Mehta Securities Ltd. కంపెనీ అకౌంటింగ్ విధానాలు

Mar 31, 2025

1. Corporate information:

The company is incorporated under the Indian Companies Act, 1956/2013, having its registered office situated at 002,
Law Garden Apartment, Scheme-I, Opp. Law Garden, Ellisbridge, Ahmedabad-380006. The company is a member of the
Cash & FO segment of the NSE and is investing its surplus funds for long term gains. The company invests in equity
market and other markets to optimize return on funds. The Company''s equity share is listed on the Bombay Stock
Exchange.

The financial statements are approved for issue by the Company''s Board of Directors on 30^th May, 2025.

2. Statement of compliance:

The standalone financial statements have been prepared in accordance with INDAS notified under the Companies
(Indian Accounting Standards) Rules, 2015.

Up to the year ended March 31, 2017, the Company prepared its standalone financial statements in accordance with
accounting standards notified under section 133 of the Companies Act 2013, read together with rules there under
(''Indian GAAP'' or ''previous GAAP''). These are the Company''s eighth IND AS financial statements. The date of transition
to IND AS is April 1, 2016. These standalone financial statements comprising of Balance Sheet, Statement of Profit and
Loss, Statement of Changes in Equity and Statement of Cash Flows as at March 31, 2025 have been prepared in
accordance with Indian Accounting Standards (''INDAS'') as prescribed under Section 133 of the Companies Act, 2013
read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and Companies (Indian Accounting
Standards) Amendment Rules, 2016.

Accounting Policies have been consistently applied except where a newly issued IND AS is initially adopted or a revision
to an existing standard requires changes in the accounting policy there to in use.

The Company presents the Balance Sheet, the Statement of Profit and Loss and the statement of changes in Equity in
the order of liquidity as per the format prescribed under Division III of Schedule III to the Companies Act 2013.

3. Basis of preparation and presentation of standalone financial statements:

The standalone financial statements have been prepared on the historical cost basis except for certain financial
instruments that are measured at fair values at the end of each reporting period, as explained in the accounting policies
below:

Historical cost is generally based on the fair value of the consideration given in exchange for goods and services.

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, regardless of whether that price is directly observable or
estimated using another valuation technique. In estimating the fair value of an asset or a liability, the Company takes
into account the characteristics of the asset or liability if market participants would take those characteristics into
account when pricing the asset or liability at the measurement date. Fair value for measurement and/or disclosure
purposes in these standalone financial statements is determined on such basis.

In addition, for financial reporting purposes, fair value measurements are categorized into Level 1, 2, or 3 based on the
degree to which the inputs to the fair value measurements are observable and the significance of the inputs to the fair
value measurement in its entirety, which are described as follows:

• Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can
access at the measurement date;

• Level 2 inputs are inputs, other than quoted prices included within Level 1, that are observable for the asset or
liability, either directly or indirectly; and

• Level 3 inputs are unobservable inputs for the asset or liability.

4. The principal accounting policies are set out below:

A. Use of estimates:

The preparation of these standalone financial statements in conformity with the recognition and measurement
principles of IND AS requires the management of the Company to make estimates and assumptions that affect the
reported balances of assets and liabilities, disclosures relating to contingent liabilities as at the date of the
standalone financial statements and the reported amounts of income and expense for the periods presented. The
estimates and assumptions used in the accompanying standalone financial statements are based upon
management''s evaluation of relevant facts and circumstances as at the date of the financial statements. Actual
results could differ from estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are
recognized in the period in which the estimates are revised and future periods are affected.

Key source of estimation of uncertainty at the date of the financial statements, which may cause a material
adjustment to the carrying amounts of assets and liabilities within the next financial year, is in respect of useful lives
of property, plant and equipment and provisions and contingent liabilities.

Critical accounting judgments and key sources of estimation uncertainty

1) Impairment of Non-financial assets

Impairment exists when the carrying value of assets exceeds its recoverable amount, which is higher of its fair
value less cost of disposal and its value in use. The value in use is determined based upon discounted cash
flow model which is derived from the budget determined by the Company. The recoverable amount is
sensitive to the discount rate used for the discounted cash flow model as well as the expected future cash
inflows and the growth rate used.

