Accounting Policies of Shri Kalyan Holdings Ltd. Company

Mar 31, 2024

Note 2: SIGNIFICANT ACCOUNTING POLICIES

(a) Basis of preparation

(i) Compliance with Ind AS

The Financial Statements of the Company comply in all material aspects with Indian Accounting Standards (Ind AS) notified under
Section 133 of the Companies Act, 2013 ( "the Act" ) read with Companies (Indian Accounting Standards) Rules, 2015 and other
relevant provisions of the Act.

The financial statements have been prepared using the significant accountng policies and measurement bases summarized as below.
These accounting policies have been applied consistently over all the periods presented in these financial statements, except where
the Company has applied certain accounting policies and exemptions under transition to Ind As.

(ii) Historical cost convention

The financial statements have been prepared on a historical cost basis, except for the following:

- Certain financial assets and liabilities (including derivative instruments) that is measured at fair value.

(iii) Preparation of financial statements

The Company is covered in the definition of Non-Banking Financial Company as defined in Companies (Indian Accounting Standards)
(Amendment) Rules, 2016. As per the format prescribed under Division III of Schedule III to the Companies Act, 2013 on 11 October
2013, the Company presents the Balance Sheet, the Statement of Profit and Loss and the Statement of Changes in Equity in the
order of liquidity. A maturity analysis of recovery or settlement of assets and liabilities within 12 months after the reporting date and
more than 12 months after the reporting date is presented in note 33.

(iv) Use of estimates and judgments

The preparation of financial statements in conformity with Ind AS requires management to make estimates, judgments, and
assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities (including
contingent liabilities) and disclosures as of the date of financial statements and the reported amounts of revenue and expenses for
the reporting period. Actual results could differ from these estimates. Accounting estimates and underlying assumptions are
reviewed on an ongoing basis and could change from period to period. Appropriate changes in estimates are recognized in the
period in which the Company becomes aware of the changes in circumstances surrounding the estimates. Any revisions to
accounting estimates are recognized prospectively in the period in which the estimate is revised and future periods. The estimates
and judgments that have significant impact on carrying amount of assets and liabilities at each balance sheet date are discussed at
note 3.

(b) Revenue recognition

The Company recognises revenue from contracts with customers based on a five step model as set out in Ind AS 115, Revenue from
Contracts with Customers, to determine when to recognize revenue and at what amount. Revenue is measured based on the
consideration specified in the contract with a customer. Revenue from contracts with customers is recognised when services are
provided and it is highly probable that a significant reversal of revenue is not expected to occur.

Revenue is measured at fair value of the consideration received or receivable. Revenue is recognized when (or as) the company
satisfies a performance obligation by transferring a promised good or service (i.e. an asset) to a customer. An asset is transferred
when (or as) the customer obtains control of that asset.

When (or as) a performance obligation is satisfied, the Group recognizes as revenue the amount of the transaction price (excluding
estimates of variable consideration) that is allocated to that performance obligation.

The Company applies the five-step approach for recognition of revenue:

-Identification of contract(s) with customers;

-Identification of the separate performance obligations in the contract;

-Determination of transaction price;

-Allocation of transaction price to the separate performance obligations; and
-Recognition of revenue when (or as) each performance obligation is satisfied.

(i) Interest income

Interest income is recognized on accrual basis.

(ii) Dividend income

Dividend income is recognized in the statement of profit or loss on the date that the Company''s right to receive payment 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 reliably measured. This is generally when the shareholders approve the dividend.

iii) Other income

Revenue in respect of Other Income is recognised when no significant uncertainty as to it''s determination or realisation exists.

(c) Income tax

The income tax expense or credit for the period is the tax payable on the current period''s taxable income based on the applicable
income tax rate for each jurisdiction adjusted by changes in deferred tax assets and liabilities attributable to temporary differences
and to unused tax losses. Current and deferred tax is recognized in profit or loss, except to the extent that it relates to items
recognized in other comprehensive income or directly in equity. In this case, the tax is also recognized in other comprehensive income
or directly in equity, respectively.

Current Tax

Current tax is measured at the amount of tax expected to be payable on the taxable income for the year as determined in accordance
with the provisions of the Income Tax Act, 1961. Current tax assets and current tax liabilities are off set when there is a legally
enforceable right to set off the recognized amounts and there is an intention to settle the asset and the liability on a net basis.

Deferred Tax

Deferred income tax is provided in full, using the liability method, on temporary differences arising between the tax bases of assets
and liabilities and their carrying amounts. Deferred income tax is determined using tax rates (and laws) that have been enacted or
substantially enacted by the end of the reporting period and are expected to apply when the related deferred income tax asset is
realised or the deferred income tax liability is settled.

Deferred tax assets are recognised for all deductible temporary differences and unused tax losses only if it is probable that future
taxable amounts will be available to utilise those temporary differences and losses

Deferred tax liabilities are not recognized for temporary differences between the carrying amount and tax bases of investments in
subsidiaries where the Company is able to control the timing of the reversal of the temporary differences and it is probable that the
differences will not reverse in the foreseeable future.

Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets and liabilities and
when the deferred tax balances relate to the same taxation authority.

(d) Financial instruments

Initial recognition and measurement:

Financial assets and financial liabilities are recognized when the entity becomes a party to the contractual provisions of the
instrument. Regular way purchases and sales of financial assets are recognized on trade-date, the date on which the Company
commits to purchase or sell the asset.

