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Accounting Policies of Sai Baba Investment & Commercial Enterprise Ltd. Company

Mar 31, 2016

B)Rights, preferences and restrictions attached to Equity shares

The Company has one class of equity shares having a par value of Rs. 10 each. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors, if any is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

Notes:

1. This form of proxy in order to be effective should be duly completed and deposited at the Registered Office of the Company, not less than 48 hours before the commencement of the meeting.

2. A proxy need not be a member of the Company.

3. A person can act as a proxy on behalf of members not exceeding fifty and holding in the aggregate not more than 10% of the total share capital of the Company carrying voting results. A member holding more than 10% of the total share capital of the Company carrying voting rights may appoint a single person as proxy and such person shall not act as a proxy for any other person or shareholder.

4. This is only optional. Please put a ''X'' in the appropriate column against the resolutions indicated in the

Box. If you leave the ''For'' or ''Against'' column blank against any or all the resolutions, your proxy will be entitled to vote in the manner as he/she thinks appropriate.

5. Appointing a proxy does not prevent a member from attending the meeting in person if he so wishes.

6. In the case of joint holders, the signature of any one holder will be sufficient, but names of all the joint holders should be stated.


Mar 31, 2013

A. System of Accounting:

The Financial Statements are prepared under the Historical Cost Convention on accrual basis and materially comply with the Mandatory Accounting Standards and Presentations requirements of Companies Act, 1956 .

B. Revenue Recognition:,

Revenue is recognized on Accrual Basis.

Interest Income on Loan is determined at the rate of interest as indicated by the board in absence of any written agreement.

C. Fixed Assets:

Company does not own any fixed assets

D. Inventories;

Inventories of Shares have been valued at lower of Cost and Market Price value.

E. Contingent Liabilities:

Contingent Liabilities if any not provided in Books of Accounts are disclosed by way of Note.

F. Taxes on Income:

Tax Liability of the Company is estimated considering the provisions of the Income Tax Act, 1961. Deferred Tax is recognized subject to the consideration of prudence, on timing difference, being the difference between Taxable Income & Accounting Income that originate in one period & are capable of reversal in one or more subsequent periods.

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