Notes to Accounts of Sri Adhikari Brothers Television Network Ltd.

Mar 31, 2025

1.3 Provisions, Contingent Liabilities and Contingent Assets

A provision is recognized when the company has a present obligation as a result of past event and it is probable that an outflow of
resources will be required to settle the obligation, in respect of which a reliable estimate can be made. If the effect of 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 recognized as a finance cost.

A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably will
not require an outflow of resources embodying economic benefits or the amount of such obligation cannot be measured reliably.
When there is a possible obligation or a present obligation in respect of which likelihood of outflow of resources embodying
economic benefits is remote, no provision or disclosure is made.

Contingent assets are not recognised in the financial statements, however they are disclosed where the inflow of economic
benefits is probable. When the realisation of income is virtually certain, then the related asset is no longer a contingent asset and
is recognised as an asset.

1.4 Fixed Assets

Property, Plant and Equipment

Property, Plant and Equipment are stated at cost of acquisition as reduced by accumulated depreciation and impairment losses, if
any. Cost comprises the purchase price and attributable cost for bringing the asset to its working condition for its intended use.

Intangible Fixed Assets

Intangible Fixed Assets are carried at cost less accumulated amortisation and impairment losses, if any. The Cost of intangible
assets comprises of cost of purchase, production cost and any attributable expenditure on making the asset ready for its intended
use.

Capital Work in Progress :

Capital work in progress are assets that are not yet ready for their intended use which comprises cost of purchase and related
attributable expenditures.

1.5 Depreciation / Amortisation
Property, Plant and Equipment

Depreciation on Property, Plant and Equipment has been provided based on the useful life as follows:’Depreciation on Property,
Plant and Equipment has been provided on a straight line basis based on the useful life as follows:

Intangible Fixed Assets

Intangible fixed assets comprising of Business & Commercial right are amortised over a period from 5 to 10 years and Software
are amortised over a period of 3 years on Pro Rata Basis.

1.6 Inventories

Cassettes and tapes are charged of fully in the year of purchase.

Inventories, if any, are valued at lower of cost or net realisable value. The cost of each episode of program is determined on the
basis of average cost. Films under production are valued at cost.

Where carrying amount of inventories does not exceeds recoverable amount in the ordinary course of business or where
management does not anticipate any future economic benefit flowing from it appropriate loss has been provided.

1.7 Revenue Recognition

For Content Production and Distribution

Revenue from sale of Business & Comercial rights is recognised when the relevant program/content is delivered/transferred.

In respect of Interest Income, it is recognized on a time proportion basis taking into account the amount outstanding and the rate
applicable.

1.8 Foreign Currency Transactions
Initial Recognition

Foreign currency transactions are recorded in the reporting currency i.e. rupee value, by applying the exchange rate, between the
reporting currency and the foreign currency, to the foreign currency amount at the date of the transaction.

Conversion

Foreign currency monetary items are reported using the closing rate. Non-monetary items which are carried in terms of historical
cost denominated in a foreign currency are reported using the exchange rate at the date of the transaction.

Exchange Differences

Exchange differences arising on the settlement of monetary items or conversion of monetary items at balance sheet date are
recognised as income or expenses.

1.9 Employee Benefits
Defined Benefit Plan

Long term Employee benefits for Defined benefit schemes, such as leave encashment and gratuity, are provided on the basis of
actuary valuation taken at the end of each year.

All expenses represented by current service cost, past service cost, if any, and net interest on the defined benefit liability/ (asset)
are recognized in the Statement of Profit and Loss. Remeasurements of the net defined benefit liability/ (asset) comprising actuarial
gains and losses (excluding interest on the net defined benefit liability/ (asset)) are recognised in Other Comprehensive Income
(OCI). Such remeasurements are not reclassified to the statement of profit and loss, in the subsequent periods.

Other short -term employee benefits are charged to profit & loss account on accrual basis.

1.10 Borrowing Cost

Borrowings are initially recognised at net of transaction costs incurred and measured at amortised cost. Any difference between the
proceeds (net of transaction costs) and the redemption amount is recognised in the Statement of Profit and Loss over the period
of the borrowings using the EIR.

Preference shares, which are mandatorily redeemable on a specific date are classified as liabilities. The dividend, on these
preference shares is recognised as finance costs in the Statement of Profit and Loss.

Borrowing costs directly attributable to development of qualifying asset are capitalized till the date qualifying asset is ready for put
to use for its intended purpose. All other Borrowing costs are recognized as expense and charged to profit & loss account.

1.11 Leases
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.

1.12 Financial Instruments
I) Financial Assets

a Initial recognition and measurement

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

b Subsequent Measurement

Financial assets carried at amortised cost (AC)

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

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

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

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

A financial asset which is not classified in any of the above categories are measured at FVTPL.
c Investment in subsidiaries, Associates and Joint Ventures

The Company has accounted for its investments in subsidiaries, associates and joint venture at fair value.
d Impairment of financial assets

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

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

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

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

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

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

e De-recognition of financial instruments

The Company derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire
or it transfers the financial asset and the transfer qualifies for de-recognition under Ind AS 109. A financial liability (or a part
of a financial liability) is de-recognized from the Company’s Balance Sheet when the obligation specified in the contract is
discharged or cancelled or expires.

II) Financial Liabilities

a Initial Recognition and Measurement

All Financial Liabilities are recognized at fair value and in case of borrowings, net of directly attributable cost, Fee of recurring
nature are directly recognized in the Statement of Profit and Loss as finance cost.

b For trade and other payables maturing within one year from the balance sheet date, the carrying amounts approximate fair
value due to the short maturity of these instruments.

1.13 Taxes on Income

Tax expense comprises both current and deferred taxes. Current Tax provision as per Income Tax Act, 1961, is made based on
the tax liability computed after considering tax allowances and exemptions at the balance sheet date.

Deferred tax reflects the impact of current year timing differences between taxable income and accounting income for the year
and reversal of timing differences of earlier years. Deferred tax is measured based on the tax rates and the tax laws enacted or
substantively enacted at the balance sheet date.

