a) Basis of Accounting:
 
 The financial statements have been prepared in accordance with the
 generally accepted accounting principles in India under the historical
 cost convention on accrual basis. These financial statements have been
 prepared to comply in all material aspects with the generally accepted
 accounting principles in India, the Accounting Standards as notified
 under the Companies (Accounting Standards ) Rules, 2006 (as amended)
 and other relevent provisions of the Companies Act, 1956.
 
 During the year ended March 31, 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. The adoption
 of revised Schedule VI does not impact recognition and measurement
 principles followed for preperation of financial statements, however,
 it has significant impact on the presentation and disclosures made in
 the financial statements. The previous year''s figures have also been
 reclassified in accordance with the requirements applicable to the
 current year.
 
 b) Use of Estimates:
 
 The preparation of financial statements in conformity with generally
 accepted accounting principles requires management to make estimates
 and assumptions that affect the reported amounts of assets and
 liabilities on the date of the financial statements and the reported
 amounts of revenues and expenses during the reporting period.  Actual
 results could differ from those estimates.  Differences between the
 actual results and estimates are recognized in the period in which the
 results are known/materialized.
 
 c) Fixed Assets and Depreciation:
 
 Fixed Assets are stated at cost less accumulated depreciation. Cost
 includes all expenses related to acquisition and installation of the
 concerned assets and any attributable cost of bringing the asset to the
 condition of its intended use. Borrowing costs attributable to the
 acquisition or construction of a qualifying assets is also capitalised
 as part of the cost of the asset.
 
 Depreciation is provided under the straight line method, based on
 useful lives of assets as estimated by the Management or at the rates
 prescribed in Schedule VI to the Companies Act 1956, whichever is
 higher. Depreciation is charged on a monthly pro-rata basis for assets
 purchased/ sold during the year. Individual assets acquired for less
 than Rs 5,000/- are entirely depreciated in the year of acquisition. The
 Management''s estimate of useful lives for various fixed assets is as
 under:
 
 d) Leases:
 
 Lease arrangements where the risks and rewards incident to ownership of
 an asset substantially vest with the lessor, are recognized as
 operating leases.  Lease rentals under operating leases are recognized
 in the profit and loss account on straight line basis.
 
 e) Asset Impairment:
 
 The Company assesses at each reporting date using external and internal
 sources, whether there is an indication that an asset may be impaired.
 An impairment occurs where the carrying value exceeds the present value
 of future cash flows expected to arise from the continuing use of the
 asset and its eventual disposal. The impairment loss to be expensed is
 determined as the excess of the carrying amount over the higher of the
 asset''s net sales price or present value as determined above.
 
 f) Investments:
 
 Investments that are readily available and intended to be held for not
 more than one year from the date of acquisition, are classified as
 current investments. All other investments are classified as long term
 investments.
 
 Long-term investments are carried at cost.  Provision for diminution,
 if any, in the value of each long-term investment is made to recognise
 a decline, other than that of a temporary nature.  Current investments
 intended to be held for less than one year are stated at the lower of
 cost and fair value.
 
 g) Foreign Exchange Transactions:
 
 Transactions in foreign currency are recorded in the reporting currency
 by applying the exchange rates prevailing on the date of the
 transaction.  Monetary assets and liabilities related to foreign
 currency transactions, remaining unsettled at the year end, are
 retranslated at the exchange rate prevailing at the reporting date.
 Non-Monetary foreign currency items like investments in foreign
 subsidiaries are carried at cost and expressed in Indian currency at
 the rate of exchange prevailing at the time of making the original
 investment.  Forward exchange contracts entered into to hedged foreign
 currency risk of an existing asset/liability.
 
 The premium or discount arising at the inception of forward contract is
 amortised and recognized as an expense/income over the life of the
 contract.  Exchange differences on such contracts are recognized in the
 statement of profit and loss in the period in which the exchange rates
 change. Cancellation gains or losses on such contracts are also
 recognized as income or expenses for the period.
 
 h) Derivative Instruments and Hedge Accounting: The Company uses
 foreign currency forward contracts to hedge its risk associated with
 foreign currency fluctuations relating to certain firm commitments and
 highly probable forecast transactions. The Company designates these as
 Cash Flow Hedges.
 
