Accounting Policies of Tulive Developers Ltd. Company

Mar 31, 2025

1 General Information

Tulive Developers is a limited company domiciled in India and was incorporated on 26/12/1962 under the provisions of the Companies Act, 1956 applicable in India. Its registered and principal office of business is located at No. 21/22, Loha Bhavan, P.D. Mello Road,Mumbai - 400 009. The Company is primarily engaged in the business of Real Estate & providing agricultural licenses.

The Board of Directors approved the financial statements for the year ended 31 March 2025 and authorised for issue on May 30, 2025.

2 Material Accounting Policies

Material Accounting Policies adopted by the company are as under:

2.01 Basis of Preparation of Financial Statements

a) Statement of Compliance with Ind AS

These financial statements have been prepared in accordance with Indian Accounting Standards (Ind AS) notified under Section 133 of the Companies Act, 2013 (the ""Act"") read with the Companies (Indian Accounting Standards) Rules, 2015, as amended and other relevant provisions of the Act.

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

(b) Basis of measurement

"The financial statements have been prepared on a historical cost convention on accrual basis, except for the following material items that have been measured at fair value or revalved value as required by relevant Ind AS:-

i) Certain financial assets and liabilities measured at fair value (refer accounting policy on financial instruments)

ii) Share based payment transactions

iii) Embedded derivative

iv) Asset classified as held for sale"

The Company has prepared the financial statements on the basis that it will continue to operate as a going concern, since there is nothing to suggest that the company will not able to meet its financial obligations as and when they become due.

(c) Classification between Current and Non-current

The Company presents assets and liabilities in the balance sheet based on current/ non-current classification. An asset is treated as current when it is:

i. Expected to be realised or intended to be sold or consumed in normal operating cycle

ii. Held primarily for the purpose of trading

iii. Expected to be realised within twelve months after the reporting period, or

iv. Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period

All other assets are classified as non-current.

A liability is current when:

i. It is expected to be settled in normal operating cycle

ii. It is held primarily for the purpose of trading

iii. It is due to be settled within twelve months after the reporting period, or

iv. There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period

The terms of the liability that could, at the option of the counterparty, result in its settlement by the issue of equity instruments do not affect its classification.

The Company classifies all other liabilities as non-current.

Deferred tax assets and liabilities are classified as non-current assets and liabilities.

The operating cycle is the time between the acquisition of assets for processing and their realisation in cash and cash equivalents. The Company has identified twelve months as its operating cycle.

(d) Use of estimates

The preparation of financial statements in conformity with Ind AS requires the Management to make estimate and assumptions that affect the reported amount ofassets and liabilities as at the Balance Sheet date, reported amount of revenue and expenses for the year and disclosures of contingent liabilities as at the Balance Sheet date. The estimates and assumptions used in the accompanying financial statements are based upon the Management''s evaluation of the relevant facts and circumstances as at the date of the financial statements. Actual results could differ from these estimates.

Estimates and underlying assumptions are reviewed on a periodic basis. Revisions to accounting estimates, if any, are recognized in the year in which the estimates are revised and in any future years affected

2.02 Property, plant and equipment

Property, plant and equipment are stated at historical cost less depreciation. Freehold land is carried at historical cost. Historical cost includes expenditure that is directly attributable to the acquisition of the items.

Subsequent costs are included in the asset''s carrying amount or recognized 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 derecognized when replaced. All other repairs and maintenance are charged to Statement of Profit and Loss during the year in which they are incurred.

Advances paid towards the acquisition of property, plant and equipment outstanding at each balance sheet date is classified as capital advances under other non-current assets and the cost of assets not put to use before such date are disclosed under ''Capital work-in-progress’.

Depreciation methods, estimated useful lives

The Company depreciates property, plant and equipment over their estimated useful lives using the straight line method. The estimated useful lives of assets are as follows:

Property, plant and equipment	Useful Life
Plant & Machinery	8
Furniture and Fixtures	10
Office Equipment	5
Computers	3

Depreciation on addition to property plant and equipment is provided on pro-rata basis from the date of acquisition. Depreciation on sale/deduction from property plant and equipment is provided up to the date preceding the date of sale, deduction as the case may be. Gains and losses on disposals are determined by comparing proceeds with carrying amount. These are included in Statement of Profit and Loss under ''Other Income''.

Depreciation methods, useful lives and residual values are reviewed periodically at each financial year end and adjusted prospectively, as appropriate.

2.03 Investment properties

Investment properties are measured initially at cost, including transaction costs. Subsequent to initial recognition, investment properties are stated at cost less accumulated depreciation and accumulated impairment loss, if any.

The cost includes the cost of replacing parts and borrowing costs for long-term construction projects if the recognition criteria are met. When significant parts of the investment propertiesy are required to be replaced at intervals, the Company depreciates them separately based on their specific useful lives. All other repair and maintenance costs are recognized in profit or loss as incurred.

Investment properties are derecognized either when they have been disposed of or when they are permanently withdrawn from use and no future economic benefit is expected from their disposal. The difference between the net disposal proceeds and the carrying amount of the asset is recognized in profit or loss in the period of derecognition. In determining the amount of consideration from the derecognition of investment properties the Company considers the effects of variable consideration, existence of a significant financing component, non-cash consideration, and consideration payable to the buyer (if any).

2.04 Trade and other payables

These amounts represent liabilities for goods and services provided to the company prior to the end of the financial year which are unpaid. The amounts are unsecured. Trade and other payables are presented as current liabilities unless payment is not due within 12 months after the reporting period.

2.05 Foreign Currency Transactions(a) Functional and presentation currency

Items included in the financial statements are measured using the currency of the primary economic environment in which the entity operates (''the functional currency’). The financial statements are presented in Indian rupee (INR), which is the Company’s functional and presentation currency.

(b) Transactions and balances

"On initial recognition, all foreign currency transactions are recorded by applying to the foreign currency amount the exchange rate between the functional

currency and the foreign currency at the date of the transaction. Gains/Losses

arising out of fluctuation in foreign exchange rate between the transaction date and settlement date are recognised in the Statement of Profit and Loss.

Monetary assets and liabilities denominated in foreign currencies are translated at the functionalcurrency spot rates of exchange at the reporting date and

the exchange differences are recognised in the Statement of Profit and Loss.

Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rates at the dates of the initial transactions. Non-monetary items measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value is determined. The gain or loss arising on translation of non-monetary items measured at fair value is treated in line with the recognition of the gain or loss on the change in fair value of the item (i.e., translation differences on items whose fair value gain or loss is recognised in OCI or profit or loss are also recognised in OCI or profit or loss, respectively).

2.06 Fair value measurement

The Company measures financial instruments, such as, derivatives at fair value at each balance sheet date.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on 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 accessible to the Company.

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. The Company''s management determines the policies and procedures for fair value measurement such as derivative instrument.

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

2.07 Other Operating Revenue

(i) Interest Income

For all debt instruments measured either at amortised cost or at fair value through other comprehensive income, interest income is recorded using the effective interest rate (EIR). EIR is the rate that exactly discounts the estimated future cash payments or receipts over the expected life of the financial instrument or a shorter period, where appropriate, to the gross carrying amount of the financial asset or to the amortised cost of a financial liability. When calculating the effective interest rate, the Company estimates the expected cash flows by considering all the contractual terms of the financial instrument (for example, prepayment, extension, call and similar options) but does not consider the expected credit losses. Interest income is included in other income in the Statement of Profit and Loss.

2.08 Taxes

Tax expense for the year, comprising current tax and deferred tax, are included in the determination of the net profit or loss for the year.

(a) Current income tax

Current tax assets and liabilities are measured at the amount expected to be recovered or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted, at the year/period end date. Current tax assets and tax liabilities are offset where the entity has a legally enforceable right to offset and intends either to settle on a net basis, or to realize the asset and settle the liability simultaneously.

(b) Deferred tax

Deferred income tax is provided in full, using the balance sheet approach, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in financial statements. Deferred income tax is also not accounted for if it arises from initial recognition of an asset or liability in a transaction other than a business combination that at the time of the transaction affects neither accounting profit nor taxable profit (tax loss). Deferred income tax is determined using tax rates (and laws) that have been enacted or substantially enacted by the end of the year 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 utilize those temporary differences and losses.

Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities

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. Current tax assets and tax liabilities are offset where the entity has a legally enforceable right to offset and intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Current and deferred tax is recognized in Statement of Profit and Loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, the tax is also recognised in other comprehensive income or directly in equity, respectively.

2.09 Assets classified as held for sale

The Company classifies non-current assets (or disposal group) as held for sale if their carrying amounts will be recovered principally through a sale rather than through continuing use.

The criteria for held for sale classification is regarded met only when the assets (or disposal group) is available for immediate sale in its present condition, subject only to terms that are usual and customary for sales of such assets (or disposal group), its sale is highly probable; and it will genuinely be sold, not abandoned. The Company treats sale of the asset (or disposal group) to be highly probable when:

? The appropriate level of management is committed to a plan to sell the asset (or disposal group),

? An active programmed to locate a buyer and complete the plan has been initiated (if applicable),

? The asset (or disposal group) is being actively marketed for sale at a price that is reasonable in relation to its current fair value,

? The sale is expected to qualify for recognition as a completed sale within one year from the date of classification , and

? Actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn.

Non-current assets (or disposal group) held for sale are measured at the lower of their carrying amount and the fair value less costs to sell. Assets and liabilities (or disposal group) classified as held for sale are presented separately in the balance sheet.

Property, plant and equipment and intangible assets once classified as held for sale are not depreciated or amortized.

A discontinued operation is a component of the Company that has been disposed off or is classified as held for sale and that represents a separate major line of business or

geographical area of operations, is part of a single co-ordinated plan to dispose of such a line of business or area of operations, or is a subsidiary acquired exclusively with a view to resale. The results of discontinued operation are presented separately in the Statement of Profit and Loss for all the periods presented.

2.10 LeasesThe Company as a lessee

A The Company’s lease asset classes primarily consist of leases for_______. 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.

Lease liabilities include the net present value of the following lease payments:

• Fixed payments (including in-substance fixed payments), less any lease incentives receivable

• Variable lease payment that are based on an index or a rate, initially measured using the index or rate as at the commencement date

• Amounts expected to be payable by the group under residual value guarantees

• The exercise price of a purchase option if the group is reasonably certain to exercise that option, and

• Payments of penalties for terminating the lease, if the lease term reflects the group exercising that option"

Right-of-use assets are measured at cost comprising the following:

• The amount of the initial measurement of lease liability

• Any lease payments made at or before the commencement date less any lease incentives received

• Any initial direct costs

• Restoration costs

Right-of-use assets are generally depreciated over the shorter of the asset''s useful life and the lease term on a straight-line basis. If the Company is reasonably certain to exercise a purchase option, the right-of-use asset is depreciated over the underlying asset''s useful life.

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

The Company as a Lessor

Leases for which the Company is a lessor is classified as a finance or operating lease. Whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee, the contract is classified as a finance lease. All other leases are classified as operating leases.

2.11 InventoriesBasis of Valuation

Inventories are valued at lower of cost and net realizable value after providing cost of obsolescence, if any. However, materials and other items held for use in the production of inventories are not written down below cost if the finished products in which they will be incorporated are expected to be sold at or above cost. The comparison of cost and net realizable value is made on an item-by-item basis.

Method of Valuation:

Cost of raw materials has been determined by using moving weighted average cost method and comprises all costs of purchase, duties, taxes (other than those subsequently recoverable from tax authorities) and all other costs incurred in bringing the inventories to their present location and condition.

Cost of finished goods and work-in-progress includes direct labour and an appropriate share of fixed and variable production overheads and excise duty as applicable.

Fixed production overheads are allocated on the basis of normal capacity of production facilities. Cost is determined on moving weighted average basis.

Cost of traded goods has been determined by using moving weighted average cost method and comprises all costs of purchase, duties, taxes (other than those subsequently recoverable from tax authorities) and all other costs incurred in bringing the inventories to their present location and condition.

Net realizable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and estimated costs necessary to make the sale.

Provision of obsolescence on inventories is considered on the basis of management’s estimate based on demand and market of the inventories.

2.12 Impairment of non-financial assets

The Company assesses at each year end whether there is any objective evidence that a non financial asset or a group of non financial assets is impaired. If any such indication exists, the Company estimates the asset''s recoverable amount and the amount of impairment loss.