2) Provisions and contingent liabilities

A provision is recognized when the Company has a present obligation as a result of past event and it is
probable than an outflow of resources will be required to settle the obligation, in respect of which the
reliable estimate can be made. Provisions (excluding retirement benefits and compensated absences) are not
discounted to its present value and are determined based on best estimate required to settle the obligation
at the balance sheet date. These are reviewed at each balance sheet date adjusted to reflect the current best
estimates. Contingent liabilities are not recognized in the financial statements. A contingent asset is neither
recognized nor disclosed in the financial statements.

3) Other estimates:

The preparation of standalone financial statements involves estimates, classification and assumptions that
affect the reported amount of assets, liabilities, disclosure of contingent liabilities at the date of standalone
financial statements and the reported amount of revenues and expenses for the reporting period.
Specifically, the Company estimates the probability of collection of accounts receivable by analyzing historical
payment patterns, customer concentrations, customer credit- worthiness and current economic trends. If the
financial condition of a customer deteriorates, additional allowances may be required.

B. Revenue recognition:

Revenue from contracts with customers

The Company determines revenue recognition through the following steps:

(a) Identification of the contract, or contracts, with a customer.

(b) Identification of the performance obligations in the contract

(c) Determination of the transaction price.

(d) Allocation of the transaction price to the performance obligations in the contract.

(e) Recognition of revenue when, or as, we satisfy a performance obligation.

Nature of Services

Shares and Securities Broking

The company derives main revenue from broking in shares and securities. The broking license of the company was
disabled effective from financial year 2019-20 due to some legal issues as raised by national stock exchange. Since
then, broking business is on hold. The broking license of the company remained disabled during the year and
therefore there were no transactions of revenue from operations.

Interest Income

Interest income from a financial asset is recognized when it is probable that the economic benefits will flow to the
Company and the amount of income can be measured reliably. Interest income is accrued on a time basis, by
reference to the principal outstanding and at the effective interest rate applicable, which is the rate that exactly
discounts estimated future cash receipts through the expected life of the financial asset to that asset''s net carrying
amount on initial recognition.

Dividend income is accounted for when the right to receive it is established.

C. Tangible Fixed Assets:

Land and buildings held for use of business purposes, are stated in the balance sheet at cost less accumulated
depreciation and accumulated impairment losses. Freehold land is not depreciated.

There are no properties in the course of construction for business of the company.

Fixtures and equipment''s are stated at cost less accumulated depreciation and accumulated impairment losses.
Depreciation is recognized so as to write off the cost of assets less their residual values over their useful lives, using
the Written down Value Method (WDV). The estimated useful lives, residual values and depreciation method are
reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a
prospective basis.

An item of property, plant and equipment is derecognized upon disposal or when no future economic benefits are
expected to arise from the continued use of the asset. Any gain or loss arising on the disposal or retirement of an
item of property, plant and equipment is determined as the difference between the sales proceeds and the carrying
amount of the asset and is recognized in profit or loss.

D. Intangible Fixed Assets:

Measurement at recognition

Intangible assets are recognized where it is probable that the future economic benefit attributable to the assets will
flow to the Company and its cost can be reliably measured. Intangible assets are stated at cost of acquisition less
accumulated amortization and impairment, if any.

The Company amortizes intangible assets on a straight-line basis over the ten years commencing from the date on
which the asset is available to use. Cost of an intangible asset includes purchase price, non-refundable taxes and
duties and any other directly attributable expenditure on making the asset ready for its intended use and net of any
trade discounts and rebates.

E. Depreciation on tangible fixed assets:

Depreciation is calculated using the Written down method to allocate their cost, net of their residual values, over
their estimated useful life prescribed under Schedule II to the Companies Act, 2013. Useful life of Property Plant
and Equipment are reviewed at each balance sheet date and adjusted prospectively, if appropriate. The Company
provides pro-rata depreciation from the date on which the asset is available to use, till date the assets are sold or
disposed.

