MIRA INFORM REPORT

Report Date :

20.01.2012

IDENTIFICATION DETAILS

Name :	RELIANCE BIG TV LIMITED (w.e.f.24.12.2008)
Formerly Known As :	RELIANCE INFRASTRUCTURE UTILITIES PRIVATE LIMITED RELIANCE BIG TV 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 :	13.05.2005
Com. Reg. No.:	11-153294
Capital Investment / Paid-up Capital :	Rs. 100.000 Millions
CIN No.: [Company Identification No.]	U45203MH2005PLC153294
Legal Form :	A Closely Held Public Limited Liability Company.
Line of Business :	Providing Direct to Home Services.
No. of Employees :	Not Divulged by the management.

RATING & COMMENTS

MIRA’s Rating :

B (26)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a part of Reliance ADA Group. It is an established company having moderate track. There appears huge accumulated losses recorded by the company. Profitability of the company is under severe pressure. However, trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution.

NOTES :

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

INFORMATION DECLIND 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
Fax No.:	91-22-30376622
E-Mail :	hitesh.chawda@relianceada.com
Website :	http://www.bigtv.co.in

DIRECTORS

AS ON 28.09.2011

Name :	Mr. Amit J Khanna
Designation :	Director
Address :	301, Sea Star, Balarj Sahani Marg, Near Holiday Inn, Juhu, Mumbai-400049, Maharashtra, India
Date of Birth/Age :	01.03.1951
Date of Appointment :	07.06.2005
DIN No.:	00005430

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	U92199MH1994PTC218015	RELIANCE ENTERTAINMENT PRIVATE LIMITED	Director	02-05-00	02-05-00	-	Active	NO
2	U92132MH2001NPL132233	EARTH COMMUNICATIONS OFFICE-INDIA ASSOCIATION	Director	04-06-01	04-06-01	-	Active	NO
3	U45203MH2005PLC153294	RELIANCE BIG TV LIMITED	Director	07-06-05	07-06-05	-	Active	NO
4	L29299MH1987PLC045446	RELIANCE MEDIAWORKS LIMITED	Director	25-10-07	26-04-07	-	Active	NO
5	U92100MH2008PTC183661	MAGIC LANTERN FILMS PRIVATE LIMITED	Director	18-06-08	18-06-08	21-09-11	Under Process of Striking off	NO

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 :	14.12.2007
DIN No.:	00004612

