Information Memorandum

INFORMATION MEMORANDUM

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

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Information Memorandum

TABLE OF CONTENTS

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

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

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Information Memorandum

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

Increase volatility in the financial markets can have an adverse impact on the economic of India and other countries including economic recession. Our Company’s share price could be volatile. After this listing. Such acts may also result in a loss of business confidence and have other consequences that could adversely affect our business.Information Memorandum market regulators in India. including those involving India or other countries and other such acts. could adversely affect Indian and worldwide financial markets. Adverse media reports on our Company or on the Indian financial services industry. results of operations and financial condition. 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. results in a loss of business confidence and adversely affect the business. Significant development in India’s economic liberalization and deregulation policies and Significant development in India’s fiscal and environmental regulations. -4- . 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. results of operations and financial condition. the prices of our Company’s equity shares may be volatile. The price of our Company’s equity shares on Indian Stock Exchanges may fluctuate after this listing as a result of several factors. Significant development in the regulation of financial services market. New laws/rules and changes in any law and application of current laws/rules could affect our manner of operations and profitability. or an active trading market for our Company’s equity shares may not develop. including: • • • • • • • Volatility in the Indian and Global securities market. The results of operations and performance’ Perceptions about our Company’s future performance or the performance of Indian investment and consultancy companies. Terrorist attacks and other acts of violence or war involving India and other countries could adversely affect the financial markets.

e. Subsequently. Maharashtra. Atul Desai Mr. Managing Director & CEO Mr. 2004 and the Order of the Honourable High Court of Karnataka was filed by JSWHL with the ROC. Mumbai – 400 026. 2004 and January 20. Shailesh Haribhakti Authority for Listing The Honourable High Courts of Judicature at Bombay and of Karnataka vide their Orders dated September 3. Jain Dr. 1st April. SEBI. the Appointed Date under the Scheme). Gupta Mr.Information Memorandum GENERAL INFORMATION Name & Registered office of the Company Jindal South West Holdings Limited Jindal Mansion.f.5. 2003 (i. Mumbai – 400 002. subject to applicable regulations. 2005 respectively. the National Stock Exchange of India Limited (“NSE”) and The Delhi Stock Exchange Association Limited (“DSE”). The aforesaid Order of the Honourable High Court of Judicature at Bombay was filed by JSWHL with the Registrar of Companies (“ROC”). Mumbai (“BSE”). N. or deed. NSE and DSE for such issues and also subject to such other terms and conditions as may be prescribed by BSE. which is the Effective Date of the Scheme. title and interest of JISCO therein. 11-132705 – registered with : The Registrar of Companies. vide its letter no. subject to subsisting of charges and pledges. Maharashtra.e. if any w. Board of Directors 1) 2) 3) 4) 5) 6) Mr. 1956.3.3. Maharashtra. have approved the Scheme of Arrangement & Amalgamation between Jindal Iron & Steel Company Limited (“JISCO”). Marine Drive. Registration No. Deshmukh Marg. Mumbai on February 4. K. Sajjan Jindal. 2005. Jindal Vijayanagar Steel Limited (“JVSL”) and their respective members and creditors (the “Scheme”) whereby the Investment Division of JISCO. stands transferred to and vested in JSWHL so as to vest in the JSWHL all the rights. K. 8. N. 5A – Dr. Mumbai.4 of SEBI (DIP) Guidelines. G. Patel.5.3 and 8. Further. 1957 (SCRR) subject to JSWHL complying with the provisions of Clauses 8. NSE and DSE at the time of the application by JSWHL seeking listing. above relaxation is also subject to JSWHL confirming the following: - -5- . S.3. Such listing and admission for trading is not automatic and will be subject to fulfillment by JSWHL of listing criteria of BSE. CFD/DIL/SR/38545/2005 dated April 15. Chairman Mr. In accordance with the said Scheme. the Equity Shares of JSWHL issued pursuant to the Scheme as well as existing shares of JSWHL issued for the purpose of incorporation shall. without any further act. 2000.1 (iv) – (viii). 100. Everest. 2005 has granted relaxation from the applicability of Rule 19(2)(b) of the Securities Contract Regulation (Rules). Jt. be listed and admitted to trading on The Stock Exchange. pursuant to the provisions of Section 391-394 of the Companies Act. Jindal South West Holdings Limited (“JSWHL”). instrument. Mumbai on November 22. K.5.

Jindal South West Holdings Limited to be with public holders of shares in the pre-arrangement listed transferor company. Jindal South West Holdings Limited nor its promoters/directors are debarred by SEBI from accessing the capital market. certify or endorse the correctness or completeness of any of the contents of this Information Memorandum. 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. the “Public Holders” referred in clause 8.3. JSWHL will publish an advertisement in the newspapers containing its details in line with the details required as per clause 8.3.Information Memorandum a) For the purpose of satisfying at least 25% of post-scheme paid up capital of unlisted transferee company.3. 1997. namely. Prohibition by SEBI The Company. containing information about itself and Group Companies to BSE. JSWHL will comply with the aforesaid conditions stipulated by SEBI.5. JSWHL has made the said Information Memorandum available on its website. Caution The Company accepts no responsibility for statements made otherwise than in the Information Memorandum or in the advertisements to be published in terms of Clause 8. namely. 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. 2000 excludes the following: i) Promoters and persons acting in concert of pre-arrangement listed transferor company. Jindal Iron & Steel Company Limited. its directors. ii) Any shareholder of pre-scheme unlisted transferee company.1 (iii) of SEBI (DIP) Guidelines. Disclaimer Clause of BSE As required. JSWHL has submitted its Information Memorandum. 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.5. Jindal Iron & Steel Company Limited as defined in SEBI (Substantial Acquisition of Shares & Takeovers) Regulations.4 of SEBI (DIP) Guidelines.4 of SEBI (DIP) Guidelines. namely. namely. Jindal South West Holdings Limited b) Neither the unlisted transferee Company. its promoters. The BSE does not in any manner: warrant. NSE and DSE for making the said Information Memorandum available to public through their websites. or -6- . namely. a copy of this Information Memorandum has been submitted to BSE.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.

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

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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Vijay Karayi Total 20000 15000 14300 100 100 100 100 100 100 100 50000 6) As on the date of this Information Memorandum. 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. preferential allotment. by way of split/consolidation of the denomination of Equity Shares or further issue of Equity Shares (including issue of securities . Ltd. Nirmal Kumar Jain Mr. Top ten shareholders on the date of incorporation of JSWHL Name of the shareholders Number of Equity Shares on the date of incorporation of JSWHL 1 2 3 4 5 6 7 8 9 10 Gagan Trading Company Limited Reynold Traders Private Limited Vrindavan Services Private Limited Mr. loans or other instruments into equity shares of JSWHL. Beaufield Holdings Ltd Jindal Equipment Leasing and Consultancy Services Ltd Sun Investments Private Ltd HSBC Equity Fund Reynold Traders Pvt. No.Information Memorandum 5) The list of top 10 shareholders of JSWHL and the number of Equity Shares held by them: (a) Sr. Vishnu Prakash Garg Mr. options or rights to convert debentures. Kantilal Narandas Patel Mr. Seshagiri Rao M V S Mr. 7) There will be no further issue of Equity capital whether by way of issue of bonus shares. 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.11 - . No. there are no outstanding warrants. Ram Prakash Nangalia Mr. Raman Madhok Mr. Ltd. 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. 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.

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

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

departments and services of the Govt. Public or local authorities. commencement or expansion. local bodies in India or abroad. stocks or other securities of Companies. technical know how planning. as are usually rendered by consultants for and in connection with the management. marketing. bodies. management. research. design etc. concerns. Jindal Strips Limited and other companies. These shares were transferred to JSWHL by JISCO under the Scheme of Arrangement approved by The Honourable High Courts of Judicature at Bombay and Karnataka vide their Orders dated September 3.. Trustees etc. Jindal Stainless Limited. 2004 and January 20. organization. . manufacture / production in all types of industries to and for institution. supervision. JSWHL a Company is mainly engaged in the investment activities by investing in shares. Public bodies / authorities. publicity.Information Memorandum BUSINESS JSWHL is an Investment Company and presently holds investments in equity shares of Jindal Group companies mainly in listed entities like Jindal Vijayanagar Steel Limited. development. JSWHL also provides consultancy services and acts as advisors inter alia in matters and problems relating to finance. cost control.14 - . Jindal Steel & Power Limited. 2005 respectively. associations (incorporated or unincorporated). HRD.

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

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

Moores Rowland Consulting Pvt. He is a keen sportsman & avid squash player with an interest in art. he joined Swastik Foils. Ltd. Mr. Advantage Moti India Pvt. Birla Global finance Ltd. Jindal is a member of the Bombay Chapter of the Young Presidents’ Organisation. Ltd. Mahindra Gesco Eastern Ltd. manufacturing Cold Rolled and Galvanized Sheet Products. To achieve better synergies in the operations of group companies. Jindal Thermal Power Company Ltd. Jindal Praxiar Oxygen Ltd. 1959. Ltd. . Mr. Walchand Capital Ltd. E-Biz Chem Pvt. Kotak Mahindra Pvt. Ltd. He received his Bachelor of Engineering degree in Mechanical Stream from Bangalore University in the year 1982. Morarjee Textiles Ltd. Shailesh Haribhakti Director (S/o Shri Vishnubhai B. Indore. 47A. Ltd. Vidyavihar Containers Ltd. Sajjan Jindal Sajjan Jindal was born on December 5. Brief Biographies of the Directors Mr. Ambuja Cement Eastern Ltd.Information Memorandum Mr. Advantage Comfort Pvt. The Rubber Products Ltd. Indian Petrochemicals Corporation Ltd. Alliance Capital Asset Management (I) Pvt. IDBI Capital Market Services Ltd. in Calcutta. After graduation. Haribhakti) 7. All these businesses were formed to achieve the core competency in the production of Flat Steel Products. India. Jindal moved to Mumbai to independently look after the western region operations of Jindal Organisation in 1983. for the complete backward integration. Haribhakti MRI Corporate Services Pvt. South West Port Limited and Southern Iron and Steel Company Limited were added in JSW Group in the year 2004. In 1989 he got associated with Jindal Iron & Steel Company Ltd. Chartered Accountant 49 • • • • • • • • • • • • • • • • • • • • Pantaloon Retail (India) Ltd. National Shipping Board and Tirumala Tirupati Devasthanams Board. Mumbai – 400 026.5 billion US$ and is a part of Jindal Organisation. Firpos Premises. Equity Trustee Ltd. and Vijayanagar Minerals Private Ltd. SIDBI Venture Capital Ltd. JSW Group is having an annual turnover of over 1. as a Joint Managing Director and retained this position until 1983. 4th Floor. Bhulabhai Desai Road.. one of the largest business house in India having a turnover of over 3 billion US$. He also promoted Jindal Vijayanagar Steel Ltd.. theatre & culture. Jindal South-West group was formed in the year 2004. He is also a Member of Board of Directors of Indian Institute of Management.17 - . Gujarat Adani Port Ltd. Ltd. JBF Industries Ltd.

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

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

Currently the remuneration of Jt. 2.Information Technology Committee of the Indian Merchants’ Chamber (IMC) 2001 Chairman – Corporate Governance Committee of ASSOCHAM 2001 Arbitrator – Appointed by Indian Council of Arbitration. having a presence of more than five decades in the areas of accounting. Bonus.2010. He has been with the Group since 1978. Managing Director & CEO will be so fixed by the Board of Directors from time to time that the Salary. K. club fees and leave travel concession for himself and his family. IT in today’s business scenario and Valuation. He is on the Board of some reputed listed Companies also. Verma Committee on Sweat Equity. and CEO of Haribhakti Group. His contribution to the corporate world and society comes through the leadership roles. Managing Director & CEO of JSWHL. N. Performance Incentive. Patel shall not exceed a maximum ceiling of 125% of his Basic Salary.. Mr. Shailesh Haribhakti Shailesh Haribhakti is a senior Chartered Accountant and Managing Partner of Haribhakti & Co. house maintenance allowance together with reimbursement of expenses or allowances for utilities such as electricity.2005 to 27. This draft agreement will be available for inspection at the registered office of the Company. N. furnishings and repairs. Compensation of Managing Directors / Whole time Directors An agreement being executed between JSWHL and Mr.04. K. the aggregate value of all the perquisites and allowances like furnished accommodation or HRA in lieu thereof. Patel setting out the detailed terms and conditions of his appointment as Jt. financial and management services in India. Remuneration : (a) The remuneration of the Jt. Further.20 - .Information Memorandum Mr. 6 lacs per month. Perquisites and allowances shall not exceed overall ceiling of Rs. Managing Director & CEO is eligible to the following compensation: 1. some of which are given below: • • • • • • • President – Indian Merchants’ Chamber 2003-04 Chairman . Patel who is the Jt. within the overall ceiling as mentioned above has been fixed as under: - (b) . He writes prolifically on the web and in various newspapers and magazines. He also served as ASSOCHAM Nominee on the J. He served as the President of Indian Merchants’ Chamber for 2003. medical reimbursement. Managing Director & CEO. ESOPs & Privately Placed Equity and on the Naresh Chandra Committee on Corporate Governance. Mr.R. Period : Five years from 28.04. 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. 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. Haribhakti has made vast contributions to the corporate world and society through various leadership roles. medical insurance.04 and as Chairman – Corporate Governance Committee of ASSOCHAM in 2001. Accounting Standards.

Superannuation etc. 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. N.Information Memorandum Basic Salary : Rs. K. 1961. JSWHL has already appointed independent directors to its Board and has also constituted the Audit Committee. Managing Director & CEO Remuneration Committee --- . subject to the approval of Central Government. Managing Director & CEO shall be paid remuneration by way of salary and perquisites as specified above. Jt. perquisites and allowances as above shall be paid/provided in accordance with the rules of the Company subject to ceiling of 125% of the Basic Salary. Sajjan Jindal Mr. Sitting Fees Mr. Patel Non-Executive Jt. wherever applicable. In the event of loss or inadequacy of profits in any financial year. b) Gratuity as per rules of the Company (which shall not exceed one half month’s Salary for each completed year of Service). perquisites shall be evaluated as per Income-tax Rules. Patel. if required.70.21 - . Provident Fund. and c) Encashment of leave at the end of the tenure. Details are as follows: Board of Directors Category Audit Committee --Member of Investors/Shareholders Grievance Committee --- Mr. the Jt.000/. In addition. 1. Shareholders/Investors Grievances Committee and Remuneration Committee as required by Clause 49 of the listing agreement to be entered into with the Stock Exchanges.(Rupees One Lakh Seventy Thousand Only) per month. 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. 3. The following perquisites shall not be included in the computation of the ceiling on remuneration specified above: a) Contribution to Provident Fund. Superannuation Fund or Annuity Fund to the extent these either singly or put together are not taxable under the Income Tax Act. 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. 4. 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. For the purposes of calculating the above ceiling. 5.

K.2005 Date of Resignation ------Reasons Appointed as Director Appointed as Jt. the directors of JSWHL have no other interest in JSWHL. Atul Desai Mr. Mr. K. Jain Dr. Mr. Shailesh Haribhakti Non-Executive Independent Independent Independent √ -√ √ √ √ √ -- √ √ √ -- JSWHL undertakes to adopt the Corporate Governance Code as per Clause 49 of the listing agreement to be entered into with the Stock Exchanges prior to listing. Atul Desai Mr. N. K. Managing Director & CEO of the Company for a period of 5 (five) years w.e.760 2. S. Managing Director & CEO.Information Memorandum Mr. Shailesh Haribhakti Interest of the Directors Mr. Shailesh Haribhakti Date of Appointment Since incorporation 28. N. Gupta Mr. Shareholding of Directors Name of Director No of Shares of JISCO as on February 25.f April 28. K. reporting to Mr. Atul Desai Mr. . Managing Director & CEO w. Change in Board of Directors of JSWHL since its inception Name Mr. N. N. Patel Mr. N. Managing Director & CEO. K. K. S. Jain Dr. Sajjan Jindal Mr.22 - .2005 Since incorporation Since incorporation 31. K. Legal and Administration work of the Company. N. K. Sajjan Jindal Mr. K. Jain Dr.e.01. Patel Mr. S. Patel.01. Gupta 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. the record date) 12. Managing Director & CEO Appointed as Director Appointed as Director Appointed as Additional Director Appointed as Additional Director Management Organization Structure of JSWHL Mr.200 19. 2005. Virendra Samani is appointed as Company Secretary and is looking after the Secretarial. Patel. Mr.N.e. N. Manoj Kumar Mohta has been appointed as Deputy General Manager. Gupta Mr. K. Term of Office All the directors are liable to retire by rotation except Mr. Mohta is responsible for Management Services Division and reports to Mr. K. who has been appointed as the Jt. Jt. 2005 (i. N. Patel has been appointed as Jt. Patel is Jt.600 984 --No of Shares of JSWHL allotted as per the Scheme 3.f. April 28.04.189 550 4.2005 31. Patel. Other than as stated above and the respective shareholding of the directors mentioned above. K.900 246 --- Mr.

There has been no change in the Auditors since incorporation.Information Memorandum Shareholding of the key managerial personnel There are no key managerial personnel holding shares in JSWHL. N. 2005 (i.f. N. Changes in key managerial personnel since inception There is no change in key managerial personnel since its inception. 2005. Managing Director & CEO of the Company w. the record date) No of Shares of JSWHL allotted as per the Scheme Mr. April 28. except as stated below: Name of Key Managerial Personnel No of Shares of JISCO as on February 25.23 - ..e. Chartered Accountants. Auditors M/s Shah Gupta & Co. Mumbai is appointed as the Auditors of JSWHL.e. Employees At present. . there are Three (3) employees of JSWHL. except as stated below: Mr. K. Patel has been appointed as Jt. K. Patel 2200 550 Bonus or Profit Sharing Plan for key managerial personnel There is no bonus or profit sharing plan for key managerial personnel.

R. Consequent to the merger of the two companies. H. vi Nalwa Investments Ltd.01 1.Information Memorandum PROMOTERS/PRMOTER GROUP COMPANIES AND ASSOCIATED COMPANIES Educational Qualification: B.20 1. Subsequent to restructuring.794 62. (Mech. The name of the company was changed to Jindal Strips Limited on May 5. He was instrumental in setting up JVSL.E. Rajinder Parkash. of shares % of shareholding 133.248 504.V. Sajjan Jindal. aged 46 years. No. He is also the Chairman of Jindal Thermal Power Company Limited and Twenty-First Century Printers Limited.683 78. The board of directors of the company comprises Mr. (A) Promoter Companies (1) Jindal Strips Limited (JSL) The company was promoted by Late Shri O. Jindal is the Vice Chairman and Managing Director of the merged entity. Mishra.158 92. He is also the director of Indian Institute of Management. Mrs.: 44304/Hissar Passport No. Deepika Jindal.) Driving License No. Mr.738 112. Mr. He was the Chairman and Managing Director of erstwhile JISCO and the Managing Director of JVSL. Jindal and was incorporated on November 18. Garg and Mr. Shareholding Pattern The shareholding pattern as on March 31. The group companies have been classified into the Promoter Companies. iv Everplus Securities & Finance Ltd v Mansarover Investments Ltd.83 2. Promoter Group Companies and Associate Companies as given below. the company is now a Non Banking Finance Company. Rakesh Garg. Category No. ii Sun Investments Ltd iii Colorado Trading Co. Indore and a member of TTD Development Advisory council and Bombay chapter of the Young President Organization.24 - . Promoter’s holding 1 Promoters: Indian Promoters: i Gagan Trading Co.395 2. Mr. Ltd. mainly dealing and investing in securities.53 . Ltd. A.: F 0256563 Mr. vii Stainless Investments Ltd. Jindal is the director in Jindal Aluminum Limited and South West Port Limited.80 1.22 4. 1975. 1970 as Jindal Strips Private Limited.861 206.59 9. is Chairman of the Company.G. Mr. Ratan Jindal.P. 2005 is as follows: Sr. He has more than twenty years experience in the industry. Mr.

44 (44.00 43. 4 a.07 5.00 1.13 293. b.63 2.91 446. Sub-total (3) Others: Private Corporate Bodies Indian Public i.26 81.62 1.65 40% 15.23 2. Insurance Companies (Central/ State Govt.08 5.08 23.246.99 253. Financial Institutions.05) 495. b.163 0.Information Memorandum 2 B.780 186.145 257.38 100.00 55.Government Institutions) FIIs. Sunil Kumar Jain ii Chamanlal Desai (HUF) iii Others (Indian Public) NRIs/ NRI Companies I Ricky Ishwardas Kirpalani ii Keswani Haresh iii Others (NRIs /NRI Companies) Any other (Pending allotment) Sub-total (4) Sub-total (B) Grand-total (A+B) 54.00 Financial performance The financial performance of the company (Rs.35 0.565 30.03 0.565 125.66 .611 274. d. Institutions / Non.13 249.06 2.729 311.361 1.56 2.611 54 2.923 268.964 1.12 1.229 120.751 312.994 488.268 109.) BV (Rs.279.76 9.22 2002-03 5.07 8.64 3. 3 a.59 778 32.45 6.205. c.19) (86.02 0. c./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. viii Manjula Finances Ltd ix Vrindavan Services P.24 2001-02 18.35 0.Ltd xi Jindal Equipment Leas & Con.393 141.Ltd x Hexa Securities & Finance Co.25 - .51 5.687 185 2.199 5.46 11.Equity Reserves and surplus (excluding revaluation reserves) Sales (including Excise duty) Interest and Dividend Income Other Income PAT Dividend (%) EPS (Rs.437 0.856.419 2.41 1484.48 6.74 44.) 2003-04 5.70 60% 5.01 2. Ser.61 31.136. in crores) is given below: Share capital .Ltd xii Saw Pipes Ltd.26 12.000 55.

0001 0.Information Memorandum Stock Market Data Month September 04 October 04 November 04 December 04 January 05 February 05 March 05 NSE High (Rs.0001 0.90 High (Rs. (2) Jindal Holdings Limited The Company was incorporated on February 6.0001 0. Sajjan Jindal Mr.26 - .00 294.00 218. Mahesh Jain.) 197.) 210.10 216. Rajendar Gupta and Mr. Madan Lal Gupta. 257.00 310. 1990 in the State of Maharashtra and thereafter the registered Office of the company was shifted to State of Haryana on November 9.05 222.0001 0.90 243. Om Prakash Jindal Mr.00 250.50 251.0488 100.00 245.00 250. Sushil Bhuwalka Jindal Strips Ltd Jindal Steel & Power Ltd Total Financial performance The financial performance of the company (Rs.) 197. depending on the type of complaint.) 208.00 239.90 242.25 230.10 197. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Mr. The Board of directors of the company comprises Mr.00 292.00 The market price of shares of the company (as on March 31.0001 0. 132.00 196. in lacs) is given below: No.0001 86. Naveen Jindal Mr.00 360. The company has engaged the services of a Registrar & Transfer Agent to handle the grievances of the investors. 1998. Ratan Jindal Mr.80 330.9509 13. of Shares 10 10 15 10 10 10 16085755 2414000 18499820 % of shareholding 0.30 244.00 Low (Rs.00 BSE Low (Rs.00 252.08 crores.60 365.15 and the market capitalization was Rs. 2005) on BSE was Rs. It is registered with RBI as Non Banking Finance Company and main business is to deal in securities. The average time taken by the company for redressal of complaints varies from 7 to 20 days.30 284. Mr.00 282. Resolved/Replied: 520 and Pending:20.0000 . Particulars of investor complaints during the period April 2004 to March 2005 are as follows: Complaints Received: 540. Prithviraj Jindal Mr.00 268.

