S1. Summary Information

		Country	India
Company Name	INFOTEL BROADBAND SERVICES LIMITED	Principal Name 1	Mr. Mukesh Dhirubhai Ambani
Status	Good	Principal Name 2	Mr. Manoj Harjivandas Modi
		Registration #	11-234712
Street Address	3rd Floor, Makers Chambers IV, 222, Nariman Point, Mumbai - 400021, Maharashtra
Established Date	15.02.2007	SIC Code	--
Telephone#	91-172-5098370	Business Style 1	providing Broadband Service
Fax #	91-172-5098370	Business Style 2	--
Homepage	--	Product Name 1	--
# of employees	Not Available	Product Name 2	--
Paid up capital	Rs.45335,000,000/-	Product Name 3	--
Shareholders	Bodies corporate - 98.24% Directors or relatives of Directors - 1.72% Other top fifty shareholders - 0.04%	Banking	Axis Bank Limited
Public Limited Corp.	No	Business Period	05 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	Ba (52)
Related Company
Relation	Country	Company Name	CEO
Subsidiary	India	Infotel Telecom Limited	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2011		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	193,296,000	Current Liabilities	1,861,584,000
Inventories	0.000	Long-term Liabilities	86,892,540,000
Fixed Assets	12,274,000	Other Liabilities	0.000
Deferred Assets	0.000	Total Liabilities	88,754,124,000
Invest& other Assets	133,825,448,000	Retained Earnings	0.000
		Net Worth	45,276,894,000
Total Assets	134,031,018,000	Total Liab. & Equity	134,031,018,000
Total Assets (Previous Year)	93,412,000
P/L Statement as of	31.03.2011		(Unit: Indian Rs.)
Sales	1,980,000	Net Profit	(48.199,000)
Sales(Previous yr)	1,478,000	Net Profit(Prev.yr)	(9,908,000)

MIRA INFORM REPORT

Report Date :

12.10.2012

IDENTIFICATION DETAILS

Name :	INFOTEL BROADBAND SERVICES LIMITED (w.e.f.19.07.2010)
Formerly Known As :	INFOTEL BROADBAND SERVICES PRIVATE LIMITED
Registered Office :	3rd Floor, Makers Chambers Iv, 222, Nariman Point, Mumbai - 400021, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	15.02.2007
Com. Reg. No.:	11-234712
Capital Investment / Paid-up Capital :	Rs. 45335.000 Millions
CIN No.: [Company Identification No.]	U72900MH2007PLC234712
TAN No.: [Tax Deduction & Collection Account No.]	PTLI10699D MUMI179B
PAN No.: [Permanent Account No.]	AABCI6363G
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is engaged in the business of providing Broadband Services, Telecom and Information Technology enabled and related services.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (52)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 180000000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a subsidiary of Reliance Industries Limited. RIL holds 95% of the subscribed equity shares of the subject. It has an All – India Internet Service provider category ‘A’ license. It was a successful bidder in all the 22 Indian telecommunication circles in the auction of broad and wireless accers spectrum conducted by the department of telecommunications in June 2010. It is an established company having good track. Trade relations are reported as decent. Business is active. Payments are reported to be regular and as per commitment. In view of strong holding, the company can be considered good for business dealings at usual trade terms and condition.

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 – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

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

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long Term – Instruments (Debentures) = AAA
Rating Explanation	Highest degree of safety and lowest credit risk
Date	June 2012

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

LOCATIONS

Registered Office / Corporate Office 1:	3rd Floor, Makers Chambers Iv, 222, Nariman Point, Mumbai - 400021, Maharashtra, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	anuragp72@gmail.com ratnesh.rukhariyar@ril.com
Head Office :	C-135, Industrial Aera, Phase 8, Mohali-160062, Punjab, India
Tel. No.:	91-172-5098370
Fax No.:	91-172-5098370
Corporate Office 2 :	77B, 3^rd Floor, IFFCO Road, Sector-18, Gurgaon – 122 015, Haryana, India
Tel. No.:	91-124-4310000

