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Oscar Global Ltd.

BSE: 530173 Sector: Others
NSE: N.A. ISIN Code: INE473F01010
BSE LIVE 14:06 | 08 Sep 6.20 0.27
(4.55%)
OPEN

6.20

HIGH

6.20

LOW

6.20

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 6.20
PREVIOUS CLOSE 5.93
VOLUME 5
52-Week high 8.48
52-Week low 4.17
P/E
Mkt Cap.(Rs cr) 2
Buy Price 0.00
Buy Qty 0.00
Sell Price 6.20
Sell Qty 95.00
OPEN 6.20
CLOSE 5.93
VOLUME 5
52-Week high 8.48
52-Week low 4.17
P/E
Mkt Cap.(Rs cr) 2
Buy Price 0.00
Buy Qty 0.00
Sell Price 6.20
Sell Qty 95.00

Oscar Global Ltd. (OSCARGLOBAL) - Auditors Report

Company auditors report

The Shareholders

OSCAR GLOBAL LIMITED

NEW DELHI.

Report on the Standalone Financial Statements

We have audited the accompanying standalone financial statements of OSCAR GLOBALLIMITED ("the Company") which comprise the Balance Sheet as at 31st March2016 the Statement of Profit and Loss the Cash Flow Statement for the year then endedand a summary of the significant accounting policies and other explanatory information.

Management’s Responsibility for the Standalone Financial Statements

The Company’s Board of Directors is responsible for the matters stated in Section134(5) of theCompanies Act 2013 ("the Act") with respect to the preparation ofthese standalone financialstatements that give a true and fair view of the financialposition financial performance and cash flows of the Company in accordance with theaccounting principles generally accepted in India including the Accounting Standardsspecified under Section 133 of the Act read with Rule 7 of the Companies (Accounts)Rules 2014 (as amended). This responsibility also includes maintenance of adequateaccounting records in accordance with the provisions of the Act for safeguarding of theassets of the Company and for preventing and detecting frauds and other irregularities;selection and application of appropriate accounting policies; making judgments andestimates that are reasonable and prudent; and design implementation and maintenance ofadequate internal financial controls that were operating effectively for ensuring theaccuracy and completeness of the accounting records relevant to the preparation andpresentation of the financial statements that give a true and fair view and are free frommaterial misstatement whether due to fraud or error.

Auditors’ Responsibility

Our responsibility is to express an opinion on these standalone financial statementsbased on our audit.

We have taken into account the provisions of the Act the accounting and auditingstandards and matters which are required to be included in the audit report under theprovisions of the Act and the Rules made there under.

We conducted our audit in accordance with the Standards on Auditing specified underSection 143(10) of the Act. Those Standards require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance about whetherthe standalone financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts andthe disclosures in the financial statements. The procedures selected depend on theauditor’s judgment including the assessment of the risks of material misstatement ofthe financial statements whether due to fraud or error. In making those risk assessmentsthe auditor considers internal financial control relevant to the Company’spreparation of the financial statements that give a true and fair view in order to designaudit procedures that are appropriate in the circumstances. An audit also includesevaluating the appropriateness of the accounting policies used and the reasonableness ofthe accounting estimates made by the Company’s Directors as well as evaluating theoverall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the standalone financial statements.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid standalone financial statements give the information requiredby the Act in the manner so required and give a true and fair view in conformity with theaccounting principles generally accepted in India of the state of affairs of the Companyas at 31st March 2016 and its profits and its cash flows for the year ended on thatdate.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor’s Report) Order 2016 ("theOrder") issued by the Central Government of India in terms of sub-section (11) ofsection 143 of the Act we give in the Annexure a statement on the matters specified inthe paragraph 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 bestof 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 theCompany so far as it appears from our examination of those books;

c) The Balance Sheet the Statement of Profit and Loss and the Cash Flow Statementdealt with by this Report are in agreement with the books of account;

d) In our opinion the aforesaid standalone financial statements comply with theAccounting Standards specified under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014 (as amended);

e) On the basis of the written representations received from the directors as on 31stMarch 2016 and taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2016 from being appointed as a director in terms of Section164 (2) of the Act;

f) With respect to the other matters to be included in the Auditor’s Report inaccordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014 in our opinionand to the best of our information and according to the explanations given to us:

i. The company does not have pending litigation which may impact its financialposition.