Information Memorandum Particulars Share capital Reserves and surplus (excluding revaluation reserves) Turnover /receipts Profit /(loss) after tax Dividend (%) EPS (Rs.457. The Company is engaged in the business of finance. The Board of directors of the company comprises Mr. of Shares 1.44 14.954.82 0. Ltd.21 0. Heston Securities Ltd.983.62) 17.750 181.420. D.63) Nil 33.420.12 24.44 14.758.732.12 3.37 (298.08) Nil 34.627.61 12.175 % of shareholding 6. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Mansarover Investments Ltd Ever plus Securities & Finance Ltd Jindal Steel & Power Ltd.000 160.025.000 551.08 NIL 0.95 7.K.06 441.000 2. Pental Holding Ltd.200 2.000 2.250 27. Investment and finance related consultancy services.717.05 FY02-03 1849. Investment M/s R.98 5699.84 3.98 5699. Sharma.581.72 NIL 0.01 (216. P.420.12 5.927. Mr.13 (77.450 52. Goel.525 16.000 2.70) Nil 32.250 4.) BV (Rs.433.44 13.60 FY01-02 167.00 (excluding . The Company was registered with Reserve Bank of India as Non Banking Financial Company (not accepting public deposit) on 12th March 1998.750 181. Investments Beaufield Holdings Ltd Templar Investment Ltd.05 17.581. Estrella Investment Co.000 47.31 14.) FY03-04 1849.433. 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.658. 1982 as a Private Limited Company and converted into a public limited company.92) NIL (0.477.040.250 17.3 FY02-03 167.420.000 640.74 18. P.433.581.000 2.000 1.) FY03-04 167.750 181.112.242.41 6.67 FY01-02 1849. Mahender Kr.29 100. Sunil Mittal and Mr.10 (10.55 No.000 1.44 14.98 5699.27 - . Jindal Strips Ltd Jindal Equipment Leasing & Cons.) BV (Rs.28 0. Services Ltd M/s R.320.12 83.08 (3) Stainless Investments Limited This Company was incorporated on September 15.256.

783 2.01 13. Mr. D. Ashok Goel and Mr. 1986 the name of the company was changed to Jindal Equipment Leasing & Consultancy Services Limited .Information Memorandum (4) Mansarover Investments Limited Mansarover Investments Ltd was incorporated on June 8. 1981 as a Private Limited Company and subsequently became a public limited company.800 223. 1984 as Jindal Equipment And Finance Limited. Board of directors of the company comprises Mrs. Mr.816.500 199.000 13.83 6. S.000 340.000 218.823.816. Shallu Jindal. Beaufield Holding Ltd.000 35.39. of Shares 115.442 NIL 1. S.383 (22. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Abhinandan Investments Ltd.0023 NIL 0. K.The Company is registered with RBI to carry on the business of Non Banking Financial Company. With effect from August 7.17 FY01-02 1.15 12.39.) FY03-04 1.39.697.68 FY02-03 1.828.5 20. 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.816.538.823. K.816.831) NIL 1.01 13.85.500 10. .000 1.9 No.22 19.01 13. Ltd. Saxena and Mr. Manjula Finances Ltd.800 % of shareholding 0. Ltd. Pental Holding Ltd. Jindal Equipment Leasing & Cons.000 218.01 13.000 1. The Company was registered as NBFC with Reserve Bank of India (not accepting public deposit) on September 25.726 21.000 1.000 15.54 1. Templar Investment Ltd. Jindal Holdings Ltd.038.124. Goel.823.500 300.61 18.00 (excluding (5) Jindal Equipment Leasing and Consultancy Services Limited The Company was incorporated on March 29. Estrella Investment Co. Services Ltd Jindal Strips Ltd.28 - .000 1.856. Ratan Jindal.78 13. Heston Securities Ltd.597.517.816.538. Vrindavan Services Pvt.000 218.500 912. The Company is engaged in the business of finance. The Board of directors of the company comprises Mr.01 2.44 100. Stainless Investments Ltd.000 1.000 13. 1998.43 2.) BV (Rs. Investment and finance related consultancy services. D.538. Goel.953.17 7.000 1.60 1.

000 23. Vrindavan Services Pvt.95 3. 100/-each Reserves and surplus (excluding revaluation reserves) Sales PAT Dividend (%) EPS (Rs.000. Investment and finance related consultancy services. Ltd. S.394.06 (6) Nalwa Investments Limited The Company was incorporated on February 6.49 5.39) 33.000 23. Ltd.77 77.45 34. of Shares 248.465. Mr.000.000 65.000 521.20.750. Saxena and Mr.815.000 40. 1998 the Company got registered with Reserve Bank of India as Non Banking Financial Company (not accepting public deposit).630.Information Memorandum Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Abhinandan Investments Ltd.47 1.43 100.570 NIL 1.000 302.) NIL (1. 1981 and is engaged in the business of finance.29 17. Ltd.74 14.600 (10.00 77. Musuko Trading P. 10/-each 2.29 - .193. On March 21.000 100.750. Gagan Trading Co Ltd.127.750.531.000 19.000 13. P.327. Stainless Investments Ltd.568. Subscribed & paid-up) 7.80 6.000 100. Jindal Strips Ltd. Other individuals/HUFs Total Financial performance The financial performance of the company is given below Particulars Share capital (Issued.) BV (Rs. S.327. Jindal.300 1. R.732.000 10% Cumulative Redeemable Preference Shares of Rs. Aras Overseas P.57 18.700 Equity Shares of Rs.26 40. The Board of directors of the company comprises Mr. Renuka Financial Services Ltd Jindal Holdings Ltd. Subhash Chandra Sharma.792 48.000.900 7.476 11. Mansarover Investments Ltd. Sun Investments Pvt.29 1.Ltd.000 23.700 % of shareholding 3.000 1.07 1.000 500.327 NIL 6.69 6.000 419.500 285.531.) FY03-04 FY02-03 FY01-02 No.000 302.327.000 1.30.21 19.732.003.000 302.51 77. Shareholding Pattern The shareholding pattern is as follows: .000 115.

705 23.05 5.Jindal R.517.26) (183.400 32. There has been no trading in shares in preceding six months (7) Abhinandan Investments Limited The Company was incorporated on April 6.500.000.33 .19 24.713.Jindal & Sons HUF P.500. O.700 100 10.Information Memorandum Name of the Shareholder Abhinandan Investments Ltd.356. Sun Investments Ltd.572.000 140.100 34.59) Nil (18.14 5.5) This company is listed on Delhi Stock Exchange Associations Limited.99 100. & Finance Ltd.701.34 NIL 52.000. the Company got registered with Reserve Bank of India as Non Banking Financial Company (not accepting public deposit).13 (136.500. of Shares 200 10.000 Nil 12.89 4.13 7. On March 19.74 43.221.) No.753.Jindal & Sons HUF S.457.59) (189) 4.P. 1998.000 140. The Board of directors of the company comprises Mrs. of Shares 1. 10/-each 1.00 FY03-04 FY02-03 FY01-02 4.650 % of shareholding 0.000 140.10 5.000 Nil 36.550 5. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Arti Jindal Naveen Jindal Sajjan Jindal S.222 (8.101 (2. Mr.650 23. 100/-each Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs.Jindal & Sons HUF .000 Nil 39.) BV (Rs.000 Equity Shares of Rs.35) NIL (5.K.038.000. Everplus Sec.150 23. Investment and finance related consultancy services.35 0.31 7.30 No. Parmod Garg.K.26 5.850 197950 450. Subscribed & Paid-up) 4.000 19.34 1.000 10% Cumulative Redeemable Preference Shares of Rs.K.8) 4.50.000 % of shareholding 0. Sunil Mittal and Mr. 1983 and is engaged in the business of finance. Deepika Jindal.R.350 112.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.400.

907. Purshottam Lal.00 46.00 Shares of the Company were listed on November 28.000.000 Nil 20.945.50 4.741 (3.A. was merged with the company in 1991-92.000. Mr.HUF Ever plus Securities & Finance Ltd Sun Investments Pvt. R. Ms.986. 10/-each 8.Jindal .f.060. The board of directors of the company comprises Smt.132.850 10.000 10% Cumulative Redeemable Preference Shares of Rs.000 92.000 Nil 23.000 500 1. Shareholding Pattern .33 6.93 5. Swastik Udyog.31 - . Subscribed & Paid-up) 2. There has been no trading in shares in preceding six months.000 Nil 13.70) NIL (15.3) 2. Mr. Ltd Stainless Investments ltd Mansarover Investments ltd Nalwa Investments ltd Jindal Strips Ltd Others Total 10. M. As part of backward integration.J.000 81.43) (291. Sminu Jindal.000.086.25 0.37 NIL 91. Mr.9) 2.33 11. 1984 as Saw Pipes Ltd.000 5. Devi Dayal.000 8. S. V.e. 2005. P.00 4. The company is an established player in the country for manufacturing and coating large diameter Submerged Arc Welded (SAW) line pipes.000 8.127 (7.00 0. a subsidiary of Jindal Strips. which produces thicker gauge steel strips. A.Information Memorandum Savitri Devi Jindal Deepika Jindal P. Mr.255.83 5.000 Equity Shares of Rs.000. 100/-each Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs.00. The name of the company was changed to Jindal Saw Ltd. January 11.650 23. 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. Mr. Tauro. Chaudhary.51) (276) (8) Jindal Saw Limited The company was incorporated on October 31.000 81.000.R.10.28 (199.650 13. Financial performance The financial performance of the company is given below Particulars Share capital (Issued.43) Nil (37.650 10.) (Equity Shares only) FY03-04 FY02-03 FY01-02 2.03 100.502.000 81. Satya Prasad and Mr. Swastik Foils was amalgamated into the company in 1988-89. Kuldip Bhargava. Savitri Devi Jindal (Chairperson) Mr.000.812 18. w. 1983 on Delhi Stock Exchange Associations Limited.) BV (Rs. H.050 200. Jindal. Mr.409. Moosa Raza.

890.90 2001-02 46.58 2002-03 38. Foreign Institutional Investors Sub . b. 4.) 188.00 191. Insurance Companies (Central/State Govt. The company has engaged the services of a Registrar & Transfer Agent to handle the grievances of the investors. in crores) is given below: Equity Share capital Reserves and surplus (excluding revaluation Reserves) Sales (including Excise duty) PAT Dividend (%) EPS (Rs.00 Financial performance The financial performance of the company (Rs.32 76.90 287.68 754.Foreign Promoters Persons acting in concert Sub .Total Others Private Corporate Bodies Indian Public NRIs / QCBs Any other (please specify) Sub .00 2003-04 38. d. 3.874.07 100.26 11.95 236.702.50 235.) Stock Market Data Month October 04 November 04 December 04 January 05 February 05 March 05 NSE High (Rs. . Institutions/NonGovt.13 42.34 804.55 9.558 3.98 290. Institution.96 76.Total Grand Total No.30 56. 1.658 -2. Financial Institutions. 17.264 4. of shares % of shareholding A. c.00 236.00 182.05 215. 2005) on BSE was Rs.) 205.50 and the market capitalization was Rs.05 285. 2004 to March.52 -33. b.00 305.457.65 crores.90 High (Rs.32 - .50 304.25 c.30 235.50 -55.50 250.60 249.08 25% 19.30 244.631.00 BSE Low (Rs. Nil complaints were received and pending from Equity shareholders during the period December.100 -21.80 242. a. 287.) BV (Rs.800 45.) 183.40 Low (Rs.34 15% 10.Information Memorandum The shareholding pattern as on March 31.48 225. 2005 is as follows: Category Promoters Holding Promoters: .755.419 1763356 4864705 6262320 -12.00 192.659.41 91. a.24 25% 14. depending on the type of complaint. 1120. 2.88 4.35 The market price of shares of the company (as on April 5.) 200.43 102.Total B.98 335.05 180.35 242.25 212.979.37 0.Indian Promoters .05 -7.381 38.355 97. The average time taken by the company for redressal of complaints is up to 15 days. 1.458 4. Non Promoters’ Holding Institutional Investors Mutual Funds and UTI Banks.56 1123.60 242. 2005.

Gupta. The Board of directors of the company comprises Mr.96% 100.Total Others Private Corporate Bodies Indian Public NRIs / QCBs Any other (please specify) Sub . Institutions/Non. Foreign Institutional Investors Sub .84 10.Total GRAND TOTAL No. in lacs) is given below: Particulars Share capital (including preference share capital) Reserves and surplus (excluding revaluation reserves) Sales PAT Dividend (%) EPS (Rs. NON PROMOTER’S HOLDING Institutional Investors Mutual Funds and UTI Banks.33 - .89 Nil 74.04% - A. 2.59) 10. c.) FY-03-04 224 0.00 Nil 30. d.41) Nil (0. of shares 100 100 % of shareholding 0.Govt. L.75% 99. R. b. Financial Institutions.Total B. 1983 and is in the business of investment and trading in shares. b.37 (10) Gagan Trading Company Limited . R. Swami and Mr. 41300 198600 239900 240000 17. R.21% 82. 4. Insurance Companies (Central/State Govt. M. P.00% Shares of the Company listed in April. Mr. Shareholding Pattern The shareholding pattern is as follows: CATEGORY PROMOTERS HOLDING Directors Persons acting in concert Sub . 1983 on Calcutta Stock Exchange Association Limited and no trading has taken placed during last 6 months.89 Nil (203.) BV (Rs.82) 10.89 Nil (1. The Company has not issued any rights or a public shares in last five years. 3. a. c. a. Jain.37 FY-01-02 224 0.04% 0.Information Memorandum (9) Colorado Trading Company Limited This Company was incorporated on January 17. Financial performance The financial performance of the company (Rs. Institution. 1.37 FY-02-03 224 0.56) Nil (84.

68) 54.90 (3344.99 (193.91) FY 03 1715.65) (8.83 11. Nacho Investments Ltd. Rajeev Pai. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Sun Investments Pvt. It is into the business of investments.42) (12. R.) FY 04 1715.90 (3241.34 - .06 7. The shares of the Company are listed on the Calcutta & Uttar Pradesh Stock Exchanges. 1983 as a public limited company. The company is carrying on the business of investments.” with effect from March 29. 1997.71.59. The Company has not come out with any Rights or Public issue in the last five years.900 % of shareholding 21. P.30.R.90) 533.83 11.600 2. Templar Investments Ltd. K.000 20. Ltd. The company was reconverted into a private limited company on April 5.250 2.269. trading in securities and providing management consultancy services.100 2. Kole and Mr.79 102.000 3.40 11.30.75 *(0.60.R. 2002.25 . Jayaraman. trading in securities and providing management consultancy services.97) *(2. Mr.52) FY 02 1715.65) 471. Shareholders Sun Investments Pvt.N. Kole and Mr. Heston Securities Ltd.83 1.000 2. Board of directors of the company comprises Mr. Others Total Financial performance The financial performance of the company (Rs.00 * EPS has been arrived at after considering Dividend on Redeemable Cumulative Preference Shares. Ltd. No.90 (3150.83 11.53 6. Gagan Trading Co.30.000 20.68 7.369.564. Mr.64) (8.S.38) (9. Board of directors of the company comprises Mr.71 13.000 5.49.000 % of shareholding 39.564. Beaufield Holdings Ltd. Bavneesh Gulati. Estrella Investments Ltd.000 20.000 1. P. Sriram. Pentel Holdings Ltd. Sarmento Holdings Ltd.880.Information Memorandum The Company was incorporated on January 31.450 2.06 6.40) No. Heston Securities Ltd.45 100.30. (11) Vrindavan Services Private Limited (VSPL) Vrindavan Services Private Limited was incorporated on April 8.77 10. 1982 as a Private Limited Company and converted into a public limited company “Vrindavan Services Ltd. of Shares 7.30. Bavneesh Gulati.000 20.83 11. Beaufield Holdings Ltd. Mendeza Holding Ltd.) BV (Rs. of shares 67. Ltd.000. Mr.09 (2168.877.000 20. in lacs) is given below: Particulars Equity Share Capital Reserve and Surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.

Vavasa Investments Ltd.800 2. Ltd.300 2. Ltd. 2003. Pentel Holdings Ltd.00 0.000 710.13 50.Information Memorandum Templar Investments Ltd.35 - .119. Baltimore Trading Pvt. Ashok Goel. Ltd. Ltd. of Shares 29. Jindal Total Financial performance 2. Nacho Investments Ltd. Deepak Bhat and Mr.39 FY 03 3518.39 0. Ltd.73 5.269.” with effect from October 15.18 .01 58.001 401 36.94 0. The company is in the business of investing. Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Jindal South West Holdings Limited Jargo Investments Ltd.86 FY 02 1644.500 64.) (12) Sun Investments Private Limited FY 04 3629.000 340.400 1. 1990.69 17. Ltd.50 (121.00 The financial performance of the company (Rs.72 0. Mr.71 6. Ltd Mendeza Holding Ltd.94 0. Jindal Coated Steel Pvt.000 340.900 3.300 5.98 0.402 6.269.00 100. Garg.00 219.000 140. V.66 5.000 2.052.989. Aras Overseas Pvt.51 (31.33 Sun Investments Private Limited was incorporated on June 2. Mr. Sangita Jindal (Managing Director).711. Ltd. in lacs) is given below: Particulars Equity Share Capital Share Application Money Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs. Musuko Trading Pvt. Ltd.25 6.94 2681.27 4.760.25 1. Estrela Investment Co. Naman Enterprises Pvt.) BV (Rs.000 340. Wachovia Investments Pvt.700 4.89 5. Estrela Investment Co.000 65.300 11. The company was reconverted into a private limited Company on February 18. No.18 0.94 0.119. Jindal Holdings Ltd.40 355.09) 15.74) 11.55 7. Jindal Coated Steel Pvt. P.000 340.513. D. Jargo Investments Ltd.19 4. trading in securities and providing management consultancy services.24 2061.269.400 % of shareholding 40. Its board of directors comprises Mrs. 1981 as a private limited company and converted into a public limited company “Sun Investments Ltd.000 625. Sarmento Holdings Ltd.207.25 6. Mr.18 0.96 1. Ltd. J. Kamshet Investments Pvt.100 4.800 3.94 0.80) (0. Pentel Holdings Ltd.32 141.299.40 249.17) (0.

07 0. it is in the business of Investments and trading in securities.000 239.500 17.84 2. Savitri Devi Jindal Ms.100 39.01 0. Jindal (HUF) Mr.000 14.201. Abhuday Jindal Ms. Ms.04 0. Tripti Jindal Ms. Templar Investments Ltd. Jindal Ms.28 12649.01 0. R.04) 26.02 0. Vrindavan Services Pvt.800 6. The Company’s Board of Directors comprises of Mr.347. Naveen K.76 4051. Sminu Jindal Vrindavan Services Pvt.02 0.500 10.05 0.68 FY 03 7119.89 733. P .08 0.01 0. Shareholding Pattern The shareholding pattern is as follows: Shareholder Gagan Trading Company Ltd.27 11796.02 0. Sangita Jindal Mr. 1993 as a private limited company.100 10.000 46. of Shares 1.01 0.000 6.13 1828.46 12.) (13) Meredith Traders Private Limited FY 04 7149.03 0.59 1.033.01 0.75 4395.500 13.000 5. Kole and Mr.07 Incorporated on August 11.03 27.06 0.600 2.300 30.84 0.36 - .000 8.50 .000 % of shareholding 50. Vavasa Investments Ltd.001 898.30 10532. Ratan K . Om Prakash Jindal Ms.01 0.01 0.492.300 10.61 (28.02 0. Deepika Jindal Colorado Trading Co. Tanvi Jindal Jindal Strips Ltd.55 FY 02 5827. Puran Chand Sharma Total Financial performance 2. Ltd.033.Jindal O. Jindal Mr. Heston Securities Ltd.R. Everplus Securities Pvt. Mr.28 2.58) (0.00 100.22 0.Information Memorandum Beaufield Holdings Ltd.900 60.000 100 71. Tarini Jindal Ms.000 51.200 2. Ltd. Urvi Jindal Ms.00 The financial performance of the company (Rs. No.999 300. Mr.400 13. P. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation Reserve) Income PAT Dividend EPS (Rs.700 23. Deepak Bhat.20 161. Ltd.) BV (Rs.800 3. Mr.28 28. P.34 0.04 37. Ltd.

60 (330. Total Financial performance 1 1 2.99) 8. 1997.00 (4574. of Shares 1 1 2 % of shareholding 50. P.08) 19.86 54.45) 16. Ltd. Jayaraman and Mr.002 (670. Couldip Basanta Lala and Mr.00 The financial performance of the company (Rs.52 (90.12 (76.89) (14) Reynold Traders Private Limited The Company was incorporated on September 1.37 - .61) (16530489) (35772825) No. R. Dev Joory.11) 3030. The company’s board of directors comprises Mr.00 (15) Templar Investments Limited Templar Investments Limited was incorporated on June 30.) BV (Rs. Prithvi Raj Jindal.00 0.) FY 04 0.62) (3.13 2002-03 2400. Pradip Gaad. Mr.100 each) Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.Information Memorandum Gauri Investments Pvt. Shareholding Pattern The shareholding pattern is as follows: Shareholder Mrs. It carries activities of investments and dealing in shares and securities.00 (1889. Damani Mr.002 (725. .00 (4562.002 (715. It carries out activities of holding and letting out of property. Ltd. 1993.39) 14. 100 each) Reserve and surplus Excluding revaluation reserve Income PAT Dividend EPS Rs BV Rs 2003-04 2400.58 2729130 (33524543) FY 03 0.60 0.01 12. Board of directors comprises Mr. Kole.82 1801. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs. Sunil Damani Total Financial Performance The financial performance of the company (Rs.59 75. investments in capital markets and providing consultancy services.002 0.400. R. Sangeeta S.53 (9.07 21.00 100. Silky Investments Pvt.62) (481073) (36253673) FY 02 0.40) 115.00 100.00 50.19) (90. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs. Mr.31) 2001-02 2400.

Prithvi Raj Jindal.00 26.12.00 (16) Heston Securities Limited Heston Securities Limited was incorporated on June 30.00 2.12. It carries activities of investments and dealing in shares and securities. 1997.12.02 5000 10878633 3784318 3631866 -726 2177 31.00 100.000 % of shareholding 71.12.03 5000 11439760 572657 561127 -112 2289 31.000 1. Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Prithvi Raj Jindal Pradip Gaad International Trustees Limited Total Financial Performance The financial performance of the company (in US Dollars) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS BV 31.02 7000 10831910 3784920 3591007 -513 1548 31.00 100.000 % of shareholding 70. Mr.12.400 100 5.00 3. Pradip Gaad.00 28. Board of directors comprises Mr. of Ordinary Shares 5.800 200 7.03 7000 11396160 575602 564250 -81 1629 31. of Ordinary Shares 3. Couldip Basanta Lala and Mr.12. Dev Joory.00 .01 7000 7240903 3016130 2672687 -382 1035 No.01 5000 7296767 3015505 2670935 -534 1450 No.Information Memorandum Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Prithvi Raj Jindal Pradip Gaad International Trustees Limited Total Financial Performance The financial performance of the company (in US Dollars) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS BV 31. Mr.38 - .500 1.

12.00 100.39 - . of Ordinary Shares 999 1 1.03 1942 (3136527) 137015 31. Mr.02 1942 (533740) 63350 (148877) --31. Pradip Gaad. Tasoula Georgiou.00 .12.00 34.01 1942 (384863) 153638 45256 -45 -No. Board of directors comprises Mr. Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Prithvi Raj Jindal Other – Nominee Total Financial Performance The financial performance of the company (in US Dollars) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income 31.00 (18) Jargo Investments Limited Jargo Investments Limited was incorporated on July 29. It carries on activities of investments and dealing in shares and securities.12. Tasoula Georgiou. Andry Tryphonos and Mr. Mr.000 % of shareholding 99. Prithvi Raj Jindal. 1996. Andry Tryphonos and Mr. of Ordinary Shares 650 340 10 1.10 100. Board of directors comprises Mr.02 1942 (3266074) 63406 31. 1997.Information Memorandum (17) Vavasa Investments Limited Vavasa Investments Limited was incorporated on June 18.12. Prithvi Raj Jindal.12.03 1942 (424514) 116024 109264 -109 -31. Pradip Gaad.000 % of shareholding 65. Mr.90 0. Mr.12. It carries on activities of investments and dealing in shares and securities.01 1942 (3063112) 39504 No.00 1. 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.

