IRA INFORM REPORT

Report No. :	343005
Report Date :	30.09.2015

IDENTIFICATION DETAILS

Name :	GUJARAT ENERGY TRANSMISSION CORPORATION LIMITED
Registered Office :	Sardar Patel Vidyut Bhavan, Race Course, Vadodara – 390007, Gujarat
Tel. No.:	91-265-2310582/86
Country :	India
Financials (as on) :	31.03.2014 (Provisional)
Date of Incorporation :	19.05.1999
Com. Reg. No.:	04-036018
Capital Investment / Paid-up Capital :	Rs. 5433.654 Million
CIN No.: [Company Identification No.]	U40100GJ1999SGC036018
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is principally engaged in the business of transmission of electricity and ancillary activity.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

A (62)

RATING		STATUS	PROPOSED CREDIT LINE
56-70	A	Financial & operational base are regarded healthy. General unfavorable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large

Status :	Good
Payment Behavior :	Regular
Litigation :	Exist
Comments :	Subject was incorporated in the year 1999. It is having fine track records. The ratings takes into account the strong parentage of GETCO being a subsidiary of Gujarat Urja Vikas Nigam Limited (GUVNL) which is in turn 100% owned by Government of Gujarat. Rating further factors in the strong and healthy overall financial condition of the company. Trade relations are fair. Business is active. Payment terms are reported to be regular and as per commitment. In view of strong state government support, the company can be considered for normal business dealings with usual trade terms and conditions.

NOTES :

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

ECGC Country Risk Classification List – March 31, 2015

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

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

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long-Term Bank Facilities: A+
Rating Explanation	Adequate degree of safety and low credit risk.
Date	March 26, 2015

Rating Agency Name	CARE
Rating	Short-Term Bank Facilities: A1+
Rating Explanation	Very strong degree of safety and carry lowest credit risk.
Date	March 26, 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 DENIED BY

Name :	Mr. Bhupendrakumar Shah
Designation :	Chief Financial Officer
Contact No.:	91-265-2310582
Date :	28.09.2015

LOCATIONS

Registered Office /Corporate Office :	Sardar Patel Vidyut Bhavan, Race Course, Vadodara – 390007, Gujarat, India
Tel. No.:	91-265-2310582-586
Fax No.:	91-265-2337918/2338164 (Control Room) 91-265-2338152 (MD Office) 91-265-2351218 (CE-TR Office) 91-265-2353091 (Accounts Section)
E-Mail :	Feedback.getco@gebmail.com
Website :	http://www.getcogujarat.com
Transmission Circle Office:	Located At: Navsari Bharuch Jambuva Nadiad Surendranagar Mehsana Himmatnagar Palanpur Gondal Jamnagar Amreli Anjar Junagadh

DIRECTORS

AS ON 20.12.2014

Name :

Mr. Surinder Kumar Negi

Designation :

Managing Director

Address :

A-4, Vidyut Nagar Colony, Old Padra Road, Vadodara - 390015, Gujarat, India

Date of Appointment :

11.08.2014

DIN No.:

00533049

Name :

Mr. Prafulbhai Hardevrai Rana

Designation :

Director

Address :

One Bhavna Apartment, Ellora Park, Race Course, Gorwa, Vadodara - 390007, Gujarat, India

Date of Appointment :

31.03.2015

DIN No.:

00020411

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	U40100GJ1993SGC019988	GUJARAT STATE ELECTRICITY CORPORATION LIMITED	Director	31/03/2015	17/03/2001	-	Active	NO
2	U40100GJ1990SGC013961	GUJARAT POWER CORPORATION LIMTED	Director	14/08/2001	14/08/2001	-	Active	NO
3	U40100GJ1999SGC036018	GUJARAT ENERGY TRANSMISSION CORPORATION LIMITED	Director	31/03/2015	16/03/2002	-	Active	NO
4	U40109GJ2004SGC045195	GUJARAT URJA VIKAS NIGAM LIMITED	Whole-time director	22/12/2004	22/12/2004	30/09/2011	Active	NO
5	U40102GJ2003SGC042908	PASCHIM GUJARAT VIJ COMPANY LIMITED	Director	26/03/2015	29/07/2005	-	Active	NO
6	U40102MH2006PLC182213	Coastal Gujarat Power Limited	Additional director	09/09/2006	09/09/2006	22/04/2007	Active	NO
7	U40102GJ2003SGC042909	DAKSHIN GUJARAT VIJ COMPANY LIMITED	Director	26/03/2015	01/12/2006	-	Active	NO
8	L99999GJ1985PLC007868	GUJARAT INDUSTRIES POWER COMPANY LIMITED	Director	29/09/2007	05/05/2007	21/10/2011	Active	NO
9	U40102GJ2007SGC051396	BHAVNAGAR ENERGY COMPANY LIMITED	Nominee director	05/03/2014	26/07/2007	27/08/2014	Active	NO
10	U40102OR2008SGC009955	BAITARNI WEST COAL COMPANY LIMITED	Director	28/04/2008	28/04/2008	-	Active	NO
11	U10102MH2006SGC165327	MAHAGUJ COLLIERIES LIMITED	Managing director	27/09/2008	27/09/2008	-	Active	NO

Name :

Mr. Lalnunmawia Chuaungo

Designation :

Director

Address :

GIPCl House, Near Amar Complex, Sama Road, Vadodara - 390008, Gujarat, India

Date of Appointment :

