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-

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

instrument. 2004 and January 20. K. the National Stock Exchange of India Limited (“NSE”) and The Delhi Stock Exchange Association Limited (“DSE”).3 and 8. K. Shailesh Haribhakti Authority for Listing The Honourable High Courts of Judicature at Bombay and of Karnataka vide their Orders dated September 3. Managing Director & CEO Mr. above relaxation is also subject to JSWHL confirming the following: - -5- .5. subject to applicable regulations. Such listing and admission for trading is not automatic and will be subject to fulfillment by JSWHL of listing criteria of BSE.3. if any w. Sajjan Jindal.f. Mumbai – 400 002. Jain Dr. Deshmukh Marg. The aforesaid Order of the Honourable High Court of Judicature at Bombay was filed by JSWHL with the Registrar of Companies (“ROC”). 2003 (i. the Equity Shares of JSWHL issued pursuant to the Scheme as well as existing shares of JSWHL issued for the purpose of incorporation shall. 1st April. stands transferred to and vested in JSWHL so as to vest in the JSWHL all the rights. NSE and DSE for such issues and also subject to such other terms and conditions as may be prescribed by BSE. Chairman Mr. 2005. NSE and DSE at the time of the application by JSWHL seeking listing.5. 1956. Gupta Mr. Mumbai on November 22. Marine Drive. Atul Desai Mr. which is the Effective Date of the Scheme.e. 2004 and the Order of the Honourable High Court of Karnataka was filed by JSWHL with the ROC. be listed and admitted to trading on The Stock Exchange.3. vide its letter no. Maharashtra. Maharashtra. Further. Patel.3. the Appointed Date under the Scheme). CFD/DIL/SR/38545/2005 dated April 15. S. N. 11-132705 – registered with : The Registrar of Companies. have approved the Scheme of Arrangement & Amalgamation between Jindal Iron & Steel Company Limited (“JISCO”). K. pursuant to the provisions of Section 391-394 of the Companies Act. or deed. Maharashtra.e. Jindal South West Holdings Limited (“JSWHL”). N.1 (iv) – (viii). Mumbai. In accordance with the said Scheme. G. subject to subsisting of charges and pledges. without any further act. Subsequently. 100. Jt. 2000. Mumbai (“BSE”). Registration No. Board of Directors 1) 2) 3) 4) 5) 6) Mr. Mumbai on February 4. Mumbai – 400 026. 1957 (SCRR) subject to JSWHL complying with the provisions of Clauses 8.5. title and interest of JISCO therein. Jindal Vijayanagar Steel Limited (“JVSL”) and their respective members and creditors (the “Scheme”) whereby the Investment Division of JISCO.4 of SEBI (DIP) Guidelines.Information Memorandum GENERAL INFORMATION Name & Registered office of the Company Jindal South West Holdings Limited Jindal Mansion. 2005 respectively. 2005 has granted relaxation from the applicability of Rule 19(2)(b) of the Securities Contract Regulation (Rules). SEBI. 8. 5A – Dr. Everest.

2000 excludes the following: i) Promoters and persons acting in concert of pre-arrangement listed transferor company. Prohibition by SEBI The Company. containing information about itself and Group Companies to BSE.Information Memorandum a) For the purpose of satisfying at least 25% of post-scheme paid up capital of unlisted transferee company. JSWHL has made the said Information Memorandum available on its website. the “Public Holders” referred in clause 8. namely. certify or endorse the correctness or completeness of any of the contents of this Information Memorandum.4 of SEBI (DIP) Guidelines.3.3. namely. Jindal Iron & Steel Company Limited as defined in SEBI (Substantial Acquisition of Shares & Takeovers) Regulations. or -6- . Disclaimer Clause of BSE As required. The company has filed applications with BSE for listing of above Equity Shares. or warrant that this Company’s securities will be listed or will continue to be listed on the BSE. 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. namely. JSWHL has submitted its Information Memorandum. a copy of this Information Memorandum has been submitted to BSE. Jindal South West Holdings Limited b) Neither the unlisted transferee Company. JSWHL will comply with the aforesaid conditions stipulated by SEBI.3.4 of SEBI (DIP) Guidelines. ii) Any shareholder of pre-scheme unlisted transferee company. 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. Jindal South West Holdings Limited nor its promoters/directors are debarred by SEBI from accessing the capital market. 1997.5. JSWHL will publish an advertisement in the newspapers containing its details in line with the details required as per clause 8. 2000 or any other material issued by or at the instance of the Company and anyone placing reliance on any other source of information would be doing so at his or her own risk.1 (iii) of SEBI (DIP) Guidelines. Jindal Iron & Steel Company Limited. its promoters.5. namely. its directors. NSE and DSE for making the said Information Memorandum available to public through their websites. The BSE does not in any manner: warrant.5. namely. Jindal South West Holdings Limited to be with public holders of shares in the pre-arrangement listed transferor 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.

NSE.Information Memorandum take any responsibility for the financial or other soundness of this Company. Demat Credit JSWHL has executed Agreements with NSDL and CDSL for admitting its securities in demat form. a copy of this Information Memorandum has been submitted to NSE. Listing Applications will be made to BSE. nor does it in any manner warrant. Credit Rating This being an issue of equity shares. 2005). Disclaimer Clause of the NSE As required. its promoters. its management or any scheme or project of this Company. The Company has filed applications with NSE for listing of its equity shares. JSWHL has nominated BSE as the Designated Stock Exchange for the aforesaid listing of the shares. No ratings have been received by the Company for other securities/instruments in the last three years. no credit rating is required. The Company has made allotment of equity shares in demat form to those shareholders who have provided necessary details to the Company and/or who were holding their shares in JISCO in demat form as on the Record Date (February 25. certify or endorse the correctness or completeness of any of the contents of this Information Memorandum. nor does it warrant that this Company’s securities will be listed or will continue to be listed on the NSE. its management or any scheme or project of this Company. Every person who desires to apply for or otherwise acquires any securities of the Company may do so pursuant to independent inquiry. 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. 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. -7- . Filing Copies of this Information Memorandum being filed with BSE. Remaining shareholders were allotted shares in physical mode. NSE and DSE for permission to deal in and for an official quotation of the Equity Shares of the Company. 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. Every person who desires to apply for or otherwise acquire any securities of this Company may do so pursuant to independent inquiry. its promoters. and DSE in due compliance with the directive issued by BSE. nor does it take any responsibility for the financial or other soundness of this Company. JSWHL shall ensure that all steps for the completion of necessary formalities for listing and commencement of trading at all the Stock Exchanges mentioned above within such period as approved by SEBI. and it should not for any reason be deemed or construed to mean that this Information Memorandum has been cleared or approved by the BSE.

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

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

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

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

research. to make feasibility studies. associations (incorporated or unincorporated). hold. manufacture. sell or otherwise dispose-off shares. purchasing techniques and business (including construction of plants and buildings). design. sales. to provide technical know-how. 2004 . plant operation.50 crores. securities of any Company. render advise on planning. sell or otherwise dispose-off any company or companies. material and cost control. Date December 6. negotiable instruments. administration. commencement or expansion of industry. concerns. stocks. bodies. Change in Memorandum of Association of JSWHL since its inception. marketing. production. government. debentures. 2003 Particulars Increase in Authorised Share Capital from Rs. municipal and local bodies. finance and organisation. 2001 and it was granted certificate of Commencement of Business on September 5. whether in India or elsewhere and for this purpose of invest in. The main objects of JSWHL as set out in its Memorandum of Association are as follows: 1) To form. acquire. construction and technical services and to render such other services as are usually rendered by consultants for and in connection with the management.15 - . production in all types of industries to and for institution. Alteration of Clause 21 of Memorandum of Association July 27. administration. sell or otherwise deal in shares. to provide procurement. 2001. incorporate or promote. plant and merchandise. debentures or other securities in such promotee companies and also to otherwise invest in. financial. whether in India or abroad 2) To carry on the business of acting as advisors and consultants on all matters and problems relating to the technical industries. acquire. underwrite. hold. export and import. civil. 25 lakhs to Rs. 11. public body or authority. departments and services of the government. supervision. Scientific Research and Development centres and also to entire into any arrangements by way of turnkey project involving supply of technical. civil. management. development. stocks. advertisement. Human Resource Development. bonds.Information Memorandum HISTORY JSWHL was incorporated on July 12. assist in acquisition of plant and machinery. public or local authorities. trustees. personnel. 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. publicity. debenture stocks. purchases.

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

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

He is a strong supporter of team building and core competence. He was with Standard Industries Limited for 21 years prior to joining the Jindal Group. he has gained enormous insights into the workings of many successful companies overseas. He joined Jindal Iron & Steel Company Limited (erstwhile) as Vice President (Finance) in August. Mr. theatre and reading.Information Memorandum Mr. Mr. K. Jain has been invited as a core member of various corporate management groups. Jindal is a young and dynamic entrepreneur who believes that India is a global destination for industry and trade. Patel Kantilal Narandas Patel is a Commerce Graduate from Mumbai University and Fellow Member of Institute of Chartered Accountants of India.D. From inception.Sc. Ph.) . he led JISCO’s tremendous growth in turnover. N. Corporate Financial Management and also Human Resources. Having extensively traveled to Asia. Nirmal Kumar Jain. light music. prior to joining the Jindal Organisation.18 - . Jain has been closely associated with Jindal Vijayanagar Steel Limited.). Jain Mr. 1995 and was responsible for Corporate Finance. Mr. He has made significant contribution in the areas of Financial Management. 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. N. Management Information Systems and Corporate Taxation. His personal interest lies in reading. 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. Patel is also Director of Jindal Steel & Alloys Limited. Engg. K. D. Europe and USA. He also acted as Director (Commercial) & Director (Corporate Affairs) of JISCO. Mr. Gupta Dr. Dr. theatre and sports. Mr. N. which is implemented by Jindal Organisation with JISCO as the lead promoter. Project Identification & Appraisal. (Tech. K. He believes that the key to success for any entrepreneur is to change his business model ahead of time.Sc. He made significant contributions in the areas of Strategic Planning. Joining as General Manager – Finance in 1992. He was with Permanent Magnets Limited for 22 years. Jain holds a fellowship from the Institute of Chartered Accountants and The Institute of Company Secretaries of India.). K. Sapphire Technologies Limited. light music. Accounts and Taxation. (Tech. He was Executive Vice Chairman of Jindal Iron & Steel Company Limited (JISCO – now merged with JVSL). He is Chairman of JSW Power Limited and also director of other Jindal Group Companies. Jindal Technologies and Management Services Private Limited & other companies. integrated steel plant. Gupta is B. His professional interests include management development / training and his personal interests lie in yoga. (Met. S. 58. Mr.

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

2.. Mr. Perquisites and allowances shall not exceed overall ceiling of Rs. He also served as ASSOCHAM Nominee on the J.Information Technology Committee of the Indian Merchants’ Chamber (IMC) 2001 Chairman – Corporate Governance Committee of ASSOCHAM 2001 Arbitrator – Appointed by Indian Council of Arbitration. house maintenance allowance together with reimbursement of expenses or allowances for utilities such as electricity. Compensation of Managing Directors / Whole time Directors An agreement being executed between JSWHL and Mr. Remuneration : (a) The remuneration of the Jt.Information Memorandum Mr. 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. Shailesh Haribhakti Shailesh Haribhakti is a senior Chartered Accountant and Managing Partner of Haribhakti & Co. K.04. medical insurance. some of which are given below: • • • • • • • President – Indian Merchants’ Chamber 2003-04 Chairman . within the overall ceiling as mentioned above has been fixed as under: - (b) . 6 lacs per month. Further.20 - . the aggregate value of all the perquisites and allowances like furnished accommodation or HRA in lieu thereof. IT in today’s business scenario and Valuation. N. He has been with the Group since 1978. This draft agreement will be available for inspection at the registered office of the Company. 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.R. He served as the President of Indian Merchants’ Chamber for 2003. financial and management services in India. Managing Director & CEO. K.04 and as Chairman – Corporate Governance Committee of ASSOCHAM in 2001. Managing Director & CEO is eligible to the following compensation: 1. medical reimbursement. N. He writes prolifically on the web and in various newspapers and magazines. Period : Five years from 28. Bonus. Managing Director & CEO of JSWHL. He is on the Board of some reputed listed Companies also. Mr. furnishings and repairs. Patel setting out the detailed terms and conditions of his appointment as Jt. ESOPs & Privately Placed Equity and on the Naresh Chandra Committee on Corporate Governance. and CEO of Haribhakti Group. Patel shall not exceed a maximum ceiling of 125% of his Basic Salary.04. His contribution to the corporate world and society comes through the leadership roles.2005 to 27. Haribhakti has made vast contributions to the corporate world and society through various leadership roles.2010. Performance Incentive. Currently the remuneration of Jt. having a presence of more than five decades in the areas of accounting. club fees and leave travel concession for himself and his family. Managing Director & CEO will be so fixed by the Board of Directors from time to time that the Salary. Patel who is the Jt. Accounting Standards. Verma Committee on Sweat Equity.

and c) Encashment of leave at the end of the tenure. 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. Provident Fund. 5. b) Gratuity as per rules of the Company (which shall not exceed one half month’s Salary for each completed year of Service). if required. Managing Director & CEO Remuneration Committee --- . For the purposes of calculating the above ceiling. In addition. 1.21 - . subject to the approval of Central Government. Patel Non-Executive Jt. perquisites shall be evaluated as per Income-tax Rules. N. Sitting Fees Mr. The following perquisites shall not be included in the computation of the ceiling on remuneration specified above: a) Contribution to Provident Fund.000/. In the event of loss or inadequacy of profits in any financial year. Managing Director & CEO shall be paid remuneration by way of salary and perquisites as specified above. JSWHL has already appointed independent directors to its Board and has also constituted the Audit Committee. 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. 4. 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. 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. Shareholders/Investors Grievances Committee and Remuneration Committee as required by Clause 49 of the listing agreement to be entered into with the Stock Exchanges. 3. Details are as follows: Board of Directors Category Audit Committee --Member of Investors/Shareholders Grievance Committee --- Mr. K.Information Memorandum Basic Salary : Rs. Jt. 1961. the Jt.70. Patel. Superannuation Fund or Annuity Fund to the extent these either singly or put together are not taxable under the Income Tax Act.(Rupees One Lakh Seventy Thousand Only) per month. Superannuation etc. 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. Sajjan Jindal Mr. wherever applicable.

S. S. K. Managing Director & CEO w.900 246 --- Mr. Manoj Kumar Mohta has been appointed as Deputy General Manager. K.e. K. Shailesh Haribhakti Non-Executive Independent Independent Independent √ -√ √ √ √ √ -- √ √ √ -- JSWHL undertakes to adopt the Corporate Governance Code as per Clause 49 of the listing agreement to be entered into with the Stock Exchanges prior to listing. Jain Dr.e.2005 31.Information Memorandum Mr. N. N. N. Atul Desai Mr. N. the record date) 12.01.01.200 19.760 2.f. Gupta Mr. Gupta Mr.600 984 --No of Shares of JSWHL allotted as per the Scheme 3.189 550 4. reporting to Mr.e. Jt. Atul Desai Mr. Term of Office All the directors are liable to retire by rotation except Mr. Sajjan Jindal Mr. Patel. who has been appointed as the Jt. K. N. Mr. Sajjan Jindal Mr. N. Virendra Samani is appointed as Company Secretary and is looking after the Secretarial. K.22 - . K. K. 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.N. Patel Mr. K. Shareholding of Directors Name of Director No of Shares of JISCO as on February 25. Managing Director & CEO.f April 28. N. K. K. Change in Board of Directors of JSWHL since its inception Name Mr. Legal and Administration work of the Company. Patel. S. 2005 (i. Jain Dr.2005 Since incorporation Since incorporation 31. Mohta is responsible for Management Services Division and reports to Mr. the directors of JSWHL have no other interest in JSWHL. Patel has been appointed as Jt. Managing Director & CEO. N. Gupta Mr. K. Patel Mr.04. Atul Desai Mr. Shailesh Haribhakti Interest of the Directors Mr. 2005. Other than as stated above and the respective shareholding of the directors mentioned above. K. . Jain Dr. Mr. Shailesh Haribhakti Date of Appointment Since incorporation 28. Patel. Mr. Managing Director & CEO Appointed as Director Appointed as Director Appointed as Additional Director Appointed as Additional Director Management Organization Structure of JSWHL Mr. April 28.2005 Date of Resignation ------Reasons Appointed as Director Appointed as Jt. Managing Director & CEO of the Company for a period of 5 (five) years w. Patel is Jt.

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

of shares % of shareholding 133. Mr. Rajinder Parkash. 2005 is as follows: Sr.24 - . He is also the Chairman of Jindal Thermal Power Company Limited and Twenty-First Century Printers Limited. 1975.) Driving License No. the company is now a Non Banking Finance Company. aged 46 years.: 44304/Hissar Passport No.22 4.158 92.395 2. He was instrumental in setting up JVSL.01 1. (A) Promoter Companies (1) Jindal Strips Limited (JSL) The company was promoted by Late Shri O. The board of directors of the company comprises Mr. No.80 1.248 504.59 9.861 206. Mr. R. Jindal is the Vice Chairman and Managing Director of the merged entity. iv Everplus Securities & Finance Ltd v Mansarover Investments Ltd. Promoter’s holding 1 Promoters: Indian Promoters: i Gagan Trading Co. vi Nalwa Investments Ltd. mainly dealing and investing in securities. Mr. ii Sun Investments Ltd iii Colorado Trading Co. Ltd. Category No. The group companies have been classified into the Promoter Companies. Ltd. (Mech.794 62. Jindal and was incorporated on November 18. Sajjan Jindal.G. Garg and Mr. 1970 as Jindal Strips Private Limited. Jindal is the director in Jindal Aluminum Limited and South West Port Limited. He is also the director of Indian Institute of Management.: F 0256563 Mr. Promoter Group Companies and Associate Companies as given below. The name of the company was changed to Jindal Strips Limited on May 5.V. is Chairman of the Company. Mishra. He has more than twenty years experience in the industry. Indore and a member of TTD Development Advisory council and Bombay chapter of the Young President Organization.53 .P.20 1. Rakesh Garg. vii Stainless Investments Ltd.738 112. Consequent to the merger of the two companies. Shareholding Pattern The shareholding pattern as on March 31. H. Subsequent to restructuring.E. Mrs. Deepika Jindal. Mr. Mr.83 2. A.Information Memorandum PROMOTERS/PRMOTER GROUP COMPANIES AND ASSOCIATED COMPANIES Educational Qualification: B. He was the Chairman and Managing Director of erstwhile JISCO and the Managing Director of JVSL. Ratan Jindal.683 78.

23 2.44 (44.65 40% 15. in crores) is given below: Share capital .419 2.923 268.199 5.751 312.229 120. Institutions / Non.279.06 2.64 3.611 54 2.13 249.393 141. Financial Institutions.74 44.13 293.61 31.268 109. Ser.35 0.08 5.19) (86.361 1.687 185 2.565 30.07 8.25 - .145 257.12 1.Government Institutions) FIIs.205.) 2003-04 5.91 446.07 5.246.780 186.00 43. 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) 54.46 11. d. Insurance Companies (Central/ State Govt.63 2.26 12.856.994 488.00 55.59 778 32.62 1.000 55.05) 495.611 274.565 125.08 23.99 253.66 . Sub-total (3) Others: Private Corporate Bodies Indian Public i.51 5.Ltd x Hexa Securities & Finance Co.163 0.Equity Reserves and surplus (excluding revaluation reserves) Sales (including Excise duty) Interest and Dividend Income Other Income PAT Dividend (%) EPS (Rs. c.Information Memorandum 2 B. 3 a.35 0.00 1.00 Financial performance The financial performance of the company (Rs. 4 a.45 6.729 311. c.) BV (Rs.02 0.26 81.22 2002-03 5.Ltd xii Saw Pipes Ltd.437 0.56 2. b. viii Manjula Finances Ltd ix Vrindavan Services P. b.76 9.48 6.70 60% 5.136./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.41 1484.Ltd xi Jindal Equipment Leas & Con.24 2001-02 18.964 1.01 2.38 100.03 0.

50 251. in lacs) is given below: No.30 244.00 268.00 252. Om Prakash Jindal Mr.05 222. Particulars of investor complaints during the period April 2004 to March 2005 are as follows: Complaints Received: 540.00 310.00 218. Mr.0001 0. Rajendar Gupta and Mr. 257.60 365. (2) Jindal Holdings Limited The Company was incorporated on February 6.10 216.0001 0. Prithviraj Jindal Mr.00 294. Resolved/Replied: 520 and Pending:20.00 Low (Rs.) 197. Sajjan Jindal Mr.08 crores.90 243.0000 .Information Memorandum Stock Market Data Month September 04 October 04 November 04 December 04 January 05 February 05 March 05 NSE High (Rs.90 242.00 250. 1998.00 250.00 239. Sushil Bhuwalka Jindal Strips Ltd Jindal Steel & Power Ltd Total Financial performance The financial performance of the company (Rs.) 208.0001 86.10 197.0001 0. 132. of Shares 10 10 15 10 10 10 16085755 2414000 18499820 % of shareholding 0.80 330.0001 0.) 210.00 BSE Low (Rs.00 The market price of shares of the company (as on March 31. The average time taken by the company for redressal of complaints varies from 7 to 20 days. 2005) on BSE was Rs.30 284. 1990 in the State of Maharashtra and thereafter the registered Office of the company was shifted to State of Haryana on November 9.00 245.00 196.25 230.00 282. The Board of directors of the company comprises Mr.26 - . Ratan Jindal Mr. It is registered with RBI as Non Banking Finance Company and main business is to deal in securities. The company has engaged the services of a Registrar & Transfer Agent to handle the grievances of the investors.90 High (Rs.0488 100.0001 0.) 197. depending on the type of complaint.00 292.15 and the market capitalization was Rs. Naveen Jindal Mr. Madan Lal Gupta.9509 13.00 360. Mahesh Jain. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Mr.

3 FY02-03 167.040.13 (77.67 FY01-02 1849.31 14.000 1.000 640.000 2.55 No. P.70) Nil 32.05 17.000 2.581.200 2. Heston Securities Ltd.84 3. Sunil Mittal and Mr.250 27.000 2.06 441. The Board of directors of the company comprises Mr.000 2.44 13.627.) BV (Rs.457.581. Mr. The Company is engaged in the business of finance. Investment M/s R. D.12 5.750 181.477.82 0.01 (216.758.250 17.242. P.27 - .025. of Shares 1. Ltd.420.98 5699.256.00 (excluding .21 0.10 (10.08) Nil 34.12 3.95 7.74 18.62) 17.98 5699.320. Services Ltd M/s R.175 % of shareholding 6. Jindal Strips Ltd Jindal Equipment Leasing & Cons.420.750 181.44 14.29 100.732. Investment and finance related consultancy services.) BV (Rs.000 47.92) NIL (0.41 6.750 181.250 4.63) Nil 33.983.450 52.433.Information Memorandum Particulars Share capital Reserves and surplus (excluding revaluation reserves) Turnover /receipts Profit /(loss) after tax Dividend (%) EPS (Rs.12 83.927.61 12.60 FY01-02 167.08 (3) Stainless Investments Limited This Company was incorporated on September 15.) FY03-04 167.05 FY02-03 1849.08 NIL 0. Pental Holding Ltd.112.000 551.954.K.98 5699.717.420.44 14.37 (298.) FY03-04 1849.525 16.420. The Company was registered with Reserve Bank of India as Non Banking Financial Company (not accepting public deposit) on 12th March 1998. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Mansarover Investments Ltd Ever plus Securities & Finance Ltd Jindal Steel & Power Ltd.12 24. Sharma. 1982 as a Private Limited Company and converted into a public limited company.72 NIL 0.000 1.658. Mahender Kr.581.28 0. Estrella Investment Co. 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.433.433. Investments Beaufield Holdings Ltd Templar Investment Ltd.000 160.44 14. Goel.

