2. Contingent Liabilities not provided for :

a. Guarantees given by the company Rs. NIL (PY. - NIL)

b. Claims against the company not acknowledge as debts Rs. 14.99 Lacs (PY. - NIL)

Income Tax (AY 2010-11)

3. Balance confirmations, Sundry Debtors, Sundry Creditors, Deposits and the parties to whom the advances are given are subject to reconciliation and such are as per books of accounts only. Adjustment thereto having an impact of revenue nature, if any, will be made during the period in which the same are fully reconciled.

4. In the opinion of Board of Directors and explanations given to us, the Current Assets, Loans and Advances are approximately of the value stated if realised in the ordinary course of business. The provision for depreciation and all known liabilities are adequate.

5. Earning & Expenditure in foreign exchange

a) Earnings NIL (RY. NIL)

b) Expenditure Rs. NIL (RY. 67,088/-)

Note: 1) ) Segments have been identified in line with Accounting Standard - 17 (AS-17) on Segment Reporting issued by the Institute of Chartered Accountants of India, taking into account the nature of activities as well as the differential risks and returns attached. The Company's operation predominantly relates to the following segments:

a) Information Technologies/Services

b) Film Production and Distribution

c) Investment & Finance

2) There is no inter-divisional or inter segmental transfer of goods and services.

3) There is no secondary segments i.e. Geographical by Customers.

6. Related party Disclosure (where transactions have taken place): In terms of Accounting Standard AS-18, all related parties have been identified by management and relied upon by the auditors.

a) Name of Related Parties & description of relationship:

i) Key Management Personnel:

Sh. Rakesh Bhhatia - Chairman

Sh. Ashok Juneja - Director

Smt. Arti Bhatia - Wife of Rakesh Bhhatia

Smt. Jaya Misra - Director

Sh. Rajiv Kumar - Director

Sh. Vimal Kumar Srivastava - Director

Sh. J K Bhatia - Brother of Rakesh Bhhatia

Ms. Garima Bhatia - Daughter of Rakesh Bhatia

Smt. Bharti Singh - Sister-in-law of Rakesh Bhatia

(ii) Related Parties where control exists:

Bharatiya Global Infomedia Limited Bhatia Investment & Finance (P) Ltd. Number One Finsec (P) Ltd.

Number One Finvest (P) Ltd.

Grindlay Finman (P) Ltd.

Ignite Media & Entertainment Pvt. Ltd Rakesh Bhhatia HUF

7. Previous year figures have been re-grouped, re-arranged and/or re-casted, wherever considered necessary so as to make them comparable with the current year figures.

8. No Provision has been made for Gratuity, leave encashment or other retirement benefits, which are accounted for on payment basis only. However, the company has calculated the estimated amount of gratuity which comes to Rs. 2,40,577/- as at 31st March 2014.

9. The Company has paid a sum of Rs. 1,28,46,331 as share application money to Grindlay Finman Private Limited and Rs. 50,50,000 to Number One Finvest Private Limited, but no written intimation of allotment of shares has been received as yet by either of the companies and the same are shown under head Short-Term Loans and Advances in the balance sheet.

10. No provision has been made for diminution in value of Investments as in the opinion of management, the diminution in the value of quoted investments amounting to Rs. 186.35 lacs is temporary in nature.

11. Above mentioned Significant Accounting policies and notes on Accounts form an integral part of the Balance Sheet as at 31st March, 2014 and the statement of Profit & Loss Account for the year ended on that date and have been duly authenticated.