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Notes to Accounts of Radaan Mediaworks (I) Ltd.

Mar 31, 2015

1. Subsidiary Company in Singapore

Company had incorporated a wholly owned subsidiary company - Radaan Media Ventures Pte Limited in Singapore to engage in media & entertainment activities. During the year, company had not entered into any business transaction. As on 31-03-2015, reimbursement due payable by subsidiary was Rs.12,63,889. Pursuant to provisions of section 129(3) of the Companies Act, a statement containing salient features of the financial statements of the subsidiary company as required in the prescribed form AOC-1 is provided here below:

2.Investments:

During the year 2010 -11, Company had entered into a share subscription agreement with Celebrity Cricket League Private Limited ('CCL') and had invested Rs.75 Lacs consists of 7,50,000 equity shares of Rs.10/- each and the same is shown at cost under the 'Non Current Investment'.

3.The Company had entered into leasehold agreements with Mrs.R.Radikaa Sarathkumar, Managing Director for acquiring leasehold rights for a period of 20 years in respect of properties at No.8 & 10, Paul Appasamy Street, Chennai -17.

4. The consideration for lease deposit was Rs. 200 Lakhs out of which a sum of Rs. 75 Lakhs was discharged by way of allotment of 7,50,000 equity shares of Rs. 10/- each as fully paid (since sub-divided) and out of the remaining deposit the sum of Rs.125 lacs was discharged in the form of cash. The registration formalities in respect of lease agreements are yet to be completed.

5. As per Accounting Standard 19 - Leases, issued by Institute of Chartered Accountants of India, the Operating Lease entered into by the Company is given below:

6. The total of future minimum lease payments under non-cancellable operating leases for each of the following periods;

(i) Not later than one year - Rs.18,00,000

(ii) Later than one year and not later than five years - Rs.72,00,000

(iii) Later than five years - Rs.6,00,000 (upto July 2020)

7. The total of future minimum sublease payments expected to be received under non-cancellable subleases at the balance sheet date - NIL

8. Lease payments recognized in the statement of profit and loss for the period, with separate amounts for minimum lease payments and contingent rents - Rs. 18,00,000/-

9. Sub-lease payments received (or receivable) recognized in the statement of profit and loss for the period - NIL

10. A general description of the lessee's significant leasing arrangements including, but not limited to, the following:

(i) The basis on which contingent rent payments are determined - NIL

(ii) The existence and terms of renewal or purchase options and escalation clauses

* Lease for period of 20 years renewable on the basis of completion of 11 months.

(iii) Restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing -

(a) Improvement to be made with the written consent of the Lessor,

(b) In case of vacation by lessee on its own before the expiry of the lease period, the cost of improvement made to leasehold property to be borne by the lessee.

(c) In the case of vacation at instance of the lessor before the expiry of the lease period, the written down value as on date of vacation to be borne by the lessor.

11. The company formed a trust named 'Radaan Mediaworks India Limited Employees Group Gratuity Assurance Scheme' with intent to enter into an approved scheme of group gratuity with Life Insurance Corporation of India and to administer for the benefit of the employees. The gratuity report provided by LIC of India as at 31st March 2015 under AS-15 in respect of gratuity of employees of the Company is given below:

12. Leave Encashment:

Company has taken an insurance policy with LIC of India for Group Leave Encashment Assurance Scheme for the benefit of employees. The report provided by LIC of India as at 31st March 2015 under AS 15 in respect of Group Leave Encashment of employees of the Company is given below:

13. The cost of episodes of tele-serial(s) / tele-film(s) / feature film(s) in progress or completed and pending telecast / release as on date of Balance Sheet has been considered as Work-in-progress and calculated based on absorption method and the same is valued at cost or market price, whichever is less.

14. As per accounting policy d., the value of unsold FCT accumulated and held for more than 12 months has been classified under 2.12 Non Current Assets. As per accounting policy n. Company has so far written off a sum of Rs.1,76,19,701 which includes write offof Rs.28,32,800 for the F.Y.2014 - 15 held under Non Current Assets.

15. As per accounting policy m.Accounting for media receivables, the company has written off a sum of Rs.1,00,34,234 for the financial year 2014-15 for which provision had already been made in earlier periods. This however, has not affected the financial results for the current year.

