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168
Sixty-Seventh Annual Report 2011-2012
2011-2012
2010-2011
42. Expenditure in foreign currency (subject to deduction of tax where applicable) :
(i) Technical Know-how / services
387.44
223.39
(ii) Interest
271.64
136.57
(iii) Consultancy / Professional charges
35.66
52.80
(iv) Payments on other accounts [including exchange differences (net)]
228.14
177.55
43. Remittances in foreign currencies for dividends :
The Company does not have complete information as to the extent to which
remittances in foreign currencies on account of dividends have been made by
or on behalf of non-resident shareholders. The particulars of dividends declared
during the year and payable to non - resident shareholders for the year 2010-11
are as under :
(i) Number of non-resident shareholders
a) For 2010-11
Nos.
8,543
-
b) For 2009-10
Nos.
-
7,406
(ii) Number of shares held by them
a) For 2010-11
Nos.
23,05,21,921
-
b) For 2009-10
Nos.
-
18,19,96,551
(iii) Gross amount of dividend
a) For 2010-11
461.04
-
b) For 2009-10
-
272.99
44. Other Notes
(i) The revised Schedule VI has become effective from April 1, 2011 for the preparation of financial statements. This has significantly
impacted the disclosure and presentation made in the financial statements. Previous year figures have been regrouped/
reclassified wherever necessary to correspond with the current year classification / disclosure.
(ii) During the year ended March 31, 2012, TML Holding Pte Ltd. (Singapore) (TMLHS), a wholly owned subsidiary of the Company,
bought back 91,666,700 equity shares for a consideration of USD 2.2 per share (
`
108.79 per share), based on an independent
valuation of TMLHS. The consideration of
`
997.24 crores has been credited to Investment account.
(iii) Capital work-in-progress as at March 31, 2012 includes building under construction at Singur in West Bengal of
`
309.88 crores
for the purposes of manufacturing automobiles. In October 2008, the Company moved the Nano project from Singur in West
Bengal to Sanand in Gujarat.The newly elected Government of West Bengal enacted a legislation on June 14, 2011, which was
notified on June 20, 2011, to cancel the land lease relating to the project at Singur. The Company has challenged the legal
validity of the legislation including the process of compensation in the Courts of Law, the outcome of which is pending as of
the date of approval of these financials by the Board of Directors. Based on management's assessment no provision is considered
necessary to the carrying cost of buildings at Singur.
(iv)
Micro, Small and Medium Enterprise Development Act, 2006 :
The information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been
determined to the extent such parties have been identified on the basis of information available with the Company. The amount
of principal and interest outstanding during 2011-12 is given below :
2011-2012
2010-2011
(a) Amounts outstanding but not due as at March 31,
52.69
254.35
(b) Amounts due but unpaid as at March 31,
-Principal
-
0.06
(c) Amounts paid after appointed date during the year
-Principal
28.61
339.71
(d) Amount of interest accrued and unpaid as at March 31,
-Interest
0.28
1.58
(v) Current year figures are shown in bold prints.
(
`
in crores)
NOTES FORMING PART OF FINANCIAL STATEMENTS