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JINDAL SOUTH WEST HOLDINGS LIMITED
(Incorporated as a public limited Company on July 12, 2001 and obtained Certificate of Commencement of Business dated September 5, 2001 under the Companies Act, 1956) Registered Office : Jindal Mansion, 5A – Dr. G. Deshmukh Marg, Mumbai – 400 026. Tel : (022) 2351 3000, Fax : (022) 2352 6400. Website : www.jsw.in INFORMATION MEMORANDUM FOR LISTING OF 1,10,99,625 EQUITY SHARES OF RS. 10/- EACH GENERAL RISKS Investment in equity and equity-related securities involve a degree of risk and investors should not invest in the equity shares of Jindal South West Holdings Limited unless they can afford to take the risk of losing their investment. Investors are advised to read the Risk Factors carefully before taking an investment decision in the shares of Jindal South West Holdings Limited. For taking an investment decision, investors must rely on their own examination of the Company including the risks involved. ABSOLUTE RESPONSIBILITY OF JINDAL SOUTH WEST HOLDINGS LIMITED Jindal South West Holdings Limited having made all reasonable inquiries, accepts responsibility for, and confirms that this Information Memorandum contains all information with regard to Jindal South West Holdings Limited, which is material, that the information contained in this Information Memorandum is true and correct in all material aspects and is not misleading in any material respect, that the opinions and intentions expressed herein are honestly held and that there are no other facts, the omission of which makes this Information Memorandum as a whole or any of such information or the expression of any such opinions or intentions misleading in any material respect. LISTING The Equity Shares of Jindal South West Holdings Limited are proposed to be listed on The Stock Exchange, Mumbai (BSE), National Stock Exchange of India Limited (NSE) and The Delhi Stock Exchange Association Limited (DSE). SHARE TRANSFER AGENT Sharepro Services (India) Pvt. Ltd. Satam Estate, 3rd Floor, Above Bank of Baroda, Cardinal Gracious Road, Chakala, Andheri (E), Mumbai – 400 099. Tel.: (022) 2821 5168 / 5991, Fax: (022) 2837 5646 Email: email@example.com.
TABLE OF CONTENTS
Risk Factors……………….……………….……………….……………….…………….. General Information……………….……………….……………….……………….……. Capital Structure……………….……………….……………….……………….………... Objects of the Scheme of Arrangement & Amalgamation……………….………………. Business……………….……………….……………….……………….………………… History……………….……………….……………….……………….……………….…. Management……………….……………….……………….……………….……………. Promoters / Promoter Group Companies and Associated Companies……………….…… Subsidiary Companies……………….……………….……………….……………….…. Management Discussion & Analysis……………….……………….……………….…… Promise versus Performance……………….……………….……………….……………. Outstanding Litigation and Material Developments……………….……………….……. Government Approvals……………….……………….……………….………………… Other Regulatory Disclosures……………….……………….……………….………….. Dividend Policy……………….……………….……………….……………….………… Financial Information……………….……………….……………….……………….…... Main Provisions of the Articles of Association of JSWHL……………….……………… Material Contracts and Documents……………….……………….……………….……... Declaration……………….……………….……………….……………….……………... Definitions & Abbreviations……………….……………….……………….…………….
3 5 9 13 14 15 16 24 74 75 76 81 119 120 121 122 134 137 138 139
An investment in equity shares involves a high degree of risk. You should carefully consider all of the information in this Information Memorandum, including the risks and uncertainties described below. If any of the following risks actually occur, our business, financial condition and results of operations could suffer, the trading price of our Equity Shares could decline, and you may lose all or part of your investment. Internal Risk Factors Jindal South West Holdings Limited (“JSWHL”) is an Investment Company. Therefore, its main source of income is from dividend from its investment made in listed/unlisted companies. Therefore, any adverse financial impact on the operations / business / performance of investee companies will have negative impact on the revenue of JSWHL. Downturns or disruptions in the securities markets could reduce transaction volumes, and could cause a decline in the business and impact our profitability. A significant portion of our revenue has been from Dividend and although we may diversify our revenue sources, we expect dividend income to account for a significant portion of our revenues in the foreseeable future. Like other investment companies, we are affected directly by national and global economic and political conditions, broad trends in business and finance, disruptions to the securities markets and changes in volume and price levels securities and future transactions. We depend on our management team and the loss of team members may adversely affect our business. We believe that we have a strong team of professionals to oversee the operations and growth of our businesses. If one or more members of our management team are unable or willing to continue in their present positions, such persons would be difficult to replace and our business would be adversely affected. We may loose our key management team to our competitors. Future sales by shareholders could cause the price of equity shares to decline. If the shareholders sell a substantial number of equity shares in the public market, the market price of the equity shares could fall. Indian securities laws permit venture capital funds and foreign venture capital investors registered with SEBI as well as other shareholders other than promoters, to dispose of their equity shares immediately following the listing. The remaining pre-merger capital equity shares are subject to lock-in for 3 years from the date of listing. Equity shares held by promoters upto 20% of the post – issue capital are subject to lock in for a period of 3 years from the date of listing. Details about promoters and group companies Details about the promoters and group companies (including the loss making companies in one or more of the last three financial years ending March 31, 2004) along with litigation details, penalty, if any, imposed by regulatory authorities against the promoters and group companies are provided hereinafter in this Information Memorandum in respective sections. External Risk Factors Legal and Compliance Risk Legal and compliance risk refers to the possibility that we will be found, by a court, arbitration panel or regulatory authority, not to have complied with an applicable legal or regulatory requirement. In addition, we are subject to extensive regulation by SEBI, BSE, NSE, DSE, RBI and other state and -3-
Increase volatility in the financial markets can have an adverse impact on the economic of India and other countries including economic recession. results in a loss of business confidence and adversely affect the business. or an active trading market for our Company’s equity shares may not develop. results of operations and financial condition. New laws/rules and changes in any law and application of current laws/rules could affect our manner of operations and profitability. Significant development in the regulation of financial services market. Terrorist attacks and other acts of violence or war involving India and other countries could adversely affect the financial markets. including: • • • • • • • Volatility in the Indian and Global securities market. -4- . Adverse media reports on our Company or on the Indian financial services industry. including those involving India or other countries and other such acts. There can be no assurance that an active trading market for the equity shares will develop or be sustained after this listing. could adversely affect Indian and worldwide financial markets. Significant development in India’s economic liberalization and deregulation policies and Significant development in India’s fiscal and environmental regulations. the prices of our Company’s equity shares may be volatile. Terrorist attacks and other acts of violence or war. Our Company’s share price could be volatile. results of operations and financial condition. After this listing. There has been no public market for our Company’s equity shares till now and the prices of our Company’s equity shares may fluctuate after this listing. Such acts may also result in a loss of business confidence and have other consequences that could adversely affect our business.Information Memorandum market regulators in India. The price of our Company’s equity shares on Indian Stock Exchanges may fluctuate after this listing as a result of several factors. The results of operations and performance’ Perceptions about our Company’s future performance or the performance of Indian investment and consultancy companies.
Maharashtra. title and interest of JISCO therein. In accordance with the said Scheme. subject to applicable regulations. above relaxation is also subject to JSWHL confirming the following: - -5- . K. G. 1956. stands transferred to and vested in JSWHL so as to vest in the JSWHL all the rights.e. Mumbai on November 22. the Appointed Date under the Scheme).3. CFD/DIL/SR/38545/2005 dated April 15. vide its letter no. Maharashtra. Atul Desai Mr. 2000. NSE and DSE at the time of the application by JSWHL seeking listing. 2005 has granted relaxation from the applicability of Rule 19(2)(b) of the Securities Contract Regulation (Rules). The aforesaid Order of the Honourable High Court of Judicature at Bombay was filed by JSWHL with the Registrar of Companies (“ROC”). Managing Director & CEO Mr.e.5. K. Gupta Mr. Mumbai on February 4. S.5. Marine Drive. without any further act. 2004 and the Order of the Honourable High Court of Karnataka was filed by JSWHL with the ROC. Jindal South West Holdings Limited (“JSWHL”). the National Stock Exchange of India Limited (“NSE”) and The Delhi Stock Exchange Association Limited (“DSE”). K.1 (iv) – (viii). Chairman Mr. Mumbai. Sajjan Jindal. Jindal Vijayanagar Steel Limited (“JVSL”) and their respective members and creditors (the “Scheme”) whereby the Investment Division of JISCO.3. pursuant to the provisions of Section 391-394 of the Companies Act.3. the Equity Shares of JSWHL issued pursuant to the Scheme as well as existing shares of JSWHL issued for the purpose of incorporation shall. Mumbai – 400 002. Subsequently. Deshmukh Marg. NSE and DSE for such issues and also subject to such other terms and conditions as may be prescribed by BSE. 1957 (SCRR) subject to JSWHL complying with the provisions of Clauses 8. Mumbai (“BSE”).Information Memorandum GENERAL INFORMATION Name & Registered office of the Company Jindal South West Holdings Limited Jindal Mansion. 2004 and January 20. Maharashtra. Further. have approved the Scheme of Arrangement & Amalgamation between Jindal Iron & Steel Company Limited (“JISCO”). Patel. subject to subsisting of charges and pledges. instrument. 1st April. 8. 11-132705 – registered with : The Registrar of Companies. Such listing and admission for trading is not automatic and will be subject to fulfillment by JSWHL of listing criteria of BSE.4 of SEBI (DIP) Guidelines. SEBI. Jain Dr. which is the Effective Date of the Scheme. Registration No. 2005. 2005 respectively. Mumbai – 400 026. be listed and admitted to trading on The Stock Exchange.5.f. 100. Everest. N. if any w.3 and 8. 5A – Dr. Jt. N. or deed. 2003 (i. Board of Directors 1) 2) 3) 4) 5) 6) Mr. Shailesh Haribhakti Authority for Listing The Honourable High Courts of Judicature at Bombay and of Karnataka vide their Orders dated September 3.
Jindal Iron & Steel Company Limited.5. or warrant that this Company’s securities will be listed or will continue to be listed on the BSE. containing information about itself and Group Companies to BSE.3. its promoters. certify or endorse the correctness or completeness of any of the contents of this Information Memorandum. JSWHL has submitted its Information Memorandum.4 of SEBI (DIP) Guidelines. other companies promoted by the promoters and companies with which the Company’s directors are associated as directors have not been prohibited from accessing the capital markets under any order or direction passed by SEBI. Disclaimer Clause of BSE As required. or -6- .5. NSE and DSE for making the said Information Memorandum available to public through their websites. JSWHL will publish an advertisement in the newspapers containing its details in line with the details required as per clause 8. its directors. namely. Caution The Company accepts no responsibility for statements made otherwise than in the Information Memorandum or in the advertisements to be published in terms of Clause 8.1 (iii) of SEBI (DIP) Guidelines. namely. namely.5. All information shall be made available by the Company to the public and investors at large and no selective or additional information would be available for a section of the investors in any manner. a copy of this Information Memorandum has been submitted to BSE. 2000 excludes the following: i) Promoters and persons acting in concert of pre-arrangement listed transferor company. Jindal South West Holdings Limited b) Neither the unlisted transferee Company.Information Memorandum a) For the purpose of satisfying at least 25% of post-scheme paid up capital of unlisted transferee company. JSWHL will comply with the aforesaid conditions stipulated by SEBI. Prohibition by SEBI The Company. Jindal South West Holdings Limited nor its promoters/directors are debarred by SEBI from accessing the capital market. Jindal South West Holdings Limited to be with public holders of shares in the pre-arrangement listed transferor company.4 of SEBI (DIP) Guidelines. Jindal Iron & Steel Company Limited as defined in SEBI (Substantial Acquisition of Shares & Takeovers) Regulations. ii) Any shareholder of pre-scheme unlisted transferee company. namely. 1997. the “Public Holders” referred in clause 8. 2000 or any other material issued by or at the instance of the Company and anyone placing reliance on any other source of information would be doing so at his or her own risk.3. JSWHL has made the said Information Memorandum available on its website.3. The BSE does not in any manner: warrant. namely. The company has filed applications with BSE for listing of above Equity Shares.
Listing Applications will be made to BSE. its promoters. its management or any scheme or project of this Company.Information Memorandum take any responsibility for the financial or other soundness of this Company. certify or endorse the correctness or completeness of any of the contents of this Information Memorandum. JSWHL has nominated BSE as the Designated Stock Exchange for the aforesaid listing of the shares. Disclaimer Clause of the NSE As required. -7- . Filing Copies of this Information Memorandum being filed with BSE. investigation and analysis and shall not have any claim against the NSE whatsoever by reason of any loss which may be suffered by such person consequent to or in connection with such subscription/acquisition whether by reason of anything stated or omitted to be stated herein or any other reason whatsoever. Every person who desires to apply for or otherwise acquire any securities of this Company may do so pursuant to independent inquiry. nor does it in any manner warrant. JSWHL shall ensure that all steps for the completion of necessary formalities for listing and commencement of trading at all the Stock Exchanges mentioned above within such period as approved by SEBI. and it should not for any reason be deemed or construed to mean that this Information Memorandum has been cleared or approved by the BSE. Demat Credit JSWHL has executed Agreements with NSDL and CDSL for admitting its securities in demat form. its promoters. 2005). its management or any scheme or project of this Company. nor does it take any responsibility for the financial or other soundness of this Company. No ratings have been received by the Company for other securities/instruments in the last three years. and DSE in due compliance with the directive issued by BSE. NSE. no credit rating is required. The Company has made allotment of equity shares in demat form to those shareholders who have provided necessary details to the Company and/or who were holding their shares in JISCO in demat form as on the Record Date (February 25. It is to be distinctly understood that the aforesaid permission given by NSE should not in any way be deemed or construed to mean that this Information Memorandum has been cleared or approved by NSE. Remaining shareholders were allotted shares in physical mode. NSE and DSE for permission to deal in and for an official quotation of the Equity Shares of the Company. nor does it warrant that this Company’s securities will be listed or will continue to be listed on the NSE. The Company has filed applications with NSE for listing of its equity shares. Credit Rating This being an issue of equity shares. investigation and analysis and shall not have any claim against the BSE whatsoever by reason of any loss which may be suffered by such person consequent to or in connection with such subscription/acquisition whether by reason of anything stated or omitted to be stated herein or for any other reason whatsoever. Every person who desires to apply for or otherwise acquires any securities of the Company may do so pursuant to independent inquiry. a copy of this Information Memorandum has been submitted to NSE.
Share Transfer Agent Sharepro Services (India) Pvt. Ltd. Satam Estate, 3rd Floor, Above Bank of Baroda, Cardinal Gracious Road, Chakala, Andheri (E), Mumbai – 400 099. Tel.: (022) 2821 5168 / 5991, Fax: (022) 2837 5646 Email: firstname.lastname@example.org. Registrar & Share Transfer Agent’s Investor Relation Centre Sharepro Services (India) Pvt. Ltd. 912, Raheja Centre, Free Press Journal Marg, Nariman Point, Mumbai – 400 021. Tel : (022) 2288 4527, 2284 4668 Fax : (022) 2282 5484
Auditors Shah Gupta & Co. Chartered Accountants 38, Bombay Mutual Building, 2nd Floor, Dr. D. N. Road, Fort, Mumbai – 400 001. Banker to the Company Vijaya Bank Clover Apartment, 29, Cuffe Parade, Colaba, Mumbai – 400 005. Compliance Officer and Company Secretary Mr. Virendra Samani Jindal South West Holdings Limited Jindal Mansion, 5A – Dr. G. Deshmukh Marg, Mumbai – 400 026. Tel : (022) 2351 3000, Fax : (022) 2352 6400 Email : email@example.com Investors can contact the Compliance Officer in case of any share transfer related problem.
SHARE CAPITAL A. Authorised Share Capital 1,15,00,000 Equity Shares of Rs. 10/- each Issued, Subscribed And Paid-Up Capital 1,10,99,625 Equity Shares of Rs. 10/- each fully paid up Number of Equity Shares issued as per Scheme of Arrangement & Amalgamation approved by the High Court of Judicature, at Mumbai and Karnataka 109,99,625 Equity Shares of Rs. 10/- each Equity Capital after implementation of the Scheme 1,10,99,625 Equity Shares of Rs. 10/- each Share Premium Account Before the Scheme After the Scheme
Aggregate Value (in Rs.) : 11,50,00,000
1) The authorised share capital of the Company at the time of incorporation was Rs. 25 lakhs, divided into 2,50,000 equity shares of Rs.10 each. Subsequently the authorized share capital was increased to Rs 11.50 crores vide resolution passed at its Extra-Ordinary General Meeting held on December 6, 2003. 2) As per the Scheme, JSWHL issued 1,09,99,625 equity shares to erstwhile shareholders of JISCO [holding fully paid-up shares in JISCO and whose names appeared in the register of members of JISCO on record date (i.e. February 25, 2005)] in respect of every 4 equity shares of the face value of Rs.10/- each fully paid-up held by him/ her/ it in JISCO, 1 equity share of the face value of Rs.10/- each of the Company as fully paid up. Notes to the Capital Structure
1) Share Capital History of our Company
Sr. No Date of Allotment Mode of Issue No. of Shares Cummulative paid up capital (Rs.) Issue Price (Rs.) Face Value (Rs.) % of post Scheme paid up capital
Equity Shares are allotted and issued to the subscribers of Memorandum of Association Private Placement
Pursuant to the Scheme of Arrangement & Amalgamation
2) Lock-in details for shares of JSWHL:
The promoters shall lock-in to the extent of 20% of the post merger paid up capital (i.e. 22,19,925 equity shares) of JSWHL and also the balance of the entire pre-merger capital of JSWHL (i.e. 1,00,000 equity shares) for a period of three (3) years from the date of listing of shares. In nutshell, the total shares to be under lock-in will be to the extent of 23,19,925 equity shares.
3) Promoters of JSWHL, their relatives and associates, and their Directors have not purchased or
sold or financed, directly or indirectly, any equity shares from the date of approval of the Scheme by the High Courts till the date of submission of this Information Memorandum except the allotment of shares were made pursuant to the Scheme of Arrangement & Amalgamation.
4) Shareholding pattern of JSWHL before and after the Scheme:
Category A. Promoter Group
Pre-Scheme No. Shares %
Post-Scheme No. Shares %
(1) Promoters -- Indian Promoters -- Foreign Promoters (2) Persons Acting in Concert Sub-Total (A) B. Non-Promoters (3) Institutional Investors (a) UTI (b) Mutual Funds Institutions, 99,500 -500 1,00,000 99.50 -0.50 100.00 62,07,302 -5,246 62,12,548 55.92 -0.05 55.97
10,851 6,14,595 2,23,308
0.10 5.54 2.01
(c) Banks, Financial Insurance Companies (d) FIIs
(4) Others (a) Private Corporate Bodies (b) Indian Public (c) NRIs / OCBs (d) Any other (please specify) – Trust Sub-Total (B) Grand Total (A+B)
438,218 15,14,116 1,52,599 61,959 21,66,892 1,10,99,625
3.95 13.64 1.37 0.56 19.52 100.00
- 10 -
by way of split/consolidation of the denomination of Equity Shares or further issue of Equity Shares (including issue of securities . Vijay Karayi Total 20000 15000 14300 100 100 100 100 100 100 100 50000 6) As on the date of this Information Memorandum. Ltd. Nirmal Kumar Jain Mr. 8) JSWHL presently does not have any intention or proposal to alter its Equity capital structure for a period of six (6) months from the date of listing the shares. Ram Prakash Nangalia Mr. Top ten shareholders on the date of filing the Information Memorandum with Stock Exchange Name of the shareholders Number of Equity Shares On the date of 10 days prior to the filing of date of filing of Information Information Memorandum Memorandum with with Stock Stock Exchanges Exchanges 1 2 3 4 5 6 7 8 9 10 Jindal Strips Ltd HSBC Global Investments Fund A/c CBC Bahrain FIR Equity A/c Vrindavan Services Private Ltd Gagan Trading Co. 7) There will be no further issue of Equity capital whether by way of issue of bonus shares. Raman Madhok Mr. No. options or rights to convert debentures.11 - . loans or other instruments into equity shares of JSWHL. rights issue or in any other manner during the period commencing from the date of approval of the Scheme by the High Courts till listing of the Equity Shares to be allotted as per the Scheme. there are no outstanding warrants. preferential allotment. Seshagiri Rao M V S Mr. Kantilal Narandas Patel Mr. Vishnu Prakash Garg Mr. Top ten shareholders on the date of incorporation of JSWHL Name of the shareholders Number of Equity Shares on the date of incorporation of JSWHL 1 2 3 4 5 6 7 8 9 10 Gagan Trading Company Limited Reynold Traders Private Limited Vrindavan Services Private Limited Mr. Beaufield Holdings Ltd Jindal Equipment Leasing and Consultancy Services Ltd Sun Investments Private Ltd HSBC Equity Fund Reynold Traders Pvt. Ltd. No. Total 1137043 842049 825751 642400 538137 480699 419584 365332 333403 320500 5622888 1137043 842049 825751 642400 538137 480699 419584 365332 333403 320500 5622888 (b) Sr.Information Memorandum 5) The list of top 10 shareholders of JSWHL and the number of Equity Shares held by them: (a) Sr.
12 - . directly or indirectly for Equity Shares) whether preferential or otherwise. 9) There shall be only one denomination for the Equity Shares of JSWHL. . 10) JSWHL has around 31.933 members as on the date of filing of this Information Memorandum. subject to applicable regulations and JSWHL shall comply with such disclosure and accounting norms specified by SEBI. from time to time.Information Memorandum convertible into exchangeable.
the shareholders have also got the shares of JVSL as per the Scheme. This would result in overall saving in cost and maximization of shareholders value. cost synergies. Re-organisation of the capital structure of JVSL including issue of warrants of JVSL to all its existing shareholders. In nutshell. related loans and advances of JISCO into Jindal South West Holdings Limited (JSWHL). enhancing financial strength. increase control. . consolidation of core business. the overall strategic obligations of the Scheme envisaged: Demerger of the Investments and related loans and advances of JISCO into JSWHL.13 - . To provide an opportunity to the shareholders of JSWHL to unlock the value component of JISCO’s Investment in Jindal Group companies. The basic thesis contemplated was to create an integrated steel player focus solely on the steel business. A consolidation will result in achieving a focused and integrated steel business of JISCO and JVSL into a single entity which would lead to several benefits including rationalisation. At the same time. flexibility. efficiency.Information Memorandum OBJECTS OF THE SCHEME OF ARRANGEMENT & AMALGAMATION The objects of the Scheme of Arrangement & Amalgamation between JISCO. The investments being demerged comprise shareholdings in JVSL and certain other investment and related loans and advances. operational and financial synergies. JSWHL. cost reduction. This would boost the confidence of the shareholders of the merged Company (JISCO and JVSL) to invest with a clear investment thesis. utilization of taxshields. It will result in creation of an end-to-end chain from iron ore to galvanized products. economics of scales and enhancing entity value. Ltd (JISCO) with Jindal Vijayanagar Steel Ltd and demerger of the investments. The consolidation of the Steel Businesses will lead to operational synergies besides certain additional benefits as mentioned above. as the equity shares of JSWHL (into which the Investment Division is transferred under the Scheme) allotted to them will be listed on the Stock Exchanges. focus identities. JVSL and their respective members and creditors are given below: As part of the strategic review. the Jindal Group decided to restructure its steel business of Jindal Iron & Steel Co. maximum production of value added products. Amalgamation of Steel Business of JISCO (Remaining Business) with JVSL.
14 - . marketing. cost control. HRD. as are usually rendered by consultants for and in connection with the management.. stocks or other securities of Companies. Public bodies / authorities. JSWHL a Company is mainly engaged in the investment activities by investing in shares. local bodies in India or abroad. publicity. technical know how planning. manufacture / production in all types of industries to and for institution. Jindal Stainless Limited. Jindal Steel & Power Limited. Trustees etc. These shares were transferred to JSWHL by JISCO under the Scheme of Arrangement approved by The Honourable High Courts of Judicature at Bombay and Karnataka vide their Orders dated September 3. management. associations (incorporated or unincorporated). design etc. development. organization. Jindal Strips Limited and other companies. commencement or expansion. Public or local authorities. JSWHL also provides consultancy services and acts as advisors inter alia in matters and problems relating to finance. 2005 respectively. bodies. departments and services of the Govt.Information Memorandum BUSINESS JSWHL is an Investment Company and presently holds investments in equity shares of Jindal Group companies mainly in listed entities like Jindal Vijayanagar Steel Limited. . concerns. supervision. 2004 and January 20. research.
stocks. debenture stocks. Human Resource Development.50 crores. trustees. commencement or expansion of industry. municipal and local bodies. management. export and import. to provide technical know-how. Alteration of Clause 21 of Memorandum of Association July 27. sales. 25 lakhs to Rs. acquire. development. government. render advise on planning. sell or otherwise dispose-off any company or companies. information and knowledge and experience and as such undertake for an on behalf of clients to set-up any plant or project in or outside India. whether in India or elsewhere and for this purpose of invest in. hold. 2004 . debentures. to make feasibility studies. debentures or other securities in such promotee companies and also to otherwise invest in. acquire. financial. whether in India or abroad 2) To carry on the business of acting as advisors and consultants on all matters and problems relating to the technical industries. to provide procurement. The main objects of JSWHL as set out in its Memorandum of Association are as follows: 1) To form. publicity. 2003 Particulars Increase in Authorised Share Capital from Rs. assist in acquisition of plant and machinery. design. plant and merchandise. 2001 and it was granted certificate of Commencement of Business on September 5. underwrite. material and cost control. advertisement. public or local authorities. plant operation. personnel. purchases. civil.Information Memorandum HISTORY JSWHL was incorporated on July 12. bodies.15 - . bonds. research. supervision. production. 11. sell or otherwise deal in shares. production in all types of industries to and for institution. stocks. negotiable instruments. finance and organisation. 2001. construction and technical services and to render such other services as are usually rendered by consultants for and in connection with the management. purchasing techniques and business (including construction of plants and buildings). civil. hold. administration. public body or authority. concerns. securities of any Company. Date December 6. administration. associations (incorporated or unincorporated). manufacture. incorporate or promote. sell or otherwise dispose-off shares. Change in Memorandum of Association of JSWHL since its inception. Scientific Research and Development centres and also to entire into any arrangements by way of turnkey project involving supply of technical. marketing. departments and services of the government.
Ltd Tarini Properties Pvt. 32. S. Mumbai – 400 034 Advocate & Solicitor 66 • 55 • • • • .Information Memorandum MANAGEMENT Board of Directors The following table sets forth details regarding the Board of Directors of JSWHL. Vellard View. 14. Jindal Technologies & Management Services Pvt. South West Mining Ltd. Walkeshwar Road. Art India Publishing Co. Patel Jt. Lallubhai Shamaldas Road. Mumbai – 400 058. Address. Sapphire Technologies Ltd. Ltd. Suman. Samarth Holdings Pvt. N. P. Ltd. O. Andheri (W). Haji Ali. Heritage Airlines Pvt. Ltd. Ltd Windsor Residency Pvt. Industrialist Mr. Ltd. Vijayanagar Minerals Private Ltd Ferro Green Technologies Pvt. Managing Director & CEO (S/o Shri Narandas B. Glofame Cotspin Industries Ltd Welspun Syntex Ltd TCFC Finance Ltd India Safety Vaults Ltd 54 Mr. 64. Yesho – Mangal. N. Occupation Mr. Hampi Investments Pvt. Jindal Praxair Oxygen Company Pvt. Pvt. Ltd. Company Executive 58 Dr. Jindal Aluminium Ltd South West Port Ltd Jindal Steel & Alloys Ltd. Ltd. Play Ground Road. P. Jindal) Jindal House. Father’s Name. Southern Iron & Steel Company Ltd Jindal Thermal Power Co. Bangalore – 560 062 Company Director Mr. Ltd. Sapphire Technologies Ltd Heritage Airlines Pvt. Company Executive Age (in years) 46 Other Directorships • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • Jindal Vijayanagar Steel Ltd Jindal Thermal Power Company Ltd. Jindal Vijayanagar Steel Ltd Vesuvius India Ltd EcoCoke & Power Private Ltd Encore Software Ltd. K. K. Twenty First Century Printers Ltd.16 - . K. Mumbai – 400 057. Patel) 12. Ltd. Atul Desai Director (S/o Shri Manubhai Desai) C/62. Ltd Tanvi Residency Pvt. Jain Director (S/o Shri Bradhi Chand Jain) 302. Steelmet Marketing (India) Pvt. Name. Sajjan Jindal Chairman (S/o Late Shri O. Jindal Overseas Pte Ltd. Ltd JSW Power Ltd Jindal Coated Steel Pvt. Mumbai – 400 006. Tardeo Road. Doddakalasandra. Ltd Tarini Properties Pvt. Singapore Garden. Tanvi Residency Pvt. B. SciTech Patent Art Services Pvt. Vile Parle (East). Ltd. Designation. Kanakapura Road. Gupta Director (S/o Shri Sushil Kumar Biswas) 14. Ltd. Ltd. Ltd.
for the complete backward integration. one of the largest business house in India having a turnover of over 3 billion US$. Alliance Capital Asset Management (I) Pvt. JBF Industries Ltd. and Vijayanagar Minerals Private Ltd. Mr. Haribhakti) 7. Equity Trustee Ltd. Chartered Accountant 49 • • • • • • • • • • • • • • • • • • • • Pantaloon Retail (India) Ltd. IDBI Capital Market Services Ltd. Ltd. He is a keen sportsman & avid squash player with an interest in art.. theatre & culture. Ltd. Mumbai – 400 026. After graduation. Sajjan Jindal Sajjan Jindal was born on December 5. Jindal South-West group was formed in the year 2004. as a Joint Managing Director and retained this position until 1983. Ltd. National Shipping Board and Tirumala Tirupati Devasthanams Board. Ltd. in Calcutta.17 - . To achieve better synergies in the operations of group companies. 1959. . Mr. SIDBI Venture Capital Ltd. JSW Group is having an annual turnover of over 1. India. In 1989 he got associated with Jindal Iron & Steel Company Ltd. 4th Floor. Jindal moved to Mumbai to independently look after the western region operations of Jindal Organisation in 1983.. Bhulabhai Desai Road. Moores Rowland Consulting Pvt. manufacturing Cold Rolled and Galvanized Sheet Products. Jindal Thermal Power Company Ltd. Ltd.Information Memorandum Mr. Walchand Capital Ltd. Morarjee Textiles Ltd. He also promoted Jindal Vijayanagar Steel Ltd. Jindal Praxiar Oxygen Ltd. Indore. Advantage Comfort Pvt. Mahindra Gesco Eastern Ltd. Haribhakti MRI Corporate Services Pvt. Jindal is a member of the Bombay Chapter of the Young Presidents’ Organisation. Gujarat Adani Port Ltd. Advantage Moti India Pvt. 47A. Birla Global finance Ltd. Ltd. Indian Petrochemicals Corporation Ltd. All these businesses were formed to achieve the core competency in the production of Flat Steel Products. Kotak Mahindra Pvt. Brief Biographies of the Directors Mr. Vidyavihar Containers Ltd. He is also a Member of Board of Directors of Indian Institute of Management. Firpos Premises. Ambuja Cement Eastern Ltd.5 billion US$ and is a part of Jindal Organisation. The Rubber Products Ltd. he joined Swastik Foils. Shailesh Haribhakti Director (S/o Shri Vishnubhai B. South West Port Limited and Southern Iron and Steel Company Limited were added in JSW Group in the year 2004. He received his Bachelor of Engineering degree in Mechanical Stream from Bangalore University in the year 1982. E-Biz Chem Pvt.
Mr. 1995 and was responsible for Corporate Finance.). He was also involved in negotiating the joint venture collaboration of JVSL with Tractebel of Belgium for setting up the 2 x 130 mw Power Plant and with Praxair of USA for 2 x 2500 tpd air separation plant. Ph. He also acted as Director (Commercial) & Director (Corporate Affairs) of JISCO.Sc. K. Jain has been closely associated with Jindal Vijayanagar Steel Limited. Engg. Mr. He is Chairman of JSW Power Limited and also director of other Jindal Group Companies. He made significant contributions in the areas of Strategic Planning. (Tech. Project Identification & Appraisal. N. K. (Tech. Gupta is B. His professional interests include management development / training and his personal interests lie in yoga. Jain Mr. Mr. Gupta Dr. He was with Standard Industries Limited for 21 years prior to joining the Jindal Group.Sc. (Met. Europe and USA. N. prior to joining the Jindal Organisation. He has made significant contribution in the areas of Financial Management. Jindal Technologies and Management Services Private Limited & other companies. Management Information Systems and Corporate Taxation. He was Executive Vice Chairman of Jindal Iron & Steel Company Limited (JISCO – now merged with JVSL). N. theatre and reading. S. Patel Kantilal Narandas Patel is a Commerce Graduate from Mumbai University and Fellow Member of Institute of Chartered Accountants of India. K. Mr. Mr. is currently Chairman of Southern Iron And Steel Company Limited & Jindal Praxair Oxygen Company Private Limited and Vice Chairman of Jindal Thermal Power Company Limited. Jindal is a young and dynamic entrepreneur who believes that India is a global destination for industry and trade. he has gained enormous insights into the workings of many successful companies overseas. light music. He was with Permanent Magnets Limited for 22 years. He believes that the key to success for any entrepreneur is to change his business model ahead of time.18 - .D. From inception. theatre and sports. He is a strong supporter of team building and core competence. He joined Jindal Iron & Steel Company Limited (erstwhile) as Vice President (Finance) in August. Accounts and Taxation. Having extensively traveled to Asia.) . Dr.Information Memorandum Mr. K. D. Joining as General Manager – Finance in 1992. light music. Jain holds a fellowship from the Institute of Chartered Accountants and The Institute of Company Secretaries of India. he led JISCO’s tremendous growth in turnover. integrated steel plant. Sapphire Technologies Limited. His personal interest lies in reading. Nirmal Kumar Jain. Mr. Corporate Financial Management and also Human Resources. Jain has been invited as a core member of various corporate management groups. 58.). which is implemented by Jindal Organisation with JISCO as the lead promoter. Patel is also Director of Jindal Steel & Alloys Limited.
