DSJ Keep Learning Ltd. कंपली की लेखा नीति

Mar 31, 2025

a) Statement of Compliance:

The standalone financial statements have been prepared in
accordance with Indian Accounting Standards (Ind AS) as
per the Companies (Indian Accounting Standards) Rules,
2015 notifies under Section 133 of Companies Act,2013
(the “Act”) and other relevant provisions of the Act.

These standalone financial statements have been prepared
for the Company as a going concern on the basis of
relevant Ind AS that are effective at the Company''s annual
report date, March 31, 2025. These standalone financial
statements were authorized for issuance by the Company''s
Board of Directors on May 30, 2025.

b) Basis of preparation and presentation:

These financial statements have been prepared on the
historical cost basis, except for certain financial instruments
which are measured at fair values at the end of each
reporting period, as explained in the accounting policies
below. Historical cost is generally based on the fair value of
the consideration given in exchange for goods and services.
Fair value is the price which that would be received or paid
to transfer a liability in an orderly transaction between
market participants at the measurement date.

Accounting policies have been consistently applied except
where a newly issued accounting standard is initially
adopted or a revision to an existing accounting standard
requires a change in the accounting policy hitherto in use.

c) Use of Estimate:

The preparation of financial statements, in conformity
with generally accepted accounting principles requires
management to make estimates and assumptions 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 end. Although these estimates are
based upon management''s best knowledge of current
events and actions, actual results could differ from these
estimates.

Estimates and underlying assumptions are reviewed
on an ongoing basis. Revisions to accounting estimates
are recognized in the period in which the estimates are
revised and future periods are affected. The management
believes that the estimates used in preparation of the
financial statements are prudent and reasonable. Future
results could differ due to these estimates and differences
between actual results and estimates are recognized in the
periods in which the results are known/materialize.

Key source of estimation of uncertainty at the date of
the financial statements, which may cause a material
adjustment to the carrying amounts of assets and liabilities
within the next financial year, is in respect of Fair valuation
of financial instruments, useful lives of property, plant and
equipment, valuation of deferred tax Assets & liabilities
and provisions and contingent liabilities.

Useful lives of property, plant and equipment

The Company reviews the useful life of property, plant
and equipment at the end of each reporting period. This
reassessment may result in change in depreciation expense
in future periods.

Valuation of deferred tax assets & Liabilities:

The Company reviews the carrying amount of deferred tax
assets & Liabilities at the end of each reporting period.

Provisions and contingent liabilities:

Provisions are recognized when the Company has a present
legal or constructive obligation as a result of past events; it
is probable that an outflow of resources will be required
to settle the obligation; and the amount can be reliably
estimated.

Provisions are measured at the present value of the
expenditures expected to be required to settle the
obligation using a pre-tax rate that reflects current market
assessments of the time value of money (if the impact
of discounting is significant) and the risks specific to the
obligation. The increase in the provision due to unwinding
of discount over passage of time is recognized as finance
cost. Provisions are reviewed at each reporting date and
adjusted to reflect the current best estimate. If it is no longer
probable that an outflow of economic resources will be
required to settle the obligation, the provision is reversed.
A provision for onerous contracts is recognized when the
expected benefits to be derived by the company from a
contract are lower than the unavoidable cost of meeting its
obligations under the contract. The provision is measured
at the present value of the expected net cost of continuing
with the contract. Before a provision is established, the
company recognizes any impairment loss on the assets
associated with that contract.

A disclosure for a contingent liability is made where there
is a possible obligation that arises from past events and the
existence of which will be confirmed only by the occurrence
or nonoccurrence of one or more uncertain future events
not wholly within the control of the company or a present

obligation that arises from the past events where it is
either not probable that an outflow of resources will be
required to settle the obligation or a reliable estimate of
the amount cannot be made. Contingent liabilities are
not recognized in the financial statements. A contingent
asset is neither recognized nor disclosed in the financial
statements. Fair value measurements and valuation
processes Some of the company''s assets and liabilities are
measured at fair value for financial reporting purposes.
The company has obtained independent fair valuation for
financial instruments wherever necessary to determine the
appropriate valuation techniques and inputs for fair value
measurements. In some cases the fair value of financial
instruments is done internally by the management of the
Company using market-observable inputs. In estimating
the fair value of an asset or a liability, the company uses
market-observable data to the extent it is available. Where
Level 1 inputs are not available, the company engages
third party qualified valuers to perform the valuation.
The qualified external valuers establish the appropriate
valuation techniques and inputs to the model. The external
valuers report to the management of the Company their
findings for every reporting period to explain the cause of
fluctuations in the fair value of the assets and liabilities.

Fair value measurements and valuation processes:

Some of the company''s assets and liabilities are measured
at fair value for financial reporting purposes. The company
has obtained independent fair valuation for financial
instruments wherever necessary to determine the
appropriate valuation techniques and inputs for fair value
measurements. In some cases the fair value of financial
instruments is done internally by the management of the
Company using market-observable inputs. In estimating
the fair value of an asset or a liability, the company uses
market-observable data to the extent it is available. Where
Level 1 inputs are not available, the company engages
third party qualified valuers to perform the valuation.
The qualified external valuers establish the appropriate
valuation techniques and inputs to the model. The external
valuers report to the management of the Company their
findings for every reporting period to explain the cause of
fluctuations in the fair value of the assets and liabilities.

d) Property Plant & Equipment and Intangible Assets.

Property, plant and equipment held for use in provision
of services or for administrative purposes are stated at
cost less accumulated depreciation/amortization less
accumulated impairment, if any. The cost of Property,
Plant & Equipment comprises its purchase price net of any
trade discounts and rebates, any import duties and other
taxes (other than those subsequently recoverable from the
tax authorities), any directly attributable expenditure on
making the asset ready for its intended use, and interest
on borrowings attributable to acquisition of qualifying
Property, Plant & Equipment up to the date the asset is
ready for its intended use.

Depreciation is recognized (other than on capital work-
in-progress) on a Written down value over the estimated
useful lives of assets in respect of property plant &
equipment at the rates prescribed under Schedule II of
Companies Act, 2013. Depreciation on assets acquired/
purchased, sold/discarded during the year is provided on a
pro-rata basis from the date of each addition till the date of
sale/retirement.

An item of property, plant and equipment is derecognized
upon disposal or when no future economic benefits are
expected to arise from the continued use of the asset.
Any gain or loss arising on the disposal or retirement of an
item of property, plant and equipment, determined as the
difference between the sales proceeds and the carrying
amount of the asset, is recognized in the Statement of
Profit or Loss.

Intangible assets with finite useful lives that are
acquired separately are carried at cost less accumulated
amortization. Amortization is recognized on a straight-line
basis over their estimated useful lives or 10 years, which
reflects the pattern in which the asset''s economic benefits
are consumed. The estimated useful life, the amortization
method and the amortization period are reviewed at the
end of each reporting period, with effect of any change in
estimate being accounted for on a prospective basis.

