Notes to Accounts of Bervin Investment & Leasing Ltd.

Mar 31, 2015

1. NETCURRENTASSETS VALUATION

In the opinion of the Board of Directors, the Current Assets, Loans and Advances, are approximately of the value stated or realized, in the ordinary course of the business.

2. AM0RT0ZATI0N

No expenditure is treated at deferred revenue.

3. The provision for all liabilities is adequate and not in excess of the amount reasonably necessary. There is no contingent liability other than those stated in accounts.

4. Income Tax Assessments of the company have been completed upto A.Y. 2013-14. The company has filed appeal for A.Y. 1996-97 with the Hon'ble High Court of Mumbai, against the decision of appellate authorities. Adjustment on account of relief, if any granted by the Court of Law, will be made in the year, in which relief is granted.

5. RESERVE BANK DIRECTIVE

The company has not accepted any deposits from the public and hence provisions of Non- Banking Financial Companies (Reserve Bank) Directions 1977 are not applicable.

6. EARNING PER SHARE

The earnings considered in ascertaining the Company's Earning per Share (EPS) comprise the net profit after tax. The number of shares used in computing basic EPS is the weighted average number of shares outstanding during the year. The diluted EPS is calculated on the same basis as basic EPS.

7. Provision for gratuity has not been made, as we have been informed by the management that the provisions of Payment of Gratuity Act are not applicable.

8. ADDITIONAL INFORMATION

Pursuant to the provisions of paragraph 4-C of Part - II of the Schedule VI of the Companies Act, 1956, it is not given as the company has not undertaken any manufacturing activities in the year or in the previous year and the same is not applicable.

9. Previous year figures have been regrouped, wherever necessary to make them comparable with this year.

10. TAXATION

Current Tax is determined in accordance with provisions of the Income Tax Act, 1961, as the amount of tax payable to the taxation authorities in respect of taxable income for the year.

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Mar 31, 2014

1. i. The Company has only one class of shares referred to as equity shares having a par value of Rs. 10/- each. Each Holder of equity share is entitled to vote.

ii. Reconciliation of the number of shares and amount outstanding at the beginning and at the end of the reporting period.

iii. There are no rights, preferences and restrictions attached to any share.

iv. Details of shares held by each shareholder holding more than 5% shares

2. NET CURRENT ASSETS VALUATION

In the opinion of the Board of Directors, the Current Assets, Loans and Advances, are approximately of the value stated or realized, in the ordinary course of the business.

3. AMORTOZATION

No expenditure is treated at deferred revenue.

4. The provision for all liabilities is adequate and not in excess of the amount reasonably necessary. There is no contingent liability other than those stated in accounts.

5. Income Tax Assessments of the company have been completed upto A.Y. 2012-13. The company has filed appeal for A.Y. 1996-97 with the Hon''ble High Court of Mumbai, against the decision of appellate authorities. Adjustment on account of relief, if any granted by the Court of Law, will be made in the year, in which relief is granted.

6. RESERVE BANK DIRECTIVE

The company has not accepted any deposits from the public and hence provisions of Non- Banking Financial Companies (Reserve Bank) Directions 1977 are not applicable.

7. EARNING PER SHARE

The earnings considered in ascertaining the Company''s Earning per Share (EPS) comprise the net profit after tax. The number of shares used in computing basic EPS is the weighted average number of shares outstanding during the year. The diluted EPS is calculated on the same basis as basic EPS.

8. Provision for gratuity has not been made, as we have been informed by the management that the provisions of Payment of Gratuity Act are not applicable.

9. ADDITIONAL INFORMATION

Pursuant to the provisions of paragraph 4-C of Part - II of the Schedule VI of the Companies Act, 1956, it is not given as the company has not undertaken any manufacturing activities in the year or in the previous year and the same is not applicable.

10. Previous year figures have been regrouped, wherever necessary to make them comparable with this year.

11. TAXATION

Current Tax is determined in accordance with provisions of the Income Tax Act, 1961, as the amount of tax payable to the taxation authorities in respect of taxable income for the year.

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Mar 31, 2013

1. NET CURRENT ASSETS VALUATION

In the opinion of the Board of Directors, the Current Assets, Loans and Advances, are approximately of the value stated or realized, in the ordinary course of the business.

2. AMORTOZATION

No expenditure is treated at deferred revenue.

3. The provision for all liabilities is adequate and not in excess of the amount reasonably necessary. There is no contingent liability other than those stated in accounts.

4. Income Tax Assessments of the company have been completed upto A.Y. 2011-12. The company has filed appeals for A.Y. 1996-97 with the Hon''ble High Court of Mumbai, against the decision of appellate authorities. Adjustment on account of relief, if any granted by the Court of Law, will be made in the year, in which relief is granted.

5. RESERVE BANK DIRECTIVE

The company has not accepted any deposits from the public and hence provisions of Non- Banking Financial Companies (Reserve Bank) Directions 1977 are not applicable.

6. EARNING PER SHARE

The earnings considered in ascertaining the Company''s Earning per Share (EPS) comprise the net profit after tax. The number of shares used in computing basic EPS is the weighted average number of shares outstanding during the year. The diluted EPS is calculated on the same basis as basic EPS.

7. Provision for gratuity has not been made, as we have been informed by the management that the provisions of Payment of Gratuity Act are not applicable.

8. ADDITIONAL INFORMATION

Pursuant to the provisions of paragraph 4-C of Part - II of the Schedule VI of the Companies Act, 1956, it is not given as the company has not undertaken any manufacturing activities in the year or in the previous year and the same is not applicable.

9. Previous year figures have been regrouped, wherever necessary to make them comparable with this year.

10. TAXATION

Current Tax is determined in accordance with provisions of the Income Tax Act, 1961, as the amount of tax payable to the taxation authorities in respect of taxable income for the year.

