Leaders with a vision Tata Capital Board consists of valuable and extensively experienced individual experts in their domains.

They direct and nurture the Company with their priceless guidance, foresight and vision. Farrokh K. Kavarana Farrokh K. Kavarana is a Director of Tata Sons Limited and Tata Industries Limited, the apex holding companies of the Tata Group. He is the Chairman of several Tata Companies in India and abroad notably Tata AIG Life and General Insurance Companies, Tata Asset Management Ltd., Trent Ltd. and Tata Projects Ltd. Between 2000 and 2005, he served as the Executive Chairman of Tata Infotech Ltd. (now merged with Tata Consultancy Services), and from 1994 to 2000 he was the Executive Director of Tata Motors Limited, Indias largest automobile manufacturer. Prior to that, he shared his experience and vision as the Vice-Chairman and Managing Director of Tata International AG, Switzerland, responsible for the Tata Groups overseas operations and investments. Before joining the Tata Group in 1975, he held key positions with McKinsey & Co. Inc., in London and Washington D.C. as well as The Bowater Corporation in UK and Europe. Farokh Nariman Subedar Mr. F N Subedar is a qualified chartered accountant and company secretary and has vast experience in the matters of company administration, taxation, accounts and finance. He is the senior Vice President - Finance and Company Secretary of Tata Sons Ltd. and is on the board of various Tata companies. Mr. Subedar has served as the Chairman of the Direct Taxation Committee of the Bombay Chambers of Commerce and Industry. Hoshang Noshirwan Sinor Hoshang Noshirwan Sinor was the Chief Executive, Indian Banks Association, Mumbai, India till July 31, 2008. With 46 years of extensive experience in the banking sector, he has had exposure to the working of both public sector and private sector banks in India and has hence, had the experience of both the phases of nationalization and liberalization in this sector in India. He started his career in 1965 with Central Bank of India and in 1969 moved to Union Bank of India where his career grew with the company for 28 long years. In 1996, he was appointed as the Executive Director of Central Bank of India. Thereafter, he moved to ICICI Bank in July 1997 as Executive Director. On 1st June 1998, he took over as Managing Director and CEO of ICICI Bank. During his tenure, ICICI Bank emerged from a marginal player to a major player in banking fraternity. During this period, ICICI Bank also became the first bank from India to be listed on New York Stock Exchange. This was followed by an acquisition of an old private sector bank namely Bank of Madura in 2001 which gave ICICI Bank size and the geographic reach. Mr. Sinor has also worked on various committees of the Govt. of India, Reserve Bank of

India (RBI) and Confederation of Indian Industry (CII) and has contributed to numerous policy and decision making processes. Ishaat Hussain Ishaat Hussain, the Finance Director of Tata Sons Ltd. since July 2000, joined the Board of Tata Sons as an Executive Director on 1st July 1999. Prior to joining Tata Sons, he served as the Senior Vice-President and Executive Director Finance in Tata Steel where he served for almost 10 years. Besides being on the Board of Tata Sons Ltd., he is also the Chairman of Voltas Limited and Tata Sky Limited. He serves on the Boards of several Tata Companies like Tata Steel, Tata Industries, Tata Teleservices and Titan Industries Limited. Mr. Hussain is a member on the Primary Markets Advisory Committee of the Securities and Exchange Board of India (SEBI). In April 2005, he was appointed a Member of the Board of Trade and in November 2006 he was appointed a Public Interest Director of Bombay Stock Exchange Limited. Janki Ballabh Janki Ballabh joined the State Bank of India in July 1966 and served in several important positions which included assignments at the New York Branch of the Bank, Chief Executive Officer of the Bank's Branch at Singapore, Chief General Manager (Product Development, Marketing and Personal Banking) at the Corporate Office and Deputy Managing Director and Group Executive (International Banking), before taking over as Chairman, State Bank Group in November 1, 2000. Besides heading the State Bank of India, Shri Ballabh was also the chairman of the Seven Associate Banks of the State Bank of India, 4 banking subsidiaries of the Bank abroad and seven non-banking subsidiaries of the Bank in India. On retirement from State Bank of India, Shri Ballabh was appointed by the President of India as Vigilance Commissioner in the Central Vigilance Commission, New Delhi for 3 years from November 2002 to October 2005. Shri Ballabh worked as Chairman, Reserve Bank of India Services Board from 8th December 2005 to 23rd October 2007. He is presently the Chairman, UTI Trustee Co. of UTI Mutual Fund. He also serves as the Director on the Boards of Tata AIG Life Insurance Co. and Small Industries Development Bank of India (SIDBI). He is also a Member of the Asia Pacific Advisory Committee of Barclays Bank PLC, London since June 1, 2007. Praveen P Kadle Praveen P Kadle, the Managing Director of Tata Capital Limited, has been associated with the Tata Group for over 18 years in various important capacities. For the first 5 years, he served as the Chief Financial Officer of Tatas joint venture with IBM in India. Thereafter, he joined Tata Motors Limited as Vice-President (Finance) and in the year 2001 he joined the Board of Tata Motors Limited as Executive Director Finance and Corporate Affairs.