MIRA INFORM REPORT

Report Date :

07.09.2012

IDENTIFICATION DETAILS

Name :	NSL TEXTILES LIMITED (w.e.f. 24.09.2008)
Formerly Known As :	JAYAVENKATRAMA INDUSTRIES LIMITED JAYAVENKATRAMA SUGAR AND POWER LIMITED
Registered Office :	NSL ICON, Door No.8-2-684/2/A, Plot No.1 to 4, Road No.12, Banjara Hills, Hyderabad- 500034, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	12.02.2002
Com. Reg. No.:	01-038489
Capital Investment / Paid-up Capital :	Rs.1004.224 Millions
CIN No.: [Company Identification No.]	U15429AP2002PLC038489
TAN No.: [Tax Deduction & Collection Account No.]	HYDJ00614FG
PAN No.: [Permanent Account No.]	AABCJ1299AA
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and Exporter of Cotton yarns and fabrics.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is a well established company having satisfactory track. The company has incurred some losses in the current year. However, financial position of the company appears to be sound. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. Company can be considered normal for business dealings at usual trade terms and conditions.

NOTES :

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

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	ICRA
Rating	FUND BASED LIMIT : ICRA BB
Rating Explanation	Having moderate risk of default regarding timely servicing of financial obligation
Date	January, 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 :	NSL ICON, Door No.8-2-684/2/A, Plot No.1 to 4, Road No.12, Banjara Hills, Hyderabad- 500034, Andhra Pradesh, India
Tel. No.:	91-40-30514444
Fax No.:	91-40-23327919 / 30514350
E-Mail :	nsltextilehyd@gmail.com jvilhyd@gmail.com jaya_venkatrama@yahoo.co.in corp_jayavenkatrama@yahoo.co.in info@nsltextiles.com productinfo@nsltextile.com hrinfo@nsltextiles.com nstextilehyd@gmail.com karuturi.sairam@nsltextiles.com
Website :	www.nsltextiles.com
Factory 1 :	6/275-1, Inkollu (Mandal), Prakasam (District)- 523167, Andhra Pradesh, India
Tel. No.:	91-8594-255377 / 255379
Fax No.:	91-8594-244232 / 255378
Factory 2 :	Inkollu Village and Mandal, Prakasam District-523167, India
Factory 3 :	Survey No. 237, Kommuru Road, Veeravalli, Rangannagudem Post, Krishna District-521110, India
Factory 4 :	Survey No. 371-379, Kunchalvaripalem Village, Cherukupalli Mandal, Guntur District, India
Factory 5 :	Survey No. 253, Budampadu, Guntur District-522017, India
Sales Office:	#608, Span Trade Centre, Opposite Kochrab Ashram, Paldi, Ahmedabad-380006, Gujarat, India
Tel. No.:	91-79-26577662
E-Mail :	lakhotia.nk@nsltextiles.com

DIRECTORS

As on 30.09.2011

Name :

Mr. Mandava Prabhakar Rao

Designation :

Director

Address :

H. No.8-2-293/82/A, Plot No.543, Road No.26, Jubilee Hills, Hyderabad-500033, Andhra Pradesh, India

Qualification :

M Sc Agriculture

Date of Appointment :

12.02.2002

DIN No.:

00009650

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	U40109DL1985PTC114839	NSL RENEWABLE POWER PRIVATE LIMITED	Director	1/7/2010	4/1/1985	-	Active	NO
2	U01112AP1992PLC014346	PRABHAT AGRI BIOTECH LIMITED	Director	9/6/1992	9/6/1992	-	Active	NO
3	L32101AP1990PLC011311	INCAP LIMITED	Director	28/06/1992	28/06/1992	18/02/2010	Active	NO
4	U18100AP1995PLC022418	PRABHAT INDUSTRIAL CORPORATION LIMITED	Director	28/11/1995	28/11/1995	30/03/2008	Amalgamated	NO
5	U74999AP1999PTC032118	MANDAVA COLD STORAGE PRIVATE LIMITED	Director	1/11/2000	1/11/2000	-	Active	NO
6	U99999AP1995PLC020845	PERPETUAL ENERGY SYSTEMS LIMITED	Director	23/07/2001	23/07/2001	30/03/2008	Active	NO
7	U15429KA1999PLC026121	NSL SUGARS LIMITED	Director	1/4/2010	26/07/2001	-	Active	NO
8	U05005AP2001PTC037782	SREE KAMADHENU AQUATECH PRIVATE LIMITED	Director	11/9/2001	11/9/2001	-	Active	NO
9	U40109AP2001PTC037830	INDUR GREEN POWER PRIVATE LIMITED	Director	21/09/2001	21/09/2001	-	Active	NO
10	U15429AP2002PLC038489	NSL TEXTILES LIMITED	Director	12/2/2002	12/2/2002	-	Active	NO
11	U24231AP2002PLC038964	SWADESHI BIO-TECHNICS LIMITED	Director	15/05/2002	15/05/2002	30/03/2008	Active	NO
12	U24231AP2002PTC038984	SWARNABHARAT BIO-TECHNICS PRIVATE LIMITED	Director	17/05/2002	17/05/2002	-	Active	NO
13	U63023AP2003PTC040654	NSL POWER PRIVATE LIMITED	Director	11/3/2003	11/3/2003	-	Active	NO
14	U18101AP2004PLC044154	NSL TEXTILES (EDLAPADU) LIMITED	Director	14/09/2004	14/09/2004	-	Amalgamated	NO
15	U70102AP2004PTC044588	DIVYASREE NSL INFRASTRUCTURE PRIVATE LIMITED	Director	9/10/2008	10/11/2004	-	Active	NO

Name :

