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BOARD OF

DIRECTORS’ REPORT
Dear Members,
Your Directors have pleasure in presenting the Eighth Annual Report together with the audited financial statements of Alternate
Brand Solutions (India) Limited [‘the Company’/ ‘ABSL’] for the financial year ended March 31, 2015.
1. Financial Highlights
Amount in `
Financial Year
2014-15

Financial Year
2013-2014

1,040,047
41,713
2,255
39,459
997,616
20,000,000
16,000,000

1,037,075

2,286,393
1,187,329
(515,923)
1,703,252
(705,636)
20,000,000
16,000,000

997,616

Income
Profit before tax & exceptional item
Tax expense
Profit after tax
Profit brought forward
Authorised Capital
Equity (issued, subscribed & paid up share capital)
Transfer to General Reserve
Surplus carried to Balance Sheet
2. Financial Performance, operations and state of
the Company’s affairs

rotation at the ensuing Annual General Meeting (‘AGM’)
and being eligible, offers himself for reappointment.

The Company recorded a total income of ` 1,040,047
during the financial year 2014-15. Profit after Tax stood
at ` 39,459 for the financial year under review.

During the financial year under review, Mr. A. P. Parigi
(DIN: 00087586) resigned from the Board of Directors
of the Company due to other pre-occupations. The
Board of Directors places on record their appreciation
for the valuable contribution made by Mr. Parigi to the
Company.

There were no material changes and commitments
affecting the financial position of the Company which
have occurred between the end of the financial year of
the Company to which this financial statements relate
and the date of this Report.
3. Dividend
In order to conserve the resources, your Directors do
not recommend any dividend for the financial year 2014
- 2015.
4. Deposits from public
The Company has not accepted any deposits from
public and therefore the details relating the deposits
covered under Chapter V of the Companies Act, 2013
are not required to be furnished.
5. Directors
In accordance with the provisions of the Companies
Act, 2013 read with the applicable rules thereto,
including any statutory modification(s) or re-enactment
thereof for the time being in force (‘the Act’),
Mr. Prashant Panday (DIN: 02747925) retires by

6. Details of the number of meetings of the Board of
Directors
Four Board Meetings were held during the financial year
under review, the dates of which were: May 23, 2014;
August 12, 2014; November 10, 2014 and February 10,
2015.
Details of the attendance at the Board Meetings held
during the financial year under review:
Name of the Directors

Attendance at the
Board Meeting

Mr. Prashant Panday

4 of 4

Mr. N. Subramanian

4 of 4

Mr. S. Sivakumar

4 of 4

Mr. A. P. Parigi *

3 of 4

* 
Mr. A. P. Parigi resigned from the Board of
Directors of the Company effective February 6,
2015.
The Company has not entered into any materially
significant transactions with its Promoters, Directors or

ANNUAL REPORT 2014-15

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Alternate Brand Solutions (India) Limited

BOARD OF
DIRECTORS’ REPORT
their relatives or with the Management, etc. that may
have potential conflict with the interest of the Company
at large.
7. Audit Report
The Audit Report does not contain any qualification,
reservation or adverse remark.
8. Auditors
At the 7th AGM held on August 12, 2014, the Members
had approved the appointment of S. R. Batliboi &
Associates LLP, Chartered Accountants (registration
number- 101049W) as the statutory auditors of the
Company to hold the office from the conclusion of the
7th AGM till the conclusion of the 12th AGM. As per
the provisions of Section 139 of the Act, the Company
shall place the matter relating to such appointment for
ratification by members at every AGM. Accordingly,
the appointment of S. R. Batliboi & Associates LLP,
Chartered Accountants, as the statutory auditors of the
Company is placed for ratification by the members of
the Company.
S. R. Batliboi & Associates LLP have furnished a
certificate in terms of the Companies (Audit and
Auditors) Rules, 2014 and confirmed their eligibility in
terms of Section 141 and all other applicable provisions
of the Act, read with the applicable rules thereto. Other
relevant information has been furnished at Item No. 3
of the Notice convening the AGM.
9. 
Conservation of energy, Technology absorption
and Foreign exchange earnings and Outgo
Given the nature of the business of the Company, most
of the information required to be provided relating to
the Conservation of energy and Technology absorption
is not applicable.
However the information, as applicable, is given
hereunder:
(i) Conservation of energy:
The operations of the Company are not energy
intensive. Nevertheless, continuous efforts are
being made by the Company to reduce the
wastage of scarce energy resources.

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ANNUAL REPORT 2014-15

(ii) Technology absorption:
• The efforts made towards technology
absorption: Not applicable.
• The benefits derived like product
improvement, cost reduction, product
development or import substitution: Not
applicable.
• In case of imported technology (imported
during last three years reckoned from
the beginning of the financial year): Not
applicable.
• The expenditure incurred on Research &
Development (R & D): Not applicable.
(iii) Foreign exchange earnings and outgo:
The Company’s focus is on the opportunities
in the domestic market. The contribution from
exports is, therefore, likely to be limited.
Amount in `
Financial Year Financial Year
2014-2015
2013-2014
Foreign exchange
earnings

0

0

Foreign exchange outgo

0

0

10. Particulars of Employees
Disclosures pertaining to remuneration and other
details as required under Section 197 of the Act read
with the Rules 5(1), 5(2) and 5(3) of the Companies
(Appointment and Remuneration of Managerial
Personnel) Rules, 2014: Not applicable, since the
Company is not listed on any stock exchanges; there
is no employee on the rolls of the Company during
the financial year under review and the Directors of
the Company do not receive any remuneration or
commission from the Company.
11. Extract of Annual Return
Extract of Annual Return of the Company as required
under Section 92 of the Act is attached with this Report
in the Form MGT 9.

