MIRA INFORM REPORT

Report Date :

08.10.2011

IDENTIFICATION DETAILS

Name :	GMR CHHATTISGARH ENERGY LIMITED (W.E.F. 29.09.2010)

Formally Known As :	GMR CHHATTISGARH ENERGY PRIVATE LIMITED

Registered Office :	Skip House, 25/ 1, Museum Road, Bangalore – 560 025, Karnataka

Country :	India

Financials (as on) :	31.03.2010

Date of Incorporation :	08.10.2008

Com. Reg. No.:	08-047974

Capital Investment / Paid-up Capital :	Rs.0.100 Millions

CIN No.: [Company Identification No.]	U40108KA2008PLC047974

TAN No.: [Tax Deduction & Collection Account No.]	BLRG11704A

Legal Form :	A Closely Held Public Limited Liability Company

Line of Business :	Subject engaged primarily in the business of setting and running of Power plant.

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (28)

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

Maximum Credit Limit :	USD 1080000

Status :	Project under implementation

Payment Behaviour :	Usually Correct

Litigation :	Clear

Comments :	Subject is a GMR Group company. It is a relatively new company and project is under its implementation stage. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. Subject being a GMR Group 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 – April 1, 2010

Country Name

Previous Rating

(31.12.2009)

Current Rating

(01.04.2010)

India

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

LOCATIONS

Registered Office / Regional Office :	Skip House, 25/ 1, Museum Road, Bangalore – 560 025, Karnataka, India
Tel. No.:	91-80-40432000 / 40534000
Fax No.:	91-80-40432180
E-Mail :	gmrenergy@gmrgroup.in energy_secretarial@gmrgroup.in
Website :	http://www.gmrgroup.co.in

Corporate Office :	IBC Knowledge Park, Phase 2, "D" Block, 9th Floor, 4/1, Bannerghatta Road, Bangalore - 560 029, Karnataka, India
Tel. No.:	91-80-40432000
Fax No.:	91-80-40432180
E-Mail :	info@gmrgroup.in

DIRECTORS

As on 30.09.2011

Name :	Mr. Venkatanageswara Rao Boda
Designation :	Director
Address :	98, Next to Nal Layot, Behind FCI Building, East End Main Road, 4^th Block, Jayanagar, Bangalore – 560 041, Karnataka, India
Date of Birth/Age :	16.01.1954
Date of Appointment :	08.10.2008
DIN No.:	00051167

