MIRA INFORM REPORT

Report Date :

16.01.2014

IDENTIFICATION DETAILS

Name :	OVERSEAS INFRASTRUCTURE ALLIANCE (INDIA) PRIVATE LIMITED
Formerly Known As :	SOUBHAGYA FINANCE PRIVATE LIMITED
Registered Office :	K.K. Square, 470, Cardinal Gracious Road, Andheri (East), Mumbai – 400 099, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	04.08.1989
Com. Reg. No.:	11-052900
Capital Investment / Paid-up Capital :	Rs.25.100 millions
CIN No.: [Company Identification No.]	U65920MH1989PTC052900
TAN No.: [Tax Deduction & Collection Account No.]	MUMS37416B
PAN No.: [Permanent Account No.]	AABCS5629R
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in Projects Development and Management Activities.
No. of Employees :	168 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (49)

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

Maximum Credit Limit :	USD 41030000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Exist
Comments :	Subject is an established company having a satisfactory track record. Profitability of the company seems to be decent. General financial position of the company seems to be sound and healthy. 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.

ECGC Country Risk Classification List – September 30, 2013

Country Name	Previous Rating (30.06.2013)	Current Rating (30.09.2013)
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 narrowed in the quarter ended September as government measures to curb imports, especially gold, kicked in.  The current account deficit, the excess of a country’s imports of goods and services over exports, narrowed to $ 5.2 billion from $ 21 billion in the year ago period, according to provisional Reserve Bank of India data. Finance Minister P. Chidambaram said the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and the latest data suggests the government may achieve the target.

India was ranked 94^th among the world’s most corrupt nations list. Denmark and New Zealand topped as the cleanest while Somalia emerged as the most corrupt.

India’s services sector activity witnessed a moderate improvement in November over the previous month, even while indicating the fifth successive monthly contraction, according the HSBC survey.

$53 million estimated losses suffered by India due to phishing attacks during the third quarter, according to a study by RSA. India ranks fourth in the list of nations hit by phishing attacks. The US remained at the top of the charts. Phishing is the process of acquiring information such as user names, passwords and credit card details by sending e-mails disguised as official mails.

Rs.4080 million worth of mobile-phone-based transactions by July 2013 compared to Rs.260 million in September, 2012, according to Deloitte report. The number of transactions has shot up from 94000 to 701000.

India aims to earn Rs.400000 million from the bandwidth auction set for January. The merger and acquisition guidelines, cleared by a group of ministers, will be out before the auction begins so that players can make informed decisions on the auctions.

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long-Term Bank Facilities: BBB
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	January 8, 2014

RBI DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAILTERS’ 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 DECLINED BY

Name :	Mr. Atish
Designation :	Accountant
Contact No.:	91-22-66755000
Date :	14.01.2014

LOCATIONS

Registered Office :	K.K. Square, 470, Cardinal Gracious Road, Andheri (East), Mumbai – 400 099, Maharashtra, India
Tel. No.:	91-22-66755000 (Board Line)
Fax No.:	91-22-28252981/ 66755001
E-Mail :	hardik.limbachiya@oialliance.com
Website :	http://www.oialliance.com
Corporate Office :	1205, Surya Kiran, 19, Kasturba Gandhi Marg, New Delhi – 110 001, India
Tel. No.:	91-11-43001111
Fax No.:	91-11-43516321

