2 SIGNIFICANT ACCOUNTING POLICIES
Statement of Compliance
The Financial Statements of the Company have been prepared in accordance with Indian Accounting Standards ( Ind AS)
notified under the Companies ( Indian Accounting Standards ) Rules,2015 and in accordance with the accounting standards
notified under the section 133 of the Companies Act 2013, read with together with rule 7 of the Companies (Accounts) Rules
2014.
A. Optional Exemption:
Deemed cost for property, plant and equipment and intangible assets
The Company has elected to continue with the carrying value determined in accordance the normally accecpted accounting
principal for all of its property, plant and equipment and intangibile assets recognised as of 1st April, 2016 (transition date)
and use that carrying value as deemed cost of such assets as of transition date.
B. Mandatory Exceptions:
Use of Estimate
On assessment of the estimates made under the normally accecpted accounting principal financial statements, the
Company has concluded that there is no necessity to revise the estimates under Ind AS, as there is no objective evidence
of an error in those estimates.
Impairment of Investment in Subsidary
The Company reviews its carrying value of investments carried at amortised cost annually, or more frequently when there is
indication for impairment. If the recoverable amount is less than its carrying amount, the impairment loss is accounted for.
2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS
The Financial Statements have been prepared under historical cost basis, except for certain financial assets which are
measured at fair value or amortised cost at the end of each reporting period, as explained in the accounting policies below.
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