MIRA INFORM REPORT

Report Date :

12.12.2011

IDENTIFICATION DETAILS

Name :	EMAAR MGF LAND LIMITED
Formerly Known As :	EMAAR MGF LAND PRIVATE LIMITED
Registered Office :	ECE House, 28, Kasturba Gandhi Marg, New Delhi-110001
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	18.02.2005
Com. Reg. No.:	55-133161
Capital Investment / Paid-up Capital :	Rs.9126.198 Millions
CIN No.: [Company Identification No.]	U45201DL2005PLC133161
TAN No.: [Tax Deduction & Collection Account No.]	DELE03783D
PAN No.: [Permanent Account No.]	AABCE4308B
Legal Form :	A Closely Held Public Limited Liability Company.
Line of Business :	Real Estate Development, Promotion and Construction of High Rise Commercial and Residential Building, Hospitality and Leisure Services.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

A (60)

RATING		STATUS	PROPOSED CREDIT LINE
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large

Maximum Credit Limit :	USD 180000000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a joint venture between Emaar Properties PJSC of Dubai and MGF Development Limited of India. It is a well established company having fine track. Financial position of the company appears to be sound. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments/ The company can be considered normal for business dealings at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

LOCATIONS

Registered Office :	ECE House, 28, Kasturba Gandhi Marg, New Delhi-110001, India
Tel. No.:	91-11-41521155/ 41203444/ 41524618
Fax No.:	91-11-41524619
E-Mail :	bharat.garg@emaarmgf.com
Website :	http://www.emaarmgf.com
Branches :	Located At: · New Delhi · Hyderabad · Gurgaon · Mohali, · Chennai · Indore · Jaipur · Shillong

DIRECTORS

As on 30.09.2010

Name :

Mr. H E Mohammed Ali Alabbar

Designation :

Chairman cum Managing Director

Address :

615/13B, Nad Al Sheba, DM 25, Post Box 9440, Dubai, UAE

Date of Birth/Age :

08.11.1956

Date of Appointment :

07.11.2005

DIN No.:

01784611

Name :

Mr. Shravan Rajiv Gupta

Designation :

Executive Vice-Chairman and Managing Director

Address :

50, Golf Links, New Delhi-110003, India

Date of Birth/Age :

25.08.1973

Date of Appointment :

18.02.2005

DIN No.:

00002707

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U74899DL1983PLC016261	BAHUBALI SERVICES LIMITED	Director	01-01-92	01-01-92	14-08-07	Active	NO
2	U74899DL1995PTC069177	GEE GEE HOLDINGS PRIVATE LIMITED	Director	30-05-95	30-05-95	14-08-07	Active	NO
3	U74899DL1995PTC074505	CARDS SERVICES INDIA PRIVATE LIMITED	Director	18-12-95	18-12-95	14-08-07	Active	NO
4	U74899DL1996PLC081965	M G F DEVELOPMENTS LIMITED	Director	16-09-96	16-09-96	-	Active	NO
5	U45201DL1997PTC089985	MAHONIA ESTATE PRIVATE LIMITED	Director	17-11-97	17-11-97	07-08-07	Active	NO
6	U74899DL1998PLC093512	M G F MOTORS LIMITED	Director	13-04-98	13-04-98	-	Active	NO
7	U24231DL1998PLC093638	MGF AUTOMOBILES LIMITED	Director	04-05-98	04-05-98	-	Active	NO
8	U67110DL1998PTC093629	DISCOVERY HOLDINGS PRIVATE LIMITED	Director	04-05-98	04-05-98	30-06-08	Active	NO
9	U67110DL1998PTC093646	COLUMBIA HOLDINGS PRIVATE LIMITED	Director	05-05-98	05-05-98	24-08-09	Active	NO
10	U45201DL1998PTC093626	GROSVENOR ESTATES PRIVATE LIMITED	Director	14-05-98	14-05-98	14-08-07	Active	NO
11	U60231DL1999PLC102030	CAPITAL VEHICLES SALES LIMITED	Director	20-10-99	20-10-99	-	Active	NO
12	U34101DL1999PTC102031	KERALA CARS PRIVATE LIMITED	Director	24-03-00	24-03-00	-	Active	NO
13	U55101DL1993PTC053667	MOONLIGHT CONTINENTAL PRIVATE LIMITED	Director	25-08-00	25-08-00	24-08-09	Active	NO
14	U74899DL2000PTC108881	MGF INFOTECH PRIVATE LIMITED	Director	15-12-00	15-12-00	-	Active	NO
15	U45202DL2001PTC111611	COLUMBIA ESTATES PRIVATE LIMITED	Director	10-07-01	10-07-01	-	Active	NO
16	U51103DL2001PTC111937	DISCOVERY ESTATES PRIVATE LIMITED	Director	07-08-01	07-08-01	01-09-07	Active	NO
17	U45202DL2001PTC113256	MGF PROMOTERS PRIVATE LIMITED	Director	23-11-01	23-11-01	-	Active	NO
18	L74899DL1930PLC000208	THE MOTOR AND GENERAL FINANCE LIMITED	Director	11-07-02	11-07-02	30-03-07	Active	NO
19	U74899DL1992PTC050864	SAREEN ESTATES PRIVATE LIMITED	Director	21-02-03	21-02-03	24-08-09	Active	NO
20	U55101DL2003PTC123432	PARIS RESORTS PRIVATE LIMITED	Director	09-12-03	09-12-03	-	Active	NO
21	U74999DL2003PTC123419	MGF METRO MALL PRIVATE LIMITED	Director	09-12-03	09-12-03	-	Active	NO
22	U45201DL2003PLC118351	SSP AVIATION LIMITED	Director	23-12-03	23-12-03	-	Active	NO
23	U74899DL1976PTC008060	SHANTI APPARELS MANUFACTURING CO PRIVATE LIMITED	Director	30-10-04	30-10-04	-	Active	NO
24	U45201DL2005PLC133161	EMAAR MGF LAND LIMITED	Managing director	01-04-11	18-02-05	-	Active	NO
25	U45201DL2005PTC138796	MGF HOUSING AND INFRASTRUCTURE PRIVATE LIMITED	Director	18-07-05	18-07-05	-	Active	NO
26	U45201DL2005PTC141562	SHREY PROMOTERS PRIVATE LIMITED	Director	14-11-05	14-11-05	-	Active	NO
27	U45201RJ1995PTC009289	VISHNU APARTMENTS PVT. LTD. (PART IX)	Director	28-11-05	28-11-05	-	Active	NO
28	U45201DL2005PTC143065	METROPLEX CONSTRUCTION PRIVATE LIMITED	Director	28-11-05	28-11-05	15-03-07	Active	YES
29	U19201DL2005PTC144179	ARYAN LIFE STYLE PRIVATE LIMITED	Director	29-12-05	29-12-05	-	Active	YES
30	U45201DL2005PTC143419	HIRA REALTORS PRIVATE LIMITED	Director	14-08-06	14-08-06	29-09-07	Active	YES
31	U80301DL2006PTC155836	EMAAR MGF EDUCATION PRIVATE LIMITED	Director	23-11-06	23-11-06	-	Active	NO
32	U70109DL2006PTC150924	DIVINE BUILD TECH PRIVATE LIMITED	Director	24-11-07	24-11-07	-	Active	NO
33	U45200DL2008PTC178424	RADIANT PROMOTERS PRIVATE LIMITED	Director	21-05-08	21-05-08	-	Active	NO
34	U70109DL2006PTC152709	YASHODA PROMOTERS PRIVATE LIMITED	Director	11-08-08	11-08-08	-	Active	NO
35	U45200DL2006PTC153787	SHAILVI ESTATES PRIVATE LIMITED	Director	11-08-08	11-08-08	-	Active	NO
36	U45300DL2008PTC182840	YASHASVI BUILDTECH PRIVATE LIMITED	Director	05-09-08	05-09-08	-	Active	NO
37	U70109DL2006PTC152454	PUSHPAK PROMOTERS PRIVATE LIMITED	Director	07-04-09	07-04-09	-	Active	NO
38	U74999DL2011PTC221030	MGF PROMOTIONS AND EVENTS PRIVATE LIMITED	Director	16-06-11	16-06-11	-	Active	NO
39	U74140DL2011PTC221910	MGF ESTATES MANAGEMENT PRIVATE LIMITED	Director	05-07-11	05-07-11	-	Active	NO

Name :

Mr. Hussain Ahmed Qemzi

Designation :

Director

Address :

228/28, Al Mazhar Area, DM 30, Post Box 7084, Dubai, UAE

Date of Birth/Age :

16.03.1957

Date of Appointment :

01.11.2006

DIN No:

01784716

Name :

Mr. Ahmed Jamal Jawa

Designation :

Director

Address :

342/33, Al Jumeirah Road, DM-1, NR S/STN, P136, Villa B 13, Post Box 9327, Dubai, UAE

Date of Birth/Age :

30.05.1956

Date of Appointment :

01.11.2006

DIN No.:

01784747

Name :