Mr. Chigurupati Appa Rao

Designation :

Director

Address :

Flat No.203, Royal Palace, Jai Bharat Nagar, Nizampet Road, Kukatpally, Hyderabad-500072, Andhra Pradesh, India

Qualification :

B Com

Date of Appointment :

22.03.2004

DIN No.:

00011095

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	U15429AP2002PLC038489	NSL TEXTILES LIMITED	Whole-time director	1/7/2010	22/03/2004	-	Active	NO
2	U70102AP2004PTC043959	CENTURY AVENUES PRIVATE LIMITED	Director	24/08/2004	24/08/2004	-	Active	NO
3	U18101AP2004PLC044154	NSL TEXTILES (EDLAPADU) LIMITED	Director	24/12/2004	24/12/2004	-	Amalgamated	NO
4	L32101AP1990PLC011311	INCAP LIMITED	Director	20/09/2005	20/09/2005	5/3/2010	Active	NO
5	U24100AP2005PTC047540	PRESTIGE AGRI INPUTS PRIVATE LIMITED	Director	21/09/2005	21/09/2005	-	Active	NO
6	U45200AP2005PTC048066	NSL SEZ (HYDERABAD) PRIVATE LIMITED	Director	16/11/2005	16/11/2005	-	Active	NO
7	U70102WB2005PTC124195	DESIGNER REAL ESTATE INDIA PRIVATE LIMITED	Nominee director	29/09/2006	17/11/2005	15/06/2007	Active	NO
8	U10300AP2005PLC048140	NSL POWER AND INFRATECH LIMITED	Director	23/11/2005	23/11/2005	-	Active	NO
9	U70102AP2005PTC048141	COZY PROPERTIES PRIVATE LIMITED	Director	23/11/2005	23/11/2005	-	Active	NO
10	U17121AP2007PTC054726	NCC USHA GINNING MILLS PRIVATE LIMITED	Director	6/7/2007	6/7/2007	26/07/2010	Active	NO
11	U17111MH2007PTC172499	NCC CJ COTTON PRIVATE LIMITED	Director	19/07/2007	19/07/2007	5/1/2008	Active	NO
12	U17111MH2007PTC172498	NCC MATOSHRI COTTON PRIVATE LIMITED	Director	19/07/2007	19/07/2007	26/07/2010	Active	NO
13	U17111MH2007PTC172497	NCC JAY LAXMI FIBERS PRIVATE LIMITED	Director	19/07/2007	19/07/2007	26/07/2010	Active	NO
14	U17200MH2007PTC173015	KV BALAJI FIBERS PRIVATE LIMITED	Director	10/8/2007	10/8/2007	5/2/2009	Active	YES
15	U45209AP2007PTC056015	EXCELSIOR PROJECTS PRIVATE LIMITED	Director	19/10/2007	19/10/2007	-	Active	NO
16	U17200MH2007PTC173014	NCC ABHINANDAN COTTON PRIVATE LIMITED	Nominee director	1/11/2007	1/11/2007	26/07/2010	Active	NO
17	U17121MH2007PTC172490	NCC RADHAKRISHNA COTTON PRIVATE LIMITED	Nominee director	1/11/2007	1/11/2007	5/1/2008	Active	NO
18	U17121MH2007PTC173124	NCC NARSINH COTTON PRIVATE LIMITED	Nominee director	1/11/2007	1/11/2007	5/1/2008	Active	NO
19	U17200MH2007PTC173157	NCC SHRI COTTON PRIVATE LIMITED	Nominee director	1/11/2007	1/11/2007	5/1/2008	Active	NO
20	U17111MH2007PTC172496	NCC SANTOSH FIBERS PRIVATE LIMITED	Nominee director	1/11/2007	1/11/2007	5/1/2008	Active	NO
21	U17111MH2007PTC172500	NCC GANAPATHI COTTON PRIVATE LIMITED	Nominee director	1/11/2007	1/11/2007	26/07/2010	Active	NO
22	U15429KA1999PLC026121	NSL SUGARS LIMITED	Director	18/08/2008	26/12/2007	6/3/2010	Active	NO
23	U17100AP1998PTC029417	EXCEL COTTON COMPANY PRIVATE LIMITED	Director	30/09/2011	20/12/2010	-	Active	NO
24	U17124AP2007PTC079001	MAS FABRIC PARK (INDIA) PRIVATE LIMITED	Director	29/06/2011	31/03/2011	-	Active	NO
25	U18100AP1982PTC003448	SREE ANANTHA LAKSHMI TEXTILES PRIVATE LIMITED	Additional director	25/01/2012	25/01/2012	-	Active	NO

Name :

Mr. Ajay Kumar Paturi

Designation :

Director

Address :

1-4-210/49 to 51, Prathampuri , ECIL, Hyderabad- 520062, Andhra Pradesh, India

Qualification :

B Tech Textiles

Date of Birth/Age :

17.09.1952

Date of Appointment :

16.03.2006

DIN No.:

00053029

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	U18101AP2004PLC044154	NSL TEXTILES (EDLAPADU) LIMITED	Whole-time director	16/03/2010	16/03/2006	-	Amalgamated	NO
2	U15429AP2002PLC038489	NSL TEXTILES LIMITED	Whole-time director	1/7/2011	16/03/2006	-	Active	NO
3	U24100AP2005PTC047540	PRESTIGE AGRI INPUTS PRIVATE LIMITED	Director	29/07/2009	15/06/2009	2/11/2011	Active	NO
4	U18100AP1982PTC003448	SREE ANANTHA LAKSHMI TEXTILES PRIVATE LIMITED	Additional director	25/01/2012	25/01/2012	-	Active	NO

Name :

Ms. Mandva Asha Priya

Designation :

