Information Memorandum

INFORMATION MEMORANDUM

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: sharepro@vsnl.com.

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Information Memorandum

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

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Information Memorandum

RISK FACTORS
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. After this listing. including: • • • • • • • Volatility in the Indian and Global securities market. New laws/rules and changes in any law and application of current laws/rules could affect our manner of operations and profitability. results of operations and financial condition. the prices of our Company’s equity shares may be volatile. Significant development in the regulation of financial services market. results in a loss of business confidence and adversely affect the business. Adverse media reports on our Company or on the Indian financial services industry. The results of operations and performance’ Perceptions about our Company’s future performance or the performance of Indian investment and consultancy companies.Information Memorandum market regulators in India. Terrorist attacks and other acts of violence or war involving India and other countries could adversely affect the financial markets. -4- . including those involving India or other countries and other such acts. Our Company’s share price could be volatile. There can be no assurance that an active trading market for the equity shares will develop or be sustained 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. Terrorist attacks and other acts of violence or war. or an active trading market for our Company’s equity shares may not develop. The price of our Company’s equity shares on Indian Stock Exchanges may fluctuate after this listing as a result of several factors. Such acts may also result in a loss of business confidence and have other consequences that could adversely affect our business. 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. results of operations and financial condition.

N. which is the Effective Date of the Scheme.5. The aforesaid Order of the Honourable High Court of Judicature at Bombay was filed by JSWHL with the Registrar of Companies (“ROC”). CFD/DIL/SR/38545/2005 dated April 15. 11-132705 – registered with : The Registrar of Companies. subject to applicable regulations. title and interest of JISCO therein.3. 2003 (i.e. K. Jt. 5A – Dr. Such listing and admission for trading is not automatic and will be subject to fulfillment by JSWHL of listing criteria of BSE. Chairman Mr. have approved the Scheme of Arrangement & Amalgamation between Jindal Iron & Steel Company Limited (“JISCO”). Further. NSE and DSE at the time of the application by JSWHL seeking listing. the Equity Shares of JSWHL issued pursuant to the Scheme as well as existing shares of JSWHL issued for the purpose of incorporation shall. Gupta Mr. Mumbai on February 4. vide its letter no. S. the National Stock Exchange of India Limited (“NSE”) and The Delhi Stock Exchange Association Limited (“DSE”). instrument. Board of Directors 1) 2) 3) 4) 5) 6) Mr. Everest. K. NSE and DSE for such issues and also subject to such other terms and conditions as may be prescribed by BSE.e. the Appointed Date under the Scheme). if any w. stands transferred to and vested in JSWHL so as to vest in the JSWHL all the rights. above relaxation is also subject to JSWHL confirming the following: - -5- . G.4 of SEBI (DIP) Guidelines.1 (iv) – (viii). Mumbai – 400 026. 2004 and the Order of the Honourable High Court of Karnataka was filed by JSWHL with the ROC. Jain Dr. Mumbai – 400 002. be listed and admitted to trading on The Stock Exchange. Maharashtra. SEBI. Mumbai.3. Sajjan Jindal. Jindal Vijayanagar Steel Limited (“JVSL”) and their respective members and creditors (the “Scheme”) whereby the Investment Division of JISCO. Atul Desai Mr. Maharashtra. K. without any further act. Subsequently. Shailesh Haribhakti Authority for Listing The Honourable High Courts of Judicature at Bombay and of Karnataka vide their Orders dated September 3. pursuant to the provisions of Section 391-394 of the Companies Act. or deed.3 and 8. Registration No. 2004 and January 20. Mumbai on November 22. Maharashtra. 2005. subject to subsisting of charges and pledges. N. 2005 has granted relaxation from the applicability of Rule 19(2)(b) of the Securities Contract Regulation (Rules). 8.3. 2005 respectively.5.Information Memorandum GENERAL INFORMATION Name & Registered office of the Company Jindal South West Holdings Limited Jindal Mansion. Marine Drive.5. 1st April. Deshmukh Marg.f. In accordance with the said Scheme. Mumbai (“BSE”). Jindal South West Holdings Limited (“JSWHL”). Patel. 100. Managing Director & CEO Mr. 2000. 1956. 1957 (SCRR) subject to JSWHL complying with the provisions of Clauses 8.

Jindal South West Holdings Limited b) Neither the unlisted transferee Company.3. Jindal South West Holdings Limited nor its promoters/directors are debarred by SEBI from accessing the capital market. the “Public Holders” referred in clause 8. 2000 excludes the following: i) Promoters and persons acting in concert of pre-arrangement listed transferor company. The company has filed applications with BSE for listing of above Equity Shares. JSWHL will comply with the aforesaid conditions stipulated by SEBI. JSWHL has submitted its Information Memorandum. namely.4 of SEBI (DIP) Guidelines.Information Memorandum a) For the purpose of satisfying at least 25% of post-scheme paid up capital of unlisted transferee company. JSWHL will publish an advertisement in the newspapers containing its details in line with the details required as per clause 8. ii) Any shareholder of pre-scheme unlisted transferee company. containing information about itself and Group Companies to BSE. NSE and DSE for making the said Information Memorandum available to public through their websites. or warrant that this Company’s securities will be listed or will continue to be listed on the BSE. Jindal Iron & Steel Company Limited as defined in SEBI (Substantial Acquisition of Shares & Takeovers) Regulations. certify or endorse the correctness or completeness of any of the contents of this Information Memorandum. its promoters. Jindal Iron & Steel Company Limited. Jindal South West Holdings Limited to be with public holders of shares in the pre-arrangement listed transferor company. JSWHL has made the said Information Memorandum available on its website.5.4 of SEBI (DIP) Guidelines. namely.5. Disclaimer Clause of BSE As required. The BSE does not in any manner: warrant. namely. Prohibition by SEBI The Company. 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. its directors. a copy of this Information Memorandum has been submitted to BSE. 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. 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. 1997.5. namely. or -6- . 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. namely.3.3.

its management or any scheme or project of this Company. Filing Copies of this Information Memorandum being filed with BSE. The Company has filed applications with NSE for listing of its equity shares. NSE. 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. Listing Applications will be made to BSE. Remaining shareholders were allotted shares in physical mode. nor does it take any responsibility for the financial or other soundness of this Company. NSE and DSE for permission to deal in and for an official quotation of the Equity Shares of the Company. Credit Rating This being an issue of equity shares. no credit rating is required. -7- . 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. Disclaimer Clause of the NSE As required.Information Memorandum take any responsibility for the financial or other soundness of this Company. nor does it warrant that this Company’s securities will be listed or will continue to be listed on the NSE. a copy of this Information Memorandum has been submitted to NSE. and DSE in due compliance with the directive issued by BSE. Every person who desires to apply for or otherwise acquires any securities of the Company may do so pursuant to independent inquiry. JSWHL has nominated BSE as the Designated Stock Exchange for the aforesaid listing of the shares. 2005). certify or endorse the correctness or completeness of any of the contents of this Information Memorandum. Demat Credit JSWHL has executed Agreements with NSDL and CDSL for admitting its securities in demat form. its management or any scheme or project of this Company. Every person who desires to apply for or otherwise acquire any securities of this Company may do so pursuant to independent inquiry. its promoters. 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. 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. its promoters. No ratings have been received by the Company for other securities/instruments in the last three years. nor does it in any manner warrant. 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. 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.

Information Memorandum

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: sharepro@vsnl.com. 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 : viren.samani@jisco.com Investors can contact the Compliance Officer in case of any share transfer related problem.

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Information Memorandum

CAPITAL STRUCTURE

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

B.

: :

11,09,96,250

C.

: :

10,99,96,250

D.

11,09,96,250

E.

: :

---

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

1

27/08/01

Equity Shares are allotted and issued to the subscribers of Memorandum of Association Private Placement

50000

500000

10/-

10/-

0.45%

2

10/03/03

50000

1000000

10/-

10/-

0.45%

3

16/03/05

Pursuant to the Scheme of Arrangement & Amalgamation

10999625

110996250

10/-

10/-

99.10%

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Information Memorandum

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

-Sub-Total --

---

18,71,431 27,20,185

16.86 24.51

(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)

-----1,00,000

-----100.00

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

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Ltd. 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.Information Memorandum 5) The list of top 10 shareholders of JSWHL and the number of Equity Shares held by them: (a) Sr. Kantilal Narandas Patel Mr. options or rights to convert debentures. there are no outstanding warrants. Nirmal Kumar Jain Mr. Ltd. Beaufield Holdings Ltd Jindal Equipment Leasing and Consultancy Services Ltd Sun Investments Private Ltd HSBC Equity Fund Reynold Traders Pvt. loans or other instruments into equity shares of JSWHL. No. preferential allotment.11 - . Raman Madhok Mr. by way of split/consolidation of the denomination of Equity Shares or further issue of Equity Shares (including issue of securities . 7) There will be no further issue of Equity capital whether by way of issue of bonus shares. No. 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. 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. 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. Seshagiri Rao M V S 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. Vijay Karayi Total 20000 15000 14300 100 100 100 100 100 100 100 50000 6) As on the date of this Information Memorandum. Ram Prakash Nangalia Mr.

directly or indirectly for Equity Shares) whether preferential or otherwise.12 - . from time to time.933 members as on the date of filing of this Information Memorandum. .Information Memorandum convertible into exchangeable. 9) There shall be only one denomination for the Equity Shares of JSWHL. subject to applicable regulations and JSWHL shall comply with such disclosure and accounting norms specified by SEBI. 10) JSWHL has around 31.

The basic thesis contemplated was to create an integrated steel player focus solely on the steel business. JVSL and their respective members and creditors are given below: As part of the strategic review. maximum production of value added products. related loans and advances of JISCO into Jindal South West Holdings Limited (JSWHL). focus identities. The investments being demerged comprise shareholdings in JVSL and certain other investment and related loans and advances. Ltd (JISCO) with Jindal Vijayanagar Steel Ltd and demerger of the investments. cost synergies. increase control. efficiency. cost reduction. In nutshell. 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. . consolidation of core business. the shareholders have also got the shares of JVSL as per the Scheme. This would boost the confidence of the shareholders of the merged Company (JISCO and JVSL) to invest with a clear investment thesis. This would result in overall saving in cost and maximization of shareholders value. the Jindal Group decided to restructure its steel business of Jindal Iron & Steel Co. To provide an opportunity to the shareholders of JSWHL to unlock the value component of JISCO’s Investment in Jindal Group companies. The consolidation of the Steel Businesses will lead to operational synergies besides certain additional benefits as mentioned above. Re-organisation of the capital structure of JVSL including issue of warrants of JVSL to all its existing shareholders. Amalgamation of Steel Business of JISCO (Remaining Business) with JVSL. It will result in creation of an end-to-end chain from iron ore to galvanized products. operational and financial synergies.13 - . flexibility. economics of scales and enhancing entity value. utilization of taxshields. JSWHL. the overall strategic obligations of the Scheme envisaged: Demerger of the Investments and related loans and advances of JISCO into JSWHL.Information Memorandum OBJECTS OF THE SCHEME OF ARRANGEMENT & AMALGAMATION The objects of the Scheme of Arrangement & Amalgamation between JISCO. 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. enhancing financial strength. At the same time.

JSWHL a Company is mainly engaged in the investment activities by investing in shares. supervision. publicity.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. Jindal Stainless Limited. departments and services of the Govt. local bodies in India or abroad. Jindal Steel & Power Limited. design etc. 2005 respectively. cost control. management. Public or local authorities. Public bodies / authorities. associations (incorporated or unincorporated). stocks or other securities of Companies. HRD. JSWHL also provides consultancy services and acts as advisors inter alia in matters and problems relating to finance. bodies. development. concerns.. as are usually rendered by consultants for and in connection with the management. marketing. . 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. research. manufacture / production in all types of industries to and for institution. Jindal Strips Limited and other companies. 2004 and January 20. organization. Trustees etc. technical know how planning.14 - . commencement or expansion.

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. plant operation. debenture stocks. plant and merchandise. purchasing techniques and business (including construction of plants and buildings). negotiable instruments. export and import. 11. associations (incorporated or unincorporated). to provide procurement. trustees. concerns. Human Resource Development. 2004 . production in all types of industries to and for institution.15 - . Date December 6. research. sell or otherwise dispose-off shares. development. Change in Memorandum of Association of JSWHL since its inception. incorporate or promote. administration. stocks. underwrite. personnel. to provide technical know-how. production. sales. acquire. manufacture. management. debentures. assist in acquisition of plant and machinery. 2003 Particulars Increase in Authorised Share Capital from Rs. bonds. Scientific Research and Development centres and also to entire into any arrangements by way of turnkey project involving supply of technical. material and cost control. stocks. bodies. administration. sell or otherwise deal in shares. departments and services of the government.50 crores. public or local authorities. civil. public body or authority. acquire. civil. construction and technical services and to render such other services as are usually rendered by consultants for and in connection with the management. securities of any Company. 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. whether in India or elsewhere and for this purpose of invest in. finance and organisation. to make feasibility studies. government.Information Memorandum HISTORY JSWHL was incorporated on July 12. 2001 and it was granted certificate of Commencement of Business on September 5. sell or otherwise dispose-off any company or companies. 25 lakhs to Rs. Alteration of Clause 21 of Memorandum of Association July 27. design. marketing. debentures or other securities in such promotee companies and also to otherwise invest in. render advise on planning. purchases. 2001. hold. supervision. advertisement. hold. commencement or expansion of industry. The main objects of JSWHL as set out in its Memorandum of Association are as follows: 1) To form. municipal and local bodies. publicity. financial.

Ltd Tarini Properties Pvt. Suman. Ltd. 14. Doddakalasandra. 32. Vellard View. SciTech Patent Art Services Pvt. Pvt. Name. Vile Parle (East). S. Ltd. Jain Director (S/o Shri Bradhi Chand Jain) 302. Managing Director & CEO (S/o Shri Narandas B. Jindal Overseas Pte Ltd. Atul Desai Director (S/o Shri Manubhai Desai) C/62. N. 64. Father’s Name. Ltd. South West Mining Ltd. Jindal Praxair Oxygen Company Pvt. Kanakapura Road. Industrialist Mr. P. Occupation Mr. Mumbai – 400 057. Hampi Investments Pvt. Gupta Director (S/o Shri Sushil Kumar Biswas) 14. O. Company Executive Age (in years) 46 Other Directorships • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • Jindal Vijayanagar Steel Ltd Jindal Thermal Power Company Ltd.Information Memorandum MANAGEMENT Board of Directors The following table sets forth details regarding the Board of Directors of JSWHL. Ltd. Company Executive 58 Dr. Haji Ali. Mumbai – 400 034 Advocate & Solicitor 66 • 55 • • • • . Ltd.16 - . Jindal Aluminium Ltd South West Port Ltd Jindal Steel & Alloys Ltd. Tardeo Road. K. Sapphire Technologies Ltd Heritage Airlines Pvt. Lallubhai Shamaldas Road. Singapore Garden. Ltd. Ltd Tanvi Residency Pvt. Ltd. K. Play Ground Road. Andheri (W). Jindal Vijayanagar Steel Ltd Vesuvius India Ltd EcoCoke & Power Private Ltd Encore Software Ltd. Sapphire Technologies Ltd. Twenty First Century Printers Ltd. Patel Jt. Samarth Holdings Pvt. Walkeshwar Road. Glofame Cotspin Industries Ltd Welspun Syntex Ltd TCFC Finance Ltd India Safety Vaults Ltd 54 Mr. Address. Patel) 12. K. P. N. Heritage Airlines Pvt. Ltd. Tanvi Residency Pvt. Ltd Windsor Residency Pvt. Ltd. Mumbai – 400 006. Southern Iron & Steel Company Ltd Jindal Thermal Power Co. Ltd. Designation. Ltd. Jindal Technologies & Management Services Pvt. Art India Publishing Co. B. Bangalore – 560 062 Company Director Mr. Yesho – Mangal. Ltd. Steelmet Marketing (India) Pvt. Ltd JSW Power Ltd Jindal Coated Steel Pvt. Sajjan Jindal Chairman (S/o Late Shri O. Ltd Tarini Properties Pvt. Mumbai – 400 058. Vijayanagar Minerals Private Ltd Ferro Green Technologies Pvt. Jindal) Jindal House.

4th Floor. In 1989 he got associated with Jindal Iron & Steel Company Ltd. Moores Rowland Consulting Pvt.5 billion US$ and is a part of Jindal Organisation. Jindal South-West group was formed in the year 2004. E-Biz Chem Pvt. IDBI Capital Market Services Ltd. Mahindra Gesco Eastern Ltd. Ltd. Shailesh Haribhakti Director (S/o Shri Vishnubhai B. He also promoted Jindal Vijayanagar Steel Ltd. JBF Industries Ltd. He is also a Member of Board of Directors of Indian Institute of Management. National Shipping Board and Tirumala Tirupati Devasthanams Board. manufacturing Cold Rolled and Galvanized Sheet Products. Advantage Comfort Pvt. 47A. one of the largest business house in India having a turnover of over 3 billion US$. and Vijayanagar Minerals Private Ltd. he joined Swastik Foils. theatre & culture. Ltd. Firpos Premises. Brief Biographies of the Directors Mr. Jindal is a member of the Bombay Chapter of the Young Presidents’ Organisation. Jindal moved to Mumbai to independently look after the western region operations of Jindal Organisation in 1983. Kotak Mahindra Pvt. Ltd. Haribhakti MRI Corporate Services Pvt. To achieve better synergies in the operations of group companies. He is a keen sportsman & avid squash player with an interest in art. Mr. Ltd. SIDBI Venture Capital Ltd. Gujarat Adani Port Ltd. Ltd. Mumbai – 400 026. Ltd. Chartered Accountant 49 • • • • • • • • • • • • • • • • • • • • Pantaloon Retail (India) Ltd. Haribhakti) 7.. Birla Global finance Ltd.Information Memorandum Mr. Sajjan Jindal Sajjan Jindal was born on December 5. Vidyavihar Containers Ltd. The Rubber Products Ltd. Advantage Moti India Pvt. Jindal Praxiar Oxygen Ltd. for the complete backward integration. 1959. Indore. Equity Trustee Ltd.. Morarjee Textiles Ltd. India. in Calcutta. Mr.17 - . Jindal Thermal Power Company Ltd. After graduation. He received his Bachelor of Engineering degree in Mechanical Stream from Bangalore University in the year 1982. Bhulabhai Desai Road. JSW Group is having an annual turnover of over 1. South West Port Limited and Southern Iron and Steel Company Limited were added in JSW Group in the year 2004. Indian Petrochemicals Corporation Ltd. Ambuja Cement Eastern Ltd. All these businesses were formed to achieve the core competency in the production of Flat Steel Products. Walchand Capital Ltd. as a Joint Managing Director and retained this position until 1983. . Alliance Capital Asset Management (I) Pvt.

Mr. He was with Permanent Magnets Limited for 22 years. Mr. Jain has been closely associated with Jindal Vijayanagar Steel Limited. theatre and sports. (Met. Mr. K. 1995 and was responsible for Corporate Finance. prior to joining the Jindal Organisation. K. light music. Jain Mr. Engg. which is implemented by Jindal Organisation with JISCO as the lead promoter. integrated steel plant. K. Ph. K. Having extensively traveled to Asia. (Tech. Patel Kantilal Narandas Patel is a Commerce Graduate from Mumbai University and Fellow Member of Institute of Chartered Accountants of India. Mr. Gupta is B. theatre and reading. He is a strong supporter of team building and core competence.Information Memorandum Mr.Sc. Jindal Technologies and Management Services Private Limited & other companies. He is Chairman of JSW Power Limited and also director of other Jindal Group Companies. 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. Gupta Dr. Mr. Nirmal Kumar Jain. Jain holds a fellowship from the Institute of Chartered Accountants and The Institute of Company Secretaries of India.) . His personal interest lies in reading. He also acted as Director (Commercial) & Director (Corporate Affairs) of JISCO. Management Information Systems and Corporate Taxation. S. N. Mr. 58.18 - . N. Patel is also Director of Jindal Steel & Alloys Limited. Europe and USA. From inception. He made significant contributions in the areas of Strategic Planning. light music. Jindal is a young and dynamic entrepreneur who believes that India is a global destination for industry and trade. Jain has been invited as a core member of various corporate management groups. Corporate Financial Management and also Human Resources.).). His professional interests include management development / training and his personal interests lie in yoga. He has made significant contribution in the areas of Financial Management. Project Identification & Appraisal. he led JISCO’s tremendous growth in turnover.D.Sc. He was with Standard Industries Limited for 21 years prior to joining the Jindal Group. He believes that the key to success for any entrepreneur is to change his business model ahead of time. he has gained enormous insights into the workings of many successful companies overseas. N. Joining as General Manager – Finance in 1992. (Tech. He was Executive Vice Chairman of Jindal Iron & Steel Company Limited (JISCO – now merged with JVSL). 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. He joined Jindal Iron & Steel Company Limited (erstwhile) as Vice President (Finance) in August. Accounts and Taxation. D. Dr. Sapphire Technologies Limited.

London . Board of Governors.The Caparo Group. & Member. Holds three patents. Chairman. SAIL. Solicitor & Advocate.The Government of Orissa President/Managing Director/Executive Vice Chairman. Sponge Iron India Ltd. reputed Law Firm as solicitor Assistant in November. National Institute of Foundry & Forge Technology. Desai : • • • • Joined M/s Kanga & Co.1998.. on 01-04-1980 Has attended to about 100 mergers and amalgamations and demergers in the Bombay High Court. Part-time Director . Calcutta... Hyderabad Director. etc. Belgium. CSIR. Chairman-cum-Managing Director. Sindri Metallurgist of the year Award .. Dhanbad. Published over 75 research papers in India and abroad on technology and management. Indian Institute of Metals. Calcutta. Chairman.Indian Institute of Metals. International Iron & Steel Institute. Vishakapatnam Steel Plant (RINL). 1974. UNESCO Fellow to Moscow Steel Institute Distinguished Alumnus Award. Mishra Dhatu Nigam Ltd.T.. Chairman. President . & Head of Metallurgical Engineering.. Research Council. Tata Refractories Ltd.19 - .. (Super Alloys Plant). Indian Iron & Steel Co. 1950 is B.. Board of Directors. Work Experience of Mr. R&D Centre.Executive Board. Indian Institute of Technology. Regional Research Laboratory.. Task Force on ‘Steel Growth Plan till 2010’.Information Memorandum Formerly: Prof.B. Linz. Member . Independent Technical/Management Consultant to: .. Government of India. Ministry of Defence. Editor of a Monograph on Blast Furnace Iron making. Advocates & Solicitors. Mr. Atul Desai Mr. Jindal Praxair Oxygen Company Ltd.I. Jindal Vijayanagar Steel Ltd. Calcutta-1995 National Metallurgist Award . Rourkela Steel Plant. Managing Director. Jindal Iron & Steel Company Ltd. Central Fuel Research Laboratory. Committee of Technology. Iron & Steel Division. MECON Ltd. Bharat Bhari Udyog Nigam Ltd. Standing Conference of Public Enterprises (SCOPE). Bombay. B. .Indian Institute of Metals. Research Council. Managing Director. Sc. SAIL.. LL. Ltd. Hindustan Zinc Ltd. Central Mine Planning & Design Institute Ltd. Department of Science & Technology.1980 Honorary Member . Austria . Has attended to a large number of arbitrations involving commercial disputes and disputes under Building Contracts and Turn-key Contracts. Became a partner of M/s Kanga & Co. Several National Committees constituted by the Ministry of Steel. Bhubaneswar.Voest-Alpine Industrieanlagenbau GmbH.. Atul Desai born on January 27.Industrial Development Bank of India.

club fees and leave travel concession for himself and his family. house maintenance allowance together with reimbursement of expenses or allowances for utilities such as electricity. N.Information Technology Committee of the Indian Merchants’ Chamber (IMC) 2001 Chairman – Corporate Governance Committee of ASSOCHAM 2001 Arbitrator – Appointed by Indian Council of Arbitration. K. He writes prolifically on the web and in various newspapers and magazines.2010. Verma Committee on Sweat Equity. He also served as ASSOCHAM Nominee on the J. He is on the Board of some reputed listed Companies also. ESOPs & Privately Placed Equity and on the Naresh Chandra Committee on Corporate Governance. medical insurance. Further. and CEO of Haribhakti Group. K. the aggregate value of all the perquisites and allowances like furnished accommodation or HRA in lieu thereof. Patel shall not exceed a maximum ceiling of 125% of his Basic Salary. having a presence of more than five decades in the areas of accounting.04. Accounting Standards. 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. Managing Director & CEO of JSWHL. financial and management services in India.Information Memorandum Mr. His contribution to the corporate world and society comes through the leadership roles. medical reimbursement. Bonus. Mr. Patel who is the Jt.2005 to 27. He served as the President of Indian Merchants’ Chamber for 2003. Patel setting out the detailed terms and conditions of his appointment as Jt. some of which are given below: • • • • • • • President – Indian Merchants’ Chamber 2003-04 Chairman . furnishings and repairs. This draft agreement will be available for inspection at the registered office of the Company.20 - . He has been with the Group since 1978.04 and as Chairman – Corporate Governance Committee of ASSOCHAM in 2001. Managing Director & CEO. N. Currently the remuneration of Jt. 6 lacs per month. Shailesh Haribhakti Shailesh Haribhakti is a senior Chartered Accountant and Managing Partner of Haribhakti & Co.04. IT in today’s business scenario and Valuation. 2. 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. Haribhakti has made vast contributions to the corporate world and society through various leadership roles. within the overall ceiling as mentioned above has been fixed as under: - (b) .. Managing Director & CEO is eligible to the following compensation: 1. Remuneration : (a) The remuneration of the Jt. Performance Incentive. Managing Director & CEO will be so fixed by the Board of Directors from time to time that the Salary. 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. Period : Five years from 28. Mr.R.

Superannuation Fund or Annuity Fund to the extent these either singly or put together are not taxable under the Income Tax Act.21 - . the Jt. Details are as follows: Board of Directors Category Audit Committee --Member of Investors/Shareholders Grievance Committee --- Mr. 4. and c) Encashment of leave at the end of the tenure. Shareholders/Investors Grievances Committee and Remuneration Committee as required by Clause 49 of the listing agreement to be entered into with the Stock Exchanges. In addition. 5. 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. Patel Non-Executive Jt. Superannuation etc. Managing Director & CEO Remuneration Committee --- . b) Gratuity as per rules of the Company (which shall not exceed one half month’s Salary for each completed year of Service). Managing Director & CEO shall be paid remuneration by way of salary and perquisites as specified above.(Rupees One Lakh Seventy Thousand Only) per month.000/. N. Patel. Jt. perquisites shall be evaluated as per Income-tax Rules.Information Memorandum Basic Salary : Rs. 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. Sajjan Jindal Mr. The following perquisites shall not be included in the computation of the ceiling on remuneration specified above: a) Contribution to Provident Fund. 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. 1. For the purposes of calculating the above ceiling. 3. 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. wherever applicable.70. 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. In the event of loss or inadequacy of profits in any financial year. Provident Fund. if required. JSWHL has already appointed independent directors to its Board and has also constituted the Audit Committee. 1961. Sitting Fees Mr. subject to the approval of Central Government.

