Basis of Prepration of Financial statements
 
 the Financial statements are prepared under the historical cost
 convention on the basis of going concern and 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.
 
 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.
 
 revenue recognition
 
 Revenue of hotel operations is recognised when the services are
 rendered and the same becomes chargeable.  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
 rights to receive payment is established.  Revenue from shop License
 Fee included under other Income is recognised on accrual basis as per
 terms of contract.
 
 Prior Period adjustments, extraordinary items and Changes in accounting
 Policies
 
 Prior period adjustments, extraordinary items and changes in accounting
 policies having material impact on the fnancial affairs of the Company
 are disclosed.
 
 government grant
 
 Investment subsidy received from the Government is credited to
 Capital Reserve.
 
 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/hire purchase 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 at the reporting date.
 
 depreciation/amortisation
 
 Depreciation on Fixed Assets other than land 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 long term leasehold land, leased vehicles,
 building installed on leasehold land are amortised over the period of
 the respective leases or over the remaining lease period from the date
 of installation, whichever is shorter. Long term leasehold land is
 amortised over the balance period of lease, commencing from the date
 the land is put to use for commercial purposes. Vehicles acquired on
 lease are depreciated over their respective lease period or fve years,
 whichever is earlier.
 
 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.
 
 Finance 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 Proft and Loss Account under Interest and Finance charges.
 
 Investments
 
 Investments held by the Company which are long term in nature are
 stated at cost unless there is any permanent diminution in value.
 Current investments are valued at cost or market price/fair value,
 whichever is lower. earnings on investments are accounted for on
 accrual basis or when rights to receive payment are established.
 
 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 Proft and Loss Account.
 
 transactions in foreign Currency
 
 a) transactions in foreign currencies are recorded at the exchange rate
 prevailing on the date of transaction.
 
 b) Monetary items outstanding on the Balance sheet date are translated
 at the exchange rate prevailing at the Balance sheet date and the
 difference is recognised as income or expenses.
 
 c) Marked to Market (MtM) gains/losses on derivative transactions under
 Currency/Interest swaps/Hedging are recognised in the books of account
 in line with the Accounting standard (As-11) on the effect of Changes
 in Foreign exchange Rates read with the pronouncement of the national
 Advisory Committee on Accounting standards dated 26th March, 2009.
 
 Realised/settled gains/losses arising out of Currency/Interest swaps
 during the year are recognised as income/expenditure in the Proft and
 Loss Account.
 
 employee benefits
 
 short term employee Beneft is recognised as an expense in the Proft and
 Loss Account of the year in which related service is rendered.  Post
 employment and other Long term employee Benefts 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
 the 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 independent
 actuarial valuation as at the Balance sheet date following projected
 unit Credit Method in accordance with the requirements of Accounting
 standard As-15 (Revised) on employee Benefts is included in
 provisions.
 
 (iii) Provident Fund: Liability on account of 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 (DBP) 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 is capitalised as part of the cost of the respective
 assets. other borrowing costs are recognised as expenses in the year in
 which they arise.
 
 taxes on income
 
 Income-tax is accounted for in accordance with Accounting standard
 (As-22) – Accounting for taxes on Income notifed pursuant to the
 Companies (Accounting standards) Rules, 2006.
 
 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 losses
 are not recognised unless there is virtual certainty about availability
 of future taxable income to realise such assets.
 
 Proposed dividend
 
 Dividend, when recommended by the Board of Directors, is provided for
 in the Accounts pending shareholders approval.
 
 Provision, Contingent liabilities and Contingent assets
 
 Provisions are recognised in terms of Accounting standard (As-29) –
 Provisions, Contingent Liabilities and Contingent Assets notifed
 pursuant to the Companies (Accounting standards) Rules, 2006, when
 there is a present legal or statutory obligation as a result of past
 events, 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.