As
per Regulations contained in the First Schedule of the Insurance
Act, 1938 as amended as per Section 40-C of the said Act,
we certify that:
1. The values of investments in shares and debentures have
been taken at cost and the quoted value thereof mentioned
wherever available.
2.
The Values of all assets as shown in the Balance Sheet and
as classified on Form "AA" annexed have been duly
reviewed as at 31st December 2004 and in our belief, the
said assets have been setforth in the Balance Sheet at amounts
not exceeding their realisable or market values under the
several headings as enumerated in the annexed form.
3. All
expenses of management, wherever incurred and whether incurred
directly or indirectly in respect of Fire, Marine, Motor
and Miscellaneous Insurance Business have been duly debited
to the related Revenue Accounts and Profit & Loss Account.
