Company: TOP
Filing Date: 2025-04-04
Form Type: POS AM
Source: 0001213900-25-029013
Chunk: 81

Company: TOP Financial Group Ltd
Filing Date: 2025-04-04
Form: POS AM
Chunk 81
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 restated memorandum and articles
of association provide for indemnification of officers and directors for losses, damages, costs and expenses incurred in their capacities
as such unless such losses or damages arise from their own willful neglect or default.

Insofar as indemnification for liabilities arising
under the Securities Act may be permitted to our directors, officers or persons controlling us under the foregoing provisions, we have
been informed that in the opinion of the SEC, such indemnification is against public policy as expressed in the Securities Act and is
therefore unenforceable as a matter of United States law.

Any underwriting agreement entered into in connection
with an offering of securities will also provide for indemnification of us and our officers and directors in certain cases.

Item 9. Exhibits

The following exhibits are attached hereto:

| Exhibit 
 Number  |     | Title                                                                                                                                              |
| 1.1*    |     | Form of Underwriting Agreement                                                                                                                     |
| 4.1***  |     | Form of Senior Debt Indenture                                                                                                                      |
| 4.2***  |     | Form of Subordinated Debt Indenture                                                                                                                |
| 4.3*    |     | Form of Senior Note                                                                                                                                |
| 4.4*    |     | Form of Subordinated Note                                                                                                                          |
| 4.5*    |     | Form of Warrant Agreement and Warrant Certificate                                                                                                  |
| 4.6*    |     | Form of Unit Agreement (including unit certificate)                                                                                                |
| 4.7*    |     | Form of Rights Agreement (including rights certificate)                                                                                            |
| 4.8*    |     | Form of Share Purchase Contract                                                                                                                    |
| 4.9*    |     | Form of Share Purchase Unit                                                                                                                        |
| 5.1***  |     | Opinion of Harney Westwood & Riegels, Cayman Islands counsel of TOP Financial Group Limited, regarding the validity of securities being registered |
| 5.2***  |     | Opinion of Ortoli Rosenstadt LLP, United States counsel of TOP Financial Group Limited, regarding the validity of debt securities being registered |
| 23.1*** |     | Consent of YCM CPA INC.                                                                                                                            |
| 23.2*** |     | Consent of Harney Westwood & Riegels                                                                                                               |
| 23.3*** |     | Consent of Ortoli Rosenstadt LLP (included in Exhibit 5.2)