MIRA INFORM REPORT

Report No. :	333579
Report Date :	28.07.2015

IDENTIFICATION DETAILS

Name :	GMR INFRASTRUCTURE LIMITED
Registered Office :	25/1, Skip House, Museum Road, Bangalore – 560025, Karnataka
Tel. No.:	91-80-40534000
Country :	India
Financials (as on) :	31.03.2015
Date of Incorporation :	10.05.1996
Com. Reg. No.:	08-034805
Capital Investment / Paid-up Capital :	Rs.15728.000 Million
CIN No.: [Company Identification No.]	L45203KA1996PLC034805
TAN No.: [Tax Deduction & Collection Account No.]	BLRG6010E
PAN No.: [Permanent Account No.]	AABCG8889P
Legal Form :	A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.
Line of Business :	Subject is engaged in development of various infrastructure projects in power and transportation sectors through several special purpose vehicles.
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

Maximum Credit Limit :	USD 300000000
Status :	Satisfactory
Payment Behaviour :	Slow but Correct
Litigation :	Clear
Comments :	Subject is 70.28% held by “GMR Holdings Private Limited’ is the holding company for the infrastructure business of the “GMR group” which is a leading business house having significant interest in the infrastructure Sector viz. Airport, Power, Road etc. It is well established company having satisfactory track record. During financial year 2015, the company reported low operational performance marked by losses from its activities. The ratings continue to be constrained by risks associates with various projects under implementation with significant investment outlay. The above ratings however continue to derive strength from the group’s diversified portfolio of assets, established track record in project execution backed by decent capital structure, comfortable leverage and above an average debt coverage indicators. Trade relations are fair. Business is active. Payments are reported to be slow but correct. In view of strong support from its holdings company, 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 – 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	December 2014

Rating Agency Name	CARE
Rating	Short Term Bank Facilities=A3+
Rating Explanation	Moderate degree of safety and higher credit risk.
Date	December 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 31-03-2013.

INFORMATION DENIED BY

Name :	Mr. Madhva B. Terdal
Designation :	Chief Financial Officer
Contact No.:	91-80-40432000
Date :	24.07.2015

LOCATIONS

Registered Office :	25/1, Skip House, Museum Road, Bangalore – 560025, Karnataka, India
Tel. No.:	91-80-40534000
Fax No.:	91-80-22279353
E-Mail :	sounderarajan.cp@gmrgroup.in info@gmgroup.in mailto:info@gmgroup.in
Website :	http://www.gmrgroup.in
Corporate Office :	IBC Knowledge Park, Phase 2, “D” Block, 9^th Floor, 4/1, Bannerghatta Road, Bangalore – 560 029, Karnataka, India
Tel. No.:	91-80-40432000
Fax No.:	91 80 40432180
E-Mail :	info@gmrgroup.in
Regional Office :	Located at: New Delhi Himachal Pradesh Bhubaneswar Uttarakhand Chandigarh Mumbai Bangalore Mangalore Chennai Villupuram Chengalpattu Srikakulam East Godavari Visakhapatnam Ranga Reddy Hyderabad
International Office :	Located at: Nepal Turkey London Singapore

DIRECTORS

As on 31.03.2014

Name :

Mr. Grandhi Kiran Kumar

Designation :

Managing Director

Date of Appointment :

28.07.2013

DIN No.:

00061669

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	L45203KA1996PLC034805	GMR INFRASTRUCTURE LIMITED	Managing director	28/07/2013	05/12/1999	-	Active	NO
2	U72200KA1993PTC030645	IDEASPACE SOLUTIONS Private Limited	Director	04/08/2001	04/08/2001	19/08/2009	Active	NO
3	U45203KA2001PLC049329	GMR TAMBARAM TINDIVANAM EXPRESSWAYS LIMITED	Director	01/09/2001	01/09/2001	30/03/2012	Active	NO
4	U45203KA2001PLC049328	GMR TUNI-ANAKAPALLI EXPRESSWAYS LIMITED	Director	01/09/2001	01/09/2001	30/03/2012	Active	NO
5	U62100TG2002PLC040118	GMR HYDERABAD INTERNATIONAL AIRPORT LIMITED	Director	23/01/2012	29/10/2003	-	Active	NO
6	L28100KA1986PLC049077	Parrys Sugar Industries Limited	Director	26/05/2004	26/05/2004	30/07/2007	Active	NO
7	U80301AP2003NPL042195	GMR VARALAKSHMI FOUNDATION	Director	29/06/2004	29/06/2004	-	Active	NO
8	U62100TG2005PTC045123	GATEWAYS FOR INDIA AIRPORTS PRIVATE LIMITED	Director	12/01/2005	12/01/2005	07/11/2009	Active	NO
9	U67120MH1993PTC207451	GMR HOLDINGS PRIVATE LIMITED	Director	05/08/2005	08/05/2005	-	Active	NO
10	U63033DL2006PTC146936	Delhi International Airport Private Limited	Whole-time director	01/04/2014	19/04/2006	-	Active	NO
11	U62100TG2006PTC049243	Hyderabad Menzies Air Cargo Private Limited	Director	05/06/2006	05/06/2006	07/02/2007	Active	NO
12	U70100KA2009PTC049046	GKR Holdings Private Limited	Director	04/02/2009	04/02/2009	-	Active	NO
13	U45201TG2008PLC067141	GMR AEROSPACE ENGINEERING LIMITED	Director	25/09/2009	26/04/2009	31/01/2012	Active	NO
14	U52599DL2009PTC191963	DELHI DUTY FREE SERVICES PRIVATE LIMITED	Director	07/12/2010	07/10/2009	30/03/2012	Active	NO
15	U60100TN2010PLC074341	TVS AVIATION LOGISTICS LIMITED	Director	29/09/2011	06/05/2010	20/03/2014	Active	NO
16	U65999KA1992PLC037455	GMR Airports Limited	Director	17/06/2011	09/05/2011	-	Active	NO
17	U45200TG2003PTC041961	KAKINADA SEZ PRIVATE LIMITED	Director	30/08/2011	25/05/2011	20/10/2014	Active	NO
18	U45203DL2011PTC225560	GMR HIGHWAYS PROJECTS PRIVATE LIMITED	Director	27/09/2011	27/09/2011	24/02/2012	Active	NO
19	U92410KA2008PTC051176	GMR Sports Private Limited	Director	24/09/2012	01/10/2011	-	Active	NO
20	U45201KA2009PTC050109	GMR Hyderabad Vijayawada Expressways Private Limited	Director	14/08/2012	19/11/2011	25/07/2013	Active	NO
21	U45200DL2011PLC227902	GMR KISHANGARH UDAIPUR AHMEDABAD EXPRESSWAYS LIMITED	Director	24/11/2011	24/11/2011	25/07/2013	Active	NO
22	U45203KA2006PLC038379	GMR HIGHWAYS LIMITED	Director	14/08/2012	03/12/2011	-	Active	NO
23	U45203KA2005PTC036773	GMR AMBALA-CHANDIGARH EXPRESSWAYS PRIVATE LIMITED	Director	14/08/2012	17/01/2012	25/07/2013	Active	NO
24	U45203KA2009PTC050441	GMR Chennai Outer Ring Road Private Limited	Director	14/08/2012	17/01/2012	25/07/2013	Active	NO
25	U45209TN2007PLC064863	GMR KRISHNAGIRI SEZ LIMITED	Director	29/08/2012	20/01/2012	-	Active	NO
26	U74900KA2008PTC045801	GMR SEZ & PORT HOLDINGS PRIVATE LIMITED	Director	30/08/2012	31/03/2012	-	Active	NO

Name :

Mr. Shrinivas Bommidala

Designation :

Director

Date of Appointment :

01.10.2011

DIN No.:

