Information Memorandum

INFORMATION MEMORANDUM

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

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Information Memorandum

TABLE OF CONTENTS

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

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

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Information Memorandum

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

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

Deshmukh Marg. subject to applicable regulations. 2000. Maharashtra. K. without any further act. G. Sajjan Jindal. 100. pursuant to the provisions of Section 391-394 of the Companies Act. N. In accordance with the said Scheme. 2004 and the Order of the Honourable High Court of Karnataka was filed by JSWHL with the ROC.3. Marine Drive. 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”). 2004 and January 20. K. Maharashtra. 2005.4 of SEBI (DIP) Guidelines. the Equity Shares of JSWHL issued pursuant to the Scheme as well as existing shares of JSWHL issued for the purpose of incorporation shall. Mumbai – 400 026. stands transferred to and vested in JSWHL so as to vest in the JSWHL all the rights.5.3. Mumbai (“BSE”). Atul Desai Mr.e. Registration No.f. subject to subsisting of charges and pledges. instrument. Patel. be listed and admitted to trading on The Stock Exchange. Jindal South West Holdings Limited (“JSWHL”). N. Board of Directors 1) 2) 3) 4) 5) 6) Mr. Jain Dr. NSE and DSE at the time of the application by JSWHL seeking listing. Gupta Mr. 11-132705 – registered with : The Registrar of Companies. 5A – Dr.1 (iv) – (viii). Jt. the Appointed Date under the Scheme). Mumbai on November 22.e. Further. Mumbai – 400 002. K.5. Such listing and admission for trading is not automatic and will be subject to fulfillment by JSWHL of listing criteria of BSE. 1956. Mumbai. which is the Effective Date of the Scheme.Information Memorandum GENERAL INFORMATION Name & Registered office of the Company Jindal South West Holdings Limited Jindal Mansion. if any w. 2005 respectively. above relaxation is also subject to JSWHL confirming the following: - -5- .3. Managing Director & CEO Mr. Everest.5. 1957 (SCRR) subject to JSWHL complying with the provisions of Clauses 8. or deed. 1st April. Maharashtra. S. NSE and DSE for such issues and also subject to such other terms and conditions as may be prescribed by BSE. Shailesh Haribhakti Authority for Listing The Honourable High Courts of Judicature at Bombay and of Karnataka vide their Orders dated September 3.3 and 8. Jindal Vijayanagar Steel Limited (“JVSL”) and their respective members and creditors (the “Scheme”) whereby the Investment Division of JISCO. Chairman Mr. SEBI. Subsequently. Mumbai on February 4. 2005 has granted relaxation from the applicability of Rule 19(2)(b) of the Securities Contract Regulation (Rules). CFD/DIL/SR/38545/2005 dated April 15. 2003 (i. 8. title and interest of JISCO therein. have approved the Scheme of Arrangement & Amalgamation between Jindal Iron & Steel Company Limited (“JISCO”). vide its letter no.

namely. Jindal South West Holdings Limited nor its promoters/directors are debarred by SEBI from accessing the capital market.3. other companies promoted by the promoters and companies with which the Company’s directors are associated as directors have not been prohibited from accessing the capital markets under any order or direction passed by SEBI. or warrant that this Company’s securities will be listed or will continue to be listed on the BSE. Jindal Iron & Steel Company Limited. 1997. a copy of this Information Memorandum has been submitted to BSE. the “Public Holders” referred in clause 8. namely.5. Disclaimer Clause of BSE As required. JSWHL has submitted its Information Memorandum. JSWHL has made the said Information Memorandum available on its website. Jindal South West Holdings Limited b) Neither the unlisted transferee Company.3. 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. JSWHL will comply with the aforesaid conditions stipulated by SEBI. or -6- . 2000 excludes the following: i) Promoters and persons acting in concert of pre-arrangement listed transferor company. its directors. namely. its promoters.Information Memorandum a) For the purpose of satisfying at least 25% of post-scheme paid up capital of unlisted transferee company. The company has filed applications with BSE for listing of above Equity Shares. JSWHL will publish an advertisement in the newspapers containing its details in line with the details required as per clause 8. ii) Any shareholder of pre-scheme unlisted transferee company. The BSE does not in any manner: warrant.5.4 of SEBI (DIP) Guidelines. Caution The Company accepts no responsibility for statements made otherwise than in the Information Memorandum or in the advertisements to be published in terms of Clause 8. certify or endorse the correctness or completeness of any of the contents of this Information Memorandum.1 (iii) of SEBI (DIP) Guidelines.3.5. containing information about itself and Group Companies to BSE.4 of SEBI (DIP) Guidelines. 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. NSE and DSE for making the said Information Memorandum available to public through their websites. Jindal South West Holdings Limited to be with public holders of shares in the pre-arrangement listed transferor company. namely. Prohibition by SEBI The Company. Jindal Iron & Steel Company Limited as defined in SEBI (Substantial Acquisition of Shares & Takeovers) Regulations. namely.

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

Information Memorandum

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

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

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Information Memorandum

CAPITAL STRUCTURE

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

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

B.

: :

11,09,96,250

C.

: :

10,99,96,250

D.

11,09,96,250

E.

: :

---

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

1

27/08/01

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

50000

500000

10/-

10/-

0.45%

2

10/03/03

50000

1000000

10/-

10/-

0.45%

3

16/03/05

Pursuant to the Scheme of Arrangement & Amalgamation

10999625

110996250

10/-

10/-

99.10%

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Information Memorandum

2) Lock-in details for shares of JSWHL:

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

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

Category A. Promoter Group

Pre-Scheme No. Shares %

Post-Scheme No. Shares %

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

-----

-----

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

0.10 5.54 2.01

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

-Sub-Total --

---

18,71,431 27,20,185

16.86 24.51

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

-----1,00,000

-----100.00

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

3.95 13.64 1.37 0.56 19.52 100.00

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11 - . preferential allotment. Seshagiri Rao M V S Mr. Top ten shareholders on the date of filing the Information Memorandum with Stock Exchange Name of the shareholders Number of Equity Shares On the date of 10 days prior to the filing of date of filing of Information Information Memorandum Memorandum with with Stock Stock Exchanges Exchanges 1 2 3 4 5 6 7 8 9 10 Jindal Strips Ltd HSBC Global Investments Fund A/c CBC Bahrain FIR Equity A/c Vrindavan Services Private Ltd Gagan Trading Co. loans or other instruments into equity shares of JSWHL. Nirmal Kumar Jain Mr. No. 7) There will be no further issue of Equity capital whether by way of issue of bonus shares. Ram Prakash Nangalia Mr. Total 1137043 842049 825751 642400 538137 480699 419584 365332 333403 320500 5622888 1137043 842049 825751 642400 538137 480699 419584 365332 333403 320500 5622888 (b) Sr. Ltd. Vijay Karayi Total 20000 15000 14300 100 100 100 100 100 100 100 50000 6) As on the date of this Information Memorandum. Vishnu Prakash Garg Mr. Ltd. Top ten shareholders on the date of incorporation of JSWHL Name of the shareholders Number of Equity Shares on the date of incorporation of JSWHL 1 2 3 4 5 6 7 8 9 10 Gagan Trading Company Limited Reynold Traders Private Limited Vrindavan Services Private Limited Mr. Kantilal Narandas Patel Mr. Raman Madhok Mr. Beaufield Holdings Ltd Jindal Equipment Leasing and Consultancy Services Ltd Sun Investments Private Ltd HSBC Equity Fund Reynold Traders Pvt. there are no outstanding warrants. by way of split/consolidation of the denomination of Equity Shares or further issue of Equity Shares (including issue of securities . 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.Information Memorandum 5) The list of top 10 shareholders of JSWHL and the number of Equity Shares held by them: (a) Sr. rights issue or in any other manner during the period commencing from the date of approval of the Scheme by the High Courts till listing of the Equity Shares to be allotted as per the Scheme. options or rights to convert debentures. No.

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

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

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

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

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

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

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

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

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

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

Jt. S. Patel Mr. Term of Office All the directors are liable to retire by rotation except Mr. Managing Director & CEO w.f April 28. Managing Director & CEO.600 984 --No of Shares of JSWHL allotted as per the Scheme 3. Patel has been appointed as Jt.N. Managing Director & CEO. Other than as stated above and the respective shareholding of the directors mentioned above. K.2005 Since incorporation Since incorporation 31. Managing Director & CEO of the Company for a period of 5 (five) years w. S.760 2. K. N. Change in Board of Directors of JSWHL since its inception Name Mr.e. Atul Desai Mr. K. N.189 550 4. . Mr. reporting to Mr. N. Shailesh Haribhakti Date of Appointment Since incorporation 28. Gupta Mr. Jain Dr. Jain Dr. K.e. 2005.01. K. Sajjan Jindal Mr. Mohta is responsible for Management Services Division and reports to Mr. K. Atul Desai Mr. Shareholding of Directors Name of Director No of Shares of JISCO as on February 25. N. K. 2005 (i. Legal and Administration work of the Company. N.Information Memorandum Mr. Gupta Mr.2005 Date of Resignation ------Reasons Appointed as Director Appointed as Jt. K. S. K. 2005 and is responsible for the management of day-to-day affairs of the Company under the over all supervision and control of the Board of Directors. the record date) 12. 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. Patel is Jt.2005 31. Patel Mr. Gupta Mr. N. Patel. Managing Director & CEO Appointed as Director Appointed as Director Appointed as Additional Director Appointed as Additional Director Management Organization Structure of JSWHL Mr. Patel. Sajjan Jindal Mr. Atul Desai Mr.f.04. K. Patel. K.e.200 19. K. N. the directors of JSWHL have no other interest in JSWHL. who has been appointed as the Jt. Mr. Virendra Samani is appointed as Company Secretary and is looking after the Secretarial. Shailesh Haribhakti Interest of the Directors Mr. N. April 28. Jain Dr.01. Manoj Kumar Mohta has been appointed as Deputy General Manager.900 246 --- Mr. Mr.22 - .

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

iv Everplus Securities & Finance Ltd v Mansarover Investments Ltd.: 44304/Hissar Passport No. Ltd. Rajinder Parkash. Ratan Jindal.861 206. Mr. Mrs. Consequent to the merger of the two companies. (Mech. He has more than twenty years experience in the industry.22 4. A. Shareholding Pattern The shareholding pattern as on March 31. (A) Promoter Companies (1) Jindal Strips Limited (JSL) The company was promoted by Late Shri O. Mr.) Driving License No.738 112. Sajjan Jindal. Category No.Information Memorandum PROMOTERS/PRMOTER GROUP COMPANIES AND ASSOCIATED COMPANIES Educational Qualification: B. mainly dealing and investing in securities.59 9. Promoter Group Companies and Associate Companies as given below. The board of directors of the company comprises Mr. Jindal is the Vice Chairman and Managing Director of the merged entity. vi Nalwa Investments Ltd.E. He was instrumental in setting up JVSL. Rakesh Garg. Ltd.80 1.: F 0256563 Mr. the company is now a Non Banking Finance Company.395 2. vii Stainless Investments Ltd. Deepika Jindal. ii Sun Investments Ltd iii Colorado Trading Co. 2005 is as follows: Sr.20 1.683 78. of shares % of shareholding 133. The group companies have been classified into the Promoter Companies. He is also the Chairman of Jindal Thermal Power Company Limited and Twenty-First Century Printers Limited. is Chairman of the Company. Garg and Mr.P. Mr.V. He was the Chairman and Managing Director of erstwhile JISCO and the Managing Director of JVSL.24 - . Jindal and was incorporated on November 18.794 62. Indore and a member of TTD Development Advisory council and Bombay chapter of the Young President Organization.G. No. 1975.158 92. H.53 . Mishra.01 1. Promoter’s holding 1 Promoters: Indian Promoters: i Gagan Trading Co. aged 46 years. He is also the director of Indian Institute of Management. The name of the company was changed to Jindal Strips Limited on May 5. 1970 as Jindal Strips Private Limited. R.83 2. Mr.248 504. Jindal is the director in Jindal Aluminum Limited and South West Port Limited. Mr. Subsequent to restructuring.

Government Institutions) FIIs.229 120.361 1.38 100.964 1.19) (86.63 2.01 2.437 0.07 5.856.24 2001-02 18.06 2.22 2002-03 5.268 109.56 2.00 Financial performance The financial performance of the company (Rs.729 311.35 0.65 40% 15.03 0.611 54 2.26 12. 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) 54.611 274.Equity Reserves and surplus (excluding revaluation reserves) Sales (including Excise duty) Interest and Dividend Income Other Income PAT Dividend (%) EPS (Rs.279. in crores) is given below: Share capital .163 0.59 778 32./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.Ltd xi Jindal Equipment Leas & Con.000 55.393 141.780 186.48 6.246.687 185 2.12 1.74 44.41 1484.13 293.25 - .91 446. b. Insurance Companies (Central/ State Govt.136.Ltd xii Saw Pipes Ltd.07 8.994 488.23 2. Financial Institutions.923 268.99 253.145 257.64 3.26 81.00 55.35 0. c. Institutions / Non. viii Manjula Finances Ltd ix Vrindavan Services P. d.45 6.205. Sub-total (3) Others: Private Corporate Bodies Indian Public i.565 30.70 60% 5.) BV (Rs.51 5.751 312.02 0.565 125.00 43.46 11.05) 495.Information Memorandum 2 B. c. 3 a.44 (44.66 .199 5.13 249.419 2. b.00 1. Ser.08 23.Ltd x Hexa Securities & Finance Co.62 1.08 5.) 2003-04 5.61 31.76 9. 4 a.

0001 0. Mahesh Jain.00 The market price of shares of the company (as on March 31.00 BSE Low (Rs.00 294. 132.60 365.00 239.50 251.00 218.0000 .00 245.) 197.) 210.0001 0.00 250.08 crores.30 244.9509 13.15 and the market capitalization was Rs. The company has engaged the services of a Registrar & Transfer Agent to handle the grievances of the investors. (2) Jindal Holdings Limited The Company was incorporated on February 6. Rajendar Gupta and Mr.) 208. Om Prakash Jindal Mr.0001 0. The Board of directors of the company comprises Mr. Resolved/Replied: 520 and Pending:20.00 196.Information Memorandum Stock Market Data Month September 04 October 04 November 04 December 04 January 05 February 05 March 05 NSE High (Rs.) 197.00 252.26 - .0488 100.00 268.00 292. Madan Lal Gupta.0001 0. Prithviraj Jindal Mr.90 High (Rs.00 Low (Rs.0001 86. 257. Mr.90 242.25 230.80 330. Sajjan Jindal Mr. 2005) on BSE was Rs. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Mr. of Shares 10 10 15 10 10 10 16085755 2414000 18499820 % of shareholding 0. Particulars of investor complaints during the period April 2004 to March 2005 are as follows: Complaints Received: 540. The average time taken by the company for redressal of complaints varies from 7 to 20 days.00 250.00 360. It is registered with RBI as Non Banking Finance Company and main business is to deal in securities. depending on the type of complaint.10 197. 1990 in the State of Maharashtra and thereafter the registered Office of the company was shifted to State of Haryana on November 9.10 216.00 310. 1998. in lacs) is given below: No.0001 0.90 243.05 222. Naveen Jindal Mr.00 282. Sushil Bhuwalka Jindal Strips Ltd Jindal Steel & Power Ltd Total Financial performance The financial performance of the company (Rs. Ratan Jindal Mr.30 284.

025.658.) BV (Rs.000 47.10 (10. The Board of directors of the company comprises Mr. P.08 NIL 0. Investment M/s R.61 12.750 181.01 (216.84 3.98 5699. Jindal Strips Ltd Jindal Equipment Leasing & Cons.954.) FY03-04 167.000 2.70) Nil 32.98 5699.67 FY01-02 1849. D.250 17.927. P.525 16. Ltd.12 83.433.000 640.08 (3) Stainless Investments Limited This Company was incorporated on September 15.95 7.31 14.44 14.758.06 441.457.420.21 0. Mr.581.62) 17.420.320. Pental Holding Ltd.250 4.732. The Company is engaged in the business of finance. 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.08) Nil 34.29 100.040. The Company was registered with Reserve Bank of India as Non Banking Financial Company (not accepting public deposit) on 12th March 1998.44 14.60 FY01-02 167.717.000 551.37 (298.92) NIL (0.28 0.750 181.433.420.627.000 1.000 160.44 14.420.000 2.000 1. of Shares 1. Heston Securities Ltd.450 52. Investments Beaufield Holdings Ltd Templar Investment Ltd.000 2.250 27.) BV (Rs.05 FY02-03 1849.581.Information Memorandum Particulars Share capital Reserves and surplus (excluding revaluation reserves) Turnover /receipts Profit /(loss) after tax Dividend (%) EPS (Rs.05 17.74 18. Investment and finance related consultancy services.12 24.200 2.581.3 FY02-03 167. Goel.750 181.98 5699. 1982 as a Private Limited Company and converted into a public limited company. Estrella Investment Co. Sunil Mittal and Mr.12 5. Services Ltd M/s R.27 - .82 0.44 13.256.175 % of shareholding 6.) FY03-04 1849.55 No. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Mansarover Investments Ltd Ever plus Securities & Finance Ltd Jindal Steel & Power Ltd.983.477.433.13 (77. Mahender Kr.41 6.000 2.72 NIL 0.63) Nil 33.112.K. Sharma.12 3.242.00 (excluding .

000 218.43 2.953. Goel.538.00 (excluding (5) Jindal Equipment Leasing and Consultancy Services Limited The Company was incorporated on March 29.22 19.823.01 13. Ltd.17 FY01-02 1. Vrindavan Services Pvt.68 FY02-03 1.823.17 7.038.383 (22.500 912. Board of directors of the company comprises Mrs.15 12.01 13.816. 1984 as Jindal Equipment And Finance Limited. Other individuals/HUFs Total Financial performance The financial performance of the company is given below Particulars Share capital Reserves and surplus revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs.39.) BV (Rs. The Board of directors of the company comprises Mr.000 218. Services Ltd Jindal Strips Ltd.500 10. Jindal Holdings Ltd.The Company is registered with RBI to carry on the business of Non Banking Financial Company.000 13.39.000 340.856.78 13. Pental Holding Ltd.Information Memorandum (4) Mansarover Investments Limited Mansarover Investments Ltd was incorporated on June 8.61 18.816. Estrella Investment Co. Shallu Jindal.800 % of shareholding 0. Saxena and Mr. D.697. 1981 as a Private Limited Company and subsequently became a public limited company.) FY03-04 1.000 1.54 1.828. of Shares 115.597.01 2.517.000 218. Goel.538. 1998. Mr. With effect from August 7. Stainless Investments Ltd. Manjula Finances Ltd.000 1.000 35. Beaufield Holding Ltd. K.39.538. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Abhinandan Investments Ltd.831) NIL 1.83 6.816.000 1.816. Ratan Jindal. Templar Investment Ltd. Ltd.5 20.442 NIL 1.9 No.000 13.800 223. S. 1986 the name of the company was changed to Jindal Equipment Leasing & Consultancy Services Limited .823.01 13.28 - .85.000 15. The Company was registered as NBFC with Reserve Bank of India (not accepting public deposit) on September 25.60 1.500 300. The Company is engaged in the business of finance. K.000 1.783 2.01 13. Ashok Goel and Mr. Investment and finance related consultancy services. S.0023 NIL 0. Heston Securities Ltd.44 100.124.816.000 1. . D. Jindal Equipment Leasing & Cons.000 1.500 199.726 21. Mr.

21 19. Musuko Trading P.300 1.06 (6) Nalwa Investments Limited The Company was incorporated on February 6.000.69 6.000 40.) NIL (1.30.000 19. Mansarover Investments Ltd.000 13. Aras Overseas P.000 1.Information Memorandum Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Abhinandan Investments Ltd.45 34.000 23.327. 1998 the Company got registered with Reserve Bank of India as Non Banking Financial Company (not accepting public deposit).327.750. Subscribed & paid-up) 7. Sun Investments Pvt. Ltd.750.750. Ltd. Shareholding Pattern The shareholding pattern is as follows: .000 521.07 1.000 115.465. The Board of directors of the company comprises Mr.29 - . Gagan Trading Co Ltd.568. Ltd.74 14.700 % of shareholding 3.327.20.600 (10.327 NIL 6.000 302.792 48.000 65.95 3. 10/-each 2. 100/-each Reserves and surplus (excluding revaluation reserves) Sales PAT Dividend (%) EPS (Rs. Subhash Chandra Sharma.003.000 419.531.570 NIL 1.000 100.Ltd.000 23.732.000.) FY03-04 FY02-03 FY01-02 No. Vrindavan Services Pvt. Jindal. 1981 and is engaged in the business of finance.000 302. On March 21.815.57 18. Renuka Financial Services Ltd Jindal Holdings Ltd.630.000 500.500 285. Stainless Investments Ltd.49 5.77 77.000.531.43 100. P.900 7.29 1.39) 33.394.193. S.80 6.127.000 10% Cumulative Redeemable Preference Shares of Rs.29 17.00 77.) BV (Rs.000 302.000 23. Investment and finance related consultancy services.000 100. R. Jindal Strips Ltd. Saxena and Mr.000 1.47 1. of Shares 248. S.51 77.732.700 Equity Shares of Rs.26 40.476 11. Other individuals/HUFs Total Financial performance The financial performance of the company is given below Particulars Share capital (Issued. Mr.

There has been no trading in shares in preceding six months (7) Abhinandan Investments Limited The Company was incorporated on April 6.000.000 Nil 36.50. the Company got registered with Reserve Bank of India as Non Banking Financial Company (not accepting public deposit).650 % of shareholding 0. Sunil Mittal and Mr.356.05 5.99 100.19 24.26) (183.35 0. & Finance Ltd. Sun Investments Ltd.705 23.150 23. Mr.31 7.000 10% Cumulative Redeemable Preference Shares of Rs. Parmod Garg.000 Equity Shares of Rs. O.753.572. of Shares 1.13 (136.) BV (Rs.457. Investment and finance related consultancy services.Jindal & Sons HUF S. 1998.Jindal & Sons HUF P.) No.K.350 112.500.59) Nil (18.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.700 100 10.222 (8.8) 4.59) (189) 4. 1983 and is engaged in the business of finance.00 FY03-04 FY02-03 FY01-02 4.550 5.89 4.K.5) This company is listed on Delhi Stock Exchange Associations Limited.Jindal R.650 23.000.517.14 5.221.701.35) NIL (5.000 140.Information Memorandum Name of the Shareholder Abhinandan Investments Ltd. On March 19. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Arti Jindal Naveen Jindal Sajjan Jindal S. Subscribed & Paid-up) 4.74 43. 100/-each Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs.000 % of shareholding 0.000 19.R.10 5.850 197950 450. 10/-each 1.500.26 5.K. The Board of directors of the company comprises Mrs.038.101 (2.P.400.100 34.000 140. of Shares 200 10.400 32.30 No.Jindal & Sons HUF . Deepika Jindal.000 Nil 12.713.34 NIL 52.13 7.34 1.500.33 .000.000 140.000 Nil 39. Everplus Sec.

w. which produces thicker gauge steel strips.000. 10/-each 8.50 4.409.000 81. Mr. 1983 on Delhi Stock Exchange Associations Limited. Savitri Devi Jindal (Chairperson) Mr.255. As part of backward integration.000 Nil 23. A. Mr.000 8.J. Kuldip Bhargava.3) 2.850 10.132.10.) (Equity Shares only) FY03-04 FY02-03 FY01-02 2.000 81.51) (276) (8) Jindal Saw Limited The company was incorporated on October 31.000.000 500 1. Sminu Jindal.00 0. The company is an established player in the country for manufacturing and coating large diameter Submerged Arc Welded (SAW) line pipes. Devi Dayal. Moosa Raza.000 81. S.43) Nil (37.HUF Ever plus Securities & Finance Ltd Sun Investments Pvt.502.000 8.650 10. Swastik Foils was amalgamated into the company in 1988-89.907.f.03 100. Satya Prasad and Mr.33 11. H.00 Shares of the Company were listed on November 28. Jindal.060.31 - . Mr. Tauro.127 (7.986. Mr.43) (291.000. Financial performance The financial performance of the company is given below Particulars Share capital (Issued. The board of directors of the company comprises Smt.000 92.9) 2. Chaudhary. January 11. a subsidiary of Jindal Strips. R. Ltd Stainless Investments ltd Mansarover Investments ltd Nalwa Investments ltd Jindal Strips Ltd Others Total 10.70) NIL (15.000.R.Jindal .00 4.812 18.000 5.e. Mr.741 (3.28 (199.000 Nil 13.650 13. Purshottam Lal. M.00.Information Memorandum Savitri Devi Jindal Deepika Jindal P.000 10% Cumulative Redeemable Preference Shares of Rs. The company is a global player in the field of energy transportation with state-of-the-art facilities in four locations in India and is also involved in the manufacture of pipes including seamless pipes and coating thereof.33 6. Swastik Udyog.000 Equity Shares of Rs.25 0.945. 1984 as Saw Pipes Ltd.000.000 Nil 20.A.000. Subscribed & Paid-up) 2.00 46.) BV (Rs. There has been no trading in shares in preceding six months. V. 2005. The name of the company was changed to Jindal Saw Ltd. 100/-each Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs. Mr.37 NIL 91.83 5. Ms.93 5.650 23.086.050 200. P. was merged with the company in 1991-92. Shareholding Pattern .

