Notes to Accounts of Radaan Mediaworks (I) Ltd.

Mar 31, 2024

m. Provisions, Contingent Liabilities & Contingent Assets:

Provisions involving substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources embodying economic benefits in respect of which a reliable estimate can be made.

Provisions are discounted if the effect of the time value of money is material, using pre-tax rates that reflects the risks specific to the liability. When discounting is used, an increase in the provisions due to the passage of time is recognized as finance cost. These provisions are reviewed at each Balance Sheet date and adjusted to reflect the current best estimates.

Insurance claims are accounted on the basis of claims admitted or expected to be admitted and to the extent that the amount recoverable can be measured reliably and it is reasonable to expect ultimate collection. Any subsequent change in the recoverability is provided for. Contingent Assets are not recognized.

Contingent liability is a possible obligation that may arise from past events and its existence will be confirmed only by occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Company or it is not probable that an outflow of resources embodying economic benefits will be required to settle the obligation and the same are not recognized but disclosed in the financial statements.

37 Subsidiary Company in Singapore

Company had incorporated a wholly owned subsidiary company - Radaan Media Ventures Pte Limited in Singapore to engage in media & entertainment activities. The Company’s investment of Rs.9,35,000 is shown at cost under head ‘Investments’. During the year, subsidiary company had not entered into any major commercial transaction. As on 31 -03-2024, unsecured loans and reimbursement due extended during earlier years to meet urgent working capital requirement and remain payable by subsidiary to the holding company was Rs.18,46,338. The details are provided under note no:44 of this report. Pursuant to provisions of section 129(3) of the Companies Act, unaudited statement containing salient features of the financial statements of

the subsidiary company as required in the prescribed Form AOC-1 is provided here below_:

38 Investments:

a) The Company investment of Rs.9,35,000/- (20,000 shares of Sing $ 1 each) in the subsidiary company - Radaan Media Ventures Pte Ltd., is shown at cost. The Company had entered into a share subscription agreement with Celebrity Cricket League Private Limited (‘CCL’) during the year 2010-11 and 2011-12 and had invested Rs.75 Lacs consists of 7,50,000 equity shares of Rs.10/- each and the fair value has been determined on the date of transition to Ind AS through fair value through other comprehensive income (FVTOCI) and carrying stood at Rs.72,25,231/- pending fair value measurement halted on account of Covid-19 pandemic. However, during the current financial year, the said investment was liquidated for Rs.1.25 Crores and excess realised over carrying cost of Rs.52,74,769 was accounted under Other Comprehensive Income.

b) Andhra Bank was amalgamated with Union Bank of India. As per scheme of amalgamation, the share allotment exchange ratio was 325 equity shares of the face value of Rs.10/- each fully paid up shares in Union Bank of India for every 1000 shares of the face value of Rs.10/- each fully paid up shares in Andhra Bank. Accordingly, investments of 600 no’s of shares in Andhra Bank resulted with 195 no’s of equity shares in Union Bank of India. The share price as per NSE closing rate as at 28^th March, 2024 was stood at Rs.153.50 per share and accordingly, the closing value was at Rs.29,932/-

39. The lease understanding entered on 11 months renewal on mutual consent basis. Hence, the compliance requirement in terms of Ind AS 116 - Leases shall not arise. The lease security deposits of Rs.20 Lakhs has been disclosed under schedule 10 - ‘Financial Assets - Non Current Assets - Loan and Advances’ and rental payments are charged to P & L account under the head ‘Rent, Rates & Taxes’.

40. The company formed a trust named ‘Radaan Mediaworks India Limited Employees Group Gratuity Assurance Scheme’ with intent to enter into an approved scheme of group gratuity with Life Insurance Corporation of India and to administer for the benefit of the employees. The gratuity report provided by LIC of India as at 31^st March 2024 in respect of gratuity of employees of the Company is given below:

I. R Sarathkumar is spouse of Managing Director & CEO II. Radikaa Rayane is daughter of Managing Director & CEO III. Resigned w.e.f.1^st August, 2021. IV. Resigned w.e.f. 4^th August, 2022. V. Joined w.e.f.14^th Feb, 2022. VI. Joined w.e.f.1^st Sep, 2022. VII. Joined w.e.r.1^st Sep, 2022 & resigned on 30^th March,2024. VII. Resigned w.e.f.10th May 2018. IX. Expenses towards gratuity and leave encashment provisions are determined actuarially on an overall company basis at the end of each year and contribution to the fund shall be made at the end of the financial year.

II.

46. Segment Reporting

The company operates in the area of producing content for tele-serials/films, digital content, web series, events, game shows, etc., apart from producing films, undertaking distribution activities, theatrical plays and setting up of training course comprise of acting, dance, martial arts, yoga etc., Management believes that it is not practical to provide segment disclosures relating to those costs and expenses as operational activities are intertwined and therefore, it has been decided by the management to report its functional operations under one segment - ‘Media & Entertainment”

47. The ‘Current Liabilities - Other Financial Liabilities’ note no: 26, the undisputed TDS dues of Rs.2,92,94,125, (including interest of Rs.44,66,375) remain unpaid as at 31/03/2024.

48. Disclosures as required under MSME Development Act, 2006:

The categorization of supplier as MSME registered under the Act under the new definition has been determined based on the information available with the Company as at the reporting date. The Company has also considered suppliers as MSME who possess the erstwhile MSME certificate for the period upto the reporting date, for the purpose of categorization and disclosures. However, there are no over dues to small and micro enterprises during the year ended March 2023 & March 2024.

49. Additional regulatory information as required under Companies Act 2013 / Indian Accounting Standards

A. Capital Work-In-Progress:

Company had entered into building construction agreement for 3^rd floor of the Commercial property at T.Nagar, Chennai with Mrs.R.Radikaa Sarathkumar, owner and promoter of the flats and Company’s Managing Director and also registered 1/3^rd proportionate UDS land in the name of the Company during the F.Y.2018-19. Completion schedule is delayed and overdue as per original plan due to pandemic caused by Covid-19. The financial details of Capital Work-In-Progress including the borrowing cost capitalized are as follows:

Reasons for Variation if more than 25%:

(1) Debt Service Coverage Ratio: There was substantial improvement in the earnings (as per DSCR workings methodology) for the year current year to Rs.194.47 lakhs from Rs.4.89 lakhs of the previous year. Further, for the current year, principal repayment interest stood at Rs.1010.33 lakhs as against Rs.618.17 lakhs of the previous year, resulting ratio as 0.192 for 31-3-2024 and 0.008 for 31-03.2023. Increase in earnings comparing to previous year and increase in repayment of principal interest amount during the current year is the main cause for huge variation.

