Accounting Policies of Nouveau Global Ventures Ltd. Company

Mar 31, 2024

a) Company Overview

Nouveau Global Ventures Limited (“the Company”) is engaged primarily in the business of trading
in film & serial rights, Swimming pool related items, dealing in Shares & Securities and
Management Consultancy and related other activities. The Company is a Public Limited Company
incorporated and domiciled in India having its registered office at 401/A, Pearl Arcade, Opp. P. K.
Jewellers, Dawood Baugh Lane, Off. J. P. Road, Andheri (West), Mumbai - 400 058. The Company
is listed on BSE Limited (BSE).

b) Basis of Accounting

The Financial Statements of the Company have been prepared in accordance with the Indian
Accounting Standards (Ind AS) to comply with the Section 133 of the Companies Act, 2013 (“the
2013 Act”), and the relevant provisions, rules and amendments, as applicable. The Financial
Statements have been prepared on accrual basis under the historical cost convention except
certain assets measured at fair value.

c) Functional and Presentation Currency

These financial statements are presented in Indian rupees, which is the functional currency of the
Company. All financial information presented in Indian rupees has been rounded to the nearest
rupees as per the requirement of Schedule III, unless otherwise stated.

d) Use of Estimates and Judgements

The preparation of financial statements in conformity with Ind AS requires management to make
estimates and assumptions considered in the reported amounts of assets and liabilities (including
contingent liabilities) and the reported revenue and expenses during the year. The Management
believes that the estimates used in preparation of the Financial Statements are prudent and
reasonable. Significant estimates used by the management in the preparation of these financial
statements include project revenue, project cost, saleable area, economic useful lives of fixed
assets, accrual of allowance for bad and doubtful receivables, loans and advances and current and
deferred taxes. Differences between the actual results and the estimates are recognised in the
periods in which the results are known / materialise.

e) Property, Plant and Equipment & Depreciation

i. Recognition and measurement

Items of property, plant and equipment are measured at cost less accumulated depreciation
and impairment losses, if any. The cost of an item of property, plant and equipment
comprises:

- its purchase price, including import duties and non-refundable purchase taxes, after
deducting trade discounts and rebates.

- any costs directly attributable to bringing the asset to the location and condition
necessary for it to be capable of operating in the manner intended by management.

If significant parts of an item of property, plant and equipment have different useful lives,
then they are accounted for as separate items (major components) of property, plant and
equipment.

Property, plant and equipment are derecognised from financial statement, either on
disposal or when no economic benefits are expected from its use or disposal. The gain or
loss arising from disposal of property, plant and equipment are determined by comparing
the proceeds from disposal with the carrying amount of Property, plant and equipment
recognised in the statement of profit and loss account in the year of occurrence.

ii. Subsequent expenditure

Subsequent costs are included in the asset’s carrying amount or recognised as a separate
asset, as appropriate, only when it is probable that future economic benefits associated
with the item will flow to the Company and the cost of the item can be measured reliably.
The carrying amount of any component accounted for as a separate asset is derecognised
when replaced. All other repairs and maintenance are charged to profit or loss during the
reporting year in which they are incurred.

iii. Depreciation

Depreciation is being provided on “Straight Line Method” method on the basis of systematic
allocation of the depreciable amount of the assets over its useful life as stated in Schedule II
of the Companies Act, 2013.

Depreciation on assets sold, discarded or scrapped, is provided up to the date on which the
said asset is sold, discarded or scrapped.

In respect of an asset for which impairment loss is recognized, depreciation is provided on
the revised carrying amount of the assets.

f) Intangible Assets -Recognition and measurement

Items of Intangible Assets are measured at cost less accumulated amortisation and impairment
losses, if any. The cost of intangible assets comprises:

- its purchase price, including import duties and non-refundable purchase taxes, after deducting
trade discounts and rebates; and

- any costs directly attributable to bringing the asset to the location and condition necessary for it
to be capable of operating in the manner intended by management.

i. Subsequent expenditure

Subsequent expenditure is capitalised only if it is probable that the future economic benefits
associated with the expenditure will flow to the Company.

ii. Amortisation

Intangible assets are amortised over their estimated useful life on Straight Line Method.

g) Impairment of Assets

Intangible assets that have an indefinite useful life are not subject to amortisation and are tested
annually for impairment, or more frequently if events or changes in circumstances indicate that
they might be impaired. Other assets are tested for impairment whenever events or changes in
circumstances indicate that the carrying amount may not be recoverable. An impairment loss is
recognised for the amount by which the asset’s carrying amount exceeds its recoverable amount.
The recoverable amount is the higher of an asset’s fair value less costs of disposal and value in
use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which
there are separately identifiable cash inflows which are largely independent of the cash inflows
from other assets or groups of assets (cash-generating units). Non-financial assets that suffered an

impairment are reviewed for possible reversal of the impairment at the end of each reporting
period.

h) Investments

Long term investments are stated at cost. However, provision for diminution is made to recognise
any decline, other than temporary, in the value of long term investments.

