Accounting Policies of 3P Land Holdings Ltd. Company

Mar 31, 2025

Note 2: Summary of significant accounting policies:

a. Basis of preparation

The standalone financial statements of the Company comply in all material aspects with Indian Accounting
Standards (Ind AS) notified under Section 133 of the Companies Act, 2013 (the Act) Companies (Indian
Accounting Standards) Rules, 2015 (as amended) and other relevant provisions of the Act.

The Company, being an exempt Core Investment Company (CIC) under RBI regulations, has prepared
financial statement in accordance with Division III of Schedule III of the Act, except for disclosure of
following ratios - (i) Capital to risk-weighted assets ratio (CRAR), (ii) Tier I CRAR, (iii) Tier II CRAR and
Liquidity Coverage Ratio. Typically, these ratios are required to be maintained by Banking companies
and NBFC to comply with RBI regulations. However, the Company, being an exempt CIC, is not required
to maintaining such capital to assets and liquidity ratios. Accordingly, disclosure of such ratios is not
required.

The financial statements have been prepared on the historical cost basis except for certain financial
instruments that are measured at fair values as per Ind AS 109, at the end of each reporting period, as
explained in the accounting policies below.

Fair value is the price that would be received to sell an asset or would be paid to transfer a liability in an
orderly transaction between market participants at the measurement date. The fair value measurement
is based on the presumption that the transaction to sell the asset or transfer the liability takes place
either, in the principal market for the asset or liability, or in the absence of a principal market, in the most
advantageous market for the asset or liability. The principal or the most advantageous market must
be accessible by the Company. The fair value of an asset or a liability is measured using assumptions
that market participants would use when pricing the asset or liability, assuming that market participants
act in their economic best interest. The Company uses valuation techniques that are appropriate in the
circumstances and for which sufficient data are available to measure fair value, maximising the use of
relevant observable inputs and minimising the use of unobservable inputs.

All assets and liabilities for which fair value is measured or disclosed in the standalone financial statements
are categorised within the fair value hierarchy, described as follows, based on the lowest level input that
is significant to the fair value measurement as a whole:

Level 1- Quoted (unadjusted) market prices in active markets for identical assets or liabilities;

Level 2- Valuation techniques for which the lowest level input that is significant to the fair value
measurement is directly or indirectly observable;

Level 3- Valuation techniques for which the lowest level input that is significant to the fair value

measurement is unobservable.

b. Presentation and Classification

The Company presents its balance sheet in the order of liquidity as per the presentation requirement of
division III of schedule III of the Act.

The Company’s normal operating cycle has been taken as 12 months.

c. Revenue Recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company
and the revenue can be reliably measured, regardless of when the payment is being made. The Company
has concluded that it is the principal in all of its revenue arrangements since it is the primary obligor in
all the revenue arrangements as it has pricing latitude and is also exposed to inventory and credit risks.

Revenue is measured at the fair value of the consideration received or receivable, taking into account
contractually defined terms of payment i.e. adjusted for discounts, incentive, time value of money and
excluding taxes or duties collected on behalf of the government. No element of financing deemed present,
as the sales are made with a credit term consistent with market practice. Further the Company charges
interest to customers on delayed payment, if any.

Revenue from operating leases

Revenue from lease of real estate, arising from operating leases on investment properties is accounted
for on a straight-line basis over the lease terms.

Interest income

Interest income is accrued on a time basis, by reference to the principal outstanding and at the effective
interest rate applicable.

Dividends

Income from dividend on investments is accrued in the year in which it is declared, whereby the Company’s
right to receive is established.

Services

Income from services on supply of services for sales and marketing is accrued on a basis of services
provided.

d. Other income

Profit from sale/transfer of assets is recognised only when the transfer is complete, i.e. when the transferee
obtains control and legal title for the asset and when there is no uncertainty on the amount and timing of
receipt of the sale consideration. The recording of profit from sale/transfer is postponed until then.

e. Trade receivables

The company classifies the right to consideration in exchange for deliverables as either a receivable or
as unbilled revenue. A receivable is a right to consideration that is unconditional upon passage of time.

