1.  Background
 
 ibn18 Broadcast Limited (The Company or ibn18) was incorporated on
 6 June, 2005 as Global Broadcast News Private Limited. The Company was
 converted into a public limited Company and a revised Certificate of
 Incorporation was issued to give effect to this change w.e.f. 12
 December, 2005. Later, the name of the Company was changed to ibn18
 Broadcast Limited (hereinafter referred as ibn18) and a revised
 Certificate of Incorporation was issued to give effect to this change
 on 02 April, 2008. The Company is in the business of broadcasting,
 telecasting, relaying and transmitting general news programmes and
 operates the news channels CNN IBN (consequent to a licensing and
 content sharing agreement with Turner Broadcasting System Asia Pacific,
 Inc.). The commercial operations of the Company commenced on 17
 December, 2005. Further, after merger of ibn7 undertaking of ibn18
 Media & software Limited (formerly Jagran TV Private limited), ibn18 is
 broadcasting, telecasting, relaying and transmitting hindi general news
 programmes and operates the news channel IBN7.  Of the total equity
 share capital of the Company, 64,892,544 equity shares (Previous year
 47,724,140 equity shares) of face value of Rs.2 each are held by
 Network 18 Media & Investments Limited (Network18) of which, 47,384,140
 shares were issued to Network18 for consideration received other than
 cash pursuant to scheme of amalgamation between the company and SRH
 Broadcast News Holdings Private Limited.
 
 Network18 Media & Investments Limited is the holding company by virtue
 of management control over the Company''s operations.
 
 The financial statements are prepared under the historical cost
 convention on the accrual basis of accounting and in accordance with
 the Generally Accepted Accounting Principles (GAAP) in India and comply
 with the Accounting Standards prescribed by the Companies (Accounting
 Standards) Rules, 2006 to the extent applicable and in accordance with
 the provisions of the Companies Act, 1956 as adopted consistently by
 the Company.
 
 2 The Board of Directors of the Company in its meeting held on 7
 July, 2010 considered and approved a Scheme of Arrangement (the
 Scheme) between the Company, Network18 Media & Investments Limited
 (''Network18''), Television Eighteen India Limited (''TV18'') and other
 group companies, under sections 391 to 394 read with section 78, 100 to
 103 of the Companies Act, 1956. As per the Scheme, TV18''s television
 businesses inter-alia consisting of business news channels viz. CNBC
 TV18 and CNBC Awaaz will be demerged and consolidated with the Company.
 On the same date, ibn18 Media Software Limited (ibn18 Media) a
 subsidiary of the Company and iNews.com Limited (iNews) will be merged
 into the Company and since these are either the wholly owned subsidiary
 or will become wholly owned subsidiary pursuant to scheme, no
 consideration will be payable to their shareholders. As per the Scheme,
 the shareholders of TV18 will be given 68 shares of the Company in lieu
 of 100 shares held in TV18.
 
 The shareholders of the Company approved the Scheme on 21 December,
 2010. The Scheme has been sanctioned by the Hon''ble High Court of Delhi
 on 26 April, 2011. The appointed date for the proposed restructuring is
 1 April, 2010 and the Scheme shall be effective when the certified
 copies of the High Court Orders are filed with the jurisdictional
 Registrar of Companies, which is still pending. Accordingly no effect
 of the proposed restructuring has been given in these financial
 statements. Upon the Scheme becoming effective, the results of
 operations, assets and liabilities relating to the television business
 of TV18, shall be transferred to the Company. Further ibn18 Media and
 iNews will be merged with the Company.
 
