8th Annual General Meeting CONTENTS Page No.

Date : 21st September, 2022 Notice to Shareholders 2

(Wednesday)
Directors’ Report 15
Time : 09:30 A.M. (IST)
Through Video Conferencing (“VC”)/ Independent Auditor’s Report 25
Other Audio Visual Means (“OAVM”)

Balance Sheet 36

Statement of Profit & Loss 37

Cash Flow Statement 38

Notes on Accounts 39

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 CHENNAI SUPER KINGS CRICKET LIMITED

BOARD OF DIRECTORS : Sri R. SRINIVASAN, Chairman

Sri K.S. VISWANATHAN, Wholetime Director & CEO

Sri RAKESH SINGH

Sri PL. SUBRAMANIAN

Sri B. KALYANASUNDARAM

Sri K. RAMGOPAL

Smt. E. JAYASHREE

AUDITORS : Messrs Brahmayya & Co.

Chartered Accountants
No. 48, Masilamani Road
Balaji Nagar, Royapettah
Chennai - 600 014.

REGISTERED OFFICE : ''Dhun Building''

827, Anna Salai,
Chennai - 600 002.

WEBSITE : www.chennaisuperkings.com

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 CHENNAI SUPER KINGS CRICKET LIMITED
CIN: U74900TN2014PLC098517
Registered Office : “Dhun Building”, 827, Anna Salai, Chennai - 600 002.
Website: www.chennaisuperkings.com E-Mail ID: investor@chennaisuperkings.com
Phone: 044 - 2852 1451

NOTICE TO SHAREHOLDERS

NOTICE is hereby given that the Eighth Annual General Meeting of Chennai Super Kings Cricket Limited will
be held at 09:30 A.M. [Indian Standard Time (IST)] on Wednesday, the 21st September, 2022, through Video
Conferencing (“VC”) / Other Audio Visual Means (“OAVM”) to transact the following businesses:

ORDINARY BUSINESS:
1. To receive, consider and adopt the Audited Financial Statements of the Company for the financial year ended
31st March 2022 and the Reports of Directors and Auditors thereon.

2. To consider and if thought fit, to pass the following resolution as an ORDINARY RESOLUTION:
“RESOLVED THAT Sri R. Srinivasan (DIN: 00207398) who retires by rotation and is eligible for reappointment
be and is hereby reappointed as a Director of the Company, subject to retirement by rotation.”

SPECIAL BUSINESS:
3. To consider and if thought fit, to pass the following resolutions as SPECIAL RESOLUTIONS:
“RESOLVED THAT pursuant to the provisions of Sections 196, 197, 198 and 203 read with Schedule V and
other applicable provisions, if any, of the Companies Act, 2013 (including any statutory modification(s) or
re-enactments thereof for the time being in force) (‘the Act’) and the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014, framed thereunder (including any amendment thereof
for the time being in force) and other applicable laws and regulations, if any, Articles of Association of the
Company and subject to requisite approvals, as may be required and pursuant to the recommendation of
the Nomination and Remuneration Committee and approval of the Board of Directors of the Company,
the Company hereby accords its approval and consent for the reappointment of Sri K.S.Viswanathan
(DIN: 06965671) as Wholetime Director of the Company designated as Chief Executive Officer (CEO), for
a period of two years with effect from 19th January 2023 and for the payment of remuneration to him on the
following terms for his services as Wholetime Director:
(a) Salary: Consolidated ` 6,75,000/- per month
(b) Perquisites and Allowances:
House Rent Allowance: ` 44,000/- per month
Other Allowances: ` 1,44,500/- per month
Reimbursement of Medical Expenses incurred for Self, Spouse and Dependents subject to a maximum of
` 1,80,000/- per annum.”
“RESOLVED FURTHER THAT in the event of loss or inadequacy of profits in any financial year during his
term of office, the Company will pay remuneration by way of salary, perquisites, allowances and benefits as
specified above, as minimum remuneration to Sri K.S.Viswanathan, Wholetime Director, which together shall
not exceed the ceiling laid down under Section 197 of the Companies Act, 2013 read with Schedule V to the
Act or such other limit as may be prescribed by the Government, from time to time, subject to obtaining any
other requisite approvals.”

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 “RESOLVED FURTHER THAT the scope and quantum of remuneration specified herein above, may be
enhanced, enlarged or varied by the Board of Directors, in the light of and in conformity to the relevant
provisions of the Act and/or the Rules and Regulations, including any amendments thereto and/or such
guidelines as may be stipulated by the Government of India, from time to time, so however, the overall
enhancement of the amount specified under each head as specified above shall not exceed 10% per annum
during the tenure of his office as Wholetime Director of the Company.”
“RESOLVED FURTHER THAT the Board of Directors of the Company be and is hereby authorized to do all
such acts, deeds and things, as may be required to give effect to the aforesaid resolutions.”

NOTES:
1. Explanatory Statement is annexed to the Notice of the Eighth Annual General Meeting of the Company as
required by Section 102 of the Companies Act, 2013 in respect of Item No.3.
2. Details pursuant to Secretarial Standard on General Meetings (SS 2) issued by The Institute of Company
Secretaries of India in respect of Directors seeking reappointment at the Annual General Meeting are annexed
for Items No. 2 & 3 of the Notice convening the Eighth Annual General Meeting of the Company.
3. Pursuant to General Circular Nos. 14/2020, 17/2020, 20/2020, 02/2021 and 02/2022 dated 8th April 2020,
13th April 2020, 5th May 2020, 13th January 2021 and 5th May 2022 respectively issued by Ministry of
Corporate Affairs, Government of India (“MCA”), Companies are permitted to conduct the Annual General
Meeting (AGM) through Video Conferencing (“VC”) / Other Audio Visual Means (“OAVM”). Accordingly,
the Eighth Annual General Meeting of the Members of the Company shall be conducted in virtual mode
i.e., through Video Conferencing (“VC”) / Other Audio Visual Means (“OAVM”) (‘Virtual AGM’), as per the
guidelines issued by the MCA. The deemed venue of this meeting shall be the Registered Office of the
Company at ‘Dhun Building’, 827, Anna Salai, Chennai – 600 002.
Central Depository Services (India) Limited (CDSL) will be providing facility for voting through remote
e-voting, for participation in the AGM through VC / OAVM and e-voting during the AGM. The procedure
for remote e-Voting, participating in the meeting through VC / OAVM and voting during the AGM through
e-Voting system is explained in Note No. 17 below and is also available on the website of the Company at
www.chennaisuperkings.com.
4. Members are hereby informed that the Eighth Annual General Meeting of the Company shall be conducted
in virtual mode i.e., through Video Conferencing (“VC”) / Other Audio Visual Means (“OAVM”) and there
will be no physical meeting of the shareholders taking place at a common venue and physical presence of
the members has been dispensed with to participate and vote in the Eighth Annual General Meeting of the
Company.
The attendance of Members attending the AGM through VC / OAVM shall be counted for the purpose of
reckoning the quorum under Section 103 of the Companies Act, 2013.
5. In accordance with the provisions of Section 101 of the Companies Act, 2013 read with Rule 18 of the
Companies (Management and Administration) Rules, 2014 and Secretarial Standard on General Meetings
(SS2) and the General Circular Nos. 20/2020, 02/2021 and 02/2022 dated 5th May, 2020, 13th January, 2021
and 5th May 2022 respectively issued by MCA, the Annual Report containing the Notice of Eighth Annual
General Meeting, financial statements, Board’s report, Auditor’s report and other documents required to be
attached therewith are being sent only by e-mail to those Members who have registered their e-mail address
with the Company / Registrar and Share Transfer Agent viz., Integrated Registry Management Services
Private Limited (RTA) (in respect of shares held in physical form) or with their DP (in respect of shares held
in electronic form) and made available to the Company by the Depositories.

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 In line with the circulars issued by MCA, the Annual Report containing the said documents including Notice
of AGM is also made available on the Company’s website ‘www.chennaisuperkings.com’ and on the website
of CDSL (agency for providing the Remote e-Voting facility) i.e. www.evotingindia.com from where it can be
downloaded. Shareholders may please note that no physical / hard copy of the aforesaid documents will be
sent by the Company.
Members, who have not registered their e-mail addresses, are requested to register their e-mail addresses
with (i) the Depository Participant(s), if the shares are held in electronic form and (ii) with the Company /
Registrar & Share Transfer Agent of the Company, if the shares are held in physical form.
6. Pursuant to the Circular No. 14/2020 dated April 08, 2020, issued by the Ministry of Corporate Affairs, the
facility to appoint proxy to attend and cast vote for the members is not available for this AGM and hence the
proxy form, attendance slip and Route map are not annexed to this Notice. However, the Body Corporates
are entitled to appoint authorised representatives to attend the AGM through VC/OAVM and participate
thereat and cast their votes through e-voting.
Corporate Members intending to authorize their representatives to attend the AGM through VC/OAVM
and vote through e-Voting are requested to send to the Company a certified copy of the Board Resolution
authorising their representative to attend the AGM through VC/OAVM and cast their votes through e-Voting.
7. Members can join the Annual General Meeting in the VC/OAVM mode 15 minutes before and after the
scheduled time of the commencement of the Meeting by following the procedure mentioned in Note No. 17 of
the Notice. The facility of participation at the AGM through VC/OAVM will be made available for 1000 members
on first come first served basis. This will not include large shareholders (Shareholders holding 2% or more
shareholding), Promoters, Institutional Investors, Directors, Key Managerial Personnel, the Chairpersons
of Audit Committee, Nomination and Remuneration Committee and Stakeholders Relationship Committee,
Auditors etc., who are allowed to attend the Annual General Meeting without restriction on account of first
come first served basis.
A Member may participate in the AGM in the VC/OAVM mode even after exercising his right to vote through
remote e-Voting but shall not be allowed to vote again at the AGM.
In case of joint holders attending the Annual General Meeting in virtual mode, only such joint holder who is
higher in the order of names as per the Register of Members of the Company, will be entitled to attend and
vote.
8. Members holding shares in physical form or those who have not registered their e-mail IDs will be allowed to
take part in the remote e-voting or through the e-voting system during the Annual General Meeting in virtual
mode as per the procedure detailed in Note No. 17 below.
9. The Register of Members and Share Transfer Books of the Company will remain closed from 15.09.2022 to
21.09.2022 (both days inclusive).
10. Members are requested to contact the Registrar and Share Transfer Agent (RTA) for all matters connected
with the Company’s shares at Integrated Registry Management Services Private Limited, 2nd Floor, ‘Kences
Towers’, No.1, Ramakrishna Street, North Usman Road, T.Nagar, Chennai 600017, Tel.: 044-28140801 to
28140803 & Fax: 044-28142479; Email:corpserv@integratedindia.in.
Members holding shares in physical form are requested to notify all changes with respect to their bank
details, mandate, nomination, power of attorney, change of address, etc., to the RTA. Members holding
shares in physical form in more than one folio are requested to write to the RTA immediately enclosing their
Share Certificates for consolidation of their holdings into one folio.

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 Members holding shares in the dematerialised mode are requested to intimate all changes with respect
to their bank details, mandate, nomination, power of attorney, change of address, etc. to their Depository
Participant (DP). These changes will be automatically reflected in the Company’s records.
11. The Ministry of Corporate Affairs, vide its notification dated May 7, 2018, has dispensed with the requirement for
ratification of appointment of Auditors by the members at every Annual General Meeting (AGM). Accordingly, no
resolution is proposed at the AGM for ratification of appointment of M/s.Brahmayya & Co., Chartered Accountants,
Statutory Auditors, who were appointed in the AGM held on 26th September, 2019 for a term of five years to hold
office from the conclusion of the Fifth AGM until the conclusion of the Tenth AGM of the Company.
12. The Register of Directors and Key Managerial Personnel and their shareholding, as maintained under
Section 170 of the Companies Act, 2013 will be available electronically for inspection by the Members during
the AGM. All documents referred to in the Notice will also be available for inspection of Members on the
website of the Company at www.chennaisuperkings.com and at the Registered Office of the Company
between 11.00 A.M. and 1.00 P.M. on any working day, prior to the date of the meeting.
13. Under the provisions of Section 72 of the Companies Act, 2013, shareholder(s) is / are entitled to nominate, in
the prescribed manner, a person to whom his / her / their shares in the Company, shall vest after his / her / their
lifetime. Members who are holding shares in physical form and are interested in availing this nomination facility
may submit nomination in the prescribed Form SH-13 with the Company / RTA. In respect of shares held in
dematerialized form, Members may submit their nomination form with their respective Depository Participants.
14. Members are requested to note that in case of deletion of name of deceased shareholder, transmission and
transposition of names in respect of shares held in physical form, submission of self-attested photocopy of
PAN Card of the claimant(s), surviving holder(s), legal heir(s) and joint holder(s) respectively, along with
necessary documents at the time of lodgement of request for transmission / transposition, is mandatory.
15. Members holding shares in physical form are requested to submit their PAN and Bank Account Details to
RTA / Company by forwarding duly signed letter along with self-attested copy of PAN Card and cancelled
cheque leaf. The cancelled cheque leaf should bear the name of the Member. In the alternative, Members
are requested to submit a copy of bank passbook / statement issued by the Bank.
16. Securities of unlisted companies can only be transferred in dematerialised form with effect from 2nd October,
2018, except in case of request received for transmission or transposition of securities. In view of the above,
members are advised to dematerialise equity shares held by them in physical form.
17. Voting through electronic means:
Pursuant to the provisions of Section 108 of the Companies Act, 2013 read with Rule 20 of the Companies
(Management and Administration) Rules, 2014 (as amended), Secretarial Standards issued by The Institute
of Company Secretaries of India and MCA Circulars dated April 08, 2020, April 13, 2020, May 05, 2020,
January 13, 2021 and May 05, 2022 the Company is providing facility of remote e-voting to its members in
respect of the business to be transacted at the Annual General Meeting (AGM). For this purpose, the Company
has entered into an agreement with Central Depository Services (India) Limited (CDSL) for facilitating voting
through electronic means, as the authorized e-Voting’s agency. The facility of casting votes by a member
using remote e-voting as well as the e-voting system on the date of the Annual General Meeting will be
provided by CDSL.
In line with the Ministry of Corporate Affairs Circulars, the Notice of the AGM has been uploaded on the
website of the Company at www.chennaisuperkings.com. The Notice is also disseminated on the website
of CDSL (agency for providing the Remote e-Voting facility and e-voting system during the AGM) i.e. www.
evotingindia.com.

