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Media Matrix Worldwide Ltd.

BSE: 512267 Sector: Media
NSE: MMWL ISIN Code: INE200D01020
BSE 00:00 | 30 Jun 8.65 0.13
(1.53%)
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8.50

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8.90

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8.50

NSE 05:30 | 01 Jan Media Matrix Worldwide Ltd
OPEN 8.50
PREVIOUS CLOSE 8.52
VOLUME 14350
52-Week high 20.13
52-Week low 5.36
P/E
Mkt Cap.(Rs cr) 980
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 8.50
CLOSE 8.52
VOLUME 14350
52-Week high 20.13
52-Week low 5.36
P/E
Mkt Cap.(Rs cr) 980
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Media Matrix Worldwide Ltd. (MMWL) - Auditors Report

Company auditors report

To the Members of

Media Matrix Worldwide Limited

Report on the Audit of the Standalone Financial Statements

1. Opinion

We have audited the accompanying standalone financial statements of MEDIA MATRIXWORLDWIDE LIMITED

("the Company") which comprise the Balance Sheet as at March 31 2021 theStatement of Profit Other Comprehensive Income) the Statement of Changes in Equity andthe Statement of Cash Flows for the year then ended and notes to the standalone financialand other explanatory information (hereinafter referred to as the "standalonefinancial statements")

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 Indian Accounting Standards prescribed under section133 of the Act read with the Companies (Indian Accounting Standards) Rules 2015 asamended ("Ind AS") and other accounting principles generally accepted in Indiaof the state of affairsof the Company as at March 31 2021 and its profit (includingother comprehensive income) changes in equity and its cash flows for the year ended onthat date.

2. Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing ("SA"s)specified under section 143(10) of the Act. Our responsibilities under those Standards arefurther described in the Auditor’s Responsibilities for the Audit of the standalonefinancial statements section of our report. We are independent of the Company inaccordance with the Code of Ethics issued by the Institute of Chartered Accountants ofIndia ("ICAI") together with the ethical requirements that are relevant to ouraudit of the financial statements under the provisions of the Act and the Rules madethereunder and we have fulfilled our other ethical responsibilities in accordance withthese requirements and the ICAI’s Code of Ethics. We believe that the audit evidenceobtained by us is a basis for our audit opinion on the standalone financial statements.

3. Key Audit Matters

Key audit matters are those matters that in our professional judgment were of mostsignificance in our audit of the standalone financial statements of the financial yearended March 31 2021. These matters were addressed in the context of our audit of thestandalone financial statements as a whole not provide a separate opinion on thesematters. We have determined that there is no key audit matter to communicate in ourreport.

4. Information Other than the Standalone Financial Statements and Auditor’sReport Thereon

The Company’s Board of Directors is responsible for the other information. Theother information comprises the information included in the Management Discussion andAnalysis Board’s Report including Annexures to Board’s Report BusinessResponsibility Report and Shareholder’s Information but does not include thestandalone financial statements and our auditor’s report thereon.

Our opinion on the standalone financial statements does not cover the other informationand we do not express any form of assurance conclusion thereon.

In connection with our audit of the standalone financial statements our responsibilityis to read the other information and in doing so consider whether the other informationis materially inconsistent with the standalone financial statements or our knowledgeobtained during the course of our audit or otherwise appears to be materially misstated.If based on the work we have performed we conclude that there is a material misstatementof this other information we are required to report that fact. We have nothing to reportin this regard.

5. 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 Act with respect to the preparation of these standalone financial statementsthat give a true and fair view of the financial position financial performance totalcomprehensive income changes in equity and cash flows of the Company in accordance withthe Ind AS and other accounting principles generally accepted in India. Thisresponsibility also includes maintenance of adequate accounting records in accordance withthe provisions 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 Standalone financialstatements that give a true and fair view and are free from material misstatement whetherdue to fraud or error.

In preparing the standalone financial statements management is responsible forassessing the Company’s ability to continue as a going concern disclosing asapplicable matters related to going concern and using the going concern basis ofaccounting unless management either intends to liquidate the Company or to ceaseoperations or has no realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the Company’s financialreporting process.

