MIRA INFORM REPORT

Report Date :

23.11.2011

IDENTIFICATION DETAILS

Name :	TATA SONS LIMITED
Registered Office :	Bombay House 24, Homi Mody Street, Mumbai – 400001, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	08.11.1917
Com. Reg. No.:	11-000478
Capital Investment / Paid-up Capital :	Rs.42429.100 Millions
CIN No.: [Company Identification No.]	U99999MH1917PLC000478
TAN No.: [Tax Deduction & Collection Account No.]	MUMT07803F
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject undertakes Investment, Finance, Computer Consultancy, New Projects, Project Consultancy, Market Research and Surveys. It also undertakes Property Development.
No. of Employees :	11000 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Aa (81)

RATING		STATUS	PROPOSED CREDIT LINE
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large

Maximum Credit Limit :	USD 926000000
Status :	Excellent
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established and reputed company of Tata Group, Country’s premier Industrial House. Subject is doing exceedingly well. Its trade relations are fair. Payments are always correct and as per commitments. Subject can be considered good for business dealings at usual trade terms and conditions. Subject’s credit worthiness is very high.

NOTES : Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

INFORMATION DECLINED BY

Name :	Mr. Kapadia
Designation :	Vice President - Finance
Contact No.:	91-22-66657381
Date :	22.11.2011

LOCATIONS

Registered Office :	Bombay House No. 24, East Entrance, Opposite Nanavati Mahalaya, Homi Mody Street, Fort, Mumbai – 400 001, Maharashtra, India
Tel. No.:	91-22-22049131 / 22821266 / 66658282
Fax No.:	91-22-22048187 / 66658080
E-Mail :	fnsubedar@tata.com kvmanoj@tata.com info@tata.com tcs_corpoffice@mumbai.tcs.co.in tatasons@tata.com kvmanoj@tata.com
Website :	http://www.tata.com http://www.tcs.com
Corporate Office :	Air India Building, 11^th Floor, Nariman Point, Mumbai – 400 021, Maharashtra, India
Tel. No.:	91-22-22022427
Fax No.:	91-22-22040711
E-Mail :	tcs_corpoffice@mumbai.tcs.co.in
Branches :	Located at : Bangalore, Karnataka Delhi Noida, Uttar Pradesh Chennai, Tamilnadu Pune, Maharashtra Secunderabad, Andhra Pradesh Ahmedabad, Gujarat Lucknow, Uttar Pradesh Thiruvananthapuram, Kerala Kolkata, West Bengal Chandigarh Jamshedpur, Jharkhand Kochi, Kerala
Marketing Offices :	Located at : USA Canada UK Europe Japan West Asia South East Asia South Africa Malaysia Singapore Hong Kong

DIRECTORS

As on : 29.07.2011

Name :

Mr. Ratan Naval Tata

Designation :

Chairman

Address :

Flat 12, Bakhtawar, Opposite Colaba Post Office, Colaba, Mumbai – 400005, Maharashtra, India

Date of Birth/Age :

28.12.1937

Date of Appointment :

21.08.1974

Email:

coffice@tata.com

Election Commission ID No :

MT/04/019/060249

DIN No :

00000001

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U99999MH1917PLC000478	TATA SONS LIMITED	Director	21/08/1974	21/08/1974	-	Active	NO
2	L27100MH1907PLC000260	TATA STEEL LIMITED	Director	17/08/1977	17/08/1977	-	Active	NO
3	L17120MH1879PLC000037	THE BOMBAY DYEING AND MANUFACTURING COMPANY LIMITED	Director	1/8/1979	1/8/1979	-	Active	NO
4	L28920MH1945PLC004520	TATA MOTORS LIMITED	Director	14/08/1981	14/08/1981	-	Active	NO
5	U44003MH1945PLC004403	TATA INDUSTRIES LIMITED	Director	6/9/1981	6/9/1981	-	Active	NO
6	L24239MH1939PLC002893	TATA CHEMICALS LIMITED	Director	11/4/1983	11/4/1983	-	Active	NO
7	L74999MH1902PLC000183	THE INDIAN HOTELS COMPANY LIMITED	Director	9/1/1984	9/1/1984	-	Active	NO
8	L28920MH1919PLC000567	THE TATA POWER COMPANY LIMITED	Director	18/05/1989	18/05/1989	-	Active	NO
9	L15491WB1962PLC031425	TATA GLOBAL BEVERAGES LIMITED	Director	18/01/1991	18/01/1991	-	Active	NO
10	U85110KA1992PLC013570	ANTRIX CORPORATION LIMITED	Director	27/11/1992	27/11/1992	-	Active	NO
11	U34100MH1995PLC093733	TATA AUTOCOMP SYSTEMS LIMITED	Director	29/05/1997	29/05/1997	26/09/2008	Active	NO
12	L22210MH1995PLC084781	TATA CONSULTANCY SERVICES LIMITED	Director	5/5/2004	5/5/2004	-	Active	NO
13	U74899DL1995PLC066685	TATA TELESERVICES LIMITED	Nominee director	18/10/2005	18/10/2005	-	Active	NO
14	L64200MH1995PLC086354	TATA TELESERVICES (MAHARASHTRA) LIMITED	Director	10/8/2006	18/10/2005	23/03/2009	Active	NO
15	U35301KA1963GOI001622	HINDUSTAN AERONAUTICS LIMITED	Director	23/02/2006	23/02/2006	22/02/2009	Active	NO
16	U74990MH2009PTC190764	RNT ASSOCIATES PRIVATE LIMITED	Director	5/3/2009	5/3/2009	-	Active	NO

Name :

Mr. Arunkumar Ramanlal Gandhi

Designation :

Director

Address :

Akruti Astha, 9^th Floor, 23 Doongersey Road, Mumbai – 400 006, Maharashtra, India

Date of Birth/Age :

15.03.1943

Date of Appointment :

18.08.2003

Election Commission ID No :

MT/04/024/183220

DIN No :