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I THE INTRUCTIONS TO SHAREHOLDERS FOR E-VOTING AND JOINING VIRTUAL MEETINGS
ARE AS UNDER:
(i) The remote e-voting period commences on 17.09.2022 (9.00 A.M. IST) and ends on 20.09.2022 (5.00
P.M. IST). During this period, shareholders’ of the Company holding shares either in physical form
or in dematerialized form, as on the cut-off date viz., 14.09.2022, may cast their vote electronically.
The remote e-voting module shall be disabled by CDSL for voting thereafter.
(ii) Shareholders who have already voted prior to the meeting date would not be entitled to vote at the
AGM.
(iii) Currently, there are multiple e-voting service providers (ESPs) providing e-voting facility to the
entities in India. This necessitates registration on various ESPs and maintenance of multiple user
IDs and passwords by the shareholders.
In order to increase the efficiency of the voting process, pursuant to a public consultation, it has
been decided to enable e-voting to all the demat account holders, by way of a single login credential,
through their demat accounts / websites of Depositories / Depository Participants. Demat account
holders would be able to cast their vote without having to register again with the ESPs, thereby, not
only facilitating seamless authentication but also enhancing ease and convenience of participating
in e-voting process.
Step 1: Access through Depositories CDSL/NSDL e-Voting system in case of individual shareholders
holding shares in demat mode.
(iv) Individual shareholders holding securities in demat mode are allowed to vote through their demat
account maintained with Depositories and Depository Participants. Shareholders are advised to
update their mobile number and email Id in their demat accounts in order to access e-Voting facility.
Login method for e-Voting and joining virtual meetings for Individual shareholders holding securities
in Demat mode in CDSL / NSDL is given below:
Type of
Login Method
shareholders
Individual 1) Users who have opted for CDSL Easi / Easiest facility, can login through
Shareholders their existing user id and password. Option will be made available to reach
holding e-Voting page without any further authentication. The URL for users to
securities in login to Easi / Easiest are https://web.cdslindia.com/myeasi/home/login or
Demat mode visit www.cdslindia.com and click on Login icon and select New System
with CDSL Myeasi.
Depository
2) After successful login the Easi / Easiest user will be able to see the
e-Voting option for eligible companies where the evoting is in progress
as per the information provided by company. On clicking the evoting
option, the user will be able to see e-Voting page of the e-Voting service
provider for casting your vote during the remote e-Voting period or joining
virtual meeting & voting during the meeting. Additionally, there is also links
provided to access the system of all e-Voting Service Providers i.e. CDSL/
NSDL/KARVY/LINKINTIME, so that the user can visit the e-Voting service
providers’ website directly.
3) If the user is not registered for Easi/Easiest, option to register is available
at https://web.cdslindia.com/myeasi/Registration/EasiRegistration

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 Type of
Login Method
shareholders
4) Alternatively, the user can directly access e-Voting page by providing
Demat Account Number and PAN No. from a e-Voting link available
on www.cdslindia.com home page or click on https://evoting.cdslindia.
com/Evoting/EvotingLogin. The system will authenticate the user
by sending OTP on registered Mobile & Email as recorded in the
Demat Account. After successful authentication, user will be able to
see the e-Voting option where the evoting is in progress and also
able to directly access the system of all e-Voting Service Providers.
Individual 1) If you are already registered for NSDL IDeAS facility, please visit the
Shareholders e-Services website of NSDL. Open web browser by typing the following
holding URL: https://eservices.nsdl.com either on a Personal Computer or on
securities in a mobile. Once the home page of e-Services is launched, click on the
demat mode “Beneficial Owner” icon under “Login” which is available under ‘IDeAS’
with NSDL section. A new screen will open. You will have to enter your User ID
Depository and Password. After successful authentication, you will be able to see
e-Voting services. Click on “Access to e-Voting” under e-Voting services
and you will be able to see e-Voting page. Click on company name or
e-Voting service provider name and you will be re-directed to e-Voting
service provider website for casting your vote during the remote e-Voting
period or joining virtual meeting & voting during the meeting.
2) If the user is not registered for IDeAS e-Services, option to register is available
at https://eservices.nsdl.com. Select “Register Online for IDeAS” Portal or
click at https://eservices.nsdl.com/SecureWeb/IdeasDirectReg.jsp
3) Visit the e-Voting website of NSDL. Open web browser by typing the
following URL: https://www.evoting.nsdl.com/ either on a Personal
Computer or on a mobile. Once the home page of e-Voting system is
launched, click on the icon “Login” which is available under ‘Shareholder/
Member’ section. A new screen will open. You will have to enter your
User ID (i.e. your sixteen digit demat account number held with NSDL),
Password/OTP and a Verification Code as shown on the screen. After
successful authentication, you will be redirected to NSDL Depository site
wherein you can see e-Voting page. Click on company name or e-Voting
service provider name and you will be redirected to e-Voting service
provider website for casting your vote during the remote e-Voting period
or joining virtual meeting & voting during the meeting.
Individual You can also login using the login credentials of your demat account
Shareholders through your Depository Participant registered with NSDL/CDSL for
(holding e-Voting facility. After Successful login, you will be able to see e-Voting
securities in option. Once you click on e-Voting option, you will be redirected to NSDL/
demat mode) CDSL Depository site after successful authentication, wherein you can
login through see e-Voting feature. Click on company name or e-Voting service provider
their Depository name and you will be redirected to e-Voting service provider website for
Participants casting your vote during the remote e-Voting period or joining virtual
(DP) meeting & voting during the meeting.

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 Important note: Members who are unable to retrieve User ID / Password are advised to use Forget
User ID and Forget Password option available at abovementioned website.
Helpdesk for Individual Shareholders holding securities in demat mode for any technical
issues related to login through Depository i.e. CDSL and NSDL
Login type Helpdesk details
Individual Shareholders Members facing any technical issue in login can contact CDSL
holding securities in Demat helpdesk by sending a request at helpdesk.evoting@cdslindia.com
mode with CDSL or contact at toll free no. 1800 22 55 33.
Individual Shareholders Members facing any technical issue in login can contact NSDL
holding securities in Demat helpdesk by sending a request at evoting@nsdl.co.in or call at toll
mode with NSDL free no.: 1800 1020 990 and 1800 22 44 30.

Step 2: Access through CDSL e-Voting system in case of shareholders holding shares in physical
mode and non-individual shareholders in demat mode.
(v) Login method for e-Voting and joining virtual meetings for Physical shareholders and shareholders
other than individual holding in Demat form.
1) The shareholders should log on to the e-voting website www.evotingindia.com.
2) Click on “Shareholders” module.
3) Now enter your User ID
a. For CDSL: 16 digits beneficiary ID,
b. For NSDL: 8 Character DP ID followed by 8 Digits Client ID,
c. Shareholders holding shares in Physical Form should enter Folio Number registered with
the Company.
4) Next enter the Image Verification as displayed and Click on Login.
5) If you are holding shares in demat form and had logged on to www.evotingindia.com and
voted on an earlier e-voting of any company, then your existing password is to be used.
6) If you are a first-time user follow the steps given below:

For Physical shareholders and other than individual shareholders

holding shares in Demat.
PAN Enter your 10 digit alpha-numeric *PAN issued by Income Tax
Department (Applicable for both demat shareholders as well as physical
shareholders)
* Shareholders who have not updated their PAN with the Company/
Depository Participant are requested to use the sequence number sent
by Company/RTA or contact Company/RTA.
Dividend Bank Enter the Dividend Bank Details or Date of Birth (in dd/mm/yyyy format)
Details as recorded in your demat account or in the company records in order
OR to login.
Date of Birth • If both the details are not recorded with the depository or company,
(DOB) please enter the member id / folio number in the Dividend Bank details
field.

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(vi) After entering these details appropriately, click on “SUBMIT” tab.
(vii) Shareholders holding shares in physical form will then directly reach the Company selection screen.
However, shareholders holding shares in demat form will now reach ‘Password Creation’ menu
wherein they are required to mandatorily enter their login password in the new password field.
Kindly note that this password is to be also used by the demat holders for voting for resolutions
of any other company on which they are eligible to vote, provided that company opts for e-voting
through CDSL platform. It is strongly recommended not to share your password with any other
person and take utmost care to keep your password confidential.
(viii) For shareholders holding shares in physical form, the details can be used only for e-voting on the
resolutions contained in this Notice.
(ix) Click on the EVSN for Chennai Super Kings Cricket Limited.
(x) On the voting page, you will see “RESOLUTION DESCRIPTION” and against the same the option
“YES/NO” for voting. Select the option YES or NO as desired. The option YES implies that you
assent to the Resolution and option NO implies that you dissent to the Resolution.
(xi) Click on the “RESOLUTIONS FILE LINK” if you wish to view the entire Resolution details.
(xii) After selecting the resolution, you have decided to vote on, click on “SUBMIT”. A confirmation box
will be displayed. If you wish to confirm your vote, click on “OK”, else to change your vote, click on
“CANCEL” and accordingly modify your vote.
(xiii) Once you “CONFIRM” your vote on the resolution, you will not be allowed to modify your vote.
(xiv) You can also take a print of the votes cast by clicking on “Click here to print” option on the Voting
page.
(xv) If a demat account holder has forgotten the login password then Enter the User ID and the image
verification code and click on Forgot Password & enter the details as prompted by the system.
(xvi) There is also an optional provision to upload BR/POA if any uploaded, which will be made available
to scrutinizer for verification.
(xvii) Additional Facility for Non – Individual Shareholders and Custodians – For Remote Voting
only.
• Non-Individual shareholders (i.e. other than Individuals, HUF, NRI etc.) and Custodians are
required to log on to www.evotingindia.com and register themselves in the “Corporates”
module.
• A scanned copy of the Registration Form bearing the stamp and sign of the entity should be
emailed to helpdesk.evoting@cdslindia.com.
• After receiving the login details a Compliance User should be created using the admin login
and password. The Compliance User would be able to link the account(s) for which they wish
to vote on.
• The list of accounts linked in the login will be mapped automatically & can be delinked in case
of any wrong mapping.
• It is Mandatory that, a scanned copy of the Board Resolution and Power of Attorney (POA)
which they have issued in favour of the Custodian, if any, should be uploaded in PDF format in
the system for the scrutinizer to verify the same.

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 • Alternatively Non Individual shareholders are required mandatorily to send the relevant
Board Resolution/ Authority letter etc. together with attested specimen signature of the duly
authorized signatory who are authorized to vote, to the Scrutinizer and to the Company at the
email address viz; sudha.pr2@gmail.com or sudha_pr@yahoo.com and to the Company at
investor@chennaisuperkings.com, if they have voted from individual tab & not uploaded same
in the CDSL e-voting system for the scrutinizer to verify the same.
II INSTRUCTIONS FOR SHAREHOLDERS ATTENDING THE AGM THROUGH VC/OAVM & E-VOTING
DURING MEETING ARE AS UNDER:
1. The procedure for attending meeting & e-Voting on the day of the AGM is same as the instructions
mentioned above for e-voting.
2. The link for VC/OAVM to attend meeting will be available where the EVSN of Company will be
displayed after successful login as per the instructions mentioned above for e-voting.
3. Shareholders who have voted through Remote e-Voting will be eligible to attend the meeting.
However, they will not be eligible to vote at the AGM.
4. Shareholders are encouraged to join the Meeting through Laptops / IPads for better experience.
5. Further shareholders will be required to allow Camera and use Internet with a good speed to avoid
any disturbance during the meeting.
6. Please note that Participants Connecting from Mobile Devices or Tablets or through Laptop
connecting via Mobile Hotspot may experience Audio/Video loss due to Fluctuation in their
respective network. It is therefore recommended to use Stable Wi-Fi or LAN Connection to mitigate
any kind of aforesaid glitches.
7. Shareholders who would like to express their views/ask questions/seek any information during the
meeting with regard to any item(s) of business to be transacted at the AGM may register themselves
as a speaker by sending their request from the registered email ID in advance i.e., on or before
14th September, 2022 mentioning their name, Demat Account Number (DP ID and Client ID) / Folio
Number, email ID, PAN and mobile number to the Company at investor@chennaisuperkings.com.
The shareholders who do not wish to speak during the AGM but have queries may send their
queries in advance i.e., on or before 14th September, 2022 mentioning their name, Demat
Account Number (DP ID and Client ID) / Folio Number, email ID, PAN and mobile number at
investor@chennaisuperkings.com. These queries will be replied to by the company suitably.
8. Those shareholders who have registered themselves as a speaker will only be allowed to express
their views/ask questions during the meeting. The Company reserves the right to restrict the
number of speakers depending on the availability of time at the AGM.
9. Only those shareholders, who are present in the AGM through VC/OAVM facility and have not cast
their vote on the Resolutions through remote e-Voting and are otherwise not barred from doing so,
shall be eligible to vote through e-Voting system available during the AGM.
10. If any Votes are cast by the shareholders through the e-voting available during the AGM and if the
same shareholders have not participated in the meeting through VC/OAVM facility, then the votes
cast by such shareholders may be considered invalid as the facility of e-voting during the meeting
is available only to the shareholders attending the meeting.

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 III PROCESS FOR THOSE SHAREHOLDERS WHOSE EMAIL/MOBILE NO. ARE NOT REGISTERED
WITH THE COMPANY/DEPOSITORIES:
1. For shareholders holding shares in physical form - please provide necessary details like Folio No.,
Name of shareholder, scanned copy of the share certificate (front and back), PAN (self attested
scanned copy of PAN card), AADHAR (self attested scanned copy of Aadhar Card) by email to
Company at investor@chennaisuperkings.com or to RTA at corpserv@integratedindia.in.
2. For shareholders holding shares in Demat form - Please update your email id & mobile no. with
your respective Depository Participant (DP).
3. For Individual Demat shareholders - Please update your email id & mobile no. with your respective
Depository Participant (DP) which is mandatory while e-Voting & joining virtual meetings through
Depository.
IV If you have any queries or issues regarding attending AGM & e-Voting from the CDSL e-Voting System,
you can write an email to helpdesk.evoting@cdslindia.com or contact at toll free no. 1800 22 55 33.
V All grievances connected with the facility for voting by electronic means may be addressed to Mr. Rakesh
Dalvi, Sr. Manager, Central Depository Services (India) Limited (CDSL), A Wing, 25th Floor, Marathon
Futurex, Mafatlal Mill Compounds, N M Joshi Marg, Lower Parel (East), Mumbai - 400013 or send an
email to helpdesk.evoting@cdslindia.com or call toll free no. 1800 22 55 33.
VI You can also update your mobile number and e-mail ID in the user profile details of the folio which may
be used for sending future communication(s).
VII The voting rights of shareholders shall be in proportion to their shares of the paid up equity share capital
of the Company as on the cut-off date i.e. 14.09.2022.
VIII Smt.P.R.Sudha, Company Secretary in Practice (Membership No.F6046, C.P.No.4468), has been
appointed as the Scrutinizer to scrutinize the e-voting process in a fair and transparent manner.
IX Any person, who acquires shares of the Company and becomes a member of the Company after
forwarding the notice and holding as of the cut-off date i.e. 14.09.2022, may obtain the login ID and
password by sending an email to investor@chennaisuperkings.com or corpserv@integratedindia.in or
helpdesk.evoting@cdslindia.com by mentioning their DP ID and Client ID No.
X A person, whose name is recorded in the Register of Members or in the Register of Beneficial Owners
maintained by the depositories as on the cut-off date only shall be entitled to avail the facility of remote
e-Voting or e-Voting during the AGM.
XI The Scrutinizer shall immediately after the conclusion of e-voting at the AGM through VC / OAVM
mode, first download and count the votes cast at the AGM and thereafter unblock the votes cast through
remote e-Voting and shall submit, not later than fourtyeight hours from the conclusion of the AGM, a
consolidated scrutinizer’s report of the total votes cast in favour or against, if any, to the Chairman or a
person authorized by him in writing, who shall countersign the same and declare the result of the voting
forthwith.
XII The Results declared along with the report of the Scrutinizer shall be placed on the Company’s website
www.chennaisuperkings.com and on the website of CDSL at www.evotingindia.com after the declaration
of result by the Chairman or a person authorized by him in writing.

