1. Summary Information

		Country	India
Company Name	ONGC PETRO ADDITIONS LIMITED	Principal Name 1	Mr. Mukund Manohar Chitale
Status	Project under implementation	Principal Name 2	Mr. Mahesh Behari Lal
		Registration #	04-060282
Street Address	1^st Floor, Omkara Building, Sai Chokdi, Manjalpur, Vadodara – 390011, Gujarat
Established Date	15.11.2006	SIC Code	--
Telephone#	91-265-6192600	Business Style 1	Manufacturer
Fax #	91-265-6192666	Business Style 2	Exporter
Homepage	http://www.opalindia.in	Product Name 1	Petro- Chemical Products
# of employees	Not Available	Product Name 2	--
Paid up capital	Rs.13,009,196,730/-	Product Name 3	--
Shareholders	Government Companies – 100 %	Banking	State Bank of India
Public Limited Corp.	No	Business Period	7 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	Ba (55)
Related Company
Relation	Country	Company Name	CEO
--	--	--	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2013		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	40,506,170,000	Current Liabilities	15,551,740,000
Inventories	0,000	Long-term Liabilities	120,743,950,000
Fixed Assets	10,530,330,000	Other Liabilities	1,520,000
Deferred Assets	0,000	Total Liabilities	136,297,210,000
Invest& other Assets	101,596,500,000	Retained Earnings	(2,100,000)
		Net Worth	16,335,790,000
Total Assets	152,633,000,000	Total Liab. & Equity	152633,000,000
Total Assets (Previous Year)	93,930,510,000
P/L Statement as of	31.03.2013		(Unit: Indian Rs.)
Sales	0,000	Net Profit	(2,100,000)
Sales(Previous yr)	0,000	Net Profit(Prev.yr)	0,000

MIRA INFORM REPORT

Report Date :

21.11.2013

IDENTIFICATION DETAILS

Name :	ONGC PETRO ADDITIONS LIMITED
Registered Office :	1^st Floor, Omkara Building, Sai Chokdi, Manjalpur, Vadodara – 390011, Gujarat
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	15.11.2006
Com. Reg. No.:	04-060282 (New) 55-155513 (Old)
Capital Investment / Paid-up Capital :	Rs. 20219.297 Millions
CIN No.: [Company Identification No.]	U23209GJ2006PLC060282 (New) U23209DL2006PLC155513 (Old)
PAN No.: [Permanent Account No.]	AAACO9200B
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and Exporter of all kinds of Petro- Chemical Products.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (55)

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

Maximum Credit Limit :	USD 65300000
Status :	Project under implementation
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a multi billion joint venture company incorporated in 2006, as a public limited company under the companies act 1956. The company has been promoted by Oil and Natural Gas Corporation (ONGC) and co-promoted by GAIL and GSPC. The subject is yet to commence its commercial operations and incurred huge development expenses in order to implement the project during 2013. However, capital base of the company appears to be strong. The rating also take into consideration the fund raising capabilities of the promoting companies. Trade relations are fair. Payment terms are reported as per commitments. In view of strong support of government owned public sector undertakings, the subject 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 – March 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
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

The current downturn provides an opportunity to push ahead with reforms to accelerate growth, says the latest India Development Update report released by the World Bank. The report says that the adverse effects of rupee depreciation are likely to be offset by the gains in the exports performance due to improved external competitiveness. Since May this year, the local currency has depreciated substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.

A stagflation like situation appears to have arisen as inflation jumped to an eight month high of 6.46 % for the month of September. It is up from 6.10 % in August. Growth continues to be muted with factory output plunging to 0.6  % in August. Onion prices have risen nearly 300 % from last September. Vegetables cost nearly 90 % more than they did last year. Wake up to the economic contribution of slum dwellers. They contribute more than 7.5 % to the country’s gross domestic product, according to a recent study conducted in 50 top cities.

136000 estimated number of jobs created during the second quarter of the current financial year. 50000 estimated number of additional jobs in the field of corporate social responsibility in the coming years.