17. Financial Institutions.07 100.30 56.32 76.) 188.) 200. of shares % of shareholding A.34 804.58 2002-03 38.) 183.55 9.98 290.68 754.41 91.50 235.Foreign Promoters Persons acting in concert Sub . 3.08 25% 19.60 249. d.88 4.34 15% 10. Insurance Companies (Central/State Govt.631.25 212.50 and the market capitalization was Rs.35 242. . Institution. b.50 304.90 2001-02 46. 2005) on BSE was Rs. in crores) is given below: Equity Share capital Reserves and surplus (excluding revaluation Reserves) Sales (including Excise duty) PAT Dividend (%) EPS (Rs. The company has engaged the services of a Registrar & Transfer Agent to handle the grievances of the investors.24 25% 14.26 11. Institutions/NonGovt.00 191.80 242.) Stock Market Data Month October 04 November 04 December 04 January 05 February 05 March 05 NSE High (Rs.37 0.30 244.52 -33.96 76.35 The market price of shares of the company (as on April 5.264 4.98 335.457.40 Low (Rs. 1.658 -2. 2004 to March.419 1763356 4864705 6262320 -12. Non Promoters’ Holding Institutional Investors Mutual Funds and UTI Banks.05 -7. c.755. Foreign Institutional Investors Sub .381 38.458 4.13 42.65 crores. a.355 97.) BV (Rs.Indian Promoters .874.100 -21.30 235.05 180.48 225.702.50 -55.Total Others Private Corporate Bodies Indian Public NRIs / QCBs Any other (please specify) Sub .Total Grand Total No.00 236.979. a.50 250.Information Memorandum The shareholding pattern as on March 31.) 205. 287. 2005. 1120. 1.90 High (Rs.Total B.800 45.43 102.00 Financial performance The financial performance of the company (Rs.558 3.56 1123.890.05 215.00 2003-04 38.60 242.00 BSE Low (Rs. The average time taken by the company for redressal of complaints is up to 15 days. 4.25 c.00 192.90 287. 2. b.00 182.32 - .95 236. Nil complaints were received and pending from Equity shareholders during the period December. depending on the type of complaint. 2005 is as follows: Category Promoters Holding Promoters: .05 285.00 305.659.

Institutions/Non.00 Nil 30. L. R. Financial Institutions. 2. P. Foreign Institutional Investors Sub . 41300 198600 239900 240000 17. Mr.89 Nil (203.33 - . 1983 and is in the business of investment and trading in shares.Information Memorandum (9) Colorado Trading Company Limited This Company was incorporated on January 17. 1.) BV (Rs. Jain. a.Total Others Private Corporate Bodies Indian Public NRIs / QCBs Any other (please specify) Sub . NON PROMOTER’S HOLDING Institutional Investors Mutual Funds and UTI Banks. Shareholding Pattern The shareholding pattern is as follows: CATEGORY PROMOTERS HOLDING Directors Persons acting in concert Sub .59) 10.37 FY-01-02 224 0. b. Financial performance The financial performance of the company (Rs. 1983 on Calcutta Stock Exchange Association Limited and no trading has taken placed during last 6 months. M.96% 100.00% Shares of the Company listed in April. The Company has not issued any rights or a public shares in last five years. Gupta.) FY-03-04 224 0.Total B.75% 99.84 10.89 Nil 74. Institution.21% 82. 4. c.04% - A. Insurance Companies (Central/State Govt.Govt. b. of shares 100 100 % of shareholding 0.56) Nil (84.89 Nil (1.04% 0. in lacs) is given below: Particulars Share capital (including preference share capital) Reserves and surplus (excluding revaluation reserves) Sales PAT Dividend (%) EPS (Rs.82) 10. a. R.Total GRAND TOTAL No. 3.41) Nil (0. R.37 (10) Gagan Trading Company Limited . d. c.37 FY-02-03 224 0. Swami and Mr. The Board of directors of the company comprises Mr.

No.369.42) (12.90) 533. 2002.) FY 04 1715.” with effect from March 29. in lacs) is given below: Particulars Equity Share Capital Reserve and Surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.90 (3344. Mr.000 1. The Company has not come out with any Rights or Public issue in the last five years. Nacho Investments Ltd.000 20. Bavneesh Gulati. of shares 67. R.100 2.75 *(0.000 20.65) (8. Sarmento Holdings Ltd. The company was reconverted into a private limited company on April 5.000 20.53 6. Gagan Trading Co. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Sun Investments Pvt. Others Total Financial performance The financial performance of the company (Rs.91) FY 03 1715.877.49.09 (2168. Templar Investments Ltd.83 11.30.000 2.00 * EPS has been arrived at after considering Dividend on Redeemable Cumulative Preference Shares.000. 1997.45 100. Kole and Mr.30. (11) Vrindavan Services Private Limited (VSPL) Vrindavan Services Private Limited was incorporated on April 8. Ltd. Heston Securities Ltd.564.40) No. Bavneesh Gulati.99 (193.N.83 1.40 11.83 11.) BV (Rs.S.77 10.900 % of shareholding 21.83 11.269.68 7. trading in securities and providing management consultancy services. P.880.600 2. 1983 as a public limited company. trading in securities and providing management consultancy services.59.000 % of shareholding 39. Ltd. Sriram. K. Mendeza Holding Ltd.30.60.R. 1982 as a Private Limited Company and converted into a public limited company “Vrindavan Services Ltd.64) (8.25 . Beaufield Holdings Ltd. Board of directors of the company comprises Mr. P. Pentel Holdings Ltd. Estrella Investments Ltd.38) (9. Rajeev Pai. Kole and Mr.90 (3241.34 - .250 2.65) 471.83 11.Information Memorandum The Company was incorporated on January 31.000 3.90 (3150.68) 54.71.79 102. of Shares 7.06 6. Jayaraman. The company is carrying on the business of investments.52) FY 02 1715.564.97) *(2.000 20.30. Heston Securities Ltd. It is into the business of investments. Mr. Ltd. Shareholders Sun Investments Pvt.30. Beaufield Holdings Ltd. The shares of the Company are listed on the Calcutta & Uttar Pradesh Stock Exchanges.06 7. Mr.450 2.000 5.71 13.R. Board of directors of the company comprises Mr.000 20.

69 17. Mr. Sangita Jindal (Managing Director).000 340.18 . No.Information Memorandum Templar Investments Ltd. Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Jindal South West Holdings Limited Jargo Investments Ltd.55 7. Vavasa Investments Ltd.94 0.25 1.27 4.513. Ashok Goel.402 6.39 FY 03 3518.) BV (Rs.000 340.500 64. trading in securities and providing management consultancy services. Musuko Trading Pvt. Baltimore Trading Pvt. J. Jindal Total Financial performance 2. Kamshet Investments Pvt. Estrela Investment Co. in lacs) is given below: Particulars Equity Share Capital Share Application Money Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs. Garg.94 0. Wachovia Investments Pvt.35 - . Ltd.40 249.711.18 0.000 340.) (12) Sun Investments Private Limited FY 04 3629.000 65. Ltd. Ltd.269.17) (0.89 5.300 5. 2003.00 219.98 0.400 1. Ltd Mendeza Holding Ltd. D. Mr.700 4.94 0.01 58.32 141.25 6.33 Sun Investments Private Limited was incorporated on June 2.” with effect from October 15.119. Sarmento Holdings Ltd.71 6. Its board of directors comprises Mrs.00 100. The company is in the business of investing.00 0. Ltd.73 5.989. of Shares 29.50 (121. Naman Enterprises Pvt. 1981 as a private limited company and converted into a public limited company “Sun Investments Ltd.66 5.13 50. Aras Overseas Pvt.299.269.400 % of shareholding 40.94 2681. The company was reconverted into a private limited Company on February 18.86 FY 02 1644.300 11. Jindal Holdings Ltd.000 140.800 3.25 6.000 625.51 (31.40 355. Ltd.72 0.96 1. Ltd.001 401 36. Pentel Holdings Ltd.39 0. Pentel Holdings Ltd.00 The financial performance of the company (Rs.80) (0. Jindal Coated Steel Pvt.900 3. Jindal Coated Steel Pvt. V. Mr. Estrela Investment Co.09) 15. Jargo Investments Ltd.000 710.000 2.19 4.000 340. Ltd.800 2.269. 1990.052. P.94 0.100 4.760.207.24 2061. Ltd.119. Nacho Investments Ltd.300 2.74) 11.18 0. Ltd. Deepak Bhat and Mr.

Puran Chand Sharma Total Financial performance 2.28 12649. it is in the business of Investments and trading in securities.01 0. Sminu Jindal Vrindavan Services Pvt.84 2.201.600 2.03 0.000 51. Ms.27 11796. Mr.55 FY 02 5827.07 Incorporated on August 11.100 39.22 0. Ltd.400 13.04 0. Mr.000 14.06 0.01 0.08 0. Jindal Ms. Shareholding Pattern The shareholding pattern is as follows: Shareholder Gagan Trading Company Ltd.000 239.02 0.30 10532.84 0.492.200 2.58) (0.000 8.033.02 0. No. P. Sangita Jindal Mr.01 0.001 898.700 23.500 13.800 3.000 % of shareholding 50.13 1828.033.02 0.01 0. Kole and Mr. Tanvi Jindal Jindal Strips Ltd.04 37. Tripti Jindal Ms.) BV (Rs. P .75 4395.03 27.02 0.000 100 71. Jindal (HUF) Mr. Deepika Jindal Colorado Trading Co.900 60. Ratan K . in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation Reserve) Income PAT Dividend EPS (Rs.000 6. Heston Securities Ltd. Ltd.00 The financial performance of the company (Rs.500 17.07 0.34 0.05 0.000 46.500 10. P.00 100.50 .800 6.04) 26. Naveen K.999 300.347.89 733.100 10.59 1.28 28.) (13) Meredith Traders Private Limited FY 04 7149. Vrindavan Services Pvt.20 161.46 12.Information Memorandum Beaufield Holdings Ltd. Tarini Jindal Ms. R. of Shares 1. Abhuday Jindal Ms.Jindal O.000 5. Mr. Deepak Bhat. 1993 as a private limited company.61 (28.36 - .01 0. Jindal Mr. Everplus Securities Pvt.300 30.01 0.76 4051. Templar Investments Ltd.01 0. Ltd. Savitri Devi Jindal Ms.28 2. Vavasa Investments Ltd.68 FY 03 7119.R. Urvi Jindal Ms. Ltd. The Company’s Board of Directors comprises of Mr.300 10. Om Prakash Jindal Ms.

investments in capital markets and providing consultancy services. Damani Mr.89) (14) Reynold Traders Private Limited The Company was incorporated on September 1.002 (715.37 - . Sunil Damani Total Financial Performance The financial performance of the company (Rs.400. Couldip Basanta Lala and Mr.39) 14.60 0. Sangeeta S.52 (90. P.99) 8.002 (670.00 (4562. Board of directors comprises Mr.) BV (Rs. 1993. Ltd.00 0.60 (330. It carries out activities of holding and letting out of property. Total Financial performance 1 1 2.62) (481073) (36253673) FY 02 0.13 2002-03 2400.12 (76.58 2729130 (33524543) FY 03 0. Mr. Ltd.00 100.62) (3.11) 3030.00 50.08) 19.00 (15) Templar Investments Limited Templar Investments Limited was incorporated on June 30.82 1801.40) 115.59 75. The company’s board of directors comprises Mr.01 12.53 (9.00 (4574. Jayaraman and Mr. Shareholding Pattern The shareholding pattern is as follows: Shareholder Mrs. 1997. Prithvi Raj Jindal.00 (1889.61) (16530489) (35772825) No. R. Dev Joory.31) 2001-02 2400. . Pradip Gaad.45) 16. Silky Investments Pvt.00 The financial performance of the company (Rs.07 21.86 54. R. It carries activities of investments and dealing in shares and securities.002 0.100 each) Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.19) (90.) FY 04 0. 100 each) Reserve and surplus Excluding revaluation reserve Income PAT Dividend EPS Rs BV Rs 2003-04 2400. Mr. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs. Kole. of Shares 1 1 2 % of shareholding 50.00 100.002 (725. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.Information Memorandum Gauri Investments Pvt.

12.800 200 7.000 % of shareholding 71.12. 1997. Pradip Gaad.00 2.00 (16) Heston Securities Limited Heston Securities Limited was incorporated on June 30.00 28. Mr.00 100.00 26.Information Memorandum Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Prithvi Raj Jindal Pradip Gaad International Trustees Limited Total Financial Performance The financial performance of the company (in US Dollars) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS BV 31. Board of directors comprises Mr. Prithvi Raj Jindal. It carries activities of investments and dealing in shares and securities.01 5000 7296767 3015505 2670935 -534 1450 No. of Ordinary Shares 3.02 5000 10878633 3784318 3631866 -726 2177 31.03 5000 11439760 572657 561127 -112 2289 31.000 % of shareholding 70.000 1.01 7000 7240903 3016130 2672687 -382 1035 No. Mr. Dev Joory. Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Prithvi Raj Jindal Pradip Gaad International Trustees Limited Total Financial Performance The financial performance of the company (in US Dollars) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS BV 31.00 .03 7000 11396160 575602 564250 -81 1629 31.400 100 5.12. Couldip Basanta Lala and Mr. of Ordinary Shares 5.12.38 - .00 100.02 7000 10831910 3784920 3591007 -513 1548 31.12.12.500 1.00 3.

03 1942 (424514) 116024 109264 -109 -31.02 1942 (533740) 63350 (148877) --31.90 0.12.10 100. Pradip Gaad. Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Prithvi Raj Jindal Pradip Gaad Other – Nominee Total Financial Performance The financial performance of the company (in US Dollars) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT/(Loss) Dividend EPS BV 31.00 (18) Jargo Investments Limited Jargo Investments Limited was incorporated on July 29.39 - .12.12.12.00 100.01 1942 (384863) 153638 45256 -45 -No. Tasoula Georgiou. It carries on activities of investments and dealing in shares and securities. It carries on activities of investments and dealing in shares and securities. Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Prithvi Raj Jindal 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. Prithvi Raj Jindal.12. Andry Tryphonos and Mr. Board of directors comprises Mr. of Ordinary Shares 650 340 10 1.000 % of shareholding 65.00 .000 % of shareholding 99. Board of directors comprises Mr.12. 1997.03 1942 (3136527) 137015 31. 1996. Prithvi Raj Jindal.00 1. Tasoula Georgiou. Mr.00 34. Mr. Mr. Andry Tryphonos and Mr.02 1942 (3266074) 63406 31. of Ordinary Shares 999 1 1. Mr.Information Memorandum (17) Vavasa Investments Limited Vavasa Investments Limited was incorporated on June 18. Pradip Gaad.01 1942 (3063112) 39504 No.

Pradip Gaad. 1997.02 1942 (551289) 61227 (116050) ---31. Prithvi Raj Jindal.00 38.000 % of shareholding 55.40 - . It carries on activities of investments and dealing in shares and securities. Mr.00 44. Pradip Gaad.900 100 5.03 1942 (424786) 133418 126504 -126 -31. Board of directors comprises Mr.00 .000 % of shareholding 60.00 100. It carries activities of investments and dealing in shares and securities. of Ordinary Shares 3.00 Beaufield Holdings Limited was incorporated on June 30.50 100.Information Memorandum PAT/(Loss) Dividend EPS BV 129548 -130 -- (202962) ---- (497541) ---- (19) Sarmento Holdings Limited Sarmento Holdings Limited was incorporated on June 18.00 2. The company’s board of directors comprises Mr.50 0. Mr. Prithvi Raj Jindal. Tasoula Georgiou. 1997. Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Prithvi Raj Jindal Pradip Gaad International Trustees Limited Total Financial Performance The financial performance of the company (in US Dollars) is given below: No.01 1942 (435239) 172323 (10648) ---No.12. Mr. Mr.12. of Ordinary Shares 550 445 5 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 (20) Beaufield Holdings Limited 31. Andry Tryphonos and Mr. Dev Joory.12. Couldip Basanta Lala and Mr.000 1.

Prithvi Raj Jindal. Couldip Basanta Lala and Mr.03 5000 11464486 685951 673039 -135 2294 31. Mr.00 .400 100 6. Pradip Gaad and Mr.12.00 Mendeza Holdings Limited was incorporated on June 18. of Ordinary Shares 660 330 10 1. It carries on activities of investments and dealing in shares and securities.500 1.00 23. Dev Joory.000 % of shareholding 66. Tasoula Georgiou.02 6000 10751260 3783357 3590681 -598 1793 31. Mr. Board of directors comprises Mr.00 1.41 - .Information Memorandum Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS BV (21) Pentel Holding Limited 31.03 6000 11309499 569872 558239 -93 1886 31.01 6000 7160578 3014513 2569236 -428 1194 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 (22) Mendeza Holdings Limited 31. Board of directors comprises Mr. Andry Tryphonos.00 100.00 100.02 5000 10791447 3786975 3622069 -724 2159 31.12. 1997.01 5000 7169378 2997354 2615193 -523 1435 Pentel Holding Limited was incorporated on June 30.000 % of shareholding 75. Mr.00 33. It carries activities of investments and dealing in shares and securities. Mr.12.00 2.12.12. Pradip Gaad.12. Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Prithvi Raj Jindal Pradip Gaad Other – Nominee Total No. of Ordinary Shares 4. Prithvi Raj Jindal. 1997.

00 (24) Nacho Investments Limited Nacho Investments Limited was incorporated on April 18.01 1942 (543834) 184478 (13371) ---- (23) Estrela Investment Company Limited Estrela Investment Company Limited was incorporated on June 30.12.12. Andry Tryphonos.00 2.12. Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Prithvi Raj Jindal Pradip Gaad International Trustees Limited Total Financial Performance The financial performance of the company (in US Dollars) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS BV 31.12.000 1. It carries activities of investments and dealing in shares and securities. Mr.03 1942 (537985) 144577 132778 -133 -31. 1997. It carries on activities of investments and dealing in shares and securities. Mr.00 100. The company’s board of directors comprises Mr.880 120 6.42 - . Shareholding Pattern The shareholding pattern is as follows: . Prithvi Raj Jindal. Prithvi Raj Jindal.02 1942 (670762) 63359 (126928) ---31. Pradip Gaad. Tasoula Georgiou. of Ordinary Shares 4. 1997.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. Couldip Basanta Lala and Mr. Mr. Dev Joory.03 6000 11381086 600079 586976 -97 1898 31.02 6000 10794110 3795749 3630810 -605 1800 31.01 6000 7163300 3002215 2547719 -425 1195 No.000 % of shareholding 67. Pradip Gaad and Mr. Mr. Board of directors comprises Mr.00 31.12.

02 1942 (577071) 63395 (104145) ---31.00 44. Vikrant Gujral. Ltd. were transferred to and vested in the company from April 2. of Shares % of Shareholding 16256093 52. Harsh Vardhan Lodha. Anand Goel. 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. Shareholding Pattern The shareholding pattern as on 31. The company has captive iron ore and coal mines at Tensa in Orissa and Mand area in Raigarh in Chattisgarh respectively. which was converted into a public limited company ‘Orbit Strips Ltd. Ferro Chrome and Steel Products like slabs. Mr. 1998.00 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 31.03 1942 (446781) 136498 130292 -130 -31. No. Mr. 1998. Ratan Jindal. Naveen Jindal. Singh Pasrich. Gupta. The board of directors of the company comprises Mr. which is engaged in production of Sponge Iron. The company’s unit at Raipur is engaged in machining. Subir Bisht.01 1942 (472926) 163626 (17783) ---- (B) (1) Promoter Group Companies Jindal Steel & Power Limited (JSPL) The company was incorporated on September 28. Subsequently.12. Mr..Nominee Total Financial Performance No.03. Raigarh and Raipur divisions of Jindal Strips Ltd.43 - .2005 is as follows: Sr. M. on June 12. Rajendra Singh. Mr. parallel flanges and billets.000 % of shareholding 55. 1979 as Orbit Strips Pvt.00 100. the name of the company was changed to Jindal Steel & Power Ltd. Mr. Sushil K. Maroo and Mr. of Ordinary Shares 550 440 10 1.79 .12. L. It is also engaged in generation of power.00 1. blooms. Mr. The company has a unit in Raigarh.12. Mr. A 1 Category Promoter's Holding Promoters .Indian Promoters i) Corporate Bodies + Resident Indian No. Mr. 1998. Amir Z.Information Memorandum Name of Shareholder Prithvi Raj Jindal Pradip Gaad Other .’ on May 27.

00 2003-04 15.) BV (Rs. 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 7.86 60.41 0.00 180.90 1030.) 623.00 Low (Rs.40 839.16 4.00 1026.00 920. in crores) is given below: Particulars Equity Share capital Reserves and surplus (excluding revaluation reserves) Sales (including Excise duty) PAT Dividend (%) EPS (Rs.50 821.) Stock Market Data Month October 04 November 04 December 04 January 05 February.00 The market price of shares of the company (as on March 31.) 795.00 1104.63 558.109.44 - .33 18.00 860.77 1.) 796.00 628.00 Financial performance The financial performance of the company (Rs.00 1000. 05 March.90 452.49 305.00 195. 05 NSE High (Rs.43 c 4 a b c d 3795642 5592768 1420514 4546914 510135 45044 6522607 30792268 12.00 1259.00 692.08 125% 52. 2005) on BSE was Rs.46 200% 100.00 BSE High (Rs.22 107.65 1664578 132548 5.) 663.05 915. Financial Institutions. .00 1000.55 70% 38.18 100.00 851.Information Memorandum 2 B 3 a b ii) OCBs+Non Resident Indian .61 14.95 834.00 2001-02 12.00 Low (Rs.Foreign Promoters Person acting in concern Sub-Total Non-Promoters Holding Institutional Investors Mutual Funds and UTI Banks. 3215 crores.35 824.22 277 2002-03 14.79 145.18 1.00 833.00 1262.00 1103.33 654.35 964.80 1561.40 and the market capitalization was Rs. 1044.00 964.15 21.66 0.

