennai
27/06/2022