Current investments are stated at the fair value.

i) Measurement at fair values

The Company measures financial instruments at fair value at each balance sheet date.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an
orderly transaction between market participants at the measurement date. The fair value
measurement is based on the presumption that the transaction to sell the asset or transfer the
liability takes place either:

- In the principal market for the asset or liability or

- In the absence of a principal market, in the most advantageous market for the asset or liability

A fair value measurement of a non-financial asset takes into account a market participant’s ability
to generate economic benefits by using the asset in its highest and best use or by selling it to
another market participant that would use the asset in its highest and best use.

The Company uses valuation techniques that are appropriate in the circumstances and for which
sufficient data are available to measure fair value, maximizing the use of relevant observable
inputs and minimizing the use of unobservable inputs.

All assets and liabilities for which fair value is measured or disclosed in the financial statements
are categorized within the fair value hierarchy, described as follows, based on the lowest level input
that is significant to the fair value measurement as a whole:

Level 1: Quoted (unadjusted) market prices in active markets for identical assets or liabilities

Level 2: Valuation techniques for which the lowest level input that is significant to the fair value
measurement is directly or indirectly observable

Level 3: Valuation techniques for which the lowest level input that is significant to the fair value
measurement is unobservable

For the purpose of fair value disclosures, the Company has determined classes of assets &
liabilities on the basis of the nature, characteristics and the risks of the asset or liability and the
level of the fair value hierarchy as explained above.

The Company recognises transfers between levels of the fair value hierarchy at the end of the
reporting period during which the change has occurred.

j) Financial Instrument

A financial instrument is any contract that gives rise to a financial asset of one entity and a
financial liability or equity instrument of another entity.

Financial assets include Trade receivable, loan to body corporate, loan to employees, security
deposits, Investments and other eligible current and non-current assets.

Financial liabilities include Loans, trade payable and eligible current and non-current liabilities.

Offsetting financial instruments - Financial assets and liabilities are offset and the net amount is
reported in the balance sheet where there is a legally enforceable right to offset the recognised
amounts and there is an intention to settle on a net basis or realise the asset and settle the liability
simultaneously. The legally enforceable right must not be contingent on future events and must be
enforceable in the normal course of business and in the event of default, insolvency or bankruptcy
of the group or the counterparty.

k) Inventories

i. The cost of inventories comprises all cost of purchase, cost of conversion and other costs
incurred in bringing the inventories to their present location and condition. Inventories are
valued at cost or net realizable value, whichever is lower on the basis of first in first out method
or specific identification, as the case may be.

ii. Finished stock are valued at lower of cost or net realizable value on the basis of actual
identified units.

Net realisable value is the estimated selling price in the ordinary course of business less the
estimated costs of completion and the estimated costs necessary to make the sale.

l) Revenue Recognition

In respect of Sales

Sales are recognised when goods are supplied and significant risk and reward of the ownership in
the goods are transferred to the buyer as per the terms of contract and no significant uncertainty
exists regarding the amount of the consideration that will be derived from the sale of the goods.
Sales are inclusive of duty and net of returns, trade discounts, rebates and GST.

In respect of interest income

Interest income is accounted on an accrual basis at interest rate method. The effective interest rate
is the rate that exactly discounts estimated future cash receipts through the expected life of the
financial asset to the gross carrying amount of a financial asset. When calculating the effective
interest rate, the Company estimates the expected cash flows by considering all the contractual
terms of the financial instrument (for example, prepayment, extension, call and similar options)
but does not consider the expected credit losses.

In respect of Dividend income

Dividend income including share of profit in LLP is recognized when the right to receive the
payment is established, it is probable that the economic benefits associated with the dividend will
flow to the Company, and the amount of the dividend can be measured reliably.

m) Taxation

The income tax expense or credit for the period is the tax payable on the current period’s taxable
income based on the applicable income tax rate for each jurisdiction adjusted by changes in
deferred tax assets and liabilities attributable to temporary differences and to unused tax losses.

Current and deferred tax is recognised in profit or loss, except to the extent that it relates to items
recognised in other comprehensive income or directly in equity. In this case, the tax is also
recognised in other comprehensive income or directly in equity, respectively.

The current income tax charge is calculated on the basis of the tax laws enacted or substantively
enacted at the end of the reporting period in the countries where the Company operate and
generate taxable income. Management periodically evaluates positions taken in tax returns with
respect to situations in which applicable tax regulation is subject to interpretation. It establishes
provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.

Deferred income tax is provided in full, using the liability method, on temporary differences arising
between the tax bases of assets and liabilities and their carrying amounts in the financial
statements. However, deferred tax liabilities are not recognised if they arise from the initial
recognition of goodwill. Deferred income tax is also not accounted for if it arises from initial
recognition of an asset or liability in a transaction other than a business combination that at the
time of the transaction affects neither accounting profit nor taxable profit (tax loss). Deferred
income tax is determined using tax rates (and laws) that have been enacted or substantially
enacted by the end of the reporting period and are expected to apply when the related deferred
income tax asset is realised, or the deferred income tax liability is settled.

Deferred tax assets are recognised for all deductible temporary differences and unused tax losses
only if it is probable that future taxable amounts will be available to utilise those temporary
differences and losses.

Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset
current tax assets and liabilities and when the deferred tax balances relate to the same taxation
authority. Current tax assets and tax liabilities are offset where the entity has a legally enforceable
right to offset and intends either to settle on a net basis, or to realise the asset and settle the
liability simultaneously.

n) Employee Benefits

i. Short term employee benefits

Liabilities for wages and salaries, including non-monetary benefits that are expected to be
settled wholly within 12 months after the end of the period in which the employees render the
related service are recognised in respect of employees’ services up to the end of the reporting
period and are measured at the amounts expected to be paid when the liabilities are settled.
The liabilities are presented as current employee benefit obligations in the balance sheet.

ii. Post-employment benefits

Long-term employee benefits The Company’s net obligation in respect of long term
employee benefit is the amount of future benefit that employees have earned in return of their
service in the current and prior periods. The benefit is discounted to determine its present
value. Re- measurement are recognized in Statement of Profit & Loss in the period in which
they arise.

o) Cash and Cash equivalent

For the purpose of presentation in the statement of cash flows, cash and cash equivalents includes
cash on hand, deposits held at call with financial institutions, other short-term, highly liquid
investments with original maturities of three months or less that are readily convertible to known
amounts of cash and which are subject to an insignificant risk of changes in value.

p) Earnings per share

Basic earnings per share is computed by dividing the profit / (loss) after tax by the weighted
average number of equity shares outstanding during the year.

Diluted earnings per share is computed by dividing the profit / (loss) after tax as adjusted for
dividend, interest and other charges to expense or income (net of any attributable taxes) relating to
the dilutive potential equity shares, by the weighted average number of equity shares considered

for deriving basic earnings per share and the weighted average number of equity shares which
could have been issued on conversion of all dilutive potential equity shares.

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Mar 31, 2016

A. RELATED PARTY TRANSACTIONS

There were no materially significant transactions with the related parties, during the year, which were in conflict with the interests of the Company and that require an approval of the Company in terms of the SEBI Listing Regulations. Transactions with the related parties are disclosed in Notes to the Annual Accounts.

The Audit Committee grants omnibus approval from the financial year 2015-16 onwards for each financial year upto the maximum amount per annum for the proposed related party transactions.

Audit Committee lays down the criteria for granting omnibus approvals in line with the policy for transactions which are repetitive in nature. In such cases where the need for Related Party Transaction cannot be foreseen and details as required above are not available, the Audit Committee grants omnibus approval for such transactions subject to their value not exceeding Rupees Fifty Crore per annum per related party. The Audit Committee reviews, at least on a quarterly basis, the details of related party transactions entered into by the Company pursuant to each of the omnibus approval given.

The policy on Related Party Transactions is displayed on the website of the Company under the web link http://www.nouveauglobal.com/pdf/PolicyOnRelatedPartyTransaction.pdf.

B. Details of non-compliance by the Company, penalties, and strictures imposed on the Company by Stock Exchange(s) or SEBI or any statutory authority on any matter related to capital markets, during the last three years.

During the year 2014-15, the Company paid penalty of Rs. 11,124 to BSE for non-compliance of Clause 31 of Listing agreement during the year ended March, 2014.

C. DISCLOSURE OF ACCOUNTING TREATMENT

Your Company has not adopted any alternative accounting treatment prescribed differently from the Accounting Standards issued by The Institute of Chartered Accountants of India. The significant accounting policies which are consistently applied have been set out in the Notes to the financial statements.

D. WHISTLE BLOWER POLICY

Your Company has established a Vigil Mechanism/ Whistle Blower Policy to enable stakeholders (including Directors and employees) to report unethical behavior, actual or suspected fraud or violation of the Company''s Code of Conduct. The Policy provides adequate safeguards against victimization of Director(s)/ employee(s) and direct access to the Chairman of the Audit Committee in exceptional cases. The Protected Disclosures, if any reported under this Policy will be appropriately and expeditiously investigated by the Chairman.

Your Company hereby affirms that no Director/ employee have denied access to the Chairman of the Audit Committee and that no complaints were received during the year.

The Whistle Blower Policy has been disclosed on the Company''s website under the web link http://www.nouveauglobal.com/pdf/WhistleBlowerPolicy.pdf and circulated to all the Directors / employees.

E. The Company has complied with all applicable mandatory requirements in terms of Clause 49 of the Listing Agreement/SEBI Listing Regulations. Non mandatory requirements to extent possible have been complied with and will be reviewed from time to time for due implementation of same. A report on the compliances on the applicable laws for the Company is placed before the Board on a quarterly basis for its review and consideration

F. RECONCILIATION OF SHARE CAPITAL AUDIT

The Company has engaged a qualified practicing Chartered Accountant to carry out a share capital audit to reconcile the total admitted equity share capital with the National Securities Depository Limited (NSDL) and the Central Depository Services (India) Limited (CDSL) and the total issued and listed equity share capital. The audit report confirms that the total issued / paid up capital is in agreement with the total number of shares in physical form and the total number of dematerialized shares held with NSDL and CDSL.

G. RISK MANAGEMENT COMMITTEE

Your Company has constituted a Risk Management Committee. The Committee comprises Mr. Narendra Gupta as the Chairman and Mr. Manoj Bhatia and Mr. Omprakash Bajaj as members o the Committee.

