MIRA INFORM REPORT

Report Date :

12.11.2011

IDENTIFICATION DETAILS

Name :	MUMBAI METRO ONE PRIVATE LIMITED
Registered Office :	2^nd Floor, Satellite Silver, Andheri Kurla Road, Marol, Andheri (East), Mumbai – 400 059, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	22.12.2006
Com. Reg. No.:	11-166433
Capital Investment/ Paid-up Capital:	Rs.2500.100 millions
CIN No.: [Company Identification No.]	U45201MH2006PTC166433
TAN No.: [Tax Deduction & Collection Account No.]	MUMM30883G
Legal Form :	Private Limited Liability Company
Line of Business :	Operating of Metro Rails in Mumbai City.
No. of Employees:	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (52)

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

Maximum Credit Limit :	USD 19000000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a joint venture between Reliance Infrastructure Limited, India, Veolia Transport SA. France (Veolia Region) and Mumbai Metropolitan Region Development Authority (MMRDA) for construction of Metro Rail in Mumbai City. The project is still under its implementation stage. Trade relations are fair. Business is active. Payments are reported to be regular and as per commitments. In view of strong promoters, the company can be considered normal for 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 :	2^nd Floor, Satellite Silver Building, Andheri Kurla Road, Marol, Andheri (East), Mumbai – 400 059, Maharashtra, India.
Tel. No.:	91-22-30091410 / 30091300
Fax No.:	91-22-30091368
E-Mail :	contact@mumbaimetro1.com priti.padte@relianceada.com abhijit.banerjee@relianceada.com shirish.limaye@relianceada.com sailesh.daga@relianceada.com jayarama.chalasani@relianceada.com
Website :	www.mumbaimetro1.com
Public Information Centre :	Reliance Energy Customer Care Centre, Saki Naka, Andheri (East), Mumbai 400 059, Maharashtra, India.
Tel. No.:	91-22-3009 4777
E-Mail :	contact@mumbaimetro1.com

DIRECTORS

(AS ON 30.09.2011)

Name :

Mr. Krishna Prakash Manoharlal Maheshwari

Designation :

Director

Address :

Flat No. 1704, Building 4B, Whispering Palm, Lokhandwala Complex, Akruti Road, Kandivali (East), Mumbai – 400101, Maharashtra, India

Date of Birth/Age :

24.06.1971

Date of Appointment :

22.12.2006

DIN No :

00309055

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	U45201MH2006PTC162857	One Metro India Private Limited	Director	26/06/2006	26/06/2006	28/03/2008	Active	YES
2	U45201MH2006PTC166433	Mumbai Metro One Private Limited.	Nominee director	22/12/2006	22/12/2006	-	Active	NO
3	U74210DL2008PTC176177	Delhi Airport Metro Express Private Limited	Director	1/4/2008	1/4/2008	-	Active	NO
4	U60222MH2009PTC196739	Mumbai Metro Transport Private Limited	Director	29/10/2009	29/10/2009	-	Active	NO

Name :

Mr. Radhakrishna Paparaju Ramanarao Paparaju Murthy

Designation :

Director

Address :

A-501, Amar Co-operative Housing Society, Off 90 Feet Road, Thakur Complex, Kandivali East, Mumbai – 400101, Maharashtra, India

Date of Birth/Age :

01.07.1960

Date of Appointment :

08.11.2007

DIN No :

00388370

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	U45203MH1999GOI120765	Mumbai Railyway Vikas Corporation Limited	Whole-time director	31/01/2005	31/01/2005	-	Active	NO
2	U45201MH2006PTC166433	Mumbai Metro One Private Limited.	Nominee director	8/11/2007	8/11/2007	-	Active	NO
3	U60100MH2008SGC181770	Mumbai Metro Rail Corporation Limited	Director	23/10/2009	23/10/2009	-	Active	NO

Name :

Mr. Kamal Kishore Parshuram Seth

Designation :

Director

Address :

Rukmani Villa, 4^th Floor, 7^th Road, Golibar Road, Santacruz East, Mumbai – 400055, Maharashtra, India

Date of Birth/Age :

12.05.1945

Date of Appointment :

17.11.2007

DIN No :

