2. Significant Accounting Policies
2.1 Basis of preparation of financial statements
These financial statements are prepared in accordance with Indian Accounting Standards (Ind AS) and presentation requirement of Division II of Schedule III of the Companies Act 2013, under the historical cost convention on the accrual basis except for certain financial instruments which are measured at fair values, the provisions of the Companies Act , 2013 ('the ActO (to the extent notified) 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 (as amended from time to time).
Accounting policies have been consistently applied except where a newly issued Indian accounting standard is initially adopted or a revision to an existing accounting standard requires a change in the accounting policy hitherto in use. The Standalone Financials Statement are presented in Indian Rupees and all values are rounded to the nearest lacs, except when otherwise indicated.
2.2 Use of estimates
The preparation of the financial statements in conformity with IND AS requires management to make estimates, judgments and assumptions. These estimates, judgments and assumptions affect the application of accounting policies and the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the period. Appropriate changes in estimates are made as management becomes aware of changes in circumstances surrounding the estimates. Changes in estimates are reflected in the financial statements in the period in which changes are made and, if material, their effects are disclosed in the notes to the financial statements.
2.2.1 Impairment of Investments:
The determination of impairment on investments requires the use of estimates and assumptions. Management exercises judgment in assessing whether there are indicators of impairment and in estimating the recoverable amount of the investments.
2.2.2 Valuation of deferred tax assets / liabilities/MAT Credit
The company reviews the carrying amount of deferred tax assets / liabilities at the end of each reporting period.
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