Mar 31, 2015
1 CORPORATE INFORMATION :
Trilogic Digital Media Limited (formerly knows as Rabha Plastics Limited) operates mainly in the field of Media And Entertainment
2 Contingent Liabilities
There are no contingent liabilities as on the 31st M arch 2015 which has any material effect on the presentation of financial statement.
3 Change in accounting policy
Effective 31st March, 2015, the Company has with retrospective effect changed its method of providing depreciation on fixed assets from the 'Straight Line' method to the 'Written Down Value' method, at the rates prescribed in Schedule XIV to the Companies Act, 1956. Management believes that this change will result in more appropriate presentation and will give a systematic basis of depreciation charge, representative of the time pattern in which the economic benefits will be derived from the use of these assets. Accordingly, the Company has recognized an additional depreciation charge of Rs 1823935 to provide the retrospective effect for the change in accounting policy.
4 Issue of Bonus Share
Pursuant to the provisions of Section 110 and applicable provisions, if any of the companies Act, 2013 read with the Companies (Management and Administration) Rules ,2014 (the Rules) and Clause 35B of the Listing Agreement ,Shareholders have passed Special resolutions through Postal ballot and E-voting approving the issue of Bonus Share in the ratio 1:1 and alteration of Capital Clause in Memorandum and Article of Association of the company
5 Related Party Transaction
Related Party Disclosure as required by Accounting Standard (As) - 18 "Related Party Disclosures" Issued by The Institute of Chartered Accountants of India:
The Entertainment Hub (Partnership Firm)
b. Key Managerial Person (KMP)
Mr. Vishal Shyam Gurnani Managing Director
Mrs.Shivani Jaising Director
Enterprise over which KMP
c. has significant influence
Snip Marketing Private Limited Infinite Media Holdings Sphere Entertainment Private Limited
6 Segment Reporting
The Company operates in only one segment, namely "Media & Entertainment" hence there are no reportable segments under Accounting Standard 17 'Segment Reporting'.
7 Micro and small enterprises as defined under the MSMED Act, 2006
There are no Micro and Small Scale Business Enterprises, to whom the Company owes dues, which are outstanding for more than 45 days as at March 31, 2015. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company.
8 Inventories represents movies in the process of production in the ordinary course of business.
9 The company does not make provisions for the Retirement benefits.
10 The company does not have a whole time Company Secretary u/s 2 03 of Company Act 2013
11 In the opinion of the management, the Current Assets, Loans and Advances and Current Liabilities are approximately of the value stated, if realised / paid in the ordinary course of business. The provision for all known liabilities is adequate and is not in excess of amounts considered reasonably necessary.
12 Balances grouped under Non Current and Current Liabilities and Non Current and Current Assets in certain cases are subject to confirmation and reconciliation from respective parties.
13 Previous year figures have been regrouped and re -arranged where ever necessary.
Mar 31, 2014
Rights, preferences and restrictions attaching to each class of shares (including restriction on dividend & repayment of capital)
The Company has only one class of shares referred to as equity shares having a par value of Rs.10/-. Each holder of Equity shares is entitled to one vote per share. All equity Shares of the Company rank pari passu in all respect including the right to divided.
In the event of liquidation, the equity shareholders are eligible to received the remaining assets of the company after distribution of all preferential amounts, in proportion to their shareholding.
Shares held by its holding company or subsidiary of holding company
There is no Holding Company or its Ultimate Holding Company or Subsidiaries or Associates of the Holding Company.
Claims against the Company not acknowledged as debts amounting to Rs. 2016.67 Lacs.
The claim has been filed by Ms. Sa Re Ga Ma India Limited in realtion to a contract dated 31st December ''13, for providing of licensed work for exploitation by The Company. Management is confident that no outflow towards the same will occur in future.
a. Subsidiary The Entertainement Hub (Partnership Firm)
b. Person (KMP) Mr. Kamlesh Mohanlal Bhanushali Managing Director Mr. Harish Kamalakar Patil Director
Enterprise over which KMP has
c. significant influence Snip Marketing Private Limited Infinite Media Holdings
Sphere Entertainment Private Limited
Note 2.24 Segment Reporting
The Company operates in only one segment, namely "Media & Entertainment" hence there are no reportable segments under Accounting Standard 17 ''Segment Reporting''.
Micro and small enterprises as defined Note 2.25 under the MSMED Act, 2006
There are no Micro and Small Scale Business Enterprises, to whom the Company owes dues, which are outstanding for more than 45 days as at March 31, 2014. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company.
Inventories represents movies in the process of production in the ordinary Note 2.26 course of business.
Note 2.29 Additional information pursuant to the provisions Nil Nil of paragraph 5(VIII) of Schedule VI of The Companies Act, 1956.
The company does not have a whole time Company Note 2.30 Secretary u/s 383 A of the Company Act, 1956.
Note 2.31 During the year, the company has issued 13,27,500 Equity Shares of Rs. 10 each at a premium of Rs. 31 each on preferential basis as per the SEBI guidelines. The money received on allotment of these shares has been utilized for the business purposes of the Company.
Note 2.32 In the opinion of the management, the Current Assets, Loans and Advances and Current Liabilities are approximately of the value stated, if realised / paid in the ordinary course of business. The provision for all known liabilities is adequate and is not in excess of amounts considered reasonably necessary.
Note 2.33 Balances grouped under Non Current and Current Liabilities and Non Current and Current Assets in certain cases are subject to confirmation and reconciliation from respective parties. Impact of the same, if any, shall be accounted as and when determined.