An impairment loss is calculated as the difference between an asset’s carrying amount and recoverable amount. Losses are recognized in Statement of Profit and Loss and reflected in an allowance account. When the Company considers that there are no realistic prospects of recovery of the asset, the relevant amounts are written off. If the amount of impairment loss subsequently decreases and the decrease can be related objectively to an event occurring after the impairment was recognised, then the previously recognised impairment loss is reversed through Statement of Profit and Loss.

The recoverable amount of an asset or cash-generating unit (as defined below) is the greater of its value in use and its fair value less costs to sell. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. For the purpose of impairment testing, assets are grouped together into the smallest group of assets that generates cash in flows from continuing use that are largely independent of the cash inflows of other assets or groups of assets (the “cash-generating unit”).

2.13 Provisions and contingent liabilities

Provisions are recognized when there is a present obligation as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and there is a reliable estimate of the amount of the obligation. Provisions are measured at the best estimate of the expenditure required to settle the present obligation at the Balance sheet date.

Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of which will be confirmed only by the occurrence or non occurrence of one or more uncertain future events not wholly within the control of the Company or a present obligation that arises from past events where it is either not probable that an outflow of resources will be required to settle or a reliable estimate of the amount cannot be made.

2.14 Cash and cash equivalents

Cash and cash equivalents in the balance sheet comprise balance with banks, cash on hand, cheques/ draft on hand and short-term deposits net of bank overdraft with an original

maturity of three months or less, which are subject to an insignificant risk of changes in value.

For the purposes of the cash flow statement, cash and cash equivalents include balance with banks, cash on hand, cheques/ draft on hand and short-term deposits net of bank overdraft.

2.15 Financial instruments

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.

a. Financial assets

(i) Initial recognition and measurement

At initial recognition, financial asset is measured at its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at fair value through profit or loss are expensed in profit or loss.

(ii) Subsequent measurement

For purposes of subsequent measurement, financial assets are classified in following categories:

a) at amortized cost; or

b) at fair value through other comprehensive income; or

c) at fair value through profit or loss.

The classification depends on the entity''s business model for managing the financial assets and the contractual terms of the cash flows.

Amortized cost: Assets that are held for collection of contractual cash flows where those cash flows represent solely payments of principal and interest are measured at amortized cost. Interest income from these financial assets is included in finance income using the effective interest rate method (EIR).

Fair value through other comprehensive income (FVOCI): Assets that are held for collection of contractual cash flows and for selling the financial assets, where the assets'' cash flows represent solely payments of principal and interest, are measured at fair value through other comprehensive income (FVOCI). Movements in the carrying amount are taken through OCI, except for the recognition of impairment gains or losses, interest revenue and foreign exchange gains and losses which are recognized in Statement of Profit and Loss. When the financial asset is derecognized, the cumulative gain or loss previously recognized in OCI is reclassified from equity to Statement of Profit and Loss and recognized in other gains/ (losses). Interest income from these financial assets is included in other income using the effective interest rate method.

Fair value through profit or loss (FVTPL): Assets that do not meet the criteria for amortized cost or FVOCI are measured at fair value through profit or loss. Interest income from these financial assets is included in other income.

Equity instruments: All equity investments in scope of Ind AS 109 are measured at fair value. Equity instruments which are held for trading and contingent consideration recognised by an acquirer in a business combination to which Ind AS103 applies are classified as at FVTPL. For all other equity instruments, the Company may make an irrevocable election to present in other comprehensive income subsequent changes in the fair value. The Company makes such election on an instrument- by-instrument basis. The classification is made on initial recognition and is irrevocable.

If the Company decides to classify an equity instrument as at FVTOCI, then all fair value changes on the instrument, excluding dividends, are recognized in the OCI. There is no recycling of the amounts from OCI to P&L, even on sale of investment. However, the Company may transfer the cumulative gain or loss within equity.

Equity instruments included within the FVTPL category are measured at fair value with all changes recognized in the profit and loss.

(iii) Impairment of financial assets

In accordance with Ind AS 109, Financial Instruments, the Company applies expected credit loss (ECL) model for measurement and recognition of impairment loss on financial assets that are measured at amortized cost and FVOCI.

For recognition of impairment loss on financial assets and risk exposure, the Company determines that whether there has been a significant increase in the credit risk since initial recognition. If credit risk has not increased significantly, 12-month ECL is used to provide for impairment loss. However, if credit risk has increased significantly, lifetime ECL is used. If in subsequent years, credit quality of the instrument improves such that there is no longer a significant increase in credit risk since initial recognition, then the entity reverts to recognizing impairment loss allowance based on 12 month ECL.

Life time ECLs are the expected credit losses resulting from all possible default events over the expected life of a financial instrument. The 12 month ECL is a portion of the lifetime ECL which results from default events that are possible within 12 months after the year end.

ECL is the difference between all contractual cash flows that are due to the Company in accordance with the contract and all the cash flows that the entity expects to receive (i.e. all shortfalls), discounted at the original EIR. When estimating the cash flows, an entity is required to consider all contractual terms of the financial instrument (including prepayment, extension etc.) over the expected life of the financial instrument. However, in rare cases when the expected life of the financial instrument cannot be estimated reliably, then the entity is required to use the remaining contractual term of the financial instrument.

In general, it is presumed that credit risk has significantly increased since initial recognition if the payment is more than 30 days past due.

ECL impairment loss allowance (or reversal) recognized during the year is recognized as income/expense in the statement of profit and loss. In balance sheet ECL for financial assets measured at amortized cost is presented as an allowance, i.e. as an integral part of the measurement of those assets in the balance sheet. The allowance reduces the net carrying amount. Until the asset meets write off criteria, the Company does not reduce impairment allowance from the gross carrying amount.

(iv) Derecognition of financial assets

A financial asset is derecognized only when

a) The rights to receive cash flows from the financial asset is transferred or

b) 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 financial asset is transferred then in that case financial asset is derecognized only if substantially all risks and rewards of ownership of the financial asset is transferred. Where the entity has not transferred substantially all risks and rewards of ownership of the financial asset, the financial asset is not derecognized.

b) Financial liabilities

(i) Initial recognition and measurement

Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss and at amortized cost, as appropriate.

All financial liabilities are recognized initially at fair value and, in the case of borrowings and payables, net of directly attributable transaction costs.

