MIRA INFORM REPORT

Report Date :

11.04.2014

IDENTIFICATION DETAILS

Name :	CAUVERY NEERAVARI NIGAMA LIMITED
Registered Office :	Cauvery Bhavan Complex, 4^th Stage, Gokulam, Manjunathapura, Mysore – 570020, Karnataka
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	04.06.2003
Com. Reg. No.:	08-032044
Capital Investment / Paid-up Capital :	Rs.11000.500 Millions
CIN No.: [Company Identification No.]	U45205KA2003SGC032044
PAN No.: [Permanent Account No.]	AACCC1680P
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	They undertake Irrigation Project. (They receive fund from Government for Irrigation Projects.)
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

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

Maximum Credit Limit :	USD 270000000
Status :	Satisfactory
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a wholly owned government company having satisfactory track record. Subject gets support from government for irrigation projects. Trade relations are reported to be fair. Business is active. Payments are reported to be fair. Business is active. Payments are reported to be regular and as per commitment. In view of government support, company can be considered for business dealing 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 – December 1, 2013

Country Name	Previous Rating (30.09.2013)	Current Rating (01.12.2013)
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

India’s current account deficit for the fiscal third quarter ended September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product from $31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in exports and moderation in gold imports. Manufacturing activity and new orders in India showed their strongest growth in a year in February. The news comes as a relief after data showed Asia’s third largest economy grew by a slower-than-expected 4.7 % annually in the three months through December. The HSBC Manufacturing Purchasing Managers’ Index which gauges the business activity of India’s factories but not its’ utilities, rose to 52.5 in February, its highest in a year from 51.4 in January. Overall new orders for factory goods which rose to a one-year high of 54.9 contributed to the surge. China has emerged as India’s biggest trading partner in the current financial year replacing the United Arab Emirates and pushing it to the third spot. India-China trade has reached $49.5 billion with a 8.7 % share in India’s total trade. The US comes second at $46 billion with 8.1 % share during the first nine months of the current financial year.

The Reserve Bank of India has granted an additional nine months to the public to exchange currency notes printed before 2005 including Rs 500 and Rs 1,000 denominations, pushing the deadline to January 1, 2015. A day before dates for the Lok Sabha polls were announced, the government decided to hike interest rates on fixed deposit schemes offered by post offices up to 0.2 per cent. The new rates will be effective April, 1. The Supreme Court will resume hearing on March, 11 Nokia’s appeal against a ruling over transferring ownership of its local mobile phones plant which is the subject of a tax dispute to Microsoft Corp.

In the last days of the current Government, another scam has surfaced. The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The Central Bureau of Investigation will look into allegations that over $80 million was paid in kickbacks in a deal signed in 2011. India has asked Boeing Co. to find a solution for problems with state-owned Air India’s 787 Dreamliners. The aircraft has experienced a series of malfunctions since its debut in 2011.

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.

INFORMATION PARTED BY

Name :	Mr. B. Kuppurali Ngaian
Designation :	Finance General Manager
Contact No.:	91-80-22352997
Date :	05.04.2014

LOCATIONS

Registered Office :	Cauvery Bhavan Complex, 4^th Stage, Gokulam, Manjunathapura, Mysore – 570020, Karnataka, India
Tel. No.:	91-80-22352997
Fax No.:	Not Available
E-Mail :	cnnlbancs@yahoo.in

DIRECTORS

AS ON 28.12.2013

Name :

Mr. Jaiprakash Karigiriyappa

Designation :

Managing Director

Address :

Pawansutha Adjecent to Tuda Office, 1^st Block, Kuvempunagar, Tumkur TQ, Tumkur – 572201, Karnataka, India

Date of Birth/Age :

20.05.1962

Date of Appointment :

30.09.2013

DIN No.:

05119822

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	Company/ LLP Status	Defaulting status
1	U70102KA1968SGC001749	KARNATAKA STATE CONSTRUCTION CORPORATION LIMITED	Nominee director	10/08/2006	10/08/2006	Dormant	NO
2	U45205KA2003SGC032044	CAUVERY NEERAVARI NIGAMA LIMITED	Managing director	30/09/2013	30/09/2013	Active	NO

Name :

Mr. Narasimha Raju Narasappa Doddahosahalli

Designation :

