MIRA INFORM REPORT

Report Date :

09.01.2013

IDENTIFICATION DETAILS

Name :	RELIANCE CEMENT COMPANY PRIVATE LIMITED (w.e.f. 08.08.2011)
Formerly Known As :	RELIANCE CEMENTATION PRIVATE LIMITED
Registered Office :	H Block, 1^st Floor, Dhirubhai Ambani Knowledge City, Navi Mumbai – 400 710, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	24.08.2007
Com. Reg. No.:	11-173458
Capital Investment / Paid-up Capital :	Rs.386.240 millions
CIN No.: [Company Identification No.]	U26940MH2007PTC173458
TAN No.: [Tax Deduction & Collection Account No.]	MUMR23337G
PAN No.: [Permanent Account No.]	AADCR6967R
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Cement.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (34)

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

Maximum Credit Limit :	USD 7490000
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is a subsidiary of Reliance Infrastructure Limited. It is an established company having a moderate track record. The latest financials are not made available with the Government Department. As per previous year’s, the company seems to be good. Subject gets good financial support from its group companies. Trade relations are reported to be fair. Business is active. Payment terms are unknown. In view of strong holding, the company can be considered for business dealings with some caution.

NOTES :

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

ECGC Country Risk Classification List – 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	BBB (Long Term Bank Facilities)
Rating Explanation	Having moderate degree of safety regarding timely servicing of financial obligations it carry moderate credit risk.
Date	July, 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 :	H Block, 1^st Floor, Dhirubhai Ambani Knowledge City, Navi Mumbai – 400 710, Maharashtra, India
Tel. No.:	C
Fax No.:	91-22-30376622/ 30386178
E-Mail :	priti.padte@relianceada.com rinfra.mcafiling@relianceada.com
Website :	http://www.rinfra.com
Corporate Office :	E-Block, 3W 44, First Floor, Dhirubhai Ambani Knowledge City, Koparkhairane, Thane Belapur Road, Navi Mumbai – 400 710, Maharashtra, India
Tel. No.:	91-22-30383333
Factory :	Located at: v Maihar, Madhya Pradesh v Mukutban, Maharashtra

DIRECTORS

As on 02.08.2012

Name :

Mr. Amit Kamalkishore Jain

Designation :

Director

Address :

Flat No.402, Plot No.12/21, Sanskruti Apartments, Mata Vaishno CHS, Sec 42, Nerul (West), Navi Mumbai – 400 706, Maharashtra, India

Date of Birth/Age :

30.07.1979

Date of Appointment :

02.08.2012

DIN No.:

03569422

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	U26943MH2008PTC217839	RELIANCE CEMENT WORKS PRIVATE LIMITED	Director	26/09/2011	11/07/2011	-	Active	NO
2	U26940MH2007PTC173458	RELIANCE CEMENT COMPANY PRIVATE LIMITED	Director	02/08/2012	30/04/2012	-	Active	NO

Name :

Mr. Bimal Santoshkumar Roy

Designation :

Director

Address :

B1-802, Lakhanis Suncoast, Plot No.27, Sector-15, CBD Belapur, Navi Mumbai - 400 614, Maharashtra, India

Date of Birth/Age :

03.10.1959

Date of Appointment :

02.08.2012

DIN No.:

05129472

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	U26940MH2007PTC173458	RELIANCE CEMENT COMPANY PRIVATE LIMITED	Director	02/08/2012	28/11/2011	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Rajive K. Bansal
Designation :	Manager and Secretary
Address :	A-1/146, Safdarjung Enclave, New Delhi – 110 029, India
Date of Birth/Age :	11.10.1962
Date of Appointment :	01.09.2009
PAN No.:	ACSPB6237G
Name :	Mr. Bimal Roy
Designation :	Senior Vice President
Name :	Mr. Shyam Asawa
Designation :	Director (Projects)
Name :	Dr. A.K. Singh
Designation :	Vice President
Name :	Mr. V.V. Subrahmanyam
Designation :	Vice President
Name :	Mr. Arvind Pathak
Designation :	Senior Executive Vice President
Name :	Mr. Harendra Patel
Designation :	Senior Vice President
Name :	Mr. U.R. Raju
Designation :	Senior Vice President
Name :	Mr. Santosh Tejwani
Designation :	Senior Vice President
Employees employed for the part of the financial year 2010-11 :
Name :	Mr. Sumit Banerjee
Designation :	Chief Executive Officer
Name :	Mr. Ravindra Mohan
Designation :	President

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 02.08.2012

Names of Shareholders	No. of Shares
Reliance Infrastructure Limited, India	68322900
Ramesh Ganpati Shenoy jointly with Reliance Infrastructure Limited, India	100
Total	68323000

As on 02.08.2012

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Cement.