000 1.00 100. of Ordinary Shares 3.00 Beaufield Holdings Limited was incorporated on June 30.000 % of shareholding 55.900 100 5. Mr.Information Memorandum PAT/(Loss) Dividend EPS BV 129548 -130 -- (202962) ---- (497541) ---- (19) Sarmento Holdings Limited Sarmento Holdings Limited was incorporated on June 18. It carries activities of investments and dealing in shares and securities.00 2. Dev Joory. 1997. It carries on activities of investments and dealing in shares and securities. The company’s board of directors comprises Mr. 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 (20) Beaufield Holdings Limited 31. Tasoula Georgiou.50 0. Prithvi Raj Jindal. of Ordinary Shares 550 445 5 1.12.01 1942 (435239) 172323 (10648) ---No. Board of directors comprises Mr. 1997.12.000 % of shareholding 60.50 100. Pradip Gaad.40 - .12. Andry Tryphonos and Mr. Couldip Basanta Lala and Mr.00 44.00 38.03 1942 (424786) 133418 126504 -126 -31. Pradip Gaad.00 .02 1942 (551289) 61227 (116050) ---31. Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Prithvi Raj Jindal Pradip Gaad International Trustees Limited Total Financial Performance The financial performance of the company (in US Dollars) is given below: No. Mr. Prithvi Raj Jindal. Mr.

12. of Ordinary Shares 660 330 10 1.00 100. Board of directors comprises Mr.00 33. It carries on activities of investments and dealing in shares and securities.01 5000 7169378 2997354 2615193 -523 1435 Pentel Holding Limited was incorporated on June 30. Couldip Basanta Lala and Mr. Prithvi Raj Jindal.00 1. Dev Joory.00 Mendeza Holdings Limited was incorporated on June 18. 1997. Board of directors comprises Mr.500 1.00 .03 6000 11309499 569872 558239 -93 1886 31.00 2.03 5000 11464486 685951 673039 -135 2294 31. Mr. Mr.02 6000 10751260 3783357 3590681 -598 1793 31. Prithvi Raj Jindal.02 5000 10791447 3786975 3622069 -724 2159 31. Tasoula Georgiou. 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 6000 7160578 3014513 2569236 -428 1194 No.Information Memorandum Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS BV (21) Pentel Holding Limited 31. Andry Tryphonos.12.12.41 - . It carries activities of investments and dealing in shares and securities. Mr. of Ordinary Shares 4.12.00 100. Pradip Gaad. Pradip Gaad and Mr.00 23. 1997.000 % of shareholding 66.000 % of shareholding 75. Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Prithvi Raj Jindal Pradip Gaad Other – Nominee Total No.400 100 6.12. Mr.12.

12.02 6000 10794110 3795749 3630810 -605 1800 31. Tasoula Georgiou.00 100. Pradip Gaad.03 1942 (537985) 144577 132778 -133 -31. Mr.Information Memorandum Financial Performance The financial performance of the company (in US Dollars) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT/(Loss) Dividend EPS BV 31.12. Prithvi Raj Jindal. Pradip Gaad and Mr.02 1942 (670762) 63359 (126928) ---31.00 (24) Nacho Investments Limited Nacho Investments Limited was incorporated on April 18.12. 1997. Dev Joory.12. Board of directors comprises Mr. It carries on activities of investments and dealing in shares and securities. 1997.00 2. Mr. The company’s board of directors comprises Mr. of Ordinary Shares 4.12.000 1.00 31.03 6000 11381086 600079 586976 -97 1898 31.000 % of shareholding 67.12.42 - . Shareholding Pattern The shareholding pattern is as follows: . It carries activities of investments and dealing in shares and securities. Prithvi Raj Jindal.01 6000 7163300 3002215 2547719 -425 1195 No. 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. Andry Tryphonos. Mr. Couldip Basanta Lala and Mr. Mr.01 1942 (543834) 184478 (13371) ---- (23) Estrela Investment Company Limited Estrela Investment Company Limited was incorporated on June 30.880 120 6.

79 .03. which is engaged in production of Sponge Iron. Sushil K.000 % of shareholding 55. Naveen Jindal..Indian Promoters i) Corporate Bodies + Resident Indian No. Vikrant Gujral. Mr. parallel flanges and billets.12. Raigarh and Raipur divisions of Jindal Strips Ltd. M. which was converted into a public limited company ‘Orbit Strips Ltd. were transferred to and vested in the company from April 2. 1998.03 1942 (446781) 136498 130292 -130 -31.00 1. Subir Bisht.43 - .Information Memorandum Name of Shareholder Prithvi Raj Jindal Pradip Gaad Other . of Shares % of Shareholding 16256093 52. Mr. Anand Goel.12.00 44. of Ordinary Shares 550 440 10 1. Mr. Pursuant to a Scheme of Arrangement between Jindal Strips Limited and the company as sanctioned by the Honorable High Court of Punjab & Haryana under Section 391 to 394 of the Act. Gupta.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. Subsequently. Mr. Mr. Mr.02 1942 (577071) 63395 (104145) ---31. the name of the company was changed to Jindal Steel & Power Ltd. A 1 Category Promoter's Holding Promoters . Ltd. blooms.Nominee Total Financial Performance No. Ratan Jindal. The company’s unit at Raipur is engaged in machining. 1998. Mr. Shareholding Pattern The shareholding pattern as on 31. Mr.’ on May 27. No. The company has captive iron ore and coal mines at Tensa in Orissa and Mand area in Raigarh in Chattisgarh respectively. The company has a unit in Raigarh. Maroo and Mr. 1998. L. Singh Pasrich. on June 12. Amir Z. Harsh Vardhan Lodha.01 1942 (472926) 163626 (17783) ---- (B) (1) Promoter Group Companies Jindal Steel & Power Limited (JSPL) The company was incorporated on September 28. Ferro Chrome and Steel Products like slabs.00 100. 1979 as Orbit Strips Pvt.12.2005 is as follows: Sr. The board of directors of the company comprises Mr. Rajendra Singh. It is also engaged in generation of power.

35 964.00 692.00 1259.00 833.00 851.00 1262.00 1103.63 558.43 c 4 a b c d 3795642 5592768 1420514 4546914 510135 45044 6522607 30792268 12.61 14.33 654.90 1030.15 21.05 915.77 1.40 and the market capitalization was Rs.90 452. in crores) is given below: Particulars Equity Share capital Reserves and surplus (excluding revaluation reserves) Sales (including Excise duty) PAT Dividend (%) EPS (Rs. 1044.50 821.) 623. Financial Institutions.18 1.86 60.49 305.) 796.80 1561.66 0.00 860.00 The market price of shares of the company (as on March 31. Insurance Companies (Central / State Govt Institutions/ Non-Government Institutions) FIIs Sub-Total Others Private Corporate Bodies Indian Public NRIs/OCBs Any other Sub-Total GRAND TOTAL 2420800 NIL NIL 18676893 7.Information Memorandum 2 B 3 a b ii) OCBs+Non Resident Indian .41 0.) 795.79 145.22 107.00 1000.00 920.00 1000.44 - .22 277 2002-03 14.00 Low (Rs.00 2001-02 12. 2005) on BSE was Rs.00 180.18 100.08 125% 52.40 839.00 1104.55 70% 38.65 1664578 132548 5.46 200% 100.00 1026.00 628.00 964.) 663.00 BSE High (Rs.33 18. 3215 crores.) BV (Rs.00 195.16 4. 05 March.00 2003-04 15. 05 NSE High (Rs.109.) Stock Market Data Month October 04 November 04 December 04 January 05 February. .00 Low (Rs.35 824.Foreign Promoters Person acting in concern Sub-Total Non-Promoters Holding Institutional Investors Mutual Funds and UTI Banks.95 834.00 Financial performance The financial performance of the company (Rs.

blooms.845 ii Gagan Trading Co. 2001 and further to Jindal Stainless Limited on January 27.05 3.375 xiii OCBs 8. April 1. 2002 (the appointed date).Ltd 4. Mr.55 1.454. Mr. vide Punjab & Haryana High Court order dated May 31. R.50 2. Under the scheme of Arrangement and Demerger among Jindal Strips Limited and Jindal Stainless Limited.735. The company was originally incorporated on September 29. 2003. 2. 1980 as Jindal Ceramics Limited. Resolved/Replied: 50 and pending: 1 (2) Jindal Stainless Limited The company was promoted by Mr. hot rolled and cold rolled coils.f. Ltd. C. powers and liabilities in respect to stainless steel undertaking stood transferred to and vested in Jindal Stainless Limited w.19 4.555 xii Saw Pipes Ltd.45 1.078. N. Rajinder Parkash.800 xi Jindal Equipment Leas & Con. Ratan Jindal. Dr.707. Mathur. 1.710 xiv Others 5. A.835 v Mansarover Investments Ltd.210 vi Nalwa Investments Ltd.443.G. Ltd 5.946.K. asset. Garg and Mr. Ltd 2. 2005 is as follows: Sr. Singhal.com Limited on January 25. 3.705 x Hexa Securities & Finance Co.797. the stainless steel undertaking from Jindal Strips Ltd with all the property.295 iii Sun Investments Ltd 9. L.999. 2.31 0. Particulars of investor complaints during the period January to March 2005 are as follows: Opening balance: 1. of shares held No. Suman Jyoti Khaitan./Jindal Saw Ltd. The name of the company was changed to Jindal Int.45 - . 1.Information Memorandum The investor grievances received by the company are handled through secretarial office of the company and through the Registrar & Transfer Agent engaged by the company. Complaints Received: 50.315. Ltd.46 1.780 iv Everplus Securities & Finance Ltd 1. 2003.080 ix Vrindavan Services P. rights.615. depending on the type of complaint.290 % of shareholding 1.23 8. Naveen Jindal. flat bars. Mr. Mr.11 5.110 vii Stainless Investments Ltd.945 viii Manjula Finances Ltd 1.38 8.157.22 2.296.410. The board of directors of the company comprises Smt. Category No. Ser. Shareholding Pattern The shareholding pattern as on March 31.92 4. Savitri Devi Jindal (Chairperson) Mr. Promoter’s holding 1 Promoters: Indian Promoters: I Colorado Trading Co. 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.012. The average time taken by the company for redressal of complaints is up to 21 days.89 2.92 . plates and sheets.e. Ratan Jindal. 2.

115 975 40.) 93.997. b.17 20. Sub-total (3) Others: Private Corporate Bodies i.437 16.998.) 94.50 Low (Rs.00 d.223.Information Memorandum 2 B.760 2.30 58.524 1.) 77.10 1.909.20 2003-04 19.269 4.697.727.423 1.498 520.883. i.189.80 100.93 90.500 7.41 51. Institutions / Non.00 36.) 76.38 2. -Foreign Promoters Persons acting in concert Sub-total (A) Non-Promoters Holding Institutional Investors Mutual Funds and UTI Banks.58 164. Latin American Investment Bank Bahamas Ltd.19 100% 17.) Stock Market Data Month October 04 NSE High (Rs.810 52.93 0.10 1.499 109. Insurance Companies (Central/ State Govt.932.345 0.57 2002-03 13. American Express Bank Ltd ii Life Insurance Corporation of India iii Others FIIs.272 22.55 2.98 530. in crores) is given below: Particulars Equity Share capital Reserves and surplus (excluding revaluation reserves) Sales (including Excise duty) PAT Dividend (%) EPS (Rs. 3 a.46 - .01 48.00 High (Rs.15 60% 9. b.83 391. c. 4 a. Others (FIIs) 5.30 BSE Low (Rs.070 0.977.19 4.891 56.20 269.47 15.54 c. ii FID Fund Mauritius Ltd.02 0.608 2. Financial performance The financial performance of the company (Rs.204.909.08 55.24 2605.80 1989. Indiabulls Financial Services Ltd Ii Others (Companies) Indian Public NRIs/ NRI Companies/OCBs i.24 9.) BV (Rs.844 2.656 9. Financial Institutions. ii Others Any other (pending allotment) Sub-total (4) Sub-total (B) Grand-total (A+B) 3.48 7.022.220.Government Institutions) i.0007 (0.13 2001-02 0.0001) - .

16 13.11 5. Vrindavan Services Pvt. 1997.04 0.318. Kamshet Investment P.318.U.K. Jindal Holdings Ltd.21 7.04 0.000 1.33 2. Brahmputra Cap & Fin Ltd.F P.65 5.000 590.86 crores.75 90. The Company is engaged in the business of finance.318.15 87. Ltd.00 . Baltimore Trading P. Gagan Trading Co Ltd.520. The average time taken by the company for redressal of complaints varies from 7 to 25 days.F O.86 2.00 0.95 106.81 5.000 1.Information Memorandum November 04 December 04 January 05 February 05 March 05 89.50 91.P.170.81 5. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Naveen Jindal H.000 10.75 91.70 91.000 10.40 96.81 5.000 2. Mr. Ltd. Jindal & Sons H.00 11. Board of Directors includes Mr.17 11.000 3. Manjula Finances Ltd.U.000 10 10 2.55 110.20 88.400.47 - .90 111.98. Musuko Trading P.81 100.000 22. 2005) on BSE was Rs. Ashok Goel.000 1. Total Financial performance No. Resolved/Replied: 478 and Pending: 12. Ltd.05 80. of Shares 10.010. D.90 78.000 10.00 87. 1995 and became Public Company with effect from March 31. P. Sunil Mittal. Jindal & Sons H.000 1.675.40 96.570. Ltd. Sharma and Mr.000 2.000 500.04 0.00 78.000 10.25 and the market capitalization was Rs.F Master Parth Jindal R.32 2.60 6. Particulars of investor complaints during the period April 2004 to March 2005 are as follows: Complaints Received: 490.000 1.U.04 0. Aras Overseas P. depending on the type of complaint. Ltd.015.30 8.U.318. (3) Manjula Finances Limited The Company was incorporated as Private Limited on February 1.000 600.04 0.318. is NBFC (not accepting public deposit).000 1.R.00 80. Jindal H. 1079.000 1.000 1. Wachovia Investment P.81 5.660. The company has engaged the services of a Registrar & Transfer Agent to handle the grievances of the investors.10 81.70 80.020 % of shareholding 0.F Manju Bansal Tanu Bansal Stainless Investments Limited Mansarover Investments Limited Goswami Credits & Investment Limited Ever Plus Securities & Finance Limited Renuka Financial Services Limited Abhinandan Investments Ltd. Investment and finance related consultancy services.00 The market price of shares of the company (as on March 31. Ltd.95 106.

000 10 10 4.25 2.95 2.670.75.200 NIL 40.19) NIL (0.78) 2.533.05 0.) FY03-04 226.00 0.56 FY02-03 226. The Board of Directors comprising of Mr.726.000 10.445. Sharma.53 6.2 (12.73 11.020 Equity Shares of Rs.220.590.970. Ltd.509.05 0.17 FY01-02 226. 1997.000 486. P.802.500.500. Wachovia Investment P. D.620.858.000 1.200 NIL 26. Ltd.55) NIL (0.25 2. of Shares 10.827.300.26.05 0. Ltd. Ltd.02 7.14 2. 1995 and became Public Limited with effect from March 31.) BV (Rs. Musuko Trading P.95 6. Nalwa Investments Ltd.000 10. Aras Overseas P.05 0.40 2.25 2. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder P.000 486. Jindal Naveen Jindal H.020 % of shareholding 0.871.200 NIL 6.00 18.Information Memorandum The financial performance of the company is given below Particulars Share capital 2.000 1. Baltimore Trading P. Kamshet Investment P.000 10.000 590.6 (17.000 486.74 8. Parmod Garg. Jindal O. Mr.000 1.000 1.750.000 21.000 2.000.R. Ltd.4 8.P.000 2. Ltd.355.750. 10/-each Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs.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.000 1. The Company is NBFC (not accepting public deposit) and engaged in the business of finance.71 (4) Renuka Financial Services Limited The Company was incorporated as Private Limited on February 1.25 2.55) 2. Vrindavan Services Pvt.00 .000 1. Vivek Goel and Mr.660.000 10.20 7.69 6.25 100 .750.34 NIL 0.020. Gagan Trading Co Ltd Jindal Holding Ltd.05 0.000 486.770.000 486.48 - .500. Investment and finance related consultancy services. Total No.U.58 12.

100/-each Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs.000 1.02 2.000 Preference Shares of Rs.590. Ltd. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Deepika Jindal P.200 FY01-02 215.670.32 14.000 710.000 3. subscribed & Paid-up) 21.00 .27 21.36 (5) Ever Plus Securities & Finance Limited The Company was incorporated on November 24.924.12 NIL 5.000 21.34 3. 10/-each 1.) BV (Rs. 1994 as Private Limited and later on became public Company with effect from March 31.27 2.90 7. Sanjay Agarwal.94 8.015.F Naveen Jindal H.020 Equity Shares of Rs. Jindal H.00 0.000 10 10 3.05 0.05 0. Investment and finance related consultancy services.588. The Board of Directors comprising of Mr.750.05 0.38 5.000 1.000 NIL 98977652 605.900.000 NIL 161907596 102.000. Vivek Goel and Mr.170.00 14.55) NIL (1. of Shares 10. Total Financial performance No.900.000 4.40 100.025.R.17 10.950.000 500.56 7.000 10. 1997.10) 2.U.38 14.000.000 3. The Company is NBFC (not accepting public deposit) and engaged in the business of finance.13 7. Deepak Goel.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.200 FY02-03 215.000.49 - .625.4 NIL NIL 18754323 (23.020 % of shareholding 0.Information Memorandum Financial performance The financial performance of the company is given below Particulars Share capital (Issued.000 10.) FY03-04 215.05 0.05 0.67 NIL 0.500.000 1.00.200 10.000 1.660.754.000 10.900.000 10. Mr.U.000.

The company is engaged in the Business of Cast Iron Foundry and changed the activities in heavy & Light Engg. Gupta. b. a.Govt.200 NIL 36.606.04% - c.250.270 (80.08% 5.96% 100. Works (P) Ltd and later on the name was changed to Nalwa Engg.82) NIL (0.56) FY01-02 210. Promoters Holding Directors : Persons acting in concert Sub . 1984 on The Calcutta Stock Exchange Association Limited and no trading has taken placed during last 6 months. Financial Institutions. B. 193342 108810 16967 319119 319219 60. Financial performance The financial performance of the company is given below .200 NIL 148. a. L.200 NIL 12. P. R. Jain. of Shares 100 100 % of shareholding 0.323.966) NIL (2. The Board of Directors comprising of Mr. Institutions/Non. 3.439 108. Co. 1. 1984. since December 21. d. R.50 - . jobs under S. 1983.Total GRAND TOTAL No.250.16 3. c. 2. Institution. 1957 as Sree Iron Foundry & Engg.643.6 FY02-03 210. 4.01) (1.04% 0. Foreign Institutional Investors Sub .57% 34.56) (6) Nalwa Engineering Company Limited The Company was incorporated on December 3. M.I.Total Others Private Corporate Bodies Indian Public NRIs/QCBs Any other (please specify) Sub .187.026 (42. Mr.00) (1.00% Shares of the Company got listed in September.31% 99. Shareholding Pattern The shareholding pattern is as follows: Category A.S.) FY03-04 210. Insurance Companies (Central/State Govt.377.) BV (Rs. b.250. Swami and Mr. Ltd.629.65 NIL 5. on October 25. R.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.Total NON PROMOTER’S HOLDING Institutional Investors Mutual Funds and UTI Banks.

92 4.U. Deepak Goel. 1995 and became Public Limited with effect from March 31.92 4.670. 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. Total No.67 6.000 1.61) Nil (10.200 50.855. Musuko Trading P. Jindal Master Parth Jindal Master Abhuday Jindal Manju Bansal Renu .15 2.000 2.00 0.33 8.170.05 0.65 2.05 0.00 8.65 2.27 (Rs.000 10.000 496.000 500.Information Memorandum Particulars Share capital Reserves and surplus (excluding revaluation reserves) Sales (Including Other Income) PAT Dividend (%) EPS (Rs.22) 11.220 % of shareholding 0.000 5.427. 2002.05 33.85 11.722. Abhinandan Investments Ltd Nalwa Investments Ltd Bhramputra Cap.000 1.55 12. Mr.000 496. & Finance Ltd M\s Silver smith Gagan Trading Co.F Savitri Devi Jindal Om Parkash Jindal P.47 (54.62 0.000 5. Aras Overseas P.65 2.000 590. Ltd.05 53.000 1.56 (32.92 4.03 0.000 2. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Naveen Jindal H.82) Nil (17.05 0. Kamseth Investment P. On December 5.17) 11. In lacs) FY-01-02 31.25 4.25 7. Wachovia Investment P.65 100. Ltd.S. Baltimore Trading P.000 496.000 810.000 10 10 1.000 18.000 496.420.83 Nil 11.000 10.500.05 0. Ltd.00 .000 10.000 496.20 15.000 2.27 FY-02-03 31.27 3. The Board of Directors comprises Mr. Ltd. Ltd.000 600.93 3.27 (7) Goswamis Credits & Investments Limited The Company was incorporated as Private Limited on January 13. Sunil Mittal. Ltd. Vivek Goel and Mr.) FY-03-04 31. Ltd. of Shares 10.R.03 0.600. the Company got registered with Reserve Bank of India as Non Banking Financial Company (not accepting public deposit).65 2.) BV (Rs.38 37.35 2.51 - .92 13.05 28. 1997.

Ms. --94.02 --- --- c. 1984.05) NIL (0.397.f.00 The Company’s Equity Shares are listed on The Delhi Stock Exchange Association Ltd.222.79) 1.10.57) NIL (0.) (8) FY03-04 187. Sminu Jindal.Total GRAND TOTAL No.52 - . d.85) 2. In the year 1996. K.e. Institutions/NonGovt.11. 1956 and since then there is no manufacturing activity in the Company. Persons acting in concert B.222. 3. June 5. .95 -46.750 1.600 -96.Total Others Private Corporate Bodies Indian Public NRIs / QCBs Any other (please specify) Sub . D. The name of the Company was later changed to Jindal Seamless Tubes Ltd.000 --45.7 (16. The Board of Directors comprises Mr.19 1. of shares % of shareholding 14.904. b.871.626.962. 4. a.Total NON PROMOTER’S HOLDING Institutional Investors Mutual Funds and UTI Banks. Shareholding Pattern The shareholding pattern is as follows: CATEGORY A. June 28.30 FY01-02 187. 1979 as Nalwa Steels Ltd.) BV (Rs.e.103. a. Goel.f.07 53. PROMOTERS HOLDING 1. Promoters: . 21 lakhs. As the paid-up capital of the Company is only Rs.005. w.750 --98. the manufacturing activities were disposed off under the provisions of Section 293(1)(a) of the Companies Act.200 NIL 3.134.. Sub . Financial Institutions.92 FY02-03 187.350 6. P.789.900 3.38) 0.08 (excluding Jindal Seamless Tubes Limited The Company was incorporated on April 12.222. Mr.73) NIL (0.650 2.362.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.377.Foreign Promoters 2. Jindal. Institution. 1992.430 (7. New Delhi w.79 --46.200 NIL 11. c.98 100. Hot and Cold Rolling Mills. Sandip Sharma and Mr. b. R.3 (14. Foreign Institutional Investors Sub . there has not been any trading in the shares for the last several years. It was incorporated for carrying on the business of continuous cast.200 NIL 2. Insurance Companies (Central/State Govt.Indian Promoters .