BOARD OF DIRECTORS’ REPORT 12. 17. regulatory risk. no significant and material orders were passed by the regulators or courts or tribunals impacting the going concern status and the Company’s operations in future. the Company has not issued: •  any equity shares with differential rights as to dividend. operational risk. Directors’ Responsibility Statement Pursuant to the provisions of Section 134 of the Act.  Particulars of loans given. investment made. including internal financial controls. Medium and Low based on the business impact and likelihood of occurrence of risks and Risk Mitigation & Control. the applicable accounting standards have been followed and that there are no material departures from the same. guarantees given and securities provided The Company has not given any loans. are commensurate with the nature and size of its business and same are adequate and operating effectively. human resource risk. Internal Audit is carried out by Vidya & Company. Particulars of investments made by the Company during the financial year 201415 are provided in the financial statements. Risk Management The Board of Directors has adopted the Risk Management Policy coupled with the Enterprise Risk Management framework and has also established related procedures to inform the Board Members about the risk assessment and minimization procedures. the Company has not entered in to any contracts/ arrangements/ transactions with related parties. 13. 2013. 14. Contracts and arrangements with related parties During the financial year under review. Significant or material order During the financial year under review. Internal Financial Controls The Company has in place adequate internal financial controls with reference to financial statements. the Directors hereby confirm that: a)  in the preparation of the annual accounts for the financial year ended on March 31. The Company’s internal control systems. These systems are periodically tested and no reportable material weakness in the design or operation were observed. technological risk. Risk Management Policy adopted by the Company involves identification and prioritization of risk events. for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities. 15. 18. categorization of risks into High. 16. ANNUAL REPORT 2014-15 3 . b) they have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year ended on March 31. c) they have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act. adequately mitigated continuously and same are reported to the Board of Directors along with the action taken report. • any shares to its employees under the Employees Stock Option Scheme. 2015. financial risk. Major risks are identified. 6 to the financial statements for details of investments made by the Company. 19. d) they have prepared the annual accounts on a going concern basis. 2015 and of the profit of the Company for that period. guarantees under Section 186 of the Act. Subsidiary Company The Company does not have any subsidiary or associate company or joint venture. voting or otherwise. Chartered Accountants. Please refer to the Note no. and e)  they have devised proper systems to ensure compliance with the provisions of all applicable laws and such systems are adequate and operating effectively. • any Sweat Equity Shares. The Internal Audit report is presented to the Board of Directors. Share Capital During the financial year under review. Risk Management Policy envisages assessment of strategy risk. The Board of Directors reviews the adequacy and effectiveness of the Company’s internal control system including internal financial controls.

Prohibition and Redressal) Act.400 013. Mumbai . For and on behalf of the Board of Directors sd/- During the financial year under review. A-Wing. May 19. .  Disclosure under the Sexual Harassment of Women at Workplace (Prevention. no complaint was filed under the Sexual Harassment of Women at Workplace (Prevention. Prohibition & Redressal) Act. Lower Parel (West). suppliers.Alternate Brand Solutions (India) Limited BOARD OF DIRECTORS’ REPORT 20. 2015 Registered Office: Alternate Brand Solutions (India) Limited. advertising and media agencies. Matulya Centre. Acknowledgements Your Directors take this opportunity to convey their appreciation to all the members. CIN: U92190MH2007PLC175549. Senapati Bapat Marg. bankers. 4th Floor. dealers. 2013. 21. 2013 in the Company. regulatory and governmental authorities and all other business associates for their continued support and confidence 4 ANNUAL REPORT 2014-15 Prashant Panday Chairman (DIN: 02747925) Mumbai.