The International Finance Corporation expects to come out with its rupee linked bonds issue before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been launched in India from 1^st November.

The Land Acquisition Act to provide just and fair compensation to farmers will come into force from January 1 next year, said Rural Development Minister Jairam Ramesh. The Act replaces a 119 year old registration. The Securities and Exchange Board of India has approved the trading of currency futures on the Bombay Stock Exchange. The exchange plans to launch the currency futures platform with advanced trading technology by the end of November.

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Proposed short term debt : A1+
Rating Explanation	Very strong degree of safety and lowest credit risk. (Suspended)
Date	20.03.2013

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 / Corporate Office :	1^st Floor, Omkara Building, Sai Chokdi, Manjalpur, Vadodara – 390011, Gujarat, India
Tel. No.:	91-265-6192600
Fax No.:	91-265-6192666
E-Mail :	sppankaj@opalindia.in info@opalindia.com
Website :	http://www.opalindia.in
Branch Office :	3^rd Floor, Mohan Dev Building, 13, Tolstoy Marg, New Delhi – 110001, India
Tel. No.:	91-11-43199600
Factory :	Plot No.Z-1, Z-83, C/o Dahej Sez Limited, P.O. Dahej – 392130, Taluka Vagra, District Bharuch, Gujarat, India

DIRECTORS

As on 06.09.2013

Name :

Mr. Mukund Manohar Chitale

Designation :

Director

Address :

4/46, Vishnuprasad Society, Shanti Raje Marg, Vile Parle (East), Mumbai- 400057, Maharashtra, India

Date of Birth/Age :

16.11.1949

Date of Appointment :

20.06.2008

DIN No.:

00101004

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	U65990MH1984PLC033929	TCS E-SERVE LIMITED	Director	25/09/2001	25/09/2001	10/08/2007	Active	NO
2	U67100MH2003GOI143291	ASREC (INDIA) LIMITED	Director	10/03/2004	10/03/2004	-	Active	NO
3	L99999MH1946PLC004768	LARSEN AND TOUBRO LIMITED	Director	06/07/2004	06/07/2004	-	Active	NO
4	L31300MH1992PLC067802	RAM RATNA WIRES LIMITED	Director	23/09/2006	28/12/2005	-	Active	NO
5	L65191TN1979PLC007874	SHRIRAM TRANSPORT FINANCE COMPANY LIMITED	Director	26/10/2006	26/10/2006	05/07/2012	Active	NO
6	U25000MH1991PTC064092	PRINCIPAL PNB ASSET MANAGEMENT COMPANY PRIVATE LIMITED	Director	16/08/2007	29/03/2007	-	Active	NO
7	U74999MH2006PLC160835	ITZ CASH CARD LIMITED	Director	03/05/2007	03/05/2007	-	Active	NO
8	U23209GJ2006PLC060282	ONGC PETRO ADDITIONS LIMITED	Director	20/06/2008	20/03/2008	-	Active	NO
9	U40107KA2006PLC041258	ONGC MANGALORE PETROCHEMICALS LIMITED	Director	24/07/2009	20/03/2008	-	Active	NO
10	L74950MH1982PLC028947	ESSEL PROPACK LIMITED	Director	12/05/2009	24/03/2009	-	Active	NO
11	L24294PN1958PLC011052	FOSECO INDIA LIMITED	Director	20/01/2010	27/10/2009	17/10/2013	Active	NO
12	U66030MH2007PLC177117	L&T GENERAL INSURANCE COMPANY LIMITED	Director	23/08/2010	26/05/2010	-	Active	NO
13	U72900MH1996PLC104693	LARSEN AND TOUBRO INFOTECH LIMITED	Director	23/08/2012	17/10/2011	-	Active	NO

Name :

Mr. Mahesh Behari Lal

Designation :

Director

Address :

B-25, Mayfair Gardens, 4^th Floor, Little Gibbs Road, Malabar Hill, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

12.03.1947

Date of Appointment :

06.09.2013

DIN No. :