08 (204. Ltd Nalwa Investments Ltd Swastik Udyog Ltd.78) (209.885.25 9. Ltd Gagan Trading Co. 1971 and became Public limited with effect from July 30.9) FY02-03 2. Jindal (till March 31.04 (15.98 100.Jindal Jindal Strips Ltd Total Financial performance The financial performance of the company is given below Particulars Share capital (Equity Shares of Rs.80) 13.37) The Company was incorporated as Private Limited on June 16.400 130. P.R.52) FY01-02 2.005.971. The Company is engaged in the property business. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Savitri Jindal O. S.000 Nil 1.405.79 (23.60) Nil (7. Savitri Devi Jindal and Mr.51) (Rs.250 1.22 (384.29) FY02-03 21.922.85 (297.130 159. 100/each) Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs.125.370 10 3. S.98 9.00 ./ Jindal Saw Ltd Naveen Jindal Abhinandan Investments Ltd Ratan Jindal Stainless Investments Ltd P.) BV (Rs. O.75 9.36 (197.050 % of shareholding 0. 2005).93) (118. Jindal Colorado Trading Co.41) Nil (175.100 2.405. Saxena.400 2.24) 5. In lacs) FY01-02 21.) (9) Rohit Tower Building Limited FY03-04 21.400 2.18 NIL 10.51 4. P.40) NIL (46.96) No.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.405.14) (125.000 Nil 1.760 (1.85 (258.) BV (Rs.400 24.12 0. Smt.56) Nil (10.360.78) (136.98 21.400 2.04 13. 1986.85 (274.000 Nil 1.85 0.64) 162.400 5.53 - .229. The Board of directors of the company comprises of Mr.15 NIL 16. of Shares 30 60 2.230 2.57 9.98 9.) FY03-04 2.98 9.

Sharma and Mr.488. The Company is NBFC and holds investment in other Companies.86) (11) Brahmputra Capital And Financial Services Limited The Company was incorporated on June 14.869.17 1.023.) BV (Rs. 2002. Parmod Garg. Mr.859.) – 281 403. 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. Mr. In lacs) FY01-02 2.Information Memorandum (10) Hexa Securities & Finance Company Limited This Company was incorporated on November 23.550. D.83 Nil 1.45 Nil 0.25 (11.17 1.550.17 1.) FY03-04 2.16 63.200.000 % of shareholding 0. Aggarwal. Pvt. Area.54 - .590.00023 49. Kosi Kalan. Distt.800 500. R.Bansal Nominee of Jindal Strips Ltd Total No. Mathura (U. It was converted into Public Limited Company on December 3. of Shares 100 20.000 19.08 0. Ltd.98) 509. Ranjit Malik and Mr. Shareholding Pattern The Company is 100% subsidiary of Jindal Saw Ltd.00 (2.000 500.81) 295. 1995.000 520.58 Nil 0. 1994.22 1. Rajesh Aggarwal.000 500. UPSIDC Indl.17 45.00 (3.21) (Rs.000 500. P.66 163.00 (2.000 100 42.K. having its registered office at A-1. The Board of directors of the company comprises Mr. Nandgaon Road. The Company was incorporated as Private Limited and became Public Limited with effect from May 4.45 (9. The company is Non-Banking Financial Company (not accepted Public deposits) registered under Section 45-IA of the Reserve Bank of India Act. Arvind Kiran Aggarwal.550. 1994 as Hexa Securities & Finance Co.P.00 .00023 100. K.15 370.00 1. The Board of Directors of the Company comprises Mr.26) 74. 1934. 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.64 (11.76) FY02-03 2.

316.36 1918 FY02-03 100.450.900. Raj Kumar Nahata.10 19.900.) BV (Rs.00.500) 7%Redeemable Cumulative Preference Shares of Rs.721.90 100.464 FY02-03 425.43) Nil (0.0066) 9.000 Nil Nil Nil Nil Nil Nil 7.259 20.000 Nil 118.164 (1. Saraf and Mr.00 No. 2004 the name of the said company was changed to Gagan Sponge Iron Private Ltd.55 - . 100/.380 (156.000 145.79 Nil 2059.09) Nil (109. Ltd.296 (30.70 21.) (12) surplus (excluding revaluation FY03-04 425.115.350) Nil (0. Investment and finance related consultancy services.00 (13) Opellina Finance & Investment Pvt.717. The Company is engaged in the business of finance.000 83.000 Nil 36.900.R Jindal Shallu Jindal Total Financial performance The financial performance of the company is given below Particulars Share capital 10.10/-each 1. K.399) Nil (0.000 % of shareholding 80.869 (279.990 10.000 Equity Shares of Rs.150. On January 13.00071) 9.) BV (Rs.0037) 9. Ltd.667.000 10 1.468 Gagan Sponge Iron Private Limited The Company was incorporated on February 24.000 Nil 188.097. 1956 under the name of Navin Sponge Iron Pvt.000 19. of Shares 8.000 (831.4 FY01-02 425. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Naveen Jindal P.each Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs.79) (102) FY01-02 1. 1989 under the Companies Act. The Board of directors of the company comprises Mr.000 Nil 15.201.000.00 0. R.) FY03-04 100.103.946.Information Memorandum Financial performance The financial performance of the company is given below Particulars Share capital Reserves and reserves) Sales PAT Dividend (%) EPS (Rs. .

000 Nil 219.14 0. R.) (14) Baltimore Trading Private Limited 100.” with effect from March 23. 1995 and is engaged in the business of finance.40 16.600 1.202 % of shareholding 36.000 19.10/-each 19.13 0.600 119. Ltd. Ltd.452. of Shares 8. of Shares 260.98 0.110.00 The Company was incorporated on December 9.217. The Company was reconverted into a private limited company on July 26.2) FY03-04 FY02-03 FY01-02 No.348 Nil 2.000 Equity Shares of Rs.00 20. 100/.598 21.000 % of shareholding 80.670.144.26. 2002. Ltd.693) Nil (114) (178) 1.065 1892. Ltd.000 Nil Nil Nil (264.each Reserves and surplus (excluding revaluation reserves) Sales PAT Dividend (%) EPS (Rs. Starlight Equifin Pvt.15 0.700 (7.00 .92 28. 1998.00. Jindal Equipment & Leasing Consultancy Services Ltd. Ltd. Surendranath and Mr.646 (1.) BV (Rs. Animation Finvest Pvt. Anand Goel.Information Memorandum The Company was incorporated on March 20.4) (69. K. The Company’s board of directors comprises Mr. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Vrindavan Services Pvt.098) Nil (26.13 0.00 100. V.000 950 900 2 704. The Board of directors of the company comprises Mr.16 0. Welworth Equifin Pvt. Ltd.000 192.41. TOTAL No. 1994 as a private limited company and converted into a public limited company “Baltimore Trading Ltd.000 200.98 16.56 - .5 100. Jindal Holdings Ltd. Saraf and Mr. Gagan Trading Co.050 1. Investment and finance related consultancy services.000 2.475 20.100 1. Wavelength Capital & Finance Pvt.00 100. Gati Securities Pvt. Deepak Bhat. Ltd. Ltd. Naman Enterprises Pvt.100) 0% Cumulative Redeemable Preference Shares of Rs.000 119. It is mainly in the business of investments and trading in securities.000 10. 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 10.000 74.651.

03) 31.20 (482. The company was reconverted into a private limited company on August 9.25) (0.20 (482. in lacs) is given below : Particulars Equity Share Capital (Shares of Rs. Dileep Bhatt.” with effect from March 23. Kole and Mr.30) (0.02) 31.87) 2001-02 806. This company is in the business of investing and trading in securities. V. Jindal Holdings Ltd.04) 31. The company was reconverted into a private limited company on July 26. Garg. Ltd.83) 2002-03 806.000 27. of shares % of shareholding 260. 1998. Shareholding Pattern The shareholding pattern is as follows: Shareholder Vrindavan Services Pvt.60 (933.603 100 Financial Information The financial performance of the company (Rs. Mr.58) 0. P. 1998.04) (15.) FY 04 704. 100 each) Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS Rs BV Rs 2003-04 806. The company is in the business of investments and trading in securities.300 21.49 148. Rajeev Pai.04) (15. 1994 as a private limited company and converted into a public limited company “Aras Overseas Ltd. Vijay Maniar Total No.300 18.76) (15.100 each) Reserve and surplus Excluding revaluation reserve Income PAT Dividend EPS (Rs.” with effect from March 23. Mr.Information Memorandum Financial Information The financial performance of the company (Rs.24) (47. Atul Sud Mr.005 (0. 2002.60) (0.29) (0. The Board of directors comprises Mr. R.57 - .) BV (Rs. Mr.47 FY 02 704. Surendranath and Mr. . Ltd.39 2 0.00 1 0.42) 20.20 (482.31) (0. Jindal Equipment & Leasing Consultancy Services Ltd. Apurva Jhalani.00 806.33) (0. The Board of directors comprises Mr.000 32. in lacs) is given below: Particulars Equity Share Capital (shares of Rs.43 FY 03 704.P.60 (934.00 (0. V. 1994 as a private limited company and converted into a public limited company “Kamshet Investments Ltd.99) (385.88) (0.49 (15) Kamshet Investments Private Limited It was incorporated on November 16.79) (16) Aras Overseas Private Limited The company was incorporated on September 7.60 (934. Gagan Trading Co.89 173. 2002.17) (0.23 225.

48 FY 02 633. Ltd.27) (0.000 164. Ltd.002 77.00 (351. of shares 260. Gati Securities Pvt.320 1. No.23 0. Shareholding Pattern The shareholding pattern is as follows: Shareholder Gagan Trading Co.63) (0. Ltd.45) (0.41) 0.51 15.04) 44.65 16. Total Financial Performance The financial performance of the company (Rs.68) (0. Jindal Holdings Ltd. Kole and Mr. Ltd. Ltd. Ltd. Wavelength Capital & Finance Pvt.07) 44.” with effect from March 23. Animation Finvest Pvt.505 96. Ltd.28 0.07 27. Animation Finvest Pvt. Ltd. 2002. Wavelength Capital & Finance Pvt.16 100.18 26.) FY 04 633.22 0.012 % of shareholding 28.) BV (Rs. 1994 as a private limited company and converted into a public limited company “Wachovia Investments Ltd.79) (0.00 (17) Wachovia Investments Private Limited This company was incorporated on November 16. Naman Enterprises Pvt.360 2 633. P. Naman Enterprises Pvt.505 1.46 12. Ltd.020 621.41 16.000 107. Ltd.000 102. It is mainly in the business of investments and trading in securities. of shares 175.44 FY 03 633. Jindal Equipment Leasing Consultancy Services Ltd.98 13. Vrindavan Services Pvt.000 175. Jindal Holdings Ltd.500 82.17 0. Ltd. Ltd.58 - .080 1.29 0.440 1.58 No. Welworth Equifin Pvt.380 1. Mr.25 0. 100 each) Reserve and surplus Excluding revaluation reserve Income PAT Dividend EPS (Rs. Ltd. Ltd. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.00 (351.00 100.21 0.500 1.840 1.19 0. Jindal Equipment Leasing & Consultancy Services Ltd. Gagan Trading Co. Rajeev Pai.Information Memorandum Shareholding Pattern The shareholding pattern is as follows: Shareholder Vrindavan Services Pvt.03 0. 1998.21 0.005 (0.760 1.48 0. Its board of directors comprises Mr.600 1.200 1. Welworth Equifin Pvt. Gati Securities Pvt.00 . Starlight Equifin Pvt. Starlight Equifin Pvt. The company was reconverted into a private limited company on August 9. Ltd. R.00 (350. Ltd.10) 44.002 % of shareholding 41. Deepak Bhat.

64 FY 02 2. Vrindavan Services Pvt.01 (759. 1994 as a private limited company. Rashmi Khaitan Financial performance The financial performance of the company (Rs. Krishne Gowda.63) (0. P. K.000 5. The company was reconverted into a private limited company on August 26.Information Memorandum Financial Performance The financial performance of the company (Rs. This company is in the business of real estate development. Dileep Bhatt. Rajiv Khaitan Mrs.70 (2. Chari and Mr.N. Rishikesh Finlease & Investments Pvt.70 0.46) 0.50 18.R.04 100. Meredith Traders Pvt. Ltd.07) (0.50 18. P. Gagan Trading Co.01 (758. P.70 (2.84 (4.51) (2.S.70 3. Ltd.59 - . in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.04 0.64 FY 03 2.26) 9.100 each) Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.70 0. Mr.020 % of shareholding 18.40) (22.99) 2002-03 621.08) (22.01 (763.) 2003-04 621.14) (18) Argil Properties Private Limited (APPL) APPL was incorporated on July 6. Sandip Sharma Mr.) FY 04 2. S.00 (19) Musuko Trading Private Limited (MTPL) MTPL was incorporated on November 14. Ltd.01 (0.32) 0.02) (0.77) (22.12) (0. The board of directors comprises Mr.000 5. Sriram. . Shareholding Pattern The shareholding pattern is as follows: Shareholder Reynold Traders Pvt. M. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.52) (9.) BV (Rs.000 1. Ltd.000 1. 1994 as a private limited company and converted into a public limited company “Musuko Trading Ltd.77) (0.51) (126. The company is mainly in the business of investments and trading in securities.000 10 10 27.50 18.50 3. Ltd. Company’s board comprises Mr.000 5. of Shares 5. Devender Singhal Mr.79) 26.90 No.50 18. Kole and Mr.” with effect from March 23.71) (20. 2002.22) 2001-02 621.000 5.) BV (Rs.51) (0. Mr. 1998.

00 .Information Memorandum Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Vrindavan Services Pvt.00 100. Vrindavan Services Pvt. Shyamlal Agarwal Total Financial Performance The financial performance of the company (Rs.79 29. I Qureshi.710 1.) BV (Rs.27 0.00) (0.28 0.000 225.19 0.00 FY 02 0.000 % of shareholding 49.) 2003-04 769. Ltd.03 7.08 (0.620 1.21 0. Ltd. Jindal Holdings Ltd.10 100. It has made strategic investment in the shares of South West Port Limited.160 2.070 1. Mr.10 0.000 150. Wavelength Capital & Finance Pvt. Naman Enterprises Pvt. Ltd.990 4.35 2002-03 769.452 % of shareholding 33. Ltd.52 16.90 49.45 (513. Ltd. Gagan Trading Co. Sriram and Mr.95 1.S.33 No. Jindal Equipment & Leasing Consultancy Services Ltd. Gati Securities Pvt.N.440 2 769.45 (505. Ltd.45 (505. Total Financial Performance The financial performance of the company (Rs.06) 9.990 10 10 10. Ltd. of shares 4.27 0.03 34.22 0.11) (0.00 (20) Nalwa Chrome Private Limited This Company was incorporated on September 2. Its board of directors comprises Mr. Sushil Buwalka Mr. Mr.60 - .16) 0.24 19. Animation Finvest Pvt.39) (0. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.225 125.01) 34. Ltd. Starlight Equifin Pvt.225 2.90 0. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) FY 04 1. Welworth Equifin Pvt.100 each) Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs. Ltd. 1985.05) 33. Sanjay Agarwal. Shareholding Pattern The shareholding pattern is as follows: Shareholder Sun Investments Pvt.09) FY 03 1. of Shares 260. Ltd. K.003 No.00 (0.36 2001-02 769.

Shyamlal Agarwal Mrs. Ltd Gagan Trading Co. The company’s board of directors comprises Mr. Sushil Bhuwalka Mr. Kole and Mr. Expenditure not written off/Preoperative Expenses Income PAT Dividend EPS (Rs.13) (21) Maharashtra Sponge Iron Limited Maharashtra Sponge Iron Limited was incorporated on September 2. 1995.02 0.38) NA NA NA NA (530.02 0. Sangita Jindal Mrs. Shareholding Pattern The shareholding pattern is as follows: . Urmila Bhuwalka Mrs.02 0.) BV (Rs. This company is mainly in the business of investments and trading in securities. 1985 as a public limited company. P.) (0.970 24.02 49.960 50.19 FY 02 0.02 0.24) 7. R. The board of directors of the company comprises Mr.000 % of shareholding 0.) (22) Kavita Securities Private Limited FY 04 5. The company has not yet commenced commercial activity. Asha Agarwal Sun Investments Pvt. Sajjan Jindal Mr.02 0. V.92 100.53) No. Mr. expenditure not written off /Preoperative expenses Income PAT Dividend EPS (Rs.60 (0. P.00 The company was incorporated on February 28.94 49. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.R. Ltd Total Financial Performance The financial performance of the company (Rs. Bhalerao.) BV (Rs. 10 each) Reserve & surplus Excluding revaluation reserve Misc.09) (0.40) NA NA NA NA 9. Shareholding Pattern The shareholding pattern is as follows: Shareholder Mr.00 (0.20) (0.43) NA NA NA NA 9.95) 7.P. Dileep Bhatt. Surendranath and Mr.61 - .007 (0.Information Memorandum Misc. O. Jindal Mr. R. Mr. R.02 0. Jayaraman.00 (0. Mr. D.13 FY 03 5. Jindal. Anilkumar Agarwal. of shares 10 10 10 10 10 10 10 24.22) (719.10 (0.

00 (108. Ltd. Apurva Jhalani. Wavelength Capital & Finance Pvt.03) (8.93) (0.62 - .00 The financial performance of the company (Rs.10 21. Mr.00 (24) Sapphire Technologies Limited . Animation Finvest Pvt.002 (109.50) (5468146) 2002-03 0.00 (108. Starlight Equifin Pvt. 100 each) Reserve and surplus Excluding revaluation reserve Income PAT Dividend EPS (Rs.01) (5348) 2002-03 2. of shares 1 1 2 % of shareholding 50. Gati Securities Pvt.98 20. of shares 2 440 320 360 420 460 2002 % of shareholding 0.12) (405937. P. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.) 2003-04 2.Information Memorandum Shareholder Naman Enterprises Pvt. Ltd. Ltd.00) (5461814) 2001-02 0.Ltd.002 (109.98 22. Shareholding Pattern The shareholding pattern is as follows: Shareholder Gauri Investments Pvt.R. Total Financial Performance The financial performance of the company (Rs. V.) BV (Rs. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs. Total Financial Performance No.00 50.98 100.98 15.14) (7.07) (0. Ltd. Kole and Mr.98 17. It is mainly in the business of Investments and Trading in securities. Surendranath.14) (7157.19) (9770. 1995.12) (405.16) (7. The board of directors comprises Mr.22) (0.00 (109. Welworth Equifin Pvt.84) (5342) 2001-02 2. Ltd.00 100.64) (5335) (23) Laptev Finance Private Limited Laptev Finance Private Limited was incorporated on February 6. Ltd.50) (5452869) No. Silky Investments Pvt.76) (8. 100 each) Reserve and surplus Excluding revaluation reserve Income PAT Dividend EPS (Rs.) BV (Rs.36) (0. Ltd.002 (109.) 2003-04 0.

Nowal and Mr.02 100. Shareholding Pattern The shareholding pattern is as follows: Shareholder Reynold Traders Pvt.000 200 100 100 100 100 100 2. 1994.R. Mr. Ltd.60) 121. Ltd.99 0.07 (12. Ltd. N.04 0. Animation Finvest Pvt. N.04 0.70) (3. Its board of directors comprises Mr. Ltd.47) (2. P.99 17. Wavelength Capital & Finance Pvt.29 4.04 0.25.) (25) FY 04 25.50. 2000 as a public limited company to carry on the business of software development.S. Jain. Kole and Mr. Manish Shah P. It is mainly in the business of investments and trading in securities. to act as consultants and advisors on information system etc.90) (5.N. of shares 1.86 49.002 % of shareholding 22. Shireesh Wagh Mr.95) No. K.86 0. Shareholding Pattern The shareholding pattern is as follows: Shareholder Welworth Equifin Pvt. K.07 (21.83 1. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs. Raman Madhok.02 0.31 (8. Its board of directors comprises Mr. Sriram K.S.07 (8.61) 14. Nirmal Kumar Jain Total Financial Performance The financial performance of the company (Rs.04 100.) BV (Rs.15) (0. Ltd. Raman Madhok Mr. Dr.99 21. Kantilal Narandas Patel Mr.04 0. Jayant Acharya Mr.25. Gati Securities Pvt.700 % of shareholding 49.Information Memorandum This Company was incorporated on October 5.81 (12.150 900 1.30) FY 02 25.08 0. Ltd.99 15.00 . Mr. Patel. Vrindavan Services Pvt.000 1.44 FY 03 25.00 Rishikesh Finlease & Investments Private Limited Rishikesh Finlease & Investments Private Limited was incorporated on August 12. Purohit Total No.050 800 1 1 5. V.63 - . The Company has developed a portal “Steelemart. Starlight Equifin Pvt. Ltd.99 20.70) 20.100 1. of shares 1. K. Gagan Trading Company Ltd.com” through which it conducts auctions for facilitating sale of steel products.93 4.

00 50. Mr.) (27) FY 04 5.38) (13.00 Jindal Technologies & Management Services Private Limited (JTMSPL) JTMSPL was incorporated on December 3. Nowal.18) (26) Naman Enterprises Private Limited Incorporated on April 19. 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.000 % of shareholding 50.00 (862. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs. Shareholding Pattern The shareholding pattern is as follows: Shareholder Reynold Traders Pvt.95) FY 03 5.57) (934. Mr. Rishikesh Finlease & Investments Pvt.19) (0.63) No. V Surendranath and Mr.64 - .74) 1.91 (1736.00 (873.00 (51.00 (11.00 (873.50 (4. Total Financial performance The financial performance of the company (Rs. Bavneesh Gulati. of shares 25.K.000 25.95) FY 02 5.32) (934.96) 2700.) BV (Rs.000 each. the number of shares being 5.) FY 04 5.) BV (Rs.Information Memorandum Financial Performance The financial performance of the company (Rs. Rajeev Pai and Mr. V.00 (51. (28) Jindal Coated Steel Private Limited . in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.45) FY 02 5.000 50.37) (0. Ltd. The company’s board of directors comprises Mr. 1994 as a private limited company.17) (1724. Deepak Bhat.N. Its shares are held by Vrindavan Services Private Limited and Sun Investment Private Limited equally.79) (0.22) (847.37) (87.00 (47.56) (11.03) (0. Patel.35) (1737. Mr.27 0.95 1.77) 0.01) 1.02) FY 03 5. 2003 to carry on the business of Management & Engineering Consultancy Services. Ltd. Board of directors comprises Dr. Apurva Jhalani. K.100 each) Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs. the company is in the business of property development.18 (0.00 100.

1998.900 100 100 10.000.09) (0.02 (0.Information Memorandum The company was incorporated as a private limited company “JBS Steel Products Pvt.900 4.53 (2. The company had commenced a project for setting up an organic coated steel plant. Garg Girish Ghate Total Financial performance The financial performance of the company (Rs. Shareholding Pattern The shareholding pattern is as follows: Shareholder Jindal South West Holdings Limited Sun Investments Pvt.00 (1051. Bhalerao and Mr.13) 5. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Miscellaneous Expenditure not written off FY 04 1. 1996 and was converted into a public limited company “JBS Steel Products Ltd. Private Limited Incorporated on January 12.83) 8.00 50. Nowal. The Company is in the business of trading in steels and also has made strategic investment in South West Port Ltd.21 FY 03 2200. in lacs) is given below: Particulars Equity Share Capital Reserve & surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.00 1.28) (0.00 49.27 No.85) (0. The company’s Board of Directors comprises Mr.00 (1039.99) 16. Sriram K S N. Raman Madhok and Dr. Mr. R. Presently the company is in the process of diversifying into other business activities.00 1.00 100.42) 0.00 . of shares 4.” with effect from February 23. The company’s board of directors comprises Mr. N.53 FY 03 1.) FY 04 2200.000 % of shareholding 49.81 (11. However the project was shelved due to uncertain outlook in the steel market. Shareholding Pattern The shareholding pattern is as follows: Shareholder Reynold Traders Private Limited Tranquil Homes & Holdings Pvt.00 0.00 (0. Mr.92) 0.000. Garg. D. K. Jain.00 (1053. V.” on December 12. The name of the company was changed to “Jindal Coated Steel Ltd.009) 5.00 (29) Dhaman Khol Engineering & Construction Co.05) 5. 2001 and the company was reconverted into a private limited company with effect from July 26. P.” on August 6. 1996 as a private limited company. Limited V.000 11.65 - . Ltd.000 % of shareholding 50.63 0. Total Financial performance The financial performance of the company (Rs.66) No.00 100.) BV (Rs. K.92 (29.000.60 FY 02 0.22 FY 02 2200. Ltd. P.49) (0. of shares 11. 2002.000 22. V.

