Indicate by
check mark whether the registrant files or will file annual reports under cover Form
20-F
or Form
40-F.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorised.
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Tata Motors Limited
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By:
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/s/ Hoshang K Sethna
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Name: Hoshang K Sethna
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Title: Company Secretary
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Dated: October 13, 2017
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Item 1
TATA MOTORS LIMITED
Bombay
House
24, Homi Mody Street,
Mumbai 400 001, Maharashtra, India
Notice of the Meeting of the Equity Shareholders of Tata Motors Limited to be
convened pursuant to the directions of the Hon’ble National Company Law
Tribunal, Mumbai Bench
October
13, 2017, Mumbai:
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015,
enclosed herewith is the Notice dated October 11, 2017 for convening the Meeting of the Equity Shareholders of Tata Motors Limited, as directed by the Hon’ble National Company Law Tribunal, Mumbai Bench for the purpose of considering, and
if thought fit, approving with or without modification(s), the proposed Scheme of Merger and Arrangement between TML Drivelines Limited (“Transferor Company”) and Tata Motors Limited (“Transferee Company”) and their respective
Shareholders.
This is for the information of the exchange and the members.
Corporate Identification No. (CIN) - L28920MH1945PLC004520 Registered Office: Bombay House, 24, Homi Mody Street, Mumbai—400 001
Tel: +91 22 6665 8282 Fax: +91 22 6665 7799
E-mail:
inv_rel@tatamotors.com Website: www.tatamotors.com NOTICE TO EQUITY SHAREHOLDERS MEETING OF THE EQUITY SHAREHOLDERS OF TATA MOTORS LIMITED CONVENED PURSUANT
TO THE DIRECTIONS OF THE HON’BLE NATIONAL COMPANY LAW TRIBUNAL, MUMBAI BENCH Day Wednesday Date November 15, 2017 Time 3:00 p.m. Venue Walchand Hirachand Hall, 4th Floor, Indian Merchants’ Chamber (IMC), IMC Building, IMC Marg,
Churchgate, Mumbai—400 020 POSTAL BALLOT AND
E-VOTING
Commencing on Monday—October 16, 2017 (IST 9:00 a.m.) Ending on Tuesday—November 14, 2017 (IST 5:00 p.m.) Sr. No. Contents Page No. 1.
Notice of Meeting of the Equity Shareholders of Tata Motors Limited convened as per the directions of the Hon’ble National Company Law Tribunal, Mumbai Bench 2—3 2. Explanatory Statement under Section 230(3) read with Section 102
and other applicable provisions of the Companies Act, 2013 4—7 3. Scheme of Merger and Arrangement under Sections
230-232
of the Companies Act, 2013 8—14 4. Accounting Statements of the Transferor
Company and the Transferee Company as on June 30, 2017 15—20 5. Report adopted by the Board of Directors of the Transferee Company as required under Section 232(2)(c) of the Companies Act, 2013 21 6. Attendance Slip and Proxy Form 23
7. Postal Ballot Form with instructions and Business Reply Envelope Loose leaf insertion
BEFORE THE NATIONAL COMPANY LAW TRIBUNAL, BENCH AT MUMBAI COMPANY SCHEME APPLICATION NO. 706 OF 2017 In the matter of the Companies Act,
2013; And In the matter of Application under Sections
230-232
read with other relevant provisions of the Companies Act, 2013; And In the matter of Scheme of Merger and Arrangement between TML Drivelines
Limited (“Transferor Company”) and Tata Motors Limited (“Transferee Company” or “the Company”) and their respective Shareholders. Tata Motors Limited [CIN: L28920MH1945PLC004520], ) a company incorporated under the
Indian Companies Act,) 1913 having its Registered Office at Bombay House, ) 24 Homi Mody Street, Mumbai 400001 )... Applicant Company NOTICE CONVENING MEETING OF THE EQUITY SHAREHOLDERS OF TATA MOTORS LIMITED, THE APPLICANT COMPANY To The Equity
Shareholders of Tata Motors Limited TAKE NOTICE THAT by Order dated June 28, 2017 modified by Orders dated August 23, 2017 and September 15, 2017 in the above mentioned Company Scheme Application (the “Order”), the
Hon’ble National Company Law Tribunal, Mumbai Bench (“the Tribunal” or “NCLT”) has directed that a Meeting of the Equity Shareholders of the Company be convened at Walchand Hirachand Hall, 4th Floor, Indian Merchants’
Chamber (IMC), IMC Building, IMC Marg, Churchgate, Mumbai—400 020 on Wednesday, November 15, 2017 at 3:00 p.m. for the purpose of considering, and if thought fit, approving with or without modification(s), the proposed Scheme of Merger and
Arrangement between TML Drivelines Limited (“Transferor Company”) and Tata Motors Limited (“Transferee Company” or “the Company”) and their respective Shareholders (“the Scheme”). TAKE FURTHER NOTICE that in
pursuance of the said Orders and as directed therein, a Meeting of the Equity Shareholders of the Company will be held at Walchand Hirachand Hall, 4th Floor, Indian Merchants’ Chamber (IMC), IMC Building, IMC Marg, Churchgate, Mumbai -400020on
Wednesday, November 15, 2017 at 3:00 p.m. at which place, day, date and time, you are requested to attend. TAKE FURTHER NOTICE that you may attend and vote at the Meeting in person or by proxy, provided that all proxies in the prescribed form
are deposited at the Registered Office of the Company at Bombay House, 24, Homi Mody Street, Mumbai—400 001 not later than 48 hours before the scheduled time of Meeting. TAKE FURTHER NOTICE that copy of the Scheme, the Explanatory Statement
under Section 230(3) read with Section 102 of the Companies Act, 2013, Form of Proxy, Attendance Slip and Postal Ballot Form as stated in the Index are enclosed herewith. Copy of the Scheme, Explanatory Statement under Section 230 of
the Companies Act, 2013 and Form of Proxy can be obtained free of charge at Tata Motors Limited, Fort House, Dr. Dadabhai Navroji Road, Mumbai 400 001 between 11:00 a.m. to 4:00 p.m., on any working day (except Saturdays, Sundays and public
holidays). The Hon’ble Tribunal has appointed Mr N Chandrasekaran, Chairman, or in his absence, Mr Nasser Munjee, Independent Director, or in his absence, Mr Guenter Butschek, Chief Executive Officer & Managing Director, or in his
absence, Mr Satish Borwankar, Executive Director and Chief Operating Officer to be the Chairman of the Meeting. The above Scheme, if approved by the Equity Shareholders, will be subject to the subsequent approval of the Hon’ble Tribunal. In
accordance with the applicable regulatory provisions, in addition to casting of votes at the Meeting, the Company has provided the Shareholders with the facility of casting their votes either by way of postal ballot or by way of remote
e-voting
using facility offered by the National Securities Depository Limited (NSDL). The Shareholders may refer to the “Notes” to this Notice for further details on postal ballot and remote
e-voting.
The Audit Committee and the Board of Directors of the Applicant Company at their Meetings held on February 13, 2017 and March 30, 2017 respectively, have approved the Scheme, subject to approval
by the requisite majority of the Shareholders of the Applicant Company as may be required and subject to the sanction of the Hon’ble Tribunal and of such other authorities as may be necessary. The voting rights of Shareholders shall be in
proportion to their Shareholding in the Company as on the close of business hours on Saturday, September 30, 2017
(“Cut-off
Date”). The Equity shareholders are requested to consider, and if
thought fit to pass, with or without modification(s), the following resolution under Sections 230 to 232 of the Companies Act, 2013 (including any statutory modification(s) thereof for the time being in force): “RESOLVED THAT pursuant to the
provisions of Sections 230 to 232 of the Companies Act, 2013 (including any statutory modification(s) thereof for the time being in force), and other applicable provisions of the Memorandum and Articles of Association of the Company, and subject to
the approval of the Mumbai Bench of the Hon’ble National Company Law Tribunal, and subject to such other approvals, permissions and sanctions of regulatory and other authorities, as may be necessary and subject to such conditions and
modifications as may be prescribed or imposed by the Mumbai Bench of the Hon’ble National Company Law Tribunal or by any regulatory or other authorities, while granting such consents, approvals and permissions, which may be agreed to by the
Board of Directors of the Company (hereinafter referred to as the “,Board”, which term shall be deemed to mean and include one or more Committee(s) constituted/ to be constituted by the Board or any other person authorised by it to
exercise its powers including the powers conferred by this Resolution), the arrangement embodied in the Scheme of Merger and Arrangement between TML Drivelines Limited (“Transferor Company”) and Tata Motors Limited (“Transferee
Company” or “Applicant Company” or “the Company”) and their respective Shareholders (“Scheme”) placed before this Meeting and initialled by the Chairman of the Meeting for the purpose of identification, be and is
hereby approved. RESOLVED FURTHER THAT the Board be and is hereby authorized to do all such acts, deeds, matters and things, as it may, in its absolute discretion deem requisite, desirable, appropriate or necessary to give effect to this resolution
and effectively implement the arrangement embodied in the Scheme and to accept such modifications, amendments, limitations and/or conditions, if any, which may be required and/or imposed by the Mumbai Bench of the Hon’ble National Company Law
Tribunal while sanctioning the arrangement embodied in the Scheme or by any authorities under law, or as may be required for the purpose of resolving any doubts or difficulties that may arise in giving effect to the Scheme, as the Board may deem fit
and proper.” N Chandrasekaran (DIN:00121863) Chairman appointed for the Meeting Mumbai, October 11, 2017 Registered Office: Bombay House, 24, Homi Mody Street, Mumbai 400 001 Tel: +91 22 6665 8282. Fax: +91 22 6665 7799 Email:
inv_rel@tatamotors.com; Website: www.tatamotors.com CIN—L28920MH1945PLC004520 Notes:- 1. All alterations made in the Form of Proxy should be initialled. 2. Only registered Equity Shareholders of the Company may attend and vote (either in person
or by proxy or by Authorised Representative under Section 113 of the Companies Act, 2013) at the Meeting. The Authorized Representative of a body corporate which is a registered Equity Shareholder of the Company may attend and vote at the
Meeting provided a certified true copy of the resolution of the Board of Directors under Section 113 of the Companies Act, 2013 or other governing body of the body corporate authorizing such representative to attend and vote at the Equity
Shareholders’ Meeting is deposited with the Company at its Registered Office not later than 48 hours before the Meeting. 3. A Member entitled to attend and vote at the Meeting is entitled to appoint a proxy to attend and vote instead of himself
and such proxy need not be a Member of the Company. Proxies in order to be effective must be received by the Company at its Registered Office not later than 48 hours before the scheduled time of the Meeting. 4. A person can act as a proxy on behalf
of Members not exceeding 50 (fifty) and holding in the aggregate not more than 10% of the total Share Capital of the Company carrying voting rights. A Member holding more than 10% of the total Share Capital of the Company carrying voting rights may
appoint a single person as a proxy and such person shall not act as a proxy for any other person or Member. 5. It is further clarified that the Proxies can only vote on Poll at the Meeting and not through any other mode. 6. Only registered Members
(including the holders of ‘A’ Ordinary Shares) of the Company may attend and vote at the Meeting. The holders of the American Depositary Receipts (the “ADRs”) of the Company shall not be entitled to attend the said Meeting.
However, the ADR holders are entitled to give instructions for exercise of voting rights at the said Meeting through the Depositary, to give or withhold such consent, to receive such notice or to otherwise take action to exercise their rights with
respect to such underlying shares represented by each such ADR. A brief statement as to the manner in which such voting instructions may be given is being sent to the ADR holders by the Depositary.
7. A Member or his/her Proxy is requested to bring the copy of the Notice to the Meeting and produce the Attendance Slip, duly completed
and signed, at the entrance of the Meeting venue. 8. Members who hold shares in dematerialized form are requested to bring their Client ID and DP ID number for easy identification of attendance at the Meeting. 9. Members are informed that in case of
joint holders attending the Meeting, only such joint holder whose name stands first in the Register of Members of the Company/list of Beneficial Owners as received from NSDL/Central Depository Services (India) Limited (“Depositories”) in
respect of such joint holding will be entitled to vote. 10. The Notice is being sent to all the Members whose names appear in the Register of Members/Beneficial Owners as per the details furnished by the Depositories as on September 30, 2017
(“cut-off
date”). This Notice of the NCLT Convened Meeting of Members of the Company is also displayed / posted on the website of the Applicant Company at www.tatamotors.com and on the website of NSDL at
www.evoting.nsdl.com. 11. The voting rights of the Ordinary Shareholders shall be in the same proportion to the paid up Ordinary Share Capital and in case of voting rights on the ‘A’ Ordinary shares, the holder shall be entitled to one
vote for every ten TV Ordinary shares held as on the
cut-off
date. 12. In compliance with the provisions of (i) Section 230(4) read with Sections 108 and 110 of the Companies Act, 2013; (ii) Rule 20
and Rule 22 of the Companies (Management and Administration) Rules, 2014; (iii) Regulation 44 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015; and (iv) Secretarial
Standards—2 on General Meetings, the Company has also provided the facility to the Shareholders to cast their votes either by way of postal ballot or through remote
e-voting
facility arranged through
NSDL, prior to the Meeting. A member who has not availed the said facility can vote at the Meeting by using an electronic voting system provided by NSDL. 13. Member(s) can opt only for one mode of voting. If a Member has opted for remote
e-voting,
then he/she should not vote by postal ballot and vice- versa. However, in case Members cast their vote both through postal ballot and remote
e-voting,
then voting
through remote
e-voting
shall prevail and voting done by postal ballot shall be treated as invalid. Further, such voting undertaken prior to the meeting does not disentitle the member from attending the
meeting. Shareholder after exercising his right to vote through postal ballot or remote
e-voting
shall not be allowed to vote again at the Meeting. 14. The voting period for postal ballot and remote
e-voting
shall commence on and from Monday, October 16, 2017 at 9.00 a.m. (1ST) and shall end on Tuesday, November 14, 2017 at 5.00 p.m. (1ST). 15. A postal ballot form along with self-addressed postage
pre-pa
id envelope is also enclosed. Members are requested to carefully read the instructions printed in the Postal Ballot Form and return the form duly completed with assent (for) or dissent (against), in the
attached Business Reply Envelope, so as to reach the Scrutinizer on or before November 14, 2017 at 5.00 p.m. (1ST). 16. Members who have received the Notice by
e-mail
and who wish to vote through postal
ballot, can download the postal ballot form from the Company’s website www.tatamotors.com. In case a Member is desirous of obtaining a printed duplicate postal ballot form, he or she may send an
e-mail
to
tmlballot2017@tsrdarashaw.com. The Registrar and Share Transfer Agent shall forward the same along with postage prepaid self-addressed Business Reply Envelope to the Member. 17. No other form or photocopy of the postal ballot form is permitted. 18.
