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Macro International Ltd.

BSE: 512600 Sector: Infrastructure
NSE: N.A. ISIN Code: INE307N01014
BSE 00:00 | 12 Feb Macro International Ltd
NSE 05:30 | 01 Jan Macro International Ltd
OPEN 9.19
PREVIOUS CLOSE 9.19
VOLUME 1
52-Week high 9.19
52-Week low 9.19
P/E
Mkt Cap.(Rs cr) 4
Buy Price 0.00
Buy Qty 0.00
Sell Price 9.19
Sell Qty 1.00
OPEN 9.19
CLOSE 9.19
VOLUME 1
52-Week high 9.19
52-Week low 9.19
P/E
Mkt Cap.(Rs cr) 4
Buy Price 0.00
Buy Qty 0.00
Sell Price 9.19
Sell Qty 1.00

Macro International Ltd. (MACROINTL) - Auditors Report

Company auditors report

TO THE MEMBERS OF MACRO INTERNATIONAL LTD. KANPUR

REPORTONTHEAUDITOF STANDALONE FINANCIAL STATEMENTS

Opinion

1. We have audited the accompanying standalone financial statements of MACROINTERNATIONAL LTD ("the Company") which comprise the Balance Sheet as at 31stMarch 2019 and the statement of Profit and Loss and statement of cash flows forthe year then ended and notes to the financial statements including a summary ofsignificant accounting policies and other explanatory information.

2. 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 Companies Act 2013 ("the Act") in the manner so required and give a trueand fair view in conformity with the accounting principles generally accepted in India ofthe state of affairs of the Company as at31slMarch 2019 and its Loss and itscash flows for the year ended on thatdate.

Basis forOpinion

3. We conducted our audit in accordance with the Standards on Auditing (SAs) specifiedunder section 143(10) of the Act. Our responsibilities under those Standards a re furtherdescribed in the Auditor's Responsibilities for the audit of the Financial Statementssection of our report. We are independent of the Company in accordance with the Code ofEthics issued by the Institute of Chartered Accountants of India together with the ethicalrequirements that are relevant to our audit of the financial statements under theprovisions of the Act and the Rules there under and we have fulfilled our other ethicalresponsibilities in accordance with these requirements and the Code of Ethics. We believethat the audit evidence we have obtained is sufficient and appropriate to provide a basisfor our opinion.

Key audit matters

Key audit matters are those matters that in our professional judgments were of mostsignificant in our audit forthe financial statements of the current period.

4. These matters were addressed in the context of our audit of the financial statementsas a whole and in forming our opinion thereon and we do not provide a separate opinionon the matters.

Other Information

5. The Company's Board of Directors is responsible for the other information. The otherinformation comprises the information included in the Annual Report but does not includethe financial statements and our auditor's report thereon.

Our opinion on the financial statements does not cover the other information and we donot express any form of assurance conclusion thereon.

In connection with our audit of the financial statements our responsibility is to readthe other information and in doing so consider whether the information is materiallyinconsistent with the financial information or our knowledge obtained in the audit orotherwise appears to be materially misstated. If based on the work we have performed weconclude that there is a material misstatement of this other information; we are requiredto report that fact. We have nothing to report in this regard.

Management's Responsibility for the Standalone Financial Statements

6. The Company's Board of Directors is responsible for the matters stated in Section134(5) of the Act with respect to the preparation of these standalone financial statementsthat give a true and fair view of the financial position financial performance and cashflows of the Company in accordance with the accounting principles generally accepted inIndia including the Accounting Standards specified under Section 133 of the Act Thisresponsibility also includes maintenance of adequate accounting records in accordance withthe provisions of the Act for safeguarding of the assets of the Company and for preventingand detecting frauds and other irregularities; selection and application of appropriateaccounting policies; making judgments and estimates that are reasonable and prudent; anddesign implementation and maintenance of adequate internal financial controls that wereoperating effectively for ensuring the accuracy and completeness of the accountingrecords relevant to the preparation and presentation of the financial statements thatgive a true and fair view and are free from material misstatement whether due to fraud orerror.

7. In preparing the financial statements management is responsible for assessing theCompany's ability to continue as a going concern disclosing as applicable mattersrelated to going concern and using the going concern basis of accounting unless managementeither intends to liquidate the Company or to cease operations or has no realisticalternative but to do so. Those Board of Directors are also responsible for overseeing theCompany's financial reporting process.