00061464

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	U51909AP1988PTC009039	BOMMIDALA EXPORTS PRIVATE LIMITED	Director	13/09/1988	13/09/1988	-	Active	NO
2	U51909AP1988PTC009286	BOMMIDALA EXIM PVT LTD.	Director	22/11/1988	22/11/1988	-	Strike off	NO
3	U55101AP1985PTC005319	HOTEL SHIVAM INTERNATIONAL PVT LTD	Director	02/11/1992	02/11/1992	-	Active	NO
4	U15541AP1993PTC016105	BOMMIDALA TOBACCO EXPORTERS PRIVATE LIMITED	Director	27/12/1993	27/12/1993	-	Active	NO
5	U40105KA1995PLC016942	GMR POWER CORPORATION LIMITED	Director	04/06/1995	04/06/1995	15/10/2007	Active	NO
6	L45203KA1996PLC034805	GMR INFRASTRUCTURE LIMITED	Director	01/10/2011	10/05/1996	-	Active	NO
7	U23201KA1997PLC032964	GMR Vemagiri Power Generation Limited	Director	19/04/2006	01/10/2001	15/10/2007	Active	NO
8	U85110KA1996PLC021262	GMR ENERGY LIMITED	Director	20/12/2001	20/12/2001	17/10/2007	Active	NO
9	U80301AP2003NPL042195	GMR VARALAKSHMI FOUNDATION	Director	29/06/2004	29/06/2004	-	Active	NO
10	U67120MH1993PTC207451	GMR HOLDINGS PRIVATE LIMITED	Director	05/08/2005	08/05/2005	-	Active	NO
11	U45203KA2005PTC036773	GMR AMBALA-CHANDIGARH EXPRESSWAYS PRIVATE LIMITED	Director	10/01/2008	14/07/2005	17/01/2012	Active	NO
12	U13100KA2005PTC037308	GMR Mining AND Energy Private Limited	Director	23/09/2005	23/09/2005	17/10/2007	Active	NO
13	U16000AP2005PTC047651	BOMMIDALA TOBACCO THRESHERS PRIVATE LIMITED	Director	30/09/2005	30/09/2005	-	Under Process of Striking off	NO
14	U45200KA2005PLC049327	GMR POCHANPALLI EXPRESSWAYS LIMITED.	Director	10/01/2008	18/10/2005	14/07/2009	Active	NO
15	U45200TG2005PTC096719	JADCHERLA EXPRESSWAYS Private Limited	Director	10/01/2008	18/10/2005	03/08/2009	Active	NO
16	U70101KA2006PTC038204	B S R INFRASTRUCTURE PRIVATE LIMITED	Director	10/01/2006	10/01/2006	-	Converted to LLP and dissolved	NO
17	U45203KA2006PLC038379	GMR HIGHWAYS LIMITED	Director	10/01/2008	03/02/2006	04/12/2011	Active	NO
18	U40101UR2006PTC031381	GMR (BADRINATH) HYDRO POWER GENERATION PRIVATE LIMITED	Director	17/02/2006	17/02/2006	20/02/2009	Active	NO
19	U45203MH2006PTC265580	ULUNDURPET EXPRESSWAYS PRIVATE LIMITED	Director	10/01/2008	20/03/2006	17/05/2010	Active	NO
20	U63033DL2006PTC146936	Delhi International Airport Private Limited	Managing director	01/04/2014	19/04/2006	-	Active	NO
21	U62100TG2002PLC040118	GMR HYDERABAD INTERNATIONAL AIRPORT LIMITED	Managing director	23/01/2012	08/07/2006	-	Active	NO
22	U45400DL2007PTC163751	Delhi Aerotropolis Private Limited	Director	16/06/2008	18/06/2007	24/05/2010	Active	NO
23	U45209TN2007PLC064863	GMR KRISHNAGIRI SEZ LIMITED	Director	18/08/2008	28/09/2007	-	Active	NO
24	U45400TG2007PLC054827	GMR Hyderabad Aerotropolis Limited	Director	27/06/2008	29/09/2007	-	Active	NO
25	U45203KA2001PLC049328	GMR TUNI-ANAKAPALLI EXPRESSWAYS LIMITED	Director	03/07/2008	10/01/2008	22/01/2013	Active	NO
26	U45203KA2001PLC049329	GMR TAMBARAM TINDIVANAM EXPRESSWAYS LIMITED	Director	03/07/2008	10/01/2008	22/01/2013	Active	NO
27	U92410KA2008PTC051176	GMR Sports Private Limited	Director	19/02/2008	19/02/2008	-	Active	NO
28	U92412KA2008PTC051177	GMR League Games Private Limited	Director	07/03/2008	07/03/2008	03/10/2012	Active	NO
29	U23209TG2005PTC047372	KAKINADA REFINERY AND PETROCHEMICALS PRIVATE LIMITED	Director	22/09/2008	23/06/2008	27/11/2012	Active	NO
30	U74999KA2009PTC049039	BSR Holdings Private Limited	Director	04/02/2009	04/02/2009	-	Active	NO
31	U74920KA2005PLC036865	RAXA SECURITY SERVICES LIMITED	Director	29/09/2009	10/02/2009	01/02/2010	Active	NO
32	U45201KA2009PTC050109	GMR Hyderabad Vijayawada Expressways Private Limited	Director	11/06/2009	11/06/2009	19/11/2011	Active	NO
33	U62200KA2006PTC041278	GMR AVIATION PRIVATE LIMITED	Director	27/08/2012	20/07/2009	-	Active	NO
34	U45203KA2009PTC050441	GMR Chennai Outer Ring Road Private Limited	Director	21/07/2009	21/07/2009	17/01/2012	Active	NO
35	U74900KA2008PTC045801	GMR SEZ & PORT HOLDINGS PRIVATE LIMITED	Director	18/08/2010	01/02/2010	11/05/2011	Active	NO
36	U62200TG2008PLC059646	GMR Airport Developers Limited	Additional director	14/05/2010	14/05/2010	07/09/2010	Active	NO
37	U45200MH1996PTC205984	GMR PROJECTS PRIVATE LIMITED	Director	21/05/2010	21/05/2010	07/09/2010	Active	NO
38	U40100KA2008PTC045783	GMR GUJARAT SOLAR POWER PRIVATE LIMITED	Director	14/07/2011	19/10/2010	08/10/2012	Active	NO
39	U65999KA1992PLC037455	GMR Airports Limited	Director	17/06/2011	09/05/2011	-	Active	NO
40	U45200TG2003PTC041961	KAKINADA SEZ PRIVATE LIMITED	Director	30/08/2011	25/05/2011	-	Active	NO
41	U45203DL2011PTC225560	GMR HIGHWAYS PROJECTS PRIVATE LIMITED	Director	27/09/2011	27/09/2011	11/11/2011	Active	NO
42	U85110TG2011PTC076813	AMG HEALTHCARE DESTINATION PRIVATE LIMITED	Director	03/10/2011	03/10/2011	-	Active	NO
43	U45200DL2011PLC227902	GMR KISHANGARH UDAIPUR AHMEDABAD EXPRESSWAYS LIMITED	Director	24/11/2011	24/11/2011	28/01/2013	Active	NO
44	U45201TG2008PLC067141	GMR AEROSPACE ENGINEERING LIMITED	Director	27/07/2012	22/02/2012	-	Active	NO
45	U52599DL2009PTC191963	DELHI DUTY FREE SERVICES PRIVATE LIMITED	Director	02/07/2012	30/03/2012	-	Active	NO
46	AAD-7038	B S R INFRASTRUCTURE LLP	Designated Partner	01/04/2015	01/04/2015	-	Active	NO

Name :

Mr. G.B.S. Raju

Designation :

Director

Date of Appointment :

12.05.2010

DIN No.:

00061686

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	U85110KA1996PLC021262	GMR ENERGY LIMITED	Managing director	18/04/2013	20/06/1998	-	Active	NO
2	L45203KA1996PLC034805	GMR INFRASTRUCTURE LIMITED	Director	12/05/2010	22/05/1999	-	Active	NO
3	U80301AP2003NPL042195	GMR VARALAKSHMI FOUNDATION	Director	29/06/2004	29/06/2004	-	Active	NO
4	U62100TG2005PTC045123	GATEWAYS FOR INDIA AIRPORTS PRIVATE LIMITED	Director	12/01/2005	12/01/2005	07/11/2009	Active	NO
5	U67120MH1993PTC207451	GMR HOLDINGS PRIVATE LIMITED	Director	05/08/2005	08/05/2005	-	Active	NO
6	U67120KA1993PTC032116	BBM ESTATES PRIVATE LIMITED	Director	04/07/2005	04/07/2005	28/09/2007	Active	NO
7	U45203KA2006PLC038379	GMR HIGHWAYS LIMITED	Director	03/02/2006	03/02/2006	06/01/2007	Active	NO
8	U63033DL2006PTC146936	Delhi International Airport Private Limited	Director	11/06/2007	19/04/2006	-	Active	NO
9	U62100TG2002PLC040118	GMR HYDERABAD INTERNATIONAL AIRPORT LIMITED	Alternate director	08/07/2006	08/07/2006	24/01/2013	Active	NO
10	U45400DL2007PTC163751	Delhi Aerotropolis Private Limited	Director	16/06/2008	18/06/2007	-	Active	NO
11	U74999KA2007PLC043189	GMR Corporate Center Limited	Director	30/09/2008	18/07/2007	12/01/2009	Active	NO
12	U74920KA2005PLC036865	RAXA SECURITY SERVICES LIMITED	Director	29/09/2008	13/09/2007	10/02/2009	Active	NO
13	U65999KA1992PLC037455	GMR Airports Limited	Director	17/06/2011	11/01/2008	16/05/2013	Active	NO
14	U23209TG2005PTC047372	KAKINADA REFINERY AND PETROCHEMICALS PRIVATE LIMITED	Director	22/09/2008	23/06/2008	-	Active	NO
15	U40101KA2008PTC047277	GMR COASTAL ENERGY PRIVATE LIMITED	Director	24/07/2008	24/07/2008	13/05/2013	Active	NO
16	U74999KA2009PTC049040	GBS Holdings Private Limited	Director	04/02/2009	04/02/2009	-	Active	NO
17	U62200KA2006PTC041278	GMR AVIATION PRIVATE LIMITED	Director	29/09/2009	06/04/2009	12/09/2014	Active	NO
18	U40101KA2007PLC044809	GMR KAMALANGA ENERGY LIMITED	Director	28/09/2012	08/05/2012	-	Active	NO
19	U40105KA1995PLC016942	GMR POWER CORPORATION LIMITED	Managing director	10/09/2014	25/11/2013	-	Active	NO
20	U40101HP2008PTC030971	GMR BAJOLI HOLI HYDROPOWER PRIVATE LIMITED	Director	06/09/2014	15/07/2014	-	Active	NO
21	U40100MH2005PLC155140	EMCO ENERGY LIMITED	Additional director	15/10/2014	15/10/2014	-	Active	NO
22	U40108KA2008PLC047974	GMR CHHATTISGARH ENERGY LIMITED	Additional director	15/10/2014	15/10/2014	-	Active	NO

Name :

Mr. B.V.N. Rao

Designation :

Director

Date of Appointment :

28.07.2013

DIN No.:

00051167

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	L45203KA1996PLC034805	GMR INFRASTRUCTURE LIMITED	Director	28/07/2013	10/05/1996	-	Active	NO
2	U40105KA1995PLC016942	GMR POWER CORPORATION LIMITED	Director	10/09/2014	31/05/1999	-	Active	NO
3	U23201KA1997PLC032964	GMR Vemagiri Power Generation Limited	Director	01/10/2001	01/10/2001	13/10/2011	Active	NO
4	U85110KA1996PLC021262	GMR ENERGY LIMITED	Director	01/10/2011	20/12/2001	-	Active	NO
5	U62100TG2002PLC040118	GMR HYDERABAD INTERNATIONAL AIRPORT LIMITED	Director	29/10/2003	29/10/2003	17/07/2010	Active	NO
6	U80301AP2003NPL042195	GMR VARALAKSHMI FOUNDATION	Director	14/12/2004	14/12/2004	-	Active	NO
7	U74920KA2005PLC036865	RAXA SECURITY SERVICES LIMITED	Director	19/09/2005	19/09/2005	13/09/2007	Active	NO
8	U45200KA2005PLC049327	GMR POCHANPALLI EXPRESSWAYS LIMITED.	Director	08/06/2006	02/03/2006	11/10/2007	Active	NO
9	U45200TG2005PTC096719	JADCHERLA EXPRESSWAYS Private Limited	Director	08/06/2006	02/03/2006	11/10/2007	Active	NO
10	U45203KA2005PTC036773	GMR AMBALA-CHANDIGARH EXPRESSWAYS PRIVATE LIMITED	Director	03/05/2006	07/03/2006	11/10/2007	Active	NO
11	U45203MH2006PTC265580	ULUNDURPET EXPRESSWAYS PRIVATE LIMITED	Director	20/03/2006	20/03/2006	11/10/2007	Active	NO
12	U45203KA2001PLC049329	GMR TAMBARAM TINDIVANAM EXPRESSWAYS LIMITED	Director	22/09/2006	28/03/2006	11/10/2007	Active	NO
13	U45203KA2001PLC049328	GMR TUNI-ANAKAPALLI EXPRESSWAYS LIMITED	Managing director	11/09/2014	28/03/2006	-	Active	NO
14	U45203KA2006PLC038379	GMR HIGHWAYS LIMITED	Director	05/09/2014	06/01/2007	-	Active	NO
15	U67120MH1993PTC207451	GMR HOLDINGS PRIVATE LIMITED	Director	30/09/2008	18/08/2007	-	Active	NO
16	U40101UR2006PTC031381	GMR (BADRINATH) HYDRO POWER GENERATION PRIVATE LIMITED	Director	03/07/2008	17/10/2007	13/10/2009	Active	NO
17	U13100KA2005PTC037308	GMR Mining AND Energy Private Limited	Director	09/08/2011	17/10/2007	05/10/2011	Active	NO
18	L28100KA1986PLC049077	Parrys Sugar Industries Limited	Director	25/09/2008	29/10/2007	19/10/2009	Active	NO
19	L27101AP2006PLC049591	METKORE ALLOYS & INDUSTRIES LIMITED	Director	25/09/2008	29/10/2007	17/12/2009	Active	NO
20	U40101KA2007PLC044809	GMR KAMALANGA ENERGY LIMITED	Whole-time director	13/10/2014	28/12/2007	-	Active	NO
21	U74200KA2008PTC045448	GMR Consulting Services Private Limited	Director	28/02/2008	28/02/2008	08/10/2008	Active	NO
22	U23209TG2005PTC047372	KAKINADA REFINERY AND PETROCHEMICALS PRIVATE LIMITED	Director	22/09/2008	23/06/2008	-	Active	NO
23	U40101KA2008PTC047277	GMR COASTAL ENERGY PRIVATE LIMITED	Director	24/07/2008	24/07/2008	13/08/2009	Active	NO
24	U40101HP2008PTC030971	GMR BAJOLI HOLI HYDROPOWER PRIVATE LIMITED	Director	01/10/2008	01/10/2008	05/10/2011	Active	NO
25	U40108KA2008PLC047974	GMR CHHATTISGARH ENERGY LIMITED	Director	08/10/2008	08/10/2008	13/10/2011	Active	NO
26	U40101KA2008PTC048190	GMR LONDA HYDROPOWER PRIVATE LIMITED	Director	05/11/2008	05/11/2008	13/08/2009	Active	NO
27	U40108UR2009PTC032780	Badrinath Hydro Power Generation Private Limited	Director	11/02/2009	11/02/2009	13/10/2009	Strike off	NO
28	U40100MH2005PLC155140	EMCO ENERGY LIMITED	Director	16/08/2010	24/07/2009	18/10/2011	Active	NO
29	U40107KA2009PLC051643	GMR Rajahmundry Energy Limited	Director	27/11/2009	27/11/2009	18/10/2011	Active	NO
30	U40109KA1998PLC052000	SJK POWERGEN LIMITED	Director	16/08/2010	14/12/2009	05/10/2011	Active	NO
31	U40107KA2010PLC053789	GMR Maharashtra Energy Limited	Director	26/05/2010	26/05/2010	07/10/2011	Active	NO
32	U40107KA2010PTC054125	GMR UTTAR PRADESH ENERGY PRIVATE LIMITED	Director	18/06/2010	18/06/2010	01/03/2011	Active	NO
33	U40101KA2010PTC054124	GMR BUNDELKHAND ENERGY PRIVATE LIMITED	Director	18/06/2010	18/06/2010	07/10/2011	Active	NO
34	U45200TG2003PTC041961	KAKINADA SEZ PRIVATE LIMITED	Director	30/08/2011	25/05/2011	-	Active	NO
35	U74900TN2013PLC092846	GMR Hosur EMC Limited	Director	04/09/2013	04/09/2013	-	Active	NO
36	U45200DL2011PLC227902	GMR KISHANGARH UDAIPUR AHMEDABAD EXPRESSWAYS LIMITED	Director	10/09/2014	29/10/2013	-	Active	NO

Name :

Mr. K.V.V Rao

Designation :

Director

Date of Appointment :

17.09.2013

DIN No.:

01165942

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	U45200MH1996PTC205984	GMR PROJECTS PRIVATE LIMITED	Director	09/07/2009	08/10/2001	-	Active	NO
2	U85110KA1996PLC021262	GMR ENERGY LIMITED	Director	18/04/2013	11/01/2007	30/09/2013	Active	NO
3	U13100KA2005PTC037308	GMR Mining AND Energy Private Limited	Director	05/07/2008	17/10/2007	02/11/2010	Active	NO
4	U40101KA2007PLC044809	GMR KAMALANGA ENERGY LIMITED	Managing director	01/09/2008	28/12/2007	27/08/2013	Active	NO
5	U10101OR2008PTC009827	RAMPIA COAL MINE AND ENERGY PRIVATE LIMITED	Director	24/09/2008	19/02/2008	26/09/2014	Active	NO
6	L45203KA1996PLC034805	GMR INFRASTRUCTURE LIMITED	Director	17/09/2013	12/11/2012	-	Active	NO
7	U40108KA2008PLC047974	GMR CHHATTISGARH ENERGY LIMITED	Whole-time director	23/04/2014	19/04/2013	-	Active	NO

Name :

Mr. O. Bangaru Raju

Designation :

Director

Date of Appointment :

19.09.2008

DIN No.:

00082228

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	U45203KA2001PLC049328	GMR TUNI-ANAKAPALLI EXPRESSWAYS LIMITED	Director	11/10/2007	01/09/2001	-	Active	NO
2	U45203KA2001PLC049329	GMR TAMBARAM TINDIVANAM EXPRESSWAYS LIMITED	Managing director	01/04/2015	01/09/2001	-	Active	NO
3	U45203KA2005PTC036773	GMR AMBALA-CHANDIGARH EXPRESSWAYS PRIVATE LIMITED	Director	10/08/2009	11/11/2005	-	Active	NO
4	U45400DL2007PTC163751	Delhi Aerotropolis Private Limited	Director	16/06/2008	18/06/2007	-	Active	NO
5	U63033DL2006PTC146936	Delhi International Airport Private Limited	Alternate director	16/09/2007	16/09/2007	22/07/2014	Active	NO
6	L45203KA1996PLC034805	GMR INFRASTRUCTURE LIMITED	Director	19/08/2008	18/10/2007	-	Active	NO
7	U45203KA2006PLC038379	GMR HIGHWAYS LIMITED	Managing director	29/09/2008	16/06/2008	-	Active	NO
8	U45203MH2006PTC265580	ULUNDURPET EXPRESSWAYS PRIVATE LIMITED	Director	10/08/2009	12/07/2008	18/02/2014	Active	NO
9	U45200KA2005PLC049327	GMR POCHANPALLI EXPRESSWAYS LIMITED.	Director	10/08/2009	12/07/2008	29/03/2014	Active	NO
10	U45200TG2005PTC096719	JADCHERLA EXPRESSWAYS Private Limited	Director	10/08/2009	12/07/2008	-	Active	NO
11	U45201KA2009PTC050109	GMR Hyderabad Vijayawada Expressways Private Limited	Director	11/06/2009	11/06/2009	-	Active	NO
12	U45203KA2009PTC050441	GMR Chennai Outer Ring Road Private Limited	Director	21/07/2009	21/07/2009	-	Active	NO
13	U45203DL2011PTC225560	GMR HIGHWAYS PROJECTS PRIVATE LIMITED	Director	27/09/2011	27/09/2011	31/03/2015	Active	NO
14	U45200DL2011PLC227902	GMR KISHANGARH UDAIPUR AHMEDABAD EXPRESSWAYS LIMITED	Director	24/11/2011	24/11/2011	-	Active	NO
15	U74140DL2012PLC246662	INDIAN HIGHWAYS MANAGEMENT COMPANY LIMITED	Director	20/09/2013	06/03/2013	-	Active	NO

Name :

Mr. C.R. Muralidharan

Designation :

Director

Date of Appointment :

18.09.2014

DIN No.:

02443277

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	U80302TG2002NPL039397	INSTITUTE OF INSURANCE AND RISK MANAGEMENT	Nominee director	30/06/2005	30/06/2005	21/01/2010	Active	NO
2	L65999DL2006PLC153373	PTC INDIA FINANCIAL SERVICES LIMITED	Director	25/03/2015	11/01/2010	-	Active	NO
3	L65110TN1904PLC001287	CITY UNION BANK LIMITED	Director	11/08/2010	25/02/2010	-	Active	NO
4	U99999DL1993PLC054135	ICICI PRUDENTIAL ASSET MANAGEMENT COMPANY LIMITED	Director	27/01/2015	20/05/2010	-	Active	NO
5	U66010MH2007PLC166770	Universal Sompo General Insurance Company Limited	Director	26/09/2013	29/12/2012	-	Active	NO
6	L45203KA1996PLC034805	GMR INFRASTRUCTURE LIMITED	Director	18/09/2014	17/09/2013	-	Active	NO

Name :

Dr. Prakash G. Apte

Designation :

Director

Date of Appointment :

18.09.2014

DIN No.:

00045798

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	L45203KA1996PLC034805	GMR INFRASTRUCTURE LIMITED	Director	18/09/2014	02/09/2005	-	Active	NO
2	U65991MH2002GOI137868	UTI TRUSTEE COMPANY PRIVATE LIMITED	Director	13/01/2006	13/01/2006	-	Active	NO
3	L35202KA1964GOI001530	BEML LIMITED	Director	17/01/2006	17/01/2006	17/01/2009	Active	NO
4	L65910DL1986GOI024862	POWER FINANCE CORPORATION LIMITED	Director	29/06/2006	29/06/2006	28/06/2009	Active	NO
5	L23201MH1952GOI008858	HINDUSTAN PETROLEUM CORPORATION LIMITED	Additional director	20/07/2007	20/07/2007	19/07/2010	Active	NO
6	U72900MH1995PLC095642	NSDL e-Governance Infrastructure Limited	Director	13/08/2008	09/08/2007	16/08/2012	Active	NO
7	L51909MH2002PLC135594	MULTI COMMODITY EXCHANGE OF INDIA LIMITED	Nominee director	14/06/2012	22/09/2007	01/09/2013	Active	NO
8	U65999KA1992PLC037455	GMR Airports Limited	Director	30/09/2008	08/02/2008	09/07/2009	Active	NO
9	U67120MH2008PLC188032	MCX-SX CLEARING CORPORATION LIMITED	Director	17/07/2009	17/04/2009	25/07/2013	Active	NO
10	U40101UR2006PTC031381	GMR (BADRINATH) HYDRO POWER GENERATION PRIVATE LIMITED	Additional director	27/03/2015	27/03/2015	-	Active	NO
11	U40101KA2007PLC044809	GMR KAMALANGA ENERGY LIMITED	Additional director	27/03/2015	27/03/2015	-	Active	NO
12	U45200TG2003PTC041961	KAKINADA SEZ PRIVATE LIMITED	Additional director	30/03/2015	30/03/2015	-	Active	NO
13	U62200KA2006PTC041278	GMR AVIATION PRIVATE LIMITED	Additional director	31/03/2015	31/03/2015	-	Active	NO
14	U62200TG2008PLC059646	GMR Airport Developers Limited	Additional director	31/03/2015	31/03/2015	-	Active	NO
15	U74900KA2008PTC045801	GMR SEZ & PORT HOLDINGS PRIVATE LIMITED	Additional director	31/03/2015	31/03/2015	-	Active	NO

