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Macro International Ltd.

BSE: 512600 Sector: Infrastructure
NSE: N.A. ISIN Code: INE307N01014
BSE 00:00 | 21 Nov Macro International Ltd
NSE 05:30 | 01 Jan Macro International Ltd
OPEN 9.19
PREVIOUS CLOSE 9.19
VOLUME 54
52-Week high 10.17
52-Week low 9.19
P/E 306.33
Mkt Cap.(Rs cr) 4
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 9.19
CLOSE 9.19
VOLUME 54
52-Week high 10.17
52-Week low 9.19
P/E 306.33
Mkt Cap.(Rs cr) 4
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Macro International Ltd. (MACROINTL) - Auditors Report

Company auditors report

TO THE MEMBERS OF MACRO INTERNATIONAL LTD.

KANPUR

REPORT ON THE FINANCIAL STATEMENTS

We have audited the accompanying standalone financial statements of MACRO INTERNATIONALLTD (“the Company”) which comprise the Balance Sheet as at 31stMarch2018 theStatement of Profit and Loss the Cash Flow Statement for the year then ended and asummary 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 the Companies Act 2013 (“the Act”) with respect to the preparation ofthese standalone financial statements 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.

Auditor's 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 accountingand auditing standards and matters which are required to be included in the audit reportunder the provisions 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 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 of thefinancial statements whether due to fraud or error. In making those risk assessments

The auditor considers internal financial control relevant to the Company's preparationof the financial statements that give a true and fair view in order to design auditprocedures that are appropriate in the circumstances.An audit also includes evaluating theappropriateness of the accounting policies used and the reasonableness of the accountingestimates made by the Company's Directors as well as evaluating the overall presentationof 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 2018 and its loss and its cash flows for the year ended on that date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies(Auditor's Report) Order2016('the Order')issued by theCentral Government of India in terms of sub section (11) of Section 143 of the Act wegive in the Annexure A a statement on the matters specified in the paragraphs 3 and 4 ofthe order.

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.

(e) On the basis of the written representations received from the directors as on31stMarch2018 taken on record by the Board of Directors none of the directors isdisqualified as on 31stMarch2018 from being appointed as a director in terms of Section164 (2) of the Act.

(f) With respect to the adequacy of the internal financial controls over financialreporting of the Company and the operating effectiveness of such controls refer to ourseparate Report in “Annexure B” ;and

(g) 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 any pending litigations which would 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 Om P. Agarwal & Associates
(Chartered Accountants)
Om Prakash Agarwal
(Proprietor)
Place : Kanpur M.No.017821
Date : 28.05.2018 FRN No. 006948C

Annexure - B to the Auditors' Report

(Referred to in paragraph 2 under 'Report on Other Legal and Regulatory Requirements'section of Independent Auditor's Report on financial statement of even date.)

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 of MACROINTERNATIONAL LTD. (“the Company”) as of 31 March 2018 in conjunction with ouraudit of the standalone financial statements of the Company for the year ended on thatdate. 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'). These responsibilitiesinclude the design implementation and maintenance of adequate internal financial controlsthat were operating effectively for ensuring the orderly and efficient conduct of itsbusiness including adherence to company's policies the safeguarding of its assets theprevention and detection of frauds and errors the accuracy and completeness of theaccounting records and the timely preparation of reliable financial information asrequired 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.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a 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 process designedto provide reasonable assurance regarding the reliability of financial reporting and thepreparation of financial statements for external purposes in accordance with generallyaccepted accounting principles. A company's internal financial control over financialreporting includes those policies and procedures that

(1) Pertain to the maintenance of records that in reasonable detail accurately andfairly reflect the transactions and dispositions of the assets of the company;

(2) Provide reasonable assurance that transactions are recorded as necessary to permitpreparation of financial statements in accordance with generally accepted accountingprinciples and that receipts and expenditures of the company are being made only inaccordance with authorisations of management and directors of the company; and

(3) Provide reasonable assurance regarding prevention or timely detection ofunauthorised acquisition use or disposition of the company's assets that could have amaterial 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 2018 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 our audit opinion on the Company's internal financial controlssystem over financial reporting.