6. Auditor’s Responsibilities for the Audit of the Standalone FinancialStatements

Our objectives are to obtain reasonable assurance about whether the standalonefinancial statements as a whole are free from material misstatement whether due to fraudor error and to issue an auditor’s report that includes our opinion. Reasonableassurance is a high level of assurance but is not a guarantee that an audit conducted inaccordance with SAs will always detect a material misstatement when it exists.Misstatements can arise from fraud or error and are considered material if individuallyor in the aggregate they could reasonably be expected to influence the economic decisionsof users taken on the basis of these standalone financial statements.

As part of an audit in accordance with SAs we exercise professional judgment andmaintain professional skepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the standalone financialstatements whether due to fraud or error design and perform audit procedures responsiveto those risks and obtain audit evidence that is sufficient and appropriate to provide abasis for our opinion. The risk of not detecting a material misstatement resulting fromfraud is higher than for one resulting from error as fraud may involve collusionforgery intentional omissions misrepresentations or the override of internal control.

Obtain an understanding of internal financial controls relevant to the audit in orderto design audit procedures that are appropriate in the circumstances. Under section143(3)(i) of the Act we are also responsible for expressing our opinion on whether theCompany has adequate internal financial controls system in place and the operatingeffectiveness of such controls.

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

Conclude on the appropriateness of management’s use of the going concern basis ofaccounting and based on the audit evidence obtained whether a material uncertaintyexists related to events or conditions that may to continue as a cast significant goingconcern. If we conclude that a material uncertainty exists we are required to drawattention in our auditor’s report to the related disclosures in the standalonefinancial statements or if such disclosures are are based on the audit evidence obtainedup to the date of our auditor’s report. However future events or conditions maycause the Company to cease to continue as a going concern.

Evaluate the overall presentation structure and content of the standalone financialdisclosures and whether the standalone financial statements represent the underlyingtransactions and events in a manner that achieves fair presentation.

Materiality is the magnitude of misstatements in the standalone financial statementsthat individually or in aggregate makes it probable that the economic decisions of areasonably knowledgeable user of the standalone financial materiality and qualitativefactors in

(i) planning the scope statements may be influenced. of our audit work and inevaluating the results effect of any identified misstatements our work; and

(ii) evaluate the in the financial statements

We communicate with those charged with governance regarding among other matters theplanned scope and timing of the audit and significant audit findings including anysignificant during our audit.

We also provide those charged with governance with a statement that we have compliedwith relevant ethical requirements regarding independence and to communicate with themall relationships and other matters that may reasonably be thought to bear on ourindependence and where applicable related safeguards.

From the matters communicated with those charged with governance we determine thosematters that were of most significance in the audit of the standalone financial statementsof the current period and are therefore the key audit matters. We describe these mattersin our auditor’s report unless law or regulation precludes public disclosure aboutthe matter or when in extremely rare circumstances we determine that a matter should notbe communicated in our report because the adverse consequences of doing so wouldreasonably be expected to outweigh the public interest benefits of such communication.

7. Report on Other Legal and Regulatory Requirements

A. 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 Companies Act 2013 we give in the "Annexure-A" a statementon the matters specified in paragraphs 3 and 4 of the Order to the extent applicable.

B. As required by the Non-Banking Financial Companies Auditor’s Report (ReserveBank) Directions 2016 dated 29th September 2016 we give a separate report"Auditors’ Report on NBFC" for matter specified in said Direction.