 The use of foreign currency forward contracts is governed by the
 Company''s policies approved by the Board of Directors, which provide
 written principles on the use of such forward contracts consistent with
 the Company''s risk management strategy. The Company does not use
 derivative financial instruments for speculation purpose.  Forward
 exchange contracts obtained to hedge firm commitments or highly
 probable forecast revenues are recorded using the principles of hedge
 accounting as recommended under Accounting Standard 30 -  Financial
 Instruments: Recognition and Measurement issued by The Institute of
 Chartered Accountants of India. Such forward exchange contracts which
 qualify for cash flow hedge accounting and where the conditions of AS
 30 have been met are initially measured at fair value and are
 remeasured at subsequent reporting dates. Changes in the fair value of
 these derivatives that are designated and effective as hedges of the
 future cash flows are recognized directly under Shareholder''s Funds in
 the Hedging Reserve and the ineffective portion is recognized
 immediately in the Statement of Profit and Loss.
 
 Changes in the fair value of derivative financial instruments that do
 not qualify for hedge accounting are recognized in the Statement of
 Profit and Loss as they arise.
 
 Hedge accounting is discontinued when the hedging instrument expires or
 is sold, terminated, exercised, or no longer qualifies for hedge
 accounting. At that time for forecasted transactions, any cumulative
 gain or loss on the hedging instruments recognized in the Hedging
 Reserve is retained there until the forecasted transaction occurs. If a
 hedge transaction is no longer expected to occur, the net cumulative
 gain or loss recognized in the Hedging Reserve is transferred to the
 Statement of Profit and Loss for the year.
 
 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.
 
 Services:
 
 Revenue from time and material contracts for software development is
 recognized on a per hour basis as per the terms and conditions agreed
 with the customers or on completion of contracts or when the
 deliverables are dispatched to customers.  In case of fixed price
 contracts, which are generally time bound, revenue is recognized over
 the life of the contract using proportionate completion method, on the
 basis of work completed. Foreseeable losses on such contracts are
 recognized when probable.
 
 Unbilled Revenues included in loans and advances represents costs in
 excess of billings as at the balance sheet dates. Advance Billing and
 Deferred Revenue included in current liabilities represents billing in
 excess of revenue recognized.
 
 Products:
 
 Revenue from sale of traded software products is recognized when the
 software has been delivered, in accordance with sales contract. Revenue
 from software upgradation fees on software developed by the Company is
 recognized over the period for which it is received.
 
 Others:
 
 Interest income is recognized on time proportion basis. Dividend income
 is recognized when the right to receive the dividend is established by
 the reporting date.  
 
 j) Borrowing Costs:
 
 Borrowing costs that are directly attributable to the acquisition of an
 asset that necessarily takes a substantial period of time to get ready
 for its intended use are capitalized as part of the cost of that asset
 till the date it is put to use. Other borrowing costs are recognized as
 an expense in the period in which they are incurred.  
 
 k) Research and Development Expenditure:
 
 Expenditure on in-house development of software is charged to the
 Statement of Profit and Loss in the year in which it is incurred.  l)
 Software Expenditure:
 
 Software purchased is capitalized and written off over its useful life,
 which is normally three years, provided the software is regularly
 updated through a maintenance contract, failing which, the unamortized
 balance is charged to revenue. If the usage of software is
 discontinued, its unamortized cost is also charged to revenue.
 
 The cost of software purchased for specific software development
 contracts is charged over the period of such contracts, or three years,
 whichever is less.  Small-value software purchases costing between Rs
 5,000 and Rs 50,000, other than software categorized as ''Standard
 Software Development Tools'', is written off as and when incurred.
 Software categorized as ''Standard Software Development Tools'' is
 capitalized and depreciated over a period of three years.
 
 Software costing below Rs 5,000 is written off as and when the cost is
 incurred.
 
 l) Employee Stock Option Schemes:
 
 Stock Options granted to employees are in accordance with the SEBI
 (Employee Stock Option Scheme and Employee Stock Purchase Scheme)
 Guidelines, 1999 and are at market price calculated under the said
 Guidelines. The intrinsic value, being the difference, if any, between
 market price and exercise price is treated as Personnel Expenses and
 charged to Statement of Profit and Loss. The value of the options is
 treated as a part of employee compensation in the financial statements
 and is amortised over the vesting period.  n) Warranty Obligations:
 
 In respect of products sold by the Company, which carry a specified
 warranty, future costs that will be incurred by the Company in carrying
 out its obligations are estimated and accounted for on accrual basis.
 
 m) Income-tax:
 
 Tax expense comprise of current and deferred tax. Current income tax
 comprises taxes on income from operations in India and in foreign
 jurisdictions. Income tax payable in India is determined in accordance
 with the provisions of the Income Tax Act, 1961. Tax expense relating
 to foreign operations is determined in accordance with tax laws
 applicable in jurisdictions where such operations are domiciled.
 
