IRA INFORM REPORT

Report No. :	349287
Report Date :	16.11.2015

IDENTIFICATION DETAILS

Name :	ESSAR POWER GUJARAT LIMITED
Registered Office :	Salaya Administrative Building, 44 KM, Post Box No. 7, Jamnagar-Okhla Highway, Post Khambhaliya, Jamnagar – 361305, Gujarat
Tel. No.:	91-22-67335000
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	05.04.2007
Com. Reg. No.:	04-066273 (New) 11-169703 (Old)
Capital Investment / Paid-up Capital :	Rs. 26085.563 Million
CIN No.: [Company Identification No.]	U74900GJ2007PLC066273 (New) U74900MH2007PLC169703 (Old)
IEC No.:	0307096211
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AABCE7510K
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Generation and Distribution of electricity.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

B (26)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 24354000
Status :	Moderate
Payment Behaviour :	Slow and Delayed
Litigation :	Exist
Comments :	Subject is a wholly owned subsidiary of Essar Power Limited. Management has reported weak capital structure owing to huge external borrowings, along with consecutive operational loss leading to partial erosion of the networth base in FY 15. The rating also takes into consideration the consolidated group financial status which is deteriorating, witnessing a stretched liquidity profile during the year under review. However, trade relations seem to be fair. Business is active. Payment terms are reported as slow and delayed. In view of aforesaid, the company can be considered for business dealings with fully safe and secured 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=BB [Suspended]
Rating Explanation	Moderate risk of default regarding timely servicing of financial obligations.
Date	10.03.2015

Rating Agency Name	CARE
Rating	Short term bank facilities=A4 [Suspended]
Rating Explanation	Minimal degree of safety very high credit risk.
Date	10.03.2015

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2015.

INFORMATION DECLINED

MANAGEMENT NON CO-OPERATIVE

(TEL. No.: 91-22-67335000)

LOCATIONS

Registered Office :	Salaya Administrative Building, 44 KM, Post Box No. 7, Jamnagar-Okhla Highway, Post Khambhaliya, Jamnagar – 361305, Gujarat, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	powersec@essar.com
Website :	http://www.essar.com
Corporate Office :	Equinox Business Park, Tower II, 5^th Floor, off Bandra Kurla complex, LBS Marg, Kurla (West), Mumbai – 400070, Maharashtra, India
Tel. No.:	91-22-67335000

DIRECTORS

AS ON 29.09.2014

Name :

Gayathri Sukumar

Designation :

Director

Address :

1/205, Viman Darshan, Sahar Road, Andheri (East), Mumbai - 400069, Maharashtra, India

Date of Appointment :

30.09.2015

DIN No.:

07115908

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	Company/ LLP Status	Defaulting status
1	U40100GJ1991PLC064824	ESSAR POWER LIMITED	Additional director	11/03/2015	11/03/2015	Active	NO
2	U99999MH1989PLC053280	Essar Projects (India) limited	Director	30/09/2015	20/03/2015	Active	NO
3	U11101MH2008PLC179089	Essar Offshore Subsea Limited	Director	30/09/2015	21/03/2015	Active	NO
4	L85110GJ1975PLC054824	ESSAR PORTS LIMITED	Director	23/09/2015	30/03/2015	Active	NO
5	U27100GJ1976FLC013787	ESSAR STEEL INDIA LIMITED	Director	29/09/2015	30/03/2015	Active	NO
6	L61200GJ2010PLC060285	ESSAR SHIPPING LIMITED.	Director	23/09/2015	30/03/2015	Active	NO
7	U40100DL2005PLC201961	ESSAR POWER M P LIMITED	Director	29/09/2015	31/03/2015	Active	NO
8	U74900GJ2007PLC066273	ESSAR POWER GUJARAT LIMITED	Director	30/09/2015	31/03/2015	Active	NO
9	U40300GJ2006PLC063146	Essar Power Hazira Limited	Director	28/09/2015	31/03/2015	Active	NO
10	U35204GJ2011PLC067190	AMW MOTORS LIMITED	Director	29/09/2015	01/04/2015	Active	NO

Name :

Mr. Swapnil Jain

Designation :

Whole-Time Director

Address :

Mangal Niwas, Rampura, Kota - 324006, Rajasthan, India

Date of Appointment :

30.09.2015

DIN No.:

03430584

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	U55101RJ2011PTC033972	HARIYALI HOTELS PRIVATE LIMITED	Director	27/03/2011	27/03/2011	-	Active	NO
2	U64202MH1995PTC087774	ESSAR INFRASTRUCTURE SERVICES Private Limited	Director	27/09/2012	04/07/2012	29/06/2015	Active	NO
3	U65993TN1993PTC024724	IMPERIAL CONSULTANTS AND SECURITIES PRIVATE LIMITED	Director	27/09/2013	09/07/2013	29/06/2015	Active	NO
4	U70100MH1982PTC117644	ESSAR HOUSE Private Limited	Additional director	23/01/2014	23/01/2014	29/06/2015	Active	NO
5	U74900GJ2007PLC066273	ESSAR POWER GUJARAT LIMITED	Whole-time director	30/09/2015	28/07/2015	-	Active	NO

Name :

Mr. Vijayabhaskara Kalakota Reddy

Designation :

Director

Address :

3702-C, Lodha Bellissimo, Apollo Mills Compd., N M Joshi Marg, Mahalaxmi, Mumbai - 400011, Maharashtra, India

Date of Birth/Age :

01.07.1961

Date of Appointment :

20.07.2009

DIN No.:

01683467

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	U99999DL2005PLC208864	ESSAR POWER TRANSMISSION COMPANY LIMITED	Director	29/09/2007	17/08/2007	-	Active	NO
2	U40108MH2007PLC175185	ESSAR POWER JAMNAGAR LIMITED	Director	19/10/2007	19/10/2007	05/04/2010	Strike off	NO
3	U40109MH2007PLC170966	ESSAR POWER CHHATTISGARH LIMITED	Director	30/09/2008	24/03/2008	02/02/2011	Strike off	NO
4	U31101MH2006PTC164542	ESSAR WIND POWER PRIVATE LIMITED	Director	30/09/2008	10/07/2008	02/02/2011	Active	NO
5	U01403MH2007PLC166813	TIRUNELVELI WIND FARMS LIMITED	Director	30/09/2008	10/07/2008	05/04/2010	Active	NO
6	U40100GJ1991PLC064824	ESSAR POWER LIMITED	Whole-time director	01/04/2014	01/04/2009	-	Active	NO
7	U31101GJ2005PLC081701	ESSAR POWER (ORISSA) LIMITED	Director	06/07/2009	15/04/2009	09/01/2014	Active	NO
8	U40100MH1997PLC110104	ESSAR ELECTRIC POWER DEVELOPMENT CORPORATION LIMITED	Director	06/07/2009	15/04/2009	09/01/2014	Active	NO
9	U31101DL2005PLC211274	ESSAR POWER (JHARKHAND ) LIMITED	Director	01/04/2011	15/04/2009	-	Active	NO
10	U31101GJ1995PLC065146	BHANDER POWER LIMITED	Director	30/07/2009	15/04/2009	-	Active	NO
11	U74900GJ2007PLC066273	ESSAR POWER GUJARAT LIMITED	Director	20/07/2009	15/04/2009	-	Active	NO
12	U40106TN2007PLC062252	ESSAR POWER TAMILNADU LIMITED.	Director	10/07/2009	15/04/2009	-	Under liquidation	NO
13	U40100GJ1997PLC033108	VADINAR POWER COMPANY LIMITED	Director	10/07/2009	15/04/2009	-	Active	NO
14	U40100DL2005PLC201961	ESSAR POWER M P LIMITED	Director	11/03/2013	30/04/2009	-	Active	NO
15	U40300GJ2009PLC062729	ESSAR POWER SALAYA LIMITED	Director	26/05/2009	26/05/2009	09/01/2014	Active	NO
16	U40105TG2007PTC052403	MALAXMI ENERGY VENTURES(INDIA)PRIVATE LIMITED	Director	16/11/2009	16/11/2009	19/07/2010	Active	NO
17	U40109DL2005PTC231302	BRAHMANI THERMAL POWER PRIVATE LIMITED	Director	12/07/2010	12/07/2010	-	Active	NO
18	U40109GJ2011PLC063806	ESSAR POWER RESOURCES LIMITED	Director	27/01/2011	27/01/2011	16/09/2011	Active	NO
19	U40106GJ2011PLC064458	ESSAR POWER SOLAR LIMITED	Director	16/03/2011	16/03/2011	-	Strike off	NO
20	U01010MP2006PLC018586	MAHAN COAL LIMITED	Director	24/09/2011	14/09/2011	-	Active	NO
21	U40300GJ2006PLC063146	ESSAR POWER HAZIRA LIMITED	Director	29/06/2012	20/03/2012	09/01/2014	Active	NO