(By Order of the Board)

for CHENNAI SUPER KINGS CRICKET LIMITED
Place : Chennai K.S.VISWANATHAN
Date : 10.08.2022 WHOLETIME DIRECTOR
DIN: 06965671

11
PURSUANT TO SECRETARIAL STANDARD ON GENERAL MEETINGS (SS2) ISSUED BY THE INSTITUTE
OF COMPANY SECRETARIES OF INDIA, FOLLOWING INFORMATION ARE FURNISHED ABOUT THE
DIRECTORS PROPOSED TO BE REAPPOINTED, VIDE ITEMS NO. 2 AND 3 OF THE NOTICE CONVENING
THE 8TH ANNUAL GENERAL MEETING OF THE COMPANY
(i) Name of the Director : Sri R.Srinivasan
Director Identification Number(DIN) : 00207398
Date of Birth : 04.04.1956
Date of appointment on the Board as Director : 26.03.2018
Category of Directorship Non-executive Director
Date of last reappointment as Director 05.07.2018
Expertise in specific functional areas Finance & Accounts
Qualification : ACA
Brief Profile / Experience : Sri R.Srinivasan is a Chartered Accountant having
more than 3 decades of extensive and varied
experience in Finance, Accounts etc. He has been
associated with the Company as a Director since
2018.
Number of equity shares held in the Company by : 20056
the Director or for other persons on a beneficial
basis
List of outside Directorships held in Public : Biosynth Life Sciences India Limited
Companies Coromandel Travels Limited
ICL Financial Services Limited
ICL Securities Limited
Industrial Chemicals and Monomers Limited
India Cements Infrastructures Limited
Chairman / Member of the Committees of Board Audit Committee - Chairman
of Directors of the Company Stakeholders Relationship Committee - Member
Chairman / Member of the Committees of board : Audit Committee – Chairman
of Directors of other Companies in which he is ICL Financial Services Limited
a Director ICL Securities Limited
Coromandel Travels Limited
Relationships between directors inter-se / : Nil
Key Managerial Personnel
Number of Board Meetings attended during the : 7
year

12
(ii) Name of the Director : Sri K.S.Viswanathan
Director Identification Number(DIN) : 06965671
Date of Birth : 27.02.1953
Date of appointment on the Board as Director : 19.01.2018
Date of last reappointment as Wholetime 19.01.2021
Director
Category of Directorship : Wholetime Director
Qualification : B.Com
Brief Profile / Experience : Sri.K.S.Viswanathan, Wholetime Director, is a
graduate in Commerce and has been associated
with the Company as Director from 2014 to 2016
and as Wholetime Director from 2018 till date.
Sri K.S.Viswanathan has expertise in Cricket and
Sports related activities and he is overall responsible
for the day-to-day management of the Company.
He will function subject to the superintendence,
direction and control of the Board of Directors.
Number of equity shares held in the Company by : 9108
the Director or for other persons on a beneficial
basis
List of outside Directorships held in Public : Nil
Companies
Chairman / Member of the Committees of Board Stakeholders Relationship Committee - Member
of Directors of the Company
Chairman / Member of the Committees of : Nil
Board of Directors of other Companies in
which he is a Director
Relationships between directors inter-se / : Nil
Key Managerial Personnel

Number of Board Meetings attended during the 7

year

13
EXPLANATORY STATEMENT ANNEXED TO THE NOTICE OF THE EIGHTH ANNUAL GENERAL MEETING
OF THE COMPANY AS REQUIRED UNDER SECTION 102 OF THE COMPANIES ACT, 2013, IN RESPECT
OF ITEM NO. 3 OF THE SAID NOTICE
Item No.3
The shareholders at the Annual General Meeting of the Company held on 18.09.2021 approved the appointment of
Sri K.S.Viswanathan (DIN: 06965671) as Wholetime Director, designated as Chief Executive Officer, for a period
of two years with effect from 19th January, 2021 and remuneration payable to him for his services as Wholetime
Director of the Company. The present term of Sri K.S.Viswanathan as Wholetime Director will conclude on
18th January 2023.
The Nomination and Remuneration Committee (NRC) at its meeting held on 10.08.2022 has considered and after
evaluating his performance as Director and Wholetime Director of the Company and the contribution made by him
to the Company, unanimously recommended the reappointment of Sri K.S.Viswanathan as Wholetime Director,
designated as Chief Executive Officer, for a further period of two years on the existing terms as detailed in the
resolutions with effect from 19th January 2023.
The Board of Directors of the Company at its meeting held on 10.08.2022 considered the recommendations of
NRC and has unanimously approved the reappointment of Sri. K.S.Viswanathan as Wholetime Director for a
further period of two years and payment of remuneration to him on the existing terms as detailed in the resolutions
with effect from 19th January 2023, subject to the approval of the shareholders by passing the Special Resolutions
at the ensuing Annual General Meeting.
In terms of Provisions of Section 196(3) read with Schedule V to the Companies Act, 2013, Companies are
required to pass a special resolution for appointing or continuing the employment of any person as Managing
Director, Wholetime Director or Manager, who has attained the age of 70 years. Since Sri K.S.Viswanathan would
attain the age of 70 years during the proposed term of office, approval of the members by way of special resolution
is required for his reappointment as Wholetime Director of the Company.
The approval of the Members is being sought under Sections 196, 197 and 203 read with Schedule V of the
Companies Act, 2013 (including any statutory amendment(s) or modification(s) thereto or enactment(s) or
re-enactment(s) thereof for the time being in force), for the reappointment of Sri K.S.Viswanathan as Wholetime
Director and the terms of his reappointment and payment of remuneration to him on the existing terms as detailed
in the resolutions set out in the accompanying Notice. The reappointment of Sri K.S.Viswanathan and payment of
remuneration to him are proposed after considering the following:
Sri K.S.Viswanathan, Wholetime Director, is a graduate in Commerce and has been associated with the Company
as Director from 2014 to 2016 and as Wholetime Director from 2018 till date. Sri K.S.Viswanathan has expertise in
Cricket and Sports related activities and he is overall responsible for the day to day management of the Company.
He will function subject to the superintendence, direction and control of the Board of Directors.
The disclosure containing the profile and other details of Sri K.S.Viswanathan as required under Secretarial
Standard on General Meetings (SS2) is annexed to the Notice convening the 8th AGM of the Company.
The Board of Directors recommends the Special Resolutions as set out in Item No.3 of the Notice convening the
8th Annual General Meeting of the Company for approval of the Members.
Interest of Directors and Key Managerial Personnel:
Sri K.S.Viswanathan, Wholetime Director, is interested in these resolutions as it concerns his reappointment.
No other Directors or other Key Managerial Personnel of the Company or their relatives is directly or indirectly
concerned or interested, financially or otherwise, in these resolutions.
(By Order of the Board)
for CHENNAI SUPER KINGS CRICKET LIMITED
Place : Chennai K.S.VISWANATHAN
Date : 10.08.2022 WHOLETIME DIRECTOR
DIN: 06965671

14
DIRECTORS’ REPORT
Your Directors have pleasure in presenting the Eighth Annual Report together with the Audited Accounts of the
Company for the year ended 31st March, 2022.

FINANCIAL RESULTS:
The Financial Results for the year ended 31st March are given below: ` in Lakhs

Year ended Year ended

31.03.2022 31.03.2021
Total Revenue 34914.26 25369.86
Profit / (Loss) before Interest, Depreciation &
4941.19 6779.92
Exceptional Items
Less : Finance Cost 567.65 526.34
Less: Depreciation / Amortization 240.35 333.73
Profit / (Loss) Before Tax 4133.19 5919.85
Less: Current Tax 1102.38 1763.81
Less: Deferred Tax (181.68) 129.82
Profit / (Loss) After Tax 3212.49 4026.22

DIVIDEND AND RESERVES:

In order to conserve resources, the Company has not declared any Dividend for the year ended 31st March 2022.
The Company has not transferred any amount to the reserves for the year ended 31st March 2022.

COMPANY’S PERFORMANCE:
The IPL Season XIV started as usual in April 2021. The tournament was held only in 4 centers and our team played
all its matches in Mumbai and Delhi. The tournament had to be stopped midway due to the rampant spread of Covid
19 in India. All the teams had played about 7 matches each when the tournament was suspended. Thereafter the
tournament was continued in United Arab Emirates (UAE) and we are glad to inform the shareholders that our
team won the IPL Trophy for the 4th time.
The expenses for the year under review have been higher consequent to the tournament being held in 2 stages
and with the second stage being held overseas. The revenue was also higher due to the team winning the title.
The Company is planning to create a High-Performance Centre on its land at Navallur for providing state of art
training facilities to cricketers and sports persons. The training facility will also have a sports complex and a cricket
ground for Chennai Super Kings to have their pre-match practice sessions. The Company has initiated steps
during the year under review to create the infrastructure towards this initiative.
The Company submitted a bid on 13th July 2022 to acquire a franchisee in the T20 domestic league conducted
by Cricket South Africa, pursuant to which, a license was granted for participating in the league in the city of
Johannesburg. The 1st edition of the tournament is likely to take place in January and February 2023.
The financial commitments relating to the above will be dealt with on execution of agreements.

15
INTERNAL FINANCIAL CONTROLS
The Company has adequate internal financial controls with reference to the Financial Statements commensurate
to the size and nature of operations of the Company.

RISK MANAGEMENT POLICY

Pursuant to Section 134(3)(n) of the Companies Act, 2013, the Company has developed and implemented a risk
management policy. The policy envisages identification of risk and procedures for assessment and mitigation
thereof.

RELATED PARTY TRANSACTIONS

The details of Related Party Transactions are given in Note No. 35 to Notes on Accounts for the year ended
31st March, 2022.

SUBSIDIARY COMPANY
SUPERKING VENTURES PRIVATE LIMITED
During the year under review, Superking Ventures Private Limited (SVPL) was incorporated as its wholly owned
subsidiary on 15.02.2022 and has not commenced operations till 31.03.2022.
Pursuant to Section 2(41) of the Companies Act, 2013, the financial year of SVPL would be from 15.02.2022
to 31.03.2023 and accordingly, the preparation of a consolidated financial statement of the Company and its
subsidiary and attachment of a separate statement containing the salient features of the financial statement of its
subsidiary in Form AOC 1, pursuant to Section 129(3) of the Companies Act, 2013 read with Rules made there
under will be considered for and from the financial year 2022-23.
The Company does not have any associate / joint venture Companies.

PARTICULARS OF LOANS, GUARANTEES AND INVESTMENTS

During the year under review, the Company has not granted any loans and provided guarantee / security to the
persons covered under Section 185 of the Companies Act, 2013, (“the Act”) and has complied with provisions of
Section 186 of the Act in respect of the loans given and investments made.

MATERIAL ORDERS PASSED BY THE REGULATORS / COURTS / TRIBUNALS

There have been no orders passed by any Regulatory Authority or Court or Tribunal, impacting the going concern
status and future operations of the Company.

MATERIAL CHANGES AND COMMITMENTS

There has been no material changes and commitments affecting the financial position of the Company, which has
occurred between the end of the financial year of the Company to which the financial statements relate and the
date of this report other than those disclosed in this Annual Report.

ANNUAL RETURN
The extract of the Annual Return of the Company for the financial year ended 31st March 2022 is made available
at the Company’s website at www.chennaisuperkings.com.

PUBLIC DEPOSITS
The Company has not accepted any deposits covered under Chapter V of the Companies Act, 2013 from the
public during the financial year 2021-22. There are no outstanding Public Deposits at the beginning or end of the
Financial Year.

16
CONSERVATION OF ENERGY, ETC.
Since the Company has no manufacturing activity, furnishing of the prescribed details as required under
Section 134(3)(m) of the Companies Act, 2013 is not applicable.

TOTAL FOREIGN EXCHANGE USED AND EARNED:

Current Year Previous Year

Used ` / Lakhs 7136.02 3712.21
Earned ` / Lakhs 23.61 58.26

DIRECTORS
In terms of Section 152(6) of the Companies Act, 2013, Sri R. Srinivasan retires by rotation at the ensuing Annual
General Meeting of the Company and he is eligible for re-appointment. Resolution for his re-appointment as
a director liable to retire by rotation is included in the Notice convening the 8th Annual General Meeting of the
Company.
The Board of Directors at its meeting held on 10.08.2022, based on the recommendations of the Nomination
and Remuneration Committee, approved the reappointment of Sri K.S Viswanathan as Wholetime Director of
the Company for a further period of 2 years from 19.01.2023, subject to the approval of the shareholders and
resolutions seeking the approval of the shareholders for his reappointment as Wholetime Director is included
under Special Business in the Notice convening the 8th Annual General Meeting of the Company.
Brief particulars of the Directors eligible for re-appointment are annexed to the Notice convening the 8th Annual
General Meeting of the Company.
Other than the above there have been no changes in the Directors or Key Managerial Personnel during the year.
No Director is related to each other.

INDEPENDENT DIRECTORS
A statement on declaration given by the Independent Directors under Section 149(7) of the Companies Act, 2013
that they meet the criteria of independence as provided under Section 149(6) of the Companies Act, 2013 has
been received by the Company.

DIRECTORS’ RESPONSIBILITY STATEMENT:

Your Directors make the following statement in terms of Section 134(5) of the Companies Act, 2013:
“We confirm that
1. in the preparation of the annual accounts for the year ended 31st March, 2022, the applicable Accounting
Standards have been followed along with proper explanation relating to material departures;
2. such Accounting Policies have been selected and applied consistently and made judgements and estimates
that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at
31st March, 2022 and of the profit of the Company for that year;
3. proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance
with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing
and detecting fraud and other irregularities;
4. the annual accounts for the year ended 31st March 2022 have been prepared on a going concern basis;
5. proper systems to ensure compliance with the provisions of all applicable laws have been devised and that
such systems are adequate and operating effectively.”

17
PERSONNEL
In terms of provisions of Section 197 of the Companies Act, 2013 and Rule 5(2) of the Companies (Appointment
and Remuneration of Managerial Personnel) Rules, 2014, a statement showing names of the employees drawing
remuneration and other particulars, as prescribed in the said Rules forms part of this report. The said information
is available for inspection at the Registered Office of the Company during working hours and any member who is
interested in obtaining these particulars may write to the Company.
The Board has, on the recommendation of the Nomination and Remuneration Committee, framed a Policy for
selection and appointment of Directors, Key Managerial Personnel and other employees and their remuneration
for implementation and the same is available on the website of the Company. During the year, no remuneration,
including sitting fees has been paid to any Director of the Company except to the Whole time Director.
The Company has complied with the provisions relating to constitution of Internal Complaints Committee under
The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. There was
no complaint of harassment, reported during the year.

BOARD MEETINGS
During the year 2021-22, 7 Board Meetings were held on 21.05.2021, 09.07.2021, 20.08.2021, 02.11.2021,
29.12.2021, 07.01.2022 and 04.03.2022.

KEY MANAGERIAL PERSONNEL

The Key Managerial Personnel of the Company for the purpose of the Companies Act, 2013 is Sri K.S.Viswanathan,
Wholetime Director designed as Chief Executive Officer.

AUDIT COMMITTEE
The present composition of Audit Committee consists of the following Directors as its members, viz.
(i) Sri R.Srinivasan, (ii) Sri K.Ramgopal and (iii) Sri B.Kalyanasundaram. There has been no instance, where the
Board has not accepted any recommendation of the Audit Committee.
The role and terms of reference of the Audit Committee cover the areas mentioned under Section 177 of the
Companies Act, 2013, besides other items as may be referred to by the Board of Directors from time to time.
During the year, the Committee met once on 20.08.2021.

AUDITORS
The Shareholders of the Company at the 5th Annual General Meeting held on 26th September 2019 appointed
M/s.Brahmayya & Co., Chartered Accountants, Chennai, as Statutory Auditors of the Company, to hold office
for a period of 5 years from the conclusion of the 5th Annual General Meeting until conclusion of the 10th Annual
General Meeting of the Company. The Company has obtained necessary Certificate from the Statutory Auditors
confirming their eligibility to continue as Statutory Auditors of the Company for the financial year 2022-23.
The Report of the Statutory Auditors for the year ended 31st March, 2022 does not contain any qualification,
reservation or other remarks.

CORPORATE SOCIAL RESPONSIBILITY (CSR)

A Report on CSR activities of the Company during the year 2021-22 is given in Annexure 1.

18
VIGIL MECHANISM
Pursuant to the provisions of Section 177(9) of the Companies Act, 2013, the Company has established a vigil
mechanism for directors and employees to report genuine concerns.

OTHER DISCLOSURES
During the year 2021-22, the Company has neither made any application nor has any proceedings pending under
the Insolvency and Bankruptcy Code, 2016. There was no instance of one-time settlement with any Bank or
financial institutions.

COST RECORDS
The Company is not required to maintain cost records as specified by the Central Government under
Section 148(1) of the Companies Act, 2013.

INTERNAL AUDITOR
Messrs Capri Assurance and Advisory Services has been appointed as internal auditors for the year 2022-23.

SECRETARIAL AUDITOR
Smt.P.R.Sudha, Practising Company Secretary, has been appointed as Secretarial Auditor of the Company
for the year 2022-23. The Secretarial Audit Report in Form MR 3 as prescribed under Section 204(1) of the
Companies Act, 2013 read with Rule-9 of Companies (Appointment and Remuneration of Managerial Personnel)
Rules, 2014, for the Financial Year 2021-22, is enclosed as Annexure 2. The Secretarial Audit Report does not
contain any qualification, reservation or other remarks. The Company has complied with applicable Secretarial
Standards issued by The Institute of Company Secretaries of India and approved by the Central Government.

