అకౌంట్స్ గమనికలుSea TV Network Ltd.

Mar 31, 2025

(I) Provisions, Contingent liabilities, Contingent assets and Commitments:

(a) General

The Company recognizes provisions for liabilities and probable losses that have been incurred when it has a present legal or con¬
structive obligation as a result of past events and it is probable that the Company will be required to settle the obligation and a
reliable estimate of the amount of the obligation can be made. If the effect of the time value of money is material, provisions are
discounted using a current pre-tax rate that reflects, where appropriate, the risks specific to the liability. When discounting is used,
the increase in the provision due to the passage of time is recognized as a financing cost.

Contingent liability is disclosed in the case of:

• A present obligation arising from past events, when it is not probable that an outflow of resources will be required to sett le
the obligation

• A present obligation arising from past events, when no reliable estimate is possible:

• A possible obligation arising from past events, unless the probability of outflow of resources is remote.

Provisions, contingent liabilities, contingent assets and commitments are reviewed at each balance sheet date.

Contingent assets are not recognised but are disclosed in financial statement when an inflow of economic benefit is probable.

(b) Other Litigation claims:

Provision for litigation related obligation represents liabilities that are expected to materialise in respect of matters in appeal.

(c) Onerous contracts:

Provisions for onerous contracts are recorded in the statements of operations when it becomes known that the unavoidable costs
of meeting the obligations under the contract exceed the economic benefits expected to be received.

(J) Exceptional Items:

On certain occasions, the size, type or incidence of an item of income or expense, pertaining to the ordinary activities of the com¬
pany is such that its disclosure improves the understanding of the performance of the company, such income or expense is
classified as an exceptional item and accordingly, disclosed in the notes accompanying to the financial statements.

(K) Earnings per share:

Basic Earnings per share is calculated by dividing the profit from continuing operations and total profit, both attributable to equity
shareholders of the Company by the weighted average number of equity shares outstanding during the period. In case there are
any dilutive securities during the period presented, the impact of same is given to arrive at diluted earning per share.

Diluted earnings per share is computed using the net profit for the year attributable to the shareholder'' and weighted average num¬
ber of equity and potential equity shares outstanding during the year including share options, convertible preference shares and
debentures, except where the result would be anti-dilutive. Potential equity shares that are converted during the year are included
in the calculation of diluted earnings per share, from the beginning of the year or date of issuance of such potential equity shares,
to the date of conversion.

(L) Segment accounting:

The company''s business falls within a primary business segment viz .” Satellite Channel and Cable TV Operator, which is the
only segment

(M) Fair value measurement:

The Company measures financial instruments such as derivatives and certain investments, at fair value at each balance sheet da te.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between
market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell
the asset or transfer the liability takes place either:

• In the principal market for the asset or liability. Or

• In the absence of a principal market, in the most advantageous market for the asset or liability The principal or the most
advantageous market must be accessible by the Company.

The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the
asset or liability, assuming that market participants act in their economic best interest.

A fair value measurement of a non- financial asset takes in to account a market participant''s ability to generate economic benefits
by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and
best use. The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are av ail-
able to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs.

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair
value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole;

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

• Level 2- Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indi¬
rectly observable.

• Level 3- Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable

For assets and liabilities that are recognised in the balance sheet on a recurring basis, the Company determines whether transfers
have occurred between levels in the hierarchy by re-assessing categorization (based on the lowest level input that is significant to
the fair value measurement as a whole) at the end of each reporting period.

For the purpose of fair value disclosures, the company has determined classes of assets and liabilities on the basis of the nature,
characteristic risk of the assets or liability and the level of the fair value hierarchy as explained above.

(N) Use of judgements, estimates and assumptions

The preparation of the company''s financial statements required management to make judgements, estimates and assumptions that
affect the reported amount of revenues, expenses, assets and liabilities, and the accompanying disclosures, and the disclosures of
contingent liabilities. Uncertainty about these assumptions and estimates could result in outcomes that require a material adjust¬
ment in the future periods in the carrying amount of assets or liabilities affected.

The following are the key assumptions concerning the future, and other key sources of estimation uncertainty at the end of report¬
ing period that may have significant risk of causing material adjustments to the carrying amounts of assets and liabilities with in :-

a) Useful life of property, plant and equipment and intangible assets:

The company has estimated useful life of the Property, Plant and Equipment as specified in Schedule II to Companies Act 2013,
except for certain items of class of Property, Plant & Equipment where different useful life has been adopted. (Refer Note no. 1
above) However, the actual useful life for individual equipment could turn out to be different, there could be technology changes,
breakdown, unexpected failure leading to impairment or complete discard. Alternately, the equipment may continue to provide
useful service well beyond the useful assumed.

b) Lease: The Company evaluates if an arrangement quality to be a lease as per the requirements of IND AS 116. Identification
of a lease requires significant judgement. The company uses significant judgement in assessing the lease term (including antici¬
pated renewals) and the applicable discount rate.

The Company determines the lease term as the non-cancellable period of lease, together with both periods covered by an option to
extend the lease if the company is reasonably certain to exercise that option and periods covered by an option to terminate the
lease if the company is reasonably certain not to exercise that option. In exercising whether the company is reasonably certain to
exercise an option to extend a lease or to exercise an option to terminate the lease, it considers all relevant facts and circumstances
that create an economic incentive for the company to exercise the option to extend the lease or to exercise the option to
terminate the lease. The company revises lease term, if there is change in non-cancellable period of lease. The discount rate used
is generally base on incremental borrowing rate.

c) Fair value measurement of financial instruments: When the fair values of financial assets and financial liabilities cannot be
measured based on quoted process in active market, the fair value is measured using valuation techniques including book value
and discounted cash flow (DCF) model. The inputs to these models are taken from observable markets where possible, but where
this is not possible, a degree of judgement is required in establishing fair values.

d) Impairment of financial and non-financial assets: The impairment provisions for the financial assets are based on assump¬
tions about risk of default and expected loss rates. The company uses judgement in making these assumptions and selecting the
input for the impairment calculations, based on Company''s past history, existing market conditions, technology, economic devel¬
opments as well as forward looking estimates at the end of each reporting period.

e) Taxes: Taxes have been paid / provided, exemptions availed, allowances considered etc. are based on the extent laws and the
company''s interpretation of the same based on the legal advice received wherever required. These could differ in the view taken
by the authorities, clarifications issued subsequently by the government and court, amendments to statues by the government etc.

f) Defined benefit plans: The cost of defined benefit plans and other post-employment benefits plans and the present value of
such obligations are determined using acturial valuations. An acturial valuation involves making various assumptions that may
differ from actual developments in the future.

g) Provisions: The Company makes provisions for leave encashment and gratuity, based on report received from the independent
actuary. These valuation reports use complex valuation models using not only the inputs provided by the Company but also vari¬
ous other economic variables. Considerable judgement is involved in the process.

h) Contingencies: A provision is recognised when an enterprise has a present obligation as a result of past event and it is probable
that an outflow of resources will be required to settle the obligation in respect of which a reliable estimate can be made. Provisions
are measured at the present value of management''s best estimate of the expenditure required to settle the present obligations at the
end of the reporting period. However, the actual liability could be considerably different.