DIRECTORS

AS ON 07.09.2011

Name :	Mr. Mukesh Dhirubhai Ambani
Designation :	Chairman
Address :	Sea Wind, 39, Cuffe Parade, Colaba, Mumbai - 400005, Maharashtra, India
Date of Birth/Age :	19.04.1957
Date of Appointment :	22.06.2010
DIN No.:	00001695

Other Directorship:

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	L17110MH1973PLC019786	RELIANCE INDUSTRIES LIMITED	Managing director	19-04-09	01-04-77	Active	NO
2	L23200GJ1969PLC001569	INDIAN PETROCHEMICALS CORPORATION LIMITED	Director	04-06-02	04-06-02	Amalgamated	NO
3	U80101MH2002NPL136300	PRATHAM EDUCATION FOUNDATION	Director	24-06-02	24-06-02	Active	NO
4	L11100GJ2005PLC048030	RELIANCE PETROLEUM LIMITED	Director	24-10-05	24-10-05	Amalgamated	NO
5	U67120MH2005PTC157980	KDA ENTERPRISES PRIVATE LIMITED	Director	22-09-07	12-12-05	Active	NO
6	U17120MH1998PLC114010	RELIANCE RETAIL LIMITED	Director	04-03-06	04-03-06	Active	NO
7	U72900PB2007PLC030897	INFOTEL BROADBAND SERVICES LIMITED	Director	07-09-11	22-06-10	Active	NO
8	U85110MH2010NPL207270	RELIANCE FOUNDATION	Director	30-08-10	30-08-10	Active	NO
9	U52100MH2008PTC178019	IMG RELIANCE PRIVATE LIMITED	Director	29-09-11	10-03-11	Active	NO

Name :	Mr. Manoj Harjivandas Modi
Designation :	Director
Address :	10A/B, Building No.26, Sudhakar Co-operative Housing Society, Narayan Dabholkar Road, Mumbai - 400006, Maharashtra, India
Date of Birth/Age :	03.07.1957
Date of Appointment :	22.06.2010
DIN No.:	00056207

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	U72200KA1991PTC012483	TALLY SOLUTIONS PRIVATE LIMITED	Director	09-12-99	09-12-99	19-05-09	Active	NO
2	L11100GJ2005PLC048030	RELIANCE PETROLEUM LIMITED	Director	24-10-05	24-10-05	27-03-07	Amalgamated	NO
3	U17120MH1998PLC114010	RELIANCE RETAIL LIMITED	Director	04-03-06	04-03-06	-	Active	NO
4	U72900PB2007PLC030897	INFOTEL BROADBAND SERVICES LIMITED	Director	07-09-11	22-06-10	-	Active	NO
5	L55101WB1949PLC017981	EIH LIMITED	Additional director	31-10-11	31-10-11	-	Active	NO

Name :	Mr. Mahendra Nahata
Designation :	Director
Address :	House No.W-48, Greater Kailash, New Delhi - 110048, India
Date of Birth/Age :	19.05.1959
Date of Appointment :	22.06.2010
DIN No.:	00052898