& Member.T. SAIL.Executive Board. LL.Indian Institute of Metals. Task Force on ‘Steel Growth Plan till 2010’. Editor of a Monograph on Blast Furnace Iron making. Managing Director.The Caparo Group. Tata Refractories Ltd. President . Published over 75 research papers in India and abroad on technology and management.... Advocates & Solicitors. Research Council. 1974. Managing Director. Hindustan Zinc Ltd. Bharat Bhari Udyog Nigam Ltd. Atul Desai Mr.Voest-Alpine Industrieanlagenbau GmbH. Dhanbad. Chairman. Became a partner of M/s Kanga & Co. Board of Directors. Sponge Iron India Ltd. Mr. MECON Ltd.1998. Sc.The Government of Orissa President/Managing Director/Executive Vice Chairman. B. Calcutta. Standing Conference of Public Enterprises (SCOPE). Solicitor & Advocate.1980 Honorary Member . & Head of Metallurgical Engineering. (Super Alloys Plant)... Indian Iron & Steel Co.. Central Fuel Research Laboratory.I.Indian Institute of Metals.. Jindal Vijayanagar Steel Ltd.19 - . Jindal Praxair Oxygen Company Ltd. Government of India. Committee of Technology. Jindal Iron & Steel Company Ltd. Several National Committees constituted by the Ministry of Steel. Work Experience of Mr.. on 01-04-1980 Has attended to about 100 mergers and amalgamations and demergers in the Bombay High Court. CSIR. Calcutta-1995 National Metallurgist Award . Vishakapatnam Steel Plant (RINL). International Iron & Steel Institute. Research Council. Ltd. Regional Research Laboratory. Independent Technical/Management Consultant to: . Hyderabad Director. Linz. Department of Science & Technology... London . Atul Desai born on January 27.Information Memorandum Formerly: Prof. Chairman..B. Indian Institute of Metals. UNESCO Fellow to Moscow Steel Institute Distinguished Alumnus Award. Central Mine Planning & Design Institute Ltd. Has attended to a large number of arbitrations involving commercial disputes and disputes under Building Contracts and Turn-key Contracts. Mishra Dhatu Nigam Ltd. Belgium.Industrial Development Bank of India. Chairman. Board of Governors. Bombay.. . Chairman-cum-Managing Director. Bhubaneswar. Iron & Steel Division. Indian Institute of Technology. Ministry of Defence. SAIL. Part-time Director . Calcutta. reputed Law Firm as solicitor Assistant in November. Holds three patents. Rourkela Steel Plant. R&D Centre. National Institute of Foundry & Forge Technology. etc. Austria . Member . Sindri Metallurgist of the year Award . 1950 is B. Desai : • • • • Joined M/s Kanga & Co.
This draft agreement will be available for inspection at the registered office of the Company.2010. the aggregate value of all the perquisites and allowances like furnished accommodation or HRA in lieu thereof. Patel who is the Jt. His contribution to the corporate world and society comes through the leadership roles.Information Technology Committee of the Indian Merchants’ Chamber (IMC) 2001 Chairman – Corporate Governance Committee of ASSOCHAM 2001 Arbitrator – Appointed by Indian Council of Arbitration. Mr. Managing Director & CEO will be so fixed by the Board of Directors from time to time that the Salary. K.Information Memorandum Mr. within the overall ceiling as mentioned above has been fixed as under: - (b) . Accounting Standards. He is on the Board of some reputed listed Companies also. and CEO of Haribhakti Group. He also served as ASSOCHAM Nominee on the J.04. Remuneration : (a) The remuneration of the Jt. Managing Director & CEO.20 - . Currently the remuneration of Jt. retention bonus and such other perquisites and allowances in accordance with the rules of the company or as may be agreed to by the Board of Directors and Mr. Mr. N. Patel shall not exceed a maximum ceiling of 125% of his Basic Salary. Compensation of Managing Directors / Whole time Directors An agreement being executed between JSWHL and Mr. Perquisites and allowances shall not exceed overall ceiling of Rs. Bonus. K. He has been with the Group since 1978. 2001 President – Institute of Internal Auditors Bombay Chapter 1989-90 President – Bombay Management Association 1988-89 Chairman – Western India Regional Council – Institute of Chartered Accountants 1987-88 He has given lectures on various subjects like Corporate Governance. medical reimbursement. He writes prolifically on the web and in various newspapers and magazines. club fees and leave travel concession for himself and his family. furnishings and repairs.R. Patel setting out the detailed terms and conditions of his appointment as Jt. Shailesh Haribhakti Shailesh Haribhakti is a senior Chartered Accountant and Managing Partner of Haribhakti & Co. Performance Incentive. having a presence of more than five decades in the areas of accounting. financial and management services in India. N. Haribhakti has made vast contributions to the corporate world and society through various leadership roles. Further. IT in today’s business scenario and Valuation. house maintenance allowance together with reimbursement of expenses or allowances for utilities such as electricity. Period : Five years from 28. 6 lacs per month. ESOPs & Privately Placed Equity and on the Naresh Chandra Committee on Corporate Governance. 2. He served as the President of Indian Merchants’ Chamber for 2003.2005 to 27. Managing Director & CEO of JSWHL.04 and as Chairman – Corporate Governance Committee of ASSOCHAM in 2001.. Managing Director & CEO is eligible to the following compensation: 1. Verma Committee on Sweat Equity. medical insurance. some of which are given below: • • • • • • • President – Indian Merchants’ Chamber 2003-04 Chairman .04.
Details are as follows: Board of Directors Category Audit Committee --Member of Investors/Shareholders Grievance Committee --- Mr. Superannuation etc. 3.21 - .Information Memorandum Basic Salary : Rs. Superannuation Fund or Annuity Fund to the extent these either singly or put together are not taxable under the Income Tax Act. Subject to revision from 1st April each year and the revision will be decided by the Board taking into account the recommendations of the Remuneration Committee. Sitting Fees Mr. In addition. the Jt. For the purposes of calculating the above ceiling. Sajjan Jindal Mr. Managing Director & CEO Remuneration Committee --- . 1. Car & Telephone Provision for use of the Company’s car for official duties and telephone at residence (including payment for local calls and long distance official calls) shall not be included in the computation of perquisites for the purpose of calculating the said ceiling. Jt. perquisites shall be evaluated as per Income-tax Rules. JSWHL has already appointed independent directors to its Board and has also constituted the Audit Committee. and c) Encashment of leave at the end of the tenure.000/. Managing Director & CEO shall be paid remuneration by way of salary and perquisites as specified above. Shareholders/Investors Grievances Committee and Remuneration Committee as required by Clause 49 of the listing agreement to be entered into with the Stock Exchanges. Managing Director & CEO of the Company shall not be subject to retirement by rotation and shall not be eligible for any sitting fees for attending the Company’s Board or Committee Meetings. K. In the event of loss or inadequacy of profits in any financial year. Patel. b) Gratuity as per rules of the Company (which shall not exceed one half month’s Salary for each completed year of Service). Patel Non-Executive Jt. perquisites and allowances as above shall be paid/provided in accordance with the rules of the Company subject to ceiling of 125% of the Basic Salary.70. Provident Fund.(Rupees One Lakh Seventy Thousand Only) per month. The following perquisites shall not be included in the computation of the ceiling on remuneration specified above: a) Contribution to Provident Fund. 1961. N. if required. subject to the approval of Central Government. wherever applicable. Corporate Governance The provisions of the listing agreement to be entered into with the Stock Exchanges with respect to Corporate Governance will be applicable to JSWHL immediately upon the listing of its Equity Shares on the Stock Exchanges. 4. 5.
Shailesh Haribhakti Non-Executive Independent Independent Independent √ -√ √ √ √ √ -- √ √ √ -- JSWHL undertakes to adopt the Corporate Governance Code as per Clause 49 of the listing agreement to be entered into with the Stock Exchanges prior to listing. Jain Dr.e. April 28.2005 Date of Resignation ------Reasons Appointed as Director Appointed as Jt.Information Memorandum Mr. Patel has been appointed as Jt. Change in Board of Directors of JSWHL since its inception Name Mr. S. Shailesh Haribhakti Date of Appointment Since incorporation 28. who has been appointed as the Jt. Jain Dr. K. K.189 550 4.900 246 --- Mr. N. S. K.01. K. N.04. Other than as stated above and the respective shareholding of the directors mentioned above. Patel Mr. Managing Director & CEO. K. Jt. Mr. Patel Mr.600 984 --No of Shares of JSWHL allotted as per the Scheme 3. N. Gupta Mr. Managing Director & CEO Appointed as Director Appointed as Director Appointed as Additional Director Appointed as Additional Director Management Organization Structure of JSWHL Mr.760 2. .2005 31. Atul Desai Mr. Sajjan Jindal Mr. Patel. Shareholding of Directors Name of Director No of Shares of JISCO as on February 25. N.f.f April 28. Term of Office All the directors are liable to retire by rotation except Mr. K. K. Gupta Mr. K. Sajjan Jindal Mr. N.01. Patel. the directors of JSWHL have no other interest in JSWHL.N. N.22 - . Atul Desai Mr. Gupta Mr. N. 2005 and is responsible for the management of day-to-day affairs of the Company under the over all supervision and control of the Board of Directors. Legal and Administration work of the Company. 2005. Mr. N. K. Mohta is responsible for Management Services Division and reports to Mr. Managing Director & CEO w.200 19. Managing Director & CEO of the Company for a period of 5 (five) years w. Shailesh Haribhakti Interest of the Directors Mr.e. K. the record date) 12.e. Patel. Patel is Jt.2005 Since incorporation Since incorporation 31. Jain Dr. S. Mr. K. 2005 (i. reporting to Mr. Managing Director & CEO. Virendra Samani is appointed as Company Secretary and is looking after the Secretarial. Atul Desai Mr. K. Manoj Kumar Mohta has been appointed as Deputy General Manager.
.. Auditors M/s Shah Gupta & Co. there are Three (3) employees of JSWHL. Chartered Accountants. 2005 (i. K. April 28. Patel has been appointed as Jt.f. Managing Director & CEO of the Company w. except as stated below: Mr.23 - .e. Patel 2200 550 Bonus or Profit Sharing Plan for key managerial personnel There is no bonus or profit sharing plan for key managerial personnel.e. N.Information Memorandum Shareholding of the key managerial personnel There are no key managerial personnel holding shares in JSWHL. 2005. the record date) No of Shares of JSWHL allotted as per the Scheme Mr. N. K. Changes in key managerial personnel since inception There is no change in key managerial personnel since its inception. Mumbai is appointed as the Auditors of JSWHL. except as stated below: Name of Key Managerial Personnel No of Shares of JISCO as on February 25. There has been no change in the Auditors since incorporation. Employees At present.
Ltd. Ratan Jindal. Consequent to the merger of the two companies.P. No. Rakesh Garg. aged 46 years.22 4. vi Nalwa Investments Ltd. A.83 2. 1975. vii Stainless Investments Ltd. iv Everplus Securities & Finance Ltd v Mansarover Investments Ltd. Jindal is the director in Jindal Aluminum Limited and South West Port Limited.53 . 2005 is as follows: Sr. Mr. Mr. Mr.: F 0256563 Mr.248 504.683 78.G.Information Memorandum PROMOTERS/PRMOTER GROUP COMPANIES AND ASSOCIATED COMPANIES Educational Qualification: B. (Mech.861 206. Sajjan Jindal. He was the Chairman and Managing Director of erstwhile JISCO and the Managing Director of JVSL. Deepika Jindal. Mr. Jindal and was incorporated on November 18. 1970 as Jindal Strips Private Limited. He is also the director of Indian Institute of Management.794 62. Mr. of shares % of shareholding 133. He has more than twenty years experience in the industry. Mishra. mainly dealing and investing in securities. Promoter Group Companies and Associate Companies as given below. He is also the Chairman of Jindal Thermal Power Company Limited and Twenty-First Century Printers Limited. Promoter’s holding 1 Promoters: Indian Promoters: i Gagan Trading Co. Jindal is the Vice Chairman and Managing Director of the merged entity. H. Garg and Mr. Mrs.V.158 92.20 1. Shareholding Pattern The shareholding pattern as on March 31.01 1. ii Sun Investments Ltd iii Colorado Trading Co. (A) Promoter Companies (1) Jindal Strips Limited (JSL) The company was promoted by Late Shri O.24 - . R.80 1. The board of directors of the company comprises Mr. the company is now a Non Banking Finance Company. He was instrumental in setting up JVSL. Indore and a member of TTD Development Advisory council and Bombay chapter of the Young President Organization.59 9. The name of the company was changed to Jindal Strips Limited on May 5. Category No.E. Subsequent to restructuring.) Driving License No.738 112. Ltd.395 2. Rajinder Parkash. The group companies have been classified into the Promoter Companies. is Chairman of the Company.: 44304/Hissar Passport No.
12 1.02 0.145 257.229 120.393 141.35 0.46 11.00 43.00 Financial performance The financial performance of the company (Rs.51 5.23 2.565 125. c.45 6.03 0.Government Institutions) FIIs.687 185 2.136. Sub-total (3) Others: Private Corporate Bodies Indian Public i.00 55.268 109.19) (86. Insurance Companies (Central/ State Govt.163 0.38 100.780 186.994 488.48 6.) BV (Rs.24 2001-02 18.13 293.361 1.611 54 2.Equity Reserves and surplus (excluding revaluation reserves) Sales (including Excise duty) Interest and Dividend Income Other Income PAT Dividend (%) EPS (Rs.64 3./Jindal Saw Ltd xiii OCBs xiv Others -Foreign Promoters Persons acting in concert Sub-total (A) Non-Promoters Holding Institutional Investors Mutual Funds and UTI Banks.76 9. Institutions / Non.65 40% 15.35 0.08 5.246.08 23.729 311.61 31.62 1.26 12.59 778 32.06 2. c. 3 a.Information Memorandum 2 B.44 (44.74 44. in crores) is given below: Share capital .07 8.26 81.Ltd x Hexa Securities & Finance Co.99 253. b. Financial Institutions.) 2003-04 5.964 1.56 2.41 1484.437 0.63 2.07 5.05) 495.25 - .Ltd xii Saw Pipes Ltd.00 1.70 60% 5.22 2002-03 5.91 446.611 274.419 2. b. d.751 312. Sunil Kumar Jain ii Chamanlal Desai (HUF) iii Others (Indian Public) NRIs/ NRI Companies I Ricky Ishwardas Kirpalani ii Keswani Haresh iii Others (NRIs /NRI Companies) Any other (Pending allotment) Sub-total (4) Sub-total (B) Grand-total (A+B) 54.205.13 249. Ser. viii Manjula Finances Ltd ix Vrindavan Services P.01 2.199 5.565 30.923 268.000 55.856.279.66 .Ltd xi Jindal Equipment Leas & Con. 4 a.
) 197. 1990 in the State of Maharashtra and thereafter the registered Office of the company was shifted to State of Haryana on November 9.00 218.90 243. Ratan Jindal Mr.08 crores. Prithviraj Jindal Mr.10 216. Rajendar Gupta and Mr.00 196.0001 0. Naveen Jindal Mr.05 222.0001 0. 132.9509 13.10 197.) 210.00 239.00 294.0001 0. in lacs) is given below: No. The average time taken by the company for redressal of complaints varies from 7 to 20 days.00 360.) 208.90 High (Rs.) 197. (2) Jindal Holdings Limited The Company was incorporated on February 6. Mahesh Jain.0000 . Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Mr.30 244.0001 0.00 250.90 242. 2005) on BSE was Rs.30 284.0001 86.25 230.0001 0.15 and the market capitalization was Rs. of Shares 10 10 15 10 10 10 16085755 2414000 18499820 % of shareholding 0.00 The market price of shares of the company (as on March 31.00 252. Madan Lal Gupta.80 330.60 365.00 310. Mr.26 - .0488 100. depending on the type of complaint.00 250. Resolved/Replied: 520 and Pending:20. Om Prakash Jindal Mr.00 245.00 268.00 Low (Rs. It is registered with RBI as Non Banking Finance Company and main business is to deal in securities. Particulars of investor complaints during the period April 2004 to March 2005 are as follows: Complaints Received: 540. 257. 1998.Information Memorandum Stock Market Data Month September 04 October 04 November 04 December 04 January 05 February 05 March 05 NSE High (Rs. The company has engaged the services of a Registrar & Transfer Agent to handle the grievances of the investors.00 BSE Low (Rs. The Board of directors of the company comprises Mr. Sushil Bhuwalka Jindal Strips Ltd Jindal Steel & Power Ltd Total Financial performance The financial performance of the company (Rs.00 282. Sajjan Jindal Mr.50 251.00 292.
420.31 14.450 52.000 640.27 - .750 181.12 83.) FY03-04 1849. Sharma.717.000 2.112.477.44 13. Other individuals/HUFs Total Financial performance The financial performance of the company is given below: Particulars Share capital Reserves and surplus revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs.08) Nil 34.000 551.525 16.28 0. P.82 0.250 17.000 47.927. Heston Securities Ltd. Goel.433.K.67 FY01-02 1849.040. of Shares 1.41 6.44 14.) FY03-04 167.750 181.00 (excluding .954.000 160.44 14.420.025.581.Information Memorandum Particulars Share capital Reserves and surplus (excluding revaluation reserves) Turnover /receipts Profit /(loss) after tax Dividend (%) EPS (Rs. Pental Holding Ltd.250 4.95 7. Jindal Strips Ltd Jindal Equipment Leasing & Cons. The Board of directors of the company comprises Mr.98 5699.70) Nil 32. Investments Beaufield Holdings Ltd Templar Investment Ltd.983. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Mansarover Investments Ltd Ever plus Securities & Finance Ltd Jindal Steel & Power Ltd.44 14.10 (10.) BV (Rs.433.581.08 (3) Stainless Investments Limited This Company was incorporated on September 15.457. 1982 as a Private Limited Company and converted into a public limited company. Mahender Kr.84 3.000 1.60 FY01-02 167.55 No.08 NIL 0.000 1.250 27. Ltd. D.61 12.732.3 FY02-03 167. Mr.37 (298.12 3.06 441.62) 17. The Company was registered with Reserve Bank of India as Non Banking Financial Company (not accepting public deposit) on 12th March 1998.433.74 18.63) Nil 33. The Company is engaged in the business of finance.01 (216. Investment M/s R. P.92) NIL (0. Investment and finance related consultancy services.12 5.581.29 100.72 NIL 0.320.98 5699.175 % of shareholding 6.000 2.242.420.000 2.750 181.05 17.) BV (Rs.13 (77.658.627. Estrella Investment Co.05 FY02-03 1849.21 0.12 24.420.256.98 5699. Services Ltd M/s R.758.000 2. Sunil Mittal and Mr.200 2.
383 (22.54 1.000 218.15 12.68 FY02-03 1.000 13.816. The Company was registered as NBFC with Reserve Bank of India (not accepting public deposit) on September 25.39.538.000 1. Beaufield Holding Ltd.85.00 (excluding (5) Jindal Equipment Leasing and Consultancy Services Limited The Company was incorporated on March 29. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Abhinandan Investments Ltd.39.500 199.78 13. Other individuals/HUFs Total Financial performance The financial performance of the company is given below Particulars Share capital Reserves and surplus revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs.800 % of shareholding 0.000 218. 1998.823. 1981 as a Private Limited Company and subsequently became a public limited company.9 No. Templar Investment Ltd. D.538.697.124. The Company is engaged in the business of finance. Ratan Jindal. Goel.000 1.43 2. Investment and finance related consultancy services. 1986 the name of the company was changed to Jindal Equipment Leasing & Consultancy Services Limited . Heston Securities Ltd. Shallu Jindal.783 2.5 20.000 13.726 21.828.000 15. Manjula Finances Ltd. of Shares 115. Ltd.44 100.000 1.816.816.000 35.816.500 912.517.500 300.000 218. K. S. K. . Ltd. Estrella Investment Co.597.953.61 18. Services Ltd Jindal Strips Ltd. The Board of directors of the company comprises Mr.000 1. Pental Holding Ltd.800 223. Mr.17 FY01-02 1.823.000 340.The Company is registered with RBI to carry on the business of Non Banking Financial Company.01 13.0023 NIL 0.538.823. With effect from August 7.816. 1984 as Jindal Equipment And Finance Limited.442 NIL 1. D.Information Memorandum (4) Mansarover Investments Limited Mansarover Investments Ltd was incorporated on June 8.) FY03-04 1.000 1. Jindal Equipment Leasing & Cons.831) NIL 1. Jindal Holdings Ltd.01 13.000 1.39. Board of directors of the company comprises Mrs. Vrindavan Services Pvt. S.17 7.60 1.038. Saxena and Mr.83 6.01 13.500 10.856. Goel.22 19. Ashok Goel and Mr. Mr.28 - .01 2. Stainless Investments Ltd.) BV (Rs.01 13.
Mansarover Investments Ltd.003.26 40. Jindal Strips Ltd. Stainless Investments Ltd. Aras Overseas P.792 48.000 500.750.000 65.80 6.700 % of shareholding 3.000 302. Shareholding Pattern The shareholding pattern is as follows: .21 19. Mr.000 100.07 1. Saxena and Mr.531. P.732.127.77 77.193.39) 33.74 14. Ltd.327 NIL 6.300 1.Ltd.) FY03-04 FY02-03 FY01-02 No.900 7.000 521. 1981 and is engaged in the business of finance. Gagan Trading Co Ltd.49 5.815.000 302.29 1. Renuka Financial Services Ltd Jindal Holdings Ltd.47 1. S.000 302. Ltd. 100/-each Reserves and surplus (excluding revaluation reserves) Sales PAT Dividend (%) EPS (Rs. S.95 3. Other individuals/HUFs Total Financial performance The financial performance of the company is given below Particulars Share capital (Issued.000 10% Cumulative Redeemable Preference Shares of Rs.20.327. The Board of directors of the company comprises Mr.327.000 100.000.000 419.30.29 17. Musuko Trading P.000 1. of Shares 248.570 NIL 1.465.51 77.750.000 13. Jindal. Subscribed & paid-up) 7.732.531.69 6. Investment and finance related consultancy services. Subhash Chandra Sharma. Vrindavan Services Pvt.000 23.600 (10.000 1.000 40.00 77.000.000 23.500 285. 1998 the Company got registered with Reserve Bank of India as Non Banking Financial Company (not accepting public deposit).394.630.476 11. On March 21. Sun Investments Pvt. 10/-each 2.Information Memorandum Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Abhinandan Investments Ltd.000 115.45 34. R.700 Equity Shares of Rs.06 (6) Nalwa Investments Limited The Company was incorporated on February 6.000 23.43 100.000.568.29 - .57 18.) BV (Rs. Ltd.000 19.750.327.) NIL (1.
Deepika Jindal.000.713.00 FY03-04 FY02-03 FY01-02 4.35) NIL (5.701.457. of Shares 1.500.700 100 10.000 Nil 12.221.31 7.59) (189) 4. On March 19.572.000 10% Cumulative Redeemable Preference Shares of Rs.K. There has been no trading in shares in preceding six months (7) Abhinandan Investments Limited The Company was incorporated on April 6. Parmod Garg.13 (136. 1998.P.038. 10/-each 1.10 5.26 5.13 7. 100/-each Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs.99 100.101 (2. The Board of directors of the company comprises Mrs.19 24.150 23.05 5.30 No.850 197950 450.000 Equity Shares of Rs.650 % of shareholding 0.400.Jindal & Sons HUF P.650 23.000 19. Investment and finance related consultancy services.Jindal & Sons HUF .350 112.) BV (Rs.33 . of Shares 200 10.356.K.000 140.Jindal R. 1983 and is engaged in the business of finance.000 Nil 39.517. Mr.74 43.R. & Finance Ltd.14 5.50.Information Memorandum Name of the Shareholder Abhinandan Investments Ltd.550 5.) No. the Company got registered with Reserve Bank of India as Non Banking Financial Company (not accepting public deposit).35 0.500.000 % of shareholding 0.000 Nil 36.8) 4.K.500.000 140.000.400 32.59) Nil (18.100 34. Subscribed & Paid-up) 4.753.Jindal HUF Naveen Jindal & Sons HUF Others/individuals/HUFs Total Financial performance The financial performance of the company is given below Particulars Share capital (Issued. O. Everplus Sec.000 140.26) (183. Sun Investments Ltd.34 NIL 52.705 23.000.5) This company is listed on Delhi Stock Exchange Associations Limited.222 (8. Sunil Mittal and Mr.Jindal & Sons HUF S. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Arti Jindal Naveen Jindal Sajjan Jindal S.34 1.89 4.
Satya Prasad and Mr.Jindal .25 0. S. 10/-each 8. The name of the company was changed to Jindal Saw Ltd.33 11. Savitri Devi Jindal (Chairperson) Mr.31 - .HUF Ever plus Securities & Finance Ltd Sun Investments Pvt. H.43) (291.000 10% Cumulative Redeemable Preference Shares of Rs.741 (3.50 4.f.A. Moosa Raza. Mr.83 5. A. The company is an established player in the country for manufacturing and coating large diameter Submerged Arc Welded (SAW) line pipes. Swastik Foils was amalgamated into the company in 1988-89. Mr.000.00. Mr. Ltd Stainless Investments ltd Mansarover Investments ltd Nalwa Investments ltd Jindal Strips Ltd Others Total 10.03 100.086.000 Nil 13. January 11.409.000.000 81.502.R.060. a subsidiary of Jindal Strips.000.650 23. V. Purshottam Lal.00 4. Financial performance The financial performance of the company is given below Particulars Share capital (Issued.000 8.37 NIL 91. 1983 on Delhi Stock Exchange Associations Limited.000 92. Shareholding Pattern .00 0.43) Nil (37. As part of backward integration.00 Shares of the Company were listed on November 28.000 5.000 81. R.850 10.e. w.000 81.3) 2. Jindal. Sminu Jindal.000. There has been no trading in shares in preceding six months. Mr. Mr.000 8. P.) (Equity Shares only) FY03-04 FY02-03 FY01-02 2. The company is a global player in the field of energy transportation with state-of-the-art facilities in four locations in India and is also involved in the manufacture of pipes including seamless pipes and coating thereof. Ms.9) 2. Mr.33 6.000 Equity Shares of Rs.000. The board of directors of the company comprises Smt.J. 1984 as Saw Pipes Ltd.255.986.907.) BV (Rs. 2005.000 Nil 23. Chaudhary.945.00 46.28 (199. Subscribed & Paid-up) 2.000.10.70) NIL (15.000 500 1.650 10. Swastik Udyog. Devi Dayal. M. Kuldip Bhargava. which produces thicker gauge steel strips. was merged with the company in 1991-92.812 18.51) (276) (8) Jindal Saw Limited The company was incorporated on October 31.132. Tauro. 100/-each Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs.127 (7.93 5.Information Memorandum Savitri Devi Jindal Deepika Jindal P.650 13.050 200.000 Nil 20.
00 191. 2005 is as follows: Category Promoters Holding Promoters: .98 290.00 182.631. .00 305.Indian Promoters . Foreign Institutional Investors Sub .) 188.00 2003-04 38. b.00 192.) 183.40 Low (Rs.659.50 250. Institutions/NonGovt. a.24 25% 14.) 200.35 The market price of shares of the company (as on April 5. 1120.) Stock Market Data Month October 04 November 04 December 04 January 05 February 05 March 05 NSE High (Rs. a.Information Memorandum The shareholding pattern as on March 31. The company has engaged the services of a Registrar & Transfer Agent to handle the grievances of the investors.35 242.) BV (Rs.658 -2. 4.58 2002-03 38.55 9.30 235.702. 287.34 804.558 3.755. of shares % of shareholding A.355 97. Non Promoters’ Holding Institutional Investors Mutual Funds and UTI Banks.56 1123.264 4.48 225.419 1763356 4864705 6262320 -12. in crores) is given below: Equity Share capital Reserves and surplus (excluding revaluation Reserves) Sales (including Excise duty) PAT Dividend (%) EPS (Rs.100 -21.05 180.457. 2005) on BSE was Rs.979.32 - .13 42.90 2001-02 46.05 285.41 91. b.95 236.98 335. 2004 to March.60 242.43 102. depending on the type of complaint. Institution. Nil complaints were received and pending from Equity shareholders during the period December. The average time taken by the company for redressal of complaints is up to 15 days.Total Grand Total No.68 754. 2005.50 235.00 236.800 45.80 242.30 56.50 304.50 and the market capitalization was Rs.34 15% 10.50 -55. 3.90 287.Foreign Promoters Persons acting in concert Sub . 1.05 215.25 212.32 76.90 High (Rs.05 -7.00 BSE Low (Rs.Total Others Private Corporate Bodies Indian Public NRIs / QCBs Any other (please specify) Sub .Total B. Financial Institutions.458 4.26 11.88 4. 17. 1.25 c. Insurance Companies (Central/State Govt.874.65 crores.96 76. d.37 0.07 100.00 Financial performance The financial performance of the company (Rs. 2.52 -33.381 38. c.30 244.08 25% 19.890.60 249.) 205.
04% - A.) BV (Rs.00 Nil 30. Foreign Institutional Investors Sub . Swami and Mr.00% Shares of the Company listed in April.41) Nil (0. Institutions/Non.Total Others Private Corporate Bodies Indian Public NRIs / QCBs Any other (please specify) Sub .37 (10) Gagan Trading Company Limited .59) 10. Financial Institutions. Jain. Gupta.75% 99. 3. R.37 FY-02-03 224 0.37 FY-01-02 224 0.04% 0. NON PROMOTER’S HOLDING Institutional Investors Mutual Funds and UTI Banks.89 Nil 74. M.Information Memorandum (9) Colorado Trading Company Limited This Company was incorporated on January 17. 4. 2.89 Nil (1.33 - . The Company has not issued any rights or a public shares in last five years. in lacs) is given below: Particulars Share capital (including preference share capital) Reserves and surplus (excluding revaluation reserves) Sales PAT Dividend (%) EPS (Rs. d. R. Financial performance The financial performance of the company (Rs. Mr.96% 100.84 10.82) 10. 41300 198600 239900 240000 17. 1. R. c. Insurance Companies (Central/State Govt.Total GRAND TOTAL No. of shares 100 100 % of shareholding 0. P. c. a.Total B.21% 82. b. b. a.) FY-03-04 224 0.56) Nil (84.Govt.89 Nil (203. Institution. L. The Board of directors of the company comprises Mr. 1983 and is in the business of investment and trading in shares. Shareholding Pattern The shareholding pattern is as follows: CATEGORY PROMOTERS HOLDING Directors Persons acting in concert Sub . 1983 on Calcutta Stock Exchange Association Limited and no trading has taken placed during last 6 months.
49. Mr. 1982 as a Private Limited Company and converted into a public limited company “Vrindavan Services Ltd. Ltd.40) No.45 100. It is into the business of investments.71 13.09 (2168.91) FY 03 1715.877. The company was reconverted into a private limited company on April 5.Information Memorandum The Company was incorporated on January 31. The Company has not come out with any Rights or Public issue in the last five years.000 2. Board of directors of the company comprises Mr. trading in securities and providing management consultancy services.250 2.R. Kole and Mr.65) (8. The company is carrying on the business of investments.83 11.30.N.83 11.38) (9.65) 471. Gagan Trading Co. K.83 11.000 20. Heston Securities Ltd.000 20.06 6.) BV (Rs.900 % of shareholding 21.000 3.30.90 (3344.06 7.59.53 6.100 2. of Shares 7. The shares of the Company are listed on the Calcutta & Uttar Pradesh Stock Exchanges.90) 533.000 1. R. No.60. Heston Securities Ltd.34 - .68 7. 2002.000.83 1. Rajeev Pai. Templar Investments Ltd.R. Nacho Investments Ltd. Jayaraman. Others Total Financial performance The financial performance of the company (Rs. P. Ltd. Sarmento Holdings Ltd.90 (3150. Beaufield Holdings Ltd. Pentel Holdings Ltd.000 % of shareholding 39. Mendeza Holding Ltd.000 20.68) 54.” with effect from March 29.30. (11) Vrindavan Services Private Limited (VSPL) Vrindavan Services Private Limited was incorporated on April 8. Beaufield Holdings Ltd. Sriram.000 5.564.880.450 2.000 20.) FY 04 1715. 1997. Mr. Mr.71. P. trading in securities and providing management consultancy services.52) FY 02 1715.600 2. 1983 as a public limited company.564.000 20.30. Ltd. Shareholders Sun Investments Pvt.25 . Estrella Investments Ltd.90 (3241. Bavneesh Gulati.269.42) (12.79 102. in lacs) is given below: Particulars Equity Share Capital Reserve and Surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.99 (193. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Sun Investments Pvt.77 10.00 * EPS has been arrived at after considering Dividend on Redeemable Cumulative Preference Shares.83 11.369. Board of directors of the company comprises Mr. of shares 67.75 *(0.97) *(2.30. Bavneesh Gulati.S.64) (8.40 11. Kole and Mr.
