MIRA INFORM REPORT

Report No. :	315129
Report Date :	27.03.2015

IDENTIFICATION DETAILS

Name :	BENNETT COLEMAN AND COMPANY LIMITED
Registered Office :	The Times of India Building, D.N. Road, Mumbai – 400 001, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	29.11.1913
Com. Reg. No.:	11-000391
Capital Investment / Paid-up Capital :	Rs.2869.600 million
CIN No.: [Company Identification No.]	U22120MH1913PLC000391
IEC No.:	Not Available
TIN No.:	29060084369
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AAACB4373Q
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is primarily engaged in the business of publication of newspapers. The Company publishes the highest selling English broadsheet daily in the world, i.e., The Times of India. Apart from this the Company publishes newspapers like The Economic Times, Navbharat Times, Maharashtra Times, etc. It also houses three television channels zoOm ET Now and Romedy Now.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Aa (82)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 198640000
Status :	Excellent
Payment Behaviour :	Regular
Litigation :	Exist
Comments :	Subject is a flagship company of ‘Times Group’. It is one of the oldest and highly respected publishing house in the country. Financial position of the company is sound. Fundamentals of the company are strong and healthy. The company has a strong financial risk profile, marked by large net worth, comfortable gearing, strong debt protection metrics and healthy liquidity. Trade relations are reported to be praiseworthy. Business is active. Payments are reported to be regular and as per commitments. The company can be considered excellent 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 – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
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	CRISIL
Rating	Long term rating : AAA
Rating Explanation	Highest degree of safety and carry lowest credit risk.
Date	02.01.2015

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 31-03-2014.

LOCATIONS

Registered Office :	The Times of India Building, D.N. Road, Mumbai – 400 001, Maharashtra, India
Tel. No.:	91-22-66353535/ 66354460/ 66354159
Mobile No.:	91-9819128038 (Mr. Subramanium)
Fax No.:	91-22-22620144/ 22731737
E-Mail :	padmakar.rao@timesgroup.com kausik.nath@timesgroup.com subramaniam.dharmarajan@timesgroup.com corporate.secretarial@timesgroup.com
Website :	www.timesgroup.com

DIRECTORS

AS ON 25.08.2014

Name :

Mr. Samir Jain

Designation :

Managing Director

Address :

15, Moti Lal Nehru Marg, New Delhi - 110 011, India

Date of Birth/Age :

22.06.1954

Qualification:

B.A

Date of Appointment :

01.02.2015

PAN No.:

AEHPJ3016Q

DIN No.:

00001337

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	U74899DL1982GAP144061	TIMES FOR INDIA ORG	Director	15/10/1982	15/10/1982	-	Active	NO
2	L65929DL1947PLC001240	P N B FINANCE AND INDUSTRIES LIMITED	Director	29/11/1983	29/11/1983	-	Active	NO
3	U22120MH1913PLC000391	BENNETT COLEMAN AND COMPANY LIMITED	Managing director	01/02/2015	01/02/1985	-	Active	NO
4	U93000DL2013GAT248515	GENNEXT TRUSTEESHIP COMPANY PRIVATE LIMITED	Director	19/02/2013	19/02/2013	-	Active	NO

Name :

Mrs. Indu Jain

Designation :

Whole-time Director

Address :

H. No.6, Sardar Patel Marg, New Delhi – 110 021, India

Date of Birth/Age :

08.09.1936

Qualification:

Professional

Date of Appointment :

01.08.2014

PAN No.:

AEHPJ3014N

DIN No.:

00004040

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	U22120MH1913PLC000391	BENNETT COLEMAN AND COMPANY LIMITED	Whole-time director	01/08/2014	13/05/1999	-	Active	NO
2	U74899DL1982GAP144061	TIMES FOR INDIA ORG	Director	12/09/1999	12/09/1999	-	Active	NO
3	U80302DL1984NPL019475	TIMES CENTRE FOR MEDIA AND MANAGEMENT STUDIES	Director	08/11/2002	08/11/2002	11/12/2009	Active	NO

Name :

Mr. Vineet Jain

Designation :

Managing Director

Address :

15, Moti Lal Nehru Marg, New Delhi - 110 011, India

Date of Birth/Age :

12.02.1966

Qualification:

Management Graduate from American Uni.of Switzerland.

Date of Appointment :

27.06.2013

PAN No.:

AEHPJ3012L

DIN No.:

00003962

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	U22120MH1913PLC000391	BENNETT COLEMAN AND COMPANY LIMITED	Managing director	27/06/2013	27/06/1993	-	Active	NO
2	U74899DL1947PLC103246	THE PRESS TRUST OF INDIA LIMITED	Director	09/12/1996	09/12/1996	-	Active	NO
3	U80302DL1984NPL019475	TIMES CENTRE FOR MEDIA AND MANAGEMENT STUDIES	Director	17/08/1998	17/08/1998	11/12/2009	Active	NO
4	U74899DL1982GAP144061	TIMES FOR INDIA ORG	Director	23/10/1998	23/10/1998	-	Active	NO
5	U74999DL1999PLC135531	TIMES INTERNET LIMITED	Director	04/05/1999	04/05/1999	-	Active	NO
6	U99999DL1951PLC002023	THE INDIAN NEWSPAPER SOCIETY.	Director	20/09/1999	20/09/1999	06/12/2006	Active	NO
7	L65920MH1994PLC080618	HDFC BANK LIMITED	Nominee director	14/04/2001	14/04/2001	27/12/2008	Active	NO
8	U72900MH2002PLC134966	TIMES INFOTAINMENT MEDIA LIMITED	Director	31/12/2002	31/12/2002	-	Active	NO
9	L74899DL1942PLC000644	BHARAT NIDHI LIMITED	Director	27/09/2006	28/04/2003	16/07/2014	Active	NO
10	U22120MH2003PTC142239	WORLDWIDE MEDIA PRIVATE LIMITED	Director	08/03/2004	08/03/2004	30/10/2013	Active	NO
11	U22121DL2004PLC126751	TIMES JOURNAL INDIA LIMITED	Director	02/06/2004	02/06/2004	03/06/2010	Active	NO
12	U32109MH1986PLC168454	TIMES GLOBAL BROADCASTING COMPANY LIMITED	Director	31/03/2005	31/03/2005	-	Active	NO
13	U74899DL2000PLC103722	OPTIMAL MEDIA SOLUTIONS LIMITED	Director	25/09/2006	25/05/2006	-	Amalgamated	NO
14	L92140MH1999PLC120516	ENTERTAINMENT NETWORK (INDIA) LIMITED	Director	03/09/2007	19/01/2007	-	Active	NO
15	U74992MH2006PLC163048	ZOOM ENTERTAINMENT NETWORK LIMITED	Director	18/06/2007	07/05/2007	-	Active	NO
16	U72200DL2008PLC184870	TIMES WEBSOL LIMITED	Director	14/11/2008	14/11/2008	-	Amalgamated	NO
17	U51109DL2008PLC184883	A2ZSHOPPING LIMITED	Director	14/11/2008	14/11/2008	-	Amalgamated	NO
18	U72900DL2008PLC185013	TIMESMOBILE LIMITED	Director	18/11/2008	18/11/2008	-	Amalgamated	NO
19	U80301DL2007PLC165200	TIMES CENTRE FOR LEARNING LIMITED	Director	25/09/2013	12/10/2012	-	Active	NO

