MIRA INFORM REPORT

Report Date :

23.09.2011

IDENTIFICATION DETAILS

Name :	TATA AIG GENERAL INSURANCE COMPANY LIMITED
Registered Office :	Peninsula Corporate Park, Nicholas Pirmal Towers, 9^th Floor, Ganpatrao Kadam Marg, Lower Parel, Mumbai – 400 013, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	24.08.2000
Com. Reg. No.:	11-128425
Capital Investment / Paid-up Capital :	Rs.3650.000 Millions
CIN No.: [Company Identification No.]	U85110MH2000PLC128425
TAN No.: [Tax Deduction & Collection Account No.]	MUMT07207E
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Providing Insurance Services and Loan Services for Education, Home and Business
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 16000000
Status :	Satisfactory
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a Indo-US Joint Venture between Tata Group, India’s premier industrial house and American International Group, Inc, USA. Trade relations are fair. General Position is satisfactory. Payments are reported as usually made 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.

INFORMATION DECLINED BY

Name :	Mr. Bankim Mapara
Designation :	Accounts Manager
Date :	21.09.2011

Name :	Mr. Kedar
Designation :	Finance Controller
Contact No.:	91-22-66930000 Direct Extension : 91-22-66933779
Date :	21.09.2011

LOCATIONS

Registered Office :	Peninsula Corporate Park, Nicholas Pirmal Towers, 9^th Floor, Ganpatrao Kadam Marg, Lower Parel, Mumbai – 400 013, Maharashtra, India
Tel. No.:	91-22-66699761 / 66699701
Fax No.:	91-22-66546464 / 67762270
E-Mail :	kurush.daruwalla@tata-aig.com kedar.patki@tata-aig.com
Website :	http://www.tataaiginsurance.in
Customer Services and Claims Address :	A-501, 5^th Floor, Building No. 4, Infinity Park, Dindoshi, Malad (East), Mumbai – 400 097, Maharashtra, India
Branches :	Located At: · Bangalore · Chennai · Hyderabad · Kolkata · New Delhi · Chandigarh · Pune

DIRECTORS

As on 03.08.2011

Name :

Mr. Farrokh K Kavarana

Designation :

Chairman

Address :

CCI, Chambers, 5^th Floor, Dinshaw Vaccha Road, Mumbai – 400 020, Maharashtra, India

Date of Birth/Age :

17.03.1944

Date of Appointment :

24.08.2000

DIN No.:

00027689

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	U44003MH1945PLC004403	Tata Industries Limited	Director	1/04/1975	1/04/1975	-	Active	NO
2	U45203AP1979PLC057431	Tata Projects Limited	Director	20/02/1979	20/02/1979	-	Active	NO
3	U99999MH1917PLC000478	Tata Sons Limited	Director	1/02/1991	1/02/1991	-	Active	NO
4	L74999TZ1984PLC001456	Titan Industries Limited	Nominee director	27/01/1993	27/01/1993	31/03/2009	Active	NO
5	L15491WB1962PLC031425	Tata Global Beverages Limited	Director	15/06/1994	15/06/1994	-	Active	NO
6	U91110MH1999NPL122154	Centre For Promotion Of Entreprenursh IP	Director	11/10/1999	11/10/1999	-	Active	NO
7	U85110MH2000PLC128425	Tata AIG General Insurance Company Limited	Director	24/08/2000	24/08/2000	-	Active	NO
8	U66010MH2000PLC128403	Tata AIG Life Insurance Company Limited	Director	30/01/2001	30/01/2001	-	Active	NO
9	U24222KA1994PTC024968	Akzo Nobel Coatings India Private Limited	Director	1/10/2001	1/10/2001	17/12/2010	Active	NO
10	U65990MH1994PLC077090	Tata Asset Management Limited	Director	6/08/2009	29/03/2002	-	Active	NO
11	U64200MH2000PLC129407	Sitel India Limited	Director	17/12/2002	17/12/2002	11/04/2007	Active	NO
12	U70100MH1990PTC057554	Sika Properties Private Limited	Director	20/12/2002	20/12/2002	-	Active	NO
13	L24240MH1952PLC008951	Trent Limited	Director	30/10/2006	1/11/2004	-	Active	NO
14	U74899DL1995PLC073520	Trent Brands Limited	Director	28/09/2007	14/11/2006	28/04/2010	Active	NO
15	U65990MH1991PLC060670	Tata Capital Limited	Director	17/07/2007	13/04/2007	-	Active	NO
16	U67100MH2010PLC210201	Tata Capital Financial Services Limited	Director	5/09/2011	26/03/2011	-	Active	NO

Name :

Mr. Sunil B Mehta

Designation :

Director

Address :

Flat No. 6, 3^rd Floor, Sorrento Mount, Pleasant Road, Malabar Hill, Mumbai - 400 006, Maharashtra, India

Date of Birth/Age :

22.08.1957

Date of Appointment :

17.09.2002

DIN No.:

00065343

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	U66010MH2000PLC128403	Tata AIG Life Insurance Company Limited	Director	3/09/2002	3/09/2002	31/03/2011	Active	NO
2	U85110MH2000PLC128425	Tata AIG General Insurance Company Limited	Director	17/09/2002	17/09/2002	-	Active	NO
3	U72400TN2002PTC048915	MphasiS FinSolutions Private Limited	Director	30/05/2003	30/05/2003	30/09/2009	Active	NO
4	U99999MH2006NPL159749	Asia Society India Centre	Director	24/03/2006	24/03/2006	-	Active	NO
5	U65993MH2006PTC161367	AIG Capital India Private Limited	Director	26/09/2007	8/05/2006	-	Active	NO
6	U93090MH2006PTC165286	AIG Trustee Company (India) Private Limited	Director	15/12/2006	15/12/2006	10/05/2010	Active	NO
7	U70102KA2006PTC040231	Crius Properties Private Limited	Director	19/01/2007	19/01/2007	2/05/2011	Active	NO
8	U65991TN1990PLC018744	Green Malabar Finance Ventures Limited	Director	29/08/2007	24/01/2007	20/10/2010	Active	NO
9	U09219KA2005PTC035779	Millennia Infrastructure Private Limited	Director	28/05/2007	28/05/2007	2/05/2011	Active	NO
10	U45200DL1994PLC198639	Indo Pacific Housing Finance Limited	Director	7/09/2007	4/06/2007	20/10/2010	Active	NO
11	U67120DL2001PLC199088	Consumer Financial Services Limited	Director	7/09/2007	4/06/2007	20/10/2010	Active	NO
12	U55209KA2007PTC043267	RMZ Galleria (India) Private Limited	Additional director	10/08/2007	10/08/2007	19/08/2010	Active	NO
13	U70102KA2006PTC040808	Millennia Properties Private Limited	Additional director	24/10/2007	24/10/2007	2/05/2011	Active	NO
14	U72200KA2006PTC039056	Velankani Technology Parks Private Limited	Nominee director	26/09/2008	26/09/2008	-	Active	NO
15	U70102KA2007PTC043643	Zorental Realtors (India) Private Limited	Director	4/09/2009	27/02/2009	2/05/2011	Active	NO
16	U45208KA2005PTC035681	Kwenar Infrastructure Private Limited	Director	4/09/2009	12/03/2009	-	Active	NO
17	U45201KA2007PTC043462	Quarnol Technopark (India) Private Limited	Director	4/09/2009	12/03/2009	2/05/2011	Active	NO
18	U74140MH2006PTC165284	AIG Global Asset Management Company (India) Private Limited	Whole-time director	4/06/2010	4/06/2010	-	Active	NO

Name :

Mr. Ishaat R Hussain

Designation :

Director

Address :

No. 222, 22^nd Floor, B wing, NCPA Residential Complex, Sir Dorabji Tata Road, Nariman Point, Mumbai – 400 021, Maharashtra, India

Date of Birth/Age :

02.09.1947

Date of Appointment :

24.08.2000

DIN No.:

00027891

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	L74999TZ1984PLC001456	Titan Industries Limited	Nominee director	17/07/1989	17/07/1989	-	Active	NO
2	U44003MH1945PLC004403	Tata Industries Limited	Director	3/04/1998	3/04/1998	-	Active	NO
3	U99999MH1917PLC000478	Tata Sons Limited	Whole-time director	1/07/2009	24/11/1998	-	Active	NO
4	L29308MH1954PLC009371	Voltas Limited	Director	26/04/1999	26/04/1999	-	Active	NO
5	L27100MH1907PLC000260	Tata Steel Limited	Director	15/07/1999	15/07/1999	-	Active	NO
6	U74899DL1995PLC066685	Tata Teleservices Limited	Nominee director	29/09/1999	29/09/1999	-	Active	NO
7	U65991MH1995PLC087722	Tata Trustee Company Limited	Director	16/06/2000	16/06/2000	17/03/2011	Active	NO
8	U66010MH2000PLC128403	Tata AIG Life Insurance Company Limited	Director	23/08/2000	23/08/2000	-	Active	NO
9	U85110MH2000PLC128425	Tata AIG General Insurance Company Limited	Nominee director	24/08/2000	24/08/2000	-	Active	NO
10	L72200AP1975PLC001970	CMC Limited	Director	16/10/2001	16/10/2001	4/01/2010	Active	NO
11	L64200MH1986PLC039266	Tata Communications Limited	Director	1/07/2002	1/07/2002	26/06/2007	Active	NO
12	U72200TN2003PTC050510	Speech And Software Technologies (India) Private Limited	Director	13/03/2003	13/03/2003	-	Active	NO
13	U92120MH2001PLC130365	Tata Sky Limited	Director	6/02/2004	6/02/2004	-	Active	NO
14	U26921OR1958PLC000349	TRL Krosaki Refractories Limited	Director	2/03/2005	2/03/2005	-	Active	NO
15	U67120MH2005PLC155188	BSE Limited	Director	14/09/2007	9/11/2006	29/05/2010	Active	NO
16	U65990MH1991PLC060670	Tata Capital Limited	Director	17/07/2007	13/04/2007	-	Active	NO
17	L99999MH1863PLC000002	Bombay Burmah Trading Corporation Limited	Director	30/05/2007	30/05/2007	14/01/2011	Active	NO
18	L22210MH1995PLC084781	Tata Consultancy Services Limited	Director	2/07/2010	5/01/2010	-	Active	NO
19	L17120MH1879PLC000037	The Bombay Dyeing And Manufacturing Company Limited	Director	11/08/2010	1/06/2010	-	Active	NO
20	U72200AP2004PLC042926	Viom Networks Limited	Additional director	18/03/2011	18/03/2011	-	Active	NO
21	U63013DL2004PLC217305	Go Airlines (India) Limited	Director	21/06/2011	21/06/2011	-	Active	NO

Name :

Mr. Michael J. Whitwell

Designation :

Director

Address :

Mimbridge House, Philpot Lane, Chobham, Surry, Gu 24 8AP, England, UK.

