MIRA INFORM REPORT

Report Date :

21.10.2011

IDENTIFICATION DETAILS

Name :	ALOK INDUSTRIES LIMITED
Registered Office :	17/5/1, 521/1, Village Rakholi, Saily, Dadar Nagar Haveli, Silvassa - 396230
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	12.03.1986
Com. Reg. No.:	11-000334
Capital Investment / Paid-up Capital :	Rs.7877.900 Millions
CIN No.: [Company Identification No.]	L17110DN1986PLC000334
TAN No.: [Tax Deduction & Collection Account No.]	MUMA02206B MUMA19032G
PAN No.: [Permanent Account No.]	AAACA0201C
Legal Form :	A Public Limited Liability Company. The company’s shares are listed on the Stock Exchanges.
Line of Business :	Manufacturing of cotton and viscose / blended grey and processed fabrics and 100% cotton knitted fabrics and intermingled yarn.

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 12400000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established and a reputed company having fine track. Financial position of the company is good. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments. The company can be considered good for normal 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 :	17/5/1, 521/1, Village Rakholi, Saily, Dadar Nagar Haveli, Silvassa - 396230, India
Tel. No.:	91-260-3087000
Fax No.:	91-260-2645289
E-Mail :	premkumar@alokind.com
Website :	http://www.aloktextile.com http://www.alokind.com
Factory 1:	B-43, Mittal Tower, Nariman Point, Mumbai – 400 021, Maharashtra, India
Tel. No.:	91-22-22874865 / 22832923 / 24940129 / 22845233 / 22881279 / 22832923
Fax No.:	91-22-22874864 / 24936078
E-Mail :	aloknpt@bom7.vsnl.net.in info@aloktextile.com info@alokind.com sales@aloktextile.com sunil@alokind.com krishna@alokind.com premkumar@alokind.com
Corporate Office :	Peninsula Tower ‘A’ Wing, Peninsula Corporate Park, G. K. Marg, Lower Parel, Mumbai – 400013, Maharashtra, India
Tel. No. :	91-22-24996200 / 6500
E-Mail :	info@alokind.com
Factory :	Spinning 412, Saily, Silvassa, Union Territory of Dadra and Nagar Haveli Weaving Division Kalyan Road, Babla Compound, Bhiwandi – 421 302, District Thane, Maharashtra, India 209/1 and 209/4, Silvassa, Village Dadra, Union Territory of Dadra and Nagar Haveli Yarn Division 65, A, Piparia Industrial Estate, Silvassa – 396 230, Gujarat, India 103 / 2, Rakholi, Silvassa, Union Territory of Dadra and Nagar Haveli Processing C-16 / 2, TTC Industrial Area, MIDC, Navi Mumbai, Maharashtra, India S. No. 268, Village Balitha, Pardi, Valsad, Gujarat, India 254, Village Balitha, Taluka Pardi, District Valsad, State Gujarat Knitting Division 17/5/1, Rakholi, Silvassa, Union Territory of Dadra and Nagar Haveli 521/1, Saily, Union Territory of Dadra and Nagar Haveli, Silvassa 254, 261, 268, Balitha, Taluka Pardi, Dist: Valsad State: Gujarat 110, Morai, Pardi, Valsad, Gujarat, India Garments 374 Saily, Silvassa, Union Territory Dadra Nagar Haveli C – 271/2, TTC Industrial Area, Turbhe, Navi Mumbai Made Ups 374/2/2, Village Saily, Silvassa, Union Territory Dadra and Nagar Haveli 268, Balitha, Taluka Pardi, Dist. Valsad, Gujarat POY 521/1, Saily, Union Territory of Dadra and Nagar Haveli, Silvassa Texturising (Yarn) 103/2, Rakholi, Silvassa, Union Territory of Dadra and Nagar Haveli 521/1, Saily, Union Territory of Dadra and Nagar Haveli, Silvassa 17/5/1 and 521/1 Rakholi / Saily, Silvassa Hemming 103/2, Rakholi, Silvassa, Union Territory of Dadra and Nagar Haveli
Branches :	177, Alok House, Sant Nagar, East of Kailash, New Delhi – 110065, Delhi, India
Marketing Offices (Domestic)	Located at Delhi Office Bangalore Office Chennai Office
Marketing offices: (Overseas)	Located at Sri Lanka Office U.S.A. Office Czech Republic United Kingdom Bangladesh China British Virgin Islands

DIRECTORS

As on 31.03.2011

Name :

Mr. Ashok Bhagirathmal Jiwrajka

Designation :

Whole Time Director

Address :

301, Krishan Kunj, Shivaji Park Road No.5, 3^rd Floor, Mahim, Mumbai-400016, Maharashtra, India

Date of Birth/Age :

07.10.1950

Qualification :

Commerce Graduate

Experience :

30 Years

Other Directorship :

· Grabal Alok Impex Limited

· Alok Knit Exports Limited

· New City of Bombay Mfg. Mills Limited

· Alspun Infrastructure Limited

· Alok Infrastructure Private Limited

· Alok Apparels Private Limited

· Alok Clothing Private Limited

· Alok Realtors Private Limited

· Alok Homes and Apparels Private Limited

· Alok Land Holdings Private Limited

· Alok Aurangabad Infratex Private Limited

· Alok New City Infratex Private Limited

· Alok Industries International Limited

· Grabal Alok International Limited

Other Committee Memberships :

Chairman of the Executive Committee of Grabal Alok Impex Limited

Member of Share Transfer and Investors’ Grievances Committee of Grabal Alok Impex Limited

Date of Appointment :

12.03.1986

DIN No :

00168350

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	L17110DN1986PLC000334	ALOK INDUSTRIES LIMITED	Whole-time director	12-03-86	12-03-86	-	Active	NO
2	U65990MH1992PTC069023	JIWRAJKA INVESTMENT PVT LTD	Director	15-10-92	15-10-92	-	Active	NO
3	U17100MH1988PLC046581	ALOK KNIT EXPORTS LIMITED	Director	15-10-92	15-10-92	-	Active	NO
4	U51900MH1992PTC069604	JIWRAJKA ASSOCIATES PRIVATE LIMITED	Director	17-11-92	17-11-92	-	Active	NO
5	L51900DN1993PLC000352	GRABAL ALOK IMPEX LIMITED	Director	17-12-93	17-12-93	-	Active	NO
6	U65990MH1994PTC078951	NIRAJ REALTORS AND SHARES P LTD	Director	14-06-94	14-06-94	-	Active	NO
7	U17120MH1995PLC086170	ALOK DENIMS (INDIA) LIMITED	Director	08-03-95	08-03-95	-	Active	NO
8	U67120MH1995PTC086796	ASHOK REALTORS PRIVATE LIMITED	Director	24-03-95	24-03-95	-	Active	NO
9	U65910MH1994PTC080710	ALOK FINANCE PRIVATE LIMITED	Director	14-03-03	14-03-03	-	Active	NO
10	U67120MH1992PTC069094	NIRVAN HOLDINGS PRIVATE LIMITED	Director	15-03-03	15-03-03	-	Active	NO
11	U45201MH2006PLC164267	ALOK INFRASTRUCTURE LIMITED	Director	01-09-06	01-09-06	-	Active	NO
12	U45200MH1988PTC047603	GOGRI PROPERTIES PRIVATE LIMITED	Director	29-09-07	01-03-07	-	Active	NO
13	U45200GJ2007PLC064986	ALSPUN INFRASTRUCTURE LIMITED	Director	07-04-07	07-04-07	-	Active	NO
14	U18109MH2007PTC171850	ALOK APPARELS PRIVATE LIMITED	Director	20-06-07	20-06-07	-	Active	NO
15	U17299MH2007PTC172611	AMIGO SPORT PRIVATE LIMITED	Director	25-07-07	25-07-07	13-12-08	Active	NO
16	U17200MH2007PLC173934	ALOK RETAIL (INDIA) LIMITED	Director	07-09-07	07-09-07	-	Active	NO
17	U17291MH2007GOI195493	NEW CITY OF BOMBAY MFG. MILLS LIMITED	Director	22-12-08	22-12-07	26-06-09	Active	NO
18	U45400MH2008PTC177834	ALOK REALTORS PRIVATE LIMITED	Director	16-01-08	16-01-08	-	Active	NO
19	U45204MH2007PTC172817	ASHFORD INFOTECH PRIVATE LIMITED	Director	30-09-08	29-01-08	-	Active	NO
20	U70102MH2008PTC179047	ALOK LAND HOLDINGS PRIVATE LIMITED	Director	19-02-08	19-02-08	-	Active	NO
21	U45400MH2008PTC180429	ALOK AURANGABAD INFRATEX PRIVATE LIMITED	Director	25-03-08	25-03-08	16-11-09	Active	NO
22	U45400MH2008PTC180428	ALOK NEW CITY INFRATEX PRIVATE LIMITED	Director	25-03-08	25-03-08	16-11-09	Active	NO
23	U70102MH2008PTC181869	ALOK HB PROPERTIES PRIVATE LIMITED	Director	02-05-08	02-05-08	10-03-10	Active	NO
24	U55101MH2008PTC181867	ALOK HB HOTELS PRIVATE LIMITED	Director	02-05-08	02-05-08	10-03-10	Active	NO
25	U70102MH2009PTC194907	NIRVAN BUILDERS PRIVATE LIMITED	Director	13-08-09	13-08-09	-	Active	NO
26	U74900DN2009PLC000303	ALOK H AND A LIMITED	Director	12-10-09	12-10-09	-	Active	NO
27	U45201MH2006PTC165536	KESHAM DEVELOPERS AND INFOTECH PRIVATE LIMITED	Director	15-09-10	18-11-09	-	Active	NO
28	U67120MH2006PTC159739	SPRINGDALE INFORMATION AND TECHNOLOGIES PRIVATE LIMITED	Director	15-09-10	18-11-09	-	Active	NO

Name :

Mr. Dilip Bhagirathmal Jiwrajka

Designation :

Managing Director

Address :

6, Bay View, Abdul Gafar Khan Road, Worli, Sea Face, Mumbai-400018, Maharashtra, India

Date of Birth/Age :

09.10.1956

Date of Appointment :

12.03.1986

DIN No :