GENERAL INFORMATION

No. of Employees :	Not Available
Bankers :	ICICI Bank Limited

Banking Relations :	--
Financial Institution :	IDBI Trusteeship Services Limited, Asian Building, Ground Floor, 17, R. Kamani Marg, Ballard Estate, Mumbai – 400 001, Maharashtra, India
Auditors :
Name :	Bhandari Dastur Gupta and Associates Chartered Accountants
Address :	210, 2^nd Floor Ashoka Shopping Centre, G.T. Hospital Complex, L.T. Road, Mumbai, Maharashtra, India
Income-tax PAN of auditor or auditor's firm :	AADFB3359C
Holding Company :	Reliance Infrastructure Limited, India (REL) (w.e.f. 05.09.2009) CIN No.: L99999MH1929PLC001530
Subsidiaries :	v Reliance Cement Corporation Private Limited, India (RCCPL) [CIN No.: U26940MH2008PTC217838] v Reliance Cement and Infra Private Limited, India (RCIPL) [CIN No.: U45201MH2008PTC217836] v Reliance Cement Works Private Limited, India (RCWPL) [CIN No.: U26943MH2008PTC217839] v Reliance Cement Private Limited, India (RCPL) (w.e.f. March 18, 2011) [CIN No.: U26941DL1994PTC063893]

CAPITAL STRUCTURE

As on 02.08.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
100000000	Equity Shares	Rs.10/- each	Rs.1000.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
68323000	Equity Shares	Rs.10/- each	Rs.683.230 millions

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
50000000	Equity Shares	Rs.10/- each	Rs.500.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
38624000	Equity Shares (Equity Shares held by Reliance Infrastructure Limited the holding company)	Rs.10/- each	Rs.386.240 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		386.240	221.100	0.100
2] Share Application Money Pending Allotment		0.000	301.500	0.000
3] Reserves & Surplus		1486.260	0.000	0.000
4] (Accumulated Losses)		(0.044)	(0.030)	(0.008)
NETWORTH		1872.456	522.570	0.092
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.000	188.400
TOTAL BORROWING		0.000	0.000	188.400
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		1872.456	522.570	188.492
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1043.784	278.878	9.749
Capital work-in-progress		814.949	229.043	177.214
INVESTMENT		0.400	0.300	0.400
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	0.000	0.000	0.000
	Cash & Bank Balances	54.488	20.173	0.471
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	33.366	6.130	1.548
Total Current Assets		87.854	26.303	2.019
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	47.051	0.087	0.099
	Other Current Liabilities	19.883	9.008	0.576
	Provisions	7.597	2.859	0.215
Total Current Liabilities		74.531	11.954	0.890
Net Current Assets		13.323	14.349	1.129
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		1872.456	522.570	188.492

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	0.015	0.000	0.000
		Income on Fixed Deposit		0.001	0.000
		TOTAL	0.015	0.001	0.000
Less	TOTAL EXPENSES		0.025	0.000	0.008
	PROFIT / (LOSS) BEFORE TAX		(0.010)	0.001	(0.008)
Less	TAX		0.005	0.000	0.000
	PROFIT / (LOSS) AFTER TAX		(0.015)	0.001	(0.008)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(0.030)	(0.008)	0.000
Add	BALANCE OF LOSS TRANSFERRED ON AMALGAMATION		0.000	(0.023)	0.000
	BALANCE CARRIED TO THE B/S		(0.045)	(0.030)	(0.008)
	Earnings / (Loss) Per Share (Rs.)		0.00	0.00	(0.76)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	(100.00)	100.00	0.00
Net Profit Margin (PBT/Sales)	(%)	NA	0.00	0.00
Return on Total Assets (PBT/Total Assets}	(%)	0.00	0.00	(0.07)
Return on Investment (ROI) (PBT/Networth)		0.00	0.00	(0.09)
Debt Equity Ratio (Total Liability/Networth)		0.04	0.02	2057.50
Current Ratio (Current Asset/Current Liability)		1.18	2.20	2.27

LOCAL AGENCY FURTHER INFORMATION

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	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

Financial Highlights

Since the Company is setting up cement plants in Maharashtra and Madhya Pradesh and has also just commenced prospecting activities at a few locations, the entire expenses are accounted as pre-operative expenses. At the end of this financial year, the cumulative pre-operative expenses were Rs.814.949 millions (previous year Rs.229.043 millions), which shall be duly amortised after commencement of the project.