At initial recognition, the Company measures a financial asset or financial liability at its fair value plus or minus, in the case of a
financial asset or financial liability not at fair value through profit or loss, transaction costs that are incremental and directly
attributable to the acquisition or issue of the financial asset or financial liability, such as fees and commissions. Transaction costs of
financial assets and financial liabilities carried at fair value through profit or loss are expensed in profit or loss. Immediately after initial
recognition, an expected credit loss allowance (ECL) is recognized for financial assets measured at amortized cost.

When the fair value of financial assets and liabilities differs from the transaction price on initial recognition, the entity recognizes the
difference as follows:

a) When the fair value is evidenced by a quoted price in an active market for an identical asset or liability (i.e. a Level 1 input) or based
on a valuation technique that uses only data from observable markets, the difference is recognized as a gain or loss.

b) In all other cases, the difference is deferred and the timing of recognition of deferred day one profit or loss is determined
individually. It is either amortized over the life of the instrument, deferred until the instrument''s fair value can be determined using
market observable inputs, or realized through settlement.

When the Company revises the estimates of future cash flows, the carrying amount of the respective financial assets or financial
liability is adjusted to reflect the new estimate discounted using the original effective interest rate. Any changes are recognized in
profit or loss.

Fair Value of Financial Instrument:

Some of the Company''s assets and liabilities are measured at fair value for financial reporting purpose. 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.

Information about the valuation techniques and inputs used in determining the fair value of various assets and liabilities are disclosed
in Note.

A) Financial Assets

(i) Classification and Subsequent Measurement

The Company has applied Ind AS 109 and classifies its financial assets in the following measurement categories:

- Fair Value through Profit & Loss (FVTPL)

- Fair Value through Other Comprehensive Income (FVTOCI)

- Amortised Cost

1. Financial assets carried at amortised cost

A financial asset is measured at the amortised cost if both the following conditions are met:

• The asset is held within a business model whose objective is to hold assets for collecting contractual cash flows, and

• Contractual terms of the asset give rise on specified dates to cash flows that are solely payments of principal
and interest (SPPI) on the principal amount outstanding. After initial measurement, such financial assets are
subsequently measured at amortised cost using the effective interest rate (EIR) method. Amortised cost is

calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR
amortisation is included in interest income in the Statement of Profit and Loss.

2. Financial Assets carried at Fair Value through Other Comprehensive Income (FVTOCI)

A financial asset shall be classified and meaured at fair value through OCI if both of the following conditions are met:

The financial asset is held within a business model whose objective is achieved by both collecting contractual cash flow and selling
financial assets and,

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

3. Financial Assets carried at Fair Value through Profit & Loss

A financial asset shall be classified and measured at fair value through profit or loss unless it is measured at amortised cost or at fair
value through OCI.

4. Equity Instruments

Equity instruments are instruments that meet the definition of equity from the issuer''s perspective; that is, instruments
that do not contain a contractual obligation to pay and that evidence a residual interest in the issuer''s net assets.

All investments in equity instruments classified under financial assets are initially measured at fair value, the Company
may, on initial recognition, irrevocably elect to measure the same either at FVOCI or FVTPL. The Company makes such election on an
instrument-by-instrument basis. Fair value changes on an equity instrument is recognised as revenue from operations in the
Statement of Profit and Loss unless the Company has elected to measure such instrument at FVOCI. Fair value changes excluding
dividends, on an equity instrument measured at FVOCI are recognized in OCI. Amounts recognised in OCI are not subsequently
reclassified to the Statement of Profit and Loss. Dividend income on the investments in equity instruments are recognised as ''Revenue
from operations'' in the Statement of Profit and Loss.

(ii) Derecognition

A financial asset is derecognised only when :

The Company has transferred the rights to receive cash flows from the financial asset or retains the contractual rights to receive the
cash flows of the financial asset, but assumes a contractual obligation to pay the cash flows to one or more recipients.

Where the Company has transferred an asset, the Company evaluates whether it has transferred substantially all risks and rewards of
ownership of the financial asset. In such cases, the financial asset is derecognised. Where the entity has not transferred substantially
all risks and rewards of ownership of the financial asset, the financial asset is not derecognised.

Where the Company has neither transferred a financial asset nor retains substantially all risks and rewards of ownership of the
financial asset, the financial asset is derecognised if the Company has not retained control of the financial asset. Where the Company
retains control of the financial asset, the asset is continued to be recognised to the extent of continuing involvement in the financial
asset.

B) Financial Instruments

(i) Initial recognition and measurement:

Financial liabilities are classified at amortised cost or FVTPL. A financial liability is classified as at FVTPL if it is classified as held for
trading, or it is a derivative or it is designated as such on initial recognition. Financial liabilities at FVTPL are measured at fair value and
net gains and losses, including any interest expense, are recognised in profit or loss. Other financial liabilities are subsequently
measured at amortised cost using the effective interest method. Interest expense and foreign exchange gains and losses are
recognised in profit or loss. Any gain or loss on derecognition is also recognised in Statement of Profit or loss.

(ii) Subsquent measurement

Financial liabilities are subsequently measured at amortised cost using the EIR method. Financial liabilities carried at fair value through
profit or loss is measured at fair value with all changes in fair value recognised in the Statement of Profit and Loss.

(iii) Derecognition

A financial liability is derecognised when the obligation specified in the contract is discharged, cancelled or expires.

