* Cash credit facility of ^ 1500.00 (Previous Year - NIL) in Lac)availed froma public bank, bears a floatingrate of interest currently sanctioned @ 9.70% p.a. The facility is secured by way of primary security of hypothecation of entire current sssets of the Company, both present and future exclusive basis and & personally gurantee of the directors of the Company.
** The Loan from others include ^ NIL (Previous Year - ^ 150.00) (^ in Lac) which is covered by the personal guarantee of the directors of the Company.
* Micro, Small and Medium Enterprises as defined under MSMED Act, 2006 have been identified by the Company on the basis of the information available. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company. Further in view of the Management, the impact of interest, if any, that may be payable in accordance with the provisions of the Act is not expected to be material. The Company has not received any claim for interest from any supplier as at the balance sheet date. These facts have been relied upon by the auditors.
32. CORPORATE SOCIAL RESPONSIBILITY
As per Section 135 ofthe Companies Act, 2013, a Corporate Social Responsibility (CSR) committee has been formed by the Company. During the year, the Company was required to spend Rs. 38,37,837/- (Previous Year - NIL) as per the provisions of Section 135 of the Companies Act, 2013.
During the year, the Company has contributed Rs. 27,37,837/- to Infinity Foundation & Rs. 11,00,000/- to NY Foundations. These organisations carried out the CSR activities as specified in Schedule VII of the Companies Act, 2013 on behalf of the Company.
33. OPERATING SEGMENT INFORMATION
The operations of the Company relate to only one segmentviz. Media & Entertainment. The business activities ofthe Company are confined to India only. Hence no additional disclosures are made as required under Ind AS - 108 on "Operating Segments" issued by the Institute of Chartered Accountants of India.
36. FINANCIAL INSTRUMENT - ACCOUNTING CLASSIFICATION AND FAIR VALUE
The Fair value to be financial assets and liabilities are included at the amountat which the instrument can be exchanged in the current transaction between willing parties, other than in forced or liquidation sale.
The following methods and assumptions were used to estimate fair value:
Fair value of the cash and cash equivalent, short term borrowings and other current financial instruments approximate their carrying amount largely due to short term maturities of these instruments.
37. FOREIGN CURRENCY RISK
Foreign currency risk arises from commercial transaction that recognize assets and liabilities denominated in currency that is not a Company functional currency (INR). The Company is not exposed to significant foreign exchange risk at the respective reporting dates.
38. CREDIT RISK
Credit risk arises from the possibility that counter party may not be settle their obligations are agreed. The Company is not exposed to significant credit risk at the respective reporting dates.
39. INTEREST RATE RISK
Interest rate risk is the risk thatthe fair value or future cash flows of a financial instruments will fluctuate because ofchanges in market interestrates. Company does not have significant exposure to the risk of changes in market interest rates as Company's debt obligations in a fixed interest rates.
40. LIQUIDITY RISK
Liquidity risk is defined as the risk that the Company will not be able to settle or meet its obligations on time or at a reasonable price. The Company is not exposed to significant liquidity risk at the respective reporting dates.
42. GOING CONCERN BASIS
The directors have considered the basis of preparation of the Company's financial statements and after careful assessment have concluded that it continues to be appropriate to prepare these financial statements on a going concern basis.
NOTES TO STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
46. CONTINGENT LIABILITIES
The Company does not have any contingent liabilities as at 31st March 2024 (Previous year - NIL).
47. PREVIOUS YEAR'S FIGURES
Previous year figures have been regrouped, recast and rearranged wherever necessary so as to make them comparable with those of current year.
48. DIVIDEND
On May 31,2024, the Board of Directors of the Company have proposed a final dividend of ^ 1.00 per equity share in respect of the year ended March 31, 2024 subjec) to the approval of shareholders at the Annual General Meeting, and if approved, would result in a cash outflow of approximately 1 133.47 (1 in Lacs).
Dividends proposed by the Board of Directors are based on profits available for distribution.
The accompanying notes are an integral part of the financial statements.
