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Notes to Accounts of Cinerad Communications Ltd.

Mar 31, 2015

1. TERMS/ RIGHTS ATTACHED TO EQUITY SHARES

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

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

2.OTHER NOTES ON ACCOUNTS

i Based on the information / documents available with the Company, no creditor is covered under Micro, Small and Medium Enterprise Development Act, 2006. As a result, no interest provision/payments have been made by the Company to such creditors, if any, and no disclosures thereof are made in these accounts.

ii The Company has parked temporarily its surplus funds in money market liquid funds which are readily realisable.

iii The management has assessed that there is no impairment of Fixed Assets requiring provision in the Accounts. Accordingly, there is no debit to the Profit & Loss Account for the impairment of Assets.

iv The Financial Statements and Notes on Account has been prepared as per Companies Act, 2013 with their Schedule as the same is effective on 1st April, 2014

v Deferred Taxation :

No Provision has been made for Deferred Tax Assets in respect of assessed unabsorbed brought forward losses and unabsorbed depreciation as per Income Tax Act in view on uncertainity of income that will be available for realisation of the said asset. However, the company will made the deferred tax assets/ liabilities on the timing difference for the period in which there is virtual certainty of future income.

vi Segment Report:

The Company is not engaged in any business during the year so Segment Reporting as per Accounting Standard 17 is not applicable.

vii Related Party Disclosure :

As per accounting statndard 18 the information for related parties is given below: Name of the related parties

ASSOCIATES - None

SUBSIDIARIES - None

KEY MANAGEMENT PERSONNEL ( KMP )

1. Pradeep Kumar Daga (upto 31/01/2015) - Managing Director

2. Vinita Daga (from 01/02/2015) - Managing Director (Wife of Pradeep Kr. Daga)

3. Harshwant Joshi (from 11/09/2015) - Chief Financial Officer

4. Sweta Sethia - Company Secretary

RELATIVES OF (KMP) - None

viii The Company has Complied this information based on the current information in its possession. As at 31.03.2015, No supplier has intimated the Company about its status as a Micro or Small enterprise or its Registration with the appropriate authority under under Micro, Small and Medium Enterprise Development Act, 2006.

Amount due to Micro Small and Medium Enterprises as on 31.03.2015 Rs. NIL (PY Rs. NIL)

ix Effective from 1st April, 2014, the Company has charged depreciation based on the useful life of the assets as per the requirement of Schedule II of the Companies Act, 2013. It has recomputed the depreciation on various fixed assets in accordance with and in the manner prescribed with Part C of Schedule II of the Companies Act, 2013. The aggregate difference between the depreciation so computed as per the companies Act, 2013 till 31st March, 2014 and the depreciation charged in the accounts till 31st March, 2014 has been debited to the opening balance of profit & Loss Account.

Deferred Tax assets arising there on has been debited to or credited to against the opening balance of Profit & Loss Account.

x No provision has been made on account of leave salary as there are no leave to the credit of employees as at the end of the year.

xi No provision has been made on account of gratuity as there are no employees who have completed the required number of years as per the Payment of Gratuity Act, 1972.

xii Previous Year figures have been regrouped, rearranged or recasted wherever considered necessary.


Mar 31, 2014

A. TERMS/ RIGHTS ATTACHED TO EQUITY SHARES

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

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

1 Based on the information / documents available with the Company, no creditor is covered under Micro, Small and Medium Enterprise Development Act, 2006. As a result, no interest provision/payments have been made by the Company to such creditors, if any, and no disclosures thereof are made in these accounts.

2 Loans, advances and sundry creditors balances are subject to confirmation by the respective parties.

3 The management has assessed that there is no impairment of Fixed Assets requiring provision in the Accounts. Accordingly, there is no debit to the Profit & Loss Account for the impairment of Assets.

4 Deferred Taxation :

No Provision has been made for Deferred Tax Assets in respect of assessed unabsorbed brought forward losses and unabsorbed depreciation as per Income Tax Act in view on uncertainity of income that will be available for realisation of the said asset.

5 Segment Report :

The Company is not engaged in any business during the year so Segment Reporting as per Accounting Standard 17 is not applicable.

