Accounting Policies of Pro Clb Global Ltd. Company

Mar 31, 2025

Corporate information:

PRO CLB GLOBAL LIMITED (Formerly Known as Provestment Services Limited) is public
limited company listed on Bombay stock exchange and the company was earlier engaged in
diversified business of - Air Ticketing, Tour Operator & Money Changer and providing
professional Services to corporate entities across the globe. But during the FY 2021-22, the
company has changed its name from PROVESTMENT SERVICES LIMITED TO PRO CLB
GLOBAL LIMITED. The company has changed its line of business to the activity of marketing of
various consumer durables and Footwear, Sportswear and Apparels Packaging material, Cosmetics
etc. The company has not started the new business activities and is looking for possible avenues.

Note: 2

Significant Accounting Policies

Set out hereunder are the significant accounting policies adopted by the company in the preparation
of the accounts for the year ended 31st March 2025. There is no material change in accounting
policies of the Company

a) Basis of Accounting:

i) Compliance with Ind AS

The financial statements comply in all material aspect with Indian accounting Standards (Ind AS)
notified under section 133 of the Companies Act, 2013 (the Act) [Companies (Indian Accounting
Standards) Rules,2015] and other relevant provisions of the Act.

The financial statements up-to the year 31st March 2025 were prepared in accordance with the Ind
accounting standards notified Companies (Ind Accounting Standards) Rules, 2016 (as amended)
and other relevant provisions of the Act.

ii) Historical Cost Convention

The accounts of the Company are prepared under the historical cost convention and in accordance
with the applicable accounting standards issued by the Institute of Chartered Accountants of India
and relevant provisions of the Companies Act, 2013 except where otherwise stated. There is no
material change in the accounting policies of the company as compared to the previous year.

iii) Operating Cycle

All assets and liabilities have been classified as current or non-current as per the Company’s normal
operating cycle and other criteria set out in Schedule III to the Companies Act, 2013 and Ind AS-1-

Presentation of Financial Statements based on the nature of services and the time between the
acquisition of assets for processing and their realization in cash and cash equivalents.

iv) Property, Plant and Equipment’s

Property, Plant and Equipment’s are stated at historical cost less depreciation and amortization and
impairment losses, if any. Such cost includes purchase price, borrowing cost inward freight, duties,
taxes and any other cost directly attributable to bringing the assets into its working conditions for its
intended use. Subsequent costs are included in the assets carrying amount only when it is probable
that future economic benefits associated with the item will be realized. All other repairs and
maintenance costs are charged to the statement of Profit and Loss as incurred.

Depreciation Method

Depreciation is provided on property, plant and equipment’s so as write off the cost of assets less
their residual value over their useful life using the straight-line method as specified in Schedule II
of the Companies Act, 2013. Life of Assets has been taken by management is as under: -

v) 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 (if any), will be classified as Investment Property. Investment Property
will be initially measured at cost, including related transactions costs and where applicable
borrowing costs. Subsequent expenditures are capitalized to the assets carrying amount only when it
is probable that future economic benefits associated with the item will be measured reliably. All
other repairs and maintenance costs are charged to the statement of Profit and Loss as incurred.

Investment Properties are depreciated using the straight-line method over their estimated useful
lives. Investment properties generally have a useful life of 30 years.

vi) Intangible Assets

a. In respect of Intangible Assets-Portal depreciation is provided for as per the written down
method over the useful like of assets as specified in schedule II of Companies Act, 2013.

b. In respect of Intangible asset- BSE Listing Rights Company will amortize using the straight¬
line method over 5 years.

vii) Revenue Recognition

Revenue is measured at fair value of the consideration received or receivable. Amount disclosed as
revenue net of returns but exclusive of goods and service tax.

Revenue from sale of services is recognized when the significant risks and rewards of ownership
have been transferred to the buyer, recovery of the consideration is probable, the associated cost can
be estimated reliably, there is no continuing effective control or managerial involvement with the
goods, and the amount of revenue can be measured reliably

viii) Employees benefits:

a) Short Term Obligations

Liabilities for wages and salaries, including non-monetary benefits that are expected to be settled
wholly within 12 months after the end of the period in which the employees ‘s services up -to the
end of the reporting period and measured at the amount expected to be paid when the liabilities are
settled. The liabilities are shown under the head other current liabilities.

b) other employee benefits:

The undiscounted amount of short-term employee benefits expected to be paid in exchange for the
service rendered by employees is recognized during the period when employees render the service.

