Notes to Accounts of Shemaroo Entertainment Ltd.

Mar 31, 2025

(u) Provisions, contingent liabilities & contigent
assets

Provisions are recognised when the Company has
a present obligation as a result of a past events; 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 financial cost.

Contingent liabilities are disclosed unless the
possibility of outflow of resources is remote.
Provisions and contingent liabilities are reviewed
at the end of each reporting period and adjusted
to reflect the current best estimate. Contingent
assets are neither recognised nor disclosed in the
financial statements.

(v) Investment property

Investment in buildings that is not intended to
be occupied substantially for use by, or in the
operations of the Company, are classified as
investment property. Investment properties are
measured initially at cost, including transaction
costs. Subsequent to initial recognition, investment
properties are stated at cost less accumulated
depreciation and accumulated impairment loss,
if any. All repairs and maintenance costs incurred
for the investment properties are charged to
statement of profit and loss account when incurred.

Investment properties are depreciated using the
straight-line basis over its estimated useful lives.
Useful life of the same is estimated as 58 years
after considering estimated residual value as 5%.

Though the Company measures investment
property using cost based measurement, the fair
value of investment property is disclosed in the
notes (Refer Note 3(b)). Fair values are determined
based on ready reckoner rate as specified by
State Government. If at the balance sheet date
there is an indication that a previously assessed
impairment loss no longer exists, the recoverable
amount is reassessed and the asset is reflected at
the recoverable amount subject to a maximum of
depreciated historical carrying value.

Investment properties are derecognised either
when they have been disposed of or when they are
permanently withdrawn from use and no future
economic benefit is expected from their disposal.
The difference between the net disposal proceeds
and the carrying amount of the asset is recognised
in profit or loss in the period of derecognition.

(w) Recent Pronouncements

Ministry of Corporate Affairs (“MCA”) notifies
new standards or amendments to the existing
standards under Companies (Indian Accounting
Standards) Rules as issued from time to time.
For the year ended March 31, 2025, MCA has
notified Ind AS - 117 Insurance Contracts and
amendments to Ind AS 116 - Leases, relating to
sale and leaseback transactions, applicable to the
Company w.e.f. April 1, 2024. The Company has
reviewed the new pronouncements and based on
its evaluation has determined that it does not have
any significant impact in its financial statements.

26 Employee Benefits

The Disclosures as defined in the Indian Accounting Standard 19 “Employee benefits”, are given below :

a) Defined Contribution Plans

Contribution to provident and other funds is recognised as an expense in Note 22 “Employee benefit expense” of the Statement of
Profit and Loss.

b) Defined Benefit Plan

The present value of gratuity obligation is determined based on actuarial valuation using the Projected Unit Credit Method, which
recognises each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately
to build up the final obligation. The obligation for leave benefits (non funded) is also recognised using the Projected Unit Credit Method.

VIII) The defined benefit plans expose the Company to actuarial risks such as interest rate risk, longevity risk and salary risk:

Interest risk: A decrease in the bond interest rate will increase the plan liability.

Longevity risk: The present value of the defined benefit plan liability is calculated by reference to the best estimate of mortality of plan
participants both during and after their employment. An increase in the life expectancy of the plan participants will increase the plan''s
liability.

Salary risk: The present value of defined benefit plan liability is calculated by reference to the future salaries of plan participants. As such, an
increase in the salary of plan participants will increase the plan''s liability.

IX) Sensitivity Analysis

The key actuarial assumptions to which the benefit obligation results are particularly sensitive to discount rate and future salary escalation
rate. The following table summarizes the impact in percentage terms on the reported defined benefit obligation at the end of the reporting
period arising on account of an increase or decrease in the reported assumption by 100 basis points:

Notes:

The current service cost recognised as an expense is included in Note 22 ‘Employee benefits expense'' as gratuity. The remeasurement of the
net defined benefit liability is included in other comprehensive income.

The estimates of rate of escalation in salary considered in actuarial valuation take into account inflation, seniority, promotion and other
relevant factors including supply and demand in the employment market. The above information is certified by the Actuary.

Significant actuarial assumptions for the determination of the defined obligation are discount rate, expected salary increase and mortality.
The sensitivity analysis above have been determined based on reasonably possible changes of the respective assumptions occurring at the
end of the reporting period,while holding all other assumptions constant.

c) Other long term benefits :

The obligation for leave benefits (non funded) is also recognised using the Projected Unit Credit Method and accordingly the long term
paid absences have been valued. The leave encashment expense is included in Note 22 ‘Employee benefits expense''.

(i) Financial risk management objective and policies

The Company''s principal financial liabilities, comprise loans and borrowings, trade and other payables. The main purpose of these
financial liabilities is to finance the Company''s operations. The Company''s principal financial assets include investments, loans, trade
and other receivables, and cash and cash equivalents that derive directly from its operations. The Company is exposed to market risk,
credit risk and liquidity risk. The Company''s senior management oversees the management of these risks.

a) Market risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market
prices. Market risk comprises three types of risk: interest rate risk, foreign currency risk and other price risk such as equity price
risk. Financial instruments affected by market risk include loans and borrowings, deposits, other financial instruments.

b) Interest rate risk

Interest rate risk can be either fair value interest rate risk or cash flow interest rate risk. Fair value interest rate risk is the risk of
changes in fair value of fixed interest bearing investments because of fluctuations in the interest rates. Cash flow interest rate
risk is the risk that future cash flows of floating interest bearing investments will vary because of fluctuations in interest rates.

The Company''s exposure to the risk of changes in market interest rates primarily to the Company''s long-term debt obligations.

Interest rate sensitivity

The sensitivity analysis below has been determined based on the exposure to interest rates at the end of the reporting period.

For floating rate liabilities, the analysis is prepared assuming the amount of the liability outstanding at the end of the reporting
period was outstanding for the whole year. A 50 basis point increase or decrease is used when reporting interest rate risk
internally to key management personnel and represents management''s assessment of the reasonably possible change in interest
rates.

c) Foreign Currency risk

The Company enters into transactions in currency other than its functional currency and is therefore exposed to foreign currency risk.
The Company analyses currency risk as to which balances outstanding in currency other than the functional currency of that Company.
The management has taken a position not to hedge this currency risk. The Company undertakes transactions denominated in foreign
currencies; consequently, exposures to exchange rate fluctuations arise. Exchange rate exposures are not hedged considering the
insignificant impact and period involved on such exposure.

d) Credit risk

Credit risk is the risk of financial loss to the company if a customer or counterparty to a financial instrument fails to meet its
contractual obligations, and arises principally from the company''s receivables from customers, deposits and loans given, investments
and balances at bank.

