Notes to Accounts of Sahara One Media & Entertainment Ltd.

Mar 31, 2024

i) Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result
of a past event, it is probable that an outflow of resources embodying economic benefits will be required to
settle the obligation and a reliable estimate can be made of the amount of the obligation.

If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate
that reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in
the provision due to the passage of time is recognised as a finance cost.

j) Employee Benefits Expense
Short Term Employee Benefits

The undiscounted amount of short-term employee benefits expected to be paid in exchange for the
services rendered by employees are recognised as an expense during the period when the employees
render the services.

Post-Employment Benefits
Defined Contribution Plans

A defined contribution plan is a post-employment benefit plan under which the Company pays specified
contributions to a separate entity. The Company makes specified monthly contributions towards Provident
Fund, Superannuation Fund and Pension Scheme. The Company''s contribution is recognised as an
expense in the Statement of Profit and Loss during the period in which the employee renders the related
service.

Defined Benefit Plans

The Company pays gratuity to the employees whoever has completed five years of service with the
Company at the time of resignation/superannuation. The gratuity is paid @15 days salary for every
completed year of service as per the Payment of Gratuity Act 1972.

The Company is not contributing amount towards gratuity liability to the any approved gratuity fund formed
exclusively for gratuity payment to the employees, after dissolution of Sahara Group gratuity fund trust.
The gratuity liability is currently unfunded.

The liability in respect of gratuity and other post-employment benefits is calculated using the Projected
Unit Credit Method and spread over the period during which the benefit is expected to be derived from
employees'' services.

Re-measurement of defined benefit plans in respect of post-employment are charged to the Other
Comprehensive Income.

k) Tax Expenses

The tax expense for the period comprises current and deferred tax. Tax is recognised in Statement of Profit
and Loss, except to the extent that it relates to items recognised in the comprehensive income or in equity.
In which case, the tax is also recognised in other comprehensive income or equity.

- Current tax

Current tax assets and liabilities are measured at the amount expected to be recovered from or paid to the
taxation authorities, based on tax rates and laws that are enacted or substantively enacted at the Balance
sheet date.

- Deferred tax

Deferred tax is recognised on temporary differences between the carrying amounts of assets and
liabilities in the financial statements and the corresponding tax bases used in the computation of taxable
profit.

Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in
which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted
or substantively enacted by the end of the reporting period. The carrying amount of Deferred tax liabilities
and assets are reviewed at the end of each reporting period.

l) Foreign currencies transactions and translation

Transactions in foreign currencies are recorded at the exchange rate prevailing on the date of transaction.
Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency
closing rates of exchange at the reporting date.

Exchange differences arising on settlement or translation of monetary items are recognised in Statement
of Profit and Loss except to the extent of exchange differences which are regarded as an adjustment to
interest costs on foreign currency borrowings that are directly attributable to the acquisition or construction
of qualifying assets, are capitalized as cost of assets.

Non-monetary items that are measured in terms of historical cost in a foreign currency are recorded using
the exchange rates at the date of the transaction. Non-monetary items measured at fair value in a foreign
currency are translated using the exchange rates at the date when the fair value was measured. The gain
or loss arising on translation of non-monetary items measured at fair value is treated in line with the
recognition of the gain or loss on the change in fair value of the item (i.e., translation differences on items
whose fair value gain or loss is recognised in OCI or Statement of Profit and Loss are also recognised in
OCI or Statement of Profit and Loss, respectively).

m) Revenue recognition

Revenue from sale of goods/services is recognised when the significant risks and rewards of ownership
have been transferred to the buyer, recovery of the consideration is probable, the associated cost can be
estimated reliably, there is no continuing effective control or managerial involvement with the goods, and
the amount of revenue can be measured reliably.

Revenue from rendering of services is recognised when the performance of agreed contractual task has
been completed.

Revenue from sale of goods is measured at the fair value of the consideration received or receivable,
taking into account contractually defined terms of payment and excluding taxes or duties collected on
behalf of the government.

Revenue from operations includes sale of goods, services, service tax, excise duty and adjusted for
discounts (net), and gain/ loss on corresponding hedge contracts.

Interest income

Interest income from a financial asset is recognised using effective interest rate method.

Dividends

Revenue is recognised when the Company''s right to receive the payment has been established.

n) Financial instruments
i) Financial Assets

A. Initial recognition and measurement

All financial assets and liabilities are initially recognized at fair value. Transaction costs that are directly
attributable to the acquisition or issue of financial assets and financial liabilities, which are not at fair value
through profit or loss, are adjusted to the fair value on initial recognition. Purchase and sale of financial
assets are recognised using trade date accounting.

B. Subsequent measurement

a) Financial assets carried at amortised cost (AC)

A financial asset is measured at amortised cost if it is held within a business model whose objective is to
hold the asset in order to collect contractual cash flows and the contractual terms of the financial asset give
rise on specified dates to cash flows that are solely payments of principal and interest on the principal
amount outstanding.

b) Financial assets at fair value through other comprehensive income (FVTOCI)

A financial asset is measured at FVTOCI if it is held within a business model whose objective is achieved
by both collecting contractual cash flows and selling financial assets and the contractual terms of the
financial asset give rise on specified dates to cash flows that are solely payments of principal and interest
on the principal amount outstanding.

c) Financial assets at fair value through profit or loss (FVTPL)

A financial asset which is not classified in any of the above categories are measured at FVTPL.

C. Investment in subsidiaries

The Company has accounted for its investments in subsidiaries.

D. Other Equity Investments

All other equity investments are measured at fair value, with value changes recognised in Statement of
Profit and Loss, except for those equity investments for which the Company has elected to present the
value changes in ‘Other Comprehensive Income''.

Non-monetary items that are measured in terms of historical cost in a foreign currency are recorded using
the exchange rates at the date of the transaction. Non-monetary items measured at fair value in a foreign
currency are translated using the exchange rates at the date when the fair value was measured. The gain
or loss arising on translation of non-monetary items measured at fair value is treated in line with the
recognition of the gain or loss on the change in fair value of the item (i.e., translation differences on items
whose fair value gain or loss is recognised in OCI or Statement of Profit and Loss are also recognised in
OCI or Statement of Profit and Loss, respectively).

E. Impairment of financial assets

In accordance with Ind AS 109, the Company uses ‘Expected Credit Loss'' (ECL) model, for evaluating
impairment of financial assets other than those measured at fair value through profit and loss (FVTPL).

