(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
(B) FIXED ASSETS
Fixed Assets are stated at cost of acquisition and include incidental
expenses less Depreciation
Depreciation in provided on written down value in the manner and at the
rates prescribed in the Income Tax Rules, 1962.
i) Immovable property is valued at cost including direct and
ii) Shares are valued at cost.