SIGNIFICANT ACCOUNTING POLICIES AND NOTES FORMING PART QF THE ACCOUNTS ENDING 31st MARCH, 2015;

NOTES - 1

A. Significant Accounting Policies ;

L Basis of Accounting :

The Company follows the Mercantile System of accounting and recognizes Income and Expenditure on Accrual Basis. The financial statement are brpared under the historical cost convention and are In accordance with the requirements of the Companies Act, 2013 and accepted accounting principles.

Ii Fixed Assets And Debrciation:

Fixed as sets are stated at cost, less accumulated debrciation/amortisation. Costs Include all expenses incurred to bring the assets to its brsent location and condition. Fixed assets exclude computers end other assets individually costing 5000 or less which are not capitalised except when they are part of a larger capital Investment programme. AH Fixed Assets are stated at Historical Cost Less Debrciation.

Debrciation / Amortization In respect of fixed assets (other than freehold land and capital work-in-progress) acquired during the period, debrciation/ amortization is charged on a straight line basis so as to write off the cost of the assets over the useful lives and tor the assets acquired prior to Aprii 1, 2014. the carrying amount as on April 1. 2014 is debrciated over the remaining useful life as per the requirements of Schedule - II of the Companies Act 2013.

Tyue of asset Period

Buildings 60 years

PI an i and machinery 10 years

Computer equipment 3 years

Vehicles 8 years

Office equipment 5 years

Electrical installations 10_years

Furniture and fixtures 5 years

iii Taxes on Income

a. Current lax is the amount of lax payable on the estimated taxable Income for the Current year as per the provisions of Income Tax Act, 1961,

b. Deferred tax assets/liabilities is provided on significant timing differences arising from the different treatments in accounting and taxation of relevant Item. Deterred lax assets/ liabilities shall be reviewed as at each Balance Shea: date, based on development l during the year. To reassess  realization/ liabilities.

c. Deferred Tax Assets in respect of accumulated Loss and unabsorbed Debrciation are recognized and carried forward only if there is virtual certainty of its realization.

Iv  Contingent Liabilities

Contingent Liabilities are not provided for in the Accounts.

Notes to Account

1. The figures have been rounded off at the nearest rupees,

2. AH the Currant Assets, Loans and Advances, in the opinion of the Board, have a value on realization which in the ordinary course of business shall at least be equal to the amount, at which it is stated in the Balance Sheet.

3. The company has lost the case against union of India and had acknowledge debt including interest up to the date of order of Subrme Court in financial year 2013-2014.

Sd /-Naresh  k Chibba Managing director

Sd /-Akshar Bhaskar  Director

AS PER OUR REPORT OF EVEN DATE ATTACHED

For BK Kapur & Co.

Chartered Accountants

Firm Reg.No.: 000852C

(MS Kapur }FCA

Partner

Membership No.: 74615

Date: 30th April, 2015