Mar 31, 2014
The Members of Kohinoor Broadcasting Corporation Limited
The Directors have pleasure in submitting the Twentieth Annual Report
together with the Audited Accounts for the year ended 31st March, 2014
Operating Results (Rs. Million)
31-03-2014 31-03-2013
Gross Receipts 0.82 0.88
Profit (Loss) before Interest,
Depreciation & Tax (3.25) (5.64)
Less: Interest - -
Less: Depreciation and Amortization 14.61 22.35
Profit (Loss) before Exceptional,
Extraordinary Items & Tax 17.86 27.99
Less: Exceptional Items 2.22 493.12
Profit (Loss) before Extraordinary
Items & Tax (20.08) (521.11)
Less: Extraordinary items (0.26) -
Profit (Loss) before Tax (19.82) (521.11)
Less: Tax (Savings) 2.96 3.16
Net Profit (Loss) after Tax (22.78) (524.27)
Earnings Per Share (EPS) (0.21) (4.76)
Dividend
In view of continued losses during the financial year under review, the
Board of Directors expresses its inability to recommend any Dividend.
Subsidiary Companies
The Company is not a subsidiary of any other Company. The Company has
an Indian wholly owned subsidiary, M/s KBC Power Corporation Limited.
The company has been set up for manufacture of solar cell and solar
modules. The Subsidiary company has not yet started its commercial
production. The financial results in that respect at the close of the
financial year 2013-14 have been prepared and consolidated in the
Consolidated Financial Statements.
The Company has another Indian subsidiary with 90% shareholding, Asian
IT Education Pvt. Ltd. The company is mainly engaged in the business of
establishing and running Information Technology Education Centers and
providing management related consultancy services. The financial
results in that respect at the close of the financial year 2013-14 have
been prepared and consolidated in the Consolidated Financial
Statements. The wholly owned subsidiary M/s Kohinoor Broadcasting
Corporation FZE has since been inoperative for past many years. The
company does not have any turnover and assets during the year.
Therefore no accounts have been prepared by that subsidiary company.
However, proper effect of the investment has been incorporated in the
accounts to the extent considered realizable.
In terms of General Circular No. 2/2011 dated 8th February 2011 read
together with General Circular No. 3/2011 dated 21st February 2011,
issued by the Ministry of Corporate Affairs under Section 212(8) of the
Companies Act, 1956, granting general exemption to companies from
attaching financial statements of subsidiaries, subject to the
fulfillment of conditions stated in the circular, copies of Balance
Sheet, Profit and Loss Account, Report of Board of Directors and
Auditors thereon of the subsidiary companies for the year ended on 31st
March 2014 are not attached to the Balance Sheet of the Company as the
company shall fulfill the following conditions:
(i) The Board of Directors of the company has vide Board resolution
dated 30* May, 2014 consented for not attaching the Balance Sheet (s)
of the concerned subsidiaries.
(ii) The Company has presented in its Annual Report, the consolidated
financial statements of holding company and all of its subsidiaries
duly audited by its statutory auditors.
(iii) The Consolidated financial statements has been prepared in strict
compliance with applicable accounting standards and where applicable,
Listing Agreement as prescribed by the Securities and Exchange Board of
India.
(iv) The Company has disclosed in its consolidated Balance Sheet the
following information in aggregate for each subsidiary :- (a) Capital
(b) Reserves (c) Total Assets (d) Total Liabilities (e) details of
investment (except in case of investment in subsidiaries) (f) Turnover
(g) Profit before taxation (h) provision for taxation (i) Profit after
taxation (j) proposed dividend, as applicable.
(v) The annual accounts and other related detailed information of the
subsidiaries viz. M/s KBC Power Corporation Limited and M/s Asian IT
Education Pvt Ltd shall be made available to the shareholders of the
holding company and subsidiary companies seeking such information at
any point of time.
(vi) Further, the annual accounts of the subsidiary companies shall
also be kept for inspection by any shareholder at the Head
office/Registered Office of the company and of the subsidiary companies
concerned and the Company shall furnish a hard copy of the details of
accounts of subsidiaries to any shareholder on demand.
(vii) The holding as well as subsidiary companies in question shall
regularly file such data to the various regulatory and Government
authorities as may be required by them.
(viii) The Company has given Indian rupee equivalent of the figures
given in foreign currency appearing in the accounts of the subsidiary
companies along with the exchange rate as on closing day of the
financial year. As a good Corporate Governance practice, a statement
pursuant to Section 129 of the Companies Act 2013 containing the
details of subsidiaries of the company, forms part of the Annual
accounts of the company.
Listing
The Ordinary Equity Shares of the Company are listed at Bombay Stock
Exchange Limited. The Global Depositary Receipts issued by the Company
are listed at Luxembourg Stock Exchange. However the trading has been
suspended in respect of GDRs by the Luxembourg Stock Exchange.
Consolidated Financial Statements
The Audited Consolidated financial statements of the Company have been
drawn as per Accounting Standard (AS-21) issued by the Institute of
Chartered Accountants of India and has been attached with the Annual
Report.
Investment
The Company has not made any investment in its Indian subsidiaries, KBC
Power Corporation Limited and Asian IT Education Pvt. Ltd during the
year.
Public Deposits
The Company has not accepted any deposits from the public within the
meaning of Section 73 of the Companies Act, 2013 and rules there under.
Insurance
None of the properties of the Company including its buildings,
equipment etc. have been insured.
Directors
The Board of Directors of the Company is duly constituted as per the
requirements of Corporate Governance. There was no change in the board
during the financial year under review. Mr. Mangal Singh and Mr.
Kulwinder Singh retire by rotation at the ensuing Annual General
Meeting and being eligible offers themselves for re- appointment.
Human Resources & Industrial Relations
The Company has not had any strikes or labour disputes since its
inception. The Company''s employees do not belong to any labour unions
or other employee union. The Company emphasizes flexibility and
innovation. Employees are, therefore, selected on the basis of
individual ability to learn as well as on academic/professional
achievement, conceptual knowledge, and temperament for, and fit with,
the Company''s corporate culture. The employees, members of the
administrative, management and supervisory bodies of the Company do not
hold any shares in the Company. There is no provision and/ or scheme of
the Company to offer any stock option for involving any employee,
members of the administrative, management, supervisory bodies or staff
in the capital of the Company.