DIRECTORS

AS ON 16.09.2013

Name :	Dr. Vidya Bhushan Soni
Designation :	Director
Address :	B-20, Pamposh Enclave, Greater Kailash Part-1, New Delhi – 110 048, India
Date of Birth/Age :	13.05.1942
Date of Appointment :	16.08.2005
PAN No.:	AHRPS4186P
DIN No.:	00492317
Name :	Mr. Purushottam Ratanlal Maheshwari
Designation :	Whole-time Director
Address :	18/605, Indra Darshan, Lohkandwala, Andheri (West), Mumbai – 400 053, Maharashtra, India
Date of Birth/Age :	11.06.1957
Date of Appointment :	01.04.2004
PAN No.:	AAMPM0102D
DIN No.:	00577596
Name :	Mr. Ajai Vikram Onkar Singh
Designation :	Director
Address :	Baghsuri House, Jaipur Road, Ajmer, Jaipur – 305 001, Rajasthan, India
Date of Birth/Age :	04.07.1945
Date of Appointment :	22.06.2012
DIN No.:	02184840
Name :	Mr. Rinzing Wangdi
Designation :	Director
Address :	A1-1101, 2^nd Floor, Amparali Road, Vaibhav Khand, Indirapuram, Ghaziabad – 201 010, Uttar Pradesh, India
Date of Birth/Age :	17.12.1947
Date of Appointment :	27.02.2012
DIN No.:	05222275
Name :	Mr. Amalendu Hrishikesh Ghosh
Designation :	Director
Address :	Flat No.301, Grace Classic, Ahimsa Marg, Khar (West), Mumbai – 400 052, Maharashtra, India
Date of Birth/Age :	07.01.1941
Date of Appointment :	16.09.2013
DIN No.:	06595208

KEY EXECUTIVES

Name :	CA. V. P. Rustagi
Designation :	Chief Executive Officer
Name :	Mr. Ambuj Chaturvedi
Designation :	Executive Director
Name :	Mr. Advait Chaturvedi
Designation :	Executive Director
Name :	Mr. Hardik Babubhai Limbachiya
Designation :	Secretary
Address :	C-601, Indrayani CHS Limited, Narmada Nagar, Chincholi Bunder Cross Road, Malad (West), Mumbai – 400 064, Maharashtra, India
Date of Birth/Age :	13.09.1982
Date of Appointment :	09.02.2012
PAN No.:	ADHPL4224F

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 16.09.2013

Names of Shareholders	No. of Shares
Yamuna Estates Private Limited, India	956550
Akash Organics Private Limited, India	1233150
All In One Finance and Investments Private Limited, India	270100
Vidya Bhushan Soni	100
Purushottam Ratanlal Maheshwari	100
Advait Suresh Chaturvedi	25000
Ambuj Suresh Chaturvedi	25000
Total	2510000

AS ON 16.09.2013

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	98.00
Directors or relatives of directors	2.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in Projects Development and Management Activities.

Products :

Item Code No. (ITC Code)	8504
Product Description	Electrical transformers, static converters (for example, rectifiers) and inductors

GENERAL INFORMATION

No. of Employees :

168 (Approximately)

Bankers :

· Indian Overseas Bank, 14-15, Farm Bhawan, Nehru Place, New Delhi – 110 019, India

· Standard Chartered Bank, SME Credit, Crescenzo, 3A/F, Plot No. C-38 and 39, G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051, Maharashtra, India

· Indian Bank, New Delhi Main Branch, G-41, Connaught Circus, New Delhi – 110 001, India

· Axis Bank Limited, Trishul, 3^rd Floor, Opposite Samartheshwar Temple, Law Garden, Ellisbridge, Ahmedabad – 380 006, Gujarat, India

Facilities :

Secured Loans	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
LONG TERM BORROWINGS
Vehicle Loan-Non Current	6.460	7.880
Term Loan from banks-Non Current	56.580	154.160
Total	63.040	162.040

Banking Relations :	--
Auditors :
Name :	Mehra and Sharma Associates Chartered Accountants
Address :	503, Om Niketan, Vithalbhai Patel Road, Andheri (West), Mumbai – 400 058, Maharashtra, India
PAN No.:	AABFM0095Q

