MIRA INFORM REPORT

Report Date :

13.09.2011

IDENTIFICATION DETAILS

Name :	TATA LOCKHEED MARTIN AEROSTRUCTURES LIMITED

Formerly Known As :	TATA AEROSTRUCTURES LIMITED

Registered Office :	Bombay House, 24, Homi Mody Street, Fort, Mumbai – 400 001, Maharashtra

Country :	India

Date of Incorporation :	05.04.2010

Com. Reg. No.:	201707

Capital Investment / Paid-up Capital :	Rs.1646.945 millions

CIN No.: [Company Identification No.]	U29268MH2010PLC201707

Legal Form :	A Closely Held Public Limited Liability Company

Line of Business :	Manufacturing and Assembling of Centre Wing Box and Empennage.

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

RATING

STATUS

PROPOSED CREDIT LINE

26-40

Capability to overcome financial difficulties seems comparatively below average.

Small

Status :	New Company

Payment Behaviour :	Unknown

Litigation :	Clear

Comments :	Subject is a Joint Venture between Lockheed Martin Corporation, USA and Tata Advanced Systems Limited, India. It is a new company establishing itself gradually. Trade relations are reported as fair. Business is active. Payment terms are unknown. In view of strong holding, the company can be considered normal for business dealings at usual trade terms and conditions.

NOTES :

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

ECGC Country Risk Classification List – April 1, 2010

Country Name

Previous Rating

(31.12.2009)

Current Rating

(01.04.2010)

India

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

LOCATIONS

Registered Office :	Bombay House, 24, Homi Mody Street, Fort, Mumbai – 400 001, Maharashtra, India
Tel. No.:	Not Available
Mobile No.:	91-9246826968 (Mr. Anees Ahmed) 91-9701778282 (Mr. Sekar Iyer)
Fax No.:	Not Available
E-Mail :	srven@tataadvancedsystems.com mcanewco@gmail.com siyer@tataadvancedsystems.com aaahmed@tataadvancedsystems.com
Website :	www.tataadvancedsystems.com

Factory :	Survey No.255, Adivatla Village, Abrahim Pattan Mandal, Ranga Reddy District, Hyderabad – 501 510, Andhra Pradesh, India (Under Construction)

Branch Office :	2^nd Floor, Gowra Trinity, 1-8-371, Chiran Fort Lane, S.P. Road, Opposite USA Consulate, Begumpet, Hyderabad – 500 016, Andhra Pradesh, India
Tel. No.:	91-40-67283900/ 67283906/ 67283908

DIRECTORS

Name :

Mr. Sukaran Singh

Designation :

Director

Address :

Flat No. 4B, Sett Minar Building, Pedder Road, Opposite Jaslok Hospital, Mumbai – 400 026, Maharashtra, India

Date of Birth/Age :

14.05.1969

DIN No.:

01485745

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U32109DL1996PTC082215	TVLIVE India Private Limited	Director	25-09-96	25-09-96	Active	NO
2	U72901DL2006PTC148713	InformNet Media Private Limited	Director	09-05-06	09-05-06	Active	NO
3	U72900MH2006PLC164730	Tata Advanced Systems Limited	Director	11-07-07	28-09-06	Active	NO
4	U72900MH2006PTC163193	Strategic Energy Technology Systems Private Limited	Director	11-07-07	05-05-07	Active	NO
5	U74990MH2008PLC183426	Nova Integrated Systems Limited	Director	11-06-08	11-06-08	Active	NO
6	U74990MH2008PLC183446	Tara Aerospace Systems Limited	Director	12-06-08	12-06-08	Active	NO
7	U29119MH2008PTC187825	TASL Aerostructures Private Limited	Director	24-09-10	24-02-10	Active	NO
8	U72900MH2008PLC188713	Avana Integrated Systems Limited	Director	24-09-10	24-02-10	Active	NO
9	U29268MH2010PLC201707	Tata Lockheed Martin Aerostructures Limited	Director	05-04-10	05-04-10	Active	NO
10	U31909AP2004PTC042753	HBL Elta Avionics Systems Private Limited	Director	03-11-10	03-11-10	Active	NO

