Esaar (India) Ltd. कंपली की लेखा नीति

Mar 31, 2025

2 Summary of Significant Accounting Policies

(a) Basis of preparation and Presentation

The Financial Statements have been prepared in accordance with Indian Accounting Standards (Ind AS) as per the Companies (Indian
Accounting Standards) Rules, 2015 as amended from time to time and notified under section 133 of the Companies Act, 2013 (the
Act) along with other relevant provisions of the Act, the guidelines issued by the RBI, wherever applicable and notification for
Implementation of Indian Accounting Standard vide circular RBI/2019-20/170 DOR(NBFC).CC.PD.No.109/22.10.106/2019-20 dated
March 13,2020 ("RBI Notification") issued by RBI as applicable to NBFC. The Company uses accrual basis of accounting except in case
of significant uncertainties. Any application guidance/clarifications/directions issued by RBI or other regulators are implemented as
and when they are issued/applicable.

The Balance Sheet and the Statement of Profit and Loss are prepared and presented in the format prescribed in the Division III to
Schedule III to the Companies Act, 2013 ("the Act”) applicable for Non-Banking Finance Companies ("NBFC”).

(b) Basis of Measurement

The Ind AS Financial Statements have been prepared as a going concern on historical cost basis using Indian Rupees as its functional
and reporting currency, which is depicted as "Rs" or "INR" . The Management has followed the going concern as it is satisfied that the
Company shall be able to continue its business for the foreseeable future and no material uncertainty exists that may cast significant
doubt on the going concern assumption. In making this assessment, the Management has considered a wide range of information
relating to present and future conditions, including future projections of profitability, cash flows and capital resources.

(c) Property, Plant & Equipment

Property, Plant & 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 & Equipment".

(d) Depreciation

The Company has provided for depreciation using the written down value method over the estimated useful life of the assets as
prescribed under part C of Schedule II of the Companies Act, 2013 as per the useful life specified therein.

(e) Financial Instruments

Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instruments.

(f) Financial Assets

1) Initial recognition:

(a) those measured at amortised cost

(b) those to be measured subsequently at fair value through Statement of Profit & Loss.

The classification depends on the entity''s business model for managing the financial assets and the contractual terms of cash flows.
For assets measured at fair value, gains and losses will either be recorded in profit or loss or other comprehensive income as the case
may be.

2) Measurement:

All financial assets are initially recognised at fair value. Transaction costs of acquisition of financial assets carried at fair value through
profit and loss are expensed in the Statement of Profit and Loss.

Amortised cost: Assets that are held for collection of contractual cash flows where those cash flows represent solely payments of
principal and interest are measured subsequently at amortised cost. Interest income from these financial assets is included in Other
income using the effective interest rate method.

3) Impairment of Financial Assets

In accordance with Ind-AS 109, the company uses "Expected Credit Losses (ECL)" model, for evaluating impairment of Financial
Assets other than those measured at Fair Value Through Profit and Loss (FVTPL).

Expected credit losses are measured through as loss allowance at an amount equal to:

The 12-months expected credit losses (expected credit losses that result from those default events on the financial instruments that
are possible within 12 months after the reporting date); or

Full lifetime expected credit losses (expected losses that result from all possible default events over the life of the financial
instrument)

The credit loss is difference between all contractual cash flow that are due to an entity in accordance with the contract and all the
cash flows that the entity expects to receive (i.e. all cash shortfalls), discounted at the original effective interest rate. This is assessed
on an individual or collective basis after considering all reasonable factors including that which are forward-looking.

For trade receivable company applies ''Simplified approach'' which requires expected lifetime losses to be recognised from initial
recognition of the receivables. The Company uses historical default rates to determine impairment loss on the portfolio of trade
receivables. At every reporting date these historical default rates are reviewed and changes in the forward looking estimates are

For other assets, the Company uses 12 months ECL to provide for impairment loss where there is no significant increase in credit risk.
If there is significant increase in credit risk full lifetime ECL is used.

Other Financial Assets mainly consist of Unsecured Loans, Loans to employees, Security Deposit, other deposit, interest accrued on
Fixed Deposits, other receivables and advances measured at amortized cost.

(g) Financial liabilities

1) Initial recognition and measurement

The Company classifies all financial liabilities as subsequently measured at amortised cost, except for financial liabilities at fair value
through profit or loss. Such liabilities, including derivatives that are liabilities, shall be subsequently measured at fair value.

2) Subsequent measurement

Financial liabilities are carried at amortised cost using the effective interest method. For trade and other payables maturing within
one year from the balance sheet date, the carrying amounts approximate fair value due to the short maturity of these instruments.