ACKNOWLEDGEMENT
The continued dedication and sense of commitment shown by the employees at all levels during the year deserve
special mention.

For and on behalf of the Board

R. SRINIVASAN
Place: Chennai Chairman
Date: 10.08.2022 DIN: 00207398

19
 ANNEXURE ‘1’ TO DIRECTORS’ REPORT FOR THE YEAR ENDED 31ST MARCH, 2022
ANNUAL REPORT ON CORPORATE SOCIAL RESPONSIBILITY (CSR) ACTIVITIES 2021-22
[Pursuant to Section 135 of the Companies Act, 2013 read with
Companies (Corporate Social Responsibility Policy) Rules, 2014, as amended]

1. Brief outline on CSR Policy of the Company : Understanding, Supporting and Developing
the Communities and the Cultures within which
we work. Nurturing the Environment and the
Surroundings for the benefit of the Public over a
sustained period of time thereby enhancing the
value of the Company and all its stakeholders.
2. Composition of CSR Committee :
Sl. Name of Director Designation / Number of meetings of Number of meetings of CSR
No. Nature of Directorship CSR Committee held Committee attended during
during the year the year
1. Sri K S Viswanathan Chairman of CSR Committee, 1 1
Wholetime Director
2. Sri R Srinivasan Member, Director 1 1
3. Sri Rakesh Singh Member, Director 1 1
4. Sri B Kalyanasundaram Member, Independent Director 1 1

3. The web-link where Composition of CSR committee, : CSR Policy is available at the Company’s
CSR Policy and CSR projects approved by the board are website www.chennaisuperkings.com
disclosed on the website of the company
4. The details of Impact assessment of CSR projects carried : Not Applicable
out in pursuance of sub-rule (3) of rule 8 of the Companies
(Corporate Social responsibility Policy) Rules, 2014, if
applicable (attach the report)
5. Details of the amount available for set off in pursuance of :
sub-rule (3) of rule 7 of the Companies (Corporate Social
responsibility Policy) Rules, 2014 and amount required for
set off for the financial year, if any
Sl. No. Financial Year Amount available for set-off from preceding Amount required to be setoff for the financial year,
financial years (in ` Lakhs) if any (in ` Lakhs)
1. 2020-21 0.96 Nil

6. Average net profit of the company as per section 135(5) : ` 10110.82 Lakhs

7. (a) Two percent of average net profit of the company as per section 135(5) : ` 202.22 Lakhs
(b) Surplus arising out of the CSR projects or programmes or activities of the previous : Not Applicable
financial years.
(c) Amount required to be set off for the financial year, if any : Nil
(d) Total CSR obligation for the financial year (7a+7b-7c) : ` 202.22 Lakhs

20
8. (a) CSR amount spent or unspent for the financial year :
Amount Unspent (in ` Lakhs)
Total Amount
Spent for the Total Amount transferred to Unspent Amount transferred to any fund specified under Schedule VII as per
Financial Year CSR Account as per section 135(6) second proviso to section 135(5)
(in ` Lakhs)
Amount Date of transfer Name of the Fund Amount Date of transfer
202.80 - - - - -

(b) Details of CSR amount spent against ongoing projects for the financial year:

(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11)
Sl. Name of the Item from the Local Location of the Project Amount Amount Amount Mode of Mode of
No Project list of activities area project. duration allocated spent in transferred to Imple- Implementation
in Schedule VII (Yes/ for the the Unspent CSR menta- - Through
to the Act No) project current Account for the tion Implementing
(in ` financial project as per - Direct Agency
Lakhs) Year Section 135(6) (Yes/
State District Name CSR
(in ` (in ` Lakhs) No).
Regist-
Lakhs)
ration
number
1 Combat (i) Promoting Yes Tamil Chennai 3 years 300 114.80 NA Yes NA NA
COVID 19 Healthcare and Nadu
(xii) Disaster
Management

(c) Details of CSR amount spent against other than :

ongoing projects for the financial year
(1) (2) (3) (4) (5) (6) (7) (8)
Sl. Name of the Item from Local Location of the project Amount Mode of imple- Mode of imple-
No. Project the list of area spent for the mentation - mentation - Through
State District
activities in (Yes/ project Direct implementing agency.
schedule VII No). (in ` Lakhs) (Yes/No). (Name & CSR
to the Act. registration number)
1. Contribution to (ii) Promotion Yes Tamil Ariyalur 88.00 No T S N WELFARE
Educational of Education Nadu TRUST &
Institution CSR00025961

(d) Amount spent in Administrative Overheads : NIL

(e) Amount spent on Impact Assessment, if applicable : Not Applicable
(f) Total amount spent for the Financial Year : 202.80 Lakhs
(8b+8c+8d+8e)
(g) Excess amount for set off, if any :
Sl. Amount
Particulars
No. (in ` in Lakhs)
(i) Two percent of average net profit of the company as per section 135(5) 202.22
(ii) Total amount spent for the Financial Year 202.80
(iii) Excess amount spent for the financial year [(ii)-(i)] 0.58
(iv) Surplus arising out of the CSR projects or programmes or activities of the previous financial years, if any Nil
(v) Amount available for set off in succeeding financial years [(iii)-(iv)] 0.58

21
9. (a) Details of Unspent CSR amount for the preceding three financial years:
Sl. Preceding Amount transferred Amount spent in the Amount transferred to any fund specified Amount
No. Financial Year to Unspent CSR reporting Financial under Schedule VII as per section remaining to
Account under Year (in `) 135(6), if any. be spent in
section 135 (6) succeeding
Name of the Amount Date of
(in `) financial years.
Fund (in `) transfer
(in `)
Not Applicable

(b) Details of CSR amount spent in the financial year for ongoing projects of the preceding financial year(s):
(1) (2) (3) (4) (5) (6) (7) (8) (9)
Sl. Project ID. Name of Financial Year Project Total amount Amount spent Cumulative Status of
No. the Project in which the duration allocated for on the project amount spent the project -
project was the project in the reporting at the end Completed /
commenced. (in ` Lakhs) Financial Year (in of reporting Ongoing.
` Lakhs) Financial Year
(in ` Lakhs)
1. FY31.03.2021_1 Combat 2020-21 3 years 300.00 114.80 277.80 Completed
COVID 19
TOTAL 300.00 114.80 277.80

10. In case of creation or acquisition of capital asset, furnish the details relating to the asset so created or acquired
through CSR spent in the financial year (asset-wise details)
(a) Date of creation or acquisition of the capital asset(s) : None
(b) Amount of CSR spent for creation or acquisition of : Not Applicable
capital asset.
(c) Details of the entity or public authority or beneficiary : Not Applicable
under whose name such capital asset is registered,
their address etc.
(d) Provide details of the capital asset(s) created or : Not Applicable
acquired (including complete address and location of
the capital asset).

11. Specify the reason(s), if the company has failed to spend : Not Applicable
two per cent of the average net profit as per section 135(5)

On behalf of the Board

Place : Chennai K.S. VISWANATHAN

Date : 10.08.2022 Chairman, CSR Committee
(DIN: 06965671)

22
 ANNEXURE ‘2’ TO DIRECTORS’ REPORT FOR THE YEAR ENDED 31ST MARCH, 2022

P R SUDHA Flat ‘C’, Lakshmi Apartments, No. 171, 3rd Cross Street
Company Secretary Lakshmi Nagar, Porur, Chennai - 600 116.

Form No.MR-3
SECRETARIAL AUDIT REPORT
FOR THE FINANCIAL YEAR ENDED 31ST MARCH, 2022
[Pursuant to Section 204(1) of the Companies Act, 2013 and Rule 9 of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014]

To
The Members
Chennai Super Kings Cricket Limited

I have conducted the secretarial audit of the compliance of applicable statutory provisions and the adherence to
good corporate practices by Chennai Super Kings Cricket Limited (hereinafter called “the company”) during the
financial year 2021-22. Secretarial Audit was conducted in a manner that provided me a reasonable basis for
evaluating the corporate conducts/statutory compliances and expressing my opinion thereon.
Based on my verification of Chennai Super Kings Cricket Limited’s books, papers, minute books, forms and
returns filed and other records maintained by the Company and also the information provided by the Company, its
officers, agents and authorized representatives during the conduct of secretarial audit, I hereby report that in my
opinion, the Company has, during the audit period covering the financial year ended on 31.03.2022 complied with
the statutory provisions listed hereunder and also that the Company has proper Board processes and compliance-
mechanism in place to the extent, in the manner and subject to the reporting made hereinafter:
I have examined the books, papers, minute books, forms and returns filed and other records maintained by
Chennai Super Kings Cricket Limited for the financial year ended on 31.03.2022 according to the provisions of:
(i) The Companies Act, 2013 (the Act) and the Rules made thereunder;
(ii) Foreign Exchange Management Act, 1999 and the Rules and Regulations made thereunder to the extent
applicable;
(iii) Secretarial standards (SS-1, SS-2) issued by the Institute of Company Secretaries of India.
The Company is engaged in the business of owning and operating Cricket Teams and all cricket related activities.
As informed by the management, the following are some of the laws specifically applicable to the Company.
(a) Trade Marks Act, 2009 and its corresponding Rules thereto;
(b) Copyrights Act, 1957;
(c) Tamil Nadu Local Authorities Entertainment Tax Act, 2017; and
(d) Sale of Goods Act, 1930.
During the period under review and as per the explanations and clarifications given to me and the representation
made by the Management, the Company has complied with the provisions of the Act, Rules, Regulations,
Guidelines, Standards, etc. mentioned above, except instances which would not materially affect the operations
of the Company.
I further report that:
The Board of Directors of the Company is duly constituted with proper balance of Executive Directors, Non-
Executive Directors and Independent Directors. The changes in the composition of the Board of Directors that
took place during the period under review were carried out in compliance with the provisions of the Act.

23
P R SUDHA Flat ‘C’, Lakshmi Apartments, No. 171, 3rd Cross Street
Company Secretary Lakshmi Nagar, Porur, Chennai - 600 116.

Adequate notice is given to all directors to schedule the Board Meetings, agenda and detailed notes on agenda
were sent at least seven days in advance. A system exists for seeking and obtaining further information and
clarifications on the agenda items before the meeting and for meaningful participation at the meeting.
Decisions at the Board Meetings, as represented by the Management, were unanimous and therefore there were
no dissenting views that were required to be recorded.
I further report that as per the explanations given to me and the representations made by the Management and
relied upon by me, there are adequate systems and processes in the Company commensurate with the size and
operations of the Company to monitor and ensure compliance with applicable Laws, Rules, Regulations and
Guidelines.
I further report that:
1. Maintenance of Secretarial record is the responsibility of the management of the Company. My responsibility
is to express an opinion on these secretarial records based on my audit.
2. I have followed the audit practices and process as were appropriate to obtain reasonable assurance about the
correctness of the contents of the Secretarial records. The verification was done on test basis to ensure that
correct facts are reflected in secretarial records. I believe that the processes and practices, I followed provide
a reasonable basis for my opinion.
3. I have not verified the correctness and appropriateness of financial records and Books of Accounts of the
Company and have relied on the report of statutory auditors and financial statements.
4. Wherever required, I have obtained the management representation about the compliance of Laws, Rules
and Regulations and happening of events etc.
5. The compliance of the provisions of Corporate and other applicable Laws, Rules and Regulations, Standards
is the responsibility of management. My examination was limited to the verification of procedures on test
basis.
6. The Secretarial Audit report is neither an assurance as to the future viability of the Company nor of the efficacy
or effectiveness with which the management has conducted the affairs of the Company.

P.R. SUDHA
Place: Chennai FCS No.6046
Date : 10.08.2022 CP No.:4468
UDIN: F006046D00763902

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 Brahmayya & Co.
Chartered Accountants
No. 48, Masilamani Road
Balaji Nagar, Royapettah
Chennai - 600 014.

Independent Auditor’s Report

To the Members of Chennai Super Kings Cricket Limited

Report on the Audit of Financial Statements

Opinion
We have audited the accompanying Financial Statements of Chennai Super Kings Cricket Limited (‘the Company’),
which comprise the balance sheet as at 31 March 2022, the Statement of Profit and Loss and Statement of Cash
Flows for the year then ended including a summary of the significant accounting policies and other explanatory
information (hereinafter referred to as “Financial Statements”).
In our opinion and to the best of our information and according to the explanations given to us, the aforesaid
Financial Statements give the information required by the Companies Act, 2013 in the manner so required and
give a true and fair view in conformity with the Accounting Standards prescribed under Section 133 of the Act read
with relevant rules, as amended, and other accounting principles generally accepted in India, of the state of affairs
of the Company as at March 31, 2022, and its profit and its cash flows for the year ended on that date.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under Section 143(10)
of the Companies Act, 2013. Our responsibilities under those Standards are further described in the Auditor’s
Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Company
in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India (ICAI) together
with the ethical requirements that are relevant to our audit of the Financial Statements under the provisions of
the Companies Act, 2013 and the Rules thereunder, and we have fulfilled our other ethical responsibilities in
accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained
is sufficient and appropriate to provide a basis for our opinion on the Financial Statements.

Information Other than the Financial Statements and Auditor’s Report Thereon
The Company’s Board of Directors is responsible for the preparation of the other information. The other information
comprises the information included in the Board’s Report but does not include the Financial Statements and our
auditor’s report thereon.
Our opinion on the Financial Statements does not cover the other information and we do not express any form of
assurance conclusion thereon.
In connection with our audit of the Financial Statements, our responsibility is to read the other information and, in
doing so, consider whether the other information is materially inconsistent with the Financial Statements or our
knowledge obtained during the course of our audit or otherwise appears to be materially misstated.
If, based on the work we have performed, we conclude that there is a material misstatement of this other
information, we are required to report that fact. We have nothing to report in this regard.

Responsibilities of Management and Those Charged with Governance for the Financial Statements
The Company’s Board of Directors is responsible for the matters stated in Section 134(5) of the Companies
Act, 2013 (“the Act”) with respect to the preparation of these Financial Statements that give a true and fair view
of the financial position, financial performance, profit and loss and cash flows of the Company in accordance
with the accounting principles generally accepted in India, including the Accounting Standards specified under
Section 133 of the Act.

25
 Brahmayya & Co.
Chartered Accountants
No. 48, Masilamani Road
Balaji Nagar, Royapettah
Chennai - 600 014.

This responsibility also includes maintenance of adequate accounting records in accordance with the provisions
of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other
irregularities; selection and application of appropriate accounting policies; making judgments and estimates that
are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls,
that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant
to the preparation and presentation of the Financial Statements that give a true and fair view and are free from
material misstatement, whether due to fraud or error.
In preparing the Financial Statements, management is responsible for assessing the Company’s ability to continue
as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis
of accounting unless management either intends to liquidate the Company or to cease operations, or has no
realistic alternative but to do so.
The Board of Directors are responsible for overseeing the Company’s financial reporting process.

Auditor’s Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the Financial Statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from
fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected
to influence the economic decisions of users taken on the basis of these Financial Statements.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional
skepticism throughout the audit. We also:
• Identify and assess the risks of material misstatement of the Financial Statements, whether due to fraud
or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is
sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement
resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery,
intentional omissions, misrepresentations, or the override of internal control.
• Obtain an understanding of internal financial controls relevant to the audit in order to design audit procedures
that are appropriate in the circumstances. Under Section 143(3)(i) of the Act, we are also responsible for
expressing our opinion on whether the Company has adequate internal financial controls system in place and
the operating effectiveness of such controls.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates
and related disclosures made by management.
• Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based
on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may
cast significant doubt on the Company’s ability to continue as a going concern. If we conclude that a material
uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the
Financial Statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based
on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may
cause the Company to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the Financial Statements, including the disclosures,
and whether the Financial Statements represent the underlying transactions and events in a manner that
achieves fair presentation.

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 Brahmayya & Co.
Chartered Accountants
No. 48, Masilamani Road
Balaji Nagar, Royapettah
Chennai - 600 014.

