1.  Basis of Accounting / Preparation:
 
 The consolidated financial statements (CFS) relate to Vision Technology
 India Limited, (hereinafter referred to as the Company) and its
 Subsidiary Pyramid Entertainment India Private Limited (with effect
 from 11 -06-2011) (hereinafter referred as the Group).
 
 The accounts of the Group are prepared and presented under the
 historical cost convention on the accrual basis of accounting in
 accordance with the accounting principles generally accepted in India
 (GAAP) and comply with the mandatory accounting standards notified by
 the Central Government of India under the Companies (Accounting
 Standards) Rules, 2006 and with the relevant provisions of the
 Companies Act, 1956.
 
 The preparation of financial statements in conformity with GAAP
 requires management to make estimates and assumptions that affect the
 reported amounts of assets and liabilities and disclosure of contingent
 liabilities at the date of financial statements and the results of
 operations during the reporting periods. Management believes that the
 estimates used in the preparation of the consolidated financial
 statements are prudent and reasonable.  Actual results could vary from
 these estimates. Any revision to accounting estimates is recognised in
 the period in which such results are known / materialized.
 
 2.  Principles of Consolidation:
 
 (a) The consolidated financial statements of Vision Technology India
 Limited together with audited financial statements of its subsidiary
 have been considered for the purpose of consolidation.
 
 (b) The financial statements of the parent company and its subsidiary
 have been combined to the extent possible on a line by line basis by
 adding together like items of assets, liabilities, income and expenses.
 The results of the subsidiaries acquired or disposed off during the
 year are included in the consolidated profit and loss account from the
 effective date of the acquisition or upto the effective date of
 disposal as appropriate. All significant intra-group blances and
 transactions have been eliminated on consolidation. The amounts shown
 in respect of reserves comprise the amount of relevant reserves as per
 the balance sheet of the parent company and its shares in the post
 acquisition change in the relevant reserves of the subsidiaries.
 
 (c) The consolidated financial statements have been prepared using
 uniform accounting policies for like transactions and other events in
 similar circumstances and are presented to the extent possible, in the
 same manner as the parent company''s financial statements.
 
 (d) Minority interest in the net income and in the net asset of the
 consolidated financial statements are computed and shown separately.
 Losses applicable to minority in excess of the minority interest in the
 subsidiaries equity are allocated against the interest of the group.
 
 (e) Unamortized carrying value of the goodwill is tested for impairment
 as at each balance sheet date.
 
 (f) The Subsidiary Company considered in the Consolidated Financial
 statements is:
 
 3.  Use of Estimates:
 
 The preparation of financial statements in conformity with generally
 accepted accounting principles requires management to make estimates
 and assumptions that affect the reported amounts of assets and
 liabilities and disclosure of contingent liabilities at the date of the
 financial statements and the results of the operations during the
 reporting period.  Although these estimates are based upon
 management''s best knowledge of current events and actions, actual
 results could differ from these estimates.
 
 4.  Fixed Assets:
 
 - Fixed Assets are stated at cost of acquisition plus subsequent
 improvements thereto including taxes, duties, freight and other
 incidental expenses related to acquisition and installation, including
 finance charges which are directly attributable to the fixed assets
 less accumulated depreciation and impairment loss.
 
 - Capital Work in Progress comprises of the cost of fixed assets that
 are not put to use as at the Balance Sheet date and advance paid
 towards acquisition of Fixed Assets and relevant financial charges
 incurred thereon.
 
 - The excess of cost to the Company of its investments in the
 subsidiary Company over its share of the equity of the subsidiary
 Company, at the dates on which the investments in the subsidiary
 Company was made, is recognised as Goodwill being an asset in the
 consolidated financial statement
 
 Depreciation:
 
 - Depreciation on Fixed Assets is provided using Written Down Value
 method at the rates prescribed under Schedule XIV of the companies Act,
 1956 oh proportionate basis.
 
 - Cost of assets wherever less than Rs. 5000 is written off fully in
 the year of purchase.
 
