BASIS OF PREPARATION OF FINANCIAl STATEMENTS
 
 the Financial statements are prepared under the historical cost
 convention (except where impairment is made and revaluation is carried
 out) on the basis of going concern and is in accordance with Accounting
 standards notifed by the Companies (Accounting standards) rules, 2006
 issued by the Central Government in consultation with the National
 Advisory Committee on Accounting standards and relevant provisions of
 the Companies Act, 1956 and on accrual basis.
 
 USE OF ESTIMATES
 
 in preparing the Financial statements in conformity with accounting
 principles generally accepted in india, Management is required to make
 estimates and assumptions that affect the reported amounts of assets
 and liabilities and the disclosure of contingent liabilities as at the
 date of Financial statements and the amounts of revenue and expenses
 during the reported period. Actual results could differ from those
 estimates. Any revision to such estimates is recognised in the period
 the same is determined.
 
 PRIOR PERIOD ADJUSTMENTS, EXCEPTIONAL ITEMS, EXTRAORDINARY ITEMS AND
 CHANGES IN ACCOUNTING POLICIES
 
 prior period adjustments, exceptional items, extraordinary items and
 changes in accounting policies having material impact on the financial
 affairs of the Company are disclosed.
 
 FIXED ASSETS
 
 Fixed Assets are stated at cost of acquisition or construction and in
 case of revaluation of assets at revalued amounts net of impairment
 loss, if any, less depreciation/amortisation. Cost represents direct
 expenses incurred on acquisition or construction of the assets and the
 share of indirect expenses relating to construction allocated in
 proportion to the direct cost involved.
 
 Assets acquired on lease basis are stated at their cash values less
 depreciation/amortisation.
 
 Capital work-in-progress comprises outstanding advances paid/payable to
 acquire fixed assets and the cost of fixed assets that are not yet ready
 for their intended use in the reporting date.
 
 DEPRECIATION
 
 depreciation on fixed assets other than land, certain buildings on
 leasehold lands and leased vehicles is provided on straight Line
 Method” at the rates which are in conformity with the requirements of
 the Companies Act, 1956. Certain fixed assets including leased vehicles,
 building installed on leasehold land (other than on perpetual lease)
 are depreciated over the lives of the respective leases or over the
 remaining lease period from the date of installation whichever is
 shorter.  vehicles acquired on lease are depreciated over their
 respective lease period or sixty months from the date of acquisition,
 whichever is earlier. Long term Leasehold land (other than on perpetual
 lease) are depreciated over the balance period of lease, commencing
 from the date the land is put to use for commercial purposes. the
 additional depreciation on the increase in the value of assets due to
 revaluation is adjusted against revaluation reserve.
 
 REVENUE RECOGNITION
 
 - revenue from hospitality services is recognised when the services are
 rendered and the same becomes chargeable.  revenue from sale of
 printing and other materials is recognised on despatch of materials.
 
 - revenue from interest is accrued and recognised on time basis and
 determined by contractual rate of interest.
 
 - dividend income is stated at gross and is recognised when right to
 receive payment is established.
 
 - revenue from shop Licence Fee, Management and Marketing Fee included
 under other services” is recognised on accrual basis as per terms of
 contract.
 
 IMPAIRMENT OF ASSETS
 
 impairment is ascertained at each Balance sheet date in respect of the
 Companys fixed assets. An impairment loss is recognised whenever the
 carrying amount of an asset or cash generating unit exceeds its
 recoverable amount.
 
 LEASES
 
 in respect of assets acquired on or after 1st April, 2001, the same are
 capitalised at the lower of the fair value and present value of the
 minimum lease payments at the inception of the lease term. Lease
 payments are apportioned between the interest charges and reduction of
 the lease liability so as to achieve a constant rate of interest on the
 remaining balance of the liability. interest component is charged to
 the Profit and Loss Account under interest and Finance charges.
 
 operating lease payments are recognised as expenditure in the Profit and
 Loss Account on straight line basis, over the lease period.
 
 INVESTMENTS
 
 investments held by the Company which are long term in nature are
 stated at cost unless there is any permanent diminution in value where
 provision for diminution is made on individual investment basis.
 Current investments are valued at cost or market price or fair value,
 whichever is lower. earnings on investments are accounted for on
 accrual basis.
 
