MIRA INFORM REPORT

Report Date :

16.01.2012

IDENTIFICATION DETAILS

Name :	RELIANCE COMMUNICATIONS INFRASTRUCTURE LIMITED (w.e.f. 07.03.2002)
Formerly Known As :	SUKHKATRA FINTRADE PRIVATE LIMITED
Registered Office :	H Block, 1^st Floor, Dhirubhai Ambani Knowledge City, Navi Mumbai – 400710, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	17.07.1997
Com. Reg. No.:	11-166329
Capital Investment / Paid-up Capital :	Rs.2010.200 Millions
CIN No.: [Company Identification No.]	U64203MH1997PLC166329
TAN No.: [Tax Deduction & Collection Account No.]	DELR10472A
PAN No.: [Permanent Account No.]	AAVVS2157H
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Promoters of Industrial Finance, Order Suppliers, Importers, Exporters, Merchants, Stockiest, Buyers, Sellers, Agents, Brokers, Commission Agents and Dealers.
No. of Employees :	300 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

A (58)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 121000000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established company having fine track. Financial position of the company appears to be sound. Trade relations are reported as fair. Business is active. Payments are reported to be regular 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.

INFORMATION DENIED BY

Management Non Co-operative

LOCATIONS

Registered Office :	H Block, 1^st Floor, Dhirubhai Ambani Knowledge City, Navi Mumbai – 400710, Maharashtra, India
Tel. No.:	91-22-30386286/22847006/30385010
Fax No.:	91-22-30376622
E-Mail :	hitesh.marthak@relianceada.com chawda@relianceada.com tulsi.dadlani@relianceada.com
Website :	http://www.relianceda.com
Corporate Office :	“Brindavan”, 2^nd Floor, Shree Ram Mils Premises, Ganpatrao Kadam Marg, Worli, Mumbai - 400013, Maharashtra, India
Branches :	Located at :- · Mumbai · Bangalore

DIRECTORS

As on 30.09.2011

Name :

Mr. Gautam Bhailal Doshi

Designation :

Director

Address :

B-131, Grand Paradi, August Kranti Marg, Mumbai – 400036, Maharashtra, India

Date of Birth/Age :

23.12.1952

Date of Appointment :

26.06.2005

DIN No.:

00004612

Other Directorship :

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
L65990TN1975PLC062634	Sterlite Industries (India) Limited	Director	29/06/2001	29/06/2001	-	Active	NO
L10889MH1957PLC010889	Garware Polyester Limited	Director	29/01/2004	29/01/2004	4/08/2008	Active	NO
U65999GJ2003PLC042560	Kojam Fininvest Limited	Director	17/03/2004	17/03/2004	-	Amalgamated	NO
U45200MH2003PLC140946	Sonata Investments Limited	Director	4/03/2005	4/03/2005	-	Active	NO
U64203MH1997PLC166329	Reliance Communications Infrastructure Limited	Director	26/06/2005	26/06/2005	-	Active	NO
U66010MH2001PLC167089	Reliance Life Insurance Company Limited	Director	16/06/2006	4/10/2005	5/04/2011	Active	NO
L29299MH1987PLC045446	Reliance MediaWorks Limited	Director	29/07/2006	7/10/2005	-	Active	NO
U74140MH1994PTC077688	Connect Capital Private Limited	Director	30/09/2006	10/10/2005	19/01/2010	Active	NO
U45200MH2006PLC161190	Reliance Asset Reconstruction Company Limited	Director	20/05/2008	17/04/2006	15/04/2009	Active	NO
U85199KA1999PTC025676	Medi Assist India TPA Private Limited	Director	11/07/2007	11/05/2006	1/04/2009	Active	NO
U51909MH2006GAP163022	Reliance Anil Dhirubhai Ambani Group Limited	Director	10/07/2006	10/07/2006	-	Active	NO
U72900MH2006PTC165881	Connect Infotain Private Limited	Director	29/11/2006	29/11/2006	-	Active	NO
U72200MH2000PLC163072	Reliable Internet Services Limited	Director	30/01/2007	30/01/2007	-	Amalgamated	NO
U32100MH1994PLC162841	Reliance Telecom Limited	Director	1/09/2007	30/01/2007	-	Active	NO
U65923MH2007PTC174326	Telecom Infrastructure Finance Private Limited	Director	30/09/2008	20/09/2007	-	Active	NO
L28992MH1998PLC113433	Piramal Glass Limited	Additional director	10/10/2007	10/10/2007	1/04/2008	Active	NO
U45203MH2005PLC153294	Reliance Big TV Limited	Director	12/09/2008	14/12/2007	-	Active	NO
L73100MH2001PLC132523	Piramal Life Sciences Limited	Director	22/08/2008	1/04/2008	-	Active	NO
U67190MH2008PTC183216	Reliance Home Finance Private Limited	Director	14/07/2009	1/07/2008	-	Active	NO
U80301MH2008NPL187591	Digital Bridge Foundation	Director	16/10/2008	16/10/2008	-	Active	NO
U29299PN2009PTC133536	Creative Ashtech Power Projects Private Limited	Additional director	13/04/2009	13/04/2009	30/06/2009	Active	NO
L64200MH2005PLC158355	Reliance Broadcast Network Limited	Director	31/08/2010	30/06/2009	-	Active	NO

