1.  The Company follows the Historical Cost Convention and the accounts
 are maintained on a going concern basis.
 
 2.  The Company follows the Mercantile System of Accounting except for
 Dividend on shares and Interest on Debenture which is accounted on
 receipt basis.
 
 3.  Investments, unless otherwise stated are valued at cost.
 
 4.  Depreciation is provided on written down value method basis on
 Fixed Assets at the rates prescribed under Schedule XIV of the
 Companies Act,1956.