20.12.2014

DIN No.:

00032867

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	L99999GJ1985PLC007868	GUJARAT INDUSTRIES POWER COMPANY LIMITED	Director	07/04/2015	01/05/2003	-	Active	NO
2	U23100GJ1999SGC035573	GSPC GAS COMPANY LIMITED	Nominee director	20/05/2013	23/06/2003	22/01/2015	Active	NO
3	U40100GJ1999SGC036018	GUJARAT ENERGY TRANSMISSION CORPORATION LIMITED	Director	20/12/2014	05/03/2004	-	Active	NO
4	U40102GJ2003SGC042907	MADHYA GUJARAT VIJ COMPANY LIMITED	Director	15/10/2004	15/10/2004	13/07/2011	Active	NO
5	U40102GJ2003SGC042909	DAKSHIN GUJARAT VIJ COMPANY LIMITED	Director	01/11/2004	01/11/2004	13/07/2011	Active	NO
6	U40100GJ1993SGC019988	GUJARAT STATE ELECTRICITY CORPORATION LIMITED	Nominee director	08/04/2015	30/11/2004	-	Active	NO
7	U40109GJ2004SGC045195	GUJARAT URJA VIKAS NIGAM LIMITED	Managing director	30/08/2014	22/12/2004	-	Active	NO
8	U63020GJ1998PLC035039	GUJARAT GREEN REVOLUTION COMPANY LIMITED	Director	07/05/2005	07/05/2005	26/07/2011	Active	NO
9	U40100GJ1990SGC013961	GUJARAT POWER CORPORATION LIMTED	Managing director	04/05/2015	19/02/2007	-	Active	NO
10	U40102GJ2003SGC042906	UTTAR GUJARAT VIJ COMPANY LIMITED	Director	26/12/2007	02/05/2007	03/08/2011	Active	NO
11	U40102GJ2007SGC051396	BHAVNAGAR ENERGY COMPANY LIMITED	Director	07/12/2011	26/07/2007	01/09/2014	Active	NO
12	U40100GJ1998SGC035212	GUJARAT STATE ENERGY GENERATION LIMITED	Director	26/09/2007	25/09/2007	18/07/2011	Active	NO
13	U40100GJ2006SGC047783	GSPC PIPAVAV POWER COMPANY LIMITED	Nominee director	29/12/2012	26/09/2007	01/09/2014	Active	NO
14	U40102OR2008SGC009955	BAITARNI WEST COAL COMPANY LIMITED	Director	28/04/2008	28/04/2008	08/06/2011	Active	NO
15	U60200GJ2010SGC059407	METRO-LINK EXPRESS FOR GANDHINAGAR AND AHMEDABAD (MEGA) COMPANY LIMITED	Director	26/07/2011	26/07/2011	04/03/2014	Active	NO
16	U74900GJ2010SGC060349	GUJARAT LIVELIHOOD PROMOTION COMPANY LIMITED	Nominee director	08/08/2011	08/08/2011	13/07/2013	Active	NO
17	U65910GJ1980SGC003957	THE GUJARAT STATE CIVIL SUPPLIES CORPORATION LIMITED	Director	23/08/2011	23/08/2011	06/09/2011	Active	NO
18	U41000GJ1999SGC036777	GUJARAT WATER INFRASTRUCTURE LIMITED	Director	25/08/2011	25/08/2011	14/10/2014	Active	NO
19	U91110GJ1969SGC001582	GUJARAT AGRO-INDUSTRIES CORPORATION LIMITED	Director	08/09/2011	08/09/2011	28/09/2011	Active	NO
20	U65910GJ1992SGC018602	GUJARAT STATE FINANCIAL SERVICES LIMITED	Director	27/09/2011	27/09/2011	31/03/2014	Active	NO
21	U64990GJ1988SGC010307	GUJARAT STATE INVESTMENT LIMITED	Director	27/09/2011	27/09/2011	12/03/2014	Active	NO
22	U67120GJ1998SGC033768	GSFS CAPITAL AND SECURITIES LIMITED	Director	25/03/2013	27/09/2011	31/03/2014	Under liquidation	NO
23	U23203GJ2007SGC050115	GSPC LNG LIMITED	Additional director	29/04/2015	08/12/2011	-	Active	NO
24	U45201GJ2000PLC038035	CREATIVE INFOCITY LIMITED	Nominee director	16/12/2011	16/12/2011	12/03/2014	Active	NO
25	U74999GJ2012PLC071761	GIPCL PROJECTS AND CONSULTANCY COMPANY LIMITED	Director	30/08/2012	30/08/2012	01/09/2014	Active	NO
26	U85110GJ2012SGC071667	GUJARAT MEDICAL SERVICES CORPORATION LIMITED	Director	26/12/2012	26/12/2012	04/03/2014	Active	NO
27	U45201GJ1988SGC011453	GUJARAT STATE POLICE HOUSING CORPORATION LIMITED	Nominee director	25/04/2014	25/04/2014	26/12/2014	Active	NO
28	U23209GJ1979SGC003281	GUJARAT STATE PETROLEUM CORPORATION LIMITED	Director	30/12/2014	12/11/2014	-	Active	NO
29	L40200GJ1998SGC035188	GUJARAT STATE PETRONET LIMITED	Additional director	21/02/2015	21/02/2015	-	Active	NO
30	L99999GJ1962PLC001121	GUJARAT STATE FERTILIZERS AND CHEMICALS LIMITED	Director appointed in casual vacancy	08/04/2015	08/04/2015	-	Active	NO
31	U40200GJ2012SGC069118	GUJARAT GAS LIMITED	Additional director	21/04/2015	21/04/2015	-	Active	NO