Proper provision made for gratuity and provident fund by the company for post-employment.
Provision of gratuity is not certified by the Actuarial.

c) Post-employment benefits plans:

The Company operates the following post-employment schemes:

• Defined benefit plans such as gratuity and

• Defined contribution plans such as provident fund and pension scheme

ix) Financial Instruments

A. Initial recognition and measurement

All financial assets and liabilities are initially recognized at fair value. Transaction costs that are
directly attributable to the acquisition or issue of financial assets and financial liabilities, which are
not at fair value through profit or loss, are adjusted to the fair value on initial recognition. Purchase
and sale of financial assets are recognized using trade date accounting.

B. Subsequent measurement
Debt Instrument

• Financial assets carried at amortized cost (AC)

A financial asset is measured at amortized cost if it is held within a business model whose objective
is to hold the asset in order to collect contractual cash flows and the contractual terms of the
financial asset give rise on specified dates to cash flows that are solely payments of principal and
interest on the principal amount outstanding.

• Financial assets at fair value through other comprehensive income (FVTOCI)

A financial asset is measured at FVTOCI if it is held within a business model whose objective is
achieved by both collecting contractual cash flows and selling financial assets and the contractual

terms of the financial asset give rise on specified dates to cash flows that are solely payments of
principal and interest on the principal amount outstanding.

• Financial assets at fair value through profit or loss (FVTPL)

A financial asset which is not classified in any of the above categories is measured at FVTPL.

Equity Instruments

The Company subsequently measures all equity investments at fair value. Where the company’s
management has elected to present fair value gains and losses on equity investments in other
comprehensive income, there is no subsequent reclassification of fair value gains or losses to profit
or loss as other income when the company rights to receive payment is established.

Changes in the fair value of financial assets at fair value through profit or loss are recognized in
other gain/ losses in the statement of profit and loss. Impairment losses (and reversal of impairment
losses) on equity investment measured at FVOCI are not reported separately from other changes in
fair value.

C. Derecognition of financial instruments
A financial asset is derecognized only when:

• The company has transferred the rights to receive cash flows from the financial assets or

• Retains the contractual rights to receive the cash flows of the financial assets but assumes
contractual obligations to pay the cash flows to one or more recipients.

Where the company transferred the financial assets, the company evaluates whether it has
transferred substantially all risks and reward of ownership of the financial assets. In such cases, the
financial asset is derecognized. Where the entity has not transferred substantially all risks and
rewards of the ownership of the financial assets, the financial assets is not derecognized.

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Mar 31, 2024

Note: 1

Corporate information:

PRO CLB GLOBAL LIMITED (Formerly Known as Provestment Services Limited) is public limited company listed on Bombay stock exchange and the company was earlier engaged in diversified business of - Air Ticketing, Tour Operator & Money Changer and providing professional Services to corporate entities across the globe. But during the FY 2021-22, the company has changed its name from PROVESTMENT SERVICES LIMITED TO PRO CLB GLOBAL LIMITED. The company has changed its line of business to the activity of marketing of various consumer durables and Footwear, Sportswear and Apparels Packaging material, Cosmetics etc. The company has not started the new business activities and is looking for possible avenues.

Note: 2

Significant Accounting Policies

Set out hereunder are the significant accounting policies adopted by the company in the preparation of the accounts for the year ended 31st March 2024. There is no material change in accounting policies of the Company

a) Basis of Accounting:

i) Compliance with Ind AS

The financial statements comply in all material aspect with Indian accounting Standards (Ind AS) notified under section 133 of the Companies Act, 2013 (the Act) [Companies (Indian Accounting Standards) Rules,2015] and other relevant provisions of the Act.

The financial statements up-to the year 31st March 2024 were prepared in accordance with the Ind accounting standards notified Companies (Ind Accounting Standards) Rules, 2016 (as amended) and other relevant provisions of the Act.

ii) Historical Cost Convention

The accounts of the Company are prepared under the historical cost convention and in accordance with the applicable accounting standards issued by the Institute of Chartered Accountants of India and relevant provisions of the Companies Act, 2013 except where otherwise stated. There is no material change in the accounting policies of the company as compared to the previous year.

iii) Operating Cycle

All assets and liabilities have been classified as current or non-current as per the Company’s normal operating cycle and other criteria set out in Schedule III to the Companies Act, 2013 and

Ind AS-1- Presentation of Financial Statements based on the nature of services and the time between the acquisition of assets for processing and their realization in cash and cash equivalents.

