1.1 Basis of Accounting :
 
 The accounts of the company have been prepared on historical cost
 convention using the accrual basis of accounting on consistent basis.
 
 1.2 Investments:
 
 Long term investments are stated at cost. Incidental expenses incurred
 in acquiring the investments are added to the cost. Decline in carrying
 amount of investments, if any, other than of temporary nature is
 provided for in the Statement of Profit and Loss .
 
 1.3 Revenue Recognition :
 
 Income from Consultancy & Advisory Services is recognised as per the
 terms of agreement.
 
 Income interest is recognised on time accrual basis.
 
 1.4 Taxation:
 
 The provision for current tax, if any, is computed in accordance with
 the relevant tax regulations. Deferred Tax is recognised on timing
 difference between accounting and taxable income for the year by
 applying applicable tax rates as per Accounting Standard-22 on
 Accounting for Taxes on Income. Deferred Tax Assets is recognised
 wherever there is reasonable certainty that future taxable income will
 be available against which such Deferred Tax Assets can be realised.
 
 1.5 Provisions and Contingent Liabilities:
 
 Provisions are recognised in the accounts for present probable
 obligations arising out of past events that require outflow of
 resources, the amount of which can be reliably estimated.
 
 Contingent liabilities are disclosed in respect of possible obligations
 that arise from past events but their existence is confirmed by the
 occurrence or non occurrence of one or more uncertain future events not
 wholly within the control of the company, unless likelihood of an
 outflow of resources is remote. Contingent assets are not recognised in
 the accounts, unless there is virtual certainty as to its realisation.