The particulars as required under Rules 20 and 22 of the Companies (Management and Administration) Rules, 2014 with regard to the postal ballot shall be published through an advertisement in the “Free Press Journal” in English language and
“Navshakti” in the Marathi language, both having circulation in Mumbai. 19. In case of Equity Shares held by companies, trusts, societies, etc., the duly completed postal ballot form should be accompanied by a certified true copy of the
Board Resolution / Authority. 20. Relevant documents referred to in the Notice and the Explanatory Statement are open for inspection by Members of the Company at Tata Motors Limited, Fort House, Dr. Dadabhai Navroji Road, Mumbai 400 001 between
11:00 a.m. to 4:00 p.m. on all working days (except Saturdays, Sundays and public holidays) up to the date of the Meeting. The said documents shall also be available for inspection at the venue of the Meeting. 21. The instructions for Members for
e-voting
are as under: (A) In case of Members receiving the Ballot Form by
e-mail:
(i) Open
e-mail
and open PDF file viz;
“TML
e-Voting.pdf”
with your Client ID or Folio No. as password. The said PDF file contains your user ID and password for
e-voting.
Please note that the
password is an initial password. (ii) Launch internet browser by typing the following URL: https:// www.evoting.nsdl.com/ (iii) Click on “Shareholder—Login”. (iv) Insert user ID and password as initial password noted in step
21 (A) (i) above. Click “Login” NOTE: Shareholders who forgot the User Details/Password can use “Forgot User Details/Password” or “Physical User Reset Password” option available on www.evoting.nsdl.com. In case
Shareholders are holding shares in demat mode,
USER-ID
is the combination of (DPID+ClientID). In case Shareholders are holding shares in physical mode,
USER-ID
is the
combination of (EVEN No+Folio No). (v) “Password change” menu appears. Change the password with new password of your choice with minimum 8 digits/characters or combination thereof. Note new password. It is strongly recommended not to share
your password with any other person and take utmost care to keep your password confidential. (vi) Home page of
“e-Voting”
opens. Click on
“e-Voting:
Active
E-voting
Cycles”. (vii) Select “EVEN” (Electronic Voting Event Number) of Tata Motors Limited. Kindly note that there are separate EVEN for Ordinary Shares (ISIN—INE155A01022) and
for “A” Ordinary Shares (ISIN—IN9155A01020). In case you are holding both classes of shares, please complete your voting for one EVEN and then cast your vote for another EVEN. (viii) Now you are ready for
e-Voting
as “Cast Vote” page opens. (ix) Cast your vote by selecting appropriate option and click on “Submit” and also click on “Confirm” when prompted. (x) Upon confirmation,
the message “Vote cast successfully” will be displayed. (xi) Once you have voted on the resolution, you will not be allowed to modify your vote. (xii) For the votes to be considered valid, the corporate and institutional
shareholders (companies, trusts, societies, etc.) are required to send a scanned copy (PDF/JPG format) of the relevant Board Resolution/Appropriate Authorization etc. together with attested specimen signature of the duly authorized signatory (ies),
to the Scrutinizer through
e-mail
at cs@parikhassociates. com with a copy marked to evoting@nsdl.co.in. (B) In case of Members receiving Ballot Form by Post: (i) User ID and initial password is
provided at serial nos. 6 and 7 of the Postal Ballot Form. (ii) Please follow all steps from Sr. No. 21A (ii) to 21A (xii) above, to cast your vote. (C) If you are already registered with NSDL for
e-voting
then you can use your existing user ID and password for Login to cast your vote. (D) In case of any queries, you may refer to the’Frequently Asked Questions’ (FAQs) for Shareholders and
e-voting
user manual for Shareholders available at the Downloads section of NSDL’s
E-Voting
website: www. evoting.nsdl.com or call on toll free no
1800-222-990.
In order to address any grievances relating to
e-voting,
you may write to Mr. Rajiv Ranjan, Asst. Manager, National
Securities Depository Limited, Trade World, ‘A’ Wing, Kamala Mills Compound, Senapati Bapat Marg, Lower Parel, Mumbai 400 013 at the designated email id at evoting@nsdl. co.in or rajivr@nsdl.co.in or at the following telephone no. 022 2499
4600 or tmlballot2017@tsrdarashaw.com. (E) The period for
e-voting
starts on Monday, October 16, 2017 at 9.00 a.m. (1ST) and ends on Tuesday, November 14, 2017 at 5.00 p.m. (1ST).
E-voting
shall be disabled by NSDL at 5:00 p.m. on Tuesday, November 14, 2017. 22. The Board of Directors have appointed Mr P N Parikh (Membership No. FCS 327) and failing him Mr Mitesh Dhabliwala (Membership
No. FCS 8331) of M/s Parikh & Associates, Practising Company Secretaries to act as Scrutinizer to scrutinize votes cast either through remote
e-voting
or on postal ballot or on poll at the Meeting and
submit a report on votes cast to the Chairman of the Meeting. 23. The result of the voting shall be announced by the Chairman of the Meeting or any other person authorised by him on or before November 17, 2017, upon receipt of
Scrutinizer’s report and same shall be displayed on the website of the Company at www.tatamotors.com and on NSDL website at www.evoting.nsdl.com besides being sent to BSE Limited, National Stock Exchange of India Limited, New York Stock
Exchange and Singapore Stock Exchange on the said date.
BEFORE THE NATIONAL COMPANY LAW TRIBUNAL, BENCH AT MUMBAI COMPANY SCHEME APPLICATION N0.706 OF 2017 In the matter of the Companies Act,
2013; And In the matter of Application under Sections
230-232
read with other relevant provisions of the Companies Act, 2013; And I n the matter of Scheme of Merger and Arrangement between TML Drivelines
Limited (“Transferor Company”) and Tata Motors Limited (“Transferee Company” or “the Company”) and their respective Shareholders. Tata Motors Limited [CIN: L28920MH1945PLC004520], ) a company incorporated under the
Indian Companies ) Act, 1913 having its Registered Office at Bombay ) House, 24 Homi Mody Street, Mumbai 400001 ) ... Applicant Company EXPLANATORY STATEMENT UNDER SECTIONS 230(3), 232(2) AND 102 OF THE COMPANIES ACT, 2013 READ WITH RULE 6 OF THE
COMPANIES (COMPROMISES, ARRANGEMENTS AND AMALGAMATIONS) RULES, 2016 1. This is a statement accompanying the Notice convening the Meeting of the Equity Shareholders of the Applicant Company, pursuant to Order dated June 28, 2017 modified by
Orders dated August 23, 2017 and September 15, 2017 passed by the Hon’ble National Company Law Tribunal, Mumbai Bench in the Company Scheme Application No 706 of 2017, to be held at Walchand Hirachand Hall, 4th Floor, Indian
Merchants’ Chamber (IMC), IMC Building, IMC Marg, Churchgate, Mumbai—400020 on Wednesday, November 15, 2017 at 3:00 p.m. for the purpose of considering, and if thought fit, approving, with or without modification(s), the proposed
Scheme of Merger and Arrangement between the Company and TML Drivelines Limited and their respective shareholders for merger of TML Drivelines Limited with Tata Motors Limited (“the Scheme”). 2. A copy of the Scheme along with the Form of
Proxy is enclosed along with this Explanatory Statement. The proposed Scheme is envisaged to be effective from the Appointed Date (as defined in the Scheme) but shall be made operative from the Effective Date (as defined in the Scheme). 3. In this
statement, TML Drivelines Limited (CIN No. U34100MH2000PLC124874) (PAN No.AAACH7625P) is hereinafter referred to as “Transferor Company” and Tata Motors Limited (CIN No.L28920MH 1945PLC004520) (PAN No.AAACT2727Q) is hereinafter referred to
as “Transferee Company”. The other definitions contained in the Scheme shall also apply to this Explanatory Statement. MATERIAL FACTS OF THE TRANSFEROR COMPANY 4. The Transferor Company was incorporated on March 13, 2000 under the
provisions of the Companies Act, 1956 in the name of “HV Axles Private Limited.” Subsequently, the word ‘private’ was deleted under Section 43A of the Companies Act, 1956 and the name was changed to “HV Axles
Limited.” Pursuant to the Scheme of Amalgamation sanctioned by Order dated July 29, 2011 of Hon’ble High Court of Bombay, HV Transmissions Limited was amalgamated with HV Axles Limited and the name was changed to TML Drivelines
Limited. The Transferor Company is primarily engaged in the business of manufacturing Axles and parts thereof, Gearboxes and parts thereof and Crankshaft & Forgings for commercial vehicles. The Transferor Company is a wholly owned
subsidiary of the Transferee Company. 5. The Registered Office of the Transferor Company is at Nanavati Mahalaya, 18, Homi Mody Street, Hutatma Chowk, Mumbai 400001and
e-mail
ID is info_tmldl@tatamotors.com 6.
The main objects of Transferor Company as set out in the Memorandum of Association, are as under:- “1. To acquire and takeover as a going concern the business of Axles Division now carried on by Tata Engineering and Locomotive Company Limited
at Jamshedpur in Bihar State and anywhere else in India for Medium and Heavy Commercial Vehicles and all or any of the assets and liabilities in connection with this business of Tata Engineering and Locomotive Company Limited. 2. To carry on the
business of designing, manufacturing, assembling, selling, distributing, importing, exporting, letting on hire or leasing and dealing in all kinds of automotive transmissions and axles, gears, gear and axle parts, bearings, components, instruments,
appliances, equipment and apparatus for vehicles including commercial vehicles, cars, three wheelers, two wheelers, tractors, bulldozers and excavators. 3. To enter into joint ventures, technical collaborations, agency agreements, service agreements
and strategic
tie-ups
pertaining to the business of the Company.” 7. The relevant ancillary/incidental objects of Transferor Company as set out in its Memorandum of Association are as follows:- “1.
To acquire and undertake the whole or any part of the goodwill, business, concern, undertaking, property rights, assets and liabilities of any person, firm, association, society, company or corporation carrying on any business which the Company is
authorised to carry on or possessed of property suitable for the purpose of this Company or by cash or otherwise, or partly in one way and partly in another or other, and to conduct, expand and develop or wind up and liquidate such business and to
purchase and take such steps for the acquisition of existing and new licenses in connection with the main business of the Company. 13. To enter into partnership or any arrangement for sharing profits, amalgamation, union of interests, cooperation,
joint venture, reciprocal concession, or otherwise with any person or company carrying on or engaged in any business or transaction which this Company is authorised to carry on or to amalgamate with any other company having objects or being
interested in, hold, sell, deal, dispose of shares, debentures and securities or any such company. 14. To amalgamate with any company or companies having similar objects. 19. To purchase or otherwise acquire and undertake the whole or any part of
the business, property, rights, assets and liabilities of any person, firm or company carrying on business which the Company is Authorised to carry on, or possessed of property or rights suitable for any of the purpose of this Company.” 8. The
authorised, issued, subscribed and
paid-up
share capital of the Transferor Company as on June 30, 2017 is as under:- Particulars in crores Authorised 10,00,00,000 Equity Shares of 10 each 100 Total 100
Issued, subscribed and
paid-up
7,70,00,000 Equity Shares of 10 each 77 Total 77 As on date, there has been no change in the authorised, issued, subscribed and
paid-up
share capital of the Transferor Company. The shares of the Transferor Company are not listed on any stock exchange. 9. As on June 30, 2017, the Transferor Company has no secured creditors. 10. As on June 30, 2017, the Transferor Company
has 578 unsecured creditors and the total amount due and payable by the Transferor Company to the aforementioned unsecured creditors is 37,54,74,405/- (Rupees Thirty Seven Crores Fifty Four Lakhs Seventy Four Thousand Four Hundred and Five only).
11. The Transferor Company has never accepted any public deposits. 12. As on June 30, 2017, the Transferor Company has no Debentureholders. 13. Details of Promoters Name of Promoter Address Category Tata Motors Limited Bombay House, 24, Homi
Mody Street, Mumbai 400 001 Promoter 14. Details of Directors Name and Designation Address Mr Satish B Borwankar
Non-Executive
Chairman Pune Works, Pimpri, Pune—411 018 Mr Hoshang K Sethna
Non-Executive
Director Bombay House, 24 Homi Mody Street, Mumbai—400001 Dr Ajit K Jindal
Non-Executive
Director Pune Works, Pimpri, Pune—411 018 Mr Prasann Kumar
Chobe
Non-Executive
Director Pune Works, Pimpri, Pune—411 018 Dr Vaijayanti Pandit
Non-Executive,
Independent Director 30/09 Taj Building, A K Marg, Mumbai—400
036 Mr Rakesh Makhija
Non-Executive,
Independent Director A 702, Empress Tower, Sopan Baug, Pune—400001
MATERIAL FACTS OF THE TRANSFEREE COMPANY 15. The Transferee Company was originally incorporated on September 1, 1945 under the
provisions of the Indian Companies Act, 1913 as Tata Locomotive and Engineering Company Limited. The Transferee Company changed its name to “Tata Engineering and Locomotive Company Limited” on September 24, 1960 and further to
“Tata Motors Limited” on July 29, 2003. The Company is a public limited company, primarily engaged in the business of manufacturing of automobiles, which covers wide range of cars, sports vehicles, buses, trucks and defence vehicles.
