a. Accounting Convention:
The accounts have been prepared under the historical cost convention
based on the principle of going concern and are consistent with the
generally accepted Accounting Principles, unless otherwise stated.
b. Fixed assets and Depreciation thereon:
Fixed assets are stated at original cost less depreciation including
other expenses relating to acquisition and installation.
Depreciation on fixed assets have been provided for the year on
straight line method as per the depreciation rates specified in
Schedule XIV of the Companies Act, 1956
c. Retirement benefits in respect of gratuity, superannuation and
leave encashment are accounted on accrual basis.