F. Impairment of tangible assets:

At the end of each reporting period, the Company reviews the carrying amounts of its tangible assets to determine
whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the
recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
When it is not possible to estimate the recoverable amount of an individual asset, the company estimates the
recoverable amount of the cash-generating unit to which the asset belongs. When a reasonable and consistent
basis of allocation can be identified, corporate assets are also allocated to individual cash-generating units, or
otherwise they are allocated to the smallest Company of cash-generating units for which a reasonable and
consistent allocation basis can be identified.

Recoverable amount is the higher of fair value less costs of disposal and value in use. 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 which the estimates of future
cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the
carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is
recognized immediately in profit or loss.

G. Non-current assets held for sale

The company do not have non-current assets held for sale.

H. Borrowing Costs:

The company do not have any interest bearing borrowings and hence do not have borrowing cost during the year.

I. Inventories:

The company do not have inventory therefore disclosure as to its valuation and method of valuation does not arise.
Financial instruments:

Financial assets and financial liabilities are recognised when a Company entity becomes a party to the contractual
provisions of the instruments.

Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly
attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and
financial liabilities at fair value through profit or loss) are added to or deducted from the fair value of the financial
assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the
acquisition of financial assets or financial liabilities at fair value through profit or loss are recognised immediately in
profit or loss.

Financial assets

The company classifies its financial assets as per IndAS 109 those to be measured subsequently at fair value (either
through other comprehensive income, or through profit or loss), and those to be measured at amortised cost. The
company has made an irrevocable election not to present the other comprehensive income and subsequent
changes in the fair value of equity instruments not held for trading.

Financial assets at fair value through profit or loss: -

Financial assets are measured at fair value through profit or loss unless it is measured at amortised cost or at fair
value through other comprehensive income on initial recognition. The transaction costs directly attributable of
financial assets and liabilities at fair value through profit or loss are immediately recognised profit or loss.

Financial assets subsequently measured at amortized cost if these financial assets are held within a business whose
objective is to hold these assets to collect contractual cash flows and contractual terms of the financial assets give
rise on specified dates to cash flows that are solely payment of principal and interest on the principal amount
outstanding.

As per the policy, when the financial assets are sold, the gain / loss arises out of the transactions are recognized as
other income as "Long Term / Short Term Gain / Loss".

Impairment of financial assets: -

The Company assesses at each of Balance Sheet date whether a financial assets or a group of financial assets is
impaired. Ind AS 109 requires expected credit losses to be measured through loss allowance. The Company
recognizes lifetime expected credit losses for all contracts and/or all trade receivables that does not constitute
financing transaction. For all other financial assets, expected credit losses are measured at an amount equal to the
12 month expected credit losses or at an amount equal to the life time expected credit losses if the credit risk on
the financial asset has increased significantly since initial recognition.

Out of the total quoted investments, Rs. 0.00 (Previous Year Rs. 10.41) lakhs have been impaired during the year
upon closure of investee entities and the same have been written off during the year through profit & loss account.

Derecognition of financial assets: -

The Company de recognizes a financial asset when the contractual rights to the cash flows from the asset expire, or
when it transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another
party. If the Company neither transfers nor retains substantially all the risks and rewards of ownership and
continues to control the transferred asset, the Company recognizes its retained interest in the asset and an
associated liability for amounts it may have to pay. If the Company retains substantially all the risks and rewards of
ownership of a transferred financial asset, the Company continues to recognize the financial asset and also
recognizes collateral is borrowing for the proceeds received.

On derecognition of a financial asset in its entirety, the difference between the asset''s carrying amount and the sum
of the consideration received and receivable and the cumulative gain or loss that had been recognized in other
comprehensive income and accumulated in equity is recognized in profit or loss if such gain or loss would have
otherwise been recognized in profit or loss on disposal of that financial asset.