00173476

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	L17110DN1986PLC000334	ALOK INDUSTRIES LIMITED	Managing director	12-03-86	12-03-86	-	Active	NO
2	U65990MH1992PTC069023	JIWRAJKA INVESTMENT PVT LTD	Director	15-10-92	15-10-92	-	Active	NO
3	U17100MH1988PLC046581	ALOK KNIT EXPORTS LIMITED	Director	15-10-92	15-10-92	-	Active	NO
4	U51900MH1992PTC069604	JIWRAJKA ASSOCIATES PRIVATE LIMITED	Director	17-11-92	17-11-92	-	Active	NO
5	L51900DN1993PLC000352	GRABAL ALOK IMPEX LIMITED	Director	17-12-93	17-12-93	-	Active	NO
6	U65990MH1994PTC078951	NIRAJ REALTORS AND SHARES P LTD	Director	14-06-94	14-06-94	-	Active	NO
7	U65910MH1994PTC080710	ALOK FINANCE PRIVATE LIMITED	Director	01-09-94	01-09-94	-	Active	NO
8	U17120MH1995PLC086170	ALOK DENIMS (INDIA) LIMITED	Director	08-03-95	08-03-95	-	Active	NO
9	U67120MH1992PTC069094	NIRVAN HOLDINGS PRIVATE LIMITED	Director	15-03-03	15-03-03	-	Active	NO
10	U45201MH2006PLC164267	ALOK INFRASTRUCTURE LIMITED	Director	01-09-06	01-09-06	-	Active	NO
11	U45200MH1988PTC047603	GOGRI PROPERTIES PRIVATE LIMITED	Director	29-09-07	01-03-07	-	Active	NO
12	U45200GJ2007PLC064986	ALSPUN INFRASTRUCTURE LIMITED	Director	07-04-07	07-04-07	-	Active	NO
13	U18109MH2007PTC171850	ALOK APPARELS PRIVATE LIMITED	Director	20-06-07	20-06-07	-	Active	NO
14	U17299MH2007PTC172611	AMIGO SPORT PRIVATE LIMITED	Director	25-07-07	25-07-07	13-10-09	Active	NO
15	U17200MH2007PLC173934	ALOK RETAIL (INDIA) LIMITED	Director	07-09-07	07-09-07	-	Active	NO
16	U17121MH2007GOI195403	AURANGABAD TEXTILES AND APPAREL PARKS LIMITED	Director	16-01-09	22-12-07	-	Active	NO
17	U45400MH2008PTC177834	ALOK REALTORS PRIVATE LIMITED	Director	16-01-08	16-01-08	-	Active	NO
18	U45204MH2007PTC172817	ASHFORD INFOTECH PRIVATE LIMITED	Director	30-09-08	29-01-08	-	Active	NO
19	U70102MH2008PTC179047	ALOK LAND HOLDINGS PRIVATE LIMITED	Director	19-02-08	19-02-08	-	Active	NO
20	U45400MH2008PTC180429	ALOK AURANGABAD INFRATEX PRIVATE LIMITED	Director	25-03-08	25-03-08	16-11-09	Active	NO
21	U45400MH2008PTC180428	ALOK NEW CITY INFRATEX PRIVATE LIMITED	Director	25-03-08	25-03-08	16-11-09	Active	NO
22	U70102MH2008PTC181869	ALOK HB PROPERTIES PRIVATE LIMITED	Director	02-05-08	02-05-08	10-03-10	Active	NO
23	U55101MH2008PTC181867	ALOK HB HOTELS PRIVATE LIMITED	Director	02-05-08	02-05-08	10-03-10	Active	NO
24	U70102MH2009PTC194907	NIRVAN BUILDERS PRIVATE LIMITED	Director	13-08-09	13-08-09	-	Active	NO
25	U74900DN2009PLC000303	ALOK H&A LIMITED	Director	12-10-09	12-10-09	-	Active	NO
26	U45201MH2006PTC165536	KESHAM DEVELOPERS & INFOTECH PRIVATE LIMITED	Director	15-09-10	18-11-09	-	Active	NO
27	U67120MH2006PTC159739	Springdale Information and Technologies Private Limited	Director	15-09-10	18-11-09	-	Active	NO
28	U17120MH1967PLC013669	CONFEDERATION OF INDIAN TEXTILE INDUSTRY	Director	28-09-10	28-09-10	-	Active	NO

Name :

Mr. Surendra Bhagirathmal Jiwrajka

Designation :

Whole Time Director

Address :

Flat No.901, Palm Beach Apartments, 67-A, Pochkhanwala Road, Mumbai-400025, Maharashtra, India

Date of Birth/Age :

17.10.1958

Date of Appointment :

12.03.1986

DIN No :

00173525

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	L17110DN1986PLC000334	ALOK INDUSTRIES LIMITED	Whole-time director	12-03-86	12-03-86	-	Active	NO
2	U67120MH1992PTC069094	NIRVAN HOLDINGS PRIVATE LIMITED	Director	19-10-92	19-10-92	-	Active	NO
3	U51900MH1992PTC069604	JIWRAJKA ASSOCIATES PRIVATE LIMITED	Director	01-12-92	01-12-92	-	Active	NO
4	L51900DN1993PLC000352	GRABAL ALOK IMPEX LIMITED	Managing director	01-04-10	17-12-93	-	Active	NO
5	U65990MH1994PTC078951	NIRAJ REALTORS AND SHARES P LTD	Director	14-06-94	14-06-94	-	Active	NO
6	U65910MH1994PTC080710	ALOK FINANCE PRIVATE LIMITED	Director	15-10-94	15-10-94	-	Active	NO
7	U17120MH1995PLC086170	ALOK DENIMS (INDIA) LIMITED	Director	08-03-95	08-03-95	-	Active	NO
8	U65990MH1992PTC069023	JIWRAJKA INVESTMENT PVT LTD	Director	31-07-96	31-07-96	-	Active	NO
9	U17100MH1988PLC046581	ALOK KNIT EXPORTS LIMITED	Director	31-07-96	31-07-96	-	Active	NO
10	U45201MH2006PLC164267	ALOK INFRASTRUCTURE LIMITED	Director	01-09-06	01-09-06	-	Active	NO
11	U45200MH1988PTC047603	GOGRI PROPERTIES PRIVATE LIMITED	Director	29-09-07	01-03-07	-	Active	NO
12	U45200GJ2007PLC064986	ALSPUN INFRASTRUCTURE LIMITED	Director	07-04-07	07-04-07	-	Active	NO
13	U18109MH2007PTC171850	ALOK APPARELS PRIVATE LIMITED	Director	20-06-07	20-06-07	-	Active	NO
14	U17299MH2007PTC172611	AMIGO SPORT PRIVATE LIMITED	Director	25-07-07	25-07-07	13-12-08	Active	NO
15	U65923DD1992SGC001221	OMNIBUS INDUSTRIAL DEVELOPMENT CORPORATION OF DAMAN DIU AND DADRA NAGAR HAVELI LIMITED	Director	01-08-07	01-08-07	-	Active	YES
16	U17200MH2007PLC173934	ALOK RETAIL (INDIA) LIMITED	Director	07-09-07	07-09-07	-	Active	NO
17	U17121MH2007GOI195403	AURANGABAD TEXTILES AND APPAREL PARKS LIMITED	Director	22-12-08	22-12-07	-	Active	NO
18	U45400MH2008PTC177834	ALOK REALTORS PRIVATE LIMITED	Director	16-01-08	16-01-08	-	Active	NO
19	U45204MH2007PTC172817	ASHFORD INFOTECH PRIVATE LIMITED	Director	30-09-08	29-01-08	-	Active	NO
20	U70102MH2008PTC179047	ALOK LAND HOLDINGS PRIVATE LIMITED	Director	19-02-08	19-02-08	-	Active	NO
21	U45400MH2008PTC180429	ALOK AURANGABAD INFRATEX PRIVATE LIMITED	Director	25-03-08	25-03-08	16-11-09	Active	NO
22	U45400MH2008PTC180428	ALOK NEW CITY INFRATEX PRIVATE LIMITED	Director	25-03-08	25-03-08	16-11-09	Active	NO
23	U70102MH2008PTC181869	ALOK HB PROPERTIES PRIVATE LIMITED	Director	02-05-08	02-05-08	10-03-10	Active	NO
24	U55101MH2008PTC181867	ALOK HB HOTELS PRIVATE LIMITED	Director	02-05-08	02-05-08	10-03-10	Active	NO
25	U70102MH2009PTC194907	NIRVAN BUILDERS PRIVATE LIMITED	Director	13-08-09	13-08-09	-	Active	NO
26	U74900DN2009PLC000303	ALOK H AND A LIMITED	Director	12-10-09	12-10-09	-	Active	NO
27	U45201MH2006PTC165536	KESHAM DEVELOPERS AND INFOTECH PRIVATE LIMITED	Director	15-09-10	18-11-09	-	Active	NO
28	U67120MH2006PTC159739	SPRINGDALE INFORMATION AND TECHNOLOGIES PRIVATE LIMITED	Director	15-09-10	18-11-09	-	Active	NO
29	U17120MH1972GAT016028	ASSOCIATION OF SYNTHETIC FIBRE INDUSTRY	Nominee director	17-05-10	17-05-10	-	Active	NO

Name :

Mr. Rakesh Vishwanath Kapoor

Designation :

Director*

Address :

Plot No.4, Flat No.104, Sector 23, IFCI Apartments, Dwarka, New Delhi-110075, Delhi, India

Date of Birth/Age :

23.07.1955

Date of Appointment :

31.01.2006

DIN No :

