MIRA INFORM REPORT

Report Date :

12.09.2011

IDENTIFICATION DETAILS

Name :	ESSEL INFRAPROJECTS LIMITED (w.e.f.20.02.2007)
Formerly Known As :	ESSELS AMUSEMENTS PARKS (INDIA) LIMITED PAN INDIA PARYATAN LIMITED
Registered Office :	Continental Building, 135 Dr. Annie Besant Road, Worli, Mumbai-400018, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	07.07.1987
Com. Reg. No.:	11-044006
Capital Investment / Paid-up Capital :	Rs. 301.021 Millions
CIN No.: [Company Identification No.]	U74999MH1987PLC044006
TAN No.: [Tax Deduction & Collection Account No.]	MUMP15977D
PAN No.: [Permanent Account No.]	AAACP6095M
Legal Form :	A Closely Held Public Limited Liability Company.
Line of Business :	Subject is engaged in the development of roads, power plants, Sports complexes and Special Economic Zones.

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

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

Maximum Credit Limit :	USD 64000000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. The company has incurred some losses in the year 2009-10. However net worth appears to be satisfactory. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. 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	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 :	Continental Building, 135 Dr. Annie Besant Road, Worli, Mumbai-400018, Maharashtra, India
Tel. No.:	91-22-66971234 / 24309361 / 66012323
Fax No.:	91-22-24900302 / 24900213 / 24309012
E-Mail :	anganev@ew.esselgroup.com feedback@esselgroup.com venkateshan@infra.esslgroup.com
Website :	www.esselgroup.com
Corporate Office :	3, Power House, Off Veer Savarkar Marg, Twin Tower Lane, prabhadevi, Mumbai-400025, Maharashtra, India
Tel. No.:	91-22-24309351 / 52
Fax No.:	91-22-24309012
Regional Offices :	New Delhi B-10, Essel House, Lawrence Road, Industrial Area, New Delhi-110035, Delhi, India Tel. No.: 91-11-27101145 / 54 Fax No.: 91-11-27192172 Kolkata 5A/1 and 5A/2,5th Floor, Park Plaza, 71, Park Street, Kolkata-700016, West Bengal, India Tel. No.: 91-33-2227 5458 / 5459 Fax No.: 91-33-22275463 Pune Swastik Apartment, Gulmohar Lane Of Law College Opposite Nirmiti Showroom Erandawane, Pune 4110 04, Maharashtra, India Tel. No.: 91-20-25455338 Fax No.: 91-20-25422049 Hyderabad 6-2-929 DB Enclave, Raj Bhavan Road, Khairtabad, Hyderbad-500 004, India Tel. No.: 91-40-23320139 / 23320770 Fax No.: 91 40 23320164 Chennai Alpha Centre, Essel House, 3rd Floor, No. 150 and 151, North Usman Road, T- Nagar, Chennai 600017, Tamil Nadu, India Tel. No.: 91-44-2814464 Fax No.: 91-44-28144963 Bangalore 204, 2nd Floor, H.M., Geneva House, 14, Cunningham Road, Bangalore-560052, India Tel. No.: 91-88-22373183/84/85/86 Fax No.: 91-88-22373180
International Offices :	USA Asia TV USA Limited, One Penn Plaza, 250 W, 34th Street Suite 3501, New York, NY 10119 Tel. No.: 91-646 747 9101 Fax No.: 91- 646 745 9090 / 9102 United Kingdom Asia TV Limited, Unit 7; Belvue Business Centre, Belvue Road, Northoit Middlesex, UB5 5QQ, London, United Kingdom. Tel. No.: 91-44 020 8841 9550 Fax No.: 91-44 020 8841 9550 South Africa 1 ST Floor 109 Atrium Terraces, 272 Oak Avenue., Ferndale, Randburg, South Africa Tel. No.: 91-27 117813352 Fax No.: 91-27 117813347 Singapore 500, Rifle Range Road, # 01-09 Bukit Timah Satellite, Earth Station, Singapore-588 397 Tel. No.: 91-65-64669331 Fax No.: 91-65-6468837 Mauritius 2nd floor, Ebene House, 33, Cybercity Ebene, Mauritius Tel. No.: 91-(230)-464 2222 / 6666 Fax No.: 91-230-464 4040 China Rm 1906 East Tower, Fortune Plaza, 116 Tiyu East Road, Guangzhou, China – 510620, India Tel. No.: 91-86-20 38931510 Fax No.: 91-86-2038931503 Malaysia Level 16, 1 Sentral Jalan Stesen Sentral 5, KL Sentral 50470, Kuala Lumpur. Malaysia Tel. No.: 91-603 2092 9297 Fax No.: 91-603 2092 9201 Dubai "Zee Tower", Office No. 106, Next to DMC Bldg. No. 9, Dubai Media City, P.O. Box 500484, Dubai, U.A.E. Tel. No.: 91-971-44264100 Fax No.: 91-971-43625386 Russia (Moscow) 115419, Moscow Street, Ordzonikidze, Building 11, Stroniye 11, Office 903. Tel. No.: 91-74-959551886 Fax No.: 91-74-959551883