On derecognition of a financial asset other than in its entirety (e.g. when the Company retains an option to
repurchase part of a transferred asset), the Company allocates the previous carrying amount of the financial asset
between the part it continues to recognise under continuing involvement, and the part it no longer recognizes on
the basis of the relative fair values of those parts on the date of the transfer. The difference between the carrying
amount allocated to the part that is no longer recognised and the sum of the consideration received for the part no
longer recognised and any cumulative gain or loss allocated to it that had been recognised in other comprehensive
income is recognised in profit or loss if such gain or loss would have otherwise been recognised in profit or loss on
disposal of that financial asset. A cumulative gain or loss that had been recognised in other comprehensive income
is allocated between the part that continues to be recognized and the part that is no longer recognized on the basis
of the relative fair values of those parts.

Classification as debt or equity: -

Debt and equity instruments issued by a Company are classified as either financial liabilities or as equity in
accordance with the substance of the contractual arrangements and the definitions of a financial liability and an
equity instrument.

Financial liabilities: -

All financial liabilities are subsequently measured at amortised cost using the effective interest method.

Equity instruments: -

An equity instrument is any contract that evidences a residual interest in the assets of an entity after deducting all
of its liabilities. Equity instruments issued by a Company are recognised at the proceeds received, net of direct issue
costs.

Financial guarantee contracts: -

A financial guarantee contract is a contract that requires the issuer to make specified payments to reimburse the
holder for a loss it incurs because a specified debtor fails to make payments when due in accordance with the terms
of a debt instrument.

Financial guarantee contracts issued by a Company entity are initially measured at their fair values and, if not
designated as at FVTPL, are subsequently measured at the higher of:

• the amount of loss allowance determined in accordance with impairment requirements of Ind AS 109; and

• the amount initially recognized less, when appropriate, the cumulative amount of income recognized in
accordance with the principles of Ind AS 18.

Derecognition of financial liabilities: -

The Company derecognises financial liabilities when, and only when, the Company''s obligations are discharged,
cancelled or have expired. An exchange between with a lender of debt instruments with substantially different
terms is accounted for as an extinguishment of the original financial liability and the recognition of a new financial
liability. Similarly, a substantial modification of the terms of an existing financial liability (whether or not attributable
to the financial difficulty of the debtor) is accounted for as an extinguishment of the original financial liability and
the recognition of a new financial liability. The difference between the carrying amount of the financial liability
derecognized and the consideration paid and payable is recognized in profit or loss.

Offsetting Financial Instruments: -

Financial assets and liabilities are offset and the net amount is reported in the balance sheet where there is a legally
enforceable right to offset the recognized amounts and there is an intention to settle on a net basis or real is the
asset and settle the liability simultaneously. The legally enforceable right must not be contingent on future events
and must be enforceable in the normal course of business and in the event of default, insolvency or bankruptcy of
the Company or the counter party.

J. Cash and cash equivalents

For the purpose of presentation in the statement of cash flows, cash and cash equivalents includes cash on hand,
deposits held at call with financial institutions, other short-term, highly liquid investments with original maturities
of three months or less that are readily convertible to known amounts of cash and which are subject to an
insignificant risk of changes in value, and bank overdrafts. The company do not have bank overdraft.

K. Foreign currency:

The functional currency of the Company is Indian rupee (INR).

The company do not have any transactions in foreign currency or any currency other than functional currency.

L. Retirement and other employee benefits:

(i) Defined benefit plans

For defined benefit plans, the cost of providing benefits is determined using the Projected Unit Credit Method,
with actuarial valuations being carried out at Balance sheet date. Actuarial gains and losses are recognised in
full in the other comprehensive income for the period in which they occur. Company has not separately invested
/ taken any policy for terminal benefits of employees.

(ii) Defined contribution plans

Company is not contributing to defined contribution plans as the total number of employees of the company
are below legal minimum threshold limit.

(iii) Compensated absences

As per the policy of the company, unutilised and accumulated leaves lapses at the end of financial year.

M. Income Tax:

Income tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from ''profit before tax'' as
reported in the statement of profit and loss because of items of income or expense that are taxable or deductible in
other years and items that are never taxable or deductible. The Company''s current tax is calculated using tax rates
that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax

Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in the
standalone financial statements and the corresponding tax bases used in the computation of taxable profit.
Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are
generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits
will be available against which those deductible temporary differences can be utilised. Such deferred tax assets and
liabilities are not recognized if the temporary difference arises from the initial recognition (other than in a business
combination) of assets and liabilities in a transaction that affects neither the taxable profit nor the accounting
profit.