00129965

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	L23201MH1952GOI008858	HINDUSTAN PETROLEUM CORPORATION LIMITED	Managing director	05/06/2002	05/06/2002	01/04/2007	Active	NO
2	U23200MH1995PLC090671	HINDUSTAN COLAS LIMITED	Director	09/07/2002	09/07/2002	31/03/2007	Active	NO
3	U23201PB2000PLC024126	HPCL-MITTAL ENERGY LIMITED	Director	31/07/2003	31/07/2003	01/04/2007	Active	NO
4	U74899DL1998GOI096845	PRIZE PETROLEUM COMPANY LIMITED	Director	30/09/2005	30/09/2005	01/04/2007	Active	NO
5	U23209GJ2006PLC060282	ONGC PETRO ADDITIONS LIMITED	Director	06/09/2013	23/08/2013	-	Active	NO

Name :

Mr. Tapan Durgadas Ray

Designation :

Director

Address :

K-16, Government Bunglows, Sector-20, Gandhinagar – 382020, Gujarat, India

Date of Birth/Age :

09.09.1957

Date of Appointment :

03.09.2010

DIN No.:

00728682

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	U40109GJ2004SGC045195	GUJARAT URJA VIKAS NIGAM LIMITED	Nominee director	25/07/2006	25/07/2006	16/12/2009	Active	NO
2	U74999GJ1999SGC035459	GUJARAT INFORMATICS LIMITED	Director	11/10/2006	11/10/2006	30/12/2009	Active	NO
3	U64990GJ1988SGC010307	GUJARAT STATE INVESTMENT LIMITED	Director	19/10/2006	19/10/2006	24/12/2009	Active	NO
4	U23209GJ1979SGC003281	GUJARAT STATE PETROLEUM CORPORATION LIMITED	Managing director	09/11/2009	27/10/2006	-	Active	NO
5	L14100GJ1963SGC001206	GUJARAT MINERAL DEVELOPMENT CORPORATION LIMITED	Director	01/11/2006	01/11/2006	09/11/2009	Active	NO
6	U65990GJ1968SGC001524	GUJARAT INDUSTRIAL INVESTMENT CORPORATION LIMITED	Director	01/11/2006	01/11/2006	13/01/2010	Active	NO
7	U65910GJ1992SGC018602	GUJARAT STATE FINANCIAL SERVICES LTD	Director	02/11/2006	02/11/2006	24/12/2009	Active	NO
8	U67120GJ1998SGC033768	GSFS CAPITAL AND SECURITIES LIMITED	Managing director	02/11/2006	02/11/2006	24/12/2009	Active	NO
9	U67120GJ2000SGC037295	INFRASTRUCTURE FINANCE COMPANY GUJARAT LIMITED	Director	29/12/2006	29/12/2006	02/02/2010	Active	NO
10	L40200GJ1998SGC035188	GUJARAT STATE PETRONET LIMITED	Managing director	09/11/2009	31/01/2007	-	Active	NO
11	U24230GJ1982SGC005422	GUJARAT PORTS INFRASTRUCTURE AND DEVELOPMENT COMPANY LIMITED	Director	30/06/2007	30/06/2007	23/12/2009	Active	NO
12	U40102GJ2007SGC051396	BHAVNAGAR ENERGY COMPANY LIMITED	Nominee director	26/07/2007	26/07/2007	09/11/2009	Active	NO
13	U45209GJ2009SGC056466	GUJARAT INDUSTRIAL CORRIDOR CORPORATION LIMITED	Director	30/03/2009	30/03/2009	04/01/2010	Active	NO
14	U23203GJ2007SGC050115	GSPC LNG LIMITED	Nominee director	12/12/2009	31/07/2009	-	Active	NO
15	U40100GJ2006SGC047783	GSPC PIPAVAV POWER COMPANY LIMITED	Nominee director	30/12/2009	09/11/2009	-	Active	NO
16	U23201GJ2006SGC049229	GSPC (JPDA) LIMITED	Nominee director	29/12/2009	09/11/2009	30/03/2013	Active	NO
17	U23100GJ1999SGC035573	GSPC GAS COMPANY LIMITED	Nominee director	09/11/2009	09/11/2009	-	Active	NO
18	U72900GJ2001PLC039162	GUJ INFO PETRO LIMITED	Director	30/09/2010	18/12/2009	-	Active	NO
19	U40100GJ1998SGC035212	GUJARAT STATE ENERGY GENERATION LIMITED	Nominee director	31/12/2009	23/12/2009	-	Active	NO
20	U40200GJ2006PLC048397	SABARMATI GAS LIMITED	Director	20/09/2010	12/01/2010	-	Active	NO
21	U23209GJ2006PLC060282	ONGC PETRO ADDITIONS LIMITED	Director	03/09/2010	15/01/2010	-	Active	NO
22	L74899DL1998PLC093073	PETRONET LNG LIMITED	Nominee director	30/06/2011	21/11/2010	-	Active	NO
23	U40200GJ2011SGC067450	GSPL INDIA TRANSCO LIMITED	Director	26/09/2012	13/10/2011	-	Active	NO
24	U40200GJ2011SGC067449	GSPL INDIA GASNET LIMITED	Director	26/09/2012	13/10/2011	-	Active	NO
25	U11101GJ2012SGC069119	GSPC MARGINAL FIELDS LIMITED	Director	21/02/2012	21/02/2012	30/03/2013	Active	NO
26	U40200GJ2012SGC069118	GSPC DISTRIBUTION NETWORKS LIMITED	Director	21/02/2012	21/02/2012	-	Active	NO
27	L23203GJ1980PLC003623	GUJARAT GAS COMPANY LIMITED	Director	22/08/2013	12/06/2013	-	Active	NO
28	U24110GJ1980PLC004091	GUJARATGAS TRADING COMPANY LIMITED	Director	22/08/2013	09/07/2013	-	Active	NO
29	U65921GJ1994PLC021778	GUJARAT GAS FINANCIAL SERVICES LIMITED	Director	21/08/2013	09/07/2013	-	Active	NO