44 100.Information Memorandum (4) Mansarover Investments Limited Mansarover Investments Ltd was incorporated on June 8.726 21. Heston Securities Ltd.000 1.000 218. .517.) FY03-04 1.5 20. Saxena and Mr.124.816. of Shares 115.9 No.038. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Abhinandan Investments Ltd. Templar Investment Ltd.500 300.000 1.43 2.000 1.000 218.000 15. 1981 as a Private Limited Company and subsequently became a public limited company. With effect from August 7. Jindal Holdings Ltd.442 NIL 1.01 13.28 - .The Company is registered with RBI to carry on the business of Non Banking Financial Company.78 13.54 1. Mr.500 10.000 1.000 218.816.816.697.538. Jindal Equipment Leasing & Cons.538. Ratan Jindal.500 912. K. D.828. Shallu Jindal.000 35.000 13. The Board of directors of the company comprises Mr.61 18. D.83 6.) BV (Rs. The Company is engaged in the business of finance. Stainless Investments Ltd.856. Vrindavan Services Pvt.22 19.00 (excluding (5) Jindal Equipment Leasing and Consultancy Services Limited The Company was incorporated on March 29. S. 1984 as Jindal Equipment And Finance Limited. Goel.538.000 1. Ashok Goel and Mr.816.39. Investment and finance related consultancy services.0023 NIL 0.01 13. Ltd.953.60 1.800 % of shareholding 0.17 FY01-02 1. Services Ltd Jindal Strips Ltd.01 2. 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.39. The Company was registered as NBFC with Reserve Bank of India (not accepting public deposit) on September 25.597.85.17 7.01 13.15 12. Manjula Finances Ltd. Mr. Ltd.000 1.783 2.823.000 13.500 199. Board of directors of the company comprises Mrs.383 (22.823.39. 1998. K. Pental Holding Ltd.68 FY02-03 1. S. Beaufield Holding Ltd.000 340.800 223. Estrella Investment Co.823.816.01 13. Goel.831) NIL 1. 1986 the name of the company was changed to Jindal Equipment Leasing & Consultancy Services Limited .

000.500 285.000 302. P.45 34.29 1.49 5.29 17.750.77 77.000 302.30.327. Ltd.000.000 419.750. Other individuals/HUFs Total Financial performance The financial performance of the company is given below Particulars Share capital (Issued.900 7.000.69 6.630. Jindal Strips Ltd. On March 21. of Shares 248.000 23. Mr.000 100.732.) FY03-04 FY02-03 FY01-02 No.000 19. Shareholding Pattern The shareholding pattern is as follows: . 100/-each Reserves and surplus (excluding revaluation reserves) Sales PAT Dividend (%) EPS (Rs.00 77.) NIL (1. Subscribed & paid-up) 7. S. Mansarover Investments Ltd.51 77.000 10% Cumulative Redeemable Preference Shares of Rs.000 23.000 1.732.39) 33.465.) BV (Rs. S.07 1.700 % of shareholding 3. R.000 65.600 (10.000 100.327 NIL 6.43 100. Renuka Financial Services Ltd Jindal Holdings Ltd.193.21 19.000 500.20.000 302. Jindal.26 40.570 NIL 1. Musuko Trading P.531.57 18.47 1.29 - .000 40.327.000 23.394.000 13.815. Stainless Investments Ltd.327.Information Memorandum Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Abhinandan Investments Ltd.80 6. Subhash Chandra Sharma.95 3.476 11. Ltd.300 1. Investment and finance related consultancy services.750. 1981 and is engaged in the business of finance.568. The Board of directors of the company comprises Mr.06 (6) Nalwa Investments Limited The Company was incorporated on February 6.003.000 1.127.000 521.700 Equity Shares of Rs. 10/-each 2. Aras Overseas P. Vrindavan Services Pvt.74 14. Sun Investments Pvt. Gagan Trading Co Ltd. Ltd.Ltd.000 115. 1998 the Company got registered with Reserve Bank of India as Non Banking Financial Company (not accepting public deposit).531. Saxena and Mr.792 48.

of Shares 1.000.500.457. O.221. Sun Investments Ltd.350 112.356. Mr.5) This company is listed on Delhi Stock Exchange Associations Limited.59) Nil (18.550 5.P.701.99 100. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Arti Jindal Naveen Jindal Sajjan Jindal S.700 100 10.19 24.50.35 0.Jindal & Sons HUF .500.10 5. 1998.89 4.59) (189) 4.000 Nil 39.500. Investment and finance related consultancy services. Parmod Garg.150 23. 10/-each 1.00 FY03-04 FY02-03 FY01-02 4.650 23.K. There has been no trading in shares in preceding six months (7) Abhinandan Investments Limited The Company was incorporated on April 6.) No.8) 4.400 32. On March 19.13 7.R.Information Memorandum Name of the Shareholder Abhinandan Investments Ltd.14 5. the Company got registered with Reserve Bank of India as Non Banking Financial Company (not accepting public deposit).000 10% Cumulative Redeemable Preference Shares of Rs.74 43. Deepika Jindal.038.Jindal R.26 5. of Shares 200 10. The Board of directors of the company comprises Mrs.26) (183.400.31 7.33 . Everplus Sec.100 34.000.000 140.34 NIL 52.000 Equity Shares of Rs.K.000 Nil 36.13 (136.) BV (Rs.000.35) NIL (5.Jindal & Sons HUF P.30 No.000 140.000 % of shareholding 0. & Finance Ltd.000 Nil 12.650 % of shareholding 0.K.34 1.753. Sunil Mittal and Mr.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.Jindal & Sons HUF S.850 197950 450.572.517.05 5. 100/-each Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs.713.101 (2.000 19.000 140.705 23. Subscribed & Paid-up) 4. 1983 and is engaged in the business of finance.

050 200.850 10.127 (7.650 13.) BV (Rs. Mr.HUF Ever plus Securities & Finance Ltd Sun Investments Pvt.650 10.502. Ms. Tauro.000 8.50 4. Swastik Udyog.33 6.10.060.986.03 100.000.650 23. R. a subsidiary of Jindal Strips. Sminu Jindal.000 Nil 23.e. A.907. Swastik Foils was amalgamated into the company in 1988-89.70) NIL (15.00 4.37 NIL 91.000 8.000 Nil 13.43) Nil (37.00 Shares of the Company were listed on November 28. There has been no trading in shares in preceding six months.812 18. which produces thicker gauge steel strips. 2005.f. Mr.000 10% Cumulative Redeemable Preference Shares of Rs.) (Equity Shares only) FY03-04 FY02-03 FY01-02 2. Ltd Stainless Investments ltd Mansarover Investments ltd Nalwa Investments ltd Jindal Strips Ltd Others Total 10. 10/-each 8.086. Mr.000 5.000.Jindal .000. Moosa Raza. The board of directors of the company comprises Smt. As part of backward integration.33 11. Mr.132.000 Nil 20.000 500 1. Savitri Devi Jindal (Chairperson) Mr.000 92. 1984 as Saw Pipes Ltd.945.741 (3.Information Memorandum Savitri Devi Jindal Deepika Jindal P. Mr.25 0.000 81. M.83 5. P.000. Kuldip Bhargava. The name of the company was changed to Jindal Saw Ltd.31 - .255. Shareholding Pattern . The company is an established player in the country for manufacturing and coating large diameter Submerged Arc Welded (SAW) line pipes. w. Financial performance The financial performance of the company is given below Particulars Share capital (Issued. S.000 Equity Shares of Rs. January 11. Satya Prasad and Mr. Purshottam Lal.9) 2. 1983 on Delhi Stock Exchange Associations Limited.J.28 (199.00 0. Jindal.3) 2.000 81. was merged with the company in 1991-92.93 5. V.000.409.A.000 81. Mr. 100/-each Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs. 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.000. Chaudhary.00.R. Subscribed & Paid-up) 2.00 46.43) (291. H. Devi Dayal.51) (276) (8) Jindal Saw Limited The company was incorporated on October 31.

The company has engaged the services of a Registrar & Transfer Agent to handle the grievances of the investors. of shares % of shareholding A.65 crores. 287.60 249.631.55 9.60 242.05 285.658 -2.00 Financial performance The financial performance of the company (Rs.56 1123. 2005.) BV (Rs.96 76. b.) 200.37 0.00 BSE Low (Rs.419 1763356 4864705 6262320 -12.13 42.00 191.890.264 4.32 - . 2005) on BSE was Rs.458 4. 2.05 215.) 188. Institutions/NonGovt.00 182.00 2003-04 38.381 38.34 15% 10.100 -21.35 The market price of shares of the company (as on April 5.00 305.00 236.) 183. in crores) is given below: Equity Share capital Reserves and surplus (excluding revaluation Reserves) Sales (including Excise duty) PAT Dividend (%) EPS (Rs.Total Others Private Corporate Bodies Indian Public NRIs / QCBs Any other (please specify) Sub .05 180.50 304.24 25% 14.Total B.Foreign Promoters Persons acting in concert Sub .) Stock Market Data Month October 04 November 04 December 04 January 05 February 05 March 05 NSE High (Rs.659.457. Financial Institutions.Indian Promoters .95 236.05 -7.Total Grand Total No.874. Institution. depending on the type of complaint. Insurance Companies (Central/State Govt.48 225.558 3. 4.80 242. 1.50 -55.50 235.30 235.35 242.25 c.00 192. The average time taken by the company for redressal of complaints is up to 15 days. . 1120.34 804. a.43 102.68 754. Nil complaints were received and pending from Equity shareholders during the period December. Non Promoters’ Holding Institutional Investors Mutual Funds and UTI Banks. Foreign Institutional Investors Sub .40 Low (Rs.88 4.52 -33.41 91. 3.98 290.) 205.90 287.50 and the market capitalization was Rs.355 97. a.07 100.90 High (Rs. d.702.90 2001-02 46.08 25% 19.32 76. b.50 250.58 2002-03 38. 2004 to March.25 212.755. 1.800 45.30 56. 2005 is as follows: Category Promoters Holding Promoters: .98 335.26 11.Information Memorandum The shareholding pattern as on March 31.30 244.979. c. 17.

c.00% Shares of the Company listed in April. Financial performance The financial performance of the company (Rs. M.Information Memorandum (9) Colorado Trading Company Limited This Company was incorporated on January 17. of shares 100 100 % of shareholding 0.82) 10. b.89 Nil 74. 41300 198600 239900 240000 17.Govt. in lacs) is given below: Particulars Share capital (including preference share capital) Reserves and surplus (excluding revaluation reserves) Sales PAT Dividend (%) EPS (Rs.37 (10) Gagan Trading Company Limited . 1983 on Calcutta Stock Exchange Association Limited and no trading has taken placed during last 6 months.Total B.59) 10. a. P.41) Nil (0. Insurance Companies (Central/State Govt. Institution. Shareholding Pattern The shareholding pattern is as follows: CATEGORY PROMOTERS HOLDING Directors Persons acting in concert Sub . L.) FY-03-04 224 0. The Board of directors of the company comprises Mr. Mr. The Company has not issued any rights or a public shares in last five years. 1983 and is in the business of investment and trading in shares.75% 99.37 FY-02-03 224 0. Financial Institutions. 1.37 FY-01-02 224 0.96% 100.04% 0.00 Nil 30.56) Nil (84. R. R. d. 3. NON PROMOTER’S HOLDING Institutional Investors Mutual Funds and UTI Banks.04% - A. Institutions/Non. Jain. Foreign Institutional Investors Sub . 2.89 Nil (203.89 Nil (1. Gupta. R.33 - . a.84 10.Total GRAND TOTAL No. b. c.Total Others Private Corporate Bodies Indian Public NRIs / QCBs Any other (please specify) Sub . 4. Swami and Mr.) BV (Rs.21% 82.

450 2. R. 1983 as a public limited company. P.30. Gagan Trading Co. The company was reconverted into a private limited company on April 5.75 *(0. Mr.100 2.90 (3150.64) (8.000 5.71 13. It is into the business of investments. Beaufield Holdings Ltd. Mendeza Holding Ltd. P.S.00 * EPS has been arrived at after considering Dividend on Redeemable Cumulative Preference Shares. Bavneesh Gulati.880.65) 471. Mr.40) No. in lacs) is given below: Particulars Equity Share Capital Reserve and Surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.90 (3241.90 (3344.N. The Company has not come out with any Rights or Public issue in the last five years. Ltd.600 2.564. trading in securities and providing management consultancy services.71. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Sun Investments Pvt. of Shares 7.49.77 10. Pentel Holdings Ltd.30.09 (2168. (11) Vrindavan Services Private Limited (VSPL) Vrindavan Services Private Limited was incorporated on April 8.68 7. Bavneesh Gulati.369. Shareholders Sun Investments Pvt. Heston Securities Ltd. Mr.52) FY 02 1715.” with effect from March 29.000 3. K.42) (12.000 % of shareholding 39.65) (8. The company is carrying on the business of investments.900 % of shareholding 21.30.83 11.) BV (Rs.564. Kole and Mr. trading in securities and providing management consultancy services.83 11. Board of directors of the company comprises Mr.60. The shares of the Company are listed on the Calcutta & Uttar Pradesh Stock Exchanges.000.79 102. 1997. Templar Investments Ltd.83 11.000 1.269. 2002.000 20.83 11.53 6. 1982 as a Private Limited Company and converted into a public limited company “Vrindavan Services Ltd.83 1.38) (9. Jayaraman. Ltd.99 (193.250 2.000 20. Nacho Investments Ltd.97) *(2. of shares 67.000 20.06 7.68) 54.R. Beaufield Holdings Ltd. Others Total Financial performance The financial performance of the company (Rs.30.90) 533.40 11. Sarmento Holdings Ltd. Sriram. Estrella Investments Ltd.30. No. Kole and Mr.Information Memorandum The Company was incorporated on January 31.59. Rajeev Pai.R.000 20. Ltd.91) FY 03 1715.25 .877. Board of directors of the company comprises Mr.000 20.) FY 04 1715.34 - .06 6.45 100. Heston Securities Ltd.000 2.

000 140.32 141. Mr. in lacs) is given below: Particulars Equity Share Capital Share Application Money Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.00 219.500 64.711.000 340. Jargo Investments Ltd. Ltd.39 0.000 340.000 710.25 6. Vavasa Investments Ltd.269. Pentel Holdings Ltd.207. trading in securities and providing management consultancy services.000 340.33 Sun Investments Private Limited was incorporated on June 2. 2003.94 0. The company is in the business of investing. Jindal Total Financial performance 2.” with effect from October 15.100 4.052.25 1.94 2681. Estrela Investment Co.80) (0.73 5.50 (121. Ltd.13 50.98 0. Its board of directors comprises Mrs. Ltd.51 (31.18 0.299.) BV (Rs.89 5.000 65. Deepak Bhat and Mr. Ltd.800 3. Naman Enterprises Pvt.Information Memorandum Templar Investments Ltd.300 2.300 5.71 6.300 11. of Shares 29. The company was reconverted into a private limited Company on February 18.000 625. Nacho Investments Ltd.86 FY 02 1644. Mr.989.800 2.18 0. Baltimore Trading Pvt. P. Kamshet Investments Pvt. Ltd.18 .513.402 6.) (12) Sun Investments Private Limited FY 04 3629. 1990. Ltd. Musuko Trading Pvt.119. Pentel Holdings Ltd. V.27 4.760.72 0.000 2. Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Jindal South West Holdings Limited Jargo Investments Ltd. Garg. Sangita Jindal (Managing Director).74) 11.66 5.24 2061.94 0.69 17.25 6. Ltd Mendeza Holding Ltd. D.269.40 249.01 58.19 4.400 1.96 1. Ashok Goel. Jindal Coated Steel Pvt.55 7. Wachovia Investments Pvt. Mr.001 401 36.00 100.00 0. Jindal Coated Steel Pvt.94 0. Sarmento Holdings Ltd.700 4.17) (0. Ltd.00 The financial performance of the company (Rs.94 0. Ltd. No.35 - . Aras Overseas Pvt.39 FY 03 3518.400 % of shareholding 40.119.900 3.09) 15. Ltd. J.000 340. 1981 as a private limited company and converted into a public limited company “Sun Investments Ltd. Estrela Investment Co. Jindal Holdings Ltd.40 355.269.

01 0. Abhuday Jindal Ms. Tripti Jindal Ms.05 0.04 0.55 FY 02 5827.500 13. P.46 12.27 11796.50 .76 4051.01 0.03 0. Savitri Devi Jindal Ms. Ratan K . Ltd.800 6.000 5.22 0. of Shares 1.30 10532. Jindal (HUF) Mr. Vrindavan Services Pvt.000 % of shareholding 50. P.700 23. Sangita Jindal Mr. Deepika Jindal Colorado Trading Co.00 100.492.68 FY 03 7119.033.75 4395. Sminu Jindal Vrindavan Services Pvt. Heston Securities Ltd.300 10. Naveen K.999 300.200 2. Jindal Mr.04) 26.500 17.01 0. Mr.500 10. Shareholding Pattern The shareholding pattern is as follows: Shareholder Gagan Trading Company Ltd.01 0.02 0. Mr. 1993 as a private limited company.000 51. No. Om Prakash Jindal Ms.) BV (Rs.08 0. Puran Chand Sharma Total Financial performance 2.89 733. Templar Investments Ltd.28 12649.001 898.) (13) Meredith Traders Private Limited FY 04 7149.100 10. Vavasa Investments Ltd.02 0. Urvi Jindal Ms.01 0. R.06 0.600 2.300 30. Ltd.R.03 27.28 28.04 37.000 8.61 (28.Information Memorandum Beaufield Holdings Ltd.28 2.000 100 71. Ltd.20 161.02 0.000 6. Tarini Jindal Ms. Deepak Bhat.000 46. Mr. The Company’s Board of Directors comprises of Mr.800 3. Kole and Mr.01 0.84 0.100 39.000 239. Ltd.01 0. Jindal Ms.000 14.84 2.58) (0.Jindal O.34 0.033.02 0.00 The financial performance of the company (Rs.07 Incorporated on August 11.400 13.13 1828.59 1. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation Reserve) Income PAT Dividend EPS (Rs. P .36 - .201. it is in the business of Investments and trading in securities.347. Everplus Securities Pvt.900 60. Ms.07 0. Tanvi Jindal Jindal Strips Ltd.

It carries activities of investments and dealing in shares and securities. of Shares 1 1 2 % of shareholding 50. Silky Investments Pvt. P.82 1801. 1997.19) (90.40) 115. Pradip Gaad.86 54. Couldip Basanta Lala and Mr. Damani Mr.31) 2001-02 2400. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.62) (3.100 each) Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs. Sunil Damani Total Financial Performance The financial performance of the company (Rs.00 0. Mr.39) 14.08) 19.99) 8. Kole.00 (4574.13 2002-03 2400. Prithvi Raj Jindal.00 (4562.07 21. 100 each) Reserve and surplus Excluding revaluation reserve Income PAT Dividend EPS Rs BV Rs 2003-04 2400.12 (76.002 0. Sangeeta S. R.60 0.37 - .58 2729130 (33524543) FY 03 0.60 (330. It carries out activities of holding and letting out of property.002 (725.89) (14) Reynold Traders Private Limited The Company was incorporated on September 1. Ltd. Total Financial performance 1 1 2.53 (9.59 75. Dev Joory.11) 3030. R. . 1993. Mr. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.002 (715. Board of directors comprises Mr. investments in capital markets and providing consultancy services. Jayaraman and Mr.00 100.00 100.00 (1889.00 The financial performance of the company (Rs.) FY 04 0.61) (16530489) (35772825) No.62) (481073) (36253673) FY 02 0.Information Memorandum Gauri Investments Pvt. Ltd.45) 16.00 50.400.01 12.) BV (Rs.00 (15) Templar Investments Limited Templar Investments Limited was incorporated on June 30.52 (90. Shareholding Pattern The shareholding pattern is as follows: Shareholder Mrs.002 (670. The company’s board of directors comprises Mr.

00 2.12.500 1.00 3.000 % of shareholding 71.00 .12. Prithvi Raj Jindal.000 1.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. Mr.800 200 7.38 - .00 28.02 7000 10831910 3784920 3591007 -513 1548 31.00 100. Pradip Gaad.12.12. It carries activities of investments and dealing in shares and securities.00 26.03 5000 11439760 572657 561127 -112 2289 31.01 7000 7240903 3016130 2672687 -382 1035 No.000 % of shareholding 70.12. 1997.400 100 5. Board of directors comprises Mr. Dev Joory.12. Couldip Basanta Lala and Mr. Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Prithvi Raj Jindal Pradip Gaad International Trustees Limited Total Financial Performance The financial performance of the company (in US Dollars) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS BV 31. Mr.01 5000 7296767 3015505 2670935 -534 1450 No.03 7000 11396160 575602 564250 -81 1629 31. of Ordinary Shares 5.02 5000 10878633 3784318 3631866 -726 2177 31.00 (16) Heston Securities Limited Heston Securities Limited was incorporated on June 30. of Ordinary Shares 3.00 100.

Board of directors comprises Mr. Mr. Pradip Gaad. It carries on activities of investments and dealing in shares and securities. Pradip Gaad.00 34.12.000 % of shareholding 99. 1997.03 1942 (3136527) 137015 31.39 - .12.02 1942 (3266074) 63406 31.90 0. Andry Tryphonos and Mr. of Ordinary Shares 999 1 1.Information Memorandum (17) Vavasa Investments Limited Vavasa Investments Limited was incorporated on June 18. Andry Tryphonos and Mr.00 .12. Prithvi Raj Jindal.00 (18) Jargo Investments Limited Jargo Investments Limited was incorporated on July 29. Board of directors comprises Mr.01 1942 (3063112) 39504 No.000 % of shareholding 65.12.10 100.00 100.03 1942 (424514) 116024 109264 -109 -31.12. Tasoula Georgiou.02 1942 (533740) 63350 (148877) --31. 1996.00 1. Mr. It carries on activities of investments and dealing in shares and securities. Prithvi Raj Jindal. 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. 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. Mr.12. of Ordinary Shares 650 340 10 1. Tasoula Georgiou. Mr.01 1942 (384863) 153638 45256 -45 -No.

01 1942 (435239) 172323 (10648) ---No. Couldip Basanta Lala and Mr.00 100.Information Memorandum PAT/(Loss) Dividend EPS BV 129548 -130 -- (202962) ---- (497541) ---- (19) Sarmento Holdings Limited Sarmento Holdings Limited was incorporated on June 18.50 100. Tasoula Georgiou.900 100 5.50 0.12. It carries activities of investments and dealing in shares and securities. It carries on activities of investments and dealing in shares and securities.00 Beaufield Holdings Limited was incorporated on June 30. Dev Joory. of Ordinary Shares 3.00 2. Mr.00 44. Mr. Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Prithvi Raj Jindal Pradip Gaad International Trustees Limited Total Financial Performance The financial performance of the company (in US Dollars) is given below: No.12. of Ordinary Shares 550 445 5 1. 1997.00 38. Andry Tryphonos and Mr. Board of directors comprises Mr.000 % of shareholding 60. Pradip Gaad. Prithvi Raj Jindal.000 1.12.000 % of shareholding 55. Pradip Gaad. 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. 1997. The company’s board of directors comprises Mr. Mr. Prithvi Raj Jindal. Mr.40 - .03 1942 (424786) 133418 126504 -126 -31.02 1942 (551289) 61227 (116050) ---31.00 .

1997. of Ordinary Shares 4. Board of directors comprises Mr.02 6000 10751260 3783357 3590681 -598 1793 31.500 1. It carries activities of investments and dealing in shares and securities. 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 31.400 100 6.00 1.12. Andry Tryphonos.12.00 33. Mr.02 5000 10791447 3786975 3622069 -724 2159 31. Prithvi Raj Jindal.00 100.12. Pradip Gaad. Dev Joory.03 6000 11309499 569872 558239 -93 1886 31. Board of directors comprises Mr.41 - . Mr.000 % of shareholding 75.12.00 100.00 23.12. Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Prithvi Raj Jindal Pradip Gaad Other – Nominee Total No.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. Pradip Gaad and Mr.00 . Prithvi Raj Jindal. Mr. Mr.00 2.12.01 6000 7160578 3014513 2569236 -428 1194 No.00 Mendeza Holdings Limited was incorporated on June 18. of Ordinary Shares 660 330 10 1.03 5000 11464486 685951 673039 -135 2294 31. Tasoula Georgiou. It carries on activities of investments and dealing in shares and securities.000 % of shareholding 66. 1997.

Pradip Gaad and Mr.00 100.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 31.12.12. 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 31.02 6000 10794110 3795749 3630810 -605 1800 31. Prithvi Raj Jindal.000 1. Pradip Gaad. Dev Joory. of Ordinary Shares 4.12. Mr. 1997. Mr. Mr. Board of directors comprises Mr. Prithvi Raj Jindal.00 2.00 31. Mr.12. Shareholding Pattern The shareholding pattern is as follows: . It carries activities of investments and dealing in shares and securities.02 1942 (670762) 63359 (126928) ---31.000 % of shareholding 67. Andry Tryphonos.880 120 6. 1997.00 (24) Nacho Investments Limited Nacho Investments Limited was incorporated on April 18.12.03 6000 11381086 600079 586976 -97 1898 31.01 6000 7163300 3002215 2547719 -425 1195 No. Tasoula Georgiou. The company’s board of directors comprises Mr.03 1942 (537985) 144577 132778 -133 -31. It carries on activities of investments and dealing in shares and securities.01 1942 (543834) 184478 (13371) ---- (23) Estrela Investment Company Limited Estrela Investment Company Limited was incorporated on June 30.42 - .12. Couldip Basanta Lala and Mr.

