MIRA INFORM REPORT

Report Date :

18.02.2013

IDENTIFICATION DETAILS

Name :	TAMILNADU TRANSMISSION CORPORATION LIMITED
Registered Office :	NPKRR Maligai, (TNEB Office), 144, Anna Salai, Chennai – 600 002, Tamilnadu
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	15.06.2009
Com. Reg. No.:	18-071948
Capital Investment / Paid-up Capital :	Rs.19275.478 millions
CIN No.: [Company Identification No.]	U40109TN2009SGC071948
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is operating in transmission of Power.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (54)

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

Status :	Good
Payment Behaviour :	Regular
Litigation :	Exists
Comments :	Subject is an electric power transmission system operator owned by Government of Tamilnadu. It is a subsidiary of ‘Tamilnadu Electricity Board’. It is an established and reputed company having a good track record. The latest financials of the company are not made available. As per previous year’s record, there appears huge external borrowing recorded by the company. There also appears huge accumulated loss which heavily exceeds the networth. However, it receives good operational and financial support from the Government of Tamilnadu. Trade relations are reported as decent. Business is active. Payment terms are regular and as per commitment. The company can be considered good 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	CARE
Rating	Bond Issue: A- (Structured Obligation)
Rating Explanation	Adequate degree of safety and low credit risk.
Date	October 15, 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 :	NPKRR Maligai, (TNEB Office), 144, Anna Salai, Chennai – 600 002, Tamilnadu, India
Tel. No.:	91-44-28521057
Fax No.:	Not Available
E-Mail :	ustantransco@tnebnet.org mdtantransco@tnebnet.org
Website :	http://www.tantransco.gov.in

DIRECTORS

As on 27.09.2012

Name :

Ramaiah Murugan

Designation :

Managing Director

Address :

3^rd Floor, (Southern Side Tenampet), Udangudi Power Corporation Limited Building, 144, Anna Salai, Chennai – 600 002, Tamilnadu, India

Date of Birth/Age :

10.09.1954

Date of Appointment :

25.06.2012

DIN No.:

02954898

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U40109TN2009SGC071948	TAMILNADU TRANSMISSION CORPORATION LIMITED	Managing director	25/06/2012	14/12/2009	-	Active	NO
2	U40109TN2009SGC073746	TAMILNADU GENERATION AND DISTRIBUTION CORPORATION LIMITED	Director	08/06/2010	08/06/2010	-	Active	NO
3	U67190TN2009SGC073753	TNEB LIMITED	Director	08/06/2010	08/06/2010	-	Active	NO

Name :

Sivagurunathan Sekkizhar

Designation :

Director

Address :

No.11, Viswanathapuram Main Road, Kodambakkam, Chennai – 600 024, Tamilnadu, India

Date of Birth/Age :

03.02.1958

Date of Appointment :

25.06.2012

DIN No.:

02835524

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U40108DL2003PLC120487	NTPC TAMIL NADU ENERGY COMPANY LIMITED	Director	23/08/2010	16/11/2009	-	Active	NO
2	U40109TN2009SGC071948	TAMILNADU TRANSMISSION CORPORATION LIMITED	Director	25/06/2012	11/12/2009	-	Active	NO
3	U10200OR2009SGC010604	MANDAKINI-B COAL CORPORATION LIMITED	Additional director	23/12/2009	23/12/2009	-	Active	NO

Name :

Sundaram Akshaya Kumar

Designation :

Director

Address :

Flat No.17, Rajendran Colony, Saligraman, Chennai – 600 093, Tamilnadu, India

Date of Birth/Age :

24.05.1956

Date of Appointment :

07.12.2010

DIN No.:

02954947

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U40109TN2009SGC071948	TAMILNADU TRANSMISSION CORPORATION LIMITED	Director	07/12/2010	14/12/2009	-	Active	NO

Name :

Krishnasamy Viswanathan

Designation :

Director

Address :

8^th Floor, 144/800, Anna Salai Chennai – 600 002, Tamilnadu, India

Date of Birth/Age :

15.04.1956

Date of Appointment :

25.06.2012

DIN No.:

05148630

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U40109TN2009SGC071948	TAMILNADU TRANSMISSION CORPORATION LIMITED	Director	25/06/2012	07/09/2011	-	Active	NO

Name :

Thangaraj Jayaseelan

Designation :

Director

Address :

Flat No.S1, 2^nd Floor, Sankara Flats, #75/33, Sait Colony, 2^nd Stret, Egmore, Chennai, Tamilnadu, India

Date of Birth/Age :

10.12.1955

Date of Appointment :

23.02.2011

DIN No.:

03491591

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U40109TN2009SGC073746	TAMILNADU GENERATION AND DISTRIBUTION CORPORATION LIMITED	Director	23/02/2011	23/02/2011	-	Active	NO
2	U40109TN2009SGC071948	TAMILNADU TRANSMISSION CORPORATION LIMITED	Director	23/02/2011	23/02/2011	-	Active	NO
3	U67190TN2009SGC073753	TNEB LIMITED	Director	23/02/2011	23/02/2011	-	Active	NO
4	U74999TN1971SGC005967	STATE INDUSTRIES PROMOTION CORPORATION OF TAMILNADU LIMITED	Director	24/03/2011	24/03/2011	-	Active	NO
5	U40102TN2005GOI058050	NLC TAMIL NADU POWER LIMITED	Director	12/09/2011	05/08/2011	-	Active	NO
6	U40100TN2008PLC070300	UDANGUDI POWER CORPORATION LIMITED	Nominee director	16/08/2011	16/08/2011	-	Active	NO
7	U40108DL2003PLC120487	NTPC TAMIL NADU ENERGY COMPANY LIMITED	Director	22/09/2011	22/09/2011	-	Active	NO

Name :

Natarajan Sankar

Designation :

Director

Address :

Flat 2, Old 175, New 204, Choolaimedu High Road, Choolaimedu, Chennai – 600 094, Tamilnadu, India

Date of Birth/Age :

02.06.1956

Date of Appointment :

02.07.2012

DIN No.:

05332025

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U40109TN2009SGC073746	TAMILNADU GENERATION AND DISTRIBUTION CORPORATION LIMITED	Director	02/07/2012	02/07/2012	-	Active	NO
2	U67190TN2009SGC073753	TNEB LIMITED	Director	02/07/2012	02/07/2012	-	Active	NO
3	U40109TN2009SGC071948	TAMILNADU TRANSMISSION CORPORATION LIMITED	Director	02/07/2012	02/07/2012	-	Active	NO
4	U40200TN1976SGC007081	TAMILNADU CEMENTS CORPORATION LIMITED	Director	20/09/2012	20/09/2012	-	Active	NO
5	U28112TN1956SGC003447	SOUTHERN STRUCTURALS LIMITED	Director	27/09/2012	27/09/2012	-	Active	NO

Name :

Kandasamy Shanmugam

Designation :

Nominee Director

Address :

H/59B, Rajarajan Street, Kalakshetra Colony, Besant Nagar, Chennai – 600 050, Tamilnadu, India

Date of Birth/Age :

07.07.1960

Date of Appointment :

25.06.2012

DIN No.:

00794191

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U15137TN1972SGC006157	TAMILNADU CIVIL SUPPLIES CORPORATION	Director	03/11/2007	01/02/2005	25/05/2010	Active	NO
2	U60100TN2007SGC065596	CHENNAI METRO RAIL LIMITED	Nominee director	18/05/2010	18/05/2010	-	Active	NO
3	U40109TN2009SGC073746	TAMILNADU GENERATION AND DISTRIBUTION CORPORATION LIMITED	Director	19/05/2010	19/05/2010	-	Active	NO
4	U67190TN2009SGC073753	TNEB LIMITED	Director	19/05/2010	19/05/2010	-	Active	NO
5	U40109TN2009SGC071948	TAMILNADU TRANSMISSION CORPORATION LIMITED	Nominee director	25/06/2012	19/05/2010	-	Active	NO
6	U93090TN1983SGC010048	TAMILNADU STATE MARKETING CORPORATION LIMITED	Director	22/05/2010	22/05/2010	-	Active	NO
7	U65993TN1965SGC005327	TAMILNADU INDUSTRIAL DEVELOPMENT CORPORATION LIMITED	Nominee director	09/06/2010	09/06/2010	-	Active	NO
8	U41000TN2008NPL069700	ADYAR POONGA	Director	03/11/2010	11/06/2010	-	Active	NO
9	U65991TN1996PLC036866	TAMILNADU URBAN INFRASTRUCTURE TRUSTEE COMPANY LIMITED	Director	29/09/2010	28/06/2010	-	Active	NO
10	U74999TN1971SGC005967	STATE INDUSTRIES PROMOTION CORPORATION OF TAMILNADU LIMITED	Director	07/09/2011	07/09/2011	-	Active	NO
11	U74999TN1997PLC039523	TIDEL PARK LIMITED	Nominee director	13/09/2011	13/09/2011	20/12/2012	Active	NO
12	U45209TN2007PLC064060	TIDEL PARK COIMBATORE LIMITED	Director	14/09/2011	14/09/2011	20/12/2012	Active	NO

