Scheduleforming part of the Balance Sheet - Domain-b

Annual Report 2007-2008
Notes on Consolidated Balance Sheet and Profit and Loss Account (Contd.)
iii) Associates
Name of the Company Country of Holding(%)
Incorporation 2007-08 2006-07
Domestic
Ideal Ice & Cold Storage Co. Ltd. ** India 34.99 34.99
Benaras Hotels Ltd. India 49.53 49.53
Taj Air Ltd. India 45.64 45.64
Piem Hotels Ltd. India 46.20 46.20
Taj Trade and Transport Ltd. India 46.62 46.62
Taj Enterprises Ltd. India 44.60 44.60
Taida Trading and Industries Ltd. ** India 41.50 41.50
Inditravel Pvt. Ltd. India 47.08 47.08
Oriental Hotels Ltd. * India 33.80 33.80
Taj Madurai Ltd. India 26.00 26.00
International
Taj Lanka Resorts Ltd. (TLRL) Sri Lanka 24.16 24.16
Taj Lanka Hotels Ltd. (TLHL) Sri Lanka 24.62 24.62
* Including 5.25% of the shares held in the form of Global Depository Receipts (GDR).
** Investments in these Associates have been reported at NIL value as the Company’s share of losses exceeds
the carrying amount of investments.
(c) In the case of the following Jointly Controlled Entities, unaudited financial statements, as certified by the
Management, have been considered in the consolidated financial statements. The adoption of the accounts by the
Board of Directors of these companies is pending :
i. Taj Asia Ltd.
ii. Taj International Hotels (South Africa)(Pty) Ltd.
(d) The following amounts are included in the Financial Statements in respect of the Jointly Controlled Entities, based
on the proportionate consolidation method prescribed in the Accounting Standard relating to ‘Financial Reporting
of Interest in Joint Ventures’ (AS 27), as notified by the Companies (Accounting Standards) Rules, 2006 :-
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