Cheers to All.
Just to summarise my answers to various questions raised on me here:
1. I have no intentions to mis-represent indian citizenship. All i want to do is to take it ot India once and show it off to my family, just as a souvenir.
I have my british passport and have my PIO card to go to India.
2. Yes, the cancelled Indian passport is clearly marked as such - i.e. "cancelled" in several pages including the cover page.
3. There is no such requirement (AFAIK) to surrender the cancelled Indian passport permanantly to the local Indian embassy in UK. Having said that i had personally requested to them that they give the cancelled passport back to me (of course this was an oral request, not in writing though!) - just to keep it as a souvenir and they happily did that after cancelling it (when they sent my PIO card to me in post!)
So, i guess the answer is, yes i can take it to India, just as an invalid document - all it means to me is a souvenir
regards.