Expected credit losses are measured through a loss allowance at an amount equal to:

The 12-months expected credit losses (expected credit losses that result from those default events on the
financial instrument that are possible within 12 months after the reporting date); or

Full lifetime expected credit losses (expected credit losses that result from all possible default events over
the life of the financial instrument)

For trade receivables Company applies ‘simplified approach'' which requires expected lifetime losses to
be recognised from initial recognition of the receivables. The Company uses historical default rates to
determine impairment loss on the portfolio of trade receivables. At every reporting date these historical
default rates are reviewed and changes in the forward looking estimates are analyzed.

For other assets, the Company uses 12-month ECL to provide for impairment loss where there is no
significant increase in credit risk. If there is significant increase in credit risk full lifetime ECL is used.

ii) Financial liabilities

A. Initial recognition and measurement

All financial liabilities are recognized at fair value and in case of loans, net of directly attributable cost. Fees
of recurring nature are directly recognised in the Statement of Profit and Loss as finance cost.

B. Subsequent measurement

Financial liabilities are carried at amortized cost using the effective interest method. For trade and other
payables maturing within one year from the balance sheet date, the carrying amounts approximate fair
value due to the short maturity of these instrument.

o) Segmental Reporting Policies

Revenue and expenses are identified to segments on the basis of their relationship to the operating
activities of the segments. Revenue and expenses, which relate to the enterprise as a whole and are not
allocable to segments on a reasonable basis, are included under the head “Other”.

p) Earnings Per Share

Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity
by the weighted average number of equity shares outstanding during the period.

For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to
equity shareholders and the weighted average number of shares outstanding during the period are
adjusted for the effects of all dilutive potential equity shares.

q) Contingent liabilities

A contingent liability is a possible obligation that arises from past events whose existence will be confirmed
by the occurrence or non-occurrence of one or more uncertain future events beyond the control of the
company or a present obligation that is not recognized because it is not probable that an outflow of
resources will be required to settle the obligation. A contingent liability also arises in extremely rare cases
where there is a liability that cannot be recognized because it cannot be measured reliably. The company
does not recognize a contingent liability but discloses its existence in the financial statements.

r) Cash and Cash equivalents

Cash and cash equivalents in the cash flow statement comprise cash at bank and in hand and short-term
investments with an original maturity of three months or less.

s) Exceptions to retrospective application of other Ind AS

i) Estimates

An entity''s estimates in accordance with Ind AS at the date of transition to Ind AS shall be consistent
with estimates made for the same date in accordance with Previous GAAP (after adjustments to
reflect any difference in accounting policies), unless there is objective evidence that those
estimates were in error. The company has not made any changes to estimates made in accordance
with Previous GAAP.

ii) Ind AS 109- Financial Instruments (Classification and measurement of financial asset)

Classification and measurement of financial assets shall be made on the basis of facts and
circumstances that exist at the date of transition to Ind AS.

iii) Deemed cost for Property, Plant & Equipment (PPE):

Company has availed exemption under para D7AA of the Appendix D to Ind-AS 101 Which permits
as first-time adopter to continue with the carrying values for its PPE as at date of transition to Ind-AS
measured as per previous GAAP.

iv) The Company has elected to measure investment in subsidiaries at cost.

Revenue and expenses are identified to segments on the basis of their relationship to the operating
activities of the segments. Revenue and expenses, which relate to the enterprise as a whole and
are not allocable to segments on a reasonable basis, are included under the head “Other”.

23. Gratuity and other post-employment benefit plans:

The Company has a defined benefit gratuity plan. Every employee who has completed five years or more
of service gets a gratuity on departure at 15 days salary (last drawn salary) for each completed year of
service.

The following tables summarize the components of net benefit expense recognized in the statement of
profit and loss and amounts recognized in the balance sheet for the respective plans. The liability is not
funded.

Statement of profit and loss

Net employee benefit expense recognized in the employee cost

The Company is contesting the demands and the management, including its tax advisors, believe that its position will
likely be upheld in the appellate process. No tax expense has been accrued in the financial statements for the tax
demand raised. The management believes that the ultimate outcome of this proceeding will not have a material
adverse effect on the company''s financial position and results of operations.

In the Opinion of the Board of Directors, any of the assets other than fixed assets and non-current investments are
approximately of the value stated if realized in the ordinary course of the business. The provisions for all known
liabilities have adequately been made and are not in excess of the amounts reasonably necessary. There is no
contingent liability other than those stated above.

29. In the matter of dispute in respect of repayment of Optionally Fully Convertible Debentures (OFCDs) by two
group companies, namely M/s Sahara India Real Corporation Limited & Sahara Housing Investment
Corporation Limited, the Hon’ble Supreme Court of India vide its order dated 21-11-2013 had directed that
Sahara Group of Companies shall not part with movable and immovable properties and accordingly Security and
Exchange Board of India (SEBI) has seized the company’s fixed deposit and Non-current investment.
Subsequent to this, Hon’ble Supreme Court vide its order dated 4th June, 2014 has directed to defreeze the fixed
deposit account of the company subject to condition that total proceeds would be transferred to special account
opened by the SEBI. Accordingly, the company has transferred an amount of Rs. (''000) 694,027.88 to Sahara-
SEBI refund account. However, the company’s management strongly believes that the money deposited is
recoverable and will be received back along with interest, as the amount in Sahara - SEBI refund account is in the
shape of fixed deposit. However, the company has not accrued any interest on this amount.

31. Details of dues to micro and small enterprises as defined under the Micro, Small and Medium
Enterprises (MSMED) Act, 2006

As per the information available with the Company, no amounts are due to Micro, Small and Medium Enterprises
as per MSMED Act, 2006 as at 31 March 2024. (31 March 2023: Nil)

32. Deferred tax assets on accumulated losses have not been recognised as there is no virtual certainty of
sufficient taxable income in future.

33. a) Expenditure in foreign currency (accrual basis) - Nil
b) Earnings in foreign currency (accrual basis) - Nil

34 . Fair Value Measurements

‘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 in the principal or, in its absence, the most advantageous
market to which the Company has access at that date. The fair value of a liability reflects its non-performance risk. The
best evidence of the fair value of a financial instrument on initial recognition is normally the transaction price - i.e. the
fair value of the consideration given or received.

i) Fair Value hierarchy of financial assets and liabilities

This section explains the judgements and estimates made in determining the fair value of the financial instruments
that are (a) recognised and measured fair value and (b) measured at amortised cost and for which fair values are
disclosed in the financial statements. To provide an indication about the reliability of the inputs used in determining fair
value, the company has classified its financial instruments into the three levels prescribed under the accounting
standard. An explanation of each level follows underneath the table.