Name :

Mr. Sebastian Luckose Morris

Designation :

Director

Address :

422, Iima Campus, Vastrapur, Iima Post Office, Sattelite, Ahmedabad - 380015, Gujarat, India

Date of Appointment :

31.03.2015

DIN No.:

00037228

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	U40100GJ1999SGC036018	GUJARAT ENERGY TRANSMISSION CORPORATION LIMITED	Director	31/03/2015	25/11/2000	-	Active	NO
2	U74910GJ2012PTC071439	PEOPLECAN SERVICES PRIVATE LIMITED	Director	28/09/2013	09/03/2013	-	Active	NO

Name :

Mr. Prafulla Kumar Das

Designation :

Director

Address :

Plot 275, Sector 1-C, Gandhinagar - 382001, Gujarat, India

Date of Appointment :

14.05.2015

DIN No.:

00501499

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	L99999GJ1985PLC007868	GUJARAT INDUSTRIES POWER COMPANY LIMITED	Director	29/09/2006	29/09/2006	-	Active	NO
2	U40100GJ2006SGC047783	GSPC PIPAVAV POWER COMPANY LIMITED	Director	01/12/2008	26/09/2007	-	Active	NO
3	U40100GJ1999SGC036018	GUJARAT ENERGY TRANSMISSION CORPORATION LIMITED	Director	14/05/2015	14/05/2015	-	Active	NO

Name :

Bidyut Behari Swain

Designation :

Director

Address :

B-4, Sundaram Flats, L. D. Engineering Campus, Ahmedabad - 380015, Gujarat, India

Date of Appointment :

02.11.2007

DIN No.:

01448386

Other Directorship:

.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	U40100GJ1999SGC036018	GUJARAT ENERGY TRANSMISSION CORPORATION LIMITED	Director	02/11/2007	28/03/2007	-	Active	NO
2	U99999GJ1992PLC017798	GUJARAT CHEMICAL PORT TERMINAL COMPANY LIMITED	Nominee director	27/09/2010	15/12/2009	19/06/2015	Active	NO
3	U24230GJ1982SGC005422	GUJARAT PORTS INFRASTRUCTURE AND DEVELOPMENT COMPANY LIMITED	Director	23/12/2009	23/12/2009	03/01/2012	Active	NO
4	U51100GJ1979SGC003391	GUJARAT RURAL INDUSTRIES MARKETING CORPORATION LIMITED	Director	23/12/2009	23/12/2009	-	Active	NO
5	U45209GJ2009SGC056466	GUJARAT INDUSTRIAL CORRIDOR CORPORATION LIMITED	Director	04/01/2010	04/01/2010	18/01/2012	Active	NO
6	U45209GJ2009PLC058141	GUJARAT INDUSTRIAL INFRASTRUCTURE PROJECTS LIMITED	Director	15/11/2010	05/01/2010	01/07/2015	Active	NO
7	U65990GJ1968SGC001524	GUJARAT INDUSTRIAL INVESTMENT CORPORATION LIMITED	Director	13/01/2010	13/01/2010	18/01/2012	Active	NO
8	U91110GJ1969SGC001582	GUJARAT AGRO-INDUSTRIES CORPORATION LIMITED	Director	22/01/2010	18/01/2010	26/03/2012	Active	NO
9	U45201GJ2000PLC038035	CREATIVE INFOCITY LIMITED	Nominee director	08/03/2010	08/03/2010	03/01/2012	Active	NO
10	U67120GJ2000SGC037295	INFRASTRUCTURE FINANCE COMPANY GUJARAT LIMITED	Director	09/05/2011	09/05/2011	-	Active	NO
11	U40102OR2008SGC009955	BAITARNI WEST COAL COMPANY LIMITED	Nominee director	08/06/2011	08/06/2011	-	Active	NO
12	U51395GJ1999PLC036886	VADODARA ENVIRO CHANNEL LIMITED	Director appointed in casual vacancy	13/07/2011	13/07/2011	30/06/2015	Active	NO
13	U99999GJ2000NPL037236	NARMADA CLEAN TECH	Nominee director	26/07/2011	26/07/2011	19/06/2015	Active	NO
14	U74210GJ1997GAP031525	VAPI GREEN ENVIRO LIMITED	Nominee director	03/08/2011	03/08/2011	-	Active	NO
15	U45209GJ2004PLC044779	DAHEJ SEZ LIMITED	Director	09/09/2011	09/09/2011	12/06/2015	Active	NO
16	U45201GJ1992GOI018678	GUJARAT GROWTH CENTRES DEVELOPMENT CORPORATION LIMITED	Director	26/09/2011	26/09/2011	-	Active	NO
17	U45201GJ2009PLC058014	GUJARAT PCPIR SERVICES LIMITED	Additional director	29/09/2011	29/09/2011	19/06/2015	Active	NO
18	U45203DL2006PLC155511	Bharuch Dahej Railway Company Limited	Nominee director	01/10/2011	01/10/2011	26/06/2015	Active	NO
19	L14100GJ1963SGC001206	GUJARAT MINERAL DEVELOPMENT CORPORATION LIMITED	Managing director	01/11/2014	01/02/2013	24/04/2015	Active	NO

