MIRA INFORM REPORT

Report Date :

21.10.2011

IDENTIFICATION DETAILS

Name :	CHENNAI METRO RAIL LIMITED
Registered Office :	No.7, “Harini Towers”, Conran Smith Road, Gopalapuram, Chennai-600086, Tamilnadu.
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	03.12.2007
Com. Reg. No.:	18-065596
CIN No.: [Company Identification No.]	U60100TN2007SGC065596
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	The Company is set up for implementation of Chennai Metro Rail Project.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 10000000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is a Government owned company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. Subject being a government owned company can be considered normal for business dealings at usual trade terms and conditions.

NOTES :

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

ECGC Country Risk Classification List – September 30, 2011

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

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

LOCATIONS

Registered/Corporate Office :	No.7, “Harini Towers”, Conran Smith Road, Gopalapuram, Chennai-600086, Tamilnadu, India
Tel. No.:	91-44-28430020
Fax No.:	91-44-28351401
E-Mail :	chennaimetrorail@gmail.com
Website :	www.chennaimetrorai.gov.in

DIRECTORS

(AS ON 28.09.2011)

Name :

Mr. Rajaraman Kalyanaraman

Designation :

Director

Address :

242,39^th street, 8^th sector, West K.K. Nagar , Chennai-600078, Tamilnadu, India.

Date of Birth/Age :

24.10.1963

Date of Appointment :

04.08.2010

DIN No. :

00449954

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	U14210TN1978SGC007488	Tamilnadu Minerals Limited	Director	12/6/2006	12/6/2006	5/9/2007	Active	NO
2	U93090TN1949SGC001458	Ta,ilnadu Investments Industrial Corporation	Director	5/7/2006	5/7/2006	20/08/2007	Active	NO
3	U45309TN2001PLC047979	Ticel Bio Park Limited	Director	29/08/2006	29/08/2006	5/9/2007	Active	NO
4	L24117TN1972PLC006271	Tanfac Industries Limited	Director	13/07/2007	27/10/2006	25/10/2007	Active	NO
5	U74999TN1971SGC005967	State Industries Promotion Corporation of Tamilnadu Limited	Managing director	20/06/2007	20/06/2007	28/06/2007	Active	NO
6	L32201TN1988PLC015705	Tamilnadu Telecommunication Limited	Nominee director	25/06/2007	25/06/2007	25/09/2007	Active	NO
7	U15137TN1972SGC006157	Tamilnadu Civil Supplies Corporation	Director	15/10/2007	15/10/2007	12/8/2010	Active	NO

Name :

Mr. Kandasamy Shanmugam

Designation :

Nominee Director

Address :

Tamilnadu, India.

Date of Birth/Age :

07.07.1960

Date of Appointment :

18.05.2010

DIN No :

00794191

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	U15137TN1972SGC006157	Tamilnadu Civil Supplies Corporation	Director	3/11/2007	1/2/2005	25/05/2010	Active	NO
3	U40109TN2009SGC071948	Tamilnadu Transmission Corporation Limited	Director	7/12/2010	19/05/2010	-	Active	NO
4	U40109TN2009SGC073746	Tamilnadu Generation and Distribution Corporation Limited	Director	19/05/2010	19/05/2010	-	Active	NO
5	U67190TN2009SGC073753	TNEB Limited	Director	19/05/2010	19/05/2010	-	Active	NO
6	U93090TN1983SGC010048	Tamilnadu State Marketing Corporation Limited	Director	22/05/2010	22/05/2010	-	Active	NO
7	U65993TN1965SGC005327	Tamilnadu Industrial Development Corporation Limited	Nominee director	9/6/2010	9/6/2010	-	Active	NO
8	U41000TN2008NPL069700	Adyar Poonga	Director	3/11/2010	11/6/2010	-	Active	NO
9	U65991TN1996PLC036866	Tamilnadu Urban Infrastructure Trustee Company Limited	Director	29/09/2010	28/06/2010	-	Active	NO
10	U74999TN1997PLC039523	Tidel Park Limited	Nominee director	13/09/2011	13/09/2011	-	Active	NO
11	U45209TN2007PLC064060	Tidel Park Coimbatore Limited	Director	14/09/2011	14/09/2011	-	Active	NO

Name :

Mr. Sundaradevan Nanjiah

Designation :

Director

Address :

Plot NMo.43, High Income Group Second Cross Street, Third Main Road, Nolumbur Phase II, Chennai-600037, Tamilnadu, India.