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	L65990TN1975PLC062634	STERLITE INDUSTRIES (INDIA) LIMITED	Director	29-06-01	29-06-01	-	Active	NO
2	L10889MH1957PLC010889	GARWARE POLYESTER LIMITED	Director	29-01-04	29-01-04	04-08-08	Active	NO
3	U65999GJ2003PLC042560	KOJAM FININVEST LIMITED	Director	17-03-04	17-03-04	-	Amalgamated	NO
4	U45200MH2003PLC140946	SONATA INVESTMENTS LIMITED	Director	04-03-05	04-03-05	-	Active	NO
5	U64203MH1997PLC166329	RELIANCE COMMUNICATIONS INFRASTRUCTURE LIMITED	Director	26-06-05	26-06-05	-	Active	NO
6	U66010MH2001PLC167089	RELIANCE LIFE INSURANCE COMPANY LIMITED	Director	16-06-06	04-10-05	05-04-11	Active	NO
7	L29299MH1987PLC045446	RELIANCE MEDIAWORKS LIMITED	Director	29-07-06	07-10-05	-	Active	NO
8	U74140MH1994PTC077688	CONNECT CAPITAL PRIVATE LIMITED	Director	30-09-06	10-10-05	19-01-10	Active	NO
9	U45200MH2006PLC161190	RELIANCE ASSET RECONSTRUCTION COMPANY LIMITED	Director	20-05-08	17-04-06	15-04-09	Active	NO
10	U85199KA1999PTC025676	MEDI ASSIST INDIA TPA PRIVATE LIMITED	Director	11-07-07	11-05-06	01-04-09	Active	NO
11	U51909MH2006GAP163022	RELIANCE ANIL DHIRUBHAI AMBANI GROUP LIMITED	Director	10-07-06	10-07-06	-	Active	NO
12	U72900MH2006PTC165881	CONNECT INFOTAIN PRIVATE LIMITED	Director	29-11-06	29-11-06	-	Active	NO
13	U32100MH1994PLC162841	RELIANCE TELECOM LIMITED	Director	01-09-07	30-01-07	-	Active	NO
14	U72200MH2000PLC163072	RELIABLE INTERNET SERVICES LIMITED	Director	30-01-07	30-01-07	-	Amalgamated	NO
15	U65923MH2007PTC174326	TELECOM INFRASTRUCTURE FINANCE PRIVATE LIMITED	Director	30-09-08	20-09-07	-	Active	NO
16	L28992MH1998PLC113433	PIRAMAL GLASS LIMITED	Additional director	10-10-07	10-10-07	01-04-08	Active	NO
17	U45203MH2005PLC153294	RELIANCE BIG TV LIMITED	Director	12-09-08	14-12-07	-	Active	NO
18	L73100MH2001PLC132523	PIRAMAL LIFE SCIENCES LIMITED	Director	22-08-08	01-04-08	-	Active	NO
19	U67190MH2008PTC183216	RELIANCE HOME FINANCE PRIVATE LIMITED	Director	14-07-09	01-07-08	-	Active	NO
20	U80301MH2008NPL187591	DIGITAL BRIDGE FOUNDATION	Director	16-10-08	16-10-08	-	Active	NO
21	U29299PN2009PTC133536	CREATIVE ASHTECH POWER PROJECTS PRIVATE LIMITED	Additional director	13-04-09	13-04-09	30-06-09	Active	NO
22	L64200MH2005PLC158355	RELIANCE BROADCAST NETWORK LIMITED	Director	31-08-10	30-06-09	-	Active	NO

Name :	Mr. Hasit Navinchandra Shukla
Designation :	Director
Address :	403, “Saita Co-Operative Housing Society Limited, 16^th Road, Bandra (West), Mumbai-400050, Maharashtra, India
Date of Birth/Age :	28.08.1962
Date of Appointment :	29.09.2010
DIN No.:	00004549

