Mar 31, 2015
1. The company has only one class of shares referred to as equity
shares having a par value of Rs. 10/- each and holder of equity shares
is entitled to one vote per share.
2. During the year company has issued 6,87,300 shares at a premium of
Rs. 10 per share.
3. Reconciliation of shares outstanding at the beginning and end of
the year
Secured loan from bank is raised against security of the assets which
are as follows
4. Property of Director Mr. Ratish Tagde located at Flat No. 72,
Building No 6, A wing, Kalpataru Estate is mortgaged against CC limit
of 1.69 Cr.
5. All Debtors are Hypothecated against CC Limit
The carrying values of assets/cash generating units , at each balance
sheet date are reviewed for impairment, if any indication of impairment
exists .If the carrying amount of the assets exceed the estimated
recoverable amount , impairment is recognized for such excess amount.
The impairment loss is recognised as an expense in the Statement of
Profit & Loss a/c. During the year company has recognised contents to
the extent of book value of Rs. 16,312,500.
6. Related party Disclosure
1. Relationships
a) Enterprises in which Key Management Personnel have significant
Influence
Perfect Octave Private Limited
Perfect Company Advice Private Limited
Insync Music Education Pvt.
Ltd Raga Cafe LLP
Valay Foundation (NGO- Trust)
b) Key Management Personnel and their relatives:
Mr. Ratish Tagde - Managing director
Mahesh Tagde - Director Vivek
Salian - Director Bharat Gada - Director
Seema Tagde - Director
Komal Deshmukh-Samant - Company Secretary
Geeta Gada - Relative of Director
Sharad Tagde - Relative of Director
Previous year's figures have been regrouped / rearranged wherever
necessary, so as to make them comparable with those of the current
year.
7. During the year the company was operational mainly in trading
activity of contents .Hence Segment Reporting is not applicable.
8. Expenses in foreign currency: NIL (P.Y. NIL)
Earnings in foreign currency: NIL (P.Y. NIL)
Mar 31, 2014
1. Share Capital
(i) The company has only one class of shares referred to as equity
shares having a par value of Rs. 10/- each and holder of equity shares
is entitled to one vote per share.
2. Share Application Money Pending Allotment
The company shall be allotting shares against the share application
money in the ensuing Annual General Meeting.
3. Deferred Tax Assets (net)
The net deferred tax asset is on carry forward losses, the company did
not recognize the same because there is no virtual certainty that
sufficient taxable income will be available.
4. Secured loan from bank is raised against security of the assets which
are as follows
1) Property of Director Mr. Ratish Tagde located at Flat No. 72,
Building No 6, A wing, Kalpataru Estate is mortgaged against CC limit
of 1.69 Cr.
2) All Debtors are Hypothecated against CC Limit as collateral.
5. Capital Work in Progress
1) The valuation of the fixed assets has been taken, valued and
certified by the managing director of the company
2) The company has received contents of Rs. 2,21,39,777 on account of
merger with Gandhar Media Limited in FY 2012-13. The same was showed as
closing stock in that year. During the current year some contents was
selected to air on the new TV channel launched by the company. The
management has identified such contents and they are capitalized in the
books of accounts as on 31st March, 2014. The value of content capital
capitalized amounts to Rs. 1,47,12,500.
3) The management has also selected some closing stock of contents
shown in profit & loss account to be aired on its channel. The same is
capitalized in the books of accounts as on 31st March, 2014. The value
of such contents amounts to Rs. 16,00,000/-.
4) No Depreciation is charged on such assets as it is capitalized on
the last day of the year.
6. Changes in inventories of finished goods, work-in progress and
stock-in-trade
Note- During the year the company has selected the entire stock of
contents for airing on its channel. On account of the same these stock
are transferred to fixed assets on 31st March, 2014.