Deferred tax asset is recognized only to the extent that there is reasonable certainty that sufficient future taxable income will
be available against which such deferred tax assets can be realized. Deferred tax assets are recognized on carry forward of
unabsorbed depreciation and tax losses only if there is virtual certainty that such deferred tax assets can be realized against future
taxable profits.

The carrying amount of Deferred Tax Assets are reviewed at each balance sheet date and written down or written up, to reflect the
amount that is reasonably or virtually certain, as the case may be, to be realized.

1.14 Earning Per Share

Basic earnings per share is calculated by dividing the net profit or loss for the period attributable to equity shareholders by the
weighted average number of equity shares outstanding during the period. Dilutive earning per shares is computed and disclosed
using the weighted average number of equity and dilutive equity equivalent shares outstanding during the year, except when the
result would be anti-dilutive.

1.15 Impairment of Assets

The carrying values of assets / cash generating units at each Balance Sheet date are reviewed for impairment. If any indication
of impairment exists, the recoverable amount of such assets is estimated and impairment is recognised, if the carrying amount of
these assets exceeds their recoverable amount. The recoverable amount is the greater of the net selling price and their value in
use. Value in use is arrived at by discounting the future cash flows to their present value based on an appropriate discount factor.

The management assessed that fair value of financial liabilities approximate their carrying amounts largely due to the short-term
maturities of these instruments.

27 “The Resolution Plan submitted by M/s. SAB Events and Governance Now Media Limited, M/s. Marvel Media Private Limited, Mr.
Ravi Adhikari and Mr. Kailasnath Adhikari for the Company had been approved by the Hon’ble NCLT, Mumbai bench vide its order
dated December 8, 2023. The said approved Resolution Plan contains the details and timelines for settlements of various financial
creditors (secured creditors) and operational creditors, statutory dues and litigation claims of the Company. During the previous
financial year 2023-2024, the Company had given the financial impact of the said approved Resolution plan by reducing all its
liabilities / reduction of equity / preference share capital, writing off various assets, creating capital reduction reserve disclosed in
Other Equity as per generally accepted accounting principles in India.”

27(i) As per Resolution Plan approved by Hon’ble NCLT Order dated December 8, 2023, the Company has sold one of its immovable
properties located in Kandivali (Mumbai) during the year ended March 31, 2025. The loss on sale of such asset and other cost
pertaining to such sale of asset amounting to Rs. 2,284.28 Lakhs is shown as an Exceptional Item during the year ended March
31,2025.

28 Financial Risk Management

The Company’s business activities are exposed to a variety of financial risks, namely liquidity risk, market risks and credit risk.
The Company’s senior management has the overall responsibility for establishing and governing the Company’s risk management
framework. The Company has constituted a core Management Committee, which is responsible for developing and monitoring the
Company’s risk management policies. The Company’s risk management policies are established to identify and analyse the risks
faced by the Company, to set and monitor appropriate risk limits and controls, periodically review the changes in market conditions
and reflect the changes in the policy accordingly. The key risks and mitigating actions are also placed before the Audit Committee
of the Company.

A) Liquidity risk

Liquidity risk is the risk that the Company will face in meeting its obligations associated with its financial liabilities.The Company’s
approach in managing liquidity is to ensure that it will have sufficient funds to meet its liabilities when due without incurring
unacceptable losses.

B) 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, currency risk and other price risk. Financial instruments
affected by market risk include loans and borrowings and deposits.

Interest Rate Risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in

market interest rates. This risk exist mainly on account of borrowings of the Company. However, all these borrowings are at
fixed interest rate and hence the exposure to change in interest rate is insignificant.

Foreign Currency Risk

Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in
foreign exchange rates. The Company is not exposed to significant foreign currency risk as at the respective reporting dates.

C) Credit Risk

Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer contract, leading
to a financial loss. The Company is exposed to credit risk from its operating activities (primarily trade receivables) and other
financial assets.

i) Trade Receivables

“Customer credit risk is managed by each business unit subject to the Company’s established policy, procedures and
control relating to customer credit

risk management. An impairment analysis is performed at each reporting date on an individual basis for major trade
receivables.”

ii) Other Financial Assets

Credit risk from balances with banks and financial institutions is managed by the Company in accordance with the Company’s
policy. Investments of surplus funds are made only in highly marketable debt instruments with appropriate maturities to
optimise the cash return on instruments while ensuring sufficient liquidity to meet its liabilities.

D) Excessive Risk Concentration

Concentrations arise when a number of counterparties are engaged in similar business activities, or activities in the same
geographical region, or have economic features that would cause their ability to meet contractual obligations to be similarly
affected by changes in economic, political or other conditions. Concentrations indicate the relative sensitivity of the Company’s
performance to developments affecting a particular industry.

In order to avoid excessive concentrations of risk, the Company’s policies and procedures include specific guidelines to focus
on the maintenance of a diversified portfolio. Identified concentrations of credit risks are controlled and managed accordingly.

29 The figures have been re-grouped / re-arranged / reclassified / reworked wherever necessary to conform to the current year
accounting treatment.

30 Disclosures required under Section 22 of the Micro, Small and Medium Enterprises Development Act, 2006

Company has not received any confirmation from its vendors that whether they are covered under the Micro, Small and Medium
Enterprises Development Act, 2006, hence the amounts unpaid at the year end together with interest paid / payable under this Act
cannot be identified.

31 Additional Regulatory Information as required by schedule- III of Companies Act, 2013

i) There are no Immovable Property held in name of the Company.

ii) The company has not revalued its Property, Plant and equipment and intangible Assets as defined under rule 2 of Companies
(Registered Valuers and Valuation) Rules, 2017.

iii) The Company has not granted any loans or advances that are in the nature of loans to promoters, directors, KMPs and the
related parties (as defined under Companies Act, 2013), either severally or jointly with any other person, that are:

(a) repayable on demand or

(b) without specifying any terms or period of repayment

iv) The company does not hold any Benami property. Further, 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 the rules
made thereunder.

v) The Company has no borrowings from bank or financial institutions on security of current assets as on 31st March 2025.

vi) The Company has no relationship and transactions with struck off companies.

vii) There are no charges or satisfaction to be registered with ROC during the statutory period.

