TV18 Broadcast Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Dec 2018
Auditor and Management Disclosures and Notes for the quarterly results dated 31 Dec 2018
a. The Audit Committee has reviewed the above results and the Board of Directors has approved the above results and it's release at their respective meetings held on 15th January, 2019. The Statutory Auditors of the Company have carried out a Limited Review of the aforesaid results.
b. The Company operates in a single reportable operating segment 'Media Operations'. Hence there are no separate reportable segments as per Ind AS 108 “Operating Segments”. c. Other income includes net fair value gain/ (loss) on fair valuation of financial assets.
d. The National Company Law Tribunal, Mumbai Bench, has approved the Scheme of Merger by Absorption ("the Scheme") for the merger of the Company's direct/ indirect wholly owned subsidiaries, namely, Equator Trading Enterprises Private Limited, Panorama Television Private Limited, RVT Media Private Limited and ibn18 (Mauritius) Limited (“transferor Companies”) into the Company with appointed date as 1st April, 2016. The Scheme has become effective on 1st November, 2018. The merger has been accounted in accordance with Appendix C of Ind AS 103 'Business Combinations' and accordingly, results of all the previous periods have been restated by including results of the transferor companies from the beginning of the previous year i.e. 1st April 2017. Current tax for the quarter and nine months ended 31st December, 2018 includes the effect on tax expense consequent to the aforesaid merger.
e.The figures for the corresponding previous periods have been regrouped, wherever necessary, to make them comparable.