402 6.700 4.207. 1981 as a private limited company and converted into a public limited company “Sun Investments Ltd. D.86 FY 02 1644. Mr.71 6. Ashok Goel.760.96 1.400 1. Its board of directors comprises Mrs.00 219.300 5. Ltd.900 3.000 710. Musuko Trading Pvt.800 3. Ltd. Ltd.119. Jindal Holdings Ltd.01 58.94 0.) BV (Rs.25 6.000 340. trading in securities and providing management consultancy services.) (12) Sun Investments Private Limited FY 04 3629. 2003.40 249.24 2061. Jindal Coated Steel Pvt.299.000 340. Jargo Investments Ltd.001 401 36.18 0.89 5.052.119. P.39 0.40 355. Mr. 1990.94 2681.000 340.00 100. V.000 625. Ltd. Estrela Investment Co. No. of Shares 29.500 64.800 2.98 0. Naman Enterprises Pvt. The company is in the business of investing.66 5.94 0.00 0.13 50. Ltd.” with effect from October 15. Sangita Jindal (Managing Director).72 0. Garg. Vavasa Investments Ltd.73 5. Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Jindal South West Holdings Limited Jargo Investments Ltd.51 (31. Ltd.94 0. in lacs) is given below: Particulars Equity Share Capital Share Application Money Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.513.18 0.269.00 The financial performance of the company (Rs.269.000 2. Pentel Holdings Ltd.94 0.000 65. Ltd.32 141.74) 11.09) 15.000 140.35 - .000 340.27 4. Baltimore Trading Pvt. Kamshet Investments Pvt. Deepak Bhat and Mr.33 Sun Investments Private Limited was incorporated on June 2. Jindal Coated Steel Pvt.80) (0.400 % of shareholding 40.989.17) (0. Wachovia Investments Pvt.55 7. Jindal Total Financial performance 2.19 4.Information Memorandum Templar Investments Ltd.69 17.269.100 4.711. Aras Overseas Pvt.25 6. Ltd. Mr.39 FY 03 3518. Nacho Investments Ltd. Pentel Holdings Ltd. Ltd Mendeza Holding Ltd. Estrela Investment Co.300 11.18 . Sarmento Holdings Ltd. The company was reconverted into a private limited Company on February 18. Ltd. J.50 (121.25 1.300 2.
P.02 0. Everplus Securities Pvt. Templar Investments Ltd.28 12649.01 0.500 17. P.28 2.22 0.000 100 71.01 0.02 0. Tripti Jindal Ms.900 60.800 3.033.84 0.06 0.999 300.300 10. Ms.300 30. Mr. Deepika Jindal Colorado Trading Co.50 . Urvi Jindal Ms. it is in the business of Investments and trading in securities.04 37. Shareholding Pattern The shareholding pattern is as follows: Shareholder Gagan Trading Company Ltd.00 The financial performance of the company (Rs.05 0. 1993 as a private limited company. Vavasa Investments Ltd. The Company’s Board of Directors comprises of Mr.000 8.76 4051. Puran Chand Sharma Total Financial performance 2.07 0.36 - .01 0.600 2. Naveen K.07 Incorporated on August 11. Sminu Jindal Vrindavan Services Pvt.46 12.500 10.84 2.201. Ratan K . Ltd. Heston Securities Ltd.000 6.000 5.20 161.01 0. Jindal Mr.800 6.) (13) Meredith Traders Private Limited FY 04 7149.700 23.02 0.347.000 51.61 (28.55 FY 02 5827. P . Ltd. No.27 11796. Ltd.02 0. Jindal (HUF) Mr.400 13. Sangita Jindal Mr.100 39.03 0.000 239.R.04) 26.000 14.59 1.200 2.68 FY 03 7119. Mr.28 28. Ltd.492. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation Reserve) Income PAT Dividend EPS (Rs.01 0.03 27. Om Prakash Jindal Ms.033.001 898. Abhuday Jindal Ms.Information Memorandum Beaufield Holdings Ltd.500 13. Jindal Ms. Vrindavan Services Pvt. Tanvi Jindal Jindal Strips Ltd.13 1828. Mr.30 10532. of Shares 1.04 0. Kole and Mr.000 46.Jindal O.75 4395.) BV (Rs.000 % of shareholding 50.00 100.01 0. Deepak Bhat.08 0.100 10. R. Tarini Jindal Ms.58) (0.01 0. Savitri Devi Jindal Ms.89 733.34 0.
Silky Investments Pvt.59 75. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs. Total Financial performance 1 1 2.400.Information Memorandum Gauri Investments Pvt. Sangeeta S.62) (3. Prithvi Raj Jindal. .00 (4562. Damani Mr.01 12.40) 115.39) 14.11) 3030.45) 16.002 (725. It carries activities of investments and dealing in shares and securities.31) 2001-02 2400.60 (330.89) (14) Reynold Traders Private Limited The Company was incorporated on September 1.00 50.00 (4574.00 (15) Templar Investments Limited Templar Investments Limited was incorporated on June 30. It carries out activities of holding and letting out of property.12 (76.52 (90.00 (1889. Board of directors comprises Mr. 1993. Pradip Gaad. Jayaraman and Mr. 100 each) Reserve and surplus Excluding revaluation reserve Income PAT Dividend EPS Rs BV Rs 2003-04 2400.08) 19. investments in capital markets and providing consultancy services.002 (670.61) (16530489) (35772825) No.82 1801.07 21.86 54. Kole. Ltd. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.13 2002-03 2400.00 100.62) (481073) (36253673) FY 02 0.00 0. Sunil Damani Total Financial Performance The financial performance of the company (Rs.99) 8. Mr. Shareholding Pattern The shareholding pattern is as follows: Shareholder Mrs.60 0.37 - . of Shares 1 1 2 % of shareholding 50.19) (90. Mr.002 (715. 1997.58 2729130 (33524543) FY 03 0.00 100. Dev Joory.100 each) Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.) FY 04 0. The company’s board of directors comprises Mr. P.) BV (Rs. R.00 The financial performance of the company (Rs. R.53 (9. Couldip Basanta Lala and Mr.002 0. Ltd.
01 7000 7240903 3016130 2672687 -382 1035 No.02 7000 10831910 3784920 3591007 -513 1548 31.02 5000 10878633 3784318 3631866 -726 2177 31. Pradip Gaad.01 5000 7296767 3015505 2670935 -534 1450 No.00 .800 200 7.000 % of shareholding 71.12. Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Prithvi Raj Jindal Pradip Gaad International Trustees Limited Total Financial Performance The financial performance of the company (in US Dollars) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS BV 31.03 7000 11396160 575602 564250 -81 1629 31. 1997.000 % of shareholding 70.12.38 - . Couldip Basanta Lala and Mr.12.03 5000 11439760 572657 561127 -112 2289 31. of Ordinary Shares 5.500 1.00 100.00 100. Board of directors comprises Mr.12. Mr. Dev Joory. Mr.00 (16) Heston Securities Limited Heston Securities Limited was incorporated on June 30.Information Memorandum Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Prithvi Raj Jindal Pradip Gaad International Trustees Limited Total Financial Performance The financial performance of the company (in US Dollars) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS BV 31. Prithvi Raj Jindal.12.12.00 26.00 28.400 100 5.000 1. It carries activities of investments and dealing in shares and securities. of Ordinary Shares 3.00 3.00 2.
12. Mr. Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Prithvi Raj Jindal Other – Nominee Total Financial Performance The financial performance of the company (in US Dollars) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income 31.90 0. Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Prithvi Raj Jindal Pradip Gaad Other – Nominee Total Financial Performance The financial performance of the company (in US Dollars) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT/(Loss) Dividend EPS BV 31.01 1942 (384863) 153638 45256 -45 -No.12. Prithvi Raj Jindal. It carries on activities of investments and dealing in shares and securities. Board of directors comprises Mr. Pradip Gaad. Andry Tryphonos and Mr.03 1942 (3136527) 137015 31. Tasoula Georgiou.12. 1997. Andry Tryphonos and Mr. of Ordinary Shares 650 340 10 1.02 1942 (3266074) 63406 31.00 1. Prithvi Raj Jindal.00 34. Mr.000 % of shareholding 65. Board of directors comprises Mr.39 - .00 100.000 % of shareholding 99. of Ordinary Shares 999 1 1. Tasoula Georgiou. Mr. Pradip Gaad.02 1942 (533740) 63350 (148877) --31.01 1942 (3063112) 39504 No.10 100. 1996.12.12.00 (18) Jargo Investments Limited Jargo Investments Limited was incorporated on July 29.Information Memorandum (17) Vavasa Investments Limited Vavasa Investments Limited was incorporated on June 18. Mr. It carries on activities of investments and dealing in shares and securities.12.03 1942 (424514) 116024 109264 -109 -31.00 .
00 44.12.03 1942 (424786) 133418 126504 -126 -31. It carries activities of investments and dealing in shares and securities.00 38.000 % of shareholding 55. Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Prithvi Raj Jindal Pradip Gaad Other – Nominee Total Financial Performance The financial performance of the company (in US Dollars) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT/(Loss) Dividend EPS BV (20) Beaufield Holdings Limited 31.12. Mr. Andry Tryphonos and Mr.50 100.12. 1997. Pradip Gaad. Mr.000 1. Couldip Basanta Lala and Mr. Prithvi Raj Jindal.000 % of shareholding 60.50 0.00 Beaufield Holdings Limited was incorporated on June 30. Dev Joory. 1997. Pradip Gaad. Mr. The company’s board of directors comprises Mr.900 100 5. of Ordinary Shares 550 445 5 1. It carries on activities of investments and dealing in shares and securities. Mr. Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Prithvi Raj Jindal Pradip Gaad International Trustees Limited Total Financial Performance The financial performance of the company (in US Dollars) is given below: No.00 .02 1942 (551289) 61227 (116050) ---31.40 - . of Ordinary Shares 3. Board of directors comprises Mr.01 1942 (435239) 172323 (10648) ---No.00 2.Information Memorandum PAT/(Loss) Dividend EPS BV 129548 -130 -- (202962) ---- (497541) ---- (19) Sarmento Holdings Limited Sarmento Holdings Limited was incorporated on June 18.00 100. Tasoula Georgiou. Prithvi Raj Jindal.
Pradip Gaad and Mr. Tasoula Georgiou. Mr.Information Memorandum Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS BV (21) Pentel Holding Limited 31.12.12. Board of directors comprises Mr.00 2. Prithvi Raj Jindal. 1997.03 5000 11464486 685951 673039 -135 2294 31.00 .00 100. of Ordinary Shares 4. Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Prithvi Raj Jindal Pradip Gaad International Trustees Limited Total Financial Performance The financial performance of the company (in US Dollars) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS BV (22) Mendeza Holdings Limited 31.12. Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Prithvi Raj Jindal Pradip Gaad Other – Nominee Total No.12. Mr.02 6000 10751260 3783357 3590681 -598 1793 31.01 6000 7160578 3014513 2569236 -428 1194 No.12. It carries activities of investments and dealing in shares and securities. Andry Tryphonos.400 100 6.03 6000 11309499 569872 558239 -93 1886 31. Pradip Gaad. 1997. Mr.00 33.500 1.000 % of shareholding 75.12.02 5000 10791447 3786975 3622069 -724 2159 31. It carries on activities of investments and dealing in shares and securities.41 - . of Ordinary Shares 660 330 10 1.00 1.00 100. Board of directors comprises Mr. Mr. Prithvi Raj Jindal. Dev Joory.01 5000 7169378 2997354 2615193 -523 1435 Pentel Holding Limited was incorporated on June 30. Couldip Basanta Lala and Mr.000 % of shareholding 66.00 23.00 Mendeza Holdings Limited was incorporated on June 18.
12. Prithvi Raj Jindal.01 6000 7163300 3002215 2547719 -425 1195 No.00 (24) Nacho Investments Limited Nacho Investments Limited was incorporated on April 18.12.42 - . Tasoula Georgiou. Mr. Mr.000 1. It carries activities of investments and dealing in shares and securities. of Ordinary Shares 4.01 1942 (543834) 184478 (13371) ---- (23) Estrela Investment Company Limited Estrela Investment Company Limited was incorporated on June 30. Shareholding Pattern The shareholding pattern is as follows: .03 1942 (537985) 144577 132778 -133 -31. Andry Tryphonos.880 120 6. Pradip Gaad. Mr.12. Couldip Basanta Lala and Mr.12.12. Pradip Gaad and Mr. It carries on activities of investments and dealing in shares and securities. 1997.02 1942 (670762) 63359 (126928) ---31.000 % of shareholding 67.12.03 6000 11381086 600079 586976 -97 1898 31.00 31. Dev Joory. Prithvi Raj Jindal.00 100. Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Prithvi Raj Jindal Pradip Gaad International Trustees Limited Total Financial Performance The financial performance of the company (in US Dollars) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS BV 31.02 6000 10794110 3795749 3630810 -605 1800 31. Board of directors comprises Mr. Mr. 1997.Information Memorandum Financial Performance The financial performance of the company (in US Dollars) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT/(Loss) Dividend EPS BV 31. The company’s board of directors comprises Mr.00 2.
12. on June 12. Mr..00 1. Ratan Jindal. Vikrant Gujral.43 - . Raigarh and Raipur divisions of Jindal Strips Ltd.01 1942 (472926) 163626 (17783) ---- (B) (1) Promoter Group Companies Jindal Steel & Power Limited (JSPL) The company was incorporated on September 28. A 1 Category Promoter's Holding Promoters .12.03.’ on May 27. which is engaged in production of Sponge Iron.000 % of shareholding 55. Subsequently. Gupta. Mr. 1998. Mr. Pursuant to a Scheme of Arrangement between Jindal Strips Limited and the company as sanctioned by the Honorable High Court of Punjab & Haryana under Section 391 to 394 of the Act. The company’s unit at Raipur is engaged in machining. of Ordinary Shares 550 440 10 1. 1979 as Orbit Strips Pvt. Anand Goel.12. the name of the company was changed to Jindal Steel & Power Ltd. Harsh Vardhan Lodha.02 1942 (577071) 63395 (104145) ---31. Mr.Nominee Total Financial Performance No. 1998. parallel flanges and billets.03 1942 (446781) 136498 130292 -130 -31.79 . 1998. Rajendra Singh. Sushil K.Indian Promoters i) Corporate Bodies + Resident Indian No. M. Mr. Ferro Chrome and Steel Products like slabs. The company has captive iron ore and coal mines at Tensa in Orissa and Mand area in Raigarh in Chattisgarh respectively.00 44. Shareholding Pattern The shareholding pattern as on 31. It is also engaged in generation of power. No. which was converted into a public limited company ‘Orbit Strips Ltd. Maroo and Mr. were transferred to and vested in the company from April 2. The company has a unit in Raigarh. blooms. Mr. The board of directors of the company comprises Mr. Subir Bisht.00 The financial performance of the company (in US Dollars) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS BV 31. Singh Pasrich. Ltd. Amir Z.00 100. of Shares % of Shareholding 16256093 52. Mr. L. Mr.2005 is as follows: Sr. Naveen Jindal.Information Memorandum Name of Shareholder Prithvi Raj Jindal Pradip Gaad Other .
90 1030. Insurance Companies (Central / State Govt Institutions/ Non-Government Institutions) FIIs Sub-Total Others Private Corporate Bodies Indian Public NRIs/OCBs Any other Sub-Total GRAND TOTAL 2420800 NIL NIL 18676893 7. Financial Institutions.77 1. 2005) on BSE was Rs.) BV (Rs.00 Financial performance The financial performance of the company (Rs.86 60.00 920. 3215 crores.) 663.00 1026.79 145.00 2003-04 15.00 2001-02 12.40 and the market capitalization was Rs.16 4.00 The market price of shares of the company (as on March 31.) Stock Market Data Month October 04 November 04 December 04 January 05 February.08 125% 52. 05 March.18 100.Foreign Promoters Person acting in concern Sub-Total Non-Promoters Holding Institutional Investors Mutual Funds and UTI Banks.00 1104.18 1.) 796.) 795. 1044. . in crores) is given below: Particulars Equity Share capital Reserves and surplus (excluding revaluation reserves) Sales (including Excise duty) PAT Dividend (%) EPS (Rs.66 0.00 1000.80 1561.00 833.55 70% 38.44 - .00 851.00 860.) 623.63 558.49 305. 05 NSE High (Rs.109.22 107.00 1262.33 654.00 180.00 Low (Rs.05 915.00 1103.90 452.46 200% 100.00 692.00 195.43 c 4 a b c d 3795642 5592768 1420514 4546914 510135 45044 6522607 30792268 12.40 839.00 1259.15 21.22 277 2002-03 14.00 628.33 18.00 Low (Rs.50 821.41 0.95 834.61 14.35 824.Information Memorandum 2 B 3 a b ii) OCBs+Non Resident Indian .00 964.00 BSE High (Rs.00 1000.35 964.65 1664578 132548 5.
the stainless steel undertaking from Jindal Strips Ltd with all the property. 2. Under the scheme of Arrangement and Demerger among Jindal Strips Limited and Jindal Stainless Limited.410. powers and liabilities in respect to stainless steel undertaking stood transferred to and vested in Jindal Stainless Limited w. 2005 is as follows: Sr. plates and sheets.945 viii Manjula Finances Ltd 1.295 iii Sun Investments Ltd 9. The average time taken by the company for redressal of complaints is up to 21 days. blooms.157. Ltd. Ltd 5.Information Memorandum The investor grievances received by the company are handled through secretarial office of the company and through the Registrar & Transfer Agent engaged by the company. 2003. 1980 as Jindal Ceramics Limited.55 1.555 xii Saw Pipes Ltd.e.315.110 vii Stainless Investments Ltd. R.45 1.46 1.Ltd 4. The company was originally incorporated on September 29. hot rolled and cold rolled coils.89 2. Mr. Shareholding Pattern The shareholding pattern as on March 31. 2002 (the appointed date).454. asset. Category No.797. flat bars.K. Mr. of shares held No. C.800 xi Jindal Equipment Leas & Con.210 vi Nalwa Investments Ltd.50 2.92 4. April 1. Resolved/Replied: 50 and pending: 1 (2) Jindal Stainless Limited The company was promoted by Mr. The company has integrated melting Hot Rolling and Cold Rolling facilities and manufactures and sells a broad range of stainless steel flat products including slabs. Particulars of investor complaints during the period January to March 2005 are as follows: Opening balance: 1. N.078. Ltd. Savitri Devi Jindal (Chairperson) Mr. Mr. Mathur. 3.31 0.com Limited on January 25. 2.946. Ratan Jindal. vide Punjab & Haryana High Court order dated May 31.707.38 8.19 4. Mr./Jindal Saw Ltd. Suman Jyoti Khaitan.f. A.22 2. Ltd 2. Rajinder Parkash.012.080 ix Vrindavan Services P. The name of the company was changed to Jindal Int.735. The board of directors of the company comprises Smt.835 v Mansarover Investments Ltd.296.845 ii Gagan Trading Co.375 xiii OCBs 8. Dr. Promoter’s holding 1 Promoters: Indian Promoters: I Colorado Trading Co.11 5.05 3. 1.780 iv Everplus Securities & Finance Ltd 1. rights.443.705 x Hexa Securities & Finance Co. 1.92 .615.G.45 - . Ser. Naveen Jindal. 2001 and further to Jindal Stainless Limited on January 27.710 xiv Others 5. 2.999. Singhal. depending on the type of complaint.23 8. Garg and Mr. Complaints Received: 50. Ratan Jindal. 2003. L.290 % of shareholding 1.
38 2.500 7.498 520.220.41 51.0007 (0.48 7.891 56.269 4.844 2. ii Others Any other (pending allotment) Sub-total (4) Sub-total (B) Grand-total (A+B) 3.204.93 90.55 2. b. in crores) is given below: Particulars Equity Share capital Reserves and surplus (excluding revaluation reserves) Sales (including Excise duty) PAT Dividend (%) EPS (Rs.0001) - .46 - .00 d.08 55.57 2002-03 13.) Stock Market Data Month October 04 NSE High (Rs.499 109. Financial performance The financial performance of the company (Rs.30 BSE Low (Rs.423 1.93 0.656 9. b.00 High (Rs.) 93.13 2001-02 0.) BV (Rs. Insurance Companies (Central/ State Govt.Information Memorandum 2 B.19 4.608 2.80 1989.932.524 1.54 c.01 48. Others (FIIs) 5.909.883.20 269.30 58.345 0. Indiabulls Financial Services Ltd Ii Others (Companies) Indian Public NRIs/ NRI Companies/OCBs i.977.223. Institutions / Non.727.83 391.20 2003-04 19.02 0.58 164.272 22. Latin American Investment Bank Bahamas Ltd.697.15 60% 9.) 94. ii FID Fund Mauritius Ltd.) 77.810 52. Financial Institutions. American Express Bank Ltd ii Life Insurance Corporation of India iii Others FIIs.80 100.189.760 2. i. -Foreign Promoters Persons acting in concert Sub-total (A) Non-Promoters Holding Institutional Investors Mutual Funds and UTI Banks. Sub-total (3) Others: Private Corporate Bodies i. 3 a.17 20. c.24 9.Government Institutions) i.998.437 16.50 Low (Rs.10 1.022.10 1.00 36.47 15.115 975 40.19 100% 17.070 0.98 530.909.) 76. 4 a.997.24 2605.
U.F Master Parth Jindal R.318.318.000 1.60 6.75 90.675. Jindal & Sons H. (3) Manjula Finances Limited The Company was incorporated as Private Limited on February 1. Board of Directors includes Mr.000 22. Investment and finance related consultancy services.F Manju Bansal Tanu Bansal Stainless Investments Limited Mansarover Investments Limited Goswami Credits & Investment Limited Ever Plus Securities & Finance Limited Renuka Financial Services Limited Abhinandan Investments Ltd. Wachovia Investment P.98.50 91. The Company is engaged in the business of finance.000 1. Aras Overseas P.90 111.400.04 0. The company has engaged the services of a Registrar & Transfer Agent to handle the grievances of the investors. Ashok Goel. 1995 and became Public Company with effect from March 31.520.00 78.00 The market price of shares of the company (as on March 31.40 96. Resolved/Replied: 478 and Pending: 12. 2005) on BSE was Rs.000 1.U. Sunil Mittal. 1997. P.P.25 and the market capitalization was Rs.10 81.000 1. Ltd. Ltd. Ltd. Kamshet Investment P. depending on the type of complaint.000 3.000 10.000 10 10 2.010.318.00 . Ltd. Brahmputra Cap & Fin Ltd.170. Jindal H.015.40 96.R.04 0.000 2. 1079.90 78.Information Memorandum November 04 December 04 January 05 February 05 March 05 89.21 7.11 5. Jindal & Sons H.32 2.00 11.04 0.F P.000 1. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Naveen Jindal H. Ltd.81 5.000 10. Total Financial performance No.81 5.65 5. Manjula Finances Ltd.660. Jindal Holdings Ltd.F O.70 91.15 87.17 11.86 crores.318.47 - .81 100.000 10. Mr.U.000 1. Baltimore Trading P. Ltd.86 2.20 88.70 80. Vrindavan Services Pvt.000 10. of Shares 10. D. Musuko Trading P.U.16 13.000 1. Gagan Trading Co Ltd.81 5.318.04 0. The average time taken by the company for redressal of complaints varies from 7 to 25 days.570.000 590.30 8.000 600.04 0.020 % of shareholding 0.55 110.000 2. Sharma and Mr.95 106.75 91.05 80. is NBFC (not accepting public deposit).00 80. Particulars of investor complaints during the period April 2004 to March 2005 are as follows: Complaints Received: 490.95 106.33 2.00 0.81 5.K.00 87.000 1.000 500.
25 2.4 8. Sharma.000 486.670.) BV (Rs.750.25 2. of Shares 10.355.533.000 486. Musuko Trading P.55) NIL (0. Wachovia Investment P.000 1.02 7.95 2.P. 1995 and became Public Limited with effect from March 31.000 10.05 0.750.858. Ltd.500.00 0. Kamshet Investment P.48 - . Jindal O.200 NIL 6.75.55) 2.000 10. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder P.509. Total No. Mr.F Master Parth Jindal Deepika Jindal Anita Gautam Renu Vashisth Stainless Investments Ltd Mansarover Investments Ltd Goswami Credits & Investment Ltd Ever Plus Securities & Finance Ltd Manjula Finances Ltd Brahmputra Cap & Fin Ltd.970. The Company is NBFC (not accepting public deposit) and engaged in the business of finance.000 486.200 NIL 40.000 1.620. Vivek Goel and Mr.000 10 10 4. Parmod Garg.2 (12.6 (17.827. Aras Overseas P.71 (4) Renuka Financial Services Limited The Company was incorporated as Private Limited on February 1.000 486.000 2.) FY03-04 226. 1997.660.56 FY02-03 226.34 NIL 0.300.000 10. Nalwa Investments Ltd.14 2.00 18.26.R.770.500.53 6.802.000 590.000 1.05 0.000. P.445. Ltd.200 NIL 26.U.726.95 6. Jindal Naveen Jindal H.19) NIL (0.020.78) 2.020 Equity Shares of Rs. Vrindavan Services Pvt.05 0.25 100 .20 7. Gagan Trading Co Ltd Jindal Holding Ltd.58 12.590.020 % of shareholding 0. D.871.000 2. Investment and finance related consultancy services.000 21.750.74 8.00 .17 FY01-02 226. Ltd. Ltd.220. Ltd. 10/-each Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs. Ltd.40 2.500.Information Memorandum The financial performance of the company is given below Particulars Share capital 2.05 0.05 0.000 1.69 6. The Board of Directors comprising of Mr.25 2.25 2.000 10.000 1. Baltimore Trading P.000 486.000 1.73 11.
Total Financial performance No.12 NIL 5.000 3.000 710.) FY03-04 215.00.000 NIL 161907596 102.000.015. Mr.750.000 3. The Board of Directors comprising of Mr. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Deepika Jindal P.000.36 (5) Ever Plus Securities & Finance Limited The Company was incorporated on November 24.900.000 10.4 NIL NIL 18754323 (23.590.000 1.32 14.05 0.660.200 FY02-03 215.R.900.000 10.000 1.49 - .38 5.27 21.924.588.670. Investment and finance related consultancy services.U. Ltd. Sanjay Agarwal.90 7.000.F Naveen Jindal H.000 10.00 .00 0.05 0.05 0. 100/-each Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs.05 0.F Savitri Devi Jindal Sangeeta Jindal Yogendra Kumar Garg Nirmal Singhal Stainless Investments Ltd Mansarover Investments Ltd Goswami Credits & Investment Ltd Renuka Financial Services Ltd Manjula Finances Ltd Jindal Holdings Ltd Nalwa Investments Ltd Bhramputra Cap & Finance Ltd Abhinandan Investments Ltd Vrindavan Services Pvt.170.17 10.000 500.000.950.10) 2. 1994 as Private Limited and later on became public Company with effect from March 31.13 7.000 21.27 2.34 3.05 0.38 14. Jindal H.625.000 1. The Company is NBFC (not accepting public deposit) and engaged in the business of finance. 10/-each 1.000 1.) BV (Rs.40 100.500.02 2.000 4.55) NIL (1.94 8. subscribed & Paid-up) 21.00 14.000 NIL 98977652 605.U. of Shares 10. Vivek Goel and Mr.900.000 Preference Shares of Rs.754. 1997.67 NIL 0.025.200 FY01-02 215.Information Memorandum Financial performance The financial performance of the company is given below Particulars Share capital (Issued.000 10.200 10.000 10 10 3. Deepak Goel.56 7.020 Equity Shares of Rs.020 % of shareholding 0.
jobs under S. Gupta. on October 25. 2.026 (42.966) NIL (2. Jain. a.82) NIL (0. of Shares 100 100 % of shareholding 0. 1984 on The Calcutta Stock Exchange Association Limited and no trading has taken placed during last 6 months. R.S. 4.00% Shares of the Company got listed in September. since December 21.250.57% 34. Works (P) Ltd and later on the name was changed to Nalwa Engg. Ltd.200 NIL 148. Shareholding Pattern The shareholding pattern is as follows: Category A. 1. L. R. 1984. c.00) (1. The Board of Directors comprising of Mr. R. B.Information Memorandum The financial performance of the company is given below Particulars Share capital Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs. Financial performance The financial performance of the company is given below . d. Financial Institutions.) FY03-04 210.200 NIL 36.Govt. b. a. 1957 as Sree Iron Foundry & Engg.08% 5.56) (6) Nalwa Engineering Company Limited The Company was incorporated on December 3. The company is engaged in the Business of Cast Iron Foundry and changed the activities in heavy & Light Engg.65 NIL 5. Foreign Institutional Investors Sub .96% 100.6 FY02-03 210.200 NIL 12.16 3.629.606.643. b. Institution.01) (1.04% - c.439 108. Swami and Mr. Mr. Insurance Companies (Central/State Govt.250.Total NON PROMOTER’S HOLDING Institutional Investors Mutual Funds and UTI Banks. P.250.187. M.56) FY01-02 210. Co.377. Institutions/Non. 3.I.270 (80.577.Total GRAND TOTAL No.50 - . 1983.31% 99.) BV (Rs. 193342 108810 16967 319119 319219 60.04% 0.323. Promoters Holding Directors : Persons acting in concert Sub .Total Others Private Corporate Bodies Indian Public NRIs/QCBs Any other (please specify) Sub .
000 496. Ltd.) FY-03-04 31.00 8.F Savitri Devi Jindal Om Parkash Jindal P. Ltd.65 2.000 1.05 0.05 33.500. Total No. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Naveen Jindal H. The Board of Directors comprises Mr. Kamseth Investment P.92 4. 1995 and became Public Limited with effect from March 31.000 10.U.51 - .170. On December 5.05 0.62 0.85 11.000 5.33 8. of Shares 10.000 1.27 FY-02-03 31.000 500.600. Jindal Master Parth Jindal Master Abhuday Jindal Manju Bansal Renu .05 28. Vivek Goel and Mr.000 590.93 3.000 18. Wachovia Investment P.Information Memorandum Particulars Share capital Reserves and surplus (excluding revaluation reserves) Sales (Including Other Income) PAT Dividend (%) EPS (Rs.05 0.03 0.) BV (Rs.000 2.000 10.92 4.65 2.20 15. Ltd.27 (7) Goswamis Credits & Investments Limited The Company was incorporated as Private Limited on January 13.65 2.35 2.427.56 (32.855.65 100.27 3.670.000 2.220 % of shareholding 0.61) Nil (10.00 0.67 6. Deepak Goel.000 496. Abhinandan Investments Ltd Nalwa Investments Ltd Bhramputra Cap.000 10 10 1.38 37.000 496.000 496.17) 11.R.000 1. Musuko Trading P.92 13. 1997. Ltd.05 0. Mr.000 5.82) Nil (17.25 7. In lacs) FY-01-02 31.22) 11.27 (Rs.03 0.722. Sunil Mittal. 2002.000 2. Baltimore Trading P.05 53. Ltd.000 600.83 Nil 11. Ltd.15 2.000 496.S.000 810. Goswami Renuka Financial Services Ltd Stainless Investments Ltd Mansarover Investments Ltd Manjula Finances Ltd Ever Plus Securities & Finance Ltd Jindal Holdings Ltd Vrindavan Services Pvt. Ltd. the Company got registered with Reserve Bank of India as Non Banking Financial Company (not accepting public deposit).92 4.47 (54.420.55 12.200 50. & Finance Ltd M\s Silver smith Gagan Trading Co. Aras Overseas P.25 4.000 10.65 2.00 .