Property, Plant and Equipment’s

Property, Plant and Equipment’s are stated at historical cost less depreciation and amortization and impairment losses, if any. Such cost includes purchase price, borrowing cost inward freight, duties, taxes and any other cost directly attributable to bringing the assets into its working conditions for its intended use. Subsequent costs are included in the assets carrying amount only when it is probable that future economic benefits associated with the item will be realized. All other repairs and maintenance costs are charged to the statement of Profit and Loss as incurred.

Depreciation Method

Depreciation is provided on property, plant and equipment’s so as write off the cost of assets less their residual value over their useful life using the straight-line method as specified in Schedule II of the Companies Act, 2013. Life of Assets has been taken by management is as under: -

Assets	Life (In Years)
Furniture and Fittings	10
Motor Vehicles- Car, Bikes, etc.	10
Office Equipment’s	5
Computer, Laptops, etc.	3

Gain/ losses on disposables are determined by comparing proceeds with carrying amount. These are included in profit or loss within other gains/ (losses).

v) 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 (if any), will be classified as Investment Property. Investment Property will be initially measured at cost, including related transactions costs and where applicable borrowing costs. Subsequent expenditures are capitalized to the assets carrying amount only

when it is probable that future economic benefits associated with the item will be measured reliably. All other repairs and maintenance costs are charged to the statement of Profit and Loss as incurred.

Investment Properties are depreciated using the straight-line method over their estimated useful lives. Investment properties generally have a useful life of 30 years.

vi) Intangible Assets

a. In respect of Intangible assets-Portal depreciation is provided for as per the written down method over the useful like of assets as specified in schedule II of Companies Act, 2013.

b. In respect of Intangible asset- BSE Listing Rights Company will amortize using the straight-line method over 5 years.

vii) Revenue Recognition

Revenue is measured at fair value of the consideration received or receivable. Amount disclosed as revenue net of returns but exclusive of goods and service tax.

Revenue from sale of services is recognized when the significant risks and rewards of ownership have been transferred to the buyer, recovery of the consideration is probable, the associated cost can be estimated reliably, there is no continuing effective control or managerial involvement with the goods, and the amount of revenue can be measured reliably

viii) Employees benefits:

a) Short Term Obligations

Liabilities for wages and salaries, including non-monetary benefits that are expected to be settled wholly within 12 months after the end of the period in which the employees ‘s services up-to the end of the reporting period and measured at the amount expected to be paid when the liabilities are settled. The liabilities are shown under the head other current liabilities.

b) other employee benefits:

The undiscounted amount of short-term employee benefits expected to be paid in exchange for the service rendered by employees is recognized during the period when employees render the service.

Proper provision made for gratuity and provident fund by the company for post-employment. Provision of gratuity is not certified by the Actuarial.

c) Post-employment benefits plans:

The Company operates the following post-employment schemes:

• Defined benefit plans such as gratuity and

• Defined contribution plans such as provident fund and pension scheme

ix) Financial Instruments

A. Initial recognition and measurement

All financial assets and liabilities are initially recognized at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities, which are not at fair value through profit or loss, are adjusted to the fair value on initial recognition. Purchase and sale of financial assets are recognized using trade date accounting.

B. Subsequent measurement Debt Instrument

• Financial assets carried at amortized cost (AC)

A financial asset is measured at amortized cost if it is held within a business model whose objective is to hold the asset in order to collect contractual cash flows and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

• Financial assets at fair value through other comprehensive income (FVTOCI)

A financial asset is measured at FVTOCI if it is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

• Financial assets at fair value through profit or loss (FVTPL)

A financial asset which is not classified in any of the above categories is measured at FVTPL. Equity Instruments

The Company subsequently measures all equity investments at fair value. Where the company’s management has elected to present fair value gains and losses on equity investments in other comprehensive income, there is no subsequent reclassification of fair value gains or losses to profit or loss as other income when the company rights to receive payment is established.

Changes in the fair value of financial assets at fair value through profit or loss are recognized in other gain/ losses in the statement of profit and loss. Impairment losses (and reversal of impairment losses) on equity investment measured at FVOCI are not reported separately from other changes in fair value.