Date of Birth/Age :

23.03.1953

Date of Appointment :

30.12.2008

DIN No.:

02462812

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	U85110MH2000PLC128425	Tata AIG General Insurance Company Limited	Nominee director	9/07/2009	30/12/2008	Active	NO

Name :

Mr. Gaurav D Garg

Designation :

Managing Director

Address :

Kismat, Perry Cross Road, Bandra, Mumbai – 400 050, Maharashtra, India

Date of Birth/Age :

20.01.1964

Date of Appointment :

01.07.2007

DIN No.:

01578546

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	U85110MH2000PLC128425	Tata AIG General Insurance Company Limited	Managing director	1/07/2010	1/07/2007	Active	NO

Name :

Mr. Brajdas Shyamdas Banerjee

Designation :

Director

Address :

J-503, Satellite Garden II, Film City Road, Gen. A K Vaidya Marg, Goregaon (East), Mumbai – 400 063, Maharashtra, India

Date of Birth/Age :

14.10.1941

Date of Appointment :

26.03.2009

DIN No.:

00064354

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	L36992MH1948PLC014083	Rallis India Limited	Director	15/06/2004	15/06/2004	Active	NO
2	U85110MH2000PLC128425	Tata AIG General Insurance Company Limited	Director	9/07/2009	26/03/2009	Active	NO

Name :

Mr. Ashok Soni

Designation :

Additional Director

Address :

Kum Kum, 3^rd Floor, 50 A, G. Deshmukh Marg, Mumbai – 400 026, Maharashtra, India

Date of Birth/Age :

23.04.1945

Date of Appointment :

26.10.2009

DIN No.:

00007126

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	U67120MH1983PLC031632	Simto Investment Co Limited	Director	28/04/2000	28/04/2000	20/04/2010	Active	NO
2	L29308MH1954PLC009371	Voltas Limited	Managing director	25/09/2000	25/09/2000	23/04/2010	Active	NO
3	L29269TZ1973PLC000680	Lakshmi Automatic Loom Works Limited	Director	19/10/2001	19/10/2001	11/06/2009	Active	NO
4	U85110MH2000PLC128425	Tata AIG General Insurance Company Limited	Additional director	26/10/2009	26/10/2009	-	Active	NO

Name :

Mr. Farokh Nariman Subedar

Designation :

Additional Director

Address :

1, Wadia Building, 6 Babulnath Road, Mumbai – 400 007, Maharashtra, India

Date of Birth/Age :

24.09.1955

Date of Appointment :

26.10.2009

DIN No.:

00028428

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	U63090MH1988PTC049519	Tej Transportation Private Limited	Director	31/07/1991	31/07/1991	14/09/2010	Active	NO
2	U51909MH1957PLC010942	Tata Services Limited	Director	14/02/1997	14/02/1997	-	Active	NO
3	U65990MH1991PLC060670	Tata Capital Limited	Director	11/03/1997	11/03/1997	-	Active	NO
4	U74999MH1922PLC001030	Ewart Investments Limited	Director	19/06/1997	19/06/1997	-	Active	NO
5	U67120MH1992PLC066160	Panatone Finvest Limited	Director	30/09/1998	30/09/1998	-	Active	NO
6	U63020MH1970PLC014572	CHEMICAL TERMINAL Trombay Limited	Director	1/10/1999	1/10/1999	31/03/2007	Active	NO
7	U74210MH1999PLC123010	Tata Consulting Engineers Limited	Director	10/12/1999	10/12/1999	-	Active	NO
8	U51100MH1996PTC102142	Global Information Services Private Limited	Nominee director	2/03/2001	2/03/2001	30/06/2010	Active	NO
9	U99999MH1942PLC003573	Tata Housing Development Company Limited	Director	19/03/2002	19/03/2002	30/09/2008	Active	NO
10	U65990MH1999PTC118686	Zoroastrian Investment Corporation Private Limited	Director	1/06/2003	1/06/2003	-	Active	NO
11	U92120MH2001PLC130365	Tata Sky Limited	Director	6/02/2004	6/02/2004	-	Active	NO
12	U51900MH1962PLC012528	Tata International Limited	Director	12/08/2004	12/08/2004	19/09/2008	Active	NO
13	U11100MH1993PLC134095	Tata Petrodyne Limited	Director	21/02/2005	21/02/2005	-	Active	NO
14	L67200MH1937PLC002622	Tata Investment Corporation Limited	Director	11/03/2005	11/03/2005	-	Active	NO
15	U74140MH2006PLC164217	Tata Pension Management Limited	Director	31/08/2006	31/08/2006	29/06/2007	Active	NO
16	U51900MH2006PLC159776	Computational Research Laboratories Limited	Director	6/08/2007	17/11/2006	30/09/2007	Active	NO
17	U70102MH2007PLC168300	Tata Realty and Infrastructure Limited.	Director	2/03/2007	2/03/2007	10/12/2008	Active	NO
18	U22122DL1970PTC092640	Tata McGraw Hill Education Private Limited	Director	6/06/2008	7/08/2007	-	Active	NO
19	U74999MH1924NPL001128	Bombay Chamber Of Commerce And Industry	Director	26/06/2009	26/06/2009	14/06/2011	Active	NO
20	U85110MH2000PLC128425	Tata AIG General Insurance Company Limited	Additional director	26/10/2009	26/10/2009	-	Active	NO
21	U74900MH2010PLC198635	TS Investments Limited	Director	7/01/2010	7/01/2010	7/04/2011	Active	NO
22	U67100MH2010PLC210201	Tata Capital Financial Services Limited	Director	5/09/2011	26/03/2011	-	Active	NO