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

As per our report of even date

For Hitesh Shah & Associates For and on behalf of the Board of Directors

Chartered Accountants
FRN : 103716W

Hitesh Shah Ravi Gautam Adhikari Kailashnath M. Adhikari

Membership No. 040999 Chairman Managing Director

- DIN : 02715055 DIN : 07009389

Mumbai Suresh Khilari

Date : May 27, 2025 Chief Finacial Officer

---

Mar 31, 2024

1.3 Provisions, Contingent Liabilities and Contingent Assets

A provision is recognized when the company has a present obligation as a result of past event and it is probable that an outflow of resources will be required to settle the obligation, in respect of which a reliable estimate can be made. If the effect of 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 recognized as a finance cost.

A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably will not require an outflow of resources embodying economic benefits or the amount of such obligation cannot be measured reliably. When there is a possible obligation or a present obligation in respect of which likelihood of outflow of resources embodying economic benefits is remote, no provision or disclosure is made.

Contingent assets are not recognised in the financial statements, however they are disclosed where the inflow of economic benefits is probable. When the realisation of income is virtually certain, then the related asset is no longer a contingent asset and is recognised as an asset.

1.4 Fixed Assets

Property, Plant and Equipment

Property, Plant and Equipment are stated at cost of acquisition as reduced by accumulated depreciation and impairment losses, if any. Cost comprises the purchase price and attributable cost for bringing the asset to its working condition for its intended use.

Intangible Fixed Assets

Intangible Fixed Assets are carried at cost less accumulated amortisation and impairment losses, if any. The Cost of intangible assets comprises of cost of purchase, production cost and any attributable expenditure on making the asset ready for its intended use.

Capital Work in Progress :

Capital work in progress are assets that are not yet ready for their intended use which comprises cost of purchase and related attributable expenditures.

1.5 Depreciation/Amortisation Property, Plant and Equipment

Depreciation on Property, Plant and Equipment has been provided based on the useful life as follows:''Depreciation on Property, Plant and Equipment has been provided on a straight line basis based on the useful life as follows:

Intangible Fixed Assets

Intangible fixed assets comprising of Business & Commercial right are amortised over a period from 5 to 10 years and Software are amortised over a period of 3 years on Pro Rata Basis.

1.6 Inventories

Cassettes and tapes are charged of fully in the year of purchase.

Inventories, if any, are valued at lower of cost or net realisable value. The cost of each episode of program is determined on the basis of average cost. Films under production are valued at cost.

Where carrying amount of inventories does not exceeds recoverable amount in the ordinary course of business or where management does not anticipate any future economic benefit flowing from it appropriate loss has been provided.

1.7 Revenue Recognition

For Content Production and Distribution

Revenue from sale of Business & Comercial rights is recognised when the relevant program / content is delivered / transferred.

In respect of Interest Income, it is recognized on a time proportion basis taking into account the amount outstanding and the rate applicable.

1.8 Foreign Currency Transactions Initial Recognition

Foreign currency transactions are recorded in the reporting currency i.e. rupee value, by applying the exchange rate, between the reporting currency and the foreign currency, to the foreign currency amount at the date of the transaction.

Conversion

Foreign currency monetary items are reported using the closing rate. Non-monetary items which are carried in terms of historical cost denominated in a foreign currency are reported using the exchange rate at the date of the transaction.

Exchange Differences

Exchange differences arising on the settlement of monetary items or conversion of monetary items at balance sheet date are recognised as income or expenses.

1.9 Employee Benefits Defined Benefit Plan

Long term Employee benefits for Defined benefit schemes, such as leave encashment and gratuity, are provided on the basis of actuary valuation taken at the end of each year.

All expenses represented by current service cost, past service cost, if any, and net interest on the defined benefit liability/ (asset) are recognized in the Statement of Profit and Loss. Remeasurements of the net defined benefit liability/ (asset) comprising actuarial gains and losses (excluding interest on the net defined benefit liability/ (asset)) are recognised in Other Comprehensive Income (OCI). Such remeasurements are not reclassified to the statement of profit and loss, in the subsequent periods.

Other short -term employee benefits are charged to profit & loss account on accrual basis.

1.10 Borrowing Cost

Borrowings are initially recognised at net of transaction costs incurred and measured at amortised cost. Any difference between the proceeds (net of transaction costs) and the redemption amount is recognised in the Statement of Profit and Loss over the period of the borrowings using the EIR.

Preference shares, which are mandatorily redeemable on a specific date are classified as liabilities. The dividend, on these preference shares is recognised as finance costs in the Statement of Profit and Loss.

Borrowing costs directly attributable to development of qualifying asset are capitalized till the date qualifying asset is ready for put to use for its intended purpose. All other Borrowing costs are recognized as expense and charged to profit & loss account.

1.11 Leases

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.

1.12 Financial Instruments

I) Financial Assets

a Initial recognition and measurement

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

b Subsequent Measurement

Financial assets carried at amortised cost (AC)

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

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

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

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

A financial asset which is not classified in any of the above categories are measured at FVTPL. c Investment in subsidiaries, Associates and Joint Ventures

The Company has accounted for its investments in subsidiaries, associates and joint venture at fair value. d Impairment of financial assets

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

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

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

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

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

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

e De-recognition of financial instruments

The Company derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire or it transfers the financial asset and the transfer qualifies for de-recognition under Ind AS 109. A financial liability (or a part of a financial liability) is de-recognized from the Company''s Balance Sheet when the obligation specified in the contract is discharged or cancelled or expires.

II) Financial Liabilities

a Initial Recognition and Measurement''

All Financial Liabilities are recognized at fair value and in case of borrowings, net of directly attributable cost, Fee of recurring nature are directly recognized in the Statement of Profit and Loss as finance cost.

b For trade and other payables maturing within one year from the balance sheet date, the carrying amounts approximate fair value due to the short maturity of these instruments.