00015358

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	U01211UP1994PLC016502	HIND AGRO INDUSTRIES LIMITED	Nominee director	29-08-03	29-08-03	23-03-07	Active	NO
2	U73100DL1990PLC041486	BIOTECH CONSORTIUM INDIA LIMITED	Nominee director	29-06-04	29-06-04	-	Active	NO
3	L74899DL1973PLC006667	HIND INDUSTRIES LIMITED	Nominee director	16-08-04	16-08-04	28-07-07	Active	NO
4	U17117HP2000PLC026391	GPI TEXTILES LTD	Nominee director	29-11-04	29-11-04	22-05-07	Active	NO
5	L17110DN1986PLC000334	ALOK INDUSTRIES LIMITED	Nominee director	31-01-06	31-01-06	29-04-11	Active	NO
6	U74899DL1995PLC074649	IFCI FACTORS LIMITED	Managing director	18-07-08	23-06-06	-	Active	NO
7	U85110KA1995PTC018868	JINDAL PRAXAIR OXYGEN COMPANY PRIVATE LIMITED	Nominee director	30-09-08	30-06-08	03-09-10	Active	NO
8	U93090MH2006NPL163531	FACTORS ASSOCIATION OF INDIA (U/S. 25)	Nominee director	21-01-09	21-01-09	-	Active	NO
9	L65910DL1989PLC034812	TOURISM FINANCE CORPORATION OF INDIA LIMITED	Director	18-05-11	18-05-11	-	Active	NO

Name :

Mr. Ashok Girdharidas Rajani

Designation :

Director

Address :

101/102, Read Rose Apartments, Pochkhanwala, Road, Mumbai-400018, Maharashtra, India

Date of Birth/Age :

15.01.1953

Date of Appointment :

27.05.1993

DIN No :

00267748

.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	L17110DN1986PLC000334	ALOK INDUSTRIES LIMITED	Director	27-05-93	27-05-93	-	Active	NO
2	U74899DL1978NPL008877	APPAREL EXPORT PROMOTION COUNCIL.	Director	26-11-94	26-11-94	-	Active	NO
3	U67120MH1983PTC012935	FLAIRE APPAREL INDUSTRIES PRIVATE LIMITED	Director	21-06-96	21-06-96	-	Dormant	NO
4	U25209MH1992PTC069803	VISION APPAREL PRIVATE LIMITED	Director	28-11-98	28-11-98	-	Active	NO

Name :

Mr. Kandarp Ratanchand Modi

Designation :

Director

Address :

901, Pushpanjali Apartments, Old Prabhadevi Road, Mumbai-400025, Maharashtra, India

Date of Birth/Age :

18.05.1942

Date of Appointment :

27.05.1994

DIN No :

00261506

.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	L74999MH1989PLC052384	ROLTA INDIA LIMITED	Director	14-11-89	14-11-89	-	Active	NO
2	L17110DN1986PLC000334	ALOK INDUSTRIES LIMITED	Director	10-11-94	10-11-94	-	Active	NO

Name :

Mr. Asit Baran Dasgupta

Designation :

Director

Address :

CL-92, 1^st Floor, Sector-II, Salt Lake, Kolkata-700091, West Bengal, India

Date of Birth/Age :

01.01.1941

Date of Appointment :

30.12.2008

DIN No :

02476594

Name :

Mr. Chandrakumar Govindram Bubna

Designation :

Whole Time Director

Address :

124/5, Krishna Kunj, Sainik Farm, Central Avenue, New Delhi-110062, Delhi, India

Date of Birth/Age :

15.01.1953

Date of Appointment :

27.05.1993

DIN No :

0011031

Name :

Mr. Korath Jacob Punnathara

Designation :

Director *

Address :

House No.29, Rajalakshmi, Nagar, Pattom, Thiruvanathapuram, Kerla-695004, Tamil Nadu, India

Date of Birth/Age :

09.06.1944

Date of Appointment :

29.04.2003

DIN No :

01385907

Name :

Mr. Ramdas Janardhan Kamath

Designation :

Director *

Address :

Leela, 707, 12^th Cross, 7^th Block, Jaya Nagar, Banglore-560082, Karnataka, India

Date of Birth/Age :

28.04.1941

Date of Appointment :

21.05.2005

Name :

Timothy Charles William Ingram Stanley

Designation :

Director

Address :

6, Ranelagn Avenue, London, SW63PJ, United Kingdom

Date of Birth/Age :

18.06.1947

Date of Appointment :

29.07.2005

DIN No :

01430613

Name :

Mr. Hiroo Suresh Advani

Designation :

Director

Address :

403, Shivala, Sobani Road, Off Cuffe Parade, Colaba, Mumbai-400005, Maharashtra, India

Date of Birth/Age :

04.03.1945

Date of Appointment :

19.04.2006

DIN No :

00265233

.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	U72200AP1974PLC001734	IND-BARATH COMMODITIES LIMITED	Nominee director	22-07-02	22-07-02	-	Active	NO
2	L17110DN1986PLC000334	ALOK INDUSTRIES LIMITED	Nominee director	19-04-06	19-04-06	29-10-09	Active	NO
3	U55101PN2003PLC018217	SAHIL RESORTS AND SPA INDIA LIMITED.	Nominee director	08-08-07	08-08-07	29-04-11	Active	NO
4	U28931MH1953PTC018405	VIDYUT METALLICS PRIVATE LIMITED	Nominee director	01-10-07	01-10-07	21-09-10	Active	NO

Name :

Mr. Keshav Dattaram Hodavdekar

Designation :

Director *

Address :

A-163, Twin Towers, Prabhadevi, Mumbai-400025, Mahrashtra, India

Date of Birth/Age :

18.03.1951

Date of Appointment :

08.09.2008

DIN No :

00406556

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	L27109PN1999PLC016417	ISMT LIMITED	Nominee director	21-06-03	21-06-03	29-09-08	Active	NO
2	U74999PN1946PLC005181	THE WESTERN INDIA TRUSTEE AND EXECUTOR COMPANY LIMITED	Director	29-09-07	14-02-07	-	Amalgamated	NO
3	L17110DN1986PLC000334	ALOK INDUSTRIES LIMITED	Nominee director	08-09-08	08-09-08	04-07-11	Active	NO
4	L32109MH1994PLC083391	ZICOM ELECTRONIC SECURITY SYSTEMS LIMITED	Director	15-09-11	04-08-11	-	Active	NO
5	U74120MH2010PTC209454	ASSET RESOLUTION SERVICES INDIA PRIVATE LIMITED	Additional director	08-09-11	08-09-11	-	Active	NO
6	U15540MH1997PTC222401	INNOVAMEDIA PUBLICATIONS LIMITED	Additional director	08-09-11	08-09-11	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Gopal Hariharan Kadayam
Designation :	Secretary
Address :	C-3, Nav Pramanu, CHS, W. T. Patil Marg, Chembur, Mumbai-400071, Maharashtra, India
Date of Birth/Age :	31.01.1966
Date of Appointment :	28.07.1994
PAN No :	ADLPG4276G
Name :	Mr. Sunil O. Khandelwal
Designation :	Chief Financial Officer

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares	Total Shareholding as a % of total No. of Shares
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	64183016	8.15
Bodies Corporate	171085088	21.72
Sub Total	235906284	29.95
Total shareholding of Promoter and Promoter Group (A)	231376351	29.37
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	1160200	0.15
Financial Institutions / Banks	90939945	11.54
Foreign Institutional Investors	133940050	17.00
Sub Total	226040195	28.69
(2) Non-Institutions
Bodies Corporate	67601425	8.58
Individuals
Individual shareholders holding nominal share capital up to Rs. 0.100 million	129914135	16.49
Individual shareholders holding nominal share capital in excess of Rs. 0.100 million	70733727	8.98
Any Others (Specify)	57588591	7.31
Clearing Members	6634182	0.84
Market Maker	1119490	0.14
Non Resident Indians	7148003	0.91
Overseas Corporate Bodies	3000	--
Foreign Corporate Bodies	42638568	5.41
Trusts	45348	0.01
Sub Total	325837878	41.36
Total Public shareholding (B)	551878073	70.05
Total (A)+(B)
(C) Shares held by Custodians and against which Depository Receipts have been issued	--	--
Total (A)+(B)+(C)	787784357	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing of cotton and viscose / blended grey and processed fabrics and 100% cotton knitted fabrics and intermingled yarn.

Products :

Item Code No. (ITC CODE)	Products Description
5208	Woven Fabrics of Cotton Mixture
5406	Man Made Filament Yarn (Other Than Sewing Thread)
6001	Pile Fabric Including Knitted or Crochetted
6002	Other Knitted or Crocheted Fabric

GENERAL INFORMATION

No. of Employees :

Information not divulged by management

Bankers :

· Allahabad Bank

· Andhra Bank

· Axis Bank Limited

· Bank of Baroda

· Bank of India

· Bank of Maharashtra

· Canara Bank

· Central Bank of India

· Corporation Bank

· Dena Bank

· Export Import Bank of India

· Indian Bank

· IDBI Bank Limited

· ING Vysya Bank Limited

· Oriental Bank Of Commerce

· Punjab National Bank

· Standard Chartered Bank.

· State Bank of Bikaner & Jaipur

· State Bank of Hyderabad

· State Bank of India

· State Bank of Mysore

· State Bank of Patiala

· State Bank of Travancore

· Syndicate Bank

· The Jammu & Kashmir Bank Limited

· The Federal Bank Limited

· The Karur Vysya Bank Limited

· UCO Bank

· United Bank Of India

· Vijaya Bank

Facilities :

Secured Loans

As on 31.03.2011

(Rs. in Millions)

As on 31.03.2010

(Rs. in Millions)

Debentures

11.50% Redeemable Non Convertible Debenture

2000.000

0.000

12.50% Non Redeemable Non Convertible debentures

2000.000

0.000

11.00% Redeemable Non Convertible Debenture

0.000

3000.000

10.75% Redeemable Non Convertible Debentures

1000.000

0.000

8.00% Redeemable Non Convertible Debentures

2500.000

1000.000

7.30 % Redeemable Non Convertible Debentures

0.000

5000.000

b. Term Loan

1) From Financials Institution

Rupee Loans

1589.100

1061.900

Foreign Currency Loans

2486.500

1842.500

2) From Banks

Rupee Loans

61464.700

53951.300

Foreign Currency Loans

5455.400

6530.000

c. From Banks on cash credit accounts, working Capital Demand Loans Etc.

