a) The books of accounts are maintained on accrual basis.
 
 b) Dividend Income in the books is accounted when right to receive the
 payment is established
 
 c) Fixed Assets are stated at historical cost.
 
 d) Depreciation has been provided on Written down value method at the
 rates specified in schedule XIV of the Companies Act, 1956.
 
 e) Long Term Investments are stated at cost. Cost is determined on
 average method.
 
 f) Stock in Trade quoted (Shares & debentures) are shown at Cost or
 Market value whichever is lower.
 
 g) Stock in Trade unquoted (Shares & debentures) are shown at Cost.  
 
 h) Taxation
 
 i.  Income-tax expenses comprise current tax and deferred tax charge or
 credit
 
 ii. The deferred tax asset and deferred tax liability is calculated by
 applying tax rate and tax loss that have been enacted or substantially
 enacted by the Balance Sheet date.
 
 iii. Deferred tax assets arising mainly on account of brought forward
 losses and unabsorbed depreciation under tax laws, are recognised, only
 if there is a virtual certainly of its realisation, supported by
 convincing evidence. Deferred tax assets on account of other timing
 differences are recognised only to the extent there is a reasonable
 certainty of its realisation.
 
 iv.  At each Balance Sheet date, the carrying amount of deferred tax
 assets is reviewed to reassure realisation.