NOTF 1.1
 
 Company has only one class of share referred to as equity share with
 voting right.
 
 NOTE 2
 
 The Company is engaged in the production/ making of cinematic and
 television content, which requires various types, qualities and
 quantities of raw materials and inputs in different denominations. Due
 to the multiplicity and complexity of the items it is not practicable
 to maintain the quantitative record/ continuous stock register, as the
 process of making content is not amenable to the same. Hence
 quantitative details are not maintained. Physical stock of finished
 content is taken at the end of year. The Ministry of Corporate Affairs
 vide its Notification dated February 8, 2011 has granted exemption from
 giving quantitative details of para 3(ii)(a)(I) & (2) of Part II,
 Schedule VI to the Companies Act, 1956 to manufacturing Companies like
 our Company. The Board has given the consent required under the
 aforesaid notification.
 
 NOTE 3
 
 Arbitration proceedings initiated by the Company against Prasar Bharati
 on account of wrongful encashment of bank guarantees of Rs. 75,050,000
 were ongoing before former Chief Justice YV Chandrachud. The parties
 completed the pleadings before the Arbitrator but unfortunately he
 passed away in July 2008 while the cross examinations were on. The
 Company had filed a petition before the Hon. High Court at Bombay for
 appointment of a sole Arbitrator in place and stead of Justice
 Chandrachud in January 2009. The Bombay High Court appointed Justice BN
 Srikrishna, former Judge of Hon. Supreme Court of India as Sole
 Arbitrator vide order dated November 27, 2009 and the arbitration
 proceedings are ongoing. Opinion obtained by the Company from Justice
 AM Ahmadi, former Chief Justice of the Supreme Court of India, supports
 the Company''s stand that the amount is fully recoverable. In view of
 this, the management of the Company does not consider it necessary to
 make a provision there against in the accounts. The Company is showing
 amount withheld by Prasar Bharti as Long Term Loans and Advances.
 
 NOTE 4
 
 Accounting Standard (AS) 26 on Intangible Assets states that in the
 absence of persuasive evidence there is a presumption that intangible
 assets have a useful life of 10 years. In respect of cinematic content,
 the Company has persuasive evidence that the useful life of cinematic
 content is over 20 years.
 
 The management has considered the following factors viz. the expected
 usage of the asset by the enterprise, typical product life cycles,
 technical, technological or other types of obsolescence, expected
 actions by competitors or potential competitors, the level of
 maintenance expenditure required to obtain the expected future economic
 benefits from the asset, the period of control over the asset, the
 useful life of the asset and for reasons viz. shelf lives of movies
 have substantially increased since 2000, getting better value for
 longer lease in excess of ten years, emergence of channels dedicated
 only for featuring content more than ten years old, growth in the
 numbers of distribution channels, rapid multiplication of remaking,
 animation and other new versions etc. is of the view that the useful
 life of the cinematic content is over 20 years. Hence, amortisation of
 t 46,444,466 is not required to be made. The Company is in line with
 International Accounting Practices and this is a step towards complying
 with IFRS norms which will become mandatory from 2014.
 
 There is no individual content that is material to the financial
 statements of the Company as a whole. There is no content whose title
 is restricted. The cinematic content of carrying value of Rs. 413,771,841
 is pledged to Yes Bank Ltd as security for working capital loan of Rs.
 50,000,000.
 
 The total cost of content as at March 31, 2012 is Rs. 443,437,138. Based
 on a review of estimates of future realisations taken as a whole, the
 management is of the view that future recoverable amount from content
 rights to be more than its carrying unamortised cost of content. Hence,
 no impairment/ write down is considered necessary on this account.
 
 NOTE 5
 
 As per Accounting Standard (AS) 28 on Impairment of Assets, the
 Company has assessed whether there is any indications that any assets
 has impaired. Since the carrying amount is less than the recoverable
 amount, there is no necessity for making any provision for impairment.
 
 NOTE 6
 
 Segment information
 
 During the year, Company operated in only one business segment viz
 content business.
 
 NOTE 7
 
 Related Party Disclosure
 
 In accordance with Accounting Standard (AS) 18 Related Party
 Disclosure, the disclosure in respect of transactions with the
 Company''s related parties are as given below
 
 i.  Subsidiaries of the Company 
 
 a. PNC Productions Ltd
 
 b.  PNC Wellness Ltd
 
 (wholly owned subsidiary)
 
 ii.  Key managerial personnel
 
 a. Pal lab Bhattacharya - Wholetime Director and CEO
 
 b.  Rangita Pritish Nandy - Wholetime Director and Creative Director
 
 c.  Anand Upadhyay - Company Secretary (Resigned wef January 9, 2012)
 
 d.  Rupali Vaidya - Company Secretary (Appointed wef January 9, 2012)
 
 iii. Non executive Directors ;ind their relatives a. Pritish Nandy -
 Non-Executive Chairman
 
 b.  Rina Pritish Nandy - Non-Executive Director
 
 c.  Udayan Bose - Non-Executive, Independent Director
 
 d.  Nabankur Gupta - Non-Executive, Independent Director
 
 e.  Vishnu Kanhere - Non-Executive, Independent Director
 
 f.  Tapan Chaki - Non-Executive, Independent Director
 
 g.  Hema Malini - Non-Executive, Independent Director
 
 h.  Ishita Pritish Nandy - daughter of Non-Executive Chairman
 
 NOTE 8
 
 The Company has incurred loss during the year. Managerial remuneration
 paid/ payable is within the limit of minimum remuneration payable as
 per Part II of Schedule XIII of the Companies Act, 1956. The payment of
 remuneration is duly approved by the Remuneration Committee.
 
 NOTE 9
 
 The company has an investment of Rs. 29,100,000 (LY Rs. 5,100,000) in
 wholly owned subsidiary viz PNC Wellness Limited as at March 31, 2012.
 Further temporary advances of Rs. 713,510 were receivable as at March 31,
 2012.
 
 NOTE 10
 
 In view of loss, no provision has been made for income tax liability
 during the year.
 
 NOTE 11
 
 Loans and Advances of f 46,753,181 includes: i) f 15,000,000 advanced
 against the Music, Asian and Indian Satellite rights of a film, where
 the Company has lien over the exploitation of the said rights and ii) Rs.
 31,753,181 being balance amount advanced towards joint production of a
 film where the Company has joint re-exploitation rights. The Company
 has initiated recovery proceedings in respect of the aforesaid
 advances, i) The Company has filed a Summary Suit with the Hon. High
 Court at Bombay which is pending hearing and disposal and ii) The
 Company has initiated arbitration proceedings which are ongoing before
 Justice Smt KK Baam (Retired). The management considers the same are
 good and fully recoverable. Legal opinion obtained by the Company from
 SF Rego, Judge (Retired), City Civil and Sessions Court, Mumbai,
 supports this and consequently no provision has been made in the
 accounts at this stage.
 
 NOTE 12
 
 Balances of trade receivable, trade payables and loans and advances are
 subject to confirmation by the respective parties.
 
 NOTE 13
 
 In the opinion of the management investments, current assets and loans
 and advances are of the value stated in the financial statements are
 realisable in the ordinary course of business. The provisions for all
 known liabilities and depreciation are adequate and are not in excess
 of the amounts considered, reasonably necessary.
 
 NOTE 14
 
 There are no dues payable to the Investor Education and Protection Fund
 as at March 31, 2012.
 
 NOTE 15
 
 All known liabilities have been provided in the books of accounts.
 
 NOTE 16
 
 The previous year figures have been regrouped/ reclassified wherever
 necessary to bring conformity to the current year''s presentation.