R.e.79) 1.08 (excluding Jindal Seamless Tubes Limited The Company was incorporated on April 12. 1984. Financial Institutions. As the paid-up capital of the Company is only Rs.430 (7. It was incorporated for carrying on the business of continuous cast.362. b.397. w.Indian Promoters .Foreign Promoters 2.) BV (Rs. . of shares % of shareholding 14. The name of the Company was later changed to Jindal Seamless Tubes Ltd.134.95 -46. 1992. Foreign Institutional Investors Sub . Sandip Sharma and Mr. 21 lakhs.10. c.00 The Company’s Equity Shares are listed on The Delhi Stock Exchange Association Ltd.Information Memorandum Financial performance The financial performance of the company is given below Particulars Share capital Reserves and surplus revaluation reserves) Sales PAT Dividend (%) EPS (Rs.350 6.3 (14.11.98 100. Mr. 4.650 2. Institutions/NonGovt.600 -96.Total NON PROMOTER’S HOLDING Institutional Investors Mutual Funds and UTI Banks.38) 0. June 5.103.900 3. Ms. Goel. Promoters: .e. 1956 and since then there is no manufacturing activity in the Company.005.02 --- --- c.904. Institution.85) 2..) (8) FY03-04 187. In the year 1996.52 - .789.962.377.92 FY02-03 187.Total GRAND TOTAL No.222. d. there has not been any trading in the shares for the last several years.f. New Delhi w.200 NIL 11.200 NIL 3.79 --46. P. Sub . The Board of Directors comprises Mr. D.222.626.750 --98.7 (16. 1979 as Nalwa Steels Ltd.871. Jindal. --94. b. Sminu Jindal.19 1. K.05) NIL (0.30 FY01-02 187. a. 3. PROMOTERS HOLDING 1.Total Others Private Corporate Bodies Indian Public NRIs / QCBs Any other (please specify) Sub . Hot and Cold Rolling Mills.73) NIL (0.07 53.57) NIL (0. the manufacturing activities were disposed off under the provisions of Section 293(1)(a) of the Companies Act. Persons acting in concert B.200 NIL 2.f.000 --45. a.750 1. June 28. Insurance Companies (Central/State Govt. Shareholding Pattern The shareholding pattern is as follows: CATEGORY A.222.
75 9.405. 1986.405.53 - . Saxena.56) Nil (10. S.98 9. In lacs) FY01-02 21.) BV (Rs.) BV (Rs.37) The Company was incorporated as Private Limited on June 16.79 (23.04 (15.100 2.125.85 (258./ Jindal Saw Ltd Naveen Jindal Abhinandan Investments Ltd Ratan Jindal Stainless Investments Ltd P.85 (297.130 159.Jindal Jindal Strips Ltd Total Financial performance The financial performance of the company is given below Particulars Share capital (Equity Shares of Rs.85 0.050 % of shareholding 0.93) (118.405.000 Nil 1.) FY03-04 2.400 2.96) No.000 Nil 1.57 9.360.78) (209. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Savitri Jindal O.18 NIL 10.971.370 10 3.80) 13. 1971 and became Public limited with effect from July 30. of Shares 30 60 2. Jindal Colorado Trading Co.760 (1.229.) (9) Rohit Tower Building Limited FY03-04 21.78) (136.400 24.400 2.08 (204.51) (Rs.R.40) NIL (46. The Company is engaged in the property business.60) Nil (7.922.04 13.000 Nil 1.9) FY02-03 2. O.22 (384. Savitri Devi Jindal and Mr.400 2.98 9.98 21. Jindal (till March 31. The Board of directors of the company comprises of Mr.400 130.14) (125.64) 162.51 4. Ltd Gagan Trading Co.52) FY01-02 2.36 (197.005.885. S.41) Nil (175. Smt. Ltd Nalwa Investments Ltd Swastik Udyog Ltd.29) FY02-03 21.98 100. P. 100/each) Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs.98 9.Information Memorandum Financial performance The financial performance of the company is given below Particulars Share capital Reserves and surplus (excluding revaluation reserves) Income PAT Dividend (%) EPS (Rs.25 9.12 0.85 (274. 2005).230 2.250 1.400 5.00 . P.24) 5.15 NIL 16.
Bansal Nominee of Jindal Strips Ltd Total No.P. Sharma and Mr. Mr.15 370. Rajesh Aggarwal.000 520.00023 100. Mr.25 (11.488. 1994.869.21) (Rs.17 1. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Ratan Jindal Jindal Strips Ltd Nalwa Investments Ltd Abhinandan Investments Ltd Stainless Investments Ltd Renuka Financial Services Ltd Manjula Finances Ltd Jindal Steel & Power Ltd R.16 63.22 1. having its registered office at A-1.00023 49.58 Nil 0. 2002.45 (9.000 500.26) 74.00 (2. Arvind Kiran Aggarwal. 1934. K.76) FY02-03 2.64 (11. Aggarwal. Financial performance The financial performance of the company is given below Particulars Share capital Reserves and surplus (excluding revaluation reserves) Income PAT Dividend (%) EPS (Rs.) FY03-04 2.83 Nil 1. 1995.000 500.08 0. Shareholding Pattern The Company is 100% subsidiary of Jindal Saw Ltd.00 (2. Kosi Kalan.000 100 42.17 1. Ranjit Malik and Mr.590.66 163.550. P. UPSIDC Indl.000 % of shareholding 0.54 - .550. R. Mathura (U.00 (3.800 500. The Company was incorporated as Private Limited and became Public Limited with effect from May 4. Distt.86) (11) Brahmputra Capital And Financial Services Limited The Company was incorporated on June 14.000 500. 1994 as Hexa Securities & Finance Co. Nandgaon Road. Parmod Garg. D.) BV (Rs.81) 295.859.000 19. of Shares 100 20.550.17 45.023.200. The Board of Directors of the Company comprises Mr.98) 509.Information Memorandum (10) Hexa Securities & Finance Company Limited This Company was incorporated on November 23.17 1. The Board of directors of the company comprises Mr. The company is Non-Banking Financial Company (not accepted Public deposits) registered under Section 45-IA of the Reserve Bank of India Act.) – 281 403. Ltd. It was converted into Public Limited Company on December 3.00 .00 1. In lacs) FY01-02 2.45 Nil 0.K. Pvt. Area. The Company is NBFC and holds investment in other Companies.
) FY03-04 100.000 (831.667.000 % of shareholding 80. The Company is engaged in the business of finance.R Jindal Shallu Jindal Total Financial performance The financial performance of the company is given below Particulars Share capital 10.79 Nil 2059.164 (1.296 (30.00 No.each Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs. 2004 the name of the said company was changed to Gagan Sponge Iron Private Ltd.000 Nil 188. 1956 under the name of Navin Sponge Iron Pvt.0037) 9. of Shares 8.000 19. On January 13.00 (13) Opellina Finance & Investment Pvt. Ltd. K.717.0066) 9.) BV (Rs.43) Nil (0.000 10 1.000 Nil 118.201.4 FY01-02 425.90 100.000 Nil Nil Nil Nil Nil Nil 7.500) 7%Redeemable Cumulative Preference Shares of Rs.000 83.450.00071) 9.990 10.900. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Naveen Jindal P.) (12) surplus (excluding revaluation FY03-04 425.259 20.150.000. . Investment and finance related consultancy services.09) Nil (109. Raj Kumar Nahata.869 (279.10/-each 1.380 (156.36 1918 FY02-03 100. 100/.103. Ltd.) BV (Rs.468 Gagan Sponge Iron Private Limited The Company was incorporated on February 24.399) Nil (0.70 21.00 0.79) (102) FY01-02 1.900.097. R. 1989 under the Companies Act. Saraf and Mr.000 Nil 15.55 - . The Board of directors of the company comprises Mr.10 19.000 Equity Shares of Rs.350) Nil (0.946.Information Memorandum Financial performance The financial performance of the company is given below Particulars Share capital Reserves and reserves) Sales PAT Dividend (%) EPS (Rs.721.00.900.464 FY02-03 425.316.000 Nil 36.115.000 145.
000 2. V.110.000 Equity Shares of Rs. Starlight Equifin Pvt.452.00 .475 20.) (14) Baltimore Trading Private Limited 100.41.000 950 900 2 704.000 Nil 219. Jindal Equipment & Leasing Consultancy Services Ltd. Ltd. 1994 as a private limited company and converted into a public limited company “Baltimore Trading Ltd.000 Nil Nil Nil (264. 2002.16 0. Surendranath and Mr. Gagan Trading Co. Naman Enterprises Pvt. TOTAL No. R.670.000 % of shareholding 80.00.000 119.each Reserves and surplus (excluding revaluation reserves) Sales PAT Dividend (%) EPS (Rs.15 0.100) 0% Cumulative Redeemable Preference Shares of Rs.000 19.700 (7. 1995 and is engaged in the business of finance. Ltd.693) Nil (114) (178) 1.56 - .000 192.098) Nil (26.26.600 1. Gati Securities Pvt.00 100.217.646 (1. of Shares 8.00 The Company was incorporated on December 9. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Vrindavan Services Pvt. Welworth Equifin Pvt. K. The Board of directors of the company comprises Mr.” with effect from March 23. The Company’s board of directors comprises Mr.4) (69.98 0. Saraf and Mr. Ltd. 100/. Jindal Holdings Ltd.40 16.202 % of shareholding 36. Ltd.651.92 28. of Shares 260.065 1892.144.050 1.100 1.600 119. The Company was reconverted into a private limited company on July 26.98 16.) BV (Rs.13 0. Anand Goel. Ltd.000 10.10/-each 19.14 0.5 100.Information Memorandum The Company was incorporated on March 20. Ltd.00 100.13 0. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Naveen Jindal Shallu Jindal Total Financial performance The financial performance of the company is given below Particulars Share capital 10. Investment and finance related consultancy services. Animation Finvest Pvt.000 74.598 21.00 20.348 Nil 2. Ltd. It is mainly in the business of investments and trading in securities. 1998. Deepak Bhat. Wavelength Capital & Finance Pvt.000 200.2) FY03-04 FY02-03 FY01-02 No. Ltd.
49 (15) Kamshet Investments Private Limited It was incorporated on November 16.000 27.00 (0.03) 31.60) (0. 2002.25) (0.89 173. Vijay Maniar Total No.58) 0.47 FY 02 704. Jindal Equipment & Leasing Consultancy Services Ltd. 1998.00 806.23 225. This company is in the business of investing and trading in securities.300 18.76) (15.87) 2001-02 806. . Mr. 100 each) Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS Rs BV Rs 2003-04 806.100 each) Reserve and surplus Excluding revaluation reserve Income PAT Dividend EPS (Rs.) BV (Rs. R. The company is in the business of investments and trading in securities. 1998.24) (47. Ltd.31) (0. The company was reconverted into a private limited company on August 9. Dileep Bhatt.Information Memorandum Financial Information The financial performance of the company (Rs. in lacs) is given below : Particulars Equity Share Capital (Shares of Rs. Apurva Jhalani.43 FY 03 704. 1994 as a private limited company and converted into a public limited company “Kamshet Investments Ltd. 2002.60 (934.300 21.57 - . Garg.33) (0.20 (482.79) (16) Aras Overseas Private Limited The company was incorporated on September 7. V.83) 2002-03 806.) FY 04 704.04) (15. P.000 32. Gagan Trading Co. Atul Sud Mr. The company was reconverted into a private limited company on July 26.60 (933. of shares % of shareholding 260. in lacs) is given below: Particulars Equity Share Capital (shares of Rs. Kole and Mr. Ltd. V. Mr.30) (0.04) (15.39 2 0.88) (0. Shareholding Pattern The shareholding pattern is as follows: Shareholder Vrindavan Services Pvt.02) 31.005 (0.20 (482. The Board of directors comprises Mr.04) 31.60 (934. Jindal Holdings Ltd.20 (482. Surendranath and Mr. 1994 as a private limited company and converted into a public limited company “Aras Overseas Ltd.17) (0.42) 20.P. The Board of directors comprises Mr. Rajeev Pai. Mr.603 100 Financial Information The financial performance of the company (Rs.29) (0.” with effect from March 23.99) (385.” with effect from March 23.49 148.00 1 0.
Ltd.440 1.000 175. Animation Finvest Pvt. Ltd.44 FY 03 633.21 0.27) (0.00 (350. Ltd.19 0.360 2 633. It is mainly in the business of investments and trading in securities. Ltd.29 0.505 1. Ltd.380 1.00 (17) Wachovia Investments Private Limited This company was incorporated on November 16.23 0.48 FY 02 633.10) 44.45) (0. Jindal Holdings Ltd.012 % of shareholding 28.68) (0. Jindal Equipment Leasing & Consultancy Services Ltd.000 102.18 26. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.) BV (Rs.” with effect from March 23. Starlight Equifin Pvt. Jindal Equipment Leasing Consultancy Services Ltd. Ltd. 2002.005 (0.200 1.22 0. Ltd. Ltd.000 107.00 (351. 1994 as a private limited company and converted into a public limited company “Wachovia Investments Ltd. Vrindavan Services Pvt.600 1. Ltd.Information Memorandum Shareholding Pattern The shareholding pattern is as follows: Shareholder Vrindavan Services Pvt. No. R. Welworth Equifin Pvt. Mr.46 12.16 100.98 13.760 1.500 1.002 77.03 0. 1998. Total Financial Performance The financial performance of the company (Rs. Naman Enterprises Pvt.00 100.17 0.840 1.04) 44.58 - .65 16. Ltd. 100 each) Reserve and surplus Excluding revaluation reserve Income PAT Dividend EPS (Rs.002 % of shareholding 41.07 27. of shares 260. Animation Finvest Pvt. Welworth Equifin Pvt. Jindal Holdings Ltd. Rajeev Pai. Ltd.28 0.63) (0.41) 0. Gati Securities Pvt.48 0. Ltd. Ltd. Wavelength Capital & Finance Pvt. Deepak Bhat. Naman Enterprises Pvt.21 0. Kole and Mr.500 82. Ltd. Shareholding Pattern The shareholding pattern is as follows: Shareholder Gagan Trading Co.25 0. Wavelength Capital & Finance Pvt.000 164.51 15.080 1. Ltd.00 .020 621. The company was reconverted into a private limited company on August 9. of shares 175. Gagan Trading Co.58 No.320 1. P. Starlight Equifin Pvt. Ltd.07) 44.41 16. Gati Securities Pvt.505 96.) FY 04 633.00 (351. Its board of directors comprises Mr.79) (0.
This company is in the business of real estate development. 1994 as a private limited company and converted into a public limited company “Musuko Trading Ltd.50 18. Shareholding Pattern The shareholding pattern is as follows: Shareholder Reynold Traders Pvt.70 3. .) 2003-04 621.22) 2001-02 621. The company was reconverted into a private limited company on August 26. Ltd.77) (0. 2002. The board of directors comprises Mr. P.79) 26.) BV (Rs.07) (0.59 - .000 5.01 (759.000 1.000 10 10 27. Rishikesh Finlease & Investments Pvt.01 (0.99) 2002-03 621. of Shares 5. 1994 as a private limited company. Gagan Trading Co. Rajiv Khaitan Mrs. Krishne Gowda. S. P. Rashmi Khaitan Financial performance The financial performance of the company (Rs.00 (19) Musuko Trading Private Limited (MTPL) MTPL was incorporated on November 14.08) (22.100 each) Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs. The company is mainly in the business of investments and trading in securities.12) (0. Chari and Mr.84 (4.02) (0.000 1.64 FY 02 2. K.50 18. Company’s board comprises Mr. M.70 (2.) BV (Rs. Kole and Mr. Sriram. Dileep Bhatt.51) (0. Sandip Sharma Mr. Ltd. 1998.70 (2.71) (20.04 100.26) 9.N.70 0.64 FY 03 2.000 5. Devender Singhal Mr.77) (22.S. P.01 (758. Vrindavan Services Pvt.90 No.50 18.40) (22.52) (9.R.” with effect from March 23.46) 0. Ltd.50 18.Information Memorandum Financial Performance The financial performance of the company (Rs.50 3.000 5.51) (2.020 % of shareholding 18. Ltd.) FY 04 2.14) (18) Argil Properties Private Limited (APPL) APPL was incorporated on July 6. Mr.000 5. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.51) (126.01 (763. Ltd. Mr. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.70 0.32) 0. Meredith Traders Pvt.63) (0.04 0.
710 1.) BV (Rs.52 16. 1985.00 100.452 % of shareholding 33. Ltd.10 100. Shareholding Pattern The shareholding pattern is as follows: Shareholder Sun Investments Pvt.06) 9.225 125.000 % of shareholding 49.03 34.000 150. Shyamlal Agarwal Total Financial Performance The financial performance of the company (Rs. Ltd. Ltd. Jindal Equipment & Leasing Consultancy Services Ltd.10 0.79 29.09) FY 03 1.003 No.N. Ltd. Ltd. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) FY 04 1.19 0.100 each) Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.11) (0. K. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.16) 0.000 225. Sanjay Agarwal.00 (20) Nalwa Chrome Private Limited This Company was incorporated on September 2.01) 34. Gagan Trading Co.33 No.60 - .03 7.45 (513. of shares 4.00 FY 02 0.160 2.24 19.05) 33. Ltd.28 0.35 2002-03 769. Its board of directors comprises Mr. Sriram and Mr.27 0. Mr.225 2. Total Financial Performance The financial performance of the company (Rs. Ltd. Ltd.08 (0.Information Memorandum Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Vrindavan Services Pvt.00 (0. Ltd.36 2001-02 769.45 (505. Jindal Holdings Ltd. Wavelength Capital & Finance Pvt.) 2003-04 769.90 0.620 1.45 (505.00) (0.440 2 769. It has made strategic investment in the shares of South West Port Limited. Mr.070 1. Starlight Equifin Pvt.22 0.27 0.39) (0. Animation Finvest Pvt. Naman Enterprises Pvt. Vrindavan Services Pvt. of Shares 260.S. Welworth Equifin Pvt.990 10 10 10. Ltd.95 1.00 . I Qureshi.21 0. Sushil Buwalka Mr. Gati Securities Pvt.990 4.90 49.
Sangita Jindal Mrs. 10 each) Reserve & surplus Excluding revaluation reserve Misc. Expenditure not written off/Preoperative Expenses Income PAT Dividend EPS (Rs.94 49. 1985 as a public limited company. Mr. Jindal.10 (0. The board of directors of the company comprises Mr.P.02 0.13 FY 03 5. Shareholding Pattern The shareholding pattern is as follows: Shareholder Mr.02 0.22) (719. Mr. expenditure not written off /Preoperative expenses Income PAT Dividend EPS (Rs. Kole and Mr.20) (0.) (22) Kavita Securities Private Limited FY 04 5.09) (0. of shares 10 10 10 10 10 10 10 24.970 24.92 100. 1995.960 50. R. Urmila Bhuwalka Mrs. Mr.24) 7.007 (0. The company has not yet commenced commercial activity.) (0. P. R. Jindal Mr.Information Memorandum Misc.19 FY 02 0. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.000 % of shareholding 0.95) 7.13) (21) Maharashtra Sponge Iron Limited Maharashtra Sponge Iron Limited was incorporated on September 2. Dileep Bhatt.) BV (Rs. Shareholding Pattern The shareholding pattern is as follows: . Jayaraman.60 (0. Bhalerao. Ltd Gagan Trading Co. Surendranath and Mr. Sajjan Jindal Mr.00 (0. This company is mainly in the business of investments and trading in securities. Asha Agarwal Sun Investments Pvt.02 0. R. Shyamlal Agarwal Mrs.53) No.00 The company was incorporated on February 28.02 0.02 0. Ltd Total Financial Performance The financial performance of the company (Rs.38) NA NA NA NA (530. V.) BV (Rs. P.02 49.40) NA NA NA NA 9. O.43) NA NA NA NA 9.02 0.61 - .R. The company’s board of directors comprises Mr. Anilkumar Agarwal. Sushil Bhuwalka Mr. D.00 (0.
00 50. Ltd.) 2003-04 0.R. Gati Securities Pvt. Surendranath.) BV (Rs. Ltd.00 100.00) (5461814) 2001-02 0.00 (108. Ltd.84) (5342) 2001-02 2.07) (0.002 (109.14) (7.93) (0.) BV (Rs. Starlight Equifin Pvt.36) (0.76) (8.98 15.14) (7157.12) (405.62 - . Kole and Mr.16) (7. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.01) (5348) 2002-03 2.22) (0.98 20. P. Welworth Equifin Pvt. It is mainly in the business of Investments and Trading in securities.19) (9770. Total Financial Performance The financial performance of the company (Rs.) 2003-04 2. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.98 22. of shares 1 1 2 % of shareholding 50. Shareholding Pattern The shareholding pattern is as follows: Shareholder Gauri Investments Pvt. of shares 2 440 320 360 420 460 2002 % of shareholding 0. The board of directors comprises Mr.12) (405937.10 21. Ltd.002 (109. Silky Investments Pvt.00 (109. Ltd.03) (8.Information Memorandum Shareholder Naman Enterprises Pvt.002 (109.00 (108. Animation Finvest Pvt. 100 each) Reserve and surplus Excluding revaluation reserve Income PAT Dividend EPS (Rs.98 17.Ltd. Ltd.00 (24) Sapphire Technologies Limited . Mr. Total Financial Performance No.00 The financial performance of the company (Rs.50) (5452869) No. V. 1995. 100 each) Reserve and surplus Excluding revaluation reserve Income PAT Dividend EPS (Rs. Ltd.50) (5468146) 2002-03 0. Wavelength Capital & Finance Pvt. Apurva Jhalani.64) (5335) (23) Laptev Finance Private Limited Laptev Finance Private Limited was incorporated on February 6.98 100.
86 49.47) (2.100 1. Its board of directors comprises Mr.R.95) No. Gagan Trading Company Ltd.70) (3.99 20. to act as consultants and advisors on information system etc.00 Rishikesh Finlease & Investments Private Limited Rishikesh Finlease & Investments Private Limited was incorporated on August 12. Nirmal Kumar Jain Total Financial Performance The financial performance of the company (Rs.60) 121. N. Jain. P. N.050 800 1 1 5. Ltd. Nowal and Mr. Raman Madhok Mr. K. 1994.31 (8.50. It is mainly in the business of investments and trading in securities. Shareholding Pattern The shareholding pattern is as follows: Shareholder Welworth Equifin Pvt.83 1.99 21. Starlight Equifin Pvt. Mr.81 (12. of shares 1. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs. Ltd. Shareholding Pattern The shareholding pattern is as follows: Shareholder Reynold Traders Pvt. Mr. Manish Shah P.S. Sriram K.93 4.25. K. Dr. Raman Madhok. V. Patel.99 17.08 0. Shireesh Wagh Mr. Wavelength Capital & Finance Pvt. Vrindavan Services Pvt. Gati Securities Pvt.15) (0.02 100.700 % of shareholding 49.44 FY 03 25.002 % of shareholding 22.150 900 1. Its board of directors comprises Mr.04 0.) (25) FY 04 25. Ltd.61) 14.Information Memorandum This Company was incorporated on October 5.04 100. Ltd.90) (5.com” through which it conducts auctions for facilitating sale of steel products.04 0. Ltd. 2000 as a public limited company to carry on the business of software development.63 - .04 0. Animation Finvest Pvt.000 1.30) FY 02 25.25. Ltd. Purohit Total No. Kole and Mr.07 (12.07 (21.86 0.07 (8.S. of shares 1. Kantilal Narandas Patel Mr. Jayant Acharya Mr.70) 20.99 0.02 0.29 4. The Company has developed a portal “Steelemart. K.99 15. Ltd.000 200 100 100 100 100 100 2.04 0.N.) BV (Rs.00 .
77) 0. Rajeev Pai and Mr. 2003 to carry on the business of Management & Engineering Consultancy Services. Board of directors comprises Dr.63) No.95) FY 02 5.96) 2700.) BV (Rs. (28) Jindal Coated Steel Private Limited .00 (11.79) (0.91 (1736. Apurva Jhalani.100 each) Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.74) 1.95 1. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.00 (47.37) (87. Mr. Mr.64 - . The company’s board of directors comprises Mr.35) (1737. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.) (27) FY 04 5. Mr. Patel. K.K. V. Deepak Bhat.N.38) (13.00 (51.00 (873.00 (51.17) (1724.01) 1. Ltd. the number of shares being 5.) BV (Rs.19) (0.000 25. Total Financial performance The financial performance of the company (Rs. Shareholding Pattern The shareholding pattern is as follows: Shareholder Reynold Traders Pvt.57) (934.00 50.00 (873.32) (934. the company is in the business of property development. The company intends to prepare its first accounts for the period ending 31st March 2005 for period exceeding 15 months for which necessary permission has been obtained from Registrar of Companies.00 Jindal Technologies & Management Services Private Limited (JTMSPL) JTMSPL was incorporated on December 3.37) (0.000 % of shareholding 50. V Surendranath and Mr.) FY 04 5.000 each.18) (26) Naman Enterprises Private Limited Incorporated on April 19.95) FY 03 5.03) (0. Ltd. of shares 25.000 50.02) FY 03 5.00 (862.27 0.45) FY 02 5. Its shares are held by Vrindavan Services Private Limited and Sun Investment Private Limited equally. Nowal.Information Memorandum Financial Performance The financial performance of the company (Rs.22) (847.50 (4. Bavneesh Gulati. Rishikesh Finlease & Investments Pvt.00 100.56) (11.18 (0. 1994 as a private limited company.
Ltd. Private Limited Incorporated on January 12.65 - . Sriram K S N. in lacs) is given below: Particulars Equity Share Capital Reserve & surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.05) 5.92 (29.00 .00 (29) Dhaman Khol Engineering & Construction Co. Garg. of shares 4.) FY 04 2200. V. Mr. Ltd. 1996 as a private limited company.00 (0.Information Memorandum The company was incorporated as a private limited company “JBS Steel Products Pvt.66) No.22 FY 02 2200. K. However the project was shelved due to uncertain outlook in the steel market.000 11.99) 16. Bhalerao and Mr.85) (0.49) (0.13) 5.00 0. 1998.009) 5. P.00 (1051. Limited V.00 49.83) 8. Jain. The Company is in the business of trading in steels and also has made strategic investment in South West Port Ltd. Shareholding Pattern The shareholding pattern is as follows: Shareholder Reynold Traders Private Limited Tranquil Homes & Holdings Pvt. of shares 11.000 22.53 (2. 1996 and was converted into a public limited company “JBS Steel Products Ltd.00 1.900 100 100 10.) BV (Rs.” with effect from February 23. The name of the company was changed to “Jindal Coated Steel Ltd. Raman Madhok and Dr. Shareholding Pattern The shareholding pattern is as follows: Shareholder Jindal South West Holdings Limited Sun Investments Pvt. 2002.00 100. K. Nowal. P.000.28) (0.09) (0. The company’s board of directors comprises Mr.63 0.000 % of shareholding 50.900 4.42) 0.27 No. Garg Girish Ghate Total Financial performance The financial performance of the company (Rs.00 1. N.000 % of shareholding 49. V.000. The company had commenced a project for setting up an organic coated steel plant.53 FY 03 1.21 FY 03 2200.” on August 6.00 50. Mr. Total Financial performance The financial performance of the company (Rs. R.60 FY 02 0. D. The company’s Board of Directors comprises Mr.81 (11. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Miscellaneous Expenditure not written off FY 04 1.000. Presently the company is in the process of diversifying into other business activities.00 (1039.00 (1053.92) 0. 2001 and the company was reconverted into a private limited company with effect from July 26.00 100.” on December 12.02 (0.
Information Memorandum Income PAT Dividend EPS (Rs.55 21. Limited Total Financial Performance The financial performance of the company (Rs.24 FY 03 289. Krishna Deshika Mr.00% 0.) BV (Rs.73 No.00 100. in crores) is given below: Particulars Equity Share Capital Reserve & surplus Excluding revaluation reserve Operating Income PAT Dividend EPS (Rs. 1994.00% 0.01) 41.03)(15.100 102.) BV (Rs.00% Chairman Vice Chairman Joint Managing Director & CEO Director Finance Director Director Nominee of ICICI Nominee of IDBI .48 (11. Limited Vrindavan Services Pvt.000 29.27% 100.00 231.000.66 - . N. Abraham Mr.33 (0. Jain Mr.685.46 0. The plant has been operating since January 2000 at PLF of over 95%.13) (0.40) (0.88 278.47 FY 02 289. JTPCL has set up a 2X130 MW thermal power plant.35% 10.160.56 6.T.11 1. Prithvi Raj Jindal Mr. in Toranagallu village.35) (459.00% 0.00 295. Raman Madhok Mr.499.74 13. K.96 12. JTPCL consumes about 20 MW as auxiliary consumption and supplies about 140 MW of power to JVSL and about 100 MW to KPTCL. Ratan Jindal Jindal Vijayanagar Steel Limited Gagan Trading Company Limited Sun Investments Pvt.31 234.) (30) Jindal Thermal Power Company Limited 430.43 195.56 1. P. Sajjan Jindal Mr.00 79.90) JTPCL was incorporated on March 10. of Shares 100 100 100 100 100 144. Sajjan Jindal Mr. Raaj Kumar Mr.K.77 20. Jayaraman Iyer Shareholding Pattern Shareholding Pattern is as follows: Shareholder Jindal Strips Limited Jindal South West Holdings Limited Mr.00% 0. R.400 12.000 289.20 56. Karnataka. District Bellary.) FY 04 289.00% 50.00% 4.05 10.655. It is engaged in the business of power generation.000 % of Shareholding 0. Balaji Swaminathan Mr.38% 35. The Board of Directors comprises: Mr.14) (1.
07% 0. Bellary District.000 200.00% 0.86 No.2 crores (as on 3.000 2.500 Cr. has a production capacity of 2. The company is also now setting up of two 30 MW power plant in SISCOL premises.05) NIL Commercial Operation yet to begin Commercial Operation yet to begin Nil Commercial Operation yet to begin Rs. 1994. Raaj Kumar Mr. Sanjay Sagar Mr. 6. of shares 5000 55. Spread over 3500 acres of land.3.Information Memorandum (31) JSW Power Limited (JPL) JPL was incorporated on January 3.67 - .26% 3.200. Austria is the first plant to . Jain Mr. JPL is setting up two power plants with the capacity of 100 MW each.00% Chairman Vice Chairman Director Whole time Director Director Whole time Director Jindal Vijayanagar Steel Limited (JVSL) Jindal Vijayanagar Steel Limited (JVSL) was incorporated on March 15.000 78. The scheduled time for commissioning of Unit I is April 2005 and for Unit II is October 2005.700 100 100 100 33.50% 0.00% 0. which will be captive to Jindal Vijayanagar Steel Limited (JVSL).959. K.400 26.79% 100.02% 12.5 mtpa of HR coils with an investment of around Rs.) BV (Rs. 2003 under the Companies Act.K.600. Varkey Shareholding Pattern is as follows: Shareholders Gagan Trading Company Limited Jindal South West Holdings Limited Vrindavan Investments Private Limited Sun Investments Private Limited Reynolds Traders Private Limited Naman Enterprises Private Limited Jindal Coated Steel Private Limited Jindal Thermal Power Company Limited Silver Steel Limited Hexagram Investments Private Limited Euro Ferro Alloys Private Limited Total: Financial Performance The financial performance of the company for the first year is given below: Particulars Equity Share Capital Reserves and Surplus Sales PAT Dividend EPS (Rs. Company’s board of directors comprise of the following directors: Mr.43% 5. Krishna Deshika Mr. 1956.) (32) FY 04 Rs. namely: Unit I and II. JPL is promoted by Jindal Thermal Power Company Limited and the other Companies of the Groups.600 4.00% 43. 9. Upinder Singh Mr. which uses COREX technology from Voest – Alpine. It has been promoted by JISCO and its associated companies and Karnataka State Industrial Investment Development Corporation Limited (KSIIDC). The plant. N.000 % of shareholding 0.01% 0.93% 34.000. K. JVSL's plant located at Toranagallu.T.000 10.640. 78. J.739.
04 (110.67) Nil (0.83% 1.Foreign Promoter's Persons acting in Concert Sub .13 2329.12% 30.49 528.97 7035.92 6.Indian Promoter's . of Shares held % Shareholdings 55154742 5704612 0 60859354 42. JVSL was set-up as a backward integration facility for production of hot rolled coils for JISCO. Shareholding pattern as follows: - Category A Promoter's holding Promoter's * 1 2 B 3 A B .68 - .82% 0.28 2002-03 1352. in crores) is given below: Particulars Share capital Reserves and surplus (excluding revaluation reserves) Sales (including Excise duty) PAT Dividend (%) EPS (Rs.03% 22.03 Nil 2786.25% 3.86) 1. Plates and Sheets and is the only flat Steel Producer in South India.Total Non-Promoter's Holding Institutional Investors Mutual Funds and UTI Banks.30 2003-04 1631.98 195. Financial Performance The financial performance of the company (Rs.Information Memorandum use oxygen-based Iron and Steel making in the country with continuous casting and hot strip mill.08 Nil 3590.00% Stock Market Data .) # BV (Rs. JVSL manufactures high quality Hot Rolled Coils.41% C 4 A B C D 28028571 7901485 39035198 4346484 21715128 2354540 684458 43980 29144590 129039142 21. Finacial Institutios.) 2004-05 469.11 80% 64.59% 100.37% 16.00% 47. Insurance Companies (Centeral/State Govt.69 # Previous years’ EPS has not been recomputed on the basis of share capital re-organized in the year 2004-05 as per the terms of the Scheme of Arrangement & Amalgamation.53% 0.74% 4.Total Grand Total No.90 870.68 Nil 3.42% 0.Institutions /Non-Government Institutions) FIIs Sub .16% 3105142 2.Total Others Private Corporate Bodies Indian Public NRIs/OCBs Any Other(Please Specify) Trust Huf Sub .72% 6.