Nominee Director

Address :

222/A, Second Main, Mahalakshmi Layout, Bangalore – 560086, Karnataka, India

Date of Birth/Age :

28.01.1960

Date of Appointment :

28.05.2013

DIN No.:

01070476

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	U85110KA1995PLC017192	TAJ KARNATAKA HOTELS AND RESORTS LIMITED	Nominee director	30/09/2003	30/09/2003	27/09/2007	Active	NO
2	L40200DL1984GOI018976	GAIL (INDIA) LIMITED	Director	03/09/2007	30/11/2006	23/01/2009	Active	NO
3	L23220MH1952GOI008931	BHARAT PETROLEUM CORPORATION LIMITED	Additional director	06/12/2006	06/12/2006	07/05/2007	Active	NO
4	L11101AS1959GOI001148	OIL INDIA LIMITED	Nominee director	27/09/2008	01/08/2008	05/01/2012	Active	NO
5	U85110KA1970SGC001919	KARNATAKA POWER CORPORATION LIMITED	Director	21/05/2013	03/02/2012	-	Active	NO
6	U04010KA2002SGC030438	BANGALORE ELECTRICITY SUPPLY COMPANY LIMITED	Director	03/02/2012	03/02/2012	07/02/2013	Active	NO
7	U40109KA2004SGC035177	CHAMUNDESHWARI ELECTRICITY SUPPLY CORPORATION LIMITED	Director	03/02/2012	03/02/2012	07/02/2013	Active	NO
8	U40101KA2007SGC043640	POWER COMPANY OF KARNATAKA LIMITED	Director	03/02/2012	03/02/2012	07/02/2013	Active	NO
9	U31401KA2002SGC030437	HUBLI ELECTRICITY SUPPLY COMPANY LIMITED	Director	03/02/2012	03/02/2012	07/02/2013	Active	NO
10	U40109KA1999SGC025521	KARNATAKA POWER TRANSMISSION CORPORATION LIMITED	Director	21/05/2013	03/02/2012	-	Active	NO
11	U75112KA1996PLC020020	KARNATAKA RENEWABLE ENERGY DEVELOPMENT LIMITED	Nominee director	03/02/2012	03/02/2012	07/02/2013	Active	NO
12	U74900KA2012SGC063386	TADADI PORT LIMITED	Director	02/05/2012	02/05/2012	25/06/2013	Active	NO
13	U10200KA2012SGC066621	KARNATAKA STATE COAL MINING COMPANY LIMITED	Director	07/11/2012	07/11/2012	27/03/2013	Active	NO
14	U85110KA1998SGC024503	KARNATAKA NEERAVARI NIGAM LIMITED	Nominee director	28/05/2013	28/05/2013	-	Active	NO
15	U45205KA2003SGC032044	CAUVERY NEERAVARI NIGAMA LIMITED	Nominee director	28/05/2013	28/05/2013	-	Active	NO
16	L85320KA1994SGC016101	KRISHNA BHAGYA JALA NIGAM LIMITED	Nominee director	28/05/2013	28/05/2013	-	Active	NO
17	U16286KA1994GOI016286	BANGALORE METRO RAIL CORPORATION LIMITED	Nominee director	06/07/2013	06/07/2013	-	Active	NO
18	U55103KA1980SGC003775	JUNGLE LODGES AND RESORTS LIMITED	Nominee director	14/11/2013	14/11/2013	-	Active	NO
19	U45202KA1994FLC015118	INFORMATION TECHNOLOGY PARK LIMITED	Nominee director	26/11/2013	26/11/2013	-	Active	NO

Name :

Mr. Inturi Srinivas Nagesh Prasad

Designation :

Nominee Director

Address :

H. No. C-2, 1^st B Main Road, Block-7, HSR Layout, Sector-VI, Bangalore – 560034, Karnataka, India

Date of Birth/Age :

28.01.1960

Date of Appointment :

30.09.2013

DIN No.:

01469651

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	U45209KA2006PLC038590	MANGALORE SEZ LIMITED	Nominee director	11/08/2009	06/07/2006	-	Active	NO
2	U74999KA2007PLC042018	KSIIDC - IL&FS Project Development Company Limited	Nominee director	24/03/2009	03/05/2007	25/02/2010	Active	NO
3	U40107KA2006PLC041258	ONGC Mangalore Petrochemicals Limited	Director	23/09/2013	20/03/2008	-	Active	NO
4	U45209KA1999SGC025497	KARNATAKA ROAD DEVELOPMENT CORPORATION LIMITED	Managing director	08/07/2009	08/07/2009	06/11/2009	Active	NO
5	U85110KA1998SGC024503	KARNATAKA NEERAVARI NIGAM LIMITED	Nominee director	30/09/2013	18/11/2009	-	Active	NO
6	L85320KA1994SGC016101	KRISHNA BHAGYA JALA NIGAM LIMITED	Nominee director	28/09/2013	27/11/2009	-	Active	NO
7	U85110KA1970SGC001919	KARNATAKA POWER CORPORATION LIMITED	Director	06/09/2013	24/12/2009	-	Active	NO
8	U40109KA1999SGC025521	KARNATAKA POWER TRANSMISSION CORPORATION LIMITED	Director	06/09/2013	03/01/2010	-	Active	NO
9	U55103KA1980SGC003775	JUNGLE LODGES AND RESORTS LIMITED	Nominee director	13/05/2010	13/05/2010	18/09/2012	Active	NO
10	U74900KA2012SGC063386	TADADI PORT LIMITED	Director	30/09/2013	02/05/2012	-	Active	NO
11	U75112KA1998PTC023647	KARNATAKA TRUSTEE COMPANY PRIVATE LIMITED	Nominee director	10/07/2012	10/07/2012	10/09/2013	Active	NO
12	U75112KA1998PTC023646	KARNATAKA ASSET MANAGEMENT COMPANY PRIVATE LIMITED	Nominee director	10/07/2012	10/07/2012	05/09/2013	Active	NO
13	U75112KA1976SGC003055	KARNATAKA STATE ELECTRONIC DEVELOPMENT CORPORATION LIMITED	Nominee director	17/05/2013	23/08/2012	21/09/2013	Active	NO
14	U16286KA1994GOI016286	BANGALORE METRO RAIL CORPORATION LIMITED	Nominee director	18/09/2013	18/09/2013	-	Active	NO
15	U01551KA2003SGC032033	KARNATAKA STATE BEVERAGES CORPORATION LIMITED	Director	21/09/2013	21/09/2013	-	Active	NO
16	U63031KA2008SGC045831	BANGALORE AIRPORT RAIL LINK LIMITED	Director	23/09/2013	23/09/2013	-	Active	NO
17	U99999KA1962PLC001449	BANGALORE TURF CLUB LIMITED	Nominee director	25/09/2013	25/09/2013	-	Active	NO
18	U85110KA1966SGC001612	MYSORE SALES INTERNATIONAL LIMITED	Director	26/09/2013	26/09/2013	-	Active	NO
19	U45205KA2003SGC032044	CAUVERY NEERAVARI NIGAMA LIMITED	Nominee director	30/09/2013	30/09/2013	-	Active	NO
20	U85110KA1993SGC014869	KARNATAKA URBAN INFRASTRUCTURE DEVELOPMENT AND FINANCE CORPORATION LIMITED.	Nominee director	21/10/2013	21/10/2013	-	Active	NO
21	U93000KA1964ULL001532	KARNATAKA STATE INDUSTRIAL AND INFRASTRUCTURE DEVELOPMENT CORPORATION LIMITED	Director	30/10/2013	30/10/2013	-	Active	NO
22	U45203KA2001PLC028418	BANGALORE INTERNATIONAL AIRPORT LIMITED	Director appointed in casual vacancy	13/11/2013	13/11/2013	-	Active	NO

Name :

Mr. Kaushik Mukherjee

Designation :

Nominee Director

Address :

C-11, Block 7, Sector 6, MCHS Colony, HSR Layout, Bangalore – 560064, Karnataka, India

Date of Birth/Age :

08.09.1955

Date of Appointment :

17.12.2013

DIN No.:

02315835

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	U72200KA2007PLC043206	KARNATAKA ENTERPRISE SOLUTIONS LIMITED	Nominee director	12/12/2008	11/07/2008	26/04/2011	Active	NO
2	U75112KA1998PTC023646	KARNATAKA ASSET MANAGEMENT COMPANY PRIVATE LIMITED	Nominee director	21/07/2008	21/07/2008	20/12/2010	Active	NO
3	U75112KA1998PTC023647	KARNATAKA TRUSTEE COMPANY PRIVATE LIMITED	Nominee director	21/07/2008	21/07/2008	20/12/2010	Active	NO
4	U75112KA1960SGC001384	KARNATAKA STATE SMALL INDUSTRIES DEVELOPMENT CORPORATION LIMITED	Director	31/07/2008	31/07/2008	30/11/2010	Active	NO
5	U93000KA1964ULL001532	KARNATAKA STATE INDUSTRIAL AND INFRASTRUCTURE DEVELOPMENT CORPORATION LIMITED	Director	30/10/2013	26/08/2008	-	Active	NO
6	U02005KA1973SGC002314	KARNATAKA STATE FOREST INDUSTRIES CORPORATION LIMITED	Nominee director	20/12/2010	20/12/2010	19/06/2012	Active	NO
7	U75112KA1964SGC001526	KARNATAKA STATE HANDICRAFTS DEVELOPMENT CORPORATION LIMITED	Director	25/01/2011	25/01/2011	27/08/2012	Active	NO
8	L99999KA1936SGC000173	THE MYSORE PAPER MILLS LIMITED	Director	30/09/2011	11/08/2011	-	Active	NO
9	U02001KA1971ULL001999	KARNATAKA FOREST DEVELOPMENT CORPORATION LIMITED.	Director	30/09/2011	30/09/2011	19/06/2012	Active	NO
10	U01122KA2002PLC030443	INTERNATIONAL FLOWER AUCTION BANGALORE LIMITED	Nominee director	31/05/2012	31/05/2012	04/07/2013	Active	NO
11	U00110KA1967SGC001691	KARNATAKA AGRO INDUSTRIES CORPORATION LIMITED	Director	27/06/2012	27/06/2012	20/07/2013	Active	NO
12	U85110KA1966SGC001612	MYSORE SALES INTERNATIONAL LIMITED	Nominee director	25/09/2013	25/09/2013	07/12/2013	Active	NO
13	U74900KA2012SGC063386	TADADI PORT LIMITED	Director	30/09/2013	30/09/2013	31/12/2013	Active	NO
14	L85320KA1994SGC016101	KRISHNA BHAGYA JALA NIGAM LIMITED	Nominee director	31/10/2013	31/10/2013	-	Active	NO
15	U85110KA1998SGC024503	KARNATAKA NEERAVARI NIGAM LIMITED	Nominee director	31/10/2013	31/10/2013	-	Active	NO
16	U45203KA2001PLC028418	BANGALORE INTERNATIONAL AIRPORT LIMITED	Director appointed in casual vacancy	13/11/2013	13/11/2013	-	Active	NO
17	U45205KA2003SGC032044	CAUVERY NEERAVARI NIGAMA LIMITED	Nominee director	17/12/2013	17/12/2013	-	Active	NO
18	U63031KA2008SGC045831	BANGALORE AIRPORT RAIL LINK LIMITED	Director	30/12/2013	30/12/2013	-	Active	NO
19	U01200KA2014PTC073119	Rashtriya e Market Services Private Limited	Additional director	29/01/2014	29/01/2014	-	Active	NO

Name :

Mr. Basavaraju Lingaiah

Designation :

Nominee Director

Address :

2 J P Nagar, 1^st Stage, A Block Mysore South, Mysore – 570002, India

Date of Birth/Age :

09.09.1941

Date of Appointment :

30.08.2008

DIN No.:

02443893

Name :

Mr. Mallanagouda Basanagouda Patil

Designation :

Nominee Director

Address :

31/1, Akkamahadevi Cross Road, Bijapur – 586101, Karnataka, India

Date of Birth/Age :

17.10.1964

Date of Appointment :

28.05.2013

DIN No.:

02558869

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	U85110KA1994PLC016020	TERRA FIRMA BIO TECHNOLOGIES LIMITED	Director	22/03/1995	22/03/1995	02/05/2013	Active	NO
2	U15421KA2001PLC028434	SHREE BASAVESHWAR SUGARS LIMITED	Director	31/03/2002	31/03/2002	23/08/2013	Active	NO
3	U80301KA2011PTC061552	NEPA INTERNATIONAL SCHOOLS EDUCATION PRIVATE LIMITED	Director	08/12/2011	08/12/2011	21/10/2013	Strike off	NO
4	L85320KA1994SGC016101	KRISHNA BHAGYA JALA NIGAM LIMITED	Nominee director	28/05/2013	28/05/2013	-	Active	NO
5	U85110KA1998SGC024503	KARNATAKA NEERAVARI NIGAM LIMITED	Nominee director	28/05/2013	28/05/2013	-	Active	NO
6	U45205KA2003SGC032044	CAUVERY NEERAVARI NIGAMA LIMITED	Nominee director	28/05/2013	28/05/2013	-	Active	NO

Name :

Mr. Belur Gurappa Gurupadaswamy

Designation :

Director

Address :

137, 6^th Cross, Bapuji Layout, Vijayanagar 2^nd Stage, Bangalore – 560040, Karnataka, India

Date of Birth/Age :

14.03.1961

Date of Appointment :

03.05.2011

DIN No.:

03497859

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	Company/ LLP Status	Defaulting status
1	U74210KA1970PLC001379	TUNGABHADRA STEEL PRODUCTS LIMITED	Director	27/09/2013	16/03/2011	Active	NO
2	L85320KA1994SGC016101	KRISHNA BHAGYA JALA NIGAM LIMITED	Nominee director	26/03/2011	26/03/2011	Active	NO
3	U45205KA2003SGC032044	CAUVERY NEERAVARI NIGAMA LIMITED	Director	03/05/2011	03/05/2011	Active	NO
4	U85110KA1998SGC024503	KARNATAKA NEERAVARI NIGAM LIMITED	Nominee director	05/11/2012	13/05/2011	Active	NO
5	U75112KA1974SGC002613	KARNATAKA RURAL INFRASTRUCTURE DEVELOPMENT LIMITED	Director	13/06/2011	13/06/2011	Active	NO
6	U75112KA1996PLC020020	KARNATAKA RENEWABLE ENERGY DEVELOPMENT LIMITED	Nominee director	25/06/2011	25/06/2011	Active	NO

Name :

Mr. Siddaramaiah

Designation :

Nominee Director

Address :

India

Date of Birth/Age :

12.08.1948

Date of Appointment :

28.05.2013

DIN No.:

06609424

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	U85110KA1970SGC001919	KARNATAKA POWER CORPORATION LIMITED	Director	21/05/2013	21/05/2013	-	Active	NO
2	U40109KA1999SGC025521	KARNATAKA POWER TRANSMISSION CORPORATION LIMITED	Director	27/05/2013	27/05/2013	01/02/2014	Active	NO
3	L85320KA1994SGC016101	KRISHNA BHAGYA JALA NIGAM LIMITED	Nominee director	28/05/2013	28/05/2013	-	Active	NO
4	U85110KA1998SGC024503	KARNATAKA NEERAVARI NIGAM LIMITED	Nominee director	28/05/2013	28/05/2013	-	Active	NO
5	U45205KA2003SGC032044	CAUVERY NEERAVARI NIGAMA LIMITED	Nominee director	28/05/2013	28/05/2013	-	Active	NO

Name :

Mr. Kollabhovi Shivashankar

Designation :

Nominee Director

Address :

10, Hanuman Nagar,1^st Main Road, 2^nd Stage, belgaum – 590019, Karnataka, India

Date of Birth/Age :

20.05.1940

Date of Appointment :

19.07.2013

DIN No.:

06669365

Name :

Mr. Basavaraj Koti

Designation :

Nominee Director

Address :

# 690, Vijayanagar, 1^st Stage, 9^th Cross, 10^th Main Road, Mysore – 570017, Karnataka, India

Date of Birth/Age :

22.08.1951

Date of Appointment :

19.07.2013

DIN No.:

06693810

Name :

Mr. Chikkanyakanahally Muddulingaiah Shivashankar

Designation :

Nominee Director

Address :

No 71, Maruthi Housing Society, Vijayanagar, Bangalore – 560040, Karnataka, India

Date of Birth/Age :

03.03.1940

Date of Appointment :

20.08.2013

DIN No.:

06716153

KEY EXECUTIVES

Name :	Mrs. Archana Manohar Kulkarni
Designation :	Company Secretary
Address :	# 254, 6^th Cross, 6^th Block, Nagarbhavi IInd Stage, Nagarbhavi, Bangalore – 560072, Karnataka, India
Date of Birth/Age :	22.07.1981
Date of Appointment :	06.02.2012
PAN No.:	AVDPK5613M

MAJOR SHAREHOLDERS

AS ON 28.12.2013

Names of Shareholders	No. of Shares
Mr. Siddaramaiah	11000000
Mr. M. B. Patil	50
Mr. D. N. Narasimharaju	50
M. Kaushik Mukharjee	50
Mr. I.S.N. Prasad	50
Mr. D. Satya Murty	50
Mr. B. G. Gurupadaswamy	50
Mr. K. Shivashankar	50
Mr. Basavaraj Koti	50
Mr. L. Basavaraju	50
K. Jaiprakash	50
Total	11000500

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Government [Central and State]	99.99
Directors or relatives of Directors	0.01
Total	100.00

BUSINESS DETAILS

Line of Business :

They undertake Irrigation Project. (They receive fund from Government for Irrigation Projects.)

GENERAL INFORMATION

No. of Employees :

Not Divulged

Bankers :

· Bank of Baroda, M G Road Branch, M G Road, Bangalore – 560001, Karnataka, India

· Canara Bank, JC Road, Bangalore – 560027, Karnataka, India

· Canara bank, ETT Section, JC Road, Bangalore – 560027, Karnataka, India

Facilities :

SECURED LOANS	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Long Term Borrowings
Rupee Term loans from banks	61049.548	575.000
Short Term Borrowings
Term loans from banks	575.000	1450.000
Total	61624.548	2025.000

Banking Relations :	--
Auditors :
Name :	Ramesha M. Y. and Company Chartered Accountants
Address :	Ashraya, ## 271, Lakshmi Vilas Road, Devaraja Mohalla, Mysore – 570024, Karnataka, India
PAN No.:	AAEFR4202K

CAPITAL STRUCTURE

AS ON 28.12.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
15000000	Equity Shares	Rs.1000/- each	Rs.15000.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
11000500	Equity Shares	Rs.10/- each	Rs.11000.500 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	11000.500	11000.500	11000.500
(b) Reserves & Surplus	0.000	0.000	0.000
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	56609.070	48146.467	39090.867
Total Shareholders’ Funds (1) + (2)	67609.570	59146.967	50091.367
(3) Non-Current Liabilities
(a) long-term borrowings	61694.562	62198.019	63672.023
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	889.426	97.564	62.500
(d) long-term provisions	60.000	50.000	461.300
Total Non-current Liabilities (3)	62643.988	62345.583	64195.823
(4) Current Liabilities
(a) Short term borrowings	579.900	1454.900	1685.400
(b) Trade payables	0.000	0.000	0.000
(c) Other current liabilities	629.942	660.484	296.802
(d) Short-term provisions	84.583	70.384	62.888
Total Current Liabilities (4)	1294.425	2185.768	2045.090
TOTAL	131547.983	123678.318	116332.280
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	26583.998	26224.400	25542.444
(ii) Intangible Assets	0.690	0.575	0.000
(iii) Capital work-in-progress	101812.677	94215.540	88195.009
(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	666.343	537.629	479.531
(e) Other Non-current assets	0.000	0.000	27.521
Total Non-Current Assets	129063.708	120978.144	114244.505
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	5.023	4.120	4.420
(c) Trade receivables	33.838	49.633	45.966
(d) Cash and cash equivalents	2350.032	2595.587	2006.483
(e) Short-term loans and advances	40.218	23.029	22.103
(f) Other current assets	55.164	27.805	8.803
Total Current Assets	2484.275	2700.174	2087.775
TOTAL	131547.983	123678.318	116332.280