00007597

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U74999MH1984PTC033786	RAYCHEM-RPG PRIVATE LIMITED	Director	18/08/1984	18/08/1984	20/03/2008	Active	NO
2	L85910GJ1974PLC002595	SIEMENS HEALTHCARE DIAGNOSTICS LIMITED	Director	31/05/1989	31/05/1989	23/06/2007	Amalgamated	NO
3	L55101UP1971PLC003480	BENARES HOTELS LIMITED	Director	28/05/1999	28/05/1999	-	Active	NO
4	L21011MH1950FLC145537	THE PAPER PRODUCTS LIMITED	Director	30/03/2002	30/03/2002	-	Active	NO
5	U99999MH1917PLC000478	TATA SONS LIMITED	Director	27/07/2009	18/08/2003	-	Active	NO
6	U65990MH1994PLC077090	TATA ASSET MANAGEMENT LIMITED	Director	1/12/2004	1/12/2004	-	Active	NO
7	U64200AP1995PLC044060	TATA BUSINESS SUPPORT SERVICES LIMITED	Director	14/01/2005	14/01/2005	-	Active	NO
8	L64200MH1995PLC086354	TATA TELESERVICES (MAHARASHTRA) LIMITED	Director	10/8/2006	10/8/2006	23/03/2009	Active	NO
9	L15491WB1962PLC031425	TATA GLOBAL BEVERAGES LIMITED	Director	10/8/2007	1/6/2007	-	Active	NO
10	L64200MH1986PLC039266	TATA COMMUNICATIONS LIMITED	Director	2/8/2008	10/9/2007	-	Active	NO
11	U72200AP2004PLC042926	VIOM NETWORKS LIMITED	Director	11/9/2008	1/11/2007	4/2/2011	Active	NO
12	U55101MH1968PLC013960	PIEM HOTELS LIMITED	Director	28/07/2010	15/02/2010	-	Active	NO
13	U31900MH2005PLC158120	INFINITI RETAIL LIMITED	Director	17/08/2010	25/03/2010	-	Active	NO
14	U99999MH1942PLC003573	TATA HOUSING DEVELOPMENT COMPANY LIMITED	Director	6/9/2011	13/09/2010	-	Active	NO
15	U15500HR2010PLC041616	NOURISHCO BEVERAGES LIMITED	Additional director	14/03/2011	14/03/2011	-	Active	NO

Name :

Mr. Farrokh Kaikhushru Kavarana

Designation :

Director

Address :

CCI Chambers, 5^th Floor, Dinshaw Vachha Road, Mumbai – 400 020, Maharashtra, India

Date of Birth/Age :

17.03.1944

Date of Appointment :

01.02.1991

DIN :

00027689

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U44003MH1945PLC004403	TATA INDUSTRIES LIMITED	Director	1/4/1975	1/4/1975	-	Active	NO
2	U45203AP1979PLC057431	TATA PROJECTS LIMITED	Director	20/02/1979	20/02/1979	-	Active	NO
3	U99999MH1917PLC000478	TATA SONS LIMITED	Director	1/2/1991	1/2/1991	-	Active	NO
4	L74999TZ1984PLC001456	TITAN INDUSTRIES LIMITED	Nominee director	27/01/1993	27/01/1993	31/03/2009	Active	NO
5	L15491WB1962PLC031425	TATA GLOBAL BEVERAGES LIMITED	Director	15/06/1994	15/06/1994	-	Active	NO
6	U91110MH1999NPL122154	CENTRE FOR PROMOTION OF ENTREPRENURSHIP	Director	11/10/1999	11/10/1999	-	Active	NO
7	U85110MH2000PLC128425	TATA AIG GENERAL INSURANCE COMPANY LIMITED	Director	24/08/2000	24/08/2000	-	Active	NO
8	U66010MH2000PLC128403	TATA AIG LIFE INSURANCE COMPANY LIMITED	Director	30/01/2001	30/01/2001	-	Active	NO
9	U24222KA1994PTC024968	AKZO NOBEL COATINGS INDIA PRIVATE LIMITED	Director	1/10/2001	1/10/2001	17/12/2010	Active	NO
10	U65990MH1994PLC077090	TATA ASSET MANAGEMENT LIMITED	Director	6/8/2009	29/03/2002	-	Active	NO
11	U64200MH2000PLC129407	SITEL INDIA LIMITED	Director	17/12/2002	17/12/2002	11/4/2007	Active	NO
12	U70100MH1990PTC057554	SIKA PROPERTIES PRIVATE LIMITED	Director	20/12/2002	20/12/2002	-	Active	NO
13	L24240MH1952PLC008951	TRENT LIMITED	Director	30/10/2006	1/11/2004	-	Active	NO
14	U74899DL1995PLC073520	TRENT BRANDS LIMITED	Director	28/09/2007	14/11/2006	28/04/2010	Active	NO
15	L65990MH1991PLC060670	TATA CAPITAL LIMITED	Director	17/07/2007	13/04/2007	-	Active	NO
16	U67100MH2010PLC210201	TATA CAPITAL FINANCIAL SERVICES LIMITED	Director	5/9/2011	26/03/2011	-	Active	NO

Name :

Mr. Ishaat Hussain

Designation :

Whole Time Director – Finance

Address :

222-A, 22^nd Floor, NCPA Apartments, Tata Road, Nariman Point, Mumbai – 400 021, Maharashtra, India

Date of Birth/Age :

02.09.1947

Date of Appointment :

24.11.1998

DIN No :