The equity shares (Ordinary and ‘A’ Ordinary Shares) of the Transferee Company are listed on the BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE”). The Transferee Company’s ADRs represented
by underlying Ordinary Shares of the Company are listed on New York Stock Exchange (“NYSE”). The senior unsecured notes issued by the Transferee Company are listed on the Singapore Stock Exchange (“SGX”) and the debentures issued
by the Company are listed on the BSE and NSE under the Wholesale Debt Market Segment. 16. The Registered Office of the Transferee Company is at Bombay House, 24, Homi Mody Street, Mumbai 400001 and
e-mail
ID
is inv_rel@tatamotors.com. 17. The relevant objects of the Transferee Company as set out in its Memorandum of Association, are as under:- “1. To carry on the business of manufacturing, assembling, buying, selling,
re-selling,
exchanging, altering, importing, exporting, hiring, letting on hire, or distributing or dealing in locomotives, boilers, engines steam gas electrical or otherwise, turbines, tanks, motor vehicles,
trucks, lorries, omnibuses, buses, motorcycles, cycle cars, scooters, bicycles, tricycles, cycles, tractors, bulldozers and steam rollers of every description and kind and all component parts, spare parts, accessories, equipment and apparatus for
use in connection therewith. 45. To enter into partnership or into any arrangement for sharing or pooling profits, amalgamation, union of interests,
co-operation,
joint adventure, reciprocal concessions or
otherwise with any person, firm or company carrying on or engaged in or about to carry on or engage in any business or transaction which this Company is authorised to carry on or engage in, or any business undertaking or transaction which may seem
capable of being carried on or conducted so as directly or indirectly benefit this Company. 46. To amalgamate with any Company or Companies. 53. To sell and in any other manner deal with or dispose of the undertaking of the Company, or any part
thereof, for such consideration as the Company may think fit, and in particular for shares, debentures and other securities of any other company having objects altogether or in part similar to those of the Company. 64. To do all or any of the above
things and all such other things as are incidental or may be thought conducive to the attainment of the above objects or any of them in India or elsewhere in any other part of the world and as principals, agents, contractors, trustees or otherwise
and by or through trustees, agents or otherwise and either alone or in conjunction with others so that the word “Company” in this Memorandum when applied otherwise than to this Company shall be deemed to include any authority, partnership
or other body or persons, whether incorporated or not incorporated and the intention is that the objects set forth in each of the several paragraphs of this Clause shall have the widest possible construction and shall be in no wise limited or
restricted by reference to or inference from the terms of any other paragraph of this Clause or the name of Company” 18. The authorised, issued, subscribed and
paid-up
share capital of the Transferee
Company as on June 30, 2017 is as under:- Particulars in crores Authorised 350,00,00,000 Ordinary shares of 2 each 700.00 100,00,00,000 ‘A’ Ordinary shares of 2 each 200.00 30,00,00,000 Convertible Cumulative Preference shares
3,000.00 of100 each Total 3,900.00 Issued Share Capital 288,78,43,046 Ordinary shares of 2 each 577.57 50,87,36,110 ‘A’ Ordinary shares of 2 each 101.75 Total 679.32 Subscribed Capital 288,73,48,428 Ordinary shares of 2 each 577.47
50,85,02,291’A’Ordinary shares of 2 each 101.70 Total 679.17
Paid-up
capital 288,73,48,428 Ordinary Shares of 2 each 577.47 Less: Calls in arrears i. 310 Ordinary Shares of 2 each (1 outstanding on
each) * ii. 260 Ordinary Shares of 2 each (0.50 outstanding on each) * Add: Share Forfeiture iii. Paid up value of partly paid Ordinary Shares which had been forfeited in
1998-99
and 1999-2000 due to
non-receipt
of call monies 0.05 Ordinary Shares of 2 each 577.52 50,85,02,291 ‘A’ Ordinary Shares of 2 each 101.70 Grand Total 679.22 *Amount less than 50,000/- There has been a change in the subscribed
and
paid-up
share capital of the Transferee Company on account of 266 Ordinary Shares and 80 ‘A’ Ordinary Shares issued on settlement of certain abeyance cases on September 8, 2017. The Ordinary
Shares and ‘A’ Ordinary Shares are herein referred to as Equity Shares. 19. As on June 30, 2017, the Transferee Company has 86 secured creditors (including 61 debenture holders) and the total amount due and payable by the Transferee
Company to the aforementioned secured creditors is 36,21,87,05,128/- (Rupees Three Thousand Six Hundred Twenty One Crores Eighty Seven Lakhs Five Thousand One Hundred and Twenty Eight only) which includes debentures of 700,00,00,000/-. 20. As on
June 30, 2017, the Transferee Company has 9567 unsecured creditors (including 305 debenture holders) and the total amount due and payable by the Transferee Company to the aforementioned unsecured creditors is 225,54,61,87,173/- (Rupees Twenty
Two Thousand Five Hundred Fifty Four Crores Sixty One Lakhs Eighty Seven Thousand One Hundred and Seventy Three only) which includes debentures of 65,97,70,00,000/-. 21. The Company has not accepted any public deposits during FY
2016-17.
There were no overdues on account of principal or interest on public deposits other than the unclaimed deposits as at the end of FY
2016-17.
22. Details of Promoter
and Promoter Group Name of Promoter Address Category Tata Sons Limited Bombay House, 24, Homi Mody Street, Mumbai—400001 Promoter Tata Industries Limited Bombay House, 24, Homi Mody Street, Mumbai—400001 Promoter Group Tata Investment
Corporation Limited Elphinstone Building, 2nd Floor, Near Horniman Circle, 10, Veer Nariman Road, Mumbai—400001 Promoter Group Ewart Investments Limited Elphinstone Building, 1st Floor, 10, Veer Nariman Road, Mumbai—400001 Promoter Group
Tata Chemicals Limited Bombay House, 24, Homi Mody Street, Mumbai—400001 Promoter Group
Af-Taab
Investment Company Limited C/o The Tata Power Co. Ltd., Corporate Centre B Block, 34 Sant Tukaram Road,
Carnac Bunder, Mumbai—400009 Promoter Group Tata Steel Limited Bombay House, 24, Homi Mody Street, Mumbai—400001 Promoter Group Simto Investment Company Limited Elphinstone Building, 2nd Floor, Near Horniman Circle, 10, Veer Nariman Road,
Mumbai—400001 Promoter Group Sir Ratan Tata Trust Bombay House, Homi Modi Street, Mumbai—400001 Promoter Group Sir Dorabji Tata Trust Bombay House, 24, Homi Mody Street, Mumbai—400001 Promoter Group J R D Tata Trust Bombay House, 24,
Homi Mody Street, Mumbai—400001 Promoter Group Lady Tata Memorial Trust Bombay House, 24, Homi Mody Street, Mumbai—400001 Promoter Group
TATA MOTORS LIMITED 23. Details of Directors Name and Designation Address Mr Natarajan Chandrasekaran
Non-Executive
Chairman Tata Motors Limited, Bombay House, 24, Homi Mody Street, Mumbai 400 001 Dr Raghunath Mashelkar
Non-Executive,
Independent Director Global Research
Alliance, 3rd Floor, Adams Court, Above Bank of Baroda, Baner, Pune 411 045 Mr Nasser Munjee
Non-Executive,
Independent Director DCB Bank Ltd., Peninsula Business Park, Tower A, 6th Floor, Lower Parel, Mumbai
400 013 Mr Vinesh Jairath
Non-Executive,
Independent Director
194-B,
Kalpataru Horizon, S.K. Ahire Marg, Off Annie Besant Road, Worli, Mumbai 400 018 Ms Falguni Nayar
Non-Executive,
Independent Director FSN
E-Commerce
Ventures Pvt. Ltd., Cnergy IT Park, # A2, 4th Floor, Old Standard Mill Compound, Appa Saheb Marathe Marg, Prabhadevi, Mumbai
400 025 Dr Ralf Speth
Non-
Executive Director Jaguar Land Rover, Abbey Road, Coventry, CV3 4LF, United Kingdom Mr Om Prakash Bhatt
Non-Executive,
Independent Director
03, Ground Floor, Seagull, M L Dahanukar Marg, Mumbai 400026 Mr Guenter Butschek Chief Executive Officer & Managing Director Tata Motors Limited, Bombay House, 24, Homi Mody Street, Mumbai 400 001 Mr Ravindra Pisharody Executive Director
Tata Motors Limited, Bombay House, 24, Homi Mody Street, Mumbai 400 001 Mr Satish B Borwankar Executive Director and Chief Operating Officer Tata Motors Limited, Pimpri, Pune 411018 RATIONALE AND BENEFITS OF THE SCHEME 24. The Transferor Company is
a wholly owned subsidiary of the Transferee Company. The Scheme shall enable the Transferee Company to reap several benefits including synergy of operations for achieving organization effectiveness, optimisation of resources, reduction of statutory
and legal compliance requirements, overall cost management, greater integration and financial strength, greater level of synergy in the Goods and Service Tax (GST) regime, greater flexibility in respect of supply chain and
back-end
operations, streamlining the group structure and rationalization and developing stronger base for future growth. 25. The proposed Scheme shall result in optimisation of resources that is expected to bring
in cost effectiveness in operations. Manpower costs and other fixed expenses are likely to go down due to commonisation of support functions like, Purchase and Sourcing, Human Resources, Industrial Relations, Finance, Planning, etc. The optimisation
in the cost structure will give the combined entity a competitive edge. SALIENT FEATURES OF THE SCHEME 26. The salient features of the Scheme are as follows: a. The Scheme envisages the merger of the Transferor Company into the Transferee Company in
accordance with the provisions of Sections 230 to 232 of the Companies Act, 2013. b. The Appointed Date for the Scheme is April 1, 2017. c. The Effective Date means the date on which the certified or authenticated copies of the order(s)
sanctioning the Scheme, passed by the Tribunal is filed with the Registrar of Companies. d. Subject to the sanction of the Scheme, with effect from the Appointed Date, the Transferor Company shall, pursuant to the provisions contained in Sections
230 to 232 of the Companies Act, 2013, and all other applicable provisions, if any, without any further act, deed, matter or thing, be merged with the Transferee Company, or be deemed to have been merged with the Transferee Company, as a going
concern so as to become the estate, assets, rights, title, interest and authorities of the Transferee Company. e. Since the Transferor Company is a wholly owned subsidiary of the Transferee Company, upon this Scheme becoming effective, the shares
held by the Transferee Company (directly and/or through its nominees) in the Transferor Company will stand cancelled and no consideration whatsoever shall pass from the Transferee Company. f. Upon this Scheme becoming effective, the authorised share
capital of the Transferor Company shall be deemed to be added to the authorised share capital of the Transferee Company without any further act, instrument or deed or procedure or payment of any TATA stamp duty and registration fees. Accordingly,
upon the Scheme becoming effective, the authorized share capital of the Transferee Company shall stand enhanced to 4000 crores. Note: The aforesaid are only the salient features of the Scheme. Members are requested to read the entire text of the
Scheme annexed hereto and get fully acquainted with the provisions thereof. APPROVALS 27. The Scheme is conditional and subject to necessary sanctions and approvals as set out in the Scheme. 28. The Board of Directors of the Transferor Company has
at its Meeting held on February 13, 2017 approved the Scheme. Similarly, the Board of Directors of Transferee Company has at its Meeting held on March 30, 2017 approved the Scheme. The resolutions for the approval of the scheme were passed
by the Board of Directors of Transferor Company and Transferee Company with the unanimous vote of all the directors present at the respective meetings. 29. In view of the listing of the Transferee Company’s securities, the Transferee Company
has intimated BSE, NSE, SGX and NYSE of the proposed Scheme vide its letter dated June 20, 2017 along with a copy of the proposed Scheme. Since the proposed Scheme is between a parent and a wholly owned subsidiary, the same does not require the
prior approval of the Securities and Exchange Board of India or any of the stock exchanges. 30. A copy of the Scheme has been filed by the Company with the Registrar of Companies, Maharashtra. 31. No other approvals are required from any other
statutory authorities. EXTENT OF SHAREHOLDING OF DIRECTORS AND KEY MANAGERIAL PERSONNEL 32. The shareholding of the present Directors and Key Managerial Personnel (“KMPs”) of the Transferor Company in the Transferor Company and Transferee
Company as on September 30, 2017 are as follows: Name and Designation Shares held in the Transferor Company* Shares held in the Transferee Company Mr Satish B Borwankar
Non-Executive
Chairman 36 Equity
Shares 500 Ordinary Shares Mr Hoshang K Sethna
Non-Executive
Director 18 Equity Shares 2953 Ordinary Shares 813 ‘A’ Ordinary Shares Dr Ajit K Jindal
Non-Executive
Director 3120 Ordinary Shares 205 ‘A’ Ordinary Shares Mr Prasann Kumar Chobe
Non-Executive
Director - 1734 ‘A’ Ordinary Shares Dr
Vaijayanti Pandit
Non-Executive,
Independent Director - - Mr Rakesh Makhija
Non-Executive,
Independent Director - ‘ Mr Sampath Kumar Morri Chief Executive Officer -
1000 Ordinary Shares Mr Gurvinder Singh Ahuja Chief Financial Officer - - Mr Vispi S Patel Company Secretary 36 Equity Shares 795 Ordinary Shares 637 ‘A’ Ordinary shares *jointly held with Tata Motors Limited 33. The shareholdings of the
present Directors and KMPs of the Transferee Company in the Transferee Company and Transferor Company as on September 30, 2017 are as follows: Name and Designation Shares held in the Transferee Company Shares held in the Transferor Company* Mr
Natarajan Chandrasekaran
Non-Executive
Chairman - -
Dr Raghunath Mashelkar
Non-Executive,
Independent Director - - Mr Nasser Munjee
Non-Executive,
Independent Director Mr Vinesh Jairath
Non-Executive,
Independent Director Ms Falguni Nayar
Non-Executive,
Independent Director Dr Ralf Speth
Non-
Executive Director - - Mr Om Prakash Bhatt
Non-Executive,
Independent Director Mr Guenter Butschek Chief Executive Officer & Managing Director Mr Satish B Borwankar 500 36 Executive Director and Chief Operating Officer Ordinary Shares Equity Shares Mr
Ravindra Pisharody Executive Director - - Mr C Ramakrishnan Group Chief Financial Officer 2637 Ordinary Shares 2342 ‘A’ Ordinary Shares Mr H K Sethna 2953 18 Company Secretary Ordinary Shares 813 ‘A’ Ordinary Shares Equity Shares
*jointly held with Tata Motors Limited EFFECT OF THE SCHEME 34. Upon the coming into effect of the Scheme and with effect from the Appointed Date, the Undertaking of the Transferor Company shall, pursuant to the provisions of Sections 230 to 232 and
other applicable provisions, if any, of the Act, be and stand transferred to and vested in and/ or be deemed to have been transferred to and vested in the Transferee Company, as a going concern in accordance with Section 2(1B) and other
applicable provisions of the Income Tax Act,1961, without any further act, instrument, deed, matter or thing so as to become, as and from the Appointed Date, the undertaking of the Transferee Company, by virtue of and in the manner provided in this
Scheme. 35. Since the Transferor Company is a wholly owned subsidiary of the Transferee Company, upon the Scheme coming into effect, all equity shares of the Transferor Company held by the Transferee Company (directly and/or through nominees) shall
stand cancelled without any further application, act or deed. It is clarified that no new shares shall be issued or payment made in cash or in kind whatsoever by the Transferee Company in lieu of such shares of the Transferor Company. Consequently,
there would be no change in the shareholding pattern of the Transferee Company arising out of the Scheme. 36. Since the proposed Scheme does not involve any compromise or arrangement with the creditors, debenture holders or debenture trustee, the
rights of the creditors, debenture holders or debenture trustee shall not be affected by the Scheme. There will be no reduction in their claims on account of the Scheme. The creditors will be paid off in the ordinary course of business as and when
their dues are payable. There is no likelihood that the creditors would be prejudiced in any manner as a result of the Scheme being sanctioned. 37. There shall be no change in the terms of employment of the employees of the Transferor Company, to
their prejudice, and such employees of the Transferor Company shall be deemed to be employees of Transferee Company, without any break in service. 38. There will be no change in the Board of Directors or the KMPs of the Transferee Company on account
of this Scheme. The Transferor Company shall cease to exist and thus the question of any change in the Directors and KMPs of the Transferor Company does not arise. Apart from the above, the Scheme does not affect the material interests of any of the
KMPs, promoters, shareholders, creditors, debenture holders, debenture trustee or employees of the Transferor Company or the Transferee Company in any manner. GENERAL 39. The rights and interest of the Member of the Transferee Company and the
Transferor Company will not be prejudicially affected by the Scheme. 40. In compliance with the provisions of Section 232(2) of the Companies Act, 2013, the Board of Directors of the Company, at its meeting held on March 30, 2017, has
adopted a report, inter alia, explaining the effect of the Scheme on each class of shareholders, key managerial personnel, promoter and
non-promoter
shareholders. A copy of the report adopted by the Board of
Directors of the Transferee Company is enclosed. 41. In compliance with Section 232(2) of the Companies Act, 2013, a supplementary accounting statement for the quarter ended June 30, 2017, extracted from the Condensed Financial Statements
has been attached. For brevity’s sake the Schedules and notes to the Financial Statements have not been attached. The said Financial Statements are available on the website of the Transferor Company and the Transferee Company. 42. The Company
will make a Petition under Section 232 and other applicable provisions of the Companies Act, 2013 to the Hon’ble National Company Law Tribunal, Mumbai Bench for sanctioning of the Scheme. 43. There are no investigation proceedings under
the provisions of Chapter XIV of the Companies Act, 2013 and no winding up proceedings instituted and/or pending against the Transferor Company and/or the Transferee Company. 44. The Scheme does not involve any debt restructuring and therefore the
requirement to disclose details of debt restructuring is not applicable. 45. In the event that this Scheme is terminated or withdrawn in the manner set out in the scheme, this Scheme shall stand revoked, cancelled and be of no effect and null and
void and in such event each party hereto shall bear and pay respective costs, charges and expenses for and/or in connection with the Scheme. 46. Considering the rationale and benefits, the Board of Directors of the Transferee Company recommends the
Scheme as it is in the best interest of the Company and its stakeholders. 47. None of the Directors or KMPs are interested except upto the extent of their shareholdings in the Transferor Company and Transferee Company. 48. The following documents
will be open for inspection or for obtaining extracts of or making copies of, by the members and creditors of the Transferee Company at Tata Motors Limited, Fort House, Dr. Dadabhai Navroji Road, Mumbai 400 001 between 11:00 a.m. to 4:00 p.m.
