Murae Organisor Ltd. के अकाउंट के लिये नोट

Mar 31, 2025

The Company recognizes provisions when a present obligation (legal or constructive) as a result of a past event exists and it is
probable that an outflow of resources embodying economic benefits will be required to settle such obligation and the amount of
such obligation can be reliably estimated.

If the effect of time value of money is material, provisions are discounted using a current pre-tax rate that reflects, when
appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is
recognized as a finance cost.

A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably will
not require an outflow of resources embodying economic benefits or the amount of such obligation cannot be measured reliably.
When there is a possible obligation or a present obligation in respect of which likelihood of outflow of resources embodying
economic benefits is remote, no provision or disclosure is made.

k) Cash and Cash Equivalents

Cash and Cash equivalents for the purpose of Cash Flow Statement comprise cash and cheques in hand, bank balances, demand
deposits with banks where the original maturity is three months or less and other short term highly liquid investments.

l) Employee Benefits

Short Term Employee Benefits:

All employee benefits payable wholly within twelve months of rendering the service are classified as short term employee benefits
and they are recognized in the period in which the employee renders the related service. The Company recognizes the
undiscounted amount of short term employee benefits expected to be paid in exchange for services rendered as a liability (accrued
expense) after deducting any amount already paid.

Post-Employment Benefits:

Defined Benefit plans:

i) Provident Fund scheme:

Contribution as required by the statute made to the Government provident fund is debited to Profit and loss statement.

ii) Gratuity scheme:

The cost of providing defined benefits is determined using the Projected Unit Credit method with actuarial valuations being carried
out at each reporting date. The defined benefit obligations recognized in the Balance Sheet represent the present value of the
defined benefit obligations as reduced by the fair value of plan assets, if applicable. Any defined benefit asset (negative defined
benefit obligations resulting from this calculation) is recognized representing the present value of available refunds and reductions
in future contributions to the plan.

All expenses represented by current service cost, past service cost, if any, and net interest on the defined benefit liability / (asset)
are recognized in the Statement of Profit and Loss. Remeasurements of the net defined benefit liability / (asset) comprising
actuarial gains and losses and the return on the plan assets (excluding amounts included in net interest on the net defined benefit
liability/asset), are recognized in Other Comprehensive Income. Such remeasurements are not reclassified to the Statement of
Profit and Loss in the subsequent periods.

The Company presents the above liability/(asset) as current and non-current in the Balance Sheet as per actuarial valuation by the
independent actuary.

m) Borrowing Cost

Borrowing cost includes interest, amortization of ancillary costs incurred in connection with the arrangement of borrowings and

exchange differences arising from foreign currency borrowings to the extent they are regarded as an adjustment to the interest cost.

Borrowing costs, if any, directly attributable to the acquisition, construction or production of an asset that necessarily takes a
substantial period of time to get ready for its intended use or sale are capitalized, if any. All other borrowing costs are expensed in
the period in which they occur.

n) Segment Reporting

The Chairman and Managing Director of the Company has been identified as the Chief Operating Decision Maker (CODM) as
defined by IND AS 108, " Operating Segments". The Company operates in one segment only i.e. "Providing services for
procurement of orders". The CODM evaluates performance of the Company based on revenue and operating income from
"Providing services for procurement of orders". Accordingly, segment information has not been seperately disclosed.

o) Events after Reporting date

Where events occurring after the Balance Sheet date provide evidence of conditions that existed at the end of the reporting period,
the impact of such events is adjusted within the financial statements. Otherwise, events after the Balance Sheet date of material
size or nature are only disclosed.

p) Earnings per share

Basic EPS is calculated in accordance with Ind AS - 33 '' Earning per Share" by dividing the profit / loss for the year attributable to
ordinary equity holders of the Company by the weighted average number of ordinary shares outstanding during the year.