Director

Address :

H. No.8-2-293/82/A, Plot No.543, Road No.26, Jubilee Hills, Hyderabad-500033, Andhra Pradesh, India

Qualification :

M Sc Home Science

Date of Appointment :

12.02.2002

DIN No.:

01199936

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	U18100AP1995PLC022418	PRABHAT INDUSTRIAL CORPORATION LIMITED	Director	28/11/1995	28/11/1995	-	Amalgamated	NO
2	U40109DL1985PTC114839	NSL RENEWABLE POWER PRIVATE LIMITED	Director	18/10/1997	18/10/1997	-	Active	NO
3	U74999AP1999PTC032118	MANDAVA COLD STORAGE PRIVATE LIMITED	Managing director	1/9/2010	16/07/1999	-	Active	NO
4	U15429KA1999PLC026121	NSL SUGARS LIMITED	Director	26/07/2001	26/07/2001	-	Active	NO
5	U05005AP2001PTC037782	SREE KAMADHENU AQUATECH PRIVATE LIMITED	Director	11/9/2001	11/9/2001	-	Active	NO
6	U15429AP2002PLC038489	NSL TEXTILES LIMITED	Director	12/2/2002	12/2/2002	-	Active	NO
7	U63023AP2003PTC040654	NSL POWER PRIVATE LIMITED	Director	11/3/2003	11/3/2003	-	Active	NO
8	U99999AP1995PLC020845	PERPETUAL ENERGY SYSTEMS LIMITED	Managing director	30/07/2011	30/07/2003	-	Active	NO
9	U45200AP2005PTC045511	NSL NAGAPATNAM POWER AND INFRATECH PRIVATE LIMITED	Director	2/3/2005	2/3/2005	-	Active	NO
10	U51225KA2005PTC036073	MADDURAMMA TRADERS PRIVATE LIMITED	Director	15/04/2005	15/04/2005	-	Strike off	NO
11	U70102AP2004PTC043959	CENTURY AVENUES PRIVATE LIMITED	Director	13/09/2005	13/09/2005	-	Active	NO
12	U45200AP2005PTC048066	NSL SEZ (HYDERABAD) PRIVATE LIMITED	Director	5/4/2006	5/4/2006	-	Active	NO
13	U15421AP2006PLC050837	NSL KRISHNAVENI SUGARS LIMITED	Director	8/8/2006	8/8/2006	-	Active	NO
14	U40109TN2006PTC085606	REGEN POWERTECH PRIVATE LIMITED	Director	27/12/2006	27/12/2006	19/06/2009	Active	NO
15	U70101AP2007PTC053994	TOPNOTCH PROJECTS PRIVATE LIMITED	Director	14/05/2007	14/05/2007	-	Active	NO

Name :

Mr. Prabal Ranjan Roy

Designation :

Director

Address :

36, Amaltas Bunglaow, Bodakdev, Ahmedabad-380054, India

Qualification :

PhD Textiles

Date of Appointment :

28.12.2009

DIN No.:

00514330

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	U17219PB1993PLC013187	MALWA INDUSTRIES LTD	Director	27/04/2006	27/04/2006	-	Active	NO
2	U17110GJ1996PTC029824	SAN-BLUE ENTERPRISES PRIVATE LIMITED	Director	4/7/2009	4/7/2009	2/5/2012	Active	NO
3	U15429AP2002PLC038489	NSL TEXTILES LIMITED	Director	28/12/2009	28/12/2009	-	Active	NO

Name :

Mr. Narasimha Ramulu Pantam

Designation :

Director

Address :

Flat No.402, 4^th Floor, Garden Residency, II Lane, Sai Enclaves Colony, Habsiguda, Hyderabad-500007, Andhra Pradesh, India

Qualification :

B Com, M Com, LLB, FCA

Date of Appointment :

08.06.2006

DIN No.:

00064196

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	U31909AP1980PLC002697	VIJAI ELECTRICALS LIMITED	Director	28/07/2006	24/12/2005	18/12/2009	Active	NO
2	U15429AP2002PLC038489	NSL TEXTILES LIMITED	Director	8/6/2006	8/6/2006	-	Active	NO
3	L45200AP1993PLC015545	LANCO INFRATECH LIMITED	Director	3/9/2007	16/06/2006	13/04/2012	Active	NO
4	L74999RJ1938PLC019511	JK LAKSHMI CEMENT LIMITED	Nominee director	6/9/2006	6/9/2006	20/02/2008	Active	NO
5	U40101AP2006PTC049472	KVK ENERGY AND INFRASTRUCTURE Private LIMITED	Director	28/10/2006	28/10/2006	11/10/2007	Active	NO
6	U45200AP2005PTC045511	NSL NAGAPATNAM POWER AND INFRATECH PRIVATE LIMITED	Director	5/9/2008	7/2/2008	-	Active	NO
7	U40109DL1985PTC114839	NSL RENEWABLE POWER PRIVATE LIMITED	Director	29/09/2009	31/10/2008	-	Active	NO
8	U40109TN2006PTC085606	REGEN POWERTECH PRIVATE LIMITED	Nominee director	23/09/2009	19/06/2009	13/04/2012	Active	NO
9	U45200AP1992PLC014925	SHALIVAHANA GREEN ENERGY LIMITED	Director	27/09/2010	26/09/2009	13/04/2012	Active	NO
10	U18101AP2004PLC044154	NSL TEXTILES (EDLAPADU) LIMITED	Director	5/7/2010	28/12/2009	-	Amalgamated	NO
11	U31200UP2006PLC031982	LANCO ANPARA POWER LIMITED	Director	24/08/2010	21/01/2010	-	Active	NO
12	U15429KA1999PLC026121	NSL SUGARS LIMITED	Director	3/9/2010	6/3/2010	-	Active	NO
13	U74120AP2008PTC074583	NUZIVEEDU SEEDS PRIVATE LIMITED	Director	28/09/2011	17/08/2010	13/04/2012	Active	NO
14	U74120AP2008PTC074522	MANDAVA HOLDINGS PRIVATE LIMITED	Director	29/09/2011	29/12/2010	13/04/2012	Active	NO
15	U45400AP2007PTC054029	NSL CONVENTIONAL POWER PRIVATE LIMITED	Director	30/09/2011	5/1/2011	-	Active	NO
16	U40109AP2008PTC059817	NSL ORISSA POWER AND INFRATECH PRIVATE LIMITED	Director	30/09/2011	5/1/2011	-	Active	NO