CAPITAL STRUCTURE

AS ON 16.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
3350000	Equity Shares	Rs.10/- each	Rs.33.500 millions
700000	Preference Shares	Rs.10/- each	Rs.7.000 millions
	Total		Rs.40.500 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2510000	Equity Shares	Rs.10/- each	Rs.25.100 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	25.100	25.100	25.100
(b) Reserves & Surplus	1000.700	760.680	554.480
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	1025.800	785.780	579.580
(3) Non-Current Liabilities
(a) Long-term borrowings	63.040	162.040	154.120
(b) Deferred tax liabilities (Net)	44.470	33.030	18.520
(c) Other long term liabilities	1161.410	804.420	0.000
(d) Long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	1268.920	999.490	172.640
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	2698.260	1851.690	1302.470
(c) Other current liabilities	4063.580	3565.710	3570.150
(d) Short-term provisions	442.510	314.720	224.700
Total Current Liabilities (4)	7204.350	5732.120	5097.320
TOTAL	9499.070	7517.390	5849.540
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	592.460	606.480	423.180
(ii) Intangible Assets	12.820	8.120	0.000
(iii) Capital work-in-progress	0.000	0.000	3.480
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	177.840
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	525.230	539.110	0.000
Total Non-Current Assets	1130.510	1153.710	604.500
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	13.320	7.200	7.490
(c) Trade receivables	3136.250	1727.990	1138.560
(d) Cash and cash equivalents	1221.640	888.340	1026.770
(e) Short-term loans and advances	3721.390	3526.330	2780.610
(f) Other current assets	275.960	213.820	291.610
Total Current Assets	8368.560	6363.680	5245.040
TOTAL	9499.070	7517.390	5849.540

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Net Sales/Income from Operations	6952.730	6009.400	4221.930
		Other Income	NA	NA	NA
		TOTAL (A)	NA	NA	NA
Less	EXPENSES
		Office Expenses	NA	NA	NA
		Administrative Expenses
		Advertising Expenses
		TOTAL (B)	NA	NA	NA
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		524.340	425.730	312.260
Less	FINANCIAL EXPENSES (D)		NA	NA	NA
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		NA	NA	NA
Less/ Add	DEPRECIATION/ AMORTISATION (F)		NA	NA	NA
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		376.520	309.850	273.960
Less	TAX (H)		136.500	103.650	102.220
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		240.020	206.200	171.740
	EARNINGS IN FOREIGN CURRENCY		6656.530	5584.530	NA
	Earnings / (Loss) Per Share (Rs.)		95.63	82.15	68.42

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Net Profit Margin (PBT/Sales)	(%)	5.42	5.16	6.49
Return on Total Assets (PBT/Total Assets}	(%)	3.96	4.12	5.41
Return on Investment (ROI) (PBT/Networth)		0.37	0.39	0.47
Debt Equity Ratio (Total Debt/Networth)		0.06	0.21	0.27
Current Ratio (Current Asset/Current Liability)		1.16	1.11	1.03

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report (Yes / No)
1) Year of Establishment	Yes
2) Locality of the firm	Yes
3) Constitutions of the firm	Yes
4) Premises details	No
5) Type of Business	Yes
6) Line of Business	Yes
7) Promoter’s background	Yes
8) No. of employees	Yes
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	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	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	Yes
33) Voter ID No of Proprietor/Partner/Director, if available	No
34) External Agency Rating, if available	Yes

LITIGATION DETAILS:

Case Details:

Bench:-Bombay

Presentation Date:- 22/08/2013

Lodging No.:- CPL/573/2013

Filing Date:- 22/08/2013

Petitioner:- INTEGRAL INFRA CONSULT PRIVATE LIMITED

Respondent:- OVERSEAS INFRASTRUCTURE ALLIANCE (INDIA) PRIVATE LIMITED

Petn. Adv.:- Deepak M. Sharma

District:- MUMBAI

Bench:- SINGLE

Status:- Pre-Admission

Category:- COMPANY PETITION U/SEC 433,434,439 COMPANIES ACT

Next Date:- 17/01/2014

Stage:- FOR REJECTION [ORIGINAL SIDE MATTERS]

Coram:- REGISTRAR(OS)/PROTHONOTARY & SR. MASTER

Act :- Companies Act & Rules 1956

Under Section:- 433(E),434 AND 439

INDEX OF CHARGES:

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10469484	21/11/2013	1,650,000.00	INDIAN OVERSEAS BANK	14-15, FARM BHAWAN, NEHRU PLACE, NEW DELHI, DELHI - 110019, INDIA	B93250801
2	10402816	16/01/2013	1,076,000,000.00	INDIAN BANK	NEW DELHI MAIN BRANCH, G-41, CONNAUGHT CIRCUS, NE W DELHI, DELHI - 110001, INDIA	B68013796
3	10377104	28/07/2012	1,850,000.00	AXIS BANK LIMITED	TRISHUL 3RD FLOOR OPPOSITE SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA	B58349085
4	10376582	27/07/2012	765,000.00	AXIS BANK LIMITED	TRISHUL 3RD FLOOR OPPOSITE SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA	B58147265
5	10376584	27/07/2012	1,850,000.00	AXIS BANK LIMITED	TRISHUL 3RD FLOOR OPPOSITE SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA	B58148826
6	10334655	13/12/2011	980,000,000.00	UNION BANK OF INDIA	OVERSEAS BRANCH, 26/28-D, CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA	B31717465
7	10325548	18/02/2013 *	1,759,300,000.00	INDIAN OVERSEAS BANK	14-15, FARM BHAWAN, NEHRU PLACE, NEW DELHI, DELHI - 110019, INDIA	B70078639
8	10312061	20/09/2011	3,150,000,000.00	INDIAN OVERSEAS BANK LEAD BANK OF CONSORTIUM	14-15, FARM BHAWAN, NEHRU PLACE, NEW DELHI, DELHI - 110019, INDIA	B23231251
9	10302494	15/07/2011 *	80,000,000.00	PUNJAB NATIONAL BANK	BO : ECE HOUSE, 28-A, KASTURBA GANDHI MARG, NEW D ELHI, DELHI - 110001, INDIA	B20185468
10	10303081	01/07/2011	80,000,000.00	INDIAN OVERSEAS BANK	14-15, FARM BHAWAN, NEHRU PLACE, NEW DELHI, DELHI - 110019, INDIA	B19052893
11	10187363	17/05/2013 *	297,000,000.00	STANDARD CHARTERED BANK	SME CREDIT, CRESCENZO, 3A/F, PLOT NO. C-38 AND 39, G BLOCK, BANDRA KURLA COMPLEX, BANDRA EAST, MUMBAI, MAHARASHTRA - 400051, INDIA	B77668523
12	10046610	07/01/2011 *	3,500,000,000.00	INDIAN OVERSEAS BANK	14-15, FARM BHAWAN, NEHRU PLACE, NEW DELHI, DELHI - 110019, INDIA	B04866331

* Date of charge modification

NOTE:

The registered office of the company has been shifted from 402, Shubham Centre 1, A-Wing, 491, Cardinal Gracias Road, Andheri (East), Mumbai – 400099, Maharashtra to the present address w.e.f. 25.06.2010.

RESULTS OF OPERATIONS:-

The company has been one of the pioneering companies in executing infrastructure projects in Africa. It has undertaken some of the largest and technically most challenging projects which have been part of the progress of Africa’s overall physical infrastructure. OIA continues to promote responsible infrastructure development and its evolution has been intrinsically linked to the progress of infrastructure development, in the African countries. The Company’s commitment towards value creation for all stakeholders has earned it respect in the industry. The company was able to realize impressive revenue growth and profit margins despite rising input costs and growing competitive Business environment.

MANAGEMENT DISCUSSIONS AND ANALYSIS REPORT

Forward-looking statements:

The report contains forward-looking statements. Since these are based on certain assumptions and expectations of future events, the Company cannot ensure that these are accurate or will be realized. The Company’s actual results, performance or achievements could thus differ from those projected in any forward-looking statements.

Global Economy: As per the IMF Report on Global Economic Outlook 2013, the global economy is yet to shake off the fallout from the crisis of 2008-2009. Global growth dropped to almost 3 percent in 2012, which is half a percentage point lower than the long-term trend since the crisis emerged. Unlike in 2010 and 2011, emerging markets did not pick up the slack in 2012, and are not likely to do so in 2013.

Across the advanced economies, 1.2 percent growth in 2013 is expected, compared to 1.1 percent in 2012.

Overall, growth in Emerging and Developing Economies (EDEs) is projected to drop from 5.5 percent in 2012 to 5.0 percent in 2013. Market expectations of QE taper and the consequent increase in real interest rates in the US have translated into a rapid appreciation of the US dollar and consequent depreciation of EDE currencies. Commodity prices have generally softened, but the price of crude remains elevated.