45 1. Mr.89 2.92 . Category No. 2003. April 1. Mr.375 xiii OCBs 8. 2001 and further to Jindal Stainless Limited on January 27.f. plates and sheets.454.705 x Hexa Securities & Finance Co.55 1. The company was originally incorporated on September 29.e. Rajinder Parkash.110 vii Stainless Investments Ltd. Singhal. vide Punjab & Haryana High Court order dated May 31. Ltd. Naveen Jindal.797. 1980 as Jindal Ceramics Limited. A.780 iv Everplus Securities & Finance Ltd 1. Particulars of investor complaints during the period January to March 2005 are as follows: Opening balance: 1. Mr. Suman Jyoti Khaitan. The board of directors of the company comprises Smt. 2003.410. R.707.999.555 xii Saw Pipes Ltd.K.443.290 % of shareholding 1. The name of the company was changed to Jindal Int. 2005 is as follows: Sr. blooms.835 v Mansarover Investments Ltd.296. 2.945 viii Manjula Finances Ltd 1. Ratan Jindal. Savitri Devi Jindal (Chairperson) Mr. powers and liabilities in respect to stainless steel undertaking stood transferred to and vested in Jindal Stainless Limited w. asset.50 2.38 8. 2. Under the scheme of Arrangement and Demerger among Jindal Strips Limited and Jindal Stainless Limited. Shareholding Pattern The shareholding pattern as on March 31.800 xi Jindal Equipment Leas & Con.946.com Limited on January 25.45 - .G.46 1. Complaints Received: 50.11 5.845 ii Gagan Trading Co. Dr.710 xiv Others 5. Ser.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.22 2. Mr. Promoter’s holding 1 Promoters: Indian Promoters: I Colorado Trading Co.92 4. Ltd 2. 2.157. The average time taken by the company for redressal of complaints is up to 21 days.012. L. the stainless steel undertaking from Jindal Strips Ltd with all the property.23 8. Mathur.210 vi Nalwa Investments Ltd. Ltd.31 0.295 iii Sun Investments Ltd 9. Ltd 5. 1.Ltd 4.078.05 3. depending on the type of complaint. 3. C.615.080 ix Vrindavan Services P.315.735. Garg and Mr. rights. Resolved/Replied: 50 and pending: 1 (2) Jindal Stainless Limited The company was promoted by Mr. N. of shares held No. hot rolled and cold rolled coils.19 4. 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. 1. flat bars. Ratan Jindal./Jindal Saw Ltd. 2002 (the appointed date).

070 0.02 0. Sub-total (3) Others: Private Corporate Bodies i.423 1.909.17 20.20 269. in crores) is given below: Particulars Equity Share capital Reserves and surplus (excluding revaluation reserves) Sales (including Excise duty) PAT Dividend (%) EPS (Rs.46 - .498 520.15 60% 9.55 2.204.13 2001-02 0.) BV (Rs.57 2002-03 13.48 7.00 d.Government Institutions) i.) 77. 3 a.977.932.844 2.189.24 9.47 15.0007 (0.50 Low (Rs.223.00 High (Rs.19 100% 17.98 530.272 22.437 16.08 55.656 9.58 164.269 4. -Foreign Promoters Persons acting in concert Sub-total (A) Non-Promoters Holding Institutional Investors Mutual Funds and UTI Banks.727.909.41 51.83 391.) 76.20 2003-04 19. Latin American Investment Bank Bahamas Ltd.24 2605.30 BSE Low (Rs.38 2.93 90.19 4.10 1.0001) - .00 36.345 0.022.115 975 40.883.30 58.10 1.Information Memorandum 2 B. Institutions / Non.760 2. 4 a. Indiabulls Financial Services Ltd Ii Others (Companies) Indian Public NRIs/ NRI Companies/OCBs i.) Stock Market Data Month October 04 NSE High (Rs.) 94. Insurance Companies (Central/ State Govt.80 100.997. c. Financial performance The financial performance of the company (Rs.220.524 1.93 0. b.) 93.998. b. American Express Bank Ltd ii Life Insurance Corporation of India iii Others FIIs.891 56.80 1989.608 2.499 109. Others (FIIs) 5.697. ii Others Any other (pending allotment) Sub-total (4) Sub-total (B) Grand-total (A+B) 3.810 52.54 c. ii FID Fund Mauritius Ltd. i.500 7.01 48. Financial Institutions.

570.95 106.010.00 .P. Ltd. of Shares 10. Jindal & Sons H.55 110. Ashok Goel.70 80. The company has engaged the services of a Registrar & Transfer Agent to handle the grievances of the investors. Brahmputra Cap & Fin Ltd.20 88.000 3.000 1.318.75 90.015.000 10.25 and the market capitalization was Rs. Jindal Holdings Ltd.318. Ltd.04 0.F Master Parth Jindal R.00 80.95 106.05 80. Baltimore Trading P.660.318.00 87.00 11. Wachovia Investment P.21 7.11 5.R. P. Board of Directors includes Mr.90 111.000 22.15 87.00 78. Total Financial performance No.65 5.75 91.30 8. Gagan Trading Co Ltd.000 1.318. Sharma and Mr. The Company is engaged in the business of finance.32 2.020 % of shareholding 0.000 1. Ltd. 2005) on BSE was Rs.47 - . Mr.04 0.675. Jindal H.81 100.98.400.U.04 0.86 2.81 5.000 590. Jindal & Sons H.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. The average time taken by the company for redressal of complaints varies from 7 to 25 days. 1997.000 10.000 1.U. Resolved/Replied: 478 and Pending: 12. 1995 and became Public Company with effect from March 31.000 1.000 1.000 1.81 5.000 2.U. 1079.10 81.318.00 The market price of shares of the company (as on March 31. depending on the type of complaint.16 13.04 0. Musuko Trading P.K. Manjula Finances Ltd.000 600.33 2.00 0. Aras Overseas P.17 11. is NBFC (not accepting public deposit).86 crores.70 91.170. Investment and finance related consultancy services.000 2. (3) Manjula Finances Limited The Company was incorporated as Private Limited on February 1.000 10 10 2.U. Vrindavan Services Pvt.40 96.Information Memorandum November 04 December 04 January 05 February 05 March 05 89.90 78.F P. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Naveen Jindal H.50 91. Particulars of investor complaints during the period April 2004 to March 2005 are as follows: Complaints Received: 490.000 500. D.F O. Sunil Mittal.04 0.81 5. Kamshet Investment P. Ltd.520.000 1.000 10.40 96.81 5. Ltd.60 6. Ltd.000 10.

000 10 10 4.00 .020 % of shareholding 0.500. Ltd.40 2.770.000 486. 1997.020 Equity Shares of Rs.95 6.55) 2.000 486.Information Memorandum The financial performance of the company is given below Particulars Share capital 2.34 NIL 0.000 2. The Board of Directors comprising of Mr.590.17 FY01-02 226. 10/-each Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs.660.25 2.200 NIL 40.6 (17.000 21.858.25 2.25 100 .750.726. of Shares 10.300.000 10.500. Ltd.00 18.000 10.69 6.00 0.220.05 0.14 2.670.53 6.802.58 12.000 486.445.000 1. Total No.20 7.55) NIL (0.02 7. Musuko Trading P.71 (4) Renuka Financial Services Limited The Company was incorporated as Private Limited on February 1.750.000 1.74 8. Investment and finance related consultancy services. Vivek Goel and Mr.26.05 0.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.78) 2.000.) BV (Rs.) FY03-04 226.200 NIL 6. Parmod Garg. Ltd.73 11.509. Ltd. Ltd.19) NIL (0.U. Mr.000 486. Baltimore Trading P.75.000 2.000 10.000 1. Jindal O. Gagan Trading Co Ltd Jindal Holding Ltd.200 NIL 26.95 2. Sharma.25 2.56 FY02-03 226. Nalwa Investments Ltd.000 486. Ltd. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder P. Jindal Naveen Jindal H. Kamshet Investment P.05 0.25 2.871. P.05 0.2 (12.970.750.827.000 10.020.4 8. Aras Overseas P.620. Wachovia Investment P.05 0. D.P.000 1. 1995 and became Public Limited with effect from March 31.533. The Company is NBFC (not accepting public deposit) and engaged in the business of finance. Vrindavan Services Pvt.500.48 - .R.000 1.355.000 590.000 1.

660.40 100. 100/-each Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs.4 NIL NIL 18754323 (23.67 NIL 0.000 21.27 21.94 8.000 3.34 3.00 14.05 0.950. 1997. Ltd. Jindal H.00 .000 10.000 500.) BV (Rs.27 2.750.) FY03-04 215.000.56 7.900.00.000.F Savitri Devi Jindal Sangeeta Jindal Yogendra Kumar Garg Nirmal Singhal Stainless Investments Ltd Mansarover Investments Ltd Goswami Credits & Investment Ltd Renuka Financial Services Ltd Manjula Finances Ltd Jindal Holdings Ltd Nalwa Investments Ltd Bhramputra Cap & Finance Ltd Abhinandan Investments Ltd Vrindavan Services Pvt.90 7.000 10.000 NIL 98977652 605.200 FY02-03 215. Vivek Goel and Mr.000 Preference Shares of Rs. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Deepika Jindal P.000 10.Information Memorandum Financial performance The financial performance of the company is given below Particulars Share capital (Issued.12 NIL 5.025.754.R. Deepak Goel.05 0.000 1.000 1. The Board of Directors comprising of Mr.020 % of shareholding 0.000 1.015.000 10.F Naveen Jindal H.13 7.625.17 10.38 5.U. 1994 as Private Limited and later on became public Company with effect from March 31.588.05 0.000 NIL 161907596 102. Mr.36 (5) Ever Plus Securities & Finance Limited The Company was incorporated on November 24.000.00 0.000 1.U.170.200 FY01-02 215.32 14.900.38 14.05 0.500. subscribed & Paid-up) 21. Total Financial performance No. of Shares 10.55) NIL (1.000 710.020 Equity Shares of Rs.10) 2.200 10.05 0.000.900.924.49 - . 10/-each 1.590.000 10 10 3.02 2.000 4. Investment and finance related consultancy services.000 3. The Company is NBFC (not accepting public deposit) and engaged in the business of finance.670. Sanjay Agarwal.

Works (P) Ltd and later on the name was changed to Nalwa Engg. 4.026 (42. c. Financial performance The financial performance of the company is given below .) FY03-04 210.250.82) NIL (0. 1. 1957 as Sree Iron Foundry & Engg.Total NON PROMOTER’S HOLDING Institutional Investors Mutual Funds and UTI Banks. Institutions/Non.200 NIL 148. Foreign Institutional Investors Sub .250. b.6 FY02-03 210. The company is engaged in the Business of Cast Iron Foundry and changed the activities in heavy & Light Engg.65 NIL 5.629. jobs under S.08% 5.57% 34. a.200 NIL 12.04% - c. Mr. since December 21. Ltd. P. d.606. Promoters Holding Directors : Persons acting in concert Sub . Swami and Mr. L.200 NIL 36. b. The Board of Directors comprising of Mr.966) NIL (2. 1984 on The Calcutta Stock Exchange Association Limited and no trading has taken placed during last 6 months. R.) BV (Rs. 1984.643. Jain. a.96% 100. of Shares 100 100 % of shareholding 0. B. Co. 2. 193342 108810 16967 319119 319219 60. Gupta. Insurance Companies (Central/State Govt.577. R. Shareholding Pattern The shareholding pattern is as follows: Category A.439 108.00) (1.Govt. R.56) (6) Nalwa Engineering Company Limited The Company was incorporated on December 3.377.I.00% Shares of the Company got listed in September. M.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.04% 0.56) FY01-02 210.Total GRAND TOTAL No.323.Total Others Private Corporate Bodies Indian Public NRIs/QCBs Any other (please specify) Sub .250.16 3. 3.270 (80.01) (1.187.31% 99.S. Institution. Financial Institutions. 1983.50 - . on October 25.

000 5.05 0.61) Nil (10.000 5.22) 11.170. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Naveen Jindal H.000 496.65 2.000 496.00 8.000 2.25 7.000 496. of Shares 10. Vivek Goel and Mr. 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.27 (7) Goswamis Credits & Investments Limited The Company was incorporated as Private Limited on January 13.00 .000 496.000 500.92 4.27 FY-02-03 31.200 50.65 2.000 1.25 4.27 (Rs. Ltd. Ltd. Ltd. Total No.65 100. 2002.33 8. Deepak Goel.) BV (Rs.U.000 10 10 1.51 - . 1997.27 3.20 15.05 53.05 0.000 810.62 0.000 1.220 % of shareholding 0. Ltd.17) 11. In lacs) FY-01-02 31.Information Memorandum Particulars Share capital Reserves and surplus (excluding revaluation reserves) Sales (Including Other Income) PAT Dividend (%) EPS (Rs. Jindal Master Parth Jindal Master Abhuday Jindal Manju Bansal Renu .000 1. the Company got registered with Reserve Bank of India as Non Banking Financial Company (not accepting public deposit).05 0.427.56 (32.S. Ltd.000 496.92 13. Abhinandan Investments Ltd Nalwa Investments Ltd Bhramputra Cap.600. The Board of Directors comprises Mr.05 0.05 33.47 (54.93 3.15 2.670. Sunil Mittal.F Savitri Devi Jindal Om Parkash Jindal P.000 600.92 4.65 2.03 0.83 Nil 11.85 11.03 0.855.000 2. Kamseth Investment P.000 18. Mr.000 2.38 37. Musuko Trading P.) FY-03-04 31.82) Nil (17.722.000 590. Aras Overseas P. Ltd. Wachovia Investment P.R.92 4. Baltimore Trading P.420.000 10. On December 5.000 10. 1995 and became Public Limited with effect from March 31.000 10.35 2.500.05 28.00 0. Ltd. & Finance Ltd M\s Silver smith Gagan Trading Co.67 6.55 12.65 2.

P.f. b.871. June 5.19 1.e. a. Insurance Companies (Central/State Govt.397..222.02 --- --- c. New Delhi w.200 NIL 11. Jindal. w.73) NIL (0. 4. Sminu Jindal.07 53.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.79) 1.750 --98.789. Foreign Institutional Investors Sub .Total NON PROMOTER’S HOLDING Institutional Investors Mutual Funds and UTI Banks. Promoters: .00 The Company’s Equity Shares are listed on The Delhi Stock Exchange Association Ltd. Institutions/NonGovt.98 100.134.377.85) 2.57) NIL (0. Institution.11. 1992.Total Others Private Corporate Bodies Indian Public NRIs / QCBs Any other (please specify) Sub .30 FY01-02 187. b. Sandip Sharma and Mr. there has not been any trading in the shares for the last several years.) (8) FY03-04 187.362. c.600 -96. Financial Institutions. 3.626. PROMOTERS HOLDING 1. Sub . Goel.103.) BV (Rs.92 FY02-03 187.10.05) NIL (0.222. The Board of Directors comprises Mr. 1979 as Nalwa Steels Ltd. June 28. the manufacturing activities were disposed off under the provisions of Section 293(1)(a) of the Companies Act. --94. of shares % of shareholding 14.7 (16. Ms. As the paid-up capital of the Company is only Rs.222.005. 21 lakhs. a. d. Shareholding Pattern The shareholding pattern is as follows: CATEGORY A. D.962.904.f.200 NIL 3.430 (7.e.900 3.Foreign Promoters 2.Total GRAND TOTAL No.750 1. 1984.650 2. Persons acting in concert B.Indian Promoters . Hot and Cold Rolling Mills. Mr.52 - .95 -46.79 --46. The name of the Company was later changed to Jindal Seamless Tubes Ltd. . 1956 and since then there is no manufacturing activity in the Company. K. It was incorporated for carrying on the business of continuous cast.350 6.38) 0.000 --45.08 (excluding Jindal Seamless Tubes Limited The Company was incorporated on April 12.200 NIL 2.3 (14. R. In the year 1996.

of Shares 30 60 2.000 Nil 1. In lacs) FY01-02 21.130 159.04 (15. 1971 and became Public limited with effect from July 30.) BV (Rs. The Board of directors of the company comprises of Mr.85 (297.64) 162.60) Nil (7.98 9.R.37) The Company was incorporated as Private Limited on June 16.400 24.9) FY02-03 2.52) FY01-02 2. S.79 (23. Jindal (till March 31.78) (136.125.93) (118.12 0. Jindal Colorado Trading Co.) BV (Rs.050 % of shareholding 0.53 - .370 10 3. The Company is engaged in the property business.400 5.760 (1.250 1.100 2.41) Nil (175.405.971.98 21.85 (258.80) 13.08 (204.36 (197.22 (384.000 Nil 1.400 130.005. O.885. Saxena.400 2.18 NIL 10.57 9.) FY03-04 2.29) FY02-03 21.78) (209. 1986.400 2.) (9) Rohit Tower Building Limited FY03-04 21.229.85 (274.000 Nil 1.51 4.Information Memorandum Financial performance The financial performance of the company is given below Particulars Share capital Reserves and surplus (excluding revaluation reserves) Income PAT Dividend (%) EPS (Rs. Ltd Nalwa Investments Ltd Swastik Udyog Ltd. S.00 . P. Smt. P. Ltd Gagan Trading Co.14) (125.230 2. Savitri Devi Jindal and Mr.360.98 100.75 9.98 9.405.40) NIL (46.Jindal Jindal Strips Ltd Total Financial performance The financial performance of the company is given below Particulars Share capital (Equity Shares of Rs. 100/each) Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs.51) (Rs.98 9.96) No. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Savitri Jindal O.56) Nil (10.922.04 13.25 9.400 2.85 0.24) 5.15 NIL 16./ Jindal Saw Ltd Naveen Jindal Abhinandan Investments Ltd Ratan Jindal Stainless Investments Ltd P. 2005).405.

Nandgaon Road.023. Distt. 2002. 1995. Rajesh Aggarwal.P. It was converted into Public Limited Company on December 3.000 19.81) 295. Sharma and Mr.17 1.76) FY02-03 2.550.859. 1994. Ranjit Malik and Mr.86) (11) Brahmputra Capital And Financial Services Limited The Company was incorporated on June 14. The Board of Directors of the Company comprises Mr. Aggarwal.00 (2.83 Nil 1.17 1.000 520.26) 74. Mr.66 163.17 1. R.550.) BV (Rs. Area. 1934.25 (11.Bansal Nominee of Jindal Strips Ltd Total No. The company is Non-Banking Financial Company (not accepted Public deposits) registered under Section 45-IA of the Reserve Bank of India Act.00 (2. The Board of directors of the company comprises Mr.K. Parmod Garg.00 (3.00023 49.) FY03-04 2.590.800 500. 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.21) (Rs.000 500.45 (9.00 .550.98) 509. The Company was incorporated as Private Limited and became Public Limited with effect from May 4.) – 281 403. Ltd. 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.58 Nil 0.869. 1994 as Hexa Securities & Finance Co.15 370. P.00023 100. Mathura (U. Arvind Kiran Aggarwal.000 % of shareholding 0.000 100 42.00 1.17 45. Shareholding Pattern The Company is 100% subsidiary of Jindal Saw Ltd.000 500. D.22 1.45 Nil 0. Mr.Information Memorandum (10) Hexa Securities & Finance Company Limited This Company was incorporated on November 23.488.000 500. In lacs) FY01-02 2.200. The Company is NBFC and holds investment in other Companies. Kosi Kalan. UPSIDC Indl.54 - . having its registered office at A-1.08 0. K.64 (11.16 63. Pvt. of Shares 100 20.

1956 under the name of Navin Sponge Iron Pvt. Ltd. The Board of directors of the company comprises Mr.201.each Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs.09) Nil (109.000 Nil 118.) (12) surplus (excluding revaluation FY03-04 425. Investment and finance related consultancy services. 1989 under the Companies Act.00.10 19.79 Nil 2059.500) 7%Redeemable Cumulative Preference Shares of Rs.721.468 Gagan Sponge Iron Private Limited The Company was incorporated on February 24.43) Nil (0.667.316.10/-each 1.150.115. R.900.0037) 9.350) Nil (0.0066) 9.000 Equity Shares of Rs.90 100.869 (279. 2004 the name of the said company was changed to Gagan Sponge Iron Private Ltd.900.) BV (Rs. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Naveen Jindal P.990 10.000 83. The Company is engaged in the business of finance.097.70 21.36 1918 FY02-03 100.380 (156.000 (831.79) (102) FY01-02 1.) BV (Rs.000 Nil 15.296 (30. K. Saraf and Mr.259 20. of Shares 8.946.00 (13) Opellina Finance & Investment Pvt.Information Memorandum Financial performance The financial performance of the company is given below Particulars Share capital Reserves and reserves) Sales PAT Dividend (%) EPS (Rs.4 FY01-02 425. On January 13.000 Nil Nil Nil Nil Nil Nil 7. .450.900.717.164 (1.000 Nil 36.00 No.000 19.000 Nil 188.00071) 9.000 10 1.000 145.399) Nil (0.000.) FY03-04 100. Ltd.103.R Jindal Shallu Jindal Total Financial performance The financial performance of the company is given below Particulars Share capital 10. Raj Kumar Nahata.464 FY02-03 425.000 % of shareholding 80.55 - . 100/.00 0.

000 2.00 100.000 % of shareholding 80. Ltd.000 10.00 The Company was incorporated on December 9.144. Ltd. 1998.000 119. 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 10.00 100. TOTAL No. Ltd. 1994 as a private limited company and converted into a public limited company “Baltimore Trading Ltd.598 21.) BV (Rs.98 16. of Shares 8.10/-each 19.000 19. Ltd.00 20. V.4) (69. Starlight Equifin Pvt.13 0.98 0. It is mainly in the business of investments and trading in securities.000 950 900 2 704.each Reserves and surplus (excluding revaluation reserves) Sales PAT Dividend (%) EPS (Rs.92 28. Gagan Trading Co.000 Equity Shares of Rs.26. Surendranath and Mr.00 .” with effect from March 23.110.646 (1. Deepak Bhat. Gati Securities Pvt. of Shares 260. The Company’s board of directors comprises Mr.2) FY03-04 FY02-03 FY01-02 No.050 1.Information Memorandum The Company was incorporated on March 20. 100/.15 0. Jindal Holdings Ltd.41. Wavelength Capital & Finance Pvt.000 Nil Nil Nil (264.098) Nil (26. 2002. Naman Enterprises Pvt. Anand Goel.13 0.475 20.600 1.348 Nil 2.670. Welworth Equifin Pvt.14 0.600 119.452.000 192.) (14) Baltimore Trading Private Limited 100.100) 0% Cumulative Redeemable Preference Shares of Rs.217. Animation Finvest Pvt.000 200. R.000 74. Ltd. Ltd.693) Nil (114) (178) 1. Ltd.40 16.100 1. K. Ltd.065 1892.00. Saraf and Mr. The Board of directors of the company comprises Mr.700 (7. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Vrindavan Services Pvt.202 % of shareholding 36. Investment and finance related consultancy services. Jindal Equipment & Leasing Consultancy Services Ltd.651.5 100.56 - .16 0.000 Nil 219. 1995 and is engaged in the business of finance. The Company was reconverted into a private limited company on July 26.

