Accounting Policies of Sea TV Network Ltd. Company

Mar 31, 2024

1. Material Accounting Policies

Basis of Measurement

The Financial Statements of the company are consistently prepared and presented under historical cost convention on an accrued
basis in accordance with IND AS except for certain Financial Assets and Financial Liabilities that are measured at fair value.

The financial statements are presented in Indian Rupees (''INR''), which is the Company''s functional and presentation currency and all
amounts are rounded to the nearest Lacs (except otherwise indicated).

1. Property, plant and equipment

"(i) Property, plant and equipment situated in India comprising of Plant & Machinery are stated at fair Value and subsequently the
company uses revaluation model for plant & machinery as per Ind AS-16

In respect of other assets, the company has elected to value the assets at historical cost and uses cost model as per Ind AS-16. The
cost of Tangible assets comprises its purchase price, borrowing cost, any other cost directly attributable to bringing the assets into
present location and condition necessary for it to be capable of operating in the manner intended by the management, initial estimation
of any de - commissioning obilgations and finance cost."

"(ii) Depreciation

Depreciation on Fixed Assets is provided on Straight Line Method over their useful lives and in the manner specified in Schedu le II of
the Companies Act, 2013."

Depreciation on Fixed Asses is provided on Straight Line Method over their useful lives and in the manner specified in Schedule II of
the Companies Act,2013. Property, Plant & Equipment which are added/disposed off during the year the depreciation is provided on pro
rata basis with reference to month of addition/deletion.

(iii) Component Accounting

When significant parts of property, plant and equipment are required to be replaced at intervals, the Company derecognizes the
replaced part, and recognizes the new part with its own associated useful life and it is depreciated accordingly. Likewise, when a major
inspection is performed, its cost is recognized in the carrying amount of the plant and equipment as a replacement if the recognition
criteria are satisfied. All other repair and maintenance costs are recognized in the Statement of Profit and Loss as incurred. The present
value of the expected cost for the decommissioning of the asset after its use is included in the cost of the respective asset if the
recognition criteria for a provision are met.

(iv) Expenditure during construction/erection period is included under Capital Work-in-Progress and is allocated to the respective fixed
assets on completion of construction/ erection.

(v) Property, plant and equipment are eliminated from financial statement, either on disposal or when retired from active use. Losses
arising in the case of retirement of Property, plant and equipment and gains or losses arising from disposal of property, plant and
equipment are recognized in Statement of Profit and Loss in the year of occurrence.

(vi) The assets” residual values, useful lives and methods of depreciation are reviewed at each financial year end and adjusted
prospectively, if appropriate.

2. Intangible assets:

(i) Intangibles assets are recognised when it is probable that the future economic benefits that are attributable to the assets will flow to
the Company and the cost of the asset can be measured reliably. Intangible Assets are stated at cost which includes any directly
attributable expenditure on making the asset ready for its intended use. Intangible assets with finite useful lives are capita lized at cost
and amortized on a straight-line basis over a period of 10 years.

"(ii) Software:- Internally generated intangibles, excluding capitalised development costs, are not capitalised and the related
expenditure is reflected in profit and loss in the period in which the expenditure is incurred.

The amortisation period and the amortisation method for an intangible asset with a finite useful life are reviewed at least at the end of
each reporting period. Changes in the expected useful life or the expected pattern of consumption of future economic benefits
embodied in the asset are considered to modify the amortisation period or method, as appropriate, and are treated as changes in
accounting estimates. Intangibles assets with indefinite useful lives (like goodwill, brands), if any are not amortised, but are tested for
impairment annually, either individually or at the cash-generating unit level. The assessment of indefinite useful life is reviewed annually
to determine whether indefinite life continues to be supportable. If not, the change in useful life from indefinite to finite li fe is made on
prospective basis."

3. Inventories:

a) T raded goods consist of Set up Boxes are valued at lower of cost (on a first in first out basis) and net realisable value.

4. Cash and cash equivalents:

a) Cash and cash equivalents are financial assets. Cash and cash equivalents consist of cash and short-term highly liquid investments
that are readily convertible to cash with original maturities of three months or less at the time of purchase and are carried at cost plus
accrued interest.

b) Cash Flow Statement

Cash Flow are reported using indirect method, whereby profit for the year is adjusted for effects of transactions of non cash nature, any
deferrals or accruals of past or future operating cash receipts or payments and item of income or expenses associated with investing or
financing cash flows. The cash flows from operating, investing, and financing activities of the company are segregated.

c) Bank Balances Other than above

Dividend Escrow account balance, deposit with bank as margin money for guarantees issued by bank, deposits kept as security deposit
for statutory authorities are accounted as bank balance other than cash and cash equivalent.