(2) Return on Equity Ratio: The resultant profit for the current year at Rs.9.54 lakhs from the previous year loss of (Rs.169.76 lakhs) and decrease in the negative equity funds to the same extent (Rs.1141.78 lakhs) from (Rs.1151.32 lakhs) is the main cause for huge variation.

(3) Receivables Turnover Ratio: Both net revenue and average receivables for the current was increased to Rs.2,133.17 lakhs and Rs.193.31 lakhs respectively as compared to Rs.1,243.37 lakhs and Rs.152.99 lakhs of the previous year, resulting the average collection days to 33 days as compared to the previous year at 45 days.

(4) Trade payable Turnover Ratio: There was improvement in revenue resulting, thereby causing the decrease in the payment cycle from 161 days of previous year to 127 days for the current year.

(5) Net Capital Turnover Ratio: As there was improvement in receivables and payables with increase in inventory holding, resulting to 62 days for the current year as compared to 14 days of the previous year and hence, there is a variance.

(6) Net Profit Ratio: The current year performance resulted in net profit of Rs.9.54 lakhs as compared to the loss of Rs. 169.76 lakhs for the previous year with increase in net revenue, resulting -2.03% for the current year as against - 13.66% of the previous year.

(7) Return on Capital Employed: The Comprehensive income interest for the current year resulted as Rs.315.90 lakhs as against Rs.73.04 lakhs of the previous year, with avg. of total equity total debt stood at Rs.1,123.56 lakhs for the current year as against Rs1,127.13 lakhs, resulting to 28.12% for the current year as against 6.48% for the previous year.

(8) Return on Investment: The average total assets for the year ended 31-3-2024 stood at Rs.3,646.71 lakhs and for 31-3-2023 it stood at Rs. 3,046.73 lakhs and earnings stood at Rs.9.54 lakhs as compared to the loss of Rs. 169.76 lakhs for the previous year. This is main cause for the current year to result as 0.003% from - 0.06% of the previous year.

F. Undisclosed Income: During the year, the Company did not have any transactions, which were not recorded in the books of account that has been surrendered or disclosed as Income in the tax assessments under the Income Tax Act, 1961.

G. Struck off of Companies:

H. Immovable properties:

Immovable properties are held in the name of Company.

I. Benami Property:

The Company did not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property.

J. The Company has neither advanced or loaned or invested, nor received any fund, to or from, any other persons or entities including foreign entities (intermediaries) with the understanding that the intermediary shall:

i. directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Company or

ii. provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries.

K. The Company has registered charges with Registrar of Companies for credit facilities availed from bank and quarterly statements submitted with bank for working capital financial assistance are in agreement with books of account. No bank / financial institution have declared the Company as willful defaulter.

L. Provisions of CSR and compliance with layers of Companies are not applicable and the Company did not have any arrangements / schemes of amalgamations during the year.

M. Details of Crypto Currency or Virtual Currency

The Company did not trade or invest in Crypto Currency or virtual currency during the financial year. Hence disclosure relating thereto are not applicable.

A. Service Tax:

i) Service tax demand of Rs.19,30,27,340 was contested before CESTAT, Chennai for the period October 2004 to September 2007 and a stay was granted without any pre-deposit condition vide stay order 743/09 dt 21/07/2009 and final order 40341/2018 dt 06-02-2018 was passed allowing Company’s appeal with reference to the department to verify the records for discharge of tax on profit sharing revenue for the period 01-05-2006 to 30-09-2007. No tax demand exists as on date.

ii) In respect of service tax demand of Rs.4,68,55,299 (excluding penalty) for the period October 2007 to September 2010 vide

CESTAT Order 41705 - 41707 dt 01/06/2018 had concluded that the disallowance of input service credit is unjustified and requires to be set aside and passed the order accordingly and allowed the appeal in favour of the Company.

iii) Service tax demand of Rs.3,60,84,169 (including penalty of Rs.10 Lakhs) for the period October 2010 to September 2012 was set aside vide CESTAT Order no 40110-40111/2024 dated 01/02/2024 in the matter of Service Tax appeal No’s 41312 & 41313 arising out of Order-in-Original No’s 55 & 56 - 13-14 allowed the input service credit claimed and passed the Order in favour of the Company.

iv) Appeals have been filed before CESTAT for the period October 2012 to December 2015 against demands of similar nature and tax deposit of Rs.39,93,280 was made. The hearing is pending before CESTAT.

B. Sales Tax:

Hon’ble High Court of Madras granted interim stay order against sales tax demand for the period 2001 - 02 to 2004 - 05 and partially for the year 2005 - 06 as prayed by the Company. Hon’ble High Court of Madras has made interim stay granted earlier for the period 2001-02 to 2004-05 amounting to Rs.46,11,57,433 as absolute stay; vide order dated 19-11-2014.

Company has filed an appeal before Appellate Deputy Commissioner (CT) III, Chennai for the part of the disputed demand for the year 2005 - 06 amounting to Rs.2,28,60,665/- not covered under the stay order of Hon’ble High Court and as a condition have deposited a sum of Rs.50,10,401/-and also furnished personal bond by Managing Director & CEO for Rs. 1,78,50,265/- for stay of collection of tax. The Appellate Depute Commissioner (CT) III, has remanded the disputed demand to Asst. Commissioner of Sales Tax. The hearing was completed and order is awaited from Asst. Commissioner of Sales Tax.

C. Income Tax:

The Claim of Depreciation on Non-compete Fee and Brand Equity:

The claim of depreciation on Non-compete Rights of Rs.75 lacs and Brand equity of Rs.75 lacs had been successfully upheld by Honorable ITAT for the Asst. Years 2001-02, 2004-05, 2005-06, 2006-07, 2008-09.

The claim of depreciation was allowed for the A.Y.2002-03 and 2003-04 by CIT, Appeals - VI and the department had not appealed against the decision of CIT, Appeals.

The claim was allowed by CIT, Appeals 14 with respect to the A.Y. 2009-10, 2010-11 & 2011-12 and CIT, Appeals 12 with respect to the A.Y. 2012-13 & 2014-15.

