a) Method of accounting : The Company has maintained its accounts of
 all revenues, expenses, assets and liabilities, having material bearing
 on financial statements, on accrual basis, unless otherwise stated.
    
 b) Fixed Assets : Fixed Assets are stated at cost less depreciation.
    
 c) Depreciation : Depreciation is provided on written down value method
 on pro-rata basis in accordance with the rates prescribed under
 schedule XIV of the Companies Act, 1956.
    
 d) Retirement Benefits : Provision for gratuity, leave encashment and
 superannuation liability will be accounted on payment basis.