5. Financial instruments:

A financial instrument is any contract that at the same time gives rise to a financial asset of one entity and a financial liabi lity or equity
instrument of another entity. Financial instruments are recognized as soon as the company becomes a contracting party to the financial
instrument. In cases where trade date and settlement date do not coincide, for non-derivative financial instruments the settlement date
is used for initial recognition or derecognition, while for derivatives the trade date is used. Financial instruments stated as financial
assets or financial liabilities are generally not offset; they are only offset when a legal right to set-off exists at that time and settlement
on a net basis is intended.

A. Financial assets:

Financial assets include trade receivable, cash and cash equivalents, equity / debt instruments held. Initially all financial assets are
recognised at amortised cost or fair value through Other Comprehensive Income or fair value through Statement of Profit or Los s,
depending on its business model for those financial assets and their contractual cash flow characteristics. Subsequently, based on
initial recognition/ classification, where assets are measured at fair value, gain and losses are either recognised entirely in the
statement of profit and loss (i.e. fair value through profit or loss), or recognised in other comprehensive income (i.e. fair v alue through
other comprehensive income).

(a) Trade receivables:

Trade receivables are recognised initially at fair value and subsequently measured at amortized cost less credit loss/impairment
allowances.

Impairment is made on the expected credit loss model, which are the present value of the cash deficits over the expected life of
receivables. The estimated impairment losses are recognised in the Statement of Profit and Loss. Subsequent changes in assessment
of impairment are recognized in the Statement of Profit and Loss as changes in estimates.

The company makes provision for expected credit loss against trade receivables based on the simplified approach (i.e. the loss
allowance is measured as the amount equal to lifetime expected credit losses).

(b) Loans & other financial assets

Loans and other financial assets are financial assets with fixed or determinable payments that are not quoted in an active market. Such
assets are recognized initially at fair value plus any directly attributable transaction costs. Subsequent to initial recognition, loans and
other financial assets are measured at amortized cost using the effective interest method, less any impairment losses.

(c) Investment in equity shares:

Investment in equity securities are initially measured at fair value. Any subsequent fair value gain or loss for investments held for
investment is recognized through Other Comprehensive Income. Any subsequent gain or loss for investment held for trading are
recognized through Statement of Profit and Loss.

(d) Investment in associates, joint venture and subsidiaries:

The Company''s investment in subsidiaries and associates, joint venture / LLP are carried at fair value and any appreciation or
impairment is recognised in financial statement through OCI.

B. Financial liabilities:

Financial liabilities such as loans and borrowings and other payables are recognized initially on the trade date, which is the date that the
Company becomes a party to the contractual terms of the instrument. Financial liabilities other than fair valued through profi t and loss
are recognized initially at fair value less any directly attributable transaction costs. Subsequent to initial recognition, t hese financial
liabilities are measured at amortized cost using the effective interest method. Transaction costs of financial liability carried at fair value
through profit or loss is expensed in profit or loss. The Company derecognizes a financial liability when its contractual obliga tions are
settled or cancelled or expired.

Financial liabilities at fair value through profit or loss:

It includes financial liabilities held for trading and are designated such at initial recognition. Financial liabilities are held for trad ing if they
are incurred for the purpose of repurchasing in near term and also include Derivatives that are not part of an effective hedge accounting
in accordance with IND AS 109, classified as “held for trading” and carried at fair value through profit or loss. Financial liabilities at fair
value through profit or loss are measured at each reporting date at fair value with all the changes recognized in the Statement of Profit
and Loss.

Financial liabilities measured at amortised cost

Post recognition, interest bearing loans and borrowings are subsequently measured at amortised cost using the effective interest rate
method ("EIR"). Amortised cost is calculated by taking into account any discount or premium on acquisition and fee or costs that are an
integral part of the EIR. The EIR amortisation is included in finance costs in the Statement of Profit and Loss.

Loans and Borrowings

After initial recognition, interest-bearing borrowings are subsequently measured at amortised cost using the effective interest method.
Any difference between the proceeds (net of transaction costs) and the redemption amount is recognized in profit or loss over the
period of the borrowings using the effective interest method. Fees paid on the establishment of loan facilities are recognized as
transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down.

Trade and other payables:

A payable is classified as ''trade payable'' if it is in respect of the amount due on account of goods purchased or services rec eived in the
normal course of business. Trade accounts payable and other non-derivative financial liabilities are in general measured at amortized
cost using the effective interest method. Finance charges, including premiums payable on redemption or settlement, are periodically
accrued using the effective interest method and increase the liabilities'' carrying amounts unless they have already been settled in the
period in which they were incurred.