Public Takeovers and Exchange Offers
During the financial year 2013-14, no public takeover or exchange
offers by the third parties have been made in respect of the Company''s
shares. Further, during the financial year 2013-14, no public exchange
offers have been made by the Company in respect of the shares of other
Companies.
Details of the Interruptions in the Business of the Company
There has been no interruption in the business of the Company, which
may have any significant effect on the Company''s financial position.
However, the Company could not escape from the impact of global
recession.
Arrangement to Enable Directors to Acquire Shares and Debentures
Neither at the end nor at any time during the financial year was the
Company a party to any arrangement, whose object is to enable the
Directors to acquire benefits by means of acquisition of shares or
Debentures of the Company or other body corporate.
Nature and Extent of the Interests of the Members of the Company
There are no unusual transactions, with regard to the interests of the
administrative, management and supervisory bodies, which are unusual in
their nature or conditions during the preceding financial year and the
current financial year.
Directors'' Interest in Shares and Debentures of the Company
The interest of Directors, holding office at the end of the financial
year, in the Shares and Debentures of the Company, according to the
Register of Directors'' Shareholdings were as follows:-
Equity Shares of Rs. 10 Each %age of Total Capital
Beginning End of year Beginning End of
year
Mr. Mangal Singh
(Managing Director) 400000 400000 0.36% 0.36%
Total 400000 400000 0.36% 0.36%
Except as disclosed in this report, no Director, who held office at the
end of the Financial year, had interest in Shares, Debentures, warrants
or Share options of the Company either at the beginning (or date of
appointment if later) and at the end of the Financial year.
Directors'' Receipt and Entitlement to Contractual Benefits
During the year, no Director has, either directly or indirectly,
received or become entitled to receive a benefit which requires
disclosure under the provisions of Companies Act 2013 and erstwhile
Companies Act 1956 by reason of a contract made by the Company or a
related corporation with the Director or a firm of which he is a member
or with a Company in which he has a substantial financial interest
except as disclosed in the Financial Statement.
Change in Shares Capital of the Company
There is no change in the Share Capital of the Company during the year.
The Authorized Share Capital of the Company remained at Rs.
1,160,000,000 divided into 116,000,000 Equity Shares of Rs. 10 each
both at the beginning and at the end of the year.
Compliance Report in respect of Cost Records
The company has maintained Cost Accounting Records in accordance with
Cost Accounting Record (Rules) 2011 applicable to the Company. M/s
Balwinder & Associates, Cost Accountants, have issued Compliance Report
on the Cost Accounting Records maintained by the Company for the year
2013-14.
Secretarial Audit Report
Secretarial audit has been performed on the company to ensure that the
affairs of the Company are being conducted in accordance with the legal
requirements. Accordingly the secretarial audit report has been issued
by CSShaliniBhatia.
Corporate Governance
A separate report on Corporate Governance is included in Annual Report
and the Certificate from Company''s Auditors confirming the compliance
of conditions on Corporate Governance as stipulated in the Clause 49 of
the listing agreement with the stock exchange is annexed thereto.
Management Discussion and Analysis
The report on the Management Discussion and Analysis is enclosed and
forms part of this Report.
Trading Pattern of Company''s Shares at BSE
The Company''s Equity Shares are listed and traded on the BSE. The
prices for Equity Shares as quoted in the official list of the BSE are
expressed in Indian Rupees. The following table sets forth the reported
high and low share prices quoted in Rupees for the Equity Shares and
the Trade Volume in terms of number of shares and number of trades for
the Equity Shares of the Company for the last three financial years.
(Source: www.bseindia.com)
Financial Year Share Price (in Rs.) Volume
High Low No. of Shares No. of Trades
2011-2012 2.37 0.56 53547031 18905
2012-2013 1.23 0.24 46207249 15526
2013-2014 0.29 0.11 20058630 6003
Auditors
M/s Amit K Arora & Co., Chartered Accountants, Panchkula, who are the
Statutory Auditors of the Company to hold office until the conclusion
of the ensuing Annual General Meeting and are eligible for
re-appointment. The Company has received letters from them to the
effect that their re-appointment, if made, would be within the
prescribed limits under Section 141 of the Companies Act, 2013 and that
they are not disqualified for re- appointment.
Ownership of the Properties of the Company
All the assets of the Company are registered in the name of the
Company.
Events Occurring After the Balance Sheet Date
There were no significant events occurred after the Balance Sheet date,
which require adjustment in the figures as on the Balance Sheet date.
Particulars of Employees Pursuant to Section 217 (2A)
None of the employees is covered under Section 217 (2A) of the
Companies Act, 1956 read with the Companies (Particulars of Employees)
Rules, 1975 as amended. There was no employee of the Company who, if
employed throughout the year, was in receipt of remuneration of Rs.
60,00,000 or more per annum and who, if employed for part of the year,
was in receipt of remuneration of Rs. 5,00,000 or more per month.
Particulars regarding conservation of energy, technology absorption and
foreign exchange earnings and outgo.
The Company is in to Service Industry and is not significant user of
Power. The particulars required to be furnished under the Companies
(Disclosure of Particulars in the Report of Board of Directors) Rules,
1988 to the extent applicable to the Company are as follows:
A) Conservation Of Energy:
a) Energy conservation measures taken/under implementation. Nil
b) Additional investments and proposals, if any, being implemented for
reduction in Nil consumption of energy.
c) Impact of measures at (a) and (b) above for reduction in energy
consumption and Nil consequent impact on the cost of production of
goods.
d) The total energy consumption and energy consumption per unit of
production. N.A.
B) Technology Absorption:
a) Research and Development Nil
b) Technology absorption, adaptation and innovation Nil
C) Foreign Exchange Earnings and Outgo:
a) Activities relating to exports, initiative taken to increase
exports, development of Nil new export markets for products and
services and export plans.
b) Total Foreign Exchange Earnings and Outgo during the year:
Earnings NIL
Outgo NIL
Directors Responsibility Statement
Pursuant to the requirement under Section 217(2AA) of the Companies
Act, 1956 with respect to Director''s Responsibility Statement, it is
hereby confirmed: i) That in the preparation of the accounts for the
financial year ended 31st March 2014, the applicable accounting
standards have been followed along with proper explanation relating to
material departure;
ii) That the Directors have selected such accounting policies and
applied them consistently and made judgments and estimates that were
reasonable and prudent so as to give a true and fair view of the state
of affairs of the Company at the end of the of the financial year and
of the profit and loss of the Company for the year under review;
ill) That the Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of the Companies Act, 1956 for safeguarding the assets of
the Company and for preventing and detecting fraud and other
irregularities;
iv) That the Directors have prepared the accounts for the financial
year ended 31st March, 2014 on a ''Going Concern'' basis.