Name :

Mr. Hasit Navinchandra Shukla

Designation :

Director

Address :

403, Sabita Co-operative Housing Society Limited, Plot No. 596, Cts F/38, 16^th Road, Bandra (West), Mumbai – 400050, Maharashtra, India

Date of Birth/Age :

28.08.1962

Date of Appointment :

13.08.2010

DIN No.:

00004549

Other Directorship :

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
U72900MH2001PLC131598	Reliance Infratel Limited	Director	23/07/2005	23/07/2005	30/07/2007	Active	NO
U64202AS2000PTC006035	Assam Network Private Limited	Director	10/08/2005	10/08/2005	-	Amalgamated	NO
U72900MH2000PTC125367	Reliance Infrastructure Finance Private Limited	Director	10/08/2005	10/08/2005	18/05/2010	Active	NO
U74999MH2004PTC150308	AAA Enterprises Private Limited	Director	30/09/2006	11/10/2005	-	Active	NO
U74999MH2005PTC150536	AAA Project Ventures Private Limited	Director	30/09/2006	11/10/2005	-	Active	NO
U29300MH2005PTC150533	AAA Industries Private Limited	Director	27/06/2009	11/10/2005	-	Active	NO
U51395MH2004PTC150310	AAA International Capital Private Limited	Director	27/06/2009	11/10/2005	-	Active	NO
U74210MH2005PTC150537	Res rei Finance Private Limited	Director	30/09/2006	11/10/2005	29/08/2007	Active	NO
U29299MH2004PTC150312	Ambani Industries Private Limited	Director	30/09/2006	11/10/2005	18/05/2010	Active	NO
U51395MH2004PTC150311	Ambani International Private Limited	Director	30/09/2006	11/10/2005	29/08/2007	Active	NO
U74140MH2004PTC150219	Aaa Pivotal Enterprises Private Limited	Director	30/09/2006	11/10/2005	29/08/2007	Active	NO
U29299MH2005PTC155864	Aaa Business Machines Private Limited	Director	30/09/2006	11/10/2005	29/08/2007	Active	NO
U51506MH2005PTC150819	AAA Global Ventures Private Limited	Director	11/10/2005	11/10/2005	29/08/2007	Active	NO
U51900MH2005PTC157592	ADA Enterprises And Ventures Private Limited	Director	27/06/2009	3/01/2006	-	Active	NO
U67120MH2005PTC157923	Reliance Enterprises and Ventures Private Limited	Director	27/06/2009	3/01/2006	-	Active	NO
U74140MH2004PLC150218	Anil Dhirubhai Ambani Ventures Limited	Director	30/09/2006	3/01/2006	15/12/2006	Active	NO
U51909MH2005PTC157591	Swan Ventures Private Limited	Director	30/09/2006	3/01/2006	2/05/2007	Active	NO
U51909MH2005PTC154172	Anadha Enterprise Private Limited	Director	30/09/2006	21/01/2006	29/08/2007	Under liquidation	NO
U64200MH2006PTC159355	AAA Communication Private Limited	Director	30/01/2006	30/01/2006	-	Active	NO
U51909MH2005PTC154239	Bhavan Mercantile Private Limited	Director	30/09/2006	6/03/2006	29/08/2007	Under liquidation	NO
U74140MH2006PTC160458	AAA Corporate Services Private Limited	Director	13/03/2006	13/03/2006	29/08/2007	Active	NO
U74210MH2006PTC160533	AAA Infrastructure Consulting and Engineers Private Limited	Director	27/06/2009	16/03/2006	-	Active	NO
U74210MH2006PTC160534	AAA Advisory Services Private Limited	Director	16/03/2006	16/03/2006	29/08/2007	Active	NO
U67110MH2006PTC160559	Reliance ADA Group Enterprises Private Limited	Director	17/03/2006	17/03/2006	29/08/2007	Active	NO
U51900MH2006PTC160588	Talenthouse Entertainment Private Limited	Director	20/03/2006	20/03/2006	29/08/2007	Active	NO
U72900MH2006PTC160603	Reliance BIG Entertainment Private Limited	Director	21/03/2006	21/03/2006	-	Active	NO
U67190MH2006PTC160629	Big Motion Pictures Private Limited	Director	22/03/2006	22/03/2006	29/08/2007	Active	NO