Name :

Shahmeena Syedafzal Husain

Designation :

Nominee Director

Address :

Bunglow No.2, Behind Guvnl Vip Guest House, Old Padra Road, Vadodara - 390015, Gujarat, India

Date of Appointment :

05.11.2014

DIN No.:

03584560

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	U40102GJ2003SGC042906	UTTAR GUJARAT VIJ COMPANY LIMITED	Nominee director	07/05/2013	03/08/2011	-	Active	NO
2	U40109GJ2004SGC045195	GUJARAT URJA VIKAS NIGAM LIMITED	Whole-time director	27/09/2013	29/09/2011	-	Active	NO
3	U40102GJ2003SGC042908	PASCHIM GUJARAT VIJ COMPANY LIMITED	Nominee director	07/05/2013	20/10/2011	-	Active	NO
4	U40102GJ2003SGC042907	MADHYA GUJARAT VIJ COMPANY LIMITED	Director	23/12/2014	16/07/2012	-	Active	NO
5	U10102MH2006SGC165327	MAHAGUJ COLLIERIES LIMITED	Additional director	25/08/2014	25/08/2014	-	Active	NO
6	U40102GJ2003SGC042909	DAKSHIN GUJARAT VIJ COMPANY LIMITED	Managing director	05/08/2015	20/09/2014	-	Active	NO
7	L99999GJ1985PLC007868	GUJARAT INDUSTRIES POWER COMPANY LIMITED	Nominee director	20/09/2014	20/09/2014	-	Active	NO
8	U40100GJ1993SGC019988	GUJARAT STATE ELECTRICITY CORPORATION LIMITED	Nominee director	30/10/2014	30/10/2014	-	Active	NO
9	U40100GJ1999SGC036018	GUJARAT ENERGY TRANSMISSION CORPORATION LIMITED	Nominee director	05/11/2014	05/11/2014	-	Active	NO

Name :

Mr. Sanjeev Kumar

Designation :

Director

Address :

Collectors Bunglow, KH 253, Sector 19, Gandhinagar - 382019, Gujarat, India

Date of Appointment :

20.12.2014

DIN No.:

03600655

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	U45201GJ1978SGC003124	GUJARAT STATE LAND DEVELOPMENT CORPORATION LIMITED	Nominee director	22/07/2011	22/07/2011	22/04/2014	Active	NO
2	U40102GJ2003SGC042909	DAKSHIN GUJARAT VIJ COMPANY LIMITED	Nominee director	18/01/2013	16/09/2011	20/06/2014	Active	NO
3	U40102GJ2003SGC042908	PASCHIM GUJARAT VIJ COMPANY LIMITED	Nominee director	18/01/2013	22/09/2011	07/05/2014	Active	NO
4	U63040GJ1975SGC002722	TOURISM CORPORATION OF GUJARAT LIMITED	Nominee director	10/01/2013	03/10/2011	06/08/2013	Active	NO
5	U63020GJ1998PLC035039	GUJARAT GREEN REVOLUTION COMPANY LIMITED	Additional director	16/02/2013	10/10/2011	16/08/2013	Active	NO
6	U63090GJ2011SGC064839	GUJ-TOUR DEVELOPMENT COMPANY LIMITED	Director	20/12/2011	20/12/2011	04/03/2014	Active	NO
7	U34100GJ1978PLC003127	MAHINDRA GUJARAT TRACTOR LIMITED	Director	20/09/2013	18/01/2013	25/04/2014	Active	NO
8	U41000GJ1999SGC036777	GUJARAT WATER INFRASTRUCTURE LIMITED	Director	09/10/2014	09/10/2014	-	Active	NO
9	U23203GJ2007SGC050115	GSPC LNG LIMITED	Additional director	27/10/2014	27/10/2014	-	Active	NO
10	U40100GJ2006SGC047783	GSPC PIPAVAV POWER COMPANY LIMITED	Director	13/11/2014	13/11/2014	-	Active	NO
11	U40100GJ1999SGC036018	GUJARAT ENERGY TRANSMISSION CORPORATION LIMITED	Director	20/12/2014	15/11/2014	-	Active	NO
12	U40109GJ2004SGC045195	GUJARAT URJA VIKAS NIGAM LIMITED	Nominee director	15/11/2014	15/11/2014	-	Active	NO
13	L99999GJ1985PLC007868	GUJARAT INDUSTRIES POWER COMPANY LIMITED	Nominee director	15/11/2014	15/11/2014	-	Active	NO
14	U40102GJ2007SGC051396	BHAVNAGAR ENERGY COMPANY LIMITED	Additional director	22/12/2014	22/12/2014	-	Active	NO
15	U45201GJ1988SGC011453	GUJARAT STATE POLICE HOUSING CORPORATION LIMITED	Nominee director	26/12/2014	26/12/2014	-	Active	NO
16	U23100GJ1999SGC035573	GSPC GAS COMPANY LIMITED	Nominee director	22/01/2015	22/01/2015	-	Active	NO
17	L23203GJ1980PLC003623	GUJARAT GAS COMPANY LIMITED	Additional director	12/02/2015	12/02/2015	-	Active	NO
18	U40200GJ2012SGC069118	GUJARAT GAS LIMITED	Additional director	21/04/2015	21/04/2015	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Bhupendrakumar Chinubhai Shah
Designation :	Chief Financial Officer
Address :	S/2, Shreeji Astha Avenue, Near Chi Chi Tower, Ellora Park, Vadodara - 390007, Gujarat, India
PAN No :	ACMPS6207R
Date of Appointment :	24.06.2014
Name :	Mr. Nishant Lalan Shrivastava
Designation :	Secretary
Address :	36, Ashruti Tenaments, Jitodia Road, Anand - 388001, Gujarat, India
PAN No :	BJRPS0245Q
Date of Appointment :	08.09.2008
Name :	Mr. M. K. Jani
Designation :	Executive Technical Assistant to MD
Name :	Mr. A. J. Trivedi
Designation :	Deputy General Manager (HR)
Name :	Mr. Jaynish Modi
Designation :	I/C Cfm
Name :	Mr. S. A. Patel
Designation :	Deputy General Manager (HR)
Name :	Mr. Jawaharlal Maheshwari
Designation :	Dycao (Accounts)
Name :	Mr. Gaurang Thakkar
Designation :	Dycao (Accounts)
Name :	Mr. A. V. Desai
Designation :	Executive Engineer (Audit)
Name :	Mr. B.B. Chauhan
Designation :	Chief Engineer (Proj)
Name :	Mr. U. C. Patel
Designation :	Chief Engineer (TR)
Name :	Mr. B.B. Chauhan
Designation :	I/C Chief
Name :	Mr. A. K. Shirolawala
Designation :	Executive Engineer (Project- Line)
Name :	Mr. S. A. Patel
Designation :	Superintending Engineer (Testing)
Name :	Mr. J. G. Chaturvedi
Designation :	Executive Engineer (QA&I)
Name :	Mr. P. K. Shah
Designation :	Executive Engineer (Project-S/S)
Name :	Mr. N. J. Rathod
Designation :	Executive Engineer (Safety Officer)
Name :	Mr. Y. V. Joshi
Designation :	Executive Engineer (Engineering)
Name :	Mr. N. K. Patel
Designation :	Executive Engineer (TR-III)
Name :	Mr. S. V. Tailor
Designation :	Executive Engineer (TR)
Name :	Smt. ALKA S. SHAH
Designation :	Executive Engineer (R&M)
Name :	Mr. A. J. Patel
Designation :	Executive Engineer