The carrying value of current trade receivables, cash and cash equivalents, current loans, trade payables and other
financial assets and liabilities are considered to be the same as their fair values due to their short-term nature. The fair
value of financial instruments as referred to in note above have been classified into three categories depending on the
inputs used in valuation technique. The hierarchy gives highest priority to quoted prices in active market for identical
assets or liabilities (Level 1 measurement) and lowest priority to unobservable inputs (Level 3 measurement).

The categories used are as follows:

Level-1 Hierarchy includes financial instruments measured using quoted price.

Level-2 The fair value of financial instruments that are not traded in an active market is determined using valuation
technique which maximise the use of observable market data and rely as little as possible on entity-specific estimates.
If all significant inputs required to fair value an instrument are observable, the instrument is included in Level-2.

Level -3 If one or more of the significant inputs is not based on observable market data, the instrument is included in
level 3.

ii) Valuation technique used to determine fair value

Specific valuation technique used to value financial instruments include:

1) The mutual funds are valued using closing NAV available in the market.

2) Valuation technique and key input of Equity Shares - unquoted (Fair value hierarchy-3): Net asset value
based on latest financial statements of the company.

35. Financial Risk Management
Risk management framework

The Company’s activities expose it to a variety of financial risks, including market risk, credit risk and liquidity risk. The
Company’s primary risk management focus is to minimize potential adverse effects of market risk on its financial
performance. The Company’s risk management assessment and policies and processes are established to identify
and analyse the risks faced by the Company, to set appropriate risk limits and controls, and to monitor such risks and
compliance with the same. Risk assessment and management policies and processes are reviewed regularly to
reflect changes in market conditions and the Company’s activities. The Board of Directors and the management is
responsible for overseeing the Company’s risk assessment and management policies and processes.

(A) Credit Risk

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

i) Credit Risk Management -
Financial instruments and cash deposits

The Company maintains exposure in cash and cash equivalents, term deposits with banks and investments in mutual
funds. The credit worthiness of such banks and financial institutions is evaluated by the management on an ongoing
basis and is considered to be good. As a practice, the company only invests with high rated banks/ institutions. The
Company’s maximum exposure to credit risk as at March 31,2024 and March 31,2023 is the carrying value of each
class of financial assets as disclosed in note 5 and note 9.

Security deposits given to lessors

The Company has given security deposit to lessors for premises leased by it as at March 31, 2024 and March 31,
2023. The credit worthiness of such lessors is evaluated by the management on an ongoing basis and is considered to
be good.

Trade receivables

Trade receivables are typically unsecured and are derived from revenue earned from customers. Credit risk has been
managed by the Company through credit approvals, establishing credit limits and continuously monitoring the
creditworthiness of customers to which the Company grants credit terms in the normal course of business. Exposures
to customers outstanding at the end of each reporting period are reviewed by the Company to determine incurred and
expected credit losses. Historical trends of impairment of trade receivables do not reflect any significant credit losses.
Given that the macroeconomic indicators affecting customers of the Company have not undergone any substantial
change, the Company expects the historical trend of minimal credit losses to continue.

(B) Liquidity Risk

Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they become due. The
responsibility for liquidity risk management rests with the Board of directors, which has an appropriate liquidity risk
management framework for the management of the Company’s short-, medium- and long-term funding and liquidity
management requirements. The Company manages liquidity risk by maintaining adequate reserves, banking
facilities by regularly monitoring forecast and actual cash flows.

(C) Market Risk

Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes
in market prices. Market risk comprises three types of risk: currency risk, interest rate risk and other price risk such as
equity price risk. The objective of market risk management is to manage and control market risk exposures within
acceptable parameters, while optimising the return.

Foreign currency risk exposure: The Company does not have any exposure to foreign currency risk as at March 31,
2024 (Previous year Nil).

Interest rate risk: The Company does not have any borrowings and is thus not exposed to interest rate risk as at
March 31,2024 (Previous year Nil).

Price risk: The Company’s exposure to investments arises from investment held by the company in mutual funds and
classified in the balance sheet as fair value through profit or loss. Investments in equity shares of subsidiaries are held
for strategic purpose and are not trading in nature.

37. Other Statutory Information

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

(ii) Title deed of immovable properties are held in the name of the company.

(iii) The company has not undertaken any revaluation of its property, plants or equipment during the year.
Thus, no disclosure requirement is there under this clause.

(iv) The company is not a wilful defaulter as company has not taken any loan form any bank or financial
institutions or any other lender.

(v) The company is not covered under section 135 of Companies Act. Thus, no disclosure requirements are
there under this clause.

(vi) The Company have following transactions with companies struck off under section 248 of the Companies
Act, 2013 or section 560 of Companies Act, 1956

(vii) The Company do not have any charges or satisfaction which is yet to be registered with ROC beyond the
statutory period,

(viii) The Company have not traded or invested in Crypto currency or Virtual Currency during the financial year.

(ix) The Company have not advanced or loaned or invested funds to any other person(s) or entity(ies),
including foreign entities (Intermediaries) with the understanding that the Intermediary shall:

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on
behalf of the company (Ultimate Beneficiaries) or

(b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries

(x) The Company have not received any fund from any person(s) or entity(ies), including foreign entities
(Funding Party) with the understanding (whether recorded in writing or otherwise) that the Company shall:

(a) Directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on
behalf of the Funding Party (Ultimate Beneficiaries) or

(b) Provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries,

(xi) The Company does have not any such transaction which is not recorded in the books of accounts that has
been surrendered or disclosed as income during the year in the tax assessments under the Income Tax
Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961.

38. Previous year’s figures have been regrouped where necessary to conform to this year’s classification.

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

Sahara One Media and Entertainment Limited

For Gupta Rustagi & Co. A. K. Srivastava Rana Zia

Firm Registration No. 128701W Director Whole Time Director

^{Chartered Accountants} DIN- 02323304 DIN - 07083262

Niraj Gupta P. C. Tripathy Apoorva Gupta

^Partner Chief Financial Officer Company Secretary

Membership No. 100808

Lucknow: May 29, 2024

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Mar 31, 2018

1. Corporate information

Sahara One Media And Entertainment Limited is a public company domiciled in India and incorporated under the provisions of the Companies Act, 1956. The company is a television content provider and also produces and distributes films.

