1.  Background
 
 WABCO- TVS (INDIA) Limited (the Company) was incorporated originally
 as Auto (India) Engineering Limited on 18th November 2004. The name of
 the company was changed to WABCO-TVS (INDIA) Limited on 3rd May 2007.
 The company is into its present business pursuant to the scheme of
 demerger of the brakes division of Sundaram-Clayton Limited into the
 company. The Company is primarily engaged in the manufacture of air
 brake actuation systems for commercial vehicles. The Company also
 provides software development services to the group companies of WABCO.
 
 On June 3, 2009, Clayton Dewandre Holdings Limited increased its
 percentage ownership to 75% by acquiring the shares from the other
 joint venture partner, TVS Group. Post acquisition, the Company has
 become a subsidiary of Clayton Dewandre Holdings Limited and the
 companys ultimate holding company is WABCO Holdings Inc.
 
                                                      (Rupees in lakhs)
 
                                                    As at/       As at/
                                                Year ended   Year ended
                                                31.03.2011   31.03.2010
 
 2.  Liability not provided for
 
 a) Contingent liabilities
 
 i) On counter guarantee given to bankers         37.92         1.80
 
 ii) On letters of credit opened with bankers     22.08        15.05
 
 iii) On account of future export obligations 
      (under Export Promotion                         –       327.43
 
 Capital Goods scheme and Advance Licence)
 
 iv) Bills discounted                          8,586.58     7,470.49
 
 
 3  Previous years figures have been regrouped wherever necessary to
 conform to current years classification.
 
 4.  Disclosure made in terms of clause 32 and clause 41of the lisiting
 agreement with stock exchanges
 
                                                       (Rupees in lakhs)
                                           Amount    Maximum      Amount
                                      outstanding amount due outstanding
 Particulars              Name of the       as on at any one       as on
                             company   31.03.2011       time  31.03.2010
                                                      during
                                                    the year
 
 (a) Loans and advances
 
 (i) Loans and advances 
     in the nature of       The company does not have any
     of loans made to       subsidiary.
     subsidiary company
 
 (ii) Loans and advances 
      in the nature of      The company does not have any
      loans made to         associate company.
      associate company
 
 (iii) Loans and advances   The company has not given any
       in the nature of     advance to firms/companies 
       loans made to firms/ in which directors of the
       companies in which   company are interested.
       directors of the 
       company are 
       interested 
 
 (b) Investments by the 
     company
 
 (i) In subsidiary companies  The company does not have any
                              subsidiary.
 
 (ii) In associate companies  The company does not have any
                              associate company.
 
 (iii) In joint venture       The company does not have any
                              joint venture.
 
 ( c) Investments by the 
      holding company         On 3rd June 2009, the company
                              became a subsidiary of Clayton 
                              Dewandre Holdings Limited, 
                              Rotterdam, The Netherlands, 
                              when the latter acquired 35.83% 
                              of share capital and is now 
                              holding 75 % of share capital.
 
 5.  Related party disclosure 
 
 LIST OF RELATED PARTIES
 
 a) Reporting entity      WABCO-TVS (INDIA) Limited
 
 b) Subsidiary companies  The reporting entity does not have any
                          subsidiary company.
 
 c) Associate companies   Nil
 
 d) Holding company       Clayton Dewandre Holdings Limited, (CDH) 
                          Rotterdam, The Netherlands (became a 
                          subsidiary of this company from 
                          3rd June 2009)
 
 e) Ultimate holding 
    company               WABCO Holdings Inc., USA
 
 f) Fellow Subsidiary 
    companies           1 WABCO Fahrzeugsysteme,GmbH, Germany
 
                        2 WABCO China Co Ltd, China
 
                        3 WABCO France SAS, France
 
                        4 Meritor WABCO Vehicle Control Systems, 
                          USA
 
                        5 Shandong Weiming Automotive Products Co. 
                          Ltd, China
 
                        6 WABCO (Shanghai) Management Co Limited, 
                          China
 
                        7 WABCO Automotive SouthAfrica
 
                        8 WABCO Automotive UK Ltd, United Kingdom
 
                        9 WABCO Asia Private Limted, Singapore 
                          (Direct subsidiary of CDH)
 
                       10 WABCO Compressor Manufacturing Co. USA
 
                       11 WABCO Hong Kong Limited, Hong Kong
 
                       12 WABCO Japan Inc, Japan
 
                       13 WABCO Korea Ltd, Korea
 
                       14 WABCO Polska Sp.z o.o. Poland
 
                       15 WABCO Development GmbH, Germany
 
                       16 WABCO Logistics GmbH, Germany
 
                       17 WABCO Australia Pty Limited, Australia 
                          (Subsidiary of CDH through
                          WABCO Asia Private Limited)
 
                       18 WABCO Europe BVBA, Belgium
 
                       19 WABCO Austria GesmbH, Austria
 
                       20 WABCO Belgium BVBA/SPRL, Belgium
 
                       21 WABCO do Brasil Industria e Comercio 
                          de Freios Ltda, Brazil
 
                       22 WABCO Brzdy K Vozidlum spol S.R.O, 
                          Czech Republic
 
                       23 WABCO GmbH, Germany
 
                       24 WABCO Radbremsen GmbH, Germany
 
                       25 WABCO Automotive Italia SRL, Italy
 
                       26 WABCO BV, Netherlands
 
                       27 WABCO Europe Holdings BV, Netherlands
 
                       28 WABCO Espana SLU, Spain
 
                       29 WABCO Automotive AB, Sweden
 
                       30 WABCO (Schweiz) GmbH, Switzerland
 
                       31 WABCO Automotive B.V, Netherlands
 
                       32 WABCO ARAC Kontrols Sistemleri Destek 
                          VE Pazarlama Limited Sirketi , Turkey
 
                       33 WABCO Middle East and Africa FZCO, Dubai
 
                       34 WABCO Centro de Distribuicao de pecas 
                          Automotives Ltda, Brazil
 
                       35 WABCO Foundation Brakes Private Limited, 
                          Chennai (Subsidiary of CDH through 
                          WABCO Asia Private Limited)
 
                       36 WABCO IP Holdings LLC
 
                       37 WABCO Automotive Products Ltd
 
                       38 WABCO Air Compressor Holdings Inc.,
 
                       39 WABCO Automotive Control Systems Inc.,
 
                       40 WABCO Group Inc.,
 
                       41 WABCO Group International Inc.,
 
 g) Key management 
    personnel             Mr.P Kaniappan - Whole Time Director 
                          (from 17-06-2009)
 
                          Mr C N Prasad - Whole Time Director 
                          (till 17-06-2009)
 
 
 Notes :
 
 1 The above statement has been prepared in indirect method except in
 case of dividend and investments which have been considered on the
 basis of actual movement of cash.
 
 2 Cash and cash equivalent include cash and bank balances.