1. Basis of preparation of financial statements.
 
 Accounts are drawn up on the principle of going concern concept with
 revenues recognized basis and in accordance with the provisions of the
 Companies Act, 1956.
 
 2. Fixed assets - The Company has no fixed assets.
 
 3. The Company has made investments in securities and are valued at
 cost.
 
 4. Inventories - There is no stock in trade.
 
 5. Revenue recognition - All revenue are generally recognised on
 accrual basis. Revenue in respect of interest is recognised only when
 it is reasonably certain that the ultimate collection will be made.
 
 6. Retirement benefits - Liability in respect of gratuity to employees
 is accounted for as and when paid.