For Om P. Agarwal & Associates
(Chartered Accountants)
Om Prakash Agarwal
(Proprietor)
Place : Kanpur M.No.017821
Date : 28.05.2018 FRN No. 006948C

ANNEXURE 'A' TO THE AUDITORS' REPORT

The annexure referred to in Independent Auditors Report to the members of the Companyon the financial statements for the year ended 31st March 2018 we report that;

(I) (a) The Company has maintained proper records showing full particulars includingquantitative details and situation of fixed assets;

(b) The fixed assets of the Company have been physically verified by the management atreasonable intervals during the year; No material discrepancies were noticed on suchverification;

(c) According to the information and explanation given to us and on the basis of theexamination of the records of the company there is no immovable property held in the nameof the company. Therefore paragraph 3(i)(c) of the order is not applicable.

(ii) The Company does not have inventory as there was no commercial activity beingcarried by the Company during the year. Therefore paragraph 3(ii) of the order is notapplicable.

(iii) According to the information and explanation given to us the company has notgranted any loans secured or unsecured to Companies Firms Limited Liability Partnershipother parties covered in the register maintained under section 189 of the Companies Act2013. Therefore paragraph 3(iii) of the order is not applicable.

(iv) According to the information and explanation given to us and on the basis ofexamination of the records of the Company the Company has neither given loans nor madeany investment during the year to the persons or parties referred in section 185 &186 therefore provisions of section 185 and 186 are not applicable. Accordingly paragraph3(iv) of the order is not applicable to the Company.

(v) According to the information and explanation given to us and on the basis of theexamination of the records of the Company; The Company has not accepted any deposits frompublic. Therefore paragraph 3(v) of the order is not applicable.

(vi) The Company is not required to maintain any cost records that have been specifiedby the Central Government under sub-section (1) of section 148 of the Companies Act 2013.Therefore paragraph 3(vi) of the order is not applicable.

(vii) (a) According to the information and explanation given to us and on the basis ofour examination of the records of the Company the Company has been regular in depositingits undisputed statutory dues including income tax cess and other material statutory dueswith the appropriate authority. As explained to us there are no undisputed statutory duesas mentioned above in arrears as at 31stMarch 2018 for a period of more than six monthsfrom the date they became payable.

(b) According to the information and explanation given to us there are no material dueson account of income tax cess that has not been deposited with the appropriate authorityon account of any dispute.

(viii) According to the information and explanation given to us and on the basis of ourexamination of records of the Company the Company does not have any loans or borrowingfrom any financial institutions bank Government or dues to debenture holders during theyear. Therefore paragraph 3(viii) of the order is not applicable.

(ix) According to the information and explanation given to us and on the basis of ourexamination of records of the Company the Company did not raise any money by way ofinitial public offer or further public offer (including debt instruments) and term loansduring the year. Therefore paragraph 3(ix) of the order is not applicable.

(x) During the course of our examination of the books and records of the Company carried out in accordance with the generally accepted auditing practices in India andaccording to the information and explanations given to us we have neither come across anyinstance of material fraud by the Company or on the Company by its officers or employeesnoticed or reported during the year nor have we been informed of any such case by theManagement.

(xi) According to the information and explanation given to us and on the basis of ourexamination the company has paid/ provided for managerial remuneration in accordance withthe requisite approvals mandated by the provisions of section 197 read with Schedule V tothe Companies Act.

(xii) In our opinion and according to the information and explanation given to us thecompany is not a nidhi company. Therefore paragraph 3(xii) of the order is notapplicable.

(xiii) According to the information and explanation given to us and on the basis of ourexamination of the records of the Company there are no transactions with the relatedparty during the year therefore provision of sections 177 & 188 of the act are notapplicable to the Company. However as per the recommendation of applicable accountingstandards the transactions have been properly disclosed in the financial statement.

(xiv) According to the information and explanation given to us and on the basis of ourexamination of the records of the Company the Company has not made any preferentialallotment or private placement of shares or fully or partly convertible debentures duringthe year. Therefore paragraph 3(xiv) of the order is not applicable.

(xv) According to the information and explanation given to us and on the basis of ourexamination of the records of the Company the Company has not entered into any non-cashtransactions with the directors or persons connected with him as specified under section192 of the Act. Therefore paragraph 3(xv) of the order is not applicable

(xvi) The company is not required to be registered under section 45-IA of the ReserveBank of India Act 1934. Therefore paragraph 3(xvi) of the order is not applicable

For Om P. Agarwal & Associates
(Chartered Accountants)
Om Prakash Agarwal
(Proprietor)
Place : Kanpur M.No.017821
Date : 28.05.2018 FRN No. 006948C