C. As required by Section 143(3) of the Act we report that:

i. 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;

ii. 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;

iii. The Balance Sheet the Statement of Profit and Loss (including Other ComprehensiveIncome) Statement of Changes in Equity and the Statement of Cash Flow dealt with by thisReport are in agreement with the books of account;

iv. In our opinion the aforesaid standalone financial statements comply with theAccounting Standards specified under Section 133 of the Act read with relevant rulesissued thereunder;

v. On the basis of the written representations received from the directors as on March31 2021 taken on record by the Board of Directors none of the directors is disqualifiedas on March 31 2021 from being appointed as a director in terms of Section 164 (2) of theAct;

vi. 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" to this report;

vii. With respect to the other matters to be included in the Auditor’s Report inaccordance with the requirements of section 197(16) of the Act as amended: In our opinionand to the best of our information and according to the explanation given to us theremuneration paid / provided by the Company to its directors during the year is inaccordance with the provisions of section 197 read with Schedule V of the Act;

viii. 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 as amended inour opinion and to the best of our information and according to the explanations given tous:

a) The Company has disclosed the impact if any of pending litigations on itsfinancial position in its standalone financial statements-Refer Note 29 to the standalonefinancial statements;

b) The Company did not have any long-term contracts including derivative contracts forwhich there were any material foreseeable losses;

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

For KHANDELWAL JAIN & Co.
Chartered Accountants
Firm Registration No: 105049W
Naveen Jain
(Partner)
Place: Gurugram Membership No. 511596
Date: June 22 2021 UDIN: 21511596AAAAAR1684

ANNEXURE "A" TO THE INDEPENDENT AUDITORS’ REPORT

Annexure referred to in paragraph 7 (A) of the Independent Auditors’ Report ofeven date to the members of Media Matrix Worldwide Limited on the standalonefinancial statements for the year ended March 31 2021 we report that;

I. (a) The Company has maintained proper records showing full particulars includingquantitative details and situations of its Fixed Assets.

(b) Fixed assets have been physically verified by the management during the year as pera regular program of verification which in our opinion is reasonable having regard tothe size of the Company and the nature of its assets and as informed no materialdiscrepancies were noticed on such verification.

(c) According to the information and explanation given by the management there are noimmovable properties owned by the Company and accordingly the requirements underparagraph 3(i)(c) of the Order are not applicable to the Company. In respect of immovableproperties of land and building that have been taken on lease and disclosed as Right ofuse assets in the standalone financial statements the lease agreements are in the name ofthe Company.

II. According to the information and explanation given by the management theCompany’s business did not involve holding of inventory. Accordingly requirementsunder paragraph 3(ii) of the Order are not applicable to the Company.

III. According to information and explanations given to us the Company has grantedunsecured loans to a company covered in the register maintained under Section 189 of theAct. The Company has not granted any secured / unsecured loans to firms LLPs or otherparties covered in the register maintained under Section 189 of theAct.

(a) The Company has granted unsecured loan to Company covered in the registermaintained under Section 189 of the Companies Act 2013.

(b) In our opinion and considering the explanation given to us receipt of theprincipal amount and interest is regular.

(c) In respect of above said loan there is no overdue amount as at year end.

IV. In our opinion and according to the information and explanations given to us theCompany has in respect of loans investments guarantees and security where applicablecomplied with the provisions of section 185 and 186 of the Companies Act 2013 whereverapplicable.

V. According to the information and explanation given to us the Company has notaccepted any deposits within the meaning of the provisions of Sections 73 to 76 or anyother relevant provisions of the Companies Act 2013 and the rules framed there under.Accordingly paragraph 3(v) of the Order is not applicable to the Company.

VI. According to the information and explanations given to us the Central Governmenthas not prescribed the maintenance of cost records under section 148 (1) of the CompaniesAct 2013 for the products of the Company.

VII. (a) According to the information and explanations given to us and records examinedby us the Company is generally regular in depositing with the appropriate authoritiesundisputed statutory dues including provident fund employees’ state insuranceincome-tax goods and service tax cess and other material statutory dues whereverapplicable. According to information and explanation given to us and as per the recordsexamined by us no undisputed arrears of statutory dues outstanding as at March 31 2021for a period of more than six months from the date they became payable.

(b) According to the information and explanation given to us and records examined byus there are no dues of income tax goods and service tax custom duty & cess or anyother statutory dues which have not been deposited on account of any dispute.

VIII. According to the information and explanations given to us and records examined byus as at the Balance Sheet date the Company has not defaulted in repayment of dues tofinancial institution or banks or debenture holders.

