1.  Basis of preparation of financial statements
 
 The financial statements have been prepared and presented under the
 historical cost convention on the accrual basis of accounting and
 comply with the applicable Accounting Standards and Accounting Rules as
 notified by Central Government under the Companies Act, 1956, to the
 extent applicable.
 
 2.  Use of estimates
 
 The preparation of financial statements in conformity with the
 generally accepted accounting principles requires management to make
 estimates and assumption that affect the reported amounts of assets and
 liabilities, revenue and expenses and disclosure of contingent
 liabilities. The estimates and assumptions used in accompanying
 financial statements are based upon management''s evaluation of the
 relevant facts and circumstances as of the date of the financial
 statements.  Actual results may differ from the estimates and
 assumptions used in preparing the accompanying financial statements.
 Any revision to accounting estimates is recognised prospectively in
 current and future periods.
 
 a) Disclosures pursuant to Accounting Standard 15 (AS-15) Employee
 Benefits
 
 i. The Company has a defined benefit gratuity plan.  Every employee
 gets a gratuity on leaving the Company after the completion of five
 years, at fifteen days of last drawn salary for each completed
 year of service.
 
 ii. The Company has a defined plan for compensated absences for its
 employees.
 
 b) Segment reporting AS-17:
 
 Primary segment information:
 
 The Company is organized into three-business segments viz. Theatre
 Exhibition division comprising of multiplex theatres and other
 entertainment facilities, Retail space division comprising of
 construction of malls for sale and or lease to third parties and
 Windmill division comprising of wind energy generator.
 
 Secondary segment information:
 
 The Company does not have geographical distribution of revenue hence
 the secondary segmental reporting based on geographical location of its
 customers is not applicable to the Company.
 
 c) Disclosure of Related Party transactions under AS-18:
 
 In accordance with the disclosure requirements of Accounting Standard
 (AS)-18 Related party Disclosures the details of related party
 transactions are given below:
 
 i.  List of related parties:
 
 Nature of relationship Name of related parties
 
 Companies where control exists                  
 
 Subsidiaries                                      
 
 1.  Vista Entertainment Private Limited
 
 2.  Growel Entertainment Private Limited
 
 3.  Cinemax Motion Pictures Limited
 
 4.  Odeon Shrine Multiplex Private Limited
 
 Ultimate Subsidiary
 
 1.  Nikmo Entertainment Private Limited (formerly known as Nikmo
 Finance Private Limited)
 
 Directors and Key Management Personnel 1.  Mr. Rasesh B. Kanakia
 
 2.  Mr. Himanshu B. Kanakia 
 
 3.  Mrs. Hiral H. Kanakia (upto 10 September 2009)
 
 Relatives of Directors and Key Management Personnel
 
 1.  Mrs. Rupal Kanakia
 
 2.  Mrs.ManishaVora
 
 3.  Mrs. Hiral H. Kanakia (from 11 September 2009)
 
 Entities under common control or significant influence can be exercised
 
 1.  Kanakia Spaces Private Limited
 
 2.  Kanakia Finance And Investments Private Limited
 
 3.  R And H Amusements And Games Private Limited
 
 4.  Cine Cafe Services.
 
 5.  Kanakia Hospitality Private Limited
 
 Beneficial Trust 1.  Babubhai Kanakia Foundation
 
 g) Bank Loans:
 
 1 Term loans and Cash Credit taken from Jammu and Kashmir Bank are
 secured against:
 
 i.  Personal guarantees of Directors.
 
 ii.  Hypothecation of all movable fixed assets including furniture and
 fixtures, machinery / equipment, fittings etc. to be in upcoming
 projects at eight locations.
 
 iii.  Assignment of cash flows from eight new multiplexes.
 
 iv.  Hypothecation of the Equipments, furniture and other moveable''s
 assets at installed in new nine locations.
 
 v.  Assignment of cash flows from new multiplexes proposed to be
 established at nine locations.
 
 vi.  Assignment of all receivables and dues from Hindustan Coca Cola
 Beverage Private Limited.
 
 vii. Hypothecation of equipments, furniture and other moveable assets
 to be installed at three new multiplexes.
 
 viii. First Charge of present &future cash flows of all the three
 multiplexes.
 
 ix.  Registered Mortgage of four multiplex.
 
 x.  Hypothecation of equipments, furniture and other moveable assets to
 be installed at four new multiplexes.
 
 xi.  First Charge of present &future cash flows of all the four
 multiplexes.
 
