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.

-1-

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

-2-

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

N. 2000. 8. 1st April. 2005 has granted relaxation from the applicability of Rule 19(2)(b) of the Securities Contract Regulation (Rules). Marine Drive. Further.1 (iv) – (viii). CFD/DIL/SR/38545/2005 dated April 15. instrument. Such listing and admission for trading is not automatic and will be subject to fulfillment by JSWHL of listing criteria of BSE. Shailesh Haribhakti Authority for Listing The Honourable High Courts of Judicature at Bombay and of Karnataka vide their Orders dated September 3. Subsequently. NSE and DSE at the time of the application by JSWHL seeking listing. 11-132705 – registered with : The Registrar of Companies. Managing Director & CEO Mr.5.e. SEBI. if any w. N. The aforesaid Order of the Honourable High Court of Judicature at Bombay was filed by JSWHL with the Registrar of Companies (“ROC”). S. without any further act.e. NSE and DSE for such issues and also subject to such other terms and conditions as may be prescribed by BSE. 1956. 2004 and the Order of the Honourable High Court of Karnataka was filed by JSWHL with the ROC. Mumbai (“BSE”). the Equity Shares of JSWHL issued pursuant to the Scheme as well as existing shares of JSWHL issued for the purpose of incorporation shall. Mumbai – 400 026. subject to subsisting of charges and pledges.3. Jt. Mumbai on November 22. Patel. 2005 respectively. Registration No. be listed and admitted to trading on The Stock Exchange. G.3. Sajjan Jindal. Board of Directors 1) 2) 3) 4) 5) 6) Mr. In accordance with the said Scheme. 1957 (SCRR) subject to JSWHL complying with the provisions of Clauses 8. 2004 and January 20. vide its letter no. Atul Desai Mr. Chairman Mr. above relaxation is also subject to JSWHL confirming the following: - -5- . Jindal Vijayanagar Steel Limited (“JVSL”) and their respective members and creditors (the “Scheme”) whereby the Investment Division of JISCO. 5A – Dr. have approved the Scheme of Arrangement & Amalgamation between Jindal Iron & Steel Company Limited (“JISCO”).5. 2003 (i. Jindal South West Holdings Limited (“JSWHL”). Mumbai on February 4.3 and 8. Maharashtra. pursuant to the provisions of Section 391-394 of the Companies Act.3. K. Maharashtra. Everest. Mumbai. title and interest of JISCO therein. K. Jain Dr. stands transferred to and vested in JSWHL so as to vest in the JSWHL all the rights. Gupta Mr. Maharashtra. 2005.5. 100. which is the Effective Date of the Scheme. Mumbai – 400 002. the Appointed Date under the Scheme). Deshmukh Marg.4 of SEBI (DIP) Guidelines.f. or deed. the National Stock Exchange of India Limited (“NSE”) and The Delhi Stock Exchange Association Limited (“DSE”). K.Information Memorandum GENERAL INFORMATION Name & Registered office of the Company Jindal South West Holdings Limited Jindal Mansion. subject to applicable regulations.

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. or warrant that this Company’s securities will be listed or will continue to be listed on the BSE. 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. 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. The BSE does not in any manner: warrant. its promoters. namely. Jindal South West Holdings Limited nor its promoters/directors are debarred by SEBI from accessing the capital market. its directors.3. Prohibition by SEBI The Company. namely. Jindal Iron & Steel Company Limited as defined in SEBI (Substantial Acquisition of Shares & Takeovers) Regulations. namely.5. a copy of this Information Memorandum has been submitted to BSE. namely.1 (iii) of SEBI (DIP) Guidelines. 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. Disclaimer Clause of BSE As required. Jindal South West Holdings Limited b) Neither the unlisted transferee Company. JSWHL will comply with the aforesaid conditions stipulated by SEBI. 2000 excludes the following: i) Promoters and persons acting in concert of pre-arrangement listed transferor company. 1997. namely.5. 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. certify or endorse the correctness or completeness of any of the contents of this Information Memorandum.3. JSWHL has submitted its Information Memorandum.5.4 of SEBI (DIP) Guidelines. The company has filed applications with BSE for listing of above Equity Shares. JSWHL will publish an advertisement in the newspapers containing its details in line with the details required as per clause 8. or -6- .4 of SEBI (DIP) Guidelines.3. JSWHL has made the said Information Memorandum available on its website. ii) Any shareholder of pre-scheme unlisted transferee company. the “Public Holders” referred in clause 8. NSE and DSE for making the said Information Memorandum available to public through their websites. Jindal Iron & Steel Company Limited.

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

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.

-8-

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%

-9-

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

- 10 -

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

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

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

JSWHL also provides consultancy services and acts as advisors inter alia in matters and problems relating to finance. Public or local authorities. Jindal Steel & Power Limited. . associations (incorporated or unincorporated). manufacture / production in all types of industries to and for institution. bodies. supervision. as are usually rendered by consultants for and in connection with the management. Jindal Strips Limited and other companies. JSWHL a Company is mainly engaged in the investment activities by investing in shares. Trustees etc. commencement or expansion. departments and services of the Govt. Public bodies / authorities. HRD. 2004 and January 20.14 - . cost control. research. local bodies in India or abroad. development. organization. management. Jindal Stainless Limited. marketing. publicity. stocks or other securities of Companies. 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. technical know how planning. design etc.Information Memorandum BUSINESS JSWHL is an Investment Company and presently holds investments in equity shares of Jindal Group companies mainly in listed entities like Jindal Vijayanagar Steel Limited.. concerns. 2005 respectively.

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

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

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

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

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

Shailesh Haribhakti Shailesh Haribhakti is a senior Chartered Accountant and Managing Partner of Haribhakti & Co. some of which are given below: • • • • • • • President – Indian Merchants’ Chamber 2003-04 Chairman . 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.04. Managing Director & CEO. medical insurance. Managing Director & CEO is eligible to the following compensation: 1.R. having a presence of more than five decades in the areas of accounting. 2. medical reimbursement. Performance Incentive. Further. He writes prolifically on the web and in various newspapers and magazines. Mr. Period : Five years from 28. ESOPs & Privately Placed Equity and on the Naresh Chandra Committee on Corporate Governance. Verma Committee on Sweat Equity. house maintenance allowance together with reimbursement of expenses or allowances for utilities such as electricity. K. He served as the President of Indian Merchants’ Chamber for 2003. Patel who is the Jt. Patel shall not exceed a maximum ceiling of 125% of his Basic Salary. and CEO of Haribhakti Group. within the overall ceiling as mentioned above has been fixed as under: - (b) . He is on the Board of some reputed listed Companies also. 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. He has been with the Group since 1978. N. 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.04 and as Chairman – Corporate Governance Committee of ASSOCHAM in 2001. Managing Director & CEO will be so fixed by the Board of Directors from time to time that the Salary.. financial and management services in India. Patel setting out the detailed terms and conditions of his appointment as Jt. Bonus. N. Mr. Perquisites and allowances shall not exceed overall ceiling of Rs. Managing Director & CEO of JSWHL. club fees and leave travel concession for himself and his family.2005 to 27. furnishings and repairs. This draft agreement will be available for inspection at the registered office of the Company. His contribution to the corporate world and society comes through the leadership roles. 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. Accounting Standards. Haribhakti has made vast contributions to the corporate world and society through various leadership roles.20 - . K. Remuneration : (a) The remuneration of the Jt. 6 lacs per month. Currently the remuneration of Jt.04.2010.Information Memorandum Mr. Compensation of Managing Directors / Whole time Directors An agreement being executed between JSWHL and Mr.

Managing Director & CEO shall be paid remuneration by way of salary and perquisites as specified above. 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.000/. Patel Non-Executive Jt. perquisites shall be evaluated as per Income-tax Rules. 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.70. Car & Telephone Provision for use of the Company’s car for official duties and telephone at residence (including payment for local calls and long distance official calls) shall not be included in the computation of perquisites for the purpose of calculating the said ceiling. Details are as follows: Board of Directors Category Audit Committee --Member of Investors/Shareholders Grievance Committee --- Mr. Provident Fund.21 - . 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. Jt. 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. The following perquisites shall not be included in the computation of the ceiling on remuneration specified above: a) Contribution to Provident Fund. 1961. Superannuation etc. and c) Encashment of leave at the end of the tenure. JSWHL has already appointed independent directors to its Board and has also constituted the Audit Committee. Patel. 1. K. Sajjan Jindal Mr. subject to the approval of Central Government. Sitting Fees Mr. wherever applicable. 3. the Jt. Managing Director & CEO Remuneration Committee --- . N. 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. if required. For the purposes of calculating the above ceiling. 4. b) Gratuity as per rules of the Company (which shall not exceed one half month’s Salary for each completed year of Service).Information Memorandum Basic Salary : Rs. In addition. 5. In the event of loss or inadequacy of profits in any financial year.

Patel is Jt. Atul Desai Mr. K. Sajjan Jindal Mr. K. Jain Dr.760 2. 2005. Gupta Mr.e. Jain Dr. Mr. K.Information Memorandum Mr. Mr. K. Legal and Administration work of the Company. Managing Director & CEO. S. Patel. Manoj Kumar Mohta has been appointed as Deputy General Manager. N. K.2005 31. K. who has been appointed as the Jt. N. Change in Board of Directors of JSWHL since its inception Name Mr. Mr. Atul Desai Mr. Patel has been appointed as Jt. N. Atul Desai Mr. N. Sajjan Jindal Mr. Managing Director & CEO of the Company for a period of 5 (five) years w.N. N. 2005 (i. Managing Director & CEO Appointed as Director Appointed as Director Appointed as Additional Director Appointed as Additional Director Management Organization Structure of JSWHL Mr. K.f. S. Term of Office All the directors are liable to retire by rotation except Mr. Gupta Mr. the directors of JSWHL have no other interest in JSWHL. Patel.01. K.900 246 --- Mr. Mohta is responsible for Management Services Division and reports to Mr. Shareholding of Directors Name of Director No of Shares of JISCO as on February 25. Managing Director & CEO. Patel.2005 Date of Resignation ------Reasons Appointed as Director Appointed as Jt. K.e. K. reporting to Mr. Shailesh Haribhakti Interest of the Directors Mr. 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. Other than as stated above and the respective shareholding of the directors mentioned above. April 28. 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.22 - .189 550 4. K. the record date) 12. N. Gupta Mr. Managing Director & CEO w. Virendra Samani is appointed as Company Secretary and is looking after the Secretarial.200 19.04. Jt. S.600 984 --No of Shares of JSWHL allotted as per the Scheme 3.2005 Since incorporation Since incorporation 31.01. Patel Mr.e. Shailesh Haribhakti Date of Appointment Since incorporation 28. K. Jain Dr. N. N. Patel Mr.f April 28. .

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

The board of directors of the company comprises Mr. of shares % of shareholding 133. Jindal and was incorporated on November 18.248 504. Mr.24 - .683 78.395 2. Mr.: 44304/Hissar Passport No. (A) Promoter Companies (1) Jindal Strips Limited (JSL) The company was promoted by Late Shri O.E.80 1. Indore and a member of TTD Development Advisory council and Bombay chapter of the Young President Organization. Ratan Jindal.861 206. aged 46 years. He is also the director of Indian Institute of Management.P. Garg and Mr. Sajjan Jindal.83 2.) Driving License No.01 1.158 92. No. R. Jindal is the director in Jindal Aluminum Limited and South West Port Limited. He was instrumental in setting up JVSL.22 4. Mr. H. A.59 9. He is also the Chairman of Jindal Thermal Power Company Limited and Twenty-First Century Printers Limited. Subsequent to restructuring. iv Everplus Securities & Finance Ltd v Mansarover Investments Ltd. 1975. the company is now a Non Banking Finance Company.Information Memorandum PROMOTERS/PRMOTER GROUP COMPANIES AND ASSOCIATED COMPANIES Educational Qualification: B. is Chairman of the Company. 1970 as Jindal Strips Private Limited. Rajinder Parkash. The name of the company was changed to Jindal Strips Limited on May 5. Promoter Group Companies and Associate Companies as given below. Category No. Mr. Jindal is the Vice Chairman and Managing Director of the merged entity. 2005 is as follows: Sr. vi Nalwa Investments Ltd. ii Sun Investments Ltd iii Colorado Trading Co. Ltd. Shareholding Pattern The shareholding pattern as on March 31. Mr.: F 0256563 Mr. (Mech.53 . Mrs. mainly dealing and investing in securities. Promoter’s holding 1 Promoters: Indian Promoters: i Gagan Trading Co.738 112. He has more than twenty years experience in the industry.V. The group companies have been classified into the Promoter Companies. vii Stainless Investments Ltd.794 62. He was the Chairman and Managing Director of erstwhile JISCO and the Managing Director of JVSL. Rakesh Garg.G. Mishra.20 1. Deepika Jindal. Consequent to the merger of the two companies. Ltd.

23 2.199 5.Equity Reserves and surplus (excluding revaluation reserves) Sales (including Excise duty) Interest and Dividend Income Other Income PAT Dividend (%) EPS (Rs.70 60% 5.163 0.46 11.03 0. b. Sub-total (3) Others: Private Corporate Bodies Indian Public i.393 141.63 2. in crores) is given below: Share capital .51 5.65 40% 15.22 2002-03 5.729 311.41 1484.000 55.64 3.Information Memorandum 2 B.08 5.751 312.00 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) 54.923 268.268 109.91 446.00 Financial performance The financial performance of the company (Rs.48 6. Institutions / Non.565 125.246.12 1. b.26 81.24 2001-02 18.) 2003-04 5.611 54 2.279.145 257.565 30.76 9.08 23./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.62 1.45 6.74 44.994 488.61 31. 3 a.136. 4 a.07 5. c.00 55.02 0.00 1.19) (86.Ltd xii Saw Pipes Ltd. Insurance Companies (Central/ State Govt. Financial Institutions.687 185 2.229 120.Government Institutions) FIIs.26 12.205.05) 495.437 0.361 1.01 2.06 2.59 778 32.35 0. viii Manjula Finances Ltd ix Vrindavan Services P.) BV (Rs.419 2.25 - .35 0.38 100.13 249.Ltd x Hexa Securities & Finance Co.856. d.Ltd xi Jindal Equipment Leas & Con.66 .07 8.611 274.44 (44.99 253.13 293.56 2. c. Ser.780 186.964 1.

The average time taken by the company for redressal of complaints varies from 7 to 20 days. in lacs) is given below: No. The company has engaged the services of a Registrar & Transfer Agent to handle the grievances of the investors. Ratan Jindal Mr.00 360. depending on the type of complaint.00 252.) 197.00 294.00 250.00 292.0001 0. Sajjan Jindal Mr.25 230.00 196.9509 13. The Board of directors of the company comprises Mr.0488 100. 2005) on BSE was Rs. Sushil Bhuwalka Jindal Strips Ltd Jindal Steel & Power Ltd Total Financial performance The financial performance of the company (Rs. Rajendar Gupta and Mr.00 282.90 242.0000 .00 The market price of shares of the company (as on March 31.00 Low (Rs.50 251. Particulars of investor complaints during the period April 2004 to March 2005 are as follows: Complaints Received: 540. Mahesh Jain.80 330.90 243.00 310.90 High (Rs.) 210. It is registered with RBI as Non Banking Finance Company and main business is to deal in securities. Prithviraj Jindal Mr.15 and the market capitalization was Rs. Resolved/Replied: 520 and Pending:20.00 239.0001 86. Naveen Jindal Mr. 1998.) 208.00 268. Mr.30 244.0001 0.26 - .00 218.05 222.) 197.10 216.60 365. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Mr.00 BSE Low (Rs. (2) Jindal Holdings Limited The Company was incorporated on February 6.30 284. Om Prakash Jindal Mr.0001 0.08 crores. 257.Information Memorandum Stock Market Data Month September 04 October 04 November 04 December 04 January 05 February 05 March 05 NSE High (Rs.00 245. Madan Lal Gupta. 1990 in the State of Maharashtra and thereafter the registered Office of the company was shifted to State of Haryana on November 9.10 197.00 250. 132. of Shares 10 10 15 10 10 10 16085755 2414000 18499820 % of shareholding 0.0001 0.0001 0.

112.256.658.31 14.420.420.250 17.000 1.000 2. Jindal Strips Ltd Jindal Equipment Leasing & Cons.84 3.00 (excluding . Mahender Kr.581. 1982 as a Private Limited Company and converted into a public limited company.70) Nil 32.44 14.74 18.420.242.717. of Shares 1.61 12.433. The Board of directors of the company comprises Mr. The Company is engaged in the business of finance.60 FY01-02 167.732.98 5699.) FY03-04 167.627.525 16. The Company was registered with Reserve Bank of India as Non Banking Financial Company (not accepting public deposit) on 12th March 1998.05 17.200 2.63) Nil 33.44 14.82 0.420.01 (216.000 47.) BV (Rs.000 2.67 FY01-02 1849.12 24. Ltd.000 551.) BV (Rs.21 0.12 3.3 FY02-03 167. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Mansarover Investments Ltd Ever plus Securities & Finance Ltd Jindal Steel & Power Ltd. 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.98 5699.983.92) NIL (0. Investment and finance related consultancy services.758.05 FY02-03 1849. Sharma.250 4. Estrella Investment Co. Mr. P.) FY03-04 1849.13 (77. D.457.08 (3) Stainless Investments Limited This Company was incorporated on September 15.06 441.28 0.750 181.08 NIL 0.000 2.750 181.450 52.44 14.175 % of shareholding 6. Services Ltd M/s R.000 1.K.750 181.000 160.10 (10.29 100.000 2.433.040.581.025.927.95 7.320.72 NIL 0. Goel.250 27.27 - .12 83.954. Heston Securities Ltd. Investments Beaufield Holdings Ltd Templar Investment Ltd.433.Information Memorandum Particulars Share capital Reserves and surplus (excluding revaluation reserves) Turnover /receipts Profit /(loss) after tax Dividend (%) EPS (Rs.37 (298. Investment M/s R.98 5699.08) Nil 34.000 640. Sunil Mittal and Mr.44 13.62) 17.581.55 No.477.12 5.41 6. P. Pental Holding Ltd.

15 12.000 13.726 21.44 100.816. Services Ltd Jindal Strips Ltd. Templar Investment Ltd. Beaufield Holding Ltd.442 NIL 1.5 20.Information Memorandum (4) Mansarover Investments Limited Mansarover Investments Ltd was incorporated on June 8. K.01 13. Heston Securities Ltd.517.000 1. 1981 as a Private Limited Company and subsequently became a public limited company.01 13. Manjula Finances Ltd.538.383 (22. . K. Jindal Holdings Ltd. Mr.000 1. D.953.000 35. 1998.816. 1986 the name of the company was changed to Jindal Equipment Leasing & Consultancy Services Limited .000 1. With effect from August 7.00 (excluding (5) Jindal Equipment Leasing and Consultancy Services Limited The Company was incorporated on March 29.The Company is registered with RBI to carry on the business of Non Banking Financial Company.823.54 1.000 218.60 1.17 FY01-02 1. Ltd.000 1.0023 NIL 0.43 2.01 13. Ltd.831) NIL 1.828. The Company was registered as NBFC with Reserve Bank of India (not accepting public deposit) on September 25.9 No.597.038.39.000 340. The Company is engaged in the business of finance.856.000 1.783 2. Board of directors of the company comprises Mrs. D.816. 1984 as Jindal Equipment And Finance Limited. Investment and finance related consultancy services.800 223.000 218.17 7. S. Ratan Jindal.816.000 15. Ashok Goel and Mr.823.816.500 199.) FY03-04 1. Goel. Vrindavan Services Pvt.68 FY02-03 1.500 912.538.000 13. The Board of directors of the company comprises Mr. Shallu Jindal.538.697. Mr.000 218. S.28 - .83 6.000 1. Pental Holding Ltd. Estrella Investment Co.800 % of shareholding 0.500 300.22 19.01 2. of Shares 115.) BV (Rs.500 10.39.01 13. Jindal Equipment Leasing & Cons.823.78 13.39. 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. Goel.61 18. Stainless Investments Ltd. Saxena and Mr.85. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Abhinandan Investments Ltd.124.

327.531.700 % of shareholding 3.26 40. Investment and finance related consultancy services. Renuka Financial Services Ltd Jindal Holdings Ltd.750.000. Ltd.43 100.000 19.000 65.127. 1981 and is engaged in the business of finance.95 3. Musuko Trading P. S.531.Information Memorandum Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Abhinandan Investments Ltd. On March 21.69 6.900 7.06 (6) Nalwa Investments Limited The Company was incorporated on February 6.51 77.476 11.568.29 1.003.80 6.465.20. Mr.327.000 10% Cumulative Redeemable Preference Shares of Rs.30. Jindal. Saxena and Mr.815.570 NIL 1. Aras Overseas P.000 1. Jindal Strips Ltd. 100/-each Reserves and surplus (excluding revaluation reserves) Sales PAT Dividend (%) EPS (Rs. Sun Investments Pvt.327.000 13.000.732.39) 33.74 14.000 100. Vrindavan Services Pvt.) BV (Rs.29 17. The Board of directors of the company comprises Mr.000 23.000 23.630.500 285.600 (10.000 419.Ltd. Ltd.700 Equity Shares of Rs. 10/-each 2.00 77.000 521.000 1. 1998 the Company got registered with Reserve Bank of India as Non Banking Financial Company (not accepting public deposit).000 23. Shareholding Pattern The shareholding pattern is as follows: .21 19.) NIL (1.000 302. Ltd. Subscribed & paid-up) 7.750.57 18. Subhash Chandra Sharma.) FY03-04 FY02-03 FY01-02 No.77 77.792 48.000 100.000 302. Other individuals/HUFs Total Financial performance The financial performance of the company is given below Particulars Share capital (Issued.000 500.300 1.07 1.750.45 34.394. P. Stainless Investments Ltd.000 115.193. S.29 - . R. Mansarover Investments Ltd.49 5.000 40.327 NIL 6.47 1. of Shares 248. Gagan Trading Co Ltd.732.000.000 302.

000 140. 1983 and is engaged in the business of finance.Information Memorandum Name of the Shareholder Abhinandan Investments Ltd.K. 10/-each 1. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Arti Jindal Naveen Jindal Sajjan Jindal S.000 Nil 36.8) 4.517.59) Nil (18.05 5. the Company got registered with Reserve Bank of India as Non Banking Financial Company (not accepting public deposit).33 .650 % of shareholding 0.Jindal & Sons HUF P.000 19.701.000. Sunil Mittal and Mr.P.000.59) (189) 4.500. There has been no trading in shares in preceding six months (7) Abhinandan Investments Limited The Company was incorporated on April 6.457.753. of Shares 1. The Board of directors of the company comprises Mrs.400 32. Everplus Sec.26 5.34 NIL 52.650 23.100 34. O.000 Nil 39.14 5.500.99 100.500.50.K.31 7.713.13 (136.35) NIL (5.850 197950 450.101 (2.) No.038. Sun Investments Ltd.Jindal & Sons HUF .572.34 1. 1998.000 10% Cumulative Redeemable Preference Shares of Rs.35 0. & Finance Ltd.400.Jindal & Sons HUF S.550 5.000.700 100 10.74 43.19 24.356.5) This company is listed on Delhi Stock Exchange Associations Limited.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. Investment and finance related consultancy services.R. 100/-each Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs.Jindal R.00 FY03-04 FY02-03 FY01-02 4. Subscribed & Paid-up) 4. Mr.000 Equity Shares of Rs.13 7.K.705 23.000 140.221.222 (8. Parmod Garg.000 140.000 % of shareholding 0.350 112. Deepika Jindal.89 4.10 5. of Shares 200 10.30 No.000 Nil 12.) BV (Rs. On March 19.150 23.26) (183.

