Information Memorandum

INFORMATION MEMORANDUM

JINDAL SOUTH WEST HOLDINGS LIMITED
(Incorporated as a public limited Company on July 12, 2001 and obtained Certificate of Commencement of Business dated September 5, 2001 under the Companies Act, 1956) Registered Office : Jindal Mansion, 5A – Dr. G. Deshmukh Marg, Mumbai – 400 026. Tel : (022) 2351 3000, Fax : (022) 2352 6400. Website : www.jsw.in INFORMATION MEMORANDUM FOR LISTING OF 1,10,99,625 EQUITY SHARES OF RS. 10/- EACH GENERAL RISKS Investment in equity and equity-related securities involve a degree of risk and investors should not invest in the equity shares of Jindal South West Holdings Limited unless they can afford to take the risk of losing their investment. Investors are advised to read the Risk Factors carefully before taking an investment decision in the shares of Jindal South West Holdings Limited. For taking an investment decision, investors must rely on their own examination of the Company including the risks involved. ABSOLUTE RESPONSIBILITY OF JINDAL SOUTH WEST HOLDINGS LIMITED Jindal South West Holdings Limited having made all reasonable inquiries, accepts responsibility for, and confirms that this Information Memorandum contains all information with regard to Jindal South West Holdings Limited, which is material, that the information contained in this Information Memorandum is true and correct in all material aspects and is not misleading in any material respect, that the opinions and intentions expressed herein are honestly held and that there are no other facts, the omission of which makes this Information Memorandum as a whole or any of such information or the expression of any such opinions or intentions misleading in any material respect. LISTING The Equity Shares of Jindal South West Holdings Limited are proposed to be listed on The Stock Exchange, Mumbai (BSE), National Stock Exchange of India Limited (NSE) and The Delhi Stock Exchange Association Limited (DSE). SHARE TRANSFER AGENT Sharepro Services (India) Pvt. Ltd. Satam Estate, 3rd Floor, Above Bank of Baroda, Cardinal Gracious Road, Chakala, Andheri (E), Mumbai – 400 099. Tel.: (022) 2821 5168 / 5991, Fax: (022) 2837 5646 Email: sharepro@vsnl.com.

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Information Memorandum

TABLE OF CONTENTS

Risk Factors……………….……………….……………….……………….…………….. General Information……………….……………….……………….……………….……. Capital Structure……………….……………….……………….……………….………... Objects of the Scheme of Arrangement & Amalgamation……………….………………. Business……………….……………….……………….……………….………………… History……………….……………….……………….……………….……………….…. Management……………….……………….……………….……………….……………. Promoters / Promoter Group Companies and Associated Companies……………….…… Subsidiary Companies……………….……………….……………….……………….…. Management Discussion & Analysis……………….……………….……………….…… Promise versus Performance……………….……………….……………….……………. Outstanding Litigation and Material Developments……………….……………….……. Government Approvals……………….……………….……………….………………… Other Regulatory Disclosures……………….……………….……………….………….. Dividend Policy……………….……………….……………….……………….………… Financial Information……………….……………….……………….……………….…... Main Provisions of the Articles of Association of JSWHL……………….……………… Material Contracts and Documents……………….……………….……………….……... Declaration……………….……………….……………….……………….……………... Definitions & Abbreviations……………….……………….……………….…………….

3 5 9 13 14 15 16 24 74 75 76 81 119 120 121 122 134 137 138 139

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Information Memorandum

RISK FACTORS
An investment in equity shares involves a high degree of risk. You should carefully consider all of the information in this Information Memorandum, including the risks and uncertainties described below. If any of the following risks actually occur, our business, financial condition and results of operations could suffer, the trading price of our Equity Shares could decline, and you may lose all or part of your investment. Internal Risk Factors Jindal South West Holdings Limited (“JSWHL”) is an Investment Company. Therefore, its main source of income is from dividend from its investment made in listed/unlisted companies. Therefore, any adverse financial impact on the operations / business / performance of investee companies will have negative impact on the revenue of JSWHL. Downturns or disruptions in the securities markets could reduce transaction volumes, and could cause a decline in the business and impact our profitability. A significant portion of our revenue has been from Dividend and although we may diversify our revenue sources, we expect dividend income to account for a significant portion of our revenues in the foreseeable future. Like other investment companies, we are affected directly by national and global economic and political conditions, broad trends in business and finance, disruptions to the securities markets and changes in volume and price levels securities and future transactions. We depend on our management team and the loss of team members may adversely affect our business. We believe that we have a strong team of professionals to oversee the operations and growth of our businesses. If one or more members of our management team are unable or willing to continue in their present positions, such persons would be difficult to replace and our business would be adversely affected. We may loose our key management team to our competitors. Future sales by shareholders could cause the price of equity shares to decline. If the shareholders sell a substantial number of equity shares in the public market, the market price of the equity shares could fall. Indian securities laws permit venture capital funds and foreign venture capital investors registered with SEBI as well as other shareholders other than promoters, to dispose of their equity shares immediately following the listing. The remaining pre-merger capital equity shares are subject to lock-in for 3 years from the date of listing. Equity shares held by promoters upto 20% of the post – issue capital are subject to lock in for a period of 3 years from the date of listing. Details about promoters and group companies Details about the promoters and group companies (including the loss making companies in one or more of the last three financial years ending March 31, 2004) along with litigation details, penalty, if any, imposed by regulatory authorities against the promoters and group companies are provided hereinafter in this Information Memorandum in respective sections. External Risk Factors Legal and Compliance Risk Legal and compliance risk refers to the possibility that we will be found, by a court, arbitration panel or regulatory authority, not to have complied with an applicable legal or regulatory requirement. In addition, we are subject to extensive regulation by SEBI, BSE, NSE, DSE, RBI and other state and -3-

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

2000. Sajjan Jindal. Maharashtra. Atul Desai Mr. Mumbai on February 4. CFD/DIL/SR/38545/2005 dated April 15. 2003 (i. Mumbai (“BSE”). Mumbai on November 22. be listed and admitted to trading on The Stock Exchange. the Appointed Date under the Scheme).3. 1st April. the National Stock Exchange of India Limited (“NSE”) and The Delhi Stock Exchange Association Limited (“DSE”). which is the Effective Date of the Scheme. NSE and DSE at the time of the application by JSWHL seeking listing. pursuant to the provisions of Section 391-394 of the Companies Act. Maharashtra. Marine Drive.4 of SEBI (DIP) Guidelines.3. 100. Chairman Mr.5. K.Information Memorandum GENERAL INFORMATION Name & Registered office of the Company Jindal South West Holdings Limited Jindal Mansion. subject to subsisting of charges and pledges. Jindal South West Holdings Limited (“JSWHL”). 2004 and the Order of the Honourable High Court of Karnataka was filed by JSWHL with the ROC.5.3 and 8. 2005. K. SEBI. Such listing and admission for trading is not automatic and will be subject to fulfillment by JSWHL of listing criteria of BSE. or deed. Maharashtra. 5A – Dr. stands transferred to and vested in JSWHL so as to vest in the JSWHL all the rights. Board of Directors 1) 2) 3) 4) 5) 6) Mr. 8. 11-132705 – registered with : The Registrar of Companies. 1956. vide its letter no. 1957 (SCRR) subject to JSWHL complying with the provisions of Clauses 8. N. Gupta Mr. instrument. Subsequently. Jain Dr. subject to applicable regulations. Patel.e.5. title and interest of JISCO therein. Mumbai – 400 026. without any further act. Mumbai. the Equity Shares of JSWHL issued pursuant to the Scheme as well as existing shares of JSWHL issued for the purpose of incorporation shall.3. Registration No. S. Deshmukh Marg. Everest. G.f. have approved the Scheme of Arrangement & Amalgamation between Jindal Iron & Steel Company Limited (“JISCO”). N. Jt. Jindal Vijayanagar Steel Limited (“JVSL”) and their respective members and creditors (the “Scheme”) whereby the Investment Division of JISCO. Managing Director & CEO Mr. In accordance with the said Scheme.e. above relaxation is also subject to JSWHL confirming the following: - -5- .1 (iv) – (viii). NSE and DSE for such issues and also subject to such other terms and conditions as may be prescribed by BSE. 2005 respectively. 2004 and January 20. Mumbai – 400 002. Further. if any w. Shailesh Haribhakti Authority for Listing The Honourable High Courts of Judicature at Bombay and of Karnataka vide their Orders dated September 3. K. 2005 has granted relaxation from the applicability of Rule 19(2)(b) of the Securities Contract Regulation (Rules). The aforesaid Order of the Honourable High Court of Judicature at Bombay was filed by JSWHL with the Registrar of Companies (“ROC”).

namely.3. JSWHL has made the said Information Memorandum available on its website. ii) Any shareholder of pre-scheme unlisted transferee company. its directors.5. All information shall be made available by the Company to the public and investors at large and no selective or additional information would be available for a section of the investors in any manner. namely. or warrant that this Company’s securities will be listed or will continue to be listed on the BSE. The company has filed applications with BSE for listing of above Equity Shares. namely. a copy of this Information Memorandum has been submitted to BSE. Jindal South West Holdings Limited to be with public holders of shares in the pre-arrangement listed transferor company. Disclaimer Clause of BSE As required.4 of SEBI (DIP) Guidelines.3.1 (iii) of SEBI (DIP) Guidelines. JSWHL will publish an advertisement in the newspapers containing its details in line with the details required as per clause 8. containing information about itself and Group Companies to BSE. Jindal Iron & Steel Company Limited as defined in SEBI (Substantial Acquisition of Shares & Takeovers) Regulations. JSWHL has submitted its Information Memorandum. NSE and DSE for making the said Information Memorandum available to public through their websites. namely. the “Public Holders” referred in clause 8.5. certify or endorse the correctness or completeness of any of the contents of this Information Memorandum. JSWHL will comply with the aforesaid conditions stipulated by SEBI. 1997. Jindal Iron & Steel Company Limited. Prohibition by SEBI The Company. 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.4 of SEBI (DIP) Guidelines. 2000 excludes the following: i) Promoters and persons acting in concert of pre-arrangement listed transferor company. or -6- . Jindal South West Holdings Limited b) Neither the unlisted transferee Company. namely. The BSE does not in any manner: warrant.5. Jindal South West Holdings Limited nor its promoters/directors are debarred by SEBI from accessing the capital market.Information Memorandum a) For the purpose of satisfying at least 25% of post-scheme paid up capital of unlisted transferee 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. 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 8.3. its promoters.

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

Information Memorandum

Share Transfer Agent Sharepro Services (India) Pvt. Ltd. Satam Estate, 3rd Floor, Above Bank of Baroda, Cardinal Gracious Road, Chakala, Andheri (E), Mumbai – 400 099. Tel.: (022) 2821 5168 / 5991, Fax: (022) 2837 5646 Email: sharepro@vsnl.com. Registrar & Share Transfer Agent’s Investor Relation Centre Sharepro Services (India) Pvt. Ltd. 912, Raheja Centre, Free Press Journal Marg, Nariman Point, Mumbai – 400 021. Tel : (022) 2288 4527, 2284 4668 Fax : (022) 2282 5484

Auditors Shah Gupta & Co. Chartered Accountants 38, Bombay Mutual Building, 2nd Floor, Dr. D. N. Road, Fort, Mumbai – 400 001. Banker to the Company Vijaya Bank Clover Apartment, 29, Cuffe Parade, Colaba, Mumbai – 400 005. Compliance Officer and Company Secretary Mr. Virendra Samani Jindal South West Holdings Limited Jindal Mansion, 5A – Dr. G. Deshmukh Marg, Mumbai – 400 026. Tel : (022) 2351 3000, Fax : (022) 2352 6400 Email : viren.samani@jisco.com Investors can contact the Compliance Officer in case of any share transfer related problem.

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Information Memorandum

CAPITAL STRUCTURE

SHARE CAPITAL A. Authorised Share Capital 1,15,00,000 Equity Shares of Rs. 10/- each Issued, Subscribed And Paid-Up Capital 1,10,99,625 Equity Shares of Rs. 10/- each fully paid up Number of Equity Shares issued as per Scheme of Arrangement & Amalgamation approved by the High Court of Judicature, at Mumbai and Karnataka 109,99,625 Equity Shares of Rs. 10/- each Equity Capital after implementation of the Scheme 1,10,99,625 Equity Shares of Rs. 10/- each Share Premium Account Before the Scheme After the Scheme

Aggregate Value (in Rs.) : 11,50,00,000

B.

: :

11,09,96,250

C.

: :

10,99,96,250

D.

11,09,96,250

E.

: :

---

1) The authorised share capital of the Company at the time of incorporation was Rs. 25 lakhs, divided into 2,50,000 equity shares of Rs.10 each. Subsequently the authorized share capital was increased to Rs 11.50 crores vide resolution passed at its Extra-Ordinary General Meeting held on December 6, 2003. 2) As per the Scheme, JSWHL issued 1,09,99,625 equity shares to erstwhile shareholders of JISCO [holding fully paid-up shares in JISCO and whose names appeared in the register of members of JISCO on record date (i.e. February 25, 2005)] in respect of every 4 equity shares of the face value of Rs.10/- each fully paid-up held by him/ her/ it in JISCO, 1 equity share of the face value of Rs.10/- each of the Company as fully paid up. Notes to the Capital Structure
1) Share Capital History of our Company
Sr. No Date of Allotment Mode of Issue No. of Shares Cummulative paid up capital (Rs.) Issue Price (Rs.) Face Value (Rs.) % of post Scheme paid up capital

1

27/08/01

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

50000

500000

10/-

10/-

0.45%

2

10/03/03

50000

1000000

10/-

10/-

0.45%

3

16/03/05

Pursuant to the Scheme of Arrangement & Amalgamation

10999625

110996250

10/-

10/-

99.10%

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Information Memorandum

2) Lock-in details for shares of JSWHL:

The promoters shall lock-in to the extent of 20% of the post merger paid up capital (i.e. 22,19,925 equity shares) of JSWHL and also the balance of the entire pre-merger capital of JSWHL (i.e. 1,00,000 equity shares) for a period of three (3) years from the date of listing of shares. In nutshell, the total shares to be under lock-in will be to the extent of 23,19,925 equity shares.
3) Promoters of JSWHL, their relatives and associates, and their Directors have not purchased or

sold or financed, directly or indirectly, any equity shares from the date of approval of the Scheme by the High Courts till the date of submission of this Information Memorandum except the allotment of shares were made pursuant to the Scheme of Arrangement & Amalgamation.
4) Shareholding pattern of JSWHL before and after the Scheme:

Category A. Promoter Group

Pre-Scheme No. Shares %

Post-Scheme No. Shares %

(1) Promoters -- Indian Promoters -- Foreign Promoters (2) Persons Acting in Concert Sub-Total (A) B. Non-Promoters (3) Institutional Investors (a) UTI (b) Mutual Funds Institutions, 99,500 -500 1,00,000 99.50 -0.50 100.00 62,07,302 -5,246 62,12,548 55.92 -0.05 55.97

-----

-----

10,851 6,14,595 2,23,308

0.10 5.54 2.01

(c) Banks, Financial Insurance Companies (d) FIIs

-Sub-Total --

---

18,71,431 27,20,185

16.86 24.51

(4) Others (a) Private Corporate Bodies (b) Indian Public (c) NRIs / OCBs (d) Any other (please specify) – Trust Sub-Total (B) Grand Total (A+B)

-----1,00,000

-----100.00

438,218 15,14,116 1,52,599 61,959 21,66,892 1,10,99,625

3.95 13.64 1.37 0.56 19.52 100.00

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11 - . 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. 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. Kantilal Narandas Patel Mr. Ltd. there are no outstanding warrants. Nirmal Kumar Jain Mr. Seshagiri Rao M V S Mr. No. 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. Vishnu Prakash Garg Mr. 8) JSWHL presently does not have any intention or proposal to alter its Equity capital structure for a period of six (6) months from the date of listing the shares. loans or other instruments into equity shares of JSWHL. by way of split/consolidation of the denomination of Equity Shares or further issue of Equity Shares (including issue of securities .Information Memorandum 5) The list of top 10 shareholders of JSWHL and the number of Equity Shares held by them: (a) Sr. Raman Madhok Mr. Vijay Karayi Total 20000 15000 14300 100 100 100 100 100 100 100 50000 6) As on the date of this Information Memorandum. 7) There will be no further issue of Equity capital whether by way of issue of bonus shares. preferential allotment. Ram Prakash Nangalia Mr. Beaufield Holdings Ltd Jindal Equipment Leasing and Consultancy Services Ltd Sun Investments Private Ltd HSBC Equity Fund Reynold Traders Pvt. Ltd. No. options or rights to convert debentures. 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.

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

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

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

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

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

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

light music. he led JISCO’s tremendous growth in turnover. Gupta is B. light music. Mr. From inception. Jain has been invited as a core member of various corporate management groups. Mr. He has made significant contribution in the areas of Financial Management. which is implemented by Jindal Organisation with JISCO as the lead promoter.). Engg. (Tech.). N. prior to joining the Jindal Organisation. Jain has been closely associated with Jindal Vijayanagar Steel Limited. K. (Tech. N. Project Identification & Appraisal.D. K. Having extensively traveled to Asia.Information Memorandum Mr. Jain Mr. His personal interest lies in reading. Management Information Systems and Corporate Taxation. Mr.18 - . He joined Jindal Iron & Steel Company Limited (erstwhile) as Vice President (Finance) in August. His professional interests include management development / training and his personal interests lie in yoga. He was with Permanent Magnets Limited for 22 years. Corporate Financial Management and also Human Resources. Gupta Dr. 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. Europe and USA. 58. Nirmal Kumar Jain. 1995 and was responsible for Corporate Finance. Jindal Technologies and Management Services Private Limited & other companies. Jain holds a fellowship from the Institute of Chartered Accountants and The Institute of Company Secretaries of India. K. Jindal is a young and dynamic entrepreneur who believes that India is a global destination for industry and trade.Sc. Dr. he has gained enormous insights into the workings of many successful companies overseas. theatre and sports. He believes that the key to success for any entrepreneur is to change his business model ahead of time. He is a strong supporter of team building and core competence. theatre and reading. Mr. He is Chairman of JSW Power Limited and also director of other Jindal Group Companies. He also acted as Director (Commercial) & Director (Corporate Affairs) of JISCO. S. He was also involved in negotiating the joint venture collaboration of JVSL with Tractebel of Belgium for setting up the 2 x 130 mw Power Plant and with Praxair of USA for 2 x 2500 tpd air separation plant. He made significant contributions in the areas of Strategic Planning. Mr. He was with Standard Industries Limited for 21 years prior to joining the Jindal Group.) . Sapphire Technologies Limited. Joining as General Manager – Finance in 1992. integrated steel plant. Patel Kantilal Narandas Patel is a Commerce Graduate from Mumbai University and Fellow Member of Institute of Chartered Accountants of India. (Met. N. D. Accounts and Taxation. K. Mr.Sc. Patel is also Director of Jindal Steel & Alloys Limited. Ph. He was Executive Vice Chairman of Jindal Iron & Steel Company Limited (JISCO – now merged with JVSL).

R&D Centre.. CSIR. London . SAIL. Managing Director. Work Experience of Mr. Bombay. Part-time Director .1998.. Tata Refractories Ltd. Editor of a Monograph on Blast Furnace Iron making..Indian Institute of Metals. Chairman. Chairman. Advocates & Solicitors. Central Mine Planning & Design Institute Ltd. Dhanbad. Independent Technical/Management Consultant to: . Calcutta-1995 National Metallurgist Award .. Mishra Dhatu Nigam Ltd. Sponge Iron India Ltd. Has attended to a large number of arbitrations involving commercial disputes and disputes under Building Contracts and Turn-key Contracts. Managing Director. (Super Alloys Plant). Mr.B. Several National Committees constituted by the Ministry of Steel.. Regional Research Laboratory. Member .Executive Board. Jindal Vijayanagar Steel Ltd. Indian Institute of Technology. & Head of Metallurgical Engineering. Atul Desai Mr.The Caparo Group. . Central Fuel Research Laboratory. Hindustan Zinc Ltd.. Became a partner of M/s Kanga & Co. Atul Desai born on January 27. on 01-04-1980 Has attended to about 100 mergers and amalgamations and demergers in the Bombay High Court. Belgium.. Calcutta. Ministry of Defence. Research Council.Voest-Alpine Industrieanlagenbau GmbH. B. UNESCO Fellow to Moscow Steel Institute Distinguished Alumnus Award.. Committee of Technology. Ltd. Iron & Steel Division. Chairman.1980 Honorary Member . SAIL. Government of India... etc. reputed Law Firm as solicitor Assistant in November. Department of Science & Technology.. Bhubaneswar. National Institute of Foundry & Forge Technology.Information Memorandum Formerly: Prof. Published over 75 research papers in India and abroad on technology and management. & Member. 1974.19 - .The Government of Orissa President/Managing Director/Executive Vice Chairman. Task Force on ‘Steel Growth Plan till 2010’. Sindri Metallurgist of the year Award .Indian Institute of Metals. Board of Governors. Calcutta. Bharat Bhari Udyog Nigam Ltd. Board of Directors.Industrial Development Bank of India. President . Indian Iron & Steel Co. LL. Jindal Iron & Steel Company Ltd. Chairman-cum-Managing Director. Linz. Jindal Praxair Oxygen Company Ltd. Vishakapatnam Steel Plant (RINL). 1950 is B. Solicitor & Advocate. Standing Conference of Public Enterprises (SCOPE). Desai : • • • • Joined M/s Kanga & Co.. International Iron & Steel Institute.I. Sc. Austria . Rourkela Steel Plant. Research Council.T. Holds three patents. MECON Ltd. Hyderabad Director. Indian Institute of Metals.

Remuneration : (a) The remuneration of the Jt.04 and as Chairman – Corporate Governance Committee of ASSOCHAM in 2001. Period : Five years from 28. He has been with the Group since 1978. Mr. Managing Director & CEO. Patel setting out the detailed terms and conditions of his appointment as Jt. He served as the President of Indian Merchants’ Chamber for 2003. Managing Director & CEO will be so fixed by the Board of Directors from time to time that the Salary. Performance Incentive. N.R.04. medical reimbursement. IT in today’s business scenario and Valuation. N.Information Memorandum Mr. 6 lacs per month. club fees and leave travel concession for himself and his family. within the overall ceiling as mentioned above has been fixed as under: - (b) . His contribution to the corporate world and society comes through the leadership roles. having a presence of more than five decades in the areas of accounting.Information Technology Committee of the Indian Merchants’ Chamber (IMC) 2001 Chairman – Corporate Governance Committee of ASSOCHAM 2001 Arbitrator – Appointed by Indian Council of Arbitration. 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. ESOPs & Privately Placed Equity and on the Naresh Chandra Committee on Corporate Governance. He also served as ASSOCHAM Nominee on the J. financial and management services in India. some of which are given below: • • • • • • • President – Indian Merchants’ Chamber 2003-04 Chairman . Managing Director & CEO is eligible to the following compensation: 1.2010. Patel who is the Jt. furnishings and repairs. He writes prolifically on the web and in various newspapers and magazines. K. Haribhakti has made vast contributions to the corporate world and society through various leadership roles. house maintenance allowance together with reimbursement of expenses or allowances for utilities such as electricity. Verma Committee on Sweat Equity. Patel shall not exceed a maximum ceiling of 125% of his Basic Salary. Accounting Standards. He is on the Board of some reputed listed Companies also. This draft agreement will be available for inspection at the registered office of the Company. the aggregate value of all the perquisites and allowances like furnished accommodation or HRA in lieu thereof. 2. Perquisites and allowances shall not exceed overall ceiling of Rs. Managing Director & CEO of JSWHL. Currently the remuneration of Jt. Compensation of Managing Directors / Whole time Directors An agreement being executed between JSWHL and Mr. medical insurance. and CEO of Haribhakti Group. Mr.04. 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.2005 to 27. K.. Shailesh Haribhakti Shailesh Haribhakti is a senior Chartered Accountant and Managing Partner of Haribhakti & Co.20 - . Further. Bonus.

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

Mr. Jt. K.Information Memorandum Mr.22 - . Jain Dr. Mohta is responsible for Management Services Division and reports to Mr. Gupta Mr.900 246 --- Mr. Managing Director & CEO of the Company for a period of 5 (five) years w. Sajjan Jindal Mr.f April 28. Shailesh Haribhakti Date of Appointment Since incorporation 28. Manoj Kumar Mohta has been appointed as Deputy General Manager. K. N. K.e. Managing Director & CEO Appointed as Director Appointed as Director Appointed as Additional Director Appointed as Additional Director Management Organization Structure of JSWHL Mr. Patel.f. K.2005 Date of Resignation ------Reasons Appointed as Director Appointed as Jt.N. Mr. Managing Director & CEO w. S. Change in Board of Directors of JSWHL since its inception Name Mr. K.760 2.2005 31. Shareholding of Directors Name of Director No of Shares of JISCO as on February 25. 2005 (i.e. K. Managing Director & CEO. Patel Mr.200 19. N. N. K. N. reporting to Mr. Patel. 2005.189 550 4. K. Legal and Administration work of the Company. Gupta Mr. Patel is Jt. Sajjan Jindal Mr. Managing Director & CEO. . K.600 984 --No of Shares of JSWHL allotted as per the Scheme 3. Mr. Gupta Mr.2005 Since incorporation Since incorporation 31. K.01. Shailesh Haribhakti Interest of the Directors Mr. N. N. Patel. Jain Dr. N. Term of Office All the directors are liable to retire by rotation except Mr. the record date) 12. S. N.e. Other than as stated above and the respective shareholding of the directors mentioned above. April 28. Patel Mr. Virendra Samani is appointed as Company Secretary and is looking after the Secretarial. K. Atul Desai Mr. 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.04. S. the directors of JSWHL have no other interest in JSWHL.01. Atul Desai Mr. who has been appointed as the Jt. Jain Dr. Atul Desai Mr. Patel has been appointed as Jt. K. Shailesh Haribhakti Non-Executive Independent Independent Independent √ -√ √ √ √ √ -- √ √ √ -- JSWHL undertakes to adopt the Corporate Governance Code as per Clause 49 of the listing agreement to be entered into with the Stock Exchanges prior to listing.