Replies to the comments of auditors
The observations of the Auditors in their report read with the accounts
are self-explanatory and therefore do not require further explanation.
Acknowledgements
Your Directors take this opportunity to place on record their
appreciation of the dedication and commitment of employees at all
levels in maintaining the sustained growth of your Company and remain
in forefront of media and entertainment business. Your Directors thank
and express their gratitude for the support and co-operation received
from Central and State Governments mainly the Ministry of Information
and Broadcasting and the Department of Telecommunication and other
stakeholders including, producers, venders, banks, investors, service
providers as well as regulatory and governmental authorities.
For and on behalf of the Board
For Kohinoor Broadcasting Corporation Ltd.
(Mangal Singh)
Managing Director
DIN: 00067225
(Harjinder Singh)
Director
Chandigarh, U* August, 2014 DIN: 00073230
Mar 31, 2013
To The Members
The Directors have pleasure in submitting the Nineteenth Annual Report
together with the Audited Accounts for the year ended 31st March, 2013
Operating Results
(Rs.Million)
31-03-2013 31-03-2012
Gross Receipts 0.88 7.05
Profit (Loss) before
Interest, Depreciation & Tax (5.64) (18.40)
Less: Interest - -
Less: Depreciation
and Amortization 22.35 62.40
Profit (Loss) before
Exceptional, Extraordinary Items & Tax (27.99) (80.80)
Less: Exceptional Items 493.12 280.20
Profit (Loss) before
Extraordinary Items & Tax (521.11) (361.00)
Less: Extraordinary items - -
Profit (Loss) before Tax (521.11) (361.00)
Less: Tax (Savings) 3.16 (7.21)
Net Profit (Loss) after Tax (524.27) (353.79)
Earnings Per Share (EPS) (4.76) (3.21)
Dividend
In view of inadequacy of profits during the financial year under
review, the Board of Directors expresses its inability to recommend any
Dividend.
Subsidiary Companies
The Company is not a subsidiary of any other Company. The Company has a
wholly owned subsidiary viz M/s Kohinoor Broadcasting Corporation FZE
situated at Hamriyah Free Zone, Sharjah - UAE. The main object of the
Subsidiary Company has been set out as General Trading. The Accounts of
the Subsidiary Company has been drawn in accordance with UAE Commercial
Companies Laws and has been duly audited by independent auditors.
The Company has an Indian wholly owned subsidiary, M/s KBC Power
Corporation Limited. The company has been set up for manufacture of
solar cell and solar modules. The Subsidiary company has not yet
started its commercial production. The financial results in that
respect at the close of the financial year 2012-13 have been prepared
and consolidated in the Consolidated Financial Statements.
The Company has another Indian subsidiary with 90% shareholding, Asian
IT Education Pvt Ltd. The company is mainly engaged in the business of
establishing and running Information Technology Education Centers and
providing management related consultancy services. The financial
results in that respect at the close of the financial year 2012-13 have
been prepared and consolidated in the Consolidated Financial
Statements.
In terms of General Circular No. 2/2011 dated 8th February 2011 read
together with General Circular No. 3/2011 dated 21st February 2011,
issued by the Ministry of Corporate Affairs under Section 212(8) of the
Companies Act, 1956, granting general exemption to companies from
attaching financial statements of subsidiaries, subject to the
fulfillment of conditions stated in the circular, copies of Balance
Sheet, Profit and Loss Account, Report of Board of Directors and
Auditors thereon of the subsidiary companies for the year ended on 31st
March 2013 are not attached to the Balance Sheet of the Company as the
company shall fulfill the following conditions:
(i) The Board of Directors of the company has vide Board resolution
dated 30th May, 2013 consented for not attaching the Balance Sheet (s)
of the concerned subsidiaries.
(ii) The Company has presented in its Annual Report, the consolidated
financial statements of holding company and all of its subsidiaries
duly audited by its statutory auditors.
(iii) The Consolidated financial statements has been prepared in strict
compliance with applicable accounting standards and where applicable,
Listing Agreement as prescribed by the Securities and Exchange Board of
India.
(iv) The Company has disclosed in its consolidated Balance Sheet the
following information in aggregate for each subsidiary :- (a) Capital
(b) Reserves (c ) Total Assets (d) Total Liabilities (e ) details of
investment (except in case of investment in subsidiaries) (f) Turnover
(g) Profit before taxation (h) provision for taxation (i) Profit after
taxation (j) proposed dividend, as applicable.
(v) The annual accounts and other related detailed information of the
subsidiaries viz., M/s Kohinoor Broadcasting Corporation FZE, M/s KBC
Power Corporation Limited and M/s Asian IT Education Pvt Ltd shall be
made available to the shareholders of the holding company and
subsidiary companies seeking such information at any point of time.
(vi) Further, the annual accounts of the subsidiary companies shall
also be kept for inspection by any shareholder at the Head
office/Registered Office of the company and of the subsidiary companies
concerned and the Company shall furnish a hard copy of the details of
accounts of subsidiaries to any shareholder on demand.
(vii) The holding as well as subsidiary companies in question shall
regularly file such data to the various regulatory and Government
authorities as may be required by them.
(viii)The Company has given Indian rupee equivalent of the figures
given in foreign currency appearing in the accounts of the subsidiary
companies along with the exchange rate as on closing day of the
financial year.
As a good Corporate Governance practice, a statement pursuant to
Section 212(3) and 212(5) of the Companies Act 1956 containing the
details of subsidiaries of the company, forms part of the Annual
accounts of the company.
Listing
The Ordinary Equity Shares of the Company are listed at Bombay Stock
Exchange Limited. The Global Depositary Receipts issued by the Company
are listed at Luxembourg Stock Exchange.
Consolidated Financial Statements
The Audited Consolidated financial statements of the Company have been
drawn as per Accounting Standard (AS-21) issued by the Institute of
Chartered Accountants of India and has been attached with the Annual
Report.
Investment
The Company has made an investment to the tune of X 10784554 in its
Indian subsidiary, KBC Power Corporation Limited. The Company has
invested in its associate company (now subsidiary), Asian IT Education
Pvt Ltd an amount of X 4900000.
