MIRA INFORM REPORT

Report Date :

30.12.2011

IDENTIFICATION DETAILS

Name :	ENERGY INFRATECH PRIVATE LIMITED (w.e.f. 30.05.2007)
Formerly Known As :	ERUDITE ENGINEERS PRIVATE LIMITED
Registered Office :	First Floor, NBCC Tower, Hall No.5, 15, Bhikaji Cama Place, Delhi – 110 066
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	03.03.2004
Com. Reg. No.:	55-148280
Capital Investment / Paid-up Capital :	Rs.13.872 millions
CIN No.: [Company Identification No.]	U40101DL2004PTC148280
TAN No.: [Tax Deduction & Collection Account No.]	DELE04409G
PAN No.: [Permanent Account No.]	AAICS4105R
Legal Form :	Private Limited Liability Company
Line of Business :	The Company is engaged in providing Engineering and Consultancy services and generation and sale of electricity through windmills.
No. of Employees :	450 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 1975000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a well established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct 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/ Corporate Office/ Carbon Assets Management Division :	First Floor, NBCC Tower, Hall No.5, 15, Bhikaji Cama Place, Delhi – 110 066, India
Tel. No.:	91-11-46598800/ 46529700
Fax No.:	91-11-46529744/ 45/ 46
E-Mail :	vvasu@energyinfratech.com info@energyinfratech.com info-cdm@energyinfratech.com
Website :	http://www.energyinfratech.com
Hydro Power Division :	145-146, Udyog Vihar, Phase - IV, Gurgaon – 122 015, Haryana, India
Tel. No.:	91-124-4356700
Fax No.:	91-124-4356757/ 47
E-Mail :	gurgaon@energyinfratech.com info-hydro@energyinfratech.com
Thermal Power Division:	7-1-24, B Block, 1^stFloor, Roxana Towers, Greenlands, Begumpet, Hyderabad - 500 016, Andhra Pradesh, India
Tel. No.:	91-40-66570665
Fax No.:	91-40-66570666
E-Mail :	hyderabad@energyinfratech.com info-thermal@energyinfratech.com

DIRECTORS

As on 27.07.2011

Name :

Mr. Ram Vinay Shahi

Designation :

Chairman cum Managing Director

Address :

C-1/ 17, Bapa Nagar, New Delhi - 110 066, India

Date of Birth/Age :

05.01.1945

Qualification :

BE-Mechanical, Post Graduation (Industrial Engineering), Post Graduation (Business Management) and Diploma in Advanced Industrial Management (Delft, Holland).

Experience :

42 Years

Date of Appointment :

01.04.2007

DIN No.:

01337591

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	U40101DL2004PTC148280	Energy Infratech Private Limited	Director	29-09-07	01-04-07	-	Active	NO
2	L27105HR1979PLC009913	Jindal Steel And Power Limited	Director	26-09-08	15-10-07	-	Active	NO
3	U04010CT1995PLC008985	Jindal Power Limited	Director	16-07-08	29-10-07	-	Active	NO
4	U40105AP2007PLC056799	Global Heavy Electricals Limited	Director	20-12-07	20-12-07	28-06-10	Active	NO
5	U29119DL1989PLC036554	Energo Engineering Projects Limited	Director	30-09-08	20-02-08	22-01-09	Active	NO
6	U72200DL2008PLC175177	Energo Infrastructure Development Corporation Limited	Director	11-03-08	11-03-08	-	Active	NO
7	U67190DL2008PTC172609	Evolution Markets India Private Limited	Additional director	23-09-09	23-09-09	30-03-10	Active	NO
8	U40300DL2011PTC223921	Rural Renewable Energy Private Limited	Director	19-08-11	19-08-11	-	Active	NO

Name :

Dr. Devi Singh

Designation :

Director

Address :

Indian Institute of Management, Prabandh Nagar, Off Sitapur Road, Lucknow – 226 103, Uttar Pradesh, India

Date of Birth/Age :

02.09.1952

Date of Appointment :

31.03.2008

DIN No.:

00015681

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	U27104HR1996PTC033093	Sunbeam Auto Private Limited	Director	16-03-01	16-03-01	21-05-10	Active	NO
2	U35201MH1990GOI223738	Konkan Railway Corporation Limited	Director	17-01-05	17-01-05	16-01-08	Active	NO
3	U74899DL1974GOI007227	Rites Limited	Director	01-11-06	01-11-06	31-10-09	Active	NO
4	L40101DL1969GOI005095	Rural Electrification Corporation Limited	Director	10-06-11	07-01-08	-	Active	NO
5	U40101DL2004PTC148280	Energy Infratech Private Limited	Director	29-09-08	31-03-08	-	Active	NO
6	L34101HR1985PLC020934	Munjal Showa Limited	Director	07-08-09	23-09-08	-	Active	NO
7	U80300DL2007NPL166745	National Institute of Food Technology Entrepreneurship and Management	Director	30-06-09	30-06-09	-	Active	NO
8	U66010MH2006PLC165288	Future Generali India Life Insurance Company Limited	Director	25-08-11	15-11-10	-	Active	NO
9	U66030MH2006PLC165287	Future Generali India Insurance Company Limited	Director	25-08-11	15-11-10	-	Active	NO
10	U74899AP1952GOI076711	Hindustan Shipyard Limited	Director	18-05-11	18-05-11	-	Active	NO

Name :

Mr. Arun Kumar Purwar

Designation :

Director

Address :

C - 2303/ 4 Floor, 23, Ashok Tower, 63/7-4, Dr. S.S. Rao Road, Parel, Mumbai – 400 012, Maharashtra, India

Date of Birth/Age :

14.05.1946

Date of Appointment :

01.09.2007

DIN No.:

00026383

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	U67190MH2005PTC154781	Indiareit Fund Advisors Private Limited	Director	03-08-06	03-08-06	04-04-08	Active	NO
2	L17111PB1973PLC003345	Vardhman Textiles Limited	Director	01-06-07	01-06-07	-	Active	NO
3	L45309MH2004PLC147531	Reliance Communications Limited	Director	30-09-08	17-07-07	-	Active	NO
4	U74101DL2000PLC105609	Caparo Engineering India Limited	Director	11-09-08	19-07-07	02-11-10	Active	NO
5	L27105HR1979PLC009913	Jindal Steel and Power Limited	Director appointed in casual vacancy	30-07-07	30-07-07	-	Active	NO
6	U45200AP2006PLC051999	Deccan Infrastructure and Land Holdings Limited	Director	24-09-07	04-08-07	30-08-10	Active	NO
7	U40101DL2004PTC148280	Energy Infratech Private Limited	Director	29-09-07	01-09-07	-	Active	NO
8	U74140MH2007PTC173971	IndiaVenture Advisors Private Limited	Director	16-10-07	16-10-07	-	Active	NO
9	L25111KL1972PLC002449	Apollo Tyres Limited	Director	18-07-08	26-10-07	-	Active	NO
10	L74899DL1965GOI004352	Engineers India Limited	Director	19-09-08	09-01-08	-	Active	NO
11	L74999MH1995PLC093797	India Infoline Limited	Director	07-07-08	10-03-08	-	Active	NO
12	U32202MH2007PLC176153	IL and FS Renewable Energy Limited	Director	19-06-08	11-03-08	-	Active	NO
13	U40101TR2004PLC007544	ONGC Tripura Power Company Limited	Nominee director	23-07-11	18-09-08	-	Active	NO
14	U85110TN1997PLC039491	Sri Kavery Medical Care (Trichy) Limited	Nominee director	12-02-09	12-02-09	-	Active	NO
15	U67120MH2004PLC147365	India Infoline Finance Limited	Director	30-07-10	17-07-09	-	Active	NO
16	U04010CT1995PLC008985	Jindal Power Limited	Director	18-06-10	18-12-09	-	Active	NO
17	L45201DL1996PLC080401	C and C Constructions Limited	Director	29-10-10	15-07-10	-	Active	NO
18	U67190MH2010FTC203412	Mizuho Securities India Private Limited	Director	30-03-11	03-08-10	-	Active	NO
19	U65990MH2011PTC217884	PHL Capital Private Limited	Additional director	07-07-11	07-07-11	-	Active	NO
20	U99999MH1974PTC129493	PHL Finance Private Limited	Additional director	27-07-11	27-07-11	-	Active	NO