The Company measures the expected credit loss of trade receivables based on historical trend, industry practices and the business
environment in which the entity operates. Expected credit loss is based on actual credit loss experienced and past trends based on the
historical data.

Liquidity risk refers to the risk that the Company cannot meet its financial obligations. The company''s principal source of liquidity are
cash and cash equivalents and the cash flow i.e. generated from operations. The company consistently generated strong cash flows
from operations which together with the available cash and cash equivalents and current investment provided adequate liquidity in
short terms as well in the long term.

d) The Company does not face a significant liquidity risk with regard to its lease liability as the current assets are sufficient to meet the
obligations related to lease liability as and when they fall due.

e) Rental expense charged to the Statement of profit and loss account applying paragraph 6 of Ind AS 116, on account of low-value asset is
'' Nil and short-term leases is '' Nil.

31 Details of Corporate social responsibility expenses:

(i) The gross amount required to be spent by the Company on Corporate Social Responsibility (CSR) related activities during
the year is NIL (previous year '' 0.76 lakhs).

(ii) Amount approved by the board to be spent towards CSR activities during the year NIL (previous year '' 14.55 lakhs).

(iii) The details of amount recognized as expense in the Statement of Profit or Loss under Note 24 above on CSR related
activities is given below:

Shemaroo Entertainment Limited Employees Stock Option Scheme - 2021

The Company implemented the Employee Stock Option Scheme to grant equity based incentives to eligible employees of Company and
its subsidiaries. Shemaroo Entertainment Limited Employees Stock Option Scheme - 2021 (“Scheme”) has been approved by the Board of
Directors of the Company at their meeting held on December 7, 2021 and by the shareholders of the Company by way of special resolution
passed on January 16, 2022 for grant aggregating 15,00,000 options of the Company. The Scheme covers grant of options to the designated
employees of the Company and its Group companies, any Director, whether a whole-time director or not, including a Non-Executive Director,
but excluding the Independent Directors, Promoters or members of Promoter Group, and a director holding, directly or indirectly, more than
ten percent of the outstanding equity shares of the Company.

The vesting period of the options granted under the Scheme shall commence from the grant date, subject to minimum of 1 (One) year from
the grant date and a maximum of 5 (Five) years from the grant date. The settlement of options exercised under the Scheme is by way of
alloting equity shares of the Company.

In accordance with the Scheme, during the year the Company granted 319,146 options on July 30, 2024 and 1500 options on October 17,
2024.

33.1 Approval of financial statements

Financial statements are approved for issue by Board of Directors on 13^th May, 2025.

33.2 Disclosure under IND-AS - 108

The Company has identified “Entertainment” as the only primary reportable business segment and hence business segment disclosure as
per IND AS - 108 is not applicable. The Company has no reportable geographical segment other than India. Three customers represents more
than 10% of the Company''s total revenue during the year (Previous year: Three customers)

33.3 Details of Loans given, investment made and Guarantee given covered under section 186(4) of the Companies Act, 2013.

(a) Loan given by company to body corporate as at 31^st March 2025. (Refer Note 8(d))

(b) Investment made by the company as at 31^st March 2025. (Refer Note 5(a))

(c) No Guarantee has been given by the company as at 31^st March 2025.

Note: Dues to Micro and Small Enterprises have been determined to the extent such parties have been identified on the basis of information
collected by the Management. This has been relied upon by the auditors.

33.6 The GST Department had demanded and order recovery of inadmissible Input Tax Credit (ITC) allegedly amounting to '' 7025.62 lakhs,
along with the alleged interest at the applicable rate and penalty equal to aforementioned tax amount under Section 74 (1) of CGST Act,
2017. Penalty allegedly amounting to '' 6334.99 lakhs under Section 122(1)(ii) & (x) & Section 122 (2) (b) of CGST Act, 2017 read with
Section 20 of the IGST Act, 2017 was also imposed. The company has disputed the order and filed appeal against the said order with
the Joint Commissioner and has also filed writ with the Bombay High Court, wherein the hearing is pending. The Company had paid
'' 1,200.00 lakhs under protest to GST department in previous year and has made provision against the same in previous year.

Department had also imposed Penalty allegedly amounting to '' 133.61 crores each on Joint Managing Director, Chief Executive
Officer and Chief Financial Officer of the Company under Section 122(1A) of the CGST Act, 2017 and MGST Act, 2017. The above three
individuals has filed writ against the order, with the Bombay High Court and got interim order granting the stay on the proceedings.

The Government of India has reduced the corporate tax rates from 30% to 22% through the Taxation Laws (Amendment) Act, 2019 which is
effective from 1^st April 2019. As per the same if assessee opts new corporate tax rate, Minimum Alternative Tax provisions (MAT) provisions
are not applicable. Shemaroo Entertainment Limited has opted for new corporate tax rate from the financial year 2019-20 and the tax
liability above has been calculated accordingly.

33.10 Additional disclosures as to the amendment of Schedule III :

i) During the financial years ended 31 March 2025 and 31 March 2024, the Company has not granted any loans or advances in the nature
of loans to promoters, directors, KMPs and the related parties (as defined under the Companies Act, 2013), either severally or jointly
with any other person (a) repayable on demand or (b) without specifying any terms or period of repayment.

ii) There is no Benami Property held by the Company and there is no proceedings have been initiated or pending against the Company
for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder.

iii) There are no charges or satisfaction in relation to any debt / borrowings yet to be registered with ROC beyond the statutory period.

iv) The Company has not recorded any transaction 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.

v) Utilisation of Borrowed funds and share premium:

A) The Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or
kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding (whether
recorded in writing or otherwise) that the Intermediary shall -

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

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

B) The Company has 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 -

(i) 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

(ii) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

vi) The company has not traded or invested in crypto currency or virtual currency during the financial year or previous financial year.
vi) There are no subsidiaries in more than one layer.

33.11 Previous year''s figures are regrouped, rearranged, or recast wherever necessary to conform to this year''s presentation.