MAJOR SHAREHOLDERS

AS ON 31.03.2014

Names of Shareholders	No. of Shares	% Age Holding
Gujarat Urja Vikas Nigam Limited (Holding Company and its Nominee)	530865391	97.70
Government of Gujarat	12500000	2.30
Total	543365391	100.00

BUSINESS DETAILS

Line of Business :	Subject is principally engaged in the business of transmission of electricity and ancillary activity.
Products/Services :	Transmission of Electricity
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

Not Divulged

Bankers :

Bank Name	State Bank of India
Branch	Industrial Finance Branch, Marble Arch, Race Course Circle, Vadodara - 390007, Gujarat, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

• Dena Bank, Alkapuri Branch, Alkapuri, Vadodara - 390007, Gujarat, India
• Syndicate Bank, Alkapuri Branch, Opposite Express Hotel, R. C Dutt R 
  Oad, Vadodara - 390007, Gujarat, India
• Union Bank Of India, Industrial Finance Branch, Sayajigunj, Vadodara - 390005, Gujarat, India,

• Canara Bank, Raopura Branch, Raopura, Vadodara - 390 
  001, Gujarat, India

• State Bank Of India
• Kalupur Bank Cooperative Bank Limited
• Oriental Bank of Commerce
• United Bank of India
• Corporation Bank

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
From Banks
Loans from commercial banks	47673.088	39531.795
Loans for working capital	2297.031	0.000
Form Other Parties
Bill discounting under deferred payment guarantee	2.419	172.890
Loan from power finance corporation	632.293	717.102
Loans from rural eletrictrication corporation	684.833	798.973
Short-term borrowings
Loans for working capital	1285.804	621.148
Total	52575.468	41841.908

Financial institutions :	Power Finance Corporation
Auditors :
Name :	Bipin and Company Chartered Accountants
Address 1:	412/302, Center Point, R.C. Dutt Road, Alkapuri, Vadodara – 390007, Gujarat, India
Address 2:	304, Sumangal Chamber, Near Ramway Plaza, Dandia Bazar, Jamboobet, Vadodara – 390001, Gujarat, India
Memberships :	-----
Collaborators :	-----
Holding Company :	Gujrata Urja Vikas Nigam Limited

CAPITAL STRUCTURE

AS ON 20.12.2014

Authorised Capital : Rs. 20000.000 Million

Issued, Subscribed & Paid-up Capital : Rs. 6050.787 Million

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000000	Equity Shares	Rs.10/- each	Rs. 20000.000 Million

Issued Capital :

No. of Shares	Type	Value	Amount
544353314	Equity Shares	Rs.10/- each	Rs. 5443.533 Million

Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
525416673	Equity Shares	Rs.10/- each	Rs. 5254.167 Million
17948718	Addition	Rs.10/- each	Rs. 179.487 Million
	Total		Rs. 5433.654 Million

FINANCIAL DATA

[All figures are in Rupees Million]

ABRIDGED BALANCE SHEET (PROVISIONAL)