 3  Capital commitment, contingent liabilities and litigations
 
 a.  Estimated amounts of contracts remaining to be executed on capital
 account (net of advances) Rs.2.90 million (Previous year Rs. 0.86
 million).
 
 b.  The Company has purchased capital equipment under the ''Export
 Promotion Capital Goods Scheme''. As per the terms of the licenses
 granted under the scheme, the Company has undertaken to achieve an
 export commitment of Rs. 740.64 million (Previous year Rs. 740.64
 million) over a period of 8 years commencing from 10 August, 2005. In
 the event the Company is unable to execute its export obligations, the
 Company shall be liable to pay customs duty of Rs. 92.58 million
 (Previous year Rs. 92.58 million) and interest on the same at the rate
 of 15 per cent compounded annually. The banks have given a guarantee
 amounting to Rs.  115.30 million (Previous year Rs. 115.30 million) on
 behalf of the Company to the custom authorities for the same. The
 Company is hopeful of meeting the required export obligation.
 
 c.  The bank has given a guarantee amounting to Rs. 25.00 million
 (Previous year Rs. 25.00 million) on behalf of the Company to The
 Listing Department, Bombay Stock Exchange Limited.
 
 d.  The Company has given corporate guarantees of Rs. 249.00 million
 (Previous year Rs. 272.5 million) towards credit facility given by
 banks to IBN Lokmat. As at the year end Rs. 146.38 million was
 outstanding in respect of such loans.
 
 e.  The Company has received legal notices of claims / lawsuits filed
 against it relating to infringement of copyrights, objectionable
 contents and defamation suits in relation to the programmes produced by
 it, the aggregate claim being Rs. 3,124.15 million (Previous year Rs.
 3,124.11 million). In the opinion of the management, no material
 liability is likely to arise on account of such claims/law suits and
 thus no provision has been made against these in financial statements.
 
 4  Share Capital
 
 The shareholders of the Company at the Extra Ordinary General Meeting
 held on 22 December, 2008 had approved the issue and allotment of
 15,000,000 Convertible Warrants (Warrants) at a price of Rs.102/- each
 in accordance with the provisions of Chapter XIII of the Securities and
 Exchange Board of India (Disclosure and Investor Protection)
 Guidelines, 2000 to RVT Investments Private Limited (RVT Investments),
 a promoter group company. The Company had allotted the aforesaid
 Warrants on 13 January, 2009 pursuant to which the Company received Rs.
 153 Million being 10% of the total amount of Rs. 1,530 million in
 respect thereof.
 
 RVT Investments had in the year ending 31 March, 2009 applied for
 conversion of 12,500,000 Warrants and paid Rs. 1,147.50 million towards
 balance amount payable (Rs. 91.80 per share). The Company had allotted
 12,500,000 equity shares of face value of Rs. 2/- each upon conversion
 of Warrants at a premium of Rs 100/- per equity share as per the terms
 of issue of Warrants.
 
 As at 1 April, 2009, 2,500,000 fully paid up Warrants amounting to Rs.
 25.50 Million were outstanding for conversion into equity shares. The
 Company had received the share application money against these Warrants
 for conversion into equity shares. During the year ending 31 March,
 2010, the Company had allotted 2,500,000 equity shares of face value of
 Rs. 2/- each upon conversion of remaining Warrants at a premium of Rs
 100/- per equity share as per the terms of issue of Warrants.
 
 5 Secured Loans
 
 a.  Cash credit from banks of Rs 674.72 million are secured as follows:
 
 i.  Cash credit facility of Rs 547.35 million are secured as follows:
 
 - First pari passu charge on all the current assets of the company.
 
 - Additionally secured by unconditional and irrevocable corporate
 guarantee of Network18 Media & Investments Limited
 
 - Cash credit facility of Rs. 159.98 million is additionally secured by
 second charge on the Company''s movable fixed assets.
 
 ii.  Cash credit facility of Rs. 127.37 million is secured by
 hypothecation of book debts.
 
 b.  The term loan of Rs. 555.02 million taken from banks is secured as
 follows: 
 
 i.  Term loan of Rs. 40 million is secured by:
 
 - First charge on the Company''s movable assets, subject to the charges
 on current assets created/to be created in favour of the Company''s
 bankers for securing borrowings for working capital requirements.
 
 - Unconditional and irrevocable personal guarantee of a Director.
 