2. Basis of preparation and presentation

The financial statements have been prepared on the historical cost basis except for following assets and liabilities which have been measured at fair value amount:

i) Certain financial assets and liabilities,

ii) Defined benefit plans - plan assets and

The financial statements of the Company have been prepared to comply with the Indian Accounting standards (''Ind AS''), including the rules notified under the relevant provisions of the Companies Act, 2013.

Upto the year ended March 31, 2017, the Company has prepared its financial statements in accordance with the requirement of Indian Generally Accepted Accounting Principles (GAAP), which includes Standards notified under the Companies (Accounting Standards) Rules, 2006 and considered as "Previous GAAP".

These financial statements are the Company''s first Ind AS standalone financial statements.

Company''s financial statements are presented in Indian Rupees (''000), which is also its functional currency.

*Hon''ble Supreme Court vide it''s order dated 4th June, 2014 has directed to defreeze the Fixed Deposit account of the company subject to condition that total proceeds would be transferred to special account opened by the SEBI. Accordingly, the company has transferred an amount of Rs 694,027,883 to Sahara-SEBI Refund account. (refer note 30 for details)

(b) Terms/ rights attached to equity shares

The Company has only one class of equity shares having par value of Rs.10 per share. Each holder of equity shares is entitled to one vote per share.

During the year ended 31 March 2018, the amount of per share dividend recognized as distributions to equity shareholders was Nil (31 March 2017: Nil).

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

As per records of the company, including its register of shareholders/ members and other declarations received from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownerships of shares.

3. Gratuity and other post-employment benefit plans:

The Company has a defined benefit gratuity plan. Every employee who has completed five years or more of service gets a gratuity on departure at 15 days salary (last drawn salary) for each completed year of service.

The following tables summarize the components of net benefit expense recognized in the statement of profit and loss and amounts recognized in the balance sheet for the respective plans. The liability is not funded.

**The above liability pertains to continuing employees and liability of Rs. (''000) 3616.06 pertaining to transferred employees has been shown in note 13 under caption “provision for gratuity of transferred employees”.

The estimates of future salary increases, considered in actuarial valuation, take account of inflation, seniority, promotion and other relevant factors, such as supply and demand in the employment market.

Discontinuance Liability

Amount payable upon discontinuance of all employment is for gratuity Rs. (''000) 993.64 and for leave encashment Rs. (''000) 99.37

4. Leases

Operating lease: company as lessee

The Company has entered into operating cancellable lease agreements for its office premises/ Go down for a period of 3-5 years. There are no clauses relating to renewal / escalation. There are no subleases. The lease rental charged during the year is as follows:

5. Segmental Information:

Business Segments:

The Company operating businesses are organized and managed separately according to the nature of services provided, with each segment representing a strategic business unit that serves different markets. The Company principal business is sale of television programmes and motion pictures production and distribution.

The remuneration to the key managerial personnel does not include the provisions made for gratuity and leave benefits, as they are determined on an actuarial basis for the Company as a whole.

6. Capital and other commitments

Estimated amount of contracts remaining to be executed on capital account and not provided for, are Rs. Nil (31 March 2017: Rs. Nil)

The Company is contesting the demands and the management, including its tax advisors, believe that its position will likely be upheld in the appellate process. No tax expense has been accrued in the financial statements for the tax demand raised. The management believes that the ultimate outcome of this proceeding will not have a material adverse effect on the company''s financial position and results of operations.

In the Opinion of the Board of Directors, any of the assets other than fixed assets and non-current investments are approximately of the value stated if realized in the ordinary course of the business. The provisions for all known liabilities have adequately been made and are not in excess of the amounts reasonably necessary. There is no contingent liability other than those stated above.

7.In the matter of dispute in respect of repayment of Optionally Fully Convertible Debentures (OFCDs) by two group companies, namely M/s Sahara India Real Corporation Limited & Sahara Housing Investment Corporation Limited, the Hon''ble Supreme Court of India vide its order dated 21-11-2013 had directed that Sahara Group of Companies shall not part with movable and immovable properties and accordingly Security and Exchange Board of India (SEBI) has seized the company''s fixed deposit and Non-current investment. Subsequent to this, Hon''ble Supreme Court vide it''s order dated 4th June, 2014 has directed to defreeze the fixed deposit account of the company subject to condition that total proceeds would be transferred to special account opened by the SEBI. Accordingly, the company has transferred an amount of Rs. (''000) 694,027.88 to Sahara-SEBI refund account. However, the company''s management strongly believes that the money deposited is recoverable and will be received back along with interest, as the amount in Sahara - SEBI refund account is in the shape of fixed deposit. However, the company has not accrued any interest on this amount.

8. Details of dues to micro and small enterprises as defined under the Micro, Small and Medium Enterprises(MSMED) Act, 2006

As per the information available with the Company, no amounts are due to Micro, Small and Medium Enterprises as per MSMED Act, 2006 as at 31 March 2018. (31 March 2017: Nil)

36 First time adoption of Ind AS

a) Explanation of transition to Ind AS

These are the Company''s first financial statements prepared in accordance with Ind AS.

The accounting policies have been applied consistently in preparing the financial statements for the year ended 31 March 2018, the comparative information presented in these financial statements for the year ended 31 March 2017 and in the preparation of an opening Ind AS balance sheet at 1 April 2016 (the Company''s date of transition). An explanation of how the transition from financial statements prepared in accordance with accounting standards notified under the Section 133 of the Act, read together with paragraph 7 of the Companies (Accounts) Rules, 2014 (Previous GAAP) to Ind AS has affected the Company''s financial position, financial performance and cash flows is set-out in the following tables and notes:

A) The previous GAAP figures have been reclassified to confirm to Ind As presentation requirement for the purpose of this note.

B) This column include the impact on account of change with respect to transition to Ind AS for the first time."" ii) Reconciliation of total comprehensive income for the year ended 31 March 2017.

9. Previous year''s figures have been regrouped where necessary to conform to this year''s classification.

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Mar 31, 2016

(b) Terms/ rights attached to equity shares

The Company has only one class of equity shares having par value of Rs.10 per share. Each holder of equity shares is entitled to one vote per share.

During the year ended 31 March 2016, the amount of per share dividend recognized as distributions to equity shareholders was Nil (31 March 2015: Nil).

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

As per records of the company, including its register of shareholders/ members and other declarations received from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownerships of shares.

1. Gratuity and other post-employment benefit plans:

The Company has a defined benefit gratuity plan. Every employee who has completed five years or more of service gets a gratuity on departure at 15 days salary (last drawn salary) for each completed year of service.