A.086.J. As part of backward integration.00 0.HUF Ever plus Securities & Finance Ltd Sun Investments Pvt.000 10% Cumulative Redeemable Preference Shares of Rs.000 81. There has been no trading in shares in preceding six months.000. Mr. Mr. Mr.986. The board of directors of the company comprises Smt. Jindal.33 11. Mr. The name of the company was changed to Jindal Saw Ltd.00 46.f.000 8.650 10.Jindal . S.31 - .00 4. 1983 on Delhi Stock Exchange Associations Limited. H.000. Ltd Stainless Investments ltd Mansarover Investments ltd Nalwa Investments ltd Jindal Strips Ltd Others Total 10.43) (291.850 10.000 Nil 20. M.) (Equity Shares only) FY03-04 FY02-03 FY01-02 2.060.00.000 92.e. Ms.255.812 18. w. P.00 Shares of the Company were listed on November 28.000 8.50 4. Financial performance The financial performance of the company is given below Particulars Share capital (Issued. Sminu Jindal.409. Chaudhary.25 0.502.000 81.000 Nil 23. Moosa Raza. Kuldip Bhargava.03 100.650 13. January 11.000 500 1. Devi Dayal. 10/-each 8. The company is an established player in the country for manufacturing and coating large diameter Submerged Arc Welded (SAW) line pipes. Mr.83 5.000 Equity Shares of Rs.000.000 5. 2005.050 200.132.) BV (Rs. Tauro.43) Nil (37.127 (7.9) 2.000 Nil 13.000. was merged with the company in 1991-92. Purshottam Lal.000 81.000. Swastik Udyog.3) 2.Information Memorandum Savitri Devi Jindal Deepika Jindal P. A.93 5. 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.10. which produces thicker gauge steel strips.R.37 NIL 91.945. Subscribed & Paid-up) 2. 1984 as Saw Pipes Ltd.741 (3.33 6. Swastik Foils was amalgamated into the company in 1988-89. Mr.70) NIL (15. 100/-each Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs. V.650 23. Shareholding Pattern .28 (199.000.51) (276) (8) Jindal Saw Limited The company was incorporated on October 31. R.907. Savitri Devi Jindal (Chairperson) Mr. a subsidiary of Jindal Strips. Satya Prasad and Mr.

13 42.65 crores.25 212.755. d.Foreign Promoters Persons acting in concert Sub .41 91.05 180. Financial Institutions. in crores) is given below: Equity Share capital Reserves and surplus (excluding revaluation Reserves) Sales (including Excise duty) PAT Dividend (%) EPS (Rs. c. Foreign Institutional Investors Sub . 2005 is as follows: Category Promoters Holding Promoters: .00 2003-04 38.50 235.88 4.35 242. 1. The company has engaged the services of a Registrar & Transfer Agent to handle the grievances of the investors. . Insurance Companies (Central/State Govt.Indian Promoters .Information Memorandum The shareholding pattern as on March 31. b.) 200.40 Low (Rs.34 15% 10.37 0.34 804.35 The market price of shares of the company (as on April 5.Total Grand Total No.55 9.30 235.50 250.60 242.96 76.56 1123.50 -55.60 249.800 45. 2005) on BSE was Rs.979.00 192.) 188.32 - .419 1763356 4864705 6262320 -12.30 244.659.Total Others Private Corporate Bodies Indian Public NRIs / QCBs Any other (please specify) Sub .00 Financial performance The financial performance of the company (Rs. Non Promoters’ Holding Institutional Investors Mutual Funds and UTI Banks.80 242.50 and the market capitalization was Rs.05 285. 1.658 -2.) Stock Market Data Month October 04 November 04 December 04 January 05 February 05 March 05 NSE High (Rs. Institutions/NonGovt. 3.50 304.874.458 4.00 236. 2004 to March.26 11.58 2002-03 38.264 4.24 25% 14.381 38.558 3. b. 2.95 236.98 335. 287.00 305.98 290.32 76.43 102.) 205.08 25% 19. of shares % of shareholding A. Nil complaints were received and pending from Equity shareholders during the period December. a.90 High (Rs.631.07 100.68 754.05 215.25 c.00 191.) 183. 4. The average time taken by the company for redressal of complaints is up to 15 days.457. 1120. a.Total B.00 182.355 97. 17.00 BSE Low (Rs.100 -21. Institution.702.48 225.30 56.90 287.890. 2005.52 -33. depending on the type of complaint.) BV (Rs.90 2001-02 46.05 -7.

Foreign Institutional Investors Sub . Financial Institutions. The Board of directors of the company comprises Mr.Total GRAND TOTAL No.59) 10.Total B.37 FY-01-02 224 0. a. 1983 on Calcutta Stock Exchange Association Limited and no trading has taken placed during last 6 months. of shares 100 100 % of shareholding 0.84 10. Swami and Mr. Financial performance The financial performance of the company (Rs. b.00 Nil 30.Govt.Total Others Private Corporate Bodies Indian Public NRIs / QCBs Any other (please specify) Sub . in lacs) is given below: Particulars Share capital (including preference share capital) Reserves and surplus (excluding revaluation reserves) Sales PAT Dividend (%) EPS (Rs. The Company has not issued any rights or a public shares in last five years.21% 82.89 Nil 74. b. 4. 1983 and is in the business of investment and trading in shares. c. 2.96% 100.37 FY-02-03 224 0.) FY-03-04 224 0. Jain. 1.89 Nil (203.04% - A. R.37 (10) Gagan Trading Company Limited . d.56) Nil (84. Institutions/Non.41) Nil (0. R. 3.04% 0.75% 99. Shareholding Pattern The shareholding pattern is as follows: CATEGORY PROMOTERS HOLDING Directors Persons acting in concert Sub . P.33 - .00% Shares of the Company listed in April. 41300 198600 239900 240000 17.) BV (Rs. Insurance Companies (Central/State Govt.82) 10. Institution. M.89 Nil (1. Mr. NON PROMOTER’S HOLDING Institutional Investors Mutual Funds and UTI Banks.Information Memorandum (9) Colorado Trading Company Limited This Company was incorporated on January 17. L. a. R. c. Gupta.

Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Sun Investments Pvt.25 .) FY 04 1715.90 (3150. Pentel Holdings Ltd.75 *(0.68) 54. Ltd.600 2. Bavneesh Gulati.000 1. Beaufield Holdings Ltd. Mr.90 (3344.450 2. Jayaraman.Information Memorandum The Company was incorporated on January 31.83 11.369.269. 1983 as a public limited company.90) 533.000 20. in lacs) is given below: Particulars Equity Share Capital Reserve and Surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs. Beaufield Holdings Ltd.83 1. Ltd.65) (8. Mendeza Holding Ltd.68 7.71 13.40) No. Sriram.59. Bavneesh Gulati. Mr. K. P. 2002.000 % of shareholding 39. trading in securities and providing management consultancy services.97) *(2. Gagan Trading Co.99 (193. The Company has not come out with any Rights or Public issue in the last five years. Mr.00 * EPS has been arrived at after considering Dividend on Redeemable Cumulative Preference Shares.30.42) (12. (11) Vrindavan Services Private Limited (VSPL) Vrindavan Services Private Limited was incorporated on April 8.877. Board of directors of the company comprises Mr.38) (9.34 - .77 10.900 % of shareholding 21.100 2.000 5.S.R.R. Heston Securities Ltd.30.000 3.91) FY 03 1715.83 11. Estrella Investments Ltd.) BV (Rs.000 20. The shares of the Company are listed on the Calcutta & Uttar Pradesh Stock Exchanges. It is into the business of investments. No. Ltd. Kole and Mr. 1997.” with effect from March 29. Kole and Mr.83 11. Nacho Investments Ltd.30.000 20. Board of directors of the company comprises Mr.880. The company was reconverted into a private limited company on April 5.09 (2168.000. of Shares 7.53 6.90 (3241.000 20.000 2.40 11.71. Rajeev Pai. trading in securities and providing management consultancy services.52) FY 02 1715.79 102.30.65) 471.30.06 6. P. R.564. Sarmento Holdings Ltd. 1982 as a Private Limited Company and converted into a public limited company “Vrindavan Services Ltd. of shares 67.000 20.N.250 2.06 7.83 11.45 100. Heston Securities Ltd.564.49. The company is carrying on the business of investments. Templar Investments Ltd. Shareholders Sun Investments Pvt.64) (8. Others Total Financial performance The financial performance of the company (Rs.60.

000 710. Ltd. Nacho Investments Ltd.74) 11. Jindal Total Financial performance 2.69 17.01 58.18 0.711.119. Aras Overseas Pvt.” with effect from October 15.71 6.94 0.000 65. Wachovia Investments Pvt.25 6. The company was reconverted into a private limited Company on February 18.94 2681.000 340.17) (0.55 7.300 5.900 3. Kamshet Investments Pvt.500 64.000 2. Naman Enterprises Pvt. Its board of directors comprises Mrs.94 0. D. Estrela Investment Co. No. Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Jindal South West Holdings Limited Jargo Investments Ltd.25 1.400 % of shareholding 40.Information Memorandum Templar Investments Ltd. Ltd.269.000 140.72 0.800 3. Jindal Holdings Ltd.25 6. 2003. Mr.33 Sun Investments Private Limited was incorporated on June 2.) BV (Rs. of Shares 29.50 (121. Vavasa Investments Ltd.18 . J.39 0.19 4. Ltd. Ltd. Ashok Goel.94 0.86 FY 02 1644.09) 15.73 5.24 2061. trading in securities and providing management consultancy services.000 340.000 340. Estrela Investment Co.000 625.513.80) (0.269. Pentel Holdings Ltd.800 2.989.207.300 11. Ltd.001 401 36. Deepak Bhat and Mr.269. Mr. Jindal Coated Steel Pvt.400 1. Ltd. Sarmento Holdings Ltd.00 100. Pentel Holdings Ltd.27 4.98 0. Ltd. Mr.13 50. Sangita Jindal (Managing Director).89 5.119. 1990.700 4.40 249.66 5.00 0.18 0.100 4.760. Ltd.) (12) Sun Investments Private Limited FY 04 3629. Jindal Coated Steel Pvt.96 1.51 (31. 1981 as a private limited company and converted into a public limited company “Sun Investments Ltd. in lacs) is given below: Particulars Equity Share Capital Share Application Money Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.39 FY 03 3518.052.40 355.94 0. Garg.32 141.402 6.299. Ltd.00 219. The company is in the business of investing. Jargo Investments Ltd.300 2.00 The financial performance of the company (Rs.000 340. V. P. Musuko Trading Pvt. Baltimore Trading Pvt.35 - . Ltd Mendeza Holding Ltd.

) (13) Meredith Traders Private Limited FY 04 7149.700 23.100 10. Kole and Mr.000 6.02 0. Puran Chand Sharma Total Financial performance 2.28 28.000 5. R.500 10.200 2.58) (0.22 0.201.033.347. Jindal Ms.300 10.000 14. Tarini Jindal Ms. Vavasa Investments Ltd.30 10532.27 11796.000 8. Abhuday Jindal Ms.50 . P. Ms.28 2.08 0. Sangita Jindal Mr. Naveen K. Jindal (HUF) Mr. The Company’s Board of Directors comprises of Mr. Mr.55 FY 02 5827. it is in the business of Investments and trading in securities.000 % of shareholding 50. Mr.76 4051. Urvi Jindal Ms.04 37. No.900 60.00 100.59 1.500 17.34 0. Ltd. Everplus Securities Pvt. Savitri Devi Jindal Ms.01 0.600 2.01 0.03 0.999 300.500 13. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation Reserve) Income PAT Dividend EPS (Rs. Templar Investments Ltd.05 0. P .13 1828. Sminu Jindal Vrindavan Services Pvt. Ratan K . of Shares 1.02 0.Information Memorandum Beaufield Holdings Ltd.03 27.02 0.000 46. Deepika Jindal Colorado Trading Co.89 733. Deepak Bhat.75 4395.Jindal O. Shareholding Pattern The shareholding pattern is as follows: Shareholder Gagan Trading Company Ltd.100 39.04 0. 1993 as a private limited company.) BV (Rs.00 The financial performance of the company (Rs.800 6.46 12. Ltd.36 - .800 3. Heston Securities Ltd. Om Prakash Jindal Ms. Tripti Jindal Ms.300 30. Vrindavan Services Pvt. Tanvi Jindal Jindal Strips Ltd.68 FY 03 7119.07 Incorporated on August 11.01 0.492. Ltd.84 0.61 (28.000 51.033.20 161.84 2.06 0.02 0.000 100 71.01 0.01 0.01 0.04) 26. Jindal Mr.01 0.000 239. Ltd.07 0. Mr.28 12649.400 13.001 898. P.R.

Prithvi Raj Jindal. 1997. Mr.40) 115. P.002 (715.00 100. Jayaraman and Mr. Kole. Ltd.00 (1889.00 (15) Templar Investments Limited Templar Investments Limited was incorporated on June 30.39) 14. Total Financial performance 1 1 2.) BV (Rs. of Shares 1 1 2 % of shareholding 50. It carries out activities of holding and letting out of property.31) 2001-02 2400.08) 19.60 0.53 (9.62) (3.002 (725. 1993.00 (4562.002 (670.58 2729130 (33524543) FY 03 0.002 0. . Sunil Damani Total Financial Performance The financial performance of the company (Rs. Silky Investments Pvt.Information Memorandum Gauri Investments Pvt. R.45) 16. Couldip Basanta Lala and Mr.60 (330.11) 3030.100 each) Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.99) 8.01 12. 100 each) Reserve and surplus Excluding revaluation reserve Income PAT Dividend EPS Rs BV Rs 2003-04 2400.86 54. Dev Joory.37 - . in lacs) is given below: Particulars Equity Share Capital (Shares of Rs. Shareholding Pattern The shareholding pattern is as follows: Shareholder Mrs.62) (481073) (36253673) FY 02 0.) FY 04 0. Board of directors comprises Mr. investments in capital markets and providing consultancy services.00 50.13 2002-03 2400.00 100.12 (76. Mr.00 The financial performance of the company (Rs.89) (14) Reynold Traders Private Limited The Company was incorporated on September 1.61) (16530489) (35772825) No.19) (90.07 21.52 (90. Damani Mr. R. It carries activities of investments and dealing in shares and securities. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.59 75.00 (4574.400. Pradip Gaad.82 1801. Sangeeta S. The company’s board of directors comprises Mr. Ltd.00 0.

Pradip Gaad. of Ordinary Shares 5.500 1. Couldip Basanta Lala and Mr.12. Mr.00 26.00 .Information Memorandum Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Prithvi Raj Jindal Pradip Gaad International Trustees Limited Total Financial Performance The financial performance of the company (in US Dollars) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS BV 31.12.38 - .000 % of shareholding 70. 1997.03 5000 11439760 572657 561127 -112 2289 31.12.00 (16) Heston Securities Limited Heston Securities Limited was incorporated on June 30.000 % of shareholding 71.00 100.02 7000 10831910 3784920 3591007 -513 1548 31. of Ordinary Shares 3.01 7000 7240903 3016130 2672687 -382 1035 No.03 7000 11396160 575602 564250 -81 1629 31.00 3.12.00 100. It carries activities of investments and dealing in shares and securities. Board of directors comprises Mr.400 100 5. Prithvi Raj Jindal.12.01 5000 7296767 3015505 2670935 -534 1450 No.000 1.12.00 28. 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.02 5000 10878633 3784318 3631866 -726 2177 31.00 2. Dev Joory.800 200 7.

Mr. of Ordinary Shares 999 1 1.12.01 1942 (384863) 153638 45256 -45 -No. Board of directors comprises Mr. It carries on activities of investments and dealing in shares and securities.10 100. Mr. 1996. 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 31.03 1942 (424514) 116024 109264 -109 -31. Prithvi Raj Jindal.00 34.Information Memorandum (17) Vavasa Investments Limited Vavasa Investments Limited was incorporated on June 18.90 0. 1997.12. Mr. of Ordinary Shares 650 340 10 1. Pradip Gaad.03 1942 (3136527) 137015 31.02 1942 (3266074) 63406 31.02 1942 (533740) 63350 (148877) --31. Prithvi Raj Jindal.12.12. Andry Tryphonos and Mr.00 . 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. Board of directors comprises Mr.01 1942 (3063112) 39504 No.000 % of shareholding 99. Andry Tryphonos and Mr.00 1.000 % of shareholding 65. Pradip Gaad. It carries on activities of investments and dealing in shares and securities.39 - .12.00 100. Mr. Tasoula Georgiou. Tasoula Georgiou.12.00 (18) Jargo Investments Limited Jargo Investments Limited was incorporated on July 29.

Pradip Gaad. Mr. Couldip Basanta Lala and Mr. Pradip Gaad.00 38. Tasoula Georgiou.Information Memorandum PAT/(Loss) Dividend EPS BV 129548 -130 -- (202962) ---- (497541) ---- (19) Sarmento Holdings Limited Sarmento Holdings Limited was incorporated on June 18.000 % of shareholding 60.02 1942 (551289) 61227 (116050) ---31. Mr.00 Beaufield Holdings Limited was incorporated on June 30. Prithvi Raj Jindal.000 1.00 44.12. of Ordinary Shares 550 445 5 1. Mr.000 % of shareholding 55. Andry Tryphonos and Mr. 1997.40 - . Dev Joory. 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 31.00 . 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.03 1942 (424786) 133418 126504 -126 -31.50 100.12. of Ordinary Shares 3. The company’s board of directors comprises Mr.12.50 0. Prithvi Raj Jindal. Mr.00 100. It carries activities of investments and dealing in shares and securities. Board of directors comprises Mr.00 2. It carries on activities of investments and dealing in shares and securities.01 1942 (435239) 172323 (10648) ---No.900 100 5. 1997.

500 1. 1997.12.000 % of shareholding 75.00 . Mr. Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Prithvi Raj Jindal Pradip Gaad Other – Nominee Total No. Mr.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 (22) Mendeza Holdings Limited 31.400 100 6.03 6000 11309499 569872 558239 -93 1886 31.01 6000 7160578 3014513 2569236 -428 1194 No.12. 1997. Couldip Basanta Lala and Mr. Tasoula Georgiou.00 23.000 % of shareholding 66. It carries activities of investments and dealing in shares and securities.00 2. of Ordinary Shares 4. It carries on activities of investments and dealing in shares and securities. Prithvi Raj Jindal. Prithvi Raj Jindal.00 1.00 33. Board of directors comprises Mr. Mr. Pradip Gaad. Board of directors comprises Mr.12.41 - .00 Mendeza Holdings Limited was incorporated on June 18. Dev Joory.02 5000 10791447 3786975 3622069 -724 2159 31.00 100.02 6000 10751260 3783357 3590681 -598 1793 31. Pradip Gaad and Mr. Mr. Andry Tryphonos. of Ordinary Shares 660 330 10 1.12.01 5000 7169378 2997354 2615193 -523 1435 Pentel Holding Limited was incorporated on June 30.03 5000 11464486 685951 673039 -135 2294 31.Information Memorandum Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS BV (21) Pentel Holding Limited 31.00 100.

Mr. It carries on activities of investments and dealing in shares and securities. Couldip Basanta Lala and Mr. Board of directors comprises Mr.00 31.01 6000 7163300 3002215 2547719 -425 1195 No. Mr. Pradip Gaad.01 1942 (543834) 184478 (13371) ---- (23) Estrela Investment Company Limited Estrela Investment Company Limited was incorporated on June 30.12. 1997. Pradip Gaad and Mr.000 1.880 120 6. Prithvi Raj Jindal.00 100. Andry Tryphonos. Dev Joory. The company’s board of directors comprises Mr.12.03 1942 (537985) 144577 132778 -133 -31.02 1942 (670762) 63359 (126928) ---31.02 6000 10794110 3795749 3630810 -605 1800 31.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. Tasoula Georgiou.42 - .03 6000 11381086 600079 586976 -97 1898 31.12. Mr. Prithvi Raj Jindal. Mr. Shareholding Pattern The shareholding pattern is as follows: .00 (24) Nacho Investments Limited Nacho Investments Limited was incorporated on April 18. It carries activities of investments and dealing in shares and securities.000 % of shareholding 67. of Ordinary Shares 4. 1997. 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 31.00 2.12.12.

Ratan Jindal.. The board of directors of the company comprises Mr.00 44. parallel flanges and billets. the name of the company was changed to Jindal Steel & Power Ltd. Shareholding Pattern The shareholding pattern as on 31.79 . Harsh Vardhan Lodha. on June 12.00 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. The company has a unit in Raigarh. It is also engaged in generation of power. Mr. Mr. L.12. Gupta. Naveen Jindal.Indian Promoters i) Corporate Bodies + Resident Indian No. Sushil K. A 1 Category Promoter's Holding Promoters .00 1.43 - . The company has captive iron ore and coal mines at Tensa in Orissa and Mand area in Raigarh in Chattisgarh respectively.’ on May 27. of Ordinary Shares 550 440 10 1. Maroo and Mr.03. Rajendra Singh.00 100.000 % of shareholding 55. 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.Information Memorandum Name of Shareholder Prithvi Raj Jindal Pradip Gaad Other . were transferred to and vested in the company from April 2. which is engaged in production of Sponge Iron.12. Singh Pasrich. Mr.2005 is as follows: Sr.Nominee Total Financial Performance No. 1998. Subsequently. 1998. 1998. The company’s unit at Raipur is engaged in machining. Mr.02 1942 (577071) 63395 (104145) ---31. Subir Bisht. Raigarh and Raipur divisions of Jindal Strips Ltd. Vikrant Gujral. Ltd. which was converted into a public limited company ‘Orbit Strips Ltd. of Shares % of Shareholding 16256093 52.01 1942 (472926) 163626 (17783) ---- (B) (1) Promoter Group Companies Jindal Steel & Power Limited (JSPL) The company was incorporated on September 28. Ferro Chrome and Steel Products like slabs. 1979 as Orbit Strips Pvt. Mr. Amir Z. Mr. M.03 1942 (446781) 136498 130292 -130 -31. Mr. Mr. No.12. blooms. Anand Goel.

