Accounting Policies of Anka India Ltd. Company

Mar 31, 2025

2 Material Accounting Policies

a) Inventories

The inventories consists of the rights over the Song Albums which the Company intends to be sold outright without
retaining any further rights. The inventories have been valued at the lower of Cost and Net Realisable Value as
prescribed under the IND AS 2 - Inventories.

b) Cash and Cash Equivalents

Cash comprises cash on hand and demand deposits with banks. Cash equivalents are short-term balances (with an
original maturity of three months or less from the date of acquisition), highly liquid investments that are readily
convertible into known amounts of cash and which are subject to insignificant risk of changes in value.

c) Income Tax

a) 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.

b) Deferred Tax

Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in the
financial statements and 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 utilized. Such deferred tax assets and liabilities not recognised if the
temporary differences arises from the initial recognition (other than in a business combination) of assets and
liabilities in a transaction that affects neither the taxable profit not 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 is realized, 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.

d) Property, Plant and Equipment

Recognition and Measurement

Property, plant and equipment are stated at cost of acquisition less accumulated depreciation and impairment in
value, if any.

Cost for additions comprises the purchase price and any other attributable cost of bringing the asset to its working
condition for its intended use.

Subsequent expenditures are added to its gross book value only if it increases the future benefits from the existing
asset beyond its previously assessed standard of performance and cost of the item can be measured reliably.

The Company identifies and determines cost of each component/part of the Property, plant and equipment
separately, if the component/ part has a cost which is significant to the total cost of the plant and equipment and has
useful life that is materially different from that of the remaining plant and equipment.

An item of property, plant and equipment is derecognised upon disposal or when no future economic benefits are
expected to arise from the continued use of the asset.

Gains or losses arising from derecognition of tangible Property, plant and equipment are measured as the difference
between the net disposal proceeds and the carrying amount of the asset and are recognised in the Statement of Profit
and Loss.

Depreciation of these assets commences when the assets are ready for their intended use. Depreciation is recognised
on the cost of assets (other than Capital work-in-progress) less their residual values on written down value method
over their useful lives as indicated in Schedule II of the Companies Act, 2013 and based on technical parameters/
assessments.

The estimated useful life is as follows:

Type of Asset Useful Life (Years)

Computers 3

Office Equipment’s 5

The residual values, useful lives and methods of depreciation of Property, plant and equipment are reviewed at each
financial year end and adjusted prospectively, if appropriate. The cost of assets not put to use before such date are
disclosed under ‘Capital work-in-progress’.

Acquisition of Rights in Movies are treated as Intangibles Assets under "Development".

Property, plant and equipment which are added / disposed off during the year, depreciation is provided on pro-rata
basis.

e) Employee Benefits

Short Term Employee Benefits

The employee benefits payable only within 12 months of rendering the services are classified as short term
employee benefits. Benefits such as salaries, Leave Travel Allowance, etc., is recognized in the period in which the
employee renders the related services

A liability is recognized for benefits accruing to employees in respect of wages and salaries, in the period the
related service is rendered at the undiscounted amount of the benefits expected to be paid in exchange for the related
service.

f) Financial Instruments

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or
equity instrument of another entity.

a) Financial Assets

Initial recognition and measurement

All financial assets are recognised initially at fair value plus, in the case of financial assets not recorded at fair value
through profit or loss, transaction costs that are attributable to the acquisition of the financial asset.

Investment in Subsidiary

Investment in Subsidiary is carried at Cost less accumulated Impairment losses if any. Where an indication of
impairment exists, the carrying amount of the investment is assessed and written down immediately to its
recoverable amount. On disposal of investment in Subsidiary, the difference between net disposal proceeds and the
carrying amounts are recognised in the Statement of Profit and Loss.

Classifications

The Company classifies its financial assets as subsequently measured at either amortised cost or fair value
depending on the company’s business model for managing the financial assets and the contractual cash flow
characteristics of the financial assets.

Business model assessment

The company makes an assessment of the objective of a business model in which an asset is held at an instrument
level because this best reflects the way the business is managed and information is provided to management

A financial asset is measured at amortized cost net of impairment, if the objective of the Company’s business model
is to hold the financial asset to collect the contractual cash flows and the contractual terms of the financial asset give
rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount
outstanding.