The following tables summarize the components of net benefit expense recognized in the statement of profit and loss and the funded status and amounts recognized in the balance sheet for the respective plans.

The expected rate of return on assets is taken on the basis of LIC rate and RBI Deep Discounting Rate.

The estimates of future salary increases, considered in actuarial valuation, take account of inflation, seniority, promotion and other relevant factors, such as supply and demand in the employment market.

Related party transactions

The following table provides the total amount of transactions that have been entered into with related parties for the relevant financial year:

* Includes amount paid before Shri Boney Kapoor became a director of the Company.

^{^} Shri Boney Kapoor has resigned from the Directorship w.e.f 14.11.2015.

The remuneration to the key managerial personnel does not include the provisions made for gratuity and leave benefits, as they are determined on an actuarial basis for the Company as a whole.

2. Capital and other commitments

Estimated amount of contracts remaining to be executed on capital account and not provided for, are Rs. Nil (31 March 2015: Rs. Nil)

The Company is contesting the demands and the management, including its tax advisors, believe that its position will likely be upheld in the appellate process. No tax expense has been accrued in the financial statements for the tax demand raised. The management believes that the ultimate outcome of this proceeding will not have a material adverse effect on the company’s financial position and results of operations.

3. In the matter of dispute in respect of repayment of Optionally Fully Convertible Debentures (OFCDs) by two group companies, namely M/s Sahara India Real Corporation Limited & Sahara Housing Investment Corporation Limited, the Hon’ble Supreme Court of India vide its order dated 21-11-2013 had directed that Sahara Group of Companies shall not part with movable and immovable properties and accordingly Security and Exchange Board of India (SEBI) has seized the company’s Fixed Deposit and Non Current Investment. Subsequent to this, Hon’ble Supreme Court vide it’s order dated 4th June, 2014 has directed to defreeze the Fixed Deposit account of the company subject to condition that total proceeds would be transferred to special account opened by the SEBI. Accordingly, the company has transferred an amount of Rs 694,027,883 to Sahara-SEBI Refund account. However, the company’s management strongly believes that the money deposited is recoverable and will be received back along with interest, as the amount in Sahara - SEBI Refund Account is in the shape of Fixed Deposit. However, the Company has not accrued any interest on this amount.

4. Details of dues to micro and small enterprises as defined under the Micro, Small and Medium Enterprises(MSMED) Act, 2006

As per the information available with the Company, no amounts are due to Micro, Small and Medium enterprises as per MSMED Act, 2006 as at 31 March 2016. (31 March 2015: Nil)

5. Previous year’s figures have been regrouped where necessary to conform to this year’s classification.

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Mar 31, 2015

1. Gratuity and other post-employment benefit plans:

The Company has a defined benefit gratuity plan. Every employee who has completed five years or more of service gets a gratuity on departure at 15 days salary (last drawn salary) for each completed year of service.

The following tables summarize the components of net benefit expense recognized in the statement of profit and loss and the funded status and amounts recognized in the balance sheet for the respective plans.

Statement of profit and loss

Net employee benefit expense recognized in the employee cost

2. Leases

Operating lease: company as lessee

The Company has entered into operating cancellable lease agreements for its office premises/ Godown/ aircraft hire for a period of 3-5 years. There are no clauses relating to renewal / escalation. There are no subleases. The lease rental charged during the year is as follows:

3. Segmental Information:

Business Segments:

The Company operating businesses are organized and managed separately according to the nature of services provided, with each segment representing a strategic business unit that serves different markets. The Company principal business is sale of television programmers and motion pictures production and distribution.

4. Related party disclosures

Related parties with whom transactions have taken place during the year

Related party transactions

The following table provides the total amount of transactions that have been entered into with related parties for the relevant financial year:

5. Capital and other commitments

Estimated amount of contracts remaining to be executed on capital account and not provided for, are Rs. Nil (31 March 2014: Rs. Nil)

The Company is contesting the demands and the management, including its tax advisors, believe that its position will likely be upheld in the appellate process. No tax expense has been accrued in the financial statements for the tax demand raised. The management believes that the ultimate outcome of this proceeding will not have a material adverse effect on the company's financial position and results of operations.

6. In the matter of dispute in respect of repayment of Optionally Fully Convertible Debentures (OFCDs) by two group companies, namely M/s Sahara India Real Corporation Limited & Sahara Housing Investment Corporation Limited, the Hon'ble Supreme Court of India vide its order dated 21-11-2013 had directed that Sahara Group of Companies shall not part with movable and immovable properties and accordingly Security and Exchange Board of India (SEBI) has seized the company's Fixed Deposit and Non Current Investment. Subsequent to this, Hon'ble Supreme Court vide it's order dated 4th June, 2014 has directed to defreeze the Fixed Deposit account of the company subject to condition that total proceeds would be transferred to special account opened by the SEBI. Accordingly, the company has transferred an amount of Rs 694,027,883 to Sahara-SEBI Refund account. However, the company's management strongly believes that the money deposited is recoverable and will be received back alongwith interest, as the amount in Sahara - SEBI Refund Account is in the shape of Fixed Deposit. However, the Company has not accrued any interest on this amount.

7. Details of dues to micro and small enterprises as defined under the Micro, Small and Medium Enterprises(MSMED) Act, 2006

As per the information available with the Company, no amounts are due to Micro, Small and Medium Enterprises as per MSMED Act, 2006 as at 31 March 2015. (31 March 2014: Nil)

8. Previous year's figures have been regrouped where necessary to conform to this year's classification.

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Mar 31, 2014

1. Corporate information

Sahara one Media And Entertainment Limited is a public company domiciled in India and incorporated under the provisions of the Companies Act, 1956. The company is a television content provider and also produces and distributes films.

2. Basis of preparation

The financial statements of the company have been prepared in accordance with generally accepted accounting principles in India (Indian GAAP). The company has prepared these financial statements to comply in all material respects with the accounting standards notified under the Companies (Accounting Standards) Rules, 2006, (as amended) and the relevant provisions of the Companies Act, 1956. The financial statement has been prepared on an accrual basis and under the historical cost convention.

The accounting policies adopted in the preparation of financial statements are consistent with those of previous year.

(a) Terms/ rights attached to equity shares

The Company has only one class of equity shares having par value of Rs.10 per share. Each holder of equity shares is entitled to one vote per share.

During the year ended 31 March 2014, the amount of per share dividend recognized as distributions to equity shareholders was Nil (31 March 2013: Nil).

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

As per records of the company, including its register of shareholders/ members and other declarations received from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownerships of shares.

