Notes to Accounts of Creative Eye Ltd.

Mar 31, 2024

p) Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a
past event and it is probable that the Company will be required to settle the obligation, and a reliable estimate
can be made of the amount of the obligation. The amount recognised as a provision is the best estimate of the
consideration required to settle the present obligation at the end of the reporting period, taking into account the
risks and uncertainties surrounding the obligation.

Reimbursements by another party, expected in respect of expenditure required to settle a provision, is recognized
when it is virtually certain that reimbursement will be received if obligation is settled.

Contingent Liabilities are not recognised, but are disclosed in the notes to the Financial Statements.

Contingent assets are neither disclosed nor recognized.

Provisions, contingent liabilities and contingent assets are reviewed at each balance sheet date.

30. Lease Obligation:

There are no non-cancellable lease agreements.

31. Arbitration proceeding with National Broadcaster (Doordarshan)

As per the order of Hon''ble arbitrator, the Company had paid an amount of '' 2,00,00,000/- to Prasar Bharti Broadcasting
Corporation of India (PBBCI). And also PBBCI/The Directorate General, Doordarshan had acquired programmes
from the existing library of the company for '' 1,34,78,831/-, representing cost of acquisition of programmes payable,
which had not been paid directly to CEL but had been adjusted / credited / treated as amount received in kind by
PBBCI / The Directorate General, Doordarshan on behalf of Creative Eye Limited. The said amounts are included in
Others Short Term Loans & Advances. Also, Trade Receivable includes ''3,00,000/-, receivable from Prasar Bharati
Broadcasting Corporation of India. The final accounting / financial implication in the respective account shall be
reflected / adjusted at the time of final outcome of the arbitration proceedings.

37. Capital management

The Company''s capital management objectives are:

- to ensure the company''s ability to continue as a going concern

- to provide an adequate return to shareholders by pricing products and services commensurately with the level
of risk.

The Company monitors capital on the basis of the carrying amount of equity less cash and cash equivalents as
presented on the face of the statement of financial position.

Financial Risk Management objectives

The Company''s activities expose it to a variety of financial risks viz. credit risk, liquidity risk and market risk. In order
to manage the aforementioned risks, the Company operates a risk management policy and a program that performs
close monitoring of and responding to each risk factors.

1) Credit risk management

Credit risk arises when a counterparty defaults on its contractual obligations to pay resulting in financial loss to
the Company. The Company deals with creditworthy counterparties as a means of mitigating the risk of financial
loss from defaults. The Company uses publicly available financial information and its own trading records to rate
its major customers. The Company''s exposure and credit ratings of its counterparties are regularly monitored
and the aggregate value of transactions concluded is spread amongst counterparties.

2) Liquidity risk management

The responsibility for liquidity risk management rests with the Board of directors, which has an appropriate
liquidity risk management framework for the management of the Company''s short, medium and long term
funding and liquidity management requirements. The Company manages liquidity risk by maintaining adequate
reserves, banking facilities by regularly monitoring forecast and actual cash flows.

3) Market Risk

Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because
of changes in market prices. Market risk comprises three types of risk: currency risk, interest rate risk and
other price risk such as equity price risk. The objective of market risk management is to manage and control
market risk exposures within acceptable parameters, while optimising the return. The Company is exposed to
equity price risks arising from equity investments. Equity investments are held for strategic rather than trading
purposes. The Company does not actively trade these investments.

42. Monthly Stock and Trade Receivable statement filed with the Bank as a security against Cash Credit Limit/Facility are
in agreement with the books of accounts.

43. With respects to the notification dated 24^th March 2021 of Ministry of Corporate Affairs, New Delhi in exercise of
the powers conferred by sub - section (1) of section 467 of the Companies Act 2013, the central government have
made amendments in schedule III to the said act with effect from 01^st April 2021. The said amendments have been
incorporated in the Financial Statements as and where required, subject to the applicability on the company.

44. No Transaction to report against the following disclosure requirement as notified by MCA pursuant to amended
schedule III:

a) Crypto currency and virtual currency

b) Benami Property held under Prohibition of Benami Transactions Act 1988 and rules made thereunder

c) Registration of charges or Satisfaction with registrar of Companies.

d) Relating to borrowed funds:

i) Willful defaulter

ii) Utilization of borrowed funds and share premium.

iii) Borrowing obtained on the basis of security of current assets

iv) Discrepancy in utilization of borrowings

v) Current maturity of Long-Term Funds.

45. The Company has no transactions with the companies struck off under Companies Act, 2013 or Companies Act,
1956.

46. The Company uses an accounting software for maintaining its books of account which 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.