(C) Impairment of non-financial assets:

At each reporting date, the company assesses whether there is any indication that a non-financial asset may be impaired. If any such
indication exists, the recoverable amount of the non-financial asset is estimated in order to determine the extent of the impairment loss,
if any. Recoverable amount is determined:

• In the case of an individual asset, at the higher of the Fair Value less cost to sell and the value in use: and

• In the case of cash generating unit (a group of assets that generates identified, independent cash flows) at the higher of cash
generating unit''s fair value less cost to sell and the value in use.

Where it is not possible to estimate the recoverable amount of an individual non-financial asset, the company estimates the recoverable
amount of the smallest cash generating unit to which the non-financial asset belongs. The recoverable amount is the higher of an
asset''s or cash generating unit''s fair value less costs of disposal and its value in use. If the recoverable amount of a non-financial asset
or cash generating unit is estimated to be less than its carrying amount, the carrying amount of the non-financial asset or cash
generating unit is reduced to its recoverable amount. Impairment losses are recognized immediately in the statement of Profit and Loss.
Where an impairment loss subsequently reverses, the carrying amount of the non-financial asset or cash generating unit is increased to
the revised estimate of its recoverable amount. However, this increased amount cannot exceed the carrying amount that would have
been determined had no impairment loss been recognized for that non-financial asset or cash generating unit in prior periods. A
reversal of an impairment loss is recognized immediately in the statement of Profit and Loss.

(D) Revenue recognition:

The company derives revenue from carriage fees, time and space selling, and income from LCO. In accordance with Ind AS 115, the
company recognises revenue from services at a time when performance obligation is satisfied and upon transfer of control of promised
services to customer in an amount that reflects the consideration the company expects to receive in exchange for their services. The
company disaggregates the revenue based on nature of services/Geography.

(E) Employees Benefits:

(a) Short term employee Benefit:

All employees'' benefits payable wholly within twelve months rendering services are classified as short term employee benefits.
Benefits such as salaries, wages, short-term compensated absences, performance incentives etc., and the expected cost of bonus, ex-
gratia are recognized during the period in which the employee renders related service.

(b) Defined Contribution Plan:

Contributions to the Employees'' Provident Fund and Employee''s State Insurance are recognized as Defined Contribution Plan and
charged as expenses in the year in which the employees render the services.

(c) Defined Benefit Plan (Unfunded):

The Leave Encashment and Gratuity are defined benefit plans. The cost of providing benefits under the defined benefit plan is
determined using the projected unit credit method with actuarial valuations being carried out at each balance sheet date, which
recognises each period of service as giving rise to additional unit of employee benefit entitlement and measure each unit separately to
build up the final obligation. Re-measurements, comprising of actuarial gains and losses, excluding amounts included in net interest on
the net defined benefit liability, are recognized immediately in the balance sheet with a corresponding debit or credit to retained
earnings through other comprehensive income in the period in which they occur. Re-measurements are not classified to the statement
of profit and loss in subsequent periods. Past Service cost is recognised in the statement of profit

and loss in the period of plan amendment. Net Interest is calculated by applying the discount rate to the net defined benefit l iability or
asset.

The Company recognises the following changes in the net defined benefit obligation under employee benefit expenses in the statem ent
of profit and loss.

• Service costs comprising current service costs, gains and losses on curtailments and non-routine Settlements.

• Net interest income or expense.

(d) Long term Employee Benefit:

Compensated absences which are not expected to occur within twelve months after the end of the period in which the employee
renders the related services are recognised as a liability at the present value of the defined benefit obligation at the balance sheet date.

(e) Termination benefits:

Termination benefits are recognised as an expense in the period in which they are incurred.

The Company shall recognize a liability and expense for termination benefits at the earlier of the following dates:

(a) when the entity can no longer withdraw the offer of those benefits; and

(b) when the entity recognises costs for a restructuring that is within the scope of Ind AS 37 and involves the payment of termination
benefits.

(F) Borrowing costs:

(a) Borrowing costs that are specifically attributable to the acquisition, construction, or production of a qualifying asset are capitalised as
a part of the cost of such asset till such time the asset is ready for its intended use or sale. A qualifying asset is an asset that
necessarily requires a substantial period of time to get ready for its intended use or sale.

(b) For general borrowing used for the purpose of obtaining a qualifying asset, the amount of borrowing costs eligible for capitalization
is determined by applying a capitalization rate to the expenditures on that asset. The capitalization rate is the weighted average of the
borrowing costs applicable to the borrowings of the Company that are outstanding during the period, other than borrowings made
specifically for the purpose of obtaining a qualifying asset. The amount of borrowing costs capitalized during a period does n ot exceed
the amount of borrowing cost incurred during that period.