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	U72900MH2001PLC131598	RELIANCE INFRATEL LIMITED	Director	23-07-05	23-07-05	30-07-07	Active	NO
2	U64202AS2000PTC006035	ASSAM NETWORK PRIVATE LIMITED	Director	10-08-05	10-08-05	-	Amalgamated	NO
3	U72900MH2000PTC125367	RELIANCE INFRASTRUCTURE FINANCE PRIVATE LIMITED	Director	10-08-05	10-08-05	18-05-10	Active	NO
4	U29299MH2005PTC155864	AAA BUSINESS MACHINES PRIVATE LIMITED	Director	30-09-06	11-10-05	29-08-07	Active	NO
5	U74140MH2004PTC150219	AAA PIVOTAL ENTERPRISES PRIVATE LIMITED	Director	30-09-06	11-10-05	29-08-07	Active	NO
6	U51395MH2004PTC150311	AMBANI INTERNATIONAL PRIVATE LIMITED	Director	30-09-06	11-10-05	29-08-07	Active	NO
7	U29299MH2004PTC150312	AMBANI INDUSTRIES PRIVATE LIMITED	Director	30-09-06	11-10-05	18-05-10	Active	NO
8	U74210MH2005PTC150537	RES REI FINANCE PRIVATE LIMITED	Director	30-09-06	11-10-05	29-08-07	Active	NO
9	U51395MH2004PTC150310	AAA INTERNATIONAL CAPITAL PRIVATE LIMITED	Director	27-06-09	11-10-05	-	Active	NO
10	U29300MH2005PTC150533	AAA INDUSTRIES PRIVATE LIMITED	Director	27-06-09	11-10-05	-	Active	NO
11	U74999MH2005PTC150536	AAA PROJECT VENTURES PRIVATE LIMITED	Director	30-09-06	11-10-05	-	Active	NO
12	U74999MH2004PTC150308	AAA ENTERPRISES PRIVATE LIMITED	Director	30-09-06	11-10-05	-	Active	NO
13	U51506MH2005PTC150819	AAA GLOBAL VENTURES PRIVATE LIMITED	Director	11-10-05	11-10-05	29-08-07	Active	NO
14	U51909MH2005PTC157591	SWAN VENTURES PRIVATE LIMITED	Director	30-09-06	03-01-06	02-05-07	Active	NO
15	U74140MH2004PLC150218	ANIL DHIRUBHAI AMBANI VENTURES LIMITED	Director	30-09-06	03-01-06	15-12-06	Active	NO
16	U67120MH2005PTC157923	RELIANCE ENTERPRISES AND VENTURES PRIVATE LIMITED	Director	27-06-09	03-01-06	-	Active	NO
17	U51900MH2005PTC157592	ADA ENTERPRISES AND VENTURES PRIVATE LIMITED	Director	27-06-09	03-01-06	-	Active	NO
18	U51909MH2005PTC154172	ANADHA ENTERPRISE PRIVATE LIMITED	Director	30-09-06	21-01-06	29-08-07	Under liquidation	NO
19	U64200MH2006PTC159355	AAA COMMUNICATION PRIVATE LIMITED	Director	30-01-06	30-01-06	-	Active	NO
20	U51909MH2005PTC154239	BHAVAN MERCANTILE PRIVATE LIMITED	Director	30-09-06	06-03-06	29-08-07	Under liquidation	NO
21	U74140MH2006PTC160458	AAA CORPORATE SERVICES PRIVATE LIMITED	Director	13-03-06	13-03-06	29-08-07	Active	NO
22	U74210MH2006PTC160533	AAA INFRASTRUCTURE CONSULTING AND ENGINEERS PRIVATE LIMITED	Director	27-06-09	16-03-06	-	Active	NO
23	U74210MH2006PTC160534	AAA ADVISORY SERVICES PRIVATE LIMITED	Director	16-03-06	16-03-06	29-08-07	Active	NO
24	U67110MH2006PTC160559	RELIANCE ADA GROUP ENTERPRISES PRIVATE LIMITED	Director	17-03-06	17-03-06	29-08-07	Active	NO
25	U51900MH2006PTC160588	TALENTHOUSE ENTERTAINMENT PRIVATE LIMITED	Director	20-03-06	20-03-06	29-08-07	Active	NO
26	U72900MH2006PTC160603	RELIANCE BIG ENTERTAINMENT PRIVATE LIMITED	Director	21-03-06	21-03-06	-	Active	NO
27	U65990MH2006PTC160642	RELIANCE BIG NEWS PRIVATE LIMITED	Director	29-09-08	22-03-06	18-05-10	Active	NO
28	U74900MH2006PTC160641	AAA MANAGEMENT CONSULTANCY SERVICES PRIVATE LIMITED	Director	22-03-06	22-03-06	29-08-07	Active	NO
29	U74210MH2006PTC160639	AAA FACILITIES SOLUTION PRIVATE LIMITED	Director	22-03-06	22-03-06	29-08-07	Active	NO
30	U14200MH2006PTC160640	RELIANCE CEMENT RESOURCES PRIVATE LIMITED	Director	22-03-06	22-03-06	29-08-07	Amalgamated	NO
31	U67190MH2006PTC160629	BIG MOTION PICTURES PRIVATE LIMITED	Director	22-03-06	22-03-06	29-08-07	Active	NO
