Notes to Accounts of Vision Cinemas Ltd.

Mar 31, 2016

1. Other Current Assets:

There is also an outstanding balance to the tune of Rs.69000834 /- (Previous year Rs. 65 7 544 4 3/-) due from Pyramid Entertainment India Private Limited, a subsidiary of the company. The Managements has a perception that above amount is recoverable and ensures that the same need not be written off,

2. In view of Brought forward losses under provisions of Income Tax Act,1961 and also under the provisions of section 115JBof the Income Tax Act,1961 no provision has been made for taxes for the previous financial year.

3. RELATED PARTY TRANSACTIONS

Name of the Related Party Relationship

Ranga Vasanth Key Managerial Personnel

Anitha Vasanth Key Managerial Personnel

M/s Pyramid Entertainment India Private Limited Wholly owned Subsidiary

M/s Vasanth Color Laboratories India Limited Other Related Parties

M/s SI Media LLP Other Related Parties

M/s Visual Communication Services, Partnership firm Other Related Parties

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Mar 31, 2015

1 GENERAL INFORMATION

Vision Cinemas Limited (VCL) was incorporated on 18th June, 1992. VCL is a Company in the business of Processing of cine and telefilms,video films,satellite and cable TV and tape recorders, processing,printing,titling, recording and dubbing etc and to carry on business as producers of feature films and as distributors,hirers,exhibitors and negative holders of documentary and feature films of all languages.

The Company has investment in Pyramid Entertainment India Private Limited, being its wholly owned subsidiary. The Company and its subsidiaries (hereinafter collectively referred to as 'the Group') are incorporated in India and are engaged in the business of Processing of cine and telefilms,video films,satellite and cable TV and tape recorders, processing,printing,titling, recording and dubbing etc and to carry on business as producers of feature films and as distributors,hirers,exhibitors and negative holders of documentary and feature films of all languages.

2.1 SEGMENT REPORTING

The company's predominant risks and returns are from single business segment, which constitute the major revenue of the company for the reporting period. Since, this being a single business segment, the segment information as per Accounting Standard 17, "Segment Reporting",

2.2 In the opinion of Board of Directors, all current assets, loans and advances, Investments have atleast the value as stated in the Balance Sheet,if realized in the ordinary course of business.

2.3 IMPAIRMENT OF ASSETS

Pursuant to Accounting Standard AS-28- Impairment of assets issued by the Companies Accounts, 2014, The Company assessed its fixed assets for impairment as at 31st March 2015 and concluded that there has been no significant impaired fixed asset that needs to be recognized in thebooks of account.

2.4 Confirmation of balances in respect of debtors and creditors has not been obtained in a few cases.

2.5 All Current Assets,Loans and advances,have atleast the value as stated in the Balance Sheet if realised in the ordinary course of Business.

2.6 Other Current Assets:

There is an outstanding balance to the tune of Rs.91399240 /- (Previous year: Rs 90816057/-) in Trade receivables on account of transfer of film rights due from Vasanth Color Laboratories Limited,a company in which directors are interested.

There is an outstanding balance to the tune of Rs.517374 /- (Previous year: Nil) in Trade receivables on account of screening of Advertisement due from Visual Communication Services, a partnership firm in which directors are the partners.

The Management has a perception that this amount is recoverable and ensures that the same need not be written off.

There is also an outstanding balance to the tune of Rs.65754443 /- (Previous year Rs.67446248/-) due from Pyramid Entertainment India Private Limited, a subsidiary of the company.

2.7 On account of Brought forward losses under provisions of Income Tax Act,1961 and also under the provisions of section 115JB of the Income Tax Act,1961 no provision has been made for taxes for the previous financial year.

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Jun 30, 2011

1. Sundry Debtors and Loans & Advances:

i) Balances in certain Sundry Debtors, Creditors, Loans and advances are subject to confirmation. Sundry Debtors includes an amount of Rs. 2,41,44,2277- (Previous Year : Rs. Nil ) due from M/s Pyramid India Private Limited, a fully owned Subsidiary Company.

ii) All Current Assets, Loans and advances, have at least the value as stated in the Balance Sheet if realized in the ordinary course of the Business.

iii) There is an outstanding balance to the tune of Rs.4,79,94,7707- (Previous Year : Rs. 4,78,46,8897-) in Loans and Advances due from M/s Vasanth Color Laboratories Limited, a company in which directors are interested. The management has a perception that this amount is recoverable and ensures that the same need not be written off. There is also an outstanding balance to the tune of Rs.4,71,02,4787- (Previous Year: Rs. Nil) due from M/s Pyramid Entertainment India Private Limited, a fully owned Subsidiary of the Company.