(e) Impairment of non financial assets

Intangible assets are tested for impairment whenever events or changes in circumstances indicate that the carrying amount may not
be recoverable. An impairment loss is recognised for the amount by which the asset''s carrying amount exceeds its recoverable
amount. The recoverable amount is the higher of an asset''s fair value less costs of disposal and value in use. For the purposes of
assessing impairment,assets are grouped at the lowest levels for which there are separately identifiable cash inflows which are largely
independent of the cash inflows from other assets or groups of assets (cash- generating units). Non financial assets other than
goodwill that suffered an impairment are reviewed for possible reversal of the impairment at the end of each reporting period.

(f) Offsetting financial instruments

Financial assets and liabilities are offset and the net amount is reported in the balance sheet where there is a legally enforceable right
to offset the recognised amounts and there is an intention to settle on a net basis or realise the asset and settle the liability
simultaneously. The legally enforceable right must not be contingent on future events and must be enforceable in the normal course
of business and in the event of default, insolvency or bankruptcy of the Company or the counter party.

(g) Property, plant and equipment

PPE is recognised when it is probable that future economic benefits associated with the item will flow to the Company and the cost of
the item can be measured reliably. PPE is stated at original cost, net of tax/duty credits availed, if any, less accumulated depreciation
and cumulative impairment.

Cost comprises the purchase price and any attributable costs of bringing the asset to its working condition for its intended use as
estimated by the management. Any trade discounts and rebates are deducted in arriving at the purchase price.

Each part of an item of property, plant and equipment with a cost that is significant in relation to the total cost of the item is
depreciated separately. When significant parts of plant and equipment are required to be replaced at intervals, the Company
depreciates them separately based on their specific useful lives. Likewise, when a major inspection is performed, its cost is recognised
in the carrying amount of the plant and equipment as a replacement, if the recognition criteria are satisfied.

PPE not ready for the intended use, on the date of the Balance Sheet are disclosed as "Capital Work-in-Progress".

Advances paid towards the acquisition of property, plant and equipment outstanding at each balance sheet date is classified as capital
advances under other non financial assets.

Subsequent costs are included in the asset''s carrying amount or recognised as a separate asset, as appropriate, only when it is
probable that future economic benefits associated with the item will flow to the Company and the cost of the item can be measured
reliably. The carrying amount of any component accounted for as a separate asset is derecognised when replaced. All other repairs
and maintenance are charged to profit or loss during the reporting period in which they are incurred.uipment are stated at historical
cost less depreciation. Historical cost includes expenditure that is directly attributable to the acquisition of the items.

An item of property, plant and equipment and any significant part initially recognised is de-recognised upon disposal or when no
future economic benefits are expected from its use or disposal. Any gain or loss arising on de-recognition of the asset (calculated as
the difference between the net disposal proceeds and the carrying amount of the asset) is included in the income statement when the
property, plant and equipment is de-recognised.

Repairs & maintenance costs are recognised in the statement of Profit and loss.

(h) Intangible assets

Intangible assets are stated at original cost net of tax/duty credits availed, if any, less accumulated amortisation and cumulative
impairment. Intangible assets are recognised when it is probable that the future economic benefits that are attributable to the asset
will flow to the enterprise and the cost of the asset can be measured reliably.

The useful lives of intangible assets are assessed as either finite or indefinite.

Intangible assets with finite lives are amortised over the useful life and assessed for impairment whenever there is an indication that
the intangible asset may be impaired. The amortisation period and the amortisation method for an intangible asset with a finite useful
life are reviewed at least at the end of each reporting period. Changes in the expected useful life or the expected pattern of
consumption of future economic benefits embodied in the asset are considered to modify the amortisation period or method, as
appropriate, and are treated as changes in accounting estimates. The amortisation expenses on intangible assets with finite lives is
recognised in the Statement of Profit and Loss unless such expenditure forms part of carrying value of another asset.

Intangible assets with indefinite useful lives are not amortised, but are tested for impairment annually, either individually or at the
cash generating unit level. The assessment of indefinite life is reviewed annually to determine whether the indefinite life continues to
be supportable. If not, the change in useful life from indefinite to finite is made on a prospective basis. Gains or losses arising from de
recognition of an intangible asset are measured as the difference between the net disposal proceeds and the carrying amount of the
asset and are recognised in the Statement of Profit and Loss when the asset is derecognised.

Amortization is provided using the Straight Line Method as per the following useful life as per Schedule II of the Companies Act 2013:

(i) Leases

The Company as a lessee

The Company assesses whether a contract contains a lease, at inception of a contract. 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. To assess whether a
contract conveys the right to control the use of an identified asset, the Company assesses whether: (i) the contract involves the use of
an identified asset (ii) the Company has substantially all of the economic benefits from use of the asset through the period of the lease
and (iii) the Company has the right to direct the use of the asset.

At the date of commencement of the lease, the Company recognizes a right-of-use asset ("ROU") and a corresponding lease liability
for all lease arrangements in which it is a lessee, except for leases with a term of twelve months or less (short-term leases) and low
value leases. For these short-term and low value leases, the Company recognizes the lease payments as an operating expense on a
straight-line basis over the term of the lease.

Right-of-use assets are depreciated from the commencement date on a straight-line basis over the shorter of the lease term and
useful life of the underlying asset. Right of use assets are evaluated for recoverability whenever events or changes in circumstances
indicate that their carrying amounts may not be recoverable. For the purpose of impairment testing, the recoverable amount (i.e. the
higher of the fair value less cost to sell and the value-in-use) is determined on an individual asset basis unless the asset does not
generate cash flows that are largely independent of those from other assets. In such cases, the recoverable amount is determined for
the Cash Generating Unit (CGU) to which the asset belongs.