P.60) (0. Mr. The Board of directors comprises Mr. in lacs) is given below : Particulars Equity Share Capital (Shares of Rs.005 (0.31) (0.60 (934. Jindal Holdings Ltd. Vijay Maniar Total No. Apurva Jhalani.20 (482.100 each) Reserve and surplus Excluding revaluation reserve Income PAT Dividend EPS (Rs. Jindal Equipment & Leasing Consultancy Services Ltd.76) (15. Surendranath and Mr.33) (0.02) 31. 1994 as a private limited company and converted into a public limited company “Kamshet Investments Ltd.” with effect from March 23.60 (933. Shareholding Pattern The shareholding pattern is as follows: Shareholder Vrindavan Services Pvt. Mr. Ltd.00 (0.57 - .) FY 04 704. 1998. The company was reconverted into a private limited company on July 26.17) (0.Information Memorandum Financial Information The financial performance of the company (Rs. V. Kole and Mr.25) (0.300 21.47 FY 02 704.04) (15.000 32.24) (47.43 FY 03 704.30) (0.P. 2002.29) (0. Atul Sud Mr. Gagan Trading Co. 1994 as a private limited company and converted into a public limited company “Aras Overseas Ltd. The company is in the business of investments and trading in securities. The company was reconverted into a private limited company on August 9.603 100 Financial Information The financial performance of the company (Rs. Garg.) BV (Rs. Mr. 2002. .20 (482.20 (482.42) 20.89 173.00 1 0.58) 0.23 225.03) 31.” with effect from March 23. This company is in the business of investing and trading in securities.79) (16) Aras Overseas Private Limited The company was incorporated on September 7. Ltd. R.87) 2001-02 806.04) 31. 100 each) Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS Rs BV Rs 2003-04 806.83) 2002-03 806.000 27. Rajeev Pai. 1998.39 2 0.300 18. The Board of directors comprises Mr.60 (934.00 806. in lacs) is given below: Particulars Equity Share Capital (shares of Rs.49 (15) Kamshet Investments Private Limited It was incorporated on November 16.88) (0. of shares % of shareholding 260.99) (385. Dileep Bhatt.04) (15.49 148. V.

16 100. Ltd. Starlight Equifin Pvt. Ltd.020 621.000 102.” with effect from March 23.440 1.00 . The company was reconverted into a private limited company on August 9. Ltd.63) (0. Ltd. 2002. P. 1998.07) 44.Information Memorandum Shareholding Pattern The shareholding pattern is as follows: Shareholder Vrindavan Services Pvt.200 1. Jindal Equipment Leasing & Consultancy Services Ltd.21 0.65 16. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.46 12.21 0.79) (0. Deepak Bhat. Rajeev Pai. Ltd. Jindal Equipment Leasing Consultancy Services Ltd. Ltd.00 (17) Wachovia Investments Private Limited This company was incorporated on November 16. Ltd.000 175.17 0. No.320 1.505 1.00 (351.98 13.012 % of shareholding 28. Ltd.505 96.23 0.07 27.002 77.58 - .41 16.002 % of shareholding 41.600 1. Shareholding Pattern The shareholding pattern is as follows: Shareholder Gagan Trading Co. R.500 82.44 FY 03 633.) BV (Rs. Jindal Holdings Ltd. Ltd. Gagan Trading Co. Animation Finvest Pvt. Gati Securities Pvt. 100 each) Reserve and surplus Excluding revaluation reserve Income PAT Dividend EPS (Rs. Its board of directors comprises Mr.) FY 04 633.18 26.48 FY 02 633. Ltd. Ltd.22 0.00 (350.500 1.10) 44.29 0.58 No.48 0. Ltd. Ltd. Jindal Holdings Ltd. Welworth Equifin Pvt. 1994 as a private limited company and converted into a public limited company “Wachovia Investments Ltd. Ltd. It is mainly in the business of investments and trading in securities.28 0. Welworth Equifin Pvt.000 107. Vrindavan Services Pvt. Total Financial Performance The financial performance of the company (Rs.080 1.04) 44.360 2 633. Wavelength Capital & Finance Pvt.00 (351.000 164.03 0. Kole and Mr.00 100. Starlight Equifin Pvt. Naman Enterprises Pvt.25 0. Ltd.380 1. Animation Finvest Pvt.005 (0. Ltd.27) (0. Naman Enterprises Pvt.840 1.41) 0.68) (0.760 1.45) (0. of shares 260. Wavelength Capital & Finance Pvt. of shares 175. Mr. Gati Securities Pvt.51 15.19 0.

Ltd.000 10 10 27. Meredith Traders Pvt.08) (22.70 (2.00 (19) Musuko Trading Private Limited (MTPL) MTPL was incorporated on November 14. Sandip Sharma Mr.77) (0.51) (126.04 100.50 18. Mr.70 3. The company was reconverted into a private limited company on August 26.01 (759.N.000 1.22) 2001-02 621. S. 1998.” with effect from March 23. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs. Ltd. P.71) (20. Rishikesh Finlease & Investments Pvt.12) (0.R. Ltd.32) 0.51) (2.000 5. Devender Singhal Mr.100 each) Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.) BV (Rs. Mr. Vrindavan Services Pvt.Information Memorandum Financial Performance The financial performance of the company (Rs. This company is in the business of real estate development. Rajiv Khaitan Mrs.) FY 04 2. Sriram. Ltd.50 18.01 (758.79) 26.000 1. Rashmi Khaitan Financial performance The financial performance of the company (Rs. Dileep Bhatt.50 18. Company’s board comprises Mr. 1994 as a private limited company and converted into a public limited company “Musuko Trading Ltd.000 5.46) 0.52) (9.14) (18) Argil Properties Private Limited (APPL) APPL was incorporated on July 6. P.) BV (Rs.S.000 5.70 (2.020 % of shareholding 18. of Shares 5.64 FY 02 2. Shareholding Pattern The shareholding pattern is as follows: Shareholder Reynold Traders Pvt.70 0.99) 2002-03 621. Ltd.40) (22.84 (4. The company is mainly in the business of investments and trading in securities.26) 9. Gagan Trading Co.000 5.51) (0. P. Chari and Mr. The board of directors comprises Mr.) 2003-04 621.02) (0. 1994 as a private limited company.59 - .04 0.07) (0.70 0. Kole and Mr.77) (22. M. K.64 FY 03 2.01 (763.90 No.63) (0.50 3. Krishne Gowda.01 (0. . in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.50 18. 2002.

00) (0.440 2 769.100 each) Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs. Ltd.45 (505.36 2001-02 769. Animation Finvest Pvt.27 0. 1985.000 225. Wavelength Capital & Finance Pvt. K.) BV (Rs.00 (20) Nalwa Chrome Private Limited This Company was incorporated on September 2. Sanjay Agarwal. Its board of directors comprises Mr. Vrindavan Services Pvt.225 125.00 FY 02 0.79 29.) 2003-04 769. Ltd.10 0.06) 9.620 1.22 0. It has made strategic investment in the shares of South West Port Limited.08 (0. Shyamlal Agarwal Total Financial Performance The financial performance of the company (Rs.60 - .11) (0. Mr.990 10 10 10. Ltd. Gagan Trading Co. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs. of Shares 260.16) 0.21 0. Ltd.24 19.95 1.33 No. Welworth Equifin Pvt.45 (505.10 100. Starlight Equifin Pvt.00 (0. of shares 4.28 0. Sushil Buwalka Mr. Ltd.003 No.N. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) FY 04 1. I Qureshi.S.52 16. Ltd.45 (513.070 1.39) (0.990 4.03 7.19 0.Information Memorandum Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Vrindavan Services Pvt.00 .00 100.225 2. Ltd. Ltd.09) FY 03 1. Naman Enterprises Pvt.000 150.452 % of shareholding 33.160 2. Jindal Equipment & Leasing Consultancy Services Ltd. Total Financial Performance The financial performance of the company (Rs. Ltd.05) 33.90 49. Ltd.27 0. Shareholding Pattern The shareholding pattern is as follows: Shareholder Sun Investments Pvt. Gati Securities Pvt.01) 34.000 % of shareholding 49. Mr.710 1.35 2002-03 769.03 34.90 0. Sriram and Mr. Jindal Holdings Ltd.

Kole and Mr.09) (0. Sajjan Jindal Mr.02 0. R. Ltd Gagan Trading Co. Shareholding Pattern The shareholding pattern is as follows: . Mr. Mr.) BV (Rs. R.00 (0. Mr.40) NA NA NA NA 9. Jindal.20) (0. Bhalerao. 1985 as a public limited company.94 49.38) NA NA NA NA (530.02 0. P. Expenditure not written off/Preoperative Expenses Income PAT Dividend EPS (Rs.02 49. Jindal Mr. Jayaraman.P. Dileep Bhatt.007 (0.10 (0.) (0. Sangita Jindal Mrs.) (22) Kavita Securities Private Limited FY 04 5.00 (0.43) NA NA NA NA 9. Asha Agarwal Sun Investments Pvt.960 50. Sushil Bhuwalka Mr.02 0.) BV (Rs. This company is mainly in the business of investments and trading in securities. D.13 FY 03 5.19 FY 02 0. Urmila Bhuwalka Mrs.00 The company was incorporated on February 28. P.02 0.970 24. Shareholding Pattern The shareholding pattern is as follows: Shareholder Mr.95) 7. 1995. V. The company’s board of directors comprises Mr.92 100. Surendranath and Mr. The company has not yet commenced commercial activity. Anilkumar Agarwal.24) 7.R.Information Memorandum Misc.60 (0. Ltd Total Financial Performance The financial performance of the company (Rs.53) No.22) (719. of shares 10 10 10 10 10 10 10 24. The board of directors of the company comprises Mr. O.02 0.000 % of shareholding 0.02 0. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.13) (21) Maharashtra Sponge Iron Limited Maharashtra Sponge Iron Limited was incorporated on September 2.61 - . expenditure not written off /Preoperative expenses Income PAT Dividend EPS (Rs. Shyamlal Agarwal Mrs. 10 each) Reserve & surplus Excluding revaluation reserve Misc. R.

100 each) Reserve and surplus Excluding revaluation reserve Income PAT Dividend EPS (Rs.76) (8. Wavelength Capital & Finance Pvt.93) (0. of shares 1 1 2 % of shareholding 50.98 17. Surendranath.64) (5335) (23) Laptev Finance Private Limited Laptev Finance Private Limited was incorporated on February 6. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.00 100. Starlight Equifin Pvt.98 22.Information Memorandum Shareholder Naman Enterprises Pvt. 1995. Gati Securities Pvt.14) (7157.00) (5461814) 2001-02 0.98 15. Ltd.10 21.00 (109.16) (7.00 (24) Sapphire Technologies Limited .84) (5342) 2001-02 2. Total Financial Performance The financial performance of the company (Rs.62 - .) BV (Rs.) BV (Rs. of shares 2 440 320 360 420 460 2002 % of shareholding 0.50) (5452869) No. It is mainly in the business of Investments and Trading in securities. Ltd. Animation Finvest Pvt.00 (108.03) (8.) 2003-04 0.00 50. Ltd. V.19) (9770. Ltd.002 (109. The board of directors comprises Mr.Ltd.00 The financial performance of the company (Rs. Apurva Jhalani.14) (7.36) (0.98 100.07) (0. Silky Investments Pvt.) 2003-04 2. Shareholding Pattern The shareholding pattern is as follows: Shareholder Gauri Investments Pvt. P. Ltd. Ltd. Total Financial Performance No. 100 each) Reserve and surplus Excluding revaluation reserve Income PAT Dividend EPS (Rs. Welworth Equifin Pvt.12) (405937.50) (5468146) 2002-03 0.01) (5348) 2002-03 2. Ltd.00 (108. Kole and Mr.22) (0.R.002 (109. Mr.12) (405. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.98 20.002 (109.

07 (8. N. K.02 0. P.15) (0.31 (8. Its board of directors comprises Mr.25. Ltd.08 0. Kole and Mr. Manish Shah P. Ltd. Gati Securities Pvt.63 - . Shareholding Pattern The shareholding pattern is as follows: Shareholder Reynold Traders Pvt.R.) BV (Rs. Starlight Equifin Pvt. of shares 1. Purohit Total No.S. Sriram K.99 0.00 . Kantilal Narandas Patel Mr.30) FY 02 25.86 0.000 1. Raman Madhok Mr. of shares 1. Ltd. K.100 1. Ltd.07 (21. Animation Finvest Pvt. It is mainly in the business of investments and trading in securities. 2000 as a public limited company to carry on the business of software development.04 0.70) 20.83 1.00 Rishikesh Finlease & Investments Private Limited Rishikesh Finlease & Investments Private Limited was incorporated on August 12.50. Ltd. Jain.com” through which it conducts auctions for facilitating sale of steel products. Ltd.000 200 100 100 100 100 100 2.70) (3.150 900 1. Mr. Nirmal Kumar Jain Total Financial Performance The financial performance of the company (Rs.61) 14.99 21.02 100. Nowal and Mr. Jayant Acharya Mr. Mr. Gagan Trading Company Ltd. Shareholding Pattern The shareholding pattern is as follows: Shareholder Welworth Equifin Pvt. V.60) 121.44 FY 03 25. K.04 0. Shireesh Wagh Mr. Wavelength Capital & Finance Pvt.N.81 (12.04 100. Patel. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs. 1994. The Company has developed a portal “Steelemart.95) No.050 800 1 1 5. to act as consultants and advisors on information system etc.93 4. Its board of directors comprises Mr.29 4.99 17. Ltd. Raman Madhok. Dr.86 49.002 % of shareholding 22.04 0.700 % of shareholding 49.47) (2.S.99 15. N.04 0.90) (5.25.Information Memorandum This Company was incorporated on October 5.) (25) FY 04 25. Vrindavan Services Pvt.07 (12.99 20.

37) (87.00 50.100 each) Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.03) (0.000 each.00 (873. Rishikesh Finlease & Investments Pvt.N. The company’s board of directors comprises Mr. Total Financial performance The financial performance of the company (Rs.57) (934.02) FY 03 5.22) (847.63) No.000 25.00 Jindal Technologies & Management Services Private Limited (JTMSPL) JTMSPL was incorporated on December 3.56) (11.) (27) FY 04 5. K.79) (0. the company is in the business of property development.50 (4.) BV (Rs. Rajeev Pai and Mr.45) FY 02 5.18 (0. Ltd.00 100.01) 1. Apurva Jhalani.K. Deepak Bhat. Mr.00 (862. 1994 as a private limited company. Board of directors comprises Dr.95 1.00 (51.00 (51.38) (13.) BV (Rs.95) FY 03 5. Shareholding Pattern The shareholding pattern is as follows: Shareholder Reynold Traders Pvt.27 0.18) (26) Naman Enterprises Private Limited Incorporated on April 19.64 - . the number of shares being 5. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.19) (0. Nowal. Mr.37) (0.32) (934. Its shares are held by Vrindavan Services Private Limited and Sun Investment Private Limited equally. (28) Jindal Coated Steel Private Limited . V. Mr.00 (47.96) 2700. Ltd.74) 1.91 (1736.00 (11. of shares 25. V Surendranath and Mr.35) (1737.95) FY 02 5.77) 0.17) (1724.00 (873. 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. 2003 to carry on the business of Management & Engineering Consultancy Services. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.) FY 04 5.000 % of shareholding 50.Information Memorandum Financial Performance The financial performance of the company (Rs. Bavneesh Gulati.000 50. Patel.

Shareholding Pattern The shareholding pattern is as follows: Shareholder Reynold Traders Private Limited Tranquil Homes & Holdings Pvt.” on August 6.49) (0.09) (0.53 (2.000. 1998.42) 0. The company’s board of directors comprises Mr.00 0.000. However the project was shelved due to uncertain outlook in the steel market. Ltd. Nowal.” with effect from February 23.05) 5. of shares 11. The company had commenced a project for setting up an organic coated steel plant. Raman Madhok and Dr. Presently the company is in the process of diversifying into other business activities.00 1. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Miscellaneous Expenditure not written off FY 04 1.99) 16.65 - .00 . Garg Girish Ghate Total Financial performance The financial performance of the company (Rs. V. K.900 4. of shares 4.92 (29. Sriram K S N.00 1.00 100. 2001 and the company was reconverted into a private limited company with effect from July 26.53 FY 03 1. R.00 (1039. in lacs) is given below: Particulars Equity Share Capital Reserve & surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.83) 8. 1996 and was converted into a public limited company “JBS Steel Products Ltd.92) 0.000 % of shareholding 49.22 FY 02 2200.00 50. Garg. Jain. D. Total Financial performance The financial performance of the company (Rs.) FY 04 2200.” on December 12.000 22.00 (1053.00 (29) Dhaman Khol Engineering & Construction Co. Private Limited Incorporated on January 12. 1996 as a private limited company. V.02 (0.81 (11. Mr.21 FY 03 2200.Information Memorandum The company was incorporated as a private limited company “JBS Steel Products Pvt.900 100 100 10.000 % of shareholding 50. P. The Company is in the business of trading in steels and also has made strategic investment in South West Port Ltd. The company’s Board of Directors comprises Mr.00 100.27 No. N.000 11.66) No. Ltd. The name of the company was changed to “Jindal Coated Steel Ltd.63 0.60 FY 02 0. 2002.85) (0.00 49.00 (1051. Shareholding Pattern The shareholding pattern is as follows: Shareholder Jindal South West Holdings Limited Sun Investments Pvt.13) 5.009) 5.28) (0. Limited V. P. K.00 (0. Bhalerao and Mr.) BV (Rs. Mr.000.

05 10. JTPCL has set up a 2X130 MW thermal power plant.499. R.96 12.T. District Bellary. Sajjan Jindal Mr.43 195. JTPCL consumes about 20 MW as auxiliary consumption and supplies about 140 MW of power to JVSL and about 100 MW to KPTCL. of Shares 100 100 100 100 100 144.77 20.74 13. Prithvi Raj Jindal Mr.56 1.35% 10.11 1.00% 0.00% Chairman Vice Chairman Joint Managing Director & CEO Director Finance Director Director Nominee of ICICI Nominee of IDBI . Raman Madhok Mr.40) (0. Raaj Kumar Mr.56 6.) BV (Rs. Jain Mr. P.685.00 100.) FY 04 289.000 289. The plant has been operating since January 2000 at PLF of over 95%.13) (0.) (30) Jindal Thermal Power Company Limited 430.55 21.33 (0.00 295.46 0. Limited Vrindavan Services Pvt.) BV (Rs. K.000.35) (459.47 FY 02 289. N.66 - .00% 50. Ratan Jindal Jindal Vijayanagar Steel Limited Gagan Trading Company Limited Sun Investments Pvt. Karnataka. 1994.400 12. The Board of Directors comprises: Mr.27% 100. Abraham Mr.20 56.48 (11. Jayaraman Iyer Shareholding Pattern Shareholding Pattern is as follows: Shareholder Jindal Strips Limited Jindal South West Holdings Limited Mr.160.K.88 278.00% 0.00% 0.000 29.00% 4.655. Balaji Swaminathan Mr. in crores) is given below: Particulars Equity Share Capital Reserve & surplus Excluding revaluation reserve Operating Income PAT Dividend EPS (Rs.31 234. Limited Total Financial Performance The financial performance of the company (Rs.24 FY 03 289. It is engaged in the business of power generation.100 102.Information Memorandum Income PAT Dividend EPS (Rs.03)(15.14) (1. Krishna Deshika Mr.90) JTPCL was incorporated on March 10.00 79.000 % of Shareholding 0.00% 0. Sajjan Jindal Mr.00 231.38% 35.01) 41.73 No. in Toranagallu village.

) (32) FY 04 Rs. Upinder Singh Mr.43% 5. 78.67 - . J.400 26. JVSL's plant located at Toranagallu. JPL is promoted by Jindal Thermal Power Company Limited and the other Companies of the Groups.00% 0.26% 3. JPL is setting up two power plants with the capacity of 100 MW each. has a production capacity of 2. 1956.000.00% 0. 6. of shares 5000 55.07% 0.3. Company’s board of directors comprise of the following directors: Mr. The scheduled time for commissioning of Unit I is April 2005 and for Unit II is October 2005. 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.000 200.000 2. which uses COREX technology from Voest – Alpine. Spread over 3500 acres of land. Austria is the first plant to . Jain Mr.700 100 100 100 33.739.600 4.79% 100.93% 34. The company is also now setting up of two 30 MW power plant in SISCOL premises. The plant. It has been promoted by JISCO and its associated companies and Karnataka State Industrial Investment Development Corporation Limited (KSIIDC).50% 0.K.640.000 10.T.01% 0.00% 43. 1994.2 crores (as on 3.000 78.959.00% 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. N. K. Bellary District.05) NIL Commercial Operation yet to begin Commercial Operation yet to begin Nil Commercial Operation yet to begin Rs. Sanjay Sagar Mr.) BV (Rs.600.86 No.5 mtpa of HR coils with an investment of around Rs. 2003 under the Companies Act. K. which will be captive to Jindal Vijayanagar Steel Limited (JVSL).200.000 % of shareholding 0. 9. namely: Unit I and II. Krishna Deshika Mr.500 Cr. Raaj Kumar Mr.02% 12.Information Memorandum (31) JSW Power Limited (JPL) JPL was incorporated on January 3.

of Shares held % Shareholdings 55154742 5704612 0 60859354 42.98 195.Foreign Promoter's Persons acting in Concert Sub .82% 0.53% 0.97 7035. Financial Performance The financial performance of the company (Rs.49 528.04 (110.) 2004-05 469.Total Others Private Corporate Bodies Indian Public NRIs/OCBs Any Other(Please Specify) Trust Huf Sub .72% 6. Insurance Companies (Centeral/State Govt.68 - .59% 100.28 2002-03 1352.00% Stock Market Data .Total Grand Total No.67) Nil (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.92 6.08 Nil 3590. Finacial Institutios.12% 30. JVSL manufactures high quality Hot Rolled Coils.90 870.03% 22.83% 1.68 Nil 3.30 2003-04 1631.13 2329.Total Non-Promoter's Holding Institutional Investors Mutual Funds and UTI Banks.Indian Promoter's .37% 16. Plates and Sheets and is the only flat Steel Producer in South India.16% 3105142 2. JVSL was set-up as a backward integration facility for production of hot rolled coils for JISCO.74% 4.25% 3.03 Nil 2786.41% C 4 A B C D 28028571 7901485 39035198 4346484 21715128 2354540 684458 43980 29144590 129039142 21.Institutions /Non-Government Institutions) FIIs Sub . in crores) is given below: Particulars Share capital Reserves and surplus (excluding revaluation reserves) Sales (including Excise duty) PAT Dividend (%) EPS (Rs.) # BV (Rs.42% 0. Shareholding pattern as follows: - Category A Promoter's holding Promoter's * 1 2 B 3 A B .86) 1.11 80% 64.Information Memorandum use oxygen-based Iron and Steel making in the country with continuous casting and hot strip mill.00% 47.