Name :

Mr. Sriram Yellagarda

Designation :

Finance Director

Name :

Mr. Vikram Tandon

Designation :

Human Resources Director

KEY EXECUTIVES

Name :	Mr. Kurush J Daruwalla
Designation :	Secretary
Address :	A, Wassiamal Building 387 Grant Road, Mumbai – 400 007, Maharashtra, India.
Date of Birth/Age :	07.03.1960
Date of Appointment :	01.12.2000
PAN No.:	AFNPD1987K
Name :	Mr. Mohit Goel
Designation :	Marketing Manager
Name :	Mr. B G Pal
Designation :	Head of Information Technology
Name :	Mr. Kedar
Designation :	Finance Controller
Name :	Mr. Bankim Mapara
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 03.08.2011

Names of Shareholders	No. of Shares
Tata Sons Limited, India	270099400
Tata Sons Limited, India Jointly with Ishaat R. Hussain	100
Tata Sons Limited, India Jointly with E N Kapadia	100
Tata Sons Limited, India Jointly with Farrokh N Subedar	100
Tata Sons Limited, India Jointly with C V Manoj Kumar	100
Chartis Memsa Holding INC, UAE	94900000
Tata Sons Limited, India Jointly with Farrokh K. Kavarana	100
Tata Sons Limited, India Jointly with Kersi R. Bhagat	100
Total	365000000

Equity Share Breakup (Percentage of Total Equity)

As on 03.08.2011

Category	Percentage
Foreign holdings (Foreign institutional investor (s), Foreign companie (s) Foreign financial institution (s), Non-resident Indian (s) or Overseas corporate bodies or Others)	26.00
Bodies corporate	74.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Providing Insurance Services and Loan Services for Education, Home and Business.
Services :	· Business Loan Services · Insurance Services · Education Loan Services · Loan Services · Home Loan Services