(ii) Subsequent measurement

The measurement of financial liabilities depends on their classification, as described below: Financial liabilities at fair value through profit or loss

Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities designated upon initial recognition as at fair value through profit or loss. Separated embedded derivatives are also classified as held for trading unless they are designated as effective hedging instruments. Gains or losses on liabilities held for trading are recognized in the Statement of Profit and Loss.

Borrowings

After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortized cost using the EIR method. Gains and losses are recognized in Statement of

Profit and Loss when the liabilities are derecognized as well as through the EIR amortization process. Amortized 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 amortization is included as finance costs in the Statement of Profit and Loss.

Borrowing Cost: Borrowing costs directly attributable to the acquisition, construction or production of an asset that necessarily takes a substantial period of time to get ready for its intended use or sale are capitalised as part of the cost of the asset. All other borrowing costs are expensed in the period in which they occur. Borrowing costs consist of interest and other costs that an entity incurs in connection with the borrowing of funds. Borrowing cost also includes exchange differences to the extent regarded as an adjustment to the borrowing costs.

(iii) Derecognition

A financial liability is derecognized when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognized in the Statement of Profit and Loss as finance costs.

2.16 Employee Benefits(a) Short-term obligations

Liabilities for wages and salaries, including non-monetary benefits that are expected to be settled wholly within 12 months after the end of the year in which the employees render the related service are recognized in respect of employees’ services up to the end of the year and are measured at the amounts expected to be paid when the liabilities are settled. The liabilities are presented as current employee benefit obligations in the balance sheet.

(b) Other long-term employee benefit obligations(i) Defined contribution plan

Provident Fund: Contribution towards provident fund is made to the regulatory authorities, where the Company has no further obligations. Such benefits are classified as Defined Contribution Schemes as the Company does not carry any further obligations, apart from the contributions made on a monthly basis which are charged to the Statement of Profit and Loss.

Employee''s State Insurance Scheme: Contribution towards employees'' state insurance

scheme is made to the regulatory authorities, where the Company has no further obligations. Such benefits are classified as Defined Contribution Schemes as the Company does not carry any further obligations, apart from the contributions made on a monthly basis which are charged to the Statement of Profit and Loss.

2.17 Contributed equity

Equity shares are classified as equity share capital.

Incremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction, net of tax, from the proceeds.

2.18 Provision for Dividend

Provision is made for the amount of any dividend declared, being appropriately authorised and no longer at the discretion of the entity, on or before the end of the reporting period but not distributed at the end of the reporting period. A corresponding amount is recognised directly in equity.

2.19 Earnings Per Share

Basic earnings per share is calculated by dividing the net profit or loss for the year attributable to equity shareholders by the weighted average number of equity shares outstanding during the year. Earnings considered in ascertaining the Company''s earnings per share is the net profit or loss for the year after deducting preference dividends and any attributable tax thereto for the year. The weighted average number of equity shares outstanding during the year and for all the years presented is adjusted for events, such as bonus shares, other than the conversion of potential equity shares, that have changed the number of equity shares outstanding, without a corresponding change in resources.

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 is adjusted for the effects of all dilutive potential equity shares.

2.20 Segment Reporting

The accounting policies adopted for segment reporting are in conformity with the accounting policies adopted for the Company. The Company’s operating businesses are organized and managed separately according to the nature of products and services provided, with each segment representing a strategic business unit that offers different products and serves different markets. Further, inter-segment revenue have been accounted for based on the transaction price agreed to between segments which is primarily market based.

Unallocated items include general corporate income and expense items, which are not allocated to any business segment.

2.21 Rounding off amounts

All amounts disclosed in financial statements and notes have been rounded off to the nearest Lakhs as per requirement of Schedule III of the Act, unless otherwise stated.

3 Significant accounting judgments, estimates and assumptions

The preparation of financial statements requires management to make judgments, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the accompanying disclosures, and the disclosure of contingent liabilities. Uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities affected in future years.

3.1 Estimates and assumptions

The key assumptions concerning the future and other key sources of estimation uncertainty at the year end 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 prepared. 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.

(a) Taxes

Deferred tax assets are recognized for unused tax losses to the extent that it is probable that taxable profit will be available against which the losses can be utilized. Significant management judgment is required to determine the amount of deferred tax assets that can be recognized, based upon the likely timing and the level of future taxable profits together with future tax planning strategies.

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Mar 31, 2023

NOTES ACCOMPANYING FINANCIAL STATEMENTS.

NOTE NO.16 - OTHER ITEMS:

A SIGNIFICANT ACCOUNTING POLICIES:

1. BASIS OF PREPARATION OF FINANCIAL STATEMENTS:

The Financial Statements have been prepared to comply with in all material aspects, the Generally Accepted Accounting Principles ( GAAP) under the historical cost convention, on an accrual basis and in line with the Accounting Standards as prescribed under Section 133 of the Companies Act 2013 read with Rule 7 of the Companies (Accounts) Rules 2014, the provisions of the Companies Act 2013 to the extent notified and guidelines issued by Securities and Exchange Board of India ( SEBI ) .The disclosures and other requirements under MICRO SMALL MEDIUM ENTERPRISES DEVELOPMENT Act 2006 have been duly considered.

2. USE OF ESTIMATES:

The preparation of Financial Statements requires the Management to make estimates of Assets and Liabilities and disclosures relating to contingent liabilities as at the date of the Financial Statements and the reported amounts of income and expenses and required provision has been made during the year .

3. REVENUE RECOGNITION:

(i) Income from Long-term Investments viz in Partnership Firms. Share of Profit/Loss is accounted as per the provisional accounts of the Respective firms subject to audit

(ii) Dividend income from Investments in Mutual Funds (Current Investments) are duly accounted for when the right to receive the dividend is established especially in the case of reinvestment of daily dividends.

4. EXPENDITURE:

Expenses are duly accounted for on an accrual basis and provision is made for all losses and accepted liabilities.

5. FIXED PROPERTY PLANT AND EQUIPMENTS:

(a) FIXED ASSETS:

Property plant and equipments etc are stated at carrying cost less accumulated depreciation carried. Cost of fixed assets includes all expenses incurred including agricultural development expenses to bring the assets to its location and for commencement of operational use.