Name :

Mr. Ramanna Anand

Designation :

Director

Address :

Flat No.0-1,15^th Floor, Cuffe Castle, Cuff Parade, Colaba, Mumbai-400005, Maharashtra, India

Qualification :

B Sc

Date of Birth/Age :

05.11.1933

Date of Appointment :

29.08.2009

DIN No.:

00040325

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	U17110MH1982PTC027087	NOVA SILK Private LTD	Director	6/5/1982	6/5/1982	-	Active	NO
2	L33130AP1979PLC002521	NCL INDUSTRIES LTD	Director	14/06/2008	4/6/1982	-	Active	NO
3	U01711KA1993FTC014292	LUWA INDIA PRIVATE LIMITED	Director	10/5/1993	10/5/1993	16/07/2009	Active	NO
4	L72200PN1988PLC068972	INDO COUNT INDUSTRIES LIMITED	Director	27/11/1995	27/11/1995	-	Active	NO
5	U29269TZ1996PLC007229	MEHALA MACHINES INDIA LIMITED	Director	30/05/1996	30/05/1996	13/02/2009	Active	NO
6	U29299KA2001PTC029952	EASTERN ENGINEERING COMPANY PRIVATE LIMITED	Director	31/12/2001	31/12/2001	21/07/2008	Active	NO
7	U74999MH1966NPL013602	THE INDO-ITALIAN CHAMBERS OF COMMERCE AND INDUSTRY	Director	30/09/2002	30/09/2002	-	Active	NO
8	U99999MH1969NPL014319	INDIAN TEXTILE ACCESSORIES AND MACHINERY MANUFACTURERS' ASSOCIATION	Director	16/09/2005	16/09/2005	-	Active	NO
9	U28920MH1982PTC027261	EASTERN ENGINEERING CO (BOMBAY) PVT LTD	Director	30/08/2006	1/6/2006	-	Active	NO
10	L17119PN1990PLC058139	PRANAVADITYA SPINNING MILLS LIMITED	Additional director	31/07/2007	31/07/2007	-	Active	NO
11	U15429AP2002PLC038489	NSL TEXTILES LIMITED	Director	25/09/2009	29/08/2009	-	Active	NO
12	U18101AP2004PLC044154	NSL TEXTILES (EDLAPADU) LIMITED	Additional director	28/12/2009	28/12/2009	5/7/2010	Amalgamated	NO
13	U93000MH2010PTC199719	ETS EASTERN SERVICES PRIVATE LIMITED	Director	4/2/2010	4/2/2010	-	Active	NO
14	U29253KA2011PTC058597	MARZOLI TEXTILE MACHINERY MANUFACTURERS PRIVATE LIMITED	Director	11/5/2011	11/5/2011	-	Active	NO
15	U31400MH2012PTC225956	FERRARI EASTERN FANS INDIA PRIVATE LIMITED	Director	12/1/2012	12/1/2012	-	Active	NO
16	U29253MH2012PTC227674	SMIT TEXTILE MACHINERY MANUFACTURERS PRIVATE LIMITED	Director	5/3/2012	5/3/2012	-	Active	NO

Name :

Mr. Gopalakrishna Muddusetty

Designation :

Director

Address :

Bhramara, 12-2-823A/23, Santoshnagar, Mehdipathnam, Hyderabad – 500028, Andhra Pradesh, India

Qualification :

B.SC, B.L, I.A.S., A.M.P.,CANADA

Date of Appointment :

08.09.2010

DIN No.:

00088454

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	L23209AP1984PLC004635	THE ANDHRA PETROCHEMICALS LIMITED	Director	30/09/1997	30/09/1997	30/08/2007	Active	NO
2	U31909AP1983PTC003971	PEC POTENTIOMETERS PRIVATE LIMITED	Director	17/09/2003	17/09/2003	30/04/2011	Active	NO
3	U24111AP1988PLC009231	ANDHRA PRADESH GAS POWER CORPORATION LIMITED	Director	9/1/2009	29/09/2003	30/09/2010	Active	NO
4	U31909AP1999PLC033104	RITHWIK ENERGY SYSTEMS LIMITED	Director	16/01/2004	16/01/2004	6/4/2009	Active	NO
5	L28990AP1978PLC002260	JOCIL LIMITED	Director	22/01/2005	22/01/2005	-	Active	NO
6	U01211AP2005PTC045437	SENTINI BIOPRODUCTS PRIVATE LIMITED	Director	11/5/2005	11/5/2005	-	Active	NO
7	L29253AP1983PLC004141	PITTI LAMINATIONS LITMITED	Additional director	28/06/2007	28/06/2007	-	Active	NO
8	L40106AP1985PLC005318	BGR ENERGY SYSTEMS LIMITED	Director	19/09/2008	18/07/2007	-	Active	NO
9	L64203AP2000PLC035451	GOLDSTONE INFRATECH LIMITED	Director	30/09/2008	29/10/2007	-	Active	NO
10	U40300AP2006PLC050927	ARANI POWER SYSTEMS LIMITED	Director	10/3/2008	10/3/2008	-	Active	NO
11	L30007AP1991PLC013211	KERNEX MICROSYSTEMS (INDIA) LIMITED........	Director	25/09/2008	25/09/2008	-	Active	NO
12	L72200AP1994PLC018351	B2B SOFTWARE TECHNOLOGIES LIMITED	Director	30/09/2009	30/09/2008	17/12/2010	Active	NO
13	U15540AP2008PTC060320	SENTINI BEVERAGES PRIVATE LIMITED	Director	31/12/2009	31/12/2009	2/1/2012	Active	NO
14	U24239AP2005PLC047307	VIJAYASRI ORGANICS LIMITED	Director	17/09/2010	19/05/2010	-	Active	NO
15	U74120AP2008PTC074583	NUZIVEEDU SEEDS PRIVATE LIMITED	Director	28/09/2011	17/08/2010	-	Active	NO
16	U15429AP2002PLC038489	NSL TEXTILES LIMITED	Director	30/09/2011	8/9/2010	-	Active	NO
17	U40109DL1985PTC114839	NSL RENEWABLE POWER PRIVATE LIMITED	Director	29/09/2010	28/09/2010	-	Active	NO