Name :

Mr. Ravindra Dhariwal

Designation :

Whole Time Director

Address :

Aashray Farm, Khasra No.1523, Asola Village, New Delhi – 110 030, India

Date of Birth/Age :

11.09.1952

Qualification:

B. Tech, M.B.A-Marketing and Finance

Date of Appointment :

01.04.2011

PAN No.:

ADPPD1049Q

DIN No.:

00003922

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	U22120MH1913PLC000391	BENNETT COLEMAN AND COMPANY LIMITED	Whole-time director	01/04/2011	01/01/2002	-	Active	NO
2	U80302DL1984NPL019475	TIMES CENTRE FOR MEDIA AND MANAGEMENT STUDIES	Director	08/11/2002	08/11/2002	12/04/2013	Active	NO
3	L92140MH1999PLC120516	ENTERTAINMENT NETWORK (INDIA) LIMITED	Director	31/12/2002	31/12/2002	09/02/2015	Active	NO
4	U22121DL2004PLC126751	TIMES JOURNAL INDIA LIMITED	Director	02/06/2004	02/06/2004	03/06/2010	Active	NO
5	U22120MH1985PLC036799	VARDHAMAN PUBLISHERS LIMITED	Director	07/06/2006	07/06/2006	14/07/2014	Active	NO
6	U65990MH1983PLC029209	BANHEM ESTATES AND IT PARKS LIMITED	Director	07/06/2006	07/06/2006	04/07/2014	Active	NO
7	U02212KA2003PLC032182	TIMES VPL LIMITED	Director	03/10/2007	18/08/2006	-	Amalgamated	NO
8	U32109MH1986PLC168454	TIMES GLOBAL BROADCASTING COMPANY LIMITED	Director	13/09/2006	13/09/2006	27/02/2015	Active	NO
9	U74899DL1982GAP144061	TIMES FOR INDIA ORG	Director	12/09/2007	16/10/2006	03/06/2010	Active	NO
10	U99999DL1951PLC002023	THE INDIAN NEWSPAPER SOCIETY.	Director	27/10/2006	27/10/2006	-	Active	NO
11	U72900MH2002PLC134966	TIMES INFOTAINMENT MEDIA LIMITED	Whole-time director	04/09/2014	04/12/2006	-	Active	NO
12	U24999MH1948NPL006309	AUDIT BUREAU OF CIRCULATIONS	Director	19/01/2007	19/01/2007	26/09/2011	Active	NO
13	U74140DL2007PLC162846	BENNETT ADVISORY SERVICES LIMITED	Director	03/05/2007	03/05/2007	03/06/2010	Active	NO
14	U80301DL2007PLC165200	TIMES CENTRE FOR LEARNING LIMITED	Director	26/06/2007	26/06/2007	03/06/2010	Active	NO
15	L22121GJ1943PLC000183	THE SANDESH LIMITED	Director	20/09/2007	30/07/2007	14/03/2013	Active	NO
16	U74999DL1999PLC135531	TIMES INTERNET LIMITED	Director	07/09/2009	29/12/2008	02/03/2015	Active	NO
17	U01229DL2007PTC194698	AQUAGRI PROCESSING PRIVATE LIMITED	Director	29/09/2010	16/11/2009	07/10/2013	Active	NO
18	U74992MH2006PLC163048	ZOOM ENTERTAINMENT NETWORK LIMITED	Director	30/09/2010	25/11/2009	12/04/2013	Active	NO
19	U99999MH2005PLC157078	TIMES INNOVATIVE MEDIA LIMITED	Director	07/09/2010	18/01/2010	03/02/2015	Active	NO
20	U80904DL2010NPL200262	TIMES SCHOOL OF MARKETING AND MANAGEMENT	Director	16/03/2010	16/03/2010	12/04/2013	Active	NO
21	U80900DL2010NPL200366	TIMES SCHOOL OF JOURNALISM	Director	18/03/2010	18/03/2010	12/04/2013	Active	NO
22	U92412MH2010PLC202021	ZOOM MOVIES (TV) LIMITED	Director	13/04/2010	13/04/2010	05/03/2014	Active	NO
23	U74999DL2010PTC203419	TIM DELHI AIRPORT ADVERTISING PRIVATE LIMITED	Director	01/06/2010	01/06/2010	05/08/2010	Active	NO
24	U92412MH2010PLC208138	MEDIA NETWORK AND DISTRIBUTION (INDIA) LIMITED	Director	24/09/2010	24/09/2010	04/07/2014	Active	NO
25	U74900DL2009PTC192566	CAPITOL ART HOUSE PRIVATE LIMITED	Director	27/09/2012	13/06/2012	-	Active	NO
26	U93020DL2013PTC248087	INSPIRED EMPORIO SALON PRIVATE LIMITED	Director	08/02/2013	08/02/2013	-	Active	NO
27	U74999MH2008PTC179149	RML INFORMATION SERVICES PRIVATE LIMITED	Director	22/02/2013	22/02/2013	14/10/2013	Active	NO
28	U22121KA2006PLC062825	METROPOLITAN MEDIA COMPANY LIMITED	Director	23/09/2013	05/08/2013	-	Active	NO
29	U65990MH2008PLC178673	ARTHA REAL ESTATE CORPORATION LIMITED	Director	23/08/2014	19/06/2014	-	Active	NO