GENERAL INFORMATION

No. of Employees :	Not Available
Bankers :	Not Available

Banking Relations :	--
Auditors :
Name 1 :	Kalyaniwalla and Mistry Chartered Accountant
Address :	Kalpataru Heritage, 127 Mahatma Gandhi Road, Mumbai – 400 001, Maharashtra, India
PAN No.:	AAAFK7554R
Name 2 :	N M Rajaji and Company Chartered Accountant
Address :	6^th Floor, Universal Insurance Building, P M Road, Fort, Mumbai – 400 001, Maharashtra, India
PAN No.:	AAAFN4217G
Name 3 :	Walker Chandiok and Company Chartered Accountant
Address :	Engineering Centre, 6^th Floor, 9, Mathew Road, Opera House, Mumbai – 400 004, Maharashtra, India
Name 4 :	A F Ferguson Associates C/o Deloitte, Haskins and Sells Chartered Accountant
Address :	12, Annie Besant Road, Opp. Shiv Sagar Estate, Worli, Mumbai – 400 018, Maharashtra, India
Holding Company :	Tata Sons Limited CIN No.: U99999MH1917PLC000478
Fellow Subsidiaries : (As on 31.03.2010)	Computational Research Laboratories Limited Concept Marketing and Advertising Limited E-Next Financials Private Limited Ewart Investment Limited Ewart Investment Private Limited Infiniti Retail Limited Panatone Finvest Limited Tata Ag. Zug] Tata AIg Life Insurance Company Limited Tata Asset Management (Mauritius) Private Limited Tata Asset Management Limited Tata Business Support Services Limited (formerly – E2E Serwiz Solutions Limited) Tata Capital Limited ( Formerly known as Primal Investment and Finance Limited Tata Capital Markets Limited Trif Investments Management Limited Tata Internet Services Limited Tata Investment Corporation Limited Tata Limited, London Tata Pension Management Limited Tata Petrodyne Limited Tata Securities Limited Tata Sky Limited Tata Teleservices (Maharashtra) Limited Tata Teleservices Limited Tata Trustee Company Private Limited TCE Consulting Engineers Limited THDC Limited Wireless – TT Info services Limited Tata Realty And Infrastructure Limited Ahinsa Realtors Private Limited Navinya Buildcon Private Limited Pioneer Infratech Private Limited Trif Gandhinagar Projects Private Limited Trif Hyderabad Projects Private Limited Trif Infrastructure Private Limited Trif Kochi Projects Private Limited Trif Kolkata Projects Private Limited Trif Property Development Private Limited Trif Real Estate And Development Private Limited Trif Trivandrum Projects Private Limited Trill Airport Developers Limited Trill construction Limited Trill Developers Limited Tata Consultancy Services Limited Tata America International Corporation CMC Limited CMC Americas Inc. Aponline Limited Wti Advanced Technology Limited Tata Consultancy Sevices Asia Pacific Private Limited Tata Consultancy Services, Malaysia Send Bhd Tata Consultancy Services Japan Limited Tata Infromation Technology (Shanghai) Company Limited TCS Ibero America Sa TCS Solution Center S.A TCS Argentina S.A Tata Consultancy Services Do Brazil Desenvolvimento De Services Limited Tata Consultancy Services De Mexico Sa De CV TCS Inversiones Chile Limited, Chile Tata Consltancy Services De Espana Sa Tata Consultancy Services Do Brasil Limiteda Tata Consultancy Services Chile Sa Tata Consultancy Services, Deutschland Gmbh Tata Consultancy Services, Netherlands Bv Tata Consultancy Services, Sverige Ab It Consulting company Tata Consultancy Services, Belgium Sa TCS Italia Sri Diligenta Limited TCS Fns Private Limited Tata Consultancy Services Portugal Unipesoal Limited, A Swedish Indian It Resources Ab Tata Consultancy Services Bpo Chile, Sa TCS Finacial Solutions Australia Holdings Private Limited TCS Financial Solutions Australia Private Limited Financial Network Services (Europe) Plc Pt. Financial Network Services Financial Network Services (Africa) (Private) Limited Financial Network Services (H.K) Limited Financial Network Services Malaysia Sdn Bhd Syscrom S.A Pentacrom S.A Pentacrom Services S.A Custodia De Documentos Inters Limited Tata Consultancy Services Luxembourg SA Exigenix Canada, Inc Tata Infotech Deutschland Gmbh Tata Infotech Singapore (Private) Limited C-Edge Technologies Limited MP Online Limited Tata Consultancy Services Switzerland Limited Tks – Services S.A Quartz Software Technology S.A Tata Consultancy Services Financial Solutions Limited Tata Consultancy Services France Sas TCS Management Pty Limited Tata Consultancy Services (China) Company Limited Pt. Tata Consultancy Services Indonesia Tata Solution Center Sa Financial Network Services (Beijing ) company Limited Gt Participacoes S.A Tata Consultancy Services Morocco Sari Au Tata Consultancy Services (Africa) (Pty) Limited Tata Consultancy Services (South Africa) (Pty) Limited TCS Financial Management LLC

CAPITAL STRUCTURE

As on 03.08.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
450000000	Equity Share	Rs.10/- Each	Rs.4500.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
365000000	Equity Share	Rs.10/- Each	Rs.3650.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		3650.000	3000.000	3000.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		413.268	459.106	392.149
4] (Accumulated Losses)		0.000	0.000	0.000
5] Fair Value Change Account		(36.205)	110.675	(44.820)
NETWORTH		4027.063	3569.781	3347.329
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		0.000	0.000	0.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		4027.063	3569.781	3347.329
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		328.532	293.258	275.453
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		13624.056	8559.692	7144.330
DEFERREX TAX ASSETS		118.868	98.791	74.819
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.000	0.000	0.000
	Cash & Bank Balances	532.311	641.729	466.622
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	2271.899	3209.625	2914.854
Total Current Assets		2804.210	3851.354	3381.476
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	8379.903	446.761	334.113
	Other Current Liabilities		5759.545	3980.086
	Provisions	4468.700	3027.008	3214.550
Total Current Liabilities		12848.603	9233.314	7528.749
Net Current Assets		(10044.393)	(5381.960)	(4147.273)
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		4027.063	3569.781	3347.329

PROFIT & LOSS ACCOUNT

	31.03.2011
Gross Premium Written	12130.000
Net Premium Written	7860.000
Net Earned Premium	6470.000
Net Claims incurred	3740.000
Net Commission	180.000
Expenses of management	2940.000
Investment Income	960.000
Profit before tax	560.000
Motor Pool losses	(770.000)
Profit / (Loss) before tax	(210.000)
Profit / (Loss) after tax	(50.000)

	PARTICULARS		31.03.2010	31.03.2009
	SALES
		Operating Profit/ Loss	(151.722)	(82.643)
		Income From Investment	265.711	228.410
		Other Income	4.000	8.451
		TOTAL	117.989	154.218
Less	EXPENSES
		Provisions for (Other than taxation)	0.141	51.245
		Other Expenses	0.036	8.019
		Prior Period Adjustment	70.000	0.000
		TOTAL	70.177	59.264
	PROFIT BEFORE TAX		47.812	94.954
Less	TAX		(19.145)	52.551
	PROFIT AFTER TAX		66.957	42.403
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		240.912	349.746
Less	APPROPRIATIONS
		Contingency reserve for Unexpired Risks	0.000	151.237
	BALANCE CARRIED TO THE B/S		307.869	240.912
	Basic/ Diluted Earnings Per Share (Rs.)		0.22	0.16

