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Notes to Accounts of Sowbhagya Media Ltd.

Mar 31, 2015

1. Commitments/ Contingent Liabilities : As at As at S.No Particulars 31.03.2015 31.03.2014

a. Commitments/ Contingent Liabilities Nil Nil

b. Estimated amount of contracts, remaining to be executed on Capital account and not provided for (net of advance) Nil Nil

2. Program / Film rights etc., for broadcasting are intangible assets as defined in Accounting Standard - 26 but considered and shown under current assets as are under for broad casting in ordinary course of business.

3. During the year under review the company is engaged in one segment only i.e., media & entertainment sector. Hence segment reporting as per Accounting Standard - 17 "Segmental Reporting "is not applicable to the company.

4. Related Party Transactions:

A. Names of related parties and description of relationship.

S.No Relationship Name of the Party

1. Holding Company M/s Siri Media Pvt. Limited

2. Key Management Personnel (KMP) Mr. K.Ramakrishna Prasad, Managing Director

5. During the year, the Central Bureau of Investigation (CBI) and directorate of enforcement filed cases against the company and its managing director under the prevention of money laundering Act, 2002 for allotment of 2,45,000 Equity shares of Rs.10/- each on preferential basis in the year 2008-09. Further, directorate of enforcement is in the process of issuing provisional attachment order in respect of some of the assets of the company. The company is co-operating with the above government agencies.

The company is confident that it has not done anything wrong and it would be able to give replies to the allegations to the satisfaction of the government agencies involved. As of now, these cases will have no impact on the financial statements of the company.

6. The additional information required under paragraphs 5(viii) (c) of general instructions for preparation of the statement of profit and loss as per Schedule III to the Companies Act, 2013 is not applicable to the company at present.

7. Balance of debtors, loans and advances and creditors are subject to reconciliation and confirmation.

8. Figures of the previous year have been re-grouped/re-cast wherever necessary to conform to the current year's presentation/classification.

9. Figures are rounded off to the nearest rupee.


Mar 31, 2014

1.1 Commitments/ Contingent Liabilities :

As at As at S.No Particulars 31.03.2014 31.03.2013

a. Commitments/ Contingent Liabilities Nil Nil

b. Claims against the Company not acknowledged as debts in respect of Income Tax Demands for the Assessment Years 2008-09 & 2009-10 Company has appealed against orders raised the demands. (Net of payments made under protest) 26,24,5312 6,24,531

c. Estimated amount of contracts, remaining to be executed on Capital account and not provided for (net of advance) Nil Nil

1.2 Program / Film rights etc., for broadcasting are intangible assets as defined in Accounting Standard – 26 but considered and shown under current assets as are under for broad casting in ordinary course of business.

1.3 During the year under review the company is engaged in one segment only ie., media & entertainment sector. Hence segment reporting as per Accounting Standard – 17 "Segmental Reporting "is not applicable to the company.

1.4 The additional information required under Para 5 of Part II of revised Schedule VI is not applicable to the company at present.

1.5 Balance of debtors, loans and advances and creditors are subject to reconciliation and confirmation.

1.6 Figures of the previous year have been re-grouped/re-cast wherever necessary to conform to the current year''s presentation/classification.

1.7 Figures are rounded off to the nearest rupee.


Mar 31, 2013

1.1 Commitments/ Contingent Liabilities :

As at As at S.No Particulars 31.03.2013 31,03.2012

a. Commitments/ Contingent Liabilities Nil Nil

b. Claims against the Company not acknowledged as debts in respect of Income Tax Demands for the Assessment Years 2008-09 & 2009-10 Company has appealed against orders raised the demands. (Net of payments made under protest) 26,24,531 30,24,531

c. Estimated amount of contracts, remaining to be executed on Capital account and not provided for (net of advance) Nil Nil

1.2 Program / Film rights etc., for broadcasting are intangible assets as defined in Accounting Standard - 26 but considered and shown under current assets as are under for broad casting in ordinary course of business.

1.3 During the year under review the company is engaged in one segment only ie., media & entertainment sector. Hence segment reporting as per Accounting Standard - 17 "Segmental Reporting "is not applicable to the company.

1.4 The additional information required under Para 5 of Part II of revised Schedule VI is not applicable to the company at present.

1.5 Balance of debtors, loans and advances and creditors are subject to reconciliation and confirmation.

1.6 Figures of the previous year have been re-grouped/re-cast wherever necessary to conform to the current year''s presentation/classification.

1.7 Figures are rounded off to the nearest rupee.


Mar 31, 2012

Notes forming part of the financial statements

For the year ended For the year ended

Other Disclosures 31 March, 2012 31 March, 2011

a Contingent liabilities & Commitments Rs. Rs.

(to the extend not provided for) Nil Nil

b Amount of proposed dividend to Equity share holders Nil 5,465,000


Mar 31, 2011

1. Vehicle loans are secured against hypothecation of Vehicles.

2. Program/film rights etc. for broadcasting are intangible assets as defined in AS - 26 but considered and shown under current assets as are used for broadcasting in the ordinary course of business.

3. Balances of Debtors, loans & advances and creditors are subject to reconciliation / confirmation with the respective parties.

4. The Company has no dues to Micro and Small Enterprises during the period ended March 31, 2011, on the basis of information provided by the parties and available on record.

5. Deferred Tax

The accumulated deferred tax liability as on March 31, 2011 has been recognized with a corresponding charge to the Profit and Loss account.

The accumulated Deferred Tax liability on Written down value of assets as of March 31, 2011 is Rs. 43,12,014/-

6. Segment Reporting:

During the period under review the company is engaged in one segment only i.e. Media & Entertainment sector. Hence segment reporting as per Accounting Standard is not applicable for the Period.

7. Related party disclosure under Accounting Standard (AS: 18)

Name of the Concern M/s.Siri Media Private Limited

Nature of Transaction Distribution of Films

Distribution advance received from M/s Siri Media Private Limited Rs.5,79,64,522/-

Name of the Concern M/s. DGA Telefilms

Nature of Transaction Serial making contract

Amount payable as on Rs. 13,55,978/- 31-03-11 :

Sitting fee paid to the Directors Rs. 16,000/-

8. Managerial Remuneration paid or payable during the Period- Rs. 7,35,589/-

9. Foreign Exchange earnings and outgo- NIL

10. CIF Value of Imports : NIL

11. Pending capital commitments as on 31st March2011 -NIL

12. Contingent Liabilities : NIL

13. Previous year figures have been regrouped/ re-arranged wherever necessary.

14. Paisa has been rounded off to nearest rupee.

 
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