i.  ACCOUNTING CONCEPTS:
 
 The Company follows the Mercantile System of Accounting and recognises
 Income and Expenditure on Accrual Basis. The Accounts are prepared on
 historical cost basis as a going concern. Accounting policies not
 referred to otherwise are consistent with Generally Accepted Accounting
 Principles.
 
 ii.  FIXED ASSETS:
 
 Fixed Assets are stated at cost less depreciation.
 
 iii.  DEPRECIATION:
 
 Depreciation on Fixed Assets is charged in the account on written down
 value method at the rates specified in Schedule XIV of the Companies
 Act, 1956.
 
 iv.  INVESTMENTS:
 
 Long Term Investments are stated at cost. Provision for diminution in
 the value of long term investments is not made as there is no decline
 in the value of the investments.
 
 v.  INVETORIES:
 
 Shares that are deposited with Bombay Stock Exchange are valued at
 Cost.
 
 vi.  BROKERAGE EARNED:
 
 Brokerage earned is accounted on the basis of transaction done during
 the accounting year irrespective of whether the same are settled during
 the year or not. Brokerage earned is shown as net i.e. after deduction
 of Brokerage paid.
 
 vii. RETIREMENT BENEFITS:
 
 No provision for future liabilities made in respect of gratuity, leave
 encashment, etc.