MIRA INFORM REPORT

Report No. :	331189
Report Date :	07.07.2015

IDENTIFICATION DETAILS

Name :	WELSPUN STEEL LIMITED (w.e.f. 26.05.2010)
Formerly Known As :	WELSPUN POWER AND STEEL LIMITED
Registered Office :	Survey No.650, Village Varsamedi, Taluka Anjar, District Kutch – 370 110, Gujarat
Tel. No.:	91-2836-279051
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	03.06.2004
Com. Reg. No.:	04-044249
Capital Investment / Paid-up Capital :	Rs.1100.900 million
CIN No.: [Company Identification No.]	U27109GJ2004PLC044249
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	RKTW00058C
PAN No.: [Permanent Account No.]	AAACW5308G
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is engaged in the business of manufacturing of ribbed thermo mechanically treated rebars, sponge iron, and ingots/billets.
No. of Employees :	Information declined by the Management.

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

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 was established in June 2004 and is a part of the “Welspun Group”. It is an established company having satisfactory track record. For the financial year ended 2014, company has reported loss from its operational activities. However, rating derive strength from the parentage of the Welspun Group backed by experienced management team and continued support from promoters in the form of fund infusion to support operations. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. In view of being part of Welspun Group, the company can be considered for business dealings at usual trade terms and condition.

NOTES :

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

ECGC Country Risk Classification List – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long Term Bank Facilities = BBB
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	23.03.2015

Rating Agency Name	CARE
Rating	Short Term Bank Facilities = A3+
Rating Explanation	Moderate degree of safety and higher credit.
Date	23.03.2015

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 31-03-2013.

INFORMATION DECLINED

Management non-cooperative

(Tel. No.: 91-22-66136000)

LOCATIONS

Registered Office/ Factory :	Survey No.650, Village Varsamedi, Taluka Anjar, District Kutch – 370 110, Gujarat, India
Tel. No.:	91-2836-279051/ 53/ 54/ 55/ 56
Fax No.:	91-2836-279050
E-Mail :	secretariallegal@welspun.com dilip_chokhra@welspun.com wpslanjar_gov@welspun.com rashmi_mamtura@welspun.com
Website :	www.welspunsteel.com
Corporate Office :	Welspun House, 7^th Floor, Kamala Mills Compound, Senapati Bapat Marg, Lower Parel, Mumbai – 400 013, Maharashtra, India.
Tel. No.:	91-22-66136000
Fax No.:	91-22-24908020
Branch Office :	23-HIG, BDA Housing Complex, Gangadhar Meher Nagar, Jayadev Vihar, Bhubaneshwar – 751 013, Orissa, India
Tel. No.:	91-674-2300223
Fax No.:	91-674-2300224

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Sitaram Damodardas Somani

Designation :

Director

Address :

N-8/18 Ganpati Niwas, Bangur Niwas Building, Goregaon (West), Mumbai – 400 090, Maharashtra, India.

Date of Birth/Age :

23.01.1948

Qualification :

C.A

Date of Appointment :

22.03.2006

DIN No.:

00005017

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	U27109GJ2004PLC044249	WELSPUN STEEL LIMITED	Director	22/03/2006	22/03/2006	-	Active	NO
2	U51909GJ2002PTC041136	WELSPUN ENERGY PRIVATE LIMITED	Director	15/09/2006	15/09/2006	11/06/2012	Active	NO
3	U40109MH2006PLC165964	WELSPUN URJA INDIA LIMITED	Director	28/09/2007	05/12/2006	-	Active	NO
4	U45400OR2007PTC015831	WELSPUN ORISSA STEEL PRIVATE LIMITED	Director	12/07/2008	12/07/2008	-	Active	NO
5	U40103MH2009PTC197021	WELSPUN RENEWABLES ENERGY PRIVATE LIMITED	Director	11/11/2009	11/11/2009	24/03/2014	Active	NO
6	U40103MH2009PLC197024	WELSPUN ENERGY CHHATTISGARH LIMITED	Director	11/11/2009	11/11/2009	-	Active	NO
7	U40300MH2009PLC197014	WELSPUN ENERGY MADHYA PRADESH LIMITED	Director	11/11/2009	11/11/2009	-	Active	NO
8	U40108MH2007PTC170611	WELSPUN ENERGY ANUPPUR PRIVATE LIMITED	Director	19/08/2010	19/03/2010	-	Active	NO
9	U40108MH2006PTC165672	SOLARSYS NON-CONVENTIONAL ENERGY PRIVATE LIMITED	Director	07/06/2010	19/03/2010	-	Active	NO
10	U40108MH2006PTC165673	WELSPUN ENERGY MAHARASHTRA PRIVATE LIMITED	Director	08/07/2010	19/03/2010	-	Active	NO
11	U40108DL2006PTC274219	WELSPUN ENERGY RAJASTHAN PRIVATE LIMITED	Director	08/07/2010	19/03/2010	-	Active	NO
12	U40108MH2006PTC165671	WELSPUN ENERGY RESOURCES PRIVATE LIMITED	Director	08/07/2010	19/03/2010	-	Active	NO
13	U40100GJ2010PLC060502	WELSPUN CAPTIVE POWER GENERATION LIMITED	Director	30/04/2010	30/04/2010	-	Active	NO
14	U40106DL2010PTC277364	WELSPUN SOLAR TECH PRIVATE LIMITED	Director	23/07/2010	23/07/2010	-	Active	NO
15	U65990GJ1992PLC050965	KRISHIRAJ TRADING LIMITED	Director	24/09/2012	27/04/2012	-	Active	NO
16	L51101GJ2012PLC072578	WELSPUN ENTERPRISES LIMITED	Director	05/11/2012	05/11/2012	21/02/2014	Amalgamated	NO
17	U52100GJ2012PTC072946	VEREMENTE SIMPLE-LIVING PRIVATE LIMITED	Director	11/12/2012	11/12/2012	-	Active	NO
18	U27100GJ2014PTC080182	WS ALLOY HOLDING PRIVATE LIMITED	Director	21/07/2014	21/07/2014	-	Active	NO

Name :

Mr. Rajesh Rameshkumar Mandawewala

Designation :

Director

Address :

161/171-B, Opposite Sidhivinayak Temple, Tanna Residency, Prabhadevi, Mumbai – 400 025, Maharashtra, India

Date of Birth/Age :

05.05.1962

Qualification :

F.C.A

Date of Appointment :

