1.1 Basis of Accounting: The Financial Statements have been prepared in
 accordance with Generally Accepted Accounting Principles (GAAP) in
 India, the Accounting Standards prescribed under the Companies
 (Accounting Standards) Rules 2006 and the relevant provisions of the
 Companies Act, 1956 and are based on the historical cost convention on
 accrual basis.
 
 1.2 Use of Estimates: The preparation of financial statements in
 conformity with GAAP requires the management to make estimates and
 assumptions that affect the reported amounts of assets and liabilities,
 disclosure of contingent assets and liabilities at the date of
 financial statements and the reported amount of revenues and expenses
 during the reporting period. Actual results could differ from these
 estimates. Any revision to accounting estimates is recognized
 prospectively in current and future periods.
 
 1.3 Investments:
 
 Long term investments are stated at cost. Provision, if any, is made
 for permanent diminution in the value of investments.
 
 Current investments are stated at lower of cost or market value.
 
 Dividend/interest are accounted for as and when right to receive the
 same is established.
 
 1.4 Taxation: Provision are made for current tax based on tax liability
 computed in accordance with relevant tax rates and tax laws.
 
 1.5 Earning per Share: Basic earning per Share is computed by dividing
 the net profit attributable to equity shareholders for the year by
 weighted average number of equity shares outstanding during the year.