8689.600

8437.800

d. Loans under Hire/ Purchase/ Lease Arrangement

78.700

43.100

Total

87264.000

80866.600

Note:

1. Debentures are secured by:

a) Debentures redeemed during the year

PARTICULARS	Nos	Amount (Rs. In Millions)	Date of redemption
8.00% Redeemable Non convertible Debentures of Rs. 1000 millions each	1000	1000.000	06.07.2011
8.00% Redeemable Non convertible Debentures of Rs. 1000 millions each	750	750.000	12.07.2011
8.00% Redeemable Non convertible Debentures of Rs. 1000 millions each	750	750.000	19.07.2011
10.75% Redeemable Non convertible Debentures of Rs. 1.000 millions each	333	333.000	20.10.2016
10.75% Redeemable Non convertible Debentures of Rs. 1.000 millions each	333	333.000	20.10.2017
10.75% Redeemable Non convertible Debentures of Rs. 1.000 millions each	334	334.000	20.10.1918
11.50% Redeemable Non convertible Debentures of Rs. 1.000 millions each	700	700.000	28.06.2014
11.50% Redeemable Non convertible Debentures of Rs. 1.000 millions each	700	700.000	28.06.2015
11.50% Redeemable Non convertible Debentures of Rs. 1.000 millions each	600	600.000	28.06.2016
12.50% Redeemable Non convertible Debentures of Rs. 1.000 millions each	667	667.000	03.03.2015
12.50% Redeemable Non convertible Debentures of Rs. 1.000 millions each	667	667.000	03.03.2016
12.50% Redeemable Non convertible Debentures of Rs. 1.000 millions each	666	666.000	03.03.2017
TOTAL		7500.000

b) All the debentures in a) above are secured by pari passu charge on the immovable property situated at Mouje Irana, Taluka Kadi, District Mehsana in the state of Gujarat

c) The debentures of Rs.5000.000 millions in a) above are secured by subservient charge on fixed and current assets of the Company (excluding Land and Building)

2 Term loans are secured as under :

a) Term loans from financial institutions and from banks (Including foreign currency loans) to the extent of Rs. 1069.200 millions (previous year 1393.800 millions) and Rs.24929.900 millions (previous year Rs. 27702.400 millions) respectively, are secured by

(i) a pari passu first charge created/to be created on all present and future movable and immovable assets of the company subject to exclusive charges created/to be created on specific fixed assets in favour of specified lenders.

(ii) a charge created/ to be created on all current assets of the company subject to a prior charge on such current assets created/to be created in favour of the company's bankers towards working capital requirements and (iii) the personal guarantees of three promoter directors.

b) Term loan from banks to the extent of Rs.6476.600 millions (previous year Rs. 2597.700 millions) is secured by

(i) an exclusive charge created on specific assets financed by them and (ii) the personal guarantees of three promoter directors.

c) Term loans from the Banks and Financial Institutions to the extent of Rs.1189.700 millions (previous year Rs. 2041.900 millions)

and Rs.1890.000 millions (previous year Rs. 382.200 millions) respectively, are secured by (i) subservient charge on all movable

assets of the Company present and future subject to prior charge on specific movable assets in favour of the

company’s term lenders and towards working capital requirements (ii) the personal guarantee of three Promoter

Directors of the Company.

d) Term loans from the Banks to the extent of Rs.95.800 millions (previous year Rs. 1320.000 millions) are secured by (i) subservient

charge on all assets of the Company excluding Land and Building (ii) Pledge of company's investment in a subsidiary

viz. Alok Industries International Limited (ii) the personal guarantee of three Promoter Directors of the Company.

e) Term loan from the Bank to the extent of Rs.342.281 millions (previous year Rs. 2,8007.200 millions), are secured by subservient

charge on all present and future moveable fixed assets, stocks and receivables of the Company subject to prior

charge in favour of the company’s term lenders and working capital bankers.

f) Term loan from Financial Institution of Rs.11.164 millions (previous year Rs. 1128.500 millions) is secured by (i) subservient

charge on all the present and future moveable fixed assets of the company except land and building

3 Working Capital limits from banks are secured by (i) hypothecation of Company’s current assets (ii) second /subservient

charge created / to be created on the fixed assets of the Company (iii) immovable properties belonging to the Company

/ Guarantors and (iv) the personal guarantees of three promoter directors of the Company.

4 Vehicle loans are secured by vehicles under hypothecation with banks against such loans taken.

UNSECURED LOANS

As on 31.03.2011

(Rs. in Millions)

As on 31.03.2010

(Rs. in Millions)

a. Term Loan

1) From Financials Institution

Rupee Loans

8149.500

1930.000

Foreign Currency Loans

1122.200

1228.100

b. 475 (previous year 475) 1% Foreign Currency Bonds (FCCBs)

0.000

1072.100

Total

9271.700

4230.200

Notes :

Term Loan from banks to the extent of Rs. 400.000 millions (Previous year Rs. 1149.900 millions) are secured by Personal Guarantee of three Promoter Directors.

Banking Relations :

--

Statutory Auditors :

Name 1:

Gandhi and Parekh

Chartered Accountant

Address :

6, Saraswati Darshan, 2^nd Floor, Opp. New Era Cinema, S. V. Road, Malad (W), Mumbai-400064, Maharashtra, India

Name 2:

Deloitte Haskins and Sells

Chartered Accountant

Internal Auditors :

· Bhandarkar and Company

Chartered Accountants

· Devdhar Joglekar and Srinivasan

Chartered Accountants

· N.T. Jain and Company

Chartered Accountants

· Shah Gupta and Company

Chartered Accountants

· T.R. Chadha and Company

Chartered Accountants

Legal Advisors and Statutory :

Kanga and Company

Subsidiaries :

· Alok Denims (India) Private Limited

· Gogri Properties Private Limited

· Alok Finance Private Limited

· Green Park Enterprises

· Alok Knit Exports Limited

· Jiwrajka Associates Private Limited

· Alok Textile Traders

· Jiwrajka Investment Private Limited

· Ashok B. Jiwrajka (HUF)

· Niraj Realtors and Shares Private Limited

· Ashok Realtors Private Limited

· Nirvan Exports

· Buds Clothing Co.

· Nirvan Holdings Private Limited

· D. Surendra and Co.

· Pramatex Enterprises

· Dilip B. Jiwrajka (HUF)

· Pramita Creation Private Limited

· Grabal Alok Impex Limited

· Surendra B. Jiwrajka (HUF)

· Grabal Alok International Limited

· Trumphant Victory Holdings Limited

· Alok Inc. Alok Infrastructure Limited

· Alok Industries International Limited

· Alok Apparels Private Limited

· Alok Retail (India) Limited (Formerly known as Alok Homes and Apparel Private Limited)

· Alok New City Infratex Private Limited

· Alok Land Holdings Private Limited

· Alok Realtors Private Limited

· Alok Aurangabad Infratex Private Limited

· Alok HB Hotels Private Limited

· Alok H and A Limited Alok HB Properties Private Limited

· Alok International, Inc.

· Springdale Information and Technologies Private Limited

· Alok European Retail, s.r.o.

· Kesham Developers and Infotech Private Limited

· Mileta, a.s.

·

Joint Venture:

· Aurangabad Textiles and Apparel Parks Limited

· New City Of Bombay Mfg. Mills Limited

·

Associates :

· Grabal Alok (UK) Limited (Formerly known as Hamsard 2353 Limited)

· Alspun Infrastructure Limited

· Ashford Infotech Private Limited

· Nirvan Builders Private Limited

· Next Creation Holdings LLC

CAPITAL STRUCTURE

As On: 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
900000000	Equity Shares	Rs.10/- each	Rs. 9000.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
787784357	Equity Shares	Rs.10/- each	Rs.7878.000 Millions
	Less: Call in arrears		Rs.0.100 Millions
	Total		Rs.7877.900 Millions

NOTES:

a) During the year ended 31 March 2010, 59,08,23,309 equity shares are issued as under:

i] 40,87,23,061 Equity Shares of Rs.10/- are issued at a premium aggregating to Rs. 408.700 millions on Rights basis in the ratio of 83 Rights Equity Shares for every 40 Equity Shares held.

ii] 18,21,00,248 Equity Shares of Rs.10/- issued at a premium aggregating to Rs. 2425.600 millions in Qualified Institutional Placements (QIP).

b) Of the above shares :

i] 7,45,396 equity shares were allotted as Bonus shares by way of capitalization of General Reserve.

ii] 62,550 equity shares being forfeited shares were reissued during 2001.

.

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		7877.900	7877.900	1969.700
2] Share Application Money		0.000	0.000	1375.000
3] Share Warrants		0.000	0.000	102.000
3] Reserves & Surplus		23098.000	19284.000	14103.900
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		30975.900	27161.900	17550.600
LOAN FUNDS
1] Secured Loans		87264.000	80866.600	62562.400
2] Unsecured Loans		9271.700	4230.200	3401.100
TOTAL BORROWING		96535.700	85096.800	65963.500
DEFERRED TAX LIABILITIES		5076.600	4069.800	3079.700
FOREIGN CURRENCY MONITORY ITEM TRANSLATION DIFFERENCE ACCOUNT		2.200	0.000	0.000
TOTAL		132590.400	116328.500	86593.800
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		74272.100	62058.600	38255.900
Capital work-in-progress		10612.000	9392.500	21582.700
INVESTMENT		1671.800	2296.900	4785.800
DEFERREX TAX ASSETS		0.000	0.000	0.000
FOREIGN CURRENCY TRANSLATION MONETARY ACCOUNTS		0.000	1.700	112.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	20026.200	14744.100	9438.400
	Sundry Debtors	17402.000	11012.300	8841.900
	Cash & Bank Balances	11412.100	13902.900	3449.500
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	7275.200	8359.500	5129.500
Total Current Assets		56115.500	48018.800	26859.300
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	6228.400	3799.100	3673.200
	Other Current Liabilities	3070.000	1090.200	1040.800
	Provisions	782.600	550.700	287.900
Total Current Liabilities		10081.000	5440.000	5001.900
Net Current Assets		46034.500	42578.800	21857.400
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		132590.400	116328.500	86593.800

