1) Contingent Liabilities:
 
 a) Claims against the Company disputed and not acknowledged as debts:
 
                                                      (Rs. in Million)
 
 Particulars                               As at               As at
                                  March 31, 2011      March 31, 2010
 
 (i) Excise Duty
 
 (a)  Cases decided in the 
 Company’s favour by Appellate 
 authorities and for                      1,066            1,141
 which the department 
 is in further appeal
 
 (b)  Show cause notices / 
 orders on the subjects covered
 in (i) (a) above for                     1,932            1,351
 other periods
 
 (c)  Cases pending before 
 Appellate authorities in 
 respect of which the                    10,631            8,700
 Company is in appeal 
 and other show cause notices
 
 Total                                   13,629           11,192
 
 Amount deposited under protest               3                3
 
 (ii) Service Tax
 
 (a)  Cases decided in the 
 Company’s favour by 
 Appellate authorities and for              357              357
 which the department is 
 in further appeal
 
 (b)  Show cause notices / 
 orders on the subjects 
 covered in (ii) (a) above for            2,775                -
 other periods
 
 (c) Cases pending before 
 Appellate authorities in 
 respect of which the                     3,348             1,855
 Company is in appeal and 
 other show cause notices
 
 Total                                    6,480             2,212
 
 Amount deposited under protest               2                -
 
 (iii)  Income Tax
 
 (a)   Cases decided in the 
 Company’s favour by Appellate 
 authorities and for                      6,491             5,520
 which the department is 
 in further appeal
 
 (b)  Cases pending before 
 Appellate authorities / 
 Dispute Resolution Panel in              6,002             3,416
 respect of which 
 the Company is in appeal
 
 Total                                   12,493             8,936
 
 Amount deposited under protest           4,178             3,797
 
 (iv) Custom Duty
 Pending before Appellate 
 authorities in respect of 
 which the Company is in                    118               118
 appeal
 
 Amount deposited under protest              22                22
 
 (v)     Sales Tax
 Pending before Appellate 
 authorities in respect of
 which the Company is in                     50                50
 appeal
 
 Amount deposited under protest               2                 2
 
 (vi)    Claims against the Company 
 for recovery of Rs. 597 million 
 (Previous year Rs. 480
 million) lodged by various parties
 
 b) The amounts shown in the item (a) represent the best possible
 estimates arrived at on the basis of available information.  The
 uncertainties and possible reimbursements are dependent on the outcome
 of the different legal processes which have been invoked by the Company
 or the claimants as the case may be and therefore cannot be predicted
 accurately.  The Company engages reputed professional advisors to
 protect its interests and has been advised that it has strong legal
 positions against such disputes.
 
 2) Outstanding commitments under Letters of Credit established by the
 Company aggregate Rs. 9,294 million (Previous year Rs. 3,977 million).
 
 3) Estimated value of contracts on capital account, excluding capital
 advances, remaining to be executed and not provided for, amount to Rs.
 25,943 million (Previous year Rs. 17,408 million).
 
 4) Consumption of raw materials and components has been computed by
 adding purchases to the opening stock and deducting closing stock
 physically verified by the management.
 
 5) The Company was granted sales tax benefit in accordance with the
 provisions of Rule 28C of Haryana General Sales Tax Rules, 1975 for the
 period from 1st August, 2001 to 31st July, 2015. The ceiling amount of
 concession to be availed of during entitlement period is Rs. 5,644
 million. Till 31st March 2011, the Company has availed of / claimed
 sales tax benefit amounting to Rs. 2,118 million (Previous year Rs. 1,893
 million).
 
 6) The Company has considered “business segment” as the primary segment
 .The Company is primarily in the business
 of manufacture, purchase and sale of motor vehicles and spare parts
 (“automobiles”). The other activities of the Company comprise
 facilitation of Pre-Owned Car sales, Fleet Management and Car
 Financing. The income from these activities, which are incidental to
 the Company’s business, is not material in financial terms but
 contribute significantly in generating the demand for the products of
 the Company. Accordingly, the Company has considered ”Business Segment”
 as the primary segment and thus no business segment information is
 required to be disclosed.
 
 The ”Geographical Segments” has been considered for disclosure as
 secondary segment, under which domestic segment includes sales to
 customer located in India and overseas segment includes sales to
 customers located outside India .
 
 7) The Balance due for more than 30 days to Micro and Small Scale
 Enterprises as at March 31, 2011 is Rs. Nil (Previous Year Rs. 0.1
 million). The Company pays its vendors within 30 days and no interest
 during the year has been paid or is payable under the terms of the
 Micro, Small and Medium Enterprises Development Act, 2006.
 
 8) The Company has calculated the various benefits provided to
 employees as under 
 
 A.  Defined Contribution Plans
 
 a) Superannuation Fund
 
 b) Post Employment Medical Assistance Scheme.
 
 c) Provident Fund
 
 During the year the Company has recognised the following amounts in the
 Profit and Loss account :-
 
 9) Previous Year’s figures have been recasted / regrouped where
 considered necessary to make them comparable with the current year’s
 figures.