 - Letter of comfort from Television Eighteen India Limited (TV18)
 whereby TV18 undertakes to take all necessary steps to ensure that the
 Company fulfils all necessary obligations under the agreement including
 arrangement of funds for payment to the bank in accordance with the
 terms and conditions of the loan agreement.
 
 ii.  Term loan of Rs. 74.03 million is secured by:
 
 - First charge over entire fixed assets pool of IBN7 amounting to Rs
 320.40 million as on 31 March 2009
 
 - Unconditional and irrevocable corporate guarantee of Network18 Media
 & Investments Limited 
 
 iii.  Term loan of Rs. 20.15 million is secured by:
 
 - First charge on all movable assets including plant and machinery and
 equipment acquired / to be acquired out of the proceeds of the term
 loan of IBN7
 
 - Unconditional and irrevocable corporate guarantee of Network18 Media
 & Investments Limited 
 
 iv.  Term loan of Rs. 320.84 million is secured by:
 
 - Subservient charge on all movable fixed assets (all present & future)
 of the Company.
 
 - Unconditional and irrevocable corporate guarantee of Network18 Media
 & Investments Limited, to remain valid during currency of credit
 facility.
 
 v.  Term loan of Rs. 100.00 million is secured by:
 
 - Subservient charge on all movable fixed assets (all present & future)
 of the Company.
 
 - Unconditional and irrevocable corporate guarantee of Network18 Media
 & Investments Limited, to remain valid during currency of credit
 facility.
 
 - Exclusive charge over the assets purchased.
 
 c.  Other secured loans are secured by hypothecation of vehicle and
 plant and machinery.
 
 6  Investments
 
 1.  Having regard to the long term investment and strategic involvement
 with the Company, no provision is considered necessary for diminution
 in the value of following investment and advance for share application
 paid:
 
 a.  Investments in Viacom18 Media Private Limited (Viacom18)
 
 The Company had in earlier years subscribed to 12 million ''Investor
 Warrants'' of USD 3.33 (Rs.148.68 approximately) per warrant aggregating
 to USD 40 million (Rs.1,786.00 million approximately) in Viacom18 as
 follows:
 
 i.  Series A - 4,500,000 warrants
 
 ii.  Series B - 4,500,000 warrants
 
 iii.  Series C - 3,000,000 warrants
 
 and had paid Rs. 1 each for these warrants aggregating to Rs. 12
 million.
 
 Each warrant was convertible into one fully paid up equity share of
 Viacom18 on exercise of options and on payment of the balance of the
 stipulated warrant consideration price. The option was exercisable
 during a period of 12, 24 and 36 months from the date of allotment of
 warrants of A,  B , and C series respectively.
 
 As at the year ended 31 March 2011, the Company has an amount of Rs 200
 million outstanding towards share application money and Rs. 440.20
 million outstanding towards the balance consideration payable for the
 subscribed and allotted warrants of Series C which warrants are yet
 to be converted by Viacom18.  These amounts are disclosed under loans
 and advances.
 
 The Company''s total investments in the capital of Viacom18 is Rs.
 6,744.23 million as at the year ended 31 March 2011.
 
 As at 31 March 2011, Viacom18 has accumulated losses and its net worth
 has been partially eroded.
 
 b.  Investments in IBN Lokmat Private Limited (IBN Lokmat)
 
 The Company had invested Rs 437.75 million in IBN Lokmat. As at 31
 March 2011, IBN Lokmat has significant accumulated losses and its net
 worth has been substantially eroded.
 
 c.  Investment in RVT Media Private Limited (RVT Media)
 
 The Company had invested Rs. 26.20 million (including share application
 money) in RVT Media. RVT Media has consolidated accumulated losses and
 its networth has been partially eroded.
 
 2.  Provision is considered necessary for diminution in the value of
 following investment:
 
 a.  Investment in ibn18 Mauritius Limited (ibn18 Mauritius)
 
 The Company had invested Rs. 658.94 million (including amount paid for
 Debentures) in ibn18 Mauritius.  ibn18 mauritius has significant
 accumulated losses and its networth has been completely eroded.
 Accordingly, the Company had made a provision of Rs. 658.94 million
 towards diminution in the value of total investment.
 