All other financial assets are measured at fair value through the Statement of Profit and Loss
Derecognition

The company derecognize a financial asset only when contractual rights to the cash flow from the asset expires or it
transfer the financial asset and substantially all the risks and rewards of ownership of the asset.

b) Financial Liability

Financial Liabilities are classified, at initial recognition, as either ‘Financial Liability at fair value through profit or
loss’ or ‘Other Financial Liabilities’.

i) Financial Liabilities are classified as ‘Financial Liability at fair value through profit or loss’, if they are held
for trading or if they are designated as financial liabilities at fair value through profit or loss. These are initially at
fair value with subsequent changes recognized in profit or loss.

ii) Other financial liabilities, are initially measured at fair value, net of directly attributable transaction costs.
Subsequent to initial recognition, these are measured at amortised cost using the effective interest rate method.

g) Fair Value Measurement

The Company measures financial instruments at fair value at each reporting date.

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. The fair value measurement is based on the presumption that
the transaction to sell the asset or transfer the liability takes place either:

i) in the principal market for the asset or liability, or

ii) in the absence of a principal market, in the most advantageous market for the asset or liability
The principal or the most advantageous market must be accessible by the Company.

The fair value of an asset or a liability is measured using the assumptions that market participants would use when
pricing the asset or liability, assuming that market participants act in their economic best interest.

A fair value measurement of a non-financial asset takes into account a market participant’s ability to generate
economic benefits by using the asset in its highest and best use or by selling it to another market participant that
would use the asset in its highest and best use.

The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data is
available to measure fair value, maximising the use of relevant observable inputs and minimising the use of
unobservable inputs.

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized
within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair
value measurement as a whole:

Level 1 — Quoted (unadjusted) market prices in active markets for identical assets or liabilities

Level 2 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is

directly or indirectly observable.

Level 3 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is
unobservable.

For assets and liabilities that are recognised in the financial statements on a recurring basis, the Company determines
whether transfers have occurred between levels in the hierarchy by re assessing categorisation (based on the lowest
level input that is significant to the fair value measurement as a whole) at the end of each reporting period.

At each reporting date, the Company analyses the movements in the values of assets and liabilities which are
required to be re-measured or re-assessed as per the Company’s accounting policies. For the purpose of fair value
disclosures, the Company has determined classes of assets and liabilities on the basis of the nature, characteristics
and risks of the asset or liability and the level of the fair value hierarchy as explained above.

h) Earnings Per Share

Basic earnings per share is computed by dividing the profit/ (loss) after tax (including the post tax effect of
extraordinary items, if any) by weighted average number of equity shares outstanding during the year.

i) Impairment of Non-Financial Asset

At each reporting date, the Company reviews the carrying amounts of its non-financial assets (other than inventories
and deferred tax assets) to determine whether there is any indication on impairment. If any such indication exists,
then the asset’s recoverable amount is estimated.

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Mar 31, 2024

2 Material Accounting Policies

a) Inventories

The inventories consists of the rights over the Song Albums which the Company intends to be sold outright without retaining any further rights.

The inventories have been valued at the lower of Cost and Net Realisable Value as prescribed under the IND AS 2 - Inventories.

b) Cash and Cash Equivalents

Cash comprises cash on hand and demand deposits with banks. Cash equivalents are short-term balances (with an original maturity of three
months or less from the date of acquisition), highly liquid investments that are readily convertible into known amounts of cash and which are
subject to insignificant risk of changes in value.

c) Income Tax

a) 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.

b) Deferred Tax

Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in the financial statements and
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 utilized. Such deferred tax assets and liabilities not
recognised if the temporary differences arises from the initial recognition (other than in a business combination) of assets and liabilities in a
transaction that affects neither the taxable profit not 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 is realized, 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.

d) Property, Plant and Equipment
Recognition and Measurement

Property, plant and equipment are stated at cost of acquisition less accumulated depreciation and impairment in value, if any.

Cost for additions comprises the purchase price and any other attributable cost of bringing the asset to its working condition for its intended use.

Subsequent expenditures are added to its gross book value only if it increases the future benefits from the existing asset beyond its previously
assessed standard of performance and cost of the item can be measured reliably.

The Company identifies and determines cost of each component/part of the Property, plant and equipment separately, if the component/ part has
a cost which is significant to the total cost of the plant and equipment and has useful life that is materially different from that of the remaining plant
and equipment.