N. Atul Desai Mr. K.2005 31. N. Shailesh Haribhakti Date of Appointment Since incorporation 28. Mr. K. Jain Dr. Shailesh Haribhakti Interest of the Directors Mr. K. April 28.2005 Date of Resignation ------Reasons Appointed as Director Appointed as Jt. Patel. K.f. 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.760 2. Mr. Patel. 2005 (i. K. Atul Desai Mr. Manoj Kumar Mohta has been appointed as Deputy General Manager.189 550 4.04. Managing Director & CEO w.e. Atul Desai Mr. Sajjan Jindal Mr. Mohta is responsible for Management Services Division and reports to Mr. K. Term of Office All the directors are liable to retire by rotation except Mr. N. Change in Board of Directors of JSWHL since its inception Name Mr. K. Jt. Patel.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. K.01. the directors of JSWHL have no other interest in JSWHL. K. S. K.22 - .f April 28. Patel has been appointed as Jt. Patel Mr. Gupta Mr. Gupta Mr. K. Jain Dr. K. Other than as stated above and the respective shareholding of the directors mentioned above. N. S. Managing Director & CEO of the Company for a period of 5 (five) years w. Managing Director & CEO Appointed as Director Appointed as Director Appointed as Additional Director Appointed as Additional Director Management Organization Structure of JSWHL Mr.900 246 --- Mr. Legal and Administration work of the Company. N. who has been appointed as the Jt. . 2005. Mr. Managing Director & CEO.600 984 --No of Shares of JSWHL allotted as per the Scheme 3.e. Gupta Mr. Virendra Samani is appointed as Company Secretary and is looking after the Secretarial.01. Sajjan Jindal Mr.200 19.e. reporting to Mr. S. the record date) 12. Patel is Jt. Shareholding of Directors Name of Director No of Shares of JISCO as on February 25. Jain Dr. N. N. Patel Mr. N.2005 Since incorporation Since incorporation 31.Information Memorandum Mr. Managing Director & CEO.

.. Auditors M/s Shah Gupta & Co. Managing Director & CEO of the Company w. Mumbai is appointed as the Auditors of JSWHL.Information Memorandum Shareholding of the key managerial personnel There are no key managerial personnel holding shares in JSWHL. there are Three (3) employees of JSWHL. 2005 (i. except as stated below: Mr. Chartered Accountants. Employees At present.e. 2005. Patel 2200 550 Bonus or Profit Sharing Plan for key managerial personnel There is no bonus or profit sharing plan for key managerial personnel. Patel has been appointed as Jt. April 28. the record date) No of Shares of JSWHL allotted as per the Scheme Mr. Changes in key managerial personnel since inception There is no change in key managerial personnel since its inception.e. except as stated below: Name of Key Managerial Personnel No of Shares of JISCO as on February 25. N. K. There has been no change in the Auditors since incorporation. K.f.23 - . N.

He is also the Chairman of Jindal Thermal Power Company Limited and Twenty-First Century Printers Limited. He was the Chairman and Managing Director of erstwhile JISCO and the Managing Director of JVSL.20 1.E. Mrs.: F 0256563 Mr. 1970 as Jindal Strips Private Limited. The group companies have been classified into the Promoter Companies. Ltd.V.24 - . is Chairman of the Company.248 504.59 9.P. Deepika Jindal.53 .Information Memorandum PROMOTERS/PRMOTER GROUP COMPANIES AND ASSOCIATED COMPANIES Educational Qualification: B. Mr.G. R. of shares % of shareholding 133. Subsequent to restructuring. (A) Promoter Companies (1) Jindal Strips Limited (JSL) The company was promoted by Late Shri O. He is also the director of Indian Institute of Management. Rakesh Garg. vii Stainless Investments Ltd.794 62. mainly dealing and investing in securities.01 1. Mr. Promoter’s holding 1 Promoters: Indian Promoters: i Gagan Trading Co. Indore and a member of TTD Development Advisory council and Bombay chapter of the Young President Organization.861 206. 1975. vi Nalwa Investments Ltd.) Driving License No. iv Everplus Securities & Finance Ltd v Mansarover Investments Ltd.: 44304/Hissar Passport No. Shareholding Pattern The shareholding pattern as on March 31. Jindal and was incorporated on November 18. ii Sun Investments Ltd iii Colorado Trading Co.158 92. No. He has more than twenty years experience in the industry. The name of the company was changed to Jindal Strips Limited on May 5. Mr.22 4. aged 46 years.80 1.683 78. Ltd. Category No. Sajjan Jindal. the company is now a Non Banking Finance Company. The board of directors of the company comprises Mr. A. Mishra.738 112. 2005 is as follows: Sr. Ratan Jindal. Garg and Mr. H. Mr. Promoter Group Companies and Associate Companies as given below. Jindal is the Vice Chairman and Managing Director of the merged entity. (Mech. He was instrumental in setting up JVSL. Rajinder Parkash. Mr. Jindal is the director in Jindal Aluminum Limited and South West Port Limited.395 2.83 2. Consequent to the merger of the two companies.

35 0.00 Financial performance The financial performance of the company (Rs. Financial Institutions.99 253.26 81.565 30.25 - .856.35 0. b.437 0.Ltd xi Jindal Equipment Leas & Con. 4 a.19) (86.Equity Reserves and surplus (excluding revaluation reserves) Sales (including Excise duty) Interest and Dividend Income Other Income PAT Dividend (%) EPS (Rs.611 274.199 5.Information Memorandum 2 B.565 125.780 186.000 55.38 100.06 2. viii Manjula Finances Ltd ix Vrindavan Services P.07 8.00 43.) 2003-04 5.12 1.13 249.23 2.66 . 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) 54.00 1.08 5. c.70 60% 5.) BV (Rs.163 0.45 6.687 185 2.00 55.24 2001-02 18./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.02 0.13 293.145 257. in crores) is given below: Share capital .74 44. Sub-total (3) Others: Private Corporate Bodies Indian Public i.419 2.26 12.Ltd x Hexa Securities & Finance Co. c.61 31.751 312.65 40% 15.51 5.994 488. Ser.64 3.729 311.361 1. d.611 54 2.05) 495.268 109. b.46 11.48 6.279.62 1.Government Institutions) FIIs.91 446.923 268.63 2.Ltd xii Saw Pipes Ltd.01 2. Institutions / Non.56 2.41 1484.393 141.07 5.22 2002-03 5.44 (44.205.59 778 32.08 23. Insurance Companies (Central/ State Govt.229 120.76 9.03 0.964 1.246. 3 a.136.

00 245. Madan Lal Gupta.0001 86. of Shares 10 10 15 10 10 10 16085755 2414000 18499820 % of shareholding 0.30 284.00 250. Prithviraj Jindal Mr.00 196.00 360. Sushil Bhuwalka Jindal Strips Ltd Jindal Steel & Power Ltd Total Financial performance The financial performance of the company (Rs. The company has engaged the services of a Registrar & Transfer Agent to handle the grievances of the investors.0001 0.00 Low (Rs. Ratan Jindal Mr.10 216.60 365.0001 0.25 230.90 243.0001 0.05 222.15 and the market capitalization was Rs. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Mr.26 - . 1990 in the State of Maharashtra and thereafter the registered Office of the company was shifted to State of Haryana on November 9.08 crores.Information Memorandum Stock Market Data Month September 04 October 04 November 04 December 04 January 05 February 05 March 05 NSE High (Rs.9509 13.00 310.) 208.30 244.) 210.00 BSE Low (Rs. Mr. Om Prakash Jindal Mr.0001 0.00 252.) 197.) 197.00 294.00 The market price of shares of the company (as on March 31.90 242.0000 . Particulars of investor complaints during the period April 2004 to March 2005 are as follows: Complaints Received: 540.0001 0.00 282. in lacs) is given below: No.00 218. The Board of directors of the company comprises Mr.00 250. Naveen Jindal Mr. It is registered with RBI as Non Banking Finance Company and main business is to deal in securities.10 197.90 High (Rs. 1998. 2005) on BSE was Rs. Rajendar Gupta and Mr. Resolved/Replied: 520 and Pending:20.0488 100. (2) Jindal Holdings Limited The Company was incorporated on February 6. Mahesh Jain. 257. Sajjan Jindal Mr.50 251. depending on the type of complaint. The average time taken by the company for redressal of complaints varies from 7 to 20 days.00 268.80 330.00 239.00 292. 132.

28 0. The Company was registered with Reserve Bank of India as Non Banking Financial Company (not accepting public deposit) on 12th March 1998. 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.000 47.320.70) Nil 32. Goel.29 100.95 7.44 13.K.) FY03-04 1849. Jindal Strips Ltd Jindal Equipment Leasing & Cons.) FY03-04 167.05 FY02-03 1849.13 (77.433. The Company is engaged in the business of finance.3 FY02-03 167.12 83.55 No.112. Investment M/s R.250 27.256.581.750 181.Information Memorandum Particulars Share capital Reserves and surplus (excluding revaluation reserves) Turnover /receipts Profit /(loss) after tax Dividend (%) EPS (Rs.84 3.750 181.758.717.00 (excluding .040.12 3.44 14.658.60 FY01-02 167. P.12 5.61 12.000 551.21 0.98 5699.200 2.27 - .) BV (Rs.581.420. D.12 24. Sunil Mittal and Mr.67 FY01-02 1849.01 (216. Investment and finance related consultancy services.525 16. Pental Holding Ltd.31 14.732.250 4. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Mansarover Investments Ltd Ever plus Securities & Finance Ltd Jindal Steel & Power Ltd.05 17.420. Ltd.06 441.63) Nil 33. P.) BV (Rs.581.750 181.72 NIL 0.37 (298. Services Ltd M/s R. Heston Securities Ltd.10 (10.92) NIL (0.74 18.000 640. Investments Beaufield Holdings Ltd Templar Investment Ltd. Estrella Investment Co.477.927.242.000 2.433.08 (3) Stainless Investments Limited This Company was incorporated on September 15.954.025.08 NIL 0.41 6.420.44 14.000 2.44 14.420.175 % of shareholding 6.08) Nil 34.000 1.983.627. Sharma.000 1.82 0. The Board of directors of the company comprises Mr.000 2.457.98 5699.98 5699.62) 17. of Shares 1.000 160. Mr.450 52.000 2. Mahender Kr.433. 1982 as a Private Limited Company and converted into a public limited company.250 17.

68 FY02-03 1. D.816. Services Ltd Jindal Strips Ltd.500 300.00 (excluding (5) Jindal Equipment Leasing and Consultancy Services Limited The Company was incorporated on March 29. The Company is engaged in the business of finance. Ltd. Ratan Jindal. D.383 (22.000 1.800 223.54 1. S.856.038. 1981 as a Private Limited Company and subsequently became a public limited company.000 218.78 13.000 1.816.15 12. S. K.500 912.000 1. Templar Investment Ltd.697.823. The Board of directors of the company comprises Mr.597.44 100. Pental Holding Ltd.83 6.0023 NIL 0. 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.) BV (Rs.500 199.823.816.828.800 % of shareholding 0.000 218.000 35.28 - . Ashok Goel and Mr.01 2. Goel. of Shares 115. Estrella Investment Co.000 1. Mr.17 7.000 340. The Company was registered as NBFC with Reserve Bank of India (not accepting public deposit) on September 25. Investment and finance related consultancy services.816. Stainless Investments Ltd.783 2.5 20.124. K.22 19.60 1. Mr.538.000 1.01 13. Beaufield Holding Ltd.000 15. Jindal Holdings Ltd.538. With effect from August 7.500 10. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Abhinandan Investments Ltd.816.000 13. 1998.000 13.61 18.) FY03-04 1. 1984 as Jindal Equipment And Finance Limited.000 218.The Company is registered with RBI to carry on the business of Non Banking Financial Company. Jindal Equipment Leasing & Cons.000 1.85. Shallu Jindal. 1986 the name of the company was changed to Jindal Equipment Leasing & Consultancy Services Limited . Board of directors of the company comprises Mrs.Information Memorandum (4) Mansarover Investments Limited Mansarover Investments Ltd was incorporated on June 8.9 No.831) NIL 1.39.39.442 NIL 1. . Goel.39.01 13.01 13. Ltd.517. Manjula Finances Ltd. Saxena and Mr.823. Heston Securities Ltd.953.538. Vrindavan Services Pvt.17 FY01-02 1.43 2.726 21.01 13.

000 302.45 34. P. Jindal.792 48. Vrindavan Services Pvt.000 521.000 23.21 19.07 1.000 500.750. 1981 and is engaged in the business of finance.193.57 18. Ltd.Ltd. Mr. Investment and finance related consultancy services.Information Memorandum Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Abhinandan Investments Ltd. Gagan Trading Co Ltd. Ltd.476 11.29 17. Subhash Chandra Sharma.00 77.300 1.000 23.003.700 % of shareholding 3.30.000 1.127.43 100.) BV (Rs. of Shares 248.327 NIL 6.000 115. Renuka Financial Services Ltd Jindal Holdings Ltd.000 100. The Board of directors of the company comprises Mr.000 23.500 285.95 3.000 65.600 (10.47 1.732.29 1. Subscribed & paid-up) 7. On March 21. Other individuals/HUFs Total Financial performance The financial performance of the company is given below Particulars Share capital (Issued.732.000 19. Musuko Trading P.394. Jindal Strips Ltd. 10/-each 2.26 40.000.000 13.49 5. Shareholding Pattern The shareholding pattern is as follows: . Aras Overseas P.568.000. R.000 419.900 7.51 77.531.465. Ltd. 100/-each Reserves and surplus (excluding revaluation reserves) Sales PAT Dividend (%) EPS (Rs.000.39) 33.20.000 302. S.000 1.80 6.570 NIL 1.29 - .000 40.) FY03-04 FY02-03 FY01-02 No.000 302.74 14. Sun Investments Pvt.) NIL (1.69 6.000 100.815. S.000 10% Cumulative Redeemable Preference Shares of Rs.630.327. 1998 the Company got registered with Reserve Bank of India as Non Banking Financial Company (not accepting public deposit).750.77 77.750.06 (6) Nalwa Investments Limited The Company was incorporated on February 6. Stainless Investments Ltd.700 Equity Shares of Rs. Mansarover Investments Ltd.327.327.531. Saxena and Mr.

30 No. O.Jindal & Sons HUF .038.000 Nil 39. Mr. 1983 and is engaged in the business of finance.50.26 5. Sunil Mittal and Mr.05 5. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Arti Jindal Naveen Jindal Sajjan Jindal S. On March 19.P.Jindal R.000 Equity Shares of Rs.101 (2.34 1.000 140.700 100 10.000 10% Cumulative Redeemable Preference Shares of Rs.753.000 Nil 36.13 7.35) NIL (5.713.650 23.33 .8) 4.99 100.400 32.59) (189) 4.00 FY03-04 FY02-03 FY01-02 4.000 Nil 12.400.000 % of shareholding 0.10 5.221.850 197950 450.) BV (Rs.000 19. The Board of directors of the company comprises Mrs.517.Jindal & Sons HUF P. Sun Investments Ltd. There has been no trading in shares in preceding six months (7) Abhinandan Investments Limited The Company was incorporated on April 6.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.222 (8.000 140.14 5. 100/-each Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs. 10/-each 1. of Shares 1.000.13 (136.K.Jindal & Sons HUF S.650 % of shareholding 0.5) This company is listed on Delhi Stock Exchange Associations Limited.000.500.89 4. Deepika Jindal. the Company got registered with Reserve Bank of India as Non Banking Financial Company (not accepting public deposit).35 0.705 23. Subscribed & Paid-up) 4.) No.59) Nil (18.26) (183.000 140. of Shares 200 10. Investment and finance related consultancy services.100 34. Parmod Garg.550 5.150 23.31 7.34 NIL 52.74 43.701.500.572.500.19 24. 1998.457.K.000.Information Memorandum Name of the Shareholder Abhinandan Investments Ltd. & Finance Ltd.R.K.350 112. Everplus Sec.356.

Mr.A. Financial performance The financial performance of the company is given below Particulars Share capital (Issued.502. 1983 on Delhi Stock Exchange Associations Limited.000 8. 2005. Devi Dayal.850 10. Mr. Subscribed & Paid-up) 2. a subsidiary of Jindal Strips.R.J.e. H. Satya Prasad and Mr. As part of backward integration.25 0. V.000.3) 2.060.28 (199. Mr.10.50 4. Swastik Foils was amalgamated into the company in 1988-89. w.000.255.050 200.03 100.000 81. was merged with the company in 1991-92.409.000 5. Mr. M. Sminu Jindal.) (Equity Shares only) FY03-04 FY02-03 FY01-02 2. A.741 (3. Kuldip Bhargava. January 11.Information Memorandum Savitri Devi Jindal Deepika Jindal P. 10/-each 8.945.00 Shares of the Company were listed on November 28.83 5.33 6.000 81. Swastik Udyog. There has been no trading in shares in preceding six months.HUF Ever plus Securities & Finance Ltd Sun Investments Pvt.Jindal . Mr.000 92.000.986. The company is an established player in the country for manufacturing and coating large diameter Submerged Arc Welded (SAW) line pipes.650 13.70) NIL (15.43) (291.51) (276) (8) Jindal Saw Limited The company was incorporated on October 31. 1984 as Saw Pipes Ltd.f.812 18.650 23.37 NIL 91. Chaudhary. 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. Shareholding Pattern . Savitri Devi Jindal (Chairperson) Mr.) BV (Rs.086. Moosa Raza. Ms. 100/-each Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs.650 10. Purshottam Lal. Tauro.00 0.33 11.000 81.000 Equity Shares of Rs. S.000.000.000 Nil 13.000 500 1.000. R. which produces thicker gauge steel strips.132.000 Nil 23.9) 2.00.31 - .907.000 10% Cumulative Redeemable Preference Shares of Rs.127 (7.000 8.43) Nil (37.00 46. P. Ltd Stainless Investments ltd Mansarover Investments ltd Nalwa Investments ltd Jindal Strips Ltd Others Total 10. The board of directors of the company comprises Smt. Mr. Jindal.93 5. The name of the company was changed to Jindal Saw Ltd.00 4.000 Nil 20.

50 235. 287.13 42.30 244. 3.90 287.50 -55.34 15% 10.Total B.Foreign Promoters Persons acting in concert Sub .558 3. d. c. 17.60 242.00 236.631.) 183.Information Memorandum The shareholding pattern as on March 31.Total Others Private Corporate Bodies Indian Public NRIs / QCBs Any other (please specify) Sub .43 102.58 2002-03 38.98 290. Institutions/NonGovt.90 2001-02 46.00 BSE Low (Rs.979. 4.90 High (Rs.50 304.457.874.95 236.419 1763356 4864705 6262320 -12.05 -7. 2005 is as follows: Category Promoters Holding Promoters: .30 56.00 182.88 4.35 242. 2.65 crores. depending on the type of complaint.98 335.381 38.55 9.07 100.755. Financial Institutions. b.05 180.264 4.80 242.68 754.) 200. 1.659.48 225. Non Promoters’ Holding Institutional Investors Mutual Funds and UTI Banks. Insurance Companies (Central/State Govt. b. The company has engaged the services of a Registrar & Transfer Agent to handle the grievances of the investors.00 191.40 Low (Rs.355 97.) Stock Market Data Month October 04 November 04 December 04 January 05 February 05 March 05 NSE High (Rs. Institution.Indian Promoters .00 305.41 91.30 235.25 212.458 4.100 -21.890.658 -2.60 249.00 192.05 285. 2005) on BSE was Rs. of shares % of shareholding A.) 205.00 2003-04 38.702.05 215. 2005.35 The market price of shares of the company (as on April 5. . in crores) is given below: Equity Share capital Reserves and surplus (excluding revaluation Reserves) Sales (including Excise duty) PAT Dividend (%) EPS (Rs.25 c.26 11. a. 2004 to March.08 25% 19. a.24 25% 14.Total Grand Total No.34 804. 1.50 and the market capitalization was Rs.32 - .96 76. The average time taken by the company for redressal of complaints is up to 15 days.800 45.37 0. Foreign Institutional Investors Sub .) 188.32 76.) BV (Rs.56 1123.50 250. Nil complaints were received and pending from Equity shareholders during the period December. 1120.52 -33.00 Financial performance The financial performance of the company (Rs.

Institution. 4.89 Nil (1. M. in lacs) is given below: Particulars Share capital (including preference share capital) Reserves and surplus (excluding revaluation reserves) Sales PAT Dividend (%) EPS (Rs.04% 0.21% 82. R. R.00% Shares of the Company listed in April.Govt.59) 10.Total Others Private Corporate Bodies Indian Public NRIs / QCBs Any other (please specify) Sub . 1983 on Calcutta Stock Exchange Association Limited and no trading has taken placed during last 6 months. Jain. c. The Board of directors of the company comprises Mr.) FY-03-04 224 0. c. a. Financial performance The financial performance of the company (Rs. Gupta.Total B.41) Nil (0. Insurance Companies (Central/State Govt. Foreign Institutional Investors Sub . P. 1. Institutions/Non.82) 10. d. The Company has not issued any rights or a public shares in last five years.56) Nil (84.84 10. 2.37 FY-02-03 224 0.Total GRAND TOTAL No.) BV (Rs.37 FY-01-02 224 0. NON PROMOTER’S HOLDING Institutional Investors Mutual Funds and UTI Banks.75% 99. a.33 - . Shareholding Pattern The shareholding pattern is as follows: CATEGORY PROMOTERS HOLDING Directors Persons acting in concert Sub . Swami and Mr. L.04% - A.Information Memorandum (9) Colorado Trading Company Limited This Company was incorporated on January 17.89 Nil 74. 1983 and is in the business of investment and trading in shares.89 Nil (203. 3. Mr.00 Nil 30.37 (10) Gagan Trading Company Limited . of shares 100 100 % of shareholding 0. R. Financial Institutions. 41300 198600 239900 240000 17. b. b.96% 100.

000 20.65) 471. Ltd. trading in securities and providing management consultancy services.30.30.000 20.30.09 (2168. Jayaraman.000 1. Mr. Rajeev Pai.06 7.91) FY 03 1715.000. Mr.38) (9.68) 54.000 20. trading in securities and providing management consultancy services.71 13.64) (8. Estrella Investments Ltd.) FY 04 1715.25 .90 (3344. The shares of the Company are listed on the Calcutta & Uttar Pradesh Stock Exchanges. of shares 67. Bavneesh Gulati.S. Gagan Trading Co. P.65) (8.49. Others Total Financial performance The financial performance of the company (Rs.53 6. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Sun Investments Pvt.30. Heston Securities Ltd. Nacho Investments Ltd.564.000 % of shareholding 39.564.R. R.Information Memorandum The Company was incorporated on January 31. in lacs) is given below: Particulars Equity Share Capital Reserve and Surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs. Board of directors of the company comprises Mr. Templar Investments Ltd.34 - .68 7. It is into the business of investments.71.250 2. 1983 as a public limited company.000 20.” with effect from March 29.100 2.R. 2002. Sriram. Kole and Mr. Shareholders Sun Investments Pvt. Mr.75 *(0. The Company has not come out with any Rights or Public issue in the last five years.450 2.900 % of shareholding 21. 1997.000 2.40 11.000 20. P. Ltd. (11) Vrindavan Services Private Limited (VSPL) Vrindavan Services Private Limited was incorporated on April 8. of Shares 7.40) No. 1982 as a Private Limited Company and converted into a public limited company “Vrindavan Services Ltd.000 3.877. Ltd.97) *(2.83 11.60.269. Beaufield Holdings Ltd.000 5.30.600 2.83 1. Beaufield Holdings Ltd.) BV (Rs. Kole and Mr. Heston Securities Ltd.90 (3150. Board of directors of the company comprises Mr. K.52) FY 02 1715. Pentel Holdings Ltd. No. Mendeza Holding Ltd.59.45 100.83 11.83 11.880.77 10.90) 533.06 6.79 102. The company was reconverted into a private limited company on April 5.83 11.N. The company is carrying on the business of investments.369.00 * EPS has been arrived at after considering Dividend on Redeemable Cumulative Preference Shares.90 (3241. Bavneesh Gulati.42) (12.99 (193. Sarmento Holdings Ltd.

19 4.71 6. D.) (12) Sun Investments Private Limited FY 04 3629.17) (0.18 0.300 2.25 6. Ltd.13 50.39 0. Aras Overseas Pvt.01 58. Ltd. Mr.400 % of shareholding 40.27 4. Ltd.51 (31.052.000 340. Ltd.000 340.24 2061.80) (0. Jindal Holdings Ltd.711.000 340. V. Mr.513.55 7. P.09) 15. Mr.94 0.119.00 The financial performance of the company (Rs. Garg.00 0.35 - . Nacho Investments Ltd.25 6. 1981 as a private limited company and converted into a public limited company “Sun Investments Ltd.001 401 36.96 1. trading in securities and providing management consultancy services.100 4.18 . Baltimore Trading Pvt.66 5. Estrela Investment Co.207.269.98 0. Kamshet Investments Pvt.000 710.40 249. The company was reconverted into a private limited Company on February 18.89 5. Jindal Coated Steel Pvt. Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Jindal South West Holdings Limited Jargo Investments Ltd.73 5. Estrela Investment Co.86 FY 02 1644. Pentel Holdings Ltd.500 64.299.74) 11.119.94 0.94 0. The company is in the business of investing.50 (121. Ltd. Vavasa Investments Ltd. Ltd.25 1.269. Jargo Investments Ltd. 1990.000 65. Its board of directors comprises Mrs. Jindal Total Financial performance 2.00 100.300 11.94 2681.69 17. Naman Enterprises Pvt.000 340. No. 2003. Sangita Jindal (Managing Director). Ltd.32 141.33 Sun Investments Private Limited was incorporated on June 2.989. Wachovia Investments Pvt.760. J.900 3.” with effect from October 15.40 355.800 3.000 2.18 0. in lacs) is given below: Particulars Equity Share Capital Share Application Money Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.700 4. of Shares 29.000 625.72 0. Musuko Trading Pvt.94 0. Ltd.Information Memorandum Templar Investments Ltd.) BV (Rs.39 FY 03 3518. Jindal Coated Steel Pvt.800 2. Ltd Mendeza Holding Ltd.300 5.000 140.00 219. Pentel Holdings Ltd. Ltd. Deepak Bhat and Mr.400 1.402 6. Ashok Goel. Sarmento Holdings Ltd.269.

