I) Significant Accounting Policies
 
 i) BASIS OF ACCOUNTING
 
 The Company prepares its financial statements on accrual basis in
 accordance with the generally accepted accounting principles &
 provision of Companies Act, 1956.
 
 ii) FIXED ASSET & DEPRECIATION
 
 Fixed Asset including leased assets are shown at cost less
 depreciation. Depreciation on the Fixed Assets including assets costing
 below Rs. 5000/- has been provided on straight line method at the rate
 prescribed in the schedule XIV of the Companies Act, 1956 on pro-rata
 basis with reference to the actual month of purchase/installment/sale.
 
 The terminal depreciation in respect of assets given on lease
 transferred on termination of lease agreement so as to provide for the
 difference between cost of assets less transfer value and accumulated
 depreciation till date of transfer takes place is charged as
 depreciation.
 
 iii) MISCELLANEOUS EXPENDITURE
 
 Preliminary Expenses :
 
 Preliminary Expenses are being written off equally over a period of ten
 Years.