32	U40100MH2006PTC160683	AAA POWER SYSTEMS (GLOBAL) PRIVATE LIMITED	Director	23-03-06	23-03-06	-	Amalgamated	NO
33	U74994MH2006PTC160666	AAA FINANCIAL SERVICES PRIVATE LIMITED	Director	23-03-06	23-03-06	29-08-07	Active	NO
34	U67190MH2006PTC160667	AAA INFRASTRUCTURE FINANCE MANAGEMENT PRIVATE LIMITED	Director	23-03-06	23-03-06	29-08-07	Active	NO
35	U74999MH2006PTC160669	AAA PROJECT FINANCE MANAGEMENT PRIVATE LIMITED	Director	23-03-06	23-03-06	29-08-07	Active	NO
36	U74900MH2006PTC160668	AAA MANAGEMENT SERVICES PRIVATE LIMITED	Director	23-03-06	23-03-06	29-08-07	Active	NO
37	U51900MH2006PTC160697	AAA AND SONS ENTERPRISES PRIVATE LIMITED	Director	24-03-06	24-03-06	29-08-07	Active	NO
38	U70100MH2006PTC160725	AAA CORPORATION PRIVATE LIMITED	Director	24-03-06	24-03-06	29-08-07	Active	NO
39	U65990MH2006PTC160747	RELIANCE BIG BROADCASTING PRIVATE LIMITED	Director	19-05-10	27-03-06	-	Active	NO
40	U70100MH2006PLC160748	DIGITAL MEDIA IMAGING LIMITED	Director	30-09-06	27-03-06	29-08-07	Active	NO
41	U74140MH2006PTC160746	AAA CAP ADVISORY SERVICES PRIVATE LIMITED	Director	27-03-06	27-03-06	29-08-07	Active	NO
42	U13209MH2006PTC160774	AAA RESOURCES PRIVATE LIMITED	Director	30-09-06	28-03-06	29-08-07	Active	NO
43	U74999MH2005GAT155907	RELIANCE ADA GROUP PRIVATE LIMITED CN	Director	28-04-06	28-04-06	-	Active	NO
44	U85110MH2005PLC158360	RELIANCE HEALTH VENTURES LIMITED	Director	30-09-06	12-05-06	18-05-10	Active	NO
45	U72900MH2001PTC131596	SYNERGY ENTREPRENEUR SOLUTIONS PRIVATE LIMITED	Director	23-07-06	23-07-06	-	Amalgamated	NO
46	U74899MH1992PLC168789	NIS SPARTA LIMITED	Director	05-09-06	05-09-06	30-07-09	Active	NO
47	U73100MH2005PTC158356	RELIANCE INNOVENTURES Private LIMITED	Director	29-09-07	06-11-06	-	Active	NO
48	U52190MH2006PTC218260	RELIANCE INDIA PRIVATE LIMITED	Director	28-09-07	09-06-07	18-05-10	Active	NO
49	U92131MH2006PTC218162	RELIANCE BIG PRIVATE LIMITED	Director	28-09-07	09-06-07	18-05-10	Active	NO
50	U74999MH2006PLC218261	RELIANCE LIMITED	Director	28-09-07	10-08-07	18-05-10	Active	NO
51	U64200MH1994PLC218016	RELIANCE TELEPHONES LIMITED	Director	17-09-07	20-08-07	31-03-08	Active	NO
52	U72900MH2000PLC128386	RELIANCE GLOBAL IDC LIMITED	Additional director	01-09-07	01-09-07	12-02-08	Amalgamated	NO
53	U64200MH1999PLC120367	RELIANCE NATIONAL COMMUNICATIONS LIMITED	Additional director	01-09-07	01-09-07	31-03-08	Strike off	NO
54	U51399MH2000PLC217929	INTERNET EXCHANGENEXT.COM LIMITED	Director	29-09-08	23-05-08	11-02-09	Active	NO
55	U64201MH2007PTC168608	AAA ENTERTAINMENT PRIVATE LIMITED	Director	30-09-08	27-08-08	-	Active	NO
56	U51900DL2009PLC191444	KRIBHCO RELIANCE KISAN LIMITED	Nominee director	22-06-09	22-06-09	-	Strike off	NO
57	U45203MH2005PLC153294	RELIANCE BIG TV LIMITED	Director	29-09-10	10-10-09	-	Active	NO
58	U64203MH1997PLC166329	RELIANCE COMMUNICATIONS INFRASTRUCTURE LIMITED	Director	30-09-10	13-08-10	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Hitesh K Chawda
Designation :	Manager
Address :	602, S Regency, Plot No. 4, Opposite Terna Polytechnic Sector, 2A, Koparkhairne, Navi Mumbai-400710, Maharashtra, India
Date of Birth/Age :	21.06.1969
Date of Appointment :	14.12.2007
Pan No.:	ABWPC9268K
Name :	Mr. Hitesh K Chawda
Designation :	Secretary
Address :	602, S Regency, Plot No. 4, Opposite Terna Polytechnic Sector, 2A, Koparkhairne, Navi Mumbai-400710, Maharashtra, India
Date of Birth/Age :	21.06.1969
Date of Appointment :	01.07.2006