7 The Company has Complied this information based on the current information in its possession. As at 31.03.2014, No supplier has intimated the Company about its status as a Micro or Small enterprise or its Registration with the appropriate authority under Micro, Small and Medium Enterprise Development Act, 2006.

Amount due to Micro Small and Medium Enterprises as on 31.03.2014 RS. NIL ( PY RS NIL )

8 No provision has been made on account of leave salary as there are no leave to the credit of employees as at the end of the year.

9 No provision has been made on account of gratuity as there are no employees who have completed the required number of years as per the Payment of Gratuity Act, 1972.

Previous Year figures have been regrouped, rearranged or re-casted wherever

10 considered necessary.


Mar 31, 2013

1 Based on the information / documents available with the Company, no creditor is covered under Micro, Small and Medium Enterprise Development Act, 2006. As a result, no interest provision/payments have been made by the Company to such creditors, if any, and no disclosures thereof are made in these accounts.

2 Loans, advances and sundry debtors and sundry creditors balances are subject to confirmation by the respective parties

3 The management has assessed that there is no impairment of Fixed Assets requiring provision in the Accounts. Accordingly, there is no debit to the Profit & Loss Account for the impairment of Assets.

4 Deferred Taxation :

No Provision has been made for Deferred Tax Assets in respect of assessed unabsorbed brought forward losses and unaborbed depreciation as per Income Tax Act in view on uncertainity of incomethat will be available for realisation of the said asset.

5 Segment Report : The Company is not engaged in any business during the year so Segment Reporting as per Accounting Standard 17 is not applicable.

6 Related Party Disclosure : As per accounting statndard 18 the information for related parties is given below:

Name of the related parties

KEY MANAGEMENT PEROSNNEL ( KMP )

1. Pradeep Kumar Daga

2. Vinita Daga RELATIVES OF ( K M P )

7 The Company has Complied this information based on the current information in its possession. As at 31.03.2013, No supplier has intimated the Company about its status as a Micro or Small enterprise or its Registration with the appropriate authority under Amount due to Micro Small and Medium Enterises as on 31.03.2013 ` NIL ( PY ` NIL)

8 No provision has been made on account of leave salary as there are no leave to the credit of employees as at the end of the year.

9 No provision has been made on account of gratuity as there are no emloyees who have completed the required number of years as per the Payment of Gratuity Act, 1972.

10 Previous Year figures have been regrouped, rearranged or recasted wherever considered necessary.


Mar 31, 2012

Notes on Financial Statement for the year ended 31st March, 2012 The previous year figures have been regrouped/reclassified, wherever necessary to confirm to current year presentation.

a) In earlier year the company had issued 7,500,000 Convertible Warrants of Rs. 10/- each at a premium of Rs. 4/- per share to M/s India Emerging Capital Private Limited ( Promoter Shareholder) which as per the terms & conditions were to be converted into 7,500,000 Equity Shares of 10/- each within 18 months from the date of allotment after making balance payment due, however, the company did not receive the balance payment before the due date and therefore the Board of Directors in their meeting held on 10th January 2010 has forfeited the entire share application money and the money received earlier has been transferred to Capital Reserve Account

1. Contingent Liabilities: Claims against the company not acknowledged as debts: Nil.

2. Estimated amount of contracts remaining to be executed on Capital Account and not provided for Nil

3. In the opinion of the Board of Directors, Current Assets, Non-Current Assets, Long Term Loans and Advances & Short Term Loan & Advances have a value of at least equal to the amounts shown in the Balance sheet, if realized in the ordinary course of business. The provision for all known liabilities is adequate and not in excess of the amount reasonably necessary.

4. During the previous year the company has disposed off substantially the whole of the immovable property situated at Mumbai and consequently the remaining revaluation reserve created on 1st March, 1994 amounting to Rs. 21,46,724 has been credited to premises in Fixed Assets Note No.:4. The resultant profit amounting to Rs. 68,76,810 /- on sale of such asset has been credited to Profit on Sale of Asset.

