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-

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

3. subject to applicable regulations.3. Jindal South West Holdings Limited (“JSWHL”). Deshmukh Marg.1 (iv) – (viii). G. The aforesaid Order of the Honourable High Court of Judicature at Bombay was filed by JSWHL with the Registrar of Companies (“ROC”). N. the Appointed Date under the Scheme). vide its letter no. 2005 respectively. or deed. K. 8. Shailesh Haribhakti Authority for Listing The Honourable High Courts of Judicature at Bombay and of Karnataka vide their Orders dated September 3. N. NSE and DSE for such issues and also subject to such other terms and conditions as may be prescribed by BSE. 2003 (i. 2005 has granted relaxation from the applicability of Rule 19(2)(b) of the Securities Contract Regulation (Rules). Chairman Mr. Maharashtra. Mumbai (“BSE”). Managing Director & CEO Mr. 1956.e. Subsequently. Such listing and admission for trading is not automatic and will be subject to fulfillment by JSWHL of listing criteria of BSE.e. 100. Maharashtra. if any w. In accordance with the said Scheme. CFD/DIL/SR/38545/2005 dated April 15. K. Jain Dr. pursuant to the provisions of Section 391-394 of the Companies Act. NSE and DSE at the time of the application by JSWHL seeking listing. Gupta Mr. title and interest of JISCO therein. 2004 and January 20. without any further act. which is the Effective Date of the Scheme. Mumbai – 400 002. Registration No. Mumbai. Mumbai on February 4. Marine Drive. subject to subsisting of charges and pledges.3.Information Memorandum GENERAL INFORMATION Name & Registered office of the Company Jindal South West Holdings Limited Jindal Mansion. Sajjan Jindal. Mumbai – 400 026.f. Patel. above relaxation is also subject to JSWHL confirming the following: - -5- . 2000.3 and 8. Mumbai on November 22.4 of SEBI (DIP) Guidelines. be listed and admitted to trading on The Stock Exchange. Board of Directors 1) 2) 3) 4) 5) 6) Mr. 5A – Dr. Further. Maharashtra. 2005.5.5. the Equity Shares of JSWHL issued pursuant to the Scheme as well as existing shares of JSWHL issued for the purpose of incorporation shall. instrument. Jindal Vijayanagar Steel Limited (“JVSL”) and their respective members and creditors (the “Scheme”) whereby the Investment Division of JISCO. the National Stock Exchange of India Limited (“NSE”) and The Delhi Stock Exchange Association Limited (“DSE”). have approved the Scheme of Arrangement & Amalgamation between Jindal Iron & Steel Company Limited (“JISCO”). Everest. Jt. K. 1957 (SCRR) subject to JSWHL complying with the provisions of Clauses 8. 1st April.5. stands transferred to and vested in JSWHL so as to vest in the JSWHL all the rights. 2004 and the Order of the Honourable High Court of Karnataka was filed by JSWHL with the ROC. 11-132705 – registered with : The Registrar of Companies. S. SEBI. Atul Desai Mr.

2000 excludes the following: i) Promoters and persons acting in concert of pre-arrangement listed transferor company.4 of SEBI (DIP) Guidelines. The company has filed applications with BSE for listing of above Equity Shares.3. NSE and DSE for making the said Information Memorandum available to public through their websites. namely. Prohibition by SEBI The Company. containing information about itself and Group Companies to BSE. Jindal South West Holdings Limited nor its promoters/directors are debarred by SEBI from accessing the capital market. Jindal Iron & Steel Company Limited as defined in SEBI (Substantial Acquisition of Shares & Takeovers) Regulations. 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 has submitted its Information Memorandum.5. JSWHL has made the said Information Memorandum available on its website. The BSE does not in any manner: warrant. Disclaimer Clause of BSE As required. ii) Any shareholder of pre-scheme unlisted transferee company. Jindal South West Holdings Limited to be with public holders of shares in the pre-arrangement listed transferor company. JSWHL will comply with the aforesaid conditions stipulated by SEBI. or -6- .1 (iii) of SEBI (DIP) Guidelines. JSWHL will publish an advertisement in the newspapers containing its details in line with the details required as per clause 8.Information Memorandum a) For the purpose of satisfying at least 25% of post-scheme paid up capital of unlisted transferee company. namely. 2000 or any other material issued by or at the instance of the Company and anyone placing reliance on any other source of information would be doing so at his or her own risk.4 of SEBI (DIP) Guidelines. namely.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. namely. 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. namely. Jindal South West Holdings Limited b) Neither the unlisted transferee Company.5. its promoters. its directors. Jindal Iron & Steel Company Limited. the “Public Holders” referred in clause 8.3. 1997.5. a copy of this Information Memorandum has been submitted to BSE. or warrant that this Company’s securities will be listed or will continue to be listed on the BSE.

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

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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Vishnu Prakash Garg Mr.11 - . Total 1137043 842049 825751 642400 538137 480699 419584 365332 333403 320500 5622888 1137043 842049 825751 642400 538137 480699 419584 365332 333403 320500 5622888 (b) Sr. Ram Prakash Nangalia Mr. 8) JSWHL presently does not have any intention or proposal to alter its Equity capital structure for a period of six (6) months from the date of listing the shares. Seshagiri Rao M V S Mr. Kantilal Narandas Patel Mr. No. Ltd. Raman Madhok Mr. loans or other instruments into equity shares of JSWHL. No. 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. 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. 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.Information Memorandum 5) The list of top 10 shareholders of JSWHL and the number of Equity Shares held by them: (a) Sr. preferential allotment. options or rights to convert debentures. 7) There will be no further issue of Equity capital whether by way of issue of bonus shares. 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. Nirmal Kumar Jain Mr. Vijay Karayi Total 20000 15000 14300 100 100 100 100 100 100 100 50000 6) As on the date of this Information Memorandum. by way of split/consolidation of the denomination of Equity Shares or further issue of Equity Shares (including issue of securities . Ltd.

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

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

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

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

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

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

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

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

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

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

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

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

Sajjan Jindal.248 504. Garg and Mr. No. He was the Chairman and Managing Director of erstwhile JISCO and the Managing Director of JVSL. Jindal is the director in Jindal Aluminum Limited and South West Port Limited. Promoter’s holding 1 Promoters: Indian Promoters: i Gagan Trading Co. vi Nalwa Investments Ltd. Ltd. He is also the director of Indian Institute of Management. 2005 is as follows: Sr. Mr. Mishra. Subsequent to restructuring. Indore and a member of TTD Development Advisory council and Bombay chapter of the Young President Organization. The board of directors of the company comprises Mr.P. R. Rajinder Parkash.01 1. Consequent to the merger of the two companies. He is also the Chairman of Jindal Thermal Power Company Limited and Twenty-First Century Printers Limited.) Driving License No. Promoter Group Companies and Associate Companies as given below.E.: F 0256563 Mr.24 - . Deepika Jindal. of shares % of shareholding 133. Rakesh Garg. 1975. Ratan Jindal.59 9. He has more than twenty years experience in the industry.53 .83 2. mainly dealing and investing in securities. He was instrumental in setting up JVSL. H. Shareholding Pattern The shareholding pattern as on March 31. The name of the company was changed to Jindal Strips Limited on May 5. Mr. Jindal is the Vice Chairman and Managing Director of the merged entity.Information Memorandum PROMOTERS/PRMOTER GROUP COMPANIES AND ASSOCIATED COMPANIES Educational Qualification: B. aged 46 years.395 2. Ltd. ii Sun Investments Ltd iii Colorado Trading Co.738 112. vii Stainless Investments Ltd. Mr.158 92.20 1. Mrs.: 44304/Hissar Passport No. A. Category No. (Mech.22 4. Mr. (A) Promoter Companies (1) Jindal Strips Limited (JSL) The company was promoted by Late Shri O. 1970 as Jindal Strips Private Limited.V.861 206. Mr. iv Everplus Securities & Finance Ltd v Mansarover Investments Ltd. the company is now a Non Banking Finance Company.G. Jindal and was incorporated on November 18.683 78.80 1. is Chairman of the Company.794 62. The group companies have been classified into the Promoter Companies.

12 1.13 293. b.) 2003-04 5.Ltd xi Jindal Equipment Leas & Con.729 311.01 2. Financial Institutions.25 - .06 2.08 23.00 1.856.65 40% 15.Government Institutions) FIIs.99 253.994 488.687 185 2.279. Ser.66 .02 0. c.361 1.437 0.05) 495.780 186.964 1.00 Financial performance The financial performance of the company (Rs.145 257.35 0.44 (44.163 0.38 100.199 5.565 125.26 12.64 3.08 5.26 81.00 55./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.24 2001-02 18.62 1.46 11.76 9. in crores) is given below: Share capital .35 0.205.07 8.70 60% 5.Equity Reserves and surplus (excluding revaluation reserves) Sales (including Excise duty) Interest and Dividend Income Other Income PAT Dividend (%) EPS (Rs.Information Memorandum 2 B.91 446.74 44.246.00 43.19) (86.136. Institutions / Non.Ltd x Hexa Securities & Finance Co.) BV (Rs. c.61 31.59 778 32.45 6.419 2.63 2.611 54 2.13 249.000 55.393 141. b.565 30. d.23 2. Sub-total (3) Others: Private Corporate Bodies Indian Public i.Ltd xii Saw Pipes Ltd.611 274.923 268.48 6.22 2002-03 5. 3 a.41 1484. viii Manjula Finances Ltd ix Vrindavan Services P. 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. Insurance Companies (Central/ State Govt. 4 a.268 109.51 5.229 120.56 2.07 5.751 312.03 0.

00 282. Particulars of investor complaints during the period April 2004 to March 2005 are as follows: Complaints Received: 540.0001 0.80 330. 1998.10 197.0000 .) 197.10 216.30 244.) 208.00 The market price of shares of the company (as on March 31.90 242. Ratan Jindal Mr.) 210.25 230.00 BSE Low (Rs.00 250.00 360. Madan Lal Gupta. (2) Jindal Holdings Limited The Company was incorporated on February 6.00 218. Mahesh Jain. It is registered with RBI as Non Banking Finance Company and main business is to deal in securities.00 268.0001 0.00 250. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Mr. The company has engaged the services of a Registrar & Transfer Agent to handle the grievances of the investors.00 245. 257.0001 0.0001 0. of Shares 10 10 15 10 10 10 16085755 2414000 18499820 % of shareholding 0. Resolved/Replied: 520 and Pending:20.50 251.15 and the market capitalization was Rs.Information Memorandum Stock Market Data Month September 04 October 04 November 04 December 04 January 05 February 05 March 05 NSE High (Rs.00 252.0001 0.05 222. depending on the type of complaint. Sushil Bhuwalka Jindal Strips Ltd Jindal Steel & Power Ltd Total Financial performance The financial performance of the company (Rs. The average time taken by the company for redressal of complaints varies from 7 to 20 days.9509 13.0001 86.00 294.) 197.00 196.00 292.26 - .00 Low (Rs. 2005) on BSE was Rs.30 284. Mr. Naveen Jindal Mr. 1990 in the State of Maharashtra and thereafter the registered Office of the company was shifted to State of Haryana on November 9. Sajjan Jindal Mr.00 310.60 365. The Board of directors of the company comprises Mr. 132.0488 100.08 crores. Prithviraj Jindal Mr.90 High (Rs. in lacs) is given below: No.90 243. Om Prakash Jindal Mr.00 239. Rajendar Gupta and Mr.

Investments Beaufield Holdings Ltd Templar Investment Ltd. of Shares 1.70) Nil 32. Sharma.28 0.) FY03-04 1849.61 12.27 - . Ltd.13 (77. Estrella Investment Co.658.477.954.10 (10.67 FY01-02 1849.112. Mr.98 5699. Investment M/s R.320.12 3.) BV (Rs.000 2.01 (216.581.06 441.) BV (Rs.98 5699.60 FY01-02 167.29 100.000 2.250 17. Heston Securities Ltd.627.433.08 (3) Stainless Investments Limited This Company was incorporated on September 15. Pental Holding Ltd.420.21 0.44 13.433.55 No.44 14.200 2.732.00 (excluding .040.12 83.750 181. P.37 (298.927.025.250 27.420. Sunil Mittal and Mr.63) Nil 33.98 5699.72 NIL 0.3 FY02-03 167.433.08 NIL 0. Other individuals/HUFs Total Financial performance The financial performance of the company is given below: Particulars Share capital Reserves and surplus revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs.74 18. D. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Mansarover Investments Ltd Ever plus Securities & Finance Ltd Jindal Steel & Power Ltd.05 17.82 0.08) Nil 34.84 3.242. 1982 as a Private Limited Company and converted into a public limited company.750 181.000 47.717.000 640. Goel.420.420.31 14.457.62) 17.44 14. Jindal Strips Ltd Jindal Equipment Leasing & Cons.000 1. The Company was registered with Reserve Bank of India as Non Banking Financial Company (not accepting public deposit) on 12th March 1998.000 551.) FY03-04 167.450 52.12 5.95 7.000 160.12 24.983. Services Ltd M/s R.92) NIL (0.44 14.K.41 6.581.000 1.000 2. The Board of directors of the company comprises Mr.000 2. P. The Company is engaged in the business of finance.05 FY02-03 1849.256.750 181. Investment and finance related consultancy services.Information Memorandum Particulars Share capital Reserves and surplus (excluding revaluation reserves) Turnover /receipts Profit /(loss) after tax Dividend (%) EPS (Rs. Mahender Kr.250 4.175 % of shareholding 6.581.758.525 16.

816.953.726 21.15 12.000 13. Ratan Jindal. Ltd.00 (excluding (5) Jindal Equipment Leasing and Consultancy Services Limited The Company was incorporated on March 29.500 10.39.000 15.000 35. Ltd. 1981 as a Private Limited Company and subsequently became a public limited company. 1998. S.01 13. Goel. K.85.17 7.500 199.823.9 No.783 2. Goel.000 218.538.383 (22. With effect from August 7. Board of directors of the company comprises Mrs.124. Services Ltd Jindal Strips Ltd.22 19. The Company was registered as NBFC with Reserve Bank of India (not accepting public deposit) on September 25. The Board of directors of the company comprises Mr.28 - .54 1. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Abhinandan Investments Ltd.000 340.000 1. D. Manjula Finances Ltd. D. 1984 as Jindal Equipment And Finance Limited. Pental Holding Ltd.500 912. Heston Securities Ltd. Other individuals/HUFs Total Financial performance The financial performance of the company is given below Particulars Share capital Reserves and surplus revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs. S. Mr.0023 NIL 0.01 13.68 FY02-03 1.000 218.39.The Company is registered with RBI to carry on the business of Non Banking Financial Company.823.01 13.61 18. Mr.538.000 1. Estrella Investment Co.) FY03-04 1.597.000 1.17 FY01-02 1. Stainless Investments Ltd.816.5 20.538.01 2.000 218. Saxena and Mr.500 300.828. of Shares 115. 1986 the name of the company was changed to Jindal Equipment Leasing & Consultancy Services Limited .43 2.000 1.44 100.442 NIL 1.Information Memorandum (4) Mansarover Investments Limited Mansarover Investments Ltd was incorporated on June 8.83 6.39.816.697. Jindal Holdings Ltd. Shallu Jindal. . Templar Investment Ltd.800 % of shareholding 0.000 1.816.78 13.01 13.000 13. Vrindavan Services Pvt.816.831) NIL 1. Investment and finance related consultancy services. Jindal Equipment Leasing & Cons. K. The Company is engaged in the business of finance.856.000 1.800 223.823. Ashok Goel and Mr.517. Beaufield Holding Ltd.038.60 1.) BV (Rs.

327.500 285.327.000 23. P.26 40.29 1. Investment and finance related consultancy services.000 302.) FY03-04 FY02-03 FY01-02 No. Subscribed & paid-up) 7.127.000 419.29 - . Jindal.531.47 1. Aras Overseas P.327. Vrindavan Services Pvt.900 7.45 34. Sun Investments Pvt.000.) NIL (1.000 100. of Shares 248. R.000 302.750.80 6.30. 1981 and is engaged in the business of finance. On March 21.00 77. Subhash Chandra Sharma.Ltd.000 23.000 65.000 100.570 NIL 1. Saxena and Mr.77 77. Stainless Investments Ltd. Renuka Financial Services Ltd Jindal Holdings Ltd.792 48.000 115.000 19.750. Ltd. Other individuals/HUFs Total Financial performance The financial performance of the company is given below Particulars Share capital (Issued. Mr.000 521.732. Ltd.Information Memorandum Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Abhinandan Investments Ltd.000 40.600 (10.29 17.51 77. Gagan Trading Co Ltd. Mansarover Investments Ltd.000. Musuko Trading P.700 % of shareholding 3.21 19.39) 33.000 1.300 1.531.003.568.000 302.394.000 23.815.465.69 6.000 13.07 1. Jindal Strips Ltd.74 14.000 1. Ltd.700 Equity Shares of Rs.20.000.000 10% Cumulative Redeemable Preference Shares of Rs. S.06 (6) Nalwa Investments Limited The Company was incorporated on February 6.193.95 3.630.476 11.49 5.57 18. Shareholding Pattern The shareholding pattern is as follows: .000 500. 100/-each Reserves and surplus (excluding revaluation reserves) Sales PAT Dividend (%) EPS (Rs. 1998 the Company got registered with Reserve Bank of India as Non Banking Financial Company (not accepting public deposit).) BV (Rs. 10/-each 2.43 100. S.732. The Board of directors of the company comprises Mr.327 NIL 6.750.

000 Nil 12.5) This company is listed on Delhi Stock Exchange Associations Limited. Sunil Mittal and Mr.221.572.000 10% Cumulative Redeemable Preference Shares of Rs.59) Nil (18. The Board of directors of the company comprises Mrs.500.) BV (Rs.74 43.000 140. There has been no trading in shares in preceding six months (7) Abhinandan Investments Limited The Company was incorporated on April 6. Investment and finance related consultancy services.000 140.35) NIL (5.700 100 10.000 19. the Company got registered with Reserve Bank of India as Non Banking Financial Company (not accepting public deposit).50.Jindal R.517.34 NIL 52.K.000 Nil 36.000. Mr.Information Memorandum Name of the Shareholder Abhinandan Investments Ltd.) No.R. Sun Investments Ltd.000. of Shares 200 10.850 197950 450. & Finance Ltd.13 (136.550 5.31 7.99 100. Parmod Garg. 1983 and is engaged in the business of finance.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.705 23.753.000.650 23.101 (2.350 112.038.59) (189) 4.Jindal & Sons HUF .000 140.400.000 Equity Shares of Rs. 100/-each Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs. Deepika Jindal.89 4.400 32.150 23.222 (8.30 No.100 34.K.701.500.K.Jindal & Sons HUF P.05 5.19 24.P.356. On March 19.10 5.00 FY03-04 FY02-03 FY01-02 4.26) (183.33 .35 0. O. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Arti Jindal Naveen Jindal Sajjan Jindal S. 10/-each 1.457.14 5.500.8) 4. of Shares 1.650 % of shareholding 0.713.34 1.26 5.000 % of shareholding 0.13 7. 1998. Subscribed & Paid-up) 4.000 Nil 39. Everplus Sec.Jindal & Sons HUF S.

