b. The Company has one class of equity shares having a par value of ? 10/- per share. Each holder of equity share is entitled to same right based on the number of shares held.

^Overdraft from bank includes

a)    A drop line facility for 180 months with a monthly reduction of Rs. 1,22,222/- from the date of loan, viz., 05th March, 2020. The facility is secured by a mortgage of the immovable property of the Company and personal guarantees of the Directors. The Overdraft carries interest at a variable rate of Repo rate with a spread of 4.35% p.a., totaling to 9.50% at the time of sanction.

b)    An Overdraft facility of Rs. 4,92,05,000/- which carries interest at a variable rate of Repo rate with a spread of 3.60% p.a., totaling to 8.50% at the time of sanction, annually renewable from date of disbursment. The facility' is secured by a mortgage of the Immovable Property' of the Director and Relative of Director of the Company and personal guarantees of the Directors and the Relative who is coowner of the property.

** Term Loan facility from bank carries interest at a variable rate of Repo rate with a spread of 4.40% p.a., totaling to 8.40% at the time of sanction and is repayable in 180 monthly installment of Rs. 22,515/- including interest, from 10th July, 2021. The facility is secured by' a mortgage of the residential premises of the Directors at Andheri, Mumbai and personal guarantees of the Directors.

***Vehicle loans from bank includes

a)    Loan carrying interest @ of 10.25% p.a. and is repayable in 60 monthly installment of Rs. 65,470/- including interest, from 5th October, 2021.

b)    Loan carrying interest @ of 8.60% p.a. and is repayable in 60 monthly installment of Rs. 2,06,233/- including interest, from 10th February, 2023.

Vehicle loan is secured by' hypothecation of vehicle acquired against the loan.

Current maturities of term loan form banks and from financial institutions, due and payable within a year are classified as short-term borrowings (Note No. 17)

*The Company has no information as to whether any of its Suppliers constitute Micro, Small or Medium Enterprises and therefore, the claims for suppliers and other related data as per the requirement of Micro, Small and Medium Enterprises Development Act, 2006 could not be ascertained on the basis of information available with the Company. Further in view of the Management, the impact of interest, if any, that may be payable in accordance with the provisions of the Act is not expected to be material. The Company has not received any claim for interest from any supplier as at the balance sheet date. These facts have been relied upon by the auditors.

30. OTHER STATUTORY INFORMATION:

i)    The Company has not revalued its immovable property during the current year. (Previous year - Not applicable).

ii)    The Company has not revalued its property, plant and equipment during the current year or previous year.

.. The Company does not have any benami property and there are no proceeding initiated or pending against the Company for ^u ' holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder.

iv) The Company has no borrowings from bank and financial institution on the basis of security of current assets.

The Company has not been declared wilful defaulter by any bank or financial institution or government or any government authority.

The Company does not have prima facie any transactions with companies which have been struck off. The Company is in the ' process of obtaining positive confirmation from all Companies it transacts with.

Ihe Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period, ’ except Vehicle Loans.

viii) The Company has complied with the number of layers prescribed under the Companies Act, 2013.

There are no Scheme of Arrangements which are either pending or have been approved by the Competent Authority in terms of ' Section 230 to 237 of the Companies Act, 2013 during the current year and previous year.

The Company have not advanced or loaned or invested funds to any other person(s) or entitiy(ies), including foreign entities ' (intermediaries) with the understanding (whether recorded in writing or otherwise) that the intermediary shall:

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

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

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 (Ultimate Beneficiaries) by or on behalf of the Company or

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

... The Company does not have any transactions which are not recorded in the books of accounts that have been surrendered or ' disclosed as income in the tax assessment under the Income Tax Act, 1961 during the current year and previous year.

xiii) The Company has not traded or invested in crypto currency or virtual currency during the current year and previous year.

31. OPERATING SEGMENT INFORMATION

The operations of the Company relate to only one segment viz. Media & Entertainment. The business activities of the Company are confined to India only. Hence no additional disclosures are made as required under Ind AS - 108 on "Operating Segments" issued by the Institute of Chartered Accountants of India.

34. FINANCIAL INSTRUMENT - ACCOUNTING CLASSIFICATION AND FAIR VALUE

The Fair value to be financial assets and liabilities are included at the amount at which the instrument can be exchanged in the current transaction between willing parties, other than in forced or liquidation sale.