Tel: 022 40983000/ 6662 0600. Matulya Centre. Subsidiary and Associate Companies: Sl. Name and Description of main products / services No. Fax: 022 6661 5030. Name and address of the Company No. Senapati Bapat Marg. Mumbai – 400 013. Matulya Centre. Senapati Bapat Marg. CIN % of shares held Holding Company [Section 2(46)] 1 Bennett.limited by shares v) Address of the Registered office : 4th Floor. Mumbai. ‘A’ Wing. 0 2 Times Infotainment Media Limited [‘TIML’] [Holding Company of U72900MH2002PLC134966 Entertainment Network (India) Limited] ‘A’ Wing. MGT-9 : EXTRACT OF ANNUAL RETURN as on the financial year ended on March 31. India Tel: 022 6662 0600. Event Management NIC Code of the Product/ service % to total turnover of the company 8230 0% III. 0 3 L92140MH1999PLC120516 Entertainment Network (India) Limited [Holding Company] ‘A’ Wing. Senapati Bapat Marg. Tel: 022 40983000/ 6662 0600. Mumbai – 400 013. Road. Lower Parel (West). 1. Principal business activities of the Company: All the business activities contributing 10% or more of the total turnover of the company shall be stated:Sl. 100 Subsidiary and Associate Company: Nil ANNUAL REPORT 2014-15 5 . if any : Not applicable II. Registration and other details: i) CIN : U92190MH2007PLC175549 ii) : October 31. D. 2014] I. and contact details Lower Parel (West). India. Particulars of Holding.BOARD OF DIRECTORS’ REPORT FORM NO. Mumbai – 400 013. Address and Contact details of Registrar and Transfer Agent.400001. 2007 Registration Date iii) Name of the Company : Alternate Brand Solutions (India) Limited iv) Category / Sub-Category of the Company : Public Limited Company. vi) Whether listed company Yes / No : No vii) Name. 2013 and rule 12(1) of the Companies (Management and Administration) Rules. Dr. Matulya Centre. Fax: 022 6661 5030. India. 2015 [Pursuant to section 92(3) of the Companies Act. Lower Parel (West). N. Coleman & Company Limited [Ultimate Holding Company] U22120MH1913PLC000391 The Times of India Building. Fax: 022 6661 5030.

00 0.00 0 0 0 0.00 0.00 Sub-total (A) (2) 0 0 0 0.00 0.00 0.00 0.00 0.00 0.00 0 0 0 0.Individuals 0 0 0 0. 2015) Total % of total shares % Change during the year % of total shares Demat physical 0 0.00 0 0 0 0.00 0 0 0 0.00 b) Banks / FI 0 0 0 0. P  ublic Shareholding (1) Institutions i) Others (specify) 0 0 0 0. of Shares held at the beginning of the year (April 1.00 (2) Non Institutions a) Bodies Corp.00 b) Individuals 0 0 0 i) Individual shareholders holding nominal share capital upto ` 1 lakh 0 0 0 0. Promoters (1) INDIAN f) Any Other (specify) Sub-total (A) (1) (2) FOREIGN B.00 0.00 0 0 0 0.00 0.00 0 0 0 0.00 0 0 0 0.00 0 0 0.00 0 0 0 0.00 0.00 0.00 h) Foreign Venture Capital Funds 0 0 0 0.00 e) Venture Capital Funds 0 0 0 0.00 ii) Overseas 0 0 0 0.00 c) Central Govt 0 0 0 0.00 e) Any Other . 0 0 0 0.00 0 0 0 0.00 0.00 0 0 0 0.00 0.00 0 0 0 0. Share Holding Pattern (Equity Share Capital Breakup as percentage of Total Equity) i) Category-wise Share Holding Category of Shareholders No.00 0.00 ANNUAL REPORT 2014-15 .00 0.00 0 1600000 0 100.00 0 0 0 0.00 0 0 0 0. 0 0 0 0..00 0.00 0. of Shares held at the end of the year (March 31.00 0 0.00 0 0 0 0. 6 0 0 c) Others (specify) 0 0 0 0.00 0 0 0 0.00 0 0 0 0.00 g) FIIs 0 0 0 0.00 0 0 0 0. Shares held by Custodian for GDRs & ADRs 0 0 0 0.00 0 0 0 0.00 0 1600000 0 100.00 0 1600000 0 100.00 0.00 f) Insurance Companies 0 0 0 0. 2014) Demat physical a) Individuals/ HUF 0 0 b) Central Government 0 0 c) S tate Government(s) 0 d) B  odies Corporate e) Banks / FIII Total No.00 0.00 d) Banks / FI 0 0 0 0.00 a) Mutual Funds 0 0 0 0.00 0 0 0 0 0 Sub-total (B) (2) 0 0 0 0.00 0.00 0 1600000 1600000 100.00 c) Bodies Corp.00 0 0 0 0.00 0.00 d) State Govt(s) 0 0 0 0.00 0 0 0 0.00 b) O  ther – Individuals 0 0 0 0.00 0 0 0 0.00 0.00 0.00 C.00 0.00 0.00 0 0 0 0.00 0.00 Total shareholding of Promoter (A) = (A (1)+(A(2) 0 1600000 1600000 100.00 0 1600000 0 100.00 Sub-total (B) (1) 0 0 0 0.00 Total Public Shareholding (B)=(B)(1)+ (B)(2) 0 0 0 0.Alternate Brand Solutions (India) Limited BOARD OF DIRECTORS’ REPORT IV.00 0.00 ii) Individual shareholders holding nominal share capital in excess of ` 1 lakh 0 0 0 0.00 a) NRIs.00 0 0 0 0.00 0 0 0 0.00 0.00 0 0 0 0.00 0 0 0 0.00 0 0 0 0.00 0.00 Grand Total (A+B+C) 0 1600000 1600000 100.00 0 0 0 0.00 0.00 i) Indian 0 0 0 0.00 0 1600000 1600000 100.00 A.00 0.