000 5.000 Nil 23. The company is a global player in the field of energy transportation with state-of-the-art facilities in four locations in India and is also involved in the manufacture of pipes including seamless pipes and coating thereof. Devi Dayal. The company is an established player in the country for manufacturing and coating large diameter Submerged Arc Welded (SAW) line pipes. Subscribed & Paid-up) 2.00. Tauro.945.000 Nil 13. w.000.650 23.J. Chaudhary.33 6. Mr.502.000.43) (291.00 4. Jindal.00 Shares of the Company were listed on November 28. The board of directors of the company comprises Smt. Mr.000 Equity Shares of Rs.9) 2. V.000.) (Equity Shares only) FY03-04 FY02-03 FY01-02 2.33 11.000 500 1. January 11.409. 1984 as Saw Pipes Ltd.R.000.31 - .) BV (Rs.51) (276) (8) Jindal Saw Limited The company was incorporated on October 31.25 0.000 8. Mr. A.000 Nil 20. As part of backward integration. S. Mr. H.050 200.812 18.086.00 0.850 10. Mr. Ltd Stainless Investments ltd Mansarover Investments ltd Nalwa Investments ltd Jindal Strips Ltd Others Total 10.HUF Ever plus Securities & Finance Ltd Sun Investments Pvt. Moosa Raza. P. Swastik Udyog. M.060.907.127 (7. Financial performance The financial performance of the company is given below Particulars Share capital (Issued.83 5. R. Ms. which produces thicker gauge steel strips. Mr.000 10% Cumulative Redeemable Preference Shares of Rs. 1983 on Delhi Stock Exchange Associations Limited. Kuldip Bhargava.650 10. was merged with the company in 1991-92. 2005. Swastik Foils was amalgamated into the company in 1988-89.986.255. a subsidiary of Jindal Strips.3) 2.000.000 81. Sminu Jindal.000 8.03 100. Shareholding Pattern .37 NIL 91.28 (199.000 92.43) Nil (37. Satya Prasad and Mr.93 5.Jindal .132.50 4.10.f.741 (3.00 46. 10/-each 8.650 13. Purshottam Lal.70) NIL (15. 100/-each Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs.000 81.000.A. There has been no trading in shares in preceding six months. The name of the company was changed to Jindal Saw Ltd.e.000 81.Information Memorandum Savitri Devi Jindal Deepika Jindal P. Savitri Devi Jindal (Chairperson) Mr.

34 15% 10.98 290. Institutions/NonGovt. a.98 335.) Stock Market Data Month October 04 November 04 December 04 January 05 February 05 March 05 NSE High (Rs.58 2002-03 38.419 1763356 4864705 6262320 -12.60 242. b. Institution. in crores) is given below: Equity Share capital Reserves and surplus (excluding revaluation Reserves) Sales (including Excise duty) PAT Dividend (%) EPS (Rs.00 182. c. 1120.) BV (Rs.50 -55.30 244.48 225.00 191. 2005 is as follows: Category Promoters Holding Promoters: . Nil complaints were received and pending from Equity shareholders during the period December. depending on the type of complaint.30 235.95 236. The average time taken by the company for redressal of complaints is up to 15 days.800 45.00 2003-04 38. 2.50 250.24 25% 14.52 -33.) 205.34 804. Foreign Institutional Investors Sub . Insurance Companies (Central/State Govt.00 236.13 42.88 4. of shares % of shareholding A. 3.) 183.979.264 4.381 38.05 215.43 102.658 -2.659.26 11.32 - . Non Promoters’ Holding Institutional Investors Mutual Funds and UTI Banks.80 242.90 287.457.355 97. 1. d.37 0.32 76.Total Grand Total No.96 76. 2005) on BSE was Rs.07 100.41 91.702.Foreign Promoters Persons acting in concert Sub .08 25% 19.35 242.05 180. .60 249.100 -21. 17. a. 287.00 Financial performance The financial performance of the company (Rs.Indian Promoters .Information Memorandum The shareholding pattern as on March 31. The company has engaged the services of a Registrar & Transfer Agent to handle the grievances of the investors.458 4.Total B.) 188.30 56.05 285.00 BSE Low (Rs.90 High (Rs.631.40 Low (Rs.05 -7. b.25 c. 1. 2004 to March.755.50 304.68 754.50 and the market capitalization was Rs.874.00 192.90 2001-02 46.35 The market price of shares of the company (as on April 5.65 crores.56 1123.25 212. 4.890.00 305. Financial Institutions.558 3.55 9. 2005.50 235.Total Others Private Corporate Bodies Indian Public NRIs / QCBs Any other (please specify) Sub .) 200.

Total B.Govt. c.89 Nil (203.89 Nil 74.84 10. R.00 Nil 30. 1983 and is in the business of investment and trading in shares. of shares 100 100 % of shareholding 0. Mr.37 FY-01-02 224 0. Institutions/Non. Shareholding Pattern The shareholding pattern is as follows: CATEGORY PROMOTERS HOLDING Directors Persons acting in concert Sub . 1.59) 10.37 (10) Gagan Trading Company Limited . The Board of directors of the company comprises Mr.) FY-03-04 224 0. a. Financial performance The financial performance of the company (Rs. Gupta.04% 0.04% - A. L. a.37 FY-02-03 224 0. in lacs) is given below: Particulars Share capital (including preference share capital) Reserves and surplus (excluding revaluation reserves) Sales PAT Dividend (%) EPS (Rs.) BV (Rs. 4. Insurance Companies (Central/State Govt. b. R.Total Others Private Corporate Bodies Indian Public NRIs / QCBs Any other (please specify) Sub . Foreign Institutional Investors Sub .21% 82. P. NON PROMOTER’S HOLDING Institutional Investors Mutual Funds and UTI Banks.89 Nil (1. c. R. M. The Company has not issued any rights or a public shares in last five years. 1983 on Calcutta Stock Exchange Association Limited and no trading has taken placed during last 6 months. Swami and Mr. Jain. b. Financial Institutions. 3. 2.82) 10.96% 100.Information Memorandum (9) Colorado Trading Company Limited This Company was incorporated on January 17.41) Nil (0. 41300 198600 239900 240000 17. Institution.00% Shares of the Company listed in April.56) Nil (84.Total GRAND TOTAL No.75% 99.33 - . d.

trading in securities and providing management consultancy services. Kole and Mr. Ltd.100 2. Gagan Trading Co. R.000 20.000 20.90 (3344. trading in securities and providing management consultancy services.83 11. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Sun Investments Pvt.564.91) FY 03 1715.83 11. Rajeev Pai. Mr. Kole and Mr.60. in lacs) is given below: Particulars Equity Share Capital Reserve and Surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.79 102.) BV (Rs. (11) Vrindavan Services Private Limited (VSPL) Vrindavan Services Private Limited was incorporated on April 8. Board of directors of the company comprises Mr.N.30.45 100.40 11.53 6.71 13.000 5. Shareholders Sun Investments Pvt. Nacho Investments Ltd. The shares of the Company are listed on the Calcutta & Uttar Pradesh Stock Exchanges.R. Sarmento Holdings Ltd.90) 533.59. Heston Securities Ltd. The Company has not come out with any Rights or Public issue in the last five years.49.000 2. Templar Investments Ltd. 1982 as a Private Limited Company and converted into a public limited company “Vrindavan Services Ltd.) FY 04 1715.83 11.68 7. Estrella Investments Ltd. P.000 % of shareholding 39.42) (12. of shares 67.30.90 (3150. Board of directors of the company comprises Mr. 1997. 2002.000 20.52) FY 02 1715.09 (2168.77 10. Ltd. Sriram.30.00 * EPS has been arrived at after considering Dividend on Redeemable Cumulative Preference Shares.06 7.83 1. 1983 as a public limited company.S.99 (193. Beaufield Holdings Ltd. Mr. It is into the business of investments.269.000 20. No.” with effect from March 29.Information Memorandum The Company was incorporated on January 31.564. Bavneesh Gulati. Beaufield Holdings Ltd.06 6.40) No. Jayaraman. of Shares 7.83 11. Ltd.64) (8.30. K.71.000 3. P.65) (8.R. Others Total Financial performance The financial performance of the company (Rs. The company is carrying on the business of investments.97) *(2. Pentel Holdings Ltd.450 2. Bavneesh Gulati.34 - .880.877.75 *(0.600 2.369.900 % of shareholding 21.000 20. Mendeza Holding Ltd.65) 471.25 .90 (3241.30.38) (9.000 1.000. Mr. The company was reconverted into a private limited company on April 5.68) 54. Heston Securities Ltd.250 2.

96 1. The company is in the business of investing. Deepak Bhat and Mr. Estrela Investment Co.299. Baltimore Trading Pvt.100 4. J.18 0.94 0.86 FY 02 1644.94 2681. Jindal Coated Steel Pvt. Estrela Investment Co.052.25 6. Ltd.66 5. Jindal Holdings Ltd.25 1. Ltd.17) (0.35 - .800 2.33 Sun Investments Private Limited was incorporated on June 2.50 (121. Jindal Coated Steel Pvt. Ltd.24 2061.269.000 340.000 625.269.94 0.) BV (Rs.000 340.” with effect from October 15. Ltd.513. Jargo Investments Ltd.40 249.13 50. Its board of directors comprises Mrs.000 2. of Shares 29.40 355. Aras Overseas Pvt. Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Jindal South West Holdings Limited Jargo Investments Ltd. Sarmento Holdings Ltd.400 % of shareholding 40.000 65. Jindal Total Financial performance 2. Ltd.39 0. Ashok Goel.400 1.000 710. Ltd.18 0.269.94 0.19 4.700 4.000 340.25 6.98 0.) (12) Sun Investments Private Limited FY 04 3629.00 100. Ltd.32 141. D. in lacs) is given below: Particulars Equity Share Capital Share Application Money Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs. Mr.00 The financial performance of the company (Rs.00 0.74) 11.Information Memorandum Templar Investments Ltd. 1981 as a private limited company and converted into a public limited company “Sun Investments Ltd. 1990. Ltd Mendeza Holding Ltd.71 6.73 5.39 FY 03 3518. Ltd. 2003. Kamshet Investments Pvt. Sangita Jindal (Managing Director).402 6. Pentel Holdings Ltd.89 5.800 3.18 .711. Wachovia Investments Pvt. Naman Enterprises Pvt. P. Pentel Holdings Ltd.80) (0.001 401 36. The company was reconverted into a private limited Company on February 18. trading in securities and providing management consultancy services.300 5.500 64. No.900 3.27 4.760.119.300 11. Musuko Trading Pvt.72 0. Garg.69 17. Mr. Ltd. Vavasa Investments Ltd.989.51 (31.207. V.300 2. Nacho Investments Ltd. Mr.09) 15.01 58.94 0.00 219.000 340.000 140.55 7.119.

04 37.800 6.27 11796. Shareholding Pattern The shareholding pattern is as follows: Shareholder Gagan Trading Company Ltd.01 0.02 0. Ltd. Vrindavan Services Pvt.000 14.84 0. Ms. P.03 0.) (13) Meredith Traders Private Limited FY 04 7149. Ratan K . Tarini Jindal Ms. Sangita Jindal Mr. Deepika Jindal Colorado Trading Co.28 2.200 2.58) (0. Abhuday Jindal Ms.347.28 12649.999 300. Mr.) BV (Rs.500 17.Jindal O.000 5. Kole and Mr.46 12.100 39. P.R.61 (28.89 733.36 - .01 0. Mr. Sminu Jindal Vrindavan Services Pvt.50 . Ltd. Deepak Bhat.08 0. Om Prakash Jindal Ms.22 0.05 0.Information Memorandum Beaufield Holdings Ltd.00 100.01 0.13 1828. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation Reserve) Income PAT Dividend EPS (Rs.300 30. Everplus Securities Pvt. Ltd. Puran Chand Sharma Total Financial performance 2. P .500 13.76 4051.492. Jindal Mr.03 27. of Shares 1. No.201. R.00 The financial performance of the company (Rs.000 51.000 6. Tripti Jindal Ms.06 0.07 Incorporated on August 11.700 23. Savitri Devi Jindal Ms. Heston Securities Ltd. Tanvi Jindal Jindal Strips Ltd.500 10.600 2.033.04 0.30 10532.400 13.75 4395.100 10.01 0.84 2. The Company’s Board of Directors comprises of Mr.01 0.68 FY 03 7119.900 60.02 0.000 100 71. Naveen K.033. Urvi Jindal Ms.02 0.02 0.28 28.55 FY 02 5827.04) 26. Templar Investments Ltd.01 0. Vavasa Investments Ltd. 1993 as a private limited company.300 10.000 % of shareholding 50.01 0. Ltd.59 1. it is in the business of Investments and trading in securities.000 8.001 898.000 239.800 3.20 161. Jindal Ms.000 46.34 0. Jindal (HUF) Mr. Mr.07 0.

61) (16530489) (35772825) No. The company’s board of directors comprises Mr. Shareholding Pattern The shareholding pattern is as follows: Shareholder Mrs.00 (1889. . Kole.89) (14) Reynold Traders Private Limited The Company was incorporated on September 1. Dev Joory.00 0.100 each) Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.002 (725.00 (4574.59 75. of Shares 1 1 2 % of shareholding 50. Damani Mr.45) 16.002 (670.60 0. Mr.00 100.08) 19.82 1801.11) 3030. Sangeeta S.62) (3. investments in capital markets and providing consultancy services.58 2729130 (33524543) FY 03 0. Mr.37 - .60 (330. Sunil Damani Total Financial Performance The financial performance of the company (Rs.86 54.) BV (Rs.19) (90.13 2002-03 2400. 1997. Ltd. R.00 50.01 12.99) 8. It carries activities of investments and dealing in shares and securities. Couldip Basanta Lala and Mr. Pradip Gaad.31) 2001-02 2400. 100 each) Reserve and surplus Excluding revaluation reserve Income PAT Dividend EPS Rs BV Rs 2003-04 2400. It carries out activities of holding and letting out of property.07 21.00 (15) Templar Investments Limited Templar Investments Limited was incorporated on June 30. Board of directors comprises Mr.00 (4562. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.39) 14.002 0.00 100. Prithvi Raj Jindal.) FY 04 0. R.002 (715. Jayaraman and Mr.53 (9.00 The financial performance of the company (Rs. Silky Investments Pvt.40) 115. Ltd.Information Memorandum Gauri Investments Pvt. P.52 (90.400.12 (76. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.62) (481073) (36253673) FY 02 0. Total Financial performance 1 1 2. 1993.

12. Prithvi Raj Jindal. Dev Joory.01 7000 7240903 3016130 2672687 -382 1035 No.500 1.02 5000 10878633 3784318 3631866 -726 2177 31.000 1.00 3.00 100.02 7000 10831910 3784920 3591007 -513 1548 31. Board of directors comprises Mr. It carries activities of investments and dealing in shares and securities.12.000 % of shareholding 70. 1997. of Ordinary Shares 3.12.00 28.800 200 7.00 26.00 100.400 100 5.03 5000 11439760 572657 561127 -112 2289 31.12.00 2.00 (16) Heston Securities Limited Heston Securities Limited was incorporated on June 30. Couldip Basanta Lala and Mr. Mr.00 .01 5000 7296767 3015505 2670935 -534 1450 No.12. of Ordinary Shares 5.38 - .000 % of shareholding 71. 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.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 31.03 7000 11396160 575602 564250 -81 1629 31. Pradip Gaad. Mr.

12. Pradip Gaad.12. Mr.01 1942 (384863) 153638 45256 -45 -No. Tasoula Georgiou. It carries on activities of investments and dealing in shares and securities. Prithvi Raj Jindal.00 34.39 - .12. Board of directors comprises Mr.00 1. Board of directors comprises Mr. Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Prithvi Raj Jindal Other – Nominee Total Financial Performance The financial performance of the company (in US Dollars) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income 31. 1996.03 1942 (3136527) 137015 31. Mr.02 1942 (533740) 63350 (148877) --31. Tasoula Georgiou. Mr.12.02 1942 (3266074) 63406 31. Pradip Gaad. of Ordinary Shares 999 1 1.00 .90 0.10 100.00 (18) Jargo Investments Limited Jargo Investments Limited was incorporated on July 29.12.000 % of shareholding 65.01 1942 (3063112) 39504 No. of Ordinary Shares 650 340 10 1. It carries on activities of investments and dealing in shares and securities. 1997.03 1942 (424514) 116024 109264 -109 -31. Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Prithvi Raj Jindal Pradip Gaad Other – Nominee Total Financial Performance The financial performance of the company (in US Dollars) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT/(Loss) Dividend EPS BV 31.Information Memorandum (17) Vavasa Investments Limited Vavasa Investments Limited was incorporated on June 18. Andry Tryphonos and Mr.12.000 % of shareholding 99. Prithvi Raj Jindal. Andry Tryphonos and Mr.00 100. Mr.

00 38. It carries on activities of investments and dealing in shares and securities.00 Beaufield Holdings Limited was incorporated on June 30. Board of directors comprises Mr. Mr.00 44.900 100 5. 1997. Prithvi Raj Jindal. Pradip Gaad. Tasoula Georgiou. 1997. It carries activities of investments and dealing in shares and securities. Prithvi Raj Jindal. Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Prithvi Raj Jindal Pradip Gaad International Trustees Limited Total Financial Performance The financial performance of the company (in US Dollars) is given below: No.000 % of shareholding 60. 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. Mr.00 .000 1.50 100.01 1942 (435239) 172323 (10648) ---No.40 - .03 1942 (424786) 133418 126504 -126 -31. of Ordinary Shares 550 445 5 1.12.000 % of shareholding 55. Couldip Basanta Lala and Mr.02 1942 (551289) 61227 (116050) ---31.00 100.12. Andry Tryphonos and Mr.00 2.50 0. Pradip Gaad. of Ordinary Shares 3. The company’s board of directors comprises Mr. Dev Joory. Mr.Information Memorandum PAT/(Loss) Dividend EPS BV 129548 -130 -- (202962) ---- (497541) ---- (19) Sarmento Holdings Limited Sarmento Holdings Limited was incorporated on June 18. Mr.12.

400 100 6. Mr.01 5000 7169378 2997354 2615193 -523 1435 Pentel Holding Limited was incorporated on June 30. Dev Joory. Couldip Basanta Lala and Mr.12.00 33.03 5000 11464486 685951 673039 -135 2294 31. Board of directors comprises Mr. Andry Tryphonos.12. of Ordinary Shares 660 330 10 1. Pradip Gaad and Mr. Mr. 1997. Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Prithvi Raj Jindal Pradip Gaad International Trustees Limited Total Financial Performance The financial performance of the company (in US Dollars) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS BV (22) Mendeza Holdings Limited 31. Pradip Gaad.00 .12.000 % of shareholding 75.12. Mr.01 6000 7160578 3014513 2569236 -428 1194 No.41 - .500 1.00 100. 1997. Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Prithvi Raj Jindal Pradip Gaad Other – Nominee Total No. Prithvi Raj Jindal.000 % of shareholding 66.00 23.00 Mendeza Holdings Limited was incorporated on June 18.12.Information Memorandum Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS BV (21) Pentel Holding Limited 31. of Ordinary Shares 4. Tasoula Georgiou.00 1.02 6000 10751260 3783357 3590681 -598 1793 31. Prithvi Raj Jindal. Mr.03 6000 11309499 569872 558239 -93 1886 31.00 2. It carries on activities of investments and dealing in shares and securities.00 100. It carries activities of investments and dealing in shares and securities.02 5000 10791447 3786975 3622069 -724 2159 31. Board of directors comprises Mr.12.

