A) Basis of Accounting :
The financial statements are prepared under historical cost convention
on accrual basis and are in accordance with the requirements of the
Companies Act, 1956.
B) Depreciation :
Depreciation for the year is provided on the Straight Line Method at
the rate and in the manner specified in Schedule XIV to the Companies
C) Retirement Banefits to Employees :
Gratuity liability has been provided for on the basis of last salary
drawn with number of completed years of service by employees.
D) Investments :
Investments are valued at cost as they are held on long term basis.
Hence no provision for diminution in the value of investment has been