Indian Economy: Following the slowdown induced by the global financial crisis in 2008-09, the Indian economy responded strongly to fiscal and monetary stimulus and achieved a growth rate of 8.6 per cent and 9.3 per cent respectively in 2009-10 and 2010-11 also. Subsequently, because of external and internal factors, GDP growth decelerated sharply to a low of 6.5 per cent during 2011-12 and hit a decade low of 5 % in

2012-13.

The Indian economy continued to remain sluggish in Q4 of 2012-13, though it still maintained a pace faster than most of the EMDEs. The persistence in slowdown is reflected in below trend growth for seventh consecutive quarters since Q2 of 2011- 12. The slowdown has also turned pervasive with most sectors growing below trend. Leading indicators do not suggest immediate improvement in production activity and a slow-paced recovery is likely to shape only later in 2013-14, supported by good monsoon that could shore up rural demand.

The persisting weakness in industrial activity has heightened the risks to growth. Moreover, global growth has been tepid, with some signs of loss of momentum in the US and in EDEs on top of the ongoing contraction in the euro area. This has impacted world trade with consequent adverse spillovers on India’s exports, manufacturing and services. Over the last one year, the Government has taken several policy initiatives to improve the investment environment. As these initiatives work through the system and are further built upon, the current slowdown could be reversed, returning the economy to a higher growth trajectory. On the basis of the above considerations, the growth projection for 2013-14 has been revised downwards from 5.7 per cent to 5.5 per cent by RBI.

Meanwhile, macro financial risks have amplified with global interest rate cycle starting to turn and causing capital outflows. External sector stress has increased and rupee has depreciated significantly, owing to high levels of Current Account Deficit (CAD) and fiscal deficit, besides the likelihood of Quantitative Easing (QE) ending in the USA.

Some measures were taken recently by India of allowing FDI in multi-brand retail and easing norms for single brand retail. Also, allowing foreign direct investment in aviation and expectation of higher FDI threshold for many other sectors such as defence and insurance can restore some hope in the international markets that the Indian economy in the coming fiscal year will perform upto its potential. I t is expected that 2013 will be a better year than 2012 in terms of growth numbers though challenging in maintaining the upward growth graph.

Africa: As reported by the World Economic Outlook, International Monetary Fund (IMF), countries in Sub-Saharan Africa are expected to continue growing at a strong pace during 2013?14, with both resource-rich and low-income economies benefiting from robust domestic demand. The external environment may be the main source of risks to growth, particularly for middle income and mineral-exporting economies. Given the still-uncertain global environment, African economies need to rebuild fiscal positions without undermining productive investment.

Growth is projected to reach 5.5 percent in 2013, only marginally lower than forecast in the October 2012 WEO. The generally strong performance is based to a significant extent on ongoing investment in infrastructure and productive capacity, continuing robust consumption, and the activation of new capacity in extractive sectors. Thus, the African infrastructure market for OIA is expected to run on an even keel during the coming year.

OIA Operations:-

Finchaa Sugar Factory, Ethiopia:

The Company has successfully concluded execution of key assignments in Finchaa. The Company, as an EPC contractor to the government of Ethiopia for expanding the present capacity of the Finchaa Sugar Factory from 4400 TcD to 12,000 TcD, has completed the installation of the new Milling Tandem with Diffuser, Steam generation units, Power generation units with fresh co-generation capacity and Process House units for the expanded capacity. The company introduced the latest technologies and also expanded the Ethanol plant of 45,000 Litres per day capacity to 110,000 Litres Alcohol productions per day. The outlay by the Ethiopian Sugar Corporation for this expansion project was US$124.73 million.

