a) Method of Accounting
 
 The financial statements are prepared on an accrual basis under the
 historical cost convention in accordance with Generally Accepted
 Accounting Principles (GAPP) and in compliance with the applicable
 Accounting Standards issued by the Institute of Chartered Accountants
 of India and relevant provisions of the Companies Act, 1956.
 
 b) Investments
 
 Investments being long term are stated at cost Provision against
 diminution in the value of investments is made in case diminution is
 considered as other than temporary, as per criteria laid down by the
 Board of Directors after considering that such investments are
 strategic in nature.
 
 Current investments are stated at lower or cost of fair value.
 
 c) Revenue Recognition
 
 Interest is accounted for on an accrual basis, dividend is accounted
 when right to receive payment is established.
 
 d) Taxes on Income
 
 i.  Current Tax: Provision for Income Tax is determined in accordance
 with the provisions of Income Tax Act.  1961.
 
 ii. Deferred Tax Provision: Deferred tax is recognised on timing
 differences between the accounting income and the taxable income for
 the year, and quantified using the tax rates and laws enacted or
 substantively enacted on the Balance Sheet date.
 
 Deferred tax assets are recognized and carried forward to the extent
 that there is a reasonable certainty that sufficient future taxable
 income will be available against which such deferred tax assets can be
 realized.