1.13 Taxes on Income

Tax expense comprises both current and deferred taxes. Current Tax provision as per Income Tax Act, 1961, is made based on the tax liability computed after considering tax allowances and exemptions at the balance sheet date.

Deferred tax reflects the impact of current year timing differences between taxable income and accounting income for the year and reversal of timing differences of earlier years. Deferred tax is measured based on the tax rates and the tax laws enacted or substantively enacted at the balance sheet date.

Deferred tax asset is recognized only to the extent that there is reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realized. Deferred tax assets are recognized on carry forward of unabsorbed depreciation and tax losses only if there is virtual certainty that such deferred tax assets can be realized against future taxable profits.

The carrying amount of Deferred Tax Assets are reviewed at each balance sheet date and written down or written up, to reflect the amount that is reasonably or virtually certain, as the case may be, to be realized.

1.14 Earning Per Share

Basic earnings per share is calculated by dividing the net profit or loss for the period attributable to equity shareholders by the weighted average number of equity shares outstanding during the period. Dilutive earning per shares is computed and disclosed using the weighted average number of equity and dilutive equity equivalent shares outstanding during the year, except when the result would be anti-dilutive.

1.15 Impairment of Assets

The carrying values of assets / cash generating units at each Balance Sheet date are reviewed for impairment. If any indication of impairment exists, the recoverable amount of such assets is estimated and impairment is recognised, if the carrying amount of these assets exceeds their recoverable amount. The recoverable amount is the greater of the net selling price and their value in use. Value in use is arrived at by discounting the future cash flows to their present value based on an appropriate discount factor.

The management assessed that fair value of financial liabilities approximate their carrying amounts largely due to the short-term maturities of these instruments.

28 The Resolution Plan submitted by M/s. SAB Events and Governance Now Media Limited, M/s. Marvel Media Private Limited, Mr. Ravi Adhikari and Mr. Kailasnath Adhikari for the Company has been approved by the Hon''ble NCLT, Mumbai bench vide its order dated December 8, 2023. The said approved Resolution Plan contains the details and timelines for settlements of various financial creditors (secured creditors) and operational creditors, statutory dues and litigation claims of the Company. During the current financial year 2023-2024, as per the said NCLT order, the Company has given the financial impact of the said approved Resolution plan by reducing all its liabilities / reduction of equity / preference share capital, writing off various assets, creating capital reduction reserve disclosed in Other Equity as per generally accepted accounting principles in India.

Further, the Company has also issued fresh equity share capital as on March 31, 2024, however the said fresh issue / reduction of existing preference / equity shares done as per Hon''ble NCLT order is yet to be approved in Registrar of Companies, Ministry of Companies Affairs as on the date of signing of the financials.

29 Financial Risk Management

The Company''s business activities are exposed to a variety of financial risks, namely liquidity risk, market risks and credit risk. The Company''s senior management has the overall responsibility for establishing and governing the Company''s risk management framework. The Company has constituted a core Management Committee, which is responsible for developing and monitoring the Company''s risk management policies. The Company''s risk management policies are established to identify and analyse the risks faced by the Company, to set and monitor appropriate risk limits and controls, periodically review the changes in market conditions and reflect the changes in the policy accordingly. The key risks and mitigating actions are also placed before the Audit Committee of the Company.

A) Liquidity risk

Liquidity risk is the risk that the Company will face in meeting its obligations associated with its financial liabilities.The Company''s approach in managing liquidity is to ensure that it will have sufficient funds to meet its liabilities when due without incurring unacceptable losses.

B) 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, currency risk and other price risk. Financial instruments affected by market risk include loans and borrowings and deposits.

Interest Rate Risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. This risk exist mainly on account of borrowings of the Company. However, all these borrowings are at fixed interest rate and hence the exposure to change in interest rate is insignificant.

Foreign Currency Risk

Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. The Company is not exposed to significant foreign currency risk as at the respective reporting dates.

C) Credit Risk

Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Company is exposed to credit risk from its operating activities (primarily trade receivables) and other financial assets.

i) Trade Receivables

Customer credit risk is managed by each business unit subject to the Company''s established policy, procedures and control relating to customer creditrisk management. An impairment analysis is performed at each reporting date on an individual basis for major trade receivables.”

ii) Other Financial Assets

Credit risk from balances with banks and financial institutions is managed by the Company in accordance with the Company''s policy. Investments of surplus funds are made only in highly marketable debt instruments with appropriate maturities to optimise the cash return on instruments while ensuring sufficient liquidity to meet its liabilities.

D) Excessive Risk Concentration

Concentrations arise when a number of counterparties are engaged in similar business activities, or activities in the same geographical region, or have economic features that would cause their ability to meet contractual obligations to be similarly affected by changes in economic, political or other conditions. Concentrations indicate the relative sensitivity of the Company''s performance to developments affecting a particular industry.

In order to avoid excessive concentrations of risk, the Company''s policies and procedures include specific guidelines to focus on the maintenance of a diversified portfolio. Identified concentrations of credit risks are controlled and managed accordingly.

30 COMPLIANCE WITH NUMBER OF LAYERS OF COMPANIES:

Company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with

Companies (Restriction on number of Layers) Rules, 2017.

31 UTILISATION OF BORROWED FUNDS AND SHARE PREMIUM

a) During the year, no funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the Company to or in any other persons or entities, including foreign entities ("Intermediaries"), with the understanding, whether recorded in writing or otherwise, that the intermediary shall, whether, directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Company ("Ultimately Beneficiaries") or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

b) During the year, no funds have been received by the Company from any persons or entities, including foreign entities ("Funding Parties"), with the understanding, whether recorded in writing or otherwise, that the Company, shall, whether, 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 provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

34 The management have neither come across any instance of fraud on or by the Company, noticed or reported during the financial year.

35 There were no amounts which were required to be transferred to the Investor Education and Protection Fund by the Company.