Name :

Dr. Chunchu Raghuvera Prasad

Designation :

Nominee Director

Address :

A 297, 2^nd Floor , Sushant Lok Phase I, Gurgaon - 122 002, Haryana, India

Date of Birth/Age :

14.01.1941

Date of Appointment :

27.09.2010

DIN No.:

00481764

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	U40101AP1997PLC037013	Konaseema Gas Power Limited	Director	14-01-03	14-01-03	-	Active	NO
2	U40101HP2001PTC024679	Everest Power Private Limited	Managing director	23-02-10	01-06-03	-	Active	NO
3	U40103HP2000PTC024074	Patikari Power Private Limited	Nominee director	25-02-10	22-02-05	-	Active	NO
4	U15540AP1998PTC029827	Hillfort Palace Private Limited	Director	30-04-05	30-04-05	31-03-11	Active	NO
5	U65999AP2006PTC070766	Zeus Inframanagement Private Limited	Director	25-08-06	25-08-06	29-03-10	Active	NO
6	U40105AP2007PTC058753	East Coast Energy Private Limited	Director	26-06-08	18-04-07	-	Active	NO
7	U31200DL2005PLC133875	Teesta Urja Limited	Nominee director	04-09-08	21-03-08	-	Active	NO
8	U40109AP1995PLC020411	Srivathsa Power Projects Limited	Director	26-09-08	31-03-08	-	Active	NO
9	U40101DL2004PTC148280	Energy Infratech Private Limited	Nominee director	27-09-10	31-03-08	-	Active	NO

Name :

Mr. Rajasekhara Nalluri Babu

Designation :

Whole Time Director

Address :

Sec – A, Pocket A/1132, Vasant Kunj, New Delhi – 110 070, India

Date of Birth/Age :

12.09.1956

Date of Appointment :

15.01.2007

DIN No.:

01213115

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	U40101DL2004PTC148280	Energy Infratech Private Limited	Director	29-09-07	15-01-07	-	Active	NO
2	U40101HP2001PTC024547	Sainj Hydro Power Private Limited	Director	29-09-07	15-01-07	05-03-09	Active	NO
3	U45201DL2005PTC142310	Hightec Propcon Private Limited	Additional director	15-09-08	15-09-08	17-03-09	Active	NO

Name :

Mr. Ramakrishna Vusirikala Vevkata Rao

Designation :

Director

Address :

B-9C, 1^st Floor, MIG Flat SG – 8, Area, Mayapuri, New Delhi – 110 064, India

Date of Birth/Age :

06.06.1942

Date of Appointment :

01.09.2007

DIN No.:

01504116

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	U74899DL1993PLC056211	Swasti Power Limited	Whole-time director	05-07-09	01-07-04	-	Active	NO
2	U40101DL2004PTC148280	Energy Infratech Private Limited	Director	29-09-07	01-09-07	-	Active	NO
3	U65100DL2008PTC175845	Power Equity Capital Advisors Private Limited	Director	25-03-08	25-03-08	11-10-11	Active	NO

Name :

Mr. Deep Mishra

Designation :

Nominee Director

Address :

# 202, 2^nd Floor, Canterbury Castle, # 232, 3^rd Main, Defence Colony, Indira Nagar, Bangalore – 560 038, Karnataka, India

Date of Birth/Age :

21.02.1972

Date of Appointment :

27.09.2010

DIN No.:

02249582

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	U70101PN2008PTC131638	Marveledge Realtors Private Limited	Alternate director	26-09-08	27-06-08	27-09-08	Active	NO
2	U45200PN2007PTC130565	Marvel Landmarks Private Limited	Alternate director	26-09-08	27-06-08	27-09-08	Active	NO
3	U74899HR2000PLC043893	ELDECO Infrastructure and Properties Limited	Alternate director	23-09-08	23-09-08	26-09-08	Active	NO
4	U45200WB2007PTC112466	Devbhumi Realtors Private Limited	Nominee director	12-11-09	12-11-09	21-07-11	Active	NO
5	U45200MH2005PTC156839	Avruti Mall Management Company Private Limited	Director	31-08-10	12-11-09	31-01-11	Active	NO
6	U70100MH2005PTC155196	BLB Mall Management Company Private Limited	Director	30-09-10	13-11-09	21-07-11	Active	NO
7	U45209PN2005PTC021147	City Realty and Development Private Limited	Director	28-09-10	18-11-09	15-07-11	Active	NO
8	U34102PN2004PTC019806	Skyscapes Hotels Private Limited	Director	28-09-10	18-11-09	15-07-11	Active	NO
9	U70101KL1994PTC008019	Peevees Projects Private Limited	Director	25-09-10	28-11-09	21-07-11	Active	NO
10	U65990MH2008PLC181572	Future Capital Commodities Limited	Additional director	24-12-09	24-12-09	03-05-10	Active	NO
11	U55200MH2000PTC124192	Offbeat Developers Private Limited	Director	28-08-10	04-03-10	20-07-11	Active	NO
12	U40101DL2004PTC148280	Energy Infratech Private Limited	Nominee director	27-09-10	26-03-10	-	Active	NO
13	U85110MH2004PTC146014	Centre for Digestive and Kidney Diseases (India) Private Limited	Director	30-09-10	27-03-10	-	Active	NO
14	U51909GJ1942PLC000436	The Baroda Commercial Corporation Limited	Additional director	15-09-10	15-09-10	21-07-11	Active	NO
15	U51101DL1999PTC102039	Ozone Overseas Private Limited	Nominee director	14-11-11	14-11-11	-	Active	NO

