36 Segment Reporting

The Company is mainly engaged in Media Business which is identified as the only and primary business segment of the company. Therefore, no further information is required to be disclosed. Further all the operating facilities are located in India. There are no reportable segments in accordance with the requirements of Ind AS 108 -’Operating Segment Reporting’, notified under the Companies (Indian Accounting Standards) Rules, 2015.

Sensitivities due to mortality and withdrawals are not material & hence impact of change not calculated. Furthermore, in presenting the above sensitivity analysis, the present value of the defined benefit obligation has been calculated using the projected unit credit method at the end of the reporting period, which is the same as that applied in calculating the defined benefit obligation liability recognised in the statement of financial position.

Sensitivities as to rate of inflation, rate of increase of pensions in payment, rate of increase of pensions before retirement & life expectancy are not applicable being a lump sum benefit on retirement.

x. The estimates of future salary increase considered in actuarial valuation, take account of inflation, seniority, promotion and other relevant factors. The above information is certified by the actuary and relied upon by the auditors.

xi. The employer ’s best estimate of contribution expected to be NIL since the scheme is managed on unfunded basis.

SSensitivities due to mortality and withdrawals are not material & hence impact of change not calculated.

Furthermore, in presenting the above sensitivity analysis, the present value of the defined benefit obligation has been calculated using the projected unit credit method at the end of the reporting period, which is the same as that applied in calculating the defined benefit obligation liability recognised in the statement of financial position.

Sensitivities as to rate of inflation, rate of increase of pensions in payment, rate of increase of pensions before retirement & life expectancy are not applicable being a lump sum benefit on retirement.

viii. The estimates of future salary increase considered in actuarial valuation, take account of inflation, seniority, promotion and other relevant factors. The above information is certified by the actuary and relied upon by the auditors.

ix. The employer ’s best estimate of contribution expected to be NIL since the scheme is managed on unfunded basis.

39 Financial Instruments 39.1 Capital Management

The Company manages its capital to ensure that it will be able to continue as going concerns while maximising the return to stakeholders through the optimisation of the debt and equity balance.

Company is not subject to any externally imposed capital requirements.

The Company manages its capital structure and makes adjustments in light of changes in economic conditions and the requirements of the financial covenants. To maintain or adjust the capital structure, the Company may adjust the dividend payment to shareholders, return capital to shareholders or issue new shares. The Company monitors capital using a gearing ratio, which is net debt divided by total capital plus net debt. The Company includes within net debt, interest bearing loans and borrowings less cash and cash equivalents, excluding discontinued operations.

39.4 Fair Value Hierarchy

Level 1- Quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2- Input other than quoted prices included within level 1 that are observable for the asset or liabilities, either directly ( i. e as prices) or indirectly (i.e. derived from prices).

39.5 Financial Risk Management Objectives and Policies

The Company’s principal financial liabilities, comprise loans and borrowings, trade and other payables. The main purpose of these financial liabilities is to finance the Company’s operations. The Company’s principal financial assets include loans, trade and other receivables, and cash and cash equivalents that derive directly from its operations.

The company’s activities expose it to a variety of financial risks: currency risk, interest rate risk credit risk and liquidity risk. The company’s overall risk management strategy seeks to minimise adverse effects from the unpredictability of financial markets on the company’s financial performance. The Company’s senior management is supported by a financial risk committee that advises on financial risks and the appropriate financial risk governance framework for the Company. The financial risk committee provides assurance to the Company’s senior management the Company’s financial risk activities are governed by appropriate policies and procedures and that financial risks are identified, measured and managed in accordance with the Company’s policies and risk objectives The Audit committee reviews and agrees policies for managing each of these risks, which are summarised below.

39.6 Credit Risk

Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Company is exposed to credit risk from its operating activities (primarily trade receivables) and from its financing activities, including deposits with banks and financial institutions and other financial instruments.

Cash & Cash Equivalents

With respect to credit risk arising from financial assets which comprise of cash and cash equivalents, the Company s risk exposure arises from the default of the counterparty, with a maximum exposure equal to the carrying amount of these financial assets at the reporting date. Since the counter party involved is a bank, Company considers the risks of non-performance by the counterparty as non-material.

Trade Receivables

Trade Receivables consist of large number of customers spread across India & abroad. Ongoing credit evaluation is performed on the financial conditions of account receivables.

39.7 Liquidity and Interest Risk Tables

The following tables detail the company’s remaining contractual maturity for its financial liabilities with agreed repayment periods. The tables have been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the company can be required to pay. The contractual maturity is based on the earliest date on which the company may be required to pay.

39.8 Value Measurements

This note provides information about how the company determines fair values of various financial assets and financial liabilities. Fair value of financial assets and financial liabilities that are not measured at fair value (but fair value disclosures are required).

The directors consider that the carrying amounts of financial assets and financial liabilities recognised in the financial statements approximate their fair values.

41 Contingent Liabilties & Commitments

Disputed employees Provident Fund liabilities before

- Hon’ble High Court of Delhi Rs. 6.68 Lakh (As at 31.03.2023 Rs. 6.68 Lakh)

- Central Government Industrial Tribunal Rs. 14.13 lakh (As at 31.03.2023 Rs. 14.13 Lakh)

Disputed GST liabilities before

- Hon’ble Deputy Commissioner of GST of Delhi: GST Demand of Rs. 74.21 lakh plus Rs. 14.03 Lakhs against Interest for FY 2018-19.

*Company is taking measures to file appeal before appropriate authorities.