With respect to the A.Y.2001-02 and 2005-06, department has appealed before the Hon’ble High Court of Madras against Hon’ble ITAT order for the A.Y.2001-02 and 2005-06. Hon’ble High Court of Madras vide T.C.(A)177 of 2010 dt 29/06/2018 granted depreciation and decided in favour of the Company.

Other matters:

A.Y.2009-10: CIT, Appeals -14 vide order dated 26/02/2019, deleted the addition made for tele-serial production expenses of Rs.2,33,58,021 and Income Tax Appellate Tribunal, upheld the findings of CIT, Appeals vide order dated 23/02/2022 based on appeal filed by Department in this regard. Against the said Order, Department has filed the appeal before Hon’ble High Court of Madras. The case filed by the department was dismissed and the substantial question of law as framed is answered in favour of the Company vide Order dated 22/07/2022.

A.Y.2010-11: The dis-allowance of Rs.7,12,10,430 on film production expenditure was confirmed by the Appeals - 12 vide order dt 28/9/2018 and Company has not filed against the said order as the entire film production expenditure of Rs.7,12,10,430 was allowed as deduction under Rule 9A in the A.Y. 2011-12 refer ACIT, Central Circle 2(1), Chennai dt 20/12/2018.

A.Y.2011-12: Assessment was re-opened and subsequently notice was issued u/s 142(1) and 143(2) and addition of Rs.30,28,120/- was made as excess cost claim of Free Commercial Time (FCT) vide ACIT, Central Circle 2(1), Chennai dt 20/12/2018. Company has filed appeal in the matter and pending before appropriate authority.

A.Y.2013-14: With respect to addition on account of interest of Rs.2,89,387 on IT refund issued to the Company for the A.Y.2011-12, CIT Appeal - 14 vide order dated 26/02/2019 had deleted the addition as no evidence was provided. In this regard, Assessing Officer has to verify the facts and decide the matters accordingly.

Based on survey u/s 133A, notice u/s153C and subsequent notice u/s 142(1) and 143(2) served for the assessment years 2012-13 to A.Y.2018-19, the return of the income and details were furnished for all 7 asst.years. The return of income and information furnished were accepted and assessment orders were passed for the A.Y.2012-13, A.Y.2013-14, A.Y.2014-15 and A.Y.2018-19 without any disallowance and additional tax liability. The disputed assessments are as follows:

A.Y.2015-16: Based on survey u/s 133A, notice u/s 153C and subsequent notice u/s 142(1) and 143(2) was served by Deputy Commissioner of Income tax, Central Circle 2(1). In response to the same the return of income was filed and details were furnished. The assessment was completed with addition of Rs.2,07,55,873 and order u/s 143(3) r.w.s.153C dated 31/12/2019 was passed with tax liability of Rs.1,34,68,486 after adjusting tax credit of Rs.89,77,229, the net tax liability stood at Rs.44,91,257.

Aggrieved by the above assessment order, appeal was filed on 13/01/2020 before CIT(A), Chennai 19 against disallowing the trade advances made in the course of business which was duly recorded in the books of account and reflected in the return of

A.Y.2016-17: Based on survey u/s 133A, notice u/s 153C and subsequent notice u/s 142(1) and 143(2) was served by Deputy Commissioner of Income tax, Central Circle 2(1). In response to the same the return of income was filed and details were furnished. The assessment was completed with addition of Rs.1,79,21,775 and order u/s 143(3) r.w.s.153C dated 31/12/2019 was passed with tax liability of Rs.1,28,75,451 after adjusting tax credit of Rs.65,94,998, the net tax liability stood at Rs.62,80,453.

Aggrieved by the above assessment order, appeal was filed on 13/01/2020 before CIT(A), Chennai 19 against disallowing the trade advances made in the course of business which was duly recorded in the books of account and reflected in the return of income filed before the date of survey and levy of tax, as undisclosed income.

A.Y.2017-18: Based on survey u/s 133A, notice u/s 153C and subsequent notice u/s 142(1) and 143(2) was served by Deputy Commissioner of Income tax, Central Circle 2(1). In response to the same the return of income was filed and details were furnished. The assessment was completed with addition of Rs.84,99,600 and order u/s 143(3) r.w.s.153C dated 31/12/2019 was passed with tax liability of Rs.73,35,469 after adjusting tax credit of Rs.58,66,054, the net tax liability stood at Rs.14,69,415.

Aggrieved by the above assessment order, appeal was filed on 14/01/2020 before CIT(A), Chennai 19 against disallowing the trade advances made in the course of business which was duly recorded in the books of account and reflected in the return of income filed before the date of survey and levy of tax, as undisclosed income.

54. Company has implemented the edit log feature in the accounting package in the month of May’24 to comply with audit trail requirements.

55. Figures of Previous year have been re-grouped and re-classified, wherever necessary to conform to those of the current year.

For M/s.SRSV & Associates

On behalf of the Board of Directors Chartered Accountants

Firm No.:015041S

Sd/- Sd/- Sd/-

R.Radikaa Sarathkumar Narayanan Iyer V.Rajeswaran

Managing Director & CEO Director Partner

(DIN: 00238371) (DIN : 03470438) Membership No: 020881

Sd/- Sd/-

M.Kavirimani Balaji Gandla

Chief Financial Officer Company Secretary

Place: Chennai Date : 25.05.2024.

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Mar 31, 2015

1. Subsidiary Company in Singapore

Company had incorporated a wholly owned subsidiary company - Radaan Media Ventures Pte Limited in Singapore to engage in media & entertainment activities. During the year, company had not entered into any business transaction. As on 31-03-2015, reimbursement due payable by subsidiary was Rs.12,63,889. Pursuant to provisions of section 129(3) of the Companies Act, a statement containing salient features of the financial statements of the subsidiary company as required in the prescribed form AOC-1 is provided here below:

2.Investments:

During the year 2010 -11, Company had entered into a share subscription agreement with Celebrity Cricket League Private Limited ('CCL') and had invested Rs.75 Lacs consists of 7,50,000 equity shares of Rs.10/- each and the same is shown at cost under the 'Non Current Investment'.

3.The Company had entered into leasehold agreements with Mrs.R.Radikaa Sarathkumar, Managing Director for acquiring leasehold rights for a period of 20 years in respect of properties at No.8 & 10, Paul Appasamy Street, Chennai -17.