Name :

Mrs. Kalpana Jaisingh Morparia

Designation :

Director

Address :

B-92, Ocean Gold Chs, Twin Tower Lane, Prabhadevi, Mumbai – 400 025, Maharashtra, India

Date of Birth/Age :

30.05.1949

Qualification:

B.Sc. LL.B.

Date of Appointment :

25.08.2014

DIN No.:

00046081

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	U72900MH1993PLC131900	ICICI SECURITIES PRIMARY DEALERSHIP LIMITED	Director	27/04/2001	27/04/2001	07/09/2007	Active	NO
2	U66010MH2000PLC127837	ICICI PRUDENTIAL LIFE INSURANCE COMPANY LIMITED	Director	29/11/2001	29/11/2001	29/08/2008	Active	NO
3	U67200MH2000PLC129408	ICICI LOMBARD GENERAL INSURANCE COMPANY LIMITED	Nominee director	22/03/2002	22/03/2002	29/08/2008	Active	NO
4	L65190GJ1994PLC021012	ICICI BANK LIMITED	Whole-time director	03/05/2002	03/05/2002	01/06/2007	Active	NO
5	U99999DL1993PLC054135	ICICI PRUDENTIAL ASSET MANAGEMENT COMPANY LIMITED	Nominee director	29/06/2006	27/10/2005	29/08/2008	Active	NO
6	U67120MH1995PLC086241	ICICI SECURITIES LIMITED	Additional director	04/04/2007	04/04/2007	15/10/2008	Active	NO
7	L85195TG1984PLC004507	DR.REDDY'S LABORATORIES LIMITED	Director	31/07/2014	05/06/2007	-	Active	NO
8	U22120MH1913PLC000391	BENNETT COLEMAN AND COMPANY LIMITED	Director	25/08/2014	14/09/2007	-	Active	NO
9	L72200TG1975PLC001970	CMC LIMITED	Director	24/06/2008	11/03/2008	-	Active	NO
10	U72900MH2000PTC124073	J. P. MORGAN SERVICES INDIA PRIVATE LIMITED	Director	29/09/2008	18/09/2008	-	Active	NO
11	U65999MH2006PTC164773	JPMORGAN ASSET MANAGEMENT INDIA PRIVATE LIMITED	Director	23/07/2010	19/12/2008	-	Active	NO
12	L15140MH1933PLC002030	HINDUSTAN UNILEVER LIMITED	Additional director	09/10/2014	09/10/2014	-	Active	NO

Name :

Mr. Shrijeet Ramakanta Mishra

Designation :

Whole Time Director

Address :

301, Gitanjali Gardens, 3^rd Floor, 58E, Nepean Sea Road, Rungta Lane, Mumbai – 400 006, Maharashtra, India

Date of Birth/Age :

22.04.1965

Qualification:

B.A, PGDM- IIM Ahmedabad.

Date of Appointment :

11.08.2011

PAN No.:

ABXPM9824C

DIN No.:

01894081

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	U67120MH1994PTC082045	DIGITAL SECURITIES PRIVATE LIMITED	Director	24/06/2008	07/12/2007	27/07/2011	Amalgamated	NO
2	U65990MH1958PLC011060	HINDLEVER TRUST LIMITED	Director	22/06/2009	01/08/2008	27/07/2011	Active	NO
3	U24246MH1981PLC261125	PONDS EXPORTS LIMITED	Director	22/07/2010	22/03/2010	27/07/2011	Active	NO
4	U22120MH1913PLC000391	BENNETT COLEMAN AND COMPANY LIMITED	Whole-time director	11/08/2011	11/08/2011	-	Active	NO
5	U02212KA2003PLC032182	TIMES VPL LIMITED	Director	26/09/2012	28/05/2012	-	Amalgamated	NO
6	U74999MH1924NPL001128	BOMBAY CHAMBER OF COMMERCE AND INDUSTRY	Director	23/06/2012	23/06/2012	16/06/2014	Active	NO
7	U80301DL2007PLC165200	TIMES CENTRE FOR LEARNING LIMITED	Director	25/09/2013	12/10/2012	-	Active	NO
8	U22120MH1985PLC036799	VARDHAMAN PUBLISHERS LIMITED	Director	16/09/2013	23/10/2012	-	Active	NO
9	U74300MH2008PLC184669	BRAND EQUITY TREATIES LIMITED	Director	25/09/2013	25/10/2012	-	Active	NO
10	L65920MH1989PLC054398	TIMES GUARANTY LIMITED	Director	30/09/2013	29/10/2012	29/01/2015	Active	NO
11	U74990MH2009PTC190636	MIND GAMES SHOWS PRIVATE LIMITED	Additional director	06/11/2012	06/11/2012	23/09/2013	Active	NO
12	U74140MH2008NPL187724	CENTRE FOR EXCELLENCE IN MANAGEMENT TRAINING AND DEVELOPMENT	Additional director	06/11/2012	06/11/2012	22/07/2014	Active	NO
13	U74900MH2012PLC237666	TIMES CONFERENCES LIMITED	Director	21/08/2014	07/11/2012	-	Active	NO
14	U32109MH1986PLC168454	TIMES GLOBAL BROADCASTING COMPANY LIMITED	Director	25/09/2013	10/12/2012	-	Active	NO
15	U74992MH2006PLC163048	ZOOM ENTERTAINMENT NETWORK LIMITED	Director	25/09/2013	10/12/2012	-	Active	NO
16	U22120MH2003PTC142239	WORLDWIDE MEDIA PRIVATE LIMITED	Additional director	01/04/2013	01/04/2013	10/09/2013	Active	NO
17	U22121KA2006PLC062825	METROPOLITAN MEDIA COMPANY LIMITED	Director	23/09/2013	05/08/2013	-	Active	NO
18	U74140DL2014NPL270329	BENNETT INSTITUTE OF HIGHER EDUCATION	Director	12/08/2014	12/08/2014	-	Active	NO

