అకౌంట్స్ గమనికలుPerfect-Octave Media Projects Ltd.

Mar 31, 2025

1) In the year 2012, the company acquired M/s Gandhar Media Limited as a result above goodwill has been recorded on the basis of cost of acquisition. As per IND AS 103, since the goodwill was created by way of business combination the same is not amortised. Hence the management has recorded the same at a carrying value as on 31.03.2016 i.e. Rs 357.51 Lakhs

2) As per management''s opinion the economic benefit of content & goodwill is more than the value recorded in books of accounts hence there is no provision made for impairment of goodwill.

3) Intangible assets consist of contents created, purchased and developed which will generate economic benefit in future which cannot be determined at present hence the same is not amortized during the year.

1. Cost of unquoted equity instruments has been considered on cost because of a wide range of possible fair value measurements and cost represents the best estimate of fair value within that range.

2. The above Investment is unquoted investment made in equity capital of the Janta Sahakari Bank with Rs. 100 Face value.

Note: 1. Balance of Debtors are subject to Confirmation and/ or reconciliation/ consequential adjustments if any.

2. The book debt upto 30% is hypothecated to Indian Bank for availment of cash credit facility.

Note: **The holdings of Rutmarg Commercials Pvt Ltd consist of 38,92,875 shares (14,00,000) on 21/09/2016 and (24,92,875) on 22/11/2017 were received from Ratish Tagde in lieu of money given to company (perfect octave) to liquidate urgent liabilities. Since the money has not been returned M/s Rutmarg Commercials Pvt ltd is still holding the above mentioned shares of company.

d. Rights Attached to Equity Shares

The company has only one class of shares referred to as equity shares having a par value of Rs 10/- each.

Each holder of equity shares is entitled to one vote per share and are at par with other shareholders having same number of shares.

1) Secured loan of Rs. 143.00 Lakhs is borrowed from AU Bank and is secured against Term Deposit in the name of Ganeshkumar Kuppan (Director) and guarantee by the director.

2) Secured loan of Rs 10 Lakhs is borrowed from Allahabad Bank (now Indian bank) against hypothecation of trade receivables at the rate of 30%.

3) Quarterly returns or statements of trade receivables filed by the Company with banks are in agreement and commensurate with the books of accounts.

Basic EPS amounts are calculated by dividing the profit for the year attributable to equity holders of the parent by the weighted average number of Equity shares outstanding during the year.

Diluted EPS amounts are calculated by dividing the profit attributable to equity holders of the parent (after adjusting profit impact of dilutive potential equity shares, if any) by the aggregate of weighted average number of Equity shares outstanding during the year and the weighted average number of Equity shares that would be issued on conversion of all the dilutive potential Equity shares into Equity shares.

Explanation for variation in ratio:

1) Variance in Current Ratio is due to increase in current assets in comparison to the current liabilities.

2) Variance in Return on equity ratio is is due to decrease in sales and its profit as compared to last year.

3) Variance in Trade receivable turnover is due to decrease in Revenue and thus resulting in decrease of debtors as compared to last year.

4) Variance in Net Capital Turnover ratio is due to increase in Revenue as compared to last year.

5) Variance in Net Profit ratio is is due to decrease in sales and profit as compared to last year.

6) Return on capital employed ratio changes due to significant decline in sales and financial result.

Note 23: Financial instruments - Fair values and risk management

(a) Financial Risk Management

The Company''s business activities are exposed to financial risks, namely Credit risk and Liquidity risk .The Company''s Senior Management has the overall responsibility for establishing and governing the Company''s risk management framework. The Company''s Board has constituted a audit committee, which is responsible for developing and monitoring the Company''s risk management policies. The committee reports regularly to the Board of Directors on its activities.

The Company''s risk management policies are established to identify and analyse the risks faced by the Company, to set appropriate risk limits and controls and to monitor risks and adherence to limits. Risk management policies and systems are reviewed regularly to reflect changes in market conditions and the Company''s activities.