00027891

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	L74999TZ1984PLC001456	TITAN INDUSTRIES LIMITED	Nominee director	17/07/1989	17/07/1989	-	Active	NO
2	U44003MH1945PLC004403	TATA INDUSTRIES LIMITED	Director	3/4/1998	3/4/1998	-	Active	NO
3	U99999MH1917PLC000478	TATA SONS LIMITED	Whole-time director	1/7/2009	24/11/1998	-	Active	NO
4	L29308MH1954PLC009371	VOLTAS LIMITED	Director	26/04/1999	26/04/1999	-	Active	NO
5	L27100MH1907PLC000260	TATA STEEL LIMITED	Director	15/07/1999	15/07/1999	-	Active	NO
6	U74899DL1995PLC066685	TATA TELESERVICES LIMITED	Nominee director	29/09/1999	29/09/1999	-	Active	NO
7	U65991MH1995PLC087722	TATA TRUSTEE COMPANY LIMITED	Director	16/06/2000	16/06/2000	17/03/2011	Active	NO
8	U66010MH2000PLC128403	TATA AIG LIFE INSURANCE COMPANY LIMITED	Director	23/08/2000	23/08/2000	-	Active	NO
9	U85110MH2000PLC128425	TATA AIG GENERAL INSURANCE COMPANY LIMITED	Nominee director	24/08/2000	24/08/2000	-	Active	NO
10	L72200AP1975PLC001970	CMC LIMITED	Director	16/10/2001	16/10/2001	4/1/2010	Active	NO
11	L64200MH1986PLC039266	TATA COMMUNICATIONS LIMITED	Director	1/7/2002	1/7/2002	26/06/2007	Active	NO
12	U72200TN2003PTC050510	SPEECH AND SOFTWARE TECHNOLOGIES (INDIA) PRIVATE LIMITED	Director	13/03/2003	13/03/2003	-	Active	NO
13	U92120MH2001PLC130365	TATA SKY LIMITED	Director	6/2/2004	6/2/2004	-	Active	NO
14	U26921OR1958PLC000349	TRL KROSAKI REFRACTORIES LIMITED	Director	2/3/2005	2/3/2005	26/09/2011	Active	NO
15	U67120MH2005PLC155188	BSE LIMITED	Director	14/09/2007	9/11/2006	29/05/2010	Active	NO
16	L65990MH1991PLC060670	TATA CAPITAL LIMITED	Director	17/07/2007	13/04/2007	-	Active	NO
17	L99999MH1863PLC000002	BOMBAY BURMAH TRADING CORPORATION LIMITED	Director	30/05/2007	30/05/2007	14/01/2011	Active	NO
18	L22210MH1995PLC084781	TATA CONSULTANCY SERVICES LIMITED	Director	2/7/2010	5/1/2010	-	Active	NO
19	L17120MH1879PLC000037	THE BOMBAY DYEING AND MANUFACTURING COMPANY LIMITED	Director	11/8/2010	1/6/2010	-	Active	NO
20	U72200AP2004PLC042926	VIOM NETWORKS LIMITED	Director	29/09/2011	18/03/2011	-	Active	NO
21	U63013DL2004PLC217305	GO AIRLINES (INDIA) LIMITED	Director	21/06/2011	21/06/2011	-	Active	NO

Name :

Mr. Ramabadran Gopalakrishnan

Designation :

Whole Time Director

Address :

101 Baug E Abbas, Capt Prakash Pethe Marg, 21-A, Cuffe Parade, Mumbai – 400 005, Maharashtra, India

Date of Birth/Age :

25.12.1945

Date of Appointment :

24.11.1998

Election Commission ID No :

HHJ0784694

DIN No :

00027858

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	L24239MH1939PLC002893	TATA CHEMICALS LIMITED	Director	30/10/1998	30/10/1998	-	Active	NO
2	U99999MH1917PLC000478	TATA SONS LIMITED	Director	29/07/2011	24/11/1998	-	Active	NO
3	L28920MH1945PLC004520	TATA MOTORS LIMITED	Director	22/12/1998	22/12/1998	1/9/2010	Active	NO
4	L28920MH1919PLC000567	THE TATA POWER COMPANY LIMITED	Director	15/01/1999	15/01/1999	-	Active	NO
5	L24292WB1954PLC021516	AKZO NOBEL INDIA LIMITED	Director	19/05/1999	19/05/1999	-	Active	NO
6	L36992MH1948PLC014083	RALLIS INDIA LIMITED	Director	28/06/1999	28/06/1999	-	Active	NO
7	U74899DL1995PLC066685	TATA TELESERVICES LIMITED	Nominee director	29/09/1999	29/09/1999	23/03/2009	Active	NO
8	L23200MH1979PLC021359	CASTROL INDIA LIMITED	Director	17/10/2000	17/10/2000	-	Active	NO
9	U72200PN1994PLC013313	TATA TECHNOLOGIES LIMITED	Director	8/3/2001	8/3/2001	-	Active	NO
10	U34100MH1995PLC093733	TATA AUTOCOMP SYSTEMS LIMITED	Director	27/06/2001	27/06/2001	-	Active	NO
11	U83000MH1926PLC001231	THE ANGLO SCOTTISH EDUCATION SOCIETY	Director	12/9/2001	12/9/2001	-	Active	NO
12	U22219WB1922PTC004503	ABP PRIVATE LIMITED	Director	15/12/2003	15/12/2003	-	Active	NO
13	U24117KA2005PLC036126	ADVINUS THERAPEUTICS LIMITED	Director	30/04/2005	30/04/2005	-	Active	NO
14	U73100KA2000PLC028246	METAHELIX LIFE SCIENCES LIMITED	Director	21/09/2011	30/12/2010	-	Active	NO
15	U05121KA2002PLC031204	DHAANYA SEEDS LIMITED	Director	28/09/2011	30/12/2010	-	Active	NO

Name :

Mr. Krishna Kumar Rayaroth Kuttambally

Designation :

Director

Address :

213-B, NCPA Apartments, Nariman Point, Mumbai – 400 021, Maharashtra, India

Date of Birth/Age :

18.07.1938

Date of Appointment :

22.01.2002

Election Commission ID No :

WB/23/148/063742

DIN No :