The following methods and assumptions were used to estimate fair value:

Fair value of the cash and cash equivalent, short term borrowings and other current financial instruments approximate their carrying amount largely due to short term maturities of these instruments.

35.    GOING CONCERN BASIS

The directors have considered the basis of preparation of the Company's financials statements and after careful assessment have concluded that it continues to be appropriate to prepare these financial statements on a going concern basis.

36.    FOREIGN CURRENCY RISK

Foreign currency risk arises from commercial transaction that recognize assets and liabilities denominated in currency that is not a Company functional currency (INR). The Company is not exposed to significant foreign exchange risk at the respective reporting dates.

37.    CREDIT RISK

Credit risk arises from the possibility that counter party may not be settle their obligations are agreed. The Company is not exposed to significant credit risk at the respective reporting dates.

38.    INTEREST RATE RISK

Interest rate risk is the risk that the fair value or future cash flows of a financial instruments will fluctuate because of changes in market interest rates. Company does not have significant exposure to the risk of changes in market interest rates as Company's debt obligations in a fixed interest rates.

39.    LIQUIDITY RISK

Liquidity risk is defined as the risk that the Company will not be able to settle or meet its obligations on time or at a reasonable price. The Company is not exposed to significant liquidity risk at the respective reporting dates.

40.    PREVIOUS YEAR'S FIGURES

Previous year figures have been regrouped, recast and rearranged wherever necessary so as to make them comparable with those of current year.

41 EMPLOYEE BENEFIT Defined Contribution Plans

Company does not have, nor does it require under any statue to have, any short / long term Defined Contribution Plan tor Employees.

Defined Benefit Plan (Unfunded)

A general description of the Employees Benefit Plan:

The company has an obligation towards gratuity, a unfunded benefit retirement plan covering eligible employees. The plan provides for lump sum payment to vested employees at retirement/death while in employment or on termination of the employment of an amount equivalent to 15 days salary payable for each completed year of service or part thereof in excess of six months. Vesting occurs upon completion of five years of service.

The sensitivity anal', sis have been determined based on reasonably possible changes of the respective assumptions occurring at the end of the reporting period, while holding all other assumptions constant.

The sensitivity analysis presented above may not be representative of the actual change in the defined benefit obligation as it is unlikely that the change in assumptions would occur in isolation of one another as some of the assumptions may be correlated.

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 method as applied in calculating the defined benefit obligation as recognised in the balance sheet

_Notes_

Actuarial Gains/ Losses are accounted for immediately in the Other Comprehensive Income

Salary escalation & attrition rate are considered as advised bv the entity; they appear to be in line with the industry practice considering promotion and demand & supply of the employees

Maturity Analysis of Benefit Payments is undiseounted cashflows considering future salary, attrition & death in respective-year for members as mentioned above.

Average Expected Future Service represents Estimated Term of Benefit Obligation.

_Qualitative Disclosures_

Para 139 (a) Characteristics of defined benefit plan

The entity has a defined benefit gratuity plan in India (unfunded). The entity's defined benefit gratuity plan is a final salary plan for employees.

Gratuity is paid from entity as and when it becomes due and is paid as per entity scheme for Gratuity'

Para 139 (b) Risks associated with defined benefit plan

Gratuity is a defined benefit plan and entity is exposed to the Following Risks:

Interest rate risk: A fall in the discount rate which is linked to the G.Sec. Rate will increase the present value of the liability requiring higher provision.

Salary Risk: The present value of the defined benefit plan liability is calculated by reference to the future salaries of members. As such, an increase in the salary of the members more than assumed level will increase the plan's liability.

Asset Liability Matching Risk: The plan faces the ALM risk as to the matching cash flow. Entity has to manage pay-out based on pay as you go basis from own funds.

Mortality risk: Since the benefits under the plan is not payable for life time and payable till retirement age only, plan does not have any longevity risk.

Para 139 (c) Characteristics of defined benefit plans

During the year, there were no plan amendments, curtailments and settlements.

Para 147 (a)

Gratuity plan is unfunded.

The accompanying notes are an integral part of the financial statements