| 1. Basic of Accounting
The financial statements have been prepared in accordance with
generally accepted accounting principles in India (Indian GAAP) under
the historical cost convention on an accrual basis incompliance with
all material aspect of the Accounting Standard (AS) notified under
section 133 of the Companies Act, 2013 read together with paragraph 7
of the Companies (Accounts) Rules 2014. The accounting policies have
been consistently applied by the company and are consistent with those
used in the previous year, except for the change in accounting policy
explained in paragraph II below.
All assets and liabilities have been classified as current or
non-current as per the company's normal operating cycle, and other
criteria set out in the Schedule III to the Companies Act, 2013. Based
on the nature of products and the time between the acquisition of
assets for processing and their realisation in cash and cash
equivalents, the company has ascertained its operating cycle as up to
twelve months for the purpose of current/non-current classification of
assets and liabilities.
2. Revenue and Transaction Recognition
Revenue and Transactions with Stock Exchanges were recognized only for
completed settlements
3. Fixed Assets
Fixed Assets are stated at cost inclusive of incidental expenses such
as freight, octroi etc, incurred by the company. The installation and
commissioning expenses are also capitalized.
4. Related Party Disclosure:
Name of Related parties and description of relationship
Key Management Personnel : Mr. Pratik Bhatt, Managing Director Director
: Mr. Manoj Kumar More, Non-Executive Independent Directc : Mr.
Devendra Sharma, Non-Executive Independent Director : Mr. Avinash
Kumar, Non-Executive Independent Director : Mr. Sunil Sharma,
Non-Executive Independent Director : Mr. Kalpesh Madhvi, Non-Executive
Independent Director : Mrs. Malti Bhatt, Non-Executive Independent
Director
5. 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.
6. Previous year figures
Previous year figurers have been regrouped or rearranged wherever found
necessary.
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