The aforesaid disclosure is based upon percentages computed separately for class of shares outstanding, as at the balance sheet
date. As per records of the company, including its register of shareholders/members and other declarations received from share¬
holders regarding beneficial interest, the above shareholding represents both legal and beneficial ownerships of shares.

9.1 Terms/rights attached to paid up equity shares

The company has only one class of equity shares having a par value of Rs 10/-. Each holder of equity shares is entitled to one vote
per share. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the
company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by
the shareholders.

9.2 The Company has not alloted any fully paid up equity shares pursuant to contracts without payment being received in cash dur¬
ing the period of five years immediately preceeding the balance sheet date.

*The company has complied with the covenants of terms and conditions of one time settlement sanction letter dated 14.09.2023
and prepaid the balance amount of Rs 646.45 lacs till 19.05.2024

11.2 For non recognition of interest liability please refer note no 30 of the standalone financial statements

11.3 There are no term loans outstanding as at balance sheet date and all securities offered earlier as mortgage with the bank have
been released as per noc letter dated 01.06.2024. Therefore details of securities against term loan are not applicable for the year
ended 31.03.2025. Since term loan existed during previous year the primary and collateral securities as at 31.03.2024 are as un¬
der:

29.During the previous year the loan account of the company comprising of both term loan and working
capital loan from Allahabad Bank (merged with Indian Bank) was declared as non performing asset in finan¬
cial year prior to F.Y. 2023-24. As the company defaulted in repayment of principal and interest thereon as per
terms and conditions of loan agreements. The company had in earlier years submitted proposal to the lender
bank for one time settlement. The settlement proposal submitted by the company on 03.05.2023 was ap¬
proved by said bank on 14.09.2023, in accordance to which the final consolidated liability of bank was settled
at Rs 2600 lacs. The principal and interest outstanding towards said bank as at settlement date amounting to
Rs 6026.01 lacs, accordingly upon reinstating bank liability to Rs 2600 lacs as per settlement reached, bal¬
ance amount of Rs 3426.01 lacs has been considered as derecognition of financial liability in accordance with
Ind AS 109 and since the nature of transaction is of exceptional nature, the entire amount of Rs 3426.01 lacs
has been grouped as exceptional item in statement of profit and loss.

Further to it till 31.03.2024 the company have repaid a sum of Rs 1952.95 lacs to the bank towards the settled liability
and the balance amount of Rs 647.05 lacs has been shown as short term borrowing in note no. 13 to Standalone Finan¬
cial Statements. Further the said amount of Rs 647.05 along with interest is also prepaid by the company till 19.05.2024

30. The Company had accrued interest expense of ?58.15 lakhs on unsecured borrowings during the first three quarters
of the financial year ended 31 March 2025. However, during the quarter ended 31 March 2025, the Company reversed
this previously accrued interest and additionally did not recognize interest expense of ?141.59 lakhs pertaining to the
fourth quarter.

Management has stated that, due to financial constraints, the Company is presently unable to service the interest obliga¬
tions and is considering a restructuring of loan terms. However, as of the reporting date, no formal waiver or amendment
of terms has been executed with the respective lenders.

In our opinion, the reversal of previously recognized interest and the non-recognition of current quarter interest expense
are not in compliance with the principles of Ind AS 109 - Financial Instruments, which requires financial liabilities to be
measured at amortized cost using the effective interest method, irrespective of actual payments, unless contractually
waived.

Had the interest been duly recognized in accordance with Ind AS 109, the finance cost for the year would have been
higher by ?199.74 lakhs, the loss for the year would have increased by the same amount, and current liabilities as at 31
March 2025 would have been higher by ?199.74 lakhs.

31. Going Concern

As at 31 March 2025, the Company''s current liabilities continue to exceed its current assets by ? 2354.11 Lacs and its
net worth remains negative at ? 4,038.23 lakhs (31 March 2024: negative ? 3,715.36 lakhs). During the year, the Com¬
pany''s operating performance remained subdued, with revenue from operations declining further to ? 613.69 lakhs from
? 973.39 lakhs in the previous year.

In the previous financial year, the Company had reached a one-time settlement (OTS) with its lender bank (Allahabad
Bank, merged with Indian Bank) for its non-performing term and working capital loan. The total liability of ? 6,026.01
lakhs was settled at ? 2,600 lakhs, resulting in a derecognition of ? 3,426.01 lakhs as per Ind AS 109.

Additionally, as detailed in Note 30, the Company has unsecured borrowings amounting to ? 2,678.25 lakhs as at the
reporting date. During the year, the Company reversed interest accrued in earlier quarters and did not recognise further
interest expense amounting to ? 199.74 lakhs. In the absence of a formal waiver or revised terms from lenders, this
treatment is not in compliance with Ind AS 109 and indicates continued financial constraints.

These conditions collectively indicate the existence of material uncertainty that may cast significant doubt on the Compa¬
ny''s ability to continue as a going concern. However, the financial statements have been prepared on a going concern
basis, based on management''s assessment that:

¦ The promoters have reiterated their commitment to provide financial support as needed to meet the Company''s
obligations and ensure continuity of operations.

¦ The Company is actively pursuing further restructuring or waiver of the unpaid interest on unsecured loans and
expects a favourable outcome.

(i) Claims filed against the company are as under:-

(1) An appeal is pending by M/s. Pioneer Publicity Corporation Pvt. Ltd since 25.2.2014 against the company and
its Group Company M/s. Sea Print Media & Publication Ltd. and Sea News Network Ltd. before Tees hazari
court of Delhi and proceedings are going on. The case is for bills pending for Rs.4.80 Lacs and interest Rs. 0.58
Lacs. M/s. Pioneer Publicity has raised bills against our associated companies and not in the name of Sea TV
Network Limited, there is no liability of the company, in view of this fact no provision has been made in this re¬
gard.

(2) Two Petitions have been filed on 15.05.2014 by Den Networks Limited against the company claiming placement
fee due for Rs.33.71 Lacs and Rs.112.17 Lacs respectively before TDSAT. The company has filed a counter
claim due to default by Den Networks Limited in adhering to the terms of the MOU; there is no liability of the
company as it has transferred all liabilities by a MOU to Sea News Network Limited, thus requiring no provision
in this regard. At present both petitions are pending before an appellate authority TDSAT for passing of their or¬
der.

(3) Zee Entertainment Enterprises Limited has filed a case against Sea TV Network Ltd. for non-payment of chan¬
nel subscription/license fees of Rs 21.92 lakhs under a distribution agreement, which Company has denied
while contesting the claim. In turn, Company has filed a counter-case against Zee Media Corporation Ltd.
(ZMCL) seeking recovery of Rs 27.04 lakhs for distribution of ZMCL''s channels, alleging non-payment. Both
parties have accused each other of failing to meet their respective payment obligations under separate channel
distribution arrangements, and the matters are currently under litigation with Telecom Dispute Settlement and
Appellate Tribunal, New Delhi..