The lease liability is initially measured at amortized cost at the present value of the future lease payments. The lease payments are
discounted using the interest rate implicit in the lease or, if not readily determinable, using the incremental borrowing rates in the
country of domicile of these leases. Lease liabilities are remeasured with a corresponding adjustment to the related right of use asset
if the Company changes its assessment if whether it will exercise an extension or a termination option.

Lease liability and ROU asset have been separately presented in the Balance Sheet and lease payments have been classified as
financing cash flows.

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Mar 31, 2015

1.1 Basis of Accounting :

These financial statements are prepared in accordance with generally accepted accounting principles applicable in India under the historical cost convention except for certain financial instruments which are measured at fair value. These financial statements comply with the applicable provisions of the Companies Act, 2013 and the accounting standards.

1.2 Use of Estimates :

The preparation of Financial Statements in conformity with the Accounting Standards generally accepted in India ‘requires, the management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities as at the date of the financial statements and reported amounts of revenues and expenses for the year. Actual results could differ from these estimates. Any revision to accounting ‘estimates is recognised prospectively in current and future periods.

1.3 Fixed Assets and Depreciation :

Tangible Assets

A Tangible Assets are stated at acquisition cost, net accumulated depreciation and accumulated impairment losses.

B Subsequent expenditures related to an item of fixed asset are added to its book value only if they increase the future benefits from the existing asset beyond its previously assessed standard performance.

C Items of fixed assets that have been retired from active use and are held for disposal are stated at the lower of their net book value and net realisable value and are shown separately in the financial statements. Any expected loss is recognised immediately in the Statement of Profit and Loss.

D Losses arising from the retirement of and gains and losses arising from disposal of fixed assets which are carried at cost are recognised in the statement of Profit and Loss.

Intangible Assets

A Intangible assets are stated at acquisition cost, net of accumulated amortization and accumulated impairement losses, if any. Intangible assets are amortised on a straight line basis over their estimated useful lives.

B Gains or losses from the retirement of and gains and losses arising from the disposal of fixed assets which are carried at cost are recognised in the Statement of Profit and Loss.

Methods of Depreciation and Amortisation A Depreciation on all the fixed is provided on a Straight Line Method.

B Effective 1st April 2014, the Company depreciates its fixed assets over the useful life in the manner prescribed in Schedule II of the Act, as against the earlier practice of depreciating at the rates prescribed in Schedule XIV of the Companies Act,1956

1.4 Investments :

A All the Investments are classified as Long Term Investments by the management and are valued at cost in terms of "Non Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 1998" and provision is made to recognize any decline in the value of investments.

B Considering the strategic and long term nature of the investment and the asset base of the investee companies, in the opinion of the management the decline in the market value of certain quoted investments and the book value of certain unquoted investment is of temporary nature and requires no provisioning.

1.5 Inventories :

The Company was valuing closing stock of shares at cost or market value whichever is less, where the quotes are available. The closing stocks of shares are valued at cost or last traded price available where the quotes are not available.

1.6 Revenue Recognition :

A Dividend income is recognised when the unconditional right to receive the income is established.

B Interest income is recognised on time proportionate method.

C Revenue in respect of other income is recognised when no significant uncertainty as to its determination or realisation exists.

D All expenses and incomes to the extent considered payable or receivable are accounted for on accrual basis. However, Interest on Calls in Arrears shall be accounted for on Cash Basis.

1.7 Taxes on Income :

A Tax expenses comprise of current and deferred tax.

B Current tax is measured at the amount expected to be paid on the basis of reliefs and deductions available in ‘accordance with the provisions of the Income Tax Act, 1961.

C Deferred tax reflects the impact of current year timing differences between accounting and taxable income and reversal of timing differences of earlier years. Deferred tax is measured based on the tax rates and laws that have been enacted or ‘substantively enacted as of the balance sheet date. Deferred tax assets are recognised only to the extent there is reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realised and are reviewed at each balance sheet date.

1.8 Leases :

Leases are classified as operating leases where the lessor effectively retains substantially all the risks and benefits of the ownership of the leased assets. Operating lease payments are recognised as expenses in the Profit and Loss Account as and when paid.

1.9 Provisions, Contingent Liabilities and Contingent Assets :

Provision is recognised when the company has a present obligation as a result of past events and it is probable that the outflow of resources will be required to settle the obligation and in respect of which reliable estimates can be made. A disclosure for contingent liability is made when there is a possible obligation, that may, but probably will not require an outflow of resources. When there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no provision / disclosure is made. Contingent assets are not recognised in the financial statements. Provisions and contingencies are reviewed at each balance sheet date and adjusted to reflect the correct management estimates.

1.10 Accounting of Equity Index / Stock Futures :

A Initial Margin - Equity Index/Stock Futures Account", representing the intitial margin paid, and "Margin Deposits" representing additional margin paid over and above the initial margin, for entering into a contract for equity index/stock futures which are released on final settlement/squaring-up of the underlying contract, are disclosed under Loans & Advances.

B Equity index/stock futures are marked-to market on a daily basis. Debit or credit balance disclosed under Loans and Advances or Current Liabilities, respectively, in the "Mark-toMarket Margin - Equity Index/Stock Futures Account", represents the net amount paid or received on teh basis of movement in the prices of index/stock futures till the balance sheet date.

C As on the balance sheet date, profit/loss on open positions in equity index/stock futures is accounted for as follows :

* Credit balance in the "Mark-toMarket Margin - Equity Index/Stock Futures Account", being the anticipated profit, is ignored and no credit for the same is taken in the profit and loss account.