IX. Based on our examinations of the records and information given to us no money wasraised by way of initial public offer or further public offer (including debt instruments)and no term loan has been taken during the year by the Company.

X. To the best of our knowledge and belief and according to the information andexplanations given to us no fraud on or by the Company has been noticed or reportedduring the course of our audit.

XI. According to the information and explanation given to us and the books of accountsverified by us the Managerial remuneration has been paid or provided in accordance withthe requisite approvals mandated by the provisions of section 197 where applicable readwith the Schedule V to the Companies Act.

XII. In our opinion the Company is not a Nidhi Company. Accordingly paragraphs 3(xii)of the order is not applicable.

XIII. According to the information and explanations given to us and based on ourexamination of the records of the Company transactions with the related parties are incompliance with Sections 177 and 188 of Companies Act 2013 where applicable and detailsof such transactions have been disclosed in the standalone financial statements asrequired by the applicable accounting standards.

XIV. According to information and explanations given to us the Company has not madeany preferential allotment as private placement of shares or fully or partly convertibledebentures during the year. Accordingly paragraph 3(xiv) is not applicable to theCompany.

XV. According to the information and explanation given to us and based on ourexamination of the records of the Company the Company has not entered into any non-cashtransaction with directors or persons connected to its directors as referred to in section192 of Companies Act 2013. Accordingly paragraph 3(xv) of the Order is not applicable tothe Company.

XVI. The Company is not required to be registered under section 45-IA of the ReserveBank of India Act 1934. Accordingly paragraph 3(xvi) of the Order is not applicable tothe Company.

For KHANDELWAL JAIN & Co.
Chartered Accountants
Firm Registration No: 105049W
Naveen Jain
(Partner)
Place: Gurugram Membership No. 511596
Date: June 22 2021 UDIN: 21511596AAAAAR1684

ANNEXURE "B" TO THE INDEPENDENT AUDITOR’S REPORT

Report on the Internal Financial Controls Over Financial Reporting under Clause (i) ofSub-section 3 of Section 143 of the Companies Act 2013 ("the Act")

To the Members of

MEDIA MATRIX WORLDWIDE LIMITED

We have audited the internal financial controls over financial reporting of MediaMatrix Worldwide Limited ("the Company") as of March 31 2021 in conjunctionwith our audit of the standalone financial statements of the Company for the year ended onthat date.

Management’s Responsibility for Internal Financial Controls

The Company’s management is responsible for establishing and maintaining internalfinancial controls based on the reporting criteria established by the company consideringthe essential components of internal control over financial internal control stated in theguidance note on Audit of Internal financial controls over Financial Reporting issued bythe Institute of Chartered Accountants of India (‘ICAI’). These responsibilitiesinclude the design implementation and maintenance of adequate internal financialeffectively for ensuring the orderly and efficient controls that were operating conduct ofits business including adherence to the Company’s policies the safeguarding of itsassets the prevention and detection of frauds and errors the accuracy and completenessof the accounting records and the timely preparation of reliable financial informationas required under the Act.

Auditor’s Responsibility

Our responsibility is to express an opinion on the Company’s internal financialcontrols over financial reporting with audit. We conducted reference to the standalonefinancial our audit in accordance with the Guidance Note on audit of Internal FinancialControls over Financial Reporting ("the Guidance Note") issued by the Instituteof Chartered Accountants of India ("ICAI") and the Standards on Auditing asspecified under Section 143 (10) of the the extent applicable to an audit of internalfinancial controls. Those standards and the Guidance Note require that we comply withethical requirements and plan and perform the audit to obtain reasonable assurance aboutwhether adequate internal financial controls over financial reporting were 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 reporting included obtainingan understanding of internal financial controls over financial reporting assessing therisk that a material weakness exists and testing and evaluating the design and operatingeffectiveness of internal control based on the assessed risk. The procedures selecteddepend on the auditor’s judgment including the assessment of the risks of materialmisstatement of the standalone 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 overfinancial reporting with reference to the standalone financial