An intangible asset is derecognized on disposal or when
no future economic benefits are expected from use or
disposal. Gains or losses arising from de-recognition of an
intangible asset, measured as the difference between the
net disposal proceeds and the carrying amount of the asset,
and are recognized in the profit or loss when the asset is
derecognized.

e) Impairment of tangible and intangible assets other than
goodwill:

At the end of each reporting period, the Company reviews
the carrying amounts of its tangible and intangible assets to
determine whether there is any indication that those assets
have suffered an impairment loss. If any such indication
exists, the recoverable amount of the asset is estimated
in order to determine the extent of the impairment loss (if
any). When it is not possible to estimate the recoverable
amount of an individual asset, the Company estimates the
recoverable amount of the cash generating unit to which
the asset belongs.

Recoverable amount is the higher of fair value less costs
of disposal and value in use. 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 for which the estimates of future
cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating
unit) is estimated to be less than its carrying amount, the
carrying amount of the asset (or cash-generating unit) is
reduced to its recoverable amount. An impairment loss is
recognized immediately in profit and loss.

When an impairment loss subsequently reverses, the
carrying amount of the asset (or a cash-generating unit) is
increased to the revised estimate of its recoverable amount,
but so that the increased carrying amount does not exceed
the carrying amount that would have been determined had
no impairment loss been recognized for the asset (or cash¬
generating unit) in prior years. A reversal of an impairment
loss is recognized immediately in profit and loss.

f) Revenue Recognition

Revenue under a contract with the customer is recognized
only when all of the following criteria are met:

(i) The parties to the contract have approved the
contract (in writing, orally or in accordance with other
customary business practices) and are committed to
perform their respective obligation;

(ii) The Company can identify each party''s rights
regarding the goods or services to be transferred;

(iii) The Company can identify the payment terms for the
goods or services to be transferred

(iv) The contract has commercial substance (i.e. the risk,
timing or amount of the entity''s future cash flows is
expected to change as a result of the contract); and

(v) It is probable that the Company will collect the
consideration to which it will be entitled in exchange
for the goods or services that will be transferred to the
customer. In evaluating whether the collectability of
an amount of consideration is probable, the Company
considers only the customers ability and intention to
pay that amount of consideration when it is due.

Revenue is measured on accrual basis in accordance with
substance of the agreement, which is the consideration,
adjusted for volume discounts, drop out of students,
price concessions, if any, as specified in the contracts
with customers. Revenue excludes taxes collected from
customers on behalf of the government. Due to the short
nature of credit period given to customers, there is no
financing component in the contract.

Use of significant judgments in revenue recognition:

The Company''s contract with customers could include
promises to transfer products, deliverables and services
to a customer. The Company assesses the products/
deliverables/services promised under a contract and
identifies distinct performance obligations in the contract.
Identification of distinct performance obligation involves
judgment to determine the deliverables and the ability
of the customer to benefit independently from such
deliverables.

Dividend and interest income:

Dividend income from investment is recognized when the
company''s right to receive payment has been established.

Interest income from a financial asset is recognized when
it is probable that the economic benefit will flow to the

Company and the amount of income can be measured
reliably. Interest income is accrued on time basis, by
reference to the principal outstanding and at the effective
interest rate applicable.

g) Classification of Assets and Liabilities into Current / Non
- Current

For the Purpose of Balance Sheet, an asset is classified as
current if:

• It is expected to be realized, or is intended to be sold or
consumed, in the normal operating cycle; or

• It is held primarily for the purpose of trading; or

• It is expected to realize the asset within twelve months
after the reporting period; or

• The asset is a cash or cash equivalent unless it is
restricted from being exchanged or used to settle a
liability for at least twelve months after the reporting
period.

All other assets are classified as non-current.

Similarly, a liability is classified as current if:

• It is expected to be settled in the normal operating
cycle; or

• It is held primarily for the purpose of trading; or

• It is due to be settled within twelve months after the
reporting period; or

• The Company does not have an unconditional right to
defer the settlement of the liability for at least twelve
months after the reporting period. Terms of a liability
that could result in its settlement by the issue of equity
instruments at the option of the counterparty does
not affect this classification.

All other liabilities are classified as non-current.

h) Leases

A contract is, or contains, a lease if the contract conveys the
right to control the use of an identified asset for a period of
time in exchange for consideration.

Company as a Lessee

The Company recognizes right-of-use asset representing
its right to use the underlying asset for the lease term at
the lease commencement date. The cost of the right of-use
asset measured at inception shall comprise of the amount
of the initial measurement of the lease liability adjusted for
any lease payments made at or before the commencement
date less any lease incentives received, plus any initial
direct costs incurred and an estimate of costs to be
incurred by the lessee in dismantling and removing the
underlying asset or restoring the underlying asset or site on
which it is located. The right-of-use assets is subsequently
measured at cost less any accumulated depreciation,
accumulated impairment losses, if any and adjusted for
any re-measurement of the lease liability. The right-of-use

assets are depreciated using the straight-line method from
the commencement date over the shorter of lease term or
useful life of right-of-use asset. The estimated useful lives
of right-of-use assets are determined on the same basis as
those of property, plant and equipment. Right of-use assets
are tested for impairment whenever there is any indication
that their carrying amounts may not be recoverable.
Impairment loss, if any, is recognized in the statement of
profit and loss.

The Company measures the lease liability at the present
value of the lease payments that are not paid at the
commencement date of the lease. The lease payments
are discounted using the interest rate implicit in the lease,
if that rate can be readily determined. If that rate cannot
be readily determined, the company uses incremental
borrowing rate. The lease payments shall include fixed
payments, variable lease payments, residual value
guarantees, exercise price of a purchase option where the
company is reasonably certain to exercise that option and
payments of penalties for terminating the lease, if the lease
term reflects the lessee exercising an option to terminate
the lease. The lease liability is subsequently re-measured
by increasing the carrying amount to reflect interest on
the lease liability, reducing the carrying amount to reflect
the lease payments made and re-measuring the carrying
amount to reflect any reassessment or lease modifications
or to reflect revised in-substance fixed lease payments.

The Company recognizes the amount of the re¬
measurement of lease liability due to modification as an
adjustment to the right-of-use asset and statement of profit
and loss depending upon the nature of modification. Where
the carrying amount of the right-of-use asset is reduced to
zero and there is a further reduction in the measurement of
the lease liability, the Company recognizes any remaining
amount of the re-measurement in statement of profit and
loss.

The Company has elected not to apply the requirements
of Ind AS 116 Leases to short term leases of all assets that
have a lease term of 12 months or less and leases for which
the underlying asset is of low value. The lease payments
associated with these leases are recognized as an expense
on a straight-line basis over the lease term.

i) Employee Benefits

(i) Defined Contribution Plan:

Payments to defined contribution retirement benefit
schemes viz. Company''s Provident Fund Scheme and
Superannuation Fund are recognised as an expense
when the employees have rendered the service
entitling them to the contribution.

