Accounting Policies of Dhruva Capital Services Ltd. Company

Mar 31, 2015

(i) (a) The Financial accounts unless otherwise stated are prepared at historical cost under accrual method of accounting.

(b) The accounting policies unless otherwise separately stated are in confirmity with generally accepted accounting principles & Accounting Standards as issued by ICAI.

(ii) . REVENUE RECOGNITION :

(a) Income of Non performing assets has been recognised as and when received (as per prudential norms of RBI).

(b) Income from dividend is recognised on cash basis.

(c) Lease rental received (if any) is accounted as income and is not bifurcated in interest income and principal amount repayment as required by Accounting Standards - 19 "Accounting for Lease" of ICAI in respect of Financial Lease as none of the lease agreement have been entered on or after 1.4.2001 when the said Accounting Standard became applicable.

(iii) . INVESTMENT:

Investment is classified into current investment & long term investment.

Long term investments are valued at cost and provision will be made for permanent dimunition in value of such investment.

Current investments are valued scrip wise at cost or market price whichever is lower.

(iv) . FIXED ASSETS AND DEPRECIATION :

(a) Fixed assets are stated at cost (including capitalised interest, if any) less depreciation.

(b) Depreciation on owned assets is provided on Straight Line method at the rate prescribed in Schedule II of Companies Act, 2013.

(c) All assets given on finance lease, on or before 31st March, 2001 are capitalised as fixed assets & depreciation on leases assets is provided on flat rates spread over the lease period as per the lease agreement or at the rate prescribed under Schedule II of Companies Act, 2013 whichever is higher.

(d) Depreciation on additions made is provided on pro rata basis from the date of their use.

(v) . PROVISION AGAINST LOANS AND OTHER CREDIT FACILITIES :

Provision on Non Performing Assets has been provided as per the prudential norms issued by the RBI.

(vi) . RETIREMENT BENEFITS :

The provision of gratuity are not applicable to the Company.

(vii) . PRIOR PERIOD ADJUSTMENT :

Prior period expenses / income (if any) are shown seperately in the Profit & Loss A/c.

(viii) TAXES ON INCOME :

Current tax is determined in accordance with the provisions of the Income Tax Act 1961, as the amount of tax payable in respect of taxable income for the year.

Deferred tax is recognized for all timing differences. Deferred tax assets are carried forward to the extent it is probable that future taxable profit will be available against which such deferred tax assets can be realized. Deferred tax assets are reviewed at each balance sheet.

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Mar 31, 2014

(i) (a) The Financial accounts unless otherwise stated are prepared at historical cost under accrual method of accounting.

(b) The accounting policies unless otherwise separately stated are in conformity with generally accepted accounting principles & Accounting Standards as issued by ICAI.

(ii) REVENUE RECOGNITION:

(a) Income of Non performing assets has been recognised as and when received (as per prudential norms of RBI).

(b) Income from dividend is recognised on cash basis.

(c) Lease rental received (if any) is accounted as income and is not bifurcated in interest income and principal amount repayment as required by Accounting Standards - 19 "Accounting for Lease" of ICAI in respect of Financial Lease as none of the lease agreement have been entered on or after 1.4.2001 when the said Accounting Standard became applicable.

(iii) INVESTMENT:

Investment is classified into current investment & long term investment.

Long term investments are valued at cost and provision will be made for permanent dimunition in value of such investment.

Current investments are valued scrip wise at cost or market price whichever is lower.

(iv) FIXED ASSETS AND DEPRECIATION:

(a) Fixed assets are stated at cost (including capitalised interest, if any) less depreciation.

(b) Depreciation on owned assets is provided on Straight Line method at the rate prescribed in Schedule XIV of Companies Act, 1956.

(c) All assets given on finance lease, on or before 31st March, 2001 are capitalised as fixed assets & depreciation on leases assets is provided on flat rates spread over the lease period as per the lease agreement or at the rate prescribed under Schedule XIV of Companies Act, 1956 whichever is higher.