Mr. Siddharth Rajiv Gupta

Designation :

Executive Director

Address :

50, Golf Links, New Delhi-110003, India

Date of Birth/Age :

30.06.1976

Date of Appointment :

18.02.2005

DIN No.:

00002715

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U74899DL1996PLC081965	M G F DEVELOPMENTS LIMITED	Director	17-11-97	17-11-97	-	Active	NO
2	U74899DL1983PLC016261	BAHUBALI SERVICES LIMITED	Director	17-11-97	17-11-97	14-08-07	Active	NO
3	U67110DL1998PTC093629	DISCOVERY HOLDINGS PRIVATE LIMITED	Director	10-07-98	10-07-98	-	Active	NO
4	U50101DL1998PTC093513	OMEGA MOTORS PRIVATE LIMITED	Director	10-07-98	10-07-98	-	Active	NO
5	U24231DL1998PLC093638	MGF AUTOMOBILES LIMITED	Director	10-07-98	10-07-98	-	Active	NO
6	U45201DL1998PTC093626	GROSVENOR ESTATES PRIVATE LIMITED	Director	10-07-98	10-07-98	14-08-07	Active	NO
7	U74899DL1998PLC093512	M G F MOTORS LIMITED	Director	20-10-99	20-10-99	-	Active	NO
8	U34101DL1999PTC102031	KERALA CARS PRIVATE LIMITED	Director	20-10-99	20-10-99	-	Active	NO
9	U74899DL2000PTC108881	MGF INFOTECH PRIVATE LIMITED	Director	15-12-00	15-12-00	-	Active	NO
10	U60231DL1999PLC102030	CAPITAL VEHICLES SALES LIMITED	Director	01-06-01	01-06-01	-	Active	NO
11	U45202DL2001PTC113256	MGF PROMOTERS PRIVATE LIMITED	Director	23-11-01	23-11-01	-	Active	NO
12	U74899DL1995PTC074505	CARDS SERVICES INDIA PRIVATE LIMITED	Director	10-12-01	10-12-01	14-08-07	Active	NO
13	U51103DL2001PTC111937	DISCOVERY ESTATES PRIVATE LIMITED	Director	03-06-02	03-06-02	10-09-07	Active	NO
14	U45201DL2003PTC118309	SAIESHA DEVELOPMENTS PRIVATE LIMITED	Director	06-01-03	06-01-03	-	Active	NO
15	U45201DL2003PLC118351	SSP AVIATION LIMITED	Director	08-01-03	08-01-03	-	Active	NO
16	L74899DL1930PLC000208	THE MOTOR AND GENERAL FINANCE LIMITED	Director	11-08-03	11-08-03	30-03-07	Active	NO
17	U55101DL1993PTC053667	MOONLIGHT CONTINENTAL PRIVATE LIMITED	Director	14-08-03	14-08-03	-	Active	NO
18	U74899DL1992PTC050864	SAREEN ESTATES PRIVATE LIMITED	Director	14-08-03	14-08-03	-	Active	NO
19	U67110DL1998PTC093646	COLUMBIA HOLDINGS PRIVATE LIMITED	Director	13-10-03	13-10-03	-	Active	NO
20	U55101DL2003PTC123432	PARIS RESORTS PRIVATE LIMITED	Director	09-12-03	09-12-03	-	Active	NO
21	U45201DL2004PTC124178	SSP DEVELOPERS PRIVATE LIMITED	Director	20-01-04	20-01-04	-	Active	NO
22	U50101DL2004PTC124272	MGF VEHICLE SALES PRIVATE LIMITED	Director	23-01-04	23-01-04	-	Active	NO
23	U50101DL2004PTC124273	MGF AUTO SALES PRIVATE LIMITED	Director	23-01-04	23-01-04	-	Active	NO
24	U74999DL2003PTC123419	MGF METRO MALL PRIVATE LIMITED	Director	01-04-04	01-04-04	-	Active	NO
25	U45201RJ1995PTC009289	VISHNU APARTMENTS PRIVATE LIMITED (PART IX)	Director	10-05-04	10-05-04	-	Active	NO
26	U74899DL1976PTC008060	SHANTI APPARELS MANUFACTURING CO PRIVATE LIMITED	Director	30-10-04	30-10-04	-	Active	NO
27	U45201DL2005PTC131792	MGF PROJECTS PRIVATE LIMITED	Director	03-01-05	03-01-05	-	Active	NO
28	U45201DL2005PTC132791	SSP BUILDCON PRIVATE LIMITED	Director	08-02-05	08-02-05	27-03-07	Active	NO
29	U45201DL2005PTC133083	SAIESHA PROJECTS PRIVATE LIMITED	Director	17-02-05	17-02-05	-	Active	NO
30	U45201DL2005PLC133161	EMAAR MGF LAND LIMITED	Director	01-09-11	18-02-05	-	Active	NO
31	U74899DL1973PTC006641	INTRA CHEMICALS AND DRUGS PRIVATE LIMITED	Director	09-07-05	09-07-05	-	Active	NO
32	U45201DL2005PTC138796	MGF HOUSING AND INFRASTRUCTURE PRIVATE LIMITED	Director	18-07-05	18-07-05	-	Active	NO
33	U45201DL2005PTC141562	SHREY PROMOTERS PRIVATE LIMITED	Director	06-10-05	06-10-05	-	Active	NO
34	U45201DL2005PTC143065	METROPLEX CONSTRUCTION PRIVATE LIMITED	Director	28-11-05	28-11-05	-	Active	YES
35	U45201DL2005PTC137476	GARLAND ESTATE PRIVATE LIMITED	Director	09-01-06	09-01-06	27-03-07	Active	NO
36	U45201DL2006PTC146988	SERIEL BUILD TECH PRIVATE LIMITED	Director	06-03-06	06-03-06	27-03-07	Active	NO
37	U80301DL2006PTC155836	EMAAR MGF EDUCATION PRIVATE LIMITED	Director	23-11-06	23-11-06	-	Active	NO
38	U70109DL2006PTC152110	VMR PROMOTERS PRIVATE LIMITED	Director	05-12-06	05-12-06	-	Active	NO
39	L66000MH1943PLC003899	JAYABHARAT CREDIT LIMITED	Director	27-12-06	27-12-06	28-08-07	Active	NO
40	U19201DL2005PTC144179	ARYAN LIFE STYLE PRIVATE LIMITED	Director	29-09-07	26-02-07	-	Active	YES
41	U70109DL2006PTC152852	ABHIRBHAV ESTATES PRIVATE LIMITED	Director	27-02-07	27-02-07	-	Strike off	NO
42	U70109DL2006PTC152665	ABHYUDAYA ESTATES PRIVATE LIMITED	Director	27-02-07	27-02-07	-	Strike off	NO
43	U70109DL2006PTC152020	ADINATH BUILDTECH PRIVATE LIMITED	Director	27-02-07	27-02-07	-	Strike off	NO
44	U70109DL2006PTC152332	AMBER BUILDTECH PRIVATE LIMITED	Director	27-02-07	27-02-07	-	Strike off	NO
45	U70109DL2006PTC152666	DEEPASHA ESTATES PRIVATE LIMITED	Director	27-02-07	27-02-07	-	Strike off	NO
46	U70109DL2006PTC152729	GRAM BUILDCON PRIVATE LIMITED	Director	27-02-07	27-02-07	-	Strike off	NO
47	U70109DL2006PTC152849	HARVANSH ESTATES PRIVATE LIMITED	Director	27-02-07	27-02-07	-	Strike off	NO
48	U70109DL2006PTC152333	KUNJAR PROMOTERS PRIVATE LIMITED	Director	27-02-07	27-02-07	-	Strike off	NO
49	U70109DL2006PTC151839	MADHYA PROMOTERS PRIVATE LIMITED	Director	27-02-07	27-02-07	-	Strike off	NO
50	U70109DL2006PTC152453	OPERA PROMOTERS PRIVATE LIMITED	Director	27-02-07	27-02-07	-	Strike off	NO
51	U70109DL2006PTC151925	PRATHIBHA PROMOTERS PRIVATE LIMITED	Director	27-02-07	27-02-07	-	Strike off	NO
52	U70109DL2006PTC152708	PRATHMESH BUILDTECH PRIVATE LIMITED	Director	27-02-07	27-02-07	-	Strike off	NO
53	U70109DL2006PTC152823	QUESTOR PROMOTERS PRIVATE LIMITED	Director	27-02-07	27-02-07	-	Strike off	NO
54	U70109DL2006PTC152712	RANBANKA PROMOTERS PRIVATE LIMITED	Director	27-02-07	27-02-07	-	Strike off	NO
55	U45200DL2006PTC153787	SHAILVI ESTATES PRIVATE LIMITED	Director	27-02-07	27-02-07	-	Active	NO
56	U70109DL2006PTC152090	SYMOND PROMOTERS PRIVATE LIMITED	Director	27-02-07	27-02-07	-	Strike off	NO
57	U70109DL2006PTC152111	VATSALYA ESTATES PRIVATE LIMITED	Director	27-02-07	27-02-07	-	Strike off	NO
58	U70109DL2006PTC152717	YOGYA PROMOTERS PRIVATE LIMITED	Director	27-02-07	27-02-07	-	Strike off	NO
59	U70109DL2006PTC152710	NAKUL PROMOTERS PRIVATE LIMITED	Director	27-02-07	27-02-07	-	Strike off	NO
60	U70109DL2006PTC152709	YASHODA PROMOTERS PRIVATE LIMITED	Director	27-02-07	27-02-07	-	Active	NO
61	U70109DL2006PTC152711	SANKET PROMOTERS PRIVATE LIMITED	Director	27-02-07	27-02-07	-	Strike off	NO
62	U70109DL2006PTC152019	SOUMYA PROMOTERS PRIVATE LIMITED	Director	27-02-07	27-02-07	-	Active	NO
63	U45200DL2006PTC153122	FAB ESTATES PRIVATE LIMITED	Director	27-02-07	27-02-07	-	Strike off	NO
64	U70109DL2006PTC152667	ABHILASHA INFRASTRUCTURE PRIVATE LIMITED	Director	27-02-07	27-02-07	07-05-07	Active	YES
65	U70109DL2006PTC152218	ANANDMAY PROMOTERS PRIVATE LIMITED	Director	27-02-07	27-02-07	07-05-07	Active	NO
66	U70109DL2006PTC152669	AVINASHI BUILDTECH PRIVATE LIMITED	Director	27-02-07	27-02-07	05-04-07	Active	NO
67	U70109WB2006PTC165835	FABWORTH PROMOTERS PRIVATE LIMITED	Director	27-02-07	27-02-07	27-02-07	Active	NO
68	U45201WB2003PLC097210	SAKET PROMOTERS LIMITED	Director	27-02-07	27-02-07	02-11-11	Active	NO
69	U55101DL2006PTC155675	BUDGET HOTELS INDIA PRIVATE LIMITED	Director	10-03-07	10-03-07	-	Active	NO
70	U52100DL2007PTC162123	MEGNA RETAIL PRIVATE LIMITED	Director	16-04-07	16-04-07	-	Active	NO
71	U45400DL2007PTC162126	SHANTI INTERIOR PRIVATE LIMITED	Director	01-06-09	16-04-07	27-11-09	Active	NO
72	U45200DL2006PTC155677	LEIGHTON CONSTRUCTION (INDIA) PRIVATE LIMITED	Director	06-08-07	06-08-07	-	Active	NO
73	U70101DL2006PTC148781	TRIYUG PROJECTS PRIVATE LIMITED.	Director	24-11-07	24-11-07	-	Active	NO
74	U45400DL2007PTC170752	DOVE PROMOTERS AND ENTERTAINMENT PRIVATE LIMITED	Director	26-11-07	26-11-07	-	Active	NO
75	U55101DL2007PTC161614	PREMIER INN INDIA PRIVATE LIMITED	Director	17-12-07	17-12-07	18-02-10	Active	NO
76	U70109DL2006PTC152824	APARNA BUILDCON PRIVATE LIMITED	Director	27-12-08	27-12-08	-	Active	NO
77	U70109DL2006PTC152454	PUSHPAK PROMOTERS PRIVATE LIMITED	Director	27-12-08	27-12-08	-	Active	NO
78	U70200DL2009PTC195268	MGF INFRATECH PRIVATE LIMITED	Director	15-10-09	15-10-09	-	Active	NO
79	U70101DL2009PTC195270	MGF LAND DEVELOPMENT VENTURES PRIVATE LIMITED	Director	15-10-09	15-10-09	-	Active	NO
80	U74900DL2009PTC195271	MGF POWER PRIVATE LIMITED	Director	15-10-09	15-10-09	-	Active	NO
81	U70109DL2009PTC195272	MGF PROPERTIES PRIVATE LIMITED	Director	15-10-09	15-10-09	-	Active	NO
82	U70109DL2009PTC195273	MGF DEVELOPERS PRIVATE LIMITED	Director	15-10-09	15-10-09	-	Active	NO
83	U93000DL2009PTC195275	MGF HOSPITALITY PRIVATE LIMITED	Director	15-10-09	15-10-09	-	Active	NO
84	U70101DL2009PTC195277	MGF PRIME CITY PRIVATE LIMITED	Director	15-10-09	15-10-09	-	Active	NO
85	U74899DL1972PTC006316	ORIOLE EXPORTS PVT LTD	Director	25-09-10	05-01-10	-	Active	NO
86	U70101HR2010PTC040517	METROPOLITAN INFRASTRUCTURE DEVELOPERS PRIVATE LIMITED	Director	12-05-10	12-05-10	-	Active	NO
87	U50300DL2011PTC223267	MGF AUTOMOTIVE SALES PRIVATE LIMITED	Director	04-08-11	04-08-11	-	Active	NO

