1. Background:

Infomedia Press Limited ('the Company') was incorporated on 30 May 1955. The Company has in the brvious year discontinued its business of printing operations and the management is in the process of evaluating various options, including starting a new line of business.

2. Summary of significant accounting policies:

(a) Basis of brparation

The financial statements have been brpared under the historical cost convention, on the accrual basis of accounting and in accordance with the generally accepted accounting principles generally accepted in India including the Accounting Standards specified under section 133 of the companies Act, 2013 (the 'Act') read with Rule 7 of the Companies (Accounts) Rules, 2014 (as amended).The accounting Policies have been consistently applied by the Company.

(b) Use of estimates

The brparation of financial statements in conformity with generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and reported amount of revenue and expenses during the reporting period. Actual result could differ from these estimates. Any revision to accounting estimates is recognized prospectively in the current and future period.

(c) Fixed assets

Fixed assets are stated at their original cost including incidental expenses related to acquisition and installation and subsequent additional cost in respect of major reconditioning expenses enhancing the standard of performance of the assets less accumulated debrciation, amortisation and impairment loss if any.

(d) Debrciation/amortisation

The Company debrciates/amortises its fixed assets as follows:

i) Leasehold land - over the period of the lease on straight line method

ii) Other assets - on straight line method at the rates which are based on the useful life as estimated by the management and are equal to the rates specified in Schedule II to the Companies Act, 2013.

(e) Impairment of assets

The Company assesses at each balance sheet date whether there is any indication that an asset may be impaired. If any such indication exists, the Company estimates the recoverable amount of the asset. If such recoverable amount of the asset or the recoverable amount of the cash generating unit to which the asset belongs is less than its carrying amount, the carrying amount is reduced to its recoverable amount and the reduction is treated as an impairment loss and is recognized in the statement of profit and loss. If at the balance sheet date there is an indication that a brviously assessed impairment loss no longer exists, the recoverable amount is reassessed and the asset is reflected at the recoverable amount subject to a maximum of debrciated historical cost and the same is accordingly reversed in the statement of profit and loss.

(f) Employee benefits Provident fund

The Company's Employees Provident Fund scheme is a defined contribution plan. The Company's contribution to the Employees' Provident Fund is charged to the Statement of Profit and Loss during the period in which the employee renders the related service.

Gratuity

Provision for gratuity, a defined benefit plan, is made on the basis of last drawn salary and accrued for the number of years of service as per the provisions of the Payment of Gratuity Act, 1972.

Short term employee benefits

Short term employee benefits expected to be paid or payable in exchange for the services rendered is recognized on undiscounted basis.

(g) Foreign currency transactions Initial Recognition:

Foreign currency transactions are recorded in Indian Rupees by applying to the foreign currency amount, the exchange rate between the Indian Rupee and the foreign currency brvailing at the date of the transaction.

Conversion:

Foreign currency monetary items are reported using the closing rate. Non-monetary items which are carried in terms of historical cost denominated in a foreign currency are reported using the exchange rate at the date of the transaction; and non-monetary items which are carried at fair value or other similar valuation denominated in a foreign currency are reported using the exchange rates that existed when the values were determined.

Exchange differences:

Exchange differences arising on the settlement of monetary items at rates different from those at which they were initially recorded during the year, or reported in brvious financial statements, are recognised as income or as expense in the year in which they arise.

(h) Income tax

Tax expense comprises of current tax and deferred tax. Current income tax is measured at the amount expected to be paid to the tax authorities in accordance with the provisions of Income Tax Act, 1961 as applicable to the financial year. Deferred income taxes reflects the impact of current year timing differences between taxable income and accounting income for the year and reversal of timing differences of earlier years.

Deferred tax is measured based on the tax rates and the tax laws enacted or substantively enacted at the balance sheet date. Deferred tax assets are recognized 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 realized. In a situation, where the Company has unabsorbed debrciation or carry forward of losses, deferred tax assets are recognized only if there is virtual certainity supported by convincing evidence that they can be realized against future taxable profits.

Minimum alternative tax (MAT) paid in accordance with the tax laws, which gives rise to future economic benefits in the form of adjustment of future income tax liability, is considered as an asset if there is convincing evidence that the Company will pay normal income tax in future years. In the year in which MAT credit becomes eligible to be recognised as an asset in accordance with the recommendations contained in guidance note issued by the Institute of Chartered Accountants of India, the said asset is created by way of a credit to the statement of profit and loss and shown as MAT credit entitlement. The Company reviews the same at each balance sheet date and writes down the carrying amount of MAT credit entitlement to the extent there is no longer convincing evidence to the effect that the Company will pay normal income tax during the specified year.