Name :

Mr. Dilip Oommen

Designation :

Director

Address :

D-3/4 Nand Niketan Essar Township, Hazira Surat-394270, Surat - 394270, Gujarat, India

Date of Birth/Age :

28.03.1958

Date of Appointment :

11.08.2010

DIN No.:

02285794

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	U27100GJ1976FLC013787	ESSAR STEEL INDIA LIMITED	Managing director	27/11/2014	07/07/2008	-	Active	NO
2	U27100GJ2005FLC045786	HAZIRA PLATE LIMITED	Director	25/09/2008	25/09/2008	-	Amalgamated	NO
3	U27106MH2007PLC172940	ESSAR PELLETS MARKETING LIMITED	Additional director	18/12/2008	18/12/2008	28/07/2014	Active	NO
4	U27100GJ2005FLC046273	ESSAR STEEL (HAZIRA) LIMITED	Additional director	22/12/2008	22/12/2008	-	Amalgamated	NO
5	U74900GJ2007PLC066273	ESSAR POWER GUJARAT LIMITED	Director	11/08/2010	04/09/2009	-	Active	NO
6	U40300GJ2006PLC063146	ESSAR POWER HAZIRA LIMITED	Director	06/08/2011	17/08/2010	-	Active	NO
7	U31101GJ2005PLC081701	ESSAR POWER (ORISSA) LIMITED	Director	19/08/2011	17/08/2010	-	Active	NO
8	U40100DL2005PLC201961	ESSAR POWER M P LIMITED	Director	19/08/2011	20/09/2010	-	Active	NO
9	U60220GJ2013PLC074244	ESSAR STEEL LOGISTICS LIMITED	Additional director	06/08/2013	06/08/2013	21/05/2014	Active	NO
10	U74900WB2013NPL197827	INDIAN IRON AND STEEL SECTOR SKILL COUNCIL	Director	19/12/2014	31/07/2014	-	Active	NO
11	U27310GJ2015FLC082653	ESSAR METALLICS LIMITED	Director	23/03/2015	23/03/2015	-	Active	NO

Name :

Mr. Jatinder Dinanath Mehra

Designation :

Director

Address :

C-1/36, Safdarjung Dev Area, New Delhi - 110016, India

Date of Birth/Age :

03.03.1939

Date of Appointment :

11.08.2010

DIN No.:

00042789

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	U27100GJ1976FLC013787	ESSAR STEEL INDIA LIMITED	Director	25/06/1997	25/06/1997	-	Active	NO
2	L27110GJ1989PLC011748	STEELCO GUJARAT LIMITED	Director	24/09/1997	24/09/1997	-	Active	NO
3	U72200DL1999PLC099481	MICROGENETICS SYSTEMS LIMITED	Director	26/04/1999	26/04/1999	-	Active	NO
4	U27100GJ2005FLC046274	ESSAR STEEL CHHATTISGARH LIMITED	Director	17/06/2005	17/06/2005	06/08/2014	Active	NO
5	U27100GJ2005PLC046272	ESSAR STEEL JHARKHAND LIMITED	Director	17/06/2005	17/06/2005	06/08/2014	Active	NO
6	U27100GJ2005FLC046273	ESSAR STEEL (HAZIRA) LIMITED	Director	17/06/2005	17/06/2005	-	Amalgamated	NO
7	U31101DL2005PLC211274	ESSAR POWER (JHARKHAND ) LIMITED	Director	19/10/2005	19/10/2005	30/04/2009	Active	NO
8	U31101GJ2005PLC081701	ESSAR POWER (ORISSA) LIMITED	Director	19/08/2011	19/10/2005	-	Active	NO
9	U13100GJ2006PLC047506	ESSAR MINERAL RESOURCES LIMITED	Director	13/01/2006	13/01/2006	-	Active	NO
10	U27100GJ2005FLC045786	HAZIRA PLATE LIMITED	Director	10/03/2006	10/03/2006	-	Amalgamated	NO
11	U01010MP2006PLC018586	MAHAN COAL LIMITED	Director	25/04/2006	25/04/2006	09/06/2008	Active	NO
12	U27104MH2006PLC162609	ESSAR STEEL ORISSA LIMITED	Director	14/06/2006	14/06/2006	-	Amalgamated	NO
13	U25199GJ2007PLC050164	HAZIRA PIPE MILL LIMITED	Additional director	18/12/2008	18/12/2008	-	Amalgamated	NO
14	U27100GJ2005FLC046055	ESSAR STEEL KARNATAKA LIMITED.	Additional director	12/01/2009	12/01/2009	16/01/2009	Strike off	NO
15	U40100DL2005PLC201961	ESSAR POWER M P LIMITED	Director	10/08/2010	02/09/2009	-	Active	NO
16	U74900GJ2007PLC066273	ESSAR POWER GUJARAT LIMITED	Director	11/08/2010	04/09/2009	-	Active	NO
17	U40300GJ2006PLC063146	ESSAR POWER HAZIRA LIMITED	Director	06/08/2011	17/08/2010	-	Active	NO
18	U13100WB2010PTC140900	GREEN VALLEY ENERGY VENTURES PRIVATE LIMITED	Director	20/10/2010	20/10/2010	31/03/2015	Active	NO
19	U27100MH2011PLC217214	PARADEEP STEEL COMPANY LIMITED	Director	09/05/2011	09/05/2011	-	Active	NO
20	U74999MH2011PTC217380	ESSAR SERVICES INDIA PRIVATE LIMITED	Whole-time director	01/04/2012	21/01/2012	26/03/2014	Active	NO
21	U60220GJ2013PLC074244	ESSAR STEEL LOGISTICS LIMITED	Additional director	06/08/2013	06/08/2013	21/05/2014	Active	NO
22	U20101DL1997PTC085762	RAY SOFTWARE PRIVATE LIMITED	Director	01/12/2014	01/12/2014	-	Active	NO
23	U70102MH2008PTC182233	SASMITA ESTATES PRIVATE LIMITED	Director	01/12/2014	01/12/2014	-	Active	NO

Name :

Mr. Ramesh Kumar Ramakrishnan

Designation :

Managing director

Address :

P.No. 2, Patel Enclave, Behind Kalyan Garden, Jai Jawahar Nagar, Yapral, Secunderabad - 500087, Andhra Pradesh, India

Date of Birth/Age :

05.07.1961

Qualification :

B.E. Mechanical

Experience :

33 Years

Date of Appointment :

02.08.2013

DIN No.:

02123450

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	U40109TG2005PTC047594	KSK ELECTRICITY FINANCING INDIA PRIVATE LIMITED	Managing director	25/05/2010	19/02/2008	12/04/2013	Active	NO
2	U40109TG2005PTC047720	KSK VIDARBHA POWER COMPANY PRIVATE LIMITED	Director	13/08/2008	03/05/2008	12/04/2013	Active	NO
3	U11101TG2006PTC050365	KSK MINERAL RESOURCES PRIVATE LIMITED	Director	30/09/2008	02/09/2008	30/04/2012	Active	NO
4	U74999TG2008PLC057567	KSK SURYA PHOTOVOLTAIC VENTURE LIMITED	Additional director	28/01/2009	28/01/2009	30/09/2009	Active	NO
5	U13100MH2001PLC131680	FIELD MINING AND ISPATS LIMITED	Director	30/09/2009	22/04/2009	12/04/2013	Active	YES
6	U40101TG2004PLC061239	SAI LILAGAR POWER LIMITED	Nominee director	22/09/2009	06/05/2009	12/04/2013	Active	NO
7	U40109TG2005PLC047917	SAI WARDHA POWER LIMITED	Director	12/09/2009	25/07/2009	12/04/2013	Active	NO
8	U40101TG2002PTC039426	SAI MAITHILI POWER COMPANY PRIVATE LIMITED	Director	27/09/2010	29/05/2010	12/04/2013	Active	NO
9	U40109TG2005PTC047719	KSK NARMADA POWER COMPANY PRIVATE LIMITED	Director	17/09/2011	23/10/2010	12/04/2013	Active	NO
10	U41000TG2009PTC062890	KSK WATER INFRASTRUCTURES PRIVATE LIMITED	Director	27/09/2011	01/02/2011	27/10/2011	Active	NO
11	U40109TG2005PTC047721	KSK WIND ENERGY PRIVATE LIMITED	Director	29/09/2012	28/04/2012	12/04/2013	Active	NO
12	U74900GJ2007PLC066273	ESSAR POWER GUJARAT LIMITED	Managing director	02/08/2013	02/08/2013	-	Active	NO
13	U40300GJ2009PLC062729	ESSAR POWER SALAYA LIMITED	Director	27/09/2013	27/08/2013	-	Active	NO

Name :

Mr. Rana Som

Designation :

Director

Address :

B-256, Asian Games Village, Ganapati Andalkar Block, New Delhi - 110049, India

Date of Birth/Age :

01.01.1952

Date of Appointment :

29.09.2014

DIN No.:

00352904

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	L74899DL1956GOI002674	THE STATE TRADING CORPORATION OF INDIA LIMITED	Whole-time director	31/03/2005	31/03/2005	02/11/2007	Active	NO
2	L13100AP1958GOI001674	NMDC LIMITED	Managing director	02/11/2007	02/11/2007	31/12/2011	Active	NO
3	U14107JK1989SGC001110	J & K MINERAL DEVELOPMENT CORPORATION LIMITED.	Managing director	26/03/2008	26/03/2008	31/12/2011	Active	NO
4	L13100KA1976GOI002974	KIOCL LIMITED	Director appointed in casual vacancy	09/05/2008	09/05/2008	23/05/2008	Active	NO
5	U13100CT2008GOI020711	NMDC-CMDC LIMITED	Director	19/06/2008	19/06/2008	27/02/2012	Active	NO
6	U74899DL1969NPL005064	FEDERATION OF INDIA MINERAL INDUSTRIES	Director	09/08/2008	09/08/2008	15/09/2010	Active	NO
7	U27102TG1975PLC001866	SPONGE IRON INDIA LIMITED	Managing director	06/05/2009	06/05/2009	-	Amalgamated	NO
8	U10100DL2009PTC190448	INTERNATIONAL COAL VENTURES PRIVATE LIMITED	Director	20/05/2009	20/05/2009	31/12/2011	Active	NO
9	U40100TG2011PLC077952	NMDC POWER LIMITED	Director	12/12/2011	12/12/2011	31/12/2011	Active	NO
10	U27100GJ1976FLC013787	ESSAR STEEL INDIA LIMITED	Director	20/10/2012	03/09/2012	-	Active	NO
11	U27100JH1958GOI000630	HEAVY ENGINEERING CORPORATION PRIVATE LIMITED	Director	12/02/2013	12/02/2013	-	Active	NO
12	L51909DL1963GOI004033	MMTC LIMITED	Director	17/04/2013	17/04/2013	-	Active	NO
13	U40300GJ2006PLC063146	ESSAR POWER HAZIRA LIMITED	Director	29/09/2014	18/09/2013	-	Active	NO
14	U31101GJ2005PLC081701	ESSAR POWER (ORISSA) LIMITED	Director	27/09/2014	18/09/2013	-	Active	NO
15	U74900GJ2007PLC066273	ESSAR POWER GUJARAT LIMITED	Director	29/09/2014	19/09/2013	-	Active	NO
16	U40100DL2005PLC201961	ESSAR POWER M P LIMITED	Director	27/09/2014	19/09/2013	-	Active	NO
17	U10300WB2011PTC166207	SWAYMBHU NATURAL RESOURCES PRIVATE LIMITED	Director	30/09/2015	06/07/2015	-	Active	NO
18	U10300WB2015SGC207911	BENGAL BIRBHUM COALFIELDS LIMITED	Director	29/09/2015	29/09/2015	-	Active	NO

Name :

Mr. Firdose Vandrevala

Designation :

Director

Address :

Lasonrisa 1201, Lakhamsi Napoo Road, Dadar (East), Mumbai - 400014, Maharashtra, India

Date of Birth/Age :

17.10.1950

Date of Appointment :

29.09.2014

DIN No.:

00956609

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	U32109HR1989PTC034131	Motorola Solutions India Private Limited	Director	09/12/2005	09/12/2005	28/06/2007	Active	NO
2	U27109WB1997PLC084005	TATA STEEL PROCESSING AND DISTRIBUTION LIMITED	Additional director	11/12/2006	11/12/2006	23/10/2007	Active	NO
3	U28931WB1990PLC049621	PATTON INTERNATIONAL LTD	Director	21/09/2007	02/04/2007	23/04/2009	Active	NO
4	U45200MH2005PTC157519	HIRCO DEVELOPMENTS PRIVATE LIMITED	Director	19/08/2013	01/07/2007	01/01/2015	Active	NO
5	L40101DL1989GOI038121	POWER GRID CORPORATION OF INDIA LIMITED	Director	10/07/2010	10/07/2007	10/07/2011	Active	NO
6	U73200WB1998PTC087651	TCG LIFESCIENCES PRIVATE LIMITED	Additional director	19/09/2007	19/09/2007	03/09/2009	Active	NO
7	U40105DL2009GOI188682	POWER SYSTEM OPERATION CORPORATION LIMITED	Additional director	20/10/2010	29/06/2009	10/07/2011	Active	NO
8	U27100GJ1976FLC013787	ESSAR STEEL INDIA LIMITED	Whole-time director	27/11/2014	16/11/2013	-	Active	NO
9	U74900GJ2007PLC066273	ESSAR POWER GUJARAT LIMITED	Director	29/09/2014	23/01/2014	-	Active	NO
10	U40100DL2005PLC201961	ESSAR POWER M P LIMITED	Director	27/09/2014	23/01/2014	-	Active	NO
11	U40300GJ2006PLC063146	ESSAR POWER HAZIRA LIMITED	Director	28/09/2015	15/10/2014	-	Active	NO

Name :

Mr. Mahadev Ramnath Iyer

Designation :

Director

Address :

109/110, Indira Apts, Govandi Stn Rd, Deonar, Mumbai - 400088, Maharashtra, India

Date of Birth/Age :

01.07.1958

Date of Appointment :

29.09.2014

DIN No.:

01871295

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	U13100GJ2006PLC047506	ESSAR MINERAL RESOURCES LIMITED	Director	13/01/2006	13/01/2006	07/07/2010	Active	NO
2	U27106MH2007PLC172940	ESSAR PELLETS MARKETING LIMITED	Additional director	18/12/2008	18/12/2008	28/07/2014	Active	NO
3	U27100GJ2005PLC046272	ESSAR STEEL JHARKHAND LIMITED	Additional director	18/12/2008	18/12/2008	06/08/2014	Active	NO
4	U27100GJ2005FLC046274	ESSAR STEEL CHHATTISGARH LIMITED	Additional director	18/12/2008	18/12/2008	06/08/2014	Active	NO
5	U27104MH2006PLC162609	ESSAR STEEL ORISSA LIMITED	Additional director	18/12/2008	18/12/2008	-	Amalgamated	NO
6	U25199GJ2007PLC050164	HAZIRA PIPE MILL LIMITED	Additional director	18/12/2008	18/12/2008	-	Amalgamated	NO
7	U27100GJ2005FLC045786	HAZIRA PLATE LIMITED	Additional director	18/12/2008	18/12/2008	-	Amalgamated	NO
8	U27100GJ2005FLC046273	ESSAR STEEL (HAZIRA) LIMITED	Additional director	22/12/2008	22/12/2008	-	Amalgamated	NO
9	U70100MH2006FLC159272	ESSAR INFRASTRUCTURE HAZIRA LIMITED	Additional director	14/01/2009	14/01/2009	-	Active	NO
10	U40100DL2005PLC201961	ESSAR POWER M P LIMITED	Director	27/09/2014	16/02/2009	-	Active	NO
11	U27100GJ1976FLC013787	ESSAR STEEL INDIA LIMITED	Whole-time director	27/11/2014	16/02/2009	-	Active	NO
12	U74900GJ2007PLC066273	ESSAR POWER GUJARAT LIMITED	Director	29/09/2014	04/09/2009	-	Active	NO
13	U40300GJ2006PLC063146	ESSAR POWER HAZIRA LIMITED	Director	06/08/2011	17/08/2010	19/09/2012	Active	NO
14	U31101GJ2005PLC081701	ESSAR POWER (ORISSA) LIMITED	Director	19/08/2011	17/08/2010	19/09/2012	Active	NO
15	U27100MH2011PLC217214	PARADEEP STEEL COMPANY LIMITED	Director	09/05/2011	09/05/2011	-	Active	NO
16	U23100GJ2014PLC078242	HAZIRA COKE LIMITED	Additional director	26/02/2014	26/02/2014	-	Active	NO
17	U60200OR2014PLC018639	ODISHA SLURRY PIPELINE INFRASTRUCTURE LIMITED	Additional director	26/02/2014	26/02/2014	28/04/2015	Active	NO

Name :

Mr. Vankat Govind Raghavan

Designation :

Director

Address :

Flat No 171/172, 17th Floor, Kalpataru Residency, Sion Circle, Sion (East), Mumbai - 400022, Maharashtra, India

Date of Birth/Age :

16.07.1946

Date of Appointment :

DIN No.:

00008683

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	U27100GJ1976FLC013787	ESSAR STEEL INDIA LIMITED	Director	27/11/2014	29/10/2003	-	Active	NO
2	U72200MH1992PLC064816	ESSAR INFORMATION TECHNOLOGY LIMITED	Director	09/12/2003	09/12/2003	14/02/2012	Active	NO
3	U31101GJ1995PLC065146	BHANDER POWER LIMITED	Director	17/08/2004	17/08/2004	30/04/2009	Active	NO
4	U27100GJ2005FLC046274	ESSAR STEEL CHHATTISGARH LIMITED	Director	17/06/2005	17/06/2005	18/12/2008	Active	NO
5	U27100GJ2005PLC046272	ESSAR STEEL JHARKHAND LIMITED	Director	17/06/2005	17/06/2005	18/12/2008	Active	NO
6	U27100GJ2005FLC046273	ESSAR STEEL (HAZIRA) LIMITED	Director	17/06/2005	17/06/2005	-	Amalgamated	NO
7	U31101DL2005PLC211274	ESSAR POWER (JHARKHAND ) LIMITED	Director	19/10/2005	19/10/2005	30/04/2009	Active	NO
8	U31101GJ2005PLC081701	ESSAR POWER (ORISSA) LIMITED	Director	27/09/2014	19/10/2005	-	Active	NO
9	U13100GJ2006PLC047506	ESSAR MINERAL RESOURCES LIMITED	Additional director	08/07/2010	13/01/2006	31/08/2010	Active	NO
10	U74210MH2006PLC159709	JUBILEE SHIPPING & LOGISTICS HOLDINGS LIMITED	Director	14/02/2006	14/02/2006	29/06/2007	Active	NO
11	U27104MH2006PLC162609	ESSAR STEEL ORISSA LIMITED	Director	14/06/2006	14/06/2006	-	Amalgamated	NO
12	U25199GJ2007PLC050164	HAZIRA PIPE MILL LIMITED	Director	06/03/2007	06/03/2007	18/12/2008	Amalgamated	NO
13	U27100GJ2005FLC046055	ESSAR STEEL KARNATAKA LIMITED.	Director	02/05/2007	02/05/2007	17/06/2008	Strike off	NO
14	U74900GJ2007PLC066273	ESSAR POWER GUJARAT LIMITED	Director	29/09/2014	18/02/2008	-	Active	NO
15	U40100DL2005PLC201961	ESSAR POWER M P LIMITED	Director	27/09/2014	18/02/2008	-	Active	NO
16	U65923TN2007PLC085016	ESSAR CAPITAL LIMITED	Additional director	30/06/2012	17/06/2008	05/05/2014	Active	NO
17	U70100MH2006FLC159272	ESSAR INFRASTRUCTURE HAZIRA LIMITED	Additional director	17/06/2008	17/06/2008	14/01/2009	Active	NO
18	L65990TN2005PLC071791	ESSAR SECURITIES LIMITED	Director	14/08/2009	31/03/2009	13/11/2013	Active	NO
19	U65993MH2007PLC174810	ETHL COMMUNICATIONS HOLDINGS LIMITED	Additional director	13/04/2009	13/04/2009	-	Amalgamated	NO
20	U74999TN2008PTC067735	INIMITABLE CAPITAL FINANCE PRIVATE LIMITED	Additional director	31/10/2009	31/10/2009	21/11/2013	Active	NO
21	U51900MH2006PLC160647	THE MOBILESTORE LIMITED	Director	30/09/2010	17/05/2010	27/06/2013	Active	NO
22	L65990MH1984PLC033128	FRONTIER CAPITAL LIMITED	Director	30/09/2010	12/08/2010	-	Active	NO
23	U40300GJ2006PLC063146	ESSAR POWER HAZIRA LIMITED	Director	29/09/2014	17/08/2010	-	Active	NO
24	U74140MH2010PTC207439	PADMARAG PROJECT AND CORPORATE SERVICES PRIVATE LIMITED	Director	20/09/2010	20/09/2010	-	Active	NO
25	U13100WB2010PTC140900	GREEN VALLEY ENERGY VENTURES PRIVATE LIMITED	Director	28/12/2010	28/12/2010	10/01/2012	Active	NO
26	U11201GJ2002PLC041192	ASIA MOTORWORKS LIMITED	Additional director	28/01/2011	28/01/2011	04/05/2011	Active	NO
27	U25209MH2007PTC168369	KRIS FLEXIPACKS PRIVATE LIMITED	Director	23/07/2011	01/04/2011	28/04/2014	Active	NO
28	U74999MH2011PTC217380	ESSAR SERVICES INDIA PRIVATE LIMITED	Director	12/05/2011	12/05/2011	21/01/2012	Active	NO
29	U99999MH1989PLC053280	ESSAR PROJECTS (INDIA) LIMITED	Director	09/09/2011	18/07/2011	29/06/2013	Active	NO
30	L99999TN1984PLC075902	INDIA SECURITIES LIMITED	Additional director	09/08/2011	09/08/2011	-	Amalgamated	NO
31	U74140MH2003PTC141815	MAHATI CORPORATE SERVICES PRIVATE LIMITED	Additional director	01/02/2012	01/02/2012	-	Under liquidation	NO
32	U65921MH2008PLC182234	AMW FINANCE LIMITED	Director	08/08/2012	16/02/2012	-	Active	NO
33	U60220GJ2013PLC074244	ESSAR STEEL LOGISTICS LIMITED	Additional director	06/08/2013	06/08/2013	01/04/2014	Active	NO
34	U74999MH2014PTC252552	UNIQ PIERTECH SOLUTIONES PRIVATE LIMITED	Director	28/01/2014	28/01/2014	-	Active	NO
35	U67190MH2006PLC163842	ASIA MOTORWORKS HOLDINGS LIMITED	Director	30/09/2014	01/04/2014	-	Active	NO
36	U74999MH2007PLC169998	THE MOBILESTORE SERVICES LIMITED.	Director	13/04/2015	17/03/2015	-	Active	NO
37	U60200OR2014PLC018639	ODISHA SLURRY PIPELINE INFRASTRUCTURE LIMITED	Director	11/06/2015	11/06/2015	-	Active	NO