Information Memorandum 2 B 3 a b ii) OCBs+Non Resident Indian .41 0.35 964.00 1000.22 107.95 834.50 821. 05 NSE High (Rs.00 692.) BV (Rs.16 4.40 839.22 277 2002-03 14.) 796.) 795.05 915.61 14.63 558.40 and the market capitalization was Rs.00 1103. in crores) is given below: Particulars Equity Share capital Reserves and surplus (excluding revaluation reserves) Sales (including Excise duty) PAT Dividend (%) EPS (Rs.18 1.00 1000.00 860.) 663. 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 7.00 628.00 BSE High (Rs.) Stock Market Data Month October 04 November 04 December 04 January 05 February.00 2003-04 15.00 1104.66 0.18 100. 3215 crores.49 305.00 833.86 60.80 1561.44 - .00 1262.) 623.77 1.00 851. Financial Institutions.00 Financial performance The financial performance of the company (Rs.33 654.00 964.00 The market price of shares of the company (as on March 31.65 1664578 132548 5.00 1026.00 1259.00 180.79 145.33 18. 05 March. 2005) on BSE was Rs.08 125% 52.00 920.00 Low (Rs.15 21.90 452. . 1044.35 824.55 70% 38.Foreign Promoters Person acting in concern Sub-Total Non-Promoters Holding Institutional Investors Mutual Funds and UTI Banks.00 Low (Rs.90 1030.46 200% 100.109.00 195.00 2001-02 12.43 c 4 a b c d 3795642 5592768 1420514 4546914 510135 45044 6522607 30792268 12.

the stainless steel undertaking from Jindal Strips Ltd with all the property. Shareholding Pattern The shareholding pattern as on March 31. 2. Complaints Received: 50. 2003.Ltd 4.375 xiii OCBs 8. 1980 as Jindal Ceramics Limited. 1.e.50 2.157.290 % of shareholding 1. Ltd. powers and liabilities in respect to stainless steel undertaking stood transferred to and vested in Jindal Stainless Limited w.23 8. 2003. April 1. Mr. flat bars./Jindal Saw Ltd. Ratan Jindal.19 4. Mathur.454. Ltd 2.078. 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.615. vide Punjab & Haryana High Court order dated May 31.707.com Limited on January 25. Mr.38 8.012. plates and sheets.K.31 0.080 ix Vrindavan Services P.22 2. Resolved/Replied: 50 and pending: 1 (2) Jindal Stainless Limited The company was promoted by Mr.210 vi Nalwa Investments Ltd.92 4. Ltd. Singhal.705 x Hexa Securities & Finance Co.835 v Mansarover Investments Ltd. 2002 (the appointed date). Naveen Jindal. Ratan Jindal.11 5.296. Ser.555 xii Saw Pipes Ltd. The name of the company was changed to Jindal Int. 3.710 xiv Others 5.410. hot rolled and cold rolled coils. 2.45 - . 2. Under the scheme of Arrangement and Demerger among Jindal Strips Limited and Jindal Stainless Limited. The board of directors of the company comprises Smt.780 iv Everplus Securities & Finance Ltd 1. N.92 . 2001 and further to Jindal Stainless Limited on January 27. depending on the type of complaint. Category No.999.295 iii Sun Investments Ltd 9.797. Promoter’s holding 1 Promoters: Indian Promoters: I Colorado Trading Co.05 3. The average time taken by the company for redressal of complaints is up to 21 days.G. L. Mr. A.89 2.110 vii Stainless Investments Ltd. 2005 is as follows: Sr. R. Garg and Mr. Mr. blooms. Savitri Devi Jindal (Chairperson) Mr.443. rights. of shares held No. Dr.45 1.845 ii Gagan Trading Co. C. The company was originally incorporated on September 29. 1. asset.f.46 1.945 viii Manjula Finances Ltd 1.946.800 xi Jindal Equipment Leas & Con. Ltd 5.Information Memorandum The investor grievances received by the company are handled through secretarial office of the company and through the Registrar & Transfer Agent engaged by the company. Particulars of investor complaints during the period January to March 2005 are as follows: Opening balance: 1. Rajinder Parkash.55 1. Suman Jyoti Khaitan.735.315.

48 7.) 94. American Express Bank Ltd ii Life Insurance Corporation of India iii Others FIIs.998.41 51. 4 a.223.272 22.) 76.38 2.10 1.022.80 1989.24 2605. Insurance Companies (Central/ State Govt.46 - .13 2001-02 0.608 2. Financial Institutions.) 77.697. Indiabulls Financial Services Ltd Ii Others (Companies) Indian Public NRIs/ NRI Companies/OCBs i.810 52. -Foreign Promoters Persons acting in concert Sub-total (A) Non-Promoters Holding Institutional Investors Mutual Funds and UTI Banks.01 48.909.) Stock Market Data Month October 04 NSE High (Rs.08 55.844 2.891 56.50 Low (Rs. b. c.58 164.883. i.93 90.524 1.Government Institutions) i.47 15.498 520. 3 a.115 975 40.00 d.30 58.727.19 100% 17.) 93.55 2.437 16.269 4. b.977.220.0001) - .204. ii FID Fund Mauritius Ltd.00 36.189.) BV (Rs. ii Others Any other (pending allotment) Sub-total (4) Sub-total (B) Grand-total (A+B) 3.0007 (0.17 20.Information Memorandum 2 B.15 60% 9.30 BSE Low (Rs.345 0. Latin American Investment Bank Bahamas Ltd.00 High (Rs.070 0.80 100.24 9. in crores) is given below: Particulars Equity Share capital Reserves and surplus (excluding revaluation reserves) Sales (including Excise duty) PAT Dividend (%) EPS (Rs. Sub-total (3) Others: Private Corporate Bodies i.656 9.19 4.83 391.57 2002-03 13.20 269. Financial performance The financial performance of the company (Rs.54 c.909.02 0.499 109.98 530.760 2.93 0.500 7.423 1.932.20 2003-04 19.997. Others (FIIs) 5.10 1. Institutions / Non.

Gagan Trading Co Ltd. Ltd.000 1. Mr. 2005) on BSE was Rs.00 0.R.75 91.10 81.11 5.U.000 1.000 1.90 111. Ltd. is NBFC (not accepting public deposit).90 78.40 96. Ltd.000 2.50 91.47 - .520. Manjula Finances Ltd.000 1.318.81 5.95 106.86 crores. Ltd.000 10.70 80. The average time taken by the company for redressal of complaints varies from 7 to 25 days.F Master Parth Jindal R.75 90.318.U. P.000 500. Ltd.318.00 .65 5.15 87. Resolved/Replied: 478 and Pending: 12.015. Aras Overseas P.318. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Naveen Jindal H.00 80.21 7.010.00 11.000 10. The company has engaged the services of a Registrar & Transfer Agent to handle the grievances of the investors.U.660.P.81 5.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.F P.95 106.000 3.04 0.K.86 2.33 2. Jindal & Sons H.000 22.16 13. 1079.00 78.04 0.00 87. Investment and finance related consultancy services.318. Wachovia Investment P. Kamshet Investment P.000 2. Brahmputra Cap & Fin Ltd. Vrindavan Services Pvt.81 5.81 5. Jindal H. D.000 1.675.400.30 8.000 600.17 11.20 88.05 80. depending on the type of complaint.81 100.000 1.U.000 10. 1997.000 590.25 and the market capitalization was Rs.70 91.020 % of shareholding 0.570. of Shares 10. Musuko Trading P.F O.98.000 10 10 2. Sharma and Mr.04 0. Baltimore Trading P. Ashok Goel. 1995 and became Public Company with effect from March 31.55 110.60 6. Ltd.32 2.04 0.000 1.000 10. Jindal & Sons H.170. Board of Directors includes Mr. Total Financial performance No. Jindal Holdings Ltd. (3) Manjula Finances Limited The Company was incorporated as Private Limited on February 1.00 The market price of shares of the company (as on March 31.000 1.04 0. Particulars of investor complaints during the period April 2004 to March 2005 are as follows: Complaints Received: 490. Sunil Mittal. The Company is engaged in the business of finance.40 96.Information Memorandum November 04 December 04 January 05 February 05 March 05 89.

533.000 10.05 0.000 1. Ltd.55) 2.220.69 6.670.) BV (Rs.000 21.05 0.000.19) NIL (0.53 6.300.000 486.P.78) 2.770.020 Equity Shares of Rs. Baltimore Trading P.500. Gagan Trading Co Ltd Jindal Holding Ltd.05 0.000 10.000 2.200 NIL 6.73 11.71 (4) Renuka Financial Services Limited The Company was incorporated as Private Limited on February 1.00 18.05 0.871.25 2.500.40 2.020.000 1.25 2.000 486.750. 1997. Ltd. Musuko Trading P. Jindal Naveen Jindal H. Ltd. Vrindavan Services Pvt.970. Parmod Garg. Ltd. Investment and finance related consultancy services.25 100 . The Board of Directors comprising of Mr.) FY03-04 226.750.590. Mr. Wachovia Investment P.000 10.802.726.17 FY01-02 226.58 12.00 0.020 % of shareholding 0.20 7.000 2.200 NIL 26.74 8.660.Information Memorandum The financial performance of the company is given below Particulars Share capital 2. Kamshet Investment P.14 2. of Shares 10.05 0.445.200 NIL 40. Total No.509. Nalwa Investments Ltd.75. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder P.858.355.000 486.95 2. Sharma.000 1.000 1. Vivek Goel and Mr.55) NIL (0.U.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. 10/-each Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs.620.000 10.2 (12.000 590.25 2.500.000 10 10 4.95 6. P. The Company is NBFC (not accepting public deposit) and engaged in the business of finance.000 1.34 NIL 0.56 FY02-03 226. 1995 and became Public Limited with effect from March 31. Aras Overseas P. Ltd.000 486.25 2.26.R.6 (17. Ltd.750. Jindal O.48 - .000 1.4 8. D.00 .827.02 7.000 486.

590.05 0.200 FY01-02 215.025.020 % of shareholding 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.754.Information Memorandum Financial performance The financial performance of the company is given below Particulars Share capital (Issued.F Naveen Jindal H.U.00.67 NIL 0.000 NIL 98977652 605.36 (5) Ever Plus Securities & Finance Limited The Company was incorporated on November 24.38 5.34 3. subscribed & Paid-up) 21.000 10.38 14. Sanjay Agarwal.) FY03-04 215. 100/-each Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs.950.015.000 1.49 - .200 FY02-03 215.000 10. Ltd.00 14.000 10 10 3. Deepak Goel.000 Preference Shares of Rs. Investment and finance related consultancy services.900.000 10.750.000. 1994 as Private Limited and later on became public Company with effect from March 31.27 21. The Company is NBFC (not accepting public deposit) and engaged in the business of finance.000 1.000 3.05 0.05 0.625.00 0.200 10.05 0.000.000 3. 10/-each 1.4 NIL NIL 18754323 (23. Jindal H.R.900.90 7.000. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Deepika Jindal P.588.02 2.94 8. Mr.000 1.000 4.) BV (Rs.000 NIL 161907596 102.10) 2.900. Total Financial performance No.000 10. of Shares 10.000 710.660.500.17 10.000 1.924.55) NIL (1.56 7.000 21.00 .670.32 14.13 7.170. 1997.020 Equity Shares of Rs. Vivek Goel and Mr.U. The Board of Directors comprising of Mr.000.12 NIL 5.27 2.40 100.000 500.05 0.

The company is engaged in the Business of Cast Iron Foundry and changed the activities in heavy & Light Engg. Ltd. 193342 108810 16967 319119 319219 60. a. c.439 108.200 NIL 12. since December 21. Institution. Shareholding Pattern The shareholding pattern is as follows: Category A.50 - .08% 5.65 NIL 5.270 (80. Jain. on October 25. Co.6 FY02-03 210. The Board of Directors comprising of Mr.200 NIL 36.643. L.323. b. Financial Institutions. Insurance Companies (Central/State Govt. Promoters Holding Directors : Persons acting in concert Sub . Gupta.04% - c. a.31% 99. d.00% Shares of the Company got listed in September. R.Total Others Private Corporate Bodies Indian Public NRIs/QCBs Any other (please specify) Sub .01) (1. 1.I.250. Financial performance The financial performance of the company is given below .56) FY01-02 210.250.) BV (Rs.200 NIL 148.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. Foreign Institutional Investors Sub .00) (1. M.250. 4. jobs under S. 1984.04% 0.Total NON PROMOTER’S HOLDING Institutional Investors Mutual Funds and UTI Banks.026 (42.606.82) NIL (0.187. b. Institutions/Non.96% 100.Total GRAND TOTAL No.577.Govt.57% 34.16 3. 1957 as Sree Iron Foundry & Engg. P.377. Mr. 1984 on The Calcutta Stock Exchange Association Limited and no trading has taken placed during last 6 months. R.S.629.56) (6) Nalwa Engineering Company Limited The Company was incorporated on December 3.) FY03-04 210. B. 1983. Works (P) Ltd and later on the name was changed to Nalwa Engg. 3. Swami and Mr. of Shares 100 100 % of shareholding 0. 2. R.966) NIL (2.

55 12.220 % of shareholding 0.27 3.27 (Rs.722.05 28. Deepak Goel. Mr. Ltd.000 18. 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 2. Abhinandan Investments Ltd Nalwa Investments Ltd Bhramputra Cap. Musuko Trading P.27 (7) Goswamis Credits & Investments Limited The Company was incorporated as Private Limited on January 13. Total No.51 - . Wachovia Investment P.61) Nil (10.F Savitri Devi Jindal Om Parkash Jindal P. Ltd.65 2. Vivek Goel and Mr.65 2. Aras Overseas P. 1995 and became Public Limited with effect from March 31.000 496. The Board of Directors comprises Mr.56 (32.65 2. & Finance Ltd M\s Silver smith Gagan Trading Co. Ltd. Jindal Master Parth Jindal Master Abhuday Jindal Manju Bansal Renu .500. 1997.05 0.92 13. Ltd.200 50.03 0.600.03 0. of Shares 10.) BV (Rs.S.000 5.47 (54.000 496.170.20 15.38 37. On December 5.000 10.000 2.000 500.427.35 2.22) 11.25 4.000 10.Information Memorandum Particulars Share capital Reserves and surplus (excluding revaluation reserves) Sales (Including Other Income) PAT Dividend (%) EPS (Rs.25 7.000 590. the Company got registered with Reserve Bank of India as Non Banking Financial Company (not accepting public deposit).000 5.83 Nil 11.000 1.05 0.00 .000 496. In lacs) FY-01-02 31.92 4.420. Baltimore Trading P.00 8.000 810.U.000 10 10 1.93 3.05 0.000 1.855.00 0. Ltd.92 4.27 FY-02-03 31.05 53. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Naveen Jindal H.85 11. Ltd. Ltd. 2002.92 4.000 1.000 2.33 8.67 6.65 2.000 496.670. Sunil Mittal. Kamseth Investment P.17) 11.05 33.R.62 0.15 2.000 496.000 600.82) Nil (17.05 0.000 10.65 100.) FY-03-04 31.

57) NIL (0. Promoters: .00 The Company’s Equity Shares are listed on The Delhi Stock Exchange Association Ltd.e.98 100.52 - . In the year 1996.7 (16.789.11. Ms.750 1.430 (7. 4. Insurance Companies (Central/State Govt.30 FY01-02 187.e.Indian Promoters .377. It was incorporated for carrying on the business of continuous cast.005.79 --46. Sub .Total Others Private Corporate Bodies Indian Public NRIs / QCBs Any other (please specify) Sub .Foreign Promoters 2. Sandip Sharma and Mr.650 2.962.222.750 --98.871.73) NIL (0.103.07 53. a.600 -96.3 (14. 1979 as Nalwa Steels Ltd. 3. a.) (8) FY03-04 187..85) 2. R.900 3.200 NIL 2.397. Institution.38) 0. Hot and Cold Rolling Mills.350 6. Jindal. d.05) NIL (0. c.200 NIL 11.904.Total NON PROMOTER’S HOLDING Institutional Investors Mutual Funds and UTI Banks. New Delhi w. Mr.79) 1. the manufacturing activities were disposed off under the provisions of Section 293(1)(a) of the Companies Act.02 --- --- c.222.) BV (Rs.626. of shares % of shareholding 14.95 -46.000 --45. D. Goel. Foreign Institutional Investors Sub . Shareholding Pattern The shareholding pattern is as follows: CATEGORY A. K. PROMOTERS HOLDING 1.200 NIL 3.f.134. b.19 1. Persons acting in concert B. 1984. 21 lakhs. .222. P.10. 1956 and since then there is no manufacturing activity in the Company. As the paid-up capital of the Company is only Rs.362.08 (excluding Jindal Seamless Tubes Limited The Company was incorporated on April 12. The Board of Directors comprises Mr. June 5. b.92 FY02-03 187. 1992. --94. w. Sminu Jindal. Financial Institutions.Total GRAND TOTAL No. Institutions/NonGovt.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. The name of the Company was later changed to Jindal Seamless Tubes Ltd.f. there has not been any trading in the shares for the last several years. June 28.

400 24.) FY03-04 2.229.51) (Rs.00 .760 (1.) BV (Rs.125.14) (125. S.98 9.85 (258. 100/each) Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs. The Company is engaged in the property business. S.04 13.41) Nil (175.53 - .36 (197.93) (118.370 10 3.000 Nil 1.230 2.75 9.100 2.Jindal Jindal Strips Ltd Total Financial performance The financial performance of the company is given below Particulars Share capital (Equity Shares of Rs.79 (23.56) Nil (10.400 130.922.050 % of shareholding 0. 2005).85 (297.80) 13.98 9.400 2. P.405. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Savitri Jindal O.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.98 100.98 9.12 0.85 0.15 NIL 16. The Board of directors of the company comprises of Mr.000 Nil 1.885. Ltd Gagan Trading Co.360.98 21.51 4.400 2. Jindal (till March 31.18 NIL 10. Saxena. Savitri Devi Jindal and Mr.) (9) Rohit Tower Building Limited FY03-04 21. 1986.R.40) NIL (46.405.78) (136. of Shares 30 60 2.400 2. Ltd Nalwa Investments Ltd Swastik Udyog Ltd.96) No.24) 5.29) FY02-03 21.9) FY02-03 2.971. Smt.57 9.78) (209.64) 162.04 (15. O. Jindal Colorado Trading Co. 1971 and became Public limited with effect from July 30.37) The Company was incorporated as Private Limited on June 16.000 Nil 1.400 5. In lacs) FY01-02 21.405.22 (384.25 9.) BV (Rs.130 159.250 1.85 (274.60) Nil (7.005.52) FY01-02 2. P./ Jindal Saw Ltd Naveen Jindal Abhinandan Investments Ltd Ratan Jindal Stainless Investments Ltd P.08 (204.

00023 49.859.550.15 370.869. The Company is NBFC and holds investment in other Companies.81) 295. 1994. of Shares 100 20. D.00 (2. UPSIDC Indl.00023 100. Area.00 . The Board of directors of the company comprises Mr. 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. P.800 500.Information Memorandum (10) Hexa Securities & Finance Company Limited This Company was incorporated on November 23.000 100 42.25 (11. Mathura (U.) – 281 403.58 Nil 0. Parmod Garg. 1994 as Hexa Securities & Finance Co.45 Nil 0.) BV (Rs.16 63. 1995. Distt.86) (11) Brahmputra Capital And Financial Services Limited The Company was incorporated on June 14.21) (Rs. Aggarwal.200.000 500.000 500.00 (2.76) FY02-03 2. 2002.000 % of shareholding 0.26) 74.08 0.17 1.17 45.) FY03-04 2. Ranjit Malik and Mr. The Board of Directors of the Company comprises Mr.98) 509. Kosi Kalan. It was converted into Public Limited Company on December 3.Bansal Nominee of Jindal Strips Ltd Total No. Ltd. The company is Non-Banking Financial Company (not accepted Public deposits) registered under Section 45-IA of the Reserve Bank of India Act.17 1.00 (3.66 163.54 - . Arvind Kiran Aggarwal. Nandgaon Road.K. Mr. Sharma and Mr. Pvt.22 1.550. Rajesh Aggarwal.023.83 Nil 1. R. The Company was incorporated as Private Limited and became Public Limited with effect from May 4.000 500.45 (9.550.00 1. 1934.488. K.P.000 19. In lacs) FY01-02 2.17 1.64 (11. Mr. 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.590. having its registered office at A-1. Shareholding Pattern The Company is 100% subsidiary of Jindal Saw Ltd.000 520.

1989 under the Companies Act.150. Ltd.103. The Board of directors of the company comprises Mr.) BV (Rs. R.79 Nil 2059.000 Nil Nil Nil Nil Nil Nil 7.4 FY01-02 425.000 Equity Shares of Rs.399) Nil (0.869 (279.00 0.55 - .296 (30.316. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Naveen Jindal P.000 (831. On January 13. 100/.000 145. Investment and finance related consultancy services.000 83. Saraf and Mr.79) (102) FY01-02 1.717.900.500) 7%Redeemable Cumulative Preference Shares of Rs.000 Nil 15.09) Nil (109.468 Gagan Sponge Iron Private Limited The Company was incorporated on February 24.00 No.each Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs.990 10. Ltd.000 % of shareholding 80.000 Nil 36. Raj Kumar Nahata.43) Nil (0.164 (1.00 (13) Opellina Finance & Investment Pvt.000 Nil 118.350) Nil (0.900.) (12) surplus (excluding revaluation FY03-04 425.097.Information Memorandum Financial performance The financial performance of the company is given below Particulars Share capital Reserves and reserves) Sales PAT Dividend (%) EPS (Rs. 1956 under the name of Navin Sponge Iron Pvt.000 10 1.70 21. 2004 the name of the said company was changed to Gagan Sponge Iron Private Ltd.) FY03-04 100. .000 Nil 188.90 100.R Jindal Shallu Jindal Total Financial performance The financial performance of the company is given below Particulars Share capital 10.10 19.946.900.721.450.667.) BV (Rs.000 19.0037) 9.115.0066) 9.10/-each 1. The Company is engaged in the business of finance.464 FY02-03 425.259 20.380 (156.00.00071) 9.36 1918 FY02-03 100.201. K.000. of Shares 8.

R. The Board of directors of the company comprises Mr. TOTAL No.each Reserves and surplus (excluding revaluation reserves) Sales PAT Dividend (%) EPS (Rs.98 0. 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 10.217.” with effect from March 23.00. Surendranath and Mr. V. 1994 as a private limited company and converted into a public limited company “Baltimore Trading Ltd. 2002.475 20.050 1.4) (69. Saraf and Mr. Ltd.110.670.000 950 900 2 704.00 .10/-each 19.000 2. of Shares 260.000 119.000 74. Starlight Equifin Pvt.98 16.098) Nil (26.651.348 Nil 2.065 1892.5 100. Investment and finance related consultancy services. Deepak Bhat.00 100.00 100. Ltd. Jindal Equipment & Leasing Consultancy Services Ltd.600 1. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Vrindavan Services Pvt. Welworth Equifin Pvt. Anand Goel. Jindal Holdings Ltd.14 0. Ltd.000 19. Gati Securities Pvt.100) 0% Cumulative Redeemable Preference Shares of Rs.16 0.92 28.00 20.646 (1.000 Equity Shares of Rs. Gagan Trading Co.13 0.202 % of shareholding 36. Ltd.56 - .000 192.100 1. Ltd. 1995 and is engaged in the business of finance. Animation Finvest Pvt.13 0.000 10.144.000 200. Ltd.15 0.700 (7.000 Nil 219. It is mainly in the business of investments and trading in securities.00 The Company was incorporated on December 9.452.000 Nil Nil Nil (264.) (14) Baltimore Trading Private Limited 100. K.41. Naman Enterprises Pvt.26.600 119. 1998.40 16.2) FY03-04 FY02-03 FY01-02 No. Ltd.693) Nil (114) (178) 1. The Company’s board of directors comprises Mr. The Company was reconverted into a private limited company on July 26.000 % of shareholding 80.) BV (Rs.598 21. 100/.Information Memorandum The Company was incorporated on March 20. of Shares 8. Wavelength Capital & Finance Pvt.

