Basis for preparation of Financial Statements
 
 The financial statements are prepared under the historical cost
 convention in accordance with the generally accepted in accounting
 principles in India including the mandatory accounting standards issued
 by The Institute of Chartered Accountants of India (ICAI) and referred
 to in Section 211 (3C) of The Companies Act, 1956 (The Act). The
 significant accounting policies are as follows :
 
 REVENUE RECOGNITION
 
 Income and expenditure are recognized on accrual basis and works
 contract income is recognized upon completion of work/Contract.
 Dividend income is recognized as and when received.
 
 DEPRECIATION
 
 Depreciation on fixed assets is provided on written down value.
 
 LOANS TO COMPANIES/FIRMS
 
 There are no loans given by the Company.
 
 MISCELLANEOUS EXPENDITURE
 
 The company does not have any preliminary expenses.
 
 PROVIDENT FUND
 
 The Company is not covered under The Provident Fund Act.
 
 PRIOR PERIOD ITEMS
 
 Prior period items having material impact on the financial affairs of
 the company have been disclosed.
 
 OTHER ACCOUNTING POLICIES
 
 These are consistent with generally accepted accounting policies.