Signatures to notes “1” to “33” forming part of the standalone financial statements

For and on behalf of the Board of Shemaroo Entertainment Limited

For Mukund M. Chitale & Co. Raman Maroo Hiren Gada

Chartered Accountants Chairman and Managing Director WTD and CEO

Firm Registration No. 106655W DIN 00169152 DIN 01108194

M. M. Chitale Amit Haria Pooja Sutradhar

Partner CFO Company Secretary

Membership No. 14054 Membership No.: A40807

Place: Mumbai Place: Mumbai

Date: 13^th May, 2025 Date: 13^th May, 2025

---

Mar 31, 2024

i) The entire book value (carrying amount) of inventories is pledged as security for Cash Credit Facilities taken from banks.

ii) Quarterly statements of current assets are filed by the Company with State Bank of India, Bank of India and NKGSB Cooperative Bank Limited from whom the Company has borrowings on the basis of security of current assets. There are differences in value of current assets between the books of account and the statements submitted to banks. The reconciliation of the differences has been disclosed under Note. 16(a).

OTHER DISCLOSURES

The Company has only one class of shares referred to as equity shares having a par value of '' 10 per share. Each shareholder of equity shares is entitled to one vote per share. In the event of liquidation, the share holders are eligible to receive the remaining assets of the Company, after distribution of all preferential amounts, in proportion of their shareholding.

i) Quarterly statements of current assets are filed by the Company with State Bank of India, Bank of India and NKGSB Cooperative Bank Limited from whom the Company has borrowings on the basis of security of current assets.

The changes in the estimates are accounted for at the end of the period which has resulted to differences in the value of current assets & current liabilites between the books of account and the statements submitted to banks.

26 Employee Benefits

The Disclosures as defined in the Indian Accounting Standard 19 “Employee benefits”, are given below :

a) Defined Contribution Plans

Contribution to provident and other funds is recognised as an expense in Note 22 “Employee benefit expense” of the Statement of Profit and Loss.

b) Defined Benefit Plan

The present value of gratuity obligation is determined based on actuarial valuation using the Projected Unit Credit Method, which recognises each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation. The obligation for leave benefits (non funded) is also recognised using the Projected Unit Credit Method.

VIII) The defined benefit plans expose the Company to actuarial risks such as interest rate risk, longevity risk and salary risk:

Interest risk: A decrease in the bond interest rate will increase the plan liability.

Longevity risk: The present value of the defined benefit plan liability is calculated by reference to the best estimate of mortality of plan participants both during and after their employment. An increase in the life expectancy of the plan participants will increase the plan’s liability.

Salary risk: The present value of defined benefit plan liability is calculated by reference to the future salaries of plan participants. As such, an increase in the salary of plan participants will increase the plan’s liability.

IX) Sensitivity Analysis

The key actuarial assumptions to which the benefit obligation results are particularly sensitive to discount rate and future salary escalation rate. The following table summarizes the impact in percentage terms on the reported defined benefit obligation at the end of the reporting period arising on account of an increase or decrease in the reported assumption by 100 basis points:

The current service cost recognised as an expense is included in Note 22 ‘Employee benefits expense’ as gratuity. The remeasurement of the net defined benefit liability is included in other comprehensive income.

The estimates of rate of escalation in salary considered in actuarial valuation take into account inflation, seniority, promotion and other relevant factors including supply and demand in the employment market. The above information is certified by the Actuary.

Significant actuarial assumptions for the determination of the defined obligation are discount rate, expected salary increase and mortality. The sensitivity analysis above have been determined based on reasonably possible changes of the respective assumptions occurring at the end of the reporting period,while holding all other assumptions constant.

c) Other long term benefits :

The obligation for leave benefits (non funded) is also recognised using the Projected Unit Credit Method and accordingly the long term paid absences have been valued. The leave encashment expense is included in Note 22 ‘Employee benefits expense’.

Other financial liabilities includes current maturities of long term borrowings carried at amortised cost.

The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair value that are either observable or unobservable and consist of the following three levels:

Level 1 : Inputs are Quoted prices (unadjusted) in active markets for identical assets or liabilites.

Level 2 : Inputs are other than the quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e, as prices) or indirectly (i.e, derived from prices).

Level 3 : Inputs are not based on observable market data (unobservable inputs). Fair values are determined in whole or in part using a valuation model based on assumption that are neither supported by prices from observable current market transactions in the same instrument nor are they based on available market data. The values are carried at book value or cost.

28.2 Foreign exchange exposure

The Company does not use foreign currency forward contracts to hedge its risks associated with foreign currency fluctuations relating to firm commitments and forecasted transactions.

The Company’s foreign currency exposure not hedged by a derivative instrument or otherwise as at the end of reporting period is as follows :

29 Financial Instruments

(i) Financial risk management objective and policies

The Company’s principal financial liabilities, comprise loans and borrowings, trade and other payables. The main purpose of these financial liabilities is to finance the Company’s operations. The Company’s principal financial assets include investments, loans, trade and other receivables, and cash and cash equivalents that derive directly from its operations. The Company is exposed to market risk, credit risk and liquidity risk. The Company’s senior management oversees the management of these risks.

a) Market risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises three types of risk: interest rate risk, foreign currency risk and other price risk such as equity price risk. Financial instruments affected by market risk include loans and borrowings, deposits, other financial instruments.

b) Interest rate risk

Interest rate risk can be either fair value interest rate risk or cash flow interest rate risk. Fair value interest rate risk is the risk of changes in fair value of fixed interest bearing investments because of fluctuations in the interest rates. Cash flow interest rate risk is the risk that future cash flows of floating interest bearing investments will vary because of fluctuations in interest rates. The Company’s exposure to the risk of changes in market interest rates primarily to the Company’s long-term debt obligations.

Interest rate sensitivity

The sensitivity analysis below has been determined based on the exposure to interest rates at the end of the reporting period. For floating rate liabilities, the analysis is prepared assuming the amount of the liability outstanding at the end of the reporting period was outstanding for the whole year. A 50 basis point increase or decrease is used when reporting interest rate risk internally to key management personnel and represents management’s assessment of the reasonably possible change in interest rates.

c) Foreign Currency risk

The Company enters into transactions in currency other than its functional currency and is therefore exposed to foreign currency risk. The Company analyses currency risk as to which balances outstanding in currency other than the functional currency of that company. The management has taken a position not to hedge this currency risk. The Company undertakes transactions denominated in foreign currencies; consequently, exposures to exchange rate fluctuations arise. Exchange rate exposures are not hedged considering the insignificant impact and period involved on such exposure.

d) Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations, and arises principally from the company’s receivables from customers, deposits and loans given, investments and balances at bank.