Name :

Kumaraswamy Gnanadesikan

Designation :

Director

Address :

Plot No.1190, Anna Nagar, West End Colony, Mogapair, Chennai – 600 050, Tamilnadu, India

Date of Birth/Age :

16.04.1959

Date of Appointment :

28.09.2012

DIN No.:

00111798

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U65993TN1965SGC005327	TAMILNADU INDUSTRIAL DEVELOPMENT CORPORATION LIMITED	Nominee director	18/10/2012	04/05/2005	-	Active	NO
2	L11101TN1969PLC005778	SOUTHERN PETROCHEMICAL INDUSTRIES CORPORATION LIMITED	Nominee director	27/06/2005	27/06/2005	30/04/2007	Active	NO
3	U93090TN1983SGC010048	TAMILNADU STATE MARKETING CORPORATION LIMITED	Director	31/05/2010	30/06/2005	25/05/2011	Active	NO
4	U65191TN1990SGC018909	TAMILNADU URBAN FINANCE AND INFRASTRUCTURE DEVELOPMENT CORPORATION LIMITED	Director	23/01/2007	23/01/2007	29/12/2008	Active	NO
5	U67190TN1996PLC036865	TAMILNADU URBAN INFRASTRUCTURE FINANCIAL SERVICES LIMITED	Director	24/09/2007	20/03/2007	19/09/2008	Active	NO
6	U65991TN1996PLC036866	TAMILNADU URBAN INFRASTRUCTURE TRUSTEE COMPANY LIMITED	Director	26/09/2007	22/03/2007	28/06/2010	Active	NO
7	U64204TN2007SGC064958	TAMILNADU ARASU CABLE T.V. CORPORATION LIMITED	Director	29/10/2012	04/10/2007	-	Active	NO
8	U60100TN2007SGC065596	CHENNAI METRO RAIL LIMITED	Director	12/08/2010	03/12/2007	20/07/2011	Active	NO
9	U41000TN2008NPL069700	ADYAR POONGA	Director	30/10/2008	30/10/2008	11/06/2010	Active	NO
10	U40109TN2009SGC071948	TAMILNADU TRANSMISSION CORPORATION LIMITED	Director	28/09/2012	15/06/2009	-	Active	NO
11	U40109TN2009SGC073746	TAMILNADU GENERATION AND DISTRIBUTION CORPORATION LIMITED	Managing director	01/10/2012	01/12/2009	-	Active	NO
12	U67190TN2009SGC073753	TNEB LIMITED	Managing director	01/10/2012	01/12/2009	-	Active	NO
13	U74999TN1922NPL001455	MADRAS RACE CLUB	Nominee director	13/07/2012	18/05/2010	28/09/2012	Active	NO
14	U63040TN1971SGC006006	TAMILNADU TOURISM DEVELOPMENT CORPORATION LIMITED	Director	31/07/2012	31/07/2012	-	Active	NO
15	U40100TN2008PLC070300	UDANGUDI POWER CORPORATION LIMITED	Nominee director	01/10/2012	01/10/2012	-	Active	NO
16	U65191TN1991SGC021030	TAMILNADU POWER FINANCE AND INFRASTRUCTURE DEVELOPMENT CORPORATION LIMITED	Nominee director	17/10/2012	17/10/2012	-	Active	NO
17	U63090TN1974PLC006596	POOMPUHAR SHIPPING CORPN LIMITED	Director	25/10/2012	25/10/2012	-	Active	NO
18	U40108DL2003PLC120487	NTPC TAMIL NADU ENERGY COMPANY LIMITED	Nominee director	14/12/2012	14/12/2012	-	Active	NO