24) (47.60) (0. 1998. Garg.87) 2001-02 806. Jindal Equipment & Leasing Consultancy Services Ltd.23 225.99) (385. Mr. Vijay Maniar Total No. The Board of directors comprises Mr.49 (15) Kamshet Investments Private Limited It was incorporated on November 16.00 1 0. Mr.33) (0. Mr. Rajeev Pai.31) (0.89 173. Atul Sud Mr. V.30) (0. 1998. V. Shareholding Pattern The shareholding pattern is as follows: Shareholder Vrindavan Services Pvt. Gagan Trading Co.Information Memorandum Financial Information The financial performance of the company (Rs. The company is in the business of investments and trading in securities. R.04) (15.005 (0.000 32.603 100 Financial Information The financial performance of the company (Rs.20 (482.17) (0.39 2 0.60 (934.300 18.47 FY 02 704. 2002.) FY 04 704.02) 31.100 each) Reserve and surplus Excluding revaluation reserve Income PAT Dividend EPS (Rs. Jindal Holdings Ltd.04) (15.25) (0.43 FY 03 704.58) 0.79) (16) Aras Overseas Private Limited The company was incorporated on September 7. 2002. Ltd.300 21. Apurva Jhalani. Dileep Bhatt. 100 each) Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS Rs BV Rs 2003-04 806. .83) 2002-03 806.29) (0. Surendranath and Mr.20 (482.57 - . in lacs) is given below: Particulars Equity Share Capital (shares of Rs.42) 20. The company was reconverted into a private limited company on July 26. in lacs) is given below : Particulars Equity Share Capital (Shares of Rs.88) (0.60 (934.00 (0. This company is in the business of investing and trading in securities.00 806. The Board of directors comprises Mr.000 27. of shares % of shareholding 260.P.” with effect from March 23.04) 31.49 148. P. 1994 as a private limited company and converted into a public limited company “Kamshet Investments Ltd.” with effect from March 23. 1994 as a private limited company and converted into a public limited company “Aras Overseas Ltd. Kole and Mr.) BV (Rs.60 (933. The company was reconverted into a private limited company on August 9. Ltd.20 (482.03) 31.76) (15.

Rajeev Pai. The company was reconverted into a private limited company on August 9. Gati Securities Pvt.320 1.63) (0.41) 0. Ltd.58 - .19 0. Wavelength Capital & Finance Pvt. Ltd.380 1.29 0. Ltd.002 % of shareholding 41.000 164. Vrindavan Services Pvt. Naman Enterprises Pvt.21 0. 2002.27) (0.46 12.65 16. Its board of directors comprises Mr.21 0. Jindal Equipment Leasing & Consultancy Services Ltd. 1998. 1994 as a private limited company and converted into a public limited company “Wachovia Investments Ltd. Ltd.00 . Ltd. Starlight Equifin Pvt.07) 44.48 0.505 96.58 No.) BV (Rs.760 1.00 100. Shareholding Pattern The shareholding pattern is as follows: Shareholder Gagan Trading Co. Jindal Holdings Ltd.18 26. Jindal Holdings Ltd. Animation Finvest Pvt.28 0. Ltd.500 82.10) 44.360 2 633. Jindal Equipment Leasing Consultancy Services Ltd. It is mainly in the business of investments and trading in securities.04) 44.080 1. Starlight Equifin Pvt.45) (0.07 27. Wavelength Capital & Finance Pvt. No.16 100.505 1.Information Memorandum Shareholding Pattern The shareholding pattern is as follows: Shareholder Vrindavan Services Pvt. Animation Finvest Pvt.000 107.41 16. Ltd.22 0. Gagan Trading Co.012 % of shareholding 28. Ltd.00 (351.600 1. Ltd. R.48 FY 02 633.68) (0.17 0.000 175. Kole and Mr. Ltd. Total Financial Performance The financial performance of the company (Rs. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.51 15.000 102. Ltd. Deepak Bhat.020 621.23 0.200 1. Welworth Equifin Pvt. Ltd.00 (350.00 (351.25 0.002 77.500 1. Mr.44 FY 03 633.” with effect from March 23.840 1. 100 each) Reserve and surplus Excluding revaluation reserve Income PAT Dividend EPS (Rs. of shares 175.79) (0.03 0. of shares 260.440 1.98 13. Gati Securities Pvt. Ltd.00 (17) Wachovia Investments Private Limited This company was incorporated on November 16. Ltd. Naman Enterprises Pvt. Ltd. Ltd.) FY 04 633.005 (0. P. Welworth Equifin Pvt.

40) (22.22) 2001-02 621.07) (0. Rajiv Khaitan Mrs.020 % of shareholding 18. Ltd. Ltd.R.32) 0. Kole and Mr.000 1.04 0. Krishne Gowda. Devender Singhal Mr.51) (2. Gagan Trading Co.08) (22.01 (759.46) 0. .77) (22. S. P.70 0. Mr.77) (0. This company is in the business of real estate development.14) (18) Argil Properties Private Limited (APPL) APPL was incorporated on July 6.50 3.50 18.02) (0.000 10 10 27.) BV (Rs.00 (19) Musuko Trading Private Limited (MTPL) MTPL was incorporated on November 14. Mr.01 (758.63) (0.99) 2002-03 621.S.01 (763. Ltd.50 18.51) (126. M.04 100. 1994 as a private limited company and converted into a public limited company “Musuko Trading Ltd. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.000 5.50 18.) BV (Rs.59 - .70 3. P.64 FY 03 2. Sandip Sharma Mr. The company was reconverted into a private limited company on August 26.) 2003-04 621.64 FY 02 2.52) (9. 1994 as a private limited company. Rashmi Khaitan Financial performance The financial performance of the company (Rs.Information Memorandum Financial Performance The financial performance of the company (Rs. Chari and Mr.12) (0. of Shares 5. The company is mainly in the business of investments and trading in securities. Vrindavan Services Pvt. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs. 1998.01 (0.90 No. P.000 5.51) (0. The board of directors comprises Mr. Company’s board comprises Mr. Dileep Bhatt.N. Meredith Traders Pvt. 2002.” with effect from March 23.84 (4. Rishikesh Finlease & Investments Pvt. Ltd. Shareholding Pattern The shareholding pattern is as follows: Shareholder Reynold Traders Pvt.79) 26. Sriram.000 5.70 (2.100 each) Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.70 0. K.70 (2.50 18.26) 9.) FY 04 2.71) (20.000 1. Ltd.000 5.

000 225. Gagan Trading Co.10 100.35 2002-03 769. Ltd.22 0. Jindal Holdings Ltd.070 1.79 29.03 7.S. Animation Finvest Pvt. of shares 4.00 FY 02 0.27 0.45 (513.52 16. 1985.00 100.45 (505.28 0. Ltd. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs. Starlight Equifin Pvt. Ltd.08 (0.45 (505. It has made strategic investment in the shares of South West Port Limited. of Shares 260.03 34. Mr. K. I Qureshi.27 0. Mr.160 2.36 2001-02 769.06) 9.452 % of shareholding 33. Ltd.33 No.05) 33. Wavelength Capital & Finance Pvt.10 0. Vrindavan Services Pvt.24 19. Ltd. Ltd.) 2003-04 769.990 10 10 10.95 1. Welworth Equifin Pvt.39) (0. Shyamlal Agarwal 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) FY 04 1. Shareholding Pattern The shareholding pattern is as follows: Shareholder Sun Investments Pvt.620 1.19 0.60 - . Sushil Buwalka Mr.000 150. Ltd.003 No.990 4.225 2.90 49. Jindal Equipment & Leasing Consultancy Services Ltd. Naman Enterprises Pvt. Sriram and Mr.00 (0.90 0.Information Memorandum Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Vrindavan Services Pvt.00 (20) Nalwa Chrome Private Limited This Company was incorporated on September 2.00 .440 2 769.100 each) Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.16) 0.N.00) (0.21 0.09) FY 03 1. Ltd.225 125. Its board of directors comprises Mr. Ltd.) BV (Rs. Gati Securities Pvt. Ltd.11) (0.710 1. Sanjay Agarwal.01) 34.000 % of shareholding 49. Total Financial Performance The financial performance of the company (Rs.

22) (719. Mr.R.970 24.53) No. Shareholding Pattern The shareholding pattern is as follows: . Bhalerao.Information Memorandum Misc. 1985 as a public limited company.09) (0.13 FY 03 5. Shyamlal Agarwal Mrs. R.960 50.) (0. The company’s board of directors comprises Mr. Asha Agarwal Sun Investments Pvt.000 % of shareholding 0. D. Jindal Mr. of shares 10 10 10 10 10 10 10 24.43) NA NA NA NA 9.61 - .95) 7.10 (0. expenditure not written off /Preoperative expenses Income PAT Dividend EPS (Rs.40) NA NA NA NA 9.) (22) Kavita Securities Private Limited FY 04 5.) BV (Rs.92 100. Sajjan Jindal Mr. V. Sushil Bhuwalka Mr. Anilkumar Agarwal.02 0.00 (0. Ltd Gagan Trading Co. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs. Jayaraman.02 0. 1995. Expenditure not written off/Preoperative Expenses Income PAT Dividend EPS (Rs. Jindal. P.00 (0. Dileep Bhatt.00 The company was incorporated on February 28.02 49.02 0.P.007 (0.20) (0. Mr.60 (0.) BV (Rs. O.38) NA NA NA NA (530. Ltd Total Financial Performance The financial performance of the company (Rs. Urmila Bhuwalka Mrs.02 0. Surendranath and Mr.13) (21) Maharashtra Sponge Iron Limited Maharashtra Sponge Iron Limited was incorporated on September 2.24) 7. R. Mr.02 0. P. Shareholding Pattern The shareholding pattern is as follows: Shareholder Mr.94 49. The company has not yet commenced commercial activity. Kole and Mr.02 0. Sangita Jindal Mrs. This company is mainly in the business of investments and trading in securities.19 FY 02 0. 10 each) Reserve & surplus Excluding revaluation reserve Misc. The board of directors of the company comprises Mr. R.

1995.14) (7. Ltd.98 20.Information Memorandum Shareholder Naman Enterprises Pvt.98 22.R.98 17. Surendranath. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.00 (108.002 (109. Mr.10 21.002 (109. Welworth Equifin Pvt.50) (5452869) No.03) (8. It is mainly in the business of Investments and Trading in securities. Ltd.00 The financial performance of the company (Rs.62 - .00 (108. Ltd.00 (24) Sapphire Technologies Limited . in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.002 (109.00 (109. Total Financial Performance No.Ltd.93) (0. P. V.) BV (Rs. Ltd.98 15. Gati Securities Pvt. Starlight Equifin Pvt. of shares 2 440 320 360 420 460 2002 % of shareholding 0. Ltd.00 100.84) (5342) 2001-02 2. Apurva Jhalani.01) (5348) 2002-03 2. Kole and Mr.00) (5461814) 2001-02 0.) 2003-04 2.50) (5468146) 2002-03 0.64) (5335) (23) Laptev Finance Private Limited Laptev Finance Private Limited was incorporated on February 6. Animation Finvest Pvt. Shareholding Pattern The shareholding pattern is as follows: Shareholder Gauri Investments Pvt.) 2003-04 0.00 50.76) (8.12) (405937. of shares 1 1 2 % of shareholding 50. 100 each) Reserve and surplus Excluding revaluation reserve Income PAT Dividend EPS (Rs.19) (9770. The board of directors comprises Mr. Total Financial Performance The financial performance of the company (Rs.16) (7. Ltd. Wavelength Capital & Finance Pvt.36) (0.22) (0. 100 each) Reserve and surplus Excluding revaluation reserve Income PAT Dividend EPS (Rs.07) (0.) BV (Rs.12) (405. Ltd. Silky Investments Pvt.98 100.14) (7157.

86 0.04 0.93 4. Animation Finvest Pvt. Wavelength Capital & Finance Pvt.31 (8.100 1.) BV (Rs.99 21. N. Shareholding Pattern The shareholding pattern is as follows: Shareholder Welworth Equifin Pvt.99 0. Shireesh Wagh Mr. N. P. Shareholding Pattern The shareholding pattern is as follows: Shareholder Reynold Traders Pvt. Vrindavan Services Pvt.83 1.63 - . V.07 (21. Ltd.60) 121. K. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.02 100. Purohit Total No.S.99 17.25.29 4. Jain.04 0. Ltd.99 15.02 0.Information Memorandum This Company was incorporated on October 5. Kole and Mr.00 .47) (2. Gagan Trading Company Ltd.) (25) FY 04 25. Mr. Ltd.70) 20. It is mainly in the business of investments and trading in securities.S.30) FY 02 25.86 49.00 Rishikesh Finlease & Investments Private Limited Rishikesh Finlease & Investments Private Limited was incorporated on August 12. Its board of directors comprises Mr. Jayant Acharya Mr.050 800 1 1 5.150 900 1. of shares 1. Ltd. Patel.07 (8. Mr. 2000 as a public limited company to carry on the business of software development.000 1. Kantilal Narandas Patel Mr. 1994.50.81 (12. K.61) 14.07 (12. Ltd.90) (5. Dr. Ltd.44 FY 03 25. Gati Securities Pvt.04 0. Sriram K.95) No.04 0. Nowal and Mr. Ltd.25.N. Raman Madhok Mr.04 100. The Company has developed a portal “Steelemart. to act as consultants and advisors on information system etc.08 0.com” through which it conducts auctions for facilitating sale of steel products. of shares 1.70) (3.000 200 100 100 100 100 100 2.15) (0.700 % of shareholding 49. Manish Shah P. Its board of directors comprises Mr.002 % of shareholding 22. Starlight Equifin Pvt.99 20.R. Nirmal Kumar Jain Total Financial Performance The financial performance of the company (Rs. K. Raman Madhok.

50 (4.000 25.000 each. Shareholding Pattern The shareholding pattern is as follows: Shareholder Reynold Traders Pvt.00 (51.00 (51. Its shares are held by Vrindavan Services Private Limited and Sun Investment Private Limited equally.100 each) Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.K. V.79) (0. 1994 as a private limited company. 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) Income PAT Dividend EPS (Rs.22) (847. The company’s board of directors comprises Mr.00 (873. Bavneesh Gulati. 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. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.91 (1736.38) (13.) (27) FY 04 5.) BV (Rs.19) (0.) FY 04 5.000 50.Information Memorandum Financial Performance The financial performance of the company (Rs.01) 1.00 (873.56) (11.00 Jindal Technologies & Management Services Private Limited (JTMSPL) JTMSPL was incorporated on December 3.96) 2700. K.74) 1.77) 0.02) FY 03 5. (28) Jindal Coated Steel Private Limited . Deepak Bhat.95) FY 03 5.35) (1737. Rishikesh Finlease & Investments Pvt.) BV (Rs.64 - . Nowal. V Surendranath and Mr.95) FY 02 5.00 (862. Apurva Jhalani. Mr.03) (0. Ltd.95 1.57) (934. Mr.18) (26) Naman Enterprises Private Limited Incorporated on April 19.00 100.63) No.00 50. the company is in the business of property development.N.37) (87.27 0. Board of directors comprises Dr. Rajeev Pai and Mr.00 (11. Ltd. 2003 to carry on the business of Management & Engineering Consultancy Services. Patel.37) (0. Mr.18 (0.000 % of shareholding 50.17) (1724.00 (47.32) (934. the number of shares being 5. of shares 25.45) FY 02 5.

” on December 12. V. of shares 11. Mr. Shareholding Pattern The shareholding pattern is as follows: Shareholder Reynold Traders Private Limited Tranquil Homes & Holdings Pvt. 1996 and was converted into a public limited company “JBS Steel Products Ltd. R. P. N.60 FY 02 0. The company’s board of directors comprises Mr.009) 5. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Miscellaneous Expenditure not written off FY 04 1.81 (11. Raman Madhok and Dr.66) No.900 100 100 10. Jain. However the project was shelved due to uncertain outlook in the steel market. Ltd.21 FY 03 2200.49) (0.13) 5.” with effect from February 23.000.00 0. Sriram K S N. Presently the company is in the process of diversifying into other business activities.99) 16.) BV (Rs.000 % of shareholding 50.65 - .53 (2.00 (1053.28) (0. Shareholding Pattern The shareholding pattern is as follows: Shareholder Jindal South West Holdings Limited Sun Investments Pvt. The Company is in the business of trading in steels and also has made strategic investment in South West Port Ltd.09) (0.000 22.53 FY 03 1. 2002.05) 5. in lacs) is given below: Particulars Equity Share Capital Reserve & surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.000. K.00 (1051.00 50.85) (0.00 . The company’s Board of Directors comprises Mr.27 No.92 (29.” on August 6.00 (1039. Garg Girish Ghate Total Financial performance The financial performance of the company (Rs. Limited V.22 FY 02 2200. Garg. 2001 and the company was reconverted into a private limited company with effect from July 26. K.00 (0. 1998. V. Ltd.63 0.00 1. of shares 4. The name of the company was changed to “Jindal Coated Steel Ltd.42) 0. Nowal.000 11. The company had commenced a project for setting up an organic coated steel plant.00 100. D. Total Financial performance The financial performance of the company (Rs.) FY 04 2200.00 49.000 % of shareholding 49.02 (0. 1996 as a private limited company.900 4.83) 8.00 1.000.00 (29) Dhaman Khol Engineering & Construction Co.Information Memorandum The company was incorporated as a private limited company “JBS Steel Products Pvt.92) 0. Private Limited Incorporated on January 12.00 100. Bhalerao and Mr. P. Mr.

31 234.100 102. P.27% 100.Information Memorandum Income PAT Dividend EPS (Rs. The Board of Directors comprises: Mr. Prithvi Raj Jindal Mr.13) (0.400 12.K.685. Ratan Jindal Jindal Vijayanagar Steel Limited Gagan Trading Company Limited Sun Investments Pvt. Krishna Deshika Mr.) BV (Rs. The plant has been operating since January 2000 at PLF of over 95%.46 0.) BV (Rs. in crores) is given below: Particulars Equity Share Capital Reserve & surplus Excluding revaluation reserve Operating Income PAT Dividend EPS (Rs. Abraham Mr.T.66 - .00 295. It is engaged in the business of power generation. Jain Mr.) FY 04 289. Karnataka.56 6.11 1. Raaj Kumar Mr.43 195.35% 10.00% 0.74 13.73 No.24 FY 03 289.000 289.35) (459. Jayaraman Iyer Shareholding Pattern Shareholding Pattern is as follows: Shareholder Jindal Strips Limited Jindal South West Holdings Limited Mr.00 100.48 (11.03)(15.77 20. JTPCL has set up a 2X130 MW thermal power plant.88 278.38% 35. Limited Total Financial Performance The financial performance of the company (Rs.) (30) Jindal Thermal Power Company Limited 430.00% 0. Sajjan Jindal Mr. 1994.00 79. Sajjan Jindal Mr.655.499.47 FY 02 289.160.56 1. of Shares 100 100 100 100 100 144.000 % of Shareholding 0.00% Chairman Vice Chairman Joint Managing Director & CEO Director Finance Director Director Nominee of ICICI Nominee of IDBI . District Bellary. R. Raman Madhok Mr.14) (1. JTPCL consumes about 20 MW as auxiliary consumption and supplies about 140 MW of power to JVSL and about 100 MW to KPTCL. N.33 (0.05 10.40) (0. Limited Vrindavan Services Pvt.00% 0.00% 50.01) 41. in Toranagallu village.000 29.000.55 21.00 231. Balaji Swaminathan Mr.00% 4.96 12.00% 0. K.20 56.90) JTPCL was incorporated on March 10.

of shares 5000 55.000 10. Company’s board of directors comprise of the following directors: Mr. has a production capacity of 2.43% 5.3.600.) BV (Rs. Austria is the first plant to . Spread over 3500 acres of land. The scheduled time for commissioning of Unit I is April 2005 and for Unit II is October 2005. JPL is promoted by Jindal Thermal Power Company Limited and the other Companies of the Groups.200.000 2. 78. It has been promoted by JISCO and its associated companies and Karnataka State Industrial Investment Development Corporation Limited (KSIIDC).500 Cr.) (32) FY 04 Rs.02% 12. 6.Information Memorandum (31) JSW Power Limited (JPL) JPL was incorporated on January 3.86 No. The plant.00% 43. which will be captive to Jindal Vijayanagar Steel Limited (JVSL).700 100 100 100 33.93% 34. 1956.5 mtpa of HR coils with an investment of around Rs.T. JPL is setting up two power plants with the capacity of 100 MW each. Krishna Deshika Mr.50% 0. K.400 26.000 78.739.00% 0. Upinder Singh Mr.000 % of shareholding 0.05) NIL Commercial Operation yet to begin Commercial Operation yet to begin Nil Commercial Operation yet to begin Rs.00% 0.79% 100. N. J. Sanjay Sagar Mr.600 4. Raaj Kumar Mr. K. which uses COREX technology from Voest – Alpine.000.K.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 15.640. namely: Unit I and II.000 200.67 - .01% 0.07% 0. 2003 under the Companies Act. Varkey Shareholding Pattern is as follows: Shareholders Gagan Trading Company Limited Jindal South West Holdings Limited Vrindavan Investments Private Limited Sun Investments Private Limited Reynolds Traders Private Limited Naman Enterprises Private Limited Jindal Coated Steel Private Limited Jindal Thermal Power Company Limited Silver Steel Limited Hexagram Investments Private Limited Euro Ferro Alloys Private Limited Total: Financial Performance The financial performance of the company for the first year is given below: Particulars Equity Share Capital Reserves and Surplus Sales PAT Dividend EPS (Rs. The company is also now setting up of two 30 MW power plant in SISCOL premises. 9. Bellary District.26% 3. JVSL's plant located at Toranagallu.2 crores (as on 3. Jain Mr. 1994.959.

82% 0.59% 100.69 # 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.Total Non-Promoter's Holding Institutional Investors Mutual Funds and UTI Banks.42% 0.25% 3.Information Memorandum use oxygen-based Iron and Steel making in the country with continuous casting and hot strip mill.68 - .04 (110.83% 1. JVSL manufactures high quality Hot Rolled Coils. Plates and Sheets and is the only flat Steel Producer in South India.Total Grand Total No.98 195.Indian Promoter's .03% 22.Foreign Promoter's Persons acting in Concert Sub .16% 3105142 2.72% 6. Finacial Institutios. Shareholding pattern as follows: - Category A Promoter's holding Promoter's * 1 2 B 3 A B .08 Nil 3590. in crores) is given below: Particulars Share capital Reserves and surplus (excluding revaluation reserves) Sales (including Excise duty) PAT Dividend (%) EPS (Rs.37% 16.53% 0.Total Others Private Corporate Bodies Indian Public NRIs/OCBs Any Other(Please Specify) Trust Huf Sub .) # BV (Rs.00% 47.Institutions /Non-Government Institutions) FIIs Sub . Insurance Companies (Centeral/State Govt.92 6.86) 1.67) Nil (0.41% C 4 A B C D 28028571 7901485 39035198 4346484 21715128 2354540 684458 43980 29144590 129039142 21.30 2003-04 1631.97 7035.13 2329.11 80% 64.68 Nil 3.12% 30. of Shares held % Shareholdings 55154742 5704612 0 60859354 42.) 2004-05 469. Financial Performance The financial performance of the company (Rs.28 2002-03 1352. JVSL was set-up as a backward integration facility for production of hot rolled coils for JISCO.03 Nil 2786.49 528.74% 4.00% Stock Market Data .90 870.