The Company measures the expected credit loss of trade receivables based on historical trend, industry practices and the business environment in which the entity operates. Expected credit loss is based on actual credit loss experienced and past trends based on the historical data.

e) Liquidity risk

Liquidity risk refers to the risk that the Company cannot meet its financial obligations. The Company’s principal source of liquidity are cash and cash equivalents and the cash flow i.e. generated from operations. The Company consistently generated strong cash flows from operations which together with the available cash and cash equivalents and current investment provided adequate liquidity in short terms as well in the long term.

(ii) Capital Management

For the purpose of the Company’s capital management, capital includes issued capital and all other equity reserves. The Company manages its capital structure to ensure that it will be able to continue as a going concern while maximising the return to the stakeholders.

d) The Company does not face a significant liquidity risk with regard to its lease liability as the current assets are sufficient to meet the obligations related to lease liability as and when they fall due.

e) Rental expense charged to the Statement of profit and loss account applying paragraph 6 of Ind AS 116, on account of low-value asset is '' Nil and short-term leases is '' Nil.

31 Details of Corporate social responsibility expenses:

(i) The gross amount required to be spent by the Company on Corporate Social Responsibility (CSR) related activities during the year is '' 0.76 lakhs (previous year '' 23.05 lakhs).

(ii) Amount approved by the board to be spent towards CSR activities during the year '' 14.55 lakhs (previous year '' 27.91 lakhs).

32 Share Based Payments

Shemaroo Entertainment Limited Employees Stock Option Scheme - 2021

The Company implemented the Employee Stock Option Scheme to grant equity based incentives to eligible employees of Company and its subsidiaries. Shemaroo Entertainment Limited Employees Stock Option Scheme - 2021 (“Scheme”) has been approved by the Board of Directors of the Company at their meeting held on December 7, 2021 and by the shareholders of the Company by way of special resolution passed on January 16, 2022 for grant aggregating 15,00,000 options of the Company. The Scheme covers grant of options to the designated employees of the Company and its Group companies, any Director, whether a whole-time director or not, including a Non-Executive Director, but excluding the Independent Directors, Promoters or members of Promoter Group, and a director holding, directly or indirectly, more than ten percent of the outstanding equity shares of the Company.

The vesting period of the options granted under the Scheme shall commence from the grant date, subject to minimum of 1 (One) year from the grant date and a maximum of 5 (Five) years from the grant date. The settlement of options exercised under the Scheme is by way of alloting equity shares of the Company.

In accordance with the Scheme, during the year the company granted 371,350 options on May 09, 2023 and 78000 options on October 31, 2023.

The weighted average remaining contractual life for the share options outstanding as at March 31, 2024 is 1.39 years (March 31, 2023: 1.26 years)

The range of exercise prices for options outstanding at the end of the year was '' 110 to '' 167 (March 31, 2023: '' 130 to '' 167)

The weighted average fair value of options granted during the year was '' 49 (March 31, 2023: '' 69)

Expected volatility is a measure of the amount by which a price has fluctuated or is expected to fluctuate during the period. The volatility is used in the Black Scholes option pricing model is the annualized standard deviation of the continuously compounded rate of the return of the stock over a period of time. The period considered for expected volatility is based on historical volatility for a period that approximates the expected life of the options being valued.

Total expense arising from equity-settled share based payment transaction for the year is '' 170.89 lakhs (March 31, 2023: '' 189.45 lakhs) has been charged to standalone statement of profit and loss.

33 Additional information to financial statements

33.1 Approval of financial statements

Financial statements were approved for issue by Board of Directors on 24th May, 2024.

33.2 Disclosure under IND-AS - 108

The Company has identified “Entertainment” as the only primary reportable business segment and hence business segment disclosure as per IND AS - 108 is not applicable. The Company has no reportable geographical segment other than India.

Three customers represents more than 10% of the Company’s total revenue during the year (Previous year: Three customers)

(a) Loan given by company to body corporate as at 31st March 2024. (Refer Note 8(d))

(b) Investment made by the Company as at 31st March 2024. (Refer Note 5(a))

(c) No Guarantee has been given by the Company as at 31st March 2024.

33.4 Contingent Liabilities and Commitments		('' in Lakhs)
Particulars	31-Mar-24	31-Mar-23
Disputed Direct Tax Demands	33.73	-
Disputed Indirect Tax Demands	168.51	168.51
	202.24	168.51

* Refer Note 33.6

The Company is subject to legal proceedings and claims, which have arisen in the ordinary course of business. The Company’s management does not reasonably expect that these legal actions, when ultimately concluded and determined, will have a material and adverse effect on the Company’s results of operations or financial condition.

Note: Dues to Micro and Small Enterprises have been determined to the extent such parties have been identified on the basis of information collected by the Management. This has been relied upon by the auditors.

33.6 Consequent to the search operation carried out by the CGST and Central Excise department at premises of the Company on September 05, 2023, the Company has paid ''1,200 lakhs under protest to the GST Department during the quarter ended September 30, 2023, which is considered as fully recoverable. However, as prudent accounting practice, equivalent amount of provision has been made in the books of accounts. The said cost is considered under “Other Expenses” in the statement of Profit & Loss for the year ended 31st March 2024. Certain statements made by the Company officials during the search operations have been retracted by filing retraction application with Metropolitan Magistrate Court. Department has claimed that the Company had availed and utilised inadmissible input tax credit of '' 7,025.62 lakhs which is being contested by the Company.

The Government of India has reduced the corporate tax rates from 30% to 22% through the Taxation Laws (Amendment) Act, 2019 which is effective from 1st April 2019. As per the same if assessee opts new corporate tax rate, Minimum Alternative Tax provisions (MAT) provisions are not applicable. Shemaroo Entertainment Limited has opted for new corporate tax rate from the financial year 2019-20 and the tax liability above has been calculated accordingly.

