i) Basis of accounting:
 
 Generally mercantile system of accounting is followed except as stated
 in (V) below.
 
 ii) Investments:
 
 a) Investments being long term in nature are valued at cost of
 acquisition and related expenses such as brokerage and stamp duties.
 
 b) Temporary diminution in value of investment are not provided for
 
 iii) Revenue recognition:
 
 a) Interest income is recognized on a time proportion basis depending
 upon amount outstanding and the rate applicable.
 
 b) Dividend Income is treated on receipt basis.
 
 c) Service income is recognized on completion of service rendered.