Jun 30, 2014
Dear Members,
The Directors have pleasure in presenting their Nineteenth Annual
Report together with the Audited Accounts of the Company for the year
ended on 30th June, 2014.
Financial Results
(Amount in Rs.)
For year ended on For year ended on
30th June, 2014 30th June, 2013
Gross Income (Including
Exceptional and Extraordinary 4,41,29,274 69,21,976
Items)
Expenditure 4,44,62,293 80,64,857
Profit/(Loss) before 1,39,216 (9,49,077)
Taxation & Depreciation
Depreciation 1,93,804 1,93,804
Profit / (Loss) before tax (3,33,019) (11,42,881)
Provision for Taxation & 2,36,720 2,83,904
Fringe Benefit Tax
Profit / (Loss) after tax (5,69,739) (14,26,785)
Profit / (Loss) brought (1,73,57,910) (1,59,31,125)
forward from last year
Profit / (Loss) carried (1,79,27,648) (1,73,57,910)
forward to Balance Sheet
Company showed a steep increase in the Income. Your Company posted a
Income of Rs. 441.29 lacs as against Rs. 69.22 lacs during the previous
year. As a result there was marginal decrease in the losses of the
Company. Your Company posted a Loss before Tax of Rs. 3.33 lacs against
a loss of Rs. 11.43 Lacs during the previous year.
(A detailed analysis of financial results has been made in "Management
Discussion & Analysis Report" which is annexed hereto.)
Management Discussion and Analysis
In accordance with the Listing Agreement entered into with stock
exchanges, the Management Discussion and Analysis Report is annexed
hereto and forms part of this report.
Fixed Deposits
The Company has not accepted any deposits from the Public within the
meaning of Section 58A of the Companies Act, 1956 during the period
under review.
Directors
Mr. Satish Mohiniraj Shidhaye will retire by rotation and being
eligible, has offered himself for re-appointment at the ensuing Annual
General Meeting. Your Directors recommend his re-appointment as
Director.
Directors Responsibility Statement
Pursuant to provisions of Section 217(2AA) of the Companies Act, 1956,
your Directors confirm that:
(i) In the preparation of these annual accounts, the applicable
accounting standards have been followed along with proper explanation
relating to material departures;
(ii) The accounting policies have been consistently applied and
reasonable and prudent judgments and estimates have been made, so as to
give a true and fair view of the state of affairs of the Company for
the year ended on 30th June 2014 and of the Loss of the Company for
that year;
(iii) Proper and sufficient care has been taken for the maintenance of
adequate accounting records in accordance with the provisions of this
Act, for safeguarding the assets of the Company and for preventing and
detecting fraud and other irregularities;
(iv) These annual accounts have been prepared on a going concern basis.
Auditors
M/s. Sekhri Kanodia & Associates., Chartered Accountants, the auditors
of the Company retire at the ensuing Annual General Meeting and being
eligible, offer themselves for re-appointment as the Auditors of the
Company. A certificate from the Auditors has been received to the
effect that their appointment, if made, would be within limits
prescribed under Section 224(1B) of the Companies Act, 1956.
Auditors Report
The Auditors Report to the Shareholders does not contain any adverse
qualifications.
Internal Control System
The Company maintains adequate internal control systems, which provide,
among other things, reasonable assurance of recording the transaction
of its operations in all material respects and of providing protection
against significant misuse or loss of Company''s assets. The Company is
now in the process of setting up Internal Audit System.
Corporate Governance
A report of the Corporate Governance is annexed hereto and forms part
of this Report. A Certificate from the Auditors of the Company
regarding the compliance of conditions of Corporate Governance is
attached to this Report.
Conservation of Energy, Technology Absorption and Foreign Exchange
Earnings & Outgo
The Company is not strictly engaged in the manufacturing activity; as
such particulars relating to conservation of energy and technology
absorption are not applicable. However, in the editing facilities,
offices etc., adequate measures are being taken to conserve energy as
far as possible.
As far as foreign exchange earning and outgo is concerned, the Company
has neither earned nor used any foreign exchange during the period
under review.