SOURCES OF FUNDS	31.03.2014	31.03.2013
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	5433.654	5254.167
(b) Reserves & Surplus	28342.590	23912.192
(c) Deferred Govt.Grants Subsidies Contributions	14126.289	11790.123
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	47902.533	40956.482
(3) Non-Current Liabilities
(a) long-term borrowings	54462.473	47644.578
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	304.709	320.398
(d) long-term provisions	2266.533	2020.785
Total Non-current Liabilities (3)	57033.715	49985.761
(4) Current Liabilities
(a) Short term borrowings	1285.804	621.148
(b) Trade payables	2780.605	2258.420
(c) Other current liabilities	30241.479	25305.996
(d) Short-term provisions	231.385	197.584
Total Current Liabilities (4)	34539.273	28383.148
TOTAL	139475.521	119325.391
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	93669.554	82770.173
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	36643.825	28538.093
(iv) Intangible assets under development	2.186	0.000
(b) Non-current Investments	0.045	0.035
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	718.240	479.366
(e) Other Non-current assets	0.287	0.290
Total Non-Current Assets	131034.137	111787.957
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	3241.866	2697.760
(c) Trade receivables	4036.250	3919.111
(d) Cash and cash equivalents	306.287	212.900
(e) Short-term loans and advances	439.308	423.427
(f) Other current assets	417.673	284.236
Total Current Assets	8441.384	7537.434
TOTAL	139475.521	119325.391

PROFIT & LOSS ACCOUNT (PROVISIONAL)

	PARTICULARS	31.03.2014	31.03.2013
	SALES
	Revenue from Operations	22311.807	19738.800
	Other Income	247.291	173.615
	TOTAL	22559.098	19912.415
Less	EXPENSES
	Employees benefits expense	3898.380	3686.388
	Other expenses	2757.167	2477.198
	Prior Period Items	78.915	12.473
	TOTAL	6734.462	6176.059
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	15824.636	13736.356
Less	FINANCIAL EXPENSES	5804.690	5037.224
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	10019.946	8699.132
Less/ Add	DEPRECIATION/ AMORTISATION	5960.844	5230.242
	PROFIT/ (LOSS) BEFORE TAX	4059.102	3468.890
Less	TAX	853.191	694.228
	PROFIT/ (LOSS) AFTER TAX	3205.911	2774.662
	IMPORTS
	Capital Goods	165.514	NIL
	TOTAL IMPORTS	165.514	NIL
	Earnings / (Loss) Per Share (Rs.)	6.07	5.26

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013
Current Maturities of Long term debt	13645.806	11777.92
Cash generated from operations	18937.678	17767.664
Net cash flow from (used in) operations	18201.375	16941.548

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013
Net Profit Margin (PAT / Sales)	(%)	14.37	14.06
Operating Profit Margin (PBIDT/Sales)	(%)	70.92	69.59
Return on Total Assets (PBT/Total Assets}	(%)	3.95	3.82
Return on Investment (ROI) (PBT/Networth)		0.08	0.08
Debt Equity Ratio (Total Debt /Networth)		1.45	1.47
Current Ratio (Current Asset/Current Liability)		0.24	0.27

FINANCIAL ANALYSIS

[All figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Share Capital	5254.167	5433.654
Reserves & Surplus	23912.192	28342.590
Deferred Govt.Grants Subsidies Contributions	11790.123	14126.289
Share Application money pending allotment	0.000	0.000
Net worth	40956.482	47902.533
long-term borrowings	47644.578	54462.473
Short term borrowings	621.148	1285.804
Current maturities of long-term debts	11777.920	13645.806
Total borrowings	60043.646	69394.083
Debt/Equity ratio	1.466	1.449

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Sales	19738.800	22311.807
		13.035

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)
Sales	19738.800	22311.807
Profit	2774.662	3205.911
	14.06%	14.37%

LOCAL AGENCY FURTHER INFORMATION

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

LITIGATION DETAILS:

HIGH COURT OF GUJARAT

CIVIL APPLICATION (FOR JOINING PARTY) No. 2483 of 2015

In SPECIAL CIVIL APPLICATION / 3169 / 2014 ( PENDING )

Status : PENDING

( Converted from : C/CAST/2326/2015 )

CCIN No : 001003201502483

Next Listing Date:

20/10/2015

Coram

· HONOURABLE MR.JUSTICE R.M.CHHAYA

---

S.NO.	Name of the Petitioner	Advocate On Record
1 2 3 4	KURJIBHAI MOHANBHAI GOTI HASMUKHBHAI KURJIBHAI GOTI PREMJIBHAI AMBABHAI GOTI JAYSUKHBHAI NATTHUBHAI GOTI	MR DILIP B RANA for: Applicant(s) 1 - 4

---

S.NO.	Name of the Respondent	Advocate On Record
1 2 3 4 5	GUJARAT ENERGY TRANSMISSION CORPORATION LIMITED DEPUTY ENGINEER - E AND M EXECUTIVE ENGINEER - CONST. VIDHATA ENTERPRISE SURAT URBAN DEVELOPMENT AUTHORITY	MR SP HASURKAR for :Respondent(s) 1 - 4

---

Presented On	: 16/02/2015	Registered On	: 21/02/2015
Bench Category	: -	District	: SURAT
Case Originated From	: THROUGH HIS/HER/THEIR ADVOCATE	Listed	: 14 times
Stage Name	: ADMISSION - CA