Name :

Mr. Anil Bhalla

Designation :

Director

Address :

B-17, Maharani Bagh, New Delhi-110065, India

Date of Birth/Age :

14.09.1946

Date of Appointment :

25.09.2009

DIN No.:

00048724

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U74899DL1970PTC005461	RAHOUL SIEMSSEN ENGINEERING PRIVATE LIMITED	Director	16-05-84	16-05-84	15-12-09	Active	NO
2	U74899DL1979PTC010054	JAM HOLDINGS PRIVATE LIMITED	Director	02-03-88	02-03-88	-	Active	NO
3	L51434WB1923PLC004793	BERGER PAINTS INDIA LIMITED	Director	27-09-91	27-09-91	-	Active	NO
4	U64202DL1990PLC042425	LABURNUM FINANCE LIMITED	Director	17-03-98	17-03-98	10-10-08	Active	NO
5	U72900DL2004PTC124384	ENABLIZER BACKOFFICE TECHNOLOGIES PRIVATE LIMITED	Director	30-01-04	30-01-04	-	Active	NO
6	U29309DL1996PTC075342	AURO TEL COMMUNICATIONS PRIVATE LIMITED	Director	03-11-08	03-11-08	-	Active	NO
7	U93000DL2009PTC188502	PI ADVISORY PRIVATE LIMITED	Director	20-03-09	20-03-09	19-11-10	Active	NO
8	U45201DL2005PLC133161	EMAAR MGF LAND LIMITED	Director	25-11-09	25-09-09	-	Active	NO

Name :

Mr. Gautam Om Prakash Khaitan

Designation :

Director

Address :

N-12, Panchshel Park, New Delhi-110017, India

Date of Birth/Age :

06.05.1965

Date of Appointment :

03.09.2009

DIN No.:

000021117

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U29191DL1970PLC005309	SAHU REFRIGERATION INDUSTRIES LIMITED	Director	28-11-94	28-11-94	-	Active	NO
2	U55101DL1997PTC088037	FIFTY ONE HEADS RESORTS PRIVATE LIMITED	Director	19-06-97	19-06-97	-	Active	NO
3	U40102DL1999PTC100040	INDRAPRASTHA VIDYUT UDYOG PRIVATE LIMITED	Director	01-06-99	01-06-99	20-03-09	Active	NO
4	U74899DL2004PTC128514	DSAS STEELS PRIVATE LIMITED	Director	23-08-04	23-08-04	-	Active	NO
5	U14101RJ1992PTC006528	BHIWADI METAL ROLLWELL PRIVATE LIMITED	Director	30-09-10	10-02-10	-	Active	NO

Name :

Mr. Ghyanendra Nath Bajpai

Designation :

Director

Address :

131, Shaan Apartments, K.D. Marg, Prabhadevi, Mumbai-400028, Maharashtra, India

Date of Birth/Age :

06.07.1942

Date of Appointment :

19.09.2007

DIN No.:

00946138

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U32202DL1986PTC024575	INFOMERICS VALUATION AND RATING PRIVATE LIMITED	Director	17-03-05	17-03-05	-	Active	NO
2	U74999MH2003PTC139774	INVENT ASSETS SECURITISATION AND RECONSTRUCTION PRIVATE LIMITED	Director	26-05-05	26-05-05	-	Active	NO
3	U74100MH2005PTC154587	INTUIT CONSULTING PRIVATE LIMITED	Director	07-07-05	07-07-05	-	Active	NO
4	U72200MH2005PTC153209	EPITOME GLOBAL SERVICES PRIVATE LIMITED	Director	23-12-05	23-12-05	18-09-08	Active	NO
5	U66030MH2006PLC165287	FUTURE GENERALI INDIA INSURANCE COMPANY LIMITED	Director	23-11-07	16-03-07	-	Active	NO
6	U66010MH2006PLC165288	FUTURE GENERALI INDIA LIFE INSURANCE COMPANY LIMITED	Director	23-11-07	16-03-07	-	Active	NO
7	L17120MH1984PLC033553	MANDHANA INDUSTRIES LIMITED	Director	16-05-07	16-05-07	-	Active	NO
8	U74899DL2001NPL109345	INTERNATIONAL DEVELOPMENT ENTERPRISES (INDIA)	Director	25-06-07	25-06-07	-	Active	NO
9	U45201DL2005PLC133161	EMAAR MGF LAND LIMITED	Director	24-09-07	19-09-07	-	Active	NO
10	L65191KL1927PLC000307	DHANLAXMI BANK LIMITED	Director	07-05-08	26-09-07	-	Active	NO
11	L29120MH2005PLC156795	FUTURE CAPITAL HOLDINGS LIMITED	Director	14-08-08	27-09-07	-	Active	NO
12	U72900MH2002PTC134544	APNAPAISA PRIVATE LIMITED	Director	24-07-08	22-10-07	-	Active	NO
13	L07010KA2004PLC033412	NITESH ESTATES LIMITED	Director	30-09-08	29-11-07	-	Active	NO
14	U67190MH2004PLC150329	KSHITIJ INVESTMENT ADVISORY COMPANY LIMITED	Director	21-07-08	04-01-08	25-05-10	Active	NO
15	U67190MH2005PLC157444	FUTURE CAPITAL INVESTMENT ADVISORS LIMITED	Director	31-07-08	04-01-08	25-05-10	Active	NO
16	U67120MH1996PLC192090	FUTURE VENTURES INDIA LIMITED	Director	30-09-08	20-02-08	-	Active	NO
17	U67190MH2005PTC155404	INVENT ARC PRIVATE LIMITED	Director	24-09-08	16-05-08	-	Active	NO
18	L26942TN1951PLC000640	DALMIA BHARAT SUGAR AND INDUSTRIES LIMITED	Director	25-07-08	22-05-08	02-02-11	Active	NO
19	L85110KA1995PLC018045	KINGFISHER AIRLINES LIMITED	Director	26-12-08	15-10-08	-	Active	NO
20	U74899DL2000PLC103606	SHRIRAM NEW HORIZONS LIMITED	Director	30-09-10	23-10-09	-	Active	NO
21	U65922DL1988PLC033856	PNB HOUSING FINANCE LIMITED	Director	09-12-09	09-12-09	-	Active	NO
22	L31400WB1986PLC091621	USHA MARTIN LIMITED	Director	27-07-10	18-03-10	-	Active	NO
23	U65933MH1991PLC192261	FUTURE FINANCE LIMITED	Additional director	26-07-10	26-07-10	23-08-10	Active	NO
24	U00000DL2000PLC104823	MICROMAX INFORMATICS LIMITED	Director	27-09-11	21-09-10	-	Active	NO
25	L74999MH1908PLC000291	WALCHANDNAGAR INDUSTRIES LIMITED	Director	10-02-11	27-12-10	-	Active	NO
26	U65191TN1996PLC035963	DALMIA CEMENT (BHARAT) LIMITED	Director	08-08-11	09-02-11	-	Active	NO
27	U80302AP2002NPL039397	INSTITUTE OF INSURANCE AND RISK MANAGEMENT	Additional director	24-10-11	24-10-11	-	Active	NO

Name :

Mr. Abhiram Lekh Ram Seth

Designation :

Director

Address :

18, Anand Lok, New Delhi-110049, India

Date of Birth/Age :

09.12.1951

Date of Appointment :

30.09.2010

DIN No.:

00176144

Other Directorship:

S. No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U74899DL1995PTC074505	CARDS SERVICES INDIA PRIVATE LIMITED	Director	18-12-95	18-12-95	-	Active	NO
2	U15419PB1989PTC009114	PEPSI FOODS PRIVATE LIMITED	Director	01-07-98	01-07-98	27-03-08	Active	NO
3	U01110MH1995PLC091478	ION EXCHANGE ENVIRO FARMS LIMITED	Director	28-07-99	28-07-99	-	Active	NO
4	L74899DL1930PLC000208	THE MOTOR AND GENERAL FINANCE LIMITED	Director	29-04-06	29-04-06	-	Active	NO
5	U72900DL2000PTC105782	ATS SERVICES PRIVATE LIMITED	Director	30-09-06	24-06-06	-	Active	NO
6	U01229DL2007PTC194698	AQUAGRI PROCESSING PRIVATE LIMITED	Managing director	19-03-10	20-06-08	-	Active	NO
7	L74999MH1964PLC014258	ION EXCHANGE INDIA LIMITED	Additional director	25-07-08	25-07-08	-	Active	NO
8	U01403KA2007PTC042002	DRAKSHA VINEYARDS PRIVATE LIMITED	Director	26-11-08	26-11-08	05-12-09	Active	NO
9	U15500DL2009PTC189198	DAAWAT FRESH CUISINES PRIVATE LIMITED	Director	08-04-09	08-04-09	-	Active	NO
10	U73100DL2009PTC189597	APT BIOTECH PRIVATE LIMITED	Director	22-04-09	22-04-09	-	Active	NO
11	U45201DL2005PLC133161	EMAAR MGF LAND LIMITED	Director	30-09-10	28-12-09	-	Active	NO
12	U15209DL2005PLC135838	DAAWAT FOODS LIMITED	Director	29-09-10	28-01-10	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Bharat Bhushan Garg
Designation :	Secretary
Address :	KH-249, Kavi Nagar, Ghaziabad-201001, Uttar Pradesh, India
Date of Birth/Age :	27.11.1973
Date of Appointment :	27.04.2009
PAN No.:	AAXG0721B

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

Names of Shareholders	No. of Equity Shares
Emaar Holding II, Mauritius	396861783
Shravan Gupta	161132185
Kallarister Trading Limited, Cyprus	90520472
Siddharth Gupta	68794672
Snelvor Holdings Limited, Cyprus	46471865
Yulita Consultants Limited, Cyprus	39826863
Loupen Services Limited, Cyprus	28743096
Siddharth Sareen	24000408
EIF CO-INVEST IV, India	19211204
Coniza Promoters Private Limited, India	9593600
J. P. Morgan Mauritius Holdings II Limited, India	7237704
New York Life Investment Management India Fund II LLC, India	5332682
New York Life Investment Management India Fund (FVCI) II LLC, India	4083104
Elephant Investments Limited, Island	3831560
ANI Capital Holdings India Limited, Island	3128312
Abhaar International LLC, UAE	1083800
Pearl India Opportunities, Mauritius	928020
Bennett, Coleman and Co. Limited, India	549450
NDTV News Limited, India	362318
Blue Line India Opportunities, Mauritius	271980
Jacob Ballas Capital India Private Limited, India	240143
Parul Gupta	171312
Shilpa Gupta	171312
MGF Developments Limited, India	72000
Total	912619845
Names of Shareholders	No. of Preference Shares
IMR Infratech Private Limited, India	629550000
Total	629550000

As on 08.10.2010

List of Allottees	No. of Preference Shares Allotted
Horizon India B.V., Netherlands	231475200

Equity Shares Breakup (Percentage of Total Equity)

As on 30.09.2010

Category	Percentage
Venture Capital	0.45
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	70.51
Bodies corporate	1.18
Directors or relatives of Directors	27.86
Total	100.00

BUSINESS DETAILS

Line of Business :

Real Estate Development, Promotion and Construction of High Rise Commercial and Residential Building, Hospitality and Leisure Services.

GENERAL INFORMATION

Bankers :

State Bank of Patiala, Commercial Branch, Chandralok Building, 36, Janpath, New Delhi-110001, India

Facilities :

