We have audited the accompanying standalone Ind AS financial statements of B J DUPLEX
LIMIlhD (“the Company”), which comprise the Balance Sheet as at March 31, 2024. and the
Statement ol Profit and Loss (including other comprehensive income), the Statement of Cash Flows
and the Statement Of Changes in Equity for the year then ended, and a summary of significant'
accounting policies and other explanatory information (hereinafter referred to as Ind AS Financial
Statements).

In our opinion and to the best of our information and according to the explanation given to us the
a oresu'd standalone Ind AS financial statements give the information required by the Companies Act,
‘ “ ^{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 2024 the
loss and total comprehensive loss, changes in equity and its cash flows for the year ended on that date.

Basis for Opinion

Wc conducted our audit in accordance with the Standards on Auditing (SAs) specified under section
14.s( 10) ot the Companies Act, 2013. Our responsibilities under those Standards are further described
m the Auditor’s Responsibilities for the Audit of the Ind ASFinancial Statements section of our
report. We are independent ot the Company in accordance with the Code of Ethics issued by the
Institute ol Chartered Accountants of India together with the ethical requirements that are relevant to
our audit ot the Ind AS financial statements under the provisions of the Companies Act, 2013 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.

Emphasis of Matter

We draw attention to Note 16(2) of the attached financial Statements which indicates that the Company
inclined a nel loss ol Rs. 7447.12 (Rs. In thousand) during the year ended 31st March 2024 and as of
that date matters in Note 16(2), indicate that company’s current liabilities exceed current assets, thar
indicated that a material uncertainty exist that may cast significant doubt on the Company’s ability to
continue as a going concern. Our opinion is not modified in respect of this matter.

Z l“l those matters that^f^ ^{t =}

audit of the standalone finaned and in forming our opinion thereon

context of our audit of the stan none matters We have determined the matters described

and we do not provide a separate opinion on these matters, we

kj™* hr the kev audit matters to be communicated in our report. ----.

I lie Company s Board of Directors is responsible for the other information. The other information
comprises the information included in the Annual report but does not include the Ind AS financial
statements and our auditor's report thereon, fhe Annual Report is expected to lie 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 do not express any form of assurance conclusion thereon.

In connection with our audit of the Ind AS 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 in the audit or otherwise appears to be materially
misstated.

If. based on the work we have performed, we conclude that there is a material misstatement of this
other information, we are required to report that fact. We have nothing to report in this regard.

Responsibilities uf Management and Those Charged with Governance for the Standalone Ind
AS 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 standalonelnd AS financial
statements that give a true and fair view of the financial position, financial performance including
otlici comprehensive income, cash flows and changes in equity of the company of the Company in
accordance with accounting principles generally accepted in India, including the Indian Accounting
Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts)
Rules. 2014 and the Companies (Indian Accounting Standards) Rules, 2015.This responsibility also
includes maintenance of adequate accounting records in accordance w ith the provisions of the Act for
safeguarding ot the assets ot the Company and for preventing and detecting frauds and other
iiicgularitics: selection and application ot appropriate accounting policies; making judgments and
estimates that arc 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 thelnd AS financial
statements that give a true and fair view and are free from material misstatement, whether due to fraud
or error.

In preparing thelnd AS financial statements, the board of directors is responsible for the 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
ot Directors are also responsible for overseeing the company’s financial reporting process.

Auditor’s Responsibility for the Audit of Ind AS Financial Statements

Our objectives are to obtain reasonable assurance about whether thelnd 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 theselnd AS financial statements.

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

• Identify and assess the risks of material misstatement of the standalone 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, forger)', intentional
omissions, misrepresentations, or the override of internal control.

• 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.

• Evaluate ihe 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 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
Ind AS 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 standalone Ind AS financial
statements, including Ihe disclosures, and whether the standalone Ind AS financial statements
represent the underlying transactions and events in a manner that achieves fair presentation.