(ii) Defined Benefit Plan:

For defined benefit retirement benefit plans, the cost
of providing benefits is determined using the projected
unit credit method, with actuarial valuations being
carried out at the end of each annual reporting period.

Remeasurement, comprising actuarial gains and
losses, the effect of the changes to the asset ceiling
(if applicable) and the return on plan assets (excluding
interest), is reflected immediately in the statement of
financial position with a charge or credit recognised
in other comprehensive income in the period in which
they occur.

Remeasurement recognised in other comprehensive
income is reflected immediately in retained earnings
and will not be reclassified to profit or loss. Past service
cost is recognised in profit or loss in the period of a plan
amendment. Net interest is calculated by applying the
discount rate at the beginning of the period to the net
defined benefit liability or asset. Defined benefit costs
are categorised as follows:

• service cost (including current service cost, past
service cost, as well as gains and losses on curtailments
and settlements);

• net interest expense or income; and

• remeasurement.

(1) Gratuity:

The Company has an obligation towards gratuity, a defined
benefit retirement plan covering eligible employees. The
plan provides for a lump sum payment to vested employees
at retirement, death while in employment or on termination
of employment of an amount equivalent to 15/26 days
salary payable for each completed year of service. Vesting
occurs upon completion of five years of service. The
Company accounts for the liability for gratuity benefits
payable in future based on an independent actuarial
valuation. The Company has taken a Group Gratuity cum
Life Assurance Scheme with Life Insurance Corporation for
future payment of gratuity to the eligible employees.

(2) Compensated Absences:

The Employees of the company are required to utilize
their compensated absences during the financial year
itself. The company neither provides for encashment nor
accumulation of unutilized compensated expenses.

j) Taxation

Income tax expense comprises current tax expense and
the net change in the deferred tax asset or liability during
the year. Current and deferred tax are recognised in
profit or loss, except when they relate to items that are
recognised in other comprehensive income or directly in
equity, in which case, the current and deferred tax are also
recognised in other comprehensive income or directly in
equity, respectively. Income tax expense represents the
sum of the tax currently payable and deferred tax.

Current income tax

The tax currently payable is based on taxable profit
for the year. Taxable profit differs from ‘profit before
tax'' as reported in the statement of profit or loss and

other comprehensive income/statement of profit or loss
because of items of income or expense that are taxable or
deductible in other years and items that are never taxable
or deductible.

The Company''s current tax is calculated using tax rates
that have been enacted or substantively enacted by the
end of the reporting period.

Deferred income taxes

Deferred income tax is recognized using the balance
sheet approach. Deferred income tax assets and liabilities
are recognized for deductible and taxable temporary
differences arising between the tax base of assets and
liabilities and their carrying amount, except when the
deferred income tax arises from the initial recognition of
goodwill or an asset or liability in a transaction that is not
a business combination and affects neither accounting nor
taxable profit or loss at the time of the transaction.

Deferred income tax asset are recognized to the extent that
it is probable that taxable profit will be available against
which the deductible temporary differences and the carry
forward of unused tax credits and unused tax losses can be
utilised. The carrying amount of deferred income tax assets
is reviewed at each reporting date and reduced to the
extent that it is no longer probable that sufficient taxable
profit will be available to allow all or part of the deferred
income tax asset to be utilised.

Deferred tax assets and liabilities are measured using
substantively enacted tax rates expected to apply to taxable
income in the years in which the temporary differences are
expected to be received or settled.

Deferred tax assets and liabilities are offset when they
relate to income taxes levied by the same taxation authority
and the relevant entity intends to settle its current tax
assets and liabilities on a net basis.

k) Financial Instruments

Financial assets and liabilities are recognized when the
Company becomes a party to the contractual provisions of
the instrument. Financial assets and liabilities are initially
measured at fair value. Transaction costs that are directly
attributable to the acquisition or issue of financial assets
and financial liabilities (other than financial assets and
financial liabilities at fair value through profit or loss) are
added to or deducted from the fair value measured on
initial recognition of financial asset or financial liability.

Cash and cash equivalents

The Company considers all highly liquid financial
instruments, which are readily convertible into known
amounts of cash that are subject to an insignificant risk
of change in value and having original maturities of three
months or less from the date of purchase, to be cash
equivalents. Cash and cash equivalents consist of balances
with banks which are unrestricted for withdrawal and
usage.

Financial assets are subsequently measured at amortized
cost if these financial assets are held within a business
whose objective is to hold these assets 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 profit and Loss (
FVTPL)

Financial assets at FVTPL are measured at fair value at the
end of each reporting period, with any gains or losses arising
on re-measurement recognized in profit and loss. The net
gain or loss recognized in profit and loss incorporates any
dividend or interest earned on the financial asset and is
included in the ''Other Income / Other expenses'' line item.
Dividend on financial assets at FVTPL is recognized when
the Company''s right to receive the dividends is established,
it is probable that the economic benefits associated with
the dividend will flow to the entity and the amount of
dividend can be measured reliably.

Financial assets at Fair Value Through other
comprehensive income ( FVTOCI)

Financial assets at FVTOCI are measured at fair value
through other comprehensive income if these financial
assets are held within a business whose objective is to hold
these assets 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
and selling financial assets.

The company has made an irrevocable election to present
subsequent change in the fair value of Debt instruments
not held for trading in other comprehensive income.

Reclassification of Financial Assets

The Company determines classification of financial assets
and liabilities on initial recognition. After initial recognition,
no reclassification is made for financial assets which are
equity instruments and financial liabilities. For financial
assets which are debt instruments, a reclassification is
made only if there is a change in the business model for
managing those assets. Changes to the business model
are expected to be infrequent. The Company''s senior
management determines change in the business model as a
result of external or internal changes which are significant
to the company''s operations. Such changes are evident to
external parties. A change in the business model occurs
when a company either begins or ceases to perform an
activity that is significant to its operations. If the Company
reclassifies financial assets, it applies the reclassification
prospectively from the reclassification date which is the
first day of the immediately next reporting period following
the change in business model. The Company does not
restate any previously recognized gains, losses (including
impairment gains and losses) or interest.

The Company applies the expected credit loss model for
recognizing impairment loss on financial assets measured
at amortized cost, lease receivables, trade receivables,
other contractual rights to receive cash or other financial
asset, and financial guarantees not designated as at FVTPL

For trade receivables or any contractual rights to
receive cash or another financial assets that results from
transactions that are within the scope of Ind AS 18, the
Company always measures their allowances at an amount
equal to lifetime expected credit losses.

Further, for the purpose of measuring lifetime expected
credit loss allowance for trade receivable, the Company
has used a practical expedient as permitted under Ind AS
109. This expected credit loss allowance is computed based
on a provision matrix which takes into account historical
credit loss experience and adjusted for forward-looking
information.