Secured Loans	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
Loans from banks:
Cash Credit Facilities	981.880	4597.570
Rupee Term Loans Due within one year - Rs. 3,779.34 million (previous year - Rs. 2,172.50 million)	3820.700	2745.000
Debentures Nil (previous year - 83.33) 11.0% Redeemable Non-Convertible Debentures of Rs.10,000,000 each redeemable at par	--	833.330
Other Loans:
Rupee Term Loans Due within one year - Rs. 1,976.79 million (previous year - Rs. 2,470.00 million)	6991.360	6175.230
Debentures 50,000,000 (previous year - 50,000,000) 11.75% Redeemable Non-Convertible Debentures of Rs.100 each redeemable at par	5000.000	5000.000
4,340 (previous year - 5,748) 16.0% Redeemable Non-Convertible Debentures of Rs.1,000,000 each redeemable at par	4340.000	5748.000
Total	21133.940	25099.130
Notes:- a) Cash credit facilities from banks to the extent of Rs. 267.52 million (previous year - Rs. 611.96 million) are secured against pledge of fixed deposit with the banks amounting to Rs. 1108.00 million (previous year - Rs. 700 million) together with the interest and all monies payable thereunder. b) Cash credit facilities from banks amounting to Rs. 8.48 million (previous year - Rs. 264.25 million) are secured by way of equitable mortgage over some of the land parcels / properties owned by subsidiary companies at an asset cover of 1.5 times the value of the loan, together with interest and other charges thereon. c) Cash credit facilities from banks amounting to Rs. Nil (previous year - Rs. 2,417.40 million) and Rupee term loans amounting to Rs. 2,000.00 million (previous year - Rs. Nil) availed from a bank are secured by way of: (i) equitable mortgage over some of the properties owned by subsidiary companies at an asset cover of 1.5 times the value of the loan and (ii) irrevocable, unconditional and payable on demand Corporate Guarantees of the companies owning land offered for mortgage. d) Cash credit facilities from banks amounting to Rs. 2.46 million (previous year - Rs. 403.97 million) are secured by way of equitable mortgage over some of the properties owned by subsidiary companies at an asset cover of 3 times the value of the loan and are further secured by Corporate Guarantees of the Companies owning land offered for mortgage. e) Cash credit facilities from banks amounting to Rs. 700.00 million (previous year - Rs. 700.00 million) are secured by way of equitable mortgage over some of the land parcels owned by subsidiary companies at an asset cover of 1.5 times the value of the loan together with interest and other charges thereon and are further secured by equitable charge on the entire current assets, present and future of the Company. f) Cash credit facilities from banks amounting to Rs. 3.42 million (previous year - Rs. 200.00 million) are secured by first equitable charge by way of hypothecation of entire current assets of the Company and further by equitable mortgage over a residential plot of land owned by subsidiary companies at an asset cover of 1.8 times the value of the loan. g) Rupee term loan of Rs. 390.00 million (previous year - Rs. 1000.00 million) availed from a bank is secured by equitable mortgage over a piece of land owned by subsidiary companies and is further secured by Corporate Guarantees of the subsidiary companies owning land offered for mortgage. h) Rupee term loan of Rs. 600.00 million (previous year - Rs. 600.00 million) availed from a bank is secured by equitable mortgage over some of the properties owned by subsidiary companies at an asset cover of 1.5 times the value of the loan. i) Rupee term loan of Rs. 150.00 million (previous year - Rs. 300.00 million) availed from a bank is secured by equitable mortgage over a residential plot of land owned by subsidiary companies at an asset cover of 1.8 times the value of the loan. j) Rupee term loan of Rs. 432.50 million (previous year - Rs. 845.00 million) availed from a bank is secured by exclusive charge over a piece of land on which a project undertaken by the Company is situated, along with structures thereon and is further secured by exclusive charge over escrow of the said project receivables. k) Rupee term loan of Rs. 248.20 million (previous year - Nil) availed from a bank is secured by exclusive charge over a piece of land on which a project undertaken by the Company is situated, along with structures thereon and is further secured by exclusive charge over escrow of the said project receivables. l) 11% Non convertible debentures of Rs. Nil (previous year - Rs. 833.33 million) issued to a bank are secured by exclusive equitable mortgage and charge over some of the converted properties owned by subsidiary companies at an asset cover of 2 times. These debtentures have been redeemed on March 28, 2010. m) Rupee term loan of Rs. 716.86 million (previous year - Rs. 2,425.23 million) availed from a financial institution is secured by first and exclusive charge by way of hypothecation of 87.5% of the total receivables from a project undertaken by the Company. This is further secured by way of equitable mortgage of the property being part of the land on which the project is situated, along with construction thereon, and other land parcels owned by the subsidiary Company. Futher, the above security (both land and cashflows) has also been provided for facility mentioned in point (n) below on pari-passu basis and the above land security has also been provided for facility mentioned in point (o) below on pari-passu basis. n) Rupee term loan of Rs. 2,297.00 million (previous year - Rs. Nil) availed from a financial institution is secured by first and exclusive charge by way of hypothecation of the Company’s share of the total receivables from a project undertaken by the Company. This is further secured by way of equitable mortgage of the property being part of the land on which the project is situated, along with construction thereon, and other land parcels owned by the subsidiary Company. Further, the above land security has also been provided for facility mentioned in point (o) below on pari-passu basis. o) Inter corporate deposit of Rs. 390.00 million (previous year - Rs. Nil) availed from a financial institution is secured by way of equitable mortgage of the property being part of the land on which the project is situated, along with construction thereon, owned by the subsidiary Company. Repayments are being made as mutually agreed with bank. p) Rupee term loan of Rs. 162.50 million (previous year - Rs. 750.00 million) availed from a financial institution is secured by exclusive first mortgage over some of the properties owned by subsidiary companies at an asset cover of 1.5 times the value of the loan. q) Rupee term loan of Rs. 3,000.00 million (previous year - Rs. 3,000.00 million) availed from a financial institution is secured by exclusive first mortgage over some of the land parcels owned by subsidiary companies at an asset cover of 1.75 times the value of the loan and is further secured by equitable mortgage on the receivables from the project being undertaken by the subsidiary of the Company for which the loan has been procured The loan is further secured by personal guarantee of a director of the Company. r) Rupee term loan of Rs. 425.00 million (previous year - Rs. Nil) availed from a financial institution is secured by way of (i) equitable mortgage of land and structure thereon, (ii) security at any point of time to be 2.5 times of the loan amount, (iii) negative lien at any point of time to be 1.75 times of the loan amount, (iv) negative lien to be spread over all blocks, (v) assignment of receivables of the project, (vi) assignment security of immovable property with good marketability equal to the loan amount. s) 11.75% Redeemable Non-Convertible Debentures of Rs. 5,000.00 million (previous year - Rs. 5,000.00 million) issued to a financial institution are secured by way of mortgage of some of the land parcels owned by subsidiary companies at an asset cover of 1.5 times. These debentures are due for redemption in four equal quarterly installments of Rs 1,250.00 million each from June 30, 2011 to March 31, 2012. t) 16.00 % Redeemable Non-Convertible Debentures of Rs. 4,340.00 million (previous year - Rs. 5,748.00 million) privately placed with a mutual fund asset management company are secured by way of equitable mortgage and charge over some of the properties owned by Group at an asset cover of 2 times the principal amount along with interest whether due or not, which shall be ensured during the currency of the debentures. Debenture aggregating to Rs. 3,750 million due for redemption in monthly installments of (i) Rs. 75 million starting from April 25, 2009 to September 25, 2009 (ii) Rs. 150 million starting from October 25, 2009 to December 25, 2009 (iii) Rs. 187.50 million from January 25, 2010 to March 25, 2010 (iv) Rs. 375 million starting from April 25, 2010 to August 25, 2010 (v) Rs. 412.50 million on September 16, 2010. Debenture aggregating to Rs. 1,250 million were due for redemption in monthly installments of (i) Rs. 25 million starting from April 25, 2009 to September 25, 2009 (ii) Rs. 50 million starting from October 25, 2009 to December 25, 2009 (iii) Rs. 6.250 million from January 25, 2010 to March 25, 2010 (iv) Rs. 125 million starting from April 25, 2010 to August 25, 2010 (v) Rs. 137.50 million on Septermber 16, 2010. The lender has agreed for reduction of principal repayment amount from existing Rs. 200.00 million per month due from Oct - Dec 09 and Rs. 250.00 million per month due from Jan to Mar 10 to Rs. 100 million per month starting from Oct 09 till Company's forthcoming IPO or latest by March 31, 2010. A shortfall in principal repayment amount will be covered and paid from company's forthcoming IPO's proceeding. The shortfall of Rs. 540.00 million is considered for repayment in the month of October 2010
Unsecured Loans	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
Short Term
From Banks
- Cash Credit Facilities	245.180	287.970
- Rupee Term Loans	2004.800	585.000
Due within one year - Rs. 2004.80 million (previous year - Rs. 585.00 million)
Others
From Banks
- Foreign Currency Term Loans Due within one year - Nil (previous year - Rs. 1,532.52 million)	--	1532.520
From Others
Debentures 179,195 (previous year - 179,195) 3% Fully Convertible Debentures of Rs.100,000 each redeemable at premium	17919.500	17919.500
62,955 (previous year - 62,955) 13.48% Fully Convertible Debentures of Rs.100,000 each redeemable at par	6295.500	6295.500
Total	26464.980	26620.490
Notes:- a) Cash credit facilities of Rs. 245.18 million (previous year - Rs. 287.97 million) and Rupee term loans of Rs. 2004.80 million (previous year - Rs. 585.00 million) are availed from a bank against which Counter Guarantee has been given by Emaar Properties, PJSC. b) Foreign currency loans of Rs. Nil (previous year - Rs. 1,532.52 million) was availed from a bank against which Counter Guarantee had been given by Emaar Properties, PJSC. c) The Company had issued Fully convertible debentures(FCD's) aggregating to Rs.17,919.50 million (previous year - Rs.17,919.50 million) on privately placement basis .FCD's aggregating to Rs. 6,820.50 million (previous year Rs. 6,820.50 million) as per the First Subscription Agreement and FCD's aggregating to Rs. 11,099.00 million (previous year Rs. 11,099.00 million) as per the Second Subscription Agreement were convertible into Redeemable Preference Shares(RPS) at an mutually agreed Conversion Premium with the subscriber. The FCD's conversion into RPS shall be done 3 business days before the respective RPS redemption date at the request of the subscriber. The redemption of the RPS was to be done on April 11, 2010, October 11, 2010 and April 11, 2011 or any other dates as mutually agreed between the parties, which shall be on or before October 10, 2011 (i.e. 60 months from October 11, 2006). The Company and the subscriber have agreed through various amendment letters and amendment agreements for the First and Second Subscription agreements dated April 8th 2010, April 9th, 2010 and May 6th 2010 for (a) extension of the redemption date of the First Tranche RPS from April 11,2010 to May 31, 2010, which is within the overall maturity period of 60 months from October 11, 2006 (b) to crystallise the amounts payable in respect of the Debenture Coupon and Additional Debenture Coupon on the due dates i.e April 12th 2010 and May 10,2010. d) 13.48% Fully convertible debentures of Rs. 6,295.50 million (previous year - Rs. 6,295.50 million) have been privately placed and are convertible into redeemable preference shares at par at the end of 38 months period from the date of completion of subscription, i.e. April 23, 2007. The company is required to redeem the redeemable preference shares at the end of 39 months from the date of completion of subscription, i.e. April 23, 2007.