95 18. Seshagiri Rao M. The name of the company was changed to Jindal Steel and Alloys Limited.80 18. 5127 complaints have been resolved and 154 complaints are pending. 391.40 11.I. Out of 5255 complaints (related to shareholders) received during the period 01.70 22. Roy Mr. 2000 (appointed date) on a going concern basis for a consideration of Rs.90 14.40 356.N.35 The market price of shares of JVSL (as on April 4. David Chandrasekaran Mr.10. Ramaswamy P.20 15. Anthony Paul Pedder Dr.00 18. S. JVSL as a consolidated entity has acquired significant strength with strong financials.M. 1993 in the name of Kay Kay Cold Storage Private Limited.25 15. The said scheme has been sanctioned by the Hon’ble High Court of Mumbai and Karnataka and has since become effective from 4th February.Information Memorandum Month/Year March/2005 Februvary/2005 January/2005 December/2004 November/2004 October/2004 BSE High (Rs. 2003. 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. Sajjan Jindal Dr. Balaji Swaminathan Mr. 35 crores. 2005) on BSE was Rs.30 crores.2004 to 31.69 - .049. Board of Directors details as follows . Gupta Mr.2005. IAS Mr.50 356.65 13. Gokul Ram. After the merger.67 12. depending on the type of complaint.99 11.30 and the market capitalization was Rs. 2005.V.00 13. facilitating for organic and inorganic growth. 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. 5. Raman Madhok Mr. Managing Director & CEO Jt.) 457.K. IAS Mr. The scheme has been made effective on October 3. The Board of Directors of the merged entity comprises: Smt. Through a scheme of Arrangement and Amalgamation between JISCO.) Low (Rs.65 22. B.03. JSWHL and JVSL (“scheme”). Pursuant to scheme of arrangement sanctioned by High Court of Punjab & Haryana.75 12.N. N. Singh Mr. 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. R.) 458.00 11.00 14.40 11. The company was incorporated on June 10.80 18. Aiyar (33) Jindal Steel & Alloys Limited Chairperson Vice Chairman & Managing Director Jt. Savitri Devi Jindal Mr.10 NSE High (Rs. the steel business of JISCO has been merged with that of JVSL from the Appointed Date 1st April. 2000.79 12.S Dr. Vittala Murthy.) Low (Rs. The company has its investor service center at Mumbai and has engaged the services of a Registrar & Transfer Agents to handle investor grievances. The average time taken by the company for redressal of complaints varies from 7 to 15 days.90 14.

9786 500 0. Jain Mr. Ram Chandra Sharma Dr.00 3005.Information Memorandum Name Mr. K. Om Prakash Agarwal Shareholding Pattern is as follows: Shareholders Jindal Strips Limited Mr. R. Mr. P.0071 500 0. Sushil Bansal Mr.0014 100 0.34 17005. Jindal Mr.0014 100 0.) BV (Rs.00 53. Limited Total Financial performance No. Shareholding Pattern The shareholding pattern is as follows: Shareholders Jindal Vijayanagar Steel Limited Mysore Minerals Limited Gagan Trading Company Limited Sun Investments Pvt.00 1500 15. Kole Mr. Krishne Gowda.00 1500 15. It is in the business of mining and extraction of minerals.83 9808. Raman Madhok Mr. Gupta. N. N.02 The company was incorporated on June 17. Rajeev Pai Mr.78 1. Ratan Jindal Mr. Patel Mr. Smt. N. K.68 109. of shares % of shareholding 70. 1997. K.00 . Mr. Dr. U. The board of directors comprises Dr. Raman Madhok. K. Rajeev Pai Total Financial Performance: Designation Managing Director Director Director Director Director Director Director Director No. P. Venkateshan and Mr. Anil Sood. in lacs) is given below: Particulars Share capital Reserves and surplus (excluding revaluation reserves) Sales (Net of Excise) PAT Dividend (%) EPS (Rs. A.80 FY01-02 702.500 99.00 10000 100.06 21569.28 70. of Shares % of shareholding 4000 40. Yogendra Tripathi.56 52. Singh. Mr. Patel Mr.00 3000 30. Subhash Sharma Mr. metals.) (34) Vijayanagar Minerals Private Limited (VMPL) FY03-04 702.77 52.18. ores etc. Vinod K. Jija Madhavan Hari Singh.0014 100 0. O. Singh.27 0. V. Mr. B. Nowal Mr. M.00 3075. Mr. N.00 2951.82 FY02-03 702. P.0000 The financial performance of the company (Rs.0014 7020000 100.24 54.0071 100 0. S.0014 100 0.70 - .49 1.

30 0. Bars and Rods at its integrated steel plant located at Pottaneri/M.55.04 100% .3 mtpa. Mr.74 (61.100 7. 1995.10) 1. FIs and Insurance Companies Private Corporate Bodies Indian Public NRIs/OCBs Total Financial performance The financial performance of the company (Rs. In terms of the CDR approval and as per approval by the shareholders of SISCOL and by SEBI. 2004 is as follows: Category Promoters and Promoter Group (a) JSW Group (including Mr. K.664.39 10 FY 03 1. N.64 0. Shareholding Pattern The shareholding pattern as on December 31.051. Mr. K. Mr.08 0.00 (629.) BV (Rs.in lacs) is given below: No.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. Sajjan Jindal. Sajjan Jindal) (b) TIDCO Sub Total (a)+(b) Other Shareholders Mutual Funds and UTI Banks. 1991 as a Public Limited Company promoted by M/s. Steel Melting Shop in January 1999. LMW has sold their entire shareholding in SISCOL to the Jindal South West (JSW) Group. The Company started commissioning its units with iron making division and power plant in 1996.00020 (568.82.01 3. and is referred to BIFR.974 3. Vijay Sharma.90 (568.) (35) FY 04 1. Sinter plant in August 1997.88 166. Billets. (LMW) and Tamil nadu Industrial Development Corporation Ltd.Information Memorandum The financial performance of the company (Rs.50.92 50. Jain. 2004 within the meaning of the Sick Industrial Companies (Special Provisions) Act. Mr.00 (463.850 % of shareholding 39. which is headed by Mr.100 29.16) 2.00. Steel Billet and Rolled Steel products in the long product category. Lakshmi Machine Works Ltd.700 10. V. The Company has become a Sick Company as on June 30.000 56.000 82. Kshirsagar. 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. Krishna Deshika. of Shares 3. S. The Company operates an integrated steel plant having facilities for production of Pig Iron.55) 1. Mr.42.976 29. Air Separation plant in June 1999 and Bar and Rod Mill in May 2002.00.71 - .000 3.21. V. Shanmugasundaram. P. The Company is in the business of manufacturing Pig iron. (TIDCO). It also has plants for generation of power and production of oxygen.93 45. Prakash. The capacity of the plant is 0. The board of directors of the company comprises Mr. Kalipatti villages.39.71 10.71.289. Kamal Kishore Gupta and Mr. T.50. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Sales PAT Dividend EPS (Rs.

25) FY02-03 16039.J.24 7607. of shares 1. resolved/replied 16 and Pending Nil. 2005) on BSE was Rs.30 23. The average time taken by the company for redressal of complaints is up to two weeks.20. 2005 and closes on April 29. The company’s name was subsequently changed to SWPL in September 2003. Sharma (Joint MD & CEO).24 7607.96 34144.80 21. (including nominees) Dhaman khol Engg.12.06 FY01-02 16039. constructing. designing.45 Low (Rs.95 15.85 51. SWPL has entered into a license agreement with Mormugao Port Trust (MPT) on April 11.43 (4570. Mr.V.60 23.000 84.80 FY03-04 (15 months) 16039.31) (16.96 4930. Sajjan Jindal.) Stock Market Data Month October 04 November 04 December 04 January 05 February 05 March 05 BSE High (Rs.K.75 34. 2005.Information Memorandum Particulars Share capital Reserves and surplus (excluding revaluation reserves) Sales PAT/(Loss) Dividend (%) EPS (Rs.05 20. Shareholding Pattern The shareholding pattern is as follows: Shareholder ABG Heavy Industries Ltd.182.56 (15340.K. V.00 21.) 18.47) Nil (6. own. financing. depending on the type of complaint.10 18.24 7607. Nowal.67) 10.72 - .49) Nil (20. Co.000 % of shareholding 26. Raman Madhok.11 The Company’s rights issue is open since March 31. Saket Agarwal. operating and maintaining two dedicated bulk cargo berths at MPT on a build. engineering.20.The market price of shares of the company (as on April 15. Status of Investor Complaints received during the period from October 2004 to March.) 14. The board of directors of the company comprises Mr.96 26844. (C) Associate Companies (1) South West Port Limited (SWPL) SWPL incorporated on June 26.) BV (Rs. operate and transfer (BOOT) basis. Pvt. & Const. 1999 for the development.23 .10 and the market capitalization was Rs. equipping. Mr.24.05) 4. Nasser Munjee and Mr. 2005 – Received 16. Captain B.00 18.85 24.43) Nil (3. owning. The company has engaged the services of a Registrar & Transfer Agent to handle the grievances of the investors.38 (2771. Dr. 1997 as a private limited company known as ABG Goa Port Private Limited and promoted by ABG Heavy Industries Limited (ABGHIL). Ltd No.05 crores.

36 9.11 11. The Shares of the SWPL are not listed.01 NIL 2. 10 each) Reserves and surplus (excluding revaluation reserves) Income (incl. N. Sharad Madhok.) BV per share (Rs.00. Financial performance The financial performance of the company (Rs. K.5% Secured Redeemable Non Convertible Debentures of the Company are listed on The Stock Exchange.910.80. Mr.00. Mr. Mumbai. Mr.00 450. Qureshi.877.21 9. of shares 11.91 13. other income) PAT Dividend (%) EPS (Rs.571.551.000 15.10 NIL 1. Mr. Moosa Raza.20.) Note: Audit for FY 2004 has not been completed yet. I.752.59 No. FY 2003 FY 2002 FY 2001 15.00 15.03 NIL 1.31 16.85 FY 03 1150.00 100.62. Ltd. 9. Vikas Sharma.000 % of shareholding 74. Venkatesh Prabhu and Mr.17 1.79 22.95.00 26. C.37 2.47 2. John Panikar.00 4. 1995 and manufactures liquid and gaseous Oxygen.00 7.000 45. Mr.Information Memorandum Tranquil Homes & Holdings Pvt. Jain.24.82 FY 02 550.938 1.000 23. Asit Gangopadhyay.17 100.062 4. Shareholding Pattern The shareholding pattern is as follows: Shareholder Praxair Pacific Private Limited Jindal Vijayanagar Steel Ltd.00 -28. However. Total Financial performance The financial performance of the company (Rs.K.24. Mr. Gerry Reidy. Muralidhara.248.000 3. in lacs) is given below: Particulars Equity Share Capital Advance against Share Capital Reserve & Surplus Miscellaneous Expenditure not written off BV (Rs.600. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs. Nitrogen and Liquid Argon.98 9.79 845. Kalyana Sundaram.81 9.43.00 --7.02. Mr.00. Mr. Nalwa Chrome Pvt.200. 2004 the Company has issued 11229900 equity shares.42 3.73 - . Mr.20.89 27.11 25.85 Since the company had not started commercial operation till FY04.604.01 --53. no profit and loss account has been prepared by the company.718.200.) FY 04 3497. Ltd.01 12.10. The Board of Directors of the company comprises Mr.00 After March 31. (Including Nominees) Silver Steel Ltd Total 1. (2) Jindal Praxair Oxygen Company Private Limited (JPOCL) JPOCL was incorporated on September 27.00 .

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

instrument. After giving effect to the above Scheme during the Financial Year 2004-05. the Company continued to hold its investments in Jindal Group Companies in addition to providing of consultancy services. any adverse financial impact on the operations / business / performance of investee companies will have negative impact on the revenue of JSWHL.50 lacs. without any further act. 529. 560. Therefore. Pursuant to the Scheme of Arrangement and Amalgamation approved by Hon’ble High Courts of judicature at Bombay and Karnataka. During financial year 2002-03 the Company raised additional share capital of Rs.70 lacs. the Investment Division of JISCO. During financial year 2001-02 since the Company had not commenced any commercial activity.96 lacs as against Reserves and Surplus of Rs.06 lacs. pursuant to the provisions of Section 391-394 of the Companies Act. 0. no Profit & Loss account was prepared. . 1956.66 lacs mainly comprising of dividend and interest income and the Profit after Tax amounted to Rs. 5 lacs and made investments in Jindal Group Companies to the tune of 8. 2005 stood at Rs.75 - .48 lacs. In financial year 2003-04. The Company raised equity share capital of Rs. 5 lacs and incurred pre-operative expenses to the tune of Rs. 1109. 2001. the Income of the Company for the year ended March 31. 52121.Information Memorandum MANAGEMENT DISCUSSION & ANALYSIS Performance in successive periods The Company was incorporated on July 12.28 lacs. The share capital of the Company stood at Rs. Risk & Concerns JSWHL’s main source of income is dividend on investments made in listed / unlisted companies. or deed. 0. The Company also provided consultancy services resulting in an income of Rs. stands transferred to and vested in JSWHL.

increase in interest during construction and foreign exchange variation also resulted in a cost overrun of the project.50.00 320. The actual project cost up to March 31.00 32.77) 1093.92 1944.43 23.00 134.50.00 530.78 197.84) (0.00 162.000 equity shares of Rs.25 mtpa of HR coils in June 1994 was estimated to be Rs.000 14% secured redeemable Partly Convertible Debentures (PCDs) of Rs.00 126. When the company started operation of the integrated steel plant after recommissioning of Corex.00 537.30 (34.93 1740. These issues opened for subscription on February 10. 3300 crores including margin money for working capital.00 725. hot charging systems in Hot Strip Mill were added to enhance the overall capacity of the integrated steel plant to 1.00 151.08 1548.000 Partial Optional Convertible Debentures (POCDs) of Rs. converter caster.00 129.29 (148. 70 each for cash at par aggregating Rs. 40 each for cash at par aggregating Rs.00. 10 aggregating Rs. During the initial project implementation.50 crores.57 mtpa.Information Memorandum PROMISE VERSUS PERFORMANCE The details of shortfall in promise vs.00 17. 1995.00 738.67 80.00 34. 10 each for cash at par aggregating Rs.04) 1220. 25.30) 0.48 (29.00 0.00 162. These issues opened for subscription on March 23.00 614.27. 135 crores and (b) 27. the steel industry as a whole witnessed historically low level of selling prices on account of a global down turn. 1090 crores.50 crores and (b) 35. 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. The commissioning of the plants was delayed due to technological issues. 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.18) (148.84) 801.000 equity shares of Rs. A comparison of promises versus performance is given below: . Delay in disbursal of loans and non-receipt of call money caused a further delay in project implementation.00.00 78. Public Issue of Jindal Vijayanagar Steel Limited The company had come out with two simultaneous but unlinked public issues of (a) 13.77) (34. 6226 crores. modifications were effected to the basic design of the main plant and additional plant/facilities like pellet plant.00 134.00 317.04) (29.00 931.68 21. 2004 was Rs.00 524.25.20 47. Capitalisation of preoperative expenses incurred during prolonged trail run.00 623. 10 each for cash at a premium of Rs.23 183. 24.00.18 (0.00 (0.18) The project cost to set up an integrated steel plant of capacity of 1. Public Issue of Southern Iron And Steel Company Limited The Company had come out with two simultaneous but unlinked issues of (a) 1. Corex 1 was recommissioned after a lapse of one year by carrying out rectifications/modifications.76 - .37 0. 1995.00 180.87 84. A comparison of promises versus performance is given below: (Rs.

with pyro metallurgical equipment and machinery. The lower capacity utilization was due to non-availability of input materials in time.66 5. the cost of project went up substantially adding to the fixed cost component of its finished products.08 (4. especially at blast furnace. electricity etc.35) (13.87 5.08 (24.00 75.00% Trial prodn.52) 17.54 76.19 214. blast furnace.45 (12.49 (1.25 (18.08 (4.37 37. The main reason for this was depressed steel market scenario with low demand and low selling prices.29 4.61) (18.72% 16.00 86.31 4.) Book value (Rs) 183.00% 27.12 21.51 - 47.61) (13.01) 5. Frequent stoppages of ASP caused substantial increase in cost of up-keep for the equipment. adversely affected the equipment and the life of refractory lining.45) (4.725 70.99 39.50 230.50 265.55 19.42) (12. The plant.29 4. the Company took various steps to improve operational efficiency.71) (21. 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 .80 17.00 75.88) (12.44 7.45) 5. lower demand and lower sales realization.00 (2. being an integrated steel plant. requires uninterrupted operations. Frequent shutdowns and start up at blast furnace has led to excessive consumption of costly input materials such as coke and furnace oil. In view of external factors such as adverse market conditions. Cryogenic equipment such as ASP is not designed for any stoppages and is expected to work with uninterrupted operations for years together.70 10.14 FY 98 Projection Actual 214.47 28.00% 261.e.91 3.77 - . While the cost of input.725 90.86) Due to delay in disbursal of funds by the financial institutions for project completion.78 75.50 301.71) (14.98 46.80 14.55 (33.18) 75. FY 97 Projection Actual 214.06 21.58 60.37) 47.46 15.78 51. energy i.45 116.41 183. the selling prices showed a decreasing trend.61 75.00 (2.00 FY 99 Projection Actual 214. competition.53 (21.35) 75.725 41.42) 75.34 51. the fixed cost and semi-fixed cost components such as manpower.91 25.37 75.725 22.500 0.88) (12.27 1.37 (4. decrease wastage.79 101. mainly raw material.94 22.13 84.81 48. also substantially contributed to a high cost of production.21% 65.49 37.63 1.47 214.66 75.16 62.78 (24. power and furnace oil increased.86) 8.725 80.44 9.01 2.37) 70.00 49.28 0.34 29.70 29.00% 87. reduce cost of production and to improve quality.00 70. which was even below the cost of production.35 65.52 9.00 (1.Information Memorandum (Rs.46 37.34 8.56 5.74) 12.00 75.27 (7.00 161. Due to under-utilization of capacity at iron making and steel making stages and almost no capacity utilization in BRM. The shutdown of operations. Every start up required liquid oxygen to be purchased from external source.89) 19.55 (33. Air Separation Plant (ASP) and boilers of power plant and Energy Optimization Furnace (EOF).95 7.13 0.72) 19.60 (7. 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.42) 17.18) (14. The unscheduled stoppages .79) 8.89% 293.48) 17.00 113. which added to the cost.80 76.96 21.500 76. Due to frequent stoppage and start-up.00% 228.17 15. which in turn was due to non-availability of working capital.725 214.42 0.% Net cash accruals Equity capital Reserves & surplus EPS (Rs.

1 crores. 2. Consequent to the change in the configuration of the mill.17 crores. The project had suffered a cost overrun from Rs. due to shortage of working capital. However. The Company had originally planned to import a second hand mill at a cost of Rs.1035 crores in September 2001. 360 each for cash at par aggregating Rs. 35. However.87 crores to Rs. the new promoters.151 crores mainly on account of additional interest during construction of Rs.06 crores. Revision in September 2001: The Company had commenced production from part of the facilities. increase in trial production losses capitalized of Rs. The increase was mainly on account of the increase in the interest during construction of Rs. 450 crores at the time of original appraisal to Rs. 1035 crores. 688 crores in September 1997. 4. 19. 1035 crores till completion of project in January 2003. 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.79.Information Memorandum also resulted in huge inventory of high value items like ferro alloys.5% Partly Convertible Debentures (PCDs) of Rs. there was an increase in the cost of project estimated at Rs.96 crores and balance mainly on account of the cash losses on sale of the intermediate products. The original cost estimated at Rs.101. 34. the Company could commission only the first phase of the project (iron making facilities) by July 1996. the present project expansion is being implemented by the JSW Group. 143. and executives who have experience in implementing projects in the area. 280. The Company later entered into a contract for 0. which blocked working capital and increased interest cost. exchange fluctuation of Rs. The project has witnessed time and cost overrun since inception due to various reasons outlined above. As a result.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.71 crores and pre-operative expenses and interest during construction by Rs.12. 238 crores increase in the project cost as appraised in September 1997. because of an increase of Rs.08 crores. was delayed. 839 crores in August 1999 and finally revised to Rs. However. there was an increase of Rs. other pre-operative expenses of Rs. the implementation of the project. 12.78 - . The Company’s project was originally scheduled for completion in March 1996. 27. 44. Revision in August 1999: Due to the depressed capital market conditions. There was also an increase in cost of miscellaneous assets to the extent of Rs. the facilities were shut down from November 2000. 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.203 .18 crores.91 crores on the foreign currency loans.6 mtpa of Sponge Iron and 0. 25. Public Issue of Jindal Strips Limited In 1992. mainly due to delays in acquisition of land.30 mtpa mill at a cost of Rs. 839 crores.05 crores.108. 46 crores including refurbishing cost for a 0. with commercial production in April 1996.05 crores. an increase by Rs. to enhance capacity from 0. the company came out with the rights issue of 77.10 crores for meeting a part of the Rs. 450 crores in July 1994 was revised to Rs. the Company could not raise the public portion of the additional equity aggregating Rs. capital equipment costs not originally envisaged (electro-magnetic stirrer) of Rs. which was scheduled for completion in October 1998.22 mtpa mill. to Rs.5 mtpa of Pig Iron and to put up a captive power generation unit of 45 MVA based on waste heat of the flue gases from Sponge Iron . 196 crores compared to the previous appraisal of Rs. The project cost was reappraised in September 2001 to Rs. 12. 839 crores.28 crores consequent to delays in the implementation of the project. Due to the gap in the means of financing.1 mtpa Sponge Iron/Pig Iron to 0.

000 MT 200.719 490 46.000 MT 100. not successful for the company.82 15. therefore.000 MT 200.00 449. Sponge Iron was to be manufactured from the Rotary Kiln (6 kilns each of 0. Fixed Assets Others Total Planned costs Actual costs 1.68 28.000 MT 100.566 97.34 147.99 2.62 355. the kilns and submerged arc furnaces were expected to be installed by March 1994. The Submerged Arc Furnace installed initially was utilized for manufacturing Ferro Chrome.175 nil 20. 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.916 2.Information Memorandum plant at Raigarh. cumulative till 1995-96.89 345. The company. 50% for 1993-94 and 70% for 1994-95 for its new project.000 MT 200. in crores): Land & site development Building Plant & Machinery Misc.449.1 mtpa) and the Sponge Iron in hot stage.757. without having the cooling cycle operation. Madhya Pradesh. The company expected to achieve a capacity utilization of 30% for 1992-93.000 MT 200. The cost overrun was due to the time taken for selection of appropriate equipment on the basis of technical and environment control aspects and price escalation. The 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. was Rs.79 99. This technology was.79 - .000 30 MW Production 97 75 11. This issue opened for subscription on March 9.41 19.000 MT 100.000 kwh Utilisation 4% 3% 11% 0.5% 23% 1% 26% 43% 10% .734 513 5.000 MT 300. was to be transferred to Submerged Arc Furnace for manufacturing Pig Iron. 1992. As per the original plan.36 85.62 57. and problems were also faced by other steel manufacturers. changed the plan for manufacture of Pig Iron and decided to install 2 Electric Arc Furnaces of 50 tons each for manufacturing Mild Steel.000 MT 100. A comparison of promises versus performance is given below: The cost of fixed assets in the project is as under (Rs. however.52 The actual project cost.

3.000 500. 10 each for cash at par aggregating Rs. 1986.000 200.000 500.850 45.771 300. The actual capacity utilization is close to the projected figures except for some differences encountered during the process of stabilization of equipment.92.992 crores. The project was completed on 13.970 35.745 7. Public Issue of Jindal Saw Limited In 1986.000 45 MW 30.447 78.667 kwh 1.613. . thick walled large diameter SAW Pipes.80 - .380 69. This issue opened for subscription on July 7.1987 and commercial production was started.000 equity shares of Rs.000 204.731 66% 23% 6% 71% 14% 26% Note: Capacity utilisation % has been worked out after considering commissioning period. to set up a project for the manufacture of high pressure.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 30 MW 30.073. 1. the company came out with the public issue of 19.

