MIRA INFORM REPORT

Report Date :

26.03.2012

IDENTIFICATION DETAILS

Name :	AIR INDIA LIMITED
Registered Office :	Airlines House, 113, Gurudwara Rakabganj Road, New Delhi – 110 001
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	30.03.2007
Com. Reg. No.:	55- 161431
Capital Investment / Paid-up Capital :	Rs.9450.000 Millions
CIN No.: [Company Identification No.]	U62200DL2007GOI161431
TAN No.: [Tax Deduction & Collection Account No.]	DELN09135A
PAN No.: [Permanent Account No.]	AACCN6194P
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Providing Air Transport Services
No. of Employees :	1000+ [Approximately]

RATING & COMMENTS

MIRA’s Rating :

B (27)

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 Government of India Company. It is an established company having moderate track. Profitability of the company appears to be under pressure. However, the lenders and creditors can feel confident of their exposures in the company, subject being a government company. 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.

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

INFORMATION PARTED BY

Name :	Ms. Sangeeta Singh
Designation :	Assist GM – Finance
Contact No.:	91-22-26265660

LOCATIONS

Registered Office :	Airlines House, 113, Gurudwara Rakabganj Road, New Delhi – 110 001, India
Tel. No.:	91-11- 22796666 / 2342 2000
Fax No.:	91-11- 22023686
E-Mail :	s.venkat@airindia.in rbansal.moca@nic.in
Website :	www.airindia.in
Area :	10,000 Sq.ft.
Location :	Owned
Commercial Headquarter:	Old Airport Kalina, Santacruz (East), Mumbai – 400 029, Maharashtra
Tel. No.:	91-22-26265555
Other Air India Office:	Located At : · Ahmedabad · Amritsar · Anand · Bhopal · Bengaluru   · Bengaluru airport · Baroda (vadodara) · Chandigarh · Cochin (kochi) · Cochin airport · Calicut (kozhikode) · Calicut airport · Chennai · Chennai airport · Coimbatore · Chittagong · Delhi · Dhaka airport · Guwahati · Guwahati airport · Goa · Goa airport · Hyderabad · Hyderabad airport · Igi airport · Indore · Jalandhar · Jaipur · Kolkata · Kolkata Airport · Kanpur · Kannur · Lucknow airport · Mumbai · Malappuram · Mangalore · Nagpur · Pune · Rajkot · Surat · Thiruvan- Anthapuram · Thiruvan- Anthapuram Airport · Trichy · Thiruvalla · Trichur · Varanasi

DIRECTORS

AS ON 30.09.2010

Name :

Mr. Arvind Jadhav

Designation :

Chairman and Managing Director

Address :

22B, Sterling Apartment, Peddar Road, Mumbai – 400026, Maharashtra, India

Date of Birth/Age :

05.06.1956

Date of Appointment :

04.05.2009

DIN No.:

00795741

Other Directorships :

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	L65910DL1986GOI024862	Power Finance Corporation Limited	Nominee Director	31-05-02	31-05-02	26-02-07	Active	NO
2	L40101DL1969GOI005095	Rural Electrification Corporation Limited	Nominee Director	23-02-04	23-02-04	13-03-07	Active	NO
3	U45203KA2003PLC032183	Hassan Mangalore Rail Development Company Limited	Nominee Director	22-09-08	22-09-08	10-06-09	Active	NO
4	U60100KA2000PLC028171	Rail Infrastructure Development Company (Karnataka) Limited	Nominee Director	22-09-08	22-09-08	10-06-09	Active	NO
5	U45203KA2001PLC028418	Bangalore International Airport Limited	Nominee Director	23-09-08	23-09-08	13-05-09	Active	NO
6	U63031KA2008SGC045831	Bangalore Airport Rail Link Limited	Additional director	25-09-08	25-09-08	22-06-09	Active	NO
7	U45209KA1999SGC025497	Karnataka Road Development Corporation Limited	Nominee director	05-11-08	05-11-08	22-07-09	Active	NO
8	U63013DL2003GOI121950	IAL Airport Services Limited	Director	04-05-09	04-05-09	-	Strike off	NO
9	U62200DL2007GOI161431	AIR India Limited	Managing director	04-05-09	04-05-09	12-08-11	Active	NO
10	U62100DL1981GOI011262	Vayudoot Limited	Director	04-05-09	04-05-09	12-08-11	Active	NO
11	U51101DL1983GOI016518	Airline Allied Services Limited	Director	04-05-09	04-05-09	12-08-11	Active	NO
12	U62100MH1971GOI015328	Air India Charters Limited	Director	04-05-09	04-05-09	12-08-11	Active	NO
13	U55101MH1971GOI015217	Hotel Corporation of India Limited	Managing director	01-05-10	04-05-09	12-08-11	Active	NO
14	U74210DL2004PLC125114	AIR-India Engineering Services Limited	Nominee director	20-05-09	20-05-09	-	Active	NO
15	U63090DL2003PLC120790	AIR India Air Transport Services Limited	Nominee director	20-05-09	20-05-09	-	Active	NO
16	U74900DL2010PTC201763	Air India Sats Airport Services Private Limited	Director	20-04-10	20-04-10	-	Active	NO

Name :

Mr. Anup K Srivastava

Designation :

Director

Address :

30 A Sterling Appartments, Peddar Road, Mumbai – 400026, Maharashtra

Date of Birth/Age :

28.05.1954

Date of Appointment :

18.09.2007

DIN No.:

00240937

Other Directorships :

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	U62100DL1992GOI048582	Indian Airlines Limited	Director	05-10-05	05-10-05	-	Amalgamated	NO
2	U62200DL2007GOI161431	AIR India Limited	Director	18-09-07	18-09-07	22-06-11	Active	NO

Name :

Mrs. Anita Khurana

Designation :

Director

Address :

20 A Sterling Appartments, Peddar Road, Mumbai – 400026, Maharashtra

Date of Birth/Age :

18.07.1954

Date of Appointment :

18.09.2007

DIN No.:

00518141

Other Directorships :

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	U62100DL1992GOI048582	Indian Airlines Limited	Director	14-07-06	14-07-06	-	Amalgamated	NO
2	U51101DL1983GOI016518	Airline Allied Services Limited	Director	14-07-06	14-07-06	25-07-08	Active	NO
3	U62200DL2007GOI161431	Air India Limited	Director	18-09-07	18-09-07	14-07-11	Active	NO

Name :