Operations

The Company has achieved certain milestones towards setting up two plants, one in Madhya Pradesh and the other in Maharashtra.

In line with its vision to set up cement plants across India, it has applied for various Mining Leases (ML) / Prospecting Licences (PL) in the various states across India.

Following milestones were achieved at the project site for the first two plants:

Madhya Pradesh

Land Acquisition in mines area and plant area is approaching completion

Environmental Clearance granted by Ministry of Environment and Forest (MoEF)

Mining Lease has been executed for a considerable portion of the Limestone Resources

Letter of Intents have been issued for remaining majority of the area and the Mining Plans have also been submitted for statutory approval Consent to Establish (CTE) granted by State Pollution Control Board

Maharashtra

Majority of the required Plant and Mine Land has been acquired

Applications for Mining Lease for a considerable portion of the Limestone Resources are at advanced stage of approval Environment Clearance Approved by Ministry of Environment and Forest (MoEF)

Increase in Authorised Share Capital

During the year, the authorized Share Capital of the Company was increased from Rs.250.000 millions divided into 25000000 Equity Shares of Rs.10 each to Rs.500.000 millions divided into 50000000 Equity Shares of Rs.10 each, in order to raise adequate funds for financing the Company’s projects and for general and corporate purposes.

Issue and allotment of equity shares

During the year, the Company issued and allotted 16514000 Equity Shares of Rs.10 each of the Company, for cash at a premium of Rs.90 per share, aggregating Rs.1651.400 millions to Reliance Infrastructure Limited, the holding company.

Accordingly, during the year, the paid up capital of the Company increased from Rs.221.100 millions to Rs.386.200 millions.

Holding company and Subsidiary companies

The Company is a wholly owned subsidiary of Reliance Infrastructure Limited.

During the year, the Company promoted and incorporated Reliance Concrete Private Limited (previously known as Reliance Cement Private Limited) as its wholly owned subsidiary. Reliance Concrete Private Limited, accordingly, became a subsidiary of the Company with effect from

March 18, 2011.

As of March 31, 2011, the Company had four wholly owned subsidiary companies viz., Reliance Cement Works Private Limited, Reliance Cement and Infra Private Limited, Reliance Cement Corporation Private Limited and Reliance Concrete Private Limited.

AMALGAMATION

During the year, the Scheme of Amalgamation of the Company and its wholly owned subsidiary, Reliance Cement Resources Private Limited, was approved by the Hon’ble High Court of Judicature at Bombay by an order dated June 12, 2009. The said Scheme became effective from July 14, 2009.