2000.90 14. N. Savitri Devi Jindal Mr.90 14.70 22. 2005) on BSE was Rs. 35 crores. Raman Madhok Mr.N.80 18. Roy Mr.03. 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.M. IAS Mr.) Low (Rs.95 18.2005.Information Memorandum Month/Year March/2005 Februvary/2005 January/2005 December/2004 November/2004 October/2004 BSE High (Rs. JVSL as a consolidated entity has acquired significant strength with strong financials.40 356. Ramaswamy P.) 457. Through a scheme of Arrangement and Amalgamation between JISCO. The company was incorporated on June 10.40 11.00 18. 2003. S. 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.00 14. Sajjan Jindal Dr. 1993 in the name of Kay Kay Cold Storage Private Limited.2004 to 31.20 15. Aiyar (33) Jindal Steel & Alloys Limited Chairperson Vice Chairman & Managing Director Jt. Board of Directors details as follows .N.67 12. David Chandrasekaran Mr.75 12.79 12.25 15.) Low (Rs.65 13.10 NSE High (Rs.50 356. B.049.80 18. Balaji Swaminathan Mr. depending on the type of complaint. The said scheme has been sanctioned by the Hon’ble High Court of Mumbai and Karnataka and has since become effective from 4th February.00 13. facilitating for organic and inorganic growth. Singh Mr. 5127 complaints have been resolved and 154 complaints are pending. 5. 2000 (appointed date) on a going concern basis for a consideration of Rs.69 - .40 11.I. The scheme has been made effective on October 3. Gokul Ram. JSWHL and JVSL (“scheme”). The Board of Directors of the merged entity comprises: Smt.35 The market price of shares of JVSL (as on April 4. The average time taken by the company for redressal of complaints varies from 7 to 15 days.65 22. 391.K. R. Managing Director & CEO Jt.00 11. the steel business of JISCO has been merged with that of JVSL from the Appointed Date 1st April. Seshagiri Rao M.99 11.10. 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.) 458. Vittala Murthy. Gupta Mr. Out of 5255 complaints (related to shareholders) received during the period 01. Pursuant to scheme of arrangement sanctioned by High Court of Punjab & Haryana.S Dr.30 and the market capitalization was Rs. 2005.30 crores. The company has its investor service center at Mumbai and has engaged the services of a Registrar & Transfer Agents to handle investor grievances. Anthony Paul Pedder Dr.V. After the merger. IAS Mr. The name of the company was changed to Jindal Steel and Alloys Limited.

Mr. Jindal Mr. N.0014 100 0.00 53. of Shares % of shareholding 4000 40.00 3075.82 FY02-03 702.49 1. metals. It is in the business of mining and extraction of minerals. P. Jija Madhavan Hari Singh. Om Prakash Agarwal Shareholding Pattern is as follows: Shareholders Jindal Strips Limited Mr.) BV (Rs.00 2951. K.77 52. Shareholding Pattern The shareholding pattern is as follows: Shareholders Jindal Vijayanagar Steel Limited Mysore Minerals Limited Gagan Trading Company Limited Sun Investments Pvt. K. Patel Mr. Yogendra Tripathi. Raman Madhok Mr. Sushil Bansal Mr. P. Krishne Gowda. U. Ratan Jindal Mr. Subhash Sharma Mr. V.0014 100 0.9786 500 0. Patel Mr. K.0014 7020000 100. ores etc. of shares % of shareholding 70.56 52. Gupta. Mr. Jain Mr.70 - . N. Singh. Limited Total Financial performance No.0071 500 0.83 9808. N. Vinod K. M.00 1500 15.28 70.27 0.34 17005. Dr.0014 100 0. Singh.78 1. Ram Chandra Sharma Dr.0014 100 0. Rajeev Pai Total Financial Performance: Designation Managing Director Director Director Director Director Director Director Director No.24 54.68 109.18. A. Venkateshan and Mr. Mr. Nowal Mr. P.00 3005. The board of directors comprises Dr.00 10000 100.Information Memorandum Name Mr. Kole Mr. Rajeev Pai Mr. in lacs) is given below: Particulars Share capital Reserves and surplus (excluding revaluation reserves) Sales (Net of Excise) PAT Dividend (%) EPS (Rs. 1997. Smt. K. N. Anil Sood. Mr. S.0000 The financial performance of the company (Rs. B. Mr.00 1500 15. Raman Madhok.00 3000 30. R.00 .80 FY01-02 702.02 The company was incorporated on June 17.) (34) Vijayanagar Minerals Private Limited (VMPL) FY03-04 702.06 21569.0071 100 0.500 99. O.

74 (61. T.01 3. of Shares 3. 1995. Steel Melting Shop in January 1999.39. Shanmugasundaram. V. Jain. N.16) 2.50. Kamal Kishore Gupta and Mr. Vijay Sharma. Mr.42. K.71. Sajjan Jindal) (b) TIDCO Sub Total (a)+(b) Other Shareholders Mutual Funds and UTI Banks.976 29. Bars and Rods at its integrated steel plant located at Pottaneri/M. Kalipatti villages. Lakshmi Machine Works Ltd.88 166. and is referred to BIFR.92 50. Prakash. K.45) 10 FY 02 0. Krishna Deshika.90 (568. Air Separation plant in June 1999 and Bar and Rod Mill in May 2002. LMW has sold their entire shareholding in SISCOL to the Jindal South West (JSW) Group. Mr. The capacity of the plant is 0. In terms of the CDR approval and as per approval by the shareholders of SISCOL and by SEBI. 2004 is as follows: Category Promoters and Promoter Group (a) JSW Group (including Mr.71 10. Mr. The Company is in the business of manufacturing Pig iron. Sinter plant in August 1997.00. Sajjan Jindal.93 45. (LMW) and Tamil nadu Industrial Development Corporation Ltd. 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.in lacs) is given below: No. 1991 as a Public Limited Company promoted by M/s.55. 2004 within the meaning of the Sick Industrial Companies (Special Provisions) Act. P.000 56.100 7.04 100% .64 0.974 3.82. Billets.700 10. Kshirsagar. Shareholding Pattern The shareholding pattern as on December 31.) (35) FY 04 1.00020 (568. It also has plants for generation of power and production of oxygen. Mr.30 0. FIs and Insurance Companies Private Corporate Bodies Indian Public NRIs/OCBs Total Financial performance The financial performance of the company (Rs. (TIDCO). which is headed by Mr. Mr.000 82. The Company operates an integrated steel plant having facilities for production of Pig Iron.000 3.289.71 - .00. The Company started commissioning its units with iron making division and power plant in 1996.10) 1.850 % of shareholding 39.Information Memorandum The financial performance of the company (Rs.50.3 mtpa. V. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Sales PAT Dividend EPS (Rs. The Company has become a Sick Company as on June 30.664.00 (463.) BV (Rs.39 10 FY 03 1.051.21. The board of directors of the company comprises Mr. S.08 0.10) 10 Southern Iron And Steel Company Limited (SISCOL) Southern Iron and Steel Company Limited (SISCOL) was incorporated on September 11. Steel Billet and Rolled Steel products in the long product category.00 (629.100 29.55) 1.

The company has engaged the services of a Registrar & Transfer Agent to handle the grievances of the investors. Dr.43 (4570.) Stock Market Data Month October 04 November 04 December 04 January 05 February 05 March 05 BSE High (Rs. financing. & Const.11 The Company’s rights issue is open since March 31.85 24.24 7607.05) 4.38 (2771.80 21. Saket Agarwal. (including nominees) Dhaman khol Engg. SWPL has entered into a license agreement with Mormugao Port Trust (MPT) on April 11. depending on the type of complaint.00 18. V. Co. operating and maintaining two dedicated bulk cargo berths at MPT on a build.20.80 FY03-04 (15 months) 16039. Mr.47) Nil (6.) 14. 1997 as a private limited company known as ABG Goa Port Private Limited and promoted by ABG Heavy Industries Limited (ABGHIL).31) (16. (C) Associate Companies (1) South West Port Limited (SWPL) SWPL incorporated on June 26.43) Nil (3. The average time taken by the company for redressal of complaints is up to two weeks.10 and the market capitalization was Rs.24 7607. Nasser Munjee and Mr. constructing.182. resolved/replied 16 and Pending Nil. of shares 1.05 20.60 23.95 15. equipping. Ltd No.12.56 (15340.45 Low (Rs. Raman Madhok.V.K. Pvt. 2005) on BSE was Rs. Nowal.67) 10.J.10 18. operate and transfer (BOOT) basis. The company’s name was subsequently changed to SWPL in September 2003. 2005 – Received 16.05 crores. owning. Status of Investor Complaints received during the period from October 2004 to March.06 FY01-02 16039. Shareholding Pattern The shareholding pattern is as follows: Shareholder ABG Heavy Industries Ltd.72 - .24.The market price of shares of the company (as on April 15. The board of directors of the company comprises Mr. 1999 for the development. 2005 and closes on April 29.96 34144.85 51.24 7607.Information Memorandum Particulars Share capital Reserves and surplus (excluding revaluation reserves) Sales PAT/(Loss) Dividend (%) EPS (Rs.30 23. Sharma (Joint MD & CEO).) 18. Sajjan Jindal. Mr.00 21. designing.000 % of shareholding 26.96 26844.49) Nil (20.20.96 4930.75 34. 2005.23 . Captain B. own.) BV (Rs. engineering.K.25) FY02-03 16039.000 84.

Mr. 9.00 -28.20. Mr.Information Memorandum Tranquil Homes & Holdings Pvt. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs. Vikas Sharma. However. 2004 the Company has issued 11229900 equity shares. K.) BV per share (Rs.80.11 25.37 2. Gerry Reidy. Mr.47 2.600.31 16. (2) Jindal Praxair Oxygen Company Private Limited (JPOCL) JPOCL was incorporated on September 27.89 27. other income) PAT Dividend (%) EPS (Rs.K.24.571.17 100.73 - . Mr. Mr.42 3. N.248.00 --7.000 3.59 No.5% Secured Redeemable Non Convertible Debentures of the Company are listed on The Stock Exchange.91 13. no profit and loss account has been prepared by the company.00 4.910.604.17 1.98 9. The Board of Directors of the company comprises Mr. Muralidhara. Financial performance The financial performance of the company (Rs.000 % of shareholding 74. Jain.21 9. C.00 450.85 Since the company had not started commercial operation till FY04.) Note: Audit for FY 2004 has not been completed yet.85 FY 03 1150.000 45. Asit Gangopadhyay.00 After March 31. in lacs) is given below: Particulars Equity Share Capital Advance against Share Capital Reserve & Surplus Miscellaneous Expenditure not written off BV (Rs. Mr.) FY 04 3497.01 --53.877. FY 2003 FY 2002 FY 2001 15. 1995 and manufactures liquid and gaseous Oxygen.000 15.79 22.03 NIL 1. Qureshi.10 NIL 1.00 15.02.10. of shares 11.00 100. 10 each) Reserves and surplus (excluding revaluation reserves) Income (incl.718. Total Financial performance The financial performance of the company (Rs.000 23. Ltd. Nitrogen and Liquid Argon.81 9. Moosa Raza. Ltd.36 9.200.11 11.95. Mumbai. Mr.938 1.551.062 4. Mr.82 FY 02 550. Kalyana Sundaram. Venkatesh Prabhu and Mr.00 .00 7. I.01 NIL 2. Nalwa Chrome Pvt.01 12.20.200. The Shares of the SWPL are not listed. (Including Nominees) Silver Steel Ltd Total 1.00. Shareholding Pattern The shareholding pattern is as follows: Shareholder Praxair Pacific Private Limited Jindal Vijayanagar Steel Ltd. Sharad Madhok.62.00.24.752.43.00. Mr.79 845.00 26. John Panikar.

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

During financial year 2001-02 since the Company had not commenced any commercial activity. The Company also provided consultancy services resulting in an income of Rs. 5 lacs and made investments in Jindal Group Companies to the tune of 8. Therefore. 2005 stood at Rs.96 lacs as against Reserves and Surplus of Rs.28 lacs.75 - . the Investment Division of JISCO. 0. . During financial year 2002-03 the Company raised additional share capital of Rs. pursuant to the provisions of Section 391-394 of the Companies Act. the Income of the Company for the year ended March 31. 2001. Risk & Concerns JSWHL’s main source of income is dividend on investments made in listed / unlisted companies. 529. 560. The share capital of the Company stood at Rs. or deed. 5 lacs and incurred pre-operative expenses to the tune of Rs. 1109. After giving effect to the above Scheme during the Financial Year 2004-05.50 lacs. the Company continued to hold its investments in Jindal Group Companies in addition to providing of consultancy services.66 lacs mainly comprising of dividend and interest income and the Profit after Tax amounted to Rs.06 lacs.70 lacs. The Company raised equity share capital of Rs. no Profit & Loss account was prepared. stands transferred to and vested in JSWHL. 1956.Information Memorandum MANAGEMENT DISCUSSION & ANALYSIS Performance in successive periods The Company was incorporated on July 12. without any further act.48 lacs. 52121. Pursuant to the Scheme of Arrangement and Amalgamation approved by Hon’ble High Courts of judicature at Bombay and Karnataka. 0. instrument. In financial year 2003-04. any adverse financial impact on the operations / business / performance of investee companies will have negative impact on the revenue of JSWHL.

00 524.00 134. 2004 was Rs.93 1740.00 931.00 134.20 47. 40 each for cash at par aggregating Rs.000 Partial Optional Convertible Debentures (POCDs) of Rs. 6226 crores. 1995.78 197.00 32. converter caster.00 317.77) (34.67 80. hot charging systems in Hot Strip Mill were added to enhance the overall capacity of the integrated steel plant to 1.04) 1220.00 162.00 623.50 crores and (b) 35.18) (148. Corex 1 was recommissioned after a lapse of one year by carrying out rectifications/modifications. 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. Public Issue of Jindal Vijayanagar Steel Limited The company had come out with two simultaneous but unlinked public issues of (a) 13. 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.00 34. modifications were effected to the basic design of the main plant and additional plant/facilities like pellet plant. 1995.00 537.37 0.84) (0.00 78.04) (29.00 180.92 1944. A comparison of promises versus performance is given below: .00 162.00 725.48 (29.23 183.30) 0.00 0.00 (0. 10 each for cash at a premium of Rs. the steel industry as a whole witnessed historically low level of selling prices on account of a global down turn.18) The project cost to set up an integrated steel plant of capacity of 1. These issues opened for subscription on February 10.000 equity shares of Rs. increase in interest during construction and foreign exchange variation also resulted in a cost overrun of the project. 25. When the company started operation of the integrated steel plant after recommissioning of Corex.00.00 126. Delay in disbursal of loans and non-receipt of call money caused a further delay in project implementation. The commissioning of the plants was delayed due to technological issues.18 (0.00. 3300 crores including margin money for working capital. 24.00 151. Public Issue of Southern Iron And Steel Company Limited The Company had come out with two simultaneous but unlinked issues of (a) 1. 135 crores and (b) 27. During the initial project implementation.000 equity shares of Rs.76 - .43 23.Information Memorandum PROMISE VERSUS PERFORMANCE The details of shortfall in promise vs.29 (148. 1090 crores.50.00 614.30 (34. The actual project cost up to March 31. 10 each for cash at par aggregating Rs. These issues opened for subscription on March 23.08 1548. Capitalisation of preoperative expenses incurred during prolonged trail run.00 320.27. 10 aggregating Rs.68 21.000 14% secured redeemable Partly Convertible Debentures (PCDs) of Rs. A comparison of promises versus performance is given below: (Rs.57 mtpa. 70 each for cash at par aggregating Rs.00 129.00 17.50 crores.87 84.50.77) 1093.84) 801.25 mtpa of HR coils in June 1994 was estimated to be Rs.25.00 530.00.00 738.

08 (24.89) 19.58 60.86) 8.725 41. mainly raw material.44 7.91 25.50 301.46 37.70 29. Cryogenic equipment such as ASP is not designed for any stoppages and is expected to work with uninterrupted operations for years together.45 116.06 21. The main reason for this was depressed steel market scenario with low demand and low selling prices. which added to the cost.00 75.72% 16. with pyro metallurgical equipment and machinery.725 22.79) 8.19 214. While the cost of input.e.27 (7.00 86.46 15.00 (2.725 70.80 17. also substantially contributed to a high cost of production.88) (12.94 22.37 75.61 75.55 (33.18) 75.95 7.00% 261.42) (12. 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 .42) 75.41 183. the Company took various steps to improve operational efficiency.16 62.86) Due to delay in disbursal of funds by the financial institutions for project completion.61) (18.29 4. The unscheduled stoppages .45 (12. adversely affected the equipment and the life of refractory lining.35) (13.18) (14. which in turn was due to non-availability of working capital.21% 65.52) 17.88) (12.725 90. In view of external factors such as adverse market conditions.78 (24.00% 228.50 265.47 214.00% 27.80 76. The lower capacity utilization was due to non-availability of input materials in time.37 37.79 101.00% 87. Due to frequent stoppage and start-up.35 65.00 161. lower demand and lower sales realization.66 75. Due to under-utilization of capacity at iron making and steel making stages and almost no capacity utilization in BRM.35) 75.96 21. electricity etc. power and furnace oil increased. Frequent stoppages of ASP caused substantial increase in cost of up-keep for the equipment.37) 70.70 10. the fixed cost and semi-fixed cost components such as manpower.91 3.45) 5.29 4.00 75.61) (13.80 14.725 214.71) (21.13 0.99 39.42 0.42) 17. energy i.60 (7. Frequent shutdowns and start up at blast furnace has led to excessive consumption of costly input materials such as coke and furnace oil.37) 47.00 70.89% 293.34 51.00 FY 99 Projection Actual 214.27 1.37 (4. being an integrated steel plant.500 76.54 76.47 28. FY 97 Projection Actual 214.51 - 47.01) 5.52 9. reduce cost of production and to improve quality.17 15.66 5.725 80.00 (1.50 230.08 (4.78 51.00 49.12 21.78 75.63 1.71) (14.13 84.77 - .55 19. the cost of project went up substantially adding to the fixed cost component of its finished products.% Net cash accruals Equity capital Reserves & surplus EPS (Rs.28 0. The shutdown of operations.34 8. which was even below the cost of production.48) 17.72) 19.00 113. The plant.98 46. the selling prices showed a decreasing trend.56 5.Information Memorandum (Rs. Air Separation Plant (ASP) and boilers of power plant and Energy Optimization Furnace (EOF).00% Trial prodn.49 (1.00 (2.53 (21.00 75. decrease wastage.87 5.08 (4.74) 12. requires uninterrupted operations.45) (4.81 48. 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.34 29.01 2.31 4.25 (18.500 0.44 9.) Book value (Rs) 183. competition. especially at blast furnace. Every start up required liquid oxygen to be purchased from external source.55 (33. blast furnace.14 FY 98 Projection Actual 214.49 37.

However.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. because of an increase of Rs. due to shortage of working capital. 12. The project cost was reappraised in September 2001 to Rs. the company came out with the rights issue of 77. 238 crores increase in the project cost as appraised in September 1997. 143. 1035 crores till completion of project in January 2003.6 mtpa of Sponge Iron and 0.78 - . 839 crores. Public Issue of Jindal Strips Limited In 1992. exchange fluctuation of Rs.30 mtpa mill at a cost of Rs.10 crores for meeting a part of the Rs. Revision in August 1999: Due to the depressed capital market conditions.71 crores and pre-operative expenses and interest during construction by Rs. Consequent to the change in the configuration of the mill. 25. 4. an increase by Rs. The Company had originally planned to import a second hand mill at a cost of Rs. the implementation of the project.12. there was an increase of Rs.28 crores consequent to delays in the implementation of the project. 19.22 mtpa mill. 2. other pre-operative expenses of Rs.17 crores. mainly due to delays in acquisition of land. 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. 12.1035 crores in September 2001.101.87 crores to Rs. 450 crores at the time of original appraisal to Rs.Information Memorandum also resulted in huge inventory of high value items like ferro alloys.1 crores. and executives who have experience in implementing projects in the area. 839 crores. The project has witnessed time and cost overrun since inception due to various reasons outlined above. As a result. was delayed.1 mtpa Sponge Iron/Pig Iron to 0. 280.05 crores. The Company later entered into a contract for 0.05 crores.151 crores mainly on account of additional interest during construction of Rs. 196 crores compared to the previous appraisal of Rs. 688 crores in September 1997.08 crores. which was scheduled for completion in October 1998. the facilities were shut down from November 2000. 27. with commercial production in April 1996.96 crores and balance mainly on account of the cash losses on sale of the intermediate products. However. Due to the gap in the means of financing. Revision in September 2001: The Company had commenced production from part of the facilities. The project had suffered a cost overrun from Rs. there was an increase in the cost of project estimated at Rs. which blocked working capital and increased interest cost. to Rs. the Company could commission only the first phase of the project (iron making facilities) by July 1996. the Company could not raise the public portion of the additional equity aggregating Rs. 450 crores in July 1994 was revised to Rs. to enhance capacity from 0. The original cost estimated at Rs.06 crores. capital equipment costs not originally envisaged (electro-magnetic stirrer) of Rs. 44.91 crores on the foreign currency loans.5% Partly Convertible Debentures (PCDs) of Rs. However. 1035 crores. 46 crores including refurbishing cost for a 0.203 . The reasons for the cost overrun are given below: Revision in September 1997: The first phase of the project (pig iron project) was completed after a delay of 14 months. The Company’s project was originally scheduled for completion in March 1996. 839 crores in August 1999 and finally revised to Rs.5 mtpa of Pig Iron and to put up a captive power generation unit of 45 MVA based on waste heat of the flue gases from Sponge Iron . The increase was mainly on account of the increase in the interest during construction of Rs. increase in trial production losses capitalized of Rs. 34.108. the new promoters.18 crores.79. 360 each for cash at par aggregating Rs. 35. the present project expansion is being implemented by the JSW Group. There was also an increase in cost of miscellaneous assets to the extent of Rs.

734 513 5. not successful for the company.Information Memorandum plant at Raigarh.62 355. without having the cooling cycle operation.000 MT 200.34 147.000 kwh Utilisation 4% 3% 11% 0. in crores): Land & site development Building Plant & Machinery Misc.52 The actual project cost.82 15.5% 23% 1% 26% 43% 10% . the kilns and submerged arc furnaces were expected to be installed by March 1994. As per the original plan.719 490 46.00 449.62 57. The company. Sponge Iron was to be manufactured from the Rotary Kiln (6 kilns each of 0.757.000 MT 200. was Rs. was to be transferred to Submerged Arc Furnace for manufacturing Pig Iron. cumulative till 1995-96.566 97. 50% for 1993-94 and 70% for 1994-95 for its new project.000 30 MW Production 97 75 11. The company expected to achieve a capacity utilization of 30% for 1992-93. however. The Submerged Arc Furnace installed initially was utilized for manufacturing Ferro Chrome. and problems were also faced by other steel manufacturers.449. Installation of kilns of Sponge Iron and 45 MVA power generation facility was completed by the company as follows: Particulars Kilns Turbine Generation # I Turbine Generation # II Turbine Generation # III Electric Arc Furnace I Electric Arc Furnace II Submerged Arc Furnace Actual Date of Completion 21-Mar-91 to 11-Jan-96 23-Mar-92 18-Mar-94 28-Mar-95 23-Feb-93 28-Feb-95 21-Mar-91 As per the plans disclosed in the letter of offer of the company.000 MT 100.000 MT 100.79 99. This technology was.36 85. 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.916 2. therefore.41 19.000 MT 200. A comparison of promises versus performance is given below: The cost of fixed assets in the project is as under (Rs.79 - . 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 100.175 nil 20.52 crores. Fixed Assets Others Total Planned costs Actual costs 1.89 345.000 MT 100.000 MT 200. This issue opened for subscription on March 9.68 28. Madhya Pradesh.1 mtpa) and the Sponge Iron in hot stage. 1992. changed the plan for manufacture of Pig Iron and decided to install 2 Electric Arc Furnaces of 50 tons each for manufacturing Mild Steel.000 MT 100.000 MT 300.99 2.