* Debit balance in the "Mark-toMarket Margin - Equity Index/Stock Futures Account", being the anticipated loss, is adjusted in the profit & loses account.

D On final settlement or squaring-up of contracts for equity index/stock futures, the profit or loss is calculated as the difference between the settlement/squaring-up price and the contract price. Accordingly, debit or credit balance pertaining to the settled/squared-up contract in "Mark to Market Margin - Equity Index / Stock Futures Account" after adjustment of the provision for anticipate losses is recognised in the profit & loss account.

E When more than one contract in respect of the relevant series of equity index/stock futures contract to which the squared-up contract pertains is outstanding at the time of the squaring-up of the contract, the contract price of the contract so squared-up is determined using the weighted average cost method for calculating the profit/loss on squaring up.

1.11 Accounting of Equity Index / Stock Options :

A "Equity Index/Stock Futures Account", representing the intitial margin paid, and "Margin Deposits" representing additional margin paid over and above the initial margin, for entering into a contract for equity index/stock options, which are released on final settlement/squaring-up of the underlying contract, are disclosed under Loans & Advances.

B "Equity Index/Stock Option Premium Account" represents the premium paid or received for buying or selling the options, respectively.

C As at the balance sheet date, in the case of long positions, provision is made for the amount by which the premium paid for those options exceeds the premium prevailing on the balance sheet date, and in the case of short positions, for the amount by which the premium prevailing on the balance sheet date exceeds th premium received for those options, and is reflected in "Provision for Loss on Equity Index/Stock Option Account".

D When the option contracts are squared-up before the expiry of the options, the premium prevailing on that date is recognised in the profit and loss account. If more than oen option contract in respect of the same index/stock with the same strikeprice and expiry date to which the squared-up contract pertains is outstanding at time of squaring-up of the contract, the weighted average method is followed for determining the profit or loss.

E On the expiry of the contracts and on exercising the options, the difference between the final settlement price and the strike price is transferred to the profit & loss account.

F In both the above cases, the premium paid or received from buying or selling the option, as the case may be, is recognised in the profit and loss account for all squared-up / settled contracts.

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Mar 31, 2014

1.1 Basis of Accounting:

These financial statements are prepared in accordance with generally accepted accounting principles applicable in India under the historical cost convention except for certain financial instruments which are measured at fair value. These financial statements comply with the applicable provisions of the Companies Act, 1956/ 2013 and the accounting standards.

1.2 Use of Estimates:

The preparation of Financial Statements in conformity with the Accounting Standards generally accepted in India ''requires, the management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities as at the date of the financial statements and reported amounts of revenues and expenses for the year. Actual results could differ from these estimates. Any revision to accounting ''estimates is recognised prospectively in current and future periods.

1.3 Fixed Assets and Depreciation :

A Fixed Assets are stated at Cost or less depreciation

B Depreciation is provided on "straight line method" as per Section 205 (2) (b) of the Companies Act, 1956 at the rates prescribed in Schedule XIV thereto.

C Depreciation on additions/disposals of the fixed assets during the year is provided on pro-rata basis according to the ''period during which assets are put to use.

1.4 Investments:

A All the Investments are classified as Long Term Investments by the management and are valued at cost in terms of "Non Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 1998" and provision is made to recognize any decline in the value of investments.

B Considering the strategic and long term nature of the investment and the asset base of the investee companies, in the opinion of the management the decline in the market value of certain quoted investments and the book value of certain unquoted investment is of temporary nature and requires no provisioning.

1.5 Inventories:

The Company was valuing closing stock of shares at cost or market value whichever is less, where the quotes are available. The closing stocks of shares are valued at cost or last traded price available where the quotes are not available.

1.6 Revenue Recognition:

A Dividend income is recognised when the unconditional right to receive the income is established.

B Interest income is recognised on time proportionate method.

C Revenue in respect of other income is recognised when no significant uncertainty as to its determination or realisation exists.

D All expenses and incomes to the extent considered payable or receivable are accounted for on accrual basis. However, Interest on Calls in Arrears shall be accounted for on Cash Basis.

1.7 Taxes on Income:

A Tax expenses comprise of current and deferred tax.

B Current tax is measured at the amount expected to be paid on the basis of reliefs and deductions available in ''accordance with the provisions of the Income Tax Act, 1961.

C Deferred tax reflects the impact of current year timing differences between accounting and taxable income and reversal of timing differences of earlier years. Deferred tax is measured based on the tax rates and laws that have been enacted or ''substantively enacted as of the balance sheet date. Deferred tax assets are recognised only to the extent there is reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realised and are reviewed at each balance sheet date.

1.8 Leases:

Leases are classified as operating leases where the lessor effectively retains substantially all the risks and benefits of the ownership of the leased assets. Operating lease payments are recognised as expenses in the Profit and Loss Account as and when paid.

1.9 Provisions, Contingent Liabilities and Contingent Assets:

Provision is recognised when the company has a present obligation as a result of past events and it is probable that the outflow of resources will be required to settle the obligation and in respect of which reliable estimates can be made. A disclosure for contingent liability is made when there is a possible obligation, that may, but probably will not require an outflow of resources. When there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no provision / disclosure is made. Contingent assets are not recognised in the financial statements. Provisions and contingencies are reviewed at each balance sheet date and adjusted to reflect the correct management estimates.

1.10 Accounting of Equity Index/Stock Futures:

A Initial Margin- Equity Index/Stock Futures Account", representing the initial margin paid, and "Margin Deposits" representing additional margin paid over and above the initial margin, for entering into a contract for equity index/stock futures which are released on final settlement/squaring-up of the underlying contract, are disclosed under Loans & Advances.

