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NOTES ON ACCOUNTS
   
16. i) Managerial Remuneration to Managing/Whole Time Director(s):
 
(Rs. in Lacs)
 
 
31.03.2008
31.03.2007
Salary
15.84
16.60
Contribution to Provident Fund
1.51
1.46
Perquisites
2.57
2.48
Total
19.92
20.54
The Managing/Whole Time Directors of the Company were paid remuneration (without any commission) in accordance with the provisions of Schedule XIII to the Companies Act, 1956. Therefore computation of Net Profit under Section 198 of the Companies Act, 1956 is not applicable
ii) Transport,Travelling and Motor Car expenses & Sundry Expenses include Rs.10,70,703 for Directors Travelling and Rs.1,30,000 towards Director sitting fees.
   
17.. The Company has not received information from vendors regarding their status under "The Micro Small and Medium Enterprises Development Act,2006" and hence disclosure relating to amounts unpaid as at the year end together with interest paid/payable under this Act have not been given.
   
18.
The Board of Directos of the Company, in its meeting held on 16th January,2008 have approved scheme of amalgamation of Janata Cinemas Properties & Finance Ltd. and NAP Sales Private Limited in to the Company under Section 391-394 of the Companies Act,1956 with effect from 1st April,2007. Pending receipt of regulatory approvals, these financial statements do not take into the account the effect of the aforesaid seheme of amalgamation.
   
19.

No provision of interest has been made for the year amounting to Rs.6.97 Lacs (Previous Year Rs.16.01 lacs) and upto 31st March 2008 Rs.96.35 lacs (Previous Year Rs.89.38 lacs) on the Inter Corporate Deposits amounting to year end balance Rs.NIL (Previous Year 155 lacs) pending settlement.
   
20. Disclosures as required under Accounting Standard - 15 (Revised) on "Employees Benifits" for Gratuity & Leave Encashment.
 
A Assumptions
Particulats
Gratuity
31.03.08
Leave Encashment
31.03.08
Discount Rate
7.60%
7.60%
Rate of Return of Plan Assets
0.00%
0.00%
Salary Escalation
8.00%
8.00%
B Changes in Benifit Obligation
Particulars
Gratuity
31.03.08
Leave Encashment
31.03.08
Liability at beginning of the year
43,74,231
7,43,152
Interest Cost
3,54,313
60,195
Current Service Cost
2,86,935
64,205
Benifit Paid
(5,60,134)
(39,713)
Actuarial(gain)/Loss on obligation
9,36,617
1,39,687
Liability at the end of the year
53,91,962
9,67,526
C. Fair Value of Plan Asset
Particulars
Gratuity
31.03.08
Leave Encashment
31.03.08
Fair Value of Plan Assets at beginning of the year
Nil
Nil
Expected Return on Plan Assets
Nil
Nil
Contributions
Nil
Nil
Benifits Paid
Nil
Nil
Actuarial Gain /(Loss) for the period
Nil
Nil
Funded Status
Unfunded
Unfunded
D Expenses recognised in the Profit & Loss Account
Particulars
31.03.08
31.03.08
Current Service Cost
2,86,935
64,205
Interest Cost
3,54,313
60,195
Net Actuarial(gain)/Loss for the period
9,36,617
1,39,687
Liability Provided/paid already
(3,81,646)
5,03,751
Expenses Recognised in Profit & Loss account
11,96,519
7,67,838
E Balance Sheet Reconciliation
Particulars
Gratuity
31.03.08
Leave Encashment
31.03.08
Opening Net Liability
43,74,231
7,43,152
Expenses Charged to Profit & Loss account
11,96,519
7,67,838
Benifit Paid
(1,78,788)
(5,43,464)
Closing Liability as at 31.03.08
53,91,962
9,67,526
   
21. Figures of the Previous Year have been regrouped/ rearranged wherever considered necessary to make them comparable with Current Year's figures.
   
(RAJIV GUPTA)
(ARTI GUPTA)
(ARUN MITTER)
Chairman & Managing Director & Chief Executive Officer
Joint Managing Director
Executive Director
(SHARAD AGGARWAL)
(BHARAT KUMAR)
(O.N. AGGARWAL)
Director
Director
Director
(ABHIRAM SETH)
(M.K. MADAN)
Director
Vice President & Co. Secretary & Chief Financial Officer
 
As per our report of even date attached
for S.N. DHAWAN & CO.
Chartered Accountants
 
(S.K. KHATTAR)
Place: New Delhi
Partner
Dated:July 31, 2008
M.NO.84993
             
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