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 28.09.2011

Names of Shareholders	No. of Shares
Reliance Communications Limited, Maharashtra, India	9999940
Anil D Ambani Jointly with Reliance Communications Limited	10
Satish Seth Jointly with Reliance Communications Limited	10
Amitabh Jhunjhunwala Jointly with Reliance Communications Limited	10
Gautam Doshi Jointly with Reliance Communications Limited	10
Hasit Shukla Jointly with Reliance Communications Limited	10
Surendera Pipara Jointly with Reliance Communications Limited	10
Total	10000000

AS ON 28.09.2011

Equity Shares Break Up	Percentage
Bodies corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Providing Direct to Home Services.

GENERAL INFORMATION

No. of Employees :

Not Divulged by the management.

Bankers :

Not Divulged

Facilities :

Unsecured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
Foreign currency loans unsecured
Foreign currency loans banks unsecured	389.641	157.714
Other debt unsecured	3194.459	2688.759
Total	3584.100	2846.473
Notes: (A) Buyer's credit (Amount repayable within one year Rs. 389.642 Millions (B) Loan from Holding Company repayable on Demand

Banking Relations :	--
Auditors :
Name :	Pathak H D and Associates Chartered Accountant
Address :	709, Tulsiani Chambers, 212, Nariman Point, Mumbai-400021, Maharashtra, India
Ultimate Holding Companies :	· Reliance Innoventures Private Limited
Holding Company :	· Reliance Communications Limited CIN No.:- L45309MH2004PLC147531
Fellow Subsidiaries :	· Reliance Infocomm Infrastructure Private Limited CIN No.:- U45300MH1993PTC173775 · Reliance Communications Infrastructure Limited CIN No.:- U64203MH1997PLC166329 · Reliance Tech Services Private Limited CIN No.:- U72900MH2007PTC172690

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs. 10/- each	Rs. 100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs. 10/- each	Rs. 100.000 Millions

Note:

All the above 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		100.000	100.000	100.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		[3346.382]	[1899.769]	[831.486]
NETWORTH		[3246.382]	[1799.769]	[731.486]
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		3584.100	2846.473	1488.060
TOTAL BORROWING		3584.100	2846.473	1488.060
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		337.718	1046.704	756.574
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2366.431	2543.299	2073.800
Capital work-in-progress		177.519	131.884	209.633
INVESTMENT		0.034	0.034	0.034
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	25.762	19.353	0.000
	Cash & Bank Balances	25.049	64.350	52.850
	Other Current Assets	0.058	10.369	6.233
	Loans & Advances	769.334	704.298	1011.558
Total Current Assets		820.203	798.370	1070.641
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	2341.770	1559.242	1133.853
	Other Current Liabilities	684.699	865.707	1461.747
	Provisions	0.000	1.934	1.934
Total Current Liabilities		3026.469	2426.883	2597.534
Net Current Assets		[2206.266]	[1628.513]	[1526.893]
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		337.718	1046.704	756.574

