Bajaj Global Ltd. कंपली की लेखा नीति

Mar 31, 2025

1. CORPORATE INFORMATION

Bajaj Global Limited ("the Company") is a public limited company domiciled and incorporated in India and its shares are publicly traded on the Bombay Stock Exchange ("BSE"). The registered office of the company is situated at Imambada Road, Nagpur - 440 018.

The principal business activities of the company is lending of loans. The Company is a nonbanking financial company (NBFC) registered with the Reserve Bank of India (RBI) with effect from 20th day ofApril, 1998.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES2.1 Basis of preparation

The financial statements (Separate financial statements) have been prepared on accrual basis in accordance with Indian Accounting Standards (Ind AS) notified under the Companies (Indian Accounting Standards) Rules, 2015 and the provisions of the Companies Act, 2013.

The financial statements have been prepared on a historical cost basis, except for certain financial assets and liabilities which have been measured at fair value (refer accounting policy regarding financial instruments).

The financial statements are presented in Indian Rupees ("INR" or "''") and all amounts are rounded to the nearest lacs, except as stated otherwise.

2.2 Estimates and Judgements

The preparation of the financial statements in conformity with Ind AS requires management to make estimates, judgments and assumptions. These estimates, judgments and assumptions effect the application of accounting policies and the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the period. Application of accounting policies that require critical accounting estimates involving complex and subjective judgments and the use of assumptions in these financial statements have been disclosed in note 2.3(a). Accounting estimates could change from period to period. Actual results may differ from those estimates. Appropriate changes in estimates are made as management becomes aware of changes in circumstances surrounding the estimates. Changes in estimates are reflected in the financial statements in the period in which changes are made and, if material, their effects are disclosed in the notes to the financial statements.

2.3 Presentation of financial statements

The Company presents its Balance Sheet in order of liquidity.

The Company generally reports financial assets and financial liabilities on a gross basis in the Balance Sheet. They are offset and reported net only when Ind AS specifically permits the same or it has an unconditional legally enforceable right to offset the recognised amounts without being contingent on a future event. Similarly, the Company offsets incomes and expenses and reports the same on a net basis when permitted by Ind AS specifically unless they are material in nature.

This note provides a list of the significant accounting policies adopted in the preparation of these financial statements.

These policies have been consistently applied to all the years presented, unless otherwise stated.

(A) Income

(I) Interest Income

The Company recognises interest income using Effective Interest Rate (EIR) on all financial assets subsequently measured at amortised cost or fair value through other comprehensive income (FVOCI). EIR is calculated by considering all costs and incomes attributable to acquisition of a financial asset or assumption of a financial liability and it represents a rate that exactly discounts estimated future cash payments/receipts through the expected life of the financial asset/financial liability to the gross carrying amount of a financial asset or to the amortised cost of a financial liability.

(II) Dividend income

Dividend income on equity shares is recognised when the Company''s right to receive the payment is established, which is generally when shareholders approve the dividend.

(III) Leases Income Company as a lessor:

Rental income from operating lease is recognised on a straight-line basis over the term of the relevant lease, unless the receipts are structured to increase in line with expected general inflation.

(IV) Other revenue from operations

Other revenue from operations is accounted for on accrual basis except, where the receipt of income is uncertain. 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 received. Revenue is measured at the fair value of the consideration received or receivable, taking into account contractually defined terms of payment and excluding taxes, duties or other charges collected on behalf ofthe government/authorities.

(V) Other Income

Other Income is accounted for on accrual basis except, where the receipt of income is uncertain.

(B) Expenditures(i) Finance costs

Borrowing costs on financial liabilities are recognised using the EIR.

(ii) Employee benefits Short Term employee benefits

Liabilities for wages, salaries and other employee benefits that are expected to be settled within twelve months of rendering the service by the employees are classified as short-term employee benefits. Such short-term employee benefits are measured at the amounts expected to be paid when the liabilities are settled

(iii) Taxes Current Tax

The current tax expense for the period is determined as the amount of tax payable in respect of taxable income for the period, based on the applicable income tax rates.

