a) Accounting Convention: The accounts are prepared under the
 historical cost convention and materially complied with mandatory
 accounting standards
 
 b) Recognition of Income & Expenditure: Items of Income and Expenditure
 are recognized only on accrual basis unless referred otherwise.
 
 c) Fixed Assets: The fixed assets are stated at historical cost
 including directly attributable costs of bringing the assets to their
 working condition.
 
 d) Depreciation. Depreciation is provided on fixed assets on straight
 line method pro rata basis as per rates prescribed in schedule XIV of
 the Companies Act, 1956. Depreciation on Assets Disposed/Acquired
 during the year has been provided on month end balances
 
 e) inventories: There are no inventories.
 
 f) Foreign Currency Transactions: Foreign Currency Transactions are
 recorded at the exchange rate prevailing on the date of transaction.
 
 g) Tax on Income:
 
 (i) Current Corporate Tax is provided on the basis of profit for the
 year after considering applicable tax rates and laws.  
 
 (II) Deferred Tax is provided on timing differences between tax and
 accounting treatments that originate in one period and are expected to
 be reversed or settled in subsequent periods. Deferred Tax Assets and
 Liability are measured using the enacted or substantively enacted tax
 rates for continuing operations. Deferred Tax Assets are reviewed only
 if there is reasonable certainty that they will be realised and are
 reviewed for there respective carrying value at each balance sheet date
 h) Earning Per Shan: In determining Earning Per Share (EPS), the
 company considers the net profit before tax and net profit after tax.
 The number of shares used in computing basic and diluted EPS is the
 weighted average number of shares outstanding during the
 
 i) Contingent Liabilities: Contingent Liabilities are not provided and
 are disclosed in the notes to accounts.