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

1975. Mrs. mainly dealing and investing in securities.V.59 9.395 2. The board of directors of the company comprises Mr. the company is now a Non Banking Finance Company. Mr.: F 0256563 Mr.Information Memorandum PROMOTERS/PRMOTER GROUP COMPANIES AND ASSOCIATED COMPANIES Educational Qualification: B. Mr. The group companies have been classified into the Promoter Companies. aged 46 years.24 - . is Chairman of the Company. Deepika Jindal. Promoter Group Companies and Associate Companies as given below. Subsequent to restructuring. H. He was the Chairman and Managing Director of erstwhile JISCO and the Managing Director of JVSL. 1970 as Jindal Strips Private Limited. vii Stainless Investments Ltd. Mr.248 504. Ratan Jindal. The name of the company was changed to Jindal Strips Limited on May 5.861 206.158 92.G. Ltd.) Driving License No. (A) Promoter Companies (1) Jindal Strips Limited (JSL) The company was promoted by Late Shri O. (Mech. Consequent to the merger of the two companies. ii Sun Investments Ltd iii Colorado Trading Co. Mr. R. Garg and Mr.738 112. Mr. Ltd. Indore and a member of TTD Development Advisory council and Bombay chapter of the Young President Organization. Jindal is the director in Jindal Aluminum Limited and South West Port Limited. Shareholding Pattern The shareholding pattern as on March 31.E.P.683 78.01 1. Category No. Mishra. vi Nalwa Investments Ltd. Rajinder Parkash. No.20 1.83 2.22 4.794 62.: 44304/Hissar Passport No. iv Everplus Securities & Finance Ltd v Mansarover Investments Ltd. Promoter’s holding 1 Promoters: Indian Promoters: i Gagan Trading Co. He has more than twenty years experience in the industry.53 . He is also the director of Indian Institute of Management. Jindal is the Vice Chairman and Managing Director of the merged entity. A. He is also the Chairman of Jindal Thermal Power Company Limited and Twenty-First Century Printers Limited. Sajjan Jindal. 2005 is as follows: Sr. Jindal and was incorporated on November 18.80 1. Rakesh Garg. of shares % of shareholding 133. He was instrumental in setting up JVSL.

565 30.000 55.44 (44.62 1.08 5. Institutions / Non. c.) 2003-04 5.611 54 2. Financial Institutions.994 488.199 5.687 185 2.02 0.419 2.Government Institutions) FIIs.61 31.46 11.06 2.) BV (Rs.59 778 32.07 8.19) (86.923 268.279.41 1484.268 109.74 44.205.91 446.00 55.48 6.99 253.76 9. b.26 12.565 125.393 141.25 - .00 Financial performance The financial performance of the company (Rs.856.13 293.00 1. d.611 274.65 40% 15. Sub-total (3) Others: Private Corporate Bodies Indian Public i.751 312.964 1.780 186. Insurance Companies (Central/ State Govt. 4 a.145 257.38 100.23 2.13 249./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. c.00 43.63 2.229 120.45 6.01 2.56 2.05) 495.08 23.70 60% 5.Ltd x Hexa Securities & Finance Co. b.07 5. in crores) is given below: Share capital .729 311.35 0. Ser.163 0. 3 a.03 0.361 1.437 0.Ltd xi Jindal Equipment Leas & Con. viii Manjula Finances Ltd ix Vrindavan Services P.51 5.Equity Reserves and surplus (excluding revaluation reserves) Sales (including Excise duty) Interest and Dividend Income Other Income PAT Dividend (%) EPS (Rs.26 81.136.66 .35 0. 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) 54.24 2001-02 18.Ltd xii Saw Pipes Ltd.64 3.246.Information Memorandum 2 B.22 2002-03 5.12 1.

0001 0.0001 0.90 242. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Mr.00 BSE Low (Rs.00 282.25 230.00 The market price of shares of the company (as on March 31. Prithviraj Jindal Mr. Naveen Jindal Mr. Resolved/Replied: 520 and Pending:20.00 360.00 252. in lacs) is given below: No. The Board of directors of the company comprises Mr.00 250.00 196.90 High (Rs. 1990 in the State of Maharashtra and thereafter the registered Office of the company was shifted to State of Haryana on November 9.10 216.00 239.) 197. It is registered with RBI as Non Banking Finance Company and main business is to deal in securities.00 292.0000 .50 251. Sajjan Jindal Mr.00 218.0001 0. 257. depending on the type of complaint.80 330.30 244.9509 13.0001 0. Rajendar Gupta and Mr. Mahesh Jain.0001 0.) 197.) 210. The average time taken by the company for redressal of complaints varies from 7 to 20 days.00 250.00 268.15 and the market capitalization was Rs.10 197. 2005) on BSE was Rs.30 284. 132.00 294.Information Memorandum Stock Market Data Month September 04 October 04 November 04 December 04 January 05 February 05 March 05 NSE High (Rs.00 Low (Rs.90 243. Ratan Jindal Mr. Particulars of investor complaints during the period April 2004 to March 2005 are as follows: Complaints Received: 540.0488 100.08 crores. of Shares 10 10 15 10 10 10 16085755 2414000 18499820 % of shareholding 0.) 208. 1998. Madan Lal Gupta. (2) Jindal Holdings Limited The Company was incorporated on February 6. Om Prakash Jindal Mr.60 365. Sushil Bhuwalka Jindal Strips Ltd Jindal Steel & Power Ltd Total Financial performance The financial performance of the company (Rs.26 - .05 222.00 245. The company has engaged the services of a Registrar & Transfer Agent to handle the grievances of the investors. Mr.0001 86.00 310.

000 2.41 6.581.62) 17.200 2.420.750 181.025.420.000 47.433.44 14.Information Memorandum Particulars Share capital Reserves and surplus (excluding revaluation reserves) Turnover /receipts Profit /(loss) after tax Dividend (%) EPS (Rs. Sunil Mittal and Mr.112. Investment and finance related consultancy services.44 13.10 (10.450 52.82 0. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Mansarover Investments Ltd Ever plus Securities & Finance Ltd Jindal Steel & Power Ltd.477.) BV (Rs.954.000 1.256. The Board of directors of the company comprises Mr.) FY03-04 167.420.44 14.433.98 5699.758.750 181. Goel.927.420.457. Estrella Investment Co.581. Services Ltd M/s R. 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.74 18.000 551. D.000 2.12 83.72 NIL 0.12 5. Heston Securities Ltd.37 (298.27 - . P.44 14.12 3.70) Nil 32.95 7. P.658.433. 1982 as a Private Limited Company and converted into a public limited company.000 2.84 3. Investments Beaufield Holdings Ltd Templar Investment Ltd.06 441.250 27.581.21 0.13 (77.05 FY02-03 1849.92) NIL (0.000 640.61 12. Mr.98 5699.05 17.250 4. The Company is engaged in the business of finance.175 % of shareholding 6.60 FY01-02 167.01 (216.320.000 1.750 181.28 0.67 FY01-02 1849.627.000 160.983.242. Sharma. The Company was registered with Reserve Bank of India as Non Banking Financial Company (not accepting public deposit) on 12th March 1998.63) Nil 33.12 24. of Shares 1.08) Nil 34.525 16.732. Pental Holding Ltd. Mahender Kr.98 5699. Investment M/s R.000 2.00 (excluding .3 FY02-03 167.250 17.) FY03-04 1849.08 NIL 0.) BV (Rs.717.08 (3) Stainless Investments Limited This Company was incorporated on September 15.K.29 100.040. Ltd.55 No.31 14. Jindal Strips Ltd Jindal Equipment Leasing & Cons.

With effect from August 7.01 13. Saxena and Mr. Jindal Equipment Leasing & Cons.60 1.856.500 10. Manjula Finances Ltd.500 912. of Shares 115. 1984 as Jindal Equipment And Finance Limited.) BV (Rs. . 1986 the name of the company was changed to Jindal Equipment Leasing & Consultancy Services Limited . Vrindavan Services Pvt. Pental Holding 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.39. The Company is engaged in the business of finance.517.000 218. 1981 as a Private Limited Company and subsequently became a public limited company. Estrella Investment Co.85.538.0023 NIL 0.28 - . Goel.816.The Company is registered with RBI to carry on the business of Non Banking Financial Company.000 1. Investment and finance related consultancy services.823.500 300. Jindal Holdings Ltd.124.68 FY02-03 1.39.800 223.823.) FY03-04 1.828.9 No.Information Memorandum (4) Mansarover Investments Limited Mansarover Investments Ltd was incorporated on June 8.816.816.000 218.823.5 20. Templar Investment Ltd.54 1.17 7. D. Shallu Jindal.000 13.83 6.000 15. Ratan Jindal.831) NIL 1.01 13.22 19.61 18.00 (excluding (5) Jindal Equipment Leasing and Consultancy Services Limited The Company was incorporated on March 29.78 13. K.800 % of shareholding 0.43 2.000 35.726 21. Beaufield Holding Ltd. Goel. S.000 218. Board of directors of the company comprises Mrs. The Board of directors of the company comprises Mr.15 12.383 (22.597.442 NIL 1.17 FY01-02 1.538.816. Mr.01 13.783 2.697.01 13.953.000 1.038. D.500 199.000 1. Ashok Goel and Mr. S.816.000 1. Stainless Investments Ltd. Ltd. Services Ltd Jindal Strips Ltd. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Abhinandan Investments Ltd.000 1.538.000 1. K. 1998.44 100.39.000 13. Heston Securities Ltd.000 340.01 2. Ltd. The Company was registered as NBFC with Reserve Bank of India (not accepting public deposit) on September 25. Mr.

300 1. Ltd.600 (10.750.700 % of shareholding 3. Shareholding Pattern The shareholding pattern is as follows: . Subhash Chandra Sharma.630. 1998 the Company got registered with Reserve Bank of India as Non Banking Financial Company (not accepting public deposit).21 19. P.570 NIL 1. 10/-each 2.39) 33.Ltd.327 NIL 6.000 13.000 19.000 115.750.000 302.) NIL (1.700 Equity Shares of Rs.Information Memorandum Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Abhinandan Investments Ltd.47 1.29 - .30.29 1.000. Mansarover Investments Ltd.327.43 100. Other individuals/HUFs Total Financial performance The financial performance of the company is given below Particulars Share capital (Issued.465.000 10% Cumulative Redeemable Preference Shares of Rs.20. of Shares 248.394.000 1.29 17.531.003.327. Investment and finance related consultancy services. The Board of directors of the company comprises Mr. Renuka Financial Services Ltd Jindal Holdings Ltd.45 34. S. Ltd.06 (6) Nalwa Investments Limited The Company was incorporated on February 6. Jindal Strips Ltd. 1981 and is engaged in the business of finance.000 521.000 23.74 14.49 5. Vrindavan Services Pvt. 100/-each Reserves and surplus (excluding revaluation reserves) Sales PAT Dividend (%) EPS (Rs.000 40.127.000 23. Mr.80 6. R.000 65.000 302. Gagan Trading Co Ltd.500 285.000 302. Aras Overseas P.476 11.000 23.531.792 48.000 100.815.000 1.69 6.750.) BV (Rs. Saxena and Mr.000.900 7.732.000.77 77. Ltd.51 77.000 419.193.327.000 500. S. Stainless Investments Ltd. Sun Investments Pvt.732.000 100.07 1.26 40.568.) FY03-04 FY02-03 FY01-02 No.95 3.00 77. On March 21.57 18. Jindal. Subscribed & paid-up) 7. Musuko Trading P.

K.038.000 Equity Shares of Rs. Parmod Garg.400.101 (2.05 5.) No.14 5. Mr.59) Nil (18.) BV (Rs.31 7. Deepika Jindal.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.000 Nil 12.34 NIL 52.8) 4.10 5. 1983 and is engaged in the business of finance.500.13 7.000.13 (136.400 32.K.35) NIL (5.74 43.99 100. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Arti Jindal Naveen Jindal Sajjan Jindal S. Investment and finance related consultancy services.457.89 4.5) This company is listed on Delhi Stock Exchange Associations Limited.Jindal R. of Shares 1.Jindal & Sons HUF .Jindal & Sons HUF S.753. On March 19.000. Sun Investments Ltd.50.K.221.P.222 (8. Everplus Sec. of Shares 200 10.R.000 140.000 10% Cumulative Redeemable Preference Shares of Rs.550 5.33 .000 % of shareholding 0. The Board of directors of the company comprises Mrs.26) (183.100 34.000 140.650 23.713.705 23.26 5. Sunil Mittal and Mr. 1998.650 % of shareholding 0.000 140.572.000 Nil 39.701.350 112.150 23. Subscribed & Paid-up) 4.700 100 10.Jindal & Sons HUF P.000 Nil 36.000 19.30 No.000. & Finance Ltd.850 197950 450.356. the Company got registered with Reserve Bank of India as Non Banking Financial Company (not accepting public deposit).517.Information Memorandum Name of the Shareholder Abhinandan Investments Ltd. O.34 1. 100/-each Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs.59) (189) 4.500.19 24.500.35 0. 10/-each 1. There has been no trading in shares in preceding six months (7) Abhinandan Investments Limited The Company was incorporated on April 6.00 FY03-04 FY02-03 FY01-02 4.

650 23.10.R.) BV (Rs. Tauro. 1984 as Saw Pipes Ltd.) (Equity Shares only) FY03-04 FY02-03 FY01-02 2. P.086. Kuldip Bhargava.000.000.HUF Ever plus Securities & Finance Ltd Sun Investments Pvt. Satya Prasad and Mr. January 11. 100/-each Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs. Purshottam Lal.000.000. Sminu Jindal.127 (7. Mr.33 6.e.93 5. 10/-each 8.986. The name of the company was changed to Jindal Saw Ltd. Mr. R. Swastik Udyog. Swastik Foils was amalgamated into the company in 1988-89.A.00 Shares of the Company were listed on November 28. H. As part of backward integration.650 13.907. a subsidiary of Jindal Strips.Jindal .03 100.000 500 1. Ms. Mr. M.000 5.650 10.000 Nil 20.000 Nil 13. Moosa Raza. 2005.9) 2. S.502.00 46.51) (276) (8) Jindal Saw Limited The company was incorporated on October 31.00.812 18.050 200.83 5.000 81. 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.50 4. Jindal.00 4. There has been no trading in shares in preceding six months. Chaudhary. Mr.409.43) (291.850 10.000 92.28 (199. The company is an established player in the country for manufacturing and coating large diameter Submerged Arc Welded (SAW) line pipes. Subscribed & Paid-up) 2. was merged with the company in 1991-92.25 0.945.000 10% Cumulative Redeemable Preference Shares of Rs. 1983 on Delhi Stock Exchange Associations Limited.000.060.33 11.000 8. Ltd Stainless Investments ltd Mansarover Investments ltd Nalwa Investments ltd Jindal Strips Ltd Others Total 10. Mr. Savitri Devi Jindal (Chairperson) Mr.31 - .43) Nil (37. Shareholding Pattern .J. V.000 81. w. A. Mr.70) NIL (15.741 (3.37 NIL 91.255.000 8. which produces thicker gauge steel strips.000 81.Information Memorandum Savitri Devi Jindal Deepika Jindal P.00 0. Financial performance The financial performance of the company is given below Particulars Share capital (Issued.000 Nil 23.3) 2. Devi Dayal.f.132.000 Equity Shares of Rs.000. The board of directors of the company comprises Smt.

30 235.52 -33. 1120.) BV (Rs.Total Others Private Corporate Bodies Indian Public NRIs / QCBs Any other (please specify) Sub . Institution.25 212.30 56.100 -21. Non Promoters’ Holding Institutional Investors Mutual Funds and UTI Banks. 2.50 304.90 287.26 11.56 1123.08 25% 19.35 The market price of shares of the company (as on April 5.25 c.34 804.96 76. Institutions/NonGovt. b.32 - .48 225.32 76.355 97.58 2002-03 38.00 182.702.34 15% 10.Information Memorandum The shareholding pattern as on March 31.80 242.07 100. .458 4.755.60 242.800 45.13 42.419 1763356 4864705 6262320 -12.40 Low (Rs. of shares % of shareholding A.88 4.90 High (Rs.00 236. 2004 to March.Total B.41 91. 17.35 242. The average time taken by the company for redressal of complaints is up to 15 days.00 BSE Low (Rs. 287.98 290.) 183.00 191. c.Foreign Promoters Persons acting in concert Sub .00 Financial performance The financial performance of the company (Rs.Total Grand Total No.264 4.05 215. 2005) on BSE was Rs. 1. 1. in crores) is given below: Equity Share capital Reserves and surplus (excluding revaluation Reserves) Sales (including Excise duty) PAT Dividend (%) EPS (Rs.658 -2.50 250.68 754. Nil complaints were received and pending from Equity shareholders during the period December.) 200. Financial Institutions. a.30 244.00 305.874.457.979. d. 2005 is as follows: Category Promoters Holding Promoters: .43 102.98 335.00 192.Indian Promoters .05 -7.381 38.60 249. Insurance Companies (Central/State Govt.) Stock Market Data Month October 04 November 04 December 04 January 05 February 05 March 05 NSE High (Rs.05 180. Foreign Institutional Investors Sub .) 205.631.95 236. 4.50 and the market capitalization was Rs. 3. a.) 188.55 9.24 25% 14. The company has engaged the services of a Registrar & Transfer Agent to handle the grievances of the investors.50 235. 2005. b.890.659.50 -55.65 crores.90 2001-02 46. depending on the type of complaint.37 0.558 3.00 2003-04 38.05 285.

82) 10.37 (10) Gagan Trading Company Limited . c.Total Others Private Corporate Bodies Indian Public NRIs / QCBs Any other (please specify) Sub . Institution. Swami and Mr. in lacs) is given below: Particulars Share capital (including preference share capital) Reserves and surplus (excluding revaluation reserves) Sales PAT Dividend (%) EPS (Rs. Financial performance The financial performance of the company (Rs. a.00 Nil 30. R. 4.59) 10.) BV (Rs. Gupta.04% 0.37 FY-02-03 224 0. P. Institutions/Non. b. R.75% 99. The Board of directors of the company comprises Mr.) FY-03-04 224 0. Shareholding Pattern The shareholding pattern is as follows: CATEGORY PROMOTERS HOLDING Directors Persons acting in concert Sub . L. 41300 198600 239900 240000 17.37 FY-01-02 224 0. Financial Institutions. 1983 and is in the business of investment and trading in shares. 1983 on Calcutta Stock Exchange Association Limited and no trading has taken placed during last 6 months.84 10. Jain.33 - . R.Total B.Total GRAND TOTAL No. 3.96% 100.Information Memorandum (9) Colorado Trading Company Limited This Company was incorporated on January 17.21% 82. d.00% Shares of the Company listed in April. NON PROMOTER’S HOLDING Institutional Investors Mutual Funds and UTI Banks. 1. 2. Insurance Companies (Central/State Govt.41) Nil (0. Mr. b.Govt. a.56) Nil (84.89 Nil 74. c.89 Nil (1.04% - A. of shares 100 100 % of shareholding 0. The Company has not issued any rights or a public shares in last five years.89 Nil (203. Foreign Institutional Investors Sub . M.

Beaufield Holdings Ltd. Beaufield Holdings Ltd. Jayaraman. Mendeza Holding Ltd.000 % of shareholding 39.25 .75 *(0. P. 2002.65) (8.91) FY 03 1715.000 20.) FY 04 1715.83 11.269.000 20.90) 533. K. The company was reconverted into a private limited company on April 5.00 * EPS has been arrived at after considering Dividend on Redeemable Cumulative Preference Shares.42) (12.77 10.369.877.Information Memorandum The Company was incorporated on January 31.99 (193. trading in securities and providing management consultancy services. Heston Securities Ltd. Shareholders Sun Investments Pvt. (11) Vrindavan Services Private Limited (VSPL) Vrindavan Services Private Limited was incorporated on April 8. Mr.52) FY 02 1715.30.000 3. Pentel Holdings Ltd. Mr.) BV (Rs. Bavneesh Gulati. Templar Investments Ltd.60.97) *(2.000 1.83 1.09 (2168.30.880.71 13. of Shares 7. Kole and Mr.100 2.38) (9. Board of directors of the company comprises Mr.68 7. Bavneesh Gulati.90 (3344.83 11.83 11. Kole and Mr. It is into the business of investments.06 7.34 - .564.250 2. 1997.40) No.06 6. 1982 as a Private Limited Company and converted into a public limited company “Vrindavan Services Ltd. Ltd. R. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Sun Investments Pvt.45 100.000 20.R. P.30. Ltd.900 % of shareholding 21.N. in lacs) is given below: Particulars Equity Share Capital Reserve and Surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.30.79 102. 1983 as a public limited company.000 5. The shares of the Company are listed on the Calcutta & Uttar Pradesh Stock Exchanges.S.71.564. Mr.90 (3241.000 2. of shares 67.83 11.000 20.64) (8.49. No.R. Others Total Financial performance The financial performance of the company (Rs.53 6.68) 54.450 2.59. Estrella Investments Ltd. Rajeev Pai.30.90 (3150. Heston Securities Ltd. Gagan Trading Co.” with effect from March 29. trading in securities and providing management consultancy services. Board of directors of the company comprises Mr. Sriram.000. Sarmento Holdings Ltd. Ltd. The Company has not come out with any Rights or Public issue in the last five years.40 11. Nacho Investments Ltd.65) 471.600 2.000 20. The company is carrying on the business of investments.

Kamshet Investments Pvt.299.39 FY 03 3518.96 1. P.13 50.89 5.513.01 58. V.09) 15. No.000 625. 1990.119.94 0.69 17.711.18 .00 100.19 4.40 249.700 4. Ltd.24 2061.000 340. Ltd.00 219.71 6.” with effect from October 15.207. Mr. Its board of directors comprises Mrs.35 - .33 Sun Investments Private Limited was incorporated on June 2.86 FY 02 1644.300 5. Estrela Investment Co.Information Memorandum Templar Investments Ltd.300 11. Aras Overseas Pvt.27 4. Ltd.17) (0.39 0.80) (0.000 710. Deepak Bhat and Mr.000 340. 1981 as a private limited company and converted into a public limited company “Sun Investments Ltd. Ltd.000 65. Jargo Investments Ltd. Pentel Holdings Ltd.001 401 36. Ltd.000 2.94 0. The company was reconverted into a private limited Company on February 18.25 6.052. Jindal Holdings Ltd.66 5. Pentel Holdings Ltd.402 6. trading in securities and providing management consultancy services.72 0.119. of Shares 29.40 355.94 0. Estrela Investment Co. Jindal Total Financial performance 2.900 3. Baltimore Trading Pvt.760.25 6.100 4. 2003. D. Ltd. Ltd.) BV (Rs. Nacho Investments Ltd.) (12) Sun Investments Private Limited FY 04 3629. Ltd Mendeza Holding Ltd. Ashok Goel.000 340.269. Ltd.32 141.18 0. Jindal Coated Steel Pvt.00 0. Naman Enterprises Pvt. Vavasa Investments Ltd.000 340.74) 11. J.73 5.50 (121.55 7.400 1.269.989.400 % of shareholding 40. Wachovia Investments Pvt. Sangita Jindal (Managing Director). Garg. Jindal Coated Steel Pvt.269. Ltd.800 2. Mr.300 2.000 140. in lacs) is given below: Particulars Equity Share Capital Share Application Money Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.98 0.51 (31.800 3.00 The financial performance of the company (Rs. Sarmento Holdings Ltd.94 2681. Musuko Trading Pvt. Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Jindal South West Holdings Limited Jargo Investments Ltd.500 64. The company is in the business of investing.18 0.94 0. Mr.25 1.

999 300.800 3. The Company’s Board of Directors comprises of Mr.05 0. Ltd.000 5.46 12.22 0. Tripti Jindal Ms.36 - . Savitri Devi Jindal Ms. 1993 as a private limited company.01 0.34 0.900 60.13 1828.04 0. Tanvi Jindal Jindal Strips Ltd. Ms.700 23.200 2.500 10.033.500 13.033.04) 26.01 0.100 39.02 0. Everplus Securities Pvt. No.000 14.347.001 898.27 11796. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation Reserve) Income PAT Dividend EPS (Rs.84 2. Kole and Mr. Vavasa Investments Ltd. Deepika Jindal Colorado Trading Co. Abhuday Jindal Ms.Information Memorandum Beaufield Holdings Ltd. P.28 12649. R.75 4395.000 % of shareholding 50.58) (0.76 4051. Ratan K . Jindal Mr.201. Urvi Jindal Ms. Vrindavan Services Pvt.000 8.000 46.02 0.02 0.00 The financial performance of the company (Rs.55 FY 02 5827.28 2. Om Prakash Jindal Ms.08 0.492.Jindal O.01 0.84 0.00 100. Naveen K. Jindal Ms.R.800 6. Sangita Jindal Mr.000 6. Puran Chand Sharma Total Financial performance 2.61 (28. Jindal (HUF) Mr.01 0. it is in the business of Investments and trading in securities.20 161. Mr. P. of Shares 1.30 10532.500 17. P .01 0.600 2.50 . Shareholding Pattern The shareholding pattern is as follows: Shareholder Gagan Trading Company Ltd.03 0.) BV (Rs. Tarini Jindal Ms.300 10. Deepak Bhat.03 27. Ltd.07 Incorporated on August 11. Mr.) (13) Meredith Traders Private Limited FY 04 7149. Ltd.89 733.000 100 71.04 37. Ltd.000 239.28 28.01 0.59 1.100 10.400 13.01 0.02 0. Mr. Templar Investments Ltd.07 0.68 FY 03 7119. Heston Securities Ltd. Sminu Jindal Vrindavan Services Pvt.300 30.000 51.06 0.

Sunil Damani Total Financial Performance The financial performance of the company (Rs.89) (14) Reynold Traders Private Limited The Company was incorporated on September 1.00 (4562. It carries activities of investments and dealing in shares and securities. Silky Investments Pvt.52 (90. Damani Mr. Mr.07 21.60 (330. Shareholding Pattern The shareholding pattern is as follows: Shareholder Mrs. 100 each) Reserve and surplus Excluding revaluation reserve Income PAT Dividend EPS Rs BV Rs 2003-04 2400. The company’s board of directors comprises Mr.12 (76.53 (9. Total Financial performance 1 1 2. Ltd. 1997.99) 8. of Shares 1 1 2 % of shareholding 50. Mr.01 12.40) 115. P.45) 16.31) 2001-02 2400. R.19) (90.08) 19. Pradip Gaad.00 100. Prithvi Raj Jindal.82 1801.100 each) Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs. .00 The financial performance of the company (Rs.58 2729130 (33524543) FY 03 0.62) (3.) FY 04 0.002 0. 1993. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs. Kole.00 (15) Templar Investments Limited Templar Investments Limited was incorporated on June 30.13 2002-03 2400. Board of directors comprises Mr.00 0.37 - .002 (715.00 (1889. Sangeeta S. It carries out activities of holding and letting out of property.) BV (Rs.39) 14.002 (725. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.00 (4574.002 (670. R.Information Memorandum Gauri Investments Pvt. Dev Joory. Jayaraman and Mr.60 0.400.11) 3030. Ltd. investments in capital markets and providing consultancy services.00 100.00 50.59 75.61) (16530489) (35772825) No.86 54. Couldip Basanta Lala and Mr.62) (481073) (36253673) FY 02 0.