U14200MH2006PTC160640	Reliance Cement Resources Private Limited	Director	22/03/2006	22/03/2006	29/08/2007	Amalgamated	NO
U74210MH2006PTC160639	AAA Facilities Solution Private Limited	Director	22/03/2006	22/03/2006	29/08/2007	Active	NO
U74900MH2006PTC160641	AAA Management Consultancy Services Private Limited	Director	22/03/2006	22/03/2006	29/08/2007	Active	NO
U65990MH2006PTC160642	Reliance Big News Private Limited	Director	29/09/2008	22/03/2006	18/05/2010	Active	NO
U40100MH2006PTC160683	AAA Power Systems (Global) Private Limited	Director	23/03/2006	23/03/2006	-	Amalgamated	NO
U74900MH2006PTC160668	AAA Management Services Private Limited	Director	23/03/2006	23/03/2006	29/08/2007	Active	NO
U74999MH2006PTC160669	AAA Project Finance Management Private Limited	Director	23/03/2006	23/03/2006	29/08/2007	Active	NO
U67190MH2006PTC160667	AAA Infrastructure Finance Management Private Limited	Director	23/03/2006	23/03/2006	29/08/2007	Active	NO
U74994MH2006PTC160666	AAA Financial Services Private Limited	Director	23/03/2006	23/03/2006	29/08/2007	Active	NO
U70100MH2006PTC160725	AAA Corporation Private Limited	Director	24/03/2006	24/03/2006	29/08/2007	Active	NO
U51900MH2006PTC160697	AAA and Sons Enterprises Private Limited	Director	24/03/2006	24/03/2006	29/08/2007	Active	NO
U65990MH2006PTC160747	Reliance Big Broadcasting Private Limited	Director	19/05/2010	27/03/2006	-	Active	NO
U74140MH2006PTC160746	AAA Cap Advisory Services Private Limited	Director	27/03/2006	27/03/2006	29/08/2007	Active	NO
U70100MH2006PLC160748	Digital Media Imaging Limited	Director	30/09/2006	27/03/2006	29/08/2007	Active	NO
U13209MH2006PTC160774	AAA Resources Private Limited	Director	30/09/2006	28/03/2006	29/08/2007	Active	NO
U74999MH2005GAT155907	Reliance ADA Group Private Limited CN	Director	28/04/2006	28/04/2006	-	Active	NO
U85110MH2005PLC158360	Reliance Health Ventures Limited	Director	30/09/2006	12/05/2006	18/05/2010	Active	NO
U72900MH2001PTC131596	Synergy Entrepreneur Solutions Private Limited	Director	23/07/2006	23/07/2006	-	Amalgamated	NO
U74899MH1992PLC168789	NIS Sparta Limited	Director	5/09/2006	5/09/2006	30/07/2009	Active	NO
U73100MH2005PTC158356	Reliance Innoventures Private Limited	Director	29/09/2007	6/11/2006	-	Active	NO
U92131MH2006PTC218162	Reliance Big Private Limited	Director	28/09/2007	9/06/2007	18/05/2010	Active	NO
U52190MH2006PTC218260	Reliance India Private Limited	Director	28/09/2007	9/06/2007	18/05/2010	Active	NO
U74999MH2006PLC218261	Reliance Limited	Director	28/09/2007	10/08/2007	18/05/2010	Active	NO
U64200MH1994PLC218016	Reliance Telephones Limited	Director	17/09/2007	20/08/2007	31/03/2008	Active	NO
U72900MH2000PLC128386	Reliance Global IDC Limited	Additional director	1/09/2007	1/09/2007	12/02/2008	Amalgamated	NO
U64200MH1999PLC120367	Reliance National Communications Limited	Additional director	1/09/2007	1/09/2007	31/03/2008	Strike off	NO
U51399MH2000PLC217929	Internet Exchangenext.com Limited	Director	29/09/2008	23/05/2008	11/02/2009	Active	NO
U64201MH2007PTC168608	Aaa Entertainment Private Limited	Director	30/09/2008	27/08/2008	-	Active	NO
U51900DL2009PLC191444	Kribhco Reliance Kisan Limited	Nominee director	22/06/2009	22/06/2009	-	Strike off	NO
U45203MH2005PLC153294	Reliance Big TV Limited	Director	29/09/2010	10/10/2009	-	Active	NO
U64203MH1997PLC166329	Reliance Communications Infrastructure Limited	Director	30/09/2010	13/08/2010	-	Active	NO

