You are here » Home » Companies » Company Overview » Marg Projects & Infrastructure Ltd

Marg Projects & Infrastructure Ltd.

BSE: 513648 Sector: Infrastructure
NSE: N.A. ISIN Code: INE942E01017
BSE 00:00 | 29 Oct Marg Projects & Infrastructure Ltd
NSE 05:30 | 01 Jan Marg Projects & Infrastructure Ltd
OPEN 11.00
PREVIOUS CLOSE 11.00
VOLUME 549
52-Week high 11.00
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 6
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 11.00
CLOSE 11.00
VOLUME 549
52-Week high 11.00
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 6
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Marg Projects & Infrastructure Ltd. (MARGPROJINF) - Auditors Report

Company auditors report

TO

THE MEMBERS OF

MARG Projects and Infrastructure Limited.

Report on the Financial Statements

We have audited the accompanying financial statements of MARG Projects andInfrastructure Limited ("the Company") which comprise the Balance Sheet as at31st March 2015 the Statement of Profit and Loss the Cash Flow Statementand a summary of the significant accounting policies and other explanatory information forthe year then ended 31st March 2015.

Management's Responsibility for the 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 financial statements that give a true and fair view of the financial positionfinancial performance and cash flows of the Company in accordance with the accountingprinciples generally accepted in India including the Accounting Standards specified underSection 133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014. Thisresponsibility also includes maintenance of adequate accounting records in accordance withthe preparation of the Act for safeguarding 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.

Auditor's Responsibility

Our responsibility is to express an opinion on these financial statements based on ouraudit. 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 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 theauditor considers internal financial control relevant to the Company's preparation of thefinancial statements that give a true and fair view in order to design audit proceduresthat are appropriate in the circumstances but not for the purpose of expressing anopinion on whether the Company has in place an adequate internal financial control systemover financial reporting and the operating effectiveness of such controls. An audit alsoincludes evaluating the appropriateness of the accounting policies used and thereasonableness of the accounting estimates made by the Company's Directors as well asevaluating the overall presentation of the financial statements.

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

Opinion:

In our opinion and to the best of our information and according to the explanationsgiven to us the financial statements give the information required by the Act in themanner so required and give a true and fair view in conformity with the accountingprinciples generally accepted in India:

a) in the case of the Balance Sheet of the state of affairs of the Company as at March31 2015;

b) in the case of the Statement of Profit and Loss of the loss for the year ended 31stMarch 2015 and

c) in the case of the Cash Flow Statement of the cash flows for the year ended 31stMarch 2015.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order 2015 ("the Order")issued by the Central Government of India in terms of sub-section (11) of section 143 ofthe Act we give in the Annexure a statement on the matters specified in paragraphs 3 and4 of the 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 financial statements comply with the AccountingStandards specified under Section 133 of the Act read with Rule 7 of the Companies(Accounts) Rules 2014.

e) On the basis of the written representations received from the directors as on 31stMarch 2015 taken on record by the Board of Directors none of the directors isdisqualified as on 31stMarch 2015 from being appointed as a director in termsof Section 164 (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 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 K RAMKUMAR & Co.
Regn No: 02830S
Place: Chennai Chartered Accountants
Date: 30th May 2015
R M V Balaji
Partner
Membership No.: 027476

ANNEXURE TO THE AUDITORS REPORT REFERRED TO IN OUR REPORT OF EVEN DATE TO THE MEMBERSOF MARG PROJECTS AND INFRASTRUCTURE LIMITEDUNDER THE COMPANIES (AUDITORS' REPORT) ORDER2015 FOR THE YEAR ENDED 31st MARCH 2015.

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

b) According to the information and explanation given to us the fixed assets have beenphysically verified by the management at the end of the financial year. No Materialdiscrepancies were noticed on such verification.

2. The company had no inventory at any point of time and as such physical verificationby the management does not arise.

3. The Company has not given any loans secured or unsecured to companies firms orother parties covered in the register maintained under Section 189 of the Companies Act2013.

4. In our opinion and according to the information and explanation given to us thereare adequate internal control procedures commensurate with the size of the Company and thenature of the business with regard to purchase of fixed assets. During the course of ouraudit we have not observed any continuing failure to correct major weaknesses in internalcontrol system.

5. The Company has not accepted any deposits from public.

6. The Central Government has not prescribed the maintenance of Cost Records undersection 148 (1) of the Companies Act 2013.

7. a) According to the information and explanation given to us and on the basis of ourexamination of the books of accounts the company is irregular in depositing undisputedstatutory dues including Provident Fund Income Tax and otherstatutory dues during theyearwith the appropriate authorities.There were undisputed dues of Service Tax to theextent of Rs.617151 /- as at 31st March 2015 payable for a period of more than sixmonths from the date they become payable.

b) There are no disputed amounts of statutory dues which have not been deposited withthe concerned authorities.

c) According to the information and explanations given to us the company doesn't haveamount required to be transferred to Investor Education and Protection Fund in accordancewith the relevant provisions of the Companies Act 1956 (1 of 1956) and rules made thereunder.

8. The Company has no accumulated losses as at 31st March 2015. It has incurred CashLoss of Rs. 2768399/- during the financial year ended 31.03.2015 and cash loss ofRs.5339788/- in the immediately preceding financial year ended 31st March 2014.

9. The Company has not taken loans from financial institutions/banks or issueddebentures till 31st March 2015. Hence the question of reporting on defaultsin repayment of dues to financial institutions/banks or debentures does not arise.

10. According to the information and explanations given to us the Company has notgiven any guarantees during the year.

11. According to the records of the Company the Company has not obtained term loansduring the year under review. Hence comments under the clause 3 (xi) are not applicable.

12. According to the information and explanation given to us no fraud on or by theCompany has been noticed or reported during the financial year.

For K RAMKUMAR & Co.
Regn No: 02830S
Chartered Accountants
Place: Chennai
Date: 30th May 2015
R M V Balaji
Partner
Membership No.: 027476

.