I.  Basis of preparation of financial statements:
 
 The financial statements have been prepared under the historical cost
 convention in accordance with the generally accepted accounting
 policies, and the provisions of the Companies Act, 1956 as adopted
 consistently by the Company.
 
 Accounting policies not specifically referred otherwise are consistent
 and in consistence with generally accepted accounting principles
 followed by the Company.
 
 II.  Basis of Accounting:
 
 All Income and Expenditure items having a material bearing on the
 financial statements are recognized on accrual system.
 
 III. Fixed Assets:
 
 Company does not have any Fixed Assets.
 
 IV.  Depreciation:
 
 Company does not have any Fixed Assets. Therefore, no depreciation is
 provided.
 
 V.  Taxation:
 
 Income Tax expense comprises current tax deferred tax charge or credit.
 The deferred charge or credit is recognized using current tax rates.
 Where there is unabsorbed or carry forward depreciation, deferred tax
 assets are recognized only if there is virtual certainty of realisation
 of such assets. Other deferred tax assets are recognised only to the
 extent there is reasonable certainty of realisation in future. Deferred
 tax assets/ liabilities are reviewed as at each Balance Sheet date
 based on developments during the year and available case laws to
 reassess realization/liabilities.
 
 VI.  Inventories:
 
 Stocks of shares, securities and Commodities have been valued at cost
 or market value whichever is lower.
 
 VII. Income:
 
 Interest on Inter Corporate Deposits, Loan and other financial services
 are accounted for on accrual basis.
 
 VIII.  Recognition of Expenditure.
 
 Revenue expenditure is accounted for on accrual basis.
 
 IX.  Miscellaneous Expenditure:
 
 The Company amortizes Miscellaneous Expenditure over a period of ten
 years.