1 Basis of accounting and preparation of financial statements
The financial statements of the Company have been prepared in
accordance with the Generally Accepted Accounting Principles in India
(Indian GAAP) comply with the Accounting Standards notified under the
Companies (Accounting Standards} Rules, 2006 (as amended) and the
relevant provisions of tl Companies Act, 1956. The financial statements
have been prepared on accrual basis under the historical cost
convention except for categories of fixed assets acquired before 1
April. 2010, that are carried at revalued amounts. The accounting
policies adopted in the preparation of the financial statements a
consistent with those followed in the previous year.
2 Use of estimates
The preparation of the financial statements in conformity with Indian
GAAP requires the Management to make estimates and assumptions
considered the reported amounts of assets and liabilities (including
contingent liabilities) and the reported income and expenses during the
year. The Management believes that the estimates used in preparation of
the financial statements are prudent and reasonable. Future results
could differ due to these estimate and the differences between the
actual results and the estimates are recognized in the periods in which
the results are known / materialize. _
Revenue and expenses are recognized on their accrual including
provisions and/or adjustments for committed obligations and amounts
determined as payable and receivables during the
4 Foreign Currency Transaction
Foreign Currency Transaction are accounted for at the prevailing
foreign exchange rates at the time the transaction took place.
The company is not having any Fixed Assets.
The Unquoted Investments are stated at the purchase price plus expenses
i.e. brokerage. fees and duties etc. related with the purchases.
7 Impairment of Assets ''
If the carrying amount of fixed assets exceeds the recoverable amount
on the reporting date, the carrying amount is reduced to the
recoverable amount. The recoverable amount is measured as the higher of
the selling price and the value determined by the present value of
estimated future cash flows.
8 Fixed Assets
No Fixed Assets have been held by company.
Company Is not carrying any inventory
10 Disclosure under AS-15 (Revised) - Employee Benefits
There are no long Term Employees Benefits which require assessment of
future liability of the company as per AS-15 issued under the company
(Accounting Standards) Rules, 2006
11 Sundry Debtors, Loans and Advances and Sundry Creditors
In the opinion of the Board of Directors, the Current Assets, Loans and
Advances are approximately of the value stated if realized in the
course of business The provisions for all known liabilities are adequate
and not in excess of the amount reasonable required.
Balance of Sundry Creditors, Sundry Debtors and Loans & Advances are
subject to confirmation and reconciliation.
12 Earnings Per Share
The Company report Basic and Diluted earnings per share (EPS) in
accordance with Accounting Standard - 20 issued by the Institute of
Chartered Accountants of India. The Basic EPS has been computed by
dividing the income available to equity shareholders by the weighted
average number of equity shares outstanding during the accounting year
The Diluted EPS have been computed using the weighted average number of
equity shares and Diluted potential equity shares outstanding at the
end of the year.