Accounting Policies of Boston Bio Systems Ltd. Company

Mar 31, 2024

2 Material Accounting Policies :

2.1 Statement of compliance

These financial statements are prepared in accordance with Indian Accounting Standards (Ind AS), the provisions of the Companies Act, 2013 (“the
Companies Act”), as applicable and guidelines issued by the Securities and Exchange Board of India (“SEBI”). The Ind AS are prescribed under
Section 133 of the Act read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and Companies (Indian Accounting
Standards) Amendment Rules, 2016.

The financial statements correspond to the classification provisions contained in Ind AS 1, “Presentation of Financial Statements”. For clarity,
various items are aggregated in the statements of profit and loss and balance sheet. These items are disaggregated separately in the notes to the
financial statements, where applicable.

Accounting policies have been applied consistently to all periods presented in these financial statements.

2.2 Current versus non-current classification

The Company presents assets and liabilities in the balance sheet based on current/ non-current classification. An asset is treated as current when it
is:

- Expected to be realised or intended to be sold or consumed in normal operating cycle

- Held primarily for the purpose of trading

- Expected to be realised within twelve months after the reporting period, or

- Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period.

All other assets are classified as non-current.

A liability is current when:

- It is expected to be settled in normal operating cycle

- It is held primarily for the purpose of trading

- It is due to be settled within twelve months after the reporting period, or

- There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period.

2.3 Basis of preparation and presentation

The 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 financial statements is determined on such a basis, except for leasing transactions that are within the scope of Ind AS 17 and measurements

that have some similarities to fair value but are not fair value, such as net realisable value in Ind AS 2 or value in use in Ind AS 36.

In addition, for financial reporting purposes, fair value measurements are categorised 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.

2.4 Use of estimates

The preparation of these 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 financial statements and the reported amounts of income and expense for the periods presented.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised 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 valuation of deferred tax assets and provisions and contingent liabilities.

Valuation of deferred tax assets

In view of uncertainty of future taxable profits, the Company has not recognized deferred tax asset (net of deferred tax liabilities) at the year end.

2.5 Revenue recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably
measured, regardless of when the payment is being made. Revenue is measured at the fair value of the consideration received or receivable, taking
into account contractually defined terms of payment and excluding taxes or duties collected on behalf of the government.

The specific recognition criteria described below must also be met before revenue is recognised:

a) Income is recognized on accrual basis except income related to non-performing assets, which is accounted on cash basis in accordance with
prudential norms of Reserve Bank of India.

b) The Company has adopted Implicit Rate of Return (IRR) method of accounting in respect of finance charges income for hire purchase/loan
transactions. As per this method, the IRR involved in each hire purchase/loan transaction is recognized and finance charges calculated by applying
the same on outstanding principal financed thereby establishing equitable distribution of income over the period of the agreement.

c) Interest on overdue installments is accounted for on receipt basis.

d) Interest income from a financial asset is recognised 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.

e) Dividend income is recognised at the time when right to receive the payment is established, which is generally when the shareholders approve the
dividend.

2.6 Foreign currencies

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

Income and expenses in foreign currencies are recorded at exchange rates prevailing on the date of the transaction. Foreign currency denominated
monetary assets and liabilities are translated at the exchange rate prevailing on the balance sheet date and exchange gains and losses arising on
settlement and restatement are recognised in the statement of profit and loss.

2.7 Employee benefits

The Company provides post-employment benefits through various defined contribution and defined benefit plans.

2.7.1 Defined contribution plans

A defined contribution plan is a plan under which the Company pays fixed contributions into an independent fund administered by the government.
The Company has no legal or constructive obligations to pay further contributions after its payment of the fixed contribution, which are recognised
as an expense in the year in which the related employee services are received.

2.8 Taxation

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

2.8.1 Current tax

Current tax assets and liabilities for the current and prior years are measured at the amount expected to be recovered from or paid to the taxation
authorities

Current tax is the amount of tax payable on the taxable income for the period as determined in accordance with the applicable tax rates and the
provisions of the Income tax Act,1961.