00194986

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	U23209GJ1991PTC014865	Reliance Petroproducts Private Limited	Director	13/02/1993	13/02/1993	31/03/2007	Active	NO
2	U99999MH1990GAT056560	Indo-Vietnamese Chamber Of Commerce And Industry	Director	27/11/2006	27/11/2006	-	Active	NO
3	U45201MH2006PTC166433	Mumbai Metro One Private Limited.	Nominee director	17/11/2007	17/11/2007	-	Active	NO
4	U64203AP2008PTC059255	Cbd Tower Private Limited	Director	19/11/2009	21/05/2008	-	Active	NO
5	U60222MH2009PTC196739	Mumbai Metro Transport Private Limited	Director	29/10/2009	29/10/2009	-	Active	NO
6	U70200MH2010PTC204676	Aaa Industrial Services Private Limited	Director	28/09/2011	11/6/2011	-	Active	NO
7	U70102MH2007PTC171094	Kunjbihari Developers Private Limited	Director	30/09/2011	1/7/2011	-	Active	NO

Name :

Mr. Raghavendra Raj Dalpatraj Mehta

Designation :

Director

Address :

Flat –A 1801, Shilp, P. B. Road, Lower Parel, Mumbai – 400013, Maharashtra, India

Date of Birth/Age :

06.05.1951

Date of Appointment :

17.11.2007

DIN No :

01947378

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	U45201MH2006PTC166433	Mumbai Metro One Private Limited.	Nominee director	17/11/2007	17/11/2007	-	Active	NO
2	U60222MH2009PTC196739	Mumbai Metro Transport Private Limited	Director	29/10/2009	29/10/2009	-	Active	NO

Name :

Mr. Ramesh Ganpati Shenoy

Designation :

Director

Address :

E-115, Bussa Apartment, B. M. Bhargava Marg, Santacruz East, Mumbai – 400054, Maharashtra, India

Date of Birth/Age :

07.10.1949

Date of Appointment :

17.11.2007

DIN No :