(b) DEPRECIATION:

Depreciation on Property plant and Equipment’s other than free hold and agricultural Lands is charged under Written Down Value Method taking into consideration useful lives of respective assets in accordance with the requirements as per Schedule II (Section 123) of the Companies Act 2013 and in accordance with Notification No GSR 237 (E) dated 31.03.2014

(c) IMPAIRMENT OF ASSETS:

Consideration is given at every Balance Sheet date to determine as to whether there is any impairment of the carrying cost of assets. Impairment Loss is recognized as an when required.

6. INVESTMENTS:

Non -Current Investments are stated at cost, Provision for diminution in Cost/value is made to recognize a permanent decline in value of long term investments and is determined separately in respect of each and every individual investment. Share of Profit / Loss from investments in Partnership firms are accounted as per the statements of Accounts received from respective firms.

7. RETIREMENT BENEFITS TO EMPLOYEES:

Employee benefits in accordance with the relevant Statutory requirements viz., Provident Fund, Gratuity, leave encashment will be provided for and duly accounted as and when the Company becomes liable under the respective enactment.

8. TAX ON INCOME & DEFERED TAX:

Current tax is determined on the basis of taxable income for the financial year and deferred Liability tax is recognized for all timing differences of depreciation charged as per Companies Act and admissible under Income Tax Act.

9. CASH FLOW STATEMENT:

Cash flow is reported using the indirect method whereby NET PROFIT after tax is adjusted for the effective transactions of a noncash nature and any deferrals or accruals of present or future operating cash, receipts, or payments. The cash flow from regular revenue generating, investment and financing activities of the Company are segregated.

10. EARINGS PER SHARE:

In determining earnings per share, the Company considers the Net Profit after Tax and includes the post tax effect on extra ordinary items if any. The number of shares used in computing basic and diluted equity shares is the weighted average number of shares outstanding during the year/period and proportionate profit.

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Mar 31, 2018

A SIGNIFICANT ACCOUNTING POUCIES:

1. BASIS OF PREPARATION OF FINANCIAL STATEM ENTS:

The Financial Statements have been prepared to comply with in all material aspects, the Generally Accepted Accounting Principles ( GAAP) under the historical cost convention, on an accrual basis and in line with the Accounting Standards as prescribed under Section 133 of the Companies Act 2013 read with Rule 7 of the Companies (Accounts) Rules 2014, the provisions of the Companies Act 2013 to the extent notified and guidelines issued by Securities and Exchange Board of India ( SEBI ) .The disclosures and other requirements under MICRO SMALLMEDIUM ENTERPRISES DEV ELO PM ENT Act 2006 have been duly considered.

2. USE OF ESTIMATES:

The preparation of Financial Statements requires the Management to make estimates of Assets and Liabilities and disclosures relating to contingent liabilities as at the date of the Financial Statements and the reported amounts of income and expenses and required provision has been made during the year .

3. REVENUE RECOGNITION :

(i) Licence Fee for agricultural lands is accounted on accrual basis .

(ii) Income from Long term Investments viz in Partnership Firms .Share of Profit/Loss is accounted as per the provisional accounts of the Respective firms subject to audit.

(iii) Dividend income from Investments in Mutual Funds (Current Investments) are duly accounted for when the right to receive the dividend is established especially in the case of reinvestment of daily dividends .

4. EXPENDITURE:

Expenses are duly accounted for on accrual basis and provision is made for all losses and accepted liabilities

5. FIXED PROPERTY PLANT AND EQUIPM ENTS :

(a) FIXED ASSETS:

Property, plant and equipments etc are stated at carrying cost less accumulated depreciation carried. Cost of fixed assets includes all expenses incurred including agricultural development expenses to bring the assets to its location and for commencement of operational use.

(b) DEPRECIATION:

Depreciation on Property plant and Equipments other than free hold and agricultural Lands is charged under Written Down Value Method taking into consideration useful lives of respective assets in accordance with the requirements as per Schedule II (Section 123) of the Companies Act 2013 and in accordance with Notification No GSR 237 (E) dated 31.03.2014.

(c) IMPAIRMENT OF ASSETS:

Consideration is given at every Balance Sheet date to determine as to whether there is any impairment of the carrying cost of assets. Impairment Loss is recognized as an when required.

6. INVESTMENTS:

Non-Current Investments are stated at cost , Provision for diminution in Cost/value is made to recognise a permanent decline in value of long term investments and is determined separately in respect of each and every individual investment. Share of Profit / Loss from investments in Partnership firms are accounted as per the statements of Accounts received from respective firms.

7. INVENTORIES:

(a) Inventories are valued at lower of cost or net realizable value , cost being ascertained on the following basis:

(i)Stores, spares and materials on weighted average cost basis.

(ii)Work-in-progress - at cost including applicable overhead expenses .

(iii) Traded goods at lower of cost or net realisable value.

(iv)Other / Non-moving inventories are provided for to the extent of requirements and are disclosed at lower of net realizable value/cost.

8. RETIREM ENT BENEFITS TO EM PLOYEES:

Employee benefits in accordance with the relevant Statutory requirements viz., Provident Fund, Gratuity, leave encashment will be provided for and duly accounted as and when the Company becomes liable under the respective Enactment.

9. TAX ON INCOM E & DEFERED TAX :

Current tax is determined on the basis of taxable income for the financial year and deferred Liability tax is recognized for all timing differences of depreciation charged as per Companies Act and admissible under Income Tax Act.

10. CASH FLOW STATEM ENT:

Cash flow is reported using the indirect method whereby NET PROFIT after tax is adjusted for the effective transactions of a non-cash nature and any. deferrals or accruals of present or future operating cash, receipts, or payments. The cash flow from regular revenue generating , investment and financing activities of the Company are segregated.

11. EARINGS PER SHARE:

In determining earnings per share, the Company considers the Net Profit after Tax and includes the post tax effect on extra ordinary items if any The number of shares used in computing basic and diluted equity shares is the weighted average number of shares outstanding during the year/period and proportionate profit .

12. PROVISIONS AND CONTINGENT LIABILITIES :

The Company creates required provision when there is a present obligation as a result of transactions that require outflow of finance and reliable of reasonable estimates are made of the amount/ transactions A disclosure for contingent Liability is made when there is a possible obligation or a present obligation that may but probably will NOT require an outflow of Finance.

