The financial statements are prepared under the historical cost
 convention on the accrual basis of accounting and in accordance with
 the Generally Accepted Accounting Principles (GAAP) in India and comply
 with the Accounting Standards prescribed by the Companies (Accounting
 Standards) Rules'' 2006 to the extent applicable and in accordance with
 the provisions of the Companies Act'' 1956 as adopted consistently by
 the Company.
 
 The significant accounting policies adopted in presentation of accounts
 are:
 
 a.  Revenue Recognition
 
 (i) Dividends on investments are accounted for when the right to
 receive dividend is established.
 
 (ii) Revenue from sponsorships / management contracts is recognised on
 accrual basis in accordance with contractual arrangements. Revenue from
 sale of entry tickets to events is recognised on receipt basis.
 
 (iii) Profit / Loss on sale of investments are computed on the basis of
 weighted average cost on date of disposal of investments.
 
 b.  Fixed Assets
 
 Fixed Assets are stated at their original cost of acquisition and
 installation less depreciation. All direct expenses attributable to
 acquisition and installation of assets are capitalised.
 
 c.  Inventory
 
 Inventory includes consumables for events and are written off over
 their estimated useful lives.
 
 d.  Depreciation
 
 Depreciation on all assets other than improvement to leasehold
 properties and computer software is charged on straight line basis over
 the estimated useful lives using rates prescribed by Schedule XIV of
 the Companies Act, 1956.
 
 Cost of improvements to leasehold premises is being amortised over the
 primary lease period . Computer software is depreciated over a period
 of 5 years. These rates are higher than those prescribed in Schedule
 XIV of the Companies Act, 1956.
 
 Depreciation on additions is charged proportionately from the date of
 acquisition/ installation. Assets costing less than Rs. 5,000
 individually are fully depreciated in the year of purchase.
 
 e.  Impairment of Assets
 
 The Company assesses at each balance sheet date whether there is any
 indication that an asset may be impaired. If any such indication
 exists, the Company estimates the recoverable amount of the asset.
 
 Recoverable amount is the higher of an asset''s net selling price and
 value in use. In assessing value in use, the estimated future cash
 flows expected from the continuing use of the asset and from its
 disposal are discounted to their present value using a pre-tax discount
 rate that reflects the current market assessments of time value of
 money and the risks specific to the asset
 
 If such recoverable amount of the asset or the recoverable amount of
 the cash-generating unit to which the asset belongs is less than its
 carrying amount, the carrying amount is reduced to its recoverable
 amount. The reduction is treated as an impairment loss and is
 recognised in the Profit & Loss Account. Reversal of impairment loss is
 recognised as income in the Profit and Loss Account.
 
 f.  Investments
 
 In accordance with Accounting Standard 13 issued by the Institute of
 Chartered Accountants of India, Long Term Investments are stated at
 cost less other than temporary dilution in the value of such
 investments.  Current investments are carried at lower of cost or fair
 value.
 
 g.  Leases (where the Company is the lessee)
 
 Leases where the lessor effectively retains substantially all the risks
 and benefits of ownership of the leased term, are classified as
 operating leases. Operating lease payments are recognized as an expense
 in the Profit and Loss account on a straight-line basis over the lease
 term.
 
 h.  Use of Estimates
 
 The preparation of financial statements in conformity with Generally
 Accepted Accounting Principles (GAAP) requires management to make
 estimates and assumptions that affect the reported amounts of assets
 and liabilities and the disclosure of contingent liabilities as at the
 date of the financial statements and reported amounts of revenues and
 expenses during the reporting period. Actual results could differ from
 these estimates.  Any revision to accounting estimates is recognised
 prospectively in the current and future periods.
 
 i.  Employee benefits
 
 i. The Company''s Employees Provident Fund scheme is a defined
 contribution plan. The Company''s contribution to the Employees''
 Provident Fund is charged to the profit and loss account during the
 period in which the employee renders the related service.
 
 ii. Short term employee benefits (Medical, Leave Travel allowance,
 etc.) expected to be paid in exchange for the services rendered is
 recognised on undiscounted basis.
 
 iii. The Company provides for gratuity, a defined benefit retirement
 plan (the Gratuity Plan) covering eligible employees. In accordance
 with the Payment of Gratuity Act, 1972, the Gratuity Plan provides for
 a lump sum payment to vested employees at retirement, death,
 incapacitation or termination of employment, of an amount based on the
 respective employee''s salary and the tenure of employment.
 