Bankers Charges Report as per Registry

Corporate identity number of the company	U26940MH2007PTC173458
Name of the company	RELIANCE CEMENT COMPANY PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	H Block, 1^st Floor, Dhirubhai Ambani Knowledge City, Navi Mumbai – 400 710, Maharashtra, India E-Mail: rinfra.mcafiling@relianceada.com
This form is for	Modification of charge
Charge identification number of the modified	10363024
Type of charge	Immovable property Any interest in immovable property Movable Property (not being pledge) Floating Charge Others
Particular of charge holder	CIN No.: U65991MH2001GOI131154 IDBI Trusteeship Services Limited, Asian Building, Ground Floor, 17, R. Kamani Marg, Ballard Estate, Mumbai – 400 001, Maharashtra, India E-Mail: itsl@idbitrustee.co.in
Nature of description of the instrument creating or modifying the charge	In addition to the existing charge created by Indenture of mortgage dated 18 May, 2012, first pari passu charge created on July 12, 2012 by mortgage, additional charge created on October 5, 2012 by deposit of title deeds at Bhopal over land admeasuring 442.476 acres and in favor IDBI Trusteeship Services Limited (security trustee for and on behalf of lenders) to secure the debt of Rs.18350.000 millions. No document was executed.
Date of instrument Creating the charge	05.10.2012
Amount secured by the charge	Rs.18350.000 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Terms of Repayment: The debt will be repaid by the borrower to each of the Lenders in twenty eight (28) equal quarterly installments commencing from the first day of the month following the expiry of fifteen (15) months from the commercial operation date in accordance with the Amortization Schedule. Margin: The total cost of the project with an aggregate capacity of 5.08 mtpa comprising an integrated unit of 2.28 mtpa and a 60 MW CPP at Maihar, a grinding unit of 2 mtpa at Kundangunj and blending unit of 0.8 mtpa at Gondvali is Rs.28730.000 millions funded at a Debt Equity ratio of 65.94: 34.06; with Debt of Rs.18350.000 millions and Equity Rs.9480.000 millions. Extent and Operation of the charge: In addition to the existing charge created by Indenture of mortgage dated 18 May, 2012, 1^st pari passu charge created on July 12, 2012 by mortgage, additional charge created on October 5, 2012 by mortgage by deposit of title deeds at Bhopal over land admeasuring 442.476 acres.
Short particulars of the property charged	First Charge on all rights to the pieces and parcels of land bearing Khasra No.312/2 admeasuring about 1.92 hectares situated at Zari Zamni Tehsil, more particularly described in Indenture of mortgage First Charge on Whole of moveable properties of project including its moveable plant and machinery, spares, tools and accessories, vehicles, furniture and fixtures, more particularly described in Indenture First Charge on right, interest, benefits, claims and demand under all of the Project Documents and Clearances, licenses, permits etc. pertaining to the Project, more particularly described in Indenture First Charge on all the rights, interest, benefits, claims and demands, under and/or in respect of the insurance policies of the Project (both present and future), as described in Indenture. First Charge on all right, title, interest, benefits, claims and demands (both present and future), under and in respect of all accounts of Borrower pertaining to the Project, as described in Indenture. Second Charge on Receivables (save and except book debts), all operating cash flows and other receivables, stocks of raw materials, semi-finished and finished goods, consumable stores of the Project. First Charge on all the other assets (both present and future) pertaining to the Project other than the Specifically Mortgaged Properties, including without limitation to the Mortgagor's Cash in hand. First pari passu charge on all the pieces and parcels of land admeasuring 108.557 acres and located at Tehsil Maihar, Satna District in the State of Madhya Pradesh First pari passu charge on all the pieces and parcels of land admeasuring 442.476 acres and located at Tehsil Maihar, Satna District in the State of Madhya Pradesh First pari passu charge all buildings, structures, plant and machinery attached to the earth or permanently fastened to anything attached to the earth on the pieces and parcels of land.
Date of latest modification prior to the present modification	12.07.2012
Particulars of the present modification	In addition to the existing charge created by Indenture of mortgage dated 18 May, 2012, 1^st pari passu charge created on July 12, 2012 by mortgage, additional charge created on October 5, 2012 by mortgage by deposit of title deeds at Bhopal over land admeasuring 442.476 acres

