Javeri Fiscal Services Ltd.

Significant Accounting Policies:

2.1 Basis of Preparation of Consolidated Financial Statements:

The Financial Statements have been brpared in accordance with the generally accepted accounting principles ('GAAP') applicable in India under the historical cost convention on accrual basis except for certain financial instruments which are measured at fair values. These financial statements have been brpared to comply in all material aspects with the accounting standards notified under Section 133 read with Rule 7 of the Companies (Accounting Standard) Rules, 2014, as amended from time to time and the other relevant provisions of the Companies Act, 2013.

All Assets and Liabilities have been classified as current or non-current as per the Company's normal operating cycle and other criteria set out in the Schedule III of the Companies Act, 2013.

2.2 Use of Estimates:

The brparation of Financial Statements in conformity with GAAP requires that the management of the Company makes estimates and assumptions that affect the reported amounts of income and expenses of the period, the reported balances of assets and liabilities and the disclosures relating to contingent liabilities as of the date of the financial statements. Actual results could differ from these estimates. Difference between the actual results and estimates are recognized in the period in which the results are known/materialized. Management believes that the estimates used in brparation of financial statements are prudent and reasonable.

2.3 Tangible Assets :

Fixed Assets are stated at cost less accumulated debrciation and impaired losses, if any. All directly attributable costs including borrowing cost, net of cenvat credit, till the asset is put to use is shown as capital work in progress and is capitalised thereafter. Debrciation on fixed assets is provided on straight-line method by considering revised useful lives as specified in part 'C' of schedule II to the Companies Act, 2013.

2.4 Intangible Assets:

Intangible assets including software are capitalized where it is expected to provide future enduring economic benefits. Intangible assets acquired separately are measured on initial recognition at cost. Following initial recognition, intangible assets are carried at cost less accumulated amortization and accumulated impairment losses, if any. Intangible assets are amortised over the estimated useful life of the asset.

2.5 Borrowing Costs:

Borrowing costs that are attributable to the acquisition or construction of qualifying assets are capitalized as part of the cost of such assets. A qualifying asset is one that takes necessarily substantial period of time to get ready for its intended use. All other borrowing cost are charged to revenue

2.6 Impairment of assets:

An asset is treated as impaired when it is unusable and the carrying cost of the asset exceeds its recoverable value. An impairment loss is charged to the Statement of Profit & Loss in the year in which an asset is identified as impaired.

2.7 Investments:

Investments that are readily realizable and intended to be held for not more than 3 year are classified as "Current Investments'. All other Investments are classified as Long Term Investments.

Current Investments are carried at lower of cost or Market / Fair Value determined on a individual investment basis.

Long Term investments are valued at cost. Provision for diminution in the value of long term investment is made only if such decline is other than temporary in nature,

2.8 Revenue Recognition:

Revenue is recognized only when it can be reliably measured and it is reasonable to expect

Ultimate collection.

The Company brsents revenues net of indirect taxes in its Statement of Profit and Loss.

Profit on sale of investments is recorded on transfer of title from the Company and is determined as the difference between the sale price and carrying value of the investment. Lease rentals are recognized ratably on a straight-line basis over the lease term. Interest is recognized using the time-proportion method, based on rates implicit in the transaction. Dividend income is recognized when the Company's right to receive dividend is established.

2.9 Inventories:

Inventories are valued at lower of cost and estimated net realizable value after providing for cost of obsolescence and other anticipated losses, wherever considered necessary. Cost includes taxes, duties and all incidental expenses directly attributable to the purchases.

2.10 Employee Benefits:

Eligible employees receive benefits from a provident fund, which is a defined benefit plan. Both the employee and the Company make monthly contributions to the provident fund plan equal to a specified percentage of the covered employee's salary. The Provident fund scheme and Employee State Insurance Scheme are defined contribution plans. The company contributes a fixed sum to the Provident Fund / Employees State Insurance Scheme maintained by the Central Government. The contribution paid / payable under the schemes is recognized during the period in which the employee renders the related service.

2.11 Foreign Exchange Transactions:

Foreign-currency denominated monetary assets and liabilities are translated at exchange rates in effect at the Balance Sheet date. Non-monetary assets and non-monetary liabilities denominated in a foreign currency and measured at historical cost are translated at the exchange rate brvalent at the date of transaction

The gains or losses resulting from such translations are included in the Statement of Profit and Loss. Non-monetary assets and non-monetary liabilities denominated in a foreign currency and measured at fair value are translated at the exchange rate brvalent at the date when the fair value was determined. Revenue, expense and cash flow items denominated in foreign currencies are translated using the exchange rate in effect on the date of the transaction. Transaction gains or losses realized upon settlement of foreign currency transactions are included In determining net profit for the period in which the transaction is settled.

2.12 Tax Expense:

Income tax provision based on the brsent tax laws in respect of taxable income for the year and the deferred tax is treated in the accounts based on the Accounting Standard (AS-22) on "Accounting for Taxes on Income". The Deferred tax assets and liabilities for the year, arising out of timing difference, are reflected in the Statement of Profit and Loss. The cumulative effect thereof is shown in the Balance Sheet. The Deferred Tax Assets, if any, are recognised only to the extent that there is reasonable certainty that the assets will be realized in future. However if there are carried forward loss / debrciation then the deferred tax if any, are recognised only to the extent that there is virtual certainty that the assets will be realized in future.

2.13 Contingent Liabilities and Provisions;

Provisions are recognized only when there is a brsent obligation as a result of past events and when a reliable estimate of the amount of obligation can be made.

Contingent Liability is disclosed for

a. Possible obligation which will be confirmed only by future events not wholly within the control of the company or

b. Present obligations arising from the past events where it is not probable that an

outflow of resources will be required to settle the obligation or a reliable estimate of the amount of the obligation cannot be made.

c Contingent Assets are not recognized in the financial statements since this may result in the recognition of income that may never be realized.

2.14 Earnings Per Share:

The Basic earnings per share and diluted earnings per share have been computed in accordance with Accounting Standard (AS-20) on, "Earnings per Share" and is also shown in the Statement of Profit and Loss.

2.15 Leases:

Finance Lease

Leases which effectively transfer to the company all the risks and benefits incidental to ownership of the leased item, are classified as Finance Lease. Lease rentals are capitalized at the lower of the fair value and brsent value of the minimum lease payments at the inception of the lease term and disclosed as teased assets. Lease payments are apportioned between the finance charges and reduction of the lease liability based on the implicit rate of return.

Operating Lease

Lease where the lessor effectively retains substantially all risks and benefits of the asset are classified as Operating lease. Operating lease payments are recognized as an expense in profit & loss account on a Straight Line Basis over the Lease term.

2.16 Segment Reporting:

The generally accepted accounting principles used in the brparation of the financial statements are applied to record revenue and expenditure in individual segments-

Segment revenue and segment results include transfers between business segments. Such transfers are accounted for at the agreed transaction value and such transfers are eliminated in the consolidation of the segments.

Expenses that are directly identifiable to segments are considered for determining the segment result. Expenses, which relate to the company as a whole and are not allocable to segments, are included under unallocated corporate expenses.

Segment assets and liabilities include those directly identifiable with the respective segments-Unallocated corporate assets and liabilities rebrsent the assets and liabilities that relate to the company as a whole and not allocable to any segment.

RISK DISCLOSURES ON DERIVATIVES