00007241

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	U45309MH2004PTC147532	Reliance Airport Developers Private Limited	Director	15/07/2004	15/07/2004	28/07/2011	Active	NO
2	U45203MH2005PTC153009	Reliance Public Utility Private Limited	Director	4/5/2005	4/5/2005	-	Amalgamated	NO
3	U65990MH2005PLC154052	Reliance Securities Limited	Director	17/06/2005	17/06/2005	24/06/2011	Active	NO
4	U67190MH2005PLC154361	Maharashtra Energy Generation Limited	Director	29/06/2005	29/06/2005	25/05/2011	Active	NO
5	U67190MH2005PTC154362	Deer Corporate Services Private Limited	Director	29/06/2005	29/06/2005	-	Active	NO
6	U67190MH2005PLC154359	Nk Toll Road Limited	Director	29/06/2005	29/06/2005	30/08/2011	Active	NO
7	U23300MH2005PLC154360	Ds Toll Road Limited	Director	29/06/2005	29/06/2005	30/08/2011	Active	NO
8	U45400MH2000PLC128387	Netizen Rajasthan Limited	Director	23/07/2005	23/07/2005	20/03/2007	Active	NO
9	U64200MH1994PLC218016	Reliance Telephones Limited	Director	23/07/2005	23/07/2005	20/03/2007	Active	NO
10	U72900MH2000PLC128386	Reliance Global Idc Limited	Director	23/07/2005	23/07/2005	20/03/2007	Amalgamated	NO
11	U64200MH2000PLC127478	Reliance Gateway Net Limited	Director	23/07/2005	23/07/2005	20/03/2007	Amalgamated	NO
12	U30007MH1999PTC121498	Infomagic Services Private Limited	Director	10/8/2005	10/8/2005	15/09/2007	Active	NO
13	U72200MH2000PTC219260	Haryana Cybernet Private Limited	Director	10/8/2005	10/8/2005	1/9/2007	Active	NO
14	U64203MH1999PTC121329	Giga Solutions Private Limited	Director	10/8/2005	10/8/2005	15/09/2007	Active	NO
15	U64201MH2001PTC131628	Reliance Communications Delhi Private Limited	Director	10/8/2005	10/8/2005	30/08/2007	Strike off	NO
16	U72200GJ2002PTC041036	Sify Infocomm Private Limited	Director	10/8/2005	10/8/2005	-	Strike off	NO
17	U64203RJ2000PTC016163	Rajasthan Network Private Limited	Director	10/8/2005	10/8/2005	-	Amalgamated	NO
18	U40101MH2000PTC217842	Reliance Bhavnagar Power Private Limited	Director	10/8/2005	10/8/2005	-	Active	NO
19	U64200MH2000PTC126074	Global Innovative Solutions Private Limited	Director	10/8/2005	10/8/2005	1/9/2007	Amalgamated	NO
20	U64200MH2000PTC124434	Reliance Infocomm Security Services Private Limited	Director	10/8/2005	10/8/2005	1/9/2007	Active	NO
21	U72900MH2000PTC128384	Reliance Mass Media Private Limited	Director	10/8/2005	10/8/2005	19/02/2007	Active	NO
22	U74140MH2000PTC128417	G2 India Distribution Private Limited	Director	10/8/2005	10/8/2005	19/02/2007	Active	NO
23	U99999MH2000PTC128397	Reliance Entertainment Ventures Private Limited	Director	10/8/2005	10/8/2005	19/02/2007	Amalgamated	NO
24	U85110KA1999PTC025552	Fabmart Private Limited	Director	16/08/2005	16/08/2005	1/9/2007	Strike off	NO
25	U45200MH2003PLC140946	Sonata Investments Limited	Director	21/09/2005	21/09/2005	-	Active	NO
26	U74140MH2005PTC156652	Swan Connect Communications Private Limited	Director	10/10/2005	10/10/2005	17/09/2008	Active	NO
27	U27310GJ1993PTC019541	Multimedia Distributors Private Limited	Director	19/10/2005	19/10/2005	12/10/2007	Strike off	NO
28	U51900MH2000PTC128863	Reliance Distribution Private Limited	Director	15/11/2005	15/11/2005	1/9/2007	Strike off	NO
29	U17120MH1989PTC053478	Ashita Texturising Private Limited	Director	15/11/2005	15/11/2005	-	Active	YES
30	U55101MH2001PLC218815	Campion Properties Limited	Director	27/11/2005	27/11/2005	20/03/2007	Active	NO
31	U51900MH1999PLC121491	Reliance Info investments Limited	Director	9/12/2005	9/12/2005	-	Amalgamated	NO
32	U51109MH2005PLC158369	Reliance One world Limited	Director	27/12/2005	27/12/2005	24/12/2009	Active	NO
33	U40100GJ1994PLC021991	Western Alliance Power Limited	Director	7/2/2006	7/2/2006	1/12/2009	Amalgamated	NO
34	U74999MH2005GAT155907	Reliance Ada Group Private Limited Cn	Director	28/04/2006	28/04/2006	-	Active	NO
35	U40104MH2006PTC163256	Thane Belapur Industries Power Private Limited	Director	22/07/2006	22/07/2006	-	Active	NO
36	U93090MH2006PTC165027	Falgun Consultants Private Limited	Director	30/09/2006	30/09/2006	16/09/2008	Active	NO
37	U93090KA2006PTC055650	Navbharat Global Services Private Limited	Director	3/10/2006	3/10/2006	23/05/2007	Active	NO
38	U40109MH2006PTC165071	India Energy Investments Private Limited	Director	5/10/2006	5/10/2006	-	Amalgamated	NO
39	U67120MH2006PTC165070	Reliance Capital Research Private Limited	Director	5/10/2006	5/10/2006	20/02/2007	Active	NO
40	U40101MH1995PTC085801	Reliance Jamnagar Power Private Limited	Director	1/11/2006	1/11/2006	-	Active	NO
41	U74140MH2006PTC165904	Reliance Healthnet Private Limited	Director	30/11/2006	30/11/2006	-	Active	NO
42	U74120MH2007PTC167866	Sonata Capital Private Limited	Director	15/02/2007	15/02/2007	15/01/2008	Active	YES
43	U45400MH2007PTC169141	Td Toll Road Private Limited	Director	24/03/2007	24/03/2007	30/08/2011	Active	NO
44	U74999MH2007PTC169145	Su Toll Road Private Limited	Director	24/03/2007	24/03/2007	8/8/2011	Active	NO
45	U45203MH2007PTC169208	Tk Toll Road Private Limited	Director	26/03/2007	26/03/2007	8/8/2011	Active	NO
46	U45201MH2006PTC162951	Reliance Projects Finance Private Limited	Director	30/03/2007	30/03/2007	-	Amalgamated	NO
47	U51909MH2005PLC158349	Reliance Infraprojects Limited	Director	30/03/2007	30/03/2007	-	Amalgamated	NO
48	U45201MH2006PLC162603	Reliance Infraventures Limited	Director	30/03/2007	30/03/2007	-	Active	NO
49	U45200MH2007PTC171183	International Convention Centre Constructions Private Limited	Director	28/05/2007	28/05/2007	30/11/2007	Active	NO
50	U40102MH2006PLC190557	Sasan Power Limited	Director	29/09/2008	29/09/2007	26/05/2011	Active	NO
51	U45201MH2006PTC166433	Mumbai Metro One Private Limited.	Nominee director	17/11/2007	17/11/2007	-	Active	NO
52	U65999MH2009PLC189285	Reliance Wealth Management Limited	Additional director	4/3/2009	4/3/2009	22/09/2009	Active	NO
53	U60222MH2009PTC196739	Mumbai Metro Transport Private Limited	Director	29/10/2009	29/10/2009	-	Active	NO