12.12.400 100 5.800 200 7.00 (16) Heston Securities Limited Heston Securities Limited was incorporated on June 30. Prithvi Raj Jindal.00 .000 1.000 % of shareholding 70. Mr. Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Prithvi Raj Jindal Pradip Gaad International Trustees Limited Total Financial Performance The financial performance of the company (in US Dollars) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS BV 31.01 7000 7240903 3016130 2672687 -382 1035 No. of Ordinary Shares 3.00 3.00 26.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 31.01 5000 7296767 3015505 2670935 -534 1450 No. of Ordinary Shares 5.00 28. 1997. Mr. Board of directors comprises Mr.500 1.00 100. Pradip Gaad.02 7000 10831910 3784920 3591007 -513 1548 31.12. Dev Joory.03 5000 11439760 572657 561127 -112 2289 31.000 % of shareholding 71.12.02 5000 10878633 3784318 3631866 -726 2177 31.00 100.03 7000 11396160 575602 564250 -81 1629 31.12.12.38 - .00 2. It carries activities of investments and dealing in shares and securities. Couldip Basanta Lala and Mr.

10 100. Board of directors comprises Mr.00 100. Andry Tryphonos and Mr. 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. Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Prithvi Raj Jindal Other – Nominee Total Financial Performance The financial performance of the company (in US Dollars) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income 31.00 1.12.00 34. Pradip Gaad. Tasoula Georgiou.12.00 . Mr. Mr. Prithvi Raj Jindal.12. It carries on activities of investments and dealing in shares and securities.90 0.12. Prithvi Raj Jindal.Information Memorandum (17) Vavasa Investments Limited Vavasa Investments Limited was incorporated on June 18. 1996.02 1942 (533740) 63350 (148877) --31. of Ordinary Shares 999 1 1.01 1942 (3063112) 39504 No. Board of directors comprises Mr. 1997.03 1942 (3136527) 137015 31.02 1942 (3266074) 63406 31.000 % of shareholding 65. It carries on activities of investments and dealing in shares and securities. Mr.12. of Ordinary Shares 650 340 10 1.39 - .000 % of shareholding 99. Mr. Tasoula Georgiou.01 1942 (384863) 153638 45256 -45 -No.00 (18) Jargo Investments Limited Jargo Investments Limited was incorporated on July 29. Pradip Gaad.12. Andry Tryphonos and Mr.

Dev Joory. Mr.12.000 1. 1997.00 44. 1997. Pradip Gaad. The company’s board of directors comprises Mr.01 1942 (435239) 172323 (10648) ---No. Board of directors comprises Mr.00 .02 1942 (551289) 61227 (116050) ---31.Information Memorandum PAT/(Loss) Dividend EPS BV 129548 -130 -- (202962) ---- (497541) ---- (19) Sarmento Holdings Limited Sarmento Holdings Limited was incorporated on June 18.00 Beaufield Holdings Limited was incorporated on June 30. Pradip Gaad.000 % of shareholding 60. Prithvi Raj Jindal. Mr. of Ordinary Shares 3. Mr.00 100. 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 38.000 % of shareholding 55.50 100. It carries activities of investments and dealing in shares and securities.12. Tasoula Georgiou.900 100 5.00 2. 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.40 - .12. It carries on activities of investments and dealing in shares and securities. Prithvi Raj Jindal. Mr. of Ordinary Shares 550 445 5 1. Andry Tryphonos and Mr.03 1942 (424786) 133418 126504 -126 -31.50 0. Couldip Basanta Lala and Mr.

of Ordinary Shares 4.000 % of shareholding 75.02 5000 10791447 3786975 3622069 -724 2159 31.12. Andry Tryphonos.400 100 6. Tasoula Georgiou. Prithvi Raj Jindal.00 100.02 6000 10751260 3783357 3590681 -598 1793 31. Prithvi Raj Jindal.12.00 33.03 6000 11309499 569872 558239 -93 1886 31. Pradip Gaad and Mr.12. Dev Joory. Board of directors comprises Mr. of Ordinary Shares 660 330 10 1. It carries on activities of investments and dealing in shares and securities.00 2. Mr. Mr.12.Information Memorandum Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS BV (21) Pentel Holding Limited 31. Mr. Couldip Basanta Lala and Mr.12.00 23.00 100. Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Prithvi Raj Jindal Pradip Gaad International Trustees Limited Total Financial Performance The financial performance of the company (in US Dollars) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS BV (22) Mendeza Holdings Limited 31.01 5000 7169378 2997354 2615193 -523 1435 Pentel Holding Limited was incorporated on June 30.00 Mendeza Holdings Limited was incorporated on June 18. 1997. Pradip Gaad. Mr.41 - .00 1. Board of directors comprises Mr.00 . 1997. Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Prithvi Raj Jindal Pradip Gaad Other – Nominee Total No.500 1.03 5000 11464486 685951 673039 -135 2294 31. It carries activities of investments and dealing in shares and securities.000 % of shareholding 66.12.01 6000 7160578 3014513 2569236 -428 1194 No.

1997. Pradip Gaad and Mr. of Ordinary Shares 4.12. Mr. Shareholding Pattern The shareholding pattern is as follows: .00 31.12.00 100. Board of directors comprises Mr.12.000 1.000 % of shareholding 67. Tasoula Georgiou. Mr. It carries activities of investments and dealing in shares and securities. Prithvi Raj Jindal.03 1942 (537985) 144577 132778 -133 -31. Dev Joory.12.42 - . Prithvi Raj Jindal.00 2.00 (24) Nacho Investments Limited Nacho Investments Limited was incorporated on April 18.880 120 6. Mr. Couldip Basanta Lala and Mr. It carries on activities of investments and dealing in shares and securities.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 31.01 6000 7163300 3002215 2547719 -425 1195 No. Andry Tryphonos.02 1942 (670762) 63359 (126928) ---31. 1997.12.03 6000 11381086 600079 586976 -97 1898 31.12. Pradip Gaad. 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 31.01 1942 (543834) 184478 (13371) ---- (23) Estrela Investment Company Limited Estrela Investment Company Limited was incorporated on June 30.02 6000 10794110 3795749 3630810 -605 1800 31. The company’s board of directors comprises Mr. Mr.

which was converted into a public limited company ‘Orbit Strips Ltd. Harsh Vardhan Lodha. the name of the company was changed to Jindal Steel & Power Ltd. were transferred to and vested in the company from April 2.000 % of shareholding 55. It is also engaged in generation of power.12. 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 28.02 1942 (577071) 63395 (104145) ---31. 1998. 1979 as Orbit Strips Pvt. Singh Pasrich. Ratan Jindal. Mr. Mr. Raigarh and Raipur divisions of Jindal Strips Ltd. 1998. The board of directors of the company comprises Mr. Subsequently. Mr. The company has captive iron ore and coal mines at Tensa in Orissa and Mand area in Raigarh in Chattisgarh respectively. Anand Goel.03.’ on May 27. Vikrant Gujral.Information Memorandum Name of Shareholder Prithvi Raj Jindal Pradip Gaad Other . The company’s unit at Raipur is engaged in machining. of Ordinary Shares 550 440 10 1.79 . Gupta. L. A 1 Category Promoter's Holding Promoters . on June 12. which is engaged in production of Sponge Iron. Ferro Chrome and Steel Products like slabs. No.Nominee Total Financial Performance No. Maroo and Mr.12. 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. Subir Bisht. 1998.00 44.03 1942 (446781) 136498 130292 -130 -31.00 1. Amir Z. M. Mr. Shareholding Pattern The shareholding pattern as on 31. Mr. The company has a unit in Raigarh. Ltd.. parallel flanges and billets.43 - . Mr.Indian Promoters i) Corporate Bodies + Resident Indian No.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. blooms. Sushil K. Mr. Rajendra Singh.00 100.2005 is as follows: Sr. Naveen Jindal.12. Mr.

66 0.00 Financial performance The financial performance of the company (Rs.61 14.22 107.40 and the market capitalization was Rs.90 1030. .50 821.00 1000.22 277 2002-03 14.00 1262.35 824.40 839.46 200% 100.) 795.00 2003-04 15.00 The market price of shares of the company (as on March 31.33 18.90 452.43 c 4 a b c d 3795642 5592768 1420514 4546914 510135 45044 6522607 30792268 12. Insurance Companies (Central / State Govt Institutions/ Non-Government Institutions) FIIs Sub-Total Others Private Corporate Bodies Indian Public NRIs/OCBs Any other Sub-Total GRAND TOTAL 2420800 NIL NIL 18676893 7. 05 NSE High (Rs.00 1026.) 663.Information Memorandum 2 B 3 a b ii) OCBs+Non Resident Indian .63 558.) 796.86 60.77 1.00 BSE High (Rs.00 Low (Rs.00 628. 1044.Foreign Promoters Person acting in concern Sub-Total Non-Promoters Holding Institutional Investors Mutual Funds and UTI Banks.80 1561. 05 March.15 21.00 1104. in crores) is given below: Particulars Equity Share capital Reserves and surplus (excluding revaluation reserves) Sales (including Excise duty) PAT Dividend (%) EPS (Rs.16 4.) 623.00 964.05 915.35 964.00 195.00 1000.55 70% 38.00 692.00 Low (Rs.00 2001-02 12.00 920.) Stock Market Data Month October 04 November 04 December 04 January 05 February.18 1.08 125% 52.95 834. Financial Institutions.00 833.) BV (Rs.00 851.49 305.65 1664578 132548 5.33 654.44 - .18 100.79 145.00 1103.41 0. 2005) on BSE was Rs.00 860.109.00 180. 3215 crores.00 1259.

Promoter’s holding 1 Promoters: Indian Promoters: I Colorado Trading Co.780 iv Everplus Securities & Finance Ltd 1. L.705 x Hexa Securities & Finance Co.999.296.835 v Mansarover Investments Ltd. The name of the company was changed to Jindal Int.080 ix Vrindavan Services P. Mr. 1.295 iii Sun Investments Ltd 9.K. 2. depending on the type of complaint. Ltd. vide Punjab & Haryana High Court order dated May 31. Garg and Mr. 2003. Ltd 5. N. The board of directors of the company comprises Smt.46 1. hot rolled and cold rolled coils. Savitri Devi Jindal (Chairperson) Mr. plates and sheets. A.50 2. Ltd. Mathur. Under the scheme of Arrangement and Demerger among Jindal Strips Limited and Jindal Stainless Limited.710 xiv Others 5. blooms.31 0.210 vi Nalwa Investments Ltd. powers and liabilities in respect to stainless steel undertaking stood transferred to and vested in Jindal Stainless Limited w.f.797. 3.946. flat bars. Complaints Received: 50./Jindal Saw Ltd.290 % of shareholding 1.19 4.com Limited on January 25. The company was originally incorporated on September 29.e. 2005 is as follows: Sr. Resolved/Replied: 50 and pending: 1 (2) Jindal Stainless Limited The company was promoted by Mr. R. Shareholding Pattern The shareholding pattern as on March 31. 2. The average time taken by the company for redressal of complaints is up to 21 days.443.945 viii Manjula Finances Ltd 1. 2001 and further to Jindal Stainless Limited on January 27.707. 1. the stainless steel undertaking from Jindal Strips Ltd with all the property.45 - .078.454. Mr. 2. C.Ltd 4.11 5.735. asset. 2003.845 ii Gagan Trading Co. Ser.89 2. Naveen Jindal.05 3.92 . 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.22 2. Ratan Jindal.23 8.615. April 1.92 4.55 1. 2002 (the appointed date).410.012.800 xi Jindal Equipment Leas & Con.315.157. Mr. Ratan Jindal.375 xiii OCBs 8.555 xii Saw Pipes Ltd.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.45 1.38 8. of shares held No.G.110 vii Stainless Investments Ltd. Singhal. Category No. 1980 as Jindal Ceramics Limited. Mr. rights. Dr. Ltd 2. Particulars of investor complaints during the period January to March 2005 are as follows: Opening balance: 1. Rajinder Parkash. Suman Jyoti Khaitan.

891 56.Government Institutions) i.022.30 58.46 - .697. Indiabulls Financial Services Ltd Ii Others (Companies) Indian Public NRIs/ NRI Companies/OCBs i.998.189.) BV (Rs.932.57 2002-03 13.272 22. 4 a.498 520.15 60% 9.070 0.93 0.10 1.24 9.437 16. ii FID Fund Mauritius Ltd.499 109.00 d.727.844 2.524 1. -Foreign Promoters Persons acting in concert Sub-total (A) Non-Promoters Holding Institutional Investors Mutual Funds and UTI Banks. Financial Institutions.00 High (Rs.19 4.) 93.220.80 100.269 4.24 2605. Insurance Companies (Central/ State Govt.909.47 15.19 100% 17.00 36.02 0. Financial performance The financial performance of the company (Rs. Sub-total (3) Others: Private Corporate Bodies i. i.20 2003-04 19. Latin American Investment Bank Bahamas Ltd. American Express Bank Ltd ii Life Insurance Corporation of India iii Others FIIs.223.0001) - .909.977.01 48.656 9. b. c.10 1.) 94.38 2. b.345 0. Institutions / Non.08 55.0007 (0.55 2.54 c.810 52.41 51.98 530.48 7.) 77.30 BSE Low (Rs.) Stock Market Data Month October 04 NSE High (Rs.58 164. ii Others Any other (pending allotment) Sub-total (4) Sub-total (B) Grand-total (A+B) 3.500 7.Information Memorandum 2 B.93 90.20 269.83 391. 3 a. Others (FIIs) 5.608 2.80 1989.204.) 76.423 1.883.50 Low (Rs.13 2001-02 0.760 2.115 975 40.997.17 20. in crores) is given below: Particulars Equity Share capital Reserves and surplus (excluding revaluation reserves) Sales (including Excise duty) PAT Dividend (%) EPS (Rs.

P. Ltd.F O.86 2.F P. depending on the type of complaint. Investment and finance related consultancy services.000 500. Baltimore Trading P. 2005) on BSE was Rs.000 10.000 1.000 1. is NBFC (not accepting public deposit). Musuko Trading P.318.32 2.00 80.Information Memorandum November 04 December 04 January 05 February 05 March 05 89. Ltd. The average time taken by the company for redressal of complaints varies from 7 to 25 days.16 13.04 0.90 111.000 3.000 10.520.81 5. Kamshet Investment P. Manjula Finances Ltd.17 11. Jindal Holdings Ltd.000 1.04 0.000 22.020 % of shareholding 0.70 80.98.000 10. Jindal H.04 0.70 91. Particulars of investor complaints during the period April 2004 to March 2005 are as follows: Complaints Received: 490. The company has engaged the services of a Registrar & Transfer Agent to handle the grievances of the investors.675.000 1.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. Total Financial performance No. Jindal & Sons H.50 91.000 1.000 590.40 96.95 106. Sharma and Mr.318.U. Vrindavan Services Pvt.318.000 600. The Company is engaged in the business of finance.000 10 10 2. Mr. Jindal & Sons H.660. of Shares 10.00 78.00 11.U. Board of Directors includes Mr.000 1.318. 1079.33 2.P.55 110.65 5.75 90. Sunil Mittal.010.40 96.90 78.20 88.U. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Naveen Jindal H. Gagan Trading Co Ltd.F Master Parth Jindal R.170.00 87.000 1.21 7.04 0. Ltd. Ltd.30 8.81 5.05 80.11 5. Ashok Goel.10 81.318.400.60 6. 1997. 1995 and became Public Company with effect from March 31.81 5.95 106.15 87.K.015.00 The market price of shares of the company (as on March 31.47 - .86 crores.00 . Aras Overseas P. Resolved/Replied: 478 and Pending: 12.75 91.04 0.U.00 0.570. Ltd. Wachovia Investment P.000 2. (3) Manjula Finances Limited The Company was incorporated as Private Limited on February 1. Brahmputra Cap & Fin Ltd.81 100.R. D.25 and the market capitalization was Rs.000 2. Ltd.000 1.000 10.81 5.

20 7.Information Memorandum The financial performance of the company is given below Particulars Share capital 2.25 2.445.17 FY01-02 226. Aras Overseas P.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. Ltd.14 2.200 NIL 6. 1997.73 11. Vivek Goel and Mr. 10/-each Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs. Investment and finance related consultancy services. Parmod Garg.000 1.858.750. D.590.000 10. Nalwa Investments Ltd.500.95 2.69 6.25 100 .48 - .871. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder P.95 6. Jindal O.000 10.750. Ltd. Jindal Naveen Jindal H.26.500.74 8. Ltd. Vrindavan Services Pvt.00 18.) BV (Rs.40 2. The Board of Directors comprising of Mr.R.000 21.000 2.71 (4) Renuka Financial Services Limited The Company was incorporated as Private Limited on February 1. Gagan Trading Co Ltd Jindal Holding Ltd.6 (17.) FY03-04 226.000 1. Ltd.75.55) NIL (0.000 1.970.00 . 1995 and became Public Limited with effect from March 31.200 NIL 40. Musuko Trading P.78) 2.25 2.220.000.05 0.02 7.05 0. of Shares 10.58 12.020.000 486.802.500. Total No.53 6.020 Equity Shares of Rs.05 0. Sharma.25 2.670. Kamshet Investment P.200 NIL 26.U.355.25 2.000 486.533.000 10 10 4.19) NIL (0.000 1.000 1.020 % of shareholding 0.4 8.000 10.2 (12.05 0.000 590.750. P.000 486.827.660.56 FY02-03 226.34 NIL 0.05 0. Baltimore Trading P.P. Wachovia Investment P.726.55) 2.000 10.770.620. Ltd.00 0.000 486. Mr. Ltd.000 486.000 1.000 2. The Company is NBFC (not accepting public deposit) and engaged in the business of finance.300.509.

000 10 10 3. of Shares 10.00 14.R.000 500.U. Jindal H.00.588.05 0.94 8.32 14.90 7.000 3.000.750.900. 10/-each 1.00 0.000 1.000 4.05 0.05 0.000.025.670.170.4 NIL NIL 18754323 (23.000 3.17 10.55) NIL (1.500.000 1.27 2.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.015. Ltd. Mr.38 5. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Deepika Jindal P. 1994 as Private Limited and later on became public Company with effect from March 31. Sanjay Agarwal.) FY03-04 215.754. subscribed & Paid-up) 21.Information Memorandum Financial performance The financial performance of the company is given below Particulars Share capital (Issued. Deepak Goel.40 100.02 2. The Company is NBFC (not accepting public deposit) and engaged in the business of finance.020 Equity Shares of Rs.000 10.900. 1997.00 .12 NIL 5.200 10.000 NIL 98977652 605.36 (5) Ever Plus Securities & Finance Limited The Company was incorporated on November 24. 100/-each Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs.05 0.27 21.U.924.625.000 NIL 161907596 102.000 1.000.F Naveen Jindal H.49 - .10) 2.900.000 10.590.13 7.200 FY02-03 215. Vivek Goel and Mr.000 21.660.000 10. Total Financial performance No.05 0.020 % of shareholding 0.000.200 FY01-02 215.950.000 1.38 14.56 7.000 Preference Shares of Rs.67 NIL 0.) BV (Rs. Investment and finance related consultancy services.000 10.34 3.000 710. The Board of Directors comprising of Mr.

Co.250.439 108. Works (P) Ltd and later on the name was changed to Nalwa Engg.966) NIL (2. on October 25. of Shares 100 100 % of shareholding 0.026 (42.31% 99. R. The Board of Directors comprising of Mr.57% 34.200 NIL 36.) FY03-04 210.250. M. 1983. a. 1.) BV (Rs. 4. R.I. Gupta. 1984. Institution.643.01) (1.187.6 FY02-03 210. Shareholding Pattern The shareholding pattern is as follows: Category A.00) (1. c. since December 21.Total Others Private Corporate Bodies Indian Public NRIs/QCBs Any other (please specify) Sub .Total GRAND TOTAL No. b.323.96% 100. Financial Institutions. 1957 as Sree Iron Foundry & Engg. Jain.200 NIL 148.Govt.65 NIL 5.04% 0.00% Shares of the Company got listed in September. Promoters Holding Directors : Persons acting in concert Sub .82) NIL (0. jobs under S.250. 2. Mr. Swami and Mr. Ltd.04% - c. Insurance Companies (Central/State Govt. b.606.50 - . a. P.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.577.S.08% 5.377.56) (6) Nalwa Engineering Company Limited The Company was incorporated on December 3. Institutions/Non.629.16 3. R. The company is engaged in the Business of Cast Iron Foundry and changed the activities in heavy & Light Engg.Total NON PROMOTER’S HOLDING Institutional Investors Mutual Funds and UTI Banks. 3.200 NIL 12. 1984 on The Calcutta Stock Exchange Association Limited and no trading has taken placed during last 6 months. 193342 108810 16967 319119 319219 60.56) FY01-02 210. d. L. Financial performance The financial performance of the company is given below . Foreign Institutional Investors Sub .270 (80. B.

38 37. Vivek Goel and Mr.722. Kamseth Investment P.000 10 10 1. Total No.61) Nil (10.20 15.000 500.47 (54.93 3.27 (Rs.000 2.220 % of shareholding 0. Baltimore Trading P.27 FY-02-03 31. Deepak Goel.15 2.670.85 11.83 Nil 11.05 28.67 6.000 496. Aras Overseas P. Ltd. 1995 and became Public Limited with effect from March 31. Ltd. Ltd. Ltd.92 13.000 496.000 2.56 (32.03 0.92 4.65 2. 1997.000 496. The Board of Directors comprises Mr. Musuko Trading P.62 0.000 18. of Shares 10.F Savitri Devi Jindal Om Parkash Jindal P.17) 11.05 0. Ltd. Abhinandan Investments Ltd Nalwa Investments Ltd Bhramputra Cap.05 0.000 1.05 33.55 12.33 8.03 0. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Naveen Jindal H.00 8.000 810.65 2.35 2. Wachovia Investment P.000 10.000 5. In lacs) FY-01-02 31. 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.25 7.Information Memorandum Particulars Share capital Reserves and surplus (excluding revaluation reserves) Sales (Including Other Income) PAT Dividend (%) EPS (Rs. 2002.65 100. Ltd.27 3.000 5.500. Mr.000 10.) FY-03-04 31.51 - .600.05 0.855.00 0.05 0.000 1.000 496.92 4.200 50. On December 5.25 4.000 590.) BV (Rs.22) 11.65 2. the Company got registered with Reserve Bank of India as Non Banking Financial Company (not accepting public deposit).27 (7) Goswamis Credits & Investments Limited The Company was incorporated as Private Limited on January 13.00 .420.65 2.427.92 4.000 496.000 10.R. Sunil Mittal.U.000 1.S.82) Nil (17. & Finance Ltd M\s Silver smith Gagan Trading Co.05 53.000 2. Jindal Master Parth Jindal Master Abhuday Jindal Manju Bansal Renu .000 600. Ltd.170.

It was incorporated for carrying on the business of continuous cast. Sminu Jindal.103.222.904.19 1. As the paid-up capital of the Company is only Rs.73) NIL (0.79 --46. Financial Institutions.98 100. R.362.02 --- --- c.07 53.) BV (Rs.Total NON PROMOTER’S HOLDING Institutional Investors Mutual Funds and UTI Banks. 1984.962.200 NIL 2. PROMOTERS HOLDING 1.Total Others Private Corporate Bodies Indian Public NRIs / QCBs Any other (please specify) Sub . Sandip Sharma and Mr.95 -46.350 6. Goel. P.430 (7. Institution. Insurance Companies (Central/State Govt.e. New Delhi w. of shares % of shareholding 14. b.Foreign Promoters 2. Foreign Institutional Investors Sub .38) 0. June 28. a.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. Shareholding Pattern The shareholding pattern is as follows: CATEGORY A.000 --45. 21 lakhs.Total GRAND TOTAL No. The Board of Directors comprises Mr.650 2. 4.08 (excluding Jindal Seamless Tubes Limited The Company was incorporated on April 12.789.11. --94. 1956 and since then there is no manufacturing activity in the Company.00 The Company’s Equity Shares are listed on The Delhi Stock Exchange Association Ltd. 3.600 -96.222.05) NIL (0.134. b. 1992. the manufacturing activities were disposed off under the provisions of Section 293(1)(a) of the Companies Act.Indian Promoters . The name of the Company was later changed to Jindal Seamless Tubes Ltd. Persons acting in concert B.200 NIL 3.7 (16.57) NIL (0.3 (14. Mr.e. Hot and Cold Rolling Mills.) (8) FY03-04 187.871. K.377.79) 1.626. there has not been any trading in the shares for the last several years.10. d.005. Institutions/NonGovt. Ms.750 --98. 1979 as Nalwa Steels Ltd. Promoters: .900 3.30 FY01-02 187.f. D. c.750 1.397. Sub .92 FY02-03 187. w.200 NIL 11.. Jindal.85) 2. a. In the year 1996.52 - .222. June 5.f. .

405. S. of Shares 30 60 2. Ltd Gagan Trading Co.41) Nil (175.005.08 (204. 1971 and became Public limited with effect from July 30. Ltd Nalwa Investments Ltd Swastik Udyog Ltd. Smt. O.400 24.60) Nil (7.229.98 9.25 9. 2005).98 9.79 (23. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Savitri Jindal O.050 % of shareholding 0.98 100. 1986.9) FY02-03 2.000 Nil 1. Saxena.37) The Company was incorporated as Private Limited on June 16.130 159.125.400 130.12 0.230 2.405.400 2./ Jindal Saw Ltd Naveen Jindal Abhinandan Investments Ltd Ratan Jindal Stainless Investments Ltd P.370 10 3.85 (258.98 21.) BV (Rs.78) (136.00 .400 2. 100/each) Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs.760 (1.56) Nil (10.971.85 (297. In lacs) FY01-02 21.51) (Rs.14) (125.80) 13.75 9.250 1.04 (15.885. Jindal (till March 31. The Company is engaged in the property business.53 - .85 0.000 Nil 1.04 13.51 4.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.922.40) NIL (46.64) 162.57 9. The Board of directors of the company comprises of Mr.15 NIL 16.78) (209.24) 5.85 (274.400 2.96) No.) (9) Rohit Tower Building Limited FY03-04 21.400 5.36 (197.98 9.405. Jindal Colorado Trading Co.Jindal Jindal Strips Ltd Total Financial performance The financial performance of the company is given below Particulars Share capital (Equity Shares of Rs.18 NIL 10.52) FY01-02 2.29) FY02-03 21. S. P.360.93) (118.) FY03-04 2. Savitri Devi Jindal and Mr.22 (384.R. P.) BV (Rs.100 2.000 Nil 1.