The role of Risk Management Committee is as follows:

- Identifies potential risks associated with the Company''s business

- Implementation of Risk Management Systems and Framework;

- Reviewing the Company''s financial and risk management policies;

- Assessing risk and minimizing the procedures;

- Framing, implementing and monitoring the risk management plan for the Company.

H. COMPLIANCE CERTIFICATE FROM THE AUDITORS

The Company has obtained a Certificate from the Auditors of the Company regarding compliance with the provisions relating to Corporate Governance prescribed by SEBI listing Regulation, which is attached as "Annexure-IV" herewith.

APPOINTMENT & REMUNERATION POLICY OF DIRECTORS. KEY MANAGERIAL PERSONNEL AND OTHER EMPLOYEES

1. OBJECTIVE:

We design our Remuneration Policy to attract, motivate and retain the Directors, KMP and other employees who are the drivers of organization''s success and help us to run the company successfully and to retain our industry competitiveness.

2. POLICY ON BOARD DIVERSITY:

The Board of Directors shall have the optimum combination of Directors including one Woman Director from different areas/fields like production, Technology management, Finance, Sales & marketing, Human Resources, Administration etc or as may be considered appropriate.

The Board shall have at least one Board member who has accounting or related financial management expertise and at least three members who are financially literate.

2.1 Policy for Appointment and Removal of Director, Senior Management Personnel & KMP:

- Selection Criteria for Directors:

The Company shall consider the following aspects while appointing a person as a Director on the Board of the Company:

i) Skills and Experience: The candidate shall have appropriate skills and experience in one or more fields of finance, law, management, sales, marketing, administration, public administrative services, research, corporate governance, technical operations or any other discipline related to the Company''s business

ii) Age Limit: The candidate should have completed the age of twenty-one (21) years and should not have attained the age of seventy (70) years.

iii) Directorship: The number of companies in which the candidate holds Directorship should not exceed the number prescribed under the Companies Act, 2013 or under the Listing Agreement requirements.

iv) Independence: The candidate proposed to be appointed as Independent Director, should not have any direct or indirect material pecuniary relationship with the Company and must satisfy the requirements imposed under the Act or under the Listing Agreement requirements.

The policy provides that while appointing a Director to the Board, due consideration will be given to:

- Approvals of the Board and/or shareholders of the Company in accordance with the Companies Act, 2013 ; and

- The Articles of Association of the Company.

- Selection Criteria for Senior Management Personnel & KMP

For the purpose of this policy Senior Management shall mean all the members of management one level below the executive directors, including all functional heads of the Company. The policy provides that the candidate should have appropriate qualifications, functional expertise and experience for discharging the role. The qualifications, skills and experience of each such position shall be defined in the job description, which will be maintained by the Company.

- Removal: i) Directors & KMPs:

The Committee may recommend, to the Board with reasons recorded in writing, removal of a Director and KMP subject to the provisions and compliance of the Companies Act, 2013 rules and regulations there under.

ii) Senior Management Personal:

The Senior Management Personnel shall retire as per the prevailing policy of the Company. The Committee will have the discretion to retain the Senior Manager Personnel in the same position/ remuneration or otherwise even after attaining the retirement age, for the benefit of the Company based on the recommendation of Board of Directors.

3. PERFORMANCE EVALUATION OF DIRECTORS:

The Nomination & Remuneration Committee of the Board laid down the criteria for performance evaluation of all Directors. The performance evaluation has been done by the entire Board of Directors, except the Director concerned being evaluated. The criteria for performance evaluation are as follows:

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Mar 31, 2015

1. Basis of Accounting

a) The Financial Statements have been prepared in compliance with mandatory accounting standards as prescribed under Section133 of the Companies Act,2013 ('Act') read with Rule 7 of the Companies (Accounts) Rules,2014,theprovisions of the Act (to the extent notified) and guidelines issued by the Securities and Exchange Board of India (SEBI).

a) Financial Statements are based on historical cost convention and are prepared on accrual basis.

2. Use of Estimates

The preparation of financial statements in conformity with Generally Accepted Accounting Principles requires estimates and assumptions to be made that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities on the financial statements and the reported amounts of revenues and expenses during the reporting period.

Difference between actual results and estimates are recognized in the periods in which the results are known/ materialize.

3. Revenue Recognition

a) Profits or Losses from Stock-in-trade are recognised on trade date on "First-in-first- out" basis.

b) Revenue in respect of various rights attached to the movies (Feature films) is recognised at the time of their respective telecast.

c) Sales are recognized when all significant risks and reward of ownership of the goods are passed on to the buyer.

d) Dividend income is recognized on receipt basis.

4. Fixed Assets:

Fixed Assets are stated at actual cost less accumulated depreciation. Cost comprises the purchase price and any attributable cost of bringing the asset to its working condition for its intended use.

5. Impairment of Fixed Assets

At the end of each year, the Company determines whether a provision should be made for impairment loss on fixed assets by considering the indication that an impairment loss may have occurred in accordance with Accounting Standard 28 on "Impairment of Assets". Where the recoverable amount of any fixed assets is lower than its carrying amount, a provision for impairment loss on fixed assets is made for the difference.

6. Depreciation

Depreciation on all Fixed Assets is provided on 'Straight Line Method' over the useful lives of assets as prescribed under Part C of Schedule II of the Companies Act 2013.