7. Related party Disclosure
1. Relationships
a. Enterprises in which Key Management Personnel have significant
Influence:
Perfect Octave Private Limited
Perfect Company Advice Private Limited
Insync Music Education Pvt. Ltd
Raga Cafe LLP
Valay Foundation (NGO- Trust)
b. Key Management Personnel and their relatives:
Mr. Ratish Tagde - Managing director
Mahesh Tagde - Director
Vivek Salian - Director
Bharat Gada - Director
Komal Deshmukh-Samant - Company Secretary
Geeta Gada - Relative of Director
Seema Tagde - Relative of Director
Sharadchandra Tagde - Relative of Director
8. Previous year''s figures have been regrouped/rearranged wherever
necessary, so as to make them comparable with those of the current
year.
9. During the year the company was operational mainly in trading
activity of contents .Hence Segment Reporting is not applicable.
10. Expenses in foreign currency : NIL (P.Y. NIL)
Earnings in foreign currency : NIL (P.Y. NIL)
Mar 31, 2013
Note 1.1 Scheme of Amalgamation
The company during the previous year, pursuant to the scheme of
Amalgamation and Arrangement ("the schemesÂ) under sections 391 to 394
of the Companies Act, 1956 approved by the Hon''ble High Court of
respective Judicature, have recorded all necessary accounting effects,
along with requisite disclosure in notes to accounts, in accordance
with the provisions of the said scheme.
As per the scheme approved by the Honorable High Court for amalgamation
of ''Gandhar Media Limited (Transferor Company) with the "Perfect
Octave Media Projects Limited (Transferee Company) the same has been
carried out as provisions mention in the court order. The assets are
recorded as per audited balance sheet of Transferor Company as on
18/10/2012 being the effective date of amalgamation. As per the
provisions mention in the court order the difference between the
consideration and the value of net identified assets acquired is
recognised as Goodwill.
Accordingly, on the effective date i.e. 18/10/2012, all assets &
liabilities of the Transferor Company have been transferred to the
Transferee Company at its Book value.
Mar 31, 2012
Company Overview :
Perfect-Octave Media Projects Limited, is engaged in broadcasting,
managing events, producing concerts and promotes & manages performers
and produces motion pictures and television programming.
Mar 31, 2011
1. Information under 4D of Para II, Para 3 and 4 of Part II of
Schedule VI of the Companies Act, 1956 are not applicable to the
Company.
2. In accordance with the Accounting Standard 22 on "Accounting for
Taxes on Income",(AS 22) issued by The Institute of Chartered
Accountants of India, Deferred assets and liabilities are recognized
for all timing differences in accordance with the said standard.
Deferred Tax Asset and Provision for MAT Credit is not recognized as
matter of prudence.
3. Directors Remuneration: Salaries Rs. NIL/- (P.Y. Rs. NIL)
4. Balance of Debtors, Creditors, Loan & Advances are subject to
confirmation and/or reconciliation/consequential adjustments, if any.
5. The Company has issued equity shares amounting to Rs. 4,39,00,000
during the year.
6. The Company has given advance amounting to Rs. 4,27,00,000/- for
purchase of copyright of old songs, T.V. channels.
7. Previous years figures have been re-grouped, re-classified and
re-arranged, wherever considered necessary to conform to current years
presentation.
Mar 31, 2010
1. Information under 4D of Para II, Para 3 and 4 of Part II of
Schedule VI of the Companies Act, 1956 are not applicable to the
company.
2. In accordance with the Accounting Standard 22 on "Accounting for
Taxes on
Income",(AS 22) issued by The Institute of Chartered Accountants of
India, Deferred assets and liabilities are recognized for all timing
differences in accordance with the said standard. Deferred Tax Asset
and Provision for MAT Credit is not recognized as matter of prudence.
3. Directors Remuneration: Salaries Rs. NIL/- (P.Y. Rs. NIL)
4. Balance of Debtors, Creditors, Loan & Advances are subject to
confirmation and/or reconciliation/consequential adjustments, if any.
5. Related Party Disclosure
Key Management Personnel: Gopiram Jariwal - Chairman Anand J
ariwal-Director
6. Previous years figures have been re-grouped, re-classified and
re-arranged, wherever considered necessary to conform to current years
presentation.