II) Financial Liabilities
a Initial Recognition and Measurement
All Financial Liabilities are recognized at fair value and in case of borrowings, net of directly attributable cost,
Fee of recurring nature are directly recognized in the Statement of Profit and Loss as finance cost.
b For trade and other payables maturing within one year from the balance sheet date, the carrying amounts
approximate fair value due to the short maturity of these instruments.
1.11 Taxes on Income
Tax expense comprises both current and deferred taxes. Current Tax provision as per Income Tax Act, 1961, is made
based on the tax liability computed after considering tax allowances and exemptions at the balance sheet date.
Deferred income taxes reflect the impact of current year timing differences between taxable income and accounting
income for the year and reversal of timing differences of earlier years. Deferred tax is measured based on the tax rates
and the tax laws enacted or substantively enacted at the balance sheet date.
Deferred tax asset is recognized only to the extent that there is reasonable certainty that sufficient future taxable income
will be available against which such deferred tax assets can be realized. Deferred tax assets are recognized on carry
forward of unabsorbed depreciation and tax losses only if there is virtual certainty that such deferred tax assets can be
realized against future taxable profits.
The carrying amount of Deferred Tax Assets are reviewed at each balance sheet date and written down or written up, to
reflect the amount that is reasonably / virtually certain, as the case may be, to be realized.
1.12 Earning Per Share
Basic earnings per share is calculated by dividing the net profit or loss for the period attributable to equity shareholders by
the weighted average number of equity shares outstanding during the period. For the purpose of calculation diluted
earnings per share, the net profit or loss for the period attributable to equity shareholders and weighted average number
of shares outstanding during the period is adjusted for the effects of all dilutive potential equity shares.
1.13 Impairment of Assets
The carrying values of assets / cash generating units at each Balance Sheet date are reviewed for impairment. If any
indication of impairment exists, the recoverable amount of such assets is estimated and impairment is recognised, if the
carrying amount of these assets exceeds their recoverable amount. The recoverable amount is the greater of the net
selling price and their value in use. Value in use is arrived at by discounting the future cash flows to their present value
based on an appropriate discount factor.
21 Employee Benefits Plan
Defined Benefit Plan
Employees gratuity and leave encashment scheme is defined benefit plan. The present value of obligation is determined
based on actuarial valuation using projected unit credit method which recognised each period of service as giving rise to
additional need of employee benefit entitlement and measures each unit seperately to build up the final obligation.
26 Additional regulatory information required by Schedule III
(i) Details of benami property held
There are no proceedings that have been initiated or pending against the Company for holding any benami
property under the Prohibition of Benami Property Transactions Act, 1988 (as amended from time to time) (earlier
Benami Transactions (Prohibition) Act, 1988) and the rules made thereunder.
(ii) Borrowing secured against current assets
The Company have not taken any loan from any bank or financial institution or government.
(iii) Willful defaulter
The Company have not been declared willful defaulter by any bank or financial institution or government or any
government authority.
(iv) Relationship with struck off companies
The Company has no transactions with the companies struck off under Companies Act, 2013 or Companies Act,
1956.
(v) Compliance with number of layers of companies
The Company has complied with the number of layers prescribed under the Companies Act, 2013.
(vi) Compliance with approved scheme of arrangements
The Company has not entered into any scheme of arrangement which has an accounting impact on current or
previous financial year.
(vii) Utilisation of borrowed funds and share premium
The Company has 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)
orb. provide any guarantee, security or the like to or on behalf of the ultimate beneficiariesThe Company has 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)
orb. provide any guarantee, security or the like on behalf of the ultimate beneficiaries"
(viii) Undisclosed income
There is no income surrendered or disclosed as income during the current or previous year in the tax assessments
under the Income Tax Act, 1961, that has not been recorded in the books of account.
(ix) Details of crypto currency or virtual currency
The Company has not traded or invested in crypto currency or virtual currency during the current or previous year.
(x) Valuation of PP&E, intangible asset and investment property
The Company has not revalued its property, plant and equipment (including right-of-use assets) or intangible assets
or both during the current or previous year.
(xi) Registration of charges or satisfaction with Registrar of Companies
There are no charges or satisfaction which are yet to be registered with the Registrar of Companies beyond the
statutory period.
(xii) Utilisation of borrowings availed from banks and financial institutions
The Company have not taken any loan from any bank or financial institution.
29 The Code on Social Security, 2020 ('Code') relating to employee benefits during employment and postemployment
received Indian Parliament approval and Presidential assent in September 2020. The Code has been published in the
Gazette of India and subsequently on November 13, 2020 draft rules were published and invited for stakeholder's
suggestions. 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.
