Mar 31, 2015
The Directors have pleasure in presenting their 26th Annual Report of
the Company along with Audited Accounts for the Financial Year ended 31
st March 2015.
1. FINANCIAL RESULTS:
The Company's financial performance is given hereunder:
(Rs.)
Particulars Financial Year
ended Financial Year
ended
31.03.2015 31.03.2014
Sales & other income 0 1,21,895
Profit before tax (11,32,545.87) (60,70,030.04)
Less Provision of Tax 0 12,82,800
Profit after tax (11,32,545.87) (73,52,830.04)
Appropriations:
Equity Dividend
(i) Interim 0 0
(ii) Final 0 0
Corporate Tax on Dividend
(i) Interim 0 0
(ii) Final 0 0
Transfer from Debenture
Redemption Reserve 0 0
Balance of profit brought
forward from previous year (2,193,07,951.56) (2,119,55,121.52)
Balance carried to
Balance Sheet (2,563,20,053.50) (219,307,951.56)
During the year under review, the company has not earned net profit.
2. DIVIDEND:
Due to loss incurred by the Company during the financial year, the
Board has not recommended any dividend for the year ended 31st March
2015.
3. RESERVES
No amount is proposed to be transferred to General Reserves for the
financial year 2014-15.
4. BRIEF DESCRIPTION OF THE COMPANY'S WORKING DURING THE YEAR/STATE OF
COMPANY'S AFFAIR
The Company is engaged in production of TV Serial Making. During the
year, some of the major operations of the Company had been
substantially reduced, the performance of the Company is expected to be
better in the coming years.
5. CHANGE IN THE NATURE OF BUSINESS
There was no change in the nature of business of the company during the
financial year under review.
6. MATERIAL CHANGES AND COMMITMENTS, IF ANY, AFFECTING THE FINANCIAL
POSITION OF THE COMPANY WHICH HAVE OCCURRED BETWEEN THE END OF THE
FINANCIAL YEAR OF THE COMPANY TO WHICH THE FINANCIAL STATEMENTS RELATE
AND THE DATE OF THE REPORT
Except as disclosed elsewhere in this report, no material changes and
commitments which could affect the Company's financial position have
occurred between the end of the financial year of the Company and date
of this report.
7. DETAILS IN RESPECT OF ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH
REFERENCE TO THE FINANCIAL STATEMENTS
The Company has in place adequate internal financial controls with
reference to financial statements. During the year under review, no
material or serious observations has been received from the Internal
Auditors of the Company regarding inefficiency or inadequacy of such
control.
8. DETAILS OF SUBSIDIARY/JOINT VENTURES/ASSOCIATE COMPANIES
The Company has no Subsidiary/Joint Ventures/Associate Companies.
9. PERFORMANCE AND FINANCIAL POSITION OF EACH OF THE SUBSIDIARIES,
ASSOCIATES AND JOINT VENTURE COMPANIES INCLUDED IN THE CONSOLIDATED
FINANCIAL STATEMENT
The Company has no Subsidiary/ Joint Ventures/Associate Companies.
10. DEPOSITS
The Company has not accepted any deposits during the financial year
under review.
11. AUDITOR'S AND THEIR REPORT
Your Directors request that the appointment of M/s K. L. Datta & Co.,
Chartered Accountants needs to be ratified at their annual general
meeting and being eligible offers themselves for ratification. The
Company has received a certificate from the auditors to the effect that
their ratification if made, would be in accordance with the provision
of section 141 of the Companies Act 2013.
Comments of the Auditors in their report and the notes forming part of
the Accounts, are self explanatory and need no comments. During the
year under review, the auditor needs not to be routed as they have not
completed the tenure of 3 years.
12. COST AUDITOR'S AND THEIR REPORT
The Concept of Cost Audit is not applicable to the Company.
13. APPOINTMENT OF SECRETARIAL AUDITORS AND THEIR REPORT
The Company has appointed M/s Himanshu Sharma & Associates, Company
Secretaries to hold the office of the Secretarial Auditors and to
conduct the Secretarial Audit Report and the Secretarial audit Report
(Form No. MR.3) is being attached with the Directors report which is
self explanatory and needs no comments. (Attached as Annexure - I)
14. MANAGEMENT'S DISCUSSION AND ANALYSIS REPORT
Management's Discussion and Analysis Report for the year under review,
as stipulated under Clause 49 of the Listing Agreement with the Stock
Exchanges in India, is presented in a separate section forming part of
the Annual Report.