on any working day (except Saturdays, Sundays and public holidays): a. Audited Condensed Financial Statements of the Transferee Company and the Transferor Company for FY
2016-17
and for quarter ended
June 30, 2017 along with the Auditor’s Report thereon; b. Copy of Orders dated June 28, 2017, August 23, 2017 and September 15, 2017 passed by the Hon’ble National Company Law Tribunal, Mumbai Bench directing convening
of the meeting of equity shareholders of the Transferee Company; c. Copy of the Scheme; d. Certificate issued by the Auditor of the Transferee Company confirming that the accounting treatment proposed in the Scheme is in conformity with the
Accounting Standards prescribed under Section 133 of the Companies Act, 2013; e. Memorandum and Articles of Association of the Transferor Company and the Transferee Company; and f. Copies of the resolutions passed by the Board of Directors of
both the Companies approving the scheme. g. Report adopted by the Board of Directors of the Transferor Company and the Transferee Company. Sd/N Chandrasekaran (DIN:00121863) Chairman appointed for the Meeting Mumbai, October 11, 2017 Registered
Office: Bombay House, 24, Homi Mody Street, Mumbai 400 001 Tel: +91 22 6665 8282 Fax: +91 22 66657799 Email: inv_rel@tatamotors.com; Website: www.tatamotors.com CIN—L28920MH1945PLC004520
SCHEME OF MERGER AND ARRANGEMENT AMONGST TML Drivelines Limited ... Transferor Company AND Tata Motors Limited . Transferee Company AND
their respective shareholders UNDER SECTION 230 TO 232 OF COMPANIES ACT, 2013 AND OTHER APPLICABLE PROVISIONS OF THE COMPANIES ACT, 2013 1. Preamble A. TML Drivelines Limited (formerly known as H.V. Axles Limited and also successor to H.V.
Transmission Limited) is a public limited company incorporated under the Act (as defined hereinafter), having its registered office at Nanavati Mahalaya, 18, Homi Mody Street, Hutatma Chowk, Mumbai—400 001 (the “Transferor Company”).
The Transferor Company is primarily engaged in the business of manufacturing Axles and parts thereof, Gearboxes and parts thereof and Crankshaft & Forgings for commercial vehicles. B. Tata Motors Limited is a public limited company
originally incorporated under the Companies Act, 1913 and continuing its existence under the Act, having its registered office at Bombay House, 24, Homi Mody Street, Mumbai 400 001 (the “Transferee Company”). The Transferee Company is
primarily engaged in the business of manufacturing of automobiles which covers wide range of cars, sports vehicles, buses, trucks and defence vehicles. The equity shares of the Transferee Company are listed on the BSE Limited (“BSE”),
National Stock Exchange of India Limited (“NSE”) and New York Stock Exchange (“NYSE”). The senior unsecured notes issued by the Transferee Company are listed on the Singapore Stock Exchange and the debentures issued by the
Transferee Company are listed on the BSE and NSE under the debt market segment. C. The Transferor Company is a wholly owned subsidiary of the Transferee Company. D. The Scheme shall enable the Transferee Company to reap several benefits including:
(i) synergy of operations for achieving organization effectiveness; (ii) optimisation of resources; (iii) reduction of statutory and legal compliance requirements; (iv) overall cost management; (v) greater integration and
financial strength; (vi) greater level of synergy in the Goods and Service Tax (GST) regime; (vii) greater flexibility in respect of supply chain and backend operation; (viii) streamlining the group structure and rationalization;
(ix) developing stronger base for future growth. E. Accordingly, it is proposed that the Transferor Company be merged with the Transferee Company, followed by the dissolution without winding up of the Transferor Company and the consequent
cancellation of equity shares held by the Transferee Company in the Transferor Company, pursuant to Sections 230 to 232 of the Companies Act, 2013 and other relevant provisions of the Act, in the manner provided for in the Scheme. F. Since the
Transferor Company is a wholly owned subsidiary of the Transferee Company, upon this Scheme becoming effective, the shares held by the Transferee Company (directly and/or through its nominees), in the Transferor Company will stand cancelled and no
consideration whatsoever shall pass from the Transferee Company. G. The merger of the Transferor Company with the Transferee Company pursuant to this Scheme shall take place with effect from the Appointed Date (as defined hereinafter). H. The merger
of the Transferor Company with the Transferee Company in accordance with this Scheme will be in compliance with the provisions of Section 2(1B) of the Income Tax Act, 1961, such that: a. all the properties of the Transferor Company immediately
before the merger shall become the property of the Transferee Company, by virtue of the merger; and b. all the liabilities of the Transferor Company, immediately before the merger, shall become the liabilities of the Transferee Company, by virtue of
the merger. 1. This Scheme has been drawn up to comply with the conditions relating to merger as included in the definition of “amalgamation” as specified under Section 2(1B) of the Income Tax Act, 1961. If any term or provision of
the Scheme is found or interpreted to be inconsistent with the said provisions, including resulting from an amendment of law or for any other reason whatsoever, the Scheme may be modified in the manner provided in this Scheme to the extent
determined necessary to comply with Section 2(1B) of the Income Tax Act, 1961. Such modification will however not affect other parts of the Scheme. J. This Scheme is divided into the following parts: (i) Part I, which deals with the
definitions and share capital of the Transferor Company and the Transferee Company; (ii) Part II, which deals with the merger of the Transferor Company with the Transferee Company; and (iii) Part III, which deals with the dissolution
without winding up of the Transferor Company, accounting treatment and general terms and conditions applicable to this Scheme. PART I 2. Definitions and Interpretation 2.1 In the Scheme, unless repugnant to the meaning or context thereof, the
following expressions shall have the following meanings: 2.1.1 “Act” means the Companies Act, 2013 (to the extent of the sections thereof that have been brought into force) and shall include any statutory modification,
re-enactment
or amendments thereto from time to time; 2.1.2 “Appointed Date” means April 1, 2017 or such other date as may be determined by the Boards of Directors of the Transferor Company and the
Transferee Company and as approved by the Tribunal; 2.1.3 “Board of Directors” or “Board” in relation to each of the Transferor Company and the Transferee Company, as the case may be, means the Board of Directors of such company,
and shall include a committee duly constituted and authorised for the purposes of matters pertaining to the merger, the Scheme and/or any other matter relating thereto; 2.1.4 “Effective Date” means the date on which the certified or
authenticated copies of the order(s) sanctioning the Scheme, passed by the Tribunal is filed with the Registrar of Companies. Any references in this Scheme to the “date of coming into effect of this Scheme” or “effectiveness of the
Scheme” or “Scheme taking effect” shall mean the Effective Date; 2.1.5 “Employees” mean the employees, if any, of the Transferor Company, as on the Effective Date; 2.1.6 “Encumbrance” means any options, pledge,
mortgage, lien, security, interest, claim, charge,
pre-emptive
right, easement, limitation, attachment, restraint or any other encumbrance of any kind or nature whatsoever, and the term “Encumbered”
shall be construed accordingly; 2.1.7 “Funds” shall have the meaning assigned to it in Clause 8(c) hereof; 2.1.8 “Governmental Authority” means any applicable central, state or local government, legislative body, regulatory or
administrative authority, agency or commission including a stock exchange or any court, tribunal, board, bureau, instrumentality, judicial or arbitral body; 2.1.9 “Liabilities” shall have the meaning assigned to it in Clause 6(a) hereof;
2.1.10 “Registrar of Companies” means the Registrar of Companies, Mumbai; 2.1.11 “Scheme” means this scheme of merger and arrangement, as amended or modified in accordance with the provisions hereof; 2.1.12 “SEBI” means
the Securities Exchange Board of India; 2.1.13 “SEBI Scheme Circulars” means CIR/CFD/CMD/16/2015 dated November 30, 2015 issued by SEBI or any other circulars issued by SEBI applicable to schemes of arrangement from time to time.
2.1.14 “Stock Exchanges” means the Bombay Stock Exchange, the National Stock Exchange and the New York Stock Exchange either collectively or individually, as the context may require; 2.1.15 “Transferee Company” means Tata Motors
Limited; 2.1.16 “Transferor Company” means TML Drivelines Limited (formerly known as H. V. Axles Limited and also successor to H.V. Transmission Limited); 2.1.17 “Tribunal” or “NCLT” means Mumbai Bench of the National
Company Law Tribunal constituted under section 408 of the Companies Act 2013; and
2.1.18 “Undertaking” shall mean the entire business and the whole of the undertakings of the Transferor Company as a going
concern, all its assets, rights, licenses and powers, and all its debts, outstandings, liabilities, duties and obligations as on the Appointed Date including, but not in any way limited to, the following: a. All the assets and properties (whether
movable or immovable, agricultural and
non-agricultural
land, tangible or intangible, real or personal, corporeal or incorporeal, present, future or contingent) of the Transferor Company, including, without
being limited to, buildings and structures, offices, residential and other premises, capital work in progress, sundry debtors, furniture, fixtures, office equipment, appliances, vehicles, accessories, power lines, depots, deposits, all stocks,
stocks of fuel, assets, investments of all kinds (including shares, scrips, stocks, bonds, debenture stocks, units or pass through certificates), cash balances or deposits with banks, loans, advances, contingent rights or benefits, book debts,
receivables, actionable claims, earnest moneys, advances or deposits paid by the Transferor Company, financial assets, leases (including lease rights), hire purchase contracts and assets, lending contracts, rights and benefits under any agreement,
benefit of any security arrangements or under any guarantees, reversions, powers, municipal permissions, tenancies in relation to the office and/or residential properties for the employees or other persons, guest houses, fixed and other assets,
trade and service names and marks, patents, copyrights, and other intellectual property rights of any nature whatsoever, rights to use and avail of telephones, telexes, facsimile, email, internet, leased line connections and installations,
utilities, electricity and other services, reserves, provisions, funds, benefits of assets or properties or other interest held in trust, registrations, contracts, engagements, arrangements of all kind, privileges and all other rights including
sales tax deferrals, title, interests, other benefits (including tax benefits), easements, privileges, liberties and advantages of whatsoever nature and wheresoever situate belonging to or in the ownership, power or possession and in the control of
or vested in or granted in favour of or enjoyed by the Transferor Company or in connection with or relating to the Transferor Company and all other interests of whatsoever nature belonging to or in the ownership, power, possession or the control of
or vested in or granted in favour of or held for the benefit of or enjoyed by the Transferor Company, whether in India or abroad. b. All agreements, rights, contracts, entitlements, licenses, permits, permissions, incentives, approvals,
registrations, tax deferrals and benefits, subsidies, concessions, grants, rights, claims, leases, tenancy rights, liberties, special status and other benefits or privileges and claims as to any patents, trademarks, designs, quota rights,
engagements, arrangements, authorities, allotments, security arrangements (to the extent provided herein), benefits of any guarantees, reversions, powers and all other approvals of every kind, nature and description whatsoever relating to the
Transferor Company’s business activities and operations. c. Entitlements, including tenancy rights, held by the Transferor Company or which may accrue or become due to it as on the Appointed Date or may become so due or entitled to thereafter.