Derecognition of financial assets

The Company de-recognizes a financial asset when
contractual rights to the cash flows from the asset expire,
or when it transfers the financial asset and substantially
all the risks and rewards of ownership of the asset to
another party. If the Company neither transfers nor retains
substantially all the risks and rewards of ownership and
continues to control the transferred asset, the Company
recognizes its retained interest in the asset and an
associated liability for amounts it may have to pay. If the
Company retains substantially all the risks and rewards of
ownership of a transferred financial asset, the Company
continues to recognize the financial asset and also
recognizes a collateralized borrowing for the proceeds
received.

Foreign exchange gains and losses

The fair value of financial assets denominated in a foreign
currency is determined in that foreign currency and
translated at the spot rate at the end of each reporting
period.

For foreign currency denominated financial assets
measured at amortized cost and FVTPL, exchange
differences are recognized in profit and loss, except for
those which are designated as hedging instruments in a
hedging relationship.

Financial Liabilities

Financial liabilities are subsequently measured at
amortized cost or at FVTPL

Financial liabilities at FVTPL

Financial liabilities such as derivative that is not designated
and effective as a hedging instrument are classified as at
FVTPL.

Financial liabilities at FVTPL are stated at fair value, with
any gains or losses arising on re-measurement recognized
in profit and loss. The net gain or loss recognized in profit
and loss is included in the ‘Other Income/ Other expenses''
line item.

Financial liabilities subsequently measured at amortized
cost

Financial liabilities that are not held for trading and are not
designated as at FVTPL are measured at cost.

Foreign exchange gains and losses

For financial liabilities that are denominated in a foreign
currency and are measured at amortized cost at the end
of each reporting period, the foreign exchange gains or
losses are determined based on the amortized cost of the
instruments and are recognized in ‘Other Income / Other
Expenses''.

The fair value of financial liabilities denominated in
foreign currency is determined in that foreign currency
and translated at the spot rate at the end of the reporting
period. For financial liabilities that are measured at FVTPL,
the foreign exchange component forms part of the fair
value gains or losses and is recognized in profit and loss.

Derecognition of financial liabilities

The Company de-recognizes financial liabilities when, and
only when, the Company''s obligations are discharged,
cancelled or have expired.

Equity instruments

An equity instrument is a contract that evidences residual
interest in the assets of the company after deducting all
of its liabilities. Equity instruments recognized by the
Company are recognized at the proceeds received net off
direct issue cost.

(l) Earnings Per Share (EPS)

The Company reports basic and diluted earnings per share
in accordance with Ind AS 33 on Earnings per share. Basic
earnings per share is computed by dividing the net profit
or loss for the period by the weighted average number
of equity shares outstanding during the period. Diluted
earnings per share is computed by dividing the net profit
or loss for the period by the weighted average number of
equity shares outstanding during the period as adjusted
for the effects of all diluted potential equity shares except
where the results are anti-dilutive.

(m) Share Capital
Ordinary Shares

Ordinary shares are classified as equity. Incremental costs,
if any, directly attributable to the issue of ordinary shares
are recognized as a deduction from other equity, net of any
tax effects.

---

Mar 31, 2024

B) Significant Accounting Policies and notes on Accounts forming an Integral Part of Accounts for the year ended 31^st March 2024.

a) Statement of Compliance:

The standalone financial statements have been prepared in accordance with Indian Accounting Standards (Ind AS) as per the Companies (Indian Accounting Standards) Rules, 2015 notifies under Section 133 of Companies Act,2013 (the “Act”) and other relevant provisions of the Act.

These standalone financial statements have been prepared for the Company as a going concern on the basis of relevant Ind AS that are effective at the Company''s annual report date, March 31, 2024. These standalone financial statements were authorized for issuance by the Company''s Board of Directors on May 30, 2024.

b) Basis of preparation and presentation:

These financial statements have been prepared on the historical cost basis, except for certain financial instruments which are measured at fair values at the end of each reporting period, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for goods and services. Fair value is the price which that would be received or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

Accounting policies have been consistently applied except where a newly issued accounting standard is initially adopted or a revision to an existing accounting standard requires a change in the accounting policy hitherto in use.

c) Use of Estimate:

The preparation of financial statements, in conformity with generally accepted accounting principles requires management to make estimates and assumptions 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 end. Although these estimates are based upon management''s best knowledge of current events and actions, actual results could differ from these estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised and future periods are affected. The management believes that the estimates used in preparation of the financial statements are prudent and reasonable. Future results could differ due to these estimates and differences between actual results and estimates are recognized in the periods in which the results are known/materialize.

Key source of estimation of uncertainty at the date of the financial statements, which may cause a material adjustment to the carrying amounts of assets and liabilities within the next financial year, is in respect of Fair valuation of financial instruments, useful lives of property, plant and equipment, valuation of deferred tax Assets & liabilities and provisions and contingent liabilities.

Useful lives of property, plant and equipment

The Company reviews the useful life of property, plant and equipment at the end of each reporting period. This reassessment may result in change in depreciation expense in future periods.

Valuation of deferred tax assets & Liabilities:

The Company reviews the carrying amount of deferred tax assets & Liabilities at the end of each reporting period.

Provisions and contingent liabilities:

Provisions are recognized when the Company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount can be reliably estimated.

Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money (if the impact of discounting is significant) and the risks specific to the obligation. The increase in the provision due to unwinding of discount over passage of time is recognized as finance cost. Provisions are reviewed at each reporting date and adjusted to reflect the current best estimate. If it is no longer probable that an outflow of economic resources will be required to settle the obligation, the provision is reversed.

A provision for onerous contracts is recognized when the expected benefits to be derived by the company from a contract are lower than the unavoidable cost of meeting its obligations under the contract. The provision is measured at the present value of the expected net cost of continuing with the contract. Before a provision is established, the company recognizes any impairment loss on the assets associated with that contract.

A disclosure for a contingent liability is made where there is a possible obligation that arises from past events and the existence of which will be confirmed only by the occurrence or nonoccurrence of one or more uncertain future events not wholly within the control of the company or a present

obligation that arises from the past events where it is either not probable that an outflow of resources will be required to settle the obligation or a reliable estimate of the amount cannot be made. Contingent liabilities are not recognized in the financial statements. A contingent asset is neither recognized nor disclosed in the financial statements. Fair value measurements and valuation processes Some of the company''s assets and liabilities are measured at fair value for financial reporting purposes. The company has obtained independent fair valuation for financial instruments wherever necessary to determine the appropriate valuation techniques and inputs for fair value measurements. In some cases the fair value of financial instruments is done internally by the management of the Company using market-observable inputs. In estimating the fair value of an asset or a liability, the company uses market-observable data to the extent it is available. Where Level 1 inputs are not available, the company engages third party qualified valuers to perform the valuation. The qualified external valuers establish the appropriate valuation techniques and inputs to the model. The external valuers report to the management of the Company their findings for every reporting period to explain the cause of fluctuations in the fair value of the assets and liabilities.