Date of Birth/Age :

02.09.1952

Date of Appointment :

20.07.2011

DIN No :

00223399

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	U74999TN1971SGC005967	State Industries Promotion Corporation of Tamilnadu Limited	Director	21/06/2011	14/09/2005	-	Active	NO
2	U65993TN1965SGC005327	Tamilnadu Industrial Development Corporation Limited	Nominee director	31/05/2011	20/09/2005	-	Active	NO
3	U01119TN2004SGC052859	Nilakkottai Food Park Limited	Director	19/05/2011	26/09/2005	-	Active	YES
	U25110TN1984PLC011066	Arasu Rubber Corporation Limited	Director	5/6/2008	5/6/2008	18/12/2008	Active	NO
5	U02001TN1974SGC006636	Tamilnadu Forest Plantation Corporation Limited	Nominee director	11/6/2008	11/6/2008	18/12/2008	Active	NO
6	U63040TN1971SGC006006	Tamilnadu Tourism Development Corporation Limited	Director	2/7/2008	2/7/2008	14/07/2009	Active	NO
7	L21012TZ1960PLC000364	Seshasayee Papers and Board Limited	Nominee director	26/07/2008	26/07/2008	28/03/2009	Active	NO
8	U41000TN2008NPL069700	Adyar Poonga	Director	30/10/2008	30/10/2008	29/12/2008	Active	NO
9	U14220TN1974SGC006668	Tamilnadu Salt Corporation Limited	Director	21/05/2011	21/05/2011	-	Active	NO
10	U40109TN2009SGC073746	Tamilnadu Generation and Distribution Corporation Limited	Nominee director	23/05/2011	23/05/2011	-	Active	NO
11	U67190TN2009SGC073753	TNEB Limited	Nominee director	23/05/2011	23/05/2011	-	Active	NO
12	L31501TN1983SGC009836	Tamilnadu Industrial Explosives Limited	Nominee director	26/05/2011	26/05/2011	-	Active	YES
13	L22121TN1979PLC007799	Tamilnadu News Print and Papers Limited	Director	15/09/2011	27/05/2011	-	Active	NO
14	L74999TZ1984PLC001456	Titan Industries Limited	Director	28/07/2011	14/06/2011	-	Active	NO
15	U74999TN1997PLC039523	Tidel Park Limited	Additional director	23/06/2011	23/06/2011	-	Active	NO
16	L93090TN1956GOI003507	Neyveli Legnite Corporation Limited	Director	12/9/2011	19/07/2011	-	Active	NO
18	L23200TN1984PLC010931	Tamilnadu Petropriducts Limited	Nominee director	29/07/2011	29/07/2011	-	Active	NO

Name :

Mr. Satish Kumar

Designation :

Nominee Director

Address :

Bunglao No.2, Metro Enclave, 41, Press Enclave Road, Pushp Vihar, Sector-7, New Delhi-110017, India.

Date of Birth/Age :

06.01.1942

Date of Appointment :

14.12.2010

DIN No :

00847145

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	U74899DL1995GOI068150	Delhi Metro Rail Corporation Limited	Director	18/06/1998	18/06/1998	-	Active	NO
2	U16286KA1994GOI016286	Bangalore Metro Rail Corporation Limited	Director	28/10/2006	28/10/2006	-	Active	YES

Name :

Mr. Sudhir Krishna

Designation :

Nominee Director

Address :

272, 13^th Cross, 5^th Main, Rajmahal Vilas Extension, Stage-II, Bangalore-560094, Karnataka, India.

Date of Birth/Age :

01.07.1954

Date of Appointment :

10.08.2011

DIN No :

01418617

Other Directorship :

.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
1	U45209KA1999SGC025497	Karnataka Road Developments Corporation Limited	Nominee director	14/02/2007	14/02/2007	20/05/2008	Active
2	U60100WB2008SGC127338	Kolkata Metro Rail Corporation Limited	Director	10/8/2011	10/8/2011	-	Active
3	U34101DL1993PLC053032	Urban Mass Transit Company Limited	Additional director	10/8/2011	10/8/2011	-	Active
5	U16286KA1994GOI016286	Bangalore Metro Rail Corporation Limited	Nominee director	10/8/2011	10/8/2011	-	Active
6	U74899DL1995GOI068150	Delhi Metro Rail Corporation Limited	Nominee director	7/9/2011	7/9/2011	-	Active