Banking Relations :	--
Financial Institute:	LIC Housing Finance Limited, Bombay Life Building, 2^nd Floor, 45/47, Veer Nariman Road, Mumbai-400001 – 400001, Maharashtra, India
Auditors :
Name :	S R Batliboi and Company Chartered Accountant
Address :	Golf View, Corporate Tower-B, Sector-42, Sector Road, Gurgaon-122002, Haryana, India
Name of subsidiaries indirectly owned by the Company :	Aashirwad Conbuild Private Limited Abbey Properties Private Limited Abbot Builders Private Limited Abhinav Projects Private Limited Abyss Properties Private Limited Accession Buildwell Private Limited Accordion Buildwell Private Limited Achates Buildcon Private Limited Acorn Buildmart Private Limited Acorn Developers Private Limited Active Promoters Private Limited Active Securities Limited Acutech Estates Private Limited Adze Properties Private Limited Allegiance Conbuild Private Limited Allied Realty Private Limited Alpine Buildcon Private Limited Amar Gyan Developments Private Limited Amardeep Buildcon Private Limited Aparajit Promoters Private Limited Archit Promoters Private Limited Ardor Conbuild Private Limited Arman Promoters Private Limited Armour Properties Private Limited Auspicious Realtors Private Limited Authentic Properties Private Limited Avinashi Buildtech Private Limited Bailiwick Builders Private Limited Balalaika Builders Private Limited Ballad Conbuild Private Limited Bhavishya Buildcon Private Limited Bhavya Conbuild Private Limited Bhumika Promoters Private Limited Brijbasi Projects Private Limited Brilliant Build tech Private Limited Camarederie Properties Private Limited Camellia Properties Private Limited Capex Projects Private Limited Casing Properties Private Limited Cassock Properties Private Limited Cats Eye Properties Private Limited Charbhuja Properties Private Limited Charismatic Realtors Private Limited Chhavi Buildtech Private Limited Chintz Conbuild Private Limited Chirayu Buildtech Private Limited Choir Developers Private Limited Chum Properties Private Limited Compact Projects Private Limited Consummate Properties Private Limited Crock Buildwell Private Limited Crocus Builders Private Limited Crony Builders Private Limited Deep Jyoti Projects Private Limited Divit Estates Private Limited Dove Promoters Private Limited Ducat Builders Private Limited Dumdum Builders Private Limited Easter Conbuild Private Limited Ecliptic Conbuild Private Limited Eclogue Conbuild Private Limited Ecru Builders Private Limited Ecstasy Conbuild Private Limited Eddy Conbuild Private Limited Edge Conbuild Private Limited Edict Conbuild Private Limited Edifice Conbuild Private Limited Edit Estates Private Limited Effusion Conbuild Private Limited Elan Conbuild Private Limited Elegant Propbuild Private Limited Elite Conbuild Private Limited Elixir Conbuild Private Limited Elver Conbuild Private Limited Eminence Conbuild Private Limited Enigma Properties Private Limited Estuary Conbuild Private Limited Eternal Buildtech Private Limited Ether Conbuild Private Limited Ethic Conbuild Private Limited Ethnic Properties Private Limited Everwel Estates Private Limited Expanse Conbuild Private Limited Exponent Conbuild Private Limited Extremity Conbuild Private Limited Fable Conbuild Private Limited Façade Conbuild Private Limited Facet Estates Private Limited Flick Propbuild Private Limited Fling Propbuild Private Limited Flip Propbuild Private Limited Floret Propbuild Private Limited Flotilla Propbuild Private Limited Flounce Propbuild Private Limited Flue Propbuild Private Limited Fluff Propbuild Private Limited Fluke Propbuild Private Limited Foal Propbuild Private Limited Fondant Propbuild Private Limited Foray Propbuild Private Limited Forsythia Propbuild Private Limited Fount Propbuild Private Limited Foyer Propbuild Private Limited Fray Propbuild Private Limited Frieze Propbuild Private Limited Frisson Propbuild Private Limited Frond Propbuild Private Limited Froth Propbuild Private Limited Futuristic Buildwell Private Limited Gable Propbuild Private Limited Gadget Propbuild Private Limited Gaff Propbuild Private Limited Gaiety Propbuild Private Limited Gait Propbuild Private Limited Galleon Propbuild Private Limited Gallery Propbuild Private Limited Gallium Propbuild Private Limited Gambit Propbuild Private Limited Gamete Propbuild Private Limited Gamut Propbuild Private Limited Garland Estate Private Limited Garnet Propbuild Private Limited Garuda Properties Private Limited Gateau Propbuild Private Limited Gaucho Propbuild Private Limited Gauge Propbuild Private Limited Gauntlet Propbuild Private Limited Gavel Properties Private Limited Gems Buildcon Private Limited Genre Propbuild Private Limited Gentian Propbuild Private Limited Gentry Propbuild Private Limited Geodesy Properties Private Limited Gibbon Propbuild Private Limited Girder Propbuild Private Limited Glade Propbuild Private Limited Glaze Estates Private Limited Glen Propbuild Private Limited Glen Propbuild Private Limited Glimpse Propbuild Private Limited Glitz Propbuild Private Limited Globule Propbuild Private Limited Gloss Propbuild Private Limited Glove Propbuild Private Limited Godawari Buildwell Private Limited Godson Propbuild Private Limited Golliwog Propbuild Private Limited Gracious Technobuild Private Limited Gradient Developers Private Limited Grail Propbuild Private Limited Grampus Propbuild Private Limited Gran Propbuild Private Limited Granar Propbuild Private Limited Grange Propbuild Private Limited Granule Propbuild Private Limited Grapeshot Propbuild Private Limited Grassroot Promoters Private Limited Gravel Propbuild Private Limited Grebe Propbuild Private Limited Griddle Propbuild Private Limited Grog Propbuild Private Limited Grove Propbuild Private Limited Grunge Propbuild Private Limited Guffaw Propbuild Private Limited Gull Propbuild Private Limited Guru Rakha Projects Private Limited Gyan Jyoti Estates Private Limited Gyankunj Constructions Private Limited Haddock Propbuild Private Limited Haft Propbuild Private Limited Hake Developers Private Limited Halibut Developers Private Limited Hamlet Buildwell Private Limited Hammock Buildwell Private Limited Hartej Estates Private Limited Hope Promoters Private Limited Immense Realtors Private Limited Jamb Propbuild Private Limited Janitor Propbuild Private Limited Jasper Propbuild Private Limited Jaunt Propbuild Private Limited Jay Propbuild Private Limited Jemmy Propbuild Private Limited Jerkin Propbuild Private Limited Jetty Propbuild Private Limited Jig Propbuild Private Limited Jive Propbuild Private Limited Juhi Promoters Private Limited Kamdhenu Projects Private Limited Kartikay Buildwell Private Limited Kayak Propbuild Private Limited Kedge Propbuild Private Limited Kestrel Propbuild Private Limited Kismet Propbuild Private Limited Knoll Propbuild Private Limited Ladle Propbuild Private Limited Lavish Propbuild Private Limited Legend Buildcon Private Limited Legend Buildwell Private Limited Lifeline Build Tech Private Limited Locus Propbuild Private Limited Logical Developers Private Limited Logical Estates Private Limited Maestro Estates Private Limited Mahonia Estates Private Limited Mansarovar Projects Private Limited Markwel Promoters Private Limited Mega City Promoters Private Limited MG Colonizers Private Limited Milky Way Realtors Private Limited odular Estates Private Limited Monarch Buildcon Private Limited Monga Properties Private Limited Multitude Infrastructures Private Limited Naam Promoters Private Limited Navrattan Buildcon Private Limited Nayas Projects Private Limited Nettle Propbuild Private Limited Newt Propbuild Private Limited Nipper Propbuild Private Limited Nishkarsh Estates Private Limited Notch Propbuild Private Limited Pansy Buildcons Private Limited Paving Propbuild Private Limited Perch Conbuild Private Limited Perpetual Realtors Private Limited Pipalashray Estate Private Limited Potential Propbuild Private Limited Pragya Buildcon Private Limited Pratiksha Buildcon Private Limited Prezzie Buildcon Private Limited Progeny Buildcon Private Limited Prosperous Buildcon Private Limited Prosperous Constructions Private Limited Pukhraj Realtors Private Limited Pulse Estates Private Limited Pushkar Projects Private Limited Ram Ban Projects Private Limited Rolex Estates Private Limited Rose Gate Estates Private Limited Rudraksha Realtors Private Limited Sacred Estates Private Limited Sambhavee Projects Private Limited Sandesh Buildcon Private Limited Sankalp Buildtech Private Limited Sankalp Promoters Private Limited Sanskar Buildcon Private Limited Sanskar Buildwell Private Limited Sanyukta Promoters Private Limited Sapphire and Sands Private Limited Sarvodaya Buildcon Private Limited Sarvpriya Realtors Private Limited Seriel Buildtech Private Limited Sewak Developers Private Limited Sharyans Buildcon Private Limited Shaurya Propbuild Private Limited Shitij Buildcon Private Limited Shrestha Conbuild Private Limited Shrey Promoters Private Limited Sidhant Buildcon Private Limited Sidhivinayak Buildcon Private Limited Sidhivinayak Durobuild Private Limited Signages Properties Private Limited Silver Sea Vessel Management Private Limited Smridhi Technobuild Private Limited Snow White Buildcon Private Limited Sonex Projects Private Limited Sparsh Promoters Private Limited Spiritual Realtors Private Limited Sprouting Properties Private Limited Spurt Projects Private Limited Sriyam Estates Private Limited Stash Propbuild Private Limited Stave Propbuild Private Limited Stein Propbuild Private Limited Stent Propbuild Private Limited Strut Propbuild Private Limited Sukhda Promoters Private Limited Sukhjit Projects Private Limited Tacery Builders Private Limited Tanmay Developers Private Limited TCI Project Management Private Limited Tinnitus Builders Private Limited Tocsin Builders Private Limited Toff Builders Private Limited Tome Builders Private Limited Tomtom Builders Private Limited Trattoria Properties Private Limited Trawler Properties Private Limited Triad Properties Private Limited True Value Build-Con Private Limited Tushar Projects Private Limited Utility Estates Private Limited Utkarsh Buildcon Private Limited Versatile Conbuild Private Limited Virasat Buildcon Private Limited VPG Developers Private Limited Waif Propbuild Private Limited Whelsh Properties Private Limited Winkle Properties Private Limited Yeti Properties Private Limited Yogiraj Promoters Private Limited Yukti Projects Private Limited Zing Properties Private Limited Zither Buildwell Private Limited Zonex Developers Private Limited Zonex Estates Private Limited Zulu Properties Private Limited
Name of subsidiaries directly owned by the Company :	Budget Hotels India Private Limited Educt Propbuild Private Limited Fabworth Promoters Private Limited Lotus Technobuild Private Limited Nandita Promoters Private Limited Pratham Promoters Private Limited Prayas Buildcon Private Limited Raksha Buildtech Private Limited Vitality Conbuild Private Limited Wembley Estates Private Limited Arma Buildmore Private Limited U70109DL2006PTC152668 Easel Propbuild Private Limited U20296DL2007PTC162117 Edenic Probuild Private Limited U45400DL2007PTC162103 Emaar MGF Construction Private Limited U70109DL2006PTC154556 Emaar MGF Hospitality Private Limited U55204DL2007PTC171167 Emaar MGF Projects Private Limited U45400DL2007PTC164852 Emaar MGF Services Private Limited U74930DL2006PTC154644 Enamel Probuild Private Limited U45400DL2007PTC161948 Epitome Probuild Private Limited U45400DL2007PTC162104 Gurukul Promoters Private Limited U70109DL2006PTC152221 Kudos Probuild Private Limited U01403DL2007PTC159832