DIRECTORS

AS ON 08.09.2010

Name :	Mr. Subhash Chandra
Designation :	Director
Address :	Flat No.04, Hyde Park Street, London, United Kingdom-W22JW
Date of Birth/Age :	30.11.1950
Date of Appointment :	07.07.1987
DIN No.:	00031458

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	L74950MH1982PLC028947	Essel Propack Limited	Director	22-12-82	22-12-82	-	Active	NO
2	U74999MH1987PLC044006	Essel Infraprojects Limited	Director	07-07-87	07-07-87	-	Active	NO
3	L92132MH1982PLC028767	Zee Entertainment Enterprises Limited	Director	02-12-05	25-06-92	-	Active	NO
4	L51909DL1988PLC101836	Dish Tv India Limited	Director	09-08-95	09-08-95	-	Active	NO
5	U64201DL2000PLC106553	Agrani Satellite Services Limited	Director	20-12-00	20-12-00	-	Amalgamated	NO
6	U92200DL1959NPL003169	United News Of India	Director	26-09-06	26-09-06	20-03-09	Active	YES
7	L92100MH1999PLC121506	Zee News Limited	Director	01-04-07	23-11-06	-	Active	NO
8	L64200MH2006PLC160733	Wire And Wireless (India) Limited	Director	05-12-06	05-12-06	-	Active	NO
9	U74120MH2007NPL168278	Adhikaar Foundation	Director	29-08-08	01-03-07	-	Active	NO
10	L80220MH1999PLC121505	Etc Networks Limited	Director	23-01-08	23-01-08	16-10-08	Amalgamated	NO

Name :	Mr. Punit Goenka
Designation :	Director
Address :	Bunglow No.1, Jolly Maker Apartment, No.1, Cuffe Parade, Colaba, Mumbai-400005, Maharashtra, India
Date of Birth/Age :	20.06.1975
Date of Appointment :	30.06.1995
DIN No.:	00031263

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	U74999MH1987PLC044006	Essel Infraprojects Limited	Director	30-06-95	30-06-95	-	Active	NO
2	L51909DL1988PLC101836	Dish TV India Limited	Director	01-04-98	01-04-98	06-01-07	Active	NO
3	U74899DL1995PLC070406	Essel Ship Breaking Limited	Director	17-05-00	17-05-00	-	Active	NO
4	U64201DL2000PLC106553	Agrani Satellite Services Limited	Director	30-06-00	30-06-00	10-12-09	Amalgamated	NO
5	U74899DL2000PLC106552	Agrani Convergence Limited	Director	07-09-00	07-09-00	05-11-09	Active	NO
6	U72200DL2000PLC108804	Agrani Telecom Limited	Director	08-12-00	08-12-00	27-05-11	Active	NO
7	U64200MH2004PLC148772	Zee Sports Limited	Director	23-09-04	23-09-04	-	Active	NO
8	U80220MH2004PTC149110	Brio Academic Infrastructure And Resource Management Private Limited	Director	14-10-04	14-10-04	22-11-10	Active	NO
9	U92112MH2001PTC130457	E-City Films India Private Limited	Director	24-12-04	24-12-04	15-01-08	Active	NO
10	L92132MH1982PLC028767	Zee Entertainment Enterprises Limited	Managing director	01-01-10	01-01-05	-	Active	NO
11	U22120MH2005PLC151377	Diligent Media Corporation Limited	Director	17-02-05	17-02-05	-	Active	NO
12	U65990MH2005PTC156348	E-City Finance Company Private Limited	Director	26-09-05	26-09-05	23-03-09	Active	NO
13	U65993MH2006PLC162533	Essel-Centrum Holdings Limited	Director	08-07-06	08-07-06	05-11-09	Active	NO
14	U74120MH2007NPL168278	Adhikaar Foundation	Director	29-08-08	01-03-07	-	Active	NO
15	U92412MH2007PTC171016	Essel Sports Private Limited	Director	22-05-07	22-05-07	31-07-07	Active	NO
16	U45200MH2000PTC128252	Pan India Infrastructures Private Limited	Director	29-09-07	04-09-07	10-10-08	Active	NO
17	U74900MH2007PTC173867	Essel Media Ventures Private Limited	Director	06-09-07	06-09-07	-	Active	NO
18	U74899DL1995PTC063992	Procall Private Limited	Additional director	12-09-07	12-09-07	20-11-07	Active	NO
19	L80220MH1999PLC121505	Etc Networks Limited	Director	23-01-08	23-01-08	-	Amalgamated	NO
20	U13204KA2008PTC046731	Kolar & Ramgiri Gold Mining Private Limited	Director	10-06-08	10-06-08	-	Active	NO
21	U74899DL2001PLC113501	Zee-Turner Limited	Director	17-08-09	24-07-08	-	Active	NO
22	U64202UP2005PTC030862	Asc Telecommunication Private Limited	Director	30-09-08	29-07-08	05-11-09	Active	NO
23	L92100MH1999PLC121506	Zee News Limited	Managing director	05-07-10	25-03-09	-	Active	NO
24	U45203MH2009PLC193947	Essel Sagar Damoh Toll Roads Limited	Director	09-07-09	09-07-09	-	Active	NO
25	U45203MH2009PLC193948	Essel Damoh - Jabalpur Toll Roads Limited	Director	09-07-09	09-07-09	-	Active	NO
26	L18101MH1997PLC111924	Provogue (India) Limited	Director	24-09-10	27-11-09	-	Active	NO
27	U73100DL2010NPL205584	Broadcast Audience Research Council	Director	09-07-10	09-07-10	-	Active	NO
28	U74899DL1999NPL101705	Indian Broadcasting Foundation U S 25 Public Company	Nominee director	03-09-10	03-09-10	-	Active	NO