As per our report of even date attached For and on behalf of the Board

For NGS & Co. LLP Dheeraj Kumar Sunil Gupta Zuby Kochhar

Chartered Accountants Chairman & Executive Director Managing Director and CFO Executive Director

Firm Regn. No. 119850W/W100013 (DIN 00018094) (DIN 00278837) (DIN 00019868)

Ganesh Toshniwal Sarita Soni Matty V. Dutt Vipin Thakur

Partner Non-Executive Director Non-Executive Director Non-Executive Director

M. No. 046669 (DIN 08998686) (DIN 08004073) (DIN 07597681)

Khushbu Shah

Place: Mumbai Company Secretary

Date: 30^th May, 2024 (M. No. A40202)

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Mar 31, 2015

1. Defined benefits plan:

The present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method, which recognises each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation.

As at 31st As at 31st Particulars March 2015 March, 2014

AMOUNT AMOUNT AMOUNT AMOUNT Rs. Rs. Rs. Rs. 2. Contingent Liabilities :

a. Bank Guarantees Outstanding 300,000 300,000

b. Claim against the company not 140,800,000 140,800,000 acknowledged as Debt

The National Broadcaster claimed a sum of Rs. 1408.00 lacs which is under dispute. The arbitration proceedings into the matter is under process. The amount disclosed is the minimum liability on this count excluding interest thereon which is presently not quantifiable

3. Expenditure / Earnings in Foreign Currency :

There is no expenditure and earnings in foreign currency during the year.

4. The following Premises are yet to be transferred in the name of the Company :

6/7 Blue Diamond at Juhu Tara Road, Mumbai

5. Related party disclosure :

Related party disclosure as required by AS - 18 issued by the Institute of Chartered Accountants of India.

a) Relationship :

Key Management Personnel

Mr. Dheeraj Kumar Chairman & Managing Director

Mrs. Zuby Kochhar Executive Director

Other Directors

Mr. Shiv S. Sharma Non Executive Director

Mr. M.R. Sivaraman Non Executive Director

Mr. TK. Choudhary Non Executive Director

6. Arbitration proceeding with National Broadcaster (Doordarshan)

As per the order of Hon'ble arbitrator, the Company had paid an amount of Rs. 2,00,00,000/- to Prasar Bharti Broadcasting Corporation of India (PBBCI). And also PBBCI/The Directorate General, Doordarshan had acquired programmes from the existing library of the company for Rs. 1,34,78,831/-, representing cost of acquisition of programmes payable, which had not been paid directly to CEL but had been adjusted / credited / treated as amount received in kind by PBBCI / The Directorate General, Doordarshan on behalf of Creative Eye Limited. The said amounts are included in Others Short Term Loans & Advances. Also, Trade Receivable includes Rs. 3,00,000/-, receivable from Prasar Bharati Broadcasting Corporation of India. The final accounting / financial implication in the respective account shall be reflected / adjusted at the time of final outcome of the arbitration proceedings.

7. Amounts Written Off/ Written Back: -

During the financial year an amount of Rs. 49,301/- (Previous Year Rs. 28,925/-) has been written off on account of Trade Receivable which became irrecoverable in spite of best efforts for recovery.

An amount of Rs. 2,29,895/- (Previous Year Rs. 6,20,228/-) has been written back as it became no longer payable.

8. Figures of previous year have been regrouped/ reclasified/ rearranged wherever necessary.

9. There is only One Reportable Segment - 'Production of Audio-Visual T. V. Content'. Accordingly no separate segment wise disclosure has been made.

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Mar 31, 2014

1. Contingent Liabilities :

a.Bank Guarantees Outstanding 300,000 300,000

b.Claim against the company not 140,800,000 140,800,000 acknowledged as Debt

2. Arbitration proceeding with National Broadcaster (Doordarshan)

As per the order of Hon’ble arbitrator, the Company had paid an amount of Rs. 2,00,00,000/- to Prasar Bharti Broadcasting Corporation of India (PBBCI). And also PBBCI/The Directorate General, Doordarshan had acquired programmes from the existing library of the company for Rs. 1,34,78,831/-, representing cost of acquisition of programmes payable, which had not been paid directly to CEL but had been adjusted / credited / treated as amount received in kind by PBBCI / The Directorate General, Doordarshan on behalf of Creative Eye Limited. The said amounts are included in Others Short Term Loans & Advances. Also, Trade Receivable includes ` 3,00,000/-, receivable from Prasar Bharati Broadcasting Corporation of India. The final accounting / financial implication in the respective account shall be reflected / adjusted at the time of final outcome of the arbitration proceedings.

3. Amounts Written Off/ Written Back: -

During the financial year an amount of Rs. 28,925/- (Previous Year Rs. 71,03,751/-) has been written off on account of Trade Receivables which became irrecoverable in spite of best efforts for recovery. An amount of Rs.6,20,228/- (Previous Year Rs. 22,80,733/-) has been written back as it became no longer payable.