(4) Discovery Communication India has filed a case against Company before the Telecom Disputes Settlement and
Appellate Tribunal (TDSAT), New Delhi, alleging non-payment of carriage fees of Rs 11.77 lakhs under a chan¬
nel placement agreement. Company has disputed the claim, citing discrepancies in the deal and contending
that Rs 0.35 lakhs is in fact receivable from Discovery. The rejoinder from Discovery is pending, and Company
has not acknowledged the claimed amount as payable, treating it as a disputed liability. The matter is currently
sub judice, thus requiring no provision in this regard.

(5) Star India Pvt. Ltd. has filed a case before the Telecom Disputes Settlement and Appellate Tribunal (TDSAT),
New Delhi, against the Company, claiming unpaid subscription/licensing fees of Rs 21.79 lakhs under a channel
distribution agreement for transmitting Star channels on Company''s platform. Company disputes the claim, cit¬
ing quality issues in the services provided by Star India Pvt. Ltd. that impacted delivery and performance, and
further asserts that Rs18.42 lakhs is receivable from Star India Pvt. Ltd. towards audit fees, incentive dues,
GST, and other taxation-related adjustments, which it maintains offset or exceed the alleged dues. The amount
has been recorded in Company''s accounts as receivable.The matter is currently sub judice, thus requiring no
provision in this regard.

33. Balances of trade receivable, trade payable, loan/advances given and other financial and non financial assets and
liabilities are subject to reconciliation and confirmation from respective parties. The balance of said trade payable,
loan/advances given and other financial and non financial assets and liabilities are taken as shown by the books of ac¬
counts. the ultimate outcome of such reconciliation and confirmation cannot presently be determined, therefore, no provi¬
sion for any liability that may result out of such reconciliation and confirmation has been made in the financial statement,
the financial impact of which is unascertainable due to the reasons as above stated.

34. Deferred tax asset is recognised on unabsorbed depreciation and carry forward losses to the extent it is probable that
future taxable profit will be available against which the deductible temporary differences, unabsorbed depreciation and
carried forward tax losses can be utilised. The Company has tax losses of Rs 3874.39 Lakhs (31st March 2024 Rs

3259.10 Lakhs) comprising business loss of Rs 356.12 Lakhs (31st March 2024 Rs Nil) and depreciation loss of Rs
3518.27 Lakhs (31st March 2024 Rs 3259.10 Lakhs) that are available for offsetting against future taxable profit.

The Company has not recognised deferred tax asset in respect of losses of Rs 3874.39 Lakhs (31st March 2024 Rs

3259.10 Lakhs) as there is no reasonable certainty supported by convincing evidences of their recoverability in the near
future.

35. Defined Benefit Plan- Gratuity

1. Actuarial Assumptions

a) Economic Assumptions

The principal assumptions are the discount rate & salary growth rate. The discount rate is generally based
upon the market yields available on Government bonds at the accounting date relevant to currency of benefit
payments for a term that matches the liabilities. Salary growth rate is company’s long term best estimate as
to salary increases & takes account of inflation, seniority, promotion, business plan, HR policy and other rele¬
vant factors on long term basis as provided in relevant accounting standard. These valuation assumptions are
as follows:

19. Description of Risk Exposures:

Valuations are based on certain assumptions, which are dynamic in nature and vary over time. As
such company is exposed to various risks as follow -

A) Salary Increases- Actual salary increases will increase the Plan’s liability. Increase in salary increase
rate assumption in future valuations will also increase the liability.

B) Investment Risk - If Plan is funded then assets liabilities mismatch & actual investment return on as¬
sets lower than the discount rate assumed at the last valuation date can impact the liability.

C) Discount Rate : Reduction in discount rate in subsequent valuations can increase the plan’s liability.

D) Mortality & disability - Actual deaths & disability cases proving lower or higher than assumed in the val
uation can impact the liabilities.

E) Withdrawals - Actual withdrawals proving higher or lower than assumed withdrawals and change of with
drawal rates at subsequent valuations can impact Plan’s liability.

Leave encashment ( Unfunded)

The valuation of Leave Encashment has been done on the basis of acturial valuation on project¬
ed unit ( PUC) method and is provided in the financial statement and does not require disclosure as
mentioned in Para 158 of IND aS 19

Defined Contribution Plan

Provident Fund - The company contributes Provident Fund ( Employer as well as Employee Share) to
Provident Fund Commissioner Aga ( U.P) and Employers Contribution to such fund is charged to State
ment of Profit and Loss. The Provident fund contribution charged to Statement of Profit and Loss for the
the year ended 31.03.2025 amounted to Rs 37.08 Lacs (P.Y. Rs 38.53 Lacs)

The company activities exposes it to variety at financial risk i.e. Credit Risk , Liquidity Risk , Capital Risk , In¬
terest Rate Risk. These risks are managed by senior management of the company and is supervised by
Board of Directors of the company , to minimise potential adverse effects on the financial performance of the
company.

(i) Credit Risk : Credit risk is the risk i.e a customer or the counter party fails to pay to the company
causing financial loss. The credit risk primarily arises from outstanding receivables from customer
/ franchises. The company has franchise arrangements whereby the business of the company is
expanded through network of franchise dealers. The company has determined provision for Ex¬
pected credit loss (ECL) based on expected credit loss model and the provision amount is ade-
quate.The company is of the opinion that they will recover the debtors outstanding as at
31.03.2025

(ii) LiquidIty & Interest Risk : During the previous year, the Company obtained a one-time settlement
(OTS) sanction from Allahabad Bank for f 2,600.00 lakhs to settle its outstanding term loan and
working capital loan accounts. To meet this settlement obligation, the Company raised unsecured
loans from directors, shareholders, and through inter-corporate deposits, and repaid f 2,600.00
lakhs to the bank towards the settled liability.

The unsecured loans are interest-bearing at a rate of 8% per annum. During the year ended 31
March 2025, the Company did not recognise interest expense amounting to f 199.74 lakhs (com¬
prising accrued interest of f 58.15 lakhs reversed during the year and f 141.59 lakhs not provid¬
ed for the last quarter). Management has stated that due to ongoing financial constraints, the
Company is presently unable to service the interest obligations and is considering restructuring
the loan terms with lenders.

However, as of the reporting date, no formal waiver or amendment of the loan terms has been
executed with the respective lenders. In the absence of such modifications, the non-provision of
interest is not in compliance with Ind AS 109 - Financial Instruments.

(iii) Capital Risk : The Company’s capital risk management objective is to ensure that it continues as
a going concern while safeguarding the interests of its shareholders and other stakeholders.As at
31 March 2025, the Company’s net owned funds remain negative at f 4,038.23 lakhs (Previous
Year: negative f 3,715.36 lakhs). The Company’s total financial debt stands at f 2,678.25 lakhs
(Previous Year: f 2,379.87 lakhs), comprising primarily unsecured loans raised from directors,
shareholders, and inter-corporate deposits.