43. EMPLOYEE BENEFIT Defined Contribution Plans Provident fund
The Company makes Provident Fund contributions to a defined contribution retirement benefit plans for qualifying employees. Under the
schemes, the Company is required to contribute a specified percentage of the payroll costs to the Employee's Provident Fund to fund the benefits.
The Company has recognized Rs. 1,42,491/-(Previous year - NIL) for provident fund contributions in the Profit and Loss Account. The contributions payable to these plans by the Company are at rates specified in the rules of the schemes.
Defined Benefit Plan (Unfunded)
A general description of the Employees Benefit Plan:
The company has an obligation towards gratuity, a unfunded benefit retirement plan covering eligible employees. The plan provides for lump sum payment to vested employees at retirement/ death while in employment or on termination of the employment of an amount equivalent to 15 days salary payable for each completed year of service or part thereof in excess of six months. Vesting occurs upon completion of five years of service.
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 defined 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 above sensitivity analysis, the present value of the defined 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 defined benefit obligation as recognised in the balance sheet.
Notes
Actuarial Gains/ Losses are accounted for immediately in the Other Comprehensive Income.
Salary escalation & attrition rate are considered as advised by the entity; 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 Benefit Obligation.
Para 139 (a) Characteristics of defined benefit plan
The entity has a defined benefit gratuity plan in India (unfunded). The entity's defined benefit gratuity plan is a final salary plan for employees.
Gratuity is paid from entity as and when it becomes due and is paid as per entity scheme for Gratuity.
Para 139 (b) Risks associated with defined benefit plan
Gratuity is a defined benefit plan and entity 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. Entity 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.
Para 139 (c) Characteristics of defined benefit plans
During the year, there were no plan amendments, curtailments and settlements.
Para 147 (a)
Gratuity plan is unfunded.
Notes
Debt-Service Coverage Ratio (in times) : The coverage reflects only servicing of Interest debited to Profit & Loss account (does not include project specific ^ interest has been charged to inventory) as the borrowings are repayable on demand.
ii) Inventory Turnover Ratio (in times) : Inventory includes Cost of Content under production which is intangible in nature.
Trade Receivables Turnover Ratio (in times) : Trade receivables include invoices raised for content under production which is classified as trande advances
iii) under other current liabilities.
Return on Investment (in %) : The Ratio has been calculated on the Investment made in Subsidiary LLP including current account balances, while excluding
iv) any credit balances in the current accounts.
45. OTHER STATUTORY INFORMATION:
i) The Company does not own any immovable property, hence the disclosure requirement are not applicable
ii) The Company has not revalued its property, plant and equipment during the current year or previous year.
The Company does not have any benami property and there are no proceeding initiated or pending against the Company for holding any benami property
iii) under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder.
iv) The Company has availed cash credit facility from public bank on the basis of security of current assets.
v) The Company has not been declared wilful defaulter by any bank or financial institution or government or any government authority.
The Company does not have prima facie any transactions with companies which have been struck off. The Companyis in the process of obtainingpositive
vi) confirmation from all Companies it transacts with.
vii) Except one vehicle loan, the Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.
viii) The Company has complied with the number of layers prescribed under the Companies Act, 2013.
There are no Scheme of Arrangements which are either pending or have been approved by the Competent Authority in terms of Section 230 to 237 of the
ix) Companies Act, 2013 during the current year and previous year.
The Company have not advanced or loaned or invested funds to any other person(s) or entitiy(ies), including foreign entities (intermediaries) with the
x) understanding (whether recorded in writing or otherwise) that the intermediary shall:
(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever (Ultimate Beneficiaries) by or on behalf of the Company or
(b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.
The Company have not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether
xi) recorded in writing or otherwise) that the Company shall:
(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever (Ultimate Beneficiaries) by or on behalf of the Company or
(b) provide any guarantee, security or the like from or on behalf of the Ultimate Beneficiaries.
The Company does not have any transactions which are notrecorded in the books of accounts that have been surrendered or disclosed as income in the tax
xii) assessment under the Income Tax Act, 1961 during the current year and previous year.
xiii) The Company has not traded or invested in crypto currency or virtual currency during the current year and previous year.
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