Diluted EPS is calculated in accordance with Ind AS - 33 '' Earning per Share" by dividing the profit / loss attributable to ordinary
equity holders of the parent by the weighted average number of ordinary shares outstanding during the year plus the weighted
average number of ordinary shares that would be issued on conversion of all the dilutive potential ordinary shares into ordinary
shares.

q) Recent accounting pronouncements and its effect on financials
Ind AS 116 Leases :

On March 30, 2019, Ministry of Corporate Affairs has notified Ind AS 116, Leases. Ind AS 116 will replace the existing leases
Standard, Ind AS 17 Leases, and related Interpretations. The Standard sets out the principles for the recognition, measurement,
presentation and disclosure of leases for both parties to a contract i.e., the lessee and the lessor. Ind AS 116 introduces a single
lessee accounting model and requires a lessee to recognize assets and liabilities for all leases with a term of more than twelve
months, unless the underlying asset is of low value. Currently, operating lease expenses are charged to the statement of Profit &
Loss. The Standard also contains enhanced disclosure requirements for lessees. Ind AS 116 substantially carries forward the
lessor accounting requirements in Ind AS 17.

The effective date for adoption of Ind AS 116 is annual periods beginning on or after April 1, 2019. The standard permits two
possible methods of transition:

1> Full restrospective - Restrospectively to each prior period presented applying Ind AS 8 Accounting policies,Changes in
accounting estimates and errors

2> Modified restrospective - Restrospectively, with the cumulative effect of initially applying the standard recognized at the date of
initial application

Under modified retrospective approach, the lessee records the lease liability as the present value of the remaining lease payments,
discounted at the incremental borrowing rate and the right of use asset either as:

> Its carrying amount as if the standard had been applied since the commencement date, but
discounted at lessee''s incremental borrowing rate at the date of initial application or

> An amount equal to the lease liability, adjusted by the amount of any prepaid or accrued lease payments related to that lease
recognized under Ind AS 17 immediately before the date of initial application.

Effective April 01,2019, the company has adopted Ind AS 116 ''Leases'' using modified restropective appraoch. The adoption of the
standard did not have any material impact on the financial results.

Ind AS 12 Appendix C, Uncertainty over Income Tax Treatments

On March 30, 2019, Ministry of Corporate Affairs has notified Ind AS 12 Appendix C, Uncertainty over Income Tax Treatments
which is to be applied while performing the determination of taxable profit (or loss), tax bases, unused tax losses, unused tax credits
and tax rates, when there is uncertainty over income tax treatments under Ind AS 12. According to the appendix, companies need
to determine the probability of the relevant tax authority accepting each tax treatment, or group of tax treatments, that the
companies have used or plan to use in their income tax filing which has to be considered to compute the most likely amount or the
expected value of the tax treatment when determining taxable profit (tax loss), tax bases, unused tax losses, unused tax credits and
tax rates.

The standard permits two possible method of transition :

1> Full restrospective approach - under this approach,Appendix C will be applied restrospectively to each prior reporting period

presented in accordance with Ind AS 8 - Accounting Policies, Changes in Accounting Estimates and Errors, without using hindsight
2> Restrospectively, with the cumulative effect of initially applying Appendix C recognized by adjusting equity on initial application,
without adjusting comparatives

Effective April 01, 2019, the company has adopted Ind AS 12 Appendix C using Restrospectively, with the cumulative effect of
initially applying Appendix C recognized by adjusting equity on initial application, without adjusting comparatives. The adoption of
the standard did not have any material impact on the financial results.

The Company has elected to exercise the option permitted under section 115BAA of the Income Tax Act, 1961 as introduced by the
Taxation Laws (Amendment) Ordinance 2019. Accordingly, the Company has recognised provision for the income tax for the year
ended 31.03.2020 and re-measured its Deferred Tax Assets based on rate prescribed in the said section.

2.4 Key accounting estimates and judgements

The estimates and judgements used in the preparation of the financial statements are continuously evaluated by the Company and
are based on historical experience and various other assumptions and factors (including expectations of future events) that the
Company believes to be reasonable under the existing circumstances. Difference between actual results and estimates are
recognised in the period in which the results are known / materialised.

The said estimates are based on the facts and events, that existed as at the reporting date, or that occurred after that date but
provide additional evidence about conditions existing as at the reporting date.