Name :

Mr. Mohanlal Ramgopal Sharma

Designation :

Director

Address :

K-205, Sector-19, Gandhinagar - 382019, Gujarat, India

Date of Birth/Age :

08.07.1949

Date of Appointment :

29.09.2014

DIN No.:

02724685

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	U02005GJ1976SGC002927	GUJARAT STATE FOREST DEVELOPMENT CORPORATION LIMITED	Director	06/03/2003	06/03/2003	21/08/2009	Active	NO
2	U40300GJ2006PLC063146	ESSAR POWER HAZIRA LIMITED	Director	29/09/2014	18/09/2013	-	Active	NO
3	U31101GJ1995PLC065146	BHANDER POWER LIMITED	Director	30/09/2014	18/09/2013	-	Active	NO
4	U74900GJ2007PLC066273	ESSAR POWER GUJARAT LIMITED	Director	29/09/2014	19/09/2013	-	Active	NO
5	U40100GJ1997PLC033108	VADINAR POWER COMPANY LIMITED	Director	30/09/2015	30/03/2015	-	Active	NO

Name :

Mr. Venkatesan Venkataramansinganallur

Designation :

Director

Address :

New 4/6, Old 9/6, B-1 Palmwood Apartments. Sheshadri Road, Alwarpet, Opposite Bajaj Insurance, Chennai, 600018, Tamil Nadu, India

Date of Birth/Age :

09.10.1939

Date of Appointment :

29.09.2014

DIN No.:

00004010

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	U99999MH1976PLC034721	ESSAR INVESTMENTS LIMITED	Director	13/09/1991	13/09/1991	04/10/2014	Active	NO
2	L99999TN1984PLC075902	INDIA SECURITIES LIMITED	Director	28/09/1991	28/09/1991	-	Amalgamated	NO
3	U40100GJ1991PLC064824	ESSAR POWER LIMITED	Director	30/10/1991	30/10/1991	20/05/2009	Active	NO
4	U27100GJ1976FLC013787	ESSAR STEEL INDIA LIMITED	Director	28/11/1991	28/11/1991	28/05/2013	Active	NO
5	U30006TN1981PLC008616	ESSAR TELEHOLDINGS LIMITED	Director	24/01/1996	24/01/1996	18/09/2009	Active	NO
6	U99999MH1989PLC053280	ESSAR PROJECTS (INDIA) LIMITED	Director	30/09/2015	01/03/2001	-	Active	NO
7	U72200MH1992PLC064816	ESSAR INFORMATION TECHNOLOGY LIMITED	Director	21/06/2001	21/06/2001	18/12/2012	Active	NO
8	U31101GJ1995PLC065146	BHANDER POWER LIMITED	Director	30/06/2004	30/06/2004	20/05/2009	Active	NO
9	L65921TN1985PLC049092	LANCOR HOLDINGS LIMITED	Director	26/12/2014	28/12/2005	-	Active	NO
10	U65999MH2005PLC155191	EDELWEISS TRUSTEE SERVICES LIMITED	Director	12/09/2007	01/11/2006	18/03/2015	Active	NO
11	L29221TN1956PLC000204	BEST & CROMPTON ENGG. LIMITED	Director	22/09/2007	31/01/2007	-	Active	NO
12	U40106TN2007PLC062252	ESSAR POWER TAMILNADU LIMITED.	Director	05/02/2007	05/02/2007	20/05/2009	Under liquidation	NO
13	U11201GJ2002PLC041192	ASIA MOTORWORKS LIMITED	Additional director	19/05/2008	19/05/2008	03/09/2013	Active	NO
14	U27310KA2006PTC040237	SIDERFORGEROSSI INDIA PRIVATE LIMITED	Director	29/07/2009	19/05/2008	21/04/2011	Active	NO
15	U65923TN2007PLC085016	ESSAR CAPITAL LIMITED	Additional director	17/06/2008	17/06/2008	18/09/2009	Active	NO
16	U40100DL2005PLC201961	ESSAR POWER M P LIMITED	Director	27/09/2014	04/10/2008	-	Active	NO
17	L85110GJ1975PLC054824	ESSAR PORTS LIMITED	Director	31/07/2009	31/10/2008	05/07/2011	Active	NO
18	U74900GJ2007PLC066273	ESSAR POWER GUJARAT LIMITED	Director	29/09/2014	04/09/2009	-	Active	NO
19	U28920TN1999PLC043385	BEST & CROMPTON ENGINEERING PROJECTS LIMITED	Director	30/09/2010	29/03/2010	25/02/2013	Active	NO
20	U31101GJ2005PLC081701	ESSAR POWER (ORISSA) LIMITED	Director	27/09/2014	17/08/2010	-	Active	NO
21	U40300GJ2006PLC063146	ESSAR POWER HAZIRA LIMITED	Director	29/09/2014	17/08/2010	04/10/2014	Active	NO
22	U67190MH2006PLC163842	ASIA MOTORWORKS HOLDINGS LIMITED	Director	08/06/2011	08/06/2011	01/10/2014	Active	NO
23	U67190MH2011PTC225038	CREDITALPHA ALTERNATIVE INVESTMENT ADVISORS PRIVATE LIMITED	Director	01/01/2012	01/01/2012	30/03/2013	Active	NO
24	U65993MH2006PTC164007	ARUM INVESTMENTS PRIVATE LIMITED	Director	02/02/2012	02/02/2012	07/06/2012	Active	NO
25	U65923MH1993PTC075162	PROVINCIAL FINANCE AND LEASING CO PRIVATE LIMITED	Additional director	27/06/2012	27/06/2012	30/03/2013	Active	NO
26	U35204GJ2011PLC067190	AMW MOTORS LIMITED	Director	20/09/2013	04/10/2012	01/10/2014	Active	NO
27	L65990TN2005PLC071791	ESSAR SECURITIES LIMITED	Director	26/09/2014	26/08/2013	-	Active	NO
28	U99999DL2005PLC208864	ESSAR POWER TRANSMISSION COMPANY LIMITED	Director	27/09/2014	19/09/2013	-	Active	NO
29	L11100GJ1989PLC032116	ESSAR OIL LIMITED	Director	24/12/2014	10/10/2014	31/03/2015	Active	NO
30	U74999MH2007PLC169998	THE MOBILESTORE SERVICES LIMITED.	Director	13/04/2015	17/03/2015	-	Active	NO
31	U11101MH2008PLC179089	ESSAR OFFSHORE SUBSEA LIMITED	Director	30/09/2015	21/03/2015	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Swapnil Jain
Designation :	Chief Finance Officer
Address :	Mangal Niwas, Rampura, Kota -324006, Rajasthan, India
Date of Appointment :	28.07.2015
PAN No.:	AAWPJ9887C