12. M. Subsequently.Information Memorandum Name of Shareholder Prithvi Raj Jindal Pradip Gaad Other . 1998. of Shares % of Shareholding 16256093 52. Subir Bisht.. 1979 as Orbit Strips Pvt. It is also engaged in generation of power.00 100. Maroo and Mr. on June 12. Vikrant Gujral. Mr. Mr.01 1942 (472926) 163626 (17783) ---- (B) (1) Promoter Group Companies Jindal Steel & Power Limited (JSPL) The company was incorporated on September 28. 1998. 1998. Mr. Ferro Chrome and Steel Products like slabs. which was converted into a public limited company ‘Orbit Strips Ltd.000 % of shareholding 55. Mr. the name of the company was changed to Jindal Steel & Power Ltd.Nominee Total Financial Performance No. Singh Pasrich.12. Raigarh and Raipur divisions of Jindal Strips Ltd.00 1. Anand Goel.03. Amir Z. The company has captive iron ore and coal mines at Tensa in Orissa and Mand area in Raigarh in Chattisgarh respectively.00 44.Indian Promoters i) Corporate Bodies + Resident Indian No. No. Gupta. blooms. Rajendra Singh.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. of Ordinary Shares 550 440 10 1. Sushil K. Mr. were transferred to and vested in the company from April 2. Shareholding Pattern The shareholding pattern as on 31. Mr.02 1942 (577071) 63395 (104145) ---31. L. The company has a unit in Raigarh. Mr. The board of directors of the company comprises Mr. Mr. parallel flanges and billets. Harsh Vardhan Lodha. 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. A 1 Category Promoter's Holding Promoters . Ratan Jindal. which is engaged in production of Sponge Iron.03 1942 (446781) 136498 130292 -130 -31. The company’s unit at Raipur is engaged in machining.43 - . Naveen Jindal.12.’ on May 27.79 . Ltd.2005 is as follows: Sr.

2005) on BSE was Rs.33 654.00 964.35 824.00 BSE High (Rs.00 833. 3215 crores.18 100.00 851.35 964.08 125% 52.65 1664578 132548 5.00 195.00 920.00 1000.80 1561.00 1262.22 277 2002-03 14.40 and the market capitalization was Rs. in crores) is given below: Particulars Equity Share capital Reserves and surplus (excluding revaluation reserves) Sales (including Excise duty) PAT Dividend (%) EPS (Rs.77 1.49 305.66 0.00 Financial performance The financial performance of the company (Rs.) 663. .) 623. Financial Institutions.90 452.95 834.Information Memorandum 2 B 3 a b ii) OCBs+Non Resident Indian .00 1103.16 4.33 18.00 692.109. 1044.00 The market price of shares of the company (as on March 31. 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. 05 NSE High (Rs.79 145.50 821.00 628.18 1.) Stock Market Data Month October 04 November 04 December 04 January 05 February.44 - .15 21.00 860.55 70% 38.90 1030. 05 March.) 796.00 Low (Rs.00 180.) 795.Foreign Promoters Person acting in concern Sub-Total Non-Promoters Holding Institutional Investors Mutual Funds and UTI Banks.22 107.41 0.86 60.00 2003-04 15.) BV (Rs.00 1259.05 915.00 1026.46 200% 100.00 1000.43 c 4 a b c d 3795642 5592768 1420514 4546914 510135 45044 6522607 30792268 12.63 558.00 2001-02 12.40 839.00 Low (Rs.61 14.00 1104.

Promoter’s holding 1 Promoters: Indian Promoters: I Colorado Trading Co. Mr.05 3.157.f. Mathur. 1980 as Jindal Ceramics Limited. Ser.454. 2002 (the appointed date). Suman Jyoti Khaitan.e. 2.999. Singhal. rights. Complaints Received: 50.19 4. Shareholding Pattern The shareholding pattern as on March 31. L.410. Ratan Jindal.315.22 2. Particulars of investor complaints during the period January to March 2005 are as follows: Opening balance: 1.K. Resolved/Replied: 50 and pending: 1 (2) Jindal Stainless Limited The company was promoted by Mr.92 . Rajinder Parkash.707. 2. Ltd. of shares held No. 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. C. The company was originally incorporated on September 29. depending on the type of complaint./Jindal Saw Ltd.Ltd 4. asset. Ratan Jindal. Dr. April 1. 2001 and further to Jindal Stainless Limited on January 27. Savitri Devi Jindal (Chairperson) Mr. Naveen Jindal.11 5. flat bars.835 v Mansarover Investments Ltd. 2005 is as follows: Sr. Under the scheme of Arrangement and Demerger among Jindal Strips Limited and Jindal Stainless Limited. blooms.555 xii Saw Pipes Ltd. The board of directors of the company comprises Smt.23 8. Ltd 2. 1. A.375 xiii OCBs 8. Ltd. the stainless steel undertaking from Jindal Strips Ltd with all the property. Category No. Mr.845 ii Gagan Trading Co.55 1.800 xi Jindal Equipment Leas & Con. The name of the company was changed to Jindal Int. 1.110 vii Stainless Investments Ltd.com Limited on January 25.290 % of shareholding 1.Information Memorandum The investor grievances received by the company are handled through secretarial office of the company and through the Registrar & Transfer Agent engaged by the company. 2003.780 iv Everplus Securities & Finance Ltd 1.012.295 iii Sun Investments Ltd 9.89 2.705 x Hexa Securities & Finance Co.710 xiv Others 5. R. The average time taken by the company for redressal of complaints is up to 21 days.797.38 8.078. Mr. N. 3.210 vi Nalwa Investments Ltd. Mr.080 ix Vrindavan Services P. Garg and Mr. powers and liabilities in respect to stainless steel undertaking stood transferred to and vested in Jindal Stainless Limited w.443. plates and sheets. vide Punjab & Haryana High Court order dated May 31.45 - .31 0. hot rolled and cold rolled coils.296.45 1.945 viii Manjula Finances Ltd 1. 2.946.615.46 1.50 2.G.735.92 4. 2003. Ltd 5.

i.070 0. Insurance Companies (Central/ State Govt. 3 a.80 1989.500 7. 4 a.10 1.115 975 40.) 76.932.656 9.41 51.) BV (Rs.) Stock Market Data Month October 04 NSE High (Rs.01 48.08 55.24 2605.) 94.83 391. b.223.13 2001-02 0.48 7.24 9. Institutions / Non.93 90.0001) - .022.19 4.) 77.998.Information Memorandum 2 B. Latin American Investment Bank Bahamas Ltd.30 BSE Low (Rs.55 2.189.423 1.437 16.977.272 22. c. Financial Institutions.) 93.93 0.15 60% 9.20 2003-04 19. Indiabulls Financial Services Ltd Ii Others (Companies) Indian Public NRIs/ NRI Companies/OCBs i.909. b. in crores) is given below: Particulars Equity Share capital Reserves and surplus (excluding revaluation reserves) Sales (including Excise duty) PAT Dividend (%) EPS (Rs.760 2.38 2.10 1.Government Institutions) i. ii Others Any other (pending allotment) Sub-total (4) Sub-total (B) Grand-total (A+B) 3.46 - .0007 (0.57 2002-03 13.499 109.498 520.997.608 2.810 52.883.00 High (Rs.19 100% 17.54 c. American Express Bank Ltd ii Life Insurance Corporation of India iii Others FIIs.80 100.17 20. Others (FIIs) 5.30 58.727. -Foreign Promoters Persons acting in concert Sub-total (A) Non-Promoters Holding Institutional Investors Mutual Funds and UTI Banks.220.524 1.00 d.20 269.02 0. Financial performance The financial performance of the company (Rs. ii FID Fund Mauritius Ltd.345 0.58 164.00 36.50 Low (Rs.98 530.909.204.891 56. Sub-total (3) Others: Private Corporate Bodies i.269 4.697.47 15.844 2.

86 2.65 5. Wachovia Investment P.010.318.00 78.98.00 11. Kamshet Investment P. 1079.000 3.318.000 1.000 10.50 91.170.75 91.R. Sunil Mittal.000 1. of Shares 10.000 10.81 5. 1995 and became Public Company with effect from March 31.015. Jindal & Sons H. 1997.15 87. Baltimore Trading P. Jindal Holdings Ltd.25 and the market capitalization was Rs. Ltd.11 5.F P. Vrindavan Services Pvt. The Company is engaged in the business of finance.000 10. depending on the type of complaint.000 2.000 600. is NBFC (not accepting public deposit).U.81 5.20 88.P.F Master Parth Jindal R. The average time taken by the company for redressal of complaints varies from 7 to 25 days. D. Brahmputra Cap & Fin Ltd. Aras Overseas P.318.95 106.90 111. Ltd. P. Mr.660.000 2.81 5. Resolved/Replied: 478 and Pending: 12.U.17 11. Jindal & Sons H.020 % of shareholding 0.70 91. Total Financial performance No. Ltd.86 crores.60 6.000 500. Jindal H. Board of Directors includes Mr.70 80.Information Memorandum November 04 December 04 January 05 February 05 March 05 89.04 0.000 10 10 2.55 110.000 590.04 0.U. Ltd. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Naveen Jindal H.675.95 106.04 0.00 87.10 81.000 10.000 1. Ltd. Particulars of investor complaints during the period April 2004 to March 2005 are as follows: Complaints Received: 490.U.40 96.000 22.04 0.000 1.00 .400. Musuko Trading P.75 90. Investment and finance related consultancy services. Ltd.00 The market price of shares of the company (as on March 31.81 5.000 1.000 1.520.00 80. Sharma and Mr. 2005) on BSE was Rs.318.05 80.33 2.47 - .81 100.04 0.K.000 1. The company has engaged the services of a Registrar & Transfer Agent to handle the grievances of the investors.32 2.90 78.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. Ashok Goel. Manjula Finances Ltd.F O. (3) Manjula Finances Limited The Company was incorporated as Private Limited on February 1.40 96.30 8. Gagan Trading Co Ltd.318.000 1.570.16 13.21 7.00 0.

Parmod Garg.000 10.020 Equity Shares of Rs.200 NIL 40.05 0.) FY03-04 226. Musuko Trading P.53 6.858.75.40 2.69 6. Ltd.2 (12.000 486.00 0.827.000 10.590.26. Ltd. 1997.25 2.220. The Board of Directors comprising of Mr.4 8.970.533.500. Gagan Trading Co Ltd Jindal Holding Ltd.55) NIL (0.000 1.25 2.R.620.000 486.000 590. Jindal Naveen Jindal H. of Shares 10. D.000. Nalwa Investments Ltd.25 2. Kamshet Investment P.000 1. The Company is NBFC (not accepting public deposit) and engaged in the business of finance.000 1.000 486. Investment and finance related consultancy services.00 .802.750.05 0. P.05 0. Ltd.000 2.509. Mr.355.750.14 2.020. Total No.20 7.Information Memorandum The financial performance of the company is given below Particulars Share capital 2. 1995 and became Public Limited with effect from March 31.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.48 - .000 486.300.445.6 (17. Ltd.020 % of shareholding 0.750.000 1. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder P.25 100 . Sharma.05 0.200 NIL 26.000 10 10 4.660. 10/-each Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs.71 (4) Renuka Financial Services Limited The Company was incorporated as Private Limited on February 1.19) NIL (0.55) 2.000 21.500.000 10.78) 2. Aras Overseas P.P. Ltd.02 7.) BV (Rs.000 1. Wachovia Investment P.34 NIL 0. Baltimore Trading P.670.00 18.000 2.000 1.871. Jindal O. Ltd.U.500. Vrindavan Services Pvt. Vivek Goel and Mr.000 10.05 0.56 FY02-03 226.000 486.17 FY01-02 226.200 NIL 6.58 12.95 2.95 6.74 8.726.25 2.770.73 11.

025.10) 2.000 4. The Company is NBFC (not accepting public deposit) and engaged in the business of finance.67 NIL 0.F Savitri Devi Jindal Sangeeta Jindal Yogendra Kumar Garg Nirmal Singhal Stainless Investments Ltd Mansarover Investments Ltd Goswami Credits & Investment Ltd Renuka Financial Services Ltd Manjula Finances Ltd Jindal Holdings Ltd Nalwa Investments Ltd Bhramputra Cap & Finance Ltd Abhinandan Investments Ltd Vrindavan Services Pvt.13 7.200 FY01-02 215.38 14. The Board of Directors comprising of Mr.000 10 10 3. Investment and finance related consultancy services.000 21.000 3.000 NIL 98977652 605.588.000 NIL 161907596 102.Information Memorandum Financial performance The financial performance of the company is given below Particulars Share capital (Issued.94 8.750.36 (5) Ever Plus Securities & Finance Limited The Company was incorporated on November 24.55) NIL (1.00 14.4 NIL NIL 18754323 (23.000 10.200 FY02-03 215.) BV (Rs.000 10.754.020 % of shareholding 0.12 NIL 5.05 0.05 0.05 0.000 10. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Deepika Jindal P.000. Ltd.40 100.900. of Shares 10.05 0.02 2.590.000.17 10.000 1.000 710.05 0.900. Vivek Goel and Mr.) FY03-04 215.000.020 Equity Shares of Rs.00 0. Mr.56 7. Jindal H. 100/-each Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs.170.200 10.38 5.000 3.000.000 1.R.000 Preference Shares of Rs.49 - .000 1.34 3.00.625. Deepak Goel. 1997. subscribed & Paid-up) 21.90 7.27 2.660.000 10.950.F Naveen Jindal H.000 500.924.670. 10/-each 1. Sanjay Agarwal. 1994 as Private Limited and later on became public Company with effect from March 31.U. Total Financial performance No.015.900.32 14.000 1.U.00 .27 21.500.

Promoters Holding Directors : Persons acting in concert Sub .01) (1. 193342 108810 16967 319119 319219 60. B. 1.31% 99. The Board of Directors comprising of Mr.) FY03-04 210.250.577.200 NIL 12. 4.Govt.96% 100.50 - . Institutions/Non.270 (80. d.04% - c.56) FY01-02 210. 3. b.6 FY02-03 210. b. Swami and Mr.026 (42. Financial performance The financial performance of the company is given below . Financial Institutions. Insurance Companies (Central/State Govt. Mr.377.Total GRAND TOTAL No.S. R. 1984. Jain.200 NIL 36. The company is engaged in the Business of Cast Iron Foundry and changed the activities in heavy & Light Engg.I. R. on October 25. 1984 on The Calcutta Stock Exchange Association Limited and no trading has taken placed during last 6 months.200 NIL 148.82) NIL (0. Institution. of Shares 100 100 % of shareholding 0.04% 0.65 NIL 5.Total Others Private Corporate Bodies Indian Public NRIs/QCBs Any other (please specify) Sub .629. M.439 108. since December 21.250. 2.643. Works (P) Ltd and later on the name was changed to Nalwa Engg. P.00) (1.56) (6) Nalwa Engineering Company Limited The Company was incorporated on December 3. Foreign Institutional Investors Sub .) BV (Rs.16 3.606.08% 5.Total NON PROMOTER’S HOLDING Institutional Investors Mutual Funds and UTI Banks. R.187.57% 34. Co.250. 1957 as Sree Iron Foundry & Engg. Gupta.00% Shares of the Company got listed in September.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. jobs under S.323. c. Ltd. Shareholding Pattern The shareholding pattern is as follows: Category A.966) NIL (2. 1983. a. a. L.

82) Nil (17. Ltd. Sunil Mittal.000 496. Ltd.000 590.51 - .25 4. Aras Overseas P.62 0.85 11.R.05 53.33 8. Kamseth Investment P.61) Nil (10.000 1.) BV (Rs. Ltd. Musuko Trading P.20 15. Ltd.500.92 4. 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.000 10 10 1. Abhinandan Investments Ltd Nalwa Investments Ltd Bhramputra Cap.55 12.56 (32. 2002.000 496.03 0.03 0.S.000 810.67 6.05 0.22) 11.427. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Naveen Jindal H. Deepak Goel.000 496. 1995 and became Public Limited with effect from March 31. Mr.000 1.855.000 500.15 2.93 3.000 10.38 37.170.00 .000 2.220 % of shareholding 0. Total No.05 0.00 0.U.000 2. of Shares 10.05 0.65 2. Vivek Goel and Mr.600. Ltd.200 50. Ltd. Jindal Master Parth Jindal Master Abhuday Jindal Manju Bansal Renu .65 2.000 600.000 496.000 5. the Company got registered with Reserve Bank of India as Non Banking Financial Company (not accepting public deposit).420.35 2.27 (7) Goswamis Credits & Investments Limited The Company was incorporated as Private Limited on January 13. 1997.92 4.47 (54.000 18.05 33.00 8.670.000 5.65 2.000 1.92 4.000 2.27 FY-02-03 31.000 10.Information Memorandum Particulars Share capital Reserves and surplus (excluding revaluation reserves) Sales (Including Other Income) PAT Dividend (%) EPS (Rs.27 3.17) 11.27 (Rs.000 10.F Savitri Devi Jindal Om Parkash Jindal P.05 0. Baltimore Trading P.25 7.05 28.92 13.65 2. Ltd. The Board of Directors comprises Mr.722.65 100.83 Nil 11.000 496. In lacs) FY-01-02 31. Wachovia Investment P. On December 5. & Finance Ltd M\s Silver smith Gagan Trading Co.) FY-03-04 31.

w.000 --45. a. In the year 1996. PROMOTERS HOLDING 1. New Delhi w.200 NIL 3. Foreign Institutional Investors Sub . It was incorporated for carrying on the business of continuous cast.11. Mr. 21 lakhs.79) 1.600 -96. Institution.02 --- --- c.85) 2.Total NON PROMOTER’S HOLDING Institutional Investors Mutual Funds and UTI Banks. c.08 (excluding Jindal Seamless Tubes Limited The Company was incorporated on April 12.e.397. As the paid-up capital of the Company is only Rs. Sandip Sharma and Mr.377. d. Sub . June 5. Institutions/NonGovt. D. b.30 FY01-02 187.Foreign Promoters 2.f.362.650 2.57) NIL (0.Indian Promoters .350 6. 1992. a. P.200 NIL 11.200 NIL 2. of shares % of shareholding 14.10.52 - .98 100. 4.222. The name of the Company was later changed to Jindal Seamless Tubes Ltd.) (8) FY03-04 187.7 (16. Promoters: . Goel.103.750 --98.005.79 --46.3 (14. Financial Institutions. Sminu Jindal. Insurance Companies (Central/State Govt.871. 1956 and since then there is no manufacturing activity in the Company.789.962.38) 0. the manufacturing activities were disposed off under the provisions of Section 293(1)(a) of the Companies Act. there has not been any trading in the shares for the last several years.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. b.900 3.95 -46. --94. R.f. The Board of Directors comprises Mr.e.19 1. 3. ..222.73) NIL (0.Total GRAND TOTAL No.750 1.430 (7. 1979 as Nalwa Steels Ltd.00 The Company’s Equity Shares are listed on The Delhi Stock Exchange Association Ltd. K.) BV (Rs. June 28. Jindal.626.05) NIL (0. 1984.904. Hot and Cold Rolling Mills.134.Total Others Private Corporate Bodies Indian Public NRIs / QCBs Any other (please specify) Sub . Shareholding Pattern The shareholding pattern is as follows: CATEGORY A.07 53.92 FY02-03 187.222. Persons acting in concert B. Ms.

29) FY02-03 21.22 (384.79 (23.Jindal Jindal Strips Ltd Total Financial performance The financial performance of the company is given below Particulars Share capital (Equity Shares of Rs.51 4.125. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Savitri Jindal O.) FY03-04 2.96) No.229.93) (118.9) FY02-03 2. S.12 0.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.400 24.405.400 5. O.100 2. 1971 and became Public limited with effect from July 30.400 130.) BV (Rs.98 9. Jindal (till March 31.000 Nil 1.130 159.85 (274.85 0. Savitri Devi Jindal and Mr. The Company is engaged in the property business.885.04 13.360. 1986. The Board of directors of the company comprises of Mr.400 2.) BV (Rs.400 2. Ltd Nalwa Investments Ltd Swastik Udyog Ltd.971.98 21. P.36 (197. Ltd Gagan Trading Co.80) 13.53 - . of Shares 30 60 2. In lacs) FY01-02 21.08 (204.98 100.85 (258.75 9.250 1. S.64) 162.51) (Rs.005.15 NIL 16.98 9.14) (125.230 2. 100/each) Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs.41) Nil (175. Smt.85 (297.922.25 9.78) (136.18 NIL 10.78) (209.00 .57 9.000 Nil 1.60) Nil (7.760 (1.405.050 % of shareholding 0.000 Nil 1. Saxena.R.) (9) Rohit Tower Building Limited FY03-04 21.24) 5. Jindal Colorado Trading Co.37) The Company was incorporated as Private Limited on June 16.40) NIL (46.370 10 3. 2005).405.52) FY01-02 2. P./ Jindal Saw Ltd Naveen Jindal Abhinandan Investments Ltd Ratan Jindal Stainless Investments Ltd P.400 2.98 9.56) Nil (10.04 (15.

26) 74. The Company is NBFC and holds investment in other Companies.K. Sharma and Mr.17 1.83 Nil 1. 1994.81) 295. Mr. 2002. The Board of directors of the company comprises Mr.800 500.86) (11) Brahmputra Capital And Financial Services Limited The Company was incorporated on June 14.66 163.54 - .17 1.200. The company is Non-Banking Financial Company (not accepted Public deposits) registered under Section 45-IA of the Reserve Bank of India Act. Arvind Kiran Aggarwal.869. Ranjit Malik and Mr.00 (2.22 1.550. Shareholding Pattern The Company is 100% subsidiary of Jindal Saw Ltd.000 500. Aggarwal.00 .00 1.000 100 42.76) FY02-03 2. Mr.) BV (Rs. It was converted into Public Limited Company on December 3.000 520.64 (11.000 % of shareholding 0.00 (3. Distt.15 370.000 500.21) (Rs.58 Nil 0.550.00023 100. Area.590. The Board of Directors of the Company comprises Mr. UPSIDC Indl.P. Mathura (U. D. Parmod Garg.16 63. The Company was incorporated as Private Limited and became Public Limited with effect from May 4. P. Nandgaon Road.17 1.98) 509.45 Nil 0. of Shares 100 20.000 500. having its registered office at A-1.023. Ltd.Information Memorandum (10) Hexa Securities & Finance Company Limited This Company was incorporated on November 23.Bansal Nominee of Jindal Strips Ltd Total No.45 (9. R. Kosi Kalan.550.000 19.25 (11.08 0.859.) FY03-04 2. In lacs) FY01-02 2.488. 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. K. Pvt.00 (2. 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.) – 281 403. 1994 as Hexa Securities & Finance Co. 1995. 1934.17 45. Rajesh Aggarwal.00023 49.

990 10.43) Nil (0.000 Nil 15.Information Memorandum Financial performance The financial performance of the company is given below Particulars Share capital Reserves and reserves) Sales PAT Dividend (%) EPS (Rs.000 % of shareholding 80. Saraf and Mr. Ltd.869 (279.79) (102) FY01-02 1.201. 1989 under the Companies Act. K.399) Nil (0.) FY03-04 100.000 Nil 188.150.900.90 100. Ltd. On January 13.0066) 9.) BV (Rs.000 Equity Shares of Rs.500) 7%Redeemable Cumulative Preference Shares of Rs.) BV (Rs. .each Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs. 2004 the name of the said company was changed to Gagan Sponge Iron Private Ltd.103.000 83.10 19. 100/.0037) 9.468 Gagan Sponge Iron Private Limited The Company was incorporated on February 24.79 Nil 2059.70 21.164 (1.) (12) surplus (excluding revaluation FY03-04 425.000 Nil Nil Nil Nil Nil Nil 7.000 19.464 FY02-03 425.R Jindal Shallu Jindal Total Financial performance The financial performance of the company is given below Particulars Share capital 10.900.000.316. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Naveen Jindal P.717.000 Nil 36. 1956 under the name of Navin Sponge Iron Pvt.296 (30. R.10/-each 1.4 FY01-02 425. of Shares 8.946. The Company is engaged in the business of finance.00 No.350) Nil (0.00071) 9.09) Nil (109.36 1918 FY02-03 100.380 (156.00 0.000 Nil 118. Investment and finance related consultancy services. The Board of directors of the company comprises Mr.00 (13) Opellina Finance & Investment Pvt. Raj Kumar Nahata.00.450.259 20.667.000 10 1.115.097.000 145.900.721.000 (831.55 - .