Name :

Mr. Sudhir Vasudeva

Designation :

Chairman

Address :

D- 282, ONGC Officers, Flat Bandra Reclamation, Bandra West, Mumbai – 400050, Maharashtra, India

Date of Birth/Age :

25.02.1954

Qualification :

PG

Date of Appointment :

21.09.2011

DIN No.:

01594524

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	U51909TN2006PLC059710	MANGALAM RETAIL SERVICES LIMITED	Director	03/05/2006	03/05/2006	18/12/2010	Active	NO
2	L74899DL1993GOI054155	OIL AND NATURAL GAS CORPORATION LIMITED	Managing director	03/10/2011	01/02/2009	-	Active	NO
3	U62200DL1985GOI022233	PAWAN HANS LIMITED	Nominee director	01/02/2009	01/02/2009	05/11/2012	Active	NO
4	L85110KA1988GOI008959	MANGALORE REFINERY AND PETROCHEMICALS LIMITED	Director	04/10/2011	26/02/2009	-	Active	NO
5	U74899DL1965GOI004343	ONGC VIDESH LIMITED	Director	04/10/2011	03/03/2009	-	Active	NO
6	U23209GJ2006PLC060282	ONGC PETRO ADDITIONS LIMITED	Director	21/09/2011	28/03/2011	-	Active	NO
7	U40107KA2006PLC041258	ONGC MANGALORE PETROCHEMICALS LIMITED	Director	23/09/2013	14/10/2011	-	Active	NO
8	U45209KA2006PLC038590	MANGALORE SEZ LIMITED	Director	17/09/2012	18/10/2011	-	Active	NO
9	U40101TR2004PLC007544	ONGC TRIPURA POWER COMPANY LIMITED	Director	29/09/2012	21/10/2011	-	Active	NO
10	L74899DL1998PLC093073	PETRONET LNG LIMITED	Nominee director	04/07/2012	21/11/2011	-	Active	NO

