Significant Accounting Policies:

A. Basis of Accounting:

The financial statements have been prepared under the historical cost convention, on accrual basis, in accordance with the applicable Accounting Standards referred to under section 133

of the companies act 2013 read with rule 7 of the companies ( Accounts ) rules 2014.

B. Borrowing Cost :

Fixed asset which necessarily takes substantial period of time to get ready for its intended use is qualifying asset, Borrowing costs that are attributable to the acquisition or construction of such qualifying assets are capitalised as part of the cost of such assets. All other borrowing costs are recognized as expense in the period in which they are incurred.

C Use of Estimates :

The presentation of financial statements requires certain estimates and assumptions.These estimates and assumptions affect the reported amounts of assets and liabilities on the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.Differences between the actual result and estimates are recognized in the period in which the results are known / materialized.

D Provisions. Contingent Liabilities and Contingent Assets

Provision involving substrantial degree of estimation in measurement are recognized when there is a present obligation as a result of past events and that probability requires an outflow of resources.

A disclosure for a contingent liability is 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 in respect of which the likelihood of outflow of resources is remote, no disclosure is made.

Contingent assets are neither recognised nor disclosed in financial statements.

E Financial instruments

An entity recognizes a financial asset or liability in its financial statement when it becomes a party to the contractual provisions of the instrument and financial liabilities are recognised initially at fair value and subsequently measured at amortised cost.