3) Derecognition of Financial Instruments:

The company derecognises a financial asset when the contractual rights to the cash flows from the Financial Asset expire or it
transfers the Financial Asset and the transfer qualifies for derecognition under Ind AS 109. A Financial Liability (or part of Financial
Liability) is derecognised from the Company''s Balance Sheet when the obligation specified in the contract is discharged or cancelled
or expires.

Offsetting of financial instruments

Financial assets and financial liabilities are offsetted and the net amount is reported in the balance sheet if there is a currently
enforceable legal right to offset the recognized amounts and there is an intention to settle on a net basis, to realize the assets and
settle the liabilities simultaneously.

(h) Fair Value Measurement of Financial Instruments

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 the presumption that the transaction to sell the asset
or transfer the liability takes place either:

• In the principal market for the asset 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 by the Company.

The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset
or liability, assuming that market participants act in their economic best interest.

A fair value measurement of a non-financial asset takes into account a market participant''s ability to generate economic

benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its

highest and best use.

The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to
measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs.All assets and
liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair value hierarchy,
described as follows, based on the lowest level input that is significant to the fair value measurement as a whole:

Level 1 — Quoted (unadjusted) market prices in active markets for identical assets or liabilities

Level 2 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or
indirectly observable.

Level 3 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable.For
assets and liabilities that are recognized in the financial statements on a recurring basis, the Company determines whether transfers

(i) Revenue Recognition

Interest income from a financial asset is recognized when it is probable that the economics benefits will flow to the company and the
amount of income can be measured reliably. Sale of shares and securities is accounted on execution of contract notes.

Dividend income on equity shares is recognized when the Company’s right to receive the payment is established, which is generally
when shareholders approve the dividend. Dividends on trading inventory are recognized as operating income, while dividends on
_investment are classified as "Other income"._

(j) Cash, cash equivalents and other bank deposits

Cash and cash equivalents include cash on hand and other short term, highly liquid investments with original maturities of three
months or less thar are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in
value.

Bank deposits with maturity exceeding three months are disclosed in "Bank balance other than above" i.e.other than cash and cash
equivalents.

(k) Inventories

Inventories comprise of Shares and are valued at fair value has per Ind AS 109 "Financial Instruments" . Cost for the purpose of
closing stock valuation has been taken as per the closing Market Value of the respective scrip.

(l) Employee Benefits

Employee benefits are provided in the books in the following manner:

Defined Contribution Plans : Company''s contributions paid/ payable during the year to provident fund is recognised in the Statement
of Profit & Loss.

Defined Benefit Plans: The company''s liabilities towards gratuity and leave encashment, a defined benefit obligation, has been made
on the basis of actual amount due as against the past practice of actuarial valuation due to insignificant number of employees.

(m) Direct Taxes
Current Tax

Income tax expense represents the sum of current tax and deferred tax and includes any adjustments related to past periods in
current and /or deferred tax adjustments that may become necessary due to certain developments or reviews during the relevant
year. Current income tax is based on the taxable income and calculated using the applicable tax rates.

Current tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities, in
accordance with the Income Tax Act, 1961 and the Income Computation and Disclosure Standards (ICDS) prescribed therein. The tax
rates and tax law used to compute the amounts are those that are enacted or substantively enacted, at the reporting date.

Advance taxes and provisions for current income taxes are presented in the balance sheet after off-setting advance tax paid and
income tax provision.

Deferred Tax

Deferred income tax is provided, using the liability method, on all temporary difference at the balance sheet date between the tax
bases of asset and the carrying amount liabilities used in the computation of taxable profit and their carrying amounts in the financial
statements for financial reporting purposes.

Deferred tax liabilities are recognized for all taxable temporary differences and deferred tax assets are recognized for deductible
temporary differences to the extent that it is probable that taxable profits will be available against which the deductible temporary
differences can be utilized.

The carrying amount of deferred 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 tax asset to be utilized. Unrecognized deferred tax
assets, if any, are reassessed at each reporting date and are recognized to the extent that it has become probable that future taxable
profits will allow the deferred tax asset to be recovered.

Deferred tax asset and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realized or the
liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date.