2.8.2 Deferred tax

Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in the 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 recognised if
the temporary difference arises from the initial recognition 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.

2.8.3 Current and deferred tax for the year

Current and deferred tax are recognised in profit or loss, except when they relate to items that are recognised 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.

2.09 Inventories

Inventories (Other than Quoted Shares & Securities) are valued at cost or net realisable value, which ever is lower. Cost is determined on First-In
First-Out (FIFO) basis and includes cost of purchase and other costs incurred in bringing inventories to their present location and condition. Net
realisable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and the estimated costs necessary
to make the sale.

2.10 Property plant and equipment

The Company has elected to continue with the carrying value of all of its plant and equipment (including freehold land) as at the transition date, viz.,

1 April 2015 measured as per the previous GAAP and use that carrying value as its deemed cost as of the transition date.

Property plant and equipment and capital work in progress are stated at cost of acquisition or construction net of accumulated depreciation and
impairment loss (if any).

Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future
economic benefits associated with the item will flow to the Company and the cost of the item can be measured reliably. The carrying amount of the
replaced part is derecognised. Repairs and maintenance are charged to the Statement of Profit and Loss during the financial period in which they are
incurred.

Particulars of PPE Useful life (in years

Vehicles (Two-wheelers) 10

Generators 15

Furniture & fixtures 10

Computers 3

Depreciation is computed on Written Down Value method (''WDV'') based on estimated useful lives as determined by internal assessment of the
assets in terms of Schedule of II to the Companies Act, 2013.

An item of property, plant and equipment and any significant part initially recognised is derecognised upon disposal or when no future economic
benefits are expected from its use or disposal. Any gain or loss arising on derecognition of the asset (calculated as the difference between the net
disposal proceeds and the carrying amount of the asset) is included in the income statement when the asset is derecognised.

2.11 Intangible assets

Development of property (website) and software costs are included in the balance sheet as intangible assets, when they are clearly linked to long
term economic benefits for the Company. These are measured initially at purchase cost and then amortised on a straight-line basis over their
estimated useful lives.

2.12 Impairment of tangible and intangible assets

Property, plant and equipment and intangible assets with finite life are evaluated for recoverability whenever there is any indication that their
carrying amounts may not be recoverable. If any such indication exists, the recoverable amount (i.e. higher of the fair value less cost to sell and the
value-in-use) is determined on an individual asset basis unless the asset does not generate cash flows that are largely independent of those from
other assets. In such cases, the recoverable amount is determined for the cash generating unit (CGU) to which the asset belongs.

If the recoverable amount of an asset (or CGU) is estimated to be less than its carrying amount, the carrying amount of the asset (or CGU) is
reduced to its recoverable amount. An impairment loss is recognised in the statement of profit and loss.

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Mar 31, 2015

I) Basis of Accounting: The accounts of the company are prepared under the historical cost convention and in accordance with the applicable accounting standards issued by the Institute of Chartered Accountants of India, except where otherwise stated and the relevant provisions of the Companies Act, 1956. For recognition of Profit or Loss, mercantile system of accounting is followed except in the following cases where accounting is done on payment/receipt basis:- a) Leave with wages & salary

b) Rebate/claim on sales & purchases

c) Legal and Professional Charges.

ii) Fixed Assets: Fixed assets acquired during the period are stated at cost of acquisition inclusive of all incidental expenses and any attributable cost for bringing the assets to its working condition and exclusive of CENVAT Credit on Capital Account.

iii) Depreciation: The depreciation of fixed assets has been provided on SLM Method as per the rates prescribed under Co.Act,2013

iv) Investments: The securities acquired with the intention of holding till maturity or for a longer period are classified as investments. Investments are cost arrived at on weighted average basis. Commission earned in respect of securities acquire upon development are reduced from the cost of acquisition. Appropriate provisions is made for other than temporary diminution in the value of investments.

v) Inventories:

a) The securities acquired with the intention of holding for short term are classified as investment and securities acquired for trading are classified as stock-in-trade.