 Minimum alternative tax (MAT) paid in a year is charged to the
 Statement of Profit and Loss as current tax. The Company recognises MAT
 credit available as an asset only to the extent there is convincing
 evidence that the Company will pay normal income tax after the
 specified period.  Accordingly, MAT is recognized as an asset in the
 balance sheet when it is probable that the future economic benefit
 associated with it will flow to the Company and the asset can be
 measured reliably.  Deferred tax is recognized on timing differences
 being the difference between taxable income and accounting income that
 originate in one period and are capable of reversal in one or more
 subsequent periods. Deferred tax assets and liabilities are measured
 using the tax rates and tax laws that have been enacted or
 substantively enacted by the balance sheet date.
 
 In the event of unabsorbed depreciation and carry forward of losses,
 deferred tax assets are recognized only to the extent that there is
 virtual certainty that sufficient future taxable income will be
 available to realise such assets. In other situations, deferred tax
 assets are recognized only to the extent that there is reasonable
 certainty that sufficient future taxable income will be available to
 realise these assets.
 
 Advance taxes and provisions for current income taxes are presented in
 the balance sheet after off-seffing advance taxes paid and income tax
 provisions arising in the same tax jurisdiction and the Company intends
 to settle the asset and liability on a net basis. The Company offsets
 deferred tax assets and deferred tax liabilities if it has a legally
 enforceable right and these relate to taxes on income levied by the
 same governing taxation laws.  p) Segment Reporting:
 
 As per AS-17 Segment Reporting if a single financial report contains
 both consolidated financial statements and the separate financial
 statement of the parent, segment information need be presented only on
 the basis of the consolidated financial statements. Accordingly
 information required to be presented under AS-17 Segment Reporting has
 been given in the consolidated financial statements.  q) Employee
 Benefits:
 
 Short-term Employee benefits:
 
 All employee benefits payable wholly within twelve months of rendering
 the service are classified as short term employee benefits. Benefits
 such as salaries, performance incentives, leave encashment etc., are
 recognized as an expense at the undiscounted amount in the Statement of
 Profit and Loss of the year in which the employee renders the related
 service.
 
 Post Employment benefits:
 
 Defined Contribution Plans:
 
 Payments made to defined contribution plans such as Provident Fund and
 Superannuation are charged as an expense in the Statement of Profit and
 Loss as they fall due.
 
 Defined Benefit Plans:
 
 The Company has maintained a Group Gratuity Cum Life Assurance Scheme
 through a Master Policy with the Life Insurance Corporation of India
 towards which annual premiums as determined by actuarial valuation are
 paid and charged against revenue. Under the Gratuity plan, every
 employee is entitled to the benefit equivalent to fifteen days final
 salary last drawn for each completed year of service depending on the
 date of joining. The same is payable on termination of services or
 retirement whichever is earlier. The benefit vests after five years of
 continuous services.  
 
 n) Provision and Contingent Liabilities:
 
 A provision is recognized when the Company has a present obligation as
 a result of past event and it is probable that an outflow of resources
 embodying economic benefits will be required to settle the obligation
 in respect of which a reliable estimate of the amount of the obligation
 can be made. Provisions are not discounted to its present value and are
 determined based on current best estimate.
 
 A contingent liability is a possible obligation that arrises from past
 events whose existance will be confirmed by the occurance or non
 occurance 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 is/not recognized but its
 existance is disclosed in the financial statements.  s) 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 fraction of an 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 right issue,
 share split 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.
 
 o) Right/terms attached to Equity Shares:
 
 The Company has only one class of equity shares having a par value of Rs
 2 per share. Each share holder is eligible for one vote per share held.
 The dividend proposed by the Board of Directors is subject to the
 approval of shareholders in the ensuing general meeting, except in case
 of interim dividend. In the event of liquidation of the Company, the
 holders of equity shares will be entitled to receive remaining assets
 of the Company, after distribution of all prefrential amounts. The
 distribution will be in proportion to the number of equity shares held
 by the shareholders.