Mr. Vipin Kumar Sharma

Designation :

Director

Address :

214, Mavilla Apartments, Mayur Vihar, Phase 1, New Delhi – 110091, India

Date of Birth/Age :

18.09.1955

Date of Appointment :

18.09.2007

DIN No.:

01077975

Other Directorships :

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	U62100DL1992GOI048582	Indian Airlines Limited	Director	30-11-06	30-11-06	Amalgamated	NO
2	U51101DL1983GOI016518	Airline Allied Services Limited	Director	30-11-06	30-11-06	Active	NO
3	U62200DL2007GOI161431	AIR India Limited	Director	18-09-07	18-09-07	Active	NO
4	U62100DL1981GOI011262	Vayudoot Limited	Director	11-06-08	11-06-08	Active	NO

Name :

Mr. Kunamkumarath Muralidharan Unni

Designation :

Director

Address :

Flat No.11, air India Apartments, 61 B Pali Hill, Bandra West, Mumbai – 400050, Maharashtra, India

Date of Birth/Age :

10.11.1955

Date of Appointment :

18.09.2007

Din No.:

01202428

Other Directorships :

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	U62100DL1992GOI048582	Indian Airlines Limited	Director	30-11-06	30-11-06	Amalgamated	NO
2	U51101DL1983GOI016518	Airline Allied Services Limited	Director	30-11-06	30-11-06	Active	NO
3	U62200DL2007GOI161431	AIR India Limited	Director	18-09-07	18-09-07	Active	NO
4	U62100DL1981GOI011262	Vayudoot Limited	Director	11-06-08	11-06-08	Active	NO

Name :

Mr. Subramanian Chandrasekhar

Designation :

Director

Address :

B 1 – 261, Twin Tower, Prabhadevi, Mumbai – 400025, Maharashtra, India

Date of Birth/Age :

02.08.1953

Date of Appointment :

18.09.2007

DIN No.:

01367349

Other Directorships :

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	U62100DL1992GOI048582	Indian Airlines Limited	Director	01-03-07	01-03-07	-	Amalgamated	NO
2	U62100DL1981GOI011262	Vayudoot Limited	Director	01-03-07	01-03-07	01-09-11	Active	NO
3	U51101DL1983GOI016518	Airline Allied Services Limited	Director	01-03-07	01-03-07	01-09-11	Active	NO
4	U62200DL2007GOI161431	Air India Limited	Director	18-09-07	18-09-07	-	Active	NO
5	U62100MH1971GOI015328	Air India Charters Limited	Director	01-10-07	01-10-07	-	Active	NO
6	U74900DL2010PTC201763	Air India Sats Airport Services Private Limited	Director	20-04-10	20-04-10	-	Active	NO

Name :

Mr. Bharat Bhushan Edodiyil Kunhiraman

Designation :

Director

Address :

Bhavana Peroorkada P O, Trivandrum, Kerla - 695005, India

Date of Birth/Age :

14.01.1955

Date of Appointment :

20.03.2009

DIN No.:

01124966

Other Directorships :

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	U63040KL1965SGC002120	KTDC Hotels And Resorts Limited	Director	30-10-04	30-10-04	19-01-07	Active	NO
2	U72900DL2003NPL120999	National Internet Exchange Of India	Nominee director	10-04-07	10-04-07	08-07-09	Active	NO
3	L74899DL1965GOI004363	India Tourism Development Corporation Limited	Director	12-04-07	12-04-07	10-01-11	Active	NO
4	U72900MH2001NPL133410	Media Lab Asia	Director	08-05-07	08-05-07	18-02-09	Active	NO
5	U72901DL2006PLC148310	Mtnlstpi it services limited.	Director appointed in casual vacancy	21-08-07	21-08-07	11-11-08	Active	NO
6	U62200DL1985GOI022233	Pawan Hans Helicopters Limited	Nominee director	26-02-09	26-02-09	-	Active	NO
7	U55101MH1971GOI015217	Hotel Corporation of India Limited	Director	09-03-09	09-03-09	-	Active	NO
8	U62200DL2007GOI161431	Air India Limited	Director	04-05-09	20-03-09	-	Active	NO
9	U63013DL2003GOI121950	IAL Airport Services Limited	Director	20-05-09	24-04-09	-	Strike off	NO
10	U62100DL1981GOI011262	Vayudoot Limited	Director	24-04-09	24-04-09	04-05-09	Active	NO
11	U62100MH1971GOI015328	AIR India Charters Limited	Director	24-04-09	24-04-09	04-05-09	Active	NO
12	U51101DL1983GOI016518	Airline Allied Services Limited	Director	24-04-09	24-04-09	04-05-09	Active	NO
13	U63090DL2003PLC120790	Air India Air Transport Services Limited	Nominee director	20-05-09	20-05-09	-	Active	NO
14	U74210DL2004PLC125114	Air-India Engineering Services Limited	Nominee director	20-05-09	20-05-09	-	Active	NO
15	U74990MH2009PLC193150	Mihan India Limited	Nominee director	14-09-09	14-09-09	22-06-10	Active	NO

Name :

Mr. Prashant Narain Sukul

Designation :

Director

Address :

A – 10, Sujansingh Park, New Delhi – 110003, India

Date of Birth/Age :

22.10.1959

Date of Appointment :

09.02.2009

Din No.:

02558916

Other Directorships :

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	U62200DL2007GOI161431	AIR India Limited	Director	09-02-09	09-02-09	Active	NO
2	U55101MH1971GOI015217	Hotel Corporation of India Limited	Director	09-02-09	09-02-09	Active	NO
3	U74210DL2004PLC125114	Air-India Engineering Services Limited	Director	16-02-09	16-02-09	Active	NO
4	U63013DL2003GOI121950	IAL Airport Services Limited	Director	16-02-09	16-02-09	Strike off	NO
5	U63090DL2003PLC120790	AIR India Air Transport Services Limited	Director	16-02-09	16-02-09	Active	NO

Name :

Mr. Anand Mahendra

Designation :

Vice Chairman and Managing Director

DIN No.:

00004695

Other Directorships :

