| 1. Contingent Liabilities not provided for: NIL
2. Remuneration to Directors:
Since the Company does not pay any commission on its net profits, the
computation of net profits as under section 349 of the Companies Act,
1956 is not required to be appended.
(Amount in Rs)
Particulars 31.3.2014 31.3.2013
Salary 3,00,000 3,00,000
Perquisites - -
Total 3,00,000 3,00,000
3. The Employee's Provident Fund Rules are not applicable to the
Company. As per the further explanation, the companies own staff is
outside the limit set out by the Provident Fund Rules. The Employee
State Insurance Scheme does not apply to the employees of the company
during the year. Accordingly, the Company does not have any Liability
towards retirement benefits in respect of employees, as Company has
less than 10 employees on payroll.
4. Deferred Tax Asset / Liability
Deferred Tax Asset has been created to comply with Accounting Standard
22 on accounting for taxes on income, issued by the institute of
Chartered Accountants of India. As a result, the Company has recognized
for the current year, Rs. 2,05,452/- in the Profit & Loss account on
account of deferred tax asset on timing difference in Depreciation.
5. The debit and credit balances in the accounts of contractors,
suppliers, debtors and loans & advances are subject to confirmation and
reconciliation.
6. In the opinion of the Board and to the best of their knowledge and
belief, the value of realization of Current Assets, Loans and Advances,
in the ordinary course of business would not be less than the amount at
which they are stated in the Balance Sheet.
7. The Company has not received information from vendors regarding
their status under the Micro, Small and Medium Enterprises Development
Act, 2006 and hence disclosure relating to amounts unpaid as at the
year-end together with interest payable under this Act has not been
provided in the books. During the year, the Company has not made any
payments on account of interest to such creditors. Under the
circumstances, the Company could not ascertain interest element of cost
to be charged to profit and loss account.
8. Disclosure as per clause 32 of Listing Agreement:
The Company has no loans & advances in the nature of Loans given to
Subsidiaries, Associate and others.
9. Figures of previous year have been regrouped and rearranged,
wherever necessary.
10. As the Company is in Media Industry, additional information
pursuant to the Provision of Paragraph 3 and 4 in Para II of Schedule
VI to the Companies Act, 1956 is not furnished.
11. Sundry Creditors:
Disclosures under section 22 of Micro, Small and Medium Enterprises
Development Act, 2006 can be considered on receiving relevant
information from such suppliers covered under Act.
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