Name :

Mr. Balachandran Srinivasan

Designation :

Additional Director

Address :

D-1/38, Rabindra Nagar, New Delhi - 110003, India

Date of Birth/Age :

27.08.1946

Date of Appointment :

21.09.2011

DIN No.:

01962996

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	U45201DL1980PLC010158	HARISH CHANDRA (INDIA) LTD	Nominee director	18/12/2007	18/12/2007	01/04/2009	Active	NO
2	L63011DL1988GOI030915	CONTAINER CORPORATION OF INDIA LIMITED	Director	01/01/2008	01/01/2008	01/01/2011	Active	NO
3	L29222DL1976GOI008129	DREDGING CORPORATION OF INDIA LIMITED	Director	11/11/2011	17/01/2008	-	Active	NO
4	U45400DL2008PTC174205	SPARR INFRATECH PRIVATE LIMITED	Director	19/02/2008	19/02/2008	-	Active	NO
5	L74899DL1993GOI054155	OIL AND NATURAL GAS CORPORATION LIMITED	Director	23/09/2009	11/11/2008	10/11/2011	Active	NO
6	L40105DL1999PLC099328	PTC INDIA LIMITED	Director	23/09/2009	01/01/2009	-	Active	NO
7	U40106DL2008PLC181648	PTC ENERGY LIMITED	Director	25/09/2009	16/03/2009	-	Active	NO
8	U23209GJ2006PLC060282	ONGC PETRO ADDITIONS LIMITED	Director	21/09/2011	29/11/2010	-	Active	NO
9	U67110MH2008PLC187576	UNITED STOCK EXCHANGE OF INDIA LIMITED	Director	17/09/2012	17/09/2012	-	Active	NO

Name :

Ravindran Mathilakath

Designation :

Director

Address :

B-803, Nikkasingh Block, Khel Gaon Asian Games, New Delhi – 110049, India

Date of Birth/Age :

28.01.1957

Date of Appointment :

06.09.2013

DIN No. :

02309551

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	U23201UP2005PLC030834	GREEN GAS LIMITED	Director	24/08/2009	07/04/2008	31/03/2010	Active	NO
2	U11100AP2011SGC072140	ANDHRA PRADESH GAS DISTRIBUTION CORPORATION LIMITED	Director	09/07/2012	15/10/2011	21/08/2012	Active	NO
3	L23201DL1998PLC097614	INDRAPRASTHA GAS LIMITED	Managing director	06/08/2012	27/10/2011	18/04/2013	Active	NO
4	U40200KL2011GOI029899	KERALA GAIL GAS LIMITED	Director	22/11/2011	22/11/2011	03/12/2011	Active	NO
5	U40200MH1995PLC088133	MAHANAGAR GAS LIMITED	Director	27/08/2013	01/06/2013	-	Active	NO
6	L40200DL1984GOI018976	GAIL (INDIA) LIMITED	Whole-time director	25/09/2013	01/06/2013	-	Active	NO
7	U23209GJ2006PLC060282	ONGC PETRO ADDITIONS LIMITED	Director	06/09/2013	07/06/2013	-	Active	NO

Name :

Mr. Venkatraman Srinivasan

Designation :

Director

Address :

E – 85, Bakhtawar Singh, Block Asian Games Village, New Delhi – 110009, India

Date of Birth/Age :

28.09.1954

Date of Appointment :

21.09.2011

DIN No.:

03039646

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	U23201UP2005PLC030834	GREEN GAS LIMITED	Director	26/07/2010	31/03/2010	28/09/2012	Active	NO
2	L40200DL1984GOI018976	GAIL (INDIA) LIMITED	Whole-time director	07/09/2011	25/09/2010	-	Active	NO
3	U11101AS2007GOI008290	BRAHMAPUTRA CRACKER AND POLYMER LIMITED	Director	29/07/2011	11/10/2010	-	Active	NO
4	U23209GJ2006PLC060282	ONGC PETRO ADDITIONS LIMITED	Director	21/09/2011	28/03/2011	-	Active	NO
5	L23201DL1998PLC097614	INDRAPRASTHA GAS LIMITED	Director	06/08/2012	21/10/2011	14/01/2013	Active	NO
6	U40107MP2006PLC018684	AAVANTIKA GAS LIMITED	Director	16/09/2013	25/09/2012	-	Active	NO
7	U23201TR1990SGC003451	TRIPURA NATURAL GAS COMPANY LIMITED	Nominee director	28/06/2013	28/06/2013	-	Active	NO