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	NA	56.75	27.50
Net Profit Margin (PBT/Sales)	(%)	NA	40.52	61.57
Return on Total Assets (PBT/Total Assets}	(%)	(6.70)	1.15	2.60
Return on Investment (ROI) (PBT/Networth)		(0.05)	0.01	0.03
Debt Equity Ratio (Total Liability/Networth)		3.19	2.59	2.25
Current Ratio (Current Asset/Current Liability)		0.22	0.42	0.45

LOCAL AGENCY FURTHER INFORMATION

DETAILS OF SUNDRY CREDITORS

Particulars	31.03.2011 (Rs. In Millions)	31.03.2010 (Rs. In Millions)	31.03.2009 (Rs. in millions)
Sundry Creditors	Details are not available	446.761	334.113

INDUSTRY OVERVIEW

The financial year 2010-11 saw the Indian Insurance Industry grow in excess of 8% However the spectre of inflation continues to cause concern for the overall health and growth of the economy.

Against this backdrop the General Insurance Industry grew by 22 3% with the Cross Premium Income rising from Rs.383000.000 millions in 2009.-10 to Rs.469000.000 millions in the current year. The market share of' private insurers (including monoline health insurers) increased marginally from 40.1% in the previous year ended 31^st Mach 2010 so 40.'7% for the year ended 31^st March 2011. The Company’s market share of the Indian general insurance market stood at 2.6% and 6.3% amongst the general insurance companies in the private sector.

In-spite of the growth in the top line, the Industry did not show underwriting profits during the year. This was due to the market being in a soft cycle, which gave rise to severe competition a d a price war. This coupled with lower inward reinsurance commission and higher claims ratios led the market to an overall underwriting loss position. The year saw twenty - four general insurance companies operating in the market.

OPERATIONAL REVIEW

The Gross Premium Written of Rs.12130.000 millions in the year represents a 35% increase over the 2009-10 Gross Premium of Rs.9010.000 millions. The Net premium written for the year was Rs.7860.000 millions compared to Rs.5090.000 millions in the previous year. The increase of 55% was on account of the increase in business, change in business mix and higher retentions. The total incurred claims for the year stood at Rs.3740.000 millions as against Rs.3140.000 millions in the previous year. In-spite of the increase in business, the loss ratios of the Company were maintained at 58%. The Company's focus on quality underwriting held it in good stead. It also ensured that that the quality of the Company’s portfolio remained one of the best amongst the general insurance companies.

The Company generated a profit on its own portfolio of Rs.560.000 millions as compared to Rs.200.000 millions in the previous year. However the Company had to take a charge of Rs.770.000 millions on account of the retroceded motor pool portfolio resulting in a loss for the year of Rs.210.000 millions.

MOTOR POOL

The Indian Motor Third Party Insurance Pool (IMTPIP) came info existence from 1^st April 2007. The Company, together with other direct general insurance companies, participates in the Indian Motor Third Party Insurance Pool (IMTPIP) though a multilateral reinsurance arrangement, executed by all direct general insurance companies. The IMTPIP covers reinsurance of the entire third party risks of specified commercial motor vehicles (specified risks). Amounts collected as premium in respect of specified risks are ceded at 100% of such premium, to the IMIPIP.

The Company's share of premiums, claims, reinsurance commissions, expenses and investment income of the pool is recorded as inward reinsurance business, based on the returns submitted by General Insurance Corporation who acts as the "Pool Manager", under the respective heads of income or expense as the case may be and included within the Motor Third Party sub-segment of the Miscellaneous Revenue Account.

In Mach 2011 Insurance Regulatory and Development Authority (IRDA) issued an order asking all general insurers to value the Motor Pool portfolio at an Ultimate Loss Ratio of 153% for the years 2007-08 to 2010.11 Consequent to the same the Company had to take an additional charge of Rs.460.000 millions in its books of accounts for the period 2007-08 to 2009-10. This resulted in the Company running up a loss for the current financial year.

BACKGROUND

The Company was incorporated on August 24, 2000 as a Company under the Companies Act, 1956 (the 'Act'). The shareholders of the Company are Tata Sons Limited (74%) and Chartis MEMSA Holdings Inc. [Formerly known as AIG MEMSA Holdings Inc.] (26%). The Company is registered with the lnsurance Regulatory and Development Authority ('IRDA') and has obtained regulatory approval from IRDA to undertake General lnsurance business on January 22, 2001.

The IRDA has renewed the Company's Certificate of Registration to sell general insurance products for the financial year 2010-1 1 vide its certificate of renewal of registration dated March 10, 2010.