KEY EXECUTIVES

Corporate Division :	Mr. V. Vasu Mr. Debadatta Samal
Hydro Division :	Mr. Rajendra Singh Mr. Manoj Kumar Gupta Mr. Yogendra Kumar Mr. R.S. Chauhan Mr. Pankaj Punetha Dr. K.K. Menon Mr. S.K. Bhowmick Mr. Javed Mohsin Mr. M.P. Chakraborty Mr. Rajeev Sethi Dr. Surendra Singh Garhia Mr. S. Krishnamurthy Mr. S.N. Bose Mr. Praveen Kumar Sanghi
Thermal Division :	Mr. K.P. Sudhakar Mr. P. Sambasiva Rao Mr. C. Syam Prasad Mukharji Mr. A.B. Roy Mr. P. Srinivasa Murthy Mr. P.D.P. Bhushan Mr. M.V. Ramesh Mr. R. Yallaji Reddy Mr. Phani Raj Kumar Mr. Padavala Suresh Mr. Mehidi Ali Zaidi
Retainers and Advisors :	Mr. Ranjodh Singh Dr. Venugopala Rao Mr. S.C. Sud Prof. Madhira R. Madhav

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 27.07.2011

Names of Shareholders	No. of Shares
Asian Infratech Pte. Limited, Singapore	693600
Beas Infrastructure Private Limited, India	693600
Total	1387200

As on 27.07.2011

Equity Share Breakup	Percentage of Holding
Category
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	50.00
Bodies corporate	50.00
Total	100.00

BUSINESS DETAILS

Line of Business :

The Company is engaged in providing Engineering and Consultancy services and generation and sale of electricity through windmills.

PRODUCTION STATUS (AS ON 31.03.2011)

Particulars	2010-11
Licensed Capacity	Not applicable
Installed Capacity (MW) *	10.50
Actual Generation (MUs)	19.828
Units sold (MUs)	19.071

* As certified by the management

GENERAL INFORMATION

No. of Employees :

450 (Approximately)

Bankers :

Punjab National Bank, ECE House, K.G. Marg, New Delhi – 110 001, India

Facilities :

Secured Loans	31.03.2011 Rs. In Millions	31.03.2010 Rs. In Millions
Term Loans
- From Banks (Secured by way of first charge on the immovable property under construction and included in Capital Work-in-Progress)	14.987	12.276
- From Others (Secured by way of exclusive First charge on the movable assets and on the receivables of power, wherever lying, pertaining to the 10.5 MW Capacity Wind Farm Project consisting of 7 Nos. 1500 KW WEG at Village Jangi, District Kutch, in the State of Gujarat (Project No. 1860) and elsewhere. Further, secured by the Bank Guarantee of Rs.26.000 millions and Corporate Guarantee of Beas Infrastructure Private Limited, shareholder of the Company, for sanctioned amount. The Company has also created First Charge on all the immovable properties, pertaining to 10.5 MW Capacity Wind Farm)	336.401	378.676
Working Capital Demand Loan [Secured against Fixed Deposit of Rs. Nil (2010 : Rs.35.000 millions)]	0.000	33.305
Vehicle Loans (Secured by hypothecation of Vehicles)	3.745	3.554
Total	355.133	427.811
Repayable within one year	44.020	77.591

Banking Relations :	--
Auditors :
Name :	Deloitte Haskins and Sells Chartered Accountants
Address :	1-8-384 and 385, 3^rd Floor, Gowra Grand, S.P. Road, Secunderabad – 500 003, Andhra Pradesh, India
Income-tax PAN of auditor or auditor's firm :	AACFD3771D
Ultimate Holding Company :	Asian Infrastructure Pte Limited – Singapore
Holding Company’s Holding Company :	Asian GencoPte Limited –Singapore
Holding Company :	Asian Infratech Pte. Limited, Singapore [Asian Infratech Pte Limited (AIPL) and Beas Infrastructure Private Limited (BIPL) each individually hold 50% of the Share Capital of the company. However in respect of the composition of the Board of Directors, AIPL as per Clause 2(a) of the Shareholders Agreement is entitledto nominate majority of the directors of the Company. Hence, AIPL has been considered as the Holding Company.]
Enterprise having Significant Influence :	Beas Infrastructure Private Limited
Subsidiaries :	Energy Infratech Inc., New York
Fellow Subsidiary Companies :	v Srivathsa Power Projects Limited v East Coast Energy Private Limited v Patikari Power Private Limited v Teesta Urja Limited v Global Fuels Pte Limited v Indus Clean Energy (India) Private Limited (from July 6, 2010) v Indus Hydro Power (India) Private Limited (from July 6, 2010) v Teestavalley Power Transmission Limited v Meghavaram Port Private Limited v PT Global Fuels , Indonesia v PT GaneshaRapindoImpex v Kakarapally Power Private Limited v Zeus Inframanagement Private Limited(till December 22, 2009) v Zeus Infraservices Private Limited (till December 22, 2009) v Everest Power Private Limited (till October 31, 2009)

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs.10/- each	Rs.20.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1387200	Equity Shares	Rs.10/- each	Rs.13.872 millions

[Out of the above 693,600 shares (i.e. 50%) are held by Asian Infratech Pte Limited -Singapore - Holding Company, Ultimate holding company being Asian Infrastructure Pte Limited, Singapore and the balance 693,600 shares (i.e. 50%) are held by Beas Infrastructure Private Limited, India].

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		13.872	13.872	13.872
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		479.855	431.609	369.062
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		493.727	445.481	382.934
LOAN FUNDS
1] Secured Loans		355.133	427.811	365.211
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		355.133	427.811	365.211
DEFERRED TAX LIABILITIES		16.910	0.000	0.000
TOTAL		865.770	873.292	748.145
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		598.228	630.885	669.765
Capital work-in-progress		36.815	30.180	9.730
INVESTMENT		3.339	4.680	4.680
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	283.822	348.956	205.144
	Cash & Bank Balances	67.517	82.498	50.984
	Other Current Assets	1.098	2.452	1.802
	Loans & Advances	143.280	139.621	165.937
Total Current Assets		495.717	573.527	423.867
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	99.139	103.938	135.043
	Other Current Liabilities	149.797	242.370	211.400
	Provisions	19.393	19.672	13.454
Total Current Liabilities		268.329	365.980	359.897
Net Current Assets		227.388	207.547	63.970
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		865.770	873.292	748.145

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Sale of Electrical Energy	64.224	75.566	79.270
		Engineering Services	605.596	531.274	523.711
		Other Income	11.571	22.297	7.215
		TOTAL (A)	681.391	629.137	610.196
Less	EXPENSES
		Generation, Operation & Maintenance Expenses	10.912	11.827	0.000
		Personnel Expenses	317.775	288.944	244.499
		Administrative and Other Expenses	193.858	168.951	228.138
		TOTAL (B)	522.545	469.722	472.637
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		158.846	159.415	137.559
Less	INTEREST & FINANCIAL EXPENSES (D)		47.542	52.276	55.622
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		111.304	107.139	81.937
Less/ Add	DEPRECIATION/ AMORTISATION (F)		46.617	44.591	34.203
	PROFIT BEFORE TAX (E-F) (G)		64.687	62.548	47.734
Less	TAX (H)		16.441	0.000	2.391
	PROFIT AFTER TAX (G-H) (I)		48.246	62.548	45.343
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		371.747	309.199	203.019
Less	APPROPRIATIONS
		Proposed Dividend	0.000	0.000	(52.000)
		Dividend Tax thereon	0.000	0.000	(8.837)
	BALANCE CARRIED TO THE B/S		419.993	371.747	309.199
	EARNINGS IN FOREIGN CURRENCY
		Professional and Consultancy Fee	--	--	4.944
		At Foreign Branch
		- Engineering Services	81.902	3.434	--
		- Interest on Fixed Deposits	0.364	0.044	--
		Other Income	0.000	0.059	--
	TOTAL EARNINGS		82.266	3.537	4.944
	Earnings Per Share (Rs.)		34.78	45.09	32.69