00027941

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	L15491WB1962PLC031425	TATA GLOBAL BEVERAGES LIMITED	Director	5/5/1987	5/5/1987	-	Active	NO
2	L01131KA1943PLC000833	TATA COFFEE LIMITED	Nominee director	10/1/1991	10/1/1991	-	Active	NO
3	L74999MH1902PLC000183	THE INDIAN HOTELS COMPANY LIMITED	Director	29/08/1997	29/08/1997	-	Active	NO
4	U55101MH1968PLC013960	PIEM HOTELS LIMITED	Director	6/9/1997	6/9/1997	-	Active	NO
5	L55101TN1970PLC005897	ORIENTAL HOTELS LIMITED	Director	24/09/1997	24/09/1997	-	Active	NO
6	U44003MH1945PLC004403	TATA INDUSTRIES LIMITED	Director	3/4/1998	3/4/1998	-	Active	NO
7	U99999MH1917PLC000478	TATA SONS LIMITED	Director	22/01/2002	22/01/2002	-	Active	NO
8	U74999MH1922PLC001030	EWART INVESTMENTS LIMITED	Director	28/03/2002	28/03/2002	-	Active	NO
9	U99999MH1942PLC003573	TATA HOUSING DEVELOPMENT COMPANY LIMITED	Director	22/09/2004	22/09/2004	-	Active	NO
10	U64200AP1995PLC044060	TATA BUSINESS SUPPORT SERVICES LIMITED	Director	14/01/2005	14/01/2005	3/12/2007	Active	NO
11	U31900MH2005PLC158120	Infiniti Retail Limited	Director	26/06/2009	18/05/2006	-	Active	NO
12	L65990MH1991PLC060670	TATA CAPITAL LIMITED	Additional director	1/11/2006	1/11/2006	30/04/2007	Active	NO
13	U70102MH2007PLC168300	TATA REALTY AND INFRASTRUCTURE LIMITED.	Director	2/3/2007	2/3/2007	-	Active	NO
14	U51900MH1962PLC012528	TATA INTERNATIONAL LIMITED	Additional director	22/05/2007	22/05/2007	22/04/2009	Active	NO
15	U74990MH2009PTC190764	RNT ASSOCIATES PRIVATE LIMITED	Director	5/3/2009	5/3/2009	-	Active	NO
16	U45401MH2007PTC170381	CASA DECOR PRIVATE LIMITED	Director	30/09/2009	21/07/2009	-	Active	NO
17	U15500HR2010PLC041616	NOURISHCO BEVERAGES LIMITED	Additional director	14/03/2011	14/03/2011	-	Active	NO

Name :

Mr. Cyrus Pallonji Mistry

Designation :

Director

Address :

Sterling Bay, 103, Walkeshwar Road, Mumbai – 400 006, Maharashtra, India

Date of Birth/Age :

04.07.1968

Date of Appointment :

10.08.2006

Passport No.:

P349742

Income-tax PAN

AERPM9037N

Voter’s Identify No.:

MH/04/024/078725

Email:

cyrus@shapoorji.com

DIN No :

00010178

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	L85110KA1989PLC009968	TATA ELXSI LIMITED	Director	16/01/1990	16/01/1990	26/10/2009	Active	NO
2	U45200MH1943PLC003812	SHAPOORJI PALLONJI AND COMPANY LIMITED	Managing director	29/09/2009	27/03/1991	-	Active	NO
3	U28100MH1920PLC000807	UNITED MOTORS (INDIA) LIMITED	Director	3/7/1991	3/7/1991	27/11/2009	Active	NO
4	U65920MH1994PLC077480	SHAPOORJI PALLONJI FINANCE LIMITED	Director	4/4/1994	4/4/1994	14/12/2009	Active	NO
5	U31100MH1995PLC084278	SHAPOORJI PALLONJI POWER COMPANY LIMITED	Director	16/01/1995	16/01/1995	28/01/2008	Active	NO
6	U45200MH1951PTC008529	PALLONJI SHAPOORJI AND COMPANY PRIVATE LIMITED	Director	17/11/1995	17/11/1995	-	Active	NO
7	U70100MH1943PTC003997	STERLING INVESTMENT CORPORATION PRIVATE LIMITED	Director	17/11/1995	17/11/1995	-	Active	NO
8	U65920MH1923PLC001053	CYRUS INVESTMENTS LIMITED	Director	17/11/1995	17/11/1995	-	Active	NO
9	U99999MH1942PTC019618	SHAPOORJI PALLONJI AND COMPANY (RAJKOT) PRIVATE LIMITED	Director	20/11/1995	20/11/1995	-	Amalgamated	NO
10	U27203MH1995PTC095322	SP ALUMINIUM SYSTEMS PRIVATE LIMITED	Director	11/3/1996	11/3/1996	16/11/2010	Active	NO
11	U65990MH1997PLC108596	SHAPOORJI PALLONJI INFRASTRUCTURE CAPITAL COMPANY LIMITED	Director	6/11/1997	6/11/1997	-	Active	NO
12	U72200MH1999PTC122642	BUILDBAZAAR TECHNOLOGIES (INDIA) PRIVATE LIMITED	Director	12/11/1999	12/11/1999	-	Active	NO
13	U40109TN1995PTC033944	SAMALPATTI POWER COMPANY PRIVATE LIMITED	Director	4/12/1999	4/12/1999	29/01/2008	Active	NO
14	U45200MH1976PLC019335	AFCONS INFRASTRUCTURE LIMITED	Director	26/04/2000	26/04/2000	-	Active	NO
15	L17110MH1919PLC000628	FORBES AND COMPANY LIMITED	Director	23/06/2003	23/06/2003	-	Active	NO
16	U55100MH1977PLC019660	FORVOL INTERNATIONAL SERVICES LIMITED	Director	31/07/2006	19/08/2005	15/12/2009	Active	NO
17	U99999MH1917PLC000478	TATA SONS LIMITED	Director	16/07/2007	10/8/2006	-	Active	NO
18	L17116KA2006PLC038839	GOKAK TEXTILES LIMITED	Director	13/08/2007	29/11/2006	7/7/2008	Active	NO
19	U80904MH2007PLC167754	IMPERIAL COLLEGE INDIA FOUNDATION	Director	10/2/2007	10/2/2007	-	Active	NO
20	U85100MH1946GAP005082	BREACH CANDY HOSPITAL TRUST	Director	4/9/2008	3/4/2008	-	Active	NO
21	U45200MH2008NPL188263	INSTITUTE FOR LEAN CONSTRUCTION EXCELLENCE	Director	17/11/2008	17/11/2008	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Farokh Nariman Subedar
Designation :	Company Secretary
Address :	1, Wadia Building, Ground Floor, 6, Babulnath Road, Mumbai – 400 007, Maharashtra, India
Date of Birth/Age :	24.09.1955
Date of Appointment :	01.01.1996
Email:	fnsubedar@tata.com
Election Commission ID No :	MT/04/024/024859
PAN No :	AAGPS8433B
Name :	Mr. Kapadia
Designation :	Vice President - Finance

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(As on 29.07.2011)