33.10 Additional disclosures as to the amendment of Schedule III :

i) During the financial years ended 31 March 2024 and 31 March 2023, the Company has not granted any loans or advances in the nature of loans to promoters, directors, KMPs and the related parties (as defined under the Companies Act, 2013), either severally or jointly with any other person (a) repayable on demand or (b) without specifying any terms or period of repayment.

ii) There is no Benami Property held by the Company and there is no proceedings have been initiated or pending against the Company for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder.

iii) There are no charges or satisfaction in relation to any debt / borrowings yet to be registered with ROC beyond the statutory period.

iv) The Company has not recorded any transaction 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.

v) Utilisation of Borrowed funds and share premium:

A) The Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or kind of funds) to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding (whether recorded in writing or otherwise) that the Intermediary shall -

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

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

B) The Company has 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 -

(i) 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

(ii) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.”

vi) The Company has not traded or invested in crypto currency or virtual currency during the financial year or previous financial year.

vii) There are no subsidiaries in more than one layer.

33.11 Previous year’s figures are regrouped, rearranged, or recast wherever necessary to conform to this year’s classification.

---

Mar 31, 2018

NOTES

1 Corporate information

Shemaroo Entertainment Limited (‘Shemaroo’ or ‘the Company’) is a public company domiciled in India and incorporated on 23rd December, 2005, in the state of Maharashtra. The Company’s registered office is at Shemaroo House, Plot No. 18, Marol Cooperative Industrial Estate, Off. Andheri Kurla Road, Andheri East Mumbai - 400059, Maharashtra, India. The Company’s equity shares are listed on both BSE Limited and National Stock Exchange of India Limited.

Shemaroo is engaged in the distribution of content for Satellite Channels, Physical Formats and Emerging Digital Technologies like Mobile, Internet, Broadband, IPTV and DTH among others.

2 Significant accounting policies

2.1 Statement of Compliance

The financial statements of the company have been prepared to comply with the Indian Accounting Standards (‘Ind AS’), including the Accounting Standards notified under the relevant provisions of the Companies Act, 2013 (the Act).

Upto the year ended 31st March, 2017, the company has prepared its financial statements in accordance with the requirement of Indian 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 financial statements and the date of transition to Ind AS is 1st April, 2016.

2.2 Basis of accounting and preparation of financial statements

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

Company’s financial statements are presented in Indian Rupees (‘), which is its functional currency.

All amounts disclosed in the financial statements and notes have been rounded off to the nearest lakhs as per the requirement of Schedule III, unless otherwise stated.

All assets and liabilities have been classified as current or noncurrent as per the Company’s normal operating cycle (twelve months) and other criteria set out in the Schedule III to the Act.

2.3 Use of estimates

The preparation of financial statements requires the Management to make estimates and assumptions considered in the reported amounts of assets and liabilities and the reported income and expenses during the year. The Management believes that the estimates used in preparation of the financial statements are prudent and reasonable. Future results could differ due to these estimates and the differences between the actual results and the estimates are recognised in the periods in which the results are known/materialise.

OTHER DISCLOSURES

The Company has only one class of shares referred to as equity shares having a par value of Rs.10 per share. Each shareholder of equity shares is entitled to one vote per share. The dividend proposed by the Board of Directors is subject to approval of shareholders, except in case of interim dividend. In the event of liquidation, the share holders are eligible to receive the remaining assets of the Company, after distribution of all preferential amounts, in proportion of their shareholding.

VII) Sensitivity Analysis

The sensitivity analysis have been determined based on reasonably possible changes of the respective assumptions occurring at the end of the reporting period, while holding all other assumptions constant. The sensitivity analysis presented above may not be representative of the actual change in the projected benefit obligation as it is unlikely that the change in assumptions would occur in isolation of one another as some of the assumptions may be correlated.

Furthermore, in presenting the sensitivity analysis, the present value of the projected benefit obligation has been calculated using the projected unit credit method at the end of the reporting period, which is the same method as applied in calculating the projected benefit obligation as recognised in the balance sheet. There was no change in the methods and assumptions used in preparing the sensitivity analysis from prior years.

Notes:

Actuarial gains/losses are recognized in the period of occurrence under Other Comprehensive Income (OCI). All above reported figures of OCI are gross of taxation.

Salary escalation & attrition rate are considered as advised by the company; they appear to be in line with the industry practice considering promotion and demand & supply of the employees.

Maturity Analysis of Benefit Payments is undiscounted cashflows considering future salary, attrition & death in respective year for members as mentioned above.

Average Expected Future Service represents Estimated Term of Post - Employment Benefit Obligation.

Qualitative Disclosures

The Company has a defined benefit gratuity plan in India (unfunded). The company’s defined benefit gratuity plan is a final salary plan for employees. Gratuity is paid from company as and when it becomes due and is paid as per company scheme for Gratuity.”

Gratuity is a defined benefit plan and company is exposed to the Following Risks:

Interest rate risk: A fall in the discount rate which is linked to the G.Sec. Rate will increase the present value of the liability requiring higher provision.

Salary Risk: The present value of the defined benefit plan liability is calculated by reference to the future salaries of members. As such, an increase in the salary of the members more than assumed level will increase the plan’s liability.

Asset Liability Matching Risk: The plan faces the ALM risk as to the matching cash flow. Company has to manage pay- out based on pay as you go basis from own funds.

Mortality risk: Since the benefits under the plan is not payable for life time and payable till retirement age only, plan does not have any longevity risk.

During the year, the company has changed the benefit scheme in line with Payment of Gratuity Act, 1972 by increasing monetary ceiling from 10 lakhs to 20 lakhs. Change in liability (if any) due to this scheme change is recognised as past service cost.

Gratuity plan is unfunded.

Company has taken collective personal guarantee from related parties to the tune of Rs. 20,895 lakhs, against its borrowings from the banks. The above loans from related parties are unsecured and payable on demand.

3 (a) Compensation of Key Managerial Personnel

The remuneration of director and other member of Key Managerial Personnel during the year was as follows:

4 First time IND AS adoption

For all periods upto and including the year ended 31^st March 2017, the Company had prepared its financial statements in accordance with the Accounting Standards notified under section 133 of the Companies Act 2013, read together with Rule 7 of the Companies (Accounts) Rules, 2014 (Previous GAAP). This note explains the principal adjustments made by the Company in restating its financial statements prepared under Previous GAAP

5.1 Mandatory exception and optional exemptions availed on first time adoption of Ind AS. Exception: Impairment of financial assets

The Company has applied the impairment requirements of Ind AS 109 retrospectively.

Exemptions: Investment in Subsidiary, Joint Ventures and Associates

The Company has elected to adopt the carrying value under previous GAAP as on the date of transition i.e, 1st April, 2016.

