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Sixty-Seventh Annual Report 2011-2012
registration No. 00004 were appointed as the Cost Auditors for
auditing the Company’s cost accounts relating tomotor vehicles
(including auto components), foundry and forge for the year
ended March 31, 2012.
DIRECTORS’ RESPONSIBILITY STATEMENT
Pursuant to Section 217 (2AA) of the Act, the Directors, based
on the representation received from the Operating
Management, confirm that:-
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in the preparation of the annual accounts, the applicable
accounting standards have been followed and that there
are no material departures;
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they have, in the selection of the accounting policies,
consulted the Statutory Auditors and have applied
them consistently and made judgments and estimates
that are reasonable and prudent so as to give a true
and fair view of the state of affairs of the Company at the
end of the financial year and of the profit of the Company
for that period;
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they have taken proper and sufficient care, to the best of
their knowledge and ability, for the maintenance of
adequate accounting records in accordance with the
provisions of the Act, for safeguarding the assets of the
Company and for preventing and detecting fraud and
other irregularities;
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they have prepared the annual accounts on a going
concern basis.
ACKNOWLEDGEMENTS
The Directors wish to convey their appreciation to all of the
Company’s employees for their enormous personal efforts as
wel l as their col lective contribution to the Company ’s
performance. The Directors would also like to thank the
employee unions, shareholders, fixed deposit holders,
customers, dealers, suppliers, bankers, Government and all
the other business associates for the continuous support
given by them to the Company and their confidence in
its management.
On behalf of the Board of Directors
RATAN N TATA
Chairman
Mumbai, June 21, 2012