OIA’S Contribution Towards Africa:

OIA has been playing a stellar role in the growth of African economies, as exemplified by the following milestones:

· Exported engineering goods and services of more than USD 426 million

· Building around 46,400 tons of sugarcane crushing capacity per day

· Sugar projects will contribute to deliver 7,51,680 tons of refined sugar annually

· Cogeneration of 184 MW of power through sugar projects

· Energy projects have erected more than 8,889 km of power lines

· Built more than 433 pole mounted substations

· Lit up more than 9,613 households by electricity connections

· Installation of more than 2,030 street lights

· Knowledge sharing and technology transfer valued at USD 770.5 million

Expansion in New Countries:

· The company has entered into new countries, i.e. Rwanda, Burkina Faso and Republic Of Congo, for execution of Energy projects, Tanzania for water project and in the Maldives for execution of Housing projects.

· The company has qualified to bid for the Zambia Health Post Project in December 2012. 25 companies had submitted their Qualifications for this Indian LOC Project worth 50 Million USD out of which only 9 Companies were short listed including OIA. The Tender is expected shortly.

· The company has submitted a bid of 'Rice Mill Transformation units' in Ivory Coast with a close cooperation of Marketing team. It comes in Agriculture Sector; which is a completely new segment for OIA.

Future Outlook:

The Company has long term business outlook and future growth plans with the availability of good Project Managers and the considerable goodwill enjoyed by the Company with all the clients. The outlook for OIA as an EPC company is looking positive and great potential and opportunities exist for the company in the African continent which is posed for robust growth in coming years and the company possesses skilled business development team to grab these opportunities. The company has also taken a number of steps of developing business in new geography and business segments.

In the engineering and construction industry, the order book is considered as a potential future performance indicator since it represents anticipated revenues. The Company aims to focus not only on order book additions, but also on capturing a quality order book with potentially high margins.

FIXED ASSETS:

Tangible Assets

· Buildings

· Furniture and Fixtures

· Vehicles

· Office Equipment

· Computer Equipments

Intangible Assets

· Computer Software

WEBSITE DETAILS:

PROFILE:

Subject is a project development and management company with offices in India, Ethiopia, Mozambique, Tanzania, Republic of Congo, Burkina Faso, Rwanda, Sudan and Maldives. They analyse, explore, build and deliver essentials to create structures par excellence. Projects undertaken by them are implemented by highly professional, dedicated teams that excel in their chosen fields. Their niche expertise lies in identifying development bottlenecks and design customised solutions along with funding options. Skills are syndicated and products are sourced from alliance partners that are ISO 9001 certified manufacturing and service units.

All their major operations ranging from material procurement, environmental protection procedures and other vital project quality issues comply with the best quality standards.

BOARD OF DIRECTORS

Ambassador Dr. Vidya Bhushan Soni

Chairman and Whole-time Director

Ambassador Vidya Bhushan Soni is overall in-charge and functions from OIA's Corporate office in New Delhi. He is a seasoned diplomat and an alumnus of the University of Oxford, U.K. Having a distinguished career with the Government of India spanning 35 years, he has initiated and expanded diplomatic relations with various heads of State/Government, senior most Government officials and dignitaries, as Ambassador Extraordinary and Plenipotentiary/ High Commissioner of India. He has served in various capacities in Indian diplomatic missions in Moscow, Cairo, Kuala Lumpur, London, Ministry of External Affairs and Ministry of Commerce, New Delhi. He currently also serves as a senior member of the ICWA's Africa Committee.

Ambassador Rinzing Wangdi

Director

An alumnus of Presidency college, Calcutta and National Defence College, Ambassador Rinzing Wangdi is an Indian Foreign Service (IFS)Officer of 1971 batch.

Before retirement in 2009, he was Secretary, Economic Relations and Co-ordination, MEA Government of India. During this tenure he has undertaken and executed various activities with exemplary vigor and responsibility apart from leading numerous Indian delegations to IBSA (for the multi-lateral conference of India, Brazil and South Africa), Mercusur, Asia / Pacific and other multilateral forums.

Mr. Ajai Vikram Singh

Director

Ajai Vikram Singh has served in various capacities with State and Central Government of India. He joined the Indian Administrative Service (IAS) in the year 1967. During these years his postings have been with the Cabinet Secretariat, Ministry of Defence, Ministry of External Affairs and with the Ministry of Industries. He was also posted as Minister (Supply) in the High Commission of India at London for two years.