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	L64200HP1987PLC007466	HIMACHAL FUTURISTIC COMMUNICATIONS LIMITED	Managing director	11-05-87	11-05-87	-	Active	NO
2	U64203HP1994PLC014541	EXICOM TELE-SYSTEMS LIMITED	Director	10-05-94	10-05-94	01-12-08	Active	NO
3	U93090TN1960PLC004355	HTL LIMITED	Director	31-12-02	31-12-02	-	Active	NO
4	L00000MH1946PLC197474	QUADRANT TELEVENTURES LIMITED	Director	29-04-03	29-04-03	09-04-10	Active	NO
5	U64202DL2004PTC126863	INDIA CARD TECHNOLOGY PRIVATE LIMITED	Nominee director	24-05-05	24-05-05	-	Active	NO
6	U74140HP2007PTC031452	SUNVISION ENGINEERING COMPANY PRIVATE LIMITED	Director	22-08-07	22-08-07	14-09-07	Amalgamated	NO
7	U72300DL2007PTC167902	SMART DIGIVISION PRIVATE LIMITED	Director	26-12-08	19-02-08	11-04-11	Active	NO
8	U72900MH2007PLC204763	VIDEOCON TELECOMMUNICATIONS LIMITED	Additional director	10-06-08	10-06-08	15-12-08	Active	NO
9	U72900PB2007PLC030897	INFOTEL BROADBAND SERVICES LIMITED	Director	07-09-11	26-02-10	-	Active	NO
10	U51909PB2010PTC033763	INFOTEL ACCESS ENTERPRISES PRIVATE LIMITED	Director	01-04-10	01-04-10	-	Active	NO
11	U51909PB2010PTC033760	INFOTEL GIGAHERZ ENTERPRISES PRIVATE LIMITED	Director	01-04-10	01-04-10	-	Active	NO
12	U93000DL2010PTC200097	DIGIVIVE SERVICES PRIVATE LIMITED	Director	12-09-11	07-02-11	-	Active	NO
13	U64200DL2010PTC211117	DRAGONWAVE HFCL INDIA PRIVATE LIMITED	Director	07-12-11	10-03-11	-	Active	NO
14	U67190DL2011PTC213857	DIGIVISION HOLDINGS PRIVATE LIMITED	Additional director	30-07-11	30-07-11	-	Active	NO
15	U51909PB2010PTC033762	MN VENTURES PRIVATE LIMITED	Director	29-09-11	27-08-11	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Puneet Anurag
Designation :	Secretary
Address :	House No.1434, Pushpa C Complex, Sector – 49-B, Chandigarh – 160 047, India
Date of Birth/Age :	25.04.1972
Date of Appointment :	26.02.2010
PAN No.:	AEMPC7864E
Name :	Mr. Raja Kolumum Ramchandran
Designation :	Manager
Address :	F No.1703-1704, Building No.1, Raheja Classique, New Link Road, Oshieara, Andheri (West), Mumbai-400053, Maharashtra, India
Date of Birth/Age :	19.12.1956
Date of Appointment :	22.06.2010
PAN No.:	ADLPR6435Q

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 07.09.2011

Names of Shareholders (Equity Shares)	No. of Shares
Reliance Industries Limited, India	519690000
Reliance Industries Limited, India	4278000000
K Sethuraman jointly with Reliance Industries Limited, India	1
K. R.Raja jointly with Reliance Industries Limited, India	1
Pankaj Mohan Pawar jointly with Reliance Industries Limited, India	1
Ramesh Kumar Damani jointly with Reliance Industries Limited, India	1
Kiran Mathew Thomas jointly with Reliance Industries Limited, India	1
Anant Nahata	75753000
Nextwave Communications Private Limited, India	37876500
Infotel Telecom Holdings Private Limited, India	6312750
Digivision Content Solutions Private Limited, India	4292670
Vikash Agarwal	2020080
Infotel Infocomm Enterprises Private Limited, India	126255000
Total	5050200005

Names of Shareholders (Preference Shares)	No. of Shares
Reliance Industries Investments and Holdings Limited, India	125000000
Total	125000000

AS ON 07.09.2011

Equity Shares Break Up	Percentage
Bodies corporate	98.24
Directors or relatives of Directors	1.72
Other top fifty shareholders	0.04
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in the business of providing Broadband Services, Telecom and Information Technology enabled and related services.
Services :	Broadband Services

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

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

Facilities :

Unsecured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
Debentures unsecured
Non-convertible debentures unsecured	20000.000	0.000
Rupee term loans unsecured
Rupee term loans others unsecured	0.000	74.729
Foreign currency loans unsecured
Foreign currency loans banks unsecured	66892.540	0.000
Total	86892.540	74.729
Notes 1) Debentures referred to above consist of: (a) 10,000 Unsecured Redeemable Non Convertible Debentures (NCD - PPD1) of face value Rs.10,00,000/- each, aggregating to Rs 10000.000 Millions ( Previous year Rs. Nil ) redeemable at par on 15th September 2020. (b) 10,000 Unsecured Redeemable Non Convertible Debentures (NCD - PPD2) of face value Rs.10,00,000/- each, aggregating to Rs 10000.000 Millions ( previous year Rs. Nil ) redeemable at par on 4th October 2020. (c) All payment obligations under NCD - PPD1 and NCD - PPD2 are guaranteed by Reliance Industries Limited, the Holding Company. All payment obligations under Foreign Currency Loans are guaranteed by Reliance Industries Limited, the Holding company