Auditor's Responsibilities forthe Audit of the Financial Statements

0. Our objectives are to obtain reasonable assurance about whether the financialstatements as a whole are free from material misstatement whether due to fraud or errorand to issue an auditor's report that includes our opinion. Reasonable assurance is a highlevel of assurance but is not a guarantee that an audit is conducted in accordance withSAs will always detect a material misstatement when it exists. Misstatements can arisefrom fraud or error and are considered material if individually or in the aggregate theycould reasonably be expected to influence the economic decisions of users taken on thebasis of these financial statements.

9. As part of an audit in accordance with SAs we exercise professional judgement andmaintain professional scepticism throughout the audit. We also:

- Identify and assess the risks of material misstatements of the financial statementswhether due to fraud or emor design and perform audit procedures responsive to thoserisks and obtain audit evidence that is sufficient and appropriate to provide a basisforouropinion.

- The risk of not detecting a material misstatement resulting from fraud is higher thanfrom one resulting from error as fraud may involve collusion forgery intentionalomissions misrepresentations orthe override of internal control.

- Obtain an understanding of internal control relevant to the audit in order to designaudit procedures that are appropriate in the circumstances. Under section 143(3)(i) of theAct we are also responsible for expressing our opinion on whether the Company hasadequate internal financial controls system in place and the operating effectiveness ofsuch controls.

- Evaluate the appropriateness of accounting policies used and the reasonableness ofaccounting estimates and relate disclosures made by management.

- Conclude on the appropriateness of management's use of going concern basis ofaccounting and based on the audit evidence obtained whether a material uncertaintyexists related to events or conditions that may cast significant doubt on the Company'sability to continue as a going concern. If we conclude that a material uncertainty existswe are required to draw attention in our auditor's report to the related disclosures inthe 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 auditor'sreport. However future events or conditions may cause the Company to cease to continue asa going concern.

- Evaluate the overall presentation structure and content of the financial statementsincluding the disclosures and whether the financial statements represent the underlyingtransactions and events in a manner that achieve fair presentation.

10. We communicate with those charged with governance regarding among other mattersthe planned scope and timing of the audit and significant audit findings including andsignificant deficiencies in the internal control that we identify during our audit.

11. We also provide those charged with governance with a statement that we havecomplied with relevant ethical requirements regarding independence and to communicatewith them all relationships and other matters that may reasonably be thought to bear onour independence and where applicable related safeguards.

12. From the matters communicated with those charged with governance we determinethose matters that were of most significance in the audit of the financial statements ofthe current period and are therefore the key audit matters. We describe these matters inour auditor's report unless law or regulation precludes public disclosure about the matteror when in extremely rare circumstances we determine that a matter should not becommunicated in our report because the adverse consequences of doing so would reasonablybe expected to outweigh the public interest benefits of such communication.

Report on Other Legal and Regulatory Requirements

13. As required by the Companies (Auditor's Report) Order2016 ('the Order1)issued by the Central Government of India in terms of sub section (11) of Section 143 ofthe Act we give in the Annexure A a statement on the matters specified in the paragraphs3 and 4 of the order to the extent applicable.

14. 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 on 31 stMarch 2019 taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2019 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".

(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 contractsforwhich 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 : 28.05.2019 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 2019 we report that;

(i) (a) The Company has maintained proper records showing full particulars including

quantitative 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 no material discrepancies were noticed on suchverification and the title deeds of the immovable properties are held in the name of thecompany.

(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 unsecured loan to parties covered u/s 189 of The Companies Act 2013 Thereforeparagraph 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 guaranteesecurity nor made any investment under the provisions of section 185 and 186 of TheCompanies Act 2013. Accordingly paragraph 3(iv) of the order is not applicable to theCompany.

(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 31st March 2019 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 Companycarried 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 noncashtransactions 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. 017021

Date : 28.05.2019 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.1

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section

143 of the Companies Act 2013 ("the Act")

We have audited the internal financial controls over financial reporting of MACROINTERNATIONAL LTD ("the Company") as of 31st March 2019 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 as required under the CompaniesAct 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 theGuidance 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 31st March 2019 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 ; 28.05.2019

FRN No. 006948C