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सी टीवी नेटवर्क

बीएसई: 533268  |  NSE: N.A  |  ISIN: INE351L01016  |  Media & Entertainment

खोजें सी टीवी नेटवर्क कनेक्शन Mar 14
लेखा परीक्षकों की रिपोर्ट वर्षांत : Mar '15
We have audited the accompanying standalone financial statements of SEA
 TV NETWORK LIMITED (the Company), which comprise the Balance Sheet as
 at 31st March, 2015, the Statement of Profit and Loss and the cash flow
 statement for the year then ended, and a summary of the significant
 accounting policies and other explanatory information.
 
 Management''s Responsibility for the Financial Statements
 
 The Company''s Board of Directors is responsible for the matters stated
 in Section 134(5) of the Companies Act, 2013 (the Act) with respect
 to the preparation and presentation of these standalone financial
 statements that give a true and fair view of the financial position,
 financial performance and cash flows of the Company in accordance with
 the accounting principles generally accepted in India, including the
 Accounting Standards specified under Section 133 of the Act, read with
 Rule 7 of the Companies (Accounts) Rules, 2014. This responsibility
 also includes maintenance of adequate accounting records in
 accordance with the provisions of the Act for safeguarding of the
 assets of the Company and for preventing and detecting frauds and other
 irregularities; selection and application of appropriate accounting
 policies; making judgments and estimates that are reasonable and
 prudent; and design, implementation and maintenance of adequate
 internal financial controls, that were operating effectively for
 ensuring the accuracy and completeness of the accounting records,
 relevant to the preparation and presentation of the financial
 statements that give a true and fair view and are free from material
 misstatement, whether due to fraud or error.
 
 Auditor''s Responsibility
 
 Our responsibility is to express an opinion on these standalone
 financial statements based on our audit.  We have taken into account
 the provisions of the Act, the accounting and auditing standards and
 matters which are required to be included in the audit report under
 the provisions of the Act and the Rules made thereunder.
 
 We conducted our audit in accordance with the Standards on Auditing
 specified under Section 143(10) of the Act. Those Standards require
 that we comply with ethical requirements and plan and perform the audit
 to obtain reasonable assurance about whether the financial statements
 are free from material misstatement.
 
 An audit involves performing procedures to obtain audit evidence about
 the amounts and the disclosures in the financial statements. The
 procedures selected depend on the auditor''s judgment, including the
 assessment of the risks of material misstatement of the financial
 statements, whether due to fraud or error. In making those risk
 assessments, the auditor considers internal financial control relevant
 to the Company''s preparation of the financial statements that give a
 true and fair view in order to design audit procedures that are
 appropriate in the circumstances but not for the purpose of expressing
 an opinion on whether the company has in place an adequate internal
 financial controls system over financial reporting and the operating
 effectiveness of such controls. An audit also includes evaluating the
 appropriateness of the accounting policies used and the
 reasonableness of the accounting estimates made by the Company''s
 Directors, as well as evaluating the overall presentation of the
 financial statements.  We believe that the audit evidence we have
 obtained is sufficient and appropriate to provide a basis for our audit
 opinion on the financial statements.
 
 Opinion
 
 In our opinion and to the best of our information and according to the
 explanations given to us, the aforesaid standalone financial
 statements give the information required by the Act in the manner so
 required and give a true and fair view in conformity with the
 accounting principles generally accepted in India, of the state of
 affairs of the Company as at 31st March 2015, its loss and its cash
 flows for the year ended on that date.
 
 Report on Other Legal and Regulatory Requirements
 
 As required by the Companies (Auditors'' Report) Order,2015 (the
 Order) issued by the Central Government of India in terms of sub
 section (11) of section 143 of the Companies Act, 2013. We give in the
 Annexure A statements on the matters specified in paragraphs 3 and 4 of
 the order, to the extent applicable.
 