FIXED ASSETS

· Goodwill

· Intangible (Software)

· Land – Freehold

· Leasehold Improvements

· Buildings

· Furniture and Fittings

· Information Technology Equipment

· Vehicles

· Office Equipment

· Others

BALANCE SHEET FOR THE QUARTER ENDED JUNE 30, 2011

SOURCES OF FUNDS		30.06.2011
SHAREHOLDERS FUNDS
1] Share Capital		3650.000
2] Share Application Money		0.000
3] Reserves & Surplus		538.058
4] (Accumulated Losses)		0.000
5] Fair Value Change Account		(98.331)
NETWORTH		4089.727
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.000
TOTAL BORROWING		0.000
DEFERRED TAX LIABILITIES		0.000
TOTAL		4089.727
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		337.352
Capital work-in-progress		0.000
INVESTMENT		15737.397
DEFERREX TAX ASSETS		59.217
CURRENT ASSETS, LOANS & ADVANCES		0.000
	Inventories	0.000
	Sundry Debtors	0.000
	Cash & Bank Balances	(155.666)
	Other Current Assets	0.000
	Loans & Advances	2204.779
Total Current Assets		2049.113
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	9122.165
	Other Current Liabilities	0.000
	Provisions	4971.187
Total Current Liabilities		14093.352
Net Current Assets		(12044.239)
MISCELLANEOUS EXPENSES		0.000
TOTAL		4089.727

PROFIT AND LOSS ACCOUNT FOR THE QUARTER ENDED JUNE 30, 2011

	PARTICULARS		30.06.2011
	SALES
		Operating Profit/ Loss	108.524
		Income From Investment	75.048
		Other Income	0.989
		TOTAL	184.561
Less	EXPENSES
		Other Expenses	0.150
		TOTAL	0.150
	PROFIT BEFORE TAX		184.411
Less	TAX		59.651
	PROFIT AFTER TAX		124.760
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		262.061
	BALANCE CARRIED TO THE B/S		386.821

KEY RATIOS

PARTICULARS		30.06.2011
PAT / Total Income	(%)	67.60
Net Profit Margin (PBT/Sales)	(%)	99.92
Return on Total Assets (PBT/Total Assets}	(%)	7.73
Return on Investment (ROI) (PBT/Networth)		0.05
Debt Equity Ratio (Total Liability/Networth)		3.45
Current Ratio (Current Asset/Current Liability)		0.15

WEB DETAILS

BUSINESS DESCRIPTION

Subject is a joint venture between the Tata Group (India) and the American International Group (AIG). Subject offers a complete range of automobile, homeowners, personal accident, travel, energy, marine, property, casualty and several specialized financial lines of insurance. Subject products include a broad array of life insurance coverage to both individuals and groups. For groups the company has Life products whereas for individuals, Subject has term products, endowment products as well as money-back products. The Tata Group holds a 74% stake in the two insurance ventures while AIG holds the remaining 26%.

PRESS RELEASE

THOMAS COOK SURGES ON THE BSE

05 July 2011

Thomas Cook is currently trading at Rs. 51.20, up by 0.75 points or 1.49% from its previous closing of Rs. 50.45 on the BSE. The scrip opened at Rs. 50.50 and has touched a high and low of Rs. 52.45 and Rs. 50.25 respectively. So far 1,26,051 shares were traded on the counter.The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 77.75 on 13-Sep-2010 and a 52 week low of Rs. 43.00 on 10-Feb-2011.Last one week high and low of the scrip stood at Rs. 52.45 and Rs. 48.00 respectively. The current market cap of the company is Rs.10691.400 millions. The promoters holding in the company stood at 77.18% while Institutions and Non-Institutions held 3.14% and 19.69% respectively.Thomas Cook Group Plc on July 5, 2011, celebrates 170th anniversary of the first package holiday trip, which was a 12 mile rail journey for 500 people from Leicester to Loughborough costing one shilling. Thomas Cook (India) (TCIL) started its operations in India with its first office being set up in Mumbai in 1881. Currently TCIL, India's largest travel and travel related financial services company offer its customers a network of 202 locations across 71 cities and has a strong partner association of over 270 agents. TCIL provides different travelling destinations for domestic inbound/ outbound holidays. The company operates over 40 Group Inclusive Tours (GIT) spread across 5 continents. Under corporate travel management the company provides travel solutions and travel budgets of several large national and multinational companies. The company is leading foreign exchange provider offering wide range of product and services. TCIL is the only travel company that has license to sell insurance co-brand travel insurance products with TATA AIG General Insurance Company.

THOMAS COOK CELEBRATES 170TH ANNIVERSARY OF FIRST TRAVEL TRIP

05 July 2011

Thomas Cook Group Plc on July 5, 2011, celebrates 170th anniversary of the first package holiday trip, which was a 12 mile rail journey for 500 people from Leicester to Loughborough costing one shilling. Thomas Cook (India) (TCIL) started its operations in India with its first office being set up in Mumbai in 1881. Currently TCIL, India's largest travel and travel related financial services company offer its customers a network of 202 locations across 71 cities and has a strong partner association of over 270 agents. TCIL provides different travelling destinations for domestic inbound/ outbound holidays. The company operates over 40 Group Inclusive Tours (GIT) spread across 5 continents. Under corporate travel management the company provides travel solutions and travel budgets of several large national and multinational companies. The company is leading foreign exchange provider offering wide range of product and services. TCIL is the only travel company that has license to sell insurance co-brand travel insurance products with TATA AIG General Insurance Company.

DESIGNED FOR UNIQUE NEEDS

01 February 2011

We have harped on it time and again, and we'll repeat it once more: "Insurance is more than just another tax-saving tool, it's an essential financial instrument." Fortunately, increasing awareness is prompting people to buy life and health covers. However, there are many other aspects in life that we leave susceptible to financial disaster. Changing lifestyles, such as e-banking and trips abroad, are also increasing the risk of fraud.