(c) All other borrowing costs are recognised as expense in the period in which they are incurred.

(G) Leases:

In accordance with IND AS 116, the Company recognizes right of use assets representing its right to use the underlying asset for the
lease term at the lease commencement date. The cost of right of use asset measured at inception shall comprise of the amount of the
initial measurement of the leave liability adjusted for any lease payment made at or before commencement date less any lease
incentive received plus any initial direct cost incurred and an estimate of cost to be incurred by lessee in dismentling and removing
underlying asset or restoring the underlying asset or site on which it is located. The right of use asset is subsequently measured at cost
less accumulated depreciation, accumulated impairment lossess, if any, and adjusted for any remeasurement of lease liability. The
right of use assets is depreciated using the straight line method from the commencement date over the shorter of lease term or useful
life of right of use asset. The estimated useful lives of right of use assets are determined on the same basis as those of property, plant
and equipment. Right of use assets are tested for impairment whenever there is any indication that their carrying amounts may not be
recoverable, Impairment loss, if any, is recognized in statement of profit and loss. The Company measures the lease liability at the
present value of the lease payments that are not paid at the commencement date of lease. The lease payments are discounted using
the interest rate implicit in the lease, if that rate can be readily determined, the Company uses incremental borrowing rate.

The lease liability is subsequently remeasured by increasing the carrying amount to reflect interest on lease liability, reducing the
carrying amount to reflect the lease payments made and remeasuring the carrying amount to reflect any reassessment or lease
modification or to reflect revised-in-substance fixed lease payments, the company recognizes amount of remeasurement of lease
liability due to modification as an adjustment to right of use assets and statement of profit and loss depending upon the nature of
modification. Where the carrying amount of right of use assets is reduced to zero and there is further reduction in measurement of

lease liability, the Company recognizes any remaining amount of the remeasurement in statement of profit and loss.

The Company has elected not to apply the requirements of IND AS 116 to short term leases of all assets that have a lease term of
twelve month or less and leases for which the underlying asset is of low value. The lease payments associated with these leases are
recognized as an expense over lease term.

The determination of whether an arrangement is, or contains, a lease is based on the substance of the arrangement at the inception
date, whether fulfillment of the arrangement is dependent on the use of a specific asset or assets or the arrangement conveys a right to
use the asset, even if that right is not explicitly specified in an arrangement.

(H) Taxes on income:

Income Tax expenses comprise current tax expenses and the net change in the deferred tax asset or liabilities during the year. Current
and Deferred tax are recognised in Statement of Profit and Loss, except when they relate to items that are recognised in Other
Comprehensive Income or directly in equity, in which case, the current and deferred tax are also recognised in Other Comprehensive
Income or directly in equity respectively.

Current Tax

The Company provides current tax based on the provisions of the Income Tax Act, 1961 applicable to the Company.

Deferred Tax

"Deferred tax is recognised using the Balance Sheet approach. Deferred tax assets and liabilities are recognised for deductible and
taxable temporary differences arising between the tax base of assets and liabilities and their carrying amount.

Deferred tax liabilities are recognised for all taxable temporary differences.

Deferred tax assets are recognised for all deductible temporary differences, the carry forward of unused tax credits and any unused tax
losses. Deferred tax assets are recognised to the extent that it is probable that taxable profit will be available against which the
deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can be utilised.

The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable
that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilised. Unrecognized deferred tax assets
are re-assessed at each reporting date and are recognised to the extent that it has become probable that future taxable profits will allow
the deferred tax assets to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realised or
liability is settled, based on tax rates (and tax laws) that have been enacted or substantially enacted at the reporting date.

Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current
tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority."

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Mar 31, 2015

1.1 Basis of preparation of financial statements

These financial statements have been prepared in accordance with Indian Generally Accepted Accounting Principles (GAAP) under the historical cost convention on the accrual basis. GAAP comprises mandatory accounting standards as prescribed under section 133 of the Companies Act, 2013 ('the Act') read with Rule 7 of the Companies (Accounts) Rules, 2014 the provisions of the Act (to the extent notified) and guidelines issued by the Securities and Exchange Board of India (SEBI). Accounting policies have been consistently applied except where a newly issued accounting standard is initially adopted or a revision to an existing accounting standard requires a change in accounting policy hitherto in use.

