a. Basis of Preparation of Financial Statements
 
 The financial statements have been prepared to comply in all material
 respects with the accounting standards notified by Companies
 (Accounting Standards) Rules, 2006 (as amended) and the relevant
 provisions of the Companies Act, 1956. The financial statements have
 been prepared under the historical cost convention on an accrual basis.
 The accountings policies have been consistently applied by the Company
 and are consistent with those used in the previous period.
 
 b.  Use of Estimates
 
 The preparation of financial statements in conformity with generally
 accepted accounting principles requires management to make estimates
 and assumptions that affect the reported amounts of assets and
 liabilities and disclosure of contingent liabilities at the date of the
 financial statements and the results of operations during the reporting
 year end. Although these estimates are based upon management''s best
 knowledge of current events and actions, belief that these estimates
 are reasonable and prudent, actual results may differ from estimates.
 
 c.  Revenue Recognition
 
 Incomes/Expenses/Revenues are accounted for on accrual basis. Revenue
 is recognised to the extent that it is probable that the economic
 benefit will flow to the company and the revenue can be reliably
 measured.
 
 d.  Fixed Assets
 
 Fixed Assets are stated at cost including all incidental expenses
 incurred for bringing the asset to its current position, less
 depreciation at rates prescribed in Schedule XI Vto the Companies Act,
 1956, subject to provisions of Accounting Standard 26 Intangible
 Assets.
 
 e.  Depreciation
 
 Depreciation has been provided on Straight Line Method in accordance
 with section 205(2) of the Companies Act, 1956 at the rates specified
 in schedule XIV to the Companies Act, 1956, on pro-rata basis with
 reference to the period of use of such assets. Assets costing less
 than'' 5,000/- per item are depreciated at 100% in the year of purchase.
 
 f.  Impairment of Assets
 
 The carrying amounts of Cash Generating Assets are reviewed at each
 Balance Sheet date to determine whether there is any indication of
 impairment. If any such indication exists, the recoverable amount is
 estimated at the higher of net realisable value and value in use.
 Impairment loss is recognised wherever carrying amount exceeds the
 recoverable amount.
 
 g.  Retirement Benefits
 
 All short-term and long term employee benefits are recognised at their
 undiscounted amount in the accounting period in which they are
 incurred.
 
 h.  Income Tax
 
 Provision for current tax is made for the tax liability payable on
 taxable income after considering the allowances, deductions and
 exemptions and disallowances if any determined in accordance with the
 prevailing tax laws.
 
 The differences between the taxable income and the net profit or loss
 before tax for the period as per the financial statements are
 identified and the tax effect on the timing differences is recognised
 as deferred tax asset or deferred tax liability. The tax effect is
 calculated on the accumulated timing differences at the end of the
 accounting period based on the tax rates and laws, enacted or
 substantively enacted as of the balance sheet date.
 
 i.  Provisions, Contingent Liabilities & Contingent Assets
 
 The Company creates a provision when there is a present obligation as a
 result of an obligating event that probably requires an outflow of
 resources and a reliable estimate can be made of the amount of the
 outflow.
 
 Contingent liabilities are disclosed in respect of possible obligations
 that arise from past events but their existence is confirmed by the
 occurrence or non-occurrence of one or more uncertain future events not
 within the control of the company.
 
 Contingent Assets are neither recognised nor disclosed in the Financial
 Statements as a matter of prudence.