16. Related Parties Disclosure:

As per the Accounting Standard 18 - Related Party Disclosures issued by the Institute of Chartered Accountants of India, the Company's related parties and transactions are listed below: a. Partv(ies) having control:

17. Segment Reporting

The company operates in the area of producing content for tele-serials, events, game shows, etc., apart from producing films, undertaking distribution activities, theatrical plays and setting up of training course comprise of acting, dance, martial arts, yoga etc., Management believes that it is not practical to provide segment disclosures relating to those costs and expenses as operational activities are intertwined and therefore, it has been decided by the management to report its functional operations under one segment - 'Media & Entertainment' with effect from April 1, 2011 and continue to report accordingly.

18. There are no dues to small and micro enterprises during the year ended March 2015 & March 2014.

19. Contingent Liabilities:

SI. Particulars 31.03.2015 31.03.2014 No (in Rs.1) (in Rs.1)

Claims against the company not acknowledged as debts Service Tax

1 * October 2004 to September 2007 (inclusive of penalty of Rs.10 crore) 19,30,27,340 19,30,27,340

* October 2007 to September 2010 (excluding penalty) 4,68,55,299 4,68,55,299

* October 2010 to September2012 (including ofpenaltyofRs.10 lacs) 3,60,84,169 3,60,84,169

20. Sales Tax

April 2001 to March 2006 (including of penalty of Rs.29,04,10,859) 48,40,18,098 48,40,18,098

21. Service Tax:

Service tax demand was contested before CESTAT, Chennai and a stay was granted without any pre-deposit condition for the period October 2004 to September 2010. In respect of service tax demand of similar nature for the period October 2010 to September 2012, an appeal has been filed before CESTAT.

22. Sales Tax:

Hon'ble High Court of Madras granted interim stay order against sales tax demand for the period 2001 - 02 to 2004 - 05 and partially for the year 2005 - 06 as prayed by the Company. Company has filed an appeal before Appellate Deputy Commissioner (CT) III, Chennai for the part of the disputed demand for the year 2005 - 06 amounting to Rs.2,28,60,665/- not covered under the stay order of Hon'ble High Court and as a condition have deposited a sum of Rs.50,10,401/-and also furnished personal bond by Chairperson & Managing Director for Rs. 1,78,50,265/- for stay of collection of tax.

Hon'ble High Court of Madras has made interim stay granted earlier as absolute stay; vide order dated 19-11-2014.

In the above referred cases, Management firmly believes that its stand is likely to be upheld in the appellate process.

23. Licensed and Installed capacity - Not Applicable

24. Tax Expense:

* Minimum Alternate Tax (MAT) has been provided during the year on the resultant 'Book Profit' of the company.

* No provision is required for income tax on account of carried forward losses from the earlier years and hence not provided for.

25. Figures of Previous year have been re-grouped and re-classified, wherever necessary to conform to those of the current year.

26. Figures have been rounded off to the nearest rupee.


Mar 31, 2014

1 Subsidiary Company in Singapore

Company had incorporated a wholly owned subsidiary company - Radaan Media Ventures Pte Limited in Singapore to engage in media & entertainment activities. During the year, Company has invested Sing $ 20,000 including 1 Sing $ subscribed at the time of incorporation. Company had also extended interest tree loan of Sing $ 90,000 and received the same during the year. As on 31-03-2014, reimbursement due payable by subsidiary was Sing $ 21,218. Other details are provided separately along with consolidated information.

2 Investments in CCL

During the year 2010 - 11, Company had entered into a share subscription agreement with Celebrity Cricket League Private Limited (''CCL'') and had invested Rs.75 Lacs consists of 7,50,000 equity shares of Rs.10/- each and the same is shown at cost under the Non current Investment.

3 The Company had entered into leasehold agreements with Managing Director tor acquiring leasehold rights tor a period of 20 years in respect of properties at No.8 & 10, Paul Appasamy Street, Chennai - 17.

The consideration tor lease deposit was Rs. 200 Lakhs out of which a sum of Rs. 75 Lakhs was discharged by way of allotment of 7,50,000 equity shares of Rs. 10/- each as fully paid and out of the remaining deposit the sum of Rs.125 lacs was discharged in the form of cash. The registration formalities in respect of lease agreements are yet to be completed.