15. CORPORATE GOVERNANCE
The Company is committed to maintain the highest standards of corporate
governance and adhere to the corporate governance requirements set out
by SEBI. The Company has also implemented several best corporate
governance practices as prevalent globally. The report on Corporate
Governance as stipulated under the Listing Agreement forms an integral
part of this Report. The requisite certificate from M/s Himanshu Sharma
& Associates, Company Secretaries of the Company confirming compliance
with the conditions of corporate governance is attached to the report
on Corporate Governance.
16. SHARE CAPITAL
A) Issue of equity shares with differential rights
The Company has not issued equity shares with differential rights.
B) Issue of sweat equity shares
The Company has not issued sweat equity shares.
C) Issue of employee stock options
The Company has not issued employee stock options.
D) Provision of money by company for purchase of its own shares by
employees or by trustees for the benefit of employees Since shares of
the Company has not purchased by the employees or trustees for their
benefits therefore there is no requirement for the provision of money
to be made by the Company for the same purpose.
17. EXTRACT OF THE ANNUAL RETURN
The extract of the annual return in Form No. MGT - 9. (Attached as
Annexure - II)
18. DIRECTORS AND KEY MANAGERIAL PERSONNEL :
A) Changes in Directors and Key Managerial Personnel
The Board consists of non-executive directors including independent
directors who have wide and varied experience in different disciplines
of corporate functioning.
There was no change in the Board of the Company.
During the year Ms. Kirti Gaind, Company Secretary resigned w.e.f 30th
May 2015, Ms. Anju Rawat was appointed w.e.f 08 August 2014 as Company
Secretary in place of Ms. Kirti Gaind, Ms. Anju Rawat resigned from the
post of Company Secretary w.e.f 12 January 2015 and Mr. Purushotam
Pandey was appointed as Company Secretary w.e.f. 30 January 2015 and
resigned w.e.f 30 March 2015 and appointed Mr. Manish Chopra w.e.f 30
march 2015.
B) Declaration by an Independent Director(s) and re- appointment, if
any
The Independent directors have submitted their disclosure to the Board
that they fulfill all the requirements as to qualify for their
appointment as an Independent Director under the provisions of Section
149 of the Companies Act, 2013. The Board confirms that the said
independent directors meet the criteria as laid down under the
Companies Act, 2013.
The Board proposes the terms of 5 years for the independent directors
and they shall not be liable to retire by rotation.
C) Formal Annual Evaluation
The evaluation framework for assessing the performance of Directors
comprises of the following key areas:
- Attendance of Board Meetings and Board Committee Meetings
- Quality of contribution to Board deliberations
- Strategic perspectives or inputs regarding future growth of Company
and its performance
- Providing perspectives and feedback going beyond information provided
by the management
- Commitment to shareholder and other stakeholder interests
The evaluation involves Self-Evaluation by the Board Member and
subsequently assessment by the Board of Directors. A member of the
Board will not participate in the discussion of his / her evaluation.
19. NUMBER OF MEETINGS OF THE BOARD OF DIRECTORS:
The Board of Directors met five times during the financial year 2014-15
on 9th April 2014, 8th August 2014,15 November 2014, 30th January 2015
and 30th March 2015 as detailed in the Corporate Governance Report.
20. MANAGERIAL REMUNERATION:
The Company did not have any employee falling under Rule 5(2) of the
Companies (Appointment and Remuneration of Managerial Personnel) Rules,
2014
Since no director of the Company was in receipt of any remuneration or
commission therefore the company is not required to make disclosure
under the applicable provisions of the Companies Act, 2013.
21. DISCLOSURE REGARDING VARIOUS COMMITTEES:
There are currently three Committee of the Board which are as follows :
a) Audit Committee
b) Nomination & Remuneration Committee
c) Stakeholders' Relationship Committee
Details of all the Committees along with their composition, charters
and meetings held during the year, are provided in the "Report on
Corporate Governance", a part of this Annual Report.
22. VIGIL MECHANISM FOR DIRECTORS AND EMPLOYEES
The Company has established a vigil mechanism for Directors and
employees to report their genuine concerns, details of which have been
given in the Corporate Governance Report forming part of annual report
23. RISK MANAGEMENT POLICY
In terms of new provision of Clause 49 & contemporary practices of good
corporate governance, Company has developed the policies & procedures
to assess the risk associated with the company and minimization thereof
and periodically informed the Board of Directors for their review to
ensure that the executive management, controls the risk in accordance
with defined policies and procedures adopted by the company.
24. LISTING
The shares of the Company are listed at Ahmedabad, Delhi, Calcutta and
Bombay Stock Exchange Ltd.
25. CORPORATE SOCIAL RESPONSIBILITY (CSR)
Since the Company is not meeting any criteria laid down under Section
135(1) of the Companies Act, 2013, the Company is not required to
constitute Corporate Social Responsibility Committee and also not
required to contribute any amount towards the Corporate Social
Responsibility Activities.
