We have audited the accompanying Ind AS financiai statements of
M/S Pro Fx Tech Limited (Formeriy PRO FX Tech Private Limited) (the
Company) which comprises the Baiance Sheet as at March 31, 2025,
the Statement of Profit and Loss (including other comprehensive
income), statement of changes in equity, statement of cash flows for
the year then ended, and notes to the Ind AS financial statements,
including a summary of significant accounting policies and other
explanatory information.
In our opinion and to the best of our information and according to
the explanations given to us, the aforesaid Ind AS financial
statements, give the information required by the Act in the manner
so required and give a true and fair view in conformity with the
Accounting Standards prescribed under section 133 of the Act read
with the Companies (Accounting Standards) Rules, 2015, as
amended, accounting principles generally accepted in India, ofthe
state of affairs of the Company as at March 31, 2025, and it's Profits,
changes in equity and its cash flows for the year ended on that date.
Basis for Opinion
We have conducted our audit in accordance with the Standards on
Auditing (SAs) specified undersection 143(10) ofthe Companies Act,
2013. Our responsibilities under those Standards are further
described in the Auditor's Responsibilities for the Audit ofthe Ind AS
financial statements section of our report. We are independent of
the Company in accordance with the Code of Ethics issued by the
Institute of Chartered Accountants of India together with the ethical
requirements that are relevant to our audit of the Ind AS financial
statements under the provisions of the Companies Act, 2013 and the
Rules there under, and we have fulfilled our other ethical
responsibilities in accordance with these requirements and the Code
of Ethics. We believe that the audit evidence we have obtained is
sufficient and appropriate to provide a basis for our opinion.
Other Information
The Company's Board of Directors is responsible for the other
information. The other information comprises the information
included in the Annual report but does not include the Ind AS
financial statements and our auditor's report thereon.
Our opinion on the Ind AS financial statements does not cover the
other information and we do not express any form of assurance
conclusion thereon.
In connection with our audit ofthe Ind AS financial statements, our
responsibility is to read the other and, in doing so, consider whether
such other information is materially inconsistent with the Ind AS
financial statements or our knowledge obtained in the audit or
otherwise appears to be materially misstated. If, based on the work
we have performed, we conclude that if there is a material
misstatement of this other information, we are required to report
that fact. We have nothing to report in this regard.
Responsibility of Management for the Ind AS financial
statements
The Company's Board of Directors is responsible for the matters
stated in Section 134(5) ofthe Companies Act, 2013 ("the Act") with
respect to the preparation of these Ind AS financial statements that
give a true and fair view of the financial position, financial
performance, and cashflows ofthe Company in accordance with the
accounting principles generally accepted in India, including the
accounting Standards specified under Section 133 of the Act. This
responsibility also includes maintenance of adequate accounting
records in accordance with the provisions ofthe Act for safeguarding
of the assets of the Company and for preventing and detecting
frauds and other irregularities; selection and application,
appropriate implementation and maintenance of accounting
policies;makingjudgments and estimates that are reasonable and
prudent; and design, implementation and maintenance of adequate
internal financial controls, that were operating effectively for
ensuring the accuracy and completeness ofthe accounting records,
relevant to the preparation and presentation of the financial
statement that give a true and fair view and are free from material
misstatement, whether due to fraud or error.
In preparing the Ind AS financial statements, management is
responsible for assessing the Company's ability to continue as a
going concern, disclosing, as applicable, matters related to going
concern and using the going concern basis of accounting unless
management either intends to liquidate the Company or to cease
operations, or has no realistic alternative but to do so. The Board of
Directors is also responsible for overseeing the company's financial
reporting process.