We communicate with those charged with governance regarding, among other matters, the planned scope and
timing of the audit and significant audit findings, including any significant deficiencies in internal control that we
identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical
requirements regarding independence, and to communicate with them all relationships and other matters that
may reasonably be thought to bear on our independence, and where applicable, related safeguards.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor’s Report) Order, 2016 (“the Order”) issued by the Central Government
of India in terms of Section 143(11) of the Act, we give in the “Annexure A”, a statement on the matters
specified in the paragraph 3 and 4 of the order, to the extent applicable.
2. As required by Section 143(3) of the Act, we report that:
(a) We have sought and obtained all the information and explanations which to the best of our knowledge and
belief were necessary for the purposes of our audit.
(b) In our opinion proper books of accounts as required by law have been kept by the Company so far as it
appears from our examination of those books;
(c) The balance sheet, the Statement of Profit and Loss and the Statement of Cash Flows dealt with by this
Report are in agreement with the books of accounts;
(d) In our opinion, the aforesaid Financial Statements comply with the Accounting Standards prescribed
under Section 133 of the Act read with relevant rules, as amended.
(e) On the basis of the written representations received from the directors of the Company as on March 31,
2022 taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2022
from being appointed as a director in terms of Section 164 (2) of the Act;
(f) With respect to the adequacy of the internal financial controls over financial reporting of the Company and
the operating effectiveness of such controls, refer to our separate report in “Annexure B”. Our report
expresses an unmodified opinion on the adequacy and operating effectiveness of the Company’s internal
financial controls over financial reporting.
(g) With respect to the other matters to be included in the Auditor’s Report in accordance with Rule 11 of
the Companies (Audit and Auditors) Rules, 2014, as amended, in our opinion and to the best of our
information and according to the explanations given to us:
i) The Company has disclosed the impact of pending litigations on its financial position in its financial
statements – Refer Note 29 to the Financial Statements.
ii) The Company did not have any long-term contracts including derivative contracts for which there were
any material foreseeable losses;
iii) Currently there are no amounts held by the Company that are required to be transferred to Investor
Education and Protection Fund hence we do not comment on the same;
iv) (a) The Management has represented that, to the best of its knowledge and belief, no funds (which are
material either individually or in the aggregate) have been advanced or loaned or invested (either
from borrowed funds or share premium or any other sources or kind of funds) by the Company to
or in any other person or entity, including foreign entity (“Intermediaries”), with the understanding,
whether recorded in writing or otherwise, that the Intermediary shall, whether, directly or indirectly

27
 Brahmayya & Co.
Chartered Accountants
No. 48, Masilamani Road
Balaji Nagar, Royapettah
Chennai - 600 014.

lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of
the Company (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of
the Ultimate Beneficiaries;
(b) The Management has represented, that, to the best of its knowledge and belief, no funds (which
are material either individually or in the aggregate) have been received by the Company from
any person or entity, including foreign entity (“Funding Parties”), with the understanding, whether
recorded in writing or otherwise, that the Company shall, whether, directly or indirectly, lend or
invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding
Party (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the
Ultimate Beneficiaries;
(c) Based on the audit procedures that have been considered reasonable and appropriate in the
circumstances, nothing has come to our notice that has caused us to believe that the representations
under sub-clause (i) and (ii) of Rule 11(e), as provided under (a) and (b) above, contain any
material misstatement.
v) The company has not declared dividend during the current year and the previous year, hence the
clause regarding compliance with Section 123 of the Act is not applicable.
3. In our opinion and to the best of our information and according to the explanations given to us, the remuneration
paid/provided by the company to its directors during the year is in accordance with the provisions of Section
197 of the Act read with schedule V to the Act.

For Brahmayya & Co.

Chartered Accountants
Firm Regn No: 000511S
N. Sri Krishna
Partner
Place: Chennai Membership No.026575
Date: 10th August, 2022 UDIN: 22026575AORTTY1610

28
 Brahmayya & Co.
Chartered Accountants
No. 48, Masilamani Road
Balaji Nagar, Royapettah
Chennai - 600 014.

Annexure – “A” to the Independent Auditor’s Report

The Annexure referred to in Independent Auditors’ Report to the members of the Company on the Financial
Statements for the year ended 31 March 2022, we report that:
i) (a) A. The Company has maintained proper records showing full particulars, including quantitative details
and situation of fixed assets.
B. The company is maintaining proper records showing full particulars of intangible assets
(b) Fixed assets were physically verified by the management at reasonable intervals. According to the
information and explanations given to us, no material discrepancies were noticed on such verification.
In our opinion, this periodicity of physical verification is reasonable having regard to the size of the
Company and the nature of its assets.
(c) In our opinion and according to the information and explanations given to us and on the basis of our
examination of the records of the Company, the title deeds of immovable properties are held in the name
of the Company.
(d) The Company has not revalued its Property, Plant and Equipment and intangible assets during the year.
(e) In our opinion and according to the information and explanations given to us and on the basis of our
examination of records of the Company, no proceedings have been initiated against the Company for
holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and
rules made thereunder.

ii) As the Company had no Inventories during the year, clause (ii) of paragraph of 3 of the Order is not applicable
to the Company.

iii) According to the information and explanations given to us and on the basis of our examination of the records
of the Company, the Company has not given any security/provided guarantee or advance in nature of loans
to companies, firms, limited liability partnership or any other parties. The Company has granted loans to
subsidiary and other parties in respect of which the requisite information is as below.
(a) Based on the audit procedures carried on by us and as per the information and explanations given to us,
the Company has provided loans as detailed below:
` in Lakhs

Particulars Loans
Aggregate amount granted/provided during the year
Subsidiary 190.79
Others – Inter Corporate Deposit (ICD) 19500.00
Balance outstanding as at balance sheet date in respect of above cases:
Subsidiary 190.79
Others – Inter Corporate Deposit (ICD) -

(b) According to the information and explanations given to us and based on the audit procedures performed
by us, we are of the opinion that investments made and the terms and conditions of the grant of all loans
provided are not prejudicial to the company’s interest.

29
 Brahmayya & Co.
Chartered Accountants
No. 48, Masilamani Road
Balaji Nagar, Royapettah
Chennai - 600 014.

(c) In respect of loans granted or advances in the nature of loans provided by the Company, the schedule
of repayment of principal and payment of interest has been stipulated and the repayments of principal
amounts and receipts of interest are regular as per stipulation.
(d) According to information and explanations given to us and based on the audit procedures performed,
in respect of loans granted and advances in the nature of loans provided by the Company, there is no
overdue amount remaining outstanding as at the balance sheet date.
(e) No loan or advance in the nature of loan granted by the Company which has fallen due during the year,
has been renewed or extended or fresh loans granted to settle the over dues of existing loans given to
the same parties. However, new loans have been granted to the same / New parties who have repaid
their existing loans if any. There have been no delays in payment of Interest and Principal from these
parties.
(f) According to information and explanations given to us and based on the audit procedures performed,
the Company has granted interest free loan to a subsidiary which is repayable on demand or without
specifying any terms or period and details are as follows:
` in Lakhs

Particulars Loans
Aggregate amount of loan granted/provided during the year 190.79
Percentage of loans to the total loans 0.97%

iv) Company has not directly or indirectly advanced loan to the persons covered under Section 185 of the Act or
given guarantees or securities in connection with the loan taken by such persons and has complied with the
provisions of Section 186 of the Act, in respect of loans given. There was no guarantee or security given by
the Company and hence not commented to that extent.

v) In our opinion and according to the information and explanations given to us, the Company has not accepted
any deposit from the public within the meaning of provisions of Section 73 to 76 or any other relevant
provisions of the Act and the Rules framed thereunder. Therefore, the provisions of Clause (v) of Para 3 of
CARO 2016 order are not applicable to the Company.

vi) In our opinion and according to the information and explanations given to us, the Central Government has
not prescribed the maintenance of cost records under sub-Section (1) of Section 148 of the Act in respect of
the activities undertaken by the company.

vii) (a) The Company has generally been regular in depositing undisputed statutory dues, including Provident
Fund, Employees’ State Insurance, Income Tax, Sales Tax, Service Tax, Goods and Service Tax,
Value Added Tax, Customs Duty, Excise Duty, Cess and other statutory dues applicable to it with
the appropriate authorities. There were no undisputed amounts payable in respect of Provident Fund,
Employees’ State Insurance, Income Tax, Sales Tax, Service Tax, Value Added Tax, Goods and Service
Tax, Customs Duty, Excise Duty, Cess and other statutory dues in arrears as at March 31, 2022 for a
period of more than six months from the date they became payable.
(b) According to the information and explanation given to us and on the basis of our examination of the
records of the Company, details of dues of Income Tax, Sales Tax, Service Tax, Goods and Service
Tax, Duty of Customs, Duty of Excise, Value Added Tax which have not been deposited as on
31-03-2022 on account of any dispute and the forum where disputes are pending is given as follows:

30
 Brahmayya & Co.
Chartered Accountants
No. 48, Masilamani Road
Balaji Nagar, Royapettah
Chennai - 600 014.

Name of the Nature of the Amount Period to which Forum where the
Statute Dues (` In Lakhs) the amount relates dispute is pending
Finance Act, 1994 Service Tax 678.29 2015 to 2017 High Court of Madras

viii) In our opinion and according to the information and explanations given to us, the Company has not surrendered
or disclosed any transaction as income during the year as tax assessments under the Income Tax Act, 1961.

ix) In our opinion and according to the information and explanations given to us and on examination of records
of the company,
(a) The Company has not taken any loans or other borrowings from any lender. Hence reporting under
clause 3 (ix)(a) of the Order is not applicable to the Company.
(b) The Company has not been declared wilful defaulter by any bank or financial institution or government
or any government authority.
(c) The Company has not taken any loan during the year and there are no unutilised term loans at the
beginning of the year and hence, reporting under clause 3 (ix)(c) of the Order is not applicable.
(d) On an overall examination of the financial statements of the Company, funds raised on short-term basis
have, prima facie, not been used during the year for long-term purposes by the Company.
(e) We report that the Company has neither taken any funds from any entity or person during the year nor
it had any unutilised funds as at the beginning of the year of the funds raised through issue of shares
or borrowings in the previous year and hence, reporting under clause 3 (ix)(e) of the Order is not
applicable.
(f) The Company has not raised any loans during the year and hence reporting under clause 3 (ix) (f) of the
Order is not applicable.

x) According to the information and explanations given to us during the year,

(a) The Company has not issued any of its securities (including debt instruments) during the year and
hence reporting under clause 3 (x)(a) of the Order is not applicable.
(b) The Company has not made any preferential allotment or private placement of shares or convertible
debentures (fully or partly or optionally) and hence reporting under clause 3 (x)(b) of the Order is not
applicable to the Company.

xi) According to the information and explanations given to us,

(a) No material fraud by the Company or on the Company by its officers or employees has been noticed or
reported during the course of our audit.
(b) No report under sub-section (12) of section 143 of the Companies Act has been filed by the auditors
in Form ADT-4 as prescribed under Rule 13 of Companies (Audit and Auditors) Rules, 2014 with the
Central Government.
(c) The company has not received any whistle-blower complaints during the year.

xii) In our opinion and according to the information and explanations given to us, the Company is not a Nidhi
company. Accordingly, paragraph 3(xii) of the Order is not applicable.

31
 Brahmayya & Co.
Chartered Accountants
No. 48, Masilamani Road
Balaji Nagar, Royapettah
Chennai - 600 014.

xiii) According to the information and explanations given to us and based on our examination of the records
of the Company, the company is in compliance with Sections 177 and 188 of the Act where applicable for
all transactions with related parties and details of such transactions have been disclosed in the Financial
Statements as required by the applicable accounting standards.

xiv) According to the information and explanations given to us and based on the results of the audit procedure
performed,
(a) The company has an adequate internal audit system commensurate with the size and nature of its
business.
(b) We have considered, the internal audit reports for the year under audit, issued to the Company during
the year and till date, in determining the nature, timing and extent of our audit procedures.

xv) According to the information and explanations given to us and based on our examination of the records of
the Company, the Company has not entered into non-cash transactions with directors or persons connected
with him. Accordingly, paragraph 3(xv) of the Order is not applicable.

xvi) According to the information and explanations given to us and based on our examination of the records of
the Company,
(a) The Company is not required to be registered under section 45-IA of the Reserve Bank of India Act,
1934.
(b) The company has not conducted any Non- Banking Financial or Housing Finance activities without a
valid Certificate of Registration (CoR) from the Reserve Bank of India as per the Reserve Bank of India
Act, 1934.
(c) The company is not a Core Investment Company (CIC) as defined in the regulations made by the
Reserve Bank of India
(d) The company is not part of a group of companies, hence clause 3(xvi)(d) is not applicable.

xvii) According to the information and explanations given to us and based on our examination of the records of
the Company, the Company has not incurred cash losses during the year.

xviii) There has been no resignation of the statutory auditor during the year.

xix) On the basis of the financial ratios, ageing and expected dates of realization of assets and payment of liabilities,
other information accompanying the financial statements and our knowledge of the Board of Directors and
Management plans and based on our examination of the evidence supporting the assumptions, nothing has
come to our attention, which causes us to believe that any material uncertainty exists as on the date of the
audit report indicating that Company is not capable of meeting its liabilities existing at the date of balance
sheet as and when they fall due within a period of one year from the balance sheet date. We, however, state
that this is not an assurance as to the future viability of the Company. We further state that our reporting is
based on the facts up to the date of the audit report and we neither give any guarantee nor any assurance
that all liabilities falling due within a period of one year from the balance sheet date, will get discharged by
the Company as and when they fall due.

32
 Brahmayya & Co.
Chartered Accountants
No. 48, Masilamani Road
Balaji Nagar, Royapettah
Chennai - 600 014.

xx) (a) In our opinion, according to the information and explanations given to us and based on our examination
of the records of the Company, the Company has no ongoing CSR projects. Accordingly, Para 3(xx)(a)
of Order is not applicable.
(b) In our opinion, according to the information and explanations given to us and based on our examination
of the records of the Company, the company has no amount remaining unspent under sub section (5)
of Section 135 of Companies Act. Accordingly, Para 3(xx)(b) of Order is not applicable.

For Brahmayya & Co.

Chartered Accountants
Firm Regn No: 000511S
N. Sri Krishna
Partner
Place: Chennai Membership No.026575
Date: 10th August, 2022 UDIN: 22026575AORTTY1610

33
 Brahmayya & Co.
Chartered Accountants
No. 48, Masilamani Road
Balaji Nagar, Royapettah
Chennai - 600 014.

Annexure - B to the Auditors’ Report

Report on the Internal Financial Controls under Clause (i) of Sub-Section 3 of Section 143 of the Companies
Act, 2013 (“the Act”)
We have audited the internal financial controls over financial reporting of Chennai Super Kings Cricket Limited
(“the Company”) as of 31 March 2022 in conjunction with our audit of the Financial Statements of the Company
for the year ended on that date.

Management’s Responsibility for Internal Financial Controls

The Company’s management is responsible for establishing and maintaining internal financial controls based
on the internal control over financial reporting criteria established by the Company considering the essential
components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial
Reporting issued by the Institute of Chartered Accountants of India (‘ICAI’). These responsibilities include the
design, implementation and maintenance of adequate internal financial controls that were operating effectively
for ensuring the orderly and efficient conduct of its business, including adherence to Company’s policies, the
safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness
of the accounting records, and the timely preparation of reliable financial information, as required under the
Companies Act, 2013.

