A.  Basis of Preparation of Financial Statements

The financial statements have been brpared in compliance with all material aspects of the mandatory Accounting Standards issued by the ICAI and the relevant provisions of the Companies Act, 1956.

Financial Statements are based on historical cost and are brpared on accrual basis.

B.  Use of Estimates

The brparation of financial statements requires estimates and assumptions to be made that affect the reported amount of assets and liabilities on the date of the financial statements and the reported amount of revenues and expenses during the reporting year. Difference between the actual results and estimates are recognized in the year in which the results are known/ materialized.

C.  Fixed Assets

      There is no Fixed Assets held by the company.

D.  Investments

Current unquoted Investments are stated at Book Value.

E.  Basis of Accounts

Revenue/Income and costs/expenditures are generally accounted on accrual as they are earned or incurred.

F.  Tax on Income

Current Tax is determined on the basis of the amount of tax payable in respect of taxable income for the year. There is no amount of transaction for which Deferred tax Asset/Liability is to be determined and so Company has not made provision for that.

G.  Other Income

Other Income consists of  Commission Income, Dividend Income and Interest Income .

H. Contingent Liabilities

Provision is made for all known liabilities and contingent liabilities if any, are disclosed in the account by way of note.

I.  Cash Flow Statement            Cash flows are reported using the indirect method, whereby profit/(loss) before extraordinary items and tax is adjusted for the effects of transaction 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 on the available information.