MIRA INFORM REPORT

Report Date :

11.12.2014

IDENTIFICATION DETAILS

Name :	GTPL HATHWAY PRIVATE LIMITED (w.e.f. 06.05.2013)

Formerly Known As :	GUJARAT TELE LINK PRIVATE LIMITED

Registered Office :	202, Sahajanand Shopping Center, Opposite Swaminarayan Mandir, Shahibaug, Ahmedabad – 380004, Gujarat

Country :	India

Financials (as on) :	31.03.2013

Date of Incorporation :	21.08.2006

Com. Reg. No.:	04-048908

Capital Investment / Paid-up Capital :	Rs.16.930 Millions

CIN No.: [Company Identification No.]	U64204GJ2006PTC048908

PAN No.: [Permanent Account No.]	AACCG6676M

PAN No.: [Permanent Account No.]	Not Available

Legal Form :	Private Limited Liability Company

Line of Business :	Sale and service provider of cable connection and broadband.

No. of Employees :	Information declined by the management.

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Status :	Satisfactory

Payment Behaviour :	Usually correct

Litigation :	Exist

Comments :	Subject is an established company having satisfactory track record. 23 AC for the year 2014 could not be made available from any source. As per financials of 2013, rating reflects healthy financial risk profile marked by sound liquidity position and fair profitability levels of the company. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. The company can be considered 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.

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long terms bank facilities: BBB+
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	08.01.2014

Rating Agency Name	CARE
Rating	Short terms bank facilities: A2
Rating Explanation	Strong degree of safety and low credit risk.
Date	08.01.2014

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 31-03-2014.

INFORMATION DENIED

MANAGEMENT NON CO-OPERATIVE

CONTACT NO.: 91-79-25626476

LOCATIONS

Registered Office / Head Office :	202, Sahajanand Shopping Center, Opposite Swaminarayan Mandir, Shahibaug, Ahmedabad – 380004, Gujarat, India
Tel. No.:	91-79-25626476/77
Fax No.:	91-79-30280335/44
E-Mail :	cs@gtpl.net jayanta@gtpl.net
Website :	www.grpl.net
Location :	Owned

DIRECTORS

AS ON 30.09.2014

Name :	Mr. Aniruddhasinhji Nogubha Jadeja
Designation :	Managing director
Address :	8/A, Kamal Colony, Near Darshan Society, Navrangpura, Ahmedabad – 380009, Gujarat, India
Date of Birth/Age :	27.12.1971
Date of Appointment :	21.08.2006
DIN No.:	00461390
PAN No.:	ABHPJ8931H

Name :	Mr. Kanaksinh Bhurubha Rana
Designation :	Director
Address :	B-7, Nand Bunglow, B/h. Nobel School, Krishna Nagar, Ahmedabad – 381246, Gujarat, India
Date of Birth/Age :	17.03.1969
Date of Appointment :	21.08.2006
DIN No.:	00366445
PAN No.:	ABKPR8971Q

Name :	Mr. Amit Jayantilal Shah
Designation :	Director
Address :	Shriji Krupa Desai Sheri, Ghadiali Pole, Vadodara – 390012, Gujarat, India
Date of Birth/Age :	19.11.1967
Date of Appointment :	12.08.2009
DIN No.:	02450422

Name :	Mr. Parul Anirudhsinh Jadeja
Designation :	Director
Address :	8/A, Kamal Colony, Near Darshan Society, Navrangpura, Ahmedabad – 380009, Gujarat, India
Date of Birth/Age :	22.12.1970
Date of Appointment :	24.11.2008
DIN No.:	02410284
PAN No.:	AFOPB1705N

Name :	Mr. Jagdish Kumar Govinda Pillai
Designation :	Nominee director
Address :	Silver Springs, Flat No. 502, 5^th Floor, Perry Road, Bandra (West), Mumbai – 400050, Maharashtra, India
Date of Birth/Age :	18.01.1962
Date of Appointment :	30.01.2013
DIN No.:	00036481

Name :	Mr. Devendra Shrotri
Designation :	Additional director
Address :	1A, Aashiyana Complex, Soth Civil Lines, Jabalpur – 482001, Madhya Pradesh, India
Date of Birth/Age :	29.05.1972
Date of Appointment :	20.01.2010
DIN No.:	02780296