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2014

Names of Shareholders	No. of Shares
Essar Power Limited, India	2399486245
Essar Power Limited Jointly With R. K.Sethi	10
Essar Power Limited Jointly With Sachidanand Bhujade	10
Essar Power Limited Jointly With Naveen Maheshwari	10
Essar Power Limited Jointly With V.T. Joshi	10
Essar Power Limited Jointly With Nitin Patil	10
Essar Power Limited Jointly With R. R. Pillai	10
Total	2399486305

AS ON 29.09.2014

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Generation and Distribution of electricity.
Brand Names :	--
Agencies Held :	--
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Not Divulged
Purchasing :	Not Divulged

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	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 (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

No. of Employees :

Not Divulged

Bankers :

Bank Name:	Not Divulged
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 A/c Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Not Divulged
Account Operation:	Not Divulged
Remarks:	Not Divulged

· ICICI Bank Limited

Landmarkrace Cource Circle, Alkapuri, Baroda – 390015, Gujarat, India

· State Bank of India

Neville House, J N Heradia Marg, Ballard Estate, Mumbai – 400021, Maharashtra, India

· Allahabad Bank

· Indian Overseas Bank

· Punjab National Bank

· State Bank of Indore

· State Bank of Patiala

· State Bank of Travancore

· Union Bank of India

Banking Relations :	--
Financial Institutions:	· IDBI Trusteeship Services Limited Asian Building, Ground Floor, 17 R. Kamani Marg, Ballard Estate, Mumbai – 400001, Maharashtra, India · India Infrastructure Finance Company Limited
Auditors :
Name :	Deloitte Haskins and Sells Chartered Accountants
Address :	Heritage, 3^rd Floor, Near Gujarat Vidyapith, Off Ashram Road, Ahmedabad – 380017, Gujarat, India
Tel. No.:	91-79-27582542/27582543
Fax No.:	91-79-27582551
Income-tax PAN of auditor or auditor's firm :	AABFD7919A
Memberships :	--
Collaborators :	--
Associate Company	Essar Bulk Terminal (Salaya) Limited
Holding Company:	Essar Power Limited CIN No.: U40100GJ1991PLC064824
Ultimate Holding Company:	Essar Global Fund Limited, Cayman Island (EGL) ( Formerly known as Essar Global Limited )
Intermediate Holding Company :	Essar Energy Plc
Fellow subsidiary company:	· Essar Electric Power Development Corporation Limited · Vadinar Power Company Limited · Essar Power (Orissa) Limited · Essar Power M P Limited · Bhander Power Limited · Essar Power Hazira Limited
Enterprises commonly controlled or influenced by major shareholder / directors of the Company:	· Essar Steel India Limited (ESTL) (Formerly known as Essar Steel Limited) · Essar Wind Power Private Limited · Essar Project (India) Limited (EPIL) · Essar Logistic Limited (ELL) · Essar Steel Logistic Limited (ELL) · Essar Oil Limited (EOL) · Aegis Limited (AEGIS) · Essar Mineral Resources Limited (EMRL) · Essar Shipping and Logistics Limited (ESLL) · Essar Shipping Limited (ESLL)

CAPITAL STRUCTURE

AFTER 29.09.2014

Authorised Capital : Rs.100000.000 Million

Issued, Subscribed & Paid-up Capital : Rs.26085.563 Million

AS ON 29.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
8,000,000,000	Equity Shares	Rs. 10/- each	Rs. 80000.000 Million
2,000,000,000	Preference Shares	Rs. 10/- each	Rs. 20000.000 Million
	Total		Rs. 100000.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2,399,486,305	Equity Shares	Rs. 10/- each	Rs. 23994.863 Million

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
8000000000	Equity Shares	Rs.10/- each	Rs.80000.000 Million
2000000000	Preference Shares	Rs.10/- each	Rs.20000.000 Million
Total			Rs.100000.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2243556305	Equity Shares	Rs.10/- each	Rs. 22435.600 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	22435.600	20282.100	19782.100
(b) Reserves & Surplus	(14471.000)	(6933.900)	(28.200)
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	559.300	0.000	500.000
Total Shareholders’ Funds (1) + (2)	8523.900	13348.200	20253.900
(3) Non-Current Liabilities
(a) Long-term borrowings	36205.100	26517.600	30654.800
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	221.400
(d) long-term provisions	19.700	19.600	28.100
Total Non-current Liabilities (3)	36224.800	26537.200	30904.300
(4) Current Liabilities
(a) Short term borrowings	2062.400	5954.300	0.000
(b) Trade payables	6066.100	6357.000	0.000
(c) Other current liabilities	6193.000	6387.500	6089.400
(d) Short-term provisions	2.300	2.100	2.400
Total Current Liabilities (4)	14323.800	18700.900	6091.800
TOTAL	59072.500	58586.300	57250.000
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	46425.600	49047.200	1018.900
(ii) Intangible Assets	1.700	4.200	4.800
(iii) Capital work-in-progress	3514.800	1901.400	50830.800
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	10.600	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	1234.500	1100.200	1534.000
(e) Other Non-current assets	309.000	288.000	787.800
Total Non-Current Assets	51496.200	52341.000	54176.300
(2) Current assets
(a) Current investments	0.000
(b) Inventories	758.700	1231.100	968.800
(c) Trade receivables	3352.600	1477.800	158.200
(d) Cash and cash equivalents	288.300	605.800	1032.500
(e) Short-term loans and advances	529.600	482.600	269.500
(f) Other current assets	2647.100	2448.000	644.700
Total Current Assets	7576.300	6245.300	3073.700
TOTAL	59072.500	58586.300	57250.000

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income from Operation	16374.300	10287.400	0.000
		Other Income	59.700	209.700	0.000
		TOTAL (A)	16434.000	10497.100	0.000
Less	EXPENSES
		Cost of Fuel	12449.900	8143.800	0.000
		Employees benefits expense	253.900	247.400	0.000
		Other expenses	2200.200	1635.100	2.000
		TOTAL (B)	14904.000	10026.300	2.000
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1530.000	470.800	(2.000)
Less	FINANCIAL EXPENSES (D)		6424.200	4969.800	0.000
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(4894.200)	(4499.000)	(2.000)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		2641.600	2406.700	0.000
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		(7535.800)	(6905.700)	(2.000)
Less	TAX (H)		0.000	0.000	0.000
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		(7535.800)	(6905.700)	(2.000)
	IMPORTS
	Raw Material		9207.730	5523.097	0.000
		Components and spares Parts	116.569	17.733	0.000
	TOTAL IMPORTS		9324.299	5540.83	0.000
	Earnings Per Share (Rs.)		(33.59)	(340.48)	(0.10)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	4374.000	3499.100
Cash Generated from Operations	NA	NA	NA
Net Cash Flow from used in Operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	(46.02)	(67.13)	0.00
Operating Profit Margin (PBDIT/Sales)	(%)	9.34	4.58	0.00
Return on Total Assets (PBT/Total Assets}	(%)	(13.57)	(12.18)	-0.03
Return on Investment (ROI) (PBT/Networth)		(0.88)	(0.52)	0.00
Debt Equity Ratio (Total Debt/Networth)		4.49	2.76	1.69
Current Ratio (Current Asset/Current Liability)		0.53	0.33	0.50