 The present value of the obligation under such defined benefit plan is
 determined based on actuarial valuation using the projected unit credit
 method, which recognises each period of service as giving rise to
 additional unit of employee benefit entitlement and measures each unit
 separately to build up the final obligation. The obligation is measured
 at the present value of the estimated future cash flows. The discount
 rate used for determining the present value of the obligation is based
 on the market yields on government securities as at the balance sheet
 date. Actuarial gains/losses are recognised immediately in the profit
 and loss account.
 
 The liability with respect to the Gratuity Plan is determined based on
 actuarial valuation done by an independent actuary at the period end
 and any differential between the fund amount as per the insurer and the
 actuarial valuation is charged to revenue.
 
 iv. Benefit comprising Long term compensated absences constitutes other
 long term employee benefits.  The liability for compensated absence is
 determined using the Projected Unit Credit Method, on the basis of an
 actuarial valuation at the period end. Actuarial gains and losses are
 recognised immediately in the profit and loss account.
 
 j.  Transactions in foreign exchange
 
 Transactions in foreign currencies are recorded at the exchange rate
 prevailing on the date of the transaction.  Exchange differences on
 foreign exchange transactions settled during the period are recognised
 in the Profit and Loss account.
 
 Monetary items denominated in foreign currency and outstanding at the
 balance sheet date are translated at the exchange rate ruling on that
 date.
 
 k.  Income Tax
 
 Income tax comprises current tax and deferred tax. Current tax is
 determined in accordance with the provisions of Income Tax Act, 1961.
 Advance taxes and provisions for current taxes are presented in the
 balance sheet after off setting advance taxes paid and income tax
 provisions.
 
 Deferred tax charge or credit is recognised on timing differences being
 the difference between taxable incomes and accounting income that
 originate in one period and are capable of reversal, subject to
 consideration of prudence, in one or more subsequent periods. Deferred
 tax assets and liabilities are measured using the tax rates and tax
 laws that have been enacted or substantively enacted by the balance
 sheet date.
 
 Minimum alternate tax (MAT) paid in accordance with Income Tax Act,
 1961, which gives rise to future economic benefit in the form of
 adjustment from income tax liability, is recognised when it is certain
 that the Company be able to set off the same and adjusted from the
 current tax charge for that period.
 
 l.  Earnings per Share
 
 The company reports basic and diluted earnings per share in accordance
 with AS 20 on Earnings per Share.  Basic earnings per equity share have
 been computed by dividing the Net Profit (Loss) after tax by the
 weighted average number of equity shares outstanding during the period.
 Diluted earning per share is computed using the weighted average number
 of equity shares and dilutive potential equity shares outstanding
 during the period except where the result would be anti-dilutive.
 
 m.  Accounting for Employee Share based payments
 
 Measurement and disclosure of the employee share based payment plans is
 done in accordance with the Guidance Note on Accounting for Employee
 Share-based Payments, issued by the Institute of Chartered Accountants
 of India (ICAI). The Company measures compensation cost relating to
 employee stock options using the intrinsic value method. Compensation
 expense is amortised on a straight line basis/graded basis over the
 vesting period of the stock option/award. Modifications to stock
 option/award schemes are effected in line with the Guidance Note on
 Accounting for Employee Share-based Payments, issued by ICAI.
 
 n.  Provisions and contingencies
 
 A provision is recognised when the Company has a present obligation as
 a result of a past event, when it is probable that an outflow of
 resources embodying economic benefits will be required to settle the
 obligation and reliable estimate can be made of the amount of the
 obligation. A contingent liability is recognised where there is a
 possible obligation or a present obligation that may, but probably will
 not, require an outflow of resources.