During the year, the Company successfully settled its outstanding bank borrowings through a
one-time settlement sanctioned by Allahabad Bank for f 2,600.00 lakhs and has repaid a sub¬
stantial portion of this liability before the end of the financial year.

However, the Company has taken substantial unsecured loans which are interest-bearing. Inter¬
est amounting to f 199.74 lakhs has not been provided for during the year as the Company, due
to continuing financial constraints, is currently unable to service its interest obligations and is in
the process of negotiating revised terms with the lenders. As of the reporting date, no formal
waiver or amendment of these terms has been executed with the lenders.Given these factors, the
Company continues to face liquidity and interest rate risks which may have an impact on its capi¬
tal structure and ability to meet its obligations in the near term. Notwithstanding this, the man¬
agement remains confident of improving the financial position through operational improvements,
restructuring of borrowings, and continued support from promoters and related parties.
Accordingly, the management believes that with successful implementation of these measures,
the Company will be able to safeguard the interests of its shareholders and stakeholders, and
strengthen its capital position over time.

(iv) Market Risk: The company looking into the uncertainties in the economic environment, man¬
agement’s impact assessment is subject to significant estimation uncertainties, and accordingly,
the actual results in future may be different from those estimated as at the date of approval of
these financial results. The Company will continue to monitor developments to identify significant
uncertainties in future periods, if any.

(v) Foreign Currency Risk : The company do not normally deal in foreign currency transactions.
The company do not have any foreign currency risk.

None of the non-current assets are located outside India.

None of the customers of the company individually account for 10% or more sale.

41. OTHER STATUTORY INFORMATION

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

(ii) The Company do not have any transactions with companies struck off.

(iii) The Company do not have any charges or satisfaction which is yet to be registered with ROC be¬
yond the statutory period,

(iv) The Company have not traded or invested in Crypto currency or Virtual Currency during the fi¬
nancial year.

(v) The Company have not advanced or loaned or invested funds to any other person(s) or enti-
ty(ies), including foreign entities (Intermediaries) with the understanding that the Intermediary
shall: (a) 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 (b) provide any guarantee,
security or the like to or on behalf of the Ultimate Beneficiaries

(vi) The Company have not received any fund from any person(s) or entity(ies), including foreign enti¬
ties (Funding Party) with the understanding (whether recorded in writing or otherwise) that the
Company shall: (a) 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 (b) provide
any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

(vii) The Company have not any such transaction which is not recorded in the books of account 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.

(viii) The Company has not been declared a wilful defaulter by any bank or financial institution or gov¬
ernment authorities during the year

(ix) During the year there is no scheme or arrangement approved by the competent authority in terms
of section 230 to 237 of Companies Act, 2013.

(x) The Company has no borrowings above 5 crore from banks or financial institutions on the basis
of security of current assets.

42. Audit Trail:

The company has used an accounting software for maintaining its books of accounts for the financial year
ended 31.03.2025, which has a feature of recording audit trail (Edit log) facility and the same has been oper¬
ating for all relevant transactions recorded in the software except that no report was generated for audit trail at
database level. Although the accounting software has inherent limitations, there were no instances of the au¬
dit trail feature being tempered. Additionally, the audit trail has been preserved by the company as per the
statutory requirements for record.

43. Previous years figures have been regrouped, rearranged or reclassified, wherever necessary to confirm
the current year''s classification.

For and on behalf of the Board of Directors

For Doogar & Associates
Chartered Accountants
Firm Reg. No.000561N

CA. Udit Bansal Neeraj Jain Sonal Jain

Partner Director Director

Membership No. 401642 DIN -00576497 DIN-00509807

^Pl^{ace: Agra} Karishma Jain

^{Date :28th May}, ²⁰²⁵ Company Secretary

M. No. 46124

---

Mar 31, 2024

(I) Provisions, Contingent liabilities, Contingent assets and Commitments:

(a) General

The Company recognizes provisions for liabilities and probable losses that have been incurred when it has a present legal or
constructive obligation as a result of past events and it is probable that the Company will be required to settle the obligation and a
reliable estimate of the amount of the obligation can be made. If the effect of the time value of money is material, provisions are
discounted using a current pre-tax rate that reflects, where appropriate, the risks specific to the liability. When discounting is used, the
increase in the provision due to the passage of time is recognized as a financing cost.

Contingent liability is disclosed in the case of:

• A present obligation arising from past events, when it is not probable that an outflow of resources will be required to settle the
obligation:

• A present obligation arising from past events, when no reliable estimate is possible:

• A possible obligation arising from past events, unless the probability of outflow of resources is remote.

Provisions, contingent liabilities, contingent assets and commitments are reviewed at each balance sheet date.

Contingent assets are not recognised but are disclosed in financial statement when an inflow of economic benefit is probable.

(b) Other Litigation claims:

Provision for litigation related obligation represents liabilities that are expected to materialize in respect of matters in appeal.

(c) Onerous contracts:

Provisions for onerous contracts are recorded in the statements of operations when it becomes known that the unavoidable costs of
meeting the obligations under the contract exceed the economic benefits expected to be received.

(J) Exceptional Items:

On certain occasions, the size, type or incidence of an item of income or expense, pertaining to the ordinary activities of the company is
such that its disclosure improves the understanding of the performance of the company, such income or expense is classified as an
exceptional item and accordingly, disclosed in the notes accompanying to the financial statements.

(K) Earnings per share:

Basic Earnings per share is calculated by dividing the profit from continuing operations and total profit, both attributable to equity
shareholders of the Company by the weighted average number of equity shares outstanding during the period. In case there are any
dilutive securities during the period presented, the impact of same is given to arrive at diluted earning per share.

Diluted earnings per share is computed using the net profit for the year attributable to the shareholder'' and weighted average number of
equity and potential equity shares outstanding during the year including share options, convertible preference shares and debentures,
except where the result would be anti-dilutive. Potential equity shares that are converted during the year are included in the calculation
of diluted earnings per share, from the beginning of the year or date of issuance of such potential equity shares, to the date of
conversion.

(L) Segment accounting:

The company''s business falls within a primary business segment viz .” Satellite Channel and Cable TV Operator, which is the only
segment”.

(M) Fair value measurement:

The Company measures financial instruments such as derivatives and certain investments, at fair value at each balance sheet da te.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market
participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or
transfer the liability takes place either:

• In the principal market for the asset or liability.

Or

• In the absence of a principal market, in the most advantageous market for the asset or liability
The principal or the most advantageous market must be accessible by the Company.

The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or
liability, assuming that market participants act in their economic best interest.

A fair value measurement of a non- financial asset takes in to account a market participant''s ability to generate economic benefits by
using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best
use. The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are availab le to
measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs.

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorised within th e fair value
hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole;

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

• Level 2- Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirec tly
observable.

• Level 3- Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable.