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

iii. There were no amounts which were required to be transferred to the InvestorEducation and Protection Fund by the Company.

For DUBEY & Co.
Chartered Accountants
DEEPAK DUBEY
Proprietor
PLACE:NEW DELHI Membership No.: 086349
DATE: 10.05.2016 FRN :07515N

ANNEXURE A TO THE INDEPENDENT AUDITORS’ REPORT

The Annexure referred to in our report to the members of OSCAR GLOBAL LIMITED("the Company") for the year ended on 31st March 2016. We report that:

(i) In Respect of Fixed Assets

a) The company has maintained proper records showing full particulars includingquantitative details and situation of fixed assets.

b) Fixed assets have been physically verified by the management at reasonableintervals; No material discrepancies were noticed on such verification.

c) According to the information and explanations given to us and on the basis of ourexamination of the records of the Company the title deeds of immovable properties areheld in the name of the Company.

(ii) In Respect of Inventory

Physical verification of inventory has been conducted at reasonable intervals by themanagement and no material discrepancies were noticed at the time of verification.

(iii) Loans and advances granted to parties covered under section 189 of the CompaniesAct 2013

The company has not granted any loan secured or unsecured to companies firms or otherparties covered in the register maintained under Sec 189 of the Act. Accordingly theprovisions of clauses 3(iii)(a) 3(iii)(b) and 3(iii)(c) of the Order are not applicable.

(iv) Loans investments guarantees and security under section 185 and 186 of theCompanies Act 2013

The company has neither given any loan nor made any investment or given any securitiesas per Sec 185 and 186 of the Act. Accordingly the provisions of clauses 4 of the Orderis not applicable.

(v) Rules followed while accepting Deposits

The company has not accepted any deposit from public during the year. In our opinionand according to the information and explanation given to us the provisions of section 73to 76 or any other relevant provisions of the companies Act 2013 and companies(Acceptance of deposits) Rules 2014 with regard to deposits from the public is notapplicable in the current year. No order has been passed by Company Law Board or nationalcompany law tribunal or Reserve Bank of India or any court or any other tribunal in thisregard.

(vi) Maintenance of cost records

The provisions of maintenance of cost records under sub-section (l) of section 148 ofthe Companies Act 2013 is not applicable.

(vii) According to the information and explanations given to us in respect of statutorydues

(a) The company is regular in depositing with appropriate authorities undisputedstatutory dues including income- tax sales-tax service tax duty of customs duty ofexcise value added tax cess andany other statutory dues to the appropriate authoritiesand other material statutory dues applicable to it.

(b) According to the information and explanations given to us no undisputed amountspayable in respect of income- tax sales-tax service tax or cess and any other statutorydues with the appropriate authorities were in arrears as at 31st March 2016 for a periodof more than six months from the date they became payable.

(viii) Default in Repayment of Loans taken from Bank or Financial Institutions

Not Applicable

(ix) The Company has not raised moneys by way of initial public offer or further publicoffer (including debt instruments) and term loans during the year. Accordingly theprovisions of clauses 9 of the Order is not applicable

(x) whether any fraud by the company or any fraud on the Company by its officers oremployees has been noticed or reported during the year

According to the information and explanation given to us no fraud by the company orany fraud on the Company by its officers or employees has been noticed or reported duringthe year.

(xi) whether managerial remuneration has been paid or provided in accordance with therequisite approvals mandated by the provisions of section 197 read with Schedule V to theCompanies Act

According to the information and explanations give to us and based on our examinationof the records of the Company the Company has paid/provided for managerial remunerationin accordance with the requisite approvals mandated by the provisions of section 197 readwith Schedule V to the Act.

(xii) whether the Nidhi Company has complied with the Net Owned Funds to Deposits inthe ratio of 1: 20 to meet out the liability.

Not Applicable

(xiii) whether all transactions with the related parties are in compliance withsections 177 and 188 of Companies Act 2013

The company has not entered into any transaction covered under Sections 177 and 188 ofthe Act. Accordingly the provisions of clauses 13 of the Order are not applicable.

(xiv) The company has not made any preferential allotment or private placement ofshares or fully or partly convertible debentures during the year under review thus therequirement of section 42 of the Companies Act 2013 need not to be complied with.Accordingly the provisions of clauses 14 of the Order are not applicable.

(xv) The company has not entered into any non-cash transactions with directors orpersons connected with him as per the provisions of section 192 of the Act. Accordinglythe provisions of clauses 15 of the Order are not applicable.