Name :

Mr. Meleveetil Damodaran

Designation :

Director

Address :

D-8/3, D Block, Vasant Vihar, New Delhi – 110 057, India

Date of Birth/Age :

04.05.1947

Qualification:

B. Tech, M.B.A-Marketing and Finance

Date of Appointment :

25.08.2014

DIN No.:

02106990

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	U67190WB2002PLC095455	SAHAJ E-VILLAGE LIMITED	Director	27/01/2009	10/06/2008	21/07/2010	Active	NO
2	L35911DL1984PLC017354	HERO MOTOCORP LIMITED	Director	05/08/2014	16/06/2008	-	Active	NO
3	U74140DL2008PTC180832	EQUINOX ADVISORS PRIVATE LIMITED	Director	14/07/2008	14/07/2008	01/01/2012	Active	NO
4	L85110KA1930PLC000124	ING VYSYA BANK LIMITED	Director	04/09/2009	21/07/2008	-	Active	NO
5	L64200MH1986PLC041370	TECH MAHINDRA LIMITED	Director	01/08/2014	22/07/2008	-	Active	NO
6	U67120MH1998PTC114377	ING INVESTMENT MANAGEMENT (INDIA) PRIVATE LIMITED	Director	29/09/2008	28/08/2008	31/05/2011	Active	NO
7	U80301AP2003NPL042195	GMR VARALAKSHMI FOUNDATION	Director	30/09/2009	03/08/2009	16/06/2011	Active	NO
8	L72200AP1987PLC007564	SATYAM COMPUTER SERVICES LIMITED	Director	21/12/2010	09/12/2009	01/04/2012	Amalgamated	NO
9	L45201KA1995PLC018475	SOBHA LIMITED	Director	11/07/2014	29/01/2010	-	Active	NO
10	U60232DL2006GOI155068	DEDICATED FREIGHT CORRIDOR CORPORATION OF INDIA LIMITED	Director	14/05/2010	14/05/2010	08/04/2011	Active	NO
11	U63032KL1972GOI002414	COCHIN SHIPYARD LIMITED	Nominee director	23/06/2010	23/06/2010	28/01/2011	Active	NO
12	U85191WB2010PTC151530	GLOCAL HEALTHCARE SYSTEMS PRIVATE LIMITED	Director	06/12/2010	06/12/2010	-	Active	NO
13	U85100TN2008PLC070179	AVN AROGYA HEALTH CARE LIMITED	Director	02/03/2011	02/03/2011	23/12/2011	Active	NO
14	L17120MH1990PLC058361	S KUMARS NATIONWIDE LIMITED	Additional director	28/03/2011	28/03/2011	08/10/2012	Active	NO
15	U34102PN1989PLC014807	RSB TRANSMISSIONS (I) LIMITED	Additional director	19/09/2011	19/09/2011	06/08/2012	Active	NO
16	U67190MH2011PTC218046	LANDT INFRA INVESTMENT PARTNERS ADVISORY PRIVATE LIMITED	Director	26/11/2012	11/10/2011	30/05/2014	Active	NO
17	U34100TN2009PLC071439	TVS AUTOMOBILE SOLUTIONS LIMITED	Director	29/09/2012	19/12/2011	08/07/2014	Active	NO
18	U74920KA2012PTC062391	EXCELLENCE ENABLERS PRIVATE LIMITED	Director	03/02/2012	03/02/2012	-	Active	NO
19	L27020MH1958PLC011238	HINDALCO INDUSTRIES LIMITED	Director	11/09/2012	16/04/2012	14/01/2014	Active	NO
20	L26940MH2000PLC128420	ULTRATECH CEMENT LIMITED	Director	30/08/2012	16/04/2012	20/06/2014	Active	NO
21	U22120MH1913PLC000391	BENNETT COLEMAN AND COMPANY LIMITED	Director	25/08/2014	23/05/2012	-	Active	NO
22	U67190TN2006PLC059527	L&T INFRASTRUCTURE FINANCE COMPANY LIMITED	Director	05/08/2013	17/07/2012	24/07/2014	Active	NO
23	L99999MH1946PLC004768	LARSEN AND TOUBRO LIMITED	Director	22/08/2014	22/10/2012	-	Active	NO
24	L29110UP1995PLC041834	TRIVENI TURBINE LIMITED	Director	01/08/2013	10/04/2013	09/09/2013	Active	NO
25	L67120MH1987PLC042363	CRISIL LIMITED	Director	17/04/2014	14/01/2014	-	Active	NO
26	U67190MH2006FTC163188	EXPERIAN CREDIT INFORMATION COMPANY OF INDIA PRIVATE LIMITED	Nominee director	29/09/2014	19/08/2014	-	Active	NO
27	U80903KA2014NPL073297	PARAMPARA FAMILY BUSINESS INSTITUTE	Additional director	01/09/2014	01/09/2014	-	Active	NO

Name :

Mr. Arunabh Das Sharma

Designation :

Whole Time Director

Address :

W-129, Greater Kailash - 1, New Delhi – 110 048, India

Date of Birth/Age :

17.03.1968

Qualification:

Graduation in Economics, IIM Kolkata

Date of Appointment :

27.09.2013

PAN No.:

AAAAA1234A

DIN No.:

03464498

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	U02212KA2003PLC032182	TIMES VPL LIMITED	Director	26/09/2012	28/05/2012	-	Amalgamated	NO
2	U74900MH2012PLC237666	TIMES CONFERENCES LIMITED	Director	21/08/2014	07/11/2012	-	Active	NO
3	U22120MH1913PLC000391	BENNETT COLEMAN AND COMPANY LIMITED	Whole-time director	27/09/2013	07/11/2012	-	Active	NO
4	U22121KA2006PLC062825	METROPOLITAN MEDIA COMPANY LIMITED	Director	23/09/2013	05/08/2013	-	Active	NO
5	U91200MH1985GAP037820	THE ADVERTISING STANDARDS COUNCIL OF INDIA	Director	11/09/2014	11/09/2014	-	Active	NO

Name :

Mr. Sanjay Kapoor

Designation :

Director

Address :

709-A, Beverly Park-1, DLF-II, Gurgaon – 122 002, Haryana, India

Date of Birth/Age :

28.02.1962

Date of Appointment :

25.08.2014

DIN No.:

01973450

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	U32308DL2007PLC161809	IFFCO KISAN SANCHAR LIMITED	Director	05/09/2008	23/01/2008	30/06/2009	Active	NO
2	U92100DL2007PLC170574	INDUS TOWERS LIMITED	Director	26/06/2009	17/04/2009	19/07/2013	Active	NO
3	U22120MH1913PLC000391	BENNETT COLEMAN AND COMPANY LIMITED	Director	25/08/2014	11/11/2013	-	Active	NO
4	L74899DL1995PLC067827	PVR LIMITED	Director	29/09/2014	31/01/2014	-	Active	NO
5	U00000DL2000PLC104823	MICROMAX INFORMATICS LIMITED	Director	03/09/2014	12/08/2014	-	Active	NO
6	AAB-7532	Z-AXIS MANAGEMENT CONSULTANTS AND STRATEGIC ADVISORS LIMITED LIABILITY PARTNERSHIP	Designated Partner	07/09/2013	07/09/2013	-	Active	NO

Name :

Mr. Satyan Gajwani

Designation :

Whole-time director

Address :

15, Motilal Nehru Marg, New Delhi – 110 011, India

Date of Appointment :

19.09.2014

DIN No.:

02691483

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	U92100DL2005PLC173555	TIMES BUSINESS SOLUTIONS LIMITED	Director	30/09/2009	01/06/2009	-	Amalgamated	NO
2	U74999DL1999PLC135531	TIMES INTERNET LIMITED	Director	20/02/2014	25/08/2009	-	Active	NO
3	U72200DL2008PLC184870	TIMES WEBSOL LIMITED	Director	07/09/2009	25/08/2009	-	Amalgamated	NO
4	U72900DL2008PLC185013	TIMESMOBILE LIMITED	Director	07/09/2009	25/08/2009	-	Amalgamated	NO
5	U51109DL2008PLC184883	A2ZSHOPPING LIMITED	Director	07/09/2009	25/08/2009	-	Amalgamated	NO
6	U22229DL2006PLC152675	CITIZEN MEDIA LIMITED	Director	30/08/2010	30/08/2010	21/12/2012	Active	NO
7	U72900DL2012PLC241148	TIMES DEALS LIMITED	Director	27/08/2012	27/08/2012	20/02/2013	Active	NO
8	U72900DL2012PLC241121	TIMES CITY LIMITED	Director	27/08/2012	27/08/2012	20/02/2013	Active	NO
9	U93000DL2013PLC248555	TIMES JOBS LIMITED	Director	20/02/2013	20/02/2013	-	Active	NO
10	U72300UP2014PTC065985	NILAM SURESH MEDIATEK PRIVATE LIMITED	Director	10/09/2014	10/09/2014	-	Active	NO
11	U22120MH1913PLC000391	BENNETT COLEMAN AND COMPANY LIMITED	Whole-time director	19/09/2014	19/09/2014	-	Active	NO
12	U64202KA2004PTC035042	AKUATE INTERNET SERVICES PRIVATE LIMITED	Nominee director	07/11/2014	07/11/2014	27/01/2015	Active	NO
13	U74999MH2014PLC259667	DIGITAL CLASSIFIEDS LIMITED	Director	25/11/2014	25/11/2014	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Kausik Nath
Designation :	Company Secretary
Address :	A-202, Sea View Building, Charkop, Sector 8, Kandivali (West), Mumbai - 400 067, Maharashtra, India
Date of Birth/Age :	23.06.1964
Date of Appointment :	06.03.2012
PAN No.:	AACPN1272B
Name :	Mr. Shankar Narayan Ranganathan
Designation :	Chief Financial Officer
Address :	103, Solitaire, Hiranandani Gardens, Powai, Mumbai – 400 076, Maharashtra, India
Date of Appointment :	01.04.2014
PAN No.:	AACPN1272B

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 25.08.2014

Names of Shareholders	No. of Shares
Sanmati Properties Limited, India	27981000
Bharat Nidhi Limited, India	70041600
PNB Finance and Industries Limited, India	26665848
Vineet Jain	1642248
Samir Jain	7200
Meera Jain	943200
Camac Commercial Company Limited, India	38161548
Arth Udyog Limited, India	26719848
Jacaranda Corporate Services Limited, India	25632000
T.M. Investments Limited, India	17093016
Ashok Viniyoga Limited, India	51707916
Trishla Jain	360000
Total	286955424

AS ON 25.08.2014

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	98.97
Directors or relatives of directors	1.03
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is primarily engaged in the business of publication of newspapers. The Company publishes the highest selling English broadsheet daily in the world, i.e., The Times of India. Apart from this the Company publishes newspapers like The Economic Times, Navbharat Times, Maharashtra Times, etc. It also houses three television channels zoOm ET Now and Romedy Now.