30 10532. Ltd.800 6. Vrindavan Services Pvt.999 300. Sminu Jindal Vrindavan Services Pvt.03 27. Tanvi Jindal Jindal Strips Ltd.500 13.04) 26.500 17. Jindal (HUF) Mr.000 239.05 0.200 2.58) (0.02 0.20 161. Mr.01 0.R. it is in the business of Investments and trading in securities. Templar Investments Ltd.06 0.50 . Naveen K. Kole and Mr.28 2.Information Memorandum Beaufield Holdings Ltd.46 12.55 FY 02 5827.02 0.Jindal O.000 46.) BV (Rs.36 - .07 Incorporated on August 11.100 39.700 23.500 10.08 0.84 0. Ltd.033.04 0. Everplus Securities Pvt.) (13) Meredith Traders Private Limited FY 04 7149.76 4051.000 14.84 2.000 100 71.89 733.02 0. Savitri Devi Jindal Ms. Heston Securities Ltd.900 60. Jindal Mr. The Company’s Board of Directors comprises of Mr.00 100.28 12649.01 0. Tarini Jindal Ms.07 0. Ltd. P. Ms.000 51.000 8. Ratan K .01 0. P .34 0. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation Reserve) Income PAT Dividend EPS (Rs. Tripti Jindal Ms. of Shares 1.201. Abhuday Jindal Ms.03 0. Shareholding Pattern The shareholding pattern is as follows: Shareholder Gagan Trading Company Ltd. Puran Chand Sharma Total Financial performance 2.001 898.000 % of shareholding 50.22 0.01 0. Deepika Jindal Colorado Trading Co. No.02 0.492.300 30.00 The financial performance of the company (Rs.033.61 (28.300 10. Vavasa Investments Ltd.100 10. Om Prakash Jindal Ms.13 1828.01 0. Jindal Ms.28 28. Mr.27 11796.400 13. Urvi Jindal Ms. R.01 0. Deepak Bhat.347.59 1.68 FY 03 7119. Mr.000 5.75 4395.000 6. Ltd.800 3. Sangita Jindal Mr.600 2.04 37. 1993 as a private limited company. P.01 0.

86 54.99) 8. Ltd. investments in capital markets and providing consultancy services. Total Financial performance 1 1 2.13 2002-03 2400.62) (481073) (36253673) FY 02 0.59 75.07 21.400.12 (76. Silky Investments Pvt.00 (1889.01 12. Mr. Damani Mr.89) (14) Reynold Traders Private Limited The Company was incorporated on September 1.) BV (Rs.00 (4574.002 (715.62) (3.39) 14.00 (15) Templar Investments Limited Templar Investments Limited was incorporated on June 30. R.00 0.002 (725.31) 2001-02 2400. Sunil Damani Total Financial Performance The financial performance of the company (Rs.60 (330. Mr. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.58 2729130 (33524543) FY 03 0. 1993. Jayaraman and Mr. Dev Joory.82 1801.19) (90.00 50. Board of directors comprises Mr. Shareholding Pattern The shareholding pattern is as follows: Shareholder Mrs.002 (670. Prithvi Raj Jindal. Kole.00 100.53 (9. of Shares 1 1 2 % of shareholding 50.52 (90.61) (16530489) (35772825) No.11) 3030. Couldip Basanta Lala and Mr. Ltd.00 100. Pradip Gaad. The company’s board of directors comprises Mr. It carries out activities of holding and letting out of property.100 each) Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs. .Information Memorandum Gauri Investments Pvt.) FY 04 0. R. 100 each) Reserve and surplus Excluding revaluation reserve Income PAT Dividend EPS Rs BV Rs 2003-04 2400. P.08) 19. 1997.00 (4562. Sangeeta S.37 - . It carries activities of investments and dealing in shares and securities.00 The financial performance of the company (Rs. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.60 0.45) 16.002 0.40) 115.

00 3.500 1.02 5000 10878633 3784318 3631866 -726 2177 31.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 31.12. Couldip Basanta Lala and Mr. Dev Joory.800 200 7.00 26. It carries activities of investments and dealing in shares and securities.03 7000 11396160 575602 564250 -81 1629 31.00 . 1997.12.02 7000 10831910 3784920 3591007 -513 1548 31.12.01 5000 7296767 3015505 2670935 -534 1450 No. of Ordinary Shares 5.000 % of shareholding 70.000 % of shareholding 71.03 5000 11439760 572657 561127 -112 2289 31.00 100. of Ordinary Shares 3.000 1.00 100. Mr. Mr.01 7000 7240903 3016130 2672687 -382 1035 No.38 - .12. Pradip Gaad.400 100 5.00 28. Prithvi Raj Jindal. Board of directors comprises Mr.00 2.00 (16) Heston Securities Limited Heston Securities Limited was incorporated on June 30.12. 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 31.12.

Andry Tryphonos and Mr.01 1942 (3063112) 39504 No.12.03 1942 (3136527) 137015 31. 1996.10 100. Mr. Pradip Gaad. Mr. Prithvi Raj Jindal. It carries on activities of investments and dealing in shares and securities. It carries on activities of investments and dealing in shares and securities.00 100.12.12.000 % of shareholding 65.000 % of shareholding 99. Board of directors comprises Mr.00 (18) Jargo Investments Limited Jargo Investments Limited was incorporated on July 29. Tasoula Georgiou.03 1942 (424514) 116024 109264 -109 -31.12. of Ordinary Shares 650 340 10 1.12.02 1942 (3266074) 63406 31. Prithvi Raj Jindal. 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. Board of directors comprises Mr.39 - . of Ordinary Shares 999 1 1. Pradip Gaad.01 1942 (384863) 153638 45256 -45 -No. Andry Tryphonos and Mr.Information Memorandum (17) Vavasa Investments Limited Vavasa Investments Limited was incorporated on June 18. Mr. Tasoula Georgiou.90 0.12. 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 31.00 . Mr. 1997.00 1.02 1942 (533740) 63350 (148877) --31.00 34.

00 2. Mr.50 100.50 0.03 1942 (424786) 133418 126504 -126 -31. It carries activities of investments and dealing in shares and securities.12.Information Memorandum PAT/(Loss) Dividend EPS BV 129548 -130 -- (202962) ---- (497541) ---- (19) Sarmento Holdings Limited Sarmento Holdings Limited was incorporated on June 18. Board of directors comprises Mr.02 1942 (551289) 61227 (116050) ---31. Pradip Gaad. 1997.01 1942 (435239) 172323 (10648) ---No. 1997. of Ordinary Shares 550 445 5 1. Tasoula Georgiou. Mr.00 Beaufield Holdings Limited was incorporated on June 30.000 % of shareholding 60. Pradip Gaad. It carries on activities of investments and dealing in shares and securities. 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 31.000 1. Mr. Dev Joory. Couldip Basanta Lala and Mr.900 100 5.12. 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: No.00 38.000 % of shareholding 55.00 100. of Ordinary Shares 3. Andry Tryphonos and Mr.00 . Prithvi Raj Jindal. Prithvi Raj Jindal. Mr.00 44.40 - .12. The company’s board of directors comprises Mr.

00 1. Prithvi Raj Jindal. It carries on activities of investments and dealing in shares and securities. Mr.00 23.02 5000 10791447 3786975 3622069 -724 2159 31.03 6000 11309499 569872 558239 -93 1886 31.12.12.01 6000 7160578 3014513 2569236 -428 1194 No. Prithvi Raj Jindal. of Ordinary Shares 660 330 10 1.12.00 100.400 100 6. Mr. Pradip Gaad. Mr. Pradip Gaad and Mr.12. Tasoula Georgiou. Board of directors comprises Mr.00 33. Mr. of Ordinary Shares 4. Couldip Basanta Lala and Mr.Information Memorandum Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS BV (21) Pentel Holding Limited 31. 1997.41 - . Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Prithvi Raj Jindal Pradip Gaad Other – Nominee Total No.00 .00 100.00 2.02 6000 10751260 3783357 3590681 -598 1793 31.500 1. It carries activities of investments and dealing in shares and securities.03 5000 11464486 685951 673039 -135 2294 31. Board of directors comprises Mr.00 Mendeza Holdings Limited was incorporated on June 18. 1997.12.01 5000 7169378 2997354 2615193 -523 1435 Pentel Holding Limited was incorporated on June 30. 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. Andry Tryphonos.12.000 % of shareholding 75. Dev Joory.000 % of shareholding 66.

Pradip Gaad and Mr. Andry Tryphonos.00 31.000 1.00 (24) Nacho Investments Limited Nacho Investments Limited was incorporated on April 18. It carries activities of investments and dealing in shares and securities.12.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. 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. Prithvi Raj Jindal.12. Mr.01 6000 7163300 3002215 2547719 -425 1195 No. Prithvi Raj Jindal.01 1942 (543834) 184478 (13371) ---- (23) Estrela Investment Company Limited Estrela Investment Company Limited was incorporated on June 30. 1997. It carries on activities of investments and dealing in shares and securities.12.12. of Ordinary Shares 4. Board of directors comprises Mr.03 6000 11381086 600079 586976 -97 1898 31. Mr.12.000 % of shareholding 67.12. Tasoula Georgiou.880 120 6. Pradip Gaad. Mr. Couldip Basanta Lala and Mr. The company’s board of directors comprises Mr. Dev Joory.00 100.02 1942 (670762) 63359 (126928) ---31. Mr. Shareholding Pattern The shareholding pattern is as follows: .00 2.42 - .03 1942 (537985) 144577 132778 -133 -31. 1997.

Mr.00 44.02 1942 (577071) 63395 (104145) ---31. Subir Bisht. Mr.2005 is as follows: Sr. L. No. Ltd. Ferro Chrome and Steel Products like slabs. parallel flanges and billets. The company has a unit in Raigarh.000 % of shareholding 55. Raigarh and Raipur divisions of Jindal Strips Ltd. blooms.03 1942 (446781) 136498 130292 -130 -31. Vikrant Gujral.43 - .. Singh Pasrich. Mr. on June 12. Subsequently. The board of directors of the company comprises Mr.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. Anand Goel. Rajendra Singh. Maroo and Mr. which is engaged in production of Sponge Iron. Mr. Ratan Jindal.Information Memorandum Name of Shareholder Prithvi Raj Jindal Pradip Gaad Other .00 100.12. 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.’ on May 27. It is also engaged in generation of power. Mr. Harsh Vardhan Lodha.Nominee Total Financial Performance No.Indian Promoters i) Corporate Bodies + Resident Indian No.00 1. Sushil K. Gupta. of Ordinary Shares 550 440 10 1. Mr. Amir Z. 1998. The company’s unit at Raipur is engaged in machining. The company has captive iron ore and coal mines at Tensa in Orissa and Mand area in Raigarh in Chattisgarh respectively.12. A 1 Category Promoter's Holding Promoters . 1998. the name of the company was changed to Jindal Steel & Power Ltd.01 1942 (472926) 163626 (17783) ---- (B) (1) Promoter Group Companies Jindal Steel & Power Limited (JSPL) The company was incorporated on September 28.03. of Shares % of Shareholding 16256093 52.79 . Naveen Jindal. Shareholding Pattern The shareholding pattern as on 31.12. were transferred to and vested in the company from April 2. 1979 as Orbit Strips Pvt. Mr. which was converted into a public limited company ‘Orbit Strips Ltd. 1998. M.

00 2001-02 12. 05 March.) 623.00 964.00 628.50 821.) 795.00 195.80 1561.90 1030.00 833.00 2003-04 15.Information Memorandum 2 B 3 a b ii) OCBs+Non Resident Indian .) 663.00 920.33 654.79 145.95 834.35 824. 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. in crores) is given below: Particulars Equity Share capital Reserves and surplus (excluding revaluation reserves) Sales (including Excise duty) PAT Dividend (%) EPS (Rs.00 1103.90 452.33 18.43 c 4 a b c d 3795642 5592768 1420514 4546914 510135 45044 6522607 30792268 12.00 Financial performance The financial performance of the company (Rs.00 Low (Rs.41 0.18 1.109.46 200% 100.00 1000.35 964.) BV (Rs.08 125% 52.40 839.00 1262.00 1104.22 107.Foreign Promoters Person acting in concern Sub-Total Non-Promoters Holding Institutional Investors Mutual Funds and UTI Banks. Financial Institutions.61 14. 2005) on BSE was Rs.00 851. 05 NSE High (Rs.65 1664578 132548 5.86 60.40 and the market capitalization was Rs.) Stock Market Data Month October 04 November 04 December 04 January 05 February.16 4.55 70% 38.00 692.44 - .66 0.00 180.00 1026. 3215 crores.22 277 2002-03 14. .00 Low (Rs.18 100.00 1259.77 1. 1044.) 796.00 BSE High (Rs.15 21.05 915.00 1000.00 860.63 558.49 305.00 The market price of shares of the company (as on March 31.

A.38 8. Mr.735. The board of directors of the company comprises Smt. The average time taken by the company for redressal of complaints is up to 21 days.Ltd 4. Dr.46 1.23 8.845 ii Gagan Trading Co. Singhal.50 2. Promoter’s holding 1 Promoters: Indian Promoters: I Colorado Trading Co.443.012.22 2.92 . 1.f.615.89 2. 2003. rights. Garg and Mr. plates and sheets.080 ix Vrindavan Services P. 2. asset. 2. Ratan Jindal. Under the scheme of Arrangement and Demerger among Jindal Strips Limited and Jindal Stainless Limited.290 % of shareholding 1. 3. 2002 (the appointed date). Mr.19 4. Naveen Jindal.945 viii Manjula Finances Ltd 1.05 3. 2.078.705 x Hexa Securities & Finance Co. Ltd.797.835 v Mansarover Investments Ltd. Category No. Suman Jyoti Khaitan.157. The name of the company was changed to Jindal Int.555 xii Saw Pipes Ltd.410.110 vii Stainless Investments Ltd. 2001 and further to Jindal Stainless Limited on January 27.946. 1. Rajinder Parkash.780 iv Everplus Securities & Finance Ltd 1. 1980 as Jindal Ceramics Limited.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.G.999. powers and liabilities in respect to stainless steel undertaking stood transferred to and vested in Jindal Stainless Limited w. Mr. blooms.315.31 0. 2005 is as follows: Sr. Mr. Resolved/Replied: 50 and pending: 1 (2) Jindal Stainless Limited The company was promoted by Mr. L./Jindal Saw Ltd. Shareholding Pattern The shareholding pattern as on March 31.45 - . Ratan Jindal.707.454.K. hot rolled and cold rolled coils. Ltd 5.45 1.e.296.210 vi Nalwa Investments Ltd. Complaints Received: 50.com Limited on January 25. R. Mathur. N.710 xiv Others 5. Particulars of investor complaints during the period January to March 2005 are as follows: Opening balance: 1. Ltd. 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. flat bars. Savitri Devi Jindal (Chairperson) Mr. C. April 1.55 1. vide Punjab & Haryana High Court order dated May 31. 2003. Ltd 2. of shares held No. the stainless steel undertaking from Jindal Strips Ltd with all the property. The company was originally incorporated on September 29.11 5.375 xiii OCBs 8.92 4. Ser.295 iii Sun Investments Ltd 9.800 xi Jindal Equipment Leas & Con. depending on the type of complaint.

760 2.) 77.Government Institutions) i. 3 a.20 2003-04 19.80 1989. i.08 55.220. Institutions / Non.17 20.269 4.10 1. ii FID Fund Mauritius Ltd.80 100.0001) - .30 BSE Low (Rs.19 100% 17.46 - .15 60% 9.54 c. b.891 56.48 7. b.423 1.909.20 269.909. c.272 22.98 530. ii Others Any other (pending allotment) Sub-total (4) Sub-total (B) Grand-total (A+B) 3.932.24 2605.223. Financial performance The financial performance of the company (Rs.115 975 40.93 90.189.) BV (Rs. Sub-total (3) Others: Private Corporate Bodies i.608 2.93 0.50 Low (Rs. Financial Institutions.13 2001-02 0.) 76.0007 (0.524 1. American Express Bank Ltd ii Life Insurance Corporation of India iii Others FIIs. 4 a.57 2002-03 13.00 36.844 2.58 164.) 94.Information Memorandum 2 B.) Stock Market Data Month October 04 NSE High (Rs.883.01 48.998.02 0. Latin American Investment Bank Bahamas Ltd.656 9.977.38 2.727.) 93.022.345 0.00 High (Rs. -Foreign Promoters Persons acting in concert Sub-total (A) Non-Promoters Holding Institutional Investors Mutual Funds and UTI Banks.41 51.55 2.83 391.437 16. Indiabulls Financial Services Ltd Ii Others (Companies) Indian Public NRIs/ NRI Companies/OCBs i.697.19 4.997.00 d.500 7.24 9. Insurance Companies (Central/ State Govt.070 0.30 58.499 109.810 52. Others (FIIs) 5. in crores) is given below: Particulars Equity Share capital Reserves and surplus (excluding revaluation reserves) Sales (including Excise duty) PAT Dividend (%) EPS (Rs.10 1.498 520.47 15.204.

318.000 10. Mr. Sharma and Mr.55 110.000 22. The average time taken by the company for redressal of complaints varies from 7 to 25 days. depending on the type of complaint.86 crores.20 88.00 The market price of shares of the company (as on March 31.000 2. Ltd. Particulars of investor complaints during the period April 2004 to March 2005 are as follows: Complaints Received: 490.318.00 78.F Master Parth Jindal R.F O. The Company is engaged in the business of finance.K. Wachovia Investment P. Ashok Goel.40 96.75 91. Ltd.11 5.95 106.000 1.86 2. Ltd.000 3.Information Memorandum November 04 December 04 January 05 February 05 March 05 89.00 0.98.570.520. Jindal Holdings Ltd.318.04 0.010.15 87. Baltimore Trading P.000 1. Total Financial performance No. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Naveen Jindal H.000 1. Musuko Trading P.16 13. Sunil Mittal.00 .90 78.47 - .675.U.30 8.U.000 1.04 0.000 1.U. Jindal H.170.90 111.660. Brahmputra Cap & Fin Ltd. D.32 2.000 10. Ltd.25 and the market capitalization was Rs. (3) Manjula Finances Limited The Company was incorporated as Private Limited on February 1.81 5.000 600.33 2. Aras Overseas P.015.81 100.81 5.000 10.000 1.P.000 1.U. Kamshet Investment P.00 11. Resolved/Replied: 478 and Pending: 12.000 10 10 2.60 6.81 5.R. Vrindavan Services Pvt.50 91. P. Gagan Trading Co Ltd.04 0.000 590.000 1.65 5.00 80.95 106.70 80. Ltd. The company has engaged the services of a Registrar & Transfer Agent to handle the grievances of the investors.000 10. 2005) on BSE was Rs. of Shares 10. Manjula Finances Ltd. is NBFC (not accepting public deposit).17 11. Jindal & Sons H.318. Board of Directors includes Mr.318.70 91.40 96.75 90.F P. 1997. Ltd.000 500.05 80.10 81.400.020 % of shareholding 0.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.81 5. Jindal & Sons H.000 2.00 87.04 0. 1079. 1995 and became Public Company with effect from March 31.21 7. Investment and finance related consultancy services.04 0.

14 2. Ltd.770.05 0. D.000 2.000 1.48 - .000.05 0.020 Equity Shares of Rs.000 486.05 0.25 2.000 10.75.750. Baltimore Trading P. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder P.00 18.355.55) 2. The Board of Directors comprising of Mr.69 6.660.500.500. Musuko Trading P. of Shares 10.533.000 486.726.78) 2.020.000 486.00 .000 590.R.670. Vrindavan Services Pvt.000 1.000 1.000 1.05 0. Ltd.000 1. Parmod Garg.4 8.970.200 NIL 40. Investment and finance related consultancy services. Wachovia Investment P. Sharma.300.25 2. Vivek Goel and 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.827.) FY03-04 226.500.) BV (Rs.000 2.2 (12.25 100 .00 0.02 7. 10/-each Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs. The Company is NBFC (not accepting public deposit) and engaged in the business of finance. Ltd.56 FY02-03 226.71 (4) Renuka Financial Services Limited The Company was incorporated as Private Limited on February 1.73 11.58 12. Jindal Naveen Jindal H. Jindal O.17 FY01-02 226.6 (17. Total No. Kamshet Investment P.000 21.200 NIL 6.55) NIL (0.000 486.05 0.858. 1995 and became Public Limited with effect from March 31.000 10 10 4.750.590. Mr.74 8.U.40 2.26.20 7. Gagan Trading Co Ltd Jindal Holding Ltd.25 2. Ltd.802.220.P. P.000 1.000 10.750.95 6.871.620.509. Nalwa Investments Ltd.25 2.95 2.445.000 486.Information Memorandum The financial performance of the company is given below Particulars Share capital 2. 1997.200 NIL 26. Aras Overseas P.19) NIL (0. Ltd.34 NIL 0.020 % of shareholding 0.53 6.000 10. Ltd.000 10.

000 3.13 7.950.660.924. Ltd.590. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Deepika Jindal P.754.000.05 0.4 NIL NIL 18754323 (23. Mr.625.000 Preference Shares of Rs.90 7.Information Memorandum Financial performance The financial performance of the company is given below Particulars Share capital (Issued.10) 2.000 1.) BV (Rs.00 .67 NIL 0.32 14. The Company is NBFC (not accepting public deposit) and engaged in the business of finance.020 % of shareholding 0.200 FY02-03 215.000 10.05 0.000 500.025. The Board of Directors comprising of Mr.) FY03-04 215.55) NIL (1. 1997.200 FY01-02 215.05 0. Jindal H. 100/-each Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs. subscribed & Paid-up) 21.000 21.05 0.U. Investment and finance related consultancy services.900.000 10.015.000 NIL 161907596 102.900. 10/-each 1.000 10.02 2.00. Total Financial performance No.000 1. Sanjay Agarwal.00 14. Deepak Goel.R.F Naveen Jindal H.000 1.00 0.40 100.200 10.36 (5) Ever Plus Securities & Finance Limited The Company was incorporated on November 24.000 1.900.000 10 10 3.000 10.170.38 5.05 0.000 710.750. 1994 as Private Limited and later on became public Company with effect from March 31. Vivek Goel and Mr.000 3.56 7.94 8.000.12 NIL 5.27 2.000.020 Equity Shares of Rs.000 NIL 98977652 605. of Shares 10.588.500.34 3.27 21.U.670.49 - .38 14.17 10.000 4.000.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.

250.270 (80. Foreign Institutional Investors Sub .57% 34.577. Insurance Companies (Central/State Govt. Financial Institutions. b.50 - .96% 100. 3.200 NIL 36. of Shares 100 100 % of shareholding 0. Financial performance The financial performance of the company is given below . Co. 1984 on The Calcutta Stock Exchange Association Limited and no trading has taken placed during last 6 months. 1984.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. The company is engaged in the Business of Cast Iron Foundry and changed the activities in heavy & Light Engg. P. Institutions/Non. 193342 108810 16967 319119 319219 60. c. Gupta.) FY03-04 210. Works (P) Ltd and later on the name was changed to Nalwa Engg.439 108. Swami and Mr.04% 0. M.323. The Board of Directors comprising of Mr.08% 5. Promoters Holding Directors : Persons acting in concert Sub . a.187.I.) BV (Rs.01) (1. Shareholding Pattern The shareholding pattern is as follows: Category A.Total GRAND TOTAL No.Total NON PROMOTER’S HOLDING Institutional Investors Mutual Funds and UTI Banks. Ltd. 2. 4. jobs under S.377. 1. B. a.026 (42.16 3. 1983. R.56) FY01-02 210.00% Shares of the Company got listed in September.250. d. b.606.56) (6) Nalwa Engineering Company Limited The Company was incorporated on December 3.00) (1.629. Institution.966) NIL (2. since December 21.6 FY02-03 210.65 NIL 5. 1957 as Sree Iron Foundry & Engg.643.250. on October 25. R.31% 99. L.200 NIL 148. R.200 NIL 12.82) NIL (0.S.04% - c.Govt.Total Others Private Corporate Bodies Indian Public NRIs/QCBs Any other (please specify) Sub . Mr. Jain.

85 11.61) Nil (10.855.000 496.05 0.56 (32.62 0. Ltd. Sunil Mittal.420. Ltd.670.R. Aras Overseas P.000 496.03 0.000 500. Total No. Ltd.170. Kamseth Investment P.65 2. 1995 and became Public Limited with effect from March 31.000 18.000 2.000 496.00 0.05 33. Jindal Master Parth Jindal Master Abhuday Jindal Manju Bansal Renu .83 Nil 11.000 1.05 28. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Naveen Jindal H.05 0. 1997.03 0.27 (Rs.000 1.38 37.000 810.33 8. The Board of Directors comprises Mr.F Savitri Devi Jindal Om Parkash Jindal P.000 10 10 1.220 % of shareholding 0.200 50. the Company got registered with Reserve Bank of India as Non Banking Financial Company (not accepting public deposit).000 600.600. Abhinandan Investments Ltd Nalwa Investments Ltd Bhramputra Cap. of Shares 10. Ltd.65 2. Ltd.27 (7) Goswamis Credits & Investments Limited The Company was incorporated as Private Limited on January 13.S.500.92 4. On December 5.722.00 .) FY-03-04 31.25 7.05 0. Baltimore Trading P.27 FY-02-03 31. Musuko Trading P.55 12.Information Memorandum Particulars Share capital Reserves and surplus (excluding revaluation reserves) Sales (Including Other Income) PAT Dividend (%) EPS (Rs.51 - .05 53.U.65 2.000 1.65 100.05 0.82) Nil (17. Deepak Goel.000 2.65 2.427.27 3.000 496. & Finance Ltd M\s Silver smith Gagan Trading Co.25 4.000 10.) BV (Rs.93 3.000 10. 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.67 6.000 496.35 2.00 8.92 4.20 15.000 5.15 2. Wachovia Investment P. 2002. Ltd.92 13.47 (54. Mr. Vivek Goel and Mr. In lacs) FY-01-02 31.22) 11.92 4. Ltd.17) 11.000 2.000 5.000 10.000 590.