The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the
extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to
be recovered.

Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in which
the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or
substantively enacted by the end of the reporting period.

The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the
manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount
of its assets and liabilities.

Current and deferred tax for the period

Current and deferred tax are recognized in profit or loss, except when they relate to items that are recognized in
other comprehensive income or directly in equity, in which case, the current and deferred tax are also recognised in
other comprehensive income or directly in equity respectively.

N. Segment Reporting:

The Group has only one segment i.e. Share and Securities Broking and Intermediation services. There are no
separate reportable segments in terms of Ind AS 108. All assets of the Group are domiciled in India. The company
do not have any revenue from operations and hence reporting of segments contributing more than 10% to revenue
is not applicable.

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Dec 31, 2014

Not Available

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Dec 31, 2013

1. Accounting Convention Basis of accounting :

The financial statements are prepared under the historical cost convention, on accrual basis of accounting in accordance with the Companies Act, 1956 and in accordance with generally accepted accounting principles (Indian ''GAAP'') are in compliance with the Accounting Standards issued by the Institute of Chartered Accountants of India (ICAI).

2. Use of Estimates :

The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent amount as at the date of financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Any revision to the accounting estimates is recognized in the periods in which the results are known / materialized.

3. The Company''s main business is to provide corporate advisory services, investments and Broking. All other activities are incidental to the main business. As such, there are no separate reportable segments, as per Accounting Standard on ''Segment Reporting'' (AS 17) issued by the Institute of Chartered Accountants of India.

4. Income and Expenditure :

Income and Expenditure are accounted on accrual basis.

5. Fixed Assets :

All the fixed assets have been stated at their original cost inclusive of any expenses incurred for the acquisi- tion and / or installation as reduced by any sale / discard and accumulated depreciation.

The company makes an assessment of any indicator that may lead to impairment of assets on an annual basis. As asset is treated as impaired when the carrying cost of the asset exceeds its recoverable value, there is no such assets which is impaired during the year.

6. Depreciation :

The Company has provided depreciation at the rate prescribed in Schedule XIV to The Companies Act, 1956.

7. Investments :

a. Long Term investments are carried in the financial statement at cost, less any diminution in value, other than temporary as per AS-13

b. Shares, Debentures, Units, Warrants and Securities those are intended, at the time of acquisition, and there after to be held for a period exceeding twelve months are classified as "Investments".

c. Shares, Debentures, Units, Warrants and Securities are accounted under Investments on trade dates.

d. Rights entitlements are accounted for as Investments at issue price plus acquisition cost, if any.

e. Bonus entitlements are recognised on ex-bonus dates without any acquisition cost.

f. The cost of Investments include brokerage, service tax and stamp duty.

8. Valuation of Investments :

(a) Current Investments : Current Investments are carried at lower of cost or quoted/fair value. as per AS-13

(b) Long Term Investments : Quoted Investment are valued at cost or market value whichever is lower. Unquoted Investments are stated at cost. The decline in the value of the unquoted investment, other than temporary, is provided for as per AS-13.

Cost is inclusive of brokerage, fees and duties but excludes securities transaction tax.

9. Related Party Transactions :

Parties are considered to be related if at any time during the year, one party has the ability to control the other party or to exercise significant influence over the other party in making financial and/or operating decisions.

10. Provisions, Contingent Liabilities and Contingent Assets :

Provisions involving substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources. Contingent Liabilities are not recognized but are disclosed in the notes. Contingent Assets are neither recognized nor disclosed in the financial statements.

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Dec 31, 2012

1. Accounting Convention Basis of accounting :

The financial statements are prepared under the historical cost convention, on accrual basis of accounting in accordance with the Companies Act, 1956 and in accordance with generally accepted accounting principles (Indian ''GAAP’) are in compliance with the Accounting Standards issued by the Institute of Chartered Accountants of India (ICAI).