Fair value measurements and valuation processes:

Some of the company''s assets and liabilities are measured at fair value for financial reporting purposes. The company has obtained independent fair valuation for financial instruments wherever necessary to determine the appropriate valuation techniques and inputs for fair value measurements. In some cases the fair value of financial instruments is done internally by the management of the Company using market-observable inputs. In estimating the fair value of an asset or a liability, the company uses market-observable data to the extent it is available. Where Level 1 inputs are not available, the company engages third party qualified valuers to perform the valuation. The qualified external valuers establish the appropriate valuation techniques and inputs to the model. The external valuers report to the management of the Company their findings for every reporting period to explain the cause of fluctuations in the fair value of the assets and liabilities.

d) Property Plant & Equipment and Intangible Assets.

Property, plant and equipment held for use in provision of services or for administrative purposes are stated at cost less accumulated depreciation/amortization less accumulated impairment, if any. The cost of Property, Plant & Equipment comprises its purchase price net of any trade discounts and rebates, any import duties and other taxes (other than those subsequently recoverable from the tax authorities), any directly attributable expenditure on making the asset ready for its intended use, and interest on borrowings attributable to acquisition of qualifying Property, Plant & Equipment up to the date the asset is ready for its intended use.

Depreciation is recognized (other than on capital work-in-progress) on a Written down value over the estimated useful lives of assets in respect of property plant & equipment at the rates prescribed under Schedule II of Companies Act, 2013. Depreciation on assets acquired/ purchased, sold/discarded during the year is provided on a pro-rata basis from the date of each addition till the date of sale/retirement.

An item of property, plant and equipment is derecognized upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. Any gain or loss arising on the disposal or retirement of an item of property, plant and equipment, determined as the difference between the sales proceeds and the carrying amount of the asset, is recognized in the Statement of Profit or Loss.

Intangible assets with finite useful lives that are acquired separately are carried at cost less accumulated amortization. Amortization is recognized on a straight-line basis over their estimated useful lives or 10 years, which reflects the pattern in which the asset''s economic benefits are consumed. The estimated useful life, the amortization method and the amortization period are reviewed at the end of each reporting period, with effect of any change in estimate being accounted for on a prospective basis.

An intangible asset is derecognized on disposal or when no future economic benefits are expected from use or disposal. Gains or losses arising from de-recognition of an intangible asset, measured as the difference between the net disposal proceeds and the carrying amount of the asset, and are recognised in the profit or loss when the asset is derecognised.

e) Impairment of tangible and intangible assets other than goodwill:

At the end of each reporting period, the Company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). When it is not possible to estimate the recoverable amount of an individual asset, the Company estimates the recoverable amount of the cash generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs of disposal and value in use. 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 for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognized immediately in profit and loss.

When an impairment loss subsequently reverses, the carrying amount of the asset (or a cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognized for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognized immediately in profit and loss.

f) Revenue Recognition

Revenue under a contract with the customer is recognized only when all of the following criteria are met:

(i) The parties to the contract have approved the contract (in writing, orally or in accordance with other customary business practices) and are committed to perform their respective obligation;

(ii) The Company can identify each party''s rights regarding the goods or services to be transferred;

(iii) The Company can identify the payment terms for the goods or services to be transferred

(iv) The contract has commercial substance (i.e. the risk, timing or amount of the entity''s future cash flows is expected to change as a result of the contract); and

(v) It is probable that the Company will collect the consideration to which it will be entitled in exchange for the goods or services that will be transferred to the customer. In evaluating whether the collectability of an amount of consideration is probable, the Company considers only the customers ability and intention to pay that amount of consideration when it is due.

Revenue from finder fees is recognized based on achieving certain milestones as may be specifically agreed in the contracts with the customers or in generally in the following manner:

1. 15% based on Application fees Received from the students by the customer

2. 18% based on Registration Fees Paid from the students by the customer

3. 30% based on payment of 1^st fees installment from the students by the customer

4. 37% based on the payment of final fees installment from the students by the customer

Revenue is measured on accrual basis in accordance with substance of the agreement, which is the consideration, adjusted for volume discounts, drop out of students, price concessions, if any, as specified in the contracts with customers. Revenue excludes taxes collected from customers on behalf of the government. Due to the short nature of credit period given to customers, there is no financing component in the contract.

Use of significant judgments in revenue recognition:

The Company''s contract with customers could include promises to transfer products, deliverables and services to a customer. The Company assesses the products/ deliverables/services promised under a contract and identifies distinct performance obligations in the contract. Identification of distinct performance obligation involves judgment to determine the deliverables and the ability of the customer to benefit independently from such deliverables.

Dividend and interest income:

Dividend income from investment is recognized when the company''s right to receive payment has been established.

Interest income from a financial asset is recognized when it is probable that the economic benefit will flow to the Company and the amount of income can be measured reliably. Interest income is accrued on time basis, by reference to the principal outstanding and at the effective interest rate applicable.

g) Classification of Assets and Liabilities into Current / Non - Current

For the Purpose of Balance Sheet, an asset is classified as current if:

• It is expected to be realized, or is intended to be sold or consumed, in the normal operating cycle; or

• It is held primarily for the purpose of trading; or

• It is expected to realize the asset within twelve months after the reporting period; or

• The asset is a cash or cash equivalent unless it is restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period.

All other assets are classified as non-current.

Similarly, a liability is classified as current if:

• It is expected to be settled in the normal operating cycle; or

• It is held primarily for the purpose of trading; or

• It is due to be settled within twelve months after the reporting period; or

• The Company does not have an unconditional right to defer the settlement of the liability for at least twelve months after the reporting period. Terms of a liability that could result in its settlement by the issue of equity instruments at the option of the counterparty does not affect this classification.

All other liabilities are classified as non-current.

h) Leases

A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.

Company as a Lessee

The Company recognizes right-of-use asset representing its right to use the underlying asset for the lease term at the lease commencement date. The cost of the right of-use asset measured at inception shall comprise of the amount of the initial measurement of the lease liability adjusted for any lease payments made at or before the commencement date less any lease incentives received, plus any initial direct costs incurred and an estimate of costs to be incurred by the lessee in dismantling and removing the underlying asset or restoring the underlying asset or site on which it is located. The right-of-use assets is subsequently measured at cost less any accumulated depreciation, accumulated impairment losses, if any and adjusted for any re-measurement of the lease liability. The right-of-use assets are depreciated using the straight-line method from the commencement date over the shorter of lease term or useful life of right-of-use asset. The estimated useful lives of right-of-use assets are determined on the same basis as those of property, plant and equipment. Right of-use assets are tested for impairment whenever there is any indication that their carrying amounts may not be recoverable. Impairment loss, if any, is recognized in the statement of profit and loss.

