a.  Change in accounting policy.  Presentation and disclosure of
 financial statements
 
 During the year ended 31 March 2012, the revised Schedule VI notified
 under the Companies Act 1956, has become applicable to the company, for
 preparation and presentation of its financial statements.  However it
 has significant impact on presentation and disclosures made in the
 financial statements. The company has also reclassified the previous
 year figures in accordance with the requirements applicable in the
 current year.
 
 b.  Use of estimates
 
 The preparation of financial statements in conformity with Indian GAAP
 requires the management to make judgments estimates and assumptions
 that affect the reported amounts of revenues, expenses, assets and
 liabilities and the disclosure of contingent liabilities, at the end of
 the reporting period. Although these estimates are based on the
 management''s best knowledge of current events and actions, uncertainty
 about these assumptions and estimates could result in the outcomes
 requiring a material adjustment to the carrying amounts of assets or
 liabilities in future periods.
 
 c.  Tangible fixed assets
 
 Fixed assets, except land and buildings are stated at cost, net of
 accumulated depreciation and accumulated impairment losses, if any. The
 cost comprises purchase price borrowing costs if capitalization
 criteria are met and directly attributable cost of bringing the asset
 to its working condition for the intended use. Any trade discounts and
 rebates are deducted in arriving at the purchase price.
 
 Subsequent expenditure related to an item of fixed asset is added to
 its book value only if it increases the future benefits from the
 existing asset beyond its previously assessed standard of performance.
 Other expense on existing fixed assets including day-to-day repair and
 maintenance expenditure and cost of replacing parts are charged to the
 statement of profit and loss for the period.
 
 d.  Depreciation on tangible fixed assets
 
 Deprecation on fixed assets is calculated on a WDV method using the
 rates specified under the Schedule XIV to the Companies Act, 1956
 arrived on the basis of the useful lives estimated by the management.
 
 e.  Intangible assets
 
 Intangible assets acquired separately are measured on initial
 recognition at cost. Following initial recognition, intangible assets
 are carried at cost less accumulated amortization and accumulated
 impairment losses if any. Internally generated intangible assets,
 excluding capitalized development costs, are not capitalized and
 expenditure is reflected in the statement of profit and loss in the
 year in which the expenditure is incurred.
 
 Intangible assets are amortized on a straight line basis over the
 estimated useful economic life. All other intangible assets are
 assessed for impairment whenever there is an indication that the
 intangible asset may be impaired.
 
 The amortization period and the amortization method are reviewed at
 least at each financial year end. If the expected useful life of the
 asset is significantly different from previous estimates, the
 amortization period is changed accordingly. If there has been a
 significant change in the expected pattern of economic benefits from
 the asset, the amortization method is changed to reflect the changed
 pattern. Such changes are accounted for in accordance with AS 5 Net
 Profit or Loss for the Period, Prior Period Items and Changes in
 Accounting Policies.
 
 Gains or losses arising from derecognizing of an intangible asset are
 measured as the difference between the net disposal proceeds and the
 carrying amount of the asset and are recognized in the statement of
 profit and loss when the asset is derecognized.
 
 f.  Borrowing Cost
 
 Borrowing cost includes interest, amortization of ancillary costs
 incurred in connection with the arrangement of borrowings and exchange
 differences arising from foreign currency borrowings to the extent they
 are regarded as an adjustment to the interest cost.
 
 Borrowing costs directly attributable to the acquisition, construction
 or production of an asset that necessarily takes a Substantial period
 of time to get ready for its Intended use or sale are capitalized as
 part of the cost of the respective asset. All other borrowing costs are
 expensed in the period they occur.
 
 g.  Impairment of tangible and Intangible assets
 
 Management periodically assesses using, external and internal sources,
 whether there is an indication that an asset may be impaired. An
 impairment loss is recognized wherever the carrying value of an asset
 exceeds its recoverable amount. The recoverable amount is higher of the
 asset''s net selling price and value in use i.e. the present value of
 future cash flows expected to arise from the continuing use of the
 asset and its eventual disposal. An impairment loss for an asset is
 reversed if there has been a change in the estimates used to determine
 the recoverable amount since the last impairment loss was recognized.
 
