Future Market Networks 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
1. The above results were reviewed by the Audit Committee and were thereafter approved by the Board of Directors of the Company at Its meeting held on January 30, 2019.
2. The above financial results have been prepared in accordance with Indian Accounting Standards (Ind AS) - 34 "lnterim Financial Reporting· as prescribed under section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and the Companies (Indian Accounting Standards) Amendment Rules, 2016.
3. The Limited review as required under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015 has been completed by the Auditors of the Company and the related report is being submitted to the concerned stock exchanges.
4. Figures of the previous financial period I year have been re-arranged / re-grouped / reclassified whereever necessary.
5. The Company operates In only one segment namely "Property and Related Services".
6. In the Arbitration proceedings before the sole Arbitrator, appointed by the Hon'ble High Court of Calcutta, in respect of disputes arose out of the termination of a license agreement related to a shopping mall known as "Puja Mall", the Arbitrator has awarded a net amount of Rs. 12,90,52,3791- to the Claimant after allowing certain counter claims of the Company. The Company filed an appeal / application against the award in terms of the applicable provisions of law before the Hon'ble High Court of Calcutta. The Claimant also filed an appeal against the award.
7. The aforesaid results have been filed with Stock Exchanges under Regulation 33 of SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015 are also available on the Stock Exchanges websites (www.bseindia.com and www.nse,ndia.com) and on the website of the Company - www.fmn.co.in