An item of property, plant and equipment is derecognised upon disposal or when no future economic benefits are expected to arise from the
continued use of the asset.

Gains or losses arising from derecognition of tangible Property, plant and equipment are measured as the difference between the net disposal
proceeds and the carrying amount of the asset and are recognised in the Statement of Profit and Loss.

Depreciation of these assets commences when the assets are ready for their intended use. Depreciation is recognised on the cost of assets
(other than Capital work-in-progress) less their residual values on written down value method over their useful lives as indicated in Schedule II of
the Companies Act, 2013 and based on technical parameters/ assessments.

The estimated useful life is as follows:

The residual values, useful lives and methods of depreciation of Property, plant and equipment are reviewed at each financial year end and
adjusted prospectively, if appropriate. The cost of assets not put to use before such date are disclosed under ‘Capital work-in-progress’.

Acquisition of Rights in Movies are treated as Intangibles Assets under "Development".

Property, plant and equipment which are added / disposed off during the year, depreciation is provided on pro-rata basis.

e) Employee Benefits

Short Term Employee Benefits

The employee benefits payable only within 12 months of rendering the services are classified as short term employee benefits. Benefits such as
salaries, Leave Travel Allowance, etc., is recognized in the period in which the employee renders the related services

A liability is recognized for benefits accruing to employees in respect of wages and salaries, in the period the related service is rendered at the
undiscounted amount of the benefits expected to be paid in exchange for the related service.

f) Financial Instruments

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.

a) Financial Assets

Initial recognition and measurement

All financial assets are recognised initially at fair value plus, in the case of financial assets not recorded at fair value through profit or loss,
transaction costs that are attributable to the acquisition of the financial asset.

Investment in Subsidiary

Investment in Subsidiary is carried at Cost less acumulated Impairment losses if any. Where an indication of impairment exists, the carrying
amount of the investment is assessed and written down immediately to its recoverable amount. On disposal of investment in Subsidiary, the
difference between net disposal proceeds and the carrying amounts are recognised in the Statement of Profit and Loss.

Classifications

The Company classifies its financial assets as subsequently measured at either amortised cost or fair value depending on the company’s
business model for managing the financial assets and the contractual cash flow characteristics of the financial assets.

Business model assessment

The company makes an assessment of the objective of a business model in which an asset is held at an instrument level because this best
reflects the way the business is managed and information is provided to management

A financial asset is measured at amortized cost net of impairment, if the objective of the Company’s business model is to hold the financial
asset to collect the contractual cash flows and the contractual terms of the financial asset give rise on specified dates to cash flows that are
solely payments of principal and interest on the principal amount outstanding.

All other financial assets are measured at fair value through the Statement of Profit and Loss

Derecognition

The company derecognize a financial asset only when contractual rights to the cash flow from the asset expires or it transfer the financial
asset and substancially all the risks and rewards of ownership of the asset.

b) Financial Liability

Financial Liabilities are classified, at initial recognition, as either ‘Financial Liability at fair value through profit or loss’ or ‘Other Financial Liabilil

i) Financial Liabilities are classified as ‘Financial Liability at fair value through profit or loss’, if they are held for trading or if they are
designated as financial liabilities atfair value through profitor loss. These are initially at fair valuewith subsequentchanges recognized in
profit or loss.

ii) Other financial liabilities, are initially measured atfair value, net of directly attributable transaction costs. Subsequentto initial recognition,
these are measured at amortised cost using the effective interest rate method.

g) Fair Value Measurement

The Company measures financial instruments at fair value at each reporting date.

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. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes
place either:

i) in the principal market for the asset or liability, or

ii) in the absence of a principal market, in the most advantageous market for the asset or liability
The principal or the most advantageous market must be accessible by the Company.

The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability,
assuming that market participants act in their economic best interest.

A fair value measurement of a non-financial asset takes into account a market participant’s ability to generate economic benefits by using the
asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use.

The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data is available to measure fair value,
maximising the use of relevant observable inputs and minimising the use of unobservable inputs.

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair value hierarchy,
described as follows, based on the lowest level input that is significant to the fair value measurement as a whole:

Level 1 — Quoted (unadjusted) market prices in active markets for identical assets or liabilities

Level 2 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable.

Level 3 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable.

