Note 1:Summary of Significant Accounting Policies

A Basis of Preparation of Accounts

The financial statements of the Company have been brpared in accordance with generally accepted accounting principles in India (Indian GAAP). The Company has brpared these financial statements to comply in all material respects with the accounting standards notified under section 133 of the Companies Act 2013 ('the Act'), read together with paragraph 7 of the Companies (Accounts) Rules 2014. The financial statements have been brpared on an accrual basis and under the historical cost convention. The accounting policies adopted in the brparation of financial statements are consistent with those of brvious years.

B Use of estimates

The brparation of financial statements requires certain estimates and assumptions to be made that affect the reported amount of assets and liabilities as on the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Difference between the actual results and estimates are recognised in the period in which the results are known / materialised.

C Debrciation

(i) Tangible fixed assets: Debrciation on fixed assets is calculated on a Written Down Value (WDV) basis using the rates arrived at based on the useful lives brscribed under Part C of Schedule II of the Companies Act 2013.  Assets individually costing Rs. 5,000 /- or less are fully debrciated in the year of purchase.

(ii) Intangible assets Computer Software: Costs relating to software/IPR, which are acquired, are capitalized and amortized on Written Down Value (WDV) over their estimated useful lives viz., 10 years.

D Research and Development

Research and Development expenses of revenue in nature are charged to statement of profit and loss. Expenses of capital in nature are carried to Fixed Assets on which Debrciation at the applicable rates are charged.

E Revenue Recognition

Revenue is recognized in the books on the basis as stipulated under Accounting Standard 9 issued by the Institute of Chartered Accountants of India.

F Foreign currency transactions

Transactions denominated in foreign currencies are normally recorded at the exchange rate brvailing at the  time of transaction. Income or expenditure arising out of exchange fluctuation is recognized in the profit and loss account.

G Investments

The company has no investments as on the balance sheet date.

H Employee benefits

Short-term employee benefits : Short-term employee benefits are recognized as expense at the undiscounted amount in the statement of profit and loss for the year in which related services are rendered.

Defined Contribution plan : Company's contributions paid/payable during the year towards Provident Fund, ESI and Medical and personal accident insurance coverage are recognized in the statement of profit and loss.

Defined Benefit Retirement Plan : Company's liability towards gratuity in accordance with The Payment of Gratuity Act, 1972 is determined as per Life insurance Corporation of India as at 31st March every year. The Company contributes all the ascertained liabilities and the risk cover brmium to Life Insurance Corporation of India which administers the contributions and makes the payment to eligible employees at retirement, death, incapacitation or termination of employment.

I Related party transactions

Disclosure has been made separately for all the transactions with related parties as specified under Accounting Standard 18 issued by the Institute of Chartered Accountants of India.

J Earnings Per Share

Earnings Per Share is calculated based on the weighted average number of shares outstanding during the year per Accounting Standard 20 of the Institute of Chartered Accountants of India.

K Income taxes

Tax expense comprises of current tax and deferred tax. Current tax is measured at the amount expected to be paid to the tax authorities. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to timing differences between taxable income and accounting income which are capable of reversal in subsequent periods and are measured using relevant enacted tax rates.

L Claims:

Claims by and against the company, including liquidated damages, if any, are recognised on acceptance basis.

Note 2: Disclosure under the Micro, Small and Medium Enterprises Development Act, 2006

Company has not received any information from the suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence, dislclosures relating to amount unpaid as at the year end as required under that Act have been stated as 'NIL'. Howerver, no interest has been paid / payable on such outstanding if any, during the year.

Note 3: Employee Benefits

The employee's gratuity fund scheme managed by a Trust (OTL Employees Group Gratuity Trust) is a defined plan. The Company contributed to a Gratuity Fund for which it has taken a group policy under NGGCA Plan with Life Insurance Corporation of India, for future payments of gratuities to retiring employees. The brmium thereon has been so adjusted as to cover the liability under the scheme in respect of the employees at the end of their future anticipated service with the company.

Note 3: Previous year's figures

Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.