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) Provision for taxation for the year is made allowing deductions considering compliance of prescribed conditions under Section 80HH including approval of delayed realization and other provisions of the Income Tax Act, 1961. c) Deferred Tax Liabilities (Net) as at March 31, 2004 is adjusted for deferred tax assets of Rs./Thousand 40,123 (17,323) taken over on amalgamation. d) The components of deferred tax balances as at 31st March: (Rs. / Thousand) Particulars Deferred Tax Assets 2004 2003 Provision for retirement benefits 9,966 10,999 Expenses allowable on payment basis 112,571 94,495 Provision for doubtful debts 59,488 33,161 Total Deferred Tax Liabilities 182,025 138,655 Depreciation 178,256 162,028 Others 18,938 46,492 Total 197,194 208,520 Deferred Tax Liabilities - Net 15,169 69,865 12. Leases (a) Additional information on assets taken on lease: Particulars 2004 (Rs. / Thousand) 2003 (i) In respect of assets taken on finance lease prior to April 1, 2001 (Assets not capitalized) uture lease rental obligation 1,254 5,875 (ii) In respect of assets taken on finance lease after April 1, 2001: (Assets capitalized) Reconciliation of minimum lease payments and present value : Minimum Lease Payments as at Not Later than one year 5,065 4,016 Later than one year and not later than five years 2,840 2,801 Total 7,905 6,817 Less : Amount representing Interest 771 968 Present Value of Minimum Lease Payments 7,134 5,849 Less : Amount due not later than one year 4,470 2,219 Amount due later than one year and not later than five years 2,664 3,629 (b) In respect of assets taken on operating lease during the year : The Company leases office, residential facilities and plant and machinery (including equipments) etc. under cancellable/non-cancellable agreements that are renewable on a periodic basis at the option of both the lessee and the lessor. The initial tenure of the lease generally is for 11 months to 94 months. (Rs. / Thousand) Particulars 2004 2003 Lease rental charges for the year uture lease rental obligation payable (under non-cancellable leases) 179,643 202,690 Not later than one year 3,060 38,820 Later than one year but not later than five years 5,385 7,050 ZEE TELEILMS LIMITED
(c) In respect of assets given under operating lease. (i) The Company has given integrated receiver decoder (IRD) boxes included under the head of Plant and Machinery in ixed Assets under cancellable operating lease agreement. The initial term of the lease is for 12 months. (ii) The lease rental revenue for the year is Rs./Thousand 25,299 (26,298) (iii) Rs./ Thousand 2,916 (1,579) being loss on impairment has been debited to the Profit and Loss Account. 13. Related Party Transactions (i) List of Parties where control exists Subsidiary Companies a) Wholly Owned Central Bombay Cable Network Limited; Dakshin Media Limited**; Integrated Subscriber Management Services Limited; New Era Entertainment Network Limited; Siticable Broadband South Limited; Siticable Network Limited; Zee Interactive Learning Systems Limited; Asia Today Limited; Asia TV (Africa) Limited*; Asia TV Limited – UK; Asia TV (Netherlands) Limited; Expand ast Holdings Limited; Expand ast Holdings (Singapore) Pte. Limited; Software Suppliers International Limited*; Winterheath Company Limited; Zee MGM Limited*; Zee Multimedia Worldwide Limited, BVI; Zee Multimedia Worldwide Limited, Mauritius; Zee Telefilms (International) Limited*; Zee TV South Africa (Proprietary) Limited; Zee TV (USA) Inc.; * merged with Asia Today Limited w.e.f. March 31, 2004. ** Amalgamated with Zee Telefilms Limited [Refer Note 3(i)]. b) Others Zee Turner Limited ETC Networks Limited Econnect India Limited Padmalaya Enterprises Private Limited Padmalaya Telefilms Limited. Padmalaya Telefilms Inc. Cable Broadcasting Network- Partnership irm (ii) Associate Karma Network Limited (iii) Other Related parties with whom transactions have taken place during the year and balance outstanding as on the last day of the year. Agrani