Name :	Mr. Milind Dattatraya Karnik
Designation :	Director
Address :	E/30, Sai Krupa, Ram Madir Road, Babhai, Borivali (West), Mumbai – 400092, Maharashtra, India
Date of Birth/Age :	02.12.1960
Date of Appointment :	12.10.2007
Date of Cessation :	28.11.2014
DIN No.:	00037127

Name :	Mr. Rohinton Soli Dadyburjor
Designation :	Director
Address :	801, cover Villa, Parsi Colony, Dadar, Mumbai – 400014, Maharashtra, India
Date of Birth/Age :	03.06.1963
Date of Appointment :	12.08.2009
DIN No.:	00207865

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders		No. of Shares
Aniruddhsinh N Jedeja		350750
Kanaksinh B Rana		125000
Amit Shah		25250
Gujarat Digi Com Private Limited, India		499000
Hathway Cable Datacom Limited, India		1000000
Total		2000000

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2014

Category	Percentage
Bodies corporate	74.95
Directors or relatives of Directors	25.05
Total	100.00

BUSINESS DETAILS

Line of Business :

Sale and series provider of cable connection and broadband.

Products :

Item Code No.	Product Description
99532523	Telecommunication

Brand Names :

Not Divulged

Agencies Held :

Not Divulged

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Not Divulged

GENERAL INFORMATION

No. of Employees :

1400 (Approximately)

Bankers :

Axis Bank, Ahmedabad, Gujarat, India

Facilities :

Secured Loan	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
Long-term Borrowings
Rupee term loans from banks	285.881	191.801
Rupee term loans from others	97.658	0.000
Long-term maturities of finance lease obligations	560.591	255.512
Loans taken for vehicles	1.807	2.291
Short-term borrowings
Loans repayable on demand from banks	241.683	126.981
Total	1187.620	576.585


Banking Relations :	--

Auditors :
Name :	J. B. Shah and Company Chartered Accountants
Address :	302 Satkar Complex Behind Lal Bunglow Opposite Tali Bhavan CG Road Navrangpura, Ahmedabad – 380009, Gujarat, India
PAN N Income-tax PAN of auditor or auditor's firm :	ADBPS7222C

Subsidiary:	· GTPL Solanki Cable Network Private Limited, India [U92199GJ2004PTC044487] · GTPL Surat Telelink Private Limited, India [U64204GJ2008PTC052871] · GTPL Zigma Vision Private Limited, India [U32209GJ1991PTC016738] · GTPL SK Network Private Limited, India [U72900MH2008PTC183980] · GTPL Video Badshah Private Limited, India [U64204GJ2008PTC054616] · GTPL Kutch Network Private Limited, India [U64204GJ2008PTC054111] · GTPL Anjali Cable Network Private Limited, India [U64204GJ2008PTC054633] · GTPL City Channel Private Limited, India [U64204GJ2008PTC054647] · GTPL SMC Network Private Limited, India [U64204GJ2008PTC054650] · GTPL Jai Mataji Private Limited, India [U74900GJ2008PTC054376] · GTPL Space City Private Limited, India [U64204GJ2008PTC054649] · GTPL Link Network Private Limited, India [U64204GJ2009PTC056621] · GTPL VVC Network Private Limited, India [U64204GJ2009PTC056619] · Insight Channel Network Private Limited, India [U64204GJ2002PTC041335] · GTPL Vidarbha Telelink Private Limited, India [U72900GJ2008PTC053711] · GTPL Parshwa Cable Network Private Limited, India [U64202GJ2006PTC048132] · GTPL Vision Services Private Limited, India [U64204GJ2008PTC053271] · Narmada Cyberzone Private Limited, India [U32309GJ1999PTC035618] · GTPL Blue Bell Network Private Limited, India [U64204GJ2010PTC059691] · GTPL Shiv Shakti Network Private Limited, India, India [U64204GJ2008PTC054373] · GTPL Dahod Television Network Private Limited, [U64204GJ2010PTC059770] · GTPL Sorath Telelink Private Limited, India [U64204GJ2008PTC053204] · GTPL Jay Shantoshima Network Private Limited, India [U64204GJ2008PTC054615] · GTPL Kolkata Cable and Broadband Pariseva Limited, India [U64204WB2006PLC109517] · GTPL Shiv Network Private Limited, India [U72900GJ2008PTC054620] · Gujarat Telelink East Africa Limited. · GTPL Ahmedabad Cable Network Private Limited, India [U64204GJ2010PTC059946] · GTPL V and S Cable Private Limited, India [U64204AS2006PTC008237] · GTPL Cabnet Private Limited, India [U64204GJ2009PTC056920] · GTPL Sharda Cale Network Private Limited, India [U64204GJ2011PTC067697] · GTPL Video Vision Private Limited