This holding is already included in the Promoter’s shareholding] At the beginning of the year (April 1. of shares % of total % of Shares Pledged / Shares of encumbe red the company to total shares % change in shareholding during the year Entertainment Network (India) Limited [including 6 shares held jointly with the Nominees) 1600000 100 Nil 1600000 100 Nil Nil Total 1600000 100 Nil 1600000 100 Nil Nil iii) Change in Promoters’ Shareholding (please specify.00 Date wise Increase / Decrease in  Share holding during the year: Nil movement during the year At the end  of the year (March 31. This holding is already included in the Promoter’s shareholding] At the beginning of the year (April 1. No Shareholder’s Name Shareholding at the beginning of the year (April 1. of shares 1 % of total shares of the company 1 % of total shares of the company 0. Director [holding share as a nominee and jointly with the holding company.00 1 0. since the Company is a 100% subsidiary of Entertainment Network (India) Limited. 2014) 1 0. S. of shares 1 % of total Shares of the company Shareholding at the end of the year (March 31. Sivakumar. 2015) 1 0.00 Mr. 2015) % of Shares Pledged / encumbe red to total shares No.00 Date wise Increase / Decrease in  Share holding during the year: Nil movement during the year At the end  of the year (March 31. Promoters and Holders of GDRs and ADRs): Not applicable. of shares Mr.00 V. Name No Shareholding at the beginning of the year No. Director [holding share as a nominee and jointly with the holding company. Prashant Panday.00 1 0.00 1 0. This holding is already included in the Promoter’s shareholding] At the beginning of the year (April 1. 2015) 3 No. N. v) Shareholding of Directors and Key Managerial Personnel: Sl.00 1 0. iv) Shareholding Pattern of top ten Shareholders (other than Directors.BOARD OF DIRECTORS’ REPORT ii) Shareholding of Promoters Sl. 2014) No. Director [holding share as a nominee and jointly with the holding company. if there is no change): There is no change in the Promoters’ Shareholding. Subramanian.00 Mr. 2015) 1 0. 2014) 2 Cumulative Shareholding during the year 1 0. 2014) Date wise Increase / Decrease in  Share holding during the year: Nil movement during the year At the end  of the year (March 31. Indebtedness Indebtedness of the Company including interest outstanding/accrued but not due for payment Secured Loans excluding deposits Unsecured Loans Deposits Total Indebtedness Indebtedness at the beginning of the financial year i) Principal Amount 0 0 0 0 ii) Interest due but not paid 0 0 0 0 iii) Interest accrued but not due 0 0 0 0 Total (i+ii+iii) 0 0 0 0 0 0 0 0 Change in Indebtedness during the financial year • Addition • Reduction 0 0 0 0 Net Change 0 0 0 0 ANNUAL REPORT 2014-15 7 .

Penalties / Punishment/ Compounding of Offences : Type Section of the Companies Act  Brief  Description  Details of Penalty / Punishment / Compounding fees imposed Authority [RD / NCLT / COURT] Appeal made. 2015 8 ANNUAL REPORT 2014-15 .Alternate Brand Solutions (India) Limited BOARD OF DIRECTORS’ REPORT Secured Loans excluding deposits Deposits Unsecured Loans Total Indebtedness Indebtedness at the end of the financial year i) Principal Amount 0 0 0 0 ii) Interest due but not paid 0 0 0 0 iii) Interest accrued but not due 0 0 0 0 Total (i+ii+iii) 0 0 0 0 VI. if any  (give details) Penalty Nil Nil Nil Nil Nil Punishment Nil Nil Nil Nil Nil Compounding Nil Nil Nil Nil Nil Penalty Nil Nil Nil Nil Nil Punishment Nil Nil Nil Nil Nil Compounding Nil Nil Nil Nil Nil A) Company B) Directors C) Other officers in default Penalty Nil Nil Nil Nil Nil Punishment Nil Nil Nil Nil Nil Compounding Nil Nil Nil Nil Nil For and on behalf of the Board of Directors sd/Prashant Panday Chairman (DIN: 02747925) Mumbai. Remuneration of Directors and Key Managerial Personnel The Directors of the Company do not receive any remuneration or commission from the Company. VII. May 19. The Company does not have any Key Managerial Personnel.

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. whether due to fraud or error. issued by the Institute of Chartered Accountants of India. the Statement of Profit and Loss and Cash Flow Statement for the year then ended. 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. Report on Other Legal and Regulatory Requirements 1. as well as evaluating the overall presentation of the financial statements. we give in the Annexure a statement on the matters specified in paragraphs 3 and 4 of the Order. In making those risk assessments. 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. including the Accounting Standards specified under Section 133 of the Act. whether due to fraud or error. We have taken into account the provisions of the Act. making judgments and estimates that are reasonable and prudent. The procedures selected depend on the auditor’s judgment. financial performance and cash flows of the Company in accordance with accounting principles generally accepted in India. read with Rule 7 of the Companies (Accounts) Rules. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by the Company’s Directors. Opinion In our opinion and to the best of our information and according to the explanations given to us. 2015. including the assessment of the risks of material misstatement of the financial statements. which comprise the Balance Sheet as at March 31. and its cash flows for the year ended on that date. as specified under Section 143(10) of the Act. selection and application of appropriate accounting policies. We conducted our audit in accordance with the Standards on Auditing. 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 effectiveness of such controls. implementation and maintenance of adequate internal financial control that were operating effectively for ensuring the accuracy and completeness of the accounting records. 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. 2013 (“the Act”) with respect to the preparation of these financial statements that give a true and fair view of the financial position. 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. 2015 (“the Order”) issued by the Central Government of India in terms of sub-section (11) of section 143 of the Act. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. As required by the Companies (Auditor’s Report) Order. relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement. Auditor’s Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. and a summary of significant accounting policies and other explanatory information. its profit. ANNUAL REPORT 2014-15 9 . and the design.INDEPENDENT AUDITORS’ REPORT To the Members of Alternate Brand Solutions (India) Limited Report on the Financial Statements We have audited the accompanying financial statements of Alternate Brand Solutions (India) Limited (“the Company”). the 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 March 31. 2015.