d. All intellectual property rights, designs developed, records, files, papers, computer programmes, manuals, data, catalogues, sales material, lists of customers and suppliers, other customer information and all other records and documents relating
to the Transferor Company’s business activities and operations. e. Amounts claimed by the Transferor Company whether or not so recorded in the books of account of the Transferor Company from any Governmental Authority, under any law, act or
rule in force, as refund of any tax, duty, cess or of any excess payment. f. Right to any claim, whether preferred or made by the Transferor Company or not, in respect of any refund of tax, duty, cess or other charge, including any erroneous or
excess payment thereof made by the Transferor Company and any interest thereon, with regard to any law, act or rule or Scheme made by the Governmental Authority, and in respect of
set-off,
carry forward of
un-absorbed
losses, availability of Minimum Alternate Tax credit, deferred revenue expenditure, deduction, exemption, rebate, allowance, amortization benefit, etc. under the
Income-tax
Act, 1961, deferment of sales tax, any benefits under Package Scheme of Incentives under respective state laws as applicable, and the Cenvat / Modvat credit balances under the Central Excise Act,
1944, or any other or like benefits under the said acts or under and in accordance with any law or act or any law or act which may be enacted in future including but not limited to Goods and Service Tax. g. All debts (secured and unsecured),
liabilities including contingent liabilities, duties, leases of the Transferor Company and all other obligations of whatsoever kind, nature and description whatsoever and howsoever arising, raised or incurred or utilised. h. All other obligations of
whatsoever kind, including liabilities in respect of the employees of the Transferor Company with regard to the payment of gratuity, pension benefits and the provident fund or compensation, if any, in the event of voluntary retirement or
retrenchment. i. All Employees of the Transferor Company. 2.2 References to Clauses,
sub-Clauses
and Recitals, unless otherwise provided, are to clauses,
sub-clauses
and
recitals of and to this Scheme. 2.3 The headings herein shall not affect the construction of this Scheme. 2.4 Unless the context otherwise requires, reference to any law or to any provision thereof shall include references to any such law or to any
provision thereof as it may, after the date hereof, from time to time, be amended, supplemented or
re-enacted,
or to any law or any provision which replaces it, and any reference to a statutory provision shall
include any subordinate legislation made from time to time under that provision. 2.5 The singular shall include the plural and vice versa; and references to one gender include all genders. 2.6 Any phrase introduced by the terms
“including”, “include”, “in particular” or any similar expression shall be construed as illustrative and shall not limit the sense of the words preceding those terms. 2.7 Reference to a person includes any individual,
firm, body corporate (whether incorporated or not), Governmental Authority, or any joint arrangements, association, partnership, works council or employee representatives body (whether or not having separate legal personality). 3. Operative date of
the Scheme The Scheme set out herein in its present form or with any modification(s) and amendment(s) made in accordance with the provisions hereof, approved or imposed or directed by the Tribunal, shall be effective from the Appointed Date but
shall be made operative from the Effective Date. 4. Share Capital 4.1 Transferor Company, (i) The share capital structure of the Transferor Company as on December 31, 2016, is as under: Authorised Share Capital in crores 10,00,00,000 Equity
Shares of 10 each 100 Total 100 Issued, Subscribed and
Paid-up
Share Capital in crores 7,70,00,000 Equity shares of 10 each 77 Total 77 (ii) The Equity shares of the Transferor Company are not listed on any
stock exchange. (iii) All Equity shares of the Transferor Company are held by the Transferee Company (directly and/or through its nominees). (iv) As on date of the Scheme being approved by the Board of Directors of the Transferor Company, there has
been no change in the authorized, issued, subscribed and paid up share capital of the Transferor Company. 4.2 Transferee Company (i) The share capital structure of the Transferee Company as on December 31, 2016, is as under: Authorised
Share Capital in crores 350,00,00,000 Ordinary shares of 2 each 700 100,00,00,000 ‘A’ Ordinary shares of 2 each 200 30,00,00,000 Convertible Cumulative Preference shares of 100 each 3,000 Total 3,900
Issued Share Capital in crores 288,78,42,351 Ordinary shares of 2 each 577.57 50,87,36,805 ‘A’ Ordinary shares of 2 each
101.75 Total 679.32 Subscribed Capital in crores 2,887,348,428 Ordinary shares of 2 each 577.47 508,502,291’A’0rdinary shares of 2 each 101.70 Total 679.17
Paid-up
Capital in crores 2,887,348,428
Ordinary Shares of 2 each 577.47 Less: Calls in arrears i. 310 Ordinary Shares of 2 each (1 outstanding on each) -* ii. 260 Ordinary Shares of 2 each (0.50 outstanding on each) -* Add: Share Forfeiture iii. Paid up value of partly paid Ordinary
Shares which had been forfeited in
1998-99
and 19992000 due to
non-receipt
of call monies 0.05 Ordinary Shares of 2 each 577.52 508,502,291 ‘A’ Ordinary Shares
of 2 each 101.70 Grand Total 679.22 *Less than 50,000/- (ii) As on date of the Scheme being approved by the Board of Directors of the Transferee Company, there has been no change in the authorized, issued, subscribed and paid up share capital of the
Transferee Company. PART II—MERGER OF THE TRANSFEROR COMPANY WITH THE TRANSFEREE COMPANY Section 1—Transfer 5. Upon the coming into effect of the Scheme and with effect from the Appointed Date, the Undertaking of the Transferor
Company shall, pursuant to the provisions of Sections 230 to 232 and other applicable provisions, if any, of the Act, be and stand transferred to and vested in and/ or be deemed to have been transferred to and vested in the Transferee Company, as a
going concern in accordance with Section 2(1B) and other applicable provisions of the Income Tax Act,1961, without any further act, instrument, deed, matter or thing so as to become, as and from the Appointed Date, the undertaking of the
Transferee Company, by virtue of and in the manner provided in this Scheme. 6. Transfer of assets (a) Without prejudice to the generality of Clause 3 above, upon the coming into effect of the Scheme and with effect from the Appointed Date, all
the estate, assets, properties (including investments in shares, securities, stocks, bonds), rights, claims, title, interest and authorities including accretions and appurtenances comprised in the Undertaking of whatsoever nature and where so ever
situate, whether or not included in the books of the Transferor Company, and all assets and properties, which are acquired by the Transferor Company on or after the Appointed Date but prior to the Effective Date, shall, under the provisions of
Sections 230 to 232 of the Act and all other applicable provisions of applicable law, if any, without any further act, deed or instrument, cost or charge and without any notice or other intimation to any third party for the transfer of the same, be
and stand transferred to and vested in the Transferee Company and/ or be deemed to be transferred to and vested in the Transferee Company as a going concern so as to become, as and from the Appointed Date (or in case of any estate, assets, etc.
acquired on a date after the Appointed Date, with effect from such date), the estate, assets, properties (including investments in shares, securities, stocks, bonds), rights, claims, title, interest and authorities of the Transferee Company, subject
to the provisions of this Scheme in relation to Encumbrances in favour of banks and/or financial institutions. (b) Without prejudice to the provisions of
sub-Clause
(a) above, in respect of such of the
assets and properties of the Transferor Company as are movable in nature (including shares, securities, stocks, bonds) or incorporeal property or are otherwise capable of transfer by delivery or possession, or by endorsement and/ or delivery, the
same shall be so transferred by the Transferor Company upon the coming into effect of the Scheme, and shall, become the assets and property of the Transferee Company with effect from the Appointed Date pursuant to the provisions of Section 232
of the Act and all other applicable provisions of applicable law, if any, without requiring any deed or instrument of conveyance, cost or charge and without any notice or other intimation to any third party for transfer of the same, subject to the
provisions of this Scheme in relation to Encumbrances in favour of banks and/or financial institutions. (c) In respect of such of the assets and properties belonging to the Transferor Company(other than those referred to in
sub-Clause
(b) above) including sundry debtors, receivables, bills, credits (including tax credits), loans and advances, if any, whether recoverable in cash or in kind or for value to be received, bank
balances, earnest money and deposits with any Government, quasi government, local or other authority or body or with any company or other person, the same shall stand transferred to and vested in the Transferee Company and/ or deemed to have been
transferred to and vested in the Transferee Company, without any further act, instrument or deed, cost or charge and without any notice or other intimation to any third party, upon the coming into effect of this Scheme and with effect from the
Appointed Date pursuant to the provisions of Sections 230 to 232 of the Act and all other applicable provisions of applicable law, if any. (d) Upon the Scheme coming into effect and with effect from the Appointed Date, all immovable property
(including but not limited to land, agricultural land, buildings, offices, factories, sites and any other immovable property, including accretions and appurtenances) of the Transferor Company, whether freehold or leasehold, and any document of
title, rights, interest and easements in relation thereto shall stand transferred to and be vested in the Transferee Company, as a successor of the Transferor Company, without any act or deed to be done or executed by the Transferor Company and/ or
the Transferee Company. The Transferee Company shall be entitled to exercise all rights and privileges and be liable to pay all taxes and charges and fulfill all obligations, in relation to or applicable to all such immovable properties. The
mutation and/or substitution of the title to the immovable properties shall be made and duly recorded in the name of the Transferee Company by the appropriate Governmental Authorities and third parties pursuant to the sanction of the Scheme by the
Tribunal and upon the Scheme becoming effective in accordance with the terms hereof without any further act or deed to be done or executed by the Transferor Company and/ or the Transferee Company. It is clarified that the Transferee Company shall be
entitled to engage in such correspondence and make such representations as may be necessary for the purposes of the aforesaid mutation and/or substitution. (e) All the licenses, permits, entitlements, approvals, permissions, registrations,
incentives, tax deferrals, exemptions and benefits (including sales tax and service tax), subsidies, tenancy rights, liberties, special status and other benefits or privileges enjoyed or conferred upon or held or availed of by the Transferor Company
and all rights and benefits that have accrued or which may accrue to the Transferor Company, whether on, before or after the Appointed Date, income tax benefits and exemptions, all other rights, exemptions and benefits including those acquired by
the Transferor Company on or after the Appointed Date, shall, under the provisions of Sections 230 to 232 of the Act and all other applicable provisions of applicable law, if any, without any further act, instrument or deed, cost or charge and
without any notice or other intimation to any third party for transfer of the same, on coming into effect of the Scheme and with effect from Appointed Date, be and stand transferred to and vesting and/ or be deemed to be transferred to and vested in
and be available to the Transferee Company so as to become licenses, permits, entitlements, approvals, permissions, registrations, incentives, tax deferrals, exemptions and benefits (including sales tax and service tax), subsidies, liberties,
special status and other benefits or privileges of the Transferee Company and shall remain valid, effective and enforceable on the same terms and conditions.
(f) All the rights, remedies, claims and rights of action of the Transferor Company against third parties shall, pursuant to Sections
230 to 232 of the Act, without any further act, instrument or deed, cost or charge and without any notice or other intimation to any third party for transfer of the same, be and deemed to be rights, remedies, claims and rights of action of the
Transferee Company upon the coming into effect of the Scheme and with effect from the Appointed Date. (g) On and from the Effective Date, and thereafter, the Transferee Company shall be entitled to operate all bank accounts of the Transferor
Company and realise all monies and complete and enforce all pending contracts and transactions and to accept stock returns and issue credit notes in respect of the Transferor Company in the name of the Transferee Company in so far as may be
necessary until the transfer of rights and obligations of the Transferor Company to the Transferee Company under this Scheme have been formally given effect to under such contracts and transactions. (h) For avoidance of doubt and without
prejudice to the generality of any applicable provisions of this Scheme, it is clarified that with effect from the Effective Date and till such times the name of the bank accounts of the Transferor Company would be replaced with that of the
Transferee Company, the Transferee Company shall be entitled to operate the bank accounts of the Transferor Company in the name of the Transferor Company in so far as may be necessary. All cheques and other negotiable instruments, payment orders
received or presented for encashment which are in the name of the Transferor Company after the Effective Date shall be accepted by the bankers of the Transferee Company and credited to the account of the Transferee Company, if presented by the
Transferee Company. The Transferee Company shall be allowed to maintain banks accounts in the name of Transferor Company by the Transferee Company for such time as may be determined to be necessary by the Transferee Company for presentation and
deposition of cheques and pay orders that have been issued in the name of the Transferor Company. It is hereby expressly clarified that any legal proceedings by or against the Transferor Company in relation to cheques and other negotiable
instruments, payment orders received or presented for encashment which are in the name of the Transferor Company shall be instituted, or as the case may be, continued, by or against, the Transferee Company after the coming into effect of the Scheme.
7. Contracts, deeds etc. (a) Upon the coming into effect of this Scheme and with effect from Appointed Date, and subject to the provisions of this Scheme, all contracts, deeds, bonds, agreements, schemes, arrangements and other instruments of
whatsoever nature, to which the Transferor Company is a party or to the benefit of which the Transferor Company may be eligible for, and which are subsisting or have effect immediately before the Effective Date, shall, under the provisions of
Sections 230 to 232 of the Act and all other applicable provisions of applicable law, if any, without any further act, instrument or deed, cost or charge and without any notice or other intimation to any third party, continue in full force and
effect on or against or in favour, as the case maybe, of the Transferee Company and may be enforced as fully and effectually as if, instead of the Transferor Company, the Transferee Company had been a party or beneficiary or oblige thereto or
thereunder. (b) It is hereby clarified that by virtue of the provisions of the Scheme and pursuant to the order of the Tribunal sanctioning the Scheme, upon the Scheme coming into effect, all rights, services, obligations, liabilities,
responsibilities undertaken by or in favour of the Transferor Company under any contractual arrangements shall automatically stand transferred to and vested in and/ or shall be deemed to have been transferred to and vested in the Transferee Company
and all benefits to which the Transferor Company is entitled to shall be available to and vested in and/ or shall be deemed to have been available to and vested in the Transferee Company, as a successor-
in-interest
and the Transferee Company shall be entitled to deal with the same in place and stead of the Transferor Company, as if the same were originally performed or conferred upon or given or issued to or
executed in favour of the Transferee Company, and the rights and benefits under the same will be available to the Transferee Company, without any further act or deed. The Transferee Company shall discharge its obligation in respect of the services
to be performed/ provided or in respect of payment of service charges under any contractual arrangements instead of the Transferor Company. (c) Without prejudice to the other provisions of this Scheme and notwithstanding the fact that vesting of the
Undertaking occurs by virtue of this Scheme itself, the Transferee Company may, at any time after the coming into effect of the Scheme, in accordance with the provisions hereof, if so required under any law or otherwise, take such actions and
execute such deeds (including deeds of adherence), confirmations or other writings or arrangements with any party to any contractor arrangement to which the Transferor Company is a party or any writings as may be necessary in order to give formal
effect to the provisions of this Scheme. The Transferee Company shall, under the provisions of this Scheme, be deemed to be authorized to execute any such writings on behalf of the Transferor Company and to carry out or perform all such formalities
or compliances referred to above on the part of the Transferor Company to be carried out or performed. (d) For the avoidance of doubt and without prejudice to the generality of the foregoing, up on the coming into effect of the Scheme and with
effect from the Appointed Date, all consents, permissions, licenses, certificates, clearances, authorities, powers of attorney given by, issued to, or executed in favour of the Transferor Company shall stand transferred to the Transferee Company as
if the same were originally given by, issued to, or executed in favour of the Transferee Company, and the Transferee Company shall be bound by the terms thereof, the obligations and duties thereunder, and the rights and benefits under the same shall
be available to the Transferee Company. 8. Transfer of Liabilities (a) Upon the coming into effect of this Scheme and with effect from the Appointed Date, all debts and liabilities of the Transferor Company including all secured and unsecured debts
(whether in Indian rupees or foreign currency), liabilities (including contingent liabilities, deferred tax liabilities and obligations under any licenses or permits or schemes), duties and obligations and undertakings of the Transferor Company of
every kind, nature and description what so ever whether present or future, and how so ever arising, raised or incurred or utilized for its business activities and operations along with any charge, Encumbrance, lien or security thereon (herein
referred to as the “Liabilities”), whether or not recorded in its books and records, shall, under the provisions of Sections 230 to 232 of the Act and other applicable provisions of applicable law, if any, without any further act,
instrument, deed, matter or thing, cost or charge and without any notice or other intimation to any third party for the transfer of the same, be and stand transferred to and vested in and be deemed to have been transferred to and vested in the
Transferee Company, to the extent they are outstanding on the Effective Date and shall become as and from the Appointed Date (or in case of any Liability incurred on a date after the Appointed Date, with effect from such date) the Liabilities of the
Transferee Company on the same terms and conditions as were applicable to the Transferor Company, and the Transferee Company shall meet, discharge and satisfy the same and further it shall not be necessary to obtain the consent of any third party or
other person who is a party to any contract or arrangement by virtue of which such Liabilities have arisen in order to give effect to the provisions of this Clause 6. (b) All Liabilities incurred or which arise or accrue to the Transferor Company on
or after the Appointed Date till the Effective Date shall be deemed to be and shall become the debts, loans raised and used, duties, liabilities and obligations incurred by the Transferee Company by virtue of this Scheme. (c) Where any Liabilities
of the Transferor Company as on the Appointed Date have been discharged by the Transferor Company on or after the Appointed Date and prior to the Effective Date, such discharge shall be deemed to be for and on account of the Transferee Company upon
the coming into effect of this Scheme. (d) All Liabilities incurred or undertaken by the Transferor Company on or after the Appointed Date and prior to the Effective Date shall be deemed to have been raised, used, incurred or undertaken for and on
behalf of the Transferee Company and to the extent they are outstanding on the Effective Date, shall, upon the coming into effect of this Scheme and under the provisions of Sections 230 to 232 of the Act, without any further act, instrument or deed,
cost or charge and without any notice or other intimation to any third party for the transfer of the same, be and stand transferred to and vested in and be deemed to have been transferred to and vested in the Transferee Company and shall become the
loans and liabilities, duties and
obligations of the Transferee Company, which shall meet, discharge and satisfy the same. (e) Upon coming into effect of the Scheme,
loans, advances and other obligations (including any guarantees, letters of credit, letters of comfort or any other instrument or arrangement which may give rise to a liability, including contingent liability in whatever form), if any, due or which
may at any time in future become due between the Transferor Company and the Transferee Company shall, ipso facto, stand discharged and come to an end and there shall be no liability in that behalf on any party and the appropriate effect shall be
given in the books of accounts and records of the Transferee Company. (f) Any reference in any security documents or arrangements (to which the Transferor Company is a party) to the Transferor Company and its assets and properties, shall be
construed as a reference to the Transferee Company and the assets and properties of the Transferor Company transferred to the Transferee Company by virtue of this Scheme. Without prejudice to the foregoing provisions, the Transferee Company may
execute any instruments or documents or do all the acts and deeds as may be considered appropriate, including the filing of necessary particulars and/ or modification(s) of charge, with the Registrar of Companies to give formal effect to the above
provisions, if required. (g) Upon the coming into effect of this Scheme, the Transferee Company shall be liable to perform all obligations in respect of the Liabilities, which have been transferred to it in terms of this Scheme. (h) It is expressly
provided that, save as herein provided, no other term or condition of the Liabilities transferred to the Transferee Company is amended by virtue of this Scheme except to the extent that such amendment is required statutorily. (i) The provisions of
this Clause 6 shall operate notwithstanding anything to the contrary contained in any instrument, deed or writing or the terms of sanction or issue or any security document; all of which instruments, deeds or writings or the terms of sanction or
issue or any security document shall stand modified and/ or superseded by the foregoing provisions. 9. Encumbrances (a) The transfer and vesting of the assets comprised in the Undertaking to and in the Transferee Company under Clause 4 and Clause 5
of this Scheme shall be subject to the Encumbrances, if any, affecting the same. (b) All Encumbrances, if any, existing prior to the Effective Date over the assets of the Transferor Company which secure or relate to the Liabilities, shall, after the
Effective Date, without any further act, instrument or deed, continue to relate and attach to such assets or any part thereof to which they are related or attached prior to the Effective Date and as are transferred to the Transferee Company.