11.397.Foreign Promoters 2.e. In the year 1996. Sandip Sharma and Mr.e. K.) (8) FY03-04 187.) BV (Rs. R.10.222. Sminu Jindal.Total NON PROMOTER’S HOLDING Institutional Investors Mutual Funds and UTI Banks. 1992.f.85) 2. Hot and Cold Rolling Mills.Indian Promoters .52 - . The Board of Directors comprises Mr.134.79 --46.626. PROMOTERS HOLDING 1. w.350 6.362.00 The Company’s Equity Shares are listed on The Delhi Stock Exchange Association Ltd.789. Mr. of shares % of shareholding 14. b. June 5.f.005. a.79) 1. 3. P..871.73) NIL (0.900 3.07 53. Foreign Institutional Investors Sub . 21 lakhs. Institution.02 --- --- c.650 2. Persons acting in concert B. Institutions/NonGovt.19 1. New Delhi w. 4. Insurance Companies (Central/State Govt. It was incorporated for carrying on the business of continuous cast. there has not been any trading in the shares for the last several years. 1984. June 28.30 FY01-02 187.600 -96. c. 1979 as Nalwa Steels Ltd. 1956 and since then there is no manufacturing activity in the Company.750 1.904. a. b. As the paid-up capital of the Company is only Rs.103. Shareholding Pattern The shareholding pattern is as follows: CATEGORY A. .3 (14.750 --98. Sub .95 -46.200 NIL 3.222.Total GRAND TOTAL No.430 (7. The name of the Company was later changed to Jindal Seamless Tubes Ltd. Promoters: . d.200 NIL 11.38) 0.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. --94.962.57) NIL (0.Total Others Private Corporate Bodies Indian Public NRIs / QCBs Any other (please specify) Sub .98 100. Ms.222. Jindal.05) NIL (0. Financial Institutions.377.92 FY02-03 187.200 NIL 2.7 (16.08 (excluding Jindal Seamless Tubes Limited The Company was incorporated on April 12. D. the manufacturing activities were disposed off under the provisions of Section 293(1)(a) of the Companies Act. Goel.000 --45.

229.98 21.57 9.25 9.125./ Jindal Saw Ltd Naveen Jindal Abhinandan Investments Ltd Ratan Jindal Stainless Investments Ltd P.) BV (Rs.405.53 - . Savitri Devi Jindal and Mr.93) (118.56) Nil (10.29) FY02-03 21.98 100.130 159.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.60) Nil (7.08 (204.14) (125.971.98 9.) BV (Rs.36 (197.00 .400 24.04 (15.370 10 3.405. 100/each) Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs.18 NIL 10. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Savitri Jindal O. P.24) 5. The Board of directors of the company comprises of Mr.12 0. Saxena. Jindal (till March 31. Jindal Colorado Trading Co.79 (23.41) Nil (175.51 4.760 (1.78) (209.400 2.15 NIL 16.85 (274.) (9) Rohit Tower Building Limited FY03-04 21.37) The Company was incorporated as Private Limited on June 16. The Company is engaged in the property business. Ltd Nalwa Investments Ltd Swastik Udyog Ltd.96) No.) FY03-04 2. O.400 5.75 9.400 2.000 Nil 1.80) 13.85 0. Smt.922.Jindal Jindal Strips Ltd Total Financial performance The financial performance of the company is given below Particulars Share capital (Equity Shares of Rs.22 (384. 2005).400 2.9) FY02-03 2.230 2.R.04 13. of Shares 30 60 2.40) NIL (46.050 % of shareholding 0.85 (297.51) (Rs. 1986.250 1. Ltd Gagan Trading Co.64) 162.405.400 130.85 (258.885.000 Nil 1.98 9.005.360.78) (136. P. S. S.52) FY01-02 2.100 2.98 9. 1971 and became Public limited with effect from July 30. In lacs) FY01-02 21.000 Nil 1.

1934.000 100 42. Kosi Kalan.00 (2.17 1.17 45.) – 281 403.869.00023 49.26) 74.000 % of shareholding 0.) FY03-04 2.00 . 1995. Aggarwal. Arvind Kiran Aggarwal. Sharma and Mr.00 (3.000 500.17 1. P. Nandgaon Road.488. 1994 as Hexa Securities & Finance Co.98) 509. Ranjit Malik and Mr.15 370.25 (11.17 1.00 (2.Information Memorandum (10) Hexa Securities & Finance Company Limited This Company was incorporated on November 23. Mr.00 1. It was converted into Public Limited Company on December 3.00023 100.550.000 500. The Board of directors of the company comprises Mr. having its registered office at A-1.58 Nil 0.P. Pvt.45 (9. The Company was incorporated as Private Limited and became Public Limited with effect from May 4.83 Nil 1. 1994. The company is Non-Banking Financial Company (not accepted Public deposits) registered under Section 45-IA of the Reserve Bank of India Act. K. 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. UPSIDC Indl. Ltd.) BV (Rs. In lacs) FY01-02 2. The Company is NBFC and holds investment in other Companies. 2002. Rajesh Aggarwal.Bansal Nominee of Jindal Strips Ltd Total No.22 1.16 63.45 Nil 0.200. R. Parmod Garg.550.08 0. The Board of Directors of the Company comprises Mr.64 (11.21) (Rs.66 163.54 - .800 500.000 19.000 500. Mr.590. 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. Area. D.859. Shareholding Pattern The Company is 100% subsidiary of Jindal Saw Ltd.76) FY02-03 2. of Shares 100 20.K.023. Mathura (U.550. Distt.000 520.81) 295.86) (11) Brahmputra Capital And Financial Services Limited The Company was incorporated on June 14.

00 (13) Opellina Finance & Investment Pvt.115.55 - .90 100.09) Nil (109.00.) BV (Rs. The Company is engaged in the business of finance.) BV (Rs.900.000 (831.380 (156.900.000 Equity Shares of Rs.164 (1.36 1918 FY02-03 100.316.79) (102) FY01-02 1.000.10/-each 1.000 Nil 188.464 FY02-03 425.00 0.946.667.000 10 1.259 20.0066) 9.990 10.000 Nil 15.43) Nil (0.201. The Board of directors of the company comprises Mr.R Jindal Shallu Jindal Total Financial performance The financial performance of the company is given below Particulars Share capital 10.296 (30.4 FY01-02 425.900.00 No. On January 13.000 Nil 36.500) 7%Redeemable Cumulative Preference Shares of Rs.097.Information Memorandum Financial performance The financial performance of the company is given below Particulars Share capital Reserves and reserves) Sales PAT Dividend (%) EPS (Rs. .79 Nil 2059. 1956 under the name of Navin Sponge Iron Pvt.717. 1989 under the Companies Act.70 21.450.000 Nil 118. Ltd.468 Gagan Sponge Iron Private Limited The Company was incorporated on February 24. R. Saraf and Mr.000 19.721.00071) 9.869 (279. 100/.150. Investment and finance related consultancy services.0037) 9.) FY03-04 100. of Shares 8.each Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs.000 Nil Nil Nil Nil Nil Nil 7.10 19.) (12) surplus (excluding revaluation FY03-04 425. 2004 the name of the said company was changed to Gagan Sponge Iron Private Ltd. Raj Kumar Nahata. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Naveen Jindal P.000 145.000 83.000 % of shareholding 80.399) Nil (0.103. Ltd.350) Nil (0. K.

000 Nil Nil Nil (264.) (14) Baltimore Trading Private Limited 100.050 1. Deepak Bhat. Naman Enterprises Pvt.000 192. 2002.4) (69. Surendranath and Mr. Animation Finvest Pvt.000 % of shareholding 80.600 1.00 100. Wavelength Capital & Finance Pvt. Jindal Holdings Ltd.144.000 200. K. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Vrindavan Services Pvt. Ltd. Ltd.13 0. The Company was reconverted into a private limited company on July 26.) BV (Rs. Gati Securities Pvt.000 950 900 2 704. Saraf and Mr. The Board of directors of the company comprises Mr. It is mainly in the business of investments and trading in securities.2) FY03-04 FY02-03 FY01-02 No.10/-each 19.14 0.000 Equity Shares of Rs. Ltd.00 100.41.16 0. Starlight Equifin Pvt. TOTAL No. R.000 19. The Company’s board of directors comprises Mr.each Reserves and surplus (excluding revaluation reserves) Sales PAT Dividend (%) EPS (Rs.110.92 28. Welworth Equifin Pvt.100 1.00 The Company was incorporated on December 9. Ltd. 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. of Shares 260.56 - . 1998. Investment and finance related consultancy services.202 % of shareholding 36.600 119. Anand Goel.000 74.693) Nil (114) (178) 1. Ltd.00 .700 (7.670.452. V. of Shares 8. 1995 and is engaged in the business of finance.217. 100/. 1994 as a private limited company and converted into a public limited company “Baltimore Trading Ltd. Gagan Trading Co.Information Memorandum The Company was incorporated on March 20. Jindal Equipment & Leasing Consultancy Services Ltd.098) Nil (26.000 Nil 219. Ltd.598 21.000 10.13 0.” with effect from March 23.26.000 119.15 0.348 Nil 2.065 1892.646 (1.100) 0% Cumulative Redeemable Preference Shares of Rs.00.00 20.651.475 20.98 0.5 100.000 2. Ltd. Ltd.98 16.40 16.

Apurva Jhalani.000 27. Mr. V.23 225. V. P. Kole and Mr. 1994 as a private limited company and converted into a public limited company “Kamshet Investments Ltd.42) 20.P.” with effect from March 23.60 (934.49 148. Dileep Bhatt.43 FY 03 704. Gagan Trading Co. Surendranath and Mr.79) (16) Aras Overseas Private Limited The company was incorporated on September 7. R. Shareholding Pattern The shareholding pattern is as follows: Shareholder Vrindavan Services Pvt. Atul Sud Mr.76) (15.49 (15) Kamshet Investments Private Limited It was incorporated on November 16.24) (47. 1998. 100 each) Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS Rs BV Rs 2003-04 806. This company is in the business of investing and trading in securities. Garg.25) (0. 2002. .29) (0.20 (482. Rajeev Pai.58) 0.20 (482.” with effect from March 23.04) (15. Jindal Equipment & Leasing Consultancy Services Ltd. Jindal Holdings Ltd.60) (0.30) (0. in lacs) is given below: Particulars Equity Share Capital (shares of Rs.100 each) Reserve and surplus Excluding revaluation reserve Income PAT Dividend EPS (Rs. The Board of directors comprises Mr.000 32.57 - . The company was reconverted into a private limited company on August 9. 1994 as a private limited company and converted into a public limited company “Aras Overseas Ltd.00 (0.39 2 0. in lacs) is given below : Particulars Equity Share Capital (Shares of Rs. Mr.89 173.33) (0.00 806. The company is in the business of investments and trading in securities.20 (482.47 FY 02 704.Information Memorandum Financial Information The financial performance of the company (Rs. of shares % of shareholding 260.02) 31.300 18.03) 31.83) 2002-03 806.60 (933.300 21.99) (385. Mr.88) (0.) FY 04 704. Ltd.87) 2001-02 806.60 (934. Ltd.17) (0.) BV (Rs.00 1 0. Vijay Maniar Total No. 1998.04) (15. 2002.04) 31. The company was reconverted into a private limited company on July 26.005 (0.603 100 Financial Information The financial performance of the company (Rs. The Board of directors comprises Mr.31) (0.

Gagan Trading Co. 2002.48 FY 02 633. Ltd. P.19 0.00 (351.98 13.500 1.25 0. Ltd.” with effect from March 23. Welworth Equifin Pvt.07) 44. Deepak Bhat. Jindal Equipment Leasing Consultancy Services Ltd.505 96.41) 0. Ltd. Ltd.00 .000 102. Ltd.17 0.Information Memorandum Shareholding Pattern The shareholding pattern is as follows: Shareholder Vrindavan Services Pvt. Wavelength Capital & Finance Pvt. of shares 260.600 1. Ltd.51 15.48 0. 100 each) Reserve and surplus Excluding revaluation reserve Income PAT Dividend EPS (Rs. Ltd. Kole and Mr.79) (0.000 175.04) 44. Starlight Equifin Pvt. Ltd. Vrindavan Services Pvt. Wavelength Capital & Finance Pvt. Ltd.360 2 633. 1998. Jindal Holdings Ltd.22 0.18 26.21 0. Its board of directors comprises Mr.000 107. of shares 175. Ltd. Welworth Equifin Pvt.840 1.) BV (Rs.760 1.00 (17) Wachovia Investments Private Limited This company was incorporated on November 16.03 0. Ltd. Ltd.68) (0. No.002 77.005 (0.16 100. Gati Securities Pvt.23 0. Animation Finvest Pvt. Naman Enterprises Pvt.200 1. Starlight Equifin Pvt.002 % of shareholding 41. Total Financial Performance The financial performance of the company (Rs.380 1.10) 44.080 1.440 1. Gati Securities Pvt.46 12.) FY 04 633. R. Shareholding Pattern The shareholding pattern is as follows: Shareholder Gagan Trading Co.320 1.012 % of shareholding 28.00 100. Rajeev Pai.07 27.58 - . Ltd.00 (350.29 0.58 No.505 1.65 16. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs. Jindal Equipment Leasing & Consultancy Services Ltd. Ltd.28 0. Mr. It is mainly in the business of investments and trading in securities.21 0.41 16.44 FY 03 633. The company was reconverted into a private limited company on August 9.27) (0.63) (0. 1994 as a private limited company and converted into a public limited company “Wachovia Investments Ltd. Naman Enterprises Pvt. Animation Finvest Pvt.00 (351.45) (0.000 164.500 82.020 621. Ltd. Jindal Holdings Ltd. Ltd.

64 FY 02 2.) BV (Rs.50 18.51) (126. 1994 as a private limited company.26) 9.32) 0. K. Rajiv Khaitan Mrs. The company was reconverted into a private limited company on August 26.020 % of shareholding 18.) 2003-04 621.N.) FY 04 2.90 No.52) (9.01 (763. P. Company’s board comprises Mr.000 5. Vrindavan Services Pvt.70 (2. 1998. Ltd.01 (0.000 10 10 27.00 (19) Musuko Trading Private Limited (MTPL) MTPL was incorporated on November 14. Meredith Traders Pvt.70 (2.” with effect from March 23. 1994 as a private limited company and converted into a public limited company “Musuko Trading Ltd. Dileep Bhatt.000 1.01 (758. Kole and Mr. Ltd.08) (22. This company is in the business of real estate development.000 5. The company is mainly in the business of investments and trading in securities. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.14) (18) Argil Properties Private Limited (APPL) APPL was incorporated on July 6. The board of directors comprises Mr. Sriram. M.000 1. Sandip Sharma Mr.84 (4.99) 2002-03 621.R.51) (2. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.50 18. P.12) (0.70 3.02) (0. Gagan Trading Co.77) (0.100 each) Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.50 18.50 3.70 0. Ltd.51) (0.63) (0. Ltd.22) 2001-02 621.S. .000 5.71) (20.77) (22. Ltd. Mr.40) (22.) BV (Rs. Rashmi Khaitan Financial performance The financial performance of the company (Rs. Mr.Information Memorandum Financial Performance The financial performance of the company (Rs. S. Chari and Mr.50 18.59 - . Shareholding Pattern The shareholding pattern is as follows: Shareholder Reynold Traders Pvt.07) (0. P. of Shares 5.46) 0.79) 26.000 5. Devender Singhal Mr.64 FY 03 2. 2002.04 0. Rishikesh Finlease & Investments Pvt. Krishne Gowda.70 0.01 (759.04 100.

Ltd.21 0.11) (0. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) FY 04 1.22 0. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs. Ltd. I Qureshi.19 0. Shyamlal Agarwal Total Financial Performance The financial performance of the company (Rs.00 (20) Nalwa Chrome Private Limited This Company was incorporated on September 2. Jindal Equipment & Leasing Consultancy Services Ltd. Ltd.39) (0.79 29.03 7. Ltd.990 10 10 10.000 150.10 0.33 No. Sriram and Mr.45 (513.16) 0.070 1.440 2 769. Mr. Ltd.00 FY 02 0.27 0.00 100.620 1. Animation Finvest Pvt. Welworth Equifin Pvt. 1985.100 each) Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.N. Sushil Buwalka Mr.01) 34.S. of shares 4. Ltd.452 % of shareholding 33.90 49. Jindal Holdings Ltd. Wavelength Capital & Finance Pvt.003 No.27 0.08 (0.52 16.03 34. Ltd.35 2002-03 769. Total Financial Performance The financial performance of the company (Rs.10 100.05) 33.24 19.000 225. Its board of directors comprises Mr.00 .28 0.) 2003-04 769. Ltd.160 2. Gagan Trading Co.710 1.00) (0. Ltd.36 2001-02 769. Mr.225 2. It has made strategic investment in the shares of South West Port Limited.95 1.06) 9. Gati Securities Pvt.00 (0. Sanjay Agarwal. K.45 (505.09) FY 03 1. Vrindavan Services Pvt.45 (505.000 % of shareholding 49. of Shares 260. Ltd.60 - .) BV (Rs.990 4. Starlight Equifin Pvt. Naman Enterprises Pvt.225 125.Information Memorandum Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Vrindavan Services Pvt.90 0. Shareholding Pattern The shareholding pattern is as follows: Shareholder Sun Investments Pvt.

R.02 0.20) (0. R.02 0. P. V.) (22) Kavita Securities Private Limited FY 04 5. This company is mainly in the business of investments and trading in securities.10 (0. Expenditure not written off/Preoperative Expenses Income PAT Dividend EPS (Rs. Shyamlal Agarwal Mrs. Mr.) (0. Shareholding Pattern The shareholding pattern is as follows: Shareholder Mr.R. Kole and Mr. Ltd Gagan Trading Co. The board of directors of the company comprises Mr. Surendranath and Mr. The company has not yet commenced commercial activity. Bhalerao.13 FY 03 5. Mr.P. Sajjan Jindal Mr.007 (0.02 0. P. Jayaraman. 1995.) BV (Rs.00 (0. Shareholding Pattern The shareholding pattern is as follows: .43) NA NA NA NA 9.19 FY 02 0.53) No.09) (0. O. Dileep Bhatt.92 100. of shares 10 10 10 10 10 10 10 24. Urmila Bhuwalka Mrs.61 - .) BV (Rs. D.02 0.94 49.13) (21) Maharashtra Sponge Iron Limited Maharashtra Sponge Iron Limited was incorporated on September 2. Asha Agarwal Sun Investments Pvt. Mr.02 49. expenditure not written off /Preoperative expenses Income PAT Dividend EPS (Rs.960 50. Ltd Total Financial Performance The financial performance of the company (Rs.02 0. The company’s board of directors comprises Mr.40) NA NA NA NA 9. Anilkumar Agarwal.00 (0. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.00 The company was incorporated on February 28.970 24.24) 7. R.000 % of shareholding 0.38) NA NA NA NA (530.95) 7. Sushil Bhuwalka Mr.60 (0. 10 each) Reserve & surplus Excluding revaluation reserve Misc.02 0. 1985 as a public limited company. Sangita Jindal Mrs. Jindal Mr. Jindal.22) (719.Information Memorandum Misc.

00) (5461814) 2001-02 0. Wavelength Capital & Finance Pvt.) 2003-04 0.002 (109.002 (109. Starlight Equifin Pvt.12) (405937.R.64) (5335) (23) Laptev Finance Private Limited Laptev Finance Private Limited was incorporated on February 6.98 22.50) (5468146) 2002-03 0.00 (108.00 100. 100 each) Reserve and surplus Excluding revaluation reserve Income PAT Dividend EPS (Rs. Ltd.50) (5452869) No. Welworth Equifin Pvt.16) (7.98 100.84) (5342) 2001-02 2. The board of directors comprises Mr. Silky Investments Pvt. Ltd.) BV (Rs. It is mainly in the business of Investments and Trading in securities. Apurva Jhalani. Ltd. 1995.002 (109. Ltd. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.22) (0. Ltd. Total Financial Performance No.10 21. Ltd. Surendranath. Kole and Mr. of shares 1 1 2 % of shareholding 50. Total Financial Performance The financial performance of the company (Rs.93) (0.) 2003-04 2.36) (0.03) (8. Shareholding Pattern The shareholding pattern is as follows: Shareholder Gauri Investments Pvt.00 (108. 100 each) Reserve and surplus Excluding revaluation reserve Income PAT Dividend EPS (Rs.00 (24) Sapphire Technologies Limited . Animation Finvest Pvt.07) (0.98 20.01) (5348) 2002-03 2.00 (109.98 17.14) (7157.00 50. Gati Securities Pvt.62 - . V.Information Memorandum Shareholder Naman Enterprises Pvt.12) (405. Mr. P. of shares 2 440 320 360 420 460 2002 % of shareholding 0.00 The financial performance of the company (Rs.14) (7.) BV (Rs.Ltd.98 15.76) (8.19) (9770. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs. Ltd.

04 0. Ltd.700 % of shareholding 49. Jayant Acharya Mr. 2000 as a public limited company to carry on the business of software development.) BV (Rs. P.60) 121. to act as consultants and advisors on information system etc.07 (21.00 Rishikesh Finlease & Investments Private Limited Rishikesh Finlease & Investments Private Limited was incorporated on August 12. Mr.61) 14.63 - . K.000 1. It is mainly in the business of investments and trading in securities.31 (8. Ltd.99 15. Ltd.S. Vrindavan Services Pvt.15) (0. Wavelength Capital & Finance Pvt.44 FY 03 25. Ltd.S. Kole and Mr.) (25) FY 04 25. Shireesh Wagh Mr. Sriram K. 1994.83 1. Starlight Equifin Pvt. Shareholding Pattern The shareholding pattern is as follows: Shareholder Welworth Equifin Pvt. Raman Madhok Mr.04 100.04 0. of shares 1. Ltd.150 900 1.02 100.00 . of shares 1. N.99 20.50.com” through which it conducts auctions for facilitating sale of steel products.86 0. Dr. Nirmal Kumar Jain Total Financial Performance The financial performance of the company (Rs.Information Memorandum This Company was incorporated on October 5. Patel.70) 20.04 0. Gagan Trading Company Ltd.81 (12.99 21. Its board of directors comprises Mr. Manish Shah P. K. V. Its board of directors comprises Mr. Ltd. Kantilal Narandas Patel Mr. N.90) (5.050 800 1 1 5.N. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.47) (2. Mr.95) No. Shareholding Pattern The shareholding pattern is as follows: Shareholder Reynold Traders Pvt.02 0. Nowal and Mr. Gati Securities Pvt.07 (8. Ltd. K. Purohit Total No. Jain.99 17.30) FY 02 25.70) (3.000 200 100 100 100 100 100 2. The Company has developed a portal “Steelemart.002 % of shareholding 22.29 4.R.25. Raman Madhok.100 1.93 4.04 0.07 (12.99 0.25.08 0.86 49. Animation Finvest Pvt.

(28) Jindal Coated Steel Private Limited .18 (0.64 - . 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.37) (87. Patel.37) (0. Bavneesh Gulati.00 (873. Deepak Bhat.00 (47. Rishikesh Finlease & Investments Pvt. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs. Ltd. K. V.50 (4.000 50. Mr.17) (1724.N.96) 2700.) BV (Rs. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.45) FY 02 5. Apurva Jhalani. V Surendranath and Mr.000 % of shareholding 50.00 (862.) BV (Rs.63) No. Mr. the company is in the business of property development.35) (1737. Shareholding Pattern The shareholding pattern is as follows: Shareholder Reynold Traders Pvt. Board of directors comprises Dr.Information Memorandum Financial Performance The financial performance of the company (Rs.00 50.91 (1736. Total Financial performance The financial performance of the company (Rs.) (27) FY 04 5.00 (51.95 1.000 each.57) (934.00 (11.K. Rajeev Pai and Mr.22) (847.32) (934.02) FY 03 5.) FY 04 5.00 (51.79) (0.000 25.27 0.19) (0.77) 0. the number of shares being 5.18) (26) Naman Enterprises Private Limited Incorporated on April 19.56) (11.01) 1.95) FY 03 5.00 (873. 1994 as a private limited company.100 each) Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.03) (0. Nowal.95) FY 02 5.38) (13. Its shares are held by Vrindavan Services Private Limited and Sun Investment Private Limited equally. Ltd. Mr.00 100.00 Jindal Technologies & Management Services Private Limited (JTMSPL) JTMSPL was incorporated on December 3. The company’s board of directors comprises Mr. of shares 25.74) 1. 2003 to carry on the business of Management & Engineering Consultancy Services.

000 22.21 FY 03 2200. The company’s Board of Directors comprises Mr. The company’s board of directors comprises Mr. 1998.00 (1051.85) (0. Garg. Garg Girish Ghate Total Financial performance The financial performance of the company (Rs. 2002.00 1.) BV (Rs. P. 1996 and was converted into a public limited company “JBS Steel Products Ltd. Bhalerao and Mr.81 (11.000. Sriram K S N.00 49. Private Limited Incorporated on January 12.900 4.27 No.00 (1053.000 11.” on August 6.42) 0.66) No. Ltd.00 (1039.92 (29.28) (0. K.22 FY 02 2200. D. Shareholding Pattern The shareholding pattern is as follows: Shareholder Reynold Traders Private Limited Tranquil Homes & Holdings Pvt.Information Memorandum The company was incorporated as a private limited company “JBS Steel Products Pvt.53 FY 03 1. Jain.92) 0. The company had commenced a project for setting up an organic coated steel plant.000 % of shareholding 50. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Miscellaneous Expenditure not written off FY 04 1.) FY 04 2200. Total Financial performance The financial performance of the company (Rs.13) 5. Raman Madhok and Dr. 2001 and the company was reconverted into a private limited company with effect from July 26.53 (2.00 (29) Dhaman Khol Engineering & Construction Co.83) 8.” on December 12.00 (0.00 . P. However the project was shelved due to uncertain outlook in the steel market.09) (0. N.00 0.49) (0.00 100. R. K.63 0.02 (0.00 1. Ltd. of shares 4. Shareholding Pattern The shareholding pattern is as follows: Shareholder Jindal South West Holdings Limited Sun Investments Pvt. of shares 11.009) 5. Limited V. Mr. Nowal.900 100 100 10. Mr.05) 5. V.000. The Company is in the business of trading in steels and also has made strategic investment in South West Port Ltd.000 % of shareholding 49. Presently the company is in the process of diversifying into other business activities.65 - . in lacs) is given below: Particulars Equity Share Capital Reserve & surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs. V. The name of the company was changed to “Jindal Coated Steel Ltd.00 50. 1996 as a private limited company.00 100.” with effect from February 23.60 FY 02 0.99) 16.000.