Name :	Mr. Ashok Kumar Goel
Designation :	Director
Address :	7^th Floor, Shubh Apartment, B. G. Kher Road, Next To Campa, Cola Compound, Worli, Mumbai-400018, Maharashtra, India
Date of Birth/Age :	09.11.1961
Date of Appointment :	07.07.1987
DIN No.:	00025350

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	L28100MH1964PLC013064	Solid Containers Limited	Director	29-11-83	29-11-83	-	Active	NO
2	L74950MH1982PLC028947	Essel Propack Limited	Managing director	10-09-84	10-09-84	-	Active	NO
3	U74999MH1987PLC044006	Essel Infraprojects Limited	Director	07-07-87	07-07-87	01-07-11	Active	NO
4	U65990MH1972PTC016137	Veena Investments Private Limited	Director	07-12-93	07-12-93	-	Active	NO
5	L51909DL1988PLC101836	Dish TV India Limited	Director	24-04-95	24-04-95	06-01-07	Active	NO
6	U51909WB1996PTC076379	East India Company (Trading) Private Limited	Director	05-01-96	05-01-96	-	Active	NO
7	U92130MH1996PTC100488	Asian Satellite Broadcast Private Limited	Director	27-06-96	27-06-96	-	Active	NO
8	U25209MH1984NPL032701	Organization Of Plastics Processors Of India	Director	30-07-96	30-07-96	-	Active	NO
9	U21010MH1965GAP013226	Indian Flexible Packaging and Folding Carton Manufacturers Association	Director	03-10-97	03-10-97	30-09-09	Active	NO
10	U29307MH1997PTC195870	Sunflower Solar Systems Private Limited	Director	20-09-98	20-09-98	-	Active	NO
11	U91120MH1999GAP117936	Indian Association Of Amusement Parks And Industries	Director	30-01-99	30-01-99	-	Active	NO
12	U72200DL2000PLC108804	Agrani Telecom Limited	Director	08-12-00	08-12-00	-	Active	NO
13	U61190MH1986PTC039204	Jayneer Capital Private Limited	Director	01-10-01	01-10-01	-	Active	NO
14	U25202MH2001PTC130693	Bericap India Private Limited	Director	28-11-03	28-11-03	31-08-07	Active	NO
15	U92112MH2001PTC130457	E-City Films India Private Limited	Director	23-03-05	23-03-05	24-03-09	Active	NO
16	U70100MH1987PTC042701	Vasant Sagar Properties Private Limited	Director	29-09-09	07-04-05	01-10-09	Active	NO
17	U64202MH2006PTC160807	Itx Trade Exchange Private Limited	Director	29-03-06	29-03-06	-	Active	NO
18	U74999MH2006PLC160835	Itz Cash Card Limited	Director	29-03-06	29-03-06	-	Active	NO
19	U74120MH2007NPL168278	Adhikaar Foundation	Director	29-08-08	01-03-07	-	Active	NO
20	U74899DL1994PTC060785	R.K.J. Woods Plantation Private Limited	Director	23-09-08	15-01-08	-	Active	NO
21	U45207MH2007PTC173440	Pan India Paryatan Private Limited	Director	28-07-08	28-07-08	-	Active	NO
22	U67190MH2008PLC181062	India SME Asset Reconstruction Company Limited	Director	09-09-09	20-08-08	-	Active	NO
23	U67190MH2008PTC187374	Vyoman Leisure And Infravest India Private Limited	Director	08-10-08	08-10-08	-	Amalgamated	NO
24	U74900MH2009PTC189945	Itz Online Financial Services Private Limited	Director	29-01-09	29-01-09	-	Active	NO
25	U14200MH2008PTC181960	Hi-Tech Mines And Minerals Private Limited	Director	29-07-11	29-07-11	-	Active	NO

Name :	Ms. Kavita Ashokkumar Goel
Designation :	Whole Time Director
Address :	7^th Floor, Shubh Apartment, B. G. Kher Road, Next To Campa, Cola Compound, Worli, Mumbai-400018, Maharashtra, India
Date of Birth/Age :	19.12.1964
Date of Appointment :	01.04.2001
DIN No.:	00156937