1995. 1994.98) 509. 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.17 45. Pvt.00 1.00 (3. 2002. Kosi Kalan.83 Nil 1.) – 281 403.17 1.) FY03-04 2. UPSIDC Indl.869. Mr.00 (2. 1994 as Hexa Securities & Finance Co. Ranjit Malik and Mr.58 Nil 0. Ltd.54 - .550.45 (9. Area.00023 100. D.26) 74.15 370. The Company was incorporated as Private Limited and became Public Limited with effect from May 4. In lacs) FY01-02 2.45 Nil 0.17 1. The Company is NBFC and holds investment in other Companies.023.200.22 1.550.17 1. of Shares 100 20. Shareholding Pattern The Company is 100% subsidiary of Jindal Saw Ltd. Nandgaon Road. R.800 500.81) 295. Aggarwal. having its registered office at A-1. It was converted into Public Limited Company on December 3.00 .000 520.25 (11.000 19.P.66 163.000 100 42. Rajesh Aggarwal. Sharma and Mr. Arvind Kiran Aggarwal.000 500.Information Memorandum (10) Hexa Securities & Finance Company Limited This Company was incorporated on November 23.488. 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. Parmod Garg. The Board of Directors of the Company comprises Mr.64 (11.Bansal Nominee of Jindal Strips Ltd Total No.76) FY02-03 2.859. K.00023 49.550. P.) BV (Rs.00 (2. Mr.000 500. 1934.000 % of shareholding 0.K.21) (Rs.08 0. Distt.16 63.86) (11) Brahmputra Capital And Financial Services Limited The Company was incorporated on June 14. The company is Non-Banking Financial Company (not accepted Public deposits) registered under Section 45-IA of the Reserve Bank of India Act. Mathura (U. The Board of directors of the company comprises Mr.590.000 500.

259 20.150.10 19.464 FY02-03 425.097.164 (1. The Board of directors of the company comprises Mr.900.43) Nil (0.900.) BV (Rs.000 Nil 15.90 100.) (12) surplus (excluding revaluation FY03-04 425.10/-each 1.each Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs.00.115.000 145.) FY03-04 100.500) 7%Redeemable Cumulative Preference Shares of Rs.350) Nil (0. Ltd. 1989 under the Companies Act.00 0.000 Nil 118.380 (156. 1956 under the name of Navin Sponge Iron Pvt.00 (13) Opellina Finance & Investment Pvt.000 Nil 36.55 - .900. 100/. R.09) Nil (109.000 Nil 188.00071) 9.717.000 83.0066) 9. On January 13.) BV (Rs.79) (102) FY01-02 1.296 (30.201. Ltd.399) Nil (0. Saraf and Mr. Investment and finance related consultancy services. Raj Kumar Nahata.990 10.4 FY01-02 425.316.000 % of shareholding 80.R Jindal Shallu Jindal Total Financial performance The financial performance of the company is given below Particulars Share capital 10.000 Equity Shares of Rs.468 Gagan Sponge Iron Private Limited The Company was incorporated on February 24.000. K.000 10 1.000 (831.Information Memorandum Financial performance The financial performance of the company is given below Particulars Share capital Reserves and reserves) Sales PAT Dividend (%) EPS (Rs.869 (279.0037) 9. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Naveen Jindal P.103.36 1918 FY02-03 100. 2004 the name of the said company was changed to Gagan Sponge Iron Private Ltd. of Shares 8.70 21.667. .00 No.946. The Company is engaged in the business of finance.000 Nil Nil Nil Nil Nil Nil 7.000 19.721.79 Nil 2059.450.

2) FY03-04 FY02-03 FY01-02 No.000 Equity Shares of Rs. V.98 16. Ltd. Ltd.000 19.598 21.000 950 900 2 704.92 28.000 119.00. 1994 as a private limited company and converted into a public limited company “Baltimore Trading Ltd.00 The Company was incorporated on December 9. TOTAL No.000 200.700 (7. The Company’s board of directors comprises Mr. Surendranath and Mr. Ltd. Anand Goel.5 100.144.10/-each 19. It is mainly in the business of investments and trading in securities. R.” with effect from March 23.Information Memorandum The Company was incorporated on March 20.693) Nil (114) (178) 1. Ltd.000 Nil 219.00 . Naman Enterprises Pvt.000 2.651. Ltd.00 100. Gati Securities Pvt. The Company was reconverted into a private limited company on July 26.000 10. of Shares 260.670.000 Nil Nil Nil (264. Wavelength Capital & Finance Pvt.26.each Reserves and surplus (excluding revaluation reserves) Sales PAT Dividend (%) EPS (Rs.348 Nil 2.) (14) Baltimore Trading Private Limited 100.600 1.14 0.110. Animation Finvest Pvt. 2002. Ltd.098) Nil (26.217.100) 0% Cumulative Redeemable Preference Shares of Rs. K. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Vrindavan Services Pvt.56 - .00 20. Deepak Bhat.16 0. Starlight Equifin Pvt.100 1.98 0.050 1. 1998.000 % of shareholding 80.646 (1. Investment and finance related consultancy services. 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 10.475 20.15 0.065 1892. of Shares 8. Jindal Equipment & Leasing Consultancy Services Ltd.000 192.) BV (Rs.13 0.000 74. Ltd.600 119. 1995 and is engaged in the business of finance. Jindal Holdings Ltd.40 16. Gagan Trading Co. Saraf and Mr.452. 100/. Ltd.4) (69.202 % of shareholding 36.00 100.41. The Board of directors of the company comprises Mr.13 0. Welworth Equifin Pvt.

Atul Sud Mr. R.603 100 Financial Information The financial performance of the company (Rs.04) (15.P.Information Memorandum Financial Information The financial performance of the company (Rs. of shares % of shareholding 260.100 each) Reserve and surplus Excluding revaluation reserve Income PAT Dividend EPS (Rs. 1994 as a private limited company and converted into a public limited company “Aras Overseas Ltd.24) (47. in lacs) is given below : Particulars Equity Share Capital (Shares of Rs. Rajeev Pai.87) 2001-02 806. 1998. Vijay Maniar Total No.300 18. Shareholding Pattern The shareholding pattern is as follows: Shareholder Vrindavan Services Pvt. The company was reconverted into a private limited company on July 26. Ltd. Mr.43 FY 03 704. Surendranath and Mr.83) 2002-03 806.31) (0. Gagan Trading Co. Mr.00 806.300 21.60 (934.25) (0.47 FY 02 704.29) (0.000 27.42) 20.88) (0.00 (0. Jindal Holdings Ltd. Kole and Mr.99) (385. P.89 173. 1994 as a private limited company and converted into a public limited company “Kamshet Investments Ltd.58) 0.04) 31. Ltd.60 (934. V.60 (933.79) (16) Aras Overseas Private Limited The company was incorporated on September 7.23 225.04) (15.33) (0. Dileep Bhatt.57 - .20 (482.39 2 0.20 (482. Garg.000 32. 100 each) Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS Rs BV Rs 2003-04 806. Mr. Apurva Jhalani.) BV (Rs. in lacs) is given below: Particulars Equity Share Capital (shares of Rs. The Board of directors comprises Mr.005 (0. The company is in the business of investments and trading in securities.20 (482.60) (0. 2002. 2002. V.03) 31.17) (0.00 1 0.30) (0.” with effect from March 23.” with effect from March 23.49 148. This company is in the business of investing and trading in securities.49 (15) Kamshet Investments Private Limited It was incorporated on November 16. Jindal Equipment & Leasing Consultancy Services Ltd. 1998.) FY 04 704. The company was reconverted into a private limited company on August 9.76) (15.02) 31. The Board of directors comprises Mr. .

63) (0.00 (17) Wachovia Investments Private Limited This company was incorporated on November 16. Ltd. Gati Securities Pvt.17 0.200 1.600 1.00 (351. No.840 1.012 % of shareholding 28.03 0. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.320 1.21 0. Ltd.07 27. It is mainly in the business of investments and trading in securities. of shares 260.58 No. Shareholding Pattern The shareholding pattern is as follows: Shareholder Gagan Trading Co. Welworth Equifin Pvt. Ltd.020 621. Ltd. Starlight Equifin Pvt.29 0.98 13.440 1.21 0.000 107.) FY 04 633.760 1. Jindal Equipment Leasing Consultancy Services Ltd.005 (0.080 1.19 0. Welworth Equifin Pvt.505 96.500 82. Deepak Bhat.79) (0. Ltd.00 .48 FY 02 633.07) 44.18 26. Ltd. Ltd. 1994 as a private limited company and converted into a public limited company “Wachovia Investments Ltd. Ltd.04) 44.) BV (Rs.500 1. Wavelength Capital & Finance Pvt. Ltd.58 - . Rajeev Pai.25 0. Animation Finvest Pvt.28 0. Wavelength Capital & Finance Pvt.00 (351. Kole and Mr. 2002. Ltd. Jindal Holdings Ltd.000 164.380 1.27) (0. Mr. Jindal Holdings Ltd. 1998. of shares 175. Ltd. 100 each) Reserve and surplus Excluding revaluation reserve Income PAT Dividend EPS (Rs. Its board of directors comprises Mr. The company was reconverted into a private limited company on August 9.360 2 633. Ltd. Ltd.Information Memorandum Shareholding Pattern The shareholding pattern is as follows: Shareholder Vrindavan Services Pvt.00 (350. Naman Enterprises Pvt.00 100. Vrindavan Services Pvt.002 77.23 0.000 102.44 FY 03 633.41 16. Gati Securities Pvt.65 16.48 0. Starlight Equifin Pvt.002 % of shareholding 41. Animation Finvest Pvt.41) 0. Naman Enterprises Pvt. R.45) (0.505 1. Jindal Equipment Leasing & Consultancy Services Ltd.46 12. Ltd. Ltd. Total Financial Performance The financial performance of the company (Rs. Ltd. P.000 175.22 0.” with effect from March 23. Gagan Trading Co.10) 44.16 100.68) (0.51 15.

40) (22. Krishne Gowda.99) 2002-03 621. 1994 as a private limited company and converted into a public limited company “Musuko Trading Ltd. Meredith Traders Pvt.51) (0. Dileep Bhatt.000 5.50 3.07) (0.) 2003-04 621. Ltd. Sandip Sharma Mr.000 1.32) 0.01 (758. P. Vrindavan Services Pvt.000 5. The company is mainly in the business of investments and trading in securities. Company’s board comprises Mr.020 % of shareholding 18.90 No. Ltd.22) 2001-02 621.04 0.64 FY 03 2.R. The company was reconverted into a private limited company on August 26.04 100.46) 0.100 each) Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs. 1998. 2002.01 (763.000 10 10 27.71) (20. K.84 (4.70 (2. M. . Kole and Mr.77) (22.12) (0. Ltd. Mr. Rajiv Khaitan Mrs.00 (19) Musuko Trading Private Limited (MTPL) MTPL was incorporated on November 14.01 (759.63) (0.000 1.51) (2.70 0. This company is in the business of real estate development. Shareholding Pattern The shareholding pattern is as follows: Shareholder Reynold Traders Pvt. Chari and Mr.50 18. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs. Sriram. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.50 18.14) (18) Argil Properties Private Limited (APPL) APPL was incorporated on July 6. Devender Singhal Mr. S.26) 9.70 0.) BV (Rs. P.000 5.N. P.) BV (Rs.70 (2.” with effect from March 23.000 5. Rishikesh Finlease & Investments Pvt.50 18.08) (22.79) 26. Gagan Trading Co. Rashmi Khaitan Financial performance The financial performance of the company (Rs.50 18.64 FY 02 2.70 3.77) (0.) FY 04 2. The board of directors comprises Mr.S.52) (9.Information Memorandum Financial Performance The financial performance of the company (Rs.59 - . of Shares 5.01 (0.02) (0. Ltd. 1994 as a private limited company. Ltd. Mr.51) (126.

05) 33. Mr.00 FY 02 0. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) FY 04 1.990 10 10 10. Sanjay Agarwal.N. Sriram and Mr.00 (0.09) FY 03 1. Ltd.620 1.39) (0.27 0.24 19. Ltd. Wavelength Capital & Finance Pvt.070 1.003 No.160 2. Vrindavan Services Pvt.19 0. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.00 . K. Animation Finvest Pvt.90 0.90 49. Starlight Equifin Pvt.95 1.45 (505. 1985.11) (0.60 - .100 each) Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.22 0.710 1. of shares 4.00) (0. Mr. Shareholding Pattern The shareholding pattern is as follows: Shareholder Sun Investments Pvt.000 150. Ltd. Ltd.990 4. I Qureshi.Information Memorandum Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Vrindavan Services Pvt.33 No.S.10 0. Sushil Buwalka Mr. Ltd.000 % of shareholding 49. It has made strategic investment in the shares of South West Port Limited.52 16.03 34.45 (513.79 29.16) 0.10 100.08 (0.28 0.452 % of shareholding 33. Its board of directors comprises Mr. Gati Securities Pvt. Welworth Equifin Pvt.21 0. of Shares 260.225 125. Ltd. Total Financial Performance The financial performance of the company (Rs.000 225.03 7.35 2002-03 769.36 2001-02 769. Naman Enterprises Pvt. Ltd.45 (505.) 2003-04 769. Shyamlal Agarwal Total Financial Performance The financial performance of the company (Rs. Ltd.06) 9. Gagan Trading Co. Ltd.440 2 769.00 (20) Nalwa Chrome Private Limited This Company was incorporated on September 2. Ltd. Jindal Equipment & Leasing Consultancy Services Ltd.) BV (Rs.01) 34.00 100.225 2. Jindal Holdings Ltd.27 0.

P. Dileep Bhatt.22) (719. Mr.94 49. The company has not yet commenced commercial activity.02 0. Jindal. Anilkumar Agarwal.61 - . The company’s board of directors comprises Mr.53) No.) (22) Kavita Securities Private Limited FY 04 5.02 0.970 24. Sushil Bhuwalka Mr.10 (0. Shyamlal Agarwal Mrs. The board of directors of the company comprises Mr.43) NA NA NA NA 9.40) NA NA NA NA 9. 10 each) Reserve & surplus Excluding revaluation reserve Misc. D.960 50. V. expenditure not written off /Preoperative expenses Income PAT Dividend EPS (Rs. Shareholding Pattern The shareholding pattern is as follows: . of shares 10 10 10 10 10 10 10 24. Mr.02 0.02 0.02 0. Urmila Bhuwalka Mrs. Ltd Total Financial Performance The financial performance of the company (Rs. R.Information Memorandum Misc. Bhalerao.19 FY 02 0.13 FY 03 5. R. 1995. Sajjan Jindal Mr.02 0. Shareholding Pattern The shareholding pattern is as follows: Shareholder Mr.00 (0. Mr.95) 7. O. P.) (0. Expenditure not written off/Preoperative Expenses Income PAT Dividend EPS (Rs.60 (0. Sangita Jindal Mrs.02 49. Surendranath and Mr.13) (21) Maharashtra Sponge Iron Limited Maharashtra Sponge Iron Limited was incorporated on September 2. Kole and Mr. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.R.) BV (Rs. Jayaraman.007 (0. Ltd Gagan Trading Co.24) 7.000 % of shareholding 0.00 The company was incorporated on February 28.) BV (Rs. Asha Agarwal Sun Investments Pvt.P.20) (0. This company is mainly in the business of investments and trading in securities. 1985 as a public limited company.09) (0.92 100.00 (0. Jindal Mr.38) NA NA NA NA (530. R.

1995.00) (5461814) 2001-02 0.00 50.16) (7. Starlight Equifin Pvt.Ltd.98 22.Information Memorandum Shareholder Naman Enterprises Pvt. Silky Investments Pvt.00 (108. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.36) (0.00 100.14) (7157. Ltd. Mr.R. Gati Securities Pvt. of shares 2 440 320 360 420 460 2002 % of shareholding 0.76) (8. It is mainly in the business of Investments and Trading in securities.12) (405.03) (8.002 (109.84) (5342) 2001-02 2.10 21. Ltd.93) (0. V. Wavelength Capital & Finance Pvt. 100 each) Reserve and surplus Excluding revaluation reserve Income PAT Dividend EPS (Rs. Shareholding Pattern The shareholding pattern is as follows: Shareholder Gauri Investments Pvt.14) (7.12) (405937. Ltd.22) (0.00 (24) Sapphire Technologies Limited . of shares 1 1 2 % of shareholding 50.00 (108.002 (109. Total Financial Performance No.98 15.64) (5335) (23) Laptev Finance Private Limited Laptev Finance Private Limited was incorporated on February 6.) BV (Rs.) BV (Rs. Surendranath.002 (109. The board of directors comprises Mr. P.) 2003-04 0.50) (5452869) No.98 20. Ltd.62 - . Total Financial Performance The financial performance of the company (Rs.07) (0. Ltd. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.01) (5348) 2002-03 2. Kole and Mr.) 2003-04 2.19) (9770.98 17. Welworth Equifin Pvt.98 100. 100 each) Reserve and surplus Excluding revaluation reserve Income PAT Dividend EPS (Rs. Animation Finvest Pvt.00 The financial performance of the company (Rs. Ltd.00 (109.50) (5468146) 2002-03 0. Ltd. Apurva Jhalani.

81 (12. K. N.002 % of shareholding 22. Ltd.N. Vrindavan Services Pvt.04 0. Gagan Trading Company Ltd. Sriram K.29 4.Information Memorandum This Company was incorporated on October 5.04 0.50.30) FY 02 25. Shireesh Wagh Mr. Jain. It is mainly in the business of investments and trading in securities. Jayant Acharya Mr.99 20. V. Raman Madhok.com” through which it conducts auctions for facilitating sale of steel products. Shareholding Pattern The shareholding pattern is as follows: Shareholder Welworth Equifin Pvt.07 (21.R.86 0.70) (3.99 17. Ltd. of shares 1. Ltd.02 0.02 100.S.04 100.000 200 100 100 100 100 100 2.) (25) FY 04 25. to act as consultants and advisors on information system etc.00 Rishikesh Finlease & Investments Private Limited Rishikesh Finlease & Investments Private Limited was incorporated on August 12. Mr. of shares 1.47) (2.31 (8.86 49. P. Mr.70) 20.150 900 1.07 (12.95) No. Nirmal Kumar Jain Total Financial Performance The financial performance of the company (Rs.04 0.60) 121.25.99 0.100 1. Shareholding Pattern The shareholding pattern is as follows: Shareholder Reynold Traders Pvt.63 - .61) 14.S. Dr.700 % of shareholding 49. Gati Securities Pvt.25.07 (8. The Company has developed a portal “Steelemart.) BV (Rs. 1994.93 4. Raman Madhok Mr.00 . Starlight Equifin Pvt. Nowal and Mr. Its board of directors comprises Mr.90) (5.99 15. Patel. Ltd. 2000 as a public limited company to carry on the business of software development. K. Its board of directors comprises Mr. Kole and Mr. Kantilal Narandas Patel Mr.44 FY 03 25. Animation Finvest Pvt. Purohit Total No. Ltd. K.050 800 1 1 5. Manish Shah P. Ltd. Wavelength Capital & Finance Pvt. N.83 1. Ltd.08 0.15) (0.000 1. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.99 21.04 0.

57) (934.) (27) FY 04 5. Mr. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.000 % of shareholding 50.79) (0.00 100.01) 1. Patel.74) 1. Its shares are held by Vrindavan Services Private Limited and Sun Investment Private Limited equally. Rishikesh Finlease & Investments Pvt.00 (873. Ltd.00 (51. of shares 25. Bavneesh Gulati.00 (51.32) (934.64 - .77) 0.18) (26) Naman Enterprises Private Limited Incorporated on April 19.17) (1724. Apurva Jhalani. Board of directors comprises Dr. K.95) FY 03 5.K.000 25.) FY 04 5. V Surendranath and Mr.95 1. V.63) No.00 (11.35) (1737.02) FY 03 5.000 50.Information Memorandum Financial Performance The financial performance of the company (Rs.00 50. 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 Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.37) (87.19) (0.91 (1736. Mr.03) (0. the number of shares being 5. Shareholding Pattern The shareholding pattern is as follows: Shareholder Reynold Traders Pvt.96) 2700.) BV (Rs. The company’s board of directors comprises Mr.000 each. Total Financial performance The financial performance of the company (Rs. Mr.00 (873.00 Jindal Technologies & Management Services Private Limited (JTMSPL) JTMSPL was incorporated on December 3. Nowal.37) (0.) BV (Rs.22) (847.27 0.18 (0. 1994 as a private limited company.95) FY 02 5.50 (4. Rajeev Pai and Mr. 2003 to carry on the business of Management & Engineering Consultancy Services. Deepak Bhat.45) FY 02 5.56) (11.100 each) Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.N.00 (862. (28) Jindal Coated Steel Private Limited . Ltd.38) (13.00 (47. the company is in the business of property development.

83) 8.” on August 6. P.) FY 04 2200. 1998.53 (2. Garg Girish Ghate Total Financial performance The financial performance of the company (Rs.27 No. The company’s board of directors comprises Mr.00 100.21 FY 03 2200.00 0.28) (0.60 FY 02 0. The company’s Board of Directors comprises Mr.00 (0.) BV (Rs.00 49. 1996 as a private limited company. Mr.000 % of shareholding 49.13) 5.000.49) (0. K. K.00 (29) Dhaman Khol Engineering & Construction Co.00 1.00 50. The company had commenced a project for setting up an organic coated steel plant.81 (11.Information Memorandum The company was incorporated as a private limited company “JBS Steel Products Pvt. 2001 and the company was reconverted into a private limited company with effect from July 26. Garg. Shareholding Pattern The shareholding pattern is as follows: Shareholder Reynold Traders Private Limited Tranquil Homes & Holdings Pvt.900 4. Sriram K S N. Nowal. However the project was shelved due to uncertain outlook in the steel market.66) No.00 100. The name of the company was changed to “Jindal Coated Steel Ltd. V. of shares 11. 1996 and was converted into a public limited company “JBS Steel Products Ltd. 2002.85) (0. Shareholding Pattern The shareholding pattern is as follows: Shareholder Jindal South West Holdings Limited Sun Investments Pvt.00 . Ltd. N. of shares 4.92) 0. in lacs) is given below: Particulars Equity Share Capital Reserve & surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs. Bhalerao and Mr.009) 5.00 (1039. D. Limited V. Jain. Ltd.000 % of shareholding 50.000 11. R.92 (29.53 FY 03 1.” with effect from February 23.00 1.000. Presently the company is in the process of diversifying into other business activities.63 0.05) 5.00 (1053. Total Financial performance The financial performance of the company (Rs.09) (0.00 (1051.65 - . The Company is in the business of trading in steels and also has made strategic investment in South West Port Ltd. V.000 22. Mr. Raman Madhok and Dr.” on December 12.22 FY 02 2200.02 (0. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Miscellaneous Expenditure not written off FY 04 1. P. Private Limited Incorporated on January 12.99) 16.900 100 100 10.000.42) 0.

47 FY 02 289. Balaji Swaminathan Mr.00 295.00% 0. Abraham Mr.00% 0. K. P.56 6.20 56.77 20. JTPCL has set up a 2X130 MW thermal power plant. of Shares 100 100 100 100 100 144.88 278. JTPCL consumes about 20 MW as auxiliary consumption and supplies about 140 MW of power to JVSL and about 100 MW to KPTCL. in Toranagallu village. Sajjan Jindal Mr.31 234.) BV (Rs.56 1. The Board of Directors comprises: Mr. Jain Mr. District Bellary.90) JTPCL was incorporated on March 10.00% Chairman Vice Chairman Joint Managing Director & CEO Director Finance Director Director Nominee of ICICI Nominee of IDBI .685.03)(15.35) (459.73 No.55 21. Ratan Jindal Jindal Vijayanagar Steel Limited Gagan Trading Company Limited Sun Investments Pvt. Sajjan Jindal Mr.Information Memorandum Income PAT Dividend EPS (Rs.14) (1. in crores) is given below: Particulars Equity Share Capital Reserve & surplus Excluding revaluation reserve Operating Income PAT Dividend EPS (Rs. The plant has been operating since January 2000 at PLF of over 95%.499. Limited Total Financial Performance The financial performance of the company (Rs. Krishna Deshika Mr.000 % of Shareholding 0. Jayaraman Iyer Shareholding Pattern Shareholding Pattern is as follows: Shareholder Jindal Strips Limited Jindal South West Holdings Limited Mr. Raaj Kumar Mr.05 10.38% 35.00% 50. N.00 231.27% 100. Prithvi Raj Jindal Mr.T.100 102.00 100.11 1.00% 0.01) 41.) FY 04 289.33 (0.) BV (Rs.00% 0. It is engaged in the business of power generation.74 13.K.400 12. 1994.) (30) Jindal Thermal Power Company Limited 430.00% 4.40) (0.48 (11. Limited Vrindavan Services Pvt.13) (0. Karnataka.000 289.000.655.24 FY 03 289. R.000 29.66 - .43 195.96 12.00 79.35% 10. Raman Madhok Mr.46 0.160.

79% 100. Spread over 3500 acres of land.) BV (Rs.400 26. Jain Mr.07% 0. namely: Unit I and II.02% 12. K. Bellary District.00% 0. Company’s board of directors comprise of the following directors: Mr. K. 6.00% 43. The plant.50% 0.640. Raaj Kumar Mr.86 No.Information Memorandum (31) JSW Power Limited (JPL) JPL was incorporated on January 3.2 crores (as on 3. 2003 under the Companies Act.700 100 100 100 33. which will be captive to Jindal Vijayanagar Steel Limited (JVSL). 9.K.600. Upinder Singh Mr.26% 3.43% 5. N.000 10.600 4. Sanjay Sagar Mr. 1956. J.3.) (32) FY 04 Rs.00% 0.67 - . of shares 5000 55.000 200. It has been promoted by JISCO and its associated companies and Karnataka State Industrial Investment Development Corporation Limited (KSIIDC). JPL is setting up two power plants with the capacity of 100 MW each. has a production capacity of 2. JVSL's plant located at Toranagallu.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. Austria is the first plant to .000 78. 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.05) NIL Commercial Operation yet to begin Commercial Operation yet to begin Nil Commercial Operation yet to begin Rs. The company is also now setting up of two 30 MW power plant in SISCOL premises. 1994.01% 0.5 mtpa of HR coils with an investment of around Rs. The scheduled time for commissioning of Unit I is April 2005 and for Unit II is October 2005.959.000 % of shareholding 0. 78.500 Cr. JPL is promoted by Jindal Thermal Power Company Limited and the other Companies of the Groups. Krishna Deshika Mr.000 2. which uses COREX technology from Voest – Alpine.T.000.93% 34.200.739.