Name :

Raghavan Ramachandra Shastri

Designation :

Director

Address :

Flat No. A 61/62, Meherzin, 109 A, Wodehouse Road, Colaba, Mumbai – 400 005, Maharashtra, India

Date of Birth/Age :

26.09.1952

DIN No.:

00027418

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	U67120MH1992PLC066160	Panatone Finvest Limited	Director	30-09-98	30-09-98	21-04-09	Active	NO
2	U74140MH1988PTC049927	Aida Marketing Services Private Limited	Director	09-02-05	09-02-05	27-08-08	Active	NO
3	U51900MH1988PTC049926	Brihat Trading Private Limited	Director	09-02-05	09-02-05	27-08-08	Active	NO
4	U63040MH1988PTC049514	Malusha Travels Private Limited	Director	09-02-05	09-02-05	27-08-08	Active	NO
5	U51900MH1988PTC049518	Mohar Export Services Private Limited	Director	09-02-05	09-02-05	27-08-08	Active	NO
6	U65990MH1988PTC049513	Sarash Investments Private Limited	Director	09-02-05	09-02-05	27-08-08	Active	NO
7	U74899DL1989PTC036902	Chic Interiors Private Limited	Director	09-02-05	09-02-05	27-08-08	Active	NO
8	U63090DL1989PTC036903	Rapid Tansporters Private Limited	Director	09-02-05	09-02-05	27-08-08	Active	NO
9	U74300MH1988PTC049512	Kaygee Advertising Private Limited	Director	09-02-05	09-02-05	27-08-08	Active	NO
10	U74899DL1989PTC036900	Unnath Advertising Private Limited	Director	09-02-05	09-02-05	27-08-08	Active	NO
11	U51900MH2006PLC159776	Computational Research Laboratories Limited	Director	06-08-07	14-07-06	11-06-08	Active	NO
12	U72900MH2006PTC163193	Strategic Energy Technology Systems Private Limited	Director	20-07-06	20-07-06	20-04-10	Active	NO
13	U72900MH2006PLC164730	Tata Advanced Systems Limited	Director	19-09-06	19-09-06	29-07-09	Active	NO
14	U74999MH1922PLC001030	Ewart Investments Limited	Director	02-08-07	01-01-07	-	Active	NO
15	U80101MH2006NPL164821	Mumbai Mobile Creches (US/25)	Director	22-09-07	10-03-07	-	Active	YES
16	U45401MH2007PTC170381	Casa Decor Private Limited	Director	27-04-07	27-04-07	21-07-09	Active	NO
17	U34300PN1999PLC014564	Mubea Suspension India Limited	Director	30-07-07	08-06-07	12-01-10	Active	NO
18	U34300PN1997PLC015436	Tata Yazaki Autocomp Limited	Director	19-09-07	16-06-07	18-01-10	Active	NO
19	U93090MH2007PLC173035	Tata Industrial Services Limited	Director	13-08-07	13-08-07	-	Active	NO
20	U28910TN1997PLC047905	Sungwoo Gestamp Hitech (Chennai) Limited	Nominee director	26-03-08	26-03-08	04-02-09	Active	NO
21	U74990MH2008PLC183426	Nova Integrated Systems Limited	Director	11-06-08	11-06-08	29-07-09	Active	NO
22	U74990MH2008PLC183446	Tara Aerospace Systems Limited	Director	12-06-08	12-06-08	-	Active	NO
23	U84200MH1992PLC066138	ITEL Industries Limited	Director	25-09-08	30-06-08	-	Active	NO
24	U85100AP2008PLC060986	TBSS Healthcare TPA Services Limited	Director	11-09-08	11-09-08	18-08-09	Active	NO
25	U74999MH1953NPL009038	Trade Marks, Patents, Designs And Copyright Owners Association Of India	Director	26-09-08	26-09-08	-	Dissolved	NO
26	U74999MH1993PLC072118	Oriental Seritech Limited	Director	31-12-08	10-12-08	-	Active	NO
27	U01110MH1990PLC057600	Oriental Floratech India Limited	Director	03-09-09	17-04-09	-	Active	NO
28	U29268MH2010PLC201707	Tata Lockheed Martin Aerostructures Limited	Director	05-04-10	05-04-10	13-07-11	Active	NO
29	U99999MH1942PLC003573	Tata Housing Development Company Limited	Additional director	13-09-10	13-09-10	-	Active	NO
30	U45400MH2009PLC195605	Smart Value Homes Limited	Director	15-06-11	21-03-11	-	Active	NO