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	U29307MH1997PTC195870	Sunflower Solar Systems Private Limited	Director	20-09-98	20-09-98	Active	NO
2	U74999MH1987PLC044006	Essel Infraprojects Limited	Whole-time director	01-04-01	01-04-01	Active	NO
3	U72200MH2000PTC127738	Intrex India Private Limited	Director	24-09-01	24-09-01	Active	NO
4	U52190MH2006PLC160814	FAB-5 Merchandise Company Limited	Managing director	28-03-06	28-03-06	Active	NO
5	U45207MH2007PTC173440	Pan India Paryatan Private Limited	Director	28-07-08	28-07-08	Active	NO
6	U67190MH2008PTC187374	Vyoman Leisure And Infravest India Private Limited	Director	08-10-08	08-10-08	Amalgamated	NO
7	U51909WB1996PTC076379	East India Company (Trading) Private Limited	Director	23-07-10	23-07-10	Active	NO

Name :	Mr. Jawahar Lal Goel
Designation :	Director
Address :	Nand Tara, 22, Oak, Drive Mandi Road, Sultanpur, Mehrauli, New Delhi-110030, Delhi, India
Date of Birth/Age :	17.12.1954
Date of Appointment :	04.02.2008
DIN No.:	00076462

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	U99999DL1973PTC006769	Blue Line Motors Private Limited	Director	25-06-78	25-06-78	30-10-01	Strike off	NO
2	U63022DL1978PLC009193	Rama Associates Limited	Director	12-07-79	12-07-79	15-01-11	Active	NO
3	U74999MH1987PLC044006	Essel Infraprojects Limited	Additional director	04-02-08	07-07-87	-	Active	NO
4	L65910DL1984PLC018831	Asian Sky Shop Limited	Director	20-06-94	20-06-94	-	Active	NO
5	U74899DL1994PLC059874	Essel International Limited	Director	28-06-94	28-06-94	-	Active	NO
6	L65993DL1982PLC014195	Rankay Investment And Trading Company Limited	Director	17-10-94	17-10-94	-	Active	NO
7	U09211DL1999PTC102264	New Media Broadcasting Private Limited	Director	03-11-99	03-11-99	28-12-10	Active	NO
8	U74899DL1995PTC063992	Procall Private Limited	Director	30-09-02	30-09-02	22-05-08	Active	NO
9	U51901CH2002PTC025614	Bigwin Enterprises Private Limited	Director	03-12-02	03-12-02	03-10-09	Active	NO
10	U74899DL1999NPL101705	Indian Broadcasting Foundation U S 25 Public Company	Nominee director	29-09-04	29-09-04	-	Active	NO
11	U64202UP2005PTC030862	Asc Telecommunication Private Limited	Director	30-09-08	18-10-05	29-03-11	Active	NO
12	U92200DL1959NPL003169	United News Of India	Director	26-09-06	26-09-06	20-03-09	Active	YES
13	L51909DL1988PLC101836	Dish TV India Limited	Managing director	06-01-07	06-01-07	-	Active	NO
14	U92412MH2007PTC171016	Essel Sports Private Limited	Director	31-07-07	31-07-07	03-03-08	Active	NO
15	U17110GJ1988PLC010634	Chiripal Industries Limited	Director	29-09-08	09-01-08	-	Active	NO
16	U74899DL2001PLC113501	Zee-Turner Limited	Additional director	01-12-10	01-12-10	-	Active	NO

Name :	Mr. Sanjay Arya
Designation :	Director
Address :	9, Arya Varta 20, Narayan DH, Ambolkar Road, Malabar Hill, Mumbai- 400006, Maharashtra, India
Date of Birth/Age :	27.07.1965
Date of Appointment :	21.02.1989
DIN No.:	01817328

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	U74999MH1987PLC044006	Essel Infraprojects Limited	Director	21-02-89	21-02-89	01-07-11	Active	NO
2	U60210TN1981PLC008816	Pcc Logistics Limited	Director	03-05-94	03-05-94	-	Active	NO
3	U63090WB2007PLC119362	Economic Transport Organisation Limited	Director	08-10-07	08-10-07	23-08-11	Active	NO
4	U24110MH1975PTC018460	Arya Heavy Chemicals Private Limited	Director	24-09-09	24-09-09	-	Active	YES
5	U74990MH2009PTC196090	Keshav Forex & Travels Private Limited	Director	29-09-09	29-09-09	-	Active	NO
6	U63010MH1986PLC038912	Yatayat (India) Limited	Director	10-08-10	10-08-10	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Srinivasan Venkateshan
Designation :	Director
Address :	5, 2^nd Floor, Durga Villa Lalitha Society, Gokhale Road, Vile Parle (East), Mumbai-400057, Maharashtra, India
Date of Birth/Age :	27.01.1961
Date of Appointment :	08.09.2010
PAN No.:	AAZPV6414E

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 08.09.2010

Names of Shareholders	No. of Shares	Holding In %
Mr. Subhash Chandra Flat No.04, Hyde Park Street, London, United Kingdom-W22JW	4304310	14.30
Churu Trading Company Private Limited	9157913	30.42
Rama Associates Limited	473600	1.57
Premier Finance and Trading Company Limited	8029412	26.67
Prajatma Trading Company Private Limited	8124410	26.99
Dinesh Kanodia	3000	0.01
Anand Chalwade	3500	0.01
Himanshu Mody	6000	0.02
Total	30102145	100.00

AS ON 08.09.2010

Category	Percentage
Bodies corporate	85.66
Directors or relatives of Directors	14.30
Others	0.04
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in the development of roads, power plants, Sports complexes and Special Economic Zones.