1.2 Use of Estimates

The preparation of financial statements in conformity with GAAP requires the Management to make estimates and assumptions that affect the reported balances of assets and liabilities and disclosures relating to contingent liabilities as at the date of the financial statements and reported amounts of income and expenses during the period. Examples of such estimates include provision for doubtful debts; future obligations under employees retirement benefit plans, income taxes, post sales customer support and the useful lives of fixed tangible and intangible assets. Although these estimates are based on the management's best knowledge of current events and actions, uncertainty about these assumptions and estimates could results in the outcomes requiring a material adjustment to the carrying amounts of assets, liabilities, revenue and expenses in future periods. Changes in estimates are reflected in the financial statements in the period in which changes are made and if material, their effects are disclosed in notes to accounts.

1.3 Revenue recognition

Revenue is primarily derived from carriage fee, time and space selling and income from LCO. Revenue is recognized as the related services are performed/ provided to the clients.

The Company presents revenues net of indirect taxes in its statement of Profit and Loss.

Profit from sale of investments is recorded on transfer of title from the Company and is determined as the difference between the sale price and carrying cost of the investment.

Lease rentals are recognized rateably on a straight-line basis over the lease term.

Interest is recognized using the time-proportion method, based on rates implicit in the transaction.

Dividend income is recognized when the Company's right to receive dividend is established.

1.4 Provisions and contingent liabilities

A provision is recognized if, as a result of a past event, the Company has a present legal obligation that is reasonably estimable, and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are determined by the best estimate of the outflow of economic benefits requires to settle the obligation at the reporting date. Where no reliable estimate can be made, a disclosure is made as contingent liability. A disclosure for a contingent liability is also made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources. Where there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made.

1.5 Tangible assets and capital work-in-progress

Tangible assets are stated at cost, less accumulated depreciation and impairment, if any. Direct costs are capitalized until such assets are ready for use. Capital work-in-progress comprises the cost of fixed assets that are not yet ready for their intended use at the reporting date.

1.6 Intangible assets

Intangible assets are recorded at the consideration paid for acquisition of such assets and are carried at cost less accumulated amortization and impairment.

1.7 Depreciation and amortization

Depreciation on tangible assets is provided on the straight-line method over the useful lives of assets as per schedule II of the companies Act, 2013 except in case of set top boxes useful lives as estimated by the management. Depreciation for assets purchased/ sold during the period is proportionately charged. The Management estimates the useful lives for the fixed assets as follows:

- For these classes of assets, based on manufacturer's technical evaluation, the management believes that the useful lives as given above represent the period over which the management expects to use these assets. Hence the useful lives for these assets is different from the useful lives as prescribed under part C of Schedule II of the Companies Act, 2013

Intangible assets are amortized over their respective individual estimated useful lives on a straight-line basis commencing from the date of assets is available to the company for its use.

1.8 Impairment

The management periodically assesses, using external and internal sources, whether there is an indication that an assets may be impaired. If any indications exist, the recoverable amount is estimated. An impairment loss is recognized wherever the carrying amount of an asset exceeds its recoverable amount.

1.9 Retirement benefits to employees Gratuity

The employees' gratuity scheme is a Defined Benefit Plan (DBP). The present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method on the balance sheet date, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation. The Company recognizes the net liability of the gratuity in the Balance sheet and expenses in statement of Profit and Loss in accordance with Accounting Standard (AS) 15, "Employee Benefits".

Provident Fund

Eligible employees receive benefits from a provident fund, which is a defined benefit plan. Both the employee and the Company make monthly contributions to the provident fund equal to a specified percentage of salary.

Leave encashment

The obligation for leave encashment is provided on the basis of earned leave standing to the credit of the employees. The present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method on the balance sheet date, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation. The Company recognizes the net liability of the leave encashment in the Balance sheet and expenses in statement of Profit and Loss in accordance with Accounting Standard (AS) 15, "Employee Benefits"

1.10 Foreign Currency Transactions

Foreign currency transactions are recorded in the reporting currency, by applying to the foreign currency amount the exchange rate between the reporting currency and the foreign currency at the date of transac- tion.

Foreign currency denominated non-monetary liabilities is translated at exchange rates in effect at the Balance Sheet Date. The gains or losses resulting from such transactions are included in the respective assets.

Revenue, expenses and cash flow items denominated in foreign currencies are translated using the exchange rate in effect on the date of the transactions. Transaction gains or losses realized upon settlement of foreign currency transactions are included in determining net profit for the period in which the transaction is settled.