The project was completed on 13.000 200. This issue opened for subscription on July 7.771 300.3. 1. 10 each for cash at par aggregating Rs.667 kwh 1.000 500. 1986. the company came out with the public issue of 19.000 500.80 - .000 45 MW 30. The actual capacity utilization is close to the projected figures except for some differences encountered during the process of stabilization of equipment.447 78.850 45. thick walled large diameter SAW Pipes.970 35.992 crores. to set up a project for the manufacture of high pressure.Information Memorandum 1994-95 Sponge Iron Mild Steel Power Ferro Chrome 1995-96 Sponge Iron Mild Steel Power Ferro Chrome MT MT MT MT MT kwh MT 400.000 30 MW 30.731 66% 23% 6% 71% 14% 26% Note: Capacity utilisation % has been worked out after considering commissioning period.745 7. Public Issue of Jindal Saw Limited In 1986.92.380 69. .073.000 equity shares of Rs.1987 and commercial production was started.000 204.613.

(Resp. … Applicants Vs.40. Directors or Promoter Group companies.) 86. 86. its Promoters. Promoter Companies Jindal Strips Limited Case No. institutional or bank dues or dues towards holders of debentures. Against Promoter / Group / Associate Companies of JSWHL (A) (1) Sr. & Ors. No.15% Facts 1.40.A.213 of 2001 Benares State Bank Ltd.291/along with interest is sought against Jindal Strips Amount Involved (Rs. bonds and fixed deposits and arrears of preference shares.drawn by Hindustan Foils and discounted the same with the Applicant Bank.Information Memorandum OUTSTANDING LITIGATION AND MATERIAL DEVELOPMENTS Save as stated herein: • There are no outstanding or pending material litigation. 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. Hindustan Foils Ltd. its Promoters or Promoter Group companies. Hindustan Foil Ltd.40.81 - . O. other than unclaimed liabilities of the Company. The United Western Bank Ltd. Against JSWHL by employees There is no outstanding litigation against JSWHL by its employees. • Against JSWHL There is no outstanding litigation and default against JSWHL.6) …Defendants Jindal Strips had accepted hundis worth Rs.291/. No.291/together with interest @22. New Delhi for Hearing Subject of the Matter Recovery Suit for bills dishonoured by Hindustan Foils. A decree of Rs. By JSWHL against its employees There is no outstanding litigation by JSWHL against its employees. There are no material defaults. has filed an . Jindal Strips Ltd. 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. criminal or civil prosecution. 86. non payments or overdues of statutory dues. suit. Parties Pending Before DRT. No.

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

295 hectares in Sukhinda Mines to Orissa Mining Corporation contrary to Chahar 5.A.2 of 2004 In Review Petition (Civil) No. is identical in nature. …Applicant Supreme Court of India for Hearing Lease of Mines . Intervention Application of JSL shall be considered only if review petition is allowed. under Section 11(5) of the MMRD Act.6788 of 2004 State of Orissa …Petitioner V/s. & Anr.Information Memorandum 4.83 - .17250 of 2003 In Civil Appeal No. 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. Indian Charge Chrome Ltd. on the ground that interest of the Petitioner and that of Jindal Strips Ltd. State Govt. And Jindal Strip Ltd. & Ors… Respondents And Jindal Strip Ltd. Jindal Strips Ltd. Union of India & Ors. The Petitioner has sought review of the said judgment from the Supreme Court. GMR Technologies & Industries Ltd.469 of 2003 In Transfer Case No. Supreme Court of India I. Indian Charge Chrome Ltd.9 of 2002. V/s. Supreme Court of India for Hearing - - Jindal Strips Ltd.A. No. has filed an Intervener Application in a case filed by Indian Charge Chrome Ltd. decision to allocate the entire 436. I.2 of 2004 In SLP (Civil) No. 1957 in relation to Sukhinda Valley / Sukhinda Mines. 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. 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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1958 Nature of the dues Income tax demand Gift tax demand Forum where dispute is pending 5.437 Penalty Imposed by SEBI A sum of Rs.217 2. Name of the Statue No. No.807 ITAT. . c) The Company has pledged 4900000 equity shares of Jindal Vijayanagar Steel Ltd & 669 sares of Jindal Iron & Steel Co.31.05 lacs equity shares of Haryana Concast Ltd from H. 1961 Income tax demand Income tax demand 1. Rs.99 lacs) b) Rs. Income Tax Act. b) The Company has given 1376677 equity shares of Jindal Iron & Steel Co.D.83 lacs.00 lacs. 2004 Contingent liabilities are: a) Outstanding disputed income tax and gift tax liability of Rs. 743. 1. 212.75 lacs Cumulative arrear of dividend on 10% Redeemable Cumulative Preference Shares. 715. 1961 2.000/.has been paid on October 20. 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.78. 2. Gift Tax Act. Name of the Statue No. 1. • Non-payment of dues are as follows: Sr.S.56. 1961 Income tax Act. 1961 3.48.55 lacs of dividend on 10% Redeemable Cumulative Preference Shares not provided. 1. • Non-payment of dues are as follows: Sr.83.960 ITAT.44 lacs (Previous year Rs.730 CIT (A).25.1293. New Delhi 47.15.15. 1961 2. Gift Tax Act. 2004 under amnesty scheme for regularisation of Violation of Regulation 6&8 of (Substantial Acquisition of Shares & Takeover) Regulation 1997.88. for which no provision has been made. e) Rs. Name of the Statue Nature of the dues Amount Forum where dispute is pending CIT (Appeals) New Delhi ITAT New Delhi Income tax Act.I.738 ITAT New Delhi 1.Information Memorandum Sr. Income Tax Act.C. f) In respect of bid for 63.488 ITAT New Delhi Amount (6) Nalwa Investments Limited Contingent liabilities not provided: a) Disputed income tax Liability Rs. New Delhi Amount (5) • Jindal Equipment Leasing and Consultancy Services Limited As per Audited Balance Sheet of March 31. Income tax Act. 399. Ltd with Deutsche Bank as safe custody of credit facility granted to Jindal Tractable Ltd.21. 175.65. New Delhi 61.34.87 - . 287. 1958 Nature of the dues Income tax demand Income tax demand Gift tax demand Forum where dispute is pending 1.

Gas Authority of India Ltd. 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. No. (GAIL) Delhi High Court Appeal against Arbitration Award Rs. in crores 229. The reduction of price is being disputed by Jindal Saw Ltd.752. 1.) This case relates to the application of Price Reduction formula by GAIL pursuant to the delay in supply of pipes by Jindal Saw Ltd.02 58. with I.000/. 48 crores (approx.C. 175.2004 are in respect of: Sr.16 20.Information Memorandum (7) Abhinandan Investments Limited Contingent liabilities not provided: a) Rs. Ltd..I.53 lacs Cumulative arrear of dividend on 10% Redeemable Cumulative Preference shares. 2004 under amnesty scheme for regularisation of Violation of Regulation 6 & 8 of (Substantial Acquisition of Shares & Takeover) Regulation 1997.00 Civil Matters Sr. b) The company has pledged 2. for credit facility granted to JSPL. The Arbitrators have passed Award in favour of Jindal Saw Ltd. Parties Pending Before Subject of the Matter Amount (Rs.has been paid on October 20. (8) Jindal Saw Limited Contingent liabilities not provided for as on 30. Penalty Imposed by SEBI A sum of Rs.09.360 equity shares of Jindal Steel & Power Ltd. Vs.87 4..) Facts Case No. . No.16.C. and the same has been challenged by GAIL.I.88 - . Case No.02 0.264 of 2003 Jindal Saw Ltd.35 429.

ONGC has challenged the Award before the High Court. - M/s. This matter relates to the application of price reduction formula applied by ONGC pursuant to the delay in supply of pipes. (ONGC) Bombay High Court Appeal against the Award of the Arbitrator 1.Information Memorandum 2.100 2 of 2002 M/s. The reduction of price has been disputed by Jindal Saw Ltd. Vs. Oil and Natural Gas Corporation Ltd. Bangladesh Delhi High Court US$ 705698 This matter relates to the application of price reduction formula applied by BPCL pursuant to the delay in supply of pipes by Jindal Saw Ltd.862 of 2002 M/s. Dhaka on false and frivolous grounds. Vs. Jindal Saw Ltd. ONGC has challenged the Award before the High Court.12 crores 4. The reduction of price has been disputed by Jindal Saw Ltd. The Arbitrators have passed Award in favour of the Jindal Saw Ltd. 1. Oil and Natural Gas Corporation Ltd. (ONGC) Bombay High Court - US$ 60224. Bharat Petroleum Corporation Ltd. .83 crores 3. Suit No.292 of 2003 M/s.58 5. SDJV.89 - . Vs. Arbitration Penalty for delay in supplying pipes Rs. SDJV. Vs. This case relates to the dispute relating to the applicability of foreign Exchange rates on payments made by ONGC to Jindal Saw Ltd. Arbitra tion Petitio n No. Jindal Saw Ltd. Appeal No. Bangladesh attempted to invoke the performance Bank Guarantee for USD 705698 issued by Canara Bank through Bank of Nova Scotia. under a contract for supply of pipes. The Arbitrators have given the Award in favour of the Jindal Saw Ltd. Jindal Saw Ltd. Jindal Saw Ltd.

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

E.T. Criminal Offences 1.31 by Jindal Saw Ltd. Criminal Case No 416 of 2004 Gujarat Pollution Control Board Vs.Y.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.T Act 1948 are attracted which stipulates penalty up to 40% of value of material so imported. 1. on F. High Court Allahabad A. 1997-98 Rs.J Pipes Mumbai without Form No.Information Memorandum jurisdiction to try the matter.83. & Ors First Class Judicial Magistrate. Assessing Authority Trade Tax Vs.91 - .600 The Add. Jindal Saw Ltd.Y. had undertaken substantial contraction of plant and blast furnace without obtaining prior environmental clearance. According to the Board this is in violation of the Environmental Impact Assessment Notification 1994. is disputing the above matter. 1. .66. 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. A. Assessing Authority Trade Tax Vs.P. Assessing Authority Trade Tax V/s Jindal Saw Ltd.Y. High Court. Commissioner has reopened this matter Under Section 21(2) of the U.T Act 1948. Jindal Saw Ltd. 1997-98 Rs. Allahabad A. Jindal Saw Ltd. for carrying out job work.694 2. 3. Deputy Commission er (A) Kosi Kalan. Other Indirect Taxes Matter 1. This Appeal has been filed by the Department against Jindal Saw Ltd. Jindal Saw Ltd.P.T Act 1948 for escapement of Tax.42.940 3. 5.T. 1995-96 Rs.P. The provisions of Section 15 A (1) (0) of the U. Assessing Authority Trade Tax Vs.906 4. variation. This matter relates to the imposition of interest on tax deposited by Jindal Saw Ltd. High Court Allahabad A. 1991-92 Rs. Jindal Saw Ltd. This case is in relation to the import of material from M/s P.11. Mundra Environm ental Pollution The Pollution Board alleged that Jindal Saw Ltd.T.

On appeal. On appeal.000. 2004 include: 1. 2265. Current Status of Tax Demands Gagan Trading Company Ltd.Information Memorandum 5. 1502. Versus Comm. On further appeal. (8)(b) of the Wealth Tax Act of the 184.42 lacs. Mumbai has heard the Appeal and decided in favour of the Company. 159. Of Wealth Tax ITAT. Mumbai for Hearing Assessment Year 2000-01 592. Disputed tax demands Rs. 2. (10) Gagan Trading Company Limited Contingent liabilities not provided for as on March 31.84 lacs. property of the company.16 lacs. & 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. Supreme Court of India This matter relates to the applicability of Form 3 B and C. The ITAT. 578. Assessment Year 1997-98 and 1998-1999 Addition of notional interest on security deposit received while computing income from house property and the disallowance of interest. Jindal Saw Ltd. However.584 has not been acknowledged as debts in view of misappropriation of shares of the company. Versus Comm.20 Chargeability to Wealth Tax u/s 4 lacs and Rs.08 lacs Addition of notional interest on security deposits received while computing income from house property and disallowance of interest.16. of Income Tax ITAT. b) The company has lost the case of misappropriated shares for 600 equity shares of Jindal Strips Ltd.40 lacs . Assessing Authority Trade Tax Vs.3. the CIT (Appeals) has decided the matter relating to the addition of notional interest in favour of the company. of Income Tax Gagan Trading Company Ltd. Jindal Saw Ltd. Rs. Mumbai Assessment Year 1998-99 Gagan Trading Company Ltd. ITAT. Versus Comm.92 - . respectively the CWT (Appeals) upheld the Assessing Officer’s contention. had purchased HSD (High Speed Diesel from Indian Oil Corporation Ltd) and this case relates to purchase of HSD against Form 3 B and C (9) Colorado Trading Company Limited Contingent liabilities not provided for in respect of: a) Dividend receivable of Rs. Dividend on preference shares Rs. Mumbai has decided in favour of the Company. 567. the company is in the process of filing appeal to ITAT on the other issue of interest disallowance.

Parties Pending Before Subject of the Matter Amount Involved (Rs.) Facts Writ Petition No. 20. the CIT (Appeals) upheld the Assessing officer’s contention. The Company is in appeal to Income Tax Appellate Tribunal. 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. 2004 pertained to dividend on preference shares (pro-rata) amounting to Rs. Current Status of Outstanding Litigation Case No.111 Lacs as detailed below : Assessment Year & Amount of Demand 1991-92 Rs. The Company is in the process of filing an appeal to the CIT (Appeals).56. 20 lacs. (13) Reynold Traders Private Limited . 2 1993-94 Rs. 8090 of 2003 Gagan Trading Company Ltd. 2004. As on March 31. The petitioner filed this writ contending that the same was not required. The demand had arisen due to disallowance of loss on renunciation of Rights shares.54.431. (11) Sun Investments Pvt. Ltd. there was a default relating to interest on OCDs amounting to Rs. which is yet to be decided.Information Memorandum Assessment Year 2002-03 Rs. Director General of Foreign Trade (DGFT) and Comm.93 - .29 Lacs Details & Current Status Sr. Versus Union of India. of Customs issued a notice under Central Motor Vehicles Rule 126A for nonsubmission of homologation certificate.25 lacs. The Company is in appeal to CIT (Appeals). 1 The demand had arisen due to disallowance of set off of brought forward loss of earlier year. No.92 Lacs Addition of notional interest on security deposit received while computing income from house property and the disallowance of interest. Contingent liabilities not provided for as on 31-03-2004 related to Disputed Income Tax Demand of Rs. On appeal. which is yet to be decided.56 Lacs (12) • • Vrindavan Services Private Limited Contingent liability not provided for as on March 31.

State Sales Tax Dept. 199899 3. 42.75. Board of Revenue Surcharge imposed and less set-off allowed 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. Board of Revenue Denial of benefits for New/Addl.20 5. The Company is in the process of filing an appeal to CIT(Appeals) against the order. 1. The Company has already deposited a sum of Rs. 6. The company has already deposited a sum of Rs. Jindal Steel and Power Ltd.Information Memorandum Income Tax Demands For Assessment Year 2000-01.58. 4.946 for the A. 20002001 The Company has been denied benefits on its new/additional products manufactured by it. Products produced Rs. 46. No. 2004 are in respect of : Sr. The company has been denied benefits on its new/additional products manufactured by it. State Sales Tax Dept. 2000 the Dept. (B) Promoter Group Companies (1) Jindal Steel & Power Limited Contingent liabilities not provided for as on March 31.000 against the amount demanded.02 208.for the A. Jindal Steel and Power Ltd. 82. Rs.Y.against the amount demanded. a demand of Rs.14 Lacs has arisen due to levy of penalty u/s 271(1) (c) on addition made by the Assessing Officer due to disallowance of interest expenses claimed by the Company.340 for the A. Vs. Jindal Steel and Power Ltd. The company has already deposited a sum of Rs.396/. By an Order dated April 29.94 - .000/. Board of Revenue Denial of benefits for New/Addl. 199798 2.Y.38 14.58 7.) Facts 1. has passed an Order in the favour of the company.30.76 36.000/. Crores 459.Y. State Sales Tax Dept. Products produced Rs. . Vs.28 Sales Tax Matters: Sr No Parties Pending Before Subject of the Matter Amount Involved (Rs.against the amount demanded. Vs.20.

03 stock and physical stock taken by the department. Comm. Chattisgarh Payment of Duty 1. has imposed a duty of on two (2) Induction Furnaces for the period April 1. Modvat credit on capital PH over on 20/2/2001.03 **PH goods relating to power plant 25. The company has already deposited the amount. Cenvat Credit on capital Replied on 11. The Department has imposed duty on Ladle Transfer Car by treating it as an item falling under heading 86 instead of 84.12.45 lacs The Dept. Comm. V(CH86)15264/R/P R/JC/200 4/ADJ/51 88 Comm.03 installed within the factory. 1. Amount (Rs) Pending Before Description of the Case Present Status 1993 179.1.05 .00 crores under protest.10. of Central Excise Vs. Raipur Classificati on for imposition of duty 7.12*Adjourn 28. Parties Pending Before Subject of the Matter Amount Involved (Rs.697 Asst Commisioner Excise Asst Commisioner Excise Asst Commisioner Excise Asst Commisioner Excise Asst Commisioner Excise Asst Commisioner Excise To the department. Vs.03 installed within the factory This case relates to service tax Reply sent on GTO service 01.012 Cenvat Credit on capital Replied on 14.95 - .1998 after the Finance Act amendment in 2003.177. goods.55 crores 2. Asst Service tax on the services of Reply Sent 27.12 .06.697 1658 3.220. the modvat Replied on 4/7/96 – No PH document does not appear to be genuine. 1998 to March 31. of Central Excise High Court.04*ph Commisioner M/s NKK Corporation Japan 18.400 2300 37.679 1287 241. Other Excise Matters Case Ref.11. The company has paid an amount of Rs.7.1998 to 17.) Facts 1.7*27. The matter had been appealed in the CESTAT by the company against the Order passed by the Comm. 3949 1.Information Memorandum Central Excise Matters Sr No Case No. A case of difference of book Reply sent ON 29. Jindal Steel and Power Ltd.02.874 2661 483. Jt.03.11. 2000.772 9053 381. Writ Petition Jindal Steel and Power Ltd..03 ** PH goods relating to power plant 5.9.

CEGAT allowed modvat DEPT.4.11.96 - .002.31.451 23446 717.03.8.02 denied by Commissioner.01 * WRIT for 1.037. Cenvat credit as inputs on Reply sent .04 include the amount of volume discount on freight availed from Indian Railways in the assessable. Commissioner Excise 21164 4. Commissioner Excise Add. Ref APPL – High credit on refractory materials Court to us.96. Service tax on Engineering reply sent on 28.12. Commissioner Excise 492 4.606 High Court Bilaspur 19103 2187 Chief Commissioner Excise 6.2004 rails and concrete sleepers and allied goods used in the factory This relates to demand of duty Replied on 10.05*ph Study (Audit) by an 18.Information Memorandum Excise 4558 473. Jumbo Electric Platform truck as inputs and Ladle transfer car as capital goods.058 1303 1.04 coalmine.000 Add.644 1005 Add. M/s HPCL.131. Commissioner Excise Add.042. which stands in our favour.4.05 Engineering Company of Germany.297.10.9.98 to 1. This is to be reversed.702 20755 2.527. Service tax on GTO service Replied 22. Dept disputes that this item would be capital goods .03 Graphite Electrode as inputs.7.05 concrete sleepers and allied goods used for laying railway track in the factory.6. Commissioner Excise 27.726.417 3955 15. Commissioner Excise 4169 4. Cenvat credit as inputs on Reply sent on 20. We have HC BSP also filed a writ petition before High Court.061 Chief Commissioner Excise 346.04 transport vehicle. This case refers to deficiency OIO Received – full in the document of the Disallow –Appl to be filed supplier of the goods. Commissioner Excise Add. Department has filed a Dept – Appeal – HC – PH petition before High Court 4.259 1489 2.98.840 that we have taken in Japan itself (off shore service).756 Appealate Tribunal Raipur High Court Bilaspur 1077 43.3. Department proposes to Reply sent on 30. Sponge iron burnt in the year CEGAT Remand to CCE 2000. The matter has been referred to High Court.593 Asst Commisioner Excise Add. Cenvat on explosive used in Replied .2.02-NOT HELD against order of CEGAT. Cenvat credit on Hot metal Reply sent on 1.2. Remission of duty PH held 22.04 on some old and used goods from factory to Nalwa Sponge.2.5. Cenvat credit taken on Reply sent on 11.832 Add.

2) There are Central Sales Tax matters pertaining to A.323 Joint Dispute relates to modvat PRE-OBJ.745 Joint Cenvat credit taken on Reply sent.1.06 5. 2002-03 against the company for imposition of interest and penalty arising due to change of name of the company and non-submission of E-1 certificate respectively. a) b) c) d) e) f) Particulars Counter guarantee given to the company’s bankers for the guarantee given by them on behalf of the company Letter of Credit outstanding (net of liability provided for in the books) Bill/cheques purchased / discounted by bank under BP/BD limit Claims and other liabilities against the company not acknowledged as debt Sales Tax against which company has preferred appeals Disputed Excise Duty Rs. This is to be reversed.).05 *4.13 lacs (approx. No.21 127.39 lacs (approx.32 lacs (approx. 7.Information Memorandum 953 3. 3) The Gram Panchayat has served a notice upon the company imposing Local Body Tax of Rs.50 lacs (approx.26 3.-20/9/94-NO PHCommissioner credit on capital goods.Y.938 Appealate Cenvat on explosive used in DEPT APPEAL ** PH Tribunal Delhi coal mine. 1999-2000. which in aggregate amount to a demand of Rs. The company is disputing the levy.511. (2) Jindal Stainless Limited Contingent liabilities not provided for as on 31.) against which the company has already deposited an amount of Rs.4.4. 2000-2001 and A. 592. 66. 3.011.05 Tribunal Delhi components/accessories (Chapter 84 vs Chapter 73) fabricated within the factory for captive use.03. The aggregate amount demanded is Rs. 4) The company has been served with two (2) Show Cause Notices from the Commissioner of Central Excise.97 - . 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.) 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.05*29.PH held Commissioner Graphite Electrode as inputs.).05 appeal pending in CESTAT.) against which the company has already deposited an amount of Rs.Y.79 5.Y. in Crores 34.74 lacs (approx. 1. A. 3.03.319.2004 are in respect of : Sr.93 254.104 3081 4576 2623 APPL*PH Appealate Classification of steel DEPT 09. Raipur for an amount of Rs.31 Civil Matters: . 0. Departmental 5. 8. Excise 981.

