1.  Use of Estimates
 
 The preparation of financial statements in conformity with generally
 accepted accounting principles requires management to make estimates
 and assumptions that affect the repor-ted amounts of assets and
 liabilities and disclosure of contingent liabilities at the date of the
 financial statements and the results of operations during the reporting
 period. Although these estimates are bases upon management''s best
 knowledge of current events and actions, actual results could differ
 from these estimates.
 
 2. Acquisition/Subscription
 
 a). During the previous year the company subscribed to 450000 equity
 shares for a total consideration of Rs.45 Lacs in its wholly owned
 subsidiary Sea News Network Limited.
 
 b). During the previous year the company subscribed to 450000 equity
 shares for a total consideration of Rs.45 Lacs in its wholly owned
 subsidiary Sea Print Media and Publication Limited.
 
 c). During the previous year the company subscribed to 450000 equity
 shares for a total consideration of Rs.45 Lacs in its wholly owned
 subsidiary Jinvani Telemedia Service Limited.
 
 3. Sundry Debtors
 
 Service Tax receivable from sundry debtors has been reduced from total
 sundry debtors in proportion to the periodical outstanding
 Disclosure on the basis of information available with the company,
 under Micro, small and Medium Enterprises Development Act, 2006 :
 
 There are no micro, small and medium enterprises, as definded in the
 micro, small, medium enterprises development act, 2006, to whom the
 company owes dues.
 
 This information has been determined to the extent such parties have
 been identified on the basis of information available with the Company.
 This has been relied upon by the auditors.
 
 4. Miscellaneous expenditure
 
 Preliminary expenses balance has been adjusted from share premium a/c.
 Public issue expenses have been adjusted from share premium a/c.
 
 5. Contingent liability not provided for:
  
                                       31.03.2011     31.03.2011 
 
 On counter guarantee given to banks   24,20,000.00      NIL
 
 On letter of credits                     NIL            NIL
 
 On bills discounted and purchased             0.00   9,77,340.00
 
 On capital commitments towards capital 
 expenditure                              NIL            NIL
 
 6. The previous year figures have been regrouped/restated wherever
 necessary to make them comparable with current year''s figures.
 
 Signature to schedule A to R referred to above which form part of
 Balance Sheet, Profit and Loss account and Cash Flow Statement.