4. The consideration for lease deposit was Rs. 200 Lakhs out of which a sum of Rs. 75 Lakhs was discharged by way of allotment of 7,50,000 equity shares of Rs. 10/- each as fully paid (since sub-divided) and out of the remaining deposit the sum of Rs.125 lacs was discharged in the form of cash. The registration formalities in respect of lease agreements are yet to be completed.

5. As per Accounting Standard 19 - Leases, issued by Institute of Chartered Accountants of India, the Operating Lease entered into by the Company is given below:

6. The total of future minimum lease payments under non-cancellable operating leases for each of the following periods;

(i) Not later than one year - Rs.18,00,000

(ii) Later than one year and not later than five years - Rs.72,00,000

(iii) Later than five years - Rs.6,00,000 (upto July 2020)

7. The total of future minimum sublease payments expected to be received under non-cancellable subleases at the balance sheet date - NIL

8. Lease payments recognized in the statement of profit and loss for the period, with separate amounts for minimum lease payments and contingent rents - Rs. 18,00,000/-

9. Sub-lease payments received (or receivable) recognized in the statement of profit and loss for the period - NIL

10. A general description of the lessee's significant leasing arrangements including, but not limited to, the following:

(i) The basis on which contingent rent payments are determined - NIL

(ii) The existence and terms of renewal or purchase options and escalation clauses

* Lease for period of 20 years renewable on the basis of completion of 11 months.

(iii) Restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing -

(a) Improvement to be made with the written consent of the Lessor,

(b) In case of vacation by lessee on its own before the expiry of the lease period, the cost of improvement made to leasehold property to be borne by the lessee.

(c) In the case of vacation at instance of the lessor before the expiry of the lease period, the written down value as on date of vacation to be borne by the lessor.

11. The company formed a trust named 'Radaan Mediaworks India Limited Employees Group Gratuity Assurance Scheme' with intent to enter into an approved scheme of group gratuity with Life Insurance Corporation of India and to administer for the benefit of the employees. The gratuity report provided by LIC of India as at 31st March 2015 under AS-15 in respect of gratuity of employees of the Company is given below:

12. Leave Encashment:

Company has taken an insurance policy with LIC of India for Group Leave Encashment Assurance Scheme for the benefit of employees. The report provided by LIC of India as at 31st March 2015 under AS 15 in respect of Group Leave Encashment of employees of the Company is given below:

13. The cost of episodes of tele-serial(s) / tele-film(s) / feature film(s) in progress or completed and pending telecast / release as on date of Balance Sheet has been considered as Work-in-progress and calculated based on absorption method and the same is valued at cost or market price, whichever is less.

14. As per accounting policy d., the value of unsold FCT accumulated and held for more than 12 months has been classified under 2.12 Non Current Assets. As per accounting policy n. Company has so far written off a sum of Rs.1,76,19,701 which includes write offof Rs.28,32,800 for the F.Y.2014 - 15 held under Non Current Assets.

15. As per accounting policy m.Accounting for media receivables, the company has written off a sum of Rs.1,00,34,234 for the financial year 2014-15 for which provision had already been made in earlier periods. This however, has not affected the financial results for the current year.

16. Related Parties Disclosure:

As per the Accounting Standard 18 - Related Party Disclosures issued by the Institute of Chartered Accountants of India, the Company's related parties and transactions are listed below: a. Partv(ies) having control:

17. Segment Reporting

The company operates in the area of producing content for tele-serials, events, game shows, etc., apart from producing films, undertaking distribution activities, theatrical plays and setting up of training course comprise of acting, dance, martial arts, yoga etc., Management believes that it is not practical to provide segment disclosures relating to those costs and expenses as operational activities are intertwined and therefore, it has been decided by the management to report its functional operations under one segment - 'Media & Entertainment' with effect from April 1, 2011 and continue to report accordingly.

18. There are no dues to small and micro enterprises during the year ended March 2015 & March 2014.

19. Contingent Liabilities:

SI. Particulars 31.03.2015 31.03.2014 No (in Rs.1) (in Rs.1)

Claims against the company not acknowledged as debts Service Tax

1 * October 2004 to September 2007 (inclusive of penalty of Rs.10 crore) 19,30,27,340 19,30,27,340

* October 2007 to September 2010 (excluding penalty) 4,68,55,299 4,68,55,299

* October 2010 to September2012 (including ofpenaltyofRs.10 lacs) 3,60,84,169 3,60,84,169

20. Sales Tax

April 2001 to March 2006 (including of penalty of Rs.29,04,10,859) 48,40,18,098 48,40,18,098

21. Service Tax:

Service tax demand was contested before CESTAT, Chennai and a stay was granted without any pre-deposit condition for the period October 2004 to September 2010. In respect of service tax demand of similar nature for the period October 2010 to September 2012, an appeal has been filed before CESTAT.

22. Sales Tax:

Hon'ble High Court of Madras granted interim stay order against sales tax demand for the period 2001 - 02 to 2004 - 05 and partially for the year 2005 - 06 as prayed by the Company. Company has filed an appeal before Appellate Deputy Commissioner (CT) III, Chennai for the part of the disputed demand for the year 2005 - 06 amounting to Rs.2,28,60,665/- not covered under the stay order of Hon'ble High Court and as a condition have deposited a sum of Rs.50,10,401/-and also furnished personal bond by Chairperson & Managing Director for Rs. 1,78,50,265/- for stay of collection of tax.

Hon'ble High Court of Madras has made interim stay granted earlier as absolute stay; vide order dated 19-11-2014.

In the above referred cases, Management firmly believes that its stand is likely to be upheld in the appellate process.

23. Licensed and Installed capacity - Not Applicable

24. Tax Expense:

* Minimum Alternate Tax (MAT) has been provided during the year on the resultant 'Book Profit' of the company.

* No provision is required for income tax on account of carried forward losses from the earlier years and hence not provided for.

25. Figures of Previous year have been re-grouped and re-classified, wherever necessary to conform to those of the current year.

26. Figures have been rounded off to the nearest rupee.

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Mar 31, 2014

1 Subsidiary Company in Singapore

Company had incorporated a wholly owned subsidiary company - Radaan Media Ventures Pte Limited in Singapore to engage in media & entertainment activities. During the year, Company has invested Sing $ 20,000 including 1 Sing $ subscribed at the time of incorporation. Company had also extended interest tree loan of Sing $ 90,000 and received the same during the year. As on 31-03-2014, reimbursement due payable by subsidiary was Sing $ 21,218. Other details are provided separately along with consolidated information.