B Equity index/stock futures are marked-to market on a daily basis. Debit or credit balance disclosed under Loans and Advances or Current Liabilities, respectively, in the "Mark-to Market Margin - Equity Index/Stock Futures Account", represents the net amount paid or received on the basis of movement in the prices of index/stock futures till the balance sheet date.

C As on the balance sheet date, profit/loss on open positions in equity index/stock futures is accounted for as follows:

* Credit balance in the "Mark-to Market Margin - Equity Index/Stock Futures Account", being the anticipated profit, is ignored and no credit for the same is taken in the profit and loss account.

* Debit balance in the "Mark-to Market Margin - Equity Index/Stock Futures Account", being the anticipated loss, is adjusted in the profit & losses account.

D On final settlement or squaring-up of contracts for equity index/stock futures, the profit or loss is calculated as the difference between the settlement/squaring-up price and the contract price. Accordingly, debit or credit balance pertaining to the settled/squared-up contract in "Mark to Market Margin - Equity Index / Stock Futures Account" after adjustment of the provision for anticipated losses is recognised in the profit & loss account.

E When more than one contract in respect of the relevant series of equity index/stock futures contract to which the squared-up contract pertains is outstanding at the time of the squaring-up of the contract, the contract price of the contract so squared-up is determined using the weighted average cost method for calculating the profit/loss on squaring up.

1.11 Accounting of Equity Index/Stock Options:

A "Equity Index/Stock Futures Account", representing the initial margin paid, and "Margin Deposits" representing additional margin paid over and above the initial margin, for entering into a contract for equity index/stock options, which are released on final settlement/squaring-up of the underlying contract, are disclosed under Loans & Advances.

B "Equity Index/Stock Option Premium Account" represents the premium paid or received for buying or selling the options, respectively.

C As at the balance sheet date, in the case of long positions, provision is made for the amount by which the premium paid for those options exceeds the premium prevailing on the balance sheet date, and in the case of short positions, for the amount by which the premium prevailing on the balance sheet date exceeds the premium received for those options, and is reflected in "Provision for Loss on Equity Index/Stock Option Account".

D When the option contracts are squared-up before the expiry of the options, the premium prevailing on that date is recognised in the profit and loss account. If more than one option contract in respect of the same index/stock with the same strike price and expiry date to which the squared-up contract pertains is outstanding at time of squaring-up of the contract, the weighted average method is followed for determining the profit or loss.

E On the expiry of the contracts and on exercising the options, the difference between the final settlement pries and the strike price is transferred to the profit & loss account.

F In both the above cases, the premium paid or received from buying or selling the option, as the case may be, is recognised in the profit and loss account for all squared-up/settled contracts.

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Mar 31, 2013

1.1 Basis of Accounting :

The financial statements are prepared under the historical cost convention on the "Accrual Concept" of accountancy in accordance with the accounting principles generally accepted in India and they comply with the Accounting Standards prescribed in the Companies [Accounting Standards ] Rules, 2006 issued by the Central Government to the extent applicable and with the applicable provisions of the Companies Act, 1956.

1.2 Presentation and disclosure of financial statements:

For the year ended 31st march 2013, the Revised Schedule VI notified under The Companies Act,1956 has become applicable principles followed for preparation of financial statements. However it has significant impact on presentation and disclosures made in the financial statement. The company has also reclassified, regrouped the previous year figures in accordance with the requirements applicable in the Current Year.

1.3 Use of Estimates :

The preparation of Financial Statements in conformity with the Accounting Standards generally accepted in India requires, the management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities as at the date of the financial statements and reported amounts of revenues and expenses for the year. Actual results could differ from these estimates. Any revision to accounting estimates is recognized prospectively in current and future periods.

1.4 Fixed Assets and Depreciation :

A. Fixed Assets are stated at Cost or less depreciation

B. Depreciation is provided on "straight line method" as per Section 205 (2) (b) of the Companies Act, 1956 at the rates prescribed in Schedule XIV thereto.

C. Depreciation on additions / disposals of the fixed assets during the year is provided on pro-rata basis according to the ''period during which assets are put to use.

1.5 Investments:

A. All the Investments are classified as Long Term Investments by the management and are valued at cost in terms of "Non Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 1998Qand provision is made to recognize any decline in the value of investments.

B. Considering the strategic and long term nature of the investment and the asset base of the investee companies, in the opinion of the management the decline in the market value of certain quoted investments and the book value of certain unquoted investment is of temporary nature and requires no provisioning.

1.6 Inventories:

The Company was valuing closing stock of shares at cost or market value whichever is less, where the quotes are available. The closing stocks of shares are valued at cost or last traded price available where the quotes are not avail able.

1.7 Revenue Recognition :

A. Dividend income is recognized when the unconditional right to receive the income is established.

B. Interest income is recognized on time proportionate method.

C. Revenue in respect of other income is recognized when no significant uncertainty as to its determination or realization exists.

D. All expenses and incomes to the extent considered payable or receivable are accounted for on accrual basis. However, Interest on Calls in Arrears shall be accounted for on Cash Basis.

1.8 Taxes on Income:

A. Tax expenses comprise of current and deferred tax.

B. Current tax is measured at the amount expected to be paid on the basis of reliefs and deductions available in ''accordance with the provisions of the Income Tax Act, 1961.