Deferred tax relating to items recognized outside the Statement of Profit and Loss is recognized either in OCI or in Other Equity.
Deferred tax asset 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, 2024

Statement of Compliance and Basis for Preparation and Presentation of Financial

These Standalone Or Separate Financial Statements Of The Company Have Been Prepared In
Accordance With The Indian Accounting Standards ("Ind AS") As Per The Companies (Indian
Accounting Standards) Rules 2015 As Amended And Notified Under Section 133 Of The
Companies Act, 2013 ("The Act"), And In Conformity With The Accounting Principles Generally
Accepted In India And Other Relevant Provisions Of The Act. Further, the Company Has
Complied with All the Directions Related to Implementation of Indian Accounting Standards
Prescribed for Non-Banking Financial Companies (NBFCS) In accordance with the RBI
Notification No. RBI/2019-20/170 DOR NBFC).CC.PD.No.109/22.10.106/2019-20 Dated 13
March 2020. Any Application Guidance/ Clarifications/ Directions Issued By RBI Or Other
Regulators Are Implemented As And When They Are Issued/ Applicable.

These Standalone or Separate Financial Statements have Been Approved by the Company''s
Board of Directors and Authorized for Issue on 27^th May 2024.

Statement of compliance

The financial statements have been prepared in accordance with the provisions of the
Companies Act, 2013 and the Indian Accounting Standards (Ind AS) notified under the
Companies (Indian Accounting Standards) Rules, 2015 (as amended from time to time) issued
by Ministry of Corporate Affairs in exercise of the powers conferred by section 133 read with
sub-section (1) of section 210A of the Companies Act, 2013. In addition, the guidance
notes/announcements issued by the Institute of Chartered Accountants of India (ICAI) are also
applied along with compliance with other statutory promulgations which require a different
treatment.

The financial statements have been prepared on a historical cost basis, except certain financial
assets and liabilities measured at fair value (refer accounting policy regarding financial
instruments) at the end of each reporting period. Historical cost is generally based on the fair
value of the consideration given in exchange for goods and services. 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, regardless of whether that price is
directly observable or estimated using another valuation technique. In estimating the fair value
of an asset or a liability, the Company takes into account the characteristics of the asset or
liability if market participants would take those characteristics into account when pricing the
asset or liability at the measurement date. Fair value for measurement and / or disclosure
purposes in these financial statements is determined on this basis. Fair value measurements
are categorized into Level 1, 2, or 3 based on the degree to which the inputs to the fair value
measurements are observable and the significance of the inputs to the fair value measurement
in its entirety.

• Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or

• Level 2 inputs are inputs, other than quoted prices included within Level 1, that are

• Level 3 inputs are unobservable inputs for the asset or liability.

Application of new and revised Ind AS

All the Ind AS issued and notified by the Ministry of Corporate Affairs under the Companies
(Indian Accounting Standards) Rules, 2015 (as amended) till the financial statements are
authorised for issue have been considered in preparing these financial statements.

Presentation of financial statements

The Balance Sheet and the Statement of Profit and Loss are prepared and presented in the
format prescribed in the Division III to Schedule III to the Companies Act, 2013 (“the Act”)
applicable for Non-Banking Finance Companies (“NBFC”).

The Statement of Cash Flows has been prepared and presented as per the requirements of Ind
AS 7 “Statement of Cash Flows”. The disclosure requirements with respect to items in the
Balance Sheet and Statement of Profit and Loss, as prescribed in the Schedule III to the Act, are
presented by way of notes forming part of the financial statements along with the other notes
required to be disclosed under the notified accounting Standards and the SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015.

2.2 Functional and Presentation Currency

These Financial Statements Are Presented in Indian Rupees (''INR'' Or ''Rs.'') which is also The
Company''s Functional Currency. All Amounts Are Rounded-Off to the nearest ten, Unless
Otherwise Indicated.

2.3 Basis of Measurement

The Financial Statements Have Been Prepared On A Historical Cost Convention and on an
Accrual Basis, except For Certain Financial Instruments Which Are Measured At Fair Values As
Required By Relevant Ind AS.

Measurement of Fair Values

A Number of Company''s Accounting Policies and Disclosures required the measurement of fair
Values, For Both Financial and Non-Financial Assets and Liabilities. The Company Has
Established Policies And Procedures With Respect To The Measurement Of Fair Values. Fair
Values Are Categorized Into Different Levels In A Fair Value Hierarchy Based On The Inputs
Used In The Valuation Techniques As Follows:

Level 1: Quoted Prices (Unadjusted) In Active Markets For Identical Assets And Liabilities.

Level 2: Inputs other than Quoted Prices Included In Level 1 That Are Observable For The
Asset Or Liability, Either Directly Or Indirectly.

Level 3: Inputs for The Asset or Liability Y That Are Not Based on Observeable Market Data
(Unobservable Inputs).

Use of Estimates and Judgments and Estimation Uncertainty

In preparing these financial statements, Management Has Made Judgments, Estimates and
Assumptions That Affect the Application of the Company''s Accounting Policies and the
Reported Amounts of Assets, Liabilities, Income, Expenses and the Disclosures of Contingent
Assets and Liabilities. Actual Results May Differ From These Estimates. Estimates And
Underlying Assumptions Are Reviewed On An Ongoing Basis. Revisions To Estimates Are
Recognized Prospectively.