5. The Company has no long term or post employment benefit as the company did not have the minimum employees as required under the provisions of Employees Provident Fund Act and Employee State Insurance Act (defined contribution plans), hence it is not liable to make contributions under the above mentioned acts. Further, the Payment of Gratuity Act, 1972 (defined benefit plan) is not applicable to the Company due to the reasons mentioned above.

6. In few cases advances/creditors remained unconfirmed.

7. Additional information pursuant to the Provisions of Schedule VI of the Companies Act, 1956 to the extent applicable is given :-

i) Salaries & Allowances in Note 10 includes Managerial Remuneration as under:

Current Year (Rs.) Previous Year (RS.)

Salary Rs. 2,89,000 2,76,000

8. The Company is in the process of identifying suppliers who have registered themselves under "The Micro, Small and Medium Enterprises Development Act 2006". As of date the Company has not received confirmation in this regard from any of its registered suppliers. Therefore, the information in this regard has not been disclosed.

10. Related Party Disclosures

a. List of related parties

Parties where control exists: Promoter Shareholder:

2010-11 2011-12

M/s India Emerging Capital Pvt Ltd. -

Key managerial personnel:

2010-11 2011-12

Mr. Abhineet Gupta (Managing Director) Mr. Pradeep kumar Daga (Additional Director)

Mr. Diwakar Gandhi (Chairperson) Mrs. Vinita Daga (Additional Director)

Mr.Mukesh Pathak (Director) Mr.Mukesh Pathak (Director)

Mr.S.C.Sachdeva (Director) Mr.S.C.Sachdeva (Director)

Mr. Manmohan Raghunath Prasad Prahladka (Additional Director)

Transactions with related parties

Name of related party Nature of Nature of Volume of relationship transactions transactions during the year

Abhineet Gupta Key Management Remuneration Rs.2.89 lacs (Managing Director) Personnel (Previous Year Rs. 2.76 lacs)

Abhineet Gupta Key Management Loan Nil (Managing Director) Personnel (Previous Year Rs. 1.5 lacs)

Notes:- a. Related party relationship is as identified by the Company and relied upon by the auditors.

b. Previous year figures are given in bracket.

11. Since the company has not carried activities consisting of production of advertising and promotional Films and documentaries for television and video post production services. There has been no segment reporting in accordance with the Accounting standard 17 of the ICAI.

12. In the absence of Taxable Income during the year and in view of brought forward losses, no provision for Income Tax has been made. Further the Deferred Tax Assets has also not been recognized as there is no virtual certainty that sufficient future taxable income will be available against which such Deferred Tax Assets can be realized.

13. The figures for the previous year have been regrouped/recast as far as practicable to make them comparable with those of the current year.


Mar 31, 2011

1. Contingent Liabilities: Claims against the company not acknowledged as debts: Nil.

2. Estimated amount of contracts remaining to be executed on Capital Account and not provided for Rs. Nil

3. In the opinion of the Board, Current Assets, Loans and Advances have a value of at least equal to the amounts shown in the Balance sheet, if realized in the ordinary course of business. The provision for all known liabilities is adequate and not in excess of the amount reasonably necessary.

4. In earlier year the company had issued 7,500,000 Convertible Warrants of Rs. 10/-each at a premium of Rs. 4/- per share to M/s India Emerging Capital Private Limited (Promoter Shareholder) which as per the terms & conditions were to be converted into 7,500,000 Equity Shares of 10/- each within 18 months from the date of allotment after making balance payment due, however, the company did not receive the balance payment before the due date and therefore the Board of Directors in their meeting held on 10th January 2010 has forfeited the entire share application money and the money received earlier has been transferred to Capital Reserve Account.

5. During the year the company has disposed off substantially the whole of the immovable property situated at Mumbai and consequently the remaining revaluation reserve created on 1st March, 1994 amounting to Rs.21,46,724 has been credited to premises in Fixed Assets Schedule No. :3. The resultant profit amounting to Rs. 68,76,810 /- on sale of such asset has been credited to Profit on Sale of Asset.