C. Deferred tax reflects the impact of current year timing differences between accounting and taxable income and reversal of timing differences of earlier years. Deferred tax is measured based on the tax rates and laws that have been enacted or ''substantively enacted as of the balance sheet date. Deferred tax assets are recognized only to the extent there is reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realized and are reviewed at each balance sheet date.

1.9 Leases :

Leases are classified as operating leases where the less or effectively retains substantially all the risks and benefits of the ownership of the leased assets. Operating lease payments are recognized as expenses in the Profit and Loss Account sand when paid.

1.10 Provisions, Contingent Liabilities and Contingent Assets:

Provision is recognized when the company has a present obligation as a result of past events and it is probable that the outflow of resources will be required to settle the obligation and in respect of which reliable estimates can be made. A disclosure for contingent liability is made when there is a possible obligation, that may, but probably will not require an outflow of resources. When there is a possible obligation or present obligation in respect of which the likelihood of outflow of resources is remote, no provision / disclosure is made. Contingent assets are not recognized in the financial statements. Provisions and contingencies are reviewed at each balance sheet date and adjusted to reflect the correct management estimates.

1.11 Accounting of Equity Index/Stock Futures:

A. Initial Margin - Equity Index/Stock Futures Account", representing the initial margin paid, and "Margin Deposits" representing additional margin paid over and above the initial margin, for entering into a contract for equity index/stock futures which are released on final settlement/squaring-up of the underlying contract, are disclosed under Loans & Advances.

B. Equity index/stock futures are marked-to market on a daily basis. Debit or credit balance disclosed under Loans and Advances or Current Liabilities, respectively, in the "Mark-to Market Margin -Equity Index/Stock Futures Account", represents the net amount paid or received on ten basis of movement in the prices of index/stock futures till the balance sheet date.

C. As on the balance sheet date, profit/loss on open positions in equity index/stock futures is accounted for as follows:

* Credit balance in the "Mark-to Market Margin - Equity Index/Stock Futures Account", being the anticipated profit, is ignored and no Credit for the same is taken in the profit and loss account.

* Debit balance in the "Mark-to Market. Margin - Equity Index/Stock Futures Account", being the anticipated loss, is adjusted in the profit & loss account.

D. On final settlement or squaring-up of contracts for equity index/stock futures;, the profit or loss is calculated as the difference between the settlement/squaring-up price and the contract price.

Accordingly, debit or credit balance pertaining to the settled/squared-up contract in "Mark to Market Margin - Equity Index / Stock Futures Account" after adjustment of the provision for anticipated losses is recognized in the profit & loss account.

E. When more than one contract in respect of the relevant series of equity index/stock futures contract to which the squared-up contract pertains is outstanding at the time of the squaring-up of the contract, the contract price of the contract so squared-up is determined using the weighted average cost method for calculating the profit/loss on squaring up.

1.12 Accounting of Equity Index/Stock Options:

A. "Equity Index/Stock Futures Account", representing the initial margin paid, and "Margin Deposits" representing additional margin Paidover and above the initial margin, for entering into contractor equity index/stock options, which are released on final settlement/squaring-up of the underlying contract, are disclosed under Loans & Advances.

B. "Equity Index/Stock Option Premium Account" represents the premium paid for buying or selling the options, respectively.

C. As at the balance sheet date, in the case of long positions, provision is made for the amount by which the premium paid for those options exceeds the premium prevailing on the balance sheet date, and in the case of short positions, for the amount by which the premium prevailing on the balance sheet date exceeds the premium received for those options, arid is reflected in "Provision for Loss on Equity Index/Stock Option Account".

D. When the option contracts are squared-up before the expiry of the options, the premium prevailing on that date is recognized in the profited lo.ss account. If more than oen option contract in respect of the same index/stock with the same strike price and expiry date to which the squared-up contract pertains is outstanding at time of squaring-up of the contract, the weighted average method is followed for determining the profit or loss.

E. On the expiry of the contracts and on exercising the options, the difference between the final settlement price and the strike price is transferred to the profit & loss account.

F. In both the above cases, the premium paid or received from buying or selling the option, as the case may be, is recognized in the profited loss account for all squared-up/settled contracts.

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Mar 31, 2012

1.1 Basis of Accounting :

The financial statements are prepared under the historical cost convention on the "Accrual Concept" of accountancy in accordance with the accounting principles generally accepted in India and they comply with the Accounting Standards prescribed in the Companies ( Accounting Standards) Rules, 2006 issued by the Central Government to the extent applicable and with the applicable provisions of the Companies Act, 1956.

1.2 Presentation and disclosure of financial statements :

For the year ended 31st march 2012, the Revised Schedule VI notified under The Companies Act,1956 has become applicable principles followed for preparation of financial statements. However it has significant impact on presentation and disclosures made in the financial statement. The company has also reclassified, regrouped the previous year figures in accordance with the requirements applicable in the Current Year.

1.3 Use of Estimates :

The preparation of Financial Statements in conformity with the Accounting Standards generally accepted in India 'requires, the management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities as at the date of the financial statements and reported amounts of revenues and expenses for the year. Actual results could differ from these estimates. Any revision to accounting 'estimates is recognised prospectively in current and future periods.

1.4 Fixed Assets and Depreciation :

A. Fixed Assets are stated at Cost or less depreciation

B. Depreciation is provided on "straight line method" as per Section 205 (2) (b) of the Companies Act,1956 at the rates prescribed in Schedule XIV thereto.

C. Depreciation on additions/disposals of the fixed assets during the year is provided on pro-rata basis according to the 'period during which assets are put to use.