Name :

Mr. N.C Sarabeswaran

Designation :

Director

Date of Appointment :

18.09.2009

DIN No.:

00167868

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	U51102TN1954PTC002241	R SUBBARAMAN & CO PRIVATE LIMITED	Director	31/07/1989	31/07/1989	-	Active	NO
2	U15209TN1997PTC039463	NANKKAVARAM FARM PRIVATE LIMITED	Director	27/01/1999	27/01/1999	14/02/2008	Strike off	NO
3	U85110KA1996PLC021262	GMR ENERGY LIMITED	Director	08/03/2004	08/03/2004	-	Active	NO
4	U65929TN2005PLC057390	MADURA MICRO FINANCE LIMITED	Director	16/03/2006	16/03/2006	-	Active	NO
5	U45200TG2005PTC096719	JADCHERLA EXPRESSWAYS Private Limited	Director	08/06/2006	25/04/2006	24/04/2013	Active	NO
6	U45203MH2006PTC265580	ULUNDURPET EXPRESSWAYS PRIVATE LIMITED	Director	05/07/2007	25/04/2006	18/02/2014	Active	NO
7	U45203KA2005PTC036773	GMR AMBALA-CHANDIGARH EXPRESSWAYS PRIVATE LIMITED	Director	03/05/2006	25/04/2006	24/07/2014	Active	NO
8	U45200KA2005PLC049327	GMR POCHANPALLI EXPRESSWAYS LIMITED.	Director	11/09/2014	25/04/2006	-	Active	NO
9	U40101UR2006PTC031381	GMR (BADRINATH) HYDRO POWER GENERATION PRIVATE LIMITED	Director	19/06/2006	19/06/2006	30/03/2012	Active	NO
10	L27101AP2006PLC049591	METKORE ALLOYS & INDUSTRIES LIMITED	Director	28/06/2007	28/06/2007	17/12/2009	Active	NO
11	U40105KA1995PLC016942	GMR POWER CORPORATION LIMITED	Director	04/07/2008	07/05/2008	-	Active	NO
12	U40101KA2007PLC044809	GMR KAMALANGA ENERGY LIMITED	Director	24/08/2009	01/09/2008	-	Active	NO
13	U45203KA2006PLC038379	GMR HIGHWAYS LIMITED	Director	05/09/2014	18/03/2009	-	Active	NO
14	U40108KA2008PLC047974	GMR CHHATTISGARH ENERGY LIMITED	Director	13/08/2010	02/12/2009	-	Active	NO
15	U45209TN2007PLC064863	GMR KRISHNAGIRI SEZ LIMITED	Director	29/08/2012	28/10/2011	21/07/2014	Active	NO
16	U45200TG2003PTC041961	KAKINADA SEZ PRIVATE LIMITED	Director	30/08/2012	28/10/2011	16/07/2014	Active	NO
17	L45203KA1996PLC034805	GMR INFRASTRUCTURE LIMITED	Director	18/09/2014	09/11/2011	-	Active	NO
18	U45200DL2011PLC227902	GMR KISHANGARH UDAIPUR AHMEDABAD EXPRESSWAYS LIMITED	Director	21/08/2012	17/01/2012	24/07/2014	Active	NO
19	U65999KA1992PLC037455	GMR Airports Limited	Director	30/09/2014	22/07/2014	-	Active	NO
20	U63033DL2006PTC146936	Delhi International Airport Private Limited	Director	26/08/2014	22/07/2014	-	Active	NO
21	U62100TG2002PLC040118	GMR HYDERABAD INTERNATIONAL AIRPORT LIMITED	Director	25/09/2014	25/09/2014	-	Active	NO

Name :

Mr. R.S.S.L.N. Bhaskarudu

Designation :

Director

Date of Appointment :

18.09.2014

DIN No.:

00058527

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	U40101TN2005PLC057117	HARYANA ABAN POWER COMPANY LIMITED	Director	05/08/2005	05/08/2005	20/04/2012	Active	NO
2	L45203KA1996PLC034805	GMR INFRASTRUCTURE LIMITED	Director	18/09/2014	02/09/2005	-	Active	NO
3	U62100TG2002PLC040118	GMR HYDERABAD INTERNATIONAL AIRPORT LIMITED	Director	25/09/2014	15/10/2005	-	Active	NO
4	U40101DL2005PLC141611	COUNTRYWIDE POWER TRANSMISSION LIMITED	Director	17/10/2005	17/10/2005	06/10/2007	Active	NO
5	U27109AP1982GOI003404	RASHTRIYA ISPAT NIGAM LTD	Director	26/04/2006	26/04/2006	25/04/2009	Active	NO
6	L62200DL1998PLC093225	GLOBAL VECTRA HELICORP LIMITED	Director	07/06/2006	07/06/2006	01/05/2012	Active	NO
7	U72200TN2002PLC050086	FATPIPE NETWORKS LIMITED	Director	25/09/2009	01/11/2008	-	Active	NO
8	U63033DL2006PTC146936	Delhi International Airport Private Limited	Director	26/08/2014	18/03/2009	-	Active	NO
9	U65999KA1992PLC037455	GMR Airports Limited	Director	17/06/2011	09/05/2011	-	Active	NO
10	U74999DL2010PTC203419	TIM Delhi Airport Advertising Private Limited	Additional director	30/03/2015	30/03/2015	-	Active	NO
11	U52599DL2009PTC191963	DELHI DUTY FREE SERVICES PRIVATE LIMITED	Additional director	31/03/2015	31/03/2015	-	Active	NO
12	U62200TG2008PLC059646	GMR Airport Developers Limited	Additional director	31/03/2015	31/03/2015	-	Active	NO
13	U62100TG2006PTC049243	Hyderabad Menzies Air Cargo Private Limited	Additional director	31/03/2015	31/03/2015	-	Active	NO
14	U52390TG2010PLC068442	HYDERABAD DUTY FREE RETAIL LIMITED	Additional director	31/03/2015	31/03/2015	-	Active	NO

Name :

Mr. S. Sandilya

Designation :

Director

Date of Appointment :

18.09.2014

DIN No.:

00037542

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	L34100DL1955PLC079688	EICHER LIMITED	Director	11/08/1994	11/08/1994	-	Amalgamated	NO
2	U74140DL1991PTC046601	ECS Private LIMITED	Director	12/08/1998	12/08/1998	24/12/2008	Active	NO
3	L34102DL1982PLC129877	EICHER MOTORS LIMITED	Director	29/04/2006	26/10/1999	-	Active	NO
4	L35921TN1949PLC002905	TUBE INVESTMENTS OF INDIA LIMITED	Director	06/08/2014	27/01/2005	-	Active	NO
5	L35999TN1964PLC005276	RANE BRAKE LININGS LIMITED	Director	26/05/2006	26/05/2006	-	Amalgamated	NO
6	U34109DL2006PLC152312	ROYAL ENFIELD MOTORCYCLES LIMITED	Director	29/09/2007	22/08/2006	-	Strike off	NO
7	L28100KA1986PLC049077	Parrys Sugar Industries Limited	Director	25/09/2007	26/10/2006	22/07/2013	Active	NO
8	U80300DL2007NPL171517	Lean Management Institute of India	Director	17/12/2007	17/12/2007	-	Active	NO
9	L63011TN2004PLC054948	RANE BRAKE LINING LIMITED	Director	22/07/2014	06/02/2008	-	Active	NO
10	U34300DL1960NPL093535	ASSOCIATION OF INDIAN AUTOMOBILES MANUFACTURERS (SECTION-25 COMPANY)	Director	26/08/2010	26/08/2010	-	Active	NO
11	L74140GJ1982PLC005215	MASTEK LIMITED	Director	05/03/2015	19/01/2012	-	Active	NO
12	L45203KA1996PLC034805	GMR INFRASTRUCTURE LIMITED	Director	18/09/2014	11/09/2012	-	Active	NO
13	U85300DL2008NPL181612	National Skill Development Corporation	Director appointed in casual vacancy	05/08/2014	05/08/2014	-	Active	NO

Name :

Mr. S. Rajagopal

Designation :

Director

Date of Appointment :

18.09.2014

DIN No.:

00022609

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	U85110KA1996PLC021262	GMR ENERGY LIMITED	Director	07/07/2008	31/07/2002	-	Active	NO
2	L29219WB1985PLC055352	SREI INFRASTRUCTURE FINANCE LIMITED	Director	02/08/2014	25/01/2003	-	Active	NO
3	U45203KA2001PLC049328	GMR TUNI-ANAKAPALLI EXPRESSWAYS LIMITED	Director	11/09/2014	31/03/2003	-	Active	NO
4	U45203KA2001PLC049329	GMR TAMBARAM TINDIVANAM EXPRESSWAYS LIMITED	Director	11/09/2014	31/03/2003	-	Active	NO
5	U65922TN1995PLC031681	NATIONAL TRUST HOUSING FINANCE LIMITED	Director	30/07/2014	11/04/2003	-	Active	NO
6	U65999WB1994PLC065722	Srei Alternative Investment Managers Limited	Director	13/06/2005	13/06/2005	31/12/2014	Active	NO
7	U18101TZ2005PLC012295	S.P.APPARELS LIMITED	Director	30/09/2006	30/01/2006	15/03/2011	Active	NO
8	L28990MH1996PLC097945	VARUN INDUSTRIES LIMITED	Director	16/07/2007	05/12/2006	28/03/2012	Active	NO
9	L30006TN1995PLC031651	ZYLOG SYSTEMS LIMITED	Director	21/06/2007	28/01/2007	07/12/2012	Under liquidation	NO
10	U72200KA2003PTC032027	Wisdomleaf Technologies Private Limited	Director	21/07/2008	14/07/2007	-	Active	NO
11	U40102MH2007PLC172552	USHER ECO POWER LIMITED	Director	27/06/2008	15/05/2008	31/10/2009	Active	NO
12	U40101KA2007PLC044809	GMR KAMALANGA ENERGY LIMITED	Director	24/08/2009	01/09/2008	-	Active	NO
13	U72200TN2005PLC058451	ZYLOG SYSTEMS (INDIA) LIMITED.	Director	23/09/2009	19/01/2009	07/12/2012	Under liquidation	NO
14	U40108KA2008PLC047974	GMR CHHATTISGARH ENERGY LIMITED	Director	13/08/2010	02/12/2009	-	Active	NO
15	U72900KA2009PTC051942	CAREERCUBICLE TECHNOLOGIES PRIVATE LIMITED	Director	23/12/2009	23/12/2009	-	Active	NO
16	U51909TN1994PLC028470	VIVEK LIMITED	Director	29/09/2014	09/03/2010	-	Active	NO
17	U45201KA2009PTC050109	GMR Hyderabad Vijayawada Expressways Private Limited	Director	11/09/2014	18/03/2010	-	Active	NO
18	U45200DL2011PLC227902	GMR KISHANGARH UDAIPUR AHMEDABAD EXPRESSWAYS LIMITED	Director	10/09/2014	17/01/2012	22/01/2015	Active	NO
19	L45203KA1996PLC034805	GMR INFRASTRUCTURE LIMITED	Director	18/09/2014	12/11/2012	-	Active	NO