As per Accounting Standard 19 - Leases, issued by Institute of Chartered Accountants of India, the Operating Lease entered into by the Company is given below:

a. The total of future minimum lease payments under non-cancellable operating leases tor each of the following periods;

(i) Not later than one year - Rs.18,00,000

(ii) Later than one year and not later than five years - Rs.72,00,000

(iii) Later than five years - Rs.24,00,000 (upto july 2020)

b. The total of future minimum sublease payments expected to be received under non-cancellable subleases at the balance sheet date - NIL

c. Lease payments recognized in the statement of profit and loss tor the period, with separate amounts tor minimum lease payments and contingent rents - Rs. 18,00,000/-

d. Sub-lease payments received (or receivable) recognized in the statement of profit and loss for the period - NIL

e. A general description of the lessee''s significant leasing arrangements including, but not limited to, the following:

(i) The basis on which contingent rent payments are determined - NIL

(ii) The existence and terms of renewal or purchase options and escalation clauses

- Lease tor period of 20 years renewable on the basis of completion of 11 months.

(iii) Restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing -

(a) Improvement to be made with the written consent of the Lessor,

(b) In case of vacation by lessee on its own before the expiry of the lease period, the cost of improvement made to leasehold property to be borne by the lessee.

(c) In the case of vacation at instance of the lessor before the expiry of the lease period, the written down value as on date of vacation to be borne by the lessor.

4 The company formed a trust named ''Radaan Mediaworks India Limited Employees Group Gratuity Assurance Scheme'' with intent to enter into an approved scheme of group gratuity with Lite Insurance Corporation of India and to administer tor the benefit of the employees. The gratuity report provided by LIC of India as at 31st March 2014 under AS-15 in respect of gratuity of employees of the Company is given below:

1. Assumption:

Discount Rate - 8%

Salary Escalation - 6%

5. The cost of episodes of tele-serial(s) / tele-film(s) / feature film(s) in progress or completed and pending telecast / release as on date of Balance Sheet has been considered as work-in-progress and calculated based on absorption method and the same is valued at cost or market price, whichever is less.

6. a. As per accounting policy d., the value of unsold FCT accumulated and held tor more than 12 months has been classified under 2.12 Non Current Assets. As per accounting policy n. Company has so tar written off a sum of Rs.1,47,86,901/- which includes write off of Rs.26,27,894/- for the F.Y.2013 - 14 held under Non Current Assets.

b. As per accounting policy m. Accounting tor media receivables, the company has written off a sum of Rs.1,00,34,234 for financial year 2013-14. This however, has not affected the financial results tor the current period.

7. Segment Reporting

The company operates in the area of producing content tor tele-serials, events, game shows, etc., apart from producing films, undertaking distribution activities, theatrical plays and setting up of training course comprise of acting, dance, martial arts, yoga etc., Management believes that it is not practical to provide segment disclosures relating to those costs and expenses as operational activities are intertwined. Therefore, it has been decided by the management to report its functional operations under one segment - ''media & entertainment'' with effect from April 1, 2011 and continue to report accordingly.

8. There are no dues to small and micro enterprises during the year ended March 2013 & March 2014.

9. Contingent Liabilities:

Particulars 31.03.2014 31.03.2013 (in Rs.) (in Rs.)

Claims against the company not acknowledged as debts

Service Tax

- October 2004 to September 2007 19,30,27,340 19,30,27,340 (inclusive of penalty of Rs.10 crore)

- October 2007 to September 2010 4,68,55,299 4,68,55,299 (excluding penalty)

- October 2010 to September 2012 3,60,84,169 --- (including of penalty of Rs.10 lacs)

Sales Tax

- April 2001 to March 2006 48,40,18,098 48,40,18,098 (including of penalty of Rs.29,04,10,859)

Service Tax:

Service tax demand was contested before CESTAT, Chennai and a stay was granted without any pre-deposit condition for the period October 2004 to September 2010. In respect of service tax demand of similar nature for the period October 2010 to September 2012, an appeal will be filed before CESTAT.

