We Have audited the accompanying Standalone F>nancial
Statements ot Choice International Limited ( *lhe Company ),
which comprise the Balance Sheet as at March 31, 2025. and
the Statement ol Profit and Loss, including Other
Comprenenslve Income, the Statement of Changes in Equity
and the Statement of Cash Flows for the year then ended, and
notes to the Standalone Financial Statements, including
material accounting policy information and other explanatory
Information (hereinafter reletred to as the “Stnndalone
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 tho Companies Act, 2013 ("the Act') in tnc manner so
required and give a true and fair view in conformity with the
Indian Accounting Standards prescribed under section 133 of
the Act 'ead with Companies (Indian Accounting Standards)
Rules, 2015, as amended find AS") and other accounting
principles generally accepted In India of the state of affairs of
the Company as at Match 31, 2025 and its profit (including
other comprehensive income), changes in equity and its t osh
flows for the year ended on that dote

Basis for Opinion

We conducted oui audit of the Standalone Financial
Statements In accordance with the Standards on Auditing
(SAs) specified undei section 143(10) of the Ad Oui
responsibilities under tnose Standards me further described in
the 'Auditor's Responsibilities for the Audit of the Standalone
Financial Statements' section of our report We are
Independent of the Company In accordance with the Code ot
Ethics issued by the Institute of Chartered Accountants of
India (“ICAO 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 ana the Code ot Ethics.
We beiiove that ihe audit evidence obtained by us 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
Standalone Financial Statements for the year ended March 31,
2025 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

We nave determined that there are no key audit matters to
communicate in our report-

information Other than the Standalone Financial Statements
and Auditor’s Report Thereon

Tne Company's Management and Bomd of Directors is
responsible for 'he other information The other Information
comprises Ihe information included in Annual report but does
not Include the Standalone Financial Statement and our
auditor’s report thereon The Annual Report Is expected to be
made available to us after that date ol this auditor's report

Our opinion on the Standalone Financial Statements does not
cover tho other Intormatton and we will not c-xpross any form
of assurance conclusion thereon

In connection with our audit of Ihe 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 die Annual report, If we conclude that there Is
a matenal misstatement therein, we arc- required to
communicate the matter to those charge with governance
under SA 720 The Auditor's Responsibilities Relating to
Other Information'

Responsibilities of Management and Those Charged with
Governance for the Standalone Financial Statements

The Company's Board o• Directors Is 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 hue and fair view of hie financial position, financial
performance, changes In equity and cash flows of the
Company in accordance with the accounting principles
generally accepted In India, including the Indian Accounting
Standards specified under section 133 of the Act This
responsibility also Includes maintenance of adequate
accounting records tn accordance with the provisions ot the
Act for safeguarding of the assets of the Company and for
preventing and detecting frauds and other irregularities;
selection and application of appropnate accounting policies;
making Judgments ano estimates that are reasonable and
prudent; and design. Implementation and maintenance of
adequate internal financial controls, that were operating
effectively foi ensuilng the accuracy and completeness of thc
accountlng records, relevant to the preparation and
presentation of the stand 11 ci$ Ý ’ement that give a

true and fa«r view and are free from material misstatement
whether due to fraud or erroi

in preparing the Standalone Financial Statements the
Management and Board of Directors are responsible foi

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 ihe Board o« D.rectors either intends to liquidate the
Company or to cease operations, or has no realistic alternative
but to do so

The Board of Directors is also responsible tor overseeing me
Con many's financial reporting eiocess

Auditor's Responsibilities tor the Audit of the Standalone
Financial Statements

Our objectives are to obtain reasonable assurance about
whether the Standa'one Financial Statements as a whole a»e
tree from material misstatement, Whether due to fraud or error,
and to issue an auditor's report that Includes our opinion
Reasonable assurance Is a nigh level of assurance, but is not a
guarantee that an audit conducted m accordance with SAs will
always detea a materiaf misstatement when it exists.
Misstatements can arise from fraud or error and are
considered material rf, individually or in the aggregate, they
could reasonably be expected to influence the economic
decisions of users Taken on the basts of these Standalone
Financial Statements