Current tax relating to items recognised in other comprehensive income or equity is recognised in other comprehensive income or equity, respectively.

Deferred Tax

Deferred tax is provided using the liability method on temporary differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the reporting date.

Deferred tax liabilities are recognised for all taxable temporary differences. Deferred tax assets are recognised for all deductible temporary differences and, the carry forward of unused tax credits and any unused tax losses. Deferred tax assets are recognised to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, the carry forward of unused tax credits and unused tax losses can be utilised.

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 at the reporting date.

Deferred tax relating to items recognised in other comprehensive income or equity is recognised in other comprehensive income or equity, respectively.

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.

(C ) ASSETS AND LIABILITIES(i) Provisions, Contingent Liabilities and Contingent Assets

A provision is recognised when the company has present determined obligations as a result of past events and an outflow of resources embodying economic benefits will be required to settle the obligations. Provisions are recognised at the best estimate ofthe expenditure required to settle the present obligation at the balance sheet date.

If the effect of the time value of money is material, provisions are discounted using a current pre tax rate that reflects, where appropriate, the risks specific to the liability. Where discounting is used, the increase in the provision due to the passage of time is recognised as a finance cost.

A Contingent liability is not recognised but disclosed in the notes to the accounts, unless the probability of an outflow ofresources is remote.

A contingent asset is generally neither recognised nor disclosed.

(ii) Earnings per share

The Basic earnings per share (EPS) is calculated by dividing the net profit or loss for the year attributable to the equity shareholders by the weighted average number of equity shares outstanding during the year.

For the purpose of calculating Diluted earnings per share, the net profit or loss for the year attributable to the equity shareholders and the weighted average number of equity shares outstanding during the year are adjusted for the effects of all dilutive potential equity shares.

(iii) Cash and Cash Equivalent

Cash and cash equivalent in the balance sheet comprise cash at banks and on hand and short-term deposits maturing within twelve months from the date of balance Sheet, which are subject to an insignificant risk of changes in value. Bank overdrafts are shown under borrowings in the balance sheet.

(iv) Financial Instruments

A. Financial Instruments - Initial recognition and measurement A financial instrument is defined as any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. Trade receivables and payables, loan receivables, investments in securities and subsidiaries, debt securities and other borrowings, preferential and equity capital etc. are some examples of financial instruments.

Financial assets and financial liabilities are recognised in the company''s statement of financial position when the company becomes a party to the contractual provisions of the instrument. The company determines the classification of its financial assets and liabilities at initial recognition. All financial assets are recognised initially at fair value plus, in the case of financial assets not

recorded at fair value through profit or loss, transaction costs that are attributable to the acquisition ofthe financial asset.

B.1. Financial assets -Subsequent measurement

The Subsequent measurement of financial assets depends on their classification which is as follows:

a. Financial assets at fair value through profit or loss

Financial assets at fair value through profit and loss include financial assets held for sale in the near term and those designated upon initial recognition at fair value through profit or loss.

b. Financial assets measured at amortised cost

Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Trade receivables generally do not carry any interest and are stated at their nominal value as reduced by appropriate allowance for estimated irrecoverable amounts based on the ageing of the receivables balance and historical experience. Additionally, a large number of minor receivables are grouped into homogenous groups and assessed for impairment collectively. Individual trade receivables are written off when management deems them not to be collectible.

c. Financial assets at fair value through OCI

All equity investments, except investments in subsidiaries, joint ventures and associates, falling within the scope of Ind AS 109, are measured at fair value through Other Comprehensive Income (OCI). The company makes an irrevocable election on an instrument by instrument basis to present in other comprehensive income subsequent changes in the fair value. The classification is made on initial recognition and is irrevocable.

If the company decides to designate an equity instrument at fair value through OCI, then all fair value changes on the instrument, excluding dividends, are recognized in the OCI.