Shareholding Pattern The shareholding pattern is as follows: Name of Shareholder Prithvi Raj Jindal Pradip Gaad International Trustees Limited Total Financial Performance The financial performance of the company (in US Dollars) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS BV 31.02 6000 10794110 3795749 3630810 -605 1800 31. Mr. The company’s board of directors comprises Mr. Mr.00 2. Mr. of Ordinary Shares 4.12. Tasoula Georgiou. Pradip Gaad and Mr. It carries activities of investments and dealing in shares and securities.00 31.12. Andry Tryphonos.000 1.12.03 1942 (537985) 144577 132778 -133 -31.42 - .00 (24) Nacho Investments Limited Nacho Investments Limited was incorporated on April 18.02 1942 (670762) 63359 (126928) ---31.880 120 6.12. 1997. Prithvi Raj Jindal. Board of directors comprises Mr. 1997. Mr. Couldip Basanta Lala and Mr.03 6000 11381086 600079 586976 -97 1898 31.Information Memorandum Financial Performance The financial performance of the company (in US Dollars) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT/(Loss) Dividend EPS BV 31.01 1942 (543834) 184478 (13371) ---- (23) Estrela Investment Company Limited Estrela Investment Company Limited was incorporated on June 30. Pradip Gaad. Shareholding Pattern The shareholding pattern is as follows: .01 6000 7163300 3002215 2547719 -425 1195 No.12. Dev Joory.000 % of shareholding 67. It carries on activities of investments and dealing in shares and securities.00 100. Prithvi Raj Jindal.12.

03.000 % of shareholding 55. Mr. Mr. of Shares % of Shareholding 16256093 52. Mr.03 1942 (446781) 136498 130292 -130 -31. Naveen Jindal. Ferro Chrome and Steel Products like slabs. Mr.02 1942 (577071) 63395 (104145) ---31. on June 12. The company has captive iron ore and coal mines at Tensa in Orissa and Mand area in Raigarh in Chattisgarh respectively. parallel flanges and billets. which is engaged in production of Sponge Iron. 1998.00 44.00 1. Ratan Jindal. Ltd.43 - .12. of Ordinary Shares 550 440 10 1. blooms. Gupta. Vikrant Gujral. Harsh Vardhan Lodha. the name of the company was changed to Jindal Steel & Power Ltd.00 100.01 1942 (472926) 163626 (17783) ---- (B) (1) Promoter Group Companies Jindal Steel & Power Limited (JSPL) The company was incorporated on September 28. 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. Mr. were transferred to and vested in the company from April 2. The board of directors of the company comprises Mr. Mr. No. 1998.. Shareholding Pattern The shareholding pattern as on 31. Subsequently.12. Anand Goel.’ on May 27.00 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. 1979 as Orbit Strips Pvt. L.Nominee Total Financial Performance No. It is also engaged in generation of power. A 1 Category Promoter's Holding Promoters . Rajendra Singh. The company’s unit at Raipur is engaged in machining. Singh Pasrich. Mr. Sushil K.12. The company has a unit in Raigarh.Information Memorandum Name of Shareholder Prithvi Raj Jindal Pradip Gaad Other . Raigarh and Raipur divisions of Jindal Strips Ltd. Mr.79 . which was converted into a public limited company ‘Orbit Strips Ltd. Subir Bisht. 1998. M. Maroo and Mr. Amir Z.Indian Promoters i) Corporate Bodies + Resident Indian No.2005 is as follows: Sr.

55 70% 38.95 834.00 692.35 964.65 1664578 132548 5.41 0.) 795.00 1103.77 1.18 100.40 839.33 18.16 4.18 1. 05 March.00 1104.40 and the market capitalization was Rs.86 60. in crores) is given below: Particulars Equity Share capital Reserves and surplus (excluding revaluation reserves) Sales (including Excise duty) PAT Dividend (%) EPS (Rs.33 654.00 851.00 1000.66 0.00 2003-04 15.08 125% 52.00 628.00 195.00 Low (Rs.00 1000.50 821.35 824.00 1259.00 1026.00 1262.109.15 21.00 860. Financial Institutions. 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. .22 107. 2005) on BSE was Rs.) Stock Market Data Month October 04 November 04 December 04 January 05 February.00 964.90 452. 1044.) 796.46 200% 100.43 c 4 a b c d 3795642 5592768 1420514 4546914 510135 45044 6522607 30792268 12.00 2001-02 12.63 558.80 1561.61 14.00 Financial performance The financial performance of the company (Rs.Foreign Promoters Person acting in concern Sub-Total Non-Promoters Holding Institutional Investors Mutual Funds and UTI Banks.44 - .00 BSE High (Rs.00 833.22 277 2002-03 14.00 Low (Rs. 3215 crores.00 920.) 623. 05 NSE High (Rs.00 180.) BV (Rs.) 663.79 145.90 1030.00 The market price of shares of the company (as on March 31.Information Memorandum 2 B 3 a b ii) OCBs+Non Resident Indian .05 915.49 305.

92 4. 2.845 ii Gagan Trading Co.K. 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.800 xi Jindal Equipment Leas & Con. 2002 (the appointed date).50 2. Singhal. plates and sheets. vide Punjab & Haryana High Court order dated May 31. flat bars.e. 2005 is as follows: Sr.110 vii Stainless Investments Ltd.555 xii Saw Pipes Ltd.078. Rajinder Parkash. Particulars of investor complaints during the period January to March 2005 are as follows: Opening balance: 1.45 1. 2001 and further to Jindal Stainless Limited on January 27. depending on the type of complaint. 2003. Mathur.797. The average time taken by the company for redressal of complaints is up to 21 days. Under the scheme of Arrangement and Demerger among Jindal Strips Limited and Jindal Stainless Limited.G. Suman Jyoti Khaitan. the stainless steel undertaking from Jindal Strips Ltd with all the property.615. The company was originally incorporated on September 29.710 xiv Others 5.92 .38 8.315.f. Naveen Jindal. N. L. blooms. Resolved/Replied: 50 and pending: 1 (2) Jindal Stainless Limited The company was promoted by Mr.705 x Hexa Securities & Finance Co.835 v Mansarover Investments Ltd.19 4. Category No.443.210 vi Nalwa Investments Ltd. Garg and Mr.com Limited on January 25.946. Savitri Devi Jindal (Chairperson) Mr. The board of directors of the company comprises Smt. of shares held No.707.454. Ser.945 viii Manjula Finances Ltd 1. asset. R. Mr.31 0. Dr. Shareholding Pattern The shareholding pattern as on March 31.157. rights. Mr. Complaints Received: 50./Jindal Saw Ltd. 2003.Ltd 4. Ltd 2. 2.22 2. Ratan Jindal.45 - . Ltd.05 3. 2. Mr. A. Ratan Jindal.410. The name of the company was changed to Jindal Int. hot rolled and cold rolled coils. April 1.735.080 ix Vrindavan Services P.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. 1980 as Jindal Ceramics Limited.55 1.89 2. Mr. powers and liabilities in respect to stainless steel undertaking stood transferred to and vested in Jindal Stainless Limited w. C.11 5. Ltd.375 xiii OCBs 8.295 iii Sun Investments Ltd 9.46 1. 3.290 % of shareholding 1. 1. Ltd 5.780 iv Everplus Securities & Finance Ltd 1.296.012.23 8. 1.999. Promoter’s holding 1 Promoters: Indian Promoters: I Colorado Trading Co.

58 164.83 391.93 0.00 High (Rs.998.022.00 36. in crores) is given below: Particulars Equity Share capital Reserves and surplus (excluding revaluation reserves) Sales (including Excise duty) PAT Dividend (%) EPS (Rs.) BV (Rs. 3 a.08 55.30 58.977.80 100.608 2. Insurance Companies (Central/ State Govt.38 2.727. b.883.) 94.19 4.697.500 7.13 2001-02 0.189.115 975 40.524 1.220. Latin American Investment Bank Bahamas Ltd.30 BSE Low (Rs.Government Institutions) i.932. ii FID Fund Mauritius Ltd.499 109.272 22.80 1989.) 76.223. -Foreign Promoters Persons acting in concert Sub-total (A) Non-Promoters Holding Institutional Investors Mutual Funds and UTI Banks.17 20.269 4.24 2605.844 2. Financial Institutions.0001) - .) 77.) Stock Market Data Month October 04 NSE High (Rs. c.204.98 530.909.19 100% 17.54 c.) 93.070 0.498 520.57 2002-03 13.50 Low (Rs. b.24 9.891 56.10 1. Indiabulls Financial Services Ltd Ii Others (Companies) Indian Public NRIs/ NRI Companies/OCBs i.15 60% 9. American Express Bank Ltd ii Life Insurance Corporation of India iii Others FIIs.Information Memorandum 2 B.909.48 7.47 15.656 9.93 90.345 0.997. Institutions / Non. 4 a. ii Others Any other (pending allotment) Sub-total (4) Sub-total (B) Grand-total (A+B) 3.20 2003-04 19.423 1.20 269.41 51.55 2.46 - .760 2. Others (FIIs) 5.02 0.437 16.01 48.810 52.10 1. i. Financial performance The financial performance of the company (Rs.0007 (0.00 d. Sub-total (3) Others: Private Corporate Bodies i.

00 87.000 500. Jindal H.R.660. D.000 1.000 1.570.00 0.25 and the market capitalization was Rs.50 91.318.95 106.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.000 1. Jindal Holdings Ltd. Wachovia Investment P.00 The market price of shares of the company (as on March 31. (3) Manjula Finances Limited The Company was incorporated as Private Limited on February 1. Jindal & Sons H. Sharma and Mr.000 10.000 10.21 7.04 0.U. Vrindavan Services Pvt.000 1.F O. is NBFC (not accepting public deposit). 1079.000 10. Ltd.020 % of shareholding 0.318.00 11.30 8.U.16 13. Ltd.000 22.81 5.81 5.86 2. Resolved/Replied: 478 and Pending: 12.F Master Parth Jindal R.60 6.81 5. P.015.P.90 78. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Naveen Jindal H. Jindal & Sons H.00 78.32 2. Kamshet Investment P.81 100.000 590. Mr.000 600.98.318. The Company is engaged in the business of finance.40 96.75 90.70 80.47 - . Total Financial performance No. 2005) on BSE was Rs.90 111.318.000 1. Gagan Trading Co Ltd.010.000 3.000 1.40 96.95 106.000 1. Aras Overseas P.000 2.000 10.55 110.75 91. Investment and finance related consultancy services.81 5. 1995 and became Public Company with effect from March 31. The average time taken by the company for redressal of complaints varies from 7 to 25 days.400.10 81.86 crores.04 0. Ashok Goel.675.33 2.65 5.U.17 11. of Shares 10.15 87.000 2. The company has engaged the services of a Registrar & Transfer Agent to handle the grievances of the investors.05 80. Baltimore Trading P. Sunil Mittal.170. Manjula Finances Ltd.U.00 .520. Board of Directors includes Mr. Musuko Trading P.000 10 10 2. Ltd. Brahmputra Cap & Fin Ltd.70 91.Information Memorandum November 04 December 04 January 05 February 05 March 05 89. Ltd. Ltd.20 88.318.00 80. 1997.04 0.04 0.F P. Ltd.04 0. Particulars of investor complaints during the period April 2004 to March 2005 are as follows: Complaints Received: 490. depending on the type of complaint.000 1.11 5.K.

00 .F Master Parth Jindal Deepika Jindal Anita Gautam Renu Vashisth Stainless Investments Ltd Mansarover Investments Ltd Goswami Credits & Investment Ltd Ever Plus Securities & Finance Ltd Manjula Finances Ltd Brahmputra Cap & Fin Ltd. Ltd.25 2. Investment and finance related consultancy services.000 486.500. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder P. Wachovia Investment P.P.19) NIL (0.00 18.220.000 1.25 2.200 NIL 26.R.000 10.620. Musuko Trading P. of Shares 10.05 0. Ltd.000 10.000.200 NIL 40. Baltimore Trading P.726.78) 2.25 2.533. Aras Overseas P. 10/-each Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs.500.500. Ltd.00 0.69 6. Ltd. Ltd.73 11.2 (12.58 12. P.750. Parmod Garg.000 10.48 - .000 486.) FY03-04 226.000 1.53 6. The Board of Directors comprising of Mr.95 6.000 486.000 10 10 4.000 2. Kamshet Investment P.56 FY02-03 226.71 (4) Renuka Financial Services Limited The Company was incorporated as Private Limited on February 1.445.55) 2.590.6 (17. The Company is NBFC (not accepting public deposit) and engaged in the business of finance.300.40 2. Mr.000 21.000 1.000 2.000 486.05 0. Jindal Naveen Jindal H.827.020.200 NIL 6.871. Jindal O.05 0.Information Memorandum The financial performance of the company is given below Particulars Share capital 2.26.000 1.660.000 1. 1995 and became Public Limited with effect from March 31.20 7.75.020 % of shareholding 0.802.05 0.02 7. Sharma. D.509.858. Gagan Trading Co Ltd Jindal Holding Ltd.750.000 1.U.05 0. Ltd.000 10.000 486.25 100 .95 2.25 2.770.17 FY01-02 226.74 8.000 590.55) NIL (0.750.14 2. Vivek Goel and Mr.) BV (Rs. Total No.970.020 Equity Shares of Rs.670. Nalwa Investments Ltd.4 8.34 NIL 0. 1997. Vrindavan Services Pvt.355.

000 10.) FY03-04 215.000 710.000. Total Financial performance No.900. 1997.015.000.05 0.000 1.200 10.170.000 3.U.020 % of shareholding 0.020 Equity Shares of Rs.27 21.000 3.10) 2.200 FY01-02 215.90 7.05 0.000 NIL 161907596 102. Deepak Goel.000 500.000 10 10 3.27 2.00 14.200 FY02-03 215. Mr.660.000 10.900. Jindal H. of Shares 10.05 0.000 10.750.754.924. The Board of Directors comprising of Mr.000 1.49 - .12 NIL 5.900. 10/-each 1.67 NIL 0.4 NIL NIL 18754323 (23. 100/-each Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs.55) NIL (1. 1994 as Private Limited and later on became public Company with effect from March 31. Sanjay Agarwal.38 14. Ltd.R.950.00 .00.05 0.025.32 14.40 100.56 7.590.000 10.000 4.U.000 NIL 98977652 605.36 (5) Ever Plus Securities & Finance Limited The Company was incorporated on November 24.000 1.17 10. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Deepika Jindal P.Information Memorandum Financial performance The financial performance of the company is given below Particulars Share capital (Issued.38 5.13 7.588.05 0.625. Vivek Goel and Mr.000.02 2.000 21.34 3.000 1.F Naveen Jindal H.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. Investment and finance related consultancy services. The Company is NBFC (not accepting public deposit) and engaged in the business of finance. subscribed & Paid-up) 21.500.670.00 0.000 Preference Shares of Rs.000.) BV (Rs.94 8.

a.6 FY02-03 210. Works (P) Ltd and later on the name was changed to Nalwa Engg. Foreign Institutional Investors Sub .Govt.026 (42. 1984 on The Calcutta Stock Exchange Association Limited and no trading has taken placed during last 6 months. Jain.439 108. Gupta. a. R.31% 99.65 NIL 5.200 NIL 12.Total NON PROMOTER’S HOLDING Institutional Investors Mutual Funds and UTI Banks. b. B. of Shares 100 100 % of shareholding 0.04% 0. 4.606. 1983.00) (1.08% 5.16 3. Promoters Holding Directors : Persons acting in concert Sub .I. b. M.200 NIL 36.96% 100. d. Co.82) NIL (0. Ltd.377.187. L. 1957 as Sree Iron Foundry & Engg. The Board of Directors comprising of Mr. 1.04% - c. Institution. 2. since December 21. 1984. R.01) (1. on October 25. Institutions/Non.50 - .S. The company is engaged in the Business of Cast Iron Foundry and changed the activities in heavy & Light Engg.250. jobs under S.323. 193342 108810 16967 319119 319219 60.250.56) FY01-02 210.577.966) NIL (2.Total Others Private Corporate Bodies Indian Public NRIs/QCBs Any other (please specify) Sub .56) (6) Nalwa Engineering Company Limited The Company was incorporated on December 3. Financial Institutions.) FY03-04 210.643.Total GRAND TOTAL No. Shareholding Pattern The shareholding pattern is as follows: Category A. c. Insurance Companies (Central/State Govt.250. Swami and Mr.00% Shares of the Company got listed in September.57% 34.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.200 NIL 148. Financial performance The financial performance of the company is given below . Mr. 3. R.270 (80. P.) BV (Rs.629.

20 15.65 2. Sunil Mittal. Wachovia Investment P. the Company got registered with Reserve Bank of India as Non Banking Financial Company (not accepting public deposit). 2002.R.Information Memorandum Particulars Share capital Reserves and surplus (excluding revaluation reserves) Sales (Including Other Income) PAT Dividend (%) EPS (Rs. of Shares 10.) FY-03-04 31.000 496.170.000 10. Kamseth Investment P.51 - .17) 11.000 496.000 2.000 1. & Finance Ltd M\s Silver smith Gagan Trading Co.05 28.000 1.600.00 . Mr.61) Nil (10. 1997.85 11. Ltd.27 (Rs.05 33.220 % of shareholding 0. The Board of Directors comprises Mr. Ltd.200 50.) BV (Rs. Deepak Goel.420.00 8.25 4.000 600.427.65 2.92 13.67 6.65 2.855.38 37.05 0. 1995 and became Public Limited with effect from March 31. Jindal Master Parth Jindal Master Abhuday Jindal Manju Bansal Renu . Baltimore Trading P.05 0.27 3.00 0.000 10 10 1.U.25 7.500. Total No.000 2.722. Ltd. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Naveen Jindal H.22) 11.000 496.03 0. Musuko Trading P. 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.000 10.33 8.000 5. Ltd.47 (54. Ltd.83 Nil 11.000 500. Abhinandan Investments Ltd Nalwa Investments Ltd Bhramputra Cap.03 0. Aras Overseas P.000 590.65 2.000 18.000 1.65 100.000 496.56 (32.S.F Savitri Devi Jindal Om Parkash Jindal P.670.05 53.000 10.000 5.92 4.15 2.93 3.92 4.27 (7) Goswamis Credits & Investments Limited The Company was incorporated as Private Limited on January 13.000 496.000 2.27 FY-02-03 31.35 2.05 0.62 0. Ltd. In lacs) FY-01-02 31.000 810. Ltd.82) Nil (17.55 12. On December 5.92 4.05 0.

b. The Board of Directors comprises Mr..750 --98.08 (excluding Jindal Seamless Tubes Limited The Company was incorporated on April 12.397. Sminu Jindal.57) NIL (0. a.10.19 1.600 -96. K.200 NIL 2. Institutions/NonGovt.52 - . d. Promoters: .e.350 6. 1992.38) 0.103. Mr.Indian Promoters .f.Total NON PROMOTER’S HOLDING Institutional Investors Mutual Funds and UTI Banks.962. New Delhi w.789.377. 21 lakhs.222. PROMOTERS HOLDING 1.Total GRAND TOTAL No. 1984.222. Foreign Institutional Investors Sub . of shares % of shareholding 14. Shareholding Pattern The shareholding pattern is as follows: CATEGORY A.00 The Company’s Equity Shares are listed on The Delhi Stock Exchange Association Ltd.92 FY02-03 187.222.) BV (Rs.Foreign Promoters 2. Goel. the manufacturing activities were disposed off under the provisions of Section 293(1)(a) of the Companies Act.200 NIL 11.79 --46. Hot and Cold Rolling Mills. June 5.626.98 100.362. As the paid-up capital of the Company is only Rs.05) NIL (0. Institution.73) NIL (0. Insurance Companies (Central/State Govt.200 NIL 3. Sandip Sharma and Mr. 4. R.) (8) FY03-04 187. there has not been any trading in the shares for the last several years. The name of the Company was later changed to Jindal Seamless Tubes Ltd.7 (16.3 (14. c. Sub . D.871.95 -46. 3.134.e.79) 1.000 --45. Ms. June 28.650 2. P. Persons acting in concert B.430 (7.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.f. b.02 --- --- c. In the year 1996. It was incorporated for carrying on the business of continuous cast.07 53.904.Total Others Private Corporate Bodies Indian Public NRIs / QCBs Any other (please specify) Sub . 1979 as Nalwa Steels Ltd.005. Financial Institutions. --94. a.750 1. w.11.85) 2. . Jindal.900 3.30 FY01-02 187. 1956 and since then there is no manufacturing activity in the Company.

