Cable TV
MSO MD, director behind bars for not paying service tax
KOLKATA: Two officials of a Kolkata-based multi service operator (MSO) Kolkata Cable & Broadband Pariseva Ltd were arrested today, as the firm had not paid service tax to the tune of Rs 5.52 crore to the government exchequer.
The arrest of the two officials of Kolkata Cable & Broadband Pariseva Ltd came close on the heels of Union Finance Minister P Chidambaram’s visit to the city two days ago.
Talking tough, Chidambaram on Tuesday warned the business community here that the government would use provisions of arrests and prosecutions against ‘chronic’ service tax evaders.
KK Jaiswal, service tax commissioner of Kolkata, on Thursday said two persons, namely Bijoy Kumar Agarwal, managing director, and Prasun Kumar Das, director of Kolkata Cable & Broadband Pariseva Ltd, were arrested.
“The firm, engaged in providing service as an MSO, is collecting service charges regularly. Investigation revealed that they have collected service tax around Rs 5.52 crore, but have not deposited the same to the government. This is a cognizable offence and punishable upto seven years of imprisonment. Both the persons have been produced before the Alipore Court,” Jaiswal addressed at a media interaction.
He said the amount of tax was due for the period of 2008-09 to 2012-13.
“Steps are being taken to recover the amount,” Jaiswal added.
Earlier, Chidambaram said the government had arrested 13 people across the country in connection of tax evasions.
MUMBAI: When margins wobble, liquidity talks and in Q3 FY25-26, cash did most of the talking. Den Networks Limited closed the December quarter with consolidated revenue of Rs.251 crore, marginally higher than the previous quarter but down 4 per cent year-on-year, even as profitability stayed resilient on the back of strong cash reserves and disciplined cost control.
Subscription income softened to Rs.98 crore, slipping 3 per cent sequentially and 14 per cent from last year, while placement and marketing income offered some cheer, rising 15 per cent quarter-on-quarter to Rs.148 crore. Total costs climbed faster than revenue, up 7 per cent QoQ to Rs.238 crore, driven largely by higher content costs and operating expenses. As a result, EBITDA dropped sharply to Rs.13 crore from Rs.19 crore in Q2 and Rs.28 crore a year ago, pulling margins down to 5 per cent.
Yet, the bottom line refused to blink. Profit after tax stood at Rs.40 crore, up 15 per cent sequentially and only marginally lower than last year’s Rs.42 crore. A healthy Rs.57 crore in other income helped cushion operating pressure, keeping profit before tax at Rs.48 crore, broadly stable quarter-on-quarter despite the tougher cost environment.
The real headline-grabber, however, sits on the balance sheet. The company remains debt-free, with cash and cash equivalents swelling to Rs.3,279 crore as of December 31, 2025. Net worth rose to Rs.3,748 crore, while online collections accounted for 97 per cent of total receipts, underscoring strong cash discipline across operations, including subsidiaries.
In short, while Q3 showed signs of operating strain, the financial backbone remains solid. With zero gross debt, steady profits and a formidable cash war chest, the company enters the next quarter with flexibility firmly on its side proving that in uncertain markets, balance sheet strength can be the best growth strategy.
