Item		Table of Contents	Page No.
I.		HIGHLIGHTS	2
II.		DEFINITIONS	2
III.		RISK FACTORS	4
IV.		DUE DILIGENCE BY THE ASSET
		MANAGEMENT COMPANY	5
V.		EXPENSES	5
VI.		PREVIOUS SCHEMES OF TATA MUTUAL FUND	7
		Condensed Financial Information	7
VII.		CONSTITUTION OF TATA MUTUAL FUND	9
	i.	Constitution	9
	ii.	The Sponsors	9
	iii.	The Trustee Company	9
VIII.		INVESTMENT OBJECTIVE AND POLICIES	13
	i.	Investment Objective, Investment
		Strategy and Risk Management	13
	ii.	Investment Pattern and Risk Profile	13
	iii.	Change in Investment Pattern	13
	iv.	Investment by the Fund and
		Asset Management Company	13
	v.	Investment Limitations	13
	vi.	Portfolio Turnover	14
	ix.	Fundamental Attributes	14
IX.		MANAGEMENT OF THE FUND	14
	i.	The Asset Management Company	14
	ii.	Name and business experience/exposure
		of the key personnel of the AMC	17
	iii.	The Custodian	18
	iv.	The Registrar	18
	v.	The Auditor	18
	vi.	The Marketing Associates & Bankers	18
	vii.	List of Authorised Investor Service
		Centres	18
X.		UNITS & OFFER	19
	i.	Offer of Units	19
	ii.	Minimum Application	19
	iii.	Refund	19
	iv.	Despatch of Account Statement	19
	v.	Listing, Transfer & Pledge of Units	19
	vi.	Nomination Facility	19
	vii.	Applications with Additional Holders	19
	viii.	Systematic Investment Plan (SIP)	20
	ix.	Systematic Withdrawl Plan (SWP)	20
	x.	Systematic Transfer Plan (STP)	20
	xi.	Duration of the Scheme	20
	xii.	Winding Up	20
	xiii.	Procedure for Winding Up	20
XI.		SALE OF UNITS BEING OFFERED	20
	i.	Application Details	20
	ii.	Procedure for Application	21
	iii.	General Instructions	22
XII.		DIVIDENDS & DISTRIBUTIONS	23
XIII.		INTER SCHEME TRANSFER	23
XIV.		ASSOCIATE TRANSACTIONS	24
XV.		Borrowing by the Mutual Fund	26
XVI.		COMPUTATION OF NAV & VALUATION OF ASSETS	26
	i.	Computation & Determination of
		Net Asset Value	26
	ii.	NAV Information	26
	iii.	Valuation of Assets	26
XVII.		REPURCHASE, RESALE & SWITCH OF UNITS	27
	i.	Relevant NAV for Repurchase, Resale &
		Switch of Units	27
	ii.	Repurchase of Units of
		Tata Growth Fund	27
	iii.	Possible deferral of repurchase requests and
		compulsory repurchase	27
	iv.	Centres where repurchase/resale/switch requests
		can be given	28
	v.	Sale of Units of Tata Growth Fund on an
		ongoing basis	28
	vi.	Spread between Sale and Repurchase Price	28
	vi	Switch of Units within the Funds / Schemes /
		Plans of Tata Mutual Fund	28
	viii.	Suspension of ongoing Sale, Repurchase or
		Switch of Units	28
	ix.	Unclaimed Redemption/Dividend Amount	28
XVIII.		ACCOUNTING POLICIES	29
	i.	Accounts and Audit	29
XIX.		TAX TREATMENT OF INVESTMENTS IN MUTUAL FUNDS TAXATION	29
	i.	Tax Benefit to the Fund	29
	ii.	Tax Benefit to Unitholder	29
	iii.	Capital Gains Tax	30
XX.		INVESTORS’ RIGHTS & SERVICES	30
	i.	Rights	30
	ii.	Services	31
	iii.	Information regarding the Scheme	31
	iv.	Meeting and consent of Unitholders	31
	v.	Benefits to the Unitholders	31
	vi.	Documents available for inspection	31
XXI.		Investor Grievances Redressal Mechanism	31
XXII.		PENALTIES PENDING LITIGATION OR OF INSPECTIONS OR PROCEEDINGS, FINDINGS INVESTIGATIONS FOR WHICH ACTION MAY HAVE BEEN TAKEN OR IS IN THE PROCESS OF BEING TAKEN BY ANY REGULATORY AUTHORITY	32

· I. HIGHLIGHTS

· A Mutual Fund - sponsored by Tata Sons Limited (TSL), Tata Investment Corporation Limited (TICL), TD Bank Finanicial Group (TD).

· The Scheme is managed by Tata TD Waterhouse Asset Management Private Limited (TTDWAMPL).

o The fund was launched as a close ended Equity Linked Tax Savings Scheme in December 1991 and was open for subscription till 30^th March 1992. The duration of this scheme is till 31^st March 2002, as a close ended scheme. The scheme was launched by Indian Bank Mutual Fund under its banner as a scheme giving tax benefits to investors under Sec 80 CCB of the Income Tax Act 1961. This Section 80 CCB of the Income Tax Act 1961, was subsequently repealed after a few years and the scheme continued as an ordinary close ended equity fund, due to be redeemed in March 2002. With effect from 22.11.2001 the scheme is managed by TTDWAMPL. The scheme with effect from 1^st April 2002, shall become open ended (with no ELSS benefits) and will be offered at NAV based price with applicable loads. An exit option at NAV, without load shall be given to all the unitholders who do not agree to this conversion from close ended to open ended scheme based on NAV prevailing on 31.03.02, subject to TDS @ 20.4% (including surcharge) as required by the erstwhile Sec. 80CCB under which the scheme was launched.

o The unitholders continuing in the open ended scheme w.e.f. 1.04.02 would bear a TDS of 20.4% (including surcharge) of the NAV based total of their holding as on 31.03.02. Since they are holding units under the erstwhile Sec. 80CCB which requires TDS @20.4% (including surcharge) on the amount redeemed.

o W.e.f. from 1.04.02 this Offer Document places the earlier offer document in the year 1991.

o Investments in equity and equity related instruments of well researched growth oriented companies.

o Plans for making investment

· Plan A – Dividend

· Dividend if any, shall be declared at the discretion of the Trustees from time to time.

· Plan B – Appreciation

· The fund does not assure any targeted annual income to the unitholders. There will be no distribution of dividend under this option. Earning of the scheme will be replaced in the NAV.

o Scheme also open for subscription by NRIs.

o Scheme offers Systematic Investment Plan/Systematic Withdrawal Plan/Dividend Reinvestment facility to the Investors.

o Transparency of operations : Daily determination of Net Asset Value (NAV) and full disclosure of portfolio half-yearly.

o Investments in the Scheme are exempt from Wealth Tax under the prevailing direct tax laws.

o Repurchase/ Resale/Switch will be at Net Asset Value (NAV) related prices with loads as applicable.

o Income of the Fund totally exempt from income tax under Section 10 (23D) of the Income Tax Act, 1961.

o No tax deduction at source on redemption amounts for Resident Investors.

I. DEFINITIONS

1	“TMF” or “Fund”