Name :

Mr. Deepak Krishna Gopal Shiv Saran Maheshwari

Designation :

Director

Address :

16034, Chaitanya Tower, Prabhadevi, Mumbai – 400025, Maharashtra, India

Date of Birth/Age :

25.09.1969

Date of Appointment :

17.11.2007

DIN No :

01724301

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	U72200KA2000PTC026249	Medybiz Private Limited	Director	29/09/2007	30/08/2006	15/12/2010	Active	NO
2	U63023KA2000PTC027229	Net Logistics Private Limited	Director	30/08/2006	30/08/2006	22/11/2010	Active	NO
3	U64201DL1998PLC096685	Su-Kam Power Systems Limited	Director	30/10/2007	30/07/2007	15/05/2009	Active	NO
4	U45201MH2006PTC166433	Mumbai Metro One Private Limited.	Nominee director	17/11/2007	17/11/2007	-	Active	NO
5	L18101MH1991PLC059804	Maxwell Industries Limited	Director	29/08/2008	29/01/2008	19/05/2009	Active	NO
6	U51494MH2004PLC147108	Textrade International Limited	Nominee director	30/08/2008	30/01/2008	1/6/2009	Active	NO
7	U28100MH1973PLC016533	E M I Transmission Limited	Nominee director	5/8/2008	31/01/2008	1/6/2009	Active	NO
8	U85110KA1990PLC011089	Dtdc Courier And Cargo Limited	Director	29/09/2008	14/02/2008	21/05/2009	Active	NO
9	U40102MH2007PTC175897	Western Region Transmission (Maharashtra) Private Limited	Director	2/9/2008	29/03/2008	-	Active	NO
10	U40102MH2007PTC175896	Western Region Transmission(Gujarat) Private Limited	Director	2/9/2008	29/03/2008	-	Active	NO
11	U60222MH2009PTC196739	Mumbai Metro Transport Private Limited	Director	29/10/2009	29/10/2009	-	Active	NO
12	U24117KA2009PTC051603	Medybiz Pharma Private Limited	Director	25/09/2010	23/11/2009	17/12/2010	Active	NO

Name :

Mr. Thomas Chelikuzhil Benjamin

Designation :

Nominee Director

Address :

1^st Floor,Class-1,Officers Quarters, Building 2, Foreshore Road, Mumbai – 400 021, Maharashtra, India.

Date of Birth/Age :

30.09.1953

Date of Appointment :

25.04.2008

DIN No :

01814882

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	U45200MH1974SGC017281	Maharashtra State Police Housing And Welfare Corpn Limited	Director	7/5/2007	7/5/2007	16/05/2008	Active	YES
2	U99999MH1970SGC014574	City And Industrial Development Corporation Of Maharashtra Limited	Director	6/6/2007	6/6/2007	-	Active	YES
3	U45201MH2006PTC166433	Mumbai Metro One Private Limited.	Nominee director	25/04/2008	25/04/2008	-	Active	NO
4	U60100MH2008SGC181770	Mumbai Metro Rail Corporation Limited	Director	30/04/2008	30/04/2008	-	Active	NO
5	U45203MH1999GOI120765	Mumbai Railyway Vikas Corporation Limited	Director	20/06/2008	20/06/2008	-	Active	NO
6	U74999MH2002SGC136794	Maharashtra Urban Infrastructure Fund Trustee Company Limited	Director	9/7/2008	9/7/2008	-	Active	NO
7	U74999MH2002SGC136793	Maharashtra Urban Infrastructure Development Company Limited	Director	9/7/2008	9/7/2008	-	Active	NO

