Basis of Accounting
 
 In as much as the Project under implementation as undertaken by the
 Company does not subsist, the Company has no business or activities for
 any assumption or presumption of a going concern, and the financial
 statements are prepared under the historical cost convention for
 related costs and losses, in accordance with generally accepted
 accounting principles and provisions of the Companies Act, 1956.
 
 The aggregate expenditure incurred for the year ending March 31, 2011
 amounted to Rs.12.59 Lakhs, also written off towards the Loss of
 Project Undertaking.
 
 Fixed Assets, Depreciation, Amortisation
 
 a.  Fixed Assets are stated at their cost of acquisition [also refer
 Note 1 and 5(e)]
 
 b.  Freehold Land is also stated at it cost of acquisition.
 
 c.  Depreciation of Fixed Assets was provided on Straight Line Basis at
 the rates and in the manner prescribed by Schedule XIV of the Companies
 Act, 1956.
 
 Save and except the above, the Company has no Fixed Assets and
 therefore, the accounting policies are restated only to the extent of
 Project undertaking costs and losses incorporated in the accounts.
 
 Foreign Currency Transactions
 
 Foreign Currency Transactions were recorded at the exchange rates
 existing at the time of transaction. Foreign Currency Loans in respect
 of fixed assets were restated at the closing rates prevailing as at the
 balance sheet dates and exchange variations arising thereon are
 adjusted to the cost of the related assets and/or expenses. However, as
 the entire principal foreign currency loan have fallen due, though not
 paid as scheduled; the provision or adjustment has been made for all
 dues as per recovery proceedings stated in Note 5(d) including any
 loss/gain on exchange fluctuation and the corresponding cost of
 assets/liabilities/pre-operative expenses pending capitalization up to
 the date of such proceedings. Accordingly, no exchange fluctuations
 have arisen for the year ending March 31,2011.