Accounting Policies of Hari Govind International Ltd. Company

Mar 31, 2014

1. The accounts are prepared on accrual basis.

2. Fixed assets are taken at acquisition except the assets which were revalued during the financial year 1993-94. The Gross Block of Assets are Disposed off during the financial year and Income Tax accrued thereon is paid off before the filing of Income Tax return of The Company.

3. Depreciation on fixed assets was not provided during the financial year as the company ceases to operate and there was none of fixed assets during the said financial years.

4. The question of valuation of inventories does not arises as the company ceases to operate in the year 1999-2000 and subsequently the cost of inventories was written off in the financial year 2000-2001.

5. Miscellaneous Expenditure is not amortized during the year.

6. Mining Development expenditure is not amortized during the year.

7. The Company follows the practice of accounting Gratuity when the liability becomes due for payment. No Gratuity has become due for payment during the year under Audit.

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Mar 31, 2012

1. The accounts are prepared on accrual basis.

2. Fixed assets are taken at acquisition cost.

3. Depreciation on fixed assets was not provided during the financial year as the company ceases to operate and there was no use of fixed assets during the said financial years.

4. The question of valuation of inventories does not arises as the company ceases to operate in the year 1999-2000 and subsequently the cost of mventor.es was written off in the financial year 2000-2001.

5. Miscellaneous Expenditure is not amortized during the year.

6. Mining Development expenditure is not amortized during the year.

7. The Company follows the practice of accounting Gratuity when the liability incomes due for payment. No Gratuity has become due for payment during the year under Audit.

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Mar 31, 2011

1. The accounts are prepared on accrual basis.

2. Fixed assets are taken at acquisition cost.

3. Depreciation on fixed assets was not provided during the financial year as the company ceases to operate and there was no use of fixed assets during the said financial years.

4. The question of valuation of inventories does not arises as the company ceases to operate in the year 1999-2000 and subsequently the cost of inventories was written off in the financial year 2000-2001.

5. Miscellaneous Expenditure is not amortized during the year.

6. Mining Development expenditure is not amortized during the year.

7. The Company follows the practice of accounting Gratuity when the liability becomes due for payment. No Gratuity has become due for payment during the year under Audit.

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Mar 31, 2010

1. The accounts are prepared on accrual basis.

2. Fixed assets are taken at acquisition

3. Depreciation on fixed assets was not provided during the financial year as the company ceases to operate and there was no use of fixed assets during the said financial years.

4. The question of valuation of inventories does not arise as the company ceases to operate in the year 1999-2000 and subsequently the cost of inventories was written off in the financial year 2000-2001.

5. Miscellaneous Expenditure is not amortised during the year.

6. Mining Development expenditure is not amortised during the year.

7. The Company follows the practice of accounting Gratuity when the liability becomes due for payment. No Gratuity has become due for payment during the year under Audit.