Name :

Mr. Mandava Venkatram Chowdary

Designation :

Whole – time Director

Address :

H. No.8-2-293/82/A, Plot No.543, Road No.26, Jubilee Hills, Hyderabad – 500033, Andhra Pradesh, India

Qualification :

BBM, MBA

Date of Appointment :

05.09.2011

DIN No.:

03567730

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	U15421MH2000PLC130397	JAY MAHESH SUGAR INDUSTRIES LIMITED	Director	30/09/2011	25/06/2011	-	Active	NO
2	U15429AP2002PLC038489	NSL TEXTILES LIMITED	Whole-time director	5/9/2011	5/9/2011	-	Active	NO
3	U74120AP2008PTC074522	MANDAVA HOLDINGS PRIVATE LIMITED	Additional director	18/04/2012	18/04/2012	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
M Prabhakar Rao	11183512
M Asha Priya	2947515
M Venkatram Choudhry	11547
Mandava Holdings Private Limited, India	67708394
Mandava Cold Storage Private Limited, India	2500000
Mavi Investment Fund, Mauritius	10000000
Krishna Prasad	4194444
Dover Finance Limited, Mauritius	3420000
S Satish Kumar	788
C. Chandra Babu	69
K. Ravi Kumar	69
Total	101966338

As on 30.09.2011

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	17.26
Bodies corporate	68.85
Directors or relatives of Directors	13.86
Other top fifty shareholders	0.03
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Cotton yarns and fabrics.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• State Bank of India, Specialised Commercial Branch, (Mid Corporate Group) Kannavarithota, Gunthur-522004, Andhra Pradesh, India

Facilities :

SECURED LOAN	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Rupee term loans banks secured	(A)7936.178	4024.176
Foreign currency loans banks secured	0.000	46.866
Working capital loans banks secured	2205.453	580.900
Loans taken for vehicles secured	(B)0.000	0.928
Interest accrued due other debt secured	23.319	6.429
Total	10164.950	4659.299
Footnotes (A) Repayable within a year Rs. 839.718 millions (Previous year: Rs.247.153 millions) (B) Repayable within a year Rs. NIL millions (Previous year: Rs.0.042 million)
UNSECURED LOAN	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Fully convertible debentures unsecured	(A)500.000	0.000
Deposits related parties unsecured	295.000	0.000
Interest accrued due other debt unsecured	5.973	0.000
Total	800.973	0.000
Footnotes (A) 10 Debentures (Previous year NIL) of Rs 50.000 millions each (of the above all (Previous year Nil) debentures are held by Mandava Holdings Private Limited, the Holding Company.

Banking Relations :	--
Auditors :
Name :	Mastanaiah and Company Chartered Accountants
Address :	11/1, Arundelpet, Guntur-522002, Andhra Pradesh, India
PAN.:	AADFM5561H
Holding Company :	Mandava Holdings Private Limited CIN U74120AP2008PTC074522
Subsidiaries :	Prabhat Industrial Corporation Limited (for a part of the year)
Fellow Subsidiaries and Associates	Nuziveedu Seeds Private Limited NSL Sugars Limited CIN U15429KA1999PLC026121 NSL Cotton Corporation Private Limited CIN U17121AP2007PTC054034 NSL Renewable Power Private Limited CIN U40109DL1985PTC114839 Advantage Real Estates India Private Limited CIN U70102AP2005PTC047911 NSL Krishnaveni Sugars Limited CIN U15421AP2006PLC050837 NCC Abhinandan Cotton Private Limited CIN U17200MH2007PTC173014 NCC Jay Laxmi Fibres Private Limited CIN U17111MH2007PTC172497 NCC Narsinh Cotton Private Limited CIN U17121MH2007PTC173124 NCC Radhakrishna Cotton Private Limited CIN U17121MH2007PTC172490 NCC Santosh Fibers Private Limited CIN U17111MH2007PTC172496 NCC Venkateswara Cotton Fibers Private Limited CIN U01405AP2007PTC054727 NSL Tidong Power Generation Private Limited CIN U40108HP2008PTC030877 Prestige Cybercity (India) Private Limited CIN U24100AP2005PTC047540