Auditor's Responsibility for the Audit of the Ind AS financial
statements
Our objectives are to obtain reasonable assurance about whether
the Ind AS financial statements are free from material misstatement,
whether due to fraud or error, and to issue an auditor's report that
includes our opinion. Reasonable assurance is a high level of
assurance but is not a guarantee that an audit conducted in
accordance with SAs will always detect a material misstatement
when it exists. Misstatements can arise from fraud or error and are
considered material if, individually or in the aggregate, they could
reasonably be expected to influence the economic decisions of users
taken based on these Ind AS financial statements.
As part of an audit in accordance with SAs, we exercise professional
judgment and maintain professional skepticism throughout the
audit. We also:
Identify and assess the risks of material misstatement of the Ind AS
financial statements, whether due to fraud or error, design and
perform audit procedures responsive to those risks, and obtain audit
evidence that is sufficient and appropriate to provide a basis for our
opinion. The risk ofnot detecting a material misstatement
resulting from fraud is higher than for one resulting from error, as
fraud may involve collusion, forgery, intentional omissions,
misrepresentations, or the override of internal control.
Obtain an understanding of internai controi reievant to the audit in
order to design audit procedures that are appropriate in the
circumstances. Under Section 143(3)(i) of the Act, we are aiso
responsibie for expressing our opinion on whether the Company has
adequate internai financiai controis system in piace and the
operating effectiveness of such controis.
Evaiuate the appropriateness of accounting poiicies used and the
reasonabieness of accounting estimates and reiated disciosures
made by management.
Conciude on the appropriateness of management's use of the going
concern basis of accounting and, based on the audit evidence
obtained, whether a materiai uncertainty exists reiated to events or
conditions that may cast significant doubt on the Company's ability
to continue as a going concern. If we conclude that a material
uncertainty exists, we are required to draw attention in our auditor's
report to the related disclosures in the Ind AS 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 our auditor's report. However, future events or conditions may
cause the Company to cease to continue as a going concern.
Evaluate the overall presentation, structure, and content of the Ind
AS financial statements, including the disclosures, and whether the
Ind AS financial statements represent the underlying transactions
and events in a manner that achieves fair presentation.
Obtain sufficient appropriate audit evidence regarding the financial
information of the company to express an opinion on the financial
statements. We remain solely responsible for our audit
opinion.Materiality is the magnitude of misstatements in the
standalone financial statements that, individually or in aggregate,
makes it probable that the economic decisions of a reasonably
knowledgeable user of the standalone financial statements may be
influenced. We consider quantitative materiality and qualitative
factors in (i) planning the scope of our audit work and in evaluating
the results of our work; and (ii) to evaluate the effect of any identified
misstatements in the standalone financialstatements.
We communicate with those charged with governance regarding,
among other matters, the planned scope and timing of the audit and
significant audit findings, including any significant deficiencies in
internal control that we identify during our audit.
We also provide those charged with governance with a statement
that we have complied with relevant ethical requirements regarding
independence, and to communicate with them all relationships and
other matters that may reasonably be thought to bear on our
independence, and where applicable, related safeguards.
From the matters communicated with those charged with
governance, we determine those matters that were of most
significance in the audit of the standalone financialstatements of the
current period and are therefore the key audit matters. We describe
these matters in our auditor's report unless law or regulation
precludes public disclosure about the matter or when, in extremely
rare circumstances, we determine that a matter should not be
communicated in our report because the adverse consequences of
doing so would reasonably be expected to outweigh the public
interest benefits of such communication.
Report on other Legal and Regulatory Requirements
1. As required by the Companies (Auditor's Report) Order, 2020
"the order" issued by the Ministry of Corporate Affairs, we
enclose in the Annexure A, a statement on the matters specified
in paragraphs 3 &4 of the said order.