The Key Assumptions Concerning The Future And Other Key Sources Of Estimation
Uncertainty At The Reporting Date That Have A Significant Risk Of Causing A Material
Adjustment To The Carrying Amounts Of Assets And Liabilities Within The Next Financial Year
Are Described Below. The Company Based Its Assumptions And Estimates On Parameters
Available When The Financial Statements Were Issued. Existing Circumstances And
Assumptions About Future Developments, However, May Change Due To Market Changes Or
Circumstances Arising That Are Beyond The Control Of The Company. Such Changes Are
Reflected In The Assumptions When They Occur.

Following are Areas That Involved a Higher Degree of Estimate and Judgment or Complexity in
Determining the Carrying Amount of Some Assets and Liabilities.

Effective Interest Rate (EIR) Method

The company recognize interest income/ expense using a rate of return that represents the
best estimate of a cons t ant rate of return over the expected life of the loans given / taken. This
estimation, by nature, requires an element of judgment regarding the expected behavior and
life-cycle of the instruments, as well as expected changes to other fee income/expense that are
integral parts of the instrument.

Impairment of Financial Assets

The measurement of impairment losses on loan assets and commitments requires judgment, in
estimating the amount and timing of future cash flows and recoverability y of collateral values
while determining the impairment losses and assessing a significant increase in credit risk.

THE COMPANY''S EXPECTED CREDIT LOSS (ECL) calculation is the output of a complex model
with a number of underlying assumptions regarding the choice of variable inputs and their
interdependencies. Elements of the ECL model that are considered accounting judgments and
estimates include:

- The Company''s Criteria for Assessing If There Has Been a Significant Increase in
Credit Risk.

- The Segmentation of Financial Assets When Their ECL Is Assessed On a Collective
Basis.

- Development of ECL Model, Including the Various Formulae and the Choice of
Inputs.

- Selection of Forward-Looking Macroeconomic Scenarios and Their Probability
Weights, To Derive the Economic Inputs into the ECL Model.

- Management Overlay Used In Circumstances Where Management Judges That The
Existing Inputs, Assumptions And Model Techniques Do Not Capture All The Risk
Factors Relevant To The Company''s Lending Portfolios.

It Has Been the Company''s Policy to Regularly Review Its Model in the Context of Actual Loss
Experience and Adjust When Necessary.

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Mar 31, 2015

A) Basis of preparation of financial statements

The financial statements are prepared in accordance with Generally Accepted Accounting Principles ("GAAP") in India under the historical cost convention, on accrual basis. GAAP comprises mandatory Accounting Standards issued by the Companies (Accounting Standards) Amendment Rules, 2008 and the relevant provisions of the Companies Act, 2013. The accounting policies have been consistently applied by the Company and are consistent with those used in the previous year.

b) Inventory valuation

Items of inventories are measured at lower of cost and net realizable value after providing for obsolescence. Cost of inventories comprises of cost of purchase, cost of conversion bringing them to their respective present location and condition. Inventories are determined on First-in-First-Out (FIFO) basis.

c) Use of Estimates

The preparation of financial statements requires the management of the Company to make estimates and assumptions that affect the reported balances of assets and liabilities and disclosures relating to the contingent liabilities as at the date of the financial statements and reported amounts of income and expense during the year. Examples of such estimates include provisions for doubtful receivables, employee benefits, provision for income taxes, accounting for contract costs expected to be incurred, the useful lives of depreciable fixed assets and provisions for impairment. Future results could differ due to changes in these estimates and the difference between the actual result and the estimates are recognized in the period in which the results are known / materialize.

d) Revenue recognition

1. Income from Operation is recognized upon transfer of significant risks and rewards of ownership to the buyer.

2. Other Income is recognized to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured.

3. Dividend is recognized when the shareholders' right to receive payment is established at the balance sheet date.

e) Fixed Assets

Tangible Assets

Fixed assets are stated at cost, less accumulated depreciation and impairment losses if any. Cost comprises the purchase price and any attributable cost of bringing the asset to its working condition for its intended use. Borrowing costs relating to acquisition of fixed assets which takes substantial period of time to get ready for its intended use are also included to the extent they relate to the period till such assets are ready to be put to use. Capital work in progress includes expenditure incurred till the assets are put into intended use.

