(iii) Terms and rights attached to equity shares:

The Company has only one class of equity shares having a face value of INR 2 per share. Each holder of equity shares is entitled to one vote per share.

In the event of liquidation of the company the holders of equity share will be entitled to receive remaining assets of the Company. The distribution will be in proportion to the number of equity shares held by the shareholder.

1 Security Premium -

Securities premium reserve is used to record the premium received on issue of shares by the Company. The reserve can be utilised in accordance with the provision of Section 52(2) of Companies Act, 2013.

2 Revaluation Reserve -

Revaluation reserve is created by revaluation of assets of the company in accordance with the provisions of Companies Act, 2013. Amount transferred to Retained earnings to the extent of cost of land sold.

3 Retained earnings-

The cumulative gain or loss arising from the operations which is retained by the Company is recognised and accumulated under surplus in the statement of profit and loss.

The Company has on-going disputes with Indirect Tax Authorities for F.Y 2019-20 excess availment of input set off and violation of other provisions of Goods and Service Tax Act, 2017. Demand u/s 73 of CGST Act, 2017 of Rs.84.85 Lacs for F.Y 2019-20 from GST authorities which are being contested by the Company based on the management evaluation and advice of tax consultants.

The management of the company is confident about substantial relief in the said demands and will not have material adverse effect on the Company's financial position and results of operations.

During the year, Company continued to exploit its existing intangible assets in form of digital entertainment content and has launched various channels on You Tube including Cinevista Entertainment, Cinevista Swift & Fast and Regional contents channels. Accordingly existing intangible assets in the form of entertainment content were remastered and uploaded for exhibition on YouTube. The Company has also launched some songs of Anup Jalota on the youtube channel. Company is expecting many more musical songs to be released.

Residential project known as 'Antares', comprising of Towers 'A' and 'B', under the aegis of the Joint venture Agreement between Cinevista and K. Raheja was launched in this FY 2024-25. Construction of the said project is now in full swing. The project is expected to see its completion by November 2029, as indicated to RERA. Company expects substantial revenue whcih will wipe off old losses in make the Company profitable.

The Company continues to develop plots of land in 'Girivan'. The said project will help the Company to enter into hospitality industry.

Note 30:

Under the Joint Development Agreement, Company transferred Development Rights to the Developer i.e. K.Raheja Corp. Real Estate Pvt. Ltd who is developing entire project at its own cost and sharing revenues with the Company as per agreed terms of the Joint Development Agreement for such transfer of development rights. Accordingly, Company has recognised revenue under Joint Development project over a period of time (i.e. percentage completion method) in accordance with Ind AS 115.

“Post receipt of Commencement certificate and other necessary approvals from regulatory authorities, Residential project known as 'Antares', comprising of Towers 'A' and 'B', under the aegis of the Joint venture Agreement between Cinevista and K. Raheja was launched in the F.Y 2024-25. Accordingly Company converted its land at Kanjurmarg, Mumbai, which was part and parcel of Fixed Assets into inventory in Financial Year 2024-25 after obtaining Fair Market Value report as required by the statutory requirements. Company is carrying inventory in the Statement of Accounts at cost or realisable value whichever is lower as per Ind AS 3.

Company has recognised profits/gains arising on such conversion as capital gain to the extent stock-in-trade is sold or otherwise transferred as required by Section 45 (2) of the I.TAct, 1961. The Company has also recognised business profit u/s 28 to 44 of the I.T.Act, 1961 by taking Fair Market Value of the assets as on the date of conversion as cost of acquisition of business assets which were sold or transferred during the year.

Note 31:

The Company's investment in subsidiary companies i.e. Cinevista Eagle Plus Media Private Limited, Chimera Entertainment Private Limited & Associate company i.e. Heritage Productions Private Limited whose net worth has been substantially eroded is carried at cost at Rs.54.84 Lacs, Rs.5 Lacs & Rs.2.51 Lacs respectively in the Balance sheet as at 31st March, 2026. The Company has also advanced short term funds to the above said companies which are carried at Rs.136.74 Lacs, Rs.165.14 Lacs & Rs.73.74 Lacs respectively in the Balance sheet. During the financial year Company has not carried out any impairment on investments as well as advances made to subsidiaries and business associates although there is substantial erosion of Net worth of the said companies. However according to the Management, Company is making all out efforts to recover investments and advances from above said Companies.

Note 32:

“During the year, the Management of Company has not carried out technical evaluation of intangible assets and hence no impairment was done on the said Intangible Assets. According to the management, the Company is in the process of exploiting the said intangible assets. Accordingly part of the said intangible assets were remastered and uploaded for exhibition on various channels which are already launched by the Company on You Tube. The Company expects to generate substantial revenues in the years to come. The Management is of the view that the realizable value of the said intangible assets is more than its Amortized cost.

Under the Micro, Small and Medium Enterprises Development Act, 2006, (MSMED) which came into force from 2nd October 2006, certain disclosures are required to be made relating to Micro, Small and Medium enterprises. However, Management of the Company has not identified micro, small and medium enterprises as required by MSMED Act, 2006. Hence no separate disclosure is made for outstanding dues of micro and small enterprises.

Note 34:

Loans & advances, sundry creditors and other current liabilities are subject to confirmation.

Note 35:

Previous year's figures have been re-grouped, re-arranged, re-classified and re-casted wherever necessary to make them comparable with current year's figures in conformity with the Indian Accounting Standards (Ind AS) to Financial Statements.

The accompanying notes are an integral part of these standalone financial statements.