2 Investments in CCL

During the year 2010 - 11, Company had entered into a share subscription agreement with Celebrity Cricket League Private Limited (''CCL'') and had invested Rs.75 Lacs consists of 7,50,000 equity shares of Rs.10/- each and the same is shown at cost under the Non current Investment.

3 The Company had entered into leasehold agreements with Managing Director tor acquiring leasehold rights tor a period of 20 years in respect of properties at No.8 & 10, Paul Appasamy Street, Chennai - 17.

The consideration tor lease deposit was Rs. 200 Lakhs out of which a sum of Rs. 75 Lakhs was discharged by way of allotment of 7,50,000 equity shares of Rs. 10/- each as fully paid and out of the remaining deposit the sum of Rs.125 lacs was discharged in the form of cash. The registration formalities in respect of lease agreements are yet to be completed.

As per Accounting Standard 19 - Leases, issued by Institute of Chartered Accountants of India, the Operating Lease entered into by the Company is given below:

a. The total of future minimum lease payments under non-cancellable operating leases tor each of the following periods;

(i) Not later than one year - Rs.18,00,000

(ii) Later than one year and not later than five years - Rs.72,00,000

(iii) Later than five years - Rs.24,00,000 (upto july 2020)

b. The total of future minimum sublease payments expected to be received under non-cancellable subleases at the balance sheet date - NIL

c. Lease payments recognized in the statement of profit and loss tor the period, with separate amounts tor minimum lease payments and contingent rents - Rs. 18,00,000/-

d. Sub-lease payments received (or receivable) recognized in the statement of profit and loss for the period - NIL

e. A general description of the lessee''s significant leasing arrangements including, but not limited to, the following:

(i) The basis on which contingent rent payments are determined - NIL

(ii) The existence and terms of renewal or purchase options and escalation clauses

- Lease tor period of 20 years renewable on the basis of completion of 11 months.

(iii) Restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing -

(a) Improvement to be made with the written consent of the Lessor,

(b) In case of vacation by lessee on its own before the expiry of the lease period, the cost of improvement made to leasehold property to be borne by the lessee.

(c) In the case of vacation at instance of the lessor before the expiry of the lease period, the written down value as on date of vacation to be borne by the lessor.

4 The company formed a trust named ''Radaan Mediaworks India Limited Employees Group Gratuity Assurance Scheme'' with intent to enter into an approved scheme of group gratuity with Lite Insurance Corporation of India and to administer tor the benefit of the employees. The gratuity report provided by LIC of India as at 31st March 2014 under AS-15 in respect of gratuity of employees of the Company is given below:

1. Assumption:

Discount Rate - 8%

Salary Escalation - 6%

5. The cost of episodes of tele-serial(s) / tele-film(s) / feature film(s) in progress or completed and pending telecast / release as on date of Balance Sheet has been considered as work-in-progress and calculated based on absorption method and the same is valued at cost or market price, whichever is less.

6. a. As per accounting policy d., the value of unsold FCT accumulated and held tor more than 12 months has been classified under 2.12 Non Current Assets. As per accounting policy n. Company has so tar written off a sum of Rs.1,47,86,901/- which includes write off of Rs.26,27,894/- for the F.Y.2013 - 14 held under Non Current Assets.

b. As per accounting policy m. Accounting tor media receivables, the company has written off a sum of Rs.1,00,34,234 for financial year 2013-14. This however, has not affected the financial results tor the current period.

7. Segment Reporting

The company operates in the area of producing content tor tele-serials, events, game shows, etc., apart from producing films, undertaking distribution activities, theatrical plays and setting up of training course comprise of acting, dance, martial arts, yoga etc., Management believes that it is not practical to provide segment disclosures relating to those costs and expenses as operational activities are intertwined. Therefore, it has been decided by the management to report its functional operations under one segment - ''media & entertainment'' with effect from April 1, 2011 and continue to report accordingly.

8. There are no dues to small and micro enterprises during the year ended March 2013 & March 2014.

9. Contingent Liabilities:

Particulars 31.03.2014 31.03.2013 (in Rs.) (in Rs.)

Claims against the company not acknowledged as debts

Service Tax

- October 2004 to September 2007 19,30,27,340 19,30,27,340 (inclusive of penalty of Rs.10 crore)

- October 2007 to September 2010 4,68,55,299 4,68,55,299 (excluding penalty)

- October 2010 to September 2012 3,60,84,169 --- (including of penalty of Rs.10 lacs)

Sales Tax

- April 2001 to March 2006 48,40,18,098 48,40,18,098 (including of penalty of Rs.29,04,10,859)

Service Tax:

Service tax demand was contested before CESTAT, Chennai and a stay was granted without any pre-deposit condition for the period October 2004 to September 2010. In respect of service tax demand of similar nature for the period October 2010 to September 2012, an appeal will be filed before CESTAT.

Sales Tax:

Hon''ble High Court of Madras granted interim stay order against sales tax demand for the period 2001 - 02 to 2004 - 05 and partially for the year 2005 - 06 as prayed by the Company. Company has filed an appeal before Appellate Deputy Commissioner (CT) III, Chennai for the part of the disputed demand for the year 2005 - 06 amounting to Rs.2,28,60,665/-not covered under the stay order of Hon''ble High Court and as a condition have deposited a sum of Rs.50,10,401/-and also furnished personal bond by Chairperson & Managing Director for Rs. 1,78,50,265/- for stay of collection of tax.

In the above referred cases, Management firmly believes that its stand is likely to be upheld in the appellate process.

10 Figures of Previous year have been re-grouped and re-classified, wherever necessary to conform to those of the current year.

11 Figures have been rounded off to the nearest rupee.

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Mar 31, 2013

1.1. investments:

During the year 2010 – 11, Company had entered into a share subscription agreement with Celebrity Cricket League Private Limited (''CCL'') and had invested Rs.75 Lacs accordingly. Subsequently, franchisees have also invested based on share subscription agreement entered with CCL and its shareholders. On account of the said investment by franchisees in CCL, Companies'' shareholding stood at 16.67% as at 31st March 2013.