(d) Depreciation on additions made is provided on pro rata basis from the date of their use.

(v) PROVISION AGAINST LOANS AND OTHER CREDIT FACILITIES:

Provision on Non Performing Assets has been provided as per the prudential norms issued by the RBI.

(vi) RETIREMENT BENEFITS:

The provision of gratuity are not applicable to the Company.

(vii) PRIOR PERIOD ADJUSTMENT:

Prior period expenses/income (if any) are shown separately in the Profit & Loss A/c.

(viii) TAXES ON INCOME:

Current tax is determined in accordance with the provisions of the Income Tax Act 1961, as the amount of tax payable in respect of taxable income for the year.

Deferred tax is recognized for all timing differences. Deferred tax assets are carried forward to the extent it is probable that future taxable profit will be available against which such deferred tax assets can be realized. Deferred tax assets are reviewed at each balance sheet.

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Mar 31, 2013

(i). (a) The Financial accounts unless otherwise stated are prepared at historical cost under accrual method of accounting.

(b) The accounting policies unless otherwise separately stated are in conformity with generally accepted accounting principles & Accounting Standards as issued by ICAI.

(ii). REVENUE RECOGNITION :

(a) Income of Nonperforming assets has been recognized as and when received (as per prudential norms of RBI).

(b) Income from dividend is recognized on cash basis.

(c) Lease rental received (if any) is accounted as income and is not bifurcated in interest income and principal amount repayment as required by Accounting Standards - 19 "Accounting for Lease" of ICAI in respect of Financial Lease as none of the lease agreement have been entered on or after 1.4.2001 when the said Accounting Standard became applicable.

(iii). INVESTMENT:

Investment is classified into current investment & long term investment.

Long term investments are valued at cost and provision will be made for permanent diminution in value of such investment.

Current investments are valued scrip wise at cost or market price whichever is lower.

(iv). FIXED ASSETS AND DEPRECIATION :

(a) Fixed assets are stated at cost (including capitalized interest, if any) less depreciation.

(b) Depreciation on owned assets is provided on Straight Line method at the rate prescribed in Schedule XIV of Companies Act, 1956.

(c) All assets given on finance lease, on or before 31st March, 2001 are capitalized as fixed assets & depreciation on leases assets is provided on flat rates spread over the lease period as per the lease agreement or at the rate prescribed under Schedule XIV of Companies Act, 1956 whichever is higher.

(d) Depreciation on additions made is provided on pro rata basis from the date of their use.

(v). PROVISION AGAINST LOANS AND OTHER CREDIT FACILITIES :

Provision on Non Performing Assets has been provided as per the prudential norms issued by the RBI.

(vi). RETIREMENT BENEFITS :

The provision of gratuity are not applicable to the Company.

(vii). PRIOR PERIOD ADJUSTMENT :

Prior period expenses / income (if any) are shown separately in the Profit & Loss A/c.

(viii) TAXES ON INCOME :

Current tax is determined in accordance with the provisions of the Income Tax Act 1961, as the amount of tax payable in respect of taxable income for the year.

Deferred tax is recognized for all timing differences. Deferred tax assets are carried forward to the extent it is probable that future taxable profit will be available against which such deferred tax assets can be realized. Deferred tax assets are reviewed at each balance sheet.

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Mar 31, 2012

(i). (a) The Financial accounts unless otherwise stated are prepared at historical cost under accrual method of accounting.

(b) The accounting policies unless otherwise separately stated are in confirmity with generally accepted accounting principles & Accounting Standards as issued by ICAI.

(ii). REVENUE RECOGNITION :

(a) Income of Non performing assets has been recognised as and when received (as per prudential norms of RBI).

(b) Income from dividend is recognised on cash basis.

(c) Lease rental received (if any) is accounted as income and is not bifurcated in interest income and principal amount repayment as required by Accounting Standards - 19 "Accounting for Lease" of ICAI in respect of Financial Lease as none of the lease agreement have been entered on or after 1.4.2001 when the said Accounting Standard became applicable.