Provided that if any of the assets of the Transferor Company have not been Encumbered in respect of the Liabilities, such assets shall remain unencumbered and the existing Encumbrance referred to above shall not be extended to and shall not operate
over such assets. Further, such Encumbrances shall not relate or attach to any of the other assets of the Transferee Company. The absence of any formal amendment which may be required by a lender or trustee or third party shall not affect the
operation of the above. (c) The existing Encumbrances over the other assets and properties of the Transferee Company or any part thereof which relate to the liabilities and obligations of the Transferee Company prior to the Effective Date shall
continue to relate to such assets and properties and shall not extend or attach to any of the assets and properties of the Transferor Company transferred to and vested in the Transferee Company by virtue of the Scheme. 10. Employees and directors
(a) Upon the coming into effect of this Scheme, the Employees, if any, shall, under the provisions of Sections 230 to 232 of the Act and other provisions of applicable law, if any, without any further act, instrument, deed, cost or charge and
without any notice or other intimation to any third party for their transfer, become the employees of the Transferee Company on terms and conditions not less favourable than those on which they are engaged by the Transferor Company and without any
interruption of or break in service as a result of the merger of the Transferor Company with the Transferee Company. For the purpose of payment of any compensation, gratuity and other term in all benefits, the past services of such Employees with
the Transferor Company shall also be taken into account, and paid (as and when payable) by the Transferee Company. (b) It is clarified that save as expressly provided for in this Scheme, the Employees who become the employees of the Transferee
Company by virtue of this Scheme, shall not be entitled to the employment policies and shall not be entitled to avail of any schemes and benefits that may be applicable and available to any of the other employees of the Transferee Company (including
the benefits of or under any employee stock option schemes applicable to or covering all or any of the other employees of the Transferee Company),unless otherwise determined by the Transferee Company. (c) In so far as the provident fund, gratuity
fund and superannuation fund, trusts, retirement fund or benefits and any other funds or benefits created by the Transferor Company for the Employees or to which the Transferor Company is contributing for the benefit of the Employees and other such
funds, trusts, the benefits of which the Employees enjoy (collectively referred to as the “Funds”), all the contributions made to such Funds for the benefit of the Employees and the accretions thereto and the investments made by the Funds
in relation to the Employees shall be transferred to the Transferee Company and shall be held for the benefit of the concerned Employees. In the event the Transferee Company has its own funds in respect of any of the Funds referred to above, such
contributions, accretions and investments shall, subject to the necessary approvals and permissions and at the discretion of the Transferee Company, be transferred to the relevant funds of the Transferee Company. In the event that the Transferee
Company does not have its own funds in respect of any of the above or if deemed appropriate by the Transferee Company, the Transferee Company may, subject to necessary approvals and permissions, maintain the existing Funds separately and contribute
there to until such time that the Transferee Company creates its own funds, at which time the Funds and the investments, accretions and contributions pertaining to the Employees shall be transferred to the funds created by the Transferee Company.
(d) In relation to those Employees who are not covered under the provident fund trust of the Transferor Company or who do not enjoy the benefit of any other provident fund trust, and for whom the Transferor Company is making contributions to the
government provident fund, the Transferee Company shall stand substituted for the Transferor Company, for all purposes whatsoever, including relating to the obligation to make contributions to the said fund in accordance with the provisions of such
fund, bye laws, etc. in respect of such Employees, such that all the rights, duties, powers and obligations of the Transferor Company in relation to such provident fund trust shall become those of the Transferee Company. (e) Upon the coming into
effect of this Scheme, the directors of the Transferor Company will not be entitled to any directorships in the Transferee Company by virtue of the provisions of this Scheme. It is clarified that this Scheme will not affect any directorship of a
person who is already a director in the Transferee Company as of the Effective Date. 11. Legal, taxation and other proceedings (a) Upon the coming into effect of this Scheme, all suits, actions, and other proceedings including legal and taxation
proceedings (including before any statutory or quasi-judicial authority or tribunal), by or against the Transferor Company, whether pending and/ or arising on or before the Effective Date shall be continued and/ or enforced by/or against the
Transferee Company as effectually and in the same manner and to the same extent as if the same had been instituted and/ or pending and/or arising by/or against the Transferee Company. (b) The Transferee Company shall have all legal, taxation or
other proceedings initiated by or against the Transferor Company referred to in
sub-Clause
(a) above transferred to its name as soon as is reasonably possible after the Effective Date and to have the same
continued, prosecuted and enforced by/or against the Transferee Company. 12. Without prejudice to the provisions of Clauses 4 to 9, with effect from the Appointed Date, all inter-party transactions between the Transferor Company and the Transferee
Company shall be considered as intra-party transactions for all purposes.
Section 2-
Conduct of Business 13. Upon the coming into effect of the Scheme, with effect
from the Appointed Date and up to and including the Effective Date: (a) The Transferor Company shall carry on and be deemed to have carried on all business and activities and shall hold and stand possessed of and shall be deemed to hold and
stand possessed of all its estates, assets, rights, title, interest, authorities, contracts and investments for, and on account of, and in trust for, the Transferee Company; (b) All profits and income accruing or arising to the Transferor Company,
and losses and expenditure arising or incurred by it (including taxes, if any, accruing or paid in relation to any profits or income), for the period commencing from the Appointed Date shall, for all purposes, be treated as and be deemed to be the
profits, income, losses or expenditure (including taxes), as the case maybe, of the Transferee Company; (c) Any of the rights, powers, authorities or privileges exercised by the Transferor Company shall be deemed to have been exercised by the
Transferor Company for and on behalf of, and in trust for and as an agent of the Transferee Company. Similarly, any of the obligations, duties and commitments, including compliances such as tax deducted at source / tax collected at source under
income-tax
laws, compliances under sales tax, service tax, excise and other applicable laws that have been undertaken or discharged by the Transferor Company shall be deemed to have been undertaken for and on behalf
of and as an agent for the Transferee Company; and 14. Subject to the terms of the Scheme, the transfer and vesting of the Undertaking as per the provisions of the Scheme shall not affect any transactions or proceedings already concluded by the
Transferor Company on or before the Appointed Date or after the Appointed Date till the Effective Date, to the end and intent that the Transferee Company accepts and adopts all acts, deeds and things made, done and executed by the Transferor Company
as acts, deeds and things made, done and executed 19. by or on behalf of the Transferee Company. (d) all taxes (including, without limitation , income tax, wealth tax, sales tax, excise duty, customs duty, service tax, VAT, etc.) paid or payable by
the Transferor Company in respect of the operations and/ or the profits of the Transferor Company before the Appointed Date, shall be on account of the Transferor Company and, in so far as it relates to the tax payment (including, without
limitation, income tax, minimum alternate tax, wealth tax, sales tax, excise duty, customs duty, service tax, VAT, etc.), whether by way of deduction at source, advance tax or otherwise howsoever, by the Transferor Company in respect of the profits
or activities or operation of the Transferor Company with effect from the Appointed Date, the same shall be deemed to be the corresponding item paid by the Transferee Company, and, shall, in all proceedings, be dealt with accordingly. 15. The
Transferee Company shall be entitled, pending the sanction of the Scheme, to apply to any Governmental Authority, if required, under any law for such consents and approvals which the Transferee Company may require to carry on the business of the
Transferor Company. Section 3—Cancellation of Shares of the Transferor Company 16. Upon the Scheme coming into effect, all equity shares of the Transferor Company held by the Transferee Company (directly and/ or through nominees) shall
stand cancelled without any further application, act or deed. It is clarified that no new shares shall be issued or payment made in cash or in kind whatsoever by the Transferee Company in lieu of such shares of the Transferor Company. PART
III—DISSOLUTION OF TRANSFEROR COMPANY, ACCOUNTING TREATMENT AND OTHER TERMS AND CONDITIONS 17. Dissolution of Transferor Company (a) Upon the coming into effect of the Scheme, the Transferor Company shall stand dissolved without
winding-up,
without any further act or deed. (b) On and with effect from the Effective Date, the name of the Transferor Company shall be struck off from the records of the Registrar of Companies. The Transferee
Company shall make necessary filings in this regard. 18. Accounting Treatment (a) Upon the Scheme becoming effective, the Transferee Company shall account for the merger in its books of accounts as under: (i) The accounting shall be in accordance
with “Pooling of Interest Method” laid down by Appendix C of Indian Accounting Standard 103 (Ind AS 103): (Business combinations of entities under common control), notified under the Companies Act, 2013. (ii) Accordingly, on and from the
Appointed Date and subject to the provisions hereof, all assets, liabilities and reserves of the Transferor Company shall be recorded in the books of account of the Transferee Company at their existing carrying amounts and in the same form. (iii)
All costs and expenses incurred as per Clause 29 below as well as other costs incidental with the finalization of this Scheme and for operationalizing the Scheme and any other expenses or charges attributable to the implementation of the above
Scheme including stamp duty payable, if any, on the basis of value of immovable properties of the Transferor Company transferred to the Transferee Company shall be debited to the profit & loss account of the Transferee Company (iv) In case
of any difference in accounting policy between the Transferor Company and the Transferee Company, the impact of the same till the Appointed Date will be quantified and adjusted to the Reserves, in the books of the Transferee Company to ensure that
the financial statements of the Transferee Company reflect the financial position on the basis of consistent accounting policy. (v) To the extent that there are inter-company loans, advances, deposits, balances or other obligations as between the
Transferor Company and the Transferee Company, the obligation in respect thereof will come to an end and corresponding effect shall be given in the books of accounts and records of the Transferee Company for the reduction of any assets or
liabilities as the case maybe and there would be no accrual of interest or any other charges in respect of such inter-company loans, deposits or balances, with effect from the Appointed Date. (vi) The difference, if any, between the investments held
by the Transferee Company and all assets, liabilities and reserves of the Transferor Company, will be transferred to capital reserve. (b) Comparative accounting period presented in the financial statements of the Transferee Company shall be restated
for the accounting impact of the merger, as stated above, as if the merger had occurred from the beginning of the comparative period in the financial statements. Consolidation of Authorised Share Capital (a) Upon this Scheme becoming effective, the
authorised share capital of the Transferor Company shall be deemed to be added to the authorised share capital of the Transferee Company without any further act, instrument or deed or procedure or payment of any stamp duty and registration fees.
