1 Accounting Convention :- The financial statements are prepared under
 the historical cost convention in accordance with applicable mandatory
 accounting standards and relevant presentational requirements of the
 Companies Act, 1956.
 
 2 Fixed Assets :- Fixed Assets are stated at cost less accumulated
 depreciation.
 
 3 Depreciation :- Depreciation on Fixed Assets has been provided on
 Written Down Value method at the rates and in the manner specified in
 Schedule XIV to the Companies Act, 1956.
 
 4 Preliminary and Share Issue Expenses :- The preliminary and share
 issue expenses will be amortised on commencement of commercial
 activities.
 
 5 Gratuity and Accumulated Leave :- Considering the financial position
 of the company, the gratuity and leave encashment are accounted for as
 and when due.
 
 6 Income Recognition :- The income is recognised on accrual basis.