56 6.24 FY 03 289.40) (0.499.46 0. Balaji Swaminathan Mr.74 13.685. Jayaraman Iyer Shareholding Pattern Shareholding Pattern is as follows: Shareholder Jindal Strips Limited Jindal South West Holdings Limited Mr.43 195.11 1.03)(15.33 (0.88 278. of Shares 100 100 100 100 100 144. Krishna Deshika Mr.160.00% 0.00% 50. Abraham Mr. It is engaged in the business of power generation.000.47 FY 02 289. R.77 20.48 (11. JTPCL has set up a 2X130 MW thermal power plant.05 10. Sajjan Jindal Mr.00 79. 1994. District Bellary.K.66 - . in crores) is given below: Particulars Equity Share Capital Reserve & surplus Excluding revaluation reserve Operating Income PAT Dividend EPS (Rs. Limited Total Financial Performance The financial performance of the company (Rs. The plant has been operating since January 2000 at PLF of over 95%.31 234.T.) BV (Rs.655. Limited Vrindavan Services Pvt.00% 0. in Toranagallu village. K.27% 100.35) (459.01) 41.55 21.000 289.56 1. N. The Board of Directors comprises: Mr. JTPCL consumes about 20 MW as auxiliary consumption and supplies about 140 MW of power to JVSL and about 100 MW to KPTCL. Jain Mr. Ratan Jindal Jindal Vijayanagar Steel Limited Gagan Trading Company Limited Sun Investments Pvt.Information Memorandum Income PAT Dividend EPS (Rs.13) (0.) BV (Rs.20 56.) FY 04 289. Karnataka.400 12.00 100.00 231.00% 4. Raman Madhok Mr. Sajjan Jindal Mr.96 12.00% 0. Raaj Kumar Mr. Prithvi Raj Jindal Mr.14) (1.00% Chairman Vice Chairman Joint Managing Director & CEO Director Finance Director Director Nominee of ICICI Nominee of IDBI .100 102.000 % of Shareholding 0. P.00% 0.35% 10.38% 35.) (30) Jindal Thermal Power Company Limited 430.90) JTPCL was incorporated on March 10.00 295.000 29.73 No.

79% 100.50% 0.959.02% 12. which uses COREX technology from Voest – Alpine.) (32) FY 04 Rs.500 Cr.43% 5.000. Spread over 3500 acres of land.000 % of shareholding 0.400 26. 2003 under the Companies Act. 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. The scheduled time for commissioning of Unit I is April 2005 and for Unit II is October 2005. K. 9. 1994.86 No. Austria is the first plant to . The company is also now setting up of two 30 MW power plant in SISCOL premises.000 78.00% 0.01% 0.93% 34. 78.2 crores (as on 3.000 200.5 mtpa of HR coils with an investment of around Rs. Upinder Singh Mr.3.T. Jain Mr.26% 3.05) NIL Commercial Operation yet to begin Commercial Operation yet to begin Nil Commercial Operation yet to begin Rs. J.00% 43.00% 0. JPL is promoted by Jindal Thermal Power Company Limited and the other Companies of the Groups.700 100 100 100 33.K.) BV (Rs.200. It has been promoted by JISCO and its associated companies and Karnataka State Industrial Investment Development Corporation Limited (KSIIDC). The plant. 6. of shares 5000 55.67 - . Krishna Deshika Mr.Information Memorandum (31) JSW Power Limited (JPL) JPL was incorporated on January 3. K. Bellary District.640. JPL is setting up two power plants with the capacity of 100 MW each. which will be captive to Jindal Vijayanagar Steel Limited (JVSL). Company’s board of directors comprise of the following directors: Mr.07% 0.600 4. N. namely: Unit I and II.739.00% 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 10. JVSL's plant located at Toranagallu. Raaj Kumar Mr. Sanjay Sagar Mr. has a production capacity of 2.600. 1956.000 2.

) # BV (Rs.67) Nil (0.68 - .Indian Promoter's .98 195.00% 47. of Shares held % Shareholdings 55154742 5704612 0 60859354 42.83% 1. Financial Performance The financial performance of the company (Rs. in crores) is given below: Particulars Share capital Reserves and surplus (excluding revaluation reserves) Sales (including Excise duty) PAT Dividend (%) EPS (Rs. JVSL manufactures high quality Hot Rolled Coils.Information Memorandum use oxygen-based Iron and Steel making in the country with continuous casting and hot strip mill.59% 100.53% 0. Plates and Sheets and is the only flat Steel Producer in South India.Foreign Promoter's Persons acting in Concert Sub .30 2003-04 1631.12% 30.69 # 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.82% 0.42% 0.Total Grand Total No.13 2329.Total Non-Promoter's Holding Institutional Investors Mutual Funds and UTI Banks.37% 16.11 80% 64.04 (110.Total Others Private Corporate Bodies Indian Public NRIs/OCBs Any Other(Please Specify) Trust Huf Sub .25% 3.72% 6.86) 1.16% 3105142 2.97 7035.90 870.68 Nil 3.) 2004-05 469.41% C 4 A B C D 28028571 7901485 39035198 4346484 21715128 2354540 684458 43980 29144590 129039142 21.Institutions /Non-Government Institutions) FIIs Sub .74% 4.28 2002-03 1352.08 Nil 3590. Shareholding pattern as follows: - Category A Promoter's holding Promoter's * 1 2 B 3 A B .00% Stock Market Data .49 528. JVSL was set-up as a backward integration facility for production of hot rolled coils for JISCO.03 Nil 2786.03% 22.92 6. Insurance Companies (Centeral/State Govt. Finacial Institutios.

70 22. 2000.) 458. 5.00 14. 5127 complaints have been resolved and 154 complaints are pending. Through a scheme of Arrangement and Amalgamation between JISCO.90 14. B.049. 2000 (appointed date) on a going concern basis for a consideration of Rs.40 11.80 18. JSWHL and JVSL (“scheme”). IAS Mr.30 and the market capitalization was Rs. Pursuant to scheme of arrangement sanctioned by High Court of Punjab & Haryana. Savitri Devi Jindal Mr. Raman Madhok Mr. Gokul Ram.79 12. After the merger.V. S. Balaji Swaminathan Mr. Aiyar (33) Jindal Steel & Alloys Limited Chairperson Vice Chairman & Managing Director Jt.S Dr.95 18.00 13. 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.99 11. 2003. Managing Director & CEO Jt. N. The company has its investor service center at Mumbai and has engaged the services of a Registrar & Transfer Agents to handle investor grievances.00 18.10 NSE High (Rs. Vittala Murthy.65 22.35 The market price of shares of JVSL (as on April 4. IAS Mr.N.20 15. depending on the type of complaint. The name of the company was changed to Jindal Steel and Alloys Limited. 2005) on BSE was Rs.M. Anthony Paul Pedder Dr.Information Memorandum Month/Year March/2005 Februvary/2005 January/2005 December/2004 November/2004 October/2004 BSE High (Rs. Gupta Mr.00 11.75 12.40 356.40 11.) Low (Rs.N. facilitating for organic and inorganic growth. The company was incorporated on June 10.67 12. 35 crores.I. Singh Mr. David Chandrasekaran Mr. Ramaswamy P.K. Roy Mr.50 356. Sajjan Jindal Dr. 2005. The scheme has been made effective on October 3. 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. Out of 5255 complaints (related to shareholders) received during the period 01. The Board of Directors of the merged entity comprises: Smt. 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.03. The average time taken by the company for redressal of complaints varies from 7 to 15 days.) Low (Rs.2004 to 31. Board of Directors details as follows . 391.65 13.2005.30 crores. The said scheme has been sanctioned by the Hon’ble High Court of Mumbai and Karnataka and has since become effective from 4th February. 1993 in the name of Kay Kay Cold Storage Private Limited. Seshagiri Rao M.80 18. JVSL as a consolidated entity has acquired significant strength with strong financials.) 457. R.69 - .25 15.10. the steel business of JISCO has been merged with that of JVSL from the Appointed Date 1st April.90 14.

of Shares % of shareholding 4000 40. Jindal Mr. P.0071 500 0.0014 100 0. Kole Mr.500 99. Smt. Limited Total Financial performance No. in lacs) is given below: Particulars Share capital Reserves and surplus (excluding revaluation reserves) Sales (Net of Excise) PAT Dividend (%) EPS (Rs. It is in the business of mining and extraction of minerals.00 10000 100. Patel Mr. K.80 FY01-02 702. N. O. P.68 109. V.00 3000 30. Mr. 1997.34 17005. Sushil Bansal Mr. of shares % of shareholding 70. The board of directors comprises Dr. Gupta. ores etc. Vinod K. Ram Chandra Sharma Dr.49 1. K. B. Krishne Gowda. U. K. Anil Sood. M.Information Memorandum Name Mr. A. metals. Shareholding Pattern The shareholding pattern is as follows: Shareholders Jindal Vijayanagar Steel Limited Mysore Minerals Limited Gagan Trading Company Limited Sun Investments Pvt. Mr. Singh. Raman Madhok Mr. Venkateshan and Mr.82 FY02-03 702. P.00 1500 15. N. Rajeev Pai Total Financial Performance: Designation Managing Director Director Director Director Director Director Director Director No.00 3075.9786 500 0.02 The company was incorporated on June 17. Singh. Mr. S. Mr. Dr.0014 100 0.18.0014 100 0.56 52. N. Yogendra Tripathi. Raman Madhok. Mr.0014 100 0.00 2951. Subhash Sharma Mr.83 9808.0071 100 0. R.00 3005.) BV (Rs.00 .) (34) Vijayanagar Minerals Private Limited (VMPL) FY03-04 702.24 54. N. Rajeev Pai Mr.0000 The financial performance of the company (Rs. K.77 52.06 21569.28 70.78 1.27 0.00 53. Ratan Jindal Mr.0014 7020000 100. Om Prakash Agarwal Shareholding Pattern is as follows: Shareholders Jindal Strips Limited Mr.70 - .00 1500 15. Patel Mr. Jain Mr. Jija Madhavan Hari Singh. Nowal Mr.

(TIDCO). Krishna Deshika. Mr. of Shares 3. Mr.10) 10 Southern Iron And Steel Company Limited (SISCOL) Southern Iron and Steel Company Limited (SISCOL) was incorporated on September 11.08 0.88 166. FIs and Insurance Companies Private Corporate Bodies Indian Public NRIs/OCBs Total Financial performance The financial performance of the company (Rs. Air Separation plant in June 1999 and Bar and Rod Mill in May 2002.55. Lakshmi Machine Works Ltd. Kamal Kishore Gupta and Mr. (LMW) and Tamil nadu Industrial Development Corporation Ltd.) (35) FY 04 1. N.01 3. V.000 82. Sinter plant in August 1997.82. Mr. 1995. LMW has sold their entire shareholding in SISCOL to the Jindal South West (JSW) Group. Prakash.00 (629.64 0.000 56. 2004 is as follows: Category Promoters and Promoter Group (a) JSW Group (including Mr. In terms of the CDR approval and as per approval by the shareholders of SISCOL and by SEBI. K.39. Bars and Rods at its integrated steel plant located at Pottaneri/M. The Company operates an integrated steel plant having facilities for production of Pig Iron.00020 (568. K.93 45. Mr. Kalipatti villages.289.100 29.in lacs) is given below: No.850 % of shareholding 39. Shareholding Pattern The shareholding pattern as on December 31. T.00. S.71 10.00 (463. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Sales PAT Dividend EPS (Rs.92 50.90 (568.50. and is referred to BIFR.000 3. The Company started commissioning its units with iron making division and power plant in 1996.42. V.55) 1.16) 2.) BV (Rs. which is headed by Mr. It also has plants for generation of power and production of oxygen. Jain. Sajjan Jindal. The capacity of the plant is 0. Shanmugasundaram. The Company has become a Sick Company as on June 30.50. Steel Melting Shop in January 1999.10) 1.700 10.664.21. The Company is in the business of manufacturing Pig iron.39 10 FY 03 1.45) 10 FY 02 0. Vijay Sharma.30 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.Information Memorandum The financial performance of the company (Rs. The board of directors of the company comprises Mr.976 29.051.71 - .100 7.04 100% . Billets. 1991 as a Public Limited Company promoted by M/s. Steel Billet and Rolled Steel products in the long product category. Kshirsagar. Sajjan Jindal) (b) TIDCO Sub Total (a)+(b) Other Shareholders Mutual Funds and UTI Banks.974 3.3 mtpa. P.74 (61. Mr. 2004 within the meaning of the Sick Industrial Companies (Special Provisions) Act.71.00.

(including nominees) Dhaman khol Engg. Captain B. operating and maintaining two dedicated bulk cargo berths at MPT on a build.80 FY03-04 (15 months) 16039.Information Memorandum Particulars Share capital Reserves and surplus (excluding revaluation reserves) Sales PAT/(Loss) Dividend (%) EPS (Rs. depending on the type of complaint.49) Nil (20.60 23. Sharma (Joint MD & CEO).000 % of shareholding 26. operate and transfer (BOOT) basis.06 FY01-02 16039. resolved/replied 16 and Pending Nil.00 18. engineering.23 .K. Status of Investor Complaints received during the period from October 2004 to March. constructing.80 21. Nowal. Dr. V. The company has engaged the services of a Registrar & Transfer Agent to handle the grievances of the investors.) 18.24 7607. The board of directors of the company comprises Mr.85 24.96 4930. designing. 2005 – Received 16. Ltd No.72 - .85 51.24 7607.11 The Company’s rights issue is open since March 31.) 14. Shareholding Pattern The shareholding pattern is as follows: Shareholder ABG Heavy Industries Ltd. (C) Associate Companies (1) South West Port Limited (SWPL) SWPL incorporated on June 26.) Stock Market Data Month October 04 November 04 December 04 January 05 February 05 March 05 BSE High (Rs.38 (2771.96 34144.56 (15340.05 20. owning.43 (4570.182. Mr.05) 4.24. & Const.30 23.05 crores. financing.24 7607.67) 10.J. 2005.43) Nil (3.45 Low (Rs. SWPL has entered into a license agreement with Mormugao Port Trust (MPT) on April 11. 2005) on BSE was Rs.20.10 18. equipping.V.K. The company’s name was subsequently changed to SWPL in September 2003. 1999 for the development. of shares 1. Pvt.The market price of shares of the company (as on April 15. own.25) FY02-03 16039. 1997 as a private limited company known as ABG Goa Port Private Limited and promoted by ABG Heavy Industries Limited (ABGHIL). Raman Madhok.10 and the market capitalization was Rs.95 15. The average time taken by the company for redressal of complaints is up to two weeks. Nasser Munjee and Mr. Mr.000 84.) BV (Rs. Sajjan Jindal.96 26844. Co.31) (16.75 34. 2005 and closes on April 29. Saket Agarwal.12.47) Nil (6.00 21.20.

5% Secured Redeemable Non Convertible Debentures of the Company are listed on The Stock Exchange.877.00 4.20.000 3. in lacs) is given below: Particulars Equity Share Capital Advance against Share Capital Reserve & Surplus Miscellaneous Expenditure not written off BV (Rs. of shares 11.31 16.571. C.00 26.02.85 FY 03 1150.24. Jain. Total Financial performance The financial performance of the company (Rs. Mr.718.73 - .062 4. Mr. Qureshi.01 --53.37 2. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs. Asit Gangopadhyay. (Including Nominees) Silver Steel Ltd Total 1.79 22. Financial performance The financial performance of the company (Rs. Gerry Reidy. Mr. 9.00.00 --7. Ltd. John Panikar.938 1.200. Muralidhara. Mr.36 9.80.000 % of shareholding 74. Vikas Sharma.00 100.000 23.59 No.00 After March 31. I. The Shares of the SWPL are not listed. Nalwa Chrome Pvt. Mr.00.42 3. Mr.79 845. 1995 and manufactures liquid and gaseous Oxygen.Information Memorandum Tranquil Homes & Holdings Pvt.00 -28.) BV per share (Rs.248.24.00. Mr. 10 each) Reserves and surplus (excluding revaluation reserves) Income (incl.910. (2) Jindal Praxair Oxygen Company Private Limited (JPOCL) JPOCL was incorporated on September 27. Venkatesh Prabhu and Mr. other income) PAT Dividend (%) EPS (Rs. Mr.00 15.47 2.00 7.551. FY 2003 FY 2002 FY 2001 15. N.01 12. Nitrogen and Liquid Argon.00 450. Ltd.K.000 15. Mr.10.752. K.89 27. 2004 the Company has issued 11229900 equity shares.03 NIL 1. However.20.85 Since the company had not started commercial operation till FY04.17 1.81 9.98 9.17 100.82 FY 02 550. Moosa Raza.10 NIL 1.01 NIL 2.200.000 45.91 13. no profit and loss account has been prepared by the company. The Board of Directors of the company comprises Mr. Mumbai.00 .21 9.11 11.600.95.) Note: Audit for FY 2004 has not been completed yet.62.604.43.11 25. Shareholding Pattern The shareholding pattern is as follows: Shareholder Praxair Pacific Private Limited Jindal Vijayanagar Steel Ltd.) FY 04 3497. Sharad Madhok. Kalyana Sundaram.

74 - .Information Memorandum SUBSIDIARY COMPANIES JSWHL has no subsidiary company/ies as on date. .

96 lacs as against Reserves and Surplus of Rs. or deed. no Profit & Loss account was prepared. instrument.66 lacs mainly comprising of dividend and interest income and the Profit after Tax amounted to Rs. .75 - .50 lacs. the Company continued to hold its investments in Jindal Group Companies in addition to providing of consultancy services. pursuant to the provisions of Section 391-394 of the Companies Act. 0. In financial year 2003-04. After giving effect to the above Scheme during the Financial Year 2004-05.28 lacs. 2005 stood at Rs. The Company also provided consultancy services resulting in an income of Rs. 0.70 lacs. 52121. Pursuant to the Scheme of Arrangement and Amalgamation approved by Hon’ble High Courts of judicature at Bombay and Karnataka. 2001. Therefore. stands transferred to and vested in JSWHL. without any further act.06 lacs. The share capital of the Company stood at Rs. the Investment Division of JISCO. 5 lacs and incurred pre-operative expenses to the tune of Rs. the Income of the Company for the year ended March 31. 560. 1956. 5 lacs and made investments in Jindal Group Companies to the tune of 8.Information Memorandum MANAGEMENT DISCUSSION & ANALYSIS Performance in successive periods The Company was incorporated on July 12. any adverse financial impact on the operations / business / performance of investee companies will have negative impact on the revenue of JSWHL. During financial year 2002-03 the Company raised additional share capital of Rs. 1109. During financial year 2001-02 since the Company had not commenced any commercial activity. Risk & Concerns JSWHL’s main source of income is dividend on investments made in listed / unlisted companies.48 lacs. The Company raised equity share capital of Rs. 529.

00 0.00 320.00 623.04) 1220.00 134.00 126.77) (34. 6226 crores.00 17.00 129.08 1548.29 (148. 25.48 (29. modifications were effected to the basic design of the main plant and additional plant/facilities like pellet plant. increase in interest during construction and foreign exchange variation also resulted in a cost overrun of the project.04) (29.000 equity shares of Rs.78 197. 1995. These issues opened for subscription on March 23.00.77) 1093.000 equity shares of Rs.00 180.87 84.00 32.00 317.00 614. Capitalisation of preoperative expenses incurred during prolonged trail run. These issues opened for subscription on February 10. 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 621.25 mtpa of HR coils in June 1994 was estimated to be Rs.68 21.00 78. A comparison of promises versus performance is given below: (Rs. 1995. 24.00 (0.00 34. hot charging systems in Hot Strip Mill were added to enhance the overall capacity of the integrated steel plant to 1. 40 each for cash at par aggregating Rs.25.93 1740.84) (0. When the company started operation of the integrated steel plant after recommissioning of Corex.43 23. 70 each for cash at par aggregating Rs. 10 aggregating Rs.23 183.18) The project cost to set up an integrated steel plant of capacity of 1.50.00 530.00 162. 2004 was Rs.30) 0. Corex 1 was recommissioned after a lapse of one year by carrying out rectifications/modifications.000 14% secured redeemable Partly Convertible Debentures (PCDs) of Rs. 135 crores and (b) 27.27.84) 801.00 524. Delay in disbursal of loans and non-receipt of call money caused a further delay in project implementation. The commissioning of the plants was delayed due to technological issues. the steel industry as a whole witnessed historically low level of selling prices on account of a global down turn.18) (148. converter caster.18 (0.50. 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. Public Issue of Jindal Vijayanagar Steel Limited The company had come out with two simultaneous but unlinked public issues of (a) 13.37 0. 10 each for cash at a premium of Rs.000 Partial Optional Convertible Debentures (POCDs) of Rs. The actual project cost up to March 31.00 725.50 crores and (b) 35. 3300 crores including margin money for working capital. 10 each for cash at par aggregating Rs.50 crores.00.00.Information Memorandum PROMISE VERSUS PERFORMANCE The details of shortfall in promise vs. Public Issue of Southern Iron And Steel Company Limited The Company had come out with two simultaneous but unlinked issues of (a) 1.00 931.57 mtpa.92 1944. A comparison of promises versus performance is given below: .00 738.00 134.67 80.00 151.30 (34. During the initial project implementation.20 47.00 162. 1090 crores.00 537.76 - .

While the cost of input.00 113.34 8.71) (14.06 21.80 14. which added to the cost.) Book value (Rs) 183.47 214.96 21.95 7.88) (12. especially at blast furnace.99 39.00 75.00% 27.725 90.78 (24.50 265.37 37.500 76.86) Due to delay in disbursal of funds by the financial institutions for project completion.37) 70.80 17.34 29. FY 97 Projection Actual 214.89) 19. reduce cost of production and to improve quality.16 62.28 0.00 75.60 (7. adversely affected the equipment and the life of refractory lining.% Net cash accruals Equity capital Reserves & surplus EPS (Rs.53 (21.00% 261.00% Trial prodn.18) 75. the cost of project went up substantially adding to the fixed cost component of its finished products.00 (1.19 214.44 7.63 1.81 48.72) 19.45 116.725 22.47 28.00 86. the Company took various steps to improve operational efficiency.77 - .45) 5.66 5.49 37. Frequent shutdowns and start up at blast furnace has led to excessive consumption of costly input materials such as coke and furnace oil.31 4.94 22.00 75.35) (13.13 84.50 230.37) 47. decrease wastage. Due to under-utilization of capacity at iron making and steel making stages and almost no capacity utilization in BRM. 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.18) (14.70 29.00 FY 99 Projection Actual 214. electricity etc. In view of external factors such as adverse market conditions.29 4.27 (7.42) 17.55 (33.37 (4.00 (2. The shutdown of operations.17 15.00% 228.55 19.37 75.58 60.00 161.50 301.61) (18. competition.25 (18. energy i.54 76.42) 75.45 (12.725 214.80 76.52) 17.14 FY 98 Projection Actual 214.87 5.35) 75. Due to frequent stoppage and start-up.08 (4.78 75.74) 12. lower demand and lower sales realization. The plant. the fixed cost and semi-fixed cost components such as manpower. being an integrated steel plant.Information Memorandum (Rs.01 2. 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 .66 75.49 (1. also substantially contributed to a high cost of production.500 0. Air Separation Plant (ASP) and boilers of power plant and Energy Optimization Furnace (EOF).70 10.08 (4. Cryogenic equipment such as ASP is not designed for any stoppages and is expected to work with uninterrupted operations for years together.00 (2. with pyro metallurgical equipment and machinery.46 15. The main reason for this was depressed steel market scenario with low demand and low selling prices.44 9. The unscheduled stoppages .88) (12.86) 8.34 51.79 101.42 0.08 (24.29 4.725 70.41 183. the selling prices showed a decreasing trend. The lower capacity utilization was due to non-availability of input materials in time. Frequent stoppages of ASP caused substantial increase in cost of up-keep for the equipment.45) (4.78 51.48) 17. which in turn was due to non-availability of working capital.71) (21. blast furnace.46 37.13 0. Every start up required liquid oxygen to be purchased from external source.91 25.00 70.e.725 80.21% 65.79) 8. which was even below the cost of production.72% 16.35 65.98 46. power and furnace oil increased.42) (12.56 5.00% 87.55 (33.91 3.00 49.12 21. mainly raw material.52 9.61) (13.01) 5.27 1.61 75.725 41. requires uninterrupted operations.89% 293.51 - 47.

The project had suffered a cost overrun from Rs. 688 crores in September 1997. 839 crores in August 1999 and finally revised to Rs. the company came out with the rights issue of 77.78 - .71 crores and pre-operative expenses and interest during construction by Rs. 280. other pre-operative expenses of Rs. 27.6 mtpa of Sponge Iron and 0. The Company had originally planned to import a second hand mill at a cost of Rs. 34. 1035 crores till completion of project in January 2003. The project has witnessed time and cost overrun since inception due to various reasons outlined above. there was an increase of Rs.87 crores to Rs.05 crores. because of an increase of Rs. 839 crores.08 crores. there was an increase in the cost of project estimated at Rs. 25.108. the Company could commission only the first phase of the project (iron making facilities) by July 1996.1 crores. to Rs.91 crores on the foreign currency loans. Public Issue of Jindal Strips Limited In 1992. 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. 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.79.17 crores.12. 2. As a result. 46 crores including refurbishing cost for a 0. 4. Revision in September 2001: The Company had commenced production from part of the facilities. with commercial production in April 1996.Information Memorandum also resulted in huge inventory of high value items like ferro alloys. The project cost was reappraised in September 2001 to Rs. the present project expansion is being implemented by the JSW Group. The Company’s project was originally scheduled for completion in March 1996. There was also an increase in cost of miscellaneous assets to the extent of Rs.28 crores consequent to delays in the implementation of the project. However.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 . 450 crores in July 1994 was revised to Rs. the implementation of the project. However. 143. 12.1 mtpa Sponge Iron/Pig Iron to 0. However. Due to the gap in the means of financing.22 mtpa mill. 238 crores increase in the project cost as appraised in September 1997.96 crores and balance mainly on account of the cash losses on sale of the intermediate products.101. capital equipment costs not originally envisaged (electro-magnetic stirrer) of Rs. 839 crores. an increase by Rs. 196 crores compared to the previous appraisal of Rs.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. 35. was delayed. mainly due to delays in acquisition of land. to enhance capacity from 0. Consequent to the change in the configuration of the mill. 12.10 crores for meeting a part of the Rs. The original cost estimated at Rs. The increase was mainly on account of the increase in the interest during construction of Rs.1035 crores in September 2001. the Company could not raise the public portion of the additional equity aggregating Rs. 450 crores at the time of original appraisal to Rs.05 crores. The Company later entered into a contract for 0. increase in trial production losses capitalized of Rs. which blocked working capital and increased interest cost. 1035 crores. the facilities were shut down from November 2000. 19.06 crores. exchange fluctuation of Rs. 44.151 crores mainly on account of additional interest during construction of Rs.203 .18 crores. 360 each for cash at par aggregating Rs. which was scheduled for completion in October 1998.5% Partly Convertible Debentures (PCDs) of Rs. the new promoters.30 mtpa mill at a cost of Rs. Revision in August 1999: Due to the depressed capital market conditions. and executives who have experience in implementing projects in the area. due to shortage of working capital.