Public Deposits
The Company has not accepted any deposits from the public within the
meaning of Section 58-A of the Companies Act, 1956 and rules there
under.
Insurance
All the properties of the Company including its buildings, equipment
etc. are adequately insured.
Directors
The Board of Directors of the Company is duly constituted as per the
requirements of Corporate Governance. There was no change in the board
during the financial year under review. Mr. Harjinder Singh and Mr.
Gunjot Singh retire by rotation at the ensuing Annual General Meeting
and being eligible offers themselves for re-appointment.
Human Resources & Industrial Relations
The Company has not had any strikes or labour disputes since its
inception. The Company''s employees do not belong to any labour unions
or other employee union. The Company emphasizes flexibility and
innovation. Employees are, therefore, selected on the basis of
individual ability to learn as well as on academic/professional
achievement, conceptual knowledge, and temperament for, and fit with,
the Company''s corporate culture. The employees, members of the
administrative, management and supervisory bodies of the Company do not
hold any shares in the Company. There is no provision and/or scheme of
the Company to offer any stock option for involving any employee,
members of the administrative, management, supervisory bodies or staff
in the capital of the Company.
Public Takeovers and Exchange Offers
During the financial year 2012-13, no public takeover or exchange
offers by the third parties have been made in respect of the Company''s
shares. Further, during the financial year 2012-13, no public exchange
offers have been made by the Company in respect of the shares of other
Companies.
Details of the Interruptions in the Business of the Company
There has been no interruption in the business of the Company, which
may have any significant effect on the Company''s financial position.
However, the Company could not escape from the impact of global
recession.
Arrangement to Enable Directors to Acquire Shares and Debentures
Neither at the end nor at any time during the financial year was the
Company a party to any arrangement, whose object is to enable the
Directors to acquire benefits by means of acquisition of shares or
Debentures of the Company or other body corporate.
Nature and Extent of the Interests of the Members of the Company
There are no unusual transactions, with regard to the interests of the
administrative, management and supervisory bodies, which are unusual in
their nature or conditions during the preceding financial year and the
current financial year.
Except as disclosed in this report, no Director, who held office at the
end of the Financial year, had interest in Shares, Debentures, warrants
or Share options of the Company either at the beginning (or date of
appointment if later) and at the end of the Financial year.
Directors'' Receipt and Entitlement to Contractual Benefits
During the year, no Director has, either directly or indirectly,
received or become entitled to receive a benefit which requires
disclosure under the Companies Act 1956 by reason of a contract made by
the Company or a related corporation with the Director or a firm of
which he is a member or with a Company in which he has a substantial
financial interest except as disclosed in the Financial Statement.
Change in Shares Capital of the Company
There is no change in the Share Capital of the Company during the year.
The Authorized Share Capital of the Company remained at X 1,160,000,000
divided into 116,000,000 Equity Shares of X 10 each both at the
beginning and at the end of the year.
Compliance Report in respect of Cost Records
The company has maintained Cost Accounting Records in accordance with
Cost Accounting Record (Rules) 2011 applicable to the Company. M/s
Balwinder & Associates, Cost Accountants, have issued Compliance Report
dated 14th August 2013 on the Cost Accounting Records maintained by the
Company for the year 2012-13.
Corporate Governance
A separate report on Corporate Governance is included in Annual Report
and the Certificate from Company''s Auditors confirming the compliance
of conditions on Corporate Governance as stipulated in the Clause 49 of
the listing agreement with the stock exchange is annexed thereto.
Management Discussion and Analysis
The report on the Management Discussion and Analysis is enclosed and
forms part of this Report.
Trading Pattern of Company''s Shares at BSE
The Company''s Equity Shares are listed and traded on the BSE. The
prices for Equity Shares as quoted in the official list of the BSE are
expressed in Indian Rupees. The following table sets forth the reported
high and low share prices quoted in Rupees for the Equity Shares and
the Trade Volume in terms of number of shares and number of trades for
the Equity Shares of the Company for the last three financial years.
(Source: www.bseindia.com)
Auditors
M/s Amit K Arora & Co., Chartered Accountants, Panchkula, who are the
Statutory Auditors of the Company to hold office until the conclusion
of the ensuing Annual General Meeting and are eligible for
re-appointment. They have u/s 224(1) of the Companies Act, 1956
furnished a certificate of their eligibility for re-appointment.
Ownership of the Properties of the Company
All the assets of the Company are registered in the name of the
Company.
Events Occurring After the Balance Sheet Date
There were no significant events occurred after the Balance Sheet date,
which require adjustment in the figures as on the Balance Sheet date.
Particulars of Employees Pursuant to Section 217 (2A)
None of the employees is covered under Section 217 (2A) of the
Companies Act, 1956 read with the Companies (Particulars of Employees)
Rules, 1975 as amended.
There was no employee of the Company who, if employed throughout the
year, was in receipt of remuneration of X 60,00,000 or more per annum
and who, if employed for part of the year, was in receipt of
remuneration of X 5,00,000 or more per month.
Particulars regarding conservation of energy, technology absorption and
foreign exchange earnings and outgo
The Company is in to Service Industry and is not significant user of
Power. The particulars required to be furnished under the Companies
(Disclosure of Particulars in the Report of Board of Directors) Rules,
1988 to the extent applicable to the Company are as follows:
A) Conservation Of Energy:
a) Energy conservation measures taken/under implementation. Nil
b) Additional investments and proposals, if any, being implemented for
reduction in Nil consumption of energy.
c) Impact of measures at (a) and (b) above for reduction in energy
consumption and Nil consequent impact on the cost of production of
goods.
d) The total energy consumption and energy consumption per unit of
production. N.A.
B) Technology Absorption:
a) Research and Development Nil
b) Technology absorption, adaptation and innovation Nil
Directors Responsibility Statement
Pursuant to the requirement under Section 217(2AA) of the Companies
Act, 1956 with respect to Director''s Responsibility Statement, it is
hereby confirmed:
i) That in the preparation of the accounts for the financial year ended
31st March 2013, the applicable accounting standards have been followed
along with proper explanation relating to material departure;
ii) That the Directors have selected such accounting policies and
applied them consistently and made judgments and estimates that were
reasonable and prudent so as to give a true and fair view of the state
of affairs of the Company at the end of the of the financial year and
of the profit and loss of the Company for the year under review;
iii) That the Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of the Companies Act, 1956 for safeguarding the assets of
the Company and for preventing and detecting fraud and other
irregularities;
iv) That the Directors have prepared the accounts for the financial
year ended 31st March, 2013 on a ''Going Concern'' basis.