For assets and liabilities that are recognised in the balance sheet on a recurring basis, the Company determines whether transfers have
occurred between levels in the hierarchy by re-assessing categorization (based on the lowest level input that is significant to the fair
value measurement as a whole) at the end of each reporting period.

For the purpose of fair value disclosures, the Company has determined classes of assets and liabilities on the basis of the nature,
characteristics and risks of the asset or liability and the level of the fair value hierarchy as explained above.

(N) Use of judgements, estimates and assumptions

The preparation of the company''s financial statements required management to make judgements, estimates and assumptions that
affect the reported amount of revenues, expenses, assets and liabilities, and the accompanying disclosures, and the disclosures of
contingent liabilities. Uncertainly about these assumptions and estimates could result in outcomes that require a material adjustment in
the future periods in the carrying amount of assets or liabilities affected.

The following are the key assumptions concerning the future, and other other key sources of estimation uncertainly at the end of
reporting period that may have significant risk of causing material adjustments to the carrying amounts of assets and liabilities with in :-

a) Useful life of property, plant and equipment and intangible assets: The company has estimated useful life of the Property, Plant
and Equipment as specified in Schedule II to Companies Act 2013, except for certain items of class of Property, Plant & Equipment
where different useful life has been adopted. (Refer Note no.1 above) However, the actual useful life for individual equipments could
turn out to be different, there could be technology changes, breakdown, unexpected failure leading to impairment or complete discard.
Alternately, the equipment may continue to provide useful service well beyond the useful assumed.

b) Lease: The Company evaluates if an arrangement quality to be a lease as per the requirements of IND AS 116. Identification of a
lease requires significant judgement. The company uses significant judgement in assessing the lease term (including anticipated
renewals) and the applicable discount rate.

The Company determines the lease term as the non-cancellable period of lease, together with both periods covered by an option to
extend the lease if the company is reasonably certain to exercise that option and periods covered by an option to terminate the lease if
the company is reasonably certain not to exercise that option. In exercising whether the company is reasonably certain to exercise an
option to extend a lease or to exercise an option to terminate the lease, it considers all relevant facts and circumstances that create an
economic incentive for the company to exercise the option to extend the lease or to exercise the option to terminate the lease. The
company revises lease term, if there is change in non-cancellable period of lease. The discount rate used is generally base on
incremental borrowing rate.

c) Fair value measurement of financial instruments: When the fair values of financial assets and financial liabilities cannot be
measured based on quoted process in active market, the fair value is measured using valuation techniques including book value and
discounted cash flow (DCF) model. The inputs to these models are taken from observable markets where possible, but where this is not
possible, a degree of judgement is required in establishing fair values.

d) Impairment of financial and non-financial assets: The impairment provisions for the financial assets are based on assumptions
about risk of default and expected loss rates. The company uses judgement in making these assumptions and selecting the input for
the impairment calculations, based on Company''s past history, existing market conditions, technology, economic developments as well
as forward looking estimates at the end of each reporting period.

e) Taxes: Taxes have been paid / provided, exemptions availed, allowances considered etc. are based on the extent laws and the
company''s interpretation of the same based on the legal advice received wherever required. These could differ in the view taken by the
authorities, clarifications issued subsequently by the government and court, amendments to statues by the government etc.

f) Defined benefit plans: The cost of defined benefit plans and other post-employment benefits plans and the present value of such
obligations are determined using acturial valuations. An acturial valuation involves making various assumptions that may differ from
actual developments in the future.

g) Provisions: The Company makes provisions for leave encashment and gratuity, based on report received from the independent
actuary. These valuation reports use complex valuation models using not only the inputs provided by the Company but also various
other economic variables. Considerable judgement is involved in the process.

h) Contingencies: A provision is recognised when an enterprise has a present obligation as a result of past event and it is probable
that an outflow of resources will be required to settle the obligation in respect of which a reliable estimate can be made. Provisions are
measured at the present value of management''s best estimate of the expenditure required to settle the present obligations at the end of
the reporting period. However, the actual liability could be considerably different.

The aforesaid disclosure is based upon percentages computed separately for class of shares outstanding, as
at the balance sheet date. As per records of the company, including its register of shareholders/members
and other declarations received from shareholders regarding beneficial interest, the above shareholding rep¬
resents both legal and beneficial ownerships of shares.

9.1Terms/rights attached to paid up equity shares

The company has only one class of equity shares having a par value of Rs 10/-. Each holder of equity
shares is entitled to one vote per share. In the event of liquidation of the Company, the holders of equity
shares will be entitled to receive remaining assets of the company, after distribution of all preferential
amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

9.2 The Company has not alloted any fully paid up equity shares pursuant to contracts without payment being

received in cash during the period of five years immediately preceeding the balance sheet date.

11.2 Nature of Security

Term Loan From Indian Bank (Erstwhile Allahabad bank)

1. Primary Security

Exclusive charge by way of hypothecation on fixed assets/project assets.

2. Collateral Security:

Equitable mortgage of Land and building at Madhav Kunj, Loha Mandi ward, Agra, bearing no.47-B/5, 5-A, 4-A & 4-B. Owner-
M/s Sea TV Network Ltd. valued Rs. 9.34 crores as on 11/01/2013.

Equitable mortgage of house no. 148,Manas Nagar, Loha Mandi ward, Agra. Owner-Neeraj Jain & Pankaj Jain valued Rs.
3.15 crores as 11/01/2013.

Equitable mortgage of residental plot at Prem Puri, Mauza Baroli Ahir, Tajganj, Agra, bearing no.50. Owner- Pankaj Jain. val¬
ued Rs. 0.17 crores as on 11/01/2013.

Equitable mortgage of residental plot at Prem Puri, Mauza Baroli Ahir, Tajganj, Agra, bearing no.43. Owner- Pankaj Jain. val¬
ued Rs. 0.12 crores as on 11/01/2013.

Equitable mortgage of Commercial plot at Prem Puri, Mauza Baroli Ahir, Tajganj, Agra, bearing Kh.no.860. Owner- Sea TV
Network Limited. valued Rs. 0.65 crores as on 11/01/2013.

Equitable mortgage of residental plot at Gayatri City, Mauza Lakhanpur, Lohamandi Ward, Agra, bearing no.A-12. Owner-
Neeraj Jain. valued Rs. 0.46 crores as on 11/01/2013.

Equitable mortgage of residental plot at Gayatri City, Mauza Lakhanpur, Lohamandi Ward, Agra, bearing no.A-1. Owner-
Neeraj Jain. valued Rs. 0.46 crores as on 11/01/2013.

Equitable mortgage of commercial plot at Pushp Puneet Villa, Mauza Bhogipura, Shahganj, Agra, bearing Shop no.38. Owner-
Sea TV Network Limited. valued Rs. 0.18 crores as on 11/01/2013.

Equitable mortgage of commercial plot at Pushp Puneet Villa, Mauza Bhogipura, Shahganj, Agra, bearing Shop no.32. Owner-
Sea TV Network Limited. valued Rs. 0.18 crores as on 11/01/2013.

