I.  Accounting Conversion
 
 The Financial statements are prepared under the historical cost
 conversion, on accrual basis of accounting in accordance with the
 Companies Act, 1956 and in accordance with generally accepted
 accounting principles (IndiaGAAP) are in compliance with the Accouting
 Standards issued by the Institute of Chartered Accountants of India
 (ICAI).
 
 II.  Fixed Assets & Depreciation:
 
 Fixed Assets are stated at original cost(including pre-opeartive
 expenses) less accumulated depreciation.  Depreciation in respect of
 all assets is provided on straight-line basis at the rates prescribed
 under Schedule XIVof the Companies Act,1956. Depreciation on assets
 added during the year has been provided on pro-rata basis with
 reference to the date of addition/asset put to use. No depreciation has
 been provided on the fixed assets, which have not been used and sold
 during the year.
 
 III.  Inventories :
 
 Inventories are valued at cost.
 
 IV.  Investments :
 
 Investments are unquoted and stated at cost.Income from investments is
 accounted for when received.The decline in the value of the unquoted
 investment other than temporary is provided whenever necessary.
 
 V.  Revenue :
 
 Domestic Sales is Exclusive of Excise duty & Vat.