The preparation of the Company’s financial statements requires the management to make judgements, estimates and assumptions
that affect the reported amounts of revenues, expenses, assets and liabilities, and the accompanying disclosures, and the
disclosure of contingent liabilities. Uncertainty about these assumptions and estimates could result in outcomes that require a
material adjustment to the carrying amount of assets or liabilities affected in future periods

Critical accounting estimates and assumptions

The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that have a
significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are
described below:

a. Income taxes

The Company’s tax jurisdiction is India. Significant judgements are involved in estimating budgeted profits for the purpose of paying
advance tax, determining the provision for income taxes, including amount expected to be paid/recovered for uncertain tax
positions

b. Defined benefit obligation

The costs of providing post-employment benefits are charged to the Statement of Profit and Loss in accordance with Ind AS 19
‘Employee benefits’ over the period during which benefit is derived from the employees’ services. The costs are assessed on the
basis of assumptions selected by the management. These assumptions include salary escalation rate, discount rates, expected
rate of return on assets and mortality rates.

c. Fair value measurement of Financial Instruments

When the fair values of financials assets and financial liabilities recorded in the Balance Sheet cannot be measured based on
quoted prices in active markets, their fair value is measured using valuation techniques, including the discounted cash flow model,
which involve various judgements and assumptions.

d. Property, Plant and Equipment

Property, Plant and Equipment represent a significant proportion of the asset base of the Company. The charge in respect of
periodic depreciation is derived after determining an estimate of an asset’s expected useful life and the expected residual value at
the end of its life. The useful lives and residual values of Company’s assets are determined by the management at the time the
asset is acquired and reviewed periodically, including at each financial year end. The lives are based on historical experience with
similar assets as well as anticipation of future events, which may impact their life, such as changes in technical or commercial
obsolescence arising from changes or improvements in production or from a change in market demand of the product or service
output of the asset.

(6) Earning and expenditure in foreign currency

The company has not entered in any foreign exchange transactions during the year.

(7) Disclosure under the Micro, Small and Medium Enterprises Development Act, 2006 are provided
as under to the extent the company has received intimation from the "Suppliers" regarding
their status under the Act.

Dues to Micro and Small Enterprises have been determined to the extent such parties have been
identified on the basis of information collected by the Management.This has been relied upon by
the auditors.

(8) Contingent Liabilities and commitments

In the opinion of the board, contingent liabilities is NIL.

(9) As per Ind AS - 23 " Borrowing Costs", the borrowing cost has been charged to Profit and Loss statement. None of the borrowing
costs have been capitalized during the year.

(10) Dividend :

The company has not paid any dividend during the year

Proposed dividend:

The Board of Directors has not proposed any dividend

(11) Previous year’s figures have been regrouped wherever necessary to make them comparable
with those of the current year.

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Mar 31, 2024

(I) Provisions and Contingencies
Provisions:

Provisions are recognized when there is a present obligation (legal or constructive] as a
result of a past event, it is probable that an outflow of resources embodying economic
benefits will be required to settle the obligation and there is a reliable estimate of the
amount of the obligation. Provisions are measured at the best estimate of the expenditure
required to settle the present obligation at the Balance sheet date and are discounted to its
present value as appropriate.

Contingent Liabilities:

Contingent liabilities are disclosed when there is a possible obligation arising from past
events, the existence of which will be confirmed only by the occurrence or nonoccurrence
of one or more uncertain future events not wholly within the control of the company or a
present obligation that arises from past events where it is either not probable that an
outflow of resources will be required to settle or a reliable estimate of the amount cannot
be made, is termed as a contingent liability.

(J) Revenue recognition

Revenue is measured at fair value of the consideration received or receivable. Revenue is
recognized when (or as] the Company satisfies a performance obligation by transferring a
promised good or service (i.e. an asset] to a customer. An asset is transferred when (or as] the
customer obtains control of that asset.

When (or as] a performance obligation is satisfied, the Company recognizes as revenue the
amount of the transaction price (excluding estimates of variable consideration] that is
allocated to that performance obligation.

The Company applies the five-step approach for recognition of revenue:

i. Identification of contract(s) with customers;

ii. Identification of the separate performance obligations in the contract;

iii. Determination of transaction price;

iv. Allocation of transaction price to the separate performance obligations; and

v. Recognition of revenue when (or as] each performance obligation is satisfied.

(K) Other income:

Interest: Interest income is calculated on effective interest rate, but recognized on a time
proportion basis taking into account the amount outstanding and the rate applicable.

Dividend: Dividend income is recognized when the right to receive dividend is established.

(L) Finance Cost

Borrowing costs that are directly attributable to the acquisition or construction of qualifying
assets are capitalized as part of the cost of such assets. A qualifying asset is one that
necessarily takes substantial period of time to get ready for its intended use. based on
borrowings incurred specifically for financing the asset or the weighted average rate of all
other borrowings, if no specific borrowings have been incurred for the asset.

