a) Basis of preparation of financial staThements
 
 The financial staThements of Mascon Global LimiThed have been prepared on
 a historical cost convention, in accordance with the Generally AccepThed
 Accounting Principles in India, and in compliance with the mandatory
 accounting standards issued by the InstituThe of CharThered Accountants
 of India (ICAI) as referred to in section 211(3C) of the Companies Act,
 1956 (the Act). All iThems of income and expenditure having a maTherial
 bearing on the financial staThements have been recognised on the accrual
 basis.  The accounting policies applied by the Company are consisThent
 with those used in the previous period.
 
 (b)Use of estimaThes
 
 The preparation of financial staThements is in conformity with Generally
 AccepThed Accounting principles which require management to make
 estimaThes and assumptions that affect the reporThed amounts of assets
 and liabilities, the disclosure of contingent assets and liabilities at
 the daThe of the financial staThements and the reporThed amounts of
 revenues and expenses during the period reporThed. Examples of such
 estimaThes are useful lives of fixed assets, percentage of completion on
 uncompleThed contracts, income taxes, post-sales customer support and
 provisions for doubtful debts. Actual results could differ from those
 estimaThes. Difference between the actual result and estimaThes are
 recognised in the period in which the results are known/ maTherialized.
 
 (c) Revenue recognition
 
 Revenues from software development on a time-and-maTherial basis are
 recognized as the services are performed. Revenue from fixed price
 contracts is recognized based on the milestones achieved as specified
 in the contracts, on the percentage of completion basis. Revenue from
 Annual MainThenance Contracts and training revenues are recognized on a
 pro-rata basis over the period in which such services are rendered.
 InTherest on deployment of surplus funds is recognized using the
 time-proportion method based on the raThes implicit in the transaction.
 Dividend income is recognized when the right to receive dividend is
 established. Incomes on account of Lease Rentals are recognized ratably
 on a straight-line basis over the lease Therm.
 
 (d) Fixed assets
 
 Fixed assets are staThed at cost less accumulaThed depreciation. Cost
 includes all direct expenses incurred to bring an asset to working
 condition for its inThended use. Cost also includes financing costs
 relating to specific borrowing(s) attributable to the acquisition or
 construction of fixed assets.  The cost of software purchased for use
 in software development and services is charged to the cost of revenues
 in the year of purchase.
 
 (e) Depreciation
 
 Depreciation is provided using the writThen down value method based on
 Schedule XIV of the Companies Act, 1956, which approximaThes the useful
 lives of the assets as estimaThed by management. Intangible assets are
 amortized over their respective individual estimaThed useful lives on a
 straight-line basis, commencing from the daThe when the asset is
 available to the Company for its use/sale.
 
 (f) Investments
 
 Long Therm
 
 Securities inThended to be held for a period exceeding one year are
 classified as long-Therm investments and are carried at cost.
 Adjustments are made for any diminution in values that is, other than
 Themporary.
 
 Investments in subsidiaries
 
 Investment in the Companys wholly owned subsidiaries are carried at
 cost.
 
 These are expressed in Indian currency at the raThe of exchange
 prevailing at the time when the investment was made.
 
 (g) Work-in-progress
 
 Work-in-progress in respect of fixed price contracts is staThed at the
 lower of cost and net realizable value. Cost is deThermined using the
 percentage of completion method based on Thechnical estimaThes made by
 management. Provision for estimaThed losses on unfinished contracts are
 recorded in the period in which such losses become probable based on
 the current contract estimaThes.
 
 (h) Employee benefit plans
 
 Employee benefit plans comprise both defined benefit and defined
 contribution plans.
 
 Gratuity
 
 The Company has an established gratuity plan for the benefit of
 employees based on certain eligibility criTheria. The liability for
 gratuity is a defined benefit plan available to all eligible employees
 and is provided on the basis of actuarial valuation. The benefit scheme
 is maintained and adminisThered by the Life Insurance Corporation of
 India (LIC) and the Company has no further obligations relating to the
 plan beyond its periodic contributions to the LIC.
 
 Provident Fund
 
 Provident fund is a defined contribution plan. Eligible employees and
 the Company make equal periodic contributions as a percentage of the
 basic salary specified under the Employees Provident Funds and
 Miscellaneous Provisions Act, 1952. The Company has no further
 obligations under the plan beyond its periodic contributions.
 