The Company measures the lease liability at the present value of the lease payments that are not paid at the commencement date of the lease. The lease payments are discounted using the interest rate implicit in the lease, if that rate can be readily determined. If that rate cannot be readily determined, the company uses incremental borrowing rate. The lease payments shall include fixed payments, variable lease payments, residual value guarantees, exercise price of a purchase option where the company is reasonably certain to exercise that option and payments of penalties for terminating the lease, if the lease term reflects the lessee exercising an option to terminate the lease. The lease liability is subsequently re-measured by increasing the carrying amount to reflect interest on the lease liability, reducing the carrying amount to reflect the lease payments made and re-measuring the carrying amount to reflect any reassessment or lease modifications or to reflect revised in-substance fixed lease payments.

The Company recognizes the amount of the remeasurement of lease liability due to modification as an adjustment to the right-of-use asset and statement of profit and loss depending upon the nature of modification. Where the carrying amount of the right-of-use asset is reduced to zero and there is a further reduction in the measurement of the lease liability, the Company recognizes any remaining amount of the re-measurement in statement of profit and loss.

The Company has elected not to apply the requirements of Ind AS 116 Leases to short term leases of all assets that have a lease term of 12 months or less and leases for which the underlying asset is of low value. The lease payments associated with these leases are recognized as an expense on a straight-line basis over the lease term.

i) Employee Benefits

(i) Defined Contribution Plan:

Payments to defined contribution retirement benefit schemes viz. Company''s Provident Fund Scheme and Superannuation Fund are recognised as an expense when the employees have rendered the service entitling them to the contribution.

(ii) Defined Benefit Plan:

For defined benefit retirement benefit plans, the cost of providing benefits is determined using the projected unit credit method, with actuarial valuations being carried out at the end of each annual reporting period. Remeasurement, comprising actuarial gains and losses, the effect of the changes to the asset ceiling (if applicable) and the return on plan assets (excluding interest), is reflected immediately in the statement of financial position with a charge or credit recognised in other comprehensive income in the period in which they occur.

Remeasurement recognised in other comprehensive income is reflected immediately in retained earnings and will not be reclassified to profit or loss. Past service cost is recognised in profit or loss in the period of a plan amendment. Net interest is calculated by applying the discount rate at the beginning of the period to the net defined benefit liability or asset. Defined benefit costs are categorised as follows:

• service cost (including current service cost, past service cost, as well as gains and losses on curtailments and settlements);

• net interest expense or income; and

• remeasurement.

(1) Gratuity:

The Company has an obligation towards gratuity, a defined benefit retirement plan covering eligible employees. The plan provides for a lump sum payment to vested employees at retirement, death while in employment or on termination of employment of an amount equivalent to 15/26 days salary payable for each completed year of service. Vesting occurs upon completion of five years of service. The Company accounts for the liability for gratuity benefits payable in future based on an independent actuarial valuation. The Company has taken a Group Gratuity cum Life Assurance Scheme with Life Insurance Corporation for future payment of gratuity to the eligible employees.

(2) Compensated Absences:

The Employees of the company are required to utilize their compensated absences during the financial year itself. The company neither provides for encashment nor accumulation of unutilized compensated expenses.

j) Taxation

Income tax expense comprises current tax expense and the net change in the deferred tax asset or liability during the year. Current and deferred tax are recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax are also recognised in other comprehensive income or directly in equity, respectively. Income tax expense represents the sum of the tax currently payable and deferred tax.

Current income tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from ‘profit before tax'' as reported in the statement of profit or loss and other comprehensive income/statement of profit or loss because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible.

The Company''s current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred income taxes

Deferred income tax is recognized using the balance sheet approach. Deferred income tax assets and liabilities are recognized for deductible and taxable temporary differences arising between the tax base of assets and liabilities and their carrying amount, except when the deferred income tax arises from the initial recognition of goodwill or an asset or liability in a transaction that is not a business combination and affects neither accounting nor taxable profit or loss at the time of the transaction.

Deferred income tax asset are recognized to the extent that it is probable that taxable profit will be available against which the deductible temporary differences and the carry forward of unused tax credits and unused tax losses can be utilised. The carrying amount of deferred income tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred income tax asset to be utilised.

Deferred tax assets and liabilities are measured using substantively enacted tax rates expected to apply to taxable income in the years in which the temporary differences are expected to be received or settled.

Deferred tax assets and liabilities are offset when they relate to income taxes levied by the same taxation authority and the relevant entity intends to settle its current tax assets and liabilities on a net basis.

k) Financial Instruments

Financial assets and liabilities are recognized when the Company becomes a party to the contractual provisions of the instrument. Financial assets and liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets

and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added to or deducted from the fair value measured on initial recognition of financial asset or financial liability.

Cash and cash equivalents

The Company considers all highly liquid financial instruments, which are readily convertible into known amounts of cash that are subject to an insignificant risk of change in value and having original maturities of three months or less from the date of purchase, to be cash equivalents. Cash and cash equivalents consist of balances with banks which are unrestricted for withdrawal and usage.

Financial Assets at Amortized Cost

Financial assets are subsequently measured at amortized cost if these financial assets are held within a business whose objective is to hold these assets 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 profit and Loss (FVTPL)

Financial assets at FVTPL are measured at fair value at the end of each reporting period, with any gains or losses arising on re-measurement recognized in profit and loss. The net gain or loss recognized in profit and loss incorporates any dividend or interest earned on the financial asset and is included in the ''Other Income / Other expenses'' line item. Dividend on financial assets at FVTPL is recognized when the Company''s right to receive the dividends is established, it is probable that the economic benefits associated with the dividend will flow to the entity and the amount of dividend can be measured reliably.

Financial assets atFairValueThroughothercomprehensive income ( FVTOCI)

Financial assets at FVTOCI are measured at fair value through other comprehensive income if these financial assets are held within a business whose objective is to hold these assets 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 and selling financial assets.

The company has made an irrevocable election to present subsequent change in the fair value of Debt instruments not held for trading in other comprehensive income.

Reclassification of Financial Assets

The Company determines classification of financial assets and liabilities on initial recognition. After initial recognition, no reclassification is made for financial assets which are equity instruments and financial liabilities. For financial assets which are debt instruments, a reclassification is made only if there is a change in the business model for

managing those assets. Changes to the business model are expected to be infrequent. The Company''s senior management determines change in the business model as a result of external or internal changes which are significant to the company''s operations. Such changes are evident to external parties. A change in the business model occurs when a company either begins or ceases to perform an activity that is significant to its operations. If the Company reclassifies financial assets, it applies the reclassification prospectively from the reclassification date which is the first day of the immediately next reporting period following the change in business model. The Company does not restate any previously recognized gains, losses (including impairment gains and losses) or interest.

those which are designated as hedging instruments in a hedging relationship.

Impairment of financial assets

The Company applies the expected credit loss model for recognizing impairment loss on financial assets measured at amortized cost, lease receivables, trade receivables, other contractual rights to receive cash or other financial asset, and financial guarantees not designated as at FVTPL

For trade receivables or any contractual rights to receive cash or another financial assets that results from transactions that are within the scope of Ind AS 18, the Company always measures their allowances at an amount equal to lifetime expected credit losses.