Associate:	· Hathway Cable and Datacom Limited, India [L64204MH1959PLC011421] · GTPL Rajwadi Network Private Limited, India [U72900GJ2008PTC053812]

Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives:	· Gujarat Television Private Limited, India [U64204GJ2008PTC052868] · Gujarat Digi Com Private Limited, India [U65993GJ2007PTC051954] · GTPL Prime Cable Entertainment Private Limited, India [U64204GJ2008PTC054634]

Joint venture	· GTPL Khambhat Cable Network · GTPL World View Cable · GTPL Valsad Network · GT P L S P Enterprise · GTPL Raj World Vision · GTPL Rajwadi Channel · GTPL Om Net · Air Link Communication · GTPL Anil Cable Servces · GTPL Ashok Cable Services · GTPL Baria Television Network · GTPL Ganesh Communication · GTPL Gujarat Television Network · GTPL H K Cable · GTPL Jaydeep Cable · GTPL Krishna Cable Network · GTPL Krishna Cable Services · GTPL Sagar Cable Services · GTPL Sai Cable · GTPL Shiv Cable Baroda · GTPL Shree Sai Cable Network · GTPL Shree Shani Cable · GTPL Rainbow Video Vision · GTPL Rainbow Multi Channel · GTPL M Channel · GTPL Nawaz Network · GTPL Sab Network · GTPL Universal Cable Network · GTPL Kal Cable Network · GTPL A J · GTPL Zubi Video Vision · GTPL Vraj Cable · GTPL Pooja Cable Service · GTPL Pearl Communication Network · GTPL World Vision Ambaji · GTPL Atul Cable Network · GTPL Ma Bhagwati Cable · GTPL Renuka Cable · GTPL Shiv Network · GTPL Hamidali Cable · GTPL Narmada Cable Service · GTPL Kim Cable Entertainment · GTPL Bawa Cable Network · GTPL Bapu Network · GTPL Jyoti Cable · GTPL Leo Vision · GTPL Mtm Cable Network · GTPL Pol Star Vision · GTPL Star Line Cable Network · GTPL World Vision Sangli · GTPL Yak Cable Network · GTPL Buldana City Cable Network · GTPL Hariom World Vision · GTPl Henish Cable Bhatar · GTPL Khushboo Video Channel · GTPL Chaudhary Vision · GTPL Sanjiv Cable Vision Bhatar · GTPL Shiv Cable Batar1 · GTPL Shiv Vision · GTPL - Space

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

5,000,000	Equity Shares	Rs.10/- each	Rs. 50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

2,000,000	Equity Shares	Rs.10/- each	Rs. 20.000 Millions

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount

5000000	Equity Shares	Rs.10/- each	Rs. 50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

1693000	Equity Shares	Rs.10/- each	Rs. 16.930 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	16.930	14.850	14.100
(b) Reserves & Surplus	2395.696	1847.340	1438.060
(c) Money received against share warrants	0.000	0.000	0.000

(2) Share Application money pending allotment	0.000	0.000	97.000
Total Shareholders’ Funds (1) + (2)	2412.626	1862.190	1549.160

(3) Non-Current Liabilities
(a) long-term borrowings	1322.591	631.190	448.333
(b) Deferred tax liabilities (Net)	96.768	86.902	66.537
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	6.294	5.899	38.433
Total Non-current Liabilities (3)	1425.653	723.991	553.303