Sales Tax:

Hon''ble High Court of Madras granted interim stay order against sales tax demand for the period 2001 - 02 to 2004 - 05 and partially for the year 2005 - 06 as prayed by the Company. Company has filed an appeal before Appellate Deputy Commissioner (CT) III, Chennai for the part of the disputed demand for the year 2005 - 06 amounting to Rs.2,28,60,665/-not covered under the stay order of Hon''ble High Court and as a condition have deposited a sum of Rs.50,10,401/-and also furnished personal bond by Chairperson & Managing Director for Rs. 1,78,50,265/- for stay of collection of tax.

In the above referred cases, Management firmly believes that its stand is likely to be upheld in the appellate process.

10 Figures of Previous year have been re-grouped and re-classified, wherever necessary to conform to those of the current year.

11 Figures have been rounded off to the nearest rupee.


Mar 31, 2013

1.1. investments:

During the year 2010 – 11, Company had entered into a share subscription agreement with Celebrity Cricket League Private Limited (''CCL'') and had invested Rs.75 Lacs accordingly. Subsequently, franchisees have also invested based on share subscription agreement entered with CCL and its shareholders. On account of the said investment by franchisees in CCL, Companies'' shareholding stood at 16.67% as at 31st March 2013.

1.2. subsidiary company in Singapore:

During the year, Company has incorporated a wholly owned subsidiary company – Radaan Media Ventures Pte Limited in Singapore to engage in media & entertainment activities. However, company has not remitted the share subscription of 1 Sing Dollar, which will be remitted along with other investment requirements at the time of commencement of its commercial operations and hence, fnancial statements are not consolidated.

1.3. The Company had entered into leasehold agreements with Managing Director for acquiring leasehold rights for a period of 20 years in respect of properties at No.8 & 10, Paul Appasamy Street, Chennai - 17.

The consideration for lease deposit was Rs. 200 Lakhs out of which a sum of Rs. 75 Lakhs was discharged by way of allotment of 7,50,000 equity shares of Rs. 10/- each as fully paid and out of the remaining deposit the sum of Rs.125 lacs was discharged in the form of cash. The registration formalities in respect of lease agreements are yet to be completed.

As per Accounting Standard 19 - Leases, issued by Institute of Chartered Accountants of India, the Operating Lease entered into by the Company is given below:

a. The total of future minimum lease payments under non-cancellable operating leases for each of the following periods;

(i) Not later than one year – Rs.18,00,000

(ii) Later than one year and not later than five years – Rs.72,00,000

(iii) Later than fve years – Rs.42,00,000 (up to July 2020)

b. The total of future minimum sublease payments expected to be received under non-cancellable subleases at the balance sheet date – NIL

c. Lease payments recognized in the statement of profit and loss for the period, with separate amounts for minimum lease payments and contingent rents – Rs. 18,00,000/- d. Sub-lease payments received (or receivable) recognized in the statement of profit and loss for the period – NIL

e. A general description of the lessee''s significant leasing arrangements including, but not limited to, the following:

(i) The basis on which contingent rent payments are determined – NIL

(ii) The existence and terms of renewal or purchase options and escalation clauses – Lease for period of 20 years renewable on the basis of completion of 11 months.

(iii) Restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing –

(a) Improvement to be made with the written consent of the Lesser,

(b) In case of vacation by lessee on its own before the expiry of the lease period, the cost of improvement made to leasehold property to be borne by the lessee.

(c) In the case of vacation at instance of the lesser before the expiry of the lease period, the written down value as on date of vacation to be borne by the lesser.

1.4 The company formed a trust named ''Radaan Mediaworks India Limited Employees Group Gratuity Assurance Scheme'' with intent to enter into an approved scheme of group gratuity with Life Insurance Corporation of India and to administer for the benefit of the employees. The gratuity report provided by LIC of India as at 31st March 2013 under AS-15 in respect of gratuity of employees of the Company is given below:

1.5 Leave encashment:

Company has taken an insurance policy with LIC of India for Group Leave Encashment Assurance Scheme for the benefit of employees. The report provided by LIC of India as at 31st March 2013 under AS 15 in respect of Group Leave Encashment of employees of the Company is given below:

1.6. The cost of episodes of tele-serial(s) / tele- film(s) / feature flm(s) in progress or completed and pending telecast / release as on date of Balance Sheet has been considered as Work-in-progress and calculated based on absorption method and the same is valued at cost or market price, whichever is less.

