1. The above Cash Flow Statement has been compiled from and is based on the Balance Sheet as at 31st March, 2016 and the related Statement of Profit and Loss for the year ended on that date.

2. The above Cash Flow Statement has been prepared under “Indirect Method” as set out in the Accounting Standard (AS) on “Cash Flow Statement”, AS -3, issued by The Institute of Chartered Accountants of India and reallocations required for this purpose are as made by the Company.

3. Cash and Cash equivalents represent Cash and Bank balances

4. Additions to Fixed Assets are stated inclusive of movements of Capital Work-in-Progress between the beginning and the end of the year and are treated as part of Investing Activities.

5. Figures in parenthesis represent outflows.

6. Previous year’s figures have been regrouped, wherever necessary, to conform current year’s presentation.

This is the Cash Flow referred to in our report of even date.

7. Contingent liabilities

8. A claim of 68,00,000/- towards enhanced municipal taxes over 10% of the previous rate was raised by the landlords of the premises from where the Company, as a sub-tenant, was operating one of its retail stores, in terms of the Company’s sub tenancy agreement with them. The said claim has been disputed by the Company on the ground that the said enhancement pertained to assessment of Annual Valuation based on the status (residential or commercial) of the property in question, which the landlords had concealed before the municipal authorities as well as before the Company and the Company has initiated legal proceedings to that effect which are awaiting ex-parte disposal.

9. Advances recoverable in cash or in kind or for value to be received include 7,42,37,148 (previous year-7,42,37,148) on account of Tai Projects Private Ltd, in which one of the directors of the Company is also a director, incorporated with an object of setting up of a Family Entertainment Complex (FEC) at Nonadanga in Eastern Metropolitan, Kolkata in pursuance of a decision to make investment in the said Company, which was approved by the share holders of the Company in its Annual General Meeting held on 17 September 2002.

10. The amount due to Micro and Small Enterprises as defined in ‘The Micro, Small and Medium Enterprises Development Act,2006 has been determined to the extent such parties have been identified on the basis of information available with the Company. The disclosures relating to Micro and Small enterprises as at 31st March, 2016 are as under:

11. As per terms of purchase, no interest is payable by the company to the party covered under MSMED Act, 2006.

12. Employee benefit

The employee benefits have been determined in accordance with the Accounting Standard-15 issued by The Institute of Chartered Accountants of India.

13. Defined Benefit Plans

Gratuity & Leave Encashment - The gratuity liability is determined on the basis of actuarial valuation using the Projected Unit Credit Method. This method recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation. The leave encashment is recognized in the financial statement in the same manner as gratuity.

14. The Company has not obtained year-end balance confirmation certificates from sundry debtors, sundry creditors and for loans & advances and deposits. However, the Company has a system of obtaining balance confirmations more than once during the year and adjustment for difference in balances, arising out of such confirmation/reconciliation statement, is made in the accounts on receipt of final agreed balances / reconciliation statement. The management is of the opinion that the impact of adjustment, if any, on year-end balances is not likely to be significant.

Furthermore, in the opinion of the management, all Trade Receivables, Advances and Deposits (both Current & Non-current) would be realized at the values at which these are stated in the accounts in the ordinary course of business.

15. Debtors ageing schedule detailing non-moving debtors above three years could not be produced to the Auditors for their verification as certain debtors ledgers are subject to reconciliation and consequential adjustments.

16. Due to absence of virtual certainty about future taxable income, no deferred tax asset with respect to unabsorbed depreciation and carried forward loss has been recognized in the accounts.

17. Previous year’s figures have been regrouped/rearranged, wherever necessary to conform to current year’s presentation.

18. Figures in parenthesis represent previous year’s figures.