Intangible Assets

Intangible Assets are stated at cost of acquisition net of recoverable taxes less accumulated amortization/ depletion and impairment loss, if any. The cost comprises purchase price, borrowing costs, and any cost directly attributable to bringing the asset to its working condition for the intended use and net charges on foreign exchange contracts and adjustments arising from exchange rate variations attributable to the intangible assets.

f) Depreciation

Depreciation on tangible assets is provided using the Straight Line Method over the useful lives of the assets estimated by the Management. Depreciation for the assets purchased / sold during the year is proportionately charged as prescribed in Schedule II to the Companies Act, 2013. Intangible assets are amortized over their respective individual estimated useful lives on a straight line basis, commencing from the date the asset is available to the Company for its use.

g) Impairment of assets

The carrying amounts of assets are reviewed at each balance sheet dates and if there is any indication of impairment based on internal/external factors. An impairment loss is recognized wherever the carrying amount of an asset exceeds its recoverable amount. The recoverable amount is the greater of the asset's net selling price and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value at the weighted average cost of capital. If at the balance sheet date, there is an indication that a previously assessed impairment loss no longer exists, then such loss is reversed and the asset is restated to extent of the carrying value of the asset that would have been determined (net of amortization / depreciation), had no impairment loss been recognized.

After impairment, depreciation is provided on the revised carrying amount of the asset over its remaining useful life.

h) Investments

Investments that are readily realizable and intended to be held for not more than one year are classified as current investments. All other investments are classified as long-term investments. Current investments are carried at lower of cost or fair value determined on individual investment basis. Long- term investments are carried at cost. However, provision for diminution in value is made to recognize a decline other than temporary decline in the value of the investments.

i) Taxation

Tax expense comprises of current income tax and deferred income tax. Current income tax is measured at the amount expected to be paid to the tax authorities in accordance with the Indian Income Tax Act. Deferred income taxes reflects the impact of current year timing differences between taxable income and accounting income for the year and reversal of timing differences of earlier years. Deferred tax is measured based on the tax rates and the tax laws enacted or substantively enacted at the balance sheet date. Deferred tax assets are recognized only to the extent that there is reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realized. In situations where the company has unabsorbed depreciation or carry forward tax losses, all deferred tax assets are recognized only if there is virtual certainty supported by convincing evidence that they can be realized against future taxable profits. At each balance sheet date, the Company re-assesses unrecognized deferred tax assets. It recognizes unrecognized deferred tax assets to the extent that it has become reasonably certain, as the case may be, that sufficient future taxable income will be available against which such deferred tax assets can be realized. Minimum Alternative Tax (MAT) credit is recognized as an asset and carried forward only if there is a reasonable certainty of it being set off against regular tax payable within the stipulated statutory period.

j) Foreign Currency Transactions

Transactions in foreign currency are recorded at the rate of exchange in force on the date of the transactions. Current assets and Current liabilities in foreign currency are translated at the exchange rate prevalent at the date of the Balance Sheet.

Any income or expenses on account of exchange difference either on settlement or on translation is recognized in the Profit and Loss account except in case of long term liabilities, where they relate to acquisition of fixed assets, in which case they are adjusted to the carrying cost of such assets.

k) Earnings Per Share

Basic earnings per share is calculated by dividing the net profit or loss for the year attributable to equity shareholders (after deducting preference dividends and attributable taxes) by the weighted average number of equity shares outstanding during the year. The weighted average number of equity shares outstanding during the year is adjusted for events of bonus issue, bonus element in a rights issue to existing shareholders, share split and reverse share split (consolidation of shares).

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

l) Provisions, Contingent Liabilities and Contingent Assets

A provision is recognized when an enterprise has a present obligation as a result of past event; it is probable that an outflow of resources 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 best estimate required to settle the obligation at the balance sheet date. These are reviewed at each balance sheet date and adjusted to reflect the current best estimates.

Possible future obligations or present obligations that may arise but will probably not require outflow of resources or where the same cannot be reliably estimated, are disclosed as contingent liabilities in the notes to accounts of financial statements.

Contingent Assets are neither recognized nor disclosed in the financial statements.

m) Cash Flow Statement

Cash flow statement has been prepared under the 'Indirect Method'. Cash and cash equivalents, in the cash flow statement comprise unencumbered cash and bank balances.