01.09.2006

DIN No.:

00007179

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	L17110GJ1985PLC033271	WELSPUN INDIA LIMITED	Managing director	01/04/2014	26/10/1989	-	Active	NO
2	L99999DN1983PLC000045	WELSPUN SYNTEX LIMITED	Director	10/10/2010	16/07/1991	-	Active	NO
3	L65910DL1987PLC019341	WELSPUN FINANCE LIMITED	Director	16/04/1992	16/04/1992	19/07/2010	Active	NO
4	L27100GJ1995PLC025609	WELSPUN CORP LIMITED	Director	26/04/2012	26/04/1995	-	Active	NO
5	U18101MH1997PLC107982	WELSPUN ZUCCHI TEXTILES LIMITED	Director	13/05/1997	13/05/1997	-	Active	NO
6	U17120MH1972GAT016028	ASSOCIATION OF SYNTHETIC FIBRE INDUSTRY	Nominee director	25/09/1999	25/09/1999	-	Active	NO
7	U17120GJ1985PTC056127	WELSPUN WINTEX LIMITED	Director	25/11/2002	25/11/2002	-	Active	NO
8	U65990GJ1992PLC050965	KRISHIRAJ TRADING LIMITED	Director	26/12/2002	26/12/2002	27/04/2012	Active	NO
9	U65910GJ1982PTC055383	WELSPUN FINTRADE PRIVATE LIMITED	Director	26/12/2002	26/12/2002	-	Active	NO
10	U70100GJ1989PLC056345	WELSPUN MERCANTILE LIMITED	Director	26/12/2002	26/12/2002	-	Active	NO
11	U01403MH2000PLC123779	MEP COTTON LIMITED	Director	27/06/2006	27/06/2006	15/03/2012	Active	NO
12	U70200MH1998PLC117426	WELSPUN DEVELOPERS AND INFRASTRUCTRE LIMITED	Director	05/08/2006	05/08/2006	-	Amalgamated	NO
13	U22210GJ1995PLC027871	WELSPUN ANJAR SEZ LIMITED	Director	16/08/2006	16/08/2006	19/07/2010	Active	NO
14	U27109GJ2004PLC044249	WELSPUN STEEL LIMITED	Director	01/09/2006	01/09/2006	-	Active	NO
15	U51909GJ2002PTC041136	WELSPUN ENERGY PRIVATE LIMITED	Director	21/09/2012	15/09/2006	-	Active	NO
16	U40109MH2006PLC165964	WELSPUN URJA INDIA LIMITED	Additional director	05/12/2006	05/12/2006	20/08/2007	Active	NO
17	U70102MH1994PLC078799	MERTZ ESTATES LIMITED	Director	22/09/2007	04/01/2007	01/12/2008	Active	NO
18	U45200GJ1999PTC081436	MGN AGRO PROPERTIES PRIVATE LIMITED	Director	13/03/2007	13/03/2007	-	Active	NO
19	U45200GJ2007PLC064986	ALSPUN INFRASTRUCTURE LIMITED	Director	07/04/2007	07/04/2007	-	Active	NO
20	U25209MH1994PLC076875	GOODVALUE POLYPLAST LIMITED	Director	11/06/2007	11/06/2007	01/12/2008	Amalgamated	NO
21	U51900MH1994PLC078026	VIPUNA TRADING LIMITED	Director	24/09/2007	12/06/2007	01/12/2008	Amalgamated	NO
22	L52100GJ2008PLC055195	WELSPUN INVESTMENTS AND COMMERCIALS LIMITED	Director	11/06/2009	10/11/2008	16/12/2009	Active	NO
23	L51100GJ2000PLC037204	WELSPUN GLOBAL BRANDS LIMITED	Director	01/04/2011	10/11/2008	-	Amalgamated	NO
24	U17120MH1967PLC013669	CONFEDERATION OF INDIAN TEXTILE INDUSTRY	Director	12/12/2008	12/12/2008	28/09/2010	Active	NO
25	U41000MH2009NPL194289	WEL-TREAT ENVIRO MANAGEMENT ORGANISATION	Director	22/07/2009	22/07/2009	17/11/2010	Active	NO
26	U72200GJ2001PLC039513	WELSPUN TRADINGS LIMITED	Additional director	04/03/2010	04/03/2010	19/07/2010	Active	NO
27	L25209DN1985PLC000162	NILKAMAL LIMITED	Additional director	01/08/2010	01/08/2010	30/07/2011	Active	NO
28	U45400MH2007PLC170350	WELSPUN INFRATECH LIMITED	Director	29/08/2011	18/04/2011	30/09/2014	Amalgamated	NO
29	U27100GJ2008PLC064145	JSW STEEL (SALAV) LIMITED	Director	14/09/2012	02/11/2011	31/10/2014	Active	NO
30	L27100GJ1993PLC020358	RMG ALLOY STEEL LIMITED	Director	07/11/2011	07/11/2011	09/08/2012	Active	NO
31	U25200GJ2005PTC046696	ANGEL POWER AND STEEL PRIVATE LIMITED	Director	29/09/2012	21/11/2011	-	Active	NO
32	L45201GJ1994PLC023920	WELSPUN ENTERPRISES LIMITED	Director	28/09/2012	06/07/2012	-	Active	NO
33	U71210GJ2004PLC045144	WELSPUN GLOBAL BRANDS LIMITED	Director	31/12/2012	07/12/2012	-	Active	NO
34	U40103MH2009PTC197021	WELSPUN RENEWABLES ENERGY PRIVATE LIMITED	Director	17/11/2014	01/04/2014	-	Active	NO
35	U91110MH1954NPL009385	THE COTTON TEXTILES EXPORT PROMOTION COUNCIL	Director	13/09/2014	13/09/2014	-	Active	NO

Name :

Mr. Ram Gopal Sharma

Designation :

Director

Address :

E-707, Military Road, Off Marol Maroshi Road, Lok Sarita Building, Andheri (East), Mumbai – 400 059, Maharashtra, India

Date of Birth/Age :

11.09.1940

Qualification :

B. Com, M.A (Economics)

Date of Appointment :

30.09.2014

DIN No.:

00026514

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	L27100GJ1995PLC025609	WELSPUN CORP LIMITED	Director	25/09/2014	30/10/2004	-	Active	NO
2	U27109GJ2004PLC044249	WELSPUN STEEL LIMITED	Director	30/09/2014	10/05/2006	-	Active	NO
3	L17110GJ1985PLC033271	WELSPUN INDIA LIMITED	Director	25/09/2014	25/08/2008	-	Active	NO
4	L27100GJ1993PLC020358	RMG ALLOY STEEL LIMITED	Director	29/04/2009	29/04/2009	07/02/2013	Active	NO
5	U67120WB1951GOI020023	ALLBANK FINANCE LIMITED	Director	30/07/2009	30/07/2009	26/08/2011	Active	NO
6	U27100GJ2008PLC064145	JSW STEEL (SALAV) LIMITED	Director	14/09/2012	16/08/2011	31/10/2014	Active	NO
7	U72200GJ2001PLC039513	WELSPUN TRADINGS LIMITED	Director	25/09/2014	29/05/2013	-	Active	NO
8	L51101GJ2012PLC072578	WELSPUN ENTERPRISES LIMITED	Director	30/09/2014	21/02/2014	-	Amalgamated	NO
9	U51909GJ2002PTC041136	WELSPUN ENERGY PRIVATE LIMITED	Director	30/09/2014	10/06/2014	-	Active	NO
10	L45201GJ1994PLC023920	WELSPUN ENTERPRISES LIMITED	Additional director	29/05/2015	29/05/2015	-	Active	NO

Name :

Apurba Kumar Dasgupta

Designation :

Director

Address :

Bunglow No.10, Ipshita, Dreamland Co-operative Society, Near Diamond Gardens, Aloycious Soares Marg, Mumbai – 400 071, Maharashtra, India

Date of Appointment :

30.09.2014

DIN No.:

00043075

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	U67120MH1980PLC023532	WADIA INVESTMENTS LIMITED	Director	05/12/1980	05/12/1980	15/12/2008	Active	NO
2	U51900MH1944PLC004225	NOWROSJEE WADIA AND SONS LIMITED	Director	29/04/1981	29/04/1981	15/12/2008	Active	NO
3	U29260MH1957PLC010955	B R T LIMITED	Director	25/08/1981	25/08/1981	15/12/2008	Active	NO
4	U99999MH1946PLC004840	N W EXPORTS LIMITED	Director	27/04/1984	27/04/1984	15/12/2008	Active	NO
5	U65990MH1983PLC031125	KALABAKAN INVESTMENTS COMPANY LIMITED	Director	27/07/1984	27/07/1984	21/08/2008	Amalgamated	NO
6	U51900MH1962PTC012309	NEVILLE WADIA PRIVATE LIMITED	Director	22/03/1988	22/03/1988	15/12/2008	Active	NO
7	U74140MH1984PLC032697	PERMAN PROJECT SUPPORTS LIMITED	Director	09/09/1988	09/09/1988	15/12/2008	Amalgamated	NO
8	U65993MH1988PLC048795	DAMASCUS INVESTMENT AND TRADING COMPANY LIMITED	Director	16/09/1988	16/09/1988	21/08/2008	Amalgamated	NO
9	L17112KA1985PLC006647	HIMATSINGKA SEIDE LIMITED.	Director	24/01/2002	24/01/2002	12/08/2013	Active	NO
10	U74220MH1960PLC011691	WADIA TECHNO - ENGINEERING SERVICES LIMITED	Director	01/06/2004	01/06/2004	15/12/2008	Active	NO
11	L17110GJ1985PLC033271	WELSPUN INDIA LIMITED	Director	25/09/2014	29/06/2004	-	Active	NO
12	L55101MH1981PLC024097	HOTEL LEELAVENTURE LIMITED	Additional director	21/06/2007	21/06/2007	20/09/2013	Active	NO
13	U45200MH2007PTC172150	MIG (BANDRA) REALTORS AND BUILDERS PRIVATE LIMITED	Director	06/07/2007	06/07/2007	18/08/2008	Active	NO
14	U70102MH2007PTC175410	BDS URBAN INFRASTRUCTURES PRIVATE LIMITED	Director	26/10/2007	26/10/2007	26/08/2008	Active	NO
15	U55101MH1996PTC180473	CHARTERED HOTELS PRIVATE LIMITED	Director	02/05/2008	02/05/2008	-	Active	NO
16	L45201GJ1994PLC023920	WELSPUN ENTERPRISES LIMITED	Director	30/09/2014	13/08/2010	-	Active	NO
17	U51909GJ2002PTC041136	WELSPUN ENERGY PRIVATE LIMITED	Director	30/09/2014	22/01/2014	-	Active	NO
18	L51101GJ2012PLC072578	WELSPUN ENTERPRISES LIMITED	Director	30/09/2014	21/02/2014	-	Amalgamated	NO
19	U27109GJ2004PLC044249	WELSPUN STEEL LIMITED	Director	30/09/2014	19/05/2014	-	Active	NO
20	U11201GJ2006PTC064142	WELSPUN NATURAL RESOURCES PRIVATE LIMITED	Additional director	30/09/2014	30/09/2014	-	Active	NO
21	U45400MH2007PLC170350	WELSPUN INFRATECH LIMITED	Additional director	30/09/2014	30/09/2014	-	Amalgamated	NO
22	U25209MH1982PTC027043	WELSPUN PLASTICS PRIVATE LIMITED	Additional director	30/09/2014	30/09/2014	-	Amalgamated	NO
23	U40100GJ2010PLC060502	WELSPUN CAPTIVE POWER GENERATION LIMITED	Additional director	31/03/2015	31/03/2015	-	Active	NO

Name :

Mr. Balkrishan Gopiram Goenka

Designation :

Director

Address :

Rocky Isle 46/C, Bhulabhai Desai Road, Breach Candy, Mumbai – 400 026, Maharashtra, India

Date of Birth/Age :

15.08.1965

Qualification :

B. Com

PAN No. :

AEOPG4891D

Date of Appointment :

03.06.2004

DIN No.:

00270175

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	L17110GJ1985PLC033271	WELSPUN INDIA LIMITED	Director	05/08/2011	17/01/1985	-	Active	NO
2	L99999DN1983PLC000045	WELSPUN SYNTEX LIMITED	Director	16/07/1991	16/07/1991	-	Active	NO
3	L65910DL1987PLC019341	WELSPUN FINANCE LIMITED	Director	16/04/1992	16/04/1992	15/06/2007	Active	NO
4	L27100GJ1995PLC025609	WELSPUN CORP LIMITED	Director	14/08/2012	26/04/1995	-	Active	NO
5	U18101MH1997PLC107982	WELSPUN ZUCCHI TEXTILES LIMITED	Director	13/05/1997	13/05/1997	20/05/2007	Active	NO
6	U17120GJ1985PTC056127	WELSPUN WINTEX LIMITED	Director	25/11/2002	25/11/2002	10/02/2010	Active	NO
7	U65910GJ1982PTC055383	WELSPUN FINTRADE PRIVATE LIMITED	Director	26/12/2002	26/12/2002	25/03/2011	Active	NO
8	U70100GJ1989PLC056345	WELSPUN MERCANTILE LIMITED	Director	26/12/2002	26/12/2002	25/03/2011	Active	NO
9	U65990GJ1992PLC050965	KRISHIRAJ TRADING LIMITED	Director	26/12/2002	26/12/2002	21/04/2010	Active	NO
10	U25209MH1994PLC076875	GOODVALUE POLYPLAST LIMITED	Director	24/03/2003	24/03/2003	11/06/2007	Amalgamated	NO
11	U51900MH1994PLC078026	VIPUNA TRADING LIMITED	Director	24/03/2003	24/03/2003	12/06/2007	Amalgamated	NO
12	U70102MH1994PLC078799	MERTZ ESTATES LIMITED	Director	13/02/2004	13/02/2004	04/01/2007	Active	NO
13	U27109GJ2004PLC044249	WELSPUN STEEL LIMITED	Director	03/06/2004	03/06/2004	-	Active	NO
14	U74899GJ1987PTC081126	GOLDENARCH ESTATES PRIVATE LIMITED	Director	18/02/2005	18/02/2005	31/03/2011	Active	NO
15	U51909GJ2002PTC041136	WELSPUN ENERGY PRIVATE LIMITED	Director	29/09/2010	07/06/2006	-	Active	NO
16	U70200MH1998PLC117426	WELSPUN DEVELOPERS AND INFRASTRUCTRE LIMITED	Director	05/08/2006	05/08/2006	-	Amalgamated	NO
17	U22210GJ1995PLC027871	WELSPUN ANJAR SEZ LIMITED	Director	16/08/2006	16/08/2006	21/05/2009	Active	NO
18	U11201GJ2006PTC064142	WELSPUN NATURAL RESOURCES PRIVATE LIMITED	Director	07/09/2006	07/09/2006	20/11/2008	Active	NO
19	U63012MH2006PLC165280	WELSPUN LOGISTICS LIMITED	Director	30/09/2010	30/10/2006	-	Active	NO
20	U40109MH2006PLC165964	WELSPUN URJA INDIA LIMITED	Director	29/09/2012	04/12/2006	31/03/2015	Active	NO
21	U26960MH2007PTC167560	GIANT REALTY PRIVATE LIMITED	Director	05/02/2007	05/02/2007	-	Active	NO
22	U70109MH2007PTC168489	WELSPUN REALTY PRIVATE LIMITED	Director	08/03/2007	08/03/2007	05/11/2007	Active	NO
23	U45200GJ1999PTC081436	MGN AGRO PROPERTIES PRIVATE LIMITED	Director	13/03/2007	13/03/2007	-	Active	NO
24	U45200GJ2007PLC064986	ALSPUN INFRASTRUCTURE LIMITED	Director	07/04/2007	07/04/2007	14/10/2011	Active	NO
25	U40100GJ2005PLC046554	ADANI WELSPUN EXPLORATION LIMITED	Director	29/09/2007	27/04/2007	-	Active	NO
26	U40108MH2007PTC170611	WELSPUN ENERGY ANUPPUR PRIVATE LIMITED	Director	29/09/2012	07/05/2007	-	Active	NO
27	U27108MH2007PLC171855	WELSPUN PIPES LIMITED	Director	20/06/2007	20/06/2007	15/01/2010	Active	NO
28	U45400OR2007PTC015831	WELSPUN ORISSA STEEL PRIVATE LIMITED	Director	01/09/2008	01/09/2008	21/07/2009	Active	NO
29	L52100GJ2008PLC055195	WELSPUN INVESTMENTS AND COMMERCIALS LIMITED	Director	07/10/2008	07/10/2008	08/11/2011	Active	NO
30	L51100GJ2000PLC037204	WELSPUN GLOBAL BRANDS LIMITED	Director	11/06/2009	10/11/2008	-	Amalgamated	NO
31	L27100GJ1993PLC020358	RMG ALLOY STEEL LIMITED	Additional director	15/11/2008	15/11/2008	07/11/2011	Active	NO
32	U27100GJ2008PLC064145	JSW STEEL (SALAV) LIMITED	Director	27/08/2012	22/05/2009	31/10/2014	Active	NO
33	U14220MH1989PTC050290	REFINED SALTS PRIVATE LIMITED	Director	21/07/2009	21/07/2009	31/01/2013	Active	NO
34	U27109GJ2009PTC055893	WELSPUN STEEL RESOURCES PRIVATE LIMITED	Director	24/07/2009	24/07/2009	15/01/2010	Active	NO
35	L45201GJ1994PLC023920	WELSPUN ENTERPRISES LIMITED	Director	29/05/2015	27/04/2010	-	Active	NO
36	U45400MH2007PLC170350	WELSPUN INFRATECH LIMITED	Director	29/08/2011	18/04/2011	30/09/2014	Amalgamated	NO
37	U99999MH1998FTC117187	LEIGHTON INDIA CONTRACTORS PRIVATE LIMITED	Director	05/03/2013	28/04/2011	17/09/2013	Active	NO
38	U40300MH2009PLC197014	WELSPUN ENERGY MADHYA PRADESH LIMITED	Director	29/09/2012	15/10/2011	-	Active	NO
39	U71210GJ2004PLC045144	WELSPUN GLOBAL BRANDS LIMITED	Director	31/12/2012	07/12/2012	-	Active	NO
40	L51101GJ2012PLC072578	WELSPUN ENTERPRISES LIMITED	Director	30/09/2014	21/02/2014	-	Amalgamated	NO
41	U40103MH2009PTC197021	WELSPUN RENEWABLES ENERGY PRIVATE LIMITED	Director	17/11/2014	01/04/2014	-	Active	NO

Name :

Mr. Anuj Burakia

Designation :

Whole-time Director

Address :

B-108, NU-10B, Shakti Nagar, Gandhidham – 370 201, Gujarat, India

Date of Birth/Age :

27.06.1979

Qualification :

C.A

PAN No. :