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Mar 31, 2016

19. NOTES ACCOMPANYING FINANCIAL STATEMENTS. A SIGNIFICANT ACCOUNTING POLICIES: 1. BASIS OF PREPARATION OF FINANCIAL STATEMENTS :

The Financial Statements have been prepared to comply with in all material aspects, the Generally Accepted Accounting Principles ( GAAP) under the historical cost convention, on an accrual basis and in line with the Accounting Standards as prescribed under Section 133 of the Companies Act 2013 read with Rule 7 of the Companies (Accounts) Rules 2014, the provisions of the Companies Act 2013 to the extent notified and guidelines issued by Securities and Exchange Board of India ( SEBI ) .The disclosures and other requirements under MICRO SMALL MEDIUM ENTERPRISES DEVELOPMENT Act 2006 have been considered.

2. USE OF ESTIMATES:

The preparation of Financial Statements requires the Management to make estimates of Assets and Liabilities and disclosures relating to contingent liabilities as at the date of the Financial Statements and the reported amounts of income and expenses and provisions made during the year .

3. REVENUE RECOGNITION :

(i) Income is recognized in respect completion of Project Management Consultancy Services on monthly basis and are recorded as income excluding Service Tax collected . There are NO Excise duty and sales tax collections in respect consultancy services rendered.

(ii) License fee of agricultural lands is accounted on accrual basis .

(iii) Income from Long term Investments viz in Firms .Share of Profit is accounted as per the Provisional accounts of the firms subject to Audit.

(iv) Dividend income from investments in Mutual Funds (Current Investments) are accounted for when the right to receive the payment is established especially when dividends are reinvested.

4. EXPENDITURE : Expenses are accounted for on accrual basis and provision is made for all loss and accepted liabilities 5. TANGIBLE (FIXED ) ASSETS & DEPRECIATION :

(a) TANGIBLE ASSETS: (Fixed Assets)

Tangible (Fixed)assets are stated at cost less accumulated depreciation. Cost of fixed assets includes all expenses incurred including agricultural development expenses to bring the assets to its location and commencement of operational use.

(b) DEPRECIATION:

Depreciation on Tangible (Fixed) assets other than free hold and agricultural Lands is charged under Written Down Value Method taking into consideration useful lives of respective assets, limiting after taking the residual value @5% of the Cost of Assets.

(c) IMPAIRMENT OF TANGIBLE FIXED ASSETS:

Considerations is given at every Balance Sheet date to determine whether there is any impairment of the carrying cost of the company''s tangible assets Impairment Loss is recognized as an when required

6. INVESTMENTS:

Long term Investments are stated at cost , Provision for diminution in value is made to recognise a decline other than temporary in value of long term investments and is determined separately for each individual investment. Share of Profit / Loss from investments in Partnership firms are accounted as per the statements received from respective firms.

7. INVENTORIES:

(a) Inventories are valued at lower of cost or net realizable value , cost being ascertained on the following basis:

(i) Stores, spares and materials on weighted average cost basis.

(ii) Work -in-progress - cost including applicable overheads.

(iii) traded goods at lower of cost at the reliable value.

(iv) Others / Non moving investments are provided for to the extent of requirements and are shown at Net realizable value.

8. RETIREMENT BENEFITS TO EMPLOYEES :

Employee benefits in accordance with the relevant statutory requirements viz., Provident Fund, Gratuity, leave encashment will be provided for and duly accounted as and when the company becomes liable under the respective enactment.

9. TAX ON INCOME & DEFERED TAX :

Current tax is determined on the basis of taxable income for the financial year and deferred tax is recognized for all timing differences subject to consideration of prudence.

10. CASH FLOW STATEMENT:

Cash flow is reported using the indirect method whereby Net Profit before tax is adjusted for the effects of transactions of a NON CASH nature and any deferrals or accruals of part or future operating cash, receipts, or payments. The cash flow from regular revenue generating , investment and financing activities of the company are segregated.

11. EARINGS PER SHARE:

In determining earnings per share . the company considers the Net Profit after Tax and includes the post tax effect on extra ordinary items..The number of shares used in computing basic and diluted equity shares is the weighted average number of shares outstanding during the year.

12. PROVISIONS AND CONTINGENT LIABILITIES :

The Company creates provision when there is a present obligation as a result of an event that requires an outflow of resources and a reliable and reasonable estimates are made of the amount. A disclosure for contingent Liability is made when there is a possible obligation or a present obligation that may but probably will NOT require an outflow of resources .

(9) a, There are No transactions with any related parties during the year

b, CURRENT ACCOUNT BALANCES (INTEREST FREE) WITH FIRMS :IN WHICH COMPANY IS A PARTNER

10. PROVISION FOR TAXATION:

Provision for Taxation has been made ascertaining taxable income .Since the share income from firms and agricultural income are totally excluded under Section 10 of IT Act 1961 the same have been excluded while determining taxable income . There is NO liability for Deferred tax .

11. Confirmation of Balances as at 31.3.2016 have NOT been received from certain parties/person in response to letters sent seeking confirmation of balances.

12. Figures for the previous years have been regrouped and reclassified wherever required to conform to the classification as per accounts drawn as per Schedule III of the Companies Act 2013.

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Mar 31, 2014

1. The accounts have been prepared to comply with in all material aspects, the generally accepted Accounting principles under historical cost convention on an accrual basis and in line with the applicable Accounting Standards specified in Companies (Accounting Standard) Rules 2006 and the provisions of the Companies Act 1956.The disclosures and other requirements under the MICRO Small Medium Enterprises Development Act have been considered.

2. REVENUE RECOGNITION :

(I) Income is recognised on completion of project management services on monthly basis and are recorded excluding recoveries of Service Tax. There are NO excise duty and sales tax collections in respect of services rendered.

(ii) Licence fee of agricultural lands is accounted on accrual basis.

(iii) Income from Investments viz Share of Profit / Loss from the firms in which the company is a partner is accounted based on the provisional accounts of respective firms subject to Audit.

(iv) Interest on borrowings is accounted on accrual basis.

(v) Expenses are accounted for on accrual basis and provision is made for all losses and claims and undisputed liabilities / Claims.

(vi) USE OF ESTIMATES:

The preparation of financial statements requires the management to make estimates and assumptions that affect the reported balances of assets and liabilities and disclosures relating to contingent liabilities as at the date of the financial Statement and the reported amount of income and expenses during the year.

3. FIXED ASSETS & DEPRECIATION

(a) TANGIBLE ASSETS: (Fixed Assets)

Tangible assets are stated at cost less accumulated depreciation. Cost of fixed assets includes all expenses incurred including agricultural development expenses to bring the assets to its location and commencement of operational use.