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	63884.300	43111.700	29769.200
		Other Income	64.400	640.200	208.200
		TOTAL (A)	63948.700	43751.900	29977.400
Less	EXPENSES
		Purchases of traded goods	3426.200	3984.600	1052.600
		Manufacturing and other expenses	45184.500	30380.700	24555.400
		Increase In Stock of Finished Goods and Process Stocks	(2225.500)	(3338.200)	(3856.700)
		TOTAL (B)	46385.200	31027.100	21751.300
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		17563.500	12724.800	8226.100
Less	FINANCIAL EXPENSES (D)		6543.700	5350.800	3041.200
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		11019.800	7374.000	5184.900
Less/ Add	DEPRECIATION/ AMORTISATION (F)		5187.900	3626.100	2335.000
	PROFIT BEFORE TAX (E-F) (G)		5831.900	3747.900	2849.900
Less	TAX (H)		3358.500	1274.500	966.200
	PROFIT AFTER TAX (G-H) (I)		2473.400	2473.400	1883.700
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		1809.100	2766.300	2962.000
Add	Excess Short Provision of Dividend		0.000	0.000	1.700
Less	APPROPRIATIONS
		Transfer to General Reserve	250.000	200.000	0.000
		Transfer to Debenture Redemption Reserves	(3843.000)	3001.000	1908.300
		Dividend	196.900	196.900	147.700
		Tax on Dividend	32.700	32.700	25.100
	BALANCE CARRIED TO THE B/S		9216.100	1809.100	2766.300
	EARNINGS IN FOREIGN CURRENCY
		FOB Value of Exports	20323.400	14370.600	9724.800
		Interest Received on Fixed Deposits	0.000	74.500	25.100
	TOTAL EARNINGS		20323.400	14445.100	9749.900
	IMPORTS
	Raw Materials		3993.300	5054.300	1514.200
	Stores & Spares		473.100	772.500	341.400
	Capital Goods		9395.500	3175.600	5848.700
	TOTAL IMPORTS		13861.900	9002.400	7704.300
	Earnings Per Share (Rs.)
	- Basic			4.57	8.85
	- Diluted			4.57	7.74

QUARTERLY RESULTS

PARTICULARS	30.06.2011 1^st Quarter
Type
Sales Turnover	16448.900
Total Expenditure	11926.700
PBIDT (Excl OI)	4522.200
Other Income	7.000
Operating Profit	4529.200
Interest	2004.400
Exceptional Items	0.000
PBDT	2524.800
Depreciation	1649.700
Profit Before Tax	875.100
Tax	297.400
Reported PAT	577.700
Extraordinary Items	0.000
Prior Period Expenses	0.000
Other Adjustments	0.000
Net Profit	577.700

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	9.11	5.65	6.28
Net Profit Margin (PBT/Sales)	(%)	9.12	8.69	9.57
Return on Total Assets (PBT/Total Assets}	(%)	4.47	3.40	4.38
Return on Investment (ROI) (PBT/Networth)		0.18	0.14	0.16
Debt Equity Ratio (Total Liability/Networth)		3.44	5.14	4.07
Current Ratio (Current Asset/Current Liability)		5.56	8.83	5.37

LOCAL AGENCY FURTHER INFORMATION

PERFORMANCE

During the financial year, the Company sales increased by 48.18% to Rs. 63884.300 millions and achieved profit after tax of Rs. 4043.600 millions, an increase of 68.48 % over the previous year. The exports of the Company for the year, including incentives, increased by 42.24% to Rs. 22174.300 millions. All the divisions of the company recorded growth both in domestic and export sales.

MANAGEMENT DISCUSSION AND ANALYSIS

ECONOMIC OVERVIEW

WORLD

Economic activity in most developing countries is back on a high growth momentum. Supported by resurgence in international and domestic financial flows and higher commodity prices, most of the spare capacity in developing countries that was created by the crisis has been reabsorbed, and developing countries have regained trend growth rates close to those observed in the pre-crisis period. Chart A shows that economic output growth in emerging developing economies improved from 2.7% in calendar year (CY) 2009 to 7.3% in CY2010.

In contrast, the recovery in many high income countries (and several economies in developing Europe and Central Asia) has not been strong enough to make major inroads into high unemployment and spare capacity. Prospects in these economies, many of which were at the centre of the financial boom and bust, continue to be weighed down by banking sector restructuring, high consumer debt and a right-sizing of economic sectors that grew unsustainably large during the boom period. Having said so, driven primarily by resurgence in the world’s largest economy – USA – advanced economies recovered from a 3.4% drop in economic output in CY2009 to a 3% growth in CY2010. Consequently, global economic output increased by 5% in CY2010 against a drop of – 0.5% in CY2009.

The robust recovery in developing countries is even more remarkable because it mainly reflects an expansion of their internal markets. Developing countries are not just leading the recovery. Increasingly they are an important source of stability, with many of the risks to global growth centered in high-income countries and reflecting as yet unresolved imbalances generated by the boom period. Very low policy-induced interest rates in high – income countries plus better growth prospects in developing countries prompted a strong recovery in capital fl owes, mainly to middle-income countries. Overall net private capital fl owes to developing countries expanded 44% in CY2010, but remain well below record 2007 levels. For most countries, the increase in fl owes was beneficial, helping to finance growth enhancing investment.

Strong growth of domestic demand in developing countries will continue to lead the world economy. Developing countries domestic demand is playing a major role in the recovery, representing 46% of global growth in 2010.

While, overall, indicators are positive, there are some concerns with the global economy as well, which in the short-run could de-rail the recovery to differing degrees. The market concerns over debt sustainability in Europe continue to escalate. Continued very low interest rates in high income countries once again prompt large and volatile fl owes of capital toward developing countries that contribute to destabilizing movements in exchange rates, commodity prices, and asset prices.

Commodities prices, especially of food and oil have increased sharply in some poor countries; and if international prices continue to rise, affordability issues and poverty impacts could intensify.

Chart B shows that on average both non-oil commodity and oil prices increased by over 27% in CY2010, while they have declined in CY2009.

INDIA

The Indian economy continued to grow appreciably – recording 8.5% growth in 2010-11 on the back of 8% growth in 2009-10. Chart C shows the quarterly growth since Q1 2008-09. It is apparent that there has been steady growth at well over 8% since Q4, 2009-10. And, this trend had continued through the first 3 quarters of 2010-11. However, there has been a slight slowdown in the fourth quarter.

The slowdown is a reflection of certain uncertainties prevailing in the Indian economy. First, there is high rate of inflation. Much of this inflation is driven by high prices of food, which being an essential commodity has curbed general consumption spending in the country. In the process, demand has reduced affecting economic growth.

Second, there is a concern with rising rates of interest. In order to curb inflation rates from spiraling upward, the Reserve Bank of India (RBI) has tightened monetary policies. The resultant reduction in money supply has caused an increase in interest rates. On the consumer front, such interest rate increase affect automobile and housing purchases, as most of it is done through credit. These are two important customer segments for AIS. Such high rates of inflation have a negative impact on investments. And, a slowdown in investments at the macro-level may lead to lower economic growth in the future. Chart D shows that WPI based inflation has remained at levels over 8% for most of the period since March 2010. And, in line with this increase the benchmark reverse repo rate has increased steadily over the period.

TEXTILES, CLOTHING AND FIBER INDUSTRY

GLOBAL DEVELOPMENTS

World consumption of textile fibers increased in the past two years and hit record levels in CY2010. A shortfall of cotton saw a sharp jump in cotton prices in 2010. After a 7% decline in 2008 in the aftermath of the global economic crisis, world fiber consumption increased by 4% in CY 009 and by 5% in CY2010, according to data from the European Manmade Fiber Association (CIRFS), the International Wool Textile Organization (IWTO) and the International Cotton Advisory Committee (ICAC). Estimates suggest that world fiber consumption was 75,100 million kilograms (mkg) in 2010, which is 2,000 mkg above the pre-crisis levels of CY2007.

While in CY2009, growth was mainly driven by a 9% increase in consumption of cotton, in 2010, cotton consumption rose by only 3% as it was replaced by polyester staples when cotton prices surged upwards rapidly. In fact, in CY2010, growth was driven by synthetic fibers – synthetic staple fiber consumption increased by 6% to 16,600 mkg, while synthetic filament fiber consumption increased by 8% to 28,200 mkg.

The two leading importers of apparel and textiles – USA and EU – witnessed growth in imports. Chart E shows that the imports of textile and apparel products to the US increased from US$ 81 bn in 2009 to US$ 93 bn in 2010 – growth of 15%, while in the EU imports increased by 6.6% from US$ 215 bn in 2009 to US$ 229 bn in 2010.

On the supply and production front, there were different trends for various textile fibers in CY2010. Different production decisions were responses to the cotton price upsurge and the inevitable substitution of cotton by cheaper polyester staples. Cotton prices were expected to increase in 2010-11. According to the International Cotton Advisory Committee (ICAC), world cotton production had declined by 7% in 2009-10 with drop in production in China and the US – two of the world’s three largest cotton producing countries. The global polyester industry, on the other hand, has over capacity with significant investments in

China in the recent past. However, the sharp rise in cotton prices seen in 2010 resulted in garment manufacturers substituting cotton with polyester in their fabrics, in particular in shirt fabrics. As a result, the increased polyester production was absorbed by this higher demand. In contrast to the increased production of polyester, world acrylic fiber production was held back in CY2010 by a shortage of acrylonitrile (the raw material). This restricted production of acrylic fiber in spite of very strong demand.

The demand supply situation is well reflected in the price trends. The ‘Cot Look A’ index, which is the world cotton price indicator, increased by 120% in 2010, hitting a record 175.7 US cents/pound (387 USc/kg) in mid – December 2010. Acrylic fiber prices lifted in response to the higher demand but tight supplies. Polyester prices also rose, but the extent was limited by increased production and excess production capacity.

Clearly, with the global economic recovery, demand improved for garments and textiles. However, supply side constraints are the lower end of the value chain in key fiber inputs like cotton and acrylic resulted in severe margin pressures for industry players in the higher end of the value chain who produce fabric and garments.

INDIA

The Indian textiles and apparel market, both domestic and exports, continues to grow. In 2010, the total Indian textiles and apparel market was estimated to be around Rs. 3680000.000 millions (US$ 78 bn) and is estimated to grow at a CAGR of 11% to reach Rs. 10320000.000 millions (US$ 220 bn) by 2020. Within this industry the domestic apparel industry is growing by 10%, while home textiles demand is growing by around 12%.