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

♦ Identify and assess the risks of material misstatement of
the Standalone Financial Statements, whether due to 'raud
or error, design and perform audit procedures responsive
to those risks, and obtain audit evidence that is sufficient
and appropriate to provide a basis lor 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 .r internal control relevant to rhe
rjiirlit 'ii orde- to design audit procedures that are
appropriate in the circumstances. Under section 143{3)(i) of
the Act, we are also responsible for exoresslng out opinion
on whether the Company has adeauate interna! Imancia?
controls with reference to Standalone Financial Statements
In place and the operating effectiveness ot such controls

* Evaluate the appropriateness ot accounting policies used
and the reasonableness of accounting estimates and
related disclosures maoe by management and Board of
Directors.

• Conclude on me appropriateness of management and
Board of Director's use ot the going concern oasis of
accounting and, based ori the Budlt evidence obtained,
whether a material uncertainty exists related to evems or
conditions that may cast significant douot on the
Company s obilitv to continue as a going concern It we
conduce that a material uncertainty exists, we are required
to draw attention in our auditor's repod to the related
disclosures in the Standalone Financial Statements or it

such disclosures are Inadequate, to modify oul opinion Oui
conclusions are based on the audit evidence obtained up to
the date ot oui auditor's report However, future events or
conditions may cause the Company lo cease (o continue a:- a
going concern

• Evaluate the overai' presentation, structure and content of
the Standalone Financial Statements, including the
disclosures, and wnether the Standalone Financial
Statements represent the underiyng transactions and
events in a manner that achieves fair presentation

We communicate with those chargeo with governance
regarding, among other matters, the planned scope and uming
ot the audit nnd significant audit findings, Deluding any
significant deficiencies In internal control that we identify
during our audit

We also orovrde lliose charged with governance with a
statement that we nave compiled with relevant ethical
' equipments regarding independence, and to communicate
with them all relationships and other matters that may
feesoilabry be thought to bear <-<n nur independence, and
where applicable, related safeguards.

From tbe matters communicated With those charged with
governance, we determine those matters that were of most
significance in the audit of the Standalone Financial
Statements for the year ended March 31. 2025 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, m extremely rare
clir.umstances, we determine Dial r mailer should not be
communicatee in our report because the adverse
consequences of doing so would leasonably he expected lo
outweigh me public interest benefits of such communication

Report on Other Legal and Regulatory Requirements

1 As required by the Companies (Auditor's Repot*} Order,
2020 ("the Order”), Issued by the Central Government of
Indie m terms of sub-section (II) of secf.or '43 of the Act
we give in "Annexum A” a stalemenf ori the mailers
specified in paragraphs 3 and 4 of the Order, to tbe
extent Applicable.

2 As required by Section 143(3) of l»*e Act. we repod that:

a.I We nave sought and obtained all the nformatlon and
e»|:|.*irations which to the best of oui !• aowiedge and belief
were necessaiy foi the pin poses of our audit

b ) m oui opinion, proper books of account as required by
law have been kept by the Company so fai as it appears
•mm our examlnBilon of those books except for the matters
staled in the paiagraph 2(n)(vi) below on reporting under
Rule 11(g).

c.) The Balance Sheet, the Statement ot Profit and Loss
including Other Comprehensive Income, the Statement of
Cash Flow, the statement of changes in Equity dealt with
by tills Report me in agreement with the books of account.