Name :

Mr. Santhana Raman

Designation :

Independent Director

Date of Appointment :

18.09.2014

DIN No.:

00212334

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	L65110TN1916PLC001295	THE KARUR VYSYA BANK LIMITED	Director	21/07/2010	13/03/2010	24/06/2012	Active	NO
2	L92113TG2007PLC053585	DQ ENTERTAINMENT (INTERNATIONAL) LIMITED	Director	30/09/2014	10/11/2012	-	Active	NO
3	L24231TN1988PLC015882	ARVIND REMEDIES LIMITED	Additional director	11/02/2013	11/02/2013	03/07/2013	Active	NO
4	U74900TN2013PLC090457	ARVIND WELLNESS LIMITED	Director	08/04/2013	08/04/2013	03/07/2013	Active	NO
5	U85110KA1996PLC021262	GMR ENERGY LIMITED	Director	30/09/2013	21/08/2013	-	Active	NO
6	L45203KA1996PLC034805	GMR INFRASTRUCTURE LIMITED	Director	18/09/2014	17/09/2013	-	Active	NO
7	L17111TN1936PLC002298	RAJAPALAYAM MILLS LIMITED	Director	04/08/2014	27/12/2013	-	Active	NO
8	L17111TN1939PLC002302	RAMARAJU SURGICAL COTTON MILLS LIMITED	Director	25/05/2014	25/05/2014	-	Active	NO
9	U40101HP2008PTC030971	GMR BAJOLI HOLI HYDROPOWER PRIVATE LIMITED	Director	06/09/2014	15/07/2014	-	Active	NO
10	L26943TN1965PLC005297	RAMCO INDUSTRIES LIMITED	Director	01/10/2014	01/10/2014	-	Active	NO
11	U40100MH2005PLC155140	EMCO ENERGY LIMITED	Additional director	27/03/2015	27/03/2015	-	Active	NO
12	U40105KA1995PLC016942	GMR POWER CORPORATION LIMITED	Director	27/03/2015	27/03/2015	-	Active	NO
13	U45209TN2007PLC064863	GMR KRISHNAGIRI SEZ LIMITED	Additional director	31/03/2015	31/03/2015	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Madhva B. Terdal
Designation :	Chief Financial Officer
Name :	Mr. G.M. Rao
Designation :	Executive Chairman
Name :	Mr. C.P. Sounderrajan
Designation :	Company Secretary and Comliance Officer
Audit Committee:
Name :	Mr. N.C Sarabeswaran
Designation :	Chairman
Name :	Mr. R.S.S.L.N Bhaskarudu
Designation :	Member
Name :	Mr. S. Rajagopal
Designation :	Member
Stakeholders Relationship Committee:
Name :	Mr. R.S.S.L.N Bhaskarudu
Designation :	Chairman
Name :	Mr. B.V.N. Rao
Designation :	Member
Name :	Mr. G.B.S. Raju
Designation :	Member
Name :	Mr. K.V.V. Rao
Designation :	Member
Nomination and Remuneration Committee:
Name :	Mr. R.S.S.L.N Bhaskarudu
Designation :	Chairman
Name :	Mr. B.V.N. Rao
Designation :	Member
Name :	Dr. Prakash G. Apte
Designation :	Member
Name :	Mr. N.C Sarabeswaran
Designation :	Member
Corporate Social Responsibility Committee:
Name :	Mr. R.S.S.L.N Bhaskarudu
Designation :	Chairman
Name :	Mr. B.V.N. Rao
Designation :	Member
Name :	Mr. O. Bangaru Raju
Designation :	Member

SHAREHOLDING PATTERN

As on 30.07.2015

Category of Shareholders	No. of Shares	Percentage of Holding
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	6196170	0.12
Bodies Corporate	3645503843	68.84
Any Others (Specify)	4000	0.00
Others	4000	0.00
Sub Total	3651704013	68.95
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	3651704013	68.95
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	133201590	2.52
Financial Institutions / Banks	320181741	6.05
Insurance Companies	9969204	0.19
Foreign Institutional Investors	544096978	10.27
Sub Total	1007449513	19.02
(2) Non-Institutions
Bodies Corporate	181997318	3.44
Individuals
Individual shareholders holding nominal share capital up to Rs.0.100 Million	362783135	6.85
Individual shareholders holding nominal share capital in excess of Rs.0.100 Million	70642948	1.33
Any Others (Specify)	21223462	0.40
Trusts	28650	0.00
Non Resident Indians	17941860	0.34
Clearing Members	3252952	0.06
Sub Total	636646863	12.02
Total Public shareholding (B)	1644096376	31.05
Total (A)+(B)	5295800389	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued	0	0.00
(1) Promoter and Promoter Group	0	0.00
(2) Public	0	0.00
Sub Total	0	0.00
Total (A)+(B)+(C)	5295800389	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in development of various infrastructure projects in power and transportation sectors through several special purpose vehicles.
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :	Not Available

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 :	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 :	Not Divulged
Remark:	Not Divulged

No. of Employees :

Information declined by the management

Bankers :

Bank Name	Axis Bank Limited
Branch	Not Divulged
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

• ICICI Bank Limited
• IDBI Bank Limited
• Central Bank of India
• United Bank of India
• YES Bank Limited

Facilities :

Secured Loan	31.03.2015 (Rs. in Million)	31.03.2014 (Rs. in Million)
Long-term Borrowings
10.000 (March 31, 2013:10,000) 0% secured, redeemable and non-convertible debentures of Rs. 9775000.000 Million (March 31, 2013 Rs.7000000.000 Million)	NA	9675.000
Term Loan
Indian rupee term loan from financial institutions	NA	2319.200
Indian rupee term loan from Bank	NA	5885.000
Loan from Others	NA	02.300
Short-term borrowings
Bank Overdraft	NA	1366.400
Total	NA	19247.900

Note:

Bank overdraft is secured by first charge on current assets of the EPC division of the Company and carries an interest @13.50% p.a. (March 31, 2013: 13.75% p.a.).

Short-term loan from banks represents loan taken from banks which was repayable by way of a bullet payment within one year from the date of disbursement and carried interest rate of 12.80% p.a.(March 31, 2013: ranging from 12.00% p.a. to 12.80% p.a.)

During the year ended March 31, 2014, the Company has accepted intercorporate deposit Rs.110.000 Million from its subsidiary, GMR Aviation Private Limited (‘GAPL’) which is repayble on or before April 09, 2014 and carries an interest @ 12.50% p.a.(March 31, 2013 : Nil) payable on a monthly basis. During the year ended March 31, 2013, the Company had accepted intercorporate deposit of Rs.1500.000 Million from its subsidiary, GMR Airports Limited (‘GAL’) which is repayable within 6 months from the date of first disbursement of deposit and carries an interest @ 11.75% p.a (March 31, 2013: 11.75% p.a.) payable on a monthly basis. The loan has been extended for a further period of one year. Of the above Rs.1500.000 Million, Rs.680.000 Million is outstanding as at March 31, 2014.

