1. Defined benefits plan:
The present value of obligation is determined based on actuarial
valuation using the Projected Unit Credit Method, which recognises each
period of service as giving rise to additional unit of employee benefit
entitlement and measures each unit separately to build up the final
obligation.
As at 31st As at 31st
Particulars March 2015 March, 2014
AMOUNT AMOUNT AMOUNT AMOUNT
Rs. Rs. Rs. Rs.
2. Contingent Liabilities :
a. Bank Guarantees Outstanding 300,000 300,000
b. Claim against the company not 140,800,000 140,800,000
acknowledged as Debt
The National Broadcaster claimed a sum of Rs. 1408.00 lacs which is
under dispute. The arbitration proceedings into the matter is under
process. The amount disclosed is the minimum liability on this count
excluding interest thereon which is presently not quantifiable
3. Expenditure / Earnings in Foreign Currency :
There is no expenditure and earnings in foreign currency during the
year.
4. The following Premises are yet to be transferred in the name of
the Company :
6/7 Blue Diamond at Juhu Tara Road, Mumbai
5. Related party disclosure :
Related party disclosure as required by AS - 18 issued by the Institute
of Chartered Accountants of India.
a) Relationship :
Key Management Personnel
Mr. Dheeraj Kumar Chairman & Managing Director
Mrs. Zuby Kochhar Executive Director
Other Directors
Mr. Shiv S. Sharma Non Executive Director
Mr. M.R. Sivaraman Non Executive Director
Mr. TK. Choudhary Non Executive Director
6. Arbitration proceeding with National Broadcaster (Doordarshan)
As per the order of Hon'ble arbitrator, the Company had paid an amount
of Rs. 2,00,00,000/- to Prasar Bharti Broadcasting Corporation of India
(PBBCI). And also PBBCI/The Directorate General, Doordarshan had
acquired programmes from the existing library of the company for Rs.
1,34,78,831/-, representing cost of acquisition of programmes payable,
which had not been paid directly to CEL but had been adjusted /
credited / treated as amount received in kind by PBBCI / The
Directorate General, Doordarshan on behalf of Creative Eye Limited. The
said amounts are included in Others Short Term Loans & Advances. Also,
Trade Receivable includes Rs. 3,00,000/-, receivable from Prasar
Bharati Broadcasting Corporation of India. The final accounting /
financial implication in the respective account shall be reflected /
adjusted at the time of final outcome of the arbitration proceedings.
7. Amounts Written Off/ Written Back: -
During the financial year an amount of Rs. 49,301/- (Previous Year Rs.
28,925/-) has been written off on account of Trade Receivable which
became irrecoverable in spite of best efforts for recovery.
An amount of Rs. 2,29,895/- (Previous Year Rs. 6,20,228/-) has been
written back as it became no longer payable.
8. Figures of previous year have been regrouped/ reclasified/
rearranged wherever necessary.
9. There is only One Reportable Segment - 'Production of Audio-Visual
T. V. Content'. Accordingly no separate segment wise disclosure has
been made.
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