169
NOTES FORMING PART OF FINANCIAL STATEMENTS
(
`
in crores)
42. Remittances in foreign currencies for dividends :
2013-2014
2012-2013
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 2012-13 are as under :
(i) Number of non-resident shareholders
a) For 2012-13
Nos.
9,511
-
b) For 2011-12
Nos.
-
10,292
(ii) Number of shares held by them
a) For 2012-13
Nos.
126,05,80,381
-
b) For 2011-12
Nos.
-
122,16,76,252
(iii) Gross amount of dividend
a) For 2012-13
252.12
-
b) For 2011-12
-
488.67
43. Other notes
(i) Capital Work-in-progress as at March 31, 2014 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 inWest Bengal to Sanand in Gujarat. In June 2011,
the newly elected Government of West Bengal (State Government) enacted a legislation to cancel land lease agreement. The Company challenged
the legal validity of the legislation. In June 2012, the High Court of Calcutta ruled against the validity of the legislation and restored Company’s
rights under the land lease agreement. The State Government filed an appeal in the Supreme Court of India, which is pending disposal. Based on
management’s assessment no provision is considered necessary to the carrying cost of buildings at Singur.
(ii) The Company has substantially completed the process of divesting its investments in certain foreign subsidiary companies to TML Holding Pte Ltd,
Singapore, a wholly owned subsidiary. Consequently, the year ended March 31, 2014 includes a profit of
`
1,966.12 crores
on such divestment
(
R
Nil for the year ended March 31, 2013).
(iii) During FY 2012-13, the Company sold the Forge division at Jamshedpur to its wholly-owned subsidiary, TML Drivelines Ltd on a slump sale basis for
a consideration of
R
110 crores vide an agreement dated March 28, 2013.
(iv)
Micro, Small and Medium Enterprises 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 the year is given below :
2013-2014
2012-2013
(a) Amounts outstanding but not due as at March 31,
141.65
184.41
(b) Amounts due but unpaid as at March 31,
-Principal
-
-
(c) Amounts paid after appointed date during the year
-Principal
18.21
8.43
(d) Amount of interest accrued and unpaid as at March 31,
-Interest
1.07
2.29
(e) Amount of estimated interest due and payable for the period from April 1,2014
to actual date of payment or May 29,2014 (whichever is earlier)
-Interest
0.03
0.03
(v) Current year figures are shown in bold prints
(vi) Previous year figures have been regrouped / reclassified wherever necessary to correspond
with the current year classification / disclosure.
Mumbai, May 29, 2014
NNWADIA
R AMASHELKAR
S BHARGAVA
NMUNJEE
V K JAIRATH
F NAYAR
R SPETH
Directors
CYRUS PMISTRY
Chairman
RAVI KANT
Vice-Chairman
R PISHARODY
ExecutiveDirector
S B BORWANKAR
ExecutiveDirector
C RAMAKRISHNAN
ChiefFinancialOfficer
HK SETHNA
CompanySecretary
For and on behalf of the Board
Independent Auditors’Report
Balance Sheet
(134-169)
Statement of Profit and Loss
Cash Flow Statement
Notes to Accounts
