1. In the opinion of the management, current assets, loans and advances and other receivables have realizable value of at least the amounts at which they are stated in the accounts.
2. Previous year figures have been restated to conform to the classification of the current year.
3. Balances of Sundry Debtors, Unsecured Loans, and Sundry Creditors are Loans & Advances are subject to reconciliation, since conformations have not been received from them. Necessary entries will be passed on receipt of the same if required.
4. The company has not provided for Gratuity and Leave Encashment to Employees on accrual basis, which is not in conformity with AS-15 issued by ICAI. However, in the opinion of management the amount involved is negligible and has no impact on Statement of Profit & Loss.
Provisions, Contingent Liabilities & Contingent Assets
5. Disclosures in terms of Accounting Standards (AS 29) Provisions, Contingent Liabilities and Contingent Assets issued by the Institute of Chartered Accountants of India :
6. The Company creates a provision when there is a present obligation as a result of past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation.
7. A disclosure for a contingent liability is made when there is a possible obligation or present obligation that probably will not require an outflow of resources or where reliable estimate of the amount of the obligation cannot be made.
8. Contingent Assets are neither recognized nor disclosed.
Segment Report
9. Based on the Similarity of activities, risks and reward structure, organization structure and internal reporting systems, the Company has structured its operations into the following Segment :-
10. Recording & Selling/ Distribution of Audio Video CDs
11. Trading in Software & Hardware Products
12. Investments in Capital Market & Mutual Fund related activities
13. In the opinion of the Board, Current Assets, Loans and Advances are approximately of the value state, if realized in the ordinary course of business. Provisions for all known liabilities are adequate and not in excess of the amount considered necessary for the same.
Contingent Liabilities
14. Contingent Liabilities not provided for — Rs. Nil
Particulars of Director’s Remuneration
15. Rs. Nil has been paid towards Remuneration to Managing Director for the Year (P.Y Rs. Nil)
Related Party Transactions
16. Key Management Personnel —
17. Mr. Kailash Prasad Purohit - Managing Director
18. Mr. Jagdish Prasad Purohit - Non-Executive Director
19. Mr. Amit Gupta - Company Secretary & Compliance Officer
20. Mr. Pravin Sawant - Chief Financial Officer
21. Subsidiary Company -
JMD Broadcasting Private Limited (Domestic Company)
22. Group Companies or Companies under same management -
23. Blue Circle Services Limited
24. Prime Capital Market Limited
25. Unisys Softwares & Holding Industries Limited
25. Scan Infrastructures Limited
27. Warner Multimedia Limited
28. JMD Sounds Limited
29. Companies having common Directorship —
30. Bajaao Music Private Limited
Deferred Tax on Income
31. Deferred Tax Asset (Net) for the year ended 31st March 2016 amounts to Rs.3,13,150/
32. Remuneration to Auditors
33. Sundry Debtors and creditors are subject to confirmation and reconciliation.
34. 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, 2016. This information as required to be disclosed under 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.
35. Previous years’ figures have been regrouped, rearranged wherever necessary to make them comparable with those of current year.
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