(A) BASIS OF PREPARATION OF FINANCIAL STATEMENT
 
 The financial statements have been prepared under the historical cost
 convention, in accordance with the generally accepted accounting
 principles and the provisions of the Companies Act, 1956, as adopted
 consistently by the Company i.e. Mercantile System of Accounting except
 for gratuity & Leave encasement to employees which are accounted on
 cash basis.
 
 (B) FIXED ASSETS
 
 Fixed Assets are stated at cost of acquisition and include incidental
 expenses less Depreciation
 
 (C) DEPRECIATION
 
 Depreciation in provided on written down value in the manner and at the
 rates prescribed in the Income Tax Rules, 1962.
 
 (D) INVESTMENTS
 
 i) Immovable property is valued at cost including direct and
 identifiable expenses.
 
 ii) Shares are valued at cost.