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Pasupati Fincap
BSE: 511734|ISIN: INE527C01010|SECTOR: Finance - Investments
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« Mar 11
Accounting Policy Year : Mar '12
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 Recognition
 
 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
 period.
 
 
 4 Foreign Currency Transaction
 
 Foreign Currency Transaction are accounted for at the prevailing
 foreign exchange rates at the time the transaction took place.
 
 5 Depreciation
 
 The company is not having any Fixed Assets.
 
 6 Investments
 
 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.
 
 9 Inventory
 
 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.
Source : Dion Global Solutions Limited
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