7. Investments:

Investments that is intended to be held for more than a year from the date of acquisition are classified as long term investments and are carried at cost less any provision for permanent diminution in value. Investments other than long term investments being current investments are valued at cost or fair market value whichever is lower.

8. Miscellaneous Expenditure:

Preliminary expenses are amortized in the year in which they are incurred.

9. Inventories

Stock in Trade is valued as follows:

a) Quoted Shares / Debentures are Valued category wise at cost or market price, whichever is lower.

b) Unquoted Shares - Valued scrip wise at cost or break up value, whichever is lower.

c) In case of film and other rights - valued at lower of cost and net realisable value.

d) Work in Progress - cost of TV rights acquired is valued at actual cost.

e) Stock of traded goods is valued at cost or net realizable value whichever is lower

10. Employee Benefits

a) Company's contribution to Provident Fund for the year is accounted on accrual basis and charged to the Profit & Loss Account for the year.

b) Retirement benefits in the form of Gratuity are considered as defined benefit obligations and are provided on the basis of the actuarial valuation, using the projected unit credit method as at the date of the Balance Sheet.

11. Provisions and Contingent Liabilities

a) Provisions are recognized in terms of Accounting Standard 29- "Provisions, Contingent Liabilities and Contingent Assets issued by The Institute of Chartered Accountants of India (ICAI), when there is a present legal or statutory obligation as a result of past events where it is probable that there will be outflow of resources to settle the obligation and when a reliable estimate of the amount of the obligation can be made.

b) Contingent Liabilities are recognized only when there is a possible obligation arising from past events due to occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the company or where reliable estimate of the obligation cannot be made. Obligations are assessed on an ongoing basis and only those having a largely probable outflow of resources are provided for. Contingent

c) Liabilities are disclosed by way of notes.

12. Accounting for Taxation of Income : Current Taxes

Provision for current income-tax is recognized in accordance with the provisions of Indian Income- tax Act, 1961 and is made annually based on the tax liability after taking credit for tax allowances and exemptions.

Deferred Taxes

Deferred tax assets and liabilities are recognized for the future tax consequences attributable to timing differences that result between the profits offered for income taxes and the profits as per the financial statements. Deferred tax assets and liabilities are measured using the tax rates and the tax laws that have been enacted or substantially enacted at the Balance Sheet date. Deferred tax assets are recognized only to the extent there is reasonable certainty that the assets can be realized in the future. Deferred tax assets are reviewed as at each Balance Sheet date.

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Mar 31, 2014

1. Basis of Accounting

a) The Financial Statements have been prepared in compliance with the Accounting Standards notified by Companies (Accounting Standard) Rules 2006 and the relevant provisions of the Companies Act, 1956 in all material aspects.

b) Financial Statements are based on historical cost convention and are prepared on accrual basis.

2. Use of Estimates

The preparation of financial statements in conformity with Generally Accepted Accounting Principles requires estimates and assumptions to be made that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities on the financial statements and the reported amounts of revenues and expenses during the reporting period. Difference between actual results and estimates are recognized in the periods in which the results are known/materialize.

3. Revenue Recognition

a) Profits or Losses from Stock-in-trade are recognised on trade date on "First-in-first-out" basis.

b) Revenue in respect of various rights attached to the movies (Feature films) is recognised at the time of their respective telecast.

c) Sales are recognized when all significant risks and reward of ownership of the goods are passed on to the buyer.

d) Dividend income is recognized on receipt basis.

4. Fixed Assets:

Fixed Assets are stated at actual cost less accumulated depreciation. Cost comprises the purchase price and any attributable cost of bringing the asset to its working condition for its intended use.

5. Impairment of Fixed Assets

At the end of each year, the Company determines whether a provision should be made for impairment loss on fixed assets by considering the indication that an impairment loss may have occurred in accordance with Accounting Standard 28 on "Impairment of Assets". Where the recoverable amount of any fixed assets is lower than its carrying amount, a provision for impairment loss on fixed assets is made for the difference.

6. Depreciation

Depreciation on all Fixed Assets is provided on ''Straight Line Method'' at the rates and in the manner prescribed in the Schedule XIV of the Companies Act, 1956.

7. Investments:

Investments that is intended to be held for more than a year from the date of acquisition are classified as long term investments and are carried at cost less any provision for permanent diminution in value. Investments other than long term investments being current investments are valued at cost or fair market value whichever is lower.

8. Miscellaneous Expenditure:

Preliminary expenses are amortized in the year in which they are incurred.

9. Inventories

Stock in Trade is valued as follows:

a) Quoted Shares / Debentures are Valued category wise at cost or market price, whichever is lower.

b) Unquoted Shares - Valued scrip wise at cost or break up value, whichever is lower.

c) In case of film and other rights - valued at lower of cost and net realisable value.

d) Work in Progress - cost of TV rights acquired is valued at actual cost.

e) Stock of traded goods is valued at cost or net realizable value whichever is lower

10. Employee Benefits

a) Company''s contribution to Provident Fund for the year is accounted on accrual basis and charged to the Profit & Loss Account for the year.

b) Retirement benefits in the form of Gratuity are considered as defined benefit obligations and are provided on the basis of the actuarial valuation, using the projected unit credit method as at the date of the Balance Sheet.