KEY EXECUTIVES

Name :	Dr. K. Muthupandian
Designation :	Secretary
Address :	Old No.11, New No.2, Dayalu Nagar Main Road, Kodambakkam, Chennai – 600 024, Tamilnadu, India
Date of Birth/Age :	12.04.1968
Date of Appointment :	11.11.2009
PAN No.:	AJBPM1479R

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 27.09.2012

Names of Shareholders	No. of Shares
Government of Tamilnadu, India	49940
Rajeev Rajan	10
Natrajan Sankar	10
Krishnasamy Viswanathan	10
Sundaram Askhaya Kumar	10
Ramaiah Murugan	10
Sivagurunathan Sekkizhar	10
TNEB Limited, India	2333956602
Total	2334006602

As on 27.09.2012

Equity Share Breakup	Percentage of Holding
Category
Government [Central and State]	0.01
Government companies	99.99
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is operating in transmission of Power.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Not Available

Facilities :

Secured Loans	31.03.2011 (Rs. in Millions)	31.03.2010 (Rs. in Millions)
Public Loan TNEB Bonds	16357.163	0.000
Loan from Life Insurance Corporation	4721.669	0.000
Loan from Rural Elecn. Corporation	18645.990	0.000
Power Finance Corporation	11558.165	0.000
Loan Tamilnadu POWERFIN	28882.721	0.000
Medium Term Loan	38648.926	0.000
HUDCO	5715.247	0.000
Total	124529.881	0.000

Banking Relations :	--
Financial Institution :	Power Finance Corporation Limited, 'Urjanidhi', 1, Barakhamba Lane, Connaught Place, New Delhi – 110 001, India
Auditors :
Name :	Venkatesh and Company Chartered Accountants
Address :	Sri Ranga, No.151, Mambalam High Road, T. Nagar, Chennai – 600 017, Tamilnadu, India
Income-tax PAN of auditor or auditor's firm :	AAAFV0620K
Holding Company :	TNEB Limited CIN No.: U67190TN2009SGC073753
Subsidiary of TNEB Limited :	Tamilnadu Generation and Distribution Corporation Limited (TANGEDCO)

CAPITAL STRUCTURE

As on 27.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000000	Equity Shares	Rs.10/- each	Rs.50000.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2334006602	Equity Shares	Rs.10/- each	Rs.23340.066 millions

As on 31.03.2011

Authorised Capital : Not Available

Issued, Subscribed & Paid-up Capital : Rs.19275.478 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		19275.478	0.500
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		2424.675	0.000
4] (Accumulated Losses)		(40318.546)	(0.381)
NETWORTH		(18618.393)	0.119
LOAN FUNDS
1] Secured Loans		124529.881	0.000
2] Unsecured Loans		0.000	0.000
TOTAL BORROWING		124529.881	0.000
DEFERRED TAX LIABILITIES		0.000	0.000
Other Funds (Contributions, Grants and Subsidies towards cost of Capital Assets)		1.870	0.000
TOTAL		105913.358	0.119
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		87775.403	0.000
Capital work-in-progress		19485.352	0.000
INVESTMENT		0.000	0.000
DEFERRED TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	4637.803	0.000
	Sundry Debtors	11558.565	363.873
	Cash & Bank Balances	174.887	54.538
	Other Current Assets	5491.379	0.000
	Loans & Advances	82.964	0.000
Total Current Assets		21945.598	418.411
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors & Other Current Liabilities	23292.995	418.292
	Provisions
Total Current Liabilities		23292.995	418.292
Net Current Assets		(1347.397)	0.119
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		105913.358	0.119