Particulars of Employees
There is no employee covered pursuant to Section 217(2A) of the
Companies Act, 1956 read with the Companies (Particulars of Employees)
Rules, 1975 as amended. Hence, no particulars'' are given.
Subsidiary Companies
A statement pursuant to Section 212 of the Companies Act, 1956 relating
to Company''s subsidiaries is attached to the balance sheet.
Consolidated Financial Statements
Your Directors have pleasure in attaching the Consolidated Financial
Statements prepared in accordance with the Accounting Standards
prescribed by the Institute of Chartered Accountants of India, in this
regard.
Acknowledgments
Your Directors wish to place on record their appreciation and
acknowledge with gratitude the support and co-operation extended by the
Bankers, Shareholders, Registrar & Transfer Agents, the Artists and
Technicians associated with the Company''s programmes, media and
channels, whose continued support has been a source of strength to the
Company. Your Directors also place on record their appreciation for
the dedicated and sincere services rendered by the employees of the
Company.
For and on behalf of the Board
Sd/-
(Manish Shah)
Chairman cum Managing Director
Place: Mumbai
Date: 27th August, 2014
Jun 30, 2013
The Directors have pleasure in presenting their Eighteenth Annual
Report together with the Audited Accounts of the Company for the year
ended on 30th June, 2013.
Financial Results
(Amount in Rs.)
For year ended on For year ended on
30th June, 2013 30th June, 2012
Gross Income (Including
Exceptional and
Extraordinary Items) 69,21,976 1,19,56,524
Expenditur 80,64,857 94,71,856
Profit/(Loss) before Taxation
Depreciation (9,49,077) 22,90,864
Depreciation 1,93,804 1,93,804
Profit / (Loss) before tax (11,42,881) 24,84,668
Provision for Taxation &
Fringe Benefit Tax 2,83,904 2,27,028
Profit / (Loss) after tax (14,26,785) 22,57,640
Profit / (Loss) brought forward
from last year (1,59,31,125) (1,81,88,765)
Profit / (Loss) carried
forward to Balance Sheet (1,73,57,910) (1,59,31,125)
Again due to existence of Big Corporate in the market, the Gross Income
during the year under review was Rs. 69.22 lacs as against Rs. 119.56 lacs
during the previous year. Your Company posted a Loss before tax of Rs.
11.42 Lacs against a profit of Rs. 24.84 Lacs.
(A detailed analysis of financial results has been made in "Management
Discussion & Analysis Report" which is annexed hereto.)
Management Discussion and Analysis
In accordance with the Listing Agreement entered into with stock
exchanges, the Management Discussion and Analysis Report is annexed
hereto and forms part of this report.
Fixed Deposits
The Company has not accepted any deposits from the Public within the
meaning of Section 58A of the Companies Act, 1956 during the period
under review.
Directors
Mr. Sandeep Poddar will retire by rotation and being eligible, has
offered himself for re-appointment at the ensuing Annual General
Meeting. Your Directors recommend his re-appointment as Director.
Directors Responsibility Statement
Pursuant to provisions of Section 217(2AA) of the Companies Act, 1956,
your Directors confirm that:
(i) In the preparation of these annual accounts, the applicable
accounting standards have been followed along with proper explanation
relating to material departures;
(ii) The accounting policies have been consistently applied and
reasonable and prudent judgments and estimates have been made, so as to
give a true and fair view of the state of affairs of the Company for
the year ended on 30th June 2013 and of the Loss of the Company for
that year;
(iii) Proper and sufficient care has been taken for the maintenance of
adequate accounting records in accordance with the provisions of this
Act, for safeguarding the assets of the Company and for preventing and
detecting fraud and other irregularities;
(iv) These annual accounts have been prepared on a going concern basis.
Auditors
M/s. Sekhri Kanodia & Associates., Chartered Accountants, the auditors
of the Company retire at the ensuing Annual General Meeting and being
eligible, offer themselves for re-appointment as the Auditors of the
Company. A certificate from the Auditors has been received to the
effect that their appointment, if made, would be within limits
prescribed under Section 224(1 B) of the Companies Act, 1956.