Pledged of 3605320 Shares of Sea TV Network Limited in the name of Mr.Neeraj Jain-CMD (exclusive for our Bank)

Residential Flat No.218, Pushp Puneet Villa, Maruti Estate Crossing, Shahganj, Bodla Road, Agra Owner-Sea Tv Network
Limited valued Rs. 0.50 crores

Residential Flat No.403, Pushp Puneet Villa, Maruti Estate Crossing, Shahganj, Bodla Road, Agra Owner-Sea Tv Network
Limited valued Rs. 0.30 crores

Residential Flat No.408, Pushp Puneet Villa, Maruti Estate Crossing, Shahganj, Bodla Road, Agra Owner-Sea Tv Network
Limited valued Rs. 0.30 crores

Residential Flat No.401, Pushpanjali Seasons, Phase-I, Block D-2, C Tower, Jaganpur, Dayal Bagh, Agra Owner-Sea Tv Net¬
work Limited valued Rs. 0.65 crores

Residential Flat No.403, Pushpanjali Seasons, Phase-I, Block D-2, C Tower, Jaganpur, Dayal Bagh, Agra Owner-Sea Tv Net¬
work Limited valued Rs. 0.65 crores

Residential Flat No.404, Pushpanjali Seasons, Phase-I, Block D-2, C Tower, Jaganpur, Dayal Bagh, Agra Owner-Sea Tv Net¬
work Limited valued Rs. 0.65 crores

Residential Plot No.226, Pushpanjali Orchids (Pushpanjali Kings Street), Mauza Rajrai, Agra Owner-Sea Tv Network Limited

Residential Plot No.163, Pushpanjali Orchids (Pushpanjali Kings Street), Mauza Rajrai, Agra Owner-Sea Tv Network Limited

Residential Plot No.241, Pushpanjali Orchids (Pushpanjali Kings Street), Mauza Rajrai, Agra Owner-Sea Tv Network Limited

Pledge of 30% shares of its subsidiary companies : 1. Pledge of 4035000 shares of M/s Sea News Network Limited in the

name of M/s Sea TV Network Limited@face value of Rs.10.00 per share. 2. Pledge of 2685000 Shares of M/s Jain Telemedia
Services Limited@face value of Rs.10.00 per share.

Residential Flat No.204, Gayatri Retreat, Tower No.B-2, Ist Floor ,Taj Nagri, Phase-II, Agra Owner-Jain Telemedia Services
Limited valued Rs. 0.36 crores

11.3 The securities offered to Allahabad Bank ( since merged with Indian Bank) in earlier years are still been carried and would be
released upon final payment of outstanding one time settlement amount which is not yet due as at balance sheet date.

13.1 The loan account of the company comprising of both term loan and working capital loan from Allahabad Bank (merged
with Indian Bank) was declared as non performing asset in financial year prior to F.Y. 2023-24. As the company defaulted
in repayment of principle and interest thereon as per terms and conditionsof loan agreements. The company had in earlier
years submitted proposal to the lender bank for one time settlement. The settlement proposal submitted by the company
on 03.05.2023 was approved by said bank on 14.09.2023, in accordance to which the final consolidated liability of bank
was settled at Rs 2600 lacs. The principal and interest outstanding towards said bank as at settlement date amounting to
Rs 6026.01 lacs. Accordingly a sum of Rs 2600 lacs has been recorded as liability as at date of settlement and amount of
Rs 647.05 lacs (net of Rs 1952.95 lacs paid from the date of settlement till 31.03.2024) has been classified as current ma¬
turities and grouped in short term borrowings.

13.2 Nature of Security

Term Loan From Indian Bank (Erstwhile Allahabad bank)

1. Primary Security

Exclusive charge by way of hypothecation on fixed assets/project assets.

2. Collateral Security:

Equitable mortgage of Land and building at Madhav Kunj, Loha Mandi ward, Agra, bearing no.47-B/5, 5-A, 4-A & 4-B. Owner-
M/s Sea TV Network Ltd. valued Rs. 9.34 crores as on 11/01/2013.

Equitable mortgage of house no. 148,Manas Nagar, Loha Mandi ward, Agra. Owner-Neeraj Jain & Pankaj Jain valued Rs.
3.15 crores as 11/01/2013.

Equitable mortgage of residental plot at Prem Puri, Mauza Baroli Ahir, Tajganj, Agra, bearing no.50. Owner- Pankaj Jain. val¬
ued Rs. 0.17 crores as on 11/01/2013.

Equitable mortgage of residental plot at Prem Puri, Mauza Baroli Ahir, Tajganj, Agra, bearing no.43. Owner- Pankaj Jain. val¬
ued Rs. 0.12 crores as on 11/01/2013.

Equitable mortgage of Commercial plot at Prem Puri, Mauza Baroli Ahir, Tajganj, Agra, bearing Kh.no.860. Owner- Sea TV
Network Limited. valued Rs. 0.65 crores as on 11/01/2013.

Equitable mortgage of residental plot at Gayatri City, Mauza Lakhanpur, Lohamandi Ward, Agra, bearing no.A-12. Owner-
Neeraj Jain. valued Rs. 0.46 crores as on 11/01/2013.

Equitable mortgage of residental plot at Gayatri City, Mauza Lakhanpur, Lohamandi Ward, Agra, bearing no.A-1. Owner-
Neeraj Jain. valued Rs. 0.46 crores as on 11/01/2013.

Equitable mortgage of commercial plot at Pushp Puneet Villa, Mauza Bhogipura, Shahganj, Agra, bearing Shop no.38. Owner-
Sea TV Network Limited. valued Rs. 0.18 crores as on 11/01/2013.

Equitable mortgage of commercial plot at Pushp Puneet Villa, Mauza Bhogipura, Shahganj, Agra, bearing Shop no.32. Owner-
Sea TV Network Limited. valued Rs. 0.18 crores as on 11/01/2013.

Pledged of 3605320 Shares of Sea TV Network Limited in the name of Mr.Neeraj Jain-CMD (exclusive for our Bank)

Residential Flat No.218, Pushp Puneet Villa, Maruti Estate Crossing, Shahganj, Bodla Road, Agra Owner-Sea Tv Network
Limited valued Rs. 0.50 crores

Residential Flat No.403, Pushp Puneet Villa, Maruti Estate Crossing, Shahganj, Bodla Road, Agra Owner-Sea Tv Network
Limited valued Rs. 0.30 crores

Residential Flat No.408, Pushp Puneet Villa, Maruti Estate Crossing, Shahganj, Bodla Road, Agra Owner-Sea Tv Network
Limited valued Rs. 0.30 crores

28.1 The loan account of the company comprising of both term loan and working capital loan from Allahabad Bank (merged with

Indian Bank) was declared as non performing asset in financial year prior to F.Y. 2023-24. As the company defaulted in
repayment of principal and interest thereon as per terms and conditionsof loan agreements. The company had in earlier years
submitted proposal to the lender bank for one time settlement. The settlement proposal submitted by the company on

03.05.2023 was approved by said bank on 14.09.2023, in accordance to which the final consolidated liability of bank was set¬
tled at Rs 2600 lacs. The principal and interest outstanding towards said bank as at settlement date amounting to Rs 6026.01
lacs, accordingly upon reinstating bank liability to Rs 2600 lacs as per settlement reached, balance amount of Rs 3426.01 lacs
has been considered as derecognition of financial liability in accordance with Ind AS 109 and since the nature of transaction
is of exceptional nature, the entire amount of Rs 3426.01 lacs has been grouped as exceptional item in statement of profit and
loss.