The audit committee oversees how Management monitors compliance with the Company''s risk management policies and procedures, and reviews the adequacy of the risk management framework in relation to the risks faced by the Company.

i. Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations, and arises principally from the Company''s receivables from customers and investment securities. Credit risk is managed through credit approvals, establishing credit limits and continuously monitoring the creditworthiness of customers to which the Company grants credit terms in the normal course of business. The Company establishes, if require an allowance for doubtful debts and impairment that represents its estimate of incurred losses in respect of trade and other receivables and investments.

ii. Liquidity risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The Company''s approach to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company''s reputation.

(b) Financial assets and liabilities

For the purpose of the Company''s capital management, capital includes issued capital and other equity reserves. The primary objective of the Company''s Capital Management is to maximize shareholders value. The Company manages its capital structure and makes adjustments in the light of changes in economic environment and the requirements of the financial covenants.

Note 26: Capital commitments not provided for in respect of contracts remaining to be executed on capital account (Net of Advance) of Rs. Nil (Previous Year Rs. Nil).

Note 27: The company has no outstanding dues to small scale industrial undertakings as on 31st March, 2025 as per information given by the management. This has been relied upon by the auditors.

Note 28 : Earnings and expenses incurred in Foreign currency

During the year the company has neither earned nor incurred any expenses in foreign currency in financial year 2024-25.

Note 29 : Other Disclosures:

a) The Company do not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property.

b) Transaction with struck off companies: The Company does not have any transactions with companies struck- off under Section 248 of the Companies Act, 2013.

c) The Company have not traded or invested in Crypto currency or Virtual Currency during the financial year.

d) The Company have not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding that the Intermediary shall:

(i) Directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Company (Ultimate Beneficiaries) or;

(ii) Provide any guarantee, security or the like to or on behalf of the Ultimate beneficiaries.

e) The Company have not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the Company shall:

(i) Directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or;

(ii) Provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

f) The Company do not have any such transaction which is not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961).

g) The Code on Social Security, 2020 (''Code'') relating to employee benefits during employment and post- employment benefits received Presidential assent in September 2020. The Code has been published in the Gazette of India. However, the date on which the Code will come into effect has not been notified. The company will assess the impact of the Code when it comes into effect and will record any related impact in the period the Code becomes effective.

h) The Company is not declared wilful defaulter by any bank or financial institution or lender during the year.

Note 30: Previous year''s figures have been regrouped / rearranged wherever necessary, so as to make them comparable with those of the current year.

Note 31: Contingent Liability

During the FY 2019-20 the company has received notice from M/s Swami Films entertainment for illegal and unauthorised use and infringement of certain content for an amount of Rs. 2 Crore. The company has replied to the notice and do not foresee any further liability towards the same.

---

Mar 31, 2024

(xiv) Accounting for provisions, contingent liabilities and contingent assets

Provisions are recognized, when there is a present legal or constructive obligation as a result
of past events, where it is probable that there will be outflow of resources to settle the
obligation and when a reliable estimate of the amount of the obligation can be made. Where a
provision is measured using the cash flows estimated to settle the present obligation, its
carrying amount is the present value of those cash flows. Where the effect is material, the
provision is discounted to net present value using an appropriate current market-based pre¬
tax discount rate and the unwinding of the discount is included in finance costs. However,
company has not created any provision during the year and all the known liabilities are
accounted for in the books.

Contingent liabilities are recognized only when there is a possible obligation arising from past
events, due to occurrence or non-occurrence of one or more uncertain future events, not
wholly within the control of the Company, or where any present obligation cannot be
measured in terms of future outflow of resources, or where a reliable estimate of the
obligation cannot be made. Obligations are assessed on an ongoing basis and only those
having a largely probable outflow of resources are provided for. Contingent liability has been
disclosed in the note no. 30 to the financial statement.

Contingent assets are not disclosed in the financial statements unless an inflow of economic
benefits is probable

(xv) Earnings per share

Basic Earnings per share is calculated by dividing the net profit / (loss) for the period
attributable to the equity shareholders by the weighted average number of equity shares
outstanding during the period. The Company did not have any potentially dilutive securities
in any of the year presented.