25 15. Managing Director & CEO Jt. 1993 in the name of Kay Kay Cold Storage Private Limited. The Board of Directors of the merged entity comprises: Smt. 2000 (appointed date) on a going concern basis for a consideration of Rs.50 356. Vittala Murthy.80 18.90 14. S.2004 to 31. 391.) 458. Through a scheme of Arrangement and Amalgamation between JISCO. 2000. Vasind division (consisting of cold rolling facility) of the Jindal Strips Limited has been transferred to a subsidiary company Kay Kay Cold Storage Limited with effect from January 1. Singh Mr.2005.N. David Chandrasekaran Mr.00 11. Raman Madhok Mr.65 13. Aiyar (33) Jindal Steel & Alloys Limited Chairperson Vice Chairman & Managing Director Jt. the steel business of JISCO has been merged with that of JVSL from the Appointed Date 1st April. Savitri Devi Jindal Mr. Pursuant to scheme of arrangement sanctioned by High Court of Punjab & Haryana. The said scheme has been sanctioned by the Hon’ble High Court of Mumbai and Karnataka and has since become effective from 4th February.35 The market price of shares of JVSL (as on April 4.10.V.00 13.049.70 22.99 11.40 356. Roy Mr.03. B. 2005) on BSE was Rs.K.00 14. Managing Director & CEO Director (Finance) Director Nominee Director-KSIIDC Nominee Director-KSIIDC Nominee Director –IDBI Nominee Director-ICICI Bank Ltd Nominee Director-LIC of India Director Director It is a subsidiary of Jindal Strips Limited. N. facilitating for organic and inorganic growth. The company was incorporated on June 10. R. JSWHL and JVSL (“scheme”). Ramaswamy P.20 15.67 12. IAS Mr.) Low (Rs. 2005.) Low (Rs.I. 5. Gupta Mr. 5127 complaints have been resolved and 154 complaints are pending.30 crores.00 18. 2003. IAS Mr. Out of 5255 complaints (related to shareholders) received during the period 01. JVSL as a consolidated entity has acquired significant strength with strong financials. Sajjan Jindal Dr.10 NSE High (Rs.Information Memorandum Month/Year March/2005 Februvary/2005 January/2005 December/2004 November/2004 October/2004 BSE High (Rs. Anthony Paul Pedder Dr. Board of Directors details as follows . Seshagiri Rao M.S Dr.N.95 18. Balaji Swaminathan Mr.79 12. 35 crores. The scheme has been made effective on October 3.30 and the market capitalization was Rs. Gokul Ram.M. The name of the company was changed to Jindal Steel and Alloys Limited.65 22.75 12. The average time taken by the company for redressal of complaints varies from 7 to 15 days.40 11. depending on the type of complaint.80 18. After the merger. The company has its investor service center at Mumbai and has engaged the services of a Registrar & Transfer Agents to handle investor grievances.90 14.69 - .40 11.) 457. The manufacturing facilities of the company has been given on Conducting agreement basis for a period of 33 months commencing from 1st June 2003 and ending on 28th February 2006 to Jindal Vijayanagar Steel Limited for the consideration of Rs 50 Lacs per month.
B.) (34) Vijayanagar Minerals Private Limited (VMPL) FY03-04 702. V.18.68 109. Raman Madhok Mr. P. N.0071 500 0. Yogendra Tripathi. S. Mr.0014 100 0. Patel Mr. N. Singh.06 21569. Mr. The board of directors comprises Dr.02 The company was incorporated on June 17.00 . Ratan Jindal Mr. Jindal Mr. Limited Total Financial performance No. K. M.0000 The financial performance of the company (Rs. Krishne Gowda. Jija Madhavan Hari Singh. Anil Sood. Ram Chandra Sharma Dr.24 54.78 1. K. Kole Mr.27 0.28 70.00 53. in lacs) is given below: Particulars Share capital Reserves and surplus (excluding revaluation reserves) Sales (Net of Excise) PAT Dividend (%) EPS (Rs. A.00 3000 30. K. Rajeev Pai Mr. Gupta. Subhash Sharma Mr. Mr.80 FY01-02 702. Jain Mr. It is in the business of mining and extraction of minerals.00 1500 15. metals.9786 500 0. N. N.0014 100 0. Vinod K.) BV (Rs. R.0071 100 0.0014 100 0. Shareholding Pattern The shareholding pattern is as follows: Shareholders Jindal Vijayanagar Steel Limited Mysore Minerals Limited Gagan Trading Company Limited Sun Investments Pvt. P. ores etc. of shares % of shareholding 70. U.0014 100 0.00 1500 15. Mr. Venkateshan and Mr.82 FY02-03 702. Rajeev Pai Total Financial Performance: Designation Managing Director Director Director Director Director Director Director Director No.500 99.Information Memorandum Name Mr. Sushil Bansal Mr.77 52.34 17005.83 9808. K. 1997.00 2951.56 52.00 10000 100. Singh. P. Mr. Patel Mr.00 3005. O. Raman Madhok. Om Prakash Agarwal Shareholding Pattern is as follows: Shareholders Jindal Strips Limited Mr. of Shares % of shareholding 4000 40. Dr.00 3075. Nowal Mr.49 1. Smt.70 - .0014 7020000 100.
Prakash. which is headed by Mr. 1991 as a Public Limited Company promoted by M/s.289. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Sales PAT Dividend EPS (Rs. Bars and Rods at its integrated steel plant located at Pottaneri/M.100 7.92 50.974 3. Steel Billet and Rolled Steel products in the long product category. The Company has become a Sick Company as on June 30.74 (61.000 56. It also has plants for generation of power and production of oxygen.00. Steel Melting Shop in January 1999.93 45. 2004 is as follows: Category Promoters and Promoter Group (a) JSW Group (including Mr.3 mtpa.976 29. V. T. Sajjan Jindal) (b) TIDCO Sub Total (a)+(b) Other Shareholders Mutual Funds and UTI Banks. Krishna Deshika.42.000 82. (TIDCO).850 % of shareholding 39.16) 2. Sajjan Jindal. The capacity of the plant is 0. P. Mr.50.21.08 0. It has adopted the Sinter plant – Blast furnace – Energy Optimising Furnace – Continuous Casting Machine – Bar and Rod mill route with virgin iron ore as the basic input material.39. (LMW) and Tamil nadu Industrial Development Corporation Ltd.39 10 FY 03 1. Mr. The Company operates an integrated steel plant having facilities for production of Pig Iron.in lacs) is given below: No.30 0.00. The board of directors of the company comprises Mr.051.10) 1. K. The Company is in the business of manufacturing Pig iron.) BV (Rs. V.Information Memorandum The financial performance of the company (Rs. The Company started commissioning its units with iron making division and power plant in 1996. 2004 within the meaning of the Sick Industrial Companies (Special Provisions) Act. FIs and Insurance Companies Private Corporate Bodies Indian Public NRIs/OCBs Total Financial performance The financial performance of the company (Rs.71. K. LMW has sold their entire shareholding in SISCOL to the Jindal South West (JSW) Group.10) 10 Southern Iron And Steel Company Limited (SISCOL) Southern Iron and Steel Company Limited (SISCOL) was incorporated on September 11. Sinter plant in August 1997.90 (568. Jain.71 - . Shareholding Pattern The shareholding pattern as on December 31.00 (629. of Shares 3.55) 1. In terms of the CDR approval and as per approval by the shareholders of SISCOL and by SEBI. N. Mr.04 100% .00 (463.) (35) FY 04 1. S. 1995.45) 10 FY 02 0. Kalipatti villages.01 3.664.88 166. Mr.82. Air Separation plant in June 1999 and Bar and Rod Mill in May 2002. Vijay Sharma. Kshirsagar.50. Billets.100 29. Lakshmi Machine Works Ltd. Mr. Kamal Kishore Gupta and Mr.00020 (568. and is referred to BIFR.55. Shanmugasundaram.000 3.700 10.64 0.71 10.
75 34. 1999 for the development. The company has engaged the services of a Registrar & Transfer Agent to handle the grievances of the investors. Ltd No. 2005 and closes on April 29.45 Low (Rs. (C) Associate Companies (1) South West Port Limited (SWPL) SWPL incorporated on June 26.Information Memorandum Particulars Share capital Reserves and surplus (excluding revaluation reserves) Sales PAT/(Loss) Dividend (%) EPS (Rs. Shareholding Pattern The shareholding pattern is as follows: Shareholder ABG Heavy Industries Ltd. The company’s name was subsequently changed to SWPL in September 2003.V.47) Nil (6.80 FY03-04 (15 months) 16039.The market price of shares of the company (as on April 15. 1997 as a private limited company known as ABG Goa Port Private Limited and promoted by ABG Heavy Industries Limited (ABGHIL).72 - .24 7607.000 84. SWPL has entered into a license agreement with Mormugao Port Trust (MPT) on April 11.10 18.85 51.31) (16.K.96 26844.80 21.49) Nil (20. depending on the type of complaint.67) 10. Captain B.10 and the market capitalization was Rs. constructing. operating and maintaining two dedicated bulk cargo berths at MPT on a build.J.38 (2771.05) 4.) 14.05 crores.11 The Company’s rights issue is open since March 31.12.20. own.) Stock Market Data Month October 04 November 04 December 04 January 05 February 05 March 05 BSE High (Rs.20. Raman Madhok. Nasser Munjee and Mr. Sharma (Joint MD & CEO).K.00 18. V. equipping.30 23. Saket Agarwal. 2005. Co. Pvt.96 34144. financing.23 . designing.60 23. Mr. The average time taken by the company for redressal of complaints is up to two weeks. & Const.) BV (Rs. Nowal.) 18.06 FY01-02 16039. Mr.85 24.24.43) Nil (3. Sajjan Jindal.43 (4570. The board of directors of the company comprises Mr. Status of Investor Complaints received during the period from October 2004 to March. 2005) on BSE was Rs.24 7607. resolved/replied 16 and Pending Nil.05 20. owning.182. operate and transfer (BOOT) basis.56 (15340. engineering.24 7607. of shares 1. 2005 – Received 16.25) FY02-03 16039.96 4930. Dr.00 21.95 15. (including nominees) Dhaman khol Engg.000 % of shareholding 26.
01 --53.00 After March 31.24. Qureshi. Mr.17 1.10 NIL 1. Mr.752.20.571.95.00. 1995 and manufactures liquid and gaseous Oxygen.79 845. K. Mr.938 1.000 23. Mumbai.11 11.10.59 No.47 220.127.116.11.00 26. Asit Gangopadhyay.200. Venkatesh Prabhu and Mr.98 9.00 7.02. Mr. Gerry Reidy. Ltd. Jain. (2) Jindal Praxair Oxygen Company Private Limited (JPOCL) JPOCL was incorporated on September 27.910.5% Secured Redeemable Non Convertible Debentures of the Company are listed on The Stock Exchange.42 3. N. Kalyana Sundaram.00 -28. 9. Nitrogen and Liquid Argon.062 4.) FY 04 3497.000 15.36 9.01 NIL 2.00 450. other income) PAT Dividend (%) EPS (Rs.00 .89 27.600.00 4.551.01 12.877. Vikas Sharma.79 22.000 % of shareholding 74. 10 each) Reserves and surplus (excluding revaluation reserves) Income (incl.82 FY 02 550. Mr.62.00 100. C.Information Memorandum Tranquil Homes & Holdings Pvt.85 FY 03 1150.21 9. Mr. 2004 the Company has issued 11229900 equity shares. The Shares of the SWPL are not listed. Ltd.000 45.00 15.248.37 2.604.00. The Board of Directors of the company comprises Mr.) Note: Audit for FY 2004 has not been completed yet. Moosa Raza.17 100.) BV per share (Rs.81 9. FY 2003 FY 2002 FY 2001 15. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs. Shareholding Pattern The shareholding pattern is as follows: Shareholder Praxair Pacific Private Limited Jindal Vijayanagar Steel Ltd.43. Mr. I. of shares 11. no profit and loss account has been prepared by the company.31 16. Mr.24. Financial performance The financial performance of the company (Rs.73 - . However. John Panikar. Sharad Madhok.718.91 13. (Including Nominees) Silver Steel Ltd Total 1.03 NIL 1.K.11 25. Nalwa Chrome Pvt. Muralidhara.85 Since the company had not started commercial operation till FY04.000 3. in lacs) is given below: Particulars Equity Share Capital Advance against Share Capital Reserve & Surplus Miscellaneous Expenditure not written off BV (Rs.00 --7. Total Financial performance The financial performance of the company (Rs. Mr.00.
Information Memorandum SUBSIDIARY COMPANIES JSWHL has no subsidiary company/ies as on date. .74 - .
The Company also provided consultancy services resulting in an income of Rs. . In financial year 2003-04. the Investment Division of JISCO. without any further act. pursuant to the provisions of Section 391-394 of the Companies Act. 560. stands transferred to and vested in JSWHL. 5 lacs and made investments in Jindal Group Companies to the tune of 8. 0. instrument. Risk & Concerns JSWHL’s main source of income is dividend on investments made in listed / unlisted companies. 2001. or deed. 52121. Therefore. 0. 529. The share capital of the Company stood at Rs. After giving effect to the above Scheme during the Financial Year 2004-05.50 lacs. the Income of the Company for the year ended March 31. 1956.96 lacs as against Reserves and Surplus of Rs. the Company continued to hold its investments in Jindal Group Companies in addition to providing of consultancy services.70 lacs.Information Memorandum MANAGEMENT DISCUSSION & ANALYSIS Performance in successive periods The Company was incorporated on July 12.28 lacs. During financial year 2002-03 the Company raised additional share capital of Rs.06 lacs.66 lacs mainly comprising of dividend and interest income and the Profit after Tax amounted to Rs. 5 lacs and incurred pre-operative expenses to the tune of Rs. any adverse financial impact on the operations / business / performance of investee companies will have negative impact on the revenue of JSWHL. Pursuant to the Scheme of Arrangement and Amalgamation approved by Hon’ble High Courts of judicature at Bombay and Karnataka.75 - . The Company raised equity share capital of Rs. no Profit & Loss account was prepared. During financial year 2001-02 since the Company had not commenced any commercial activity. 2005 stood at Rs.48 lacs. 1109.
Corex 1 was recommissioned after a lapse of one year by carrying out rectifications/modifications.00 126. 25. 135 crores and (b) 27.43 23. 70 each for cash at par aggregating Rs. Capitalisation of preoperative expenses incurred during prolonged trail run.000 14% secured redeemable Partly Convertible Debentures (PCDs) of Rs.00 738.18) The project cost to set up an integrated steel plant of capacity of 1. 1090 crores. Public Issue of Jindal Vijayanagar Steel Limited The company had come out with two simultaneous but unlinked public issues of (a) 13.67 80.77) (34.50 crores.23 183.50.68 21.20 47.00 34. A comparison of promises versus performance is given below: (Rs.08 1548. These issues opened for subscription on March 23.25.29 (148.00 162.84) 801.00 180.00 317.00 524. These issues opened for subscription on February 10. the steel industry as a whole witnessed historically low level of selling prices on account of a global down turn.48 (29.00. performance for the Company and other listed group companies are given below: Public Issue of the Company The Company has not come out with any public issue in the past.00.37 0. 2004 was Rs. 6226 crores.000 Partial Optional Convertible Debentures (POCDs) of Rs.00 530.92 1944. converter caster. 3300 crores including margin money for working capital.50 crores and (b) 35. 10 aggregating Rs.00 537.04) 1220.00 134.30 (34.00 17.76 - .25 mtpa of HR coils in June 1994 was estimated to be Rs. 10 each for cash at par aggregating Rs.00 129.00 151.00 623.000 equity shares of Rs.30) 0.00 162. Public Issue of Southern Iron And Steel Company Limited The Company had come out with two simultaneous but unlinked issues of (a) 1.18 (0. During the initial project implementation.000 equity shares of Rs.78 197.00 614.00 (0.00 134.00 931. Delay in disbursal of loans and non-receipt of call money caused a further delay in project implementation.00 32.00 320.87 84. in crores) Six Months Particulars Year ending March 31 1998 Projections 1998 Actuals 1999 Projections 1999 Actuals 2000 Projections 2000 Actuals 1997 Projections 1997 Actuals Sales and other Income PBIDT Interest Depreciati on PBT PAT 621.93 1740.84) (0. When the company started operation of the integrated steel plant after recommissioning of Corex.04) (29. 1995.27.Information Memorandum PROMISE VERSUS PERFORMANCE The details of shortfall in promise vs. 24. 10 each for cash at a premium of Rs. The actual project cost up to March 31.00 78. 40 each for cash at par aggregating Rs. increase in interest during construction and foreign exchange variation also resulted in a cost overrun of the project.50. hot charging systems in Hot Strip Mill were added to enhance the overall capacity of the integrated steel plant to 1.18) (148.00. 1995.57 mtpa.00 725. The commissioning of the plants was delayed due to technological issues.00 0.77) 1093. modifications were effected to the basic design of the main plant and additional plant/facilities like pellet plant. A comparison of promises versus performance is given below: .
50 230. mainly raw material.49 (1.50 265.00 75.08 (24.79) 8. Air Separation Plant (ASP) and boilers of power plant and Energy Optimization Furnace (EOF).52) 17.725 70.54 76.51 - 47.42 0.88) (12.56 5.13 0. the selling prices showed a decreasing trend.74) 12. the cost of project went up substantially adding to the fixed cost component of its finished products.94 22. The main reason for this was depressed steel market scenario with low demand and low selling prices.08 (4.00% Trial prodn.00 70.% Net cash accruals Equity capital Reserves & surplus EPS (Rs. also substantially contributed to a high cost of production.91 3.16 62.50 301.725 214.87 5.61 75.34 8.34 51.01) 5.47 28.00% 87.Information Memorandum (Rs.00% 27.00 75.55 (33.18) 75. The unscheduled stoppages .35 65.77 - .37) 47.00 113.) Book value (Rs) 183.00 161.06 21.49 37.725 41.70 10. Cryogenic equipment such as ASP is not designed for any stoppages and is expected to work with uninterrupted operations for years together.19 214.27 (7. Frequent shutdowns and start up at blast furnace has led to excessive consumption of costly input materials such as coke and furnace oil.725 90.46 37.41 183.37 75.79 101.45) (4.98 46.42) 75.88) (12. competition. energy i.72% 16.71) (14.35) 75.91 25. in crores unless mentioned otherwise) FY 96 Projection Actual Installed capacity (mtpa) Capacity utilization Sales income Other income Total income PBIDT Interest Depreciation PBT Taxation PAT Gross cash accruals Dividends Rate .27 1.60 (7.63 1.58 60.01 2.14 FY 98 Projection Actual 214. reduce cost of production and to improve quality.25 (18. huge expenses at other areas of the plant also had to be incurred because of excessive refractory wear at EOF ladles and tundish and fuel cost for heating of refractory.72) 19. the fixed cost and semi-fixed cost components such as manpower. adversely affected the equipment and the life of refractory lining.66 5.55 19.53 (21.86) 8.46 15. Due to frequent stoppage and start-up.61) (13.81 48.500 76. Frequent stoppages of ASP caused substantial increase in cost of up-keep for the equipment.78 (24.44 9.31 4.78 51.66 75. power and furnace oil increased.45 (12.21% 65.80 76.17 15. blast furnace.35) (13.42) (12.80 14.78 75.00% 261.45 116.13 84.48) 17.96 21.95 7.00 86.37 (4. Due to under-utilization of capacity at iron making and steel making stages and almost no capacity utilization in BRM.12 21.00 (1. lower demand and lower sales realization.28 0.00% 228.86) Due to delay in disbursal of funds by the financial institutions for project completion. which in turn was due to non-availability of working capital.725 80. requires uninterrupted operations.61) (18.500 0. especially at blast furnace.55 (33. Every start up required liquid oxygen to be purchased from external source.e.99 39.89% 293. electricity etc. decrease wastage.00 75. which added to the cost.00 FY 99 Projection Actual 214. with pyro metallurgical equipment and machinery. The shutdown of operations. In view of external factors such as adverse market conditions.80 17.08 (4. the Company took various steps to improve operational efficiency.18) (14.00 49. being an integrated steel plant.89) 19.70 29.00 (2. FY 97 Projection Actual 214.37) 70.42) 17. The plant.45) 5.71) (21.34 29.725 22.00 (2. While the cost of input.37 37.29 4.47 214. The lower capacity utilization was due to non-availability of input materials in time.44 7.29 4.52 9. which was even below the cost of production.
there was an increase in the cost of project estimated at Rs.10 crores for meeting a part of the Rs. 839 crores. Consequent to the change in the configuration of the mill.1 mtpa Sponge Iron/Pig Iron to 0. the new promoters.203 .101. There was also an increase in cost of miscellaneous assets to the extent of Rs. to Rs. 238 crores increase in the project cost as appraised in September 1997.78 - . Public Issue of Jindal Strips Limited In 1992. 12.79.5 mtpa of Pig Iron and to put up a captive power generation unit of 45 MVA based on waste heat of the flue gases from Sponge Iron . 196 crores compared to the previous appraisal of Rs. which blocked working capital and increased interest cost.18 crores. The Company had originally planned to import a second hand mill at a cost of Rs. the Company could not raise the public portion of the additional equity aggregating Rs. As a result. the implementation of the project. The increase was mainly on account of the increase in the interest during construction of Rs.5% Partly Convertible Debentures (PCDs) of Rs.91 crores on the foreign currency loans. the present project expansion is being implemented by the JSW Group. due to shortage of working capital. the Company could commission only the first phase of the project (iron making facilities) by July 1996. 4. The project had suffered a cost overrun from Rs.1 crores. there was an increase of Rs. to enhance capacity from 0. 27.Information Memorandum also resulted in huge inventory of high value items like ferro alloys. 450 crores in July 1994 was revised to Rs. an increase by Rs. increase in trial production losses capitalized of Rs.22 mtpa mill.30 mtpa mill at a cost of Rs. 1035 crores till completion of project in January 2003. 19. the facilities were shut down from November 2000. mainly due to delays in acquisition of land. The reasons for the cost overrun are given below: Revision in September 1997: The first phase of the project (pig iron project) was completed after a delay of 14 months. 35.87 crores to Rs.05 crores. The original cost estimated at Rs. which was scheduled for completion in October 1998.44 crores in the cost of building and an increase in the cost of EOF and SMS primarily due to increase in the cost of building from Rs. 12. 688 crores in September 1997. The project cost was reappraised in September 2001 to Rs.17 crores. The second phase of the project (steel making through 30 tons of EOF and steel finishing) was delayed due to change in the scope of the project and changes in the specifications of equipment coupled with delays in tying up the required funds for the project. However. capital equipment costs not originally envisaged (electro-magnetic stirrer) of Rs. because of an increase of Rs. with commercial production in April 1996.96 crores and balance mainly on account of the cash losses on sale of the intermediate products. was delayed. the company came out with the rights issue of 77.6 mtpa of Sponge Iron and 0. However. 44. Revision in September 2001: The Company had commenced production from part of the facilities. other pre-operative expenses of Rs.06 crores.1035 crores in September 2001. 839 crores. The Company’s project was originally scheduled for completion in March 1996. 2.12. 450 crores at the time of original appraisal to Rs. Revision in August 1999: Due to the depressed capital market conditions.28 crores consequent to delays in the implementation of the project. The project has witnessed time and cost overrun since inception due to various reasons outlined above. exchange fluctuation of Rs.05 crores. The Company later entered into a contract for 0. 143. 34.08 crores. 360 each for cash at par aggregating Rs. Due to the gap in the means of financing.71 crores and pre-operative expenses and interest during construction by Rs. However. 1035 crores.151 crores mainly on account of additional interest during construction of Rs. 839 crores in August 1999 and finally revised to Rs.108. 25. 46 crores including refurbishing cost for a 0. and executives who have experience in implementing projects in the area. 280.
52 The actual project cost. in crores): Land & site development Building Plant & Machinery Misc.41 19.000 MT 100.000 kwh Utilisation 4% 3% 11% 0. cumulative till 1995-96.719 490 46. not successful for the company. The company. was to be transferred to Submerged Arc Furnace for manufacturing Pig Iron. changed the plan for manufacture of Pig Iron and decided to install 2 Electric Arc Furnaces of 50 tons each for manufacturing Mild Steel. 50% for 1993-94 and 70% for 1994-95 for its new project.000 MT 200.000 MT 100. The actual capacity utilization is as given under: Year Product 1990-91 Sponge Iron Pig Iron 1991-92 Sponge Iron Pig Iron 1992-93 Sponge Iron Pig Iron Mild Steel 1993-94 Sponge Iron Pig Iron Mild Steel Power Unit Installed Capacity MT 100.5% 23% 1% 26% 43% 10% .175 nil 20. was Rs.34 147. the kilns and submerged arc furnaces were expected to be installed by March 1994.79 - .Information Memorandum plant at Raigarh.52 crores. and problems were also faced by other steel manufacturers.757.000 MT 100.68 28. The company expected to achieve a capacity utilization of 30% for 1992-93.89 345. Madhya Pradesh.000 MT 100. The cost overrun was due to the time taken for selection of appropriate equipment on the basis of technical and environment control aspects and price escalation.916 2. 1992.000 MT 200.566 97.36 85.734 513 5.449.82 15.000 30 MW Production 97 75 11.99 2. A comparison of promises versus performance is given below: The cost of fixed assets in the project is as under (Rs.62 355. Installation of kilns of Sponge Iron and 45 MVA power generation facility was completed by the company as follows: Particulars Kilns Turbine Generation # I Turbine Generation # II Turbine Generation # III Electric Arc Furnace I Electric Arc Furnace II Submerged Arc Furnace Actual Date of Completion 21-Mar-91 to 11-Jan-96 23-Mar-92 18-Mar-94 28-Mar-95 23-Feb-93 28-Feb-95 21-Mar-91 As per the plans disclosed in the letter of offer of the company. without having the cooling cycle operation. As per the original plan. however.62 57. Fixed Assets Others Total Planned costs Actual costs 1. therefore.000 MT 200.000 MT 300. Sponge Iron was to be manufactured from the Rotary Kiln (6 kilns each of 0.00 449.79 99.1 mtpa) and the Sponge Iron in hot stage. This technology was. This issue opened for subscription on March 9. The Submerged Arc Furnace installed initially was utilized for manufacturing Ferro Chrome.000 MT 200.
the company came out with the public issue of 19. to set up a project for the manufacture of high pressure.073.613.771 300. The project was completed on 13. thick walled large diameter SAW Pipes. Public Issue of Jindal Saw Limited In 1986.3. This issue opened for subscription on July 7.000 200.80 - .000 45 MW 30.000 500. 1.1987 and commercial production was started. .000 500.970 35.92.000 30 MW 30.380 69.667 kwh 1. The actual capacity utilization is close to the projected figures except for some differences encountered during the process of stabilization of equipment.992 crores.745 7.850 45.Information Memorandum 1994-95 Sponge Iron Mild Steel Power Ferro Chrome 1995-96 Sponge Iron Mild Steel Power Ferro Chrome MT MT MT MT MT kwh MT 400.731 66% 23% 6% 71% 14% 26% Note: Capacity utilisation % has been worked out after considering commissioning period.000 equity shares of Rs.000 204. 10 each for cash at par aggregating Rs.447 78. 1986.
A decree of Rs. … Applicants Vs. has filed an .40. its Promoters or Promoter Group companies.291/together with interest @22. suit. Hindustan Foils Ltd. Promoter Companies Jindal Strips Limited Case No.40.) 86.6) …Defendants Jindal Strips had accepted hundis worth Rs. Hindustan Foil Ltd. 86.15% Facts 1. bonds and fixed deposits and arrears of preference shares. Against JSWHL by employees There is no outstanding litigation against JSWHL by its employees. 86. criminal or civil prosecution. O. Parties Pending Before DRT.291/.40.213 of 2001 Benares State Bank Ltd. New Delhi for Hearing Subject of the Matter Recovery Suit for bills dishonoured by Hindustan Foils. proceeding initiated for offence (irrespective of whether specified in paragraph (I) of Part 1 of Schedule XIII of the Companies Act) or litigation for tax liabilities against the Company. By JSWHL against its employees There is no outstanding litigation by JSWHL against its employees.A.drawn by Hindustan Foils and discounted the same with the Applicant Bank. non payments or overdues of statutory dues. Against Promoter / Group / Associate Companies of JSWHL (A) (1) Sr.81 - . No. No. other than unclaimed liabilities of the Company. • Against JSWHL There is no outstanding litigation and default against JSWHL. (Resp.291/along with interest is sought against Jindal Strips Amount Involved (Rs. institutional or bank dues or dues towards holders of debentures. Jindal Strips Ltd. & Ors. The United Western Bank Ltd.Information Memorandum OUTSTANDING LITIGATION AND MATERIAL DEVELOPMENTS Save as stated herein: • There are no outstanding or pending material litigation. No. its Promoters. Hindustan Foils dishonoured the payment thereof and so the Applicant Bank filed the above recovery suit against both Jindal Strips and Hindustan Foils for payment of the hundi Amount. There are no material defaults. Directors or Promoter Group companies.
27010 of 2004 Jindal Strips Ltd. …Defendants Civil Court. IDCOL had invited bids for forming a JV with in respect of Tangarpada Mines and selected Jindal Strips as its JV Partner. TISCO and VISA had also filed Petitions challenging the selection of Jindal Strips as JV Partner of IDCOL. Hisar for Hearing Injunction Suit - 3. - Sanjay Kumar …Plaintiff V/s.F. Special Leave Petition No.Information Memorandum application for registering itself as a Sick Industrial Unit with BIFR. . ("IDCOL") - The Plaintiff is a shareholder of Jindal Strips and has filed this suit for restraining the company from releasing any payment to other Defendants without adjusting the loss caused by the other Defendants to Defendant No. Jindal Strips Ltd.) 2.I.82 - .R. Jindal Strips Ltd. …Petitioner V/s. has also filed seven suits against Hindustan Foil to recover an amount of Rs. Other companies and organisations viz.1. …Respondents Supreme Court of India for Hearing Joint Venture Partnership between Industrial Development Corporation of Orissa Ltd. The application is presently pending before A. State of Orissa & Ors. Jindal Strips has Appealed against the aforesaid order in the Apex Court. 45 lacs (approx. A Special Leave Petition has been filed pursuant to the Order passed by the Division Bench of Orissa High Court which directed IDCOL to issue fresh advertisement to select a new JV Partner.
The Petitioner has sought review of the said judgment from the Supreme Court. V/s. And Jindal Strip Ltd.2 of 2004 In Review Petition (Civil) No. under Section 11(5) of the MMRD Act. Jindal Strips Ltd.17250 of 2003 In Civil Appeal No. & Ors… Respondents And Jindal Strip Ltd. has filed an Intervention Application as the issues under consideration of the Supreme Court in the SLP were the same as the issues involved before the lower court in a case filed by it. Union of India & Ors. Supreme Court of India I.83 - . No. is identical in nature. I. No. Intervention Application of JSL shall be considered only if review petition is allowed. & Anr. Supreme Court of India for Hearing - - Jindal Strips Ltd. 1957 in relation to Sukhinda Valley / Sukhinda Mines. GMR Technologies & Industries Ltd. State Govt.A. decision to allocate the entire 436.Information Memorandum 4. has filed an Intervener Application in a case filed by Indian Charge Chrome Ltd. Indian Charge Chrome Ltd.9 of 2002. Indian Charge Chrome Ltd.295 hectares in Sukhinda Mines to Orissa Mining Corporation contrary to Chahar 5.2 of 2004 In SLP (Civil) No.6788 of 2004 State of Orissa …Petitioner V/s. on the ground that interest of the Petitioner and that of Jindal Strips Ltd.469 of 2003 In Transfer Case No.A. had challenged the recommendation of the State Government on the ground that no special reasons were recorded for grant of preference to Nav Bharat Ferro Alloy Ltd. …Applicant Supreme Court of India for Hearing Lease of Mines .
Criminal Complaint No. 35 of 1996 under Section 138 r/w Section 142 of the Negotiable Instruments Act.
Jindal Strips Ltd. Vs. M/s. Uniplas India Ltd. & Ors.
MM Patiala House, New Delhi For Evidence
Return of InterCorporate Deposit
50,00,000/as principal amount and Rs. 3,03,780/- as interest
45 of 1995
M.S.T.C. Vs. Jindal Strips Ltd.