Against Promoter / Group / Associate Companies of JSWHL (A) (1) Sr.291/. has filed an . O.Information Memorandum OUTSTANDING LITIGATION AND MATERIAL DEVELOPMENTS Save as stated herein: • There are no outstanding or pending material litigation. A decree of Rs.6) …Defendants Jindal Strips had accepted hundis worth Rs.15% Facts 1. Against JSWHL by employees There is no outstanding litigation against JSWHL by its employees. Directors or Promoter Group companies. (Resp. There are no material defaults.40. The United Western Bank Ltd. No. 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. Hindustan Foil Ltd. Parties Pending Before DRT. its Promoters.213 of 2001 Benares State Bank Ltd. criminal or civil prosecution. No.drawn by Hindustan Foils and discounted the same with the Applicant Bank. institutional or bank dues or dues towards holders of debentures. 86.291/along with interest is sought against Jindal Strips Amount Involved (Rs. 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. & Ors. 86. Promoter Companies Jindal Strips Limited Case No.) 86.40.291/together with interest @22. By JSWHL against its employees There is no outstanding litigation by JSWHL against its employees. No. … Applicants Vs.A.40. other than unclaimed liabilities of the Company. its Promoters or Promoter Group companies. Jindal Strips Ltd. Hindustan Foils Ltd. suit. bonds and fixed deposits and arrears of preference shares. • Against JSWHL There is no outstanding litigation and default against JSWHL. New Delhi for Hearing Subject of the Matter Recovery Suit for bills dishonoured by Hindustan Foils. non payments or overdues of statutory dues.81 - .

27010 of 2004 Jindal Strips Ltd. Special Leave Petition No. 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. …Respondents Supreme Court of India for Hearing Joint Venture Partnership between Industrial Development Corporation of Orissa Ltd. - Sanjay Kumar …Plaintiff V/s. .R. Hisar for Hearing Injunction Suit - 3. ("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. …Defendants Civil Court. Jindal Strips has Appealed against the aforesaid order in the Apex Court. …Petitioner V/s. Other companies and organisations viz.Information Memorandum application for registering itself as a Sick Industrial Unit with BIFR. State of Orissa & Ors. Jindal Strips Ltd. TISCO and VISA had also filed Petitions challenging the selection of Jindal Strips as JV Partner of IDCOL. Jindal Strips Ltd. The application is presently pending before A.) 2. has also filed seven suits against Hindustan Foil to recover an amount of Rs. 45 lacs (approx.F. IDCOL had invited bids for forming a JV with in respect of Tangarpada Mines and selected Jindal Strips as its JV Partner.1.82 - .I.

No. 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.83 - . has filed an Intervener Application in a case filed by Indian Charge Chrome Ltd.9 of 2002. State Govt. on the ground that interest of the Petitioner and that of Jindal Strips Ltd. is identical in nature.Information Memorandum 4. And Jindal Strip Ltd. …Applicant Supreme Court of India for Hearing Lease of Mines . Supreme Court of India I.A. Union of India & Ors. V/s. I.2 of 2004 In SLP (Civil) No. Indian Charge Chrome Ltd.469 of 2003 In Transfer Case No. No. under Section 11(5) of the MMRD Act. GMR Technologies & Industries Ltd. Intervention Application of JSL shall be considered only if review petition is allowed. Jindal Strips Ltd. The Petitioner has sought review of the said judgment from the Supreme Court.2 of 2004 In Review Petition (Civil) No. Supreme Court of India for Hearing - - Jindal Strips Ltd.A. & Anr. 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. 1957 in relation to Sukhinda Valley / Sukhinda Mines. decision to allocate the entire 436. & Ors… Respondents And Jindal Strip Ltd.6788 of 2004 State of Orissa …Petitioner V/s. Indian Charge Chrome Ltd.295 hectares in Sukhinda Mines to Orissa Mining Corporation contrary to Chahar 5.17250 of 2003 In Civil Appeal No.

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.

- 84 -

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

- 85 -

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: -

- 86 -

25.217 2.15. 1958 Nature of the dues Income tax demand Income tax demand Gift tax demand Forum where dispute is pending 1.000/.05 lacs equity shares of Haryana Concast Ltd from H.has been paid on October 20.960 ITAT. 1. b) The Company has given 1376677 equity shares of Jindal Iron & Steel Co. f) In respect of bid for 63. Gift Tax Act. Name of the Statue No.15.55 lacs of dividend on 10% Redeemable Cumulative Preference Shares not provided. 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.65.437 Penalty Imposed by SEBI A sum of Rs. Name of the Statue Nature of the dues Amount Forum where dispute is pending CIT (Appeals) New Delhi ITAT New Delhi Income tax Act.I. c) The Company has pledged 4900000 equity shares of Jindal Vijayanagar Steel Ltd & 669 sares of Jindal Iron & Steel Co. Ltd with Deutsche Bank as safe custody of credit facility granted to Jindal Tractable Ltd. 212. 2004 under amnesty scheme for regularisation of Violation of Regulation 6&8 of (Substantial Acquisition of Shares & Takeover) Regulation 1997. New Delhi 61. New Delhi Amount (5) • Jindal Equipment Leasing and Consultancy Services Limited As per Audited Balance Sheet of March 31. . Income Tax Act. Income tax Act. 1.48.56.Information Memorandum Sr. for which no provision has been made.83 lacs.21.S.87 - . Income Tax Act. • Non-payment of dues are as follows: Sr. No. 2. 1961 2.31. 1961 2. 287. Name of the Statue No. 743.C.83. New Delhi 47. 1961 Income tax Act.488 ITAT New Delhi Amount (6) Nalwa Investments Limited Contingent liabilities not provided: a) Disputed income tax Liability Rs.1293.738 ITAT New Delhi 1.75 lacs Cumulative arrear of dividend on 10% Redeemable Cumulative Preference Shares. Rs. Gift Tax Act.78. 2004 Contingent liabilities are: a) Outstanding disputed income tax and gift tax liability of Rs. 715.88.00 lacs. • Non-payment of dues are as follows: Sr.44 lacs (Previous year Rs. e) Rs. 1961 3.807 ITAT.34.730 CIT (A). 399. 1958 Nature of the dues Income tax demand Gift tax demand Forum where dispute is pending 5.D. 175. 1.99 lacs) b) Rs. 1961 Income tax demand Income tax demand 1.

Case No. (GAIL) Delhi High Court Appeal against Arbitration Award Rs. No. Parties Pending Before Subject of the Matter Amount (Rs.I.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. and the same has been challenged by GAIL. The reduction of price is being disputed by Jindal Saw Ltd. (8) Jindal Saw Limited Contingent liabilities not provided for as on 30. b) The company has pledged 2. for credit facility granted to JSPL. The Arbitrators have passed Award in favour of Jindal Saw Ltd.16. in crores 229.88 - . Vs.has been paid on October 20.53 lacs Cumulative arrear of dividend on 10% Redeemable Cumulative Preference shares.Information Memorandum (7) Abhinandan Investments Limited Contingent liabilities not provided: a) Rs.2004 are in respect of: Sr.02 0.. Penalty Imposed by SEBI A sum of Rs.I.02 58. . with I. 2004 under amnesty scheme for regularisation of Violation of Regulation 6 & 8 of (Substantial Acquisition of Shares & Takeover) Regulation 1997. 1. No. 175.264 of 2003 Jindal Saw Ltd. 48 crores (approx.C. Gas Authority of India Ltd.87 4.360 equity shares of Jindal Steel & Power Ltd.00 Civil Matters Sr.09.752.C..) Facts Case No.16 20.) This case relates to the application of Price Reduction formula by GAIL pursuant to the delay in supply of pipes by Jindal Saw Ltd.35 429. Ltd.

(ONGC) Bombay High Court - US$ 60224. under a contract for supply of pipes.12 crores 4. Suit No. The Arbitrators have passed Award in favour of the Jindal Saw Ltd. Bharat Petroleum Corporation Ltd. The reduction of price has been disputed by Jindal Saw Ltd. Vs. (ONGC) Bombay High Court Appeal against the Award of the Arbitrator 1. The reduction of price has been disputed by Jindal Saw Ltd.83 crores 3. Jindal Saw Ltd. ONGC has challenged the Award before the High Court. ONGC has challenged the Award before the High Court. 1. SDJV. Arbitra tion Petitio n No. Dhaka on false and frivolous grounds. Jindal Saw Ltd. Oil and Natural Gas Corporation Ltd. Bangladesh attempted to invoke the performance Bank Guarantee for USD 705698 issued by Canara Bank through Bank of Nova Scotia. Vs. Vs. Jindal Saw Ltd. - M/s. SDJV. Jindal Saw Ltd. Arbitration Penalty for delay in supplying pipes Rs.89 - . Oil and Natural Gas Corporation Ltd. This matter relates to the application of price reduction formula applied by ONGC pursuant to the delay in supply of pipes. The Arbitrators have given the Award in favour of the Jindal Saw Ltd. Appeal No.292 of 2003 M/s.100 2 of 2002 M/s. 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. This case relates to the dispute relating to the applicability of foreign Exchange rates on payments made by ONGC to Jindal Saw Ltd. . Vs.58 5.Information Memorandum 2.

Govind Ram Agarwal Vs. The Complainant has alleged deficiency of services in transferring the shares that were lodged by the Complainant for transfer. Jindal Saw Ltd. which alleges to be the successor of Bank of Nova Scotia. Case No 209 of 2004 and Appeal No A415 of 2003 Sidhanath Saxena Vs. which were transported by CCI under separate agreement with HPCL. contends that all rules and regulations have been observed while transferring the shares and also that the Consumer Forum had no . had supplied pipes to HPCL. It has made JSL as party proforma as supplier of these pipes. District Forum. HPCL filed its insurance claim and got the money.90 - . Case No. The Bank of Asia Ltd. Thereafter. Vs. 2nd Additional District Judge at Vishakapat tam No relief has been sough against the company 7. Jindal Saw Ltd.178 of 1990 United India Insurance Company Ltd. respectivel y The High Court has granted permanent injunction against Canara Bank. Jindal Saw Ltd. Lucknow and State Commissio n.Information Memorandum 6. CCI & Jindal Saw Ltd. Jindal Saw Ltd. Dhaka has filed and application against the injunction. United India Insurance has filed the case at Visakhapatnam for recovery of claim amount from CCI alleging their negligence in transporting the pipes. During the course of transportation some damage was done to pipes.

had undertaken substantial contraction of plant and blast furnace without obtaining prior environmental clearance.11. Criminal Offences 1. The provisions of Section 15 A (1) (0) of the U. Other Indirect Taxes Matter 1.83. 1. Assessing Authority Trade Tax Vs. Jindal Saw Ltd.31 by Jindal Saw Ltd.T.91 - . Criminal Case No 416 of 2004 Gujarat Pollution Control Board Vs. The Assessing Authority imposed 10% tax on value of Company's own raw material consumed in execution of Works Contracts under Section 3-F (2) (b) (1) of U. High Court.T Act 1948.600 The Add. on F.940 3.906 4.E. High Court Allahabad A. 1997-98 Rs. 1995-96 Rs. Jindal Saw Ltd. & Ors First Class Judicial Magistrate.Y. .Y.66. Allahabad A.P.Information Memorandum jurisdiction to try the matter. is disputing the above matter.T Act 1948 for escapement of Tax. This case is in relation to the import of material from M/s P. Assessing Authority Trade Tax Vs. This Appeal has been filed by the Department against Jindal Saw Ltd. 1997-98 Rs. Deputy Commission er (A) Kosi Kalan.T Act 1948 are attracted which stipulates penalty up to 40% of value of material so imported.T. Commissioner has reopened this matter Under Section 21(2) of the U. Jindal Saw Ltd. 5. Under a Notification an amount equal to 20% of Basic Value of own material consumed in execution of Work Contract is stipulated to be taxed. This matter relates to the imposition of interest on tax deposited by Jindal Saw Ltd. Assessing Authority Trade Tax V/s Jindal Saw Ltd. Jindal Saw Ltd. Mundra Environm ental Pollution The Pollution Board alleged that Jindal Saw Ltd. 1991-92 Rs.42.J Pipes Mumbai without Form No. for carrying out job work.Y.694 2.P. variation. Assessing Authority Trade Tax Vs. 1. According to the Board this is in violation of the Environmental Impact Assessment Notification 1994. Jindal Saw Ltd.T.P. High Court Allahabad A.Y. A. 3.

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. 2004 include: 1. the company is in the process of filing appeal to ITAT on the other issue of interest disallowance. 159. Of Wealth Tax ITAT. Dividend on preference shares Rs. Versus Comm. Rs.84 lacs.3. 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.08 lacs Addition of notional interest on security deposits received while computing income from house property and disallowance of interest. Disputed tax demands Rs.16 lacs. property of the company. & 400 equity shares of Jindal Steel & Power Ltd for which the company had to write off the shares & pay dividend received by it of Rs. Mumbai has heard the Appeal and decided in favour of the Company. Mumbai Assessment Year 1998-99 Gagan Trading Company Ltd. (8)(b) of the Wealth Tax Act of the 184.Information Memorandum 5. However. (10) Gagan Trading Company Limited Contingent liabilities not provided for as on March 31. Jindal Saw Ltd.20 Chargeability to Wealth Tax u/s 4 lacs and Rs. of Income Tax Gagan Trading Company Ltd.000. 2. Versus Comm. 567. Mumbai for Hearing Assessment Year 2000-01 592. 2265.42 lacs. The ITAT. Mumbai has decided in favour of the Company. On appeal.92 - . Jindal Saw Ltd. Current Status of Tax Demands Gagan Trading Company Ltd.16. of Income Tax ITAT. 578. On appeal. 1502. Supreme Court of India This matter relates to the applicability of Form 3 B and C.40 lacs .584 has not been acknowledged as debts in view of misappropriation of shares of the company. Assessing Authority Trade Tax Vs. the CIT (Appeals) has decided the matter relating to the addition of notional interest in favour of the company. On further appeal. respectively the CWT (Appeals) upheld the Assessing Officer’s contention. Versus Comm. ITAT. b) The company has lost the case of misappropriated shares for 600 equity shares of Jindal Strips Ltd.

(13) Reynold Traders Private Limited .29 Lacs Details & Current Status Sr. 20. which is yet to be decided.25 lacs. the CIT (Appeals) upheld the Assessing officer’s contention. No. Current Status of Outstanding Litigation Case No. The Company is in appeal to Income Tax Appellate Tribunal. Contingent liabilities not provided for as on 31-03-2004 related to Disputed Income Tax Demand of Rs. of Customs issued a notice under Central Motor Vehicles Rule 126A for nonsubmission of homologation certificate. there was a default relating to interest on OCDs amounting to Rs. The Company is in the process of filing an appeal to the CIT (Appeals). 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. 1 The demand had arisen due to disallowance of set off of brought forward loss of earlier year. Versus Union of India. 2004 pertained to dividend on preference shares (pro-rata) amounting to Rs. Ltd. The demand had arisen due to disallowance of loss on renunciation of Rights shares.56.431. Director General of Foreign Trade (DGFT) and Comm.56 Lacs (12) • • Vrindavan Services Private Limited Contingent liability not provided for as on March 31. 8090 of 2003 Gagan Trading Company Ltd. On appeal.) Facts Writ Petition No. (11) Sun Investments Pvt. which is yet to be decided.54.92 Lacs Addition of notional interest on security deposit received while computing income from house property and the disallowance of interest. The petitioner filed this writ contending that the same was not required.111 Lacs as detailed below : Assessment Year & Amount of Demand 1991-92 Rs. 20 lacs. The Company is in appeal to CIT (Appeals). 2 1993-94 Rs.Information Memorandum Assessment Year 2002-03 Rs. 2004. Parties Pending Before Subject of the Matter Amount Involved (Rs. As on March 31.93 - .

State Sales Tax Dept. . 4. Vs.Y. 2000 the Dept. 199899 3. The Company is in the process of filing an appeal to CIT(Appeals) against the order.20. Vs.Information Memorandum Income Tax Demands For Assessment Year 2000-01. Rs.against the amount demanded. 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. 6. 42. 46.000/. Vs. a demand of Rs.02 208.for the A.76 36.28 Sales Tax Matters: Sr No Parties Pending Before Subject of the Matter Amount Involved (Rs.) Facts 1. Jindal Steel and Power Ltd. The Company has already deposited a sum of Rs. Products produced Rs. 82. Jindal Steel and Power Ltd. By an Order dated April 29.000 against the amount demanded.against the amount demanded. Board of Revenue Denial of benefits for New/Addl. 199798 2. 1.58. Board of Revenue Denial of benefits for New/Addl. The company has already deposited a sum of Rs.75. State Sales Tax Dept. The company has already deposited a sum of Rs.000/.396/.Y.340 for the A. State Sales Tax Dept.30. 2004 are in respect of : Sr.38 14. Crores 459.94 - . The company has been denied benefits on its new/additional products manufactured by it. 20002001 The Company has been denied benefits on its new/additional products manufactured by it. has passed an Order in the favour of the company.946 for the A.14 Lacs has arisen due to levy of penalty u/s 271(1) (c) on addition made by the Assessing Officer due to disallowance of interest expenses claimed by the Company. Jindal Steel and Power Ltd.Y. No.20 5. Products produced Rs.58 7. Board of Revenue Surcharge imposed and less set-off allowed Rs. (B) Promoter Group Companies (1) Jindal Steel & Power Limited Contingent liabilities not provided for as on March 31.

Information Memorandum Central Excise Matters Sr No Case No. The company has paid an amount of Rs.03.03 **PH goods relating to power plant 25.1998 to 17. goods.12 .220. Other Excise Matters Case Ref.55 crores 2. Jindal Steel and Power Ltd. Comm.04*ph Commisioner M/s NKK Corporation Japan 18. Vs. The Department has imposed duty on Ladle Transfer Car by treating it as an item falling under heading 86 instead of 84.03 ** PH goods relating to power plant 5.7.03 installed within the factory. Chattisgarh Payment of Duty 1. 3949 1. 1.400 2300 37. The company has already deposited the amount.02.95 - . Cenvat Credit on capital Replied on 11.45 lacs The Dept.00 crores under protest.12.. has imposed a duty of on two (2) Induction Furnaces for the period April 1. The matter had been appealed in the CESTAT by the company against the Order passed by the Comm. Modvat credit on capital PH over on 20/2/2001.11. A case of difference of book Reply sent ON 29. of Central Excise Vs. V(CH86)15264/R/P R/JC/200 4/ADJ/51 88 Comm.10. the modvat Replied on 4/7/96 – No PH document does not appear to be genuine.) Facts 1.1. Asst Service tax on the services of Reply Sent 27.03 installed within the factory This case relates to service tax Reply sent on GTO service 01.1998 after the Finance Act amendment in 2003. Amount (Rs) Pending Before Description of the Case Present Status 1993 179. Raipur Classificati on for imposition of duty 7.12*Adjourn 28.874 2661 483.679 1287 241.7*27. Writ Petition Jindal Steel and Power Ltd.697 Asst Commisioner Excise Asst Commisioner Excise Asst Commisioner Excise Asst Commisioner Excise Asst Commisioner Excise Asst Commisioner Excise To the department. Parties Pending Before Subject of the Matter Amount Involved (Rs. Comm.012 Cenvat Credit on capital Replied on 14.06. of Central Excise High Court. Jt.9. 2000. 1998 to March 31.05 .177.697 1658 3.772 9053 381.11.03 stock and physical stock taken by the department.

CEGAT allowed modvat DEPT.644 1005 Add. Cenvat credit as inputs on Reply sent on 20.02-NOT HELD against order of CEGAT.05 concrete sleepers and allied goods used for laying railway track in the factory.259 1489 2. Commissioner Excise Add.96.756 Appealate Tribunal Raipur High Court Bilaspur 1077 43. Jumbo Electric Platform truck as inputs and Ladle transfer car as capital goods.2. Cenvat credit taken on Reply sent on 11.606 High Court Bilaspur 19103 2187 Chief Commissioner Excise 6.7. Sponge iron burnt in the year CEGAT Remand to CCE 2000.04 include the amount of volume discount on freight availed from Indian Railways in the assessable. This is to be reversed. Commissioner Excise 21164 4.832 Add.04 on some old and used goods from factory to Nalwa Sponge.002.4.593 Asst Commisioner Excise Add. Commissioner Excise 4169 4. Commissioner Excise 27.12.11.98 to 1. Commissioner Excise 492 4. Department proposes to Reply sent on 30. Cenvat on explosive used in Replied . M/s HPCL.05*ph Study (Audit) by an 18.297. which stands in our favour.726.98.05 Engineering Company of Germany.01 * WRIT for 1.058 1303 1.Information Memorandum Excise 4558 473.6.702 20755 2.000 Add. Ref APPL – High credit on refractory materials Court to us.31.451 23446 717. Cenvat credit on Hot metal Reply sent on 1. Dept disputes that this item would be capital goods .3. We have HC BSP also filed a writ petition before High Court. This case refers to deficiency OIO Received – full in the document of the Disallow –Appl to be filed supplier of the goods.02 denied by Commissioner.061 Chief Commissioner Excise 346. The matter has been referred to High Court.131.417 3955 15. Cenvat credit as inputs on Reply sent .03. Service tax on GTO service Replied 22.10. Department has filed a Dept – Appeal – HC – PH petition before High Court 4.4.96 - .840 that we have taken in Japan itself (off shore service).527.8. Service tax on Engineering reply sent on 28.2004 rails and concrete sleepers and allied goods used in the factory This relates to demand of duty Replied on 10.2.5.03 Graphite Electrode as inputs.04 coalmine.2.042.9. Remission of duty PH held 22. Commissioner Excise Add.04 transport vehicle. Commissioner Excise Add.037.

3.2004 are in respect of : Sr. 0. which in aggregate amount to a demand of Rs.79 5.Y. Excise 981. 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. 592. 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.938 Appealate Cenvat on explosive used in DEPT APPEAL ** PH Tribunal Delhi coal mine. 1.) against which the company has already deposited an amount of Rs.Information Memorandum 953 3. Raipur for an amount of Rs.21 127.1. 3) The Gram Panchayat has served a notice upon the company imposing Local Body Tax of Rs. 7.104 3081 4576 2623 APPL*PH Appealate Classification of steel DEPT 09.39 lacs (approx. No. 3.93 254.011. 8.03.).) against which the company has already deposited an amount of Rs.05 *4.13 lacs (approx.06 5. The company is disputing the levy.05*29. A.97 - .74 lacs (approx.05 Tribunal Delhi components/accessories (Chapter 84 vs Chapter 73) fabricated within the factory for captive use.Y.511.745 Joint Cenvat credit taken on Reply sent.-20/9/94-NO PHCommissioner credit on capital goods. 66.319.32 lacs (approx. 4) The company has been served with two (2) Show Cause Notices from the Commissioner of Central Excise.05 appeal pending in CESTAT. 2) There are Central Sales Tax matters pertaining to A. 2000-2001 and A.) 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.PH held Commissioner Graphite Electrode as inputs. in Crores 34.50 lacs (approx. 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.26 3. The aggregate amount demanded is Rs. This is to be reversed.). Departmental 5.4.323 Joint Dispute relates to modvat PRE-OBJ.4. 1999-2000. (2) Jindal Stainless Limited Contingent liabilities not provided for as on 31.03.31 Civil Matters: .Y.

Supreme Court of India Service Tax . Jindal Stainless has disputed its liability and has filed this suit for declaration and an injunction restraining the Municipal Corporation from raising the demand for development. HVPNL has filed this Appeal. 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. Amount Involved (Rs. 49. KBC Bank N. However.44. Excise and Service Tax Matters 1.6.259/on account of the services provided by goods transport operators i. V. Jindal Stainless Ltd.For the period 16. Vs. Stainless V/s.e. Union of India & ors. filed a suit for specific performance and obtained a decree in its favour.1998 Rs. Hisar for Hearing Development Charges Upon instructions of Jindal Stainless Ltd.V.48. had acquired 2.11. V.) Potential liability of USD 4. subsequently. was the negotiating Bank. HVPNL cancelled the allotment.Jindal Stainless Ltd.48. Hisar LAND 15. 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.71. New York Branch And Surya Impex.Information Memorandum Parties Pending Before High Court.23. Jindal Ltd. Jindal Stainless filed an Appeal in the Delhi High Court challenging the order of dismissal of the suit.500/alongwith interest. Facts Haryana Vidyut Prasaran Nigam Limited (HVPNL) Vs Jindal Stainless Ltd. Civil Court. ICICI Bank opened letter of Credit of US$4.in favour of Surya Impex. 120/per sq.1997 to 1.00. Civil Court. Hisar had made a demand for development charges in respect of a club constructed by Jindal Stainless Ltd. 9. 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.98 - . Jindal Stainless Ltd.500/. ICICI Bank KBC Bank N.000/- Municipal Corporation (Hisar) Vs Jindal Stainless Ltd. yd.163 The Excise Department has levied Service Tax @ 5% on Rs. New Delhi Subject of the Matter Suit dismissed as infructuous. The Municipal Corporation. V. KBC Bank N. Writ Petition No. on account of the freight paid for the .5 Acres of land from HVPNL which is situated between its two factories.606 of 2002 Jindal Stainless Ltd. in its factory premises @ Rs.