b) The securities held as stock-in-trade are valued at lower of cost arrived at on weighted average basis or market/ fair value, computed category-wise. In Case of investment transferred to stock in trade, carrying amount on the date of transfer is considered as cost. Commission earned in respect of securities acquired upon devolvement is reduced from the cost of acquisition. Fair market value of unquoted shares is taken at break-up value of shares as per the latest audited Balance Sheet of the concerned company. In case of debt instruments, fair market value is worked out on the basis of yield to maturity rate selected considered quotes where available and credit profile of the issuer and market related spreads over the government securities.

c) Discounted instruments like commercial paper/treasury bills/zero coupon instruments are valued at carrying cost. The difference between the acquisition cost and the redemption value of discounted instruments is apportioned on a straight line basis for the period of holding and recognized as interest income.

d) Units of mutual fund are valued at lower of cost and net asset value.

vi) Gratuity: The management has decided to adopt cash basis of accounting for gratuity liability, hence no provision has been made for accrued liability in the accounts of the company.

vii) Foreign Currency Transactions: Transactions in foreign exchange are accounted for at exchange rates prevailing on the date on which the transaction takes place. Gains and Losses arising out of fluctuations in exchange rates, relating to the fixed assets, are adjusted to the carrying amount of fixed assets and in other cases transferred to revenue accounts.

viii) Taxation: - Provision for current tax is made on the basis of applicable Income Tax Provisions for the current accounting period.

No provision is made for deferred tax as depreciation as not been charged by the company during the year.

ix) Borrowing Cost:- Borrowing cost which are directly attributable to the acquisition/construction of fixed assets till the time such assets are ready for use are capitalized as part of the assets. Other borrowing costs are treated as revenue expenditure and charged to profit and loss account for the year.

x) Segment Reporting:- The company has identified its primary reportable segments under AS-17 and necessary disclosure is separately made in notes in accounts. The accounting policies adopted for segment report are in line with the accounting policies of the company with the following additional policies for segment reporting. Revenue and expenses have been identified to a segment on the basis of relationship to operating activities of the segment. Revenue and expenses which relate to enterprise as a whole and are not allocable to a segment on reasonable basis have been disclosed as "Unallocable ". Segment assets and segment liabilities represents assets and liabilities in respective segments. Investments, tax related assets and other assets and liabilities that cannot be allocated to a segment on a reasonable basis have been disclosed as "Unallocable"

xi) Related Party Disclosures:- Related Party Disclosures as per AS-18 issued by ICAI is made and disclosed separately in notes of accounts.

xii) Earning Per Share:- Earning Per Share has been calculated on weighted average of total number of shares as per AS-20 issued by ICAI.

xiii) Impairment of Assets:- The Company has a policy of assessing the impairment of Intangible assets every year in accordance with AS-28as prescribed by ICAI. This is done through comparing its carrying amount as per books of accounts with its recoverable value. Hence no provision is required as per AS-28.

xiv ) Revenue Recognition : Revenue from issue management services loan syndication, financial advisory services etc. is recognized based on the stage of completion of assignments and terms of agreement with the client.

Gain and losses of agreement with securities and derivatives are recognized on trade date.

Dividend income is recognized when right to receive the dividend is established. Interest income is recognized on the time proportion basis.

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Mar 31, 2014

I) Basis of Accounting: The accounts of the company are prepared under the historical cost convention and in accordance with the applicable accounting standards issued by the Institute of Chartered Accountants of India, except where otherwise stated and the relevant provisions of the Companies Act, 1956. For recognition of Profit or Loss, mercantile system of accounting is followed except in the following cases where accounting is done on payment/receipt basis:- a) Leave with wages & salary

b) Rebate/claim on sales & purchases

c) Legal and Professional Charges.

ii) Fixed Assets: Fixed assets acquired during the period are stated at cost of acquisition inclusive of all incidental expenses and any attributable cost for bringing the assets to its working condition and exclusive of CENVAT Credit on Capital Account.