J

f. Property, plant and equipment

Property, plant and equipment are stated at cost, net of accumulated depreciation and accumulated
impairment losses, if any. Such cost includes the cost of replacing part of the property, plant and equipment
and borrowing costs for long-term construction projects if the recognition criteria are met. All other repair
and maintenance costs are recognised in statement of profit or loss as incurred. No decommissioning
liabilities are expected or be incurred on the assets of plant and equipment.

The Company, based on technical assessment made by technical expert and management estimate,
depreciates all the assets over estimated useful life which is also the useful life prescribed in Schedule
II to the Companies Act, 2013. The management believes that these estimated useful lives are realistic
and reflect fair approximation of the period over which the assets are likely to be used.

The residual values, useful lives and methods of depreciation of property, plant and equipment are
reviewed at each financial year end and adjusted prospectively, if appropriate.

g. Investment properties

Property that is held for long-term rental yields or for capital appreciation or both, and that is not occupied
by the Company for use in business, neither held for sale is classified as investment property. Investment
properties are measured initially at cost, including transaction costs. Subsequent to initial recognition,
investment properties are stated at cost less accumulated depreciation (as applicable to building
component) and accumulated impairment loss, if any.

Subsequent expenditure is capitalised to the asset’s carrying amount only when it is probable that future
economic benefits associated with expenditure will flow to the company and the cost of the item can be
measured reliably. All other repairs and maintenance costs are expensed when incurred.

The Company, based on technical assessment made by technical expert and management estimate,
depreciates the building over estimated useful life, which is also the useful life prescribed in Schedule
II to the Act. The management believes that these estimated useful lives are realistic and reflect fair
approximation of the period over which the assets are likely to be used.

Though the Company measures investment property using cost based measurement, the fair value of
investment property is disclosed in the notes. Fair values are determined based on an annual evaluation
performed by the management. The Company obtains valuation report at reasonable intervals from
external valuers.

h. Leases

The determination of whether an arrangement is (or contains) a lease is based on the substance of the
arrangement at the inception of the lease. The arrangement is, or contains, a lease if fulfilment of the
arrangement is dependent on the use of a specific asset or assets and the arrangement conveys a right
to use the asset or assets, even if that right is not explicitly stated in the arrangement.

Company as a lessor

Leases in which the Company does not transfer substantially all the risks and rewards of ownership
of an asset are classified as operating leases. Rental income from operating lease is recognised on a
straight-line basis over the term of the relevant lease.

i. Taxes

Current tax

Current tax comprises the expected tax payable or receivable on the taxable income or loss of the year
and any adjustment to the tax payable or receivable in respect of previous years. It is measured using
tax rate enacted or substantially enacted at the reporting date.

Deferred tax

Deferred tax is recognised in respect of temporary differences between the tax bases of assets and
liabilities and their carrying amounts for financial reporting purposes at the reporting date.

Deferred tax assets/liabilities are recognised for deductible/taxable temporary differences. Deferred
tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the
asset is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted or
substantively enacted at the reporting date.

Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current
tax assets against current tax liabilities and the deferred taxes relate to the same taxable Company and
the same taxation authority.

Current and deferred tax are recognized in profit or loss, except when they relate to items that are
recognized in other comprehensive income or directly in equity, in which case, the current and deferred
tax are also recognized in other comprehensive income or directly in equity respectively.

j. Cash and cash equivalents

Cash and cash equivalents in the balance sheet comprise cash at banks and on hand and short-term
deposits with an original maturity of three months or less, which are subject to an insignificant risk of
changes in value.

---

Mar 31, 2024

Note 2: Summary of significant accounting policies:

a. Basis of preparation

The standalone financial statements of the Company comply in all material aspects with Indian Accounting Standards (Ind AS) notified under Section 133 of the Companies Act, 2013 (the Act) Companies (Indian Accounting Standards) Rules, 2015 (as amended) and other relevant provisions of the Act.