2. Use of Estimates :

The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent amount as at the date of financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Any revision to the accounting estimates is recognized in the periods in which the results are known / materialized.

3. The Company’s main business is to provide corporate advisory services, investments and Broking. All other activities are incidental to the main business. As such, there are no separate reportable segments, as per Accounting Standard on ''Segment Reporting’ (AS 17) issued by the Institute of Chartered Accountants of India.

4. Income and Expenditure :

Income and Expenditure are accounted on accrual basis.

5. Fixed Assets :

All the fixed assets have been stated at their original cost inclusive of any expenses incurred for the acquisi- tion and / or installation as reduced by any sale / discard and accumulated depreciation. The company makes an assessment of any indicator that may lead to impairment of assets on an annual basis. As asset is treated as impaired when the carrying cost of the asset exceeds its recoverable value, there is no such assets which is impaired during the year.

6. Depreciation :

The Company has provided depreciation at the rate prescribed in Schedule XIV to The Companies Act, 1956.

7. Investments :

a. Long Term investments are carried in the financial statement at cost, less any diminution in value, other than temporary as per AS-13

b. Shares, Debentures, Units, Warrants and Securities those are intended, at the time of acquisition, and there after to be held for a period exceeding twelve months are classified as "Investments".

c. Shares, Debentures, Units, Warrants and Securities are accounted under Investments on trade dates.

d. Rights entitlements are accounted for as Investments at issue price plus acquisition cost, if any.

e. Bonus entitlements are recognised on ex-bonus dates without any acquisition cost.

f. The cost of Investments include brokerage, service tax and stamp duty.

8. Valuation of Investments :

(a) Current Investments : Current Investments are carried at lower of cost or quoted/fair value. as per AS-13

(b) Long Term Investments : Quoted Investment are valued at cost or market value whichever is lower. Unquoted Investments are stated at cost. The decline in the value of the unquoted investment, other than temporary, is provided for as per AS-13.

Cost is inclusive of brokerage, fees and duties but excludes securities transaction tax.

9. Related Party Transactions :

Parties are considered to be related if at any time during the year, one party has the ability to control the other party or to exercise significant influence over the other party in making financial and/or operating decisions.

10. Provisions, Contingent Liabilities and Contingent Assets :

Provisions involving substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources. Contingent Liabilities are not recognized but are disclosed in the notes. Contingent Assets are neither recognized nor disclosed in the financial statements.

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Dec 31, 2011

1. Accounting Convention Basis of accounting :

The financial statements are prepared under the historical cost convention, on accrual basis of accounting in accordance with the Companies Act, 1956 and in accordance with generally accepted accounting principles (Indian 'GAAP') are in compliance with the Accounting Standards issued by the Institute of Chartered Accountants of India (ICAI).

2. Use of Estimates :

The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent amount as at the date of financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Any revision to the accounting estimates is recognized in the periods in which the results are known / materialized.

3. The Company's main business is to provide corporate advisory services, investments and Broking. All other activities are incidental to the main business. As such, there are no separate reportable segments, as per Accounting Standard on 'Segment Reporting' (AS 17) issued by the Institute of Chartered Accountants of India.

4. Income and Expenditure :

Income and Expenditure are accounted on accrual basis.

5. Fixed Assets :

All the fixed assets have been stated at their original cost inclusive of any expenses incurred for the acquisi- tion and / or installation as reduced by any sale / discard and accumulated depreciation. The company makes an assessment of any indicator that may lead to impairment of assets on an annual basis. As asset is treated as impaired when the carrying cost of the asset exceeds its recoverable value, there is no such assets which is impaired during the year.

6. Depreciation :

The Company has provided depreciation at the rate prescribed in Schedule XIV to The Companies Act, 1956.

7. Investments :

a. Long Term investments are carried in the financial statement at cost, less any diminution in value, other than temporary.

b. Shares, Debentures, Units, Warrants and Securities those are intended, at the time of acquisition, to be held for a period exceeding twelve months are classified as "Investments".

c. Shares, Debentures, Units, Warrants and Securities are accounted under Investments on trade dates.

d. Rights entitlements are accounted for as Investments at issue price plus acquisition cost, if any.

e. Bonus entitlements are recognised on ex-bonus dates without any acquisition cost.

f. The cost of Investments include brokerage, service tax and stamp duty.