31 234.00 100.00% 0. District Bellary.00% 0. Raman Madhok Mr.35) (459. Sajjan Jindal Mr.400 12.00 231.56 1. Limited Vrindavan Services Pvt.00% Chairman Vice Chairman Joint Managing Director & CEO Director Finance Director Director Nominee of ICICI Nominee of IDBI . The plant has been operating since January 2000 at PLF of over 95%.88 278. JTPCL has set up a 2X130 MW thermal power plant. Limited Total Financial Performance The financial performance of the company (Rs.47 FY 02 289.33 (0.20 56.) BV (Rs.000.00 79. JTPCL consumes about 20 MW as auxiliary consumption and supplies about 140 MW of power to JVSL and about 100 MW to KPTCL.14) (1. of Shares 100 100 100 100 100 144. 1994.T.K. Sajjan Jindal Mr.66 - .11 1. Abraham Mr.35% 10. Jain Mr.01) 41. Krishna Deshika Mr.73 No.655.00% 0.27% 100.100 102.000 289. Prithvi Raj Jindal Mr. in Toranagallu village. Balaji Swaminathan Mr.43 195. P. Karnataka. Ratan Jindal Jindal Vijayanagar Steel Limited Gagan Trading Company Limited Sun Investments Pvt.499.00% 50.24 FY 03 289. K. Raaj Kumar Mr.685.00% 4.) (30) Jindal Thermal Power Company Limited 430. R.Information Memorandum Income PAT Dividend EPS (Rs.74 13.40) (0.13) (0.03)(15. The Board of Directors comprises: Mr.55 21. N.46 0.77 20. in crores) is given below: Particulars Equity Share Capital Reserve & surplus Excluding revaluation reserve Operating Income PAT Dividend EPS (Rs.) BV (Rs. Jayaraman Iyer Shareholding Pattern Shareholding Pattern is as follows: Shareholder Jindal Strips Limited Jindal South West Holdings Limited Mr.00% 0.56 6.00 295.05 10.96 12.48 (11.000 29.90) JTPCL was incorporated on March 10.160.) FY 04 289.000 % of Shareholding 0. It is engaged in the business of power generation.38% 35.

Upinder Singh Mr.26% 3. 78. N.Information Memorandum (31) JSW Power Limited (JPL) JPL was incorporated on January 3. Bellary District.000 2. Sanjay Sagar Mr. namely: Unit I and II. Raaj Kumar Mr. 2003 under the Companies Act.200. J. 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.67 - . Company’s board of directors comprise of the following directors: Mr. of shares 5000 55. Austria is the first plant to .700 100 100 100 33.86 No.000 % of shareholding 0.000. 6.05) NIL Commercial Operation yet to begin Commercial Operation yet to begin Nil Commercial Operation yet to begin Rs. JPL is promoted by Jindal Thermal Power Company Limited and the other Companies of the Groups. K. JVSL's plant located at Toranagallu.640.500 Cr.50% 0. 1994.00% 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 15.2 crores (as on 3. It has been promoted by JISCO and its associated companies and Karnataka State Industrial Investment Development Corporation Limited (KSIIDC). The company is also now setting up of two 30 MW power plant in SISCOL premises. The scheduled time for commissioning of Unit I is April 2005 and for Unit II is October 2005.000 200.959. The plant.400 26.600 4.00% 0. 1956. 9.) (32) FY 04 Rs.5 mtpa of HR coils with an investment of around Rs.00% 0.01% 0.T.79% 100.3.739.02% 12.) BV (Rs.07% 0.000 10.600. Krishna Deshika Mr.93% 34.K. K. JPL is setting up two power plants with the capacity of 100 MW each.00% 43. which uses COREX technology from Voest – Alpine. Jain Mr. has a production capacity of 2.43% 5.000 78. which will be captive to Jindal Vijayanagar Steel Limited (JVSL). Spread over 3500 acres of land.

Total Others Private Corporate Bodies Indian Public NRIs/OCBs Any Other(Please Specify) Trust Huf Sub .Foreign Promoter's Persons acting in Concert Sub . Insurance Companies (Centeral/State Govt.74% 4.12% 30.03% 22. Finacial Institutios.25% 3.28 2002-03 1352.53% 0.92 6.13 2329.11 80% 64.Total Non-Promoter's Holding Institutional Investors Mutual Funds and UTI Banks.37% 16.04 (110. Financial Performance The financial performance of the company (Rs. Shareholding pattern as follows: - Category A Promoter's holding Promoter's * 1 2 B 3 A B . of Shares held % Shareholdings 55154742 5704612 0 60859354 42.00% 47.42% 0.69 # 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.) # BV (Rs.67) Nil (0.Information Memorandum use oxygen-based Iron and Steel making in the country with continuous casting and hot strip mill.90 870.03 Nil 2786.97 7035.98 195. in crores) is given below: Particulars Share capital Reserves and surplus (excluding revaluation reserves) Sales (including Excise duty) PAT Dividend (%) EPS (Rs.72% 6.Indian Promoter's .86) 1.00% Stock Market Data .) 2004-05 469. Plates and Sheets and is the only flat Steel Producer in South India.68 Nil 3.Total Grand Total No. JVSL manufactures high quality Hot Rolled Coils.30 2003-04 1631.16% 3105142 2.59% 100.68 - .41% C 4 A B C D 28028571 7901485 39035198 4346484 21715128 2354540 684458 43980 29144590 129039142 21.08 Nil 3590.83% 1. JVSL was set-up as a backward integration facility for production of hot rolled coils for JISCO.Institutions /Non-Government Institutions) FIIs Sub .49 528.82% 0.

Seshagiri Rao M. Vittala Murthy.10.N. Aiyar (33) Jindal Steel & Alloys Limited Chairperson Vice Chairman & Managing Director Jt.) 457. IAS Mr.Information Memorandum Month/Year March/2005 Februvary/2005 January/2005 December/2004 November/2004 October/2004 BSE High (Rs. The Board of Directors of the merged entity comprises: Smt. 391.79 12. 2000. R. The average time taken by the company for redressal of complaints varies from 7 to 15 days. 5.049. The scheme has been made effective on October 3. IAS Mr. Roy Mr.80 18. 5127 complaints have been resolved and 154 complaints are pending.95 18.90 14.75 12. Gokul Ram. Balaji Swaminathan Mr. 1993 in the name of Kay Kay Cold Storage Private Limited.35 The market price of shares of JVSL (as on April 4.40 356.) Low (Rs. Pursuant to scheme of arrangement sanctioned by High Court of Punjab & Haryana.50 356.90 14. 2000 (appointed date) on a going concern basis for a consideration of Rs. Anthony Paul Pedder Dr.V. Raman Madhok Mr.) 458. The company was incorporated on June 10.80 18. Managing Director & CEO Jt.30 and the market capitalization was Rs. Savitri Devi Jindal Mr.67 12. Managing Director & CEO Director (Finance) Director Nominee Director-KSIIDC Nominee Director-KSIIDC Nominee Director –IDBI Nominee Director-ICICI Bank Ltd Nominee Director-LIC of India Director Director It is a subsidiary of Jindal Strips Limited.99 11. David Chandrasekaran Mr.M. Gupta Mr. 2003.65 22. Sajjan Jindal Dr.25 15. 35 crores.I. B. S.K.10 NSE High (Rs. The name of the company was changed to Jindal Steel and Alloys Limited.S Dr. JVSL as a consolidated entity has acquired significant strength with strong financials.40 11. Ramaswamy P. 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. The said scheme has been sanctioned by the Hon’ble High Court of Mumbai and Karnataka and has since become effective from 4th February. After the merger. JSWHL and JVSL (“scheme”). the steel business of JISCO has been merged with that of JVSL from the Appointed Date 1st April. Singh Mr. 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 1.00 18. Board of Directors details as follows .00 13.65 13. depending on the type of complaint.2004 to 31. 2005. The company has its investor service center at Mumbai and has engaged the services of a Registrar & Transfer Agents to handle investor grievances.2005.) Low (Rs.70 22.40 11.00 11.69 - .N. facilitating for organic and inorganic growth. Out of 5255 complaints (related to shareholders) received during the period 01. Through a scheme of Arrangement and Amalgamation between JISCO.30 crores. 2005) on BSE was Rs.03.20 15. N.00 14.

82 FY02-03 702. Anil Sood. Singh.00 3075. Sushil Bansal Mr. Patel Mr. metals. U.78 1.) BV (Rs.0000 The financial performance of the company (Rs.0071 500 0. O. R.34 17005.0014 100 0. Mr. Vinod K.00 1500 15. Jindal Mr.00 2951. ores etc.00 1500 15.00 . Mr.00 53. Dr. M.) (34) Vijayanagar Minerals Private Limited (VMPL) FY03-04 702. P. Krishne Gowda. Subhash Sharma Mr.500 99. Yogendra Tripathi. of shares % of shareholding 70. Rajeev Pai Mr. Jain Mr. Patel Mr. Shareholding Pattern The shareholding pattern is as follows: Shareholders Jindal Vijayanagar Steel Limited Mysore Minerals Limited Gagan Trading Company Limited Sun Investments Pvt. K. Jija Madhavan Hari Singh. Mr. Mr. of Shares % of shareholding 4000 40. Ratan Jindal Mr.18. Nowal Mr. N. Raman Madhok.68 109. P. Singh.83 9808.00 3005. K.0071 100 0.56 52.Information Memorandum Name Mr. The board of directors comprises Dr. Limited Total Financial performance No.0014 7020000 100. K. V.24 54.06 21569. Smt.49 1.80 FY01-02 702.0014 100 0.9786 500 0. B. N.0014 100 0. A.77 52. Rajeev Pai Total Financial Performance: Designation Managing Director Director Director Director Director Director Director Director No.70 - . in lacs) is given below: Particulars Share capital Reserves and surplus (excluding revaluation reserves) Sales (Net of Excise) PAT Dividend (%) EPS (Rs. Venkateshan and Mr. S.00 10000 100. Ram Chandra Sharma Dr. K. N.0014 100 0.02 The company was incorporated on June 17.27 0. Kole Mr.00 3000 30. Om Prakash Agarwal Shareholding Pattern is as follows: Shareholders Jindal Strips Limited Mr. N. P. 1997. Mr.28 70. Raman Madhok Mr. Gupta. It is in the business of mining and extraction of minerals.

00 (463. Lakshmi Machine Works Ltd.71 - .08 0. Mr. Sajjan Jindal) (b) TIDCO Sub Total (a)+(b) Other Shareholders Mutual Funds and UTI Banks.) (35) FY 04 1.39.100 29.93 45. N.10) 10 Southern Iron And Steel Company Limited (SISCOL) Southern Iron and Steel Company Limited (SISCOL) was incorporated on September 11. Steel Melting Shop in January 1999.92 50.88 166.50.100 7.051. It also has plants for generation of power and production of oxygen.Information Memorandum The financial performance of the company (Rs. which is headed by Mr.01 3. 1991 as a Public Limited Company promoted by M/s.90 (568.00020 (568.55) 1.39 10 FY 03 1. Shanmugasundaram.000 3.45) 10 FY 02 0. Bars and Rods at its integrated steel plant located at Pottaneri/M. S. Sajjan Jindal.000 82. of Shares 3.50. 2004 within the meaning of the Sick Industrial Companies (Special Provisions) Act.21.16) 2.000 56. T. K. FIs and Insurance Companies Private Corporate Bodies Indian Public NRIs/OCBs Total Financial performance The financial performance of the company (Rs. Vijay Sharma.64 0. Sinter plant in August 1997. The Company started commissioning its units with iron making division and power plant in 1996.00 (629. P. Mr. Mr. 1995.71.in lacs) is given below: No.71 10. Steel Billet and Rolled Steel products in the long product category.974 3.10) 1.850 % of shareholding 39.00.82.00. Billets. Air Separation plant in June 1999 and Bar and Rod Mill in May 2002. Prakash. V. 2004 is as follows: Category Promoters and Promoter Group (a) JSW Group (including Mr. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Sales PAT Dividend EPS (Rs. The capacity of the plant is 0. The Company has become a Sick Company as on June 30.30 0.) BV (Rs.04 100% . Shareholding Pattern The shareholding pattern as on December 31. Krishna Deshika. 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.3 mtpa.976 29. Jain. Kamal Kishore Gupta and Mr. Mr. and is referred to BIFR. The Company is in the business of manufacturing Pig iron. The Company operates an integrated steel plant having facilities for production of Pig Iron. Kalipatti villages.42. The board of directors of the company comprises Mr.664. LMW has sold their entire shareholding in SISCOL to the Jindal South West (JSW) Group.74 (61.289. Kshirsagar. (LMW) and Tamil nadu Industrial Development Corporation Ltd.700 10. Mr. In terms of the CDR approval and as per approval by the shareholders of SISCOL and by SEBI.55. K. (TIDCO). V.

000 84.80 FY03-04 (15 months) 16039.06 FY01-02 16039.10 and the market capitalization was Rs. 1999 for the development. 1997 as a private limited company known as ABG Goa Port Private Limited and promoted by ABG Heavy Industries Limited (ABGHIL). Nowal. Raman Madhok.72 - . Mr. Captain B. own.85 24.24 7607.31) (16. financing. SWPL has entered into a license agreement with Mormugao Port Trust (MPT) on April 11. Shareholding Pattern The shareholding pattern is as follows: Shareholder ABG Heavy Industries Ltd. Status of Investor Complaints received during the period from October 2004 to March. Nasser Munjee and Mr. 2005) on BSE was Rs. resolved/replied 16 and Pending Nil. Sajjan Jindal.85 51.K. of shares 1.00 18.47) Nil (6. 2005 and closes on April 29.49) Nil (20. Pvt.24 7607.00 21.11 The Company’s rights issue is open since March 31. operating and maintaining two dedicated bulk cargo berths at MPT on a build.05) 4.V.38 (2771.43 (4570.56 (15340. Ltd No.95 15.25) FY02-03 16039.45 Low (Rs. & Const.) Stock Market Data Month October 04 November 04 December 04 January 05 February 05 March 05 BSE High (Rs.60 23. V. Co. (C) Associate Companies (1) South West Port Limited (SWPL) SWPL incorporated on June 26.05 crores.10 18. 2005 – Received 16.30 23.24 7607. designing.) 14.43) Nil (3.000 % of shareholding 26.The market price of shares of the company (as on April 15. Sharma (Joint MD & CEO). (including nominees) Dhaman khol Engg. depending on the type of complaint.67) 10.75 34. The company has engaged the services of a Registrar & Transfer Agent to handle the grievances of the investors.05 20.96 4930. The board of directors of the company comprises Mr. Dr. The company’s name was subsequently changed to SWPL in September 2003.) 18. constructing.12.182.K.J.20. engineering.) BV (Rs. 2005. Mr. Saket Agarwal.20.80 21. The average time taken by the company for redressal of complaints is up to two weeks.96 26844.96 34144.24. operate and transfer (BOOT) basis. owning.Information Memorandum Particulars Share capital Reserves and surplus (excluding revaluation reserves) Sales PAT/(Loss) Dividend (%) EPS (Rs.23 . equipping.

600.248.11 25.062 4. Qureshi.00 100. 9.17 100.31 16. I. Ltd.910.01 NIL 2.00 26.20. N.81 9.80.00 -28.000 15. 1995 and manufactures liquid and gaseous Oxygen. Muralidhara. Mr.200.62.21 9. The Board of Directors of the company comprises Mr.604.47 2.938 1.Information Memorandum Tranquil Homes & Holdings Pvt.82 FY 02 550. Nitrogen and Liquid Argon.42 3. Mr.) BV per share (Rs.43.01 --53. (Including Nominees) Silver Steel Ltd Total 1.85 Since the company had not started commercial operation till FY04. (2) Jindal Praxair Oxygen Company Private Limited (JPOCL) JPOCL was incorporated on September 27. Kalyana Sundaram. of shares 11. other income) PAT Dividend (%) EPS (Rs. 10 each) Reserves and surplus (excluding revaluation reserves) Income (incl.571. Nalwa Chrome Pvt. Mr.79 22. Mr.) FY 04 3497.) Note: Audit for FY 2004 has not been completed yet.00 4.000 45. John Panikar.877.20.73 - . Gerry Reidy. However. Venkatesh Prabhu and Mr. Mr. Ltd.91 13.00 .00 15.00.17 1. C.5% Secured Redeemable Non Convertible Debentures of the Company are listed on The Stock Exchange.752. Mr. Sharad Madhok.10 NIL 1. FY 2003 FY 2002 FY 2001 15.00.59 No.551.03 NIL 1.K. Moosa Raza.85 FY 03 1150.200. Vikas Sharma. Mr.11 11.00.00 7.79 845.00 450.000 3.000 % of shareholding 74.24.36 9.00 --7. K.02. Mumbai. Jain. The Shares of the SWPL are not listed. Asit Gangopadhyay. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.00 After March 31.24. in lacs) is given below: Particulars Equity Share Capital Advance against Share Capital Reserve & Surplus Miscellaneous Expenditure not written off BV (Rs. Financial performance The financial performance of the company (Rs.10. Mr.89 27.98 9. Mr. 2004 the Company has issued 11229900 equity shares.000 23.95.718.01 12. Total Financial performance The financial performance of the company (Rs.37 2. no profit and loss account has been prepared by the company. Shareholding Pattern The shareholding pattern is as follows: Shareholder Praxair Pacific Private Limited Jindal Vijayanagar Steel Ltd.

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

The share capital of the Company stood at Rs.75 - . the Income of the Company for the year ended March 31. 1956.96 lacs as against Reserves and Surplus of Rs. without any further act. 5 lacs and incurred pre-operative expenses to the tune of Rs.50 lacs. or deed. any adverse financial impact on the operations / business / performance of investee companies will have negative impact on the revenue of JSWHL.28 lacs.70 lacs. no Profit & Loss account was prepared.Information Memorandum MANAGEMENT DISCUSSION & ANALYSIS Performance in successive periods The Company was incorporated on July 12. Therefore. 529. the Company continued to hold its investments in Jindal Group Companies in addition to providing of consultancy services. The Company also provided consultancy services resulting in an income of Rs. The Company raised equity share capital of Rs. 2005 stood at Rs. Pursuant to the Scheme of Arrangement and Amalgamation approved by Hon’ble High Courts of judicature at Bombay and Karnataka. .06 lacs. 2001. Risk & Concerns JSWHL’s main source of income is dividend on investments made in listed / unlisted companies. 560. instrument. stands transferred to and vested in JSWHL.48 lacs. 52121. 5 lacs and made investments in Jindal Group Companies to the tune of 8. 0. 1109. the Investment Division of JISCO.66 lacs mainly comprising of dividend and interest income and the Profit after Tax amounted to Rs. After giving effect to the above Scheme during the Financial Year 2004-05. 0. In financial year 2003-04. pursuant to the provisions of Section 391-394 of the Companies Act. During financial year 2002-03 the Company raised additional share capital of Rs. During financial year 2001-02 since the Company had not commenced any commercial activity.

00.00 623.00 0.50.50.00 151.04) 1220.000 equity shares of Rs.00 614.08 1548.92 1944.000 equity shares of Rs. hot charging systems in Hot Strip Mill were added to enhance the overall capacity of the integrated steel plant to 1. 10 each for cash at par aggregating Rs.23 183.48 (29.00. 10 each for cash at a premium of Rs.000 14% secured redeemable Partly Convertible Debentures (PCDs) of Rs.67 80.00 17.25.00 134.43 23. 10 aggregating Rs. These issues opened for subscription on March 23.00 78.37 0. These issues opened for subscription on February 10.00 162.00 320.77) 1093.Information Memorandum PROMISE VERSUS PERFORMANCE The details of shortfall in promise vs.00 34.87 84.00 162.84) 801. 1995.20 47.18) (148. the steel industry as a whole witnessed historically low level of selling prices on account of a global down turn.50 crores and (b) 35.29 (148. 2004 was Rs.00 725.57 mtpa.18 (0.00 931. 1090 crores. Public Issue of Southern Iron And Steel Company Limited The Company had come out with two simultaneous but unlinked issues of (a) 1.00.84) (0.78 197. During the initial project implementation. A comparison of promises versus performance is given below: .00 317. Capitalisation of preoperative expenses incurred during prolonged trail run. The actual project cost up to March 31. 6226 crores.50 crores. modifications were effected to the basic design of the main plant and additional plant/facilities like pellet plant. converter caster.04) (29.00 129.76 - .27. 25.00 738.00 32.000 Partial Optional Convertible Debentures (POCDs) of Rs.00 524. Corex 1 was recommissioned after a lapse of one year by carrying out rectifications/modifications. A comparison of promises versus performance is given below: (Rs.00 180. 1995. When the company started operation of the integrated steel plant after recommissioning of Corex. 24.25 mtpa of HR coils in June 1994 was estimated to be Rs. Delay in disbursal of loans and non-receipt of call money caused a further delay in project implementation.30 (34. 40 each for cash at par aggregating Rs.00 126.00 537. increase in interest during construction and foreign exchange variation also resulted in a cost overrun of the project.00 (0.77) (34.30) 0.68 21.18) The project cost to set up an integrated steel plant of capacity of 1. 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. 3300 crores including margin money for working capital.00 530. 70 each for cash at par aggregating Rs.93 1740. performance for the Company and other listed group companies are given below: Public Issue of the Company The Company has not come out with any public issue in the past. Public Issue of Jindal Vijayanagar Steel Limited The company had come out with two simultaneous but unlinked public issues of (a) 13.00 134. 135 crores and (b) 27. The commissioning of the plants was delayed due to technological issues.

35) (13.27 1.74) 12.01) 5.34 51. which was even below the cost of production.08 (24.14 FY 98 Projection Actual 214. Due to frequent stoppage and start-up. Frequent stoppages of ASP caused substantial increase in cost of up-keep for the equipment. competition.50 301.80 14.500 0.70 29.12 21.37 (4.88) (12.29 4.66 75.47 28.13 84. electricity etc.55 (33.35) 75.80 76.00 161. also substantially contributed to a high cost of production.00 75.45) (4.00% 27.72) 19.00 75.66 5.50 230. the cost of project went up substantially adding to the fixed cost component of its finished products.21% 65.79 101.48) 17.28 0.50 265.45 (12.41 183.725 80.72% 16. Due to under-utilization of capacity at iron making and steel making stages and almost no capacity utilization in BRM.45) 5. being an integrated steel plant. The main reason for this was depressed steel market scenario with low demand and low selling prices.725 90.86) 8.00% 261.725 22.47 214. 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 .49 (1. the Company took various steps to improve operational efficiency. 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.00 70.45 116. Cryogenic equipment such as ASP is not designed for any stoppages and is expected to work with uninterrupted operations for years together.79) 8.44 7. power and furnace oil increased. While the cost of input.27 (7. FY 97 Projection Actual 214.34 29.725 214. requires uninterrupted operations.88) (12.49 37.00 (2.60 (7. Air Separation Plant (ASP) and boilers of power plant and Energy Optimization Furnace (EOF).01 2. the selling prices showed a decreasing trend. reduce cost of production and to improve quality.18) 75.00 75.37 75.63 1.42) 17. mainly raw material.16 62.18) (14.46 37. with pyro metallurgical equipment and machinery.98 46. lower demand and lower sales realization. Every start up required liquid oxygen to be purchased from external source.29 4.89% 293.52 9.25 (18.31 4.53 (21.78 (24.55 19.55 (33.61) (18.06 21.00 113.61) (13.56 5.500 76.91 3. The unscheduled stoppages .00 (2.37 37.54 76. which added to the cost.91 25.71) (14.08 (4.86) Due to delay in disbursal of funds by the financial institutions for project completion.80 17.46 15. the fixed cost and semi-fixed cost components such as manpower.71) (21.725 70.95 7.34 8.00 (1.96 21. The shutdown of operations.00% Trial prodn.00 FY 99 Projection Actual 214.00 86.19 214.35 65.61 75.87 5.13 0.% Net cash accruals Equity capital Reserves & surplus EPS (Rs. which in turn was due to non-availability of working capital. especially at blast furnace.17 15.77 - .42) 75.58 60.78 51.37) 47.08 (4.44 9. energy i.42) (12. blast furnace.37) 70.89) 19.00% 87. adversely affected the equipment and the life of refractory lining.00 49.78 75.00% 228.81 48. decrease wastage.51 - 47.) Book value (Rs) 183.42 0.70 10.52) 17. The plant. The lower capacity utilization was due to non-availability of input materials in time. Frequent shutdowns and start up at blast furnace has led to excessive consumption of costly input materials such as coke and furnace oil. In view of external factors such as adverse market conditions.Information Memorandum (Rs.94 22.99 39.e.725 41.

