i.  Basis for preparation of financial statements:
 
 The financial statements are prepared under the historical cost
 convention, having due regard to the fundamental accounting assumptions
 of going concern, consistency, accrual and in compliance with the
 mandatory accounting standards as specified in the Companies
 (Accounting Standards) Rules, 2006.
 
 ii.  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, actual results could differ
 from these estimates.
 
 iii. Investments:
 
 Investments are stated at cost. Permanent decline in the value of
 long-term investments is recognized.  Temporary declines in the value
 of long-term investments are ignored.
 
 iv.  Revenue recognition:
 
 All revenues are generally recognized on accrual basis except where
 there is an uncertainty of ultimate realization.
 
 i.  Dividend from investment in shares is recognized as and when the
 company''s right to receive payment is established.
 
 ii.  Security commission and interest income is recognized on accrual
 basis.
 
 v.  Provision and contingencies:
 
 A provision is recognized when an enterprise has a present obligation
 as a result of past event and it is probable that an outflow of
 resources will be required to settle the obligation, in respect of
 which a reliable estimate can be made. Provisions are not discounted to
 its present value and are determined based on management estimate
 required to settle the obligation at the balance sheet date. These are
 reviewed at each balance sheet date and adjusted to reflect the current
 management estimates.
 
 vi.  Tax expense:
 
 Tax expense comprises of current tax. Current tax is measured at the
 amount expected to be paid to the tax authorities in accordance with
 the Indian Income Tax Act.
 
 vii. Segmental reporting :
 
 The operations of the company are divided into investment and financial
 services. Accordingly, the primary segment reporting comprises the
 performance under these segments.
 
 viii.  Employee Benefit :
 
 a.  Defined-contribution plans
 
 These are plans in which the Company pays pre-defined amounts to
 separate funds and does not have any legal or informal obligation to
 pay additional sums. These comprise of contributions to the
 employees'' provident fund and Employees'' Pension Scheme with the
 government. The Company''s payments to the defined contribution plans
 are recognized as expenses during the period in which the employees
 perform the services that the payment covers.