GENERAL INFORMATION

Bankers :

· Yes Bank Limited, 9^th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai-400018, Maharashtra, India

Facilities :

Secured Loan	Rs. In Millions 31.03.2010	Rs. In Millions 31.03.2009
TERM LOAN FROM
- Banks		2049.283
- Financial Institution and Others	2835.957	830.000
Other Loans from Vehicles		4.213
Interest Accrued and Due		10.518
Total	2835.957	2894.014

Banking Relations :	--
Financial Institution :	3i, Infotech Trusteeship Services Limited, 3^rd to 6^th Floor, International Infotech Park, Tower No.5, Vashi, Railway Station Complex, Vashi, Navi Mumbai-400703, Maharashtra, India
Auditors :
Name :	MGB and Company Chartered Accountant
Address :	Jolly Bhawan 2, 1st Floor, 7 Marine Lines, Churchgate, Mumbai- 400020, Maharashtra, India
Tel No.:	91-22-66332330
Fax No.:	91-22-6635-1545
Email :	mgbco@mgbco.com
100% Wholly – Owned Subsidiaries :	Essel Airport Infrastructure Private Limited CIN No.: U45203MH2005PTC153937 Pan India Infrastructures Private Limited CIN No.: U45200MH2000PTC128252 Essel Bhind Mihona Gopalpur Toll Roads Limited CIN No.: U45200MH2009PLC193950 Essel Infra Projects International Holdings Pte. Limited Essel Entertainment Media Limited CIN No.: U92190MH2007PLC177148 Essel Rpw Projects Private Limited CIN No.: U23200MH1994PTC077010 Essel Sagar Damoh Toll Roads Limited CIN No.: U45203MH2009PLC193947 Essel Damoh - Jabalpur Toll Roads Limited CIN No.: U45203MH2009PLC193948 Essel Bina Khimlasa Malthon Toll Roads Limited CIN No.: U45203MH2009PLC193949 Essel Ahmedabad Godhra Toll Roads Limited CIN No.: U45200MH2010PLC200541 Essel Sports Infrastructure Limited Digital Ventures Private Limited
Other Related Parties :	· Aqualand India Limited · Churu Trading Company Private Limited · Cyquator Technologies Limited · Zee Entertainment Enterprise Limited · Pan India Network Infravest Private Limited · Ganjam Trading Company Private Limited · Essel Corporate Resources Private Limited · Zee News Limited · Wire and Wireless (India) Limited · Suncity Hitech Infrastructure Private Limited · Suncity Hitech Project Private Limited · Dish TV India Limited · Jayneer Capital Private Limited · Prajatma Trading Company Private Limited · Procall Private Limited · Jay Properties Private Limited · Vasant Sagar Properties Private Limited · Essel International Limited · Digital Ventures Private Limited · Pranami Properties Private limited · Premier Finance and Trading Private Limited · Edison Continental Laboratories Private Limited.
Subsidiary of The Company:	· Essel RPW Projects Private Limited (Formely known as Maharashtra Hydrocarbon Products Private Limited) · Essel Ahmedabad Godhra Toll Road Limited
Associates of the Company :	· BOP Pte. Limited · Western M P Infrastructure Toll Roads Private Limited · Malegaon Manmad Kopargoan Infrastructures and Toll Road Private Limited (ERPW is step-down subsidiary of EIL and holds 50% stake in MMKPL) · Essel Clean Solu Hydropower (Incorporated on 9^th June, 2010 with Office of Register, Nepal)
	·

CAPITAL STRUCTURE

AS ON 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
35000000	Equity Shares	Rs.10/- each	Rs. 350.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
30102145	Equity Shares	Rs.10/- each	Rs. 301.021 Millions

AS ON 31.03.2010

Authorised Capital : Rs. 600.000 Millions

Issued, Subscribed & Paid-up Capital : Rs. 451.532 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		301.021	301.021	249.320
2] Share Application Money		1821.188	0.564	288.498
3] Reserves & Surplus		14044.598	2208.630	1548.602
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		16166.807	2510.215	2086.420
LOAN FUNDS
1] Secured Loans		2835.957	2894.014	1502.354
2] Unsecured Loans		0.0000	0.000	0.000
TOTAL BORROWING		2835.957	2894.014	1502.354
DEFERRED TAX LIABILITIES		0.000	0.000	107.100
TOTAL		19002.764	5404.229	3695.874
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		12032.487	33.309	582.293
Capital work-in-progress		682.035	463.143	330.288
INVESTMENT		4594.852	2265.487	1981.004
DEFERREX TAX ASSETS		11.991	6.400	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	11.746
	Sundry Debtors	275.695	181.368	27.090
	Cash & Bank Balances	124.106	709.643	109.347
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	1326.359	2025.860	773.243
Total Current Assets		1726.160	2916.871	921.426
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors		28.156	88.051
	Other Current Liabilities	43.631	252.082	18.010
	Provisions	1.130	0.743	17.272
Total Current Liabilities		44.761	280.981	123.333
Net Current Assets		1681.399	2635.890	798.093
MISCELLANEOUS EXPENSES		0.000	0.000	4.196
TOTAL		19002.764	5404.229	3695.874