Names of Shareholders	No. of Equity Shares	No. of Preference Shares
The Trustees M K Tata Trust, India	2421	0
Mistry Shapoor Pallon	108	0
Sterling Investment Corporation Limited, India	37122	0
Cyrus Investments Limited, India	37122	0
Tata Naval Ratan	3368	0
Tata Naval Ratan	0	353800
HH Mah Virendra Singh n Chauhan of Chhota Udepur	1	0
Tata Investment Corporation Limited, India	326	300000
Tata Naval Simone	2011	0
Tata Naval Jimmy	3262	0
Tata Naval Noel	2055	0
The Trustees Sir Dorab Tata Trust, India	113067	0
The Trustees Sir Ratan Tata Trust, India	95211	0
The Trustees Sarvajanik Seva Trust, India	396	0
The Trustees R D Tata Trust, India	8838	0
The Trustees Tata Education Trust, India	15075	0
The Trustees Tata Social Welfare Trust, India	15075	0
The Trustees J R D Tata Trust, India	16200	0
Tata Minocher Piloo	487	0
Choksey Farhad Vera	157	0
Tata Minocher Jimmy	157	0
Tata Motors Limited, India	12375	100000
Tata Limited, India	0	20000
Tata Power Company Limited, India	6673	0
Tata tea Limited, India	1755	0
India Hotels Company Limited, India	4500	0
Tata Industries Limited, India	2295	100000
Tata Chemicals Limited, India	10237	200000
Kalimati Investment Company Limited, India	12375	0
Noshir Adi Soonawala	0	300200
Simone naval Tata Noel Naval Tata	0	15000
Tata International Limited, India	1477	0
Arunkumar R Gandhi Nisha A Gandhi	0	10000
Ravi kant	0	10000
Jamshedji Irani	0	26000
Praveen P Kadale	0	5000
Tushad Behram Dubash	0	40000
Farrokh K Kavarana	0	15000
Ramabadran Gopalakrishnan	0	20000
Radha Madhav Investments Limited, India	0	1000000
Jamsetji Tata Trust	0	24500000
Navajbai Ratan Tata Trust, India	0	15015000
Ishaat Hussain Shazmeen Hussain	0	50000
Aloo Novel Tata Noel Naval Tata	0	150000
S Ramadorai	0	10000
Shyamal Gupta Chandra S Gupta	0	10000
Ashok Soni	0	25000
Farokh Nariman Subedar Villoo Farokh Subedar	0	10000

AS ON 29.07.2011

Equity Share Breakup		Percentage of Holding
Category
Bodies corporate		31.24
Directors or relatives of directors		2.87
Other top fifty shareholders		65.89
	Total	100.00

BUSINESS DETAILS

Line of Business :

Subject undertakes Investment, Finance, Computer Consultancy, New Projects, Project Consultancy, Market Research and Surveys. It also undertakes Property Development.

GENERAL INFORMATION

No. of Employees :

11000 (Approximately)

Bankers :

· Central Bank of India

Debenture Trustee Section, Central Bank Building, 6^th Floor, 55, Mahatma Gandhi Road, Mumbai – 400 001, Maharashtra, India

• The Hongkong and Shanghai Banking Corporation Limited

52/60, Mahatma Gandhi Road, Fort, Mumbai - 400001

Facilities :

Secured Loans	31.03.2010 Rs. In millions	31.03.2009 Rs. In millions
Non-Convertible Debentures secured by equitable mortgage of specified property and pledge of shares	59000.000	59000.000
Loans From Banks against pledge of shares	4500.000	10400.000
Total	63500.000	69400.000

Unsecured Loans	31.03.2010 Rs. In millions	31.03.2009 Rs. In millions
Fixed Deposits	02.300	02.300
Short term Loans from
Banks	20.600	00.600
Others	120.500	8870.500
Long-Term loans from Banks	14603.000	9234.500
Non-Convertible Debentures	35500.000	20000.000
Total	50246.400	38107.900

