We have audited the accompanying financial statements of Ambassador Intra
Holdings Limited ("the Company"), which comprise of the Balance Sheet as at
March 31,2025, the Statement of Profit and Loss and the Statement of Cash Flows
for the year ended on that date, and notes to the financial statements including a
summary of the significant accounting policies and other explanatory
information ("the financial statements").

In our opinion and to the best of our information and according to the
explanations given to us, the aforesaid 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 accounting principles generally
accepted in India, of the state of affairs of the Company as at March 31, 2025, the
profit 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 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 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 financial statements.

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 Company's Annual Report, but does not include the financial statements and
our Auditors' 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 during the course of our audit or otherwise appears to
be materially misstated. If, based on the work we have performed, we conclude
that there is no a material misstatement of this other information, we are required
to report that fact. We have nothing to report in this regard.

Key Audit Matters

Key audit matters are those matters that, in our professional judgement, were of
most significance in our audit of the financial statements of the current period.
These matters were addressed in the context of our audit of the 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 that there are
no key audit matters to be communicated in our report.

Managements and Board of Directors' Responsibilities for 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
financial statements that give a true and fair view of the financial position,
financial performance and cash flows of the Company in accordance with the
accounting principles generally accepted in India, including Indian 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 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 the 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 Management and Board of Directors
are 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 .The Board of Directors is also responsible for overseeing the Company's
financial reporting process.

Auditor's Responsibilities 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 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 an opinion on
whether the Company has adequate internal financial controls with reference to
financial statements 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 in the financial statements
by the Management and Board of Directors.

• Conclude on the appropriateness of the Management's and Board of Director'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.

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

2. 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.

c. The Balance Sheet, the Statement of Profit and Loss and the Statement of Cash
Flow dealt with by this Report are in agreement with the books of accounts.

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.

e. On the basis of the written representations received from the directors as on
March 31, 2025 taken on record by the Board of Directors, none of the directors
is disqualified as on March 31, 2025 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,
please refer to our separate report in "Annexure B". Our report expresses

unmodified opinion on the adequacy and operating effectiveness of the
Company's internal financial controls over financial reporting.

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 as
amended, 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 which would impact its
financial position.

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 during the year ended March
31, 2025.

iv.

(a) The Management has represented that, to the best of its knowledge and belief,
no funds have been advanced or granted loans 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 or entity, including foreign entity
("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) The Management has represented that, to the best of its knowledge and belief,
no funds have been received by the Company from any person or entity,
including foreign entity ("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 notice 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 not declared or paid dividend during the year. Hence
compliance with section 123 of the Companies Act, 2013 is not applicable.

vi. Based on our examination which included test checks, the company has used
accounting software for maintaining its books of account which does not have 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.

For and on behalf of
MAARK & Associates

Chartered Accountants
FRN: 145153W

Manish Agarwal

Partner

Membership No. 612103
Place: Mumbai
Date: 29.05.2025
UDIN: 25612103BMLEDB1608