(i) Method of Accounting
a. The financial statements are prepared under the historical cost
convention in accordance with generally accepted accounting principles
and the requirements of the Companies Act, 1956.
b. The Company generally follows accrual system of accounting and
recognizes significant items of income & Expenditure on accrual basis.
(ii) Amortization of Miscellaneous Expenditure
a. Registration Charges are amortized over a period of ten years.
b. Deffered Revenue Expenditure: Expenses incurred for providing
amenities at the office premises are amortised over the period of the
(iii) Employees Retirement Benefits
Gratuity, Provident Fund and Other Retirement Scheme are not applicable
and hence the Company accounts Gratuity on payment basis.