1. Fixed Assets
 
 Fixed Assets are stated at cost.  Depreciation is provided on items of
 Fixed Assets by applying the Written Down Value Method as per Schedule
 XIV of the Companies Act, 1956.
 
 2. Investments
 
 Long Term Investments are valued at cost.  Diminution in the value of
 such investments is not recognised unless such diminution is considered
 permanent.
 
 3. Foreign Currency Transactions
 
 Transactions in foreign currency are recorded at the exchange rate
 existing at the time of transaction and exchange differences are dealt
 with in the Profit & Loss Account.
 
 Liabilities at the year end are converted at closing rates and exchange
 differences are dealt with in the Profit & Loss Account.