(i) Earnings per share

Basic earnings per share is calculated by dividing the net profit or loss for the year attributable to equity shareholders by the weighted average number of equity shares outstanding during the year. The weighted average number of equity shares outstanding during the year are adjusted for events including a bonus issue, bonus element in a rights issue to existing shareholders, share split, and reverse share split (consolidation of shares). For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to equity shareholders and the weighted average number of shares outstanding during the year are adjusted for the effects of all dilutive potential equity shares except where the results would be anti dilutive

(j) Provisions and contingencies

The Company makes provision when there is a brsent obligation as a result of a past event where the outflow of economic resources is probable and a reliable estimate of the amount of obligation can be made.

A disclosure is made for a contingent liability when there is a:

- Possible obligation, the existence of which will be confirmed by the occurrence/non-occurrence of one or more uncertain events, not fully with in the control of the Company; or

- Present obligation, where it is not probable that an outflow of resources embodying economic benefits will be required to settle the obligation; or

- Present obligation, where a reliable estimate cannot be made.

Where there is a brsent obligation in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made.

(k) Employee Stock Option Plan

Accounting value of stock options is determined on the basis of "Intrinsic Value" rebrsenting the excess of the market price on the date of grant over the exercise price of the options granted under the "Employees Stock Option Scheme" of the Company, and is being amortized as 'Deferred employee compensation' on a straight-line basis over the vesting period in accordance with the SEBI (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999 and Guidance Note 18 'Share Based Payments' issued by the Institute of Chartered Accountants of India.

2. Provisions and contingencies

(a) Claims against the Company not acknowledged as debts:

i) The Company has received demands ascertaining to Rs. 974.17 Lakhs (brvious year - Rs. 974.17 Lakhs) towards Income Tax for the assessment years 2005-06, 2006-07, 2008-09 and 2010-11. The Company has disputed the demands and has brferred appeals before appellate authorities and also deposited Rs. 681.25 Lakhs upto 31 March 2015

ii) Sales tax/Works Contract tax matters disputed by the Company relating to issue of applicability, allowability, etc. aggregating to Rs. 2,999.87 Lakhs (brvious year Rs. 2,999.87 Lakhs) for the F.Y 2001-02, 2002-03, 2003-04, 2004-05, 2006-07, 2008-09 and F.Y 2009-10.

In respect of the demands/claims described in paragraphs (i) and (ii) above, the Company has also assessed that the possibility of these cases being decided against the Company and the demand crystalizing on the Company is not likely and hence no provision is required.

3. The Company had discontinued its operations during the year ended 31 March 2013 and has incurred net loss of Rs. 347.41 Lakhs during the year ended 31 March 2015 and as of that date the Company's accumulated losses amount to Rs. 7528.90 Lakhs which has resulted in erosion of hundred percent of net worth of the Company. The management is evaluating various options, including starting a new line of business. There is a material uncertainty related to the aforementioned conditions that may cast significant doubt on the Company continuing as a going concern and accordingly the Company may be unable to realize its assets and discharge its liabilities in the normal course of business. Network18 Media & Investments Limited, holding company, has given a support letter to extend for the foreseeable future (i.e. twelve months from 31 March 2015), any financial and business support, which may be required by the Company. Considering these factors, the management has assessed that the Company continues to be a going concern and hence, these financial statements have been brpared on a going concern basis.

4. As the Company operates in a single business and geographical segment, the reporting requirements for primary and secondary segment disclosures brscribed by Accounting Standard 17 "Segment Reporting", have not been provided in these financial statements.

5. Previous year's figures have been regrouped wherever necessary to conform with figures of the current year.

As per our report of even date.

For Walker Chandiok & Co LLP

For and on behalf of the Board of directors of

(formerly Walker Chandiok & Co.)

Infomedia Press Limited

Chartered Accountants

per B.P. Singh Partner

Manoj Mohanka Director

Rohit Bansal Director

Sandeep Mantri Chief Financial Officer

Tasneem Udaipurwala Company Secretary

Date : 15 April 2015

Place: Noida