(b) DEPRECIATION:

Depreciation on Tangible (Fixed) assets other than free hold and agricultural Lands is charged under Written Down Value Method at the rates specified in Schedule XIV of Companies the Act 1956 and in respect of additions during the year provided on prorata basis from the date of assets being put to use.

4. INVESTMENTS :

Long term investments are stated at cost. Provision for diminution in value is made to recognise a decline other than temporary in value of long term investments and is determined separately for each individual investment. Share of Profit / Loss from investments in partnership firms are accounted as per the statement received from respective firms.

5. INVENTORIES :

Inventories are valued at cost or net realisable value after providing for obsolescence as follows:

(1) Stores, spares and materials on weighted average cost basis.

(2) Project work - in - progress at cost

6. RETIREMENT BENEFITS TO EMPLOYEES

Employee benefits in accordance with the relevant statutory requirements viz., Provident Fund, Gratuity, leave encashment will be provided for and duly accounted as and when the company becomes liable under respective enactment.

7. EARINGS PER SHARE :

The company considers post tax profit including tax adjustment if any relating to earlier years. The number of shares considered in computing basis and diluted equity shares is the weighted average number of shares during the year.

8. INCOME TAX, CURRENT & DEFERRED TAX :

Deferred Tax is recognised for all timing differences with regard to depreciation provided for in financial statement and claims made under Income Tax Act. Current tax is determined based on computation of taxable income as per the provisions of Income Tax Act 1961.

9. CASH FLOW STATEMENT :

Cash flow is reported using the indirect method whereby net profit tax is adjusted for the effects of transactions of a NON CASH nature and my deferrals or accruals of our future operating cash, receipts, and payments. The cash flow from regular revenue activities, investment and financing activities of the company are segregated.

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Mar 31, 2013

A. The accounts have been prepared in accordance with instructions for preparation of Balance Sheet and Profit and Loss Statement as per REVISED SCHEDULE VI of the Companies Act 1956 vide Notification No. SO 447 (E) dated 28.2.2011. The Accounts comply with in all material aspects, the Generally Accepted Accounting Principles under the historical cost convention on accrual basis and in line with the applicable Accounting Standards specified in Companies (Accounting Standard) Rules 2006 and the provisions of the Companies Act 1956.

B. USE OF ESTIMATES:

The preparation of financial statements requires the management to make estimates and assumptions that affect the reported balances of assets and liabilities and disclosures relating to contingent liabilities as at the date of the financial Statement and the reported amount of incomes and expenses during the year.

C. TANGIBLE ASSETS: (Fixed Assets)

Tangible assets are stated at cost less accumulated depreciation. Cost includes all expenses incurred to bringthe assets to its location and commencement of operational use.

D. DEPRECIATION:

Depreciation on Tangible (Fixed) assets (other than free hold Land) is charged underwritten Down Value Method at the rates specified in ScheduleXIV of Companiesthe Act1956

E. INVESTMENTS:

Long term Investments are stated at cost Provision for diminution is made to recognize a decline other than temporary in value of long term investments and is determined separately for each individual investment. Current investments are carried at lower of cost or value computed separately in respect of each category of investment.

F. INVENTORIES:

Inventories are valued at lower of cost or net reliable value after providing for obsolescence as follows:

(1) Stores, spares and Raw materials on weighted average cost basis.

(2) Project work -in-progress at cost

G. RETIREMENT BENEFITS TO EMPLOYEES:

Employee benefits in accordance with relevant statutory requirements Viz Employees provident fund, Gratuity, leave encashment will be provided and duly accounted for as and when the company becomes liable under respective Statute or Act.

H. REVENUE RECOGNITION:

(1) Interest on borrowing is accounted on accrual basis

(2) Share income /Loss in respect of investments in Partnership firms is accounted in accordance with the audited/provisional accounts of the respective firms and as per statement of Accounts rendered by the firms.

(3) Contingent /disputed liabilities will be provided for as and when crystallized and accepted by the company.

I EARINGS PER SHARE:

The company considers post tax profit .The number of shares considered in computing basic and diluted equity shares is the weighted average number of shares during the year.

J. INCOME (Deferred Tax) and CURRENT TAX:

Deferred Tax is recognized for all timing differences with regard to depreciation provided for in accounts and claimed under Income Tax. Current tax is determined based on computation of taxable income under the provisions of Income Tax Act 1961.

K. CASH FLOW STATEMENT:

Cash flow is reported using the indirect method whereby net profit before tax is adjusted for the effects of transactions of a non cash nature and any deferrals or accruals of or future operating cash, receipts, and payments. The cash flow from regular revenue generating, investing and financing activities of the company are segregated.

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Mar 31, 2012

A. The accounts have been prepared in accordance with instructions for preparation of Balance Sheet an Profit and Loss Statement in accordance with REVISED SCHEDULE VI of the Companies Act 1956 as pe Notification No SO 447 (E) dated 28.2.2011. The Accounts comply with in all material aspects, th Generally Accepted Accounting Principles under the historical cost convention on accrual basis andii line with the applicable Accounting Standards specified in Companies (Accounting Standard) Rule 2006 and the provisions of the Companies Act 1956.

B. USE OF ESTIMATES:

The preparation of financial statement requires the management to make estimates and assumptions tha affect the reported balances of assets and liabilities and disclosures relating to contingent liabilities as a the date of the financial Statement and the reported amount of incomes and expenses during the year.

C. TANGIBLE ASSETS; (Fixed Assets)

Tangible assets are stated at cost less accumulated depreciation. Cost includes al! expenses incurred tc bring the assets to its location and commencement of operational use.

D. DEPRECIATION:

Depreciation on Tangible (Fixed) assets (other than free hold Land) is charged under Written Dowr Value Method at the rates specified in Schedule XIV of the Companies Act 1956.

E. INVESTMENTS:

Long term Investments are stated at cost Provision for diminution is made to recognize a decline othei than temporary in value of long term investments and is determined separately for each individual investment. Current investments are carried at lower of cost or value computed separately in respect ol each category of investment.

F. INVENTORIES

Inventories are valued at lower of cost or net reliable value after providing for obsolescence as follows:

(1) Stores, spares and Raw materials on weighted average cost basis.