 INVENTORIES
 
 inventories are valued at cost which is based on First-in-First-out
 method or net realisable value, whichever is lower.
 unserviceable/damaged/discarded stocks and shortages are charged to the
 Profit and Loss Account.
 
 TRANSACTIONS IN FOREIGN CURRENCY
 
 sales made in foreign currency are converted at the prevailing
 applicable exchange rate. Gain/Loss arising out of fuctuations in
 exchange rate is accounted for on realisation.
 
 payments made in foreign currency including for acquiring investments
 are converted at the applicable rate prevailing on the date of
 remittance. Liability on account of foreign currency is converted at
 the exchange rate prevailing at the end of the year. Monetary items
 denominated in foreign currency are converted at the exchange rate
 prevailing at the end of the year.
 
 revenue expenditure of all the overseas sales offces are converted at
 the average exchange rate for the year. Assets and Liabilities other
 than Fixed Assets are converted at the exchange rate prevailing at the
 close of the accounting year and Fixed Assets are converted at the
 month-end exchange rate of the month of acquisition.
 
 Foreign currency loans covered by forward contracts are realigned at
 the forward contract rates, while those not covered by forward
 contracts are realigned at the rates ruling at the year end. the
 differences on realignment is accounted for in the Profit and Loss
 Account.
 
 EMPLOYEE BENEFITS
 
 short term employee Beneft is recognised as expense in the Profit and
 Loss Account of the year in which related service is rendered.
 
 post employment and other Long term employee Benefits are provided in
 the Accounts in the following manner:
 
 (i) Gratuity – Maintained as a defned beneft retirement plan and
 contribution is made to the Life insurance Corporation of india, as per
 Companys scheme. provision/ write back, if any, is made on the basis
 of the present value of the liability as at the Balance sheet date
 determined by actuarial valuation following projected unit Credit
 Method and is treated as liability.
 
 (ii) Leave encashment on termination of service - As per actuarial
 valuation as at the Balance sheet date following projected unit Credit
 Method.
 
 (iii) provident Fund : provident Fund for most of the employees is a
 defned Contribution scheme, where the contribution is made to a Fund
 administered by the Government provident Fund Authority.
 
 For a few employees, provident Fund, administered by a recognised
 trust, is a defned Beneft plan wherein the employee and the Company
 make monthly contributions. pending the issuance of Guidance Note from
 the Actuarial society of india, actuarial valuation is not carried out
 and the Company provides for required liability at year end, in respect
 of the shortfall, if any, upon confrmation from the trustees of such
 Fund.
 
 BORROWING COST
 
 Borrowing cost that is attributable to the acquisition / construction
 of fixed assets are capitalised as part of the cost of the respective
 assets. other borrowing costs are recognised as expenses in the year in
 which they arise.
 
 SHARE ISSUE EXPENSES
 
 share issue expenses are written off against the securities premium
 Account in accordance with section 78 of the Companies Act, 1956.
 
 TAXES ON INCOME
 
 income-tax is accounted for in accordance with Accounting standard on
 ‘Accounting for taxes on income notifed pursuant to the Companies
 (Accounting standards) rules, 2006.
 
 Minimum Alternate tax (MAt) is accounted for in accordance with tax
 laws which give rise to future economic Benefits in the form of tax
 credit against which future income tax liability is adjusted and is
 recognised as an asset in the Balance sheet.
 
 deferred tax is provided and recognised on timing differences between
 taxable income and accounting income subject to prudential
 consideration. deferred tax assets on unabsorbed depreciation and carry
 forward of losses are not recognised unless there is virtual certainty
 about availability of future taxable income to realise such assets.
 
 PROPOSED DIVIDEND
 
 dividend recommended by the Board of directors is provided for in the
 Accounts pending shareholders approval.
 
 PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS
 
 provisions are recognised when there is a present legal or statutory
 obligation as a result of past events and where it is probable that
 there will be outfow of resources to settle the obligation and when a
 reliable estimate of the amount of the obligation can be made.
 
 Contingent Liabilities are recognised only when there is a possible
 obligation arising from past events due to occurrence or non-occurrence
 of one or more uncertain future events not wholly within the control of
 the Company or where any present obligation cannot be measured in terms
 of future outfow of resources or where a reliable estimate of the
 obligation cannot be made. obligations are assessed on an on going
 basis and only those having a largely probable outfow of resources are
 provided for.
 
 Contingent Assets are not recognised in the Financial statements.