Name :

Mr. Jamestin Kizhakkekuttu Scaria

Designation :

Director

Address :

B - 45, Chota Singh, Block Asiad Games, New Delhi – 110049, India

Date of Birth/Age :

16.07.1954

Qualification :

PG

Date of Appointment :

14.09.2012

DIN No.:

03535309

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	L74899DL1993GOI054155	OIL AND NATURAL GAS CORPORATION LIMITED	Whole-time director	30/08/2011	25/05/2011	-	Active	NO
2	U74899DL1965GOI004343	ONGC VIDESH LIMITED	Director	12/08/2011	26/05/2011	25/10/2011	Active	NO
3	U40101TR2004PLC007544	ONGC TRIPURA POWER COMPANY LIMITED	Director	29/09/2012	23/07/2011	-	Active	NO
4	U45209GJ2004PLC044779	DAHEJ SEZ LIMITED	Director	09/09/2011	09/09/2011	-	Active	NO
5	U23209GJ2006PLC060282	ONGC PETRO ADDITIONS LIMITED	Director	14/09/2012	21/09/2011	-	Active	NO
6	L85110KA1988GOI008959	MANGALORE REFINERY AND PETROCHEMICALS LIMITED	Director	26/09/2011	26/09/2011	31/10/2011	Active	NO
7	U40107KA2006PLC041258	ONGC MANGALORE PETROCHEMICALS LIMITED	Director	23/09/2013	14/10/2011	-	Active	NO
8	U45209KA2006PLC038590	MANGALORE SEZ LIMITED	Nominee director	17/09/2012	18/10/2011	-	Active	NO
9	U85110KA1998PLC024020	PETRONET MHB LIMITED	Director	21/09/2012	07/08/2012	-	Active	NO

Name :

Mr. Pronip Kumar Borthakur

Designation :

Director

Address :

D-2/92, ONGC Colony, Reclamation, Bandra, Mumbai – 400050, Maharashtra, India

Date of Birth/Age :

01.02.1954

Qualification :

PG

Date of Appointment :

06.09.2013

DIN No. :

06417854

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	L74899DL1993GOI054155	OIL AND NATURAL GAS CORPORATION LIMITED	Whole-time director	25/09/2013	30/10/2012	-	Active	NO
2	U62200DL1985GOI022233	PAWAN HANS LIMITED	Nominee director	05/11/2012	05/11/2012	-	Active	NO
3	U23209GJ2006PLC060282	ONGC PETRO ADDITIONS LIMITED	Director	06/09/2013	16/11/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Subodh Prasad Pankaj
Designation :	Secretary
Address :	2B, 1^st Floor, Siongle Storey, Ramesh Nagar, New Delhi-110015, India
Date of Birth/Age :	15.03.1964
Date of Appointment :	11.01.2010
PAN No. :	AEDPP9426Q

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 06.09.2013

Names of Shareholders	No. of Shares
Oil and Natural Gas Corporation Limited, New Delhi, India	997955639
Gujarat State Petroleum Corporation Limited, India	29004033
Gail (India) Limited, India	994945000
R Vijayarangan	5000
Shyama Prasad Bandopadhyay	1
Vijay N Iyah	4999
Vivek Tongaonkar Chandrakant	1
Dr. PSV Rao	1
Saket Gupta	5000
Sunil Arora	4997
Sunil Kumar Gupta	5000
Total	2021929671

As on 06.09.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Government Companies	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of all kinds of Petro- Chemical Products.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