The Company, being an exempt Core Investment Company (CIC) under RBI regulations, has prepared financial statement in accordance with Division III of Schedule III of the Act, except for disclosure of following ratios - (i) Capital to risk-weighted assets ratio (CRAR), (ii) Tier I CRAR, (iii) Tier II CRAR and Liquidity Coverage Ratio. Typically, these ratios are required to be maintained by Banking companies and NBFC to comply with RBI regulations. However, the Company, being an exempt CIC, is not required to maintaining such capital to assets and liquidity ratios. Accordingly, disclosure of such ratios is not required.

The financial statements have been prepared on the historical cost basis except for certain financial instruments that are measured at fair values as per Ind AS 109, at the end of each reporting period, as explained in the accounting policies below.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either, in the principal market for the asset or liability, or in the absence of a principal market, in the most advantageous market for the asset or liability. The principal or the most advantageous market must be accessible by the Company. The fair value of an asset or a liability is measured using assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest. The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximising the use of relevant observable inputs and minimising the use of unobservable inputs.

All assets and liabilities for which fair value is measured or disclosed in the standalone financial statements are categorised within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole:

Level 1- Quoted (unadjusted) market prices in active markets for identical assets or liabilities;

Level 2- Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable;

Level 3- Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable.

b. Presentation and Classification

The Company presents its balance sheet in the order of liquidity as per the presentation requirement of division III of schedule III of the Act.

The Company’s normal operating cycle has been taken as 12 months.

c. Revenue Recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured, regardless of when the payment is being made. The Company has concluded that it is the principal in all of its revenue arrangements since it is the primary obligor in all the revenue arrangements as it has pricing latitude and is also exposed to inventory and credit risks.

Revenue is measured at the fair value of the consideration received or receivable, taking into account contractually defined terms of payment i.e. adjusted for discounts, incentive, time value of money and excluding taxes or duties collected on behalf of the government. No element of financing deemed present, as the sales are made with a credit term consistent with market practice. Further the Company charges interest to customers on delayed payment, if any.

Revenue from operating leases

Revenue from lease of real estate, arising from operating leases on investment properties is accounted for on a straight-line basis over the lease terms.

Interest income

Interest income is accrued on a time basis, by reference to the principal outstanding and at the effective interest rate applicable.

Dividends

Income from dividend on investments is accrued in the year in which it is declared, whereby the Company’s right to receive is established.

Services

Income from services on supply of services for sales and marketing is accrued on a basis of services provided.

d. Other income

Profit from sale/transfer of assets is recognised only when the transfer is complete, i.e. when the transferee obtains control and legal title for the asset and when there is no uncertainty on the amount and timing of receipt of the sale consideration. The recording of profit from sale/transfer is postponed until then.

e. Trade receivables

The company classifies the right to consideration in exchange for deliverables as either a receivable or as unbilled revenue. A receivable is a right to consideration that is unconditional upon passage of time.

f. Property, plant and equipment

Property, plant and equipment are stated at cost, net of accumulated depreciation and accumulated impairment losses, if any. Such cost includes the cost of replacing part of the property, plant and equipment and borrowing costs for long-term construction projects if the recognition criteria are met. All other repair and maintenance costs are recognised in statement of profit or loss as incurred. No decommissioning liabilities are expected or be incurred on the assets of plant and equipment.

The Company, based on technical assessment made by technical expert and management estimate, depreciates all the assets over estimated useful life which is also the useful life prescribed in Schedule II to the Companies Act, 2013. The management believes that these estimated useful lives are realistic and reflect fair approximation of the period over which the assets are likely to be used.

The residual values, useful lives and methods of depreciation of property, plant and equipment are reviewed at each financial year end and adjusted prospectively, if appropriate.

g. Investment properties

Property that is held for long-term rental yields or for capital appreciation or both, and that is not occupied by the Company for use in business, is classified as investment property. Investment properties are measured initially at cost, including transaction costs. Subsequent to initial recognition, investment properties are stated at cost less accumulated depreciation (as applicable to building component) and accumulated impairment loss, if any. Repair and maintenance costs are recognised in profit or loss as incurred.

The Company, based on technical assessment made by technical expert and management estimate, depreciates the building over estimated useful life, which is also the useful life prescribed in Schedule II to the Act. The management believes that these estimated useful lives are realistic and reflect fair approximation of the period over which the assets are likely to be used.