Interest income earned on the temporary investment of specific borrowings pending their
expenditure on qualifying assets is deducted from the borrowing costs eligible for
capitalization.

Borrowing costs include exchange differences arising from foreign currency borrowings to the
extent they are regarded as an adjustment to the interest cost.

All other borrowing costs are charged to the Statement of Profit and Loss for the period for
which they are incurred.

(M) Earnings per share (EPS):

Basic EPS is calculated by dividing the net profit or loss for the period attributable to equity
shareholders by the weighted average number of equity shares outstanding during the period.
For the purpose of calculating diluted EPS, the net profit or loss for the period attributable to
equity shareholders and the weighted average number of additional equity shares that would
have been outstanding are considered assuming the conversion of all dilutive potential equity
shares. Earnings considered in ascertaining the EPS is the net profit for the period and any
attributable tax thereto for the period.

(N) Employee benefits

i. Provident Fund

Retirement benefit in the form of Provident Fund is a defined contribution
scheme. The Company has no obligation, other than the contribution payable to
the provident fund. The Company recognizes contribution payable to the
provident fund scheme as an expense when an employee renders the related
service.

ii. Gratuity

The Management has decided to gratuity will be accounted in profit & loss A/c in
each financial year when the claim is recognized by the company which is against
the prescribed treatment of AS -15. The Quantum of provision required to be
made for the said retirement''s benefits can be decided on actuarial basis and the
said information could not be gathered. To the extent of such amount, the reserve
would be lesser.

(O) Fair Value Measurement:

The Company measures financial instruments such as investments in quoted share, certain
other investments etc. at fair value at each Balance Sheet date.

Fair value is the price that would be received to sell an asset or paid to transfer a liability at the
measurement date. All assets and liabilities for which fair value is measured or disclosed in the
financial statements are categorized within the fair value hierarchy, described as follows, based
on the lowest level input that is significant to the fair value measurement as a whole.

Level 1 - Quoted (unadjusted) market prices in active markets for identical assets or
liabilities.

Level 2 - Valuation techniques for which the lowest level input that is significant to the
fair value measurement is directly or indirectly observable.

Level 3 - Valuation techniques for which the lowest level input that is significant to the
fair value measurement is unobservable.

Financial Instruments:

A financial instrument is any contract that gives rise to a financial asset of one entity and a
financial liability or equity instrument of another entity.

Financial assets:

Initial recognition

Financial assets are recognized when the Company becomes a party to the contractual
provisions of the instruments. Financial assets other than trade receivables and other
specific assets are initially recognized at fair value plus transaction costs for all financial
assets not carried at fair value through profit or loss. Financial assets carried at fair value
through profit or loss are initially recognized at fair value, and transaction costs are
expensed in the Statement of Profit and Loss.

Subsequent measurement

Financial assets, other than equity instruments, are subsequently measured at amortized
cost, fair value through other comprehensive income or fair value through profit or loss on
the basis of both:

i. The entity''s business model for managing the financial assets and

ii. The contractual cash flow characteristics of the financial asset.

De-recognition

The Company derecognizes a financial asset when the contractual rights to the cash flows
from the financial asset expire, or it transfers rights to receive cash flows from an asset, it
evaluates if and to what extent it has retained the risks and rewards of ownership. When it
has neither transferred nor retained substantially all of the risks and rewards of the asset,
nor transferred control of the asset, the Company continues to recognise the transferred
asset to the extent of the Company''s continuing involvement. In that case, the Company also
recognises an associated liability. The transferred asset and the associated liability are
measured on a basis that reflects the rights and obligations that the Company has retained.

Financial Liabilities:

Initial Recognition and Subsequent Measurement

All financial liabilities are recognized initially at fair value and in case of borrowings and
payables, net of directly attributable cost. Financial liabilities are subsequently carried at
amortized cost using the effective interest method. For trade and other payables maturing
within one year from the Balance Sheet date, the carrying amounts approximate fair value
due to the short maturity of these instruments. Changes in the amortised value of liability
are recorded as finance cost.