Replies to the comments of auditors
The observations of the Auditors in their report read with the accounts
are self-explanatory and therefore do not require further explanation.
Acknowledgements
Your Directors take this opportunity to place on record their
appreciation of the dedication and commitment of employees at all
levels in maintaining the sustained growth of your Company and remain
in forefront of media and entertainment business. Your Directors thank
and express their gratitude for the support and co-operation received
from Central and State Governments mainly the Ministry of Information
and Broadcasting and the Department of Telecommunication and other
stakeholders including, producers, venders, banks, investors, service
providers as well as regulatory and governmental authorities.
For and on behalf of the Board
For Kohinoor Broadcasting Corporation Ltd.
(Mangal Singh)
Managing Director
(Harjinder Singh)
Chandigarh, 14th August, 2013 Director
Mar 31, 2012
The Directors have pleasure in submitting the Eighteenth Annual Report
together with the Audited Accounts for the year ended 31st March, 2012.
Operating Results (Rs. Million)
31-03-2012 31-03-2011
Gross Receipts 7.05 24.83
Profit (Loss) before Interest,
Depreciation & Tax (18.40) 0.01
Less: Interest - -
Less: Depreciation and Amortization 62.40 69.02
Profit (Loss) before Exceptional,
Extraordinary Items & Tax (80.80) (69.01)
Less: Exceptional Items 280.20 (0.07)
Profit (Loss) before Extraordinary Items &
Tax (361.00) (68.94)
Less: Extraordinary items - -
Profit (Loss) before Tax (361.00) (68.94)
Less: Tax (Savings) (7.21) (10.53)
Net Profit (Loss) after Tax (353.79) (58.41)
Earnings Per Share (EPS) (3.21) (0.53)
Dividend
In view of inadequacy of profits during the financial year under
review, the Board of Directors expresses its inability to recommend any
Dividend.
Subsidiary Companies
The Company is not a subsidiary of any other Company. The Company has a
wholly owned subsidiary viz M/s Kohinoor Broadcasting Corporation FZE
situated at Hamriyah Free Zone, Sharjah - UAE. The main object of the
Subsidiary Company has been set out as General Trading. The Company
proposes to use the subsidiary Company as its distribution arm in
Middle East. The Accounts of the Subsidiary Company has been drawn in
accordance with UAE Commercial Companies Laws and has been duly audited
by independent auditors.
The Company has an Indian wholly owned subsidiary, M/s KBC Power
Corporation Limited. The company is engaged in the business of
manufacture of solar cell and solar modules. The Subsidiary company has
not yet started its commercial production. The financial results in
that respect at the close of the financial year 2011-12 have been
prepared and consolidated in the Consolidated Financial Statements.
In terms of General Circular No. 2/2011 dated 8th February 2011 read
together with General Circular No. 3/2011 dated 21st February 2011,
issued by the Ministry of Corporate Affairs under Section 212(8) of the
Companies Act, 1956, granting general exemption to companies from
attaching financial statements of subsidiaries, subject to the
fulfillment of conditions stated in the circular, copies of Balance
Sheet , Profit and Loss Account, Report of Board of Directors and
Auditors thereon of the subsidiary companies for the year ended on 31st
March 2012 are not attached to the Balance Sheet of the Company as the
company shall fulfill the following conditions:
(i) The Board of Directors of the company has vide Board resolution
dated 15th May, 2012 consented for not attaching the Balance Sheet (s)
of the concerned subsidiaries.
(ii) The Company has presented in its Annual Report, the consolidated
financial statements of holding company and all of its subsidiaries
duly audited by its statutory auditors.
(iii) The Consolidated financial statements has been prepared in strict
compliance with applicable accounting standards and where applicable,
Listing Agreement as prescribed by the Securities and Exchange Board of
India.
(iv) The Company has disclosed in its consolidated Balance Sheet the
following information in aggregate for each subsidiary :- (a) Capital
(b) Reserves (c ) Total Assets (d) Total Liabilities (e ) details of
investment (except in case of investment in subsidiaries) (f) Turnover
(g) Profit before taxation (h) provision for taxation (i) Profit after
taxation (j) proposed dividend, as applicable.
(v) The annual accounts and other related detailed information of the
subsidiaries viz., M/s Kohinoor Broadcasting Corporation FZE and M/s
KBC Power Corporation Limited shall be made available to the
shareholders of the holding company and subsidiary companies seeking
such information at any point of time.
(vi) Further, the annual accounts of the subsidiary companies shall
also be kept for inspection by any shareholder at the Head
office/Registered Office of the company and of the subsidiary
companies concerned and the Company shall furnish a hard copy of the
details of accounts of subsidiaries to any shareholder on demand.
(vii) The holding as well as subsidiary companies in question shall
regularly file such data to the various regulatory and Government
authorities as may be required by them.
(viii) The Company has given Indian rupee equivalent of the figures
given in foreign currency appearing in the accounts of the subsidiary
companies along with the exchange rate as on closing day of the
financial year.
As a good Corporate Governance practice, a statement pursuant to
Section 212(3) and 212(5) of the Companies Act 1956 containing the
details of subsidiaries of the company, forms part of the Annual
accounts of the company.
Listing
The Ordinary Equity Shares of the Company are listed at Bombay Stock
Exchange Limited. The Global Depositary Receipts issued by the Company
are listed at Luxembourg Stock Exchange.
Consolidated Financial Statements
The Audited Consolidated financial statements of the Company have been
drawn as per Accounting Standard (AS-21) issued by the Institute of
Chartered Accountants of India and has been attached with the Annual
Report.
Investment
The total value of the Investment translated in to INR in the wholly
owned subsidiary M/s Kohinoor Broadcasting Corporation FZE, registered
at Hamriyah Free Trade Zone, Sharjah - UAE amounted to Rs. 958.50
Million (US$ 18.79 Million} till the close of the financial year. The
Company has made an investment to the tune of Rs. 71785 in its Indian
subsidiary, KBC Power Corporation Limited.
Public Deposits
The Company has not accepted any deposits from the public within the
meaning of Section 58-A of the Companies Act, 1956 and rules there
under.