Banking Relations :	Good
Financial Institution :	Centbank Finance Services Limited, Central Bank MMO Building, 6^th Floor, 55 Mahatma Gandhi Road, Fort, Mumbai – 400023, Maharashtra, India
Auditors :
	Deloitte Haskins and Sells Chartered Accountants
Address :	12, Dr. Annie Besant Road, Opp. Shiv Sagar Estate, Worli, Mumbai – 400 018, Maharashtra, India
PAN :	AACFD4815A
Associates :	Advinus Therapeutics Private Limited National Power Exchange Limited (w.e.f. 11.12.2008) Niskalp Energy Limited Hemisphere Properties India Limited Tata Communications Limited Precision Camshafts Limited (w.e.f. 29.08.2008) Tata Elxsi Limited Quikjet Cargo Airlines Private Limited (w.e.f. 16.06.2008) Tata Industries Limited Tata International Limited Tata Autocomp Systems Limited (w.e.f. 28.06.2008) Tata Motors Limited Speech and Software Technologies (India) Private Limited Tata Steel Limited The Associated Building Company Limited Tata Tea Limited Casa Décor Private Limited The Tata Power Company Limited Landmark Limited (w.e.f. 20.05.2008 and ceased Trent Limited to be an associate on 26.03.2009) Vantech Investments Limited (ceased to be an associate w.e.f. 30.03.2010) Amalgamated Plantations Private Limited (w.e.f 29.04.2009) Voltas Limited Rockbourne Holding B.V. Tata Chemicals Limited Tata Precision Industries Pte Limited Global Information Services Limited Tata Enterprises (Overseas) AG, Zug Nagarjuna Oil Corporation Limited (w.e.f. 04.08.2008) Titan International Investments B.V TRIL Infopark Limited (27.05.2008) Piaggio Aero Industries S.p.A (w.e.f. 09.10.2008) Miracle Entertainment Private Limited Titan International Marketing Limited Exegenix Research Inc. (Ceased to be an associate and became a subsidiary w.e.f. 05.06.2009) TKM Overseas Transport Limited Technopolis Knowledge Park Limited (TKPL) Firstech Solutions Company Limited (Ceased to be an associate w.e.f. 12.01.2009) Virgin Mobile India Private Limited Rentalbazaar (India) Limited Pune-Solapur Expressways Private Limited (w.e.f. 20.03.2009)
Subsidiaries :	Panatone Finvest Limited CIN No.: U67120MH1992PLC066160 Tata Capital Limited CIN No.: U65990MH1991PLC060670 Tata Investment Corporation Limited CIN No.: L67200MH1937PLC002622 Tata Business Support Services Limited CIN No.: U64200AP1995PLC044060 Tata Consultancy Services Limited CIN No.: L22210MH1995PLC084781 Ewart Investments Limited CIN No.: U74999MH1922PLC001030 Tata Housing Development Company Limited CIN No.: U99999MH1942PLC003573 Tata Petrodyne Limited CIN No.: U11100MH1993PLC134095 Tata Sky Limited CIN No.: U92120MH2001PLC130365 Tata Assets Management Limited CIN No.: U65990MH1994PLC077090 Tata Teleservices Limited CIN No.: U74899DL1995PLC066685 Infiniti Retail Limited CIN No.: U31900MH2005PLC158120 Computational Research Laboratories Limited Pioneer Infratech Private Limited Ewart Investment Private Limited TRIF Gandhinagar Projects Private Limited TRIF Gurgaon Housing Projects Private Limited (w.e.f. 24.06.2009) Tata AIG General Insurance Company Limited TRIF Hyderabad Projects Private Limited Tata AIG Life Insurance Company Limited TRIF Infrastructure Private Limited TRIF Kochi Projects Private Limited (Ceased to be a subsidiary w.e.f. 31.03.2010) Tata Limited TRIF Kolkata Projects Private Limited TRIF Mega Projects Private Limited (w.e.f. 31.12.2008) Tata Trustee Company Limited (formerly Tata Trustee Company Private Limited) TRIL Logistics Private Limited (formerly TRIF Modern Superstructures Private Limited) (w.e.f. 31.12.2008) e-NXT Financials Limited TS Investments Limited (w.e.f. 07.01.2010) TRIF Property Development Private Limited Tata Advanced Systems Limited (w.e.f. 26.09.2008) TRIF Real Estate and Development Private Limited Nova Integrated Systems Limited (w.e.f. 26.09.2008) TRIF Realty Projects Private Limited Tara Aerospace Systems Limited (w.e.f. 26.09.2008) TRIF Structures and Builders Private Limited(w.e.f. 31.12.2008) TRIF Constructions Private Limited (w.e.f. 31.12.2008) TRIF Erectors Private Limited (w.e.f. 31.12.2008) TRIF Trivandrum Projects Private Limited Tata Asset Management Limited TRIL Airport Developers Limited Tata Asset Management (Mauritius) Private Limited TRIL Constructions Limited Tata Pension Management Limited TRIL Developers Limited TRIL Roads Private Limited (formerly Navinya Buildcon Private Limited) Good Health TPA Services Limited (w.e.f. 11.09.2008) TRIF Amritsar Projects Private Limited (w.e.f. 18.09.2008 and ceased to be a subsidiary w.e.f. 01.03.2009) Tata Capital Housing Finance Limited (w.e.f. 15.10.2008) Tata Capital Markets Limited Tata Capital Pte. Limited (w.e.f. 17.07.2008) TC Travel And Services Limited (w.e.f. 15.10.2008) APONLINE Limited Tata Capital Markets Pte. Limited (w.e.f. 05.12.2008) C-Edge Technologies Limited Tata Capital Advisors Pte. Limited (w.e.f. 05.12.2008) CMC Americas Inc Tata Capital Plc (w.e.f. 10.11.2009) CMC Limited Tata Securities Limited Custodia De Documentos Interes Limitada T Sec Commodities Broking Limited (w.e.f. 26.10.2009) Diligenta Limited ERI Holdings Corp. (w.e.f. 05.06.2009) Concept Marketing and Advertising Limited Exegenix Research Inc. (w.e.f. 05.06.2009) Smart Value Homes Private Limited (w.e.f. 08.09.2009) Financial Network Services (Africa) (Pty) Limited (Ceased to be a subsidiary w.e.f. 05.03.2010) Tata International AG, Zug Tata AG, Zug Financial Network Services (Beijing) Company Limited TRIF Investment Management Limited Financial Network Services (Europe) Plc (Ceased to be a subsidiary w.e.f. 02.12.2008) Financial Network Services (H.K.) Limited ACTVE Digital Services Private Limited (w.e.f. 21.04.2008) Tata Internet Services Limited Wireless – TT Info Services Limited Tata Teleservices (Maharashtra) Limited 21st Century Infra Tele Limited (w.e.f. 01.07.2008) Tata Consulting Engineers Limited (formerly TCE Consulting Engineers Limited) TCE QSTP-LLC (w.e.f. 07.07.2008) Tata Realty and Infrastructure Limited Acme Living Solutions Private Limited (w.e.f. 27.01.2009) Ahinsa Realtors Private Limited Ardent Properties Private Limited (w.e.f. 19.12.2008) Arrow Infraestate Private Limited (w.e.f. 30.09.2008) Gurgaon Construct Well Private Limited (formerly Unitech Construct Well Private Limited) (w.e.f. 30.09.2008) Gurgaon Infratech Private Limited (formerly Unitech Infratech Private Limited) (w.e.f. 30.09.2008) Gurgaon Realtech Limited (formerly Unitech Real Tech Limited) (w.e.f. 30.09.2008) Landscape Structures Private Limited (w.e.f. 19.12.2008) Tata Consultancy Services Malaysia Sdn Bhd Tata Consultancy Services Morocco SARL AU Tata Consultancy Services Netherlands BV Tata Consultancy Services Portugal Unipessoal Limitada Tata Consultancy Services Sverige AB Tata Consultancy Services Switzerland Limited (Formerly TKS – Tecknosoft S.A.) Tata Information Technology (Shanghai) Company Limited Tata Infotech (Singapore) Pte. Limited (Liquidated w.e.f. 24.03.2010) Tata Infotech Deutschland GmbH (Ceased to be a subsidiary w.e.f. 22.10.2008) TATASOLUTION CENTER S.A TCS e-Serve America, Inc (w.e.f. 10.02.2009) TCS e-Serve International Limited (Formerly CGSL International Limited) (w.e.f. 31.12.2008) TCS e-Serve Limited (Formerly Citigroup Global Services Limited) (w.e.f. 31.12.2008) TCS Financial Management, LLC [Ceased to be a subsidiary w.e.f. 14.04.2009] TCS Financial Solutions Australia Holdings Pty Limited (Formerly Financial Network Services (Holdings) Pty Limited) TCS Financial Solutions Australia Pty Limited (Formerly Financial Network Services Pty Limited) Financial Network Services Malaysia Sdn Bhd (Liquidated on 16.6.2009. Hence ceased to be a subsidiary) MGDC S.C. (w.e.f. 01.01.2010) MP Online Limited PT Financial Network Services PT Tata Consultancy Services Indonesia Syscrom S.A. Tata America International Corporation Tata Consultancy Services (Africa) (PTY) Limited Tata Consultancy Services (China) Company, Limited Tata Consultancy Services (Philippines) Inc. (w.e.f. 19.09.2008) Tata Consultancy Services (South Africa) (PTY) Limited Tata Consultancy Services (Thailand) Limited (w.e.f. 12.05.2008) Tata Consultancy Services Argentina S.A. (Formerly TCS Argentina S.A.) Tata Consultancy Services Asia Pacific Pte Limited Tata Consultancy Services Belgium SA Tata Consultancy Services BPO Chile SA (Formerly Tata Consultancy Services Chile Limitada) Tata Consultancy Services Canada Inc. (formerly Exegenix Canada Inc.) Tata Consultancy Services Chile S.A. Tata Consultancy Services De Espana S.A. Tata Consultancy Services De Mexico S.A., De C.V. Tata Consultancy Services Deutschland GmbH Tata Consultancy Services Do Brasil Ltda (Formerly Tata Consultancy Services Do Brasil S.A.) Tata Consultancy Services France SAS (Formerly TKS - Tecknosoft (France) SAS) Tata Consultancy Services Japan Limited Tata Consultancy Services Luxembourg S.A TCS FNS Pty Limited TCS Iberoamerica SA TCS Inversiones Chile Limitada TCS Italia SRL TCS Management Pty Limited TCS Solution Center S.A. TCS Uruguay S.A. (w.e.f. 01.01.2010) WTI Advanced Technology Limited
Joint Venture :	* Strategic Energy Technology Systems Limited (formerly Strategic Equipment * Supplies Limited) (w.e.f. 18.07.2008)