Statutory Auditors :
Name :	S.R. Batliboi and Associates LLP Chartered Accountants
Address :	12^th and 13^th Floor, “UB City”, Canberra Block No.24, Vittal Mallya Road, Bangalore – 560 001, Karnataka, India
Tel. No.:	91-80-40275000
Fax No.:	91-80-22106000
Memberships :	Not Available
Collaborators :	Not Available
Holding Company: (As on 31.03.2014)	GMR Holdings Private Limited (GHPL)
Subsidiary Companies: (As on 31.03.2014)	GMR Renewable Energy Limited (GREEL) GMR Energy Limited (GEL) GMR Power Corporation Limited (GPCL) GMR Vemagiri Power Generation Limited (GVPGL) GMR Energy Trading Limited (GETL) GMR (Badrinath) Hydro Power Generation Private Limited (GBHPL) Badrinath Hydro Power Generation Private Limited (BHPL)1 GMR Mining and Energy Private Limited (GMEL) GMR Kamalanga Energy Limited (GKEL) GMR Consulting Services Private Limited (GCSPL) GMR Rajahmundry Energy Limited (GREL) SJK Powergen Limited (SJK) GMR Coastal Energy Private Limited (GCEPL) GMR Bajoli Holi Hydropower Private Limited (GBHHPL) GMR Chhattisgarh Energy Limited (GCHEPL) GMR Londa Hydropower Private Limited (GLHPPL) GMR Chhattisgarh Energy Limited (GCHEPL) GMR Londa Hydropower Private Limited (GLHPPL) GMR Kakinada Energy Private Limited (GKEPL) EMCO Energy Limited (EMCO) Delhi International Airport Private Limited (DIAL) Delhi Aerotropolis Private Limited (DAPL) GMR Hyderabad International Airport Limited (GHIAL) Hyderabad Menzies Air Cargo Private Limited (HMACPL) Hyderabad Airport Security Services Limited (HASSL) GMR Hyderabad Airport Resource Management Limited (GHARML) GMR Hyderabad Aerotropolis Limited (HAPL) GMR Hyderabad Aviation SEZ Limited (GHASL) GMR Hyderabad Multiproduct SEZ Limited (GHMSL) GMR Hotels and Resorts Limited (GHRL) Gateways for India Airports Private Limited (GFIAL) GMR Highways Limited (GMRHL) GMR Tuni Anakapalli Expressways Limited (GTAEPL) (Formerly known as GMR Tuni Anakapalli Expressways Private Limited) GMR Highways Projects Private Limited (GHPPL) GMR Tambaram Tindivanam Expressways Limited (GTTEPL) (Formerly known as GMR Tambaram Tindivanam Expressways Private Limited) GMR Ambala Chandigarh Expressways Private Limited (GACEPL) GMR Pochanpalli Expressways Limited (GPEPL) GMR Hyderabad Vijayawada Expressways Private Limited (GHVEPL) GMR Chennai Outer Ring Road Private Limited (GCORRPL) GMR OSE Hungund Hospet Highways Private Limited (GOSEHHHPL) GMR Kishangarh Udaipur Ahmedabad Expressways Limited (GKUAEL) GMR Krishnagiri SEZ Limited (GKSEZ) Advika Properties Private Limited (APPL) Aklima Properties Private Limited (AKPPL) Amartya Properties Private Limited (AMPPL) Baruni Properties Private Limited (BPPL) Camelia Properties Private Limited (CPPL) Eila Properties Private Limited (EPPL) Gerbera Properties Private Limited (GPL) Lakshmi Priya Properties Private Limited (LPPPL) Honeysuckle Properties Private Limited (HPPL) Idika Properties Private Limited (IPPL) Krishnapriya Properties Private Limited (KPPL) Nadira Properties Private Limited (NPPL) Prakalpa Properties Private Limited (PPPL) Purnachandra Properties Private Limited (PUPPL) Shreyadita Properties Private Limited (SPPL) Sreepa Properties Private Limited (SRPPL) Bougainvillea Properties Private Limited (BOPPL) Honeyflower Estates Private Limited (HFEPL)7 Namitha Real Estate Private Limited (NREPL)7 GMR Gujarat Solar Power Private Limited (GGSPPL) GMR Airports Limited (GAL) GMR Corporate Affairs Private Limited (GCAPL) GMR SEZ & Port Holdings Private Limited (GSPHPL) GMR Aviation Private Limited (GAPL) GMR Business Process and Services Private Limited (GBPSPL) Dhruvi Securities Private Limited (DSPL) Himtal Hydro Power Company Private Limited (HHPPL) GMR Upper Karnali Hydro Power Limited (GUKPL) GMR Energy (Mauritius) Limited (GEML) GMR Lion Energy Limited (GLEL) GMR Energy (Cyprus) Limited (GECL) GMR Energy (Netherlands) BV (GENBV) PT Unsoco (PT) PT Dwikarya Sejati Utma (PTDSU) PT Duta Sarana Internusa (PTDSI) PT Barasentosa Lestari (PTBSL) GMR Infrastructure (Mauritius) Limited (GIML) GMR Infrastructure (Cyprus) Limited (GICL) GMR Infrastructure Overseas (Malta) Limited (GIOSL) (Formerly known as GMR Infrastructure Overseas Sociedad Limitada) GMR Infrastructure (UK) Limited (GIUL) GMR Airports (Malta) Limited (GMRAML) GMR Infrastructure (Global) Limited (GIGL) GMR Infrastructure (Singapore) Pte Limited (GISPL) GMR Energy (Global) Limited (GEGL) GMR Energy (Singapore) Pte Limited (GESPL)1 GMR Supply Singapore Pte Limited (GSSPL)1 Homeland Energy Group limited (HEGL) Homeland Energy Corporation (HEC) Homeland Mining & Energy SA (Pty) Limited (HMES) Homeland Energy (Swaziland) Pty Limited (HESW)1 Homeland Mining & Energy (Botswana) (Pty) Limited (HMEB)1 Homeland Coal Mining (Pty) Limited (HCM) Ferret Coal Holdings (Pty) Limited (FCH)1 Wizard Investments (Pty) Limited (WIL)1 Ferret Coal (Kendal) (Pty) Limited (FCK) Manoka Mining (Pty) Limited (MMPL)1 Corpclo 331 (Pty) Limited (CPL) GMR Maharashtra Energy Limited (GMAEL) GMR Bundelkhand Energy Private Limited (GBEPL) GMR Uttar Pradesh Energy Private Limited (GUPEPL) GMR Hosur Energy Limited (GHOEL) Karnali Transmission Company Private Limited (KTCPL) Marsyangdi Transmission Company Private Limited (MTCPL) GMR Indo-Nepal Energy Links Limited (GINELL) GMR Indo-Nepal Power Corridors Limited (GINPCL) Aravali Transmission Service Company Limited (ATSCL) Maru Transmission Service Company Limited (MTSCL) GMR Energy Projects (Mauritius) Limited (GEPML) Hyderabad Duty Free Retail Limited (HDFRL) GMR Airport Developers Limited (GADL) GADL International Limited (GADLIL) GADL (Mauritius) Limited (GADLML) Deepesh Properties Private Limited (DPPL) Larkspur Properties Private Limited (LAPPL) Padmapriya Properties Private Limited (PAPPL) Radha Priya Properties Private Limited (RPPL) Pranesh Properties Private Limited (PRPPL) Kakinada SEZ Private Limited (KSPL) GMR Power Infra Limited (GPIL) GMR Male International Airport Private Limited (GMIAL) GMR Male Retail Private Limited (GMRPL) GMR Coal Resources Pte Limited (GCRPL) GMR Airport Handling Services Company Limited (GAHSCL) GMR Airport Global Limited (GAGL) GMR Hosur Industrial City Private Limited (GHICL) (Formerly known as Lantana Properties Private Limited (LPPL))2 Asteria Real Estate Properties Private Limited (AREPL)2 GMR Infrastructure Overseas Limited (GIOL) GMR Hosur EMC Private Limited( GHEMCPL)6 GMR Airports (Mauritius) Limited (GALM)6 Delhi Duty Free Services Private Limited (DDFS) 10 GMR Hyderabad Airport Power Distribution Limited (GHAPDL)2
Enterprises where significant influence exists: (As on 31.03.2014)	Istanbul Sabiha Gokcen Uluslararasi Havalimani Yer Hizmetleri Anonim Sirketi (SGH) 5 Rampia Coal Mine and Energy Private Limited (RCMEPL) MAS GMR Aerospace Engineering Company Private Limited (MGAECL) TVS GMR Aviation Logistics Limited (TVS GMR)5 Limak GMR Construction JV (CJV) Celebi Delhi Cargo Terminal Management India Private Limited (CDCTM) Delhi Cargo Service Centre Private Limited (DCSCPL) Delhi Aviation Services Private Limited (DASPL) Travel Food Services (Delhi Terminal 3) Private Limited (TFS) Devyani Food Street Private Limited (DFSPL) Delhi Select Services Hospitality Private Limited (DSSHPL) Wipro Airport IT Services Limited (WAISL) TIM Delhi Airport Advertisment Private Limited (TIM) LGM Havalimani Isletmeleri Ticaret Ve Turizm Anonim Sirketi (LGM) Delhi Airport Parking Services Private Limited (DAPSL) MAS GMR Aero Technic Limited (MGATL) Tshedza Mining Resource (Pty) Limited (TMR)5 Nhalalala Mining (Pty) Ltd (NML) PT Golden Energy Mines Tbk (PTGEMS) PT Tanjung Belit Bara Utama (TBBU) PT Roundhill Capital Indonesia (RCI) PT Kuansing Inti Makmur (KIM) PT Trisula Kencana Sakti (TKS) PT Manggala Alam Lestari (MAL)4 PT Borneo Indobara (BIB) PT Karya Cemerlang Persada (KCP) PT Bungo Bara Utama (BBU) PT Bara Harmonis Batang Asam (BHBA) PT Berkat Nusantara Permai (BNP) PT Nusa Indah Permai (NIP)4 PT Bumi Anugerah Semesta (BAS)9 GEMS Trading Resources Pte Limited (GEMSCR)3 (Formerly known as GEMS Coal Resources Pte Limited) Delhi Aviation Fuel Facility Private Limited (DAFF) Laqshya Hyderabad Airport Media Private Limited (Laqshya) GMR Jadcherla Expressways Limited (GJEPL)8 GMR Ulundurpet Expressways Private Limited (GUEPL)8 GMR Trading Resources Pte. Limited (GEMSCR) Asia Pacific Flight Training Academy Limited (APFT) East Delhi Waste Processing Company Private Limited (EDWPCPL)8
Enterprises where key managerial personnel or their relatives exercise significant influence (Where transactions have taken place): (As on 31.03.2014)	Welfare Trust of GMR Infra Employees (GWT) GMR Varalaxmi Foundation (GVF) GMR Family Fund Trust (GFFT) GMR Infra Ventures LLP (GIVLLP) GMR Enterprises Private Limited (GEPL) Grandhi Enterprises Private Limited (GREPL)
Jointly controlled enity: (As on 31.03.2014)	Istanbul Sabiha Gokcen Uluslararasi Havalimani Yatirim Yapim Ve Isletme Anonim Sirketi (ISG)11
Fellow Subsidiaries (Where transactions have taken place): (As on 31.03.2014)	Raxa Security Services Limited (RSSL) GMR Projects Private Limited (GPPL) GMR Hebbal Towers Private Limited (GHTPL) GMR Bannerghatta Properties Private Limited (GBPPL) GMR Sports Private Limited (GSPL) GMR Holding Malta Limited (GHML) Ravi Verma Realty Private Limited (RRPL) GEOKNO India Private Limited (GEOKNO)

CAPITAL STRUCTURE

As on 31.03.2015

Authorised Capital : NA

Issued, Subscribed & Paid-up Capital : Rs.15728.000 Million

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
7500000000	Equity Shares	Rs.1/- each	Rs. 7500.000 Million
6000000	Equity Shares	Rs.1000/- each	Rs.6000.000 Million
	TOTAL		Rs.13500.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3892430282	Equity Shares	Rs.1/- each	Rs.3892.400Million
5683351	Equity Shares	Rs.1000/- each	Rs.5683.300 Million
5683353	Equity Shares	Rs.1000/- each	Rs.5683.00Million
	TOTAL		Rs.15259.100 Million

(a) Reconciliation of the shares outstanding at the beginning and at the end of the reporting year

Equity Shares	March 31, 2014
	Number	Rs. in Million
At the beginning of the year	3,892,434,782	3892.400
Add: Issued during the year	--	--
Outstanding at the end of the year	3,892,434,782	3892.400

Preference Shares	March 31, 2014
	Number	Rs. in Million
At the beginning of the year	--	--
Add: Issued during the year
a) Series A CCPS of ` 1,000 each	5,683,351	5683.300
b) Series B CCPS of ` 1,000 each	5,683,353	5683.400
Outstanding at the end of the year
a) Series A CCPS of ` 1,000 each	5,683,351	5683.300
b) Series B CCPS of ` 1,000 each	5,683,351	5683.400

b) Terms / rights attached to equity shares

The Company has only one class of equity shares having a par value of Rs.1 per share. Every member holding equity shares there in shall have voting rights in proportion to the member's share of the paid up equity share capital. The Company declares and pays dividend in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting. In the event of liquidation of the Company, the holders of equity shares would be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the equity shareholders.

Terms / rights attached to CCPS:

"Pursuant to the equity shareholders’ approval obtained on March 20, 2014, the Company issued 11,366,704 CCPS of face value of Rs.1,000 each comprising of (a) 5,683,351 Series A CCPS each fully paid up, carrying a coupon rate of 0.001% per annum ('p.a.') and having a term of 17 months from the date of allotment and (b) 5,683,353 Series B CCPS each fully paid up, carrying a coupon rate of 0.001% p.a. and having a term of 18 months from the date of allotment, to IDFC Limited, Dunearn Investments (Mauritius) Pte Limited, GKFF Ventures, Premier Edu-Infra Solutions Private Limited and Skyron Eco- Ventures Private Limited. The Series A CCPS and Series B CCPS shall be converted into equity shares upon the expiry of their respective terms in accordance with the provisions of Chapter VII of the SEBI (Issue of Capital Disclosure Requirements) Regulations, 2009 ('ICDR Regulations'). The number of equity shares allotted to the Investors upon conversion of the Investor Securities shall be on the basis of the minimum permissible price, computed in accordance with Regulation 76 read with Regulation 71(b) of the SEBI ICDR Regulations on the conversion date.

