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148
Sixty-Seventh Annual Report 2011-2012
(
`
in crores)
NOTES FORMING PART OF FINANCIAL STATEMENTS
(7)
The Company has given a letter of comfort to HDFC Bank against the short term and long term loans aggregating
`
235 crores given
by HDFC Bank to Tata Marcopolo Motors Ltd (TMML). The letter of comfort is restricted to 51% of loan amount i.e.
`
120 crores. Also
the Company has given an undertaking to HDFC Bank that it will not dilute its stake below 51% during the tenor of the loan.
(8)
The Company has given a letter of comfort to Citibank NA towards the short term and long term loans aggregating THB 1,055
million (
`
174.19 crores as on March 31, 2012) given by Citibank NA to Tata Motors (Thailand) Ltd (TMTL). The Company has also
given letter of comfort to ICICI Bank towards working capital facility aggregating THB 300 million (
`
49.53 crores as on March
31,2012) given by ICICI Bank to TMTL. Further the Company has given an undertaking to Citibank NA as well as to ICICI Bank for non-
disposal of its shareholding in TMTL below 51% during the tenor of the loan.
(9)
The Company has given a letter of comfort to GE Commercial Distribution Finance Europe Ltd for revolving syndicated loan facility
to Jaguar Cars Ltd and Land Rover for outstanding balance of GBP 50.20 million (
`
409.31 crores as on March 31, 2012). Also the
Company has given an undertaking to GE Commercial Distribution Finance Europe Ltd to retain ultimate 100% ownership of
Jaguar Cars Ltd and Land Rover at all times during the tenor of the loan.
(10) The Company has given a letter of comfort to Citibank NA against working capital loans extended by the bank to Tata Hispano
Motors Carrocera, S.A. (Hispano) aggregating Euro 25 million (
`
169.86 crores as on March 31, 2012). The Company has also given
a letter of comfort to Banco de Valencia against bill discounting facility extended by the bank to Hispano aggregating Euro 2
million (
`
13.59 crores as on March 31, 2012).The Company has also given an undertaking to Citibank NA and Banco de Valencia for
non-disposal of its shareholding in Hispano during the tenor of the loan.
(11) The Company has given letter of comfort to certain banks and other lenders against credit facilities extended to Fiat India
Automobiles Ltd for Rs 1,600 crores and Euro 130 million (
`
883.29 crores as on March 31, 2012). The letter of comfort is restricted
to 50% of the value of credit facilities extended i.e.
`
1,241.65 crores.
(12) The Company has given a letter of comfort to HDFC Bank amounting to
`
1 crore against working capital facility to Tata Motors
Insurance Broking and Advisory Services Limited (TMIBASL). Also the Company has given an undertaking to HDFC Bank that it will
not dilute its stake below 51% during the tenor of the loan.
(13) Trilix Srl., Turin (Italy) is a limited liability company.
(14) In terms of the Scheme of Amalgamation sanctioned by order dated July 29, 2011 of Hon’ble High Court of Bombay, HV Transmission
Ltd has been amalgamated with TML Drivelines Ltd (formerly known as HV Axles Ltd) with effect from April 1, 2011.
(15) Trade investments also include :
Number
Face
Description
value
per unit
`
`
`
5,000
10 Metal Scrap Trade Corporation Ltd
25,000
25,000
50
5 Jamshedpur Co-operative Stores Ltd
250
250
16,56,517
1(M$)
Tatab Industries Sdn. Bhd. Malaysia
1
1
4
25,000 ICICI Money Multiplier Bond
1
1
100
10 Optel Telecommunications
1,995
1,995
200
10 Punjab Chemicals
1
1