Name :

Mr. Shivdas Meena

Designation :

Nominee Director

Address :

2-632A, Second Cross Street, River View Colony, Manapakkam-600116, Tamilnadu, India,

Date of Birth/Age :

05.10.1964

Date of Appointment :

20.07.2011

DIN No :

01881010

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	U65191TN1990SGC018909	Tamilnadu Urban Finance and Infrastructure Development Corporation Limited	Director	31/03/2009	29/06/2006	21/12/2010	Active	NO
2	U93090TN1983SGC010336	Tamilnadu Medical Plant Farms and Herbal Medicines Corporation Limited	Director	18/10/2010	18/10/2010	22/08/2011	Active	NO
3	U85110TN1994SGC027939	Tamilnadu Medical Services Corporation Limited	Managing director	18/10/2010	18/10/2010	25/08/2011	Active	NO

Name :

Mr. Shailesh kumar Singh

Designation :

Nominee Director

Address :

E-27, Sector-3, HEC, P.O. Dhurwa, Ranchi-834004, Jharkhand, India.

Date of Birth/Age :

28.03.1966

Date of Appointment :

11.04.2011

DIN No :

02061623

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	U45203JH2003SGC010045	Greater Ranchi Development Agency Limited	Managing director	20/11/2007	20/11/2007	19/12/2009	Active	NO
2	U72200JH2008PLC013151	Jharkhand e-Governance Solutions & Services Limited	Director	23/09/2009	2/4/2009	20/04/2010	Active	NO
4	U60100WB2008SGC127338	Kolkata Metro Rail Corporation Limited	Director	16/05/2011	16/05/2011	-	Active	NO

Name :

Mr. Sanjeev Kumar Lohia

Designation :

Nominee Director

Address :

Flat No.301/2B, Chelmsford Road, Type V, New Delhi-110055, India.

Date of Birth/Age :

02.10.1964

Date of Appointment :

12.02.2011

DIN No :

02092958

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	U16286KA1994GOI016286	Bangalore Metro Rail Corporation Limited	Director	28/10/2006	28/10/2006	-	Active	YES
2	U34101DL1993PLC053032	Urban Mass Transit Company Limited	Director	24/09/2007	10/5/2007	-	Active	NO
3	U60100WB2008SGC127338	Kolkata Metro Rail Corporation Limited	Director	9/7/2008	9/7/2008	-	Active	NO
4	U60200DL2010PLC199264	Aiirport Export Link Services Limited	Director	18/02/2010	18/02/2010	-	Active	NO

Name :

Mrs. Sudha Krishnan

Designation :

Nominee Director

Address :

D-1/87, Satya Marg, Chanakya Puri, New Delhi-110021, India.

Date of Birth/Age :

16.11.1960

Date of Appointment :

18.11.2010

DIN No :

02885630

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	U60100WB2008SGC127338	Kolkata Metro Rail Corporation Limited	Director	9/11/2009	9/11/2009	-	Active	NO
2	U74899DL1960GOI003335	National Building Construction Corporation Limited	Nominee director	30/11/2009	30/11/2009	-	Active	NO
3	U74899DL1970GOI005276	Housing and Urban Development Corporation Limited	Director	3/12/2009	3/12/2009	-	Active	NO
4	U74899DL1953GOI002220	Hindustan Prefab Limited	Director	3/12/2009	3/12/2009	-	Active	NO

Name :

Mr. Sarankan Krishnan

Designation :

Nominee Director

Address :

K-15, Anna Nagar East, Chennai-600102, Tamilnadu, India.