40) NIL (46.400 130.75 9.400 2.000 Nil 1.98 9.56) Nil (10.96) No.9) FY02-03 2.405.00 .85 (297.41) Nil (175.98 100.98 9.51 4.78) (136.000 Nil 1.64) 162.250 1.405.125.29) FY02-03 21.) BV (Rs. Savitri Devi Jindal and Mr.400 2. Ltd Gagan Trading Co. S. Saxena. The Company is engaged in the property business.80) 13.R. The Board of directors of the company comprises of Mr.Information Memorandum Financial performance The financial performance of the company is given below Particulars Share capital Reserves and surplus (excluding revaluation reserves) Income PAT Dividend (%) EPS (Rs.400 5.51) (Rs. P.) FY03-04 2.885. P.400 24. Smt.922. S.005.53 - .370 10 3.57 9. 1971 and became Public limited with effect from July 30.85 (274.04 (15. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Savitri Jindal O.360.15 NIL 16.000 Nil 1.98 9.760 (1.78) (209.230 2.36 (197.08 (204.24) 5. 100/each) Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs.60) Nil (7.22 (384. Jindal (till March 31. O.79 (23.14) (125./ Jindal Saw Ltd Naveen Jindal Abhinandan Investments Ltd Ratan Jindal Stainless Investments Ltd P.85 0.18 NIL 10.100 2.) BV (Rs.93) (118.050 % of shareholding 0.98 21. Jindal Colorado Trading Co.Jindal Jindal Strips Ltd Total Financial performance The financial performance of the company is given below Particulars Share capital (Equity Shares of Rs. 1986. In lacs) FY01-02 21.25 9.971.12 0.52) FY01-02 2. of Shares 30 60 2.400 2.130 159.85 (258.37) The Company was incorporated as Private Limited on June 16. 2005).04 13.229. Ltd Nalwa Investments Ltd Swastik Udyog Ltd.) (9) Rohit Tower Building Limited FY03-04 21.405.

000 520.) – 281 403.Information Memorandum (10) Hexa Securities & Finance Company Limited This Company was incorporated on November 23. Ltd.00 (3.00023 100.000 100 42. The Board of Directors of the Company comprises Mr. D. Mr.859.21) (Rs.17 1.08 0.000 500.76) FY02-03 2.P. The Board of directors of the company comprises Mr.26) 74.00 .00 (2.25 (11. P.023. Sharma and Mr.) BV (Rs.000 500.000 19.17 1.00 (2. UPSIDC Indl. having its registered office at A-1. The Company is NBFC and holds investment in other Companies.16 63.58 Nil 0.17 45.81) 295.66 163. The Company was incorporated as Private Limited and became Public Limited with effect from May 4. K. It was converted into Public Limited Company on December 3.98) 509. Area. Nandgaon Road.800 500.000 % of shareholding 0. Ranjit Malik and Mr.22 1. Aggarwal. Distt.) FY03-04 2.45 Nil 0.15 370.17 1. 1994. 1934. Parmod Garg. 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. 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. 1995.64 (11.54 - . In lacs) FY01-02 2.86) (11) Brahmputra Capital And Financial Services Limited The Company was incorporated on June 14.K. Mr. of Shares 100 20.550.590.45 (9.488. Arvind Kiran Aggarwal. The company is Non-Banking Financial Company (not accepted Public deposits) registered under Section 45-IA of the Reserve Bank of India Act.00023 49. R.000 500. Rajesh Aggarwal.83 Nil 1.00 1.869.Bansal Nominee of Jindal Strips Ltd Total No.550.200. Shareholding Pattern The Company is 100% subsidiary of Jindal Saw Ltd. 2002. 1994 as Hexa Securities & Finance Co. Kosi Kalan.550. Pvt. Mathura (U.

0037) 9.each Reserves and surplus (excluding revaluation reserves) Sales/Revenue PAT Dividend (%) EPS (Rs. The Company is engaged in the business of finance.43) Nil (0.) BV (Rs.36 1918 FY02-03 100. Raj Kumar Nahata.) FY03-04 100.79 Nil 2059. 100/.946.000 % of shareholding 80.900.103. K.717.00.316.) (12) surplus (excluding revaluation FY03-04 425.500) 7%Redeemable Cumulative Preference Shares of Rs.10 19. R.869 (279.990 10.000 (831.90 100.) BV (Rs. Saraf and Mr.10/-each 1.667. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Naveen Jindal P. On January 13. Investment and finance related consultancy services.000 Nil 188.464 FY02-03 425.70 21.00 No. .399) Nil (0.000 Nil Nil Nil Nil Nil Nil 7.000 Nil 36.55 - .115.000 Nil 118.000.0066) 9.150.Information Memorandum Financial performance The financial performance of the company is given below Particulars Share capital Reserves and reserves) Sales PAT Dividend (%) EPS (Rs.000 10 1.4 FY01-02 425. of Shares 8.201.296 (30.164 (1.00071) 9.000 145.000 19.450.259 20. Ltd. Ltd.468 Gagan Sponge Iron Private Limited The Company was incorporated on February 24.350) Nil (0.000 Nil 15. 1956 under the name of Navin Sponge Iron Pvt.721.900.79) (102) FY01-02 1. The Board of directors of the company comprises Mr. 1989 under the Companies Act.R Jindal Shallu Jindal Total Financial performance The financial performance of the company is given below Particulars Share capital 10. 2004 the name of the said company was changed to Gagan Sponge Iron Private Ltd.09) Nil (109.380 (156.000 Equity Shares of Rs.000 83.900.00 0.00 (13) Opellina Finance & Investment Pvt.097.

000 Equity Shares of Rs.16 0. Anand Goel. Ltd. Deepak Bhat. 1995 and is engaged in the business of finance. Investment and finance related consultancy services.693) Nil (114) (178) 1. Surendranath and Mr.56 - .000 19.98 16.050 1.598 21.13 0.100) 0% Cumulative Redeemable Preference Shares of Rs.00 The Company was incorporated on December 9.000 10.4) (69.600 1.700 (7. of Shares 8.100 1. Saraf and Mr.00 100.26. 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. Animation Finvest Pvt. Welworth Equifin Pvt. K.00. Jindal Holdings Ltd. Jindal Equipment & Leasing Consultancy Services Ltd.) (14) Baltimore Trading Private Limited 100.600 119.) BV (Rs. It is mainly in the business of investments and trading in securities. Ltd.” with effect from March 23.000 2. R.000 119.452.14 0. Ltd. TOTAL No.670.202 % of shareholding 36.348 Nil 2.00 100. Ltd.110.00 . Gati Securities Pvt.651. Wavelength Capital & Finance Pvt. Ltd.475 20. Ltd. The Company was reconverted into a private limited company on July 26.000 950 900 2 704. Ltd. Ltd. 100/. Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Vrindavan Services Pvt.098) Nil (26. Starlight Equifin Pvt. 1998. The Company’s board of directors comprises Mr.15 0.40 16.000 % of shareholding 80.144. 2002.00 20.13 0.065 1892. Naman Enterprises Pvt.000 200.2) FY03-04 FY02-03 FY01-02 No.98 0. of Shares 260. Gagan Trading Co.each Reserves and surplus (excluding revaluation reserves) Sales PAT Dividend (%) EPS (Rs. The Board of directors of the company comprises Mr.41.000 74.217.5 100.10/-each 19.000 Nil Nil Nil (264. 1994 as a private limited company and converted into a public limited company “Baltimore Trading Ltd. V.92 28.Information Memorandum The Company was incorporated on March 20.646 (1.000 192.000 Nil 219.

43 FY 03 704.00 1 0.79) (16) Aras Overseas Private Limited The company was incorporated on September 7. 1998.000 32.04) (15. . 1994 as a private limited company and converted into a public limited company “Aras Overseas Ltd.25) (0.30) (0. 100 each) Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS Rs BV Rs 2003-04 806.88) (0.24) (47. Jindal Holdings Ltd. Mr. The company is in the business of investments and trading in securities. The company was reconverted into a private limited company on August 9. V.00 806.23 225. of shares % of shareholding 260.60) (0. This company is in the business of investing and trading in securities.47 FY 02 704.89 173.57 - . 1994 as a private limited company and converted into a public limited company “Kamshet Investments Ltd.03) 31.” with effect from March 23.87) 2001-02 806. Ltd.Information Memorandum Financial Information The financial performance of the company (Rs. P.31) (0. Garg. Mr.60 (934. R. 1998. in lacs) is given below : Particulars Equity Share Capital (Shares of Rs. Rajeev Pai.603 100 Financial Information The financial performance of the company (Rs.04) 31. Jindal Equipment & Leasing Consultancy Services Ltd. The Board of directors comprises Mr.17) (0. Ltd.20 (482.58) 0.” with effect from March 23. Vijay Maniar Total No.33) (0.300 18.49 (15) Kamshet Investments Private Limited It was incorporated on November 16.60 (933.) FY 04 704. V.00 (0. Kole and Mr.83) 2002-03 806.100 each) Reserve and surplus Excluding revaluation reserve Income PAT Dividend EPS (Rs. Atul Sud Mr. The Board of directors comprises Mr.76) (15.20 (482.) BV (Rs. Gagan Trading Co.005 (0. Mr.99) (385. 2002. Dileep Bhatt. The company was reconverted into a private limited company on July 26. in lacs) is given below: Particulars Equity Share Capital (shares of Rs.39 2 0.60 (934.02) 31. Shareholding Pattern The shareholding pattern is as follows: Shareholder Vrindavan Services Pvt.000 27.300 21.49 148.20 (482.29) (0. Surendranath and Mr. Apurva Jhalani.P.04) (15. 2002.42) 20.

28 0.002 % of shareholding 41. Ltd.000 107. Naman Enterprises Pvt.500 1.51 15. It is mainly in the business of investments and trading in securities.760 1.00 100.012 % of shareholding 28.79) (0.00 (351.000 102.10) 44.46 12.00 (350.29 0.23 0. Starlight Equifin Pvt.00 .25 0. Gagan Trading Co. Ltd. of shares 260. Starlight Equifin Pvt.020 621. Ltd.080 1. Ltd. Gati Securities Pvt. Ltd. Naman Enterprises Pvt.41 16.) FY 04 633.16 100. 2002. 1994 as a private limited company and converted into a public limited company “Wachovia Investments Ltd.17 0. Ltd. Ltd.21 0. The company was reconverted into a private limited company on August 9. Wavelength Capital & Finance Pvt.48 FY 02 633.000 175. Deepak Bhat.65 16. Ltd.000 164. Welworth Equifin Pvt. Ltd.00 (351. 100 each) Reserve and surplus Excluding revaluation reserve Income PAT Dividend EPS (Rs. Total Financial Performance The financial performance of the company (Rs.005 (0.500 82. Ltd.63) (0.21 0. Jindal Holdings Ltd.00 (17) Wachovia Investments Private Limited This company was incorporated on November 16.505 96. Animation Finvest Pvt. P. Ltd.44 FY 03 633.18 26.440 1.840 1.) BV (Rs.58 - . Animation Finvest Pvt. Ltd. Mr. Jindal Holdings Ltd.41) 0.98 13.48 0. Ltd.27) (0. 1998. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.200 1. Ltd. Wavelength Capital & Finance Pvt.03 0.Information Memorandum Shareholding Pattern The shareholding pattern is as follows: Shareholder Vrindavan Services Pvt.360 2 633.68) (0. Its board of directors comprises Mr. Ltd.380 1.07) 44.505 1.19 0. R.” with effect from March 23.45) (0. of shares 175. Gati Securities Pvt. Vrindavan Services Pvt.22 0. Kole and Mr. Shareholding Pattern The shareholding pattern is as follows: Shareholder Gagan Trading Co.07 27.320 1. Jindal Equipment Leasing Consultancy Services Ltd. No.002 77. Ltd. Welworth Equifin Pvt.58 No. Rajeev Pai. Jindal Equipment Leasing & Consultancy Services Ltd.04) 44.600 1.

64 FY 03 2.84 (4.08) (22. The company was reconverted into a private limited company on August 26.000 5. Mr. Dileep Bhatt.14) (18) Argil Properties Private Limited (APPL) APPL was incorporated on July 6.77) (0. K.S.70 (2. P. . The board of directors comprises Mr. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.” with effect from March 23.70 3. The company is mainly in the business of investments and trading in securities.51) (2.000 5.04 100.50 18. Krishne Gowda. 1994 as a private limited company and converted into a public limited company “Musuko Trading Ltd. P.22) 2001-02 621. Kole and Mr. 1998. Rishikesh Finlease & Investments Pvt. Ltd. of Shares 5.100 each) Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs. Gagan Trading Co.Information Memorandum Financial Performance The financial performance of the company (Rs.50 18. Meredith Traders Pvt.70 (2.40) (22. Vrindavan Services Pvt.51) (0. Mr.000 5. Chari and Mr.46) 0. Shareholding Pattern The shareholding pattern is as follows: Shareholder Reynold Traders Pvt. Ltd.000 10 10 27. Sandip Sharma Mr.12) (0.50 18.020 % of shareholding 18.) FY 04 2. Company’s board comprises Mr.59 - . P.77) (22.63) (0. S. Devender Singhal Mr. Rashmi Khaitan Financial performance The financial performance of the company (Rs.79) 26.01 (0.32) 0.50 3. Rajiv Khaitan Mrs.64 FY 02 2.70 0.07) (0.01 (759.N.000 1. 1994 as a private limited company.71) (20.) 2003-04 621.51) (126. 2002.00 (19) Musuko Trading Private Limited (MTPL) MTPL was incorporated on November 14.000 1.26) 9. Ltd.) BV (Rs. Sriram.50 18.99) 2002-03 621.01 (763. M.90 No. Ltd.70 0. This company is in the business of real estate development.R.04 0.01 (758. Ltd. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.) BV (Rs.52) (9.000 5.02) (0.

39) (0. Ltd.01) 34. Ltd. Sushil Buwalka Mr. Its board of directors comprises Mr.08 (0.440 2 769.11) (0.) BV (Rs. I Qureshi. Ltd. 1985.60 - .22 0.06) 9.225 2.28 0.00 (20) Nalwa Chrome Private Limited This Company was incorporated on September 2.05) 33. Gagan Trading Co. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) FY 04 1. Gati Securities Pvt.990 4.24 19.79 29. Ltd.45 (513. Ltd.00 .000 225.10 0.990 10 10 10.100 each) Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs. Naman Enterprises Pvt.003 No.27 0.452 % of shareholding 33. Ltd.00 (0.00 100. Jindal Equipment & Leasing Consultancy Services Ltd. Ltd.N.45 (505.95 1.00) (0.620 1.27 0.000 150. Total Financial Performance The financial performance of the company (Rs. of shares 4. Starlight Equifin Pvt. Vrindavan Services Pvt. of Shares 260.) 2003-04 769. Ltd.35 2002-03 769. K. Welworth Equifin Pvt.33 No.03 34.45 (505.225 125.21 0.90 49. Wavelength Capital & Finance Pvt.16) 0. Shyamlal Agarwal Total Financial Performance The financial performance of the company (Rs.90 0.36 2001-02 769. Shareholding Pattern The shareholding pattern is as follows: Shareholder Sun Investments Pvt. Sanjay Agarwal. It has made strategic investment in the shares of South West Port Limited. Sriram and Mr.S.070 1. Jindal Holdings Ltd.00 FY 02 0.52 16.710 1. Mr.Information Memorandum Shareholding Pattern The shareholding pattern is as follows: Name of the Shareholder Vrindavan Services Pvt. Ltd. Mr. Ltd. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.03 7.10 100.000 % of shareholding 49.19 0.160 2.09) FY 03 1. Animation Finvest Pvt.

R.53) No. Sangita Jindal Mrs. Shareholding Pattern The shareholding pattern is as follows: .94 49. Sajjan Jindal Mr.00 (0.02 0. Kole and Mr. Dileep Bhatt.000 % of shareholding 0. O. R.007 (0. of shares 10 10 10 10 10 10 10 24.43) NA NA NA NA 9.92 100.P.20) (0.Information Memorandum Misc. Anilkumar Agarwal. Bhalerao. Ltd Gagan Trading Co. Asha Agarwal Sun Investments Pvt. Sushil Bhuwalka Mr.02 0. Jindal. Shyamlal Agarwal Mrs.960 50.02 0.09) (0. 1985 as a public limited company.24) 7. Expenditure not written off/Preoperative Expenses Income PAT Dividend EPS (Rs.60 (0. Jindal Mr. Ltd Total Financial Performance The financial performance of the company (Rs.00 The company was incorporated on February 28. The board of directors of the company comprises Mr.38) NA NA NA NA (530.02 0. Mr.970 24. Mr. P. R.) BV (Rs. 10 each) Reserve & surplus Excluding revaluation reserve Misc. 1995. P. Urmila Bhuwalka Mrs. Mr. R.22) (719.02 0.19 FY 02 0.10 (0. The company has not yet commenced commercial activity. D. expenditure not written off /Preoperative expenses Income PAT Dividend EPS (Rs.) BV (Rs.) (22) Kavita Securities Private Limited FY 04 5. Shareholding Pattern The shareholding pattern is as follows: Shareholder Mr.02 0.95) 7. V. This company is mainly in the business of investments and trading in securities.13) (21) Maharashtra Sponge Iron Limited Maharashtra Sponge Iron Limited was incorporated on September 2. Jayaraman.) (0.02 49. The company’s board of directors comprises Mr. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.00 (0.13 FY 03 5.61 - . Surendranath and Mr.40) NA NA NA NA 9.