4th Court pf Civil Judge (SK Division), Alipur Court
Payment of Charges
Rs. 9.88 lacs
Committee Report which had in turn granted 39.742 hectares to Jindal Strips Ltd. amongst others was struck down by High Court of Orissa. State of Orissa has filed an SLP against the said judgment. Jindal Strips Ltd. had also filed a Writ Petition against State of Orissa for quashing the decision of the State Government to allocate entire area of 436.295 hectors to Orissa Mining Corporation Jindal Strips made an Inter-Corporate Deposit (ICD) of Rs. 50,00,000/- in Uniplas India Ltd. for a period of 90 days. Uniplas India Ltd. issued cheques of Rs. 50,00,000/as principal amount and Rs. 3,03,780/as interest by way of return of the ICD which were dishonoured by the Bankers of Uniplas India Ltd. This complaint was thereafter filed under section 138 r/w Section 142 of the Negotiable Instrument Act. There was an suit filed in 1984 against the Company in which the Plaintiff was granted an Ex-parte Order for payment. The company filed another suit for setting aside the ex-parte order, which is pending.
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Sajjan Industrial Corporation Vs. Jindal Strips Ltd. Sajjan Industrial Corporation Vs. Jindal Strips Ltd.
2nd SubJudge Court (Sr. Div.), Howrah 2nd SubJudge Court (Sr. Div.), Howrah
For Common Postage
No money claim
Claim for Rent
The Plaintiff has filed this suit claiming some rent to be payable by the company.
Note: Some Shareholders have filed 14 Cases in various Courts and Consumer Redressal Forums in India for grievances such as issue of duplicate share certificates, loss in transit and non-receipt of interest warrants. Labour Disputes
Five (5) Cases
State, through Asst. Director, Industrial Safety, Health, Hisar… Plaintiff V/s. R. P. Jindal (Occupier & Manager of M/s. Jindal Strips Ltd.) Defendants
Chief Judicial Magistrate, Hisar for Hearing
Death and Injury to some workers in the Factory
Minimum fine of Rs. 1, 20,000/-
Some workers of the company met with an accident in the factory. A couple of them died and the others suffered grievous injuries. According to the department, there was a violation of Section 7A and 21 of the Factories Act and Rule 66C of Punjab Factory Rules, 1952. The company is disputing the allegations.
Sales Tax Matters
Jindal Strips Ltd. … Appellant V/s. Assessing Authority, Hisar Dist. …Defendants
Joint Excise & Taxation Commissioner (Appeals)
The Dy. Excise & Taxation Commissioner cum Assessing Authority, Hisar passed an order levying total Purchase Tax of Rs. 58,35,057/- upon the Company in relation to store goods, which were consumed in the manufacture of goods, which were sold either in Haryana or in consignment sales outside the State of Haryana. The company disputed the liability on the ground that no tax is to be levied as the percentage of goods purchased from Haryana was the same, which were sold within the State of Haryana. The company has challenged the aforesaid order by filing this Appeal before the Jt. Commissioner (Appeal).
Income Tax Matters
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I.T.A. No.276 of 2003
Commissioner of Income Tax V/s. M/s. Jindal Strips Ltd.
High Court, New Delhi
A.Y. 19961997 This matter is in respect of the liability of Jindal Strips Ltd. The first I.T. returns of Jindal Stainless Ltd. have been filed in A.Y. 200304.
Loss of Rs. 6,47,95,725/ Tax amount of Rs. 2.98 crores
The company has debited an amount of Rs. 6.47 crores to the profit and loss A/c. for the year ending 31.3.1996 on account of fluctuation in foreign exchange rate. The Department has filed the above Appeal in the Delhi High Court challenging the above order dated 17.10.2002 of ITAT, New Delhi.
Investigation by SEBI An investigation has been carried out by SEBI in respect of spurt in prices and volumes of Jindal Strip Ltd. (JSL) during the period April to October 2004. SEBI had written to JSL in November 2004 asking for the company personnel to appear before the investigating officer in respect of an investigation being carried out by SEBI. Certain information asked for by SEBI was provided by JSL in the meeting with SEBI and the remaining information was furnished vide its letter dated January 10, 2005. However, JSL has not received any other communication from SEBI subsequently.
Jindal Holdings Limited
As per the Audited balance sheet of 2003-04, contingent liabilities not provided for in respect of 5,50,00,000 equity shares of Jindal Vijayanagar Steel Ltd. (JVSL) and 669 equity shares of Jindal Iron & Steel Co. Ltd. have been deposited with a financial institution, for financial assistance taken by other body corporate.
(3) • •
Stainless Investments Limited Contingent liabilities not provided for includes total demand raised by the Income Tax department upto assessment year 2001-2002 is Rs.117.34 lacs which is disputed. Non-payment of dues under Gift Tax is as follows: Name of the Statue Gift Tax Act, 1958 Nature of the dues Gift tax demand Forum where dispute is pending 1,17,34,661 ITAT, New Delhi Amount
(4) • •
Mansarover Investments Limited Contingent liabilities not provided for towards disputed income tax liability of Rs. 223.79 lacs. Non-payment of dues are as follows: -
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e) Rs. .44 lacs (Previous year Rs.437 Penalty Imposed by SEBI A sum of Rs. 1961 2. 2004 under amnesty scheme for regularisation of Violation of Regulation 6&8 of (Substantial Acquisition of Shares & Takeover) Regulation 1997.15. Rs.56.960 ITAT.65.78.000/.I.807 ITAT. 287.83.05 lacs equity shares of Haryana Concast Ltd from H. 175. Income Tax Act. Ltd with Deutsche Bank as safe custody of credit facility granted to Jindal Tractable Ltd. Name of the Statue No. Income Tax Act.217 2. b) The Company has given 1376677 equity shares of Jindal Iron & Steel Co.31. • Non-payment of dues are as follows: Sr.1293. 743. 1. 1958 Nature of the dues Income tax demand Gift tax demand Forum where dispute is pending 5. • Non-payment of dues are as follows: Sr. Gift Tax Act.99 lacs) b) Rs. 1961 Income tax demand Income tax demand 1.55 lacs of dividend on 10% Redeemable Cumulative Preference Shares not provided. Name of the Statue No. 2004 Contingent liabilities are: a) Outstanding disputed income tax and gift tax liability of Rs. New Delhi 47.48.has been paid on October 20.488 ITAT New Delhi Amount (6) Nalwa Investments Limited Contingent liabilities not provided: a) Disputed income tax Liability Rs. 1961 3. Gift Tax Act.25. 1. 399.C. f) In respect of bid for 63. for which no provision has been made. Ltd with the various financial institutions/banks as security for financing facilities extended to Jindal Vijayanagar Steel Ltd d) The Company has pledged 1047068 equity shares of Jindal Steel & Power Ltd with ICICI/IDBI as security for financing facilities extended to Jindal Steel & Power Ltd.738 ITAT New Delhi 1. New Delhi Amount (5) • Jindal Equipment Leasing and Consultancy Services Limited As per Audited Balance Sheet of March 31. 1961 Income tax Act. 212.21. New Delhi 61.87 - .83 lacs.Information Memorandum Sr. Name of the Statue Nature of the dues Amount Forum where dispute is pending CIT (Appeals) New Delhi ITAT New Delhi Income tax Act. 715.75 lacs Cumulative arrear of dividend on 10% Redeemable Cumulative Preference Shares. c) The Company has pledged 4900000 equity shares of Jindal Vijayanagar Steel Ltd & 669 sares of Jindal Iron & Steel Co. No. 1. 1961 2. 2.S.D.34.15.00 lacs. Income tax Act.88. 1958 Nature of the dues Income tax demand Income tax demand Gift tax demand Forum where dispute is pending 1.730 CIT (A).
Ltd. Parties Pending Before Subject of the Matter Amount (Rs.02 58.000/.) Facts Case No.16.. The reduction of price is being disputed by Jindal Saw Ltd.09. No. (GAIL) Delhi High Court Appeal against Arbitration Award Rs. with I. a) b) c) d) e) f) g) Particulars Counter Guarantee given to company’s bankers for Guarantee given by them on behalf of the Company Letter of Credit Outstanding (net of liabilities provided in the books) Claims against the company not acknowledged as debt (being under dispute) Guarantees given to Bank for Credit facilities to Jindal Enterprises LLC (Wholly Owned Subsidiary Abroad) Disputed Excise Duty Liability in respect of Corporate Guarantee (for 100% EOU Unit at Mundra) Bank Guarantee given to Custom Authority for export obligation for export under EPCG Scheme Rs. for credit facility granted to JSPL.88 - .2004 are in respect of: Sr. Vs.has been paid on October 20. . No. 175. Case No. The Arbitrators have passed Award in favour of Jindal Saw Ltd.I.53 lacs Cumulative arrear of dividend on 10% Redeemable Cumulative Preference shares.264 of 2003 Jindal Saw Ltd. b) The company has pledged 2.I. in crores 229.02 0.87 4. Penalty Imposed by SEBI A sum of Rs.360 equity shares of Jindal Steel & Power Ltd.752. and the same has been challenged by GAIL. 48 crores (approx. Gas Authority of India Ltd.35 429..16 20.) This case relates to the application of Price Reduction formula by GAIL pursuant to the delay in supply of pipes by Jindal Saw Ltd. 1. (8) Jindal Saw Limited Contingent liabilities not provided for as on 30. 2004 under amnesty scheme for regularisation of Violation of Regulation 6 & 8 of (Substantial Acquisition of Shares & Takeover) Regulation 1997.C.00 Civil Matters Sr.Information Memorandum (7) Abhinandan Investments Limited Contingent liabilities not provided: a) Rs.C.
under a contract for supply of pipes. Vs.Information Memorandum 2. Vs. The reduction of price has been disputed by Jindal Saw Ltd. SDJV. The Arbitrators have given the Award in favour of the Jindal Saw Ltd. - M/s. Dhaka on false and frivolous grounds.89 - .100 2 of 2002 M/s.862 of 2002 M/s. Jindal Saw Ltd. Arbitration Penalty for delay in supplying pipes Rs. Suit No. ONGC has challenged the Award before the High Court.83 crores 3. Jindal Saw Ltd. Jindal Saw Ltd. Bharat Petroleum Corporation Ltd.58 5. Arbitra tion Petitio n No. .292 of 2003 M/s. ONGC has challenged the Award before the High Court. Bangladesh attempted to invoke the performance Bank Guarantee for USD 705698 issued by Canara Bank through Bank of Nova Scotia. This case relates to the dispute relating to the applicability of foreign Exchange rates on payments made by ONGC to Jindal Saw Ltd. (ONGC) Bombay High Court Appeal against the Award of the Arbitrator 1. Oil and Natural Gas Corporation Ltd. Vs. 1. Oil and Natural Gas Corporation Ltd. SDJV. Bangladesh Delhi High Court US$ 705698 This matter relates to the application of price reduction formula applied by BPCL pursuant to the delay in supply of pipes by Jindal Saw Ltd. (ONGC) Bombay High Court - US$ 60224. The reduction of price has been disputed by Jindal Saw Ltd. The Arbitrators have passed Award in favour of the Jindal Saw Ltd. Vs.12 crores 4. This matter relates to the application of price reduction formula applied by ONGC pursuant to the delay in supply of pipes. Appeal No. Jindal Saw Ltd.
Jindal Saw Ltd. had supplied pipes to HPCL. Jindal Saw Ltd.178 of 1990 United India Insurance Company Ltd. which were transported by CCI under separate agreement with HPCL. Thereafter. Case No. United India Insurance has filed the case at Visakhapatnam for recovery of claim amount from CCI alleging their negligence in transporting the pipes. Govind Ram Agarwal Vs. respectivel y The High Court has granted permanent injunction against Canara Bank. HPCL filed its insurance claim and got the money.90 - . The Complainant has alleged deficiency of services in transferring the shares that were lodged by the Complainant for transfer. Case No 209 of 2004 and Appeal No A415 of 2003 Sidhanath Saxena Vs. It has made JSL as party proforma as supplier of these pipes. District Forum. CCI & Jindal Saw Ltd. Jindal Saw Ltd. Jindal Saw Ltd. During the course of transportation some damage was done to pipes. Dhaka has filed and application against the injunction. Lucknow and State Commissio n. Vs. The Bank of Asia Ltd. which alleges to be the successor of Bank of Nova Scotia.Information Memorandum 6. contends that all rules and regulations have been observed while transferring the shares and also that the Consumer Forum had no . 2nd Additional District Judge at Vishakapat tam No relief has been sough against the company 7.
P.P. Mundra Environm ental Pollution The Pollution Board alleged that Jindal Saw Ltd.T.31 by Jindal Saw Ltd. Jindal Saw Ltd. 1. Jindal Saw Ltd. Under a Notification an amount equal to 20% of Basic Value of own material consumed in execution of Work Contract is stipulated to be taxed.E. The provisions of Section 15 A (1) (0) of the U.600 The Add. Assessing Authority Trade Tax Vs.Y.P.T Act 1948 for escapement of Tax. High Court. for carrying out job work. 1995-96 Rs. The Assessing Authority imposed 10% tax on value of Company's own raw material consumed in execution of Works Contracts under Section 3-F (2) (b) (1) of U. Jindal Saw Ltd.940 3. 1991-92 Rs.83.Y. According to the Board this is in violation of the Environmental Impact Assessment Notification 1994. Commissioner has reopened this matter Under Section 21(2) of the U. High Court Allahabad A.Y.11. on F. This Appeal has been filed by the Department against Jindal Saw Ltd. This matter relates to the imposition of interest on tax deposited by Jindal Saw Ltd. 5.42.T. Jindal Saw Ltd. A. 1997-98 Rs. 1997-98 Rs. This case is in relation to the import of material from M/s P. Other Indirect Taxes Matter 1. 1.Y.91 - . variation. Assessing Authority Trade Tax Vs. . Allahabad A.T Act 1948. Assessing Authority Trade Tax Vs. Assessing Authority Trade Tax V/s Jindal Saw Ltd. & Ors First Class Judicial Magistrate.J Pipes Mumbai without Form No.906 4. 3.T.T Act 1948 are attracted which stipulates penalty up to 40% of value of material so imported. had undertaken substantial contraction of plant and blast furnace without obtaining prior environmental clearance. Criminal Offences 1.Information Memorandum jurisdiction to try the matter. is disputing the above matter. Criminal Case No 416 of 2004 Gujarat Pollution Control Board Vs. Jindal Saw Ltd. Deputy Commission er (A) Kosi Kalan.694 2.66. High Court Allahabad A.
159. Mumbai for Hearing Assessment Year 2000-01 592.08 lacs Addition of notional interest on security deposits received while computing income from house property and disallowance of interest. The ITAT. 1502. Jindal Saw Ltd. Versus Comm. & 400 equity shares of Jindal Steel & Power Ltd for which the company had to write off the shares & pay dividend received by it of Rs. Jindal Saw Ltd. ITAT. Mumbai has heard the Appeal and decided in favour of the Company. Disputed tax demands Rs.40 lacs . of Income Tax ITAT.16. Assessment Year 1997-98 and 1998-1999 Addition of notional interest on security deposit received while computing income from house property and the disallowance of interest.42 lacs. Versus Comm. However.584 has not been acknowledged as debts in view of misappropriation of shares of the company. (10) Gagan Trading Company Limited Contingent liabilities not provided for as on March 31.20 Chargeability to Wealth Tax u/s 4 lacs and Rs. property of the company. Dividend on preference shares Rs.Information Memorandum 5. Mumbai Assessment Year 1998-99 Gagan Trading Company Ltd.92 - . respectively the CWT (Appeals) upheld the Assessing Officer’s contention. 2004 include: 1. b) The company has lost the case of misappropriated shares for 600 equity shares of Jindal Strips Ltd. 567. the company is in the process of filing appeal to ITAT on the other issue of interest disallowance.84 lacs. On further appeal. Current Status of Tax Demands Gagan Trading Company Ltd. (8)(b) of the Wealth Tax Act of the 184. of Income Tax Gagan Trading Company Ltd. Supreme Court of India This matter relates to the applicability of Form 3 B and C. Rs. On appeal.16 lacs. 2265. had purchased HSD (High Speed Diesel from Indian Oil Corporation Ltd) and this case relates to purchase of HSD against Form 3 B and C (9) Colorado Trading Company Limited Contingent liabilities not provided for in respect of: a) Dividend receivable of Rs. Assessing Authority Trade Tax Vs. 2. Mumbai has decided in favour of the Company. On appeal. Versus Comm.3. the CIT (Appeals) has decided the matter relating to the addition of notional interest in favour of the company. Of Wealth Tax ITAT. 578.000.
2004 pertained to dividend on preference shares (pro-rata) amounting to Rs. Ltd.Information Memorandum Assessment Year 2002-03 Rs. The petitioner filed this writ contending that the same was not required. which is yet to be decided.56. the CIT (Appeals) upheld the Assessing officer’s contention. which is yet to be decided. 20 lacs. Of Customs Delhi High Court and shall come up for hearing in due course Customs duty on BMW Car imported in the year 2002 Nil The Comm. No. As on March 31.92 Lacs Addition of notional interest on security deposit received while computing income from house property and the disallowance of interest. 20. 8090 of 2003 Gagan Trading Company Ltd. of Customs issued a notice under Central Motor Vehicles Rule 126A for nonsubmission of homologation certificate.) Facts Writ Petition No. Contingent liabilities not provided for as on 31-03-2004 related to Disputed Income Tax Demand of Rs.56 Lacs (12) • • Vrindavan Services Private Limited Contingent liability not provided for as on March 31. Versus Union of India. (11) Sun Investments Pvt. The Company is in appeal to Income Tax Appellate Tribunal. The Company is in appeal to CIT (Appeals). 1 The demand had arisen due to disallowance of set off of brought forward loss of earlier year. 2 1993-94 Rs. The Company is in the process of filing an appeal to the CIT (Appeals). there was a default relating to interest on OCDs amounting to Rs. On appeal.25 lacs.111 Lacs as detailed below : Assessment Year & Amount of Demand 1991-92 Rs. (13) Reynold Traders Private Limited . Director General of Foreign Trade (DGFT) and Comm.93 - .431. 2004.54. Parties Pending Before Subject of the Matter Amount Involved (Rs. Current Status of Outstanding Litigation Case No. The demand had arisen due to disallowance of loss on renunciation of Rights shares.29 Lacs Details & Current Status Sr.
State Sales Tax Dept. 6.20 5. Board of Revenue Surcharge imposed and less set-off allowed Rs. 46. Jindal Steel and Power Ltd.30. 199798 2. 42. (B) Promoter Group Companies (1) Jindal Steel & Power Limited Contingent liabilities not provided for as on March 31.000/. Jindal Steel and Power Ltd.000/.396/. 199899 3.Y.for the A.14 Lacs has arisen due to levy of penalty u/s 271(1) (c) on addition made by the Assessing Officer due to disallowance of interest expenses claimed by the Company. 4. Vs.76 36.against the amount demanded.Y. 2000 the Dept. Crores 459. 2004 are in respect of : Sr.75. Vs.58. 82. a) b) c) d) e) f) Particulars Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances) Guarantee’s issued by the Company’s bankers on behalf of the Company Letter of credit opened by banks Disputed Excise duty and other demands Future liability on account of lease rent for unexpired period Bonds executed for machinery imports under EPCG Scheme.000 against the amount demanded. Vs. Rs.Information Memorandum Income Tax Demands For Assessment Year 2000-01. No. 1. The company has already deposited a sum of Rs. Board of Revenue Denial of benefits for New/Addl. The company has already deposited a sum of Rs.against the amount demanded.28 Sales Tax Matters: Sr No Parties Pending Before Subject of the Matter Amount Involved (Rs.) Facts 1. The company has been denied benefits on its new/additional products manufactured by it. Board of Revenue Denial of benefits for New/Addl.02 208. Products produced Rs.Y. Products produced Rs.58 7. State Sales Tax Dept. State Sales Tax Dept. 20002001 The Company has been denied benefits on its new/additional products manufactured by it.38 14.20.946 for the A. The Company has already deposited a sum of Rs. Jindal Steel and Power Ltd.94 - . has passed an Order in the favour of the company. . The Company is in the process of filing an appeal to CIT(Appeals) against the order.340 for the A. By an Order dated April 29. a demand of Rs.
Comm.55 crores 2.12*Adjourn 28.05 .06.1998 after the Finance Act amendment in 2003. Other Excise Matters Case Ref. Jt. The Department has imposed duty on Ladle Transfer Car by treating it as an item falling under heading 86 instead of 84.03 installed within the factory.697 1658 3. A case of difference of book Reply sent ON 29. 3949 1.1. the modvat Replied on 4/7/96 – No PH document does not appear to be genuine.697 Asst Commisioner Excise Asst Commisioner Excise Asst Commisioner Excise Asst Commisioner Excise Asst Commisioner Excise Asst Commisioner Excise To the department.00 crores under protest.03 **PH goods relating to power plant 25. has imposed a duty of on two (2) Induction Furnaces for the period April 1. 2000.Information Memorandum Central Excise Matters Sr No Case No.12. Parties Pending Before Subject of the Matter Amount Involved (Rs.04*ph Commisioner M/s NKK Corporation Japan 18.11..7*27.9.45 lacs The Dept.874 2661 483.03 ** PH goods relating to power plant 5.177.03. Modvat credit on capital PH over on 20/2/2001.679 1287 241. Asst Service tax on the services of Reply Sent 27. Vs. of Central Excise Vs.220.03 installed within the factory This case relates to service tax Reply sent on GTO service 01. The company has already deposited the amount. goods. Writ Petition Jindal Steel and Power Ltd.7. Chattisgarh Payment of Duty 1. Comm. Raipur Classificati on for imposition of duty 7.95 - . of Central Excise High Court. 1. The matter had been appealed in the CESTAT by the company against the Order passed by the Comm. Cenvat Credit on capital Replied on 11.10.02.012 Cenvat Credit on capital Replied on 14. The company has paid an amount of Rs.11.03 stock and physical stock taken by the department. 1998 to March 31.1998 to 17. Jindal Steel and Power Ltd. Amount (Rs) Pending Before Description of the Case Present Status 1993 179.400 2300 37.) Facts 1.12 . V(CH86)15264/R/P R/JC/200 4/ADJ/51 88 Comm.772 9053 381.
M/s HPCL.Information Memorandum Excise 4558 473.593 Asst Commisioner Excise Add. Commissioner Excise 21164 4.7.04 coalmine. This is to be reversed. The matter has been referred to High Court.297.259 1489 2.2004 rails and concrete sleepers and allied goods used in the factory This relates to demand of duty Replied on 10.02 denied by Commissioner. Commissioner Excise Add.644 1005 Add. Commissioner Excise 492 4.840 that we have taken in Japan itself (off shore service). Department has filed a Dept – Appeal – HC – PH petition before High Court 4.04 on some old and used goods from factory to Nalwa Sponge. Cenvat credit as inputs on Reply sent on 20. Cenvat credit on Hot metal Reply sent on 1.726.05 concrete sleepers and allied goods used for laying railway track in the factory.5.058 1303 1.02-NOT HELD against order of CEGAT.96.2. Ref APPL – High credit on refractory materials Court to us.05 Engineering Company of Germany. Jumbo Electric Platform truck as inputs and Ladle transfer car as capital goods. Service tax on Engineering reply sent on 28.606 High Court Bilaspur 19103 2187 Chief Commissioner Excise 6.31. Dept disputes that this item would be capital goods .037.832 Add. We have HC BSP also filed a writ petition before High Court.527.417 3955 15.4.042.9.000 Add.131.05*ph Study (Audit) by an 18.98 to 1. Department proposes to Reply sent on 30.702 20755 2.04 transport vehicle.6. This case refers to deficiency OIO Received – full in the document of the Disallow –Appl to be filed supplier of the goods.756 Appealate Tribunal Raipur High Court Bilaspur 1077 43.11. Cenvat credit as inputs on Reply sent . Remission of duty PH held 22. CEGAT allowed modvat DEPT.03. Commissioner Excise 27.04 include the amount of volume discount on freight availed from Indian Railways in the assessable. Commissioner Excise Add.4. which stands in our favour. Cenvat credit taken on Reply sent on 11.96 - .451 23446 717.2. Commissioner Excise 4169 4.03 Graphite Electrode as inputs.12. Service tax on GTO service Replied 22. Commissioner Excise Add. Sponge iron burnt in the year CEGAT Remand to CCE 2000. Cenvat on explosive used in Replied .8.01 * WRIT for 18.104.22.168.3.061 Chief Commissioner Excise 346.002.
) pertaining to transfer of CENVAT credit for JSL to JSPL and classification of goods under an input chapter different from the one declared by the company.97 - .79 5.Information Memorandum 953 3.13 lacs (approx. 3) The Gram Panchayat has served a notice upon the company imposing Local Body Tax of Rs. a) b) c) d) e) f) Particulars Counter guarantee given to the company’s bankers for the guarantee given by them on behalf of the company Letter of Credit outstanding (net of liability provided for in the books) Bill/cheques purchased / discounted by bank under BP/BD limit Claims and other liabilities against the company not acknowledged as debt Sales Tax against which company has preferred appeals Disputed Excise Duty Rs.26 3.05 appeal pending in CESTAT. 0.) against which the company has already deposited an amount of Rs.50 lacs (approx.1.Y.Y.511. This is to be reversed. 3. 2) There are Central Sales Tax matters pertaining to A.05 Tribunal Delhi components/accessories (Chapter 84 vs Chapter 73) fabricated within the factory for captive use.21 127.03.104 3081 4576 2623 APPL*PH Appealate Classification of steel DEPT 09.05*29.4. 4) The company has been served with two (2) Show Cause Notices from the Commissioner of Central Excise. 66.93 254.938 Appealate Cenvat on explosive used in DEPT APPEAL ** PH Tribunal Delhi coal mine. 3.PH held Commissioner Graphite Electrode as inputs. 2000-2001 and A.4. Excise 981. Departmental 5. 8.31 Civil Matters: . 17/7/02 Excise Dept disputes that this item would be capital goods Notes: 1) There are some Entry Tax matters filed against the company.745 Joint Cenvat credit taken on Reply sent.32 lacs (approx.2004 are in respect of : Sr. A.39 lacs (approx. (2) Jindal Stainless Limited Contingent liabilities not provided for as on 31. 1999-2000. 7. The aggregate amount demanded is Rs.) against which the company has already deposited an amount of Rs. in Crores 34.011.323 Joint Dispute relates to modvat PRE-OBJ.03.319. 1. The company is disputing the levy. No.06 5. 2002-03 against the company for imposition of interest and penalty arising due to change of name of the company and non-submission of E-1 certificate respectively.05 *4.).74 lacs (approx.Y. Raipur for an amount of Rs. 592.-20/9/94-NO PHCommissioner credit on capital goods. which in aggregate amount to a demand of Rs.).
yd. V.e. Jindal Stainless has disputed its liability and has filed this suit for declaration and an injunction restraining the Municipal Corporation from raising the demand for development. HVPNL has filed this Appeal. on account of the freight paid for the . Civil Court. Supreme Court of India Service Tax .Information Memorandum Parties Pending Before High Court.000/- Municipal Corporation (Hisar) Vs Jindal Stainless Ltd.259/on account of the services provided by goods transport operators i. Union of India & ors. Jindal Ltd. Jindal Stainless Ltd. 49. Hisar had made a demand for development charges in respect of a club constructed by Jindal Stainless Ltd. Jindal Stainless filed an Appeal in the Delhi High Court challenging the order of dismissal of the suit. New Delhi Subject of the Matter Suit dismissed as infructuous. filed the present suit for declaration that it is not liable to pay any amount under the L/C and also for a Permanent Injunction restraining ICICI Bank from making payment of the L/C amount to KBC Bank N. ICICI Bank opened letter of Credit of US$4. Vs.For the period 22.214.171.124 The Excise Department has levied Service Tax @ 5% on Rs.5 Acres of land from HVPNL which is situated between its two factories. Writ Petition No. Hisar LAND 15.6.) Potential liability of USD 4.Jindal Stainless Ltd. Facts Haryana Vidyut Prasaran Nigam Limited (HVPNL) Vs Jindal Stainless Ltd. was the negotiating Bank. ICICI Bank KBC Bank N. Civil Court.23.98 - . V.1998 Rs. 120/per sq.1997 to 1. KBC Bank N.500/alongwith interest.71. had acquired 2.in favour of Surya Impex. HVPNL cancelled the allotment. An Interim Order has been passed in favour of Jindal Stainless and the Municipal Corporation has filed an Appeal challenging the above interim order which is pending in the Court. 9.44. subsequently. Amount Involved (Rs. filed a suit for specific performance and obtained a decree in its favour.48.606 of 2002 Jindal Stainless Ltd. The Municipal Corporation. KBC Bank N. in its factory premises @ Rs. Jindal Stainless Ltd. Hisar for Hearing Development Charges Upon instructions of Jindal Stainless Ltd. negotiated the Letter of Credit on the basis of forged and fabricated documents and inspite of requests from Jindal Stainless released payment to the holder in due course.V. V. However. New York Branch And Surya Impex. Excise and Service Tax Matters 1. Stainless V/s.00.500/.
Appeal/Delhi – III/45/2001 Central Excise Commissioner Vs. The company replied to the Show Cause Notice and Asst. A/380387/2001 – NB(D) (Eight Appeals) (Northern Bench) Commissioner of Central Excise Vs.1997 to 1. CESTAT has by its order remanded all the eight matters back to the adjudicating authority for reconsideration of the entire matter in view of latest judgment of Supreme Court in Jawahar Mill’s case. Refractory items etc. November and December. Commission er (Appeals). 1995 June. The Department has levied Modvat Credit on capital goods namely electrical goods.99 - .6. 1996. The company has paid the amount of Rs. Gurgaon Modvat Credit on capital goods For the period April. Commission er. 1996 to July.Information Memorandum 2. Before Central Excise. Commissioner decided the case in favour of the Company. The company has disputed its liability on the ground that the incidence and liability of such tax rests on the person providing taxable service and also that the demand was raised retrospectively by the Department.11. 1996 Rs. the Department .71. 1996. Jindal Stainless Ltd. 57. 1994 January. 49.14. Rs. Being aggrieved.163/under protest. electric items. The Department has levied Modvat Credit on capital goods namely Electrical and Machinery items and issued a Show Cause dated October 23. Rohtak for Hearing For the period September.1998. Jindal Stainless Ltd.998 period from 16.188 (in all Eight Appeals) 3. 1995 to May. 49.05. 1996 to March.
2000.003/- filed Appeal before Commissioner (A) and the same is pending. The Department has levied Modvat Credit on capital goods namely Wires and Cables. The case was held against the Department and subsequently the Dept. The Company filed a Reference Application before the High Court against the order of CESTAT on Capital goods namely: Brass Casting Articles. 19.69. 2004 to June. Commission er (Appeal). The Department has levied Modvat Credit on capital goods namely Refractories and Refractory items. Jindal Stainless Ltd. 78. High Court directed CESTAT to refer whether brass casting articles come within the ambit of definition of capital goods under Rule 57Q of the Central Excise Rules. Gurgaon Rs. Rohtak Commission er of Central Excise.2004 issued by Commissioner of Central Excise.12.000/- 6. filed an Appeal before the Commissioner (A) and the same is pending. - Show Cause Notice C. 1944 for its opinion vide an Order dated November 9. Jindal Stainless Ltd. 21. Rohtak Modvat/ Cenvat credit For the period January.100 - .33. The company had entered into agreement with State Electricity Board (SEB) for supplying power generated by it to the SEB Grid and also for selfconsumption. No. 2004 Rs. IV (HQ)361/Tech/Jind al/D-V/04/14357 dated 28.000/- 5. High Court.Information Memorandum 4. - Central Excise Commissioner Vs.06. The Department has alleged that the company is supplying power . - Central Excise Commissioner Vs. Delhi Modvat Credit Rs.
New Delhi (5) Jindal Seamless Tubes Limited Contingent liabilities not provided in respect of Show Cause Notice issued by Central Excise Department for raising a Demand Draft of Rs. Non-payment of dues is as follows: Name of the Statue Income tax Act.161 Forum where dispute is pending CIT (Appeals). 1961 Nature of the dues Income tax demand Amount 10. (6) Brahmputra Capital And Financial Services Limited Non-payment of dues is as follows: Name of the Statue Income tax Act.869 Forum where dispute is pending ITAT. New Delhi Amount .636/-.101 - . New Delhi (4) Renuka Financial Services Limited Non-payment of dues is as follows: Name of the Statue Income tax Act.748. 1961 Nature of the dues Income Tax Demand Forum where dispute is pending 1.Information Memorandum only to SEB and therefore not entitled for Modvat/Cenvat credit of the duty paid on the fuel used for generation of power for selfconsumption. The company is contending that the agreement was entered into to ensure that the power generated was put to the optimum use and therefore allowed to claim modvat credit (3) Manjula Finances Limited Contingent liability not provided for : Arrear of Preference Shares Dividend Rs.ITAT.58.719/.45. 1961 Nature of the dues Income tax demand Amount (Rs) 80.23. 12.81. 3.
