1.  The Company exercised the option in terms of amendments notified on
 31st March 2009 to the Accounting Standard 11 (AS 11) The effects of
 changes in Foreign Exchange rates” and the exchange gain/ loss on
 restatement of foreign currency borrowings relating to acquisition of
 depreciable assets was adjusted to the respective asset account. The
 balance gain/ loss on restatement was carried to the Foreign Currency
 Monetary Item Translation Difference Account” to be amortized not
 beyond 31st March 2011. Accordingly the amount remaining to be
 amortized as at 31st March 2011 has been fully adjusted and the balance
 at the year end is nil.
 
 2.  Income Tax demand of Rs. 215.46 millions (including interest) has
 been received during the year by the company against which an appeal
 has been filed and the same is pending. There are Income-tax demands of
 Rs.161.51 millions for earlier years for which appeals are also pending
 at various stages. In respect of the above a sum of Rs.150.38 millions
 has been paid and/ or adjusted by the authorities against refunds due.
 A provision in this behalf of Rs.40 million has been made in these
 accounts which is considered adequate at this stage.
 
 3 a) The Scheme of Arrangement for demerger of Real Estate &
 Warehousing Division of the Company as a going concern into the wholly
 owned subsidiary TCI Developers Ltd. has been approved by the Honble
 High Court of Andhra Pradesh by Order dated 15th September 2010. The
 Scheme has accordingly been given effect to in the accounts effective
 from the Appointed Date 1st April 2010.
 
 b) In accordance with the scheme shareholders of the company have been
 allotted 3,629,431 equity shares of Rs. 10 each by TCI Developers Ltd.
 in the ratio of 1 equity share in TCI Developers Ltd. for every 20
 equity shares of Rs. 2 each held in the Company. On such allotment TCI
 Developers has ceased to be a subsidiary of the Company.
 
 d) The company is deemed to have been carrying on all business
 activities relating to the demerged undertaking with effect from 1st
 April 2010 for and on account of and in trust of the transferee
 company. All profits or losses, income and expenses accruing or arising
 or incurred on or after 1st April 2010 relating to the said undertaking
 have been transferred to the transferee company, TCI Developers Ltd.
 
 e) Titles of the demerged immovable properties are still being held in
 the name of the Company and are in the process of being transferred in
 the name of TCI Developers Ltd.
 
 4. The Company has made investments in share capital and loans &
 advances to its overseas subsidiary and joint venture companies
 aggregating to Rs. 177.49 millions. The net worth of these overseas
 subsidiary and joint venture companies has substantially eroded because
 of losses suffered from year to year. The working of these companies is
 expected to improve in the near future. In view of the strategic nature
 of the investments no provision is considered necessary at this stage.
 
 5.  Related party disclosures a.  List of related parties:
 
 i.  Key Management Personnel:
 
 - MrD.P.Agarwal -MrVineet Agarwal
 
 - MrChander Agarwal -MrKPrabhakar
 
 ii.  Relatives of Key management Personnel:
 
 - Mr. Ashok Agarwal (Brother of Mr.D.P.Agarwal) - Mrs. Priyanka Agarwal
 (Wife of Mr. Vineet .Agarwal)
 
 iii. Associates:
 
 - TCI Global Logistics Ltd -TCI Exim Pvt. Ltd.
 
 - Bhoruka Finance Corporation of India Ltd - XPS Cargo Services Ltd
 
 - TCI Industries Ltd -Etralog.com Solutions Ltd.
 
 - Bhoruka International Pvt. Ltd - TCI India Ltd
 
 - TCI Airways Pvt. Ltd - TCI Warehousing (MH)–Partnership firm
 
 - TCI Properties (Guj) – Partnership firm - TCI Properties (South) –
 Partnership firm
 
 - TCI Properties (Delhi) – Partnership firm - TCI Properties (NCR) –
 Partnership firm
 
 - TCI Developers Ltd.  -TCI Infrastructure Ltd.
 
 - TCI Properties (West) Ltd.
 
 iv. Subsidiaries/Step Down Subsidiaries:
 
 - PTTCI Global, Indonesia - TCI Global (HKG) Ltd., Hong Kong
 
 - TCI Global (Thailand) Co. Ltd., Thailand - TCI Developers Ltd.
 (previous year)
 
 - TCI Global Pte Ltd., Singapore - TCI Global Logistik Gmbh, Germany
 
 - TCI Global (Sanghai) Co. Ltd., China - Transport Co of India
 (Mauritius) Ltd., Mauritius
 
 - TCI Holdings Asia Pacific Pte. Ltd., Singapore - TCI Express Pte.
 Ltd., Singapore
 
 - TCI Global Netherlands B.V., Netherlands - TCI Global (Malaysia) Sdn
 Bhd, Malaysia
 
 - TCI Scan Denmark ApS, Denmark - TCI Global Brazil Logistica Ltda,
 Brazil
 
 - TCI Global Holdings (Mauritius) Ltd., Mauritius - TCI Holdings
 Netherlands B.V., Netherlands
 
 - TCI Distribution Centres Ltd.  - TCI Infrastructure Ltd.(previous
 year)
 
 - TCI Properties (Pune) Ltd.  - TCI Properties (West) Ltd. (previous
 year)
 
 - Infinite Logistics Solutions Pvt. Ltd.
 
 v.  Joint ventures:
 
 - Ann-Sofie Scan ApS, Denmark - Transystem Logistics International Pvt.
 Ltd Ann-Sofie Scan ApS is a joint venture incorporated in Denmark in
 partnership with a few other shareholders, in which Transport
 Corporation of India Ltd. (TCI) holds 50% of equity. Ann-Sofie Scan ApS
 is engaged in the business of shipping.
 
 6. Estimated amount of contracts remaining to be executed on capital
 account and not provided for Rs. 29.73 million.
 
 7.  In respect of assets given under non-cancelable operating lease,
 the future minimum lease payments, as on 31st March 2011 is Nil.
 
 8.  Previous years figures have been regrouped/ rearranged wherever
 considered necessary.
 
 9.  Contingent liability not provided forinrespect of: Rupeesinmillion
 
 Particulars                   31st March 2011    31st March 2010
 
 a) Trade Tax/ Octroi/ Duty/ ESI 
 and other demands under dispute     37.80           19.47
 
 b) Guarantees and Counter
     Guarantees Outstanding         302.20          303.39
 
 c) Income Tax demands under
    dispute                         336.97          154.13
 
 10. In accordance with Accounting Standard (AS 15) Employee Benefits”,
 adequate provisions have been made in the accounts and there is no
 further liability expected on this account.