Further to it till 31.03.2024 the company have repaid a sum of Rs 647.05 lacs to the bank towards the settled liability and the
balance amount of Rs 1952.95 lacs has been shown as short term borrowing in note no. 13 to Standalone Balance Sheet.

29. Going Concern

As at 31.03.2024 the current liabilities of the company exceeds its current assets by Rs 2920.53 lacs and net worth of the
company is negative by Rs 3715.36 lacs. During the year under review the company had been able to get its known liabilities
settled which is also been mostly paid. The management of the company is of the opinion that now with practically very re¬
duced liability of the banks, the business would expand and there seems no uncertainty which may caste significant doubt on
the ability of the company to continue as a going concern. Accordingly the financial statements of the company for the F.Y.

31.03.2024 have been prepared on the going concern basis.

i. Claims filed against the company are as under:-

(1) An appeal is pending by M/s. Pioneer Publicity Corporation Pvt. Ltd since 25.2.2014 against the company and its
Group Company M/s. Sea Print Media & Publication Ltd. and Sea News Network Ltd. before Tees hazari court of
Delhi and proceedings are going on. The case is for bills pending for Rs.4.80 Lacs and interest Rs. 0.58 Lacs. M/s.
Pioneer Publicity has raised bills against our associated companies and not in the name of Sea TV Network Limited,
there is no liability of the company, in view of this fact no provision has been made in this regard.

(2) Two Petitions have been filed on 15.05.2014 by Den Networks Limited against the company claiming placement fee
due for Rs.33.71 Lacs and Rs.112.17 Lacs respectively before TDSAT. The company has filed a counter claim due to
default by Den Networks Limited in adhering to the terms of the MOU; there is no liability of the company as it has
transferred all liabilities by a MOU to Sea News Network Limited, thus requiring no provision in this regard. At present
both petitions are pending before an appellate authority TDSAT for passing of their order.

**Based on solicitor''s legal opinion taken by the company and considering the stay order on Entertainment tax in the
Allahabad High Court Lucknow bench, the company does not expect any liability against these matters and hence no
provision has been considered in the books of accounts. Company has filed an appeal before Allahabad High Court,
Lucknow Bench in the month of April, 2017 for recalling the order of dismissal by the court.

31. Balances of trade receivable, trade payable, loan/advances given and other financial and non financial assets and
liabilities are subject to reconciliation and confirmation from respective parties. The balance of said trade payable,
loan/advances given and other financial and non financial assets and liabilities are taken as shown by the books of
accounts. the ultimate outcome of such reconciliation and confirmation cannot presently be determined, therefore, no
provision for any liability that may result out of such reconciliation and confirmation has been made in the financial
statement, the financial impact of which is unascertainable due to the reasons as above stated.

32. Deferred Tax Assets have not been recognized since there is no virtual certainity that sufficient taxable profits
will be available in future against which such deferred tax assets can be utilized.

(19) Description of Risk Exposures:

Valuations are based on certain assumptions, which are dynamic in nature and vary over time. As such company is
exposed to various risks as follow -

A) Salary Increases- Actual salary increases will increase the Plan''s liability. Increase in salary increase rate assump¬
tion in future valuations will also increase the liability.

B) Investment Risk - If Plan is funded then assets liabilities mismatch & actual investment return on assets lower than
the discount rate assumed at the last valuation date can impact the liability.

C) Discount Rate : Reduction in discount rate in subsequent valuations can increase the plan''s liability.

D) Mortality & disability - Actual deaths & disability cases proving lower or higher than assumed in the valuation can
impact the liabilities.

E) Withdrawals - Actual withdrawals proving higher or lower than assumed withdrawals and change of withdrawal
rates at subsequent valuations can impact Plan''s liability.

Leave encashment ( Unfunded)

The valuation of Leave Encashment has been done on the basis of acturial valuation on projected unit ( PUC) method
and is provided in the financial statement and does not require disclosure as mentioned in Para 158 of IND AS 19

Defined Contribution Plan

Provident Fund - The company contributes Provident Fund ( Employer as well as Employee Share) to Provident Fund
Commissioner Aga ( U.P) and Employers Contribution to such fund is charged to Statement of Profit and Loss. The
Provident fund contribution charged to Statement of Profit and Loss for the the year ended 31.03.2024 amounted to
Rs 38.53 Lacs (P.Y. Rs 28.22 Lacs)

35. Financial Risk Management

The company activities exposes it to variety at financial risk i.e. Credit Risk , Liquidity Risk , Capital Risk , Interest Rate Risk.
These risks are managed by senior management of the company and is supervised by Board of Directors of the company , to
minimise potential adverse effects on the financial performance of the company.

i. Credit Risk : Credit risk is the risk i.e a customer or the counter party fails to pay to the company causing financial
loss. The credit risk primarily arises from outstanding receivables from customer / franchises. The company has fran¬
chise arrangements whereby the business of the company is expanded through network of franchise dealers. The
company has determined provision for Expected credit loss (ECL) based on expected credit loss model and the pro¬
vision amount is adequate.The company is of the opinion that they will recover the debtors outstanding as at
31.03.2024

ii. Liquidity & Interest Risk : The company got one time settlement sanctioned from Allahabad Bank for Rs 2600.00 lacs
during the year and the company borrowed unsecured loans from director /shareholders and inter corporate loan and
repaid Rs 1952.95 lacs to bank towards settlement liability. The unsecured loan taken are non interest being as the
unsecured loan taken from inter corporate deposits/directors/shareholders and are non interest bearing, the company
do not forsee any liquidity and interest risk in future.

iii. Capital Risk : The company capital risk management objective is to ensure that all times its remains a going concern
and safegurds the interest of the shareholders and other stakeholders. The company has negative net owned funds
of Rs 3715.36 Lacs (P.Y. Rs 6750.01 Lacs) with Rs 2379.87 Lacs (P.Y. Rs 6476.39 Lacs) as financial debt. Now
since the company has been able to settle its liabilities towards bank and has also repaid sizeable chunk before the
end of the financial year, the company is quite hopeful that it would turn around in existing financial year and would
safeguard the interest of all shareholders and stakeholders, accordingly the company do not foresee any type of capi¬
tal risk in the future.