3. 2004 relate to Income tax demand disputed in appeal pertaining to assessment year for Rs. 10. 1. a demand of Rs. a demand of Rs. The demand has arisen on account of interest disallowance by the assessing officer. 2004 related to disputed Income Tax demand for Rs.43 lacs has arisen due to recomputation of Capital Gains considering a higher sale value by the Assessing officer.(Previous Year 28.915/. (12) Naman Enterprises Private Limited Contingent liabilities not provided for as on 31-3-2004 comprised of dividend on Cumulative Preference Shares amounting to Rs.55.085. a demand of Rs.102 - .32 lacs. 197.23. the CIT (Appeals) has upheld the disallowance. Contingent liability not provided for : Arrears on fixed Cumulative Dividend on preference shares Rs.Information Memorandum (7) Gagan Sponge Iron Private Limited Contingent liability not provided for : Arrears of Cumulative Preference Shares dividend Rs.15 Lacs has arisen due to recomputation of Capital Gains considering a lower purchase cost by the Assessing officer. • (10) Kamshet Investments Private Limited Income Tax Demands For Assessment Year 2002-03.15. (11) • Musuko Trading Private Limited (MTPL) Contingent liabilities not provided as on June 30. .62 Lacs has arisen due to disallowance of Website Development expenses incurred by the Company. On appeal. On appeal.750/.92 lacs. The demand has arisen on account of add back of interest payable amounting to Rs.(Previous Year 24. The Company has filed an appeal to CIT (Appeals) against the order. (13) Sapphire Technologies Limited Income tax Demands For Assessment Year 2002-03. the CIT (Appeal) has deleted the addition and the matter stands decided in the Company’s favour.15. The Company has filed an appeal to CIT(Appeals) against the order.22 lacs. The Company is in appeal to ITAT and the matter is pending. The Company is in the process of filing an appeal to CIT (Appeals) against the order. which the Assessing Officer had treated as no longer payable.220) (8) Opellina Finance & Investment Pvt.3. 1.70 lacs. Ltd. 81.032/-) (9) • Baltimore Trading Private Limited Contingent liabilities not provided as on June 30.71. 41. For Assessment Year 2002-03.
Karnataka Electricity Regulatory Commission (KERC) came into existence KERC reduced the contractual rate for supply of electricity and also held that JTPCL was a Captive Power Plant and not an Independent Power Plant. Pursuant to Karnataka Electricity Reforms Act. 10890. 24. 1999. JVSL has provided security in favour of the Company’s lenders by way of pledge of their investments in the shares of the Company for Rs. 2. 2000 for supply of power. Security provided to Banks/Financial Institutions by way of pledge of shares of Jindal Vijayanagar Steel Limited (JVSL) against credit facilities extended to JVSL for Rs.103 - .) Nil Facts Karnataka Electricity Regulatory Commission (KERC) Versus Jindal Thermal Power Company Limited & Ors. (JTPCL) The Govt. JPTCL entered into a Power Purchase Agreement with KPTCL in November. Similarly. of Karnataka had granted permission to JTPCL for selling power directly to industrial units and the balance to KPTCL.95 lakhs. 14449.23 lakhs. No. Parties Pending Before Supreme Court of India for Admission Subject of the Matter Modification of Power Purchase Agreement (PPA) Amount Involved (Rs. Outstanding Litigation Sr.30 lakhs.Information Memorandum (14) Jindal Thermal Power Company Limited Contingent liabilities not provided for as on March 31. net of Rs. JTPCL filed an .72 lakhs claimed by the Company towards rebate for prompt payment on another loan from the same Financial Institution. 2004 1. 1 Case No. 573. Claim by a Financial Institution against the Company disputed by the Company (Power Finance Corporation Limited) on the ground that the same is not due in terms of the loan documents and not acknowledged as debt of Rs.
sales tax. Karnataka High Court.01 149. income tax and other levies (excluding interest) Rs. 2. Particulars Claims against the Company not acknowledged as debts Bills discounted Disputed claims including those pending in Courts for excise & custom duties. Tax Matters 2. Jindal Thermal Power Company Limited (JTPCL) Versus The Deputy Comm. Parties Pending Before Subject of the Matter Amount Involved (Rs.7 lacs.71 crores i. KPTCL has filed this appeal before the Supreme Court against the Order of the Karnataka High Court.) Facts appeal against this order before the Karnataka High Court. 4. levied interest u/s 234B and 234C of the Income tax Act. Bangalore for Arguments For the Assessment Year 2001-02 & 2002-03 0. (15) Jindal Vijayanagar Steel Limited Contingent liabilities not provided for as on March 31. in crores 5. An interim stay has been granted in favour of JTPCL upon depositing Rs. No.104 - .e. accident at the COREX-I site in July 2002 and compensation claims aggregating to Rs. Case No. which set aside the order passed by KERC. 55 lacs with the Court. JPTCL has filed this writ petition against the levy of interest as also the validity of the retrospective operation of the amendment carried out to section 115JB of the Income Tax Act. No. the Net Tax Liability (after adjusting refunds and payments) The Tax Dept. . 3. 2005: Sr. of Income Tax & Anr.84 Labour Cases There are six (6) labour related matters against JVSL for issues such as dismissal from employment.81 487. 1.Information Memorandum Sr.
The parties have gone on appeal for enchancement of compensation against the land acquisition-Trial going on.27 lacs. as we have paid the ex-gratia to Shri. Bellary High Court of Karnataka 200000 300000 O. The petitioners have filed a case for compensation for the tamarind trees. 16 / 2000 @ 91 / 2002 Parties Uppara Hanumanthapp a & another Vs Asst.e. 17 / 2000 @ 92 / 2002 C. Sandur 210000 Since there was a dispute between the parties. Yarabanahalli Vs The General Manager (A&LA). 3111/2002 Addl.60 lacs.R. 2.105 - . Civil Judge (Sr.Information Memorandum Provident Fund cases There are 10 (Ten) matters pending before various provident fund authorities/court regarding payment of provident fund contributions by JVSL pertaining to contract employees amounting to Rs.J.4/2005 Smt.Bheeman Gouda and Sri. Bly & JVSL JVSL Vs Smt. which were their during the acquisiton of landTrial going on. 30.Dvn) & JMFC. LAC No. JVSL is one of the respondents Debt Recvery Tribunal.Shankar Reddy Pending before Addl. The plaintiff is claiming 100% ex-gratia (i. Bellary Subject Parties have awarded enhanced compensation by the court Parties have awarded enhanced compensation by the court Civil Revision Petition filed against the Decree passed by Bellary Court regarding Tamarind Tree Compensation. Rs. Jindal Vijayanagar Steel Ltd.Gouramm a/ Shri.P. Civil Judge (Sr. 3109/2002. Bellary Steels & Alloys Ltd Vs IT Dept.Nos. 200000 Status The parties have gone on appeal for enchancement of compensation against the land acquisition-Trial going on. Rudramma. we have paid the ex-gratia as per the orders of Asst. Original application No. JVSL is a debtor of Bellary Steel and has been served with a garnishee notice for an amount of Rs.The Trial has Commenced in the court. Bellary. Commr & LAO. Civil & Other Cases Case No. LAC No.S.Dvn) & CJM.. Hosagerappa of Kudithini based on the orders of Asst. 30. Commr & LAO. RoranagalluL Civil Judge (Jr. K. Bangalore 3006000+ interest High Court of Karnataka for hearing Reopening of Assessment by the Department 2. Commr. 3110/2002. Recovery of loan with interest Amt.10.190/03 Writ Petition 10713/200 4 SBI & others VS Bellary Steels & Alloys Ltd & others in which JVSL is one of the respondents.17 crores The matter has been filed by banks seeking various sums from Bellary steel and others. Bellary Steel has filed the Writ Petition to Stay Income Tax Department Notice reopening the assessment for the Assessment Year 1997-98 . Bly & JVSL Gavisiddana Gouda Vs Asst.000) to herself. Bellary who is the Revenue Authority.Commr.Dvn) & CJM.
The Claimant was required to supply certain quantity of limestone to JVSL under a contract. 538 of 1999.450 (for cost and interest for demurrage) and claiming Rs. No. Remarks 323 C / 1 Kurekuppa Chikka Basappa.90 crores (approx.) Nil Facts The Dy. Bellary has initiated criminal . No.family dispute not received. 1. The Plaintiff thereafter withdrew the suit in 1999. Sanna Thimmana Gouda Amt. JVSL Calcutta High Court for reinstatement of the suit earlier withdrawn Shares 5. Bellary Amount Involved (Rs. The Plaintiff has in 2002 made an application for reinstatement of the suit. 60000Ex-gratia to be paid by the co.17 crores The High Court has granted stay against the notice of the IT Dept. Vs. 7B(p). 1880 of 2000 Mewar Growth Ltd. JVSL London Court of International Arbitration for filing Pleadings Demurrage Charges $ 57. 3352 / 2002 JVSL Vs Dy. Parties Pending Before High Court of Karnataka. Toranagallu 361 D(p).P.45 (for dispatch earned & interest) and $ 118.Devanna 34800Ex-gratia to be paid by the co.. 1 C(p). Case No. the calcinations process in the lime calcinations plant was not to expected level. No. 8350Ex-gratia to be paid Claimant expired. The Claimant has filed this matter for the demurrage for the delivery of the limestone at the Goa Port. Due to the variance in the size of the limestone. & Ors.Information Memorandum Civil Suit No..106 - . S. G. The Plaintiff has filed this suit for a declaration by the court that they are the rightful owners of some shares of a banking company and that any transfers thereof were null and void. 2.P.) -- David James & Sons Vs. Other Ex-gratia matters/cases List of ex-land owners to whom the payment of ex-gratia is to be made. K. the limestone was found to be of a different size than the one desired by JVSL. S. NO. 365 E Kurekuppa Criminal Cases Sr.P. On receipt of the consignments.311.A.family dispute not received. Bangalore Subject M at t er Corex Accident W. Village Vaddu Name of the Ex-land owner Dodda Thimmana Gouda.
P. Customs & Excise (Upstream SBU): The status of the various show cause notices / demands material in nature issued by the Central Excise and Customs Authorities is as follows: Sl. JVSL Vs The SubInspector of Police.) Facts 2. Basappa who was an employee but was later dismissed by JVSL. MD & CEO and the GM (A&LA) of JVSL under SC-ST Atrocities Act. Stay Order has been obtained by JVSL thereby prohibiting the Court from proceeding any further in the matter. No 700/03 JVSL Vs The State by SubInspector of Police. 38526/2003 Mr.K. Details Value (Rs.K. M. No.107 - . C. Parties Pending Before Subject M at t er Amount Involved (Rs.Information Memorandum Sr. Toranagallu High Court of Karnataka for Trial Discrimin ation under SCST Atrocities Act Nil 3. A Stay Order has been obtained by JVSL against the Sub-inspector of Police. Saini. based on the Complaint filed by one employee Mr. The Police have registered a case against the Jt. Toranagallu thereby prohibiting the Police from further investigating the matter in Lorry accident matter which happened near the RM gate wagon un-loading area in which 2 workers had lost their life. R. Toranagallu High Court of Karnataka Lorry Accident Nil proceedings before the JMFC Court against JVSL officials in connection with the Corex Accident which had occurred at the factory site. Case No. G. in Lakhs) Status . V. CRLP No. No.
05. Response is awaited from Chennai Customs.150 Crore received by JVSL from JISCO.5. 23.00 Lakhs 8.00 Pending before the Supreme Court of India.40 The Tribunal has already stayed the order passed by the lower authority.363.05. The Tribunal has already stayed the order passed by the lower authority. The final hearing is scheduled on 19.05. Final reply submitted. our Stay-cumappeal has been filed before the CESTAT.740. Levy of differential duty on scrap: Goa Customs: Lakhs Rs.37 The Tribunal has already stayed the order passed by the lower authority. The final hearing will be held on 27. Show cause notices for demand of excise duty on sale of Corex gas supply to JTPCL / JPOCL.00 Appeal before the High Court of Karnataka has been filed.05 SCNs-VII.4. issued by the Central Excise and Customs Authorities : .108 - .18 4.5. 4851. Duty on interest free advance of Rs.99 Appeals pending before the CESTAT / Commissioner (Appeals). 3. The final hearing is scheduled on 19. Input credit on Corex chilling: 62.05. on Highgrade 47. PH is awaited in May’05. Chennai Customs: Rs.Information Memorandum 1. Demand of additional interest charges on warehoused goods 9.04. PH is awaited. 2. VIII & IX: awaited Order is SCN-X not yet issued by the dept. Bangalore. 7. 6. 104. 4920. Order is awaited. • • • • • SCN-I : Order is awaited SCN-IV: Order is awaited SCNs-V & VI: Final hearing is scheduled on 20. Input credit pellets. Met-coke import: CG given for Anti Dumping Duty (ADD) 908.05.00 5. The final hearing is scheduled on 11. Bangalore. 10.04.5.00 Based on the order passed by the Commissioner (Appeals). material in nature. Demand of duty on refractories and lock hoppers of Corex-I. The final hearing was held on 04. DRI Case – II – Demand of additional customs duty on warehoused goods.90 The Tribunal has already stayed the order passed by the lower authority. Customs & Excise (Down Stream SBU): The status of various show cause notices / demands. The Tribunal has already stayed the order passed by the lower authority.00 1103.
(Rs in Lakhs) Status 1.03. 2. 5. for which the Company obtained stay from the High Court of Karnataka.36 Reply to show cause notice filed – Pending for hearing before the jurisdictional commissioner.109 - .269 lacs (approx) is provided on account of new levy imposed by Karnataka Government w.23 Reply to show cause notice filed – Nothing further has been heard. on account of not furnishing Form C and Form F. 85.89 Rs. 2. 0. 3. 18.) 1. Valuation of inter unit transfer of CR FH Coil @ 115% of cost of production instead of at comparative price Duty demanded on sample drawn for in-house quality test Cenvat credit availed on capital goods Duty demanded charged in invoice on interest 0. Appeal pending for hearing before the Appellate Tribunal. No.20. Details Amt.79 Amount debited under protest.89 Appeal pending for hearing before the Appellate Tribunal.2005. of CST Vs JVSL There are no cases pending in respect of Sales tax & Entry tax for the period ended 31.e. Withdrawal of DEPB Benefit on account of difference between the declaration in shipping bill and physical examination of goods. Imposition of penalty under Rule 209A of the Central Excise Rules. 6. 4.23 Appeal pending for hearing before the Assistant Commissioner of Sales-tax (Appeals). 7. Disallowance of Cenvat credit availed in respect of furnace oil used in captive power generation. 50. No. Sales tax liability on account of nonsubmission of Form F in respect of branch transfer. 10.04 under Special Entry Tax Act-2004. Description Amt.10.Information Memorandum Sl.f. Sales Tax (Down Stream SBU): Sr. 1. 47. (Rs in Lakhs) Status 1. 1944 Sales Tax & Entry Tax (Upstream SBU): Parties Pending Before Commercial Tax Authority Subject of the Matter Late submission of Form "C" and Form "F" with the Department Amount Facts Involved (Rs. The Forms have now been submitted and a revised order is expected.78 lacs A demand was raised by the CST Dept. Comm. Appeal pending for hearing before Tribunal. contingent liability of Rs.00 Appeal pending for final hearing before the Appellate Tribunal.00 Appeal pending for hearing before the Commissioner (Appeals). Income Tax (Up Stream SBU): .75 Reply to show cause notice filed – Pending for hearing. 01.30 lacs have been debited under protest. Further.
50.41 Appeal being filed before the Commissioner of Income-tax (Appeals). based on facts. Addition made to net wealth on the basis of the insured value of Air-craft as per order passed u/s 16(3) of Wealth-tax Act. 10. as there is no question of law is involved. No. Status 1. Details Value in Rs. Notice of penalty u/s 202(1) r.79 Service Tax (Up Stream SBU): Sr. The High Court may not frame a question for reference. Recently the tribunal decision has been reversed by High court.775 Income Tax (Down Stream SBU): Sl. 2 Appeal to Karnataka High Court against order of Income Tax Appellate Tribunal for Assessment Year 1995-96. Description Usance Interest in Rs. 201(1A) for demand of withholding tax on usance interest received from income tax department 6. amount transferred to lease equalisation. interest disallowed u/s 14A and additions made to Book Profit in respect of provision for doubtful debts and advances. unutilised modvat credit.Information Memorandum Sr. The Income Tax Department has filed an appeal before Karnataka High Court against order of Income Tax Appellate Tribunal. Payment made other Bank called by Dept.110 - . Company appeal for assessment of interest under the head Business Income as against Other Sources. 3. No.618 The demand made by Dept. provision for diminution in value of investments etc. interest receivable written-off.s. Description Amt.96 Appeal being filed before the Commissioner of Income-tax (Appeals) 2036. 2. 10. reduction of depreciation as per Income-tax on slump sale. 134. Total 1891. Additions / Disallowances made in the assessment orders passed u/s 143(3) to Normal Income in respect of Surplus on repurchase of own debentures. is in respect of usance interest paid through ICICI on usance LC.w. Status .42 Appeals pending for hearing before the Commissioner of Income-tax (Appeals) / Appellate Tribunal. interest & other expenses capitalised in books.99. JVSL has replied penalty notice denying the liability relying on High court and Tribunal decisions. The Tribunal has allowed. No. Penalty levied u/s 271(1)(c) in respect of addition made in the assessment order passed u/s 143(3). (Rs in Lakhs) Status 1.97.
4A and declared that it has not avoided input stage credit.34 lacs..111 - . VAI. JSAL imported the consignment duty free under a notification. the final assessment is still pending. : JSAL supplied some steel strips to some companies for further export..19 lacs imposed by the Custom Authorities in FY 1997-98 for wrong removal of imported equipments from the bonded warehouse. Bellary and the order is expected at any time. Mangalore in respect of VAI & Amet.Rs 2.1.2005 at Mangalore and order is expected.42. The remaining eight notices have already been decided in favour of JVSL. the hearing is completed on 24. JSAL removed goods under Form AR.368 Replies to the notices have been submitted by the advocates on behalf of foreign parties. Russia (Rs. 500 by Excise Authorities in FY 2003-04 for wrong claim of CENVAT.81. 37. Bank Guarantee provided to Excise Dept ..1. Penalty of Rs. C. Amet Ltd. Service Tax Authorities have demanded service tax on consultancy services rendered by foreign parties namely. In the case of Alsthom Power. 1.Ex. Show cause notice has been received for duty demand on Interest charged in Invoice raised. Penalty imposed by SEBI/Other Regulatory bodies • • • Fine and penalty of Rs.Information Memorandum 1.2005 at C.50 lacs. Based on the orders passed by the AC.2089786) during implementation of the project. Austria (Rs. 758. Penalty of Rs. The Final hearing is awaited. 7. The Customs Dept issued a show a show cause notice upon JSAL stating that the benefit of the notification was not available . (16) Jindal Steel & Alloys Limited Outstanding Litigations: Excise Matters Dispute on demand of duty on Interest charged in Invoice raised by JISCO: Rs 21.71216321).21 Lacs plus penalty of Rs 37 lacs. has given show cause notice for payment of duty of Rs. The Department wants to include the interest charged in invoice in Assessable value and as consequence of this demanded duty on interest charged in invoice.27 lacs levied by BSE in FY 1998-99 for belated intimation of Book Closure dates. Bellary appeals have been filed before the Commissioner (Appeals). Custom Matters Custom Duty – Custom dept. For provisional assessment of consignment sales made. The hearing has been completed on 17.975261) and Alsthom Power. USA (Rs.Ex. As against this Company’s argument is that the interest charged in invoice is refunded to customers on timely payment of invoice amount and thus should not be included in assessable value for the purpose of calculation of Excise Duty.
19. 31.07. Civil Matters . 2004.093 from the Customs Department. the same has been reflected as a contingent liability. 0. A sum of Rs.65.65. the Company has paid the entire duty amount of Rs. 3. As against the demand for customs duty of Rs. However.311 Differential duty: Rs. However.Y.950 No provision has been made for these amounts in this account. Rs 440000 has been deposited on 5/10/2004. 1.65. Sanjay Sharma who was sacked for irregularities in his workings has filled a suit against the Company for his reinstatement as an employee.e. 67. no credit has been taken for this refund.60 lacs An ex. 67. . (17) Southern Iron And Steel Company Limited (SISCOL) As on December 31. the duty amount of Rs. the Company has filed an Appeal against the Assessement Order. 4. The outstanding amounts have since been paid and with this the above show cause notice has been settled. is accepted. which has already been filed.00.05.944 and has claimed refund of the amount on the ground that duty is not payable on the drawing portion of the goods kept under bonded warehouse and has accordingly not paid any interest. which may become due to the Company.340 and penalty and fines of Rs. The Company has subsequently received an adjudication order from the Commissioner of Customs demanding interest of Rs. due to non-receipt of official order. A stay application has been filled by JSAL against the show cause notice. 3.19. 35.36. If the bill of entry.945 which has already been paid will also be refundable.46.82.944 and interest of Rs.07. 2001-02.112 - .68.000. Income Tax Matters Rs. which has been filed being rejected. Litigation. The matter is pending before the Divisional Office of Central Excise.093 which the Customs Department has asked the Company to pay is payable contingent upon the bill of entry.44 Lacs for non-production of documentary evidence showing import of goods against remittance of Rs 4467512 under Sec 8(3) of FEMA.557 Special Additional Duty: Rs. 3.Information Memorandum and demanded the payment of duty along with penalty. the Company had the following contingent liabilities: i.Rs. Disputes etc. An amount equal to 10% i.36. ii. 4. 1352972 was paid to the Income Tax Department on basis of Assessement completed for A. The Company has replied to the show cause notice and has also represented at the time of hearing.employee Mr. The Customs Department issued a show cause notice on the Company for the following: a) b) c) Customs duty on excess quantity of Coke received: Rs.07. Other litigations The Special Director Enforcement has imposed a penalty of Rs.
2. 16.77. 2004 towards payment of these dues. 1956 has been filed in the Madras High Court for default in payment of Rs.92 plus interest against two companies viz.95 crores in its books of accounts till December 31. However. Mettur Dam for payment of outstanding dues of Electricity Tax for the period February 2002 to December 2003. i.900 has been made in the accounts for the increase in the charges. M/s Indo Fab Engineering ("Indo Fab") have obtained a decree of Rs. Further. A winding up petition under Section 433 and 434 of the Companies Act. By an order dated November 02. 2003 on power generated by generator or the captive power plant.113 - . the Company had to register its captive power plant with the Registering Authority (Electrical Inspectorate) and was also required to pay 10 paise tax per unit with effect from June 16. in another case (OS No. 1. The Company is in the process of filing an affidavit.35. A demand has been made on the Company by the Public Works department. the Company has obtained an interim injunction restraining the Tamilnadu Government from the levy of tax on sale of electricity for High Tension service connection and consumption for own use out of generator.000 to M/s Simplex Engineering.199 in ten (10) equal installments and granted an order of interim stay in respect of the demand of surcharge.199 (without the surcharge) in twenty (20) equal installments. 2003. Indo Fab has taken out garnishee order/attachment order in case no. 2004 from the Superintendent Engineer.30. 76. 697/1996) have obtained a decree and have applied to the court for garnishee order to the extent of Rs.30. 11. Government of Tamilnadu for Rs. 2.00.77. Indo Fab. M/s Eastern Metallurgical Equipments Pvt. 16. 94. 2004 has demanded a payment of Rs1. the Judgment Debtors in the Trichirapalli District Court. The Company filed a writ petition challenging the provision of The Tamil Nadu Electricity (Taxation on Consumption) Act.199 (inclusive of belated payment surcharge of Rs. 3 lacs per annum and the matter is pending.099) being arrears of peak hour charges for the period July 2003 up to August 2004. 54. Ltd and M/s Simplex Engineering. the Madras High Court permitted the Company to pay peak hour charges of Rs. Madras High Court has dismissed the Writ Petitions.35. The Company is representing to TWADB for charging the originally agreed royalty of Rs. Pending final hearing of the writ petition. 25. The Company has made provisions of Rs. CP no. As the Company owed Rs.05.Information Memorandum The Company had received a letter dated January 24. The Company has filed an affidavit disputing the claim in the before the Court (case no.03.221 being arrears for the previous years during which time the Company had been making payments only towards utilisation up to 1 mgd water from the Cauvery river against allotted quantity of 5 mgd water. However.57. The Company is in negotiations with the Public Works department to reach a settlement.00.As per the said Act and the rules framed thereunder.844 in the execution application filed against M/s Simplex Engineering.89. . a provision of Rs. 3.05.89. The Company received a letter dated October 15. 2004. 3 lacs per annum. 204 of 2004). Mettur Electricity District Circle.099. 1.e. TWADB stating that the royalty charges have been revised to Rs.35. The Company as gone on appeal before the Division Bench of the Madras High Court. Tamilnadu Electricity Board by a demand notice dated October 11. 1998 from Executive Engineer.734. Writ petitions had been filed by the Company against the Tamilnadu Electricity Board in the Madras High Court contesting the levy of Electricity Tax.221 in its books of accounts.054. The Company had filed Writs Petitions in the Madras High Court challenging the levy of belated payment surcharge of Rs.90. 1.77. the Company also requested that it be allowed to pay the peak hour charges of Rs. The Company made an arrangement with the Tamilnadu Water and Drainage Board (TWADB) for using their bridge for the water pipeline owned by the Company by paying royalty charges of Rs. 31. OS700/96 to the tune of Rs. The final hearing is awaited.30. the Company has made a provision of Rs.000.00.549 lacs per annum effective from 1993.
The second installment for redemption of debenture due on May 17. Employees of a labour contractor. After May 17. ID 106/2002) against the Company. claiming employment in the Company. starting from May 17. 81. The first redemption of Rs. A resolution was passed in a general meeting of debenture holders convened on February 25. 1998).356 plus interest thereon. Debentures to be redeemed in 5 annual installments of Rs. 30 each after 3 years from the date of allotment (i. the Company was not in a position to pay interest due for the period October 1. Salem (case no. 6 (due on May 17. 1998. 20 each at the time of allotment on May 17. to carry interest of 15% p. The Deputy Commissioner of Labour has referred the dispute to the Government of Tamilnadu for settlement as an industrial dispute. 30 to be treated as an Optionally Convertible Debenture (OCD) with an option of conversion into 1 equity share of face value of Rs. 2000 onwards. interest arrears and future interest as follows: . Due to lack of liquidity. Government of Tamilnadu acquired 154 acres of land for the Company and passed an award for the 154 acres. 2001 could not be paid. The handing over of balance portion of 49 acres has been stayed by the Court under the 3 Petitions filed by the land owners against the Government of Tamilnadu and the Company. have included the Company as a party to the suit as the Company is principal employer. to reschedule redemption of balance 4 installments. engaged by an executive of the Company. Labour related cases A driver in casual employment. in November 2004 for default in the payment of Rs.a. symbolic possession has been given to the Company for 105 acres only. Rescheduling of redemption of debentures Partial Option Convertible Debentures (POCDs) of face value Rs. 12. 2000) was done by the Company except for the pending amount as stated below. demanding award of a labour contract to a particular group of land-dispersed persons.114 - . Central Excise Two cases are pending before the Central Excise and Service Tax Appellate Tribunal (CESTAT) in respect of availment of MODVAT on Capital Goods for the fiscal years 199495 and 1999-2000 amounting to Rs.e.Information Memorandum The Company had received a notice under section 433 and 434 of the Companies Act. 2000. 2002.65. 10 each at a price of Rs. has filed a case in the Labour Court. 40 into 2 equity shares of Rs. debentures on which option to convert into equity is not exercised. 70 with a compulsory conversion of Rs. 70 were issued by the Company in March 1995 as per following terms mentioned in the prospectus: • • • • Face value of Rs. on or after May 17. 1995 Balance amount of Rs. Employees of a labour contractor claiming wage revision from the labour contractor has included the Company as a party to the suit as a principal employer. The Company has replied to the notice disputing the above claim. Civil cases One of the land dispersee has filed a case in the Court of the District Munsif of Mettur (case OS no.56 lacs and Rs. 329 of 2004) against the Company. claiming wage revision from the labour contractor. 6 each. payable half-yearly in September and March. The Company has filed a writ petition to quash the order of reference.29 lacs respectively. The Company was regular in making the interest payment up to September 2000. However. 23.
(Industrial Technical Consultancy Organisation of Tamilnadu Limited) (C) Associate Companies (1) South West Port Limited (SWPL) . CC 802/02 Hg dated August 29.10. a letter dated October 25. Saidapet. 6 Rs. 2004 was sent by SBI.03.56. Industrial Finance Branch to WCSPL advising that the letter from WCSPL requesting removal of above name has been forwarded to ITCOT Ltd. 7.Information Memorandum Principal Original due date May 17. 18 Rs. Defaults in Servicing Debenture interest aggregating Rs. 6 Rs. 2004 was also sent by WCSPL to SBI. 1. 6 Nil The defaults in servicing in accordance with above terms are given below. Litigation against Directors of SISCOL Mr. 12 Rs. Chennai and has appeared before the court as a nominee director of Indian Natural Medical Products Ltd.2004 • • Interest for the delayed payment calculated at the same rate of 15% to be paid on 31. A letter dated October 29.80 per debenture to be paid in two installments as under: Rs. Maharashtra for intimating the change in directors. However. Copy of this letter was also sent to RBI. Industrial Finance Branch forwarding the acknowledgement of form 32 filed with the Registrar of Companies for the resignation. Shanmugasundaram has received summon no.2003 and Rs. 6 Reduced principal Rs.31.62.52. 2005 May 17. 4. In this regard.57. October 30. 2002 with Registrar of Companies.52. 2004 (Rs.40 per debenture on 30. 2003 May 17. Jain was not a promoter director on WCSPL and requesting SBI to inform RBI to update their list of defaulters by removing name of Mr. interest to be paid on March 31 and September 30 each year at 15% on the principal amount outstanding with reference to the period for which it has been outstanding. in respect of West Coast Saw Pipes Limited (WCSPL). 2006 May 17.710) and December 31. 2008 Amount payable per debenture for redemption Rs. 10. P. An amount of Rs. 2002 May 17. WCSPL filed Form 32 on November 25. Jain’s name is mentioned in the RBI list for willful default of Rs.e.09. K.12. 6 Rs. 2002 from IX Metropolitan Magistrate Court. 5. 5.130) has not been serviced by the Company.2003 totaling Rs. Mr. For the period 01.710). advising that Mr. Rescheduled due date May 17. 2007 May 17. September 30.550 which was due on March 31. 2004 (Rs.2005.09. Subsequently.f. Jain from the list. 2000 for debentures issued by the Company has not been paid for want of surrender of debenture certificates for endorsement by the debenture holders. 2001 May 17. He is yet to be served with a copy of charge memo for the same. 25 lacs and above. 83.40 per debenture on 31. 2004 (Rs. N.56.2000 to 30. 2002 and has not been associated with the company since then. Mr.300 being the first installment of redemption due on May 17.83.2003 onwards. 1. 2004 Interest • Interest for the period from 01.10. Jain had resigned as a director from the board of WCSPL w.115 - .70.
No. 2.a. Parties Pending Before Subject of the Matter Jaisu Shipping Arbitration at Claims for the Company Pvt. JPOCL Of CESTAT Claim Duty of 12. 3. 2003 were: Sr.88 crores 2. to the extent the company does not expect any determination of liability in respect thereof amounting to Rs. as despatch and levied duty upon .) Facts 8 Appeals Comm. Case No. Of Excise Vs. the work had also not been completed within time. Particulars Bank Guarantees Excise Duty matters disputed by the company Claims against the company not acknowledged as debt (Rs. Moreover. 1. 8 Appeals Comm. 1.75 lacs. 1.30 6902.93 crores for delay and loss of profits due to a 45 days overrun along with interest @ 12. (2) Jindal Praxair Oxygen Company Private Limited (JPOCL) Contingent Liabilities not provided as on March 31. SWPL has also filed a Counter Claim of Rs.80 crores Venting of Gases has been treated by the Dept. Parties Pending Before Subject of the Matter Amount Involved (Rs. in lacs) Amount 111. 3. currently pending before arbitration. as despatch and levied duty upon the same. Excise Vs. No.) 3.00 Outstanding Litigation Cases filed by the Excise Department Sr. 155. No.116 - . Venting of Liquid Products has been treated by the Dept. Amount Involved (Rs. Outstanding Litigation Sr. the Marmagoa Port Versus South West Port Ltd. as the Claimant had not dredged the entire lagoon area stipulated under the contract.Information Memorandum Contingent liabilities not provided for relates to claims made by a dredging contractor.96 270.00 % p. JPOCL CESTAT Claim of Duty 7. the Evidence dredging work stage carried out at Ltd.47 crores Facts SWPL is disputing the claim.