2. Further to our comments in Annexure A referred to in paragraph
1 above and 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 best of 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 the Company so far as appears from our
examination of those books.
c) There are no branches of the Company. Accordingly,
reporting under Section 143(3)(c) of the Companies Act, 2013
in respect of branch audit reports is not applicable.
d) The Balance Sheet, the Statement of Profit and Loss,
statement of changes in equity and Cash Flow Statement
dealt with by this Report are in agreement with the books of
account.
e) In our opinion, the aforesaid Ind AS financial statements
comply with the Accounting Standards specified under
Section 133 of the Act, read with Rule 7 of the Companies
(Accounts) Rules, 2014.
f) We do not have any observation or comment on the financial
statements or matters which have any adverse effect on the
function of the company.
g) On the basis of written representations received from the
Directors, none of the Directors is disqualified as on 31 March
2025, from being appointed as a Director in terms of Section
164(2) of the Act.
h) We do not have any qualification, reservation or adverse
remark relating to the maintenance of accounts and other
matters connected herewith.
i) With respecttotheadequacyoftheinternalfinancialcontrols
over financial reporting of the Company and the operating
effectiveness of such controls, refer to our separate Report in
"Annexure A". Our report expresses an unmodified opinion
on the adequacy and operating effectiveness of the
Company's internal financial controls over financial
reporting.
j) With respect to the other matters to be included in the
Auditor's Report in accordance with the requirements of
section 197(16) of the Act, as amended: In our opinion and to
the best of our information and according to the explanations
given to us, remuneration paid by the Company to its
Directors during the year is in accordance with the provisions
of section 197 oftheAct.
k) With respect to the other matters included in the Auditor's
Report and to our best of information and according to the
explanations given to us:
i. The Company does not have any pending litigations
which would impact its financial position.
ii. The Company does not have any long-term contracts
including derivative contracts for which there were any
material foreseeable losses.
Hi. There were no amounts which were required to be
transferred to the Investor Education and Protection
Fund by the Company.
iv. (a) The Management has represented that, to the best
of its knowledge and belief, no funds (which are
material either individually or in the
aggreg ate) have been advanced or loaned or
invested (either from borrowed funds or share
premium or any other sources or kind of funds) by
the Company to or in any other person or entity,
including foreign entity ("Intermediaries"), with the
understanding, whether recorded in writing or
otherwise, that the Intermediary shall, whether,
directly or indirectly lend or invest in other persons
or entities identified in any manner whatsoever by
or on behalf of the Company ("Ultimate
Beneficiaries") or provide any guarantee, security or
the like on behalf of the Ultimate Beneficiaries;
(b) The Management has represented, that, to the best
of its knowledge and belief, no funds (which are
material either individually or in the aggregate)
have been received by the Company from any
person or entity, including foreign entity ("Funding
Parties"), with the understanding, whether recorded
in writing or otherwise, that the Company shall,
whether, directly or indirectly, lend or invest in other
persons or entities identified in any manner
whatsoever by or on behalf of the Funding Party
("Ultimate Beneficiaries") or provide any guarantee,
security or the like on behalf of the Ultimate
Beneficiaries;
(c) Based on the audit procedures that have been
considered reasonable and appropriate in the
circumstances, nothing has come to my notice that
has caused us to believe that the representations
under sub-clause (1) and (ii) of Rule ll(e), as
provided under (a) and (b) above, contain any
material misstatement.
v. The Company has not declared or paid any dividend
during the year. Accordingly, reporting under Rule H(f) of
the Companies (Audit and Auditors) Rules, 2014 is not
applicable.
vi. Proviso to Rule 3(1) of the Companies (Accounts) Rules,
2014 for maintaining books of account using accounting
software which has a feature of recording audit trail (edit
log) facility is applicable to the Company with effect from
April 1, 2023. Based on our examination which included
test checks, the accounting software used by the
Company has a feature of recording audit trail (edit log)
facility and the same has operated throughout the year
for all relevant transactions recorded in the software.
For MKUK & ASSOCIATES
Chartered Accountants
FRN: (050113S)
0^
Manoj Kumar UKN
Bangalore Partner
31st May, 2025 Membership: (091730)
UDIN : 25091730BMOVXB5990
|