Products/ Services :

ITC Code No.	Product/ Services Descriptions
99611512	Newspapers and Periodicals in print
99836310	Sale of Advertising space in Print media
99836320	Sale of Advertising space in TV

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Available

Imports :

Not Available

Terms :

Not Available

PRODUCTION STATUS: NOT APPLICABLE

GENERAL INFORMATION

Suppliers :

Reference :	Not Available
Name of the Person :	Not Available
Contact No.:	Not Available
Since How Long Known :	Not Available
Experience :	Not Available
Maximum Limit Dealt :	Not Available

Customers :

Reference :	Not Available
Name of the Person :	Not Available
Contact No.:	Not Available
Since How Long Known :	Not Available
Experience :	Not Available
Maximum Limit Dealt :	Not Available

No. of Employees :

Not Available

Bankers :

Banker Name	State Bank of India
Branch Address	Commercial Branch, Justice G.N. Vaidya Marg, Mumbai – 400 023, Maharashtra, India
Person Name (With Designation)	Not Available
Contact Number	Not Available
Name of Account Holder	Not Available
Account Number	Not Available
Account Since (Date/Year of Account Opening)	Not Available
Average Balance Maintained (If Possible)	Not Available
Credit Facilities Enjoyed (If any)	Not Available
Account Operation	Not Available
Remarks (If any)	Not Available

· The Hong Kong and Shanghai Banking Corporation Limited, Hong Kong Bank Building, 52/60, Mahatma Gandhi Road, Fort, Mumbai – 400 001, Maharashtra, India

· United Bank of India, 25, Sir P M Road, Mumbai, Maharashtra, India

· Punjab National Bank, Black House. Fort, Mumbai – 400 001, Maharashtra, India

· Standard Chartered Bank (act as agent for itself and on behalf of other lenders), 90, Mahatma Gandhi Road, Fort, Mumbai – 400 001, Maharashtra, India

Facilities:

SECURED LOANS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
SHORT TERM BORROWINGS
Rupee Term Loans from Banks (Secured against hypothecation of inventories and book debts)	2370.000	151.600
Total	2370.000	151.600

Banking Relations :	--
Auditors 1 :
Name :	S.R. Batliboi and Associates Chartered Accountants
Address :	14^th Floor, The Ruby, 29, Senapati Bapat Marg, Dadar (West), Mumbai, Maharashtra, India
Income-tax PAN of auditor or auditor's firm :	ACHFS9118A
Auditors 2 :
Name :	Lodha and Company Chartered Accountants
Address :	6, Karim Chambers, 40, Ambalala Doshi Marg, Mumbai – 400 023, Maharashtra, India
Income-tax PAN of auditor or auditor's firm :	AABFL1893K
Memberships :	Not Available
Collaborators :	Not Available
Subsidiary Companies, including step down subsidiaries :	A2zShopping Limited (merged into Times Internet Limited with appointed date April 1, 2012) Amrita Estates Private Limited Ananta Properties Private Limited Alternate Brand Solutions (India) Limited Artha Broking Services Limited (upto March 28, 2014) Artha Commodities Limited (upto March 28, 2014) Artha Credit Private Limited (upto August 4, 2013) Artha Distribution Services Limited (upto March 28, 2014) Artha Financial Services Limited (upto March 28, 2014) Artha Forex Services Limited (upto February 14, 2014) Artha Insurance Broking Services Limited (upto March 28, 2014) Artha Network Services Limited (upto December 30, 2013) Artha Reality Private Limited (upto January 21, 2014) BCCL International Events Private Limited Bennett Broadcasting and Distribution Services Limited (BBDSL) Brand Equity Treaties Limited Centre for Excellence in Management Training and Development Dharmayug Investments Limited Entertainment Network (India) Limited (ENIL) Light Feather Films Limited (from February 5, 2014) Magic Bricks Realty Services Limited (from August 19, 2013) Media Network and Distribution (India) Limited (MNDIL) Metropolitan Media Company Limited Mind Games Shows Private Limited Mirchi Movies (India) Limited One Golden Square Creative Limited (up to December 31, 2013) Satyam Properties and Finance Limited Speaking Tree Properties Limited Times Box TV Media PTE Limited Times Business Solutions Limited Times Centre for Learning Limited Times City Limited Times Conferences Limited Times Deals Limited Times Digital Limited Times Global Broadcasting Company Limited (TGBCL) Times Guaranty Limited Times Infotainment Media Limited Times Innovative Media Limited Times Internet (UK) Limited, UK Times Internet Inc., USA Times Internet Limited Times Jobs Limited Times Journal India Limited Times Mobile Limited Times Websol Limited Times VPL Limited (merged into Metropolitan Media Company Limited with appointed date April 1, 2012 and effective date August 22, 2013) TIM Delhi Airport Advertising Private Limited TIML Global Limited TIML Golden Square Limited (up to December 31, 2013) TIML Radio Holdings Limited (up to December 31, 2013) TIML Digital Radio Limited (up to December 31, 2013) TIML Radio Limited (up to December 31, 2013) Vardhaman Publishers Limited Worldwide Media Private Limited Zoom Entertainment Network Limited
Joint Ventures :	Aegon Religare Life Insurance Company Limited
Enterprises owned or having significant influence by Key Managerial Personnel (ESM) :	21st Century Constructions Limited Aadidev Properties Limited Anagha Estates Limited Ativeer Properties Limited Banhem Estates and IT Parks Limited Bennett Property Holdings Company Limited (BPHCL) Cyber Space Infotainment Limited Nandeeshwar Properties Limited Rajdhani Printers Limited Shubhan Properties Limited Suryashankar Properties Limited Sushena Properties Limited
Associate Companies :	TimesofMoney Limited Daiki Brands Private Limited (from June 19, 2012) M N & C Supply Links Retail India Private Limited (from October 31, 2013) Lifespan Wellness Private Limited (from January 21, 2013) Jumboten Marketplace India Private Limited (from November 30, 2013) Brand Storm India Marketing Private Limited (from October 29, 2013) Provogue Personal Care Private Limited (from October 17, 2013)

CAPITAL STRUCTURE

AS ON 25.08.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
300000000	Equity Shares	Rs.10/- each	Rs.3000.000 million

Issued, Subscribed and Paid-up Capital :