CAPITAL STRUCTURE

AS ON 29.07.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
3,000,000	Equity shares	Rs.1000/- each	Rs. 3000.000 Millions
55,000,000	Preference shares	Rs.1000/- each	Rs.55000.000 Millions
58,000,000	Total		Rs.58000.000 Millions

Issued Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
404,146	Equity shares	Rs.1000/- each	Rs. 404.146 Millions
43,250,000	Preference shares	Rs.1000/- each	Rs.43250.000 Millions
43,654,146	Total		Rs.43654.146 Millions

AS ON 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
600,000	Ordinary shares	Rs.1000/- each	Rs. 600.000 Millions
42,750,000	Cumulative Redeemable Preference shares	Rs.1000/- each	Rs.42750.000 Millions
43,350,000	Total		Rs.43350.000 Millions

Issued Capital :

No. of Shares	Type	Value	Amount
404,146	Ordinary shares	Rs.1000/- each	Rs. 404.146 Millions
2,500,000	7% Cumulative Redeemable Preference shares	Rs.1000/- each	Rs. 2500.000 Millions
39,750,000	8.25% Cumulative Redeemable Preference shares	Rs.1000/- each	Rs.39750.000 millions
140,000	7.5% Cumulative Redeemable Preference shares	Rs.1000/- each	Rs. 140.000 millions
360,000	7% Cumulative Redeemable Preference shares	Rs.1000/- each	Rs. 360.000 millions
43,154,146	Total		Rs.43154.146 Millions

Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
404,146	Ordinary shares	Rs.1000/- each	Rs.404.146 millions
2,200,000	7% Cumulative Redeemable Preference shares	Rs.1000/- each	Rs.2200.000 millions
39,515,000	8.25% Cumulative Redeemable Preference shares	Rs.1000/- each	Rs.39515.000 millions
140,000	7.5% Cumulative Redeemable Preference shares	Rs.1000/- each	Rs.140.000 millions
170,000	7% Cumulative Redeemable Preference shares	Rs.1000/- each	Rs.170.000 millions
	Total		Rs.42429.146 Millions

Of the above Shares

No. of Ordinary Shares	Ordinary Shares
9,315	Ordinary Shares of Rs.1000 each, were issued as fully paid-up pursuant to contract without payments having been received in cash.
364,853.5	Ordinary Shares of Rs.1000 each, were issued as fully paid-up Bonus Shares by Capitalisation of Reserves and Share Premium.

Preference Shares
No. of Preference Shares	Rate Of Dividend	Issue Period	Date of Redemption	Date of Put/Call Option (Where applicable)	Amount (Rs. in Millions)
15,00,000	7.00%	August,2006 to June,2007	30^th December,2011+	30^th June,2009/ 31st December, 2010	1500.000
7,00,000	7.00%	June,2007 to June,2008	31st December,2012+	30th June, 2010/ 31st December, 2011	700.000
3,95,15,000	8.25%#	October 2007 to September 2009	#	--	39515.000
1,40,000	7.50%	Augest,2008 to April, 2009 ^	31^st March, 2014+	30th September, 2010/ 30th June, 2012	140.000
1,70,000	7.00%	July,2009 to March,2010 ^	31^st March, 2015+	30th September, 2011/ 30th June, 2013	170.000
+ The Preference Shares may be redeemed at an earlier date in the event of a certain eventuality as may be decided by the Directors of the Company.
# The Company, in consultation with the preference shareholders, will announce a dividend rate at the end of five years from the date of allotment for each successive five year period thereafter. These preference shares are redeemable at the end of twenty years or, in whole or part, on dividend reset dates in the event the issuer and the investor do not consent to a mutually agreeable rate.
^ or such extended date as the Directors of the Company may decide.