Surendranath.98 20. Ltd. Apurva Jhalani.R. of shares 1 1 2 % of shareholding 50.Ltd.00) (5461814) 2001-02 0. The board of directors comprises Mr. Shareholding Pattern The shareholding pattern is as follows: Shareholder Gauri Investments Pvt. Gati Securities Pvt. Kole and Mr.) BV (Rs. Welworth Equifin Pvt.) BV (Rs.14) (7157. 100 each) Reserve and surplus Excluding revaluation reserve Income PAT Dividend EPS (Rs. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs. Ltd. Ltd.01) (5348) 2002-03 2.98 22.50) (5452869) No. Silky Investments Pvt.64) (5335) (23) Laptev Finance Private Limited Laptev Finance Private Limited was incorporated on February 6.00 50.93) (0. V.00 The financial performance of the company (Rs.16) (7.76) (8. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs. Total Financial Performance The financial performance of the company (Rs.00 (108.) 2003-04 2.) 2003-04 0. Starlight Equifin Pvt.98 17. of shares 2 440 320 360 420 460 2002 % of shareholding 0. 100 each) Reserve and surplus Excluding revaluation reserve Income PAT Dividend EPS (Rs.00 100. Wavelength Capital & Finance Pvt.36) (0.19) (9770. Ltd.22) (0. P.002 (109. Ltd.002 (109.10 21. Ltd.14) (7.07) (0.00 (109.98 100. Animation Finvest Pvt. Ltd. Mr.12) (405.00 (108.50) (5468146) 2002-03 0.62 - .84) (5342) 2001-02 2.98 15.03) (8. Total Financial Performance No.Information Memorandum Shareholder Naman Enterprises Pvt.002 (109.12) (405937.00 (24) Sapphire Technologies Limited . It is mainly in the business of Investments and Trading in securities. 1995.

08 0.00 .63 - .) BV (Rs.47) (2. Ltd.90) (5. Animation Finvest Pvt.70) (3. Its board of directors comprises Mr.15) (0. Wavelength Capital & Finance Pvt. Sriram K. Shareholding Pattern The shareholding pattern is as follows: Shareholder Welworth Equifin Pvt. Shireesh Wagh Mr. of shares 1.150 900 1.02 100.N. N. Raman Madhok Mr.25.86 0. of shares 1. K. Mr. Dr. Gagan Trading Company Ltd.07 (21.99 17.99 20.000 200 100 100 100 100 100 2.04 0. Ltd.002 % of shareholding 22. Ltd.83 1.25. Kole and Mr. Purohit Total No. It is mainly in the business of investments and trading in securities. Ltd.50.Information Memorandum This Company was incorporated on October 5. Vrindavan Services Pvt.02 0. Patel. Mr.700 % of shareholding 49.04 0. Ltd.) (25) FY 04 25. Ltd. Jayant Acharya Mr.29 4.000 1.95) No.99 0. Ltd. 2000 as a public limited company to carry on the business of software development.60) 121.70) 20.S. Jain.07 (12.31 (8.07 (8. The Company has developed a portal “Steelemart.04 0.99 15. N. Nirmal Kumar Jain Total Financial Performance The financial performance of the company (Rs.com” through which it conducts auctions for facilitating sale of steel products.61) 14. Starlight Equifin Pvt. to act as consultants and advisors on information system etc. K.44 FY 03 25.050 800 1 1 5.04 0. P.99 21.00 Rishikesh Finlease & Investments Private Limited Rishikesh Finlease & Investments Private Limited was incorporated on August 12. Gati Securities Pvt. K.81 (12.100 1. Kantilal Narandas Patel Mr. Shareholding Pattern The shareholding pattern is as follows: Shareholder Reynold Traders Pvt.86 49.04 100.93 4.R. Raman Madhok. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs. Nowal and Mr.30) FY 02 25. V. Manish Shah P.S. Its board of directors comprises Mr. 1994.

95) FY 03 5. 1994 as a private limited company. Shareholding Pattern The shareholding pattern is as follows: Shareholder Reynold Traders Pvt.01) 1. Total Financial performance The financial performance of the company (Rs. 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.91 (1736.000 % of shareholding 50.79) (0.74) 1.64 - .) (27) FY 04 5.57) (934. Mr.000 50.000 each. Patel.18) (26) Naman Enterprises Private Limited Incorporated on April 19.00 (11. Mr.00 Jindal Technologies & Management Services Private Limited (JTMSPL) JTMSPL was incorporated on December 3.27 0.19) (0.22) (847. Ltd. Bavneesh Gulati. Its shares are held by Vrindavan Services Private Limited and Sun Investment Private Limited equally.00 (47.35) (1737. the number of shares being 5. 2003 to carry on the business of Management & Engineering Consultancy Services. Ltd. Deepak Bhat.) FY 04 5.95) FY 02 5. Nowal. V. (28) Jindal Coated Steel Private Limited .96) 2700.00 (51.37) (0. V Surendranath and Mr.Information Memorandum Financial Performance The financial performance of the company (Rs.45) FY 02 5. K.00 50.50 (4.00 100.17) (1724. The company’s board of directors comprises Mr. the company is in the business of property development.32) (934.00 (873.02) FY 03 5. Apurva Jhalani. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs. Mr. Rishikesh Finlease & Investments Pvt. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.56) (11.18 (0.63) No.K. Rajeev Pai and Mr.N.00 (862.95 1. Board of directors comprises Dr.77) 0.100 each) Reserve and surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.) BV (Rs.) BV (Rs.37) (87.00 (51.00 (873. of shares 25.03) (0.38) (13.000 25.

1996 as a private limited company.92) 0.) FY 04 2200.009) 5. 2001 and the company was reconverted into a private limited company with effect from July 26.000.00 (1051. P. K.00 .05) 5. Raman Madhok and Dr. Shareholding Pattern The shareholding pattern is as follows: Shareholder Reynold Traders Private Limited Tranquil Homes & Holdings Pvt. P.28) (0.00 (1053.) BV (Rs. Mr. The name of the company was changed to “Jindal Coated Steel Ltd.49) (0. Limited V.22 FY 02 2200.00 100.000.” on August 6.900 4. Ltd.00 (29) Dhaman Khol Engineering & Construction Co. 2002.13) 5.02 (0. R. Garg.Information Memorandum The company was incorporated as a private limited company “JBS Steel Products Pvt. 1996 and was converted into a public limited company “JBS Steel Products Ltd.00 (0. 1998. However the project was shelved due to uncertain outlook in the steel market.92 (29.000 % of shareholding 49. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Miscellaneous Expenditure not written off FY 04 1.42) 0. Jain. of shares 11. Total Financial performance The financial performance of the company (Rs.60 FY 02 0.” on December 12.000 11. Mr.00 0. Sriram K S N.000. D.09) (0.83) 8.00 100.00 (1039.00 1. The company’s Board of Directors comprises Mr. Shareholding Pattern The shareholding pattern is as follows: Shareholder Jindal South West Holdings Limited Sun Investments Pvt.00 1.63 0.000 % of shareholding 50. in lacs) is given below: Particulars Equity Share Capital Reserve & surplus (excluding revaluation reserve) Income PAT Dividend EPS (Rs.65 - . of shares 4.21 FY 03 2200. Presently the company is in the process of diversifying into other business activities.00 50.000 22.81 (11.85) (0.66) No.53 (2.99) 16.” with effect from February 23.27 No.900 100 100 10. Bhalerao and Mr. Garg Girish Ghate Total Financial performance The financial performance of the company (Rs.53 FY 03 1. Nowal. The company had commenced a project for setting up an organic coated steel plant.00 49. The company’s board of directors comprises Mr. V. V. Ltd. N. The Company is in the business of trading in steels and also has made strategic investment in South West Port Ltd. K. Private Limited Incorporated on January 12.

Sajjan Jindal Mr.74 13.77 20.31 234. Karnataka.K. Limited Vrindavan Services Pvt.88 278.) BV (Rs. Sajjan Jindal Mr.499.00 295.90) JTPCL was incorporated on March 10.400 12.100 102.96 12.T. District Bellary.35) (459.56 1.55 21.00 100. P.160.) (30) Jindal Thermal Power Company Limited 430.00% 50.05 10.38% 35. Raaj Kumar Mr.14) (1.000 29.655.73 No. R. Krishna Deshika Mr.000. Balaji Swaminathan Mr. Raman Madhok Mr. Limited Total Financial Performance The financial performance of the company (Rs. The plant has been operating since January 2000 at PLF of over 95%.47 FY 02 289. Jayaraman Iyer Shareholding Pattern Shareholding Pattern is as follows: Shareholder Jindal Strips Limited Jindal South West Holdings Limited Mr. K.000 289.40) (0.00% 4.33 (0. N. It is engaged in the business of power generation.48 (11. of Shares 100 100 100 100 100 144. The Board of Directors comprises: Mr.35% 10. Jain Mr. Ratan Jindal Jindal Vijayanagar Steel Limited Gagan Trading Company Limited Sun Investments Pvt.01) 41.13) (0. in crores) is given below: Particulars Equity Share Capital Reserve & surplus Excluding revaluation reserve Operating Income PAT Dividend EPS (Rs. Prithvi Raj Jindal Mr.685.03)(15.43 195.46 0.20 56. JTPCL has set up a 2X130 MW thermal power plant.56 6. in Toranagallu village.00% 0.24 FY 03 289.66 - . 1994.11 1.) BV (Rs. JTPCL consumes about 20 MW as auxiliary consumption and supplies about 140 MW of power to JVSL and about 100 MW to KPTCL.) FY 04 289.00% Chairman Vice Chairman Joint Managing Director & CEO Director Finance Director Director Nominee of ICICI Nominee of IDBI .00 79.00% 0.Information Memorandum Income PAT Dividend EPS (Rs. Abraham Mr.27% 100.00% 0.000 % of Shareholding 0.00% 0.00 231.

) (32) FY 04 Rs.00% 0.600.739.86 No.05) NIL Commercial Operation yet to begin Commercial Operation yet to begin Nil Commercial Operation yet to begin Rs.02% 12.200.000 200. J.640. which will be captive to Jindal Vijayanagar Steel Limited (JVSL).500 Cr. Sanjay Sagar Mr. The scheduled time for commissioning of Unit I is April 2005 and for Unit II is October 2005. 6. The plant. JPL is promoted by Jindal Thermal Power Company Limited and the other Companies of the Groups.000 % of shareholding 0. which uses COREX technology from Voest – Alpine. The company is also now setting up of two 30 MW power plant in SISCOL premises.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.T.000.01% 0.67 - . Krishna Deshika Mr.700 100 100 100 33.K. N. JPL is setting up two power plants with the capacity of 100 MW each. Raaj Kumar Mr. 1994. Upinder Singh Mr. 9.50% 0. of shares 5000 55.959.43% 5.2 crores (as on 3. 78.26% 3. Bellary District.400 26. 2003 under the Companies Act.000 78.Information Memorandum (31) JSW Power Limited (JPL) JPL was incorporated on January 3. 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. Austria is the first plant to . 1956. K. Spread over 3500 acres of land. namely: Unit I and II.00% 43.) BV (Rs. has a production capacity of 2.000 10. JVSL's plant located at Toranagallu.93% 34. K.00% 0.000 2.07% 0.600 4. Jain Mr. Company’s board of directors comprise of the following directors: Mr.5 mtpa of HR coils with an investment of around Rs.3. It has been promoted by JISCO and its associated companies and Karnataka State Industrial Investment Development Corporation Limited (KSIIDC).79% 100.

74% 4.08 Nil 3590.72% 6.69 # Previous years’ EPS has not been recomputed on the basis of share capital re-organized in the year 2004-05 as per the terms of the Scheme of Arrangement & Amalgamation.Institutions /Non-Government Institutions) FIIs Sub .28 2002-03 1352.) # BV (Rs.Indian Promoter's . Shareholding pattern as follows: - Category A Promoter's holding Promoter's * 1 2 B 3 A B .Total Grand Total No. Financial Performance The financial performance of the company (Rs.03% 22.53% 0. JVSL manufactures high quality Hot Rolled Coils.25% 3.Foreign Promoter's Persons acting in Concert Sub .49 528.00% Stock Market Data .41% C 4 A B C D 28028571 7901485 39035198 4346484 21715128 2354540 684458 43980 29144590 129039142 21.82% 0.04 (110.59% 100. Finacial Institutios.92 6.13 2329.90 870.) 2004-05 469. JVSL was set-up as a backward integration facility for production of hot rolled coils for JISCO.16% 3105142 2.97 7035.12% 30.00% 47. of Shares held % Shareholdings 55154742 5704612 0 60859354 42. in crores) is given below: Particulars Share capital Reserves and surplus (excluding revaluation reserves) Sales (including Excise duty) PAT Dividend (%) EPS (Rs.42% 0.37% 16.03 Nil 2786.30 2003-04 1631. Plates and Sheets and is the only flat Steel Producer in South India.Information Memorandum use oxygen-based Iron and Steel making in the country with continuous casting and hot strip mill.83% 1.86) 1.Total Others Private Corporate Bodies Indian Public NRIs/OCBs Any Other(Please Specify) Trust Huf Sub .11 80% 64.68 - .67) Nil (0. Insurance Companies (Centeral/State Govt.98 195.68 Nil 3.Total Non-Promoter's Holding Institutional Investors Mutual Funds and UTI Banks.

Ramaswamy P. Singh Mr.I.K. 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.65 13.) 458. facilitating for organic and inorganic growth.65 22.90 14. Gokul Ram.00 14.75 12. S.70 22. Board of Directors details as follows .00 18.V.) Low (Rs.79 12.049. 391. 35 crores.80 18. Savitri Devi Jindal Mr. The said scheme has been sanctioned by the Hon’ble High Court of Mumbai and Karnataka and has since become effective from 4th February.N.10.25 15.) Low (Rs. Gupta Mr. The average time taken by the company for redressal of complaints varies from 7 to 15 days. JSWHL and JVSL (“scheme”). N. JVSL as a consolidated entity has acquired significant strength with strong financials.95 18. The scheme has been made effective on October 3.Information Memorandum Month/Year March/2005 Februvary/2005 January/2005 December/2004 November/2004 October/2004 BSE High (Rs. Sajjan Jindal Dr. Through a scheme of Arrangement and Amalgamation between JISCO. Aiyar (33) Jindal Steel & Alloys Limited Chairperson Vice Chairman & Managing Director Jt.90 14.30 and the market capitalization was Rs. the steel business of JISCO has been merged with that of JVSL from the Appointed Date 1st April. Seshagiri Rao M.) 457. 5127 complaints have been resolved and 154 complaints are pending. Managing Director & CEO Jt. depending on the type of complaint. Balaji Swaminathan Mr. 5. Pursuant to scheme of arrangement sanctioned by High Court of Punjab & Haryana.00 13.03.10 NSE High (Rs.35 The market price of shares of JVSL (as on April 4.69 - . R. Anthony Paul Pedder Dr. 2005.M. 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.N.99 11. After the merger. 2000.2004 to 31. B.50 356. 2003. 2005) on BSE was Rs.00 11.67 12.40 356.40 11. The Board of Directors of the merged entity comprises: Smt. Out of 5255 complaints (related to shareholders) received during the period 01.2005.40 11. Roy Mr.20 15. The company was incorporated on June 10.80 18. IAS Mr.S Dr. Raman Madhok Mr. 2000 (appointed date) on a going concern basis for a consideration of Rs. 1993 in the name of Kay Kay Cold Storage Private Limited. Vittala Murthy. The name of the company was changed to Jindal Steel and Alloys Limited. The manufacturing facilities of the company has been given on Conducting agreement basis for a period of 33 months commencing from 1st June 2003 and ending on 28th February 2006 to Jindal Vijayanagar Steel Limited for the consideration of Rs 50 Lacs per month. The company has its investor service center at Mumbai and has engaged the services of a Registrar & Transfer Agents to handle investor grievances. David Chandrasekaran Mr. IAS Mr.30 crores.

It is in the business of mining and extraction of minerals. N.00 3075.70 - .24 54. Raman Madhok. Smt.00 . B. Mr.Information Memorandum Name Mr.0014 100 0.00 10000 100. K. N.68 109.06 21569. Mr.0014 100 0.56 52. Nowal Mr. Patel Mr. V. S.0000 The financial performance of the company (Rs.0071 100 0. Jija Madhavan Hari Singh.00 3000 30. O.02 The company was incorporated on June 17. P. K. Ratan Jindal Mr. Venkateshan and Mr. K. N.500 99. P. Anil Sood.00 2951. Yogendra Tripathi.78 1. in lacs) is given below: Particulars Share capital Reserves and surplus (excluding revaluation reserves) Sales (Net of Excise) PAT Dividend (%) EPS (Rs.0014 100 0. Vinod K.) (34) Vijayanagar Minerals Private Limited (VMPL) FY03-04 702.83 9808. Sushil Bansal Mr. Limited Total Financial performance No.9786 500 0. Dr. Mr.00 1500 15.27 0. Rajeev Pai Mr. Kole Mr. P. ores etc. The board of directors comprises Dr.00 1500 15.82 FY02-03 702.0014 7020000 100.00 3005.0071 500 0. Patel Mr. Om Prakash Agarwal Shareholding Pattern is as follows: Shareholders Jindal Strips Limited Mr.34 17005. M. of shares % of shareholding 70. A. Jindal Mr.00 53. metals. Ram Chandra Sharma Dr. Rajeev Pai Total Financial Performance: Designation Managing Director Director Director Director Director Director Director Director No. Subhash Sharma Mr.49 1. Mr. Singh.77 52. Jain Mr. Gupta.80 FY01-02 702.28 70. Krishne Gowda.0014 100 0. R. of Shares % of shareholding 4000 40. N.18. K. U. Shareholding Pattern The shareholding pattern is as follows: Shareholders Jindal Vijayanagar Steel Limited Mysore Minerals Limited Gagan Trading Company Limited Sun Investments Pvt. Singh. Mr. 1997. Raman Madhok Mr.) BV (Rs.

It also has plants for generation of power and production of oxygen. Air Separation plant in June 1999 and Bar and Rod Mill in May 2002.90 (568.664.16) 2. Shareholding Pattern The shareholding pattern as on December 31. LMW has sold their entire shareholding in SISCOL to the Jindal South West (JSW) Group. of Shares 3. Shanmugasundaram. S. The capacity of the plant is 0.30 0. The Company started commissioning its units with iron making division and power plant in 1996. T. 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.45) 10 FY 02 0.71 - .289.50.00020 (568. P. 1995.08 0. V. FIs and Insurance Companies Private Corporate Bodies Indian Public NRIs/OCBs Total Financial performance The financial performance of the company (Rs.04 100% . Prakash.000 3.92 50. Vijay Sharma. In terms of the CDR approval and as per approval by the shareholders of SISCOL and by SEBI.55. Bars and Rods at its integrated steel plant located at Pottaneri/M.974 3. Kamal Kishore Gupta and Mr. The Company operates an integrated steel plant having facilities for production of Pig Iron. which is headed by Mr.74 (61.10) 1.01 3.100 7. Kalipatti villages.93 45.88 166. Steel Billet and Rolled Steel products in the long product category.00 (629. K.64 0. 2004 within the meaning of the Sick Industrial Companies (Special Provisions) Act.000 82. Mr. The Company is in the business of manufacturing Pig iron. Sajjan Jindal) (b) TIDCO Sub Total (a)+(b) Other Shareholders Mutual Funds and UTI Banks.82. V.100 29. Mr.39 10 FY 03 1. (TIDCO).50. Krishna Deshika.Information Memorandum The financial performance of the company (Rs.3 mtpa. Jain.) BV (Rs. 2004 is as follows: Category Promoters and Promoter Group (a) JSW Group (including Mr.in lacs) is given below: No. in lacs) is given below: Particulars Equity Share Capital Reserve and surplus (excluding revaluation reserve) Sales PAT Dividend EPS (Rs. K. Lakshmi Machine Works Ltd. The Company has become a Sick Company as on June 30.39.850 % of shareholding 39.051. N.00 (463. Mr. Sajjan Jindal.71. Mr.00.) (35) FY 04 1.10) 10 Southern Iron And Steel Company Limited (SISCOL) Southern Iron and Steel Company Limited (SISCOL) was incorporated on September 11. Sinter plant in August 1997. (LMW) and Tamil nadu Industrial Development Corporation Ltd. Billets.700 10. The board of directors of the company comprises Mr.00. Mr. 1991 as a Public Limited Company promoted by M/s. and is referred to BIFR.000 56.42.55) 1. Steel Melting Shop in January 1999.21.976 29. Kshirsagar.71 10.