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	L65110MH1985PLC038137	Kotak Mahindra Bank Limited	Director	11-06-86	11-06-86	21-03-11	Active	NO
2	L99999MH1962PLC012542	Mahindra Ugine Steel Company Limited	Director	30-10-86	30-10-86	-	Active	NO
3	L65990MH1945PLC004558	Mahindra and Mahindra Limited	Managing director	01-08-10	23-11-89	-	Active	NO
4	U51900MH1978PLC020222	Mahindra Intertrade Limited	Director	20-02-91	20-02-91	11-12-06	Active	NO
5	L65921MH1991PLC059642	Mahindra and Mahindra Financial Services Limited	Director	31-12-91	31-12-91	22-04-08	Active	NO
6	U80210MH1993NPL073071	The Mahindra United World College Of India	Director	22-07-93	22-07-93	-	Active	NO
7	U30007MH1994PLC081637	Mahindra Sona Limited	Director	30-09-94	30-09-94	27-04-10	Active	NO
8	U65910MH1985PLC036060	Mahindra Holdings and Finance Limited	Director	03-03-95	03-03-95	-	Amalgamated	NO
9	L64200MH1986PLC041370	Tech Mahindra Limited	Nominee director	19-09-95	19-09-95	-	Active	NO
10	U99999MH1998PTC113514	Angular Constructions Private Limited	Director	14-02-98	14-02-98	-	Strike off	NO
11	U24240MH1989PTC051218	Avion Aerosols Private Limited	Director	29-06-99	29-06-99	-	Active	NO
12	U74999MH1999PTC121254	MW Com (India) Private Limited	Director	12-08-99	12-08-99	24-04-09	Active	NO
13	U64200MH1994PLC083996	Mahindra First Choice Wheels Limited	Director	16-06-00	16-06-00	-	Active	NO
14	U67120MH1992PLC069769	National Stock Exchange of India Limited	Director	02-05-02	02-05-02	28-12-10	Active	NO
15	L45200MH1999PLC118949	Mahindra Lifespace Developers Limited	Director	29-01-04	29-01-04	15-03-10	Active	NO
16	U85100MH1946GAP005082	Breach Candy Hospital Trust	Director	24-03-05	24-03-05	-	Active	NO
17	U63040MH1994PLC079098	Mahindra Navistar Automotives Limited	Director	14-07-06	11-01-06	-	Active	NO
18	L27100MH1999PLC121285	Mahindra Forgings Limited	Director	19-05-06	28-04-06	22-07-10	Active	NO
19	U74899DL1989PTC038453	M. A. R. K. Hotels Private Limited	Director	06-12-06	06-12-06	-	Active	NO
20	U85310MH2006PLC160651	Tech Mahindra Foundation	Director	20-07-07	19-04-07	-	Active	NO
21	U65993MH2007PLC175649	Mahindra Holdings Limited	Director	29-07-08	02-11-07	-	Active	NO
22	U35911MH2008PLC185462	Mahindra Two Wheelers Limited	Director	12-08-09	12-12-08	-	Active	NO
23	U01119AP2008PLC057694	Araku Originals Limited	Director	20-08-09	10-08-09	-	Active	NO
24	U62200DL2007GOI161431	Air India Limited	Director	05-03-10	05-03-10	09-03-11	Active	NO
25	U29268MH2009PTC190702	Defence Land Systems India Private Limited	Director	25-07-11	27-04-10	-	Active	NO
26	U74140MH1982PTC026770	Prudential Management And Services Private Limited	Additional director	30-04-10	30-04-10	-	Active	NO
27	U85300AP2010PTC068530	Naandi Community Water Services Private Limited	Director	21-05-10	21-05-10	-	Active	NO
28	U45200MH1996PTC099607	Moonshine Construction Private Limited	Additional director	07-06-11	07-06-11	-	Active	NO

Name :

Dr. Amit Mitra

Designation :

Director

DIN No.:

00154041

Other Directorships :

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	L40200DL1984GOI018976	GAIL (India) Limited	Director	29-04-99	29-04-99	11-08-09	Active	NO
2	U70109DL2006PLC153767	IL&FS Cluster Development Initiative Limited	Director	30-05-08	17-07-07	28-07-11	Active	NO
3	U45400DL2008PLC172316	Delhi Mumbai Industrial Corridor Development Corporation Limited	Director	07-01-08	07-01-08	16-05-11	Active	NO
4	U91100DL2009NPL197064	Invest India	Director	17-12-09	17-12-09	-	Active	NO
5	U62200DL2007GOI161431	AIR India Limited	Director	05-03-10	05-03-10	18-03-11	Active	NO

Name :

Mr. Harshvardhan Neotia

Designation :

Director

DIN No.:

00047466

Other Directorships :

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	U51109WB1983PLC036021	Choicest Enterprises Limited	Director	10-03-83	10-03-83	-	Active	NO
2	U55101WB1988PLC044475	G G L Hotel AND Resort Company Limited	Director	10-10-88	10-10-88	-	Active	NO
3	U85110WB1990NPL048534	Ganpati Medical Institute	Director	18-03-90	18-03-90	-	Active	NO
4	U85110WB1990NPL049713	Park Hospitals	Director	06-01-92	06-01-92	-	Active	NO
5	U45209WB1993PLC060444	Bengal Ambuja Housing Development Limited.	Managing director	01-10-09	13-10-93	-	Active	NO
6	U85110WB1994PLC063007	Ganapati Parks LImited	Director	22-04-94	22-04-94	-	Active	NO
7	L22213WB1946PLC014346	Saregama India Limited	Director	07-03-96	07-03-96	-	Active	NO
8	U45201WB1999PLC090060	Bengal Ambuja Metro Development Limited	Director	13-08-99	13-08-99	-	Active	NO
9	L85110KA1995PLC017003	Energy Development Company Limited	Director	22-06-02	22-06-02	25-07-11	Active	NO
10	U92112WB2003PTC096078	Calcutta Cine Private Limited	Director	22-04-03	22-04-03	-	Amalgamated	NO
11	U65993WB1990PTC049245	RK BK Fiscal Services Private Limited	Director	03-11-05	03-11-05	-	Active	NO
12	U45201WB2005PLC105860	Ambuja Realty Development Limited	Director	16-12-05	16-12-05	-	Active	NO
13	U70101WB2005PLC101398	Ambuja Housing and Urban Infrastructure Company Limited	Director	16-12-05	16-12-05	-	Active	NO
14	U70109DL2006PLC149602	Aipl Ambuja Housing and Urban Infrastructure Limited	Director	25-01-08	09-06-06	-	Active	NO
15	U70101WB1994PLC063441	Luxmi Township Limited	Director	29-12-06	28-06-06	-	Active	NO
16	U51109WB2006PLC110773	Udayan Greenfield Developers Limited	Director	30-07-07	03-01-07	-	Active	NO
17	U85110WB2007PLC113081	Neotia Healthcare Initiative Limited	Director	31-08-10	05-02-07	-	Active	NO
18	U85300WB1926GAP005585	Indian Chamber of Commerce Calcutta	Director	27-06-09	30-06-08	02-07-10	Active	NO
19	U93000DL2008NPL178695	Shopping Centres Association of India	Director	30-10-09	03-07-08	-	Active	NO
20	U55101WB2009PLC133507	BAHDL Hospitality Limited	Director	06-03-09	06-03-09	12-01-10	Active	NO
21	L15421UP1993PLC018642	Dwarikesh Sugar Industries Limited	Director	16-03-10	30-11-09	-	Active	NO
22	U62200DL2007GOI161431	AIR India Limited	Director	05-03-10	05-03-10	-	Active	NO