iii) Depreciation: The depreciation of fixed assets has been provided on WDM Method as per the rates prescribed in Schedule XIV to the Companies Act, 1956. But no depreciation for the year ended on 31.03.2014 has been charged as there is no fixed assets of the company.

iv) Investments: The securities acquired with the intention of holding till maturity or for a longer period are classified as investments. Investments are cost arrived at on weighted average basis. Commission earned in respect of securities acquire upon development are reduced from the cost of acquisition. Appropriate provisions is made for other than temporary diminution in the value of investments.

v) Inventories:

a) The securities acquired with the intention of holding for short term are classified as investment and securities acquired for trading are classified as stock-in-trade.

b) The securities held as stock-in-trade are valued at lower of cost arrived at on weighted average basis or market/ fair value, computed category-wise. In Case of investment transferred to stock in trade, carrying amount on the date of transfer is considered as cost. Commission earned in respect of securities acquired upon devolvement is reduced from the cost of acquisition. Fair market value of unquoted shares is taken at break-up value of shares as per the latest audited Balance Sheet of the concerned company. In case of debt instruments, fair market value is worked out on the basis of yield to maturity rate selected considered quotes where available and credit profile of the issuer and market related spreads over the government securities.

c) Discounted instruments like commercial paper/treasury bills/zero coupon instruments are valued at carrying cost. The difference between the acquisition cost and the redemption value of discounted instruments is apportioned on a straight line basis for the period of holding and recognized as interest income.

d) Units of mutual fund are valued at lower of cost and net asset value.

vi) Gratuity: The management has decided to adopt cash basis of accounting for gratuity liability, hence no provision has been made for accrued liability in the accounts of the company.

vii) Foreign Currency Transactions: Transactions in foreign exchange are accounted for at exchange rates prevailing on the date on which the transaction takes place. Gains and Losses arising out of fluctuations in exchange rates, relating to the fixed assets, are adjusted to the carrying amount of fixed assets and in other cases transferred to revenue accounts.

viii) Taxation: - Provision for current tax is made on the basis of applicable Income Tax Provisions for the current accounting period.

No provision is made for deferred tax as depreciation as not been charged by the company during the year.

ix) Borrowing Cost:- Borrowing cost which are directly attributable to the acquisition/construction of fixed assets till the time such assets are ready for use are capitalized as part of the assets. Other borrowing costs are treated as revenue expenditure and charged to profit and loss account for the year.

x) Segment Reporting:- The company has identified its primary reportable segments under AS-17 and necessary disclosure is separately made in notes in accounts. The accounting policies adopted for segment report are in line with the accounting policies of the company with the following additional policies for segment reporting. Revenue and expenses have been identified to a segment on the basis of relationship to operating activities of the segment. Revenue and expenses which relate to enterprise as a whole and are not allocable to a segment on reasonable basis have been disclosed as "Unallocable ". Segment assets and segment liabilities represents assets and liabilities in respective segments. Investments, tax related assets and other assets and liabilities that cannot be allocated to a segment on a reasonable basis have been disclosed as "Unallocable"

xi) Related Party Disclosures:- Related Party Disclosures as per AS-18 issued by ICAI is made and disclosed separately in notes of accounts.

xii) Earning Per Share:- Earning Per Share has been calculated on weighted average of total number of shares as per AS-20 issued by ICAI.

xiii) Impairment of Assets:- The Company has a policy of assessing the impairment of Intangible assets every year in accordance with AS-28as prescribed by ICAI. This is done through comparing its carrying amount as per books of accounts with its recoverable value. Hence no provision is required as per AS-28.

xiv ) Revenue Recognition : Revenue from issue management services loan syndication, financial advisory services etc. is recognized based on the stage of completion of assignments and terms of agreement with the client.

Gain and losses of agreement with securities and derivatives are recognized on trade date.

Dividend income is recognized when right to receive the dividend is established.

Interest income is recognized on the time proportion basis.

