1.  Basis of Accounting :
 
 The Financial statements are prepared under the historical cost
 convention on accrual basis of accounting. These are presented in
 accordance with the Generally Accepted Accounting Principles as
 acceptable in India, provisions of the Companies Act, 1956, Accounting
 Standards notified by the Central Government under the Companies
 (Accounting Standards) Rules, 2006 and the guidelines issued by the
 Reserve Bank of India, wherever applicable.
 
 2.  Use of Estimates :
 
 The Preparation of the financial statements in conformity with the
 accounting standards generally accepted in India requires, the
 management to make estimates and assumptions that affect the reported
 amount of assets and liabilities, disclosure of contingent liabilities
 as at the date of the financial statement and reported amounts of
 revenues and expenses for the year. Management believes that the
 estimates used in the preparation of the financial statement are
 prudent and reasonable. Actual results could differ from these
 estimates.
 
 3.  Revenue Recognition :
 
 a) Revenue from sale of goods is recognized when the substantial risk
 and reward of ownership are transferred to the buyer.
 
 b) Transactions in respect of dealing in securities are recognized on
 trade dates.
 
 c) Fees based income is accounted based on the stage of completion of
 assignment, when there is reasonable certainty of its ultimate
 realization/collection.
 
 d) Interest Income from financing activities and others is recognized
 on and accrual basis except in the case of non-performing assets where
 it is recognized, upon realization, as per Prudential Norms of Reserve
 Bank of India.
 
 e) Dividend Income is recognized when the Company''s right to receive
 dividend is established.
 
 f) All other Incomes are accounted for on accrual basis.
 
 4.  Fixed Assets :
 
 Fixed Assets are stated at cost, less accumulated depreciation thereon.
 Cost comprises of purchase price, duties, taxes and incidental expenses
 related to the acquisition of the assets.
 
 5.  Depreciation on Fixed Assets :
 
 Depreciation on tangible fixed assets is provided on Straight Line
 Method (S.L.M) at the rates specified in the Schedule XIV of the
 Companies Act, 1956. Depreciation on addition to the fixed assets is
 provided on pro-rata basis from the date the asset is available for
 use. Depreciation on sale / deduction from fixed asset is provided for,
 to the date of sale / deduction, as the case may be.
 
 6.  Impairment of Fixed Assets :
 
 An asset is treated as impaired when carrying cost of asset exceeds
 it''s recoverable amount. An impairment loss is charged to the profit &
 loss account in the year in which an asset is identified as impaired.
 The impairment loss recognized in prior accounting period, if any, is
 reversed if there has been a change in the estimate of the recoverable
 amount.
 
 7.  Shares, Commodities Futures / Equity Index :
 
 Initial margin and margin paid over and above initial margin, for
 entering into a contract for stock futures / equity index which are
 released on final settlement / squaring up of the underlying contract,
 are disclosed under Loans & Advances.
 
 Stock futures / equity index are marked-to-market on a daily basis.
 Debit or Credit Balance, representing the net amount paid or received
 on the basis of movement in the price of stock futures / equity index
 till the balance sheet date, are disclosed under Receivables or Current
 Liabilities, respectively.
 
 Profit / Loss on open position in stock futures / equity index as on
 the balance sheet date is accounted for as follows:
 
 Credit balance in the Mark-to-Market margin, being the anticipated
 profit is ignored and no credit for the same is taken in the Profit and
 Loss Account.  Debit balance in the Mark-to-Market, being the
 anticipated loss is adjusted in the Profit and Loss Account.
 
 8.  Inventories :
 
 Inventories of Commodities are stated at lower of cost or net
 realizable value. Cost comprises of cost of purchase and other costs
 incurred in bringing the inventories to their respective present
 location and condition.
 
 Inventories of Shares and Securities are valued script wise at lower of
 cost or net realizable value.
 
 Cost is determined on FIFO basis.
 
 9.  Investments :
 
 Long Term Investments are stated at cost. Provision for diminution in
 value, other than temporary, is considered wherever necessary on
 individual basis.
 
 10.  Prior Period & Extra Ordinary Items :
 
 Prior Period & Extra Ordinary items having material impact on the
 financial affairs of the company are disclosed separately.
 
 11.    Earnings per Share :
 
 Basic Earnings per Share is calculated by dividing the net profit or
 loss for the period attributable to equity shareholders by the weighted
 average number of equity shares outstanding during the period.
 
 Diluted Earnings per Share is calculated by adjustment of all the
 effects of dilutive potential equity shares from the net profit or loss
 for the period attributed to equity shareholders and the weighted
 average numbers of shares outstanding during the period.
 
 12.  Taxation :
 
 Tax expenses comprises of current and deferred tax. Current tax is
 determined as the amount of tax payable in respect of taxable income
 for the period under the provisions of the Income Tax Act 1961.
 
 Deferred tax is recognized, subject to the consideration of prudence,
 on timing differences, being the difference between taxable incomes and
 accounting income that originate in one period and are capable of
 reversible in one or more subsequent periods. Deferred tax assets are
 recognized and carried forward only to the extent there is reasonable
 certainty that sufficient future taxable income will be available
 against which such deferred tax asset item will be realized. If the
 company has carry forward unabsorbed depreciation and tax losses,
 deferred tax assets are recognized only to the extent there is virtual
 certainty supported by convincing evidence that sufficient taxable
 income will be available against which such deferred tax assets can be
 realized.
 
 13.  Retirement Benefits :
 
 a) Defined Contribution Plans :
 
 Company''s contribution towards Provident Fund, which is a defined
 contribution scheme, are charged to the Profit and Loss Account of the
 year when the contributions are due. There are no other obligations
 other than the contribution payable to the respective fund.
 
 b) Defined Benefit Plans :
 
 Gratuity liabilities are provided for based on actuarial valuation made
 at the end of each financial year using the projected unit credit
 method. Actuarial gains and losses are recognized immediately in the
 statement of Profit & Loss Account as income or expenses. Compensated
 leave is encashed during the year.
 
 14.  Provisions, Contingent Liabilities and Contingent Assets :
 
 A provision is recognized when the company has present legal or
 constructive obligation, as a result of past events, for which it is
 probable that an outflow of economic benefits will be required to
 settle the obligation and reliable estimate can be made for the amount
 of the obligation. Contingent liabilities are not recognized but
 disclosed by way of notes to the accounts. Contingent assets are
 neither recognized nor disclosed in the financial statements.