1.2. subsidiary company in Singapore:

During the year, Company has incorporated a wholly owned subsidiary company – Radaan Media Ventures Pte Limited in Singapore to engage in media & entertainment activities. However, company has not remitted the share subscription of 1 Sing Dollar, which will be remitted along with other investment requirements at the time of commencement of its commercial operations and hence, fnancial statements are not consolidated.

1.3. The Company had entered into leasehold agreements with Managing Director for acquiring leasehold rights for a period of 20 years in respect of properties at No.8 & 10, Paul Appasamy Street, Chennai - 17.

The consideration for lease deposit was Rs. 200 Lakhs out of which a sum of Rs. 75 Lakhs was discharged by way of allotment of 7,50,000 equity shares of Rs. 10/- each as fully paid and out of the remaining deposit the sum of Rs.125 lacs was discharged in the form of cash. The registration formalities in respect of lease agreements are yet to be completed.

As per Accounting Standard 19 - Leases, issued by Institute of Chartered Accountants of India, the Operating Lease entered into by the Company is given below:

a. The total of future minimum lease payments under non-cancellable operating leases for each of the following periods;

(i) Not later than one year – Rs.18,00,000

(ii) Later than one year and not later than five years – Rs.72,00,000

(iii) Later than fve years – Rs.42,00,000 (up to July 2020)

b. The total of future minimum sublease payments expected to be received under non-cancellable subleases at the balance sheet date – NIL

c. Lease payments recognized in the statement of profit and loss for the period, with separate amounts for minimum lease payments and contingent rents – Rs. 18,00,000/- d. Sub-lease payments received (or receivable) recognized in the statement of profit and loss for the period – NIL

e. A general description of the lessee''s significant leasing arrangements including, but not limited to, the following:

(i) The basis on which contingent rent payments are determined – NIL

(ii) The existence and terms of renewal or purchase options and escalation clauses – Lease for period of 20 years renewable on the basis of completion of 11 months.

(iii) Restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing –

(a) Improvement to be made with the written consent of the Lesser,

(b) In case of vacation by lessee on its own before the expiry of the lease period, the cost of improvement made to leasehold property to be borne by the lessee.

(c) In the case of vacation at instance of the lesser before the expiry of the lease period, the written down value as on date of vacation to be borne by the lesser.

1.4 The company formed a trust named ''Radaan Mediaworks India Limited Employees Group Gratuity Assurance Scheme'' with intent to enter into an approved scheme of group gratuity with Life Insurance Corporation of India and to administer for the benefit of the employees. The gratuity report provided by LIC of India as at 31st March 2013 under AS-15 in respect of gratuity of employees of the Company is given below:

1.5 Leave encashment:

Company has taken an insurance policy with LIC of India for Group Leave Encashment Assurance Scheme for the benefit of employees. The report provided by LIC of India as at 31st March 2013 under AS 15 in respect of Group Leave Encashment of employees of the Company is given below:

1.6. The cost of episodes of tele-serial(s) / tele- film(s) / feature flm(s) in progress or completed and pending telecast / release as on date of Balance Sheet has been considered as Work-in-progress and calculated based on absorption method and the same is valued at cost or market price, whichever is less.

1.7. As per accounting policy d., the value of unsold FCT of Rs.76,97,657 for the current fnancial year is stated under 2.13 ''Inventories'' and the value of unsold FCT accumulated and held for more than 12 months has been classified under 2.12 Non Current Assets. As per accounting policy n. Company has so far written off a sum of Rs.1,21,59,007 which includes write off of Rs.29,28,916 for the F.Y.2012 – 13 held under Non Current Assets.

1.8. segment reporting

The company operates in the area of producing content for tele-serials, events, game shows, etc., apart from producing flms, undertaking distribution activities, theatrical plays and setting up of training course comprise of acting, dance, martial arts, yoga etc., Management believes that it is not practical to provide segment disclosures relating to those costs and expenses as operational activities are intertwined and therefore, it has been decided by the management to report its functional operations under one segment - ''media & entertainment'' with effect from April 1, 2011 and continue to report accordingly.

1.9. There are no dues to small and micro enterprises during the year ended March 2013 & March 2012.

1.10 . contingent Liabilities:

Sl. 31.03.2013 31.03.2012 Particulars No. (in Rs.) (in Rs.)

1 Claims against the company not acknowledged as debts service tax

October 2004 to September 2007 19,30,27,340 19,30,27,340

- (inclusive of penalty of Rs.10 crore)

- October 2007 to September 2010 (excluding penalty) 4,68,55,299 4,68,55,299

sales tax

- April 2001 to March 2006 (including of penalty of 48,40,18,098 48,40,18,098 Rs.29,04,10,859)

service tax:

Service tax demand was contested before CESTAT, Chennai and a stay was granted without any pre-deposit condition for the period October 2004 to September 2007. In respect of service tax demand of similar nature for the period October 2007 to September 2010, an appeal has been fled and pending before CESTAT.

sales tax:

Hon''ble High Court of Madras granted interim stay order against sales tax demand for the period 2001 – 02 to 2004 – 05 and partially for the year 2005 – 06 as prayed by the Company. Company has filed an appeal before Appellate Deputy Commissioner (CT) III, Chennai for the part of the disputed demand for the year 2005 – 06 amounting to Rs.2,28,60,665/- not covered under the stay order of Hon''ble High Court and as a condition have deposited a sum of Rs.50,10,401/-and also furnished personal bond by Chairperson & Managing Director for Rs. 1,78,50,265/- for stay of collection of tax.

1.11. Figures of Previous year have been re-grouped and re-classified, wherever necessary to conform to those of the current year.

1.12 Figures have been rounded off to the nearest rupee.

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Mar 31, 2012

1.1 INVESTMENTS:

a. During the year 2010 - 11, Company had entered into a share subscription agreement for investing Rs. 75 Lacs in Celebrity Cricket League Private Limited ('CCL'). Accordingly, company has invested the balance of Rs. 25 lacs during the current year.

b. During the year, Company transferred its entire shareholding of 429,757 equity shares held in Radaan Talent Factory Private Limited, Sri Lanka, for a consideration of INR 34,08,575/- (SriLankan Rupee 80,00,000/-) and the entire consideration has been repatriated to India resulting in profit on sale of shares of INR 14,49,392.

1.2 The Company had entered into leasehold agreements with Managing Director for acquiring leasehold rights for a period of 20 years in respect of properties at No.8 & 10, Paul Appasamy Street, Chennai - 17.