757. The company.99 2. and problems were also faced by other steel manufacturers. This technology was.89 345.41 19. Sponge Iron was to be manufactured from the Rotary Kiln (6 kilns each of 0.000 MT 100.175 nil 20.000 MT 200.000 kwh Utilisation 4% 3% 11% 0. Madhya Pradesh.000 MT 100. This issue opened for subscription on March 9.449. 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. 1992.734 513 5.52 The actual project cost.52 crores. 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. the kilns and submerged arc furnaces were expected to be installed by March 1994.719 490 46.00 449. without having the cooling cycle operation.62 57.1 mtpa) and the Sponge Iron in hot stage. changed the plan for manufacture of Pig Iron and decided to install 2 Electric Arc Furnaces of 50 tons each for manufacturing Mild Steel. was to be transferred to Submerged Arc Furnace for manufacturing Pig Iron.34 147. The company expected to achieve a capacity utilization of 30% for 1992-93.000 MT 100. As per the original plan.916 2. not successful for the company.000 MT 100. therefore.68 28.000 30 MW Production 97 75 11.Information Memorandum plant at Raigarh.000 MT 300. 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 100.79 - .566 97.000 MT 200. in crores): Land & site development Building Plant & Machinery Misc.82 15. was Rs.000 MT 200. 50% for 1993-94 and 70% for 1994-95 for its new project. The Submerged Arc Furnace installed initially was utilized for manufacturing Ferro Chrome. however.36 85. A comparison of promises versus performance is given below: The cost of fixed assets in the project is as under (Rs. Fixed Assets Others Total Planned costs Actual costs 1. cumulative till 1995-96.5% 23% 1% 26% 43% 10% .62 355.000 MT 200.79 99.

10 each for cash at par aggregating Rs.731 66% 23% 6% 71% 14% 26% Note: Capacity utilisation % has been worked out after considering commissioning period.92. Public Issue of Jindal Saw Limited In 1986.771 300.667 kwh 1. The project was completed on 13. 1986.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. This issue opened for subscription on July 7.80 - . the company came out with the public issue of 19. .613.000 200.000 30 MW 30. thick walled large diameter SAW Pipes.000 500.073.745 7.000 500.380 69.850 45.000 45 MW 30.000 equity shares of Rs.1987 and commercial production was started.970 35.3.447 78. to set up a project for the manufacture of high pressure.000 204. The actual capacity utilization is close to the projected figures except for some differences encountered during the process of stabilization of equipment.992 crores. 1.

criminal or civil prosecution.) 86.40. 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. • Against JSWHL There is no outstanding litigation and default against JSWHL. Against JSWHL by employees There is no outstanding litigation against JSWHL by its employees. its Promoters or Promoter Group companies. Jindal Strips Ltd. has filed an .Information Memorandum OUTSTANDING LITIGATION AND MATERIAL DEVELOPMENTS Save as stated herein: • There are no outstanding or pending material litigation. Promoter Companies Jindal Strips Limited Case No. 86. O. Parties Pending Before DRT.40. No.6) …Defendants Jindal Strips had accepted hundis worth Rs.40. Hindustan Foils Ltd. No. 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.291/along with interest is sought against Jindal Strips Amount Involved (Rs.291/. non payments or overdues of statutory dues.A. bonds and fixed deposits and arrears of preference shares.213 of 2001 Benares State Bank Ltd. There are no material defaults. New Delhi for Hearing Subject of the Matter Recovery Suit for bills dishonoured by Hindustan Foils. Hindustan Foil Ltd. … Applicants Vs. (Resp. suit. & Ors. The United Western Bank Ltd. No. By JSWHL against its employees There is no outstanding litigation by JSWHL against its employees.15% Facts 1. its Promoters. other than unclaimed liabilities of the Company. 86.291/together with interest @22. Directors or Promoter Group companies. institutional or bank dues or dues towards holders of debentures. A decree of Rs.81 - .drawn by Hindustan Foils and discounted the same with the Applicant Bank. Against Promoter / Group / Associate Companies of JSWHL (A) (1) Sr.

Information Memorandum application for registering itself as a Sick Industrial Unit with BIFR.27010 of 2004 Jindal Strips Ltd.R. TISCO and VISA had also filed Petitions challenging the selection of Jindal Strips as JV Partner of IDCOL.F.I. 45 lacs (approx. The application is presently pending before A. Other companies and organisations viz. …Defendants Civil Court. Jindal Strips has Appealed against the aforesaid order in the Apex Court. State of Orissa & Ors. Hisar for Hearing Injunction Suit - 3. Jindal Strips Ltd. ("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.82 - . IDCOL had invited bids for forming a JV with in respect of Tangarpada Mines and selected Jindal Strips as its JV Partner. has also filed seven suits against Hindustan Foil to recover an amount of Rs. …Respondents Supreme Court of India for Hearing Joint Venture Partnership between Industrial Development Corporation of Orissa Ltd.) 2. Special Leave Petition No. . - Sanjay Kumar …Plaintiff V/s. Jindal Strips Ltd. 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.1. …Petitioner V/s.

Indian Charge Chrome Ltd. Indian Charge Chrome Ltd. GMR Technologies & Industries Ltd. State Govt. V/s. & Anr.2 of 2004 In SLP (Civil) No. under Section 11(5) of the MMRD Act. Union of India & Ors.83 - . Jindal Strips Ltd.2 of 2004 In Review Petition (Civil) No. Intervention Application of JSL shall be considered only if review petition is allowed.6788 of 2004 State of Orissa …Petitioner V/s.A.9 of 2002. Supreme Court of India for Hearing - - Jindal Strips Ltd. 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. The Petitioner has sought review of the said judgment from the Supreme Court. …Applicant Supreme Court of India for Hearing Lease of Mines .17250 of 2003 In Civil Appeal No. Supreme Court of India I. & Ors… Respondents And Jindal Strip Ltd. is identical in nature.469 of 2003 In Transfer Case No. 1957 in relation to Sukhinda Valley / Sukhinda Mines. 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. has filed an Intervener Application in a case filed by Indian Charge Chrome Ltd. No.295 hectares in Sukhinda Mines to Orissa Mining Corporation contrary to Chahar 5. I. And Jindal Strip Ltd.Information Memorandum 4.A. No. decision to allocate the entire 436. on the ground that interest of the Petitioner and that of Jindal Strips Ltd.

Information Memorandum

6.

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

7.

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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Information Memorandum

8.

TS/141/1997

9.

TS/166/2004

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

1.

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

1.

Jindal Strips Ltd. … Appellant V/s. Assessing Authority, Hisar Dist. …Defendants

Joint Excise & Taxation Commissioner (Appeals)

A.Y. 19911992

Rs. 58,35,057

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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Information Memorandum

1.

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.

(2)

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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• Non-payment of dues are as follows: Sr. New Delhi 47.56.34.83 lacs. Ltd with Deutsche Bank as safe custody of credit facility granted to Jindal Tractable Ltd. 1958 Nature of the dues Income tax demand Gift tax demand Forum where dispute is pending 5. 1.15. • Non-payment of dues are as follows: Sr. 1961 2. 1961 3. .48.C. Income Tax Act. 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. 2.25. c) The Company has pledged 4900000 equity shares of Jindal Vijayanagar Steel Ltd & 669 sares of Jindal Iron & Steel Co. for which no provision has been made. Income Tax Act. 1961 2.960 ITAT.31. 1961 Income tax demand Income tax demand 1.05 lacs equity shares of Haryana Concast Ltd from H.437 Penalty Imposed by SEBI A sum of Rs. Rs. Name of the Statue No.000/.S. 1. Income tax Act.65.75 lacs Cumulative arrear of dividend on 10% Redeemable Cumulative Preference Shares. 743.00 lacs. Gift Tax Act.83.738 ITAT New Delhi 1. 1961 Income tax Act.488 ITAT New Delhi Amount (6) Nalwa Investments Limited Contingent liabilities not provided: a) Disputed income tax Liability Rs.I. 1958 Nature of the dues Income tax demand Income tax demand Gift tax demand Forum where dispute is pending 1.1293. 2004 under amnesty scheme for regularisation of Violation of Regulation 6&8 of (Substantial Acquisition of Shares & Takeover) Regulation 1997.88. b) The Company has given 1376677 equity shares of Jindal Iron & Steel Co. No. New Delhi Amount (5) • Jindal Equipment Leasing and Consultancy Services Limited As per Audited Balance Sheet of March 31.78. 212.55 lacs of dividend on 10% Redeemable Cumulative Preference Shares not provided. 1. e) Rs. New Delhi 61.99 lacs) b) Rs. 175. 399.730 CIT (A). 287.has been paid on October 20. f) In respect of bid for 63.21. 715. 2004 Contingent liabilities are: a) Outstanding disputed income tax and gift tax liability of Rs.87 - . Name of the Statue No. Gift Tax Act.44 lacs (Previous year Rs.D. Name of the Statue Nature of the dues Amount Forum where dispute is pending CIT (Appeals) New Delhi ITAT New Delhi Income tax Act.217 2.15.Information Memorandum Sr.807 ITAT.

Penalty Imposed by SEBI A sum of Rs.) This case relates to the application of Price Reduction formula by GAIL pursuant to the delay in supply of pipes by Jindal Saw Ltd. Ltd.35 429.09.264 of 2003 Jindal Saw Ltd. b) The company has pledged 2. 175. 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.I. (8) Jindal Saw Limited Contingent liabilities not provided for as on 30.2004 are in respect of: Sr.Information Memorandum (7) Abhinandan Investments Limited Contingent liabilities not provided: a) Rs..360 equity shares of Jindal Steel & Power Ltd.000/. Parties Pending Before Subject of the Matter Amount (Rs. Case No. .) Facts Case No.has been paid on October 20. in crores 229.88 - .16 20.02 58..I. with I.53 lacs Cumulative arrear of dividend on 10% Redeemable Cumulative Preference shares.87 4. Gas Authority of India Ltd.00 Civil Matters Sr. No. The Arbitrators have passed Award in favour of Jindal Saw Ltd. The reduction of price is being disputed by Jindal Saw Ltd.16. No. 48 crores (approx.C. 2004 under amnesty scheme for regularisation of Violation of Regulation 6 & 8 of (Substantial Acquisition of Shares & Takeover) Regulation 1997.752. and the same has been challenged by GAIL. (GAIL) Delhi High Court Appeal against Arbitration Award Rs.02 0. Vs.C. 1.

Jindal Saw Ltd. Dhaka on false and frivolous grounds. This matter relates to the application of price reduction formula applied by ONGC pursuant to the delay in supply of pipes. (ONGC) Bombay High Court Appeal against the Award of the Arbitrator 1.58 5. 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. The Arbitrators have given the Award in favour of the Jindal Saw Ltd. Oil and Natural Gas Corporation Ltd. .89 - . Vs. Arbitra tion Petitio n No. Oil and Natural Gas Corporation Ltd.292 of 2003 M/s. Vs. ONGC has challenged the Award before the High Court. Vs. Jindal Saw Ltd. under a contract for supply of pipes.862 of 2002 M/s. Jindal Saw Ltd. ONGC has challenged the Award before the High Court. - M/s. Jindal Saw Ltd. SDJV. Vs.83 crores 3.100 2 of 2002 M/s. The Arbitrators have passed Award in favour of the Jindal Saw Ltd. SDJV. (ONGC) Bombay High Court - US$ 60224. Appeal No. This case relates to the dispute relating to the applicability of foreign Exchange rates on payments made by ONGC to Jindal Saw Ltd. Arbitration Penalty for delay in supplying pipes Rs.12 crores 4. Bharat Petroleum Corporation Ltd. Bangladesh attempted to invoke the performance Bank Guarantee for USD 705698 issued by Canara Bank through Bank of Nova Scotia. 1. The reduction of price has been disputed by Jindal Saw Ltd. Suit No.Information Memorandum 2. The reduction of price has been disputed by Jindal Saw Ltd.

CCI & Jindal Saw Ltd. 2nd Additional District Judge at Vishakapat tam No relief has been sough against the company 7. Govind Ram Agarwal Vs. The Complainant has alleged deficiency of services in transferring the shares that were lodged by the Complainant for transfer. District Forum. Jindal Saw Ltd. 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.Information Memorandum 6. During the course of transportation some damage was done to pipes. HPCL filed its insurance claim and got the money. Jindal Saw Ltd. Case No. respectivel y The High Court has granted permanent injunction against Canara Bank. Jindal Saw Ltd. which alleges to be the successor of Bank of Nova Scotia. contends that all rules and regulations have been observed while transferring the shares and also that the Consumer Forum had no . Jindal Saw Ltd. Thereafter.178 of 1990 United India Insurance Company Ltd. had supplied pipes to HPCL.90 - . Dhaka has filed and application against the injunction. United India Insurance has filed the case at Visakhapatnam for recovery of claim amount from CCI alleging their negligence in transporting the pipes. Vs. Lucknow and State Commissio n. which were transported by CCI under separate agreement with HPCL. The Bank of Asia Ltd.

Y.T. 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. This Appeal has been filed by the Department against Jindal Saw Ltd.Y.66. Other Indirect Taxes Matter 1. Assessing Authority Trade Tax Vs. is disputing the above matter. Criminal Offences 1.83.J Pipes Mumbai without Form No.940 3.P.906 4. Allahabad A. Assessing Authority Trade Tax V/s Jindal Saw Ltd. Mundra Environm ental Pollution The Pollution Board alleged that Jindal Saw Ltd. High Court. The provisions of Section 15 A (1) (0) of the U. Deputy Commission er (A) Kosi Kalan. Jindal Saw Ltd.Y. Criminal Case No 416 of 2004 Gujarat Pollution Control Board Vs. Assessing Authority Trade Tax Vs.Y. A. Jindal Saw Ltd. 1.42.P. Commissioner has reopened this matter Under Section 21(2) of the U.T Act 1948 are attracted which stipulates penalty up to 40% of value of material so imported.T Act 1948 for escapement of Tax.91 - .Information Memorandum jurisdiction to try the matter. 1997-98 Rs.E. 1991-92 Rs. 3. 1.T.T. 5. High Court Allahabad A. had undertaken substantial contraction of plant and blast furnace without obtaining prior environmental clearance.600 The Add.P. variation. 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. High Court Allahabad A. According to the Board this is in violation of the Environmental Impact Assessment Notification 1994. This case is in relation to the import of material from M/s P. Jindal Saw Ltd. Jindal Saw Ltd.31 by Jindal Saw Ltd.T Act 1948. for carrying out job work.694 2. This matter relates to the imposition of interest on tax deposited by Jindal Saw Ltd. . Jindal Saw Ltd. on F. Assessing Authority Trade Tax Vs. 1995-96 Rs. & Ors First Class Judicial Magistrate. 1997-98 Rs.11.

However. & 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. Mumbai has decided in favour of the Company. 2265. 159. Dividend on preference shares Rs. On appeal. (10) Gagan Trading Company Limited Contingent liabilities not provided for as on March 31. 2004 include: 1. 1502. On further appeal. Mumbai has heard the Appeal and decided in favour of the Company.20 Chargeability to Wealth Tax u/s 4 lacs and Rs. Mumbai for Hearing Assessment Year 2000-01 592. The ITAT. property of the company.000. Versus Comm. Supreme Court of India This matter relates to the applicability of Form 3 B and C. the company is in the process of filing appeal to ITAT on the other issue of interest disallowance. Versus Comm. 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. ITAT.16 lacs.3.84 lacs. of Income Tax Gagan Trading Company Ltd.42 lacs. 567.584 has not been acknowledged as debts in view of misappropriation of shares of the company.Information Memorandum 5. 2. Of Wealth Tax ITAT. the CIT (Appeals) has decided the matter relating to the addition of notional interest in favour of the company. of Income Tax ITAT. respectively the CWT (Appeals) upheld the Assessing Officer’s contention. Rs.92 - . On appeal. (8)(b) of the Wealth Tax Act of the 184.08 lacs Addition of notional interest on security deposits received while computing income from house property and disallowance of interest. Mumbai Assessment Year 1998-99 Gagan Trading Company Ltd. 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. Jindal Saw Ltd. b) The company has lost the case of misappropriated shares for 600 equity shares of Jindal Strips Ltd. Disputed tax demands Rs.16. Assessing Authority Trade Tax Vs. Current Status of Tax Demands Gagan Trading Company Ltd. Jindal Saw Ltd. 578.40 lacs . Versus Comm.

111 Lacs as detailed below : Assessment Year & Amount of Demand 1991-92 Rs.56 Lacs (12) • • Vrindavan Services Private Limited Contingent liability not provided for as on March 31. 1 The demand had arisen due to disallowance of set off of brought forward loss of earlier year. Director General of Foreign Trade (DGFT) and Comm. which is yet to be decided.92 Lacs Addition of notional interest on security deposit received while computing income from house property and the disallowance of interest.Information Memorandum Assessment Year 2002-03 Rs. Versus Union of India.93 - . there was a default relating to interest on OCDs amounting to Rs.25 lacs. The Company is in the process of filing an appeal to the CIT (Appeals). The petitioner filed this writ contending that the same was not required. of Customs issued a notice under Central Motor Vehicles Rule 126A for nonsubmission of homologation certificate. the CIT (Appeals) upheld the Assessing officer’s contention.29 Lacs Details & Current Status Sr. Parties Pending Before Subject of the Matter Amount Involved (Rs. (13) Reynold Traders Private Limited . Contingent liabilities not provided for as on 31-03-2004 related to Disputed Income Tax Demand of Rs. Ltd. 2004. The demand had arisen due to disallowance of loss on renunciation of Rights shares. which is yet to be decided. On appeal.431. The Company is in appeal to CIT (Appeals). As on March 31. No. 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. 8090 of 2003 Gagan Trading Company Ltd.) Facts Writ Petition No.54. 20 lacs.56. 2 1993-94 Rs. (11) Sun Investments Pvt. The Company is in appeal to Income Tax Appellate Tribunal. Current Status of Outstanding Litigation Case No. 20. 2004 pertained to dividend on preference shares (pro-rata) amounting to Rs.

.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. 1. 2004 are in respect of : Sr. Rs. Products produced Rs. has passed an Order in the favour of the company. The company has been denied benefits on its new/additional products manufactured by it.76 36.946 for the A. Vs.28 Sales Tax Matters: Sr No Parties Pending Before Subject of the Matter Amount Involved (Rs. Vs.Y. 199899 3. The Company is in the process of filing an appeal to CIT(Appeals) against the order. Jindal Steel and Power Ltd. The company has already deposited a sum of Rs. The company has already deposited a sum of Rs. Jindal Steel and Power Ltd. 20002001 The Company has been denied benefits on its new/additional products manufactured by it.396/. The Company has already deposited a sum of Rs. State Sales Tax Dept. 199798 2. Crores 459. 6.000/.against the amount demanded.02 208. State Sales Tax Dept. Board of Revenue Denial of benefits for New/Addl. Board of Revenue Surcharge imposed and less set-off allowed Rs. 82. 4.30.58 7.Y. 42.) Facts 1. No. (B) Promoter Group Companies (1) Jindal Steel & Power Limited Contingent liabilities not provided for as on March 31.340 for the A. Jindal Steel and Power Ltd.Information Memorandum Income Tax Demands For Assessment Year 2000-01.against the amount demanded. Products produced Rs. State Sales Tax Dept. By an Order dated April 29.58.20 5. 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. 2000 the Dept. 46. Board of Revenue Denial of benefits for New/Addl.94 - .75. Vs.000 against the amount demanded.for the A.20.38 14.000/.Y. a demand of Rs.

55 crores 2.03 installed within the factory.03 installed within the factory This case relates to service tax Reply sent on GTO service 01. Jt.1.06.12 . Chattisgarh Payment of Duty 1.03 **PH goods relating to power plant 25. Comm. of Central Excise Vs.11. 1998 to March 31. Cenvat Credit on capital Replied on 11.10.12*Adjourn 28.02. Jindal Steel and Power Ltd. Raipur Classificati on for imposition of duty 7. Comm.95 - .45 lacs The Dept.Information Memorandum Central Excise Matters Sr No Case No. of Central Excise High Court. The Department has imposed duty on Ladle Transfer Car by treating it as an item falling under heading 86 instead of 84.012 Cenvat Credit on capital Replied on 14. Asst Service tax on the services of Reply Sent 27. 2000.1998 after the Finance Act amendment in 2003. Other Excise Matters Case Ref.400 2300 37.679 1287 241.7. goods..05 .697 Asst Commisioner Excise Asst Commisioner Excise Asst Commisioner Excise Asst Commisioner Excise Asst Commisioner Excise Asst Commisioner Excise To the department.1998 to 17.697 1658 3. Parties Pending Before Subject of the Matter Amount Involved (Rs.874 2661 483. has imposed a duty of on two (2) Induction Furnaces for the period April 1. The company has paid an amount of Rs. The company has already deposited the amount. The matter had been appealed in the CESTAT by the company against the Order passed by the Comm.00 crores under protest. 1.220.9. V(CH86)15264/R/P R/JC/200 4/ADJ/51 88 Comm. Vs. Amount (Rs) Pending Before Description of the Case Present Status 1993 179. A case of difference of book Reply sent ON 29.04*ph Commisioner M/s NKK Corporation Japan 18.03.177.12.7*27.03 ** PH goods relating to power plant 5.772 9053 381. 3949 1.11. Modvat credit on capital PH over on 20/2/2001.) Facts 1.03 stock and physical stock taken by the department. the modvat Replied on 4/7/96 – No PH document does not appear to be genuine. Writ Petition Jindal Steel and Power Ltd.

CEGAT allowed modvat DEPT.297.01 * WRIT for 1. M/s HPCL. Commissioner Excise 4169 4. Cenvat credit on Hot metal Reply sent on 1.058 1303 1.2.31.9.131.04 include the amount of volume discount on freight availed from Indian Railways in the assessable.03 Graphite Electrode as inputs.000 Add. Commissioner Excise Add. Remission of duty PH held 22. Ref APPL – High credit on refractory materials Court to us. Department has filed a Dept – Appeal – HC – PH petition before High Court 4.3.98.042.8.061 Chief Commissioner Excise 346.05 Engineering Company of Germany.451 23446 717. Service tax on GTO service Replied 22.05*ph Study (Audit) by an 18.4. Sponge iron burnt in the year CEGAT Remand to CCE 2000.11.12. Service tax on Engineering reply sent on 28.2. Commissioner Excise 27.527.002.259 1489 2. Dept disputes that this item would be capital goods . Commissioner Excise 492 4. Commissioner Excise 21164 4.726.593 Asst Commisioner Excise Add. Jumbo Electric Platform truck as inputs and Ladle transfer car as capital goods. which stands in our favour.756 Appealate Tribunal Raipur High Court Bilaspur 1077 43. Cenvat credit as inputs on Reply sent . We have HC BSP also filed a writ petition before High Court.03.96.7. This case refers to deficiency OIO Received – full in the document of the Disallow –Appl to be filed supplier of the goods.417 3955 15. Cenvat on explosive used in Replied . Department proposes to Reply sent on 30. Cenvat credit taken on Reply sent on 11.96 - . The matter has been referred to High Court.02-NOT HELD against order of CEGAT. Commissioner Excise Add.04 on some old and used goods from factory to Nalwa Sponge. This is to be reversed.04 transport vehicle. Cenvat credit as inputs on Reply sent on 20.Information Memorandum Excise 4558 473.5.702 20755 2.10.037.98 to 1.832 Add.840 that we have taken in Japan itself (off shore service). Commissioner Excise Add.644 1005 Add.4.05 concrete sleepers and allied goods used for laying railway track in the factory.04 coalmine.2.02 denied by Commissioner.2004 rails and concrete sleepers and allied goods used in the factory This relates to demand of duty Replied on 10.606 High Court Bilaspur 19103 2187 Chief Commissioner Excise 6.6.

). Excise 981. (2) Jindal Stainless Limited Contingent liabilities not provided for as on 31. 3. 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.03. 2000-2001 and A. No.-20/9/94-NO PHCommissioner credit on capital goods. 3.Y.97 - .05 *4. 0.011. 8.1. 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. 7.Information Memorandum 953 3. Departmental 5.50 lacs (approx.4.4.104 3081 4576 2623 APPL*PH Appealate Classification of steel DEPT 09. 1999-2000. 4) The company has been served with two (2) Show Cause Notices from the Commissioner of Central Excise. A.Y.13 lacs (approx.31 Civil Matters: .) against which the company has already deposited an amount of Rs.) 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.745 Joint Cenvat credit taken on Reply sent.21 127. which in aggregate amount to a demand of Rs.Y. The aggregate amount demanded is Rs. 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.93 254. The company is disputing the levy.03.PH held Commissioner Graphite Electrode as inputs. 3) The Gram Panchayat has served a notice upon the company imposing Local Body Tax of Rs.323 Joint Dispute relates to modvat PRE-OBJ.05 appeal pending in CESTAT.05*29. 592.06 5.79 5.39 lacs (approx.511.2004 are in respect of : Sr.938 Appealate Cenvat on explosive used in DEPT APPEAL ** PH Tribunal Delhi coal mine. Raipur for an amount of Rs. This is to be reversed. 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. 66. in Crores 34. 1.74 lacs (approx.32 lacs (approx.).319.) against which the company has already deposited an amount of Rs.26 3.

had acquired 2. Supreme Court of India Service Tax . Jindal Stainless Ltd. Writ Petition No. was the negotiating Bank. Jindal Stainless Ltd. on account of the freight paid for the . subsequently. 49. Jindal Ltd. However. ICICI Bank KBC Bank N.in favour of Surya Impex. 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. New York Branch And Surya Impex.Information Memorandum Parties Pending Before High Court.500/alongwith interest. Hisar for Hearing Development Charges Upon instructions of Jindal Stainless Ltd.98 - .48. ICICI Bank opened letter of Credit of US$4. yd.163 The Excise Department has levied Service Tax @ 5% on Rs. V. HVPNL has filed this Appeal. Civil Court. The Municipal Corporation. KBC Bank N. filed a suit for specific performance and obtained a decree in its favour. 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. V.48.5 Acres of land from HVPNL which is situated between its two factories.e. Civil Court. Amount Involved (Rs. Union of India & ors. Hisar had made a demand for development charges in respect of a club constructed by Jindal Stainless Ltd. Facts Haryana Vidyut Prasaran Nigam Limited (HVPNL) Vs Jindal Stainless Ltd.259/on account of the services provided by goods transport operators i.23.1997 to 1. V. 120/per sq. 9.For the period 16. Hisar LAND 15.V. KBC Bank N.44. Vs. 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. HVPNL cancelled the allotment.) Potential liability of USD 4.00. New Delhi Subject of the Matter Suit dismissed as infructuous. Jindal Stainless filed an Appeal in the Delhi High Court challenging the order of dismissal of the suit.6.606 of 2002 Jindal Stainless Ltd. Stainless V/s.71. in its factory premises @ Rs.000/- Municipal Corporation (Hisar) Vs Jindal Stainless Ltd. Excise and Service Tax Matters 1.500/.Jindal Stainless Ltd.11. 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.1998 Rs.