Insurance
All the properties of the Company including its buildings, equipment
etc. are adequately insured.
Directors
The Board of Directors of the Company is duly constituted as per the
requirements of Corporate Governance. There was no change in the board
during the financial year under review. Mr. Daljeet Singh and Mr.
Shivinder Pal Singh retire by rotation at the ensuing Annual General
Meeting and being eligible offers themselves for re-appointment.
Human Resources & Industrial Relations
The Company has not had any strikes or labour disputes since its
inception. The Company's employees do not belong to any labour unions
or other employee union. The Company emphasizes flexibility and
innovation. Employees are, therefore, selected on the basis of
individual ability to learn as well as on academic/professional
achievement, conceptual knowledge, and temperament for, and fit with,
the Company's corporate culture. The employees, members of the
administrative, management and supervisory bodies of the Company do not
hold any shares in the Company. There is no provision and/or scheme of
the Company to offer any stock option for involving any employee,
members of the administrative, management, supervisory bodies or staff
in the capital of the Company.
Public Takeovers and Exchange Offers
During the financial year 2011-12, no public takeover or exchange
offers by the third parties have been made in respect of the Company's
shares. Further, during the financial year 2011-12, no public exchange
offers have been made by the Company in respect of the shares of other
Companies.
Details of the Interruptions in the Business of the Company
There has been no interruption in the business of the Company, which
may have any significant effect on the Company's financial position.
However, the Company could not escape from the impact of global
recession.
Arrangement to Enable Directors to Acquire Shares and Debentures
Neither at the end nor at any time during the financial year was the
Company a party to any arrangement, whose object is to enable the
Directors to acquire benefits by means of acquisition of shares or
Debentures of the Company or other body corporate.
Nature and Extent of the Interests of the Members of the Company
There are no unusual transactions, with regard to the interests of the
administrative, management and supervisory bodies, which are unusual in
their nature or conditions during the preceding financial year and the
current financial year.
Directors' Interest in Shares and Debentures of the Company
The interest of Directors, holding office at the end of the financial
year, in the Shares and Debentures of the Company, according to the
Register of Directors' Shareholdings were as follows:-
Equity Shares of Rs. 10 Each %age of Total Capital
Beginning End of year Beginning End of year
Mr. Mangal
Singh
(Managing
Director) 400000 400000 0.36% 0.36%
Total 400000 400000 0.36% 0.36%
Except as disclosed in this report, no Director, who held office at the
end of the Financial year, had interest in Shares, Debentures, warrants
or Share options of the Company either at the beginning (or date of
appointment if later) and at the end of the Financial year.
Directors' Receipt and Entitlement to Contractual Benefits
During the year, no Director has, either directly or indirectly,
received or become entitled to receive a benefit which requires
disclosure under the Companies Act 1956 by reason of a contract made by
the Company or a related corporation with the Director or a firm of
which he is a member or with a Company in which he has a substantial
financial interest except as disclosed in the Financial Statement.
Company Secretary
During the financial year under review, the Company Secretary and
Compliance Officer, Ms. Nidhi Verma resigned due to her health
condition. The fresh appointment is being made.
Change in Shares Capital of the Company
There is no change in the Share Capital of the Company during the year.
The Authorized Share Capital of the Company remained at Rs.
1,160,000,000 divided into 116,000,000 Equity Shares of Rs. 10 each
both at the beginning and at the end of the year.
Compliance Report in respect of Cost Records
The company has maintained Cost Accounting Records in accordance with
Cost Accounting Record (Rules) 2011 applicable to the Company. M/s
Balwinder & Associates, Cost Accountants, have issued Compliance Report
dated 14th August 2012 on the Cost Accounting Records maintained by the
Company for the year 2011-12.
Corporate Governance
A separate report on Corporate Governance is included in Annual Report
and the Certificate from Company's Auditors confirming the compliance
of conditions on Corporate Governance as stipulated in the Clause 49 of
the listing agreement with the stock exchange is annexed thereto.
Management Discussion and Analysis
The report on the Management Discussion and Analysis is enclosed and
forms part of this Report.
Trading Pattern of Company's Shares at BSE
The Company's Equity Shares are listed and traded on the BSE. The
prices for Equity Shares as quoted in the official list of the BSE are
expressed in Indian Rupees. The following table sets forth the reported
high and low share prices quoted in Rupees for the Equity Shares and
the Trade Volume in terms of number of shares and number of trades for
the Equity Shares of the Company for the last five financial years.
(Source: www.bseindia.com)
Financial Year Share Price (in Rs.) Volume
High Low No. of Shares No. of
Trades
2007-2008 20.75 2.58 175786590 138600
2008-2009 9.91 2.00 80256640 65793
2009-2010 9.88 1.93 197089694 159113
2010-2011 3.19 1.15 55596534 25908
2011-2012 2.37 0.56 53547031 18905
Auditors
M/s Amit K Arora & Co., Chartered Accountants, Panchkula, who are the
Statutory Auditors of the Company to hold office until the conclusion
of the ensuing Annual General Meeting and are eligible for
re-appointment. They have u/s 224(1) of the Companies Act, 1956
furnished a certificate of their eligibility for re-appointment.
Ownership of the Properties of the Company
All the assets of the Company are registered in the name of the
Company.
Events Occurring After the Balance Sheet Date
There were no significant events occurred after the Balance Sheet date,
which require adjustment in the figures as on the Balance Sheet date.
Particulars of Employees Pursuant to Section 217 (2A)
None of the employees is covered under Section 217 (2A) of the
Companies Act, 1956 read with the Companies (Particulars of Employees)
Rules, 1975 as amended.
There was no employee of the Company who, if employed throughout the
year, was in receipt of remuneration of Rs. 60,00,000 or more per
annum and who, if employed for part of the year, was in receipt of
remuneration of Rs. 5,00,000 or more per month.
Particulars regarding conservation of energy, technology absorption and
foreign exchange earnings and outgo
The Company is in to Service Industry and is not significant user of
Power. The particulars required to be furnished under the Companies
(Disclosure of Particulars in the Report of Board of Directors) Rules,
1988 to the extent applicable to the Company are as follows:
A) Conservation Of Energy:
a) Energy conservation measures taken/under implementation. Nil
b) Additional investments and proposals, if any, being
implemented for reduction in consumption of energy. Nil
c) Impact of measures at (a) and (b) above for reduction
in energy consumption and Nil
consequent impact on the cost of production of goods.
d) The total energy consumption and energy consumption
per unit of production. N.A.