Date of Birth/Age :

29.06.1967

Date of Appointment :

18.01.2011

DIN No :

03439632

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
2	U05001TN1974SGC006597	Tamilnadu Fisheries Development Corporation Limited	Director	3/7/2011	3/7/2011	-	Active	NO
3	U63040TN1971SGC006006	Tamilnadu Tourism Developments Corporation Limited	Director	12/7/2011	12/7/2011	-	Active	NO
4	U60220TN1975SGC006829	Tamilnadu State Transport Corporation (Vellupuram) Limited	Director	19/07/2011	19/07/2011	-	Active	NO
5	U65191TN1991SGC021030	Tamilnadu Power Finance and Infrastructure Developments Corporation Limited	Nominee director	20/07/2011	20/07/2011	-	Active	NO
6	U74999TN1970SGC005821	Tamilnadu Small Industries Development Corporation Limited	Nominee director	22/07/2011	22/07/2011	-	Active	NO
7	U27209TN1977SGC007291	Electronics Corp[oration of Tamilnadu Limited	Director	1/8/2011	1/8/2011	-	Active	NO
8	U65191TN1990SGC018909	Tamilnadu Urban Finance and Infrastructure Development Corporation Limited	Director	29/08/2011	29/08/2011	-	Active	NO
9	L22121TN1979PLC007799	Tamilnadu News Print and Papers Limited	Nominee director	15/09/2011	15/09/2011	-	Active	NO
10	U67190TN1996PLC036865	Tamilnadu Urban Infrastructure Financial Services Limited	Director	16/09/2011	16/09/2011	-	Active	NO
11	U65993TN2000PLC044029	Tamilnadu Water Investment Company Limited	Director appointed in casual vacancy	30/09/2011	30/09/2011	-	Active	NO

KEY EXECUTIVES

Name :	Mr. K. Prabhakharan
Designation :	Secretary
Address :	Jaya Vilas, Plot No.233/2, Sri Lakshmi Nagar, I Main Road, Sri Devi Garden Valasaravakkam, Chennai-600087, Tamilnadu, India.
Date of Birth/Age :	10.08.1958
Date of Appointment :	11.03.2009

Name :	Mr. Thiru K. Rajaraman
Designation :	Managing Director
Name :	Mr. Thiru Sundararajan
Designation :	Chief General Manager (Operations and Maintenance)
Name :	Mr. Thiru V. Somasundaram
Designation :	Chief General Manager (Constructions)
Name :	Mr. Thiru V. Carmelus
Designation :	Chief General Manager (Systems)
Name :	Mr. Thiru N. K. Kumar
Designation :	Chief General Manager (Project Finance)
Name :	Mr. Thiru S. Krishnamoorthy
Designation :	Chief General Manager (Public Relations)

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 28.09.2011)

Names of Shareholders	No. of Shares
The Governor of Tamilnadu	1887400
Kumaraswamy Gnanadesikan	100
V.L. Nagabushanam	100
M.B. Sankaravadivelu	50
P.Raghavan	50
T. Booma	50
C.R. Balaji	50
The President of India, Ministry of Urban Development, Government of India.	1887900
Thiru K. Rajaraman	100
Total	3775800

Equity Share Breakup

(AS ON 30.09.2011)

Category	Percentage
Government (Central and State)	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

The Company is set up for implementation of Chennai Metro Rail Project.

Products/Services :

Service Description	Item Code No.
CHENNAI METRO RAIL PROJECT	NIL

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• Corporation Bank
• Indian Overseas Bank

Facilities :

Unsecured Loans	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
GOI – JICA Loan – IDP - 197	1085.690	0.000
Subordinate Debt on account of Central Taxes	10.000	0.000
Loan Assistance from Government of Tamilnadu (Interest Free	8400.000	5000.000
Total	9495.690	5000.000

Banking Relations :	--
Auditors :
Name :	Soleti Associates Chartered Accountant
Address :	No.16, Agasthya Nagar, Halls Road, Kilpauk, Chennai-600010, Tamilnadu, India.
Income-tax PAN of auditor or auditor’s firm :	AABFS4108E

CAPITAL STRUCTURE

(AS ON 28.09.2010)

Authorised Capital :

No. of Shares	Type	Value	Amount
12000000	Equity Share	Rs.1000/- each	Rs.12000.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3775800	Equity Share	Rs.1000/- each	Rs.3775.800 millions

AS ON 31.03.2010)