New York Branch And Surya Impex. Excise and Service Tax Matters 1. 9. Hisar had made a demand for development charges in respect of a club constructed by Jindal Stainless Ltd. 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. 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. Vs.in favour of Surya Impex. had acquired 2. subsequently. New Delhi Subject of the Matter Suit dismissed as infructuous.48.Information Memorandum Parties Pending Before High Court.) Potential liability of USD 4.606 of 2002 Jindal Stainless Ltd.71. V. Jindal Stainless Ltd. Facts Haryana Vidyut Prasaran Nigam Limited (HVPNL) Vs Jindal Stainless Ltd. Writ Petition No. KBC Bank N. Jindal Stainless filed an Appeal in the Delhi High Court challenging the order of dismissal of the suit. HVPNL cancelled the allotment. Supreme Court of India Service Tax .V.For the period 16.500/alongwith interest.00. KBC Bank N. in its factory premises @ Rs.e. ICICI Bank KBC Bank N. However. 120/per sq. Hisar for Hearing Development Charges Upon instructions of Jindal Stainless Ltd. HVPNL has filed this Appeal. filed the present suit for declaration that it is not liable to pay any amount under the L/C and also for a Permanent Injunction restraining ICICI Bank from making payment of the L/C amount to KBC Bank N.6.23.5 Acres of land from HVPNL which is situated between its two factories. negotiated the Letter of Credit on the basis of forged and fabricated documents and inspite of requests from Jindal Stainless released payment to the holder in due course.Jindal Stainless Ltd. Jindal Stainless Ltd. yd. Stainless V/s.11. Jindal Ltd.163 The Excise Department has levied Service Tax @ 5% on Rs. The Municipal Corporation. on account of the freight paid for the .98 - .44. V. Union of India & ors. Amount Involved (Rs. Civil Court. was the negotiating Bank.1998 Rs. 49. V.1997 to 1. filed a suit for specific performance and obtained a decree in its favour.48.000/- Municipal Corporation (Hisar) Vs Jindal Stainless Ltd.500/.259/on account of the services provided by goods transport operators i. Civil Court. ICICI Bank opened letter of Credit of US$4. Hisar LAND 15.

the Department . Rohtak for Hearing For the period September. Gurgaon Modvat Credit on capital goods For the period April. 1996. Jindal Stainless Ltd. 1996 to July.1997 to 1. Rs. Refractory items etc.14. electric items. November and December. 1995 June.6.188 (in all Eight Appeals) 3.71. Commission er (Appeals). The company has paid the amount of Rs. The company replied to the Show Cause Notice and Asst. 49. 1996.05. 1994 January.99 - . 57.1998. 1996 Rs. 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.998 period from 16. 1996 to March. The Department has levied Modvat Credit on capital goods namely Electrical and Machinery items and issued a Show Cause dated October 23.11. A/380387/2001 – NB(D) (Eight Appeals) (Northern Bench) Commissioner of Central Excise Vs. Appeal/Delhi – III/45/2001 Central Excise Commissioner Vs. Before Central Excise. Commission er. CESTAT has by its order remanded all the eight matters back to the adjudicating authority for reconsideration of the entire matter in view of latest judgment of Supreme Court in Jawahar Mill’s case. The Department has levied Modvat Credit on capital goods namely electrical goods.Information Memorandum 2. 49. Jindal Stainless Ltd.163/under protest. Being aggrieved. Commissioner decided the case in favour of the Company. 1995 to May.

000/- 6. The Department has levied Modvat Credit on capital goods namely Refractories and Refractory items. - Central Excise Commissioner Vs.69. 21. 2000.100 - . Jindal Stainless Ltd. 19. Gurgaon Rs. High Court. The company had entered into agreement with State Electricity Board (SEB) for supplying power generated by it to the SEB Grid and also for selfconsumption. The Department has levied Modvat Credit on capital goods namely Wires and Cables. Commission er (Appeal). The Department has alleged that the company is supplying power . filed an Appeal before the Commissioner (A) and the same is pending.003/- filed Appeal before Commissioner (A) and the same is pending. 1944 for its opinion vide an Order dated November 9.06. Jindal Stainless Ltd.000/- 5.2004 issued by Commissioner of Central Excise. Delhi Modvat Credit Rs.Information Memorandum 4. 2004 Rs.33. Rohtak Commission er of Central Excise.12. - Show Cause Notice C. Rohtak Modvat/ Cenvat credit For the period January. The case was held against the Department and subsequently the Dept. The Company filed a Reference Application before the High Court against the order of CESTAT on Capital goods namely: Brass Casting Articles. IV (HQ)361/Tech/Jind al/D-V/04/14357 dated 28. 2004 to June. No. 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. 78. - Central Excise Commissioner Vs.

161 Forum where dispute is pending CIT (Appeals). New Delhi (5) Jindal Seamless Tubes Limited Contingent liabilities not provided in respect of Show Cause Notice issued by Central Excise Department for raising a Demand Draft of Rs. Non-payment of dues is as follows: Name of the Statue Income tax Act. New Delhi (4) Renuka Financial Services Limited Non-payment of dues is as follows: Name of the Statue Income tax Act. New Delhi Amount .ITAT. 1961 Nature of the dues Income tax demand Amount 10.719/. (6) Brahmputra Capital And Financial Services Limited Non-payment of dues is as follows: Name of the Statue Income tax Act.Information Memorandum only to SEB and therefore not entitled for Modvat/Cenvat credit of the duty paid on the fuel used for generation of power for selfconsumption. 1961 Nature of the dues Income tax demand Amount (Rs) 80.869 Forum where dispute is pending ITAT.23. 1961 Nature of the dues Income Tax Demand Forum where dispute is pending 1.81. 12. 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.748.45.101 - .58.636/-. 3.

On appeal. • (10) Kamshet Investments Private Limited Income Tax Demands For Assessment Year 2002-03.92 lacs. The demand has arisen on account of add back of interest payable amounting to Rs. The Company has filed an appeal to CIT(Appeals) against the order. 1. a demand of Rs. which the Assessing Officer had treated as no longer payable. a demand of Rs. The Company is in the process of filing an appeal to CIT (Appeals) against the order.23.15. a demand of Rs.3.(Previous Year 28.3.71.15 Lacs has arisen due to recomputation of Capital Gains considering a lower purchase cost by the Assessing officer. (11) • Musuko Trading Private Limited (MTPL) Contingent liabilities not provided as on June 30.15.750/.62 Lacs has arisen due to disallowance of Website Development expenses incurred by the Company.915/. .32 lacs. Contingent liability not provided for : Arrears on fixed Cumulative Dividend on preference shares Rs. 2004 related to disputed Income Tax demand for Rs.(Previous Year 24. 1.085. Ltd. For Assessment Year 2002-03. 81. The Company is in appeal to ITAT and the matter is pending. On appeal. (12) Naman Enterprises Private Limited Contingent liabilities not provided for as on 31-3-2004 comprised of dividend on Cumulative Preference Shares amounting to Rs.55. The demand has arisen on account of interest disallowance by the assessing officer. 10. the CIT (Appeal) has deleted the addition and the matter stands decided in the Company’s favour.70 lacs.102 - . 2004 relate to Income tax demand disputed in appeal pertaining to assessment year for Rs.Information Memorandum (7) Gagan Sponge Iron Private Limited Contingent liability not provided for : Arrears of Cumulative Preference Shares dividend Rs.220) (8) Opellina Finance & Investment Pvt. 41. 197. the CIT (Appeals) has upheld the disallowance.43 lacs has arisen due to recomputation of Capital Gains considering a higher sale value by the Assessing officer. The Company has filed an appeal to CIT (Appeals) against the order.032/-) (9) • Baltimore Trading Private Limited Contingent liabilities not provided as on June 30. (13) Sapphire Technologies Limited Income tax Demands For Assessment Year 2002-03.22 lacs.

573. 2000 for supply of power.95 lakhs.103 - . Outstanding Litigation Sr. Similarly.72 lakhs claimed by the Company towards rebate for prompt payment on another loan from the same Financial Institution. (JTPCL) The Govt. 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. 2004 1. Claim by a Financial Institution against the Company disputed by the Company (Power Finance Corporation Limited) on the ground that the same is not due in terms of the loan documents and not acknowledged as debt of Rs. JPTCL entered into a Power Purchase Agreement with KPTCL in November. Parties Pending Before Supreme Court of India for Admission Subject of the Matter Modification of Power Purchase Agreement (PPA) Amount Involved (Rs. 2. 10890. Security provided to Banks/Financial Institutions by way of pledge of shares of Jindal Vijayanagar Steel Limited (JVSL) against credit facilities extended to JVSL for Rs. No. 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. 1999. net of Rs. 1 Case No.) Nil Facts Karnataka Electricity Regulatory Commission (KERC) Versus Jindal Thermal Power Company Limited & Ors. JTPCL filed an .23 lakhs.Information Memorandum (14) Jindal Thermal Power Company Limited Contingent liabilities not provided for as on March 31. 14449. 24. Pursuant to Karnataka Electricity Reforms Act.30 lakhs. of Karnataka had granted permission to JTPCL for selling power directly to industrial units and the balance to KPTCL.

84 Labour Cases There are six (6) labour related matters against JVSL for issues such as dismissal from employment. An interim stay has been granted in favour of JTPCL upon depositing Rs. 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. in crores 5. 2005: Sr. Karnataka High Court. Jindal Thermal Power Company Limited (JTPCL) Versus The Deputy Comm.01 149.7 lacs.) Facts appeal against this order before the Karnataka High Court. (15) Jindal Vijayanagar Steel Limited Contingent liabilities not provided for as on March 31. sales tax. income tax and other levies (excluding interest) Rs. No. KPTCL has filed this appeal before the Supreme Court against the Order of the Karnataka High Court. 55 lacs with the Court. 1.71 crores i. Bangalore for Arguments For the Assessment Year 2001-02 & 2002-03 0. Particulars Claims against the Company not acknowledged as debts Bills discounted Disputed claims including those pending in Courts for excise & custom duties.Information Memorandum Sr. 4.81 487. No. accident at the COREX-I site in July 2002 and compensation claims aggregating to Rs. Tax Matters 2.e. . Parties Pending Before Subject of the Matter Amount Involved (Rs. Case No.104 - . 2. 3. levied interest u/s 234B and 234C of the Income tax Act. the Net Tax Liability (after adjusting refunds and payments) The Tax Dept. which set aside the order passed by KERC. of Income Tax & Anr.

Bheeman Gouda and Sri. Hosagerappa of Kudithini based on the orders of Asst. The petitioners have filed a case for compensation for the tamarind trees. 200000 Status The parties have gone on appeal for enchancement of compensation against the land acquisition-Trial going on.P.S. Jindal Vijayanagar Steel Ltd. Bly & JVSL JVSL Vs Smt.60 lacs. Bellary Steel has filed the Writ Petition to Stay Income Tax Department Notice reopening the assessment for the Assessment Year 1997-98 . which were their during the acquisiton of landTrial going on. The parties have gone on appeal for enchancement of compensation against the land acquisition-Trial going on. Recovery of loan with interest Amt. 30. 3110/2002.J. we have paid the ex-gratia as per the orders of Asst. Commr & LAO.Commr. Commr. 3109/2002. 30.10. Bellary High Court of Karnataka 200000 300000 O.Gouramm a/ Shri.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.190/03 Writ Petition 10713/200 4 SBI & others VS Bellary Steels & Alloys Ltd & others in which JVSL is one of the respondents. JVSL is a debtor of Bellary Steel and has been served with a garnishee notice for an amount of Rs. Commr & LAO.000) to herself. Original application No. 3111/2002 Addl. Bly & JVSL Gavisiddana Gouda Vs Asst. 17 / 2000 @ 92 / 2002 C. RoranagalluL Civil Judge (Jr.4/2005 Smt.Dvn) & JMFC. 16 / 2000 @ 91 / 2002 Parties Uppara Hanumanthapp a & another Vs Asst. LAC No. Civil & Other Cases Case No.Shankar Reddy Pending before Addl. Sandur 210000 Since there was a dispute between the parties. Yarabanahalli Vs The General Manager (A&LA). LAC No. The plaintiff is claiming 100% ex-gratia (i. 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.27 lacs. Rs.Dvn) & CJM.The Trial has Commenced in the court.. Civil Judge (Sr. Bellary who is the Revenue Authority. Civil Judge (Sr.17 crores The matter has been filed by banks seeking various sums from Bellary steel and others. Rudramma. as we have paid the ex-gratia to Shri. Bellary Steels & Alloys Ltd Vs IT Dept. K. JVSL is one of the respondents Debt Recvery Tribunal. Bangalore 3006000+ interest High Court of Karnataka for hearing Reopening of Assessment by the Department 2. 2.105 - .Dvn) & CJM.Nos. Bellary.e.R.

Information Memorandum Civil Suit No. The Claimant was required to supply certain quantity of limestone to JVSL under a contract. Bellary Amount Involved (Rs.311.45 (for dispatch earned & interest) and $ 118.P. Toranagallu 361 D(p).P.450 (for cost and interest for demurrage) and claiming Rs. NO. G. Bellary has initiated criminal . 2. Due to the variance in the size of the limestone. Sanna Thimmana Gouda Amt. the calcinations process in the lime calcinations plant was not to expected level. JVSL London Court of International Arbitration for filing Pleadings Demurrage Charges $ 57. The Plaintiff has filed this suit for a declaration by the court that they are the rightful owners of some shares of a banking company and that any transfers thereof were null and void. The Plaintiff thereafter withdrew the suit in 1999. Other Ex-gratia matters/cases List of ex-land owners to whom the payment of ex-gratia is to be made.) -- David James & Sons Vs. 3352 / 2002 JVSL Vs Dy.106 - . Case No. On receipt of the consignments. JVSL Calcutta High Court for reinstatement of the suit earlier withdrawn Shares 5. 365 E Kurekuppa Criminal Cases Sr.family dispute not received. S. The Claimant has filed this matter for the demurrage for the delivery of the limestone at the Goa Port.17 crores The High Court has granted stay against the notice of the IT Dept. 1. Village Vaddu Name of the Ex-land owner Dodda Thimmana Gouda.. & Ors. 538 of 1999. 1880 of 2000 Mewar Growth Ltd.90 crores (approx.Devanna 34800Ex-gratia to be paid by the co. 8350Ex-gratia to be paid Claimant expired.family dispute not received.P. the limestone was found to be of a different size than the one desired by JVSL. No. S.. Remarks 323 C / 1 Kurekuppa Chikka Basappa. No. 7B(p). The Plaintiff has in 2002 made an application for reinstatement of the suit. Vs. 60000Ex-gratia to be paid by the co. K. Parties Pending Before High Court of Karnataka. Bangalore Subject M at t er Corex Accident W. No.A. 1 C(p).) Nil Facts The Dy.

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

04.00 Pending before the Supreme Court of India.5. Customs & Excise (Down Stream SBU): The status of various show cause notices / demands.37 The Tribunal has already stayed the order passed by the lower authority.4.740. 7. The final hearing was held on 04. our Stay-cumappeal has been filed before the CESTAT. Bangalore.00 Based on the order passed by the Commissioner (Appeals). 23. Input credit pellets.18 4. The final hearing is scheduled on 19. PH is awaited. material in nature. VIII & IX: awaited Order is SCN-X not yet issued by the dept.40 The Tribunal has already stayed the order passed by the lower authority. Order is awaited. The Tribunal has already stayed the order passed by the lower authority. issued by the Central Excise and Customs Authorities : . The final hearing will be held on 27.Information Memorandum 1. Met-coke import: CG given for Anti Dumping Duty (ADD) 908. Duty on interest free advance of Rs. • • • • • SCN-I : Order is awaited SCN-IV: Order is awaited SCNs-V & VI: Final hearing is scheduled on 20. 6.99 Appeals pending before the CESTAT / Commissioner (Appeals). Demand of additional interest charges on warehoused goods 9.05. The final hearing is scheduled on 11.90 The Tribunal has already stayed the order passed by the lower authority.108 - . PH is awaited in May’05.05.00 5. Final reply submitted. Chennai Customs: Rs.05. on Highgrade 47. 4851.05. Bangalore. Response is awaited from Chennai Customs. 10. DRI Case – II – Demand of additional customs duty on warehoused goods. The Tribunal has already stayed the order passed by the lower authority. The final hearing is scheduled on 19. Demand of duty on refractories and lock hoppers of Corex-I. 4920. 2. Show cause notices for demand of excise duty on sale of Corex gas supply to JTPCL / JPOCL.363.00 Appeal before the High Court of Karnataka has been filed. 104.05. Levy of differential duty on scrap: Goa Customs: Lakhs Rs.150 Crore received by JVSL from JISCO.05 SCNs-VII. Input credit on Corex chilling: 62.5.5.00 1103.04.00 Lakhs 8. 3.

4. 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 0.00 Appeal pending for hearing before the Commissioner (Appeals).04 under Special Entry Tax Act-2004. 3.10.23 Reply to show cause notice filed – Nothing further has been heard.03. 6. No. Sales tax liability on account of nonsubmission of Form F in respect of branch transfer. 85.2005.89 Appeal pending for hearing before the Appellate Tribunal. Imposition of penalty under Rule 209A of the Central Excise Rules.) 1.30 lacs have been debited under protest. (Rs in Lakhs) Status 1.23 Appeal pending for hearing before the Assistant Commissioner of Sales-tax (Appeals).269 lacs (approx) is provided on account of new levy imposed by Karnataka Government w. 01. Details Amt.e. contingent liability of Rs.79 Amount debited under protest. for which the Company obtained stay from the High Court of Karnataka. Income Tax (Up Stream SBU): . Appeal pending for hearing before Tribunal. 18.36 Reply to show cause notice filed – Pending for hearing before the jurisdictional commissioner. on account of not furnishing Form C and Form F. 1. Description Amt. Comm.00 Appeal pending for final hearing before the Appellate Tribunal. 47. of CST Vs JVSL There are no cases pending in respect of Sales tax & Entry tax for the period ended 31.75 Reply to show cause notice filed – Pending for hearing.f. 10. 1944 Sales Tax & Entry Tax (Upstream SBU): Parties Pending Before Commercial Tax Authority Subject of the Matter Late submission of Form "C" and Form "F" with the Department Amount Facts Involved (Rs.20. 7.78 lacs A demand was raised by the CST Dept. 2. (Rs in Lakhs) Status 1. 5.Information Memorandum Sl.89 Rs.109 - . 50. 0. Appeal pending for hearing before the Appellate Tribunal. Withdrawal of DEPB Benefit on account of difference between the declaration in shipping bill and physical examination of goods. Sales Tax (Down Stream SBU): Sr. 2. No. The Forms have now been submitted and a revised order is expected. Further. Disallowance of Cenvat credit availed in respect of furnace oil used in captive power generation.

is in respect of usance interest paid through ICICI on usance LC. unutilised modvat credit. 3. 134. The Tribunal has allowed. interest receivable written-off. 2 Appeal to Karnataka High Court against order of Income Tax Appellate Tribunal for Assessment Year 1995-96. reduction of depreciation as per Income-tax on slump sale.775 Income Tax (Down Stream SBU): Sl. Details Value in Rs.618 The demand made by Dept. 2.97. Additions / Disallowances made in the assessment orders passed u/s 143(3) to Normal Income in respect of Surplus on repurchase of own debentures. 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. The High Court may not frame a question for reference.99. amount transferred to lease equalisation. provision for diminution in value of investments etc.110 - . Penalty levied u/s 271(1)(c) in respect of addition made in the assessment order passed u/s 143(3). interest & other expenses capitalised in books. Total 1891. 201(1A) for demand of withholding tax on usance interest received from income tax department 6. No. Status .w. (Rs in Lakhs) Status 1. 10. No. Payment made other Bank called by Dept. Description Amt. 10. Company appeal for assessment of interest under the head Business Income as against Other Sources.s. Notice of penalty u/s 202(1) r.41 Appeal being filed before the Commissioner of Income-tax (Appeals). No.Information Memorandum Sr. Addition made to net wealth on the basis of the insured value of Air-craft as per order passed u/s 16(3) of Wealth-tax Act.96 Appeal being filed before the Commissioner of Income-tax (Appeals) 2036. JVSL has replied penalty notice denying the liability relying on High court and Tribunal decisions. interest disallowed u/s 14A and additions made to Book Profit in respect of provision for doubtful debts and advances.79 Service Tax (Up Stream SBU): Sr.50. as there is no question of law is involved. based on facts. Status 1.42 Appeals pending for hearing before the Commissioner of Income-tax (Appeals) / Appellate Tribunal. Description Usance Interest in Rs.

37.34 lacs. VAI. (16) Jindal Steel & Alloys Limited Outstanding Litigations: Excise Matters Dispute on demand of duty on Interest charged in Invoice raised by JISCO: Rs 21. 758. the hearing is completed on 24. The Customs Dept issued a show a show cause notice upon JSAL stating that the benefit of the notification was not available . In the case of Alsthom Power.111 - .2005 at C. Penalty of Rs.Ex. Service Tax Authorities have demanded service tax on consultancy services rendered by foreign parties namely. 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.2005 at Mangalore and order is expected. 7. The remaining eight notices have already been decided in favour of JVSL.81.Rs 2.21 Lacs plus penalty of Rs 37 lacs. Custom Matters Custom Duty – Custom dept.Information Memorandum 1.19 lacs imposed by the Custom Authorities in FY 1997-98 for wrong removal of imported equipments from the bonded warehouse. Mangalore in respect of VAI & Amet.. 1. : JSAL supplied some steel strips to some companies for further export..975261) and Alsthom Power. Bank Guarantee provided to Excise Dept .42. Based on the orders passed by the AC. 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. Penalty imposed by SEBI/Other Regulatory bodies • • • Fine and penalty of Rs.27 lacs levied by BSE in FY 1998-99 for belated intimation of Book Closure dates.2089786) during implementation of the project. the final assessment is still pending. Penalty of Rs.Ex.71216321).368 Replies to the notices have been submitted by the advocates on behalf of foreign parties. Show cause notice has been received for duty demand on Interest charged in Invoice raised.4A and declared that it has not avoided input stage credit. has given show cause notice for payment of duty of Rs. The hearing has been completed on 17. 500 by Excise Authorities in FY 2003-04 for wrong claim of CENVAT. For provisional assessment of consignment sales made. Bellary and the order is expected at any time. Austria (Rs.1. JSAL removed goods under Form AR. Russia (Rs. USA (Rs.50 lacs.. Bellary appeals have been filed before the Commissioner (Appeals). JSAL imported the consignment duty free under a notification. C. Amet Ltd. The Final hearing is awaited.1.

1. Rs 440000 has been deposited on 5/10/2004. As against the demand for customs duty of Rs.36. the same has been reflected as a contingent liability.19.07. An amount equal to 10% i.e. The Company has replied to the show cause notice and has also represented at the time of hearing.000.557 Special Additional Duty: Rs. 2001-02.65.Information Memorandum and demanded the payment of duty along with penalty. the duty amount of Rs. 3.19. Civil Matters . which has already been filed. 4.05.340 and penalty and fines of Rs.944 and has claimed refund of the amount on the ground that duty is not payable on the drawing portion of the goods kept under bonded warehouse and has accordingly not paid any interest. 2004. If the bill of entry. Sanjay Sharma who was sacked for irregularities in his workings has filled a suit against the Company for his reinstatement as an employee. Litigation. due to non-receipt of official order. the Company has filed an Appeal against the Assessement Order. which may become due to the Company. 0.944 and interest of Rs.112 - . 31. The matter is pending before the Divisional Office of Central Excise. . A stay application has been filled by JSAL against the show cause notice.36.65. The outstanding amounts have since been paid and with this the above show cause notice has been settled. which has been filed being rejected. 35.46.65. (17) Southern Iron And Steel Company Limited (SISCOL) As on December 31.07. is accepted. A sum of Rs.945 which has already been paid will also be refundable. 67.60 lacs An ex. The Company has subsequently received an adjudication order from the Commissioner of Customs demanding interest 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.093 from the Customs Department.Rs. Other litigations The Special Director Enforcement has imposed a penalty of Rs.07. Income Tax Matters Rs. 1352972 was paid to the Income Tax Department on basis of Assessement completed for A. Disputes etc. 3.82. 4. 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. the Company has paid the entire duty amount of Rs.Y. However. However.employee Mr.68. 3.00.44 Lacs for non-production of documentary evidence showing import of goods against remittance of Rs 4467512 under Sec 8(3) of FEMA. ii. 67. no credit has been taken for this refund.311 Differential duty: Rs. the Company had the following contingent liabilities: i.