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	7.08	9.94	7.43
Net Profit Margin (PBT/Sales)	(%)	9.66	10.31	7.92
Return on Total Assets (PBT/Total Assets}	(%)	5.91	5.19	4.36
Return on Investment (ROI) (PBT/Networth)		0.13	0.14	0.12
Debt Equity Ratio (Total Liability/Networth)		1.26	1.78	1.89
Current Ratio (Current Asset/Current Liability)		1.85	1.57	1.18

LOCAL AGENCY FURTHER INFORMATION

Note:

The registered office of the company has been shifted from First Floor, NBCC Tower, 15, Bikaji Cama Place, Delhi – 110 066 to the present address w.e.f. 11.06.2009.

PERFORMANCE HIGHLIGHTS

Gross Income

The Gross Income of the company in the current financial year 2010-11 has been increased to Rs.681 Million as compared to Rs.629 Million in the previous financial year 2009-10.

There is a growth of 8.31% in the Gross Income of the Company in the current financial year as compared to the previous year.

Profit Before Tax

The Company has earned profit before tax of Rs.64 Million in the current financial year 2010-11 as compared to Rs.63 Million in the previous financial year 2009-10. There is a growth of 1.56% in the Profit Before Tax of the Company in the current financial year as compared to the previous year.

Profit After Tax

The Company has earned a profit after tax of Rs.47 Million in the current financial year 2010-11 as compared to Rs.63 Million in the previous year 2009-10.

There is a decrease of 25% in the Profit After Tax of the Company in the current financial year as compared to the previous year which is due to provision for Deferred Tax Liability to the tune of Rs.17 Million.

ACTIVITIES AT GLANCE

As Power Generator

The company emerged as a power generator in financial year 2007-08 by setting up 10.50 MW wind farm project comprising of 7 Suzlon make S-82 wind turbine generators of 1.5 MW each.

During the financial year 2010-11 the company has generated ~19.83Million units (net) at an average Plant Load Factor of 21.56% as compared to last year of generation of ~23.46 Million units with PLF of 25.50%.

As Consultant Engineers Energy Infratech is a consultant with a difference. It aspires to serve clients in the energy sector with complete solutions. The Company takes the total responsibility for project execution. Their endeavor is to ‘own’ the client's problems, and deliver solutions that pro vide lasting value. They deliver these solutions through a pool of engineers and consultants with the best possible expertise, built over years of experience in deploying 'best-in-class' engineering and project management tools and techniques.

Their team brings with it a rich blend of experience gained in leading organizations in India's power sector including NTPC, NHPC, CWC, CEA and L and T. They are also providing power plant Operation and Maintenance (O and M) services for which they have capable manpower strength. They are presently delivering services to a portfolio of thermal (both coal and gas) and hydro power plants. With offices in Delhi, Gurgaon, Himachal Pradesh, Sikkim, Arunachal Pradesh and Andhra Pradesh, they are fast developing a pan-India reach. The Company has also expanded its activities o verseas and currently executing projects abroad; one in Uganda and two in Bhutan.

PRESENT PROJECTS

Their portfolio of ongoing assignments consists of both 'concept to commissioning' solutions as well as specific modules for some of the projects. They have a presence in both hydro and thermal power plants.

The following is a list of their ongoing assignments:

HYDRO POWER PROJECTS:

Client: Teesta Urja Limited

Project: Teesta Stage III Hydro-Electric Project (1200 MW)

Located in North Sikkim District on the Teesta River, the project is under construction phase. The project is a peak load plant with 6 units of 200 MW each. It is one of the largest hydro electric projects in India, being developed in private sector. The project is scheduled for commissioning in the middle of 2012.

Subject is responsible for complete engineering activity including pre- construction investigations, obtaining all statutory clearances, preparation of Detailed Project Report (DPR), financial closure, detailed engineering, tender drawings and technical specifications, pro viding technical support during construction, project management and site supervision

All infrastructure works has been completed and constructions works are in full swing at every front. Excavation of entire HRT has been completed on 4^th June 2011, 3.25 m HRT concrete lining work has been completed out of total 13.81 m.

CFRD Rock fill placement is in progress and 893234 Cum rockfill placement has been done out of total 1270926Cum. Cut off wall construction is in progress and excavation and concreting in 9 panels out of 59 panels completed. In Power House complex 91% excavation of transformer cavern is completed. Balance excavation is targeted to be completed by August-2011. Civil works for GIS hall is going on and targeted to be completed by August’11. Completion of civil works for pot head yard is also targeted to be completed by August’11.

Client: Everest Power Private Limited

Project: Malana II Hydro-Electric Project (2 x 50 MW)

Located in Kullu District, in the State of Himachal Pradesh on the Malana Nallah (a tributary of the Beas river), the project is now in advanced stage of construction. Designed as a peak-load plant, the project will have 2 units of 50 MW each. Everest Power Private Limited is developing the project, and subject is providing complete engineering services as well as construction supervision at site. First Unit of the project is targeted to be commissioned by June 2011.

The Detailed Design and Construction Methodology including equipment planning of all the components have been completed by subject. Presently, All the Adits for construction of Head Race Tunnel, Surge shaft and Pressure Shaft have already been completed. Surge Shaft, concrete lining work has been completed on 1st July 2010. In HRT, all the works have been completed and after it’s cleaning, the initial filling of Water Conductor system has been started on 30th May 2011. On 31^st May 2011 in pressure shaft reducer ferrule between EL 2221.66 to EL 2224.06 has been damaged. Part of the ferrule above this reducer ferrule also has been damaged. Works for restoration of the damaged portion of the ferrules are in progress and are planned to be completed by 15^th June-2011. Filling of the WCS will be resumed on 16^th June and will be completed by 20^th June.

At dam site, all major works have been completed and remaining works are expected to be completed during June-2011. The concreting works in Block-5 is in progress. Curtain grouting works in Block-1, Block-2 and Block-3 are in progress.

Civil works have been completed in Machine Hall, Control Room and Transformer Hall. Architectural works are in progress and shall be completed by June 2011. All the 51 Towers have been erected. Stringing work also is completed. Connection with 220kv line of AD hydro has to be done.

Commissioning of Unit # 1 is targeted to be done on 28^th June 2011 and the 2nd Unit is targeted to be commissioned on 5^th July 2011.

Client: Athena Demwe Power Limited

Project: Demwe Hydro-Electric Project (3000 MW)

Demwe is located in the most downstream section of cascade development of Lohit river basin in the State of Arunachal Pradesh. The projects are being developed in two stages, 1750 MW Demwe Lower HEP being developed by Athena Demwe Power Limited and 1140 MW Demwe Upper HEP being developed by Lohit Urja Private Limited.