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	L45203KA1996PLC034805	GMR Infrastructure Limited	Managing director	01-10-11	10-05-96	-	Active	NO
2	U40105KA1995PLC016942	GMR Power Corporation Limited	Director	13-10-08	31-05-99	-	Active	NO
3	U23201KA1997PLC032964	GMR Vemagiri Power Generation Limited	Director	01-10-01	01-10-01	-	Active	NO
4	U85110KA1996PLC021262	GMR Energy Limited	Director	01-10-11	20-12-01	-	Active	NO
5	U62100AP2002PLC040118	GMR Hyderabad International Airport Limited	Director	29-10-03	29-10-03	17-07-10	Active	NO
6	U80301AP2003NPL042195	GMR Varalakshmi Foundation	Director	14-12-04	14-12-04	-	Active	NO
7	U74920KA2005PLC036865	Raxa Security Services Limited	Director	19-09-05	19-09-05	13-09-07	Active	NO
8	U45200KA2005PLC049327	GMR Pochanpalli Expressways Limited.	Director	08-06-06	02-03-06	11-10-07	Active	NO
9	U45200KA2005PTC049326	GMR Jadcherla Expressways Private Limited	Director	08-06-06	02-03-06	11-10-07	Active	NO
10	U45203KA2005PTC036773	GMR Ambala-Chandigarh Expressways Private Limited	Director	03-05-06	07-03-06	11-10-07	Active	NO
11	U45203KA2006PTC038784	GMR Ulundurpet Expressways Private Limited	Director	20-03-06	20-03-06	11-10-07	Active	NO
12	U45203KA2001PTC049329	GMR Tambaram Tindivanam Expressways Private Limited	Director	22-09-06	28-03-06	11-10-07	Active	NO
13	U45203KA2001PTC049328	GMR Tuni-Anakapalli Expressways Private Limited	Director	22-09-06	28-03-06	11-10-07	Active	NO
14	U45203KA2006PLC038379	GMR Highways Limited	Director	02-08-07	06-01-07	07-11-07	Active	NO
15	U67120MH1993PTC207451	GMR Holdings Private Limited	Director	30-09-08	18-08-07	-	Active	NO
16	U40101UR2006PTC031381	GMR (Badrinath) Hydro Power Generation Private Limited	Director	03-07-08	17-10-07	13-10-09	Active	NO
17	U13100KA2005PTC037308	GMR Mining And Energy Private Limited	Director	09-08-11	17-10-07	-	Active	NO
18	L28100KA1986PLC049077	Parrys Sugar Industries Limited	Director	25-09-08	29-10-07	19-10-09	Active	NO
19	L27101AP2006PLC049591	Cronimet Alloys India Limited	Director	25-09-08	29-10-07	17-12-09	Active	NO
20	U40101KA2007PLC044809	GMR Kamalanga Energy Limited	Whole-time director	13-10-08	28-12-07	-	Active	NO
21	U74200KA2008PTC045448	GMR Consulting Services Private Limited	Director	28-02-08	28-02-08	08-10-08	Active	NO
22	U23209AP2005PTC047372	Kakinada Refinery And Petrochemicals Private Limited	Director	22-09-08	23-06-08	-	Active	NO
23	U40101KA2008PTC047277	GMR Coastal Energy Private Limited	Director	24-07-08	24-07-08	13-08-09	Active	NO
24	U40101HP2008PTC030971	GMR Bajoli Holi Hydropower Private Limited	Director	01-10-08	01-10-08	-	Active	NO
25	U40108KA2008PLC047974	GMR Chhattisgarh Energy Limited	Director	08-10-08	08-10-08	-	Active	NO
26	U40101KA2008PTC048190	GMR Londa Hydropower Private Limited	Director	05-11-08	05-11-08	13-08-09	Active	NO
27	U40108UR2009PTC032780	Badrinath Hydro Power Generation Private Limited	Director	11-02-09	11-02-09	13-10-09	Active	NO
28	U40100MH2005PLC155140	Emco Energy Limited	Director	16-08-10	24-07-09	-	Active	NO
29	U40107KA2009PLC051643	GMR Rajahmundry Energy Limited	Director	27-11-09	27-11-09	-	Active	NO
30	U40109KA1998PLC052000	Sjk Powergen Limited	Director	16-08-10	14-12-09	-	Active	NO
31	U40107KA2010PLC053789	GMR Maharashtra Energy Limited	Director	26-05-10	26-05-10	-	Active	NO
32	U40101KA2010PTC054124	GMR Bundelkhand Energy Private Limited	Director	18-06-10	18-06-10	-	Active	NO
33	U40107KA2010PTC054125	GMR Uttar Pradesh Energy Private Limited	Director	18-06-10	18-06-10	01-03-11	Active	NO
34	U45200AP2003PTC041961	Kakinada Sez Private Limited	Additional director	25-05-11	25-05-11	-	Active	NO

Name :	Mr. Raaj Kumar
Designation :	Managing Director
Address :	A Block, Flat No.502, Sobha Opal, 39^th Cross, 18^th Main, 4 T Block, Jayanagar, Bangalore – 560 041, Karnataka, India
Date of Birth/Age :	20.12.1952
Date of Appointment :	13.10.2008
DIN No.:	00011502

