1) Basis of preparation of Financial Statements
 
 a) The Financial statements have been prepared under the historical
 cost convention, in accordance with the generally accepted accounting
 principals and provisions of the Companies Act, 1956 as adopted by the
 Companies Act, 1956, and the applicable Accounting standards under the
 Companies (Accounting Standards) Rules, 2006. All Income and
 Expenditure having material bearing on the financial statements are
 recognized on accrual basis.
 
 b) The Company accounts for freight income as soon as bills is raised
 and freight expenses when the hired vehicle start towards its
 destination. Having regard to the size of the Company and nature of its
 business in the Managements opinion, the foregoing is a reasonable
 basis of applying the accrual basis of accounting.
 
 2) Use of Estimates
 
 The presentation of the financial statements in conformity with the
 Generally Accepted Accounting policies requires, the management to make
 estimates and assumptions that affect the reported amount of Assets and
 Liabilities, revenues and Expenses and disclosure of contingent
 liabilities. Such estimation and assumptions are based on management''s
 evaluation of relevant facts and circumstances as on date of financial
 statements.  Difference between the actual results and estimates are
 recognized in the period in which the result are known / materialized.
 
 3) Revenue Recognition
 
 - Revenue/ Income and Cost/ Expenditure are generally accounted on
 accrual basis as they are earned/ incurred, except those with
 significant uncertainties.
 
 - Dividend income from investment is recognized as and when received.
 
 - Other incomes are accounted for on accrual basis except when the
 recovery is uncertain, it is accounted for on receipt basis.
 
 - Claims made against the company are evaluated as to type thereof,
 period for which they are outstanding and appropriate provision made.
 Claims are stated net of recoveries from insurance companies and
 others.
 
 - Administrative and other expenses are stated net of recoveries
 wherever is applicable.
 
 4) Fixed assets
 
 Fixed Assets acquired by the company are reported at acquisition value,
 with deductions for accumulated depreciation and impairment of loss, if
 any. The acquisition value indicates the purchase price and expenses
 directly attributable to assets to bring it to the office and in the
 working condition for its intended use.
 
 5) Depreciation
 
 Depreciation on Fixed Assets is provided on Straight line method at
 the rates prescribed under Schedule XIV of the Companies Act, 1956.
 
 Depreciation on the fixed assets acquired during the year has been
 provided on Pro rata basis.
 
 6) Investments
 
 Investments are accounted at the cost plus brokerage and stamp charges.
 Long term Investments are valued at cost less provision for diminution
 other than temporary, in value, if any. Profit or losses on investment
 are calculated on FIFO Method and it is accounted as and when realized.
 
 7) Inventories
 
 Inventories at year-end are valued at the Lower of the Cost Price or
 net realizable Value.
 
 8) Miscellaneous Expenditure
 
 Preliminary expenses and pre-operative expenses are amortised over a
 period of 10 years.
 
 9) Retirement Benefits
 
 a) Short term employee benefits are recognized as expenses at the
 undiscounted amount in the profit and loss account of the year is which
 the related service is rendered.
 
 b) Defined Contribution Plan:
 
 Monthly contribution to the provident fund which is defined
 contribution schemes are charged to profit & loss account and deposited
 with the provident fund authorities on monthly basis.
 
 Defined benefit Plans:
 
 Gratuities to employees are covered under the employees'' group gratuity
 schemes and the premium is paid on the basis of their actuarial
 valuation using the projected unit credit method. Actuarial gain and
 losses arising on such valuation are recognized immediately in the
 profit & loss account. Any shortfalls incase of premature resignation
 or termination to the extent not reimbursed by LIC is being absorbed in
 the year of payment.
 
 c) Termination benefits are charged to Profit & loss account in the
 year of accrual.
 
 10) Taxes on Income
 
 a.  Current tax in determined on the basis of amount of tax payable on
 taxable income for the year.  Provision for Fringe Benefit Tax is made
 in accordance with the Income Tax Act, 1961.
 
 b.  In accordance with Accounting Standard; -22 Accounting For Taxes
 on Income issued by The Institute of Chartered Accountants of India,
 amount of the deferred tax for timing difference between the book and
 tax profits for the year is accounted for using the tax rate and laws
 that have been enacted or substantively enacted as of the balance sheet
 date. Deferred tax assets arising from temporary timing differences are
 recognized to the extant there is reasonable certainty that the assets
 can be realized in futures.
 
 11) Expenses
 
 Material known liabilities are provided for on the basis of available
 information / estimates with the Management.
 
 Whenever external evidence for expenses are not available, Management
 has taken care of proper authorization of such expenses.
 
 12) Transaction in Foreign Currency
 
 Foreign currency transactions are recorded at the exchange rate
 prevailing on the date of such transaction.
 
 Foreign currency monetary assets and liabilities are reported using the
 closing rate. Gains ad losses arising on account of difference in
 foreign exchange rates on settlement/translation of monetary assets and
 liabilities on the closing date are recognized in the Profit and Loss
 account.
 
 13) Borrowing Cost
 
 Borrowing cost are recognized in the period to which they relate,
 regardless of how the funds have been utilized, except where it relates
 to the financing of new assets requiring a substantial period of time
 for their intended future use. Interest on borrowings if any is
 capitalized up to the date when the asset is ready for its intended
 use. The amount of interest capitalized for the period is determined by
 applying the interest rate applicable to appropriate borrowings.
 
 14) Earning per Share
 
 Basic earning per share is computed and disclosed using the weighted
 average number of common shares outstanding during the year. Dilutive
 earning per share is computed and disclosed using the weighted average
 number of common and dilutive common equivalent shares outstanding
 during the year, except when the results would be anti-dilutive.
 
 15) Impairments of Assets
 
 At each Balance sheet date, the company reviews the carrying amount of
 fixed assets to determine whether there is an indication that those
 assets have suffered impairment loss. If any such indication exists,
 the recoverable amount of assets is estimated in order to determine the
 extent of impairment of loss. The recoverable amount is higher of the
 net selling price and value in use, determined by discounting the
 estimated future cash flows expected from the continuing use of the
 assets to their present value.
 
 16) Provisions and Contingent Liabilities
 
 Provisions involving substantial degrees of estimation in measurement
 are recognized when there is present obligation as a result of past
 events and it is probable that there will be an outflow of resources.
 Provisions (excluding long term benefits) are not discounted to its
 present value and are determined based on best 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 best
 estimates. Contingent liabilities are not recognized but are disclosed
 in the notes to accounts. Contingent assets are neither recognized nor
 disclosed in the financial statements.
 
 17) Cash Flow Statement
 
 The cash flow statement is prepared by the Indirect Method set out in
 Accounting standard 3 on Cash Flow Statements and present the cash flow
 by operating, investing and financing activities of the company.
 
 Cash and cash equivalent presented in the cash flow statement consist
 of cash on hand, Bank balances and demand deposits with banks