Accordingly, upon the Scheme becoming effective, the authorized share capital of the Transferee Company shall stand enhanced to 4000 crore. (b) It is clarified that the approval of the members of the Transferee Company to the Scheme shall be deemed
to be their consent / approval also to the alteration of the memorandum and articles of association of the Transferee Company as required under Sections 13, 14, 61, 64 and other applicable provisions of the Act. 20. Conditions precedent to the
Scheme (a) The Scheme is conditional upon and subject to: (i) The Scheme being approved by the requisite majorities of the various classes of members (where applicable) of the Transferor Company and the Transferee Company as required under the
Act, or dispensation having been received from the Tribunal in relation to obtaining such approval from the members, and the requisite orders of the Tribunal being obtained in this regard; (ii) the Tribunal having accorded its sanction to the
Scheme; (iii) If applicable to the Scheme (which is a scheme between a holding company and its wholly owned subsidiary), receipt of
pre-filing
and post sanction approvals of the Stock Exchanges and SEBI in terms of the SEBI
Scheme Circulars, as applicable; and (iv) the authenticated or certified copies of the order of the Tribunal approving the Scheme being filed with the Registrar of Companies, Mumbai. (b) On the approval of the Scheme by the shareholders of the
Transferor Company and the Transferee Company, in accordance with Section 230(1) of the Act, the shareholders of the Transferor Company and Transferee Company, respectively, shall be deemed to have also resolved and accorded all relevant
consents under the Act to the extent the same may be considered applicable in relation to the arrangement set out in this Scheme and related matters. (c) In the event of this Scheme failing to take effect by March 31, 2018 or such later date as
may be agreed by the respective Boards of Directors of the Transferor Company and the Transferee Company, this Scheme shall stand revoked, cancelled and be of no effect and become null and void, and in that event, no rights and liabilities shall
accrue to, or, be incurred
inter-se
between the parties or their shareholders or creditors or employees or any other person. In such case, each of the Transferor Company and the Transferee Company shall bear
its own costs and expenses or as may be otherwise mutually agreed. 21. Dividends (a) The Transferor Company and the Transferee Company shall be entitled to declare and pay dividends, whether interim or final, to their respective shareholders in
respect of the accounting period prior to the Effective Date. (b) Prior to the effectiveness of the Scheme, the holders of the shares of the Transferor Company and the Transferee Company shall, save as expressly provided otherwise in this Scheme,
continue to enjoy their existing rights under their respective Articles of Association including the right to receive dividends. (c) It is clarified that the aforesaid provisions in respect of declaration of dividends are enabling provisions only
and shall not be deemed to confer any right on any shareholder of the Transferor Company and/ or the Transferee Company to demand or claim any dividends which, subject to the provisions of the Act, shall be entirely at the discretion of the
respective Boards of Directors of the Transferor Company and the Transferee Company respectively, and subject to the approval, if required, of the shareholders of the Transferor Company and the Transferee Company respectively. 22. Applications The
Transferor Company and the Transferee Company shall make necessary applications before the Tribunal for the sanction of this Scheme under Sections 230 to 232 of the Act, and any other applicable provisions of the Act. 23. Resolutions Upon the coming
into effect of the Scheme, the resolutions, if any, of the Transferor Company, relating to any powers to borrow, make investments, give loans, give guarantees, etc. approved under the provisions of the Act or any other applicable statutory
provisions, which are valid and subsisting on the Effective Date, shall continue to be valid and subsisting and be considered as resolutions of the Transferee Company and the amounts under such resolutions shall be added to the amounts under like
resolutions passed by the Transferee Company or shall become the amounts available to the Transferee Company as if the resolutions were passed by the Transferee Company. 24. Modifications to the Scheme (a) The Transferor Company (by its Board
of Directors) and the Transferee Company (by its Board of Directors), may, in their full and absolute discretion, jointly and as mutually agreed in writing: (i) Assent to any alteration(s) or modification(s) to this Scheme which the Tribunal and/ or
any other Governmental Authority may deem fit to approve or impose and to do all acts, deeds and things as may be necessary, desirable or expedient for the purposes of this Scheme; (ii) Give such directions (acting jointly) as they may consider
necessary to settle any question or difficulty arising under this Scheme or in regard to, and of the meaning or interpretation of this Scheme, or implementation thereof, or in any matter whatsoever connected therewith, or to review the position
relating to the satisfaction of various conditions of this Scheme and if necessary, to waive any of those (to the extent permissible under applicable law); (iii) Jointly modify, vary or withdraw this Scheme prior to the Effective Date in any manner
at any time; (iv) Determine jointly whether any asset, liability, legal or other proceedings pertains to the Transferor Company or not, on the basis of any evidence that they may deem relevant for this purpose; and (v) Any modification to the Scheme
by the Transferor Company and/ or the Transferee Company, after receipt of sanction by the Tribunal, shall be made only with the prior approval of the Tribunal. (b) Notwithstanding anything stated in Clause 23(a) hereinabove, no amendments or
changes to the Scheme shall be carried out or be permissible unless and until the same are approved by the Tribunal. 25. Severability (a) The provisions contained in this Scheme are inextricably inter-linked with the other provisions and the Scheme
constitutes an integral whole. The Scheme would be given effect to only if is approved in its entirety unless specifically agreed otherwise by the respective Board of Directors of the Transferor Company and the Transferee Company. (b) If any part of
this Scheme is found to be unworkable for any reason whatsoever, the same shall not, subject to the decision of the Transferor Company and the Transferee Company, affect the validity or implementation of the other parts and/ or provisions of this
Scheme. 26. Upon this Scheme becoming effective, the accounts of the Transferee Company, as on the Appointed Date shall be reconstructed in accordance with the terms of this Scheme. 27. The Transferee Company shall be entitled to file/ revise its
income tax returns, TDS certificates, TDS returns, and other statutory returns, if required, and shall have the right to claim refunds, advance tax credits, credit of tax under Section115JB of the Income Tax Act, 1961, credit of tax deducted /
collected at source, credit of taxes paid/ withheld etc., if any, as may be required consequent to implementation of this Scheme. 28. Repeals and Savings Any matter filed with Registrar of Companies, Regional Director or the Central Government under
the Companies Act, 1956, before the notification of the corresponding provisions under the Companies Act, 2013 and not fully addressed at that time shall be concluded by the Registrar, Regional Director or the Central Government, as the case may be,
in terms of the Companies Act, 1956. Any direction or order given by the Tribunal under the provisions of the Companies Act, 1956 and any act done by the Transferor Company and / or Transferee Company based on such directions or order shall be
deemed to be in accordance with and consistent with the provisions of the Companies Act, 2013. Accordingly, the provisions of the Companies Act, 2013, shall not apply to acts done by the Transferor Company and /or Transferee Company as per direction
or order of the Tribunal sanctioning the Scheme. 29. Costs All costs, charges and expenses (including, but not limited to, any taxes and duties, stamp duty, registration charges, etc.) payable by the Transferor Company and the Transferee Company in
relation to or in connection with the Scheme and incidental to the completion of the merger of the Transferor Company with the Transferee Company in pursuance of the Scheme shall be borne and paid by the Transferee Company.
TATA MOTORS LIMITED Condensed Balance Sheet (? in crores) As at June 30, As at March 31, 2017 2017 I. ASSETS
(1) NON-CURRENT ASSETS (a) Property, plant and equipment 17,934.91 17,364.77 (b) Capital work-in-progress 1,638.52 1,870.93 (c) Goodwill 99.09 99.09 (d) Other intangible assets 2,905.50 2,773.69 (e) Intangible assets
under development 5,447.52 5,366.03 (f) Investments in subsidiaries, joint ventures and associates 14,687.99 14,778.87 (g) Financial assets (i) Investments 556.37 528.37 (ii) Loans and advances 424.11 389.61 (iii) Other
financial assets 200.54 196.32 (h) Non-current tax assets (net) 746.50 724.58 (i) Other non-current assets 1,652.44 1,856.28 46,293.49 45,948.54 (2) CURRENT ASSETS (a) Inventories 6,525.08 5,504.42 (b) Investments in
subsidiaries (held for sale) 90.88— (c) Financial assets (i) Investments 2,191.94 2,400.92 (ii) Trade receivables 2,166.82 2,128.00 (iii) Cash and cash equivalents 240.49 188.39 (iv) Bank balances other than
(iii) above 55.79 97.67 (v) Loans and advances 226.05 231.35 (vi) Other financial assets 78.51 100.76 (d) Current tax assets (net) 0.03 129.49 (e) Other current assets 1,877.87 1,807.06 13,453.46 12,588.06 TOTAL ASSETS
59,746.95 58,536.60 II. EQUITY AND LIABILITIES EQUITY (a) Equity share capital 679.22 679.22 (b) Other equity 19,681.59 20,129.93 20,360.81 20,809.15 LIABILITIES (1) NON-CURRENT LIABILITIES (a) Financial liabilities
(i) Borrowings 14,207.94 13,686.09 (ii) Other financial liabilities 1,055.13 1,123.66 (b) Provisions 851.06 850.71 (c) Deferred tax liabilities (net) 85.92 97.95 (d) Other non-current liabilities 350.76 321.24 16,550.81
16,079.65 (2) CURRENT LIABILITIES (a) Financial liabilities (i) Borrowings 8,243.83 5,375.52 (ii) Trade payables 6,662.35 7,015.21 (iii) Acceptances 3,722.05 4,379.29 (iv) Other financial liabilities 2,127.24 2,465.14
(b) Provisions 452.39 467.98 (c) Current tax liabilities (net) 29.39 80.64 (d) Other current liabilities 1,598.08 1,864.02 22,835.33 21,647.80 TOTAL EQUITY AND LIABILITIES 59,746.95 58,536.60 ,Q WHUPV RI RXU UHSRUW )RU DQG RQ EHKDOI
RI WKH %RDUG )RU DELOITTE HASKINS & SELLS LLP C RAMAKRISHNAN GUENTER BUTSCHEK Chartered Accountants Group Chief Financial Officer CEO & Managing Director B P SHROFF H K SETHNA S BORWANKAR Partner Company Secretary ED &
Chief Operating Officer Mumbai, August 9, 2017 Mumbai, August 9, 2017
TATA MOTORS LIMITED Condensed Statement of Profit and Loss (? in crores) Quarter ended June 30, Particulars 2017 2016 I. Income
from operations 10,375.32 11,434.91 II. Other Income 639.93 624.55 III. Total Income (I+II) 11,015.25 12,059.46 IV. Expenses (a Cost of materials consumed 6,050.71 6,783.85 (b Purchases of products for sale 851.40 938.83 (c Changes in inventories of
finished goods, work-in-progress and products for sale (481.90) (836.16) (d Excise duty 1,280.98 1,145.19 (e Employee benefits expense 888.57 898.94 (f) Finance costs 367.83 349.13 (g Foreign exchange (gain)/loss (net)
(7.95) 78.82 (h Depreciation and amortisation expense 674.78 712.24 (i) Product development/Engineering expenses 75.24 116.17 (j) Other expenses 1,991.32 2,081.35 (k Amount capitalised (208.88) (246.77) Total Expenses (IV)
11,482.10 12,021.59 V. Profit/(loss) before tax (III-IV) (466.85) 37.87 VI. Tax expense/(credit) (net) (a Current tax 6.65 1.77 (b Deferred tax (6.45) 10.35 Total tax expense/(credit) 0.20 12.12 VII. Profit/(loss) for the period from
continuing operations (V-VI) (467.05) 25.75 VIII. Other comprehensive income/(loss): (A) (i) Items that will not be reclassified to profit and loss: (a) Remeasurement gains and (losses) on defined benefit obligations (net) 5.11
1.28 (b) Equity instruments fair value through other comprehensive income 28.00 1.40 (ii) Income tax (expense)/credit relating to items that will not be reclassified to profit or loss (1.76) (0.55) (B) (i) Items that will be
reclassified to profit or loss—gains and (losses) in cash flow hedges (19.32) (5.64) (ii) Income tax (expense)/credit relating to items that will be reclassified to profit or loss 6.68 1.96 Total other comprehensive
income/(loss), net of taxes 18.71 (1.55) IX. Total comprehensive income/(loss) for the period (VII+VIII) (448.34) 24.20 X. Earnings per equity share (EPS) (A) Ordinary shares (face value of ? 2 each) : (i) Basic ?
(1.38) 0.06 (ii) Diluted ? (1.38) 0.06 (B) ‘A’ Ordinary shares (face value of ? 2 each) : (i) Basic ? (1.38) 0.16 (ii) Diluted ? (1.38) 0.16 In terms of our report )RU DQG RQ EHKDOI RI WKH %RDUG )RU
DELOITTE HASKINS & SELLS LLP C RAMAKRISHNAN GUENTER BUTSCHEK Chartered Accountants Group Chief Financial Officer CEO & Managing Director B P SHROFF H K SETHNA S BORWANKAR Partner Company Secretary ED & Chief Operating
Officer Mumbai, August 9, 2017 Mumbai, August 9, 2017
TATA MOTORS LIMITED Condensed Cash Flow Statement for the period ended June 30, 2017 (? in crores) Quarter ended June 30, 2017
2016 Cash flows from operating activities: Profit/(loss) after tax (467.05) 25.75 Adjustments for: Depreciation and amortization expense 674.78 712.24 Allowances for trade and other receivables 22.39 40.49 Inventory write down/(write back)
84.89 (25.38) Loss on sale of assets (net) (including assets scrapped / written off) 5.34 (1.00) Profit on sale of investments at FVTPL (net) (20.57) (11.56) Marked-to-market on investments measured at Fair value through profit
or loss (1.94) (13.19) Tax expense 0.20 12.12 Interest/dividend (net) (249.59) (250.67) Foreign exchange (gain)/loss (net) (31.02) 116.61 484.48 579.66 Cash flows from operating activities before changes in following assets
and liabilities 17.43 605.41 Trade receivables (61.22) 23.07 Loans and advances and other financial assets (47.75) 4.94 Other current and non-current assets (105.82) (20.64) Inventories (1,105.55) (1,142.47) Trade
payables and acceptances (1,010.28) (808.85) Other current and non-current liabilities (305.22) (239.51) Other financial liabilities (258.51) (671.48) Provisions (12.33) (7.06) Cash generated from operations
(2,889.25) (2,256.59) Income taxes credit/(paid) (net) 49.63 (20.77) Net cash from operating activities (2,839.62) (2,277.36) Cash flows from investing activities: Payments for property, plant and equipments
(294.12) (567.73) Payments for other intangible assets (380.67) (283.76) Proceeds from sale of property, plant and equipments 3.94 2.14 Investments in Mutual Fund (purchased)/sold (net) 231.50 (264.99) Investments in
subsidiary companies—(81.12) (Increase)/Decrease in short term inter corporate deposit 20.00 7.00 Loans to subsidiary companies—(0.07) Deposits/restricted deposits with banks—(44.99) Realisation of deposits/restricted