Corporate identity number of the company	U26940MH2007PTC173458
Name of the company	RELIANCE CEMENT COMPANY PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	H Block, 1^st Floor, Dhirubhai Ambani Knowledge City, Navi Mumbai – 400 710, Maharashtra, India E-Mail: rinfra.mcafiling@relianceada.com
This form is for	Modification of charge
Charge identification number of the modified	10363024
Type of charge	Immovable property Any interest in immovable property Movable Property (not being pledge) Floating Charge Others
Particular of charge holder	CIN No.: U65991MH2001GOI131154 IDBI Trusteeship Services Limited, Asian Building, Ground Floor, 17, R. Kamani Marg, Ballard Estate, Mumbai – 400 001, Maharashtra, India E-Mail: itsl@idbitrustee.co.in
Nature of description of the instrument creating or modifying the charge	In addition to the existing charge created by Indenture of mortgage dated 18 May, 2012, first pari passu charge created on July 12, 2012 by mortgage by deposit of title deeds at Bhopal over land admeasuring 108.557 acres and situated at Tehsil Maihar, Satna District in the State of Madhya Pradesh, in favor IDBI Trusteeship Services Limited (security trustee for and on behalf of lenders) to secure the debt of Rs.18350.000 millions. No document was executed.
Date of instrument Creating the charge	12.07.2012
Amount secured by the charge	Rs.18350.000 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Terms of Repayment: The debt will be repaid by the borrower to each of the Lenders in twenty eight (28) equal quarterly installments commencing from the first day of the month following the expiry of fifteen (15) months from the commercial operation date in accordance with the Amortization Schedule. Margin: The total cost of the project with an aggregate capacity of 5.08 mtpa comprising an integrated unit of 2.28 mtpa and a 60 MW CPP at Maihar, a grinding unit of 2 mtpa at Kundangunj and blending unit of 0.8 mtpa at Gondvali is Rs.28730.000 millions funded at a Debt Equity ratio of 65.94: 34.06; with Debt of Rs.18350.000 millions and Equity 9480.000 millions. Extent and Operation of the charge: In addition to the existing charge created by Indenture of mortgage dated 18 May, 2012, first pari passu charge was created on July 12, 2012 by mortgage by deposit of title deeds at Bhopal over land admeasuring 108.557 acres and located at Tehsil Maihar, Satna District in the State of Madhya Pradesh together with all buildings and structures thereon, all plant and machinery attached to the earth or permanently fastened to anything attached to the earth
Short particulars of the property charged	First Charge on all rights to the pieces and parcels of land bearing Khasra No.312/2 admeasuring about 1.92 hectares situated at Zari Zamni Tehsil, more particularly described in Indenture of mortgage First Charge on Whole of moveable properties of project including its moveable plant and machinery, spares, tools and accessories, vehicles, furniture and fixtures, more particularly described in Indenture First Charge on right, interest, benefits, claims and demand under all of the Project Documents and Clearances, licenses, permits etc. pertaining to the Project, more particularly described in Indenture First Charge on all the rights, interest, benefits, claims and demands, under and/or in respect of the insurance policies of the Project (both present and future), as described in Indenture. First Charge on all right, title, interest, benefits, claims and demands (both present and future), under and in respect of all accounts of Borrower pertaining to the Project, as described in Indenture. Second Charge on Receivables (save and except book debts), all operating cash flows and other receivables, stocks of raw materials, semi-finished and finished goods, consumable stores of the Project. First Charge on all the other assets (both present and future) pertaining to the Project other than the Specifically Mortgaged Properties, including without limitation to the Mortgagor's Cash in hand. First pari passu charge on all the pieces and parcels of land admeasuring 108.557 acres and located at Tehsil Maihar, Satna District in the State of Madhya Pradesh First pari passu charge all buildings, structures, plant and machinery attached to the earth or permanently fastened to anything attached to the earth on the pieces and parcels of land.
Particulars of the present modification	Further to the existing Indenture of mortgage dated 18 May, 2012, additional first pari passu charge has been created on July 12, 2012 by mortgage by deposit of title deeds at Bhopal over land admeasuring 108.557 acres and located at Tehsil Maihar, Satna District in the State of Madhya Pradesh together with all buildings, structures, plant and machinery attached to the earth thereon or permanently fastened to anything attached to the earth.

FIXED ASSETS:

Tangible Assets

v Leasehold Land

v Freehold Land

v Plant and Machinery

v Furniture and Fixtures

v Motor Vehicles

v Office Equipments

Intangible Assets

v Software

WEBSITE DETAILS:

BUSINESS OVERVIEW:

Reliance Infrastructure enters into Cement manufacturing through its subsidiary, subject and hence marks the foray of Reliance Group in Cement Business. Set up in 2007, Subject aspires to be a leader in the domain of cement manufacturing and be a part of the Indian Infrastructure development story.

In the long run, Subject aims to carve a niche for itself in the Cement market by establishing a capacity of 50 MTPA (Million tons per annum) through organic and inorganic growth. The first two projects from the house of Subject will be located at Maihar, Madhya Pradesh and Mukutban, Maharashtra. Pegged at 5 MTPA each, these two plants will set the foundation for the upcoming projects thereon. However, a grinding unit at Butibori, Maharashtra will be the first operational unit from this stable with an initial capacity of 0.6 MTPA

Projects

I.  Region- Central India

State- Madhya Pradesh

Integrated Unit at Maihar; Blending Unit at Gondavali and a Grinding unit at Kundanganj

Total Capacity- 5.08 MTPA

II. Region- Western India

State- Maharashtra

Integrated Unit at Yavatmal and two Grinding units, one at Butibori and another located in North Western Maharashtra

Total Capacity- 5.08 MTPA

Sustainable Development

Subject is committed towards sustainability without any compromise. Principles of Sustainable development are integral to their business strategy and flows from their Vision Statement. It covers all the themes affecting the Company’s sphere of influence: climate protection, energy efficiency, environment, human rights, codes of governance, health and safety, labor practices, social initiatives, quality of products and processes, relations with customers and suppliers, research and innovation.

Efforts, Recognition, Awards

Their hard work has continuously been recognized with numerous awards of national and international repute. The awards that they have won speak for themselves and their constant dedication towards their work and nation.