C. Derecognition of financial instruments A financial asset is derecognized only when:

• The company has transferred the rights to receive cash flows from the financial assets or

• Retains the contractual rights to receive the cash flows of the financial assets but assumes contractual obligations to pay the cash flows to one or more recipients.

Where the company transferred the financial assets, the company evaluates whether it has transferred substantially all risks and reward of ownership of the financial assets. In such cases, the financial asset is derecognized. Where the entity has not transferred substantially all risks and rewards of the ownership of the financial assets, the financial assets is not derecognized.

Where the company retains control of the financial assets, the asset is continued to be recognized to the extent of continuing involvement in the financial assets.

x) Earnings per share

Earnings per share is calculated by dividing the profit attributable to owners of the company by the weighted average number of equities shares outstanding during the financial year.

xi) Taxes on Income

Current Income Tax

Current Income tax is determined on the basis of taxable income in accordance with the provisions of Income Tax Act 1961.

Deferred Tax

Deferred Tax liability / assets resulting from time difference between accounting income and the taxable income is accounted from considering the tax rate and the laws that have been enacted or substantively enacted as on the reported date.

Deferred tax is recognized and carried forward only, to the extent that is reasonable certainty that the assets will be released in future. Deferred tax assets are reviewed at each reporting period.

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Mar 31, 2015

1. Corporate information :

Provestment Services Limited is engaged in dealing of Air Ticketing, Tour Operator &Money Changer and providing professional Services to corporate entities across the globe. The company was incorporated in the year 1994.

Set out hereunder are the significant accounting policies adopted by the company in the preparation of the accounts for the year ended 31st March, 2015. There is no material change in accounting policies of the Company

a) Basis of Accounting:

The accounts of the Company are prepared under the historical cost convention and in accordance with the applicable accounting standards issued by the Institute of Chartered Accountants of India and relevant provisions of the Companies Act, 2013 except where otherwise stated. There is no material change in the accounting policies of the company as compared to the previous year.

b) Fixed Assets and Depreciation:

Fixed Assets are stated at historical cost less depreciation. Depreciation is provided on fixed Assets on Straight Line Method according to useful life prescribed in Schedule II of the Companies Act, 2013. Depreciation provided on web portal under intangible assets as per AS 26i.e. on "Intangible Assets".

c) Employees benefits:

Contribution to defined contribution retirement benefits scheme is recognized as an expense when employees have rendered services entitling them to contributions.

The undiscounted amount of short-term employee benefits expected to be paid in exchange for the service rendered by employees is recognized during the period when employees renders the service. Provision has been made for gratuity by the company for post employment by management and no actuarial valuation has been done in accordance with the AS-15.No provision has been made for Bonus under the Bonus Act, 1962

d) Revenue Recognition:

Mercantile system of accountings is followed.

e) Contingent Liabilities:

Contingent Liabilities are determined on the basis of available information and if any disclosed by way of notes to the accounts.

f) Insurance/ Claims

The company covers all the normal risks on the basis of cost for the fixed assets and Inventories. The premium pertaining to the year is charged against the revenue of the year.

Insurance claims lodged by the company will be adjusted as and when the final amount will be determined by the Insurance Companies

g) Stock in Trade:

Valuation of Stock in Trade done as follows:

a. For Stock-In-Trade (Equity Shares) -Unquoted Share at cost.

Quoted Share at cost or market price whichever is lower.

b. Stock-In-Trade (foreign currency) of money changing business. -Valued at prevailing Bank Mean Rate at close of the year.

h) Deferred Tax Deferred tax resulting from timing difference between book profit and tax profit is accounted for at the current tax rate without surcharge and in compliance with the Accounting Standard 22 "Accounting for Taxes on Income" issued by The Institute of Chartered Accountants of India. Deferred Tax assets and liabilities are measured using tax rates and tax laws that have been enacted or substantively enacted by the balance sheet date. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the profit and loss account in the year of change. Deferred tax assets and deferred tax liabilities are recognized for the future tax consequences attributable to differences between the financial statements carrying amounts of exiting assets and liabilities

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Mar 31, 2014

Set out hereunder are the significant accounting policies adopted by the company in the preparation of the accounts for the year ended 31st March, 2014. There is no material change in accounting policies of the Company

a) Basis of Accounting:

