1) The accounting practices followed by the Company are consistent and
 in consonance with the Indian Generally Accepted Accounting Principles.
 The financial statements prepared are by and large are in accordance
 with the Accounting Standards referred to in the Sec 211(3) (c) of the
 Companies Act, 1956.
 
 2) FIXED ASSETS: -
 
 (i)The fixed Assets are stated either at their cost or in certain cases
 as at their revalued amount determined in the year 1993.