36 There is loss in the Company in F.Y. 2023-24 and also in previous financial years, due to which the provisions of section 135 of the Companies Act, 2013 is not applicable to the Company.

37 The figures have been re-grouped / re-arranged / reclassified / reworked wherever necessary to conform to the current year accounting treatment.

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

For Hitesh Shah & Associates

Chartered Accountants

FRN : 103716W Markand Adhikari Latasha Jadhav

Chairman & Managing Director Director

CA Hitesh Shah, Partner DIN : 00032016 DIN : 08141498

Membership No. 040999

Hanuman Patel Suresh Khilari

M_umb_ai Company Secretary & Compliance Officer Chief Financial Officer

D_at_{e :} 24.05.2024 Membership No. A55616

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Mar 31, 2016

Terms and Rights attached to Equity Shares:

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

The amount of per share dividend recognized as distributions to equity shareholders during the year ended 31^st March 2016 is? 0.60 (RY. ? 0.60), subject to approval by shareholders in the ensuing annual general meeting.

Terms and Rights attached to Preference Shares:

The Company has one class of preference shares having a par value of f 10/- per share. These shares do not carry any voting rights.

These shares are non-cumulative, non-convertible, non-participating and are carrying 0.01% per annum rate of dividend. These shares are redeemable at par and the redemption would be at the discretion of Board of Directors of the Company any time after the 7^th Anniversary but not later than 10^th Anniversary.

The amount of per share dividend recognized as distributions to preference shareholders during the year ended 31^st March, 2016 is f 0.001/- subject to approval by shareholders in the ensuing annual general meeting.

Term Loan from Banks are primarily secured by way of first/exclusive charge on the Business & Commercial rights acquired from the proceeds of the respective loan. These loans are collaterally secured by assets belonging to promoter group and promoter directors, tangible assets and investments of the company. These loans are further guaranteed by personal guarantee of promoter group and promoter directors of the company.

These loans are repayable over a period ranging between 24 months to 60 months payable in monthly installments spreading up to financial year 2020-21. The rates of interest for these loans are ranging from Base Rate 2% to Base Rate 4.50%.

Vehicle loans are secured by way of hypothecation of vehicles.

The Hon''ble High Court of Bombay has, on21^st November, 2015, approved the Composite Scheme of Amalgamation and Arrangement between Maiboli Broadcasting Private Limited (MBPL'') and Sri Adhikari Brothers Assets Holding Private Limited (''SAB Assets'') and Sri Adhikari Brothers Television Network Limited (''SABTNL'' or ''the Company'') and TV Vision Limited (''TVL'') and HHP Broadcasting Services Private Limited (''HHP'') and MPCR Broadcasting Service Private Limited (''MPCR'') and UBJ Broadcasting Private Limited (''UBJ'') and SAB Events & Governance Now Media Limited (Formerly known as ''Marvick Entertainment Private Limited'') (''SAB Events'') and their respective shareholders (''Composite Scheme'') which became effective from 15^th January, 2016 on filing of order with ROC. The salient features of the Scheme are as follows:

1 Merger of MBPL with the Company w.e.f. 1^st April 2015;

2 Demerger of Publication business of SAB Assets in to the Company w.e.f. 1^st April 2015;

3 Demerger of Broadcasting business of the Company into TVL w.e.f. 15^th January 2016;

4 Demerger of Broadcasting business of UBJ, HHP and MPCR into TVL w.e.f. 15^th January 2016; and

5 Demerger of Publication business of SABTNL into SAB Events w.e.f. 15^th January 2016.

Also as per Clause 11(d) of Part II of the scheme, the Value of Investments amounting to Rs. 8,98,11,850/- held by the Company in MBPL have been cancelled and expensed out and debited to the Profit and Loss Account as an exceptional item.

Pursuant to Part II and Part III of the Composite Scheme becoming effective, the Company has three reportable segments i.e. (a) Content Production and Distribution (b) Broadcasting and (c) Publication. Further in terms of Part IV and V of the Composite Scheme the Company has demerged its Broadcasting Business Undertaking and Publication Business Undertaking w.e.f. 15^th January, 2016. As on 31^st March, 2015, the Company had only one segment i.e. Content Production and Distribution. The segment reporting taking into consideration the above facts, is stated here under:

a) List of Related Parties & Relationship: i. Subsidiary Companies

TV Vision Ltd. Subsidiary Company till 15^th January 2016

Westwind Realtors Pvt. Ltd. Subsidiary Company

Titanium Merchant Pvt.Ltd Board Controlled Subsidiary Company

HHP Broadcasting Services Pvt. Ltd. Step-down Subsidiary Company till 15^th January 2016

UBJ Broadcasting Pvt. Ltd. Step-down Subsidiary Company till 15^th January 2016

MPCR Broadcasting Services Pvt. Ltd. Step-down Subsidiary Company till 15^th January 2016

ii Associate Concern

SAB Entertainment Network Pvt. Ltd. Associate Concern

SAB Media Networks Pvt Ltd Associate Concern

Krishna Showbiz Services Pvt.Ltd Associate Concern till 15^th January 2016

iii. Key Management Personnel (KMP)

Gautam Adhikari Chairman & Whole Time Director

Markand Adhikari Vice Chairman & Managing Director

Manav Dhanda Chief Executive Officer

Rakesh Gupta Chief Financial Officer

Lehar Arora Company Secretary

iv. Relative of Key Management Personnel

Ravi Adhikari Son of KMP

Kailasnath Adhikari Son of KMP

v Others

Global Showbiz Pvt.Ltd KMP having substantial interest

Prime Global Media Pvt. Ltd KMP having substantial interest

Note: Pursuant to the Scheme of Arrangements, there have been certain transactions with related parties. These transactions are non- monitory in nature and the summary of the same has been disclosed in Note 22 above.

Defined Benefit Plan

Employees gratuity and leave encashment scheme is defined benefit plan. The present value of obligation is determined based on actuarial valuation using Projected Unit Credit Method which recognizes each period of service as giving rise to additional need of employee benefit entitlement and measures each unit separately to build up the final obligation.