No. of Shares	Type	Value	Amount
286955424	Equity Shares	Rs.10/- each	Rs.2869.600 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	2869.600	2869.600	2869.600
(b) Reserves & Surplus	66654.100	58644.000	51449.300
(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)	69523.700	61513.600	54318.900
(3) Non-Current Liabilities
(a) Long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	1930.900	1151.500	900.100
(c) Other long term liabilities	0.000	0.000	0.000
(d) Long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	1930.900	1151.500	900.100
(4) Current Liabilities
(a) Short term borrowings	3634.600	835.300	1357.900
(b) Trade payables	7546.600	7084.400	7021.500
(c) Other current liabilities	17853.700	16285.800	11897.800
(d) Short-term provisions	630.900	637.500	2091.000
Total Current Liabilities (4)	29665.800	24843.000	22368.200
TOTAL	101120.400	87508.100	77587.200
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	17335.900	16718.200	15922.600
(ii) Intangible Assets	53.100	0.400	0.000
(iii) Capital work-in-progress	72.900	1626.700	1987.800
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	40637.900	36541.700	33091.800
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	8137.200	8684.400	5934.600
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	66237.000	63571.400	56936.800
(2) Current assets
(a) Current investments	14959.400	6681.200	3632.300
(b) Inventories	6497.500	4122.200	5585.500
(c) Trade receivables	9306.100	8403.900	7437.900
(d) Cash and cash equivalents	1849.200	2164.300	1908.700
(e) Short-term loans and advances	2242.900	2556.400	2080.200
(f) Other current assets	28.300	8.700	5.800
Total Current Assets	34883.400	23936.700	20650.400
TOTAL	101120.400	87508.100	77587.200

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Revenue from operations	55536.300	50416.300	48620.800
		Other Income	1059.900	1087.900	848.500
		TOTAL (A)	56596.200	51504.200	49469.300
Less	EXPENSES
		Cost of materials consumed	15381.700	14645.500	14829.800
		Purchases of stock-in-trade	547.600	464.500	70.200
		Employee benefit expense	9371.700	8163.800	8185.800
		Other expenses	15517.700	14871.900	16402.700
		TOTAL (B)	40818.700	38145.700	39488.500
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		15777.500	13358.500	9980.800
Less	FINANCIAL EXPENSES (D)		326.300	130.700	124.300
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		15451.200	13227.800	9856.500
Less/ Add	DEPRECIATION/ AMORTISATION (F)		2497.000	2275.300	2292.200
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		12954.200	10952.500	7564.300
Less	TAX (H)		4742.600	3556.300	2191.100
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		8211.600	7396.200	5373.200
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		644.000	449.300	510.500
Less	APPROPRIATIONS
		Dividend (including Corporate tax on Dividend)	201.500	201.500	200.100
		Transfer to General Reserve	8000.000	7000.000	5234.300
	BALANCE CARRIED TO THE B/S		654.100	644.000	449.300
	EARNINGS IN FOREIGN CURRENCY
		Export of goods: Publications	19.400	19.900	19.900
		Cassettes / CDs	2.600	9.800	8.300
		Advertisement Income	489.500	391.100	477.800
		Others	92.500	85.900	53.100
	TOTAL EARNINGS		604.000	506.700	559.100
	IMPORTS
		Raw Materials	13275.800	9838.600	12517.800
		Consumable Stores & Spare parts	399.000	350.100	337.800
		Capital Goods	916.000	1579.800	980.000
		Traded Products	0.000	0.700	0.000
	TOTAL IMPORTS		14590.800	11769.200	13835.600
	Earnings Per Share (Rs.)
	- Basic		28.62	25.77	18.72
	- Diluted		28.27	25.45	18.49

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	14.79	14.67	11.05
Operating Profit Margin (PBDIT/ Sales)	(%)	28.41	26.50	20.53
Return on Total Assets (PBT/Total Assets}	(%)	21.44	22.20	17.80
Return on Investment (ROI) (PBT/Networth)		0.19	0.18	0.14
Debt Equity Ratio (Total Debt/Networth)		0.05	0.01	0.02
Current Ratio (Current Asset/Current Liability)		1.18	0.96	0.92

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(INR in Million)	(INR in Million)	(INR in Million)
Share Capital	2869.600	2869.600	2869.600
Reserves & Surplus	51449.300	58644.000	66654.100
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	54318.900	61513.600	69523.700
Long Term borrowings	0.000	0.000	0.000
Short Term borrowings	1357.900	835.300	3634.600
Total borrowings	1357.900	835.300	3634.600
Debt/Equity ratio	0.025	0.014	0.052

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(INR in Million)	(INR in Million)	(INR in Million)
Revenue from operation	48,620.800	50,416.300	55,536.300
		3.693	10.155

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(INR in Million)	(INR in Million)	(INR in Million)
Revenue from operation	48,620.800	50,416.300	55,536.300
Profit	5,373.200	7,396.200	8,211.600
	11.05%	14.67%	14.79%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	-----
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	-----
22]	Litigations that the firm / promoter involved in	Yes
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	-----
26]	Buyer visit details	-----
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

LITIGATION DETAILS

CASE DETAILS

BENCH: BOMBAY

Presentation Date: 04.09.2013

Stamp No: CAAST/24802/2013 Filing Date: 04.09.2013 Reg. No.: CAA/1201/2013 Reg. Date: 07.09.2013

Main Matter

Stamp No.:- AOST/2672/2013 Reg. No.:- AO/948/2013

Petitioner: SUNDER SHAEKHAR Respondent: BENNETT, COLEMAN AND COMPANY LIMITED

Petn. Adv : M.A. KHAN

District: MUMBAI

Bench: SINGLE

Status: Pre-Admission

Last Date: 20.11.2013 Stage: For pronouncement of judgement (civil side matters)

Last Coram: HON’BLE SHRI JUSTICE ANOOP B. MOHTA

Act: Code of Civil Procedure 1908

UNSECURED LOANS

PARTICULARS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
SHORT TERM BORROWINGS
Rupee Term Loans from Banks	1264.600	683.700
Total	1264.600	683.700

CORPORATE INFORMATION:

Subject is primarily engaged in the business of publication of newspapers. The Company publishes the highest selling English broadsheet daily in the world, i.e., The Times of India. Apart from this the Company publishes newspapers like The Economic Times, Navbharat Times, Maharashtra Times, etc. It also houses three television channels zoOm ET Now and Romedy Now. The Company has subsidiaries which are engaged in the areas of internet, e-commerce, radio, television, out of home, etc.

