a) The Company has only one class of shares referred to as equity
shares having a face value ofRs.10/-. Each holder of equity shares is
entitled to one vote per share and proportionate amount of dividend if
declared to the total number of shares. In the event of liquidation of
the company, the holders of equity shares will be entitled to receive
remainging assets of the company, after distribution of all
preferential amounts in proportion to the number of equity shares held
by the share holders.
In the absence of virtual certainty of availability of taxable business
income in near future against which the deferred tax assets can bo
adjusted, the Company has not recognized deferred tax assets on
unabsorbed depreciation and business losses.
*As per the information available with the Company, none of the
creditors qualify as supplier under The Micro, Small and Medium
Enterprises Development Act, 2006 (the Act) and accordingly no
disclosure is made pursuant to section 22 of the Act.
1.1 Additional information as required under para 5 (viii) of part ii
of Revised Schedule VI to the Companies Act, 1956 has been given to the
extent applicable to the company.
1.2 In the opinion of the Board, the long term loans & advances, trade
receivables and all current assets have a realizable value in the
ordinary course of business not less than the amount at which they are
stated in the Balancesheet
1.3 The Trade Receivables includes amount due from disconnected /
inactive customers and outstanding in excess of one year. The Company
is taking adequate steps for recovery of overdue debts and advances and
wherever necessary, adequate provisions have been made. In the opinion
of the Board, long-term Loans & Advances, Trade Receivables and Current
Assets have a realizable value in the ordinary course of business not
less than the amount at which they are stated in the balance sheet.
1.4 CAPITAL COMMITMENT
Estimated amount of contracts (net of advances) remaining to be
executed on capital account and not provided for aggregate to Rs.Nil
The Company in its ordinary course of business has promoted / acquired
interest in various entities. Considering the long-term involvement of
the Company in these entities and strategic impact it has on the
business of the Company, the Company has committed to provide operating
and financial support to these entities.
1.5 CONTINGENT LIABILITIES
(a) Claims against the Company not acknowledged, as debts are
Rs.2,100,000/-(Previous Year Rs. 2,100,000/-).
(b) Outstanding Bank Guarantees Rs.1,200,000 /- (Previous Year Rs.
1.6 EMPLOYEE BENEFITS
a) Defined Benefit Plans:
The present value of the defined benefit obligations and the related
current service cost were measured using the Projected Unit Credit
Method, with actuarial valuations being carried out at each balance
The following table provides the disclosures in accordance with Revised
b) Defined Contribution Plans:
Contribution to provident and other funds is recognised as an
expense in note no 3.5 of the Statement of Profit and Loss Account.
1.7 SEGMENTAL REPORTING
The Company is a Multi System Operator providing Cable Television
Network Services, Internet Services and allied services which is
considered as the only reportable segment. The Company''s operations
are based in India.
1.8 RELATED PARTY DISCLOSURES
I. Enterprise where control exists:
a. Hathway Cable & Datacom Ltd.
II. Under the control of the Company
a. Hathway Bhawani NDS Network Pvt.Ltd.
b. Hathway Bhawani Sai Network Pvt.Ltd.
III. Other related parties with whom the Company had transactions.
a) Mr. Kuldeep Puri as Managing Director- Key Management Personnel
b) Mr. Kulbhushan Puri as Karta Of M/s Kulbhushan Puri HUF
The Company has leasing arrangements in terms of Accounting Standard 19
on Leases as applicable. These leasing arrangements, which are
cancelable, range between 11 months to 33 months and are usually
renewable by mutual consent on mutually agreeable terms. The amount of
such lease rentals debited to the Statement of Profit and Loss for the
year is Rs.3,676,492 (Previous Year Rs. 3,303,810).
1.10 INTANGIBLE ASSETS
Based on factors such as past experience, industry trends, value added
services and quality of services provided by the Company, trends in
other countries, various changes proposed in the regulations governing
the industry, future business plans, estimated residual value etc., the
Company is of the opinion that the useful life of the Cable Television
Franchise acquired by the company will exceed twenty years.
Accordingly, the same has been amortised over a period of twenty years
from date of acquisition.
1.11 Supplementary statutory information required to be given pursuant
to Clause 32 of the listing agreement -Nil.
1.12 Till the year ended March 31, 2011, pre-revised Schedule VI to the
Companies Act 1956 was being used for preparation and presentation of
financial statements. During the year ended March 31, 2012, the revised
Schedule VI notified under the Companies Act 1956, has become
applicable to the company. Accordingly, the company has reclassified
previous year figures to confirm to this year''s classification. On
adoption of the revised Schedule VI, there has been no significant
impact on recognition and measurement principles followed for
preparation of financial statements.