 2 Term Loans from State Bank of India are secured against:
 
 i.  Land and construction at a mall being principal securities and
 against a theatre, being collateral security.  
 
 ii.  Hypothecation charge on fit-outs financed by the Bank at twelve
 Cinema Halls and Multiplexes.  
 
 iii.  Equatable mortgage of one mall & multiplex.
 
 3 Term Loan and Cash Credit / Working Capital Demand Loan taken from
 Standard Chartered Bank are secured against:
 
 i.  Exclusive charge on a Windmill purchased of Standard Chartered
 Bank Term Loan.
 
 ii.  Exclusive charge on a Windmill proposed to be purchased of
 Standard Chartered Bank Term Loan.
 
 iii.  Exclusive charge on the receivables of two multiplexes.
 
 iv.  Personal guarantees of Directors.
 
 v.  Exclusive charge on one commercial property owned by the company.
 
 4 Term Loans from Saraswat Bank are secured against:
 
 i.  Registered Mortgage of a property belonging to the company.
 
 ii.  Hypothecation of furniture and fixtures installed at four
 locations.
 
 iii.  Hypothecation of projections and screening equipments installed
 at four locations.
 
 iv.  Hypothecation of electrical and airconditioners installed at four
 locations.
 
 v.  Registered Mortgage of a theatre as collateral security.
 
 vi.  Personal guarantees of Directors
 
 5 Term Loan from Tata Capital is secured against:
 
 i.  Hypothecation of equipments installed at four locations.  
 
 ii.  Personal guarantee of Directors.
 
 6.  Cash Credit from HDFC Bank is secured against:
 
 i.  Assignment of cash accruals of three locations.  ii.  Personal
 Guarantee of directors.
 
 7.  Vehicle loans taken from various banks are secured against the
 vehicles taken on Hire purchase and the personal guarantees of the
 directors.
 
 8.  Term Loan (Corporate Loan) from Kotak Mahindra Bank is secured
 against: 
 
 i.  Charged on entire credit card receivables of the company.
 
 ii.  Mortgage of one multiplex as a collateral security.
 
 h) Contingent liability pertaining to service tax on rental of
 immovable properties amounts to Rs. 377.19 lacs (Previous year Rs.
 188.19 lacs)
 
 i) Capital Commitments:
 
 Estimated value of contracts remaining to be executed on capital
 account and not provided for, net of advances, aggregated to Rs.
 1,086.00 lacs (Previous year Rs. 146.06 lacs).
 
 j) CIF value of import in respect of capital goods purchased during the
 year aggregated to Rs. 139.36 lacs (Previous year Rs.  38.23 lacs).
 
 k) Expenditure in foreign currency in relation to foreign traveling and
 marketing aggregated to Rs. 3.81 lacs (Previous year Rs. 6.75 lacs).
 
 m) Bank guarantees amounting to Rs. Nil (Previous year Rs. 328.74
 lacs).
 
 p) Based on the available information with the management, the Company
 does not owe any sum to a small scale Industrial undertaking as defined
 in clause (j) to section 3 of the Industries (Development and
 Regulation) Act, 1951.
 
 r) The current assets, loans and advances are stated at the value,
 which in the opinion of the Board, are realisable in the ordinary
 course of the business. Current liabilities and provisions are stated
 at the value payable in the ordinary course of the business.
 
 s) Balances of certain debtors, advances and creditors are subject to
 confirmation/reconciliation subsequent adjustment, if any. In the
 opinion of the management such adjustment are not likely to be
 material.
 
 t) Previous year''s figures have been regrouped, wherever considered
 necessary to confirm with the current year''s presentation.