The preference shareholders have a right to attend General Meetings of the Company and vote on resolutions directly affecting their interest. In the event of winding up, the Company would repay the preference share capital in priority to the equity shares of the Company but it does not confer any further right to participate either in profits or assets of the Company."

Shares held by the Holding Company / Ultimate Holding Company and / or their subsidiaries / associates:

Out of equity shares issued by the Company, shares held by its Holding Company, Ultimate Holding Company and their subsidiaries / associates are as below:

Particulars	March 31, 2014 Number
GMR Holdings Private Limited (`GHPL'), the Holding Company
Equity shares of ` 1 each, fully paid up	2,736,221,862
GMR Infra Ventures LLP (`GIVLLP'), an associate of the Holding Company
Equity shares of ` 1 each, fully paid up	31,321,815
GMR Enterprises Private Limited (`GEPL'), an associate of the Holding Company
Equity shares of ` 1 each, fully paid up	17,100,000
Welfare Trust of GMR Infra Employees (`GWT'), an associate of the Holding Company
Equity shares of ` 1 each, fully paid up	17,999,800

Aggregate number of shares issued for consideration other than cash during the period of five years immediately preceding the reporting date:

Particulars	March 31, 2014 Rs. In Million
Equity shares allotted as fully paid-up for consideration other than cash1	26.000

During the year ended March 31, 2010, 46,800,000 equity shares of Rs.10 each of Delhi International Airport Private Limited (‘DIAL’) were acquired from Infrastructure Development Finance Corporation Limited Infrastructure Fund - India Development Fund at a consideration of Rs.1497.200 Million, which was discharged by allotment of 26,038,216 equity shares of the Company of Rs. 1 each at an issue price of Rs. 57.50 per equity share (including Rs. 56.50 per equity share towards securities premium).

Details of shareholders holding more than 5% shares in the Company

Particulars	March 31, 2014
	Number	% holding in the class
Equity shares of ` 1 each fully paid	2,736,221,862	70.30%
GHPL
Series A CCPS of ` 1,000 each
Dunearn Investments (Mauritius) Pte Limited	3,944,084	69.40%
IDFC Limited*	209,550	3.69%
GKFF Ventures*	272,415	4.79%
Premier Edu-Infra Solutions Private Limited*	209,550	3.69%
Skyron Eco Ventures Private Limited*	1,047,752	18.43%
Series B CCPS of ` 1,000 each
Dunearn Investments (Mauritius) Pte Limited	3,944,085	69.40%
IDFC Limited*	209,550	3.69%
GKFF Ventures*	272,416	4.79%
Premier Edu-Infra Solutions Private Limited*	209,550	3.69%
Skyron Eco Ventures Private Limited*	1,047,752	18.43%

* Joint investors under the same share subscription and shareholders agreement.

As per of the Company, including its register of shareholders / members, the above shareholding represents both legal and beneficial ownership of shares

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2015	31.03.2014	31.03.2013
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	15728.000	15259.100	3892.400
(b) Reserves & Surplus	78834.700	68747.400	67964.900
(c) Money received against share warrants	1417.500	0.000	0.000
(2) Share Application money pending allotment	8896.600	0.000	0.000
Total Shareholders’ Funds (1) + (2)	104876.800	84006.500	71857.300
(3) Non-Current Liabilities
(a) long-term borrowings	33659.800	37784.300	30158.300
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	227.200	28.800	0.000
(d) long-term provisions	17.400	13.500	8.900
Total Non-current Liabilities (3)	33904.400	37826.600	30167.200
(4) Current Liabilities
(a) Short term borrowings	1460.300	2156.400	7512.000
(b) Trade payables	1608.000	2069.500	1625.500
(c) Other current liabilities	9888.600	16517.800	9662.200
(d) Short-term provisions	127.900	642.300	677.200
Total Current Liabilities (4)	13084.800	21386.000	19476.900
TOTAL	151866.000	143219.100	121501.400
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	832.800	1004.400	1060.100
(ii) Intangible Assets	0.000	40.100	28.900
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	90255.600	95193.900	68458.800
(c) Deferred tax assets (net)	0.000	21.200	183.200
(d) Long-term Loan and Advances	41252.400	23067.800	29820.300
Trade Receivable	524.000	1026.300	1113.800
(e) Other Non-current assets	7614.200	6566.000	4228.100
Total Non-Current Assets	140479.000	126919.700	104893.200
(2) Current assets
(a) Current investments	1000.000	155.400	677.000
(b) Inventories	45.500	910.300	872.200
(c) Trade receivables	1479.500	1458.600	2067.900
(d) Cash and cash equivalents	3986.400	43.000	2053.600
(e) Short-term loans and advances	2281.800	3381.500	7467.400
(f) Other current assets	2593.800	10350.600	3470.100
Total Current Assets	11387.000	16299.400	16608.200
TOTAL	151866.000	143219.100	121501.400

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2015	31.03.2014	31.03.2013
	SALES
	Income	6497.400	7862.900	14327.900
	Other Income	194.800	47.700	285.800
	TOTAL	6692.200	7910.600	14613.700
Less	EXPENSES
	Cost of Materials Consumed	333.000	920.800	2892.500
	Exceptional Items	2624.000	(3395.400)	(758.300)
	Subcontract Expenses	908.300	3085.500	6227.200
	Employees benefits expense	250.300	697.200	724.700
	Other expenses	508.700	550.400	875.700
	TOTAL	4624.300	1858.500	9961.800
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	2067.900	6052.100	4651.900
Less	FINANCIAL EXPENSES	5372.900	4087.100	3744.300
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	(3305.000)	1965.000	907.600
Less	DEPRECIATION/ AMORTISATION	200.300	84.200	83.100
	PROFIT/ (LOSS) BEFORE TAX	(3505.300)	1880.800	824.500
Less	TAX	21.200	221.800	290.000
	PROFIT/ (LOSS) AFTER TAX	(3526.500)	1659.000	534.500
	Earnings / (Loss) Per Share (Rs.)	0.35	0.43	0.14

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2015	31.03.2014	31.03.2013
Current Maturities of Long term debt	NA	58532.800	58595.200
Cash generated from operations	NA	1907.300	(590.900)
Net cash flow from operating activity	NA	1575.500	(1144.700)

KEY RATIOS

PARTICULARS		31.03.2015	31.03.2014	31.03.2013
Net Profit Margin (PAT / Sales)	(%)	(54.28)	21.10	3.73
Operating Profit Margin (PBIDT/Sales)	(%)	31.83	76.97	32.47
Return on Total Assets (PBT/Total Assets}	(%)	(5.74)	4.00	1.59
Return on Investment (ROI) (PBT/Networth)		(0.03)	0.02	0.01
Debt Equity Ratio (Total Debt /Networth)		0.33	1.17	1.34
Current Ratio (Current Asset/Current Liability)		0.87	0.76	0.85

STOCK PRICES

Face Value	Rs.1.00/-
Market Value	Rs.14.63/-

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	3892.400	15259.100	15728.000
Reserves & Surplus	67964.900	68747.400	78834.700
Money received against share warrants	1417.500	0.000	0.000
Share Application money pending allotment	8896.600	0.000	0.000
Net worth	82171.400	84006.500	94562.700
long-term borrowings	30158.300	37784.300	33659.800
Short term borrowings	7512.000	2156.400	1460.300
Total borrowings	96265.500	98473.500	35120.100
Debt/Equity ratio	1.172	1.172	0.371

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	14327.900	7862.900	6497.400
		(45.122)	(17.366)

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	14327.900	7862.900	6497.400
Profit	534.500	1659.000	(3526.500)
	3.73%	21.10%	(54.28%)

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	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	No
11	Pan Card No. of Proprietor / Partners	No
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	--
33	Market information	--
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

SECTOR OUTLOOK AND FUTURE PLAN (As on 31.03.2014)

Airport Sector

Indian aviation sector has witnessed a remarkable growth in the last decade and is likely to be the fastest growing aviation market in the world for the next 20 years. Indian airport system is poised to handle 336 million domestic

and 85 million international passengers by 2020, from the current level of 121 million domestic and 41 million international passengers, making India the third largest aviation market. According to International Air Transport

Association’s (IATA) Airline Industry Forecast 2012-2016, India’s domestic air travel market would be among the top five globally, experiencing the second highest growth rate at CAGR of 13.1%.

The second phase of growth in Indian aviation is expected to come from Tier-II and Tier-III cities. The non-metro airports presently account for only about 30 per cent of the total air traffic, which is expected to rise to 45% in

the next few years, presenting a vast market potential. With the smaller cities set to drive the air traffic growth in the country, the government is planning to build nearly 200 low-cost airports in the next 20 years to meet the demand for air travel.

Indian government has taken significant measures for providing affordable air connectivity to remote and interior areas of the country. Government is also in the process of formulating a policy for the promotion of regional and

remote-area connectivity, incentivizing Indian airlines that operate on these routes, and by code-sharing and seat credit mechanism.

The biggest event in 2014 will be the commencement or expansion of commercial operations by four global airlines – Etihad, Air Asi, SIA and Tiger Airways – along with their Indian partners. The Company also expects one more FDI deal in existing airlines. All this will bring in best global practices, greater competition, more choices for passengers and very competitive fares. The Company also expects rationalization of taxes on Aviation Turbine Fuel (ATF), tax concessions for Maintenance, Repair and overhaul (MRO), abolition of the discriminatory 5/20 Rule, promotion of No Frills Airports (NFA) in Tier lll-lv cities, creation of an independent Air Traffic Control (ATC) organization, flexibility in the use of defence airspace, codesharing between domestic carriers, and greater support to aviation training, cargo and general aviation.

INDIRA GANDHI INTERNATIONAL AIRPORT (DIAL) – DELHI (As on 31.03.2014)

Airport

The overall traffic growth for the financial year 2014-2015 is expected to remain moderate even though there may be better growth in domestic passenger segment (pax), Air Traffic Movement (ATM) and cargo. Though the efforts of the Company may boost revenues in the commercial Non-Aero business, substantial decrease in revenue is expected due to lower tariffs in the next control period and significant increase in Operating Expenses mainly on account of higher Passenger Service Fee (PSF) expenses, Repairs and Maintenance (Rand M) Expenses, Airport Operators Fee and Utility Charges (net of recover) resulting in a lower EBITDA margin.

Focus Areas for FY 2014-15

To address and contain the fall in revenues measures like maximizing nonaero revenue and enhancing cargo tonnage handling through employee engagement are being undertaken. To develop DIAL into a customer-focused organization Business Excellence (BE) culture is being actively nurtured and institutionalized.

Future Growth Plans

With Air India joining Star Alliance, IGIA is set to become an international hub for passenger traffic and cargo movement. To maximize this potential, DIAL has developed a Commercial Property Development (CPD) monetization plan including developing Office space, F&B Districts, Convention Districts and 5 Star Deluxe / Budget Hotel / service Apartments in the remaining 184 acres in four phases in the coming decade. A cargo village is being developed adding air freight stations, road feeder service and TP cargo being provided, Pharma, perishable goods and e-commerce cargo are also being promoted.

Further, to make the walk through the airport a memorable experience to the passengers and to augment non-aero revenue an international Consultancy firm has been engaged. Experience-centric commercial operations are being developed to cater to the needs of non-passengers as well. The whole gamut of visual merchandize is being refreshed for enhanced consumers connect. The Minimum Connecting Time (MCT) is being improved to maximize revenue through transfer pax.

To maximize the value from the existing assets DIAL is undertaking a capacity and damand study for T1 and T3; implementing CUSS (Common Use Self Service) technology/ tablet and mobile check-in;and implementing the recommendation of NATS (National Air Traffic Services) adding more aircraft stands and optimizing runway and taxiway utilization. The ATC tower is also being completed. With regard to airport connectivity, through enhanced Metro connectivity and decongestion at the Mahipalpur junction / stretch the surface connectivity is being improved.

By implementing carbon neutral initiatives, developing water sources and enhancing the performance of soil and l and at IGIA with stakeholder engagement, environmental management is sustained.

Besides, a review of Master Plan is being undertaken to optimize resource utilization.

Rajiv Gandhi International Airport (GHIAL) - Hyderabad Airport (As on 31.03.2014)

GHIAL is also expected to witness moderate traffic growth. Because of its strategic and geographic location, Hyderabad Airport has the potential to become the regional hub of South and Central India. It is ranked as the top international airport in the world by the ACI. It is imperative that the service standards are maintained to retain the world ranking and to make it a “Great Place To Work.”

In order to realize its full potential, the focus is now centered on growing passenger-based non-aero revenues, improve employee productivity and improving operational and cost–efficiency. Further, keeping in mind that GHIAL is expected to witness only moderate traffic growth during financial year 15, the Company will also retain its underlying single-minded focus on cash generation and conservation measures in the near term.

GMR Hyderabad Airport City Development

GMR Hyderabad International Airport Limited is planning to develop India’s first Airport City (Aerotropolis) around Hyderabad Airport with the objective of creating an ecosystem that benefits the Airport as well as the regional economy and establishes its prominence in the global arena. Master Plan for the entire Airport City has been completed and the physical infrastructure activities are already underway. The initial phase consisting of Aerospace SEZ, Retail, Business School, and Exhibition Centre etc are in various stages of planning, design and development.

Decathlon, the world’s leading sports retailer, has opened its retail store in the Airport City during the year. Schulich Business School (York University, Canada) is planning to set-up its campus in the Airport City.

The Aerospace Park, with its multi-products SEZ, is operational. MAS-GMR has a MRO facility and CFM International has an engine training facility in the SEZ. TATA Group is planning a helicopter facility in the Aerospace Park. During the year, lease agreements with new third party tenants in the Aerospace Park – Turbo jet Engines, SAS Applied Research and Lab Materials and United Technologies Corporation India have also been singed.

Maintenance, Repair and Overhaul (MRO)

The Company intends to become an Authorized Service Facility (ASF) for Bombardier Q400 aircraft in this region. Further, the Company plans to aggressively foray into the international market and, for that reason, has participated in the MRO India Conference held at Mumbai, Indo-US Aviation cooperation summit at Delhi, and Airshow at Singapore. Further, it plans to actively participate in other international MRO & Airline conferences, to assert its presence to the International community.

The Company is aiming at performing around 75 checks on various types of aircraft including C-Checks and ‘End of Lease’ checks, in the Financial Year 2014-2015.

Additionally, the Company has submitted application for FAA CFR (Federal Aviation Administration Code of Federal Regulations) 145 accreditation by the FAA.

Istanbul Sabiha Gocken International Airport (ISGIA)

- Turkey Airport

As part of the ALAR strategy, the GMR Group divested its 40% stake in ISGIA to the Malaysian Airports Holding Berhard (“MAHB”) on December 23, 2013

The Group received divestment of its 40% equity stake to MAHB in addition to reducing the proportionate debt of Rs.14120.000 Million proportionate debt of balance sheet. During the immediate period before GMR’s divestment, ISGIA enjoyed significant success through numerous initiatives on increasing commercial revenues, increasing international destinations, cash conservation and opex rationalization and led directly to the turnaround of ISGIA fortunes and for the first time, it achieved PBT positive for Jul-Sep 2013, This period was also marked with the awarding of various awards and accolades including being named as ‘Best Airport’ and also named as one of the ‘Super Brands’ of Turkey.

ENERGY SECTOR OUTLOOK FOR FY13-14 AND FUTURE (As on 31.03.2014)

PLAN

India, the fourth largest economy in the world, is also the fourth largestenergy consumer. The Power Sector in India has made rapid strides during the last six decades in the fields of generation, transmission, distribution and utilization of electricity. The installed generating capacity in the country has grown manifold from a meage 1.4 GW in 1947 to 243 GW at the end of 2014. While the conventional energy sources (which include thermal, nuclearand hydroelectricity) constitute nearly 88 per cent of the installed capacity, Renewable Energy Sources (Which include Wind, Solar and Bio-fuel amongst others) contribute the remaining amount. According to 12th Five Year Plan, 25% of the expected capacity addition is to come from renewable energy sources. There has been increased participation of private players in power generation with over Rs.3 lakh crore investments during the last 10 years.

However, this sector continues to face significant challenges on multiple fronts such as mounting distribution losses, high debt-equity ratio of private generating companies, already commissioned power plants with over ` one Million investment turning into NPAs for lack of fuel supplies etc.

The government is conscious of the difficulties faced by the power sector and has accordingly initiated steps to revive the investment environment in the sector.

DETAILED OUTLOOK (As on 31.03.2014)

Generation

India added a gross capacity of approximately 21 GW and 55 GW from conventional energy sources in the 10th and 11th Five-Year Plans respectively. The steep increase in capacity addition for the 11th Plan (2007-2012) was driven by increased private sector participation.

During the 12th Plan it is planned to add 118.5 GW including 30 GW from Renewable Energy Sources. Net capacity of about 38.4 GW has already been) added up to March 2014. Private sector is expected to contribute approximately 53% of the additional capacity from conventional energy sources.

Fuel Supply Scenario: Coal

In the past few years, Coal India Limited (“CIL”) has been unable to meet the growing needs of the Indian Power Sector where capacity has been growing at a rate higher than CIL’s production. Yet, capacity additions have taken place at a faster pace compared to the coal supply, meeting the deficit in domestic coal supply through increased imports.

Production Trends and Outlook

In order to ensure adequate coal supplies for power plants dependent on Linkage coal from CIL, the Prime Minister’s Office (PMO) IN June 2012 directed CIL to sign fuel-supply agreements (FSA) with power generation companies that have long-term power-purchase agreements with state distribution utilities. The directive is applicable to all power plants that have been commissioned since 2009-10 or would be commissioned by March 31, 2015. CIL is likely to meet the incremental demand through higher production from its mines, liquidation of its existing inventory and diversion of coal from its customers who are being supplied more coal than the quantities specified in their FSAs. Any shortfall in meeting the committed supplies through domestic sources will then be met through imports.

UNSECURED LOAN

Unsecured Loan	31.03.2015 (Rs. in Million)	31.03.2014 (Rs. in Million)
Long-term Borrowings
Indian rupee term loan from financial institutions	NA	9416.600
Indian rupee term loan from Bank	NA	9612.200
Other loans and Advances
Loan from a group company	NA	874.000
Short-term borrowings
Intercorporate deposits from related parties repayable on demand	NA	790.000
Total	NA	20692.800

Note:

During the year ended March 31, 2012, the Company had issued 2,500 0.01% non-convertible, unsecured debentures of ` 1,000,000 each to GAL. These debentures are redeemed at the request of the subscriber during the year ended March 31, 2014.

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10567488	13/04/2015	3,000,000,000.00	YES BANK LIMITED	9th Floor, Nehru Centre,, Discovery of India building, Dr. A.B. Road, Worli, Mumbai, Maharashtra -  400018, INDIA	C52668647
2	10539823	23/12/2014	1,750,000,000.00	SREI INFRASTR-UCTURE FINANCE LIMITED	VISHWAKARMA,86C,TOPSIA ROAD (SOUTH),, KOLKATA, West Bengal - 700046, INDIA	C38757407
3	10542881	20/12/2014	4,750,000,000.00	YES BANK LIMITED	9th Floor, Nehru Centre, Discovery of India Building, Dr. A.B. Road, Worli, Mumbai, Maharashtra - 4  00018, INDIA	C40376642
4	10530587	25/10/2014	1,200,000,000.00	YES BANK LIMITED	9th Floor, Nehru Centre,, Discovery of India building, Dr. A.B. Road, Worli, Mumbai, Maharashtra -  400018, INDIA	C33210816
5	10530983	24/10/2014	4,000,000,000.00	YES BANK LIMITED	9th Floor, Nehru Centre,, Discovery of India building, Dr. A.B. Road, Worli, Mumbai, Maharashtra -  400018, INDIA	C33431248
6	10531873	18/10/2014	1,500,000,000.00	Indian Overseas Bank	7th Floor, Naman Corporate Link, Plot No. 31, G Block, Bandra-Kurla Complex, Bandra -East, Mumbai, Maharashtra - 400051, INDIA	C33993742
7	10531797	29/09/2014	3,300,000,000.00	YES BANK LIMITED	9th Floor, Nehru Centre,, Discovery of India building, Dr. A.B. Road, Worli, Mumbai, Maharashtra -  400018, INDIA	C33938291
8	10520952	23/08/2014	3,000,000,000.00	YES BANK LIMITED	9th Floor, Nehru Centre, Discovery of India Building, Dr. A.B. Road, Worli, Mumbai, Maharashtra - 400018, INDIA	C21500103
9	10505143	25/04/2014	700,000,000.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR.  ANNIE BESANT ROAD, WORLI, MUMBAI, Maharashtra - 400018, INDIA	C08464422
10	10467993	27/12/2013	10,000,000,000.00	IDBI TRUSTEESHIP SERVICES LIMITED	Asian Bldg., Ground Floor, 17, R.Kamani Marg,, Ballard Estate,, MUMBAI, Maharashtra - 400001, INDIA	B92671908

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 paymets 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.69.89
UK Pound	1	Rs.99.10
Euro	1	Rs.70.12

INFORMATION DETAILS

Information Gathered by :	PRP
Analysis Done by :	KSH
Report Prepared by :	SUD

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	5
--PROFITABILITY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	YES
--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.