Name :

Mr. Kersi Rustom Bhagat

Designation :

Director

Address :

Peregrine, Flat 6b, 400, Veer Savarkar Marg, Prabhadevi, Mumbai – 400 025, Maharashtra, India

Date of Birth/Age :

02.11.1958

DIN No.:

00033802

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	U74300MH1982PLC027839	Taddsco Promotions Limited	Director	09-01-04	09-01-04	27-11-07	Active	NO
2	U74140MH1988PTC049927	Aida Marketing Services Private Limited	Director	09-02-05	09-02-05	-	Active	NO
3	U51900MH1988PTC049926	Brihat Trading Private Limited	Director	09-02-05	09-02-05	-	Active	NO
4	U74300MH1988PTC049512	Kaygee Advertising Private Limited	Director	09-02-05	09-02-05	-	Active	NO
5	U63040MH1988PTC049514	Malusha Travels Private Limited	Director	09-02-05	09-02-05	-	Active	NO
6	U51900MH1988PTC049518	Mohar Export Services Private Limited	Director	09-02-05	09-02-05	-	Active	NO
7	U65990MH1988PTC049513	Sarash Investments Private Limited	Director	09-02-05	09-02-05	-	Active	NO
8	U74899DL1989PTC036902	Chic Interiors Private Limited	Director	09-02-05	09-02-05	-	Active	NO
9	U74899DL1989PTC036900	Unnath Advertising Private Limited	Director	09-02-05	09-02-05	-	Active	NO
10	U63090DL1989PTC036903	Rapid Tansporters Private Limited	Director	09-02-05	09-02-05	-	Active	NO
11	U63090MH1988PTC049519	Tej Transportation Private Limited	Director	09-02-05	09-02-05	-	Active	NO
12	U45200MH1979PLC021174	Prabhadevi Properties And Trading Company Limited	Director	25-11-05	25-11-05	-	Active	NO
13	U45203MH2007PTC174776	TRIF Gandhinagar Projects Private Limited	Director	29-11-08	21-12-07	-	Active	NO
14	U45400MH2007PLC171654	TRIL Developers Limited.	Director	29-11-08	21-12-07	-	Active	NO
15	U45201MH2007PLC171985	TRIL Constructions Limited.	Director	29-11-08	21-12-07	-	Active	NO
16	U67120MH1992PLC066160	Panatone Finvest Limited	Director	17-09-10	11-09-09	-	Active	NO
17	U29268MH2010PLC201707	Tata Lockheed Martin Aerostructures Limited	Director	05-04-10	05-04-10	-	Active	NO
18	U72900MH2008PLC188713	Avana Integrated Systems Limited	Director	24-09-10	16-04-10	-	Active	NO
19	U74900MH2010PLC207825	Indian Rotorcraft Limited	Director	18-09-10	18-09-10	-	Active	NO

Name :

Mr. James Albert Morris

Designation :

Director

Address :

204 Deer Park TRL, Canton GA 301146650

Date of Birth/Age :

22.03.1960

Date of Appointment :

18.02.2011

DIN No.:

03377772

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U29268MH2010PLC201707	Tata Lockheed Martin Aerostructures Limited	Director	18-02-11	18-02-11	Active	NO

Name :

Mr. Michael Edward Cain

Designation :

Director

Address :

1291, Private Road 4011, Decatur, TX 76234

Date of Birth/Age :

03.09.1962

Date of Appointment :

18.02.2011

DIN No.:

03377786

Other Directorship :

.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U29268MH2010PLC201707	Tata Lockheed Martin Aerostructures Limited	Director	18-02-11	18-02-11	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

Names of Shareholders		No. of Shares
Tata Advanced Systems Limited, India		49994
Sukaran Singh		1
Lt. General (Retd.) Davinder Kumar		1
Davinder Singh		1
Parmeshwar Kumar		1
R. Sadacharam		1
Amit Ahuja		1
Total		50000

BUSINESS DETAILS

Line of Business :	Manufacturing and Assembling of Centre Wing Box and Empennage.