 As required by Section 143 (3) of the Act, we report that:
 
 (b) We have sought and obtained all the information and explanations
 which to the best of our knowledge and belief were necessary for the
 purposes of our audit.
 
 (c) In our opinion, proper books of account as required by law have
 been kept by the Company so far as it appears from our examination of
 those books.
 
 (d) The Balance Sheet, the Statement of Profit and Loss and the cash
 flow statement dealt with by this Report are in agreement with the
 books of account.
 
 (e) In our opinion, the aforesaid standalone financial statements
 comply with the Accounting Standards specified under Section 133 of the
 Act, read with Rule 7 of the Companies (Accounts) Rules, 2014.
 
 (f) On the basis of the written representations received from the
 directors as on 31st March 2015 taken on record by the Board of
 Directors, none of the directors is disqualified as on 31st March 2015
 from being appointed as a director in terms of Section 164 (2) of the
 Act; and
 
 (g) With respect to the other matters to be included in the Auditor''s
 Report in accordance with Rule 11 of the Companies (Audit and Auditors)
 Rules, 2014, in our opinion and to the best of our information and
 according to the explanations given to us;
 
 i. The Company has disclosed the impact of pending litigations on its
 financial position in its financial statements- Refer Note 25 (A) (i)
 to (iii) of the financial statements.
 
 ii. The Company has made provision, as required under the applicable
 law or accounting standards, for material foreseeable losses, if any,
 on long-term contracts including derivative contracts- Refer Note 11 to
 the financial statements.
 
 iii. There has been no delay in transferring amounts, required to be
 transferred, to the Investor Education and Protection Fund by the
 Company.
 
 Annexure to the Auditors'' Report
 
 The Annexure referred to in our Independent Auditors'' Report to the
 members of Sea TV Network Limited on the standalone financial
 statements for the year ended 31st march, 2015, we report that:
 
 (I) (a) The Company has maintained proper records showing full
 particulars including quantitative details and situation of fixed
 assets.
 
 (b) The Company has a regular program of physical verification to cover
 all fixed assets in a phased manner over a period of two years other
 than set top boxes which are in possession of the customers / third
 parties and distribution equipment comprising overhead and underground
 cables.  Management is of the view that it is not possible to verify
 these assets due to their nature and location. In accordance with
 this program, certain fixed assets were physically verified during the
 year by the management but no discrepancies were noticed on such
 verification as explained to us. In our opinion, other than for
 physical verification of set top boxes and distribution equipments
 referred to above, the frequency of verification of fixed assets is
 reasonable.
 
 (II) The company is a service company, primarily rendering MSO
 services. Accordingly it does not hold any physical inventories. Thus,
 paragraph (ii) (a) to (c) of the Order is not applicable.
 
 (III) The Company has not granted any loans, secured or unsecured to
 companies, firms or other parties covered in the register maintained
 under section 189 of the Companies Act, 2013 (''the Act'').  Thus,
 paragraph (iii) of the Order is not applicable.
 
 (IV) In our opinion and according to the information and explanations
 given to us, having regard to the explanations that some of the
 capital/ revenue items purchased are special nature and suitable alter-
 native sources are not readily available for obtaining comparable
 quotations, there is an adequate internal control system commensurate
 with the size of the company and the nature of its business, with
 regard to purchase of fixed assets and for the sale of services. The
 activities of the company do not involve purchase of inventory and the
 sale of goods. We have not observed any major weaknesses in the
 internal control system during the course of the audit.
 
 (V) The Company has not accepted any deposits from the public.
 
 (VI) The Central Government has not prescribed the maintenance of cost
 records under section 148(1) of the Act, for any services rendered by
 the company.
 
 (VII) (a) According to the information and explanations given to us and
 on the basis of the records of the Company, amounts deducted/ accrued
 in the books of account in respect of undisputed statutory dues
 including provident fund, income tax, employee state Insurance, service
 tax, duty of customs and other material statutory dues have been
 regularly deposited during the year by the Company with the appropriate
 authorities. As explained to us, the Company did not have any dues on
 account of duty of excise, sales tax, Wealth tax, value added tax,
 Cess.
 