The accounts of the Company are prepared under the historical cost convention and in accordance with the applicable accounting standards issued by the Institute of Chartered Accountants of India and relevant provisions of the Companies Act, 1956 except where otherwise stated. There is no material change in the accounting policies of the company as compared to the previous year.

b) Fixed Assets and Depreciation: 4

Fixed Assets are stated at historical cost less depreciation. Depreciation is provided on fixed Assets on Straight Line Method at the rates prescribed in Schedule XIV of the Companies Act, 1956. Depreciation provided on web portal under intangible assets at the rates prescribed for ''data processing'' under schedule XIV of the Companies Act on Straight Line Method.

c) Employees benefits:

i)Post-employment benefits plans :

Contribution to defined contribution retirement benefits scheme is recognized as an expense when employees have rendered services entitling them to contributions.

ii)Other employee benefits :

The undiscounted amount of short-term employee benefits expected to be paid in exchange for the service rendered by employees is recognized during the period when employees renders the service. Proper provision made for gratuity and provident fund by the company for post employment.

d) Revenue Recognition:

Mercantile system of accountings is followed.

e) Contingent Liabilities:

Contingent Liabilities are determined on the basis of available information and if any disclosed by way of notes to the accounts.

f) Insurance/ Claims

The company covers all the normal risks on the basis of cost for the fixed assets and Inventories. The premium pertaining to the year is charged against the revenue of the year. Insurance claims lodged by the company will be adjusted as and when the final amount will be determined by the Insurance Companies

g) Stock in Trade:

Valuation of Stock in Trade done as follows:

a. For Stock-In-Trade (Equity Shares) -Unquoted Share at cost.

-Quoted Share at cost or market price whichever is lower.

b. Stock-In-Trade (foreign currency) of money changing business.

-Valued at prevailing Bank Mean Rate at close of the year.

h) Deferred Tax Deferred tax resulting from timing difference between book profit and tax profit is accounted for at the current tax rate without surcharge and in compliance with the Accounting Standard 22 "Accounting for Taxes on Income" issued by The Institute of Chartered Accountants of India. Deferred Tax assets and liabilities are measured using tax rates and tax laws that have been enacted or substantively enacted by the balance sheet date. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the profit and loss account in the year of change. Deferred tax assets and deferred tax liabilities are recognized for the future tax consequences attributable to differences between the financial statements carrying amounts of exiting assets and liabilities.

3.27) Previous year figures:

The previous year''s figures have been reworked, regrouped, rearranged and reclassified wherever considered necessary to make their classification comparable with that of the current year.

3.28) Contingent Liabilities

The Company has given a guarantee, in favour of Pro Labels Private Limited, with respect to a loan of EUR 3,63,000 (Equivalent INR 2,98,30,200 as on 31.03.2014) taken to import machinery.

3.29) Loans (Secured and Unsecured)

Secured Loans:

i) ODP Loans & Term Loan from Punjab & Sind Bank is secured against all current & fixed assets. The loan is guaranteed by two directors of the company and corporate guarantees of M/s Chaitali Exports Pvt Ltd.

ii) The vehicle loans are secured by way of hypothecation of vehicles. Unsecured Loans:

The company has taken loan from India Bull Financial Services Limited against the security of the properties of Directors and also guaranteed by the Directors of the Company. The balance outstanding as on 31.03.2014 amounting Rs. 257.68 lacs.

3. 30) Provision of Income Tax:

Provision of Rs.13,79,630/- on account of Income Tax has been made for the year.

3.33) The Current Assets, loans & Advances have a value on realization in the ordinary course of business at least equal to the amount at which they have been stated in the balance sheet.

3.34) Money Received against Share Warrants

(a) Issue of 5, 91,176 convertible equity warrants on preferential basis to Bennett Coleman & Co. Limited (BCCL):

During the year 2012-2013, Company has made Preferential Allotment of 591176 convertible Equity Share Warrants to BCCL of Rs. 10/- each at a Premium of Rs.58.57/- per warrants issued as per SEBI, ICDR Regulations, 2009 against which 25% Warrant Subscription Amount i.e. Rs. 1,01,34,234.58/- (Rupees One Crore One Lakh Thirty Four Thousand Two Hundred Thirty Four and paise Fifty Eight Only).