CAPITAL STRUCTURE

After as on 30.09.2011

Authorised Capital : Rs. 1770.000 Millions

Paid-up Capital : Rs. 1031.063 Millions

As on 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
173000000	Equity Shares	Rs.10/- each	Rs.1730.000 millions
400000	Preference shares	Rs.100/-	Rs.40.000 millions
	Total		Rs.1770.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
101966338	Equity Shares	Rs.10/- each	Rs.1019.663 millions

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
173000000	Equity Shares	Rs.10/- each	Rs.1730.000 millions
400000	Preference shares	Rs.100/-	Rs.40.000 millions
	Total		Rs.1770.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
100422436	Equity Shares	Rs.10/- each	Rs.1004.224 millions

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		1004.224	868.398	373.362
2] Share Application Money		15.439	0.000	352.000
3] Reserves & Surplus		2557.308	1442.969	408.500
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		3576.971	2311.368	1133.862
LOAN FUNDS
1] Secured Loans		10164.950	4659.299	2951.247
2] Unsecured Loans		800.973	0.000	0.000
TOTAL BORROWING		10965.923	4659.299	2951.247
DEFERRED TAX LIABILITIES		55.316	20.638	32.462
TOTAL		14598.210	6991.304	4117.571
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		10416.969	5318.183	2804.515
Capital work-in-progress		391.429	668.375	623.599
INVESTMENT		0.227	673.118	0.106
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	2986.365	625.905	305.527
	Sundry Debtors	421.364	198.388	100.913
	Cash & Bank Balances	212.113	188.492	188.966
	Other Current Assets	749.069	283.275	5.028
	Loans & Advances	376.367	234.488	231.182
Total Current Assets		4745.278	1530.548	831.616
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	784.195	1094.985	138.613
	Other Current Liabilities	164.720	92.897	2.096
	Provisions	6.778	11.038	1.556
Total Current Liabilities		955.693	1198.920	142.265
Net Current Assets		3789.585	331.628	689.351
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		14598.210	6991.304	4117.571

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	5661.213	1973.769	913.392
		Other Income	315.907	132.320	11.520
		TOTAL (A)	5977.120	2106.089	924.912
Less	EXPENSES
		Consumption Material Changes	3224.162	1242.983
		Manufacturing service costs	736.284	288.516
		Employee related expenses	520.343	98.382
		Administrative Expenses	316.677	56.615
		Prior period adjustments	0.213	0.038
		TOTAL (B)	4797.679	1686.534	805.382
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1179.441	419.555	119.530
Less	FINANCIAL EXPENSES (D)		647.505	205.656	85.012
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		531.936	213.899	34.518
Less/ Add	DEPRECIATION/ AMORTISATION (F)		453.309	180.825	70.901
	PROFIT BEFORE TAX (E-F) (G)		78.627	33.074	(36.383)
Less	TAX (I)		(0.654)	(11.321)	(20.374)
Less	ADJUSTMENTS RELATED MERGER ACQUISITIONS		894.288	0.000	0.000
	PROFIT AFTER TAX (G-I) (J)		(815.007)	44.395	(16.009)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		69.672	25.277	41.286
	BALANCE CARRIED TO THE B/S		(745.335)	69.672	25.277
	Earnings Per Share (Rs.)		(8.59)	1.36	(0.47)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	(13.64)	2.11	(1.73)
Net Profit Margin (PBT/Sales)	(%)	1.39	1.68	(3.98)
Return on Total Assets (PBT/Total Assets}	(%)	0.52	0.48	(1.00)
Return on Investment (ROI) (PBT/Networth)		0.02	0.01	(0.03)
Debt Equity Ratio (Total Liability/Networth)		3.33	2.53	2.73
Current Ratio (Current Asset/Current Liability)		4.97	1.28	5.85

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

FINANCIAL RESULTS

The figures for current period are not comparable with those of previous period as NSL Textiles (Edlapadu) Limited and Prabhat Industrial Corporation Limited amalgamated with the Company during the current period.

The attached financial statements are prepared after giving effect to the amalgamations

REVIEW OF OPERATIONS

The Company has produced 1.69 lakh qtls. of cotton lint (PY 0.64 lakh qtls.), 2.26 lakh qtls. (PY 0.74 lakh qtls.) of cotton and dyed yarn, 308.21 lakh mtrs. (PY 64.18 lakh mtrs.) of fabric and 1.02 lakh pcs. of garments during the financial year 2010-11 and sold 1.43 lakh qtls. (PY 0.65 lakh qtls.) of cotton yarn, 257.55 lakh mtrs. (PY 64.15 mtrs.) of fabric and 0.98 lakh pcs of garments. The processing unit at Chandole and garmenting unit at Budampadu commenced full commercial operations during the year making the Company a fully integrated textile manufacturing conglomerate encompassing operations across the entire textile value chain. The capacity utilization in processing and garmenting divisions were, however, low during the year due to the teething troubles though the products found good acceptability in the market.

All these operations yielded a sales turnover of (net of excise) Rs.5661.213 Millions (PY Rs.2020.826 Millions) and a profit after tax and before extraordinary items of Rs.79.281 Millions (PY Rs.44.395 Millions). The above achievement was possible due to higher operating efficiencies in spinning division in particular and improvement in price realisations and change in the product mix with focus on value addition.

TEXTILE INDUSTRY IN INDIA

Indian Textile industry (domestic + exports) is expected to grow from current US$ 79 bn to US $221 bn by 2020,

a cumulative CAGR of 11% . Very strong domestic and export demand combined with consistent increase in the

demand are the key factors to lead this growth. The main drivers of domestic growth are increasing population, improved income levels, rapid urbanization, improving demographics, and higher penetration of retailers even in the smaller cities.

India has the potential of taking its export share of the world textiles and apparel market from current 4.6% to 8% to reach US $80 bn by 2020.