The previous year figures have been regrouped/reclassified wherever considered necessary to correspond with current year classification/disclosure.

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Mar 31, 2015

1. Scheme of Arrangement

On 28th August, 2014, the Audit Committee and the Board of Directors of the Company has approved the Composite Scheme of Amalgamation and Arrangement between Maiboli Broadcasting Private Limited and Sri Adhikari Brothers Assets Holding Private Limited and Sri Adhikari Brothers Television Network Limited and UBJ Broadcasting Private Limited and HHP Broadcasting Services Private Limited and MPCR Broadcasting Service Private Limited and TV Vision Limited and SAB Events & Governance Now Media Private Limited (Formerly Known As ''Marvick Entertainment Private Limited'') and their respective Shareholders ("Scheme") under Sections 391 to 394 of the Companies Act, 1956 read with Section 78, Sections 100 to 103 of the Companies Act, 1956 and Section 52 and other relevant provision of the Companies Act, 2013.

The Hon''ble High Court of Judicature at Bombay vide its Order dated 8th May, 2015 has directed to hold the meeting of the Equity Shareholders of the Company on Friday, 19th June, 2015. In lieu of pending approval from the Hon''ble High Court of Judicature at Bombay and the Equity Shareholders of the Company, the impact of the above mentioned Scheme has not been given in these Financial Statements.

2. Transitional effect of the Asset whose useful life is over.

Effective from April 1, 2014 , the Company has revised the useful life of certain fixed assets based on Schedule II to the Companies Act 2013 for the purposes of providing depreciation on fixed assets. Accordingly, the carrying amount of the assets as on April 1, 2014 has been depreciated over the remaining revised useful life of the fixed assets. Consequently, an amount of Rs. 225.12 lacs representing the residual value of assets where the remaining useful life of an Asset is Nil i.e. the deprection not charged to Statement of Profit and Loss in earlier years has now been recognized in retained earnings and disclosed in appropriation part of the Statement of Profit and Loss.

3. Preferential Issue of Warrants

During the Previous Financial year company has allotted 100,00,000 warrants convertible into even number of equity of Rs.10/-each of the Company at a issue of Rs.75.10 (including premium of Rs.65.10) per share to the entities in the promoter group and others on preferential basis on 18th March 2014 in accordance with the provisions of SEBI (Issue of Capital and Disclosure Requirements) Regulation 2009. The above warrants entitle the allotees to convert into equity shares on balance payment of 75% of the issue price. Up to 31st March, 2014 Company had issued 28,20,000 equity shares on conversion of warrants. During the year Company has issued Balance 71,80,000 equity shares on conversion of Warrants.

4. Segment Reporting

The Company is operating in single primary business segment i.e. Content Production and distribution. Accordingly no segment reporting as per Accounting Standard 17 has been reported.

5. Contingent Liability and Commitments Contingent Liability

(To the extent not provided for)

Particulars 31.03.2015 31.03.2014

Income Tax demand and Penalty (net of payments) 10,410,000 14,410,000

Capital & Other Commitments

As on Balance Sheet date there is no outstanding Capital and Other Commitments.

6. Events occurring after Balance Sheet date

There are no event occurring after Balance Sheet date that require adjustment to amount stated on Balance Sheet date.

7. Disclosures required under Section 22 of the Micro, Small and Medium Enterprises Development Act, 2006 Company has not received any confirmation from its vendors that whether they are covered under the Micro, Small and Medium Enterprises Development Act, 2006, hence the amounts unpaid at the year end together with interest paid / payable under this Act cannot be identified.

8. Previous Year Figures

The previous year figures have been regrouped/reclassified wherever considered necessary to correspond with current year classification/disclosure.

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Mar 31, 2014

1. Segment Reporting

The Company is operating in single primary business segment i.e. Content Production and distribution. Accordingly no segment reporting as per Accounting Standard 17 has been reported.

2. Contingent Liability and Commitments Contingent Liability

(To the extent not provided for)

Particulars 31.03.2014 31.03.2013

Income Tax demand and Penalty (net of payments) 14,410,000 24,410,510

Capital & Other Commitments

As on Balance Sheet date there is no outstanding Capital and Other Commitments.

3. Events occurring after Balance Sheet date

There are no event occuring after Balance Sheet date that require adjustment to amount stated on Balance Sheet date.

4. Disclosures required under Section 22 of the Micro, Small and Medium Enterprises Development Act, 2006 Company has not received any confirmation from its vendors that whether they are covered under the Micro, Small and Medium Enterprises Development Act, 2006, hence the amounts unpaid at the year end together with interest paid / payable under this Act cannot be identified.

5. Previous Year Figures

The previous year figures have been regrouped/reclassified whereever considered necessary to correspond with current year clasification/disclosure.

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Mar 31, 2013

1 Employees Stock Option

The Company has granted in April 2010, 700,000 options to eligible employees under the SABTNL Employees Stock Option Plan 2010 (ESOP 2010). These options would be vested over a period of two years from the date of grant of options. 50% of these options vested in April 2011 and the balance will vest in April 2012. The options can be exercised within one year from the date of vesting. Each option is convertible into equivalent number of Equity Share of Rs.10/- Face value. The Exercise Price of the Option is Rs.10.

The stock option discount has been amortized over the vesting period of two years on straight line basis. A sum of Rs. 0.75 lacs (PY. Rs. 19.70 lacs) representing proportionate charge for the period has been included in the accounts under Salaries, Allowances etc. and a sum of Rs. 14.44 lacs has been credited in the accounts under Salaries, Allowances etc. on account of forfeiture of 139,000 employee stock options.

Potential number of Diluted Equity shares to be issued under Employees Stock Option Plan 2010 is Nil (Previous year Rs. 2,10,551/-) of Rs. 10/- each.

2 Segment Reporting

The Company is operating in single primary business segment i.e. Content Production and Distribution. Accordingly no segment reporting as per Accounting Standard 17 has been reported.