4 cases CESTAT Claim of Duty on Captive Consumption 51. 2 cases 6.) Facts 4 cases JPOCL Vs. Comm. Of Central Excise (Appeals) Asst. JPOCL Comm. Of Excise (A) Claim of Duty 90. Of Excise JPOCL Vs. Parties Pending Before Subject of the Matter Amount Involved (Rs. Comm. as despatch and levied duty upon the same. Comm. 2 Appeals Comm.74 crores Duty on reimbursement of expenses Duty on reimbursement of expenses Service Tax payable on Engineering Services of Praxair Inc. Of Excise Vs. Comm. Comm. Claim of Duty 60. Comm. Denial of MODVAT availed by JPOCL on the Capital Goods to the extent of 25% on project imports.Information Memorandum Sr.93 lacs 5. Comm. Venting of Liquid Products has been . Comm. JPOCL CESTAT Asst.22 lacs 1. JPOCL Comm.98 lacs Duty reimbursement expenses on of 2. Of Excise Comm. JPOCL Comm. Comm. Technical Services and Field Service Agreements. LOX Consumption Captive 4. Of Excise Asst.) Facts 3.74 lacs 2 cases JPOCL Vs.. Of Excise JPOCL Vs.22 lacs 55. Of Excise Vs. Case No. Denial of MODVAT availed by JPOCL on the Capital Goods. Of Excise (A) Duty on Infrastructure Services Duty on Infrastructure Services Service Tax 1.16 lacs Cases filed by JPOCL against the Excise Department Case No. Of Excise Comm. Of Excise Vs. No. Of Asst. 1 case Comm. Of Excise Comm. Venting of Liquid Products has been treated by the Dept. Of Excise Vs. Comm. Comm. Claim of Duty 1. 1 case 7. Duty on Infrastructu re Services Duty on MTOP Duty on IT Reimburse ment 8.87 crores the same.48 lacs 2 cases JPOCL Vs. Comm.77 lacs 11. Asst.06 crores 10 Appeals JPOCL Vs.51 crores 116 of 2002 JPOCL Vs. Of Excise (A) and Asst. Denial of MODVAT availed by JPOCL on the Capital Goods (SS Plates and 25% on project imports. Parties Pending Before Subject of the Matter Amount Involved (Rs. Comm. Of Excise Vs.117 - . Denial of MODVAT credit 2. Comm. JPOCL CESTAT Claim of Duty 1.
Jain were not promoter directors on WCSPL and requesting SBI to inform RBI to update their list of defaulters by removing name of Mr. as despatch and levied duty upon the same. Sajjan Jindal and N. N. Mr. Jain from the list. Jain had resigned as director from the board of WCSPL w. Subsequently. . 2004 were also sent by WCSPL to SBI. N. K. 2004 was sent by SBI. In this regard.21 crores treated by the Dept. A letter dated October 29.118 - . in respect of West Coast Saw Pipes Limited (WCSPL). Comm. Sajjan Jindal and Mr. Sajjan Jindal and Mr.f. WCSPL filed requisite Form 32 with Registrar of Companies. 2002 and October 30. 2002 respectively and has not been associated with the company since then.Information Memorandum 3 Appeals Excise (Provisional Assessment) JPOCL Vs. Venting of Gases has been treated by the Dept. letters dated October 25. as despatch and levied duty upon the same. (Industrial Technical Consultancy Organisation of Tamilnadu Limited). Sajjan Jindal and Mr. June 28. Copies of these letters were also sent to RBI. advising that Mr. 25 lacs and above. Industrial Finance Branch forwarding the acknowledgement of form 32 filed with the Registrar of Companies for the resignation. Against subsidiaries of JSWHL JSWHL has no subsidiary company/ies. Jain’s name are mentioned in the RBI list for willful default of Rs. Industrial Finance Branch to WCSPL advising that the letter from WCSPL requesting removal of above name has been forwarded to ITCOT Ltd. However. K. Maharashtra for intimating the change in directors. Of Excise Commissioner of Excise (A) Claim of Duty 5. K. K. Against Directors of JSWHL There are no pending litigation/default against directors of JSWHL except mentioned below. Mr. N.e.
.Information Memorandum GOVERNMENT APPROVALS Since JSWHL is a holding / investment company with no business other than making investments and providing consultancy services. no government license/approval is required by it to carry on its activity.119 - . An application is being filed with Reserve Bank of India for registering the Company as NBFC.
OTHER REGULATORY DISCLOSURES
Stock Market Data for Equity Shares of JSWHL Equity Shares of JSWHL are not listed on any stock exchanges. JSWHL is seeking approval for listing of its shares through this Information Memorandum.
Particulars Regarding Previous Public or Rights Issues During the Last Five Years JSWHL has not made any previous public or rights Equity issue during the last five years. There is no other issue of Equity shares otherwise than for cash and there are no outstanding debentures and redeemable preference shares. There has been no revaluation of assets of JSWHL.
Companies under the Same Management There are no companies under the same management within the meaning of Section 370(1B) of the Companies Act, other than the ones disclosed elsewhere in the Information Memorandum.
Disclosure on negative net worth/winding up/sick/BIFR/disassociation/strike off from ROC There is no other group company of JSWHL having a negative net worth or under winding up or a sick company or under BIFR except as mentioned above in the Information Memorandum. Further, JSWHL has not disassociated from any company. Further, none of group companies of JSWHL have applied for striking off their name from the ROC.
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Since incorporation, no dividend on Equity shares of JSWHL has been declared. Dividends will be declared at the Annual General Meeting of the shareholders based on a recommendation by the Board. The Board may recommend dividends, at its discretion, to be paid to the members of JSWHL.
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FINANCIAL INFORMATION AUDITORS’ REPORT To, The Board of Directors Jindal South West Holdings Ltd. Jindal Mansion, 5A - Dr. G. Deshmukh Marg Mumbai - 400 026. Dear Sirs, We were engaged to report on the financial information of Jindal South West Holdings Ltd. (“the Company”) which is required to be prepared in accordance with the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines 2000 (“the Guidelines”) issued by the Securities and Exchange Board of India (“SEBI”) in pursuance of section 11 of the Securities and Exchange Board of India Act, 1992. The financial information is proposed to be included in the Information Memorandum to be issued to the Stock Exchange Authorities in India in connection with the listing of fully paid up Equity shares (including issued to the shareholders of erstwhile Jindal Iron & Steel Co. Ltd. pursuant to the Scheme of Arrangement and Amalgamation (Scheme) sanctioned by the Hon’ble High Courts of Bombay and Karnataka on 3rd September, 2004 and 20th January, 2005 respectively) of the Company. The Company’s management is responsible for preparation of summary statement and the capitalization statement and our responsibility is to report based on the work done. We have performed such tests and procedures, which, in our opinion, were necessary for our reporting to you. These procedures include comparison of the annexed financial information with the Company’s audited financial statements. We were engaged to report on the annexed statement of assets and liabilities of the Company as at 31st March, 2005, 31st March, 2004, 31st March, 2003 and 31st March, 2002, (Annexure I) and statement of profit and loss for each of the four consecutive financial years ended 31st March, 2005 read together with the notes thereon (Annexure II). The above said statements have been extracted from the financial statements drawn up in accordance with the provisions of the Companies Act, 1956, audited by us for the years ended on 31st March, 2005, 31st March, 2004, 31st March, 2003 and 31st March, 2002. Based on our audit for the years ended on 31st March, 2005, 31st March, 2004, 31st March, 2003 and 31st March, 2002, we confirm that: 1. (a) These statements reflect the ‘Assets and Liabilities’ and ‘Profit and Losses’ for each of the relevant periods as extracted from financial statements drawn up in accordance with the provisions of the Companies Act, 1956, audited by us after making therein the disclosures and adjustments required to be made in accordance with the provisions of paragraph 126.96.36.199 of the Guidelines. (b) The aforesaid statement of Assets & Liabilities and Profit & Loss have been drawn up by the Company giving effect to adjustments and regroupings as and when considered appropriate.
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6.7 (i) of the Guidelines is given in note 7 of Annexure IV. 37606 Place : Mumbai Date : 28th April 2005 .10. The Notes to the Statement of “Assets & Liabilities” and ‘Profit & Loss Account’ are enclosed as Annexure IV.10. We have also examined the accompanying statement of Accounting Ratios set out in Annexure V for the four consecutive previous financial years upto the year ended on 31st March. Choksi Partner M. they have been correctly computed from the figures stated in the Statement of Assets and Liabilities and Profit and Loss as referred above. For Shah Gupta & Co. Disclosure of the Tax Shelter Statement as required by paragraph 6. 3. 4. 7. The summary of significant accounting policies adopted by the Company is enclosed as Annexure III to this report. Chartered Accountants Vipul K. No. The Company has not taken unsecured loan. approved by the Company and annexed to this report. the Statement of Capitalisation as set out in Annexure VI which has been prepared based on audited information. 2005.Information Memorandum 2.2.2. Hence the information regarding analysis of outstanding unsecured loans in accordance with the paragraph 6.7(h) of the Guidelines have not been disclosed. We report that in our opinion. The Company has not declared dividends during any financial years covered in this report. This report is intended solely for your information and for the Company to comply with the provisions of the Guidelines and may not be suitable for any other purpose. 5.123 - .
12 0.217.96 Lacs on account of allotment of Equity shares on 16th March.29 14.217. Expenditure Networth Note: Share Capital includes an amount of Rs.135.74) 53. .70) 4.43 (3. Loans and Advances: Inventories Sundry Debtors Cash & Bank Balances Loans & Advances Other Current Assets Liabilities and Provisions: Secured Loans Unsecured Loans Current Liabilities and provisions Year ended March.02 4.43 0.124 - .121.43 13.Information Memorandum Annexure I STATEMENT OF ASSETS AND LIABILITIES 2002 A Fixed Assets: Gross Block Less : Depreciation Net Block Less: Revaluation Reserve Net block after adjustment Revaluation Reserve Investments Deferred Tax Asset . Share Capital (see note) 2.59 0. 31.12 9.088.05 13.10) 10.30 5.00 0.10) 344.91 1.96 52. Reserves Less Revaluation Reserve Reserves (Net of Revaluation Reserves) Less: Misc.109. 2003 2004 Rupees in Lacs 8.29 53.57 0.10 each for every 4 equity shares held by them in JISCO (erstwhile).32 0.02 0.121.30 F G Net worth Represented by 1.78 0.20 1.06 52.791. 2005 to Shareholders of JISCO (erstwhile) in the ratio of 1 equity share of Rs.35 43.52 0.35 6.13 10.22 6.28 2005 for 6.32 4.00 (0.23 0.23 (0.87) (4.64) 9.59 10.08 2.net Current Assets.04 B C D 4.28 1.28 E 0.23) (3.85 9.98 14.1099.87) (8.19 1.06 (13.00 (4.28 8.
53 19.21 0.90 532.33 504.50 0.21 0.005 Income Sales Total Other Income * Increase (Decrease) in inventories Expenditure Raw Material Consumed Staff Costs Other Manufacturing expenses Administration Expenses Selling & Distribution Expenses Depreciation Interest Net Profit before Tax Less: Provision for Tax .09) 560.06 0.34 12.76 4.37 529. 31.34 0.50 0.50 0.71 36.29 0.18 0.50 0.42 (5.09) (5. 2003 2004 Rupees in Lacs 2.66 560.125 - .23 0.Information Memorandum Annexure II STATEMENT OF PROFITS AND LOSSESS 2002 Year ended March.66 15.42 560. Break up of other income is : Dividend Interest Consultancy Fees Profit on sale of Investments - 0.15 0.66 .48 - - 0.33 5.33 0.42 5.65 1.22 27.Current Add: Deferred Tax Assets Net Profit after Tax * Since the said company is an NBFC and not manufacturing company there is no sales.
a provision for the same is made in the accounts. including any attributable cost for bringing the assets to its working conditions for its intended use. b. there is a permanent diminution in the value of investments. 1961. An impairment loss is recognized whenever the . The financial statements are prepared under the historical cost convention on the accounting principle of a going concern and comply with the applicable accounting standards issued by the Institute of Chartered Accountants of India and the relevant provisions of the Companies Act. 1956 except otherwise stated. (g) Impairment of Fixed Assets Consideration is given at each balance sheet date to determine whether there is any indication of impairment of the carrying amount of the Company’s fixed assets. In case. If any indication exists.Information Memorandum Annexure III SIGNIFICANT ACCOUNTING POLICIES (a) General a.126 - . ii. (d) Investments Long term Investments are stated at cost. (c) Depreciation The Company provides depreciation on assets on the written down value method on pro-rata basis at the rates prescribed in Schedule XIV to the Companies Act. (f) Taxes on Income Current tax is determined as the amount of tax payable in respect of taxable income for the year in accordance with the Income Act. The deferred tax for timing difference between the book and tax profits for the year is accounted for. Provident Fund: On actual liability basis. (b) Fixed Assets Fixed assets are stated at cost of acquisition. (e) Retirement Benefits Liability in respect of retirement benefits is provided and / or funded and charged to Profit and Loss Account as follows: i. which is accounted on receipt basis. less accumulated depreciation. and those with significant uncertainties and in accordance with the applicable accounting standards. an asset’s recoverable amount is estimated. 1956. using the tax rates and laws that have been substantively enacted as of the Balance Sheet date. Deferred tax assets arising from timing differences are recognized to the extent there is reasonable certainty that this would be realized in future. Leave Encashment: As determined on the basis of accumulated leave to the credit of the employee as at the year end. The company follows Mercantile system of accounting and recognizes Income & Expenditure on accrual basis except dividend.
the estimated future cash flows are discounted to their present value based on an appropriate discount factor. (i) Miscellaneous Expenditure Preliminary Expenses and Share Issue Expenses are written off over a period of ten years.127 - .Information Memorandum carrying amount of an asset exceeds its recoverable amount. In assessing value in use. The recoverable amount is greater of the net selling price and value in use. (h) Contingent Liabilities Contingent liabilities are disclosed after a careful evaluation of the facts and legal aspects of the matter involved. .
753.250 5. a.Information Memorandum Annexure IV NOTES ON FINANCIAL STATEMENTS 1.000 3.155.243 The aforesaid difference has been credited to General Reserve as per the ‘Scheme’ approved by Hon’ble High Courts of Bombay and Karnataka.10 each for every 4 equity shares held by them in JISCO (erstwhile). along with certain loans & advances.265.749. The Company has incorporated investments and Loans & Advances at fair value as determined by the valuer. d From 1st April. c Rupees Investments & Loans & Advances Less : Amount of Equity shares issued to the shareholders erstwhile JISCO Excess Credited to General Reserve of 5.334 865. Accordingly. The Scheme has accordingly been accounted in these financial statements with effect from appointed date under “purchase method” of accounting as prescribed by Accounting Standard (AS 14 “Accounting for Amalgamations” issued by the Institute of Chartered Accountants of India.493 109. the Income & Expenses for the year 2003-04 of Investment division of erstwhile JISCO has been given effect to in the profit and loss account.334. the Company has issued 10. Ltd (JISCO)(erstwhile).753. 2003. b Pursuant to the Scheme. Pursuant to the Scheme of Arrangement and Amalgamation (Scheme) sanctioned by Hon’ble High Courts of Bombay and Karnataka on 3rd September. The difference of Rs.128 - . JISCO (erstwhile) had carried the Investment division in “trust” on behalf of the Company. as disclosed in Schedule B.824 .923. which is allowed as per Accounting Standard (AS) 14 “Accounting for Amalgamations” issued by the Institute of Chartered Accountant of India. Rupees Add : Income of Investment division of erstwhile JISCO Less : Expenses of Investment division of erstwhile JISCO Less : Provision for Tax – AY 2004-05 5. 2003 in accordance with the Scheme.10 each to the Shareholders of JISCO (erstwhile) in the ratio of 1 equity share of Rs. referred to as Investment division has been transferred to the Company with effect from 1-4-2003 (Appointed date).625 fully paid up equity shares of Rs. the Investment Portfolio of Jindal Iron & Steel Co.996.155.999. 2004 & 20th January.243 between the amount of Share Capital issued by the Company and the value of assets transferred from JISCO (erstwhile) has been credited to General Reserve of the Company as at 1st April.510 545. 2005 respectively.5.
408/. The Company has become a Non Banking Finance Company (NBFC) as per Reserve Bank of India Act. 1934. 2.17 ‘Segment Reporting’.020 36. 4. 2005 include the figures of JISCO (erstwhile) from the said date. there are no amounts due to small scale and/or ancillary industrial suppliers on account of principal and/or interest as at the close of the year. In compliance with the Accounting Standard 22 (AS 22) relating to “Accounting for Taxes on Income” issued by the Institute of Chartered Accountants of India. 2005 and the profit and Loss Account and Cash Flow Statement for the year ended 31st March. Segment Reporting Based on guiding principles given in Accounting Standard . Based on the information available with the Company regarding the status of the supplier as defined under the interest on Delayed payments to Small Scale and Ancillary Industrial Undertaking Act. 7.499 .37. the Company’s primary business segment is Investing & Financing. Remuneration to the Auditors: 2004-2005 Rupees Audit Fees Tax Audit Other services Out of pocket expenses (including Service Tax) 6. 3. Net Deferred Tax Assets comprises: the 27.713 2003-2004 Rupees 3780 - 5. 1993.129 - . Loans and Advances have a value on realization in the ordinary course of business. The Company is in the process of completing necessary formalities for registration. at least equal to the amount at which they are stated.550 11.for the current year. the Company has: (i) Adjusted net Deferred Tax Liability of Rs. the figures of the current year are not comparable with those of the previous year. Current Assets. These activities mainly have similar risks and returns.2005 Rupees (a) Expenses covered by Section 35 D of the Income Tax Act. In the opinion of the Board. 2003 (Appointed date) the Balance Sheet as at 31st March.03. 1961 88.as at 31st March 2004 against General Reserve and (ii) Recorded Deferred Tax Assets of Rs.Information Memorandum e In view of aforesaid Scheme with effect from 1st April. 1. 33. As company’s business activities falls within a single primary business segment the disclosure requirements of AS-17 in this regard are not applicable. Hence.101/. issued by the Institute of Chartered Accountants of India. Deferred Tax Liability : As at 31.
000 18.167. (b) Related party Transactions: Current Year Referred to In (a)(ii) above (Rupees) Sale of goods/services Loans/Advances given Loans/Advances taken Dividend Received Nil Nil Nil 48.15.629. Details relating to investments in the above related parties have been disclosed in Schedule C "Investments". as required by Accounting Standard 18. issued by the Institute of Chartered Accountants of India is given below: (a) List of Related Parties (i) Parties where control exists: NIL (ii) Other Related Parties with whom the Company has entered into transactions during the year: (Associates of the Company/Enterprises over which key management personnel and/or their relatives exercise significant influence) Jindal Vijayanagar Steel Ltd. 2. Computation of Basic and Diluted Earnings per share: 381.983 Previous Year Referred to In (a)(ii) above (Rupees) 17. Sun Investments Pvt.500 Nil 1. Related Party Disclosures. “Related Party Disclosures”.000 Nil c) Outstanding Balances as at 31st March 2005 Current Year Referred to in (a) (i) above (Rupees) Loan/Advance Given Loan /Advance Taken Sundry Debtors Notes: 1. . Ltd.130 - .145 (a) Expenses covered by section 35 DD of the Income Tax Act.000.337 8. Related party relationship is as identified by the management and relied upon by the auditors.922 Nil Nil Previous Year Referred to in (a) (i) above (Rupees) Nil 1.Information Memorandum (b) Depreciation Deferred Tax Assets : 23.900 9. 1961 2.000.
Accordingly there is no impairment loss as mentioned in the Accounting Standard – 28 (AS-28) “Impairment Loss” issued by the Institute of Chartered Accountants of India.204) 100.77 2003-2004 Rupees (509. Current year’s figures include the figures of investment business of JISCO (erstwhile) and hence. Previous year figures have been regrouped/ rearranged wherever necessary to confirm with current year’s presentation. 12. 10/.000 (5.) 10. 1956 are either Nil or Not Applicable.099. not comparable with that of previous year. The additional Information pursuant to Part II of Schedule VI to the Companies Act. 11.618 11. . There are no internal or external indications existing on the Balance Sheet date indicating that an asset is impaired.Information Memorandum Particulars 2004-2005 Rupees 52.131 - .948.per share) (Rs.625 4.09) Profit (loss) after Tax (As per Profit and Loss Account) Total Number of shares Earnings Per Share (Basic and Diluted) (Face Value – Rs.
618 (309. 31 2003 2004 2005 Net Profit after Tax No.422 - 0.473 (509.000 22.000 (3.995 Net Assets No.205) 5.000 (5.000 50.625 479.618 11.Information Memorandum Annexure V Accounting Ratios 2002 1 Earning Per Share For the year Ended on March.099.625 4. of Shares EPS 2 Return on Net Worth (a) (b) (a)/(b) 50.23 (509.09) 11.684 936.948.684 100.205) 5. of Shares NAV (a) (b) (a)/(b) 500.948.132 - .000 0.321.321.000 10 936.264 RONW 3 Net Asset Value (a)*100/(b) 0 2.000 0 22.000 9.09) 52.728.473 100.77 Net Profit after Tax Net Worth (a) (b) 500.264 100.36 (309.204) 100.728.45 .204) 52.099.
06 53.87) 5.133 - .00 52.13 1. total Debt / Networth and Debt/ Equity ratio is not applicable.Information Memorandum Annexure VI CAPITALISATION STATEMENT Pre-issue as at 31-3-2004 As adjusted for Issue (Rupees in lacs) Short Term Debt Long Term Debt Shareholders Funds: Share Capital Reserves Total Shareholders Funds Long Term Debt /Equity 10. .06 - NOTE: Since there are no Long Term and short term Debt.00 (188.8.131.52.
unless such executors or administrators or legal representatives shall have first obtained Probate or Letter of Administration or Succession Certificate. matters to be decided at board meetings. upon such terms as to indemnity or otherwise as the Board in its absolute discretion may think necessary and under Article 60 register the name of any person who claims to be absolutely entitled to the share standing in the name of a deceased member. that if such person shall elect to have his nominee registered. 66. . In addition to these clauses. No share shall in any circumstances be transferred to any infant. from a duly constituted Court in the Union of India. either be registered himself as the holder of the shares or elect to have some person nominated by him and approved by the Board registered as such holder.Information Memorandum MAIN PROVISIONS OF THE ARTICLES OF ASSOCIATION OF JSWHL Following are the main clauses of the Articles of Association of JSWHL. There shall be paid to the Company in respect of the transfer or transmission of any number of shares such fee. The executors or administrators or holders of a Succession Certificate or the legal representatives of a deceased member (not being one or two or more joint holders) shall be the only persons recognised by the Company as having any title to the shares registered in the name of such member. 63. insolvent or person of unsound mind. he shall not be freed from any liability in respect of the shares. subject to the right of the Directors to retain such dividends or money as hereinafter provided. Transmission of Shares 60. Subject to the provisions of the Act and Article 57 and 58 any person becoming entitled to shares in consequence of the death. may. as the case may be. provided nevertheless. upon producing such evidence that he sustains the character in respect of which he proposes to act under this Articles or of such title as the Board thinks sufficient. be entitled to receive and may give a discharge for. A person entitled to a share by transmission shall. and until he does so. but nothing herein contained shall be taken to release the estate of a deceased joint-holder from any liability on shares held by him jointly with any other person. the other clauses including inter alia relating to restriction on transfer of shares. 64. he shall testify the election by executing in favour of his nominee an instrument of transfer in accordance with the provisions herein contained. lunacy. the Board may dispense with production of Probate or Letters of Administration or Succession Certificate. the survivor or survivors shall be the only persons recognised by the Company as having any title to or interest in such share. any dividend or other moneys payable in respect of the shares. as a member. and the Company shall not be bound to recognise such executors or administrators or holders or successors or the legal representatives.134 - . 65. The Company shall incur no liability or responsibility whatsoever in consequence of its or giving effect to any transfer of share made or purporting to be made by any apparent legal owner thereof (as shown or appearing in the Register of Members) to the prejudice of 61. 62. or by any lawful means other than by a transfer in accordance with these Articles. as the Directors may require. provided that in any case where the Board in its absolute discretion thinks fit. In the case of the death of any one or more of the persons named in the Register of Members as the joint-holders of any share. with the consent of the Board (which it shall not be under any obligation to give). if any. can be perused from the Articles of Association which is available for inspection as mentioned at the end of this Information Memorandum. etc. bankruptcy or insolvency of any member.
though it may have been entered or referred to in some book of the Company. 261 and 264 of the Act. or referred thereto. 120. Nirmal Kumar Jain 3) Dr. in any book of the Company. The first Directors of the Company shall be : 1) Mr. Any such additional Director shall hold office only up to the date of next Annual General Meeting. the power to agree that such appointer shall have the right to appoint or nominate by a notice in writing addressed to the company one or more persons. the Board shall have power at any time and from time to time to appoint any other qualified person to be an additional Director. any bank or financial institution or any person or persons (hereinafter referred to as “the appointer”) for borrowing any money or for providing any guarantee or security or for technical collaboration or assistance or for underwriting or enter into any other arrangement whatsoever. Board of Directors 116.135 - . who are acceptable to the Board. 264 and 284 (6) of the Act. the number of Directors (excluding Debenture and Alternate Directors) shall not be less than three nor more than twelve. and the Company shall not be bound or required to regard or attend or give effect to any notice which may be given to it of any equitable right. Central. 121. the Board shall have power at any time and from time to time to appoint any other qualified person to be Director to fill a causal vacancy. which may occur as a result of any such Director or Directors ceasing to hold that office for any reason whatever. title or interest to or in the said shares. title or interest or notice prohibiting registration of such transfer. 2) 117. Any person so appointed shall hold office only up to the date upto which the Director in whose place he is appointed would have held office if it had not been vacated by him. subject to the provisions of Section 255 of the Act. Subject to the provisions of Section 261. . The Directors appointed or nominated under this Article shall be entitled to exercise and enjoy all or any of the rights and privileges exercised and enjoyed by the Directors of the Company including payment of remuneration and travelling expenses to such Director or Directors as may be agreed by the Company with the appointer. nominate them and the appointer may appoint another or other in his or their place and also fill in vacancy. 1) Until otherwise determined by a General Meeting of the Company and subject to the provisions of Section 252 of the Act. The Directors may also agree that any such Director or Directors may be removed from time to time by the appointer entitled to appoint. A Director of the company shall not be bound to hold any qualification shares. and may have such notice.Information Memorandum person having or claiming any equitable right. title or interest or be under any liability whatsoever for refusing or neglecting so to do. State or Local. Sajjan Jindal 2) Mr. Saibal Kanti Gupta Whenever Directors enter into a contract with any Government. notwithstanding that the Company may have had notice of such equitable right. but so that the total number of Directors shall not at any time exceed the maximum fixed under Article 112. but the Company shall nevertheless be at liberty to record and attend to any such notice and give effect thereto if the Board shall so think fit. as Directors on the Board for such period and upon such conditions as may be mentioned in the agreement and that such Director or Directors may not be liable to retire by rotation nor be required to hold any qualification shares. the Directors shall have. 122. Subject to the provisions of Section 260.
insolvency or tortious act of any person with whom any moneys. but subject to the rights attached to any preference share capital. and if any Director be called upon to go or reside out of the ordinary place of his residence on the Company’s business. . The Board may allow and pay to any Director. such sum as the Board may consider fair compensation or for traveling. Every officer or agent for the time being of the Company shall be indemnified out of the assets of the Company against all liability incurred by him in defending any proceedings whether civil or criminal in which judgement is given in his favour or in which he is acquitted or in connection with any application under Section 633 of the Act in which relief is granted to him by the Court.136 - . who is not a bonafide resident of the place where the meetings of the Board are ordinarily held and who shall come to such place for the purpose of attending any meeting. receipts. 138. or for any other loss. he shall be entitled to be repaid and reimbursed any traveling or other expenses incurred in connection with the business of the Company. 195. from time to time. divide among the contributories in specie any of the assets of the Company and may with the like sanction. Subject to Section 258 and 261 of the Act the Company at the General Meeting at which a Director retires in manner aforesaid may fill up the vacated office by electing a person thereto. vest any part of the assets of the Company in Trustees upon such trusts for the benefit of the contributories as the liquidator with the like sanction shall think fit. neglects of any other Director or Officer or for joining in any receipts or other act for conformity or for any loss or expenses happening to the Company through the insufficiency or deficiency of title to any property acquired by order of the Directors. increase or reduce the number of Directors. The liquidator on any winding-up (whether voluntary. 136. for and on behalf of the Company or for the insufficiency or deficiency of any security in or upon which any of the moneys of the company shall be invested or for any loss or damage arising from bankruptcy. damages or misfortunes whatever which shall happen in the execution of the duties of this officer or in relation thereto unless the same happens through his own dishonesty. Subject to provisions of Section 201 of the Act no Director. Indemnity And Responsibility 194. and may alter their qualifications and the Company may (subject to the provisions of Section 284 of the Act) remove any Director before the expiration of his period of office and appoint another qualified person in his stead. boarding. or effects shall be deposited or for any loss occasioned by an error of judgement or oversight on his part. The person so appointed shall hold office during such time as the Director in whose place he is appointed would have held the same if he had not been removed. in addition to his fee for attending such meeting as above specified.Information Memorandum 124. 135. the Company may by Ordinary Resolution. A retiring Director shall be eligible for re-election. with the sanction of a Special Resolution. securities. Manager or other Officer of the Company shall be liable for the act. lodging and other expenses. Subject to Section 259 of the Act. under supervision or compulsory) may. Winding up 193.
9) A copy of the draft Agreement being executed between JSWHL and Mr. N. Managing Director & CEO. without reference to the shareholders. 2005. Sharepro Services (India) Pvt.m. Mumbai – 400 026 for inspection from 10. (Registrar and Transfer Agent) and Central Depository Services (India) Limited (CDSL) dated 14th day of February. (Registrar and Transfer Agent) and National Securities Depository Limited (NSDL) dated 23rd day of February. Any of the contracts or documents in this offer document may be amended or modified at any time if so required in the interest of the Company or if required by the other parties. 2005. 2005 of the Honorable High Courts of Judicature at Bombay and Karnataka respectively approving the Scheme of Arrangement 7) Tripartite Agreement between the JSWHL. G.00 a. Mumbai along with this Information Memorandum. . 6) Orders dated 3rd September.m. K. to 4.00 p. JVSL and their respective members and creditors. Material Documents 1) Memorandum and Articles of Association of JSWHL as amended from time to time 2) Memorandum and Articles of Association of JVSL as amended from time to time 3) Certificate of Incorporation of JSWHL 4) Certificate of Incorporation of JVSL 5) Scheme of Arrangement between JISCO. Patel in connection with his appointment as Jt.Information Memorandum MATERIAL CONTRACTS AND DOCUMENTS The following contracts (not being contracts entered into in the ordinary course of business carried on by the Company). Sharepro Services (India) Pvt. JSWHL.137 - . 2004 and 20th January. 8) Tripartite Agreement between the JSWHL. Ltd. Ltd. Deshmukh Marg. 5A – Dr. These documents have been delivered to The Stock Exchange. which are or may be deemed material are available at our registered office of JSWHL at Jindal Mansion.
Patel Jt. Managing Director & CEO Place : Mumbai. Date : April 28. N. SIGNED ON BEHALF OF THE BOARD OF DIRECTORS For Jindal South West Holdings Limited K. . 2005.138 - .Information Memorandum DECLARATION All statements made in this Information Memorandum are true and correct.
1992.T.10 each unless otherwise specified in the context thereof The twelve months ended Match 31 of a particular year Foreign Investment Promotion Board Hindu Undivided Family This document as filed with the Stock Exchanges is known as and referred to as the Information Memorandum The Income-Tax Act. G. Act JISCO JSWHL JVSL Memorandum / Memorandum of Association NAV NSDL NSE RBI Registered Office of our Company ROC SCRR SEBI SEBI Act SEBI Guidelines : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : Description Accounting Standards as issued by the Institute of Chartered Accountant of India Articles of Association of Jindal South West Holdings Limited The statutory auditors of JSWHL. NSE & DSE ********* Stock Exchanges : . 2000. Mumbai The banks which is the banker to JSWHL Board for Industrial and Financial Reconstruction The Board of Directors of JSWHL The Stock Exchange.. Mumbai – 400 026 The Registrar of Companies. Mumbai The Securities Contract (Regulation) Rules. as amended from time to time The Delhi Stock Exchange Association Limited Earnings per Equity Share Equity shares of the Company of Rs.Information Memorandum DEFINITONS & ABBREVIATIONS Term AS Articles / Articles of Association Auditors Banker(s) to the Company BIFR Board of Directors / Board / Directors BSE CAGR CDSL Companies Act DSE EPS Equity Shares Financial year / Fiscal / FY FIPB HUF Information Memorandum I. and where specified for other Companies. Chartered Accountants. 1957 The Securities and Exchange Board of India constituted under the SEBI Act Securities and Exchange Board of India Act. Deshmukh Marg. 1956. 1961. Maharashtra. Net Asset Value National Securities Depository Limited The National Stock Exchange of India Limited Reserve Bank of India Jindal Mansion. except as stated otherwise Jindal Iron & Steel Company Limited Jindal South West Holdings Limited Jindal Vijayanagar Steel Limited The Memorandum of Association of JSWHL. Mumbai Compounded annual growth rate Central Depository Services (India) Limited The Companies Act. as amended. as amended from time to time SEBI (Guidelines for Disclosure and Investor Protection) 2000 issued by SEBI effective from January 27. M/s.Dr. including instructions and clarifications issued by SEBI from time to time BSE.139 - . 5A . Shah Gupta & Co. as amended from time to time.