Classification	· SJ - CIVIL APPLICATION - CODE OF CIVIL PROCEDURE, 1908 - JOINING PARTY
Act	· CIVIL PROCEDURE CODE, 1908

Office Details

S. No.	Filing Date	Document Name	Advocate Name	Court Fee on Document	Document Details
1	16/02/2015	VAKALATNAMA FILED IN MAIN MATTER	MR DILIP B RANA ADVOCATE for PETITIONER(s) 1	0	MR DILIP B RANA(691) for P:1 - 4
2	16/02/2015	ADVANCE COPY OF PETITION	MR SP HASURKAR ADVOCATE for RESPONDENT(s) 1	0	MR SP HASURKAR(345) for R:1 - 4
3	16/02/2015	MEMO OF PETITION/APPEAL/SUIT	MR DILIP B RANA ADVOCATE for PETITIONER(s) 1	20	MR DILIP B RANA(691), for P:1 - 4
4	18/03/2015	AFFIDAVIT IN REPLY	MR SP HASURKAR ADVOCATE for RESPONDENT(s) 1	0	MR SP HASURKAR(345) for R:1
5	09/04/2015	AFFIDAVIT OF DS	MR DILIP B RANA ADVOCATE for PETITIONER(s) 1	0	MR DILIP B RANA(691) for P:1
6	22/06/2015	AFFIDAVIT IN RE-JOINDER	MR DILIP B RANA ADVOCATE for PETITIONER(s) 1	0	MR DILIP B RANA(691) for P:1

Court Proceedings

S. No.	Notified Date	Court Code	Board Sr. No.	Stage	Action	Coram
1	25/02/2015	10	4	FOR REGULAR ADMISSION	NEXT DATE	· HONOURABLE SMT. JUSTICE ABHILASHA KUMARI
2	11/03/2015	12	14	ADMISSION (ADJOUNRED MATTERS)	NEXT DATE	· HONOURABLE SMT. JUSTICE ABHILASHA KUMARI · HONOURABLE MR.JUSTICE K.M.THAKER
3	20/03/2015	12	11	URGENT ADMISSION (ADJOUNRED MATTERS)	NEXT DATE	· HONOURABLE MR.JUSTICE K.M.THAKER
4	26/03/2015	12	9	URGENT ADMISSION (ADJOUNRED MATTERS)	NEXT DATE	· HONOURABLE MR.JUSTICE K.M.THAKER
5	09/04/2015	12	35	NOTICE AND ADJOURNED MATTERS	NEXT DATE	· HONOURABLE MR.JUSTICE K.M.THAKER
6	22/04/2015	12	35	NOTICE AND ADJOURNED MATTERS	NEXT DATE	· HONOURABLE MR.JUSTICE K.M.THAKER
7	01/05/2015	12	28	NOTICE AND ADJOURNED MATTERS	NEXT DATE	· HONOURABLE MR.JUSTICE K.M.THAKER
8	09/06/2015	18	55	NOTICE AND ADJOURNED MATTERS	NEXT DATE	· HONOURABLE MR.JUSTICE K.M.THAKER · HONOURABLE MR.JUSTICE N.V.ANJARIA
9	23/06/2015	18	83	NOTICE AND ADJOURNED MATTERS	NEXT DATE	· HONOURABLE MR.JUSTICE N.V.ANJARIA
10	08/07/2015	18	86	NOTICE AND ADJOURNED MATTERS	NEXT DATE	· HONOURABLE MR.JUSTICE N.V.ANJARIA
11	20/07/2015	18	95	NOTICE AND ADJOURNED MATTERS	NEXT DATE	· HONOURABLE MR.JUSTICE N.V.ANJARIA
12	03/08/2015	18	115	NOTICE AND ADJOURNED MATTERS	NEXT DATE	· HONOURABLE MR.JUSTICE N.V.ANJARIA
13	13/08/2015	11	68	NOTICE AND ADJOURNED MATTERS	NEXT DATE	· HONOURABLE MR.JUSTICE N.V.ANJARIA
14	28/08/2015	11	76	NOTICE AND ADJOURNED MATTERS	NEXT DATE	· HONOURABLE MR.JUSTICE R.M.CHHAYA
15	24/09/2015	11	137	URGENT ADMISSION - CA	NEXT DATE	· HONOURABLE MR.JUSTICE R.M.CHHAYA
16	20/10/2015	11	-	URGENT ADMISSION - CA		· HONOURABLE MR.JUSTICE R.M.CHHAYA

Available Orders

S. No.	Case Details	Judge Name	Order Date	CAV	Judgement	Questions	Transferred
1	CIVIL APPLICATION/2483/2015	· HONOURABLE MR.JUSTICE K.M.THAKER	26/03/2015	N	ORDER	-	Y
2	CIVIL APPLICATION/2483/2015	· HONOURABLE MR.JUSTICE K.M.THAKER	09/04/2015	N	ORDER	-	Y

INTRODUCTORY:

Gujarat Energy Transmission Corporation Limited (GETCO) was incorporated under companies act, 1956 on 19.05.1999. The Certificate of Commencement of business was received on 23.06.1999 from the registrar of companies. GETCO, set up for transmission of electricity through various of erstwhile Gujarat electricity board (GEB), pursuant to the Gujarat electricity industry (Reorganization and Regulations) act, 2003, was vested with the assets, properties liabilities, obligations, proceeding forming part of transmission undertaking specified in schedule b of Gujarat electricity industry reorganization and comprehensive transfer scheme, 2003. The transfer date was 01.4.2005. The transfer of assets and liabilities made under the above transfer scheme was made by the government of Gujarat vide notification no. GHU-2006-91-GUV-1106-590-K dated 03.10.2006 (hereinafter referred to as “the notification).