Auditors’ Responsibility
Our responsibility is to express an opinion on the Company’s internal financial controls over financial reporting
based on our audit. We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial
Controls over Financial Reporting (the “Guidance Note”) and the Standards on Auditing, issued by ICAI and
deemed to be prescribed under Section 143(10) of the Companies Act, 2013, to the extent applicable to an audit
of internal financial controls, both applicable to an audit of Internal Financial Controls and, both issued by the
Institute of Chartered Accountants of India. Those Standards and the Guidance Note require that we comply with
ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate
internal financial controls over financial reporting was established and maintained and if such controls operated
effectively in all material respects.
Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial
controls system over financial reporting and their operating effectiveness. Our audit of internal financial controls
over financial reporting included obtaining an understanding of internal financial controls over financial reporting,
assessing the risk that a material weakness exists, and testing and evaluating the design and operating
effectiveness of internal control based on the assessed risk. The procedures selected depend on the auditor’s
judgment, including the assessment of the risks of material misstatement of the Financial Statements, whether
due to fraud or error.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit
opinion on the Company’s internal financial controls system over financial reporting.

Meaning of Internal Financial Controls Over Financial Reporting

A company’s internal financial control over financial reporting is a process designed to provide reasonable
assurance regarding the reliability of financial reporting and the preparation of Financial Statements for external
purposes in accordance with Generally Accepted Accounting Principles. A Company’s internal financial control
over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that,
in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the Company;

34
 Brahmayya & Co.
Chartered Accountants
No. 48, Masilamani Road
Balaji Nagar, Royapettah
Chennai - 600 014.

(2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of Financial
Statements in accordance with Generally Accepted Accounting Principles, and that receipts and expenditures of
the Company are being made only in accordance with authorisations of management and directors of the Company;
and (3) provide reasonable assurance regarding prevention or timely detection of unauthorised acquisition, use,
or disposition of the Company’s assets that could have a material effect on the Financial Statements.

Inherent Limitations of Internal Financial Controls Over Financial Reporting

Because of the inherent limitations of internal financial controls over financial reporting, including the possibility of
collusion or improper management override of controls, material misstatements due to error or fraud may occur
and not be detected. Also, projections of any evaluation of the internal financial controls over financial reporting
to future periods are subject to the risk that the internal financial control over financial reporting may become
inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures
may deteriorate.

Opinion
In our opinion, the Company has, in all material respects, an adequate internal financial controls system over
financial reporting and such internal financial controls over financial reporting were operating effectively as at
31st March, 2022, based on the internal control over financial reporting criteria established by the Company
considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial
Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India.

For Brahmayya & Co.

Chartered Accountants
Firm Regn No: 000511S
N. Sri Krishna
Partner
Place: Chennai Membership No.026575
Date: 10th August, 2022 UDIN: 22026575AORTTY1610

35
 BALANCE SHEET AS AT 31ST MARCH 2022
As at As at
Note 31st March 2022 31st March 2021
No.
` in Lakhs ` in Lakhs ` in Lakhs ` in Lakhs
EQUITY AND LIABILITIES
1. Shareholders' Funds :
a. Share Capital 2 308.15 308.15
b. Reserves and Surplus 3 24,515.87 24,824.02 21,303.38 21,611.53
2. Non-Current Liabilities :
a. Long-term borrowings 4 0.00 6,500.00
b. Deferred tax liabilities (Net) 5 0.00 117.57
c. Long Term Provisions 6 36.84 36.84 29.49 6,647.06
3. Current Liabilities :
a. Short Term Borrowings 7 6,500.00 0.00
b. Trade Payables 8
(i) Total outstanding dues of micro enterprises and
0.00 9.47
small enterprises
(ii) Total outstanding dues of creditors other than
2,822.78 1,345.17
micro enterprises and small enterprises
c. Other Current Liabilities 9 4,846.88 2,007.27
d. Short Term Provisions 10 2.34 14,172.00 1.61 3,363.52
39,032.86 31,622.11
ASSETS
1. Non-Current Assets :
a. Property, Plant and Equipment 11
(i) Tangible Assets 12,963.34 14,128.19
(ii) Intangible Assets 616.31 13,579.65 349.33 14,477.52
b. Non Current Investments 12 10.00 0.00
c. Deferred Tax Asset (Net) 13 64.12 0.00
d. Long Term Loans and Advances
(i) Capital Advances 14 1,144.78 604.53
(ii) Other Loans and Advances 15 3,506.85 4,651.63 1,612.51 2,217.04
2. Current Assets :
a. Trade Receivables 16 3,740.58 2,191.88
b. Cash and Cash Equivalents 17 13,534.90 12,179.51
c. Short-term loans and advances 18 889.10 7.49
d. Other current Assets 19 2,562.88 20,727.46 548.67 14,927.55
39,032.86 31,622.11
Notes to the Financial Statements 1 to 50

As per our report of even date For and on behalf of Board of Directors
for BRAHMAYYA & CO.
Chartered Accountants
R. SRINIVASAN K.S. VISWANATHAN
Firm Regn No : 000511S
Chairman Wholetime Director & CEO
N Sri Krishna DIN: 00207398 DIN : 06965671
Partner
Membership No: 026575
RAKESH SINGH E. JAYASHREE
Place: Chennai Director Director
Date: 10.08.2022 DIN: 07563110 DIN: 07561385

36
 STATEMENT OF PROFIT AND LOSS
FOR THE YEAR ENDED 31ST MARCH 2022
For the Year For the Year
Note
2021-22 2020-21
No.
` Lakhs ` Lakhs
Revenue from Operations 20 34,105.11 24,783.40
Other Income 21 809.15 586.46
Total Revenue 34,914.26 25,369.86

Expenses
Cost of Operations 22 28,159.71 17,941.64
Employee benefits expense 23 318.30 247.77
Finance cost 24 567.65 526.34
Depreciation and Amortisation Expenses 11 240.35 333.73
Other Expenses 25 1,495.06 400.53
Total Expenses 30,781.07 19,450.01

Profit/(Loss) before exceptional and extraordinary items and tax 4,133.19 5,919.85
Less : Exceptional Items 0.00 0.00
Profit/(Loss) before extraordinary items and tax 4,133.19 5,919.85
Less : Extraordinary items 0.00 0.00
Profit/(Loss) before tax 4,133.19 5,919.85
Less : Current Tax 1,102.38 1,763.81
Less : Deferred Tax (181.68) 129.82
Profit/(Loss) After tax 3,212.49 4,026.22

Earnings Per Equity Share (EPS) 26

Face value per share - fully paid up ` 0.10 per share ` 0.10 per share
Basic (`) 1.04 1.31
Diluted (`) 0.95 1.16

Notes to the Financial Statements 1 to 50

As per our report of even date For and on behalf of Board of Directors
for BRAHMAYYA & CO.
Chartered Accountants
R. SRINIVASAN K.S. VISWANATHAN
Firm Regn No : 000511S
Chairman Wholetime Director & CEO
N Sri Krishna DIN: 00207398 DIN : 06965671
Partner
Membership No: 026575
RAKESH SINGH E. JAYASHREE
Place: Chennai Director Director
Date: 10.08.2022 DIN: 07563110 DIN: 07561385

37
 CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH 2022
For the Year For the Year
2021-22 2020-21
` Lakhs ` Lakhs ` Lakhs ` Lakhs
A. Cash flow from operating activities:
Net Profit/(Loss) before exceptional and extraordinary items
4,133.19 5,919.85
and tax
Exceptional and extraordinary items 0.00 0.00
Net Profit / (Loss) before tax 4,133.19 5,919.85
Adjustments for non-operating and non-cash expenses:
Depreciation and Amortisation 240.35 333.73
Loss on Assets discarded 1,141.15 0.00
Interest expenses 567.65 526.34
Interest received (809.15) 1,140.00 (586.46) 273.61
Operating profit before working capital changes 5,273.19 6,193.46
Adjustment for changes in working capital:-
Trade receivables (1,548.70) (1,833.80)
Other receivables (5,330.41) 174.13
Inventories 0.00 0.00
Trade and other payables 4,315.85 (2,563.26) 918.45 (741.22)
Cash generated from operations 2,709.93 5,452.24
Direct taxes (Income Tax Paid) (1,102.38) (1,763.81)
Cash flows before extraordinary items 1,607.54 3,688.43
Net cash from operating activities (A) 1,607.54 3,688.43
B. Cash flow from investing activities:
Interest received 809.15 586.46
Non-Current Investment (10.00) 0.00
Purchase of fixed assets / Intangibles (483.65) (486.29)
Net cash from investing activities (B) 315.50 100.17
C. Cash flow from financing activities:
Interest Paid (567.65) (526.34)
Net cash from financing activities (C) (567.65) (526.34)
D. Net Increase / (Decrease) in cash and cash Equivalents
1,355.39 3,262.26
(A+B+C)
Cash and Cash equivalents at the beginning of the year 12,179.51 8,917.25
Cash and Cash equivalents at the end of the year 13,534.90 12,179.51

As per our report of even date For and on behalf of Board of Directors
for BRAHMAYYA & CO.
Chartered Accountants
R. SRINIVASAN K.S. VISWANATHAN
Firm Regn No : 000511S
Chairman Wholetime Director & CEO
N Sri Krishna DIN: 00207398 DIN : 06965671
Partner
Membership No: 026575
RAKESH SINGH E. JAYASHREE
Place: Chennai Director Director
Date: 10.08.2022 DIN: 07563110 DIN: 07561385

38
NOTES ON ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2022
1. (i) CORPORATE INFORMATION
Chennai Super Kings Cricket Limited (hereinafter referred as “Company”) is a company incorporated in India
under the provisions of Companies Act, 2013 having its registered office at Dhun Building, 827, Anna Salai,
Chennai-600002. Company owns and operates the Chennai franchise of BCCI-IPL T20 Cricket League namely
“Chennai Super Kings” from The India Cements Limited on 20th February 2015.

(ii) BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared to comply in all material respects with the Generally Accepted
Accounting Principles in India under the historical cost convention on accrual basis pursuant to Section 133 of the
Companies Act, 2013 (“the Act”) read with the Accounting Standards issued by the National Advisory Committee
on Accounting Standards (NACAS) and The Institute of Chartered Accountants of India (ICAI). Accounting policies
have been consistently applied by the company except where a newly issued Accounting Standard is initially
adopted or a revision to an existing Standard required a change in accounting policy hitherto in use.
The preparation of financial statements in conformity with Generally Accepted Accounting Principles 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 the results of operations during the
reporting period. Although these estimates are based upon management’s best knowledge of current events and
actions, actual results could differ from these estimates.
Company’s financial statements are presented in Indian Rupees, which is its functional currency and all values are
rounded to the nearest lakhs, except when otherwise indicated.

Classification of assets and liabilities into Current / Non-current.

All assets and liabilities are presented as current or non-current as per the Company’s normal operating cycle and
other criteria set out in the Schedule III of the Companies Act, 2013. The Company has ascertained its operating
cycle as 12 months for the purpose of Current / Non-current classification of assets and liabilities.

(iii) SIGNIFICANT ITEMS OF ACCOUNTING POLICY

a. Use of Estimates :
The preparation of the financial statements requires the Management to make estimates and assumptions
considered in the reported amounts of assets and liabilities (including contingent liabilities) as of the date of the
financial statements and the reported income and expenses during the year. Such estimates are necessarily
based on assumptions regarding several factors. The Management believes that the estimates used in the
preparation of the financial statements are prudent and reasonable. Future results may vary from these
estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the year in which the estimate is revised and future years affected.

b. System of Accounting :
The Company adopts the accrual concept read with point no. l & m in the preparation of the financial statements.
The Balance Sheet and the Statement of Profit and Loss of the Company are prepared in accordance with the
provisions contained in Section 129 read with Schedule III of the Companies Act, 2013.

c. Inflation :
Assets and liabilities are recorded at historical cost to the Corporation. These costs are not adjusted to reflect
the changing value in the purchasing power of money.

d. Operating Cycle :
Based on the nature of its activities, the Company has determined its operating cycle as 12 months for the
purpose of classification of its assets and liabilities as current and non-current.

39
NOTES ON ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2022 - (Contd.)
e. Cash Flow Statement :
Cash flows are reported using the indirect method, whereby profit/(loss) before extraordinary items and tax is
adjusted for the effects of transactions of non-cash nature and any deferrals or accruals of past or future cash
receipts or payments. The cash flows from operating, investing and financing activities of the Company are
segregated based on the available information.

f. Current and Non-current Classification:

All assets and liabilities are presented as Current or Non-current as per the Company’s normal operating cycle
and other criteria set out in the Schedule III of the Companies Act, 2013. The Company has ascertained its
operating cycle as 12 months for the purpose of Current / Non-current classification of assets and liabilities.

g. Inventories:
Merchandise for various tournaments held as inventories, are valued at cost or Net Realisable Value whichever
is lower.

h. Property, Plant and Equipment:

Property, Plant and Equipment are accounted at cost. The cost of Property, Plant and Equipment comprises
their purchase price net of any trade discounts and rebates, and recoverable import duties and other taxes,
eligible borrowing costs and any directly attributable expenditure on making the asset ready for their intended
use and adjustments arising from exchange rate variations attributable to the intangible assets. Depreciation is
recognised using straight line method based on useful life of the assets in accordance with Schedule II of the
Companies Act, 2013.
The residual values, useful lives and methods of depreciation of Property, Plant and Equipment are reviewed
at each financial year end and adjusted prospectively, if appropriate.

i. Intangible assets:
Intangible Assets are stated at cost of acquisition net of recoverable taxes, trade discount and rebates less
accumulated amortisation/depletion and impairment loss, if any. Such cost includes purchase price, borrowing
costs, and any cost directly attributable to bringing the assets to its working condition for the intended use, and
adjustments arising from exchange rate variations attributable to the intangible assets.
The Company determines the amortisation period as the period over which the future economic benefits will
flow to the Company after taking into account all relevant facts and circumstances.

j. Impairment of tangible and intangible assets:

The company assesses at each reporting date whether there is an indication that an asset may be impaired. If
any indication exists, or when annual impairment testing for an asset is required, the Company estimates the
asset’s recoverable amount. An asset’s recoverable amount is the higher of an asset’s or Cash-Generating
Unit’s (CGU) net selling price and its value in use. The recoverable amount is determined for an individual
asset, unless the asset does not generate cash inflows that are largely independent of those from other assets
or groups of assets. Where the carrying amount of an asset or CGU exceeds its recoverable amount, the asset
is considered impaired and is written down to its recoverable amount. In assessing value in use, the estimated
future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market
assessments of the time value of money and the risks specific to the asset. If no such transactions can be
identified, an appropriate valuation model is used. Impairment losses are recognised in the Statement of Profit
and Loss.
After impairment, depreciation is provided on the revised carrying amount of the asset over its remaining
useful life. An assessment is made at each reporting date as to whether there is any indication that previously
recognised impairment losses may no longer exist or may have decreased. If such indication exists, the
company estimates the asset’s or Cash-Generating Unit’s recoverable amount. A previously recognised

40
NOTES ON ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2022 - (Contd.)
impairment loss is reversed only if there has been a change in the assumptions used to determine the asset’s
recoverable amount since the last impairment loss was recognised. The reversal is limited so that the carrying
amount of the asset does not exceed its recoverable amount, nor exceed the carrying amount that would have
been determined, net of depreciation, had no impairment loss been recognised for the asset in prior years.
Such reversal is recognised in the Statement of Profit and Loss.

k. Cash and Cash Equivalent:

Cash and cash equivalents comprise of cash on hand, cash at bank, Term fixed deposits with Banks that are
readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.

l. Revenue Recognition:
Revenue is recognised to the extent that it is probable that the economic benefit will flow to the Company and
the revenue can be reliably measured.
i. Revenue from sponsorship income, brand promotional activities, gate collection, sale of merchandise
and the Central Rights including the participation fees and prize money for a season will be accrued and
accounted in financial year in which the relevant tournament is concluded.
ii. Revenue pertaining to non-tournament related activities is recognised as per the underlying contract.
iii. Interest Income is recognised on a time proportion basis taking into account the amount outstanding and
the rate applicable.

m. Payments to players and supporting staff:

All payments to players, support staff and other constituents (as per contractual obligations with respect of
players / support staff / others) for a tournament season will be accrued and accounted in the financial year in
which the relevant tournament is concluded. Wherever discretionary payments are made based on the team
achievements, the same is accounted upon determination.

n. Employee Benefits:
i. Short-Term Employee Benefits: The undiscounted amount of short-term employee benefits expected
to be paid in exchange for the services rendered by employees are recognised as an expense during the
period when the employees render the services.
ii. Long-term employee Benefits: Compensated absences which are not expected to occur within twelve
months after the end of the period in which the employee renders the related service are recognised as a
liability at the present value of the defined benefit obligation as at the Balance Sheet date.
iii. Post-Employment Benefits:
Defined Contribution Plans: The Company makes specified monthly contributions towards Provident
Fund and Pension Scheme according to “The Employees’ Provident Funds and Miscellaneous Provisions
Act, 1952”. The Company’s contribution is recognised as an expense in the Profit and Loss Statement
during the period in which the employee renders the related service.
Defined Benefit Plans : The liability in respect of defined benefit plans and other post-employment
benefits is calculated using the Projected Unit Credit Method with actuarial valuations being carried out at
each reporting date and spread over the period during which the benefit is expected to be derived from
employees’ services.

o. Borrowing costs :
Borrowing cost includes interest, amortisation of ancillary costs incurred in connection with the arrangement
of borrowings and exchange differences arising from foreign currency borrowings to the extent at which they
are regarded as an adjustment to the interest cost and bank charges. Borrowing costs directly attributable to
the acquisition of an asset, that necessarily takes a substantial period of time to get ready for its intended use
are capitalised as part of the cost of the respective asset. All other borrowing costs are expensed in the period
they occur.

