| Disclosure of accounting policies, change in accounting policies and changes in estimates explanatory 1.1 The financial statements have been brpared in accordance with Generally accepted Accounting Principles in India (Indian GAAP) to comply with the Accounting Standards specified under Section 133 of the Companies Act, 2013 read with Rule 7 of the Companies (Accounts) Rules, 214 and the relevant provisions of the Companies Act, 2013, as applicable.
1.2 The financial statements have been brpared on the basis of historical cost convention, and on the accounting principle of a going concern.
1.3 The company follows mercantile system of accounting and recognizes income and expenditure on accrual basis except those with significant uncertainties. Disclosure of employee benefits explanatoryContribution to defined contribution schemes such as Provident fund, ESIC etc. are charged to the statement of Profit & Loss as incurred. Provision for Gratuity has also been made by the company on the basis of actuaries valuation report. |