(2) Project work-in-progress at cost

G. RETIREMENT BENEFITS TO EMPLOYEES

Employee benefits in accordance with relevant statutory requirements Viz Employees provident fund, Gratuity, leave encashment will be provided and duly accounted for as and when the company becomes liable under respective Statute or Act.

H. REVENUE RECOGNITION

(1) Interest on borrowing is accounted on accrual basis

(2) Share income /Loss in respect of investments in Partnership firms is accounted in accordance with the audited/provisional accounts of the respective firm and as per statement of Accounts rendered by the firms.

(III) Contingent/disputed liabilities will be provided for as and when crystallized and accepted by the company.

I EARINGS PER SHARE:

The company considers post tax profit .The number of shares considered in computing basic and diluted equity shares is the weighted average number of shares during the year.

J. INCOME (Deferred Tax) and CURRENTTAX:

Deferred Tax is recognized for all timing differences with regard to depreciation provided for in accounts and claimed under Income Tax. Current tax is determined based on computation of taxable income under the provisions of Income Tax Act 1961.

K. CASH FLOW STATEMENT:

Cash flow is reported using the indirect method whereby net profit before tax is adjusted for the effects of transactions of a non cash nature and any deferrals or accruals of or future operating cash, receipts, and payments. The cash flow from regular revenue generating, investing and financing activities of the company are segregated.

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Mar 31, 2011

1. Basis of preparation of Financial Statements

The Accounts have been prepared to comply with, in all material aspects, the Generally Accepted Accounting Principles (GAAP ) and in compliance with the Accounting Standards specified by the Companies (Accounting Standards) Rules 2006 notified by the Central Government and other provisions of the Companies Act 1956.The Company maintains its accounts on accrual basis following the historical cost convention.

2. USE OF ESTIMATES

The preparation of financial statement requires the management to make estimates and assumptions that affect the reported balances of assets and liabilities and disclosures relating to contingent liabilities as at the date of the financial statement and the reported amount of income and expenses during the year .Examples of such estimates include provisions for taxations useful life of depreciable fixed assets and provisions for impairment of assets.

3. FIXED ASSETS

Fixed Assets are stated at cost less accumulated depreciation. Cost includes all expenses incurred to bring the assets to its present location and commencement of operational use.

4. DEPRECIATION

Depreciation (other than freehold land) is charged under Written Down Value method at the rates specified in schedule XIV to the Companies Act 1956.

5. IMPAIRMENT

At each balance sheet date, the management reviews the carrying amount of assets, to determine whether there is any indication that those assets were impaired. Loss due to impairment is recognized as and when required.

6. INVESTMENTS

Long term investments are continued at cost. Provision for diminution is made to recognize a decline other than temporary in value of long term investments and is determined separately for each individual investment Current investments are carried at lower of cost and fair value computed separately in respect of each category of investment.

7. INVENTORIES

Inventories are valued at the lower of cost and net reliable value after providing for obsolescence as follows

(i) Stores, Spares and Raw Materials on weighted average basis.

(ii) Project work in progress at cost.

8. RETIREMENT BENEFITS TO EMPLOYEES

Employee benefits in accordance with the relevant Statutory requirements viz. Employees provident fund payment of gratuity, leave encashment will be provided and accounted for as and when the company becomes liable under respective Statutes, Acts.

9. RENENUE RECOGNITION

(i) Rental income/interest income is accounted on accrual basis.

(ii) Share income/loss in respect of investments in partnership firms is accounted in accordance with audited accounts of the firm and as per Statement of Accounts rendered by the firms.

(iii) Contingent, disputed liabilities will be provided for, as an when crystallized and accepted by the Company.

In respect of project works on hand income is recognized on completion basis as per Guidance Note of Institute of Chartered Accountants of India.

10. EARNINGS PER SHARE

The company considers post tax profit. The number of share used in computing basic and diluted equity shares is the weighted average number of shares on during the year.

11. TAXES ON INCOME

Current Tax is determined on the basis of taxable income of the year. Deferred Tax is recognized for all timing difference subject to consideration of prudence.

12. CASH FLOW STATEMENT

Cash flow statement is based on indirect method whereby net profit after tax is adjusted for the effects of transactions of non cash nature and accruals of past or future operating receipts and payments. The cash flows from regular revenue generating, investing and financial activities are segregated.

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Mar 31, 2010

1. Basis of preparation :

The financial statements are prepared under historical cost convention and the requirements of the Companies Act, 1956.

2. 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 contingent liabilities as at the date of financial statements and reported amounts of income and expenditure during the year. Examples of such estimates include provision for fringe benefit tax and useful life of depreciable fixed assets and provisions for impairment.

3. Fixed Assets:

Fixed Assets are stated at cost less accumulated depreciation costs include all expenses incurred to bring the assets to its present location and condition.

4. Depreciation :

Depreciation other than free hold land is charged under the written down value method at the rates prescribed in SCHEDULE XIV to the Companies Act, 1956.

5. Impairment:

At each Balance Sheet date, the Management reviews the carrying amounts of its Fixed Assets to determine whether there is any indication that those assets were impaired. Impairment loss is recognised as and when required.

6. Investments:

Long Term Investments are stated at cost less provision for other than temporary diminution in value. Impairment loss will be provided for as and when required.

7. Inventories:

Inventories are valued as follows:

(i) Stores, Spares and Raw Materials on weighted average basis. (ii) Project work in progress at cost.

8. Retirement Benefits:

Employer benefits in accordance with the relevant statutory requirements viz. Employees Provident Fund, Gratuity, Encashment of Leave will be provided for and accounted as and when the company becomes liable under the relevant statutes/Acts.

9. Revenue Recognition:

(i) Rental income/interest income is accounted on accrual basis.

(ii) Share income / loss in respect of investments in partnership firms is accounted in accordance with audited accounts of the firm and as per Statement of Account rendered by the firm.

(iii) Contingent, disputed liabilities will be provided for as an when crystallized and accepted by the Company.

(iv) In respect of project works on hand income is recognized on completion of project and on realization.

10. EARNINGS PER SHARE:

In determining earnings per share the company considers the net profits after tax and includes the post tax effect on extra ordinary items.

11. TAXES ON INCOME:

Current Income tax is determined on the basis of taxable income for the year. Deferred Tax is recognized forall timing difference subject to the consideration of prudence for recognizing deferred tax as an asset.