1.11 Taxes on income

a) Current tax

i) Current income tax is measured at the amount expected to be paid to taxation authorities in accordance with the Income Tax Act, 1961 enacted in India by using tax rates and the tax laws that are enacted at the reporting date after considering tax allowances and exemptions. Provisions are recorded when it is estimated that a liability due to disallowances or other matters is probable.

ii) Minimum Alternate Tax (MAT) paid in accordance with the tax laws, which gives rise to future economic benefits in the form of tax credit against future income tax liability, is recognised as an asset in the Balance Sheet if there is convincing evidence that the Company will pay normal tax after certain period and the resultant asset can be measured reliably.

b) Deferred tax

The differences that result between the profit considered for income taxes and the profit as per the financial statements are identified, and thereafter a deferred tax asset or deferred tax liability is recorded for timing differences, namely the differences that originate in one accounting period and reversed in another, based on the tax effect of the aggregate amount of timing difference. The tax effect is calculated on the timing differences at the end of the an accounting period based on enacted or substantively enacted regulations. Deferred tax assets in situation where unabsorbed depreciation and carry forward business loss exists, are recognized only if there is virtual certainty supported by convincing evidence that sufficient future taxable income will be available against which such deferred tax asset can be realized. Deferred tax assets, other than in situation of unabsorbed depreciation and carry forward business loss, are recognized only if there is reasonable certainty that they will be realized. Deferred tax assets are reviewed for the appropriateness of their respective carrying values at each reporting date. Deferred tax assets and deferred tax liabilities have been offset as they relate to income taxes levied by the same taxation authority.

1.12 Earnings per share

Basic earnings per share is computed by dividing the net profit after tax by the weighted average number of equity shares outstanding during the period, Diluted earnings per share is computed by dividing the profit after tax by the weighted average number of equity shares considered for deriving basic earnings per share and also the weighted average number of equity shares that could have been issued upon conversion of all diluted potential equity shares. The diluted potential equity shares are adjusted for the proceeds receivable had the shares been actually issued at fair value which is the average market value of the outstanding shares.

1.13 Investments

Trade investments are the investments made to enhance the Company's business interest. Investments are either classified as current or non-current based on Management's intention. Current investments are carried at the lower of cost and fair value of each investment individually. Long term investments are carried at cost less provisions recorded to recognize any decline, other than temporary, in the carrying value of each investment.

1.14 Cash and cash equivalents

Cash and cash equivalents comprise cash and cash on deposit with banks. The Company considers all highly liquid investments with remaining maturity at the date of purchase of three months or less and that they are readily convertible to known amounts of cash to be cash equivalents.

1.15 Cash flow Statement

Cash flows are reported using the indirect method, whereby profit before tax is adjusted for the effects of transactions of a non-cash nature, any deferrals or accruals of past or future operating cash receipts or payments and item of income or expenses associated with investing or financing cash flows. The cash flows from operating, investing and financing activities of the Company are segregated.

1.16 Leases

Lease under which the company assumes substantially all the risks and rewards of ownership are classified as finance leases. Such assets acquired are capitalized at fair value of the asset or present value of the minimum lease payments at the inception of the lease, whichever is lower. Lease payments under operating leases are recognized as an expense on a straight-line basis in the Statement of Profit and Loss over the lease term.

1.17 Borrowing costs

Borrowing cost includes interest and ancillary costs incurred in connection with the arrangement of borrowings. Borrowing costs directly attributable to the acquisition, construction or production of an asset that necessarily takes a substantial period of time to get ready for its intended use or sale are capitalised as part of the cost of respective asset. All other borrowing costs are recognised as expenses in the period in which they occur.

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Mar 31, 2014

A) AS - 1 Disclosure of Accounting policies

The Financial Statements are prepared to compile with the Accounting Standards (AS) referred to in the Companies (Accounting Standard) Rules 2006 issued by the central government in exercise of the power conferred under sub- section (i) (a) of Section 642 and the relevant provision of the Companies Act 1956 corresponding to section 469 of the Companies Act, 2013 (the ''Act''). The accompanying financial statements are prepared in accordance with generally accepted accounting principles in India ("GAAP"), under the historical Cost convention on the accrual basis as a going concern. The company has consistently applied the accounting policies unless otherwise stated.

b) AS - 2 Valuation of inventories

In the absence of inventory AS-2 is not applicable.

c) AS - 3 Cash Flow Statements

The Cash flow statement is prepared under " Indirect method" and the same is annexed.

d) AS - 4 Contingencies and events occurring after Balance Sheet Date

Two Petitions have been filed on 15.05.2014 by Den Networks Limited against the company claiming placement fee due for Rs.3370800/= and Rs.11217274/= respectively before TDSAT. The company has already transferred these MOUs to its sister concern M/s. Sea News Network Limited, hence there is no liability of the company requiring any provision in this regard.

f) AS - 6 Depreciation accounting

Depreciation is charged on straight-line method (SLM) method as per rates specified in schedule XIV of the Companies Act, 1956.

In respect of additions/deductions during the year, pro-rata depreciation has been provided at the rates proscribed under schedule XIV.