Cotton yarn, which accounts for 74% of total yarn production, grew by 12%, while blended yarn grew by 11% and non cotton yarn by 9% in 2010-11. In terms of fabric, cotton based cloth, which accounts for 51% of total fabric production grew by 7%, blended cloth by 5%, while non-cotton cloth reduced by 3% in the first 10 months of 2010-11.

Apart from catering to growing domestic demand, exports started picking up since August 2010 after a slight blip in the first quarter of 2010-11. Over 60% of the country’s exports are to USA and the EU. India’s exports of Textiles and Apparel products, specifically to US has increased by 19% to Rs. 220540.000 millions (around US$ 4,967 mn) for 11 months ending Feb’11, compared to Jan-Feb ‘10. India’s share in the total US trade is stable at 6%. The Indian exports of textiles and apparel category to EU has also shown a positive growth. The exports have grown by 17% for the ten months ending Jan 2011 as compared to same period last year. In fact, encouraged by the impressive growth, the Government of India has increased the target for India’s textiles and apparel exports to around US$ 30 bn for 2011-12 against around US$25 bn achieved in 2010-11. Through 2010-11, and especially from January 2011 there was strengthening of fiber and yarn prices. Due to high demand and supply side constraints, there is a continuous rise in raw material prices. The average prices of cotton yarn rose by 45 % YoY in Mar ’11 to reach 207/Kg while PV yarn and PC yarn has shown 35% increase each for the same period and stands at 233/kg and 221/kg respectively. Chart F plots the data. Since then, however, there has been a downward movement in prices in Q1, 2010-11 to more sustainable levels.. The Government of India (GoI) continues to take several steps to promote the industry. Some of these include:

_ SCHEME FOR INTEGRATED TEXTILE PARKS (SITP):

40 Textile Park projects have been sanctioned by the Textile Ministry till date in various states. These Parks are planned to have facilities for spinning, sizing, text rising, weaving, processing, apparels etc. and are expected to employ approximately 0.750 millions persons. Till date four projects have been completed and production started in 24 out of 40. So far government assistance of Rs. 8826.000 millions has been provided for execution of these projects. The promoters of these textiles park projects have brought in Rs. 10000.000 millions (approx.) as their contribution.

_ TECHNOLOGY UP-GRADATION FUND SCHEME (TUFS):

Since its inception, Rs 111960.000 millions of subsidy has been released. The Union Budget for 2011-12 has provided an allocation of Rs. 29800.000 millions for the scheme. Government has also enhanced subsidy allocation for modernization of the textiles industry to Rs. 1540.400 millions from earlier sanction of Rs.80000.000 millions for the current Plan ending 2012. Of the additional Rs.74040.000 millions, Rs.19720.000 millions would be available for fresh sanctions while the remaining Rs.54320.000 millions is meant for fulfilling the committed liabilities under the TUF scheme. Some key points of the new scheme, which focuses on balanced development and forward integration, are:

_ 5% interest re-imbursements plus 10% capital subsidy for spinning units with matching capacity in weaving/knitting/ processing/garmenting

_ Reducing repayment period to 7 years with 2 years moratorium to promote financial efficiency

_ 5% interest re-imbursements plus 10% capital subsidy for establishment of new shuttle less looms

_ Interest subsidy/capital subsidy/margin money subsidy on the basic value of the machineries excluding the tax

component for the purpose of valuation

COTTON YARN EXPORTS – APPROVAL:

Ceding to the demands of the Cotton Yarn exporters, the Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce announced approval of cotton yarn exports from April 1, 2011 subject to registration of export contracts with DGFT.

FINANCIAL PERFORMANCE

Subject (‘Alok’ or ‘the Company’) is a diversified business group with millions interests in the textiles and apparel business. The primary business is its integrated textile operations, which is based in India. The stand-alone financial results reflect the performance of this business. This is the largest and the central business of the Company.

Alok has made several investments to diversify and grow related businesses. It has extended its textiles business to overseas operations by acquiring Mileta, a Czech Republic based integrated textiles player. There are investments in the retail business in India and in the United Kingdom (UK). In India, through its subsidiaries, the Company is actively developing its retail format – ‘H and A’ stores, while in UK it operates the ‘Store Twenty One’ outlets through its associate Grabal Alok Impex Limited. In addition, the Company has also made investments in the real estate business.

CONTINGENT LIABILITIES IN RESPECT OF :

Rs. In Millions

Particulars	31.03.2011	31.03.2010
A Customs duty on shortfall in export obligation in accordance with EXIM Policy (The company is hopeful of meeting the export obligation within the stipulated period)	Amount Unascertained	Amount Unascertained
B Pending Litigation	0.900	0.900
C Guarantees given by banks on behalf of the Company	246.900	439.600
D Corporate Guarantees given to bank for loans taken by Subsidiary Companies	2133.500	2127.900
E Bills discounted	2429.400	717.400

FORM 8

Corporate identity number of the company	L17110DN1986PLC000334
Name of the company	ALOK INDUSTRIES LIMITED
Address of the registered office or of the principal place of business in India of the company	17/5/1, 521/1, Village Rakholi, Saily, Silvassa, Dadar Nagar Haveli 396230, India
This form is for	Modification of charge
Type of charge	Immovable property
Particular of charge holder	Export Import Bank of India Centre One Building, 21 Floor, World Trade Centre, Cuffe Parade, Mumbai-400005, Maharashtra, India
Nature of instrument creating charge	Memorandum of Entry dated recording mortgage by way of constructive delivery of title deeds with IDBI Bank Limited, IDBI acting as an agent of Export-Import Bank of India (Exim Bank) over the immovable properties of Alok Industries Limited (the company) situate at (1) Saily-Silvassa (2) Rakholi – Silvassa (3) Vasona-Silvassa (4) Dapada-Silvassa (5) Velugam-Silvassa in the Union Territory of Dadra and Nagar Haveli,
Date of instrument Creating the charge	01.07.2010
Amount secured by the charge	Rs.400.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest Interest Rate for both the Loans is 9% p.a. with monthly rests subject to rest in terms of the respective Loan Agreements dated 09.12.2006 executed between the Company and Exim Bank. Terms of repayment The loans shall be repaid in 32 equal installments commencing from 01.04.2008 or such other dated close to that date as may be advised by Exim Bank at the time of making the first disbursement, unless the company shall repay the loans in pursuance of the respective loan agreements dated 09.12.2009. Extent and operation of the charge A charge created by way of mortgage over the company’s new immovable properties situate at (1) Saily-Silvassa (2) Rakholi – Silvassa (3) Vasona-Silvassa (4) Dapada-Silvassa (5) Velugam-Silvassa in the Union Territory of Dadra and Nagar Haveli, shall rank as first pari passu in favour of Exim Bank.
Short particulars of the property charged (Including location of the property)	1.immovable properties of the Company situate at (i) Village Saily of the Union Territory of Dadra and Nagar Haveli (ii) Village Rakholi of the Union Territory of Dadra and Nagar Haveli (iii) Village Vasona of the Union Territory of Dadra and Nagar Haveli (iv) Village Dapada of the Union Territory of Dadra and Nagar Haveli (v) Village Velugam of the Union Territory of Dadra and Nagar Haveli.
Charge identification number of the charge to be modified	10036288
Date of instrument modifying the charge	30.09.2009
Particulars of the present modification	Tem loan facilities of Rs.400.000 millions (LTWC of Rs.155.000 millions and EOU loan of Rs. 245.000 millions) are now additionally secured by mortgage over the Company’s properties situate at (1) Saily-Silvassa (2) Rakholi – Silvassa (3) Vasona-Silvassa (4) Dapada-Silvassa (5) Velugam-Silvassa in the Union Territory of Dadra and Nagar Haveli, recorded with IDBI thereby enlarging the existing charge over its entire movable fixed assets and immovable properties.

FIXED ASSESTS

· Freehold Land

· Leasehold land

· Factory Building

· Office premises

· Plant and machinery

· Computer and Peripherals

· Office equipments

· Furniture and fittings

· Vehicles

· Tools and Equipment

BUSINESS DESCRIPTION

Subject is an India-based integrated textile business company. It operates in five divisions: Cotton Yarn, Apparel Fabric, Home Textiles, Garments and Polyester Yarn. The Company provides textile solutions through its five divisions. Its products include woven fabrics of cotton, man made filament yarn and pile fabric. Its pile fabric includes long pile fabrics, terry fabrics, and knitted or crocheted fabrics. The Company exports about 35% of its products to over 70 countries, such as United States, Europe, Latin America, Asia and Africa. The Company has manufacturing units in Navi Mumbai, Vapi and Silvassa. During the fiscal year ended March 31, 2010 (fiscal 2010), the Company manufactured 192.387 million meters of woven fabric; 6,852.32 million tons of knitted fabric; 10,989.08 million tons of cotton yarn, and 106,958.80 million tons of texturised yarn. Its subsidiaries include Alok Industries International Ltd, Alok International Inc., Alok Inc. and Alok H&A Limited. For the nine months ended 31 December 2010, subject revenues increased 46% to RS41.67B. Net income increased 47% to RS2.17B. Revenue reflects an increase in income from operation and higher other income. Net income also reflects an increase in operating profit margins. The company has engaged in textile manufacturing and won GOLD trophy for highest exports of bleached dyed, yarn dyed and printed fabrics

BOARD OF DIRECTORS

Ashok B. Jiwrajka - Executive Chairman of the Board

Mr. Ashok B. Jiwrajka is Executive Chairman of the Board of Alok Industries Limited. He is a Commerce graduate with 29 years of experience in the marketing of textiles. He is responsible for the marketing and exports of the company.

Chandra Kumar Bubna - Executive Director

Mr. Chandra kumar Bubna is Executive Director of Alok Industries Limited. Mr. Bubna has over two decades of experience in textile marketing. He helps in formulating the company’s sales and marketing strategy and overseas its implementation in the Northern region of India.

Hiroo S. Advani - Director

Shri. Ashok B. Jiwrajka is Executive Chairman of the Board of Alok Industries Limited. Mr. Jiwrajka completed his schooling and college from Mumbai After a brief stint with two then textile companies, he joined the family partnership firm and went on to co-promote Alok Industries Limited in 1986 with his two brothers. Mr. Jiwrajka has a experience of over three decades in textiles. His functions as the Executive Chairman include participating in strategizing the company's growth trajectory besides overseeing the cotton yarn and home textile segment.