AGCPB8871E

Date of Appointment :

01.01.2015

DIN No.:

02840211

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	U27108MH2007PLC171855	WELSPUN PIPES LIMITED	Director	20/08/2010	01/11/2009	-	Active	NO
2	U25200GJ2005PTC046696	ANGEL POWER AND STEEL PRIVATE LIMITED	Additional director	02/05/2010	02/05/2010	31/07/2010	Active	NO
3	U27109GJ2009PTC055893	WELSPUN STEEL RESOURCES PRIVATE LIMITED	Director	14/07/2010	01/06/2010	-	Active	NO
4	U27109GJ2004PLC044249	WELSPUN STEEL LIMITED	Whole-time director	01/01/2015	01/08/2011	-	Active	NO
5	U22210GJ1995PLC027871	WELSPUN ANJAR SEZ LIMITED	Director	25/09/2012	28/10/2011	-	Active	NO
6	U40100GJ2010PLC060502	WELSPUN CAPTIVE POWER GENERATION LIMITED	Director	24/09/2013	30/03/2013	-	Active	NO
7	U14298MH2010PTC209181	WELSPUN MINERAL RESOURCES PRIVATE LIMITED	Director	30/09/2013	13/04/2013	-	Active	NO
8	U51909GJ2013PTC076194	WS TRADING AND HOLDING PRIVATE LIMITED	Director	30/09/2014	26/07/2013	-	Active	NO
9	U27100GJ2014PTC080182	WS ALLOY HOLDING PRIVATE LIMITED	Director	21/07/2014	21/07/2014	-	Active	NO
10	U27100MH2010PTC209131	WELSPUN IRON AND STEEL PRIVATE LIMITED	Additional director	03/02/2015	03/02/2015	-	Active	NO

Name :

Ms. Khushboo Abhishek Mandawewala

Designation :

Director

Address :

B-161/171, Tanna Residency, Bay View, 392-Veer Savarkar Marg, Prabhadevi, Mumbai – 400 025, Maharashtra, India

Date of Appointment :

30.09.2014

DIN No.:

06942156

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	U40100GJ2010PLC060502	WELSPUN CAPTIVE POWER GENERATION LIMITED	Director	30/09/2014	29/07/2014	-	Active	NO
2	U72200GJ2001PLC039513	WELSPUN TRADINGS LIMITED	Director	25/09/2014	06/08/2014	-	Active	NO
3	U27109GJ2004PLC044249	WELSPUN STEEL LIMITED	Director	30/09/2014	07/08/2014	-	Active	NO
4	U18101MH1997PLC107982	WELSPUN ZUCCHI TEXTILES LIMITED	Additional director	31/03/2015	31/03/2015	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Narendra Kumar Bhandari
Designation :	Chief Financial Officer
Address :	E-1004, Ashok Gardens, T.J. Road, Near Sewri Naka, Mumbai – 400 015, Maharashtra, INDIA
Date of Appointment :	03.12.2014
PAN No.:	AHFPB0570L
Name :	Ms. Rashmi Dinesh Mamtura
Designation :	Secretary
Address :	B-2, Ekvira Niwas, P.G. Marg, Bhandar Wada, Malad (West), Mumbai – 400 064, Maharashtra, India
Date of Appointment :	13.10.2011
PAN No.:	BAHPM5142B

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

Names of Shareholders	No. of Shares
Krishiraj Trading Limited, India	54350100
Welspun Finance Limited, India	10000
Welspun Mercantile Limited, India	6659600
Welspun Fintrade Limited, India	40950000
Welspun Wintex Limited, India	2120000
Goldenarch Estates Private Limited, India	1000000
Welspun Investments and Commercials, India	5000000
Welspun Zucchi Textiles Limited, India	100
Welspun Syntex Limited, India	100
Welspun India Limited, India	100
Total	110090000

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2014

Category	Percentage of holding
Bodies corporate	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in the business of manufacturing of ribbed thermo mechanically treated rebars, sponge iron, and ingots/billets.

Products :

Product Description	ITC Code No.
Sponge Iron	72031000
MS ingot	72061090
TMT Bar	72131090
MS Steel Billets and Alloy Billets	72071920

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Selling :

Not Divulged

Purchasing :

Not Divulged

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Payment Behaviour	Market Goodwill	Overall
Not Divulged	Not Divulged	Not Divulged

Remark:

Not Divulged

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Product Quality	Delivery Behaviour	Overall
Not Divulged	Not Divulged	Not Divulged

Remark:

Not Divulged

No. of Employees :

Information declined by the Management.

Bankers :

Banker Name	Standard Chartered Bank
Branch Address	Abhijeet II, Ground Floor, Near Mithakali Six Roads, Ahmedabad – 380 006, Gujarat, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

• Andhra Bank, 16B, 16^th Floor, Earnest House, 194, NCPA Marg, Nariman Point, Mumbai – 400 021, Maharashtra, India
• Punjab National Bank, IIIACO House, Sir P.M. Road, Fort, Mumbai – 400 001, Maharashtra, India
• Axis Bank Limited
• ICICI Bank Limited, Landmark Race Cource Circle, Alkapuri, Vadodara – 390 015, Gujarat, India
• State Bank of Saurastra
• Yes Bank Limited
• State Bank of Travnacore
• State Bank of Indore
• State Bank of Patiala
• IDBI Bank Limited
• State Bank of Bikaner and Jaipur
• Kotak Mahindra Bank Limited
• United Bank of India
• Vijaya Bank
• Indusind Bank Limited

Facilities :

SECURED LOANS	31.03.2014 Rs. In Million	31.03.2013 Rs. In Million
LONG TERM BORROWINGS
Rupee term loan from bank	1750.000	2025.000
Foreign currency term loan from bank	149.788	271.425
SHORT TERM BORROWINGS
Loans repayable on demand from bank	244.551	271.513
Total	2144.339	2567.938