08 Nil 3590.82% 0.Indian Promoter's . Insurance Companies (Centeral/State Govt.03% 22.Foreign Promoter's Persons acting in Concert Sub .41% C 4 A B C D 28028571 7901485 39035198 4346484 21715128 2354540 684458 43980 29144590 129039142 21.04 (110.67) Nil (0.83% 1.13 2329.) # BV (Rs.74% 4.Total Non-Promoter's Holding Institutional Investors Mutual Funds and UTI Banks.49 528.68 Nil 3.16% 3105142 2. Finacial Institutios.25% 3.97 7035.11 80% 64.00% Stock Market Data .69 # Previous years’ EPS has not been recomputed on the basis of share capital re-organized in the year 2004-05 as per the terms of the Scheme of Arrangement & Amalgamation. of Shares held % Shareholdings 55154742 5704612 0 60859354 42.68 - .42% 0.59% 100.Information Memorandum use oxygen-based Iron and Steel making in the country with continuous casting and hot strip mill.Institutions /Non-Government Institutions) FIIs Sub . in crores) is given below: Particulars Share capital Reserves and surplus (excluding revaluation reserves) Sales (including Excise duty) PAT Dividend (%) EPS (Rs.12% 30.37% 16.Total Others Private Corporate Bodies Indian Public NRIs/OCBs Any Other(Please Specify) Trust Huf Sub . Plates and Sheets and is the only flat Steel Producer in South India.) 2004-05 469.53% 0. JVSL manufactures high quality Hot Rolled Coils.86) 1.00% 47.92 6. JVSL was set-up as a backward integration facility for production of hot rolled coils for JISCO.28 2002-03 1352.Total Grand Total No.30 2003-04 1631. Shareholding pattern as follows: - Category A Promoter's holding Promoter's * 1 2 B 3 A B .72% 6.98 195.03 Nil 2786. Financial Performance The financial performance of the company (Rs.90 870.

80 18.40 11.N. Vittala Murthy. IAS Mr. 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. S. Raman Madhok Mr.) Low (Rs.79 12. The said scheme has been sanctioned by the Hon’ble High Court of Mumbai and Karnataka and has since become effective from 4th February.00 14.40 11. 2005) on BSE was Rs. David Chandrasekaran Mr.25 15. Sajjan Jindal Dr.95 18. Balaji Swaminathan Mr. 1993 in the name of Kay Kay Cold Storage Private Limited.V.69 - .M.2004 to 31. Vasind division (consisting of cold rolling facility) of the Jindal Strips Limited has been transferred to a subsidiary company Kay Kay Cold Storage Limited with effect from January 1. Out of 5255 complaints (related to shareholders) received during the period 01.50 356. JVSL as a consolidated entity has acquired significant strength with strong financials.) 457. The Board of Directors of the merged entity comprises: Smt.30 and the market capitalization was Rs. Gupta Mr. Anthony Paul Pedder Dr. Ramaswamy P.90 14.2005.K.40 356. The name of the company was changed to Jindal Steel and Alloys Limited. 2005.03. Managing Director & CEO Jt. Pursuant to scheme of arrangement sanctioned by High Court of Punjab & Haryana. facilitating for organic and inorganic growth. 2000 (appointed date) on a going concern basis for a consideration of Rs.) Low (Rs. The scheme has been made effective on October 3.10 NSE High (Rs.) 458. 391.00 13. IAS Mr. 2003.70 22. B. Singh Mr. 5127 complaints have been resolved and 154 complaints are pending. 2000. Through a scheme of Arrangement and Amalgamation between JISCO. the steel business of JISCO has been merged with that of JVSL from the Appointed Date 1st April. 5.N. The company was incorporated on June 10. N.I.10.S Dr.90 14.Information Memorandum Month/Year March/2005 Februvary/2005 January/2005 December/2004 November/2004 October/2004 BSE High (Rs. Seshagiri Rao M.00 11. The company has its investor service center at Mumbai and has engaged the services of a Registrar & Transfer Agents to handle investor grievances. Savitri Devi Jindal Mr. Roy Mr.049. R.30 crores. Board of Directors details as follows . 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. Aiyar (33) Jindal Steel & Alloys Limited Chairperson Vice Chairman & Managing Director Jt. Gokul Ram.75 12.67 12. The average time taken by the company for redressal of complaints varies from 7 to 15 days.00 18.20 15. depending on the type of complaint.35 The market price of shares of JVSL (as on April 4. 35 crores. After the merger.80 18. JSWHL and JVSL (“scheme”).65 13.99 11.65 22.

A.24 54.) BV (Rs. Ratan Jindal Mr. ores etc.0014 100 0.0071 100 0. Sushil Bansal Mr. Singh. Mr. K.0000 The financial performance of the company (Rs.00 3005.0014 100 0.00 1500 15.27 0. B.18. Singh. Om Prakash Agarwal Shareholding Pattern is as follows: Shareholders Jindal Strips Limited Mr.00 2951. N. Patel Mr. P.82 FY02-03 702. in lacs) is given below: Particulars Share capital Reserves and surplus (excluding revaluation reserves) Sales (Net of Excise) PAT Dividend (%) EPS (Rs.78 1. Rajeev Pai Mr.00 3000 30.0014 100 0.80 FY01-02 702. Krishne Gowda.0014 7020000 100. Jija Madhavan Hari Singh. Subhash Sharma Mr. metals.500 99.02 The company was incorporated on June 17. P. Smt.00 . U. Yogendra Tripathi.) (34) Vijayanagar Minerals Private Limited (VMPL) FY03-04 702. Mr.Information Memorandum Name Mr. Gupta.34 17005. Limited Total Financial performance No. Jindal Mr. K. V. Nowal Mr. of shares % of shareholding 70.00 53.56 52. Kole Mr. N. Dr. K. Vinod K.83 9808. Raman Madhok. N. Mr. It is in the business of mining and extraction of minerals. Patel Mr. N. Anil Sood.0071 500 0. O.00 3075.49 1.9786 500 0. Rajeev Pai Total Financial Performance: Designation Managing Director Director Director Director Director Director Director Director No. R.68 109. Venkateshan and Mr. K. Raman Madhok Mr.06 21569. The board of directors comprises Dr.0014 100 0. of Shares % of shareholding 4000 40. P. Mr.77 52.00 1500 15. S. Ram Chandra Sharma Dr. M.28 70. Mr. Shareholding Pattern The shareholding pattern is as follows: Shareholders Jindal Vijayanagar Steel Limited Mysore Minerals Limited Gagan Trading Company Limited Sun Investments Pvt. 1997. Jain Mr.00 10000 100.70 - .

K.Information Memorandum The financial performance of the company (Rs.664.64 0.93 45.74 (61.50.10) 10 Southern Iron And Steel Company Limited (SISCOL) Southern Iron and Steel Company Limited (SISCOL) was incorporated on September 11.39. The board of directors of the company comprises Mr. (TIDCO).71.71 10. Mr. Mr. LMW has sold their entire shareholding in SISCOL to the Jindal South West (JSW) Group. Lakshmi Machine Works Ltd.00 (463. V. Steel Billet and Rolled Steel products in the long product category. Sajjan Jindal) (b) TIDCO Sub Total (a)+(b) Other Shareholders Mutual Funds and UTI Banks. Mr.10) 1.00 (629. Billets. K.82.974 3.30 0. The Company is in the business of manufacturing Pig iron. Kamal Kishore Gupta and Mr.16) 2.50.04 100% .3 mtpa.) (35) FY 04 1. 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. T.90 (568. It also has plants for generation of power and production of oxygen.289. Bars and Rods at its integrated steel plant located at Pottaneri/M. Shareholding Pattern The shareholding pattern as on December 31.88 166.08 0. FIs and Insurance Companies Private Corporate Bodies Indian Public NRIs/OCBs Total Financial performance The financial performance of the company (Rs.000 82.01 3.000 56.00020 (568. which is headed by Mr.00. Prakash.000 3. N.45) 10 FY 02 0. (LMW) and Tamil nadu Industrial Development Corporation Ltd. Sajjan Jindal.92 50. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Sales PAT Dividend EPS (Rs.42.700 10.) BV (Rs.55) 1. P. The Company operates an integrated steel plant having facilities for production of Pig Iron. Mr. 1991 as a Public Limited Company promoted by M/s. Sinter plant in August 1997.00. The Company has become a Sick Company as on June 30. In terms of the CDR approval and as per approval by the shareholders of SISCOL and by SEBI.850 % of shareholding 39.39 10 FY 03 1. 2004 within the meaning of the Sick Industrial Companies (Special Provisions) Act. 2004 is as follows: Category Promoters and Promoter Group (a) JSW Group (including Mr.55. Kalipatti villages. Krishna Deshika. Jain. V.in lacs) is given below: No. S. The Company started commissioning its units with iron making division and power plant in 1996. Steel Melting Shop in January 1999. Kshirsagar. Vijay Sharma.976 29. 1995. Air Separation plant in June 1999 and Bar and Rod Mill in May 2002.71 - . Mr. Shanmugasundaram. The capacity of the plant is 0.100 7.051. of Shares 3.21. and is referred to BIFR.100 29.

2005 – Received 16.31) (16. Saket Agarwal.11 The Company’s rights issue is open since March 31. Sharma (Joint MD & CEO). 2005 and closes on April 29. Co. Mr. engineering.24 7607. of shares 1.67) 10. The board of directors of the company comprises Mr.20. equipping.96 26844.05 20.20. operate and transfer (BOOT) basis. Captain B.05) 4. Ltd No.) 18.) Stock Market Data Month October 04 November 04 December 04 January 05 February 05 March 05 BSE High (Rs.38 (2771.182.000 % of shareholding 26.J. Sajjan Jindal.) 14. Mr.00 18.06 FY01-02 16039.95 15.43 (4570. operating and maintaining two dedicated bulk cargo berths at MPT on a build. Nasser Munjee and Mr. financing. & Const.00 21. The company’s name was subsequently changed to SWPL in September 2003.85 51. own.96 4930.V. The company has engaged the services of a Registrar & Transfer Agent to handle the grievances of the investors.30 23.10 18. resolved/replied 16 and Pending Nil. 1997 as a private limited company known as ABG Goa Port Private Limited and promoted by ABG Heavy Industries Limited (ABGHIL).47) Nil (6. 2005) on BSE was Rs.85 24. Status of Investor Complaints received during the period from October 2004 to March. Nowal. (C) Associate Companies (1) South West Port Limited (SWPL) SWPL incorporated on June 26. 1999 for the development.56 (15340.60 23.24 7607.) BV (Rs.45 Low (Rs.75 34. The average time taken by the company for redressal of complaints is up to two weeks.Information Memorandum Particulars Share capital Reserves and surplus (excluding revaluation reserves) Sales PAT/(Loss) Dividend (%) EPS (Rs. V.K.The market price of shares of the company (as on April 15. designing.96 34144. 2005. Shareholding Pattern The shareholding pattern is as follows: Shareholder ABG Heavy Industries Ltd. constructing.24. Dr.72 - .12. (including nominees) Dhaman khol Engg.23 .80 21. Raman Madhok.43) Nil (3. Pvt.80 FY03-04 (15 months) 16039.24 7607.05 crores. owning.25) FY02-03 16039.10 and the market capitalization was Rs.49) Nil (20.000 84.K. SWPL has entered into a license agreement with Mormugao Port Trust (MPT) on April 11. depending on the type of complaint.

21 9. Mr.600. Shareholding Pattern The shareholding pattern is as follows: Shareholder Praxair Pacific Private Limited Jindal Vijayanagar Steel Ltd.062 4.000 23.200.01 12. C.11 25. K.00 After March 31. (2) Jindal Praxair Oxygen Company Private Limited (JPOCL) JPOCL was incorporated on September 27. Jain.79 845. I.82 FY 02 550.03 NIL 1. Ltd.000 3. 9. Ltd.20. Venkatesh Prabhu and Mr.910. (Including Nominees) Silver Steel Ltd Total 1.571. Mr. Mr.200. Total Financial performance The financial performance of the company (Rs. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.37 2.81 9.00 26. of shares 11. FY 2003 FY 2002 FY 2001 15. Nalwa Chrome Pvt. Muralidhara.24. Kalyana Sundaram.) FY 04 3497.938 1.24.42 3. John Panikar. Financial performance The financial performance of the company (Rs.877.95. 1995 and manufactures liquid and gaseous Oxygen.01 NIL 2. Asit Gangopadhyay. Mr.85 FY 03 1150.59 No.K. Nitrogen and Liquid Argon.10.31 16.43.00.00 --7. Mr.00 7.5% Secured Redeemable Non Convertible Debentures of the Company are listed on The Stock Exchange.17 100.Information Memorandum Tranquil Homes & Holdings Pvt.10 NIL 1. 10 each) Reserves and surplus (excluding revaluation reserves) Income (incl.) BV per share (Rs.79 22. in lacs) is given below: Particulars Equity Share Capital Advance against Share Capital Reserve & Surplus Miscellaneous Expenditure not written off BV (Rs. Mr.00 . Mr.00 450. Gerry Reidy. The Board of Directors of the company comprises Mr.80.98 9.89 27.752.000 15.00 -28.85 Since the company had not started commercial operation till FY04. Vikas Sharma.17 1.) Note: Audit for FY 2004 has not been completed yet. Qureshi.248.00 100.00.11 11. Sharad Madhok.00. Moosa Raza.02.62.000 % of shareholding 74.604.00 4. However.73 - . The Shares of the SWPL are not listed.00 15. Mumbai. Mr. 2004 the Company has issued 11229900 equity shares.01 --53.91 13. other income) PAT Dividend (%) EPS (Rs.000 45.718. N.20. Mr.36 9.551.47 2. no profit and loss account has been prepared by the company.

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

pursuant to the provisions of Section 391-394 of the Companies Act.96 lacs as against Reserves and Surplus of Rs.28 lacs. 529. The Company raised equity share capital of Rs. the Company continued to hold its investments in Jindal Group Companies in addition to providing of consultancy services. 52121. Pursuant to the Scheme of Arrangement and Amalgamation approved by Hon’ble High Courts of judicature at Bombay and Karnataka. During financial year 2001-02 since the Company had not commenced any commercial activity. 2001. After giving effect to the above Scheme during the Financial Year 2004-05. During financial year 2002-03 the Company raised additional share capital of Rs.75 - .06 lacs. or deed. . 0.48 lacs. 560. without any further act. the Investment Division of JISCO. 1956. 0.Information Memorandum MANAGEMENT DISCUSSION & ANALYSIS Performance in successive periods The Company was incorporated on July 12. 5 lacs and incurred pre-operative expenses to the tune of Rs. any adverse financial impact on the operations / business / performance of investee companies will have negative impact on the revenue of JSWHL. 5 lacs and made investments in Jindal Group Companies to the tune of 8.50 lacs. stands transferred to and vested in JSWHL. the Income of the Company for the year ended March 31. no Profit & Loss account was prepared. 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. instrument. The Company also provided consultancy services resulting in an income of Rs. Therefore. 1109. 2005 stood at Rs.70 lacs. In financial year 2003-04.66 lacs mainly comprising of dividend and interest income and the Profit after Tax amounted to Rs.

23 183. A comparison of promises versus performance is given below: (Rs.00.00.00 32.00 17.78 197.18 (0.00 151.18) The project cost to set up an integrated steel plant of capacity of 1. 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.93 1740.48 (29.00 134. 1090 crores.00 34. converter caster. 3300 crores including margin money for working capital.00 (0.84) 801.000 equity shares of Rs. increase in interest during construction and foreign exchange variation also resulted in a cost overrun of the project.84) (0.00 614.37 0.08 1548.50.00 320. 10 each for cash at a premium of Rs.00 317. These issues opened for subscription on February 10. The actual project cost up to March 31.77) 1093. A comparison of promises versus performance is given below: . 10 aggregating Rs.00 78.00 134.00 0. 24.Information Memorandum PROMISE VERSUS PERFORMANCE The details of shortfall in promise vs.67 80.00 126. Public Issue of Jindal Vijayanagar Steel Limited The company had come out with two simultaneous but unlinked public issues of (a) 13.00 129.50 crores and (b) 35.50 crores. Public Issue of Southern Iron And Steel Company Limited The Company had come out with two simultaneous but unlinked issues of (a) 1. 6226 crores. Capitalisation of preoperative expenses incurred during prolonged trail run.00.87 84. 135 crores and (b) 27.43 23.25 mtpa of HR coils in June 1994 was estimated to be Rs. 2004 was Rs.00 725.77) (34. hot charging systems in Hot Strip Mill were added to enhance the overall capacity of the integrated steel plant to 1.76 - .00 623.00 524.30) 0. modifications were effected to the basic design of the main plant and additional plant/facilities like pellet plant.20 47.50.00 530.00 931. the steel industry as a whole witnessed historically low level of selling prices on account of a global down turn. When the company started operation of the integrated steel plant after recommissioning of Corex. 25.27. 40 each for cash at par aggregating Rs.29 (148.00 180.18) (148. 1995.00 537. Corex 1 was recommissioned after a lapse of one year by carrying out rectifications/modifications. 10 each for cash at par aggregating Rs.30 (34.68 21.00 162.25.04) 1220.57 mtpa.04) (29. 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 621.000 14% secured redeemable Partly Convertible Debentures (PCDs) of Rs. These issues opened for subscription on March 23.000 Partial Optional Convertible Debentures (POCDs) of Rs.00 738.000 equity shares of Rs.00 162. 70 each for cash at par aggregating Rs.92 1944. Delay in disbursal of loans and non-receipt of call money caused a further delay in project implementation. The commissioning of the plants was delayed due to technological issues. 1995. During the initial project implementation.

00 (2.78 75.77 - .725 41.71) (21.01) 5.18) 75. power and furnace oil increased. which added to the cost.00 75. adversely affected the equipment and the life of refractory lining.61) (18. Frequent stoppages of ASP caused substantial increase in cost of up-keep for the equipment.00 (2.52) 17.52 9.00 86.46 15.55 19.00 (1.725 214. which in turn was due to non-availability of working capital.500 76.86) 8.63 1.48) 17.80 76.01 2.66 75.47 28.88) (12. Frequent shutdowns and start up at blast furnace has led to excessive consumption of costly input materials such as coke and furnace oil.41 183. FY 97 Projection Actual 214.00 70.80 17. the cost of project went up substantially adding to the fixed cost component of its finished products.56 5.54 76.50 230.00% 27. the fixed cost and semi-fixed cost components such as manpower.42) 17.45) 5.00 113.55 (33.86) Due to delay in disbursal of funds by the financial institutions for project completion.725 22. especially at blast furnace. the selling prices showed a decreasing trend. with pyro metallurgical equipment and machinery.42) 75.34 51.12 21.45) (4. The shutdown of operations.70 10.e.49 37. being an integrated steel plant.42) (12. energy i.17 15.74) 12.66 5.34 29.61) (13.31 4.91 3. The plant.18) (14.13 84. electricity etc.00 49. Due to under-utilization of capacity at iron making and steel making stages and almost no capacity utilization in BRM.89) 19.95 7.27 (7.94 22. Every start up required liquid oxygen to be purchased from external source.06 21.37 75. requires uninterrupted operations. The lower capacity utilization was due to non-availability of input materials in time.725 80.55 (33.00% 87.79) 8.00 161.45 116. lower demand and lower sales realization. Air Separation Plant (ASP) and boilers of power plant and Energy Optimization Furnace (EOF).16 62.Information Memorandum (Rs. reduce cost of production and to improve quality.08 (4.46 37.49 (1.78 (24. In view of external factors such as adverse market conditions.13 0.00 75.) Book value (Rs) 183.50 265. also substantially contributed to a high cost of production.44 7.29 4.87 5.28 0.37 (4.00% 261.37 37.45 (12. the Company took various steps to improve operational efficiency.500 0.00% Trial prodn. While the cost of input.725 70.98 46. mainly raw material.96 21.42 0.91 25.89% 293.29 4.53 (21.99 39.70 29.60 (7.37) 70. Cryogenic equipment such as ASP is not designed for any stoppages and is expected to work with uninterrupted operations for years together.725 90.14 FY 98 Projection Actual 214.58 60.50 301.27 1. Due to frequent stoppage and start-up.88) (12.21% 65.80 14.71) (14.35) (13.00 FY 99 Projection Actual 214.51 - 47.79 101. The unscheduled stoppages .08 (24. The main reason for this was depressed steel market scenario with low demand and low selling prices.47 214.08 (4. competition. which was even below the cost of production.% Net cash accruals Equity capital Reserves & surplus EPS (Rs.25 (18.00% 228.44 9.37) 47.81 48. decrease wastage.35 65.78 51.72) 19. 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. 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 .35) 75. blast furnace.61 75.72% 16.00 75.19 214.34 8.

As a result.5% Partly Convertible Debentures (PCDs) of Rs. 1035 crores. other pre-operative expenses of Rs. 688 crores in September 1997. the present project expansion is being implemented by the JSW Group. The Company later entered into a contract for 0. there was an increase in the cost of project estimated at Rs.87 crores to Rs. There was also an increase in cost of miscellaneous assets to the extent of Rs. which was scheduled for completion in October 1998. an increase by 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 . there was an increase of Rs.05 crores.17 crores. However. However. increase in trial production losses capitalized of Rs. 46 crores including refurbishing cost for a 0. to enhance capacity from 0. the company came out with the rights issue of 77. 143.78 - . However. 2. the facilities were shut down from November 2000.71 crores and pre-operative expenses and interest during construction by Rs. Public Issue of Jindal Strips Limited In 1992. which blocked working capital and increased interest cost. 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.96 crores and balance mainly on account of the cash losses on sale of the intermediate products. and executives who have experience in implementing projects in the area. The increase was mainly on account of the increase in the interest during construction of Rs. Revision in August 1999: Due to the depressed capital market conditions. The project has witnessed time and cost overrun since inception due to various reasons outlined above. 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. to Rs. the Company could commission only the first phase of the project (iron making facilities) by July 1996.12. was delayed.18 crores. Consequent to the change in the configuration of the mill. 839 crores in August 1999 and finally revised to Rs. mainly due to delays in acquisition of land.91 crores on the foreign currency loans. 360 each for cash at par aggregating Rs.Information Memorandum also resulted in huge inventory of high value items like ferro alloys. 280. The Company’s project was originally scheduled for completion in March 1996. The Company had originally planned to import a second hand mill at a cost of Rs. 450 crores in July 1994 was revised to Rs. The original cost estimated at Rs. the Company could not raise the public portion of the additional equity aggregating Rs.08 crores.22 mtpa mill. 839 crores. 34. 35. 25. 27.79.1 mtpa Sponge Iron/Pig Iron to 0. exchange fluctuation of Rs.101. with commercial production in April 1996. 19.1035 crores in September 2001. The project had suffered a cost overrun from Rs.151 crores mainly on account of additional interest during construction of Rs. Due to the gap in the means of financing.06 crores. 450 crores at the time of original appraisal to Rs. capital equipment costs not originally envisaged (electro-magnetic stirrer) of Rs.6 mtpa of Sponge Iron and 0.203 . 12. because of an increase of Rs.10 crores for meeting a part of the Rs. 1035 crores till completion of project in January 2003. due to shortage of working capital. 12. 196 crores compared to the previous appraisal of Rs. Revision in September 2001: The Company had commenced production from part of the facilities. the implementation of the project. 4. 238 crores increase in the project cost as appraised in September 1997.30 mtpa mill at a cost of Rs. the new promoters.108.1 crores. The project cost was reappraised in September 2001 to Rs. 839 crores. 44.44 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.05 crores.28 crores consequent to delays in the implementation of the project.

Madhya Pradesh. The Submerged Arc Furnace installed initially was utilized for manufacturing Ferro Chrome.68 28.734 513 5.719 490 46. was Rs.99 2. in crores): Land & site development Building Plant & Machinery Misc.00 449. Sponge Iron was to be manufactured from the Rotary Kiln (6 kilns each of 0.175 nil 20. A comparison of promises versus performance is given below: The cost of fixed assets in the project is as under (Rs.000 kwh Utilisation 4% 3% 11% 0.000 MT 200. Fixed Assets Others Total Planned costs Actual costs 1.82 15.41 19.34 147. 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 company.000 MT 300. As per the original plan. Installation of kilns of Sponge Iron and 45 MVA power generation facility was completed by the company as follows: Particulars Kilns Turbine Generation # I Turbine Generation # II Turbine Generation # III Electric Arc Furnace I Electric Arc Furnace II Submerged Arc Furnace Actual Date of Completion 21-Mar-91 to 11-Jan-96 23-Mar-92 18-Mar-94 28-Mar-95 23-Feb-93 28-Feb-95 21-Mar-91 As per the plans disclosed in the letter of offer of the company.000 MT 100.62 57.566 97.449.79 99. The company expected to achieve a capacity utilization of 30% for 1992-93. however.Information Memorandum plant at Raigarh. This technology was.52 The actual project cost.000 MT 100. 50% for 1993-94 and 70% for 1994-95 for its new project. This issue opened for subscription on March 9.36 85. The actual capacity utilization is as given under: Year Product 1990-91 Sponge Iron Pig Iron 1991-92 Sponge Iron Pig Iron 1992-93 Sponge Iron Pig Iron Mild Steel 1993-94 Sponge Iron Pig Iron Mild Steel Power Unit Installed Capacity MT 100.5% 23% 1% 26% 43% 10% .1 mtpa) and the Sponge Iron in hot stage.757.52 crores.000 MT 200. the kilns and submerged arc furnaces were expected to be installed by March 1994.000 30 MW Production 97 75 11. not successful for the company.000 MT 100. 1992. changed the plan for manufacture of Pig Iron and decided to install 2 Electric Arc Furnaces of 50 tons each for manufacturing Mild Steel. was to be transferred to Submerged Arc Furnace for manufacturing Pig Iron.89 345.79 - .000 MT 200. therefore.62 355. and problems were also faced by other steel manufacturers.916 2.000 MT 200. cumulative till 1995-96.000 MT 100. without having the cooling cycle operation.