25. the Madras High Court permitted the Company to pay peak hour charges of Rs. TWADB stating that the royalty charges have been revised to Rs. Ltd and M/s Simplex Engineering. 3 lacs per annum.199 (without the surcharge) in twenty (20) equal installments.199 (inclusive of belated payment surcharge of Rs.89.113 - . The Company is in the process of filing an affidavit. A winding up petition under Section 433 and 434 of the Companies Act.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. The Company as gone on appeal before the Division Bench of the Madras High Court. 2004 has demanded a payment of Rs1.57. However. the Company had to register its captive power plant with the Registering Authority (Electrical Inspectorate) and was also required to pay 10 paise tax per unit with effect from June 16. 3 lacs per annum and the matter is pending.05.30. 54. The Company is representing to TWADB for charging the originally agreed royalty of Rs.35. 1956 has been filed in the Madras High Court for default in payment of Rs. Tamilnadu Electricity Board by a demand notice dated October 11.e. The final hearing is awaited.900 has been made in the accounts for the increase in the charges.77. 1. Government of Tamilnadu for Rs. 31.734. 16. Madras High Court has dismissed the Writ Petitions.90. the Company has made a provision of Rs.30. 76. 2.054. the Company has obtained an interim injunction restraining the Tamilnadu Government from the levy of tax on sale of electricity for High Tension service connection and consumption for own use out of generator. By an order dated November 02. 11. a provision of Rs. . the Judgment Debtors in the Trichirapalli District Court. 2004 towards payment of these dues.92 plus interest against two companies viz.Information Memorandum The Company had received a letter dated January 24. The Company received a letter dated October 15. The Company filed a writ petition challenging the provision of The Tamil Nadu Electricity (Taxation on Consumption) Act.549 lacs per annum effective from 1993. Mettur Dam for payment of outstanding dues of Electricity Tax for the period February 2002 to December 2003. the Company also requested that it be allowed to pay the peak hour charges 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. OS700/96 to the tune of Rs.00. i.35.000 to M/s Simplex Engineering. 1998 from Executive Engineer.221 in its books of accounts. 2. Further. The Company had filed Writs Petitions in the Madras High Court challenging the levy of belated payment surcharge of Rs.30. in another case (OS No.00. 1. The Company has made provisions of Rs. A demand has been made on the Company by the Public Works department.95 crores in its books of accounts till December 31.77. However. 3.03. Mettur Electricity District Circle. Indo Fab has taken out garnishee order/attachment order in case no.00.099) being arrears of peak hour charges for the period July 2003 up to August 2004. Indo Fab. Pending final hearing of the writ petition. M/s Eastern Metallurgical Equipments Pvt. 94.35. The Company is in negotiations with the Public Works department to reach a settlement. 2003.89. The Company has filed an affidavit disputing the claim in the before the Court (case no.099. 16. Writ petitions had been filed by the Company against the Tamilnadu Electricity Board in the Madras High Court contesting the levy of Electricity Tax. 1. 697/1996) have obtained a decree and have applied to the court for garnishee order to the extent of Rs.05. CP no. As the Company owed Rs.As per the said Act and the rules framed thereunder. 2003 on power generated by generator or the captive power plant.844 in the execution application filed against M/s Simplex Engineering. M/s Indo Fab Engineering ("Indo Fab") have obtained a decree of Rs. 204 of 2004).199 in ten (10) equal installments and granted an order of interim stay in respect of the demand of surcharge. 2004. 2004 from the Superintendent Engineer.000.77.

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

Industrial Finance Branch to WCSPL advising that the letter from WCSPL requesting removal of above name has been forwarded to ITCOT Ltd.550 which was due on March 31.115 - . WCSPL filed Form 32 on November 25. Chennai and has appeared before the court as a nominee director of Indian Natural Medical Products Ltd.03. 6 Nil The defaults in servicing in accordance with above terms are given below.300 being the first installment of redemption due on May 17.56.130) has not been serviced by the Company.12.10.40 per debenture on 30. 2005 May 17. Jain from the list. For the period 01. CC 802/02 Hg dated August 29. 1.710) and December 31.e. Subsequently.2004 • • Interest for the delayed payment calculated at the same rate of 15% to be paid on 31.2003 and Rs. 2004 was also sent by WCSPL to SBI.10. 5. 2004 (Rs. 6 Rs. 7. 2004 was sent by SBI. October 30. A letter dated October 29. Saidapet.70.09. Jain’s name is mentioned in the RBI list for willful default of Rs.83. 2004 Interest • Interest for the period from 01. 10. He is yet to be served with a copy of charge memo for the same.52. P. 25 lacs and above. N. 2002 and has not been associated with the company since then.f.52. Copy of this letter was also sent to RBI. 1.2003 onwards. 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. 6 Rs. 2007 May 17. (Industrial Technical Consultancy Organisation of Tamilnadu Limited) (C) Associate Companies (1) South West Port Limited (SWPL) .2005. 83.56. 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. 2006 May 17.40 per debenture on 31.80 per debenture to be paid in two installments as under: Rs.57. An amount of Rs. 12 Rs.2003 totaling Rs. advising that Mr.09.31.62. Shanmugasundaram has received summon no. In this regard. 2008 Amount payable per debenture for redemption Rs. 4. September 30. in respect of West Coast Saw Pipes Limited (WCSPL). 2002 with Registrar of Companies. 2001 May 17. K. Maharashtra for intimating the change in directors. 2000 for debentures issued by the Company has not been paid for want of surrender of debenture certificates for endorsement by the debenture holders.2000 to 30. 18 Rs. 2002 from IX Metropolitan Magistrate Court. 5. 6 Rs. 2002 May 17. 2004 (Rs.Information Memorandum Principal Original due date May 17. However. 6 Reduced principal Rs. 2003 May 17. Defaults in Servicing Debenture interest aggregating Rs.710). Jain had resigned as a director from the board of WCSPL w. Rescheduled due date May 17. Mr. Mr. a letter dated October 25. 2004 (Rs. Industrial Finance Branch forwarding the acknowledgement of form 32 filed with the Registrar of Companies for the resignation. Litigation against Directors of SISCOL Mr.

a. 1.Information Memorandum Contingent liabilities not provided for relates to claims made by a dredging contractor.96 270.80 crores Venting of Gases has been treated by the Dept. No.30 6902.00 % p. the Evidence dredging work stage carried out at Ltd. Outstanding Litigation Sr. Parties Pending Before Subject of the Matter Jaisu Shipping Arbitration at Claims for the Company Pvt. Moreover. the Marmagoa Port Versus South West Port Ltd. Amount Involved (Rs. No. Excise Vs.116 - . Particulars Bank Guarantees Excise Duty matters disputed by the company Claims against the company not acknowledged as debt (Rs. 2003 were: Sr. Venting of Liquid Products has been treated by the Dept. Of Excise Vs. JPOCL Of CESTAT Claim Duty of 12. 155.) 3.47 crores Facts SWPL is disputing the claim. 3. Case No.) Facts 8 Appeals Comm. SWPL has also filed a Counter Claim of Rs. in lacs) Amount 111. JPOCL CESTAT Claim of Duty 7.00 Outstanding Litigation Cases filed by the Excise Department Sr. as despatch and levied duty upon the same. Parties Pending Before Subject of the Matter Amount Involved (Rs.88 crores 2. 8 Appeals Comm.75 lacs. 3. as the Claimant had not dredged the entire lagoon area stipulated under the contract. 2. No. currently pending before arbitration. as despatch and levied duty upon . the work had also not been completed within time.93 crores for delay and loss of profits due to a 45 days overrun along with interest @ 12. 1. 1. (2) Jindal Praxair Oxygen Company Private Limited (JPOCL) Contingent Liabilities not provided as on March 31. to the extent the company does not expect any determination of liability in respect thereof amounting to Rs.

JPOCL CESTAT Claim of Duty 1. Comm. Of Excise (A) Duty on Infrastructure Services Duty on Infrastructure Services Service Tax 1.98 lacs Duty reimbursement expenses on of 2.22 lacs 1. JPOCL Comm.48 lacs 2 cases JPOCL Vs. Of Excise JPOCL Vs.77 lacs 11. 1 case 7. Of Excise Vs. Of Excise Comm. Technical Services and Field Service Agreements. Of Excise (A) Claim of Duty 90. Comm. Of Excise Comm. Of Excise Vs. Venting of Liquid Products has been treated by the Dept. JPOCL CESTAT Asst. 1 case Comm. JPOCL Comm. No. Of Excise Asst. Of Central Excise (Appeals) Asst.51 crores 116 of 2002 JPOCL Vs. Of Excise Vs. Denial of MODVAT credit 2.) Facts 4 cases JPOCL Vs. Parties Pending Before Subject of the Matter Amount Involved (Rs. Denial of MODVAT availed by JPOCL on the Capital Goods (SS Plates and 25% on project imports. Comm. Comm..16 lacs Cases filed by JPOCL against the Excise Department Case No. Of Excise (A) and Asst. Comm. Claim of Duty 60. Comm. Venting of Liquid Products has been . Duty on Infrastructu re Services Duty on MTOP Duty on IT Reimburse ment 8. JPOCL Comm. Of Excise Vs. 2 cases 6. Asst. Denial of MODVAT availed by JPOCL on the Capital Goods. Of Excise Vs. Comm. Comm.117 - .74 crores Duty on reimbursement of expenses Duty on reimbursement of expenses Service Tax payable on Engineering Services of Praxair Inc. Claim of Duty 1. Comm.22 lacs 55. 4 cases CESTAT Claim of Duty on Captive Consumption 51. LOX Consumption Captive 4. Comm. Of Excise Comm.74 lacs 2 cases JPOCL Vs. as despatch and levied duty upon the same. Denial of MODVAT availed by JPOCL on the Capital Goods to the extent of 25% on project imports.93 lacs 5. 2 Appeals Comm.06 crores 10 Appeals JPOCL Vs. Comm.Information Memorandum Sr. Parties Pending Before Subject of the Matter Amount Involved (Rs. Comm. Comm. Comm. Of Asst. Of Excise JPOCL Vs. Case No.) Facts 3.87 crores the same.

WCSPL filed requisite Form 32 with Registrar of Companies. N. 2002 and October 30. 2002 respectively and has not been associated with the company since then. K. Against subsidiaries of JSWHL JSWHL has no subsidiary company/ies.Information Memorandum 3 Appeals Excise (Provisional Assessment) JPOCL Vs. . Comm. 2004 was sent by SBI. Of Excise Commissioner of Excise (A) Claim of Duty 5.f. A letter dated October 29.118 - . Jain’s name are mentioned in the RBI list for willful default of Rs. Industrial Finance Branch forwarding the acknowledgement of form 32 filed with the Registrar of Companies for the resignation. K. Mr. Subsequently. Sajjan Jindal and Mr. letters dated October 25. as despatch and levied duty upon the same. K. in respect of West Coast Saw Pipes Limited (WCSPL). Copies of these letters were also sent to RBI. In this regard. Maharashtra for intimating the change in directors. (Industrial Technical Consultancy Organisation of Tamilnadu Limited). Industrial Finance Branch to WCSPL advising that the letter from WCSPL requesting removal of above name has been forwarded to ITCOT Ltd.e. as despatch and levied duty upon the same. Mr. Jain had resigned as director from the board of WCSPL w. Against Directors of JSWHL There are no pending litigation/default against directors of JSWHL except mentioned below. Jain were not promoter directors on WCSPL and requesting SBI to inform RBI to update their list of defaulters by removing name of Mr. K. advising that Mr. N.21 crores treated by the Dept. Venting of Gases has been treated by the Dept. Jain from the list. Sajjan Jindal and Mr. Sajjan Jindal and N. 25 lacs and above. June 28. 2004 were also sent by WCSPL to SBI. Sajjan Jindal and Mr. However. N.

.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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The Company has not declared dividends during any financial years covered in this report. approved by the Company and annexed to this report.Information Memorandum 2. Chartered Accountants Vipul K. they have been correctly computed from the figures stated in the Statement of Assets and Liabilities and Profit and Loss as referred above. the Statement of Capitalisation as set out in Annexure VI which has been prepared based on audited information.123 - .7(h) of the Guidelines have not been disclosed.7 (i) of the Guidelines is given in note 7 of Annexure IV.2. 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. 4. 2005.10.2. 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 summary of significant accounting policies adopted by the Company is enclosed as Annexure III to this report. For Shah Gupta & Co. Disclosure of the Tax Shelter Statement as required by paragraph 6. The Company has not taken unsecured loan. Hence the information regarding analysis of outstanding unsecured loans in accordance with the paragraph 6. We report that in our opinion. 37606 Place : Mumbai Date : 28th April 2005 . 5.10. 7. Choksi Partner M. 3. 6. No. The Notes to the Statement of “Assets & Liabilities” and ‘Profit & Loss Account’ are enclosed as Annexure IV.

19 1.91 1.10 each for every 4 equity shares held by them in JISCO (erstwhile).10) 10.1099.96 Lacs on account of allotment of Equity shares on 16th March.04 B C D 4. Share Capital (see note) 2.23 0.791.217.64) 9.00 (0.85 9.08 2.96 52.59 0.57 0. Loans and Advances: Inventories Sundry Debtors Cash & Bank Balances Loans & Advances Other Current Assets Liabilities and Provisions: Secured Loans Unsecured Loans Current Liabilities and provisions Year ended March. .43 13.78 0. 2005 to Shareholders of JISCO (erstwhile) in the ratio of 1 equity share of Rs.30 F G Net worth Represented by 1.43 0.29 14.22 6.20 1.02 4.12 0.70) 4.23) (3.32 4.121.29 53. 31.28 1.12 9.74) 53.00 0. 2003 2004 Rupees in Lacs 8.10) 344.00 (4.135.32 0.06 (13.35 6.43 (3.28 2005 for 6.02 0.06 52.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 . Reserves Less Revaluation Reserve Reserves (Net of Revaluation Reserves) Less: Misc.121.124 - .088.23 (0.13 10.59 10.87) (4.30 5.52 0.87) (8.98 14.217. Expenditure Networth Note: Share Capital includes an amount of Rs.05 13.28 8.109.net Current Assets.35 43.28 E 0.

33 0.21 0.33 5.005 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 .34 0.18 0.09) 560.Information Memorandum Annexure II STATEMENT OF PROFITS AND LOSSESS 2002 Year ended March.34 12.50 0.71 36.09) (5.15 0.66 .42 560.90 532.76 4.42 5.65 1.21 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.22 27.50 0.66 560.23 0.48 - - 0.125 - .66 15. Break up of other income is : Dividend Interest Consultancy Fees Profit on sale of Investments - 0.50 0.50 0.29 0.42 (5. 31.06 0.33 504.37 529. 2003 2004 Rupees in Lacs 2.53 19.

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

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

The difference of Rs. the Company has issued 10. c Rupees Investments & Loans & Advances Less : Amount of Equity shares issued to the shareholders erstwhile JISCO Excess Credited to General Reserve of 5. 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.250 5. Pursuant to the Scheme of Arrangement and Amalgamation (Scheme) sanctioned by Hon’ble High Courts of Bombay and Karnataka on 3rd September.923.265. which is allowed as per Accounting Standard (AS) 14 “Accounting for Amalgamations” issued by the Institute of Chartered Accountant of India.510 545. 2005 respectively. 2004 & 20th January. Accordingly.493 109.749. referred to as Investment division has been transferred to the Company with effect from 1-4-2003 (Appointed date).10 each to the Shareholders of JISCO (erstwhile) in the ratio of 1 equity share of Rs.128 - . as disclosed in Schedule B.10 each for every 4 equity shares held by them in JISCO (erstwhile). Rupees Add : Income of Investment division of erstwhile JISCO Less : Expenses of Investment division of erstwhile JISCO Less : Provision for Tax – AY 2004-05 5.155. b Pursuant to the Scheme. JISCO (erstwhile) had carried the Investment division in “trust” on behalf of the Company. along with certain loans & advances.5. The Scheme has accordingly been accounted in these financial statements with effect from appointed date under “purchase method” of accounting as prescribed by Accounting Standard (AS 14 “Accounting for Amalgamations” issued by the Institute of Chartered Accountants of India.243 between the amount of Share Capital issued by the Company and the value of assets transferred from JISCO (erstwhile) has been credited to General Reserve of the Company as at 1st April. a.000 3. 2003 in accordance with the Scheme.243 The aforesaid difference has been credited to General Reserve as per the ‘Scheme’ approved by Hon’ble High Courts of Bombay and Karnataka.996. d From 1st April.334 865.824 .155.Information Memorandum Annexure IV NOTES ON FINANCIAL STATEMENTS 1.625 fully paid up equity shares of Rs.753. the Investment Portfolio of Jindal Iron & Steel Co. The Company has incorporated investments and Loans & Advances at fair value as determined by the valuer. 2003.753.999. Ltd (JISCO)(erstwhile).334.

03. The Company is in the process of completing necessary formalities for registration.Information Memorandum e In view of aforesaid Scheme with effect from 1st April. Remuneration to the Auditors: 2004-2005 Rupees Audit Fees Tax Audit Other services Out of pocket expenses (including Service Tax) 6.as at 31st March 2004 against General Reserve and (ii) Recorded Deferred Tax Assets of Rs. Net Deferred Tax Assets comprises: the 27.713 2003-2004 Rupees 3780 - 5. Current Assets. Hence. 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.37. These activities mainly have similar risks and returns. the Company has: (i) Adjusted net Deferred Tax Liability of Rs.020 36. at least equal to the amount at which they are stated. 4. Loans and Advances have a value on realization in the ordinary course of business. the Company’s primary business segment is Investing & Financing.408/. 33. issued by the Institute of Chartered Accountants of India.499 . 1993. As company’s business activities falls within a single primary business segment the disclosure requirements of AS-17 in this regard are not applicable. Deferred Tax Liability : As at 31. In the opinion of the Board. 2.101/.17 ‘Segment Reporting’.129 - . the figures of the current year are not comparable with those of the previous year. 2003 (Appointed date) the Balance Sheet as at 31st March. 7. Segment Reporting Based on guiding principles given in Accounting Standard . 3. 2005 include the figures of JISCO (erstwhile) from the said date. 1.for the current year. In compliance with the Accounting Standard 22 (AS 22) relating to “Accounting for Taxes on Income” issued by the Institute of Chartered Accountants of India.550 11. 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. 1934. The Company has become a Non Banking Finance Company (NBFC) as per Reserve Bank of India Act. 2005 and the profit and Loss Account and Cash Flow Statement for the year ended 31st March. 1961 88.2005 Rupees (a) Expenses covered by Section 35 D of the Income Tax Act.

Related party relationship is as identified by the management and relied upon by the auditors. 2.337 8. .145 (a) Expenses covered by section 35 DD of the Income Tax Act. Sun Investments Pvt.167. 1961 2. Ltd. Computation of Basic and Diluted Earnings per share: 381. Details relating to investments in the above related parties have been disclosed in Schedule C "Investments". 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.922 Nil Nil Previous Year Referred to in (a) (i) above (Rupees) Nil 1. (b) Related party Transactions: Current Year Referred to In (a)(ii) above (Rupees) Sale of goods/services Loans/Advances given Loans/Advances taken Dividend Received Nil Nil Nil 48.130 - .000.000 18.629. “Related Party Disclosures”.900 9.000.Information Memorandum (b) Depreciation Deferred Tax Assets : 23. as required by Accounting Standard 18.000 Nil c) Outstanding Balances as at 31st March 2005 Current Year Referred to in (a) (i) above (Rupees) Loan/Advance Given Loan /Advance Taken Sundry Debtors Notes: 1.500 Nil 1.983 Previous Year Referred to In (a)(ii) above (Rupees) 17. Related Party Disclosures.15.

099.) 10.09) Profit (loss) after Tax (As per Profit and Loss Account) Total Number of shares Earnings Per Share (Basic and Diluted) (Face Value – Rs. The additional Information pursuant to Part II of Schedule VI to the Companies Act. Current year’s figures include the figures of investment business of JISCO (erstwhile) and hence. 11.000 (5.948. not comparable with that of previous year. 1956 are either Nil or Not Applicable.204) 100. .618 11. 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.per share) (Rs. Previous year figures have been regrouped/ rearranged wherever necessary to confirm with current year’s presentation.625 4. 10/.131 - .Information Memorandum Particulars 2004-2005 Rupees 52. There are no internal or external indications existing on the Balance Sheet date indicating that an asset is impaired.77 2003-2004 Rupees (509. 12.

728.473 100.948.625 4.618 (309.204) 52.Information Memorandum Annexure V Accounting Ratios 2002 1 Earning Per Share For the year Ended on March.000 (3.204) 100.000 (5.321.000 22.000 9.36 (309.264 RONW 3 Net Asset Value (a)*100/(b) 0 2.09) 52.000 10 936.473 (509.205) 5.099.77 Net Profit after Tax Net Worth (a) (b) 500.000 0 22.422 - 0.132 - .23 (509.684 936.618 11.948.000 0.45 . 31 2003 2004 2005 Net Profit after Tax No.264 100.000 50.321.625 479.995 Net Assets No.205) 5.09) 11.684 100. of Shares NAV (a) (b) (a)/(b) 500.728.099. of Shares EPS 2 Return on Net Worth (a) (b) (a)/(b) 50.

06 - NOTE: Since there are no Long Term and short term Debt.133 - .13 1. total Debt / Networth and Debt/ Equity ratio is not applicable.110.00 (4.231.06 53.00 52.87) 5. .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 10.121.

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

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

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.136 - . A retiring Director shall be eligible for re-election. 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. 138. in addition to his fee for attending such meeting as above specified. 136. Indemnity And Responsibility 194. with the sanction of a Special Resolution. but subject to the rights attached to any preference share capital. Winding up 193. insolvency or tortious act of any person with whom any moneys. Subject to provisions of Section 201 of the Act no Director. and if any Director be called upon to go or reside out of the ordinary place of his residence on the Company’s business. increase or reduce the number of Directors. 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. 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. The Board may allow and pay to any Director. 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. Subject to Section 259 of the Act. lodging and other expenses. boarding. he shall be entitled to be repaid and reimbursed any traveling or other expenses incurred in connection with the business of the Company. such sum as the Board may consider fair compensation or for traveling.Information Memorandum 124. The liquidator on any winding-up (whether voluntary. or effects shall be deposited or for any loss occasioned by an error of judgement or oversight on his part. 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. receipts. Subject to Section 258 and 261 of the Act the Company at the General Meeting at which a Director retires in manner aforesaid may fill up the vacated office by electing a person thereto. the Company may by Ordinary Resolution. or for any other loss. 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. 135. Manager or other Officer of the Company shall be liable for the act. securities. under supervision or compulsory) may. 195. . and may alter their qualifications and the Company may (subject to the provisions of Section 284 of the Act) remove any Director before the expiration of his period of office and appoint another qualified person in his stead. from time to time. divide among the contributories in specie any of the assets of the Company and may with the like sanction.

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

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

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

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