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Standalone Financials
CORPORATE OVERVIEW (1-31)
STATUTORY REPORTS (46-122)
FINANCIALS
AUDITORS’REPORT
TO THE MEMBERS OF
TATA MOTORS LIMITED
1.
We have audited the attached Balance Sheet of
TATA MOTORS LIMITED
(“the Company”) as at March 31, 2012, the Profit and Loss
Statement and the Cash Flow Statement of the Company for the year ended on that date, both annexed thereto. These financial
statements are the responsibility of the Company’s Management. Our responsibility is to express an opinion on these financial
statements based on our audit.
2.
We conducted our audit in accordance with the auditing standards generally accepted in India. Those Standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatements. An
audit includes examining, on a test basis, evidence supporting the amounts and the disclosures in the financial statements. An audit
also includes assessing the accounting principles used and the significant estimates made by the Management, as well as evaluating
the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.
3.
As required by the Companies (Auditor’s Report) Order, 2003 (CARO) issued by the Central Government in terms of Section 227(4A)
of the Companies Act, 1956, we enclose in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the said Order.
4.
Further to our comments in the Annexure referred to in paragraph 3 above, we report as follows:
(a)
we have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the
purposes of our audit;
(b)
in our opinion, proper books of account as required by law have been kept by the Company so far as it appears from our
examination of those books;
(c)
the Balance Sheet, the Profit and Loss Statement and the Cash Flow Statement dealt with by this report are in agreement with
the books of account;
(d)
in our opinion, the Balance Sheet, the Profit and Loss Statement and the Cash Flow Statement dealt with by this report are in
compliance with the Accounting Standards referred to in Section 211(3C) of the Companies Act, 1956;
(e)
in our opinion and to the best of our information and according to the explanations given to us, the said accounts give the
information required by the Companies Act, 1956 in the manner so required and give a true and fair view in conformity with
the accounting principles generally accepted in India:
(i)
in the case of the Balance Sheet, of the state of affairs of the Company as at March 31, 2012;
(ii)
in the case of the Profit and Loss Statement, of the profit of the Company for the year ended on that date; and
(iii)
in the case of the Cash Flow Statement, of the cash flows of the Company for the year ended on that date.
5.
On the basis of the written representations received from the Directors as on March 31, 2012 taken on record by the Board of
Directors, none of the Directors is disqualified as on March 31, 2012 from being appointed as a director in terms of Section 274(1) (g)
of the Companies Act, 1956.
For
DELOITTE HASKINS & SELLS
Chartered Accountants
(Registration No. 117366W)
N. VENKATRAM
Partner
MUMBAI
,
May 29, 2012
(Membership No.71387)
FINANCIAL HIGHLIGHTS (32-45)