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	19782.100	20282.100	22435.600
Reserves & Surplus	(28.200)	(6933.900)	(14471.000)
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	500.000	0.000	559.300
Net worth	20253.900	13348.200	8523.900
Long-term borrowings	30654.800	26517.600	36205.100
Short term borrowings	0.000	5954.300	2062.400
Total borrowings	34153.900	36845.900	38267.500
Debt/Equity ratio	1.686	2.760	4.489

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	0.000	10287.400	16374.300
			59.168

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	0.000	10287.400	16374.300
Profit	(2.000)	(6905.700)	(7535.800)
		(67.13%)	(46.02%)

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	No
8	Designation of contact person	No
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	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	No
32	Litigations that the firm/promoter involved in	Yes
33	Market information	--
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

LITIGATIONS DETAILS

HIGH COURT OF GUJARAT

TAX APPEAL NO. 939 OF 2011 TO TAX APPEAL NO. 942 OF 2011

---

Status : PENDING

( Converted from : ST/1808/2011)

CCIN No : 001092201100939

Next Listing Date:

17.12.2015

Coram

HONOURABLE MS.JUSTICE HARSHA DEVANI HONOURABLE MR.JUSTICE A.G.URAIZEE

Not Before :

· HONOURABLE MR.JUSTICE AKIL KURESHI

---

S.NO.	Name of the Petitioner	Advocate On Record
1	COMMISSIONER OF CUSTOMS (PREVENTIVE)	MR RJ OZA for: Appellant(s)  1

---

S.NO.	Name of the Respondant	Advocate On Record
1	M/S ESSAR POWER GUJARAT LIMITED	NANAVATI ASSOCIATES for :Opponent(s)  1

---

Presented On	: 13.06.2011	Registered On	: 13.06.2011
Bench Category	: DIVISION BENCH	District	: JAMNAGAR
Case Originated From	:THROUGH HIS/HER/THEIR ADVOCATE	Listed	: 38 times
Stage Name	: FOR FINAL HEARING

Classification	DB - OJ - TAX APPEAL - CENTRAL EXCISE ACT, 1944 - UNDER SECTION 130
Act	CUSTOMS ACT, 1962

Office Details

S. No.	Filing Date	Document Name	Advocate Name	Court Fee on Document	Document Details
1	13.06.2011	CERTIFIED COPY	MR RJ OZA ADVOCATE for PETITIONER(s)  1	6	MR RJ OZA:1
2	13.06.2011	MEMO OF PETITION/APPEAL/SUIT	MR RJ OZA ADVOCATE for PETITIONER(s)  1	50	MR RJ OZA:1
3	13.06.2011	VAKALATNAMA	MR RJ OZA ADVOCATE for PETITIONER(s)  1	-	MR RJ OZA:1
4	15.08.2011	VAKALATNAMA	NANAVATI ASSOCIATES ADVOCATE for RESPONDENT(s)  1	-	NANAVATI ASSOCIATES:1
5	25.06.2012	VAKALATNAMA	NANAVATI ASSOCIATES ADVOCATE for RESPONDENT(s)  1	5	NANAVATI ASSOCIATES:1

Court Proceedings

S. No.	Notified Date	Court Code	Board Sr. No.	Stage	Action	Coram
1	06/12/2012	2	61	FOR FINAL HEARING	NEXT DATE	· HONOURABLE THE ACTING CHIEF JUSTICE MR. VIJAY MANOHAR SAHAI  · HONOURABLE MR.JUSTICE S.G.SHAH
2	09/01/2013	5	65	FOR FINAL HEARING	NEXT DATE	· HONOURABLE THE ACTING CHIEF JUSTICE MR. VIJAY MANOHAR SAHAI  · HONOURABLE MR.JUSTICE S.G.SHAH
3	04/07/2013	5	24	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE M.R. SHAH  · HONOURABLE MS JUSTICE SONIA GOKANI
4	22/07/2013	5	54	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE M.R. SHAH  · HONOURABLE MS JUSTICE SONIA GOKANI
5	06/08/2013	5	48	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE M.R. SHAH  · HONOURABLE MS JUSTICE SONIA GOKANI
6	26/08/2013	5	63	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE M.R. SHAH  · HONOURABLE MS JUSTICE SONIA GOKANI
7	16/09/2013	5	54	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE M.R. SHAH  · HONOURABLE MS JUSTICE SONIA GOKANI
8	07/10/2013	5	48	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE M.R. SHAH  · HONOURABLE MS JUSTICE SONIA GOKANI
9	22/10/2013	5	75	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE M.R. SHAH  · HONOURABLE MS JUSTICE SONIA GOKANI
10	26/11/2013	5	77	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE M.R. SHAH  · HONOURABLE MS JUSTICE SONIA GOKANI and HONOURABLE MR.JUSTICE R.P.DHOLARIA
11	17/12/2013	5	75	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE M.R. SHAH  · HONOURABLE MR.JUSTICE R.P.DHOLARIA
12	13/01/2014	3	13	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE RAVI R.TRIPATHI  · HONOURABLE MR.JUSTICE M.R. SHAH and HONOURABLE MR.JUSTICE AKIL KURESHI and HONOURABLE MR.JUSTICE MOHINDER PAL and HONOURABLE MS JUSTICE SONIA GOKANI and HONOURABLE MR.JUSTICE R.D.KOTHARI and HONOURABLE MR.JUSTICE R.P.DHOLARIA
13	03/02/2014	3	5	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE RAVI R.TRIPATHI  · HONOURABLE MR.JUSTICE MOHINDER PAL
14	25/02/2014	3	9	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE RAVI R.TRIPATHI  · HONOURABLE MR.JUSTICE MOHINDER PAL
15	20/03/2014	3	69	FOR FINAL HEARING	NEXT DATE	· HONOURABLE THE ACTING CHIEF JUSTICE MR. VIJAY MANOHAR SAHAI  · HONOURABLE MR.JUSTICE RAVI R.TRIPATHI and HONOURABLE MR.JUSTICE MOHINDER PAL and HONOURABLE MR.JUSTICE R.D.KOTHARI and HONOURABLE MR.JUSTICE K.J.THAKER
16	18/04/2014	3	-	FOR FINAL HEARING		· HONOURABLE MR.JUSTICE RAVI R.TRIPATHI  · HONOURABLE MR.JUSTICE MOHINDER PAL
17	21/04/2014	3	76	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE RAVI R.TRIPATHI  · HONOURABLE MR.JUSTICE MOHINDER PAL
18	19/06/2014	5	35	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE RAVI R.TRIPATHI  · HONOURABLE MR.JUSTICE M.R. SHAH and HONOURABLE MR.JUSTICE MOHINDER PAL and HONOURABLE MR.JUSTICE K.J.THAKER
19	02/07/2014	5	40	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE M.R. SHAH  · HONOURABLE MR.JUSTICE K.J.THAKER
20	17/07/2014	5	45	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE M.R. SHAH  · HONOURABLE MR.JUSTICE K.J.THAKER
21	31/07/2014	5	63	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE M.R. SHAH  · HONOURABLE MR.JUSTICE K.J.THAKER
22	14/08/2014	5	69	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE M.R. SHAH  · HONOURABLE MR.JUSTICE K.J.THAKER
23	28/08/2014	10	60	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE M.R. SHAH  · HONOURABLE MS.JUSTICE HARSHA DEVANI and HONOURABLE MS JUSTICE SONIA GOKANI and HONOURABLE MR.JUSTICE K.J.THAKER
24	04/09/2014	10	70	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MS.JUSTICE HARSHA DEVANI  · HONOURABLE MS JUSTICE SONIA GOKANI
25	11/09/2014	10	69	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MS.JUSTICE HARSHA DEVANI  · HONOURABLE MS JUSTICE SONIA GOKANI
26	09/10/2014	5	69	FOR FINAL HEARING		· HONOURABLE MR.JUSTICE KS JHAVERI  · HONOURABLE MS.JUSTICE HARSHA DEVANI and HONOURABLE MS JUSTICE SONIA GOKANI and HONOURABLE MR.JUSTICE K.J.THAKER
27	13/10/2014	5	64	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE KS JHAVERI  · HONOURABLE MR.JUSTICE K.J.THAKER
28	05/11/2014	5	50	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE KS JHAVERI  · HONOURABLE MR.JUSTICE K.J.THAKER
	12/12/2014	5	96	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE KS JHAVERI  · HONOURABLE MR.JUSTICE K.J.THAKER
30	24/12/2014	5	93	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE KS JHAVERI  · HONOURABLE MR.JUSTICE K.J.THAKER
31	05/02/2015	3	69	FOR FINAL HEARING	NEXT DATE	· HONOURABLE THE ACTING CHIEF JUSTICE MR. JAYANT PATEL  · HONOURABLE MR.JUSTICE KS JHAVERI and HONOURABLE MR.JUSTICE
32	16/03/2015	4	65	FOR FINAL HEARING	NEXT DATE	· HONOURABLE THE ACTING CHIEF JUSTICE MR. JAYANT PATEL  · HONOURABLE MR.JUSTICE M.R. SHAH and HONOURABLE MR.JUSTICE S.H.VORA
33	26/03/2015	4	38	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE M.R. SHAH  · HONOURABLE MR.JUSTICE S.H.VORA
34	09/04/2015	4	64	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE M.R. SHAH  · HONOURABLE MR.JUSTICE S.H.VORA
35	24/04/2015	4	35	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE M.R. SHAH  · HONOURABLE MR.JUSTICE S.H.VORA
36	11/06/2015	17	-	FOR FINAL HEARING	NEXT DATE	· HONOURABLE THE ACTING CHIEF JUSTICE MR. VIJAY MANOHAR SAHAI  · HONOURABLE MR.JUSTICE M.R. SHAH and HONOURABLE MR.JUSTICE A.J.DESAI and HONOURABLE MR.JUSTICE S.H.VORA and HONOURABLE MR.JUSTICE A.G.URAIZEE and HONOURABLE MR.JUSTICE
37	30/06/2015	17	87	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MR.JUSTICE A.J.DESAI  · HONOURABLE MR.JUSTICE A.G.URAIZEE
38	24/08/2015	7	52	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MS.JUSTICE HARSHA DEVANI  · HONOURABLE MR.JUSTICE A.J.DESAI and HONOURABLE MR.JUSTICE A.G.URAIZEE
39	24/09/2015	7	122	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MS.JUSTICE HARSHA DEVANI  · HONOURABLE MR.JUSTICE A.G.URAIZEE
40	29/10/2015	7	94	FOR FINAL HEARING	NEXT DATE	· HONOURABLE MS.JUSTICE HARSHA DEVANI  · HONOURABLE MR.JUSTICE A.G.URAIZEE
41	17/12/2015	7	-	FOR FINAL HEARING		· HONOURABLE MS.JUSTICE HARSHA DEVANI  · HONOURABLE MR.JUSTICE A.G.URAIZEE