6. The Company has no long term or post employment benefit as the company did not have the minimum employees as required under the provisions of Employees Provident Fund Act and Employee State Insurance Act (defined contribution plans), hence it is not liable to make contributions under the above mentioned acts. Further, the Payment of Gratuity Act, 1972 (defined benefit plan) is not applicable to the Company due to the reasons mentioned above.

7. In few cases advances/creditors remained unconfirmed,

8, The Company is in the process of identifying suppliers who have registered themselves under "The Micro, Small and Medium Enterprises Development Act 2006". As of date the Company has not received confirmation in this regard from any of its registered suppliers. Therefore, the information in this regard has not been disclosed.

9. Related Party Disclosures

a. List of related parties

Parties where control exists:

Promoter Shareholder : M/s India Emerging Capital Pvt Ltd.

Key managerial personnel : Abhineet Gupta (Managing Director)

Diwakar Gandhi (Chairman)

Mukesh Pathak (Director)

S.C.Sachdeva (Director)

10. Since the company has not carried activities consisting of production of advertising and promotional Films and documentaries for television and video post production services. There has been no segment reporting in accordance with the Accounting standard 17 of the ICAI.

11. In the absence of Taxable Income during the year and in view of brought forward losses, no provision for Income Tax has been made. Further the Deferred Tax Assets has also not been recognized as there is no virtual certainty that sufficient future taxable income will be available against which such Deferred Tax Assets can be realized.

12. The figures for the previous year have been regrouped/recast as far as practicable to make them comparable with those of the current year.


Mar 31, 2010

1. Contingent Liabilities: Claims against the company not acknowledged as debts: Nil.

2. Estimated amount of contracts remaining to be executed on Capital Account and not provided for Rs. Nil

3. In the opinion of the Board, Current Assets, Loans and Advances have a value of at least equal to the amounts shown in the Balance sheet, if realized in the ordinary course of business. The provision for all known liabilities is adequate and not in excess of the amount reasonably necessary.

4. In previous year the company had issued 7,500,000 Convertible Warrants of Rs, 10/- each at a premium of Rs. 4/- per share to M/s India Emerging Capital Private Limited ( Promoter Shareholder) which as per the terms & conditions were to be converted into 7,500,000 Equity Shares of 10/- each within 18 months from the date of allotment after making balance payment due, however, the company did not receive the balance payment before the due date and therefore the Board of Directors in their meeting held on 10th January 2010 has forfeited the entire share application money and the money received earlier has been transferred to Capital Reserve Account.

5. The Company has no long term or post employment benefit as the company did not have the minimum employees as required under the provisions of Employees Provident Fund Act and Employee State Insurance Act (defined contribution plans), hence it is not liable to make contributions under the above mentioned acts. Further, the Payment of Gratuity Act, 1972 (defined benefit plan) is not applicable to the Company due to the reasons mentioned above.

6. Additional information pursuant to the Provisions of Schedule VI of the Companies Act, 1956 to the extent applicable is given :-

7 The Company is in the process of identifying suppliers who have registered themselves under "The Micro, Small and Medium Enterprises Development Act 2006". As of date the Company has not received confirmation in this regard from any of its registered suppliers. Therefore, the information in this regard has not been disclosed.

8 Related Party Disclosures

a. List of related parties

Parties where control exists:

Promoter Shareholder : M/s India Emerging Capital Pvt Ltd.

Key managerial personnel : Abhineet Gupta (Managing Director

Diwakar Gandhi (Director)

Notes:-

a. Related party relationship is as identified by the Company and relied upon by the auditors.

b. Previous year figures are given in bracket.

9 Since the company has not carried activities consisting of production of advertising and promotional Films and documentaries for television and video post production services. There has been no segment reporting in accordance with the Accounting standard 17 of the ICAI.

10 In the absence of Taxable Income during the year and in view of brought forward losses, no provision for Income Tax has been made. Further the Deferred Tax Assets has also not been recognized as there is no virtual certainty that sufficient future taxable income will be available against which such Deferred Tax Assets can be realized.

11 According to Accounting standard- AS 20 issued by the Institute of Chartered Accountants of India on Earning per share the details are: -

12 The figures for the previous year have been regrouped/recast as far as practicable to make them comparable with those of the current year.

 
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