CAPITAL STRUCTURE

As on 30.09.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
3000000000	Equity shares	Rs. 10/- each	Rs.30000.000 Millions
3000000000	Preference Shares	Rs. 10/- each	Rs.30000.000 Millions
	Total		Rs.60000.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
912619845	Equity Shares	Rs. 10/- each	Rs.9126.198 Millions
629550000	Preference Shares	Rs. 10/- each	Rs.6295.500 Millions
	Total		Rs.15421.698 Millions

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
1700000000	Equity shares	Rs. 10/- each	Rs.17000.000 Millions
1000000000	Preference Shares	Rs. 10/- each	Rs.10000.000 Millions
	Total		Rs.27000.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
912619845	Equity Shares	Rs. 10/- each	Rs.9126.198 Millions

Note:-

Of the Issued, Subscribed and Paid up Share Capital, 759972598 (previous year 759972598) Equity Shares of Rs.10 each are allotted as fully paid up bonus shares by capitalisation of Securities Premium .

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		9126.200	9052.050	9050.180
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		37304.240	36138.010	38364.110
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		46430.440	45190.060	47414.290
LOAN FUNDS
1] Secured Loans		21133.940	25099.130	19296.250
2] Unsecured Loans		26464.980	26620.490	27660.830
TOTAL BORROWING		47598.920	51719.620	46957.080
DEFERRED TAX LIABILITIES		393.610	0.000	0.000
TOTAL		94422.970	96909.680	94371.370
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		5445.170	5633.900	5082.140
Capital work-in-progress		2072.640	1631.490	1503.230
INVESTMENT		1325.390	740.310	866.270
DEFERREX TAX ASSETS		197.050	574.260	82.540
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	25416.170	16039.970	12694.970
	Sundry Debtors	1796.620	3064.330	1254.960
	Cash & Bank Balances	1661.550	990.540	509.340
	Other Current Assets	690.900	330.720	2434.320
	Loans & Advances	84360.670	85774.670	80947.180
Total Current Assets		113925.910	106200.230	97840.770
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	7394.050	2493.440	10967.560
	Other Current Liabilities	21426.110	15876.110
	Provisions	57.610	61.250	40.420
Total Current Liabilities		28877.770	18430.800	11007.980
Net Current Assets		85048.140	87769.430	86832.790
MISCELLANEOUS EXPENSES		334.580	560.290	4.400
TOTAL		94422.970	96909.680	94371.370

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	10371.130	5627.240	10268.970
		Other Income	321.830	231.440	474.060
		TOTAL (A)	10692.960	5858.680	10743.030
Less	EXPENSES
		Cost of Sales	5405.830	3138.690	4695.860
		Personnel Expenses	445.950	790.360	542.270
		Operating and other expenses	914.700	1640.180	2137.400
		Advances Written off	933.320	56.540	0.000
		Provision for Doubtful Advances	54.650	12.190	0.000
		Prior Period Items	0.000	312.410	[1.540]
		TOTAL (B)	7754.450	5950.370	7373.990
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		2938.510	[91.690]	3369.040
Less	FINANCIAL EXPENSES (D)		1647.160	1408.920	490.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1291.350	[1500.610]	2879.040
Less/ Add	DEPRECIATION/ AMORTISATION (F)		176.010	228.970	108.620
	PROFIT BEFORE TAX (E-F) (G)		1115.340	[1729.580]	2770.420
Less	TAX (I)		377.210	[748.150]	909.490
	PROFIT AFTER TAX (G-I) (J)		738.130	[981.430]	1860.930
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		157.450	134.710	[503.800]
	Transfer from Debenture Redemption Reserve		208.330	1004.170	--
Less	APPROPRIATIONS
		Transfer to Debenture Redemption Reserve	738.130	0.000	1212.500
	`	Dividend on Preference shares	0.000	0.000	8.480
		Tax on Preference Dividend	0.000	0.000	1.440
	BALANCE CARRIED TO THE B/S		365.780	157.450	134.710
	Earnings Per Share (Rs.)
	Basic		0.81	[1.08]	2.14
	Diluted		0.81	[1.08]	2.07

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	6.90	[16.75]	17.32
Net Profit Margin (PBT/Sales)	(%)	10.75	[30.74]	26.98
Return on Total Assets (PBT/Total Assets}	(%)	0.93	[1.55]	2.69
Return on Investment (ROI) (PBT/Networth)		0.02	[0.04]	0.06
Debt Equity Ratio (Total Liability/Networth)		1.09	1.55	1.22
Current Ratio (Current Asset/Current Liability)		3.95	5.76	8.89

LOCAL AGENCY FURTHER INFORMATION

BUSINESS PERFORMANCE

During the year, the Company has shown significant improvement in the business performance and had successfully surmount out of the slowdown that it has witnessed in the past years due to global economic downturn. Since May 2009, the Indian real estate market has shown signs of recovery and the number of units sold by the Company has also increased substantially thereby resulting in substantial increase in turnover and profits.

During the year, the Company launched 12 residential projects and 1 commercial project with an aggregate saleable area of approximately 9.4 million square feet and booked about 3,900 units for sale in the aggregate across the current projects.

During the financial year ended March 31, 2010, the turnover of the Company stood at Rs. 10,693 million as against 5,859 millions in the previous year. The Company has made net profit of Rs 738 million against the loss of Rs. (982) million in the previous year. Further, on consolidated basis, the turnover of the Company stood as Rs. 19,510 million as against 9,611 million in the previous year, signifying a growth of 103%. On consolidated basis, the net profit of the Company stood at Rs. 511 million as against previous year loss of Rs. (925) million.