Depreciation in respect of assets acquired during the year, whose cost does not exceed Rs.5000/- has not been charged @100%.therefore a sum of Rs.22,86,29,565.82 has been less charged as depreciation.

Depreciation on set top boxes has been charged for an amount as is arrived at by dividing 90% of the original cost thereof to the company by specified period in each case as certified by Chartered Engineer.

g) AS - 7 Construction Contracts

The accounting standard is not applicable.

h) AS - 8 Research & Development

The accounting standard is withdrawn.

i) AS - 9 Revenue recognition

(i) Income of the company is derived from services. Revenue is recognized on accrual basis on the basis of services provided to the clients.

(ii) Income from Investment is credited to revenue in the year in which it accrues. Income is stated in full with tax thereon.

(iii) Dividend is recognized as income as and when the right to receive such payment is established.

(iv) Other Income is accounted for on accrual basis in accordance with Accounting Standard (AS) 9 - "Revenue Recognition".

(v) The revenue and expenditure are accounted on a going concern basis.

j) AS - 10 Accounting for fixed assets

Fixed assets are stated at cost including directly attributable cost of bringing them to their respective working condition for intended use, less accumulated depreciation thereon.

l) AS - 12 Accounting for Government Grants

The company has not received any grants.

m) AS - 13 Accounting for Investments-

Investments are classified into current investments and long-term investments. The cost of investments includes acquisition charges such as brokerage charges, fees and duties. Current Investments are carried at lower of Cost and Fair Value.

Long-term investments are valued at cost. No Provision for diminution has been made to recognize the decline being temporary in the carrying value of each investment.

n) AS - 14 Accounting for amalgamation

During the year there was no amalgamation.

o) AS - 15 Accounting for employee benefits

- Short Term employee benefits are recognized as an expense at the undiscounted amount in the Profit & Loss account of the year in which the related service is rendered.

b) Defined Benefit Plan

The employees'' gratuity scheme is a Defined Benefit Plan(DBP). The present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation. The obligation for leave encashment is recognized in the same manner as gratuity.

p) AS - 16 Borrowing cost

a) The borrowing costs have been treated in accordance with accounting standard.

b) Amount of borrowing costs attributable to qualifying Assets capitalized during the year. Amount due within one year in respect of Term Loans.

q) AS - 17 Segment reporting

The company is a single product, single location company and hence the requirements of Accounting Standard 17 on Segment Reporting is not applicable.

t) AS - 20 Earning per share

Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity shareholders (after deducting preference dividends and attributable taxes) 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 dilative potential equity shares. The Company does not have any outstanding diluted Potential equity shares, consequently the basic and diluted earning per share of the Company remain the same.

Disclosure is made in the Profit and Loss A/c as per the requirements of the standard.

u) AS - 21 Consolidated financial statements

Company has two subsidiaries namely Sea News Network Ltd., Jain Telemedia Services Ltd. Consolidated financial statements for the year are required to be prepared and reported as per (AS) requirement.

v) AS - 22 Accounting for taxes on income

The Provisions for tax for the year ended 31.03.2014 is made in accordance with provisions of Income tax Act, 1961.

Deferred tax Liability and assets are recognised based on timing deference using the tax rates substantively enacted on the Balance Sheet date.

w) AS - 23 Accounting for investments in associates in consolidated financial statements

Not applicable

x) AS - 24 Discontinuing operations

During the year the company has not yet discontinued any of its operations.

y) AS - 25 Interim Financial reporting

Company has not selected for any interim financial reporting.

z) AS - 26 Accounting for intangible assets

During the year company acquired the following assets falling under the definition of intangible assets as per account standard and the following discourse is made in respect of these assets.

(i) Trademark

i. Estimated useful life 10 Year

ii. Amortisation rates used 10% each year as deprecation

Gross carrying amount in the beginning and at the end of year together with addition and deletion during the period.

(ii) Software

i. Estimated useful life 3 Year

ii. Amortisation rates used 33.33% each year as deprecation

Gross carrying amount in the beginning and at the end of year together with addition and deletion during the year.

(iii) Video Right

i. Estimated useful life 10 Year

ii. Amortisation rates used 10% each year as deprecation

Gross carrying amount in the beginning and at the end of year together with addition and deletion during the year.