Auditors Report
The Auditors Report to the Shareholders does not contain any adverse
qualifications.
Internal Control System
The Company maintains adequate internal control systems, which provide,
among other things, reasonable assurance of recording the transaction
of its operations in all material respects and of providing protection
against significant misuse or loss of Company''s assets. The Company is
now in the process of setting up Internal Audit System.
Corporate Governance
A report of the Corporate Governance is annexed hereto and forms part
of this Report. A Certificate from the Auditors of the Company
regarding the compliance of conditions of Corporate Governance is
attached to this Report.
Conservation of Energy, Technology Absorption and Foreign Exchange
Earnings & Outgo
The Company is not strictly engaged in the manufacturing activity; as
such particulars relating to conservation of energy and technology
absorption are not applicable. However, in the editing facilities,
offices etc., adequate measures are being taken to conserve energy as
far as possible.
As far as foreign exchange earning and outgo is concerned, the Company
has neither earned nor used any foreign exchange during the period
under review.
Particulars of Employees
There is no employee covered pursuant to Section 217(2A) of the
Companies Act, 1956 read with the Companies (Particulars of Employees)
Rules, 1975 as amended. Hence, no particulars are given.
Subsidiary Companies
A statement pursuant to Section 212 of the Companies Act, 1956 relating
to Company''s subsidiaries is attached to the balance sheet.
Consolidated Financial Statements
Your Directors have pleasure in attaching the Consolidated Financial
Statements prepared in accordance with the Accounting Standards
prescribed by the Institute of Chartered Accountants of India, in this
regard.
Acknowledgments
Your Directors wish to place on record their appreciation and
acknowledge with gratitude the support and co-operation extended by the
Bankers, Shareholders, Registrar & Transfer Agents, the Artists and
Technicians associated with the Company''s programmes, media and
channels, whose continued support has been a source of strength to the
Company. Your Directors also place on record their appreciation for
the dedicated and sincere services rendered by the employees of the
Company.
For and on behalf of the Board
Sd/-
(Manish Shah)
Chairman cum Managing Director
Place: Mumbai
Date: 28th August, 2013
Jun 30, 2012
The Directors have pleasure in presenting their Seventeenth Annual
Report together with the Audited Accounts of the Company for the year
ended on 30th June, 2012.
Financial Results
(Amount in Rs.)
For year
ended on For year
ended on
30th June,
2012 30th June,
2011
Gross Income 88,06,524 63,95,730
Expenditure 92,78,052 56,42,218
Profit before
Taxation & Depreciation 26,78,472 7,53,512
Depreciation 1,93,804 1,93,804
Profit / (Loss) before tax 24,84,668 5,59,708
Provision for Taxation &
Fringe Benefit Tax 2,27,028 2,750
Profit / (Loss) after tax 22,57,640 5,56,958
Profit / (Loss) brought
forward from last year (1,81,88,765) (1,87,45,723)
Profit / (Loss) carried
forward to Balance Sheet (1,59,31,125) (1,81,88,765)
Again due to existence of Big Corporate in the market, the Gross Income
during the year under review increased to Rs.88.07 lakhs against
Rs.63.96 lakhs during the previous year. Your Company posted a Profit
before Tax of Rs.22.57 lakhs against a profit of Rs.5.60 lakhs during
the previous year.
(A detailed analysis of financial results has been made in "Management
Discussion & Analysis Report" which is annexed hereto.)
Management Discussion and Analysis
In accordance with the Listing Agreement entered into with stock
exchanges, the Management Discussion and Analysis Report is annexed
hereto and forms part of this report.
Fixed Deposits
The Company has not accepted any deposits from the Public within the
meaning of Section 58A of the Companies Act, 1956 during the period
under review.
Directors
Mrs. Ulka Shah will retire by rotation and being eligible, has offered
herself for re-appointment at the ensuing Annual General Meeting. Your
Directors recommend her re-appointment as Director.