 h.  Investments
 
 Investments that are readily realizable and intended to be held for not
 more than a year are classified as current investments. All other
 investments are classified as long term investments. Current
 investments are carried at lower of cost and fair value determined on
 an individual investment basis. Long term investments are carried at
 cost. However, provision for diminution in value is made to recognize a
 decline other than temporary in the value of the investments.
 
 i.  Revenue Recognition
 
 Revenue is recognized to the extent that it is probable that the
 economic benefits will flow to the company and the revenue can be
 reliably measured. The following specific recognition criteria must
 also be met before revenue is recognized.
 
 Sale of goods
 
 Revenue from sale of goods is recognized when all the significant risks
 and rewards of ownership of the goods have been passed to the buyer,
 usually on delivery of the goods.
 
 The company collects sales taxes and value added taxes (VAT) on behalf
 of the government and, therefore these are not economic benefits
 flowing to the company. Hence, they excluded from revenue. Excise duty
 deducted from revenue (gross) is the amount that is included in the
 revenue (gross) and not the entire amount of liability arising during
 the year.
 
 Income from services
 
 Revenues from maintenance contracts are recognized pro-rata over the
 period of the contract as and when services are rendered. The company
 collects service tax on behalf of the government and, therefore it is
 not an economic benefit flowing to the company. Hence it is excluded
 from revenue.
 
 Interest
 
 Interest income is recognized on a time proportion basis taking into
 account the amount outstanding and the applicable interest rate.
 Interest income is included under the head other income In the
 statement of profit and loss.
 
 Dividends
 
 Dividend income is recognized when the company''s right to receive
 dividend is established by the reporting date.
 
 j. Taxes on Income
 
 Tax expense comprises current and deferred tax. Current income tax is
 measured at the amount expected to be paid to the tax authorities in
 accordance with the Income-tax Act, 1961 enacted in India and tax laws
 prevailing in the respective tax jurisdictions where the company
 operates. The tax rates and tax laws used to compute the amount are
 those that are enacted or substantively enacted, at the reporting date.
 Deferred Income taxes reflect the impact of timing differences between
 taxable income and accounting Income originating during the current
 year and reversal of timing differences for the earlier years. Deferred
 tax is measured using the tax rates and the tax laws enacted or
 substantively enacted at the reporting date. Deferred income tax
 relating to items recognized directly in equity is recognized in equity
 and not in the statement of profit and loss.
 
 Deferred tax liabilities are recognized for taxable timing differences.
 Deferred tax assets are recognized for deductible timing differences
 only to the extent that there is reasonable certainty that sufficient
 future taxable income will be available against which such deferred tax
 assets can be realized. In situations where the company has unabsorbed
 depreciation or carry forward tax losses, all deferred tax assets are
 recognized only if there is virtual certainty supported by convincing
 evidence that they can be realized against future taxable profits.
 
 At each reporting date, the company re-assesses unrecognized deferred
 tax assets. It recognizes unrecognized deferred tax asset to the extent
 that it has become reasonably certain or virtually certain as the case
 may be that sufficient future taxable income will be available against
 which such deferred tax assets can be realized.
 
 The carrying amount of deferred tax assets are reviewed at each
 reporting date. The company writes- down the carrying amount of
 deferred tax asset to the extent that it is no longer reasonably
 certain or virtually certain as the case may be that sufficient future
 taxable income will be available against which deferred tax asset can
 be realized. Any such write-down is reversed to the extent that it
 becomes reasonably certain or virtually certain as the case may be that
 sufficient future taxable income will be available.
 
 Deferred tax assets and deferred tax liabilities are offset, if a
 legally enforceable right exists to set-off current tax assets against
 current tax liabilities and the deferred tax assets and deferred taxes
 relate to the same taxable entity and the same taxation authority.
 