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		42429.100	34129.100	27874.100
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		189256.400	180428.200	155242.300
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		231685.500	214557.300	183116.400
LOAN FUNDS
1] Secured Loans		63500.000	69400.000	34400.000
2] Unsecured Loans		50246.400	38107.900	53415.900
TOTAL BORROWING		113746.400	107507.900	87815.900
DEFERRED TAX LIABILITIES		7.800	5.000	2.600
TOTAL		345439.700	322070.200	270934.900
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		300.400	321.900	327.600
Capital work-in-progress		749.300	8.600	0.000
INVESTMENT		323685.700	293358.900	235630.400
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Construction Work in progress	1176.200	2455.800	2411.800
	Sundry Debtors	3914.500	3238.700	3122.900
	Cash & Bank Balances	26817.900	29175.700	36737.800
	Interest accrued on investments and deposits	279.700	49.300	188.200
	Loans & Advances	5984.200	7721.200	3239.000
Total Current Assets		38172.500	42640.700	45699.700
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	6983.500	4488.500	1960.600
	Sundry Creditors	1264.600	1196.200	2107.000
	Provisions	9220.100	8575.200	6655.200
Total Current Liabilities		17468.200	14259.900	10722.800
Net Current Assets		20704.300	28380.800	34976.900
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		345439.700	322070.200	270934.900

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	2900.400	2912.100	2886.500
		Dividend	20966.600	17553.400	15786.700
		Other Income	4189.800	20774.600	26093.500
		TOTAL	28056.800	41240.100	44766.700
Less	EXPENSES
		Payment to and provision for employees	495.800	460.200	460.900
		Establishment and Other Expenses	1688.300	2243.200	1733.500
		TOTAL	2184.100	2703.400	2194.400
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		25872.700	38536.700	42572.300
Less	FINANCIAL EXPENSES		8379.700	5048.400	1319.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		17493.000	33488.300	41253.300
Less/ Add	DEPRECIATION/ AMORTISATION		29.300	37.900	34.100
	PROFIT BEFORE TAX		17463.700	33450.400	41219.200
Less	TAX		1252.800	2914.700	3421.200
	PROFIT AFTER TAX		16210.900	30535.700	37798.000
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		54706.600	57270.700	66729.700
Less	APPROPRIATIONS
		Transfer to General Reserve	2000.000	3500.000	4000.000
		Capital Redemption Reserve	8310.000	6250.000	26470.000
		Debenture Redemption Reserve	8000.000	18000.000	13000.000
Less		Interim Dividends-Preference	3147.400	0.000	07.500
		Proposed Dividends-Preference	0.000	2520.800	949.200
		Proposed Dividends-Ordinary	0.000	2829.000	2829.000
		Interim Dividends-Ordinary	2829.000	0.000	0.000
		Tax on Dividends	0.000	0.000	01.300
	BALANCE CARRIED TO THE B/S		46631.100	54706.600	57270.700
	EARNINGS IN FOREIGN CURRENCY
		Consultancy Services	04.700	01.700	3.600
		Dividends and Interest	25.000	73.800	52.300
		Other Earnings	186.300	7210.100	566.100
	TOTAL EARNINGS		216.000	7285.600	622.000
	Earnings Per Share (Rs.)		32324	69319	91155

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	57.78	74.04	84.43
Net Profit Margin (PBT/Sales)	(%)	602.11	1148.66	14278.00
Return on Total Assets (PBT/Total Assets}	(%)	45.39	77.86	89.55
Return on Investment (ROI) (PBT/Networth)		0.07	0.15	0.22
Debt Equity Ratio (Total Liability/Networth)		0.57	0.57	0.54
Current Ratio (Current Asset/Current Liability)		2.18	2.99	4.26

LOCAL AGENCY FURTHER INFORMATION

SUNDARY CREDITORS DETAILS

Rs in Millions

PARTICULAS	31.03.2010	31.03.2009	31.03.2008
Dues to other than Micro and Small Enterprises	1222.000	1149.200	2013.700
Subsidiary Companies	42.600	47.000	93.300
Total	1264.600	1196.200	2107.000

PERFORMANCE:

During the year, the Company continued to acquire shares and securities of its existing industrial enterprises as well as in newly promoted companies. Income earned from dividends on investments during the year 2009-10 increased to Rs.20966.600 millions (Previous Year: Rs. 17553.400 millions). The dividend income supplemented by the other income was primarily utilised to augment the resources of the Company for increasing the long term investments in promoted companies.

Investments, at cost, as at March 31, 2010 stood at Rs. 323685.700 millions as compared to Rs. 293358.900 millions as at March 31, 2009. During the year the Company enhanced its stake in Tata Industries. It also enhanced its stake in several listed Tata companies.

In addition, the Company made significant investments during the year in the unlisted subsidiaries promoted by the Company.

The Company has been classified as a Non-Banking Non-Financial Company.

CONTINGENT LIABILITIES [As on 31.03.2010]

Contingent liabilities not provided for:

a. The Company has given guarantees to banks, financial institutions and others in respect of credit facilities extended to other companies of the maximum amount of Rs. 13295.000 millions (31st March, 2009 – Rs. 12178.200 millions). The amounts outstanding against the above guarantees as on 31st March, 2010 were Rs. 13174.400 millions (31st March, 2009 – Rs. 12011.700 millions).

b. Income Tax Matters:

1) Pending before Appellate authorities in respect of which the Company is in Appeal Rs. 7451.600 millions (31st March, 2009 – Rs. Nil). A substantial amount of the aforesaid liability arises from a contrary position taken by the department in a recent assessment compared to the earlier years. The treatment consistently adopted by the Company is supported by various judicial pronouncements.

2) Decided in the Company’s favour by Appellate authorities and for which the Department is in further appeal Rs. 5121.800 millions (31st March, 2009 – Rs. 1771.500 millions).

c. Sales Tax matters under Appeal amounts to Rs. 43.900 millions (31st March, 2009 – Rs. 43.900 millions).

d. Other claims not acknowledged as debt Rs. 24.000 millions (31st March, 2009 – Rs. 14.900 Millions). Outflows are dependent on future decisions and appeals. No reimbursements are expected.

e. The Company has pledged shares of the book value of Rs. 22334.200 millions (31st March, 2009 – Rs. 35559.600 millions), held in subsidiaries of the Company, as security for the assistance availed by the subsidiaries from certain banks.

FIXED ASSETS:

· Land – Freehold

· Land – Leasehold

· Building – Freehold

· Plant and Machinery

· Motor Vehicles

· Furniture, Fittings and Equipment

· Computer Software

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.52.70
UK Pound	1	Rs.82.44
Euro	1	Rs.71.07

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	9
PAID-UP CAPITAL	1~10	9
OPERATING SCALE	1~10	9
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	10
--PROFITABILIRY	1~10	8
--LIQUIDITY	1~10	9
--LEVERAGE	1~10	9
--RESERVES	1~10	9
--CREDIT LINES	1~10	9
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		81

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.