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. 196 crores compared to the previous appraisal of Rs.1 mtpa Sponge Iron/Pig Iron to 0. The original cost estimated at Rs. 44. capital equipment costs not originally envisaged (electro-magnetic stirrer) of Rs. Revision in September 2001: The Company had commenced production from part of the facilities. which blocked working capital and increased interest cost.17 crores. The project had suffered a cost overrun from Rs.96 crores and balance mainly on account of the cash losses on sale of the intermediate products. As a result.79. 25. The project cost was reappraised in September 2001 to Rs.91 crores on the foreign currency loans. 1035 crores. Due to the gap in the means of financing.1035 crores in September 2001. an increase by Rs.30 mtpa mill at a cost of Rs. The project has witnessed time and cost overrun since inception due to various reasons outlined above. 280.44 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. However.06 crores. Consequent to the change in the configuration of the mill. 143. 839 crores. The Company’s project was originally scheduled for completion in March 1996. 19. was delayed. the company came out with the rights issue of 77. the new promoters. There was also an increase in cost of miscellaneous assets to the extent of Rs. because of an increase of Rs. 2. the present project expansion is being implemented by the JSW Group.05 crores. 34.108. and executives who have experience in implementing projects in the area.18 crores.87 crores to Rs. 360 each for cash at par aggregating Rs.6 mtpa of Sponge Iron and 0.28 crores consequent to delays in the implementation of the project.22 mtpa mill. the Company could commission only the first phase of the project (iron making facilities) by July 1996. 27.203 . Public Issue of Jindal Strips Limited In 1992. 450 crores in July 1994 was revised to Rs. 12.1 crores. to Rs. increase in trial production losses capitalized of Rs. 35. mainly due to delays in acquisition of land. which was scheduled for completion in October 1998.12.5 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 . other pre-operative expenses of Rs.05 crores.101.151 crores mainly on account of additional interest during construction of Rs. the facilities were shut down from November 2000. 12.10 crores for meeting a part of the Rs. 839 crores. The Company had originally planned to import a second hand mill at a cost of Rs.Information Memorandum also resulted in huge inventory of high value items like ferro alloys. 688 crores in September 1997. 450 crores at the time of original appraisal to Rs.08 crores. Revision in August 1999: Due to the depressed capital market conditions. to enhance capacity from 0. due to shortage of working capital. with commercial production in April 1996.71 crores and pre-operative expenses and interest during construction by Rs. However. the Company could not raise the public portion of the additional equity aggregating Rs. 1035 crores till completion of project in January 2003. 4. However. 238 crores increase in the project cost as appraised in September 1997. there was an increase of Rs. The Company later entered into a contract for 0. 46 crores including refurbishing cost for a 0. the implementation of the project. 839 crores in August 1999 and finally revised to Rs. exchange fluctuation of Rs.5% Partly Convertible Debentures (PCDs) of Rs. there was an increase in the cost of project estimated at Rs.78 - . The increase was mainly on account of the increase in the interest during construction of Rs. 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.

in crores): Land & site development Building Plant & Machinery Misc.62 57.52 The actual project cost.52 crores. the kilns and submerged arc furnaces were expected to be installed by March 1994.734 513 5. and problems were also faced by other steel manufacturers. was to be transferred to Submerged Arc Furnace for manufacturing Pig Iron. 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. not successful for the company.000 MT 200.82 15. 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.99 2.000 MT 200.Information Memorandum plant at Raigarh. 50% for 1993-94 and 70% for 1994-95 for its new project. without having the cooling cycle operation.62 355.00 449. Sponge Iron was to be manufactured from the Rotary Kiln (6 kilns each of 0. therefore.175 nil 20.000 MT 300.1 mtpa) and the Sponge Iron in hot stage. changed the plan for manufacture of Pig Iron and decided to install 2 Electric Arc Furnaces of 50 tons each for manufacturing Mild Steel. Madhya Pradesh.566 97.000 MT 100.719 490 46.5% 23% 1% 26% 43% 10% .449.916 2.000 MT 200.41 19.34 147.36 85. This technology was. The company expected to achieve a capacity utilization of 30% for 1992-93. The Submerged Arc Furnace installed initially was utilized for manufacturing Ferro Chrome. This issue opened for subscription on March 9. however. As per the original plan.000 30 MW Production 97 75 11. 1992. A comparison of promises versus performance is given below: The cost of fixed assets in the project is as under (Rs.79 - .000 MT 200. The company. 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.000 MT 100.79 99.68 28.000 MT 100.757.89 345. cumulative till 1995-96.000 kwh Utilisation 4% 3% 11% 0. was Rs. Fixed Assets Others Total Planned costs Actual costs 1.000 MT 100.

000 equity shares of Rs. 10 each for cash at par aggregating Rs.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 400.992 crores.850 45. 1. the company came out with the public issue of 19. 1986.92. thick walled large diameter SAW Pipes.970 35.771 300.667 kwh 1.613.000 200.000 204.745 7.073.000 30 MW 30.000 500. .731 66% 23% 6% 71% 14% 26% Note: Capacity utilisation % has been worked out after considering commissioning period.447 78.380 69. The actual capacity utilization is close to the projected figures except for some differences encountered during the process of stabilization of equipment.80 - . The project was completed on 13.000 500. Public Issue of Jindal Saw Limited In 1986.000 45 MW 30.1987 and commercial production was started.3. to set up a project for the manufacture of high pressure. This issue opened for subscription on July 7.

criminal or civil prosecution. proceeding initiated for offence (irrespective of whether specified in paragraph (I) of Part 1 of Schedule XIII of the Companies Act) or litigation for tax liabilities against the Company. There are no material defaults.A.15% Facts 1. Against JSWHL by employees There is no outstanding litigation against JSWHL by its employees. Directors or Promoter Group companies. No.291/along with interest is sought against Jindal Strips Amount Involved (Rs. bonds and fixed deposits and arrears of preference shares. 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. 86. A decree of Rs. Parties Pending Before DRT. its Promoters or Promoter Group companies. & Ors.40.Information Memorandum OUTSTANDING LITIGATION AND MATERIAL DEVELOPMENTS Save as stated herein: • There are no outstanding or pending material litigation.40.40.213 of 2001 Benares State Bank Ltd.6) …Defendants Jindal Strips had accepted hundis worth Rs. non payments or overdues of statutory dues. O. other than unclaimed liabilities of the Company. By JSWHL against its employees There is no outstanding litigation by JSWHL against its employees. its Promoters. The United Western Bank Ltd. No. Jindal Strips Ltd. Promoter Companies Jindal Strips Limited Case No. … Applicants Vs. • Against JSWHL There is no outstanding litigation and default against JSWHL.drawn by Hindustan Foils and discounted the same with the Applicant Bank.81 - . 86.) 86. Against Promoter / Group / Associate Companies of JSWHL (A) (1) Sr.291/together with interest @22. (Resp. suit. institutional or bank dues or dues towards holders of debentures. No. Hindustan Foil Ltd. Hindustan Foils Ltd. New Delhi for Hearing Subject of the Matter Recovery Suit for bills dishonoured by Hindustan Foils. has filed an .291/.

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

Intervention Application of JSL shall be considered only if review petition is allowed. decision to allocate the entire 436.295 hectares in Sukhinda Mines to Orissa Mining Corporation contrary to Chahar 5.A. on the ground that interest of the Petitioner and that of Jindal Strips Ltd. 1957 in relation to Sukhinda Valley / Sukhinda Mines. Indian Charge Chrome Ltd. No. Supreme Court of India I.17250 of 2003 In Civil Appeal No. State Govt. has filed an Intervener Application in a case filed by Indian Charge Chrome Ltd.469 of 2003 In Transfer Case No. Jindal Strips Ltd. had challenged the recommendation of the State Government on the ground that no special reasons were recorded for grant of preference to Nav Bharat Ferro Alloy Ltd. & Ors… Respondents And Jindal Strip Ltd. has filed an Intervention Application as the issues under consideration of the Supreme Court in the SLP were the same as the issues involved before the lower court in a case filed by it.83 - . I. And Jindal Strip Ltd. GMR Technologies & Industries Ltd.6788 of 2004 State of Orissa …Petitioner V/s. The Petitioner has sought review of the said judgment from the Supreme Court. …Applicant Supreme Court of India for Hearing Lease of Mines .9 of 2002. No.Information Memorandum 4. is identical in nature.A. & Anr. V/s. Indian Charge Chrome Ltd. under Section 11(5) of the MMRD Act. Union of India & Ors.2 of 2004 In SLP (Civil) No. Supreme Court of India for Hearing - - Jindal Strips Ltd.2 of 2004 In Review Petition (Civil) No.

Information Memorandum

6.

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

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

MM Patiala House, New Delhi For Evidence

Return of InterCorporate Deposit

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

7.

45 of 1995

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

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

Payment of Charges

Rs. 9.88 lacs

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

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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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31. 715. 1958 Nature of the dues Income tax demand Gift tax demand Forum where dispute is pending 5. f) In respect of bid for 63. Income Tax Act.44 lacs (Previous year Rs.000/. 1961 2. 1. Rs.807 ITAT. . 1961 3. 1958 Nature of the dues Income tax demand Income tax demand Gift tax demand Forum where dispute is pending 1.05 lacs equity shares of Haryana Concast Ltd from H.83 lacs. 287. Name of the Statue No.D.738 ITAT New Delhi 1.has been paid on October 20.78. Ltd with Deutsche Bank as safe custody of credit facility granted to Jindal Tractable Ltd. c) The Company has pledged 4900000 equity shares of Jindal Vijayanagar Steel Ltd & 669 sares of Jindal Iron & Steel Co.960 ITAT.25.15. Income tax Act.88. e) Rs.488 ITAT New Delhi Amount (6) Nalwa Investments Limited Contingent liabilities not provided: a) Disputed income tax Liability Rs.56.21.00 lacs.83.437 Penalty Imposed by SEBI A sum of Rs.Information Memorandum Sr.C. Ltd with the various financial institutions/banks as security for financing facilities extended to Jindal Vijayanagar Steel Ltd d) The Company has pledged 1047068 equity shares of Jindal Steel & Power Ltd with ICICI/IDBI as security for financing facilities extended to Jindal Steel & Power Ltd.65.217 2. No. 2.75 lacs Cumulative arrear of dividend on 10% Redeemable Cumulative Preference Shares. New Delhi Amount (5) • Jindal Equipment Leasing and Consultancy Services Limited As per Audited Balance Sheet of March 31. New Delhi 47.I. 175.34. Name of the Statue No. 1. Gift Tax Act. 2004 Contingent liabilities are: a) Outstanding disputed income tax and gift tax liability of Rs. • Non-payment of dues are as follows: Sr.48.87 - . 743. for which no provision has been made.1293. • Non-payment of dues are as follows: Sr.730 CIT (A).S. New Delhi 61. 1961 Income tax demand Income tax demand 1. 1961 2.99 lacs) b) Rs. Gift Tax Act.15. 1961 Income tax Act. 212. b) The Company has given 1376677 equity shares of Jindal Iron & Steel Co. Name of the Statue Nature of the dues Amount Forum where dispute is pending CIT (Appeals) New Delhi ITAT New Delhi Income tax Act. Income Tax Act.55 lacs of dividend on 10% Redeemable Cumulative Preference Shares not provided. 399. 2004 under amnesty scheme for regularisation of Violation of Regulation 6&8 of (Substantial Acquisition of Shares & Takeover) Regulation 1997. 1.

00 Civil Matters Sr.360 equity shares of Jindal Steel & Power Ltd. for credit facility granted to JSPL. Ltd. No.. 2004 under amnesty scheme for regularisation of Violation of Regulation 6 & 8 of (Substantial Acquisition of Shares & Takeover) Regulation 1997. Case No. The Arbitrators have passed Award in favour of Jindal Saw Ltd. Parties Pending Before Subject of the Matter Amount (Rs. . in crores 229.C.) This case relates to the application of Price Reduction formula by GAIL pursuant to the delay in supply of pipes by Jindal Saw Ltd.I. and the same has been challenged by GAIL.) Facts Case No.87 4.09.35 429.has been paid on October 20. 175.. The reduction of price is being disputed by Jindal Saw Ltd.2004 are in respect of: Sr. Penalty Imposed by SEBI A sum of Rs. 1. b) The company has pledged 2.000/.I. No. Gas Authority of India Ltd.264 of 2003 Jindal Saw Ltd.752.88 - . 48 crores (approx.53 lacs Cumulative arrear of dividend on 10% Redeemable Cumulative Preference shares. (8) Jindal Saw Limited Contingent liabilities not provided for as on 30. Vs.16.16 20.C.Information Memorandum (7) Abhinandan Investments Limited Contingent liabilities not provided: a) Rs. 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. with I. (GAIL) Delhi High Court Appeal against Arbitration Award Rs.02 0.02 58.

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. Vs. Jindal Saw Ltd. Vs. under a contract for supply of pipes. Bangladesh attempted to invoke the performance Bank Guarantee for USD 705698 issued by Canara Bank through Bank of Nova Scotia. ONGC has challenged the Award before the High Court. The Arbitrators have passed Award in favour of the Jindal Saw Ltd. Oil and Natural Gas Corporation Ltd. Dhaka on false and frivolous grounds. Vs. 1. 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. Appeal No.58 5. Arbitration Penalty for delay in supplying pipes Rs. Vs. Bharat Petroleum Corporation Ltd. - M/s. SDJV. Suit No.83 crores 3. The reduction of price has been disputed by Jindal Saw Ltd. Jindal Saw Ltd. This matter relates to the application of price reduction formula applied by ONGC pursuant to the delay in supply of pipes.12 crores 4. The Arbitrators have given the Award in favour of the Jindal Saw Ltd. (ONGC) Bombay High Court - US$ 60224. Arbitra tion Petitio n No.292 of 2003 M/s. Jindal Saw Ltd.Information Memorandum 2. ONGC has challenged the Award before the High Court. The reduction of price has been disputed by Jindal Saw Ltd. (ONGC) Bombay High Court Appeal against the Award of the Arbitrator 1.100 2 of 2002 M/s. .862 of 2002 M/s.89 - . SDJV.

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

Mundra Environm ental Pollution The Pollution Board alleged that Jindal Saw Ltd.Y.P.T Act 1948.66. Allahabad A. is disputing the above matter.940 3.Y. High Court. Assessing Authority Trade Tax V/s Jindal Saw Ltd. A. 1997-98 Rs. Commissioner has reopened this matter Under Section 21(2) of the U. High Court Allahabad A. Jindal Saw Ltd. 3. The provisions of Section 15 A (1) (0) of the U.P.83. Jindal Saw Ltd.T.11.E.T.Information Memorandum jurisdiction to try the matter. Criminal Offences 1. on F.J Pipes Mumbai without Form No.P. had undertaken substantial contraction of plant and blast furnace without obtaining prior environmental clearance.600 The Add. Assessing Authority Trade Tax Vs. for carrying out job work. High Court Allahabad A. Jindal Saw Ltd. Assessing Authority Trade Tax Vs.Y. 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.Y. Criminal Case No 416 of 2004 Gujarat Pollution Control Board Vs. 1997-98 Rs. 1991-92 Rs. Other Indirect Taxes Matter 1. This case is in relation to the import of material from M/s P. 5. According to the Board this is in violation of the Environmental Impact Assessment Notification 1994. Jindal Saw Ltd. This matter relates to the imposition of interest on tax deposited by Jindal Saw Ltd.T. 1. This Appeal has been filed by the Department against Jindal Saw Ltd.91 - . Assessing Authority Trade Tax Vs. 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.906 4. 1995-96 Rs. Jindal Saw Ltd.694 2. . & Ors First Class Judicial Magistrate. Deputy Commission er (A) Kosi Kalan. variation.31 by Jindal Saw Ltd.T Act 1948 are attracted which stipulates penalty up to 40% of value of material so imported.T Act 1948 for escapement of Tax. 1.42.

However. Mumbai has heard the Appeal and decided in favour of the Company. Mumbai for Hearing Assessment Year 2000-01 592. Assessment Year 1997-98 and 1998-1999 Addition of notional interest on security deposit received while computing income from house property and the disallowance of interest. of Income Tax Gagan Trading Company Ltd.40 lacs . Supreme Court of India This matter relates to the applicability of Form 3 B and C.20 Chargeability to Wealth Tax u/s 4 lacs and Rs. On appeal.16 lacs. property of the company. Of Wealth Tax ITAT. (10) Gagan Trading Company Limited Contingent liabilities not provided for as on March 31. Versus Comm.84 lacs.92 - . the company is in the process of filing appeal to ITAT on the other issue of interest disallowance. Mumbai Assessment Year 1998-99 Gagan Trading Company Ltd. 2. 159.08 lacs Addition of notional interest on security deposits received while computing income from house property and disallowance of interest. the CIT (Appeals) has decided the matter relating to the addition of notional interest in favour of the company. Assessing Authority Trade Tax Vs. 567.Information Memorandum 5. 578.42 lacs. Jindal Saw Ltd.16. (8)(b) of the Wealth Tax Act of the 184. Rs. Dividend on preference shares Rs. respectively the CWT (Appeals) upheld the Assessing Officer’s contention. 2265.000. On appeal. of Income Tax ITAT. Disputed tax demands Rs.584 has not been acknowledged as debts in view of misappropriation of shares of the company. Jindal Saw Ltd. On further appeal. 2004 include: 1. & 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. The ITAT. 1502. Versus Comm. Current Status of Tax Demands Gagan Trading Company Ltd. ITAT. b) The company has lost the case of misappropriated shares for 600 equity shares of Jindal Strips Ltd. 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. Mumbai has decided in favour of the Company.3. Versus Comm.

29 Lacs Details & Current Status Sr. Contingent liabilities not provided for as on 31-03-2004 related to Disputed Income Tax Demand of Rs. The Company is in the process of filing an appeal to the CIT (Appeals). which is yet to be decided. Versus Union of India. On appeal.93 - .) Facts Writ Petition No. The Company is in appeal to CIT (Appeals).25 lacs. there was a default relating to interest on OCDs amounting to Rs. (13) Reynold Traders Private Limited .54. 2 1993-94 Rs. which is yet to be decided. the CIT (Appeals) upheld the Assessing officer’s contention. 20. The demand had arisen due to disallowance of loss on renunciation of Rights shares.56. 1 The demand had arisen due to disallowance of set off of brought forward loss of earlier year.56 Lacs (12) • • Vrindavan Services Private Limited Contingent liability not provided for as on March 31. Director General of Foreign Trade (DGFT) and Comm. 2004 pertained to dividend on preference shares (pro-rata) amounting to Rs. The Company is in appeal to Income Tax Appellate Tribunal. (11) Sun Investments Pvt. As on March 31. Current Status of Outstanding Litigation Case No.92 Lacs Addition of notional interest on security deposit received while computing income from house property and the disallowance of interest. Ltd. 8090 of 2003 Gagan Trading Company Ltd.Information Memorandum Assessment Year 2002-03 Rs. Of Customs Delhi High Court and shall come up for hearing in due course Customs duty on BMW Car imported in the year 2002 Nil The Comm. Parties Pending Before Subject of the Matter Amount Involved (Rs. The petitioner filed this writ contending that the same was not required. of Customs issued a notice under Central Motor Vehicles Rule 126A for nonsubmission of homologation certificate.431.111 Lacs as detailed below : Assessment Year & Amount of Demand 1991-92 Rs. 2004. No. 20 lacs.

The Company is in the process of filing an appeal to CIT(Appeals) against the order. a demand of Rs. State Sales Tax Dept.94 - .Y. 2000 the Dept. Board of Revenue Denial of benefits for New/Addl.14 Lacs has arisen due to levy of penalty u/s 271(1) (c) on addition made by the Assessing Officer due to disallowance of interest expenses claimed by the Company. The company has already deposited a sum of Rs. 20002001 The Company has been denied benefits on its new/additional products manufactured by it. . 199798 2. (B) Promoter Group Companies (1) Jindal Steel & Power Limited Contingent liabilities not provided for as on March 31. The Company has already deposited a sum of Rs. The company has been denied benefits on its new/additional products manufactured by it.000 against the amount demanded.Information Memorandum Income Tax Demands For Assessment Year 2000-01.946 for the A. 199899 3. State Sales Tax Dept. Jindal Steel and Power Ltd. 82. 6.58 7.000/. Jindal Steel and Power Ltd.76 36. 4.20 5.against the amount demanded. Vs. Products produced Rs.396/.) Facts 1.30.340 for the A. No. Vs.against the amount demanded. has passed an Order in the favour of the company.38 14. 1. The company has already deposited a sum of Rs.28 Sales Tax Matters: Sr No Parties Pending Before Subject of the Matter Amount Involved (Rs. 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. 2004 are in respect of : Sr.000/. 42. By an Order dated April 29.Y. Products produced Rs. Board of Revenue Surcharge imposed and less set-off allowed Rs. 46.58. Rs.Y.02 208. Vs.20.75. Jindal Steel and Power Ltd.for the A. State Sales Tax Dept. Board of Revenue Denial of benefits for New/Addl. Crores 459.

The company has already deposited the amount.220. has imposed a duty of on two (2) Induction Furnaces for the period April 1.12*Adjourn 28.9. The Department has imposed duty on Ladle Transfer Car by treating it as an item falling under heading 86 instead of 84. Modvat credit on capital PH over on 20/2/2001. Writ Petition Jindal Steel and Power Ltd.04*ph Commisioner M/s NKK Corporation Japan 18.679 1287 241.03 ** PH goods relating to power plant 5.1998 to 17.06.03 installed within the factory. A case of difference of book Reply sent ON 29.03. of Central Excise High Court.03 **PH goods relating to power plant 25. Vs. Comm.1. The company has paid an amount of Rs.Information Memorandum Central Excise Matters Sr No Case No.1998 after the Finance Act amendment in 2003. Comm. Chattisgarh Payment of Duty 1. 3949 1.11.012 Cenvat Credit on capital Replied on 14.697 1658 3.. Other Excise Matters Case Ref. Cenvat Credit on capital Replied on 11. The matter had been appealed in the CESTAT by the company against the Order passed by the Comm.55 crores 2.10.11. Amount (Rs) Pending Before Description of the Case Present Status 1993 179.7*27. the modvat Replied on 4/7/96 – No PH document does not appear to be genuine.12 .697 Asst Commisioner Excise Asst Commisioner Excise Asst Commisioner Excise Asst Commisioner Excise Asst Commisioner Excise Asst Commisioner Excise To the department. 2000.12. 1. Parties Pending Before Subject of the Matter Amount Involved (Rs.) Facts 1.874 2661 483. Asst Service tax on the services of Reply Sent 27. V(CH86)15264/R/P R/JC/200 4/ADJ/51 88 Comm.45 lacs The Dept. goods. Jindal Steel and Power Ltd.400 2300 37. 1998 to March 31.03 installed within the factory This case relates to service tax Reply sent on GTO service 01.03 stock and physical stock taken by the department.7. Raipur Classificati on for imposition of duty 7.772 9053 381. of Central Excise Vs.95 - .05 .177.02.00 crores under protest. Jt.