In the event if BCCL does not exercise its option to exercise all the Warrants within the Warrant Exercise Period i.e. within 18 months, the Warrant Subscription Amount shall be forfeited by the Company and the Warrants shall lapse.

(b) Description of Contract for Advertisement

During the year 2012-2013 the Company has entered into an agreement with Bennett Coleman & Co. Limited (BCCL) to advertise on non exclusive basis only, the Products, Services and Brands owned and exclusively used by the Company, by print and non print media. The Company has given a Deposit of Rs. 101.34 Lacs to BCCL for the advertisement for Company''s brand building.

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Mar 31, 2013

Set out hereunder are the significant accounting policies adopted by the company in the preparation of the accounts for the year ended 31st March, 2013. There is no material change in accounting policies of the Company

a) Basis of Accounting:

The accounts of the Company are prepared under the historical cost convention and in accordance with the applicable accounting standards issued by the Institute of Chartered Accountants of India and relevant provisions of the Companies Act, 1956 except where otherwise stated. There is no material change in the accounting policies of the company as compared to the previous year.

b) Fixed Assets and Depreciation:

Fixed Assets are stated at historical cost less depreciation. Depreciation is provided on fixed Assets on Straight Line Method at the rates prescribed in Schedule XIV of the Companies Act, 1956. Depreciation provided on web portal under intangible assets at the rates prescribed for ''data processing'' under schedule XIV of the Companies Act on Straight Line Method.

c) Employees benefits:

i)Post-employment benefits plans :

Contribution to defined contribution retirement benefits scheme are recognized as an expense when employees have rendered services entitling them to contributions.

ii)Other employee benefits :

The undiscounted amount of short-term employee benefits expected to be paid in exchange for the service rendered by employees is recognized during the period when employees renders the service. Proper provision made for gratuity and provident fund by the company for post employment.

d) Revenue Recognition:

Mercantile system of accountings is followed.

e) Contingent Liabilities:

Contingent Liabilities are determined on the basis of available information and if any disclosed by way of notes to the accounts.

f) Insurance/ Claims

The company covers all the normal risks on the basis of cost for the fixed assets and Inventories. The premium pertaining to the year is charged against the revenue of the year. Insurance claims lodged by the company will be adjusted as and when the final amount will be determined by the Insurance Companies

g) Stock in Trade:

Valuation of Stock in Trade done as follows:

a. For Stock-In-Trade (Equity Shares) -Unquoted Share at cost.

-Quoted Share at cost or market price whichever is lower.

b. Stock–In-Trade (foreign currency) of money changing business. -Valued at prevailing Bank Mean Rate at close of the year.

h) Deferred Tax Deferred tax resulting from timing difference between book profit and tax profit is accounted for at the current tax rate without surcharge and in compliance with the Accounting Standard 22 "Accounting for Taxes on Income” issued by The Institute of Chartered Accountants of India. Deferred Tax assets and liabilities are measured using tax rates and tax laws that have been enacted or substantively enacted by the balance sheet date. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the profit and loss account in the year of change. Deferred tax assets and deferred tax liabilities are recognized for the future tax consequences attributable to differences between the financial statements carrying amounts of exiting assets and liabilities.

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Mar 31, 2012

Set out hereunder are the significant accounting policies adopted by the company in the preparation of the accounts for the year ended 31st March, 2012. There is no material change in accounting policies of the Company

a) Basis of Accounting:

The accounts of the Company are prepared under the historical cost convention and in accordance with the applicable accounting standards issued by the Institute of Chartered Accountants of India and relevant provisions of the Companies Act, 1956 except where otherwise stated. There is no material change in the accounting policies of the company as compared to the previous year.

b) Fixed Assets and Depreciation:

Fixed Assets are stated at historical cost less depreciation. Depreciation is provided on fixed Assets on Straight Line Method at the rates prescribed in Schedule XIV of the Companies Act, 1956. Depreciation provided on web portal under intangible assets at the rates prescribed for 'data processing' under schedule XIV of the Companies Act on Straight Line Method.

c) Employees benefits:

i) Post-employment benefits plans :

Contribution to defined contribution retirement benefits scheme are recognised as an expense when employees have rendered services entitling them to contributions.

ii) Other employee benefits :

The undiscounted amount of short-term employee benefits expected to be paid in exchange for the service rendered by employees is recognized during the period when employees renders the service. Proper provision made for gratuity and provident fund by the company for post employment.

d) Revenue Recognition:

Mercantile system of accountings is followed.

e) Contingent Liabilities:

Contingent Liabilities are determined on the basis of available information and if any disclosed by way of notes to the accounts.

f) Insurance/ Claims

The company covers all the normal risks on the basis of cost for the fixed assets and Inventories. The premium pertaining to the year is charged against the revenue of the year. Insurance claims lodged by the company will be adjusted as and when the final amount will be determined by the Insurance Companies

g) Stock in Trade:

Valuation of Stock in Trade done as follows:

a. For Stock-In-Trade (Equity Shares)

- Unquoted Share at cost.