EXPANSION ACTIVITIES OF THE COMPANY

The Company is proposing to add further capacities in spinning, weaving and yarn dyeing and balancing equipment for improved value addition and to take advantage of the existing infrastructure. The Company has approached Banks for financial closure and Canara Bank has been given the mandate for appraisal and syndication of the new term loans for the proposed expansion, which is expected to be achieved by end October, 2011.

The Company entered the retail space with launch of its own readymade apparel brand CONSTELLO during the last quarter of 2010. CONSTELLO is a men s apparel brand targeted at middle income segment. So far 18 outlets have been opened across Andhra Pradesh with a plan for pan India presence.

AMALGAMATION

OTHER DEVELOPMENTS

During the year, processing, garmenting and retailing businesses were also integrated under SAP environment.

Efforts are being made to generate management support reports based on Business Objects fetching data from SAP.

This will greatly enhance and expedite management decision process. INTEX as a production planning and control tool is being implemented for weaving and processing departments, which is expected to improve production efficiency and cost control.

During the year, the Company made initial inroads in apparel exports and added prestigious clients like Zara and M and S to its customer list, directly and through garment exporters. Companys marketing and customer servicing capabilities will see the list expanding further in the coming years. Company is exploring avenues for business in China, for both selling and sourcing.

Being strong in cotton and yarn, it is in a position to export cotton and cotton yarn to China, a huge market of these products.

At the same time import of specialty yarn like bamboo and corduroy greige is possible at lower costs.

In future, the company may propose to have a presence in other countries including China.

CONTINGENT LIABILITIES

(Rs In millions)

Particulars	31.03.2011	31.03.2010
Guarantees outstanding	518.360	0.034
Custom and excise duty liability in case of non fulfillment of export obligation pertaining to EPCG Authorisations and Advance License for import of capital goods and raw material at concessional rate of customs duty and refund of excise duty on domestic purchase of capital goods	1344.021	806.232
Bills receivable discounted	20.562	0.000
Claims against the Company not acknowledged as debt	8.055	13.786

Claims against the company not acknowledged them debt include:

i. Rs.1.521 Millions demand from ESI authorities towards damages for the wage period June 2000 to October 2003 of which an amount of Rs.1.445 pertains to the period when the unit was under occupation of the previous employers:

The Company has contested the demand before the Employees Insurance Court and Chairman, Industrial Tribunal at Hyderabad and has obtained a stay order. An amount of Rs.0.380 Millions being 25% of the amount demanded, has been deposited with the ESI authorities and shown them Advances recoverable in cash or kind or for value to be received under the Schedule of Loan and Advances.

ii. Rs.0.099 Million demand from ESI authorities towards recovery of ESI dues pertaining to the period when the

Unit was under occupation of the previous employers:

The Company has contested the demand before the Employees Insurance Court and Chairman, Industrial Tribunal at Hyderabad and has obtained a stay order. An amount of Rs.0.033 Million has been deposited with the Court and Rs.0.136 Millions debited towards recovery proceeding. The aggregate amount has been shown them Advances recoverable in cash or kind or for value to be received under the Schedule of Loan and Advances.

iii. Rs.2.703 Millions demand from Provident Fund Authorities towards recovery of provident fund dues and liquidated damages pertaining to the period when the Unit belonging to NSL Textiles (Edlapadu) Limited (the First Transferor Company) was under occupation by the previous employers:

NSL Textiles (Edlapadu) Limited (the First Transferor Company) had contested the demand in a petition before the Hon’ble High Court of Andhra Pradesh and the Court has granted stay till further order. The Liquidator in the matter of The Chilakaluripet Cotton Growers Cooperative Spinning Mills Limited, the previous employer, has also filed an undertaking before the Hon’ble High Court to pay the Provident Fund dues.

iv. Rs.0.015 Millions paid to Eastern Power Distribution Company of A.P. Ltd. towards consolidated HT bill of the Power Plant at Uppalguptam for the period February to April 2009:

These charges were paid towards demand for electricity consumed during the period February to April 2009 at the Company’s Power Plant at Uppalguptam. The Company has contested this demand them the Company had made a net export of electricity to the grid, from its Power Plant, during that period. The amount was paid to the Eastern Power Distribution Company of A.P. Ltd. under protest and shown them Advances recoverable in cash or kind or for value to be received under the Schedule of Loan and Advances.

v. Rs.0.623 Million demand towards Non Agricultural Land Assessment Tax and Rs.2.537 Millions demand towards Water Royalty from Mandal Revenue Inspector, Inkollu Mandal, Prakasam District:

This demand pertains to dues for the period during which the Unit was under occupation by previous owners. Them the Unit was sold to the Company free of encumbrances, the Company has contested the demand in a writ petition before the Hon’ble High Court of Andhra Pradesh. An amount of Rs.1.600 Millions was deposited with the Tahsildar, Inkollu Mandal for obtaining interim injunction. The deposit has been shown them Advances recoverable in cash or kind or for value to be received under the Schedule of Loan and Advances.

vi. Rs.0.556 Million demand in the Company and Rs.0.124 Million demand in NSL Textiles (Edlapadu) Limited (the First Transferor Company) towards Fuel Surcharge Adjustment (FSA) from Southern Power Distribution Company of Andhra Pradesh Limited:

The Company has contested the claim of FSA charges in a writ petition filed before the Hon’ble High Court of Andhra Pradesh and the demand has been set aside by the High Court. An amount of Rs.0.243 Million was paid against this demand and has been shown them Advances recoverable in cash or kind or for value to be received under the Schedule of Loan and Advances.

The Company does not expect any reimbursements in respect of the above contingent liabilities.