 Minimum alternate tax (MAT) paid in a year is charged to the statement
 of profit and loss as current tax. The company recognizes MAT credit
 available as an asset only to the extent that there is convincing
 evidence that the company will pay normal income tax during the
 specified period. i.e the period for which MAT credit is allowed to be
 carried forward. In the year in which the company recognizes MAT credit
 as an asset in accordance with the Guidance Note on Accounting for
 Credit Available in respect of Minimum Alternative Tax under the
 Income-tax Act, 1961, the said asset is created by way of credit to the
 statement of profit and loss and shown as MAT Credit Entitlement. The
 company reviews the MAT credit entitlement asset at each reporting
 date and writes down the asset to the extent the company does not have
 convincing evidence that it will pay normal tax during the specified
 period.
 
 k. Earnings per share
 
 Basic earnings per share are calculated by dividing the net profit or
 loss for the period attributable to equity shareholders after deducting
 preference dividends and attributable taxes by the weighted average
 number of equity shares outstanding during the period. Partly paid
 equity shares are treated as a fraction of equity share to the extent
 that they are entitled to participate in dividends relative to a fully
 paid equity share during the reporting period. The weighted average
 number of equity shares outstanding during the period is adjusted for
 events such as bonus issue bonus element in a rights issue, share
 spilt, and reverse share split consolidation of shares that have
 changed the number of equity shares outstanding without a corresponding
 change in resources. For the purpose of calculating diluted earnings
 per share, the net profit or loss for the period attributable to equity
 shareholders and the weighted average number of shares outstanding
 during the period are adjusted for the effects of all dilutive
 potential equity shares.
 
 l. Provisions
 
 A provision is recognized when the company has a present obligation as
 a result of past event, it is probable that an outflow of resources
 embodying economic benefits will be required to settle the obligation
 and are reliable estimate can be made of the amount of the obligation.
 Provisions are not discounted to their present value and are determined
 based on the best estimate required to settle the obligation at the
 reporting date. These estimates are reviewed at each reporting date and
 adjusted to reflect the current best estimates. Where the company
 expects some or all of a provision to be reimbursed, for example under
 an insurance contract, the reimbursement is recognized as a separate
 asset but only when the reimbursement is virtually certain. The expense
 relating to any provision is presented in the statement of profit and
 loss net of any reimbursement.
 
 m. Contingent liabilities
 
 A contingent Iiability is a possible obligation that arises from past
 events whose existence will be confirmed by the occurrence or
 non-occurrence of one or more uncertain future events beyond the
 control of the company or a present obligation that is not recognized
 because it is not probable that an outflow of resources will be
 required to settle the obligation. A contingent liability also arises
 in extremely rare cases where there is a liability that cannot be
 recognized because it cannot be measured reliably. The company does not
 recognize a contingent liability but discloses its existence in the
 financial statements.
 
 n. Cash and cash equivalents
 
 Cash and cash equivalents for the purposes of cash flow statement
 comprise cash at bank and in hand and short-term investments with an
 original maturity of three months or less.
 
 o. Cash Flow Statement
 
 Cash flows are reported using the indirect method, whereby profit
 before tax is adjusted for the effects of transactions of a non cash
 nature and any deferrals or accruals of past or future cash receipts or
 payments.  The cash flows from operating, financing and investing
 activities of the company are segregated.
 
 p. Lease Accounting
 
 a) The onetime expense incurred and management fees earned, at the time
 of execution of Lease / Hire Purchase Agreements are charged to
 revenue, in the year of execution itself, as they are deemed to accrue
 then itself.
 
 b) Hire Purchase Assets are sold at cost and interest is charged to
 Hire Purchase Debtors as per the terms of the Hire Purchase Agreement.
 
 c) The Hire Purchase Debtors are accounted for at cost only and the
 outstanding balances therein, reflect the cost of the Hire Purchase
 Sales, yet to be recovered.
 
 d) The Company writes off lease assets under finance lease, over the
 lease period, by providing for Lease Equalization as per Guidance Note
 of the ICAI, in respect of accounting for leases.