REVIEW OF OPERATIONS

PRINT

During the year, the flagship brand, Times of India achieved an overall growth in circulation. The Newspaper in Education (NIE) segment registered an impressive growth of over 8% as compared to previous year.

Economic Times maintained its market share for Business Dailies.

The company took a major step forward in languages through launch of Navbharat Times in Lucknow. This launch opens up a significant opportunity for NBT in the Hindi heartland.

Maharashtra Times launched two new editions in Jalgaon and Ahmednagar, further consolidating its position in the Western markets with a total of 8 editions.

The company recently launched Nav Gujarat Samay, a general interest daily in Gujarati language in the cities of Ahmedabad and Gandhinagar.

This launch makes the company the only newspaper group to have major publications in 5 Indian languages - Hindi, Marathi, Kannada, Bengali and Gujarati.

In a challenging business environment for Media industry, newspaper advertising spends grew by only 5% (Group M report 2014), the company achieved a growth of 8% for the year 2013-14 the company successfully pursued a strategy of growth both in volume and yield.

Global Newsprint demand continued to decline (~1%) and capacity closures followed, led by North American and European mills. Indian Newsprint consumption growth remained at 6%.

Imported Newsprint upward price trend was contained but publishers had to bear the brunt of a volatile and depreciated Rupee. Keeping pace with imported newsprint rates, prices of indigenous mills were also marked up.

TV

ZOOM

During the year, the channel maintained its viewership share while the segment saw lot of competition. The channel continued to on the social media networks and became the first Indian TV brand to cross the 7 million mark on Facebook. In April 2013 zoOm launched a new digital channel on YouTube Telly Talk India which has grown to over 2.3 crore views by 31st March 2014.

ET-NOW

During the year, ET NOW continued to remain the definitive choice of viewers in the English Business News category and dominated the genre.

On the content and programming front, the channel continued to add newer formats both during weekdays and weekends, even as it strengthened its core proposition of market-moving stories and superior stock recommendations based on technical analysis.

ET NOW also hosted its first-ever India Economic Conclave, which is a national thought leadership platform meant to spotlight and address key economic challenges facing the country. It was well received by all the stakeholders, including the government, industry and civil society.

ROMEDY NOW

During the year a new channel Remedy Now was launched on 22nd September 2013. Romedy NOW is a first of its kind Premium English Entertainment Channel ushering Love and Laughter together for the first time on Television. The channel caters to the Urban affluent audiences across all 8 metros and has established its leadership in a span of just 7 months from its launch.

Romedy NOW has won a number of laurels in the first year of its launch: The channel won the Promax Gold for the Best On-Air Branding Design. The channel was awarded the Broadcaster Abby (Bronze) for the Best TV channel launch at The Goafest 2014 and won 2 awards for Print innovations for its launch campaign at the Exchange4medias Ink Awards 2014.

MUSIC

During the year, Times Music continued its leadership in Indian Classical, Devotional, Spiritual and Wellness genres with an impressive turnover.

INFORMATION TECHNOLOGY

The Company continues to invest in Information Technology across all areas of its business to leverage benefits of integrated workflows.

PRESS PROJECTS

During this year, the company commissioned additional press lines to meet market requirements.

PRODUCTION

During this year, the company has made substantial contribution in delivering value added offering to the customers through innovative offerings. The company continued its drive on productivity improvements. Both these have received recognition in various forums.

INDEX OF CHARGES:

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10123441	10/09/2008	1,484,954,500.00	THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED	HONGKONG BANK BUILDING, 52/60, MAHATMA GANDHI ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA	A46082657
2	10087720	14/01/2008	2,490,000,000.00	THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED	52/60, MAHATMA GANDHI ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA	A30430003
3	10052869	31/05/2008 *	5,950,000,000.00	STANDARD CHARTERED BANK (ACT AS AGENT FOR ITSELF AND  ON BEHALF OF OTHER LENDERS)	90, MAHATMA GANDHI ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA	A39272349

* Date of charge modification

CONTINGENT LIABILITIES:

Particulars	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
Claims against the Company not acknowledged as debts
Labour Claims	39.600	38.300
Others excluding cases with remote probability as per legal opinion obtained	44.000	41.500
Disputed Sales tax matters (excludes further interest leviable, if any)	201.400	185.400
Corporate guarantees on behalf of Subsidiaries	2810.500	800.000
Earmarking of funded and non-funded banking facilities for availment by subsidiaries [Actual availment Rs.1226.200 million (PY: 1136.900 million)]	2406.100	2355.200

In addition to the above, the Company has issued letters for providing financial support to certain subsidiaries for which the amounts are not quantifiable.

The management believes that the ultimate outcome of the legal proceedings on account of libel suits, etc. will not have material adverse effect on the Company’s financial position and results of operations.

FIXED ASSETS:

Tangible Assets

· Land

· Building

· Plant and Machinery

· Furniture and Fixture

· Office Equipments

· Vehicles

Intangible Assets

· Copyrights, Patents and Other Operating Rights

CMT REPORT (Corruption, Money Laundering & Terrorism]

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

1] INFORMATION ON DESIGNATED PARTY

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

2] Court Declaration :

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

3] Asset Declaration :

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

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

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

Charges or investigation registered against subject: None

7] Criminal Records

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

8] Affiliation with Government :

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

9] Compensation Package :

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

10] Press Report : No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

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

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

CONTRAVENTION

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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.67
UK Pound	1	Rs.93.26
Euro	1	Rs.68.85

INFORMATION DETAILS

Analysis Done by :	SUM
Report Prepared by :	SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	9
PAID-UP CAPITAL	1~10	9
OPERATING SCALE	1~10	9
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	10
-- PROFITABILITY	1~10	9
--LIQUIDITY	1~10	9
--LEVERAGE	1~10	9
--RESERVES	1~10	9
--CREDIT LINES	1~10	9
--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		82

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.