1.7. As per accounting policy d., the value of unsold FCT of Rs.76,97,657 for the current fnancial year is stated under 2.13 ''Inventories'' and the value of unsold FCT accumulated and held for more than 12 months has been classified under 2.12 Non Current Assets. As per accounting policy n. Company has so far written off a sum of Rs.1,21,59,007 which includes write off of Rs.29,28,916 for the F.Y.2012 – 13 held under Non Current Assets.

1.8. segment reporting

The company operates in the area of producing content for tele-serials, events, game shows, etc., apart from producing flms, undertaking distribution activities, theatrical plays and setting up of training course comprise of acting, dance, martial arts, yoga etc., Management believes that it is not practical to provide segment disclosures relating to those costs and expenses as operational activities are intertwined and therefore, it has been decided by the management to report its functional operations under one segment - ''media & entertainment'' with effect from April 1, 2011 and continue to report accordingly.

1.9. There are no dues to small and micro enterprises during the year ended March 2013 & March 2012.

1.10 . contingent Liabilities:

Sl. 31.03.2013 31.03.2012 Particulars No. (in Rs.) (in Rs.)

1 Claims against the company not acknowledged as debts service tax

October 2004 to September 2007 19,30,27,340 19,30,27,340

- (inclusive of penalty of Rs.10 crore)

- October 2007 to September 2010 (excluding penalty) 4,68,55,299 4,68,55,299

sales tax

- April 2001 to March 2006 (including of penalty of 48,40,18,098 48,40,18,098 Rs.29,04,10,859)

service tax:

Service tax demand was contested before CESTAT, Chennai and a stay was granted without any pre-deposit condition for the period October 2004 to September 2007. In respect of service tax demand of similar nature for the period October 2007 to September 2010, an appeal has been fled and pending before CESTAT.

sales tax:

Hon''ble High Court of Madras granted interim stay order against sales tax demand for the period 2001 – 02 to 2004 – 05 and partially for the year 2005 – 06 as prayed by the Company. Company has filed an appeal before Appellate Deputy Commissioner (CT) III, Chennai for the part of the disputed demand for the year 2005 – 06 amounting to Rs.2,28,60,665/- not covered under the stay order of Hon''ble High Court and as a condition have deposited a sum of Rs.50,10,401/-and also furnished personal bond by Chairperson & Managing Director for Rs. 1,78,50,265/- for stay of collection of tax.

1.11. Figures of Previous year have been re-grouped and re-classified, wherever necessary to conform to those of the current year.

1.12 Figures have been rounded off to the nearest rupee.


Mar 31, 2012

1.1 INVESTMENTS:

a. During the year 2010 - 11, Company had entered into a share subscription agreement for investing Rs. 75 Lacs in Celebrity Cricket League Private Limited ('CCL'). Accordingly, company has invested the balance of Rs. 25 lacs during the current year.

b. During the year, Company transferred its entire shareholding of 429,757 equity shares held in Radaan Talent Factory Private Limited, Sri Lanka, for a consideration of INR 34,08,575/- (SriLankan Rupee 80,00,000/-) and the entire consideration has been repatriated to India resulting in profit on sale of shares of INR 14,49,392.

1.2 The Company had entered into leasehold agreements with Managing Director for acquiring leasehold rights for a period of 20 years in respect of properties at No.8 & 10, Paul Appasamy Street, Chennai - 17.

The consideration for lease deposit was Rs. 200 Lakhs out of which a sum of Rs. 75 Lakhs was discharged by way of allotment of 7,50,000 equity shares of Rs. 10/- each as fully paid and out of the remaining deposit the sum of Rs. 125 lacs was discharged in the form of cash. The registration formalities in respect of lease agreements are yet to be completed.