Name :

Mr. F. H. Major

Designation :

Director

DIN No.:

03026199

Other Directorships :

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	U62200DL2007GOI161431	Air India Limited	Director	05-03-10	05-03-10	Active	NO
2	U74210DL2004PLC125114	Air-India Engineering Services Limited	Nominee director	06-04-10	06-04-10	Active	NO
3	U63090DL2003PLC120790	AIR India Air Transport Services Limited	Nominee director	06-04-10	06-04-10	Active	NO
4	U63013DL2003GOI121950	IAL Airport Services Limited	Director	06-04-10	06-04-10	Strike off	NO
5	U62100MH1971GOI015328	AIR India Charters Limited	Director	10-05-11	10-05-11	Active	NO

Name :

Mr. M. A. Yusuffali

Designation :

Director

DIN No.:

00364677

Other Directorships :

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	U51900MH1991PTC063177	Fair Exports (India) Private Limited	Managing director	15-09-91	15-09-91	-	Active	NO
2	U63033KL1994PLC007803	Cochin International Airport Limited	Director	26-09-95	26-09-95	-	Active	NO
3	U85110KL1996PLC010260	Lakeshore Hospital and Research Centre Limited	Director	30-09-99	30-09-99	-	Active	NO
4	U51100MH1994PTC076381	Frolic Trading Private Limited	Managing director	11-08-00	11-08-00	-	Active	NO
5	U22110KL1999PTC012930	Olive Publications Private Limited	Director	21-05-01	21-05-01	11-02-10	Active	NO
6	U01214DL2001PTC113535	Fair Agro Exports Private Limited	Managing director	21-12-01	21-12-01	-	Active	NO
7	U51909TN2002PTC050105	Lulu Center International Private Limited	Director	27-12-02	27-12-02	-	Active	YES
8	U91990KL2002NPL015838	Norka-Roots (SEC 25 Company)	Director	30-06-04	30-06-04	-	Active	YES
9	U51109UP1999PTC024484	Amroon Foods Private Limited	Managing director	14-07-04	14-07-04	-	Active	NO
10	U52190KL2004PTC017414	Lulu International Shopping Mall Private Limited	Managing director	06-09-04	06-09-04	-	Active	NO
11	U52190KL2004PTC017418	Lulu International Convention Center Private Limited	Managing director	08-09-04	08-09-04	-	Active	NO
12	U74999KL2004PTC017419	Emay Petroleum Distributors Private Limited	Director	08-09-04	08-09-04	-	Active	NO
13	U45209KL2005PTC017929	Lulu Properties Private Limited	Managing director	17-02-05	17-02-05	-	Active	NO
14	U62100KL2006PLC019227	Air Kerala International Services Limited	Director	15-03-06	15-03-06	-	Active	NO
15	U51909KL2006PTC020034	Lulu Hypermarket Private Limited	Managing director	27-11-06	27-11-06	-	Active	NO
16	U70101KL2006PTC020035	Line Properties Private Limited	Managing director	27-11-06	27-11-06	-	Active	NO
17	U45309KL1961SGC001937	Kerala State Industrial Development Corpn Limited	Director	22-06-07	22-06-07	-	Active	NO
18	U72200KL2007PTC021071	Lulu Cyber World Private Limited	Managing director	25-07-07	25-07-07	-	Active	NO
19	U74999TN2007PTC065132	LULU Group International Private Limited	Director	24-10-07	24-10-07	-	Active	NO
20	U55101KL2007PTC021401	Lulu Flight Kitchen Private Limited	Managing director	13-11-07	13-11-07	-	Active	NO
21	U45209KL2007PLC020471	Infrastructures Kerala Limited	Director	05-09-08	22-11-07	-	Active	NO
22	U70102KL2008PTC022854	Lulu Projects Private Limited	Managing director	24-07-08	24-07-08	-	Active	NO
23	U45200KL2008PTC023442	Emmay Projects (India) Private Limited	Managing director	21-11-08	21-11-08	-	Active	NO
24	U45200KL2009PTC024242	Emmay International Properties and Developers Private Limited	Managing director	29-05-09	29-05-09	-	Active	NO
25	U45200KL2009PTC024461	Emmay Ventures (India) Private Limited	Managing director	15-07-09	15-07-09	-	Active	NO
26	U67110KL2009PLC025082	AL Barakah Financial Services Limited	Director	30-11-09	30-11-09	-	Active	NO
27	U74900KL2010PLC025553	INKEL-KSIDC Projects Limited	Nominee director	24-02-10	24-02-10	-	Active	NO
28	U74900KL2010PLC025556	INKEL-KINFRA Infrastructure Projects Limited	Nominee director	24-02-10	24-02-10	-	Active	NO
29	U18101KL1950PTC000087	SRI Asoka Textiles Private Limited	Director	12-07-10	29-03-10	-	Active	NO
30	U62200DL2007GOI161431	AIR India Limited	Director	07-05-10	07-05-10	-	Active	NO
31	U15125DL2000PTC107049	GIEX Foods Private Limited	Director	29-09-10	01-06-10	-	Active	NO
32	U52190KL2010PTC026838	Lulu Convention And Exhibition Center Private Limited	Managing director	05-10-10	05-10-10	-	Active	NO
33	U74900KL2010PTC026850	Lulu Forex Private Limited	Director	08-10-10	08-10-10	-	Active	NO
34	U35303KL2005PLC018632	Cochin International Aviation Services Limited	Nominee director	23-06-11	23-06-11	-	Active	NO

Name :

Mr. Amodh Sharma

Designation :

Director

Date of Appointment :

18.09.2007

DIN No.:

00206997

Other Directorships :

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	U62100DL1992GOI048581	AIR India Limited	Director	17-10-05	17-10-05	-	Amalgamated	NO
2	U62200DL2007GOI161431	AIR India Limited	Director	18-09-07	18-09-07	01-02-11	Active	NO

KEY EXECUTIVES

Name :	Mr. Srinivasa Venkat
Designation :	Secretary
Address :	Flat No.8, air India Apartments, 61 B Pali Hill, Bandra West, Mumbai – 400050, Maharashtra, India
Date of Birth/Age :	17.10.1957
Date of Appointment :	28.08.2007
PAN No.:	AAKPV6798A
Name :	Ms. Sangeeta Singh
Designation :	Assist GM - Finance
Audit Committee:	Mr. Arvind Jadhav, Chairman Mr. Anand Mahindra, Member Dr. Amit Mitra, Member Mr. Yusuffali M.A., Member Mr. E.K. Bharat Bhushan, Member
HR Committee:	Mr. Arvind Jadhav, Chairman Mr. Amit Mitra, Member Mr. Harshavardhan Neotia, Member ACM Fali H Major (Retired), Member Mr. Prashant Sukul, Member
Strategic Committee:	Mr. Arvind Jadhav, Chairman Mr. Anand Mahindra, Member Dr. Amit Mitra, Member Mr. Harshavardhan Neotia, Member ACM Fali H. Major (Retired), Member Mr. Yusufalli M.A., Member Mr. E.K. Bharat Bhushan, Member Mr. Prashant Sukul, Member
Audit Committee:	Mr. Harshvardhan Neotia, Chairman Mr. Anand Mahindra, Member Mr. E.K. Bharat Bhushan, Member Mr. Prashant Sukul, Member Mr. Arvind Jadhav, Permanent Invitee

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2010

Names of Shareholders	No. of Shares
President of India	944999920
M. Madhavan Nambiar	10
Arvind Jadhav	10
Alok Sinha	10
E K Bharat Bhushan	10
Prashant Narain Sukul	10
Lakkadi Rajashekhar Reddy	10
Syed Nasir Ali	10
S K Chhikara	10
Total	945000000

AS ON 30.09.2010

Category	Percentage
Government [Central and State]	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Providing Air Transport Services

Products :

Product Description	ITC Code
Air Transport Carrier (of passengers and cargo)	720

· Passenger Carrier

· Cargo Carrier

· Handling Services

Terms :

Selling :

Cash

Purchasing :

Cash

GENERAL INFORMATION

Customers :

· OEM’s

· End Users

· Corporate

· Commercial

No. of Employees :

1000+ [Approximately]

Bankers :

· Indian Orange Limited, P O Box 1093 GT, Queensgate House, South Church Street, George Town, Grand Cayman – 0000, Cayman Island.

· Standard Chartered Bank, Narain Manzil, 23 Barakhamba Road, New Delhi – 110001, Delhi, India

· Punjab National Bank, Large Corporate Bank, Tolstoy House, Tolstoy Marg, New Delhi – 110001, Delhi

· ABN Bank

· ANZ Bank

· Australian and Newzealand Bank

· Banco Central Hispano

· Banco Di Roma

· Banco Nazionale Dal Lavord

· Bank for Foreign and Economic Affairs

· Bank for Foreign trade

· Bank of Alexandria

· Bank of America

· Bank of China

· Bank of Shanghai

· Bank of Tokyo Mitusubishi

· Bank Tejarat

· Bank of Baroda

· Bank of India

· Canara Bank

· IDBI Bank

· Indian Overseas Bank

· State Bank of India

· Syndicate Bank

· UCO Bank

· United Bank of India

· Citibank

· Royal Bank of Canada

· Commerz Bank

· Creditanstalt Bankverein

· Den Danske Bank

· HSBC Bank Beirut

· Indo Nigerian Merchant Bank

· Indo Zambia Bank

· Korea Exchange Bank

· National Bank of Kuwait

· Natwest Bank

· Mepali SBI Bank

· Societe General Bank

· Standard Chartered Bank

· Sterling Bank

· Uttara Bank Limited

· Wahda Bank

· Myanmar Economic Bank

· National Bank of Uzbekistan Tashkent

· Siam Commercial Bank

· J S Bank Limited

· HDFC Bank

· Caylon Bank

· Ace Cooperative Bank

· Bank of Ceylon

· ABN Amro Bank

· IDBI Trusteeship Services Limited, Asian Building, Ground Floor, 17 R Kamani Marg, Ballard Estate, Mumbai – 400 001, Maharashtra

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Secured by hypothecation of relevant aircraft inventories	1347.000	1014.400
Other loans from banks Secured by i. Secured by hypothecation of inventories other than those in ‘A’ above book debts, other current assets and four Aircraft i.e. VT-EQS, EQT, ESA and ESC. ii. Hypothecation of A-320 Aircraft Registration Nos. VT- EPQ, VT-EPP and VT-EPR iii. Hypothecation of 19 Aircrafts ( 7 A-321, 4 A-320 and 8 A-319 Aircrafts) Guaranteed by the Government of India to the extent of Rs.49168.600 Millions	64560.100	22645.100
Total	65907.100	23659.500
NOTES: Includes Rs.19811.500 Millions due for repayment within one year (Previous year Rs.23.659.500 Millions) Secured with reference to the insured value of Aircraft.
Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Loans from a Wholly Owned Subsidiary Company	0.000	47.500
Short Term Loans From Banks and Financial Institutions**	168638.100	139619.100
Other Loans From Banks and Financial Institutions** (Guaranteed by the Government of India to the extent of Rs.208.200 millions (Previous Year Rs.243.100 millions)	9123.000	29098.300
Debentures (7000 Unsecured, Redeemable, Non-Convertible Debentures of face value of Rs.10 lakhs each @ interest rate of 9.13%)	7000.000	0.000
Total	184761.100	168764.900

** Includes Rs.173714.800 millions due for repayment within one year. (Previous Year Rs.158628.500 millions)

Banking Relations :	--
Auditors :
Name 1 :	P K Chopra and Company Chartered Accountant
Address :	N Block, Bombay Life Building, 2^nd Floor, Above Post Office, Connaught Place, New Delhi- 110001, India
Pan No.:	AAHFP6285D
Name 2 :	Thakur Vaidyanath Aiyar and Company Chartered Accountant
Address :	Delhi
Name 3 :	Chhajed and Doshi Chartered Accountant
Address :	Mumbai, Maharashtra
Subsidiaries:	v Hotel Corporation of India Limited CIN: U55101MH1971GOI015217 v Air India Charters Limited CIN: U62100MH1971GOI015328 v Air India Air Transport Services Limited CIN: U63090DL2003PLC120790 v Air-India Engineering Services Limited CIN: U74210DL2004PLC125114 v Airline Allied Services Limited CIN: u51101DL1983GOI016518 v IAL Airport Services Limited CIN: U63013DL2003GOI121950