1.5 Investments :

A. All the Investments are classified as Long Term Investments by the management and are valued at cost in terms of "Non Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 1998” and provision is made to recognize any decline in the value of investments.

B. Considering the strategic and long term nature of the investment and the asset base of the investee companies, in the opinion of the management the decline in the market value of certain quoted investments and the book value of certain unquoted investment is of temporary nature and requires no provisioning.

1.6 Inventories :

The Company was valuing closing stock of shares at cost or market value whichever is less, where the quotes are available. The closing stocks of shares are valued at cost or last traded price available where the quotes are not available.

1.7 Revenue Recognition :

A. Dividend income is recognised when the unconditional right to receive the income is established.

B. Interest income is recognised on time proportionate method.

C. Revenue in respect of other income is recognised when no significant uncertainty as to its determination or realisation exists.

D. All expenses and incomes to the extent considered payable or receivable are accounted for on accrual basis. However, Interest on Calls in Arrears shall be accounted for on Cash Basis.

1.8 Taxes on Income :

A. Tax expenses comprise of current and deferred tax.

B. Current tax is measured at the amount expected to be paid on the basis of reliefs and deductions available in accordance with the provisions of the Income Tax Act, 1961.

C. Deferred tax reflects the impact of current year timing differences between accounting and taxable income and reversal of timing differences of earlier years. Deferred tax is measured based on the tax rates and laws that have been enacted or 'substantively enacted as of the balance sheet date. Deferred tax assets are recognised only to the extent there is reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realised and are reviewed at each balance sheet date.

1.9 Leases :

Leases are classified as operating leases where the lessor effectively retains substantially all the risks and benefits of the ownership of the leased assets. Operating lease payments are recognised as expenses in the Profit and Loss Account as and when paid.

1.10 Provisions, Contingent Liabilities and Contingent Assets :

Provision is recognised when the company has a present obligation as a result of past events and it is probable that the outflow of resources will be required to settle the obligation and in respect of which reliable estimates can be made. A disclosure for contingent liability is made when there is a possible obligation, that may, but probably will not require an outflow of resources. When there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no provision/disclosure is made. Contingent assets are not recognised in the financial statements. Provisions and contingencies are reviewed at each balance sheet date and adjusted to reflect the correct management estimates.

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Mar 31, 2011

1) Accounting Convention

The Financial statements have been prepared on accrual basis under the historical cost convention.

2) Fixed Assets and Depreciation

i) Fixed Assets are stated at cost less depreciation.

ii) Depreciation on fixed assets has been provided on straight line method on pro rata basis at the rates specified in schedule XIV of the Companies Act, 1956.

3) Investments

All the Investments are classified as Long Term Investments by the management and are valued at cost in terms of "Non Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 1998" and provision is made to recognize any decline in the value of investments.

Considering the strategic and long term nature of the investment and the asset base of the investee companies, in the opinion of the management the decline in the market value of certain quoted investments and the book value of certain unquoted investment is of temporary nature and requires no provisioning.

4) Stock of Shares

The Company was valuing closing stock of shares at cost or market value whichever is less, where the quotes are available. The closing stocks of shares are valued at cost or last traded price available where the quotes are not available.

5) Revenue Recognition

Purchase/Sales are recognized in the accounts on the date of bills and are inclusive of Dividend, Stamps and Penalties on Bad Deliveries. All expenses and incomes to the extent considered payable or receivable are accounted for on accrual basis. However, Interest on Calls in Arrears shall be accounted for on Cash Basis.

6) Taxes on Income

Provision is made for income annually based on tax liability computed, after considering tax allowance and exemptions. Deferred tax is recognized, subject to the consideration of prudence, on timing difference being the difference between taxable income and accounting income that originate in one period and are capable of reversal in one or more subsequent periods.

The effect on deferred tax assets and liability of a change in tax rate in recognized under income using the tax rate and tax laws that have been enacted or substantively enacted by the Balance sheet date.

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Mar 31, 2010

1)Accounting Convention The Financial statements have been prepared on accrual basis under the historical cost convention

2)Fixed Assets and Depreciation i)Fixed Assets are stated at cost less depreciation ii)Depreciation on fixed assets has been provided on straight line method on pro rate basis at the rate specified in schedule XIV do the companies Act 1956

3)Investments All the investments are classified as Long Term Investments by the management and are valued at cost in terms of " Non Banking Financial companies prudential Norms (Reserve Bank) Director 1998 and provision is made to recognize and decline in the value of investment

Considering the strategic and long term nature of the investment and the assets base of the investee companies in the opinion of the management the decline in the market value of certain quotes investments and book value of certain unquoted investment is of temporary nature and requires no parovioning

4)Stock of Shares The company was valuing closing of shares at cost or market value which ever is less where the quotes are available the closing stack of shares are values at cost or last traded price available where the quotes are not available

5) Revenue Recognition Purchase /Sale are recognized in the accounts on the date of bills and are inclusive of Dividend stamps and Penalties on Bad Deliveries .All expenses and incomes to the extent considered payable for receivable are accounted for on accrual basis .However interest on calls in Arrears shall be accounted for on cash Basis

6) Taxes on Income Provision is made for income annually based on tax liability computed after considering tax allowance and exemption Deferred tax is recognized subject to the consideration of prudence on timing deference being the difference between taxable income and according income that originate in one period and are capable of reversal in one or more subsequent periods

The Effect on deferred tax assets liability of a change in tax rate in recognizes under income using the tax rate and tax laws that have enacted or substantively enacted by the Balance sheet date