Deemed cost for property, plant and equipment and intangible assets

The Company has elected to continue with the carrying value of all of its property, plant and equipment and intangible assets recognised as of April 1, 2016 (transition date) measured as per the previous GAAP and use that carrying value as its deemed cost as of the transition date.

ii) 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.

5.2 Reconciliations between Previous GAAP and Ind AS

The following reconciliations provides the effect of transition to Ind AS from IGAAP in accordance with Ind AS 101

(a) Balance Sheet and equity reconciliation

(b) Profit and Loss and Other Comprehensive Income reconciliation

(c) Adjustment to Statement of Cash Flows

5.3 Explanations for reconciliation of Balance Sheet and Statement of Profit and Loss and Other Comprehensive Income as previously reported under IGAAP to IND AS.

(a) Fair Value of Financial Assets and Liabilties:

The Company has valued financial assets and Liabilties (other than Investment in subsidiaries, associate and joint ventures which are accounted at cost), at fair value. Impact of fair value changes as on the date of transition, is recognised in opening reserves and changes thereafter are recognised in Statement of Profit and Loss.

(b) Remeasurements of defined benefit plans:

Remeasurement i.e, actuarial gains or loss on gratuity are recognised in Other Comprehensive Income instead of Statement of Profit and Loss. Under the Previous GAAP, these remeasurements were forming part of the Statement of Profit and Loss for the year.

(c) Tax Adjustments

Tax Adjustments include deferred tax impact on account of differences between Previous GAAP and Ind AS.

6 Financial Instruments

6.1 Fair value measurements

The following table provides the fair value measurement hierarchy of the Company’s assets and liabilities:

* Other financial liabilities includes current maturities of long term borrowings carried at fair value through profit and loss/amortised cost.

The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair value that are either observable or unobservable and consist of the following three level:

Level 1 : Inputs are Quoted prices (unadjusted) in active markets for identical assets or liabilites.

Level 2 : Inputs are other than the quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e, as prices) or indirectly (i.e, derived from prices).

Level 3 : Inputs are not based on observable market data (unobservable inputs). Fair values are determined in whole or in part using a valuation model based on assumption that are neither supported by prices from observable current market transactions in the same instrument nor are they based on available market data.

6.2 Foreign exchange exposure

The Company does not use foreign currency forward contracts to hedge its risks associated with foreign currency fluctuations relating to firm commitments and forecasted transactions.

The Company’s foreign currency exposure not hedged by a derivative instrument or otherwise as at the end of reporting period is as follows :

7 Financial Instruments

(I) Financial risk management objective and policies

The Company’s principal financial liabilities, comprise loans and borrowings, trade and other payables. The main purpose of these financial liabilities is to finance the Company’s operations. The Company’s principal financial assets include investments, loans, trade and other receivables, and cash and cash equivalents that derive directly from its operations. The Company is exposed to market risk, credit risk and liquidity risk. The Company’s senior management oversees the management of these risks.

a) Market risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises three types of risk: interest rate risk, foreign currency risk and other price risk such as equity price risk. Financial instruments affected by market risk include loans and borrowings, deposits, other financial instruments.

b) Interest rate risk

Interest rate risk can be either fair value interest rate risk or cash flow interest rate risk. Fair value interest rate risk is the risk of changes in fair value of fixed interest bearing investments because of fluctuations in the interest rates. Cash flow interest rate risk is the risk that future cash flows of floating interest is bearing invetsments will vary because of fluctuations in interest rates. The Company’s exposure to the risk of changes in market interest rates primarily linked to the Company’s long-term debt obligations.

Interest rate sensitivity

The sensitivity analysis below has been determined based on the exposure to interest rates at the end of the reporting period. For floating rate liabilities, the analysis is prepared assuming the amount of the liability outstanding at the end of the reporting period was outstanding for the whole year. A 50 basis point increase or decrease is used when reporting interest rate risk internally to key management personnel and represents management’s assessment of the reasonably possible change in interest rates.

c) Foreign Currency risk

The Company enters into transactions in currency other than its functional currency and is therefore exposed to foreign currency risk. The Company analyses currency risk as to which balances outstanding in currency other than the functional currency of that company. The management has taken a position not to hedge this currency risk. The Company undertakes transactions denominated in foreign currencies; consequently, exposures to exchange rate fluctuations arise. Exchange rate exposures are not hedged considering the insignificant impact and period involved on such exposure.

d) Credit risk

Credit risk is the risk of financial loss to the company if a customer or counterparty to a financial instrument fails to meet its contractual obligations, and arises principally from the company’s receivables from customers, deposits and loans given, investments and balances at bank.

The company measures the expected credit loss of trade receivables based on historical trend, industry practices and the business environment in which the entity operates. Expected credit loss is based on actual credit loss experienced and past trends based on the historical data.

e) Liquidity risk

Liquidity risk refers to the risk that the company cannot meet its financial obligations. The company’s principal source of liquidity are cash and cash equivalents and the cash flow that is generated from operations. The company consistently generated strong cash flows from operations which together with the available cash and cash equivalents and current investment provided adequate liquidity in short term as well in the long term.

The table below provides details regarding the contractual maturities of financial liabilities including estimated interest payments.

“Current maturities of borrowings forms part of other financial liabilities. Hence, same is not considered separately in borrowings.

(ii) Capital Management

For the purpose of the Company’s capital management, capital includes issued capital and all other equity reserves. The Company manages its capital structure to ensure that it will be able to continue as a going concern while maximising the return to the stakeholders.

8 Leases

(i) Finance lease

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee. All other leases are classified as operating leases.

(ii) Operating lease

Lease of assets under which all the risks and rewards of ownership are effectively retained by the lessor are classified as operating leases. Operating Lease payments / revenue are recognised on straight line basis over the lease period in the statement of profit and loss account unless increase is on account of inflation.

(a) Assets taken on Operating Lease:

The Company has taken office premises and furniture and fixtures under lease agreements that are renewable on a periodic basis at the option of both the Lessor and the Lessee.

(b) Assets given on Operating Lease

The Company has given part of its building property under operating lease agreement. The initial term of the lease is for 3 years. The lease rental revenue for the year is Rs. 39.72 Lakhs.(In previous year Rs. 39.72 Lakhs).

9 Additional information to financial statements

9.1 Approval of financial statements

Financial statements were approved for issue by Board of Directors on 15^th May’2018.