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010
	SALES
		Revenue from transmission of Power	5243.270	0.000
		Other Income	100.575	0.000
		TOTAL (A)	5343.845	0.000
Less	EXPENSES
		Repairs and Maintenance	36.398	0.000
		Employee Cost	1479.061	0.000
		Administrative and General Expenses	80.109	0.381
		Other Expenses	3.634	0.000
		Expenses capitalised	(393.700)	0.000
		TOTAL (B)	1205.502	0.381
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		4138.343	(0.381)
Less	INTEREST & OTHER BANKS CHARGES (D)		2926.019	0.000
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1212.324	(0.381)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		1212.324	0.000
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		0.000	(0.381)
Less	TAX (H)		0.000	0.000
	PROFIT AFTER TAX (G-H) (I)		0.000	(0.381)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(0.381)	0.000
	BALANCE CARRIED TO THE B/S		(0.381)	(0.381)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010
PAT / Total Income	(%)	0.00	0.00
Net Profit Margin (PBT/Sales)	(%)	0.00	0.00
Return on Total Assets (PBT/Total Assets}	(%)	0.00	(0.09)
Return on Investment (ROI) (PBT/Networth)		0.00	(3.20)
Debt Equity Ratio (Total Debt/Networth)		(6.69)	0.00
Current Ratio (Current Asset/Current Liability)		0.94	1.00

LOCAL AGENCY FURTHER INFORMATION

LITIGATION DETAILS

CHENNAI COURT

CASE STATUS INFORMATION SYSTEM

Case Status:	Pending
Status of:	EXECUTION PETITION
Case No.:	153
Year:	2012
Petitioner:	LUMINO INDUSTRIES LIMITED
Respondent:	TAMILNADU TRANSMISSION CORPORATION LIMITED
Pet’s Advocate:	MR. P. GIRIDHARAN
Res’s Advocate:	V. VISWANATHAN
Category:	NO CATEGORY MENTIONED Last Listed on: No Date Mentioned
Case Updated on:	February 5, 2013

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 two years	Yes
12) Profitability for last two 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	Yes
23) Banking Details	No
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	No
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

Bankers Charges Report as per Registry

Corporate identity number of the company	U40109TN2009SGC071948
Name of the company	TAMILNADU TRANSMISSION CORPORATION LIMITED
Address of the registered office or of the principal place of business in India of the company	NPKRR Maligai, (TNEB Office), 144, Anna Salai, Chennai – 600 002, Tamilnadu, India E-Mail: ustantransco@tnebnet.org
This form is for	Creation of charge
Type of charge	Movable Property (not being pledge)
Particular of charge holder	CIN No.: L65910DL1986GOI024862 Power Finance Corporation Limited, 'Urjanidhi', 1, Barakhamba Lane, Connaught Place, New Delhi – 110 001, India E-Mail: thangadurai.babu@yahoo.com
Nature of description of the instrument creating or modifying the charge	Deed of Hypothecation
Date of instrument Creating the charge	14.12.2012
Amount secured by the charge	Rs.169.400 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest: 12.75% p.a. Terms of Repayment: 60 monthly installments Margin: 1:1 times Extent and Operation of the charge: The principal loan amount including Interest, penal Interest if any are secured by the movable Property of the company on First Charge basis situated at various districts of the state as of this form are Hypothecated for the Loan No.36203004
Short particulars of the property charged	The whole of the movable properties valuing 1.1 times of the loan amount of the Borrower's Upgradation of existing 33/11 KV substation into 110/33-11 kv substation at Bargur in Dharmkapuri EDC and associated transmission lines in Tamil Nadu, including but not limited to, One no. Power transformer of 110/33 kv, 16 MVA ar Bargur 110/33-11 kv, Substation along with associated equipments, Two no. power transformer of 110/33 kv, 10 MVA at Bargur 110/33-11 kv substation along with associated equipments 33 kv link line with ACSR Dog conductor for Jagadevi and Orappam 33 kv feeder to a route length of 0.3 km, 11 kv line with ACSR Racoon conductor for 1.44, 012 and 0.06 km oin Oppathavadi, Gudiyalnatham and Bargur feeder, 11 kv line with ACSR Weasels conductor for 1.5 km in Kandhikuppam feeder, 11 kv line with ACSR Rabbit conductor for 0.5 and 0.16 km for Gudiyalnatham 7 Oppathavadi feeder, 11 kv line with ACSR Weasels into ACSR Racoon conductor for 0.583, 0.557 and 3.057 km in Oppathavadi, kandhikuppam and Karakuppam feeder, 11kv line with ACSR Weasels into ACSR Racoon conductor for 8.645, 4.518, 3.320, 1.118 and 4.631 km for Gudiyalnatham and Oppathavadi, Kandhikuppam, Karakuppam and Bargur 11 kv feeders, 11kv line from ACSR rabbit into ACSR Racoon Conductor for 2.917 km in Bargur 11 kv feeders, 110 kv bay provision at Karimangalam 230/110 kv S/S. Situated in the State of Tamil Nadu consisting its movable plant and machinery, machinery spares, tools and accessories and other various equipment etc and other movables, both present and future, whether installed or not and whether now lying loose or in cases or which are not lying or stored in or about or shall hereafter from time to time during the continuance of the security of these presents be brought into or upon or be stored or be in or about the borrower's factories, premises and godowns situated at the project site of substation and associated works in Bargur in Dharmapuri.