For assets and liabilities that are recognised in the financial statements on a recurring basis, the Company determines whether transfers have

occurred between levels in the hierarchy by re assessing categorisation (based on the lowest level input that is significant to the fair value
measurement as a whole) at the end of each reporting period.

At each reporting date, the Company analyses the movements in the values of assets and liabilities which are required to be re-measured or re¬
assessed as per the Company’s accounting policies. For the purpose of fair value disclosures, the Company has determined classes of assets
and liabilities on the basis of the nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy as explained
above.

h) Earnings Per Share

Basic earnings per share is computed by dividing the profit/ (loss) after tax (including the post tax effect of extraordinary items, if any) by
weighted average number of equity shares outstanding during the year.

i) Impairment of Non-Financial Asset

At each reporting date, the Company reviews the carrying amounts of its non-financial assets (other than inventories and deferred tax assets) to
determine whether there is any indication on impairment. If any such indication exists, then the asset’s recoverable amount is estimated.

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Mar 31, 2014

A. USE OF ESTIMATES

The preparation of the financial statements in conformity with Accounting Standards & GAAP requires management to make estimates and assumptions that affect the reported balances of assets and liabilities and disclosure relating to contingent assets and liabilities as at the date of the financial statements and reported amount of Income and expenses during the period. Examples of such estimates include useful life of fixed assets, provisions for doubtful debts, income taxes, write-off of deferred revenue expenditure and intangible assets. Contingencies are recorded when it is probable that a liability will be incurred, and the amount can be reasonably estimated. Actual results could differ from those estimates. Difference between the actual results and estimates are recognized in the period in which the results are known/ materialized.

b. REVENUE RECOGNITION

Income and Expenditure are accounted for on accrual basis.

c. TANGIBLE FIXED ASSETS AND DEPRECIATION

I) Fixed Assets are stated at their original cost of acquisition inclusive of inward freight, duties and expenditure incurred in the acquisition, construction/ installation.

ii) Depreciation on Fixed Assets is provided on Written Down Value method and in accordance with the rates provided under the Schedule-XIV of the Companies Act, 1956.

d. IMPAIRMENT OF ASSETS

The Company identifies impairable assets at the year end in accordance with the guiding principles of Accounting Standard 28, issued by the Institute of Chartered Accountants of India, for the purpose of arriving at impairment loss thereon being the difference between the book value and recoverable value of relevant assets. Impairment loss, when crystallizes, are charged against revenues for the year.

e. INVENTORIES

The Inventories are valued at lower of cost /net realizable value, Cost includes cost of material and other direct overheads such as inward freight, brokerage on procurement of material etc. Under this broad principle, Inventory is valued at FIFO basis.

f. FOREIGN CURRENCY TRANSACTIONS

i) Initial recognition -

Foreign currency transactions are recorded in the reporting currency, by applying to the foreign currency amount the exchange rate between the reporting currency and the foreign currency at the date of the transaction.

ii) Conversion -

Foreign currency monetary items are reported using the closing rate. Non-monetary items which are carried in terms of historical cost denominated in a foreign currency are reported using the exchange at the date of the transaction; and non-monetary items which are carried at fair value or other similar valuation denominated in a foreign currency are reported using the exchange rates that existed when the values were determined.

iii) Exchange differences -

Exchange differences arising on the settlement of monetary, items or on reporting Company''s monetary items at rates different from those at which they were initially recorded during the year, or reported in previous financial statements, are recognized as income or as expenses in the year in which they arise.

iv) Forward exchange contracts not intended for trading or speculation purposes -

The premium or discount arising at the inception of forward exchange contracts is claimed as expenses or income. Any profit or loss arising on cancellation or renewal of forward exchange contract is recognized as income or as expense for the year.

g. RETIREMENT BENEFITS

a) Defined Contribution Plan

(i) The Company makes defined contributions to Provident Fund which are recognized in the Profit and Loss Account on accrual basis.

(ii) The Company''s contribution to State Plan, viz. Employees'' State Insurance Scheme are recognized in the Profit & Loss Account on accrual basis.

b) Defined Benefit Plan

(i) Accruing liability for gratuity is accounted for on the basis of present salaries and length of service of each employee.

