1. Valuation :
i. Fixed Assets - At Cost less Accumulated Depreciation
ii. Investments - At Cost
2. Physical Verification
Fixed Assets are physically verified by the management in such a manner
that all assets are verified at least once in every year.
i. Leased Assets are depreciated by the method derived from the guidance note issued by The Institute of
Chartered Accountants of India under which 100% of the cost of the assets is depreciated over the primary
ii. Depreciation on other assets is provided on straight line method as
per Schedule XIV of the Companies Act, 1956.
4. Revenue Recognition
i. Income from leasing is taken into account on the date instalment of
lease rental falls due.
ii. Dividend income is accounted for on receipt basis.
iii. In respect of other heads of income, the company follows the practice of accounting such income on
5. Expenses :
Expenses are accounted for on accrual basis.
6. Inventories :
Inventories i.e. Stock-in-Trade consist of shares which are valued at
cost or market price whichever is lower.