B. 2. Financial assets -Derecognition

The company derecognises a financial asset when the contractual rights to the cash flows from the assets expire or it transfers the financial asset and substantially all the risks and rewards of ownership of the asset.

Upon derecognition of equity instruments designated at fair value through OCI, the associated fair value changes of that equity instrument is transferred from OCI to Retained Earnings.

C. Investment in subsidiaries, joint ventures and associates

Investments made by the company in subsidiaries, joint ventures and associates are measured at cost in the separate financial statements ofthe company.

D.1. Financial liabilities -Subsequent measurement

The Subsequent measurement of financial liabilities depends on their classification which is as follows:

a. Financial liabilities at fair value through profit or loss

Financial liabilities at fair value through profit or loss include financial liabilities held for trading, if any.

b. Financial liabilities measured at amortised cost

Financial liabilities include liabilities that represent a contractual obligation to deliver cash or another financial assets to another entity, or a contract that may or will be settled in the entities own equity instruments. Few examples of financial liabilities are trade payables, debt securities and other borrowings and subordinated debts.

Interest bearing loans and borrowings taken by the company are subsequently measured at amortised cost using the effective interest rate method (EIR). Amortised cost is calculated by taking into account any discount or premium on acquisition and fee or costs that are integral part ofthe EIR. The EIR amortised is included in finance costs in the statement ofprofit and loss.

D. 2. Financial liabilities -Derecognition

A financial liability is derecognised when the obligation under the liability is discharged or expires.

E. Offsetting financial instruments

Financial assets and financial liabilities are offset and the net amount reported in the statement of financial position, if and only if, there is a currently enforceable legal right to offset the recognised amounts and there is an intention to settle on a net basis, or to realise the assets and settle the liabilities simultaneously.

F. Fair value measurement

The company measures certain financial instruments at fair value at each reporting date. 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 presumption that the transaction to sell the asset or transfer the liability takes place either:

• In the principal market for the assets 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 to the company.

The company uses valuation technique 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.

(v) Property, Plant and Equipment

Property, plant and equipment are carried at historical cost of acquisition less accumulated depreciation and impairment losses, consistent with the criteria specified in Ind AS 16 ''Property, Plant and Equipment''.

The cost of an item of property, plant and equipment comprises of its purchase price, any costs directly attributable to its acquisition, borrowing costs (wherever applicable). Subsequent costs are included in the asset''s carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the company and the cost of the item can be measured reliably. All other repairs and maintenance are charged to profit or loss during the reporting period in which they are incurred.

Depreciation on property, plant and equipment is calculated using Written Down Value method. An item of property, plant and equipment and any significant part initially recognised is derecognised upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss arising on derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included under other income in the Statement of Profit and Loss when the asset is derecognised. 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.

The useful lives have been determined based on technical evaluation done by the management''s experts, which is same as the lives as specified by Schedule II to the Companies Act, 2013. The residual values are not more than 5% of the original cost/deemed cost of the asset. The asset'' residual values and useful lives are reviewed, and adjusted if appropriate, at the end of each reporting period.

(vi) Impairment of non-financial assets

An assessment is done at each Balance Sheet date to ascertain whether there is any indication that an asset may be impaired. If any such indication exists, an estimate of the recoverable amount of asset is determined. If the carrying value of relevant asset is higher than the recoverable amount, the carrying value is written down accordingly.

(vii) Non-current assets held for sale

Non-current assets are classified as held for sale if their carrying amount will be recovered principally through a sale transaction rather than through continuing use and a sale is considered highly probable. They are measured at the lower of their carrying amount and fair value less costs to sell.

Non-current assets classified as held for sale and their related liabilities are presented separately in the balance sheet. Non-current assets are not depreciated or amortised while they are classified as held for sale.

(viii) Exceptional items

Exceptional items refer to items of income or expense within statement of profit and loss from ordinary activities which are non-recurring and are of such size, nature or incidence that their separate disclosure is considered necessary to explain the performance ofthe company.