Meaning of Internal Financial Controls Over Financial Reporting

A company’s internal financial control over financial reporting with reference tothe standalone financial statements is a process designed to provide reasonable assuranceregarding the reliability of financial reporting and the preparation of financialstatements for external purposes in accordance with generally accepted accountingprinciples. A company’s internal financial control over financial reporting includesthose policies and procedures that

(1) pertain to the maintenance of records in reasonable detail accurately and fairlyreflect assets of the company;

(2) provide reasonable assurance that transactions are recorded as necessary to permitpreparation of financial statements in accordance with the 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;

(3) provide reasonable assurance regarding prevention or timely detection ofunauthorised acquisition use or disposition of the company’s assets that could havea 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 with reference to the standalone financial statements including the possibilityof collusion or improper management override of controls material misstatements due toerror or fraud may occur and not be detected. Also projections of any evaluation of theinternal financial controls over financial reporting with reference to the standalonefinancial statements to future periods are subject to the risk that the internal financialcontrol over financial reporting with reference to the standalone financial statements maybecome inadequate because of changes in conditions or that the degree of compliance withthe policies or procedures may deteriorate.

Opinion

In our opinion to the best of our information and according to the explanations givento us the Company has in all material respects an adequate internal financial controlsover financial reporting with reference to standalone financial statements and suchinternal financial controls over financial reporting with reference to these standalonefinancial statements were criteria for internal control over financial reportingestablished by operating effectively the Company considering the essential components ofinternal controls stated in the Guidance Note issued by ICAI.

For KHANDELWAL JAIN & Co.
Chartered Accountants
Firm Registration No: 105049W
Naveen Jain
(Partner)
Place: Gurugram Membership No. 511596
Date: June 22 2021 UDIN: 21511596AAAAAR1684

AUDITOR’S REPORT ON NBFC

To

The Board of Directors

Media Matrix Worldwide Limited

Gurugram

We have audited the accounts of Media Matrix Worldwide limited (‘theCompany’) for the year ended March 31 2021. As required by the Non-Banking FinancialCompanies Auditor’s Report (Reserve Bank) Directions 2016 issued by the Reserve Bankof India on the matters specified in Chapter - II of the said Directions to the extentapplicable to the Company we give below our report on the matters specified in theabove-mentioned directions and state that:

1. The Company has obtained a Certification of Registration (CoR) (No. 13.01287) on the13th August 1999 from the Reserve Bank of India. However as referred in Note No. 1(C) ofStandalone Financial Statement of the Company for the year ended March 31 2021 theCompany has filed an application with the Reserve Bank of India (RBI) for de-registrationas a NBFC on 13th September 2011. However as per the extant guidelines of RBI thecompany shall continue as NBFC till time it reduces its strategic investments below 50% oftotal assets to qualify for deregistration and would continue to do compliance of NBFC asapplicable.

2. The Company is entitled to continue to hold such CoR in terms of its principalbusiness criteria of financial assets being fulfilled as on March 31 2021.

3. The Company is meeting the requirement of net owned funds applicable to Company ascontained in Master Direction- Non-Banking Financial Company - Non-Systemically ImportantNon-Deposit taking Company (Reserve Bank) Directions 2016.

4. The Board of Directors had passed a resolution for non-acceptance of any publicdeposit in their meeting held on Sept 5 2020

5. In our opinion and to the best of our information and according to the explanationsgiven to us the Company has not accepted any public deposits during the financial year2020-21.

6. The Company has complied with the prudential norms to Income recognition accountingstandards assets classification and provisioning for bad and doubtful debts asapplicable to it.

7. In our opinion and to the best of our information and according to the explanationgiven to us para (iv) and para (v) of paragraph 3(C) of chapter-II of the said Directionsare not applicable to the Company.

For KHANDELWAL JAIN & Co
Chartered Accountants
Firm’s Registration No.105049W
Naveen Jain
(Partner)
Place: Gurugram Membership No. 511596
Date: June 22 2021 UDIN: 21511596AAAAAR1684

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