The Company has been able to achieve this growth in its financial performance due to continued construction progress on its projects and stringent cost control measures. The Management of the Company continue to adhere to the various initiatives mentioned in the previous Director Report such as (i) Creating value by developing high quality integrated master planned communities (ii) Keeping flexible approach to project development (iii) Strengthen the financial position and actively manage the capital resources (iv) Adoption of international benchmarking and follow best practices in project development and customer services. These initiatives have accelerate the growth of the Company and consequently the financial performance during the year.

BUSINESS PERFORMANCE AND OUTLOOK

The Company is a leading real estate construction and development company in India with pan-India presence. At present, the focus is on the development of residential projects in Delhi NCR, Mohali, Hyderabad, Chennai and

other key Indian cities. The key highlights of the various business segments of the Company for the period are given hereunder:

Residential - In residential business line, the main focus is on developing master planned communities in phases, wherein they design, build and sell a wide range of properties across different price points, including plots, villas, independent villa floors and apartments of varying sizes and specifications. One of the most prestigious projects that they are presently undertaking is the development of the 27.2 acre Commonwealth Games Village in Delhi. The successful launch of projects like Emerald Hills, Emerald Estate, Palm Studio, Enclave is a testimony to Company’s ability to develop and market its projects. They have already started handing over to customer’s part of the plotted development in Mohali and are also in the process of completing and handing over shortly the Palm Springs and Esplanade projects. As of March 31, 2010, they had 31 residential projects under development. They will continue to launch new residential projects of various product-mix keeping in view the demand in specific markets.

Commercial – In commercial business line, the focus is on developing built-to-suit and multi-tenanted developments targeted towards a range of customers, from individual users and small companies, to large corporate groups in various sectors. As of March 31, 2010, they had four commercial projects under development which include both stand alone commercial sites and properties forming part of the residential integrated master planned communities. During the year they also successfully launched the Emerald Plaza project in Gurgaon.

Hospitality – During the year they completed and launched, through one of the subsidiary, a five star hotel in Jaipur. The hotel is being operated by Fortune Park Hotels Limited, a subsidiary of ITC Limited.

Contingent Liabilities not provided for [as on 31.03.2010]

(i) Corporate guarantees given by the Company to banks for facilities availed by Subsidiary companies outstanding as at March 31, 2010 – Rs. 6,000.00 million (previous year – Rs. 6,774.34 million).

(ii) Corporate guarantees given by the Company to financial institutions for facilities availed by a promoter group company outstanding as at March 31, 2010– Rs. 707.70 million (previous year – Rs. 799.35 million).

(iii) Claims received from vendors / contractors, not accepted by the Company – Rs. 43.01 million (previous year – Rs. 67.40 million). The Company has been advised that these claims are not tenable.

(iv) Claim for expenses by a promoter group company, not accepted by the Company– Rs. 119.48 million (previous year – Rs. 134.62 million). The Company has been advised that these claims are not tenable.

(v) Guarantees given by the Company to third parties for project undertaken by a subsidiary company, outstanding as at March 31, 2010 – Rs. 27.85 million (previous year – Rs. 87.84 million)

(vi) Project advances outstanding in the names of contractors against discontinued construction contracts, pending final settlement – Rs. Nil (previous year – Rs. 108.79 million)

Note:- There are no contingent liabilities for the Joint Venture – Leighton Construction (India) Private Limited.

BANKERS CHARGES REPORT AS PER REGISTRY

This form is for	Creation of charge
Corporate identity number of the company	U45201DL2005PLC133161
Name of the company	EMAAR MGF LAND LIMITED
Address of the registered office or of the principal place of business in India of the company	ECE House, 28, Kasturba Gandhi Marg, New Delhi-110001, India
Type of charge	Book Debts
Particular of charge holder	State Bank of Patiala, Commercial Branch, Chandralok Building, 36, Janpath, New Delhi-110001, India
Email	sbpcbnd@yahoo.co.in
Nature of description of the instrument creating or modifying the charge	Agreement of hypothecation of goods and assets.
Date of instrument Creating the charge	04.11.2010
Amount secured by the charge	Rs.2500.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Rate of interest @ 5.25% above base rate i.e. 13.25% p.a. Terms of Repayment Payable on demand. Margin Cash credit - 25% Inland / import LC - 15% Bank guarantee - 10% Extent and Operation of the charge Pari passu charge to secure cash credit limit of Rs. 500.000 millions. Others The bank has sanctioned the following credit facilities :- Cash credit = Rs. 500.000 millions Bank guarantee = Rs. 2000.000 millions LC (sub limit in BG) = (Rs. 500.000 millions)
Short particulars of the property charged	Cash credit (Rs. 500.000 millions) - hypothecation by way of first pari passu charge over all present and future current assets of the company wherever located BG / LC (Rs. 2000.000 millions) - omnibus counter guarantee of the company.

FIXED ASSETS:

· Freehold Land

· Leasehold land

· Building

· Leasehold Improvement

· Plant and Machinery

· Office Equipments

· Computers

· Furniture and Fixtures

· Vehicles

· Computers Software

AS PER WEBSITE

Profile:

Subject is a joint venture between Emaar Properties PJSC ("Emaar") of Dubai and MGF Development Limited ("MGF") of India. Emaar is one of the world's leading real estate companies, having developed approximately 89 million square feet of real estate across residential, commercial and other business segments and with operations in 14 countries. MGF has established itself as one of the key players in retail real estate development in Northern India and has delivered approximately 2 million square feet of retail space.

The Company commenced operations in India in February 2005 and is into real estate development with a pan-India presence and operations spanning all key segments of the Indian real estate industry, namely the residential, commercial, retail and hospitality sectors. The Company's operations encompass various aspects of real estate development, such as land identification and acquisition, project planning, designing, marketing and execution. At present, its focus is on the development of residential projects in Delhi and elsewhere in the NCR, Mohali, Hyderabad, Chennai and other key Indian cities.

Emaar Properties PJSC

Emaar Properties PJSC ("Emaar") was incorporated on June 23, 1997 under the laws of the United Arab Emirates and commenced operations on July 29, 1997. The principal activity of Emaar is to invest and develop properties, provide property management services, engage in education, healthcare and hospitality services and invest in financial services providers.

Emaar, incorporated in 1997, is one of the world's leading real estate companies - having developed approximately 89 million square feet of real estate across residential, commercial and other business segments and with operations in 14 countries spanning the Middle East, North Africa, Asia and Europe. Emaar is developing several real estate projects in its primary market of Dubai. These include Emaar’s most ambitious project within the UAE, the Downtown Burj Dubai development. This is a 500 acre development and will feature developments such as the Burj Dubai - stated to be the world's tallest building, the Dubai Mall - stated to be one of the world’s largest entertainment and shopping malls and the Dubai Fountain, stated to be one of the world’s tallest performing fountains. In the Kingdom of Saudi Arabia, Emaar is developing the King Abdullah Economic City - a 168 million square meter development which is planned to be a mixed use project located on the coast of the Red Sea and will include a sea port, industrial zone, central business district, resort zone, educational zone and residential communities.

Some of Emaar’s other international projects include - Marassi, an up-market tourism resort and Uptown Cairo, a master-planned residential project, both in Egypt, Amelkis II and Amelkis III in Morocco, Samarah Dead Sea Resort in Jordan, Tuscan Valley Houses in Turkey and The Eighth Gate in Syria. In the hospitality and leisure sector, Emaar has launched a new hotel brand namely, The Address Hotels Resorts and as of August 31, 2009, had opened one hotel under this brand and two hotels are due for opening during September-October 2009. Additionally, Emaar owns and manages a diverse and award-winning portfolio of leisure assets, including golf resorts, a polo and equestrian club, health clubs, and the Dubai Marina and associated yacht club. Emaar has also entered into an exclusive agreement with Giorgio Armani S.p.A. to build and manage Armani hotels and resorts globally.

Emaar is an ISO 9001:2000 and an ISO 14001:2004 quality certified company. In addition, Emaar was awarded the prestigious Dubai Quality Award in 2006

MGF Developments Limited

MGF Developments Limited ("MGF") was incorporated on September 16, 1996 under the laws of India. The principal activity of MGF is leasing, hire purchase and real estate development.

MGF, incorporated in 1996, is engaged in the field of retail real estate development in Northern India. It is currently one of the leading shopping mall developers in Northern India, with approximately 2 million square feet of retail space delivered and approximately 3 million square feet of retail space and above 1 million square feet of residential space under development. Some of MGF's completed projects include The Metropolitan, The Plaza, Megacity Mall and The Villas in Gurgaon, the City Square Mall in West Delhi, MGF Metropolitan Mall in South Delhi and MGF Metropolitan Mall in Jaipur.

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.52.23
UK Pound	1	Rs.81.55
Euro	1	Rs.69.60

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	7
--CREDIT LINES	1~10	6
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		60

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
-	NB	New Business	-

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.