Chandrakumar Bubna - Executive Director - Director/Board Member

Reuters Biography (Alok Industries Limited)

Mr. Chandrakumar Bubna is Executive Director of Alok Industries Limited. He has been partnering with the promoters since 1982 and is associated with the company since May 1993 as a Board member in the capacity of an Additional Director and thereafter as Executive Director from May 1995. He is a graduate in commerce andassociated with the textile industry in the field of marketing for about four decades. He manages the Company’s marketing operations for the entire northern region and is also actively involved in the planning and execution of the Company's marketing strategies.

Maya Chakravorty - Non-Executive Independent Director, Director - Nominee of IDBI Bank Limited - Director/Board Member

Reuters Biography (Alok Industries Limited)

Smt. Maya Chakravorty is Non-Executive Independent Director, Director - Nominee of IDBI Bank Limited of Alok Industries Ltd with effect from June 23, 2011. She is B. E. (Chemical), MBA and CFA. She has experience of over two decades. She joined SAIL as Management Trainee, worked with ONGC as Asst. Executive Engineer (Production) for 3 years. She joined IDBI Bank Limited as Manager and is presently the General Manager (Treasury), where she is incharge of liquidity / fund management, resource mobilisation, statutory compliances likeCRR/ SLR,PDoperation, etc.

Timothy C.W. Ingram - Non-Executive Independent Director - Director/Board Member

Reuters Biography (Alok Industries Limited)

Mr. Timothy C. W. Ingram is Non-Executive Director of Alok Industries Limited. since 29 July 2005. He has done his Masters in Arts and Economics from Cambridge University, an MBA from INSEAD Business School and is a Fellow of the Chartered Institute of Bankers. He spent most of his career in banking (Grindlays Bank, ANZ, Abbey National) and then in 2002 became CEO of Caledonia Investments plc, a UK listed investment company. He retired from Caledonia Investments in 2010 and is now Chairman of Collins Stewart Hawkpoint plc, a UK listed investment banking and wealth management business.

K. C. Jani – Director - Director/Board Member

Surendra B. Jiwrajka - Joint Managing Director, Executive Director - Director/Board Member

Reuters Biography (Alok Industries Limited)

Shri. Surendra B. Jiwrajka is Joint Managing Director and Executive Director of Alok Industries Limited. Mr. Jiwrajka's schooling and college were completed in Mumbai. Immediately after his graduation, he joined the family partnership firm for trading in yarn and thereafter co-founded Alok Industries Limited in 1986 with his two brothers. Mr. Jiwrajka brings with him an experience of over 25 years in textiles. As the Joint Managing Director, he plays a critical role in charting the company's growth strategy, oversees the manufacturing and marketing functions of the polyester segment, domestic retail 'H AND A' and is responsible for all capital expansion projects.

Dilip B. Jiwrajka - Managing Director, Executive Director - Director/Board Member

Reuters Biography (Alok Industries Limited)

Shri. Dilip B. Jiwrajka is Managing Director and Executive Director of Alok Industries Limited Mr. Jiwrajka did his schooling and college from Mumbai and subsequently his post-graduation in Business Entrepreneurship and Management. In the early 80s, he started the business of trading in textiles mainly for the readymade garment sector. Starting with a partnership firm, he gradually copromoted Alok Industries Limited in 1986 along with his two brothers. His functions as the Managing Director include envisioning the company's growth strategy, responsibility for the apparel fabric and garment segments. He also oversees the Finance and Administration functions of the company, besides managing the operations of the overseas subsidiaries.

R. J. Kamath – Director - Director/Board Member

Rakesh Kapoor – Director - Director/Board Member

Thankom T. Mathew - Non-Executive Independent Director - Nominee of Life Insurance Corporation of India - Director/Board Member

Reuters Biography (Alok Industries Limited)

Smt. Thankom T. Mathew is Non-Executive Independent Director - Nominee of Life Insurance Corporation of India of Alok Industries Ltd., since October 2009. She is M.Sc (Chemistry) and joined LIC of India as Assistant Administrative Officer (AAO). She is presently working as Executive Director (Underwriting and Re- Insurance) with LIC of India. She has over 30 years of experience and specialises in the fields of marketing, finance, underwriting, administration and audit.

K. R. Modi - Non-Executive Independent Director - Director/Board Member

Reuters Biography (Alok Industries Limited)

Shri. K. R. Modi is Non-Executive Independent Director of Alok Industries Limited, since 10 November 1994. He is an Advocate and Solicitor by profession with over 40 years experience. His academic qualifications include a Bachelor Degree in Arts and Law. He was a Senior Partner with Messrs Kanga and Company, a reputed firm of Advocates & Solicitors in Mumbai, who act as the ompany's Legal Advisors.

M. V. Muthu - Non-Executive Independent Director, Nominee Director - IFCI Limited - Director/Board Member

Reuters Biography (Alok Industries Limited)

Shri. M.V. Muthu is Non-Executive Independent Director, Nominee Director - IFCI Limited of Alok Industries Limited, since April 2011. He has done his BSc, Sugar Technology, Programme in Investment Appraisal and Management from Havard. Mr. Muthu has experience in the manufacturing segment and also in Financial services for over three decades. He joined IFCI Ltd as Asst. Technical Officer and served there in various capacities. He retired as CEO from IFCI Limited. He was Chairman of IFCI Venture Capital. He served on Boards of ITC and Andhra Pradesh Paper Mills Limited.

K. J. Punnathara – Director - Director/Board Member

Ashok G. Rajani - Non-Executive Independent Director - Director/Board Member

Reuters Biography (Alok Industries Limited)

Shri. Ashok G. Rajani is Non-Executive Independent Director of Alok Industries Limited since 27 May 1993. He is a graduate in commerce and the Founder Chairman of the Midas Touch Group and Midas Touch Apparel Private Limited, one of the garment export companies in the country. He has experience in the field of garment manufacturing and exports. He is associated with various garment and textile organizations. He was the Chairman of the Export Promotion Committee of the Apparel Export Promotion Council and is a member on its Executive Committee. Till recently he was the President of The Clothing Manufacturers Association of India and was on the Board of Governors of The National Institute of Fashion Technology.

David Rasquinha - Non-Executive Independent Director - Nominee of Export Import Bank of India –

Director/Board Member

Reuters Biography (Alok Industries Limited)

Mr. David Rasquinha is an Non-Executive Independent Director - Nominee of Export Import Bank of India of Alok Industries Ltd., since October 2009. He holds a first class graduate degree in Economics from Bombay University. He also holds a Post Graduate qualification in Business Management from XLRI, Jamshedpur, where he was awarded a Gold Medal in Economics. He is with Export Import Bank of India since 1985, presently designated as Chief General Manager and heads the project and trade finance group. He has a wide range of exposure and experience in the fields of export credit, treasury, multilateral agency funded projects, planning and research, risk management, trade finance and project finance.

Reuters Biography (Alok Industries Limited)

Shri. Surendra B. Jiwrajka is Joint Managing Director and Executive Director of Alok Industries Limited. Mr. Jiwrajka's schooling and college were completed in Mumbai. Immediately after his graduation, he joined the family partnership firm for trading in yarn and thereafter co-founded Alok Industries Limited in 1986 with his two brothers. Mr. Jiwrajka brings with him an experience of over 25 years in textiles. As the Joint Managing Director, he plays a critical role in charting the company's growth strategy, oversees the manufacturing and marketing functions of the polyester segment, domestic retail 'H and A' and is responsible for all capital expansion projects.

Dilip B. Jiwrajka - Managing Director, Executive Director - Managing Director

Reuters Biography (Alok Industries Limited)

Shri. Dilip B. Jiwrajka is Managing Director and Executive Director of Alok Industries Limited. Mr. Jiwrajka did his schooling and college from Mumbai and subsequently his post-graduation in Business Entrepreneurship and Management. In the early 80s, he started the business of trading in textiles mainly for the readymade garment sector. Starting with a partnership firm, he gradually copromoted Alok Industries Limited in 1986 along with his two brothers. His functions as the Managing Director include envisioning the company's growth strategy, responsibility for the apparel fabric and garment segments. He also oversees the Finance and Administration functions of the company, besides managing the operations of the overseas subsidiaries

PRESS RELEASE

Accord Fintech (India)

14 October 2011

India, Oct. 14 -- Grabal Alok Impex Limited has informed BSE that pursuant to an Order dated October 14, 2011 passed by the Honble High Court of Judicature at Bombay in the Application / Company Summons for Directions filed by the Company, the Honble High Court has directed that a meeting of Equity Shareholders of the Company to be convened on November 19, 2011, for the purpose of considering, and if thought fit, approving, with or without modification, the Scheme of Amalgamation of Grabal Alok Impex Limited with Alok Industries Limited. Published by HT Syndication with permission from ACCORD FINTECH BSE.

Mint
27 September 2011

New Delhi, Sept. 27 -- Stock markets in Europe, the US and the rest of Asia rose on optimism that European officials would find a solution to confront the debt crisis in the region.

Overnight, stock markets in the US rallied after a report said a plan to leverage money from the European Financial Stability Facility was in the works. The S&P 500 jumped 2.33% on buying in stocks of financial services companies.

The positive momentum also percolated into Asian markets. The Nikkei at 8,510 is up 1.63%.

The optimism has also sent crude prices higher. Brent crude rose 0.88% to $104.85 a barrel on speculation that steps by Europe to confront the debt crisis will temper the slowdown in the region.

Back home, to build capabilities, Tata Consultancy Services is weighing acquisitions in France, Germany, Japan and the US. Despite the current global uncertainty, the company is seeing good demand for its services from retail, manufacturing and consumer product companies.

Raw material scarcity is crippling production at JSW Steel. The company has cut production at its Vijayanagar factory to 30% of capacity after the Supreme Court limited iron ore sales in Karnataka to online auctions.

Due to coal shortage, Nalco is reportedly facing a production loss of about Rs 10.000 millions per day. According to reports, the company has cut down its daily production to 1,000 tonnes against the normal rate of output at 1,200 tonnes at the Angul smelter unit in Orissa.