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	3291.623	2668.763	1039.366
		Other Income	7.623	4.825	17.287
		TOTAL (A)	3299.246	2673.588	1056.653
Less	EXPENSES
		Manufacturing Service Cost / Licence Fees and Network Expenses	3212.894	2485.533	1075.829
		Sales and General Administrative Expenses	934.319	810.435	662.763
		TOTAL (B)	4147.213	3295.968	1738.592
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		[847.967]	[622.380]	[681.939]
Less	FINANCIAL EXPENSES (D)		5.546	6.803	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		[853.513]	[629.183]	[681.939]
Less/ Add	DEPRECIATION/ AMORTISATION (F)		593.100	439.100	163.565
	PROFIT BEFORE TAX (E-F) (G)		[1446.613]	[1068.283]	[845.504]
Less	TAX (H)		0.000	0.000	[3.097]
	PROFIT AFTER TAX (G-H) (I)		[1446.613]	[1068.283]	[842.407]
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		[1899.769]	[831.486]	10.921
	BALANCE CARRIED TO THE B/S		[3346.382]	[1899.769]	[831.486]
	IMPORTS
		Capital Goods	444.212	227.295	658.624
	TOTAL IMPORTS		444.212	227.295	658.624
	Earnings Per Share (Rs.)		[144.66]	[106.83]	[84.24]

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	[43.85]	[39.96]	[79.72]
Net Profit Margin (PBT/Sales)	(%)	[43.95]	[40.03]	[81.35]
Return on Total Assets (PBT/Total Assets}	(%)	[45.40]	[31.96]	[26.89]
Return on Investment (ROI) (PBT/Networth)		0.45	0.59	1.16
Debt Equity Ratio (Total Liability/Networth)		[2.04]	[2.93]	[5.59]
Current Ratio (Current Asset/Current Liability)		0.27	0.33	0.41

LOCAL AGENCY FURTHER INFORMATION

DETAILS OF SUNDRY CREDITORS

(Rs. In Millions)

Particulars	31.03.2011	31.03.2010	31.03.2009
Sundry Creditors
- Dues to Micro Small and Medium Enterprises	35.301	2.639	7.576
- Due to other	2306.469	1556.603	1126.277
Total	2341.770	1559.242	1133.853

NOTE:

The Registered office of the company has been shifted from 3^rd Floor, Reliance Energy Centre, Santacruz (East), Mumbai, Maharashtra, India to present address. 25.10.2007

OPERATIONS

The Company launched India’s first fully Digital Home Entertainment Service on the world’s most advanced MPEG4 Direct-To-Home (DTH) Platform. During the year, the Company have also launched the stand alone High Definition (HD) Set Top Box (STB), completing the most comprehensive product line up inclusive of Standard Definition (SD), HD and HD Digital Video Recorded(DVR) STB. The Company also introduced a new technology advancement which made the Company the 1st operator to offers all 250 channels in HD like quality. The brand name underwent a major change over from Reliance BIG TV to Reliance Digital TV, enhancing the overall brand value.

The Company has entered into various contracts in the areas of DTH and value added service businesses. While benefits from such contracts will accrue in the future years, their progress is periodically reviewed.

CONTINGENT LIABILITIES

Particulars	31.03.2011 Rs. In Millions
a) Estimated amount of contracts remaining to be executed on capital account (Net of Advances) and not provided for	0.360
b) Bank Guarantee (Against the corporate guarantee given by holding company)	941.300

FIXED ASSETS:

· RF UP Link

· Asset in Customer Premises

· Direct to Home (DTH) License

· Brand License

· Trade Marks

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. 50.28
UK Pound	1	Rs. 77.60
Euro	1	Rs. 64.66

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	--
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--CREDIT LINES	1~10	2
--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		26

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.