(4) Current Liabilities
(a) Short term borrowings	412.691	189.492	209.336
(b) Trade payables	533.477	557.680	467.467
(c) Other current liabilities	1045.635	827.058	684.482
(d) Short-term provisions	16.375	13.298	9.187
Total Current Liabilities (4)	2008.178	1587.528	1370.472

TOTAL	5846.457	4173.709	3472.935

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2091.354	1241.672	993.417
(ii) Intangible Assets	512.873	522.752	474.081
(iii) Capital work-in-progress	148.554	35.732	53.280
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	936.234	939.554	771.356
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	51.378	10.387	12.590
(e) Other Non-current assets	63.305	54.105	15.600
Total Non-Current Assets	3803.698	2804.202	2320.324

(2) Current assets
(a) Current investments	1.844	5.857	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	825.304	655.825	595.295
(d) Cash and cash equivalents	344.781	186.235	90.386
(e) Short-term loans and advances	714.381	394.194	390.422
(f) Other current assets	156.449	127.396	76.508
Total Current Assets	2042.759	1369.507	1152.611

TOTAL	5846.457	4173.709	3472.935

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2013	31.03.2012	31.03.2011
	SALES
	Income	3419.058	2821.029	2314.832
	Other Income	10.842	13.569	23.970
	TOTAL	3429.900	2834.598	2338.802

Less	EXPENSES
	Operating Expenses	2002.179	1770.731	1851.290
	Employees Remuneration and Benefits	227.246	180.231
	Other expenses	353.166	280.409
	TOTAL	2582.591	2231.371	1851.290

Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	847.309	603.227	487.512

Less	FINANCIAL EXPENSES	161.113	100.503	52.039

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	686.196	502.724	435.473

Less/ Add	DEPRECIATION/ AMORTISATION	229.792	158.038	128.043

	PROFIT/ (LOSS) BEFORE TAX	456.404	344.686	307.430

Less	TAX EXPENSES	165.777	115.165	--

Less	PRIOR PERIOD ADJUSTMENTS	0.190	(0.509)

Less	PROVISION FOR CURRENT TAX	--	--	85.700

Less	DEFERRED TAX	--	--	18.288

Less	INCOME TAX FOR EARLIER YEARS	--	--	4.201

	PROFIT/ (LOSS) AFTER TAX	290.437	230.030	199.241

	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	NA	642.060	443.515

	Balance Carried to the B/S	NA	872.090	642.060

	Earnings / (Loss) Per Share (Rs.)	171.55	NA	NA

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	8.47	8.12	8.52

Net Profit Margin (PBT/Sales)	(%)	13.35	12.22	13.28

Return on Total Assets (PBT/Total Assets}	(%)	9.58	10.78	11.61

Return on Investment (ROI) (PBT/Networth)		0.19	0.19	0.20

Debt Equity Ratio (Total Debt /Networth)		0.72	0.44	0.42

Current Ratio (Current Asset/Current Liability)		1.02	0.86	0.84

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	14.100	14.850	16.930
Reserves & Surplus	1438.060	1847.340	2395.696
hare Application money pending allotment	97.000	0.000	0.000
Net worth	1549.160	1862.190	2412.626

long-term borrowings	448.333	631.190	1322.591
Short term borrowings	209.336	189.492	412.691
Total borrowings	657.669	820.682	1735.282
Debt/Equity ratio	0.425	0.441	0.719

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)
Sales	2314.832	2821.029	3419.058
		21.868	21.199

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	2314.832	2821.029	3419.058
Profit	199.241	230.030	290.437
	8.61%	8.15%	8.49%

LOCAL AGENCY FURTHER INFORMATION

CURRENT MATURITIES OF LONG-TERM DEBT DETAILS:

Particulars	31.03.2013	31.03.2012	31.03.2011
	(Rs. In Millions)
Current maturities of long-term debt	135.477	138.160	NA

Total	135.477	138.160	NA

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	--
22]	Litigations that the firm / promoter involved in	Yes
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

LITITGATION DETAILS

HIGH COURT OF GUJARAT

SPECIAL CIVIL APPLICATION No. 14128 of 2013

Status : PENDING

( Converted from : C/ST/14153/2013 )

CCIN No : 001021201314128

Next Listing Date:

07/07/2014

Coram

· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA

· HONOURABLE MR.JUSTICE J.B.PARDIWALA

S.NO.

