The financial statements are prepared in accordance with Indian Generally Accepted Accounting Principles (GAAP) under the historical cost convention on accrual basis, in accordance with the applicable mandatory Accounting Standards as prescribed under Section 133 of the Companies Act, 2013 (Act') read with Rule 7 of the Companies (Accounts) Rule, 2014. As the standards of accounting or any addendum thereto are not yet prescribed by the Central Government in consultation with and recommendation of the National Financial Reporting Authority, the existing accounting standards notified under the Companies Act, 1956 shall continue to apply. As such, these financial statements have been prepared to comply in all material aspects with the accounting standards notified under Section 211 (3C) of the Companies Act, 1956, Companies (Accounting Standards) Rules, 2006, (as amended) and other relevant provisions of the Act. The Company is in the business of rendering various administrative and allied services. The Company has considered its operating cycle as 12 months and all assets and liabilities have been classified as current or non-current as per the criteria set out in Schedule III to the Companies Act, 2013

1.2 Use of Estimates :

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 disclosures relating to contingent assets and liabilities on the date of the financial statements and the reported amounts of revenues and expenses during the reported period. Differences between actual results and estimates are recognised in the period in which the results are known.

Changes in the estimates, if material, are reflected in the financial statements in the period in which changes are made and their effects are disclosed in the notes to the financial statements.

1.3 Recognition of Revenue and Expenditure :

a. Income from rendering of services and related expenses are recognised on accrual basis in the year in which the services are rendered.

b. Dividend income is recognised in the year in which the right to receive dividend is established.

1.4. Employee Benefits :

a. Short term employee benefits are recognised as an expense at the undiscounted amount in the Statement of Profit and Loss of the year in which the related services are rendered;

b. Post employment benefits:

Defined Benefit Plans:

-Gratuity

The present value of the obligation is determined based on an actuarial valuation at the close of the year using the Projected Unit Credit Method.

Actuarial gains and losses arising on such valuation are recognized immediately in the Statement of Profit and Loss. In the case of gratuity which is funded with the Life Insurance Corporation of India, fair value of the Plan Assets , is reduced from the gross obligation under the Defined Benefit Plans, to recognize the obligation on a net basis;

Provident Fund

Monthly contributions are made to a Trust, constituted for the benefit of the employees. The interest rate payable by the Trust to the beneficiaries is notified by the Government. The Company has an obligation to make good the shortfall, if any, between the return on investments of the Trust and the notified interest rate.

c. Long term compensated absences are provided on the basis of an actuarial valuation, using the Projected Unit Credit Method.

d. Termination Benefits are recognised as an expense in the Statement of Profit and Loss of the year in which they are incurred.

1.5 Fixed Assets and Depreciation:

a. Fixed Assets:

Fixed Assets are carried at cost of acquisition / book value less accumulated depreciation / amortisation. Costs include all expenses incurred to bring the assets to its present location and condition.

b. Depreciation/Amortisation:

i. Depreciation is provided on Straight Line Method, in accordance with Schedule II to the Act. The useful lives of the assets for computing depreciation are as per Schedule II of the Act.

ii. Depreciation on additions to assets or on sale/disposal of assets is calculated pro-rata from the day of such addition or upto the day of such sale/disposal as the case may be.

iii. Cost of computer software is amortised over a period of three years.

1.6 Investments:

Investments are classified into Non Current and Current Investments. Non Current Investments are stated at cost of acquisition. Diminution, if any, in the value of Non Current Investments, other than temporary, is provided for each investment individually. Current Investments are stated at lower of cost and market value/ net realisable value.

1.7 Borrowing Costs:

Interest and other borrowing costs attributable to qualifying assets are capitalized. Other interest and borrowing costs are charged to revenue.

1.8 Taxation:

Income-tax expense comprises Current tax and Deferred tax charge or credit.

a) Provision for current tax is made on the assessable income at the tax rate applicable to the relevant assessment year. Minimum Alternate Tax (MAT) eligible for set off in subsequent years, (as per tax laws) is recognized as an asset by way of credit to the Statement of Profit and Loss only if there is convincing evidence of its realisation. At each balance sheet date, the carrying amount of MAT Credit Entitlement receivable is reviewed to reassure realisation.

b) Deferred Tax is recognized on timing difference between taxable income and accounting income that originated in one period and are capable of reversal in one or more subsequent period(s). The Deferred Tax Asset and Deferred Tax Liability is calculated by applying tax rate and tax laws that have been enacted or substantively enacted by the Balance Sheet date. Deferred Tax Assets arising on account of brought forward losses and unabsorbed depreciation under tax laws are recognised only if there is a virtual certainty of its realisation supported by convincing evidence. Deferred Tax Assets on account of other timing differences are recognised only to the extent there is a reasonable certainty of its realisation. At each Balance Sheet date, the carrying amount of Deferred Tax Assets is reviewed to reassure realisation.

1.9 Impairment of Assets:

The Company, at each balance sheet date, assesses whether there is any indication that an individual asset or group of assets constituting a Cash Generating Unit (CGU) may be impaired. Provision for impairment loss is recognised where the recoverable amount of an asset or a CGU, is less than its carrying amount. Provisions for impairment losses recognised in earlier years, if any, are further reviewed at each balance sheet date and adjusted for changes in the estimated recoverable amount of asset / CGU.

1.10 Provisions, Contingent Liabilities and Contingent Assets :

Provisions involving a 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 and reliable estimate of the amount of the obligation can be made. Contingent Liabilities are not recognized and are disclosed in the notes. Contingent Assets are neither recognised nor disclosed in the financial statements.

1.11 Cash Flow Statement:

Cash flows are reported using the Indirect Method, whereby profit/ (loss) before tax is adjusted for the effects of transactions of non-cash nature and any deferrals or accruals of past or future cash receipts or payments. The cash flows from operating, investing and financing activities of the Company are segregated based on the available information

1.12 Cash and Cash Equivalents :

Cash and cash equivalents comprise cash and cash on deposit with banks. The Company considers all highly liquid investments with a remaining maturity at the date of purchase of three months or less and that are readily convertible to known amounts of cash to be cash equivalents.

1.13 Earnings Per Share:

Basic earnings per share are calculated by dividing the net profit or loss for the year attributable to the equity shareholders by the weighted average number of equity shares outstanding during the year. For the purpose of calculating diluted earnings per share, 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.