6. Commission er. 1994 January. Jindal Stainless Ltd. 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.163/under protest.1997 to 1. electric items.11. November and December. Commissioner decided the case in favour of the Company. 49. 1996 Rs. Jindal Stainless Ltd.998 period from 16.188 (in all Eight Appeals) 3. Refractory items etc.99 - . 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.Information Memorandum 2. A/380387/2001 – NB(D) (Eight Appeals) (Northern Bench) Commissioner of Central Excise Vs. Gurgaon Modvat Credit on capital goods For the period April. the Department . 1996 to July.14.05. 1996 to March. 49.1998. Rs. 57. 1995 June. The Department has levied Modvat Credit on capital goods namely Electrical and Machinery items and issued a Show Cause dated October 23. 1996. The company has paid the amount of Rs.71. The Department has levied Modvat Credit on capital goods namely electrical goods. Being aggrieved. Commission er (Appeals). The company replied to the Show Cause Notice and Asst. 1996. Appeal/Delhi – III/45/2001 Central Excise Commissioner Vs. Before Central Excise. 1995 to May. Rohtak for Hearing For the period September.

1944 for its opinion vide an Order dated November 9. filed an Appeal before the Commissioner (A) and the same is pending.2004 issued by Commissioner of Central Excise. 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. 2000. Rohtak Commission er of Central Excise. 78. - Show Cause Notice C. The Department has alleged that the company is supplying power . The Department has levied Modvat Credit on capital goods namely Refractories and Refractory items.100 - . 19. 2004 to June. The Department has levied Modvat Credit on capital goods namely Wires and Cables. Gurgaon Rs. - Central Excise Commissioner Vs. Rohtak Modvat/ Cenvat credit For the period January. 21.33.000/- 6.003/- filed Appeal before Commissioner (A) and the same is pending.69. Jindal Stainless Ltd.Information Memorandum 4.000/- 5. No. 2004 Rs. Jindal Stainless Ltd. 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. The case was held against the Department and subsequently the Dept. High Court.06. IV (HQ)361/Tech/Jind al/D-V/04/14357 dated 28. - Central Excise Commissioner Vs.12. Delhi Modvat Credit Rs. Commission er (Appeal). The Company filed a Reference Application before the High Court against the order of CESTAT on Capital goods namely: Brass Casting Articles.

(6) Brahmputra Capital And Financial Services Limited Non-payment of dues is as follows: Name of the Statue Income tax Act. 12. Non-payment of dues is as follows: Name of the Statue Income tax Act.45. 1961 Nature of the dues Income Tax Demand Forum where dispute is pending 1. 1961 Nature of the dues Income tax demand Amount (Rs) 80.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.81.748.719/.101 - .ITAT. 1961 Nature of the dues Income tax demand Amount 10. 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.23.58. New Delhi (4) Renuka Financial Services Limited Non-payment of dues is as follows: Name of the Statue Income tax Act.161 Forum where dispute is pending CIT (Appeals). New Delhi Amount .869 Forum where dispute is pending ITAT. 3.636/-. 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.

The demand has arisen on account of add back of interest payable amounting to Rs.15.32 lacs. (13) Sapphire Technologies Limited Income tax Demands For Assessment Year 2002-03.085.3. which the Assessing Officer had treated as no longer payable.55.62 Lacs has arisen due to disallowance of Website Development expenses incurred by the Company.92 lacs. 2004 related to disputed Income Tax demand for Rs.71.750/. For Assessment Year 2002-03. a demand of Rs. Contingent liability not provided for : Arrears on fixed Cumulative Dividend on preference shares Rs. • (10) Kamshet Investments Private 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.(Previous Year 28. the CIT (Appeals) has upheld the disallowance.3. 1.220) (8) Opellina Finance & Investment Pvt.43 lacs has arisen due to recomputation of Capital Gains considering a higher sale value by the Assessing officer.15. 10. a demand of Rs. 41. (11) • Musuko Trading Private Limited (MTPL) Contingent liabilities not provided as on June 30. Ltd. 197.70 lacs. The Company has filed an appeal to CIT (Appeals) against the order. On appeal. The Company has filed an appeal to CIT(Appeals) against the order.915/.(Previous Year 24. 2004 relate to Income tax demand disputed in appeal pertaining to assessment year for Rs.032/-) (9) • Baltimore Trading Private Limited Contingent liabilities not provided as on June 30. The Company is in the process of filing an appeal to CIT (Appeals) against the order.Information Memorandum (7) Gagan Sponge Iron Private Limited Contingent liability not provided for : Arrears of Cumulative Preference Shares dividend Rs. 1.22 lacs.102 - . . (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. 81.23. The demand has arisen on account of interest disallowance by the assessing officer. a demand of Rs. On appeal. The Company is in appeal to ITAT and the matter is pending.15 Lacs has arisen due to recomputation of Capital Gains considering a lower purchase cost by the Assessing officer.

Pursuant to Karnataka Electricity Reforms Act.23 lakhs. 573. 14449. 24.95 lakhs. 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.Information Memorandum (14) Jindal Thermal Power Company Limited Contingent liabilities not provided for as on March 31. 2. 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. No.30 lakhs. 1999. 2000 for supply of power. (JTPCL) The Govt. Parties Pending Before Supreme Court of India for Admission Subject of the Matter Modification of Power Purchase Agreement (PPA) Amount Involved (Rs. 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. Similarly. 10890.103 - . net of Rs.) Nil Facts Karnataka Electricity Regulatory Commission (KERC) Versus Jindal Thermal Power Company Limited & Ors.72 lakhs claimed by the Company towards rebate for prompt payment on another loan from the same Financial Institution. of Karnataka had granted permission to JTPCL for selling power directly to industrial units and the balance to KPTCL. 2004 1. 1 Case No. JPTCL entered into a Power Purchase Agreement with KPTCL in November. JTPCL filed an . Outstanding Litigation Sr. 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.

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. income tax and other levies (excluding interest) Rs. KPTCL has filed this appeal before the Supreme Court against the Order of the Karnataka High Court. in crores 5. No.01 149. 2005: Sr. (15) Jindal Vijayanagar Steel Limited Contingent liabilities not provided for as on March 31. Tax Matters 2. 4. Particulars Claims against the Company not acknowledged as debts Bills discounted Disputed claims including those pending in Courts for excise & custom duties. 1.71 crores i. 3. Parties Pending Before Subject of the Matter Amount Involved (Rs. No. levied interest u/s 234B and 234C of the Income tax Act. 55 lacs with the Court.) Facts appeal against this order before the Karnataka High Court.Information Memorandum Sr.84 Labour Cases There are six (6) labour related matters against JVSL for issues such as dismissal from employment. Case No. the Net Tax Liability (after adjusting refunds and payments) The Tax Dept. sales tax. accident at the COREX-I site in July 2002 and compensation claims aggregating to Rs. Bangalore for Arguments For the Assessment Year 2001-02 & 2002-03 0. 2. of Income Tax & Anr. Karnataka High Court.e.7 lacs. .104 - . An interim stay has been granted in favour of JTPCL upon depositing Rs.81 487. Jindal Thermal Power Company Limited (JTPCL) Versus The Deputy Comm. which set aside the order passed by KERC.

Civil Judge (Sr. Bellary.S. Bellary Steel has filed the Writ Petition to Stay Income Tax Department Notice reopening the assessment for the Assessment Year 1997-98 . 2. which were their during the acquisiton of landTrial going on. Bly & JVSL Gavisiddana Gouda Vs Asst.J. Original application No. Commr & LAO.The Trial has Commenced in the court.Dvn) & CJM. Bellary Steels & Alloys Ltd Vs IT Dept.Dvn) & JMFC. Bellary who is the Revenue Authority.Shankar Reddy Pending before Addl. Sandur 210000 Since there was a dispute between the parties.R. Jindal Vijayanagar Steel Ltd. Bly & JVSL JVSL Vs Smt..P. 3109/2002. Rs. Civil & Other Cases Case No.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. Hosagerappa of Kudithini based on the orders of Asst. 3111/2002 Addl. Commr. 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. 3110/2002. 200000 Status The parties have gone on appeal for enchancement of compensation against the land acquisition-Trial going on. The petitioners have filed a case for compensation for the tamarind trees. LAC No. Recovery of loan with interest Amt. LAC No. The plaintiff is claiming 100% ex-gratia (i. Yarabanahalli Vs The General Manager (A&LA).27 lacs. RoranagalluL Civil Judge (Jr.e.17 crores The matter has been filed by banks seeking various sums from Bellary steel and others. as we have paid the ex-gratia to Shri. JVSL is one of the respondents Debt Recvery Tribunal. Bangalore 3006000+ interest High Court of Karnataka for hearing Reopening of Assessment by the Department 2. K. 30. JVSL is a debtor of Bellary Steel and has been served with a garnishee notice for an amount of Rs.Nos. we have paid the ex-gratia as per the orders of Asst.Gouramm a/ Shri. 16 / 2000 @ 91 / 2002 Parties Uppara Hanumanthapp a & another Vs Asst. 30.4/2005 Smt.10. 17 / 2000 @ 92 / 2002 C.000) to herself.190/03 Writ Petition 10713/200 4 SBI & others VS Bellary Steels & Alloys Ltd & others in which JVSL is one of the respondents.60 lacs. The parties have gone on appeal for enchancement of compensation against the land acquisition-Trial going on.Dvn) & CJM. Commr & LAO.105 - .Commr. Civil Judge (Sr.Bheeman Gouda and Sri. Bellary High Court of Karnataka 200000 300000 O. Rudramma.

P.450 (for cost and interest for demurrage) and claiming Rs.45 (for dispatch earned & interest) and $ 118. K. No. Parties Pending Before High Court of Karnataka.311. S. Vs. No. 7B(p). Toranagallu 361 D(p). 8350Ex-gratia to be paid Claimant expired. 1 C(p). The Plaintiff thereafter withdrew the suit in 1999.) Nil Facts The Dy. Sanna Thimmana Gouda Amt.family dispute not received.) -- David James & Sons Vs. 2. the limestone was found to be of a different size than the one desired by JVSL. 1880 of 2000 Mewar Growth Ltd.family dispute not received. 365 E Kurekuppa Criminal Cases Sr. NO.90 crores (approx. 1. & Ors. Bellary Amount Involved (Rs.106 - .Devanna 34800Ex-gratia to be paid by the co. On receipt of the consignments. The Claimant has filed this matter for the demurrage for the delivery of the limestone at the Goa Port. Village Vaddu Name of the Ex-land owner Dodda Thimmana Gouda. The Claimant was required to supply certain quantity of limestone to JVSL under a contract. 60000Ex-gratia to be paid by the co. G. Bangalore Subject M at t er Corex Accident W.A. Case No. 3352 / 2002 JVSL Vs Dy. Bellary has initiated criminal ..P. No. Other Ex-gratia matters/cases List of ex-land owners to whom the payment of ex-gratia is to be made. Due to the variance in the size of the limestone..Information Memorandum Civil Suit No.P.17 crores The High Court has granted stay against the notice of the IT Dept. JVSL Calcutta High Court for reinstatement of the suit earlier withdrawn Shares 5. JVSL London Court of International Arbitration for filing Pleadings Demurrage Charges $ 57. 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. 538 of 1999. The Plaintiff has in 2002 made an application for reinstatement of the suit. Remarks 323 C / 1 Kurekuppa Chikka Basappa. the calcinations process in the lime calcinations plant was not to expected level. S.

Basappa who was an employee but was later dismissed by JVSL. 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. No. Details Value (Rs. Case No. V. A Stay Order has been obtained by JVSL against the Sub-inspector of Police. The Police have registered a case against the Jt. 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. G. Parties Pending Before Subject M at t er Amount Involved (Rs.Information Memorandum Sr.K. No 700/03 JVSL Vs The State by SubInspector of Police. C. 38526/2003 Mr. R.K. Toranagallu High Court of Karnataka for Trial Discrimin ation under SCST Atrocities Act Nil 3. P.) Facts 2. M. in Lakhs) Status . based on the Complaint filed by one employee Mr. Saini. Stay Order has been obtained by JVSL thereby prohibiting the Court from proceeding any further in the matter. 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. CRLP No.107 - . JVSL Vs The SubInspector of Police. No. MD & CEO and the GM (A&LA) of JVSL under SC-ST Atrocities Act.

The final hearing is scheduled on 19. issued by the Central Excise and Customs Authorities : . VIII & IX: awaited Order is SCN-X not yet issued by the dept. PH is awaited. Bangalore.Information Memorandum 1. PH is awaited in May’05. DRI Case – II – Demand of additional customs duty on warehoused goods.05. Response is awaited from Chennai Customs.05. Chennai Customs: Rs.04. material in nature. on Highgrade 47. Duty on interest free advance of Rs.00 5.150 Crore received by JVSL from JISCO.40 The Tribunal has already stayed the order passed by the lower authority.90 The Tribunal has already stayed the order passed by the lower authority.18 4. Demand of duty on refractories and lock hoppers of Corex-I. Final reply submitted. 4851. Customs & Excise (Down Stream SBU): The status of various show cause notices / demands.37 The Tribunal has already stayed the order passed by the lower authority. Demand of additional interest charges on warehoused goods 9. Bangalore.00 Based on the order passed by the Commissioner (Appeals).5.363. 2. 10.04. 23. 3.740.4. The final hearing is scheduled on 11. • • • • • SCN-I : Order is awaited SCN-IV: Order is awaited SCNs-V & VI: Final hearing is scheduled on 20. The final hearing is scheduled on 19. Show cause notices for demand of excise duty on sale of Corex gas supply to JTPCL / JPOCL.108 - .05 SCNs-VII. The final hearing was held on 04.99 Appeals pending before the CESTAT / Commissioner (Appeals).00 1103. The Tribunal has already stayed the order passed by the lower authority.05. 104. 4920. Order is awaited.5. Met-coke import: CG given for Anti Dumping Duty (ADD) 908.05.5. 6.00 Appeal before the High Court of Karnataka has been filed. Input credit pellets. The final hearing will be held on 27. Levy of differential duty on scrap: Goa Customs: Lakhs Rs.00 Pending before the Supreme Court of India. The Tribunal has already stayed the order passed by the lower authority. our Stay-cumappeal has been filed before the CESTAT.05.00 Lakhs 8. Input credit on Corex chilling: 62. 7.

23 Reply to show cause notice filed – Nothing further has been heard. (Rs in Lakhs) Status 1. Appeal pending for hearing before the Appellate Tribunal. for which the Company obtained stay from the High Court of Karnataka. Appeal pending for hearing before Tribunal. 50. Description Amt. 2.e. (Rs in Lakhs) Status 1. contingent liability of Rs. 3. Further. 0.79 Amount debited under protest. 7. 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 0.2005.23 Appeal pending for hearing before the Assistant Commissioner of Sales-tax (Appeals). 10.03.36 Reply to show cause notice filed – Pending for hearing before the jurisdictional commissioner. Details Amt. 01. 6.10. Comm. 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.00 Appeal pending for hearing before the Commissioner (Appeals). 47. Disallowance of Cenvat credit availed in respect of furnace oil used in captive power generation.269 lacs (approx) is provided on account of new levy imposed by Karnataka Government w.) 1.75 Reply to show cause notice filed – Pending for hearing.30 lacs have been debited under protest. Sales Tax (Down Stream SBU): Sr. Sales tax liability on account of nonsubmission of Form F in respect of branch transfer.20.89 Appeal pending for hearing before the Appellate Tribunal. Withdrawal of DEPB Benefit on account of difference between the declaration in shipping bill and physical examination of goods. 2. 18.89 Rs. on account of not furnishing Form C and Form F.78 lacs A demand was raised by the CST Dept.109 - . Income Tax (Up Stream SBU): .04 under Special Entry Tax Act-2004. No. The Forms have now been submitted and a revised order is expected.f. 85.00 Appeal pending for final hearing before the Appellate Tribunal. No.Information Memorandum Sl. 5. Imposition of penalty under Rule 209A of the Central Excise Rules. 1. 4. of CST Vs JVSL There are no cases pending in respect of Sales tax & Entry tax for the period ended 31.

Penalty levied u/s 271(1)(c) in respect of addition made in the assessment order passed u/s 143(3). 10. amount transferred to lease equalisation. No.775 Income Tax (Down Stream SBU): Sl. 2.96 Appeal being filed before the Commissioner of Income-tax (Appeals) 2036. Status 1. based on facts. as there is no question of law is involved. provision for diminution in value of investments etc. 201(1A) for demand of withholding tax on usance interest received from income tax department 6. Company appeal for assessment of interest under the head Business Income as against Other Sources.99.41 Appeal being filed before the Commissioner of Income-tax (Appeals). Total 1891. No. interest receivable written-off.50. Notice of penalty u/s 202(1) r. Payment made other Bank called by Dept. Details Value in Rs.s. unutilised modvat credit. 3. interest & other expenses capitalised in books. 10. Status . JVSL has replied penalty notice denying the liability relying on High court and Tribunal decisions.79 Service Tax (Up Stream SBU): Sr. No.110 - .97. Description Usance Interest in Rs. The Income Tax Department has filed an appeal before Karnataka High Court against order of Income Tax Appellate Tribunal. Description Amt. Additions / Disallowances made in the assessment orders passed u/s 143(3) to Normal Income in respect of Surplus on repurchase of own debentures. reduction of depreciation as per Income-tax on slump sale.Information Memorandum Sr. 2 Appeal to Karnataka High Court against order of Income Tax Appellate Tribunal for Assessment Year 1995-96. interest disallowed u/s 14A and additions made to Book Profit in respect of provision for doubtful debts and advances.w. (Rs in Lakhs) Status 1.42 Appeals pending for hearing before the Commissioner of Income-tax (Appeals) / Appellate Tribunal. 134. Recently the tribunal decision has been reversed by High court. 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.618 The demand made by Dept. The High Court may not frame a question for reference. is in respect of usance interest paid through ICICI on usance LC. The Tribunal has allowed.

Ex. The remaining eight notices have already been decided in favour of JVSL. VAI. Bellary and the order is expected at any time. USA (Rs. 500 by Excise Authorities in FY 2003-04 for wrong claim of CENVAT.2005 at Mangalore and order is expected.81.34 lacs. Bellary appeals have been filed before the Commissioner (Appeals).975261) and Alsthom Power. 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.1. Based on the orders passed by the AC. (16) Jindal Steel & Alloys Limited Outstanding Litigations: Excise Matters Dispute on demand of duty on Interest charged in Invoice raised by JISCO: Rs 21. the hearing is completed on 24. Penalty of Rs.19 lacs imposed by the Custom Authorities in FY 1997-98 for wrong removal of imported equipments from the bonded warehouse. The Customs Dept issued a show a show cause notice upon JSAL stating that the benefit of the notification was not available .42.21 Lacs plus penalty of Rs 37 lacs. 1.Rs 2. the final assessment is still pending. 758. C.Ex. Russia (Rs. The Final hearing is awaited. Penalty of Rs. : JSAL supplied some steel strips to some companies for further export. Austria (Rs.368 Replies to the notices have been submitted by the advocates on behalf of foreign parties. JSAL removed goods under Form AR.2005 at C. Show cause notice has been received for duty demand on Interest charged in Invoice raised.111 - . has given show cause notice for payment of duty of Rs.50 lacs.2089786) during implementation of the project. 7. Custom Matters Custom Duty – Custom dept.1. Mangalore in respect of VAI & Amet.. Bank Guarantee provided to Excise Dept .Information Memorandum 1. In the case of Alsthom Power.71216321). 37.. Amet Ltd.. For provisional assessment of consignment sales made.27 lacs levied by BSE in FY 1998-99 for belated intimation of Book Closure dates. Penalty imposed by SEBI/Other Regulatory bodies • • • Fine and penalty of Rs. The hearing has been completed on 17. Service Tax Authorities have demanded service tax on consultancy services rendered by foreign parties namely. JSAL imported the consignment duty free under a notification.4A and declared that it has not avoided input stage credit. 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.

2001-02. which may become due to the Company.07. (17) Southern Iron And Steel Company Limited (SISCOL) As on December 31. If the bill of entry. 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. which has been filed being rejected. Civil Matters .68.557 Special Additional Duty: Rs.36. 35. the Company has paid the entire duty amount of Rs.36.340 and penalty and fines of Rs. An amount equal to 10% i. .000. However.e. ii.82.Rs. A sum of Rs. is accepted.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.05. The Company has replied to the show cause notice and has also represented at the time of hearing. 31.093 from the Customs Department.65.07. 0. The Company has subsequently received an adjudication order from the Commissioner of Customs demanding interest of Rs. 1352972 was paid to the Income Tax Department on basis of Assessement completed for A.Y.employee Mr.46.944 and interest of Rs. the Company had the following contingent liabilities: i. which has already been filed.112 - . The matter is pending before the Divisional Office of Central Excise. 4. 2004.60 lacs An ex. Disputes etc. Sanjay Sharma who was sacked for irregularities in his workings has filled a suit against the Company for his reinstatement as an employee. 67. Rs 440000 has been deposited on 5/10/2004. The outstanding amounts have since been paid and with this the above show cause notice has been settled. the same has been reflected as a contingent liability. However. A stay application has been filled by JSAL against the show cause notice. 67.19. Income Tax Matters Rs. the duty amount of Rs. Litigation.00. the Company has filed an Appeal against the Assessement Order. 1.945 which has already been paid will also be refundable. Other litigations The Special Director Enforcement has imposed a penalty of Rs. 3.44 Lacs for non-production of documentary evidence showing import of goods against remittance of Rs 4467512 under Sec 8(3) of FEMA. As against the demand for customs duty of Rs.Information Memorandum and demanded the payment of duty along with penalty.65.65. 3.950 No provision has been made for these amounts in this account.093 which the Customs Department has asked the Company to pay is payable contingent upon the bill of entry.311 Differential duty: Rs. due to non-receipt of official order. no credit has been taken for this refund. 4.19. 3.

844 in the execution application filed against M/s Simplex Engineering. The Company had filed Writs Petitions in the Madras High Court challenging the levy of belated payment surcharge of Rs. the Judgment Debtors in the Trichirapalli District Court. 16.77. CP no. 1956 has been filed in the Madras High Court for default in payment of Rs. The Company is in negotiations with the Public Works department to reach a settlement.099.221 in its books of accounts.000 to M/s Simplex Engineering. 1.90. 2004.57. the Company also requested that it be allowed to pay the peak hour charges of Rs. The final hearing is awaited. Further.35. Indo Fab has taken out garnishee order/attachment order in case no. 2004 has demanded a payment of Rs1. . the Company has made a provision of Rs. M/s Indo Fab Engineering ("Indo Fab") have obtained a decree of Rs. 3 lacs per annum and the matter is pending. 2.221 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. Ltd and M/s Simplex Engineering. The Company has made provisions of Rs.00. a provision of Rs. 3. Madras High Court has dismissed the Writ Petitions. Government of Tamilnadu for Rs. 697/1996) have obtained a decree and have applied to the court for garnishee order to the extent of Rs. TWADB stating that the royalty charges have been revised to Rs. However.199 (inclusive of belated payment surcharge of Rs. Writ petitions had been filed by the Company against the Tamilnadu Electricity Board in the Madras High Court contesting the levy of Electricity Tax. Mettur Electricity District Circle.054.35.30. 2. 1998 from Executive Engineer. 2004 towards payment of these dues. in another case (OS No. 2003 on power generated by generator or the captive power plant. 1. As the Company owed Rs.89. 54. By an order dated November 02. 94.900 has been made in the accounts for the increase in the charges. OS700/96 to the tune of Rs. The Company is representing to TWADB for charging the originally agreed royalty of Rs. A demand has been made on the Company by the Public Works department.e. A winding up petition under Section 433 and 434 of the Companies Act. Mettur Dam for payment of outstanding dues of Electricity Tax for the period February 2002 to December 2003.549 lacs per annum effective from 1993. 31. The Company as gone on appeal before the Division Bench of the Madras High Court. 3 lacs per annum. 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. 2004 from the Superintendent Engineer. 1.35. 11.95 crores in its books of accounts till December 31.77.77. 204 of 2004). the Madras High Court permitted the Company to pay peak hour charges of Rs. i.92 plus interest against two companies viz. Indo Fab.199 (without the surcharge) in twenty (20) equal installments.05.05. The Company has filed an affidavit disputing the claim in the before the Court (case no.30.000.03.As per the said Act and the rules framed thereunder.30. M/s Eastern Metallurgical Equipments Pvt. The Company received a letter dated October 15.00.199 in ten (10) equal installments and granted an order of interim stay in respect of the demand of surcharge. 25. The Company filed a writ petition challenging the provision of The Tamil Nadu Electricity (Taxation on Consumption) Act. 76. Tamilnadu Electricity Board by a demand notice dated October 11.099) being arrears of peak hour charges for the period July 2003 up to August 2004.Information Memorandum The Company had received a letter dated January 24. 2003. 16.00. However. 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 16.113 - . Pending final hearing of the writ petition. 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.734.89. The Company is in the process of filing an affidavit.

to reschedule redemption of balance 4 installments. The second installment for redemption of debenture due on May 17. 1995 Balance amount of Rs. 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. 81. symbolic possession has been given to the Company for 105 acres only. interest arrears and future interest as follows: . 20 each at the time of allotment on May 17. 30 to be treated as an Optionally Convertible Debenture (OCD) with an option of conversion into 1 equity share of face value of Rs. 6 (due on May 17. have included the Company as a party to the suit as the Company is principal employer. 2002. demanding award of a labour contract to a particular group of land-dispersed persons.356 plus interest thereon. The Company has replied to the notice disputing the above claim. 40 into 2 equity shares of Rs. the Company was not in a position to pay interest due for the period October 1. A resolution was passed in a general meeting of debenture holders convened on February 25. 23. starting from May 17. 2000. After May 17.114 - . 2000) was done by the Company except for the pending amount as stated below. 2000 onwards. However. 70 with a compulsory conversion of Rs. payable half-yearly in September and March. Civil cases One of the land dispersee has filed a case in the Court of the District Munsif of Mettur (case OS no. Employees of a labour contractor. 30 each after 3 years from the date of allotment (i. The Deputy Commissioner of Labour has referred the dispute to the Government of Tamilnadu for settlement as an industrial dispute. Salem (case no. 2001 could not be paid. Labour related cases A driver in casual employment. 329 of 2004) against the Company. has filed a case in the Labour Court. 70 were issued by the Company in March 1995 as per following terms mentioned in the prospectus: • • • • Face value of Rs.56 lacs and Rs. claiming employment in the Company. 10 each at a price of Rs. The Company has filed a writ petition to quash the order of reference. The Company was regular in making the interest payment up to September 2000. 1998. Due to lack of liquidity. Rescheduling of redemption of debentures Partial Option Convertible Debentures (POCDs) of face value Rs.Information Memorandum The Company had received a notice under section 433 and 434 of the Companies Act.e.a.29 lacs respectively. in November 2004 for default in the payment of Rs. 1998). to carry interest of 15% p. 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.65. claiming wage revision from the labour contractor. The first redemption of Rs. 6 each. 12. debentures on which option to convert into equity is not exercised. Government of Tamilnadu acquired 154 acres of land for the Company and passed an award for the 154 acres. engaged by an executive of the Company. 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. ID 106/2002) against the Company. Debentures to be redeemed in 5 annual installments of Rs. on or after May 17.