Name of the Petitioner

Advocate On Record

CABLE OPERATOR ASSOCIATION OF GUJARAT

MR SP MAJMUDAR for: Petitioner(s) 1

S.NO.

Name of the Respondant

Advocate On Record

1
2
3
4
5
6
7
8
9
10
11

UNION OF INDIA
TELECOM REGULATORY AUTHORITY OF INDIA (TRAI)
STATE OF GUJARAT
DISTRICT COLLECTOR
DISTRICT COLLECTOR
DISTRICT COLLECTOR
DISTRICT COLLECTOR
GTPL HATHWAY PRIVATE LIMITED.
DEN NETWORK LIMITED.
IN CABLE NETWORK-INDUSIND MEDIA AND COMMUNICATION LIMITED.
AJANTA SKY DARSHAN PRIVATE LIMITED.
more

MR ND GOHIL for :Respondent(s) 1
MR PS CHAMPANERI for :Respondent(s)2
GOVERNMENT PLEADER for :Respondent(s) 3 - 7
MS SRUSHTI A THULA for :Respondent(s) 8
NOTICE SERVED BY DS for :Respondent(s) 9 - 11

Presented On

: 05/09/2013

Registered On

: 06/09/2013

Bench Category

: -

District

: AHMEDABAD

Case Originated From

: THROUGH ADVOCATE

Listed

: 21 times

StageName

: NOTICE & ADJOURNED MATTERS

Classification	DB - VIRUS CHALLENGED - VIRUS CHALLENGED - CONSTITUTION OF INDIA - CENTRAL ACT / STATE ACT / RULE / STATUTORY NOTIFICATION / REGULATIONS
Act	Telecom Regulatory Authority of India Act, 1997 (24 of 1997)

Office Details

S. No.	Filing Date	Document Name	Advocate Name	Court Fee on Document	Document Details
1	05/09/2013	VAKALATNAMA	MR SP MAJMUDAR ADVOCATE for PETITIONER(s) 1	5	MR SP MAJMUDAR(3456) for P:1
2	05/09/2013	MEMO OF APPEAL/PETITION/SUIT	MR SP MAJMUDAR ADVOCATE for PETITIONER(s) 1	50	MR SP MAJMUDAR(3456), for P:1
3	25/09/2013	AFFIDAVIT OF DS	MR SP MAJMUDAR ADVOCATE for PETITIONER(s) 1	0	MR SP MAJMUDAR(3456) for P:1
4	26/09/2013	APPEARANCE NOTE	GOVERNMENT PLEADER for RESPONDENT(s) 3	0	GOVERNMENT PLEADER(1) for R:3 - 7
5	30/09/2013	VAKALATNAMA	MR PS CHAMPANERI ADVOCATE for RESPONDENT(s) 2	5	MR PS CHAMPANERI(214) for R:2
6	01/10/2013	AFFIDAVIT	MR PS CHAMPANERI ADVOCATE for RESPONDENT(s) 2	0	MR PS CHAMPANERI(214) for R:2
7	09/10/2013	APPEARANCE NOTE	MR IH SYED ADVOCATE for RESPONDENT(s) 1	0	MR IH SYED(2321) for R:1 - 2
8	14/10/2013	AFFIDAVIT IN RE-JOINDER	MR SP MAJMUDAR ADVOCATE for PETITIONER(s) 1	0	MR SP MAJMUDAR(3456) for P:1
9	21/10/2013	AFFIDAVIT IN REPLY	GOVERNMENT PLEADER for RESPONDENT(s) 4	0	GOVERNMENT PLEADER(1) for R:4
10	11/02/2014	AFFIDAVIT OF DS	MR SP MAJMUDAR ADVOCATE for PETITIONER(s) 1	0	MR SP MAJMUDAR(3456) for P:1
11	01/03/2014	APPEARANCE NOTE	MS SRUSHTI A THULA ADVOCATE for RESPONDENT(s) 8	0	MS SRUSHTI A THULA(5014) for R:8
12	01/04/2014	AFFIDAVIT IN REPLY	MR PS CHAMPANERI ADVOCATE for RESPONDENT(s) 2	0	MR PS CHAMPANERI(214) for R:2
13	23/06/2014	APPEARANCE NOTE	MR ND GOHIL ADVOCATE for RESPONDENT(s) 1	0	MR ND GOHIL(334) for R:1
Linked Matters

