Mar 31, 2009
1.1 Contingent Liabilities
a) Bank Guarantees issued by the bank on behalf of the company (net of
margin) Rs. 26.6l.736/-Previous"year Rs.63,34,989.32).
1.2 Loans and Advances include Rs. 1.50,00.000.00 (Previous Year Rs
1,50.00,000.00) advanced to MPCIL- ESOS Trust.
1.3 Cost of Production is net of Rs 32.02.375.00 (Previous Year
Rs.33.59,125.00), which is carried as Work in Progress.
1.4 Investments in unquoted equity shares of subsidiary company TV AM
(India) Pvt. Ltd. are stated at cost. Diminution in the value of
investment and provision lor diminution in the value of investments is
provided during the year.
1.5 Related Party Disclosures (AS 18) :
(i) List of related parties with whom transactions have taken place and
relationship:
S. No. Name of Related Party Relationship
1. TV AM (India} Pvt.Ltd. Subsidiary Company
2. Mr. Ramesh Sharma Key Management Personnel
Mrs. Lima Gajapati Raju
Ms. Sanchaita Gajapati Raju*
Mr. Vinay Jha
3. Mr. Suneel Sharma brother
of Mr. Relative of Key Management
Personnel
Ramesh Sharma
4. First Channel India Pvt. Ltd. Enterprises over which key
management
Mind Life Soul Dot Com Pvt.
Ltd. personnel exercise
significant influence.
1.6 Events after Balance Sheet
The share Warrants issued by Company of the face value of Rs. 10/-per
warrant amounting Rs.29,90,000/- which was to be added to the Capital
of the Company have not been subscribed. The application money of Rs.
29,90,000/- has been forfeited by the Company.
1.7 Accounting for Taxes on Income (AS - 22):
Deferred-tax assets has not been recognized as there is a no reasonable
certainty that sufficient future taxable income will be available
against which such deferred- tax assets can be realized.
1.8 There arc no balances due to the entities registered under the
Micro, Small and Medium Enterprises Development Act, 2006.
1.9 Some of the debit and credit balances are subject to
reconciliation and confirmation. The company is in the process of
reconciling such balances
1.10 Previous year figures have been regrouped/ rearranged wherever
considered necessary.
1.11 Schedules I to IX form an integral part of the Balance Sheet and
Profit & Loss Account and have been duly authenticated.
1.12 Information pursuant to the provisions of paragraph 3, 4(c) and
4(d) of the part II of the Schedule VI of the Companies Act, 1956 is
given the the extent applicable.
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