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	L74999MH1994PLC077041	Jsw Energy Limited	Managing director	18-01-05	18-01-05	30-08-07	Active	NO
2	U31102MH1996PLC185098	Raj Westpower Ltd	Director	04-04-05	04-04-05	30-08-07	Active	NO
3	U40100MH2005PLC154613	Jsw Power Trading Company Limited	Director	06-08-05	06-08-05	30-08-07	Active	NO
4	U40101MH2006PLC161642	Jsw Energy (Vijayanagar) Limited	Director	05-05-06	05-05-06	31-08-07	Amalgamated	NO
5	U40106MH2006PLC162941	Jsw Energy (Ratnagiri) Limited	Director	30-06-06	30-06-06	31-08-07	Amalgamated	NO
6	U65923MH2007PTC167960	Jsw Energy Investments Private Limited	Director	19-02-07	19-02-07	31-08-07	Active	NO
7	U40102MH2007PLC172095	JSW Powertransco Limited	Director	03-07-07	03-07-07	30-08-07	Amalgamated	NO
8	U40105KA1995PLC016942	GMR Power Corporation Limited	Director	04-07-08	15-10-07	-	Active	NO
9	U23201KA1997PLC032964	GMR Vemagiri Power Generation Limited	Director	04-07-08	15-10-07	-	Active	NO
10	U13100KA2005PTC037308	GMR Mining And Energy Private Limited	Director	09-08-11	17-10-07	-	Active	NO
11	U40101UR2006PTC031381	GMR (Badrinath) Hydro Power Generation Private Limited	Director	03-07-08	17-10-07	-	Active	NO
12	U85110KA1996PLC021262	GMR Energy Limited	Whole-time director	17-10-10	17-10-07	-	Active	NO
13	U40101KA2007PLC044809	GMR Kamalanga Energy Limited	Director	28-12-07	28-12-07	17-05-10	Active	NO
14	U74200KA2008PTC045448	GMR Consulting Services Private Limited	Director	28-02-08	28-02-08	01-03-10	Active	NO
15	U40101KA2008PTC047277	GMR Coastal Energy Private Limited	Director	24-07-08	24-07-08	-	Active	NO
16	U40101HP2008PTC030971	GMR Bajoli Holi Hydropower Private Limited	Director	01-10-08	01-10-08	-	Active	NO
17	U40108KA2008PLC047974	GMR Chhattisgarh Energy Limited	Managing director	02-12-09	08-10-08	-	Active	NO
18	U40101KA2008PTC048190	GMR Londa Hydropower Private Limited	Director	05-11-08	05-11-08	08-12-09	Active	NO
19	U40101KA2009PTC048996	GMR Kakinada Energy Private Limited	Director	29-01-09	29-01-09	26-11-09	Active	NO
20	U40108UR2009PTC032780	Badrinath Hydro Power Generation Private Limited	Director	11-02-09	11-02-09	05-01-10	Active	NO
21	U40100MH2005PLC155140	Emco Energy Limited	Director	16-08-10	24-07-09	-	Active	NO
22	U74900MH2008PLC179152	Power Exchange India Limited	Director	24-09-10	29-09-09	-	Active	NO
23	U40107KA2009PLC051643	GMR Rajahmundry Energy Limited	Director	27-11-09	27-11-09	-	Active	NO
24	U40109KA1998PLC052000	Sjk Powergen Limited	Director	16-08-10	14-12-09	-	Active	NO
25	U40107KA2010PLC053789	GMR Maharashtra Energy Limited	Director	26-05-10	26-05-10	21-10-10	Active	NO
26	U40107KA2010PTC054125	GMR Uttar Pradesh Energy Private Limited	Director	18-06-10	18-06-10	19-10-10	Active	NO
27	U40101KA2010PTC054124	GMR Bundelkhand Energy Private Limited	Director	18-06-10	18-06-10	19-10-10	Active	NO
28	U40109KA2010PLC054554	GMR Hosur Energy Limited	Director	22-07-10	22-07-10	21-10-10	Active	NO
29	U40100KA2008PTC045783	GMR Gujarat Solar Power Private Limited	Director	14-07-11	19-10-10	-	Active	NO
30	U40109KA2009PLC060589	Aravali Transmission Service Company Limited	Director	05-07-11	19-01-11	-	Active	NO
31	U40109KA2009PLC059547	Maru Transmission Service Company Limited	Director	05-07-11	15-02-11	-	Active	NO

Name :	Mr. Srinivasachari Rajagopal
Designation :	Director
Address :	Varenya 1043, 10^th Main Road, Judicial, Officers Layout, Gkvk Post, Bangalore – 560065, India
Date of Birth/Age :	10.03.1940
Date of Appointment :	02.12.2009
DIN No.:	00022609

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	U85110KA1996PLC021262	GMR Energy Limited	Director	07-07-08	31-07-02	-	Active	NO
2	L29219WB1985PLC055352	Srei Infrastructure Finance Limited	Director	25-01-03	25-01-03	-	Active	NO
3	U45203KA2001PTC049328	GMR Tuni-Anakapalli Expressways Private Limited	Director	31-03-03	31-03-03	-	Active	NO
4	U45203KA2001PTC049329	GMR Tambaram Tindivanam Expressways Private Limited	Director	31-03-03	31-03-03	-	Active	NO
5	U65922TN1995PLC031681	National Trust Housing Finance Limited	Director	11-04-03	11-04-03	-	Active	NO
6	U65999WB1994PLC065722	Srei Venture Capital Limited	Director	13-06-05	13-06-05	-	Active	NO
7	U18101TZ2005PLC012295	S.P.Apparels Limited	Director	30-09-06	30-01-06	15-03-11	Active	NO
8	L28990MH1996PLC097945	Varun Industries Limited	Director	16-07-07	05-12-06	-	Active	NO
9	L30006TN1995PLC031651	Zylog Systems Limited	Director	21-06-07	28-01-07	-	Active	NO
10	U72200KA2003PTC032027	Wisdomleaf Technologies Private Limited	Additional director	14-07-07	14-07-07	-	Active	NO
11	U40102MH2007PLC172552	Usher Eco Power Limited	Director	27-06-08	15-05-08	31-10-09	Active	NO
12	U40101KA2007PLC044809	GMR Kamalanga Energy Limited	Director	24-08-09	01-09-08	-	Active	NO
13	U72200TN2005PLC058451	Zylog Systems (India) Limited.	Director	23-09-09	19-01-09	-	Active	NO
14	U40108KA2008PLC047974	GMR Chhattisgarh Energy Limited	Director	13-08-10	02-12-09	-	Active	NO
15	U72900KA2009PTC051942	Careercubicle Technologies Private Limited	Director	23-12-09	23-12-09	-	Active	NO
16	U51909TN1994PLC028470	Vivek Limited	Director	30-10-10	09-03-10	-	Active	NO
17	U45201KA2009PTC050109	GMR Hyderabad Vijayawada Expressways Private Limited	Director	11-08-10	18-03-10	-	Active	NO

