MIRA INFORM REPORT

Report Date :

08.02.2012

Note : Correct name of the company is ‘SCHNEIDER ELECTRIC INFRASTRUCTURE LIMITED’

Note 1 : Given address of the company could not be confirmed

IDENTIFICATION DETAILS

Name :	SCHNEIDER ELECTRIC INFRASTRUCTURE LIMITED (w.e.f. 08.12.2011)
Formerly Known As :	SMARTGRID AUTOMATION DISTRIBUTION AND SWITCHGEAR LIMITED
Registered Office :	Milestone 87, Vadodara, Halol Highway, Village Kotambi, Post Office Jarod, Vadodara - 391510, Gujarat
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	12.03.2011
Com. Reg. No.:	04-064420
Capital Investment/ Paid-up Capital:	Rs.1.000 million
CIN No.: [Company Identification No.]	U31900GJ2011PLC064420
PAN No.: [Permanent Account No.]	AAPCS6078Q
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	The Company has a plan to start its operations to manufacture, design, build and service electricity distribution products and systems
No. of Employees:	Not Available

RATING & COMMENTS

MIRA’s Rating :

NB

RATING		STATUS	PROPOSED CREDIT LINE
-	NB	New Business	-

Maximum Credit Limit :	USD 3300
Status :	New Company
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is a relatively new company and yet to establish itself gradually. Business is active. Payments are unknown. The company can be considered for business dealings on a safe and secured trade terms and conditions.

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

ECGC Country Risk Classification List – September 30, 2011

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

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

LOCATIONS

Registered Office :	Milestone 87, Vadodara, Halol Highway, Village Kotambi, Post Office Jarod, Vadodara - 391510, Gujarat, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	Conjeevaramsanthanam.ashokkumar@sehneider-electric.com
Website :	www.schneider-infra.in

DIRECTORS

As on 05.12.2011

Name :

Mr. Oliver Pascal Marius Blum

Designation :

Director

Address :

3/35, Shanti Niketan, New Delhi -110021, India

Date of Birth/Age :

13.10.1970

Date of Appointment :

12.03.2011

DIN :

02075443

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	U74899DL1995PTC065815	SCHNEIDER ELECTRIC INDIA PRIVATE LIMITED	Managing director	1/1/2008	1/1/2008	-	Active	NO
2	U31100DL1987PTC205171	LK INDIA PRIVATE LIMITED	Managing director	1/2/2008	1/2/2008	-	Amalgamated	NO
3	U35303KA2008FTC045130	CST SENSORS INDIA PRIVATE LIMITED	Director	30/07/2009	28/04/2008	-	Active	NO
4	U99999MH1970GAP014629	INDIAN ELECTRICAL AND ELECTRONICS MANUFACFTURERS ASSOCIATION	Director	18/09/2008	18/09/2008	25/09/2010	Active	NO
5	U03312DL1988PTC208639	SCHNEIDER ELECTRIC CONZERV INDIA PRIVATE LIMITED	Managing director	1/1/2010	8/6/2009	-	Amalgamated	NO
6	U31909DL2010PTC204196	SCHNEIDER ELECTRIC FUSEGEARS INDIA PRIVATE LIMITED	Director	16/06/2010	16/06/2010	-	Active	NO
7	U51395DL2004PTC125366	UNIFLAIR INDIA PRIVATE LIMITED	Director	21/12/2010	21/12/2010	-	Active	NO
8	U65921HR2010PLC041756	ENERGY GRID AUTOMATION TRANSFORMERS AND SWITCHGEARS INDIA LIMITED	Director	29/12/2010	29/12/2010	-	Active	NO
9	U31900GJ2011PLC064420	SCHNEIDER ELECTRIC INFRASTRUCTURE LIMITED	Director	12/3/2011	12/3/2011	-	Active	NO
10	U74899DL1988PTC032019	LUMINOUS POWER TECHNOLOGIES PRIVATE LIMITED	Additional director	3/6/2011	3/6/2011	-	Active	NO

Name :

Mr. Alexandre Henri Tagger

Designation :

Director

Address :

S - 502, Greater Kailash – I, New Delhi – 110048, India

Date of Birth/Age :