(iii). INVESTMENT:

Investment is classified into current investment & long term investment.

Long term investments are valued at cost and provision will be made for permanent dimunition in value of such investment.

Current investments are valued scripwise at cost or market price whichever is lower.

(iv). FIXED ASSETS AND DEPRECIATION :

(a) Fixed assets are stated at cost (including capitalised interest, if any) less depreciation.

(b) Depreciation on owned assets is provided on Straight Line method at the rate prescribed in Schedule XIV of Companies Act, 1956.

(c) All assets given on finance lease, on or before 31st March, 2001 are capitalised as fixed assets & depreciation on leases assets is provided on flat rates spread over the lease period as per the lease agreement or at the rate prescribed under Schedule XIV of Companies Act, 1956 whichever is higher.

(d) Depreciation on additions made is provided on pro rata basis from the date of their use.

(v). PROVISION AGAINST LOANS AND OTHER CREDIT FACILITIES :

Provision on Non Performing Assets has been provided as per the prudential norms issued by the RBI.

(vi). RETIREMENT BENEFITS :

The provision of gratuity are not applicable to the Company.

(vii). PRIOR PERIOD ADJUSTMENT :

Prior period expenses / income (if any) are shown seperately in the Profit & Loss A/c.

(viii) TAXES ON INCOME :

Current tax is determined in accordance with the provisions of the Income Tax Act 1961, as the amount of tax payable in respect of taxable income for the year.

Deferred tax is recognized for all timing differences. Deferred tax assets are carried forward to the extent it is probable that future taxable profit will be available against which such deferred tax assets can be realized. Deferred tax assets are reviewed at each balance sheet.

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Mar 31, 2010

(A) ACCOUNTING POLICY :

1. (a) The Financial accounts unless otherwise stated are prepared at historical cost under

accrual method of accounting. (b) The accounting policies unless otherwise separately stated are in confirmity with generally accepted accounting principles & Accounting Standards as issued by ICAI.

2. REVENUE RECOGNITION .

(a) Income of Non performing assets has been recognised as and when received (as per prudential norms of RBI).

(b) Income from dividend is recognised on cash basis.

(c) Lease rental received (if any) is accounted as income and is not bifurcated in interest income and principal amount repayment as required by Accounting Standards -19 "Accounting for Lease" of ICAI in respect of Financial Lease as none of the lease agreement have been entered on or after 1.4.2001 when the said Accounting Standard became applicable.

3. INVESTMENT:

Investment is classified into current investment & long term investment.

Long term investments are valued at cost and provision will be made for permanent dimunition in value of such investment.

Current investments are valued scripwise at cost or market price whichever is lower.

4. FIXED ASSETS AND DEPRECIATION :

(a) Fixed assets are stated at cost (including capitalised interest, if any) less depreciation.

(b) Depreciation on owned assets is provided on Straight Line method at the rate prescribed in Schedule XIV of Companies Act, 1956.

(c) All assets given on finance lease, on or before 31st March, 2001 are capitalised as fixed assets & depreciation on leases assets is provided on flat rates spread over the lease period as per the lease agreement or at the rate prescribed under Schedule XIV of Companies Act, 1956 whichever is higher.

(d) Depreciation on additions made is provided on pro rata basis from the date of their use.

5. PROVISION AGAINST LOANS AND OTHER CREDIT FACILITIES :

Provision on Non Performing Assets has been provided as per the prudential norms issued by the RBI.

6. RETIREMENT BENEFITS :

The provision of gratuity are not applicable to the Company.

7. PRIOR PERIOD ADJUSTMENT :

Prior period expenses / income (if any) are shown seperately in the Profit & Loss A/c.

8. TAXES ON INCOME :

Current tax is determined in accordance with the provisions of the Income Tax Act 1961, as the amount of tax payable in respect of taxable income for the year.

Deferred tax is recognized for all timing differences. Deferred tax assets are carried forward to the extent it is probable that future taxable profit will be available against which such deferred tax assets can be realized. Deferred tax assets are reviewed at each balance sheet.