Contents
Board of Directors 02
Management Team 04
Chairman’s Letter 08
Management Discussion and Analysis 11
Corporate Governance 30
General Shareholder Information 42
Directors’ Report 50
Report on Corporate Social Responsibility 62
Standalone Financial Statements 71
Consolidated Financial Statements 127 Board of Directors Management Auditors
Rahul Bajaj Rahul Bajaj Dalal and Shah Chairman Chairman Chartered Accountants
Madhur Bajaj Madhur Bajaj Vice Chairman Vice Chairman
Rajiv Bajaj Rajiv Bajaj Cost Auditor Managing Director Managing Director A P Raman Sanjiv Bajaj Sanjiv Bajaj Cost Accountant (Executive Director Executive Director upto 31 March 2012; (upto 31 March 2012) Non-Executive Director from 1 April 2012) Pradeep Shrivastava Chief Operating Officer Bankers Kantikumar R Podar Abraham Joseph Central Bank of India State Bank of India Shekhar Bajaj Chief Technology Officer Citibank N A Standard Chartered Bank D J Balaji Rao R C Maheshwari President Bank of America ICICI Bank D S Mehta (Commercial Vehicle Business) HDFC Bank J N Godrej Rakesh Sharma President (International Business) S H Khan Eric Vas Registered under the Ms Suman Kirloskar President (Retail Finance) Companies Act, 1956
Naresh Chandra Kevin D’sa President (Finance) Nanoo Pamnani K Srinivas Registered Office Manish Kejriwal President (Motorcycle Business) Mumbai-Pune Road P Murari S Ravikumar Akurdi, Pune 411 035 Senior Vice President Niraj Bajaj (Business Development and Assurance) Amrut Rath Works Vice President (Human Resources) Akurdi, Pune 411 035 C P Tripathi Vice President (CSR) Aurangabad 431 136