Nature of Operations
 
 The Company was incorporated on June 22, 1992 in the name of VR Mathur
 Mass Communications Ltd. and subsequently the name has been changed to
 Gradiente Infotainment Ltd.( w.e.f 09-01-2003). The Company''s revenue
 is generated mainly from the advertisement, in Print Media & Electronic
 Media and TV Serial production for other production houses and own
 production.
 
 1.  Contingent Liabilities
 
 a.  The Company has defaulted in payment of loan to Andhra Bank for
 which they have raised a demand of Rs. 1.80 crores under one time
 settlement scheme (OTS) vide letter no.1204/45/26/837 dated
 12-03-2004,subsequently Bank has Auctioned 2 properties.
 
 - No.301/1, 3rd Floor of Krishna Plaza, Muncipal # 6-2-953/A and
 6-2-953/B admeasuring 952.85sq ft along with undivided land 30.68 sq
 Yds, Kharitabad and
 
 - No.309/1, 3rd Floor of Krishna Plaza, Muncipal # 6-2-953, 6-2-953/A
 and 6-2-953/B admeasuring 923.65sq ft along with undivided land 28.83
 sq Yds, Kharitabad.
 
 The above properties were auctioned by the Bank in the year 2006-07 and
 realised an amount of Rs. 41 lacs and the company has paid Rs. 9 lacs in
 cash making a total repayment of Rs. 50 lacs. Balance demands Rs. 1.30
 crores.
 
 The company has requested to settle the demand for Rs. 1.00 crore. If the
 request is accepted by the bank there will be a net outflow of Rs. 50
 lacs, if not outflow shall be Rs. 1.30 crores.
 
 b.  Director Vimal Raj Mathur has given a corporate guarantee of 5 lakh
 shares of Gradiente allotted on his name to SE Investments for Rs. 25
 lakhs.
 
 2.  Sundry Creditors
 
 Disclosure has been made as per the definition given in the Micro,
 Small and Medium Enterprises Development Act, 2006. The Company is not
 having the information regarding supplier''s status under the Micro,
 Small and Medium Enterprises Development Act, 2006 and hence
 disclosures relating to the amounts as at year end together with
 interest payable as required under the Act have not been given
 
 3.  Capital Work in Progress
 
 The amount lying in Capital work in progress is made towards payments
 for purchase of properties of Flat G1, G2 & G3 in ground floor of Siri
 Balaji Residency admeasuring 5100 sq ft for a total consideration of Rs.
 200.32 lakhs for which agreement of sale is entered but pending
 registration next year.
 
 4.  Segment Information
 
 In accordance with Accounting Standard - 17, Segmental Reporting
 issued by the Institute of Chartered Accountants of India, the
 Company''s business segment is Print Media & Electronic Media and TV
 Serial Production business and it has no other primary reportable
 segments. Accordingly, the segment revenue, segment results, total
 carrying amount of segment assets and segment liability, total cost
 incurred to acquire segment assets and total amount of charge for
 depreciation during the year, is as reflected in the Financial
 Statements as of and for the year ended March 31, 2012. The Company
 caters to the needs of the domestic market and hence there are no
 reportable geographical segments.
 
 5.  Earnings per Share (Basic and Diluted)
 
 The number of shares used in computing Basic Earnings per share (EPS)
 is the weighted average number of shares outstanding during the year.
 The number of shares used in computing Diluted EPS comprises of
 weighted average shares considered for deriving Basic EPS and also the
 weighted average number of equity share which would be issued for no
 consideration on exercise of options under the Employee Stock Option
 Scheme, 2005. The number of shares is adjusted for reduction of share
 capital.
 
 Profit computation for both Basic and Diluted Earnings per Share of
 Rupees 10 each Net profit as per the Profit and Loss Account available
 for Equity share holders (in Rupees) Weighted average number of equity
 shares for Earning per share computation for Basic Earnings per Share
 Add: Weighted average outstanding employee stock options deemed to be
 issued for no consideration.
 
 6.Retirement Benefits
 
 a.Gratuity: The Company is yet to contribute Rs. 8.74 lakhs to gratuity
 funds towards Provision made for the year ended 31st March 2012.
 
 b.Provident Fund: The Company has not made any contributions to
 provident fund for employees during the year.
 
 7.  Indian Bank - ODCC# 74105484 bank account was not incorporated in
 the books of accounts earlier and there were no transactions during the
 year so taken into books with balance as appearing last year.
 
 8.  Information pursuant to other provisions of Part II of Schedule VI
 to the Act, is either nil or not applicable to the Company for the
 year.
 
 9.  Previous year''s figures have been regrouped where necessary.
 
 10.  Refer Annexure for additional information pursuant to Part IV of
 Schedule VI of the Act Signatures forming part of the financial
 statements.
 
 11.  Remuneration calculated as per schedule XIII of Companies Act.
 
 12.Prior Period Adjustment
 
 The company has committed error by over claiming depreciation on fixed
 assets in earlier years due to change in method of depreciation. The
 company has identified the error in estimates and revised the
 depreciation amounts and assets values following written down value
 method as stipulated under schedule XIV of the companies Act, 1956. The
 revisions were accounted for prospectively as a change in accounting
 estimates and as a result the income has been increased by Rs. 4,414/-