4. Figures of previous year have been regrouped/ reclasified/ rearranged wherever necessary.

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Mar 31, 2013

As at 31st March 2013 As at 31st March 2012

Particulars Amount Amount Amount Amount Rs. Rs. Rs. Rs.

1. Contingent Liabilities :

a. Bank Guarantees Outstanding 300,000 300,000

b. Claim against the company not 140,800,000 140,800,000 acknowledged as Debt

The National Broadcaster claimed a sum of Rs. 1408.00 lacs which is under dispute. The arbitration proceedings into the matter is under process. The amount disclosed is the minimum liability on this count excluding interest thereon which is presently not quanitifable

2. Expenditure / Earnings in Foreign Currency :

There is no expenditure and earnings in foreign currency during the year.

3. Related party disclosure :

Related party disclosure as required by AS - 18 issued by the Institute of Chartered Accountants of India.

a) Relationship :

Key Management Personnel

Mr. Dheeraj Kumar Chairman & Managing Director

Mrs. Zuby Kochhar Executive Director

Other Directors

Mr. Shiv S. Sharma Non Executive Director

Mr. M.R. Sivaraman Non Executive Director

Mr. T.K. Choudhary Non Executive Director

4. Arbitration proceeding with National Broadcaster (Doordarshan)

As per the order of Hon''ble arbitrator, the Company had paid an amount of Rs. 2,00,00,000/- to Prasar Bharti Broadcasting Corporation of India (PBBCI). And also PBBCI/The Directorate General, Doordarshan had acquired programmes from the existing library of the company for Rs. 1,34,78,831/-, representing cost of acquisition of programmes payable, which had not been paid directly to CEL but had been adjusted / credited / treated as amount received in kind by PBBCI / The Directorate General, Doordarshan on behalf of Creative Eye Limited. The said amounts are included in Others Short Term Loans & Advances. Also, Trade Receivable includes Rs.3,00,000/-, receivable from Prasar Bharati Broadcasting Corporation of India. The fnal accounting/ fnancial implication in the respective account shall be refected/adjusted at the time of fnal outcome of the arbitration proceedings.

5. Amounts Written Off/ Written Back: -

During the fnancial year an amount of Rs.71,03,751/- (Previous Year Rs. 78,87,008/-) has been written off on account of Advances, Loans and Trade Receivables which became irrecoverable in spite of best efforts for recovery.

An amount of Rs.22,80,733/- (Previous Year Rs. 22,39,815/-) has been written back as it became no longer payable.

6. Figures of previous year have been regrouped/ reclasifed/ rearranged wherever necessary.

7. There is only One Reportable Segment - ''Production of Audio-Visual T. V. Content''. Accordingly no separate segmentwise disclosure has been made.

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Mar 31, 2012

1.1. The company has only one class of equity shares having a par value of Rs. 5/- per share. Each holder of equity shares is entitled to one vote per share.

2.1. Vehicle loan availed from Kotak Mahindra Prime Ltd against hypothecation of the vehicle.

2.2. Cash Credit Limit / facility availed from Oriental bank of commerce for working capital purpose against hypothecation of trade receivable and personal guarantee of Managing Director and Executive Director of the company.

3.1. As per information available with the Company, none of the creditors have confirmed that they are registered under the Micro, Small & Medium Enterprises Development Act, 2006. Accordingly, disclosure as required by the said Act is made on that basis.

4.1 As per Accounting Standard 15 "Employee benefits", the disclosures as defined in the Accounting Standard are given below :

Defined benefits plan:

The present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method, which recognises each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation.

The discount rate is based on the prevailing market yields of Indian government securities as at the balance sheet date for the estimated term of the obligations.

The estimates of rate of escalation in salary considered in actuarial valuation, take into account inflation, seniority, promotion and other relevant factors including supply and demand in the employment market. As at 31st March 2012 As at 31st March 2011 Particulars Amount Amount Amount Amount Rs. Rs. Rs. Rs.

5. Contingent Liabilities :

a. Bank Guarantees Outstanding 300,000 300,000

b. Claim against the company not 140,800,000 140,800,000 acknowledged as Debt

The National Broadcaster claimed a sum of Rs. 1408.00 lacs which is under dispute. The arbitration proceedings into the matter is under process. The amount disclosed is the minimum liability on this count excluding interest thereon which is presently not quanitifiable

6. Expenditure / Earnings in Foreign Currency :

There is no expenditure and earnings in foreign currency during the year.