745 7.000 200. Public Issue of Jindal Saw Limited In 1986.380 69.3.92.000 equity shares of Rs. 1.970 35.850 45. The project was completed on 13.000 204.667 kwh 1. 1986.613. to set up a project for the manufacture of high pressure.992 crores.000 500. . The actual capacity utilization is close to the projected figures except for some differences encountered during the process of stabilization of equipment. thick walled large diameter SAW Pipes.731 66% 23% 6% 71% 14% 26% Note: Capacity utilisation % has been worked out after considering commissioning period.447 78. This issue opened for subscription on July 7.073.000 500. the company came out with the public issue of 19. 10 each for cash at par aggregating Rs.000 45 MW 30.1987 and commercial production was started.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 400.80 - .000 30 MW 30.771 300.

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

has also filed seven suits against Hindustan Foil to recover an amount of Rs. IDCOL had invited bids for forming a JV with in respect of Tangarpada Mines and selected Jindal Strips as its JV Partner.F.Information Memorandum application for registering itself as a Sick Industrial Unit with BIFR. ("IDCOL") - The Plaintiff is a shareholder of Jindal Strips and has filed this suit for restraining the company from releasing any payment to other Defendants without adjusting the loss caused by the other Defendants to Defendant No. …Defendants Civil Court. - Sanjay Kumar …Plaintiff V/s.1. Hisar for Hearing Injunction Suit - 3. Jindal Strips has Appealed against the aforesaid order in the Apex Court. The application is presently pending before A.27010 of 2004 Jindal Strips Ltd. State of Orissa & Ors. Special Leave Petition No. Jindal Strips Ltd. A Special Leave Petition has been filed pursuant to the Order passed by the Division Bench of Orissa High Court which directed IDCOL to issue fresh advertisement to select a new JV Partner.I. Jindal Strips Ltd. …Petitioner V/s. Other companies and organisations viz. .) 2.R. …Respondents Supreme Court of India for Hearing Joint Venture Partnership between Industrial Development Corporation of Orissa Ltd.82 - . 45 lacs (approx. TISCO and VISA had also filed Petitions challenging the selection of Jindal Strips as JV Partner of IDCOL.

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

Information Memorandum

6.

Criminal Complaint No. 35 of 1996 under Section 138 r/w Section 142 of the Negotiable Instruments Act.

Jindal Strips Ltd. Vs. M/s. Uniplas India Ltd. & Ors.

MM Patiala House, New Delhi For Evidence

Return of InterCorporate Deposit

50,00,000/as principal amount and Rs. 3,03,780/- as interest

7.

45 of 1995

M.S.T.C. Vs. Jindal Strips Ltd.

4th Court pf Civil Judge (SK Division), Alipur Court

Payment of Charges

Rs. 9.88 lacs

Committee Report which had in turn granted 39.742 hectares to Jindal Strips Ltd. amongst others was struck down by High Court of Orissa. State of Orissa has filed an SLP against the said judgment. Jindal Strips Ltd. had also filed a Writ Petition against State of Orissa for quashing the decision of the State Government to allocate entire area of 436.295 hectors to Orissa Mining Corporation Jindal Strips made an Inter-Corporate Deposit (ICD) of Rs. 50,00,000/- in Uniplas India Ltd. for a period of 90 days. Uniplas India Ltd. issued cheques of Rs. 50,00,000/as principal amount and Rs. 3,03,780/as interest by way of return of the ICD which were dishonoured by the Bankers of Uniplas India Ltd. This complaint was thereafter filed under section 138 r/w Section 142 of the Negotiable Instrument Act. There was an suit filed in 1984 against the Company in which the Plaintiff was granted an Ex-parte Order for payment. The company filed another suit for setting aside the ex-parte order, which is pending.

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Information Memorandum

8.

TS/141/1997

9.

TS/166/2004

Sajjan Industrial Corporation Vs. Jindal Strips Ltd. Sajjan Industrial Corporation Vs. Jindal Strips Ltd.

2nd SubJudge Court (Sr. Div.), Howrah 2nd SubJudge Court (Sr. Div.), Howrah

For Common Postage

No money claim

Claim for Rent

The Plaintiff has filed this suit claiming some rent to be payable by the company.

Note: Some Shareholders have filed 14 Cases in various Courts and Consumer Redressal Forums in India for grievances such as issue of duplicate share certificates, loss in transit and non-receipt of interest warrants. Labour Disputes

1.

Five (5) Cases

State, through Asst. Director, Industrial Safety, Health, Hisar… Plaintiff V/s. R. P. Jindal (Occupier & Manager of M/s. Jindal Strips Ltd.) Defendants

Chief Judicial Magistrate, Hisar for Hearing

Death and Injury to some workers in the Factory

Minimum fine of Rs. 1, 20,000/-

Some workers of the company met with an accident in the factory. A couple of them died and the others suffered grievous injuries. According to the department, there was a violation of Section 7A and 21 of the Factories Act and Rule 66C of Punjab Factory Rules, 1952. The company is disputing the allegations.

Sales Tax Matters

1.

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

Joint Excise & Taxation Commissioner (Appeals)

A.Y. 19911992

Rs. 58,35,057

The Dy. Excise & Taxation Commissioner cum Assessing Authority, Hisar passed an order levying total Purchase Tax of Rs. 58,35,057/- upon the Company in relation to store goods, which were consumed in the manufacture of goods, which were sold either in Haryana or in consignment sales outside the State of Haryana. The company disputed the liability on the ground that no tax is to be levied as the percentage of goods purchased from Haryana was the same, which were sold within the State of Haryana. The company has challenged the aforesaid order by filing this Appeal before the Jt. Commissioner (Appeal).

Income Tax Matters

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Information Memorandum

1.

I.T.A. No.276 of 2003

Commissioner of Income Tax V/s. M/s. Jindal Strips Ltd.

High Court, New Delhi

A.Y. 19961997 This matter is in respect of the liability of Jindal Strips Ltd. The first I.T. returns of Jindal Stainless Ltd. have been filed in A.Y. 200304.

Loss of Rs. 6,47,95,725/ Tax amount of Rs. 2.98 crores

The company has debited an amount of Rs. 6.47 crores to the profit and loss A/c. for the year ending 31.3.1996 on account of fluctuation in foreign exchange rate. The Department has filed the above Appeal in the Delhi High Court challenging the above order dated 17.10.2002 of ITAT, New Delhi.

Investigation by SEBI An investigation has been carried out by SEBI in respect of spurt in prices and volumes of Jindal Strip Ltd. (JSL) during the period April to October 2004. SEBI had written to JSL in November 2004 asking for the company personnel to appear before the investigating officer in respect of an investigation being carried out by SEBI. Certain information asked for by SEBI was provided by JSL in the meeting with SEBI and the remaining information was furnished vide its letter dated January 10, 2005. However, JSL has not received any other communication from SEBI subsequently.

(2)

Jindal Holdings Limited

As per the Audited balance sheet of 2003-04, contingent liabilities not provided for in respect of 5,50,00,000 equity shares of Jindal Vijayanagar Steel Ltd. (JVSL) and 669 equity shares of Jindal Iron & Steel Co. Ltd. have been deposited with a financial institution, for financial assistance taken by other body corporate.

(3) • •

Stainless Investments Limited Contingent liabilities not provided for includes total demand raised by the Income Tax department upto assessment year 2001-2002 is Rs.117.34 lacs which is disputed. Non-payment of dues under Gift Tax is as follows: Name of the Statue Gift Tax Act, 1958 Nature of the dues Gift tax demand Forum where dispute is pending 1,17,34,661 ITAT, New Delhi Amount

(4) • •

Mansarover Investments Limited Contingent liabilities not provided for towards disputed income tax liability of Rs. 223.79 lacs. Non-payment of dues are as follows: -

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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. Name of the Statue No.has been paid on October 20.730 CIT (A).000/. 1958 Nature of the dues Income tax demand Income tax demand Gift tax demand Forum where dispute is pending 1.34. 399. e) Rs. 1961 Income tax demand Income tax demand 1.807 ITAT. for which no provision has been made.D.83 lacs. 743.C.00 lacs. 1958 Nature of the dues Income tax demand Gift tax demand Forum where dispute is pending 5. Name of the Statue Nature of the dues Amount Forum where dispute is pending CIT (Appeals) New Delhi ITAT New Delhi Income tax Act.Information Memorandum Sr.44 lacs (Previous year Rs. Income tax Act.I.48. New Delhi 47. c) The Company has pledged 4900000 equity shares of Jindal Vijayanagar Steel Ltd & 669 sares of Jindal Iron & Steel Co.15.437 Penalty Imposed by SEBI A sum of Rs. 175. 287.S.960 ITAT.83. • Non-payment of dues are as follows: Sr. Income Tax Act. 1. 1961 Income tax Act. 715. Name of the Statue No. 2. 1961 2. Income Tax Act. 1.65. Rs.21.738 ITAT New Delhi 1. Gift Tax Act.75 lacs Cumulative arrear of dividend on 10% Redeemable Cumulative Preference Shares.31.87 - .25. .1293.78. No. 1961 2.55 lacs of dividend on 10% Redeemable Cumulative Preference Shares not provided. 1.15. 1961 3.05 lacs equity shares of Haryana Concast Ltd from H. Gift Tax Act. 2004 Contingent liabilities are: a) Outstanding disputed income tax and gift tax liability of Rs.217 2.88.488 ITAT New Delhi Amount (6) Nalwa Investments Limited Contingent liabilities not provided: a) Disputed income tax Liability Rs. b) The Company has given 1376677 equity shares of Jindal Iron & Steel Co. f) In respect of bid for 63. New Delhi Amount (5) • Jindal Equipment Leasing and Consultancy Services Limited As per Audited Balance Sheet of March 31. Ltd with Deutsche Bank as safe custody of credit facility granted to Jindal Tractable Ltd. • Non-payment of dues are as follows: Sr.56. 212. New Delhi 61.99 lacs) b) Rs. 2004 under amnesty scheme for regularisation of Violation of Regulation 6&8 of (Substantial Acquisition of Shares & Takeover) Regulation 1997.

Information Memorandum (7) Abhinandan Investments Limited Contingent liabilities not provided: a) Rs. (8) Jindal Saw Limited Contingent liabilities not provided for as on 30. Gas Authority of India Ltd.53 lacs Cumulative arrear of dividend on 10% Redeemable Cumulative Preference shares.87 4. b) The company has pledged 2.16.I.C.. Case No. and the same has been challenged by GAIL.88 - . 175.I. Parties Pending Before Subject of the Matter Amount (Rs. 1.264 of 2003 Jindal Saw Ltd.) This case relates to the application of Price Reduction formula by GAIL pursuant to the delay in supply of pipes by Jindal Saw Ltd. (GAIL) Delhi High Court Appeal against Arbitration Award Rs.C.02 0.) Facts Case No. No. 2004 under amnesty scheme for regularisation of Violation of Regulation 6 & 8 of (Substantial Acquisition of Shares & Takeover) Regulation 1997.2004 are in respect of: Sr.360 equity shares of Jindal Steel & Power Ltd.00 Civil Matters Sr.. with I. a) b) c) d) e) f) g) Particulars Counter Guarantee given to company’s bankers for Guarantee given by them on behalf of the Company Letter of Credit Outstanding (net of liabilities provided in the books) Claims against the company not acknowledged as debt (being under dispute) Guarantees given to Bank for Credit facilities to Jindal Enterprises LLC (Wholly Owned Subsidiary Abroad) Disputed Excise Duty Liability in respect of Corporate Guarantee (for 100% EOU Unit at Mundra) Bank Guarantee given to Custom Authority for export obligation for export under EPCG Scheme Rs.35 429.752. . Penalty Imposed by SEBI A sum of Rs.has been paid on October 20. The reduction of price is being disputed by Jindal Saw Ltd.09. Ltd. for credit facility granted to JSPL.000/. 48 crores (approx. in crores 229. Vs. The Arbitrators have passed Award in favour of Jindal Saw Ltd. No.02 58.16 20.

Oil and Natural Gas Corporation Ltd. - M/s. Dhaka on false and frivolous grounds. (ONGC) Bombay High Court - US$ 60224. Bharat Petroleum Corporation Ltd. .12 crores 4. under a contract for supply of pipes. Appeal No.Information Memorandum 2.58 5. SDJV. Bangladesh Delhi High Court US$ 705698 This matter relates to the application of price reduction formula applied by BPCL pursuant to the delay in supply of pipes by Jindal Saw Ltd. This matter relates to the application of price reduction formula applied by ONGC pursuant to the delay in supply of pipes.83 crores 3. Vs. ONGC has challenged the Award before the High Court.292 of 2003 M/s. Bangladesh attempted to invoke the performance Bank Guarantee for USD 705698 issued by Canara Bank through Bank of Nova Scotia. This case relates to the dispute relating to the applicability of foreign Exchange rates on payments made by ONGC to Jindal Saw Ltd. Jindal Saw Ltd. Oil and Natural Gas Corporation Ltd. Vs. Jindal Saw Ltd.862 of 2002 M/s. Vs. Jindal Saw Ltd. 1. Jindal Saw Ltd.100 2 of 2002 M/s.89 - . Arbitra tion Petitio n No. The reduction of price has been disputed by Jindal Saw Ltd. Vs. SDJV. Arbitration Penalty for delay in supplying pipes Rs. (ONGC) Bombay High Court Appeal against the Award of the Arbitrator 1. The reduction of price has been disputed by Jindal Saw Ltd. ONGC has challenged the Award before the High Court. The Arbitrators have given the Award in favour of the Jindal Saw Ltd. The Arbitrators have passed Award in favour of the Jindal Saw Ltd. Suit No.

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

P. Under a Notification an amount equal to 20% of Basic Value of own material consumed in execution of Work Contract is stipulated to be taxed.600 The Add.Y.T. . This Appeal has been filed by the Department against Jindal Saw Ltd. 1997-98 Rs.940 3. High Court Allahabad A. 1991-92 Rs. This matter relates to the imposition of interest on tax deposited by Jindal Saw Ltd.906 4. had undertaken substantial contraction of plant and blast furnace without obtaining prior environmental clearance. 1.Y. Mundra Environm ental Pollution The Pollution Board alleged that Jindal Saw Ltd. 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. Other Indirect Taxes Matter 1. Commissioner has reopened this matter Under Section 21(2) of the U.Y. Allahabad A.T Act 1948. Jindal Saw Ltd.83.T Act 1948 for escapement of Tax. 1995-96 Rs.J Pipes Mumbai without Form No. & Ors First Class Judicial Magistrate.42. is disputing the above matter.31 by Jindal Saw Ltd. Jindal Saw Ltd.91 - . 5. Jindal Saw Ltd. A. Criminal Offences 1. 3.E. 1.Y. This case is in relation to the import of material from M/s P. Assessing Authority Trade Tax Vs. 1997-98 Rs. The provisions of Section 15 A (1) (0) of the U.66.11. Assessing Authority Trade Tax Vs. According to the Board this is in violation of the Environmental Impact Assessment Notification 1994. for carrying out job work.P. Assessing Authority Trade Tax V/s Jindal Saw Ltd. variation.T. High Court Allahabad A. Criminal Case No 416 of 2004 Gujarat Pollution Control Board Vs.T Act 1948 are attracted which stipulates penalty up to 40% of value of material so imported. High Court. Deputy Commission er (A) Kosi Kalan.694 2. Jindal Saw Ltd.Information Memorandum jurisdiction to try the matter. Assessing Authority Trade Tax Vs. on F. Jindal Saw Ltd.T.P.

2004 include: 1.40 lacs .16. & 400 equity shares of Jindal Steel & Power Ltd for which the company had to write off the shares & pay dividend received by it of Rs.Information Memorandum 5.3. 1502. Of Wealth Tax ITAT.000. 2. Mumbai has heard the Appeal and decided in favour of the Company.16 lacs. Versus Comm.20 Chargeability to Wealth Tax u/s 4 lacs and Rs. Mumbai Assessment Year 1998-99 Gagan Trading Company Ltd. the company is in the process of filing appeal to ITAT on the other issue of interest disallowance. 2265. respectively the CWT (Appeals) upheld the Assessing Officer’s contention. 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. (10) Gagan Trading Company Limited Contingent liabilities not provided for as on March 31. On further appeal.84 lacs. of Income Tax Gagan Trading Company Ltd. Jindal Saw Ltd. On appeal. Disputed tax demands Rs. 159. The ITAT. Versus Comm.92 - . 567. Assessing Authority Trade Tax Vs. Mumbai for Hearing Assessment Year 2000-01 592. Assessment Year 1997-98 and 1998-1999 Addition of notional interest on security deposit received while computing income from house property and the disallowance of interest. Versus Comm. On appeal. 578. Mumbai has decided in favour of the Company. However. of Income Tax ITAT. property of the company. ITAT. (8)(b) of the Wealth Tax Act of the 184. Jindal Saw Ltd.42 lacs. Dividend on preference shares Rs. the CIT (Appeals) has decided the matter relating to the addition of notional interest in favour of the company. b) The company has lost the case of misappropriated shares for 600 equity shares of Jindal Strips Ltd. Current Status of Tax Demands Gagan Trading Company Ltd. Rs.584 has not been acknowledged as debts in view of misappropriation of shares of the company.08 lacs Addition of notional interest on security deposits received while computing income from house property and disallowance of interest. Supreme Court of India This matter relates to the applicability of Form 3 B and C.

The demand had arisen due to disallowance of loss on renunciation of Rights shares.25 lacs.) Facts Writ Petition No. 8090 of 2003 Gagan Trading Company Ltd. 1 The demand had arisen due to disallowance of set off of brought forward loss of earlier year. The Company is in the process of filing an appeal to the CIT (Appeals).92 Lacs Addition of notional interest on security deposit received while computing income from house property and the disallowance of interest. 2004 pertained to dividend on preference shares (pro-rata) amounting to Rs. which is yet to be decided. Parties Pending Before Subject of the Matter Amount Involved (Rs. 2004.56 Lacs (12) • • Vrindavan Services Private Limited Contingent liability not provided for as on March 31. 20 lacs. there was a default relating to interest on OCDs amounting to Rs. 2 1993-94 Rs. The Company is in appeal to CIT (Appeals).431. of Customs issued a notice under Central Motor Vehicles Rule 126A for nonsubmission of homologation certificate.93 - .111 Lacs as detailed below : Assessment Year & Amount of Demand 1991-92 Rs.Information Memorandum Assessment Year 2002-03 Rs. As on March 31. which is yet to be decided. 20. Versus Union of India. the CIT (Appeals) upheld the Assessing officer’s contention. The Company is in appeal to Income Tax Appellate Tribunal. Current Status of Outstanding Litigation Case No. No. The petitioner filed this writ contending that the same was not required. Contingent liabilities not provided for as on 31-03-2004 related to Disputed Income Tax Demand of Rs. Ltd.54. (13) Reynold Traders Private Limited . 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.29 Lacs Details & Current Status Sr.56. On appeal. Director General of Foreign Trade (DGFT) and Comm. (11) Sun Investments Pvt.

76 36.20. 199899 3. Jindal Steel and Power Ltd. 199798 2. No. Products produced Rs. Vs. Jindal Steel and Power Ltd. The company has already deposited a sum of Rs. 42.000/.Y. (B) Promoter Group Companies (1) Jindal Steel & Power Limited Contingent liabilities not provided for as on March 31. 1.30. 2000 the Dept. Vs.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.against the amount demanded.340 for the A. 46. 2004 are in respect of : Sr. .20 5.28 Sales Tax Matters: Sr No Parties Pending Before Subject of the Matter Amount Involved (Rs. Board of Revenue Surcharge imposed and less set-off allowed Rs.58.58 7. Board of Revenue Denial of benefits for New/Addl.) Facts 1.000/. 4.38 14.against the amount demanded. 20002001 The Company has been denied benefits on its new/additional products manufactured by it.02 208. Vs. Board of Revenue Denial of benefits for New/Addl. Products produced Rs. Rs.Y.946 for the A.75. By an Order dated April 29. The company has been denied benefits on its new/additional products manufactured by it. The company has already deposited a sum of Rs.for the A. State Sales Tax Dept. Crores 459. State Sales Tax Dept. a demand of Rs. The Company has already deposited a sum of Rs. 6. The Company is in the process of filing an appeal to CIT(Appeals) against the order.94 - .Y. Jindal Steel and Power Ltd.000 against the amount demanded. State Sales Tax Dept. 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. 82.Information Memorandum Income Tax Demands For Assessment Year 2000-01.396/. has passed an Order in the favour of the company.

1.55 crores 2. Other Excise Matters Case Ref.45 lacs The Dept. V(CH86)15264/R/P R/JC/200 4/ADJ/51 88 Comm.05 . Amount (Rs) Pending Before Description of the Case Present Status 1993 179.00 crores under protest.400 2300 37.10.03 stock and physical stock taken by the department.1998 after the Finance Act amendment in 2003. The Department has imposed duty on Ladle Transfer Car by treating it as an item falling under heading 86 instead of 84. Chattisgarh Payment of Duty 1. The company has paid an amount of Rs.1.03 ** PH goods relating to power plant 5.03 installed within the factory This case relates to service tax Reply sent on GTO service 01.012 Cenvat Credit on capital Replied on 14. Jt. 3949 1.06.7*27. Comm. Cenvat Credit on capital Replied on 11.12 .874 2661 483. The matter had been appealed in the CESTAT by the company against the Order passed by the Comm.697 1658 3. Comm. A case of difference of book Reply sent ON 29..03 **PH goods relating to power plant 25.12*Adjourn 28. 2000.12.1998 to 17. goods. Modvat credit on capital PH over on 20/2/2001.02.177.95 - . Asst Service tax on the services of Reply Sent 27. 1998 to March 31. the modvat Replied on 4/7/96 – No PH document does not appear to be genuine.04*ph Commisioner M/s NKK Corporation Japan 18.9. The company has already deposited the amount.03. Parties Pending Before Subject of the Matter Amount Involved (Rs.697 Asst Commisioner Excise Asst Commisioner Excise Asst Commisioner Excise Asst Commisioner Excise Asst Commisioner Excise Asst Commisioner Excise To the department.) Facts 1.03 installed within the factory. Jindal Steel and Power Ltd.11.772 9053 381.Information Memorandum Central Excise Matters Sr No Case No. Writ Petition Jindal Steel and Power Ltd. has imposed a duty of on two (2) Induction Furnaces for the period April 1.11.220. of Central Excise High Court.7.679 1287 241. of Central Excise Vs. Raipur Classificati on for imposition of duty 7. Vs.

Remission of duty PH held 22.840 that we have taken in Japan itself (off shore service).4. Cenvat credit as inputs on Reply sent . CEGAT allowed modvat DEPT.8.04 on some old and used goods from factory to Nalwa Sponge.417 3955 15.644 1005 Add. which stands in our favour.12.7.037.058 1303 1.03 Graphite Electrode as inputs. Department proposes to Reply sent on 30.11.10.451 23446 717.05 Engineering Company of Germany.31.131.042.02-NOT HELD against order of CEGAT. Department has filed a Dept – Appeal – HC – PH petition before High Court 4. Cenvat credit taken on Reply sent on 11.2004 rails and concrete sleepers and allied goods used in the factory This relates to demand of duty Replied on 10. Jumbo Electric Platform truck as inputs and Ladle transfer car as capital goods. Commissioner Excise Add.756 Appealate Tribunal Raipur High Court Bilaspur 1077 43. This case refers to deficiency OIO Received – full in the document of the Disallow –Appl to be filed supplier of the goods.05*ph Study (Audit) by an 18. Commissioner Excise 492 4.03. Dept disputes that this item would be capital goods .593 Asst Commisioner Excise Add.002.832 Add.4.2.96 - . Commissioner Excise 4169 4.04 include the amount of volume discount on freight availed from Indian Railways in the assessable. Service tax on GTO service Replied 22.04 transport vehicle.259 1489 2.Information Memorandum Excise 4558 473.702 20755 2. Ref APPL – High credit on refractory materials Court to us.9.01 * WRIT for 1.726.297.2.000 Add.6. Commissioner Excise 21164 4.02 denied by Commissioner.527. Cenvat credit as inputs on Reply sent on 20. Cenvat credit on Hot metal Reply sent on 1. Sponge iron burnt in the year CEGAT Remand to CCE 2000.5.061 Chief Commissioner Excise 346.98.98 to 1.3. This is to be reversed. Cenvat on explosive used in Replied . Service tax on Engineering reply sent on 28.606 High Court Bilaspur 19103 2187 Chief Commissioner Excise 6. Commissioner Excise Add.04 coalmine. M/s HPCL.96.2. The matter has been referred to High Court.05 concrete sleepers and allied goods used for laying railway track in the factory. Commissioner Excise Add. Commissioner Excise 27. We have HC BSP also filed a writ petition before High Court.

).50 lacs (approx. 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.Y.011. 3) The Gram Panchayat has served a notice upon the company imposing Local Body Tax of Rs.Y. Excise 981. No.Information Memorandum 953 3.Y. 1.4.PH held Commissioner Graphite Electrode as inputs. in Crores 34.03.938 Appealate Cenvat on explosive used in DEPT APPEAL ** PH Tribunal Delhi coal mine.97 - .06 5. Departmental 5. 4) The company has been served with two (2) Show Cause Notices from the Commissioner of Central Excise.79 5.21 127. 0.319.2004 are in respect of : Sr.).39 lacs (approx. (2) Jindal Stainless Limited Contingent liabilities not provided for as on 31. 7.05 *4. 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. 3. The company is disputing the levy.104 3081 4576 2623 APPL*PH Appealate Classification of steel DEPT 09. 3.1.03.) against which the company has already deposited an amount of Rs.05 Tribunal Delhi components/accessories (Chapter 84 vs Chapter 73) fabricated within the factory for captive use. 1999-2000.745 Joint Cenvat credit taken on Reply sent. 2) There are Central Sales Tax matters pertaining to A. The aggregate amount demanded is Rs.05*29.4.31 Civil Matters: .26 3. 8. This is to be reversed.-20/9/94-NO PHCommissioner credit on capital goods.32 lacs (approx. 592.05 appeal pending in CESTAT. 66. Raipur for an amount of Rs.93 254.13 lacs (approx.) 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.323 Joint Dispute relates to modvat PRE-OBJ.511.74 lacs (approx. 2000-2001 and A. which in aggregate amount to a demand of Rs. A.) against which the company has already deposited an amount of Rs. 17/7/02 Excise Dept disputes that this item would be capital goods Notes: 1) There are some Entry Tax matters filed against the company.