 7 Earnings per share (EPS)
 
 Basic earnings per equity share have been computed by dividing net
 profit after tax by the weighted average number of equity shares
 outstanding for the year ended 31 March, 2011. Diluted earnings per
 equity share have been computed using the weighted average number of
 equity shares and dilutive potential equity shares outstanding during
 the year. The details are:
 
 8  Deferred tax
 
 The Company has carried out its tax computation in accordance with the
 mandatory standard on accounting, AS 22 – ''Accounting for Taxes on
 Income'' referred in Companies (Accounting Standards) Rules, 2006. In
 view of its significant accumulated losses, the Company has not
 provided for deferred tax assets as there is no virtual certainty that
 there will be sufficient future taxable income available to realise
 such assets. In accordance with the same no deferred tax asset /
 liability was required at the year end.
 
 9  Segmental reporting
 
 The Company is engaged in the business of production and telecast of
 news and current affairs programmes primarily in India. As the Company
 operates in a single business and geographical segment, the reporting
 requirements for primary and secondary segment disclosures prescribed
 by paragraphs 39 to 51 of Accounting Standard 17 Segment Reporting,
 have not been provided in these financial statements.
 
 10  Employee Benefits
 
 a.  Description of the Gratuity plan
 
 The gratuity liability arises on retirement, withdrawal, resignation
 and death of an employee. The aforesaid liability is calculated on the
 basis of fifteen days salary (i.e. last drawn salary plus dearness
 allowance) for each completed year of service subject to completion of
 five years service.
 
 11. GBN Employees Stock Option Plan 2007 (ESOP 2007)
 
 a.  The Company had established an Employee Stock Option Plan (ESOP
 2007) in accordance with the Securities and Exchange Board of India
 (Employee Stock Option Scheme and Employee Stock Purchase Scheme)
 Guidelines, 1999 which have been approved by the Board of Directors and
 the shareholders. A remuneration/ compensation committee comprising
 independent, non executive members of the Board of Directors
 administers the ESOPs. All options under the ESOPs are exercisable for
 equity shares. The Company had declared stock split of 1 equity share
 of face value of Rs. 10 each in 5 equity share of Rs. 2 each through
 postal ballot dated 19 December 2007, the results of which were
 declared on 25 January 2008. The Company plans to grant upto 1,700,000
 (8,500,000 options pursuant to split of 1 share of face value of Rs.10
 in 5 shares of face value of Rs.2 each) options to eligible employees
 and directors of the Company and its subsidiaries and holding company
 of the Company.
 
 b.  Options which have been granted under ESOP 2007 shall vest with the
 grantee equally over a four year period from the date of grant. The
 exercise period of the options is a period of two years after the
 vesting of the options. Each option is exercisable for one equity share
 of Rs. 10 each (for one equity share of Rs 2 each after split) fully
 paid up on payment of exercise price (as determined by the
 remuneration/compensation committee) of share determined with respect
 to the date of grant. The Company has granted 5,020,642 options upto 31
 March, 2011.
 
 d.  The Finance Act 2009 has abolished Fringe Benefit Tax (FBT) on
 Employees'' Stock Option Plan, hence there is no charge in these
 financial statements.
 
 12. Related Party disclosures
 
 a.  Related parties and their relationships Holding Company
 
 i.  Network18 Media & Investments Limited (Network18) (formerly
 Network18 Fincap Limited)
 
 Subsidiary Companies
 
 i.  RVT Media Private Limited (RVT Media)
 
 ii.  ibn18 Media and Software Limited (ibn18 Media) (Formerly Jagran TV
 Private Limited (Jagran TV)
 
 iii.  ibn18 (Mauritius) Ltd w.e.f 1 April, 2009
 
 iv AETN18 Media Private Limited (AETN18) w.e.f 22 November, 2010
 
 Joint Venture
 
 i.  IBN Lokmat News Private Limited (IBN Lokmat)
 
 ii.  Viacom18 Media Private Limited (Viacom18) w.e.f 1 April, 2009
 
 Fellow Subsidiaries
 
 i.  Television Eighteen India Limited (TV18)
 
 ii.  Network18 India Holdings Private Limited (N-18 Holding)
 
 iii.  Setpro18 Distribution Limited (Setpro18), formerly Setpro 18
 Distribution Private Limited
 