7. Related party disclosure :

Related party disclosure as required by AS - 18 issued by the Institute of Chartered Accountants of India.

a) Relationship :

Key Management Personnel

Mr. Dheeraj Kumar Chairman & Managing Director

Mrs. Zuby Kochhar Executive Director

Other Directors

Mr. Shiv S. Sharma Non Executive Director

Mr. M.R. Sivaraman Non Executive Director

Mr. T.K. Choudhary Non Executive Director

8. Arbitration proceeding with National Broadcaster (Doordarshan)

Others Short Term Loans & Advances includes Rs.3,34,78,831/-, Rs.2,00,00,000/- paid to PBBCI and Rs.1,34,78,831/- towards cost of acquisition of programmes acquired by Prasar Bharti Broadcasting Corporation of India / The Directorate General, Doordarshan, and Trade Receivable includes Rs.3,00,000/-, receivable from Prasar Bharati Broadcasting Corporation of India respectively.

As per the order of Hon'ble arbitrator, the Company will pay an amount of Rs. 2,00,00,000/- to Prasar Bharti Broadcasting Corporation of India (PBBCI). And also PBBCI/The Directorate General, Doordarshan will acquire programmes from the existing library of the company and cost of acquisition of programmes payable, shall not be paid directly to CEL but shall be adjusted / credited / treated as amount received in kind by PBBCI / The Directorate General, Doordarshan on behalf of Creative Eye Limited.

The final accounting / financial implication in the respective account shall be reflected / adjusted at the time of final outcome of the arbitration proceedings.

9. Amounts Written Off/ Written Back: -

During the financial year an amount of Rs.78,87,008/- has been written off as bad debts on account of Advances and Trade Receivables which became irrecoverable in spite of best efforts for recovery.

An amount of Rs.22,39,815/- has been written back as it became no longer payable.

10. Figures of previous year have been regrouped/ reclasified/ rearranged wherever necessary.

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Mar 31, 2010

1. Arbitration proceeding with National Broadcaster (Doordarshan) :

Current Assets, Loans & Advances includes Rs.3,44,50,000/- and Rs.3,00,000/- as Advance and Sundry Debtors respectively, receivable from PrasarBharati Broadcasting Corporation of India. As per the orderof Honble arbitrator, the Company will pay an amount of Rs. 2,00,00,000/- to Prasar Bharti Broadcasting Corporation of India (PBBCI). And also PBBCI/The Directorate General, Doordarshan will acquire programmes from the existing library of the company and cost of acquisition of programmes payable, shail not be paid directly to CEL but shall be adjusted / credited / treated as amount received in kind by PBBCI / The Directorate General, Doordarshan on behalf of Creative Eye Limited. Advance includes Rs.2,00,00,000/- paid to PBBCI and Rs.1,44,50,000/- towards cost of acquisition of programmes acquired by Prasar Bharti Broadcasting Corporation of India /The Directorate General, Doordarshan. The final accounting /financial implication in the respective account shall be reflected / adjusted at the time of final outcome of the arbitration proceedings.

2. Amounts Written Off/ Written Back:

During the financial year an amount of Rs.67,37,460/- has been written off as bad debts on account of Sundry Debtors, Loans & Advances which became irrecoverable in spite of best efforts for recovery. An amount of Rs.33,65,420/- has been written back as it became not payable.

3. The sundry debtors, loans and advances and sundry creditors are subject to confirmation and reconciliation if any.

4. Contingent Liabilities: 31/03/2010 31/03/2009

(Rs. In lacs) (Rs. in lacs)

a. Bank Guarantees Outstanding 3.00 3.00

b. Claim against the company not acknowledged as Debt 1,408.00 1,408.00 The National Broadcaster claimed a sum of Rs. 1408 lacs which is under dispute. The arbitr ation proceedings into the matter is under process.

5. Expenditure / Earnings in Foreign Currency :

There is no expenditure and earnings in foreign currency during the year.

6. Loans and Cash Credit :

a. Cash Credit is secured by way of hypothecation of book debts and personal guarantee of Directors

b. Vehicle Loans from finance companies secured byway of charge on vehicles.

7. The following Premises are yet to be transferred in the name of the Company:

6/7 Blue Diamond at Juhu Tara Road, Mumbai

8. Related party disclosure:

Related party disclosure as required by AS-18 issued by the Institute of Chartered Accountants of India

a) Relationship:

Key Management Personnel

Mr. Dheeraj Kumar Mrs.ZubyKochhar Wg. Cdr. Devendra Dass Kochar

Chairman & Managing Director

Executive Director

Executive Director (upto September 30,2009)

Other Directors

Mr. ShivS.Sharma Mr. M.R. Sivaraman Mr. T.K. Choudhary

Non Executive Director Non Executive Director Non Executive Director

9. Figures of previous year have been regrouped/ reclassified/ rearranged wherever necessary to confirm to current years presentation.