Note 2.34 Previous year figures have been regrouped and re-arranged where ever necessary.
Mar 31, 2010
1. CONTINGENT LIABILITIES (Not provided for in respect of)
(a) The employees of company had filed appeal in civil court against company for payment of overtime wages of earlier years. The company had received a notice of the court amounting RS.3224605/- plus interest in financial year 2003-2004. This case was pending as on 31.3.2010 but was settled as on 07.04.2010 and now there is no pending claim against the company.
(b) The company has received a notice from sales tax department for recovery of Incentive benefit granted vide Sales Tax Incentive scheme of 1987 for RS. 115.83 lacs due to non Maintenance of average production for next five years after end of incentive Period. The company has filed an application for waiver of that "average Production condition" with the Honb I Commissioners, commercial taxes Department and decision is pending before him.
2. The company has accumulated losses of Rs. 554.69 lacs at the end of the year which is 99.46% of the paid up share capital. Further, there is no production/sales took place in current year and the production activities of the company are closed since October 2004 except disposing off some old assets. Now in the year under audit, company has taken some initiative to revive the company and taken two new Professionally qualified directors in the month of October 2009 in order to diversify the operation of the company in the field of Media and advertising business. The result of new initiative is that company has started some new deals in the media lines which was due to be mature as on balance sheet date. Hence till last year the company was not a going concern but now in the year it is quite hopeful to get the company back in operation in the time to come.
3. All the Sundry Debtors and Creditors are taken at their respective book value instead of Net Realisable / Net payable Value as in our opinion; most of them are not realizable/payable. All these accounts are subject to reconciliation & confirmation. During the year, company has written off some old balances of sundry debtors.
4. No provision for Taxation has been made in view of current loss and losses carried forward from last years.
5. Due to uncertainty of availability of any future profits Deferred Tax Assets has not been recognized for carried forward business losses and unabsorbed depreciation of company in accordance with Accounting Standard 22, issued by ICAI.
6. No provision for Gratuity, Leave Encashment and Bonus has been made due to no employee exist with the company.
7. No provision has been made in respect of outstanding balance of Debtors which are outstanding for more than 3 years and Loans and Advances which are doubtful of recovery (figures unascertained), since the management of the Company is assured to recover the same by making rigorous efforts.
8. The company has not entered into any material transaction with related parties; hence no disclosure is recuired as per Accounting Standard-18 issued by ICAI.
Related parties/ Key management personal:
Mr. Surendra Bhatia
Mr. Bharat V. Gada
Mr. Virchand V. Gada
Business Transaction with the related parties are NIL
9. Balances of Sundry Debtors, Sundry Creditors, Loan and Advances are subject to confirmation and - reconciliation by the respective parties. Necessary adjustment in the accounts will be made in the year in which final settlement will be made.
10. In the opinion of the Board Of Directors save as otherwise stated, the current assets & loan and advances have been stated at value realizable in the ordinary course of business and adequate provision has been made in the account for all known and determined liabilities.
11. The company was engaged in manufacturing of plastic items having same nature of risk & return and accordingly the company has only one business segment, i.e. plastic.
12. Manufacturing segment. Further the company operates only in domestic market. Hence there is no geographical segment. There for no disclosure is required as per AS-17, issued by ICAI.
13. (i) The company has sold certain assets, sale value of the same has been deducted from the gross value of the plant & machine block.
(ii) Balance outstanding for BOB, Mumbai is subject to reconciliation.
14. Company has not made any provision for accrued income on NSC of Rs. 3000/- & IVP of Rs. 2000/- since the date of purchases.
15. Previous years figures have been regrouped/ rearranged wherever considered necessary.
16. MANAGERIAL REMUNERATION:
a. Within the limit specified by schedule XIII of Companies Act, 1956 and as per approved by the Shareholders in General Meeting. Computation of net profit u/s 349 of the companies Act is not given in view of, no commission is payable to any Director.
In view of the losses incurred by the Company, no managerial remuneration has been paid by the Company to any of its directors in any form what so ever.
17. None of the companys suppliers has intimated of their being a small scale industrial undertaking registered with the directorate of industries. It has not been possible for the company to ascertain and specify the amount due together with interest thereon, it any, to Small Scale Industrial units as required by Small Scale and Ancillary Industrial Undertaking Act, 1993.
18. Additional information pursuant to the provisions of paragraph 3, 4C and 4D of part II of schedule VI of the Companies Act, 1956 is as under:
(A) Details of Capacity, Product manufactured, Turnover, Opening Stock and Closing Stock of Goods produced for Sale and Goods Traded:
Comment on the production capacity is not possible being most of the machines has been sold till the end of the year and exact details of capacity of remaining machines is not available with the management of the company.
(ii) Production, Sales & Stocks:
Nil operations during the year.
(C) Value of Imported & Indigenous Raw Material, components & Stores & Spares Consumed Nil operations during the year.
(D) CIF value of Imports Nil Nil
(E) Expenses & Remittances in Foreign Currency Nil Nil
(F) Details of Foreign Shareholding and dividend Remitted there on:
(1) Foreign Shareholding
a. No. of Non-Resident Shareholders 18 18
b. No. of Overseas body corporate
(2) No. of Shares held on which dividend
Were paid Nil Nil
(3) Gross Dividend Remittance Nil Nil
(G) Earning in Foreign Currency Nil Nil
(On FOB Basis)