As at        As at
                                         31.03.2011    31.03.2010 
                                        Rs. in Crores    Rs. in Crores
 
 1.   Commitments and Contingent Liabilities
 
 a)  Estimated amount of contracts 
 remaining to be executed on capital account
 and not provided for:
 
 i.  Capital Expenditure                    39.58          26.54
 
 ii.  Investments                           14.51         324.08
 
 b) Disputed Income-Tax demands from A.Y. 1993-94 to 2007-08 under
 appeal/ remand pending before various appellate/assessing authorities
 against which Rs.26.25 Cr. (Previous Year Rs.27.94 Cr.) has been deposited.
 The Balance of Rs.6.05 Cr. (Previous Year Rs. Nil) is not deposited for
 which rectification petitions/appeals have been filed. The Management
 is of the opinion that the above demands are not sustainable. 
                                            32.31          27.94
 
 c) Disputed Excise demand amounting to Rs.1.62 Cr. (Previous Year Rs.1.62
 Cr.) and penalty of Rs.1.22 Cr. (Previous Year Rs.1.22 Cr.) pertaining to
 financial years 1999-00 to 2004-05 under appeal pending before the
 Appellate Tribunal.  The same has not been deposited. The Management is
 of the opinion that the demand is arbitrary and the same is not
 sustainable.                                2.84           2.84
 
 d) Cases decided in favour of the Company against which the department
 has gone on an appeal
 
 i.  Income Tax                              3.28           2.55
 
 ii.  Excise                                 0.84           0.86
 
 e) Export obligation under EPCG/Advance License Scheme not yet
 fulfilled.                                 13.97          42.78
 
 The Company is confident of meeting its obligations under the Schemes
 within the Stipulated Period.
 
 Note:
 
 Show Cause Notices received from various Government Agencies pending
 formal demand notices, have not been considered as contingent
 liabilities.
 
 Also Refer Note 5 below.
 
 2.  Share Capital
 
 a) Status on GDRs
 
 The aggregate number of Global Depository Receipts (GDRs) outstanding
 as at 31 March 2011 is 65,30,630 (Previous Year 1,05,63,960) each
 representing one Equity Share of Rs.2 face value. The GDRs are listed on
 the Luxembourg Stock Exchange.
 
 b) Stock Options
 
 The Company has granted Stock Options to certain employees in line with
 the Employees Stock Option Scheme. The total number of such Options
 outstanding as at 31 March 2011 is 23,50,367 (Previous Year 28,81,054)
 and each Option is exercisable into One Equity Share of Rs.2 face value.
 
 c) Final Dividend including Dividend Distribution Tax for 2009-10
 
 Subsequent to the date of approval of the annual accounts by the Board
 and before the book closure date, 1,18,296 equity shares were allotted
 under the Tube Investments of India Limited Employee Stock Option
 Scheme to employees and dividend on these shares were paid. A total
 amount of Rs.0.02 Cr. including tax on dividend, has been appropriated
 from the opening balance of the Profit and Loss Account.
 
 3. Amalgamation of erstwhile TIDC India Limited with the Company
 
 In accordance with the Scheme of Arrangement, approved by the
 Honourable High Court of Madras vide its Order dated 30 November 2004,
 all the assets, liabilities and business of TIDC India Ltd., (TIDC),
 (formerly a subsidiary of the Company) were transferred to and vested
 in the Company, as a going concern, effective from 1 April 2004.
 Accordingly, 20,30,374 Equity Shares of Rs.10 each (Post-Split
 1,01,51,870 Equity Shares of Rs.2 each) held in the Company by TIDC was
 vested in a Trust, namely, TII Shareholding Trust, created for the
 purpose.
 
 The Trust had sold 57,50,000 Equity Shares in 2007-08 and the Net
 Surplus on Sale of Shares was credited to the Securities Premium
 Account.
 
 Pursuant to an application by the Company, the said Honourable High
 Court vide its order dated 11 February 2009 granted an extension of
 time till 14 December 2010 for the sale / disposal of the balance
 shares held by the Trust.
 
 The balance quantity of 44,01,870 shares have been sold during the year
 and the net surplus on sale of these shares has been credited to
 Securities Premium Account.
 
 Since the beneficiary of the Trust is the Company itself, the dividend
 distributed to the Trust relating to the Companys shares held by the
 Trust, has been credited back to the Profit and Loss Account on receipt
 of the same from the Trust.
 
 4. Other Expenses
 
 Other Expenses under Operating and Other Costs (Schedule 16) include
 
 i.  Contribution to A M M Murugappa Chettiar Research Centre Rs.0.35 Cr.
 (Previous Year Rs.0.15 Cr.)
 
 ii.  Contribution to A M M Foundation Rs.0.67 Cr. (Previous Year Rs.0.40
 Cr.)
 
 iii. Contribution to Bharatiya Janata Party - Rs. Nil (Previous Year
 Rs.0.50 Cr.)
 
 iv. Contribution to Mahindra World School Educational Trust - Rs.2.00 Cr.
 (Previous Year Rs.3.00 Cr.)
 
 v.  Other Donations Rs.0.07 Cr. (Previous Year Rs.0.10 Cr.)
 
 vi. Excise Duty Differential on Accretion to Stock - Credit Rs.0.39 Cr.
 (Previous Year Credit Rs.0.75 Cr.)
 
 5. Disclosure in respect of Related Parties pursuant to Accounting
 Standard 18: a) List of Related Parties
 
 I.  Subsidiary Companies
 
 Cholamandalam MS General Insurance Company Limited
 
 Cholamandalam Investment and Finance Company Limited (With effect from
 8 April 2010)
 
 Cholamandalam Distribution Services Limited, Cholamandalam Factoring
 Limited and Cholamandalam Securities
 
 Limited (Subsidiaries of Cholamandalam Investment and Finance Company
 Limited)
 
 Tubular Precision Products (Suzhou) Company Limited (Company
 Liquidated)
 
 TI Financial Holdings Limited
 
 TICI Motors (Wuxi) Company Limited (With effect from 24 December 2009)
 
 Financiere C10 SAS (With effect from 12 February 2010)
 
 Sedis SAS, Societe De Commercialisation De Composants Industriels -
 SARL (S2CI) and
 
 Sedis Co. Ltd. (Subsidiaries of Financiere C10 SAS)
 
 II.  Joint Venture Companies Cholamandalam MS Risk Services Limited
 
 III.  Key Management Personnel (KMP) Mr. L Ramkumar – Managing Director
 
 Note: Related party relationships are as identified by the Management
 and relied upon by the auditors.
 
 6.  Operating Leases
 
 The Company has operating lease agreements for office space and
 residential accommodation generally for a period of 3 to 8 years with
 option to renew with escalation. As per the lease terms a sum of Rs.5.22
 Cr. (Previous Year Rs.4.31 Cr.) has been recognised in the Profit and
 Loss Account.
 
 7.  Previous Years Figures
 
 Figures for the previous year have been re-grouped wherever necessary
 to conform to the current years presentation.