---

Mar 31, 2015

1. The company has only one class of shares referred to as equity shares having a par value of Rs. 10/- each and holder of equity shares is entitled to one vote per share.

2. During the year company has issued 6,87,300 shares at a premium of Rs. 10 per share.

3. Reconciliation of shares outstanding at the beginning and end of the year

Secured loan from bank is raised against security of the assets which are as follows

4. Property of Director Mr. Ratish Tagde located at Flat No. 72, Building No 6, A wing, Kalpataru Estate is mortgaged against CC limit of 1.69 Cr.

5. All Debtors are Hypothecated against CC Limit

The carrying values of assets/cash generating units , at each balance sheet date are reviewed for impairment, if any indication of impairment exists .If the carrying amount of the assets exceed the estimated recoverable amount , impairment is recognized for such excess amount. The impairment loss is recognised as an expense in the Statement of Profit & Loss a/c. During the year company has recognised contents to the extent of book value of Rs. 16,312,500.

6. Related party Disclosure

1. Relationships

a) Enterprises in which Key Management Personnel have significant Influence

Perfect Octave Private Limited

Perfect Company Advice Private Limited Insync Music Education Pvt.

Ltd Raga Cafe LLP

Valay Foundation (NGO- Trust)

b) Key Management Personnel and their relatives:

Mr. Ratish Tagde - Managing director

Mahesh Tagde - Director Vivek

Salian - Director Bharat Gada - Director

Seema Tagde - Director

Komal Deshmukh-Samant - Company Secretary

Geeta Gada - Relative of Director

Sharad Tagde - Relative of Director

Previous year's figures have been regrouped / rearranged wherever necessary, so as to make them comparable with those of the current year.

7. During the year the company was operational mainly in trading activity of contents .Hence Segment Reporting is not applicable.

8. Expenses in foreign currency: NIL (P.Y. NIL)

Earnings in foreign currency: NIL (P.Y. NIL)

---

Mar 31, 2014

1. Share Capital

(i) The company has only one class of shares referred to as equity shares having a par value of Rs. 10/- each and holder of equity shares is entitled to one vote per share.

2. Share Application Money Pending Allotment

The company shall be allotting shares against the share application money in the ensuing Annual General Meeting.

3. Deferred Tax Assets (net)

The net deferred tax asset is on carry forward losses, the company did not recognize the same because there is no virtual certainty that sufficient taxable income will be available.

4. Secured loan from bank is raised against security of the assets which are as follows

1) Property of Director Mr. Ratish Tagde located at Flat No. 72, Building No 6, A wing, Kalpataru Estate is mortgaged against CC limit of 1.69 Cr.

2) All Debtors are Hypothecated against CC Limit as collateral.

5. Capital Work in Progress

1) The valuation of the fixed assets has been taken, valued and certified by the managing director of the company

2) The company has received contents of Rs. 2,21,39,777 on account of merger with Gandhar Media Limited in FY 2012-13. The same was showed as closing stock in that year. During the current year some contents was selected to air on the new TV channel launched by the company. The management has identified such contents and they are capitalized in the books of accounts as on 31st March, 2014. The value of content capital capitalized amounts to Rs. 1,47,12,500.

3) The management has also selected some closing stock of contents shown in profit & loss account to be aired on its channel. The same is capitalized in the books of accounts as on 31st March, 2014. The value of such contents amounts to Rs. 16,00,000/-.

4) No Depreciation is charged on such assets as it is capitalized on the last day of the year.

6. Changes in inventories of finished goods, work-in progress and stock-in-trade

Note- During the year the company has selected the entire stock of contents for airing on its channel. On account of the same these stock are transferred to fixed assets on 31st March, 2014.