R. V. Ltd.217. Ltd. Investment and finance related consultancy services.) (14) Baltimore Trading Private Limited 100. The Board of directors of the company comprises Mr.” with effect from March 23.098) Nil (26.646 (1.000 119.41.600 1.000 192.600 119. 1994 as a private limited company and converted into a public limited company “Baltimore Trading 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 10.050 1. Naman Enterprises Pvt.40 16.100 1.000 Nil 219.202 % of shareholding 36.598 21.92 28. Gagan Trading Co. Jindal Equipment & Leasing Consultancy Services Ltd.000 19. Welworth Equifin Pvt. Wavelength Capital & Finance Pvt.000 Nil Nil Nil (264. of Shares 8.000 74.000 10.56 - . 100/. Animation Finvest Pvt.13 0.4) (69.00 The Company was incorporated on December 9. Starlight Equifin Pvt. Ltd.475 20.14 0.Information Memorandum The Company was incorporated on March 20. It is mainly in the business of investments and trading in securities.each Reserves and surplus (excluding revaluation reserves) Sales PAT Dividend (%) EPS (Rs.693) Nil (114) (178) 1. The Company’s board of directors comprises Mr. Ltd.98 0. Ltd.10/-each 19.000 2. Anand Goel.670. of Shares 260.00 100. TOTAL No. 1998. Ltd.16 0. Deepak Bhat.2) FY03-04 FY02-03 FY01-02 No.144.348 Nil 2.000 % of shareholding 80.651.065 1892.00 20. 1995 and is engaged in the business of finance.13 0.00 100.700 (7. K.5 100.110. 2002. Jindal Holdings Ltd.15 0. Ltd.26.98 16. The Company was reconverted into a private limited company on July 26. Saraf and Mr. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Vrindavan Services Pvt. Gati Securities Pvt.452.000 200.) BV (Rs. Ltd. Surendranath and Mr.100) 0% Cumulative Redeemable Preference Shares of Rs.000 Equity Shares of Rs.00.00 .000 950 900 2 704.

Mr. Jindal Holdings Ltd.49 (15) Kamshet Investments Private Limited It was incorporated on November 16. 1998.88) (0. The company is in the business of investments and trading in securities. Vijay Maniar Total No. Kole and Mr.20 (482. 1998.33) (0.02) 31.49 148.) BV (Rs.25) (0.20 (482.P.) FY 04 704. Apurva Jhalani.603 100 Financial Information The financial performance of the company (Rs. 100 each) Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS Rs BV Rs 2003-04 806.04) 31.39 2 0.79) (16) Aras Overseas Private Limited The company was incorporated on September 7.100 each) Reserve and surplus Excluding revaluation reserve Income PAT Dividend EPS (Rs. The company was reconverted into a private limited company on August 9.60 (933.31) (0. P.60 (934.17) (0.87) 2001-02 806.43 FY 03 704.57 - . 1994 as a private limited company and converted into a public limited company “Aras Overseas Ltd.76) (15.99) (385. V. The company was reconverted into a private limited company on July 26.005 (0. Atul Sud Mr. The Board of directors comprises Mr. . R. Ltd. in lacs) is given below : Particulars Equity Share Capital (Shares of Rs.” with effect from March 23. The Board of directors comprises Mr.29) (0.58) 0.47 FY 02 704. 1994 as a private limited company and converted into a public limited company “Kamshet Investments Ltd.Information Memorandum Financial Information The financial performance of the company (Rs. Rajeev Pai.20 (482.60 (934.300 18.000 27.00 1 0.000 32. 2002. Gagan Trading Co. Mr.83) 2002-03 806. Shareholding Pattern The shareholding pattern is as follows: Shareholder Vrindavan Services Pvt. Surendranath and Mr.” with effect from March 23. V. This company is in the business of investing and trading in securities. Ltd.60) (0. Dileep Bhatt.300 21. Mr.04) (15.42) 20. of shares % of shareholding 260. Jindal Equipment & Leasing Consultancy Services Ltd. in lacs) is given below: Particulars Equity Share Capital (shares of Rs.24) (47.03) 31.30) (0.00 806.04) (15.89 173. 2002.23 225.00 (0. Garg.

17 0. Its board of directors comprises Mr.320 1. Jindal Holdings Ltd.27) (0. Kole and Mr. of shares 260.23 0.28 0. 2002. Shareholding Pattern The shareholding pattern is as follows: Shareholder Gagan Trading Co.00 (17) Wachovia Investments Private Limited This company was incorporated on November 16.51 15.19 0.00 (350. Jindal Equipment Leasing Consultancy Services Ltd. The company was reconverted into a private limited company on August 9. Total Financial Performance The financial performance of the company (Rs.48 FY 02 633.000 175. Ltd.380 1. Gagan Trading Co.29 0. 1998. R.22 0. Starlight Equifin Pvt.200 1.840 1. Ltd.” with effect from March 23. No.98 13.10) 44. Ltd.440 1. Starlight Equifin Pvt. Ltd. P.21 0.00 (351.000 164.500 82.18 26.505 96.07) 44.005 (0.21 0. of shares 175.63) (0.760 1. Ltd.00 (351. Welworth Equifin Pvt.00 100.03 0. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs. Ltd.020 621. It is mainly in the business of investments and trading in securities. Ltd.600 1. Wavelength Capital & Finance Pvt.48 0.41) 0.002 77. Ltd.04) 44. Animation Finvest Pvt.16 100. Jindal Equipment Leasing & Consultancy Services Ltd. Ltd. Naman Enterprises Pvt.002 % of shareholding 41. Deepak Bhat. Mr.000 102.25 0. 100 each) Reserve and surplus Excluding revaluation reserve Income PAT Dividend EPS (Rs.505 1. Animation Finvest Pvt.41 16.080 1.58 No.Information Memorandum Shareholding Pattern The shareholding pattern is as follows: Shareholder Vrindavan Services Pvt. 1994 as a private limited company and converted into a public limited company “Wachovia Investments Ltd. Gati Securities Pvt.07 27.360 2 633. Ltd. Welworth Equifin Pvt. Naman Enterprises Pvt. Ltd.) FY 04 633.65 16. Rajeev Pai.) BV (Rs. Vrindavan Services Pvt. Ltd. Ltd.012 % of shareholding 28.45) (0.44 FY 03 633. Ltd. Ltd.500 1.00 . Jindal Holdings Ltd.46 12. Wavelength Capital & Finance Pvt. Ltd.68) (0.000 107.58 - .79) (0. Gati Securities Pvt.

50 18. 2002.84 (4. Company’s board comprises Mr.01 (759.99) 2002-03 621.64 FY 02 2.000 5. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.50 18. Rajiv Khaitan Mrs.70 0. Rashmi Khaitan Financial performance The financial performance of the company (Rs.46) 0. P.64 FY 03 2.” with effect from March 23. The company is mainly in the business of investments and trading in securities. Kole and Mr.04 100.70 0. Chari and Mr. Ltd.52) (9. This company is in the business of real estate development. The company was reconverted into a private limited company on August 26. Sandip Sharma Mr.51) (2.79) 26. of Shares 5. 1994 as a private limited company and converted into a public limited company “Musuko Trading Ltd. M.100 each) Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.07) (0.50 18.) BV (Rs.) BV (Rs.01 (0.R. Sriram.59 - .Information Memorandum Financial Performance The financial performance of the company (Rs.01 (763.12) (0.020 % of shareholding 18.77) (22. The board of directors comprises Mr. Ltd.000 1. Shareholding Pattern The shareholding pattern is as follows: Shareholder Reynold Traders Pvt.) 2003-04 621. Ltd.51) (126.01 (758. Meredith Traders Pvt.) FY 04 2.51) (0.50 18.63) (0.000 5. Devender Singhal Mr.00 (19) Musuko Trading Private Limited (MTPL) MTPL was incorporated on November 14.02) (0.50 3. Krishne Gowda.70 (2. Ltd.04 0.71) (20.22) 2001-02 621.40) (22.77) (0. Vrindavan Services Pvt.70 (2. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs. Ltd.32) 0. P.000 10 10 27.000 1. 1998. Mr. Gagan Trading Co. 1994 as a private limited company. S. .S.90 No.14) (18) Argil Properties Private Limited (APPL) APPL was incorporated on July 6.000 5. P. Dileep Bhatt.26) 9. Mr.08) (22.70 3. K.000 5.N. Rishikesh Finlease & Investments Pvt.

Jindal Holdings Ltd. Its board of directors comprises Mr.45 (505. Jindal Equipment & Leasing Consultancy Services Ltd.95 1. Ltd. Ltd.S.01) 34. of shares 4.39) (0.09) FY 03 1. Gagan Trading Co.225 2.00 (0. Ltd. Gati Securities Pvt. Shyamlal Agarwal Total Financial Performance The financial performance of the company (Rs. Welworth Equifin Pvt.) BV (Rs.003 No.) 2003-04 769.08 (0.28 0. Ltd.03 7.000 % of shareholding 49.79 29.440 2 769. It has made strategic investment in the shares of South West Port Limited.45 (505. Sriram and Mr.070 1.N.00 100.21 0. Total Financial Performance The financial performance of the company (Rs. Mr.452 % of shareholding 33.11) (0.19 0.990 10 10 10.00) (0.000 150.Information Memorandum Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Vrindavan Services Pvt.00 . I Qureshi. Animation Finvest Pvt.35 2002-03 769.100 each) Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.27 0. 1985.03 34. Ltd.52 16.90 0.000 225.90 49.06) 9.45 (513. of Shares 260.620 1. Ltd. Starlight Equifin Pvt.00 FY 02 0. Ltd.33 No. Ltd. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) FY 04 1. Sanjay Agarwal.05) 33.00 (20) Nalwa Chrome Private Limited This Company was incorporated on September 2.710 1. Naman Enterprises Pvt.16) 0.10 100.36 2001-02 769. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs. Ltd.10 0. Vrindavan Services Pvt.160 2.60 - .22 0. K. Shareholding Pattern The shareholding pattern is as follows: Shareholder Sun Investments Pvt.27 0. Ltd.225 125.990 4. Sushil Buwalka Mr.24 19. Wavelength Capital & Finance Pvt. Mr.

60 (0. O. 10 each) Reserve & surplus Excluding revaluation reserve Misc.02 0.10 (0.Information Memorandum Misc. Expenditure not written off/Preoperative Expenses Income PAT Dividend EPS (Rs.R. D. R.970 24. Urmila Bhuwalka Mrs. of shares 10 10 10 10 10 10 10 24.13 FY 03 5. Shyamlal Agarwal Mrs. The company’s board of directors comprises Mr.02 0.19 FY 02 0. Bhalerao. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.43) NA NA NA NA 9.13) (21) Maharashtra Sponge Iron Limited Maharashtra Sponge Iron Limited was incorporated on September 2. R.02 0. V. Sangita Jindal Mrs.92 100. Mr. 1995. Shareholding Pattern The shareholding pattern is as follows: Shareholder Mr. Mr. Anilkumar Agarwal.000 % of shareholding 0. Jindal Mr. Shareholding Pattern The shareholding pattern is as follows: .00 (0. The board of directors of the company comprises Mr.) BV (Rs.40) NA NA NA NA 9. Mr. 1985 as a public limited company.960 50. Sushil Bhuwalka Mr. Ltd Total Financial Performance The financial performance of the company (Rs.00 The company was incorporated on February 28.02 49.94 49.61 - .24) 7. Ltd Gagan Trading Co. Surendranath and Mr. P.) BV (Rs.20) (0. The company has not yet commenced commercial activity. Dileep Bhatt.) (22) Kavita Securities Private Limited FY 04 5. Sajjan Jindal Mr.02 0. Jindal.P.53) No. R. Jayaraman.95) 7.02 0. Asha Agarwal Sun Investments Pvt.00 (0.38) NA NA NA NA (530.22) (719.09) (0. This company is mainly in the business of investments and trading in securities. Kole and Mr.02 0.007 (0. P.) (0. expenditure not written off /Preoperative expenses Income PAT Dividend EPS (Rs.

100 each) Reserve and surplus Excluding revaluation reserve Income PAT Dividend EPS (Rs.14) (7.00 The financial performance of the company (Rs.00 100. Ltd. Ltd.12) (405937.22) (0.00 (108.07) (0. Total Financial Performance The financial performance of the company (Rs. Ltd.00 (24) Sapphire Technologies Limited .12) (405. Silky Investments Pvt. Ltd.50) (5468146) 2002-03 0.93) (0. Kole and Mr. It is mainly in the business of Investments and Trading in securities. Starlight Equifin Pvt. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.) 2003-04 2.) BV (Rs. 1995. Welworth Equifin Pvt. The board of directors comprises Mr.98 15. P.14) (7157. 100 each) Reserve and surplus Excluding revaluation reserve Income PAT Dividend EPS (Rs.00 50.36) (0.R.98 20.002 (109. of shares 1 1 2 % of shareholding 50.00 (108.19) (9770. Mr.00) (5461814) 2001-02 0. Animation Finvest Pvt.002 (109.98 17.) BV (Rs.64) (5335) (23) Laptev Finance Private Limited Laptev Finance Private Limited was incorporated on February 6.98 22.76) (8. Ltd.002 (109.16) (7.Information Memorandum Shareholder Naman Enterprises Pvt.84) (5342) 2001-02 2. Total Financial Performance No. Ltd.50) (5452869) No. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs. Apurva Jhalani.00 (109. Surendranath. Shareholding Pattern The shareholding pattern is as follows: Shareholder Gauri Investments Pvt.10 21. V. of shares 2 440 320 360 420 460 2002 % of shareholding 0.62 - .98 100. Wavelength Capital & Finance Pvt.Ltd.01) (5348) 2002-03 2.) 2003-04 0. Gati Securities Pvt. Ltd.03) (8.

04 0. V. Manish Shah P. Kantilal Narandas Patel Mr.Information Memorandum This Company was incorporated on October 5.02 0.000 1.99 21.002 % of shareholding 22. Ltd.81 (12.com” through which it conducts auctions for facilitating sale of steel products. Shareholding Pattern The shareholding pattern is as follows: Shareholder Reynold Traders Pvt.31 (8.04 0.93 4.83 1.15) (0. Jayant Acharya Mr.61) 14. N.99 20.04 0.63 - . Its board of directors comprises Mr.04 100.25.) BV (Rs. Patel. Dr.050 800 1 1 5. 1994. Ltd. Starlight Equifin Pvt. to act as consultants and advisors on information system etc. The Company has developed a portal “Steelemart.N.95) No. Purohit Total No.86 0. Shireesh Wagh Mr.) (25) FY 04 25. Sriram K. Raman Madhok Mr.86 49.44 FY 03 25. It is mainly in the business of investments and trading in securities. Its board of directors comprises Mr. Ltd. Mr.S.S.47) (2.07 (12.00 Rishikesh Finlease & Investments Private Limited Rishikesh Finlease & Investments Private Limited was incorporated on August 12. Ltd.70) (3. N. P.00 .60) 121. Nirmal Kumar Jain Total Financial Performance The financial performance of the company (Rs.99 17. Raman Madhok.150 900 1. Gagan Trading Company Ltd.30) FY 02 25. Jain. of shares 1. Mr. Nowal and Mr. 2000 as a public limited company to carry on the business of software development. Kole and Mr.25. Gati Securities Pvt. Vrindavan Services Pvt.07 (21.90) (5.07 (8.99 15. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.99 0.29 4. K. K. of shares 1.100 1.08 0. Shareholding Pattern The shareholding pattern is as follows: Shareholder Welworth Equifin Pvt.000 200 100 100 100 100 100 2.02 100.04 0. K. Ltd. Wavelength Capital & Finance Pvt.50. Ltd.700 % of shareholding 49. Animation Finvest Pvt.70) 20. Ltd.R.

00 (873.) BV (Rs.95) FY 03 5.74) 1.96) 2700.18) (26) Naman Enterprises Private Limited Incorporated on April 19.79) (0.91 (1736.50 (4. the company is in the business of property development.37) (0.000 50.63) No.K. Apurva Jhalani.35) (1737. (28) Jindal Coated Steel Private Limited .00 (862.00 (51.77) 0. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.57) (934. Mr. 1994 as a private limited company.00 Jindal Technologies & Management Services Private Limited (JTMSPL) JTMSPL was incorporated on December 3.95) FY 02 5.000 % of shareholding 50.64 - .02) FY 03 5. Mr. Ltd.Information Memorandum Financial Performance The financial performance of the company (Rs. Rishikesh Finlease & Investments Pvt.22) (847. the number of shares being 5. V. Its shares are held by Vrindavan Services Private Limited and Sun Investment Private Limited equally. Patel.00 (51.00 (873.56) (11. Shareholding Pattern The shareholding pattern is as follows: Shareholder Reynold Traders Pvt. K. 2003 to carry on the business of Management & Engineering Consultancy Services.00 100.00 50.45) FY 02 5.18 (0. Mr.000 each.100 each) Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.19) (0.03) (0. Nowal.01) 1. Total Financial performance The financial performance of the company (Rs.27 0.00 (47. Bavneesh Gulati.) (27) FY 04 5. Board of directors comprises Dr.38) (13. of shares 25. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.) BV (Rs. Rajeev Pai and Mr.17) (1724. Deepak Bhat.00 (11.37) (87.N.000 25.) FY 04 5. V Surendranath and Mr. The company’s board of directors comprises Mr. Ltd. 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.32) (934.95 1.

” on December 12.63 0. 1996 as a private limited company. The company had commenced a project for setting up an organic coated steel plant. of shares 11.000. of shares 4.21 FY 03 2200.00 .53 FY 03 1. Shareholding Pattern The shareholding pattern is as follows: Shareholder Reynold Traders Private Limited Tranquil Homes & Holdings Pvt.66) No. Garg.00 1.27 No. The name of the company was changed to “Jindal Coated Steel Ltd. Bhalerao and Mr.42) 0.000 11. Sriram K S N. N. Raman Madhok and Dr. V. R. Jain.02 (0.000.00 49.) BV (Rs.009) 5. K. Mr.92) 0. 2001 and the company was reconverted into a private limited company with effect from July 26.00 100.000 22.60 FY 02 0. Ltd.00 50. The Company is in the business of trading in steels and also has made strategic investment in South West Port Ltd. P.99) 16.900 4.000 % of shareholding 50.00 (1039. 1998.) FY 04 2200. Limited V. Total Financial performance The financial performance of the company (Rs. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Miscellaneous Expenditure not written off FY 04 1. Nowal. Mr.53 (2. The company’s Board of Directors comprises Mr.13) 5.Information Memorandum The company was incorporated as a private limited company “JBS Steel Products Pvt.81 (11.00 (1051.00 (0. D.” with effect from February 23. Presently the company is in the process of diversifying into other business activities.00 0.00 (1053.000. Shareholding Pattern The shareholding pattern is as follows: Shareholder Jindal South West Holdings Limited Sun Investments Pvt.00 1. Private Limited Incorporated on January 12.” on August 6. The company’s board of directors comprises Mr.85) (0.00 100. in lacs) is given below: Particulars Equity Share Capital Reserve & surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs. V.05) 5.09) (0. 2002.92 (29. Garg Girish Ghate Total Financial performance The financial performance of the company (Rs.49) (0.22 FY 02 2200.00 (29) Dhaman Khol Engineering & Construction Co. P. Ltd.900 100 100 10. K.000 % of shareholding 49.83) 8.28) (0. However the project was shelved due to uncertain outlook in the steel market.65 - . 1996 and was converted into a public limited company “JBS Steel Products Ltd.

1994.00% 0. Abraham Mr.K.160. It is engaged in the business of power generation.14) (1.400 12. Sajjan Jindal Mr.T.77 20.46 0.Information Memorandum Income PAT Dividend EPS (Rs.24 FY 03 289.000 % of Shareholding 0.40) (0.05 10. P.) FY 04 289.35% 10.43 195.38% 35.00% 0.11 1. in crores) is given below: Particulars Equity Share Capital Reserve & surplus Excluding revaluation reserve Operating Income PAT Dividend EPS (Rs.01) 41.96 12.33 (0.55 21. N.90) JTPCL was incorporated on March 10.685. JTPCL has set up a 2X130 MW thermal power plant.) (30) Jindal Thermal Power Company Limited 430.66 - . Limited Vrindavan Services Pvt.00 79. of Shares 100 100 100 100 100 144.56 1.00 295. in Toranagallu village.56 6.) BV (Rs.27% 100.000 289. K.000.00% 50. Limited Total Financial Performance The financial performance of the company (Rs.47 FY 02 289.00% Chairman Vice Chairman Joint Managing Director & CEO Director Finance Director Director Nominee of ICICI Nominee of IDBI .73 No. Prithvi Raj Jindal Mr.20 56.) BV (Rs.74 13.48 (11. Jayaraman Iyer Shareholding Pattern Shareholding Pattern is as follows: Shareholder Jindal Strips Limited Jindal South West Holdings Limited Mr.00% 4. District Bellary.03)(15.000 29. Krishna Deshika Mr. Jain Mr.100 102.88 278.00 100. JTPCL consumes about 20 MW as auxiliary consumption and supplies about 140 MW of power to JVSL and about 100 MW to KPTCL. Karnataka. R.13) (0. Raaj Kumar Mr.499.00 231. Raman Madhok Mr. Ratan Jindal Jindal Vijayanagar Steel Limited Gagan Trading Company Limited Sun Investments Pvt. Sajjan Jindal Mr.00% 0. The Board of Directors comprises: Mr.00% 0.35) (459. The plant has been operating since January 2000 at PLF of over 95%. Balaji Swaminathan Mr.655.31 234.

02% 12.000 2.5 mtpa of HR coils with an investment of around Rs.T.739. 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.400 26. Jain Mr.000 10.05) NIL Commercial Operation yet to begin Commercial Operation yet to begin Nil Commercial Operation yet to begin Rs.00% 43.200. Krishna Deshika Mr. Raaj Kumar Mr. 6. of shares 5000 55.67 - .600 4. 1994.Information Memorandum (31) JSW Power Limited (JPL) JPL was incorporated on January 3.K. 2003 under the Companies Act. JPL is promoted by Jindal Thermal Power Company Limited and the other Companies of the Groups. K. The plant. which uses COREX technology from Voest – Alpine.93% 34. The company is also now setting up of two 30 MW power plant in SISCOL premises. has a production capacity of 2. J. 1956. JPL is setting up two power plants with the capacity of 100 MW each. JVSL's plant located at Toranagallu.500 Cr. 78.01% 0. namely: Unit I and II. Bellary District. Austria is the first plant to . which will be captive to Jindal Vijayanagar Steel Limited (JVSL).959. It has been promoted by JISCO and its associated companies and Karnataka State Industrial Investment Development Corporation Limited (KSIIDC). The scheduled time for commissioning of Unit I is April 2005 and for Unit II is October 2005. Upinder Singh Mr.3.) (32) FY 04 Rs.000 % of shareholding 0.79% 100. Spread over 3500 acres of land. Company’s board of directors comprise of the following directors: Mr.00% 0.600. K. 9.00% 0. Sanjay Sagar Mr.000 200.07% 0.640.00% 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 15.26% 3.700 100 100 100 33.000 78.86 No.2 crores (as on 3. N.50% 0.43% 5.000.) BV (Rs.

37% 16.) 2004-05 469.Indian Promoter's .72% 6.Total Non-Promoter's Holding Institutional Investors Mutual Funds and UTI Banks.98 195.53% 0.Total Grand Total No.30 2003-04 1631. JVSL manufactures high quality Hot Rolled Coils. Finacial Institutios.97 7035.03% 22.00% Stock Market Data .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.Institutions /Non-Government Institutions) FIIs Sub .25% 3.67) Nil (0.28 2002-03 1352.12% 30.03 Nil 2786.42% 0.00% 47.68 - .Total Others Private Corporate Bodies Indian Public NRIs/OCBs Any Other(Please Specify) Trust Huf Sub .16% 3105142 2.86) 1. of Shares held % Shareholdings 55154742 5704612 0 60859354 42.Information Memorandum use oxygen-based Iron and Steel making in the country with continuous casting and hot strip mill.04 (110. Plates and Sheets and is the only flat Steel Producer in South India.49 528. in crores) is given below: Particulars Share capital Reserves and surplus (excluding revaluation reserves) Sales (including Excise duty) PAT Dividend (%) EPS (Rs. Financial Performance The financial performance of the company (Rs.92 6. Insurance Companies (Centeral/State Govt.08 Nil 3590. JVSL was set-up as a backward integration facility for production of hot rolled coils for JISCO.41% C 4 A B C D 28028571 7901485 39035198 4346484 21715128 2354540 684458 43980 29144590 129039142 21.74% 4.59% 100.Foreign Promoter's Persons acting in Concert Sub .11 80% 64.) # BV (Rs.13 2329.90 870.82% 0.68 Nil 3.83% 1. Shareholding pattern as follows: - Category A Promoter's holding Promoter's * 1 2 B 3 A B .