Convergence Limited; Agrani Satellite Services Limited; Ambience Advertising Private Limited; ASC Enterprises Limited; Ashok Goel; Asia TV (USA) Limited; Asian Satellite Broadcasting Private Limited; Briggs Trading Company Private Limited; Buddha ilms Limited; Churu Trading Company Private Limited; Continental Drug Company Private Limited; Credensys Software Technologies Limited; Cyquator Technologies Limited; Essel Propack Limited; E-City Entertainment (India) Private Limited; E-City Retail Private Limited; E-Cool Gaming Solution Private Limited; Essel Agro Limited; Essel Corporate Services Private Limited; Essel International Limited; Essel Shyam Communication Private Limited; Essel Shyam Technologies Limited; Ganjam Trading Company Private Limited; Intrex India Limited; Jawahar Goel; Jay Properties Private Limited; Jayneer Capital Private Limited; Mediavest Private Limited; Metropolitan Leasing Limited; Prime Publishing Limited; Pan India Paryatan Limited; Pan India Network Infrawest Private Limited; Premier inance and Trading Company Limited; Prajatma Trading Company Private Limited; Pratham Media Entertainment Private Limited; Rama Associates Limited; Rankey Investment and Trading Company Limited; RKJ Woods Plantation Private Limited; Taleem Research oundation; Tashi De Lek Entertainment Solution Private Limited; Ultra Entertainment Private Limited; UTN Worldwide Limited; Veena Investments Private Limited; Widescreens Holdings Private Limited; Zee Link Pty Limited; Zee Rajeshri ; Zee Sports Limited; Zee Network Employees Welfare Trust. Directors / Key Management Personnel Mr. Subhash Chandra; Mr. Laxmi Narain Goel; Mr. Ashok Kurien; Mr. D. P. Naganand; Mr. B.K. Syngal, Mr. Nemichand Jain; Mr. S.P. Talwar 71
Page 18 and 19:
Directors’ Report Your Directors
Page 20 and 21:
proper explanation relating to mate
Page 22 and 23: Name of the The financial Holding E
Page 24 and 25: Board members have complete and unf
Page 26 and 27: Details of last three Annual Genera
Page 28 and 29: AShareholders’ Information 1. Dat
Page 30 and 31: 15. Change of Address Members holdi
Page 32 and 33: 24. Distribution of Shareholding as
Page 34 and 35: ● Zee broadcasts Zee TV and Alpha
Page 36 and 37: transparency and implementation of
Page 38 and 39: There is also a significant target
Page 40 and 41: in 2004, which were partially offse
Page 42 and 43: year as against Rs. 3,199.3 million
Page 44 and 45: Prior Period Adjustments (Net) Prio
Page 46 and 47: numbers. It is also possible that u
Page 48 and 49: The Company primarily competes agai
Page 50 and 51: suspended the implementation of CAS
Page 52 and 53: committee with representatives from
Page 54 and 55: Annexure to Auditors’ Report Anne
Page 56 and 57: Balance Sheet as at March 31, Sched
Page 58 and 59: Schedules to the Balance Sheet as a
Page 60 and 61: Schedule 5 : ixed Assets (at cost)
Page 62 and 63: ZEE TELEILMS LIMITED (Rs. in ’000
Page 64 and 65: Schedules to the Profit and Loss Ac
Page 66 and 67: Schedule 18 : Significant Accountin
Page 68 and 69: 12. Leases a) Operating Lease Lease
Page 70 and 71: 7. Disclosures a) Share application
Page 74 and 75: (iv) Transactions with Related Part
Page 76 and 77: i) Details of Remuneration to direc
Page 78 and 79: e) Other Information Particulars Ea
Page 80 and 81: Cash low Statement for the year end
Page 82 and 83: Last ive Years’ inancial Highligh
Page 84 and 85: Auditors’ Report To the Board of
Page 86 and 87: C Consolidated Balance Sheet as at
Page 88 and 89: Schedules to Consolidated Balance S
Page 90 and 91: Schedules to Consolidated Balance S
Page 92 and 93: Schedulse to Consolidated Profit an
Page 94 and 95: Schedule 18 - Significant Accountin
Page 96 and 97: (b) Tangible fixed assets (i) Tangi
Page 98 and 99: on actuarial valuation are charged
Page 100 and 101: (c) The components of the deferred
Page 102 and 103: Propack Limited; Essel Agro Limited
Page 104 and 105: Business Segment (inancial Year 200
Page 106: BConsolidated Cash low Statement as
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