7. Related party Disclosure

1. Relationships

a. Enterprises in which Key Management Personnel have significant Influence:

Perfect Octave Private Limited Perfect Company Advice Private Limited Insync Music Education Pvt. Ltd Raga Cafe LLP Valay Foundation (NGO- Trust)

b. Key Management Personnel and their relatives:

Mr. Ratish Tagde - Managing director Mahesh Tagde - Director Vivek Salian - Director Bharat Gada - Director Komal Deshmukh-Samant - Company Secretary Geeta Gada - Relative of Director Seema Tagde - Relative of Director Sharadchandra Tagde - Relative of Director

8. Previous year''s figures have been regrouped/rearranged wherever necessary, so as to make them comparable with those of the current year.

9. During the year the company was operational mainly in trading activity of contents .Hence Segment Reporting is not applicable.

10. Expenses in foreign currency : NIL (P.Y. NIL)

Earnings in foreign currency : NIL (P.Y. NIL)

---

Mar 31, 2013

Note 1.1 Scheme of Amalgamation

The company during the previous year, pursuant to the scheme of Amalgamation and Arrangement ("the schemes”) under sections 391 to 394 of the Companies Act, 1956 approved by the Hon''ble High Court of respective Judicature, have recorded all necessary accounting effects, along with requisite disclosure in notes to accounts, in accordance with the provisions of the said scheme.

As per the scheme approved by the Honorable High Court for amalgamation of ''Gandhar Media Limited” (Transferor Company) with the "Perfect Octave Media Projects Limited” (Transferee Company) the same has been carried out as provisions mention in the court order. The assets are recorded as per audited balance sheet of Transferor Company as on 18/10/2012 being the effective date of amalgamation. As per the provisions mention in the court order the difference between the consideration and the value of net identified assets acquired is recognised as Goodwill.

Accordingly, on the effective date i.e. 18/10/2012, all assets & liabilities of the Transferor Company have been transferred to the Transferee Company at its Book value.

---

Mar 31, 2012

Company Overview :

Perfect-Octave Media Projects Limited, is engaged in broadcasting, managing events, producing concerts and promotes & manages performers and produces motion pictures and television programming.

---

Mar 31, 2011

1. Information under 4D of Para II, Para 3 and 4 of Part II of Schedule VI of the Companies Act, 1956 are not applicable to the Company.

2. In accordance with the Accounting Standard 22 on "Accounting for Taxes on Income",(AS 22) issued by The Institute of Chartered Accountants of India, Deferred assets and liabilities are recognized for all timing differences in accordance with the said standard. Deferred Tax Asset and Provision for MAT Credit is not recognized as matter of prudence.

3. Directors Remuneration: Salaries Rs. NIL/- (P.Y. Rs. NIL)

4. Balance of Debtors, Creditors, Loan & Advances are subject to confirmation and/or reconciliation/consequential adjustments, if any.

5. The Company has issued equity shares amounting to Rs. 4,39,00,000 during the year.

6. The Company has given advance amounting to Rs. 4,27,00,000/- for purchase of copyright of old songs, T.V. channels.

7. Previous years figures have been re-grouped, re-classified and re-arranged, wherever considered necessary to conform to current years presentation.

---

Mar 31, 2010

1. Information under 4D of Para II, Para 3 and 4 of Part II of Schedule VI of the Companies Act, 1956 are not applicable to the company.

2. In accordance with the Accounting Standard 22 on "Accounting for Taxes on

Income",(AS 22) issued by The Institute of Chartered Accountants of India, Deferred assets and liabilities are recognized for all timing differences in accordance with the said standard. Deferred Tax Asset and Provision for MAT Credit is not recognized as matter of prudence.

3. Directors Remuneration: Salaries Rs. NIL/- (P.Y. Rs. NIL)

4. Balance of Debtors, Creditors, Loan & Advances are subject to confirmation and/or reconciliation/consequential adjustments, if any.

5. Related Party Disclosure

Key Management Personnel: Gopiram Jariwal - Chairman Anand J ariwal-Director

6. Previous years figures have been re-grouped, re-classified and re-arranged, wherever considered necessary to conform to current years presentation.