2015. Batliboi & Associates LLP Chartered Accountants ICAI Firm Registration Number: 101049W per Govind Ahuja Place of Signature: Mumbai Date: May 19.R. and (f) 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. read with Rule 7 of the Companies (Accounts) Rules. (e) On the basis of written representations received from the directors as on March 31. iii. 2015. (c) The Balance Sheet. ii. 2015 10 ANNUAL REPORT 2014-15 Partner Membership Number: 48966 . As required by section 143 (3) of the Act. and Cash Flow Statement dealt with by this Report are in agreement with the books of account. 2014. and taken on record by the Board of Directors. There were no amounts which were required to be transferred to the Investor Education and Protection Fund by the Company. Statement of Profit and Loss. The Company does not have any pending litigations which would impact its financial position. the aforesaid financial statements comply with the Accounting Standards specified under section 133 of the Act. from being appointed as a director in terms of section 164 (2) of the Act.Alternate Brand Solutions (India) Limited INDEPENDENT AUDITORS’ REPORT 2. in our opinion and to the best of our information and according to the explanations given to us: i. (b) 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. none of the directors is disqualified as on March 31. For S. we report that: (a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purpose of our audit. (d) In our opinion. The Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses. 2014.

(iii) According to the information and explanations given to us. the provisions of clause 3 (iii) of the Order are not applicable to the Company and hence not commented upon. wealth tax. the Company has not rendered any services during the year. cess and other material statutory dues applicable to it. (d) There were no amounts which were required to be transferred to the Investor Education and Protection Fund by the Company in accordance with the relevant provisions of the Companies Act. (x) According to the information and explanations given to us. the requirements under paragraph 3(i) of the Order are not applicable to the Company. for the services of the Company. Accordingly. the Company has not granted any loans. (vi) To the best of our knowledge and as explained. the Company has not given any guarantee for loans taken by others from bank or financial institutions. The provisions relating to provident fund. employees’ state insurance. at the year end. the requirements under paragraph 3(ii) of the Order are not applicable to the Company. firms or other parties covered in the register maintained under section 189 of the Act. customs duty. the Central Government has not specified the maintenance of cost records under clause 148 (1) of the Act. we report that no fraud on or by the Company has been noticed or reported during the year. Therefore. for a period of more than six months from the date they became payable. (c) According to the information and explanation given to us. wealth-tax. (vii) (a) The Company is regular in depositing with appropriate authorities undisputed statutory dues including income-tax. excise duty and value added tax are not applicable to the Company. employees’ state insurance. For S. (xii) Based upon the audit procedures performed for the purpose of reporting the true and fair view of the financial statements and as per the information and explanations given by the management. excise duty and value added tax are not applicable to the Company. (xi) The Company did not have any term loans outstanding during the year. The activities of the Company do not involve purchase of inventory and fixed assets and the sale of goods. accordingly. (iv) In our opinion and according to the information and explanations given to us.R. (viii) The Company has no accumulated losses at the end of the financial year and it has not incurred cash losses in the current and immediately preceding financial year. (b) According to the information and explanations given to us. secured or unsecured to companies. no undisputed amounts payable in respect of income-tax. excise duty and value added tax are not applicable to the Company. customs duty. service tax. The provisions relating to provident fund.Annexure to the Independent Auditors’ Report Referred to in Paragraph 1 under the heading “Report on other legal and regulatory requirements” of our report of even date (i) The Company does not have any fixed assets and. wealth-tax. Batliboi & Associates LLP Chartered Accountants ICAI Firm Registration Number: 101049W per Govind Ahuja Place of Signature: Mumbai Date: May 19. accordingly. 2015 Partner Membership Number: 48966 ANNUAL REPORT 2014-15 11 . (v) The Company has not accepted any deposits from the public. The provisions relating to sales-tax. cess and other material statutory dues were outstanding. the provisions of clause 3(ix) of the Order are not applicable to the Company. customs duty. there are no dues of income tax. (ii) The Company’s business does not involve inventories and. sales-tax. (ix) The Company has not issued any debentures or availed any loan from financial institutions or banks. service tax. 1956 (1 of 1956) and rules made thereunder. service tax and cess which have not been deposited on account of any dispute. sales-tax.