Banking Relations :	--
Auditors 1 :
Name :	Atul Kulshrestha and Company Chartered Accountants
Address :	506, Surya Kiran Building, K.G. Marg, Connaught Place, New Delhi – 110 001, India
Tel. No.:	91-11-41531330/ 41531331/ 41531332
E-Mail :	akc@consultant.com
Pan No. :	AAHFA0196J
Auditors 2 :
Name :	Chaturvedi and Shah Chartered Accountants
Address :	714/715 Tulsiani Chambers, Free Press Journal Marg, Nariman Point, Mumbai-400021, Maharashtra, India
Pan No. :	AAAFC0662N
Auditors 3 :
Name :	S.R. Batliboi and Associates Chartered Accountants
Address :	19th Floor, Express Towers, Nariman Point, Mumbai – 400021, Maharashtra, India
Pan No. :	AABFS3421N
Holding Company :	· Reliance Industries Limited CIN No.:- L17110MH1973PLC019786
Fellow Subsidiary :	Reliance Industrial Investments and Holdings Limited (w.e.f.17th June, 2010) CIN No.:- U65910MH1986PLC041081
Subsidiary :	· Infotel Telecom Limited (w.e.f. 10th February, 2011) CIN No.:- U64204MH2011PLC213276 · Rancore Technologies Private Limited (w.e.f. 31st March, 2011) CIN No.:- U74999MH2007PTC168562
Related Party :	· Infotel Digicomm Private Limited CIN No.:- U64202PB2007PTC030983

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
1726900000	Equity Shares (Fully Paid Up)	Rs.10/- each	Rs. 17269.000 Millions
4278000000	Equity Shares (Partly Paid Up)	Rs.10/- each	Rs. 42780.000 Millions
150050000	0.1% Non Cumulative Redeemable Preference Shares	Rs.10/- each	Rs. 1500.500 Millions
	Total		Rs. 61549.500 Millions

Issued Capital :

No. of Shares	Type	Value	Amount
5050200005	Equity Shares	Rs.10/- each	Rs. 50502.000 Millions
125000000	0.1% Non Cumulative Redeemable Preference Shares	Rs.10/- each	Rs. 1250.000 Millions
	Total		Rs. 51752.000 Millions

Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
772200000	Equity Shares	Rs.10/- each	Rs. 7722.000 Millions
4278000000	Equity Shares	Rs.8.50/- each	Rs. 36363.000 Millions
125000000	0.1% Non Cumulative Redeemable Preference Shares	Rs.10/- each	Rs. 1250.000 Millions
	Total		Rs. 45335.000 Millions

Notes:

1. Out of the above, 51,96,90,000 (Previous Year Nil) Equity Shares of Rs 10/- each fully paid up and 427,80,00,000 (Previous Year Nil) Equity shares of Rs 10/- each called up and paid up to the extent of Rs. 8.50/- each are held by Reliance Industries Limited, the Holding Company and its nominees. In previous year 25,10,000 equity share of Rs 10 each fully paid up were held by Infotel Digicomm Private Limited (IDPL) the then holding company.

2. Pursuant to scheme of amalgamation

(i) 25,25,10,000 (Previous Year- Nil) Equity Shares of Rs 10/-each were issued and allotted to the shareholders of Infotel Holdings Private Limited as fully paid up without payment being received in cash.

(ii) 12,50,00,000, 0.1% Non Cumulative Redeemable Preference Shares of Rs 10/-each were issued and allotted as fully paid up without payment being received in cash to the Preference Shareholders of IDPL. The Preference Shares are redeemable at anytime at the option of the company at Rs 20/-each but in any case not later than June 29, 2030.