Name :

Mr. Rahul Durga Prasad Asthana

Designation :

Nominee Director

Address :

40, Ambar, 10^th Floor, Narayan Dabholkar Marg, Malbar Hill, Mumbai-400006, Maarashtra, India

Date of Birth/Age :

18.02.1953

Date of Appointment :

30.03.2011

DIN No :

00234247

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	U12000JH1967GOI000806	Uranium Corporation Of India Limited	Director	16/05/2002	16/05/2002	26/03/2007	Active	NO
2	U40104TN2003GOI051811	Bharatiya Nabhikiya Vidyut Nigam Limited	Director	28/10/2004	28/10/2004	30/04/2007	Active	NO
3	U40109MH2005SGC153646	Maharashtra State Electricity Transmission Company Limited	Director	20/12/2007	30/03/2007	5/8/2008	Active	NO
4	L28920MH1919PLC000567	The Tata Power Company Limited	Nominee director	30/03/2007	30/03/2007	21/08/2008	Active	NO
5	U40100MH2005SGC153648	Maharashtra State Power Generation Company Limited	Director	26/09/2007	5/4/2007	27/08/2008	Active	NO
6	U40100MH2005SGC153649	Mseb Holding Company Limited	Director	7/4/2007	7/4/2007	5/8/2008	Active	NO
7	U40105DL2005PTC138458	Ratnagiri Gas And Power Private Limited	Director	10/4/2007	10/4/2007	29/08/2008	Active	NO
8	U40109MH2005SGC153645	Maharashtra State Electricity Distribution Company Limited	Director	3/6/2008	3/5/2007	2/9/2008	Active	NO
9	U45201MH2006PTC166433	Mumbai Metro One Private Limited.	Nominee director	30/03/2011	30/03/2011	-	Active	NO
10	U60100MH2008SGC181770	Mumbai Metro Rail Corporation Limited	Director appointed in casual vacancy	31/03/2011	31/03/2011	-	Active	NO
11	U99999MH1970SGC014574	City And Industrial Development Corporation Of Maharashtra Limited	Nominee director	26/07/2011	26/07/2011	-	Active	YES
12	U45200MH1996SGC101586	Maharashtra State Road Development Corporation Limited	Nominee director	27/09/2011	27/09/2011	-	Active	YES

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2011)

Names of Shareholders	No. of Shares
Fully Paid up Shares of Rs.10/- each
Reliance Infrastructure Limited, India	207006900
Mumbai Metropolitan Region Development Authority	78002600
Veolia Transport SZ	15000500
Total	300010000
Partly Paid up Shares (Paid up value Rs.7.50/- each)
Reliance Infrastructure Limited, India	146273100
Mumbai Metropolitan Region Development Authority	55117400
Veolia Transport SZ	10599500
Total	211990000
Grand Total	512000000

Equity Share Breakup

(AS ON 30.09.2011)

Category	Percentage
Government (Central and State)	26.00
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	5.00
Bodies corporate	69.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Operating of Metro Rails in Mumbai City.

Products :

Product Description	Item Code No.
Rail Based Transport Company	NA

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· IDBI Bank Limited, IDBI Tower, WTC Complex, Cuffe Parade, Mumbai-400005, Maharashtra, India

• Indian Bank
• Canara Bank
• Karur Vysya Bank
• Oriental Bank of Commerce
• Corporation Bank

· lClCl Bank Limited

Facilities :

(Rs. in millions)

Secured loans	As on 31.03.2010	As on 31.03.2009
Rupee Term Loan from Banks: (Secured by first charge by way of hypothecation on the companies movable Properties, moveable Machinery, Machinery spares, equipments, tools and accessories, Vehicles and all other movable assets both present and future except the Project assets. Further secured by way of assignment of book debts, Escrow account balances aid revenues of whatsoever nature both present and future) (Repayable within one year – Nil - Previous year - NA )	2393.921	2104.700
Total	2393.921	2393.921