26. DISCLOSURE UDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE
(PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013.
The Company has in place an Anti Sexual Harassment Policy in line with
the requirement of the Sexual Harassment of Women at the workplace
(Prevention, Prohibition, Redressal) Act, 2013. Internal Complaints
Committee (ICC) has been set up to redress the complaints received
regarding sexual harassment. All employees (permanent, contractual,
temporary, trainees) are covered under this policy. No compliant has
been received in this regard.
27. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186:
- Nil
28. PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:-
The Company has not entered any contract or made any arrangement with
the related parties during the financial year.
29. DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS
OR COURTS OR TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANY'S
OPERATIONS IN FUTURE
There were no significant and material orders passed by the regulators
or courts or tribunals impacting the going concern status and company's
operations in future.
30. OBLIGATION OF COMPANY UNDER THE SEXUAL HARASSMENT OF WOMEN AT
WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013
The Company has adopted a policy for prevention of Sexual Harassment of
Women at workplace .During the year Company has not received any
complaint of harassment.
31. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO:
The details of conservation of energy, technology absorption, foreign
exchange earnings and outgo are as follows:
(A) Conservation of energy : N.A.
(B) Technology absorption : N.A.
(C) Foreign exchange earnings and Outgo: N.A.
32. DIRECTORS' RESPONSIBILITY STATEMENT:
The Board hereby affirms:
(a) in the preparation of the annual accounts, the applicable
accounting standards had been followed along with proper explanation
relating to material departures;
(b) the directors had selected such accounting policies and applied
them consistently and made judgments and estimates that are 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 financial year and of the profit and
loss of the company for that period;
(c) the directors had taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of this Act for safeguarding the assets of the company and
for preventing and detecting fraud and other irregularities;
(d) the directors had prepared the annual accounts on a going concern
basis;
(ej the directors had laid down internal financial controls to be
followed by the company and that such internal financial control are
adequate and were operating effectively; and
(f) the directors had devised proper systems to ensure compliance with
the provisions of all applicable laws and that such systems were
adequate and operating effectively.
ACKNOWLEDGEMENTS
The Directors wish to place on record their appreciation for the
sincere services rendered by employees of the Company at all levels.
Your Directors also wish to place on record their appreciation for the
valuable co-operation and support received from the Government of
India, various state governments, the Banks/financial institutions and
other stakeholders such as, shareholders, customers and suppliers,
among others. The Directors also commend the continuing commitment and
dedication of the employees at all levels, which has been critical for
the Company's success. The Directors look forward to their continued
support in future.
By Order of the Board of Directors
For MOVING PICTURE COMPANY (INDIA) LIMITED
Ramesh Sharma Bhim Sain Goyal
Director Director
DIN: 00021655 DIN: 02139510
Place: New Delhi
Date : 14/08/2015
Mar 31, 2009
The Directors have pleasure in presenting the Annual Reporl-2009 and
the audited financial accounts for the Year ended March 31. 2009.
FINANCIAL RESULTS
(Rs, In Lacs)
Year ended March 31 2009 2008
Turnover 465.40 728.39
Profit (loss) before depreciation
Interest and Tax (384.17) (71.96)
Financial Charges 6.92 21.73
Depreciation on Media Archive library 160.95 0.00
Depreciation on other assets 31.51 19.96
Deferred Tax Assets charged to Revenue 288.84 0.00
Act Profit (Loss). (879.87) (215.93)
Paid un Capital 1321.37 1321.37
Pernings per Share (6.66) (2.35)
Kook Value per Share 10.26 16.63
DIVIDEND
Hoard has not recommended any divided for the year ended March 31. 2009
OPERATIONS
During the year some of the major programmes. Produced/teleeast/sold by
the Company were:
1. MTV Stripped: Weekly show based on life of TV Stars every Friday at
7.00 P.M. on MTV.
2. Filmy Cocktail: weekly show of Bollywood Gossip and Gyaan every
Sunday at 8:30 pm & Friday 6:30 pm. on FILMY
3. Biographies; A series of Biographies on Bollywoods most
accomplished and respected artists, a weekly show on ZOOM.
4. Bollywood Casefiles: BOLLYWOOD fasciites is an original
investigative series that takes on the scandals, rumors and distracting
mysteries that have rocked the film industry a two days a week show on
ZOOM.
5. Jabardast .janamdin-Amitabh Bachchan: Special 6 episode series
highlighting the journey of legend. The humble beginning to being
called the "angry young man" and now the star of the millennium on STAR
GOLD.
6. Chandni Chowk To Bollywood - A Journey Of A Superstar: A seven week
long festival of best of blockbuster movies of Akshay Kumar culminates
in a star studded event on STAR GOLD.
