(a) system of Accounting:
 
 The financial statements have been prepared under the historical cost
 convention in Accordance with: (I) The Generally Accepted Accounting
 Principles,
 
 (ii) The Accounting Standards specified by the institute sf Chartered
 accountants of India (ICAI)
 
 (iii) The provisions of the Companies Act, 1956
 
 Accounting policies not specifically referred to otherwise are
 consistent and in consonance with generally accepted accounting
 principles.
 
 All financial transactions have been recognized on accrual basis. The
 management has made the required estimates and assumptions in
 conformity with Generally Accepted Accounting Principles wherever
 necessary.
 
 (b) Presentation and disclosure of financial statements:
 
 During the year ended 31st March, 2012, the revised Schedule VI
 notified under the Companies Act,1956 has be come applicable to the company,for preparation and presentation
of its financial statements. The adoption of Revised Schedule Vl does not impact recognition and measurement
 principles followed for preparation offinancial statements. Forever, it has
 significant impact on presentation and disclosures made in the
 financial statements. The company has also reclassified and regrouped
 the previous year figures in accordance with the requirements of
 Revised Schedule VI.
 
 (c) Revenue Recognition:
 
 Revenue/income and cost/expenditure are generally accounted on accrual
 basis as they are earned or incurred.
 
 (d) Fixed Assets:
 
 There are no fixed assets
 
 (e) Investments:
 
 Investments are valued at cost,
 
 (f) Accounting for Taxes:
 
 provision for tax is made by applying tax rates and tax laws. Deferred
 tax charge or credit on timing difference is recognized using current
 tax rates and tax laws that has been enacted or substantively enacted
 as ofthe Balance Sheet date Deferred Tax Assets are recognised to the
 extent there is virtual certainty that these Assets can be realised in
 future.