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
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
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.