Commissioner decided the case in favour of the Company. The Department has levied Modvat Credit on capital goods namely Electrical and Machinery items and issued a Show Cause dated October 23.163/under protest. November and December. The company has paid the amount of Rs. 1995 June. Jindal Stainless Ltd.998 period from 16. 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. Before Central Excise. 1996 to March. The company replied to the Show Cause Notice and Asst. Commission er (Appeals).99 - . 1994 January. 49. Rs.11.1998. 1996 to July. 1996. 49.05.1997 to 1.6.71. 1996. Commission er. Gurgaon Modvat Credit on capital goods For the period April. 1995 to May. Rohtak for Hearing For the period September. electric items. Refractory items etc.Information Memorandum 2. A/380387/2001 – NB(D) (Eight Appeals) (Northern Bench) Commissioner of Central Excise Vs. Being aggrieved.188 (in all Eight Appeals) 3. the Department . The Department has levied Modvat Credit on capital goods namely electrical goods. 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. 57.14. Appeal/Delhi – III/45/2001 Central Excise Commissioner Vs. 1996 Rs.

2004 Rs. No. The case was held against the Department and subsequently the Dept. 2000. Rohtak Modvat/ Cenvat credit For the period January.2004 issued by Commissioner of Central Excise. Gurgaon Rs.100 - .003/- filed Appeal before Commissioner (A) and the same is pending. - Show Cause Notice C.000/- 6. - Central Excise Commissioner Vs. The Department has levied Modvat Credit on capital goods namely Wires and Cables. - Central Excise Commissioner Vs. The Company filed a Reference Application before the High Court against the order of CESTAT on Capital goods namely: Brass Casting Articles. filed an Appeal before the Commissioner (A) and the same is pending.000/- 5. 2004 to June. Jindal Stainless Ltd. 19. IV (HQ)361/Tech/Jind al/D-V/04/14357 dated 28.06.33. Commission er (Appeal). Jindal Stainless Ltd.12. Delhi Modvat Credit Rs. 1944 for its opinion vide an Order dated November 9. 78. Rohtak Commission er of Central Excise.Information Memorandum 4. High Court. The Department has levied Modvat Credit on capital goods namely Refractories and Refractory items. 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.69. 21. 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. The Department has alleged that the company is supplying power .

23.58.ITAT.161 Forum where dispute is pending CIT (Appeals).869 Forum where dispute is pending ITAT.81. New Delhi (4) Renuka Financial Services Limited Non-payment of dues is as follows: Name of the Statue Income tax Act. 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.719/.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.636/-.45. 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.748.101 - . Non-payment of dues is as follows: Name of the Statue Income tax Act. 1961 Nature of the dues Income tax demand Amount 10. 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. New Delhi Amount . 3. 12. 1961 Nature of the dues Income Tax Demand Forum where dispute is pending 1.

220) (8) Opellina Finance & Investment Pvt.22 lacs.3. a demand of Rs. a demand of Rs.32 lacs. (13) Sapphire Technologies Limited Income tax Demands For Assessment Year 2002-03. the CIT (Appeals) has upheld the disallowance.15. The Company has filed an appeal to CIT (Appeals) against the order. 10. The Company has filed an appeal to CIT(Appeals) against the order. 1.15.15 Lacs has arisen due to recomputation of Capital Gains considering a lower purchase cost by the Assessing officer. The demand has arisen on account of add back of interest payable amounting to Rs. Contingent liability not provided for : Arrears on fixed Cumulative Dividend on preference shares Rs. a demand of Rs. On appeal.(Previous Year 24. 2004 relate to Income tax demand disputed in appeal pertaining to assessment year for Rs.92 lacs. The demand has arisen on account of interest disallowance by the assessing officer. 81. 197.Information Memorandum (7) Gagan Sponge Iron Private Limited Contingent liability not provided for : Arrears of Cumulative Preference Shares dividend Rs. The Company is in the process of filing an appeal to CIT (Appeals) against the order. 41. which the Assessing Officer had treated as no longer payable. On appeal. 2004 related to disputed Income Tax demand for Rs. (12) Naman Enterprises Private Limited Contingent liabilities not provided for as on 31-3-2004 comprised of dividend on Cumulative Preference Shares amounting to Rs.55. For Assessment Year 2002-03.915/. (11) • Musuko Trading Private Limited (MTPL) Contingent liabilities not provided as on June 30.032/-) (9) • Baltimore Trading Private Limited Contingent liabilities not provided as on June 30.43 lacs has arisen due to recomputation of Capital Gains considering a higher sale value by the Assessing officer.71. 1.750/.3.23. the CIT (Appeal) has deleted the addition and the matter stands decided in the Company’s favour. The Company is in appeal to ITAT and the matter is pending.70 lacs.(Previous Year 28.62 Lacs has arisen due to disallowance of Website Development expenses incurred by the Company.085. • (10) Kamshet Investments Private Limited Income Tax Demands For Assessment Year 2002-03. .102 - . Ltd.

net of Rs.23 lakhs.Information Memorandum (14) Jindal Thermal Power Company Limited Contingent liabilities not provided for as on March 31. 2004 1. Outstanding Litigation Sr. 2.) Nil Facts Karnataka Electricity Regulatory Commission (KERC) Versus Jindal Thermal Power Company Limited & Ors. 2000 for supply of power. 24.95 lakhs. No. Similarly. 1999. Parties Pending Before Supreme Court of India for Admission Subject of the Matter Modification of Power Purchase Agreement (PPA) Amount Involved (Rs. 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.30 lakhs. 573. JPTCL entered into a Power Purchase Agreement with KPTCL in November. JTPCL filed an . Pursuant to Karnataka Electricity Reforms Act.72 lakhs claimed by the Company towards rebate for prompt payment on another loan from the same Financial Institution.103 - . (JTPCL) The Govt. 14449. 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. 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. 1 Case No. of Karnataka had granted permission to JTPCL for selling power directly to industrial units and the balance to KPTCL. 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.

accident at the COREX-I site in July 2002 and compensation claims aggregating to Rs. (15) Jindal Vijayanagar Steel Limited Contingent liabilities not provided for as on March 31. the Net Tax Liability (after adjusting refunds and payments) The Tax Dept. Tax Matters 2.71 crores i. which set aside the order passed by KERC. No. An interim stay has been granted in favour of JTPCL upon depositing Rs. No. KPTCL has filed this appeal before the Supreme Court against the Order of the Karnataka High Court. levied interest u/s 234B and 234C of the Income tax Act.01 149. of Income Tax & Anr. . Karnataka High Court. sales tax. 4. 1. 3.Information Memorandum Sr.84 Labour Cases There are six (6) labour related matters against JVSL for issues such as dismissal from employment. Parties Pending Before Subject of the Matter Amount Involved (Rs. JPTCL has filed this writ petition against the levy of interest as also the validity of the retrospective operation of the amendment carried out to section 115JB of the Income Tax Act. 55 lacs with the Court.e. 2005: Sr. Jindal Thermal Power Company Limited (JTPCL) Versus The Deputy Comm.7 lacs. Bangalore for Arguments For the Assessment Year 2001-02 & 2002-03 0. income tax and other levies (excluding interest) Rs. 2.) Facts appeal against this order before the Karnataka High Court.104 - .81 487. in crores 5. Case No. Particulars Claims against the Company not acknowledged as debts Bills discounted Disputed claims including those pending in Courts for excise & custom duties.

3111/2002 Addl. Civil & Other Cases Case No.. Bangalore 3006000+ interest High Court of Karnataka for hearing Reopening of Assessment by the Department 2.Dvn) & JMFC.Gouramm a/ Shri. Bellary Steel has filed the Writ Petition to Stay Income Tax Department Notice reopening the assessment for the Assessment Year 1997-98 . Bellary who is the Revenue Authority.10. 3110/2002. The petitioners have filed a case for compensation for the tamarind trees. Rudramma. Sandur 210000 Since there was a dispute between the parties. Civil Judge (Sr.17 crores The matter has been filed by banks seeking various sums from Bellary steel and others. 3109/2002. 30.S. 200000 Status The parties have gone on appeal for enchancement of compensation against the land acquisition-Trial going on. Bellary High Court of Karnataka 200000 300000 O.Shankar Reddy Pending before Addl.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. 30.e. The plaintiff is claiming 100% ex-gratia (i.Dvn) & CJM. 2.190/03 Writ Petition 10713/200 4 SBI & others VS Bellary Steels & Alloys Ltd & others in which JVSL is one of the respondents. JVSL is a debtor of Bellary Steel and has been served with a garnishee notice for an amount of Rs. LAC No.000) to herself. Bellary Steels & Alloys Ltd Vs IT Dept.Commr. Commr & LAO.P. Hosagerappa of Kudithini based on the orders of Asst.105 - . Bly & JVSL JVSL Vs Smt.Nos.27 lacs. Commr & LAO. Civil Judge (Sr.R. JVSL is one of the respondents Debt Recvery Tribunal. which were their during the acquisiton of landTrial going on. Yarabanahalli Vs The General Manager (A&LA).The Trial has Commenced in the court.J. The parties have gone on appeal for enchancement of compensation against the land acquisition-Trial going on. Original application No. Bellary. Rs.Bheeman Gouda and Sri. 16 / 2000 @ 91 / 2002 Parties Uppara Hanumanthapp a & another Vs Asst. Bly & JVSL Gavisiddana Gouda Vs Asst. 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. LAC No.60 lacs. Commr. K. 17 / 2000 @ 92 / 2002 C. Recovery of loan with interest Amt. Jindal Vijayanagar Steel Ltd.Dvn) & CJM. we have paid the ex-gratia as per the orders of Asst.4/2005 Smt. RoranagalluL Civil Judge (Jr. as we have paid the ex-gratia to Shri.

NO. S.17 crores The High Court has granted stay against the notice of the IT Dept. 1 C(p).P. S. No. Bellary has initiated criminal . The Plaintiff has in 2002 made an application for reinstatement of the suit. 60000Ex-gratia to be paid by the co. Case No.. Other Ex-gratia matters/cases List of ex-land owners to whom the payment of ex-gratia is to be made.) Nil Facts The Dy.family dispute not received. No. 7B(p).311. Parties Pending Before High Court of Karnataka.450 (for cost and interest for demurrage) and claiming Rs. 365 E Kurekuppa Criminal Cases Sr. The Claimant was required to supply certain quantity of limestone to JVSL under a contract. Remarks 323 C / 1 Kurekuppa Chikka Basappa. On receipt of the consignments. 8350Ex-gratia to be paid Claimant expired. 538 of 1999. Toranagallu 361 D(p). Village Vaddu Name of the Ex-land owner Dodda Thimmana Gouda. 1. & Ors. The Plaintiff thereafter withdrew the suit in 1999.Information Memorandum Civil Suit No. 3352 / 2002 JVSL Vs Dy. 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. the calcinations process in the lime calcinations plant was not to expected level. the limestone was found to be of a different size than the one desired by JVSL. 1880 of 2000 Mewar Growth Ltd. Bangalore Subject M at t er Corex Accident W. Sanna Thimmana Gouda Amt. JVSL London Court of International Arbitration for filing Pleadings Demurrage Charges $ 57.Devanna 34800Ex-gratia to be paid by the co.90 crores (approx.A.45 (for dispatch earned & interest) and $ 118. Bellary Amount Involved (Rs.P.P.) -- David James & Sons Vs. Vs. G.. No. 2.family dispute not received. K. Due to the variance in the size of the limestone. JVSL Calcutta High Court for reinstatement of the suit earlier withdrawn Shares 5.106 - . The Claimant has filed this matter for the demurrage for the delivery of the limestone at the Goa Port.

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

99 Appeals pending before the CESTAT / Commissioner (Appeals). The Tribunal has already stayed the order passed by the lower authority.37 The Tribunal has already stayed the order passed by the lower authority.00 Lakhs 8.18 4. The final hearing is scheduled on 19. 3. Input credit pellets.90 The Tribunal has already stayed the order passed by the lower authority. Bangalore. material in nature. The Tribunal has already stayed the order passed by the lower authority.5. The final hearing will be held on 27.4.108 - .05.05.5.04. 10. Demand of duty on refractories and lock hoppers of Corex-I. DRI Case – II – Demand of additional customs duty on warehoused goods. The final hearing was held on 04.00 Appeal before the High Court of Karnataka has been filed. Met-coke import: CG given for Anti Dumping Duty (ADD) 908.40 The Tribunal has already stayed the order passed by the lower authority. Show cause notices for demand of excise duty on sale of Corex gas supply to JTPCL / JPOCL. our Stay-cumappeal has been filed before the CESTAT.5. Chennai Customs: Rs. Final reply submitted. PH is awaited. 4920. The final hearing is scheduled on 11.05. on Highgrade 47. Order is awaited.04.05. Bangalore. 2. Customs & Excise (Down Stream SBU): The status of various show cause notices / demands. Levy of differential duty on scrap: Goa Customs: Lakhs Rs. PH is awaited in May’05.05 SCNs-VII. 23.740. Input credit on Corex chilling: 62. VIII & IX: awaited Order is SCN-X not yet issued by the dept.00 Based on the order passed by the Commissioner (Appeals). Duty on interest free advance of Rs. 104.05.00 Pending before the Supreme Court of India.150 Crore received by JVSL from JISCO.00 1103. Demand of additional interest charges on warehoused goods 9.Information Memorandum 1. Response is awaited from Chennai Customs. issued by the Central Excise and Customs Authorities : . 4851. The final hearing is scheduled on 19. • • • • • SCN-I : Order is awaited SCN-IV: Order is awaited SCNs-V & VI: Final hearing is scheduled on 20.00 5. 6.363. 7.

50.89 Rs.23 Reply to show cause notice filed – Nothing further has been heard. 7. 2.04 under Special Entry Tax Act-2004. Withdrawal of DEPB Benefit on account of difference between the declaration in shipping bill and physical examination of goods. 0. Income Tax (Up Stream SBU): . (Rs in Lakhs) Status 1. Sales Tax (Down Stream SBU): Sr.75 Reply to show cause notice filed – Pending for hearing. 3.e.00 Appeal pending for hearing before the Commissioner (Appeals). Description Amt. Imposition of penalty under Rule 209A of the Central Excise Rules.) 1. 10.f.89 Appeal pending for hearing before the Appellate Tribunal. 18. 2. Disallowance of Cenvat credit availed in respect of furnace oil used in captive power generation. 5. No. 4. Appeal pending for hearing before Tribunal. Details Amt. The Forms have now been submitted and a revised order is expected. 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.03.Information Memorandum Sl.23 Appeal pending for hearing before the Assistant Commissioner of Sales-tax (Appeals).36 Reply to show cause notice filed – Pending for hearing before the jurisdictional commissioner. Comm. Appeal pending for hearing before the Appellate Tribunal. 6. of CST Vs JVSL There are no cases pending in respect of Sales tax & Entry tax for the period ended 31.78 lacs A demand was raised by the CST Dept. Further. 01. 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. 47. on account of not furnishing Form C and Form F. No. 85. (Rs in Lakhs) Status 1.2005. 1.79 Amount debited under protest.30 lacs have been debited under protest.109 - .00 Appeal pending for final hearing before the Appellate Tribunal.10.269 lacs (approx) is provided on account of new levy imposed by Karnataka Government w. for which the Company obtained stay from the High Court of Karnataka.20. Sales tax liability on account of nonsubmission of Form F in respect of branch transfer. contingent liability of Rs.

134. reduction of depreciation as per Income-tax on slump sale. as there is no question of law is involved. 10. Penalty levied u/s 271(1)(c) in respect of addition made in the assessment order passed u/s 143(3). No. (Rs in Lakhs) Status 1. Payment made other Bank called by Dept.99. Recently the tribunal decision has been reversed by High court. 3. provision for diminution in value of investments etc. Description Usance Interest in Rs. Total 1891.41 Appeal being filed before the Commissioner of Income-tax (Appeals).775 Income Tax (Down Stream SBU): Sl. The Income Tax Department has filed an appeal before Karnataka High Court against order of Income Tax Appellate Tribunal.79 Service Tax (Up Stream SBU): Sr. No. 201(1A) for demand of withholding tax on usance interest received from income tax department 6. Additions / Disallowances made in the assessment orders passed u/s 143(3) to Normal Income in respect of Surplus on repurchase of own debentures.Information Memorandum Sr. Status . amount transferred to lease equalisation.97. 2 Appeal to Karnataka High Court against order of Income Tax Appellate Tribunal for Assessment Year 1995-96. Status 1.w. unutilised modvat credit. Description Amt. Company appeal for assessment of interest under the head Business Income as against Other Sources. interest disallowed u/s 14A and additions made to Book Profit in respect of provision for doubtful debts and advances. No.s. 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.96 Appeal being filed before the Commissioner of Income-tax (Appeals) 2036. Notice of penalty u/s 202(1) r. interest & other expenses capitalised in books. interest receivable written-off. 10.110 - . The Tribunal has allowed. Details Value in Rs.42 Appeals pending for hearing before the Commissioner of Income-tax (Appeals) / Appellate Tribunal. The High Court may not frame a question for reference. based on facts. 2.618 The demand made by Dept. is in respect of usance interest paid through ICICI on usance LC. JVSL has replied penalty notice denying the liability relying on High court and Tribunal decisions.50.

71216321). 7. JSAL removed goods under Form AR. Amet Ltd.Ex. : JSAL supplied some steel strips to some companies for further export. 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.Information Memorandum 1. 758. (16) Jindal Steel & Alloys Limited Outstanding Litigations: Excise Matters Dispute on demand of duty on Interest charged in Invoice raised by JISCO: Rs 21. Austria (Rs.2005 at C. The hearing has been completed on 17.1.2005 at Mangalore and order is expected. Penalty of Rs.34 lacs.4A and declared that it has not avoided input stage credit. 500 by Excise Authorities in FY 2003-04 for wrong claim of CENVAT.21 Lacs plus penalty of Rs 37 lacs.Rs 2. 1. the final assessment is still pending.. Show cause notice has been received for duty demand on Interest charged in Invoice raised. Bank Guarantee provided to Excise Dept ..368 Replies to the notices have been submitted by the advocates on behalf of foreign parties.975261) and Alsthom Power. Custom Matters Custom Duty – Custom dept.2089786) during implementation of the project. has given show cause notice for payment of duty of Rs. Bellary appeals have been filed before the Commissioner (Appeals). In the case of Alsthom Power. C. Mangalore in respect of VAI & Amet.42. 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.Ex. The Final hearing is awaited. VAI. Penalty of Rs. 37..1. The Customs Dept issued a show a show cause notice upon JSAL stating that the benefit of the notification was not available .81. For provisional assessment of consignment sales made. USA (Rs.111 - .50 lacs. The remaining eight notices have already been decided in favour of JVSL. JSAL imported the consignment duty free under a notification. Service Tax Authorities have demanded service tax on consultancy services rendered by foreign parties namely.19 lacs imposed by the Custom Authorities in FY 1997-98 for wrong removal of imported equipments from the bonded warehouse. Bellary and the order is expected at any time. Based on the orders passed by the AC. the hearing is completed on 24. Penalty imposed by SEBI/Other Regulatory bodies • • • Fine and penalty of Rs.27 lacs levied by BSE in FY 1998-99 for belated intimation of Book Closure dates. Russia (Rs.

The outstanding amounts have since been paid and with this the above show cause notice has been settled. The matter is pending before the Divisional Office of Central Excise. If the bill of entry. which may become due to the Company. Civil Matters . the Company has paid the entire duty amount of Rs.Information Memorandum and demanded the payment of duty along with penalty. However.07.68. A sum of Rs.36.46.000. 1352972 was paid to the Income Tax Department on basis of Assessement completed for A.Rs.557 Special Additional Duty: Rs. (17) Southern Iron And Steel Company Limited (SISCOL) As on December 31.00.65. 35. 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. 3. 3. 4.093 from the Customs Department.950 No provision has been made for these amounts in this account.19. Rs 440000 has been deposited on 5/10/2004. which has already been filed. Sanjay Sharma who was sacked for irregularities in his workings has filled a suit against the Company for his reinstatement as an employee. 1.e. Other litigations The Special Director Enforcement has imposed a penalty of Rs.112 - .945 which has already been paid will also be refundable. The Company has subsequently received an adjudication order from the Commissioner of Customs demanding interest of Rs.82. The Company has replied to the show cause notice and has also represented at the time of hearing. 31. A stay application has been filled by JSAL against the show cause notice.60 lacs An ex. However. 0.19.07.340 and penalty and fines of Rs.311 Differential duty: Rs. due to non-receipt of official order.07.employee Mr. .944 and interest of Rs. the Company had the following contingent liabilities: i. no credit has been taken for this refund. the same has been reflected as a contingent liability. 2001-02. 67. An amount equal to 10% i. 67. Income Tax Matters Rs.65.36. As against the demand for customs duty of Rs.65. the Company has filed an Appeal against the Assessement Order.44 Lacs for non-production of documentary evidence showing import of goods against remittance of Rs 4467512 under Sec 8(3) of FEMA.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. Litigation.05.Y. is accepted. which has been filed being rejected. the duty amount of Rs. ii. 3. 4.093 which the Customs Department has asked the Company to pay is payable contingent upon the bill of entry. 2004. Disputes etc.

