1 Basis of Preparation
 
 (a) During the year ended 31 March 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 company has also reclassified the previous year figures in
 accordance with the requirements applicable in the current year.
 
 (b) Accounting policies not specifically referred to otherwise are
 consisitent with generally accepted accounting principles in India.
 
 2 Basis of Accounting
 
 The Company has followed the mercantile system of Accounting and
 recognizes Income & Expenditure on accrual basis except rates & taxes
 being accounted for on cash basis.
 
 3 Tangible Fixed Assets ''
 
 Fixed assets are stated at cost, net of accumulated depreciation and
 accumulated impairment losses, if any.  The cost comprises purchase
 price, borrowing costs if capitalization criteria are met and directly
 attributable cost of bringing the asset to its working condition for
 the intended use. Any trade discounts and rebates are deducted in
 arriving at the purchase price
 
 4 Depreciation on tangible fixed assets
 
 Depreciation on Fixed Assets has been provided for based on the rates
 specified in Schedule XIV to the Companies Act, 1956, on the basis of
 written down value method.
 
 5 Investments
 
 Long-term investments are stated at cost, less provision for other than
 temporary diminution in value.