259/on account of the services provided by goods transport operators i.) Potential liability of USD 4.48. 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. Facts Haryana Vidyut Prasaran Nigam Limited (HVPNL) Vs Jindal Stainless Ltd. Writ Petition No.71. yd. KBC Bank N.44. subsequently. V.606 of 2002 Jindal Stainless Ltd. Hisar had made a demand for development charges in respect of a club constructed by Jindal Stainless Ltd.98 - . New Delhi Subject of the Matter Suit dismissed as infructuous.6. filed the present suit for declaration that it is not liable to pay any amount under the L/C and also for a Permanent Injunction restraining ICICI Bank from making payment of the L/C amount to KBC Bank N. Civil Court. However. was the negotiating Bank. Jindal Stainless filed an Appeal in the Delhi High Court challenging the order of dismissal of the suit. Stainless V/s. Hisar LAND 15. HVPNL cancelled the allotment.5 Acres of land from HVPNL which is situated between its two factories.11. Excise and Service Tax Matters 1. Jindal Stainless Ltd. 120/per sq.1998 Rs. Vs.163 The Excise Department has levied Service Tax @ 5% on Rs.in favour of Surya Impex.00. filed a suit for specific performance and obtained a decree in its favour. 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. V.Jindal Stainless Ltd. Amount Involved (Rs. The Municipal Corporation. 49. 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. Jindal Stainless Ltd.Information Memorandum Parties Pending Before High Court. Supreme Court of India Service Tax . New York Branch And Surya Impex.For the period 16.V.000/- Municipal Corporation (Hisar) Vs Jindal Stainless Ltd. Hisar for Hearing Development Charges Upon instructions of Jindal Stainless Ltd.23. had acquired 2. KBC Bank N. in its factory premises @ Rs.500/alongwith interest.48. Union of India & ors. 9. Jindal Ltd. on account of the freight paid for the .1997 to 1.e. ICICI Bank opened letter of Credit of US$4. Civil Court. V. ICICI Bank KBC Bank N.500/.

November and December.71. Jindal Stainless Ltd. 49. 1996. electric items. The company has paid the amount of Rs. Before Central Excise.Information Memorandum 2.163/under protest. 1995 June. 1996. 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. The company replied to the Show Cause Notice and Asst.99 - .6.1997 to 1. Commission er. Appeal/Delhi – III/45/2001 Central Excise Commissioner Vs. 1996 Rs.14. A/380387/2001 – NB(D) (Eight Appeals) (Northern Bench) Commissioner of Central Excise Vs. 1996 to March. Jindal Stainless Ltd. Being aggrieved. 1994 January. Gurgaon Modvat Credit on capital goods For the period April. Refractory items etc. 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. Rs. Commission er (Appeals). 57.998 period from 16. 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. Rohtak for Hearing For the period September.1998. 1996 to July. 1995 to May.11. the Department . The Department has levied Modvat Credit on capital goods namely electrical goods.188 (in all Eight Appeals) 3.05. 49.

Delhi Modvat Credit Rs.000/- 6. 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.003/- filed Appeal before Commissioner (A) and the same is pending.33. Jindal Stainless Ltd. The Department has levied Modvat Credit on capital goods namely Wires and Cables. 19. Commission er (Appeal). The Department has levied Modvat Credit on capital goods namely Refractories and Refractory items.100 - .69.000/- 5. 21. No.Information Memorandum 4. High Court. 2004 to June. 2004 Rs. The case was held against the Department and subsequently the Dept. - Show Cause Notice C. The Company filed a Reference Application before the High Court against the order of CESTAT on Capital goods namely: Brass Casting Articles. Jindal Stainless Ltd. Gurgaon Rs. 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. - Central Excise Commissioner Vs. IV (HQ)361/Tech/Jind al/D-V/04/14357 dated 28. 1944 for its opinion vide an Order dated November 9.06. Rohtak Commission er of Central Excise. The Department has alleged that the company is supplying power . Rohtak Modvat/ Cenvat credit For the period January.12. - Central Excise Commissioner Vs. 2000. filed an Appeal before the Commissioner (A) and the same is pending. 78.2004 issued by Commissioner of Central Excise.

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.58. New Delhi Amount . 3.23.ITAT.719/.161 Forum where dispute is pending CIT (Appeals). New Delhi (4) Renuka Financial Services Limited Non-payment of dues is as follows: Name of the Statue Income tax Act. Non-payment of dues is as follows: Name of the Statue Income tax Act.636/-. 1961 Nature of the dues Income tax demand Amount (Rs) 80.748.Information Memorandum only to SEB and therefore not entitled for Modvat/Cenvat credit of the duty paid on the fuel used for generation of power for selfconsumption. 1961 Nature of the dues Income Tax Demand Forum where dispute is pending 1.45. 12. 1961 Nature of the dues Income tax demand Amount 10. (6) Brahmputra Capital And Financial Services Limited Non-payment of dues is as follows: Name of the Statue Income tax Act.101 - . 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.869 Forum where dispute is pending ITAT.81.

Information Memorandum (7) Gagan Sponge Iron Private Limited Contingent liability not provided for : Arrears of Cumulative Preference Shares dividend Rs.220) (8) Opellina Finance & Investment Pvt. The Company has filed an appeal to CIT(Appeals) against the order. 2004 related to disputed Income Tax demand for Rs.15. (13) Sapphire Technologies Limited Income tax Demands For Assessment Year 2002-03.55. (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.70 lacs. 197.92 lacs.71.15 Lacs has arisen due to recomputation of Capital Gains considering a lower purchase cost by the Assessing officer.22 lacs.43 lacs has arisen due to recomputation of Capital Gains considering a higher sale value by the Assessing officer.(Previous Year 28. The Company is in the process of filing an appeal to CIT (Appeals) against the order. 1. . On appeal.62 Lacs has arisen due to disallowance of Website Development expenses incurred by the Company. a demand of Rs. For Assessment Year 2002-03. 41. The Company has filed an appeal to CIT (Appeals) against the order. a demand of Rs.32 lacs.23. 2004 relate to Income tax demand disputed in appeal pertaining to assessment year for Rs. The demand has arisen on account of add back of interest payable amounting to Rs.3. On appeal.102 - . Ltd.3. The Company is in appeal to ITAT and the matter is pending. which the Assessing Officer had treated as no longer payable.15.032/-) (9) • Baltimore Trading Private Limited Contingent liabilities not provided as on June 30. (11) • Musuko Trading Private Limited (MTPL) Contingent liabilities not provided as on June 30.750/. The demand has arisen on account of interest disallowance by the assessing officer. a demand of Rs. 81.085. Contingent liability not provided for : Arrears on fixed Cumulative Dividend on preference shares Rs.(Previous Year 24. the CIT (Appeals) has upheld the disallowance. • (10) Kamshet Investments Private Limited Income Tax Demands For Assessment Year 2002-03. 10. 1.915/. the CIT (Appeal) has deleted the addition and the matter stands decided in the Company’s favour.

JTPCL filed an . Outstanding Litigation Sr. 10890.103 - . JPTCL entered into a Power Purchase Agreement with KPTCL in November.95 lakhs. 1 Case No. 14449. 2000 for supply of power. Security provided to Banks/Financial Institutions by way of pledge of shares of Jindal Vijayanagar Steel Limited (JVSL) against credit facilities extended to JVSL for Rs. 573. Claim by a Financial Institution against the Company disputed by the Company (Power Finance Corporation Limited) on the ground that the same is not due in terms of the loan documents and not acknowledged as debt of Rs. No. 2004 1. of Karnataka had granted permission to JTPCL for selling power directly to industrial units and the balance to KPTCL. (JTPCL) The Govt. 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.23 lakhs. net of Rs.30 lakhs. 24. 2.72 lakhs claimed by the Company towards rebate for prompt payment on another loan from the same Financial Institution. 1999. Parties Pending Before Supreme Court of India for Admission Subject of the Matter Modification of Power Purchase Agreement (PPA) Amount Involved (Rs.Information Memorandum (14) Jindal Thermal Power Company Limited Contingent liabilities not provided for as on March 31.) Nil Facts Karnataka Electricity Regulatory Commission (KERC) Versus Jindal Thermal Power Company Limited & Ors. JVSL has provided security in favour of the Company’s lenders by way of pledge of their investments in the shares of the Company for Rs. Similarly. Pursuant to Karnataka Electricity Reforms Act.

Karnataka High Court. 1. KPTCL has filed this appeal before the Supreme Court against the Order of the Karnataka High Court. sales tax. income tax and other levies (excluding interest) Rs. accident at the COREX-I site in July 2002 and compensation claims aggregating to Rs.e. 3.01 149.) Facts appeal against this order before the Karnataka High Court. No. 2. in crores 5.7 lacs. Parties Pending Before Subject of the Matter Amount Involved (Rs. which set aside the order passed by KERC. 55 lacs with the Court. No. Tax Matters 2. Jindal Thermal Power Company Limited (JTPCL) Versus The Deputy Comm. Particulars Claims against the Company not acknowledged as debts Bills discounted Disputed claims including those pending in Courts for excise & custom duties. 2005: Sr.Information Memorandum Sr. Bangalore for Arguments For the Assessment Year 2001-02 & 2002-03 0.81 487. .104 - .71 crores i. (15) Jindal Vijayanagar Steel Limited Contingent liabilities not provided for as on March 31. Case No. 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.84 Labour Cases There are six (6) labour related matters against JVSL for issues such as dismissal from employment. levied interest u/s 234B and 234C of the Income tax Act. An interim stay has been granted in favour of JTPCL upon depositing Rs. the Net Tax Liability (after adjusting refunds and payments) The Tax Dept. 4. of Income Tax & Anr.

Dvn) & JMFC. Yarabanahalli Vs The General Manager (A&LA). as we have paid the ex-gratia to Shri.4/2005 Smt. Bellary High Court of Karnataka 200000 300000 O. LAC No. 3111/2002 Addl.. Sandur 210000 Since there was a dispute between the parties. Bly & JVSL JVSL Vs Smt.S.Bheeman Gouda and Sri. JVSL is a debtor of Bellary Steel and has been served with a garnishee notice for an amount of Rs. Civil Judge (Sr. 16 / 2000 @ 91 / 2002 Parties Uppara Hanumanthapp a & another Vs Asst.Nos. JVSL is one of the respondents Debt Recvery Tribunal.The Trial has Commenced in the court.000) to herself. Commr & LAO. Rs. Rudramma.J. 3109/2002. Bellary.P. Original application No. The plaintiff is claiming 100% ex-gratia (i.Dvn) & CJM.e. The parties have gone on appeal for enchancement of compensation against the land acquisition-Trial going on. Bly & JVSL Gavisiddana Gouda Vs Asst.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. LAC No. 200000 Status The parties have gone on appeal for enchancement of compensation against the land acquisition-Trial going on. Commr. which were their during the acquisiton of landTrial going on.10. Hosagerappa of Kudithini based on the orders of Asst. Recovery of loan with interest Amt.190/03 Writ Petition 10713/200 4 SBI & others VS Bellary Steels & Alloys Ltd & others in which JVSL is one of the respondents. RoranagalluL Civil Judge (Jr. 30. Jindal Vijayanagar Steel Ltd. Civil & Other Cases Case No. we have paid the ex-gratia as per the orders of Asst. Civil Judge (Sr. Bellary Steel has filed the Writ Petition to Stay Income Tax Department Notice reopening the assessment for the Assessment Year 1997-98 .Commr. Bellary who is the Revenue Authority. Commr & LAO.Dvn) & CJM. 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. 2. K. 3110/2002.17 crores The matter has been filed by banks seeking various sums from Bellary steel and others. Bellary Steels & Alloys Ltd Vs IT Dept. The petitioners have filed a case for compensation for the tamarind trees.60 lacs. 17 / 2000 @ 92 / 2002 C.R.27 lacs. Bangalore 3006000+ interest High Court of Karnataka for hearing Reopening of Assessment by the Department 2.Gouramm a/ Shri.Shankar Reddy Pending before Addl. 30.105 - .

The Claimant was required to supply certain quantity of limestone to JVSL under a contract.P. 60000Ex-gratia to be paid by the co. 1. 538 of 1999.106 - .. No. Village Vaddu Name of the Ex-land owner Dodda Thimmana Gouda. Bellary has initiated criminal . Vs.17 crores The High Court has granted stay against the notice of the IT Dept. The Claimant has filed this matter for the demurrage for the delivery of the limestone at the Goa Port. Toranagallu 361 D(p). The Plaintiff has in 2002 made an application for reinstatement of the suit. Due to the variance in the size of the limestone. JVSL London Court of International Arbitration for filing Pleadings Demurrage Charges $ 57. the limestone was found to be of a different size than the one desired by JVSL.Information Memorandum Civil Suit No. & Ors. JVSL Calcutta High Court for reinstatement of the suit earlier withdrawn Shares 5. S. 365 E Kurekuppa Criminal Cases Sr. NO.311. Bellary Amount Involved (Rs. Bangalore Subject M at t er Corex Accident W. S. 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. K. Parties Pending Before High Court of Karnataka. 8350Ex-gratia to be paid Claimant expired. No. G..A.Devanna 34800Ex-gratia to be paid by the co.family dispute not received. Case No. Sanna Thimmana Gouda Amt. Other Ex-gratia matters/cases List of ex-land owners to whom the payment of ex-gratia is to be made.P. On receipt of the consignments. Remarks 323 C / 1 Kurekuppa Chikka Basappa.450 (for cost and interest for demurrage) and claiming Rs. 7B(p). 3352 / 2002 JVSL Vs Dy. No.) -- David James & Sons Vs. The Plaintiff thereafter withdrew the suit in 1999. 1 C(p).) Nil Facts The Dy. 2. the calcinations process in the lime calcinations plant was not to expected level.90 crores (approx.P.family dispute not received.45 (for dispatch earned & interest) and $ 118. 1880 of 2000 Mewar Growth Ltd.

Information Memorandum Sr. based on the Complaint filed by one employee Mr.107 - . 38526/2003 Mr. No. The Police have registered a case against the Jt. Saini. Toranagallu High Court of Karnataka for Trial Discrimin ation under SCST Atrocities Act Nil 3. CRLP No. Toranagallu thereby prohibiting the Police from further investigating the matter in Lorry accident matter which happened near the RM gate wagon un-loading area in which 2 workers had lost their life. R. M. in Lakhs) Status . C. JVSL Vs The SubInspector of Police. No 700/03 JVSL Vs The State by SubInspector of Police. Case No.) Facts 2. G. P. Details Value (Rs. Stay Order has been obtained by JVSL thereby prohibiting the Court from proceeding any further in the matter. 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.K. 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. No. 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.K. A Stay Order has been obtained by JVSL against the Sub-inspector of Police. V. Parties Pending Before Subject M at t er Amount Involved (Rs.

00 Based on the order passed by the Commissioner (Appeals). issued by the Central Excise and Customs Authorities : . Customs & Excise (Down Stream SBU): The status of various show cause notices / demands. Levy of differential duty on scrap: Goa Customs: Lakhs Rs. Bangalore. 2.18 4.150 Crore received by JVSL from JISCO.05 SCNs-VII. Show cause notices for demand of excise duty on sale of Corex gas supply to JTPCL / JPOCL.740. VIII & IX: awaited Order is SCN-X not yet issued by the dept. Input credit on Corex chilling: 62.5. 3. 4851.00 1103. material in nature. The final hearing is scheduled on 19.05. • • • • • SCN-I : Order is awaited SCN-IV: Order is awaited SCNs-V & VI: Final hearing is scheduled on 20.363. Demand of duty on refractories and lock hoppers of Corex-I. DRI Case – II – Demand of additional customs duty on warehoused goods.00 Appeal before the High Court of Karnataka has been filed.5. 104.37 The Tribunal has already stayed the order passed by the lower authority.4. Response is awaited from Chennai Customs. The final hearing will be held on 27. Chennai Customs: Rs. 7.05.05. Input credit pellets. Met-coke import: CG given for Anti Dumping Duty (ADD) 908.5.40 The Tribunal has already stayed the order passed by the lower authority.00 Lakhs 8. The final hearing is scheduled on 19.90 The Tribunal has already stayed the order passed by the lower authority.04. on Highgrade 47. our Stay-cumappeal has been filed before the CESTAT. Demand of additional interest charges on warehoused goods 9. 4920. The final hearing was held on 04.00 Pending before the Supreme Court of India.Information Memorandum 1.00 5.04. 23. Final reply submitted. Bangalore. 10.99 Appeals pending before the CESTAT / Commissioner (Appeals). The Tribunal has already stayed the order passed by the lower authority.05. Duty on interest free advance of Rs. 6. The Tribunal has already stayed the order passed by the lower authority. PH is awaited in May’05.108 - .05. The final hearing is scheduled on 11. PH is awaited. Order is awaited.

01. Appeal pending for hearing before the Appellate Tribunal. No. Further. 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.20. Description Amt. (Rs in Lakhs) Status 1.89 Appeal pending for hearing before the Appellate Tribunal.78 lacs A demand was raised by the CST Dept. contingent liability of Rs. 47. Disallowance of Cenvat credit availed in respect of furnace oil used in captive power generation. 85.e. 10.2005.f. 3.23 Reply to show cause notice filed – Nothing further has been heard. Imposition of penalty under Rule 209A of the Central Excise Rules. 5.) 1.00 Appeal pending for final hearing before the Appellate Tribunal.Information Memorandum Sl. The Forms have now been submitted and a revised order is expected.89 Rs. 6. No. 2. 2.109 - . Income Tax (Up Stream SBU): . on account of not furnishing Form C and Form F. 18.04 under Special Entry Tax Act-2004. for which the Company obtained stay from the High Court of Karnataka.75 Reply to show cause notice filed – Pending for hearing.79 Amount debited under protest. Withdrawal of DEPB Benefit on account of difference between the declaration in shipping bill and physical examination of goods. Sales Tax (Down Stream SBU): Sr.36 Reply to show cause notice filed – Pending for hearing before the jurisdictional commissioner.269 lacs (approx) is provided on account of new levy imposed by Karnataka Government w. of CST Vs JVSL There are no cases pending in respect of Sales tax & Entry tax for the period ended 31. 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. 7. 1. 50. 0. (Rs in Lakhs) Status 1.00 Appeal pending for hearing before the Commissioner (Appeals). Comm. 4.23 Appeal pending for hearing before the Assistant Commissioner of Sales-tax (Appeals). Sales tax liability on account of nonsubmission of Form F in respect of branch transfer.03. Details Amt. Appeal pending for hearing before Tribunal.10.30 lacs have been debited under protest.

Description Usance Interest in Rs. 2.775 Income Tax (Down Stream SBU): Sl. Penalty levied u/s 271(1)(c) in respect of addition made in the assessment order passed u/s 143(3). 2 Appeal to Karnataka High Court against order of Income Tax Appellate Tribunal for Assessment Year 1995-96. The Income Tax Department has filed an appeal before Karnataka High Court against order of Income Tax Appellate Tribunal.Information Memorandum Sr.79 Service Tax (Up Stream SBU): Sr. 10. 134.96 Appeal being filed before the Commissioner of Income-tax (Appeals) 2036. 10.41 Appeal being filed before the Commissioner of Income-tax (Appeals). Status 1. interest disallowed u/s 14A and additions made to Book Profit in respect of provision for doubtful debts and advances. No.50. as there is no question of law is involved. (Rs in Lakhs) Status 1. unutilised modvat credit. Payment made other Bank called by Dept. 201(1A) for demand of withholding tax on usance interest received from income tax department 6.42 Appeals pending for hearing before the Commissioner of Income-tax (Appeals) / Appellate Tribunal. interest receivable written-off. No.110 - . Recently the tribunal decision has been reversed by High court.w. Status . is in respect of usance interest paid through ICICI on usance LC. Company appeal for assessment of interest under the head Business Income as against Other Sources. amount transferred to lease equalisation.97. provision for diminution in value of investments etc. Total 1891. based on facts. reduction of depreciation as per Income-tax on slump sale. No. 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. Details Value in Rs. 3. Additions / Disallowances made in the assessment orders passed u/s 143(3) to Normal Income in respect of Surplus on repurchase of own debentures. Notice of penalty u/s 202(1) r. The High Court may not frame a question for reference. JVSL has replied penalty notice denying the liability relying on High court and Tribunal decisions.s. Description Amt. interest & other expenses capitalised in books.99. The Tribunal has allowed.618 The demand made by Dept.

The hearing has been completed on 17. Bellary and the order is expected at any time. JSAL removed goods under Form AR. USA (Rs. The Customs Dept issued a show a show cause notice upon JSAL stating that the benefit of the notification was not available . Mangalore in respect of VAI & Amet.81.19 lacs imposed by the Custom Authorities in FY 1997-98 for wrong removal of imported equipments from the bonded warehouse. the final assessment is still pending. Based on the orders passed by the AC.Information Memorandum 1. Penalty imposed by SEBI/Other Regulatory bodies • • • Fine and penalty of Rs. The Department wants to include the interest charged in invoice in Assessable value and as consequence of this demanded duty on interest charged in invoice.4A and declared that it has not avoided input stage credit. 1. has given show cause notice for payment of duty of Rs.Ex. The remaining eight notices have already been decided in favour of JVSL. 758. Austria (Rs. : JSAL supplied some steel strips to some companies for further export. Show cause notice has been received for duty demand on Interest charged in Invoice raised. 7. Penalty of Rs. Custom Matters Custom Duty – Custom dept. Penalty of Rs. Bellary appeals have been filed before the Commissioner (Appeals).. 37.42. (16) Jindal Steel & Alloys Limited Outstanding Litigations: Excise Matters Dispute on demand of duty on Interest charged in Invoice raised by JISCO: Rs 21. In the case of Alsthom Power.368 Replies to the notices have been submitted by the advocates on behalf of foreign parties. 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. C. For provisional assessment of consignment sales made.1.34 lacs. Service Tax Authorities have demanded service tax on consultancy services rendered by foreign parties namely.111 - . the hearing is completed on 24.975261) and Alsthom Power.Ex. Russia (Rs..27 lacs levied by BSE in FY 1998-99 for belated intimation of Book Closure dates.Rs 2. The Final hearing is awaited.2005 at C. JSAL imported the consignment duty free under a notification. 500 by Excise Authorities in FY 2003-04 for wrong claim of CENVAT.2005 at Mangalore and order is expected.50 lacs.1..71216321). VAI.2089786) during implementation of the project. Bank Guarantee provided to Excise Dept .21 Lacs plus penalty of Rs 37 lacs. Amet Ltd.

Rs. the same has been reflected as a contingent liability. 35.557 Special Additional Duty: Rs.05. .07.65. Rs 440000 has been deposited on 5/10/2004. which may become due to the Company. 2001-02. which has been filed being rejected.36. 67. Litigation. 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.Y. the Company had the following contingent liabilities: i. A stay application has been filled by JSAL against the show cause notice. 31. The matter is pending before the Divisional Office of Central Excise.945 which has already been paid will also be refundable.19.00. no credit has been taken for this refund.19. 67.employee Mr. 3. 2004.68.60 lacs An ex. 3. 3.093 from the Customs Department.112 - . due to non-receipt of official order.07.44 Lacs for non-production of documentary evidence showing import of goods against remittance of Rs 4467512 under Sec 8(3) of FEMA.65. 0. The Company has replied to the show cause notice and has also represented at the time of hearing.46. Disputes etc. (17) Southern Iron And Steel Company Limited (SISCOL) As on December 31. which has already been filed. The Company has subsequently received an adjudication order from the Commissioner of Customs demanding interest of Rs. The outstanding amounts have since been paid and with this the above show cause notice has been settled. A sum of Rs. Civil Matters . 1352972 was paid to the Income Tax Department on basis of Assessement completed for A.000. As against the demand for customs duty of Rs.36.950 No provision has been made for these amounts in this account.65. However.Information Memorandum and demanded the payment of duty along with penalty.340 and penalty and fines of Rs. 4. the duty amount of Rs. ii.e. However. Income Tax Matters Rs. If the bill of entry. 1.82.944 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.093 which the Customs Department has asked the Company to pay is payable contingent upon the bill of entry.311 Differential duty: Rs. 4. Other litigations The Special Director Enforcement has imposed a penalty of Rs.07. the Company has filed an Appeal against the Assessement Order.944 and interest of Rs. Sanjay Sharma who was sacked for irregularities in his workings has filled a suit against the Company for his reinstatement as an employee. An amount equal to 10% i. is accepted. the Company has paid the entire duty amount of Rs.

844 in the execution application filed against M/s Simplex Engineering. 1. The final hearing is awaited. 697/1996) have obtained a decree and have applied to the court for garnishee order to the extent of Rs. The Company has made provisions of Rs.549 lacs per annum effective from 1993. 2004. As the Company owed Rs. 1. 16.57.35.92 plus interest against two companies viz.77.099) being arrears of peak hour charges for the period July 2003 up to August 2004. M/s Indo Fab Engineering ("Indo Fab") have obtained a decree of Rs.03. The Company is representing to TWADB for charging the originally agreed royalty of Rs. Ltd and M/s Simplex Engineering. 94.90. Pending final hearing of the writ petition. a provision of Rs. Tamilnadu Electricity Board by a demand notice dated October 11. By an order dated November 02. 1998 from Executive Engineer. 54. The Company received a letter dated October 15.199 in ten (10) equal installments and granted an order of interim stay in respect of the demand of surcharge. 76. 3. 16. However.05. The Company is in the process of filing an affidavit.30.89.00. 3 lacs per annum and the matter is pending. 2. the Company has made a provision of Rs.05.77.734.054. 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. 3 lacs per annum. TWADB stating that the royalty charges have been revised to Rs. i. 2004 from the Superintendent Engineer. The Company is in negotiations with the Public Works department to reach a settlement.77.00. 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. 2004 towards payment of these dues. CP no.Information Memorandum The Company had received a letter dated January 24. 2003 on power generated by generator or the captive power plant. A winding up petition under Section 433 and 434 of the Companies Act.113 - .221 in its books of accounts.35. Indo Fab has taken out garnishee order/attachment order in case no. However. the Madras High Court permitted the Company to pay peak hour charges of Rs. the Judgment Debtors in the Trichirapalli District Court.900 has been made in the accounts for the increase in the charges.95 crores in its books of accounts till December 31. The Company as gone on appeal before the Division Bench of the Madras High Court.000 to M/s Simplex Engineering.199 (without the surcharge) in twenty (20) equal installments. Mettur Electricity District Circle. Writ petitions had been filed by the Company against the Tamilnadu Electricity Board in the Madras High Court contesting the levy of Electricity Tax. Mettur Dam for payment of outstanding dues of Electricity Tax for the period February 2002 to December 2003. . A demand has been made on the Company by the Public Works department. 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.30. 11. 1.000.00. M/s Eastern Metallurgical Equipments Pvt.30. 2003. 2. Madras High Court has dismissed the Writ Petitions.35. The Company had filed Writs Petitions in the Madras High Court challenging the levy of belated payment surcharge of Rs. OS700/96 to the tune of Rs. Further. 1956 has been filed in the Madras High Court for default in payment of Rs. Indo Fab.099. 25. The Company filed a writ petition challenging the provision of The Tamil Nadu Electricity (Taxation on Consumption) Act.e. 204 of 2004). The Company has filed an affidavit disputing the claim in the before the Court (case no. 2004 has demanded a payment of Rs1.221 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.As per the said Act and the rules framed thereunder. Government of Tamilnadu for Rs. the Company also requested that it be allowed to pay the peak hour charges of Rs. in another case (OS No.89.199 (inclusive of belated payment surcharge of Rs. 31.