12.10.1971

Date of Appointment :

12.03.2011

DIN :

03194044

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	U65921HR2010PLC041756	ENERGY GRID AUTOMATION TRANSFORMERS AND SWITCHGEARS INDIA LIMITED	Director	29/12/2010	29/12/2010	-	Active	NO
2	L31102DL1957PLC193993	ALSTOM T AND D India Limited	Director	4/5/2011	4/2/2011	12/12/2011	Active	NO
3	U31900GJ2011PLC064420	SCHNEIDER ELECTRIC INFRASTRUCTURE LIMITED	Director	12/3/2011	12/3/2011	-	Active	NO

Name :

Mr. Anil Chaudhry

Designation :

Director

Address :

7, Rue Vineuse, Paris, France – 75116

Date of Birth/Age :

11.03.1961

Date of Appointment :

12.03.2011

DIN :

03213517

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	U65921HR2010PLC041756	ENERGY GRID AUTOMATION TRANSFORMERS AND SWITCHGEARS INDIA LIMITED	Director	29/12/2010	29/12/2010	-	Active	NO
2	L31102DL1957PLC193993	ALSTOM T AND D INDIA LIMITED	Director	4/5/2011	4/2/2011	12/12/2011	Active	NO
3	U31900GJ2011PLC064420	SCHNEIDER ELECTRIC INFRASTRUCTURE LIMITED	Director	12/3/2011	12/3/2011	-	Active	NO

Name :

Mr. Graham Johnson

Designation :

Director

Address :

G- 5, Maharani Bagh, New Delhi – 110065, India

Date of Birth/Age :

02.06.1962

Date of Appointment :

12.03.2011

DIN :

03307443

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	U74140DL2011PTC212315	BHJ ENERGIE DYNAMIQUE CONSULTANTS PRIVATE LIMITED	Director	7/1/2011	7/1/2011	-	Active	NO
2	U31900GJ2011PLC064420	SCHNEIDER ELECTRIC INFRASTRUCTURE LIMITED	Director	12/3/2011	12/3/2011	16/12/2011	Active	NO

Name :

Mr. Prakash Kumar Chandraker

Designation :

Managing Director

Address :

A-440, Telecom City, B-9/6, Sector – 62, Noida – 201301, Uttar Pradesh, India

Date of Birth/Age :

11.01.1962

Date of Appointment :

16.12.2011

DIN :

05150366

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 05.12.2011)

Names of Shareholders	No. of Shares
Areva T and D India Limited, India	499994
Graham Johnson	1
Prakash Kumar Chandrakar	1
Sandeep Selot	1
Manish Gupta	1
Ravjeet Singh Rawal	1
Sanjay Mitra	1
Total	500000

(AS ON 05.12.2011)

Equity Share Breakup Category	Percentage
Bodies corporate	100
Total	100

BUSINESS DETAILS

Line of Business :

The Company has a plan to start its operations to manufacture, design, build and service electricity distribution products and systems

GENERAL INFORMATION

No. of Employees :	Not Available
Bankers :	Not Available
Facilities :	--

Banking Relations :	--
Auditors :
Name :	S.R Batliboi and Company Chartered Accountants
Address :	Golf View, Corporate Tower B, Sector 42, Sector Road, Gurgaon, Haryana- 122002, India
PAN No.:	AALFS0506L
Parent Company :	Areva T and D India Limited CIN : L31102DL1957PLC193993 Address 1 : E-48/7, Okhla Industrial Area, Phase – II, New Delhi – 110020, India
Ultimate Parent Company :	ALSTOM Sextant 5 SAS, France

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
250,000,000	Equity Share	Rs.2/- each	Rs.500.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
500,000	Equity Share	Rs.2/- each	Rs.1.000 million

500,000 equity shares of Rs. 2/- each Of the above: 500,000 equity shares are alloted to subscribers of Memorandum of Association. 499,994 equity shares are held by Areva T and D India Limited (the parent company) and balance equity shares are held by nominees of the parent.