CAPITAL STRUCTURE

AS ON 30.12.2010

Authorised Capital: Rs.110000.000 Millions

Paid-up Capital: Rs.21450.000 Millions

AS ON 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
4,875,645,020	Equity Shares	Rs.10/- Each	Rs.48756.500 Millions
12,440,498	Redeemable Preference Shares	Rs.100/- Each	Rs.1244.000 Millions
			Rs.50000.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
945,000,000	Equity Shares	Rs.10/- Each	Rs.9450.000 Millions

NOTE:

Of the above 144,950,000 equity shares were issued pursuant of Amalgamation.

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		9450.000	1450.000	1450.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		624.800	633.500	78942.906
4] (Accumulated Losses)		[54890.900]	0.000	(22261.561)
NETWORTH		[44816.100]	2083.500	58131.345
LOAN FUNDS
1] Secured Loans		65907.100	23659.500	28917.526
2] Unsecured Loans		184761.100	168764.900	155216.442
TOTAL BORROWING		250668.200	192424.400	184133.968
DEFERRED TAX LIABILITIES		133559.600	116887.500	0.000
TOTAL		339411.700	311395.400	242265.313
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		296419.900	224913.500	178944.348
Capital work-in-progress		24656.200	50113.700	39726.310
INVESTMENT		1219.300	1231.800	901.163
DEFERREX TAX ASSETS		28425.200	28425.200	11873.440
Foreign Currency, Monetary Items Translation Difference Account		99.500	1528.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	8677.800	9642.100	10016.103
	Sundry Debtors	25791.100	24731.000	26134.043
	Cash & Bank Balances	5284.700	11396.400	10845.003
	Other Current Assets	768.100	561.600	318.891
	Loans & Advances	14466.500	11175.900	15602.053
Total Current Assets		54988.200	57507.000	62916.093
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	38189.400	24750.700	--
	Other Current Liabilities	17277.300	17532.200	42861.791
	Provisions	10929.900	10040.900	9234.250
Total Current Liabilities		66396.600	52323.800	52096.041
Net Current Assets		[11408.400]	5183.200	10820.052
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		339411.700	311395.400	242265.313

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Traffic	117424.200	119797.000	122978.000
		Handling, Servicing and Incidental	13662.000	12448.200	-
		Other Income	2936.500	2548.600	13405.500
		TOTAL (A)	134022.700	134793.800	136383.500
Less	EXPENSES
		Payments to and Provisions for employees including Crew Allowances	33567.200	33388.500
		Insurance	914.700	861.800
		Aircraft Fuel and Oil	50150.200	70606.400
		Navigation, Landing, Housing and Parking	10604.400	9290.900
		Aircraft Material Consumed	4262.700	5560.500
		Outside Repairs- Aircraft	8031.500	6910.800	154734.735
		Hire of Aircraft	11774.900	13847.800
		Handling Charges	6045.500	5290.600
		Passenger Amenities	4838.100	4865.600
		Booking Agency Commission	4083.700	4360.500
		Commission Charges	4916.300	4124.300
		Travelling Expenses	3136.400	3604.700
		Other Expenses	9583.200	13993.200
		Prior Period Adjustment	[826.600]	1056.800
		Extra Ordinary Items	208.100	0.000
		TOTAL (B)	151290.300	177762.400	154734.735
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		[17267.600]	[42968.600]	[18351.235]
Less	FINANCIAL EXPENSES (D)		24343.500	16658.800	7013.029
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		[41611.100]	[59627.400]	[25364.264]
Less/ Add	DEPRECIATION/ AMORTISATION (F)		13897.900	12258.900	7616.636
	PROFIT BEFORE TAX (E-F) (G)		[55509.000]	[71886.300]	[32980.900]
Less	TAX (H)		15.400	[16403.700]	10719.300
	PROFIT AFTER TAX (G-H) (I)		[55524.400]	[55482.600]	[22261.600]
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.000	[22261.600]	--
	BALANCE CARRIED TO THE B/S		[55524.400]	[77744.200]	--
	EARNINGS IN FOREIGN CURRENCY
		Interest Received	21.600	154.000	NA
		Dividend	34.500	64.200	NA
	TOTAL EARNINGS		56.100	218.200	NA
	IMPORTS
		Stores & Spares	7283.600	8949.300	NA
		Capital Goods	89586.200	36146.300	NA
	TOTAL IMPORTS		96869.800	45095.600	NA
	Earnings Per Share (Rs.)		[371.70]	[382.60]	[153.60]

Particulars	31.03.2011
Sales Turnover	140000.000

Expected Sales ( 2011-2012) : Rs.150000.000 millions

The above information has been parted by Ms. Sangeeta Singh [Assistant GM - Finance]

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	(41.43)	(41.16)	(16.32)
Net Profit Margin (PBT/Sales)	(%)	(47.27)	(60.01)	(26.82)
Return on Total Assets (PBT/Total Assets}	(%)	(15.80)	(25.45)	(11.20)
Return on Investment (ROI) (PBT/Networth)		(1.24)	(34.50)	(0.57)
Debt Equity Ratio (Total Liability/Networth)		(7.07)	117.46	4.06
Current Ratio (Current Asset/Current Liability)		0.83	1.10	1.21

LOCAL AGENCY FURTHER INFORMATION

CIVIL AVIATION SCENARIO

WORLD

2009

Airline markets rose strongly at the end of 2009 with growth concentrated in the emerging markets of Asia, Latin America and the Middle East. Airlines in the large developed markets of Europe and North America faced sluggish growth. Helped by the strong year, IATA cut its estimate of 2009 net losses from US$11 billion to US$9.4 billion.

During the second half of 2009, demand rebounded at an annualised rate of 12% for passenger and 28% for cargo. There was a strong upturn in air travel and air freight demand at year end, while capacity cuts remained in place. Passenger and freight load factors rose to at least pre-recession levels as a result. While the number of passengers traveling on economy seats was within 3% of the 2008 peak, premium travel lagged 17% below its previous high point. Fares showed an uptrend, though premium revenues were still 30% down on early 2008 and economy was down 1 6%.