39.OTHER STATUTORY INFORMATION

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

ii) The Company do not have any transactions with companies struck off.

iii) The Company do not have any charges or satisfaction which is yet to be registered with ROC beyond
the statutory period,

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

v) 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: (a) 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 (b) provide any
guarantee, security or the like to or on behalf of the Ultimate Beneficiaries

vi) 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: (a) 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 (b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

vii) The Company have not any such transaction which is not recorded in the books of account that has been surrendered or dis¬
closed as income during the year in the tax assessments under the

viii) The Company has not been declared a wilful defaulter by any bank or financial institution or government authorities during
the year

ix) During the year there is no scheme or arrangement approved by the competent authority in terms of section 230 to 237 of
Companies Act, 2013.

x) The Company has no borrowings above 5 crore from banks or financial institutions on the basis of security of current assets.

40. Audit Trail:

The company has used an accounting software for maintaining its books of accounts for the financial year ended 31.03.2024,
which has a feature of recording audit trail (Edit log) facility and the same has been operating for all relevant transactions
recorded in the software except that no report was generated for audit trail at database level. Although the accounting soft¬
ware has inherent limitations, there were no instances of the audit trail feature being tempered.

41. Previous years figures have been regrouped, rearranged or reclassified, wherever necessary to confirm the current year''s
classification.

As per our report of even date attached

For Doogar & Associates For and on behalf of the Board of Directors

Chartered Accountants
Firm Reg. No.000561N

CA. Udit Bansal Neeraj Jain Sonal Jain

Partner Director Director

Membership No. 401642 DIN -00576497 DIN-00509807

Karishma Jain Anurag Jain

Place : Agra Company Secretary CFO

Date :15th May, 2024 M.No. 46124 M.No. 415577

---

Mar 31, 2013

Ab) AS - 28 Impairment of assets

The carrying amounts of assets are reviewed at each Balance Sheet date to determine whether there is any indication of impairment. If any indications exist, the recoverable amount is estimated. An impairment loss is recognized wherever the carrying amount of an asset exceeds its recoverable amount.

ac) AS - 29 Provisions, contingent liabilities and contingent assets

i) Provision are recognized for liabilities that can be measured only by using a substantial degree of Estimation if

a) The company has a present obligation as a result of past event,

b) A probable outflow of resources is expected to settle the obligation and

c) The amount of obligation can be reliably estimated.

Reimbursements expected in respect of expenditure required to settle a provision is recognized only when it is virtually certain that the reimbursement will be received.

ii) Contingent Liability is disclosed in the case of

(a) A present obligation arising from the past event, when it is not probable that an outflow of resources will be required to settle the obligation.

(b) A possible obligation, of which the probability of outflow of resources is remote. Provisions, Contingent Liabilities and Contingent Assets are reviewed at each Balance Sheet date Contingent Assets are neither recognized nor disclosed.

iii) Contingent Liabilities are detailed in note no. 11 to notes on accounts.

1. Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the results of operations during the reporting period. Although these estimates are bases upon management''s best knowledge of current events and actions, actual results could differ from these estimates.

2. Acquisition/Subscription

3. Sundry Debtors

Service Tax receivable from sundry debtors has been reduced from total sundry debtors in proportion to the periodical outstanding.

4. Short term loan accounts & advances, Short term creditors have been classified in view of management opinion that these assets and liabilities will be realised /paid with in the period of one year from the date of balance sheet though in some cases old litigations are pending but expected to be completely closed with in twelve months.

5. Income received in advance has been properly considered while preparing financial statements.

Disclosure on the basis of information available with the company, under Micro, small and Medium Enterprises Development Act, 2006 :

There are no micro, small and medium enterprises, as defined in the micro, small, medium enterprises development act, 2006, to whom the company owes dues.

This information has been determined to the extent such parties have been identified on the basis of information available with the Company. This has been relied upon by the auditors

6. Contingent liability not provided for:

Particulars Year Ended on Year Ended on

31 March 2013 31 March 2012

On counter guarantee given to banks 24,20,000.00 24,20,000.00

On letter of credits NIL 1,40,00,000.00

On bills discounted and purchased NIL NIL

On capital commitments towards capital expenditure NIL NIL

7. The previous year figures have been regrouped/restated wherever necessary to make them comparable with current year''s figures.

Signature to notes 01 to 23 referred to above which form part of Balance Sheet, Profit and Loss account and Cash Flow Statement.

---

Mar 31, 2012

(i) Trade mark

i. Esteemed useful life 10 Year

ii. Amortization rates used 10% each year as depreciation

aa) AS - 1 Capital commitments of reporting entity in joint venture

Not applicable

ab) AS - 2 Impairment of assets

The carrying amounts of assets are reviewed at each Balance Sheet date to determine whether there is any indication of impairment. If any indications exist, the recoverable amount is estimated. An impairment loss is recognized wherever the carrying amount of an asset exceeds its recoverable amount.

ac) AS - 3 Provisions, contingent liabilities and contingent assets

i) Provision are recognized for liabilities that can be measured only by using a substantial degree of estimation, if

a) The company has a present obligation as a result of past event,

b) A probable outflow of resources is expected to settle the obligation and

c) The amount of obligation can be reliably estimated.

Reimbursements expected in respect of expenditure requited to settle a provision is recognised only when it is virtually certain that the reimbursement will be received.

ii) Contingent Liability is disclosed in the case of

a) A present obligation arising from the past event, when it is not probable that an outflow of resources will be required to settle the obligation.

b) A possible obligation, of which the probability of outflow of resources is remote.

Provisions, Contingent Liabilities and Contingent Assets are reviewed at each Balance Sheet date. Contingent Assets are neither recognized nor disclosed.

iii) Contingent Liabilities are detailed in note no. 11 to notes on accounts

4. Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the results of operations during the reporting period. Although these estimates are bases upon management's best knowledge of current events and actions, actual results could differ from these estimates

5. Acquisition/Subscription

a) During the year the company subscribed to 4500000 equity shares for a total consideration of Rs. 450 lacs in its wholly owned subsidiary Sea News Network limited.

(b) During the year the company subscribed to 4500000 equity shares for a total consideration of Rs. 450 lacs in its wholly owned subsidiary Jain Telemedia Service Limited.

6. Sundry Debtors

Service Tax receivable from sundry debtors has been reduced from total sundry debtors in proportion to the periodical outstanding.

7. Sundry debtors: Short term loan accounts & advances, Short term creditors have been classified in view of management opinion that these assets and liabilities will be realized/paid within the period of one year from the date of balance sheet though in some cases old litigations are pending but expected to be completely closed within twelve months.

8. Contingent liability not provided for:

Particulars Year Ended on Year Ended on 31st March, 2012 31st March, 2011

On counter guarantee given to banks 24,20,000.00 24,20,200.00

On letter of credits 1,40,00,000.00 0.00

On bills discounted and purchased NIL 0.00

On capital commitments towards capital expenditure NIL NIL

9. The previous year figures have been regrouped/restated wherever necessary to make them comparable with current year's figures.

Signature to notes 01 to 21 referred to above which form part of Balance Sheet, Profit and Loss account and Cash Flow Statement.