Notes to Accounts of Swastik Safe Deposit & Investments Ltd.

Mar 31, 2014

1. Terms / rights attached to equity share:

The company has only one class of equity shares having par value of Rs.10 per share. Each holder of equity shares is entitled to one vote of shares.

In the event of the liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholder.

2. Deferred tax Liability

The company has been advised that as there is no tax effect of timing difference based on the estimated computation for a reasonable period, there is no provision for deferred tax in terms of Accounting Standard (AS 22) on "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India.

3. Related Party Disclosures

Holding Company: Piramal Corporate Services Limited*

Associate Alpex Power Private Limited*

Piramal Water Private Limited*

Key Management Personnel: Ms. Nandini Piramal*

* There are no transactions during the year with the above parties.

4. Contingent Liability:

In the opinion of the management there is no contingent liability in respect of Income Tax and adequate provision have been made for all known liabilities.

5. Previous year figures have been regrouped and recasted wherever necessary to confirm to current year''s classification.

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Mar 31, 2013

1 Deferred tax Liability

The company has been advised that as there is no tax effect of timing difference based on the estimated computation for a reasonable period, there is no provision for deferred tax in terms of Accounting Standard (AS 22) on "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India.

2 Related Party Disclosures

Holding Company: Piramal Corporate Services Limited*

Associate Alpex Power Private Limited*

Piramal Water Private Limited*

Key Management Personnel: Ms. Nandini A Piramal*

There are no transactions during the year with the above parties.

3 Contingent Liability:

In the opinion of the management there is no contingent liability in respect of Income Tax and adequate provision have been made for all known liabilities.

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Mar 31, 2010

1.Contingent Liability:

Disputed Income Tax demands for Penalty matter for Assessment Year 2004-05 Rs. 33 Lacs. The company has preferred appeal against all the above order.

2.As the Company is not a manufacturing company, the information required under clause AC of art II of Schedule VI of the Companies Act, 1956 has not been given.

3.The company has been advised that as there is no tax effect of timing difference based on the timated computation for a reasonable period, there is no provision for deferred tax in terms of :counting Standard (AS 22) on "Accounting for Taxes on Income" issued by the Institute of Chartered acountants of India.

4.The company has not received information from vendor regarding there status under the Micro Small Medium terprises Develoment Act, 2006 and hence disclosure relating to amounts unpaid at the year end together the interest paid or payable under this act have not been given .

5.figures for the previous year are regrouped or rearranged wherever necessary.

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Mar 31, 2009

1 Piramal Life Sciences Ltd. Has been listed on Bombay Stock Exchange & National Stock Exchange w.e. f. May 29, 2008. Comsequently,the Investment in PLSL have been regrouped accordingly.

2 Contingent Liability:

Disputed Income Tax demands for Penalty matter for Assessment Year 2001-02 Rs.260.17 Lacs & for A.Y. 2004-05 Rs. 33 Lacs .The company has preferred appeal against all the above orders.

3 As the Company is not a manufacturing company, the information required under clause 4C of Part II of Schedule VI of the Companies Act, 1956 has not been given.