d. ) in out opinion, the aforesaid Standalone Financial
Statements comply with tne Indian Accounting Standards
specifier? under Section 133 of the Act,

e. ) The reservation relating to the maintenance of accounts
and other matters connected therewith are as stated in
paragraph 2(b) above nn 'eportirig under Section 143(3)(b)
and paragraph ?{h)Jvl) below on reporting under Rule 11(g)

f) On the basis of the written representations received
from the directors as on March 3t 2025 taken on record
by the Board ot Directors none of the directors are
disqualified as on March 31.2025 from being appointed as
a director in terms of Section 164 (2) ot the Act

g) With respea to the adequacy of the internal financial
controls with reference to Standalone Financial Statements
of the Company and the operating effectiveness of such
controls, refer lo our separate Report in Annexure B"

h.) With respect to tne other matieis to be included in the
Auditor’s Report In accordance with Rule 11 of the
Cornitariles (Audit and Auditors) Rules, 2014 rt our opinion
and lo the best of aur information and according to the
explanations given to us:

I he Company doc-s not have any pending litigations
which would Impact rts financial position.

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

ii, There were no amounts which were required lo be
transferred to toe investor Education and Protection
Fund by tile Company

IV

f The Management has represented mat t.. the best
of Its knowledge and belief, as disclosed in the Note
50 to the Standalone Financial Statements, no funds
have been advanced ot loaned or invested (either
from borrowed funds or shaie premium or any other
sources or kind of funds) by the Company to oi in
any other person(s) or entttylles), including foreign
entities (“Intermediaries"!, with the undersianQing,
whetner recorded in writing or otherwise, thatfhe
!ntermed!ary shall, directly or mdliectfy lend or nvest
In other persons or entities identified In 8ny manner
whatsoever by or on oehalf of the Company
("Ultimate Beneficiaries") or provide any guarantee
security or the like on heiialf of the l/'ilmnte
Beneficial les

2 The Management has represented, that, to the best
rif Us knowledge and belief, no funds have been
received by the Company from any person(s) or
entities), including foreign entities (“Funding
Parties') with tbe 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 by or
on behalf of the Funding Party (' Ultimate
Beneficiaries') or provide any guarantee, security or
the 'ike on behalf of the Ultimate Beneficiaries.

3. Based on the audit procedures performed that have
been considered reasonable and appropilate In the
circumstances, and according to The Information and
explanations provided to us by the Management in
this regard nothing has come to oui notice that has
caused us to believe that the representations node?
sub-ciatise (<) and (II) of Rule 11(e) as provided under
(t) and (2) above, contain any material mis-statement.

v. The Company has neither declared no* pmo any
dividend during the year

vi Based on oui examination, which included test
checks, the Company has used a" accounting software
lor maintaining its books of account which has a feature
of recording audit trail (edit log) facility and tne same has
operated throughout tne year for e" lelevant
transactions recorded in the software Further, dunng
the course of our auaiL wo did not come across any
instance of Budrt trail feature being tampered with
Additionally, the audit trail of prior year has been
preserved by the Company as per the statuteny
requirements for record retention except, for the f>ef iod
April 01. 2023 to May 23.2023.

Based on our examination whir h Inc lulled lest checks,
tne Company has used an accounting software for
maintaining its books of accounts which pertains to
payroll transactions, which Is managed ana maintained
by a third-party software seivice provider However in
the absence of sufficient and appropriate audit evidence
we are unable to comment whether Ihe accounting
software has a feature ot recording audit trail (edit log)
tacinty and wnether the same has operated throughout
♦he year for all relevant transactions recorded in the
software or whether there s any instance of audit trail
feature being tampered with Additionally, we are
unable to comment whether the audit troll of prior years
has been ptesewed by the Company as per the
statutory requirements fo* record ratenilon

3 In oui opinion, according to Information, explanations
given to us. me remuneration paid by the Company to ns
directors is within die limits laid prescribed under Section
197 read with Scheoule V of the Act and Ute rules
thereunder

Foi MS K A 4 Associates
Chartered Accountants

1CAI Firm Registration Number. 105Q47W

Sd/-

Prateek Khandelwal
Partner

Membership Number: 139144
UDIN: 25139144BMOJTJ1903

Mumbai
April 22. 2025