FIXED ASSETS:

· Land and Land Rights

· Buildings

· Hydraulic Works

· Other Civil Works

· Lines and Cables Network

· Vehicles

· Furniture and Fixtures

· Office Equipment

WEBSITE DETAILS:

CORPORATE PROFILE

The Tamilnadu Electricity Board was restructured as per G.O.114 dated 08-10-2008 by establishing a holding company with the name " TNEB Limited " and  two subsidiary  companies namely "  Tamilnadu Transmission Corporation Limited  " (TANTRANSCO)  and " Tamilnadu Generation and Distribution Corporation Limited" (TANGEDCO) as per the mandatory requirements of the Electricity Act 2003. 

Accordingly, the subject, was registered as approved by the Government vide G.O.38 dated 21-05-2009 under the Companies Act, 1956 and was incorporated on 15-06-2009. 

Subject became a company wholly owned by the Government of Tamilnadu and started functioning from 14-12-2009. By the Transfer Scheme vide G.O.(Ms).No.100 Dated:19.10.2010, all related Assets and Liabilities are transferred to and re-vested by the State Government in the “Subject”  on and from 01-11-2010. 

NEWS:

FALL IN WIND ENERGY MAY FUEL POWER CUTS

TamilNadu, Updated October 10, 2012

A steep fall in wind energy generation - by a whopping 3,651 MW - in addition to outages and maintenance work at several power generation stations has left the Tamil Nadu Electricity Generation and Distribution Corporation Limited (TANGEDCO) in a precarious situation.

According to TANGEDCO and the Tamilnadu Transmission Corporation Limited (TANTRANSCO) statistics, wind energy generation stood at a mere 49 MW on Monday morning, as against the 3,700 MW peak production last month.

This would translate into increasing power cuts as the State faces an overall shortfall of around 5,000 MW.

“The wind energy generation season has ended on September 30. From October to March, the wind generation may not be considered as reliable power. This season, wind mills generated only around 15 millions units of energy, down from the 72 million units the previous month,” a power expert said.

Similarly, one unit of the Ramagundam Thermal Power Station in Andhra Pradhesh, belonging to the National Thermal Power Corporation (NTPC), was not generating power as the plant was undergoing annual maintenance.

TANGEDCO was entitled to 500 MW as the Central share from the TPS in AP.

Officials explained that two units of the Neyveli Lignite Thermal Power station also faced an outage owing to the annual maintenance.

“We have been getting only 1,900 MW to 2,400 MW from the Central share against the allocation of 2,956 MW. Hence we could not manage the power crisis,” an official said.

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 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.53.99
UK Pound	1	Rs.83.72
Euro	1	Rs.72.09

INFORMATION DETAILS

Report Prepared by :

SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	8
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	8
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	7
--RESERVES	1~10	6
--CREDIT LINES	1~10	7
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--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		54

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.