As per order of Hon''ble Supreme Court of India dated 21-11-2013, SEBI has attached/freezed the above Fixed Deposit Receipts of Rs.656,000,000 and Current Account Bank Balance of Rs. 15,658,387. (refer note 32 for details)

3. Gratuity and other post-employment benefit plans:

The Company has a defined benefit gratuity plan. Every employee who has completed five years or more of service gets a gratuity on departure at 15 days salary (last drawn salary) for each completed year of service.

The following tables summarize the components of net benefit expense recognized in the statement of profit and loss and the funded status and amounts recognized in the balance sheet for the respective plans.

The plan assets comprises of 25.22% (previous year 27.56%) investments in Government of India Securities, 55.63% (previous year 58.71%) investments in high quality corporate bonds and 19.15% (previous year 13.73%) in Fixed Deposits with Bank.

The expected rate of return on assets is taken on the basis of LIC rate and RBI Deep Discounting Rate.

The estimates of future salary increases, considered in actuarial valuation, take account of inflation, seniority, promotion and other relevant factors, such as supply and demand in the employment market.

4. Segmental Information:

Business Segments:

The Company operating businesses are organized and managed separately according to the nature of services provided, with each segment representing a strategic business unit that serves different markets. The Company principal business is sale of television programmes and motion pictures production and distribution.

5. Capital and other commitments

Estimated amount of contracts remaining to be executed on capital account and not provided for, are Rs. Nil (31 March 2013: Rs. Nil)

6. Contingent liabilities

31 March 2014 31 March 2013 Rs. Rs.

a) Income Tax in respect of Assessment Years 2000-01 to 2011-12 in 485,354,530 483,388,673 respect of which the Company has gone on appeal. Based on judicial pronouncements, the Company''s claim is likely to be accepted by the appellate authorities.

b) Custom case pending at appellate authorities in respect of financial 445,000 445,000 year 2008-09.

The Company is contesting the demands and the management, including its tax advisors, believe that its position will likely be upheld in the appellate process. No tax expense has been accrued in the financial statements for the tax demand raised. The management believes that the ultimate outcome of this proceeding will not have a material adverse effect on the company''s financial position and results of operations.

7. During the financial year 2010-2011, the Company had filed an application with the Commissioner of Sales Tax seeking clarification in respect of applicability of MVAT on the temporary transfer of copyrights/ license to a customer with effect from July 1, 2010. However, the response from the authority is currently awaited. The Company had obtained a legal opinion in the previous year stating that such transaction is subject to only service tax and hence MVAT is not applicable. Management believes that MVAT on such transaction is not applicable and hence MVAT has not been charged on such transactions.

8. the Company has been charging service tax on sale of content under the category of ''copyright services'' during the period July 2010 to June, 2012. With effect from July 1, 2012 copyright service has been exempted from payment of service tax under serial number 15 of Notification No.25/2012-ST, Company has decided to not to avail the exemption and the Company has charged service tax on content sale.

9. In the matter of dispute in respect of repayment of optionally Fully Convertible Debentures (OFCDs) by two group companies, namely M/s Sahara India Real Corporation Limited & Sahara Housing Investment Corporation Limited, the Hon''ble Supreme Court of India vide its order dated 21-11-2013 had directed the Securities & Exchange Board of India (SEBI) to attach/freeze several current and non-current assets of group companies and its promoters. Accordingly, SEBI had attached/frozen the company''s Fixed Deposit Receipts of Rs. 656,000,000/- Current Account Bank Balance of Rs. 15,658,387/- and Non Current Investment of Rs. 11,120,300/-. Since the proceedings in relation to the above matter are in process in the Hon''ble Supreme Court of India, SEBI has the power to retain and /or utilize these assets /funds towards the repayment of OFCD Liabilities of the said two group companies. However, the company''s management is in discussion with the concerned group companies to provide matching assets as compensation in the event the company''s attached/frozen assets are appropriated by SEBI.

10. Details of dues to micro and small enterprises as defined under the Micro, Small and Medium Enterprises (MSMED) Act, 2006

As per the information available with the Company, no amounts are due to Micro, Small and Medium Enterprises as per MSMED Act, 2006 as at 31 March 2014. (31 March 2013: Nil)

11. previous year''s figures have been regrouped where necessary to conform to this year''s classification.

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Mar 31, 2013

1. Corporate information

Sahara one Media And entertainment Limited is a public company domiciled in India and incorporated under the provisions of the Companies Act, 1956. the company is a television content provider and also produces and distributes flms.

2. Basis of preparation

the fnancial statements of the company have been prepared in accordance with generally accepted accounting principles in India (Indian GAAp). the company has prepared these fnancial statements to comply in all material respects with the accounting standards notifed under the Companies (Accounting Standards) Rules, 2006, (as amended) and the relevant provisions of the Companies Act, 1956. the fnancial statement has been prepared on an accrual basis and under the historical cost convention.

The accounting policies adopted in the preparation of fnancial statements are consistent with those of previous year.

3. Capital and other commitments

Estimated amount of contracts remaining to be executed on capital account and not provided for, are Rs. nil (31 March 2012: Rs. nil)

4. During the fnancial year 2010-2011, the Company had fled an application with the Commissioner of Sales tax seeking clarifcation in respect of applicability of MVAt on the temporary transfer of copyrights/ license to a customer with effect from July 1, 2010. however, the response from the authority is currently awaited. the Company had obtained a legal opinion in the previous year stating that such transaction is subject to only service tax and hence MVAt is not applicable. Management believes that MVAt on such transaction is not applicable and hence MVAt has not been charged on such transactions.

5. the Company has been charging service tax on sale of content under the category of ''copyright services'' during the period July 2010 to June, 2012. With effect from July 1, 2012 copyright service has been exempted from payment of service tax under serial number 15 of notifcation no.25/2012-St, Company has decided to not to avail the exemption and the Company has charged service tax on content sale.

6. Details of dues to micro and small enterprises as defned under the Micro, Small and Medium Enterprises (MSMED) Act, 2006

As per the information available with the Company, no amounts are due to Micro, Small and Medium enterprises as per MSMeD Act, 2006 as at 31 March 2013. (31 March 2012: nil)

7. previous year''s fgures have been regrouped where necessary to conform to this year''s classifcation.

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Mar 31, 2012

1. Corporate information

Sahara One Media And Entertainment Limited is a public company domiciled in India and incorporated under the provisions of the Companies Act, 1956. The company is a television content provider and also produces and distributes films.