deposits with banks 41.90 242.08 Interest received 35.67 33.04 Dividend received 582.28 566.96 Net cash from / (used in) investing activities 240.50 (391.44) Cash flows from financing activities Proceeds from long-term borrowings 622.16 829.88
Repayment of long-term borrowings (273.84) (780.80) Proceeds from short-term borrowings 3,455.44 1,372.58 Repayment of short-term borrowings (1,419.76)—Net change in other short-term borrowings (with maturity up to three months)
821.98 1,966.26 Interest paid [including discounting charges paid, ?79.75 crores (June 30, 2016 ?84.72 crores)] (554.55) (542.88) Net cash from financing activities 2,651.43 2,845.04 Net increase in cash and cash equivalents 52.31 176.24
Cash and cash equivalents as at April 1, (opening balance) 188.39 427.07 Exchange fluctuation on foreign currency bank balances (0.21) 0.79 Cash and cash equivalents as at June 30, (closing balance) 240.49 Non-cash transactions: Liability
towards property, plant and equipment and other intangible assets 454.20 purchased on credit/deferred credit Increase / (decrease) in liabilities arising from financing activities on account of non-cash transactions : Exchange differences
(20.61) Amortization / effective interest rate adjustments of borrowings 18.38 In terms of our report For and on behalf of the Board )RU DELOITTE HASKINS & SELLS LLP C RAMAKRISHNAN GUENTER BUTSCHEK Chartered Accountants Group Chief
Financial Officer CEO & Managing Director B P SHROFF H K SETHNA S BORWANKAR Partner Company Secretary ED & Chief Operating Officer Mumbai, August 9, 2017 Mumbai, August 9, 2017
TML Drivelines Limited Condensed Balance Sheet as at June 30, 2017 (? in lakhs) As at June 30, As at March 31, 2017 2017
I. ASSETS (1) Non-current assets D 3URSHUW 3ODQW DQG (TXLSPHQW E &DSLWDO ZRUN LQ SURJUHVV F ,QWDQJLEOH DVVHWV G ,QWDQJLEOH DVVHWV XQGHU GHYHORSPHQW I )LQDQFLDO DVVHWV L /RDQV DQG DGYDQFHV 1RQ FXUUHQW J $GYDQFH ,QFRPH WD[ DVVHWV QHW K 2WKHU
QRQ FXUUHQW DVVHWV 64,501.44 63,250.63 (2) Current assets D ,QYHQWRULHV E )LQDQFLDO DVVHWV L ,QYHVWPHQWV LL &DVK DQG FDVK HTXLYDOHQWV LLL /RDQV DQG DGYDQFHV LY 2WKHU ILQDQFLDO DVVHWV F 2WKHU FXUUHQW DVVHWV 39,131.08 40,530.09 TOTAL ASSETS
103,632.52 103,780.72 II. EQUITY AND LIABILITIES (1) Equity D (TXLW 6KDUH FDSLWDO E 2WKHU (TXLW 81,111.21 81,263.15 (2) Non-current liabilities D )LQDQFLDO OLDELOLWLHV L 2WKHU ILQDQFH OLDELOLWLHV E 3URYLVLRQV F ‘HIHUUHG WD[
OLDELOLWLHV QHW 9,802.13 9,953.46 (3) Current liabilities D )LQDQFLDO OLDELOLWLHV L 7UDGH SDDEOHV LL 2WKHU ILQDQFH OLDELOLWLHV E 3URYLVLRQV F &XUUHQW ,QFRPH WD[ OLDELOLWLHV QHW G 2WKHU FXUUHQW OLDELOLWLHV 12,719.18 12,564.11 TOTAL EQUITY
AND LIABILITIES 103,632.52 103,780.72 0.00 (0.00) ,Q WHUPV RI RXU UHSRUW )RU DQG RQ EHKDOI RI WKH %RDUG )RU DELOITTE HASKINS & SELLS LLP M SAMPATH KUMAR S B BORWANKAR Chartered Accountants Chief Executive Officer Chairman MOHAMMED BENGALI
GURVINDER SINGH AHUJA RAKESH MAKHIJA Partner Chief Financial Officer Director VISPI S PATEL Company Secretary Mumbai, August 1, 2017 Mumbai, August 1, 2017
TML Drivelines Limited Condensed Statement of Profit and Loss for the period ended June 30, 2017 (? in lakhs) Three months ended
June 30, Particulars 2017 2016 , 5HYHQXH )URP 2SHUDWLRQV ,, 2WKHU ,QFRPH ,,, Total Income (I+II) 10,481.98 15,640.01 ,9 Expenses: D &KDQJHV LQ LQYHQWRULHV RI ZRUN LQ SURJUHVV E (PSORHH FRVW EHQHILWV H[SHQVH F )LQDQFH FRVWV G
‘HSUHFLDWLRQ DQG DPRUWLVDWLRQ H[SHQVH H 2WKHU H[SHQVHV I ([SHQGLWXUH WUDQVIHUUHG WR FDSLWDO DQG RWKHU DFFRXQWV Total Expenses (IV) 10,663.38 13,166.96 9 Profit/(loss) before exceptional items and tax (III-IV) (181.40) 2,473.05 9,
Profit/(loss) before tax (V-VI) 9,, Tax expense: D &XUUHQW WD[ E ‘HIHUUHG WD[ 9,,, Profit/(loss) for the period from continuing operations (VII-VIII) (120.28) 1,784.32 ,; Other comprehensive income: $ L ,WHPV WKDW ZLOO QRW EH
UHFODVVLILHG WR SURILW DQG ORVV D 5HPHDVXUHPHQW JDLQV DQG ORVVHV RQ GHILQHG EHQHILW REOLJDWLRQV QHW LL ,QFRPH WD[ UHODWLQJ WR UHPHDVXUHPHQW JDLQV DQG ORVVHV RQ GHILQHG EHQHILW REOLJDWLRQV QHW Other comprehensive income/(loss) for the period
(31.66) (20.07) ; Total comprehensive income/(loss) for the period (IX+X) ;, Earnings per equity share: D 2UGLQDU VKDUHV L %DVLF ? ? LL ‘LOXWHG ? ? ,Q WHUPV RI RXU UHSRUW )RU DQG RQ EHKDOI RI WKH %RDUG )RU DELOITTE HASKINS &
SELLS LLP M SAMPATH KUMAR S B BORWANKAR Chartered Accountants Chief Executive Officer Chairman MOHAMMED BENGALI GURVINDER SINGH AHUJA RAKESH MAKHIJA PartnerPartner ChiefChiefFinancialinancial OfficerOfficer DirectorDirector VISPI S PATEL Company
Secretary Mumbai, August 1, 2017 Mumbai, August 1, 2017
TML Drivelines Limited Condensed Cash Flow Statement for the period ended June 30, 2017 (? in lakhs) Three Months ended
June 30, 2017 2016 Cash flows from operating activities: 3URILW ORVV IRU WKH HDU IURP FRQWLQXLQJ RSHUDWLRQV $GMXVWPHQWV IRU ‘HSUHFLDWLRQ DQG DPRUWL]DWLRQ /RVV RQ VDOH RI DVVHWV DVVHWV ZULWWHQ RII DQG RWKHUV QHW *DLQ RQ VDOH ORVV RQ IDLU
YDOXDWLRQ RI LQYHVWPHQWV QHW 5HPHDVXUHPHQW JDLQV DQG ORVVHV RQ GHILQHG EHQHILW REOLJDWLRQV )RUHLJQ H[FKDQJH JDLQ ORVV QHW ,QFRPH WD[ H[SHQVH ,QWHUHVW LQFRPH Cash flows from operating activities before working capital changes 783.40 4,309.18 ,QFUHDVH
GHFUHDVH LQ LQYHQWRULHV ,QFUHDVH GHFUHDVH LQ ORDQV DQG DGYDQFHV ,QFUHDVH GHFUHDVH LQ RWKHU FXUUHQW DVVHWV ,QFUHDVH GHFUHDVH LQ RWKHU QRQ FXUUHQW DVVHWV ,QFUHDVH GHFUHDVH LQ WUDGH SDDEOHV ,QFUHDVH GHFUHDVH LQ RWKHU ILQDQFLDO OLDELOLWLHV ,QFUHDVH
GHFUHDVH LQ SURYLVLRQV ,QFUHDVH GHFUHDVH LQ RWKHU FXUUHQW OLDELOLWLHV Cash generated from operations 1,974.47 4,452.03 ,QFRPH WD[ SDLG QHW Net cash generated by operating activities 1,555.24 3,900.85 Cash flows from investing activities: ,QFUHDVH
GHFUHDVH LQ VKRUW WHUP ,QWHU FRUSRUDWH GHSRVLWV ,QFUHDVH GHFUHDVH LQ )L[HG ‘HSRVLW ,QWHUHVW UHFHLYHG 3DPHQWV IRU SURSHUW SODQW DQG HTXLSPHQW 3URFHHGV IURP VDOH RI SURSHUW SODQW DQG HTXLSPHQW Net cash used in investing activities
(5,590.25) (1,601.35) Cash flows from financing activities: ‘LYLGHQGV SDLG LQFOXGLQJ GLYLGHQG GLVWULEXWLRQ WD[ Net cash provided by/(used in) financing activities —(2,316.88) 1HW FKDQJH LQ FDVK DQG FDVK HTXLYDOHQWV &DVK
DQG FDVK HTXLYDOHQWV DW WKH EHJLQQLQJ RI WKH SHULRG Cash and cash equivalents at the end of the period 20.56 26.34 ,Q WHUPV RI RXU UHSRUW )RU DQG RQ EHKDOI RI WKH %RDUG )RU DELOITTE HASKINS & SELLS LLP M SAMPATH KUMAR S B BORWANKAR
Chartered Accountants Chief Executive Officer Chairman MOHAMMED BENGALI GURVINDER SINGH AHUJA RAKESH MAKHIJA Partner Chief Financial Officer Director VISPI S PATEL Company Secretary Mumbai, August 1, 2017 Mumbai, August 1, 2017
REPORT ADOPTED BY THE BOARD OF DIRECTORS OF TATA MOTORS LIMITED AT ITS MEETING HELD ON MARCH 30, 2017 AT BOMBAY HOUSE, 24 HOMI MODY
STREET, MUMBAI 400 001 EXPLAINING EFFECT OF THE SCHEME OF MERGER AND ARRANGEMENT ON EACH CLASS OF SHAREHOLDERS, KEY MANAGERIAL PERSONNEL, PROMOTER AND NON-PROMOTER SHAREHOLDERS, LAYING OUT IN PARTICULAR THE SHARE EXCHANGE RATIO The proposed Scheme
of Merger and Arrangement between Tata Motors Limited (“the Company”) and TML Drivelines Limited, a wholly owned subsidiary of the Company (the “Transferor Company” or “TMLDL”) and their respective shareholders
(“the Scheme”) was approved by the Board of Directors of the Company vide Resolution passed at its Meeting held on March 30, 2017. The provisions of Section 232(2)(c) of the Companies Act, 2013, requires the directors to adopt a
report explaining the effect of the arrangement under the Scheme on each class of shareholders, key managerial personnel (“KMP”), promoter and non-promoter shareholders, laying out in particular the share exchange ratio, specifying any
special valuation difficulties. The said report is required to be circulated to the Shareholders along with the notice convening the Meeting. The Board noted that the Scheme does not contemplate any allotment of shares of the Company or the
Transferor Company. Having regard to the aforesaid provision, the Board of Directors have taken into consideration the report prepared by the Company’s management in relation to the Scheme which inter-alia includes the following: 1. Upon the
coming into effect of the Scheme and with effect from the Appointed Date, the Undertaking of the Transferor Company shall, pursuant to the provisions of Sections 230 to 232 and other applicable provisions, if any, of the Act, be and stand
transferred to and vested in and/or be deemed to have been transferred to and vested in the Transferee Company, as a going concern in accordance with Section 2(1B) and other applicable provisions of the Income Tax Act,1961, without any further
act, instrument, deed, matter or thing so as to become, as and from the Appointed Date, the undertaking of the Transferee Company, by virtue of and in the manner provided in this Scheme. 2. Valuation report is not required in cases where there is no
change in the shareholding pattern of the amalgamated company. Since, TMLDL is a wholly owned subsidiary of the Company, no shares will be issued and allotted by the Company pursuant to amalgamation and the shares of TMLDL held by the Company shall
stand cancelled. The shareholders of the Company will continue to remain beneficial owners of the Company in the same proportion in which they held shares in the Company prior to amalgamation. Accordingly, there will be no change in the shareholding
pattern of the Company. 3. As far as the shareholders of the Company are concerned (promoter shareholders as well as non-promoter shareholders) there would not be any dilution in their shareholding in the Company as there would be no issuance of
shares by the Company pursuant to the Scheme. 4. Further, no change in the KMP of the Company is expected pursuant to the Scheme becoming effective. By Order of the Board of Directors Tata Motors Limited Guenter Butschek Chief Executive
Officer & Managing Director DIN: 07427375
Route Map for Meeting Venue
Corporate Identification No. (CIN)—L28920MH1945PLC004520 Registered Office: Bombay House, 24, Homi Mody Street, Mumbai – 400
001 Tel: +91 22 6665 8282 Fax : +91 22 6665 7799 E-mail: inv rel@tatamotors.com Website: www.tatamotors.com ATTENDANCE SLIP (To be presented at the entrance) Members attending the Meeting in person or by Proxy are requested to complete the
attendance slip and hand it over at the entrance of the meeting hall. I hereby record my presence at the Meeting of the Company convened pursuant to the directions of The National Company Law Tribunal, Mumbai Bench at Walchand Hirachand Hall, 4th
Floor, Indian Merchants’ Chamber (IMC), IMC Building, IMC Marg, Churchgate, Mumbai – 400 020 at 3:00 p.m. on Wednesday, November 15, 2017. Folio No./Client ID No.*: DPID No.*: Name of the Member Signature Name of the Proxyholder
Signature 1. Only Member/Proxyholder can attend the Meeting. 2. Member/Proxyholder should bring his/her copy of the Notice for reference at the Meeting. 3. Those Members who have multiple folios with different joint holders may use copies of this
Attendance Slip. E-VOTING PARTICULARS ELECTRONICVOTINGEVENT NUMBER (EVEN) USER ID PASSWORD Corporate Identification No. (CIN)—L28920MH1945PLC004520 Registered Office: Bombay House, 24, Homi Mody Street, Mumbai – 400 001 Tel: +91 22 6665
8282 Fax : +91 22 6665 7799 E-mail: inv rel@tatamotors.com Website: www.tatamotors.com PROXY FORM [Pursuant to Section105(6) of the Companies Act, 2013, Rule19(3) of the Companies (Management and Administration) Rules, 2014 and Regulation 44 of the
SEBI (Listing Obligations and Disclosure Requirements) Regulations,2015] Name of the Member(s): Registered address : E-mail ID: Folio No./Client ID No.*: DPID No.*: *Applicable for investors holding shares in electronic form. I / We, being the
Member(s) holding Ordinary Shares and/or ‘A’ Ordinary Shares of Tata Motors Limited, hereby appoint: 1. Name: E-mail ID: Address: Signature: or failing him/her 2. Name: E-mail ID: Address: Signature: or failing him/her 3. Name: E-mail ID:
Address: Signature: as my/our Proxy to attend and vote (on a Poll) for me/us and on my/our behalf at the Meeting of the Equity Shareholders, convened pursuant to the direction of the National Company Law Tribunal, Mumbai Bench to be held on
Wednesday, November 15, 2017 at 3:00 p.m. at Walchand Hirachand Hall, 4th Floor, Indian Merchants’ Chamber (IMC), IMC Building, IMC Marg, Churchgate, Mumbai—400 020, and to vote for me/us and in my/our name(s) ‘FOR’† or
‘AGAINST’† (please put tick on appropriate box) on the Resolution for approving the Scheme of Merger and Arrangement of TML Drivelines Limited with Tata Motors Limited as my/our proxy. Signed this day of 2017 Affix Revenue Stamp
Signature of Member Signature of Proxyholder(s) Notes: 1. This Form in order to be effective should be duly completed and deposited at the Registered Office of the Company at Bombay House, 24, Homi Mody Street, Mumbai 400 001, not later than 48
hours before the commencement of the Meeting. 2. A Member may vote ‘FOR’ or ‘AGAINST’ the Resolution. If you leave the FOR or AGAINST box unticked, your Proxy will be entitled to vote in the manner as he/ she thinks appropriate.
If undelivered, please return to : TSR DARASHAW LTD. Unit Tata Motors Limited 6-10, Haji Moosa Patrawala Industrial Estate 20, Dr E.
Moses Road, Mahalaxmi Mumbai 400 011.
About Tata Motors:
Tata Motors Limited, a USD 42 billion organisation, is a leading global automobile manufacturer of cars, utility vehicles, buses, trucks and defence
vehicles. As India’s largest automobile company and part of the USD 100 billion Tata group, Tata Motors has operations in the UK, South Korea, Thailand, South Africa, and Indonesia through a strong global network of 76 subsidiary and
associate companies, including Jaguar Land Rover in the UK and Tata Daewoo in South Korea. In India, Tata Motors has an industrial joint venture with Fiat. Engaged in engineering and automotive solutions, with a focus on future-readiness and a
pipeline of tech-enabled products, Tata Motors is India’s market leader in commercial vehicles and among the top in passenger vehicles with 9 million vehicles on Indian roads. The company’s innovation efforts are focused on developing
auto technologies that are sustainable as well as suited. With design and R&D centres located in India, the UK, Italy and Korea, Tata Motors strives to pioneer new products that fire the imagination of GenNext customers. Abroad, Tata cars,
buses, and trucks are being marketed in Europe, Africa, the Middle East, South Asia, South East Asia, South America, Australia, CIS, and Russia.
To know
more, please visit (www.tatamotors.com; also follow us on Twitter: https://twitter.com/TataMotors)
Safe Harbor:
Statements included
herein may constitute “forward-looking statements”. Forward-looking statements are based on expectations, forecasts and assumptions by management and involve risks, uncertainties, and other factors that may cause our actual results,
performance or achievements to materially differ from those stated. We cannot be certain that any expectation, forecast or assumption made by management in preparing these forward-looking statements will prove accurate, or that any projection will
be realized. More detailed information about these and other factors that could affect future results is contained in our annual reports and filings with the Securities and Exchange Commission. Our forward-looking statements pertain to the date of
their initial issuance, and we do not undertake to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.