30. 204 of 2004).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. 1998 from Executive Engineer.90. the Company also requested that it be allowed to pay the peak hour charges of Rs.549 lacs per annum effective from 1993. A winding up petition under Section 433 and 434 of the Companies Act. However. 3 lacs per annum and the matter is pending. 1.35. 2. 2004 has demanded a payment of Rs1.30. 76. 1.92 plus interest against two companies viz. Mettur Electricity District Circle. M/s Indo Fab Engineering ("Indo Fab") have obtained a decree of Rs.95 crores in its books of accounts till December 31. the Madras High Court permitted the Company to pay peak hour charges of Rs. 54. Writ petitions had been filed by the Company against the Tamilnadu Electricity Board in the Madras High Court contesting the levy of Electricity Tax. The Company is in the process of filing an affidavit. The Company as gone on appeal before the Division Bench of the Madras High Court.57.099. Government of Tamilnadu for Rs. 3.05.77. 2004. Pending final hearing of the writ petition. The Company has filed an affidavit disputing the claim in the before the Court (case no. 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. Further. The Company is representing to TWADB for charging the originally agreed royalty of Rs.900 has been made in the accounts for the increase in the charges.89. 16. Ltd and M/s Simplex Engineering.734. OS700/96 to the tune of Rs. The Company received a letter dated October 15. 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 16.000.Information Memorandum The Company had received a letter dated January 24. 2003 on power generated by generator or the captive power plant. Tamilnadu Electricity Board by a demand notice dated October 11. Indo Fab. Mettur Dam for payment of outstanding dues of Electricity Tax for the period February 2002 to December 2003.00.As per the said Act and the rules framed thereunder.30. 697/1996) have obtained a decree and have applied to the court for garnishee order to the extent of Rs. i.77. 2.199 in ten (10) equal installments and granted an order of interim stay in respect of the demand of surcharge. By an order dated November 02. Indo Fab has taken out garnishee order/attachment order in case no. The final hearing is awaited. 3 lacs per annum. The Company has made provisions of Rs.113 - . 2003. a provision of Rs.03. 2004 towards payment of these dues. the Company has made a provision of Rs. in another case (OS No. The Company is in negotiations with the Public Works department to reach a settlement. M/s Eastern Metallurgical Equipments Pvt. 1956 has been filed in the Madras High Court for default in payment of Rs.054. CP no.77. The Company had filed Writs Petitions in the Madras High Court challenging the levy of belated payment surcharge of Rs.000 to M/s Simplex Engineering.05. the Judgment Debtors in the Trichirapalli District Court.199 (inclusive of belated payment surcharge of Rs. 11.00. 94.35. TWADB stating that the royalty charges have been revised to Rs.35.e.199 (without the surcharge) in twenty (20) equal installments. 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.844 in the execution application filed against M/s Simplex Engineering. Madras High Court has dismissed the Writ Petitions. 31. As the Company owed Rs.89.00. 2004 from the Superintendent Engineer. A demand has been made on the Company by the Public Works department. . 25.221 in its books of accounts. The Company filed a writ petition challenging the provision of The Tamil Nadu Electricity (Taxation on Consumption) Act.099) being arrears of peak hour charges for the period July 2003 up to August 2004. 1. However. 16.

23. payable half-yearly in September and March. to carry interest of 15% p. After May 17. ID 106/2002) against the Company. engaged by an executive of the Company. The first redemption of Rs. 70 were issued by the Company in March 1995 as per following terms mentioned in the prospectus: • • • • Face value of Rs. claiming wage revision from the labour contractor. starting from May 17. 2000. Rescheduling of redemption of debentures Partial Option Convertible Debentures (POCDs) of face value Rs. 10 each at a price of Rs. The Deputy Commissioner of Labour has referred the dispute to the Government of Tamilnadu for settlement as an industrial dispute. 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. 1998. interest arrears and future interest as follows: . 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. The second installment for redemption of debenture due on May 17. 30 each after 3 years from the date of allotment (i. Debentures to be redeemed in 5 annual installments of Rs. 1995 Balance amount of Rs. 2001 could not be paid. 40 into 2 equity shares of Rs. 70 with a compulsory conversion of Rs. debentures on which option to convert into equity is not exercised. in November 2004 for default in the payment of Rs. Civil cases One of the land dispersee has filed a case in the Court of the District Munsif of Mettur (case OS no.a. 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. 1998). 6 (due on May 17. the Company was not in a position to pay interest due for the period October 1. 6 each. Labour related cases A driver in casual employment.65. 2000) was done by the Company except for the pending amount as stated below. have included the Company as a party to the suit as the Company is principal employer. 20 each at the time of allotment on May 17.56 lacs and Rs. The Company has replied to the notice disputing the above claim. Government of Tamilnadu acquired 154 acres of land for the Company and passed an award for the 154 acres.29 lacs respectively. Due to lack of liquidity. The Company was regular in making the interest payment up to September 2000. Salem (case no. on or after May 17. 2002. to reschedule redemption of balance 4 installments. symbolic possession has been given to the Company for 105 acres only. 329 of 2004) against the Company. However. 81. 2000 onwards.e. demanding award of a labour contract to a particular group of land-dispersed persons. 30 to be treated as an Optionally Convertible Debenture (OCD) with an option of conversion into 1 equity share of face value of Rs. A resolution was passed in a general meeting of debenture holders convened on February 25. The Company has filed a writ petition to quash the order of reference. 12. Employees of a labour contractor. has filed a case in the Labour Court. claiming employment in the Company.356 plus interest thereon.Information Memorandum The Company had received a notice under section 433 and 434 of the Companies Act.114 - .

Shanmugasundaram has received summon no. 2004 was also sent by WCSPL to SBI. Copy of this letter was also sent to RBI. 2002 May 17. Maharashtra for intimating the change in directors. Mr. in respect of West Coast Saw Pipes Limited (WCSPL).03. Industrial Finance Branch forwarding the acknowledgement of form 32 filed with the Registrar of Companies for the resignation. 2004 Interest • Interest for the period from 01. 2004 (Rs. 1. October 30.40 per debenture on 31. September 30.2000 to 30. 2000 for debentures issued by the Company has not been paid for want of surrender of debenture certificates for endorsement by the debenture holders. Jain had resigned as a director from the board of WCSPL w. 6 Nil The defaults in servicing in accordance with above terms are given below. 2001 May 17. 2004 (Rs. 10.2003 and Rs. Jain’s name is mentioned in the RBI list for willful default of Rs.12.70. 12 Rs. N. P.2004 • • Interest for the delayed payment calculated at the same rate of 15% to be paid on 31.130) has not been serviced by the Company. Defaults in Servicing Debenture interest aggregating Rs.710). 6 Rs. Jain from the list. Litigation against Directors of SISCOL Mr.300 being the first installment of redemption due on May 17.57. 6 Rs. For the period 01.115 - .710) and December 31. 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. advising that Mr.83. 2002 from IX Metropolitan Magistrate Court. 2002 with Registrar of Companies.80 per debenture to be paid in two installments as under: Rs. 83. 7.f. In this regard. 2006 May 17.31.09. Chennai and has appeared before the court as a nominee director of Indian Natural Medical Products Ltd. 6 Rs. Saidapet. 2004 was sent by SBI.52. 2008 Amount payable per debenture for redemption Rs.2003 totaling Rs. WCSPL filed Form 32 on November 25.2003 onwards. He is yet to be served with a copy of charge memo for the same. CC 802/02 Hg dated August 29.550 which was due on March 31.10. A letter dated October 29. An amount of Rs.2005. 2003 May 17.e.56.52. 5. 6 Reduced principal Rs. 5. 25 lacs and above.62.40 per debenture on 30. 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. Industrial Finance Branch to WCSPL advising that the letter from WCSPL requesting removal of above name has been forwarded to ITCOT Ltd. 2004 (Rs. Rescheduled due date May 17. 2007 May 17. Subsequently.09. However.Information Memorandum Principal Original due date May 17. K. 2002 and has not been associated with the company since then. 1.10. (Industrial Technical Consultancy Organisation of Tamilnadu Limited) (C) Associate Companies (1) South West Port Limited (SWPL) . a letter dated October 25. Mr. 18 Rs.56. 2005 May 17. 4.

the Evidence dredging work stage carried out at Ltd.) 3.116 - . No. Excise Vs. Outstanding Litigation Sr. 2. Particulars Bank Guarantees Excise Duty matters disputed by the company Claims against the company not acknowledged as debt (Rs. 3. No.80 crores Venting of Gases has been treated by the Dept.a. Parties Pending Before Subject of the Matter Amount Involved (Rs. SWPL has also filed a Counter Claim of Rs. Parties Pending Before Subject of the Matter Jaisu Shipping Arbitration at Claims for the Company Pvt.00 % p. 1. JPOCL CESTAT Claim of Duty 7.00 Outstanding Litigation Cases filed by the Excise Department Sr. Amount Involved (Rs. Case No. as the Claimant had not dredged the entire lagoon area stipulated under the contract. as despatch and levied duty upon . No. currently pending before arbitration. 2003 were: Sr. 155. 1. in lacs) Amount 111. the work had also not been completed within time. 8 Appeals Comm. Moreover. (2) Jindal Praxair Oxygen Company Private Limited (JPOCL) Contingent Liabilities not provided as on March 31. the Marmagoa Port Versus South West Port Ltd.75 lacs.) Facts 8 Appeals Comm.88 crores 2.Information Memorandum Contingent liabilities not provided for relates to claims made by a dredging contractor. Of Excise Vs. 1. Venting of Liquid Products has been treated by the Dept.93 crores for delay and loss of profits due to a 45 days overrun along with interest @ 12. to the extent the company does not expect any determination of liability in respect thereof amounting to Rs. as despatch and levied duty upon the same. JPOCL Of CESTAT Claim Duty of 12.30 6902.47 crores Facts SWPL is disputing the claim.96 270. 3.

LOX Consumption Captive 4. 2 cases 6. 1 case Comm.16 lacs Cases filed by JPOCL against the Excise Department Case No. 4 cases CESTAT Claim of Duty on Captive Consumption 51. Of Excise Comm. Comm. Case No. Asst.117 - . Denial of MODVAT availed by JPOCL on the Capital Goods to the extent of 25% on project imports. Denial of MODVAT availed by JPOCL on the Capital Goods. JPOCL Comm. Parties Pending Before Subject of the Matter Amount Involved (Rs. Of Excise (A) Duty on Infrastructure Services Duty on Infrastructure Services Service Tax 1. Comm. JPOCL Comm. Of Excise Vs. JPOCL CESTAT Claim of Duty 1. Comm. Comm. Comm. Of Excise Vs. Duty on Infrastructu re Services Duty on MTOP Duty on IT Reimburse ment 8.48 lacs 2 cases JPOCL Vs. Denial of MODVAT availed by JPOCL on the Capital Goods (SS Plates and 25% on project imports. Comm. as despatch and levied duty upon the same.22 lacs 1. Claim of Duty 60. Of Excise Vs. Venting of Liquid Products has been treated by the Dept. Denial of MODVAT credit 2.22 lacs 55. Of Excise Comm. Of Excise Vs.06 crores 10 Appeals JPOCL Vs. Of Excise (A) Claim of Duty 90.77 lacs 11. Of Asst. No. JPOCL Comm. Comm. Comm.74 crores Duty on reimbursement of expenses Duty on reimbursement of expenses Service Tax payable on Engineering Services of Praxair Inc. Comm. 2 Appeals Comm. Venting of Liquid Products has been .. 1 case 7. Comm. Of Excise Vs.98 lacs Duty reimbursement expenses on of 2.) Facts 4 cases JPOCL Vs.87 crores the same.93 lacs 5. Parties Pending Before Subject of the Matter Amount Involved (Rs. Of Excise Asst. Comm. Of Central Excise (Appeals) Asst. Of Excise JPOCL Vs. Comm.) Facts 3. JPOCL CESTAT Asst. Technical Services and Field Service Agreements. Of Excise JPOCL Vs. Of Excise Comm.74 lacs 2 cases JPOCL Vs. Comm. Claim of Duty 1.Information Memorandum Sr.51 crores 116 of 2002 JPOCL Vs. Of Excise (A) and Asst. Comm.

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

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

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.

- 120 -

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.

- 121 -

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.

- 122 -

Choksi Partner M. We report that in our opinion. 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. The Company has not declared dividends during any financial years covered in this report. 4. No.7 (i) of the Guidelines is given in note 7 of Annexure IV.10. 5. This report is intended solely for your information and for the Company to comply with the provisions of the Guidelines and may not be suitable for any other purpose. they have been correctly computed from the figures stated in the Statement of Assets and Liabilities and Profit and Loss as referred above.Information Memorandum 2. The summary of significant accounting policies adopted by the Company is enclosed as Annexure III to this report. Hence the information regarding analysis of outstanding unsecured loans in accordance with the paragraph 6. 6. 2005. Chartered Accountants Vipul K. 7. For Shah Gupta & Co.123 - . The Notes to the Statement of “Assets & Liabilities” and ‘Profit & Loss Account’ are enclosed as Annexure IV. approved by the Company and annexed to this report.2. 3.2.7(h) of the Guidelines have not been disclosed. the Statement of Capitalisation as set out in Annexure VI which has been prepared based on audited information. The Company has not taken unsecured loan. Disclosure of the Tax Shelter Statement as required by paragraph 6.10. 37606 Place : Mumbai Date : 28th April 2005 .

06 (13.91 1.net Current Assets. 2003 2004 Rupees in Lacs 8.43 0.23 (0.121.08 2.04 B C D 4.00 (4.96 52.96 Lacs on account of allotment of Equity shares on 16th March.28 1.02 0.22 6.088. Expenditure Networth Note: Share Capital includes an amount of Rs.32 0.10) 10. 2005 to Shareholders of JISCO (erstwhile) in the ratio of 1 equity share of Rs.121.28 8.00 (0.59 0.64) 9. Reserves Less Revaluation Reserve Reserves (Net of Revaluation Reserves) Less: Misc. Share Capital (see note) 2.20 1.02 4.06 52.43 (3.98 14.29 53.32 4. 31.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 .35 43.85 9.43 13.10) 344.217.87) (4.1099.12 9.13 10.30 F G Net worth Represented by 1.19 1.52 0.35 6.59 10.12 0.28 E 0.10 each for every 4 equity shares held by them in JISCO (erstwhile).217.70) 4.78 0.30 5. .57 0.05 13.109.791. 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.124 - .00 0.135.87) (8.28 2005 for 6.23 0.23) (3.74) 53.29 14.

22 27.34 0.21 0.29 0.42 (5.50 0.18 0.005 Income Sales Total Other Income * Increase (Decrease) in inventories Expenditure Raw Material Consumed Staff Costs Other Manufacturing expenses Administration Expenses Selling & Distribution Expenses Depreciation Interest Net Profit before Tax Less: Provision for Tax .71 36.42 5. 31.09) 560.66 560.06 0.Information Memorandum Annexure II STATEMENT OF PROFITS AND LOSSESS 2002 Year ended March.90 532.76 4.21 0.53 19.33 5.37 529. 2003 2004 Rupees in Lacs 2.42 560.66 15.23 0. Break up of other income is : Dividend Interest Consultancy Fees Profit on sale of Investments - 0.50 0.66 .09) (5.34 12.50 0.15 0.65 1.33 0.33 504.50 0.125 - .48 - - 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.

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

. (h) Contingent Liabilities Contingent liabilities are disclosed after a careful evaluation of the facts and legal aspects of the matter involved.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. In assessing value in use. the estimated future cash flows are discounted to their present value based on an appropriate discount factor.127 - . The recoverable amount is greater of the net selling price and value in use.

the Investment Portfolio of Jindal Iron & Steel Co.243 The aforesaid difference has been credited to General Reserve as per the ‘Scheme’ approved by Hon’ble High Courts of Bombay and Karnataka. d From 1st April. a. Ltd (JISCO)(erstwhile). 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. Rupees Add : Income of Investment division of erstwhile JISCO Less : Expenses of Investment division of erstwhile JISCO Less : Provision for Tax – AY 2004-05 5.334 865.5. b Pursuant to the Scheme.265. The Company has incorporated investments and Loans & Advances at fair value as determined by the valuer.753.250 5.753. 2005 respectively.000 3. the Company has issued 10.749. which is allowed as per Accounting Standard (AS) 14 “Accounting for Amalgamations” issued by the Institute of Chartered Accountant of India.510 545. 2004 & 20th January. 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.155. 2003 in accordance with the Scheme.625 fully paid up equity shares of Rs.128 - . Accordingly.923. Pursuant to the Scheme of Arrangement and Amalgamation (Scheme) sanctioned by Hon’ble High Courts of Bombay and Karnataka on 3rd September.155. as disclosed in Schedule B.493 109.334. 2003.243 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.996.824 .Information Memorandum Annexure IV NOTES ON FINANCIAL STATEMENTS 1. referred to as Investment division has been transferred to the Company with effect from 1-4-2003 (Appointed date).10 each for every 4 equity shares held by them in JISCO (erstwhile). JISCO (erstwhile) had carried the Investment division in “trust” on behalf of the Company. along with certain loans & advances.10 each to the Shareholders of JISCO (erstwhile) in the ratio of 1 equity share of Rs.999. c Rupees Investments & Loans & Advances Less : Amount of Equity shares issued to the shareholders erstwhile JISCO Excess Credited to General Reserve of 5. The difference of Rs.

713 2003-2004 Rupees 3780 - 5. at least equal to the amount at which they are stated.Information Memorandum e In view of aforesaid Scheme with effect from 1st April.as at 31st March 2004 against General Reserve and (ii) Recorded Deferred Tax Assets of Rs.2005 Rupees (a) Expenses covered by Section 35 D of the Income Tax Act. The Company has become a Non Banking Finance Company (NBFC) as per Reserve Bank of India Act. issued by the Institute of Chartered Accountants of India.550 11. 2005 include the figures of JISCO (erstwhile) from the said date. 7. These activities mainly have similar risks and returns. Net Deferred Tax Assets comprises: the 27. 3. Current Assets. the Company’s primary business segment is Investing & Financing. 4.37. 2005 and the profit and Loss Account and Cash Flow Statement for the year ended 31st March. 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.408/.020 36. In the opinion of the Board. Deferred Tax Liability : As at 31.03. 1993. 33. Loans and Advances have a value on realization in the ordinary course of business. 2.129 - . Remuneration to the Auditors: 2004-2005 Rupees Audit Fees Tax Audit Other services Out of pocket expenses (including Service Tax) 6. In compliance with the Accounting Standard 22 (AS 22) relating to “Accounting for Taxes on Income” issued by the Institute of Chartered Accountants of India. Hence. 1961 88. 1. 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. the Company has: (i) Adjusted net Deferred Tax Liability of Rs.17 ‘Segment Reporting’. Segment Reporting Based on guiding principles given in Accounting Standard .for the current year. The Company is in the process of completing necessary formalities for registration.499 . the figures of the current year are not comparable with those of the previous year. 2003 (Appointed date) the Balance Sheet as at 31st March. As company’s business activities falls within a single primary business segment the disclosure requirements of AS-17 in this regard are not applicable.101/. 1934.

337 8.000.145 (a) Expenses covered by section 35 DD of the Income Tax Act. 2.167.000 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. Details relating to investments in the above related parties have been disclosed in Schedule C "Investments". (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. Related party relationship is as identified by the management and relied upon by the auditors.000.130 - . Computation of Basic and Diluted Earnings per share: 381. Related Party Disclosures. 1961 2. . as required by Accounting Standard 18. issued by the Institute of Chartered Accountants of India is given below: (a) List of Related Parties (i) Parties where control exists: NIL (ii) Other Related Parties with whom the Company has entered into transactions during the year: (Associates of the Company/Enterprises over which key management personnel and/or their relatives exercise significant influence) Jindal Vijayanagar Steel Ltd. Sun Investments Pvt.Information Memorandum (b) Depreciation Deferred Tax Assets : 23.000 18.900 9.983 Previous Year Referred to In (a)(ii) above (Rupees) 17.629. “Related Party Disclosures”.922 Nil Nil Previous Year Referred to in (a) (i) above (Rupees) Nil 1.500 Nil 1.15. Ltd.

131 - . Current year’s figures include the figures of investment business of JISCO (erstwhile) and hence.618 11.) 10.Information Memorandum Particulars 2004-2005 Rupees 52.948.625 4. The additional Information pursuant to Part II of Schedule VI to the Companies Act. not comparable with that of previous year.204) 100. There are no internal or external indications existing on the Balance Sheet date indicating that an asset is impaired. 10/. Previous year figures have been regrouped/ rearranged wherever necessary to confirm with current year’s presentation.09) Profit (loss) after Tax (As per Profit and Loss Account) Total Number of shares Earnings Per Share (Basic and Diluted) (Face Value – Rs. 11.77 2003-2004 Rupees (509. . 12.099. 1956 are either Nil or Not Applicable.per share) (Rs. 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.000 (5.

000 (5.000 (3.264 100.000 0.000 9.205) 5.204) 52.09) 52.36 (309.45 .473 100. of Shares EPS 2 Return on Net Worth (a) (b) (a)/(b) 50.618 11.321.618 (309.625 479.684 100. 31 2003 2004 2005 Net Profit after Tax No.321.000 10 936.Information Memorandum Annexure V Accounting Ratios 2002 1 Earning Per Share For the year Ended on March.09) 11.77 Net Profit after Tax Net Worth (a) (b) 500. of Shares NAV (a) (b) (a)/(b) 500.000 22.422 - 0.625 4.948.000 50.728.728.000 0 22.204) 100.099.473 (509.264 RONW 3 Net Asset Value (a)*100/(b) 0 2.684 936.132 - .948.099.205) 5.23 (509.995 Net Assets No.

06 53.110.00 (4.06 - NOTE: Since there are no Long Term and short term Debt.133 - .231. total Debt / Networth and Debt/ Equity ratio is not applicable.Information Memorandum Annexure VI CAPITALISATION STATEMENT Pre-issue as at 31-3-2004 As adjusted for Issue (Rupees in lacs) Short Term Debt Long Term Debt Shareholders Funds: Share Capital Reserves Total Shareholders Funds Long Term Debt /Equity 10.00 52.87) 5. .121.13 1.

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

subject to the provisions of Section 255 of the Act. . and the Company shall not be bound or required to regard or attend or give effect to any notice which may be given to it of any equitable right. Central. Subject to the provisions of Section 261. 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 number of Directors (excluding Debenture and Alternate Directors) shall not be less than three nor more than twelve. title or interest to or in the said shares. 1) Until otherwise determined by a General Meeting of the Company and subject to the provisions of Section 252 of the Act. 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. Sajjan Jindal 2) Mr. the Board shall have power at any time and from time to time to appoint any other qualified person to be an additional Director. nominate them and the appointer may appoint another or other in his or their place and also fill in vacancy. the Directors shall have. 120. 264 and 284 (6) of the Act.Information Memorandum person having or claiming any equitable right. 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. 261 and 264 of the Act. Saibal Kanti Gupta Whenever Directors enter into a contract with any Government. State or Local. 121. who are acceptable to the Board. though it may have been entered or referred to in some book of the Company. 2) 117. Subject to the provisions of Section 260. title or interest or be under any liability whatsoever for refusing or neglecting so to do.135 - . 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 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. 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. or referred thereto. A Director of the company shall not be bound to hold any qualification shares. Any such additional Director shall hold office only up to the date of next Annual General Meeting. 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. Board of Directors 116. 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. notwithstanding that the Company may have had notice of such equitable right. and may have such notice. in any book of the Company. 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. title or interest or notice prohibiting registration of such transfer. but so that the total number of Directors shall not at any time exceed the maximum fixed under Article 112. Nirmal Kumar Jain 3) Dr.

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

JSWHL.m. 6) Orders dated 3rd September.00 a. Sharepro Services (India) Pvt.Information Memorandum MATERIAL CONTRACTS AND DOCUMENTS The following contracts (not being contracts entered into in the ordinary course of business carried on by the Company).00 p. (Registrar and Transfer Agent) and Central Depository Services (India) Limited (CDSL) dated 14th day of February. Mumbai along with this Information Memorandum. 2005.m. to 4. Ltd. JVSL and their respective members and creditors.137 - . 5A – Dr. 8) Tripartite Agreement between the JSWHL. These documents have been delivered to The Stock Exchange. Ltd. Sharepro Services (India) Pvt. Patel in connection with his appointment as Jt. 2004 and 20th January. 2005. Mumbai – 400 026 for inspection from 10. which are or may be deemed material are available at our registered office of JSWHL at Jindal Mansion. Managing Director & CEO. . 2005 of the Honorable High Courts of Judicature at Bombay and Karnataka respectively approving the Scheme of Arrangement 7) Tripartite Agreement between the JSWHL. Deshmukh Marg. without reference to the shareholders. G. N. 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. (Registrar and Transfer Agent) and National Securities Depository Limited (NSDL) dated 23rd day of February. 9) A copy of the draft Agreement being executed between JSWHL and Mr. K. Any of the contracts or documents in this offer document may be amended or modified at any time if so required in the interest of the Company or if required by the other parties.

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

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

Sign up to vote on this title
UsefulNot useful