GENERAL INFORMATION

No. of Employees :	Not Available

Bankers :	Not Available


Banking Relations :	--

Auditors :	Not Available

CAPITAL STRUCTURE

Authorised Capital : Rs.1650.000 millions

Issued, Subscribed & Paid-up Capital : Rs.1646.945 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

NEW COMPANY

LOCAL AGENCY FURTHER INFORMATION

OBSERVATION POINTS:

Name of Company:	TATA LOCKHEED MARTIN AEROSTRUCTURES LIMITED

Address:	2^nd Floor, Gowra Trinity, 1-8-371, Chiran Fort Lane, S.P. Road, Opposite USA Consulate, Begumpet, Hyderabad – 500 016.

Tel. Nos.:	91-40-67283900 91-40-67283906 (Mr. Anees Ahmed) Cell No.: 91-9246826968 E-Mail: aaahmed@tataadvancedsystems.com 91-40-67283908 (Mr. Sekar Iyer) Cell No.: 91-9701778282 E-Mail: siyer@tataadvancedsystems.com Website: www.tataadvancedsystems.com

Name Board:	Sighted

Visibility of Name Board:	High

Location:	Easy

Landmark (if any):	Floor 2

Locality:	Office

Approximately Market Value of Premises:	Area 4000 sq ft

Area :	Upmarket

Visibility of Items:	Telephone Computers Xerox Machine Office Equipment AC

No. of Employees seen at Business Premises:	50

Furniture Items Sighted:	Yes

Office Appearance:	Excellent

Sister Concerns (Other Names on Name Board):	NIL

Visiting Card Provided as Proof:	Yes

WEBSITE DETAILS:

PRESS RELEASES:

TATA GROUP FORMS JV WITH LOCKHEED; MAKES FORAY INTO AEROSPACE

India Defence Online, New Delhi — Tata Advanced Systems Limited (TASL), subsidiary of the Indian major Tata Group, has signed an agreement with the US major Lockheed Martin for the formation of the joint venture firm called Tata Lockheed Martin Aerostructures. The new venture aims to build aero-structures for Lockheed’s C-130 aircraft in India. Lockheed Martin has already received an order for six C130J Super Hercules tactical airlift transport aircraft from India and has supplied one aircraft until now.

The joint venture between these two industry giants will culminate into a facility that will be export-oriented and the products manufactured will form a key aircraft structure that Lockheed Martin will integrate and complete for its global C-130 aircraft customers. This joint venture with Tata Advanced Limited is Lockheed Martin’s first in India and has been established as a strategic element of Lockheed Martin’s global supply chain besides making its presence felt in India.

The joint venture firm Tata Lockheed Martin Aero-structures will have a 74 per cent holding by Tata Advanced Systems while remaining 26 per cent shareholding would be owned by the Lockheed Martin. The Tata Lockheed Martin Aerostructures facility will come up near the Hyderabad airport later this year.

According to experts, the likelihood of the Tata Group becoming the preferred local partner of US firms bidding to sell medium multi-role combat aircraft (MMRCA) to India in the world’s largest fighter jet deal has increased due to its tie-ups and agreements with US giants. Besides the venture with Lockheed Martin, Tata Industries Limited, another group company, already has a joint venture with Boeing to manufacture defence-related aerospace components in India for export to Boeing and its clients worldwide. Both Lockheed Martin and Boeing are in the race to sell 126 MMRCA to India for $11.2 billion.