Though the Company measures investment property using cost based measurement, the fair value of investment property is disclosed in the notes. Fair values are determined based on an annual evaluation performed by the management. The Company obtains valuation report at reasonable intervals form external valuers.

h. Leases

The determination of whether an arrangement is (or contains) a lease is based on the substance of the arrangement at the inception of the lease. The arrangement is, or contains, a lease if fulfilment of the arrangement is dependent on the use of a specific asset or assets and the arrangement conveys a right to use the asset or assets, even if that right is not explicitly stated in the arrangement.

Company as a lessor

Leases in which the Company does not transfer substantially all the risks and rewards of ownership of an asset are classified as operating leases. Rental income from operating lease is recognised on a straight-line basis over the term of the relevant lease.

i. Taxes

Current tax

Current tax comprises the expected tax payable or receivable on the taxable income or loss of the year and any adjustment to the tax payable or receivable in respect of previous years. It is measured using tax rate enacted or substantially enacted at the reporting date.

Deferred tax

Deferred tax is recognised in respect of temporary differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the reporting date.

Deferred tax assets/liabilities are recognised for deductible/taxable temporary differences. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date.

Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current tax liabilities and the deferred taxes relate to the same taxable Company and the same taxation authority.

Current and deferred tax are recognized in profit or loss, except when they relate to items that are recognized in other comprehensive income or directly in equity, in which case, the current and deferred tax are also recognized in other comprehensive income or directly in equity respectively.

j. Cash and cash equivalents

Cash and cash equivalents in the balance sheet comprise cash at banks and on hand and short-term deposits with an original maturity of three months or less, which are subject to an insignificant risk of changes in value.

---

Mar 31, 2019

a. Basis of preparation

These standalone financial statements comply in all material aspects with Accounting Standards (AS) specified under Section 133 of the Companies Act, 2013 (the Act) read with Rule 7 of the Companies (Accounts) Rules, 2014.

Statement of accounts are prepared on historical cost basis, following accrual basis of accounting.

The Company presents assets and liabilities in the balance sheet based on current/non-current classification. Asset is classified as current when it is expected to be realised or intended to be sold or consumed in the normal operating cycle and; liability is classified as current when it is due to be settled within the operating cycle or twelve months after the reporting period. The operating cycle of the Company is considered to be period of 12 months.

During the year, the Company completed amalgamation of it’s wholly owned subsidiaries with itself, pursuant to ‘Scheme of Amalgamation’ (the “Scheme”) approved by NCLT. Refer Note 20.10 for details.

b. Revenue recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured, regardless of when the payment is being made. Revenue is measured excluding taxes or duties collected on behalf of the Government.

Lease of real estate

Rental income arising from operating leases is accounted for on a straight-line basis over the lease terms.

c. Other income Interest income

Interest income is accrued on a time basis, by reference to the principal outstanding and at the interest rate applicable. Interest income is included in other income in the statement of profit and loss.

Dividends

Income from dividend on investments is accrued in the year in which it is declared, whereby the Company’s right to receive is established.

d. Tangible fixed assets

Tangible fixed assets are stated at cost, net of accumulated depreciation and accumulated impairment losses, if any. Such cost includes the cost of replacing part of the tangible fixed assets and borrowing costs for long-term construction projects if the recognition criteria are met.

Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets. The Company, based on technical assessment made by technical expert and management estimate, depreciates all the assets over estimated useful life which is also the useful life prescribed in Schedule II to the Companies Act, 2013. The management believes that these estimated useful lives are realistic and reflect fair approximation of the period over which the assets are likely to be used.

The residual values, useful lives and methods of depreciation of Tangible fixed assets are reviewed at each financial year end and adjusted prospectively, if appropriate.

e. Taxes

Current tax

Current tax comprises the expected tax payable or receivable on the taxable income or loss of the year and any adjustment to the tax payable or receivable in respect of previous years. It is measured using tax rate enacted or substantially enacted at the reporting date.

