We have audited the accompanying
Standalone financial statements of
KETO MOTORS LIMITED (Formerly Known as
TAAZA International Limited)('the
Company'), which comprise the balance sheet
as at 31^st March 2026 and the statement of
profit and loss for the Period ended (including
other comprehensive income), statement of
changes in equity and statement of cash flows
for the year ended, and notes to the Standalone
financial statements, including material
accounting policies and other explanatory
information. (hereinafter referred 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 (“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 31 March 2026, and its profit and other

comprehensive 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 Act. Our responsibilities
under those SAs are further described in the
Auditor's Responsibilities for the Audit of the
Standalone financial statements section of our
report . We ar e independent o f the Com pany 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 Standalone financial
statements under the provisions of the Act 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 on the
Standalone financial statements.

Key Audit Matters

Key audit matters are those matters that, in our
professional judgment, 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.

Emphasis of Matter Paragraph:

• We draw your attention to Note No: 12 in
the Standalone financial statements
regarding Resolution Plan approved by the
Hon'ble National Company Law Tribunal
(NCLT) Pursuant to the Order of the Hon'ble
National Company Law Tribunal (“NCLT”)
approving the Resolution Plan dated 12
June 2025 vide IA (Plan) No. 6 of 2025 in
CP (IB) No. 1/7/HDB/2024 (“NCLT
Order”), the Company has given effect to
the approved merger and the terms of the
Resolution Plan. Accordingly, during the
year, the Company has restructured its
share capital by way of reduction of the
existing equity shares and allotment of new
equity shares to the Successful Resolution
Applicant(s), Strategic Investors and by
way of allotment pursuant to the
acquisition/merger of KETO Motors
Limited, in accordance with the terms of the
approved Resolution Plan and the NCLT
Order under the Insolvency and
Bankruptcy Code, 2016, the Company has,
during the year, increased / adjusted its
authorised and paid-up equity share
capital by way of reduction existing equity
shares, allotment of new equity shares to
the Successful Resolution Applicant(s),
Stratagic Investors and allotment in leiu

acquisiton of KETO Motors Limited in
accordance with the terms of the approved
Resolution Plan.

Other Information

The Company's Management and Board of
Directors are responsible for the other
information. The other information comprises the
information included in the annual report but
does not include the Standalone financial
statements and auditor's report thereon. The
annual report is expected to be made available
to us after the date of this auditor's report.

Our opinion on the Standalone financial
statements does not cover the other information
and we will 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 identified above when it
becomes available 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.

When we read the annual report, if we conclude
that there is a material misstatement therein, we
are required to communicate the matter to those

charged with governance and take necessary
actions, as applicable under the relevant laws
and regulations.

Management's and Board of Directors'
Responsibilities for the Standalone financial
statements

The Company's Management and Board of
Directors are responsible for the matters stated
in Section 134(5) of the Act with respect to the
preparation of these Standalone financial
statements that give a true and fair view of the
state of affairs, profit/ loss and other
comprehensive income, changes inequity and
cash flows of the Company in accordance with
the accounting principles generally accepted in
India, including the Indian Accounting Standards
(Ind AS) specified under Section133 of the Act.
The respective Management and Board of
Directors of the Company are responsible for
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 Standalone 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, the respective Management and
Board of Directors are responsible for assessing
the ability of each company to continue as a
going concern, disclosing, as applicable,
matters related to going concern and using the
going concern basis of accounting unless the
respective Board of Directors either intends to
liquidate the company or to cease operations,
or has no realistic alternative but to do so.

Auditor's Responsibilities for the Audit of the
Standalone financial statements

Our objectives are to obtain reasonable
assurance about whether the Standalone
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 Standalone financial statements.

As part of an audit in accordance with SAs, we
exercise professional judgment and maintain
professional skepticism throughout the audit.
We also:

0 Identify and assess the risks of material
misstatement of the Standalone 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.

0 Obtain an understanding of internal
financial controls relevant to the audit in
order to design audit procedures that are
appropriate in the circumstances. Under
section 143(3)(I) of the Act, 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.

0 Evaluate the appropriateness of accounting
policies used and the reasonableness of
accounting estimates and related
disclosures made by management.

0 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
Standalone 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.

0 Evaluate the overall presentation, structure
and content of the Standalone financial
statements, including the disclosures, and
whether the Standalone 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 Standalone 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.

Other Matter

The corresponding figures, including the
financial position and financial performance, as
at and for the year ended 31 March 2025
included in these Standalone financial
statements relate solely to Taaza International
Limited and do not include the financial position
and financial performance of KETO Motors
Private Limited, pursuant to the restructuring/
merger implemented during the current financial
year. Accordingly, the corresponding figures for
the previous year are not comparable with the
figures for the current year.

Our opinion is not modified in respect of this
matter.

Report on Other Legal and Regulatory
Requirements

1. As required by the Companies (Auditor's
Report) Order, 2020 (“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 statement on the matters
specified in the Order, to the extent
applicable.

2. 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 matters
stated in the paragraph 2(B)(f) below
on reporting under Rule 11(g) of the
Companies (Audit and Auditors)
Rules, 2014.

c) The balance sheet and the statement
of profit and loss (including other
comprehensive income), the changes
in equity and the cash flow statement
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 Ind AS 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 March 2026 taken
on record by the Board of Directors,
none of the directors is disqualified as
on 01 April 2026 and 28 May 2026
taken on record by the respective
Board of Directors is disqualified as
on 31 March 2026 from being
appointed as a director in terms of
Section 164 (2) of the Act.

f) the modification relating to the
maintenance of accounts and other
matters connected therewith are as
stated in the paragraph 2(A)(b)
above on reporting under Section
143(3) (b) of the Act and paragraph
2B(f) below on reporting under Rule
11(g) of the Companies (Audit and
Auditors) Rules, 2014.

a) With respect to the adequacy of the
internal financial controls with
reference to Standalone financial
statements of the Company
incorporated in India and the
operating effectiveness of such
controls, refer to our separate Report
in “Annexure B”.

B. With respect to the matter to be
included in the Auditor's Report under
Section 197(16) of the Act:

In our opinion, and according to the
information and explanations given to
us, the remuneration paid by the
Company to its directors during the
current year is in accordance with the
provisions of Section 197of the Act. The
remuneration paid to any director by
the Company is not in excess of the limit
laid down under Section 197 of the Act.
The Ministry of Corporate Affairs has
not prescribed other details under
Section 197(16) of the Act which are
required to be commented upon by us.

C. 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 as at
31 March 2026 on its financial
position in its Standalone financial
statements - Refer Note 28 to the
Standalone 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 were no amounts which were
required to be transferred to the

Investor Education and Protection
Fund by the Company.

a. Management has represented that,
to the best of its knowledge and
belief, other than as disclosed in the
notes to the accounts, 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(is), 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, other than as disclosed in the
notes to the accounts, 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,
and

c. Based on the audit procedures that
have been considered reasonable
a n d a p p r o p r i a t e i n t h e
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 (i) and (ii)
above, contain any material
misstatement.

v. The company has neither declared
nor paid any dividend during the
year as per Section 123 of the Act.

vi. Based on our examination, which
included test checks, the Company
has used accounting software's for
maintaining its books of account for
the financial year ended March 31,
2026, 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's. Further, during the course
of our audit we did not come across
any instance of the audit trail feature
being tampered with.

For BOPPUDI & ASSOCIATES.,

Chartered Accountants

Firm Regn No. 0502S

B Appa Rao

Partner

Membership No. 028341
UDIN: 26028341LDBFTY2378

Date: 28.05.2026
Place: Hyderabad