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		45335.000	25.100	25.100
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		(58.106)	(9.908)	0.000
NETWORTH		45276.894	15.192	25.100
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		86892.540	74.729	5.700
TOTAL BORROWING		86892.540	74.729	5.700
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		132169.434	89.921	30.800
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		12.274	16.463	0.000
Capital work-in-progress		133809.207	64.534	71.083
INVESTMENT		16.241	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.536	0.065	0.000
	Cash & Bank Balances	9.281	1.607	1.798
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	183.479	10.743	25.892
Total Current Assets		193.296	12.415	27.690
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	18.954	1.746	67.404
	Other Current Liabilities	1839.499	0.616	0.513
	Provisions	3.131	1.129	0.234
Total Current Liabilities		1861.584	3.491	68.151
Net Current Assets		(1668.288)	8.924	(40.461)
MISCELLANEOUS EXPENSES		0.000	0.000	0.178
TOTAL		132169.434	89.921	30.800

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010
	SALES
		Operating Revenue	1.980	1.478
		Other Income	4.585	0.087
		TOTAL (A)	6.565	1.565
Less	EXPENSES
		Employee Related Costs	4.257	0.000
		Administrative Expenses	45.426	6.461
		TOTAL (B)	49.683	6.461
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		(43.118)	(4.896)
Less	FINANCIAL EXPENSES (D)		0.000	0.000
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(43.118)	(4.896)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		5.081	5.012
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		(48.199)	(9.908)
Less	TAX (H)		0.000	0.000
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		(48.199)	(9.908)
	BALANCE CARRIED TO THE B/S		(48.199)	(9.908)
	Earnings / (Loss) Per Share (Rs.)		(0.05)	(3.95)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	(734.18)	(633.10)	NA
Net Profit Margin (PBT/Sales)	(%)	(2434.29)	(670.37)	NA
Return on Total Assets (PBT/Total Assets}	(%)	(23.45)	(34.31)	NA
Return on Investment (ROI) (PBT/Networth)		(0.00)	(0.65)	NA
Debt Equity Ratio (Total Liability/Networth)		1.96	5.15	2.94
Current Ratio (Current Asset/Current Liability)		0.10	3.56	0.41

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	----------------------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	----------------------
22]	Litigations that the firm / promoter involved in	----------------------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	----------------------
26]	Buyer visit details	----------------------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

NOTE

Registered office has been shifted from C – 157, Phase – VII, Industrial Area, Mohali – 160 055, Punjab, India to the present address w.e.f. 20.01.2012

OPERATIONAL REVIEW:

The Company holds an All India Internet Service Provider (ISP) Category 'A' License which entitles it to provide countrywide ISP services in India. The Company commenced its commercial operations in April, 2009 by way of providing bandwidth to few clients in a limited scale.

In the auction for Broadband Wireless Access (BWA) spectrum (2 blocks of 20 MHz each), conducted in year 2010 by Department of Telecommunications, Government of India, the Company was a successful bidder in all 22 telecom service areas (“telecom circles”) in India and has been awarded spectrum (1 block of 20 MHz each) in all 22 telecom circles. The Company is the sole winner of the pan-India BWA spectrum, and is well positioned to provide Internet related services across India

In August 2010, the Company has received the Letter of Allotment of Broadband Wireless Access Spectrum from Department of Telecommunications, Government of India.

The Company perceives the broadband opportunity as a new frontier of knowledge economy in which it can take a leadership position and provide India with an opportunity to be in the forefront among the countries providing world class 4G network and services. The Company aims to be a comprehensive, value added Digital Services player, providing rich, affordable multimedia enabled digital services and experiences to Millions of their citizens across entertainment, education, healthcare, agriculture, urban-rural market linkages, government-citizen interfaces, thereby increasing productivity and employment potential not only in the formal, but also informal sector of the economy which provides livelihood to more than 90% of the labour force. This makes the Company’s strategy closely aligned to India’s national goals.

The Company is in the process of finalizing arrangements with leading global technology players, service providers, infrastructure providers, application developers, device manufacturers and others to leapfrog India to the 4G revolution.