Deferred tax

Deferred tax is recognised in respect of temporary differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the reporting date. In view of prevailing circumstances, deferred tax asset has been recognised on brought forward losses and unused tax credits only to the extent of virtual certainty. Deferred tax assets are re-assessed at each reporting date and are recognised to the extent that it has become probable that future taxable profits will allow the deferred tax asset to be recovered and vice versa.

f. Employee benefits

Short-term employee benefit are expensed as the related service is provided. Liabilities for wages and salaries, that are expected to be settled wholly within one year after the end of the period in which the employees render the related service are the end of the reporting period and are measured at the amounts expected to be paid when the liabilities are settled. The liabilities are presented as current employee benefit obligations in the balance sheet. The Company does not have any long-term/ post-retirement employee benefit obligation.

---

Mar 31, 2013

A) Fixed Assets are valued at cost.

b) Borrowing costs comprising interest etc. relating to projects are capitalised up to the date of its completion and other borrowing costs are charged to Profit and Loss Account in the year of their accrual.

c) Depreciation on Machinery & Building has been provided on Straight Line Method and that on the other Assets on Written Down Value method in accordance with Schedule XIV of the Companies Act, 1956 as in force as on the date of Balance Sheet.

d) Finished paper stock is valued at lower of cost or market value. All other inventories are valued at lower of cost on First In First Out method or realisable value.

e) Investments are classified into current and long term investments. Current Investments are stated at lower of cost or fair value. Long term investments are stated at cost, less provision for permanent diminution in value, if any.

f) (i) Contributions to defined contribution schemes,namely,Provident Fund and Supernnuation Fund is

made at a pre-determined rates and are charged to the Profit & Loss Account. (ii) Contributions to the defined benefit scheme,namely,Gratuity Fund & provision for the remaining Gratuity and for Leave encashment are made on the basis of actuarial valuations made in accordance with the revised Accounting Standard (AS) 15 at the end of each Financial Year and are charged to the Profit & Loss Account of the year.

(iii)Actuarial gains & losses are recognized immediately in the Profit & Loss Account.

g) Foreign Exchange Transactions are recorded at the then prevailing rate. Closing balances of Assets & Liabilities relating to foreign currency transactions are converted into rupees at the rates prevailing on the date of the Balance Sheet.The difference for transactions are dealt with in the Profit & Loss account.

h) Revenue recognition is postponed to a later year only when it is not possible to estimate it with reasonable accuracy. i) Factors giving rise to any indication of any impairment of the carrying amount of the company''s assets are appraised at each balance sheet date to determine and provide /revert an impairment loss following accounting standard AS 28 for impairment of assets.

---

Mar 31, 2012

A) Fixed Assets are valued at cost.

b) Borrowing costs comprising interest etc. relating to projects are capitalised up to the date of its completion and other borrowing costs are charged to Profit and Loss Account in the year of their accrual.

c) Depreciation on Machinery & Building has been provided on Straight Line Method and that on the other Assets on Written Down Value method in accordance with Schedule XIV of the Companies Act, 1956 as in force as on the date of Balance Sheet.

d) Finished paper stock is valued at lower of cost or market value. All other inventories are valued at lower of cost on First In First Out method or realisable value.

e) Investments are classified into current and long term investments. Current Investments are stated at lower of cost or fair value. Long term investments are stated at cost, less provision for permanent diminution in value, if any.

f) (i) Contributions to defined contribution schemes, namely, Provident Fund and Supernnuation Fund is made at a pre-determined rates and are charged to the Profit & Loss Account.

(ii) Contributions to the defined benefit scheme, namely, Gratuity Fund & provision for the remaining Gratuity and for Leave encashment are made on the basis of actuarial valuations made in accordance with the revised Accounting Standard (AS) 15 at the end of each Financial Year and are charged to the Profit & Loss Account of the year.

(iii) Actuarial gains & losses are recognized immediately in the Profit & Loss Account.

g) Foreign Exchange Transactions are recorded at the then prevailing rate. Closing balances of Assets & Liabilities relating to foreign currency transactions are converted into rupees at the rates prevailing on the date of the Balance Sheet The difference for transactions are dealt with in the Profit & Loss account.

h) Revenue recognition is postponed to a later year only when it is not possible to estimate it with reasonable accuracy.

i) Factors giving rise to any indication of any impairment of the carrying amount of the company's assets are appraised at each balance sheet date to determine and provide /revert an impairment loss following accounting standard AS 28 for impairment of assets.