In November 2000, he was appointed as the first Chief Secretary of the new State of Uttaranchal (now Uttarakhand). Besides being posted in the Central and the State Government, he is also the Chairman and has served as Director on the boards of several companies.

Mr. Purushottam Maheshwari

Whole-time Director

Mr. Purushottam Maheshwari co-ordinates the efforts of the esteemed Board Members and the alliance partners of OIA and is the overall in charge of Accounts, Finance as well as Taxation matters. He is a Commerce Graduate with 22 years of experience in raising finance for Projects, Valuations, Mergers, Acquisitions and Treasury Management. He also handles various compliance matters of the stock exchange and SEBI, stock market operation and is actively involved in public and right issue matters.

Mr. Amlendu Ghosh

Director

A post-graduate in Economics from the Calcutta University with specialization in Statistics and Demography. He also graduated from the same university with "Honours in Economics and Political Science". He is a "Certified Associate of the Indian Institute of Bankers." With 36 years in the Reserve Bank of India in various capacities, Mr. Ghosh retired as Chief General Manager-in-charge of the Department of Banking Operations and Development with major experience in banking sector reform, bank regulation, bank supervision, banking laws promotion, bank inspection, and risk management.

AWARDS AND RECOGNITIONS:

OIA is the proud recipient of the 'GOLD TROPHY - TOP EXPORTER' at the EEPC INDIA Regional Awards 2010-11. OIA has been selected for the prestigious EEPC INDIA Regional Awards for the year 2010-11 under the following category: TOP EXPORTER - GOLD TROPHY in the category of MERCHANT EXPORTER.

OIA President - Corporate Services, Mr. Raj Kumar Joshi accepting the prestigious "Special Trophy For Excellence in Engineering Process Outsourcing Services" from the Chief Guest, Dr. Anup K. Pujari, IAS, Director General of Foreign Trade, Department of Commerce, Government of India at the EEPC INDIA Western Region Awards for 2009-2010 held in Mumbai on 27th June, 2012.

OIA Chairman, Ambassador V.B. Soni was conferred the prestigious "National Leadership Award for Outstanding Achievements in Business Excellence" by Union Minister of State for Chemicals and Fertilisers Mr. Srikant Jena at a function hosted by Indian Organisation for Commerce and Industry (IOCI) in New Delhi on 15th June, 2012

NATIONAL HONOUR

OIA Chairman, Ambassador Dr. V.B. Soni was invited to give a presentation to Smt. Pratibha Patil, Hon'ble President of India on the eve of her State visit to Seychelles and South Africa with a 65 member Indian Business Delegation led by OIA Chairman.

Indian Overseas Bank, Chairman and Managing Director, Mr M. Narendra invited OIA Chairman Ambassador Dr. V. B. Soni and CFO, CA V.P. Rustagi at a ceremony held at their New Delhi Regional Office and felicitated OIA for being "A Special and Valuable Customer".

The OECD Report/Publication on "Strategic Transport Infrastructure Needs to 2030" featured former OIA MC Chairman, Mr Austine Sequeira, Executive Director, Mr Advait Chaturvedi and former Dept. Head, Strategy and Planning, Mr Naveen Sharma in their Steering Group Members. The publication was recently launched globally.

OIA Chairman, Ambassador V. B. Soni and Executive Director, Advait Chaturvedi receiving the prestigious "Star Performer Award" trophy and certificate from EEPC India for the year 2010-11 from the Guest of Honour, Mr. Kenneth Viagem Marizane, Vice Minister of Industry and Trade of the Government of Mozambique at the EEPC India Awards Ceremony in Mumbai, India.

EEPC India conferred the "Silver Trophy" to OIA for being the Top Exporter for the year 2009-10 in the Merchant Exporter Category. OIA CFO, CA V. P. Rustagi receiving the Silver Trophy from Shri Jyotiraditya Scindia, Hon'ble Minister of State for Commerce and Industry at the Awards Ceremony held in New Delhi, India.

OIA Chairman, Ambassador V. B. Soni with the "Commendation Certificate for Strong Commitment to Excel" on the journey towards business excellence , conferred by CII and Exim Bank of India for the year 2011 at the National Quality Summit organised by the CII Institute of Quality at Bangalore, India.