"People often wish for certain safeguards that would bring more safety to their everyday life," says Gaurav D. Garg, MD and CEO, Tata AIG General Insurance Company.

To cover specific needs, insurance companies are formulating innovative policies for specific requirements. Here are a few you can pick to customise your cover.

Insure Your Identity With a large number of transactions happening in the virtual world, stealing your identity using your credit card details, PAN number or other IDs has become much easier. Trends such as site-cloning, phishing, fake merchant sites and bank-account takeovers have become common, making your monetary sources easily accessible to offenders. Scary, isn't it?

Tata AIG's Identity Theft Policy may not be able to shield you against such crimes, but it does reduce your troubles partly by covering expenses that you may incur while resolving the case. The expenses can be filled up to 12 months after the initial claim is made. These include reimbursement for the time taken off from work and remuneration lost as well as legal expenses. Also, the company will compensate for any legal obligation you might have to pay in case of misuse of your credit account.

Cover for your Cash You've just withdrawn a large amount of cash from an ATM to pay for an essential surgery, when suddenly you're robbbed. To protect yourself from such a dire situation get the 'Money Insurance Policy' that is sold by New India Assurance and National Insurance. The policy insures loss of money while in transit between the insured's premises and a bank, post office or other specified places due to robbery, theft or an unexpected reason. The money can be in any form-cash, bank drafts, treasury notes, cheques, postal orders, etc. The policy also covers loss by burglary or house-breaking when money is kept at any of your secured premises and can be extended to include the risk of infidelity of the employees, terrorism and disbursement risk. However, there are exclusions such as losses due to error and omission or those covered by other policies.

Fine Arts Policy If you are an avid art afficionado, a Fine Arts Insurance policy is a must-have for you. Artworks are one of the few items not covered under your home insurance policy. Moreover, home insurance will cover only burglary and fire. On the other hand, art insurance is an all-risk cover. It covers accidental loss or damage, both on location as well as in transit. "It not only covers loss due to theft, which is what one might think is most likely to happen, but also freak accidents. For instance, we have had claims where an art piece was damaged by an insurer's relative in a fit of rage," says S. Narayanan, MD and CEO, Iffco-Tokio General Insurance. The company, in collaboration with an international company, Hiscox, provides cover to all kinds of artworks including sculptures, antiques, rare objects and other collectibles.

Shield for Shoppers You are thrilled with your latest purchase-the coolest and most expensive mobile phone-only to discover a week later that your colleague has bought the same model at a price 20% less than yours. Despite all the research and nettrawling for the best deals, you may make a bad bargain. Don't worry, you can now guard yourself against paying a higher price. Tata AIG's 'Price Protection Policy' covers the price difference between the payment you make from your credit/debit card for an item and a lower printed or advertised price by the manufacturer or dealer for the same item, within 30 days of purchase. There is a Purchase Protection Policy too, which ensures that defects in the product do not cause financial distress. The policy also protects the item bought against loss due to burglary, theft or accidental damage till 90 days from the date of purchase.

Professional Safety This is sort of an extension of the traditional doctors' indemnity policy. As professional errors are not just limited to medical practitioners, the Professional Indemnity Policy offered by United India Assurance, National Insurance and United India Insurance has extended the umbrella to include other groups, such as engineers, architects, chartered accountants, lawyers, interior decorators and management consultants. The policy provides cover for third-party legal liability arising out of errors and omissions or negligence while rendering their professional services. The sum insured or the limit of indemnity has two caps. One is the maximum amount payable per accident or 'any one accident' (AOA) limit, while the other is payable per year or the 'any one year' (AOY) limit. In most cases, the AOA limit is restricted to 25% of the AOY limit.

Travel Plan Top-up Tata AIG's Personal Trip Effects Cover can be a perfect add-on to your existing travel insurance, especially if you are carrying vital documents or expensive items. "A standard travel insurance policy covers the risk of loss of baggage which has been checked in with an airline for the duration of the air travel. Under our policy, you get protection during the entire trip for the loss, theft or accidental damage to your belongings, important documents, expensive items and the cash that you carry," explains Garg. Moreover, the policy reimburses additional travel and accommodation expenses incurred owing to a lost or stolen passport while abroad, up to a certain limit. There is also a 'personal trip liability cover' which insures you against third-party liability during the tour, which, again, may not be included in a regular travel policy.

TATA AIG GENERAL INSURANCE INTRODUCES WELLSURANCE RANGE

24 December 2010

Tata AIG General Insurance Company has launched a new health insurance range under the name "Wellsurance", which is a combination of Health Insurance and Wellness Benefits. Tata AIG's Wellsurance is a unique health insurance offering that not only provides financial coverage to customers but also encourages them to lead a healthy life. Tata AIG Wellsurance will influence customers' lifestyles and provide value through its range of product and wellness benefits. The insurance major has introduced unique products to cater to different customer segments such as Wellsurance Executive targeted at the young working men, Wellsurance Family targeting the individuals and their families and Wellsurance Woman targeting the Women of today.

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.48.82
UK Pound	1	Rs.75.48
Euro	1	Rs.66.10

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	6
--PROFITABILIRY	1~10	4
--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	NO
--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		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.