For S.R.605. 2015 12 1-18 ANNUAL REPORT 2014-15 N. Batliboi & Associates LLP Firm Registration No.435 71.101. 2014 ` EQUITY AND LIABILITIES Shareholders' funds Share capital 2 16.000. 2015 ` Figures as at March 31.597.314 Long-term loans and advances 7 4.456 Cash and bank balances 8 468.000.000 16. 2015 Notes Figures as at March 31.865.505 Short-term loans and advances 9 473.160 71.626 Trade payables 4 421. 101049W Chartered Accountants For and on behalf of the Board of Directors Govind Ahuja Partner Membership No.300 Current liabilities TOTAL ASSETS Non-current assets Non-current investments 6 65.342 5.160 71.000 Reserves and surplus 3 55.239 Other current liabilities 5 – 53.300 Current assets TOTAL NOTES FORMING PART OF THE FINANCIAL STATEMENTS As per our report of even date.562.712.295 6.075 557.025 71.984 367.562.539 59.142.085 55.712.754. 48966 Prashant Panday Chairman DIN: 02747925 Mumbai Dated: May 19.141. Subramanian Director DIN: 03083775 .Alternate Brand Solutions (India) Limited BALANCE as at SHEET March 31.

099. For S. 2015 Other income Notes 2014-2015 ` 2013-2014 ` 10 1.187.395 111.703.040.040.02 1. 101049W Chartered Accountants For and on behalf of the Board of Directors Govind Ahuja Partner Membership No.334 1.939 987.768 998.252 Basic 0.393 Total revenue Expenses: Other expenses 11 903.064 41.416) 39.246 (6.296 Finance cost 12 94.329 9. Batliboi & Associates LLP Firm Registration No.06 Total expenses Profit before taxation Tax expense: (Refer Note 1(vii)) Current tax Minimum alternate tax credit entitlement Tax write backs for earlier years Profit for the year Earnings per equity share [nominal value per share: ` 10 (2013-14: `10)] (Refer Notes 1(vi)) NOTES FORMING PART OF THE FINANCIAL STATEMENTS 17 1-18 As per our report of even date.06 Diluted 0.02 1.286.459 1.200 226. 48966 Prashant Panday Chairman DIN: 02747925 N.R.393 1.753) – (558.946) (183.286.STATEMENT OF PROFIT for the year ended & LOSS March 31. 2015 ANNUAL REPORT 2014-15 13 .713 1.047 2. Subramanian Director DIN: 03083775 Mumbai Dated: May 19.047 2.

329 (1.435) (515.225) 577.199) 17.810. 41.027.822) 94.505 (296. Batliboi & Associates LLP Firm Registration No.998 367.822 (7.505 367.Alternate Brand Solutions (India) Limited CASH FLOW for the year ended Statement March 31. 48966 Prashant Panday Chairman DIN: 02747925 Mumbai Dated: May 19.984 101.505 As per our report of even date.768.824 (326.115) (2. Subramanian Director DIN: 03083775 . 2015 2014-2015 ` A) CASH FLOW FROM OPERATING ACTIVITIES : Profit before taxation Adjustments for : Interest income Interest expense Profit on sale of current investments (net) Profit on sale of non-current investments (net) Bad Debts written off Operating (loss) before working capital changes Adjustments for changes in working capital : (Decrease) in trade payables (Decrease) / Increase in other current liabilities Cash (used in) operations Income tax refund (net) Net cash generated from Operating Activities (A) B) CASH FLOW FROM INVESTING ACTIVITIES : Interest received Purchase of non-current investments Proceeds from sale of current investments Proceeds from sale of non-current investments Net cash (used in) Investing Activities (B) C) CASH FLOW FROM FINANCING ACTIVITIES : Interest paid Net cash (used in) Financing Activities (C) Net Increase / (Decrease) in Cash and Cash Equivalents (A)+(B)+(C) Cash and Cash Equivalents as at the beginning of the year Cash and Cash Equivalents as at the end of the year NOTES ON CASH FLOW STATEMENT : 1 Cash and cash equivalents at the end of the year as per Balance Sheet (Refer Notes 1 (v) and 8 in the financial statements).984 468.768 (31.607 (19.052 (490.479 367.867 15.027.282.607) 111.164) (53.866) 5.254.479 (111.395 – (12.984 367.766 5.000) – 500.000 (5.296) (136.283.254.668 1.768) (296.505 468.000 – (15.572.395) (94.714) 6.000) 1.472.R.713 1. 101049W Chartered Accountants For and on behalf of the Board of Directors Govind Ahuja Partner Membership No.493) 663.100.187.350.178) 2. 2015 14 2013-2014 ` ANNUAL REPORT 2014-15 N.768) (111. 2 Previous year’s figures have been regrouped and rearranged wherever necessary.493) 468.393) (94.786) – – (987.100.395) 101.963 (1.995. For S.