It is not practicable to estimate the timing of the cash outflows, if any, in respect of matters pending appellate proceedings. In respect of other matters the cash outflows, if any, could generally occur in the next three years being the period over which validity of the guarantees / letters of credit extends.

The Management believes that the ultimate outcome of appellate proceedings will not have a material adverse effect on the Company's financial position and result of operations.

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U15429AP2002PLC038489
Name of the company	NSL TEXTILES LIMITED
Address of the registered office or of the principal place of business in India of the company	NSL ICON, Door No.8-2-684/2/A, Plot No.1 to 4, Road No.12, Banjara Hills, Hyderabad- 500034, Andhra Pradesh, India Email : jvilhyd@gmail.com
This form is for	Modification of charges
Charge identification (ID) number of the charge to be modified	10035650
Type of charge	Immovable Property Book Debts Movable Property
Particular of charge holder	State Bank of India, Specialised Commercial Branch, Kannavarithota, Gunthur-522004, Andhra Pradesh, India Email ID: sbi.13483@sbi.co.in
Nature of instrument creating charge	1)Supplemental working capital consortium agreement for increase in the overall limit dated 30.03.2011 2)Supplemental Joint deed of hypothecation for increase in the overall limit 3)Letter of authority to be given to the lead bank(SBI) 4)Interse Agreement 5)Revival Letter 6)Memorandum for recording extension of mortgage by deposit of title deeds covering enhanced limits(SME-7) dated 30.03.2011
Date of instrument Creating the charge	30.03.2011
Amount secured by the charge	Rs.7262.700 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Working Capital Limits: SBI-BR+5%; Canara Bank BR+4.25%; Andhra Bank-BR+4.25%; Central Bank of India-BR+4.10%; SBH-CC(Hyp)5.50%above; SBI BR(floating);SBM-CC(Hyp)4% above BR Terms of Repayment 12 MONTHS Margin STOCKS-25%; RECEIVABLES - 30%; PC-10% Extent and Operation of the charge Overall Working Capital limits of Rs.1592.000 Crores (enhanced from Rs.1071.700 crores) are secured by way of paripassu 1st charge on current assets of the company and paripassu 2nd charge on immovable properties on reciprocal basis with Term lenders. An additional Bill Discounting Limit of Rs.50.00 crores given by SBI (outside ABF) has residual charge on the assets of the company.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Particulars of property have been provided in the memorandum for recording extension of mortgage by deposit of title deeds for existing limits and enhanced limits
Date of instrument modifying the charge	30.10.2010
Particulars of the present modification	Overall Working Capital limits of Rs.1592.000 Crores (enhanced from Rs.1071.700 crores) are secured by way of paripassu 1st charge on current assets of the company and paripassu 2nd charge on immovable properties (as mentioned in Memorandum for recording extension of mortgage by deposit of title deeds dated 30.03.2011) on reciprocal basis with Term lenders. An additional Bill Discounting Limit of Rs.50.000 crores given by SBI (outside ABF) has residual charge on the assets of the company.

FIXED ASSETS

• Land
• Factory
• Building
• Non Factory
• Electrical Installation
• Plant and Machinery
• Furniture and Fixture
• Office and Other equipments
• Vehicles
• Computers

PRESS RELEASE:

NSL TEXTILES TO INAUGURATE STATE-OF-THE-ART TEXTILES PROCESS HOUSE

31-08-2010

NSL Textiles, part of Rs 15000.000 Millions NSL Group, has brought to light the inauguration of its State-of-the-Art textiles process house at Chandolu near Guntur district of Andhra Pradesh. The facility will be inaugurated by the Honorable Chief Minister of Andhra Pradesh Dr. K. Rosaiah on the 6th of September 2010. Honorable Minister of State for Textiles, Govt. of India, Smt. Panabaka Lakshmi and Ministers of Government of AP will attend the event.

he output of the plant is projected at 1,20,000 Meters per day initially, which is proposed to be doubled in the next two years. It also houses 100 looms for weaving dyed yarn. Investment to the tune of Rs.3000.000 Millions has already been made with further plan to invest about Rs.2500.000 Millions.

Speaking on the occasion, Mr. Mandava Prabhakar Rao, Chairman, NSL Group, said “Textile business is going to play a major role in realizing our goal for the Group. With our strength of “Cotton to Clothing”, we will offer customers the unique value proposition of full process control in the value chain. Keeping this in mind, we have made significant investments to the tune of Rs.11000.000 Millions in Ginning, Spinning, Weaving, Processing and Garmenting. With our Group’s traditional strength in Cotton seeds, cotton cultivation and cotton selection and the seasoned team, our textile business is poised to become a major Asian player in the industry.”

Mr. Myneni Giridhar, Vice Chairman, NSL Textiles, said, “We are aggressively pursuing our vision to become the best integrated textile company. With the present capacities in ginning, spinning and weaving, the first three steps of value chain; we are already a major player in textile industry. Process house and garment manufacturing are the next logical steps to complete the value chain. With our strength in cotton and the fully integrated operations, we will be best placed in the industry to serve our customers – both domestic and foreign. Our branded Apparel ‘Constello’ catering to the domestic market will be launched by Depavali -2010.”

The textile processing house at Chandolu is one of the largest in South India and equipped with State of the Art, unique Effluent Treatment Plant (ETP), which is capable of recycling as high as 90% of the water usage against highest of 80% in the industry.

Size of the Indian textiles industry is estimated around Rs.3000000.000 Millions and it provides employment to 3.5 crore people, second largest sector after agriculture. Textiles industry contributes four percent to national GDP and 13.5 per cent of exports earnings come from it.

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.55.97
UK Pound	1	Rs.89.02
Euro	1	Rs.70.39

INFORMATION DETAILS

Report Prepared by :

BSN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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		45

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.