8. Valuation of Investments :

(a) Current Investments : Current Investments are carried at lower of cost or quoted/fair value.

(b) Long Term Investments : Quoted Investment are valued at cost or market value whichever is lower. Unquoted Investments are stated at cost. The decline in the value of the unquoted investment, other than temporary, is provided for.

Cost is inclusive of brokerage, fees and duties but excludes securities transaction tax.

9. Related Party Transactions :

Parties are considered to be related if at any time during the year, one party has the ability to control the other party or to exercise significant influence over the other party in making financial and/or operating decisions.

10. Provisions, Contingent Liabilities and Contingent Assets :

Provisions involving substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources. Contingent Liabilities are not recognized but are disclosed in the notes. Contingent Assets are neither recognized nor disclosed in the financial statements.

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Dec 31, 2010

1. Accounting Convention Basis of accounting :

The financial statements are prepared under the historical cost convention' on accrual basis of accounting in accordance with the Companies Act' 1956 and in accordance with generally accepted accounting principles (Indian 'GAAP’) are in compliance with the Accounting Standards issued by the Institute of Chartered Accountants of India (ICAI).

2. Use of Estimates :

The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities' disclosure of contingent amount as at the date of financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Any revision to the accounting estimates is recognized in the periods in which the results are known / materialized.

3. The Company’s main business is to provide corporate advisory services' investments and Broking. All other activities are incidental to the main business. As such' there are no separate reportable segments' as per Accounting Standard on 'Segment Reporting’ (AS 17) issued by the Institute of Chartered Accountants of India.

4. Income and Expenditure :

Income and Expenditure are accounted on accrual basis.

5. Fixed Assets :

All the fixed assets have been stated at their original cost inclusive of any expenses incurred for the acquisi- tion and / or installation as reduced by any sale / discard and accumulated depreciation. The company makes an assessment of any indicator that may lead to impairment of assets on an annual basis. As asset is treated as impaired when the carrying cost of the asset exceeds its recoverable value' there is no such assets which is impaired during the year.

6. Depreciation :

The Company has provided depreciation at the rate prescribed in Schedule XIV to The Companies Act' 1956.

7. Investments :

a. Long Term investments are carried in the financial statement at cost' less any diminution in value' other than temporary.

b. Shares' Debentures' Units' Warrants and Securities those are intended' at the time of acquisition' to be held for a period exceeding twelve months are classified as “Investments".

c. Shares' Debentures' Units' Warrants and Securities are accounted under Investments on trade dates.

d. Rights entitlements are accounted for as Investments at issue price plus acquisition cost' if any.

e. Bonus entitlements are recognised on ex-bonus dates without any acquisition cost.

f. The cost of Investments include brokerage' service tax and stamp duty.

8. Valuation of Investments :

(a) Current Investments : Current Investments are carried at lower of cost or quoted/fair value.

(b) Long Term Investments : Quoted Investment are valued at cost or market value whichever is lower. Unquoted Investments are stated at cost. The decline in the value of the unquoted investment' other than temporary' is provided for.

Cost is inclusive of brokerage' fees and duties but excludes securities transaction tax.

9. Related Party Transactions :

Parties are considered to be related if at any time during the year' one party has the ability to control the other party or to exercise significant influence over the other party in making financial and/or operating decisions.

10. Provisions' Contingent Liabilities and Contingent Assets :

Provisions involving substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources. Contingent Liabilities are not recognized but are disclosed in the notes. Contingent Assets are neither recognized nor disclosed in the financial statements.

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Dec 31, 2008

1. Accounting Convention Basis of accounting :

The financial statements are prepared under the historical cost convention, on accrual bass of accounting in accordance with the Companies Act, 1956 and in accordance with generally accepted aa unting principles (Indian GAAP) are in compliance with the Accounting Standards issued by the Institute of i nartered Accoun- tants of India (ICAI).

