Global Indices

Loading....

Forex

Loading....

SEA TV NETWORK LTD.

21 April 2025 | 12:00

Industry >> Entertainment & Media

Select Another Company

ISIN No	INE351L01016	BSE Code / NSE Code	533268 / SEATV	Book Value (Rs.)	-33.31	Face Value	10.00
Bookclosure	30/09/2024	52Week High	13	EPS	25.30	P/E	0.30
Market Cap.	9.27 Cr.	52Week Low	7	P/BV / Div Yield (%)	-0.23 / 0.00	Market Lot	1.00
Security Type	Other

NOTES TO ACCOUNTS

You can view the entire text of Notes to accounts of the company for the latest year

Year End :2024-03

(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.

• 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