Banking Relations :	--
Financial Institution :	IDBI Trusteeship Services Limited, Asian Building, ground Floor, 17, R. Kamani Marg, Ballard Estate, Mumbai-400001, Maharahstra, India
Auditors :
Name :	Mr. T. R. Chadha and Company Chartered Accountant
Address :	1, Smruti, Ground Floor, M. V. Panloskar Road, Near Hanuman Cross Road No.2, Vile Parle (East), Mumnai-400057, Maharashtra, India
Tel. No.:	91-22-26121428
Fax No.:	91-22-26100092
E-Mail :	mumbai@trchadha.com
Income-tax PAN of auditor or auditor’s firm :	AAAFT1655Q
Holding Company :	Reliance Infrastructure Limited CIN No: L99999MH1929PLC001530
Others :	Mumbai Metropolitan Region Development Authority (MMRDA)
Associates/Subsidiaries :	· Reliance Infrastructure Limited · Mumbai Metropolitan Region Development Authority (MMRDA) · Veolia Transport SA · Metro One Operation Private Limited

CAPITAL STRUCTURE

(AS ON 30.09.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
550000000	Equity Share	Rs.10/- each	Rs. 5500.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
300010000	Partly Paid up Equity Share of Rs. 10/- each	Rs.10/- each	Rs.3000.100 millions
211990000	Partly paid up Equity Shares of Rs.10/- each	Rs.7.50/- each	Rs.1589.925 millions
	Total		Rs.4590.025

(AS ON 31.03.2010)

Authorised Capital :

Not Available

Paid-up Capital :

Rs.2500.100 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		2500.100	2500.100	1000.100
2] Share Application Money		226.403	134.446	209.447
3] Reserves & Surplus		2088.124	933.800	0.000
4] (Accumulated Losses)		(28.007)	(28.007)	(11.609)
NETWORTH		4786.620	3540.339	1197.938
LOAN FUNDS
1] Secured Loans		2393.921	2104.700	0.000
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		2393.921	2104.700	0.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		7180.541	5645.039	1197.938
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		30.668	29.796	28.945
Capital work-in-progress		7015.646	3750.480	464.969
INVESTMENT		311.151	1272.775	601.846
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.577
	Sundry Debtors	0.000	0.000	0.000
	Cash & Bank Balances	72.979	723.420	2.197
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	204.426	196.939	140.615
Total Current Assets		277.405	920.359	143.389
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	410.908	309.857	39.587
	Other Current Liabilities	39.282	16.146	0.135
	Provisions	4.139	2.368	1.490
Total Current Liabilities		454.329	328.371	41.211
Net Current Assets		(176.924)	591.988	102.178
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		7180.541	5645.039	1197.938

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	INCOME		0.000	0.000	0.000
Less	EXPENSES
		Share Issue Expenses	0.000	16.398	1.000
		Share Issue Expenses Written Off	0.000	0.000	10.602
		Preliminary Expenses Written Off	0.000	0.000	0.007
		TOTAL	0.000	16.398	11.609
	PROFIT/LOSS BEFORE TAX		0.000	(16.398)	(11.609)
Less	TAX		0.000	0.00	0.000
	PROFIT/LOSS AFTER TAX		0.000	(16.398)	(11.609)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(28.007)	(11.609)	0.000
	BALANCE CARRIED TO THE B/S		(28.007)	(28.007)	(11.609)
	IMPORTS
		Capital Goods	333.142	0.000	0.000
		Advance for Capital Contracts	34.786	580.197	0.000
	TOTAL IMPORTS		367.928	580.197	0.000
	Earnings Per Share (Rs.)		NA	(0.13)	(0.39)

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
Return on Total Assets (PBT/Total Assets}	(%)	0.000	(1.73)	(6.74)
Return on Investment (ROI) (PBT/Networth)		0.000	0.00	(0.01)
Debt Equity Ratio (Total Liability/Networth)		0.59	0.69	0.03
Current Ratio (Current Asset/Current Liability)		0.61	2.80	3.48

LOCAL AGENCY FURTHER INFORMATION

BACKGROUND:

The Company was incorporated on 22nd December 2006 to implement the elevated 11.5 km Mass Rapid Transit System Project (Project) along the Versova- Andheri- Ghatkopar (VAG) corridor in Mumbai.

It is a Joint Venture Company formed by Reliance Infrastructure Limited (RInfra), Mumbai Metropolitan Region Development Authority (MMRDA) and Veolia Transport SA, France (Veolia).

BUSINESS OPERATIONS:

During the year, the Company did not carry out any revenue service activities.

NOTE:

The Registered office of the company has been shifted from E-4(I), 3^rd Floor, MIDC Area, Marol, Andheri (East), Mumbai-400093, Maharashtra, India to the present address w.e.f. 29.03.2007.