11. Provisions and Contingent Liabilities

a) Provisions are recognized in terms of Accounting Standard 29- "Provisions, Contingent Liabilities and Contingent Assets issued by The Institute of Chartered Accountants of India (ICAI), when there is a present legal or statutory obligation as a result of past events where it is probable that there will be outflow of resources to settle the obligation and when a reliable estimate of the amount of the obligation can be made.

b) Contingent Liabilities are recognized only when there is a possible obligation arising from past events due to occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the company or where reliable estimate of the obligation cannot be made. Obligations are assessed on an ongoing basis and only those having a largely probable outflow of resources are provided for.

c) Contingent Liabilities are disclosed by way of notes.

12. Accounting for Taxation of Income:

Current Taxes

Provision for current income-tax is recognized in accordance with the provisions of Indian Income- tax Act, 1961 and is made annually based on the tax liability after taking credit for tax allowances and exemptions.

Deferred Taxes

Deferred tax assets and liabilities are recognized for the future tax consequences attributable to timing differences that result between the profits offered for income taxes and the profits as per the financial statements. Deferred tax assets and liabilities are measured using the tax rates and the tax laws that have been enacted or substantially enacted at the Balance Sheet date. Deferred tax assets are recognized only to the extent there is reasonable certainty that the assets can be realized in the future. Deferred tax assets are reviewed as at each Balance Sheet date.

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Mar 31, 2012

1. Basis of Accounting

a) The Financial Statements have been prepared in compliance with the Accounting Standards notified by Companies (Accounting Standard) Rules 2006 and the relevant provisions of the Companies Act, 1956 in all material aspects.

b) Financial Statements are based on historical cost convention and are prepared on accrual basis.

2. Use of Estimates

The preparation of financial statements in conformity with Generally Accepted Accounting Principles requires estimates and assumptions to be made that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities on the financial statements and the reported amounts of revenues and expenses during the reporting period.

Difference between actual results and estimates are recognized in the periods in which the results are known/ materialize.

3. Revenue Recognition

a) Profits or Losses from Stock-in-trade are recognised on trade date on "First-in-first-out" basis.

b) Revenue in respect of various rights attached to the movies (Feature films) is recognised at the time of their respective telecast.

c) Sales are recognized when all significant risks and reward of ownership of the goods are passed on to the buyer.

d) Dividend income is recognized on receipt basis.

4. Fixed Assets:

Fixed Assets are stated at actual cost less accumulated depreciation. Cost comprises the purchase price and any attributable cost of bringing the asset to its working condition for its intended use.

5. Impairment of Fixed Assets

At the end of each year, the Company determines whether a provision should be made for impairment loss on fixed assets by considering the indication that an impairment loss may have occurred in accordance with Accounting Standard 28 on "Impairment of Assets". Where the recoverable amount of any fixed assets is lower than its carrying amount, a provision for impairment loss on fixed assets is made for the difference.

6. Depreciation

Depreciation on all Fixed Assets is provided on 'Straight Line Method' at the rates and in the manner prescribed in the Schedule XIV of the Companies Act, 1956.

7. Investments:

Investments that is intended to be held for more than a year from the date of acquisition are classified as long term investments and are carried at cost less any provision for permanent diminution in value. Investments other than long term investments being current investments are valued at cost or fair market value whichever is lower.

8. Miscellaneous Expenditure:

Preliminary expenses are amortized in the year in which they are incurred.

9. Inventories

Stock in Trade is valued as follows:

a) Quoted Shares / Debentures are Valued category wise at cost or market price, whichever is lower.

b) Unquoted Shares - Valued scrip wise at cost or break up value, whichever is lower.

c) In case of film and other rights - valued at lower of cost and net realisable value.

d) Work in Progress - cost of TV rights acquired is valued at actual cost.

e) Stock of traded goods is valued at cost or net realizable value whichever is lower

10. Employee Benefits

a) Company's contribution to Provident Fund for the year is accounted on accrual basis and charged to the Profit & Loss Account for the year.

b) Retirement benefits in the form of Gratuity are considered as defined benefit obligations and are provided on the basis of the actuarial valuation, using the projected unit credit method as at the date of the Balance Sheet.

11. Provisions and Contingent Liabilities

a) Provisions are recognized in terms of Accounting Standard 29- "Provisions, Contingent Liabilities and Contingent Assets issued by The Institute of Chartered Accountants of India (ICAI), when there is a present legal or statutory obligation as a result of past events where it is probable that there will be outflow of resources to settle the obligation and when a reliable estimate of the amount of the obligation can be made.

b) Contingent Liabilities are recognized only when there is a possible obligation arising from past events due to occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the company or where reliable estimate of the obligation cannot be made. Obligations are assessed on an ongoing basis and only those having a largely probable outflow of resources are provided for.

c) Contingent Liabilities are disclosed by way of notes.

12. Accounting for Taxation of Income : Current Taxes

Provision for current income-tax is recognized in accordance with the provisions of Indian Income- tax Act, 1961 and is made annually based on the tax liability after taking credit for tax allowances and exemptions.