Tata Advanced Systems is making a major foray into aerospace as it has announced setting up of three aerospace component manufacturing facilities in Hyderabad including the recent tie-up with Lockheed Martin. The other ventures include a tie-up with Sikorsky as well as a local venture of its own. Interestingly, all the three manufacturing facilities will come up at Adibatla Aerospace Special Economic Zone in the outskirts of Hyderabad to commence production by year-end. The total investment by Tata in all these ventures is over $220 million.

According to S Ramadorai, chairman of Tata Advanced Systems, these three projects mark a significant step forward in India’s growth as a high technology, precision manufacturing destination and will place Hyderabad on the global aerospace map. He added that the Tata group plans to locate many more of its aerospace projects in Hyderabad both in joint venture with global giants and on its own.

TATA, LOCKHEED MARTIN IN JV TO MAKE AEROSTRUCTURES IN INDIA

MUMBAI: Tata Advanced Systems and Lockheed Martin Corporation on Monday announced the formation of a new joint venture company called Tata Lockheed Martin Aerostructures to manufacture aerostructures for the C-130 aircraft produced by Lockheed Martin.

The new Tata Lockheed Martin Aerostructures facility is export-oriented and the products manufactured will form a key aircraft structure that Lockheed Martin will integrate and complete for its global C-130 aircraft customers, a press release issued here stated.

Tata Advanced Systems is a wholly-owned subsidiary of Tata Sons focused on providing integrated solutions for aerospace, defence, homeland security and disaster management.

FOUNDATION LAID FOR 3 TATA AEROSPACE PROJECTS

The three projects located in RR District are expected to go on stream by 2011 end

‘Projects which involve investment of Rs.10000.000 millions will provide jobs to 9,000 persons'

HYDERABAD: Chief Minister N. Kiran Kumar Reddy performed the ‘ground breaking' ceremony for three Tata Group projects here on Monday, pitchforking Hyderabad onto the global aerospace map.

Involving an investment of Rs.10000.000 millions and providing direct and indirect employment to 9,000 persons, the three aerospace manufacturing projects at Adibhatla village in Ranga Reddy district are Tata Lockheed Martin Aerostructure, (joint venture between Tata Advanced Systems (TAS) and Lockheed Martin), Tata Aerospace Systems (JV of TAS and Sikorsky Aircraft) and Nova Integrated systems (Tata enterprise). They are expected to go on stream by 2011 end.

The foundation was symbolically laid at a hotel by the Chief Minister and Major Industries Minister, J. Geeta Reddy, in the presence of S. Ramadorai, chairman of Tata Advanced Systems, Orville Prins, Vice President (Business Development), Lockheed Martin and Retired Air Vice-Marshal A. J. S. Walia, Managing Director, Sikorsky India.

Huge leap

The Chief Minister said the arrival of the Tata Group would be a big leap for the aerospace manufacturing industry in Hyderabad, already known as a hub for defence and aerospace units. Hyderabad was the best investment destination despite a few problems. But when it comes to infrastructure and power tariff, the State offered the best deal with tailor-made incentives for major industries.

Industry was being promoted with the twin objectives of industrialisation and creating local employment, he said. “We are prepared to do whatever best is possible to promote industrialisation.” He thanked Ratan Tata, chairman of the Tata Group, for selecting Hyderabad for its three major manufacturing projects. Ms. Geeta Reddy said the aerospace hub would add to the string of defence research institutions and industries like DRDO and Midhani. The State was able to attract investments worth Rs.250000.000 millions.

Benefits to industry

Mr. Ramadorai said the three projects marked a significant step forward in India's growth as a high-technology, precision and manufacturing destination. Mr. Prins felt the joint venture of TAS and Lockheed Martin would become a foundation for a long and beneficial partnership between the two companies, creating additional jobs in India and the United States. Mr. Walia said the ground breaking ceremony represented the next phase of the Tata-Sikorsky relationship, bringing benefits to local industry, the government and the region.

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.46.97
UK Pound	1	Rs.74.22
Euro	1	Rs.63.66

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.