2005.67) 10. operating and maintaining two dedicated bulk cargo berths at MPT on a build.85 24. Raman Madhok. Sajjan Jindal.24 7607.The market price of shares of the company (as on April 15. Nowal. & Const.49) Nil (20.25) FY02-03 16039. equipping.12. The company’s name was subsequently changed to SWPL in September 2003. Captain B. 2005 and closes on April 29.43 (4570.47) Nil (6.05 20.182. Pvt. of shares 1. engineering. Saket Agarwal. financing.43) Nil (3. SWPL has entered into a license agreement with Mormugao Port Trust (MPT) on April 11. The average time taken by the company for redressal of complaints is up to two weeks. The board of directors of the company comprises Mr.20. V.J.96 4930. resolved/replied 16 and Pending Nil.K. designing.45 Low (Rs.72 - . Mr. 2005 – Received 16. (C) Associate Companies (1) South West Port Limited (SWPL) SWPL incorporated on June 26. Nasser Munjee and Mr.00 21.) 14.24 7607.06 FY01-02 16039. depending on the type of complaint. own. Ltd No.75 34. 1999 for the development. (including nominees) Dhaman khol Engg. The company has engaged the services of a Registrar & Transfer Agent to handle the grievances of the investors. Co.85 51. 1997 as a private limited company known as ABG Goa Port Private Limited and promoted by ABG Heavy Industries Limited (ABGHIL). Status of Investor Complaints received during the period from October 2004 to March.11 The Company’s rights issue is open since March 31.23 .20.24.05 crores.31) (16. owning.) BV (Rs.80 FY03-04 (15 months) 16039.10 18.000 % of shareholding 26.96 34144.60 23.80 21.96 26844.05) 4. Sharma (Joint MD & CEO).24 7607.K. Dr.000 84. Shareholding Pattern The shareholding pattern is as follows: Shareholder ABG Heavy Industries Ltd.) 18. Mr.95 15.30 23.56 (15340. operate and transfer (BOOT) basis.38 (2771.V.00 18.10 and the market capitalization was Rs. 2005) on BSE was Rs. constructing.) Stock Market Data Month October 04 November 04 December 04 January 05 February 05 March 05 BSE High (Rs.Information Memorandum Particulars Share capital Reserves and surplus (excluding revaluation reserves) Sales PAT/(Loss) Dividend (%) EPS (Rs.

Jain. of shares 11. Mr.42 3. Mr.17 100. Mr.01 NIL 2.00 450.10 NIL 1.00.20. Sharad Madhok. Nitrogen and Liquid Argon.36 9.00. Venkatesh Prabhu and Mr. John Panikar.11 11. in lacs) is given below: Particulars Equity Share Capital (Shares of Rs.17 1.200.000 3. Vikas Sharma.571.21 9. Muralidhara.24. However.01 12.01 --53. Shareholding Pattern The shareholding pattern is as follows: Shareholder Praxair Pacific Private Limited Jindal Vijayanagar Steel Ltd. no profit and loss account has been prepared by the company. Ltd.00 26.00 7. N.31 16.604.248.00 4.11 25. 9.98 9. Nalwa Chrome Pvt.910.81 9.) FY 04 3497. 1995 and manufactures liquid and gaseous Oxygen.00 After March 31. K.938 1.) Note: Audit for FY 2004 has not been completed yet.) BV per share (Rs.00 100. Financial performance The financial performance of the company (Rs.79 845.000 23.03 NIL 1. The Shares of the SWPL are not listed. Mumbai. in lacs) is given below: Particulars Equity Share Capital Advance against Share Capital Reserve & Surplus Miscellaneous Expenditure not written off BV (Rs.79 22. 2004 the Company has issued 11229900 equity shares.000 15.80.47 2.600.89 27. Gerry Reidy. C.000 % of shareholding 74.000 45. Mr. I.85 FY 03 1150. The Board of Directors of the company comprises Mr. Asit Gangopadhyay. (2) Jindal Praxair Oxygen Company Private Limited (JPOCL) JPOCL was incorporated on September 27. Ltd. (Including Nominees) Silver Steel Ltd Total 1. Qureshi.43.02. Moosa Raza.K. Mr.00 --7.37 2. 10 each) Reserves and surplus (excluding revaluation reserves) Income (incl.718.91 13. Mr.85 Since the company had not started commercial operation till FY04.82 FY 02 550. other income) PAT Dividend (%) EPS (Rs.24.5% Secured Redeemable Non Convertible Debentures of the Company are listed on The Stock Exchange.10. Mr.95.20. Mr.200. Kalyana Sundaram.00 15. Total Financial performance The financial performance of the company (Rs.73 - .752.Information Memorandum Tranquil Homes & Holdings Pvt.00 -28.59 No. Mr.062 4.00.62.877. FY 2003 FY 2002 FY 2001 15.551.00 .

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

Information Memorandum MANAGEMENT DISCUSSION & ANALYSIS Performance in successive periods The Company was incorporated on July 12. no Profit & Loss account was prepared. the Income of the Company for the year ended March 31. 1956.70 lacs. instrument. any adverse financial impact on the operations / business / performance of investee companies will have negative impact on the revenue of JSWHL.06 lacs. stands transferred to and vested in JSWHL. 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. 2005 stood at Rs. the Investment Division of JISCO. After giving effect to the above Scheme during the Financial Year 2004-05. or deed. 5 lacs and made investments in Jindal Group Companies to the tune of 8. 5 lacs and incurred pre-operative expenses to the tune of Rs. 0.28 lacs. 560. Therefore. The share capital of the Company stood at Rs. 52121. Risk & Concerns JSWHL’s main source of income is dividend on investments made in listed / unlisted companies. The Company raised equity share capital of Rs.48 lacs.75 - . Pursuant to the Scheme of Arrangement and Amalgamation approved by Hon’ble High Courts of judicature at Bombay and Karnataka. pursuant to the provisions of Section 391-394 of the Companies Act.96 lacs as against Reserves and Surplus of Rs. 2001.66 lacs mainly comprising of dividend and interest income and the Profit after Tax amounted to Rs. 0. the Company continued to hold its investments in Jindal Group Companies in addition to providing of consultancy services. .50 lacs. In financial year 2003-04. During financial year 2002-03 the Company raised additional share capital of Rs. 1109. 529. without any further act.

10 each for cash at par aggregating Rs. The actual project cost up to March 31. 1995. Delay in disbursal of loans and non-receipt of call money caused a further delay in project implementation. 1090 crores.50 crores.00 162.23 183.50 crores and (b) 35.00.20 47.25 mtpa of HR coils in June 1994 was estimated to be Rs. 25.00 614.93 1740. Capitalisation of preoperative expenses incurred during prolonged trail run.00 17. hot charging systems in Hot Strip Mill were added to enhance the overall capacity of the integrated steel plant to 1.000 equity shares of Rs.48 (29.29 (148. increase in interest during construction and foreign exchange variation also resulted in a cost overrun of the project.00 317. Public Issue of Southern Iron And Steel Company Limited The Company had come out with two simultaneous but unlinked issues of (a) 1.Information Memorandum PROMISE VERSUS PERFORMANCE The details of shortfall in promise vs.00.00 34. When the company started operation of the integrated steel plant after recommissioning of Corex. 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 621.78 197.08 1548. These issues opened for subscription on March 23.00 0.00 162.00 126.87 84.00 524.77) 1093. 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.30 (34. 24. Corex 1 was recommissioned after a lapse of one year by carrying out rectifications/modifications. 70 each for cash at par aggregating Rs. 3300 crores including margin money for working capital.43 23.00 537.50. Public Issue of Jindal Vijayanagar Steel Limited The company had come out with two simultaneous but unlinked public issues of (a) 13. These issues opened for subscription on February 10.25.00 738.68 21. modifications were effected to the basic design of the main plant and additional plant/facilities like pellet plant.00 (0. 135 crores and (b) 27.00 530.00 32.00 623.18) The project cost to set up an integrated steel plant of capacity of 1. 10 each for cash at a premium of Rs.00 320.67 80.57 mtpa.00 151.50. 2004 was Rs.00 78. 1995.00 134.00 725.18 (0.77) (34. 10 aggregating Rs.37 0.30) 0.04) (29.000 14% secured redeemable Partly Convertible Debentures (PCDs) of Rs. the steel industry as a whole witnessed historically low level of selling prices on account of a global down turn.04) 1220.00 129.00 134. The commissioning of the plants was delayed due to technological issues. converter caster.84) 801.18) (148. 6226 crores.84) (0. During the initial project implementation.00.76 - . 40 each for cash at par aggregating Rs.27. A comparison of promises versus performance is given below: .00 931.000 Partial Optional Convertible Debentures (POCDs) of Rs. A comparison of promises versus performance is given below: (Rs.92 1944.00 180.000 equity shares of Rs.

78 51.71) (21. competition. The lower capacity utilization was due to non-availability of input materials in time.00 (1.00% 87. adversely affected the equipment and the life of refractory lining. Due to frequent stoppage and start-up.87 5.45) 5. requires uninterrupted operations.00 86.16 62.66 75.71) (14. which added to the cost.78 75.50 230.e.98 46.91 3. Due to under-utilization of capacity at iron making and steel making stages and almost no capacity utilization in BRM.17 15.61) (18.70 10.37 (4.01 2.21% 65.55 (33. with pyro metallurgical equipment and machinery.% Net cash accruals Equity capital Reserves & surplus EPS (Rs.81 48. also substantially contributed to a high cost of production.47 28. The plant.95 7. The unscheduled stoppages .725 80.50 265.88) (12.00 70.725 70.80 14. 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 . which in turn was due to non-availability of working capital.42 0.00 161.86) Due to delay in disbursal of funds by the financial institutions for project completion.37 37.00 (2.725 41.35 65.61) (13.00 75. the fixed cost and semi-fixed cost components such as manpower.48) 17. The shutdown of operations.44 9.45 116.46 15.47 214.89% 293.Information Memorandum (Rs. especially at blast furnace.60 (7. While the cost of input.89) 19. Frequent shutdowns and start up at blast furnace has led to excessive consumption of costly input materials such as coke and furnace oil.72% 16.725 22.45) (4.42) 75. In view of external factors such as adverse market conditions.00 113.63 1.49 37.13 84.52) 17. The main reason for this was depressed steel market scenario with low demand and low selling prices. the selling prices showed a decreasing trend. Frequent stoppages of ASP caused substantial increase in cost of up-keep for the equipment.54 76.725 214.55 (33.77 - .00% 261.) Book value (Rs) 183.45 (12. electricity etc.88) (12.99 39.14 FY 98 Projection Actual 214.500 76. reduce cost of production and to improve quality.00 75.37) 70. mainly raw material.78 (24.19 214.51 - 47.28 0. which was even below the cost of production.00% Trial prodn. 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.74) 12.50 301. lower demand and lower sales realization.34 8.00 49.18) 75.08 (4.31 4. decrease wastage.12 21.44 7.00% 228.66 5.55 19.00 75. the Company took various steps to improve operational efficiency. blast furnace. Cryogenic equipment such as ASP is not designed for any stoppages and is expected to work with uninterrupted operations for years together. power and furnace oil increased.08 (24.35) (13. energy i.42) 17.37 75.27 (7.41 183.01) 5.18) (14.80 76.61 75.70 29. Air Separation Plant (ASP) and boilers of power plant and Energy Optimization Furnace (EOF).96 21.42) (12.94 22.79 101.91 25.34 51.06 21. Every start up required liquid oxygen to be purchased from external source.58 60.00% 27.46 37.80 17.86) 8.08 (4.13 0.79) 8.37) 47.34 29.72) 19.53 (21.52 9.725 90. the cost of project went up substantially adding to the fixed cost component of its finished products.49 (1.29 4. FY 97 Projection Actual 214.25 (18.500 0.27 1.56 5. being an integrated steel plant.35) 75.29 4.00 FY 99 Projection Actual 214.00 (2.

the present project expansion is being implemented by the JSW Group. which blocked working capital and increased interest cost. 34.18 crores. 12. to Rs.05 crores.91 crores on the foreign currency loans. The Company had originally planned to import a second hand mill at a cost of Rs. 143.79. other pre-operative expenses of Rs. to enhance capacity from 0. 35.101.87 crores to Rs. The increase was mainly on account of the increase in the interest during construction of Rs. The Company later entered into a contract for 0.5 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 Company could commission only the first phase of the project (iron making facilities) by July 1996.22 mtpa mill.06 crores. Revision in September 2001: The Company had commenced production from part of the facilities. 238 crores increase in the project cost as appraised in September 1997.203 . an increase by Rs.1035 crores in September 2001. 25. the implementation of the project. 27.08 crores. 450 crores in July 1994 was revised to Rs. 2. 12. the Company could not raise the public portion of the additional equity aggregating Rs.05 crores. However.96 crores and balance mainly on account of the cash losses on sale of the intermediate products. Due to the gap in the means of financing. 46 crores including refurbishing cost for a 0. there was an increase in the cost of project estimated at Rs. The Company’s project was originally scheduled for completion in March 1996. 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. 839 crores. Consequent to the change in the configuration of the mill.28 crores consequent to delays in the implementation of the project. the company came out with the rights issue of 77. 280. 688 crores in September 1997.44 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.1 mtpa Sponge Iron/Pig Iron to 0. The original cost estimated at Rs. 360 each for cash at par aggregating Rs. mainly due to delays in acquisition of land. However. As a result. which was scheduled for completion in October 1998. the facilities were shut down from November 2000. Public Issue of Jindal Strips Limited In 1992. there was an increase of Rs. 839 crores in August 1999 and finally revised to Rs. with commercial production in April 1996.71 crores and pre-operative expenses and interest during construction by Rs.1 crores. 450 crores at the time of original appraisal to Rs. The project has witnessed time and cost overrun since inception due to various reasons outlined above. 196 crores compared to the previous appraisal of Rs. and executives who have experience in implementing projects in the area. There was also an increase in cost of miscellaneous assets to the extent of Rs.10 crores for meeting a part of the Rs. Revision in August 1999: Due to the depressed capital market conditions. exchange fluctuation of Rs. The project had suffered a cost overrun from Rs.6 mtpa of Sponge Iron and 0. 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. 4.17 crores. because of an increase of Rs. due to shortage of working capital.151 crores mainly on account of additional interest during construction of Rs.78 - . 19. 44. increase in trial production losses capitalized of Rs. The project cost was reappraised in September 2001 to Rs. 1035 crores till completion of project in January 2003. was delayed.12.30 mtpa mill at a cost of Rs. 839 crores. capital equipment costs not originally envisaged (electro-magnetic stirrer) of Rs. the new promoters.5% Partly Convertible Debentures (PCDs) of Rs.108.Information Memorandum also resulted in huge inventory of high value items like ferro alloys. 1035 crores. However.

52 The actual project cost.79 99.000 MT 100.734 513 5.99 2. however. was Rs. 1992.916 2. therefore. not successful for the company. The Submerged Arc Furnace installed initially was utilized for manufacturing Ferro Chrome.566 97.62 355. Sponge Iron was to be manufactured from the Rotary Kiln (6 kilns each of 0.000 kwh Utilisation 4% 3% 11% 0.1 mtpa) and the Sponge Iron in hot stage. was to be transferred to Submerged Arc Furnace for manufacturing Pig Iron. The company expected to achieve a capacity utilization of 30% for 1992-93. changed the plan for manufacture of Pig Iron and decided to install 2 Electric Arc Furnaces of 50 tons each for manufacturing Mild Steel.82 15.Information Memorandum plant at Raigarh. 50% for 1993-94 and 70% for 1994-95 for its new project.000 MT 100. As per the original plan.36 85. the kilns and submerged arc furnaces were expected to be installed by March 1994. cumulative till 1995-96. Madhya Pradesh. This issue opened for subscription on March 9. The cost overrun was due to the time taken for selection of appropriate equipment on the basis of technical and environment control aspects and price escalation.000 MT 200.79 - . Fixed Assets Others Total Planned costs Actual costs 1.000 30 MW Production 97 75 11.34 147.68 28. and problems were also faced by other steel manufacturers. This technology was.41 19. The company.449. The actual capacity utilization is as given under: Year Product 1990-91 Sponge Iron Pig Iron 1991-92 Sponge Iron Pig Iron 1992-93 Sponge Iron Pig Iron Mild Steel 1993-94 Sponge Iron Pig Iron Mild Steel Power Unit Installed Capacity MT 100.5% 23% 1% 26% 43% 10% .000 MT 200. in crores): Land & site development Building Plant & Machinery Misc.000 MT 100.00 449.000 MT 300.719 490 46.000 MT 200.52 crores.175 nil 20.000 MT 200.89 345. without having the cooling cycle operation.62 57. 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.757.000 MT 100. A comparison of promises versus performance is given below: The cost of fixed assets in the project is as under (Rs.

447 78. . The actual capacity utilization is close to the projected figures except for some differences encountered during the process of stabilization of equipment.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 400.667 kwh 1.3.000 200.000 equity shares of Rs. to set up a project for the manufacture of high pressure. 1.613. The project was completed on 13.073. Public Issue of Jindal Saw Limited In 1986.000 500.771 300.000 30 MW 30.992 crores. 1986.80 - .000 45 MW 30.1987 and commercial production was started. 10 each for cash at par aggregating Rs. the company came out with the public issue of 19. thick walled large diameter SAW Pipes.000 204.970 35.745 7.380 69.000 500.92.731 66% 23% 6% 71% 14% 26% Note: Capacity utilisation % has been worked out after considering commissioning period.850 45. This issue opened for subscription on July 7.

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

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

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

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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Income tax Act. Income Tax Act.44 lacs (Previous year Rs. No.34. 1. 175. for which no provision has been made. 1961 Income tax demand Income tax demand 1. 1961 2.88. • Non-payment of dues are as follows: Sr.78. New Delhi 47.56.807 ITAT. Name of the Statue No.99 lacs) b) Rs.55 lacs of dividend on 10% Redeemable Cumulative Preference Shares not provided.87 - . 1961 3. 743. Name of the Statue No. 287. Gift Tax Act.Information Memorandum Sr. Name of the Statue Nature of the dues Amount Forum where dispute is pending CIT (Appeals) New Delhi ITAT New Delhi Income tax Act. 2004 under amnesty scheme for regularisation of Violation of Regulation 6&8 of (Substantial Acquisition of Shares & Takeover) Regulation 1997. New Delhi Amount (5) • Jindal Equipment Leasing and Consultancy Services Limited As per Audited Balance Sheet of March 31.000/. 1.75 lacs Cumulative arrear of dividend on 10% Redeemable Cumulative Preference Shares.960 ITAT. 212.25. 1958 Nature of the dues Income tax demand Gift tax demand Forum where dispute is pending 5.730 CIT (A).S.31.D.1293. 2. 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. 1961 Income tax Act. 1958 Nature of the dues Income tax demand Income tax demand Gift tax demand Forum where dispute is pending 1.217 2. 715. b) The Company has given 1376677 equity shares of Jindal Iron & Steel Co. 399.65. .488 ITAT New Delhi Amount (6) Nalwa Investments Limited Contingent liabilities not provided: a) Disputed income tax Liability Rs.48. 1961 2. 2004 Contingent liabilities are: a) Outstanding disputed income tax and gift tax liability of Rs. 1.21.437 Penalty Imposed by SEBI A sum of Rs.83. • Non-payment of dues are as follows: Sr. Income Tax Act. Ltd with Deutsche Bank as safe custody of credit facility granted to Jindal Tractable Ltd.05 lacs equity shares of Haryana Concast Ltd from H. Gift Tax Act.00 lacs. Rs.has been paid on October 20.15. e) Rs.I. f) In respect of bid for 63.15.83 lacs. New Delhi 61.738 ITAT New Delhi 1.C. c) The Company has pledged 4900000 equity shares of Jindal Vijayanagar Steel Ltd & 669 sares of Jindal Iron & Steel Co.

