| 1.Basic of Accounting
Financial Statements are prepared under historical costs conversations
on accrual basis in accordance with the requirements of the Companies
Act 1956
2. Revenue and Transaction Recognition
Revenue and Transactions with Stock Exchanges were recognized only for
completed settlements
3.Fixed Assets
Fixed assets are slated at cost inclusive of incidental expenses such
as freight, octopi etc, incurred by the company The installation and
commissioning expenses are also capitalized
4. Inventory
The securities available on hand as on 31-03-2011 where valued at cost
or market prices whichever is lower
5. Depreciation
Depreciation on Fixed Assets has been provided on "Straight Line
Method" as per Section 205(2) (b) of the Companies Act. 1956 at the
rates and in the manner specified in Schedule XIV of the said Act.
6. Investment
Investments represents the following shares at acquisition cost
7. Contingent Liabilities
There is no contingent liability 18 No employee is eligible for
Gratuity
8. Disclosure pursuant to AS-28 on Impairment of Assets
During the year, a review has been done for carrying value of the
assets for finding out the impairment, if any The review has not
revealed any impairment of assets in terms of AS -28
9. Deferred Tax
Deferred Tax is recognised on timing difference between accounting
income and taxable income for the period and reversal of timing
differences of earlier periods and quantified using the tax rates as at
the balance sheet date
10. Previous year figures
The revised schedule VI has become effective from 1st April 2011 for
the preparation of financial statements This has significantly impacted
the disclosure and presentation made in the financial statements.
Previous year figures have been regrouped / reclassified wherever
necessary to correspond to the current year's grouping /
classification.
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