The Company is a co-borrower with respect to borrowing by its subsidiary - Cyber Media Research & Services Limited from Karur Vysya Bank Limited outstanding balance Rs. 860.47 Lakhs (As at 31st March, 2023 Rs. 679.70 Lakhs)

The Company does not expect any outflows with respect to aforesaid items.

Claims against the Company not acknowledged as debt:

- A former employee of Cyber Media India LLC (erstwhile foreign WOS {already wound up} of the Company) has approached the Hon’ble High Court of Delhi for grant of an execution decree under Chapter X of the Indian Arbitration & Conciliation Act,

| 1996 of an ex - parte foreign arbitration award of USD 21,63,323. The Company has not accepted the ex-parte arbitration

! award and is contesting the grant of execution decree by the Hon’ble High Court of Delhi. The matter is still pending for

decision before the Hon’ble High Court of Delhi.

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L

- The Company has a reasonable chance of success in the matter as the award has been analysed and advised to be contrary

i to public policy/fundamental policy under Indian law”.

43 Additional Regulatory Information

The following is the additional regulatory information required by the clause L of General Instruction for Preparation of Balance Sheet of Division II of Schedule III of the Companies Act, 2013.

i) Title deeds of Immovable Property not held in name of the Company

The title deeds of immovable properties disclosed in the financial statements are held in the name of the Company.

ii) Fair Value of Investment Property

The Company does not have any Investment Property, hence clause (ii) is not applicable to Company.

iii) Revaluation of Property, Plant & Equipment

The Company has not revalued its Property, Plant and Equipment , hence clause (iii) is not applicable to the company.

iv) Revaluation of Intangible Assets

The Company has not revalued its Intangible Assets , hence clause (iv) is not applicable to the company.

v) Loans or Advances to specified persons

The Company has not granted any Loans or Advances in the nature of loans to promoters, Directors, KMPs and the related parties (as defined under Companies Act, 2013), either severally or jointly with any other person, that are: (a) repayable on demand; or (b) without specifying any terms or period of repayment, hence clause (v) is not applicable to company.

vi) Capital Work-in-Progress (CWIP) ageing schedule/ completion schedule

The Company does not have Capital Work-in-Progress (CWIP), hence clause (vi) is not applicable to the Company.

vii) Intangible assets under development ageing schedule/ completion schedule

The Company does not have Intangible assets under development , hence clause (vii) is not applicable to the company.

viii) Details of Benami Property held

No proceedings have been initiated or are pending against the company under the Benami Transactions (Prohibition) Act,1988, hence clause (viii) is not applicable to the company.

ix) Borrowings secured against current assets

The Company has a vehicle loan from THE KARUR VYSYA BANK LIMITED and one other loan taken from Cyber Media Research & Services Limited, subsidiary of the Company secured against immovable property i.e. CYBER HOUSE located at Gurugram. The Company has no borrowings against current assets. Hence clause (ix) is not applicable.

x) Willful Defaulter

The Company has not been declared as a willful defaulter by any bank or financial institution or any other lender, hence clause (x) is not applicable to company.

xi) Relationship with Struck off Companies

To the best of its knowledge and information and examination of other records & documents, the Company has not undertaken any transaction with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956, hence clause (xi) is not applicable.

xii) Registration of charges or satisfaction with Registrar of Companies (ROC)

There are no charges or satisfaction that need to be registered with ROC beyond the statutory period , hence clause (xii) is not applicable.

xiii) Compliance with number of layers of companies

The provisions of clause (87) of section 2 of the Act read with the Companies (Restriction on number of Layers) Rules, 2017 are not applicable to the Company as per Section 2(45) of the Companies Act,2013 hence clause (xiii) is not applicable.

xiv) Accounting Ratio

These accounting ratios are disclosed in note 42 to the financial statements.

xv) Compliance with approved Scheme(s) of Arrangements

No scheme of Arrangements has been approved by competent authority in terms of sections 230 to 237 of the Companies Act,2013 in respect of the Company, hence clause (xv) is not applicable to company.

xvi) Utilization of Borrowed funds and share premium

The Company has not provided nor taken any loan or advance to/from any other person or entity with the understanding that benefit of the transaction will go to a third party, the ultimate beneficiary, hence clause (xvi) is not applicable.

44 Other Additional Information

The following is the other additional information required by Para 7 of the General Instructions for Preparation of Statement of Profit and Loss of Division II of Schedule III of the Companies Act, 2013

i) Undisclosed income

The Company records all the transaction in the books of accounts properly and has no undisclosed income during the year or in previous years in the tax assessments under the Income Tax Act, 1961 hence clause (i) is not applicable to the company.

ii) Corporate social responsibility

The Provisions of section 135 of the Companies Act, 2013 are not applicable to the company hence clause (m) is not applicable to the company.

iii) Details of Crypto currency or Virtual currency

The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year hence clause (n) is not applicable to the company.

45 There is no event occur after reporting period which needs to be disclosed except that orders under GST Act have been received from the GST department for financial year 2018-19 raising a demand of Rs. 74.21 Lakhs plus Interest of Rs. 14.03 Lakhs (refer note: 41)

46 The figures of the previous period have been re-grouped / re-classified wherever necessary to correspond with the figures of the current year. Trade receivables and trade payables are subject to external comfirmations.

47 There is no further material information required to be disclosed as per Schedule III to the Companies Act, 2013, Companies (Indian Accounting Standards) Rules 2015 or other provisions of the Companies Act, 2013.

48 Approval of Financial Statements

The financial statements of the Company for the year ended March 31,2023 were approved by the board of directors in their meeting held on May 28, 2023.The Financial statements can be re-opened/voluntary revised under certain circumstances as provided under section 130 & 131 of the Companies Act, 2013.