As per Accounting Standard 19 - Leases, issued by Institute of Chartered Accountants of India, the Operating Lease entered into by the Company is given below:

a. The total of future minimum lease payments under non-cancellable operating leases for each of the following periods;

(i) Not later than one year - Rs. 18,00,000

(ii) Later than one year and not later than five years - Rs. 72,00,000

(iii) Later than five years - Rs. 60,00,000 (upto July 2020)

b. The total of future minimum sublease payments expected to be received under non-cancellable subleases at the balance sheet date - NIL

c. Lease payments recognized in the statement of profit and loss for the period, with separate amounts for minimum lease payments and contingent rents - Rs. 18,00,000/-

d. Sub-lease payments received (or receivable) recognized in the statement of profit and loss for the period - NIL

e. A general description of the lessee's significant leasing arrangements including, but not limited to, the following:

(i) The basis on which contingent rent payments are determined - NIL

(ii) The existence and terms of renewal or purchase options and escalation clauses

- Lease for period of 20 years renewable on the basis of completion of 11 months.

(iii) Restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing -

(a) Improvement to be made with the written consent of the Lessor,

(b) In case of vacation by lessee on its own before the expiry of the lease period, the cost of improvement made to leasehold property to be borne by the lessee.

(c) In the case of vacation at instance of the lessor before the expiry of the lease period, the written down value as on date of vacation to be borne by the lessor.

1.3 The cost of episodes of tele-serial(s)/tele-film(s)/feature film(s) in progress or completed and pending telecast/release as on date of Balance Sheet has been considered as Work-in- progress and calculated based on absorption method and the same is valued at cost or market price, whichever is less.

1.4 As per accounting policy n. provisioning for unsold FCTs, the company has provided a sum of Rs. 92,30,091 which includes provision Rs. 34,35,991 for the F.Y.2011 - 12 towards unsold FCT's held.

1.5 Segment reporting

The company operates in the area of producing content for tele-serials, events, game shows, etc., apart from producing films, undertaking distribution activities, theatrical plays and setting up of acting academy. Management believes that it is not practical to provide segment disclosures relating to those costs and expenses as operational activities are intertwined and therefore, it has been decided by the management to report its functional operations under one segment - 'media & entertainment'- with effect from April 1, 2011.

1.6 There are no dues to small and micro enterprises during the year ended March 2012 & March 2011.

1.7 contingent Liabilities:

Sl. Particulars 31.03.2012 31.03.2011 No. (in Rs.) (in Rs.)

1. Claims against the company not acknowledged as debts Service Tax

- October 2004 to September 2007 (inclusive of penalty of Rs. 10 crore) 19,30,27,340 19,30,27,340

- October 2007 to September 2010 (excluding penalty) 4,68,55,299 -

Sales Tax

- April 2001 to March 2006 (including of penalty of Rs. 29,04,10,859) 48,40,18,098 -

Service tax:

Service tax demand was contested before CESTAT, Chennai and a stay was granted without any pre-deposit condition for the period October 2004 to September 2007. In respect of service tax demand of similar nature for the period October 2007 to September 2010, an appeal has been fled and pending before CESTAT.

Sales tax:

Hon'ble High Court of Madras granted interim stay order against sales tax demand for the period 2001 - 02 to 2004 - 05 and partially for the year 2005 - 06 as prayed by the Company. Company has fled an appeal before Appellate Deputy Commissioner (CT) III, Chennai for the part of the disputed demand for the year 2005 - 06 amounting to Rs. 2,28,60,665/- not covered under the stay order of Hon'ble High Court and as a condition have deposited a sum of Rs. 50,10,401/-and also furnished personal bond by Chairperson & Managing Director for Rs. 1,78,50,265/- for stay of collection of tax.

1.8 The Confirmation of Balances of Debtors & Creditors is yet to be received in some cases.

1.9 Figures of Previous year have been re-grouped and re-classified, wherever necessary to conform to those of the current year.

1.10 Figures have been rounded off to the nearest rupee.


Mar 31, 2011

1. The Company had entered into leasehold agreements with Managing Director for acquiring leasehold rights for a period of 20 years in respect of properties at No.8 & 10, Paul Appasamy Street, Chennai -17.

The consideration for lease deposit was Rs. 200 Lakhs out of which a sum of Rs. 75 Lakhs was discharged by way of allotment of 7,50,000 equity shares of Rs. 10/- each as fully paid and out of the remaining deposit the sum of Rs.117.50 lacs was discharged in the form of cash and the balance of Rs.7.50 lacs is still remains unpaid. The registration formalities in respect of lease agreements are yet to be completed.