9.2 Segment Reporting

The Company has identified “Entertainment” as the only primary reportable business segment and hence business segment disclosure as per IND AS - 108 is not applicable. The Company has no geographical segment other than India.

9.3 Events after Reporting Period

Dividend on equity shares is approved by the Board of Directors in their meeting held on 15^th May’18, and is subject to approval of shareholders at the annual general meeting and hence not recognised as a liability (including Dividend Distribution Tax thereon). Appropriation of dividend is done in the financial statements post approval by the shareholders. Proposed dividend on equity shares for the year ended 31^st March’18: Rs. 1.55 per share and the cash flow including Dividend Distribution Tax aggregates to ‘ 507.92 lakhs.

9.4 Details of Loans given, investment made and Guarantee given covered under section 186(4) of the Companies Act,2013.

(a) Loan given by company to body corporate as at 31^st March’18. (Refer note 8(c))

(b) Investment made by the company as at 31^st March’18. (Refer note 5(a))

(c) No Guarantee has been given by the company as at 31^st March’18.

The management believes that the ultimate outcome of these proceedings will not have a material adverse effect on the Company’s financial position and results of operations.

9.5 Prior Year Comparatives

Previous year’s figures are regrouped, rearranged, or recast wherever necessary to conform to this year’s classification.

9.6 Details of dues to micro and small enterprises as defined under the MSMED Act, 2006

Based on the information available with the Company, the balance due to micro and small enterprises as defined under the MSMED Act, 2006 is Nil during 2017-18 (Previous year 2016-17 Nil) and no interest has been paid or is payable under the terms of the MSMED Act, 2006.

9.7 Custom duty and interest thereon aggregating Rs. 104.24/- Lakhs, is paid under protest in the Financial Year Ended 31.03.2008. The same is included in Other Non-Current Assets.

9.8 Disclosure under IND-AS - 108

For FY 2017-2018, revenue from top 2 customers accounted for Rs. 16,992 lakhs. For FY 2016-2017, no single customer accounted for more than 10% of the revenues.

9.9 An amount of Rs. 3.37/- Lakhs grouped under other financial liabilites in the balance sheet is an amount pending to be repaid to the bidders of the initial public offer of equity shares of the Company which is held and maintained by HDFC Bank Limited, Refund Bankers to the IPO.

9.10 Corporate Social Responsibility (CSR)

CSR amount required to be spent as per Section 135 of the Companies Act, 2013, read with Schedule VII thereof by the Company during the year is Rs. 164 Lakhs and company has spent Rs. 166 Lakhs.

---

Mar 31, 2017

1. Related party disclosures

a Names of related parties and description

of relationship Subsidiaries: Shemaroo Entertainment INC, USA

Shemaroo Entertainment (UK) Private Ltd. Shemaroo Films Private Limited Contentino Media LLP Shemaroo ThinkTank Entertainment LLP

Key Management Personnel: Mr. Buddhichand Maroo

Mr. Raman Maroo Mr. Atul Maru Mr. Jai Maroo Mr. Hiren Gada Mr. Vinod Karani Mr. Hemant Karani Mr. Bipin Dharod Mr. Ketan Maru Mr. Harakhchand Gada Mrs. Kranti Gada Mrs. Smita Maroo Ms. Mansi Maroo Mr. Dipesh Gosar Mr. Ankit Singh

Relatives of Key Management Personnel: Mrs. Leelaben Maroo (wife ofMr. Buddhichand Maroo)

Mrs. Kastur Maroo (wife of Mr. Raman Maroo)

Mrs. Sangeeta Maru (wife of Mr. Atul Maru)

Mrs. Radhika Maroo (daughter of Mr. Raman Maroo) Ms. Nirvi Maru (daughter of Mr. Atul Maru)

Ms. Urvi Maru (daughter of Mr. Atul Maru)

Mrs. Madhuri Gada (wife of Mr. Hiren Gada)

Mrs. Varsha Karani (wife of Mr. Vinod Karani)

Mrs. Harashada Karani (wife of Mr.Hemant Karani)

Ms. Sneha Karani (Daughter of Mr. Hemant Karani)

Entities having Common Control: Atul H. Maru (HUF)

Buddhichand H. Maroo (HUF) Raman H. Maroo (HUF)

Shemaroo Corporation Sneha Arts

Shemaroo Holdings Private Limited ThinkWalnut Digital Private Limited Technology and Media Group PTE. Ltd.

Taurean Estate Development LLP BrajHoldings Pte. Ltd.

Associate Company: Vistaas Digital Media Private Limited

b Related party transactions Refer Noteb.

2. Details of dues to micro and small enterprises as defined under the MSMED Act, 2006

There are no amounts payable/or claims from suppliers in accordance with the provisions of Micro, Small and Medium Enterprises Development Act, 2006 and therefore, no disclosures have been made in the financial statements.

3. Custom duty and interest thereon aggregating Rs.1,04,24,082/-, is paid under protest in the Financial Year Ended 31.03.2008. The same is included in Short Term Loans & Advances.

4. An amount of Rs. 3,37,369/- standing as Current Liability in the balance sheet is an amount pending to be repaid to the bidders of the initial public offer of equity shares of the Company which is held and maintained by HDFC Bank Limited, Fort Branch, Mumbai, Refund Bankers to the IPO.

Benefit Scheme (2016-17)

15 days salary for each year of service subject to a maximum of Rs. 10,00,000/The formula to calculate day''s salary is l/26*monthly salary

The management believes that the ultimate outcome of these proceedings will not have a material adverse effect on the Company''s financial position and results of operations.

5. The Management has recommended dividend of Rs. 1.40 per fully paid-up equity shares of Rs. 10 each (i.e. 14% of the paid-up equity share capital of Company) as final dividend for financial year 2016-17.

6. Others

Previous year figures are rearranged or regrouped wherever necessary to confirm to current year''s presentation.

---

Mar 31, 2016

1. Details of dues to micro and small enterprises as defined under the MSMED Act, 2006

The Company has not received any information from the “suppliers” regarding their status under the Micro Small and Medium Enterprises Development Act, 2006 & hence, they have been included under Trade Payables.

2. Custom duty and interest thereon aggregating Rs. 1,04,24,082/-, is paid under protest in the Financial Year Ended 31.03.2008. The same is included in Short Term Loans & Advances.