(ix) Impairment of assets

The company assesses, at each reporting date, whether there is an indication that an asset may be impaired. If any indication exists, or when annual impairment testing for an asset is required, the company estimates the asset''s recoverable amount. An asset''s recoverable amount is the higher of an asset''s or cash-generating unit''s (CGU) fair value less costs of disposal and its value in use. Recoverable amount is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or groups of assets. When the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount.

In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. In determining fair value less costs of disposal, recent market transactions are taken into account. If no such transactions can be identified, an appropriate valuation model is used.

Impairment losses of continuing operations, including impairment on inventories, are recognised in the statement ofprofit and loss.

2.3 (a) Critical accounting estimates and judgements

The preparation of the Company''s financial statements requires Management to make use of estimates and judgments. In view of the inherent uncertainties and a level of subjectivity involved in measurement of items, it is possible that the outcomes in the subsequent financial years could differ from those on which the Management''s estimates are based. Accounting estimates and judgments are used in various line items in the financial statements for e.g.:

• Business model assessment

• Fair value of financial instruments

• Effective Interest Rate (EIR)

• Impairment on financial assets

• Provisions and other contingent liabilities

• Provision for tax expenses

• Residual value and useful life ofproperty, plant and equipment

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Mar 31, 2024

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

2.1 Basis of preparation

The financial statements (Separate financial statements) have been prepared on accrual basis in
accordance with Indian Accounting Standards (Ind AS) notified under the Companies (Indian
Accounting Standards) Rules, 2015 and the provisions of the Companies Act, 2013.

The financial statements have been prepared on a historical cost basis, except for certain financial
assets and liabilities which have been measured at fair value (refer accounting policy regarding
financial instruments).

The financial statements are presented in Indian Rupees ("INR" or "''") and all amounts are rounded
to the nearest lacs, except as stated otherwise.

2.2 Estimates and Judgements

The preparation of the financial statements in conformity with Ind AS requires management to
make estimates, judgments and assumptions. These estimates, judgments and assumptions effect
the application of accounting policies and the reported amounts of assets and liabilities, the
disclosures of contingent assets and liabilities at the date of the financial statements and reported
amounts of revenues and expenses during the period. Application of accounting policies that
require critical accounting estimates involving complex and subjective judgments and the use of
assumptions in these financial statements have been disclosed in note 2.3(a). Accounting estimates
could change from period to period. Actual results may differ from those estimates. Appropriate
changes in estimates are made as management becomes aware of changes in circumstances
surrounding the estimates. Changes in estimates are reflected in the financial statements in the
period in which changes are made and, if material, their effects are disclosed in the notes to the
financial statements.

2.3 Presentation of financial statements

The Company presents its Balance Sheet in order of liquidity.

The Company generally reports financial assets and financial liabilities on a gross basis in the
Balance Sheet. They are offset and reported net only when Ind AS specifically permits the same
or it has an unconditional legally enforceable right to offset the recognised amounts without
being contingent on a future event. Similarly, the Company offsets incomes and expenses and
reports the same on a net basis when permitted by Ind AS specifically unless they are material in
nature.

This note provides a list of the significant accounting policies adopted in the preparation of these
financial statements.

These policies have been consistently applied to all the years presented, unless otherwise stated.

(A) Income

(i) Interest Income

The Company recognises interest income using Effective Interest Rate (EIR) on all financial
assets subsequently measured at amortised cost or fair value through other comprehensive
income (FVOCI). EIR is calculated by considering all costs and incomes attributable to
acquisition of a financial asset or assumption of a financial liability and it represents a rate that
exactly discounts estimated future cash payments/receipts through the expected life of the
financial asset/financial liability to the gross carrying amount of a financial asset or to the
amortised cost of a financial liability.

(ii) Dividend income

Dividend income on equity shares is recognised when the Company''s right to receive the
payment is established, which is generally when shareholders approve the dividend.