3. Related Party Disclosures

a) List of Related Parties & Relationship:-

i. Subsidiary Companies

TV Vision Ltd. Subsidiary Company

Westwind Realtors Pvt. Ltd. Subsidiary Company

HHP Broadcasting Services Pvt. Ltd. Step-down Subsidiary Company

UBJ Broadcasting Pvt. Ltd. Step-down Subsidiary Company

MPCR Broadcasting Services Pvt. Ltd. Step-down Subsidiary Company

ii. Associate Concern

Maiboli Broadcasting Pvt. Ltd. Associate Concern

SAB Entertainment Network Pvt. Ltd. Associate Concern

iii. Key Management Personnel (KMP)

Gautam Adhikari Chairman & Whole Time Director

Markand Adhikari Vice Chairman & Managing Director

iv. Relative of Key Management Personnel

Urvee Adhikari Daughter of Key Management Personnel

Ravi Adhikari Son of Key Management Personnel

Kailashnath Adhikari Son of Key Management Personnel

iv. Others

SAB & View Entertainment 50% Joint Venture

4 Contingent Liability and Events occurring after Balance Sheet date

There is no contingent liability as on Balance Sheet date except as stated below:

(Rs.)

Particulars 31.03.2013 31.03.2012

Income Tax Demand 24,410,510 37,463,448

Total 24,410,510 37,463,448

5 Capital and Other Commitment

As on Balance sheet date there is no outstanding Capital and Other Commitment,

6 Disclosures required under Section 22 of the Micro, Small and Medium Enterprises Development Act, 2006 Company has not received any confirmation from its vendors that whether they are covered under the Micro, Small and Medium Enterprises Development Act, 2006, hence the amounts unpaid at the year end together with interest paid / payable under this Act cannot be identified.

7 Previous Year Figures

The previous year figures have been regrouped/reclassified whereever considered necessary to correspond with current year clasification/disclosure.

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Mar 31, 2012

Terms and Rights attached to Equity Shares:

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

The amount of per share dividend recognized as distributions to equity shareholders during the year ended 31st March, 2012 is Rs. 0.60 (RY. Rs. 0.60), subject to approval by shareholders in the ensuing annual general meeting.

The reconciliation of the number of shares outstanding and the amount of share capital as at 31st March, 2012 is set out Below:

Term loan and External Commercial borrowings from Punjab National Bank are secured by way of equitable mortgage of Lana and all the present and future assets created out of loan proceeds for project at Kandivali and hypothecation of studio equipment and furniture and fixtures. Further, the loan is guaranteed by personal guarantee of promoter directors.

Term loan from Canara Bank is secured by way of negative lien on content rights acquired from loan proceeds. Further, the loan is guaranteed by personal guarantee of Promoter Directors and is collaterally secured by assets belonging to Promoter Directors and their relative.

Corporate Loan is secured by way of first charge on the program/content rights acquired from loan proceeds. Further loan is guaranteed by personal guarantee of promoter directors and collaterally secured by assets belonging to promoter director.

Vehicle loan is secured by way of hypothecation of vehicles.

These loan are repayable on monthly and quarterly installment basis spreading upto financial year 2014-15 and rate of interest for the term loan is Base Rate 4.00%, for external commercial borrowing rate is LIBOR 6M 7% and for corporate loan rate is Base Rate 4.25%.

1 Employees Stock Option

The company has granted in April 2010, 700,000 options to eligible employees under the SABTNL Employees Stock Option Scheme 2009-10 (ESOP 2009-10). These options would be vested over a period of two years from the date of grant of options. 50% of these options vested in April 2011 and the Balance will vest in April 2012. The options can be exercised within one year from the date of vesting. Each option is convertible into equivalent number of Equity Share of Rs.10/- Face value. The Exercise Price of the Option is Rs.10.

The stock option discount has Peen amortized over the vesting period of two years on straight line basis. A sum of Rs. 19.70 lacs (PY. Rs. 52.27 lacs) representing proportionate charge for the year has Been included in the accounts under Salaries, Allowances etc.

Potential number of Diluted Equity shares to be issued under Employees Stock Option Scheme 2009-10 is 2,10,551 (Previous year 2,56,374/-) ofRs.10/- each.

2 Segment Reporting

The Company is operating in single primary Business segment i.e. Content Production and distribution. Accordingly no segment reporting as per Accounting Standard 17 has Been reported.

3. Related Party Disclosures

a) List of Related Parties & Relationship:-

i. Subsidiary Companies

TV Vision Ltd. Subsidiary Company

Westwind Realtors Pvt. Ltd. Subsidiary Company

MaiPoli Broadcasting Pvt. Ltd. Subsidiary Company

HHP Broadcasting Services Pvt. Ltd. Step-down Subsidiary Company

UBJ Broadcasting Pvt. Ltd. Step-down Subsidiary Company

MPCR Broadcasting Services Pvt. Ltd. Step-down Subsidiary Company

ii. Key Management Personnel (KMP):

Gautam Aahikari Chairman & Whole Time Director

Markand Aahikari Vice Chairman & Managing Director

iii. Relatives of Key Management Personnel

Heeren Aahikari Urvee Aahikari Kanchan Aahikari Ravi Aahikari Kailashnath Aahikari

iv. Others

SAB & View Entertainment 50% Joint Venture

Infra Projects Vision Pvt Ltd Directors having Substantial Interest

Kartavyaa Publication Pvt Ltd Directors having Substantial Interest

Dream Merchant Cinema Pvt Ltd Directors having Substantial Interest

Cinema Today Pvt Ltd Directors having Substantial Interest

Sri Aahikari Brothers Assets Holding Pvt Ltd. Directors having SuPstantial Interest

Urvee Aahikari Creation Relative of Director having Substantial Interest

Defined Benefit Plan

Employees gratuity and leave encashment scheme is defined benefit plan. The present value of obligation is determined based on actuarial valuation using projected unit credit method which recognised each period of service as giving rise to additional need of employee benefit entitlement and measures each unit separately to build up the final obligation.

