Basis of Preparation of Financial Statements:
 
 The Accounts are prepared in accordance with the generally accepted
 accounting principals. It is the Company's policy to provide the
 expenses and income on accrual basis. However, on Loans and Advances
 the interest is provided on cash basis.
 
 Fixed assets:
 
 Fixed Assets are stated at cost less accumulated depreciation.
 
 Depreciation:
 
 Depreciation is provided on S.L.M. method according to Schedule XIV of
 Companies Act, 1956.