Name :	Mr. Nangavaram Chandramouli Sarabeswaran
Designation :	Director
Address :	No.27, Papansam Sivan, Salai Palace Road, Chennai – 600041, Tamil Nadu, India
Date of Birth/Age :	07.05.1944
Date of Appointment :	02.12.2009
DIN No.:	00167868

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	U51102TN1954PTC002241	R Subbaraman & Co Private Limited	Director	31-07-89	31-07-89	-	Active	NO
2	U15209TN1997PTC039463	Nankkavaram Farm Private Limited	Director	27-01-99	27-01-99	14-02-08	Strike off	NO
3	U85110KA1996PLC021262	GMR Energy Limited	Director	08-03-04	08-03-04	-	Active	NO
4	U65929TN2005PLC057390	Madura Micro Finance Limited	Director	16-03-06	16-03-06	-	Active	NO
5	U45203KA2006PTC038784	GMR Ulundurpet Expressways Private Limited	Director	05-07-07	25-04-06	-	Active	NO
6	U45203KA2005PTC036773	GMR Ambala-Chandigarh Expressways Private Limited	Director	03-05-06	25-04-06	-	Active	NO
7	U45200KA2005PLC049327	GMR Pochanpalli Expressways Limited.	Director	08-06-06	25-04-06	-	Active	NO
8	U45200KA2005PTC049326	GMR Jadcherla Expressways Private Limited	Director	08-06-06	25-04-06	-	Active	NO
9	U40101UR2006PTC031381	GMR (Badrinath) Hydro Power Generation Private Limited	Director	19-06-06	19-06-06	-	Active	NO
10	L27101AP2006PLC049591	Cronimet Alloys India Limited	Director	28-06-07	28-06-07	17-12-09	Active	NO
11	U40105KA1995PLC016942	GMR Power Corporation Limited	Director	04-07-08	07-05-08	-	Active	NO
12	U40101KA2007PLC044809	GMR Kamalanga Energy Limited	Director	24-08-09	01-09-08	-	Active	NO
13	U45203KA2006PLC038379	GMR Highways Limited	Director	10-08-09	18-03-09	-	Active	NO
14	U40108KA2008PLC047974	GMR Chhattisgarh Energy Limited	Director	13-08-10	02-12-09	-	Active	NO

Name :	Mrs. Appana Padmanabha Rao
Designation :	Director
Address :	557, 20^th Main 36^th Cross, 4^th T Block, Jayanagar, Bangalore – 560041, Karnataka, India
Date of Birth/Age :	25.11.1936
Date of Appointment :	02.12.2009
DIN No.:	00194441

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	U72200KA1993PLC030645	Ideaspace Solutions Limited	Director	04-08-01	04-08-01	-	Active	NO
2	U23201KA1997PLC032964	GMR Vemagiri Power Generation Limited	Director	11-03-04	11-03-04	-	Active	NO
3	U40101KA2007PLC044809	GMR Kamalanga Energy Limited	Director	24-08-09	01-09-08	-	Active	NO
4	U40108KA2008PLC047974	GMR Chhattisgarh Energy Limited	Director	13-08-10	02-12-09	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders		No. of Shares
GMR Energy Limited, India		1999940
B. V. N. Rao		10
G. M. Rao (Nominee of GMR Energy Limited)		10
G. Kiran Kumar(Nominee of GMR Energy Limited)		10
G Varalakshmi (Nominee of GMR Energy Limited)		10
G. B. S. Raju (Nominee of GMR Energy Limited)		10
Srinivas Bommidala (Nominee of GMR Energy Limited)		10

Total		2000000

List of Allottees

As on 12.08.2011

Name of Allottee		No. of Shares Allotted
GMR Energy Limited, India		101650000

Total		101650000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2011

Category		Percentage of Holding
Bodies corporate		100.00

BUSINESS DETAILS

Line of Business :	Subject engaged primarily in the business of setting and running of Power plant.

