a) Basis for preparation of accounts
 
 These financial statements have been prepared and presented under the
 historical cost convention on an accrual basis of accounting and comply
 with the Accounting Standards as specified in the Companies (Accounting
 Standards) Rules, 2006, other pronouncements of the Institute of
 Chartered Accountants of India, the relevant provisions of the
 Companies Act, 1956 and guidelines issued by the Securities and
 Exchange Board of India, to the extent applicable.
 
 b) Use of Estimates
 
 The preparation of financial statement requires the management of the
 Company to make estimates and assumptions that affect the reported
 balances of assets and liabilities and disclosures relating to the
 contingent liabilities as at the date of the financial statements and
 the reported amount of income and expenses during the year. Examples of
 such estimates include provisions for doubtful debts, employee
 benefits, provision for income taxes, useful life of depreciable fixed
 assets and provision for impairment.
 
 c) Fixed Assets
 
 i) Fixed assets are recorded at cost of acquisition and stated at
 historical cost.
 
 ii) Expenditure incurred on projects during implementation including
 cost of borrowing is capitalized and shown as capital work-in-progress
 and is apportioned to various assets on commissioning/completion of the
 same. Capital work- in-progress includes capital advances also.
 
 d) Depreciation
 
 Depreciation on fixed assets is provided on straight line method in
 accordance with Section 20S(2)(b) of the Companies Act, 1956 at the
 rates which are not lower than the rates specified in Schedule XIV to
 the Companies Act, 1956. Depreciation on additions/deletions during the
 year has been provided for on pro-rata basis. Assets
 purchased/installed during the year costing less than Rs. 5,000/-each
 are fully depreciated.
 
 e) Investments
 
 Investments are stated at cost of acquisition. Provision is made,
 where, there is a permanent fall in the value of investment.
 Investments, unless stated otherwise, are long term investments
 
 0 Revenue recognition
 
 Revenue is recognized when there is reasonable certainty of its
 ultimate realization/ collection. Dividend income is accounted for when
 the right to receive the same is established.
 
 g) Share Issue Expenses
 
 Share issue expenses including advertisement, printing & stationery and
 communication expenses are written off against securities premium
 account.
 
 h) Foreign Currency Transactions
 
 Foreign currency transactions are recorded at the exchange rates
 prevailing on the date of the transaction.
 
 Monetary foreign currency assets and liabilities (monetary items) are
 reported at the exchange rate prevailing on the balance sheet date and
 the resultant net gains or losses are recognized as incomes or expenses
 in the year in which they arise.
 
 i) Inventory
 
 Stock of food & beverages, wine and liquor, store and operating
 supplies have been valued at cost on first-in-first-out basis or net
 realizable value whichever is less.
 
 j) Impairment of assets
 
 An asset is treated as impaired when the carrying cost of asset exceeds
 its recoverable value. The recoverable amount of an asset which is
 identified as impaired is estimated and impairment loss is recognized.
 
 k) Provision
 
 A provision is recognized when an enterprise has a present obi igation
 as a result of past event and it is probable that an outflow of
 resources will be required to settle the obligation, in respect of
 which a reliable estimate can be made. Provisions are not discounted to
 its present value and are determined based on management estimate
 required to settle the obligation at the balance sheet date. These are
 reviewed at each balance sheet date and adjusted to reflect the current
 management estimates.
 
 I) Taxation
 
 The provision for taxation is ascertained on the basis of assessable
 profits computed in accordance with 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
 income and accounting income that originate in one period and are
 capable of reversal in one or more subsequent periods.
 
 m) Earning per Share
 
 Basic earning per share is calculated by dividing the net profit or
 loss for the year attributable to equity shareholders (after deducting
 preference dividends and attributable taxes) by the weighted average
 number of equity shares outstanding during the year.
 
 For the purpose of calculating diluted earrings 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. The
 dilutive potential equity shares are deemed converted as of the
 beginning of the period, unless they have been issued at a later date.
 
 n) Employee Retirement benefits
 
 Short term employee benefits
 
 All employee benefits payable/available within twelve months of
 rendering the service are classified as short-term employee benefits.
 Benefits such as salaries, wages and bonus etc., are recognized in the
 profit and loss account in the period in which the employee renders the
 related service.
 
 Defined benefit plans
 
 Defined benefit plans of the company consists of gratuity and provident
 fund.
 
 - Gratuity
 
 The company has an obligation towards gratuity, a defined benefit
 retirement plan covering eligible employees. The plan provides for a
 lump sum payment to vested employees at retirement, death while in
 employment or on termination of employment of an amount based on the
 respective employee''s salary and the tenure of employment. Vesting
 occurs upon completion of five years of service.
 
 -Provident Fund
 
 The company makes specified monthly contribution towards the employees''
 provident fund for eligible employees.
 
 The liability in respect of defined benefit plans, other than provident
 fund, is accrued in the books of account on the basis of actuarial
 valuation carried out by an independent actuary. The contribution made
 to the provident fund are charged to profit and loss account as and
 when these become payable.
 
 Defined contribution plans
 
 - Leaves Encashment
 
 As per the company''s policy, eligible leaves can be accumulated by the
 employees and carried forward to future periods either to be utilized
 during the service, or encashed. Encashment can be made during service,
 on early retirement, on withdrawal of scheme, at resignation and upon
 death of the employee. The value of benefits is determined based on the
 seniority and the employee''s salary.
 
 The company accounts for the liability for leave encashment payable in
 future on the basis of actuarial valuation carried out by an
 independent actuary.