The much celebrated Mazagon Dock-Pipavav Defence and Offshore Engineering Co JV has been put on hold. The defence ministry, which pressed the pause button, has also decided to formulate a policy for partnerships between defence shipyards and private shipbuilders.

It is deal time for infrastructure companies. GMR Infrastructure has decided to sell a 30% stake in GMR Energy (Singapore) to Malaysian state-run oil firm Petronas. GMR Energy is developing an 800-MW plant on Jurong Island, Singapore. The plant is scheduled for commercial operations in 2013.

The government has given the green signal for transfer of equity in DLF's Pune SEZ. Private equity firm Blackstone is reported to have stuck a deal for purchase of the entire 100% stake in the SEZ. DLF holds 70% in the project.

Motilal Oswal Financial Services is looking to sell minority stakes in its asset management and investment banking businesses. According to reports, the company is in talks with global players to offload stakes in these two businesses.

GAIL is on an international hunt. According to reports, the company is in talks with at least two international energy explorers to acquire stakes in their liquefied natural gas plants. The talks are reportedly happening with Chevron and Algeria's state-run firm Sonatrach.

Maruti Suzuki is acting tough on the workers unrest. Even as the labour strike at Manesar facility entered the 29th day on Monday, the car maker has hired at least 1,400 workers in a sign that it may not soften its stand against striking workers.

Dr Reddy's Laboratories has called off an Rs 1736.000 millions deal to buy the pharmaceutical prescription portfolio of JB Chemicals and Pharmaceuticals in Russia and other former Soviet republics. The decision comes on the wake of new Russian policy requiring foreign companies to have a manufacturing presence there and seeking to reduce dependence on imports.

Finally, expect some action in Alok Industries stock. According to reports, the company's real estate arm Alok Realtors is trying hard to dispose-off a commercial building, even at a loss. The company bought the purported building four years ago for Rs 10750.000 millions.

Accord Fintech (India)

21 September 2011

India, Sept. 21 -- Indian equity indices are trading in red on a subdued note in absence of buying among investors who are reluctant to pick shares ahead of the US Federal Reserve's monetary policy meeting outcome. Local sentiments were also hurt by PMEAC chairman C Rangarajan's expectations that inflation may stay at current elevated level for coming three months and the RBI's stance on inflation depends on the inflation scenario in the coming three weeks. Market participants were seen piling up positions in Bankex, Consumer Durables and Realty while selling was witnessed in Oil and Gas, Auto and IT sector. Stocks like Godfrey Philips, Rallis India, Eicher Motors, VIP Industries, Residency Projects, Hindoostan Mills, Surana Industries, Rainbow Papers, Tree House, Esaar India and Aanjaneya Lifecare hit new high while stocks like Media Matrix, Agre Developers and Brooks Laboratories hit new low. Alok Industries is trading in green on reports that the company's promoter group entity, Alok Finance, purchased an additional 0.11% stake in the company from the open market. In other scrip specific development, Anil Dhirubhai Ambani Group Company'sReliance Infrastructure, Reliance Capital and Reliance Power were trading weak in red. GVK Power and Infrastructure was up after a block deal of 4.09 crore shares. Mobile operator Bharti Airtel and Idea Cellular rose after adding strong mobile subscribers in August 2011. Strides Arcolab marches northwards on reports that the company may sell a part of its non-specialties business. Everonn Education is locked in the upper circuit limit on the bourses today after the company said that it will sell a 12% stake to Dubai-based Varkey Group firm Gems Education. Lumax Industries was firm in green on reports that Stanley Electric is planning to acquire the 37% stake owned by Lumax's Indian promoter. K S Oils tumbled and is in red on reports that the auditors of the company have found that the company faces a possible loss of a whopping Rs 400 crore which has not been accounted for. On the global front, Asian markets were trading in green barring Hang Seng and Jakarta while the European markets were trading in red on pessimistic note. The International Monetary Fund lowered its economic outlook for the US and Europe. It lowered economic growth estimate for the European Union of 17 nations to 1.6% from the previous estimate of 2%. Back home, the NSE Nifty and BSE Sensex were trading below their psychological 5,150 and 17,100 levels, respectively. The market breadth on the BSE was positive in the ratio of 1472:1243 while, 121 scrips remained unchanged. The BSE Sensex is currently trading at 17,044.75 down by 54.53 points or 0.32% after trading as high as 17,191.12 and as low as 17,000.61. There were 11 stocks advancing against 19 declines on the index.The broader indices were trading on a positive note; the BSE Mid cap index gained 0.53% and Small cap advanced 0.47%. On the BSE sectoral space, Bankex up 0.81%, Consumer Durables up 0.62%, Realty up 0.58%, PSU up 0.47%, and Power up 0.47% were the major gainers while Oil and Gas down 1.20%, Auto down 0.69%, IT down 0.45%, Metal down 0.42% and FMCG down 0.26% were the top losers on the index.JP Associates up 2.07%, ICICI Bank up 1.76%, Coal India up 1.52%, NTPC up ½ and SBI up 0.95% were the major gainers on the Sensex, while Hindalco down by 3.00%, Maruti Suzuki down 2.30%, Hero Moto Corp down 2.28%, TCS down 1.78 and RIL down 1.76% were the major losers on the index. Meanwhile, the Prime Minister's Economic Advisory Council (PMEAC) chairman C Rangarajan expects inflation to stay at current elevated level for coming three months and the Reserve Bank of India's stance on inflation depends on the inflation scenario in the coming three weeks. C Rangarajan said "Monetary policy has a role to play even in supply-side inflation," while hinting that the RBI may hike its key rates to tame inflation, if inflation stays at current level. However, he expects inflation to come down to 7% by the end of current financial year. The headline inflation, measured by the Wholesale Price Index (WPI), have been hovering around 9% from last December and for month of August it stood at 9.78%, which is very close to two digit mark. As per the PMEAC Chairman, weak recovery in global economy and uncertainties in eurozone has raised the difficulties in restricting the current account deficit and fiscal deficit, as uncertainties in investor nations like eurozone counties and United States, will affect the capital inflow into the country. Expenditure side management is also getting difficult on account of ballooning subsidies, especially due to international oil prices, to keep the fiscal deficit at 4.6% of the GDP as targeted, PMEAC chairman said. However, adding further he said the economy had potential to grow at 9% but the short and medium term constraints, including inflation, were to be attended to realize the potential. But he stressed on the balancing growth and inflation in the domestic economy, by strict monetary and fiscal policy measures, to manage supply and demand side inflation. On the impact of slowdown in eurozone and US economy, he said that the Indian IT sector might get impacted to the extent of economic slowdown in the US and Eurozone. However, he expects that the US economy will not enter into negative growth zone. The S&P CNX Nifty is currently trading at 5,124.60, lower by 15.60 points or 0.30% after trading as high as 5,168.40 and as low as 5,109.85. There were 20 stocks advancing against 30 declines on the index.The top gainers of the Nifty were JP Associates up 1.93%, Ambuja Cement up by 1.77%, ICIC Bank up 1.73%, Siemens up 1.23% and NTPC up 1.16%.Hindalco down 3.00%, Hero MotoCorp down 2.52%, Cairn down 2.44%, Maruti down 2.29% and Reliance down 1.78% were the major losers on the index.Asian markets traded on a mixed note, Shanghai Composite surged 2.66%, KLSE Composite advanced 0.63%, Nikkei 225 gained 0.23%, Straits Times rose 0.08%, Seoul Composite surged 0.89% and Taiwan Weighted amassed 0.57%. On the other hand, Hang Seng shed 1.00% and Jakarta Composite sank 1.34%. The European markets were trading in red with, France's CAC 40 declined 0.93%, Germany's DAX slipped 1.28% and Britain'sFTSE 100 shed 0.53%. Published by HT Syndication with permission from Accord Fintech.

Accord Fintech (India)

21 September 2011

India, Sept. 21 -- Alok Industries is currently trading at Rs 18.40, up by 0.05 points or 0.27% from its previous closing of Rs 18.35 on the BSE. The scrip opened at Rs 18.40 and has touched a high and low of Rs 18.80 and Rs 18.20 respectively. So far 1215251 shares were traded on the counter. The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 35.00 on 11-Nov-2010 and a 52 week low of Rs 15.60 on 19-Aug-2011.Last one week high and low of the scrip stood at Rs 18.95 and Rs 17.95 respectively. The current market cap of the company is Rs 1445.61 crore.The promoters holding in the company stood at 29.37% while Institutions and Non-Institutions held 32.36% and 38.26% respectively.�� Alok Industries' promoter group company --Alok Finance -- have purchased additional 875825 equity shares of the company in the open market under creeping acquisition (constituting 0.11% of the paid up capital of the Company), thereby increased their holding in the paid up capital of the Company to 2.74% from 2.63%. With this acquisition, the total holding of promoters and promoters group of the company in the paid up capital of the company stands at 29.94% from 29.83%.Alok has evolved from a small trading business into India's largest integrated textiles player. It is present across various verticals of the textile value chain - from yarn manufacturing to garmenting. Alok's production facilities are at Silvassa, Vapi and Navi Mumbai. The company also has a presence in the domestic retail segment and in real estate through a wholly-owned subsidiary. Published by HT Syndication with permission from Accord Fintech.

Accord Fintech (India)

20 September 2011

India, Sept. 20 -- Alok Industries' promoter group company --Alok Finance -- have purchased additional 875825 equity shares of the company in the open market under creeping acquisition (constituting 0.11% of the paid up capital of the Company), thereby increased their holding in the paid up capital of the Company to 2.74% from 2.63%. With this acquisition, the total holding of promoters and promoters group of the company in the paid up capital of the company stands at 29.94% from 29.83%.Alok has evolved from a small trading business into India's largest integrated textiles player. It is present across various verticals of the textile value chain - from yarn manufacturing to garmenting. Alok's production facilities are at Silvassa, Vapi and Navi Mumbai. The company also has a presence in the domestic retail segment and in real estate through a wholly-owned subsidiary. Published by HT Syndication with permission from Accord Fintech.

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. 49.71
UK Pound	1	Rs. 78.08
Euro	1	Rs. 68.05

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	5
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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	YES
--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.