S. No.	CaseDetail	Status Name	Disposal Date	Action/Coram
1	SPECIAL CIVIL APPLICATION/1997/2014	PENDING	-	- · HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA · HONOURABLE MR.JUSTICE J.B.PARDIWALA
2	SPECIAL CIVIL APPLICATION/4653/2014	PENDING	-	- · HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA · HONOURABLE MR.JUSTICE J.B.PARDIWALA
Court Proceedings

S. No.	Notified Date	CourtCode	Board Sr. No.	Stage	Action	Coram
1	10/09/2013	1	17	FOR REGULAR ADMISSION	FIXED NOTICE	· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA · HONOURABLE MR.JUSTICE J.B.PARDIWALA
2	01/10/2013	1	39	NOTICE & ADJOURNED MATTERS	NEXT DATE	· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA · HONOURABLE MR.JUSTICE J.B.PARDIWALA
3	15/10/2013	1	27	NOTICE & ADJOURNED MATTERS	NEXT DATE	· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA · HONOURABLE MR.JUSTICE J.B.PARDIWALA
4	17/10/2013	1	132	NOTICE & ADJOURNED MATTERS	NEXT DATE	· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA · HONOURABLE MR.JUSTICE J.B.PARDIWALA
5	22/10/2013	1	26	FOR REGULAR ADMISSION	FIXED NOTICE	· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA · HONOURABLE MR.JUSTICE J.B.PARDIWALA
6	13/11/2013	1	14	FOR REGULAR ADMISSION	NEXT DATE	· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA · HONOURABLE MR.JUSTICE J.B.PARDIWALA
7	15/11/2013	1	-	NOTICE & ADJOURNED MATTERS		· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA · HONOURABLE MR.JUSTICE J.B.PARDIWALA
8	27/11/2013	1	-	FOR REGULAR ADMISSION	NEXT DATE	· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA · HONOURABLE MR.JUSTICE J.B.PARDIWALA
9	04/12/2013	1	-	ADMISSION (ADJOUNRED MATTERS)		· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA · HONOURABLE MR.JUSTICE J.B.PARDIWALA
10	06/12/2013	1	2	ADMISSION (ADJOUNRED MATTERS)	NEXT DATE	· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA · HONOURABLE MR.JUSTICE J.B.PARDIWALA
11	13/12/2013	1	11	URGENT ADMISSION (ADJOUNRED MATTERS)	NEXT DATE	· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA · HONOURABLE MR.JUSTICE J.B.PARDIWALA
12	27/12/2013	1	7	URGENT ADMISSION (ADJOUNRED MATTERS)	NEXT DATE	· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA · HONOURABLE MR.JUSTICE J.B.PARDIWALA
13	23/01/2014	1	11	URGENT ADMISSION (ADJOUNRED MATTERS)	NEXT DATE	· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA · HONOURABLE MR.JUSTICE J.B.PARDIWALA
14	30/01/2014	1	17	URGENT ADMISSION (ADJOUNRED MATTERS)	FIXED NOTICE	· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA · HONOURABLE MR.JUSTICE J.B.PARDIWALA
15	13/02/2014	1	155	NOTICE & ADJOURNED MATTERS	NEXT DATE	· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA · HONOURABLE MR.JUSTICE J.B.PARDIWALA
16	20/02/2014	1	155	NOTICE & ADJOURNED MATTERS	NEXT DATE	· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA · HONOURABLE MR.JUSTICE J.B.PARDIWALA
17	20/03/2014	1	202	NOTICE & ADJOURNED MATTERS	NEXT DATE	· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA · HONOURABLE MR.JUSTICE J.B.PARDIWALA
18	27/03/2014	1	167	NOTICE & ADJOURNED MATTERS	NEXT DATE	· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA · HONOURABLE MR.JUSTICE J.B.PARDIWALA
19	11/04/2014	1	86	NOTICE & ADJOURNED MATTERS	NEXT DATE	· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA · HONOURABLE MR.JUSTICE J.B.PARDIWALA
20	25/04/2014	1	128	NOTICE & ADJOURNED MATTERS	NEXT DATE	· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA · HONOURABLE MR.JUSTICE J.B.PARDIWALA
21	20/06/2014	1	66	NOTICE & ADJOURNED MATTERS	NEXT DATE	· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA · HONOURABLE MR.JUSTICE J.B.PARDIWALA
22	30/06/2014	1	64	NOTICE & ADJOURNED MATTERS	NEXT DATE	· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA · HONOURABLE MR.JUSTICE J.B.PARDIWALA
23	07/07/2014	1	64	NOTICE & ADJOURNED MATTERS		· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA · HONOURABLE MR.JUSTICE J.B.PARDIWALA
Available Orders

