a. Revenue Recognition:
The Company follows the accrual system of accounting and accounts for
income and expenditure on accrual basis.
The Company has ceased lending operations on account of cancellation of
NBFC registration by Reserve Bank of India.
The Company has not provided interest on borrowing and deposits
accepted in the earlier years due to negotiations for settlement.
b. Fixed Asset:
No Fixed Assets. Fixed assets have been assigned in the last year
itself. However the Company has received an additional Rs.30 Lakhs this
year towards assets sold in earlier year.
c. Depreciation of fixed asset: Nil
Inventories which represents shares are valued as follows: Quoted
Shares:- At cost or market value which ever is lower Un-Quote Shares:-