Environmental Awards

v 2006 - Greentech Award for Environmental Excellence" for the year 2006

v 2005 - Greentech Award for Environmental Excellence" for the year 2004-2005

v 2001 - Indo-German Award for Environmental Excellence" by Greentech Foundation

v 2000 - Indo-German Award for Environmental Excellence" by Greentech Foundation

v 2000 - Federation of Indian Chambers of Commerce and Industry (FICCI) Award.

v 2000 - Millennium Business Award for Environmental Achievement" by United Nations (UN) and International Chamber of Commerce (ICC) at BUDAPEST.

v 1999 - Environment Performance Award" by Council of Power Utilities (CPU) as a part of Thermal Centenary Celebration-1999.

v 1998 - The G-51 Millennium Award in the field of Mother Earth protection.

v 1998 - Dr. R.J. Rathi Environmental Award.

v 1997 - International Greenland Society National Award.

Safety Awards

v 2006 - NSC- Maharashtra Chapter - Safety Awards - 2005 for "Lowest Accident frequency rate" during the year 2005

v 2005 - NSC - Maharashtra Chapter - Safety Awards - 2004

v 2004 - Four Stars" Ranking by British Safety Council, UK for Occupational Health and Safety Management System.

v 2004 - National Safety Council-Maharashtra Chapter.

v 2004 - National Safety Award-2003" by Govt. of India.

v 2001 - Safety Award-2001- Yogyata Pramanpatra" by "National Safety Council of India" for good performance in OSH for 1998 to 2000

v 1999 - National Safety Council-Maharashtra Chapter" for longest accident free period during 1999

- For longest accident free period and

- For lowest accident frequency

Operational Performance Awards

v 2006 - 2006 - International Quality Crown Award (IQC Award) in Gold Category" by Business Initiative Directions (BID), Spain.

v 2006 - CII - National Award for Excellence in Energy Management" for 2006 - by Confederation of Indian Industry(C I I).

v 2006 - First Prize - National Award for Meritorious Performance by Central Electricity Authority (CEA), Govt. of India for its Excellent PERFORMANCE amongst Indian Thermal Power Plants in the year 2004-05.

v 2005 - Maharashtra Energy Development Agency (MEDA) Award for Excellence in Energy Conservation and Management in Thermal Power Station sector for the year 2005.

v 2005 - Vishwakarma Rashtriya Purasakar - 2004 (Eight Employees) - by Ministry of Labour and Employment., Govt. of India,

v 2005 - CII - National Award for excellence in Water Management" for 2005 - by Confederation of Indian Industry(C I I )

v 2004 - Reliance Energy was presented the prestigious "QIMPRO Benchmark 2004" award by the QIMPRO Foundation in the "Service Category" on the basis of its performance in 15 parameters including attributes such as Leadership, Strategic planning, Communication, Quality Management System, and Customer Interaction Management, among others - by QIMPRO Foundation.

v 2004 - Dahanu TPS was named as one of the worlds top 12 power plants of 2004 by Platts Power Magazine, in its July/August 2004 edition based on several selection criteria such as operational efficiency, minimal environmental impact, technology use, financing structure, etc.

NEWS:

RELIANCE’S CEMENT PROJECT MAKES SLOW PROGRESS

Monday, July 09, 2012

Anil Ambani group’s cement venture in Madhya Pradesh is making slow progress. As per the original plans the first phase of the project involving an investment of Rs.25000.000 millions was to start in 2008 and complete during the current year. However the project seems to be lagging far behind the schedule and is likely to be complete by the end of 2014. According to the latest available information, the company, Reliance Cement Company Private Limited (RCPL), a wholly-owned subsidiary of R-Infra, has received all regulatory clearances and has placed orders for major plant and machinery for the project. The company has spent Rs.2800.000 millions till April end on this project.

The company is setting up a Greenfield cement unit including a 60 MW coal-based Captive Power Plant at Maihar in District Satna (Madhya Pradesh), a split Cement Grinding Unit (GU) at Kundanganz in District Rae Bareli (Uttar Pradesh) and a split Cement Blending Unit (BU) at Gondvali in District Sidhi (Madhya Pradesh). The total capacity of this project is 5.08 PTPA.

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.55.33
UK Pound	1	Rs.89.05
Euro	1	Rs.72.57

INFORMATION DETAILS

Report Prepared by :

SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--CREDIT LINES	1~10	4
--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		34

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.