1 a) The accounts of the Company are prepared on historical cost basis
 and on the accounting principle of a going concern.
 
 b) The Company recognizes income on accrual basis for income from Sale
 of Commodities, Agro Products. Biotech Software Consultancy, and
 Education & Training is recognized upon completion of the job.
 
 c) In respect of other heads of income, the company follows the
 practice of accounting of such income on accrual basis.
 
 2.  Inventories: Inventories of work-in-process, finished goods and
 traded products are valued at standard cost adjusted for variances or
 net realizable value, whichever is lower. Cost of work-in-process and
 finished goods include materials, labour and manufacturing overheads.
 
 3.  a) Fixed Assets are stated at cost, which includes expenditure on
 installation / construction and preoperative expenses wherever
 applicable.
 
 b) Depreciation on Fixed Assets is provided block-wise on written down
 value method on pro-rata basis as per rates prescribed in Schedule XIV
 to the Companies Act, 1956.
 
 c) The cost incurred for fixed assets, the construction/ installation/
 acquisition of which are not completed is included under the heard
 ''Capital Work in Progress''.
 
 4.  Investments: Long term investments are stated at cost.
 
 5.  There has been no foreign exchange income or outflow during the
 year.
 
 6.  Provision for current tax is made on the basis of the estimated
 taxable income for the current account- ing year in accordance with the
 Income Tax Act, 1961.
 
 7.  Deferred Tax is recognized, subject to the consideration of
 prudence, on timing difference being the difference between taxable
 incomes and accounting income that originate in one period and are ca-
 pable of reversal in one or more subsequent periods. Deferred tax
 assets are not recognized on unab- sorbed depreciation unless there is
 virtual certainty that sufficient future taxable income will be avail-
 able against which such deferred tax assets can be realized.
 
 8.  Retirement Benefits Gratuity, Leave Encashment and other retirement
 benefits are accounted for on cash basis.
 
 9.  Impairment of assets
 
 An asset is treated as impaired when the carrying cost of the asset
 exceeds its recoverable value being higher of value in use and net
 selling price. Value in use is computed at net present value of cash
 flow expected over the balance useful life of the assets.
 
 An impairment loss is recognized as an expense in the Profit and Loss
 Account in the year in which an asset is identified as impaired. The
 impairment loss recognized in prior accounting period is reversed if
 there has been an improvement in recoverable amount.
 
 10.  Provisions, Contingent Liabilities and Contingent Assets
 
 Provisions involving substantial degree of estimation in measurement
 are recognized when there is present obligation as a result of past
 events and it is probable that there will be an outflow of resources.
 Contingent liabilities are not recognized but are disclosed in the
 notes. Contingent assets are neither recognized nor disclosed in the
 financial statements.