(a) Basis of Preparation of financial statements: -
 
 The financial statements of the Company have been prepared in
 accordance with generally accepted ac- counting principles in India
 (Indian GAAP) The Company has prepared these financial statements to
 comply in all material respects with the accounting standards notified
 under the Companies (Accounting Standards) Rules, 2006, (as amended)
 and the relevant provisions of the Companies Act, 1956. The financial
 statements have been prepared on an accrual basis and under the
 historical cost convention.
 
 (b) Use of Estimates:-
 
 The preparation of financial statements in conformity with generally
 accepted accounting principles requires estimates and assumptions to be
 made that affect the reported amount of assets and liabilities on the
 date of the financial statements and the reported amount of revenues
 and expenses during the reporting period.  Although these estimates are
 based upon management''s best knowledge of current events and action,
 actual results could differ from these estimates.
 
 (c) Accounting of Income/ Expenditure
 
 All Income/ Expenditure items having a material bearing on the
 financial statements are recognized on accrual basis, unless
 otherwise stated.
 
 (d) All the assets and liabilities have been classified as current or
 non- current as per the Company''s normal operating cycle and other
 criteria set out in the schedule VI to the Companies Act, 1956. Based
 on the nature of business operations, the Company has ascertained its
 operating cycle as 12 months for the purpose of current or non-current
 classification of assets and liabilities.
 
 (e) Fixed Assets
 
 Fixed Assets have been carried at historical cost.
 
 (f) Depreciation
 
 Depreciation on Fixed Assets is provided on straight line method in
 accordance with Section 205(2)(b) of the Companies Act, 1956, as per
 rates specified in Schedule XIV to the Companies Act, 1956.
 
 (g) Investments
 
 Long Term Investments have been shown at cost price.
 
 (h) Stock in Trade
 
 Stock in trade is valued at cost or Market value whichever is lower.