Mar 31, 2013
Basis of Preparation of Financial Statements
The accounts are prepared under the historical cost convention in
accordance with the Accounting Standards specified by the Institute of
Chartered Accountants of India and the relevant provisions of the
Companies Act, 1956.
Use of estimates
The Preparation of financial statements in conformity with Generally
Accepted Accounting Principles (GAAP) in India requires management to
make estimates and assumptions that effect the reported amount of
assets and liabilites and the disclosure of contingent liabilities on
the date of financial statments and the reported amount of revenue and
expenses during the reporting period. Actual results could defer from
those estimates. Any revision to accounting estimates is recognished
prospectively in current and future period.
Method of Accounting
The company follows accrual basis of accounting.
Fixed Assets
Fixed Assets are capitalised at cost inclusive of related expenses.
Depreciation on fixed assets is provided on written down value method
in terms of Section 205 (2) (a) of the Companies Act, 1956 at the rates
prescribed in Schedule XIV of the Companies Act, 1956
Investments
Long Term (Non Current) Investments are valued at cost of acquisition
which includes brokerages, fees and related costs. Short Term (Current)
investments are carried at Lower of cost and market value. Long term
Investments are carried at cost and provision for diminution in value
of long term investments is made only if, in the opinion of the
management, such a decline if other than temporary in nature.
Mar 31, 2012
Basis of Preparation of Financial Statements
The accounts are prepared under the historical cost convention in
accordance with the Accounting Standards specified by the Institute of
Chartered Accountants of India and the relevant provisions of the
Companies Act, 1956.
Use of estimates
The Preparation of financial statements in conformity with Generally
Accepted Accounting Principles (GAAP) in India requires management to
make estimates and assumptions that effect the reported amount of
assets and liabilites and the disclosure of contingent liabilities on
the date of financial statments and the reported amount of revenue and
expenses during the reporting period. Actual results could defer from
those estimates. Any revision to accounting estimates is recognished
prospectively in current and future period.
Method of Accounting
The company follows accrual basis of accounting.
Fixed Assets
Fixed Assets are capitalised at cost inclusive of related expenses.
Depreciation on fixed assets is provided on written down value method
in terms of Section 205 (2) (a) of the Companies Act, 1956 at the rates
prescribed in Schedule XIV of the Companies Act, 1956
Investments
Long Term (Non Current) Investments are valued at cost of acquisition
which includes brokerages, fees and related costs. Short Term
(Current) investments are carried at Lower of cost and market value.
Long term Investments are carried at cost and provision for diminution
in value of long term investments is made only if, in the opinion of
the management, such a decline if other than temporary in nature.
Mar 31, 2011
Basis of Preparation of Financial Statements
The accounts are prepared under the historical cost convention in
accordance with the Accounting Standards specified by the Institute of
Chartered Accountants of India and the relevant provisions of the
Companies Act, 1956.
Method of Accounting
The company follows accrual basis of accounting.
Fixed Assets
Fixed Assets are capitalised at cost inclusive of expenses.
Depreciation on fixed assets are provided on written down value method
in terms of Section 205 (2) (a) of the Companies Act, 1956 at the rates
prescribed in Schedule XIV of the Act
Purchase of Stock - Shares
Stock of shares and securities as at the year-end is valued at Lower of
cost or market value on First in First out basis.
Investments
Investments are valued at cost of acquisition which includes
brokerages, fees and related costs. Short Term investments are carried
at Lower of cost and market value. Long Term investments are carried at
cost. Provision for diminution in value of long term investments is
made only if, in the opinion of the management, such a decline if other
than temporary in nature.
Mar 31, 2010
Basis of Preparation of Financial Statements
The accounts are prepared under the historical cost convention in
accordance with the Accounting Standards specified by the Institute of
Chartered Accountants of India and the relevant provisions of the
Companies Act, 1956.
Method of Accounting
The company follows accrual basis of accounting.
Fixed Assets
Fixed Assets are capitalised at cost inclusive of expenses.
Depreciation on fixed assets are provided on written down value method
in terms of Section 205 (2) (a) of the Companies Act, 1956 at the rates
prescribed in Schedule XIV of the
Purchase of Stock - Shares
Stock of shares and securities as at the year-end is valued at Lower of
cost or market value on First in First out basis.
Investments
Investments are valued at cost of acquisition which includes
brokerages, fees and related costs. Short Term investments are carried
at Lower of cost and market value. Long Term investments are carried
at cost. Provision for diminution in value of long term.