2010

IATA’s latest aviation forecast expects airlines to post a global profit of $8.9 billion in 2010.

Industry revenues are forecast to be $560 billion in 2010. This is up from the $483 billion in 2009, but slightly below the $564 billion achieved in 2008. As per IATA the global economy was recovering from the depths of the final crisis faster than was anticipated. Airlines are benefiting from a strong traffic rebound that is pushing the industry into the black.

The upturn in air travel, from the lows of the 2008-09 Great Recession was dented in April 2010 by the closure of European airspace, following the eruption of Iceland’s Eyjafjallajokull volcano. It was estimated that the icelandic volcano crisis cost airlines more than $1.7 billion in lost revenue.

FORECAST HIGHLIGHTS:

Traffic : Passenger traffic is forecast to grow by 7.1% in 2010-11 while cargo traffic will expand by 18.5%. Over the first quarter, the industry was growing at an annualized rate of 9% for passenger and 26% for cargo. Much of the cargo growth is associated with inventory re-stocking.

Yields : Yields are now forecast to grow by 4.5%.for both the cargo and passenger business. The 4.5% rate is just ahead of consumer price inflation. This is contributing strongly to the 13% rise in revenues forecast for 2010. Despite the increase, revenues remain 4% below their 2008 peak.

Load Factors : New capacity will be added to the global system as a result of the 1340 aircraft that are scheduled to join the fleet in 2010. Of these, approximately 500 are replacement aircraft while the rest will be new capacity. Latent capacity is also present as a result of reduced long-haul fleet utilisation which remains several percentage points below pre-crisis levels. It is expected that over the year, an average improvement of 10.2% (passenger and cargo) will be met with a 5.4% increase in capacity. This will support load factors which remained near record levels for most of the first quarter.

Fuel : Fuel costs continue in line with the previous forecast expectations. IATA maintained its expectation for an average annual oil price of $79/barrel in 2010.

INDIA

India is fast becoming a major player in the global aviation market. Increased purchasing power, lower air fares of low cost carriers, emergence of India as a business and tourist destination, more outbound travel, have propelled the growth of Indian aviation.

Scheduled international passenger carriage to/from India for the year 2009-10 registered a growth of 8.8% compared to 2008-09 while the domestic carriage increased by 15.6%. During 2009-1 0, the international and domestic carriage stood at 34.37 million and 44.68 million respectively. Passengers carried by domestic airlines from January-September 2010 were 37.32 million as against 31.48 million in the corresponding period of 2009 thereby registering a growth of 18.5%. In the domestic market, the share of low cost carriers continued to dominate the industry.

The international and domestic freight handled by Indian airports during 2009-10 increased by 10.5% and 24.3% (the highest year-on-year growth recorded so far), respectively when compared with 2008-09.

With the Indian economy expected to grow between 8% to 8.5% in the year 2010 and beyond, there will be a continuous demand for air travel in and out of India. As per the Airbus as well as Boeing statistics, there would be a requirement of nearly 1000 commercial aircraft in the coming 20 years in order to cater to the requirements of the growing traffic in India.

Infrastructure : The AAI has taken up the development of 35 non-metro airports. Of them, 9 have been completed and put in operation. The other projects are in progress and likely to be completed by 2010-11. The Committee of Infrastructure has identified 24 of the 35 non-metro airports for city-side development through Public Private Partnership. Additionally, 11 new green field airports have been identified to reduce passenger load on existing airports.

The Vision 2020 announced by Civil Aviation Ministry contemplates building infrastructure to support 280 million customers. Investments to the extent of US$110 billion are envisaged by 2020 (about US$30 billion for development and sprucing up of existing airports and US$80 billion for building new fleets).

T-3 Terminal

The new Integrated Passenger Terminal Building (Terminal T-3) was inaugurated by the Hon’ble Prime Minister Dr. Manmohan Singh on 3 July 2010. A fine blend of aesthetics and technology, T-3 built by Delhi International Airport (P) Limited (DIAL) is spread across an area of 5,02,000 sq.m. The nine level integrated terminal building with an eye catching design, spacious interiors and ultra-modern systems is expected to handle an estimated 34 million passengers annually. The salient features of T3 are:

· Huge LCD monitors broadcasting live flight information.

· 168 check-in counters.

· Completely automated five-level in-line baggage handling system using latest technology, can screen 12,800 pieces of baggage in one hour on 640 metres of conveyor belts. Speedy baggage arrival on 14 baggage reclaim belts.

· Quick clearance through 95 immigration counters.

· 92 automatic travelators, 63 elevators and 34 escalators.

· 78 Passenger Boarding Bridges (PBB) or aerobridges are available and over 90% of the passengers will be serviced through these. The aerobridges facilitate easy and safe wheelchair access onto and off the aircraft. Approximately, 600 passengers can be boarded into an aircraft in one hour using one PBB.

· Airline ticketing counters on both sides of the entrance-to the terminal building.

· Reception desk for passengers with Reduced Mobility (PRM) where wheelchair requests can be made.

· Fully equipped medical aid rooms with doctors and nursing attendants round-the-clock.

CONTINGENT LIABILITIES NOT PROVIDED FOR:

A. Claims against the company not acknowledged as debts and being contested to the extent ascertainable and quantifiable.

(Rs. in Millions)

Nature of Claim	Description	2009-10	2008-09
Passenger and Cargo Claims	Claims on account of denied boarding, loss of passenger baggage, mishandled baggage delayed flight, cancellation of flights, damaged consignments and late receipt of cargo.	473.500	480.300
Maintenance of Leased Aircraft	Claims on account of maintenance of leased A-320 Aircraft	--	590.800
Income Tax	Demand Notices received by the company which are under Appeal	1243.300	1677.600
Customs Duty and Service Tax	Customs Duty and service tax demand by the tax authorities	559.400	633.400
Sales Tax	Sales Tax Demands made by the State Government	0.000	67.900
Municipal Taxes/ House Tax	Property Taxes/ House Tax demanded by Municipal Authorities	140.200	110.500
Airport Authority of India/ HAL	Claims of Licence Fees, X-Ray, TNLC, Landing Charges, Parking Charges etc.	1053.900	826.800
Others	Claims on account of Staff/ Civil/ Arbitration/ Labour cases and pending court cases (*)	4071.700	1259.000
	Total	7542.000	5646.300

(*) Against which the company has also filed its claims for Rs. 4111.500 Millions.