(ii) Accruing liability for leave encashment is accounted for on the basis of present salaries and unclaimed leaves.

h. INCOME-TAX/DEFERRED TAX

Income taxes are computed using the tax effect accounting method, where taxes are accrued in the same period in which the related revenue and expenses arise. A provision is made for income tax annually, based on the tax liability computed, after considering tax allowances and exemptions. Provisions are recorded when it is estimated that a liability due to disallowances or other matters is probable.

The differences that result between the profit considered for income taxes and the profit as per the financial statements are identified, and thereafter a deferred tax asset or deferred tax liability is recorded for timing differences, namely the difference that originate in one accounting period and reverse in another, based on the tax effect of the aggregate amount being considered. The tax effect is calculated on the accumulated timing differences at the end of an accounting period, based on prevailing enacted or substantially enacted regulations. Deferred tax assets are recognized only if there is reasonable certainty that they will be realized and are reviewed for the appropriateness of their respective carrying values at each balance sheet date.

I. PROVISIONS AND CONTINGENT LIABILITIES

A provision is recognized if, as a result of a past event, the Company has a present legal obligation that can be estimated reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are determined by the best estimate of the outflow of economic benefits required to settle the obligation at the reporting date.Where no reliable estimate can be made, a disclosure is made as contingent liability. A disclosure for a contingent liability is also made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources. Where there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made.

j. MISCELLANEOUS EXPENDITURE

Preliminary Expenditure, Pre-Operative Expenditure & Capital Enhancement Fee is amortized over a period of five years from the year in which such expenses are incurred.

k. CLAIMS AGAINST/BYTHE COMPANY

Claims against/by the Company are accounted for on acceptance of the same.

l. EVENTS OCCURRING AFTER THE BALANCE SHEET DATE

Events occurring after the date of Balance Sheet are considered up to the date of approval of accounts by the Board of Directors.

m. EARNINGS PER SHARE

Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity shareholders by the weighted average number of equity shares outstanding during the period.

For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to equity shareholders by the weighted average number of equity shares outstanding during the period are adjusted for the effects of all dilutive potential equity shares.

n. MEASUREMENT OF EBIDTA

As permitted by the Guidance Note on the Revised Schedule VI to the Companies Act, 1956, the company has elected to present earnings before interest, tax, depreciation and amortization (EBITDA) as a separate line item on the face of the statement of profit and loss. The company measures EBITDA on the basis of profit/ (loss) from continuing operations. In its measurement, the company does not include depreciation and amortization expense, finance costs and tax expense.

o. OTHER ACCOUNTING POLICIES

These are consistent with the generally accepted accounting principles and practices.

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Mar 31, 2012

A) General

i) The accounts are prepared on historical cost basis and as a going concern. Accounting policies not specifically referred to otherwise are consistent with generally accepted accounting principles as applicable in India.

ii) Income and Expenditure are accounted for on accrual basis.

iii) During the year ended 31st March 2012 , revised schedule VI notified under Companies Act 1956 has become applicable to the company for preparation and presentation of its financial statements. The adoption of revised schedule VI did not have any impact on recognition and measurement principles followed for preparation of financial statements. However , it has significantly impacted the presentation and disclosures made in the financial statements. The company has a lso reclassified previous year figures in accordance to the requirements applicable in the current year.

b) Fixed Assets

Fixed assets are stated at cost of acquisition, including freight, duties and other incidental expenses related to acquisition and installation less depreciation.

Cost of fixed assets borne by other parties is reduced from the carrying value of the respective fixed assets.

c) Inventories

Inventories are valued at lower of cost or net realizable value. Cost is arrived on FIFO basis and is inclusive of taxes and duties paid/incurred (other than those recovered /recoverable from taxing authorities). Adequate provision is made in respect of non-standard and obsolete items.

d) Impairment of Assets

The Company identifies impairable assets at the year end in accordance with the guiding principles of Accounting Standard 28, issued by the Institute of Chartered Accountants of India, for the purpose of arriving at impairment loss thereon being the difference between the book value and recoverable value of relevant assets. Impairment loss, when crystallizes, are charged against revenues for the year.

e) Foreign Currency Translation

i) Transactions in foreign currencies are recorded at the exchange rates prevailing on the date of transaction

ii) Assets and Liabilities receivable/payable in foreign currencies are translated at the year end exchange rates.

iii) Any income or expense on account of exchange difference either on settlement or on translation is recognised in the Profit and Loss Account.

f) Depreciation

Depreciation is provided on Straight Line Method at the rates prescribed under the Schedule- XIV of the Companies Act, 1956 on pro-rata basis.

g) Retirement and Other Employee Benefits

a) Defined Contribution Plan

The Company makes defined contributions to Provident Fund which are recognized in the Profit and Loss Account on accrual basis.

