1. In the opinion of the management, the current Assets, Loans, and
advances are not less than value stated If realized in ordinary course
of business. The provision for known liabilities are adequate and not
in excess of amount reasonably necessary. There is no contingent
liability as informed by the management.
2. Accounting Policies;
a) The financial Statements have been prepared in accordance with
generally accepted accounting principles as well as the requirements of
the companies Act, 1956. The accounts have been prepared under the
historic cost convention and on accrual basis.
b) The company has no fixed assets so the question of valuation does
c) Long term investments are stated at cost because provision for
permanent diminution in value of such investment is not significant.
e) The Company has no deferred tax liability.