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Sales and Services	270.000	201.200	455.693
		Other Income	191.993	38.747	13.692
		TOTAL (A)	461.993	239.947	469.385
Less	EXPENSES
		Personal Cost	24.243	20.698	91.563
		Cost of Goods Sold	0.000	0.000	15.747
		Entertainment Duty	0.000	0.000	23.348
		Operating Expenses	0.000	0.000	96.345
		Administrative Expenses	28.485	31.580	92.595
		Foreign Exchange (gain) / Loss on Redemption of Preference Shares	91.116	0.000	0.000
		TOTAL (B)	143.844	52.278	319.598
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		318.149	187.669	149.787
Less	FINANCIAL EXPENSES (D)		369.105	162.752	87.363
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(50.956)	24.917	62.424
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.819	0.583	38.724
	PROFIT BEFORE TAX (E-F) (G)		(51.775)	24.334	23.700
Less	TAX (I)		(5.591)	5.237	8.160
	PROFIT AFTER TAX (G-I) (J)		(46.184)	19.097	15.540
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		341.504	322.407	306.867
	BALANCE CARRIED TO THE B/S		295.320	341.504	322.407
	Earnings Per Share (Rs.)		(1.53)	0.63	0.62

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	(10.00)	7.96	3.31
Net Profit Margin (PBT/Sales)	(%)	(19.18)	12.09	5.20
Return on Total Assets (PBT/Total Assets}	(%)	(0.38)	0.82	1.58
Return on Investment (ROI) (PBT/Networth)		(0.00)	0.01	0.01
Debt Equity Ratio (Total Liability/Networth)		0.18	1.26	0.83
Current Ratio (Current Asset/Current Liability)		38.56	10.38	7.47

LOCAL AGENCY FURTHER INFORMATION

Note: Pursuant to the Scheme of Amalgamation of Merry Movements and Equipments Limited with Essel Infraprojects Limited, the figures have been regrouped, wherever necessary and the current year’s figures are made post amalgamation.

OPERATIONAL PERFORMANCE:

The company’s total income for the year is Rs. 461.993 Millions compared to Rs. 239.947 Millions for the previous year. the net profit before tax and exceptional items has increased to Rs. 39.340 Millions compared to last year Rs. 24.334 Millions during the current year. the Company has incurred loss of Rs. (46.184 Millions) on account of Foreign exchange loss of Rs. 91.116 Millions during the current year as compared to last year’s profit of Rs. 19.097 millions.

MERGER:

Pursuant to the provisions of section 391 to 394 and all other applicable provisions, if any of the Companies Act, 1956, the Scheme of Amalgamation of Merry Movements and Equipments Limited (MMEL) with Essel Infraprojects Limited (EIL) and their respective shareholders was sanctioned by the Hon'ble High Court of Judicature at Bombay vide Order dated July 09,2010. Pursuant to the said scheme MMEL has merged with EIL with effect from April 01,2009 and accordingly, all the assets and liabilities of the MMEL has been transferred to and vested with EIL and accounted on fair Market value on the appointed date on a going concern basis.

The Scheme has been given effect in the current financial statements.

OPERATIONS AND BUSINESS OVERVIEW:

State Highways:

Malegaon-Manumad-Kopargaon (MaIegaon Manumad Kopargoan Infrastructure and Toll Road Private Limited.)

The Company has completed road project - Malegaon-Manumad-Kopargaon in the State of Maharashtra on BOT basis. The total length of the road is 75.6 this road stretch commend in February 2005 and the toll collection commenced after the completion of the entire stretch In July 2007. The concession period for the project is 21 years and Essel Groups holds 50% equity in the aforesaid SPV. The Company has securitized the Toll Revenue in November 2009. The Toll Revenue of the Road arc as per projections.

Lebad-Jaora (Western M P Infrastructure and Toll Roads Private Limited)

The India's first Design, Build, Finance and Operate Project (DBFO) - Four laning of Lebad - Jaora Road Project from Lebad to Jaora (Km 0.00 to Km 125.00 – approx 125.00 km.) on SH-31- on Build Operate Transfer (BOT) basis in the state of Madhya Pradesh is on the verge of Completion. This project corridor is a segment of 125 km

long stretch. The concession period is 25 years inclusive of construction period of 2 years. The tolling on one homogenous section of 0 to 67 Kms has commenced on 25th November 2OU9 which is six months ahead of Commercial Operation Data (COD). The construction / development of the entire stretch will be completed by November, 2010. The future prospects are good on completion of Toll Plaza and will generate better Toll Revenue for the Company.