Further, for the purpose of measuring lifetime expected credit loss allowance for trade receivable, the Company has used a practical expedient as permitted under Ind AS 109. This expected credit loss allowance is computed based on a provision matrix which takes into account historical credit loss experience and adjusted for forwardlooking information.

Derecognition of financial assets

The Company de-recognizes a financial asset when contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another party. If the Company neither transfers nor retains substantially all the risks and rewards of ownership and continues to control the transferred asset, the Company recognizes its retained interest in the asset and an associated liability for amounts it may have to pay. If the Company retains substantially all the risks and rewards of ownership of a transferred financial asset, the Company continues to recognize the financial asset and also recognizes a collateralized borrowing for the proceeds received.

Foreign exchange gains and losses

The fair value of financial assets denominated in a foreign currency is determined in that foreign currency and translated at the spot rate at the end of each reporting period.

For foreign currency denominated financial assets measured at amortized cost and FVTPL, exchange differences are recognized in profit and loss, except for

---

Mar 31, 2014

(i) Basis of Accounting

The financial statements have been prepared and presented under the historical cost convention on accrual basis of accounting in accordance with the accounting principles generally accepted in India and in compliance with provisions of the Companies Act, 1956 and comply with the mandatory Accounting Standards (AS) specified in the Companies (Accounting Standard) Rules, 2006, prescribed by the Central Government.

The accounting policies have been consistently applied by the company.

(ii) Revenue Recognition

a. Revenue from services is recognized as and when services are rendered as per terms of contract.

b. Income from investments/other income is recognized on accrual basis.

c. Revenue from sale of goods is recognized when significant risk and rewards in respect of ownership of product is transferred to the customers, which is generally on dispatch of goods.

(iii) Investment

Long Term investment are stated as cost, other than temporary investments, if any.

(iv) Fixed Assets

Fixed assets are stated at cost of acquisition or construction including installation cost, attributable interest and financial cost till such time assets are ready for its intended use, and foreign exchange fluctuation on long term borrowing related to fixed assets, less accumulated depreciation, impairment losses and specific grants received if any.

(v) Depreciation and amortization

a. Depreciation on fixed assets except free hold land is calculated on straight line basis at the rates specified in accordance with the Schedule XIV of the Companies Act, 1956.

b. Product Development expenditure and License/Technical know-how fees are amortized over a period of 10 years from the accounting year in which the commercial production of such improved product commences.

(vi) Foreign Currency Transactions

a. Foreign Currency transactions are recorded on the basis of exchange rates prevailing on the date of their occurrence.

b. Foreign currency monetary assets and liabilities as on the Balance Sheet date are revalued in the accounts on the basis exchange rates prevailing at the close of the year and exchange difference arising there-from is charges/credited to the Statement of Profit & Loss except for the exchange difference arising on long term borrowings related to fixed assets, which capitalized.

(vii) Borrowing Cost

As per Accounting Standard 16 on " Borrowing Costs" borrowing costs that are: (a) directly attributable to the acquisition, construction, production of a qualifying assets are capitalized as a part of cost of such asset till the time the assets is ready for its intended use and (b) not directly attributable to qualifying assets are determined by applying a weighted average rate and are capitalized as a part of the cost of such qualifying asset till the time the asset is ready for its intended use. Remaining borrowing costs are recognized as an expense in the period in which they are incurred.

(viii) Contingencies and Provisions

A provision is recognized when the Company has a present obligation as a result of past event. It is probable that an outflow of resources embodying economic benefit will be required to settle the obligation in respect of which a reliable estimate can be made. Provisions are not discounted to its present value and are determined based on the best estimate of the expenditure required to settle the obligation at the balance sheet date. These are reviewed at each Balance Sheet date and adjusted to reflect current best estimate.

A contingent liability is disclosed unless the possibility of an outflow of resources embodying the economic benefit is remote.

(ix) Taxation

Tax expense comprises of current tax and deferred tax charge or credit. Current tax is measured at the amount to be paid to tax authorities in accordance with the Indian Income Tax Act. The deferred tax charge or credit is recognized using prevailing enacted or substantively enacted tax rate. Where there is unabsorbed depreciation or carry forward losses, deferred tax assets. Other deferred tax assets are recognized only to the extent there is reasonable certainly of realization in future.

Deferred tax assets/liabilities are reviewed as at each balance sheet date based on developments during the period and available case law to rea-asses realization/liabilities.

---

Mar 31, 2013

(i) Basis of Accounting

The financial statements have been prepared and presented under the historical cost convention on accrual basis of accounting in accordance with the accounting principles generally accepted in India and in compliance with provisions of the Companies Act, 1956 and comply with the mandatory Accounting Standards (AS) specified in the Companies (Accounting Standard) Rules, 2006, prescribed by the Central Government.

The accounting policies have been consistently applied by the Company.

(ii) Revenue Recognition

a. Revenue from services is recognized as and when services are rendered as per terms of contract.

b. Income from investments/other income is recognized on accrual basis.

c. Revenue from sale of goods is recognized when significant risk and rewards in respect of ownership of product is trnasferred to the customers, which is generally on dispatch of goods.

(iii) Investments

Long Term investments are stated as cost, other than temporary, if any.

(iv) Fixed Assets

Fixed assets are stated at cost of acquisition or construction including installation cost, attributable interest and financial cost till such time assets are ready for its intended use, and foreign exchange fluctuation on long term borrowing related to fixed assets, less accumulated depreciation, impairment losses and specific grants received if any.

(v) Depreciation and amortization

a. Depreciation on fixed assets except free hold land is calculated on straight line basis at the rates specified in accordance with the Schedule XIV of the Companies Act, 1956.

b. Product Development expenditure and License/Technical know-how fees are amortized over a period of 10 years from the accounting year in which the commercial production of such improved product commences.

(vi) Foreign Currency Transactions

a. Foreign Currency transactions are recorded on the basis of exchange rates prevailing on the date of their occurance.

b. Foreign currency monetary assets and liabilities as on the Balance Sheet date are revalued in the accounts on the basis exchange rates prevailing at the close of the year and exchange difference arising there-from is charges/credited to the Statement of Profit & Loss except for the exchange difference arising on long term borrowings related to fixed assets, which capitalized.

(vii) Borrowing Cost

As per Accounting Standard 16 on "Borrowing Costs" borrowing costs that are: (a) directly attributable to the acquisition, construction, production of a qualifying assets are capitalized as a part of cost of such asset till the time the assets is ready for its intended use and (b) not directly attributable to qualifying assets are determined by applying a weighted average rate and are capitalized as a part of the cost of such qualifying asset till the time the asset is ready for its intended use. Remaining borrowing costs are recognized as an expanse in the period in which they are incurred.