Banking Relations :	--
Auditors :
Name :	Suresh Surana and Associates Chartered Accountants
Address :	B-301 Mehvish Tower Patel Complex Mira Village Mira Road (East), District Thane Mira Road, Thane– 401104, Maharashtra, India
Income-tax PAN of auditor or auditor's firm :	ABAPV2006L
Memberships :	Not Available
Collaborators :	Not Available
Subsidiary Companies :	Welspun Orissa Steel Private Limited (upto 27.12.2013) (CIN No.: U45400OR2007PTC015831) WS Trading and Holding Private Limited (w.e.f. 26.07.2013) (CIN No.: U51909GJ2013PTC076194) PT. Batubara Energy Indonesia (upto 22.07.2013) PT. Bangun Energy Indonesia (upto 22.07.2013)
Associates :	Welspun Captive Power Generation Limited (CIN No.: U40100GJ2010PLC060502) RMG Alloy Steel Limited (formerly known as Remi Metals Gujarat Limited) (CIN No. :L27100GJ1993PLC020358) Welspun Natural Resources (Australia) Pty. Limited (w.e.f. 30 March 2013) (upto 30 March 2014)
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	Welspun India Limited (CIN No.: L17110GJ1985PLC033271) Welspun Corp Limited (CIN No.: L27100GJ1995PLC025609) Welspun Syntex Limited (CIN No.: L99999DN1983PLC000045) Welspun Fintrade Private Limited (CIN No.: U65910GJ1982PTC055383) Welspun Logistics Limited (CIN No.: U63012MH2006PLC165280) Krishiraj Trading Limited (CIN No.: U65990GJ1992PLC050965) Welspun Projects Limited (CIN No.: L45201GJ1994PLC023920) Welspun Energy Private Limited (CIN No.: U51909GJ2002PTC041136) Welspun Maxsteel Limited (CIN No.: U27100GJ2008PLC064145) Welspun Steel Resources Private Limited (CIN No.: U27109GJ2009PTC055893) Welspun Wintex Limited (CIN No.: U17120GJ1985PTC056127) Welspun Tradings Limited (CIN No.: U72200GJ2001PLC039513) Welspun Mineral Resources Private Limited Welspun Guinea SA Welspun Orissa Steel Private Limited (w.e.f. 28.12.2013) Welspun Captive Power Generation Limited (w.e.f. 02.04.2013)

CAPITAL STRUCTURE

AFTER 30.09.2014

Authorised Capital : Rs.1500.000 million

Issued, Subscribed & Paid-up Capital : Rs.1297.900 million

AS ON 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
150000000	Equity Shares	Rs.10/- each	Rs.1500.000 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
110090000	Equity Shares	Rs.10/- each	Rs.1100.900 million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	1100.900	1100.900	590.960
(b) Reserves & Surplus	8100.500	8454.042	6789.225
(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)	9201.400	9554.942	7380.185
(3) Non-Current Liabilities
(a) long-term borrowings	1899.788	2996.425	2631.562
(b) Deferred tax liabilities (Net)	98.584	229.073	60.693
(c) Other long term liabilities	146.812	163.625	0.000
(d) long-term provisions	3.620	4.452	4.658
Total Non-current Liabilities (3)	2148.804	3393.575	2696.913
(4) Current Liabilities
(a) Short term borrowings	244.551	291.513	349.049
(b) Trade payables	2037.300	1772.445	1493.829
(c) Other current liabilities	452.202	1708.527	783.238
(d) Short-term provisions	0.640	0.638	15.051
Total Current Liabilities (4)	2734.693	3773.123	2641.167
TOTAL	14084.897	16721.640	12718.265
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	4065.441	3896.314	2072.200
(ii) Intangible Assets	2.000	0.338	0.309
(iii) Capital work-in-progress	148.892	380.422	227.861
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	6335.870	7998.739	6830.339
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	492.894	509.327	425.768
(e) Other Non-current assets	41.718	66.651	57.139
Total Non-Current Assets	11086.815	12851.791	9613.616
(2) Current assets
(a) Current investments	164.986	53.151	20.486
(b) Inventories	947.558	1260.295	1164.881
(c) Trade receivables	649.976	425.891	279.175
(d) Cash and cash equivalents	932.929	577.718	428.759
(e) Short-term loans and advances	703.713	1262.404	1122.933
(f) Other current assets	248.920	290.390	88.415
Total Current Assets	3648.082	3869.849	3104.649
TOTAL	14734.897	16721.640	12718.265

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2014	31.03.2013	31.03.2012
	SALES
		Revenue from operations		5257.606	4688.778	3034.169
		Other Income		117.791	498.519	100.615
		TOTAL (A)		5375.397	5187.297	3134.784
Less	EXPENSES
		Cost of Materials Consumed		3770.045	3314.270	2257.477
		Purchase of Stock-in-trade		23.731	260.652	0.000
		Changes in Inventories of finished goods, work-in-progress and stock-in-trade		(120.859)	(139.673)	127.786
		Employee Benefits Expenses		140.627	135.198	63.150
		Other Expenses		1418.152	816.029	282.430
		TOTAL (B)		5231.696	4386.476	2730.843
	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			143.701	800.821	403.941
Less	FINANCIAL EXPENSES (D)			399.370	628.760	216.272
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			(255.669)	172.061	187.669
Less	DEPRECIATION/ AMORTISATION (F)			147.794	122.333	53.937
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)			(403.463)	49.728	133.732
Less	TAX (H)			(114.331)	39.055	38.175
	PROFIT/(LOSS) AFTER TAX (G-H) (I)			(289.132)	10.673	95.557
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD			6799.899	6789.226	6693.669
	BALANCE CARRIED TO THE B/S			6510.767	6799.899	6789.226
	EARNINGS IN FOREIGN CURRENCY
			Export Earnings	1193.697	89.757	40.130
			Earnings on interest	26.014	26.053	12.861
	TOTAL EARNINGS			1219.711	115.810	52.991
	IMPORTS
			Raw Materials	2053.041	2900.051	1607.178
			Stores & Spares	3.846	1.389	5.951
			Capital Goods	0.000	26.951	0.000
	TOTAL IMPORTS			2056.887	2928.391	1613.129
	Earnings / (Loss) Per Share (Rs.)			(2.63)	0.17	1.62

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	149.788	360.713	127.188
Net cash flows from (used in) operations	598.050	330.314	925.764

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	(5.50)	0.23	3.15
Operating Profit Margin (PBIDT/Sales)	(%)	2.73	17.08	13.31
Return on Total Assets (PBT/Total Assets}	(%)	(4.89)	0.60	2.36
Return on Investment (ROI) (PBT/Networth)		(0.04)	0.01	0.02
Debt Equity Ratio (Total Debt /Networth)		0.25	0.38	0.42
Current Ratio (Current Asset/Current Liability)		1.33	1.03	1.18