41
NOTES ON ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2022 - (Contd.)
p. Foreign Currency Transactions:
Transactions in foreign currencies are recorded at the exchange rate prevailing on the date of transaction.
Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency
closing rates of exchange at the reporting date.
Exchange differences arising on settlement or translation of monetary items are recognised in Statement of
Profit and Loss.
Non-monetary items that are measured in terms of historical cost in a foreign currency are recorded using the
exchange rates at the date of the transaction.

q. Earnings Per Share:

Basic Earnings Per Share is computed by dividing the profit/(loss) after tax (including the post-tax effect of
extraordinary items, if any) by the weighted average number of equity shares outstanding during the year.
Diluted earnings per share is computed by dividing the profit/(loss) after tax (including the post-tax effect of
extraordinary items, if any) as adjusted for dividend, interest and other charges to expense or income (net of
any attributable taxes) relating to the dilutive potential equity shares, by the weighted average number of equity
shares considered for deriving basic earnings per share and the weighted average number of equity shares
which could have been issued on the conversion of all dilutive potential equity shares.
Potential equity shares are deemed to be dilutive only if their conversion to equity shares would decrease
the net profit per share from continuing ordinary operations. Potential dilutive equity shares are deemed to
be converted as at the beginning of the period, unless they have been issued at a later date. The number of
equity shares and potentially dilutive equity shares are adjusted for share splits/reverse share splits and bonus
shares, as appropriate.

r. Taxes on Income:
Current tax is the amount of tax payable on the taxable income for the year as determined in accordance with
the provisions of the Income Tax Act, 1961 (the “Income Tax Act”).
Deferred tax is recognised on timing differences, being the differences between the taxable income and the
accounting income that originate in one period and are capable of reversal in one or more subsequent periods.
Deferred tax is measured using the tax rates and the tax laws enacted or substantively enacted as at the
reporting date. Deferred tax assets are recognised for timing differences of items other than unabsorbed
depreciation and carry forward losses only to the extent that reasonable certainty exists that sufficient future
taxable income will be available against which these can be realised. However, if there are unabsorbed
depreciation and carry forward of losses, deferred tax assets are recognised only if there is virtual certainty that
there will be sufficient future taxable income available to realise the assets. Deferred tax assets and liabilities
are offset if such items relate to taxes on income levied by the same governing tax laws and the Company has
a legal enforceable right for such set off. Deferred tax assets are reviewed at each balance sheet date for their
realisability.

s. Provisions and Contingent Liabilities :

Provisions: A provision is recognised when the Company has a present obligation as a result of past event, it
is probable that an outflow of resources embodying economic benefits will be required to settle the obligation
and a reliable estimate can be made of the amount of the obligation. Provisions are not discounted to their
present value and are determined based on the best estimate required to settle the obligation at the reporting
date. These estimates are reviewed at each reporting date and adjusted to reflect the current best estimates.
Where the Company expects some or all of a provision to be reimbursed, for example under an insurance
contract, the reimbursement is recognised as a separate asset but only when the reimbursement is virtually
certain. The expense relating to any provision is presented in the Statement of Profit and Loss, net of any
reimbursement.
Contingent liabilities: A contingent liability is a possible obligation that arises from past events whose
existence will be confirmed by the occurrence or non-occurrence of one or more uncertain future events
beyond the control of the Company or a present obligation that is not recognised because it is not probable that
an outflow of resources will be required to settle the obligation. A contingent liability also arises in extremely
rare cases where there is a liability that cannot be recognised because it cannot be measured reliably. The
company does not recognize a contingent liability but discloses its existence in the financial statements.

42
NOTES ON ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2022 - (Contd.)

As at As at
No. of Par Value per No. of Par Value per
Particulars 31st March 2022 31st March 2021
Shares Share (`) Shares Share (`)
` Lakhs ` Lakhs
2. SHARE CAPITAL
AUTHORISED :
Equity Shares 600,000,000 0.10 600.00 600,000,000 0.10 600.00

ISSUED :
Opening Balance 308,153,074 0.10 308.15 308,153,074 0.10 308.15
Shares issued during the year 0 0.00 0 0.00
Closing Balance 308,153,074 0.10 308.15 308,153,074 0.10 308.15

SUBSCRIBED AND PAID UP :

Opening Balance 308,153,074 0.10 308.15 308,153,074 0.10 308.15
Shares subscribed and fully paid up
0 0.00 0 0.00
during the year
Closing Balance 308,153,074 0.10 308.15 308,153,074 0.10 308.15

Shares held by promoters at the end of the year

% Change during the year
S. No. Promoter Name No. of Shares % of total shares
Nil

List of shareholders holding more than 5% of the equity share capital (Par value per share is ` 0.10)

As at 31st March 2022 As at 31st March 2021

Shareholders Name No.of Face Total face No.of Face Total face
Shares % held value per value Shares % held value per value
held share (`) (` in lakhs) held share (`) (` in lakhs)
Trustees, India Cements Shareholders
92,540,210 30.03% 0.10 92.54 92,632,408 30.06% 0.10 92.63
Trust*
Sri Saradha Logistics Private Limited 21,241,593 6.89% 0.10 21.24 21,241,593 6.89% 0.10 21.24

Life Insurance Corporation of India; Life

Insurance Corporation of India P & GS 18,609,745 6.04% 0.10 18.61 18,609,745 6.04% 0.10 18.61
Fund; LICI Market Plus Growth Fund

* During the year, the India Cements Shareholders Trust distributed 92,198 shares of the Company to eligible non-promoter shareholders of
The India Cements Limited, on receipt of valid documents.

43
NOTES ON ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2022 - (Contd.)

As at As at
31st March 2022 31st March 2021
` Lakhs ` Lakhs
3. RESERVES AND SURPLUS
General Reserve
Opening Balance 975.00 975.00
Add: Transfer from Debenture Redemption Reserve 0.00 0.00
Closing Balance 975.00 975.00
Debenture Redemption Reserve
Opening Balance 650.00 650.00
Add : Addition during the year 0.00 0.00
Less : Transfer to General Reserve 0.00 0.00
Closing Balance 650.00 650.00
Surplus in Profit & Loss Account
Opening Balance 19,678.38 15,652.16
Profit during the year 3,212.49 4,026.22
(Transferred from Statement of Profit and Loss)
Total 22,890.87 19,678.38
Grand Total 24,515.87 21,303.38

4. LONG-TERM BORROWINGS
Unsecured - Others
Optionally Convertible Debentures - Refer below note * 0.00 6,500.00
Total 0.00 6,500.00
* Note - Terms of the Optionally Convertible Debentures : 650 - 8% Optionally Convertible Debentures (OCD) of the face
value of ` 10,00,000/- each issued on 23.01.2018. The OCDs shall mature and are due for redemption at par at the end of 60
months from the date of issue, with an option to convert into equity shares after expiry of 2 years from the issue date.

5. DEFERRED TAX LIABILITY (NET)

Deferred Tax Liability:
Arising on timing differences of Fixed Assets 0.00 121.07
Deferred Tax Asset:
Arising on disallowance under Section 43B 0.00 (3.50)
Total - Deferred Tax Liabilities (Net) 0.00 117.57

6. LONG-TERM PROVISIONS
Provision for Employee benefits 36.84 29.49
Total 36.84 29.49

44
NOTES ON ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2022 - (Contd.)

As at As at
31st March 2022 31st March 2021
` Lakhs ` Lakhs
7. SHORT-TERM BORROWINGS
Unsecured - Others
Optionally Convertible Debentures - Refer below note * 6,500.00 0.00
Total 6,500.00 0.00
* Note - Terms of the Optionally Convertible Debentures : 650 - 8% Optionally Convertible Debentures (OCD) of the face
value of ` 10,00,000/- each issued on 23.01.2018. The OCDs shall mature and are due for redemption at par at the end of 60
months from the date of issue, with an option to convert into equity shares after expiry of 2 years from the issue date.

8. TRADE PAYABLES
(i) Total outstanding dues to micro enterprises and small enterprises 0.00 9.47
(ii) Total outstanding dues to creditors other than micro enterprises and small
2,822.78 1,345.17
enterprises
Total 2,822.78 1,354.64

As at 31st March, 2022 ` Lakhs

Outstanding for following periods from due date of payment
Particulars Less than More than
1 - 2 Years 2 - 3 Years Total
1 Year 3 Years
(i) MSME 0.00 0.00 0.00 0.00 0.00
(ii) Others 2,822.78 0.00 0.00 0.00 2,822.78
(iii) Disputed dues - MSME 0.00 0.00 0.00 0.00 0.00
(iv) Disputed dues - Others 0.00 0.00 0.00 0.00 0.00

As at 31st March, 2021 ` Lakhs

Outstanding for following periods from due date of payment
Particulars Less than More than
1 - 2 Years 2 - 3 Years Total
1 Year 3 Years
(i) MSME 9.47 0.00 0.00 0.00 9.47
(ii) Others 1,345.17 0.00 0.00 0.00 1,345.17
(iii) Disputed dues - MSME 0.00 0.00 0.00 0.00 0.00
(iv) Disputed dues - Others 0.00 0.00 0.00 0.00 0.00

As at As at
31st March 2022 31st March 2021
` Lakhs ` Lakhs
9. OTHER CURRENT LIABILITIES
Advance from customers 3,943.48 1,851.62
Other Payables 853.12 105.37
Other Employees Payables 50.28 50.28
Total 4,846.88 2,007.27

45
NOTES ON ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2022 - (Contd.)

As at As at
31st March 2022 31st March 2021
` Lakhs ` Lakhs
10. SHORT-TERM PROVISIONS
Provision for Employee benefits 2.34 1.61
Total 2.34 1.61

11. PROPERTY, PLANT AND EQUIPMENT ` in Lakhs

GROSS BLOCK DEPRECIATION BLOCK NET BLOCK
Deprecia- Deprecia-
Balance Balance
PARTICULARS Deduc- Deduc- As at Depreci- Depreci- tion tion As at As at As at
as at Additions Additions as at
tions tions 31st Mar ation ation on Deduc- on Deduc- 31st Mar 31st Mar 31st Mar
1st April, 2020-21 2021-22 1 April,
st
2020-21 2021-22 2022 2020-21 2021-22 tions tions 2022 2022 2021
2020 2020
2020-21 2021-22
Tangible Assets:
Land 12,941.99 0.00 0.00 0.00 0.00 12,941.99 0.00 0.00 0.00 0.00 0.00 0.00 12,941.99 12,941.99
Buildings 1,189.72 0.00 0.00 0.00 1,189.72 0.00 10.97 18.80 18.80 0.00 48.57 0.00 0.00 1,159.95
Furniture & Fittings 0.00 0.54 0.00 0.00 0.00 0.54 0.00 0.00 0.05 0.00 0.00 0.05 0.49 0.54
Office Equipments and
11.73 7.97 0.00 0.00 0.00 19.70 2.40 5.04 2.32 0.00 0.00 9.76 9.94 12.26
computers
Vehicles 20.16 0.00 0.00 0.00 0.00 20.16 4.20 2.52 2.52 0.00 0.00 9.24 10.92 13.44
Total Tangible Assets 14,163.60 8.51 0.00 0.00 1,189.72 12,982.39 17.57 26.36 23.69 0.00 48.57 19.05 12,963.34 14,128.19
Intangible Assets:
Computer Software and
444.40 477.78 483.65 0.00 0.00 1,405.83 265.48 307.37 216.66 0.00 0.00 789.51 616.31 349.33
Licences
Total Intangible Assets 444.40 477.78 483.65 0.00 0.00 1,405.83 265.48 307.37 216.66 0.00 0.00 789.51 616.31 349.33
Total Tangible and
14,608.00 486.29 483.65 0.00 1,189.72 14,388.22 283.05 333.73 240.35 0.00 48.57 808.57 13,579.65 14,477.52
Intangible Assets

As at As at
31st March 2022 31st March 2021
` Lakhs ` Lakhs
12. NON CURRENT INVESTMENTS
Investments in equity instruments
Trade Investments (Unquoted)
Wholly owned subsidiary
Superking Ventures Private Limited 10.00 0.00
(1,00,000 Equity Shares of ` 10/- each fully paid)
Total 10.00 0.00

46
NOTES ON ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2022 - (Contd.)

As at As at
31st March 2022 31st March 2021
` Lakhs ` Lakhs
13. DEFERRED TAX ASSET (NET)
Arising on timing differences of Fixed Assets 54.26 0.00
Arising on disallowance under Section 43B 9.86 0.00
Total 64.12 0.00

LONG-TERM LOANS AND ADVANCES:

14. CAPITAL ADVANCES

Unsecured, considered good 1,144.78 604.53
Total 1,144.78 604.53

15. OTHER LONG-TERM LOANS AND ADVANCES

Unsecured, considered good:
i) Advance Income Tax and TDS Receivables (Net of Provision) 3,492.12 1,608.53
ii) Rental Advance 14.73 3.98
Total 3,506.85 1,612.51

16. TRADE RECEIVABLES

Outstanding for a period of more than six months - Sundry Debtors, considered good
0.00 354.00
- Unsecured
Outstanding for a period of less than six months - Sundry Debtors, considered good -
3,740.58 1,837.88
Unsecured
Total 3,740.58 2,191.88

As at 31st March 2022 ` Lakhs

Outstanding for following periods from due date of payment
Particulars
Less than 6 Months - More than
1 - 2 Years 2 - 3 Years Total
6 Months 1 Year 3 Years
(i) Undisputed Trade receivables -
3,740.58 0.00 0.00 0.00 0.00 3,740.58
considered good
(ii) Undisputed Trade receivables -
0.00 0.00 0.00 0.00 0.00 0.00
considered doubtful
(iii) Disputed Trade receivables - considered
0.00 0.00 0.00 0.00 0.00 0.00
good
(iv) Disputed Trade receivables - considered
0.00 0.00 0.00 0.00 0.00 0.00
doubtful

47
NOTES ON ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2022 - (Contd.)

As at 31st March 2021 ` Lakhs

Outstanding for following periods from due date of payment
Particulars
Less than 6 Months - More than
1 - 2 Years 2 - 3 Years Total
6 Months 1 Year 3 Years
(i) Undisputed Trade receivables -
1,837.88 354.00 0.00 0.00 0.00 2,191.88
considered good
(ii) Undisputed Trade receivables -
0.00 0.00 0.00 0.00 0.00 0.00
considered doubtful
(iii) Disputed Trade receivables - considered
0.00 0.00 0.00 0.00 0.00 0.00
good
(iv) Disputed Trade receivables - considered
0.00 0.00 0.00 0.00 0.00 0.00
doubtful