7. KLUB MI : A talent hunt that spotlights the hottest up-and-coming
talent from around the country to select the FIRST EVER MOVIE JOCKEY on
Zee Cinema
8. Sabse Favourite Kaun 08-09: 6th edition of "SABSE FAVORITE KAUN".
One of the most awaited Award Functions in Bollywood, where the
(favorites are chosen by audiences
9. B News - a two days a week for ZEE MUSIC Channel, which evinces
great interest in the audience.
10. Extra Shots- a series for SONY SET MAX Channel, which evinces
great interest in the audience.
In addition. Company also produced several corporate films for reputed
business houses and other programming for Government Ministries
departments.
DIRECTORS
Mr. P.L.. Kapur. Director of the Company retires by rotation and being
eligible, offers himself for re-appointment.
The particulars of Mr. PL. Kapur. as arc required to be circulated to
the shareholders in compliance with clause 49 of the Listing Agreement,
are as follows:
Mr P.L. Kapur was appointed as a director of the Company by the Board
at its meeting held on July 16. 2001. Mr. Kapur is a Chartered
accountant with over 33 years of experience in finance and Accounts.
Banking. Corporate Laws. Exchange control and Tax Matters. He is also
the Chairman of Audit Committee of the Board.
Mr. Pankaj Agrawal. Director of the Company retires by rotation and
being eligible, offers himself for re-appointment.
The particulars of Mr. Pankaj Agrawal. as are required to be circulated
to the shareholders in compliance with clause 49 of the Listing
Agreement, are as follows:
Mr. Pankaj Agrawal was appointed as a Director of the Company at its
meeting held on 23rd June. 2004. Mr. Pankaj Agrawal is a Chartered
Accountant having more than two decades of experience in finance/He
has. worked with a large international bank.
Directors recommend re-appointment of Mr, P. L. Kapur and Mr. Pankaj
Argawal as directors of the Company.
SECRETARIAL AUDIT
As directed by the Securities and Exchange Hoard of India (SEBI).
Secretarial Audit is being carried out at the specified periodicity by
a Practising ( Company Secretary. The findings of the Secretarial Audit
were satisfactory.
DIRECTORS RESPONSIBILITY STATEMENT
The Board hereby affirms:
i) that in the preparation of the annual accounts, the applicable
accounting standards have been followed with proper explanation
relating to material departures:
ii) that the directors have selected such accounting policies and
applied them consistently and made judgments and estimates that arc
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 financial year and of the
profit and loss of the Company for that year:
iii) that the directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the
provisions of this Act for safeguarding the assets of the Company and
for preventing and detecting fraud and other irregularities:
iv) that the directors have prepared the annual accounts on a going
concern basis.
AUDITORS
M/s. Uberoi Sood & Kapoor. Chartered Accountants, the Statutory
Auditors of the Company, retire at the conclusion of the forthcoming
Annual General Meeting and being eligible, have offered themselves for
re-appointment. The Company has received a certificate from them to the
effect that their appointment, if made, shall be within the limits
prescribed under section 224(1B) of the Companies Act, 1956.
Their appointment has been recommended by the Audit Committee at its
meeting held on September 2, 2009 necessary resolution is being placed
before the shareholders for approval.
AUDITORS REPORT
The observations of the Auditors are self-explanatory and therefore, do
not call for any further comments.
CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION
Information pursuant to Section 217(I)(e) of the Companies Act, 1956,
read with the Companies (Disclosure of Particulars in the Report of the
Board of Directors) Rules. 1988, relating to the Conservation of Energy
and Technology Absorption is not applicable to our Company.
FOREIGN EXCHANGE EARNINGS AND OUTGO
(Rs. In Lacs)
FOR THE YEAR ENDED 31ST MARCH,
2009 31ST MARCH,
2008
(A) Total Foreign Exchange
Earned 0.88 22.49
(B) Total Foreign Exchange
Used 5.60 3.90
PERSONNEL
There arc no employees of the Company in respect of whom information as
per Section 217 (2A) of the Companies Act, 1956, read with the
Companies (Particulars of Employees) Rules. 1975, is required to be
given.
ACKNOWLEDGEMENT
The Board wishes to record its appreciation of all the efforts put in
by the shareholders, staff, business clients, bankers and associates of
the Company. who have been supportive of the Company during the year.
Regd. Office: F8, First Floor, 102 By Order of the Board
Maharani Plaza, Nafed Complex
Ashran Chowk, New Delhi - 110 014
Date: September 2. 2009 Sd/-
RAMESH SHARMA
Chairman
Disclaimer: This is 3rd Party content/feed, viewers are requested to use their discretion and conduct proper diligence before investing, GoodReturns does not take any liability on the genuineness and correctness of the information in this article