State Bank of India

Facilities :

SECURED LOANS	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
LONG TERM BORROWINGS
Rupee term loans from banks	16740.000	0.000
Total	16740.000	0.000

Banking Relations :	--
Financial Institution:	SBICAP Trustee Company Limited, 202, Maker Tower, 'E', Cuffe Parade, Colaba, Mumbai - 400005, Maharashtra, India
Auditors :
Name :	Singhi and Company Chartered Accountants
Address :	B2,402B, Marathan Innova, 4^th Floor, Off Ganpatrao Kadam Marg, Opposite Peninsula Corporate Park, Lower Parel, Mumbai - 400013, Maharashtra, India
Income-tax PAN of auditor or auditor's firm :	AASFS9578D

CAPITAL STRUCTURE

As on 06.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
8000000000	Equity Share	Rs.10/- each	Rs. 80000.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2021929671	Equity Share	Rs.10/- Each	Rs. 20219.297 Millions

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
8000000000	Equity Share	Rs.10/- each	Rs. 80000.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1300919673	Equity Share	Rs.10/- Each	Rs. 13009.200 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	13009.200	0.500	0.500
(b) Reserves & Surplus	(2.100)	0.000	0.000
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	3328.690	13351.790	12987.190
Total Shareholders’ Funds (1) + (2)	16335.790	13352.290	12987.690
(3) Non-Current Liabilities
(a) long-term borrowings	16740.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	1241.970	325.760	0.000
(d) long-term provisions	1.420	1.160	1.240
Total Non-current Liabilities (3)	17983.390	326.920	1.240
(4) Current Liabilities
(a) Short term borrowings	104003.950	69949.150	34464.500
(b) Trade payables	0.000	0.000	0.000
(c) Other current liabilities	14309.770	10302.120	7918.970
(d) Short-term provisions	0.100	0.030	0.030
Total Current Liabilities (4)	118313.820	80251.300	42383.500
TOTAL	152633.000	93930.510	55372.430
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	10529.000	10781.560	2356.920
(ii) Intangible Assets	1.330	1.410	0.430
(iii) Capital work-in-progress	101596.500	49457.940	24131.850
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	40318.560	33653.610	3586.400
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	152445.390	93894.520	30075.600
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	0.000	0.000	0.000
(d) Cash and cash equivalents	0.160	2.930	0.200
(e) Short-term loans and advances	162.580	22.160	25288.170
(f) Other current assets	24.870	10.900	8.460
Total Current Assets	187.610	35.990	25296.830
TOTAL	152633.000	93930.510	55372.430

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	0.000	0.000	0.000
		Other Income	0.000	0.000	0.000
		TOTAL	0.000	0.000	0.000
Less	EXPENSES
		Expenditure on production, transportation and other expenditure pertaining to E&P activities	2.100	0.000	0.000
		TOTAL	2.100	0.000	0.000
	PROFIT/ (LOSS) BEFORE TAX		(2.100)	0.000	0.000
Less	TAX		0.000	0.000	0.000
	PROFIT/ (LOSS) AFTER TAX		(2.100)	0.000	0.000
	Earnings / (Loss) Per Share (Rs.)		(0.01)	0.00	0.00

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	0.00	0.00	0.00
Net Profit Margin (PBT/Sales)	(%)	0.00	0.00	0.00
Return on Total Assets (PBT/Total Assets}	(%)	0.00	0.00	0.00
Return on Investment (ROI) (PBT/Networth)		0.00	0.00	0.00
Debt Equity Ratio (Total Debt/Networth)		7.39	5.24	2.65
Current Ratio (Current Asset/Current Liability)		0.00	0.00	0.60

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	No
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

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10407183	25/02/2013	149,770,000,000.00	SBICAP TRUSTEE COMPANY LIMITED	202, MAKER TOWER, 'E', CUFFE PARADE, COLABA, MUMBAI - 400005, MAHARASHTRA, INDIA	B69220598

NOTE

The Registered office of the company has been shifted form 4^th Floor, VCCI Commercial Complex 73, GIDC, Makarpura, Vadodara 390010, Gujarat, India to present address w.e.f. 30.08.2011.