(iii) Leases Income
Company as a lessor:

Rental income from operating lease is recognised on a straight-line basis over the term of the
relevant lease, unless the receipts are structured to increase in line with expected general
inflation.

(iV) Other revenue from operations

Other revenue from operations is accounted for on accrual basis except, where the receipt of
income is uncertain. 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 received. Revenue is measured at the fair value of the consideration received or
receivable, taking into account contractually defined terms of payment and excluding taxes,
duties or other charges collected on behalf ofthe government/authorities.

(V) Other Income

Other Income is accounted for on accrual basis except, where the receipt of income is uncertain.

(B) Expenditures

(i) Finance costs

Borrowing costs on financial liabilities are recognised using the EIR.

(ii) Employee benefits

Short Term employee benefits

Liabilities for wages, salaries and other employee benefits that are expected to be settled within
twelve months of rendering the service by the employees are classified as short term employee
benefits. Such short term employee benefits are measured at the amounts expected to be paid
when the liabilities are settled

(iii) Taxes
Current Tax

The current tax expense for the period is determined as the amount of tax payable in respect of
taxable income for the period, based on the applicable income tax rates.

Current tax relating to items recognised in other comprehensive income or equity is recognised in
other comprehensive income or equity, respectively.

Deferred Tax

Deferred tax is provided using the liability method on temporary differences between the tax
bases of assets and liabilities and their carrying amounts for financial reporting purposes at the
reporting date.

Deferred tax liabilities are recognised for all taxable temporary differences. Deferred tax assets
are recognised for all deductible temporary differences and, the carry forward of unused tax
credits and any unused tax losses. Deferred tax assets are recognised to the extent that it is
probable that taxable profit will be available against which the deductible temporary differences,
the carry forward of unused tax credits and unused tax losses can be utilised.

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 at the reporting date.

Deferred tax relating to items recognised in other comprehensive income or equity is recognised
in other comprehensive income or equity, respectively.

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.

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Mar 31, 2014

Accounting Convention:

The financial statements are prepared under the historical cost convention in accordance with applicable Accounting Standards.

Fixed Assets:

Fixed Assets are stated at cost less Depreciation.

Method of Depreciation :

Depreciation has been provided on written down value method for the year at rates and the manner prescribed under Schedule XIV to the Companies Act, 1956.

Investments:

Long Term investments are valued at cost except that provision is made to recognize the permanent diminution in their value. Investments intended to be held for less than one year are classified as current investments and are valued at lower of cost and market value.

Revenue and Expenditure Recognition:

Revenue is recognised and expenditure is accounted for on accrual basis however the amounts which are not materially significant is accounted on cash basis.

Impairment of assets:

Impairment loss in the value of assets as specified in Accounting Standard 28 is recognized whenever carrying value of such assets exceeds the market value or value in use, whichever is higher.

Taxes on Income :

i) Current tax is determined as the amount of tax payable in respect of taxable income for the year.

ii) Deferred Tax is recognized, subject to consideration of prudence, in respect of deferred tax assets/liabilities arising on timing differences, being the difference between taxable income and accounting income that originate in one period and are capable of reversal in one or more subsequent periods.

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Mar 31, 2013

Accounting Convention:

The financial statements are prepared under the historical cost convention in accordance with applicable Accounting Standards.

Fixed Assets:

Fixed Assets are stated at cost less Depreciation.

Method of Depreciation :

Depreciation has been provided on written down value method for the year at rates and the manner prescribed under Schedule XIV to the Companies Act, 1956.

Investments:

Long Term investments are valued at cost except that provision is made to recognize the permanent diminution in their value. Investments intended to be held for less than one year are classified as current investments and are valued at lower of cost and market value.

Revenue and Expenditure Recognition:

Revenue is recognised and expenditure is accounted for on accrual basis however the amounts which are not materially significant is accounted on cash basis.