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Mar 31, 2014

A) Basis of preparation of financial statements

The financial statements are prepared in accordance with Generally Accepted Accounting Principles ("GAAP") in India under the historical cost convention, on accrual basis. GAAP comprises mandatory Accounting Standards issued by the Companies (Accounting Standards) Amendment Rules, 2008 and the relevant provisions of the Companies Act, 1956. The accounting policies have been consistently applied by the Company and are consistent with those used in the previous year.

b) Use of Estimates

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. Although these estimates are based upon management''s best knowledge of current events and actions, actual results could differ from these estimates. Any revision to the accounting estimates is recognized prospectively.

c) Revenue recognition

1. Income from Operation is recognised upon transfer of significant risks and rewards of ownership to the buyer.

2. Other Income is recognized to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured.

3. Dividend is recognised when the shareholders'' right to receive payment is established at the balance sheet date.

d) Fixed Assets

Fixed assets are stated at cost, less accumulated depreciation and impairment losses if any. Cost comprises the purchase price and any attributable cost of bringing the asset to its working condition for its intended use. Borrowing costs relating to acquisition of fixed assets which takes substantial period of time to get ready for its intended use are also included to the extent they relate to the period till such assets are ready to be put to use. Capital work in progress includes expenditure incurred till the assets are put into intended use.

e) Depreciation

Depreciation is provided using the Straight Line Method at the rates and in the manner as prescribed under schedule XIV of the Companies Act, 1956. In case of Software, the same is amortized over a period of five years.

f) Impairment of assets

The carrying amounts of assets are reviewed at each balance sheet dates and if there is any indication of impairment based on internal/external factors. An impairment loss is recognized wherever the carrying amount of an asset exceeds its recoverable amount. The recoverable amount is the greater of the asset''s net selling price and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value at the weighted average cost of capital. If at the balance sheet date, there is an indication that a previously assessed impairment loss no longer exists, then such loss is reversed and the asset is restated to extent of the carrying value of the asset that would have been determined (net of amortization / depreciation), had no impairment loss been recognized.

After impairment, depreciation is provided on the revised carrying amount of the asset over its remaining useful life.

g) Investments

Investments that are readily realizable and intended to be held for not more than one year are classified as current investments. All other investments are classified as long-term investments. Current investments are carried at lower of cost or fair value determined on individual investment basis. Long-term investments are carried at cost. However, provision for diminution in value is made to recognize a decline other than temporary decline in the value of the investments.

h) Taxation

Tax expense comprises of current income tax and deferred income tax. Current income tax is measured at the amount expected to be paid to the tax authorities in accordance with the Indian Income Tax Act. Deferred income taxes reflects the impact of current year timing differences between taxable income and accounting income for the year and reversal of timing differences of earlier years. Deferred tax is measured based on the tax rates and the tax laws enacted or substantively enacted at the balance sheet date. Deferred tax assets are recognised only to the extent that there is reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realized. In situations where the company has unabsorbed depreciation or carry forward tax losses, all deferred tax assets are recognised only if there is virtual certainty supported by convincing evidence that they can be realized against future taxable profits. At each balance sheet date, the Company re-assesses unrecognized deferred tax assets. It recognizes unrecognized deferred tax assets to the extent that it has become reasonably certain, as the case may be, that sufficient future taxable income will be available against which such deferred tax assets can be realized. Minimum Alternative Tax (MAT) credit is recognised as an asset and carried forward only if there is a reasonable certainty of it being set off against regular tax payable within the stipulated statutory period.

i) Foreign Currency Transactions

Transactions in foreign currency are recorded at the rate of exchange in force on the date of the transactions. Current assets and Current liabilities in foreign currency are translated at the exchange rate prevalent at the date of the Balance Sheet.

Any income or expenses on account of exchange difference either on settlement or on translation is recognized in the Profit and Loss account except in case of long term liabilities, where they relate to acquisition of fixed assets, in which case they are adjusted to the carrying cost of such assets.

j) Earnings Per Share

Basic earnings per share is calculated by dividing the net profit or loss for the year attributable to equity shareholders (after deducting preference dividends and attributable taxes) by the weighted average number of equity shares outstanding during the year. The weighted average number of equity shares outstanding during the year is adjusted for events of bonus issue, bonus element in a rights issue to existing shareholders, share split and reverse share split (consolidation of shares).

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

k) Provisions, Contingent Liabilities and Contingent Assets

A provision is recognized when an enterprise has a present obligation as a result of past event it is probable that an outflow of resources 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 best estimate required to settle the obligation at the balance sheet date. These are reviewed at each balance sheet date and adjusted to reflect the current best estimates.

Possible future obligations or present obligations that may but will probably not require outflow of resources or where the same cannot be reliably estimated, is disclosed as contingent liabilities in the notes to accounts of financial statements.

Contingent Assets are neither recognized nor disclosed in the financial statements.

l) Cash Flow Statement

Cash flow statement has been prepared under the ''Indirect Method''. Cash and cash equivalents, in the cash flow statement comprise unencumbered cash and bank balances.