Materiality is the magnitude of misstatements in (he standalone Ind AS financial statements that,
individually or in aggregate, makes it probable that the economic decisions of a reasonably
knowledgeable user of the Ind AS financial statements may be influenced. We consider quantitative
materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the
results of our work; and (ii) to evaluate the effect of any identified misstatements in the Ind AS
financial statements.

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, vve determine those matters that

were of most significance in the audit of the standalone 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 anil Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order, 2021) ('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, \vc 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) fhe Balance Sheet, and the Statement of Profit and l oss including the Statement of Other
Comprehensive Income, the Cash Flow Statement and the Statement of Changes in Equity
dealt with by this Report are in agreement with the books of account.

(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 ol the
Companies (Accounts) Rules, 2014 and the Companies (Indian Accounting Standards)
Rules. 2015. as amended.

(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
31 st 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 control over financial reporting of the
Company and the operating effectiveness of such controls, refer to our separate report in
“Annexure B" to this report.

(g) With respect to the matters to be included in the Auditor's Report in accordance with the
requirements of section 197 (16) of the Act. as amended, the reporting requirements are not
applicable since the Company has not paid any managerial remuneration during the year.

(h) 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 itslnd AS financial statements.

(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
including derivative contracts

(iii) I here were no amount which were required to be transferred, to the Investor
Education and Protection Fund by the Company.

(iv) (a) The Management has represented that, to the best of taow'edgc and behef no
funds (which are material either individually or m the aggregate) have been
advanced or loaned or invested (either from borrowed funds or share premmm o
_any other sources or kind of funds) by the Company to or m any other person or
emity including foreign entity (“Intermediaries”), with the understanding, whether
recorded in writing or otherwise, that the Intermediary shall, whether, d.rectly 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 prov.de
any guarantee, security or the like on behalf of the Ultimate Benefic.ar.es,

(b) The Management has represented, that, to the best of its knowledge and belief
no funds (which arc material either individually or in the aggregate) have bee
received bv the Company from any person or entity, including foreign entity
“Funding Parties”), with the understanding, whether recorded m wnt.ng or
otherwise, that the Company shall, whether, directly or indirectly
Other persons or entities identified in any manner whatsoever by or on behalf o
Funding Party (“Ultimate Beneficiaries”) or prov.de any guarantee, security or the

like on behalt ot the Ultimate Beneficiaries,

(c) Based on the audit procedures that have been considered reasonable and
appropriate in the circumstances, noth.ng has come to our notice that has caused u
to believe that the representations under sub-clause (0 and (») of Rule 11(e), as
provided under (a) and (b) above, contain any material misstatement.

(v) The Company has not declared any dividend during the year. Hence reporting
requirements under rule 11(f) of Companies (Audit and Auditors) Rules. 2014 a
not applicable to the Company.

(vi) (a) Based on our examination carried out in accordance with the Implementation

Guidance on Reporting on Audit Trail under Rule 11(g) of the Companies (Audit
and Auditors) Rules,2014 (Revised 2024 Edition) issued by the Institute ot
Chartered Accountants of India, which included test checks, we report that the
company has used an accounting software for maintaining its books of account
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.
Further during the course of our audit we did not come across any instance of audit
trail feature being tampered with.

(b) Additionally, the audit trail has been preserved by the company as per the
statutory requirements for record retention. Our examination of the audit trail was
in the context of an audit of financial statements carried out in accordance with the
Standard of Auditing and only to the extent required by Rule 11(g) ot the
Companies (Audit and Auditors) Rule. 2014. We have not Carried out any audit or

* '

examination of the audit trail heyond the matters required hy the aforesaid Rule
11(g) nor have we carried out any standalone audit or examination of audit trail.

• n V.R. Bansal & Associates
Chartered Accountants

(far vfirm ReeistratioiyNoT$ll6534N

f.*/} /Rajan Bansal)

Dated: 28/05/2024 \ / Partner

Place: Delhi / Membership No. 093591

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