Products :	Service : Electric Power

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Not Available

Facilities :

Unsecured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)

Inter Corporate Deposits - From GMR Energy Limited	131.250	1182.700
Unsecured Optionally Convertible Debentures (1,33,00,000 Debentures of Rs.100/-each fully paid up)	1330.000	0.000
Total	1461.250	1182.700

Note

The Company shall not have the right to redeem the outstanding Debenture in full or in part {with or without prepayment charges} until the expiry of 6 (six) months from the Closing Date. The company shall have the right to redeem the outstanding Debenture in full or in part at any time with the prior written consent of the Debenture holder at a premature repayment which shall. However, be entirely at the sole discretion of the Debenture holders, subject to such terms and conditions including payment of premium, if any, as may be stipulated by the Debenture holders. The debenture holders at its discretion. shall have the right, on the conversion date, to convert air or part of the debentures at their par

Value into 10 ordinary equity shares of the company at their face value, for every one debenture held.

The debenture holders shall have the right to request the Company to redeem all or part of the debentures at their principal amount (together with interest accrued to the date fixed for redemption) on the redemption date. The company shall pay interest at the rate mutually agreed with the debenture holders on monthly basis from the dale of subscription to till the conversion date/redemption date, which is the date falling on the expiry of 15 months from the date of subscription.


Banking Relations :	--

Financial Institutions :	Axis Trustee Services Limited, Maker Towers, F Wing, 6^th Floor, Cuff Parade, Colaba, Mumbai – 400005, Maharashtra, India

Auditors :
Name :	Chaturvedi and Shah Chartered Accountants Chartered Accountants
Address :	714 – 715, Tulsiani Chambers 212, Nariman Point, Mumbai·400 021, Maharashtra, India
Tel No.:	91-22-30218500
Fax No.:	91-22-22840892
PAN:	AAAFC0662N

Holding Company :	GMR Holdings Private Limited (GHPL) GMR Energy Limited (GEL) ( Holding Company w.e.f. 25^th November 2009) GMR Infrastructure limited (GIL)

Fellow Subsidiary :	GMR Power Corporation Limited (GPCL GMR Bannerghatta Properties Private Limited (GBPPL ) (Till 24^th November 2009) Rajam Enterprises Private Limited (Till 24^th November 2009) Grandhi Enterprises Private Limited (Till 24^th November 2009) GMR Corporate Affairs Private Limited (GCAPL) (Till 24^th November 2009) GMR Aviation Private Limited (GAPL) (Till 24^th November 2009) GMR Varalakshmi Foundation (GMRVF) (Till 24^th November 2009)

CAPITAL STRUCTURE

After 30.09.2010

Authorised Capital :

Rs.5200.000 Millions

Issued, Subscribed & Paid-up Capital :

Rs.1036.500 Millions

As On 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs.10/- each	Rs.2.500 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs.10/- each	Rs.0.100 million

[Out of the above 10000 Equily shares, 4,.500 Equity Shares are held by GMR Energy Limited,. 2,800 Equity Shares are held by Rajarn Enterprises Private Limited (previously Known as Roshan Investments Private Limited) and 2700 Equity Shares are held by Gandhi Enterprises Private Limited) (Previously Known as Bluemoon Investments Private Limited]

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		0.100	0.100
2] Share Application Money		277.500	275.000
3] Reserves & Surplus		0.000	0.000
4] (Accumulated Losses)		(7.571)	0.000
NETWORTH		270.029	275.100
LOAN FUNDS
1] Secured Loans		0.000	0.000
2] Unsecured Loans		1461.250	1182.700
TOTAL BORROWING		1461.250	1182.700
DEFERRED TAX LIABILITIES		0.000	0.000

TOTAL		1731.279	1457.800

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		502.278	11.542
Capital work-in-progress		874.082	441.284

INVESTMENT		0.000	12.000
DEFERREX TAX ASSETS		0.000	0.000

CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000
	Sundry Debtors	0.000	0.000
	Cash & Bank Balances	0.578	4.214
	Other Current Assets	0.000	0.000
	Loans & Advances	384.530	1078.391
Total Current Assets		385.108	1082.605
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	11.900	80.309
	Other Liability	15.611	7.645
	Provisions	2.678	1.677
Total Current Liabilities		30.189	89.631
Net Current Assets		354.919	992.974

MISCELLANEOUS EXPENSES		0.000	0.000

TOTAL		1731.279	1457.800

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009
	SALES
		Income	0.000	0.000
		Other Income	0.000	0.000
		TOTAL	0.000	0.000

Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	7.432	0.000

	PROFIT / LOSS BEFORE TAX		(7.432)	0.000

Less	TAX		0.139	0.000

	PROFIT / LOSSAFTER TAX		(7.571)	0.000

	Earnings Per Share (Rs.)		(757.11)	0.00

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009
PAT / Total Income	(%)	0.00	0.00

Return on Total Assets (PBT/Total Assets}	(%)	(0.84)	0.00

Return on Investment (ROI) (PBT/Networth)		(0.03)	0.00

Debt Equity Ratio (Total Liability/Networth)		5.52	4.62

Current Ratio (Current Asset/Current Liability)		12.76	12.08

LOCAL AGENCY FURTHER INFORMATION

STATUS OF THE PROJECT

The company is a special purpose vehicle promoted by GMR Energy Limited to develop and operate a 1370 MW coal based power project in Raikheda Village, Tilda Block, Raipur District, Chhattisgarh.