114 - . Rescheduling of redemption of debentures Partial Option Convertible Debentures (POCDs) of face value Rs. payable half-yearly in September and March. 1995 Balance amount of Rs. 12. 1998. have included the Company as a party to the suit as the Company is principal employer.65. However. in November 2004 for default in the payment of Rs. A resolution was passed in a general meeting of debenture holders convened on February 25. 329 of 2004) against the Company. Debentures to be redeemed in 5 annual installments of Rs. debentures on which option to convert into equity is not exercised.Information Memorandum The Company had received a notice under section 433 and 434 of the Companies Act. 6 each. to reschedule redemption of balance 4 installments. 70 with a compulsory conversion of Rs. 2000 onwards. The second installment for redemption of debenture due on May 17. on or after May 17. The Deputy Commissioner of Labour has referred the dispute to the Government of Tamilnadu for settlement as an industrial dispute.e. starting from May 17. the Company was not in a position to pay interest due for the period October 1. claiming employment in the Company. 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. 30 to be treated as an Optionally Convertible Debenture (OCD) with an option of conversion into 1 equity share of face value of Rs.29 lacs respectively. The Company has replied to the notice disputing the above claim. 2000) was done by the Company except for the pending amount as stated below. 40 into 2 equity shares of Rs. The first redemption of Rs. has filed a case in the Labour Court. demanding award of a labour contract to a particular group of land-dispersed persons. After May 17. engaged by an executive of the Company. 2000. Civil cases One of the land dispersee has filed a case in the Court of the District Munsif of Mettur (case OS no. 81. Employees of a labour contractor. to carry interest of 15% p. 10 each at a price of Rs. ID 106/2002) against the Company. 2002.356 plus interest thereon. Labour related cases A driver in casual employment. symbolic possession has been given to the Company for 105 acres only. claiming wage revision from the labour contractor. 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. 1998). 70 were issued by the Company in March 1995 as per following terms mentioned in the prospectus: • • • • Face value of Rs. Salem (case no. interest arrears and future interest as follows: .56 lacs and Rs. 23. Due to lack of liquidity. 6 (due on May 17.a. 2001 could not be paid. 30 each after 3 years from the date of allotment (i. 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. The Company was regular in making the interest payment up to September 2000. Government of Tamilnadu acquired 154 acres of land for the Company and passed an award for the 154 acres. The Company has filed a writ petition to quash the order of reference. 20 each at the time of allotment on May 17.

52. 2005 May 17.710).2000 to 30.09.2003 totaling Rs. CC 802/02 Hg dated August 29. P.130) has not been serviced by the Company. 2002 May 17.09. 4. 2001 May 17.710) and December 31. a letter dated October 25. However.56. Jain from the list.10. In this regard. Subsequently.40 per debenture on 30.57. October 30. WCSPL filed Form 32 on November 25. 2004 (Rs.2004 • • Interest for the delayed payment calculated at the same rate of 15% to be paid on 31. 6 Nil The defaults in servicing in accordance with above terms are given below.2003 onwards. 2004 (Rs. 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.80 per debenture to be paid in two installments as under: Rs. 25 lacs and above. Industrial Finance Branch to WCSPL advising that the letter from WCSPL requesting removal of above name has been forwarded to ITCOT Ltd. 83. 2004 Interest • Interest for the period from 01. Rescheduled due date May 17. 18 Rs.2005.03. 2003 May 17.62. 6 Reduced principal Rs.Information Memorandum Principal Original due date May 17.12. 6 Rs.83. Defaults in Servicing Debenture interest aggregating Rs. Mr.300 being the first installment of redemption due on May 17.f. 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. in respect of West Coast Saw Pipes Limited (WCSPL). N. He is yet to be served with a copy of charge memo for the same.52. 2004 was also sent by WCSPL to SBI. For the period 01. Mr. Litigation against Directors of SISCOL Mr. 2002 from IX Metropolitan Magistrate Court. Industrial Finance Branch forwarding the acknowledgement of form 32 filed with the Registrar of Companies for the resignation. Saidapet. 10. Shanmugasundaram has received summon no.56. 7.40 per debenture on 31. Jain’s name is mentioned in the RBI list for willful default of Rs. K.10. 5. 5. 2004 was sent by SBI. 2007 May 17.31. advising that Mr. A letter dated October 29. 6 Rs. 2002 and has not been associated with the company since then. 12 Rs.e. 6 Rs. An amount of Rs.2003 and Rs. Chennai and has appeared before the court as a nominee director of Indian Natural Medical Products Ltd. 1. Copy of this letter was also sent to RBI.550 which was due on March 31. 2000 for debentures issued by the Company has not been paid for want of surrender of debenture certificates for endorsement by the debenture holders. September 30. 2004 (Rs. 2006 May 17. Jain had resigned as a director from the board of WCSPL w. 1.115 - .70. 2008 Amount payable per debenture for redemption Rs. (Industrial Technical Consultancy Organisation of Tamilnadu Limited) (C) Associate Companies (1) South West Port Limited (SWPL) . Maharashtra for intimating the change in directors. 2002 with Registrar of Companies.

1. SWPL has also filed a Counter Claim of Rs.) 3.80 crores Venting of Gases has been treated by the Dept. Outstanding Litigation Sr. Case No. No. as despatch and levied duty upon the same. as the Claimant had not dredged the entire lagoon area stipulated under the contract. Parties Pending Before Subject of the Matter Jaisu Shipping Arbitration at Claims for the Company Pvt. the work had also not been completed within time.75 lacs. Parties Pending Before Subject of the Matter Amount Involved (Rs.30 6902. the Marmagoa Port Versus South West Port Ltd.93 crores for delay and loss of profits due to a 45 days overrun along with interest @ 12. JPOCL Of CESTAT Claim Duty of 12. 1. the Evidence dredging work stage carried out at Ltd. No. Of Excise Vs. No. as despatch and levied duty upon .a.Information Memorandum Contingent liabilities not provided for relates to claims made by a dredging contractor. 8 Appeals Comm.00 % p. Venting of Liquid Products has been treated by the Dept.88 crores 2.47 crores Facts SWPL is disputing the claim. 2003 were: Sr. Particulars Bank Guarantees Excise Duty matters disputed by the company Claims against the company not acknowledged as debt (Rs. Amount Involved (Rs. Excise Vs. JPOCL CESTAT Claim of Duty 7. 155. 3.96 270.116 - . 3. 2.) Facts 8 Appeals Comm.00 Outstanding Litigation Cases filed by the Excise Department Sr. 1. to the extent the company does not expect any determination of liability in respect thereof amounting to Rs. Moreover. in lacs) Amount 111. currently pending before arbitration. (2) Jindal Praxair Oxygen Company Private Limited (JPOCL) Contingent Liabilities not provided as on March 31.

) Facts 3. Of Excise Comm. Comm. 1 case Comm. Asst. LOX Consumption Captive 4.51 crores 116 of 2002 JPOCL Vs. as despatch and levied duty upon the same. Duty on Infrastructu re Services Duty on MTOP Duty on IT Reimburse ment 8. Denial of MODVAT availed by JPOCL on the Capital Goods to the extent of 25% on project imports. 4 cases CESTAT Claim of Duty on Captive Consumption 51.48 lacs 2 cases JPOCL Vs.93 lacs 5. Claim of Duty 60. Of Excise Vs. Of Excise Comm. Comm.117 - . Comm.16 lacs Cases filed by JPOCL against the Excise Department Case No.06 crores 10 Appeals JPOCL Vs.22 lacs 1. JPOCL CESTAT Claim of Duty 1. JPOCL Comm. No. Claim of Duty 1. Parties Pending Before Subject of the Matter Amount Involved (Rs. Comm. Comm.74 crores Duty on reimbursement of expenses Duty on reimbursement of expenses Service Tax payable on Engineering Services of Praxair Inc. Of Excise Vs. Comm. Of Excise (A) Claim of Duty 90.22 lacs 55. Comm. Comm. 2 cases 6.Information Memorandum Sr. 2 Appeals Comm. Comm. Of Excise JPOCL Vs. 1 case 7. Case No. Parties Pending Before Subject of the Matter Amount Involved (Rs. Comm..87 crores the same. Denial of MODVAT credit 2. Comm. Venting of Liquid Products has been . Comm. JPOCL Comm. Of Excise Vs. Denial of MODVAT availed by JPOCL on the Capital Goods (SS Plates and 25% on project imports. Of Excise Vs. Of Excise Comm. Of Asst. Venting of Liquid Products has been treated by the Dept. JPOCL CESTAT Asst. Of Excise (A) Duty on Infrastructure Services Duty on Infrastructure Services Service Tax 1. Of Excise JPOCL Vs. Denial of MODVAT availed by JPOCL on the Capital Goods. Of Excise Asst. Of Excise (A) and Asst. Comm. Comm. JPOCL Comm.74 lacs 2 cases JPOCL Vs.) Facts 4 cases JPOCL Vs. Of Central Excise (Appeals) Asst. Of Excise Vs.98 lacs Duty reimbursement expenses on of 2. Technical Services and Field Service Agreements.77 lacs 11.

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

. 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.119 - . 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.

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Information Memorandum

DIVIDEND POLICY

Since incorporation, no dividend on Equity shares of JSWHL has been declared. Dividends will be declared at the Annual General Meeting of the shareholders based on a recommendation by the Board. The Board may recommend dividends, at its discretion, to be paid to the members of JSWHL.

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Information Memorandum

FINANCIAL INFORMATION AUDITORS’ REPORT To, The Board of Directors Jindal South West Holdings Ltd. Jindal Mansion, 5A - Dr. G. Deshmukh Marg Mumbai - 400 026. Dear Sirs, We were engaged to report on the financial information of Jindal South West Holdings Ltd. (“the Company”) which is required to be prepared in accordance with the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines 2000 (“the Guidelines”) issued by the Securities and Exchange Board of India (“SEBI”) in pursuance of section 11 of the Securities and Exchange Board of India Act, 1992. The financial information is proposed to be included in the Information Memorandum to be issued to the Stock Exchange Authorities in India in connection with the listing of fully paid up Equity shares (including issued to the shareholders of erstwhile Jindal Iron & Steel Co. Ltd. pursuant to the Scheme of Arrangement and Amalgamation (Scheme) sanctioned by the Hon’ble High Courts of Bombay and Karnataka on 3rd September, 2004 and 20th January, 2005 respectively) of the Company. The Company’s management is responsible for preparation of summary statement and the capitalization statement and our responsibility is to report based on the work done. We have performed such tests and procedures, which, in our opinion, were necessary for our reporting to you. These procedures include comparison of the annexed financial information with the Company’s audited financial statements. We were engaged to report on the annexed statement of assets and liabilities of the Company as at 31st March, 2005, 31st March, 2004, 31st March, 2003 and 31st March, 2002, (Annexure I) and statement of profit and loss for each of the four consecutive financial years ended 31st March, 2005 read together with the notes thereon (Annexure II). The above said statements have been extracted from the financial statements drawn up in accordance with the provisions of the Companies Act, 1956, audited by us for the years ended on 31st March, 2005, 31st March, 2004, 31st March, 2003 and 31st March, 2002. Based on our audit for the years ended on 31st March, 2005, 31st March, 2004, 31st March, 2003 and 31st March, 2002, we confirm that: 1. (a) These statements reflect the ‘Assets and Liabilities’ and ‘Profit and Losses’ for each of the relevant periods as extracted from financial statements drawn up in accordance with the provisions of the Companies Act, 1956, audited by us after making therein the disclosures and adjustments required to be made in accordance with the provisions of paragraph 6.10.2.7 of the Guidelines. (b) The aforesaid statement of Assets & Liabilities and Profit & Loss have been drawn up by the Company giving effect to adjustments and regroupings as and when considered appropriate.

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For Shah Gupta & Co. 7. approved by the Company and annexed to this report. Disclosure of the Tax Shelter Statement as required by paragraph 6. 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.123 - . 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. 3. they have been correctly computed from the figures stated in the Statement of Assets and Liabilities and Profit and Loss as referred above.10.Information Memorandum 2.2. We report that in our opinion. Chartered Accountants Vipul K. The Company has not declared dividends during any financial years covered in this report. The summary of significant accounting policies adopted by the Company is enclosed as Annexure III to this report. 2005. the Statement of Capitalisation as set out in Annexure VI which has been prepared based on audited information. 5. 6. Choksi Partner M. The Company has not taken unsecured loan. 4. The Notes to the Statement of “Assets & Liabilities” and ‘Profit & Loss Account’ are enclosed as Annexure IV. No.7(h) of the Guidelines have not been disclosed.7 (i) of the Guidelines is given in note 7 of Annexure IV. 37606 Place : Mumbai Date : 28th April 2005 .10. Hence the information regarding analysis of outstanding unsecured loans in accordance with the paragraph 6.2.

43 (3.135. .29 53.791.20 1.30 F G Net worth Represented by 1. 2003 2004 Rupees in Lacs 8.43 0.121.96 Lacs on account of allotment of Equity shares on 16th March.23 0. 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.91 1.96 52.124 - . 2005 to Shareholders of JISCO (erstwhile) in the ratio of 1 equity share of Rs.02 0.10) 344.121.57 0.10 each for every 4 equity shares held by them in JISCO (erstwhile).12 9.87) (4.28 8.12 0.32 4.85 9.35 43.59 10.59 0.19 1.1099.23 (0.74) 53.06 (13.06 52.23) (3.43 13.net Current Assets.22 6.30 5.088.04 B C D 4.28 2005 for 6.28 E 0. Expenditure Networth Note: Share Capital includes an amount of Rs.78 0.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 . 31.02 4.00 (4.05 13.13 10.109.70) 4.52 0. Share Capital (see note) 2.00 0.32 0.98 14.87) (8.35 6.217.08 2.28 1. Reserves Less Revaluation Reserve Reserves (Net of Revaluation Reserves) Less: Misc.64) 9.217.29 14.10) 10.00 (0.

42 (5.21 0.15 0.33 504.34 12. 31.09) 560.Current Add: Deferred Tax Assets Net Profit after Tax * Since the said company is an NBFC and not manufacturing company there is no sales.50 0. Break up of other income is : Dividend Interest Consultancy Fees Profit on sale of Investments - 0.66 15.09) (5.76 4.005 Income Sales Total Other Income * Increase (Decrease) in inventories Expenditure Raw Material Consumed Staff Costs Other Manufacturing expenses Administration Expenses Selling & Distribution Expenses Depreciation Interest Net Profit before Tax Less: Provision for Tax .50 0.50 0.53 19.90 532.42 560.34 0.29 0.22 27.50 0.33 0.48 - - 0.06 0.65 1.42 5. 2003 2004 Rupees in Lacs 2.71 36.66 .21 0.37 529.33 5.18 0.23 0.Information Memorandum Annexure II STATEMENT OF PROFITS AND LOSSESS 2002 Year ended March.125 - .66 560.

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

127 - . In assessing value in use.Information Memorandum carrying amount of an asset exceeds its recoverable amount. The recoverable amount is greater of the net selling price and value in use. (i) Miscellaneous Expenditure Preliminary Expenses and Share Issue Expenses are written off over a period of ten years. the estimated future cash flows are discounted to their present value based on an appropriate discount factor. . (h) Contingent Liabilities Contingent liabilities are disclosed after a careful evaluation of the facts and legal aspects of the matter involved.

the Investment Portfolio of Jindal Iron & Steel Co.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. c Rupees Investments & Loans & Advances Less : Amount of Equity shares issued to the shareholders erstwhile JISCO Excess Credited to General Reserve of 5.923. the Company has issued 10. The Company has incorporated investments and Loans & Advances at fair value as determined by the valuer. Ltd (JISCO)(erstwhile).128 - .155.243 The aforesaid difference has been credited to General Reserve as per the ‘Scheme’ approved by Hon’ble High Courts of Bombay and Karnataka. as disclosed in Schedule B. referred to as Investment division has been transferred to the Company with effect from 1-4-2003 (Appointed date).824 .753. d From 1st April.5.000 3. 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.10 each for every 4 equity shares held by them in JISCO (erstwhile). 2005 respectively. Pursuant to the Scheme of Arrangement and Amalgamation (Scheme) sanctioned by Hon’ble High Courts of Bombay and Karnataka on 3rd September. b Pursuant to the Scheme. Accordingly. 2003 in accordance with the Scheme. The difference of Rs.334. 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. 2004 & 20th January.10 each to the Shareholders of JISCO (erstwhile) in the ratio of 1 equity share of Rs.493 109.334 865. which is allowed as per Accounting Standard (AS) 14 “Accounting for Amalgamations” issued by the Institute of Chartered Accountant of India.625 fully paid up equity shares of Rs.265.753.Information Memorandum Annexure IV NOTES ON FINANCIAL STATEMENTS 1. 2003.999.510 545.250 5.749.155. 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. a. along with certain loans & advances. JISCO (erstwhile) had carried the Investment division in “trust” on behalf of the Company.996.

2.713 2003-2004 Rupees 3780 - 5.499 . 4.101/.17 ‘Segment Reporting’. These activities mainly have similar risks and returns. 2005 include the figures of JISCO (erstwhile) from the said date.37. 33. at least equal to the amount at which they are stated.550 11. Hence. 3. 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. 1961 88.03. In the opinion of the Board. 2003 (Appointed date) the Balance Sheet as at 31st March.Information Memorandum e In view of aforesaid Scheme with effect from 1st April. The Company is in the process of completing necessary formalities for registration. 7. the Company has: (i) Adjusted net Deferred Tax Liability of Rs. 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. The Company has become a Non Banking Finance Company (NBFC) as per Reserve Bank of India Act. Deferred Tax Liability : As at 31. 2005 and the profit and Loss Account and Cash Flow Statement for the year ended 31st March. 1993. Segment Reporting Based on guiding principles given in Accounting Standard . 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. Remuneration to the Auditors: 2004-2005 Rupees Audit Fees Tax Audit Other services Out of pocket expenses (including Service Tax) 6.as at 31st March 2004 against General Reserve and (ii) Recorded Deferred Tax Assets of Rs. the figures of the current year are not comparable with those of the previous year. issued by the Institute of Chartered Accountants of India. Loans and Advances have a value on realization in the ordinary course of business.129 - .2005 Rupees (a) Expenses covered by Section 35 D of the Income Tax Act. As company’s business activities falls within a single primary business segment the disclosure requirements of AS-17 in this regard are not applicable. 1. Net Deferred Tax Assets comprises: the 27.for the current year.020 36. Current Assets. 1934. the Company’s primary business segment is Investing & Financing.408/.

983 Previous Year Referred to In (a)(ii) above (Rupees) 17.130 - . Related Party Disclosures.000 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.000. .Information Memorandum (b) Depreciation Deferred Tax Assets : 23.145 (a) Expenses covered by section 35 DD of the Income Tax Act. 2.000 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. Sun Investments Pvt.167.629.900 9.15. Ltd.337 8.000. Related party relationship is as identified by the management and relied upon by the auditors. “Related Party Disclosures”. as required by Accounting Standard 18.500 Nil 1. (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. Computation of Basic and Diluted Earnings per share: 381. 1961 2.922 Nil Nil Previous Year Referred to in (a) (i) above (Rupees) Nil 1. Details relating to investments in the above related parties have been disclosed in Schedule C "Investments".

The additional Information pursuant to Part II of Schedule VI to the Companies Act.618 11. .per share) (Rs. 12. There are no internal or external indications existing on the Balance Sheet date indicating that an asset is impaired.204) 100.625 4.948. Current year’s figures include the figures of investment business of JISCO (erstwhile) and hence.099.09) Profit (loss) after Tax (As per Profit and Loss Account) Total Number of shares Earnings Per Share (Basic and Diluted) (Face Value – Rs.77 2003-2004 Rupees (509.) 10.Information Memorandum Particulars 2004-2005 Rupees 52. 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. Previous year figures have been regrouped/ rearranged wherever necessary to confirm with current year’s presentation. 1956 are either Nil or Not Applicable. 11. not comparable with that of previous year. 10/.131 - .

264 RONW 3 Net Asset Value (a)*100/(b) 0 2. 31 2003 2004 2005 Net Profit after Tax No.132 - .473 100.728.77 Net Profit after Tax Net Worth (a) (b) 500.Information Memorandum Annexure V Accounting Ratios 2002 1 Earning Per Share For the year Ended on March. of Shares NAV (a) (b) (a)/(b) 500.948.09) 11.618 (309.099.09) 52.000 10 936.264 100.000 0.321.204) 52.204) 100.000 0 22.000 50.000 22.000 (5.948.625 479.473 (509.000 (3.000 9.321.23 (509.422 - 0.36 (309. of Shares EPS 2 Return on Net Worth (a) (b) (a)/(b) 50.45 .205) 5.618 11.728.099.684 936.995 Net Assets No.205) 5.684 100.625 4.

00 52.06 - NOTE: Since there are no Long Term and short term Debt.13 1.00 (4. total Debt / Networth and Debt/ Equity ratio is not applicable.231.06 53. .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 10.110.133 - .87) 5.121.

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

in any book of the Company. but so that the total number of Directors shall not at any time exceed the maximum fixed under Article 112. Saibal Kanti Gupta Whenever Directors enter into a contract with any Government. 1) Until otherwise determined by a General Meeting of the Company and subject to the provisions of Section 252 of the Act. Subject to the provisions of Section 261. 2) 117.135 - . 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. 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. the Board shall have power at any time and from time to time to appoint any other qualified person to be an additional Director. title or interest to or in the said shares. which may occur as a result of any such Director or Directors ceasing to hold that office for any reason whatever. and may have such notice. 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. Any such additional Director shall hold office only up to the date of next Annual General Meeting. who are acceptable to the Board. 122. though it may have been entered or referred to in some book of the Company. Subject to the provisions of Section 260. Board of Directors 116. State or Local.Information Memorandum person having or claiming any equitable right. nominate them and the appointer may appoint another or other in his or their place and also fill in vacancy. 264 and 284 (6) of the Act. Nirmal Kumar Jain 3) Dr. The Directors may also agree that any such Director or Directors may be removed from time to time by the appointer entitled to appoint. 120. 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. 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. title or interest or be under any liability whatsoever for refusing or neglecting so to do. notwithstanding that the Company may have had notice of such equitable right. 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. Sajjan Jindal 2) Mr. 121. . the Directors shall have. 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. or referred thereto. A Director of the company shall not be bound to hold any qualification shares. the number of Directors (excluding Debenture and Alternate Directors) shall not be less than three nor more than twelve. 261 and 264 of the Act. subject to the provisions of Section 255 of the Act. Central. title or interest or notice prohibiting registration of such transfer. The first Directors of the Company shall be : 1) Mr. 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.

138. Manager or other Officer of the Company shall be liable for the act. 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. The liquidator on any winding-up (whether voluntary. 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. under supervision or compulsory) may. A retiring Director shall be eligible for re-election. 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. 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. 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. increase or reduce the number of Directors. with the sanction of a Special Resolution. 195. Winding up 193. The Board may allow and pay to any Director. securities. 136. such sum as the Board may consider fair compensation or for traveling. in addition to his fee for attending such meeting as above specified. 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. or effects shall be deposited or for any loss occasioned by an error of judgement or oversight on his part. The person so appointed shall hold office during such time as the Director in whose place he is appointed would have held the same if he had not been removed. 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. . lodging and other expenses. boarding.Information Memorandum 124. Indemnity And Responsibility 194. Subject to Section 259 of the Act. but subject to the rights attached to any preference share capital. and if any Director be called upon to go or reside out of the ordinary place of his residence on the Company’s business. or for any other loss. from time to time. receipts. he shall be entitled to be repaid and reimbursed any traveling or other expenses incurred in connection with the business of the Company. 135.136 - . Subject to provisions of Section 201 of the Act no Director. divide among the contributories in specie any of the assets of the Company and may with the like sanction. the Company may by Ordinary Resolution. insolvency or tortious act of any person with whom any moneys. 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.

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

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

2000. Maharashtra. Shah Gupta & Co. NSE & DSE ********* Stock Exchanges : .. 1992. 5A . as amended from time to time The Delhi Stock Exchange Association Limited Earnings per Equity Share Equity shares of the Company of Rs. 1961. Mumbai The banks which is the banker to JSWHL Board for Industrial and Financial Reconstruction The Board of Directors of JSWHL The Stock Exchange.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.T.10 each unless otherwise specified in the context thereof The twelve months ended Match 31 of a particular year Foreign Investment Promotion Board Hindu Undivided Family This document as filed with the Stock Exchanges is known as and referred to as the Information Memorandum The Income-Tax Act. 1956. 1957 The Securities and Exchange Board of India constituted under the SEBI Act Securities and Exchange Board of India Act. and where specified for other Companies. as amended from time to time. including instructions and clarifications issued by SEBI from time to time BSE.Dr. Mumbai The Securities Contract (Regulation) Rules.139 - . Net Asset Value National Securities Depository Limited The National Stock Exchange of India Limited Reserve Bank of India Jindal Mansion. as amended from time to time SEBI (Guidelines for Disclosure and Investor Protection) 2000 issued by SEBI effective from January 27. Mumbai Compounded annual growth rate Central Depository Services (India) Limited The Companies Act. Mumbai – 400 026 The Registrar of Companies. G. Act JISCO JSWHL JVSL Memorandum / Memorandum of Association NAV NSDL NSE RBI Registered Office of our Company ROC SCRR SEBI SEBI Act SEBI Guidelines : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : Description Accounting Standards as issued by the Institute of Chartered Accountant of India Articles of Association of Jindal South West Holdings Limited The statutory auditors of JSWHL. Chartered Accountants. as amended. except as stated otherwise Jindal Iron & Steel Company Limited Jindal South West Holdings Limited Jindal Vijayanagar Steel Limited The Memorandum of Association of JSWHL. Deshmukh Marg. M/s.

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