(xvi) The company is not required to be registered under section 45-IA of the ReserveBank of India Act 1934.

For DUBEY & Co.
Chartered Accountants
DEEPAK DUBEY
Proprietor
PLACE:NEW DELHI Membership No.: 086349
DATE: 10.05.2016 FRN :07515N

ANNEXURE B TO THE AUDITORS’ REPORT

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section143 of the Companies Act 2013 ("the Act")

We have audited the internal financial controls over financial reporting of OscarGlobal Limited ("the Company") as of 31 March 2016 in conjunction with our auditof the standalone financial statements of the Company for the year ended on that date.

Management’s Responsibility for Internal Financial Controls

The Company’s management is responsible for establishing and maintaining internalfinancial controls based on the internal control over financial reporting criteriaestablished by the Company considering the essential components of internal control statedin the Guidance Note on Audit of Internal Financial Controls over Financial Reportingissued by the Institute of Chartered Accountants of India (‘ICAI’). Theseresponsibilities include the design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the orderly and efficientconduct of its business including adherence to company’s policies the safeguardingof its assets the prevention and detection of frauds and errors the accuracy andcompleteness of the accounting records and the timely preparation of reliable financialinformation as required under the Companies Act 2013.

Auditors’ Responsibility

Our responsibility is to express an opinion on the Company’s internal financialcontrols over financial reporting based on our audit. We conducted our audit in accordancewith the Guidance Note on Audit of Internal Financial Controls over Financial Reporting(the "Guidance Note") and the Standards on Auditing issued by ICAI and deemedto be prescribed under section 143(10) of the Companies Act 2013 to the extentapplicable to an audit of internal financial controls both applicable to an audit ofInternal Financial Controls and both issued by the Institute of Chartered Accountants ofIndia. Those Standards and the Guidance Note require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance about whetheradequate internal financial controls over financial reporting was established andmaintained and if such controls operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy ofthe internal financial controls system over financial reporting and their operatingeffectiveness. Our audit of internal financial controls over financial reporting includedobtaining an understanding of internal financial controls over financial reportingassessing the risk that a material weakness exists and testing and evaluating the designand operating effectiveness of internal control based on the assessed risk. The proceduresselected depend on the auditor’s judgment including the assessment of the risks ofmaterial misstatement of the financial statements whether due to fraud or error. Webelieve that the audit evidence we have obtained is sufficient and appropriate to providea basis for our audit opinion on the Company’s internal financial controls systemover financial reporting.

Meaning of Internal Financial Controls over Financial Reporting

A company’s internal financial control over financial reporting is a processdesigned to provide reasonable assurance regarding the reliability of financial reportingand the preparation of financial statements for external purposes in accordance withgenerally accepted accounting principles. A company’s internal financial control overfinancial reporting includes those policies and procedures that (1) pertain to themaintenance of records that in reasonable detail accurately and fairly reflect thetransactions and dispositions of the assets of the company; (2) provide reasonableassurance that transactions are recorded as necessary to permit preparation of financialstatements in accordance with generally accepted accounting principles and that receiptsand expenditures of the company are being made only in accordance with authorisations ofmanagement and directors of the company; and (3) provide reasonable assurance regardingprevention or timely detection of unauthorised acquisition use or disposition of thecompany’s assets that could have a material effect on the financial statements.

Inherent Limitations of Internal Financial Controls Over Financial Reporting

Because of the inherent limitations of internal financial controls over financialreporting including the possibility of collusion or improper management override ofcontrols material misstatements due to error or fraud may occur and not be detected.Also projections of any evaluation of the internal financial controls over financialreporting to future periods are subject to the risk that the internal financial controlover financial reporting may become inadequate because of changes in conditions or thatthe degree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion the Company has in all material respects an adequate internalfinancial controls system over financial reporting and such internal financial controlsover financial reporting were operating effectively as at 31 March 2016 based on theinternal control over financial reporting criteria established by the Company consideringthe essential components of internal control stated in the Guidance Note on Audit ofInternal Financial Controls Over Financial Reporting issued by the Institute of CharteredAccountants of India.

For DUBEY & Co.
Chartered Accountants
DEEPAK DUBEY
Proprietor
PLACE:NEW DELHI Membership No.: 086349
DATE: 10.05.2016 FRN :07515N