The consideration for lease deposit was Rs. 200 Lakhs out of which a sum of Rs. 75 Lakhs was discharged by way of allotment of 7,50,000 equity shares of Rs. 10/- each as fully paid and out of the remaining deposit the sum of Rs. 125 lacs was discharged in the form of cash. The registration formalities in respect of lease agreements are yet to be completed.

As per Accounting Standard 19 - Leases, issued by Institute of Chartered Accountants of India, the Operating Lease entered into by the Company is given below:

a. The total of future minimum lease payments under non-cancellable operating leases for each of the following periods;

(i) Not later than one year - Rs. 18,00,000

(ii) Later than one year and not later than five years - Rs. 72,00,000

(iii) Later than five years - Rs. 60,00,000 (upto July 2020)

b. The total of future minimum sublease payments expected to be received under non-cancellable subleases at the balance sheet date - NIL

c. Lease payments recognized in the statement of profit and loss for the period, with separate amounts for minimum lease payments and contingent rents - Rs. 18,00,000/-

d. Sub-lease payments received (or receivable) recognized in the statement of profit and loss for the period - NIL

e. A general description of the lessee's significant leasing arrangements including, but not limited to, the following:

(i) The basis on which contingent rent payments are determined - NIL

(ii) The existence and terms of renewal or purchase options and escalation clauses

- Lease for period of 20 years renewable on the basis of completion of 11 months.

(iii) Restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing -

(a) Improvement to be made with the written consent of the Lessor,

(b) In case of vacation by lessee on its own before the expiry of the lease period, the cost of improvement made to leasehold property to be borne by the lessee.

(c) In the case of vacation at instance of the lessor before the expiry of the lease period, the written down value as on date of vacation to be borne by the lessor.

1.3 The cost of episodes of tele-serial(s)/tele-film(s)/feature film(s) in progress or completed and pending telecast/release as on date of Balance Sheet has been considered as Work-in- progress and calculated based on absorption method and the same is valued at cost or market price, whichever is less.

1.4 As per accounting policy n. provisioning for unsold FCTs, the company has provided a sum of Rs. 92,30,091 which includes provision Rs. 34,35,991 for the F.Y.2011 - 12 towards unsold FCT's held.

1.5 Segment reporting

The company operates in the area of producing content for tele-serials, events, game shows, etc., apart from producing films, undertaking distribution activities, theatrical plays and setting up of acting academy. Management believes that it is not practical to provide segment disclosures relating to those costs and expenses as operational activities are intertwined and therefore, it has been decided by the management to report its functional operations under one segment - 'media & entertainment'- with effect from April 1, 2011.

1.6 There are no dues to small and micro enterprises during the year ended March 2012 & March 2011.

1.7 contingent Liabilities:

Sl. Particulars 31.03.2012 31.03.2011 No. (in Rs.) (in Rs.)

1. Claims against the company not acknowledged as debts Service Tax

- October 2004 to September 2007 (inclusive of penalty of Rs. 10 crore) 19,30,27,340 19,30,27,340

- October 2007 to September 2010 (excluding penalty) 4,68,55,299 -

Sales Tax

- April 2001 to March 2006 (including of penalty of Rs. 29,04,10,859) 48,40,18,098 -

Service tax:

Service tax demand was contested before CESTAT, Chennai and a stay was granted without any pre-deposit condition for the period October 2004 to September 2007. In respect of service tax demand of similar nature for the period October 2007 to September 2010, an appeal has been fled and pending before CESTAT.

Sales tax:

Hon'ble High Court of Madras granted interim stay order against sales tax demand for the period 2001 - 02 to 2004 - 05 and partially for the year 2005 - 06 as prayed by the Company. Company has fled an appeal before Appellate Deputy Commissioner (CT) III, Chennai for the part of the disputed demand for the year 2005 - 06 amounting to Rs. 2,28,60,665/- not covered under the stay order of Hon'ble High Court and as a condition have deposited a sum of Rs. 50,10,401/-and also furnished personal bond by Chairperson & Managing Director for Rs. 1,78,50,265/- for stay of collection of tax.

1.8 The Confirmation of Balances of Debtors & Creditors is yet to be received in some cases.

1.9 Figures of Previous year have been re-grouped and re-classified, wherever necessary to conform to those of the current year.

1.10 Figures have been rounded off to the nearest rupee.

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Mar 31, 2011

1. The Company had entered into leasehold agreements with Managing Director for acquiring leasehold rights for a period of 20 years in respect of properties at No.8 & 10, Paul Appasamy Street, Chennai -17.

The consideration for lease deposit was Rs. 200 Lakhs out of which a sum of Rs. 75 Lakhs was discharged by way of allotment of 7,50,000 equity shares of Rs. 10/- each as fully paid and out of the remaining deposit the sum of Rs.117.50 lacs was discharged in the form of cash and the balance of Rs.7.50 lacs is still remains unpaid. The registration formalities in respect of lease agreements are yet to be completed.

As per Accounting Standard 19 - Leases, issued by Institute of Chartered Accountants of India, the operating lease entered into by the Company is given below:

a) The total of future minimum lease payments under non-cancellable operating leases for each of the following periods;

(i)) Not later than one year- Rs. 18,00,000

(ii)) Later than one year and not later than five years - Rs.72,00,000

(iii) Later than five years - Rs.78,00,000 (upto July 2020)

b) The total of future minimum sub-lease payments expected to be received under non-cancellable sub-leases at the balance sheet date - NIL

c) Lease payments recognized in the statement of profit and loss for the period, with separate amounts for minimum lease payments and contingent rents - Rs. 18,00,000/-

d) Sub-lease payments received (or receivable) recognized in the statement of profit and loss for the period - NIL

e) A general description of the lessee's significant leasing arrangements including, but not limited to, the following:

(i)) The basis on which contingent rent payments are determined - NIL

(ii)) The existence and terms of renewal or purchase options and escalation clauses

- Lease for period of 20 years renewable on the basis of completion of 11 months.

(iii) Restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing -

(a) Improvement to be made with the written consent of the Lessor,

(b) In case of vacation by lessee on its own before the expiry of the lease period, the cost of improvement made to leasehold property to be borne by the lessee.

(c) In the case of vacation at instance of the lessor before the expiry of the lease period, the written down value as on date of vacation to be borne by the lessor.

