ESCORTS MUTUAL FUND

SCHEDULE FORMING PART OF THE ACCOUNTS

SCHEDULE 1

SIGNIFICANT ACCOUNTING POLICIES AND NOTES TO THE ACCOUNTS

1.         NOTES TO THE ACCOUNTS

(1.1)Escorts Mutual Fund is a Trust established under the provisions of the Indian Trusts

Act, 1882 and registered under the provisions of the Indian Registration Act, 1908    with Escorts Finance Limited as the Settlor (Sponsor) of the Trust and Escorts Investment Trust Limited as the sole Trustee. The Trust has been settled by the Settlor with an initial contribution of Rs. 1,00,000/-. The Trustee has appointed Escorts Asset Management Limited as the Asset Management Company of Escorts Mutual Fund.

 for Escorts Mutual Fund                                    for Escorts Asset Management Limited

(Trustee: Escorts Investments Trust Limited)

(RAJAN NANDA)                                                                              

CHAIRMAN                                                                     DIRECTOR

DIRECTOR                                                                       DIRECTOR

Per our report of even date

For S.N. DHAWAN & Co.

Chartered Accountants

(SURESH SETH)

 PARTNER

MEMBER SHIP NO - 10577

 PLACE: NEW DELHI

 DATE: