1.  Accounting : Conventional Basis of accounting
 
 The financial statements are prepared under the historical cost
 convention, on accrual basis of accounting in accordance with the
 Companies Act, 1956 and in accordance with generally accepted
 accounting principles (Indian ''GAAP'') are in compliance with the
 Accounting Standards issued by the Institute of Chartered Accountants
 of India (ICAI).
 
 2.  Use of Estimates :
 
 The preparation of financial statements requires management to make
 estimates and assumptions that affect the reported amounts of assets
 and liabilities, disclosure of contingent amount as at the date of
 financial statements and reported amounts of revenues and expenses
 during the reporting period. Actual results could differ from these
 estimates. Any revision to the accounting estimates is recognized in
 the periods in which the results are known / materialized.
 
 3.  As the Company''s business activity falls within a single primary
 business segment viz. Investment and Advisory services, etc. the
 disclosure requirements of Accounting Standard (AS-17) Segment
 Reporting issued by the Institute of Chartered Accountants of India
 are not applicable.
 
 4.  Income and Expenditure :
 
 Income and expenditure are accounted on accrual basis.
 
 5.  Fixed Assets :
 
 All the fixed assets have been stated at their original cost inclusive
 of any expenses incurred for the acquisition and / or installation as
 reduced by any sale / discard and accumulated depreciation.
 
 The asset is treated as impaired when the carrying cost of the asset
 exceeds its recoverable value, there is no such assets which is
 impaired during the year.
 
 6.  Depreciation :
 
 The Company has provided depreciation at the rate prescribed in
 Schedule XIV to The Companies Act, 1956.
 
 7.  Investment :
 
 a.  Long Term investments are carried in the financial statement at
 cost, less any diminution in value, other than temporary as per the
 accounting standards.
 
 b.  Shares, Debentures, Units, Warrants and Securities those are
 intended, at the time of acquisition, to be held for a period exceeding
 twelve months are classified as Investments. The balance are
 current investments.
 
 c.  Shares, Debentures, Units, Warrants and Securities are accounted
 under Investments on trade dates.
 
 d.  Rights entitlements are accounted for as Investments at issue price
 plus acquisition cost, if any.
 
 e.  Bonus entitlements are recognised on ex-bonus dates without any
 acquisition cost.
 
 f.  The cost of Investments includes brokerage, service tax and stamp
 duty.
 
 8.  Valuation of Investments :
 
 Quoted scrip under Investments is valued at cost whereby the cost of
 each scrip is compared with its market value and the resultant
 shortfall, if any, of long-term nature is charged to revenue.
 Unquoted/Thinly traded scripts are valued at intrinsic value.
 
 10.  Related Party Transactions :
 
 Parties are considered related, if at any time during the year, one
 party has the ability to control the other party, or to exercise
 significant influence over the other party in making financial and/or
 operating decisions.
 
 11.  Provisions, Contingent Liabilities and Contingent Assets :
 
 Provisions involving substantial degree of estimation in measurement
 are recognized when there is a present obligation as a result of past
 events and it is probable that there will be an outflow of resources
 
 Contigent Liabilities are not recognized but are disclosed in the
 notes. Contigent Assets are neither recognized nor disclosed in the
 financial statements.