Available Orders

S. No.	Case Details	Judge Name	Order Date	CAV	Judgement	Questions	Transferred
1	AX APPEAL/939/2011	· HONOURABLE THE CHIEF JUSTICE MR. BHASKAR BHATTACHARYA  · HONOURABLE MR.JUSTICE J.B.PARDIWALA	18/04/2012	N	ORDER	-	Y
2	TAX APPEAL/939/2011	· HONOURABLE MR.JUSTICE AKIL KURESHI  · HONOURABLE MS.JUSTICE HARSHA DEVANI	10/09/2012	N	ORDER	-	Y
3	TAX APPEAL/939/2011	· HONOURABLE THE ACTING CHIEF JUSTICE MR. VIJAY MANOHAR SAHAI  · HONOURABLE MR.JUSTICE S.G.SHAH	06/12/2012	N	ORDER	-	Y
4	TAX APPEAL/939/2011	· HONOURABLE THE ACTING CHIEF JUSTICE MR. VIJAY MANOHAR SAHAI  · HONOURABLE MR.JUSTICE S.G.SHAH	09/01/2013	N	ORDER	-	Y
5	TAX APPEAL/806/2011	· HONOURABLE MR.JUSTICE KS JHAVERI  · HONOURABLE MR.JUSTICE K.J.THAKER	13/10/2014	N	ORDER	-	Y
6	TAX APPEAL/939/2011	· HONOURABLE MR.JUSTICE KS JHAVERI  · HONOURABLE MR.JUSTICE K.J.THAKER	05/11/2014	N	ORDER	-	Y
7	TAX APPEAL/939/2011	· HONOURABLE MR.JUSTICE M.R. SHAH  · HONOURABLE MR.JUSTICE S.H.VORA	16/03/2015	N	ORDER	-	Y

Certified Copy

S. No.	ApplicantName	ApplicationType	Application Date	UOL Number	Order Date	Notify Date	Delivery Date	Status	Nature Of Document
1	MR RJ OZA	ORDINARY	19/04/2012	O/13243/2012	18/04/2012	20/04/2012	23/04/2012	Delivered	ORDER

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10596655	23/09/2015	260,000,000.00	ICICI BANK LIMITED	LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA	C67098814
2	10580694	30/06/2015	2,970,000,000.00	STATE BANK OF INDIA	NEVILLE HOUSE, J N HERADIA MARG, BALLARD ESTATE, MUMBAI - 400021, MAHARASHTRA, INDIA	C59255745
3	10531543	28/10/2014 *	9,500,000,000.00	IDBI TRUSTEESHIP SERVICES LIMITED	ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAI - 400001, MAHARASHTRA, INDIA	C33787631
4	10493937	28/10/2014 *	3,000,000,000.00	IDBI TRUSTEESHIP SERVICES LIMITED	ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAI - 400001, MAHARASHTRA, INDIA	C40829103
5	10432090	20/05/2013	3,800,000,000.00	YES BANK LIMITED	NEHRU CENTRE, 9TH FLOOR, DISCOVERY OF INDIA, DR. A.B. ROAD, WORLI, MUMBAI - 400018, MAHARASHTRA, I  NDIA	B77517738
6	10388631	09/11/2012	4,800,000,000.00	IDBI TRUSTEESHIP SERVICES LIMITED	ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAI - 400001, MAHARASHTRA, INDIA	B62826805
7	10388056	27/10/2012	2,000,000,000.00	IDBI BANK LIMITED	IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI - 400005, MAHARASHTRA, INDIA	B62581160
8	10160834	08/01/2010 *	9,500,000,000.00	IDBI TRUSTEESHIP SERVICES LIMITED	ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAI - 400001, MAHARASHTRA, INDIA	A77683878
9	10160836	08/01/2010 *	10,250,000,000.00	IDBI TRUSTEESHIP SERVICES LIMITED	ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAI - 400001, MAHARASHTRA, INDIA	A77685089
10	10160889	08/01/2010 *	25,525,000,000.00	IDBI TRUSTEESHIP SERVICES LIMITED	ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAI - 400001, MAHARASHTRA, INDIA	A77685840
11	10124316	08/01/2010 *	5,000,000,000.00	IDBI TRUSTEESHIP SERVICES LIMITED	ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAI - 400001, MAHARASHTRA, INDIA	A77684447

* Date of charge modification

FIXED ASSETS:

· Freehold Land

· Office Equipment

· Furniture and fixtures

· Air Craft

· Software

· Vehicles

· Computer

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.66.14
UK Pound	1	Rs.100.55
Euro	1	Rs.71.26

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	KIN
Report Prepared by :	ARC

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	2
--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		26

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.