As at As at
31st March 2022 31st March 2021
` Lakhs ` Lakhs
17. CASH AND CASH EQUIVALENTS
Balances with banks
a. Current Account 13,534.89 3,639.50
b. Fixed Deposits 0.00 8,540.00
Cash on hand 0.01 0.01
Total 13,534.90 12,179.51

18. SHORT-TERM LOANS AND ADVANCES

Unsecured
(a) Advance to Contractors / Service providers 538.87 3.49
(b) Advance to Staff 9.44 4.00
(c) Other Loans and Advances 340.79 0.00
Total 889.10 7.49

19. OTHER CURRENT ASSETS

(a) Accured Interest on Fixed Deposits 0.00 18.86
(b) Prepaid Expenses 2,562.88 529.81
Total 2,562.88 548.67

48
NOTES ON ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2022 - (Contd.)

For the For the

FY 2021-22 FY 2020-21
` Lakhs ` Lakhs
20. REVENUE FROM OPERATIONS
Income from Grant of Central Rights 24,227.52 18,500.00
Sponsorship Income 6,502.72 5,962.94
Other Tournament Related Income 3,374.87 320.46
Total 34,105.11 24,783.40

21. OTHER INCOME

Interest - Others 727.48 519.21
Interest on Fixed Deposits with Bank 81.67 67.25
Total 809.15 586.46

22. COST OF OPERATIONS

Team Players and Staff Remuneration 14,822.54 9,633.58
Franchisee Fee 6,156.58 4,900.00
Tournament Expenditure 4,371.22 1,240.26
Administration Expenses 2,067.08 1,613.74
Insurance 196.38 148.84
Rent - Office 18.49 5.78
Rent - Ground 137.02 107.50
Rates & Taxes 16.25 11.01
Printing & Stationary 0.15 0.35
Postage & Telephone 6.81 3.80
Advertisement/Sponsorship related expenses 367.19 276.78
Total 28,159.71 17,941.64

23. EMPLOYEE BENEFITS EXPENSE

Salary & Wages 198.81 125.31
Contribution to Provident Fund 3.94 3.78
Staff welfare Expenditure & Other benefits 2.40 6.87
Other Employee benefits 8.09 13.93
Managerial Remuneration to Wholetime Director & CEO:
Salary 105.06 97.88
Total 318.30 247.77

49
NOTES ON ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2022 - (Contd.)

For the For the

FY 2021-22 FY 2020-21
` Lakhs ` Lakhs
24. FINANCE COST
Interest Expenses 567.65 526.34
Total 567.65 526.34

25. OTHER EXPENSES

Loss on Foreign exchange 0.00 0.09
Bank Charges 14.47 3.46
Other Administrative Expenses 120.98 173.23
Audit Expenses (Refer Note No. 33)
- Audit Fees 10.00 10.00
- Certification and Others 5.66 0.75
Donations* 202.80 213.00
Loss on Assets discarded 1,141.15 0.00
Total 1,495.06 400.53
* Donations (Including CSR)
Other Donations 0.00 50.00
Other CSR Expenditure 202.80 163.00
Total 202.80 213.00
CSR Expenses required to be spent as per Section 135 of the Companies Act, 2013 202.22 162.04
Other CSR Expenditure 202.80 163.00
Total 202.80 163.00

31st March 2022 31st March 2021

Face Value - Face Value -
26. EARNINGS PER SHARE (EPS)
` 0.10 per share ` 0.10 per share
Basic
Profit / (Loss) for the Year (` In lakhs) 3,212.49 4,026.22
No. of Equity Shares - (Nos.) 308,153,074 308,153,074
Earnings Per Equity Share (`) 1.04 1.31

Diluted
Profit / (Loss) for the Year (` In lakhs) 3,601.61 4,420.08
No. of Equity Shares - (Nos.) 379,425,004 379,425,004
Earnings Per Equity Share (`) 0.95 1.16

50
NOTES ON ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2022 - (Contd.)
27. IPL Season - XIV:
The IPL Season XIV started as usual in April 2021. The tournament was held only in 4 centres and our team played all its
matches in Mumbai and New Delhi. The tournament had to be stopped midway due to the significant spread of Covid 19
in India. All the teams had played about 7 matches each when the tournament was suspended. Thereafter the tournament
was continued in United Arab Emirates (UAE) and we are glad to inform the shareholders that our team won the IPL
Trophy for the 4th time.
The expenses for the year under review have been higher consequent to the tournament being held in 2 stages and with
the second stage being held overseas. The revenue was also higher due to the team winning the title.

28. Capital Commitments:

For the For the
Particulars FY 2021-22 FY 2020-21
` Lakhs ` Lakhs
Estimated amounts of contracts for Capital Expenditure and Commitments (Net of
7,933.25 6,900.00
Advances)

29. Contingent Liabilities:

Monies for which the Company is contingently liable:
For the For the
Unpaid demands under dispute FY 2021-22 FY 2020-21
` Lakhs ` Lakhs
Service Tax pertaining to FY 2015-2017 678.29 678.29
Show cause notice received in respect of which the Company obtained the stay
from Hon’ble High Court of Madras

30. Effective Tax Rate:

March 31, 2022 March 31, 2021
Particulars
% ` in Lakhs % ` in Lakhs
Profit Before tax 4,133 5,920
Tax using the Company's domestic rate 25.17% 1,040 25.17% 1,490
Tax Effect of timing and permanent differences (2.89%) (120) 6.80% 403
Effective tax rate 22.28% 921 31.97% 1,893
Tax expenses as per Books 921 1,893

31. Expenditure in Foreign currency:

For the For the
Particulars FY 2021-22 FY 2020-21
` Lakhs ` Lakhs
Foreign exchange used 7,136.02 * 3,712.21
Foreign exchange earned 23.61 58.26
* The expenditure in foreign currency has increased since the tournament had been cancelled and the second leg has
taken place in UAE.

51
NOTES ON ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2022 - (Contd.)
32. As at Balance Sheet date, amounts aggregating to ` NIL (Previous Year ` 9.47 Lakhs) were due to Micro, Small and
Medium Enterprises as per the provisions of the Micro, Small and Medium Enterprises Development Act, 2006:
For the For the
Particulars FY 2021-22 FY 2020-21
` Lakhs ` Lakhs
(a) The principal amount remaining unpaid to any supplier at the end of each Nil 9.47
accounting year;
(b) The interest payable thereon on (a) Nil Nil
(c) The amount of interest paid by the buyer along with the amount of the payment Nil Nil
made to the supplier beyond the due date (as per PO or 45 days whichever is
earlier) during each accounting year;
(d) The amount of interest due and payable for the period of delay in making Nil Nil
payment (which has been paid but beyond the appointed day during the year)
but without adding the interest specified under the Micro, Small and Medium
Enterprises Development Act, 2006;
(e) The amount of interest accrued and remaining unpaid at the end of each Nil Nil
accounting year;

33. Payment to Auditors:

For the For the
Particulars FY 2021-22 FY 2020-21
` Lakhs ` Lakhs
Audit Fee 10.00 10.00
Audit certifications and other expenses 5.66 0.75
Total 15.66 10.75

34. CSR Initiatives of the Company:

During the Financial year the Company has spent ` 202.80 Lakhs towards CSR Initiatives. The details are given below:
` Lakhs
Corporate Social Responsibility (CSR)
The company is covered under section 135 of the Companies Act, the 31st March, 2022 31st March, 2021
following is disclosure is made with regard to CSR activities:-
(i) Amount required to be spent by the company during the year. 202.22 162.04
(ii) Amount of expenditure incurred. 202.80 163.00
(iii) Shortfall at the end of the year. Nil Nil
(iv) Total of previous years shortfall. Nil Nil
(v) Reason for shortfall. NA NA
(vi) Nature of CSR activities. Promotion of Education / Promoting Healthcare and
Promoting Healthcare and Disaster Management
Disaster Management
(vii) Details of related party transactions, e.g., contribution to a trust
controlled by the company in relation to CSR expenditure as per NA NA
relevant Accounting Standard.
(viii) Where a provision is made with respect to a liability incurred by
entering into a contractual obligation, the movements in the provision NA NA
during the year shall be shown separately.

52
NOTES ON ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2022 - (Contd.)
35. Related Party Disclosures:
Name of the related party and the nature of the relationship:

Name Nature of Relationship

Superking Ventures Private Limited (Refer Note No.37) Wholly Owned Subsidiary
Sri K.S. Viswanathan Wholetime Director (WTD) and Chief Executive Officer (CEO)

Transactions during the year:

For the For the

Particulars FY 2021-22 FY 2020-21
` in Lakhs ` in Lakhs
Transaction with wholly-owned Subsidiary
Investment in Equity Shares 10.00 0.00
Loans Provided (Advance to contractors paid on behalf of Subsidiary) 190.79 0.00
Transaction with WTD and CEO
Remuneration to WTD and CEO 105.06 97.88

36. Employee Benefits:

The details of parameters adopted for valuation of post-employment benefit plans and leave benefits, as per Accounting
Standard 15 issued by ICAI, are as under:
(a) Gratuity:
The employees are eligible for Gratuity benefits as per the Payment of Gratuity Act, 1972. The amount of Contribution
to be made is arrived at based on an actuarial valuation done at the Balance Sheet date, as given below, and is
accounted accordingly.
For the For the
Particulars FY 2021-22 FY 2020-21
` Lakhs ` Lakhs
Change in present value of Defined Benefit Obligation
Opening defined benefit obligation 14.78 4.27
Interest cost 1.02 0.24
Current service cost 4.97 0.84
Benefits paid 0.00 (1.11)
Past Service Cost 0.00 0.00
Actuarial (gains)/losses on obligation (0.37) 10.54
Closing defined benefit obligation 20.40 14.78
Expenses recognized in statement of Profit and Loss
Current Service Cost 4.97 0.84
Interest cost on benefit obligation 1.03 0.24
Expected return on plan assets 0.00 0.00
Past Service Cost 0.00 0.00
Net actuarial (gain)/Loss recognized in the year (0.37) 10.54

53
NOTES ON ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2022 - (Contd.)

For the For the

Particulars FY 2021-22 FY 2020-21
` Lakhs ` Lakhs
Net Benefit expense 5.63 11.63
Assumptions
Discount Rate 6.79% 6.94%
Salary Escalation 3% 3%
Attrition Rate 0% 0%
IALM IALM
Mortality
(2006-08) (2006-08)

(b) Leave Encashment:

The Company has leave plans including paid leave of absence plans and encashment of leave plans for employees
at different grades and provision has been made in accordance with Accounting Standard 15.
For the For the
Particulars FY 2021-22 FY 2020-21
` Lakhs ` Lakhs
Change in present value of Defined Benefit Obligation
Opening defined benefit obligation 16.30 14.71
Interest cost 1.06 0.92
Current services cost 0.00 0.00
Benefits paid 0.00 (0.70)
Past Service Cost 0.00 0.00
Actuarial (gains)/losses on obligation 1.40 1.37
Closing defined benefit obligation 18.76 16.30
Expenses recognized in Statement of Profit and Loss
Current Service Cost 0.00 0.00
Interest cost on benefit obligation 1.06 0.92
Expected return on plan assets 0.00 0.00
Past Service Cost 0.00 0.00
Net actuarial (gain)/Loss recognized in the year 1.40 1.37
Net Benefit expense 2.46 2.29
Assumptions
Discount Rate 6.5% 6.5%
Salary Escalation 3% 3%
Attrition Rate 0% 0%
IALM IALM
Mortality
(2006-08) (2006-08)

37. During the year, a wholly owned subsidiary Superking Ventures Private Limited (SVPL) was incorporated on
15-02-2022. SVPL has not commenced its operations duing the financial year.

54
NOTES ON ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2022 - (Contd.)
38. Details of Benami property held:
No proceedings have been initiated on or are pending against the Company for holding benami property under the Benami
Transactions (Prohibition) Act, 1988 (45 of 1988) and Rules made thereunder.

39. Borrowing secured against current assets:

The Company does not have borrowings from banks and financial institutions on the basis of security of current assets.

40. Wilful defaulter:

The company has not been declared Wilful defaulter by any bank or financial institution or government or any government
authority.

41. Relationship with struck off companies:

The Company does not have transactions with the companies struck off under the Companies Act, 2013 or the Companies
Act, 1956.

42. Registration of charges:

The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory
period.

43. Compliance with number of layers of companies:

The Company has complied with the number of layers prescribed under the Companies Act, 2013.

44. Compliance with approved scheme(s) of arrangements:

The company has not entered into any scheme of arrangement which has an accounting impact on current or previous
financial year.

45. Utilization of borrowed funds and share premium:

The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities
(Intermediaries) with the understanding that the Intermediary shall directly or indirectly lend or invest in other persons or
entities identified in any manner whatsoever by or on behalf of the group (Ultimate Beneficiaries) or provide any guarantee,
security or the like to or on behalf of the ultimate beneficiaries.
The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with
the understanding (whether recorded in writing or otherwise) that the group shall directly or indirectly lend or invest in other
persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or
provide any guarantee, security or the like on behalf of the ultimate beneficiaries.

46. Undisclosed income:

There is no income surrendered or disclosed as income during the current or previous financial year in the tax assessments
under the Income Tax Act, 1961, that has not been recorded in the books of accounts.

47. Details of crypto currency or virtual currency:

The Company has not traded or invested in crypto currency or virtual currency during the current or previous year.

48. Valuation of PP&E, intangible asset and investment property:

The Company has not revalued its property (including right-of-use assets) or intangible assets or both during the current
or previous financial year.

55
NOTES ON ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2022 - (Contd.)
49. Ratio Analysis and its elements as required by Schedule III of the Companies Act, 2013:
31st 31st
Times / %
Ratio Numerator Denominator March March Reason for variance
Percentage Change
2022 2021
Current ratio In Times Current Assets Current Liabilities 1.46 4.44 (67) The Optionally Convertible
Debentures is maturing in
the next twelve months.
Debt- Equity Ratio In Times Total Debt Shareholder’s 0.25 0.30 (15) -
Equity
Debt Service In Times Earnings for debt Debt service NA NA NA -
Coverage ratio service = Net profit = Interest &
after taxes + Non- Lease Payments
cash operating + Principal
expenses + Interest Repayments
Return on Equity Percentage Net Profits after Average 17% 21% (19) -
ratio taxes – Preference Shareholder’s
Dividend Equity
Inventory Turnover In Times Cost of goods sold Average Inventory NA NA - -
ratio
Trade Receivable In Times Net credit sales = Average Trade 11.77 19.90 (41) Due to increase in NCR,
Turnover Ratio Gross credit sales - Receivable the debtors has been
sales return increased during the year.
Trade Payable In Times Net credit Average Trade 13.67 14.43 (5) -
Turnover Ratio purchases = Gross Payables
credit purchases -
purchase return
Net Capital In Times Net sales = Total Working capital = 5.33 2.19 143 The Optionally Convertible
Turnover Ratio sales - sales return Current assets – Debentures is maturing in
Current liabilities the next twelve months.
Net Profit ratio Percentage Net Profit Net sales = Total 11% 16% (30) Due to the impact of Covid,
sales - sales return IPL 2021 season was
rescheduled midway from
India to the UAE resulting
in increased cost.
Return on Capital Percentage Earnings before Capital Employed 15% 23% (34) Due to the impact of Covid,
Employed interest and taxes = Tangible Net IPL 2021 season was
Worth + Total Debt rescheduled midway from
+ Deferred Tax India to the UAE resulting
Liability in increased cost.
Return on Percentage Income Generated Time weighted NA NA - -
Investment from Investments average
Investments

50. Previous Year figures have been re-grouped/reclassified wherever necessary.

As per our report of even date For and on behalf of Board of Directors
for BRAHMAYYA & CO.
Chartered Accountants
R. SRINIVASAN K.S. VISWANATHAN
Firm Regn No : 000511S
Chairman Wholetime Director & CEO
N Sri Krishna DIN: 00207398 DIN : 06965671
Partner
Membership No: 026575
RAKESH SINGH E. JAYASHREE
Place: Chennai Director Director
Date: 10.08.2022 DIN: 07563110 DIN: 07561385

56