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<in-bse-fin:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock contextRef="OneD">1. The Company is a Non Banking Financial Company and has no activities other than those of an investment company. Accordingly there are no separate reporting segments as in Ind AS 108 Operating Segment”.  n  n2. The above consolidated results are prepared in accordance with the principles set out in Indian Accounting Standard 110 'Consolidated Financial statements' and Indian Accounting Standard 28 'Investments in Associates and Joint Ventures' in Consolidated Financial Statements.  n  n3. In the previous year, effective from quarter ended December 31, 2019, the Company had chosen to exercise the option of lower tax rate of 25.17% (inclusive of surcharge and cess) under section 115BAA of the Income Tax Act, 1961 as introduced by the Taxation Laws (Amendment) Ordinance 2019 resulting in reversal of deferred tax on account of remeasurement of deferred tax liability under MAT. The full impact of this change has been recognised in tax expense for the quarter and nine months ended 31st December, 2019. Thus the total tax expense of corresponding quarter ended June 30, 2019 is not comparable.  n  n4. The Company would like to inform that, the national lockdown announced on March 23, 2020 owing to the COVID-19 pandemic affected activities of organizations across the economic ecosystem, impacting earning prospects and valuations of companies and creating volatility in the stock markets. The resultant impact on the fair value of the investments held by the Company are reflected in the Total Comprehensive Income and Total Equity of the Company for the quarter ended June 30, 2020, in line with the Accounting Policy consistently followed by the Company. The future income from investments and the valuations of investee companies would depend on the global economic developments in the coming months and the resumption of activity on gradual relaxation of Lockdowns. Based on the current assessment of the potential impact of the COVID-19 on the Company, management is of the view that the balance sheet of the Company has adequate liquidity to service its obligations and sustain its operations. The Management and Directors are actively engaged and will continue to closely monitor the future developments during the lockdown period.  n  n5. Previous periods' figures have been regrouped / recomputed, wherever necessary.  n  n6. The above results prepared and presented in pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 have been reviewed by the Audit Committee in its meeting held on 31st July, 2020 and were approved by the Board of Directors in its meeting held on that date. The statutory auditors of the Company have carried out the limited review of the aforesaid results.  n  n  n  n                                                                                                                       Tata Investment Corporation Limited  n                                                                                                                                                    Sd/-  n                                                                                                                                           ( Noel N. Tata )  n                                                                                                                                                Chairman  nMumbai, 31st July, 2020                                                                                                   Din No. 00024713</in-bse-fin:DisclosureOfNotesOnFinancialResultsExplanatoryTextBlock>
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