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Accounting Policies of Maruti Securities Ltd. Company

Mar 31, 2014

1. General:

Basis of Preparation of Financial Statements:

The financial statements have been prepared to comply in all material respects in with the Indian Generally Accepted Accounting Principles (IGAAP) in India under the historical cost basis. IGAAP comprises mandatory accounting standards as specified in Companies Accounting Standards Rules, 2006, relevant guidelines issued by Securities Exchange Board of India, and relevant provisions of Companies Act, 1956 as issued from time to time,. The financial statements are prepared under the historical cost convention and accrual basis and in accordance with the Generally Accepted Accounting Principles in India and the requirements of the Companies Act 1956.

2. Revenue Recognition:

(i) The Company follows the mercantile system of Accounting and recognises income and expenditure on accrual basis. ''

(ii) Revenue is not recognised on the grounds of prudence, until realised in respect of liquidated damages, delayed payments as recovery of the amounts are not certain.

3. Fixed Assets:

(i) Fixed assets are stated at cost less accumulated depreciation. Cost of acquisition of fixed assets is inclusive of freight, duties, taxes and incidental expenses thereto.

4. Depreciation and Amortisation:

(i) Depreciation is provided on straight line method on pro-rata basis and at the rates and manner specified in the Schedule XIV of the Companies Act, 1956.

5. Inventories:

Inventories i.e., shares are valued at cost or market price whichever is lower.


Mar 31, 2013

1 .General:

Basis of preparation of financial statements: - The financial statements have been prepared to comply in all materia! respects in with the Indian Generally Accepted Accounting Principles(SGAAP) in India under the historical cost basis.lGAAP comprises mandatory accounting standards as ¦ specified in Companies Accounting Standards Rules, 2006, relevant guidelines issued by Securities Exchange Board of India, and relevant provisions of - Companies Act, 1956 as issued from time to time.-The financial statements are prepared under the historical cost convention and accrual basis and in accordance with the Generally Accepted Accounting Principles in India and the requirements of the Companies Act, 1956.

2.Revenue Recognition:

(i) The Company follows the mercantile system of Accounting and recognises income and expenditure on accrual basis.

(ii) Revenue is not recognized on the grounds of prudence, until realised in respect of liquidated damages, delayed payments as recovery of the amounts are not certain.

3.Fixed Assets:

(i) Fixed assets are stated at cost less accumulated depreciation. Cost of acquisition of fixed assets is inclusive of freight, duties, taxes and incidental expenses thereto.

4.Depreciation and Amortisation:

(i) Depreciation is provided on straight line method on pro-rata basis and at the rates and manner specified in the Schedule XIV of the Companies Act, 1956.

5.Inventories:

Inventories ke., shares are valued at cost or market price whichever is lower.


Mar 31, 2012

General:

(i) These accounts are prepared on the historical cost basis and on the accounting principles of a going concern.

(ii) Accounting policies not specifically referred to otherwise are consistent and in consonance with generally accepted accounting principles.

Revenue Recognition:

(i) The Company follows the mercantile system of Accounting and recognises income and expenditure on accrual basis.

(ii) Revenue is not recognised on the grounds of prudence, until realised in respect of liquidated damages, delayed payments as recovery of the amounts are not certain.

Fixed Assets:

(i) Fixed assets are stated at cost less accumulated depreciation. Cost of acquisition of fixed assets is inclusive of freight, duties, taxes and incidental expenses thereto.

Depreciation and Amortisation:

(i) Depreciation is provided on straight line method on pro-rata basis and at the rates and manner specified in the Schedule XIV of the Companies Act, 1956.

Inventories:

Inventories i.e., shares are valued at cost or market price whichever is lower.

Taxation:

The current charge for income tax is calculated in accordance with the relevant tax regulations applicable to the Company. Deferred tax asset and liability is recognised for future tax consequences attributable to the timing differences that result between the profit offered for income tax and the profit as per the financial statements

Deferred tax liability & Asset are measured as per the tax rates/laws that have been enacted or substantively enacted by the Balance Sheet date.

EPS

The Earning considered in ascertaining the Company's earning per share comprises net profit after Tax. The number of shares used in computing basic earning per share is weighted average number of shares outstanding during the year.

As Company earned Loss EPS is not calculated.

Gratuity

No provision for gratuity has been made as no employee has put in qualifying period of service for entitlement of this benefit.


Mar 31, 2010

General:

(i) These accounts are prepared on the historical cost basis and on the accounting principles of a going concern.

(ii) Accounting policies not specifically referred to otherwise are consistent and in consonance with generally accepted accounting principles.

Revenue Recognition:

(i) The Company follows the mercantile system of Accounting and recognises income and expenditure on accrual basis. .

(ii) Revenue is not recognised on the grounds of prudence, until realised in respect of liquidated damages, delayed payments as recovery of the amounts are not certain.

Fixed Assets:

(i) Fixed assets are stated at cost less accumulated depreciation. Cost of acquisition of fixed assets is inclusive of freight, duties, taxes and incidental expenses thereto.

Depreciation and Amortisation:

(i) Depreciation is provided on straight line method on pro-rata basis and at the rates and manner specified in the Schedule XIV of the Companies Act 1956.

Inventories:

Inventories i.e., shares are valued at cost or market price whichever is lower.

Taxation :

The current charge for income tax is calculated in accordance with the relevant tax regulations applicable to the Company. Deferred tax asset and liability is recognised for future tax consequences attributable to the timing differences that result between the profit offered for income tax and the profit as per the financial statements. Deferred tax asset & liability are measured as per the tax rates/taws that have been enacted or substantively enacted by the Balance Sheet date.

EPS

The Earning considered in ascertaining the Companys earning per share comprises net profit after Tax. The number of shares used in computing basic earning per share is weighted average number of shares outstanding during the year.

Gratuity

No provision for gratuity has been made as no employee has put in qualifying period of service for entitlement of this benefit

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