CONTINGENT LIABILITY

(a) The company has not given guarantee on behalf of others. Bank guarantees issued for performing its own obligations are not considered as part of contingent liability.

(b) Claims of suppliers against the Company not acknowledged as Debts Rs.58.738 MILLIONS (2008-09 Rs. Nil).

FORM 8:

Corporate identity number of the company	U45201MH2006PTC166433
Name of the company	MUMBAI METRO ONE PRIVATE LIMITED.
Address of the registered office or of the principal place of business in India of the company	2nd Floor, Satellite Silver, Andheri Kurla Road, Marol, Andheri (East), Mumbai-400059, Maharashtra, India E-Mail Id: virendra.Joshi@relianceada.com
This form is for	Creation of charge
Type of charge	· Uncalled share capital · Book debts · Movable property · Others
Particular of charge holder	IDBI Bank Limited, IDBI Towerwtc Complex, Cuffe Parade, Mumbai-400005, Maharashtra, India E-Mail Id: sn.baheti@idbi.co.in
Nature of instrument creating charge	Deed of Hypothecation dated 29 March, 2011 by the Company in favor of IDBI Bank Limited( lenders)
Date of instrument Creating the charge	29/03/2011
Amount secured by the charge	Rs.1150.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	a) Rate of Interest: Rate of Interest Shall be IDBI Bank Base rate +225 bps b) Terms of repayment Within 15 days of receipt of 15% of VGF from MMRDA or October 15, 2012 whichever is earlier c) Margin Not Applicable d) Extent and operation of the charge Second charge on all Charged asset as per the Deed of Hypothecation dated 29 March 2011 e) Others Nil
Short Particulars of the property charged	i. (a) a second charge by way of hypothecation in favour of IDBI of all the Borrower'? moveable properties, moveable machinery, machinery spares, equipment, tools and accessories, vehicles. ii Charge on Letter of Credit, and all other movable assets, both present and future, save and except the Project Assets; iii a second charge by way of assignment by the Borrower of i) all the Borrower's Receivables, Accounts including. Escrow Account, book debts, revenues of whatsoever nature and wherever arising iv and all rights and interests, etc., present and future,ii) all (a) of the Project Documents, and (b) the guarantees, other performance warranties, indemnities and securitiesthat may be furnished in v in favour of the Borrower by the various contractors under the Project Documents such as Contracts, fare collection contract(s), OandM Contract(s), if any, after obtaining the written consent of the vi parties thereto, if Parties thereto if necessary, the right, title and interest of the Borrower in the Other Bank Accounts, and the right, title and interest of the Borrower by way of second charge vii in, to and under all the Government Approvals, insurance policies and uncalled capital of the Borrower (c) a second charge. on all intangible assets of the Borrower including but not limited to viii goodwill, intellectual property rights, undertaking and uncalled capital of the Borrower in favour of IDBI,

FIXED ASSETS:

Tangible Assets

· Office Equipments

· Electrical Fittings

· Furniture and Fixtures

· Vehicles

Intangible Assets

· Software

WEBSITE DETAILS:

Profile:

Subject is a Special Purpose Vehicle (SPV) incorporated under the Companies Act, 1956 to implement the Versova- Andheri- Ghatkopar (VAG) Metro corridor in Mumbai. It is a Joint Venture Company formed by Reliance Energy Limited, a Reliance ADA Group Company, Veolia Transport, France and Mumbai Metropolitan Region Development Authority (MMRDA).

While construction activity is in full swing along the alignment, all major contracts for the project have been awarded:

Package	Awarded to
Civil Works – Viaduct	Simplex Infrastructure Limited
Civil Works – Stations	Sew Infrastructure Limited
Civil Works – Special Bridges	Sew Infrastructure Limited
Civil Works – Depot Earthworks	Shyam Narayan and Bros
Rolling Stock	CSR Nanjing, China
Signalling System	Siemens
Power Supply Traction and SCADA	ABB
Communication System	Thales
Trackwork	VNC Rail One
Automatic Fare Collection	Indra
EandM	ABB
Escalators	Schindler
Lifts	OTIS
Depot Machinery and Plant	Awarded to various suppliers
Depot Civil Works	Ahluwalia Contracts (India) Limited.

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 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.50.28
UK Pound	1	Rs.80.07
Euro	1	Rs.68.45

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--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	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		52

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.