We have audited the accompanying Ind AS financial statements of SILICON VALLEY INFOTECH
LIMITED ("the Company") which comprises the Balance Sheet as at March 31,2024, 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
significant accounting policies and other explanatory information of the company.

In our opinion and to the best of our information and according to the explanations given to us, the
aforesaid Ind AS financial statements give the information required by the Companies Act, 2013 ("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 (India Accounting Standards)
Rules, 2015, as amended, ("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 loss (Including Other Comprehensive
Loss), Statement of Changes in Equity and its cash flows for the year ended on that date.

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 there under, and we have
fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI's Code of
Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our opinion on Ind AS Financial Statement.

Key Audit Matters:

Key audit matters are those matters that, in our professional judgment, were of most significance in our
audit of the Ind AS financial statements of the current period. These matters were addressed and
communicated with management in the context of our audit of the Ind AS 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 matters described below to be the key audit matters to be communicated in the
report.

The Company's Board of Directors is responsible for the preparation of the other information. The other
information comprises the information included in the Management Discussion and Analysis, Directors
Report including Annexures to Directors' Report, Report on Corporate Governance but does not include
the Ind AS Financial Statements and our auditors' report thereon. The Management Discussion and
Analysis, Directors' Report including Annexures to Directors' Report.

Report on Corporate Governance are expected to be made available to us after the date of this auditor's
report. Our opinion on the Ind AS 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 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 financial statements or out 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 appropriate action as
applicable under the relevant laws and regulations. We have nothing to report in this regards.

Responsibility 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 Ind AS financial statements that give a true
and fair view of the state of affairs, loss, and other comprehensive loss, changes in equity and cash flows
of the Company in accordance with the Ind AS and accounting principles generally accepted in India,
including the accounting Standards specified under section 133 of the Act, 2013 read with relevant rules
issued thereunder and other Accounting principles generally accepted in India. 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 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 Ind AS 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 Responsibility for the Audit of the Ind AS Financial Statements

Our objectives are to obtain reasonable assurance about whether the Ind AS 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

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 Ind AS 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 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.

• 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 ability of the Company 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 interim consolidated 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 Ind AS financial statements, including
the disclosures, and whether the Ind AS 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 Ind AS 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

(i) As required by the Companies (Auditors Report) order, 2016 ( the Order) issued by the Central

Government of India in terms of section 143 (11) of the Act we give in the Annexure A, a Statement
on the matters specified in paragraph 3 and 4 of the order.

(ii) 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 except for the matters as stated in paragraph h(vi)
below on reporting under rule 11(g);

(c) The Balance Sheet, the Statement of Profit and Loss (Including Other Comprehensive Income), the
Cash Flow Statement and Statement of Changes in Equity dealt with by this Report are in agreement
with the books of account.

(d) In our opinion, the aforesaid 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 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 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 matter 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 to the best of our information and according to the explanations given to us, the
remuneration paid by the company to its directors during the year is in accordance with the provisions
of section 197 of the Act.

(h) With respect to the other matters to be includes 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 pending litigations of the company which would impact its financial position are disclosed
in Note No. 15(a) - Contingent Liabilities not provided for;

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

iii. There were no amount which were required to be transferred, to the Investors Education and
Protection Fund by the Company at the Year.

iv. (a) The company 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 source 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 person 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 company 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 person 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) Nothing has come to our notice that has caused us to believe that the representation
under (a) & (b) above contain any material mis-statement.

v. The company has not declared or paid any dividend during the year.

vi. The reporting under Rule 11 (g) of the Companies (Audit and Auditors) Rules, 2014 is applicable

from 1 April 2023. Based on our examination which included test checks, except for the
instances mentioned below, the Company has used accounting software for maintaining
its books of account, which have a feature of recording audit trail (edit log) facility and the
same has started operations only from 05th July 2023 and thereafter operated throughout
the year for all relevant transactions recorded in the respective software.

The feature of recording audit trail (edit log) facility was not enabled at the application layer
of the accounting software for the period from 01st April 2023 to 4th July 2023. Further the
audit trail (edit log) enabled at the application layer without any user specific security in
the accounting software.

Further, for the periods where audit trail (edit log) facility was enabled and operated from
5th July 2023 and thereafter throughout the year and not disabled anytime during the year
for the respective accounting software, we did not come across any instance of the audit
trail feature being tampered with.

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. As proviso to rule 3(1) of the
Companies (Accounts) Rules, 2014 is applicable for the company only w.e.f. April 1,
2023; hence reporting under this clause is not applicable.

For DEOKI BIJAY & Co.

CHARTERED ACCOUNTANTS

Firm Regn. No : 313105E

CA RAMESH KUMAR CHOKHANI

Dated: 28th day of May, 2022 Partner

Place : Kolkata Memb No. 062081

UDIN : 24062081BKAQCU9711