Mar 31, 2014
ACCOUNTING POLICIES: The accounts are prepared on a historical cost
convention and materially comply with the mandatory accounting
standards issued by the Institute of Chartered Accountants of India.
The significant accounting policies followed by the company are as
stated below: -
i. Basis of accounting: The accounts have been prepared on the basis
of historical cost and accrual basis.
ii. Investments: Long term Investments are valued at cost of
acquisition and related expenses.
iii. Inventories: Inventories are valued at cost or market value
whichever is lower.
However, where the market quotations are not available, the same have
been valued at cost.
iv. Income Recognition: Interest Income on Non Performing Assets is
accounted for as and when realized in view of Guidelines issued by RBI
in respect of Non Banking Finance Company.
v. Income Tax: Tax expense comprises of current and deferred tax.
Current income tax is measured at the amount expected to be paid to the
tax authorities in accordance with the Income Tax Act. The company does
not made provision for deferred Tax assets or liability
vi. Earning Per Share: In accordance with the Accounting Standard 20 "
Earnings per Share " issued by the Institute of Chartered Accountants
of India , basic earnings per share is computed using the weighted
average number of shares outstanding during the year.
vii. Provisions And Contingent Liabilities: Provisions are recognized
when the Company has a legal and constructive obligation as a result of
past event, for which it is probable that a cash outflow will be
required and a reliable estimate can be made of the amount of the
obligation.
Contingent Liabilities are disclosed when the Company has a possible
obligation or a present obligation and it is probable that a cash
outflow will not be required to settle the obligation.
Mar 31, 2013
The accounts are prepared on a historical cost convention and materially
comply with the mandatory accounting standards issued by the Institute of
Chartered Accountants of India. The significant accounting policies
followed by the company are as stated below: -
i. Basis of accounting: The accounts have been prepared on the basis
of historical cost and accrual basis.
ii. Investments: Long term Investments are valued at cost of
acquisition and related expenses.
iii. Inventories: Inventories are valued at cost or market value
whichever is lower. However, where the market quotations are not
available, the same have been valued at cost.
iv. Income Recognition: Interest Income on Non Performing Assets is
accounted for as and when realized in view of Guidelines issued by RBI
in respect of Non Banking Finance Company.
v. Income Tax: Tax expense comprises of current and deferred tax.
Current income tax is measured at the amount expected to be paid to the
tax authorities in accordance with the Income Tax Act. The company does
not made provision for deferred Tax assets or liability
vi. Earning Per Share: In accordance with the Accounting Standard 20
" Earnings per Share " issued by the Institute of Chartered
Accountants of India , basic earnings per share is computed using the
weighted average number of shares outstanding during the year.
vii. Provisions And Contingent Liabilities: Provisions are recognized
when the Company has a legal and constructive obligation as a result of
past event, for which it is probable that a cash outflow will be
required and a reliable estimate can be made of the amount of the
obligation.
Mar 31, 2012
The accounts are prepared on a historical cost convention and
materially comply with the mandatory accounting standards issued by
the Institute of Chartered Accountants of India. The significant
accounting policies followed by the company are as stated below: -
i. Basis of accounting: The accounts have been prepared on the basis
of historical cost and accrual basis.
ii. Investments: Long term Investments are valued at cost of
acquisition and related expenses.
iii. Inventories: Inventories are valued at cost or market value
whichever is lower. However, where the market quotations are not
available, the same have been valued at cost.
iv. Income Recognition: Interest Income on Non Performing Assets is
accounted for as and when realized in view of Guidelines issued by RBI
in respect of Non Banking Finance Company.
v. Income Tax: Tax expense comprises of current and deferred tax.
Current income tax is measured at the amount expected to be paid to the
tax authorities in accordance with the Income Tax Act. The company does
not made provision for deferred Tax assets or liability
vi. Earning Per Share: In accordance with the Accounting Standard 20 "
Earnings per Share " issued by the Institute of Chartered Accountants
of India , basic earnings per share is computed using the weighted
average number of shares outstanding during the year.
vii. Provisions And Contingent Liabilities: Provisions are recognized
when the Company has a legal and constructive obligation as a result of
past event, for which it is probable that a cash outflow will be
required and a reliable estimate can be made of the amount of the
obligation.
Contingent Liabilities are disclosed when the Company has a possible
obligation or a present obligation and it is probable that a cash
outflow will not be required to settle the obligation.
Mar 31, 2011
1. ACCOUNTING POLICIES:
The accounts are prepared on a historical cost convention and
materially comply with the mandatory accounting standards issued by the
Institute of Chartered Accountants of India. The significant accounting
policies followed by the company are as stated below: -
i. Basis of accounting
The accounts have been prepared on the basis of historical cost and
accrual basis.
ii. Investments
Long term Investments are valued at cost of acquisition and related
expenses.
iii. Inventories
Inventories are valued at cost or market value whichever is lower.
However, where the market quotations are not available, the same have
been valued at cost.
iv. Income Recognition
Interest Income on Non Performing Assets is accounted for as and when
realized in view of Guidelines issued by RBI in respect of Non Banking
Finance Company.
v. Income Tax
Tax expense comprises of current and deferred tax. Current income tax
is measured at the amount expected to be paid to the tax authorities in
accordance with the Income Tax Act. The company does not made
provision for deferred Tax assets or liability
vi Earning Per Share
In accordance with the Accounting Standard 20 " Earnings per Share "
issued by the Institute of Chartered Accountants of India , basic
earnings per share is computed using the weighted average number of
shares outstanding during the year.
VII Provisions And Contingent Liabilities
Provisions are recognized when the Company has a legal and constructive
obligation as a result of past event, for which it is probable that a
cash outflow will be required and a reliable estimate can be made of
the amount of the obligation. Contingent Liabilities are disclosed when
the Company has a possible obligation or a present obligation and it is
probable that a cash outflow will not be required to settle the
obligation.
Mar 31, 2010
The accounts are prepared on a historical cost convention and
materially comply with the mandatory accounting standards issued by the
Institute of Chartered Accountants of India. The significant accounting
policies followed by the company are as stated below: -
i. Basis of accounting
The accounts have been prepared on the basis of historical cost and
accrual basis.
ii. Investments
Long term Investments are valued at cost of acquisition and related
expenses.
iii. Inventories
Inventories are valued at cost or market value whichever is lower.
However, where the market quotations are not available, the same have
been valued at cost.
iv. Income Recognition
Interest Income on Non Performing Assets is accounted for as and when
realized in view of Guidelines issued by RBI in respect of Non Banking
Finance Company.
v. IncomeTax
Tax expense comprises of current and deferred tax.
Current income tax is measured at the amount expected to be paid to the
tax authorities in accordance with the Income Tax Act.
The company does not made provision for deferred Tax assets or
liability
vi Earning Per Share
In accordance with the Accounting Standard 20 " Earnings per Share "
issued by the Institute of Chartered Accountants of India , basic
earnings per share is computed using the weighted average number of
shares outstanding during the year.
VII Provisions And Contingent Liabilities
Provisions are recognized when the Company has a legal and constructive
obligation as a result of past event, for which it is probable that a
cash outflow will be required and a reliable estimate can be made of
the amount of the obligation.
Contingent Liabilities are disclosed when the Company has a possible
obligation or a present obligation and it is probable that a cash
outflow will not be required to settle the obligation.