Sagar-Damoh- (Essel Sagar Damoh Toll Roads Limited)

The road project of Sagat - Damoh- Two Laning (SH14 starts from S o p city on NH- 86 at PWD km 8/6 of SH37 and terminates at Teen Glli Chourah in Damoh City. The total length of the road project under consideration is 68.81 kms. The Concession agreement for the same has been signed on 7^th August 2009. The concession period is 12 years inclusive of construction period of 2 years. The Company has achieved Financial closure on 25^th May, 2010 for the said road project.

Damoh – Jabalpur- (Essel Damoh – Jabalpur Toll roads Limited)

The project road of Damoh-Jabalpur, starts from Damoh City at PWD Km 106 of SH-37 and terminates at Patan Junction in Jabalpur at PWD km 6/8. The total length of the project road under consideration is 98.90 kms. Concession agreement for the same has been signed on 7th August 2009. The concession period is 12 years inclusive of construction period of 2 years. The company has achieved Financial closure on 25^th May, 2010 for the said road project.

Bina-Khimlasa-Malthon-(Essel Bina Khimlasa Malthon Toll Roads Limited)

The project road of Bina -Khimlasa -Malthon starts from Bina Town of SH 42 and after traversing though Khimlasa terminates at Malthon. The total length of the project road under consideration is 39.42 kms. Concession agreement for the same has been signed on 7th August 2009. The concession period is 25 years inclusive of construction period of 2 years. The company has achieved Financial closure on 25^th May, 2010 for the said road project.

Bhind-Mihona-Gopalpur (Essel Bhind Mihona Gopalpur Toll Roads Limited)

The project road of Bhind-Mihona-Gopalpur starts from Lahar Junction at Bhind and after traversing though Mihona terminates at Gopalpur. The total length of the project road under consideration is 50.86 kms. Concession agreement for the same has been signed on 7th August 2009. The concession period is 15 years inclusive of construction period of 2 years. The company has achieved Financial closure on 25^th May, 2010 for the said road project. The construction / development of the road has commenced from February, 2010.

NATIONAL HIGHWAYS

Ahmedabad Godhra Section – (Essel Ahmedabad Godhra Toll Roads Limited)

The Company has been pre qualified for four laning of Ahmedabad to Godhra section of NH 59 for a total length of 117.60 Kms in the state of Gujarat on DBFOT basis under NHDP III on DBFOT basis in consortium with China Railway 18th Bureau (Group) Corporation Limited, which is a leading infrastructure player in China. The Company has signed Concession agreement on 25^th March, 2010 with National Highway Authority of India and has tied up for the entire project loan of Rs. 7990.000 millions and sub-debt of Rs. 650.000 millions. The Company has targeted to achieve financial closure by September, 2010.

SPECIAL ECONOMIC ZONE (SEZ )

Global Tourist Destination – A Multi Services SEZ

The Company has obtained a formal approval from the Government of India, for development, operation and maintenance of a Recreation and Tourism based Multi-Product SEZ to be established in approximately 273 acres of lands, in the Gorai-Manori-Uttan region (approximately 40 Km from the Mumbai International Airport). The proposed project will be the first of its kind in the country, and will have major focus on media, entertainment, wellness, leisure, recreation, and sports, with a major thrust on enhancement of physical and social environment of the area. This SEZ will set a bench mark and provide a leadership positioning, not only in the city of Mumbai or the state of Maharashtra or India as a country, but as one of the unique and outstanding SEZs in this sector in the Asian Region. It will converge and combine the world’s best brands, manufacturers, suppliers and service providers in the above sectors.

The project will cater to the knowledge based service industry (IT/ITES, Research Facilities, etc.) and business (Financial centers). It envisages development of various infrastructure facilities such as residential and commercial complexes, shopping centre, sports complex, convention/ exhibition centre, food courts, hotels, restaurants, educational centre, media, wellness / health care/ spiritual centre, eco-park, roads, bridges, helipads,

cruise terminal, ports / jetties and other physical and social infrastructure

The company is in the process of sorting out Land issues with the locals and is confident of solving the same during this year. the Ministry and State Government is alive to this issue.

URBAN INFRASTRUCTURE PROJECTS

Bhopal Sports City

Department of Sports and Youth Welfare (DSYW), Government of Madhya Pradesh (GoMP), Authority has decided to undertake the development of Sports City Project at Satgarhi Village in Bhopal, Madhya Pradesh (“the Project”) comprising of 172 acres of land on Public- Private Partnership (PPP) basis. The Sports City shall comprise of Sports Infrastructure on a land area of 50 acres and Real Estate on an area of 122 acres. The concession is for a period of 99 years. The scope of project includes: Development of Sports Infrastructure on Built and Transfer (BT) basis to be handed over to the Sports Authority within a period of 3 years and Development of Real Estate which includes 9-hole golf course, 5 star hotel, residential and commercial facilities on Built Own Operate and Transfer (BOOT) basis. On 9^th September, 2008 and the Concession Agreement was executed on 10^th September, 2008 for implementing the project. Development of Sports and Youth Welfare, Government of Madhya Pradesh, Authority has issued extension letter extending the Validity of concession agreement. The Company is in the advanced stage of finalizing the financial clouser.

