Scheduleforming part of the Balance Sheet - Domain-b

The Indian Hotels Company Limited
20
M/s. Deloitte Haskins & Sells and M/s. N.M. Raiji & Company as Joint Auditors. The Members are requested to appoint
M/s. Deloitte Haskins & Sells, Chartered Accountants, Mumbai and re-appoint M/s. N.M. Raiji & Co., Chartered Accountants,
Mumbai as Joint Auditors for the current year and authorise the Board of Directors to fix their remuneration.
FOREIGN EXCHANGE EARNINGS AND OUTGO
As required under Section 217(1)(e) of the Companies Act, 1956, read with rule 2 of the Companies (Disclosure of Particulars in
the Report of the Board of Directors) Rules, 1988, the information relating to foreign exchange earnings and outgo is in Note Nos.
18, 19, 20 & 21 of the Notes to the Accounts.
STAFF
As required by Section 217(2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975, a
statement of information relating to the employees has been given in the Annexure to the Report and forms a part of it.
The Board desires to place on record, its appreciation to all employees of the Company who during the year under review with
sustained dedicated effort enabled the Company to deliver a good all-round record performance.
DIRECTORS’ RESPONSIBILITY STATEMENT
Pursuant to the provisions of Section 217(2AA) of the Companies Act, 1956, the Board of Directors, based on the representations
received from the Operating Management, hereby confirms that:
i. in the preparation of the annual accounts, the applicable accounting standards have been followed and that there are no
material departures;
ii. it has in the selection of the accounting policies, consulted the Statutory Auditors and has applied them consistently and
made judgements and estimates that are reasonable and prudent, so as to give a true and fair view of the state of affairs of the
Company as at March 31, 2008 and of the profit of the Company for that period;
iii. it has taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions
of the Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities, to the
best of its knowledge and ability. There are however, inherent limitations, which should be recognized while relying on any
system of internal control and records; and
iv. it has prepared the annual accounts on a going concern basis.
GLOBAL COMPACT
As part of the Tata Group, your Company had signed up to promote the United Nations “Global Compact” which lays down ten
key principles to specifically address issues in the areas of human rights, labour, corruption and the environment. Your Company
continues to be an active member of Global Compact. Your Company annually submits a ‘Corporate Sustainability Report’
detailing its economic, environmental and social performance.
Mumbai, June 23, 2008
Registered Office:
Mandlik House
Mandlik Road
Mumbai 400 001.
On behalf of the Board of Directors
Ratan N. Tata
Chairman