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Mar 31, 2013

(i) Revenue Recognition

(a) Revenue from issue management services, loan syndication, financial advisory services etc., is recognized based on the stage of completion of assignments and terms of agreement with the client.

(b) Gains and losses on dealing with securities & derivatives are recognized on trade date.

(ii) Stock-in-trade (i.e. Inventories)

(a) The securities acquired with the intention of holding for short-term are classified as investment and securities acquired for trading are classified as stock- in-trade.

(b) The securities held as stock-in-trade are valued at lower of cost arrived at on weighted average basis or market/ fair value, computed category-wise. In case of investments transferred to stock-in-trade, carrying amount on the date of transfer is considered as cost. Commission earned in respect of securities acquired upon devolvement is reduced from the cost of acquisition. Fair value of unquoted shares is taken at break-up value of shares as per the latest audited Balance Sheet of the concerned company. In case of debt instruments, fair value is worked out on the basis of yield to maturity rate selected considering quotes where available and credit profile of the issuer and market related spreads over the government securities

(c) Discounted instruments like Commercial paper/treasury bills/zero coupon instruments are valued at carrying cost. The difference between the acquisition cost and the redemption value of discounted instruments is apportioned on a straight line basis for the period of holding and recognized as Interest income.

(d) Units of mutual fund are valued at lower of cost and net asset value.

(iii) Investments

The securities acquired with the intention of holding till maturity or for a longer period are classified as investments. (b) Investments are carried at cost arrived at on weighted average basis. Commissions earned in respect of securities acquired upon devolvement are reduced from the cost of acquisition. Appropriate provision is made for other than temporary diminution in the value of investments.

(iv) Fixed Assets and Depreciation

(a) Fixed assets are stated at historical cost less accumulated depreciation and impairment loss, if any. Cost comprises the purchase price and any attributable cost of bringing the asset to its working condition for intended use.

(b) Depreciation on fixed assets is provided on WDM Method at the rate and in the manner prescribed in Schedule XIV of the Companies Act, 1956. But no depreciation for the year ended on 31.03.2013 has been charged as there is no fixed assets of the company.

(v) Deferred Tax

No provisions made as Depreciation has not been charged by the company during the year.

(vi) Derivatives Transactions

(a) All open positions are marked to market.

(b) Gains are recognized only on settlement/expiry of the derivative instruments except for Interest Rate derivatives where even mark to-market gains are recognized.

(c) Receivables/payables on open position are disclosed as current assets/current liabilities, as the case may be.

(vii) Earning Per Share

Basic earnings per share is calculated by dividing the net profit or loss for the period attributable to equity shareholders (after deducting attributable taxes) by the weighted average number of equity shares outstanding during the period.

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Mar 31, 2012

(i) Revenue Recognition

(a) Revenue from issue management services, loan syndication, financial advisory services etc., is recognized based on the stage of completion of assignments and terms of agreement with the client.

(b) Gains and losses on dealing with securities & derivatives are recognized on trade date.

(ii) Stock-in-trade (i.e. Inventories)

(a) The securities acquired with the intention of holding for short-term are classified as investment and securities acquired for trading are classified as stock- in-trade.

(b) The securities held as stock-in-trade are valued at lower of cost arrived at on weighted average basis or market/ fair value, computed category-wise. In case of investments transferred to stock-in-trade, carrying amount on the date of transfer is considered as cost. Commission earned in respect of securities acquired upon devolvement is reduced from the cost of acquisition. Fair value of unquoted shares is taken at break-up value of shares as per the latest audited Balance Sheet of the concerned company. In case of debt instruments, fair value is worked out on the basis of yield to maturity rate selected considering quotes where available and credit profile of the issuer and market related spreads over the government securities

(c) Discounted instruments like Commercial paper/treasury bills/zero coupon instruments are valued at carrying cost. The difference between the acquisition cost and the redemption value of discounted instruments is apportioned on a straight line basis for the period of holding and recognized as Interest income.

(d) Units of mutual fund are valued at lower of cost and net asset value.