Directors Responsibility Statement
Pursuant to provisions of Section 217(2AA) of the Companies Act, 1956,
your Directors confirm that:
(i) In the preparation of these annual accounts, the applicable
accounting standards have been followed along with proper explanation
relating to material departures;
(ii) The accounting policies have been consistently applied and
reasonable and prudent judgments and estimates have been made, so as to
give a true and fair view of the state of affairs of the Company for
the year ended on 30th June 2012 and of the profit of the Company for
that year;
(iii) Proper and sufficient care has been taken for the maintenance of
adequate accounting records in accordance with the provisions of this
Act, for safeguarding the assets of the Company and for preventing and
detecting fraud and other irregularities;
(iv) These annual accounts have been prepared on a going concern basis.
Auditors
M/s. Sekhri Kanodia & Associates., Chartered Accountants, the Auditors
of the Company retire at the ensuing Annual General Meeting and being
eligible, offer themselves for re-appointment as the Auditors of the
Company. A certificate from the Auditors has been received to the
effect that their appointment, if made, would be within limits
prescribed under Section 224(1 B) of the Companies Act, 1956.
Auditors Report
The Auditors Report to the Shareholders does not contain any adverse
qualifications.
Internal Control System
The Company maintains adequate internal control systems, which provide,
among other things, reasonable assurance of recording the transaction
of its operations in all material respects and of providing protection
against significant misuse or loss of Company's assets. The Company is
now in the process of setting up Internal Audit System.
Corporate Governance
A report of the Corporate Governance is annexed hereto and forms part
of this Report. A certificate from the Auditors of the Company
regarding the compliance of conditions of Corporate Governance is
attached to this Report.
Conservation of Energy, Technology Absorption and Foreign Exchange
Earnings & Outgo
The Company is not strictly engaged in the manufacturing activity; as
such particulars relating to conservation of energy and technology
absorption are not applicable. However, in the editing facilities,
offices etc., adequate measures are being taken to conserve energy as
far as possible.
As far as foreign exchange earning and outgo is concerned, the Company
has neither earned nor used any foreign exchange during the period
under review.
Particulars of Employees
There is no employee covered pursuant to Section 217(2A) of the
Companies Act, 1956 read with the Companies (Particulars of Employees)
Rules, 1975 as amended. Hence, no particulars are given.
Consolidated Financial Statements
Your Directors have pleasure in attaching the Consolidated Financial
Statements prepared in accordance with the Accounting Standards
prescribed by the Institute of Chartered Accountants of India, in this
regard.
Acknowledgments
Your Directors wish to place on record their appreciation and
acknowledge with gratitude the support and co-operation extended by the
Bankers, Shareholders, Registrar & Transfer Agents, the Artists and
Technicians associated with the Company's programmes, media and
channels, whose continued support has been a source of strength to the
Company. Your Directors also place on record their appreciation for
the dedicated and sincere services rendered by the employees of the
Company.
For and on behalf of the Board
Sd/-
(Manish Shah)
Chairman cum Managing Director
Place: Mumbai
Date: 12th November, 2012
Jun 30, 2010
The Directors have pleasure in presenting their Fifteenth Annual
Report together with the Audited Accounts of the Company for the year
ended on 30th June, 2010.
Financial Results
(Amount in Rs.)
For year ended on For year ended on
30th June, 2010 30th June, 2009
Gross Income 90,16,816 29,79,500
Expenditure 1,04,36,771 48,11,845
Profit before Taxation
& Depreciation (14,19,955) (18,32,345)
Depreciation 5 1,93,804 1,93,804
Profit / (Loss) before tax (16,13,759) (20,26,149)
Provision for Taxation
& Fringe Benefit Tax 0 44,809
Profit / (Loss) after tax (16,13,759) (20,70,958)
Profit / (Loss) brought
forward from last year (1,71,31,964) (1,50,61,006)
Profit / (Loss) carried
forward to Balance Sheet (1,87,45,723) (1,71,31,964)
Even though it was a bad year the gross income has increased from Rs.