- Quoted Share at cost or market price whichever is lower.

b. Stock-In-Trade (foreign currency) of money changing business.

- Valued at prevailing Bank Mean Rate at close of the year.

h) Deferred Tax

Deferred tax resulting from timing difference between book profit and tax profit is accounted for at the current tax rate without surcharge and in compliance with the Accounting Standard 22 "Accounting for Taxes on Income" issued by The Institute of Chartered Accountants of India. Deferred Tax assets and liabilities are measured using tax rates and tax laws that have been enacted or substantively enacted by the balance sheet date. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the profit and loss account in the year of change. Deferred tax assets and deferred tax liabilities are recognized for the future tax consequences attributable to differences between the financial statements carrying amounts of exiting assets and liabilities.

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Mar 31, 2011

Set out hereunder are the significant accounting policies adopted by the company in the preparation of the accounts for the year ended 31st March, 2011. There is no material change in accounting policies of the Company

a) Basis of Accounting:

The accounts of the Company are prepared under the historical cost convention and in accordance with the applicable ac- counting standards issued by the Institute of Chartered Accountants of India and relevant provisions of the Companies Act, 1956 except where otherwise stated. There is no material change in the accounting policies of the company as compared to the previous year.

b) Fixed Assets and Depreciation:

Fixed Assets are stated at historical cost less depreciation. Depreciation is provided on fixed Assets on Straight Line Method at the rates prescribed in Schedule XIV of the Companies Act, 1956.

c) Inventories:

Inventories are valued as follows:

a. For Stock-In-Trade (Equity Shares)

- Unquoted Share at cost.

- Quoted Share at cost or market price whichever is lower.

b. Stock -In -Trade (foreign currency) of money changing business.

- Valued at prevailing Bank Mean Rate at close of the year.

d) Revenue Recognition:

Mercantile system of accounting is followed.

e) Contingent Liabilities:

Contingent Liabilities are determined on the basis of available information and if any disclosed by way of notes to the accounts.

f) Insurance/ Claims

The company covers all the normal risks on the basis of cost for the fixed assets and Inventories. The premium pertaining to the year is charged against the revenue of the year.

Insurance claims lodged by the company will be adjusted as and when the final amount will be determined by the Insurance Companies

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Mar 31, 2010

Set out hereunder are the significant accounting policies adopted by the company in the preparation of the accounts for the year ended 31st March, 2010. There is no material change in accounting policies of the Company.

a) Basis of Accounting:

The accounts of the Company are prepared under the historical cost convention and in accordance with the applicable account- ing standards issued by the Institute of Chartered Accountants of India and relevant provisions of the Companies Act, 1956 ex- cept where otherwise stated. There is no material change in the accounting policies of the company as compared to the previous year.

b) Fixed Assets and Depreciation:

Fixed Assets are stated at historical cost less depreciation. Depreciation is provided on fixed Assets on Straight Line Method at the rates prescribed in Schedule XIV of the Companies Act, 1956.

c) Inventories:

Inventories are valued as follows:

a. For Stock-In-Trade (Equity Shares)

- Unquoted Share at cost.

- Quoted Share at cost or market price whichever is lower.

b. Stock–In-Trade (foreign currency) of money changing business.

- Valued at prevailing Bank Mean Rate at close of the year.

d) Revenue Recognition:

Mercantile system of accounting is followed.

e) Contingent Liabilities:

Contingent Liabilities are determined on the basis of available information and if any disclosed by way of notes to the accounts.

f) Insurance/ Claims

The company covers all the normal risks on the basis of cost for the fixed assets and Inventories. The premium pertaining to the year is charged against the revenue of the year.

Insurance claims lodged by the company will be adjusted as and when the final amount will be determined by the Insurance Companies