27 Financial Risk Management
The Company's business activities are exposed to a variety of financial risks, namely liquidity risk, market risks and credit risk.
The Company's senior management has the overall responsibility for establishing and governing the Company's risk
management framework. The Company has constituted a core Management Committee, which is responsible for
developing and monitoring the Company's risk management policies. The Company's risk management policies are
established to identify and analyse the risks faced by the Company, to set and monitor appropriate risk limits and controls,
periodically review the changes in market conditions and reflect the changes in the policy accordingly. The key risks and
mitigating actions are also placed before the Audit Committee of the Company.
A) Liquidity risk
Liquidity risk is the risk that the Company will face in meeting its obligations associated with its financial liabilities.The
Company's approach in managing liquidity is to ensure that it will have sufficient funds to meet its liabilities when due
without incurring unacceptable losses.
The Company maintained a cautious liquidity strategy, with a positive cash balance throughout the year ended 31st
March, 2025 . Cash flow from operating activities provides the funds to service the financial liabilities on a day-to-day
basis. The Company regularly monitors the rolling forecasts to ensure it has sufficient cash on an on-going basis to
meet operational needs. Any short term surplus cash generated, over and above the amount required for working
capital management and other operational requirements, is retained as cash and cash equivalents (to the extent
required) and any excess is invested in interest bearing term deposits and other highly marketable debt investments
with appropriate maturities to optimise the cash returns on investments while ensuring sufficient liquidity to meet its
liabilities.
B) Market Risk
Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes
in market prices. Market risk comprises three types of risk: interest rate risk, currency risk and other price risk. Financial
instruments affected by market risk include loans and borrowings and deposits.
Interest Rate Risk
Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of
changes in market interest rates. This risk exist mainly on account of borrowings of the Company. However, all these
borrowings are at fixed interest rate and hence the exposure to change in interest rate is insignificant.
Foreign Currency Risk
Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes
in foreign exchange rates. The Company is not exposed to significant foreign currency risk as at the respective
reporting dates.
C) Credit Risk
Credit risk is the risk that counterparty will not meet its obligations under a financial instrument or customer contract,
leading to a financial loss. The Company is exposed to credit risk from its operating activities (primarily trade
receivables) and other financial assets.
I) Trade Receivables
Customer credit risk is managed by each business unit subject to the Company's established policy,
procedures and control relating to customer credit risk management. An impairment analysis is performed
at each reporting date on an individual basis for major trade receivables.
II) Other Financial Assets
Credit risk from balances with banks and financial institutions is managed by the Company in accordance
with the Company's policy.
D) Excessive Risk Concentration
Concentrations arise when a number of counterparties are engaged in similar business activities, or activities in the
same geographical region, or have economic features that would cause their ability to meet contractual
obligations to be similarly affected by changes in economic, political or other conditions. Concentrations indicate
the relative sensitivity of the Company's performance to developments affecting a particular industry.
In order to avoid excessive concentrations of risk, the Company's policies and procedures include specific
guidelines to focus on the maintenance of a diversified portfolio. Identified concentrations of credit risks are
controlled and managed accordingly.
29 The Company has gradually undertaken the ground event, however, the company's current liability are 5.03 times of
current assets and the company is not able to service its debt obligation. These facts indicate material uncertainty with
respect to company's ability to continue as going concern unless company is able to generate cash flows from operating
activities and raising of sufficient long term funds.
30 SAB Events & Governance Now Media Limited (“SAB Events”) alongwith Marvel Media Private Limited (“Marvel Media”), Mr.
Ravi Adhikari (in personal capacity) and Mr. Kailasnath Adhikari (in personal capacity), had jointly submitted a resolution
plan in the corporate insolvency resolution process of Sri Adhikari Brothers Television Network Limited (“Corporate Debtor”).
On October 12, 2022, the committee of creditors of the Corporate Debtor has by a vote of 93.50% approved the said
resolution plan and has been declared them as successful resolution applicants The said resolution plan has been
approved by Hon'ble National Company Law Tribunal (NCLT), Mumbai bench, through its order dated December 8, 2023.
31 Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's
classification / disclosure.
As per our report on even date
For P.Parikh & Associates For and on behalf of the Board of Directors
Chartered Accountants
FRN : 107564W
Ravi Adhikari Kailasnath Adhikari
CA Gautam Sanghvi Chairman Managing Director
Partner DIN:02715055 DIN : 07009389
M.No : 155700
Suresh Satpute
Place: Mumbai Chief Finacial Officer
Date: 29th May, 2025
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