CHANGE OF STATUS OF THE COMPANY

During the year, the Company became a Subsidiary of Reliance Industries Limited. Thereafter, the Company ceased to be a private company consequent to alteration of its Articles of Association pursuant to Section 44 of the Companies Act, 1956, and receipt of fresh certificate of incorporation from the Registrar of Companies on 19^th July, 2010.

AMALGAMATION

During the year the Hon'ble High Court of Punjab and Haryana and Hon'ble High Court of Delhi sanctioned the Scheme of Amalgamation ("Scheme") pursuant to which Infotel Digicomm Private Limited (IDPL) and Infotel Holdings Private Limited (IHPL) were amalgamated with the Company. The Scheme became effective on 16th February 2011 with the appointed date of the Scheme being 1st April 2010. In terms of the Scheme, the Company issued and allotted 25,25,10,000 Equity Shares of Rs.10/- each to the existing Equity Share holders of IHPL and 12,50,00,000 Preference Shares of Rs.10/- each to the Preference Shareholders of IDPL.

Further in terms of the said Scheme, the Authorized Share Capital of the Company increased to Rs. 61549.500 Millions.

SUBSIDIARIES

With the objective to carry out the business of providing National and International Long distance voice, data, video and other value added services, the Company, during the year, promoted Infotel Telecom Limited which was incorporated as its wholly owned subsidiary. During the year, the Company acquired Rancore Technologies Private Limited, a company engaged in Research and Development activities in the area of Telecommunication Technologies which has synergy with the proposed operations of the Company.

In accordance with the general circular issued by the Ministry of Corporate Affairs, Government of India, the Balance Sheet, Profit and Loss Account and other documents of subsidiary companies are not being attached with the Balance Sheet of the Company. The Company will make available the Annual Accounts of the subsidiary companies and the related detailed information to any member of the Company who may be interested in obtaining the same. The annual accounts of the subsidiary companies will also be kept open for inspection at the Registered Office of the Company and that of the respective subsidiary companies. The Consolidated Financial Statements presented by the Company include financial results of its subsidiary companies.

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U72900PB2007PLC030897
Name of the company	INFOTEL BROADBAND SERVICES LIMITED
Address of the registered office or of the principal place of business in India of the company	C – 157, Phase – VII, Industrial Area, Mohali – 160 055, Punjab, India anuragp72@gmail.com
This form is for	Creation of charge
Type of charge	Book Debts Movable Property
Particular of charge holder	Axis Bank Limited, Maker Towers, 13^th Floor, Cuffe Parade, Colaba, Mumbai – 400 005, Maharashtra, India kulkarni.makarand@axisbank.com
Nature of description of the instrument creating or modifying the charge	Unattested Deed of Hypothecation and charge dated June 16, 2010
Date of instrument Creating the charge	16/06/2010
Amount secured by the charge	Rs.23175.000 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest: LIBOR 6 months Terms of Repayment: Final Repayment schedule (1) 31.12.2014 - USD 75 Million (2) 30.06.2015 - USD 75 Million (3) 31.12.2015 - USD 175 Million (4) 30.05.2016 - USD 175 Million Margin: 200 BPPA Extent and Operation of the charge: First ranking charge on whole of the Borrower's movable assets, both present and future, including book debts, receivables, outstanding Moneys, claims, bills, contracts and securities (other than shares in any subsidiary not being telecom Subsidiary), Stock of raw materials, moveable plant and machinery, equipment, furniture, vehicles and receivables from all the bank accounts etc.
Short particulars of the property charged	Whole of the borrowers movable assets, both present and future as more particularly described in Unattested Deed of Hypothecation and Charge dated 16.06.2010.

FIXED ASSETS:

· Leasehold Improvement

· Plant and Machinery

· Office Equipment

· Furniture and Fixture

· ISP License Fee

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs. 53.07
UK Pound	1	Rs. 84.95
Euro	1	Rs.68.24

INFORMATION DETAILS

Report Prepared by :

NTH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	3
--CREDIT LINES	1~10	8
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		52

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.