a. Basis of Preparation of Financial Statements
 
 The financial statements have been prepared to comply in all material
 respects with the accounting standards notified by Companies
 (Accounting Standards) Rules, 2006 (as amended) and the relevant
 provisions of the Companies Act, 1956. The financial statements have
 been prepared under the historical cost convention on an accrual basis.
 The accountings policies have been consistently applied by the Company
 and are consistent with those used in the previous period.
 
 b. Use of Estimates
 
 The preparation of financial statements in conformity with generally
 accepted accounting principles requires management to make estimates
 and assumptions that affect the reported amounts of assets and
 liabilities and disclosure of contingent liabilities at the date of the
 financial statements and the results of operations during the reporting
 year end. Although these estimates are based upon management''s best
 knowledge of current events and actions, belief that these estimates
 are reasonable and prudent, actual results may differ from estimates.
 
 c. Revenue Recognition
 
 Incomes/Expenses/Revenues are accounted for on accrual basis in
 accordance with the Accounting Standard (AS-9) issued by the Institute
 of Chartered Accountants of India except for dividend and interest on
 income-tax. Revenue is recognised to the extent that it is probable
 that the economic benefit will flow to the company and the revenue can
 be reliably measured.  Sale of shares is accounted whon the contract
 for sale is entered into.
 
 d. Inventories
 
 Stock of equity shares held as stock-in-trade by the company is valued
 at lower of cost or market value. Cost is determined on first in first
 out basis.
 
 e. Fixed Assets 
 
 Fixed Assets are stated at cost including all incidental expenses
 incurred for bringing the asset to its current position, less
 depreciation at rates prescribed in Schedule XIV to the Companies Act,
 1956, subject to provisions .of Accounting Standard 26 Intangible
 Assets'' issued by Institute of Chartered Accountants of India.
 
 f. Depreciation
 
 Depreciation has been provided on Straight Line Method in accordance
 with section 205(2) of the Companies Act, 1956 at the rates specified
 in schedule XIV to the Companies Act, 1956, on pro-rata basis with
 reference to the period of use of such assets. Assets costing less
 than'' 5.000/- per item are depreciated at 100% in the year of purchase.
 
 g. Retirement Benefits
 
 A short-term employee benefits are recognised at their undiscounted
 amount in the accounting period in which they are incurred.  Retirement
 Benefits in the form of gratuity and leave salary is accounted on
 payment basis in the year of payment.
 
 h. Income Tax Provision for current tax is made for the tax
 liability.payable on taxable income after considering the allowances,
 deductions and exemptions and disallowances if any determined in
 accordance with the prevailing tax laws.
 
 The differences between the taxable income and the net profit or loss
 before tax for the period as per the financial statements are
 identified and the tax effect on the timing differences is recognised
 as deferred tax asset or deferred tax liability. Deferred Tax Assets on
 timing differences are recognised only if there is a reasonable
 certainty that sufficient future taxable income will the available
 against which such deferred tax assets can be realised. However,
 deferred tax assets when unabsorbed depreciation and losses carried
 forward exist, are recognised only to the extent that there is virtual
 certainty that sufficient taxable income will be available to''realise
 such assets.
 
 i. Provisions, Contingent Liabilities & Contingent Assets
 
 The Company creates a provision when there is a present obligation as a
 result of an obligating event that probably requires an outflow of
 resources and a reliable estimate can be made of the amount of the
 outflow.
 
 Contingent liabilities are disclosed in respect of possible obligations
 that arise from past events but their existence is confirmed by the
 occurrence or non-occurrence of one or more uncertain future events not
 within the control of the company.
 
 Contingent Assets are neither recognised nor disclosed in the Financial
 Statements as. a matter of prudence.