2. Investments:

The Company has during the financial year acquired all the shares of M/s Pyramid Entertainment India Private Limited (PEIPL) on 10-06-2011 by Cash for an amount of Rs.20.00 Lacs by way Cash for purchase of 50,000 equity shares of PEIPL of face value of Rs.10.00 each at a price of Rs.40.00 per equity share in line with the book value of the equity shares. Upon transfer of these shares, PEIPL has become a fully owned subsidiary of Vision Technology India Limited. In addition to the above consideration the owners of PEIPL will be paid a sum of Rs.4.50 crores within a period of 12 months from 01 -07-2011.

3. Taxes: '

On account of brought forward losses under provisions of Income Tax Act, 1961 and also under provisions of Section 115JB of the Income Tax Act, 1961 no provision has been made for Taxes for the current financial year.

4. Earnings per Share

The following table reflects the income and share data used in the computation of BasicDiluted Earnings per Share.

5. In the absence of information with the Company relating to the registration status of suppliers under the Micro, Small and Medium Enterprises Development Act, 2006, the information under the said act could not be compiled and disclosed.

6. There are no amounts outstanding to any small scale industries during the year as identified by the company.

7. Previous year figures have been presented on a comparative and consistent basis and regrouped where appropriate/practicable.

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Jun 30, 2010

1 Sundry Debtors and Loans St Advances:

i) Balances in certain Sundry Debtors, Creditors, Loans and advances are subject to confirmation.

ii) All Current Assets, Loans and advances, have at least the value as stated in the Balance Sheet if realized in the ordinary course of the Business,

iii) There is an outstanding balance to the tune of Rs. 4,78,46,889/- in Loans and Advances due from M/s Vasanth Color Laboratories Limited, a company in which directors are interested. The management has a perception that this amount is recoverable and ensures that the same need not be written off.

2 The information required by Paras 3 and 4 of Part II of Schedule VI of the Companies Act, 1956 is as under:

- Quantitative Details of Raw Films :

Opening Stock: NIL

Purchased: NIL

Consumed: NIL

Closing Stock: NIL

3 Related Party Transactions:

a) Key Managerial Personnel

Name of the Employee Designation

Ranga Vasanth Managing Director

Anitha Vasanth Director

b) Other Related Parties: Vasanth Colour Laboratories Limited and Pyramid

Entertainment Private Ltd

Income from Vasanth Colour Laboratories Limited /. Lease rental received - Rs. 20,66,400/- (Previous Year: Rs.20,22,300/-) II. Project Revenue - Rs. 2,56,90,820/- (Previous Year: Rs. 3,08,98,228/-)

4 In the absence of information with the Company relating to the registration status of suppliers under the Micro, Small and Medium Enterprises Development Act, 2006, the information under the said act could not be compiled and disclosed,

5 There are no amounts outstanding to any small scale industries during the year as identified by the company.

6 Previous year figures have been presented on a comparative and consistent basis and regrouped where appropriate/practicable.

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Jun 30, 2009

1 Sundry Debtors and Loans & Advances:

i) Balances in certain Sundry Debtors, Creditors, Loans and advances are subject to confirmation.

ii) All Current Assets, Loans and advances, have at least the value as stated in the

Balance Sheet if realized in the ordinary course of the Business.

iii) There is an outstanding balance to the tune of Rs. 22,634,789/- in Loans and Advances due from M/s Vasanth Color Laboratories Limited, a company in which directors are interested. The management has a perception that this amount is recoverable and ensures that the same need not be written off.

2 The information required by Paras 3 and 4 of Part II of Schedule VI of the Companies Act, 1956 is as under:

- Quantitative Details of Raw Films :

Opening Stock: NIL Purchased: NIL Consumed: NIL Closing Stock: NIL

- Administrative cost includes remuneration to auditors as follows:

3 Earnings per Share

The following table reflects the income and share data used in the computation of Basic Diluted Earnings per Share.

4 Related Party Transactions:

a) Key Managerial Personnel

Name of the Employee Designation

Ranga Vasanth Managing Director

Anitha Vasanth Director

b) Other Related Parties: Vasanth Colour Laboratories Limited and Pyramid Entertainment Private Ltd

Income from Vasanth Colour Laboratories Limited /. Lease rental received - Rs.2,022,300/- (previous year- Rs. 18,90,000) II. Project Revenue - 30,898,228-(previous year- Rs.36,080,306)

5 In the absence of information with the Company relating to the registration status of suppliers under the Micro, Small and Medium Enterprises Development Act, 2006, the information under the said act could not be compiled and disclosed.

6 There are no amounts outstanding to any small scale industries during the year as identified by the company.

7 Previous year figures have been presented on a comparative and consistent basis and regrouped where appropriate/practicable.