4 Consolidation of Financial Statements:

SABe TV Ltd, a WOS of a company is in the process of voluntary winding up and it is not carrying on any operating activity, Residual value of the investment in the WOS is fully adjusted in the earlier years against the amount payable to the WOS. Accordingly, company has not consolidated Financial Statements of SABe TV Ltd.

5 Contingent Liability and Events occurring after Balance Sheet date

There is no contingent liability as on Balance Sheet date except as stated Below:

particulars 31.03.2012 31.03.2011

a) Guarantees Given for Loan taken by Subsidiaries 1,100,000,000 740,000,000

P) Income Tax Demand/Penal1y 61,668,180 61,668,180

Total 1,161,668,180 801,668,180

6 Capital and Other Commitment

As on Balance sheet date there is no outstanding Capital and Other Commitment.

7 Disclosures required under Section 22 of the Micro, Small and Medium Enterprises Development Act, 2006

Company has not received any confirmation from its vendors that whether they are covered under the Micro, Small and Medium Enterprises Development Act, 2006, hence the amounts unpaid at the year end together with interest paid / payable under this Act cannot be identified.

8 Previous Year Figures

The revised Schedule VI of the Companies Act, 1956 has Become effective from 01.04.2011 for the preparation of financial statements, which has significantly impacted the disclosure and presentation made in financial statement. The previous year figures have Peen regrouped/reclassified wherever considered necessary to correspond with current year classification/disclosure.

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Mar 31, 2010

1. FOREIGN CURRENCY CONVERTIBLE BONDS (FCCB)

During the year, the company has bought back all the outstanOing FCCBs at an average discount of 43.42%. The discount of Rs.159.10 million on buy back has been credited to Capital Reserve.

2. PREFRENTIAL ISSUE

During the year, the company has allotted 91,75,000 warrants on 19th November, 2009 ana 29,25,000 on 28th January, 2010 issued on preferential basis. These warrants are convertible into eauivalent number of eauity shares issued @ of Rs.25.25 and Rs.31.85 respectively. On 27th March, 2010 the Company has alloted 69,75,000 eauity shares on conversion of 50,50,000 warrants from 1st tranche ana 19,25,000 warrants from the 2nd tranche at the price of RS.25.25&RS.31.85 respectively.

3. SEGMENT REPORTING:

The Company is operating in Single Primary Business Segment i.e. content production & distribution. Accordingly, no Segment Reporting as per Accounting StanOara-l 7 has been reported.

4. RELATED PARTIES DISCLOSURES:

(a) List of Related Parties & Relationship:

"NAME OF THE RELATED PARTY NATURE OF RELATIONSHIP

TV Vision Private Limited Wholly owned Subsidiary Company

MPCR Broadcasting Service Private Limited Wholly owned Subsidiary Company

UBJ Broadcasting Private Limited Wholly owned Subsidiary Company

HHP Broadcasting Services Private Limited Wholly owned Subsidiary Company

Westwind Realtors Private Limited Subsidiary Company

Sri Adhikari Brothers & View Entertainment 50% Partnership Firm

Key Management Personnel

Gautam Adhikari Chairman & Whole Time Director

Markand Adhikari Vice Chairman & Managing Director

"Relative of Key Management Personnel

Heeren Adhikari Brother of Key Management Personnel

Urvee Adhikari Daughter of Key Management Personnel

Kanchan Adhikari Wife of Key Management Personnel

Ravi Adhikari Son of Key Management Personnel

Kailashnath Adhikari Son of Key Management Personnel

"Others

Sri Adhikari Brothers Media Limited Directors having Substantial Interest

Broadcast Initiatives Limited Directors having Substantial Interest

Technocrft Media Private Limited Directors having Substantial Interest

Dream Merchant Cinema Private Limited Directors having Substantial Interest

Cinema Today Private Limited Directors having Substantial Interest

Regional Broadcasters Private Limited Directors having Substantial Interest

Sri Adhikari Brothers Assets Holding Private Limited Directors having Substantial Interest

5. CONSOLIDATION OF FINANCIAL STATEMENTS:

SABe TV Ltd, a WOS of the company is in the process of voluntary winOing up ana it is not carrying on any operating activity, Residual value of the investment in the WOS is fully adjusted in the earlier year against the amount payable to the WOS. Accordingly, company has not consolidated Financial Statements of SABe TV Ltd.

Defined Benefits Plan

Employees Gratuity FunO Scheme manage by Life Insurance Corporation of InOia is defined benefit plan. The present value of obligations is determined based on actuarial valuation using projected unit credit method which recognized each period of service as giving rise to additional need of employee benefit entitlement ana measures each unit separately to build up the final obligation. The obligation for leave encashment is recognized in the same manner.

6. CAPITAL COMMITMENTS:

Estimated amount of contracts outstanOing on account of capital commitment (net of advances) is Rs.33.10 Million (RY. 27.7 Million).

7. CONTINGENT LIABILITIES: (Rs.in Million) PARTICULARS As at 31.03.2010 As at 31.03.2009

Claims against the Company not acknowledged as Debt 20.00 20.00

Custom DuV obligation for EPCG Scheme 4.59 4.59

8. EVENTS OCCURING AFTER BALANCE SHEET DATE

To the best of knowledge of the management, there are no events occurring after the Balance Sheet date that provide additional information materially affecting the determination of the amount relating to the conditions existing at the Balance Sheet Date that reauires adjustment to the Assets or Liabilities of the Company except to the extent stated otherwise.

9. CURRENT ASSETS AND CURRENT LIABILITIES:

Balances of Sunary Debtors, SunOry Creditors, ana Loans & AOvances, receivable /payable are taken as per books ana are subject to confirmation ana reconciliation, if any ana Cash & Bank Balance.

10. DETAILS ABOUT THE MICRO, SMALL AND MEDIUM ENTERPRISES

In absence of information regarding vendors covered under the Micro, Small ana Medium Enterprises Development Act, 2006, disclosure relating to amounts unpaid as at the year end together with interest paid / payable under this Act has not been given

11. Figures of previous year have been regrouped, rearranged ana recasted wherever considered necessary.