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	590.960	1100.900	1100.900
Reserves & Surplus	6789.225	8454.042	8100.500
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	7380.185	9554.942	9201.400
Long-term borrowings	2631.562	2996.425	1899.788
Short term borrowings	349.049	291.513	244.551
Current maturities of long-term debts	127.188	360.713	149.788
Total borrowings	3107.799	3648.651	2294.127
Debt/Equity ratio	0.421	0.382	0.249

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Revenue from Operations	3034.169	4688.778	5257.606
		54.533	12.132

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Revenue from Operations	3034.169	4688.778	5257.606
Profit	95.557	10.673	(289.132)
	3.15%	0.23%	(5.50%)

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	No
8	Designation of contact person	No
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	Yes
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	No
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	Yes
32	Litigations that the firm/promoter involved in	Yes
33	Market information	--
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

LITIGATION DETAILS:

HIGH COURT OF GUJARAT

TAX APPEAL No. 252 of 2013

Status : PENDING

CCIN No : 001092201300252

Last Listing Date:

20/11/2014

Coram

· HONOURABLE MR.JUSTICE AKIL KURESHI · HONOURABLE MR.JUSTICE VIPUL M. PANCHOLI

S.NO.	Name of the Petitioner	Advocate On Record
1	STATE OF GUJARAT THROUGH COMMISSIONER OF	GOVERNMENT PLEADER for: Appellant(s) 1

S.NO.	Name of the Respondent	Advocate On Record
1	WELSPUN STEEL LIMITED	MR B S SOPARKAR for :Opponent(s) 1

Presented On	: 28/01/2013	Registered On	: 14/03/2013
Bench Category	: DIVISION BENCH	District	: SURAT
Case Originated From	: THROUGH HIS/HER/THEIR ADVOCATE	Listed	: 35 times
StageName	: FOR FINAL HEARING

Classification	· DB OJ MISC. CIVIL APPLICATION - CODE OF CIVIL PROCEDURE, 1908 - EXTENTION OF TIME / CLARIFICATION
Act	· SALES TAX ACT, 1969

Other Forums

S.No.	CASEDETAILS	TRIBUNAL REFERRENCE	ORDER PASSED BY	JUDGEMENT DATE	PLACE
1	FA 27/2010	GUJARAT VALUE ADDED TAX TRIBUNAL, AHMEDABAD	PRESIDENT & MEMBER	27/12/2011	SURAT
Office Details

S. No.	Filing Date	Document Name	Advocate Name	Court Fee on Document	Document Details
1	28/01/2013	VAKALATNAMA	GOVERNMENT PLEADER for PETITIONER(s) 1	5	GOVERNMENT PLEADER:1
2	28/01/2013	MEMO OF PETITION/APPEAL/SUIT	GOVERNMENT PLEADER for PETITIONER(s) 1	50	GOVERNMENT PLEADER:1
3	26/03/2013	VAKALATNAMA	MR B S SOPARKAR ADVOCATE for RESPONDENT(s) 1 , 1	5	MR B S SOPARKAR:1
Linked Matters

S. No.	Case Detail	Status Name	Disposal Date	Action/Coram
1	CIVIL APPLICATION (OJ)/185/2013	DISPOSED	08/08/2013	RULE ABSOLUTE/ALLOWED @ FH · HONOURABLE MR.JUSTICE M.R. SHAH · HONOURABLE MS JUSTICE SONIA GOKANI
Court Proceedings

S. No.	Notified Date	Court Code	Board Sr. No.	Stage	Action	Coram
1	15/03/2013	7	34	ADJOURNED MATTERS	NEXT DATE	· HONOURABLE MR.JUSTICE AKIL KURESHI · HONOURABLE MS JUSTICE SONIA GOKANI
2	05/04/2013	7	43	ADMISSION (FRESH MATTERS)	NEXT DATE	· HONOURABLE MR.JUSTICE AKIL KURESHI · HONOURABLE MS JUSTICE SONIA GOKANI
3	26/04/2013	7	45	ADJOURNED MATTERS	NEXT DATE	· HONOURABLE MR.JUSTICE AKIL KURESHI · HONOURABLE MS JUSTICE SONIA GOKANI
4	09/05/2013	7	38	ADJOURNED MATTERS	NEXT DATE	· HONOURABLE MR.JUSTICE AKIL KURESHI · HONOURABLE MS JUSTICE SONIA GOKANI
5	11/06/2013	5	35	ADJOURNED MATTERS	NEXT DATE	· HONOURABLE MR.JUSTICE M.R. SHAH · HONOURABLE MS JUSTICE SONIA GOKANI
6	21/06/2013	5	21	ADJOURNED MATTERS	NEXT DATE	· HONOURABLE MR.JUSTICE M.R. SHAH · HONOURABLE MS JUSTICE SONIA GOKANI
7	05/07/2013	5	29	ADJOURNED MATTERS	NEXT DATE	· HONOURABLE MR.JUSTICE M.R. SHAH · HONOURABLE MS JUSTICE SONIA GOKANI
8	26/07/2013	5	14	ADJOURNED MATTERS	NEXT DATE	· HONOURABLE MR.JUSTICE M.R. SHAH · HONOURABLE MS JUSTICE SONIA GOKANI
9	01/08/2013	5	19	ADJOURNED MATTERS	NEXT DATE	· HONOURABLE MR.JUSTICE M.R. SHAH · HONOURABLE MS JUSTICE SONIA GOKANI
10	08/08/2013	5	32	ADJOURNED MATTERS	FIXED RULE / ADMIT	· HONOURABLE MR.JUSTICE M.R. SHAH · HONOURABLE MS JUSTICE SONIA GOKANI
11	19/09/2013	5	47	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE M.R. SHAH · HONOURABLE MS JUSTICE SONIA GOKANI
12	10/10/2013	5	47	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE M.R. SHAH · HONOURABLE MS JUSTICE SONIA GOKANI
13	21/11/2013	5	73	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE M.R. SHAH · HONOURABLE MR.JUSTICE R.P.DHOLARIA
14	18/12/2013	5	79	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE M.R. SHAH · HONOURABLE MR.JUSTICE R.P.DHOLARIA
15	16/01/2014	7	49	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE M.R. SHAH · HONOURABLE MR.JUSTICE AKIL KURESHI and HONOURABLE MS JUSTICE SONIA GOKANI and HONOURABLE MR.JUSTICE R.P.DHOLARIA
16	06/02/2014	7	25	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE AKIL KURESHI · HONOURABLE MS JUSTICE SONIA GOKANI
17	07/03/2014	7	34	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE AKIL KURESHI · HONOURABLE MS JUSTICE SONIA GOKANI
18	28/03/2014	7	39	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE AKIL KURESHI · HONOURABLE MS JUSTICE SONIA GOKANI
19	11/04/2014	7	48	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE AKIL KURESHI · HONOURABLE MS JUSTICE SONIA GOKANI
20	02/05/2014	7	34	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE AKIL KURESHI · HONOURABLE MS JUSTICE SONIA GOKANI
21	20/06/2014	5	35	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE M.R. SHAH · HONOURABLE MR.JUSTICE AKIL KURESHI and HONOURABLE MS JUSTICE SONIA GOKANI and HONOURABLE MR.JUSTICE K.J.THAKER
22	27/06/2014	5	74	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE M.R. SHAH · HONOURABLE MR.JUSTICE K.J.THAKER
23	04/07/2014	5	42	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE M.R. SHAH · HONOURABLE MR.JUSTICE K.J.THAKER
24	11/07/2014	5	56	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE M.R. SHAH · HONOURABLE MR.JUSTICE K.J.THAKER
25	25/07/2014	5	37	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE M.R. SHAH · HONOURABLE MR.JUSTICE K.J.THAKER
26	07/08/2014	5	44	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE M.R. SHAH · HONOURABLE MR.JUSTICE K.J.THAKER
27	21/08/2014	10	56	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE M.R. SHAH · HONOURABLE MS.JUSTICE HARSHA DEVANI and HONOURABLE MS JUSTICE SONIA GOKANI and HONOURABLE MR.JUSTICE K.J.THAKER
28	28/08/2014	10	61	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MS.JUSTICE HARSHA DEVANI · HONOURABLE MS JUSTICE SONIA GOKANI
29	04/09/2014	10	72	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MS.JUSTICE HARSHA DEVANI · HONOURABLE MS JUSTICE SONIA GOKANI
30	11/09/2014	10	70	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MS.JUSTICE HARSHA DEVANI · HONOURABLE MS JUSTICE SONIA GOKANI
31	18/09/2014	10	68	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MS.JUSTICE HARSHA DEVANI · HONOURABLE MS JUSTICE SONIA GOKANI
32	25/09/2014	10	63	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MS.JUSTICE HARSHA DEVANI · HONOURABLE MS JUSTICE SONIA GOKANI
33	09/10/2014	6	70	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE AKIL KURESHI · HONOURABLE MS.JUSTICE HARSHA DEVANI and HONOURABLE MS JUSTICE SONIA GOKANI and HONOURABLE MR.JUSTICE VIPUL M. PANCHOLI
34	20/11/2014	6	85	FOR FINAL HEARING	NEXT DATE NOT GIVEN	· HONOURABLE MR.JUSTICE AKIL KURESHI · HONOURABLE MR.JUSTICE VIPUL M. PANCHOLI
Available Orders

