Tata Steel today issued a clarification to the Bombay Stock Exchange that its value of assets tested for impairment were as per norms. Tata Steel Ltd said in a statement that its financial statements present a true and fair value of the company. The statement also added that as part of the preparation of financial assets, the value-in-use of the assets of the Company is tested for impairment as per the Accounting Standards. The company said it had nothing further to "comment or disclose."The exchanges made the procedural request after the former chairman of parent Tata Sons Ltd, Cyrus Mistry, yesterday said the group could face an 18 billion Dollar writedown, partly related to the acquisition of its European steel business.