Commissioner Excise Add. Cenvat on explosive used in Replied .03 Graphite Electrode as inputs.5.05*ph Study (Audit) by an 18. Ref APPL – High credit on refractory materials Court to us.96.12.4.9.002.98. Service tax on Engineering reply sent on 28. Commissioner Excise 492 4.10. Cenvat credit taken on Reply sent on 11.04 coalmine.2004 rails and concrete sleepers and allied goods used in the factory This relates to demand of duty Replied on 10.593 Asst Commisioner Excise Add.417 3955 15.31. which stands in our favour.03.2. Department has filed a Dept – Appeal – HC – PH petition before High Court 4.037. M/s HPCL.02 denied by Commissioner.05 concrete sleepers and allied goods used for laying railway track in the factory. Jumbo Electric Platform truck as inputs and Ladle transfer car as capital goods. CEGAT allowed modvat DEPT. Commissioner Excise 4169 4.4.04 on some old and used goods from factory to Nalwa Sponge.840 that we have taken in Japan itself (off shore service). Dept disputes that this item would be capital goods . Cenvat credit on Hot metal Reply sent on 1. This is to be reversed.131.04 transport vehicle.04 include the amount of volume discount on freight availed from Indian Railways in the assessable.000 Add.061 Chief Commissioner Excise 346.527.2.259 1489 2.702 20755 2. Cenvat credit as inputs on Reply sent . Commissioner Excise 27.2.606 High Court Bilaspur 19103 2187 Chief Commissioner Excise 6.6.02-NOT HELD against order of CEGAT. Commissioner Excise Add. Remission of duty PH held 22.11.756 Appealate Tribunal Raipur High Court Bilaspur 1077 43.8.042.726.451 23446 717.644 1005 Add.96 - .05 Engineering Company of Germany. Commissioner Excise Add.058 1303 1.3. We have HC BSP also filed a writ petition before High Court.832 Add. Service tax on GTO service Replied 22.297. This case refers to deficiency OIO Received – full in the document of the Disallow –Appl to be filed supplier of the goods.7. Department proposes to Reply sent on 30. Commissioner Excise 21164 4. The matter has been referred to High Court.01 * WRIT for 1.98 to 1. Sponge iron burnt in the year CEGAT Remand to CCE 2000.Information Memorandum Excise 4558 473. Cenvat credit as inputs on Reply sent on 20.

in Crores 34.PH held Commissioner Graphite Electrode as inputs. This is to be reversed. 2000-2001 and A. Excise 981.50 lacs (approx.104 3081 4576 2623 APPL*PH Appealate Classification of steel DEPT 09. 1999-2000.06 5.03. A. 0.05 Tribunal Delhi components/accessories (Chapter 84 vs Chapter 73) fabricated within the factory for captive use. Raipur for an amount of Rs. 7.26 3. 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.97 - .21 127. 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. 4) The company has been served with two (2) Show Cause Notices from the Commissioner of Central Excise.Y. 3.05*29.745 Joint Cenvat credit taken on Reply sent.011.938 Appealate Cenvat on explosive used in DEPT APPEAL ** PH Tribunal Delhi coal mine. The aggregate amount demanded is Rs. 2) There are Central Sales Tax matters pertaining to A. 66.1.39 lacs (approx.4.13 lacs (approx. 3.) against which the company has already deposited an amount of Rs.323 Joint Dispute relates to modvat PRE-OBJ.-20/9/94-NO PHCommissioner credit on capital goods. (2) Jindal Stainless Limited Contingent liabilities not provided for as on 31.31 Civil Matters: .).511. 8.) 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. The company is disputing the levy.03. 1.2004 are in respect of : Sr. Departmental 5.Y.) against which the company has already deposited an amount of Rs. 592. No. 3) The Gram Panchayat has served a notice upon the company imposing Local Body Tax of Rs.05 *4.Y.319.93 254.74 lacs (approx. which in aggregate amount to a demand of Rs.05 appeal pending in CESTAT.Information Memorandum 953 3.).79 5.32 lacs (approx. 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.4.

Jindal Stainless Ltd. Supreme Court of India Service Tax . HVPNL cancelled the allotment.500/alongwith interest. KBC Bank N.5 Acres of land from HVPNL which is situated between its two factories.11.Jindal Stainless Ltd.163 The Excise Department has levied Service Tax @ 5% on Rs.Information Memorandum Parties Pending Before High Court.6.) Potential liability of USD 4.e. ICICI Bank KBC Bank N. V. 9.1997 to 1. on account of the freight paid for the . New York Branch And Surya Impex. filed a suit for specific performance and obtained a decree in its favour. Civil Court. Hisar LAND 15. 120/per sq. in its factory premises @ Rs.in favour of Surya Impex. Jindal Stainless filed an Appeal in the Delhi High Court challenging the order of dismissal of the suit.23. V.00. 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. Hisar for Hearing Development Charges Upon instructions of Jindal Stainless Ltd. yd. Jindal Ltd. Amount Involved (Rs. 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. Writ Petition No. However. Jindal Stainless Ltd. had acquired 2.48. Excise and Service Tax Matters 1. Union of India & ors.500/. Vs.For the period 16. 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. The Municipal Corporation. Facts Haryana Vidyut Prasaran Nigam Limited (HVPNL) Vs Jindal Stainless Ltd. HVPNL has filed this Appeal. Civil Court.V. 49.000/- Municipal Corporation (Hisar) Vs Jindal Stainless Ltd.44. KBC Bank N.606 of 2002 Jindal Stainless Ltd.71. ICICI Bank opened letter of Credit of US$4. 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.48. V.1998 Rs.259/on account of the services provided by goods transport operators i. Hisar had made a demand for development charges in respect of a club constructed by Jindal Stainless Ltd. New Delhi Subject of the Matter Suit dismissed as infructuous. was the negotiating Bank. Stainless V/s.98 - . subsequently.

1997 to 1. 1996 to March.188 (in all Eight Appeals) 3. 1996 to July. 49. Before Central Excise. Rs. Jindal Stainless Ltd. 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.71. Jindal Stainless Ltd.163/under protest. Commissioner decided the case in favour of the Company. 57. Gurgaon Modvat Credit on capital goods For the period April. 1995 to May. Commission er. 1996 Rs. Refractory items etc. 1996. The Department has levied Modvat Credit on capital goods namely electrical goods. 1995 June.1998.Information Memorandum 2.11. A/380387/2001 – NB(D) (Eight Appeals) (Northern Bench) Commissioner of Central Excise Vs. Rohtak for Hearing For the period September.99 - . The Department has levied Modvat Credit on capital goods namely Electrical and Machinery items and issued a Show Cause dated October 23. Appeal/Delhi – III/45/2001 Central Excise Commissioner Vs.998 period from 16.05. electric items. 1994 January. 49. November and December. The company has paid the amount of Rs.14. 1996.6. 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. the Department . The company replied to the Show Cause Notice and Asst. Being aggrieved. Commission er (Appeals).

The Company filed a Reference Application before the High Court against the order of CESTAT on Capital goods namely: Brass Casting Articles. High Court. 2004 to June.12. 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. Commission er (Appeal).003/- filed Appeal before Commissioner (A) and the same is pending. No.06. IV (HQ)361/Tech/Jind al/D-V/04/14357 dated 28. filed an Appeal before the Commissioner (A) and the same is pending. The Department has levied Modvat Credit on capital goods namely Wires and Cables.000/- 5. The Department has levied Modvat Credit on capital goods namely Refractories and Refractory items.000/- 6.Information Memorandum 4. 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. 2000. 21.69. 1944 for its opinion vide an Order dated November 9. Gurgaon Rs. - Central Excise Commissioner Vs.100 - . Jindal Stainless Ltd. The case was held against the Department and subsequently the Dept.2004 issued by Commissioner of Central Excise. 78. 2004 Rs. Rohtak Modvat/ Cenvat credit For the period January. - Show Cause Notice C. Delhi Modvat Credit Rs. Jindal Stainless Ltd. Rohtak Commission er of Central Excise. 19.33. The Department has alleged that the company is supplying power . - Central Excise Commissioner Vs.

161 Forum where dispute is pending CIT (Appeals).45. 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.869 Forum where dispute is pending ITAT.81.58.101 - .748. Non-payment of dues is as follows: Name of the Statue Income tax Act. 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.636/-.23.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.719/. New Delhi Amount . 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. 1961 Nature of the dues Income Tax Demand Forum where dispute is pending 1.ITAT. 3. 12. 1961 Nature of the dues Income tax demand Amount (Rs) 80. New Delhi (4) Renuka Financial Services Limited Non-payment of dues is as follows: Name of the Statue Income tax Act.

1.62 Lacs has arisen due to disallowance of Website Development expenses incurred by the Company.71. a demand of Rs. which the Assessing Officer had treated as no longer payable. The Company is in appeal to ITAT and the matter is pending. For Assessment Year 2002-03.32 lacs. the CIT (Appeals) has upheld the disallowance.70 lacs. The Company has filed an appeal to CIT(Appeals) against the order. Ltd. . 81.23. 41.15.22 lacs. (13) Sapphire Technologies Limited Income tax Demands For Assessment Year 2002-03. On appeal.43 lacs has arisen due to recomputation of Capital Gains considering a higher sale value by the Assessing officer.3.032/-) (9) • Baltimore Trading Private Limited Contingent liabilities not provided as on June 30.085. 10.Information Memorandum (7) Gagan Sponge Iron Private Limited Contingent liability not provided for : Arrears of Cumulative Preference Shares dividend Rs. a demand of Rs.15.55.(Previous Year 24. (11) • Musuko Trading Private Limited (MTPL) Contingent liabilities not provided as on June 30. (12) Naman Enterprises Private Limited Contingent liabilities not provided for as on 31-3-2004 comprised of dividend on Cumulative Preference Shares amounting to Rs. The Company has filed an appeal to CIT (Appeals) against the order. The demand has arisen on account of add back of interest payable amounting to Rs. the CIT (Appeal) has deleted the addition and the matter stands decided in the Company’s favour.220) (8) Opellina Finance & Investment Pvt.750/. The Company is in the process of filing an appeal to CIT (Appeals) against the order. 197. a demand of Rs.3.915/. 2004 related to disputed Income Tax demand for Rs. 1. Contingent liability not provided for : Arrears on fixed Cumulative Dividend on preference shares Rs.102 - .92 lacs. • (10) Kamshet Investments Private Limited Income Tax Demands For Assessment Year 2002-03.15 Lacs has arisen due to recomputation of Capital Gains considering a lower purchase cost by the Assessing officer. On appeal.(Previous Year 28. The demand has arisen on account of interest disallowance by the assessing officer. 2004 relate to Income tax demand disputed in appeal pertaining to assessment year for Rs.

No. 2. net of Rs. Pursuant to Karnataka Electricity Reforms Act. 573.72 lakhs claimed by the Company towards rebate for prompt payment on another loan from the same Financial Institution. 10890.) Nil Facts Karnataka Electricity Regulatory Commission (KERC) Versus Jindal Thermal Power Company Limited & Ors. JTPCL filed an . 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.103 - .23 lakhs.30 lakhs.Information Memorandum (14) Jindal Thermal Power Company Limited Contingent liabilities not provided for as on March 31. 1 Case No. (JTPCL) The Govt. Outstanding Litigation Sr.95 lakhs. Claim by a Financial Institution against the Company disputed by the Company (Power Finance Corporation Limited) on the ground that the same is not due in terms of the loan documents and not acknowledged as debt of Rs. 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. 1999. Similarly. Parties Pending Before Supreme Court of India for Admission Subject of the Matter Modification of Power Purchase Agreement (PPA) Amount Involved (Rs. 14449. of Karnataka had granted permission to JTPCL for selling power directly to industrial units and the balance to KPTCL. JVSL has provided security in favour of the Company’s lenders by way of pledge of their investments in the shares of the Company for Rs. 24. 2004 1. JPTCL entered into a Power Purchase Agreement with KPTCL in November. 2000 for supply of power.

Tax Matters 2.81 487.Information Memorandum Sr. 2005: Sr. in crores 5.) Facts appeal against this order before the Karnataka High Court. No. (15) Jindal Vijayanagar Steel Limited Contingent liabilities not provided for as on March 31. KPTCL has filed this appeal before the Supreme Court against the Order of the Karnataka High Court. Case No. income tax and other levies (excluding interest) Rs. Particulars Claims against the Company not acknowledged as debts Bills discounted Disputed claims including those pending in Courts for excise & custom duties.84 Labour Cases There are six (6) labour related matters against JVSL for issues such as dismissal from employment.7 lacs. .e.104 - . An interim stay has been granted in favour of JTPCL upon depositing Rs. 1. which set aside the order passed by KERC. 3. Jindal Thermal Power Company Limited (JTPCL) Versus The Deputy Comm. 2. the Net Tax Liability (after adjusting refunds and payments) The Tax Dept. 55 lacs with the Court.71 crores i.01 149. Parties Pending Before Subject of the Matter Amount Involved (Rs. of Income Tax & Anr. 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. levied interest u/s 234B and 234C of the Income tax Act. sales tax. Karnataka High Court. Bangalore for Arguments For the Assessment Year 2001-02 & 2002-03 0. 4. No. accident at the COREX-I site in July 2002 and compensation claims aggregating to Rs.

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

The Claimant has filed this matter for the demurrage for the delivery of the limestone at the Goa Port.45 (for dispatch earned & interest) and $ 118.450 (for cost and interest for demurrage) and claiming Rs.90 crores (approx.P. The Plaintiff has in 2002 made an application for reinstatement of the suit. JVSL London Court of International Arbitration for filing Pleadings Demurrage Charges $ 57. Bangalore Subject M at t er Corex Accident W. 538 of 1999. Other Ex-gratia matters/cases List of ex-land owners to whom the payment of ex-gratia is to be made. the limestone was found to be of a different size than the one desired by JVSL. No.106 - .Information Memorandum Civil Suit No. NO. No. Toranagallu 361 D(p).) -- David James & Sons Vs. 1. JVSL Calcutta High Court for reinstatement of the suit earlier withdrawn Shares 5.. 8350Ex-gratia to be paid Claimant expired. G. Remarks 323 C / 1 Kurekuppa Chikka Basappa.17 crores The High Court has granted stay against the notice of the IT Dept. No. 60000Ex-gratia to be paid by the co. Due to the variance in the size of the limestone. Village Vaddu Name of the Ex-land owner Dodda Thimmana Gouda.P. 7B(p). & Ors. The Claimant was required to supply certain quantity of limestone to JVSL under a contract.A.family dispute not received. 1 C(p). K.) Nil Facts The Dy.Devanna 34800Ex-gratia to be paid by the co. Parties Pending Before High Court of Karnataka. S. 3352 / 2002 JVSL Vs Dy. Bellary has initiated criminal . 1880 of 2000 Mewar Growth Ltd. Case No. On receipt of the consignments. 2. 365 E Kurekuppa Criminal Cases Sr. Vs. Bellary Amount Involved (Rs. the calcinations process in the lime calcinations plant was not to expected level.. S. Sanna Thimmana Gouda Amt. The Plaintiff thereafter withdrew the suit in 1999.311.family dispute not received.P. 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.

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

104.00 Based on the order passed by the Commissioner (Appeals).00 5.37 The Tribunal has already stayed the order passed by the lower authority. • • • • • SCN-I : Order is awaited SCN-IV: Order is awaited SCNs-V & VI: Final hearing is scheduled on 20.00 Lakhs 8.04. DRI Case – II – Demand of additional customs duty on warehoused goods. Demand of duty on refractories and lock hoppers of Corex-I.90 The Tribunal has already stayed the order passed by the lower authority.00 1103. Input credit on Corex chilling: 62. 23. 10.18 4. on Highgrade 47. 4920. The final hearing is scheduled on 19. Show cause notices for demand of excise duty on sale of Corex gas supply to JTPCL / JPOCL.00 Pending before the Supreme Court of India. material in nature. Input credit pellets. 2.Information Memorandum 1.99 Appeals pending before the CESTAT / Commissioner (Appeals). issued by the Central Excise and Customs Authorities : . Order is awaited. Bangalore.40 The Tribunal has already stayed the order passed by the lower authority. The final hearing will be held on 27. The Tribunal has already stayed the order passed by the lower authority. 7.150 Crore received by JVSL from JISCO. PH is awaited. Levy of differential duty on scrap: Goa Customs: Lakhs Rs. Response is awaited from Chennai Customs.05. The final hearing is scheduled on 11. Final reply submitted.04.740.00 Appeal before the High Court of Karnataka has been filed.05.5. 4851.108 - .5. PH is awaited in May’05.05 SCNs-VII.4. Chennai Customs: Rs. 6. The final hearing was held on 04. our Stay-cumappeal has been filed before the CESTAT. Demand of additional interest charges on warehoused goods 9. The Tribunal has already stayed the order passed by the lower authority.363. Met-coke import: CG given for Anti Dumping Duty (ADD) 908. Bangalore.05.05. The final hearing is scheduled on 19.5. 3. Customs & Excise (Down Stream SBU): The status of various show cause notices / demands.05. Duty on interest free advance of Rs. VIII & IX: awaited Order is SCN-X not yet issued by the dept.

10. (Rs in Lakhs) Status 1.04 under Special Entry Tax Act-2004. Disallowance of Cenvat credit availed in respect of furnace oil used in captive power generation. Withdrawal of DEPB Benefit on account of difference between the declaration in shipping bill and physical examination of goods.23 Appeal pending for hearing before the Assistant Commissioner of Sales-tax (Appeals). 47. Description Amt. Appeal pending for hearing before the Appellate Tribunal. Sales Tax (Down Stream SBU): Sr. of CST Vs JVSL There are no cases pending in respect of Sales tax & Entry tax for the period ended 31.) 1. 50.23 Reply to show cause notice filed – Nothing further has been heard.30 lacs have been debited under protest.f. Details Amt.20.10. 7. Valuation of inter unit transfer of CR FH Coil @ 115% of cost of production instead of at comparative price Duty demanded on sample drawn for in-house quality test Cenvat credit availed on capital goods Duty demanded charged in invoice on interest 0. Income Tax (Up Stream SBU): .79 Amount debited under protest. Further. 6.78 lacs A demand was raised by the CST Dept.89 Appeal pending for hearing before the Appellate Tribunal. on account of not furnishing Form C and Form F.e. 85.03. No. Appeal pending for hearing before Tribunal.00 Appeal pending for hearing before the Commissioner (Appeals).109 - . 0. for which the Company obtained stay from the High Court of Karnataka. No. 01.89 Rs.75 Reply to show cause notice filed – Pending for hearing.269 lacs (approx) is provided on account of new levy imposed by Karnataka Government w. 2. (Rs in Lakhs) Status 1. 5. 1.00 Appeal pending for final hearing before the Appellate Tribunal. The Forms have now been submitted and a revised order is expected. Comm. 4. 3. contingent liability of Rs.2005. Sales tax liability on account of nonsubmission of Form F in respect of branch transfer.Information Memorandum Sl. 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. Imposition of penalty under Rule 209A of the Central Excise Rules. 2. 18.36 Reply to show cause notice filed – Pending for hearing before the jurisdictional commissioner.

Total 1891. Notice of penalty u/s 202(1) r. 2 Appeal to Karnataka High Court against order of Income Tax Appellate Tribunal for Assessment Year 1995-96. No.99. Company appeal for assessment of interest under the head Business Income as against Other Sources.41 Appeal being filed before the Commissioner of Income-tax (Appeals). The Tribunal has allowed. is in respect of usance interest paid through ICICI on usance LC. 2.110 - . interest disallowed u/s 14A and additions made to Book Profit in respect of provision for doubtful debts and advances.618 The demand made by Dept. JVSL has replied penalty notice denying the liability relying on High court and Tribunal decisions.w. Details Value in Rs. reduction of depreciation as per Income-tax on slump sale.97. 3.50. 10. 134.96 Appeal being filed before the Commissioner of Income-tax (Appeals) 2036. Description Amt. 201(1A) for demand of withholding tax on usance interest received from income tax department 6.775 Income Tax (Down Stream SBU): Sl.42 Appeals pending for hearing before the Commissioner of Income-tax (Appeals) / Appellate Tribunal. Status . amount transferred to lease equalisation. Penalty levied u/s 271(1)(c) in respect of addition made in the assessment order passed u/s 143(3). 10. No. The High Court may not frame a question for reference. unutilised modvat credit. (Rs in Lakhs) Status 1. interest receivable written-off.79 Service Tax (Up Stream SBU): Sr. Description Usance Interest in Rs. Payment made other Bank called by Dept. 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.s. Status 1. provision for diminution in value of investments etc.Information Memorandum Sr. based on facts. No. interest & other expenses capitalised in books. Recently the tribunal decision has been reversed by High court. The Income Tax Department has filed an appeal before Karnataka High Court against order of Income Tax Appellate Tribunal. as there is no question of law is involved. Additions / Disallowances made in the assessment orders passed u/s 143(3) to Normal Income in respect of Surplus on repurchase of own debentures.

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. Based on the orders passed by the AC. 37. has given show cause notice for payment of duty of Rs. The Customs Dept issued a show a show cause notice upon JSAL stating that the benefit of the notification was not available . VAI.34 lacs. Bellary appeals have been filed before the Commissioner (Appeals).71216321). (16) Jindal Steel & Alloys Limited Outstanding Litigations: Excise Matters Dispute on demand of duty on Interest charged in Invoice raised by JISCO: Rs 21. 500 by Excise Authorities in FY 2003-04 for wrong claim of CENVAT.1.2005 at Mangalore and order is expected.Rs 2. Penalty of Rs.. Mangalore in respect of VAI & Amet.Information Memorandum 1. Show cause notice has been received for duty demand on Interest charged in Invoice raised. Service Tax Authorities have demanded service tax on consultancy services rendered by foreign parties namely.368 Replies to the notices have been submitted by the advocates on behalf of foreign parties. Austria (Rs.27 lacs levied by BSE in FY 1998-99 for belated intimation of Book Closure dates.21 Lacs plus penalty of Rs 37 lacs. 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.4A and declared that it has not avoided input stage credit. For provisional assessment of consignment sales made.975261) and Alsthom Power.. USA (Rs.Ex. Russia (Rs. Penalty of Rs.. Amet Ltd.2089786) during implementation of the project. C. The remaining eight notices have already been decided in favour of JVSL. Penalty imposed by SEBI/Other Regulatory bodies • • • Fine and penalty of Rs. Custom Matters Custom Duty – Custom dept. 7. 758. the hearing is completed on 24.19 lacs imposed by the Custom Authorities in FY 1997-98 for wrong removal of imported equipments from the bonded warehouse.111 - .1. JSAL removed goods under Form AR.42.50 lacs. The Final hearing is awaited.Ex. the final assessment is still pending.2005 at C.81. The hearing has been completed on 17. 1. In the case of Alsthom Power. Bellary and the order is expected at any time. Bank Guarantee provided to Excise Dept . : JSAL supplied some steel strips to some companies for further export. JSAL imported the consignment duty free under a notification.

employee Mr. 3.00.65. Income Tax Matters Rs. However. which has been filed being rejected.05.Rs. ii. The matter is pending before the Divisional Office of Central Excise. 4.944 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.340 and penalty and fines of Rs.36. the Company had the following contingent liabilities: i. the duty amount of Rs. Civil Matters .945 which has already been paid will also be refundable.46. An amount equal to 10% i.19.093 from the Customs Department.311 Differential duty: Rs. Other litigations The Special Director Enforcement has imposed a penalty of Rs. .44 Lacs for non-production of documentary evidence showing import of goods against remittance of Rs 4467512 under Sec 8(3) of FEMA. As against the demand for customs duty of Rs.950 No provision has been made for these amounts in this account.093 which the Customs Department has asked the Company to pay is payable contingent upon the bill of entry. is accepted.Information Memorandum and demanded the payment of duty along with penalty. The Company has replied to the show cause notice and has also represented at the time of hearing.557 Special Additional Duty: Rs. The Company has subsequently received an adjudication order from the Commissioner of Customs demanding interest of Rs.07. which has already been filed.000. the Company has paid the entire duty amount of Rs.e.112 - . Sanjay Sharma who was sacked for irregularities in his workings has filled a suit against the Company for his reinstatement as an employee. 3. If the bill of entry.07. 67. the Company has filed an Appeal against the Assessement Order.Y. 4. Disputes etc. 1352972 was paid to the Income Tax Department on basis of Assessement completed for A. 67. due to non-receipt of official order. The outstanding amounts have since been paid and with this the above show cause notice has been settled. 35. 2001-02. Litigation. 31.36. 3. 0. Rs 440000 has been deposited on 5/10/2004.944 and interest of Rs. 2004.19. A sum of Rs. the same has been reflected as a contingent liability.60 lacs An ex.65. 1.65. no credit has been taken for this refund.68. A stay application has been filled by JSAL against the show cause notice. 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. which may become due to the Company. (17) Southern Iron And Steel Company Limited (SISCOL) As on December 31. However.07.82.