UNSECURED LOANS

PARTICULAR	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
SHORT TERM BORROWINGS
Loans repayable on demand from banks	104003.950	69949.150
Total	104003.950	69949.150

GENERAL INFORMATION ABOUT COMPANY

Subject, a joint venture company, was incorporated in 2006, as a Public Limited Company under the Companies Act, 1956, promoted by Oil and Natural Gas Corporation (ONGC) and co-promoted by GAIL and GSPC. The company is developing a Greenfield Petrochemical complex at Dahej SEZ - Gujarat.

FINANCIAL RESULTS

The company is yet to commence commercial operations. The cumulative Project Development Expenses of 153409.300 Millions (Previous Year Rs.91840.300 Millions) incurred upto 31st March, 2013 in implementation of the Project are to be capitalized.

ECONOMIC SCENARIO GLOBAL AND INDIAN

GLOBAL ECONOMY

Global economic activity remains subdued amidst signs of diverging growth paths across major economies. US is making a slow progress on recovery front largely driven by improvements seen in housing sector and employment conditions. Japan's economy stopped contracting in Q4 of 2012. There has been some improvement in consumer confidence on account of monetary and fiscal stimulus along with a pick-up in external demand on the back of a weakening yen. On the other hand, Europe witnessed recessionary conditions characterised by deterioration in industrial production, owing to dampened exports and sluggish domestic demand. High unemployment, fiscal drag and hesitant progress on financial sector repair have eroded consumer confidence.

Growth in emerging and developing economies saw better performance as domestic demand rose on a turnaround in the inventory cycle and some pick-up in investment. Among BRICS countries, while countries like Brazil and South Africa witnessed accelerated growth, others like China, Russia and India grew below expectations. China's manufacturing too is expanding at a slower pace fuelling concern that the world's second biggest economy is also faltering.

INDIAN ECONOMY

The Central Statistics Office (CSO) pegs the advance estimate of GDP growth for FY 12-13 at 5.0%, down from 6.6% clocked last year. With output expansion of barely 4.5% in 3rdquarter the cumulative growth dropped to the lowest in last 15 quarters. This was mainly due to the protracted weakness in industrial activity aggravated by domestic supply bottlenecks, and slowdown in the services sector reflecting weak external demand. Also risks on account of inflation, fiscal deficit, current account deficit, sluggishness in exports coupled with political uncertainty at the centre remain significant.

Investment rate for the fiscal is estimated to be 35.8% of GDP with a sharp decline in the capital productivity as Incremental Capital Output Ratio (ICOR) has risen to very high levels against a historical level of around 4.0. Current Account Deficits (CAD) is expected to be 5.1% for the FY 12-13, historically the highest (touched a figure of 6.7% in Q3) and well above the sustainable level of 2.5% of GDP estimated by RBI. The slow pace of growth has depressed corporate profitability, stretched balance sheets, and weakened sentiment and expectations. Sectors like automobiles (both LCV and HCV) and FMCG have witnessed considerable dampening. On account of above reasons, the current investment climate is largely subdued.

On the other hand, good news is that the headline inflation measured by WPI moderated to an average of 7.3% from 8.9% in the year before. The easing was particularly significant in the last quarter of the year following moderation in various commodity prices including crude oil.

Overall economic growth is expected to rise to 6.4% in FY13-14 on the back of much better performance by primary sector and manufacturing.

FIXED ASSETS

v Tangible Assets

Land

Buildings

Factory building

Other building

Plant and equipment

Factory equipments

Other plant and equipment

Furniture and fixtures

Office equipment

Computer equipments

Other equipments

Leasehold improvements

Bridges roads ports culverts

v Intangible Assets

Computer software

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.62.56
UK Pound	1	Rs.100.77
Euro	1	Rs.84.71

INFORMATION DETAILS

Report Prepared by :

MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	7
--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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		55

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.