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Mar 31, 2012

A) AS - 1 Disclosure of Accounting policies

The Financial Statements are prepared to compile with the Accounting Standards (AS) referred to in the Companies (Accounting Standard) Rules 2006 issued by the central government in exercise of the power conferred under sub-section (i)(a) of Section 642 and the relevant provision of the Companies Act, 1956 ('the Act'). The accompanying financial statements are prepared in accordance with generally accepted accounting principles in India ("GAAP"), under the historical cost convention on the accrual basis as a going concern. The company has consistently applied the accounting policies unless otherwise stated.

b) AS - 2 Valuation of Inventories

Inventories are valued at Cost or Net Realizable Value whichever is lower. However Company is a service provider and it has no inventory.

c) AS - 3 Cash Flow Statements

The Cash Flow statement is prepared under "Indirect method" and the same is annexed.

d) AS - 4 Contingencies and events occurring after Balance Sheet Date

There are no contingencies and events occurred after Balance Sheet date for reporting, except a demand notice by M/s. Torrent Power Ltd. of an amount of Rs. 65,24,741.20 for rented premises (Registered office) of the company against which a petition will be filed by the company in the competent court after taking the expert legal opinion.

f) AS - 6 Depreciation accounting

Depreciation is charged on straight-line method (SLM) method as per rates specified in schedule XIV of the Companies Act, 1956.

In respect of additions/deductions during the year, pro-rata depreciation has been provided at the rates prescribed under schedule XIV.

Depreciation in respect of assets acquired during the year, whose cost does not exceed Rs. 5000/- has not been charged @ 100%, therefore a sum of Rs. 32835.22 has been less charged as depreciation.

g) AS - 7 Construction Contracts

The accounting standard is not applicable.

h) AS - 8 Research & Development

The accounting standard is withdrawn.

i) AS - 9 Revenue recognition

i) Income of the company is derived from services. Revenue is recognized on accrual basis on the basis of services provided to the clients.

ii) Income from Investment is credited to revenue in the year in which it accrues Income is stated in full with tax thereon.

iii) Dividend is recognized as income as and when the right to receive such payment is established.

iv) Other income is accounted for on accrual basis in accordance with Accounting Standard (AS) 9- "Revenue Recognition".

v) The revenue and expenditure are accounted on a going concern basis.

l) AS - 12 Accounting for Government Grants

The company has not received any grants.

m) AS - 13 Accounting for Investments

Investments are classified into current investments and long-term investments. The cost investments include acquisition charges such as brokerage charges, fees and duties. Current investments are carried at lower of Cost and Fair Value.

n) AS -14 Accounting for amalgamation

During the year there was no amalgamation.

o) AS - 15 Accounting for employee benefits

- Short Term employee benefits are recognized as an expense at the undiscounted amount in the Profit & Loss account of the year in which the related service is rendered.

- However no such expense has been recognised during the current period.

p) AS - 16 Borrowing cost

a) The borrowing costs have been treated in accordance with accounting standard on borrowing cost issued by the ICAI.

b) Amount of borrowing costs attributable to qualifying costs capitalized during the year.

q) AS -17 Segment reporting

The company is a single product, single location company and hence the requirements of Accounting Standard 17 on Segment Reporting are not applicable.

r) AS - 18 Related party disclosure

Disclosure is made as per the requirements of the standard and the same is furnished below:

List of related parties

Reporting entity Sea TV Network Limited

Subsidiary companies Sea News Network Limited

Jain Telemarks Service Limited

Sea Print Media and Publication Limited

Holding companies NIL

Fellow subsidiaries NIL

Associate companies NIL

Joint Venture NIL

Group Company Janavi Media Venture Limited

Narokar(###) Global Broadcasting Limited

Key Managerial Personal Mr. Neeraj Jain Chairman & MD

Mr. Pankaj Jain Director

Mr. Akshay Kumar Jain Director

Relatives of Key Management Personnel Mrs. Sonal Jain Wife of Mr. Neeraj Jain

Mrs. Chhaya Jain Wife of Mr. Pankaj Jain

Mr. Chakresh Kumar Jain Brother of Mr. Akshay Kumar Jain

t) AS - 20 Earnings per share

Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity shareholders (after deducting preference dividends and attributable taxes) 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 dilative potential equity shares. The company does not have any outstanding diluted potential equity shares, consequently the basic and diluted earnings per share of the Company remain the same.

Disclosure is made in the Profit and Loss A/c as per the requirements of the standard.

u) AS - 21 Consolidated financial statements

Company has three subsidiaries namely Sea News Network Ltd. Jain Telemedia Services Ltd. and Sea Print Media and Publication Ltd. Consolidated financial statements for the year are required to be prepared and reported as per (AS) requirement.

w) AS - 23 Accounting for investments in associates in consolidated financial statements

Not applicable

x) AS - 24 Discontinuing operations

During the year the company has not yet discontinued any of its operation.

y) AS - 25 Interim Financial reporting

Company has not selected for any interim financial reporting.

z) AS - 26 Accounting for intangible assets

During the year company acquired the following assets falling under the definition of intangible assets as per account standard and the following discourse is made in respect of these assets.