Progress of the project development is as under

Acquisition and registration of 422 Acres of Government land, 345 Acres of Private land and 75 Acres for Ash Pond has been completed. Letter for capacity enhancement from 1200 MW to 1370 MW has been submitted to Central Electricity Authority (CEA) / Ministry of Power (MoP) for obtaining Coal Linkage. Government of Chhattisgarh has accorded 100% Water Allocation (36 MCM Per Annum) for the project. Final approval is awaited from MoEF for Environment Clearance. Letter is submitted to MoEF for an amendment of the capacity from 1200 MW to 1370 MW. In-principle Approval received for take- off railway siding from Tilda. Approval has been received from CSEB for Construction Power and an agreement was signed on March 17, 2010. Long Term Open Access (LTOA) approval has been received from PGCIL for enhanced capacity – 1370 MW and Bulk Power Transmission Agreement (BPTA) was signed on March 31, 2010.

SUBSIDIARY

During the year, the Company has become subsidiary of GMR Energy Limited (GEL). The entire 100% of the issued and paid-up share capital is held by the parent company, GEL.

FINANCIAL HIGHLIGHTS

The Company was hitherto grouping all expenditure during construction stage under ‘Expenditure during Construction Period pending allocation (Net)’ as per the Guidance Note issued by Institute of Chartered Accountants of India. Accounting Standard 26 requires all the expenditure which does not result in future economic benefits be expenses out in the year in which it is incurred. This requirement rendered the guidance note redundant and it was finally withdrawn in August 2008. Hence, your company has prepared its Profit and Loss Account for the first time on account of withdrawal of Guidance Note on treatment of expenditure during construction period. The Company has incurred loss of Rs.7.571 Millions during the year.

NATURE OF BUSINESS

Subject was incorporated on 8th Day of October, 2008 for Development and implementation of 1200MW Thermal Power Project al Raipur, Chhallisgarh, The proposed coal based Thermal Power Plant is located in Village Raikheda, Tilda Block, Raipur district, ChhaUisgarh,

REGIONAL OFFICES AND OVERSEAS OFFICES

Regional Office 2 :	GMR Group
Address :	4th Floor, Birla Tower, 25, Barakhamba Road, New Delhi - 110 001, Delhi, India
Tel. No.:	91 11 23766354 / 56
Fax No.:	91 11 23766352

Regional Office 3 :	Delhi International Airport Private Limited
Address :	New Udaan Bhawan, Terminal 3 Opposite ATC Complex, International Terminal Indira Gandhi International Airport New Delhi - 110 037, Delhi, India
Tel. No.:	91-11-25661000
Fax No.:	91-11-2572144

Regional Office 4 :	GMR Group
Address :	Highways Sector Building No.7-A, Dwarka Sector 19, New Delhi - 110 075, Delhi, India
Tel. No.:	91-11-25362477
Fax No.:	91-11-25362477

Regional Office 5 :	GMR (Badrinath) Hydro Power Generation Private Limited
Address :	The Mira Corporate Suites Block-D, Second Floor, 1 and 2 Ishwar Nagar, New Delhi – 110 065, Delhi, India
Tel. No.:	91-11- 46529500 to 14

Regional Office 6 :	GMR Hyderabad International Airport Limited
Address :	4th Floor, Birla Tower, 25, Barakhamba Road, New Delhi - 110 001, Delhi, India
Tel. No.:	91 11 23766354-56
Fax No.:	91 11 23766352

Regional Office 7 :	GMR Sports Private Limited
Address :	301, 3rd Floor, World Trade Towers Barakhamba Lane New Delhi – 110 001, Delhi, India
Tel. No.:	91-11-43568888

Regional Office 8 :	GMR Energy Limited (Bajoli Holi)
Address :	Village and Past Office Holi Sub –Tehsil Holi District: Chamba - 176 310, Himachal Pradesh,India.