Family Recreation Center, Bhopal :

With the Company’s experience and expertise in development of Theme Parks, the Company is developing a “Family Recreation Centre” (FRC) in Bhopal for which approval from Government of Madhya Pradesh has already been attained and land measuring 50.7 acres has been allocated. The lease deed for the land has been registered. The company is the advanced stage of financial Closure and will commence work shortly.

ESSEL Tower- Hyderabad

The Company is developing a 2.5 million sq ft of area in Kukatpally in Hyderabad, which is considered to be Asia’s largest township on a joint development basis. The project comprises of 1.6 million sq ft of residential and 0.9 million sq ft of commercial premises. The property is located on the National Highway and one of the proposed Metro stations is planned opposite this property. The project outlay would be Rs. 5700.000 millions.

EPC CONTRACTS

Educational Complex at, Bandra Kurla Complex, Mumbai.

The Company through its wholly-owned Subsidiary M/s Digital Ventures Private Limited is under the process of developing a school and other infrastructure related activities for TALEEM, a trust promoted by ESSEL Group.

The Company has submitted a detailed plan of the Project outlay to Mumbai Metropolitain Region Development Authority and the plan has been approved by the said authority to develop a complex admeasuring 5900 Sq. feet. The Project is to be developed on MMRDA plot located in the prime commercial area of Bandra – Kurla Complex, Mumbai.

The work has commenced on 6^th August, 2010 in relation to excavation and other construction activities and is currently under progress. The company has tied up with various financial institutions and Banks for raising funds for the project and the Project cost is estimated to be around Rs. 2830.000 Millions.

Hydroelectric Project, Katbmandu, Nepal (Essel Clean Solu Hydropower)

The Company entered into a Joint Venture with local partner in Nepal for generation of Hydro Power. The Company has 49% stake in the Joint Venture. The Joint Venture Company has been awarded Survey License on 9^th July 2010 for the aforesaid Project by Department of Electricity Development, Ministry of Energy, Government of Nepal for Development of Lower Solu Khola Small Hydropower Project which was awarded through Competitive Bidding (40 MW with a possible up gradation up to 100MW) on payment of required License fee and Upfront Charge of NRs. 260.000 millions. The project is a high head development for run off river project with a gross head of 428 meters and is located on Solu River at Solukhumbhu district in the Easter Development region of Nepal. The SPV for the said project is incorporated with office of Company Registrar, Nepal on 9^th July, 2010 in the name ‘Essel Clean Solu Hydropower’.

FORM 8

Corporate identity number of the company	U74999MH1987PLC044006
Name of the company	Essel Infraprojects Limited
Address of the registered office or of the principal place of business in India of the company	Continental Building, 135 Dr. Annie Besant Road, Worli, Mumbai-400018, Maharashtra, India
This form is for	Creation of charge
Type of charge	Movable property (not being pledge)
Particular of charge holder	Yes Bank Limited, 9^th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai-400018, Maharashtra, India
Nature of instrument creating charge	Deed Of Hypothecation
Date of instrument Creating the charge	14.10.2010
Amount secured by the charge	Rs. 1000.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest BG- Bid Bond / PBG-1.50% p. a. payable upfront on quarterly basis FBG- 2.25% p.a. payable upfront on quarterly basis Terms of repayment As per sanction Margin 10% Cash Margin in the form of Fixed Deposit under lien with YBL Extent and operation of the charge Subservient charge on moveable assets of the Borrower (more specifically described in the schedule of DoH)
Short particulars of the property charged (Including location of the property)	Subservient charge on moveable assets of the Borrower (more specifically described in the schedule of DoH)

FIXED ASSETS

· Leasehold Land

· Air Conditioner

· Computers

· Other Equipments

· Furniture and Fixtures

· Vehicles

WEB SITE DETAILS

GROUP PROFILE

The Subject Group strives to offer the best to the communities that it serves - shareholders, customers, employees and vendors. 'Faith in innovative and organized growth' is the dictum that drives all business decisions. A multicultural organization with a strong customer focus, Subject Group companies reach out every day to millions of consumers across the globe.

Subject Group is among India's most prominent business houses with a diverse portfolio of assets in media, packaging, entertainment, technology-enabled services, infrastructure development and education. The Group started business in 1976 with a commodity trading and export firm, Rama Associates Limited, and has since then metamorphosed into a conglomerate that is a symbol of the ingenuity and power of Indian entrepreneurship, with worldwide operations and a workforce of nearly 8,000 dedicated employees.

NEWS

PRESS RELEASE

DISCOVER CONDUCTS SESSION ON ONLINE MARKETING

Sep 07, 2011

Online Marketing – The presentation included information about the online opportunities and the Industry information and also touched upon the prevailing techniques and tools. It brought forward the uniqueness of online marketing in its ability to engage the user to a deeper level and a high degree of measurement of the impact of the marketing effort.

Various techniques in display and search advertising were mentioned. The importance of social media and emerging scale of online marketing on mobile platforms was presented as well. With information and statistics that stressed on the size of the audience and possibilities of their engagement, the presentation was very informative to understand the online marketing landscape and opportunities.

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. 46.97
UK Pound	1	Rs. 74.21
Euro	1	Rs. 63.66

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
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	6
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		47

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.