Chairman, Subject, Ambassador V. B. Soni has been conferred "The Best Citizens of India Award" 2011 for his distinguished services by the Indian Publishing House New Delhi, India.

Chairman OIA, Ambassador V. B. Soni along with Team OIA receiving the "Star Performer Award" for the year 2008-09 from Mr Anand Sharma, Chief Guest and Hon. Minister Of Commerce and Industry at The EEPC India Awards Ceremony held In Bangalore, India.

OIA Chairman, Ambassador V. B. Soni joins the National Advisory Committee, PRIASA (Policy Research Institute of African Studies Association).

OIA Chairman, Ambassador V. B. Soni joins CII ASEAN/ANZ committee and he is also the President of Center for Caucasus and Central Asian - Paratethys Region Studies, affiliated with Mumbai and Guahati University.

Proud recipient of the Prestigious STAR PERFORMER AWARD conferred by EEPC India for the year 2008-09.

OIA participates at SAP Best Practices for Engineering Construction and Operations IN V1.604 Workshop

CII featured OIA success story in their Magazine on Top Indian Infrastructure Companies working in Africa

Ministry of Commerce and Industry accredited OIA as a "THREE STAR TRADING HOUSE"

OIA earned a letter of appreciation from IBM in their Client Reference Program focused on the challenges on implementing ERP application and SAP.

News Releases:

OIA EXPECTS COMPLETE GOVERNMENT SUPPORT FOR THE OPTIMAL EXECUTION AND SUCCESS OF INDIAN PPP INITIATIVES

December, 2013, New Delhi, India

The Economic Times Infra Focus Summit was recently conducted in New Delhi with active participation of key Indian infrastructure companies and industry stalwarts to share strategies to effectively plan and deliver infrastructure.

At the summit, Mr. Himanshu Sharma, Vice President – Strategy and Planning, OIA was appointed as one of the panelists to discuss crucial points in the infrastructure sector along with a special emphasis on Public Private Partnership (PPP).

The summit was graced by the presence of key influential guest speakers such as Shri. Kamal Nath - Minister of Urban Development, Government of India and Mr. GajendraHaldea , Advisor(Infrastructure), Planning Commission along with key industry professionals from varied organizations such as LandT Infra, SREI and Rolta India to name a few.

In the panel discussion, Mr. Sharma spoke about the importance of Public Private Partnership and its impact on the infra sector as a whole. He mentioned that many projects in India have been executed under PPP model and have shown great capabilities in executing large projects in domestic and global market and lot of potential remains to target. However, many projects are stranded due to various financial and governance related issues along with few sectors such as infra sectors like roads, health, education and defense in which this concept is still struggling for success. In the PPP, the 3rd P i.e. partnership has great significance, in fact it is key of PPP's success. But adding to this, the partnership objective cannot be achieved unless both P s complement and relate to each other.

Mr. Sharma highlighted few key points which showed the importance of PPP in the Indian Infra Sector scenario, he mentioned that only 5 states viz. Gujarat, MP, Karnataka, Maharashtra and AP contribute 58% share of PPP in India and AP was the only state to enact infrastructure developing act in 2001.

The GOI's 12th year plan shows that 50% spending on infra projects will be met by private sectors along with INR 40,892 billion expenditure which is expected in 12th FYP with a key focus in potential sectors such as Mini Airports, Higher Education Research, Skill Development – Opening upgraded ITI in every block of country, Affordable Housing, IT Centers in all block and towns in the domestic market.

Few issues related to the rigid working of PPP were identified which included Regulatory environment, Lack of information, Project development Lack of institutional capacity and Financing availability.

On a concluding note, Mr. Sharmasaid that the Government's support is needed to show the full success of PPP initiatives and at some stage it has to own with complete responsibility and there is a great potential in domestic and global market where Government can allow private sector to play greater role and to compete at global level.

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.61.59
UK Pound	1	Rs.101.09
Euro	1	Rs.83.99

INFORMATION DETAILS

Information Gathered by :	NYA
Report Prepared by :	SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		49

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.