Regional Office 9 :	GMR Energy Limited
Address :	Kamalanga Thermal Power Plant HIG -28 BDA, Gangaghar Mehar Marg, Jaydev Vihar - 751 013, Bhubaneswar, India.
Tel. No.:	91-674-2303995 to 97
Fax No.:	91-674 - 2393994

Regional Office 10 :	GMR Alaknanda Hydro Power Badrinath
Address :	Shriram Guest House Near GMNV Hotel Joshimath Chamoli District - 246443, Uttarakhand, India

Regional Office 11 :	Alaknanda Hydro Power Project
Address	# 140, Vasant Vihar, Phase– 1 Dehradun, Uttarakhand,
Tel. No.:	91-135 -6451116

Regional Office 12 :	GMR Ambala – Chandigarh Expressways Private Limited
Address :	GMR Toll Plaza Village – Dapar, Tehsil – Dearabassi District: S. A. S Nagar Mohali, Punjab, India
Tel. No.:	91-1762-248299 / 248099 / 248199

Regional Office 13 :	GMR Group
Address :	701/704, 7th Floor, Naman Centre, G Block Opposite Dena Bank Tower, Bandra Kurla Complex Bandra East, Mumbai – 400051, Maharashtra, India
Tel. No.:	91-22-42028000

Regional Office 14 :	GMR Group
Address :	8/1, King Street, Off: Richmond Road, Bangalore – 560 025, Karnataka, India
Tel. No.:	91-80-40534132

Regional Office 15 :	GMR Energy Limited
Address :	Near NMPT Guest House Tanir Bhavi Village, Panambur Mangalore – 575010, Karnataka, India
Tel. No.:	91-824-2400830 to 34
Fax No.:	91-824-2400840 / 41

Regional Office 16 :	GMR Power Corporation Private Limited
Address :	No.1, Pulianthope High Road, Basin Bridge, Chennai - 600012, Tamil Nadu, India
Tel. No.:	91-44-26671887 / 889
Fax No.:	91-44-26670910

Regional Office 17 :	GMR Ulundurpet Expressways Private Limited
Address :	No. 389/B, Trichy Main Road, Negha Towers, Vazhudha Reddy, Villupuram - 605 602, Tamil Nadu, India
Tel. No.:	91-4146-257485 / 486
Fax No.:	91-4146-257486

Regional Office 18 :	GMR Tambaram - Tindivanam Expressways Pvt. Ltd
Address :	No. 1 C/B, 1st Floor, R. V. Street, Chengalpattu - 603 001Tamil Nadu, India
Tel. No.:	91-44-27431162

Regional Office 19 :	GMR Varalakshmi Foundation
Address :	Community Service Wing C/o Bhavan’s School Complex, GMR Nagar, Rajam Srikakulam District – 532127 Andhra Pradesh, India
Tel. No.:	91-883-2452313
Fax No.:	91-883-2452312

Regional Office 20 :	GMR Vemagiri Power Generation Limited,
Address :	Vemagiri, Kadiyam Mandal, East Godavari District- 533125, Andhra Pradesh, India
Tel. No.:	91-883-2452313
Fax No.:	91-883-2452312

Regional Office 21 :	GMR Varalakshmi Foundation,
Address :	c/o Bhavan's School Campus GMR Nagar, Rajam, Srikakulam District -532127, Andhra Pradesh, India
Tel. No.:	91-8941-252686
Fax No.:	91-8941-252996

Regional Office 22 :	Jute Office
Address :	Bobbili Road, Rajam, Srikakulam District - 532 127, Andhra Pradesh, India
Tel. No.:	91-8941-251331
Fax No.:	91-8941-252696

Regional Office 23 :	GMR Institute of Technology
Address :	GMR Nagar, Rajam, Srikakulam District - 532127, Andhra Pradesh, India
Tel. No.:	91-8941-251592 / 251593
Fax No.:

Regional Office 24 :	GMR Tuni-Anakapalli Expressways Private Limited
Address :	NHAI PIU Complex, Near Nallamarmma Temple Kokkirapalli Village, Yellamanchilli – 531055, Visakhapatnam District, Andhra Pradesh, India
Tel. No.:	91-8931-230034
Fax No.:	91-8931-230154

Regional Office 25 :	GMR Hyderabad International Airport Limited
Address :	Project Site Office, Shamshabad – 501218, Ranga Reddy District Andhra Pradesh, India
Tel. No.:	91-40-24008204 / 205 / 206
Fax No.:	91-40-2400 8203

Regional Office 26 :	GMR Varalakshmi Foundation
Address :	C/o GMR HIAL Airport Office,3rd Floor, Shamshabad, Hyderabad - 500 409, Andhra Pradesh, India
Tel. No.:	91-40-67390000
Fax No.:

Regional Office 27 :	GMR Krishnagiri SEZ Limited
Address :	4th Floor, GHIAL New Office Building, Rajiv Gandhi International Airport, Shamshabad, Hyderabad - 500 409, Andhra Pradesh , India
Tel. No.:	91-40-67394099
Fax No.:	91-40-67394119

Regional Office 28 :	GMR Pochanapalli Expressways Private Limited / GMR Jadcherla Expressways Private Limited
Address :	6-3-866/1/G2, Greenlands, Begumpet, Hyderabad - 500016, Andhra Pradesh, India
Tel. No.:	91-40-23410191/ 92 / 93 / 94
Fax No.:	91-40-23410184

Regional Office 29 :	GMR Hyderabad International Airport Limited
Address :	Aparna Crest, 3rd Floor, Above Sony World Opposite to KBRC Park, Road No.2, Banjara Hills, Hyderabad - 500 034, Andhra Pradesh, India
Tel. No.:	91-40-6672 3333
Fax No.:	91-40-6646 2626

Overseas Office 1 :	GMR – Himtal Hydro Power Private Limited
Address :	Chakupat – 10, PO Box – 148, Lalitpur, Nepal
Tel. No.:	00977-1-5540718 / 5540967 / 5540637

Overseas Office 2 :	GMR Group Turkey
Address :	Buyukdere Cad. No:185 Kanyon Ofis Binasi Kat:234394 Levent Istanbul
Tel. No.:	90-212-3712700

Overseas Office 3 :	GMR International
Address :	1st Floor, 40, Portman Square, London - W1H 6LT, United Kingdom
Tel. No.:	44 (207) 725 1350

Overseas Office 4 :	GMR Infrastructure (S) Pte Limited
Address :	50 Raffles Place, #40-02/03, Singapore Land Tower, Singapore – 048623
Tel. No.:	(65) 6603 5959
Fax No.:	(65) 6533 3502

FORM 8

Corporate identity number of the company	U40108KA2008PLC047974
Name of the company	GMR CHHATTISGARH ENERGY LIMITED
Address of the registered office or of the principal place of business in India of the company	Skip House, 25/1, Museum Road Bangalore – 560025, Karnataka, India E- mail Id : energy-secretarial@gmrgroup.in
This form is for	Creation of charge
Type of charge	Uncalled share capital Book debts Movable property (not being pledge) Floating charge
Particular of charge holder	Axis Trustee Services Limited, Maker Towers 'F' Wing, 6th Floor, Cuffe Parade, Colaba, Mumbai – 400005, Maharashtra, India E- Mail Id : abhinav.shukla@axistrustee.com
Nature of instrument creating charge	Deed of Hypothecation
Date of instrument Creating the charge	10.12.2010
Amount secured by the charge	Rs.62170.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest As per attached Schedule II (Applicable Rate of Interest) of Facility Agreement dated December 10, 2010 Terms of repayment As per attached Schedule II of Facility Agreement dated December 10, 2010 Margin As per attached Schedule II of Facility Agreement dated December 10, 2010 Extent and operation of the charge Security is charged for repayment of the principal amounts of the loans (Rs. 6217 crore) and all interests, further interest, liquidated damages, premium on prepayment, all costs, charges and expenses and other monies owing by and all other present and future obligations and liabilities of the Borrower to the Lenders under the Financing Documents.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	All moveable assets of the Borrower, including all current assets, plant and machinery, boilers, heaters, cooling systems, generators, tools, furniture, fixtures, raw materials, goods-in-process, semifinished and finished goods, consumable stores and spares and such other movables, including book debts, bills, whether documentary or clean, all associated intangible assets in relation thereto, including but not limited to intellectual property rights and goodwill of the Borrower, all its bank accounts, including the Trust and Retention Account including the Debt Service Reserve Account, all uncalled capital of the Borrower, all its investments all cash flows and receivables of the Borrower book debts, commissions, and all other assets and securities of the Borrower including the CDM benefits all rights, title, interest, benefit, claims and demands whatsoever of the Borrower, in the Project Documents, all Clearances, licenses, permits, approvals, all letters of credit, guarantees, performance bonds, corporate guarantees, and bank guarantees all Insurance Contracts all intellectual property rights available with the Borrower in relation to the Project, all monies and amounts owing to or received by or receivable by the Borrower Detailed Particulars of the property or asset charged is mentioned in the clause 3 of deed of Hypothecation deed attached

FIXED ASSETS

Office Equipment
Furniture and Fixtures
Vehicles
Leasehold Land
Freehold Land
Computers

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.49.14
UK Pound	1	Rs.75.97
Euro	1	Rs.66.00

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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		28

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
NR		In view of the lack of information, we have no basis upon which to recommend credit dealings	No Rating

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.

MIRA INFORM REPORT

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