The Company''s contribution to State Plan, viz. Employees'' State Insurance Scheme are recognized in the Profit & Loss Account on accrual basis.

b) Defined Benefit Plan

(i) Accruing liability for gratuity is accounted for on the basis of present salaries and length of service of each employee.

(ii) Accruing liability for leave encashment is accounted for on the basis of present salaries and unclaimed leaves.

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Mar 31, 2011

A) General

i) The accounts are prepared on historical cost basis and as a going concern. Accounting policies not specifically referred to otherwise are consistent with generally accepted accounting principles as applicable in India.

ii) Income and Expenditure are accounted for on accrual basis.

b) Fixed Assets assets are stated at cost of acquisition, including freight, duties and other incidental expenses related to acquisition and installation less depreciation.

Cost of fixed assets borne by other parties is reduced from the carrying value of the respective fixed assets.

c) Inventories

Inventories are valued at lower of cost or net relisable value. Cost is arrived on FIFO basis and is inclusive of taxes and duties paid/incurred (other than those recovered /recoverable from taxing authorities). Adequate provision is made in respect of non-standard and obsolete items.

d) Impairment of Assets

The Company identifies impairable assets at the year end in accordance with the guiding principles of Accounting Standard 28, issued by the Institute of Chartered Accountants of India, for the purpose of arriving at impairment loss thereon being the difference between the book value and recoverable value of relevant assets. Impairment loss, when crystallizes, are charged against revenues for the year.

e) Foreign Currency Translation

i) Transactions in foreign currencies are recorded at the exchange rates prevailing on the date of transaction

ii) Assets and Liabilities receivable/payable in foreign currencies are translated at the year end exchange rates.

iii) Any income or expense on account of exchange difference either on settlement or on translation is recognised in the Profit and Loss Account.

f) Depreciation

Depreciation is provided on Straight Line Method at the rates prescribed under the Schedule- XIV of the Companies Act, 1956 on pro-rata basis.

g) Sales

Sales are accounted on dispatch of product and stated net of discounts, returns and sales tax.

h) Excise Duty

Excise Duty Payable on finished goods lying in the factory at the year end is provided. The same being an element of cost of manufacturing is included in the inventory of finished goods.

i) Retirement and Other Employee Benefits

a) Defined Contribution Plan

The Company makes defined contributions to Provident Fund which are recognized in the Profit and Loss Account on accrual basis.

The Company''s contribution to State Plan, viz. Employees'' State Insurance Scheme are recognized in the Profit & Loss Account on accrual basis.

b) Defined Benefit Plan

i) Accruing liability for gratuity is accounted for on the basis of present salaries and length of service of each employee.

ii) Accruing liability for leave encashment is accounted for on the basis of present salaries and unclaimed leaves.

c) Short Term Employee Benefits

Short term employee benefit obligations are measured on an undiscounted basis and charged to the Profit & Loss Account on accrual basis.

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Sep 30, 2010

A) General

i) The accounts are prepared on historical cost basis and as a going concern. Accounting policies not specifically referred to otherwise are consistent with generally accepted accounting principles as applicable in India.

ii) Income and Expenditure are accounted for on accrual basis.

b) Fixed Assets

Fixed assets are stated at cost of acquisition, including freight, duties and other incidental expenses related to acquisition and installation less depreciation.

Cost of fixed assets borne by other parties is reduced from the carrying value of the respective fixed assets.

c) Inventories

Inventories are valued at lower of cost or net relisable value. Cost is arrived on FIFO basis and is inclusive of taxes and duties paid/incurred (other than those recovered /recoverable from taxing authorities). Adequate provision is made in respect of non-standard and obsolete items.

d) Impairment of Assets

The Company identifies impairable assets at the year end in accordance with the guiding principles of Accounting Standard 28, issued by the Institute of Chartered Accountants of India, for the purpose of arriving at impairment loss thereon being the difference between the book value and recoverable value of relevant assets. Impairment loss, when crystallizes, are charged against revenues for the year.

