The financial statements are prepared by following the going concern
 concept on historical cost convention using the accrual method of
 accounting, unless otherwise stated.
 
 Use of Estimates :
 
 The preparation of the financial statements in conformity with the
 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, disclosure of
 contingent liabilities and reported amounts to revenues and expenses
 for the year. Estimates are based on historical experience, where
 applicable and other assumptions that management believes are
 reasonable under the circumstances. Actual results could vary from
 these estimates and any such differences are dealt with in the period
 in which the results are known/ materialize.
 
 A. Revenue recognition
 
 (a) Issue Management Fee and fees for other managerial services -
 Considered on the completion of assignment.
 
 (b) Underwriting Commission and brokerage on distribution of financial
 products - Considered on receipt of subscription particulars.
 
 (c) Brokerages under stock broking operations are accounted on
 completion of contract.
 
 (d) Interest on overdue lease rentals and hire purchase installments
 are accounted for on receipt basis.
 
 (e) Dividend income is recognized when the right to receive is
 established.
 
 B. Fixed Assets
 
 Fixed Assets are stated at historical cost less accumulated
 depreciation & provision for impairment (if any). Leased assets
 (Contracted prior to December 1997) are further adjusted for the
 balance in lease adjustment account.
 
 C. Depreciation
 
 a) On Assets other than given on lease
 
 In respect of assets other than assets given on lease, the Company
 provides depreciation on the assets on the Straight Line Method (SLM)
 at the rates prescribed in Schedule XIV to the Companies Act, 1956, on
 pro-rata basis, the month in which the assets are installed taken as
 full month. Software costs are amortised on SLM over a period of three
 years, from the year of acquisition.
 
 b) On Leased assets under discontinued operations
 
 In respect of leased assets under discontinued operations, the Company
 provides depreciation on the assets in the WDV method at the rates
 prescribed in Schedule XIV to the Companies Act 1956 on pro-rata basis,
 the month in which the assets are installed taken as full month. The
 cost of the Leased Assets are amortised fully during the Lease period.
 (In accordance with the Guidance note on Accounting for Leases
 (revised) issued by the Institute of Chartered Accountants of India.)
 The difference between the statutory depreciation and the annual lease
 charge is adjusted through the Lease Equalisation, which is adjusted
 with the lease income.
 
 D Investments
 
 The investments held by the Company are all long-term investments. Long
 term investments are carried at cost less provision for diminution,
 other than temporary in nature. The Company has reckoned diminution in
 value of shares / debentures as permanent in nature by relying on
 market value of quoted shares and book value/ fair value whichever is
 higher in respect of unquoted shares.
 
 E Employee Benefits
 
 a) Short Term employee benefits/obligations are estimated and provide
 for.
 
 b) Gratuity - The Company has an obligation towards gratuity, a defined
 benefit retirement plan covering eligible employees. The plan provides
 for a lump sum payment to vested employees at retirement, death while
 in employment or on termination of employment an amount equivalent to
 15 days'' salary payable for each completed year of service. Vesting
 occurs upon completion of five years of service. The company annual
 contribution to gratuity fund established as a Trust through a Group
 Gratuity Policy with Life Insurance Corporation of India. The Company''s
 liability towards Gratuity is actuarially determined at balance sheet
 date using the Project Unit Credit (PUC) method. Actuarial gains and
 losses are recognized in revenue.
 
 c) Provident Fund - The eligible employees of the company are entitled
 to receive benefits under Provident Fund, a defined contribution plan
 in which both employees and the company makes monthly contributions at
 a specified percentage of the covered employees salary, the
 contributions as specified under the Law are paid to the Provident fund
 and pension fund to the provident fund authorities
 
 d) Leave encashment - The eligible Leave encashment liability to the
 employees other than those deputed by Indian Bank has been provided for
 on the basis of actuarial valuation based on number of days un-
 utilised leave at each balance sheet date.
 
 e) The retirement benefit liability to staff on deputation from Indian
 Bank is borne by Indian Bank except eligible Provident Fund
 contribution.
 
 F Segment Reporting
 
 The Segment Reporting is prepared in conformity with the accounting
 policies of the Company.
 
 G Discontinued Operations
 
 The accounting policies adopted for Discontinued Operations are in line
 with the accounting policies adopted for Continuing Operations.
 
 H Income Tax
 
 Income Tax comprises the current tax provision and the net change in
 the deferred tax asset or liability during the year. Deferred tax
 assets and liabilities are recognized for the future tax consequences
 arising out of temporary differences between the carrying values of the
 assets and liabilities and their respective tax bases.  Deferred tax
 assets are recognized and carried forward to the extent that there is a
 reasonable/virtual certainty (as applicable) that sufficient future
 taxable income will be available against which such deferred tax asset
 can be realized. The effect on deferred tax assets and liabilities
 resulting from change in tax rates is recognized in the income 
 statement in the period of ehacement of the chanae.