752.000/. with I.35 429.. Penalty Imposed by SEBI A sum of Rs. 1. 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. b) The company has pledged 2.Information Memorandum (7) Abhinandan Investments Limited Contingent liabilities not provided: a) Rs.88 - .I..360 equity shares of Jindal Steel & Power Ltd.87 4. 175.I. No.C. (8) Jindal Saw Limited Contingent liabilities not provided for as on 30. for credit facility granted to JSPL.16. The Arbitrators have passed Award in favour of Jindal Saw Ltd.16 20. in crores 229. and the same has been challenged by GAIL. (GAIL) Delhi High Court Appeal against Arbitration Award Rs.has been paid on October 20. Vs. 2004 under amnesty scheme for regularisation of Violation of Regulation 6 & 8 of (Substantial Acquisition of Shares & Takeover) Regulation 1997. No.09.02 58. 48 crores (approx. Case No.02 0. Parties Pending Before Subject of the Matter Amount (Rs. Ltd.00 Civil Matters Sr. The reduction of price is being disputed by Jindal Saw Ltd.53 lacs Cumulative arrear of dividend on 10% Redeemable Cumulative Preference shares. Gas Authority of India Ltd.264 of 2003 Jindal Saw Ltd.) This case relates to the application of Price Reduction formula by GAIL pursuant to the delay in supply of pipes by Jindal Saw Ltd.) Facts Case No.2004 are in respect of: Sr. .C.

Vs. SDJV. SDJV. Dhaka on false and frivolous grounds. The Arbitrators have passed Award in favour of the Jindal Saw 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.Information Memorandum 2. Vs.58 5. Oil and Natural Gas Corporation Ltd. - M/s. The reduction of price has been disputed by Jindal Saw Ltd. Arbitration Penalty for delay in supplying pipes Rs. Jindal Saw Ltd. 1. Appeal No. This matter relates to the application of price reduction formula applied by ONGC pursuant to the delay in supply of pipes. Jindal Saw Ltd. Jindal Saw Ltd.83 crores 3. Vs. under a contract for supply of pipes. ONGC has challenged the Award before the High Court. . Bharat Petroleum Corporation Ltd. The Arbitrators have given the Award in favour of the Jindal Saw Ltd.12 crores 4. This case relates to the dispute relating to the applicability of foreign Exchange rates on payments made by ONGC to Jindal Saw Ltd. ONGC has challenged the Award before the High Court. Vs.292 of 2003 M/s.89 - . The reduction of price has been disputed by Jindal Saw Ltd. (ONGC) Bombay High Court - US$ 60224. Oil and Natural Gas Corporation Ltd. Arbitra tion Petitio n No.100 2 of 2002 M/s. Bangladesh attempted to invoke the performance Bank Guarantee for USD 705698 issued by Canara Bank through Bank of Nova Scotia. Suit No.862 of 2002 M/s. (ONGC) Bombay High Court Appeal against the Award of the Arbitrator 1. Jindal Saw Ltd.

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

Commissioner has reopened this matter Under Section 21(2) of the U.J Pipes Mumbai without Form No. Jindal Saw Ltd.T Act 1948 for escapement of Tax.P.31 by Jindal Saw Ltd.11. This matter relates to the imposition of interest on tax deposited by Jindal Saw Ltd.Y.T Act 1948. Jindal Saw Ltd.600 The Add. According to the Board this is in violation of the Environmental Impact Assessment Notification 1994. Assessing Authority Trade Tax Vs. 1. 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. & Ors First Class Judicial Magistrate. variation.Y. The provisions of Section 15 A (1) (0) of the U. High Court Allahabad A. Other Indirect Taxes Matter 1. Jindal Saw Ltd. 1.66. for carrying out job work. 1997-98 Rs. Jindal Saw Ltd. Deputy Commission er (A) Kosi Kalan.91 - . Allahabad A. 1991-92 Rs. on F.Y.T Act 1948 are attracted which stipulates penalty up to 40% of value of material so imported. High Court. is disputing the above matter. High Court Allahabad A. had undertaken substantial contraction of plant and blast furnace without obtaining prior environmental clearance. Mundra Environm ental Pollution The Pollution Board alleged that Jindal Saw Ltd.Y.T.T. 1995-96 Rs. Criminal Case No 416 of 2004 Gujarat Pollution Control Board Vs. . 5. 1997-98 Rs. Jindal Saw Ltd.694 2.940 3.E.83. This Appeal has been filed by the Department against Jindal Saw Ltd. Assessing Authority Trade Tax Vs. Criminal Offences 1. Assessing Authority Trade Tax V/s Jindal Saw Ltd. 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.P. This case is in relation to the import of material from M/s P.Information Memorandum jurisdiction to try the matter. A.T. Assessing Authority Trade Tax Vs.42. 3.P.906 4.

567. The ITAT. 2.16 lacs.20 Chargeability to Wealth Tax u/s 4 lacs and Rs.584 has not been acknowledged as debts in view of misappropriation of shares of the company. property of the company. Rs. 578. 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. respectively the CWT (Appeals) upheld the Assessing Officer’s contention. Jindal Saw Ltd. 2004 include: 1.84 lacs. Mumbai has decided in favour of the Company. 159.3. Versus Comm. ITAT. Mumbai has heard the Appeal and decided in favour of the Company. On appeal.Information Memorandum 5. 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. (10) Gagan Trading Company Limited Contingent liabilities not provided for as on March 31. Mumbai Assessment Year 1998-99 Gagan Trading Company Ltd. On further appeal. On appeal. of Income Tax Gagan Trading Company Ltd. Of Wealth Tax ITAT. b) The company has lost the case of misappropriated shares for 600 equity shares of Jindal Strips Ltd. the CIT (Appeals) has decided the matter relating to the addition of notional interest in favour of the company.000. Jindal Saw Ltd. Current Status of Tax Demands Gagan Trading Company Ltd.42 lacs. Supreme Court of India This matter relates to the applicability of Form 3 B and C. Versus Comm. the company is in the process of filing appeal to ITAT on the other issue of interest disallowance.92 - . Assessing Authority Trade Tax Vs. & 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. Dividend on preference shares Rs. of Income Tax ITAT. Mumbai for Hearing Assessment Year 2000-01 592. However. Disputed tax demands Rs. Versus Comm. (8)(b) of the Wealth Tax Act of the 184.40 lacs . 2265.08 lacs Addition of notional interest on security deposits received while computing income from house property and disallowance of interest. 1502.16.

2004.25 lacs. On appeal. 1 The demand had arisen due to disallowance of set off of brought forward loss of earlier year. Parties Pending Before Subject of the Matter Amount Involved (Rs. Director General of Foreign Trade (DGFT) and Comm. 20 lacs. The demand had arisen due to disallowance of loss on renunciation of Rights shares. Contingent liabilities not provided for as on 31-03-2004 related to Disputed Income Tax Demand of Rs. Of Customs Delhi High Court and shall come up for hearing in due course Customs duty on BMW Car imported in the year 2002 Nil The Comm. No.92 Lacs Addition of notional interest on security deposit received while computing income from house property and the disallowance of interest. Current Status of Outstanding Litigation Case No.111 Lacs as detailed below : Assessment Year & Amount of Demand 1991-92 Rs.) Facts Writ Petition No. 2004 pertained to dividend on preference shares (pro-rata) amounting to Rs. 20. Ltd.Information Memorandum Assessment Year 2002-03 Rs.56 Lacs (12) • • Vrindavan Services Private Limited Contingent liability not provided for as on March 31.29 Lacs Details & Current Status Sr.431.56. The petitioner filed this writ contending that the same was not required. there was a default relating to interest on OCDs amounting to Rs. 2 1993-94 Rs. of Customs issued a notice under Central Motor Vehicles Rule 126A for nonsubmission of homologation certificate. (11) Sun Investments Pvt. which is yet to be decided. the CIT (Appeals) upheld the Assessing officer’s contention. The Company is in appeal to Income Tax Appellate Tribunal. The Company is in appeal to CIT (Appeals). The Company is in the process of filing an appeal to the CIT (Appeals). As on March 31. Versus Union of India.93 - .54. 8090 of 2003 Gagan Trading Company Ltd. which is yet to be decided. (13) Reynold Traders Private Limited .

340 for the A. 199798 2.946 for the A. Board of Revenue Denial of benefits for New/Addl.Y. a demand of Rs.28 Sales Tax Matters: Sr No Parties Pending Before Subject of the Matter Amount Involved (Rs. Vs.396/. 42. By an Order dated April 29.against the amount demanded.20.000/. 1. The Company is in the process of filing an appeal to CIT(Appeals) against the order. The company has been denied benefits on its new/additional products manufactured by it. Vs. has passed an Order in the favour of the company. No. 6. 82. Jindal Steel and Power Ltd. State Sales Tax Dept. Products produced Rs.38 14.000/.Y.94 - . The Company has already deposited a sum of Rs. 46. The company has already deposited a sum of Rs.against the amount demanded. State Sales Tax Dept. Crores 459.58 7. (B) Promoter Group Companies (1) Jindal Steel & Power Limited Contingent liabilities not provided for as on March 31.76 36. 199899 3.75. The company has already deposited a sum of Rs. 20002001 The Company has been denied benefits on its new/additional products manufactured by it. 2004 are in respect of : Sr. Jindal Steel and Power Ltd.30. .) Facts 1. 4. Vs. 2000 the Dept. Board of Revenue Denial of benefits for New/Addl. 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. State Sales Tax Dept.02 208.Y. Board of Revenue Surcharge imposed and less set-off allowed Rs.for the A. Rs.20 5.14 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. Products produced Rs.58.Information Memorandum Income Tax Demands For Assessment Year 2000-01.000 against the amount demanded. Jindal Steel and Power Ltd.

220. Comm.1998 to 17. Comm.03 installed within the factory This case relates to service tax Reply sent on GTO service 01.12 .45 lacs The Dept. The company has already deposited the amount. goods. Asst Service tax on the services of Reply Sent 27.11.03 ** PH goods relating to power plant 5.Information Memorandum Central Excise Matters Sr No Case No.11.06.10. Jt.697 1658 3.) Facts 1. Writ Petition Jindal Steel and Power Ltd.00 crores under protest. A case of difference of book Reply sent ON 29. 1.874 2661 483.95 - .12.679 1287 241.02. The company has paid an amount of Rs. of Central Excise Vs. Vs. Raipur Classificati on for imposition of duty 7. V(CH86)15264/R/P R/JC/200 4/ADJ/51 88 Comm.7*27.03.1. has imposed a duty of on two (2) Induction Furnaces for the period April 1.03 stock and physical stock taken by the department.697 Asst Commisioner Excise Asst Commisioner Excise Asst Commisioner Excise Asst Commisioner Excise Asst Commisioner Excise Asst Commisioner Excise To the department. The Department has imposed duty on Ladle Transfer Car by treating it as an item falling under heading 86 instead of 84.1998 after the Finance Act amendment in 2003.7. Jindal Steel and Power Ltd. Amount (Rs) Pending Before Description of the Case Present Status 1993 179..12*Adjourn 28.400 2300 37. Cenvat Credit on capital Replied on 11. 3949 1. The matter had been appealed in the CESTAT by the company against the Order passed by the Comm. of Central Excise High Court. Parties Pending Before Subject of the Matter Amount Involved (Rs. the modvat Replied on 4/7/96 – No PH document does not appear to be genuine.012 Cenvat Credit on capital Replied on 14.9.03 **PH goods relating to power plant 25.03 installed within the factory. Other Excise Matters Case Ref.04*ph Commisioner M/s NKK Corporation Japan 18. 2000.177.55 crores 2. Modvat credit on capital PH over on 20/2/2001.772 9053 381. Chattisgarh Payment of Duty 1.05 . 1998 to March 31.

832 Add.527.96 - .5. Service tax on GTO service Replied 22. Sponge iron burnt in the year CEGAT Remand to CCE 2000.058 1303 1.606 High Court Bilaspur 19103 2187 Chief Commissioner Excise 6. Ref APPL – High credit on refractory materials Court to us.05*ph Study (Audit) by an 18.98.726. Commissioner Excise Add.02-NOT HELD against order of CEGAT. Commissioner Excise Add.000 Add. Cenvat credit as inputs on Reply sent on 20. Remission of duty PH held 22.644 1005 Add.05 Engineering Company of Germany. Commissioner Excise 21164 4.10. This case refers to deficiency OIO Received – full in the document of the Disallow –Appl to be filed supplier of the goods.98 to 1. Department has filed a Dept – Appeal – HC – PH petition before High Court 4. Dept disputes that this item would be capital goods . M/s HPCL.12. Cenvat credit taken on Reply sent on 11.6. Commissioner Excise 4169 4.131.02 denied by Commissioner.297.7.03.31.4. We have HC BSP also filed a writ petition before High Court.4.2.04 on some old and used goods from factory to Nalwa Sponge. The matter has been referred to High Court.9.259 1489 2.042. Commissioner Excise 492 4. which stands in our favour.01 * WRIT for 1. Department proposes to Reply sent on 30.03 Graphite Electrode as inputs.702 20755 2.2004 rails and concrete sleepers and allied goods used in the factory This relates to demand of duty Replied on 10.3.04 include the amount of volume discount on freight availed from Indian Railways in the assessable.756 Appealate Tribunal Raipur High Court Bilaspur 1077 43.05 concrete sleepers and allied goods used for laying railway track in the factory.840 that we have taken in Japan itself (off shore service).Information Memorandum Excise 4558 473.037. Cenvat on explosive used in Replied . Cenvat credit on Hot metal Reply sent on 1.002.96. Jumbo Electric Platform truck as inputs and Ladle transfer car as capital goods. Commissioner Excise 27.417 3955 15.2.11. Commissioner Excise Add.04 coalmine. Cenvat credit as inputs on Reply sent .593 Asst Commisioner Excise Add.451 23446 717.04 transport vehicle. CEGAT allowed modvat DEPT.061 Chief Commissioner Excise 346.8. This is to be reversed.2. Service tax on Engineering reply sent on 28.

21 127. 4) The company has been served with two (2) Show Cause Notices from the Commissioner of Central Excise.938 Appealate Cenvat on explosive used in DEPT APPEAL ** PH Tribunal Delhi coal mine. This is to be reversed. 66.-20/9/94-NO PHCommissioner credit on capital goods. Excise 981.) against which the company has already deposited an amount of Rs.05 Tribunal Delhi components/accessories (Chapter 84 vs Chapter 73) fabricated within the factory for captive use.323 Joint Dispute relates to modvat PRE-OBJ. 8.74 lacs (approx.06 5.2004 are in respect of : Sr. 7. The company is disputing the levy. The aggregate amount demanded is Rs.39 lacs (approx. which in aggregate amount to a demand of Rs.Y. 0. 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. 1999-2000.319.) 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.4.32 lacs (approx.Information Memorandum 953 3. Departmental 5.Y. (2) Jindal Stainless Limited Contingent liabilities not provided for as on 31.97 - .745 Joint Cenvat credit taken on Reply sent.).).50 lacs (approx. 3. 2) There are Central Sales Tax matters pertaining to A.4.13 lacs (approx.79 5.) against which the company has already deposited an amount of Rs. A.31 Civil Matters: .05*29.1. 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.93 254.03. Raipur for an amount of Rs. 3) The Gram Panchayat has served a notice upon the company imposing Local Body Tax of Rs. 1.26 3.104 3081 4576 2623 APPL*PH Appealate Classification of steel DEPT 09.Y.PH held Commissioner Graphite Electrode as inputs.05 appeal pending in CESTAT.011. in Crores 34. 592. 2000-2001 and A. No. 3.05 *4.03.511.

49. Hisar LAND 15. Jindal Ltd.48. Amount Involved (Rs. ICICI Bank opened letter of Credit of US$4. HVPNL cancelled the allotment. 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.23. Facts Haryana Vidyut Prasaran Nigam Limited (HVPNL) Vs Jindal Stainless Ltd. HVPNL has filed this Appeal. V.000/- Municipal Corporation (Hisar) Vs Jindal Stainless Ltd. 9.For the period 16.48.1997 to 1.44.1998 Rs. in its factory premises @ Rs. KBC Bank N. 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. KBC Bank N. New York Branch And Surya Impex.Information Memorandum Parties Pending Before High Court. V. 120/per sq. Civil Court. 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. had acquired 2.500/. V. Civil Court. Union of India & ors.259/on account of the services provided by goods transport operators i.163 The Excise Department has levied Service Tax @ 5% on Rs. New Delhi Subject of the Matter Suit dismissed as infructuous. on account of the freight paid for the . Jindal Stainless filed an Appeal in the Delhi High Court challenging the order of dismissal of the suit. 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.606 of 2002 Jindal Stainless Ltd.71.98 - . Hisar had made a demand for development charges in respect of a club constructed by Jindal Stainless Ltd. Stainless V/s. yd. subsequently.6. Excise and Service Tax Matters 1.00. Supreme Court of India Service Tax . Jindal Stainless Ltd.) Potential liability of USD 4. Writ Petition No.Jindal Stainless Ltd. ICICI Bank KBC Bank N. Jindal Stainless Ltd.11. was the negotiating Bank. However.5 Acres of land from HVPNL which is situated between its two factories.V. Hisar for Hearing Development Charges Upon instructions of Jindal Stainless Ltd.500/alongwith interest.in favour of Surya Impex. Vs.e. filed a suit for specific performance and obtained a decree in its favour. The Municipal Corporation.

71. The company replied to the Show Cause Notice and Asst. 1996. Rohtak for Hearing For the period September.6. 49. The Department has levied Modvat Credit on capital goods namely Electrical and Machinery items and issued a Show Cause dated October 23. 1994 January. Jindal Stainless Ltd.998 period from 16. Jindal Stainless Ltd.Information Memorandum 2. 1995 to May. Commission er (Appeals). Appeal/Delhi – III/45/2001 Central Excise Commissioner Vs. The Department has levied Modvat Credit on capital goods namely electrical goods. Before Central Excise. 1996 to July. Commissioner decided the case in favour of the Company. Being aggrieved. A/380387/2001 – NB(D) (Eight Appeals) (Northern Bench) Commissioner of Central Excise Vs. 49.99 - . the Department . electric items. 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. Gurgaon Modvat Credit on capital goods For the period April.1998.05. Rs.163/under protest. 1996 Rs. Commission er. 1995 June. November and December.188 (in all Eight Appeals) 3.1997 to 1.11. 1996. The company has paid the amount of Rs. CESTAT has by its order remanded all the eight matters back to the adjudicating authority for reconsideration of the entire matter in view of latest judgment of Supreme Court in Jawahar Mill’s case. Refractory items etc.14. 57. 1996 to March.