2. The cost of episodes of tele-serial(s) / tele-fiim(s) / feature film(s), those are in progress or completed and pending telecast / release as on date of Balance Sheet has been considered as Work-in-progress and calculated based on absorption method and the same is valued at cost or market price, whichever is less.

3. There are no dues to small-scale industries.

4. Managerial Remuneration:

The overall managerial remuneration is within maximum ceiling limit laid down pursuant to section 198,269,309 & 310 read with schedule XIII, Part II, Section II of the Companies Act, 1956.

5. As a consequence of introduction of accounting policy n.- provisioning for unsold FCTs, the company has provided a sum of Rs.30.32 lacs for FY 2010-11 for current year towards unsold FCTs held.

6. Investments:

During the year, Company had entered into a share subscription agreement for investing Rs.75 Lacs in Celebrity Cricket League Private Limited, India towards 25% ownership interest therein. As on 31.03.2011, company has invested a sum of Rs.50 lacs.

Company continue to report investment made in Joint Venture - Radaan Talent Factory Private Limited, Sri Lanka in accordance with AS - 13 - Accounting for investments as significant influence and joint control do not exist during the financial year.

7. Segment Reporting

The Company operates in two Business Segments:

- Production of Tele-serial/Game show and

- Production of Feature Films

8. Related Parties Disclosure:

As per the Accounting Standard 18 - Related Party Disclosures issued by the Institute of Chartered Accountants of India, the Company's related parties and transactions are listed below:

9. The company formed a trust named 'Radaan Mediaworks India Limited Employees Group Gratuity Assurance Scheme' with intent to enter into an approved scheme of group gratuity with Life Insurance Corporation of India and to administer for the benefit of the employees as against provisioning the liability as per Actuarial Valuation report during earlier years. The gratuity report provided by LIC of India as at 31 st March 2011 under AS-15 in respect of gratuity of employees of the Company is given below:

15. Licensed and Installed capacity - Not Applicable

31.03.2011 31.03.2010

16. Earnings in Foreign Currency - United States $ 2,84,764 United States $1,08,323 Equivalent to Equivalent to Rs. 1,29,97,570 Rs.51,10,379

Expenditure in Foreign Currency - United States $ 57,787 United States $ 400

Malaysian Ringgits 8,000 Malaysian Ringgits 2,000

Equivalent to Equivalent to

Rs.26,95,804 Rs.46,210

17. The Confirmation of Balances of Debtors & Creditors is yet to be received in some cases.

18. Figures of Previous year have been re-grouped and re-classified, wherever necessary to conform to those of the current year.

19. Figures have been rounded off to the nearest rupee.

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Mar 31, 2010

1. The Company had entered into leasehold agreements with Managing Director for acquiring leasehold rights for a period of 20 years in respect of properties at No.8 & 10, Paul Appasamy Street, Chennai - 17.

The consideration for lease deposit was Rs. 200 Lakhs out of which a sum of Rs. 75 Lakhs was discharged by way of allotment of 7,50,000 equity shares of Rs. 10/- each (since sub-divided) as fully paid and out of the remaining deposit the sum of Rs.117.50 lacs was discharged in the form of cash and the balance of Rs.7.50 lacs is still remains unpaid. The registration formalities in respect of lease agreements are yet to be completed.

As per Accounting Standard 19 - Leases, issued by Institute of Chartered Accountants of India, the Operating Lease entered into by the Company is given below:

a) The total of future minimum lease payments under non-cancellable operating leases for each of the following periods; (i) Not later than one year – Rs.18,00,000

(iii) Later than one year and not later than fve years – Rs.72,00,000 (iii) Later than fve years – Rs.96,00,000 (upto july 2020)

b) The total of future minimum sublease payments expected to be received under non-cancellable subleases at the balance sheet date - NIL

c) Lease payments recognized in the statement of profit and loss for the period, with separate amounts for minimum lease payments and contingent rents - Rs. 18,00,000/-

d) Sub-lease payments received (or receivable) recognized in the statement of profit and loss for the period – NIL

e) A general description of the lessees significant leasing arrangements including, but not limited to, the following:

(i) The basis on which contingent rent payments are determined – NIL

(ii) The existence and terms of renewal or purchase options and escalation clauses - Lease for period of 20 years renewable on the basis of completion of 11 months.

(iii) Restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing -

(a) Improvement to be made with the written consent of the Lessor,

(b) In case of vacation by lessee on its own before the expiry of the lease period, the cost of improvement made to lease- hold property to be borne by the lessee.

(c) In the case of vacation at instance of the lessor before the expiry of the lease period, the written down value as on date of vacation to be borne by the lessor.

2. The cost of episodes of tele-serial(s) / tele-flm(s) / feature flm(s) are in progress or completed and pending telecast / release as on date of Balance Sheet has been considered as Work-in-progress and calculated based on absorption method and the same is valued at cost.

3. There are no dues to small-scale industries.

4. As a consequence of introduction of accounting policy no - n. provisioning for unsold FCTs, the company has provided a sum of Rs.27.62 lacs towards unsold FCTs held.

5. The interest & finance charges of Rs. 92.86 lacs incurred during the year have been charged in full to the profit & loss account.

6. During the year, Tamil feature flm ‘Jaggubhai co-produced with Zee Entertainment Enterprises Limited ("Zeel") as sole and exclusive holder of marketing rights of the flm completed the production and ‘Zeel released the flm. The companys share of cost of production of Rs.712.10 lacs (net of Rs.661 lacs reimbursed by Zeel) is fully charged to the profit & loss account. The revenue sharing income, if any, will be recognized on the receipt basis.

7. Licensed and Installed capacity - Not Applicable

8. Earnings in Foreign Currency - United States $ 1,08,323 United States $1,27,336

Equivalent to Equivalent to

Rs.51,10,379 Rs.56,89,395

Expenditure in Foreign Currency - United States $ 400 United States $ 1,16,500 Malaysian Ringgits 2,000 Australian $ 1,13,000

Aggregating Equivalent to Malaysian Ringgits 92,250

Rs.46,210 Thai Baht 2,27,38,540

Aggregating Equivalent to Rs.4,03,13,422

9. The Confrmation of Balances of Debtors & Creditors is yet to be received in some cases.

10. Figures of Previous year have been re-grouped and re-classified, wherever necessary to conform to those of the current year.

11. Figures have been rounded off to the nearest rupee.