Name :

Mr. Suresh Madihally Rangachar

Designation :

Director

Address :

37, Gulistan Apartment, 9, Cuffe Parade, Colaba, Mumbai – 400005, Maharashtra, India

Date of Birth/Age :

14.05.1964

Date of Appointment :

13.08.2010

DIN No.:

00020887

Other Directorship :

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
U72900MH2001PLC131597	Reliance Digital Home Services Limited	Director	23/07/2005	23/07/2005	1/09/2009	Active	NO
U64200MH2000PTC128061	Reliance Broadband Communications Private Limited	Director	10/08/2005	10/08/2005	-	Strike off	NO
U72200MH2000PTC124290	Reliance BPO Private Limited	Director	26/12/2008	27/10/2007	-	Active	NO
U64203MH1997PLC166329	Reliance Communications Infrastructure Limited	Director	30/09/2010	13/08/2010	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Hitesh Lalitbhai Marthak
Designation :	Secretary
Address :	Flat F 604 (Daisy), Jalvayu Vihar, Phase – 1, Sector – 20, Kharghar, Navimumbai – 410210, Maharashtra, India
Date of Birth/Age :	25.10.1975
Date of Appointment :	01.08.2010
PAN No.:	ACDPM9248D

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Equity Shares
Prakash Shenoy	1
Anil C Shah	1
Gaurang Shah	1
Ramesh Shenoy	1
Hasit Shukla	1
Surendra Pipara	1
Reliance Communication Limited, India	2009999994
Total	2010000000

Names of Shareholders	No. of Preference Shares
Reliance Communication Limited, India	20000
Total	20000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2011

Category	Percentage
Bodies corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Promoters of Industrial Finance, Order Suppliers, Importers, Exporters, Merchants, Stockiest, Buyers, Sellers, Agents, Brokers, Commission Agents and Dealers.

Products :

Product Description	ITC Code
Communication Devices Accessories	851711

GENERAL INFORMATION

No. of Employees :

300 (Approximately)

Bankers :

Axis Bank Limited, Central Office, Maker, Towers – F, 13^th Floor, Cuffe Parade, Colaba, Mumbai – 400 005, Maharashtra, India

Facilities :

Unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Foreign currency loans	4937.600	5770.100
Loans subsidiaries	6500.000	0.000
Others Debts	16309.100	16869.900
Total	27746.700	22640.000

Notes :

1. Includes: Short Term Loans: From Holding Company: Rs.1 5309.100 Millions, and From Body Corporate: Rs.1000.000 Millions

2. Includes: Long Term Loans: From Holding Company: Rs.11850.000 Millions, Short Term Loans: From Holding Company: Rs.4019.900 Millions, and From Body Corporate: Rs.1000.000 Millions