As on 05.12.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
250,000,000	Equity Share	Rs.2/- each	Rs.500.000 millions

Issued, Subscribed & Paid-up Capital : Rs.478.208 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011
SHAREHOLDERS FUNDS
1] Share Capital		1.000
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		(0.154)
NETWORTH		0.846
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.000
TOTAL BORROWING		0.000
DEFERRED TAX LIABILITIES		0.000
TOTAL		0.846
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.000
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.023
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000
	Sundry Debtors	0.000
	Cash & Bank Balances	0.000
	Other Current Assets	0.000
	Loans & Advances	1.000
Total Current Assets		1.000
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	0.166
	Other Current Liabilities	0.011
	Provisions	0.000
Total Current Liabilities		0.177
Net Current Assets		0.823
MISCELLANEOUS EXPENSES		0.000
TOTAL		0.846

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011
	SALES
		Income	0.000
		Other Income	0.000
		TOTAL (A)	0.000
Less	EXPENSES
		Administrative selling other expenses	0.177
		TOTAL (B)	(0.177)
	PROFIT/[LOSS] BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		(0.177)
Less	FINANCIAL EXPENSES (D)		0.000
	PROFIT/[LOSS] BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(0.177)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.000
	PROFIT / [LOSS] BEFORE TAX (E-F) (G)		(0.177)
Less	TAX (H)		(0.023)
	PROFIT / [LOSS] AFTER TAX (G-H) (I)		(0.154)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.000
	BALANCE CARRIED TO THE B/S		(0.154)
	Earnings/Loss Per Share (Rs.)		(0.31)

KEY RATIOS

PARTICULARS		31.03.2011
Return on Total Assets (PBT/Total Assets}	(%)	(17.70)
Return on Investment (ROI) (PBT/Networth)		(0.21)
Debt Equity Ratio (Total Liability/Networth)		(0.21)
Current Ratio (Current Asset/Current Liability)		(5.65)

LOCAL AGENCY FURTHER INFORMATION

Operations :

During the period, the Company has incurred a loss of Rs.0.154 million. This is due to the fact that company is yet to commence its business activities.

Company Performance :

The company was incorporated on 12^th March 2011 and is yet to receive the Certificate of Commencement of Business.

The entire shareholding of the Company is held by AREVA T and D India Limited where by the Company is a wholly owned subsidiary of AREVA T and D India Limited.

Nature of Operations :

Smartgrid Automation Distribution and Switchgear Limited was Incorporated on March 12, 2011 under the Companies Act, 1956. The Company has a plan to start its operations to manufacture, design, build and service electricity distribution products and systems in near future. As on March 31, 2011 the Company is yet to start its operations.

Scheme of Arrangement for Demerger – Allotment of shares by the Company:

In accordance with the scheme of Arrangement for Demerger (“Scheme”) between AREVA T and D India Limited (“Transferor Company”) and Smartgrid Automation Distribution and Switchgear Limited (“Transferee Company” and now known as Schneider Electric Infrastructure Limited), duly approved by the Hon’ble High Courts of Gujarat and Delhi vide orders dated September 19, 2011 and October 24, 2011,respectively, the Company has made allotment on December 16,2011 to the Shareholders of the Transferor Company whose names were appearing in the register of members as on the record date viz. December 15, 2011.

The Shareholders of the Transferor Company as on the record date viz. December 15, 2011, have been issued and allotted 1(one) fully paid-up equity share of Rs.2 /- (Rupees two) each in the Transferee Company for every 1(one) fully paid-up equity share of Rs.2 /- (Rupees Two) each held by them in the transferor Company.

Upon the issuance and allotment of shares as aforesaid and in terms of the clause(s) 4.1 and 4.1.9 read with Clause 5.6 of the Scheme, the shares held by the Transferor Company and its nominees in the Transferee Company stands cancelled and liability if any of the transferor company stands extinguished. Accordingly the Transferee Company viz. Schneider Electric Infrastructure Limited (Earlier known as Smartgrid Automation distribution and Switchgear Limited) ceases to be subsidiary of the Transferor Company.

The Company is in the process of getting the shares listed in the Stock Exchanges (NSE, BSE and CSE), in terms of the Scheme.

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.48.91
UK Pound	1	Rs.77.30
Euro	1	Rs.64.11

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.