We were engaged to audit the financial statements of Filtron Engineers Limited ("the entity"),
which comprise the balance sheet as at March 31, 2024, 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.

We do not express an opinion on the accompanying financial statements of the entity. Because
of the significance of the matters described in the Basis for Disclaimer of Opinion section of our
report, we have not been able to obtain sufficient appropriate audit evidence to provide a basis
for an audit opinion on these financial statements.

Basis for Disclaimer of Opinion

The Company is no longer a Going Concern as represented by the Management and accordingly effects
are giving to all items of Assets and Liabilities and therefore whereever ascertainable effects have been
given in books of account. As a result, financial statements are merely “Paper Figures” based on
available data/ information as the case may be.

The Company has maintained Fixed Assets register and has carried out physical verification of fixed
assets.

The balances in all current assets and current liabilities including statutory liabilities are subject to
confirmation, reconciliation.

We have relied upon the representation given by the management that, inventory of Rs.2,211.35
thousand will be having realizable value in the ordinary course o f business.

Since the organization is not a going concern we have relied upon representation from the management
regarding (a) non granting of any loans to any parties as mentioned in Section 189 of the companies Act,
2013 (b) making investments or guarantees as per Section 185 or Section 186 of the Companies Act, 2013

[c] Non acceptance of deposits _ from the public as per Section 73 to 76 of the Companies Act, 2013

The Company has not provided for interest, penalties on late payment or non-payment with respect to
dues with respect to Central Sales Tax (CST), Maharashtra Sales Tax, Goods and Service Tax Law, Tax

deduction at Source under the Income Tax Act, 1961 etc. The management has represented that, it has
defaulted in all applicable statutes and laws for lack of funds, lack of appropriate staff as the case may be.
The Company has also not deducted tax deducted at source on Provision for audit fees and also on Legal
and Professional Fees as per Section 194J of the Income Tax Act, 1961.The Company has also not paid
GST on Reverse Charge Mechanism under relevant GST Law as applicable.

The Company has filed income tax returns based on un-audited figures and as a result we are not able to
comment on any liability if any and to the extent relevant under the Income Tax Act, 1961 and its
consequential implications.

We have relied upon the representation given by the management in respect of related party transactions.

The Company has generally complied with the provisions under the Companies Act, 2013, Securities
Exchange Board of India.

A) We draw attention to note no-2 in the financial statement. The financial statement
indicate that the company incurred Loss after tax of Rs. 3,478.92 thousand during the
year ended 2024 and as of that date the company current liabilities Rs. 29,442.85
thousand its current asset are Rs. 3035.77 thousand as stated in note no 27(iii), these
event or condition along with others matters as set forth in other notes indicate that a
material uncertainty exists that may cast a significant doubt on the company ability to
continue as a going concern. Our opinion is not modified in respect of this matters.

B) The Companies has discontinued its operations and there is no continuity evidence which
demonstrate the company revival.

As a result of these matters, we were unable to determine whether any adjustments might have
been found necessary in respect of recorded or unrecorded inventories, fixed assets, trade
payables and the elements making up the statement of Profit and Loss.

Responsibilities of Management and Those Charged with Governance 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 of these standalone financial
statements that give a true and fair view of the financial position, financial performance,
(changes in equity) 5and cash flows of the Company in accordance with6 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 responsibility is to conduct an audit of the entity's financial statements in accordance with
Standards on Auditing and to issue an auditor's report. However, because of the matters
described in the Basis for Disclaimer of Opinion section of our report, we were not able to obtain
sufficient appropriate audit evidence to provide a basis for an audit opinion on these financial
statements.

We are independent of the entity in accordance with the ethical requirements in accordance
with the requirements of the Code of Ethics issued by ICAI and the ethical requirements as
prescribed under the laws and regulations applicable to the entity.

Report on Other Legal and Regulatory Requirements

1)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 the Annexure "A" a statement on the matters specified in paragraphs 3 and 4 of
the Order, to the extent applicable.

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 relied upon based on Letter of
Representation given by the company to the extent relevant as the Company is not a “Going Concern”

(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 and the Company does not have any
branches and hence returns were not verified.

(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 and since there are no branches, we did
not verify returns received from the branches.

(d) In our opinion, the aforesaid standalone Ind AS 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 31^st March, 2024
taken on record by the Board of Directors, all the directors were qualified as on 31^st March, 2024,
however on the date of signing of financial statements they were informed as qualified none of
the directors is in terms of Section 164(2) of the Act. (Representation required regarding
qualification as directors)

(f) With respect to the 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".

(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 has disclosed the impact of pending litigations on its financial
position in its financial statements.

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

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

iv) With respect to clause (e) of Rule 11 of the Companies (Audit and Auditors) Rules,
2014, as amended

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 person(s) or entity(ies), 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.

B) Management has represented, that, to the best of its knowledge and belief, no
funds 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, 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 attention 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. The Company has neither declared nor paid any dividend during the year

vi. Proviso to rule 3(1) of the companies (Accounts) Rules, 2014 for maintaining books of
account using accounting software which has a feature of recording audit trail (edit log) facility
is applicable to the company w.e.f April 1, 2023 and accordingly, the Company has maintained
it throughout the year.

2. As required by the Companies (Auditor's Report) Order, 2020 ("the Order") issued by the
Central Government in terms of Section 143(11) of the Act, we give in "Annexure B" a statement
on the matters specified in paragraphs 3 and 4 of the Order.

3. 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:

To the best of our information and according to the explanations given to us, the remuneration
not paid by the Company to its directors during the year.

i. According to the information and explanations given to us, undisputed amounts
payable in respect of statutory dues were in arrears as at 31st March, 2024 for a
period of more than six months from the date they became payable and breakup of
the same is as below: -

ii. Since the Company has not complied with any provisions under the Securities &
Exchange Board of India, Companies Act, 1961, Tax Deducted at source under the
Income Tax Act, 1961 and other statutes as applicable impact of the same is not
ascertainable to the extent it is relating to interest, penalties and consequential
implications thereof.

ii. The Company has made provision, as required under the applicable law or accounting
standards, for material foreseeable losses, if any, on long-term contracts. The Company did not
have any long -term contracts including derivative contracts for which there were any material
foreseeable losses.

iii. The Company is of the opinion that, no amounts which were required to be transferred to the
Investor Education and Protection Fund by the Company

For S.H. SANE & CO.

Chartered Accountants

(Firm's Registration No.0114491W)'

Sd/-

Shekhar Sane
Proprietor

Membership No. 047938
UDIN: - 24047938BKBGTD9935
Pune, May 30, 2024