Subject is providing “concept to commissioning” composite services for project development, engineering and management for both the projects. Present status of the project is as follows:

Demwe Lower HEP (1750 MW):

The project has entered into pre-construction works and is expected to be commissioned by Third Quarter of 2016. The Company has carried out the site investigations work in record time and prepared and submitted the Detailed Project Report (DPR) for Demwe Lower HEP to Central Electricity Authority (CEA). DPR has been approved by CEA for and TEC is accorded on 20th November 2010. Environment Clearance achieved in February 2010 and subsequently all the formalities for forest clearance have been completed with MoEF. Formal letter on Forest clearance from MOE and F is awaited. Financial Closure for the project is expected to be achieved in the third quarter of 2011.

Demwe Upper HEP (1140 MW):

Upper Demwe project is located in District Anjaw near Mompani village of Arunachal Pradesh. The project is being developed by Lohit Urja Private Limited, a special purpose vehicle incorporated to develop the said project. Energy Infratech is pro viding “Concept to Commissioning” services for the project.

Survey and investigation for preparation of DPR is completed. DPR has been submitted to CEA in March’11 and the same has been accepted by CEA on 5th April, 2011 for detailed examination. Base line data collection for EIA/EMP studies is going on. EIA/EMP studies targeted to be completed by Aug-2011

Client: Patikari Power Private Limited

Project: Patikari Hydro-Electric Project (2 x 8 MW)

This Small Hydro Project (SHP) is located in Mandi District, Himachal Pradesh, on Bakhli Khad, a tributary of the Beas River. This is a run-of-the river project, which deploys 2 units of 8 MW each. The project got commissioned in January 2008. The company was the technical consultant for this project during construction.

Subsequent to commissioning of the project the company has been retained as operation and maintenance supervisory consultants for this project. During the Financial Year 2009-10, the Company has carried out trouble free O and M of the plant and the project has achieved the generation of 36.532 MUs.

Client: The Ministry of Energy and Mineral Development (MEMD) of Uganda

Project: Karuma Hydro Electric Project (600 MW)

The Ministry of Energy and Mineral Development (MEMD) of Uganda, together with the Uganda Electricity Generation Company Limited (UEGCL) jointly proposes the development of Karuma Hydro Power Project of a 600 MW Power Plant located on the River Nile about 80 km downstream of Masindi port on the exit of Lake Kyoga in central Uganda.

Energy Infratech has undertaken detailed investigation works by deploying various agencies. It has also carried the Environment and Social Impact Assessment (ESIA) for the project. Based on the investigations carried out, subject has submitted the Engineering Report for the phase-I and the same has been approved by Ministry of Energy and Mineral Department. Subject has also submitted the ESIA report which is by various authorities such as National environment Management authority, Uganda Wildlife Authority etc. The draft tender document on EPC basis and International Competitive Bidding have also been prepared and submitted to MEMD.

Scope of the Services:

Phase-I:

· Technical, Financial, Environmental Social Impact Assessment (ESIA) Studies, Project Design, Preparation of Bills of Quantities, Tendering and Procurement of a General Contractor. Phase-II:

· Construction supervision

· Testing and Commissioning

Client: Athena Kynshi Power Private Limited

Project: Kynshi Hydro Electric Project (450 MW)

Kynshi Hydro Electric Project is being developed on Kynshi River in West Khasi Hill district in the state of Meghalaya. Athena Kynshi Power Private Limited (AKPPL) is the project SPV formed for implementation of the project.

AKPPL engaged the services of subject for undertaking the work of detailed surveys, investigations, preparation of detailed project report (DPR), preparation of tender documents, detailed engineering services and preparation of construction drawings

Survey and investigation works including drilling and drifting are in progress. Out of 2 drifts one drift of 50m length is fully completed and 10 m of the 2nd drift out of 50 m is completed at Dam Site. Field work for Topographical survey at Dam, PH, SS and TRT outfall site completed. Topo MAP has been prepared. River X-sections at DAM and TRT outfall completed. Data collection for EIA/EMP has been started and Forest Season and Environment baseline data already been collected. Detailed Project Report is targeted to be completed by March 2012.

Client: Satluj Jal vidyut Nigam Limited

Project: Kholongchu Hydro Electric Project (600 MW)

SJVNL has awarded the consultancy services for preparation of DPR of 600 MW Kholongchu Hydro Electric Project in Bhutan to the company.

Survey and investigations works almost completed including 2230 m drilling and 753 m drifting work. Geophysical Surveys at site completed. All site investigations and demobilization from site - planned to be completed by 30^th Jun-2011. Draft DPR has been submitted to SJVNL and the same is. A presentation on submitted DPR to Department of Energy, Bhutan was made by SJVNL and subject on May 17, 2011 at Thimpu, Bhutan. The comments received from DOE Bhutan, CEA, CWC and GSI are being incorporated. Final DPR is proposed to be submitted by 30-June-2011.

Client: DANS Energy Private Limited

Project: Jorethang loop Hydro Electric Project (96 MW)

The Jorethang Loop Hydroelectric Power Project being developed by DANS Energy Private Limited, a Run-of-River hydro-electric project is the terminal project in the cascade development of five projects planned on the Rangit River in Sikkim.

Scope of Work:

Subject is providing Owners Engineer services for the project. As per of the consultancy services subject is providing assistance in commissioning services, review and verifications of the installations of E and M equipments and Transmission Line equipments. Detailed report on the Tests conducted for its adequacy and authenticity with respect to the Design Parameters of the individual equipment and system as a whole.

Progress:

Review of Construction Drawings is in progress, 260 Civil drawing, 311 H and M drawings and 790 E and M drawings have been reviewed till date.

Client: Power Finance Corporation

Project: 120 MW Ranjit Stage-IV HEP, Sikkim

Jal Power Corporation Limited is developing 120 MW Ranjit stage –IV Hydro Electric project in Sikkim. Power Finance Corporation has sanctioned Rupee Term Loan of Rs. 3876.5 Million to Jal Power Corporation Limited (JPCL) for setting up the subject project to be built at an estimated cost of Rs. 7753 Million with financial assistance of PFC and other Lenders. PFC as the Lead Financial Institution appointed subject as Lenders' Engineer (LE) for the subject project.

Progress:

Due Diligence of the project is completed. For the 2^nd Phase services four Progress reports already submitted to PFC.

Client: Power Finance Corporation

Project: 96 MW Rongni Chu HEP, Sikkim

Madhya Bharat Power Corporation Limited is developing 96 MW Rongni Chu Hydro Electric Project in Sikkim. Power Finance Corporation has sanctioned Rupee Term Loan to Madhya Bharat Power Corporation Limited for setting up the subject project.

PFC as the Lead Financial Institution appointed subject as Lenders' Engineer (LE) for the subject project.

Subject has completed the Phase-I services by completing Due Diligence of the project. First visit to project was made in 3rd week of May 2011 and the progress report has been submitted to PFC.

