(a) General
 
 (i) These accounts are prepared on the historical cost basis and on the
 accounting principles of a going concern.
 
 (ii) Accounting policies not specifically referred to otherwise are
 consistent and in consonance with generally accepted accounting
 principles.
 
 (b) Revenue Recognition
 
 Expenses and income considered payable and receivable have been
 accounted for on accrual basis.
 
 (c) Fixed Assets
 
 Fixed Assets are stated at cost less accumulated depreciation
 
 (d) Investments are stated at the cost of acquisition.
 
 (e) Inventories
 
 Stock-in-trade and spares - At cost or net realizable value whichever
 is lower, cost being the actual purchase price and other costs that are
 necessary to bring the inventories to the present location and
 condition.
 
 (f) Depreciation
 
 Depreciation is provided on straight-line method at the rates and in the
 manner as specified in Schedule XIV of the Companies Act, 1956 except:
 
 - in the case of Licenses and Franchise, depreciation has been
 charged on written down value method at the rate of 25% as specified
 for Intangible Assets under the Income-tax Rules.
 
 - In the case of Spa Equipment, which are depreciated over a period
 of 7 years on straight line method.
 
 (g) Foreign Exchange Transactions:
 
 Transactions in foreign currency are recorded at the prevailing
 exchange rate on the date of negotiation of bills. Current assets and
 current liabilities in foreign currency are stated at the exchange rate
 prevailing as on 31 March, 2012 and the difference is recognized in the
 Statement of Profit and Loss.  Where the Company has entered into
 forward exchange contract the liability is recorded at the contract
 rate. The difference between the contracted rate and the rate at the
 date of transaction, except for the fixed assets, is recognized in the
 Statement of Profit and Loss over the period of the contract.
 
 (h) Employee Benefits
 
 (i) Provision for Gratuity has been accounted as per the actuarial
 valuation done by Life Insurance Corporation of India (LIC) in
 accordance with Accounting Standard on Employee Benefits (AS-15
 revised) and with corresponding payment to LIC.
 
 (ii) Amount payable on account of leave encashment is on actual basis.
 
 (i) Leases:
 
 (i) Assets acquired under finance leases are capitalized at the lower
 of the fair value of the leased assets at the inception of the lease
 term and the present value of minimum lease payments.  Lease payments
 are apportioned between the finance charge and the reduction of the
 outstanding liability. The finance charge is allocated to periods
 during the lease term at constant periodic rate of interest on the
 remaining balance of liability.
 
 (ii) Lease payments under operating lease are recognized as an expense
 in the Statement of Profit and Loss on straight line basis over the
 lease term.
 
 (j) Taxation:
 
 Provision for Income-tax comprises current tax based on the liability
 computed after considering tax allowances and exemptions. Deferred tax
 recognized, subject to consideration of prudence in respect of deferred
 tax assets, at the rate of income tax prevailing on the balance sheet
 date on timing difference, being the difference between the taxable
 income and accounting income that originate in one period and is
 capable of reversal in one or more subsequent periods.