Impairment of assets:

Impairment loss in the value of assets as specified in Accounting Standard 28 is recognized whenever carrying value of such assets exceeds the market value or value in use, whichever is higher.

Taxes on Income :

i) Current tax is determined as the amount of tax payable in respect of taxable income for the year.

ii) Deferred Tax is recognized, subject to consideration of prudence, in respect of deferred tax assets/liabilities arising on timing differences, being the difference between taxable income and accounting income that originate in one period and are capable of reversal in one or more subsequent periods.

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Mar 31, 2012

Accounting Convention:

The financial statements arc prepared under the historical cost convention in accordance with applicable Accounting Standards.

Filed Assets:

Fixed Assets are stated at cost less Depreciation.

Method of Depreciation :

Depreciation has been provided on written down value method for the year at rates and the manner prescribed under Schedule XIV to the Companies Act. 1956.

Investments:

Long Term investments are valued at cost except that provision is made to recognize the permanent diminution in their value. Investments intended to be held for less than one year are classified as current investments and are valued at lower of cost and market value.

Revenue and Expenditure Recognition:

Revenue is recognised and expenditure is accounted for on accrual basis however the amounts which are not materially significant is accounted on cash basis.

impairment of assets:

Impairment loss in the value of assets as specified in Accounting Standard 28 is recognized whenever carrying value of such assets exceeds the market value or value in use. whichever is higher.

Taxes on Income :

i) Current tax is determined as the amount of tax payable in respect of taxable income fa the year.

ii) Deferred Tax is recognized, subject to consideration of prudence, in respect of deferred tax assets/liabilities arising on timing differences, being the difference between taxable income and accounting income that originate in one period and are capable of reversal in one or more subsequent periods.

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Mar 31, 2011

Accounting Convention:

The financial statements are prepared under the historical cost convention in accordance with applicable Accounting Standards.

Fixed Assets:

Fixed Assets are stated at cost less Depreciation.

Method of Depreciation:

Depreciation has been provided on written down value method for the year at rates and the manner prescribed under Schedule XIV to the Companies Act, 1956.

Investments:

Long Term investments are valued at cost except that provision is made to recognize the permanent diminution in their value, Investments intended to be held for less then one year are classified as current investments and are valued at lower of cost and market value.

Revenue and Expenditure Recognition:

Revenue is recognised and expenditure is accounted for on accrual basis however the amounts which are not materially significant is accounted on cash basis.

Impairment of assets:

Impairment loss in the value of assets as specified in Accounting Standard 28 is recognized whenever carrying value of such assets exceeds the market value or value in use, whichever is higher.

Taxes on Income :

i) Current tax is determined as the amount of tax payable in respect of taxable income for the year. ii) Deferred Tax os recognized, subject to consideration of prudence, in respect of deferred tax assets/ liabilities arising on timing differences, being the difference between taxable income and accounting income that originate in one period and are capable of reversal in one or more subsequent periods.

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Mar 31, 2010

Fixed Assets:

Fixed Assets are stated at cost less Depreciation.

Method of Depreciation and Amortisation:

Depreciation has been provided on written down value method for the year at rates and the manner prescribed in schedule XIV to the Companies Act, 1956.

Investments:

Divestments are stated at cost. Provision for diminution is made to recognise a decline, other than temporary in the value of such investments.

Revenue and Expenditure Recognition:

Revenue is recognised and expenditure is accounted for on accrual basis however the amounts that are not materially significant is accounted on cash basis.

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Mar 31, 2009

Fixed Assets:

Fixed Assets are stated at cost less Depreciation.

Method of Depreciation and Amortisation:

Depreciation has been provided on written down value method for the year at rates and the manner prescribed in schedule XIV to the Companies Act, 1956.

Investments:

Investments are stated at cost. Provision for diminution is made to recognise a decline, other than temporary, in the value of such investments.

Revenue and Expenditure Recognition:

Revenue is recognised and expenditure is accounted for on accrual basis however the amounts that are not materially significant is accounted on cash basis.