S. No.	Case Details	Judge Name	Order Date	CAV	Judgement	Questions	Transferred
1	TAX APPEAL/252/2013	· HONOURABLE MR.JUSTICE M.R. SHAH · HONOURABLE MS JUSTICE SONIA GOKANI	08/08/2013	N	ORDER	-	Y
2	TAX APPEAL/251/2013	· HONOURABLE MR.JUSTICE M.R. SHAH · HONOURABLE MR.JUSTICE K.J.THAKER	27/06/2014	N	ORDER	-	Y

UNSECURED LOANS:

Particulars	31.03.2014 Rs. In Million	31.03.2013 Rs. In Million
LONG TERM BORROWINGS
Debenture	0.000	700.000
SHORT TERM BORROWINGS
Loans repayable on demand from other	0.000	20.000
Total	0.000	720.000

INDEX OF CHARGES:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10547773	16/01/2015	2,732,589,000.00	BANK OF BARODA	RAS AL KHAIMAH BRANCH, P.O BOX.5294, RAS AL KHAIMAH, RAS AL KHAIMAH, - 5294, UNITED ARAB EMIRATES	C42874834
2	10543808	05/01/2015	50,000,000.00	ANDHRA BANK	16B, 16TH FLOOR, EARNEST HOUSE, 194, NCPA MARG, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA	C40824955
3	10496320	05/05/2014	500,000,000.00	ICICI BANK LIMITED	LANDMARK RACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA	C04990008
4	10481939	20/02/2014	500,000,000.00	ICICI BANK LIMITED	LANDMARK RACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA	B98252034
5	10412421	11/02/2013	550,000,000.00	STANDARD CHARTERED BANK	ABHIJEET II, GROUND FLOOR,, NEAR MITHAKALI SIX ROADS, AHMEDABAD, GUJARAT - 380006, INDIA	B70993001
6	10391122	26/11/2012 *	2,250,000,000.00	ICICI BANK LIMITED	LANDMARK RACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA	B65694978
7	10297842	25/08/2012 *	2,250,000,000.00	ICICI BANK LIMITED	LANDMARK RACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA	B60210085
8	10269499	17/09/2014 *	600,000,000.00	STANDARD CHARTERED BANK	ABHIJEET II, GROUND FLOOR, NEAR MITHAKALI SIX ROADS, AHMEDABAD, GUJARAT - 380006, INDIA	C23515448
9	80011715	25/06/2013 *	2,670,120,000.00	SBICAP TRUSTEE COMPANY LIMITED	202, MAKER TOWER, 'E', CUFFE PARADE, COLABA, MUMBAI, MAHARASHTRA - 400005, INDIA	B80248529
10	80011728	25/06/2013 *	2,670,120,000.00	SBICAP TRUSTEE COMPANY LIMITED	202, MAKER TOWER, 'E', CUFFE PARADE,, COLABA, MUMBAI, MAHARASHTRA - 400005, INDIA	B80078538

*Date of modification Charges

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

CMT REPORT (Corruption, Money Laundering & Terrorism]

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

1] INFORMATION ON DESIGNATED PARTY

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

2] Court Declaration :

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

3] Asset Declaration :

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

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

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

Charges or investigation registered against subject: None

7] Criminal Records

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

8] Affiliation with Government :

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

9] Compensation Package :

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

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

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

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

CONTRAVENTION

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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.58
UK Pound	1	Rs.99.11
Euro	1	Rs.70.29

INFORMATION DETAILS

Analysis Done by :	KAR
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	5
--PROFITABILITY	1~10	-
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	6
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		44

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.