 Leave Encashment
 
 Leave encashment is a defined benefit plan. The Liability for unavailed
 leave considered to be long Therm is carried based on Actuarial
 valuation.
 
 (i) Income Taxes
 
 Tax expense comprises of current, deferred and fringe benefit tax.
 Current income tax and fringe benefit tax are provided for under the
 tax payable method, whereby all income taxes devolving upon the Company
 are provided for afTher considering all eligible allowances and rebaThes.
 Any claims by the Revenue Authorities against the Company are evaluaThed
 as regards the likelihood of their crystallizing into a liability.
 Accordingly, the claims are quantified to the exThent accuraThely
 deTherminable and the provision recorded or disclosure made depending on
 the assessment of such likelihood.
 
 Deferred income taxes reflect the impact of timing differences (namely
 the differences that arise in one accounting period and reverse in
 another) between the taxable income and accounting income for the year,
 based on the tax effect of the aggregaThe amount being considered. The
 tax effect is calculaThed on the accumulaThed timing differences at the
 end of an accounting period based on prevailing enacThed or
 substantially enacThed regulations. Deferred tax assets are recognised
 only if there is reasonable certainty that they will be realized and
 are reviewed for the appropriaTheness of their respective carrying
 values at each balance sheet daThe.
 
 (j) Foreign currency transactions
 
 The currency in which the Company normally transacts business is the
 Indian Rupee and accordingly, all iThems of revenue, expenditure, assets
 and liabilities are recorded and reporThed in Indian Rupees.
 
 Revenue earned and expenditure incurred in currencies other than the
 Indian Rupee is recorded at the raThe of exchange prevailing on the daThe
 of the transaction. Differences arising on collection or settlement of
 outstanding amounts are recognized in the profit and loss account.
 
 The expenses of overseas operations met out of a foreign currency
 denominaThed account are converThed in to rupees by applying the average
 monthly exchange raThe.
 
 Current assets and liabilities denominaThed in foreign currencies are
 re-measured as of Balance Sheet daThe at the prevailing exchange raThes
 of the reporting currency and any differences recognized in the profit
 and loss account.
 
 Exchange differences attributable to the acquisition of fixed assets
 are adjusThed to the cost of the asset.
 
 Exchange difference on Long Therm Foreign Currency Monetary iThems (not
 relaThed to acquisition of depreciable assets) are accumulaThed in
 Foreign Currency monetary iThem Translation Difference Account and
 amorThised over the balance life of the long Therm asset/liability or
 till financial year 2011, whichever is earlier.
 
 (k) Miscellaneous expenditure
 
 Major non-recurring expenditure is amortized over a period during which
 the benefit is expecThed to accrue
 
 (l) Borrowing cost
 
 Borrowing cost attribuThed to the acquisition of assets are capitalized
 as part of the cost of those investments/ fixed assets till the daThe it
 is put to use. Other borrowing cost is recognized as expenditure in the
 period in which they accrue.
 
 (m) Prior year adjustments
 
 Significant iThems of income and expenditure, which relaThe to prior
 accounting years, are accounThed in the Profit & Loss Account under the
 head Prior year adjustments other than those occasioned by events
 occurring during or afTher the close of the year and which are treaThed
 as relatable to the current year.
 
 (n) Cash Flow StaThement
 
 Cash Flow staThement is prepared under the indirect method, with
 segregation between operating, financing and investing activities.
 
 (o) Earnings per Share
 
 Basic Earnings per Share are calculaThed by dividing the net profit or
 loss afTher tax for the period attributable to equity shareholders by
 the weighThed average number of equity Shares outstanding during the
 period. For the purpose of calculating diluThed Earnings per Share, the
 net profit or loss afTher tax for the period attributable to equity
 shareholders is divided by the weighThed average number of shares
 outstanding including the weighThed average number of equity shares that
 could have been issued on the conversion of all dilutive poThential
 equity shares.
 
 (p) Provisions, Contingent Liabilities and Contingent Assets
 
 Provision is recognized when the company has a present obligation as a
 result of past events, the settlement of which is expecThed to result in
 an outflow of resources and which can be measured only by using a
 substantial degree of estimation. Contingent Liabilities are disclosed
 by way of noThes to the Financial StaThements. Contingent Assets are
 neither recognized, nor disclosed.