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Oscar Global Ltd.

BSE: 530173 Sector: Others
NSE: N.A. ISIN Code: INE473F01010
BSE 00:00 | 10 Aug 6.75 0
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NSE 05:30 | 01 Jan Oscar Global Ltd
OPEN 6.75
PREVIOUS CLOSE 6.75
VOLUME 54
52-Week high 7.45
52-Week low 3.79
P/E
Mkt Cap.(Rs cr) 2
Buy Price 7.45
Buy Qty 8.00
Sell Price 6.65
Sell Qty 1146.00
OPEN 6.75
CLOSE 6.75
VOLUME 54
52-Week high 7.45
52-Week low 3.79
P/E
Mkt Cap.(Rs cr) 2
Buy Price 7.45
Buy Qty 8.00
Sell Price 6.65
Sell Qty 1146.00

Oscar Global Ltd. (OSCARGLOBAL) - Auditors Report

Company auditors report

TO THE MEMBERS OF OSCAR GLOBAL LIMITED NEW DELHI

Report on the Standalone Financial Statements

Opinion

We have audited the accompanying standalone Ind AS financial statements of OSCARGLOBAL LIMITED ("the Company") which comprise the balance sheet as at 31stMarch 2019 and the statement of Profit and Loss statement of changes in equity andstatement of cash flows for the year then ended and notes to the financial statementsincluding a summary of significant accounting policies and other explanatory information.

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 affairs of the Company as at March 31 2019 the loss and totalcomprehensive income changes in equity and its cash flows for the year ended on thatdate. (Basis for Opinion we conducted our audit of the standalone financial statements inaccordance with the Standards).

Basis for Opinion

We conducted our audit of the standalone financial statements in accordance with theStandards on Auditing (SAs) specified under section 143(10) of the Companies Act 2013.Our responsibilities under those Standards are further described in the Auditor'sResponsibilities for the Audit of the Financial Statements section of our report. We areindependent of the Company in accordance with the Code of Ethics issued by the Instituteof Chartered Accountants of India together with the independence requirements that arerelevant to our audit of the standalone financial statements under the provisions of theCompanies Act 2013 and the Rules there under and we have fulfilled our other ethicalresponsibilities in accordance with these requirements and the ICAI's Code of Ethics. Webelieve that the audit evidence we have obtained is sufficient and appropriate to providea basis for our audit opinion on the standalone Financial Statements.

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 (changes in equity) and cash flows of the Company withthe Ind AS and other accounting principles generally accepted in India. The respectiveBoard of Directors of the company are responsible for maintenance of adequate accountingrecords in accordance with the provisions of the Act for safeguarding of the assets of theCompany and for preventing and detecting frauds and other irregularities; selection andapplication of appropriate accounting policies; making judgments and estimates that arereasonable and prudent; and design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevant to the preparation and presentation ofthe financial statement that give a true and fair view and are free from materialmisstatement whether due to fraud or error.

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.

The respective Board of Directors are also responsible for overseeing the Company'sfinancial reporting process

Auditor's Responsibilities for the Audit of the Standalone Financial Statements

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 conducted in accordance with SAswill always detect a material misstatement when it exists. Misstatements can arise fromfraud 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 standalone financial statements.

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

• Identify and assess the risks of material misstatement of the 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 control relevant to the audit in order todesign audit procedures that are appropriate in the circumstances. Linder section143(3)(i) of the Companies Act 2013 we are also responsible for expressing our opinionon whether the company has adequate internal financial controls system in place and theoperating effectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and the reasonablenessof accounting estimates and related disclosures made by management.

• Conclude on the appropriateness of management's use of the going concern basisof accounting 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 standalone financial statements or if such disclosures are inadequate to modify ouropinion. Our conclusions are based on the audit evidence obtained up to the date of ourauditor's report. However future events or conditions may cause the Company to cease tocontinue as a going concern.

• Evaluate the overall presentation structure and content of the financialstatements including the disclosures and whether the financial statements represent theunderlying transactions and events in a manner that achieves fair presentation.

• Obtain sufficient appropriate audit evidence regarding the financial informationof the entities or business activities within the Group to express an opinion on thestandalone financial statements. We are responsible for the direction supervision andperformance of the audit of the financial statements of such entities included in thestandalone financial statements.

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 financial statements may be influenced. We considerquantitative materiality and qualitative factors in (i) planning the scope of our auditwork and in evaluating the results of our work; and (ii) to evaluate the effect of anyidentified misstatements 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 deficiencies in internal control that we identify 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 financial statements of thecurrent period and are therefore the key audit matters. We describe these matters in ourauditor's report unless law or regulation precludes public disclosure about the matter orwhen 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

1. 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 of the aforesaidstandalone financial statement.

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 Ind Asspecified 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 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 In our opinionthe Company has in all material respects an adequate internal financial controls systemover financial reporting and such internal financial controls were operating effectivelyas at 31 st March 2019 based on the internal control over financial reporting criteriaestablished by the Company considering the essential components of internal control statedin the Guidance Note issued by the Institute of Chartered Accountants of India refer toour separate 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 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.

2. As required by the Companies (Auditor's Report) Order 2016 ("the Order")issued by the Central Government in terms of Section 143(11) of the Act we give in"Annexure A" a statement on the matters specified in paragraphs 3 and 4 of theOrder.

For DUBEY & Co.
Chartered Accountants
Sd/-
DEEPAK DUBEY
Proprietor
PLACE:NEW DELHI Membership No.: 086349
DATE: 28th May 2019 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 2019. 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) Not Applicable

(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 (I) 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 and any 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 2019 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

According to the information and explanation given to us and on the basis of ourexamination of the records the Company does not have any loans or borrowings from anyfinancial institution banks Government or debenture holders during the year.Accordingly paragraph 3 (viii) of the Order is not applicable.

(ix) Utilisation of IPO and further Public Offer

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.

In our opinion and according to the information and explanations given to us theCompany is not a Nidhi Company. Accordingly paragraph 3(xii) of the Order is notapplicable.

(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) Private Placement or Preferential Issues

The company has not made any preferential allotment or private placement of shares orfully or partly convertible debentures during the year under review thus the requirementof section 42 of the Companies Act 2013 need not to be complied with. Accordingly theprovisions of clauses 14 of the Order are not applicable.

(xv) Non Cash Transactions

The company has not entered into any non-cash transactions with directors or personsconnected with him as per the provisions of section 192 of the Act. Accordingly theprovisions of clauses 15 of the Order are not applicable.

(xvi) Requirement of Registration under 45-IA of Reserve Bank of India Act 1934

The company is not required to be registered under section 45-IA of the Reserve Bank ofIndia Act 1934.

For DUBEY & Co.
Chartered Accountants
Sd/-
DEEPAK DUBEY
Proprietor
PLACE:NEW DELHI Membership No.: 086349
DATE: 28th May 2019 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 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 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. 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 system overfinancial 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 ofrecords that in reasonable detail accurately and fairly reflect the transactions anddispositions of the assets of the company; (2) provide reasonable assurance thattransactions are recorded as necessary to permit preparation of financial statements inaccordance with generally accepted accounting principles and that receipts andexpenditures 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 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 DUBEY & Co.
Chartered Accountants
Sd /-
DEEPAK DUBEY
Proprietor
PLACE:NEW DELHI Membership No.: 086349
DATE: 28th May 2019 FRN : 07515N