Client: CHHATTISGARH HYDRO POWER LLP

Project: 24 MW Gullu HEP, Chattishgarh

Chhattisgarh Hydro Power Private Limited (CHPPL), New Delhi is an Special Purpose Vehicle and subsidiary of Sarda Energy and Minerals Limited, incorporated for implementation of 3 x 8 MW Gullu Hydro Electric Project. Gullu Hydroelectric Project (GHEP) is a Run-of-River project on IB River, a tributary of River Mahanadi with a proposed installed capacity of 24 MW. The Project is located in village Gullu in District Jashpur, Chhattisgarh.

Subject has been awarded the consultancy services for Review of design and special studies, tender design, bid and award, detail design and engineering for the project.

Subject have reviewed the available design. Tender stage design work is expected to start by 15-June-11 and target date for submission of tender drawings and document is 29^th June-2011.

Client: Shiga Energy Private Limited

Project: 97 MW Tashiding Hydro Power Project, Sikkim

Shiga Energy Private Limited is a special purpose vehicle company incorporated for the purpose of developing 2X 48.5 MW Tashiding Hydro Electric Project, at West District of Sikkim on the Rathong Chu River, the main tributary of Rangit River.

Subject has been awarded the consultancy services for Design and Engineering for Civil works and review of HM and EM designs, preparation of tender document.

Subject has finalized the general lay out of the project. Design flood studies report has been completed and submitted to the client. New Survey data for Surge Shaft and Power House area has been received and finalization of the same is in progress.

Client: SEW Infrastructure Limited

Project: 120 MW Nafra Hydro Power Project, Arunachal Pradesh

SEW Infrastructure Limited is developing Nafra Hydro Electric Project in West Kameng Basin in Arunachal Pradesh. Nafra HEP is a Run -of -the River project which envisages a 40 m high rock fill dam with earthen core, side spillway with breast wall of 4 nos. radial gates, water conductor system with adits to desilting chamber, HRT and at surge shaft.

SEW Infrastructure Limited has appointed subject for Detailed Design and preparation of Construction Drawings and as-built drawings of all the project components and furnishing required technical services during construction period of 42 months for the said project.

Subject has completed review of the project report, plan optimization studies and finalization of project lay out.

Client: Druk Green Power Corporation Limited

Project: Tsibjalumchhu scheme for augmentation of hydropower generation from 1020 MW Tala.

Tsibjalumchhu stream flows through Toktogom village and joins Wangchhu through a series of beautiful cascades over the cliff. Druk Green Power Corporation Limited (DGPC), fully owned by the Royal Go vernment of Bhutan, planned to divert this stream to the THP reservoir without destroying the water falls that are visible from the Phuentsholing highway. DGPC conducted the feasibility study in-house in 2010 for diverting this stream to the Tala Hydro Project reservoir to augment generation of THP during the lean water season, the study has determined that the scheme is technoeconomically feasible.

The scope of work of their company in the said project is as follows.

a. The consultant shall carry out the detailed design and engineering, cost estimation, selection of construction method and assistance in preparation of tender documents and assist DGPC in tender evaluations.

b. The consultant shall fully involve designated DGPC engineers and officials in the execution of this contract, both in their and DGPC’s premises and site.

Subject has been awarded the consultancy services for Detailed Design and Engineering, Cost estimation, selection of construction method and preparation of assistance in preparation of tender documents for Tsibjalumchhu diversion scheme for augmentation of hydropower generation from 1020 MW Tala.

Client: Indus Hydro Power (India) Private Limited

Project: 4X90 MW Nalo Hydro Power Project.

Indus Hydro Power ( India) Private Limited is a special purpose vehicle Company incorporated for the purpose of developing 4X90 MW Nalo Hydro Power Project in the state of Arunachal Pradesh. Nalo H.E. Project, located on Subansiri river envisaged for the installation of four generating units of 90 MW each, operating under a rated net head of 221 m in Surface type power house.

Indus Hydro Power (India) Private Limited has awarded the consultancy services to Energy Infratech for Pre Financial Closure Engineering Services for the said project.

The scope of work of their company in the said project is as follows.

a. Preparation of Detailed Project Report, Preparation of specifications, assistance in award of topographical survey, drilling, construction material survey and any other necessary survey and investigations work required for preparation of DPR b. Technical support till financial closure of the project

subject has submitted the Inception Report. First site visit was planned from 12^th June 2011, to fix the dam axis.

THERMAL POWER PROJECTS:

Client: East Coast Energy Private Limited

Project: Bhavanapadu Thermal Power Project – Stage I (1320 MW)

The project is being developed at a Coastal location in the Srikakulum District of Andhra Pradesh, by East Coast Energy Private Limited in two stages. The Stage – I will be of 1320 MW size, with 2 nos. 660 MW coal fired units. Super/sub-critical cycle parameters will be adopted for the generation cycle, so that power output is more efficient and pricing is market competitive.

Subject is providing services to East Coast Energy Private Limited on a ‘concept to commissioning’ basis through an agreement for composite project development, engineering and management services. The agreement also pro vides for extending O and M services after commissioning, at the option of the owner/client company.

For the Phase –I: all the statutory Clarence obtained, BTG and BOP have been awarded; infrastructure and engineering activities have been started at site. Financial closure achieved for the whole project.

For Phase-II: Detailed Project is completed. Environment and Forest clearance are obtained, procurement of BTG and BOP are under process.

Client: Athena Chattisgarh Power Private Limited

Project: Singhitarai Thermal Power Project (1200MW)

This is a pit-head location project being developed by Athena Chhattisgarh Power Private Limited in Raigarh District, in the state of Chhattisgarh. The capacity of the project shall be 1200 MW.

Subject is providing services to Athena Chhattisgarh Power on a “concept to commissioning” basis under an agreement for composite project development, engineering and management services.

Due to land issues, the project location has been shifted to Singhitarai, a nearby location from the earlier site of Dumrapali. The project is proposed to be developed as 2 units of 600 MW and for which main plant award has been finalized already. The coal is available for one unit through a dedicated mine allotted for the project and for the 2nd unit coal linkage has been obtained from Coal India Limited. The Company has been able to tie-up coal linkage for other unit during the year.

The EIA/EMP study has been completed and the environmental clearance obtained on 17th July 2009. Further the land acquisition is in full swing and 150.7 acres of project land has already been acquired for the Owner Company. Airport Authority Clearance obtained and Defence Clearance are obtained.

Power Purchase Agreement for long term Power supply has been signed with PTC on 6^th May 2009 by the Owner Company. DPR is prepared and submitted to the client. BTG and BOP contract have been awarded. Site infrastructure works including offices, guest houses are under constructions. The Financial Closure has been achieved for the project during the year. In all the activities the company is facilitating the Owner Company in completing the task.

Client: JK Cements Limited

Scope: Preparation of DPR for 2X660 MW TPP

JK Organization seeking to develop Thermal Power Project in India. JK Cements Limited had appointed Energy Infratech to select most feasible site for coal based Thermal Power Project. Subject had carried out site investigations works and identified most feasible site at Khandama in Madhya Pradesh.

Further, subject has been awarded the consultancy services for preparation of Detailed Project Report for the 2X660 MW Project at Khandawa.

