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Notes to Accounts of Moving Picture Company (India) Ltd.

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.