11. Provisions and Contingent Liabilities
A provision is recognized if, as a result of a past event, the Company has a present legal obligation that is reasonably estimable, 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 likely future 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.
12. Cash & Cash Equivalents
Cash and cash equivalents comprise cash and cash on deposit with banks. The Company considers all highly liquid investments with a remaining maturity at the date of purchase of
three months or less and that are readily convertible to known amounts of cash to be cash equivalents.
13. Segment Reporting
Company is operating under a single segment.
14. Investments
Investments are classified into Long Term Investments and Current Investments. Long Term Investments are valued at cost less any permanent diminution in the value thereof, if any. Current Investments are valued at lower of the cost and market value.
NOTE 36 PREVIOUS TEAR'S FIGURES
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Memfcerthi p Hu: 148601 Mnutim Director Director A CFO Company Surelnry
Place: Thane MN: 01903150 DIN: 0694*326 Membership No: A59546
Defer 25/0571024
UDIW: 2414B601BMEJFZ3306_
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