) Low (Rs.35 The market price of shares of JVSL (as on April 4.) 457.70 22. 2005) on BSE was Rs. 2000.2004 to 31. S. B. facilitating for organic and inorganic growth. IAS Mr.2005. David Chandrasekaran Mr. Through a scheme of Arrangement and Amalgamation between JISCO.10. 391.79 12. Seshagiri Rao M. The Board of Directors of the merged entity comprises: Smt.75 12. The company has its investor service center at Mumbai and has engaged the services of a Registrar & Transfer Agents to handle investor grievances.40 11. The company was incorporated on June 10. 2000 (appointed date) on a going concern basis for a consideration of Rs. Vittala Murthy.00 13.I. 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. the steel business of JISCO has been merged with that of JVSL from the Appointed Date 1st April.Information Memorandum Month/Year March/2005 Februvary/2005 January/2005 December/2004 November/2004 October/2004 BSE High (Rs. Out of 5255 complaints (related to shareholders) received during the period 01.40 11. Pursuant to scheme of arrangement sanctioned by High Court of Punjab & Haryana. JVSL as a consolidated entity has acquired significant strength with strong financials. IAS Mr.90 14.N. 5.10 NSE High (Rs. N. The scheme has been made effective on October 3. Board of Directors details as follows .) Low (Rs.80 18.00 14.03.69 - . depending on the type of complaint.S Dr. 1993 in the name of Kay Kay Cold Storage Private Limited.95 18. The said scheme has been sanctioned by the Hon’ble High Court of Mumbai and Karnataka and has since become effective from 4th February.65 22.N. Balaji Swaminathan Mr.50 356. Aiyar (33) Jindal Steel & Alloys Limited Chairperson Vice Chairman & Managing Director Jt. Anthony Paul Pedder Dr. 5127 complaints have been resolved and 154 complaints are pending. 35 crores.M. Singh Mr.67 12. Ramaswamy P. JSWHL and JVSL (“scheme”).99 11.30 crores. Savitri Devi Jindal Mr.40 356.K.00 18.80 18. Roy Mr.30 and the market capitalization was Rs. Sajjan Jindal Dr.65 13. 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. After the merger. Managing Director & CEO Jt. Gupta Mr. R. Gokul Ram. Raman Madhok Mr. The name of the company was changed to Jindal Steel and Alloys Limited.00 11. 2005. 2003.25 15. 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 1.90 14.049.) 458. The average time taken by the company for redressal of complaints varies from 7 to 15 days.V.20 15.

U. Vinod K.00 . Ram Chandra Sharma Dr.Information Memorandum Name Mr.9786 500 0.00 10000 100.0014 100 0.00 1500 15.0071 500 0. Mr. Jindal Mr. Jija Madhavan Hari Singh. Patel Mr.83 9808.34 17005.28 70. N. N.0014 100 0.49 1. Anil Sood.) (34) Vijayanagar Minerals Private Limited (VMPL) FY03-04 702. P. 1997.0000 The financial performance of the company (Rs.78 1.18. Ratan Jindal Mr. of shares % of shareholding 70. metals. O.70 - . Mr. Yogendra Tripathi. Gupta.56 52. The board of directors comprises Dr. ores etc.68 109.06 21569. N.80 FY01-02 702. Limited Total Financial performance No.00 3075.00 2951. Kole Mr. Dr. Om Prakash Agarwal Shareholding Pattern is as follows: Shareholders Jindal Strips Limited Mr. Krishne Gowda. R. in lacs) is given below: Particulars Share capital Reserves and surplus (excluding revaluation reserves) Sales (Net of Excise) PAT Dividend (%) EPS (Rs. Shareholding Pattern The shareholding pattern is as follows: Shareholders Jindal Vijayanagar Steel Limited Mysore Minerals Limited Gagan Trading Company Limited Sun Investments Pvt. B. It is in the business of mining and extraction of minerals.27 0.00 1500 15. K. Smt.0014 100 0. Singh. K. S.00 53. Jain Mr.0014 100 0. K. Singh. Rajeev Pai Total Financial Performance: Designation Managing Director Director Director Director Director Director Director Director No. Venkateshan and Mr. Mr.500 99. Mr. Subhash Sharma Mr. Rajeev Pai Mr.24 54. A.82 FY02-03 702.02 The company was incorporated on June 17. K. Raman Madhok. Sushil Bansal Mr.77 52.0014 7020000 100. of Shares % of shareholding 4000 40. P. Raman Madhok Mr.) BV (Rs. N. Mr. Patel Mr. V. P.00 3005. M.00 3000 30. Nowal Mr.0071 100 0.

V.92 50. It also has plants for generation of power and production of oxygen.00. Sinter plant in August 1997.00020 (568.39 10 FY 03 1. Mr. Vijay Sharma. Sajjan Jindal. The board of directors of the company comprises Mr.Information Memorandum The financial performance of the company (Rs. Steel Melting Shop in January 1999.10) 10 Southern Iron And Steel Company Limited (SISCOL) Southern Iron and Steel Company Limited (SISCOL) was incorporated on September 11.45) 10 FY 02 0.08 0. V. Bars and Rods at its integrated steel plant located at Pottaneri/M. Mr. Sajjan Jindal) (b) TIDCO Sub Total (a)+(b) Other Shareholders Mutual Funds and UTI Banks. which is headed by Mr. (LMW) and Tamil nadu Industrial Development Corporation Ltd.55. Mr. 2004 is as follows: Category Promoters and Promoter Group (a) JSW Group (including Mr. Mr.39. Steel Billet and Rolled Steel products in the long product category. Shareholding Pattern The shareholding pattern as on December 31. The Company is in the business of manufacturing Pig iron.) BV (Rs. Air Separation plant in June 1999 and Bar and Rod Mill in May 2002.93 45. Kalipatti villages.000 56.974 3.04 100% .00 (463.50.71 - .100 29. (TIDCO).976 29. Mr.82. and is referred to BIFR.100 7.000 82.64 0.01 3. 1995. The Company operates an integrated steel plant having facilities for production of Pig Iron.) (35) FY 04 1. Jain. T. Kamal Kishore Gupta and Mr.3 mtpa.664.71.55) 1. FIs and Insurance Companies Private Corporate Bodies Indian Public NRIs/OCBs Total Financial performance The financial performance of the company (Rs.289. P.42.051. Shanmugasundaram. 2004 within the meaning of the Sick Industrial Companies (Special Provisions) Act.88 166. K.21.700 10. 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. Kshirsagar.in lacs) is given below: No. Prakash. In terms of the CDR approval and as per approval by the shareholders of SISCOL and by SEBI. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Sales PAT Dividend EPS (Rs.71 10. S.90 (568.000 3.16) 2. Billets. Krishna Deshika. 1991 as a Public Limited Company promoted by M/s. The capacity of the plant is 0. The Company started commissioning its units with iron making division and power plant in 1996.850 % of shareholding 39.00 (629.10) 1.00. K. Lakshmi Machine Works Ltd.74 (61. of Shares 3. N. LMW has sold their entire shareholding in SISCOL to the Jindal South West (JSW) Group.50.30 0. The Company has become a Sick Company as on June 30.

38 (2771.20. owning. Captain B. (C) Associate Companies (1) South West Port Limited (SWPL) SWPL incorporated on June 26.96 34144.49) Nil (20. 2005. Ltd No. 1999 for the development. 2005 and closes on April 29.12. SWPL has entered into a license agreement with Mormugao Port Trust (MPT) on April 11. Sajjan Jindal.75 34.06 FY01-02 16039. Shareholding Pattern The shareholding pattern is as follows: Shareholder ABG Heavy Industries Ltd.24 7607. The board of directors of the company comprises Mr. Raman Madhok. The average time taken by the company for redressal of complaints is up to two weeks. Nowal.10 and the market capitalization was Rs.96 4930. Sharma (Joint MD & CEO).23 .47) Nil (6. The company’s name was subsequently changed to SWPL in September 2003.31) (16.000 % of shareholding 26.K.05 20. Pvt.K. resolved/replied 16 and Pending Nil. Mr. operating and maintaining two dedicated bulk cargo berths at MPT on a build.05 crores.95 15.67) 10. designing.000 84.Information Memorandum Particulars Share capital Reserves and surplus (excluding revaluation reserves) Sales PAT/(Loss) Dividend (%) EPS (Rs.00 18.30 23.V. operate and transfer (BOOT) basis. equipping. 2005) on BSE was Rs. Dr. own. 2005 – Received 16.) Stock Market Data Month October 04 November 04 December 04 January 05 February 05 March 05 BSE High (Rs.72 - .) 14. Co. Saket Agarwal.25) FY02-03 16039. Mr.56 (15340. financing.43 (4570.45 Low (Rs. The company has engaged the services of a Registrar & Transfer Agent to handle the grievances of the investors.85 24.24. & Const.20.182. Nasser Munjee and Mr. (including nominees) Dhaman khol Engg. engineering.00 21. depending on the type of complaint.) 18. Status of Investor Complaints received during the period from October 2004 to March.J. 1997 as a private limited company known as ABG Goa Port Private Limited and promoted by ABG Heavy Industries Limited (ABGHIL). of shares 1.24 7607. constructing.05) 4.80 21. V.43) Nil (3.96 26844.10 18.80 FY03-04 (15 months) 16039.The market price of shares of the company (as on April 15.) BV (Rs.85 51.60 23.24 7607.11 The Company’s rights issue is open since March 31.

in lacs) is given below: Particulars Equity Share Capital (Shares of Rs. Shareholding Pattern The shareholding pattern is as follows: Shareholder Praxair Pacific Private Limited Jindal Vijayanagar Steel Ltd. Mr. other income) PAT Dividend (%) EPS (Rs.718.000 3. Financial performance The financial performance of the company (Rs.) Note: Audit for FY 2004 has not been completed yet.00 15.79 22.000 % of shareholding 74. 2004 the Company has issued 11229900 equity shares.5% Secured Redeemable Non Convertible Debentures of the Company are listed on The Stock Exchange.K. of shares 11. However.00. no profit and loss account has been prepared by the company. Mr.752.01 NIL 2. 10 each) Reserves and surplus (excluding revaluation reserves) Income (incl.20. Mr.600. Mr.03 NIL 1.877.79 845.00 . Nalwa Chrome Pvt. Total Financial performance The financial performance of the company (Rs.02.00 4. Venkatesh Prabhu and Mr. Mr.00 -28. Qureshi. Muralidhara.000 23.200.82 FY 02 550.910.20.21 9. 9.10.248.47 2.85 Since the company had not started commercial operation till FY04. Mr.24.36 9.00 26.00. Nitrogen and Liquid Argon.00.95. Sharad Madhok.000 45. Mumbai.10 NIL 1.01 --53. The Shares of the SWPL are not listed.37 2. Jain.00 450.91 13.24.062 4. C.11 11. Mr.62.200.01 12. The Board of Directors of the company comprises Mr.00 100. Moosa Raza.43. Kalyana Sundaram. Ltd. Mr. (2) Jindal Praxair Oxygen Company Private Limited (JPOCL) JPOCL was incorporated on September 27.17 1. K.00 After March 31.89 27.604. in lacs) is given below: Particulars Equity Share Capital Advance against Share Capital Reserve & Surplus Miscellaneous Expenditure not written off BV (Rs. 1995 and manufactures liquid and gaseous Oxygen.) BV per share (Rs.42 3. Mr.) FY 04 3497. Vikas Sharma.81 9. N. FY 2003 FY 2002 FY 2001 15.11 25.31 16. Asit Gangopadhyay.551.98 9.00 --7. John Panikar.80.000 15. Gerry Reidy.85 FY 03 1150.Information Memorandum Tranquil Homes & Holdings Pvt.938 1. (Including Nominees) Silver Steel Ltd Total 1. I. Ltd.00 7.73 - .17 100.59 No.571.

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

1109.75 - . no Profit & Loss account was prepared. pursuant to the provisions of Section 391-394 of the Companies Act.96 lacs as against Reserves and Surplus of Rs. Risk & Concerns JSWHL’s main source of income is dividend on investments made in listed / unlisted companies. 52121. 5 lacs and incurred pre-operative expenses to the tune of Rs. the Investment Division of JISCO. the Company continued to hold its investments in Jindal Group Companies in addition to providing of consultancy services. 560. or deed. . instrument.66 lacs mainly comprising of dividend and interest income and the Profit after Tax amounted to Rs. 0. the Income of the Company for the year ended March 31. 529. 2001. 1956. The Company raised equity share capital of Rs. stands transferred to and vested in JSWHL.Information Memorandum MANAGEMENT DISCUSSION & ANALYSIS Performance in successive periods The Company was incorporated on July 12. without any further act. Pursuant to the Scheme of Arrangement and Amalgamation approved by Hon’ble High Courts of judicature at Bombay and Karnataka.48 lacs. 5 lacs and made investments in Jindal Group Companies to the tune of 8. The share capital of the Company stood at Rs. 0.28 lacs. The Company also provided consultancy services resulting in an income of Rs.70 lacs. 2005 stood at Rs. 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. Therefore.50 lacs.06 lacs. After giving effect to the above Scheme during the Financial Year 2004-05. During financial year 2001-02 since the Company had not commenced any commercial activity. In financial year 2003-04.

Public Issue of Southern Iron And Steel Company Limited The Company had come out with two simultaneous but unlinked issues of (a) 1.00 151. 70 each for cash at par aggregating Rs.00 180.Information Memorandum PROMISE VERSUS PERFORMANCE The details of shortfall in promise vs. Corex 1 was recommissioned after a lapse of one year by carrying out rectifications/modifications. These issues opened for subscription on March 23. The commissioning of the plants was delayed due to technological issues.00 320.93 1740.77) (34.57 mtpa. 25.68 21. 1995.00 17.50.000 14% secured redeemable Partly Convertible Debentures (PCDs) of Rs.50 crores and (b) 35. 24.00 162.37 0.18) (148. 2004 was Rs.25. converter caster. 10 aggregating Rs.20 47.00 931. increase in interest during construction and foreign exchange variation also resulted in a cost overrun of the project. These issues opened for subscription on February 10. When the company started operation of the integrated steel plant after recommissioning of Corex.00 537.29 (148. Public Issue of Jindal Vijayanagar Steel Limited The company had come out with two simultaneous but unlinked public issues of (a) 13. 1995. During the initial project implementation. The actual project cost up to March 31.00 614.23 183.92 1944.00 623.00 725.77) 1093.84) 801.00 134.00 78. 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 621.30 (34.50 crores.18 (0. hot charging systems in Hot Strip Mill were added to enhance the overall capacity of the integrated steel plant to 1.00 0. 10 each for cash at par aggregating Rs.00.000 equity shares of Rs. Delay in disbursal of loans and non-receipt of call money caused a further delay in project implementation.87 84.78 197. 6226 crores. 135 crores and (b) 27. 3300 crores including margin money for working capital.08 1548.00 34.00 738. modifications were effected to the basic design of the main plant and additional plant/facilities like pellet plant.04) 1220.00 129.000 Partial Optional Convertible Debentures (POCDs) of Rs.000 equity shares of Rs. Capitalisation of preoperative expenses incurred during prolonged trail run.00 32. the steel industry as a whole witnessed historically low level of selling prices on account of a global down turn.00 524. A comparison of promises versus performance is given below: .00.00 530. 1090 crores.00 162.00 (0.67 80.50. 40 each for cash at par aggregating Rs.18) The project cost to set up an integrated steel plant of capacity of 1. A comparison of promises versus performance is given below: (Rs.27. 10 each for cash at a premium of Rs.30) 0.00 126.43 23.76 - .00 317.84) (0. 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.48 (29.00 134.00.04) (29.25 mtpa of HR coils in June 1994 was estimated to be Rs.

% Net cash accruals Equity capital Reserves & surplus EPS (Rs.79) 8.25 (18. Air Separation Plant (ASP) and boilers of power plant and Energy Optimization Furnace (EOF). Frequent shutdowns and start up at blast furnace has led to excessive consumption of costly input materials such as coke and furnace oil.58 60.00% 228. competition. FY 97 Projection Actual 214.91 25.91 3.42) 75.31 4.87 5.72% 16.19 214.80 17.48) 17.34 51. The lower capacity utilization was due to non-availability of input materials in time.95 7.35 65.50 265.37 (4.00 75. being an integrated steel plant. 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 . blast furnace. also substantially contributed to a high cost of production. power and furnace oil increased.71) (21.55 (33.79 101. While the cost of input.500 0.66 5.63 1.51 - 47.18) 75. the fixed cost and semi-fixed cost components such as manpower.00 75.50 230.46 37.45) 5.52) 17.72) 19. the Company took various steps to improve operational efficiency.60 (7.47 214.01) 5.01 2.34 8.500 76.00 161. adversely affected the equipment and the life of refractory lining.74) 12.29 4. which in turn was due to non-availability of working capital.13 84. Every start up required liquid oxygen to be purchased from external source.50 301.46 15.00 (2.49 37.28 0.14 FY 98 Projection Actual 214. reduce cost of production and to improve quality. 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. Due to under-utilization of capacity at iron making and steel making stages and almost no capacity utilization in BRM.37 37.66 75.17 15.00% 261. mainly raw material.44 7.34 29.725 80.80 76.49 (1.08 (4.00 49. especially at blast furnace. Due to frequent stoppage and start-up.55 (33.35) (13.86) Due to delay in disbursal of funds by the financial institutions for project completion.54 76.45 116.08 (4. which was even below the cost of production.78 (24.42) (12.21% 65. The shutdown of operations.61) (13. Cryogenic equipment such as ASP is not designed for any stoppages and is expected to work with uninterrupted operations for years together. which added to the cost. energy i. lower demand and lower sales realization.725 214.08 (24.e.Information Memorandum (Rs.47 28.37) 70.71) (14.78 51. The unscheduled stoppages .00% 27.52 9.55 19.18) (14.94 22. The plant.00 86. the cost of project went up substantially adding to the fixed cost component of its finished products.35) 75.725 90.86) 8. electricity etc.44 9.27 1.99 39.27 (7.96 21.89% 293.70 29.725 70.61) (18.00 FY 99 Projection Actual 214.00 (1.42) 17.61 75.80 14.29 4.16 62. The main reason for this was depressed steel market scenario with low demand and low selling prices.37) 47. Frequent stoppages of ASP caused substantial increase in cost of up-keep for the equipment.00 (2.89) 19.00 70.37 75.42 0.78 75.81 48.98 46.725 22.53 (21.88) (12. In view of external factors such as adverse market conditions.13 0.12 21.45) (4.06 21.77 - .70 10. the selling prices showed a decreasing trend.00% Trial prodn. decrease wastage.) Book value (Rs) 183. with pyro metallurgical equipment and machinery. requires uninterrupted operations.00% 87.56 5.45 (12.00 113.41 183.00 75.88) (12.725 41.

6 mtpa of Sponge Iron and 0.71 crores and pre-operative expenses and interest during construction by Rs.18 crores. 238 crores increase in the project cost as appraised in September 1997. the Company could not raise the public portion of the additional equity aggregating Rs.05 crores. Consequent to the change in the configuration of the mill.Information Memorandum also resulted in huge inventory of high value items like ferro alloys. The increase was mainly on account of the increase in the interest during construction of Rs. As a result.151 crores mainly on account of additional interest during construction of Rs.1 crores. 25. and executives who have experience in implementing projects in the area. 688 crores in September 1997. 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 company came out with the rights issue of 77. 2. 196 crores compared to the previous appraisal of Rs.12.30 mtpa mill at a cost of Rs. The Company later entered into a contract for 0. However. an increase by Rs. However.91 crores on the foreign currency loans.17 crores.28 crores consequent to delays in the implementation of the project.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 .06 crores. The Company’s project was originally scheduled for completion in March 1996. 27. 44.10 crores for meeting a part of the 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. 46 crores including refurbishing cost for a 0. the facilities were shut down from November 2000. exchange fluctuation of Rs. with commercial production in April 1996. There was also an increase in cost of miscellaneous assets to the extent of Rs. 450 crores at the time of original appraisal to Rs. The original cost estimated at Rs. which was scheduled for completion in October 1998. because of an increase of Rs. However. the new promoters. The project has witnessed time and cost overrun since inception due to various reasons outlined above. there was an increase of Rs. 839 crores in August 1999 and finally revised to Rs. which blocked working capital and increased interest cost.96 crores and balance mainly on account of the cash losses on sale of the intermediate products. increase in trial production losses capitalized of Rs. The Company had originally planned to import a second hand mill at a cost of Rs.1035 crores in September 2001. the implementation of the project. 1035 crores till completion of project in January 2003. The project cost was reappraised in September 2001 to Rs. 4. 450 crores in July 1994 was revised to Rs. 35.101. to enhance capacity from 0.1 mtpa Sponge Iron/Pig Iron to 0. the present project expansion is being implemented by the JSW Group.5% Partly Convertible Debentures (PCDs) of Rs. 360 each for cash at par aggregating Rs. Due to the gap in the means of financing. 143.79. 1035 crores. 839 crores. capital equipment costs not originally envisaged (electro-magnetic stirrer) of Rs.22 mtpa mill. 280. to Rs. there was an increase in the cost of project estimated at Rs. Public Issue of Jindal Strips Limited In 1992. due to shortage of working capital.108. was delayed. 12.203 .87 crores to Rs. The project had suffered a cost overrun from Rs. 34. Revision in August 1999: Due to the depressed capital market conditions. 839 crores.05 crores. 19.08 crores.78 - . other pre-operative expenses of Rs. the Company could commission only the first phase of the project (iron making facilities) by July 1996. 12. 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. Revision in September 2001: The Company had commenced production from part of the facilities. mainly due to delays in acquisition of land.

in crores): Land & site development Building Plant & Machinery Misc. 50% for 1993-94 and 70% for 1994-95 for its new project.82 15. Fixed Assets Others Total Planned costs Actual costs 1.719 490 46. A comparison of promises versus performance is given below: The cost of fixed assets in the project is as under (Rs. and problems were also faced by other steel manufacturers.000 MT 200. changed the plan for manufacture of Pig Iron and decided to install 2 Electric Arc Furnaces of 50 tons each for manufacturing Mild Steel.Information Memorandum plant at Raigarh. The company.734 513 5.52 The actual project cost. As per the original plan. without having the cooling cycle operation. the kilns and submerged arc furnaces were expected to be installed by March 1994.449. was Rs.000 MT 200.000 MT 100.000 MT 200. not successful for the company.566 97.62 355.99 2.000 kwh Utilisation 4% 3% 11% 0. This issue opened for subscription on March 9. 1992.41 19. The company expected to achieve a capacity utilization of 30% for 1992-93.79 99.000 MT 200.00 449.000 30 MW Production 97 75 11. Sponge Iron was to be manufactured from the Rotary Kiln (6 kilns each of 0. This technology was.757. 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 100.52 crores.89 345.000 MT 100. Madhya Pradesh.79 - .34 147. 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.000 MT 100.175 nil 20. was to be transferred to Submerged Arc Furnace for manufacturing Pig Iron.000 MT 100.5% 23% 1% 26% 43% 10% .916 2.68 28.000 MT 300. therefore. The Submerged Arc Furnace installed initially was utilized for manufacturing Ferro Chrome. however. 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. cumulative till 1995-96.62 57.36 85.1 mtpa) and the Sponge Iron in hot stage.

000 30 MW 30.80 - .000 equity shares of Rs. The project was completed on 13.850 45.000 204.92.745 7.3.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 400.000 45 MW 30.992 crores.613. 1986. . to set up a project for the manufacture of high pressure. 10 each for cash at par aggregating Rs.447 78.073.771 300.000 500. Public Issue of Jindal Saw Limited In 1986.380 69.000 500.000 200.667 kwh 1. thick walled large diameter SAW Pipes.731 66% 23% 6% 71% 14% 26% Note: Capacity utilisation % has been worked out after considering commissioning period. The actual capacity utilization is close to the projected figures except for some differences encountered during the process of stabilization of equipment.1987 and commercial production was started. the company came out with the public issue of 19. 1. This issue opened for subscription on July 7.970 35.