B) Technology Absorption:
a) Research and Development Nil
b) Technology absorption, adaptation and innovation Nil
C) Foreign Exchange Earnings and Outgo:
a) Activities relating to exports, initiative taken
to increase exports, development of new Nil
export markets for products and services and export plans.
b) Total Foreign Exchange Earnings and Outgo
during the year:
Earnings NIL
Outgo US$ 7250
Directors Responsibility Statement
Pursuant to the requirement under Section 217(2AA) of the Companies
Act, 1956 with respect to Director's Responsibility Statement, it is
hereby confirmed:
i) That in the preparation of the accounts for the financial year ended
31st March 2012, the applicable accounting standards have been followed
along with proper explanation relating to material departure;
ii) That the Directors have selected such accounting policies and
applied them consistently and made judgments and estimates that were
reasonable and prudent so as to give a true and fair view of the state
of affairs of the Company at the end of the of the financial year and
of the profit and loss of the Company for the year under review;
iii) That the Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of the Companies Act, 1956 for safeguarding the assets of
the Company and for preventing and detecting fraud and other
irregularities;
iv) That the Directors have prepared the accounts for the financial
year ended 31st March, 2012 on a 'Going Concern' basis.
Replies to the comments of auditors
The observations of the Auditors in their report read with the accounts
are self-explanatory and therefore do not require further explanation.
Acknowledgements
Your Directors take this opportunity to place on record their
appreciation of the dedication and commitment of employees at all
levels in maintaining the sustained growth of your Company and remain
in forefront of media and entertainment business. Your Directors thank
and express their gratitude for the support and co-operation received
from Central and State Governments mainly the Ministry of Information
and Broadcasting and the Department of Telecommunication and other
stakeholders including, producers, venders, banks, investors, service
providers as well as regulatory and governmental authorities.
For and on behalf of the Board
For Kohinoor Broadcasting Corporation Ltd.
(Mangal Singh)
Managing Director
(Harjinder Singh)
Director
Chandigarh, 14th August, 2012
Mar 31, 2010
The Directors have pleasure in submitting the Sixteenth Annual Report
together with the Audited Accounts for the year ended 31st March 2010.
Operating Results
(INR Million)
31-03-2010 31-03-2009
Gross Receipts 85.02 253.08
Profit before Interest,
Depreciation & Tax 13.32 218.03
Less Interest
Less Depreciation and Amortization 21.77 25.51
Less Tax (Savings) (2.83) (4.73)
Net Profit (Less) after Tax (5.62) 197.25
Assets Written Off (2.06) (48.38)
Profit (Loss) after Extraordinary Items (7.68) 148.87
Profit (Loss) Brought Forward (40.18) 42.30
Dividend and Tax thereon
Transfer to Reserves - 231.24
Provisions (Excess
Provisions Written Back) (1.42) 0.10
Profit Carried to Balance Sheet (46.44) (40.18)
Earning Per Share (EPS) (0.05) 1.79
Dividend
Keeping in view the global recession and slow down in the Indian
economy that has impacted the results of the Company, the Board of
Directors does not recommend any Dividend.
Subsidiary and Associate Companies
The Company is not a subsidiary of any other Company. The Company has a
wholly owned subsidiary viz M/s Kohinoor Broadcasting Corporation FZE
situated at Hamriyah Free Zone, Sharjah - UAE. The main object of the
Subsidiary Company has been set out as General Trading. The Company
proposes to use the subsidiary Company as its distribution arm in
Middle East.
The Accounts of the Subsidiary Company has been drawn in accordance
with UAE Commercial Companies Laws and has been duly audited by Al Saif
Auditors & Accountants, UAE, the Statutory Auditors of the Company. The
accounts along with Auditors report thereon has been attached with the
Annual Report.
Listing
The Ordinary equity shares of the Company are listed at Bombay Stock
Exchange Limited. The Global Depositary receipts issued by the Company
are listed at Luxembourg Stock Exchange. The Company has applied for
listing of its equity shares at National Stock Exchange, Mumbai.
Consolidated Financial Statements
The Audited Consolidated financial statements of the Company has been
drawn as per Accounting Standard (AS-21) issued by the Institute of
Chartered Accountants of India, and has been attached with the Annual
Report.
Investment
The total value of the Investment translated in to INR in the wholly
owned subsidiary M/s Kohinoor Broadcasting Corporation FZE, registered
at Hamriyah Free Trade Zone, Sharjah - UAE amounted to INR 921.96
Million (US$ 20.42 Million) till the close of the financial year.
During the year the Company has received back of its investment to the
tune of INR 19.07 Million {US$ 0.5 Million).
Public Deposits
The Company has not accepted any deposits from the public within the
meaning of Section 58-A of the Companies Act 1956 and rules there
under.
Insurance
All the properties of the Company including its Buildings, Equipments
etc. are adequately insured.
Directors
The Board of Directors of the Company is duly constituted as per the
requirements of Corporate Governance. There was no change in the board
during the year. Mr. Kulwinder Singh retires by rotation at the ensuing
Annual General Meeting being eligible offers himself for reappointment.
Human Resources & Industrial Relations
The Company has not had any strikes or labour disputes since its
inception. The Companys employees do not belong to any labour unions
or other employee union. The Company emphasizes flexibility and
innovation. Employees are, therefore, selected on the basis of
individual ability to learn as well as on academic/professional
achievement, conceptual knowledge, and temperament for, and fit with,
the Companys corporate culture. The employees, members of the
administrative, management and supervisory bodies of the Company do not
hold any Shares in the Company. There is no provision and/or scheme of
the Company to offer any stock option for involving any employee,
members of the administrative, management, supervisory bodies or staff
in the capital of the Company.
Public Takeovers and Exchange Offers
During the financial year 2009-2010, no public takeover or exchange
offers by the third parties have been made in respect of the Companys
shares. Further, during the financial year 2009-2010, no public
exchange offers have been made by the Company in respect of the shares
of other Companies.
Details of the Interruptions in the Business of the Company
There has been no interruption in the business of the Company, which
may have any significant effect on the Companys financial position.
However the Company could not escape from the impact of global
recession.