iv. For the purpose of calculating diluted earnings per share. Any revision to such accounting estimates is recognised prospectively in the accounting period in which such revision takes place except where otherwise noted. demand deposits with banks. iii. iii. Significant accounting policies i. other short-term highly liquid investments with original maturities of three months or less. However. Revenue Recognition a. All other investments are termed as long term investments. Earnings Per Share Basic earnings per share is calculated by dividing the net profit or loss for the period attributable to equity shareholders by the weighted average number of equity shares outstanding during the period. Cash and Cash Equivalents In the Cash Flow Statement. Use of Estimates The preparation of financial statements in accordance with the generally accepted accounting principles requires Management to make judgments. cash and cash equivalents include cash in hand. estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities as at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. ii. Basis of Accounting The financial statements have been prepared in accordance with the generally accepted accounting principles in India under the historical cost convention on an accrual basis. the net profit or loss for the period attributable to equity shareholders and the weighted average number of shares outstanding during the period are adjusted for the effects of all dilutive potential equity shares. Dividend income on mutual fund units is accounted for when the right to receive the dividend is established by the balance sheet date. whichever is lower. The portion of long term investments which is expected to be realized within twelve months from the balance sheet date are classified as current investments. ANNUAL REPORT 2014-15 15 . Earnings considered in ascertaining the Company’s earnings per share is the net profit for the period after deducting preference dividends and any attributable tax thereto for the period. Profit on sale of units of mutual funds is recognised at the time of redemption and is determined as the difference between the redemption price and the carrying value. The accounting policies have been consistently applied by the Company and are consistent with those followed in the previous year. Actual results could differ from these estimates. vi. Interest income is recognised on a time proportionate basis taking into account the amount outstanding and the rate applicable. ii.part of the NOTES forming Financial Statements 1. Other Income i. provision for diminution in value is made to recognise a decline other than temporary in the value of the long term investments. (such as bonus shares) other than the conversion of potential equity shares that have changed the number of equity shares outstanding without a corresponding change in resources. Long term investments are stated at cost. The financial statements comply in all material respects with the accounting standards notified under section 133 of the Companies Act 2013. read together with paragraph 7 of the Companies (Accounts) Rules 2014. v. The weighted average number of equity shares outstanding during the period and for all periods presented is adjusted for events. Investments Investments that are intended to be held for not more than a year from the date of investment are classified as current investments. Current investments are carried at cost or fair value.

These are reviewed at each balance sheet date and adjusted to reflect the current best estimates. but probably will not. Current income tax and deferred tax are measured based on the amount expected to be paid to the tax authorities in accordance with the Income Tax Act.Alternate Brand Solutions (India) Limited part of the NOTES forming Financial Statements vii. Accordingly. Deferred tax assets are recognised only to the extent that there is reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realised. 1961. A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may. Where there is a possible obligation or a present obligation that the likelihood of outflow of resources is remote. subject to the consideration of prudence. Current tax assets and liabilities are offset when there is a legally enforceable right to set off the recognized amounts and there is an intention to settle the asset and the liability on a net basis. Minimum Alternate Tax (MAT) paid in accordance with tax laws which give rise to future economic benefits in the form of adjustment to future income tax liability is considered as an asset if there is convincing evidence that the Company will pay normal tax in future. Provisions and Contingent Liabilities The Company recognises a provision when there is a present obligation as a result of a past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation. 16 ANNUAL REPORT 2014-15 . viii. require an outflow of resources embodying economic benefit. no provision or disclosure is made. on timing differences. MAT is recognised as an asset in the balance sheet when it is probable that the future economic benefit associated with it will flow to the Company and the asset can be measured reliably. Income Taxes Tax expense comprises current and deferred tax. Deferred tax is recognised. being the difference between taxable income and accounting income that originate in one period and are capable of reversal in one or more subsequent periods. Provisions are not discounted to its present date value and are determined based on best estimates of the amount required to settle the obligation at the balance sheet date. Deferred tax assets and liabilities are measured using the tax rates that have been enacted or substantively enacted by the balance sheet date.

000.626 421.435 1.010 54.636) 1.600.000 16.037.000. (b) Shares held by Holding company Equity shares of ` 10 each held by Entertainment Network (India) Limited.000) Equity shares of ` 10 each fully paid-up Notes: (a) Terms attached to equity shares The Company has only one class of equity shares. (c) Details of shares held by shareholders holding more than 5% of the aggregate shares in the Company Entertainment Network (India) Limited.000 (Previous Year : 1.000 (100 %) ANNUAL REPORT 2014-15 17 .085 (705.616 55. the Holding Company and its nominees.) (in %) 1. 2015 ` Figures as at March 31.000 Shares (nos.000 16. the Holding Company and its nominees.000.616 39.000 Shares (nos.600.600.) 1.000.000 (100 %) Shares (nos.104.000.000) Equity shares of Rupees 10 each Issued and Subscribed 1.600.239 – – 53.010 997. The par value per share is ` 10.000 Shares (nos.703.000 20. 2014 ` 20.000.101.459 1.600.000 16.part of the NOTES forming Financial Statements NOTE 2 : SHARE CAPITAL Authorised Capital 2.600. Each shareholder is eligible for one vote per share held.075 557.075 55.) 1.000 16.000.) (in %) 54.239 557.252 997.141.000.000 (Previous Year : 2.435 53.075 421. NOTE 3: RESERVES AND SURPLUS Securities Premium Account Surplus in Statement of Profit and Loss Balance as at the beginning of the year Add: Profit for the year Balance as at the end of the year NOTE 4 : TRADE PAYABLES Trade Payables (Refer Note 13) NOTE 5 : OTHER CURRENT LIABILITIES Other payables Statutory dues Figures as at March 31.104.