The United Western Bank Ltd. By JSWHL against its employees There is no outstanding litigation by JSWHL against its employees. has filed an . 86.A. other than unclaimed liabilities of the Company. A decree of Rs. O. criminal or civil prosecution. 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 by employees There is no outstanding litigation against JSWHL by its employees.drawn by Hindustan Foils and discounted the same with the Applicant Bank. New Delhi for Hearing Subject of the Matter Recovery Suit for bills dishonoured by Hindustan Foils. its Promoters. Parties Pending Before DRT. suit. Directors or Promoter Group companies.Information Memorandum OUTSTANDING LITIGATION AND MATERIAL DEVELOPMENTS Save as stated herein: • There are no outstanding or pending material litigation.) 86.81 - .40. Jindal Strips Ltd. 86. (Resp. Hindustan Foil Ltd. its Promoters or Promoter Group companies. There are no material defaults.15% Facts 1. 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. institutional or bank dues or dues towards holders of debentures.213 of 2001 Benares State Bank Ltd. • Against JSWHL There is no outstanding litigation and default against JSWHL.40. Promoter Companies Jindal Strips Limited Case No. Hindustan Foils Ltd. … Applicants Vs. No.40.291/together with interest @22. No.6) …Defendants Jindal Strips had accepted hundis worth Rs. Against Promoter / Group / Associate Companies of JSWHL (A) (1) Sr. No.291/along with interest is sought against Jindal Strips Amount Involved (Rs.291/. bonds and fixed deposits and arrears of preference shares. & Ors. non payments or overdues of statutory dues.

82 - . 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.Information Memorandum application for registering itself as a Sick Industrial Unit with BIFR. Jindal Strips has Appealed against the aforesaid order in the Apex Court. The application is presently pending before A.R. State of Orissa & Ors.1.I. …Defendants Civil Court. Other companies and organisations viz. Jindal Strips Ltd.) 2.27010 of 2004 Jindal Strips Ltd. TISCO and VISA had also filed Petitions challenging the selection of Jindal Strips as JV Partner of IDCOL. . Hisar for Hearing Injunction Suit - 3. IDCOL had invited bids for forming a JV with in respect of Tangarpada Mines and selected Jindal Strips as its JV Partner.F. …Petitioner V/s. has also filed seven suits against Hindustan Foil to recover an amount of Rs. ("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. …Respondents Supreme Court of India for Hearing Joint Venture Partnership between Industrial Development Corporation of Orissa Ltd. - Sanjay Kumar …Plaintiff V/s. Special Leave Petition No. Jindal Strips Ltd. 45 lacs (approx.

17250 of 2003 In Civil Appeal No. State Govt. & Ors… Respondents And Jindal Strip Ltd. GMR Technologies & Industries Ltd.83 - .6788 of 2004 State of Orissa …Petitioner V/s. …Applicant Supreme Court of India for Hearing Lease of Mines . No.A. 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. 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. is identical in nature. Union of India & Ors. & Anr. I. under Section 11(5) of the MMRD Act.2 of 2004 In Review Petition (Civil) No.2 of 2004 In SLP (Civil) No. has filed an Intervener Application in a case filed by Indian Charge Chrome Ltd. Indian Charge Chrome Ltd.295 hectares in Sukhinda Mines to Orissa Mining Corporation contrary to Chahar 5. Supreme Court of India for Hearing - - Jindal Strips Ltd. No. on the ground that interest of the Petitioner and that of Jindal Strips Ltd. Jindal Strips Ltd. And Jindal Strip Ltd. Intervention Application of JSL shall be considered only if review petition is allowed. The Petitioner has sought review of the said judgment from the Supreme Court. V/s. 1957 in relation to Sukhinda Valley / Sukhinda Mines. decision to allocate the entire 436.469 of 2003 In Transfer Case No.9 of 2002. Indian Charge Chrome Ltd.A. Supreme Court of India I.Information Memorandum 4.

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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87 - . 1. 399.05 lacs equity shares of Haryana Concast Ltd from H.99 lacs) b) Rs. Gift Tax Act.83 lacs. 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. 1. Rs.44 lacs (Previous year Rs. 743.25.55 lacs of dividend on 10% Redeemable Cumulative Preference Shares not provided. 1.S. 287. Income Tax Act. c) The Company has pledged 4900000 equity shares of Jindal Vijayanagar Steel Ltd & 669 sares of Jindal Iron & Steel Co.78. New Delhi Amount (5) • Jindal Equipment Leasing and Consultancy Services Limited As per Audited Balance Sheet of March 31. 2004 Contingent liabilities are: a) Outstanding disputed income tax and gift tax liability of Rs.21. f) In respect of bid for 63.88. b) The Company has given 1376677 equity shares of Jindal Iron & Steel Co. e) Rs.1293.65.56. No. Income tax Act. 1961 2. 715.48. • Non-payment of dues are as follows: Sr.I. New Delhi 61.738 ITAT New Delhi 1.83. 1961 Income tax Act.D. 212. Gift Tax Act.34. Name of the Statue Nature of the dues Amount Forum where dispute is pending CIT (Appeals) New Delhi ITAT New Delhi Income tax Act.Information Memorandum Sr. 1961 3.15. 1961 2. . Ltd with Deutsche Bank as safe custody of credit facility granted to Jindal Tractable Ltd.has been paid on October 20.217 2. 1961 Income tax demand Income tax demand 1.000/.960 ITAT.C.807 ITAT. • Non-payment of dues are as follows: Sr. 175. Name of the Statue No.15.75 lacs Cumulative arrear of dividend on 10% Redeemable Cumulative Preference Shares.730 CIT (A). 2004 under amnesty scheme for regularisation of Violation of Regulation 6&8 of (Substantial Acquisition of Shares & Takeover) Regulation 1997.00 lacs. New Delhi 47. 1958 Nature of the dues Income tax demand Income tax demand Gift tax demand Forum where dispute is pending 1. Name of the Statue No. for which no provision has been made. 1958 Nature of the dues Income tax demand Gift tax demand Forum where dispute is pending 5.437 Penalty Imposed by SEBI A sum of Rs. Income Tax Act.31.488 ITAT New Delhi Amount (6) Nalwa Investments Limited Contingent liabilities not provided: a) Disputed income tax Liability Rs.

I. No... The Arbitrators have passed Award in favour of Jindal Saw Ltd. and the same has been challenged by GAIL. Gas Authority of India Ltd.360 equity shares of Jindal Steel & Power Ltd. Vs.88 - . Parties Pending Before Subject of the Matter Amount (Rs.752.35 429.C. No. (GAIL) Delhi High Court Appeal against Arbitration Award Rs. (8) Jindal Saw Limited Contingent liabilities not provided for as on 30.000/. 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.) This case relates to the application of Price Reduction formula by GAIL pursuant to the delay in supply of pipes by Jindal Saw Ltd.2004 are in respect of: Sr.53 lacs Cumulative arrear of dividend on 10% Redeemable Cumulative Preference shares. for credit facility granted to JSPL. in crores 229.16 20. 48 crores (approx.I.02 58.C.264 of 2003 Jindal Saw Ltd. Ltd. . Case No. with I.87 4.) Facts Case No. 175.has been paid on October 20. b) The company has pledged 2.Information Memorandum (7) Abhinandan Investments Limited Contingent liabilities not provided: a) Rs.00 Civil Matters Sr.02 0. The reduction of price is being disputed by Jindal Saw Ltd. 1.09. Penalty Imposed by SEBI A sum of Rs.16. 2004 under amnesty scheme for regularisation of Violation of Regulation 6 & 8 of (Substantial Acquisition of Shares & Takeover) Regulation 1997.

Jindal Saw Ltd. SDJV. (ONGC) Bombay High Court - US$ 60224. - M/s. The reduction of price has been disputed by Jindal Saw Ltd. 1. Vs. Bangladesh attempted to invoke the performance Bank Guarantee for USD 705698 issued by Canara Bank through Bank of Nova Scotia.83 crores 3.89 - . Arbitration Penalty for delay in supplying pipes Rs. The reduction of price has been disputed by Jindal Saw Ltd.58 5. This case relates to the dispute relating to the applicability of foreign Exchange rates on payments made by ONGC to Jindal Saw Ltd. Vs. Vs. Suit No. This matter relates to the application of price reduction formula applied by ONGC pursuant to the delay in supply of pipes. . SDJV. under a contract for supply of pipes. Bharat Petroleum Corporation Ltd.12 crores 4. ONGC has challenged the Award before the High Court. 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.862 of 2002 M/s. Vs. (ONGC) Bombay High Court Appeal against the Award of the Arbitrator 1. Oil and Natural Gas Corporation Ltd. Arbitra tion Petitio n No. The Arbitrators have given the Award in favour of the Jindal Saw Ltd. Oil and Natural Gas Corporation Ltd.Information Memorandum 2. The Arbitrators have passed Award in favour of the Jindal Saw Ltd.292 of 2003 M/s. Jindal Saw Ltd.100 2 of 2002 M/s. Appeal No. ONGC has challenged the Award before the High Court. Jindal Saw Ltd. Dhaka on false and frivolous grounds. Jindal Saw Ltd.

Dhaka has filed and application against the injunction. HPCL filed its insurance claim and got the money. which were transported by CCI under separate agreement with HPCL. Jindal Saw Ltd. The Complainant has alleged deficiency of services in transferring the shares that were lodged by the Complainant for transfer. During the course of transportation some damage was done to pipes. United India Insurance has filed the case at Visakhapatnam for recovery of claim amount from CCI alleging their negligence in transporting the pipes.178 of 1990 United India Insurance Company Ltd. It has made JSL as party proforma as supplier of these pipes. The Bank of Asia Ltd. Jindal Saw Ltd. Vs. Case No.Information Memorandum 6.90 - . Lucknow and State Commissio n. contends that all rules and regulations have been observed while transferring the shares and also that the Consumer Forum had no . District Forum. respectivel y The High Court has granted permanent injunction against Canara Bank. which alleges to be the successor of Bank of Nova Scotia. Thereafter. Jindal Saw Ltd. CCI & Jindal Saw Ltd. 2nd Additional District Judge at Vishakapat tam No relief has been sough against the company 7. Case No 209 of 2004 and Appeal No A415 of 2003 Sidhanath Saxena Vs. Govind Ram Agarwal Vs. had supplied pipes to HPCL. Jindal Saw Ltd.

Other Indirect Taxes Matter 1. Allahabad A. Assessing Authority Trade Tax Vs. 1997-98 Rs.T.E. Mundra Environm ental Pollution The Pollution Board alleged that Jindal Saw Ltd. This case is in relation to the import of material from M/s P. Jindal Saw Ltd.T Act 1948 are attracted which stipulates penalty up to 40% of value of material so imported. . This Appeal has been filed by the Department against Jindal Saw Ltd.83. Jindal Saw Ltd. Assessing Authority Trade Tax Vs.694 2.Y.42.P.11.T.Information Memorandum jurisdiction to try the matter. & Ors First Class Judicial Magistrate.T Act 1948 for escapement of Tax. High Court Allahabad A. 5. is disputing the above matter. 1991-92 Rs. Commissioner has reopened this matter Under Section 21(2) of the U. 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. According to the Board this is in violation of the Environmental Impact Assessment Notification 1994. Jindal Saw Ltd.P. 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. Jindal Saw Ltd. variation.91 - . Jindal Saw Ltd. Assessing Authority Trade Tax V/s Jindal Saw Ltd. had undertaken substantial contraction of plant and blast furnace without obtaining prior environmental clearance. on F. This matter relates to the imposition of interest on tax deposited by Jindal Saw Ltd. Criminal Case No 416 of 2004 Gujarat Pollution Control Board Vs. High Court.J Pipes Mumbai without Form No. 3. Criminal Offences 1. High Court Allahabad A. 1997-98 Rs.Y. for carrying out job work.P.T Act 1948.600 The Add.31 by Jindal Saw Ltd.Y. Deputy Commission er (A) Kosi Kalan.66. A. 1995-96 Rs. Assessing Authority Trade Tax Vs.T. 1.940 3.Y.906 4. The provisions of Section 15 A (1) (0) of the U. 1.

1502. ITAT. The ITAT. Current Status of Tax Demands Gagan Trading Company Ltd. 578.20 Chargeability to Wealth Tax u/s 4 lacs and Rs. Versus Comm. On appeal. Supreme Court of India This matter relates to the applicability of Form 3 B and C. Versus Comm. Disputed tax demands Rs. 159. 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. of Income Tax Gagan Trading Company Ltd.16 lacs. (10) Gagan Trading Company Limited Contingent liabilities not provided for as on March 31.92 - .16. & 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.584 has not been acknowledged as debts in view of misappropriation of shares of the company.3. 2004 include: 1. However. On further appeal.40 lacs . the company is in the process of filing appeal to ITAT on the other issue of interest disallowance. Rs. On appeal. 2.42 lacs. Jindal Saw Ltd. 567. Mumbai has decided in favour of the Company. Assessing Authority Trade Tax Vs. Of Wealth Tax ITAT. Jindal Saw Ltd. Versus Comm.Information Memorandum 5.84 lacs. Mumbai Assessment Year 1998-99 Gagan Trading Company Ltd. of Income Tax ITAT. Mumbai has heard the Appeal and decided in favour of the Company. Mumbai for Hearing Assessment Year 2000-01 592. 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.000. (8)(b) of the Wealth Tax Act of the 184. the CIT (Appeals) has decided the matter relating to the addition of notional interest in favour of the company. respectively the CWT (Appeals) upheld the Assessing Officer’s contention. 2265. Dividend on preference shares Rs. property of the company. b) The company has lost the case of misappropriated shares for 600 equity shares of Jindal Strips Ltd.08 lacs Addition of notional interest on security deposits received while computing income from house property and disallowance of interest.

Contingent liabilities not provided for as on 31-03-2004 related to Disputed Income Tax Demand of Rs.56 Lacs (12) • • Vrindavan Services Private Limited Contingent liability not provided for as on March 31.111 Lacs as detailed below : Assessment Year & Amount of Demand 1991-92 Rs. Versus Union of India. Ltd. On appeal. 2004. 1 The demand had arisen due to disallowance of set off of brought forward loss of earlier year.25 lacs. As on March 31. Parties Pending Before Subject of the Matter Amount Involved (Rs. (13) Reynold Traders Private Limited . 2 1993-94 Rs. 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.Information Memorandum Assessment Year 2002-03 Rs.92 Lacs Addition of notional interest on security deposit received while computing income from house property and the disallowance of interest. The Company is in appeal to CIT (Appeals). 20 lacs. The demand had arisen due to disallowance of loss on renunciation of Rights shares.93 - . The petitioner filed this writ contending that the same was not required.431.) Facts Writ Petition No. The Company is in appeal to Income Tax Appellate Tribunal. 2004 pertained to dividend on preference shares (pro-rata) amounting to Rs. Current Status of Outstanding Litigation Case No.54. Director General of Foreign Trade (DGFT) and Comm. No. 8090 of 2003 Gagan Trading Company Ltd. which is yet to be decided. (11) Sun Investments Pvt. there was a default relating to interest on OCDs amounting to Rs.29 Lacs Details & Current Status Sr. the CIT (Appeals) upheld the Assessing officer’s contention. The Company is in the process of filing an appeal to the CIT (Appeals). 20. which is yet to be decided. of Customs issued a notice under Central Motor Vehicles Rule 126A for nonsubmission of homologation certificate.56.

State Sales Tax Dept. Products produced Rs. (B) Promoter Group Companies (1) Jindal Steel & Power Limited Contingent liabilities not provided for as on March 31. 4. The company has already deposited a sum of Rs. Products produced Rs.30.75. The company has already deposited a sum of Rs. The Company has already deposited a sum of Rs.946 for the A. Vs. Vs.20.against the amount demanded.76 36.02 208.396/.) Facts 1. 2004 are in respect of : Sr.Information Memorandum Income Tax Demands For Assessment Year 2000-01. Vs.340 for the A.28 Sales Tax Matters: Sr No Parties Pending Before Subject of the Matter Amount Involved (Rs.000/.Y. 1. a demand of Rs.20 5.Y. has passed an Order in the favour of the company. 42. Crores 459. 82. a) b) c) d) e) f) Particulars Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances) Guarantee’s issued by the Company’s bankers on behalf of the Company Letter of credit opened by banks Disputed Excise duty and other demands Future liability on account of lease rent for unexpired period Bonds executed for machinery imports under EPCG Scheme. 2000 the Dept. Board of Revenue Surcharge imposed and less set-off allowed Rs. Board of Revenue Denial of benefits for New/Addl. 199899 3. By an Order dated April 29. State Sales Tax Dept. The Company is in the process of filing an appeal to CIT(Appeals) against the order. .Y.for the A. Board of Revenue Denial of benefits for New/Addl.against the amount demanded.000/.58 7.94 - . 6. No.38 14.14 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. The company has been denied benefits on its new/additional products manufactured by it. Jindal Steel and Power Ltd. 20002001 The Company has been denied benefits on its new/additional products manufactured by it.000 against the amount demanded. 46. Jindal Steel and Power Ltd. State Sales Tax Dept. Jindal Steel and Power Ltd.58. 199798 2. Rs.

2000.06. Chattisgarh Payment of Duty 1. Parties Pending Before Subject of the Matter Amount Involved (Rs.772 9053 381. The matter had been appealed in the CESTAT by the company against the Order passed by the Comm.05 .012 Cenvat Credit on capital Replied on 14. A case of difference of book Reply sent ON 29.03 installed within the factory This case relates to service tax Reply sent on GTO service 01.11.) Facts 1. Asst Service tax on the services of Reply Sent 27. 1998 to March 31.55 crores 2. The company has paid an amount of Rs.03 stock and physical stock taken by the department.1998 to 17.10. Other Excise Matters Case Ref. has imposed a duty of on two (2) Induction Furnaces for the period April 1.11.697 1658 3.697 Asst Commisioner Excise Asst Commisioner Excise Asst Commisioner Excise Asst Commisioner Excise Asst Commisioner Excise Asst Commisioner Excise To the department.220.679 1287 241. V(CH86)15264/R/P R/JC/200 4/ADJ/51 88 Comm.04*ph Commisioner M/s NKK Corporation Japan 18.03.12 .45 lacs The Dept. Modvat credit on capital PH over on 20/2/2001. the modvat Replied on 4/7/96 – No PH document does not appear to be genuine.400 2300 37.874 2661 483. 3949 1.12.1998 after the Finance Act amendment in 2003. of Central Excise High Court.12*Adjourn 28. The company has already deposited the amount. The Department has imposed duty on Ladle Transfer Car by treating it as an item falling under heading 86 instead of 84.7*27. of Central Excise Vs.02.9.7. 1.Information Memorandum Central Excise Matters Sr No Case No. Jt. Writ Petition Jindal Steel and Power Ltd.03 ** PH goods relating to power plant 5.95 - .1.00 crores under protest.03 **PH goods relating to power plant 25.177. Amount (Rs) Pending Before Description of the Case Present Status 1993 179.. Raipur Classificati on for imposition of duty 7.03 installed within the factory. Jindal Steel and Power Ltd. Comm. goods. Cenvat Credit on capital Replied on 11. Comm. Vs.

644 1005 Add. Commissioner Excise 27. Cenvat on explosive used in Replied .061 Chief Commissioner Excise 346.96.02 denied by Commissioner.702 20755 2.037. The matter has been referred to High Court.96 - . Commissioner Excise 4169 4. Ref APPL – High credit on refractory materials Court to us.04 include the amount of volume discount on freight availed from Indian Railways in the assessable. Service tax on Engineering reply sent on 28.10. CEGAT allowed modvat DEPT. Cenvat credit as inputs on Reply sent on 20. M/s HPCL.7.04 on some old and used goods from factory to Nalwa Sponge. Commissioner Excise 21164 4.527.259 1489 2. We have HC BSP also filed a writ petition before High Court.11. This is to be reversed.2.8.058 1303 1.05 Engineering Company of Germany. Cenvat credit as inputs on Reply sent . Dept disputes that this item would be capital goods .756 Appealate Tribunal Raipur High Court Bilaspur 1077 43.04 coalmine.02-NOT HELD against order of CEGAT.417 3955 15.9.000 Add.03. This case refers to deficiency OIO Received – full in the document of the Disallow –Appl to be filed supplier of the goods.5. Cenvat credit taken on Reply sent on 11. which stands in our favour.832 Add.2004 rails and concrete sleepers and allied goods used in the factory This relates to demand of duty Replied on 10.98 to 1.593 Asst Commisioner Excise Add. Sponge iron burnt in the year CEGAT Remand to CCE 2000.726. Department has filed a Dept – Appeal – HC – PH petition before High Court 4. Jumbo Electric Platform truck as inputs and Ladle transfer car as capital goods.2. Commissioner Excise 492 4.05*ph Study (Audit) by an 18.451 23446 717.05 concrete sleepers and allied goods used for laying railway track in the factory. Department proposes to Reply sent on 30. Commissioner Excise Add.3. Cenvat credit on Hot metal Reply sent on 1.4.297.002.Information Memorandum Excise 4558 473.01 * WRIT for 1. Commissioner Excise Add. Commissioner Excise Add.6.03 Graphite Electrode as inputs.042.12.2.4.131.31.840 that we have taken in Japan itself (off shore service).04 transport vehicle.98. Service tax on GTO service Replied 22. Remission of duty PH held 22.606 High Court Bilaspur 19103 2187 Chief Commissioner Excise 6.

2000-2001 and A.32 lacs (approx. (2) Jindal Stainless Limited Contingent liabilities not provided for as on 31.26 3.Y. 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. 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.511. in Crores 34. The company is disputing the levy.50 lacs (approx.). 8.21 127. Departmental 5. Raipur for an amount of Rs.97 - .PH held Commissioner Graphite Electrode as inputs. The aggregate amount demanded is Rs. 1.) against which the company has already deposited an amount of Rs.). 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.39 lacs (approx.05*29.06 5. 592.31 Civil Matters: .745 Joint Cenvat credit taken on Reply sent. 3.323 Joint Dispute relates to modvat PRE-OBJ. 4) The company has been served with two (2) Show Cause Notices from the Commissioner of Central Excise. A.4.1.) against which the company has already deposited an amount of Rs.05 *4.79 5.05 appeal pending in CESTAT.13 lacs (approx.319. 7. No. 66. which in aggregate amount to a demand of Rs.03.93 254.) 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. 3) The Gram Panchayat has served a notice upon the company imposing Local Body Tax of Rs. 0.74 lacs (approx.2004 are in respect of : Sr.Information Memorandum 953 3.Y.938 Appealate Cenvat on explosive used in DEPT APPEAL ** PH Tribunal Delhi coal mine.03.05 Tribunal Delhi components/accessories (Chapter 84 vs Chapter 73) fabricated within the factory for captive use.104 3081 4576 2623 APPL*PH Appealate Classification of steel DEPT 09. 3.4. 2) There are Central Sales Tax matters pertaining to A.-20/9/94-NO PHCommissioner credit on capital goods. 1999-2000.Y. Excise 981.011. This is to be reversed.

000/- Municipal Corporation (Hisar) Vs Jindal Stainless Ltd. yd. HVPNL cancelled the allotment. However.11.V. Supreme Court of India Service Tax . V. Hisar for Hearing Development Charges Upon instructions of Jindal Stainless Ltd. 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.5 Acres of land from HVPNL which is situated between its two factories. The Municipal Corporation.606 of 2002 Jindal Stainless Ltd. Jindal Stainless Ltd.1997 to 1. Writ Petition No. 9. Civil Court. Union of India & ors. 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.e.6.48. New Delhi Subject of the Matter Suit dismissed as infructuous. ICICI Bank opened letter of Credit of US$4. New York Branch And Surya Impex.Information Memorandum Parties Pending Before High Court. had acquired 2. V. Jindal Stainless filed an Appeal in the Delhi High Court challenging the order of dismissal of the suit. 49. in its factory premises @ Rs.1998 Rs.) Potential liability of USD 4.163 The Excise Department has levied Service Tax @ 5% on Rs. Hisar LAND 15. filed a suit for specific performance and obtained a decree in its favour. Excise and Service Tax Matters 1. Jindal Ltd. KBC Bank N. KBC Bank N.23. HVPNL has filed this Appeal.500/. Facts Haryana Vidyut Prasaran Nigam Limited (HVPNL) Vs Jindal Stainless Ltd. V. Jindal Stainless Ltd. 120/per sq.For the period 16. Amount Involved (Rs.44. on account of the freight paid for the .Jindal Stainless Ltd.71. Hisar had made a demand for development charges in respect of a club constructed by Jindal Stainless Ltd.259/on account of the services provided by goods transport operators i.in favour of Surya Impex. Stainless V/s.48. was the negotiating Bank. 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. subsequently.98 - .00. ICICI Bank KBC Bank N. 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. Civil Court. Vs.500/alongwith interest.