B. Guarantees given by the Banks and counter guaranteed by the company outstanding Rs. 408.100 Millions (Previous year Rs. 89.600 Millions)

C. Letter of Credit issued by the Bank aggregated Rs. 6671.300 Millions (Previous year Rs. 3594.200 Millions)

D. Corporate Guarantee. Letter of comfort given by the company on behalf of its wholly owned subsidiary companies.:

(Rs. in Millions)

Particulars	2009-10	2008-09
AASL	176.900	250.500
Air India Charters Limited	3462.600	7658.600

FORM 8

Corporate identity number of the company	U62200DL2007GOI161431
Name of the company	NATIONAL AVIATION COMPANY OF INDIA LIMITED
Address of the registered office or of the principal place of business in India of the company	Airline House, 113, Gurudwara Rakabganj Road, New Delhi – 110001, India
This form is for	Creation of charge
Type of charge	Movable property
Particular of charge holder	IDBI Trusteeship Services Limited Asian Building, Ground Floor, 17 R Kamani Marg, Ballard Estate, Mumbai- 400001, Maharashtra, India E-Mail: itsl@idbitrustee.co.in
Nature of instrument creating charge	Deed of hypothecation dated 30 September 2009 executed by the company in favour of IDBI Trusteeship services limited
Date of instrument Creating the charge	30.09.2009
Amount secured by the charge	Rs.2231.771 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest IDBI Branch mark prime lending rate (BPLR) minus 100 bps p. a. during first year and IDBI bench Mark prime lending rate (BPLR) minus 150 bps p. a. for second year and onwards. Terms of repayment Principle to be repaid in 48 equal quarterly installment starting September, 2010 and interest payable monthly. Extend and operation of the charge Charge created as security and to remain effective till repayable of loan secured by this and payments of interest, default interest, premia on prepayment or on redemption, costs, charge and expenses and all other monies due to the lenders under the common loan agreement
Short particular of the property or asset(s) charged	Airbus A319-112 aircraft bearing manufacturer serial number 4029 Indian registration mark VT-SCT

FIXED ASSETS

v Aircraft Fleet and Equipments

v Aero Engines and Power Plants

v Land and Building

v Workshop Equipments Instrument

v Machinery and plants

v Ground Support and Ramp Equipments

v Furniture and Fixture

v Electrical Fitting and Installment

v Computer Systems

v Office Appliances and Equipments

v Computer Software

WEB DETAILS:

MANAGEMENT:

FOUNDER:

Air India is India's national flag carrier. Although air transport was born in India on February 18, 1911 when Henri Piquet, flying a Humber bi-plane, carried mail from Allahabad to Naini Junction, some six miles away, the scheduled services in India, in the real sense, began on October 15, 1932. It was on this day that J.R.D. Tata, the father of Civil Aviation in India and founder of Air India, took off from Drigh Road Airport, Karachi, in a tiny, light single-engine de Havilland Puss Moth on his flight to Mumbai (then known as Bombay) via Ahmedabad.

He landed with his precious load of mail on a grass strip at Juhu. At Mumbai, Neville Vintcent, a former RAF pilot who had come to India from Britain three years earlier on a barn-storming tour, during which he had surveyed a number of possible air routes, took over from J.R.D.Tata and flew the Puss Moth to Chennai (then Madras) via Bellary.

The Subject was established in 2007 and is owned by the Government of India and headquartered in Mumbai. The Company was created to facilitate the merger of the two main state-owned airlines in India: Air India, with its subsidiary Air India Express and Indian Airlines, together with its subsidiary Alliance Air.

Whilst the merger and integration process has started, and a few routes have been rationalised, a lot remains to be done before the various units start functioning as a cohesive airline.

National Aviation Company of India Limited

Air India

• Air India Express
• Air India Cargo

Indian Airlines

• Air India Regional (formerly Alliance Air)

Upon completion of the merger, there will be one primary airline, Air India, with two subsidiary carriers providing regional and low-cost, point-to-point services and a third subsidiary for cargo operations:

Air India

• Air India Cargo
• Air India Express
• Air India Regional

PRESS RELEASE

AMALGAMATION OF AIR INDIA LIMITED AND INDIAN AIRLINES LIMITED WITH NATIONAL AVIATION COMPANY OF INDIA LIMITED.

The Government of India, on 1 March 2007, approved the merger of Air India and Indian Airlines. Consequent to the above, a new Company viz National Aviation Company of India Limited (NACIL) was incorporated under the Companies Act, 1956 on 30 March 2007 with its Registered Office at Airlines House, 113 Gurudwara Rakabganj Road, New Delhi.  The Certificate to Commence Business was obtained on 14 May 2007.  Presently, the Board of NACIL consists of :

Shri Raghu Menon, Addl Secretary and Financial Advisor, Ministry of Civil Aviation

Shri R K Singh, Jt Secretary, Ministry of Civil Aviation

Shri Rajiv Bansal, Director, Ministry of Civil Aviation

The Scheme of Amalgamation of Air India Limited and Indian Airlines Limited with National Aviation Company of India Limited was approved by the Board of Directors of all the three Companies.

Thereafter, the Meetings of Secured and Unsecured Creditors of Air India  and Indian Airlines were held in New Delhi on 28 June 2007, in which the Scheme of Amalgamation was approved by the Creditors.  The final hearing of the merger petition was held on 31 July 2007 wherein the last date for submissions of objections was fixed on 8 August 2007 and the Order of the Ministry of Corporate Affairs is awaited.

The Authorized and Paid-Up Share Capital of the merged entity will be Rs.15000.500 Millions and Rs.1450.000 Millions, respectively.

It has been decided that post merger, the new entity will be known as “Air India” while “Maharaja” will be retained as its mascot.  The logo of the new airline will be a red colored flying swan with the “Konark Chakra” in orange placed inside it.  The flying swan has been morphed from Air India’s characteristic logo “The Centaur” whereas the “Konark Chakra” was reminiscent of Indian’s logo.  The Corporate Office of NACIL will be at Mumbai.

The Government has approved the appointment of Shri V Thulasidas and Dr V Trivedi as Chairman and Managing Director and Joint Managing Director, respectively, of the merged entity, with effect from the date of merger.

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.51.31
UK Pound	1	Rs.81.37
Euro	1	Rs.67.98

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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		27

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.