S. No.

Case Details

Judge Name

Order Date

CAV

Judgement

Questions

Transferred

SPECIAL CIVIL APPLICATION/14128/2013

· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA

· HONOURABLE MR.JUSTICE J.B.PARDIWALA

10/09/2013

ORDER

SPECIAL CIVIL APPLICATION/14128/2013

· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA

· HONOURABLE MR.JUSTICE J.B.PARDIWALA

30/01/2014

ORDER

OPERATIONS

The Operations during the year were satisfactory. The Company has earned Rs. 3419.058 Millions as income from operations from Rs. 2821.029 Millions in the previous year. The operating profit for the year increased to Rs. 456.404 Millions as against Rs. 344.686 Millions in the previous year.

UNSECURED LOAN

PARTICULARS	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
Long-term Borrowings
Deferred payment foreign sources	157.711	0.000
Loans and advances from related parties	218.945	181.586
Short-term borrowings
Deferred payment Indian sources	148.310	0.000
Deposits from others	1.348	1.315
Loans and advances from others	21.348	61.196
Total	547.662	244.097

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10489081	03/04/2014	150,000,000.00	YES BANK LIMITED	YES BANK LIMITED, DR. ANNIE BESANT ROAD, WORLI, MUMBAI, MAHARASHTRA - 400018, INDIA	C03086261
2	10472677	27/12/2013	250,000,000.00	SBERBANK	UPPER GROUND FLOOR, GOPAL DASS BHAWAN, 28, BARAK HAMBA ROAD, CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA	B94407368
3	10430016	18/05/2013	200,000,000.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI, MAHARASHTRA - 400018, INDIA	B76674894
4	10402747	24/01/2013	100,000,000.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI, MAHARASHTRA - 400018, INDIA	B67991133
5	10386315	19/10/2012	100,000,000.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI, MAHARASHTRA - 400018, INDIA	B62036298
6	10367269	24/07/2012	100,000,000.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI, MAHARASHTRA - 400018, INDIA	B44265825
7	10366772	29/06/2012	100,000,000.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI, MAHARASHTRA - 400018, INDIA	B44265494
8	10354884	27/05/2014 *	250,000,000.00	IDBI BANK LIMITED	IDBI COMPLEX MUNI. STAFF QUARTERS,, NR.LAL BUNGLOW, AHMEDABAD, GUJARAT - 380006, INDIA	C05139217
9	10165530	03/01/2014 *	936,300,000.00	AXIS BANK LIMITED	TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA	B94094752
10	10142319	03/01/2014 *	936,300,000.00	AXIS BANK LIMITED	TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA	B94092707

* Date of charge modification

CONTINGENT LIABILITIES:

(Rs. in millions)

PARTICULARS	31.03.2013
Corporate gaurantee issued to CISCO Systems Capital (India) Private Limited. On behalf of Subsidiary company for 80,00,000 US $	434.280
Bank Guarantees issued to Government for Issue of Licenses.	2.100

FIXED ASSETS

Tangible assets

· Buildings

· Plant and equipment

· Furniture and fixtures

· Vehicles

· Office equipment

· Computer equipments

Intangible assets

· Computer software

· Licenses and franchise

· Franchise

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.95
UK Pound	1	Rs.97.60
Euro	1	Rs.76.75

INFORMATION DETAILS

Information Gathered by :	SVA

Analysis Done by :	SUM

Report Prepared by :	SNT

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	5
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	6
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		48

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.