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Mar 31, 2012

A. Basis of preparation of financial statements

The financial statements are prepared in accordance with Generally Accepted Accounting Principles ("GAAP") in India under the historical cost convention' on accrual basis. GAAP comprises mandatory Accounting Standards issued by the Companies (Accounting Standards) Amendment Rules' 2008 and the relevant provisions of the Companies Act' 1956. The accounting policies have been consistently applied by the Company and are consistent with those used in the previous year.

b. Use of Estimates

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. Although these estimates are based upon management's best knowledge of current events and actions' actual results could differ from these estimates. Any revision to the accounting estimates is recognized prospectively.

c. Revenue recognition

1. Income from Operation is recognized upon transfer of significant risks and rewards of ownership to the buyer.

2. Other Income is recognized to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured.

3. Dividend is recognised when the shareholders' right to receive payment is established at the balance sheet date.

d. Fixed Assets

Fixed assets are stated at cost' less accumulated depreciation and impairment losses if any. Cost comprises the purchase price and any attributable cost of bringing the asset to its working condition for its intended use. Borrowing costs relating to acquisition of fixed assets which takes substantial period of time to get ready for its intended use are also included to the extent they relate to the period till such assets are ready to be put to use. Capital work in progress includes expenditure incurred till the assets are put into intended use.

e. Depreciation

Depreciation is provided using the Straight Line Method at the rates and in the manner as prescribed under schedule XIV of the Companies Act' 1956. In case of Software' the same is amortized over a period of five years.

f. Impairment of assets

The carrying amounts of assets are reviewed at each balance sheet dates and if there is any indication of impairment based on internal/external factors. An impairment loss is recognized wherever the carrying amount of an asset exceeds its recoverable amount. The recoverable amount is the greater of the asset's net selling price and value in use. In assessing value in use' the estimated future cash flows are discounted to their present value at the weighted average cost of capital. If at the balance sheet date' there is an indication that a previously assessed impairment loss no longer exists' then such loss is reversed and the asset is restated to extent of the carrying value of the asset that would have been determined (net of amortization / depreciation)' had no impairment loss been recognized.

After impairment' depreciation is provided on the revised carrying amount of the asset over its remaining useful life.

g. Investments

Investments that are readily realizable and intended to be held for not more than one year are classified as current investments. All other investments are classified as long-term investments. Current investments are carried at lower of cost or fair value determined on individual investment basis. Long-term investments are carried at cost. However' provision for diminution in value is made to recognize a decline other than temporary decline in the value of the investments.

h. Employee benefits

Provision for retirement benefits to employees was not provided on accrual basis' which is not in conformity with Accounting Standard-15 issued by ICAI and the amount has not been quantified because actuarial valuation report is not available. However' in the opinion of the management the amount involved is negligible and has no material impact on the Profit & Loss Account.

i. Taxation

Tax expense comprises of current income tax and deferred income tax. Current income tax is measured at the amount expected to be paid to the tax authorities in accordance with the Indian Income Tax Act. Deferred income taxes reflects the impact of current year timing differences between taxable income and accounting income for the year and reversal of timing differences of earlier years. Deferred tax is measured based on the tax rates and the tax laws enacted or substantively enacted at the balance sheet date. Deferred tax assets are recognised only to the extent that there is reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realised. In situations where the company has unabsorbed depreciation or carry forward tax losses' all deferred tax assets are recognised only if there is virtual certainty supported by convincing evidence that they can be realised against future taxable profits. At each balance sheet date' the Company re- assesses unrecognised deferred tax assets. It recognizes unrecognized deferred tax assets to the extent that it has become reasonably certain' as the case may be' that sufficient future taxable income will be available against which such

deferred tax assets can be realized. Minimum Alternative Tax (MAT) credit is recognised as an asset and carried forward only if there is a reasonable certainty of it being set off against regular tax payable within the stipulated statutory period.

j. Foreign Currency Transactions

Transactions in foreign currency are record ed at the rate of exchange in force on the date of the transactions. Current assets and Current liabilities in foreign currency are translated at the exchange rate prevalent at the date of the Balance Sheet.

Any income or expenses on account of exchange difference either on settlement or on translation is reconginsed in the Profit and Loss account except in case of long term liabilities' where they relate to acquisition of fixed assets' in which case they are adjusted to the carrying cost of such assets.

k. Earninas Per Share

Basic earnings per share is calculated by dividing the net profit or loss for the year attributable to equity shareholders (after deducting preference dividends and attributable taxes) by the weighted average number of equity shares outstanding during the year. The weighted average number of equity shares outstanding during the year is adjusted for events of bonus issue' bonus element in a rights issue to existing shareholders' share split and reverse share split (consolidation of shares).