As per Accounting Standard 19 - Leases, issued by Institute of Chartered Accountants of India, the operating lease entered into by the Company is given below:

a) The total of future minimum lease payments under non-cancellable operating leases for each of the following periods;

(i)) Not later than one year- Rs. 18,00,000

(ii)) Later than one year and not later than five years - Rs.72,00,000

(iii) Later than five years - Rs.78,00,000 (upto July 2020)

b) The total of future minimum sub-lease payments expected to be received under non-cancellable sub-leases at the balance sheet date - NIL

c) Lease payments recognized in the statement of profit and loss for the period, with separate amounts for minimum lease payments and contingent rents - Rs. 18,00,000/-

d) Sub-lease payments received (or receivable) recognized in the statement of profit and loss for the period - NIL

e) A general description of the lessee's significant leasing arrangements including, but not limited to, the following:

(i)) The basis on which contingent rent payments are determined - NIL

(ii)) The existence and terms of renewal or purchase options and escalation clauses

- Lease for period of 20 years renewable on the basis of completion of 11 months.

(iii) Restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing -

(a) Improvement to be made with the written consent of the Lessor,

(b) In case of vacation by lessee on its own before the expiry of the lease period, the cost of improvement made to leasehold property to be borne by the lessee.

(c) In the case of vacation at instance of the lessor before the expiry of the lease period, the written down value as on date of vacation to be borne by the lessor.

2. The cost of episodes of tele-serial(s) / tele-fiim(s) / feature film(s), those are in progress or completed and pending telecast / release as on date of Balance Sheet has been considered as Work-in-progress and calculated based on absorption method and the same is valued at cost or market price, whichever is less.

3. There are no dues to small-scale industries.

4. Managerial Remuneration:

The overall managerial remuneration is within maximum ceiling limit laid down pursuant to section 198,269,309 & 310 read with schedule XIII, Part II, Section II of the Companies Act, 1956.

5. As a consequence of introduction of accounting policy n.- provisioning for unsold FCTs, the company has provided a sum of Rs.30.32 lacs for FY 2010-11 for current year towards unsold FCTs held.

6. Investments:

During the year, Company had entered into a share subscription agreement for investing Rs.75 Lacs in Celebrity Cricket League Private Limited, India towards 25% ownership interest therein. As on 31.03.2011, company has invested a sum of Rs.50 lacs.

Company continue to report investment made in Joint Venture - Radaan Talent Factory Private Limited, Sri Lanka in accordance with AS - 13 - Accounting for investments as significant influence and joint control do not exist during the financial year.

7. Segment Reporting

The Company operates in two Business Segments:

- Production of Tele-serial/Game show and

- Production of Feature Films

8. Related Parties Disclosure:

As per the Accounting Standard 18 - Related Party Disclosures issued by the Institute of Chartered Accountants of India, the Company's related parties and transactions are listed below:

9. The company formed a trust named 'Radaan Mediaworks India Limited Employees Group Gratuity Assurance Scheme' with intent to enter into an approved scheme of group gratuity with Life Insurance Corporation of India and to administer for the benefit of the employees as against provisioning the liability as per Actuarial Valuation report during earlier years. The gratuity report provided by LIC of India as at 31 st March 2011 under AS-15 in respect of gratuity of employees of the Company is given below:

15. Licensed and Installed capacity - Not Applicable

31.03.2011 31.03.2010

16. Earnings in Foreign Currency - United States $ 2,84,764 United States $1,08,323 Equivalent to Equivalent to Rs. 1,29,97,570 Rs.51,10,379

Expenditure in Foreign Currency - United States $ 57,787 United States $ 400

Malaysian Ringgits 8,000 Malaysian Ringgits 2,000

Equivalent to Equivalent to

Rs.26,95,804 Rs.46,210

17. The Confirmation of Balances of Debtors & Creditors is yet to be received in some cases.

18. Figures of Previous year have been re-grouped and re-classified, wherever necessary to conform to those of the current year.

19. Figures have been rounded off to the nearest rupee.

 
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