3. An amount of Rs.3,50,374/- standing as Current Liability in the balance sheet is an amount pending to be repaid to the bidders of the initial public offer of equity shares of the Company which is held and maintained by HDFC Bank Limited, Fort Branch, Mumbai, Refund Bankers to the IPO.

4. Others

Previous year figures are rearranged or regrouped wherever necessary to conform to current year’s presentation

---

Mar 31, 2015

1. For the period of five years immediately preceding the date as at which the Balance Sheet is prepared :

a) Aggregate number of shares alloted as fully paid-up pursuant to the contracts without payment being received in cash is NIL

b) 1,48,86,678 equity shares were issued as bonus on August 29, 2011 in the ratio of 3:1 and 41,10372 equity shares were issued as bonus on March 26, 2011 in the ratio of 9:1.

c) Aggregate number of shares bought back is NIL

2. Related party disclosures

a Names of related parties and description of relationship Subsidiaries:

Shemaroo Entertainment INC, USA Shemaroo Entertainment (UK) Private Ltd. Shemaroo Films Private Limited

Key Management Personnel:

Mr. Buddhichand Maroo Mr. Raman Maroo Mr. Atul Maru Mr. Jai Maroo Mr. Hiren Gada Mr. Vinod Karani Mr. Hemant Karani Mr. Bipin Dharod Mr. Ketan Maru Mr. Harakhchand Gada Mrs. Kranti Gada Mrs. Smita Maroo Ms. Mansi Maroo Mr. Ankit Singh

Relatives of Key Management Personnel:

Mrs. Leelaben Maroo (wife of Mr. Buddhichand Maroo) Mrs. Kastur Maroo (wife of Mr. Raman Maroo) Mrs. Sangeeta Maru (wife of Mr. Atul Maru) Mrs. Radhika Maroo (daughter of Mr. Raman Maroo) Ms. Nirvi Maru (daughter of Mr. Atul Maru) Ms. Urvi Maru (daughter of Mr. Atul Maru) Mrs. Madhuri Gada (wife of Mr. Hiren Gada) Mrs. Varsha Karani (wife of Mr. Vinod Karani)

Entities having Common Control:

Atul H. Maru (HUF) Buddhichand H. Maroo (HUF) Raman H. Maroo (HUF) Shemaroo Corporation Sneha Arts Shemaroo Holdings Private Limited Think Walnut Digital Private Limited Technology and Media Group PTE. Ltd. Taurean Estate Development LLP Braj Holdings Pte. Ltd.

Associate Company:

Vistaas Digital Media Private Limited

b Related party transactions

Refer Note b.

3. Details of dues to micro and small enterprises as defined under the MSMED Act, 2006

The Company has not received any information from the "suppliers” regarding their status under the Micro Small and Medium Enterprises Development Act, 2006 & hence, they have been included under Trade Payables.

4. Custom duty and interest thereon aggregating Rs. 1,04,24,082/-, is paid under protest in the Financial Year Ended 31.03.2008. The same is included in Short Term Loans & Advances.

5. An amount of Rs. 7,15,959/- standing as Current Liability in the balance sheet is an amount pending to be repaid to the bidders of the initial public offer of equity shares of the Company which is held and maintained by HDFC Bank Limited, Fort Branch, Mumbai, Refund Bankers to the IPO.

6. Contingent Liabilities

Particulars 31-Mar-15 31-Mar-14

Disputed Direct Tax Demands 98.46 75.24

Disputed Indirect Tax Demands 155.15 161.01

Legal Cases against the company 235.00 227.48

488.60 463.73

The management believes that the ultimate outcome of these proceedings will not have a material adverse effect on the Company's financial position and results of operations.

7.Others

Previous year figures are rearranged or regrouped wherever necessary to conform to current year's presentation

---

Mar 31, 2014

1 Details of dues to micro and small enterprises as defned under the MSMED Act, 2006

The Company has not received any information from the "suppliers" regarding their status under the Micro Small and Medium Enterprises Development Act, 2006 & hence, they have been included under Trade Payables.

Particulars 31-Mar-14 31-Mar-13 2 Contingent Liabilities

Estimated amount of contracts remaining to be executed on capital account - 5.00

Disputed Direct Tax Demands 75.24 -

Disputed Indirect Tax Demands 161.01 -

Bank Guarantee 20.00 12.00

Legal Cases against the company 227.48 180.51

483.73 197.51

3 Others

Previous year figures are rearranged or regrouped wherever necessary to conform to current year''s presentation

---

Mar 31, 2013

1. Details of dues to micro and small enterprises as defined under the MSMED Act, 2006

The Company has not received any information from the "suppliers" regarding their status under the Micro Small and Medium Enterprises Development Act, 2006 & hence, they have been included under Trade Payables.

2. Custom duty and interest thereon aggregating Rs. 1,04,24,082/-, is paid under protest in the Financial Year Ended 31.03.2008. The same is included in Short Term Loans & Advances.

3. Contingent Liabilities (Rs. in lacs), except as otherwise stated Particulars March 31, 2013 March 31, 2012

Estimated amount of contracts remaining to be executed on capital account 5.00 5.00

Bank Guarantee 12.00 5.00

Legal Cases against the company 180.51 180.51

Bills of exchange discounted with Bank - 4,332.19

Total 197.51 4,522.70

4. Others

Previous year figures are rearranged or regrouped wherever necessary to conform to current year''s presentation.

---

Mar 31, 2011

A) Contingent Liabilities (Rs. in ''000)

Estimated amount of contracts remaining to be executed on capital account 125 48

Disputed Direct Tax Demands - 20,297

Disputed Sales Tax Demands - 34,240

Legal Cases against the company 18,051 18,513

Uncalled liability on Partly Paid Shares 34,200 -

Total 52,376 73,097

b) Previous year figures are rearranged or regrouped wherever necessary to conform to current year''s presentation.

---

Mar 31, 2010

A) Contingent Liabilities not provided for (Rs.in ''000)

Particulars 31-Mar-10 31-Mar-09

Estimated amount of contracts remaining to be executed on capital account 48 -

Disputed Direct Tax Demands 20,297 -

Disputed Sales Tax Demands 34,240 26,037

Disputed Service Tax Demands - 1,588

Legal Cases against the company 18,513 18,513

Total 73,097 46,137

b) Previous year figures are rearranged or regrouped wherever necessary to conform to current year''s presentation.