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

I. Provisions' Contingent Liabilities and Contingent Assets

A provision is recognized when an enterprise has a present obligation as a result of past event it is probable that an outflow of resources 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 best estimate required to settle the obligation at the balance sheet date. These are reviewed at each balance sheet date and adjusted to reflect the current best estimates.

Possible future obligations or present obligations that may but will probably not require outflow of resources or where the same cannot be reliably estimated' is disclosed as contingent liabilities in the notes to accounts of financial statements.

Contingent Assets are neither recognized nor disclosed in the financial statements.

m. Cash Flow Statement

Cash flow statement has been prepared under the 'Indirect Method'. Cash and cash equivalents' in the cash flow statement comprise unencumbered cash and bank balances.

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Mar 31, 2011

(a) Basis of Preparation of Financial Statements

The financial statements have been prepared on a going concern basis and on accrual basis, under the historical cost convention and in accordance with the generally accepted accounting principles, the accounting standards issued by the Institute of Chartered Accountants of India and provisions of the Companies Act, 1956, which have been adopted consistently by the Company.

(b) Use of Estimates

The preparation of financial statements requires estimates and assumption to be made that affect the reported amount of assets and liabilities on the date of financial statements and the reported amount of revenues and expenses during the reporting period. Difference between the actual results and estimates are recognized in the period in which the results are known/ materialized,

(c) Revenue recognition

Revenue from sale of goods is recognized when significant risk and rewards of ownership are transferred to the customers. Sales are net of sales return and trade discount.

(d) Fixed Assets

Fixed Assets are stated at their historical costs less depreciation and upon provision of Impairment Losses duly recognized as per the provisions of AS28 issued by the Institute of Chartered Accountants of India. Cost of Acquisition is inclusive of taxes and other incidental expenses up to date, the assets are put to use.

(e) Depreciation

Depreciation on Fixed Assets has been provided on SLM basis for the period of use at the rates prescribed in Schedule XIV to the Companies Act, 1956.

(f) Investments

Long term investments are stated at cost, Provision for diminution in the value of long term investments is made only if such decline is of a permanent nature.

(g) Inventories

Inventories are valued at cost or net realizable value whichever is lower.

(h) Retirement Benefits

Provision for retirement benefits to employees was not provided on accrual basis, which is not in conformity with Accounting Standard-15 issued by ICAI and the amount has not been quantified because actuarial valuation report is not available. However, in the opinion of the management the amount involved is negligible and has no material impact on the Profit & Loss Account.

(I) Foreign Currency Transactions

Foreign currency transactions are recorded at the rates of exchange prevailing on the date of transaction. Exchange differences, if any arising out of transactions settled during the year are recognised in the profit and loss account. Monetary assets and liabilities denominated in foreign currencies as at the balance sheet date are transacted at the closing exchange rate on that date. The exchange differences, if any, are recognised in the profit and loss account and related assets and liabilities are accordingly restated in the Balance Sheet. During the period under review company has not entered into any foreign currency transaction.

0) Taxation

Deferred tax for the year is recognized on timing difference, being the difference between taxable incomes and accounting income that originates in one period and is capable of reversal in one or more subsequent periods.

The deferred tax charge or credit and the corresponding deferred tax liabilities or assets are recognized using the tax rates that have been enacted or substantively enacted by the balance sheet date. Deferred tax assets are recognized only to the extent there is a reasonable certainty that the assets can be realized in future, however when there is unabsorbed depreciation or carry forward loss under taxation laws, deferred tax assets are recognized only if there is a virtual certainty of realization of such assets.

(k) Provision, Contingent Liabilities and Contingent Assets

Provisions involving substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources. Contingent Liabilities are not recognized but are disclosed in the Notes. Contingent Assets are neither recognized nor disclosed in the financial statements.

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Mar 31, 2010

I) Fixed Assets are stated at cost

ii) Depreciation is provided on straight line method at the rates specified in Schedule XIV to the Companies Act, 1956.

iii) Depreciation on Leased Assets is provided on Capital Recovery method

B. INVESTMENTS

Investment is stated at cost.

C. INVENTORIES

i) Work-in-progress is valued at cost

ii) Stock-in-Trade representing Shares & Debentures which are held on long term basis, are vlaued at cost.

D. RECOGNITION OF INCOME AND EXPENDITURE

i) Items of Income & Expenditure are recognised on accrual basis. ii) Sale of flats is accounted on final completion and possession.

E. RETIREMENT BENEFITS

Retirement benefit is provided for on Cash basis. However, there is no liability on date.

F. Provision for deferred taxation is made using the liability method, at the current rates of taxation, on all timing diffrences to the extent that is probable that the assets or liability will crystalise. The same is reviewed at all Balance sheet date.