Financial Institution:	Axis Trustee Services Limited, Maker, Towers – F, 13^th Floor, Cuffe Parade, Colaba, Mumbai – 400 005, Maharashtra, India
Banking Relations :	--
Auditors :
Name :	Chaturvedi and Shah Chartered Accountants
Address :	709, Tulsiani Chambers, 212, Nariman Point, Mumbai – 400 021, Maharashtra, India
PAN.:	AAAFC0662N
Ultimate Holding Company :	Reliance Innoventures Private Limited
Holding Company :	· Reliance Communications Limited CIN No.: L45309MH2004PLC147531 · Reliance Infratel Limited CIN No.: U72900MH2001PLC131598
Subsidiary Companies :	· Reliance Communications Investments and Leasing Limited CIN No.: U64201MH2001PLC131600 · Matrix Innovations Limited (Upto 31/03/2010) CIN No.: U99999MH2000PLC125991 · Netizen Rajasthan Limited · Reliance Global IDC Limited (Merged with Reliance Infratel Limited wef.01/01/2011)
Fellow Subsidiaries :	· Global Innovative Solutions Private Limited ( Upto 31.03.2010) · Reliance Wimax Limited · Reliance Webstore Limited CIN No.: U72900MH2000PLC128101 · Reliance Communications International Inc. · Reliance Communications Inc. · Reliance Communications Hongkong Limited · Reliance Globalcom Limited, Bermuda and its Subsidiaries · Reliance Telecom Limited CIN No.: U32100MH1994PLC162841 · Gateway Net Trading Pte. Limited Singapore · Reliance Big TV Limited CIN No.: U45203MH2005PLC153294 · Reliance Tech Services Private Limited CIN No.: U72900MH2007PTC172690 · Reliance Infocomm Infrastructure Private Limited CIN No. : U45300MH1993PTC173775 · Reliance Globalcom B.V. Nederland
Joint Venture :	Alcatel Lucent Managed Solutions India Private Limited CIN No.: U64203MH2008PTC182748

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
2400000000	Equity Shares	Rs.1/- each	Rs.2400.000 Millions
10000000	8% Cumulative Preference Shares	Rs.10/- each	Rs.100.000 Millions
	Total		Rs.2500.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2010000000	Equity Shares	Re.1/- each	Rs.2010.000 Millions
20000	8% Cumulative Preference Shares	Rs.10/- each	Rs.0.200 Million
	Total		Rs.2010.200 Millions

Note :

All Equity Shares and Preference Shares are held by Reliance Communications Limited, the Holding Company and its nominees.

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		2010.200	2010.200	2010.200
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		28294.100	27006.900	27482.300
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		30304.300	29017.100	29492.500
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		27746.700	22640.000	21263.000
TOTAL BORROWING		27746.700	22640.000	21263.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		58051.000	51657.100	50755.500
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		9352.200	10171.200	10350.200
Capital work-in-progress		16800.500	26651.200	8939.600
INVESTMENT		3261.700	3257.300	3253.500
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1085.700	1121.100	1418.900
	Sundry Debtors	10733.100	8552.400	14076.400
	Cash & Bank Balances	6433.400	1476.400	2254.400
	Other Current Assets	3693.500	2168.100	0.900
	Loans & Advances	47663.200	37591.100	49103.800
Total Current Assets		69608.900	50909.100	66854.400
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	31923.200	25967.000	22782.300
	Other Current Liabilities	7504.600	10534.300	14590.100
	Provisions	1544.500	2830.400	1269.800
Total Current Liabilities		40972.300	39331.700	38642.200
Net Current Assets		28636.600	11577.400	28212.200
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		58051.000	51657.100	50755.500

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	42425.900	44170.700	40952.500
		Other Income	964.700	18.200	7.800
		TOTAL (A)	43390.600	44188.900	40960.300
Less	EXPENSES
		Manufacturing service costs	26276.800	12166.600	10012.500
		Employee related expenses	2030.900	1205.800
		Administrative selling other expenses	12570.600	26853.400
		TOTAL (B)	40878.300	40225.800	10012.500
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		2512.300	3963.100	6798.700
Less	FINANCIAL EXPENSES (D)		(3684.100)	(2325.100)	1655.900
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		6196.400	6288.200	5142.800
Less/ Add	DEPRECIATION/ AMORTISATION (F)		5483.700	4630.800	2476.900
	PROFIT BEFORE TAX (E-F) (G)		712.700	1657.400	2665.900
Less	TAX (H)		(1280.800)	1562.500	4.100
	PROFIT AFTER TAX (G-H) (I)		1993.500	94.900	2661.800
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		2748.300	2653.400	(8.400)
	BALANCE CARRIED TO THE B/S		4741.800	2748.300	2653.400
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	153.900	3219.700	6936.100
	TOTAL EARNINGS		153.900	3219.700	6936.100
	IMPORTS
		Capital Goods	1953.300	1470.600	6748.700
		Traded Goods	262.400	246.600	482.500
	TOTAL IMPORTS		2215.700	1717.200	7231.200
	Earnings Per Share (Rs.)		0.99	0.05	1.33