(iii) Investments

The securities acquired with the intention of holding till maturity or for a longer period are classified as investments, (b) Investments are carried at cost arrived at on weighted average basis. Commissions earned in respect of securities acquired upon devolvement are reduced from the cost of acquisition. Appropriate provision is made for other than temporary diminution in the value of investments.

(iv) Fixed Assets and Depreciation

(a) Fixed assets are stated at historical cost less accumulated depreciation and impairment loss, if any. Cost comprises the purchase price and any attributable cost of bringing the asset to its working condition for intended use.

(b) Depreciation on fixed assets is provided on WDM Method at the rate and in the manner prescribed in Schedule XIV of the Companies Act, 1956. But no depreciation for the year ended on 31.03.2012 has been charged as there is no fixed assets of the company.

(v) Deferred Tax

No provisions made as Depreciation has not been charged by the company during the year.

(vi) Derivatives Transactions

(a) All open positions are marked to market.

(b) Gains are recognized only on settlement/expiry of the derivative instruments except for Interest Rate derivatives where even mark to-market gains are recognized.

(c) Receivables/payables on open position are disclosed as current assets/current liabilities, as the case may be.

(vii) Earning Per Share

Basic earnings per share is calculated by dividing the net profit or loss for the period attributable to equity shareholders (after deducting attributable taxes) by the weighted average number of equity shares outstanding during the period.

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Mar 31, 2010

(i) Revenue Recognition

(a) Revenue from issue management services, loan syndication, financial advisory services etc., is recognized based on the stage of completion of assignments and terms of agreement with the client.

(b) Gains and losses on dealing with securities & derivatives are recognized on trade date.

(ii) Stock-in-trade (i.e. Inventories)

(a) The securities acquired with the intention of holding for short-term are classified as investment and securities acquired for trading are classified as stock- in-trade.

(b) The securities held as stock-in-trade are valued at lower of cost arrived at on weighted average basis or market/ fair value, computed category-wise. In case of investments transferred to stock-in-trade, carrying amount on the date of transfer is considered as cost. Commission earned in respect of securities acquired upon devolvement is reduced from the cost of acquisition. Fair value of unquoted shares is taken at break-up value of shares as per the latest audited Balance Sheet of the concerned company. In case of debt instruments, fair value is worked out on the basis of yield to maturity rate selected considering quotes where available and credit profile of the issuer and market related spreads over the government securities

(c) Discounted instruments like Commercial paper/treasury bills/zero coupon instruments are valued at carrying cost. The difference between the acquisition cost and the redemption value of discounted instruments is apportioned on a straight line basis for the period of holding and recognized as Interest income.

(d) Units of mutual fund are valued at lower of cost and net asset value.

(ill) Investments

The securities acquired with the intention of holding till maturity or for a longer period are classified as investments, (b) Investments are carried at cost arrived at on weighted average basis. Commissions earned in respect of securities acquired upon devolvement are reduced from the cost of acquisition. Appropriate provision is made for other than temporary diminution in the value of investments.

(iv) Fixed Assets and Depreciation

(a) Fixed assets are stated at historical cost less accumulated depreciation and impairment loss, if any. Cost comprises the purchase price and any attributable cost of bringing the asset to its working condition for intended use.

(b) Depreciation on fixed assets is provided on WDM Method at the rate and in the manner prescribed in Schedule XIV of the Companies Act, 1956.But no depreciation for the year ended on 31.03.2010 has been charged.

(v) Deferred Tax

No provisions made as Depreciation has not been charged by the company during the year.

(vi) Derivatives Transactions

(a) All open positions are marked to market.

(b) Gains are recognized only on settlement/expiry of the derivative instruments except for Interest Rate derivatives where even mark to-market gains are recognized.

(c) Receivables/payables on open position are disclosed as current liabilities, as the case may be.


Basic earnings per share is calculated by dividing the net profit or loss for the period attributable to equity shareholders (after deducting attributable taxes) by the weighted average number of equity shares outstanding during the period.