Note-15. SIGNIFICANT ACCOUNTING POLICIES : 1. GENERAL The Financial Statements have generally been brpared on the historical cost convention. Accounting policies not specifically referred to otherwise are in consonance with generally accepted accounting principals. 2. BASIS OF ACCOUNTING The company follows the mercantile system of accounting generally except otherwise stated herein below, if so. 3. FIXED ASSETS Fixed assets are stated at cost of less accumulated debrciation. No Debrciation has been provided during the year under consideration. 4. INVESTMENTS Investments are stated at cost. 5. INVENTORIES The company is not having any type of inventory. 6. REVENUE AND EXPENDITURE RECOGNITION Revenue is recognized and expenditure is accounted for on their accrual except insurance claim, claims in respect of material purchased and sold which are accounted for on cash basis. 7. DEFER TAX The Deferred tax is recognized for all temporary differences subject to the consideration of prudence and at currently available rates. Deferred Tax assets are recognized only if there is virtual certainty that they will be realized. 8. FOREIGN CURRENY TRANSACTION There is no such transaction during the year. 9. CONTINGENT LIABILITIES There is no any contingent liability. 10. TRADE RECEIVABLE AND PAYABLE Balances of trade payable and receivable are subject to confirmation, reconciliation and consequential adjustments, if any. 11. RELATED PARTY TRANSACTIONS There were no transaction between related concern/parties. 12. Employees Benefit Expenses Particulars Current Year Previous Year Salary Paid Nil Nil 13. Details of Payment to Auditors Particulars Current Year Previous Year As Auditor 5000 5000 14. There is no amount due to Micro & Small Enterprises. 15. Figures of the brvious year have been regrouped/re-cast wherever necessary.

THE COMPANY DOES NOT HAVE ANY DEFINED EMPLOYEE BENEFIT PLAN AT brSENT