ESCORTS MUTUAL FUND                    
 ESCORTS INCOME PLAN                    
 BALANCE SHEET AS AT MARCH 31, 2010                    
                     
    SCHEDULE   AS AT     AS AT      
        MARCH 31, 2010     MARCH 31, 2009      
             ( Rs. )          ( Rs. )      
                     
LIABILITIES                    
                     
Unit Capital   1              17,965,576                   23,583,571      
Reserves and Surplus   2              23,469,432                   30,075,869      
Current Liabilities and Provisions   3                   575,106                        533,146      
         -----------------      -----------------      
Total                  42,010,114                   54,192,586      
         -----------------      -----------------      
                     
ASSETS                    
                     
Investments   4              38,204,309                   50,520,030      
Other Current Assets   5                3,805,805                     3,672,556      
         -----------------      -----------------      
Total                  42,010,114                   54,192,586      
        -----------------     -----------------      
RECONCILIATION TO NET ASSET VALUE PER UNIT :                      
                     
    DIVIDEND                               OPTION GROWTH                            OPTION BONUS                                            OPTION DIVIDEND                               OPTION GROWTH                            OPTION BONUS                                            OPTION      
    (Rs.) (Rs.) (Rs.) (Rs.) (Rs.) (Rs.)      
                     
Net Asset Value as per Balance Sheet            3,517,217        31,959,887              5,957,903            3,666,733         44,352,745                 5,639,962      
                     
                     
Net Asset Value            3,517,217        31,959,887              5,957,903 3,666,733 44,352,745                 5,639,962      
                     
Number of Units               315,391          1,093,888                 387,279 330,112 1,633,711                    394,534      
                       
Net Asset Value per Unit               11.1519             29.2168                 15.3840               11.1075              27.1485                    14.2952      
                     
                     
Significant Accounting Policies & Notes to the Accounts   9                
The Schedules referred to above form                     
an integral part of the Revenue Account                    
                     
As per our report of even date                    
                     
For S.N. DHAWAN & CO. For ESCORTS MUTUAL FUND     For ESCORTS ASSET MANAGEMENT LTD.      
Chartered Accountants (TRUSTEE: ESCORTS INVESTMENT TRUST LTD.)              
Regn. No. 000050N                    
                     
                     
( SURESH SETH ) (RAJAN NANDA)       (LALIT K. KHANNA)        
PARTNER CHAIRMAN       DIRECTOR          
MEMBERSHIP NO - 10577                    
                     
  (DR. RAKESH KHURANA)     (S.C. KUCHHAL)        
  DIRECTOR       DIRECTOR          
                     
                     
                     
                     
                     
                     
PLACE : NEW DELHI                    
DATE  :                     
                   
                   
                   
  DI. OPT. GR.OPT. BON.OPT.              
  (Rs.) (Rs.) (Rs.)              
                     
NAV As on 31-3-2010                                         11.1480                      29.2065 15.3786              
                     
Units As on 31-3-2010                                    315,391.01              1,093,887.79                 387,278.79                   1,796,557.59           17,965,575.92          
                                           -            
Net Assets                                 3,515,979.00            31,948,633.77              5,955,805.58                 41,420,418.35            
                     
PerCentage of Net Assets                                               8.49                          77.13                          14.38