De-recognition

A financial liability is de-recognized when the obligation under the liability is discharged or
cancelled or expires. When an existing financial liability is replaced by another from the
same lender on substantially different terms, or the terms of an existing liability are
substantially modified, such an exchange or modification is treated as the derecognition of
the original liability and the recognition of a new liability. The difference in the respective
carrying amounts is recognized in the statement of profit or loss.

22. Figures in financial statement have been regrouped and / or rearranged where
ever necessary.

23. The company has not paid TDS Rs. 3.86 lacs and income tax payable as per provision
made in profit & loss account Rs. 153.09 lacs for FY. 2022-23 and FY.2021-22
excluding interest.

24. The company has demand in income tax portal of Rs. 2793.60 Lacs for A.Y. 2020-21,
AY.2022-23 and AY.2023-24 including interest.

25. The Company has not revalued its Property, Plant and Equipment for the current
year.

26. There has been no Capital work in progress for the current year of the company.

27. There are no Intangible assets under development in the current year.

28. The balances of Trade payables, Trade Receivable and loans and advances are
subject to confirmation by respective parties.

29. In the opinion of the Board of Directors, the current assets, loans and advances
are approximately of the value stated, if realized in the ordinary course of
business.

30. In the opinion of the Board of Directors, provisions for depreciation and all
liabilities are adequate and not in excess of the amount reasonably necessary.

31. Wherever external evidence in the form of cash memos / bills / supporting are
not available, the internal vouchers have been prepared, authorized and
approved.

32. Statement of Management

(i) The current assets, loans and advances are good and recoverable and are approximately of

the values, if realized in the ordinary courses of business unless and to the extent stated
otherwise in the Accounts. Provision for all known liabilities is adequate and not in
excess of amount reasonably necessary.

(ii) Balance Sheet, Statement of Profit and Loss and Cash Flow Statement read together with
Notes to the accounts thereon, are drawn up so as to disclose the information required
under the Companies Act, 2013 as well as give a true and fair view of the statement of
affairs of the Company as at the end of the year and results of the Company for the year
under review.

33. The Company has not advanced or loaned to or invested in funds to any other
person(s) or entity(is), including foreign entities (Intermediaries) with the
understanding that the Intermediary shall:

a. directly or indirectly lend to 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 to or on behalf of the Ultimate Beneficiaries

34. The Company has not received any fund from any person(s] or entity(is],
including foreign entities (Funding Party] with the understanding (whether
recorded in writing or otherwise] that the Company shall

a. directly or indirectly lend to or invest in other persons or entities identified in any
manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries] or

b. provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

35. The company does not have transaction with the struck off under section 248 of
companies act, 2013 or section 560 of Companies act 1956.

36. The company is in compliance with the number of layers prescribed under clause
(87] of section 2 of company''s act read with companies (restriction on number of
layers] Rules, 2017.

25. EARNINGS PER SHARE: -

The Company reports basic and diluted earnings per share (EPS] in accordance with the Accounting
Standard 20 prescribed under The Companies (Accounting Standards] Rules, 2006 (as amended].
The Basic EPS has been computed by dividing the income available to equity shareholders by the
weighted average number of equity shares outstanding during the accounting year. The Diluted EPS
has been computed using the weighted average number of equity shares and dilutive potential equity
shares outstanding at the end of the year.

3 0. Compliance with approved scheme of Arrangements.

Company does not have made any arrangements in terms of section 230 to 237 of companies act
2013, and hence there is no deviation to be disclosed.

31. Utilization of borrowed funds and share premium.

As on March 31, 2024 there is no unutilized amount in respect of any issue of securities and long¬
term borrowing from banks and financial institution. The borrowed funds have been utilized for
the specific purpose for which the funds were raised.

32. Corporate social responsibility (CSR).

The section 135 (Corporate social responsibility] of companies act, 2013 is not applicable to the
company.

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Mar 31, 2023

PROVISIONS, CONTINGENT LIABILITIES AND ASSETS

Provisions are recognised when the Company has a present obligation as a result of past events and
it is more likely that an outflow of resources will be required to settle the obligation and the amount
has been reliably estimated. Provisions are not discounted to present value and are determined
based on best estimate of the expenditure required to settle the obligation at the balance sheet date.
These are reviewed at each balance sheet date and adjusted to reflect the current best estimate.
Contingent Liabilities are not disclosed by way of notes to the financial statements. Contingent
assets are neither recognised nor disclosed in the financial statements. As stated by Management,
there were following Contingent Liabilities.