 iv.  Television Eighteen Mauritius Limited, Mauritius (TEML)
 [Subsidiary of TV18]
 
 v.  NewsWire18 Limited (Newswire), formerly News Wire18 India Private
 Limited till 27 February, 2009 [Subsidiary of TV18]
 
 vi.  RVT Investments Private Limited (RVT) [Subsidiary of TV18]
 
 vii.  Infomedia 18 Limited (Infomedia) w.e.f 21 August, 2008
 [Subsidiary of TV18]
 
 viii. Web18 Holdings Limited, Cayman Islands (Web18 Holding)
 [Subsidiary of TEML]
 
 ix.  BK Holdings Limited, Mauritius (BKH) [Subsidiary of TEML]
 
 x.  TV18 UK Limited (TV18 UK) [Subsidiary of TEML]
 
 xi.  E-18 Limited, Cyprus (E-18, Cyprus) [Subsidiary of Web18 Holding]
 
 xii.  e-Eighteen.com Limited (E-18) [Subsidiary of E-18, Cyprus]
 
 xiii. Television Eighteen Commoditiescontrol.com Limited (TECCL)
 [Subsidiary of E-18, Cyprus]
 
 xiv. Web18 Software Services Limited (Web18) [Subsidiary of E-18,
 Cyprus]
 
 xv.  Care Websites Private Limited (Care) w.e.f. 14 February, 2008
 [Subsidiary of E-18, Cyprus]
 
 xvi. Moneycontrol Dot Com India Limited (MCD) [subsidiary of E-18]
 
 xvii. TV18 Home Shopping Network Limited (TV18 HSN)
 
 xviii.Bigtree Entertainment Private Limited (Bigtree)
 
 xix. Digital18 Media Limited (Digital18) w.e.f. 01 July, 2010
 
 Individual exercising control
 
 i.  Raghav Bahl (RB)
 
 Key management personnel and their relatives
 
 i.  Sameer Manchanda (SM) upto 22 October, 2010 
 
 ii.  Rajdeep Sardesai (RS) 
 
 iii.  Sagarika Ghose (SG)
 
 Entity under significant influence
 
 i.  SGA News Limited (SGA News) upto 18 August, 2010
 
 ii.  Greycells 18 Media Limited (Greycells)
 
 iii.  Digital18 Media Limited (Digital18) upto 30 June, 2010
 
 13.  Barter Transactions
 
 During the year ending 31 March, 2011, the Company had entered into
 barter transactions, which were recorded at the fair value of
 consideration receivable or payable. The Income from operations for the
 year ended 31 March, 2011 has been net of, to reflect revenue from
 barter transactions of Rs. 102.32 million and expenditure of Rs. 93.93
 million being the fair value of barter transactions provided and
 received.
 
 14.  Transfer Pricing
 
 As per the Transfer Pricing Rules of the Income tax Act, 1961 every
 company is required to get a transfer pricing study conducted to
 determine whether the international transactions with associated
 enterprises were undertaken at an arm''s length basis for each financial
 year end. Transfer pricing study for the transactions during the year
 ended 31 March, 2011 is currently in progress and hence adjustments if
 any which may arise there from have not been taken into account in
 these financial statements for the year ended 31 March, 2011 and will
 be effective in the financial statements for the year ended 31 March,
 2012. However in the opinion of the Company''s management, adjustments,
 if any, are not expected to be material.
 
 15.  Disclosures as per Micro, Small and Medium Enterprises Development
 Act, 2006 (MSMED)
 
 Based on the information available with the Company, the balance due to
 micro and small enterprises as defined under the MSMED Act, 2006 is Rs.
 Nil (Previous year Rs. Nil) and no interest has been paid or is payable
 under the terms of the MSMED Act, 2006.
 
 16.  Foreign exchange forward contracts
 
 The Company does not use foreign currency forward contracts to hedge
 its risks associated with foreign currency fluctuations relating to
 certain firm commitments and forecasted transactions.
 
 17. Previous year''s amounts have been reclassified/ regrouped to
 conform to the current year''s presentation.