2. Basis of preparation

The financial statements of the company have been prepared in accordance with generally accepted accounting principles in India (Indian GAAP). The company has prepared these financial statements to comply in all material respects with the accounting standards notified under the Companies (Accounting Standards) Rules, 2006, (as amended) and the relevant provisions of the Companies Act, 1956. The financial statement has been prepared on an accrual basis and under the historical cost convention, except for impairment.

The accounting policies adopted in the preparation of financial statements are consistent with those of previous year, except for the change in accounting policy explained in 2.1(a) below.

3. Gratuity and other post-employment benefit plans:

The Company has a defined benefit gratuity plan. Every employee who has completed five years or more of service gets a gratuity on departure at 15 days salary (last drawn salary) for each completed year of service.

The following tables summarize the components of net benefit expense recognized in the statement of Profit and loss and the funded status and amounts recognized in the balance sheet for the respective plans.

4. Segmental Information:

Business Segments:

The Company operating businesses are organized and managed separately according to the nature of services provided, with each segment representing a strategic business unit that serves different markets. The Company principal business is sale of television programmes and motion pictures production and distribution.

5. Related party disclosures

Related parties with whom transactions have taken place during the year

Related parties where control exists irrespective of whether transactions have occurred or not :- Major shareholders having control over the company

Shri Subrata Roy Sahara

Enterprises owned or significantly influenced by major shareholders, key management personnel or their relatives

Sahara India Commercial Corporation Ltd.

Sahara hospitality Ltd.

Aamby Valley Ltd.

Sahara India, partnership frm

Sahara India Mass Communication, partnership frm

Geon Studios Pvt. Ltd.

Sahara India Financial Corporation Ltd.

Sahara Sanchar Ltd.

Aamby hospitality Services (UK ) Limited

BSK Network & Entertainment Pvt. Ltd. (w.e.f. August 2, 2011)

S K Film Enterprises (w.e.f. August 2, 2011)

Key Management Personnel

Shri Boney Kapoor, Director (w.e.f. August 2, 2011)

Shri Suresh Mishra, Manager (Assistant Director)

Shri Avinash Kaul, (CEO–Television Content Production) (till August 16, 2010)

Shri Deepak Segal, (COO – Motion Picture) (till October 31, 2011)

Shri Sanjay Garg, Chief Finance officer

6. Details of dues to micro and small enterprises as defined under the Micro, Small and Medium Enterprises (MSMED) Act, 2006

As per the information available with the Company, no amounts are due to Micro, Small and Medium Enterprises as per MSMED Act, 2006 as at 31 March 2012. (31 March 2011: Nil)

7. During the previous year, the Company had fled an application with the Commissioner of Sales Tax seeking clarification in respect of applicability of MVAT on the temporary transfer of copyrights/ license to a customer with effect from July 1, 2010. however, the response from the authority is currently awaited. The Company had obtained a legal opinion in the previous year stating that such transaction is subject to only service tax and hence MVAT is not applicable. Management believes that MVAT on such transaction is not applicable and hence MVAT has not been charged on such transactions.

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Mar 31, 2011

1. Nature of Operations

Sahara One Media And Entertainment Limited is a television content provider and also produces and distributes movies.

2. Segmental Information:

Business Segments:

The Company operating businesses are organized and managed separately according to the nature of services provided, with each segment representing a strategic business unit that serves different markets. The Company principal business is sale of television programmes and motion pictures production and distribution.

(a) Related parties where control exists irrespective of whether transactions have occurred or not :- Major shareholders having control over the company

Shri Subrata Roy Sahara

(b) Enterprise owned or significantly influenced by group of individuals or their relatives who have control or significant influence over the Company

- Sahara India Commercial Corporation Ltd.

- Sahara Hospitality Ltd.

- Aamby Valley Ltd.

- Sahara India, partnership firm

- Sahara India Mass Communication, partnership firm

- Geon Studios Pvt. Ltd.

- Sahara India Financial Corporation Ltd.

- Sahara Sanchar Ltd.

(c) Key Management Personnel

Manager Shri Suresh Mishra

CEO-Television Content Production Shri Avinash Kaul (till August 16, 2010)

COO Shri Sanjay Chitale (till November 30, 2009)

COO - Motion Picture Shri Deepak Segal (from December 01, 2009)

Chief Financial Officer Shri Sanjay Garg

3, Leases:

The Company has taken the office premises on an operating lease from Sahara India Commercial Corporation Ltd. There is no escalation clause in the lease agreement. There are no restrictions imposed by lease arrangements.

4. Capital Commitments

Estimated amount of contracts remaining to be executed on capital account and not provided for are Rs. Nil (2009-2010: Rs. Nil)

5. Contingent Liabilities not provided for:

Particulars As at As at

March 31, 2011 March 31, 2010

(Rs.) (Rs.)

a) Guarantees and Counter guarantees given by the Company :- 525,000,000 525,000,000 Against loan availed by Sahara Sanchar Limited from a bank.

Loan availed as at 31-3-2011 Rs.215,402,344 (31-3-2010: Rs.310,402,762).

b) Income Tax of Rs. 101,816,371 in respect of Assessment 101,816,371 99,951,580 Years 2000-01, 2002-03, 2004-05, 2005-06, 2006-07 and 2007-08 in respect of which the Company has gone on appeal. Based on judicial pronouncements, the Company's claim is likely to be accepted by the appellate authorities

c) Custom case pending at Tribunal in respect of financial year 410,000 555,000 2008-09

6. Gratuity and other post-employment benefit plans:

The Company has a defined benefit gratuity plan. Every employee who has completed five years or more of service gets a gratuity on departure at 15 days salary (last drawn salary) for each completed year of service.

The following tables summaries the components of net benefit expense recognised in the profit and loss account and the funded status and amounts recognised in the balance sheet for the respective plans.

The expected rate of return on assets is taken on the basis of LIC rate and RBI Deep Discounting Rate.

The Company expects to contribute Rs. 360,000 to gratuity in next year (Previous year Rs. 367,000).

The estimates of future salary increases, considered in actuarial valuation, take account of inflation, seniority, promotion and other relevant factors, such as supply and demand in the employment market.

