a.  Change in Accounting Policy Presentation and Disclosure of
 Financial Statements
 
 During the year ended the 31st March 2012, the revised Schedule VI
 notified under the Companies Act 1956, has become applicable to the
 Company, for preparation and presentation of its financial statements.
 The adoption of revised Schedule VI does not impact recognition and
 measurement principles followed for preparation of these financial
 statements. However, it has significant impact on presentation and
 disclosures made in the financial statements. The Company has also
 reclassified the previous year figures in accordance with the
 requirements applicable in the current year.
 
 b.  Use of Estimates
 
 The preparation of financial statements in conformity with generally
 accepted accounting principles requires management to make estimates
 and assumptions that affect the reported amounts of assets and
 liabilities and disclosure of contingent liabilities at the date of the
 financial statements and the results of operations during the reporting
 period. Although these estimates are based upon management''s best
 knowledge of current events and actions, actual results could differ
 from these estimates. Difference between the actual results and
 estimates are recognized in the period in which the results are known /
 materialized.
 
 c.  Revenue Recognition
 
 Income is accounted for on accrual basis in accordance with Accounting
 Standard (AS) 9 - Revenue Recognition.
 
 a) Interest
 
 Revenue is recognized on a time proportion basis taking into account
 the amount outstanding and the applicable interest rate.
 
 b) Dividend
 
 Dividend income on investments is accounted for when the right to
 receive the dividend is established.
 
 d.  Investments
 
 Long term investments are stated at cost. Provision for diminution in
 the value of long-term investments is made only if such a decline is
 other than temporary in the opinion of the management.
 
 e.  Tangible Fixed Assets
 
 Tangible fixed assets are stated at historical cost less provision for
 impairment losses, if any and depreciation.
 
 f.  Depreciation on Tangible Fixed Assets
 
 Depreciation on tangible fixed assets is calculated on a straight-line
 basis using the rates arrived at based on the useful lives estimated by
 the management, or those prescribed under the Schedule XIV to the
 Companies Act, 1956, whichever is higher. The Company has used the
 following rates / useful life to provide depreciation on its fixed
 assets.
 
 i) Computer hardware systems are depreciated uniformly over a useful
 life of 3 years.
 
 ii) Assets costing up to Rs. 5,000 are fully depreciated in the year of
 purchase.
 
 g.  Impairment of Assets
 
 Assets are reviewed for impairment whenever events or changes in
 circumstances indicate that the carrying amount may not be recoverable.
 An impairment loss is recognized for the amount by which the asset''s
 carrying amount exceeds its recoverable amount being the higher of the
 asset''s net selling price and its value in use. Value in use is based
 on the present value of the estimated future cash flows relating to the
 asset. For the purposes of assessing impairment, assets are grouped at
 the lowest levels for which there are separately identifiable cash
 flows (i.e. cash generating units).
 
 After impairment, depreciation is provided on the revised carrying
 amount of the asset over its remaining useful life.
 
 Previously recognized impairment losses are reversed where the
 recoverable amount increases because of a favorable change in the
 estimates used to determine the recoverable amount since the last
 impairment was recognized. A reversal of an asset''s impairment loss
 is limited to its carrying amount that would have been determined (net
 of depreciation or amortization), had no impairment loss been
 recognized in prior years.
 
 h.  Tax on Income
 
 i) Current corporate tax is provided on the results for the year after
 considering applicable tax rates and laws.
 
 ii) Deferred tax is provided on timing differences between tax and
 accounting treatments that originate in one period and are expected to
 be reversed or settled in subsequent periods. Deferred tax assets and
 liabilities are measured using the enacted / substantively enacted tax
 rates and laws for continuing operations.
 
 Deferred tax assets in the event of unabsorbed depreciation and carry
 forward losses under tax laws, that exceed the deferred tax liability,
 are recognized only where there is virtual certainty of realization.
 
 Deferred tax assets on other accounts are recognized only to the extent
 there is reasonable certainty of realization.
 
 The carrying amount of deferred tax assets is reviewed at each balance
 sheet date to reassess realization.
 
 iii) MAT credit is recognized as an asset only when and to the extent
 there is convincing evidence that the Company will pay normal income
 tax during the specified period. In the year in which the Minimum
 Alternative Tax (MAT) credit becomes eligible to be recognized as an
 asset in accordance with the recommendations contained in Guidance Note
 issued by the Institute of Chartered Accountants of India, the said
 asset is created by way of a credit to the Statement of Profit and Loss
 and shown as MAT Credit Entitlement. The Company reviews the same at
 each Balance Sheet date and writes down the carrying amount of MAT
 Credit Entitlement to the extent there is no longer convincing evidence
 to the effect that the Company will pay normal Income Tax during the
 specified period.
 
 i.  Provisions and Contingent Liabilities
 
 Provisions are recognized for present obligations, of uncertain timing
 or amount, arising as a result of a past event where a reliable
 estimate can be made and it is probable that an outflow of resources
 embodying economic benefits will be required to settle the obligation.
 Where it is not probable that an outflow of resources embodying
 economic benefits will be required or the amount cannot be estimated
 reliably, the obligation is disclosed as a contingent liability unless
 the possibility of outflow of resources embodying economic benefits is
 remote.
 
 Possible obligations, whose existence will only be confirmed by the
 occurrence or non-occurrence of one or more uncertain future events,
 are also disclosed as contingent liabilities unless the possibility of
 outflow of resources embodying economic benefits is remote.
 
 j. Earnings Per Share
 
 Basic earnings per share is computed by dividing the net profit after
 tax for the period attributable to equity shareholders (after deducting
 preference dividends and attributable taxes) by the weighted average
 number of equity shares outstanding during the period. The weighted
 average number of equity shares outstanding during the period is
 adjusted for events such as bonus issue, bonus element in a rights
 
 issue, share split and reverse share split (consolidation of shares)
 that have changed the number of equity shares outstanding, without a
 corresponding change in resources.
 
 For the purpose of calculating diluted earnings per share, the net
 profit or loss for the period attributable to equity shareholders and
 the weighted average number of shares outstanding during the period are
 adjusted for the effects of all dilutive potential equity shares.
 
 k. Cash and Cash Equivalents
 
 Cash and cash equivalents comprise cash and cash on deposit with banks
 and corporations. The Company considers all highly liquid investments
 with a maturity at the date of purchase of three months or less and
 that are readily convertible to known amounts of cash to be cash
 equivalents.