5. Chennai and has appeared before the court as a nominee director of Indian Natural Medical Products Ltd. A letter dated October 29.09. 2002 from IX Metropolitan Magistrate Court. 2006 May 17. Copy of this letter was also sent to RBI. Jain’s name is mentioned in the RBI list for willful default of Rs. advising that Mr.40 per debenture on 31. 5. Defaults in Servicing Debenture interest aggregating Rs.2003 totaling Rs. 10.56.56.130) has not been serviced by the Company.03. 2007 May 17. October 30. 1. 2001 May 17. 18 Rs.83.62. For the period 01.2003 onwards. P.52. An amount of Rs.40 per debenture on 30.12.2005. Subsequently. 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. 2004 was sent by SBI.80 per debenture to be paid in two installments as under: Rs. 2002 May 17. 2004 was also sent by WCSPL to SBI.Information Memorandum Principal Original due date May 17. in respect of West Coast Saw Pipes Limited (WCSPL).2000 to 30. 2005 May 17. CC 802/02 Hg dated August 29. 2004 (Rs.550 which was due on March 31.710) and December 31.10.10. 2003 May 17. a letter dated October 25. Industrial Finance Branch to WCSPL advising that the letter from WCSPL requesting removal of above name has been forwarded to ITCOT Ltd. September 30. 2002 and has not been associated with the company since then. In this regard. 7. 2000 for debentures issued by the Company has not been paid for want of surrender of debenture certificates for endorsement by the debenture holders. 83.300 being the first installment of redemption due on May 17. K. Mr. 25 lacs and above. Maharashtra for intimating the change in directors. 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. 2008 Amount payable per debenture for redemption Rs. 6 Rs.f. He is yet to be served with a copy of charge memo for the same. Jain had resigned as a director from the board of WCSPL w. Industrial Finance Branch forwarding the acknowledgement of form 32 filed with the Registrar of Companies for the resignation. N. 12 Rs.2003 and Rs. 2004 Interest • Interest for the period from 01. Saidapet.115 - .52.2004 • • Interest for the delayed payment calculated at the same rate of 15% to be paid on 31.e. 2002 with Registrar of Companies. 4. WCSPL filed Form 32 on November 25.70. 6 Rs. 2004 (Rs. Mr. 6 Nil The defaults in servicing in accordance with above terms are given below. However. Rescheduled due date May 17.09.31. Jain from the list. Litigation against Directors of SISCOL Mr. (Industrial Technical Consultancy Organisation of Tamilnadu Limited) (C) Associate Companies (1) South West Port Limited (SWPL) . 1.57. Shanmugasundaram has received summon no. 6 Reduced principal Rs. 6 Rs.710). 2004 (Rs.

00 Outstanding Litigation Cases filed by the Excise Department Sr.96 270.47 crores Facts SWPL is disputing the claim. as despatch and levied duty upon the same.116 - .00 % p.75 lacs. No. Amount Involved (Rs. currently pending before arbitration. 3. 1.88 crores 2.a. SWPL has also filed a Counter Claim of Rs. Venting of Liquid Products has been treated by the Dept. JPOCL CESTAT Claim of Duty 7. 1. Case No. 2. 155. the Evidence dredging work stage carried out at Ltd.80 crores Venting of Gases has been treated by the Dept. (2) Jindal Praxair Oxygen Company Private Limited (JPOCL) Contingent Liabilities not provided as on March 31. the work had also not been completed within time. in lacs) Amount 111. No. No. the Marmagoa Port Versus South West Port Ltd.) Facts 8 Appeals Comm.93 crores for delay and loss of profits due to a 45 days overrun along with interest @ 12. 3. to the extent the company does not expect any determination of liability in respect thereof amounting to Rs. Parties Pending Before Subject of the Matter Amount Involved (Rs. Outstanding Litigation Sr. Of Excise Vs. as despatch and levied duty upon . Particulars Bank Guarantees Excise Duty matters disputed by the company Claims against the company not acknowledged as debt (Rs. Parties Pending Before Subject of the Matter Jaisu Shipping Arbitration at Claims for the Company Pvt.Information Memorandum Contingent liabilities not provided for relates to claims made by a dredging contractor. 1. Excise Vs. 2003 were: Sr.) 3. Moreover. as the Claimant had not dredged the entire lagoon area stipulated under the contract. JPOCL Of CESTAT Claim Duty of 12.30 6902. 8 Appeals Comm.

Parties Pending Before Subject of the Matter Amount Involved (Rs. Denial of MODVAT availed by JPOCL on the Capital Goods to the extent of 25% on project imports.22 lacs 1. Comm.) Facts 3. Claim of Duty 60. Technical Services and Field Service Agreements. Of Excise Vs.117 - .74 crores Duty on reimbursement of expenses Duty on reimbursement of expenses Service Tax payable on Engineering Services of Praxair Inc.22 lacs 55. Comm. JPOCL Comm.93 lacs 5. Duty on Infrastructu re Services Duty on MTOP Duty on IT Reimburse ment 8. Comm.51 crores 116 of 2002 JPOCL Vs. Of Excise JPOCL Vs.Information Memorandum Sr. Of Excise JPOCL Vs. Of Excise Comm. Denial of MODVAT availed by JPOCL on the Capital Goods (SS Plates and 25% on project imports. Denial of MODVAT availed by JPOCL on the Capital Goods. 4 cases CESTAT Claim of Duty on Captive Consumption 51. Of Excise Vs. Venting of Liquid Products has been . Comm. 1 case Comm. Of Excise Asst. 1 case 7.16 lacs Cases filed by JPOCL against the Excise Department Case No. Of Excise Vs. 2 cases 6. Claim of Duty 1. Comm. Of Excise Vs.48 lacs 2 cases JPOCL Vs. Comm. Comm. Comm. Comm. Of Central Excise (Appeals) Asst.. JPOCL Comm. Comm.98 lacs Duty reimbursement expenses on of 2.) Facts 4 cases JPOCL Vs. Of Asst. Case No.87 crores the same. JPOCL CESTAT Claim of Duty 1. Denial of MODVAT credit 2. Comm. Comm. Of Excise (A) Duty on Infrastructure Services Duty on Infrastructure Services Service Tax 1.06 crores 10 Appeals JPOCL Vs. JPOCL Comm. Venting of Liquid Products has been treated by the Dept. Of Excise Comm.74 lacs 2 cases JPOCL Vs.77 lacs 11. Comm. LOX Consumption Captive 4. 2 Appeals Comm. Of Excise Comm. Of Excise Vs. Comm. JPOCL CESTAT Asst. Asst. Of Excise (A) Claim of Duty 90. Parties Pending Before Subject of the Matter Amount Involved (Rs. No. as despatch and levied duty upon the same. Of Excise (A) and Asst.

N. advising that Mr. Jain were not promoter directors on WCSPL and requesting SBI to inform RBI to update their list of defaulters by removing name of Mr. 25 lacs and above. Industrial Finance Branch to WCSPL advising that the letter from WCSPL requesting removal of above name has been forwarded to ITCOT Ltd. Industrial Finance Branch forwarding the acknowledgement of form 32 filed with the Registrar of Companies for the resignation. letters dated October 25. N. WCSPL filed requisite Form 32 with Registrar of Companies.f. A letter dated October 29. K. as despatch and levied duty upon the same. Jain from the list. 2004 was sent by SBI. Mr. K.118 - . in respect of West Coast Saw Pipes Limited (WCSPL). Of Excise Commissioner of Excise (A) Claim of Duty 5. Maharashtra for intimating the change in directors. However.Information Memorandum 3 Appeals Excise (Provisional Assessment) JPOCL Vs. K. Copies of these letters were also sent to RBI. Sajjan Jindal and Mr. Sajjan Jindal and N. as despatch and levied duty upon the same. Against subsidiaries of JSWHL JSWHL has no subsidiary company/ies. June 28. K. Sajjan Jindal and Mr. Jain’s name are mentioned in the RBI list for willful default of Rs. 2004 were also sent by WCSPL to SBI. 2002 respectively and has not been associated with the company since then. Sajjan Jindal and Mr. . N. Mr. In this regard. Venting of Gases has been treated by the Dept. Jain had resigned as director from the board of WCSPL w. 2002 and October 30. (Industrial Technical Consultancy Organisation of Tamilnadu Limited). Comm.21 crores treated by the Dept.e. Against Directors of JSWHL There are no pending litigation/default against directors of JSWHL except mentioned below. Subsequently.

119 - . no government license/approval is required by it to carry on its activity. .Information Memorandum GOVERNMENT APPROVALS Since JSWHL is a holding / investment company with no business other than making investments and providing consultancy services. An application is being filed with Reserve Bank of India for registering the Company as NBFC.

Information Memorandum

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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Information Memorandum

DIVIDEND POLICY

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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Information Memorandum

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 6.10.2.7 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. the Statement of Capitalisation as set out in Annexure VI which has been prepared based on audited information. 37606 Place : Mumbai Date : 28th April 2005 .7(h) of the Guidelines have not been disclosed. The summary of significant accounting policies adopted by the Company is enclosed as Annexure III to this report. No. 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. Disclosure of the Tax Shelter Statement as required by paragraph 6. Hence the information regarding analysis of outstanding unsecured loans in accordance with the paragraph 6.Information Memorandum 2.2. 2005. Chartered Accountants Vipul K. The Company has not taken unsecured loan. they have been correctly computed from the figures stated in the Statement of Assets and Liabilities and Profit and Loss as referred above. 3. For Shah Gupta & Co.7 (i) of the Guidelines is given in note 7 of Annexure IV.2.10. 4. We report that in our opinion. The Notes to the Statement of “Assets & Liabilities” and ‘Profit & Loss Account’ are enclosed as Annexure IV. 5. 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. The Company has not declared dividends during any financial years covered in this report. 7.123 - . approved by the Company and annexed to this report. Choksi Partner M.10.

20 1.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 .13 10.96 52. Reserves Less Revaluation Reserve Reserves (Net of Revaluation Reserves) Less: Misc.04 B C D 4.10) 344. Expenditure Networth Note: Share Capital includes an amount of Rs.87) (8.02 4.124 - .29 53.28 E 0.121.64) 9.net Current Assets.23 0.43 (3. 2005 to Shareholders of JISCO (erstwhile) in the ratio of 1 equity share of Rs.00 0.32 0.088.98 14.06 52.19 1.70) 4.96 Lacs on account of allotment of Equity shares on 16th March.28 2005 for 6.05 13.00 (0.121.59 0.10) 10.43 0. Share Capital (see note) 2.78 0.23 (0.32 4.52 0.791.22 6.109.30 5.12 9.217. 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.06 (13. .00 (4.23) (3.43 13.85 9.28 8.02 0.57 0.74) 53.35 6.1099.217.30 F G Net worth Represented by 1. 2003 2004 Rupees in Lacs 8.135.91 1. 31.87) (4.08 2.29 14.12 0.10 each for every 4 equity shares held by them in JISCO (erstwhile).28 1.35 43.59 10.

34 12.06 0.76 4.33 504.Current Add: Deferred Tax Assets Net Profit after Tax * Since the said company is an NBFC and not manufacturing company there is no sales.50 0.53 19.33 0.Information Memorandum Annexure II STATEMENT OF PROFITS AND LOSSESS 2002 Year ended March.37 529.66 15.42 560.42 (5.42 5.33 5.125 - .22 27.21 0.71 36.34 0.09) (5. Break up of other income is : Dividend Interest Consultancy Fees Profit on sale of Investments - 0.65 1.23 0.21 0.66 560. 31.18 0.48 - - 0.50 0. 2003 2004 Rupees in Lacs 2.90 532.50 0.66 .15 0.09) 560.005 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 .50 0.29 0.

Information Memorandum Annexure III SIGNIFICANT ACCOUNTING POLICIES (a) General a. less accumulated depreciation. which is accounted on receipt basis. (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. If any indication exists. Deferred tax assets arising from timing differences are recognized to the extent there is reasonable certainty that this would be realized in future. using the tax rates and laws that have been substantively enacted as of the Balance Sheet date. (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. An impairment loss is recognized whenever the . Leave Encashment: As determined on the basis of accumulated leave to the credit of the employee as at the year end. The deferred tax for timing difference between the book and tax profits for the year is accounted for. 1956. an asset’s recoverable amount is estimated. The company follows Mercantile system of accounting and recognizes Income & Expenditure on accrual basis except dividend. ii. 1961. (b) Fixed Assets Fixed assets are stated at cost of acquisition.126 - . In case. Provident Fund: On actual liability basis. (d) Investments Long term Investments are stated at cost. 1956 except otherwise stated. b. (e) Retirement Benefits Liability in respect of retirement benefits is provided and / or funded and charged to Profit and Loss Account as follows: i. including any attributable cost for bringing the assets to its working conditions for its intended use. (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. 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. a provision for the same is made in the accounts. there is a permanent diminution in the value of investments. and those with significant uncertainties and in accordance with the applicable accounting standards.

127 - . (i) Miscellaneous Expenditure Preliminary Expenses and Share Issue Expenses are written off over a period of ten years. 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. the estimated future cash flows are discounted to their present value based on an appropriate discount factor.Information Memorandum carrying amount of an asset exceeds its recoverable amount. .

Pursuant to the Scheme of Arrangement and Amalgamation (Scheme) sanctioned by Hon’ble High Courts of Bombay and Karnataka on 3rd September.000 3.265.10 each to the Shareholders of JISCO (erstwhile) in the ratio of 1 equity share of Rs. 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.Information Memorandum Annexure IV NOTES ON FINANCIAL STATEMENTS 1.243 The aforesaid difference has been credited to General Reserve as per the ‘Scheme’ approved by Hon’ble High Courts of Bombay and Karnataka.250 5.155.510 545. a. 2003 in accordance with the Scheme. as disclosed in Schedule B. d From 1st April.10 each for every 4 equity shares held by them in JISCO (erstwhile).824 . The Company has incorporated investments and Loans & Advances at fair value as determined by the valuer.749.334. 2003. which is allowed as per Accounting Standard (AS) 14 “Accounting for Amalgamations” issued by the Institute of Chartered Accountant of India. 2005 respectively.5.923.334 865. Accordingly. 2004 & 20th January. the Company has issued 10. along with certain loans & advances.753.753.625 fully paid up equity shares of Rs.996. Ltd (JISCO)(erstwhile).493 109. referred to as Investment division has been transferred to the Company with effect from 1-4-2003 (Appointed date). JISCO (erstwhile) had carried the Investment division in “trust” on behalf of the Company. 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.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. 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. c Rupees Investments & Loans & Advances Less : Amount of Equity shares issued to the shareholders erstwhile JISCO Excess Credited to General Reserve of 5.999. the Investment Portfolio of Jindal Iron & Steel Co.128 - .155. The difference of Rs. b Pursuant to the Scheme.

129 - . The Company is in the process of completing necessary formalities for registration. 33. 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. The Company has become a Non Banking Finance Company (NBFC) as per Reserve Bank of India Act. 7. 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. 4. the Company has: (i) Adjusted net Deferred Tax Liability of Rs. Segment Reporting Based on guiding principles given in Accounting Standard .03. 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.2005 Rupees (a) Expenses covered by Section 35 D of the Income Tax Act.408/. 1993. Loans and Advances have a value on realization in the ordinary course of business. 2. As company’s business activities falls within a single primary business segment the disclosure requirements of AS-17 in this regard are not applicable. In the opinion of the Board.713 2003-2004 Rupees 3780 - 5.101/. 2005 include the figures of JISCO (erstwhile) from the said date.as at 31st March 2004 against General Reserve and (ii) Recorded Deferred Tax Assets of Rs. 2003 (Appointed date) the Balance Sheet as at 31st March.37. Net Deferred Tax Assets comprises: the 27.17 ‘Segment Reporting’.550 11. the Company’s primary business segment is Investing & Financing. Current Assets. 1961 88. These activities mainly have similar risks and returns. Hence.for the current year. at least equal to the amount at which they are stated.020 36. 1.Information Memorandum e In view of aforesaid Scheme with effect from 1st April. 3. Remuneration to the Auditors: 2004-2005 Rupees Audit Fees Tax Audit Other services Out of pocket expenses (including Service Tax) 6. 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. the figures of the current year are not comparable with those of the previous year.499 . Deferred Tax Liability : As at 31. 1934.

500 Nil 1.000. 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.145 (a) Expenses covered by section 35 DD of the Income Tax Act.629.000.Information Memorandum (b) Depreciation Deferred Tax Assets : 23. Related party relationship is as identified by the management and relied upon by the auditors. 2. 1961 2. Details relating to investments in the above related parties have been disclosed in Schedule C "Investments".922 Nil Nil Previous Year Referred to in (a) (i) above (Rupees) Nil 1.337 8.983 Previous Year Referred to In (a)(ii) above (Rupees) 17. (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 48.900 9. . Ltd.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: 1.167. Related Party Disclosures.130 - . Computation of Basic and Diluted Earnings per share: 381. as required by Accounting Standard 18. “Related Party Disclosures”.15. Sun Investments Pvt.000 18.

not comparable with that of previous year. There are no internal or external indications existing on the Balance Sheet date indicating that an asset is impaired.131 - . Current year’s figures include the figures of investment business of JISCO (erstwhile) and hence. 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. 10/.204) 100. 1956 are either Nil or Not Applicable.099.618 11.09) Profit (loss) after Tax (As per Profit and Loss Account) Total Number of shares Earnings Per Share (Basic and Diluted) (Face Value – Rs. .) 10.000 (5.77 2003-2004 Rupees (509.per share) (Rs. The additional Information pursuant to Part II of Schedule VI to the Companies Act. 11.Information Memorandum Particulars 2004-2005 Rupees 52.948.625 4. Previous year figures have been regrouped/ rearranged wherever necessary to confirm with current year’s presentation. 12.

000 0.321.618 (309.000 (3.09) 11.948.264 RONW 3 Net Asset Value (a)*100/(b) 0 2.77 Net Profit after Tax Net Worth (a) (b) 500.205) 5.000 0 22.473 (509.23 (509.Information Memorandum Annexure V Accounting Ratios 2002 1 Earning Per Share For the year Ended on March.728.132 - .728.000 (5.948.618 11.000 50.099. 31 2003 2004 2005 Net Profit after Tax No.099.625 479.473 100.36 (309.684 936.204) 100.09) 52.000 9.205) 5.321.000 22.684 100.264 100. of Shares EPS 2 Return on Net Worth (a) (b) (a)/(b) 50.995 Net Assets No.45 . of Shares NAV (a) (b) (a)/(b) 500.625 4.204) 52.000 10 936.422 - 0.

121.06 - NOTE: Since there are no Long Term and short term Debt.06 53.133 - .13 1.231.110. total Debt / Networth and Debt/ Equity ratio is not applicable.87) 5.00 52.00 (4.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. .

insolvent or person of unsound mind. In addition to these clauses. No share shall in any circumstances be transferred to any infant. etc. Transmission of Shares 60. A person entitled to a share by transmission shall. subject to the right of the Directors to retain such dividends or money as hereinafter provided. matters to be decided at board meetings.Information Memorandum MAIN PROVISIONS OF THE ARTICLES OF ASSOCIATION OF JSWHL Following are the main clauses of the Articles of Association of JSWHL. if any. 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. 66. the survivor or survivors shall be the only persons recognised by the Company as having any title to or interest in such share. as a member. that if such person shall elect to have his nominee registered. can be perused from the Articles of Association which is available for inspection as mentioned at the end of this Information Memorandum. . any dividend or other moneys payable in respect of the shares. and the Company shall not be bound to recognise such executors or administrators or holders or successors or the legal representatives. 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. and until he does so. or by any lawful means other than by a transfer in accordance with these Articles. provided nevertheless. he shall testify the election by executing in favour of his nominee an instrument of transfer in accordance with the provisions herein contained. as the case may be. the Board may dispense with production of Probate or Letters of Administration or Succession Certificate. 64. as the Directors may require. provided that in any case where the Board in its absolute discretion thinks fit. be entitled to receive and may give a discharge for. 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. from a duly constituted Court in the Union of India. 62. 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. with the consent of the Board (which it shall not be under any obligation to give).134 - . he shall not be freed from any liability in respect of the shares. may. 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. bankruptcy or insolvency of any member. the other clauses including inter alia relating to restriction on transfer of shares. There shall be paid to the Company in respect of the transfer or transmission of any number of shares such fee. 63. 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. 65. Subject to the provisions of the Act and Article 57 and 58 any person becoming entitled to shares in consequence of the death. 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. lunacy. unless such executors or administrators or legal representatives shall have first obtained Probate or Letter of Administration or Succession Certificate.

though it may have been entered or referred to in some book of the Company. 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. Subject to the provisions of Section 260. 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. . 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. 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 such additional Director shall hold office only up to the date of next Annual General Meeting. 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. notwithstanding that the Company may have had notice of such equitable right. 261 and 264 of the Act.Information Memorandum person having or claiming any equitable right. in any book of the Company. A Director of the company shall not be bound to hold any qualification shares. 120. Nirmal Kumar Jain 3) Dr. 1) Until otherwise determined by a General Meeting of the Company and subject to the provisions of Section 252 of the Act. The first Directors of the Company shall be : 1) Mr. 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. and may have such notice. the number of Directors (excluding Debenture and Alternate Directors) shall not be less than three nor more than twelve. 122. 264 and 284 (6) of the Act. Sajjan Jindal 2) Mr. Subject to the provisions of Section 261. title or interest to or in the said shares. State or Local. 121. Board of Directors 116.135 - . The Directors may also agree that any such Director or Directors may be removed from time to time by the appointer entitled to appoint. which may occur as a result of any such Director or Directors ceasing to hold that office for any reason whatever. title or interest or be under any liability whatsoever for refusing or neglecting so to do. 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 Directors shall have. Central. subject to the provisions of Section 255 of the Act. nominate them and the appointer may appoint another or other in his or their place and also fill in vacancy. or referred thereto. 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. who are acceptable to the Board. but so that the total number of Directors shall not at any time exceed the maximum fixed under Article 112. 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. 2) 117. title or interest or notice prohibiting registration of such transfer. Saibal Kanti Gupta Whenever Directors enter into a contract with any Government.

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. receipts. Subject to Section 259 of the Act. 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. divide among the contributories in specie any of the assets of the Company and may with the like sanction. or effects shall be deposited or for any loss occasioned by an error of judgement or oversight on his part. 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.136 - . 136. in addition to his fee for attending such meeting as above specified. he shall be entitled to be repaid and reimbursed any traveling or other expenses incurred in connection with the business of the Company. 195. . but subject to the rights attached to any preference share capital. lodging and other expenses. securities. 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. Indemnity And Responsibility 194. 138. under supervision or compulsory) may. Manager or other Officer of the Company shall be liable for the act. 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. 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. Winding up 193. boarding. A retiring Director shall be eligible for re-election. and if any Director be called upon to go or reside out of the ordinary place of his residence on the Company’s business.Information Memorandum 124. The Board may allow and pay to any Director. 135. insolvency or tortious act of any person with whom any moneys. 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. from time to time. increase or reduce the number of Directors. the Company may by Ordinary Resolution. 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. with the sanction of a Special Resolution. such sum as the Board may consider fair compensation or for traveling. Subject to provisions of Section 201 of the Act no Director. The liquidator on any winding-up (whether voluntary. or for any other loss. 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.

5A – Dr. Ltd.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).00 p. These documents have been delivered to The Stock Exchange. without reference to the shareholders. Mumbai along with this Information Memorandum. 2005. 2005. Mumbai – 400 026 for inspection from 10.m. 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. 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. G. K.m. 2004 and 20th January. 2005 of the Honorable High Courts of Judicature at Bombay and Karnataka respectively approving the Scheme of Arrangement 7) Tripartite Agreement between the JSWHL. N. Ltd.00 a. JVSL and their respective members and creditors. Sharepro Services (India) Pvt. JSWHL. to 4. Sharepro Services (India) Pvt. which are or may be deemed material are available at our registered office of JSWHL at Jindal Mansion. Patel in connection with his appointment as Jt. 6) Orders dated 3rd September. Managing Director & CEO. (Registrar and Transfer Agent) and National Securities Depository Limited (NSDL) dated 23rd day of February. . 9) A copy of the draft Agreement being executed between JSWHL and Mr.137 - . Deshmukh Marg. (Registrar and Transfer Agent) and Central Depository Services (India) Limited (CDSL) dated 14th day of February. 8) Tripartite Agreement between the JSWHL.

Managing Director & CEO Place : Mumbai. 2005.138 - . Date : April 28. Patel Jt. N. SIGNED ON BEHALF OF THE BOARD OF DIRECTORS For Jindal South West Holdings Limited K. .Information Memorandum DECLARATION All statements made in this Information Memorandum are true and correct.

Shah Gupta & Co. 1961. M/s. 2000. as amended from time to time The Delhi Stock Exchange Association Limited Earnings per Equity Share Equity shares of the Company of Rs. Mumbai The Securities Contract (Regulation) Rules. 1956. 1957 The Securities and Exchange Board of India constituted under the SEBI Act Securities and Exchange Board of India Act. NSE & DSE ********* Stock Exchanges : . as amended from time to time SEBI (Guidelines for Disclosure and Investor Protection) 2000 issued by SEBI effective from January 27.T. 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 – 400 026 The Registrar of Companies. and where specified for other Companies.139 - .Dr.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. Mumbai Compounded annual growth rate Central Depository Services (India) Limited The Companies Act. 1992. Net Asset Value National Securities Depository Limited The National Stock Exchange of India Limited Reserve Bank of India Jindal Mansion. including instructions and clarifications issued by SEBI from time to time BSE. G.. as amended from time to time. Maharashtra. as amended. Chartered Accountants. Deshmukh Marg. 5A .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. 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. Mumbai The banks which is the banker to JSWHL Board for Industrial and Financial Reconstruction The Board of Directors of JSWHL The Stock Exchange.

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