• There were no any provision in books of accounts for identified income tax demand
Rs.1.73 crore as per income tax website.

L. EARNING PER SHARE (EPS):

Basic earnings per share are computed by dividing the profit/(loss) after tax by the total number of
equity shares outstanding during the year. Diluted earnings per share is computed by dividing the
profit/(loss) after tax by the total number of equity shares considered for deriving basic earnings
per share.

2. RELATED PARTY DISCLOSURES:

The Company has transaction of a material nature with the promoters, Directors of management,
their subsidiaries or relatives that may have potential conflict with the interest of the company at
large. The register of contacts containing the transactions in which Directors are interested in place
before the board regularly for it approval.

4. SEGMENT REPORTING:

The Company is primarily dealing in Pharmaceutical Business i.e. trading of pharma products and
commission agent in pharma products etc. which in the context of Accounting Standard 17 on “Segment
Reporting” constitutes a single reporting segment. Further, there are no geographical segments.

5. EMPLOYEE BENEFIT EXPENCES:

Provident Funds and Employees State Insurance Fund (Defined Contribution Schemes) are administered by
Central Government of India and contribution to the said funds are charges to Profit and Loss Account or
accrual basis if any.

Leave encashment (Defined Benefit Scheme) is provided annually based on management estimates in
accordance with the policies of the company if any.

The Provision of Gratuity is Rs. Nil.

6. Any material gains/ losses which arise from the events or transaction which are Events Occurring after the
Balance Sheet Date of the company are separately disclosed if any.

7. Auditor’s remuneration:

During the year under consideration provision has made for Auditor’s remuneration.

31 March 2023 31 March 2022

Statutory Audit Fees (in Rupees) 29,500 29,500

8. Director’s remuneration:

During the year under consideration provision has made for Director’s remuneration.

For which no resolution is passed in the AGM for same or has not obtained any information.

31 March 2023 31 March 2022

Remuneration (in Rupees) 0.00 0.00

9. As certified by company that it has received written representation from all the directors. That companies is
which they are directors had not defaulted in terms of section 164(2) of the Companies Act, 2013, and that
representations of directors takes in Board that Director is disqualified from being appointed as director of the
company.

10. The property plant and equipment register not produce before us.

11. The management has informed that the Company has not received any memorandum (as required to
be filled by the suppliers with the notified authority under Micro, Small and Medium Enterprise
Development Act, 2006) claiming their status during the year as micro, small or medium enterprises.
Consequently there are no amounts paid/ payable to such parties during the year.

12. Expenditure in foreign currency is Rs. NIL/- in respect of Foreign Travelling.

13. Export Sales in foreign currency is NIL/- (In Indian Rupees). However, Other Income in foreign
currency is Rs. Nil.

14. There is No Any Amalgamation or Acquisition with Other Company / Firm / Entity by the company
during the financial year.

15. The company has not received any type of Government Grants or Subsidies.

16. The company has enter into any Lease Agreement.

17. No segment or part of company is discontinued or sold during the year.

18. The company has not entered into any Joint Venture.

19. Previous year figures have been regrouped /rearranged wherever necessary to correspond with the
current year’s classifications/disclosure.

20. Particulars of licensed capacity or production capacity is Nil/- of the company.

21. The company is engaged primarily in Pharmaceutical Business i.e. trading of pharma products
and commission agent in pharma products etc.. As per AS-108 Operating Segment, none of the
segment/products exceeds specified limits for the purpose of reporting as per AS-108 is not
applicable.

22. Deferred Tax Asset amounting to NIL/- has been created with respect to fixed assets considering the
prudence aspect.

23. Audit committee minutes not produced before us.

24. The turnover with GST is subject to verification of reconsilation.

25. All of the Debit, Credit, Balances including, Loans & advances lying in various party’s Customer’s
accounts are subject to their balance confirmation.

For, EARUM PHARMACEUTICALS LIMITED For, J.M. Patel & Bros.

Chartered Accountants
F.R.No.107707W

BHUMISHTH PATEL PAYAL B. PATEL (CAJ.M. Patel)

Managing Director Director & CFO M.COM. F.C.A.

DIN: 02516641 DIN: 05300011 M. No. 030161

UDIN: 23030161B GRRQ V8934

Place: Ahmedabad
Date: 29/05/2023