The consideration for the transfer of undertaking comprising of the values of assets and liabilities and the proceeding relating to transmission activities of erstwhile GEB as specified in the notification was charged by GETCO by issue of equity shares of Rs. 10/- each fully paid for consideration other than cash to Gujarat Urja Vikas Nigam Limited. (GUVNL), the successor company to erstwhile GEB as directed by government of Gujarat (GoG).

All the equity share held by erstwhile GEB in the company stood transferred by operations of law in the name of GUVNL as per the notification.

FINANCIAL RESULTS:

The turnover of the company increased by 13.29% to Rs. 22559.100 Million from Rs. 19912.400 Million during previous financial year. The net profit after tax increased by 15.54% to Rs. 3205.900 Million from 27747 during previous year. The gross asset base of the company has been enhanced to Rs. 128657.500 Million form Rs. 111785.400 Million in 2013-14.

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-Term Borrowing
Public Bonds	966.217	1544.550
Term Loans From Other Parties
Loan from power finance corporation	30.742	44.404
Loan from others	400.000	3166.667
ADB prog and proj. loan	567.014	624.019
Foreign currency loans / credits – Asian development bank	1208.836	127.511
Loans for working capital	0.000	916.667
Total	3172.809	6423.818

INDEX OF CHARGES:

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10591579	04/09/2015	4,480,000,000.00	NATIONAL BANK FOR AGRICULTUREAND RURAL DEVELOPMENT	PLOT NO C-24, G-BLOCK, BANDRA KURLA COMPLEX, MUMBAI - 400051, Maharashtra, INDIA	C64513229
2	10583544	17/07/2015	3,000,000,000.00	DENA BANK	ALKAPURI BRANCH, ALKAPURI, VADODARA - 390007, Gujarat, INDIA	C60564069
3	10582285	10/07/2015	3,802,800,000.00	NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT	C-24, G-BLOCK, BANDRA KURLA COMPLEX, BANDRA (E),  MUMBAI - 400051, Maharashtra, INDIA	C59983288
4	10533457	11/11/2014	3,000,000,000.00	SYNDICATE BANK	ALKAPURI BRANCH, OPPOSITE EXPRESS HOTEL, R. C DUTT R  OAD, VADODARA - 390007, Gujarat, INDIA	C35101021
5	10531899	05/11/2014	4,000,000,000.00	NATIONAL BANK FOR AGRICULTUREAND RURAL DEVELOPMENT	PLOT NO C-24, G-BLOCK, BANDRA KURLA COMPLEX, MUMBAI - 400051, Maharashtra, INDIA	C34013698
6	10481291	25/02/2014	3,400,000,000.00	DENA BANK	ALKAPURI BRANCH, ALKAPURI, VADODARA -  390007, Gujarat, INDIA	B97931802
7	10451136	17/09/2013	20,000,000,000.00	STATE BANK OF INDIA	INDUSTRIAL FINANCE BRANCH, MARBLE ARCH, RACE COUR  SE CIRCLE, VADODARA - 390007, Gujarat, INDIA	B85762425
8	10442257	25/07/2013	3,000,000,000.00	UNION BANK OF INDIA	INDUSTRIAL FINANCE BRANCH, SAYAJIGUNJ, VADODARA - 390005, Gujarat, INDIA	B81798399
9	10439540	10/07/2013	3,000,000,000.00	CANARA BANK	RAOPURA BRANCH, RAOPURA, VADODARA - 390001, Gujarat, INDIA	B80631716
10	10428028	16/05/2015 *	1,000,000,000.00	STATE BANK OF TRAVANCORE	AMBAWADI, ELISBRIDGE P.O., AHMEDABAD -  380006, Gujarat, INDIA	C55631105

* Date of charge modification

CONTINGENT LIABILITIES NOT PROVIDED FOR:

(Rs. in Million)

Contingent liabilities in respect of	31.03.2014	31.03.2013
Unexpired bank guarantees issued by banks	10.492	4.700
Bill discounted with bank	3750.000	Nil
Letters of credit issued by banks	Nil	Nil
Sale tax demand in appeal / dispute	Nil	Nil
Income tax demand in appeal / dispute (not provided for )	140.977	124.690
Service tax demand (excluding interest) in appeal / dispute (not provided for)	3.540	3.540
Claims against company not acknowledge as debt (legal matters)	206.976	271.718

FIXED ASSETS

Tangible assets

• Land and Land Right
• Building
• Hydraulic Works
• Other Civil Works
• Plant and Machinery
• Vehicles
• Furniture and Fixture
• Office Equipment
• Leasehold Land

CMT REPORT (Corruption, Money Laundering & Terrorism]

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

1] INFORMATION ON DESIGNATED PARTY

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

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited 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. 66.18
UK Pound	1	Rs. 100.46
Euro	1	Rs. 74.61

INFORMATION DETAILS

Information Gathered by :	PPT
Analysis Done by :	KIN
Report Prepared by :	SANS

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILITY	1~10	7
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	7
--CREDIT LINES	1~10	6
--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		62

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 unfavorable 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.