2. Use of Estimates :

The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent amount as at the date of financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. Any revision to the accounting estimates is recognized in the periods in which the results are known /materialized.

3. The Companys main business-is to provide corporate advisory services, investments and Broking. All other activities are incidental to the main business. As such, there are no separate reportable segments, as per Accounting Standard on Segment Reporting (AS 17) issued by the Institute of Chartered Accountants of India. t -

4. Income and Expenditure:

Income and Expenditure are accounted on accrual basis.

5. Fixed Assets :

All the fixed assets have been stated at their original cost inclusive of any expenses incurred for the acquisition and I or installation as reduced by any sale / discard and accumulated depreciation.

The company makes an assessment of any indicator that may lead to impairment of assets on an annual basis.

As asset is treated as impaired when the carrying crw ? the asset exceeds its recoverable value, there is no such assets which fe impaired during the year.

6. Depreciation :

The Company has provided depreciation at the ra -sc i ad in Sent. juie XIV to The Companies Act, 1956.

7. Investments:

a. Long Term investments are-carried in the financial statement at cost, less any diminution in value, other than temporary.

b. Shares, Debentures, Units, Warrants and Securities those are intended, at the time of acquisition, to be hejd for a period exceeding twelve months are classified as "Investments".

c. Shares, Debentures, Units, Warrants and Securities are accounted under Investments on trade dates.

d. Rights entitlements are accounted for as Investments at issue price plus acquisition cost, if any.

e. Bonus entitlements are recognised on ex-bonus dates without any acquisition cost.

f. The cost of Investments include brokerage, service tax and stamp duty,

8. Valuation of Investments :

Quoted scripts under Investments, are valued at cost. The company has written off value of investments as per the policy and resolution of the Board.

9. Related Party Transactions :

Parties are considered to be related if at any time during the year, one party has the ability to control the other party or to exercise significant influence over the other party in making financial and/or operating decisions.

10. Provisions, Contingent Liabilities and Contingent Assets :

Provisions involving substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources. Contingent Liabilities afe not recognized but are disclosed-in the notes. Contingent Assets are neither recognized nor disclosed in the financial statements.

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Dec 31, 1996

1. Basis of Accounting.: The Company prepares its financial statements in accordance with generally accepted accounting principles and with the requirement of the Companies Act, 1956.

2. Income and Expenditure.: Income and expenditure are accounted on accrual basis.

3. Fixed Assets.: All the fixed assets have been stated at their original cost inclusive of any expenses incurred for the acquisition and/or installation as reduced by any sale/discard and accumulated depreciation.

4. Depreciation.; The Company has provided depreciation on straight line basis at the rate prescribed in Schedule XIV to the Companies Act, 1956.

5. Investment.: Investment are stated at cost.

6. Current Assets.: Stock-In-Trade is valued at actual cost or market price whichever is lower.

7. Amortization of Miscellaneous Expenditure.: Miscellaneous expenditure are amortized over a period of ten year.

8. Contingent Liabilities.: Contingent liabilities are determined on the basis of available information and are disclosed by way of note to the accounts.

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Dec 31, 1995

1. Basis of Accounting.

The Company prepares its financial statements in accordance with generally accepted accounting principles and with the requirement of the Companies Act, 1956.

2. Income and Expenditure.

Income and expenditure are accounted on accrual basis.

3. Fixed Assets.

All the fixed assets have been stated at their original cost inclusive of any expenses incurred for the acquisition and/or installation as reduced by any sale/discard and accumulated depreciation.

4. Depreciation.

The Company has provided depreciation on straight line basis at the rate prescribed in Schedule XIV to the Companies Act, 1956.

5. Investment.

Investments are stated at cost.

6. Current Asset.

Investments held as Stock-in-trade is valued at actual cost or market price which ever is lower.

7. Amortization of Miscellaneous Expenditure.

Miscellaneous expenditure are amortized over a period of ten year.

8. Contingent Liabilities.

Contingent liabilities are determined on the basis of available information and are disclosed by way of note to the accounts.