SHARE CAPITAL AND SHARE HOLDING

Since there is no increase in the paid up share capital of the Company therefore it is placed at Rs. 1,38,72,000 which is similar to the paid up share capital for the financial year 2009-10. Further the entire paid capital of the Company is held in the ratio of 50% each by Beas Infrastructure Private Limited and Asian Infratech Pte. Limited

SUBSIDIARY COMPANY

The Company incorporated a wholly owned subsidiary in 2008 in United States of America with a name called Energy Infratech Inc. This subsidiary company has been formed with the objective of pursuing foreign consultancy assignments especially in America and Africa.

CONTINGENT LIABILITIES: (As on 31.03.2011)

a) Claims against the company not acknowledged as debts towards income tax disputed by the Company relating to classification of the depreciation for windmill Rs.0.775 million.

b) Bank guarantees outstanding as at March 31, 2011 amount to Rs.53.156 millions.

FORM 8:

Corporate identity number of the company	U40101DL2004PTC148280
Name of the company	ENERGY INFRATECH PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	First Floor, NBCC Tower, Hall No.5, 15, Bhikaji Cama Place, Delhi – 110 066, India E-Mail: shankerbhatia@energyinfratech.com
This form is for	Modification of charge
Charge identification number of the modified	10175443
Type of charge	Immovable Property Movable Property
Particular of charge holder	Punjab National Bank, ECE House, K.G. Marg, New Delhi – 110 001, India E-Mail: goyalvinodkumar@gmail.com
Nature of description of the instrument creating or modifying the charge	Letter from IREDA in respect of second charge on block assets
Date of instrument Creating the charge	07.05.2010
Amount secured by the charge	Rs.150.000 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Terms of Repayment: On demand Margin: 25% Extent and Operation of the charge: Full Charge 100%
Short particulars of the property charged	Second charge on block assets, first exclusive charge with IREDA
Particulars of the present modification	Limit of Rs.150.000 millions is secured by second charge on block assets being first exclusive charge with IREDA.

FIXED ASSETS

v Leasehold Land

v Leasehold Improvement

v Plant and Machinery

v Office Equipments

v Computers

v Furniture and Fixtures

v Vehicles

WEBSITE DETAILS:

PROFILE:

Energy Infratech is a consultant with a difference. It aspires to serve clients in the energy sector with complete solutions. They take the total responsibility for project execution. At the client's option, they also provide Operation and Maintenance (O and M) services.

At Energy Infratech, They understand the complex challenge that infrastructure project developers face. They are equipped to take on the vast canvas of project development- where man, material and money converge to provide the finished landscape.

They understand the nature and importance of the 'man', or human element which forms the 'soft' component of project management, and have developed solutions to meet the needs of developers. They surpass the conventional 'concept to commissioning' models and go beyond typical engineering consultancy, in at least two critical ways.

First, They come in much before others do– at the stage of search– for evolving and identifying opportunity, and its evaluation.

Second, they take care of the client’s worries completely by deploying a fully equipped construction management team at site. This obviates the need for the client to create a large project management team at site.

Their endeavor is to ‘own’ the client's problems, and deliver solutions that provide lasting value. They deliver these solutions through a pool of over 353 engineers and consultants with the best possible expertise, built over years of experience in deploying 'best-in-class' engineering and project management tools and techniques. Their team brings with it a rich blend of experience gained in leading organizations in India's power sector including NTPC, NHPC, CWC and L and T. They plan to scale up the team size to over 500 in the next one year.

They are presently delivering services to a portfolio of thermal (both coal and gas) and hydro power plants, being developed for an aggregate capacity of nearly 7,440 MW. They aspire to expand this portfolio by another 4,000 MW by the end of the year 2008.

With offices in Delhi, Gurgaon, Himachal Pradesh, Sikkim, Andhra Pradesh and Chhattisgarh. They are fast developing a pan-India reach.

As a part of the services offered to their esteemed clients, they select reputed organizations to participate in the projects as EPC Contractors, or agencies to execute major supply-cum-erection packages. Competitive bids are invited through tender notices. These also appear in the related sections of their website from time to time.

BOARD OF DIRECTORS:

Mr. R. V. Shahi – Chairman

Mr. Shahi held the position of Secretary to the Government of India, Ministry of Power for nearly five years from April 2002 to January 2007. In this position, he was responsible for policy initiatives and implementation for the entire Power Sector (1,68,000 MW capacity) in India. During his tenure, the Indian Power Sector went through a major restructuring with the institution of the Electricity Act, 2003 and subsequent National Electricity Policy, 2005 and National Tariff Policy, 2006. Other major initiatives launched include the Accelerated Power Development and Reform Programme (2002), Rural Electrification Policy (2005), Ultra Mega Power Policy (2006) and Merchant Power Policy (2006).

Mr. Shahi was also directly responsible for the long-term planning and operational performance of the Central Public Sector Undertakings viz. National Thermal Power Corporation (NTPC), Power Grid Corporation of India Limited, National Hydroelectric Power Corporation, Satluj Jal Vidyut Nigam Limited, Tehri Hydro Development Corporation, Power Finance Corporation, Rural Electrification Corporation, Bhakra Beas Management Board and Damodar Valley Corporation. He was also President of the Governing Council of Central Power Research Institute, Chairman of the Executive Committee of Bureau of Energy Efficiency and Chairman of the Governing Council of National Power Training Institute having 5 large Training Institutes in various parts of the country.

Mr. Shahi's academic qualifications include Graduation (Mechanical Engineering), Post Graduation (Industrial Engineering), Post Graduation (Business Management) and Diploma in Advanced Industrial Management (Delft, Holland). He is a Fellow of the World Academy of Productivity Sciences. He is a Fellow of Institution of Engineers (India), a Fellow of International Institute of Electrical Engineers, and a Fellow of the Indian National Academy of Engineering.

Prior to his appointment as Secretary, Mr. Shahi was Chairman and Managing Director of BSES Limited from 1994 to 2002. Earlier, for over 16 years, he was with National Thermal Power Corporation (NTPC) holding various positions between 1978 and 1994. These included General Manager in charge of Dadri Power Project; Executive Director in charge of Southern Region of NTPC, and finally Member on the Board of Directors of NTPC in-charge of Operations, R and D and Commercial functions. Prior to this, Mr. Shahi worked for over 10 years with Hindustan Steel Limited / Steel Authority of India.

He was Chairman or Member on Boards of various companies, as also in the Audit Committees of the Boards, during different periods (1991 - 2002), including member on the Board and Audit Committee of Power Grid Corporation of India. He was Chairman of World Energy Council- Indian Member Committee (WEC-IMC) during April, 2002 to January, 2007. Member (2003 - 2006) on the Policy Group of Carbon Sequestration Leadership Forum (CSLF), a US led global initiative; Member (2005 - 2006) on the Govt. Steering Committee for the US led global initiative on Zero Emission Future Generation Project. He has been closely associated with industry bodies such as Confederation of Indian Industries (CII), Federation of Indian Chamber of Commerce and Industries (FICCI), Associated Chamber of Commerce and Industry of India (ASSOCHAM) as Member or Chairman of various Committees. He was also a member on more than sixteen Committees and Organizations covering diverse topics related to Energy, Environment, Human Resource Development and Education. In 2006, he was made Chairman of the Government of India's Working Group on Power for Eleventh Five Year Plan (2007-12). He is on the Boards of Governors of Indian Institute of Management (IIM) Lucknow, Management Development Institute(MDI) Gurgaon, and Xavier Institute of Management, Bhubaneshwar.