 According to the information and explanations given to us, no
 undisputed amounts payable in respect of provident fund, income tax,
 employee state Insurance, service tax, duty of customs, excise duty,
 sales tax, Wealth tax, value added tax, Cess and other material
 statutory dues were in arrears as at 31st March, 2015 for a period more
 than six months from the date they became payable.  
 
 (b) According to the information and explanations given to us, the
 following dues have not been deposited by the company on account of
 disputes:
 
 Name of   Nature at dttes    Amount(Rs)  Period to which  Forum where
                                                           dispute 
 the 
 Statute                                  the wtitruut     is Pendind
                                          relate
 
 Income    Income tax Demand    215220/-  AY 2010-11       CIT (Appeals)
 tax                                                       Agra 
 Act
 
 Income 
 tax       Income tax demand       Nil    AY 2012-13       CIT (Appeals}. 
 Act       against addition                                Agra
           adjusted from
           refund pf income tax
 
 Entertain Licence fees        11600800/- FY 2013-14       Alahabad High
                                                           Court, Lucharw
                                                           BearH
 
 (c ) According to the information and explanations given to us, there
 was no amount which was required to be transferred to the Investor
 education and protection fund in accordance with the relevant
 provisions of the Companies Act, 1956 (1 of 1956) and rules thereunder.
 
 (VIII) The Company does not have any accumulated losses at the end of
 the financial year. Company has incurred cash losses in the financial
 year but not in the immediately preceding financial year.
 
 (IX) The company did not have any outstanding dues to financial
 institutions, banks or debenture holders during the year except in
 case of Allahabad Bank term loans as under:
 
 Name of Financial  Nature of Overdue   Period to  Which the  Whether
 institution        account             amount(Rs) amount
                                                   relates    regularized   
 
 Allahabad Bank     Term Loan           77315178/= April 2014
                                                   July 2014  Yes
                                                   to Feb,
                                                   2015
 (X) In our opinion and according to the information and the
 explanations given to us, the Company has not given any guarantee for
 loans taken by others from banks or financial institutions.
 
 (XI) Based on information and explanations given to us by the
 management, the term loans raised by the company during the year were
 applied for the purpose for which they were obtained.
 
 (XII) According to the information and explanations given to us, no
 fraud on or by the Company has been noticed or reported during the
 course of our audit.
 
 Place :Agra
 
 Date  : 30th May, 2015                   For Surendra G. & Company
 
                                              Chartered Accountants 
 
                                                       FRN: 001757C
 
                                                Surendra Kumar Garg
 
                                                         Proprietor 
 
                                                     M.No. : 070974
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • BREAKING NEWS LOWER : मुनाफा `3,197.1 Cr (`3,250 Cr का अनुमान था)
  • BREAKING NEWS LOWER : आय `44,245 Cr (`46,000 Cr का अनुमान था)
  • BREAKING NEWS LOWER : EBITDA `5,120.7 Cr (`5,555 Cr का अनुमान था)
  • BREAKING NEWS LOWER : EBITDA मार्जिन 11.6% (12% का अनुमान था)
  • BREAKING NEWS LOWER : `8/Sh अंतिम डिविडेंड का एलान किया
  • BREAKING NEWS LOWER : Order Inflow `57,785 Cr
  • BREAKING NEWS LOWER : इंफ्रा आय `27,093.5 Cr से घटकर `25,559.7 Cr
  • BREAKING NEWS LOWER : इंफ्रा EBIT `3,088.3 Cr से घटकर `2,626.6 Cr
  • BREAKING NEWS LOWER : इंफ्रा EBIT मार्जिन 11.4% से घटकर 10.3%
  • BREAKING NEWS LOWER : Power Biz आय `934.3 Cr से घटकर `565.3 Cr

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