(b) The deferred Tax Asset in respect of carry forward of losses and tax credit has been worked out on the basis of assessment orders, returns of income filed for subsequent assessment years and estimate of the taxable income for the year ending 31st March, 2012.

---

Mar 31, 2011

A) Investments are classified into current and long term investments. Current Investments are stated at lower of cost and fair value.

Long Term Investments are stated at cost, less provision for permanent diminution in value, if any.

b) Finished goods are valued at lower of cost or market value. All other inventories are valued at cost based on First In, First Out method.

c) Fixed Assets are valued at cost.

d) Borrowing costs comprising interest etc. relating to project are capitalised up to the date of its completion and other borrowing costs are charged to profit and loss account in the year of their accrual.

e) Depreciation on Machinery & Building has been provided on Straight Line Method and that on the other Assets on written Down Value method in accordance with Schedule XIV of the Companies Act, 1956 as in force as on the date of Balance Sheet.

f) (i) Contributions to defined contribution schemes,namely,Provident Fund and Supernnuation Fund is made at a pre-determined rates and are charged to the Profit & Loss Account.

(ii) Contributions to the defined benefit scheme,namely,Gratuity Fund & provision for the remaining Gratuity and for Leave encashment are made on the basis of actuarial valuations made in accordance with the revised Accounting Standard (AS) 15 at the end of each Financial Year and are charged to the Profit & Loss Account of the year.

(iii)Actuarial gains & losses are recognized immediately in the Profit & Loss Account.

g) Revenue recognition is postponed to a later year only when it is not possible to estimate it with reasonable accuracy.

h) Foreign currency transactions are recorded at the then prevailing rate. Closing balances of assets and liabilities relating to foreign currency transactions are converted into Rupees at the rates prevailing on the date of the Balance Sheet The difference for transactions are dealt with in the Profit and Loss account.

i) Factors giving rise to any indication of any impairment of the carrying amount of the company's assets are appraised at each balance sheet date to determine and provide /revert an impairment loss following accounting standard AS-28 for impairment of assets.

---

Mar 31, 2010

A) Investments are classified into current and long term investments. Current Investments are stated at lower of cost and fair value.

Long Term Investments are stated at cost, less provision for permanent diminution in value, if any.

b) Finished goods are valued at lower of cost or market value. All other inventories are valued at cost based on First In, First Out method.

c) Fixed Assets are valued at cost.

d) Borrowing costs comprising interest etc. relating to project are capitalised up to the date of its completion and other borrowing costs are charged to profit and loss account in the year of their accrual.

e) Depreciation on Machinery & Building has been provided on Straight Line Method and that on the other Assets on written Down Value method in accordance with Schedule XIV of the Companies Act, 1956 as in force as on the date of Balance Sheet.

f) (i) Contributions to defined contribution schemes, namely, Provident Fund and Superannuation Fund is made at a pre-determined rates and are charged to the Profit & Loss Account.

(ii) Contributions to the defined benefit scheme, namely, Gratuity Fund & provision for the remaining Gratuity and for Leave encashment are made on the basis of actuarial valuations made in accordance with the revised Accounting Standard (AS) 15 at the end of each Financial Year and are charged to the Profit & Loss Account of the year.

(iii) Actuarial gains & losses are recognized immediately in the Profit & Loss Account.

g) Revenue recognition is postponed to a later year only when it is not possible to estimate it with reasonable accuracy.

h) Foreign currency transactions are recorded at the then prevailing rate. Closing balances of assets and liabilities relating to foreign currency transactions are converted into Rupees at the rates prevailing on the date of the Balance Sheet The difference for transactions are dealt with in the Profit & Loss account.

i) Factors giving rise to any indication of any impairment of the carrying amount of the companys assets are appraised at each balance sheet date to determine and provide /revert an impairment loss following accounting standard AS-28 for impairment of assets.

(a) The deferred Tax Asset in respect of carry forward of losses has been worked out on the basis assessment orders, returns of income filed for subsequent assessment years and estimate of the taxable income for the year ending 31st March, 2010.