Arrangement to Enable Directors to Acquire Shares and Debentures
Neither at the end nor at any time during the financial year was the
Company a party to any arrangement, whose object is to enable the
Directors to acquire benefits by means of acquisition of shares or
Debentures of the Company or other body corporate.
Nature and Extent of the Interests of the Members of the Company
There are no unusual transactions, with regard to the interests of the
administrative, management and supervisory bodies, which are unusual in
their nature or conditions during the preceding financial year and the
current financial year.
Directors Interest in Shares and Debentures of the Company
The interest of Directors, holding office at the end of the financial
year, in the Shares and Debentures of the Company, according to the
Register of Directors Shareholdings were as follows:-
Equity Shares of %age of Total Capital
Rs. 10 Each
Beginning End of year Beginning End of year
Mr. Mangal Singh
(Managing Director) 253950 400000 0.23% 0.36%
Total 253950 400000 0.23% 0.36%
Except as disclosed in this report, no Director, who held office at the
end of the Financial year, had interest in Shares, Debentures, warrants
or Share options of the Company either at the beginning (or date of
appointment if later) and at the end of the Financial year.
Directors Receipt and Entitlement to Contractual Benefits
During the year, no Director has, either directly or indirectly,
received or become entitled to receive a benefit which is require
disclosure under the Companies Act 1956 by reason of a contract made by
the Company or a related corporation with the Director or a firm of
which he is a member or with a Company in which he has a substantial
financial interest except as disclosed in the financial Statement.
Change in Shares Capital of the Company
The is no change in the Share Capital of the Company during the year.
The Authorized Share Capital of the Company remained at Rs.
1,160,000,000 divided into 116,000,000 equity Shares of Rs.10 each both
at the beginning and at the end of the year.
Corporate Governance
A separate annexure on corporate governance is included in annual
report and the certificate from Companys Auditors confirming the
compliance of conditions on corporate governance as stipulated in the
clause 49 of the listing agreement with the stock exchange is annexed
thereto.
Management Discussion and Analysis
The report on the Management Discussion and Analysis is enclosed and
forms part of this Report.
Trading Pattern of Companys Shares at BSE
The Companys equity Shares are listed and traded on the BSE. The
prices for equity Shares as quoted in the official list of the BSE are
expressed in Indian Rupees. The following table sets forth the reported
high and low share prices quoted in Rupees for the equity Shares and
the Trade Volume in terms of number of shares and no. of trades for the
equity Shares of the Company for the Last Five financial years.
Financial Year Share Price (in Rs.) Volume
High Low No. of Shares No. of Trades
2006-2007 9.79 3.05 6916956 17581
2007-2008 20.75 5.21 165319496 166697
2008-2009 11.00 2.19 139867832 74610
2009-2010 9.91 2.05 76284090 101320
Auditors
M/s Amit K Arora & Co., Chartered Accountants, Chandigarh, who are the
statutory Auditors of the Company to hold office until the conclusion
of the ensuing Annual General Meeting and are eligible for
re-appointment. They have, U/s 224(1) of the Companies Act. 1956,
furnished a certificate of their eligibility for re-appointment along
with the certificate received from the Peer Review Board of the IC AI.
Ownership of the Properties of the Company
All the assets of the Company are registered in the name of the
Company.
Events Occurring After the Balance Sheet Date
There were no significant events occurred after the Balance Sheet date,
which require adjustment in the figures as on the Balance Sheet date.
Particulars of Employees Pursuant to Section 217 (2A)
None of the employees is covered under section 217 (2A) of the
Companies Act, 1956 read with the Companies
(Particulars of Employees) Rules, 1975 as amended.
There was no employee of the Company who, if employed throughout the
year, was in receipt of remuneration of Rs. 24,00,000 or more per
annum and who, if employed for part of the year, was in receipt of
remuneration of Rs. 2,00,000 or more per month.
Particulars regarding conservation of energy, technology absorption and
foreign exchange earning and outgo
The Company is in to service Industry and is not significant user of
Power. The particulars required to be furnished under the Companies
(Disclosure of particulars in the report of Board of Directors) Rules,
1988 to the extent applicable to the Company are as follows.
A) Conservation Of Energy:
a) Energy conservation measures taken/under implementation. Nil
b) Additional investments and proposals,
if any, being implemented for
reduction in Nil
consumption of energy.
c) Impact of measures at (a) and (b) above for reduction
in energy consumption and consequent Nil
impact on the cost of production of goods.
d) The total energy consumption and energy consumption
per unit of production. N.A.
B) Technology Absorption:
a) Research and Development Nil
b) Technology absorption, adaptation and innovation Nil
C) Foreign Exchange Earnings and Outgo:
a) Activities relating to exports, initiative taken
to increase exports, development of new export Nil
markets for products and
services and export plans.
b) Total Foreign Exchange Earnings and Outgo during
the year:
Earnings US$ 500,000
Outgo US$ 5500
Directors Responsibility Statement
Pursuant to the requirement under section 217C2AA) of the Companies
Act, 1956 with respect to Directors Responsibility Statement, it is
hereby confirmed:
i) That in the preparation of the accounts for the financial year ended
31st March 2010, the applicable accounting standards have been followed
along with proper explanation relating to material departure;
ii) That the Directors have selected such accounting policies and
applied them consistently and made judgments and estimates that were
reasonable and prudent so as to give a true and fair view of the state
of affairs of the Company at the end of the of the financial year and
of the profit and loss of the Company for the year under review;
iii) That the Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of the Companies Act, 1956 for safeguarding the assets of
the Company and for preventing and detecting fraud and other
irregularities;
iv) That the Directors have prepared the accounts for the financial
year ended 31st March 2010 on a going concern basis.
Replies to the comments of auditors
The Directors have pleasure in reporting that the statutory auditors of
the Company have not made any adverse remarks which require comments of
the directors.
Acknowledgements
Your Directors take this opportunity to place on record their
appreciation of the dedication and commitment of employees at all
levels in maintaining the sustained growth of your Company and remain
in forefront of media and entertainment business. Your Directors thank
and express their gratitude for the support and co-operation received
from central and state Governments mainly the Ministry of Information
and Broadcasting and the Department of Telecommunication and other
stakeholders including, producers, venders, banks, investors, service
providers as well as regulatory and governmental authorities.
For and on behalf of the Board
For Kohinoor Broadcasting Corporation Ltd.
(Mangal Singh)
Managing Director
(Harjinder Singh)
Chandigarh, 2nd July 2010 Director