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Share	Rs.1000/- each	Rs.1000.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Share	Rs.1000/- each	Rs.1000.000 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		1000.000	500.000	500.000
2] Share Application Money		1617.900	0.000	0.000
3] Reserves & Surplus		34.162	0.000	0.000
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		2652.062	500.000	500.000
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		9495.690	5000.000	0.000
TOTAL BORROWING		9495.690	5000.000	0.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		12147.752	5500.000	500.000
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1789.420	188.429	1.098
Capital work-in-progress		112.958	51.796	22.530
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.000	0.000	0.000
	Cash & Bank Balances	9934.023	5274.201	456.255
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	440.493	0.769	19.191
	Deposits	6.298	2.972	7.719
Total Current Assets		10374.516	5277.942	483.165
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors		21.159	7.640
	Other Current Liabilities	140.577	1.928	4.205
	Provisions		0.216	0.084
Total Current Liabilities		140.577	23.303	11.929
Net Current Assets		10240.238	5254.639	471.236
MISCELLANEOUS EXPENSES		5.136	5.136	5.136
TOTAL		12147.752	5500.000	500.000

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009
	SALES
		Sale of Tender Documents	2.415	0.142
		Interest Earned	10.518	0.606
		Other Income	0.001	0.002
		TOTAL	12.934	0.750
Less	TOTAL EXPENSES		0.000	0.000
	PROFIT BEFORE TAX		12.934	0.750
Less	TAX		3.729	0.185
	PROFIT AFTER TAX		9.205	0.565
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.646	0.081
	BALANCE CARRIED TO THE B/S		9.851	0.646
	Earnings Per Share (Rs.)		9.85	0.16

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	71.17	75.33	NA
Net Profit Margin (PBT/Sales)	(%)	535.75	528.17	NA
Return on Total Assets (PBT/Total Assets}	(%)	0.11	0.01	NA
Return on Investment (ROI) (PBT/Networth)		0.00	0.00	NA
Debt Equity Ratio (Total Liability/Networth)		3.36	10.05	0.02
Current Ratio (Current Asset/Current Liability)		73.80	226.49	40.50

LOCAL AGENCY FURTHER INFORMATION

FIXED ASSETS:

• Land
• Office Equipments
• Computers
• Vehicles
• Bycycle
• Furniture and Fittings

WEBSITE DETAILS:

The Government of Tamil Nadu created a Special Purpose Vehicle (SPV) for implementing the Chennai Metro Rail Project. This SPV named as "Chennai Metro Rail Limited" was incorporated on 03.12.2007 under the Companies Act. It has now been converted into a Joint Venture of Government of India and Government of Tamil Nadu with equal equity holding.

PRESS RELEASE (22.02.2011):

CMRL AWARDS ELECTRIFICATION CONTRACT

TO SIEMENS CONSORTIUM

Chennai Metro Rail Limited (CMRL) has awarded the contract for Power Supply and Overhead Equipments (OHE) to Siemens AG, Germany and Siemens Limited India Consortium at a cost of Rs.3050.000 millions. This contract includes design, supply, installation, testing and commissioning of complete power supply systems. The contract has been awarded on international bidding to the eligible bidder who has quoted the lowest rate.

CMRL will receive electrical power from Tamil Nadu Electricity Board for a maximum demand of 60 MVA from three 110 kV sub-stations being set up by Electricity Board at Koyambedu, Alandur and Chennai Central. Three traction sub-stations will be set up under this contract to step-down the voltage from 110 kV to 25 kV AC single phase for use for the traction purposes. 25 kV AC traction power will be supplied to train through OHE to be installed along the track. In the elevated corridor, catenary type OHE as used in Railways and in tunnels rigid contact system are proposed. CMRL has selected 25kV AC traction (in preference to 750 V DC third rail system), in view of the energy efficiency, safety and reliability.

This contract also provides setting up of three auxiliary sub-stations at Koyambedu, Alandur and Chennai Central to step down the 110 kV to 33 kV for supply of power to stations, air-conditioning systems, tunnel ventilation systems, lighting and other utilities at the stations. The sub-stations will be of gas insulated ones for higher reliability and maintenance friendly.

The 33 kV auxiliary power supply is distributed through a ring main system to all stations for auxiliary power supply loads. In the event of power failure of any receiving / traction / auxiliary sub-stations, uninterrupted power supply is ensured by feeding from adjacent receiving / traction / auxiliary sub-station for traction and other essential loads of the station. Further, each station is equipped with standby diesel generators of adequate capacity as a backup power source.

The entire power supply system can be monitored and controlled through Supervisory Control and Data Acquisition system (SCADA). The remote operation can be managed from centralized operation control centre located at Koyambedu.

Besides setting up these facilities, the contract provides for comprehensive maintenance till end of defect liability period of 2 years after the completion of the project

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.78.09
Euro	1	Rs.68.05

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	---
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		45

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.