e) Foreign Currency Translation

i) Transactions in foreign currencies are recorded at the exchange rates prevailing on the date of transaction

ii) Assets and Liabilities receivable/payable in foreign currencies are translated at the year end exchange rates.

iii) Any income or expense on account of exchange difference either on settlement or on translation is recognised in the Profit and Loss Account.

f) Depreciation

Depreciation has been provided on Straight Line Method at the rates prescribed under the Schedule-XIV of the Companies Act, 1956 on pro-rata basis.

g) Sales

Sales are accounted on dispatch of product and stated net of discounts, returns and sales tax.

h) Excise Duty

Excise Duty Payable on finished goods lying in the factory at the year end is provided. The same being an element of cost of manufacturing is included in the inventory of finished goods.

i) Retirement and Other Employee Benefits

a) Defined Contribution Plan

The Company makes defined contributions to Provident Fund which are recognized in the Profit and Loss Account on accrual basis.

The Company''s contribution to State Plan, viz. Employees'' State Insurance Scheme are recognized in the Profit & Loss Account on accrual basis.

b) Defined Benefit Plan

The Company''s liabilities under Payment of Gratuity Act and leave encashment / compensated absences are determined on the basis of actuarial valuation made at the end of each financial year using the projected unit credit method. Actuarial gains and losses are recognized immediately in the Profit and Loss Account as income/expenses. Obligation is measured at the present value of estimated future cash flows using a discounted rate which is determined by reference to market yields at the Balance Sheet date on Government Bonds.

c) Short Term Employee Benefits

Short term employee benefit obligations are measured on an undiscounted basis and charged to the Profit & Loss Account on accrual basis.

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Jun 30, 2009

A) General

i) The accounts are prepared on historical cost basis and as a going concern. Accounting policies not specifically referred to otherwise are consistent with generally accepted accounting principles as applicable in India. ii) Income and Expenditure are accounted for on accrual basis.

b) Fixed Assets

Fixed assets are stated at cost of acquisition, including freight, duties and other incidental expenses related to acquisition and installation less depreciation.

Cost of fixed assets borne by other parties is reduced from the carrying value of the respective fixed assets.

c) Inventories

Inventories are valued at lower of cost or net relisable value. Cost is arrived on FIFO basis and is inclusive of taxes and duties paid/incurred (other than those recovered /recoverable from taxing authorities). Adequate provision is made in respect of non- standard and obsolete items.

d) Impairment of Assets

The Company identifies impairable assets at the year end in accordance with the guiding principles of Accounting Standard 28, issued by the Institute of chartered accountants of india, for the purpose of arriving^^^^irment loss thereon being the difference between the book value and recoverable value of relevant assets. Impairment loss, when crystallizes, are charged against revenues for the year.

e) Foreign Currency Translation

i) Transactions in foreign currencies are recorded at the exchange rates prevailing on the date of transaction

ii) Assets and Liabilities receivable/payable in foreign currencies are translated at the year end exchange rates.

iii) Any income or expense on account of exchange difference either on settlement or on translation is recognised in the Profit and Loss Account.

f) Depreciation

Depreciation has been provided on Straight Line Method at the rates prescribed under the Schedule-XIV of the Companies Act, 1956 on pro-rata basis.

g) Sales

Sales are accounted on dispatch of product and stated net of discounts, returns and sales tax.

h) Excise Duty

Excise Duty Payable on finished goods lying in the factory at the year end is provided. The same being an element of cost of manufacturing is included in the inventory of finished goods.

i) Retirement and Other Employee Benefits

a) Defined Contribution Plan

The Company makes defined contribution to Provident Fund which are recognized in the Profit and Loss Account on accrual basis. The Company''s contribution to State Plan, viz. Employees'' State Insurance scheme is recognized in the Profit & Loss Account on accrual basis.

b) Defined Benefit Plan

The Company''s liabilities under Payment of Gratuity Act and compensated absences are determined on the basis of actuarial valuation made at the end of each financial year using the projected unit credit method. Actuarial gain and losses are recog nized immediately in the Profit and Loss Account as income/expenses. Obligation is measured at the present value of estimated future cash flows using a discounted rate that is determined by reference to market yields at the Balance Sheet date on Government Bonds.

c) Short Term Employee Benefits

Short term employee benefit obligations are measured on an undiscounted basis and charged to the Profit & Loss Account on accrual basis.