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	4.59	0.21	6.50
Net Profit Margin (PBT/Sales)	(%)	1.68	3.75	6.51
Return on Total Assets (PBT/Total Assets}	(%)	0.90	2.71	3.45
Return on Investment (ROI) (PBT/Networth)		0.02	0.06	0.09
Debt Equity Ratio (Total Liability/Networth)		2.26	2.14	2.03
Current Ratio (Current Asset/Current Liability)		1.69	1.29	1.73

LOCAL AGENCY FURTHER INFORMATION

DETAILS OF SUNDRY CREDITORS

(Rs. in Millions)

Particulars	31.03.2011	31.03.2010	31.03.2009
Sundry Creditors
Micro Small and Medium Enterprises	512.700	189.800	151.800
Others	31410.500	25777.200	22630.500
Total	31923.200	25967.000	22782.300

OPERATIONS:

The Company provides Internet Data Centre (IDC) service facilities to house own and client's computer systems and associated components, such as telecommunications and secured storage systems to the user companies from our IDCs located in Mumbai, Bangalore, Hyderabad and Chennai.

During the year, the Company expanded the capacity of Hyderabad data center. With this, the IDC capacity has gone up more than 450,000 sq ft, making the Company the leader in this segment with an estimated market share of over 60 per cent.

The Company maintained its position as the premium integrated solutions provider for Corporates in the Broadband segment. The Company's Enterprise Broadband business maintained its leadership in Centrex, Virtual Private Network and internet Data Centre products and One Office Duo (OOD) voice product.

The Company's Enterprise Broadband segment continued to maintain its growth path and gained significantly during the year even in the midst of aggressive competition in data and voice but particularly the internet bandwidth segment. The Company's current portfolio of more than 38 products, Enterprise Broadband business has not only positioned a larger number of products with top corporates but also increased its share of wallet.

During the year, the Company has launched new products like Virtual NoC for MPLS VPN, SMS-on-Net, Web Conferencing and Hosted Mail etc.

Broadband's business IT Systems are ISO 27001:2005 Certified (an Information Security Management System Standard).

The Company has, during the year, entered into various contracts in the area of internet data business. While benefits from such contracts will accrue in the future years, the Board of Directors periodically reviews their progress.

FORM 8

Corporate identity number of the company	U64203MH1997PLC166329
Name of the company	RELIANCE COMMUNICATIONS INFRASTRUCTURE LIMITED
Address of the registered office or of the principal place of business in India of the company	H Block, 1st Floor, Dhirubhai Ambani Knowledge City, Navi Mumbai – 400710, Maharashtra, India Email Id : hitesh.marthak@relianceada.com
This form is for	Creation of charge
Type of charge	Movable property (not being pledge)
Particular of charge holder	Axis Trustee Services Limited, Axis House, 2nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai – 400025, Maharashtra, India Email Id : debenturetrustee@axistrustee.com
Nature of instrument creating charge	Deed of Hypothecation dated 30th June, 2011 executed by Reliance Communications Limited, Reliance Communications Infrastructure Limited, Reliance Infratel Limited and Reliance Telecom Limited, the Chargors in favour of Axis Trustee Services Limited acting as the Security Trustee
Date of instrument Creating the charge	30.06.2011
Amount secured by the charge	Rs.27076.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Extent and operation of the charge Second pari passu charge in favour of Axis Trustee Services Limited as Security Trustee for various facilities availed by the Chargors/Obligors inter alia on i) all and singular of the whole of the respective Chargors' present and future plant and machinery including capital work in progress more particularly describe in clause 3 of the Deed of Hypothecation dated 30th June, 2011

Contingent Liabilities (As on 31.03.2011):

a) Estimated amount of contracts remaining to be executed on capital accounts and not provided for – Rs.433.100 Millions

b) Disputed Liabilities in Appeal:

· Sales Tax/ VAT/CST – Rs.1149.200 Millions

· Entry Tax – Rs.51.900 Millions

· Customs Duty – Rs.103.700 Millions

Fixed Assets

· Freehold Land

· Buildings

· Plant and Machinery

· Electrical Installations

· Office Equipment

· Furniture and Fixtures

· Vehicles

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.51.43
UK Pound	1	Rs.79.10
Euro	1	Rs.66.17

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--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		58

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.