Commission er. Gurgaon Modvat Credit on capital goods For the period April.188 (in all Eight Appeals) 3. 49. Before Central Excise. The company replied to the Show Cause Notice and Asst. 1996. 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. Jindal Stainless Ltd. 57. The company has paid the amount of Rs.14. 1995 to May. Refractory items etc.11. 1996 Rs. 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.99 - . Appeal/Delhi – III/45/2001 Central Excise Commissioner Vs. A/380387/2001 – NB(D) (Eight Appeals) (Northern Bench) Commissioner of Central Excise Vs. Rohtak for Hearing For the period September. Commission er (Appeals).163/under protest. November and December. 1994 January. The Department has levied Modvat Credit on capital goods namely Electrical and Machinery items and issued a Show Cause dated October 23.998 period from 16. Rs.05.1998.71. 1996 to July. the Department . 1996 to March. electric items. 1996. Being aggrieved. 49. 1995 June. The Department has levied Modvat Credit on capital goods namely electrical goods.1997 to 1. Commissioner decided the case in favour of the Company. Jindal Stainless Ltd.6.Information Memorandum 2.

Jindal Stainless Ltd. 2004 Rs. The Department has levied Modvat Credit on capital goods namely Wires and Cables. Rohtak Modvat/ Cenvat credit For the period January.100 - . 19. 2004 to June.000/- 5. - Central Excise Commissioner Vs. filed an Appeal before the Commissioner (A) and the same is pending. The Department has levied Modvat Credit on capital goods namely Refractories and Refractory items. High Court. Jindal Stainless Ltd.33.Information Memorandum 4.2004 issued by Commissioner of Central Excise. 78. Gurgaon Rs. Rohtak Commission er of Central Excise. The case was held against the Department and subsequently the Dept.003/- filed Appeal before Commissioner (A) and the same is pending. - Show Cause Notice C. 1944 for its opinion vide an Order dated November 9. IV (HQ)361/Tech/Jind al/D-V/04/14357 dated 28. Commission er (Appeal). Delhi Modvat Credit Rs.12. 2000. 21. 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 Company filed a Reference Application before the High Court against the order of CESTAT on Capital goods namely: Brass Casting Articles. The Department has alleged that the company is supplying power .69. No. 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. - Central Excise Commissioner Vs.06.000/- 6.

ITAT. New Delhi (5) Jindal Seamless Tubes Limited Contingent liabilities not provided in respect of Show Cause Notice issued by Central Excise Department for raising a Demand Draft of Rs. Non-payment of dues is as follows: Name of the Statue Income tax Act. 1961 Nature of the dues Income tax demand Amount 10.719/. 1961 Nature of the dues Income tax demand Amount (Rs) 80. (6) Brahmputra Capital And Financial Services Limited Non-payment of dues is as follows: Name of the Statue Income tax Act.23. New Delhi (4) Renuka Financial Services Limited Non-payment of dues is as follows: Name of the Statue Income tax Act. New Delhi Amount . 12.101 - .748.58.161 Forum where dispute is pending CIT (Appeals). 3.636/-. 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.81.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. 1961 Nature of the dues Income Tax Demand Forum where dispute is pending 1.45.869 Forum where dispute is pending ITAT.

On appeal.915/. 1.55.085.(Previous Year 24.22 lacs.220) (8) Opellina Finance & Investment Pvt. which the Assessing Officer had treated as no longer payable. a demand of Rs. . (11) • Musuko Trading Private Limited (MTPL) Contingent liabilities not provided as on June 30. (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. The Company is in the process of filing an appeal to CIT (Appeals) against the order. Contingent liability not provided for : Arrears on fixed Cumulative Dividend on preference shares Rs. On appeal.43 lacs has arisen due to recomputation of Capital Gains considering a higher sale value by the Assessing officer. the CIT (Appeal) has deleted the addition and the matter stands decided in the Company’s favour. 41. The Company is in appeal to ITAT and the matter is pending. 1. The Company has filed an appeal to CIT(Appeals) against the order.32 lacs. The demand has arisen on account of add back of interest payable amounting to Rs.23. 10. (13) Sapphire Technologies Limited Income tax Demands For Assessment Year 2002-03. 2004 relate to Income tax demand disputed in appeal pertaining to assessment year for Rs.70 lacs.15. The Company has filed an appeal to CIT (Appeals) against the order.3. The demand has arisen on account of interest disallowance by the assessing officer. For Assessment Year 2002-03. • (10) Kamshet Investments Private Limited Income Tax Demands For Assessment Year 2002-03.62 Lacs has arisen due to disallowance of Website Development expenses incurred by the Company. a demand of Rs. the CIT (Appeals) has upheld the disallowance.15 Lacs has arisen due to recomputation of Capital Gains considering a lower purchase cost by the Assessing officer.Information Memorandum (7) Gagan Sponge Iron Private Limited Contingent liability not provided for : Arrears of Cumulative Preference Shares dividend Rs.3.15. Ltd.(Previous Year 28.92 lacs.032/-) (9) • Baltimore Trading Private Limited Contingent liabilities not provided as on June 30.750/. 81.102 - . a demand of Rs.71. 2004 related to disputed Income Tax demand for Rs. 197.

103 - . JTPCL filed an . 2004 1.) Nil Facts Karnataka Electricity Regulatory Commission (KERC) Versus Jindal Thermal Power Company Limited & Ors. of Karnataka had granted permission to JTPCL for selling power directly to industrial units and the balance to KPTCL. 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. 24. 573. No. 2000 for supply of power. Pursuant to Karnataka Electricity Reforms Act. 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. Parties Pending Before Supreme Court of India for Admission Subject of the Matter Modification of Power Purchase Agreement (PPA) Amount Involved (Rs. Outstanding Litigation Sr.30 lakhs.95 lakhs. 1 Case No.Information Memorandum (14) Jindal Thermal Power Company Limited Contingent liabilities not provided for as on March 31. net of Rs. Similarly.23 lakhs. 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. (JTPCL) The Govt.72 lakhs claimed by the Company towards rebate for prompt payment on another loan from the same Financial Institution. JPTCL entered into a Power Purchase Agreement with KPTCL in November. 1999. 10890. 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. 14449.

Karnataka High Court. No. of Income Tax & Anr. Parties Pending Before Subject of the Matter Amount Involved (Rs.Information Memorandum Sr. Case No.84 Labour Cases There are six (6) labour related matters against JVSL for issues such as dismissal from employment. An interim stay has been granted in favour of JTPCL upon depositing Rs.81 487. 1.71 crores i. income tax and other levies (excluding interest) Rs.01 149.e.7 lacs. (15) Jindal Vijayanagar Steel Limited Contingent liabilities not provided for as on March 31.) Facts appeal against this order before the Karnataka High Court. 55 lacs with the Court. JPTCL has filed this writ petition against the levy of interest as also the validity of the retrospective operation of the amendment carried out to section 115JB of the Income Tax Act. Particulars Claims against the Company not acknowledged as debts Bills discounted Disputed claims including those pending in Courts for excise & custom duties. 3. No. the Net Tax Liability (after adjusting refunds and payments) The Tax Dept. levied interest u/s 234B and 234C of the Income tax Act. Bangalore for Arguments For the Assessment Year 2001-02 & 2002-03 0. which set aside the order passed by KERC. accident at the COREX-I site in July 2002 and compensation claims aggregating to Rs. in crores 5. KPTCL has filed this appeal before the Supreme Court against the Order of the Karnataka High Court. 4. Jindal Thermal Power Company Limited (JTPCL) Versus The Deputy Comm. 2. .104 - . sales tax. 2005: Sr. Tax Matters 2.

Bellary who is the Revenue Authority.P.Dvn) & CJM. Civil Judge (Sr.17 crores The matter has been filed by banks seeking various sums from Bellary steel and others.S. Original application No. 17 / 2000 @ 92 / 2002 C. Recovery of loan with interest Amt. The petitioners have filed a case for compensation for the tamarind trees. LAC No. 30. The plaintiff is claiming 100% ex-gratia (i. 3110/2002. Bellary Steel has filed the Writ Petition to Stay Income Tax Department Notice reopening the assessment for the Assessment Year 1997-98 .. 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.105 - .Information Memorandum Provident Fund cases There are 10 (Ten) matters pending before various provident fund authorities/court regarding payment of provident fund contributions by JVSL pertaining to contract employees amounting to Rs.J. The parties have gone on appeal for enchancement of compensation against the land acquisition-Trial going on. Jindal Vijayanagar Steel Ltd. JVSL is a debtor of Bellary Steel and has been served with a garnishee notice for an amount of Rs.000) to herself.The Trial has Commenced in the court.Nos.10. Bellary High Court of Karnataka 200000 300000 O.Gouramm a/ Shri.Shankar Reddy Pending before Addl. 16 / 2000 @ 91 / 2002 Parties Uppara Hanumanthapp a & another Vs Asst.60 lacs. 3109/2002. we have paid the ex-gratia as per the orders of Asst. Bangalore 3006000+ interest High Court of Karnataka for hearing Reopening of Assessment by the Department 2. Civil Judge (Sr.Commr.4/2005 Smt. Commr & LAO.e. RoranagalluL Civil Judge (Jr. as we have paid the ex-gratia to Shri. 3111/2002 Addl. Bly & JVSL JVSL Vs Smt. 30.190/03 Writ Petition 10713/200 4 SBI & others VS Bellary Steels & Alloys Ltd & others in which JVSL is one of the respondents. Sandur 210000 Since there was a dispute between the parties. which were their during the acquisiton of landTrial going on. Rudramma.Bheeman Gouda and Sri. Bellary. 2.R. Bly & JVSL Gavisiddana Gouda Vs Asst.27 lacs. 200000 Status The parties have gone on appeal for enchancement of compensation against the land acquisition-Trial going on. JVSL is one of the respondents Debt Recvery Tribunal. Bellary Steels & Alloys Ltd Vs IT Dept.Dvn) & CJM. Commr & LAO. K. Commr.Dvn) & JMFC. Civil & Other Cases Case No. Rs. Yarabanahalli Vs The General Manager (A&LA). LAC No. Hosagerappa of Kudithini based on the orders of Asst.

365 E Kurekuppa Criminal Cases Sr. The Plaintiff has in 2002 made an application for reinstatement of the suit. Bellary Amount Involved (Rs. the limestone was found to be of a different size than the one desired by JVSL. the calcinations process in the lime calcinations plant was not to expected level.family dispute not received. S. Toranagallu 361 D(p). K. 7B(p). Parties Pending Before High Court of Karnataka. Other Ex-gratia matters/cases List of ex-land owners to whom the payment of ex-gratia is to be made.A.family dispute not received. JVSL London Court of International Arbitration for filing Pleadings Demurrage Charges $ 57. S. G. Remarks 323 C / 1 Kurekuppa Chikka Basappa. 1. 1880 of 2000 Mewar Growth Ltd. 2. 60000Ex-gratia to be paid by the co. On receipt of the consignments. No. No. The Claimant was required to supply certain quantity of limestone to JVSL under a contract.17 crores The High Court has granted stay against the notice of the IT Dept. 8350Ex-gratia to be paid Claimant expired.P. NO. The Claimant has filed this matter for the demurrage for the delivery of the limestone at the Goa Port.P. Case No. 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.Devanna 34800Ex-gratia to be paid by the co..P. No. & Ors.106 - . Sanna Thimmana Gouda Amt.. JVSL Calcutta High Court for reinstatement of the suit earlier withdrawn Shares 5.) Nil Facts The Dy.45 (for dispatch earned & interest) and $ 118. Village Vaddu Name of the Ex-land owner Dodda Thimmana Gouda. Vs.450 (for cost and interest for demurrage) and claiming Rs.) -- David James & Sons Vs.Information Memorandum Civil Suit No. 538 of 1999.90 crores (approx. Bangalore Subject M at t er Corex Accident W. 1 C(p). Bellary has initiated criminal . Due to the variance in the size of the limestone. The Plaintiff thereafter withdrew the suit in 1999. 3352 / 2002 JVSL Vs Dy.311.

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

Information Memorandum 1.18 4.90 The Tribunal has already stayed the order passed by the lower authority.150 Crore received by JVSL from JISCO.740.00 5. our Stay-cumappeal has been filed before the CESTAT. issued by the Central Excise and Customs Authorities : .05.40 The Tribunal has already stayed the order passed by the lower authority.05 SCNs-VII. Levy of differential duty on scrap: Goa Customs: Lakhs Rs. PH is awaited.363. Input credit pellets. 10.00 Based on the order passed by the Commissioner (Appeals).05.99 Appeals pending before the CESTAT / Commissioner (Appeals). on Highgrade 47.04. Bangalore.05. The final hearing will be held on 27. Duty on interest free advance of Rs. 6. 23.37 The Tribunal has already stayed the order passed by the lower authority. Final reply submitted. The final hearing is scheduled on 19. The Tribunal has already stayed the order passed by the lower authority.00 Appeal before the High Court of Karnataka has been filed. material in nature. VIII & IX: awaited Order is SCN-X not yet issued by the dept. Response is awaited from Chennai Customs. Order is awaited.04. Chennai Customs: Rs.108 - . Customs & Excise (Down Stream SBU): The status of various show cause notices / demands. The Tribunal has already stayed the order passed by the lower authority. Bangalore. 104. 2.00 Pending before the Supreme Court of India. The final hearing is scheduled on 19.00 Lakhs 8.05. 7.05. 4851.5. 3. Input credit on Corex chilling: 62.5.4. The final hearing was held on 04. Met-coke import: CG given for Anti Dumping Duty (ADD) 908. Demand of duty on refractories and lock hoppers of Corex-I.00 1103. 4920.5. DRI Case – II – Demand of additional customs duty on warehoused goods. Demand of additional interest charges on warehoused goods 9. The final hearing is scheduled on 11. PH is awaited in May’05. • • • • • SCN-I : Order is awaited SCN-IV: Order is awaited SCNs-V & VI: Final hearing is scheduled on 20. Show cause notices for demand of excise duty on sale of Corex gas supply to JTPCL / JPOCL.

7. 2. 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. 3. 2. No. Details Amt.36 Reply to show cause notice filed – Pending for hearing before the jurisdictional commissioner.03. 5.) 1.00 Appeal pending for final hearing before the Appellate Tribunal. 85.269 lacs (approx) is provided on account of new levy imposed by Karnataka Government w.78 lacs A demand was raised by the CST Dept.23 Reply to show cause notice filed – Nothing further has been heard. 1.75 Reply to show cause notice filed – Pending for hearing. 50.89 Appeal pending for hearing before the Appellate Tribunal.04 under Special Entry Tax Act-2004. 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. 4. No. Sales Tax (Down Stream SBU): Sr. Comm.2005.e. 18. 10. Description Amt. Appeal pending for hearing before the Appellate Tribunal. Appeal pending for hearing before Tribunal. Disallowance of Cenvat credit availed in respect of furnace oil used in captive power generation. 47.Information Memorandum Sl. contingent liability of Rs. Imposition of penalty under Rule 209A of the Central Excise Rules. (Rs in Lakhs) Status 1. Withdrawal of DEPB Benefit on account of difference between the declaration in shipping bill and physical examination of goods. 6.00 Appeal pending for hearing before the Commissioner (Appeals). Income Tax (Up Stream SBU): . for which the Company obtained stay from the High Court of Karnataka. Sales tax liability on account of nonsubmission of Form F in respect of branch transfer.79 Amount debited under protest.f. (Rs in Lakhs) Status 1. of CST Vs JVSL There are no cases pending in respect of Sales tax & Entry tax for the period ended 31. 0. The Forms have now been submitted and a revised order is expected.10.20. 01.109 - .89 Rs.30 lacs have been debited under protest.23 Appeal pending for hearing before the Assistant Commissioner of Sales-tax (Appeals). Further. on account of not furnishing Form C and Form F.

775 Income Tax (Down Stream SBU): Sl. No. is in respect of usance interest paid through ICICI on usance LC.110 - . interest & other expenses capitalised in books.618 The demand made by Dept. Status . Notice of penalty u/s 202(1) r. 2. Company appeal for assessment of interest under the head Business Income as against Other Sources. JVSL has replied penalty notice denying the liability relying on High court and Tribunal decisions.42 Appeals pending for hearing before the Commissioner of Income-tax (Appeals) / Appellate Tribunal.s.50. 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. Recently the tribunal decision has been reversed by High court. amount transferred to lease equalisation. 134. based on facts. Description Usance Interest in Rs. Description Amt. (Rs in Lakhs) Status 1. Total 1891. as there is no question of law is involved.41 Appeal being filed before the Commissioner of Income-tax (Appeals). unutilised modvat credit. 3.w. Status 1.99. No. interest disallowed u/s 14A and additions made to Book Profit in respect of provision for doubtful debts and advances.Information Memorandum Sr. Penalty levied u/s 271(1)(c) in respect of addition made in the assessment order passed u/s 143(3). The Income Tax Department has filed an appeal before Karnataka High Court against order of Income Tax Appellate Tribunal. Additions / Disallowances made in the assessment orders passed u/s 143(3) to Normal Income in respect of Surplus on repurchase of own debentures. 2 Appeal to Karnataka High Court against order of Income Tax Appellate Tribunal for Assessment Year 1995-96.79 Service Tax (Up Stream SBU): Sr. Payment made other Bank called by Dept. interest receivable written-off. The Tribunal has allowed. provision for diminution in value of investments etc. 201(1A) for demand of withholding tax on usance interest received from income tax department 6. reduction of depreciation as per Income-tax on slump sale. Details Value in Rs. The High Court may not frame a question for reference.96 Appeal being filed before the Commissioner of Income-tax (Appeals) 2036.97. 10. No. 10.

(16) Jindal Steel & Alloys Limited Outstanding Litigations: Excise Matters Dispute on demand of duty on Interest charged in Invoice raised by JISCO: Rs 21. Bellary and the order is expected at any time.42. : JSAL supplied some steel strips to some companies for further export. Amet Ltd.368 Replies to the notices have been submitted by the advocates on behalf of foreign parties. JSAL imported the consignment duty free under a notification.Ex.1.2089786) during implementation of the project. Austria (Rs.34 lacs. 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.2005 at C. VAI. the hearing is completed on 24.21 Lacs plus penalty of Rs 37 lacs. Service Tax Authorities have demanded service tax on consultancy services rendered by foreign parties namely. Penalty imposed by SEBI/Other Regulatory bodies • • • Fine and penalty of Rs. the final assessment is still pending.Rs 2.27 lacs levied by BSE in FY 1998-99 for belated intimation of Book Closure dates. Mangalore in respect of VAI & Amet. 500 by Excise Authorities in FY 2003-04 for wrong claim of CENVAT. C. 7.1. USA (Rs.Ex. Russia (Rs.Information Memorandum 1.19 lacs imposed by the Custom Authorities in FY 1997-98 for wrong removal of imported equipments from the bonded warehouse. 1.50 lacs.2005 at Mangalore and order is expected. has given show cause notice for payment of duty of Rs. The hearing has been completed on 17. 37.. 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. JSAL removed goods under Form AR. Penalty of Rs.975261) and Alsthom Power.111 - .. 758. Custom Matters Custom Duty – Custom dept. Bellary appeals have been filed before the Commissioner (Appeals).71216321). Penalty of Rs..4A and declared that it has not avoided input stage credit. The Final hearing is awaited. The remaining eight notices have already been decided in favour of JVSL. Based on the orders passed by the AC.81. Bank Guarantee provided to Excise Dept . Show cause notice has been received for duty demand on Interest charged in Invoice raised. In the case of Alsthom Power. The Customs Dept issued a show a show cause notice upon JSAL stating that the benefit of the notification was not available . For provisional assessment of consignment sales made.

Income Tax Matters Rs. the duty amount of Rs.36. If the bill of entry.950 No provision has been made for these amounts in this account. As against the demand for customs duty of Rs.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.60 lacs An ex. 2004. 67.19.68. the same has been reflected as a contingent liability. 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. A sum of Rs.07. 4. 3. The outstanding amounts have since been paid and with this the above show cause notice has been settled.00. which has already been filed. the Company had the following contingent liabilities: i. the Company has paid the entire duty amount of Rs.46. (17) Southern Iron And Steel Company Limited (SISCOL) As on December 31.557 Special Additional Duty: Rs. The Company has replied to the show cause notice and has also represented at the time of hearing.82.65.000.07. A stay application has been filled by JSAL against the show cause notice. 35. no credit has been taken for this refund. 67. due to non-receipt of official order.65.19. 4. The Company has subsequently received an adjudication order from the Commissioner of Customs demanding interest of Rs. 3.Rs.Y.944 and interest of Rs. 1. .Information Memorandum and demanded the payment of duty along with penalty.340 and penalty and fines of Rs. However. Litigation. Disputes etc. the Company has filed an Appeal against the Assessement Order.112 - . An amount equal to 10% i.e. 2001-02. Other litigations The Special Director Enforcement has imposed a penalty of Rs. Civil Matters .44 Lacs for non-production of documentary evidence showing import of goods against remittance of Rs 4467512 under Sec 8(3) of FEMA. However.311 Differential duty: Rs.093 which the Customs Department has asked the Company to pay is payable contingent upon the bill of entry.093 from the Customs Department. which has been filed being rejected.945 which has already been paid will also be refundable. Rs 440000 has been deposited on 5/10/2004.employee Mr.65. is accepted. The matter is pending before the Divisional Office of Central Excise. ii. which may become due to the Company. 0.07. 31.05.36. Sanjay Sharma who was sacked for irregularities in his workings has filled a suit against the Company for his reinstatement as an employee. 1352972 was paid to the Income Tax Department on basis of Assessement completed for A. 3.

3 lacs per annum.199 (without the surcharge) in twenty (20) equal installments. 2. 25. The final hearing is awaited. M/s Indo Fab Engineering ("Indo Fab") have obtained a decree of Rs. As the Company owed Rs. The Company has made provisions of Rs.113 - .30. 1956 has been filed in the Madras High Court for default in payment of Rs.00. Government of Tamilnadu for Rs.77. 697/1996) have obtained a decree and have applied to the court for garnishee order to the extent of Rs. The Company is in negotiations with the Public Works department to reach a settlement.000 to M/s Simplex Engineering. 76. Ltd and M/s Simplex Engineering.03. the Judgment Debtors in the Trichirapalli District Court. Indo Fab has taken out garnishee order/attachment order in case no.549 lacs per annum effective from 1993.30.054. 2004. The Company is representing to TWADB for charging the originally agreed royalty of Rs.844 in the execution application filed against M/s Simplex Engineering. Further. The Company had filed Writs Petitions in the Madras High Court challenging the levy of belated payment surcharge of Rs.35. However. 2003 on power generated by generator or the captive power plant. 16. 1. 2004 from the Superintendent Engineer.92 plus interest against two companies viz. 31. 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.77. OS700/96 to the tune of Rs. 94. 204 of 2004). 1998 from Executive Engineer. the Company has made a provision of Rs. the Company also requested that it be allowed to pay the peak hour charges of Rs.05. A winding up petition under Section 433 and 434 of the Companies Act.35. i. 1. 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. 11.099) being arrears of peak hour charges for the period July 2003 up to August 2004. 2003.e. 2. 3 lacs per annum and the matter is pending. However.199 (inclusive of belated payment surcharge of Rs. The Company filed a writ petition challenging the provision of The Tamil Nadu Electricity (Taxation on Consumption) Act. in another case (OS No. The Company is in the process of filing an affidavit.30.89. A demand has been made on the Company by the Public Works department.05.000. Madras High Court has dismissed the Writ Petitions.35.221 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.221 in its books of accounts. a provision of Rs.00. . 16. CP no. Mettur Dam for payment of outstanding dues of Electricity Tax for the period February 2002 to December 2003. 2004 towards payment of these dues. 1. 3.00.734. By an order dated November 02.95 crores in its books of accounts till December 31. Mettur Electricity District Circle.57.099. 54.900 has been made in the accounts for the increase in the charges. Pending final hearing of the writ petition. The Company has filed an affidavit disputing the claim in the before the Court (case no. the Madras High Court permitted the Company to pay peak hour charges of Rs. The Company as gone on appeal before the Division Bench of the Madras High Court. Writ petitions had been filed by the Company against the Tamilnadu Electricity Board in the Madras High Court contesting the levy of Electricity Tax. TWADB stating that the royalty charges have been revised to Rs.Information Memorandum The Company had received a letter dated January 24. Indo Fab.As per the said Act and the rules framed thereunder.89. Tamilnadu Electricity Board by a demand notice dated October 11.199 in ten (10) equal installments and granted an order of interim stay in respect of the demand of surcharge. 2004 has demanded a payment of Rs1. M/s Eastern Metallurgical Equipments Pvt. The Company received a letter dated October 15.90. 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.77.