2015 ` NOTE 7 : LONG-TERM LOANS AND ADVANCES (Unsecured considered good unless otherwise stated) Other long term loans and advances Minimum alternate tax credit entitlement Advance tax and tax deducted at source [Net of provision of ` 1.Growth Option .Treasury Plan .042.000 each Reliance Medium Term Fund .LFIG.413 3.295 6.832 5.984 468.002.533 26.533 26.000 each Reliance Money Manager Fund .456 468.065 22.376 (Previous Year : ` 1. of ` 10 each 9.217 (Previous Year : ` 66.Growth Plan Growth Option of ` 1. Non-Current (Unquoted .Growth Plan .Growth Plan .113 7.884.000.025 473.228.142.Treasury Plan .043 4.863 2.793.LPIG.200 (Previous Year : ` 804.342 5.113 7.619 5.700.934.000 65.168.Alternate Brand Solutions (India) Limited part of the NOTES forming Financial Statements Figures as at March 31.937 2.130)] NOTE 8 : CASH AND BANK BALANCES Cash and cash equivalents: Balance with banks: Current Accounts NOTE 9 : SHORT-TERM LOANS AND ADVANCES (Unsecured considered good unless otherwise stated) Advance tax and tax deducted at source [Net of provision of ` 9.Growth Plan .065 22. 2015 Units ` Figures as at March 31.556.314 Note: Aggregate market value of unquoted mutual fund units held by the Company based on the NAV declared on the balance sheet date by the mutual fund is ` 80.983)] 18 ANNUAL REPORT 2014-15 Figures as at March 31.000 each Reliance Liquid Fund .865.605.832 965.505 473.Growth Option IPGP.903 9.800.Growth Option .597.000 965. 2014 ` 2.Direct .025 .064.884.505 367.597. Figures as at March 31.Mutual Funds) at cost Reliance Liquid Fund .935).539 59.358 2.000.812.700.342 5.863 9. of ` 1.844 832 2.754.984 367. 2014 Units ` NOTE 6 : INVESTMENTS Non-Current investments (Refer Note 1(iv)) Non-Trade. of ` 1.

Segment Information The company is exploring potential new business opportunities and does not have any business or reporting segment for the year.786 – 2.569 1. 2014 March 31.455 67.587 987.104 198.000. Amounts recognised for Defined Benefit Plans in current year and previous four years (`) March 31.047 2. 2011 Defined Benefit Obligation – – – 105.part of the NOTES forming Financial Statements NOTE 10 : OTHER INCOME Interest income (Refer Note 1(iii)(a)(ii)) On income-tax refund Profit on sale of current investments (net) (Refer Note 1(iii)(a)(iii)) Profit on sale of non-current investments (net) (Refer Note 1(iii)(a)(iii)) 2014-2015 ` 2014-2015 ` 1. as required to be disclosed under the Micro.000 2.213 577.697) 618. 2006.629 – 2.983 903.296 94.027. Small and Medium Enterprises. 2013 March 31.000. ANNUAL REPORT 2014-15 19 .607 31.708 Surplus / (Deficit) – – – (105.881 514. to whom the Company owes dues. This information.360 1.569) (1.225 1. has been determined to the extent such parties have been identified on the basis of information available with the Company. The Company did not have any employees during the current year and the previous year.708) Experience Adjustment on Plan Liabilities (Gain) / Loss – – – (646.824 1. Trade payables There are no Micro.395 111.393 12. Small and Medium Enterprises Development Act. 2015 March 31. 2012 March 31.040.395 94.396 15.199 112.768 111.768 NOTE 11 : OTHER EXPENSES Rates and taxes Legal and professional fees Payment to Auditors As Auditors: Audit fees Reimbursement of expenses Bad Debts written off Miscellaneous expenses NOTE 12 : FINANCE COST Interest Expense: On others 13.254.286. 14.939 400. Hence. the disclosures relating to Defined Contribution Plans and Defined Benefit Plans are not applicable.822 – 12.

Parties where control exists Bennett.00 10. Previous year’s figures have been audited by M/s. The previous year figures have been reclassified to conform to this year’s classification. Related Party Disclosures as required under Accounting Standard 18 – “Related Party Disclosures” are given below: i. Signatures to Notes “1” to “18” forming part of the financial statements.252 1. 2015 20 ANNUAL REPORT 2014-15 N.000 1. Bangalore. Price Waterhouse & Co. 48966 Prashant Panday Chairman DIN: 02747925 Mumbai Dated: May 19.600. Profit for the year (`) (A) Weighted average number of equity shares (B) Earnings per share – basic and diluted (`) (A/B) Nominal value of an equity share (`) 2014-2015 2013-2014 39..06 10.000 0. As per our report of even date.703.R. Subramanian Director DIN: 03083775 .600.00 18. Earnings Per Share (Basic and Diluted) The number of shares used in computing Basic Earnings Per Share (EPS) is the weighted average number of shares outstanding during the year. Batliboi & Associates LLP Firm Registration No. For S. 17. Coleman & Company Limited (BCCL) – Ultimate Holding Company * Times Infotainment Media Limited (TIML) – Holding Company of Entertainment Network (India) Limited * Entertainment Network (India) Limited (ENIL) – Holding Company * * There are no transactions during the year.459 1.02 1.Alternate Brand Solutions (India) Limited part of the NOTES forming Financial Statements 16. 101049W Chartered Accountants For and on behalf of the Board of Directors Govind Ahuja Partner Membership No.