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	0.000	0.000	0.000
		Other Income	341.471	674.971	175.992
		TOTAL (A)	341.471	674.971	175.992
Less	EXPENSES
		Employee Benefits Expenses	940.302	785.608	711.379
		Other Expenses	1246.821	1136.782	911.428
		TOTAL (B)	2187.123	1922.390	1622.807
Less	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		(1845.652)	(1247.419)	(1446.815)
Less	FINANCIAL EXPENSES (D)		119.360	246.976	389.458
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(1965.012)	(1494.395)	(1836.273)
Less	DEPRECIATION/ AMORTISATION (F)		64.270	63.708	61.532
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)		(2029.282)	(1558.103)	(1897.805)
Less	TAX (H)		0.000	0.000	0.000
	PROFIT/(LOSS) AFTER TAX (G-H) (I)		(2029.282)	(1558.103)	(1897.805)
	Earnings/(Loss) Per Share (Rs.)		(184.47)	NA	NA

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	(594.28)	(230.84)	(1078.35)
Return on Total Assets (PBT/Total Assets}	(%)	(6.82)	(5.29)	(6.74)
Return on Investment (ROI) (PBT/Networth)		(0.03)	(0.03)	(0.04)
Debt Equity Ratio (Total Debt /Networth)		0.92	1.08	1.30
Current Ratio (Current Asset/Current Liability)		1.92	1.24	1.02

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Share Capital	11000.500	11000.500	11000.500
Reserves & Surplus	0.000	0.000	0.000
Share Application money pending allotment	39090.867	48146.467	56609.070
Net worth	50091.367	59146.967	67609.570
long-term borrowings	63672.023	62198.019	61694.562
Short term borrowings	1685.400	1454.900	579.900
Total borrowings	65357.423	63652.919	62274.462
Debt/Equity ratio	1.305	1.076	0.921

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Total Income	175.992	674.971	341.471
		283.524	(49.410)

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Sales	175.992	674.971	341.471
Profit	(1897.805)	(1558.103)	(2029.282)
	(1078.35%)	(230.84%)	(594.28%)

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	Yes
10]	Designation of contact person	Yes
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	No

Subject has been established as a wholly owned Government Company under the provisions of Companies Act, 1956. The object is for execution, operation and maintenance of the projects coming Cauvery basin in southern Karnataka.

Subject is presently implementing following irrigation projects the details of projects - wise cumulative expenditure upto 31^st March 2013 during construction period (pending capitalisation) is given below:

Sl. No.	Projects	Cumulative Expenditure upto 31^st March 2012 (Rs. In Millions )
1	Taraka	674.868
2	Harangi Project	5901.270
3	Kabini Project	7769.262
4	D.D.Urs Canal	5005.136
5	Arkavathy	1973.070
6	Manchanbele	901.517
7	Iggalur Project	862.168
8	Uduthorehalla Project	2292.477
9	Bannahalli Hundi L.I.S	199.017
10	Nanjapura LIS	688.994
11	KRS Modernisation	4472.178
12	Hemavathy Project (Canal)	15283.969
13	Votehole Project	625.476
14	Hemavathy Project (Including LIS)	16765.823
15	Yagachi Project	3949.623
16	Kamasamudra LIS	589.965
17	Huchanakoppalu LIS	536.365
18	Kachenahally LIS	408.575
19	Malalur LIS	1.140
20	Anjaneyapura LIS	47.689

MOBILIZATION OF RESOURCES:

The Government of Karnataka provided Rs. 970.15 crores (Rs. Nine Hundred and Seventy Crores and Fifteen Lakhs as equity) during the year as equity contribution and this amount is classified as Share Application Money Pending Allotment. In addition to this Rs. 3.51 crores was provided by Government of Karnataka as grant for development of Ayacut Roads.

UNSECURED LOANS:

Particulars	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Long Term Borrowings
Term Loans from Others	0.000	61054.448
Deposits	645.014	568.571
Short Term Borrowings
Term Loans from Others	4.900	4.900
Total	649.914	61627.919

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10067096	22/08/2006	1,150,000,000.00	BANK OF BARODA	M G ROAD BRANCH, M G ROAD, BANGALORE, KARNATAKA - 560001, INDIA	A05653423
2	80062094	18/08/2004	2,500,000,000.00	CANARA BANK	JC ROAD, BANGALORE, KARNATAKA - 560027, INDIA	-

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.60.21
UK Pound	1	Rs.101.05
Euro	1	Rs.83.33

INFORMATION DETAILS

Information Gathered by :	HNA
Analysis Done by :	SUM
Report Prepared by :	NKT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	5
--CREDIT LINES	1~10	6
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		50

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.