Accounting Policies of ATN International Ltd. Company

Mar 31, 2014

A. Basis ofPreparation:

The financial statements have been prepared in accordance with generally acccepted accounting principles in India under the historical cost convention on accrual basis. These financial statements have been prepared to comply in all material aspects with the Accounting Standards notified under Section 211(3C). [Companies (Accounting Standards) Rules, 2006, as amended] and the other relevant provisions of the Companies Act, 1956

B. Fixed Assets:

Fixed Assets are stated at the cost less accumulated depreciation. Cost is inclusive of freight, duties, taxes incidental expenses related to acquisition and also for bringing assets to working for its use.

C. Depreciation:

Depreciation on all assets has been provided on straight line basis as per rates prescribed under Schedule XIV of the Companies Act,1956 except on Office Premises where depreciation has not been charged. Depreciation is provided on pro-rata basis from the day on which the assets have been put to use

D. Investments:

Investments are stated at cost, less amount written off under Scheme for Reduction of Capital as approved by Hon''ble Calcutta High Court.

E. Revenue Recognition

Revenue is recognised to the extent that it is possible that the economic benefits will flow to the Company and the revenue can be reliably measured.

E.1. Sale of Services consultancy : Income from Services is recognised as per the term of contract contract on accrual basis.

E. 2. Interest Income & Dividend are recognised on cash basis.

F. Expenses

All expenses have been accounted for on accrual basis except interest which is accounted on cash basis. Service tax is being accounted as and when paid.

G. ESTIMATES

The preparation of financial statements in conformity with the generally accepted accounting principles requires management to make estimates and assumption that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the results of operations during the reporting period. Although these estimates are based upon mangement''s best knowledge of current events and actions, actual results could differ from these estimates.

H: Gratuity

The Company has taken Group Gratuity policy from Life Insurance Corporation of India for its employees.

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Mar 31, 2013

A. Basis of Preparation :

The financial statements have been prepared in accordance with generally acccepted accounting principles in India under the historical cost convention on accrual basis. These financial statements have been prepared to comply in all material aspects with the Accounting Standards notified under Section 211(3C) [Companies (Accounting Standards) Rules, 2006, as amended] and the other relevant provisions of the Companies Act. 1956.

B. Fixed Assets:

Fixed Assets are stated at the cost less accumulated depreciation. Cost is inclusive of freight, duties, taxes incidental expenses related to acquisition and also for bringing assets to working for its use.

C. Depreciation:

Depreciation on all assets has been provided on straight line basis as per rates prescribed under Schedule XIV of the Companies Act, 1956 except on Office Premises where depreciation has not been charged. Depreciation is provided on pro-rata basis from the day on which the assets have been put to use.

D. Investments:

Investments are stated at cost, less amount written off under Scheme for Reduction of Capital as approved by Hon''ble Calcutta High Court.

E. Revenue Recognition:

Revenue is recognised to the extent that it is possible that the economic benefits will flow to the Company and the revenue can be reliably measured.

E.1. Sale of Services consultancy : Income from Services is recognised as per the term of contract on accrual basis.

E.2. Interest Income & Dividend are recognised on cash basis.

F. Expenses:

All expenses have been accounted for on accrual basis except interest which is accounted on cash basis. Service tax is being accounted as and when paid.

G. Estimates:

The preparation of financial statements in conformity with the generally accepted accounting principles requires management to make estimates and assumption that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the results of operations during the reporting period. Although these estimates are based upon mangement''s best knowledge of current events and actions, actual results could differ from these estimates.

H. Gratuity:

The Company has taken Group Gratuity policy from Life Insurance Corporation of India for its employees.

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Mar 31, 2012

A. Basis of Preparation :

The financial statements have been prepared in accordance with generally acccepted accounting principles in India under the historical cost convention on accrual basis. These financial statements have been prepared to comply in all material aspects with the Accounting Standards notified under Section 211(3C). [Companies (Accounting Standards) Rules, 2006, as amended] and the other relevant provisions of the Companies Act, 1956.

B. Fixed Assets:

Fixed Assets are stated at the cost less accumulated depreciation. Cost is inclusive of freight, duties, taxes incidental expenses related to acquisition and also for bringing assets to working for its use.

C. Depreciation:

(a) Depreciation on all assets has been provided on straight line basis as per rates prescribed under Schedule XIV of the Companies Act,1956 except on Office Premises where depreciation has not been charged.Depreciation is provided on pro-rata basis from the day on which the assets have been put to use.

D. Investments:

Investments are stated at cost, less amount written off under Scheme for Reduction of Capital as approved by Hon'ble Calcutta High Court.

E. Revenue Recognition:

Revenue is recognised to the extent that it is possible that the economic benefits will flow to the Company and the revenue can be reliably measured.

E. 1. Sale of Services consultancy : Income from Services is recognised as per the term of contract on accrual basis.

E.2. Interest Income & Dividend are recognised on cash basis.

F. Expenses:

All expenses have been accounted for on accrual basis except interest which is accounted on cash basis.

G. Estimates:

The preparation of financial statements in conformity with the generally accepted accounting principles requires management to make estimates and assumption that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the results of operations during the reporting period. Although these estimates are based upon mangement's best knowledge of current events and actions, actual results could differ from these estimates.

I. Gratuity:

The Company has taken Group Gratuity policy from Life Insurance Corporation of India for its employees.

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Mar 31, 2011

1. Accounting Convention :

The Financial Statements have been prepared on historical cost convention and in accordance with normally accepted Accounting Principles.

2. income Recognition:

All Revenues/Incomes except Dividends, Interest on Debentures are recognised on accrual basis of accounting.

3. Expenses :

All expenses have been accounted for on accrual basis except Interest which is accounted on Cash Basis.

4. Fixed Assets :

(a) All Fixed Assets are accounted for at cost inclusive of legal and/or installation and incidental expenses less depreciation.

(b) Depreciation on all assets has been provided on straight line basis as per rates prescribed under Schedule XIV of the Companies Act, 1956 except on Office Premises where depreciation has not been charged.

(c) Depreciation is provided on pro-rata basis from the day on which the assets have been put to use.

5. Investments :

Investments are stated at cost, less amount written off under Scheme for Reduction of Capital as approved by Hon'ble Calcutta High Court.

6. Gratuity:

The Company has taken Group Gratuity Policy from Life Insurance Corporation of India for its employees and contribution relating to previous year liability is being paid in five annual instalments.

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Mar 31, 2010

1. Accounting Convention

The Financial Statements have been prepared on historical cost convention and in accordance with normally accepted

Accounting Principles.

2. Income Recognition

All Revenues/Incomes except Dividends, Interest on Debentures are recognised on accrual basis of accounting.

3. Ex pen BBS

All expenses have been accounted for on accrual basis except Interest which Is accounted on Cash Basis.

4. Fixed Assets

(a) All Fixed Assets are accounted for at cost Inclusive of legal and/or installation and incidental expenses less depreciation.

lb) Depredation on all assets has been provided on straight line basis as per rates prescribed under Schedule XIV of the Companies Act, 1956 except on Office Premises where depreciation has not been charged,

(c) Depredation is provided on pro-rata basis from the day on which the assets have been put to use.

5. Investments

Investments are stated at cost, less amount written oft under Scheme tor Reduction of Capital as approved by Honble

Calcutta High Court.

6. Gratuity

The Company has taken Group Gratuity policy from Life Insurance Corporation of India for its employees and contribution relating to previous year liability is being paid in five annual instalments.