29 lacs respectively. 30 each after 3 years from the date of allotment (i. 12. 329 of 2004) against the Company. The first redemption of Rs. 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.56 lacs and Rs. payable half-yearly in September and March. 2002. 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. Debentures to be redeemed in 5 annual installments of Rs. 70 were issued by the Company in March 1995 as per following terms mentioned in the prospectus: • • • • Face value of Rs. 1995 Balance amount of Rs. The Deputy Commissioner of Labour has referred the dispute to the Government of Tamilnadu for settlement as an industrial dispute. 81. Government of Tamilnadu acquired 154 acres of land for the Company and passed an award for the 154 acres. in November 2004 for default in the payment of Rs. demanding award of a labour contract to a particular group of land-dispersed persons. Employees of a labour contractor. The second installment for redemption of debenture due on May 17.Information Memorandum The Company had received a notice under section 433 and 434 of the Companies Act. 1998).114 - . Central Excise Two cases are pending before the Central Excise and Service Tax Appellate Tribunal (CESTAT) in respect of availment of MODVAT on Capital Goods for the fiscal years 199495 and 1999-2000 amounting to Rs. 40 into 2 equity shares of Rs. Labour related cases A driver in casual employment. Due to lack of liquidity. 2000. The Company has replied to the notice disputing the above claim. However. starting from May 17.356 plus interest thereon. Civil cases One of the land dispersee has filed a case in the Court of the District Munsif of Mettur (case OS no. on or after May 17. 23. The Company has filed a writ petition to quash the order of reference.65. 30 to be treated as an Optionally Convertible Debenture (OCD) with an option of conversion into 1 equity share of face value of Rs. The Company was regular in making the interest payment up to September 2000. 6 (due on May 17. 10 each at a price of Rs. 1998. 2001 could not be paid. symbolic possession has been given to the Company for 105 acres only. has filed a case in the Labour Court. interest arrears and future interest as follows: . Rescheduling of redemption of debentures Partial Option Convertible Debentures (POCDs) of face value Rs. After May 17. ID 106/2002) against the Company. have included the Company as a party to the suit as the Company is principal employer. A resolution was passed in a general meeting of debenture holders convened on February 25. debentures on which option to convert into equity is not exercised. to reschedule redemption of balance 4 installments. 70 with a compulsory conversion of Rs. the Company was not in a position to pay interest due for the period October 1. to carry interest of 15% p. engaged by an executive of the Company. 2000 onwards. 2000) was done by the Company except for the pending amount as stated below. 20 each at the time of allotment on May 17.a.e. Salem (case no. 6 each. claiming employment in the Company. claiming wage revision from the labour contractor.

However. 2003 May 17. Mr. 5. 2004 (Rs. Subsequently. N. 2000 for debentures issued by the Company has not been paid for want of surrender of debenture certificates for endorsement by the debenture holders. CC 802/02 Hg dated August 29.10. 2007 May 17. 6 Rs. 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.57. Rescheduled due date May 17.e.2004 • • Interest for the delayed payment calculated at the same rate of 15% to be paid on 31. For the period 01. In this regard.710). WCSPL filed Form 32 on November 25. K.80 per debenture to be paid in two installments as under: Rs.300 being the first installment of redemption due on May 17. 2004 Interest • Interest for the period from 01.70.f. Litigation against Directors of SISCOL Mr. interest to be paid on March 31 and September 30 each year at 15% on the principal amount outstanding with reference to the period for which it has been outstanding.52. 1.31. Jain from the list. Jain had resigned as a director from the board of WCSPL w.Information Memorandum Principal Original due date May 17.2003 and Rs. in respect of West Coast Saw Pipes Limited (WCSPL). A letter dated October 29. P.2005. 6 Reduced principal Rs. 2002 May 17. 2004 was also sent by WCSPL to SBI. Mr. 6 Rs. 12 Rs. Shanmugasundaram has received summon no. Maharashtra for intimating the change in directors. 18 Rs. 10.2003 onwards.52. 6 Nil The defaults in servicing in accordance with above terms are given below. 83. 2002 and has not been associated with the company since then.130) has not been serviced by the Company. 2002 from IX Metropolitan Magistrate Court. (Industrial Technical Consultancy Organisation of Tamilnadu Limited) (C) Associate Companies (1) South West Port Limited (SWPL) . Defaults in Servicing Debenture interest aggregating Rs. An amount of Rs. Industrial Finance Branch to WCSPL advising that the letter from WCSPL requesting removal of above name has been forwarded to ITCOT Ltd. 2005 May 17.40 per debenture on 31.550 which was due on March 31. 2004 (Rs. a letter dated October 25. 5. 2002 with Registrar of Companies. 2006 May 17.62.2003 totaling Rs.710) and December 31. advising that Mr.09.83.115 - .56.12. Chennai and has appeared before the court as a nominee director of Indian Natural Medical Products Ltd.56. 2004 was sent by SBI. 4. 2004 (Rs.09. 7. 25 lacs and above. 1. Copy of this letter was also sent to RBI.03.10. 2001 May 17. 6 Rs. October 30. Industrial Finance Branch forwarding the acknowledgement of form 32 filed with the Registrar of Companies for the resignation. He is yet to be served with a copy of charge memo for the same. Saidapet. 2008 Amount payable per debenture for redemption Rs. September 30.2000 to 30.40 per debenture on 30. Jain’s name is mentioned in the RBI list for willful default of Rs.

93 crores for delay and loss of profits due to a 45 days overrun along with interest @ 12. Venting of Liquid Products has been treated by the Dept. Moreover. the Evidence dredging work stage carried out at Ltd.Information Memorandum Contingent liabilities not provided for relates to claims made by a dredging contractor. 1.00 Outstanding Litigation Cases filed by the Excise Department Sr. No.116 - . Parties Pending Before Subject of the Matter Jaisu Shipping Arbitration at Claims for the Company Pvt. No. currently pending before arbitration.47 crores Facts SWPL is disputing the claim. SWPL has also filed a Counter Claim of Rs. Of Excise Vs. (2) Jindal Praxair Oxygen Company Private Limited (JPOCL) Contingent Liabilities not provided as on March 31.75 lacs. 155. 1.) 3. the work had also not been completed within time.96 270. as the Claimant had not dredged the entire lagoon area stipulated under the contract.00 % p. as despatch and levied duty upon . No.a. Amount Involved (Rs. 2. 1.) Facts 8 Appeals Comm. Outstanding Litigation Sr.30 6902. 2003 were: Sr. JPOCL CESTAT Claim of Duty 7.88 crores 2. Particulars Bank Guarantees Excise Duty matters disputed by the company Claims against the company not acknowledged as debt (Rs. Excise Vs. 8 Appeals Comm. in lacs) Amount 111. 3. as despatch and levied duty upon the same. JPOCL Of CESTAT Claim Duty of 12. to the extent the company does not expect any determination of liability in respect thereof amounting to Rs. Case No. 3. Parties Pending Before Subject of the Matter Amount Involved (Rs.80 crores Venting of Gases has been treated by the Dept. the Marmagoa Port Versus South West Port Ltd.

No. 2 cases 6. 1 case Comm.22 lacs 55. Case No. Of Asst. Of Excise Vs.74 crores Duty on reimbursement of expenses Duty on reimbursement of expenses Service Tax payable on Engineering Services of Praxair Inc.22 lacs 1. Comm. Comm. Claim of Duty 1. Of Excise (A) Claim of Duty 90. Technical Services and Field Service Agreements. Comm.77 lacs 11. Of Excise JPOCL Vs. Denial of MODVAT availed by JPOCL on the Capital Goods. Comm. Denial of MODVAT credit 2. Parties Pending Before Subject of the Matter Amount Involved (Rs. Of Excise Vs. Of Excise Vs. JPOCL Comm. 1 case 7. JPOCL Comm. JPOCL Comm. Venting of Liquid Products has been treated by the Dept. Denial of MODVAT availed by JPOCL on the Capital Goods (SS Plates and 25% on project imports.98 lacs Duty reimbursement expenses on of 2. Of Excise (A) and Asst. Venting of Liquid Products has been . Asst. Duty on Infrastructu re Services Duty on MTOP Duty on IT Reimburse ment 8. Parties Pending Before Subject of the Matter Amount Involved (Rs. JPOCL CESTAT Asst. Comm.06 crores 10 Appeals JPOCL Vs. 2 Appeals Comm. LOX Consumption Captive 4. Of Excise JPOCL Vs. Claim of Duty 60.48 lacs 2 cases JPOCL Vs.16 lacs Cases filed by JPOCL against the Excise Department Case No. Comm.) Facts 3. Of Central Excise (Appeals) Asst. Comm. Of Excise Comm. Comm.51 crores 116 of 2002 JPOCL Vs.) Facts 4 cases JPOCL Vs. Comm. Comm..93 lacs 5. Of Excise Vs. Of Excise (A) Duty on Infrastructure Services Duty on Infrastructure Services Service Tax 1. Comm.74 lacs 2 cases JPOCL Vs.87 crores the same. JPOCL CESTAT Claim of Duty 1.117 - . Of Excise Comm. Comm. Denial of MODVAT availed by JPOCL on the Capital Goods to the extent of 25% on project imports. Of Excise Asst. as despatch and levied duty upon the same. Comm. Of Excise Comm. Of Excise Vs.Information Memorandum Sr. Comm. 4 cases CESTAT Claim of Duty on Captive Consumption 51.

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

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

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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7(h) of the Guidelines have not been disclosed. The Notes to the Statement of “Assets & Liabilities” and ‘Profit & Loss Account’ are enclosed as Annexure IV. 3.2. For Shah Gupta & Co. 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. 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.10. The Company has not taken unsecured loan. The summary of significant accounting policies adopted by the Company is enclosed as Annexure III to this report. 6.Information Memorandum 2. The Company has not declared dividends during any financial years covered in this report.10. We report that in our opinion. Choksi Partner M. Chartered Accountants Vipul K. 7. 5. the Statement of Capitalisation as set out in Annexure VI which has been prepared based on audited information. they have been correctly computed from the figures stated in the Statement of Assets and Liabilities and Profit and Loss as referred above.123 - . 2005.2. Disclosure of the Tax Shelter Statement as required by paragraph 6. 4. No. approved by the Company and annexed to this report. Hence the information regarding analysis of outstanding unsecured loans in accordance with the paragraph 6.7 (i) of the Guidelines is given in note 7 of Annexure IV. 37606 Place : Mumbai Date : 28th April 2005 .

135.87) (4. Reserves Less Revaluation Reserve Reserves (Net of Revaluation Reserves) Less: Misc.04 B C D 4.74) 53.52 0.64) 9.12 9.35 6.23) (3.00 (0.43 13.91 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 .59 10. 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.32 0.28 1. 2005 to Shareholders of JISCO (erstwhile) in the ratio of 1 equity share of Rs.43 (3.13 10. 31. .791.06 52.70) 4.98 14.19 1.96 52.02 0.43 0. 2003 2004 Rupees in Lacs 8.35 43.10 each for every 4 equity shares held by them in JISCO (erstwhile).23 0.57 0.22 6.32 4.28 2005 for 6.96 Lacs on account of allotment of Equity shares on 16th March.121.23 (0. Share Capital (see note) 2.87) (8.1099.217.00 0.29 53.08 2.109.net Current Assets.121.85 9.28 8.10) 344.217.088.59 0. Expenditure Networth Note: Share Capital includes an amount of Rs.30 F G Net worth Represented by 1.00 (4.124 - .10) 10.28 E 0.12 0.05 13.06 (13.29 14.20 1.02 4.30 5.78 0.

50 0.Current Add: Deferred Tax Assets Net Profit after Tax * Since the said company is an NBFC and not manufacturing company there is no sales.42 (5.21 0.33 5.66 560.Information Memorandum Annexure II STATEMENT OF PROFITS AND LOSSESS 2002 Year ended March.21 0.76 4.33 0.42 5.22 27.90 532.48 - - 0.33 504.50 0.50 0. 31. 2003 2004 Rupees in Lacs 2.50 0.06 0.18 0.15 0. Break up of other income is : Dividend Interest Consultancy Fees Profit on sale of Investments - 0.71 36.29 0.37 529.66 .125 - .66 15.09) (5.42 560.005 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 .53 19.65 1.34 12.23 0.34 0.09) 560.

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

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

128 - . 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. referred to as Investment division has been transferred to the Company with effect from 1-4-2003 (Appointed date).Information Memorandum Annexure IV NOTES ON FINANCIAL STATEMENTS 1. 2005 respectively.824 .10 each for every 4 equity shares held by them in JISCO (erstwhile). which is allowed as per Accounting Standard (AS) 14 “Accounting for Amalgamations” issued by the Institute of Chartered Accountant of India. Accordingly. JISCO (erstwhile) had carried the Investment division in “trust” on behalf of the Company. the Company has issued 10. Ltd (JISCO)(erstwhile).250 5.923.493 109. Rupees Add : Income of Investment division of erstwhile JISCO Less : Expenses of Investment division of erstwhile JISCO Less : Provision for Tax – AY 2004-05 5.625 fully paid up equity shares of Rs.334 865.155.10 each to the Shareholders of JISCO (erstwhile) in the ratio of 1 equity share of Rs. The Company has incorporated investments and Loans & Advances at fair value as determined by the valuer. b Pursuant to the Scheme.996. a.155. 2003 in accordance with the Scheme.749. c Rupees Investments & Loans & Advances Less : Amount of Equity shares issued to the shareholders erstwhile JISCO Excess Credited to General Reserve of 5. along with certain loans & advances. the Investment Portfolio of Jindal Iron & Steel Co.510 545. Pursuant to the Scheme of Arrangement and Amalgamation (Scheme) sanctioned by Hon’ble High Courts of Bombay and Karnataka on 3rd September.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.334.265. 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.5. as disclosed in Schedule B.243 The aforesaid difference has been credited to General Reserve as per the ‘Scheme’ approved by Hon’ble High Courts of Bombay and Karnataka.753. The difference of Rs. 2004 & 20th January.999.753. d From 1st April. 2003.000 3.

7.550 11. 2005 and the profit and Loss Account and Cash Flow Statement for the year ended 31st March.2005 Rupees (a) Expenses covered by Section 35 D of the Income Tax Act. 1993. As company’s business activities falls within a single primary business segment the disclosure requirements of AS-17 in this regard are not applicable. Remuneration to the Auditors: 2004-2005 Rupees Audit Fees Tax Audit Other services Out of pocket expenses (including Service Tax) 6.129 - . In the opinion of the Board. 33. These activities mainly have similar risks and returns.Information Memorandum e In view of aforesaid Scheme with effect from 1st April. Segment Reporting Based on guiding principles given in Accounting Standard . issued by the Institute of Chartered Accountants of India. 3.03.101/. Deferred Tax Liability : As at 31.37.713 2003-2004 Rupees 3780 - 5. at least equal to the amount at which they are stated. 1934. 2005 include the figures of JISCO (erstwhile) from the said date.020 36. 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. 1. the Company has: (i) Adjusted net Deferred Tax Liability of Rs. The Company has become a Non Banking Finance Company (NBFC) as per Reserve Bank of India Act. 2.499 . 4. The Company is in the process of completing necessary formalities for registration. Loans and Advances have a value on realization in the ordinary course of business. there are no amounts due to small scale and/or ancillary industrial suppliers on account of principal and/or interest as at the close of the year. In compliance with the Accounting Standard 22 (AS 22) relating to “Accounting for Taxes on Income” issued by the Institute of Chartered Accountants of India.as at 31st March 2004 against General Reserve and (ii) Recorded Deferred Tax Assets of Rs. 1961 88.for the current year. Net Deferred Tax Assets comprises: the 27. Current Assets.408/.17 ‘Segment Reporting’. 2003 (Appointed date) the Balance Sheet as at 31st March. the Company’s primary business segment is Investing & Financing. Hence. the figures of the current year are not comparable with those of the previous year.

000 18. 2.145 (a) Expenses covered by section 35 DD of the Income Tax Act.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: 1.500 Nil 1.983 Previous Year Referred to In (a)(ii) above (Rupees) 17. Related Party Disclosures. 1961 2.130 - .000. Details relating to investments in the above related parties have been disclosed in Schedule C "Investments".629. .922 Nil Nil Previous Year Referred to in (a) (i) above (Rupees) Nil 1. “Related Party Disclosures”. Related party relationship is as identified by the management and relied upon by the auditors.Information Memorandum (b) Depreciation Deferred Tax Assets : 23. (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. Ltd. Computation of Basic and Diluted Earnings per share: 381.15. 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. Sun Investments Pvt. as required by Accounting Standard 18.337 8.900 9.167.000.

099. Previous year figures have been regrouped/ rearranged wherever necessary to confirm with current year’s presentation. 12.77 2003-2004 Rupees (509. 10/. 11.Information Memorandum Particulars 2004-2005 Rupees 52. There are no internal or external indications existing on the Balance Sheet date indicating that an asset is impaired.09) Profit (loss) after Tax (As per Profit and Loss Account) Total Number of shares Earnings Per Share (Basic and Diluted) (Face Value – Rs. The additional Information pursuant to Part II of Schedule VI to the Companies Act. Accordingly there is no impairment loss as mentioned in the Accounting Standard – 28 (AS-28) “Impairment Loss” issued by the Institute of Chartered Accountants of India.204) 100.000 (5. 1956 are either Nil or Not Applicable.948.131 - . .) 10.per share) (Rs. not comparable with that of previous year.618 11.625 4. Current year’s figures include the figures of investment business of JISCO (erstwhile) and hence.

000 10 936.473 (509.204) 52.728.000 9. of Shares EPS 2 Return on Net Worth (a) (b) (a)/(b) 50.625 4.684 936.684 100.099.132 - .473 100.618 11.23 (509.000 (3.45 .36 (309.625 479.000 22.77 Net Profit after Tax Net Worth (a) (b) 500.000 0.264 RONW 3 Net Asset Value (a)*100/(b) 0 2. 31 2003 2004 2005 Net Profit after Tax No.321.728.000 (5.948.000 50.09) 52.618 (309.995 Net Assets No. of Shares NAV (a) (b) (a)/(b) 500.Information Memorandum Annexure V Accounting Ratios 2002 1 Earning Per Share For the year Ended on March.321.948.09) 11.422 - 0.099.205) 5.264 100.000 0 22.204) 100.205) 5.

231.133 - .121. total Debt / Networth and Debt/ Equity ratio is not applicable.06 - NOTE: Since there are no Long Term and short term Debt.87) 5.00 52.06 53. .110.00 (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 10.13 1.

and until he does so. There shall be paid to the Company in respect of the transfer or transmission of any number of shares such fee. matters to be decided at board meetings. A person entitled to a share by transmission shall. the other clauses including inter alia relating to restriction on transfer of shares.Information Memorandum MAIN PROVISIONS OF THE ARTICLES OF ASSOCIATION OF JSWHL Following are the main clauses of the Articles of Association of JSWHL. 66. 62. lunacy. if any. insolvent or person of unsound mind. 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. unless such executors or administrators or legal representatives shall have first obtained Probate or Letter of Administration or Succession Certificate. 65. can be perused from the Articles of Association which is available for inspection as mentioned at the end of this Information Memorandum. No share shall in any circumstances be transferred to any infant. he shall not be freed from any liability in respect of the shares. Subject to the provisions of the Act and Article 57 and 58 any person becoming entitled to shares in consequence of the death. bankruptcy or insolvency of any member. 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. 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. and the Company shall not be bound to recognise such executors or administrators or holders or successors or the legal representatives. from a duly constituted Court in the Union of India. In addition to these clauses. the survivor or survivors shall be the only persons recognised by the Company as having any title to or interest in such share. 63.134 - . 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. that if such person shall elect to have his nominee registered. may. any dividend or other moneys payable in respect of the shares. etc. be entitled to receive and may give a discharge for. Transmission of Shares 60. the Board may dispense with production of Probate or Letters of Administration or Succession Certificate. 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. 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. as the Directors may require. subject to the right of the Directors to retain such dividends or money as hereinafter provided. 64. 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. provided that in any case where the Board in its absolute discretion thinks fit. . with the consent of the Board (which it shall not be under any obligation to give). as the case may be. as a member. 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. or by any lawful means other than by a transfer in accordance with these Articles.

in any book of the Company. 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. 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 first Directors of the Company shall be : 1) Mr. which may occur as a result of any such Director or Directors ceasing to hold that office for any reason whatever. State or Local. 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. or referred thereto. but the Company shall nevertheless be at liberty to record and attend to any such notice and give effect thereto if the Board shall so think fit. as Directors on the Board for such period and upon such conditions as may be mentioned in the agreement and that such Director or Directors may not be liable to retire by rotation nor be required to hold any qualification shares. 1) Until otherwise determined by a General Meeting of the Company and subject to the provisions of Section 252 of the Act. title or interest or notice prohibiting registration of such transfer. the Directors shall have. 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. the Board shall have power at any time and from time to time to appoint any other qualified person to be an additional Director. title or interest to or in the said shares. nominate them and the appointer may appoint another or other in his or their place and also fill in vacancy. but so that the total number of Directors shall not at any time exceed the maximum fixed under Article 112. Board of Directors 116. 2) 117. though it may have been entered or referred to in some book of the Company. 264 and 284 (6) of the Act. and may have such notice. 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. subject to the provisions of Section 255 of the Act. 261 and 264 of the Act. 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. 120.135 - . notwithstanding that the Company may have had notice of such equitable right. Subject to the provisions of Section 260. A Director of the company shall not be bound to hold any qualification shares. who are acceptable to the Board. Sajjan Jindal 2) Mr. the number of Directors (excluding Debenture and Alternate Directors) shall not be less than three nor more than twelve.Information Memorandum person having or claiming any equitable right. Subject to the provisions of Section 261. 121. Saibal Kanti Gupta Whenever Directors enter into a contract with any Government. 122. The Directors may also agree that any such Director or Directors may be removed from time to time by the appointer entitled to appoint. . Any such additional Director shall hold office only up to the date of next Annual General Meeting. Central. Nirmal Kumar Jain 3) Dr.

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

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

2005.Information Memorandum DECLARATION All statements made in this Information Memorandum are true and correct. Date : April 28. N.138 - . . Patel Jt. Managing Director & CEO Place : Mumbai. SIGNED ON BEHALF OF THE BOARD OF DIRECTORS For Jindal South West Holdings Limited K.

including instructions and clarifications issued by SEBI from time to time BSE.T. 1956. NSE & DSE ********* Stock Exchanges : . Mumbai Compounded annual growth rate Central Depository Services (India) Limited The Companies Act..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 The banks which is the banker to JSWHL Board for Industrial and Financial Reconstruction The Board of Directors of JSWHL The Stock Exchange. and where specified for other Companies. as amended from time to time SEBI (Guidelines for Disclosure and Investor Protection) 2000 issued by SEBI effective from January 27. Net Asset Value National Securities Depository Limited The National Stock Exchange of India Limited Reserve Bank of India Jindal Mansion. 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. as amended from time to time. M/s.Dr. as amended. 1992. Chartered Accountants. 1961. 5A . Shah Gupta & Co. G. Mumbai The Securities Contract (Regulation) Rules.139 - . 1957 The Securities and Exchange Board of India constituted under the SEBI Act Securities and Exchange Board of India Act. Maharashtra. 2000. Deshmukh Marg. Mumbai – 400 026 The Registrar of Companies. except as stated otherwise Jindal Iron & Steel Company Limited Jindal South West Holdings Limited Jindal Vijayanagar Steel Limited The Memorandum of Association of JSWHL. as amended from time to time The Delhi Stock Exchange Association Limited Earnings per Equity Share Equity shares of the Company of Rs.Information Memorandum DEFINITONS & ABBREVIATIONS Term AS Articles / Articles of Association Auditors Banker(s) to the Company BIFR Board of Directors / Board / Directors BSE CAGR CDSL Companies Act DSE EPS Equity Shares Financial year / Fiscal / FY FIPB HUF Information Memorandum I.

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