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Accounting Policies of Parsharti Investments Ltd. Company

Mar 31, 2015

A) Basis of Preparation of Financial Statement

The financial statement of the Company have been prepared in accordance with generally accepted account- ing principles in India (Indian GAAP). The Company has prepared these financial statements to comply with all material respects with the accounting standards notified under the Companies (Accounting Standards) Rules, 2006, (as amended)and the relevant provisions of the Companies Act, 2013. The financial statements have been prepared on an accrual basis and under the historical cost convention.

b) Use of Estimates

The preparation of the financial statements in conformity with generally accepted accounting principles re- quires 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 revenue and expenses during the reporting period. Although these estimates are based upon management's best knowledge of current events and ac- tions, actual results could differ from these estimates.

c) Accounting of Income/Expenditure

All Income/Expenditure items having a material bearing on the financial statements are recognized on accrual basis, unless otherwise stated.

d) All the 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 business operations, the Company has ascertained its operating cycle as 13 months for the purpose of current or non-current classification of assets and liabilities.

e) Fixed Assets

Fixed Assets have been carried at historical cost.

f) Depreciation

Depreciation on assets is provided, pro-rata for the period of use, by the Straight Line Method (SLM) as per the provisions of Part B of Schedule II of the Companies Act, 2013. As a result, the charge for depreciation is lower by Rs. 2,124 for the year ended 31st March 2015.

g) Investments

Long Term Investments have been shown at cost price.

h) Stock in Trade

Stock in Trade is valued at cost or Market value whichever is lower


Mar 31, 2014

(a) Basis of Preparation of financial statements: -

The financial statements of the Company have been prepared In accordance with generally accepted accounting principles in India (Indian GAAP). The Company has prepared these financial statements to comply in all material respects with the accounting standards notified under the Companies (Accounting Standards) Rules, 2006, (as amended) and the relevant provisions of the Companies Act, 1956. The financial statements have been prepared on an accrual basis and under the historical cost convention.

(b) Use of Estimates:-

The preparation of financial statements in conformity with generally accepted accounting principles 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 period. Although these estimates are based upon management''s best knowledge of current events and action, actual results could differ from these estimates.

(c) Accounting of Income/Expenditure

All Income/ Expenditure items having a material bearing on the financial statements are recognized on accrual basis, unless otherwise stated.

(d) All the 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 VI to the Companies Act, 1956. Based on the nature of business operations, the Company has ascertained its operating cycle as 13 months for the purpose of current or non-current classification of assets and liabilities.

(e) Fixed Assets

Fixed Assets have been earned at historical cost

(f) Depreciation

Depreciation on Fixed Assets is provided on straight line method in accordance with Section 205(2)(b) of the Companies Act, 1956, as per rates specified in Schedule XIV to the Companies Act, 1956.

(g) Investments

Long Term Investments have been shown at cost price.

(h) Stock in Trade

Stock in trade is valued at cost or Market value whichever is lower.


Mar 31, 2013

(a) Basis of Preparation of financial statements: -

The financial statements of the Company have been prepared in accordance with generally accepted account- ing principles in India (Indian GAAP). The Company has prepared these financial statements to comply in all material respects with the accounting standards notified under the Companies (Accounting Standards) Rules, 2006, (as amended) and the relevant provisions of the Companies Act, 1956. The financial statements have been prepared on an accrual basis and under the historical cost convention.

(b) Use of Estimates:-

The preparation of financial statements in conformity with generally accepted accounting principles 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 period. Although these estimates are based upon management''s best knowledge of current events and action, actual results could differ from these estimates.

(c) Accounting of Income/Expenditure

All Income/ Expenditure items having a material bearing on the financial statements are recognized on accrual basis, unless otherwise stated.

(d) All the 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 VI to the Companies Act, 1956. Based on the nature of business operations, the Company has ascertained its operating cycle as 12 months for the purpose of current or non-current classification of assets and liabilities.

(e) Fixed Assets

Fixed Assets have been carried at historical cost

(f) Depreciation

Depreciation on Fixed Assets is provided on straight line method in accordance with Section 205(2)(b) of the Companies Act, 1956, as per rates specified in Schedule XIV to the Companies Act, 1956.

(g) Investments

Long Term Investments have been shown at cost price.

(h) Stock in Trade

Stock in trade is valued at cost or Market value whichever is lower.


Mar 31, 2012

(a) Basis of Preparation of financial statements: -

The financial statements of the Company have been prepared in accordance with generally accepted ac- counting principles in India (Indian GAAP) The Company has prepared these financial statements to comply in all material respects with the accounting standards notified under the Companies (Accounting Standards) Rules, 2006, (as amended) and the relevant provisions of the Companies Act, 1956. The financial statements have been prepared on an accrual basis and under the historical cost convention.

(b) Use of Estimates:-

The preparation of financial statements in conformity with generally accepted accounting principles 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 period. Although these estimates are based upon management's best knowledge of current events and action, actual results could differ from these estimates.

(c) Accounting of Income/ Expenditure

All Income/ Expenditure items having a material bearing on the financial statements are recognized on accrual basis, unless otherwise stated.

(d) All the 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 VI to the Companies Act, 1956. Based on the nature of business operations, the Company has ascertained its operating cycle as 12 months for the purpose of current or non-current classification of assets and liabilities.

(e) Fixed Assets

Fixed Assets have been carried at historical cost.

(f) Depreciation

Depreciation on Fixed Assets is provided on straight line method in accordance with Section 205(2)(b) of the Companies Act, 1956, as per rates specified in Schedule XIV to the Companies Act, 1956.

(g) Investments

Long Term Investments have been shown at cost price.

(h) Stock in Trade

Stock in trade is valued at cost or Market value whichever is lower.


Mar 31, 2010

(a) Basis of Preparation of financial statements: -

(i) The financial statements have been prepared under the historical cost convention in accordance with the generally accepted accounting principles followed by the Company.

(ii) Accounting policies not specifically referred to otherwise are consistent & in consonance with generally accepted accounting principles followed by the Company.

(b) Accounting of Income/ Expenditure

(i) All Income/ Expenditure items having a material bearing on the financial statements are recognized on accrual basis, unless otherwise stated.


Fixed Assets have been carried at historical cost.

(d) Depreciation

Depreciation on Fixed Assets is provided on straight line method in accordance with SectiQn 205(2)(b) of the Companies Act, 1956, as per rates specified in Schedule XIV to the Companies Act, 1956.

(e) Investments

Long Term Investments have been shown at cost price.

(f) Stock in Trade

Stock in trade is valued at cost or Market value whichever is lower.