29.80 lakhs in the previous year to Rs. 90.17 lakhs in the current
year, thereby registrering an increase of 200% on annualized basis. The
company has reported a loss of Rs. 16.14 lakhs in the current year as
against Rs. 20.71 lacks during the previous year. The Company is trying
to explore other areas of operation.
(A detailed analysis of financial results has been made in "Management
Discussion & Analysis Report" which is annexed hereto.)
Management Discussion and Analysis
In accordance with the Listing Agreement entered into with stock
exchanges, the Management Discussion and Analysis Report is annexed
hereto and forms part of this report.
Fixed Deposits
The Company has not accepted any deposits from the Public within the
meaning of Section 58A of the Companies Act, 1956 during the period
under review.
Directors
Mr. Sandeep Poddar will retire by rotation and being eligible, has.
offered himself for re-appointment at the ensuing Annual General
Meeting. Your Directors recommend his re-appointment as Director.
Directors Responsibility Statement
Pursuant to provisions of Section 217(2AA) of the Companies Act, 1956,
your Directors confirm that:
(i) In the preparation of these annual accounts, the applicable
accounting standards have been followed along with proper explanation
relating to material departures;
(ii) The accounting policies have been consistently applied and
reasonable and prudent judgments and estimates have been made, so as to
give a true and fair view of the state of affairs of the Company for
the year ended on 30th June 2010 and of the loss of the Company for
that year;
(iii) Proper and sufficient care has been taken for the maintenance of
adequate accounting records in accordance with the provisions of this
Act, for safeguarding the assets of the Company and for preventing and
detecting fraud and other irregularities;
(iv) These annual accounts have been prepared on a going concern basis.
Auditors
M/s. Sanjay Raja Jain & Co., Chartered Accountants, the auditors of the
Company retire at the ensuing Annual General Meeting and being
eligible, offer themselves for re-appointment as the Auditors of the
Company. A certificate from the Auditors has been received to the
effect that their appointment, if made, would be within limits
prescribed under Section 224(1 B) of the Companies Act, 1956.
Auditors Report
The Auditors Report to the Shareholders does not contain any adverse
qualifications.
Internal Control System
The Company maintains adequate internal control systems, which provide,
among other things, reasonable assurance of recording the transaction
of its operations in all material respects and of providing protection
against significant misuse or loss of companys assets. The Company is
now in the process of setting up Internal Audit System.
Corporate Governance
A report of the Corporate Governance is annexed hereto and forms part
of this Report. A certificate from the Auditors of the Company
regarding the compliance of conditions of Corporate Governance is
attached to this Report.
Conservation of Energy, Technology Absorption and Foreign Exchange
Earnings & Outgo
The Company is not strictly engaged in the manufacturing activity; as
such particulars relating to conservation of energy and technology
absorption are not applicable. However, in the editing facilities,
offices etc., adequate measures are being taken to conserve energy as
far as possible.
As far as foreign exchange earning and outgo is concerned, the Company
has neither earned nor used any foreign exchange during the period
under review.
Particulars of Employees
There is no employee covered pursuant to Section 217(2A) of the
Companies Act, 1956 read with the Companies (Particulars of Employees)
Rules, 1975 as amended. Hence, no particulars are given.
Subsidiary Companies
A statement pursuant to Section 212 of the Companies Act. 1956 relating
to Companys subsidiaries is attached to the balance sheet.
Consolidated Financial Statements
Your Directors have pleasure in attaching the Consolidated Financial
Statements prepared in accordance with the Accounting Standards
prescribed by the Institute of Chartered Accountants of India, in this
regard.
Acknowledgments
Your Directors wish to place on record their appreciation and
acknowledge with gratitude the support and co-operation extended by the
Bankers, shareholders, Registrar & Transfer Agents, and channels, whose
continued support has been a source of strength to the Company. Your
Directors also place on record their appreciation for the dedicated and
sincere services rendered by the employees of the Company.
For and on behalf of the Board
(Manish Shah)
Chairman
Managing Director
Place: Mumbai
Date : 22nd November, 2010