The Company is in the process of filing an affidavit. The Company has made provisions of Rs. 54. However. in another case (OS No. The final hearing is awaited. The Company has filed an affidavit disputing the claim in the before the Court (case no.e. However. 3.000 to M/s Simplex Engineering.35. The Company as gone on appeal before the Division Bench of the Madras High Court.30.30. As the Company owed Rs. 31. 2. 2004 towards payment of these dues.57. M/s Eastern Metallurgical Equipments Pvt.549 lacs per annum effective from 1993. The Company is representing to TWADB for charging the originally agreed royalty of Rs. The Company made an arrangement with the Tamilnadu Water and Drainage Board (TWADB) for using their bridge for the water pipeline owned by the Company by paying royalty charges of Rs.90. The Company had filed Writs Petitions in the Madras High Court challenging the levy of belated payment surcharge of Rs.00.00. 1956 has been filed in the Madras High Court for default in payment of Rs. 2003. The Company received a letter dated October 15. the Company has made a provision of Rs.77. .844 in the execution application filed against M/s Simplex Engineering. 3 lacs per annum and the matter is pending. 1998 from Executive Engineer.92 plus interest against two companies viz.054. 204 of 2004). Indo Fab. Indo Fab has taken out garnishee order/attachment order in case no.199 in ten (10) equal installments and granted an order of interim stay in respect of the demand of surcharge.199 (inclusive of belated payment surcharge of Rs. a provision of Rs. 1.900 has been made in the accounts for the increase in the charges.000. TWADB stating that the royalty charges have been revised to Rs. 697/1996) have obtained a decree and have applied to the court for garnishee order to the extent of Rs. 2004. 16. 25.00.77. By an order dated November 02.03. 2004 from the Superintendent Engineer. Mettur Dam for payment of outstanding dues of Electricity Tax for the period February 2002 to December 2003.099) being arrears of peak hour charges for the period July 2003 up to August 2004.35. Further. Tamilnadu Electricity Board by a demand notice dated October 11. 1.Information Memorandum The Company had received a letter dated January 24. A winding up petition under Section 433 and 434 of the Companies Act. M/s Indo Fab Engineering ("Indo Fab") have obtained a decree of Rs.30. 11.221 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. A demand has been made on the Company by the Public Works department. the Company also requested that it be allowed to pay the peak hour charges of Rs. Government of Tamilnadu for Rs. 76. the Judgment Debtors in the Trichirapalli District Court. Writ petitions had been filed by the Company against the Tamilnadu Electricity Board in the Madras High Court contesting the levy of Electricity Tax. 94.89. Pending final hearing of the writ petition.77. the Madras High Court permitted the Company to pay peak hour charges of Rs. 3 lacs per annum.734. Mettur Electricity District Circle.113 - .099. 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.As per the said Act and the rules framed thereunder. 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. 2.89. 2003 on power generated by generator or the captive power plant. Madras High Court has dismissed the Writ Petitions. i. Ltd and M/s Simplex Engineering. 1. OS700/96 to the tune of Rs. 2004 has demanded a payment of Rs1. The Company filed a writ petition challenging the provision of The Tamil Nadu Electricity (Taxation on Consumption) Act.199 (without the surcharge) in twenty (20) equal installments.05.95 crores in its books of accounts till December 31.35. The Company is in negotiations with the Public Works department to reach a settlement. 16.05. CP no.221 in its books of accounts.

on or after May 17. engaged by an executive of the Company. 30 each after 3 years from the date of allotment (i. 329 of 2004) against the Company.a.29 lacs respectively. The second installment for redemption of debenture due on May 17. After May 17. 23. 40 into 2 equity shares of Rs. Employees of a labour contractor.e. 1998. starting from May 17. has filed a case in the Labour Court. to reschedule redemption of balance 4 installments. have included the Company as a party to the suit as the Company is principal employer. 1998).56 lacs and Rs. 30 to be treated as an Optionally Convertible Debenture (OCD) with an option of conversion into 1 equity share of face value of Rs. The handing over of balance portion of 49 acres has been stayed by the Court under the 3 Petitions filed by the land owners against the Government of Tamilnadu and the Company. The Company was regular in making the interest payment up to September 2000. 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. 12. demanding award of a labour contract to a particular group of land-dispersed persons. The Company has filed a writ petition to quash the order of reference. Salem (case no. Due to lack of liquidity. 1995 Balance amount of Rs. 6 (due on May 17. Government of Tamilnadu acquired 154 acres of land for the Company and passed an award for the 154 acres. 81. The Company has replied to the notice disputing the above claim. 2001 could not be paid. ID 106/2002) against the Company. 70 were issued by the Company in March 1995 as per following terms mentioned in the prospectus: • • • • Face value of Rs. the Company was not in a position to pay interest due for the period October 1. 10 each at a price of Rs. However. Rescheduling of redemption of debentures Partial Option Convertible Debentures (POCDs) of face value Rs. 2000 onwards. interest arrears and future interest as follows: . payable half-yearly in September and March. Debentures to be redeemed in 5 annual installments of Rs. symbolic possession has been given to the Company for 105 acres only. 6 each.356 plus interest thereon. The first redemption of Rs. debentures on which option to convert into equity is not exercised. A resolution was passed in a general meeting of debenture holders convened on February 25. 2002. to carry interest of 15% p. in November 2004 for default in the payment of Rs. 2000) was done by the Company except for the pending amount as stated below. 70 with a compulsory conversion of Rs. The Deputy Commissioner of Labour has referred the dispute to the Government of Tamilnadu for settlement as an industrial dispute.65. 20 each at the time of allotment on May 17.Information Memorandum The Company had received a notice under section 433 and 434 of the Companies Act. Labour related cases A driver in casual employment. 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. 2000. Civil cases One of the land dispersee has filed a case in the Court of the District Munsif of Mettur (case OS no. claiming employment in the Company.114 - . claiming wage revision from the labour contractor.

2004 Interest • Interest for the period from 01. 2004 was sent by SBI.710). 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. 7.10.2003 totaling Rs.710) and December 31. 2004 was also sent by WCSPL to SBI. 2002 and has not been associated with the company since then. Defaults in Servicing Debenture interest aggregating Rs. Chennai and has appeared before the court as a nominee director of Indian Natural Medical Products Ltd.83. In this regard. Copy of this letter was also sent to RBI. 2000 for debentures issued by the Company has not been paid for want of surrender of debenture certificates for endorsement by the debenture holders. N. 12 Rs. Maharashtra for intimating the change in directors. 1. 2002 May 17. 25 lacs and above. Rescheduled due date May 17. A letter dated October 29. in respect of West Coast Saw Pipes Limited (WCSPL). 6 Rs.12.2003 and Rs.57. October 30. For the period 01.03. 83. Mr. Subsequently. An amount of Rs.56. Litigation against Directors of SISCOL Mr.2003 onwards. 2004 (Rs.56. 2007 May 17. WCSPL filed Form 32 on November 25. 2003 May 17. Jain was not a promoter director on WCSPL and requesting SBI to inform RBI to update their list of defaulters by removing name of Mr. 2008 Amount payable per debenture for redemption Rs. However. 2005 May 17. 2004 (Rs. 5.52. 2006 May 17. 6 Nil The defaults in servicing in accordance with above terms are given below. 2002 with Registrar of Companies.70. 2001 May 17.31. 18 Rs. 4. Jain from the list.Information Memorandum Principal Original due date May 17.52.2005.2004 • • Interest for the delayed payment calculated at the same rate of 15% to be paid on 31.2000 to 30.e. Jain’s name is mentioned in the RBI list for willful default of Rs.40 per debenture on 30. (Industrial Technical Consultancy Organisation of Tamilnadu Limited) (C) Associate Companies (1) South West Port Limited (SWPL) . 1.300 being the first installment of redemption due on May 17. 6 Reduced principal Rs. 2004 (Rs. 10. advising that Mr.62.10.40 per debenture on 31. Shanmugasundaram has received summon no. Industrial Finance Branch forwarding the acknowledgement of form 32 filed with the Registrar of Companies for the resignation. Saidapet.09.f.130) has not been serviced by the Company.115 - . September 30. P.09. CC 802/02 Hg dated August 29. a letter dated October 25. 5.80 per debenture to be paid in two installments as under: Rs. Industrial Finance Branch to WCSPL advising that the letter from WCSPL requesting removal of above name has been forwarded to ITCOT Ltd. Mr. 2002 from IX Metropolitan Magistrate Court. Jain had resigned as a director from the board of WCSPL w. K. 6 Rs.550 which was due on March 31. 6 Rs. He is yet to be served with a copy of charge memo for the same.

155. as the Claimant had not dredged the entire lagoon area stipulated under the contract. JPOCL Of CESTAT Claim Duty of 12. No. Parties Pending Before Subject of the Matter Jaisu Shipping Arbitration at Claims for the Company Pvt.116 - . in lacs) Amount 111. Amount Involved (Rs.Information Memorandum Contingent liabilities not provided for relates to claims made by a dredging contractor. 3. the work had also not been completed within time.) Facts 8 Appeals Comm. Venting of Liquid Products has been treated by the Dept.) 3.30 6902.80 crores Venting of Gases has been treated by the Dept. 8 Appeals Comm. 1. SWPL has also filed a Counter Claim of Rs. 2003 were: Sr. Outstanding Litigation Sr. 1.00 Outstanding Litigation Cases filed by the Excise Department Sr. the Evidence dredging work stage carried out at Ltd. as despatch and levied duty upon the same. 3. JPOCL CESTAT Claim of Duty 7. Moreover. currently pending before arbitration. Case No.93 crores for delay and loss of profits due to a 45 days overrun along with interest @ 12. to the extent the company does not expect any determination of liability in respect thereof amounting to Rs. the Marmagoa Port Versus South West Port Ltd. 1.a. 2. Particulars Bank Guarantees Excise Duty matters disputed by the company Claims against the company not acknowledged as debt (Rs. Of Excise Vs.88 crores 2.75 lacs. (2) Jindal Praxair Oxygen Company Private Limited (JPOCL) Contingent Liabilities not provided as on March 31.96 270.00 % p. Parties Pending Before Subject of the Matter Amount Involved (Rs. as despatch and levied duty upon . No. No. Excise Vs.47 crores Facts SWPL is disputing the claim.

Comm. Comm. Comm.22 lacs 1. Of Asst. Of Excise Comm. Venting of Liquid Products has been . Technical Services and Field Service Agreements. Of Excise JPOCL Vs. Denial of MODVAT availed by JPOCL on the Capital Goods to the extent of 25% on project imports. Comm. as despatch and levied duty upon the same.) Facts 3.. Of Excise Vs. Of Excise (A) Duty on Infrastructure Services Duty on Infrastructure Services Service Tax 1. 1 case Comm. Comm. JPOCL CESTAT Asst. Case No. Denial of MODVAT credit 2. Of Excise JPOCL Vs.) Facts 4 cases JPOCL Vs.51 crores 116 of 2002 JPOCL Vs. Denial of MODVAT availed by JPOCL on the Capital Goods. Comm. Of Excise Vs. No.98 lacs Duty reimbursement expenses on of 2. JPOCL Comm. Of Central Excise (Appeals) Asst. Parties Pending Before Subject of the Matter Amount Involved (Rs. Comm. Of Excise Comm.87 crores the same. 2 Appeals Comm. Of Excise (A) Claim of Duty 90. JPOCL Comm. Venting of Liquid Products has been treated by the Dept.117 - .22 lacs 55. Comm.Information Memorandum Sr. JPOCL Comm. LOX Consumption Captive 4. Of Excise Asst. Comm. Of Excise Vs. 2 cases 6. Of Excise Comm.16 lacs Cases filed by JPOCL against the Excise Department Case No. Duty on Infrastructu re Services Duty on MTOP Duty on IT Reimburse ment 8.74 crores Duty on reimbursement of expenses Duty on reimbursement of expenses Service Tax payable on Engineering Services of Praxair Inc. Denial of MODVAT availed by JPOCL on the Capital Goods (SS Plates and 25% on project imports. Comm. Comm.74 lacs 2 cases JPOCL Vs. 1 case 7. Parties Pending Before Subject of the Matter Amount Involved (Rs. Claim of Duty 60. Comm. JPOCL CESTAT Claim of Duty 1. Of Excise Vs. 4 cases CESTAT Claim of Duty on Captive Consumption 51.48 lacs 2 cases JPOCL Vs.93 lacs 5. Asst. Comm. Claim of Duty 1.06 crores 10 Appeals JPOCL Vs.77 lacs 11. Of Excise Vs. Of Excise (A) and Asst. Comm.

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

Information Memorandum GOVERNMENT APPROVALS Since JSWHL is a holding / investment company with no business other than making investments and providing consultancy services.119 - . An application is being filed with Reserve Bank of India for registering the Company as NBFC. 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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Disclosure of the Tax Shelter Statement as required by paragraph 6. For Shah Gupta & Co.2. 5. 7. We report that in our opinion. No. Choksi Partner M. 37606 Place : Mumbai Date : 28th April 2005 . approved by the Company and annexed to this report.7 (i) of the Guidelines is given in note 7 of Annexure IV. 6.7(h) of the Guidelines have not been disclosed. 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.10. Hence the information regarding analysis of outstanding unsecured loans in accordance with the paragraph 6. 3.123 - . they have been correctly computed from the figures stated in the Statement of Assets and Liabilities and Profit and Loss as referred above. The Company has not declared dividends during any financial years covered in this report. Chartered Accountants Vipul K.2.10. The summary of significant accounting policies adopted by the Company is enclosed as Annexure III to this report. This report is intended solely for your information and for the Company to comply with the provisions of the Guidelines and may not be suitable for any other purpose. The Notes to the Statement of “Assets & Liabilities” and ‘Profit & Loss Account’ are enclosed as Annexure IV. 2005. the Statement of Capitalisation as set out in Annexure VI which has been prepared based on audited information. The Company has not taken unsecured loan. 4.Information Memorandum 2.

30 5.12 9. Expenditure Networth Note: Share Capital includes an amount of Rs.35 6.98 14.05 13.791.57 0. Reserves Less Revaluation Reserve Reserves (Net of Revaluation Reserves) Less: Misc.00 0.59 0.28 E 0.23) (3.91 1.10) 344.96 52.70) 4.1099.22 6.43 (3.35 43.23 (0.08 2.088.23 0.87) (8.32 0.217.52 0.02 0.64) 9.28 1.59 10. 2003 2004 Rupees in Lacs 8.04 B C D 4. 2005 to Shareholders of JISCO (erstwhile) in the ratio of 1 equity share of Rs.43 13.00 (4. 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.135.121.124 - .10 each for every 4 equity shares held by them in JISCO (erstwhile).12 0. .00 (0.net Current Assets.96 Lacs on account of allotment of Equity shares on 16th March.78 0.29 14.13 10. 31.28 2005 for 6.20 1.19 1.74) 53.121.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 .217.109.32 4. Share Capital (see note) 2.30 F G Net worth Represented by 1.43 0.06 (13.29 53.28 8.85 9.06 52.10) 10.02 4.87) (4.

37 529.005 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 .66 15.34 0. Break up of other income is : Dividend Interest Consultancy Fees Profit on sale of Investments - 0.125 - .50 0.76 4.50 0.50 0.42 5. 31.21 0.71 36.15 0.65 1.66 .34 12.09) (5.90 532. 2003 2004 Rupees in Lacs 2.33 5.18 0.48 - - 0.66 560.09) 560.33 0.42 560.53 19.21 0.33 504.42 (5.50 0.22 27.06 0.Information Memorandum Annexure II STATEMENT OF PROFITS AND LOSSESS 2002 Year ended March.29 0.Current Add: Deferred Tax Assets Net Profit after Tax * Since the said company is an NBFC and not manufacturing company there is no sales.23 0.

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

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

10 each to the Shareholders of JISCO (erstwhile) in the ratio of 1 equity share of Rs.243 The aforesaid difference has been credited to General Reserve as per the ‘Scheme’ approved by Hon’ble High Courts of Bombay and Karnataka. 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. along with certain loans & advances. b Pursuant to the Scheme.5.999.493 109. 2005 respectively.996.923. 2003 in accordance with the Scheme. the Company has issued 10. Ltd (JISCO)(erstwhile). c Rupees Investments & Loans & Advances Less : Amount of Equity shares issued to the shareholders erstwhile JISCO Excess Credited to General Reserve of 5.265.000 3.625 fully paid up equity shares of Rs.753.334.243 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.250 5. 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. The Company has incorporated investments and Loans & Advances at fair value as determined by the valuer. referred to as Investment division has been transferred to the Company with effect from 1-4-2003 (Appointed date). a. 2004 & 20th January. the Investment Portfolio of Jindal Iron & Steel Co.Information Memorandum Annexure IV NOTES ON FINANCIAL STATEMENTS 1. 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.824 . which is allowed as per Accounting Standard (AS) 14 “Accounting for Amalgamations” issued by the Institute of Chartered Accountant of India.155.753.155.10 each for every 4 equity shares held by them in JISCO (erstwhile). d From 1st April.510 545.749. Accordingly. JISCO (erstwhile) had carried the Investment division in “trust” on behalf of the Company. 2003. Pursuant to the Scheme of Arrangement and Amalgamation (Scheme) sanctioned by Hon’ble High Courts of Bombay and Karnataka on 3rd September.128 - . The difference of Rs. as disclosed in Schedule B.334 865.

Hence. Net Deferred Tax Assets comprises: the 27.for the current year. 2003 (Appointed date) the Balance Sheet as at 31st March. The Company has become a Non Banking Finance Company (NBFC) as per Reserve Bank of India Act. 33.408/. the Company has: (i) Adjusted net Deferred Tax Liability of Rs. 1993.020 36. issued by the Institute of Chartered Accountants of India. 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.2005 Rupees (a) Expenses covered by Section 35 D of the Income Tax Act.129 - .550 11. 3.713 2003-2004 Rupees 3780 - 5.03. the Company’s primary business segment is Investing & Financing. Deferred Tax Liability : As at 31. 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. 2. In the opinion of the Board.17 ‘Segment Reporting’. As company’s business activities falls within a single primary business segment the disclosure requirements of AS-17 in this regard are not applicable. 1961 88. 2005 include the figures of JISCO (erstwhile) from the said date.499 . Loans and Advances have a value on realization in the ordinary course of business. Segment Reporting Based on guiding principles given in Accounting Standard . 4.37. 7.as at 31st March 2004 against General Reserve and (ii) Recorded Deferred Tax Assets of Rs.101/. Remuneration to the Auditors: 2004-2005 Rupees Audit Fees Tax Audit Other services Out of pocket expenses (including Service Tax) 6. 2005 and the profit and Loss Account and Cash Flow Statement for the year ended 31st March. 1934. the figures of the current year are not comparable with those of the previous year. These activities mainly have similar risks and returns. 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.Information Memorandum e In view of aforesaid Scheme with effect from 1st April. 1. at least equal to the amount at which they are stated. Current Assets. The Company is in the process of completing necessary formalities for registration.

Related Party Disclosures.Information Memorandum (b) Depreciation Deferred Tax Assets : 23. Computation of Basic and Diluted Earnings per share: 381. “Related Party Disclosures”. Ltd.900 9.000 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.130 - . 2. Sun Investments Pvt.15. Details relating to investments in the above related parties have been disclosed in Schedule C "Investments".629.167.922 Nil Nil Previous Year Referred to in (a) (i) above (Rupees) Nil 1.500 Nil 1. Related party relationship is as identified by the management and relied upon by the auditors. .000. as required by Accounting Standard 18.000. (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 48.337 8.000 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. 1961 2.983 Previous Year Referred to In (a)(ii) above (Rupees) 17.145 (a) Expenses covered by section 35 DD of the Income Tax Act.

The additional Information pursuant to Part II of Schedule VI to the Companies Act.099.618 11.per share) (Rs. Current year’s figures include the figures of investment business of JISCO (erstwhile) and hence.204) 100. 10/. 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. There are no internal or external indications existing on the Balance Sheet date indicating that an asset is impaired.000 (5.131 - . 12.Information Memorandum Particulars 2004-2005 Rupees 52.948. Previous year figures have been regrouped/ rearranged wherever necessary to confirm with current year’s presentation.625 4.77 2003-2004 Rupees (509.09) Profit (loss) after Tax (As per Profit and Loss Account) Total Number of shares Earnings Per Share (Basic and Diluted) (Face Value – Rs. 1956 are either Nil or Not Applicable. 11.) 10. not comparable with that of previous year. .

000 10 936.422 - 0.618 11.204) 100.321.000 9.000 22. 31 2003 2004 2005 Net Profit after Tax No.264 RONW 3 Net Asset Value (a)*100/(b) 0 2.09) 52.625 4.45 .728.995 Net Assets No.205) 5.321.684 100.728.948.000 (5.204) 52.000 0 22.948.132 - .000 50.205) 5.77 Net Profit after Tax Net Worth (a) (b) 500.000 0.09) 11.625 479.Information Memorandum Annexure V Accounting Ratios 2002 1 Earning Per Share For the year Ended on March.099.000 (3.264 100. of Shares EPS 2 Return on Net Worth (a) (b) (a)/(b) 50.23 (509.618 (309. of Shares NAV (a) (b) (a)/(b) 500.099.473 100.684 936.473 (509.36 (309.

231.00 52.87) 5.00 (4.133 - .13 1.Information Memorandum Annexure VI CAPITALISATION STATEMENT Pre-issue as at 31-3-2004 As adjusted for Issue (Rupees in lacs) Short Term Debt Long Term Debt Shareholders Funds: Share Capital Reserves Total Shareholders Funds Long Term Debt /Equity 10.06 - NOTE: Since there are no Long Term and short term Debt.06 53. .121. total Debt / Networth and Debt/ Equity ratio is not applicable.110.

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

Subject to the provisions of Section 260. A Director of the company shall not be bound to hold any qualification shares. but the Company shall nevertheless be at liberty to record and attend to any such notice and give effect thereto if the Board shall so think fit. and 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. 2) 117.Information Memorandum person having or claiming any equitable right. Subject to the provisions of Section 261. title or interest or notice prohibiting registration of such transfer. in any book of the Company. the number of Directors (excluding Debenture and Alternate Directors) shall not be less than three nor more than twelve. notwithstanding that the Company may have had notice of such equitable right. the Directors shall have. Any such additional Director shall hold office only up to the date of next Annual General Meeting. subject to the provisions of Section 255 of the Act. 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. which may occur as a result of any such Director or Directors ceasing to hold that office for any reason whatever. or referred thereto. Saibal Kanti Gupta Whenever Directors enter into a contract with any Government. Sajjan Jindal 2) Mr. Nirmal Kumar Jain 3) Dr. 121. 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. title or interest to or in the said shares. State or Local. The Directors may also agree that any such Director or Directors may be removed from time to time by the appointer entitled to appoint. 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. . 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. 120. The first Directors of the Company shall be : 1) Mr. 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. but so that the total number of Directors shall not at any time exceed the maximum fixed under Article 112. title or interest or be under any liability whatsoever for refusing or neglecting so to do. the Board shall have power at any time and from time to time to appoint any other qualified person to be an additional Director. and may have such notice. nominate them and the appointer may appoint another or other in his or their place and also fill in vacancy. Central. who are acceptable to the Board. Board of Directors 116. 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.135 - . 1) Until otherwise determined by a General Meeting of the Company and subject to the provisions of Section 252 of the Act. 261 and 264 of the Act. 122. 264 and 284 (6) of the Act. though it may have been entered or referred to in some book of the Company.

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

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

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

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

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