a.  Change in accounting policy Presentation and disclosure of
 financial statements
 
 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 doesnot impact recognition and measurement
 principles followed for preparation of financial statements. However,
 it has significant impact on presentation and disclosures made in the
 financial statements.
 
 b.  Use of estimates
 
 The preparation of financial statements in conformity with Indian GAAP
 requires the management to make judgements, estimates and assumptions
 that affect the reported amounts of revenues, expenses, assets and
 liabilities and the disclosure of contingent liabilities, at the end of
 the reporting period.
 
 Although these estimates are based on the management''s best knowledge
 of current events and actions, uncertainity about these assumptions and
 estimates could result in the outcomes requiring a material adjustment
 to the carrying amounts of assets or liabilities in future period.
 
 c.  Tangible fixed assets
 
 Fixed assets are stated at cos0-evalued amount where applicable, less
 depreciation. The cost comprises '' purchase price and directly
 attributable cost of bringing asset to its working condition for the
 intended use. Any trade discounts and rebates are deducted in arriving
 at the purchase price.
 
 d.  Depreciation on tangible fixed assets
 
 Depreciation is provided on straight-line method in accordance with the
 provisions of the Companies Act, 1956.
 
 (i) In respect of assets acquired prior to 2nd May, 1987 in accordance
 with the provisions of section 205 (2) (b) of the Companies Act, 1956,
 and the Circular No. 1/36- CLV No. 15 (50) 84-CL, VI dated 21.5.1986
 issued by the Department of Company Affairs.
 
 (ii) In respect of assets acquired after 1st May, 1987, in accordance
 with the rates prescribed in Schedule XIV to the Companies Act, 1956.
 
 e.  Investments
 
 Current Investments are carried at lower of cost or fair value
 
 f.  Retirement Benefits
 
 The Company has the scheme for Provident, Gratuity and Superannuation
 funds which are recognised under the Income Tax laws. Contributions to
 these funds are provided according to the respective rules of the funds
 and debited to profit and loss account
 
 g.  Provision For Bad And Doubtful Debts/Advances
 
 Provision is made in the accounts for bad and doubtful debts /advances
 which in the opinion of the Management are considered irrecoverable.
 
 h.  Income Taxes
 
 Deferred tax assets as per Accounting Standard 22 has not been
 recognized and carried forward in view of absence of reasonable
 certainty about the sufficient future taxable income.
 
 i.  Earning per share
 
 Basic earnings per share are calculated by dividing the net profit or
 loss for the period attributable to equity shareholders by the weighted
 average number of equity shares outstanding during the period.
 
 For die 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
 adjusted for the effects of all dilutive potential equity shares.
 
 j. Contingent Liabilities
 
 A contingent liability is a possible obligation that arises from past
 events whose existence will be confirmed by the occurrence or non
 occurrence of one or more uncertain future events beyond the control of
 the company or a present obligation that is not recognised because it
 is not probable that an outflow of resources will be required to setde
 the obligation. A contingent liability also arises in extremely rare
 cases where there is a liability that cannot be recognised because it
 cannot be measured reliably. The company does not recognise a
 contingent liability but discloses its existence in the financial
 statements
 
 k. Cash and cash equivalents
 
 Cash and cash equivalents for the purposes of cash flow statement
 comprise cash at bank and in hand.