(viii) Contingencies and Provisions

A provision is recognized when the Company has a present obligation as a result of past event. It is probable that an outflow of resources embodying economic benefit will be required to settle the obligation in respect of which a reliable estimate can be made. Provisions are not discounted to its present value and are determined based on the best estimate of the expenditure required to settle the obligation at the balance sheet date. These are reviewed at each Balance Sheet date and adjusted to reflect current best estimate.

A contingent liability is disclosed unless the possibility of an outflow of resources embodying the economic benefit is remote.

(ix) Taxation

Tax expense comprises of current tax and deferred tax charge or credit. Current tax is measured at the amount to be paid to tax authorities in accordance with the Indian Income Tax Act. The deferred tax charge or credit is recognized using prevalling enacted or substantively enacted tax rate. Where there is unabsorbed depreciation or carry forward losses, deferred tax assets. Other deferred tax assets are recognized only to the extent there is reasonable certainly of realization in future.

Deferred tax assets/liabilities are reviewed as at each balance sheet date based on developments during the period and available case law to re-asses realization / liabilities.

---

Mar 31, 2012

(i) Basis of Accounting

The financial statements have been prepared and presented under the historical cost convention on accrual basis of accounting in accordance with the accounting principles generally accepted in India and in compliance with provisions of the Companies Act, 1956 and comply with the mandatory Accounting Standards (AS) specified in the Companies (Accounting Standard) Rules, 2006, prescribed by the Central Government. The accounting policies have been consistently applied by the company.

(ii) Revenue Recognition

a. Revenue from services is recognized as and when services are rendered as per terms of contract.

b. Income from investments/other income is recognized on accrual basis.

c. Revenue from sale of goods is recognized when significant risk and rewards in respect of ownership of product is transferred to the customers, which is generally on dispatch of goods.

(iii) Investments

Long Term investments are stated as cost, other than temporary, if any.

(iv) Fixed Assets

Fixed assets are stated at cost of acquisition or construction including installation cost, attributable interest and financial cost till such time assets are ready for its intended use, and foreign exchange fluctuation on long term borrowing related to fixed assets, less accumulated depreciation, impairment losses and specific grants received if any.

(v) Depreciation and Amortization

a. Depreciation on fixed assets except free hold land is calculate on straight line basis at the rates specified in accordance with the Schedule XIV of the Companies Act, 1956.

b. Product Development expenditure and License/Technical know-how fees are amortized over a period of 10 years from the accounting year in which the commercial production of such improved product commences.

(vi) Foreign Currency Transactions

a. Foreign Currency transactions are recorded on the basis of exchange rates prevailing on the date of their occurrence.

b. Foreign currency monetary assets and liabilities as on the Balance Sheet date are revalued in the accounts on the basis exchange rates prevailing at the close of the year and exchange difference arising there-from is charges/credited to the Statement of Profit & Loss except for the exchange difference arising on long term borrowing related to fixed assets, which capitalized.

(vii) Borrowing Cost

As per Accounting Standard (AS) 16 on "Borrowing Costs" borrowing costs that are: (a) directly attributable to the acquisition, construction, production of a qualifying assets are capitalized as a part of cost of such asset till the time the assets is ready for its intended use and (b) not directly attributable to qualifying assets are determined by applying a weighted average rate and are capitalized as a part of the cost of such qualifying asset till the time the asset is ready for its intended use. Remaining borrowing costs are recognized as an expanse in the period in which they are incurred.

(viii) Contingencies and Provisions

A provision is recognized when the Company has a present obligation as a result of past event. It is probable that an outflow of resources embodying economic benefit will be required to settle the obligation in respect of which a reliable estimate can be made. Provisions are not discounted to its present value and are determined based on the best estimate of the expenditure required to settle the obligation at the balance sheet date. These are reviewed at each Balance Sheet date and adjusted to reflect current best estimate.

A contingent liability is disclosed unless the possibility of an outflow of resources embodying the economic benefit is remote.

(ix) Taxation

Tax expense comprises of current tax and deferred tax charge or credit. Current tax is measured at the amount to be paid to tax authorities in accordance with the Indian Income Tax Act. The deferred tax charge or credit is recongnized using prevailing enacted or substantively enacted tax rate. Where there is unabsorbed deprecation or carryin forward losses, deferred tax assets. Other deferred tax assets are recongnized only to the extent there is reasonable certainly of relization in future. Deferred tax assets/liabilities are reviewed as at each balance sheet date based on developments during the period and available case law to reassess realization/liabilities.

---

Mar 31, 2011

A. Basis of Accounting:-

Financial Statements are prepared under historical cost convention on accrual basis.

b. Foreign Currency Transactions:-

There are no foreign currency transaction during the year.

c. Depreciation:-

Depreciation on all Fixed Assets have been provided on Straight Line Method at the rates prescribed in schedule XIV to the Companies Act, 1956. Depreciation on Assets leased is provided on Straight line basis as per the rates prescribed under Schedule XIV to the Companies Act, 1956 and not equal to annual lease charge where 100% of the cost of assets is depreciated over the primary period of lease, as recommended by the Institute of Chartered Accountants of India.

d. Investments:-

i) Quoted & Unquoted:-

Long Term Investments are stated at cost.

f. Valuation of Inventories:-

There are no Inventories during the year.

g. Revenue Recognition:-

Dividend and interest on Debentures are accounted on receipt basis.

h. Reconciliation of parties accounts :-

In case of certain parties reconciliation are pending for want of proper documents/information.

i. Accounts made for the period up to March 2010 have a carried forward book loss. Hence no provisions u/s section 115JA of the Income Tax Act, 1961 has been made.

j. Contingent Liabilities not provided for in the books are separately stated in the Notes to Accounts.

k. No deduction is made from Professional fees paid in excess of Rs. 20,000/-.

---

Mar 31, 2010

A. Basis of Accounting:-

Financial Statements are prepared under historical cost convention on accrual basis.

b. Foreign Currency Transactions:-

There are no foreign currency transaction during the year.

c. Depreciation:-

Depreciation on all Fixed Assets have been provided on Straight Line Method at the rates prescribed in schedule XIV to the Companies Act, 1956. Depreciation on Assets leased is provided on Straight line basis as per the rates prescribed under Schedule XIV to the Companies Act, 1956 and not equal to annual lease charge where 100% of the cost of assets is depreciated over the primary period of lease, as recommended by the Institute of Chartered Accountants of India.

d. Investments:-

i) Quoted & Unquoted:-

Long Term Investments are stated at cost.

e. Valuation of Inventories:-

There are no Inventories during the year.

f. Revenue Recognition:-

Dividend and interest on Debentures are accounted on receipt basis.

g. Reconciliation of parties accounts :-

In case of certain parties reconciliation are pending for want of proper documents/information.

i. Accounts made for the period up to March 2010 have a carried forward book loss. Hence no provisions u/s section 115JA of the Income Tax Act, 1961 has been made.

h. Contingent Liabilities not provided for in the books are separately stated in the Notes to Accounts.

i. No deduction is made from Professional fees paid in excess of Rs. 20,000/-.