Dr. Devi Singh – Director

Dr. Devi Singh assumed charge as Director, Indian Institute of Management, Lucknow in August, 2003. Before joining IIM, Lucknow, he was Director of Management Development Institute (MDI), Gurgaon for about four years. He is a well-known Professor in the area of International Finance and Management. During his tenure, MDI was one of the fastest growing Business Schools in India and had been consistently ranked among the top 5 B-Schools in the country.

Before joining MDI, Dr. Singh was a Visiting Full Professor at the Faculty of Management, McGill University, Canada for five years. He had been a UNDP Fellow on International Management Education. He had been a Visiting Faculty to the International Centre for Public Enterprises, Slovenia. He is an alumnus Fellow of the Institute of World Affairs, Connecticut. He has taught at leading Business Schools in India and Abroad. 

Dr. Singh has published several articles and presented papers at various national/international seminars. He is author of Three books in Finance and Management. Has been Consultant to leading Public and Private Sector and multinational organizations in India. He has been on several Committees of Government of India, All India Council for Technical Educational, PHD Chamber of Commerce and Industry (PHDCCI) Standing Committee on Public Enterprises (SCOPE) and All India Management Association (AIMA). He has been a member of Board/Academic Council of Indian Institute of Management Calicut, Narse Monjee Institute of Management Studies, Mumbai, Indian Institute of Mass Communication, New Delhi and Jamia Hamdard University. He is also on the Board of Governors of a few leading Indian companies.  

Dr. Singh holds a Ph.D. in International Finance from Indian Institute of Management, Ahmedabad.  

Mr. A.K. Purwar – Director

Mr. A.K. Purwar is having about 40 years of experience in Banking Industry. He has done Masters Degree in Commerce from Allahabad University in 1966 and a Diploma in Business Administration in 1967. During his career, Purwar held several important positions covering the whole gamut of commercial banking operations. Mr. Purwar has served State Bank of India as chairman for over three years, the longest term for any head, as compared to the terms of most chiefs since the mid-90s that ranged from two months to two-and-a-half years.

As Chief Executive Officer of the Tokyo Branch of State Bank of India from September 1995 to June 1998, he had arranged syndication of foreign currency loans and structured large profitable deals with KEXIM of South Korea.

Mr. Purwar was appointed, as the Managing Director of State Bank of Patiala in December, 2000 and was responsible for the integration of its treasury operations, computerization of all branches and for product innovation.

 Mr. Purwar took charge at the helm of SBI in November 2002. Under his leadership, the Bank had taken giant strides in technological innovations. All the 13800+ branches of the group were fully computerized by 2004.

Mr. V.V. Ramakrishna Rao – Director

Mr. V.V. Ramakrishna Rao is former Chairman and Managing Director, Central Electricity Authority and Ex-Officio Secretary to Government of India with over 42 years of experience in Indian Power Sector.

He is having exposure to various filed of activities including Technical, Operational, Economic, Legal, Administrative and Human Resources Development. He is having experience in Planning for Power Development, Integrated operation of power systems, Assessment and Monitoring of Power Supply Position in the country, Assessment of Hydro Resources, Coordinated Planning of hydro power schemes in the context of overall river basin development and computing demand on water resources (and irrigation, flood control and navigation) as well as overall generation development scenario, Overall Management, Secure Operation and Control of Five Regional Grids in the Country through Regional Electricity Boards and Regional Load Dispatch Centers, Promoting Integrated Operation, Intra- Regional exchange of Power and Inter- Regional exchange of Power, Planning and development of Transmission and Distribution facilities in the country, Construction, Monitoring, Design and Engineering of Transmission Systems consistent with National Power Plans.

Mr. N. Rajashekara Babu – Director

One of the select band of persons to have more than two and a half decades of exposure and in-depth experience in the fields of Project Management, Field Operations, Business development and manpower planning. He has proved his expertise in the field of chemical engineering by associating himself successfully with RCF limited for more than two and a half decades. 

He worked in Corporate Technical Department of RCF limited, Mumbai, where he was elevated from Management Trainee to Chief Engineer level during a span of 26 years. In RCF, he was instrumental in developing new projects, carrying out complex market survey for new products, carrying out feasibility studies for projects including financial analysis, preparation of all contractual documents and was closely associated with the Clean Development Mechanism process for the Chemical Plants in RCF Limited.

In his brief stint of three years with Saudi Formaldehyde Chemical Co. from 1991 to 1993, as Process Engineer, his duties comprised of operational responsibility of the plant including process control, process monitoring and operational planning. He was also associated with Formaldehyde Expansion Project for doubling the capacity of Plant.

Dr. C R Prasad – Director

He is the recipient of many awards, like the SCOPE award for “Excellence and Outstanding Contribution to the Public Sector Management – Individual Category for the year 1998-99”, NAFEN Annual Excellence Corporate Award for “Best Energy Man of the Year – 1999” and “Best Manager of the Year” Award in 1987 for outstanding achievements in Project Management.

He has successfully commissioned world’s longest 1250 km Jam Nagar-Loni LPG pipeline. He is the Author of a large number of papers contributed to various forums and journals on Project Management, Human Resource Management and Corporate Governance. He had participated in various International Forums/Conferences on oil and gas at Houston, London, Paris, Perth, Nice and Copenhagen.

He has the membership of many professional Bodies like Academic Council of Indira Gandhi National Open University, Sectional Committee – IV of Indian National Academy of Engineering, Petrotech Society, Industry Executive Forum of Indian National Academy of Engineering, All India Management Association, Indian Technical Committee on Germanischer Lloyd, Indian Institute of Gas Engineers, Energy Committee (ASSOCHAM), Advisory Board (Indian School of Petroleum). He is the Fellow of Institution of Engineers and Institute of Mechanical Engineers.

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Dr. C.R. Prasad has 45 years of experience in Oil and Natural Gas and Energy Sectors since 1964. He was the Chairman and Managing Director of Gas Authority of India Limited from 1996 upto 2001. He has also worked as Chairman for British Gas India, Mahanagar Gas Limited, Indraprastha Gas Limited and as Regional Director for Oil Natural Gas Commission, Mumbai. 

Mr. Deep Mishra – Director

Mr. Deep Mishra works across the investing platforms of Private equity, real estate and logistics. He has previously worked with the hedge fund Och Ziff Capital management for 3 years, where he was involved in public investments and led private investments across sectors such as financial services, real estate, infrastructure and technology in India. Prior to that, he spent 3 years with Ernst and Young as a Vice President with the Investment Banking team. He was also one of the founder Directors of a financial software products Company from 1999-2002 and before that worked for 2 years each as a financial analyst with TCG and a credit analyst with UTI. Mr. Deep Mishra holds a B. Tech in Mechanical Engineering from IIT Kanpur (1993) and a post Graduate Diploma in Management from IIM Calcutta (1996)

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.53.35
UK Pound	1	Rs.82.50
Euro	1	Rs.68.99

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		48

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.