a) Basis for preparation of Financial Statements
 
 The financial statements are prepared under the historical cost
 convention in accordance with the applicable Accounting Standards
 pursuant to Companies (Accounting Standard) Rules, 2006. All income and
 expenditure having material bearing on the financial statements are
 recognised on an accrual basis
 
 The preparation of financial statements requires the Management to make
 certain estimates and assumptions in the reported amounts of assets and
 liabilities (including contingent liabilities) as on the date of the
 financial statements and the reported income and expenses during the
 reporting period. The Management believes that the estimates used in
 preparation of the financial statements are prudent and reasonable.
 Actual results could differfrom these estimates
 
 b) Revenue Recognition
 
 i) Managementfee income on funds under management and advisory fee
 income are recognised based on contractual arrangements 
 
 ii) Income from Investment in Units of Private Equity Funds (PEF) is
 recognised on the basis of income distributed by the respective PEFs 
 
 iii) Dividend income is recognised once the unconditional right to
 receive dividend is established 
 
 iv) Interest income on fixed deposits is accrued proportionately based
 on period for which the same is placed
 
 c) Fixed Assets (Tangible and Intangible)
 
 Fixed Assets are stated at cost of acquisition and other incidental
 expenses
 
 d) Investments
 
 i) Investments are capitalised at actual cost including costs
 incidental to acquisition
 
 ii) Investments are classified as long term or current at the time of
 making such investments
 
 iii) Long term investments are individually valued at cost less
 provision fordiminution, otherthan temporary
 
 iv) Current investments are valued at lowerofcostorfairvalue, computed
 scrip-wise
 
 e) Foreign Currency Transactions
 
 i) Foreign currency transactions are recorded at the rate prevailing on
 the date of transaction. Foreign currency monetary items outstanding as
 at the Balance Sheet date are restated at the closing rate. The premium
 or discount arising at the inception of a Forward Contractis amortised
 as income or expense over the life of such Contract
 
 (ii) Non-Monetary items which are carried in terms of historical cost
 denominated in foreign currency at the Balance Sheet date are reported
 using the exchange rate at the date of the transaction
 
 f) Employee Benefits
 
 i) Contributions to Provident Fund and Superannuation Fund are charged
 to the Profit and Loss Account as perapplicable law/rules
 
 ii) The Company has taken group gratuity cum life assurance scheme with
 Life Insurance Corporation of India for gratuity payable to the
 employees. Incremental liability based on actuarial valuation as per
 the projected unit credit method as at the reporting date, is charged
 to the Profit and Loss Account
 
 iii) The leave balance is classified as short term and long term based
 on the best estimates after considering the past trends. The short term
 leave encashment liability for the expected leave to be encashed has
 been measured on actual components eligible for leave encashment and
 expected short term leave to be availed is valued based on the total
 cost to the Company and Long term leave have been valued on actuarial
 basis
 
 g) Taxation
 
 Income tax comprises of Current Tax and net changes in Deferred Tax
 Assets or Liability during the year. Current Tax is determined at the
 amount of tax payable in respect of taxableincomefortheyearasperthe
 Income taxAct, 1961
 
 Deferred Tax Assets and Liabilities are recognised for the future tax
 consequences of timing differences arising from differences in
 accounting policies as perthe accounts drawn up underthe Companies Act
 and the Income-taxAct. Deferred Tax Assets and Liabilities other than
 on carry forward losses and unabsorbed depreciation under tax laws are
 recognised when it is reasonably certain that there will be future
 taxable income. Deferred Tax Asset on carry forward losses and
 unabsorbed depreciation, if any, are recognised when it is virtually
 certain that there will be future taxable profit. Deferred tax assets
 and liabilities are measured using substantively enacted tax rates. The
 effect on deferred tax assets and liabilities of a change in tax rates
 is recognised in the Profit and Loss Account in the period of
 substantive enactmentof the change
 
 h) Cash and Cash equivalent
 
 Cash and Cash equivalent comprises cash on hand, demand deposits with
 banks
 
 i) Earnings PerShare
 
 In determining earnings per share, the Company considers the net profit
 after tax. The number of shares used in computing basic earnings per
 share is the weighted average number of shares outstanding during the
 year. The number of shares used in computing diluted earnings per share
 comprises the weighted average shares considered for deriving basic
 earnings per share, and also the weighted average number of equity
 shares that could have been issued on the conversion of all dilutive
 potential equity shares. Dilutive potential equity shares are deemed
 converted as of the beginning of the year, unless issued at a laterdate
 
 j) Provisions, Contingent Liabilities and Contingent Assets
 
 A provision is recognised when the Company has a present obligation as
 a result of a past event and it is probable that the outflow of
 resources would be required to settle the obligation, and in respect of
 which a reliable estimate can be made. Provisions are not discounted to
 their present value and are determined based on the best estimates at
 the balance sheet date required to settle the obligation. Provisions
 are reviewed at each balance sheet date and are adjusted to reflect the
 current best estimation. Acontingent liability is disclosed unless the
 possibility of an outflow of resources embodying the economic benefits
 is remote. ContingentAssets are neither recognised nordisclosed in the
 financial statements
 
 k) Placement Fees Expense
 
 Placement Fees paid to the Arrangerof Fund are recognized over the life
 of the managed scheme