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April 2011

Tata Motors Ltd. (31-3-2010)

By Himanshu V. Kishnadwala
Chartered Accountant
Reading Time 1 mins
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From Accounting Policies: Product Warranty Expenses: The estimated liability for product warranties is recorded when products are sold. These estimates are established using historical information on the nature, frequency and average cost of warranty claims and management estimates regarding possible future incidence based on corrective actions on product failures. The timing of outflows will vary as and when warranty claim will arise —being typically up to three years.

From Notes to Accounts: Other provisions include [Schedule 12(e), page 72]:

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