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Mar 31, 2012

1. NET CURRENT ASSETS VALUATION

In the opinion of the Board of Directors, the Current Assets, Loans and Advances, are approximately of the value stated or realized, in the ordinary course of the business.

2. AMORTOZATION

No expenditure is treated at deferred revenue.

3. The provision for all liabilities is adequate and not in excess of the amount reasonably necessary. There is no contingent liability other than those stated in accounts.

4. Income Tax Assessments of the company have been completed upto A.Y. 2010-11. The company has filed appeals for A.Y. 1996-97 with the Hon'ble High Court of Mumbai, against the decision of appellate authorities, Adjustment on account of relief, if any granted by the Court of Law, will be made in the year, in which relief is granted.

5. RESERVE BANK DIRECTIVE

The company has not accepted any deposits from the public and hence provisions of Non- Banking Financial Companies (Reserve Bank) Directions 1977 are not applicable.

6. EARNING PER SHARE

The earnings considered in ascertaining the Company's Earnings per Share (EPS) comprise the net profit after tax. The number of shares used in computing basic EPS is the weighted average number of shares outstanding during the year. The diluted EPS is calculated on the same basis as basic EPS.

7. Provision for gratuity has not been made, as we have been informed by the management that the provisions of Payment of Gratuity Act are not applicable.

8. ADDITIONAL INFORMATION

Pursuant to the provisions of paragraph 4-C of Part ~ II of the Schedule VI of the Companies Act, 1956, it is not given as the company has not undertaken any manufacturing activities in the year or in the previous year and the same is not applicable.

9. Previous year figures have been regrouped, wherever necessary to make them comparable with this year.

10. TAXATION

Current Tax is determined in accordance with provisions of the Income Tax Act, 1961, as the amount of tax payable to the taxation authorities in respect of taxable income for the year.

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Mar 31, 2011

1. NET CURRENT ASSETS VALUATION

In the opinion of the Board of Directors, the Current Assets, Loans and Advances, are approximately of the value stated or realized, in the ordinary course of the business.

BERVIN INVESTMENT & LEASING LIMITED, NEW DELHI

2. AMQRTOZATION

No expenditure is treated at deferred revenue,

3. The provision for all liabilities is adequate and not in excess of the amount reasonably necessary. There is no contingent liability other than those stated in accounts.

4. Income Tax Assessments of the company have been completed upto A.Y. 2009-10. The company has fifed appeals for A.Y, 1996-97 with the Honble High Court of Mumbai, against the decision of appellate authorities. Adjustment on account of relief, if any granted by the Court of Law, will be made in the year, in which relief is granted.

5. RESERVE BANK DIRECTIVE

The company has not accepted any deposits from the public and hence provisions of Non- Banking Financial Companies (Reserve Bank) Directions 1977 are not applicable.

6. EARNING PER SHARE

The earnings considered in ascertaining the Companys Earning per Share (EPS) comprise the net profit after tax. The number of shares used in computing basic EPS is the weighted average number of shares outstanding during the year. The diluted EPS is calculated on the same basis as basic EPS.

7. Provision for gratuity has not been made, as we have been informed by the management that the provisions of Payment of Gratuity Act are not applicable.

8. ADDITIONAL INFORMATION

Pursuant to the provisions of paragraph 4-C of Part - II of the Schedule VI of the Companies Act, 1956, it is not given as the company has not undertaken any manufacturing activities in the year or in the previous year and the same is not applicable.

9. Previous year figures have been regrouped, wherever necessary to make them comparable with this year.

10. TAXATION

10.1 Keeping in view of losses incurred by the company during the year, provision for taxation has not been made.

10.2 Current Tax is determined in accordance with provisions of the Income Tax Act, 1961, as the amount of tax payable to the taxation authorities in respect of taxable income for the year.

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Mar 31, 2010

1. NET CURRENT ASSETS VALUATION

In the opinion of the Board of Directors, the Current Assets, Loans and Advances, are approximately of the value stated or realized, in the ordinary course of the business.

2. AMORTOZATION

No expenditure is treated at deferred revenue.

3. The provision for all liabilities is adequate and not in excess of the amount reasonably necessary. There is no contingent liability other than those stated in accounts.

4. Income Tax Assessments of the company have been completed upto A.Y. 2008-09. The company has filed appeals for A.Y. 1996-97 with the Honble High Court of Mumbai, against the decision of appellate authorities. Adjustment on account of relief, if any granted by the Court of Law, will be made in the year, in which relief is granted.

5. RESERVE BANK DIRECTIVE

The company has not accepted any deposits from the public and hence provisions of Non-Banking Financial Companies (Reserve Bank) Directions 1977 are not applicable.

6. EARNING PER SHARE

The earnings considered in ascertaining the Companys Earning per Share (EPS) comprise the net profit after tax. The number of shares used in computing basic EPS is the weighted average number of shares outstanding during the year. The diluted EPS is calculated on the same basis as basic EPS.

7. Provision for gratuity has not been made, as we have been informed by the management that the provisions of Payment of Gratuity Act are not applicable.

8. ADDITIONAL INFORMATION

Pursuant to the provisions of paragraph 4-C of Part - II of the Schedule VI of the Companies Act, 1956, it is not given as the company has not undertaken any manufacturing activities in the year or in the previous year and the same is not applicable

9. Previous year figures have been regrouped, wherever necessary to make them comparable with this year.

10. TAXATION

10.1 Keeping in view of losses incurred by the company during the year, provision for taxation has not been made.

10.2 Current Tax is determined in accordance with provisions of the Income Tax Act, 1961, as the amount of tax payable to the taxation authorities in respect of taxable income for the year.