Deferred Taxes

Deferred tax assets and liabilities are recognized for the future tax consequences attributable to timing differences that result between the profits offered for income taxes and the profits as per the financial statements. Deferred tax assets and liabilities are measured using the tax rates and the tax laws that have been enacted or substantially enacted at the Balance Sheet date. Deferred tax assets are recognized only to the extent there is reasonable certainty that the assets can be realized in the future. Deferred tax assets are reviewed as at each Balance Sheet date.

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Mar 31, 2011

1. Basis of Accounting

a) The Financial Statements have been prepared in compliance with the Accounting Standards notified by Companies (Accounting Standard) Rules 2006 and the relevant provisions of the Companies Act, 1956 in all material aspects.

b) Financial Statements are based on historical cost convention and are prepared on accrual basis.

2. Use of Estimates

The preparation of financial statements in conformity with Generally Accepted Accounting Principles requires estimates and assumptions to be made that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities on the financial statements and the reported amounts of revenues and expenses during the reporting period.

Difference between actual results and estimates are recognized in the periods in which the results are known/ materialize.

3. Revenue Recognition

a) Profits or Losses from Stock-in-trade are recognised on trade date on "First-in-first-out" basis.

b) Revenue in respect of various rights attached to the movies (Feature films) is recognised at the time of their respective telecast.

c) Sales are recognized when all significant risks and reward of ownership of the goods are passed on to the buyer.

d) Dividend income is recognised on receipt basis.

4. Fixed Assets:

Fixed Assets are stated at actual cost less accumulated depreciation. Cost comprises the purchase price and any attributable cost of bringing the asset to its working condition for its intended use.

5. Impairment of Fixed Assets

At the end of each year, the Company determines whether a provision should be made for impairment loss on fixed assets by considering the indication that an impairment loss may have occurred in accordance with Accounting Standard 28 on "Impairment of Assets". Where the recoverable amount of any fixed assets is lower than its carrying amount, a provision for impairment loss on fixed assets is made for the difference.

6. Depreciation

Depreciation on all Fixed Assets is provided on 'Straight Line Method' at the rates and in the manner prescribed in the Schedule XIV of the Companies Act, 1956.

7. Investments:

Investments that is intended to be held for more than a year from the date of acquisition are classified as long term investments and are carried at cost less any provision for permanent diminution in value. Investments other than long term investments being current investments are valued at cost or fair market value whichever is lower.

8. Miscellaneous Expenditure:

Preliminary expenses are amortized in the year in which they are incurred.

9. Inventories Stock in Trade is valued as follows:

a) Quoted Shares / Debentures are Valued category wise at cost or market price, whichever is lower.

b) Unquoted Shares - Valued scrip wise at cost or break up value, whichever is lower.

c) In case of film and other rights - valued at lower of cost and net realisable value.

d) Work in Progress - cost of TV rights acquired is valued at actual cost.

e) Stock of traded goods is valued at cost or net realizable value whichever is lower

10. Employee Benefits

a) Company's contribution to Provident Fund for the year is accounted on accrual basis and charged to the Profit & Loss Account for the year.

b) Retirement benefits in the form of Gratuity are considered as defined benefit obligations and are provided on the basis of the actuarial valuation, using the projected unit credit method as at the date of the Balance Sheet.

11. Provisions and Contingent Liabilities

a) Provisions are recognized in terms of Accounting Standard 29- "Provisions, Contingent Liabilities and Contingent Assets issued by The Institute of Chartered Accountants of India (ICAI), when there is a present legal or statutory obligation as a result of past events where it is probable that there will be outflow of resources to settle the obligation and when a reliable estimate of the amount of the obligation can be made.

b) Contingent Liabilities are recognized only when there is a possible obligation arising from past events due to occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the company or where reliable estimate of the obligation cannot be made. Obligations are assessed on an ongoing basis and only those having a largely probable outflow of resources are provided for.

c) Contingent Liabilities are disclosed by way of notes.

12. Accounting for Taxation of Income :

Current Taxes

Provision for current income-tax is recognized in accordance with the provisions of Indian Income- tax Act, 1961 and is made annually based on the tax liability after taking credit for tax allowances and exemptions.

Deferred Taxes

Deferred tax assets and liabilities are recognized for the future tax consequences attributable to timing differences that result between the profits offered for income taxes and the profits as per the financial statements. Deferred tax assets and liabilities are measured using the tax rates and the tax laws that have been enacted or substantially enacted at the Balance Sheet date. Deferred tax assets are recognized only to the extent there is reasonable certainty that the assets can be realized in the future. Deferred tax assets are reviewed as at each Balance Sheet date.

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Mar 31, 2010

1. Basis of Accounting :

The Financial Statements have been prepared under the historical cost convention on an accrual basis and in accordance with the applicable accounting standards issued by The Institute of Chartered Accountants of India and the relevant provisions of the Companies Act, 1956.

2. Fixed Assets :

Fixed Assets are stated at actual cost less accumulated depreciation. Cost comprises the purchase price and any attributable cost of bringing the asset to its working condition for its intended use.

3. Depreciation :

The Company provides depreciation on Fixed Assets on Straight Line Method as per the rates prescribed in Schedule XIV to the Companies Act, 1956.

4. Investments :

Long Term Investments are valued at Cost less any provision for permanent diminution in value.

5. Impairment of Fixed Assets :

At the end of each year, the Company determines whether a provision should be made for impairment loss on fixed assets by considering the indication that an impairment loss may have occurred in accordance with Accounting Standard 28 on "Impairment of Assets" issued by the ICAI. Where the recoverable amount of any fixed assets is lower than its carrying amount, a provision for impairment loss on fixed assets is made for the difference.

6. Inventories:

Stock in Trade is valued as follows :

i. Quoted Shares / Debentures - Valued category wise at cost or market price, whichever is lower.

ii. Unquoted Shares - Valued scrip wise at cost or break up value, whichever is lower.

iii. In case of film rights, same is valued at lower of cost and net realisablevalue.

iv. Work in Progress: Cost of TV rights acquired is valued at actual cost.

7. Revenue Recognition :

i. Profits or Losses from Stock-in-trade are recognised on trade date on "First-in-first-out" basis. ii. Revenue in respect of various rights attached to the movies (Feature films) is recognised at the time of their respective telecast. iii. Dividend income is recognised on receipt basis.

8. Treatment of Contingent Liabilities :

i. Contingent liabilities under various fiscal laws includes those in respect of which the company / department is in appeal.

ii. Contingent liabilities are disclosed by way of notes.

9. Accounting for Taxation on income:

i. Provision for Income Tax is made, if applicable after considering exemptions and deductions available at the rates applicable under the Income Tax Act, 1961.

ii. The deferred tax asset and deferred tax liability is calculated by applying tax rate and tax laws that have been enacted or substantively enacted by the Balance Sheet date. Unabsorbed depreciation under tax laws, are recognised, only if there is a virtual certainty of its realisation, supported by convincing evidence. Deferred tax assets on account of other timing differences are recognised only to the extent there is a reasonable certainty of its realisation at each Balance Sheet date. The carrying amount of deferred tax asset is reviewed to reassure realisation.

10. Employee Benefits:

i. Companys contribution to Provident Fund and other Funds for the year is accounted on accrual basis and charged to the Profit & Loss Account for the year.

ii. Liability for leave encashment benefits has been provided on accrual basis.

iii. Retirement benefits in the form of Gratuity are considered as defined benefit obligations and are provided on the basis of the actuarial valuation, using the projected unit credit method as at the date of the Balance Sheet.

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Mar 31, 2009

1. Basis of Accounting :

The Financial Statements have been prepared under the historical cost convention on an accrual basis and in accordance with the applicable accounting standards issued by The Institute of Chartered Accountants of India and the relevant provisions of the Companies Act, 1956.

2. Fixed Assets :

Fixed Assets are stated at actual cost less accumulated depreciation. Cost comprises the purchase price and any attributable cost of bringing the asset to its working condition for its intended use.

3. Depreciation :

The Company provides depreciation on Fixed Assets on Straight Line Method as per the rates prescribed in Schedule XIV to the Companies Act, 1956.

4. Investments :

Long Term Investments are valued at Cost less any provision for permanent diminution in value.

5. Impairment of Fixed Assets :

At the end of each year, the Company determines whether a provision should be made for impairment loss on fixed assets by considering the indication that an impairment loss may have occurred in accordance with Accounting Standard 28 on "Impairment of Assets" issued by the ICAI. Where the recoverable amount of any fixed assets is lower than its carrying amount, a provision for impairment loss on fixed assets is made for the difference.

6. Inventories :

Stock in Trade is valued as follows :

i. Quoted Shares / Debentures - Valued category wise at cost or market price, whichever is lower.

ii. Unquoted Shares - Valued scrip wise at cost or break up value, whichever is lower.

iii. In case of film rights, same is valued at lower of cost and net realisable value.

iv. Work in Progress: Cost of TV rights acquired is valued at actual cost.

7. Revenue Recognition :

i. Profits or Losses from Stock-in-trade are recognised on trade date on "First-in-first-out" basis. ii. Revenue in respect of various rights attached to the movies (Feature films) is recognised at the time of their respective telecast. iii. Dividend income is recognised on receipt basis.

8. Treatment of Contingent Liabilities :

i. Contingent liabilities under various fiscal laws includes those in respect of which the company

/ department is in appeal. ii. Contingent liabilities are disclosed by way of notes.

9. Accounting for Taxation on income:

i. Provision for Income Tax is made, if applicable after considering exemptions and deductions available at the rates applicable under the Income Tax Act, 1961.

ii. The deferred tax asset and deferred tax liability is calculated by applying tax rate and tax laws that have been enacted or substantively enacted by the Balance Sheet date. Unabsorbed depreciation under tax laws, are recognised, only if there is a virtual certainty of its realisation, supported by convincing evidence. Deferred tax assets on account of other timing differences are recognised only to the extent there is a reasonable certainty of its realisation at each Balance Sheet date. The carrying amount of deferred tax asset is reviewed to reassure realisation.

iii. Provisions for Fringe Benefit Tax (FBT) have been recognized on the basis of harmonious contextual interpretation of the provisions of the Income Tax Act, 1961.