Provident Fund

The Provident Fund being administered by a Trust is a defined benefit scheme whereby the Company deposits an amount determined as a fixed percentage of basic pay to the fund every month. The benefit vests upon commencement of employment. The interest credited to the accounts of the employees is adjusted on an annual basis to confirm to the interest rate declared by the Government for the Employees Provident Fund. The Guidance Note on implementing AS-15, Employee Benefits (revised 2005) issued by the Accounting Standard Board (ASB) states that provident funds set up by employers, which requires interest shortfall to be met by the employer, needs to be treated as defined benefit plan. Pending the issuance of the Guidance Note from the Actuarial Society of India, the company's actuary has expressed his inability to reliably measure the provident fund liability. There is no deficit in the fund.

7. As per the information available with the Company, no amounts are due to Micro, Small and Medium Enterprises as per MSMED Act, 2006 as at March 31, 2011. (March 31, 2010: Nil)

8. Additional information pursuant to the provisions of paragraphs 3,4, 4C and 4D of Part II of Schedule VI to the Companies Act, 1956 :

8.1 Quantitative Details

The Company is engaged in producing /procuring television programmes and supplying them to media companies. The production and sale of such programmes cannot be expressed in any generic unit. Hence, it is not possible to give the quantitative details of sales and certain information as required under paragraphs 3,4C and 4D of Part II of Schedule VI to the Companies Act, 1956.

9. During the current year, the Company has filed an application with the Commissioner of Sales Tax seeking clarification in respect of applicability of MVAT on the temporary transfer of copyrights/ license to a customer with effect from July 1, 2010. However, the response from the authority is currently awaited. The Company has obtained a legal opinion stating that such transaction is subject to only service tax and hence MVAT is not applicable. Management believes that MVAT on such transaction is not applicable and hence MVAT has not been charged on such transaction.

10. Previous year's figures have been regrouped where necessary to conform to this year's classification.

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Mar 31, 2010

1. Nature of Operations

Sahara One Media And Entertainment Limited is a television content provider and also produces and distributes movies.

2. Related Parties:

(a) Related parties where control Shri Subrata Roy Sahara exists irrespective of whether transactions have occurred or not :-

Major shareholders having control over the company

(b) Enterprises under common Sahara India Commercial Corporation Ltd. control

Sahara Hospitality Ltd.

- Aamby Valley Ltd.

- Sahara India, partnership firm

- Sahara India Mass Communication, partnership firm

- Sahara India Entertainment Management Company Ltd.

- Geon Studios Pvt. Ltd.

- Sahara Sanchar Limited

(c) Key Management Personnel

CEO - TV-Content Production Shri Avinash Kaul (from Feb. 15, 2010 to Aug. 16, 2010)

COO Shri Sanjay Chitale (till Nov. 30, 2009)

COO - Motion Pictures Shri Deepak Segal (from Dec. 01, 2009)

Manager & Head (Legal) Shri Suresh Mishra

Chief Financial Officer Shri Sanjay Garg

3. Capital Commitments

Estimated amount of contracts remaining to be executed on capital account and not provided for are Rs. NIL (2008-2009: Rs. NIL)

4. Contingent Liabilities not provided for:

Particulars As at March 31, As at March 31,

2010 2009 (Rs) (Rs.)

a) Guarantees and Counter guarantees given by the Company:-

- against loan availed by Sahara Sanchar Limited from a bank. 525,000,000 - Loan availed as at 31 -3-2010 Rs.310,402,762 (31 -3-2009: Rs.Nil).

- against loan availed by Sahara Hospitality Limited from a - 3,000,000,000 bank. Loan availed as at 31-3-2010 Rs. Nil (31-3-2009: Rs.1,549,038,494).

- against cash credit availed by Sahara Hospitality Limited from - 66,700,000 a bank. Cash credit availed as at 31-3-2010 Rs. Nil (31-3- 2009: Rs. 49,197,509).

b) Income Tax of Rs. 99,951,580 in respect of Assessment 99,951,580 88,085,274 Years 2000-01, 2002-03, 2004-05, 2005-06, 2006-07 and

2007-08 in respect of which the company has gone on appeal. Based on judicial pronouncements, the Companys claim is likely to be accepted by appellate authorities

c) Custom case pending at Tribunal in respect of financial year 555,000 555,000 2008-09.



The Corporate Guarantee extended to M/s Sahara Hospitality Limited aggregating to Rupees 3,066,700,000/- has been discharged before 31.03.2010 and the consortium finance security agents have issued discharge letters.

5. Gratuity and other post-employment benefit plans:

The Company has a defined benefit gratuity plan. Every employee who has completed five years or more of service gets a gratuity on departure at 15 days salary (last drawn salary) for each completed year of service.

The following tables summaries the components of net benefit expense recognised in the profit and loss account and the funded status and amounts recognised in the balance sheet for the respective plans.

The expected rate of return on assets is taken on the basis of LIC rate and RBI Deep Discounting Rate.

The Company expects to contribute Rs. 367,000 to gratuity in 2010-11.

The estimates of future salary increases, considered in actuarial valuation, take account of inflation, seniority, promotion and other relevant factors, such as supply and demand in the employment market.

Provident Fund

The Provident Fund being administered by a Trust is a defined benefit scheme whereby the Company deposits an amount determined as a fixed percentage of basic pay to the fund every month. The benefit vests upon commencement of employment. The interest credited to the accounts of the employees is adjusted on an annual basis to confirm to the interest rate declared by the Government for the Employees Provident Fund. The Guidance Note on implementing AS-15, Employee Benefits (revised 2005) issued by the Accounting Standard Board (ASB) states that provident funds set up by employers, which requires interest shortfall to be met by the employer, needs to be treated as defined benefit plan. Pending the issuance of the Guidance Note from the Actuarial Society of India, the companys actuary has expressed his inability to reliably measure the provident fund liability. There is no deficit in the fund.

6. Details of loans given to subsidiaries and associates and firms / companies in which directors are interested. Sahara India Commercial Corporation Limited.

Balance as at March 31, 2010 Rs. NIL (RY. Rs. NIL)

Maximum amount outstanding during the year Rs. NIL (RY. Rs. 700,000,000)

7. As per the information available with the Company, no amounts are due to Micro, Small and Medium Enterprises as per MSMED Act, 2006 as at March 31, 2010. (March 31, 2009: NIL)

8. Additional information pursuant to the provisions of paragraphs 3, 4, 4C and 4D of Part II of Schedule VI to the Companies Act, 1956 :-

8.1 Quantitative Details

The Company is engaged in producing /procuring television programmes and supplying them to media companies. The production and sale of such programmes cannot be expressed in any generic unit. Hence it is not possible to give the quantitative details of sales and certain information as required under paragraphs 3,4C

9. Previous years figures have been regrouped where necessary to conform to this years classification.