1. SIGNIFICANT ACCOUNTING POLICIES :
The accounts are prepared in accordance with the accounting principles
generally accepted. The Company follows accural method of accounting.
The Significant accounting policies to the extent applicable to the
Company are as under:
(a) Accounting Assumption : The Accounts have been prepared under the
accounting assumption of going concern, accrued and consistency.
(b) Revenue Recognition : All the known expenditure and income to the
extent considered, payable and receivable respectively, unless
specifically stated to be otherwise, are accounted for on accrual
(c) Fixed Assets & Depreciation : Fixed Assets are stated at their
original cost. Depreciation in respect of assets is not provided during
(d) Investments : Investments are valued at cost. No provision for fall
in the market value of these investment has been made.
(e) Valuation of Inventories : Shares held as stock-in-trade are valued
at their cost inclusive of related expenses. No provision for fall in
the market value of these stock-in-trade has been made.
(f) Miscellaneous Expenditure : In accordance with the provision of
Section 35D of the Income Tax Act, 1961, the Company has written off
1/10 of Preliminary Expenses.
The Company has written off 1/10 of Public Issue Expenses.
(g) Retirement Benefits : No provision for retirement benefits for
employees has been made as no employee has put in qualifying period of
services for the entitlement of these benefits.
(h) Contingent Liabilities : There are no Contingent Liabilities.
(1) Research & Development: No research and development expenditure has
been incurred by the Company during the year.
(j) Foreign Currency transactions : The Company has not made Foreign
Currency transaction during the year.