 5.  Impairment of Assets:
 
 The Company assesses at each Balance Sheet date, whether there is any
 indication that an asset including Goodwill may be impaired based on
 internal/external factors. If any such indication exists, the Company
 estimates the recoverable amount of the asset. An impairment loss is
 recognized wherever the carrying amount of an asset exceeds its
 recoverable amount. The recoverable amount is the greater of the
 asset''s net selling price and value in use. In assessing value in
 use, the estimated future cash flows are discounted to their present
 value at the weighted average cost of capital. s
 
 6.  Leases:
 
 Leases where the lessor effectively retains substantially all the risks
 and benefits of ownership of the leased term are classified as
 operating leases. Operating lease payments are recognized as an expense
 in the Profit and Loss Account on a straight-line basis over the lease
 term. Initial direct costs incurred specifically to earn revenues from
 an operating lease are deferred and allocated to income over the lease
 term in proportion to the recognition of rent income or are recognised
 as in expense in the statement of profit and loss in the period in
 which they are incurred.
 
 7.  Inventory Valuation:
 
 The Company has not carried any stock during and as at the end of the
 year and hence the question of valuation of inventories does not arise.
 
 8.  Investments:
 
 Investments that are readily realizable and intended to be held for not
 more than a year are classified as current investments. All other
 investments are classified as long term investments. Long term
 investments are carried at cost. However, provision for diminution in
 value is made to recognize a diminution other than temporary in the
 value of investments.
 
 9.  Revenue Recognition:
 
 Screening Income:
 
 In cases where the Company has a formal contract with the advertiser or
 advertising agency, revenue is recognized as specified in the contract.
 
 In other cases, revenue is recognized after completion of screening of
 related advertisement.
 
 Share of revenue from food court outlets:
 
 Incomes from above outlets are generally recognized on a monthly basis
 or otherwise as per the agreement entered into with the client.
 
 Ticket collections are recognized as and when the tickets are sold to
 the customers.
 
 Project Management/Development Income:
 
 Income is recognized as and when the bill is raised.  ''
 
 11.  Employee Benefits:
 
 In respect of Parent Company:
 
 - Provident Fund: The Company has not made any contributions towards
 such funds, as the provisions of the said act are not applicable.
 
 - Gratuity: The Company has not made provision for Gratuity as none
 of the employees currently employed with the company have met the
 criteria as defined under the Gratuity Act of 1972.
 
 - Leave Encashment: The Company does not have any policy for
 encashment of leave.  Hence the company has not made any provision for
 leave encashment.
 
 In respect of Indian Subsidiaries:
 
 - Provident Fund: Eligible employees receive benefits from a
 Provident Fund, which is a defined contribution plan. Aggregate
 contributions along with interest thereon, are paid at retirement,
 death, incapacitation or termination of employment. Both the employee
 and the Company make monthly contributions to the Government
 administered Provident Fund. The Company has no obligation beyond its
 contribution.
 
 - Gratuity: The Company has not made provision for Gratuity as none
 of the employees currently employed with the company have met the
 criteria as defined under the Gratuity Act of 1972.
 
 - Leave Encashment: The Company does not have any policy for
 encashment of leave.  Hence the company has not made any provision for
 leave encashment.
 
 12.  Borrowing Cost:
 
 Borrowing costs relating to acquisition of qualifying assets are
 capitalized until the time all substantial activities necessary to
 prepare the qualifying assets for their intended use are complete. A
 qualifying asset is one that necessarily takes substantial period of
 time to get ready for its intended use. All other borrowing costs not
 eligible for capitalization are charged to revenue.
 
 13.  Taxes:
 
 - Tax expense comprises of current and deferred tax. Current Income
 Tax is measured based on the tax liability computed after considering
 tax allowances and exemptions.
 
 - Deferred tax is recognized, subject to the consideration of
 prudence in respect of deferred tax assets, on timing differences,
 being the difference between taxable income and accounting income that
 originate in one period and are capable of reversal in one or more
 subsequent periods.
 
 - Deferred Tax assets are recognized only to the extent that there is
 reasonable certainty that sufficient future taxable income will be
 available against which such deferred tax assets can be realized.  „
 
 14.  Earnings per share:
 
 Basic earnings per share are calculated by dividing the net profit or
 loss for the year attributable to equity shareholders by the weighted
 average number of equity shares outstanding during the year.
 
 For the purpose of calculating diluted earnings per share, the net
 profit or loss for the year attributable to equity shareholders and the
 weighted average number of shares outstanding during the year are
 adjusted for the effects of all dilutive potential equity shares.
 
 15.  Contingent Liability:
 
 Provisions involving substantial degree of estimation in measurement
 are recognized, when there is a present obligation as a result of past
 events and it is probable that there will be an outflow of resources.
 Contingent liabilities are not recognized but are disclosed in the
 Notes. Contingent assets are neither recognized nor disclosed in the
 financial statements.