06. 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. Rohtak Commission er of Central Excise. IV (HQ)361/Tech/Jind al/D-V/04/14357 dated 28.100 - . The Company filed a Reference Application before the High Court against the order of CESTAT on Capital goods namely: Brass Casting Articles. Rohtak Modvat/ Cenvat credit For the period January. 2004 to June. - Central Excise Commissioner Vs. 2000. 78. The case was held against the Department and subsequently the Dept. 21. No. Commission er (Appeal). The Department has levied Modvat Credit on capital goods namely Refractories and Refractory items. 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.Information Memorandum 4.12. Jindal Stainless Ltd.69.003/- filed Appeal before Commissioner (A) and the same is pending. Delhi Modvat Credit Rs. The Department has levied Modvat Credit on capital goods namely Wires and Cables. - Show Cause Notice C.000/- 5.2004 issued by Commissioner of Central Excise. 2004 Rs. Gurgaon Rs.33.000/- 6. 19. - Central Excise Commissioner Vs. The Department has alleged that the company is supplying power . 1944 for its opinion vide an Order dated November 9. filed an Appeal before the Commissioner (A) and the same is pending. High Court. Jindal Stainless Ltd.

(6) Brahmputra Capital And Financial Services Limited Non-payment of dues is as follows: Name of the Statue Income tax Act. 1961 Nature of the dues Income tax demand Amount (Rs) 80. 12.58.ITAT.719/.101 - . 1961 Nature of the dues Income tax demand Amount 10. 3. New Delhi (4) Renuka Financial Services Limited Non-payment of dues is as follows: Name of the Statue Income tax Act.748.Information Memorandum only to SEB and therefore not entitled for Modvat/Cenvat credit of the duty paid on the fuel used for generation of power for selfconsumption.869 Forum where dispute is pending ITAT. New Delhi Amount .636/-.23. 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.45. 1961 Nature of the dues Income Tax Demand Forum where dispute is pending 1.81.161 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.

70 lacs.3. a demand of Rs.71.15.(Previous Year 28. 41.92 lacs.(Previous Year 24. The Company has filed an appeal to CIT (Appeals) against the order. The Company is in appeal to ITAT and the matter is pending.915/.62 Lacs has arisen due to disallowance of Website Development expenses incurred by the Company. The demand has arisen on account of interest disallowance by the assessing officer. On appeal.15 Lacs has arisen due to recomputation of Capital Gains considering a lower purchase cost by the Assessing officer.085. (13) Sapphire Technologies Limited Income tax Demands For Assessment Year 2002-03. a demand of Rs.15.55.23.Information Memorandum (7) Gagan Sponge Iron Private Limited Contingent liability not provided for : Arrears of Cumulative Preference Shares dividend Rs. (12) Naman Enterprises Private Limited Contingent liabilities not provided for as on 31-3-2004 comprised of dividend on Cumulative Preference Shares amounting to Rs. . which the Assessing Officer had treated as no longer payable. 1. 2004 relate to Income tax demand disputed in appeal pertaining to assessment year for Rs. On appeal. Ltd.43 lacs has arisen due to recomputation of Capital Gains considering a higher sale value by the Assessing officer. Contingent liability not provided for : Arrears on fixed Cumulative Dividend on preference shares Rs. (11) • Musuko Trading Private Limited (MTPL) Contingent liabilities not provided as on June 30. 197. the CIT (Appeals) has upheld the disallowance. • (10) Kamshet Investments Private Limited Income Tax Demands For Assessment Year 2002-03. 1. For Assessment Year 2002-03.102 - . a demand of Rs.220) (8) Opellina Finance & Investment Pvt. 81. 2004 related to disputed Income Tax demand for Rs. The demand has arisen on account of add back of interest payable amounting to Rs. the CIT (Appeal) has deleted the addition and the matter stands decided in the Company’s favour. The Company is in the process of filing an appeal to CIT (Appeals) against the order.22 lacs.032/-) (9) • Baltimore Trading Private Limited Contingent liabilities not provided as on June 30. The Company has filed an appeal to CIT(Appeals) against the order. 10.32 lacs.750/.3.

30 lakhs.) Nil Facts Karnataka Electricity Regulatory Commission (KERC) Versus Jindal Thermal Power Company Limited & Ors. 10890. Pursuant to Karnataka Electricity Reforms Act. 2004 1. of Karnataka had granted permission to JTPCL for selling power directly to industrial units and the balance to KPTCL. net of Rs. 2. 2000 for supply of power. Claim by a Financial Institution against the Company disputed by the Company (Power Finance Corporation Limited) on the ground that the same is not due in terms of the loan documents and not acknowledged as debt of Rs. (JTPCL) The Govt. 1 Case No. Security provided to Banks/Financial Institutions by way of pledge of shares of Jindal Vijayanagar Steel Limited (JVSL) against credit facilities extended to JVSL for Rs. 24.95 lakhs. 14449. JPTCL entered into a Power Purchase Agreement with KPTCL in November.72 lakhs claimed by the Company towards rebate for prompt payment on another loan from the same Financial Institution. Outstanding Litigation Sr. Parties Pending Before Supreme Court of India for Admission Subject of the Matter Modification of Power Purchase Agreement (PPA) Amount Involved (Rs.23 lakhs. 1999. 573. JTPCL filed an .103 - . JVSL has provided security in favour of the Company’s lenders by way of pledge of their investments in the shares of the Company for Rs. Similarly.Information Memorandum (14) Jindal Thermal Power Company Limited Contingent liabilities not provided for as on March 31. 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.

e. No. JPTCL has filed this writ petition against the levy of interest as also the validity of the retrospective operation of the amendment carried out to section 115JB of the Income Tax Act. 1. KPTCL has filed this appeal before the Supreme Court against the Order of the Karnataka High Court. Bangalore for Arguments For the Assessment Year 2001-02 & 2002-03 0. (15) Jindal Vijayanagar Steel Limited Contingent liabilities not provided for as on March 31. Parties Pending Before Subject of the Matter Amount Involved (Rs. 55 lacs with the Court. 2005: Sr.84 Labour Cases There are six (6) labour related matters against JVSL for issues such as dismissal from employment. Tax Matters 2. 4. accident at the COREX-I site in July 2002 and compensation claims aggregating to Rs.) Facts appeal against this order before the Karnataka High Court. sales tax. 3. levied interest u/s 234B and 234C of the Income tax Act. .7 lacs. No. An interim stay has been granted in favour of JTPCL upon depositing Rs. Particulars Claims against the Company not acknowledged as debts Bills discounted Disputed claims including those pending in Courts for excise & custom duties.01 149. Jindal Thermal Power Company Limited (JTPCL) Versus The Deputy Comm. the Net Tax Liability (after adjusting refunds and payments) The Tax Dept. Karnataka High Court.Information Memorandum Sr.71 crores i. 2.81 487.104 - . of Income Tax & Anr. which set aside the order passed by KERC. income tax and other levies (excluding interest) Rs. Case No. in crores 5.

17 crores The matter has been filed by banks seeking various sums from Bellary steel and others.27 lacs. Civil & Other Cases Case No. 3111/2002 Addl. as we have paid the ex-gratia to Shri. Bangalore 3006000+ interest High Court of Karnataka for hearing Reopening of Assessment by the Department 2..S. LAC No.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. 200000 Status The parties have gone on appeal for enchancement of compensation against the land acquisition-Trial going on. Bly & JVSL JVSL Vs Smt.Nos. Commr. RoranagalluL Civil Judge (Jr. Bellary Steel has filed the Writ Petition to Stay Income Tax Department Notice reopening the assessment for the Assessment Year 1997-98 . 30.Bheeman Gouda and Sri.P. 30. 3110/2002. LAC No. 3109/2002. Hosagerappa of Kudithini based on the orders of Asst. Bly & JVSL Gavisiddana Gouda Vs Asst.Gouramm a/ Shri.190/03 Writ Petition 10713/200 4 SBI & others VS Bellary Steels & Alloys Ltd & others in which JVSL is one of the respondents.Dvn) & CJM. Bellary Subject Parties have awarded enhanced compensation by the court Parties have awarded enhanced compensation by the court Civil Revision Petition filed against the Decree passed by Bellary Court regarding Tamarind Tree Compensation.The Trial has Commenced in the court. Commr & LAO. Commr & LAO. The petitioners have filed a case for compensation for the tamarind trees. Bellary.4/2005 Smt. Civil Judge (Sr.10. we have paid the ex-gratia as per the orders of Asst. Bellary High Court of Karnataka 200000 300000 O. The plaintiff is claiming 100% ex-gratia (i.Dvn) & CJM. Original application No. Bellary Steels & Alloys Ltd Vs IT Dept. Recovery of loan with interest Amt. JVSL is one of the respondents Debt Recvery Tribunal. Civil Judge (Sr.R. Jindal Vijayanagar Steel Ltd.Dvn) & JMFC. Rs. Bellary who is the Revenue Authority.60 lacs. K.105 - . 17 / 2000 @ 92 / 2002 C.J. Yarabanahalli Vs The General Manager (A&LA). 16 / 2000 @ 91 / 2002 Parties Uppara Hanumanthapp a & another Vs Asst. Sandur 210000 Since there was a dispute between the parties. Rudramma. The parties have gone on appeal for enchancement of compensation against the land acquisition-Trial going on. which were their during the acquisiton of landTrial going on. 2.Shankar Reddy Pending before Addl.e.Commr. JVSL is a debtor of Bellary Steel and has been served with a garnishee notice for an amount of Rs.000) to herself.

The Claimant was required to supply certain quantity of limestone to JVSL under a contract. 8350Ex-gratia to be paid Claimant expired. Remarks 323 C / 1 Kurekuppa Chikka Basappa. 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. Bellary has initiated criminal . & Ors. 3352 / 2002 JVSL Vs Dy. 365 E Kurekuppa Criminal Cases Sr. 7B(p). Parties Pending Before High Court of Karnataka. No.P.90 crores (approx. 538 of 1999. G. Other Ex-gratia matters/cases List of ex-land owners to whom the payment of ex-gratia is to be made.45 (for dispatch earned & interest) and $ 118. No.) -- David James & Sons Vs.. the calcinations process in the lime calcinations plant was not to expected level. The Plaintiff has in 2002 made an application for reinstatement of the suit.Devanna 34800Ex-gratia to be paid by the co. 1. K.P.17 crores The High Court has granted stay against the notice of the IT Dept.311. Due to the variance in the size of the limestone. The Plaintiff thereafter withdrew the suit in 1999. Sanna Thimmana Gouda Amt. Village Vaddu Name of the Ex-land owner Dodda Thimmana Gouda. S. JVSL Calcutta High Court for reinstatement of the suit earlier withdrawn Shares 5. Vs. S.) Nil Facts The Dy. 2.P. NO. Case No. No.106 - . 60000Ex-gratia to be paid by the co. On receipt of the consignments.Information Memorandum Civil Suit No. JVSL London Court of International Arbitration for filing Pleadings Demurrage Charges $ 57. 1880 of 2000 Mewar Growth Ltd. The Claimant has filed this matter for the demurrage for the delivery of the limestone at the Goa Port. the limestone was found to be of a different size than the one desired by JVSL.450 (for cost and interest for demurrage) and claiming Rs.family dispute not received. Bangalore Subject M at t er Corex Accident W. Bellary Amount Involved (Rs..family dispute not received. 1 C(p). Toranagallu 361 D(p).A.

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

99 Appeals pending before the CESTAT / Commissioner (Appeals).5. VIII & IX: awaited Order is SCN-X not yet issued by the dept. 7. • • • • • SCN-I : Order is awaited SCN-IV: Order is awaited SCNs-V & VI: Final hearing is scheduled on 20.00 Pending before the Supreme Court of India.5. Show cause notices for demand of excise duty on sale of Corex gas supply to JTPCL / JPOCL. The Tribunal has already stayed the order passed by the lower authority. 4920. The final hearing is scheduled on 19.Information Memorandum 1. Demand of duty on refractories and lock hoppers of Corex-I.05. The final hearing was held on 04.18 4.4.05.05. Duty on interest free advance of Rs.150 Crore received by JVSL from JISCO. Levy of differential duty on scrap: Goa Customs: Lakhs Rs.5. 4851. Chennai Customs: Rs. Bangalore.00 1103. Input credit on Corex chilling: 62. Demand of additional interest charges on warehoused goods 9. DRI Case – II – Demand of additional customs duty on warehoused goods. material in nature. Bangalore.00 Lakhs 8.00 Based on the order passed by the Commissioner (Appeals). on Highgrade 47. PH is awaited. 23. issued by the Central Excise and Customs Authorities : .04.05. The final hearing is scheduled on 11. The final hearing is scheduled on 19.00 5. 6.90 The Tribunal has already stayed the order passed by the lower authority.740.108 - .05. Met-coke import: CG given for Anti Dumping Duty (ADD) 908. PH is awaited in May’05. Input credit pellets. 104. The Tribunal has already stayed the order passed by the lower authority. Order is awaited.37 The Tribunal has already stayed the order passed by the lower authority. 2. 10.04. Response is awaited from Chennai Customs. 3. Customs & Excise (Down Stream SBU): The status of various show cause notices / demands. Final reply submitted.40 The Tribunal has already stayed the order passed by the lower authority. our Stay-cumappeal has been filed before the CESTAT. The final hearing will be held on 27.05 SCNs-VII.00 Appeal before the High Court of Karnataka has been filed.363.

Sales tax liability on account of nonsubmission of Form F in respect of branch transfer. Disallowance of Cenvat credit availed in respect of furnace oil used in captive power generation.f. on account of not furnishing Form C and Form F. 50. of CST Vs JVSL There are no cases pending in respect of Sales tax & Entry tax for the period ended 31. 5. 6.109 - .00 Appeal pending for final hearing before the Appellate Tribunal. Withdrawal of DEPB Benefit on account of difference between the declaration in shipping bill and physical examination of goods. for which the Company obtained stay from the High Court of Karnataka. Comm.e. Further. 18. 0.269 lacs (approx) is provided on account of new levy imposed by Karnataka Government w. 01.23 Reply to show cause notice filed – Nothing further has been heard. 1944 Sales Tax & Entry Tax (Upstream SBU): Parties Pending Before Commercial Tax Authority Subject of the Matter Late submission of Form "C" and Form "F" with the Department Amount Facts Involved (Rs. Imposition of penalty under Rule 209A of the Central Excise Rules. Income Tax (Up Stream SBU): . Description Amt.23 Appeal pending for hearing before the Assistant Commissioner of Sales-tax (Appeals).79 Amount debited under protest. 85. 47. 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. 1. 4.) 1.04 under Special Entry Tax Act-2004.36 Reply to show cause notice filed – Pending for hearing before the jurisdictional commissioner. Appeal pending for hearing before the Appellate Tribunal.00 Appeal pending for hearing before the Commissioner (Appeals). 7. 10.89 Appeal pending for hearing before the Appellate Tribunal.03. No.10. Details Amt.75 Reply to show cause notice filed – Pending for hearing.89 Rs. 2. Appeal pending for hearing before Tribunal. (Rs in Lakhs) Status 1.78 lacs A demand was raised by the CST Dept.20. contingent liability of Rs. 2. Sales Tax (Down Stream SBU): Sr. No. 3. (Rs in Lakhs) Status 1. The Forms have now been submitted and a revised order is expected.2005.Information Memorandum Sl.30 lacs have been debited under protest.

is in respect of usance interest paid through ICICI on usance LC. No.50. Details Value in Rs. provision for diminution in value of investments etc.96 Appeal being filed before the Commissioner of Income-tax (Appeals) 2036. 201(1A) for demand of withholding tax on usance interest received from income tax department 6. reduction of depreciation as per Income-tax on slump sale. 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. No. No.775 Income Tax (Down Stream SBU): Sl. (Rs in Lakhs) Status 1. interest disallowed u/s 14A and additions made to Book Profit in respect of provision for doubtful debts and advances. 10. Additions / Disallowances made in the assessment orders passed u/s 143(3) to Normal Income in respect of Surplus on repurchase of own debentures.99. Description Usance Interest in Rs. JVSL has replied penalty notice denying the liability relying on High court and Tribunal decisions.97. interest & other expenses capitalised in books.Information Memorandum Sr. based on facts. Total 1891. 134. amount transferred to lease equalisation. Status . as there is no question of law is involved. Payment made other Bank called by Dept.s. Notice of penalty u/s 202(1) r. Recently the tribunal decision has been reversed by High court.618 The demand made by Dept. interest receivable written-off.79 Service Tax (Up Stream SBU): Sr.42 Appeals pending for hearing before the Commissioner of Income-tax (Appeals) / Appellate Tribunal. Penalty levied u/s 271(1)(c) in respect of addition made in the assessment order passed u/s 143(3).41 Appeal being filed before the Commissioner of Income-tax (Appeals).w. 2 Appeal to Karnataka High Court against order of Income Tax Appellate Tribunal for Assessment Year 1995-96. 10.110 - . The High Court may not frame a question for reference. Description Amt. 3. Company appeal for assessment of interest under the head Business Income as against Other Sources. unutilised modvat credit. The Tribunal has allowed. The Income Tax Department has filed an appeal before Karnataka High Court against order of Income Tax Appellate Tribunal. Status 1. 2.

Bellary and the order is expected at any time.34 lacs.21 Lacs plus penalty of Rs 37 lacs. Penalty imposed by SEBI/Other Regulatory bodies • • • Fine and penalty of Rs. USA (Rs.71216321).. The Final hearing is awaited.1.81. Bank Guarantee provided to Excise Dept .. For provisional assessment of consignment sales made. (16) Jindal Steel & Alloys Limited Outstanding Litigations: Excise Matters Dispute on demand of duty on Interest charged in Invoice raised by JISCO: Rs 21. Penalty of Rs. The remaining eight notices have already been decided in favour of JVSL. JSAL removed goods under Form AR.1.Rs 2. The hearing has been completed on 17. 37. The Customs Dept issued a show a show cause notice upon JSAL stating that the benefit of the notification was not available . 1. 7.19 lacs imposed by the Custom Authorities in FY 1997-98 for wrong removal of imported equipments from the bonded warehouse. has given show cause notice for payment of duty of Rs.975261) and Alsthom Power.Ex. Custom Matters Custom Duty – Custom dept. The Department wants to include the interest charged in invoice in Assessable value and as consequence of this demanded duty on interest charged in invoice.Information Memorandum 1. the final assessment is still pending.27 lacs levied by BSE in FY 1998-99 for belated intimation of Book Closure dates.2005 at Mangalore and order is expected. Bellary appeals have been filed before the Commissioner (Appeals).2005 at C. the hearing is completed on 24..111 - . Russia (Rs.Ex. Mangalore in respect of VAI & Amet. : JSAL supplied some steel strips to some companies for further export.50 lacs. VAI. Austria (Rs.2089786) during implementation of the project. JSAL imported the consignment duty free under a notification. Based on the orders passed by the AC.4A and declared that it has not avoided input stage credit. In the case of Alsthom Power. Amet Ltd. 500 by Excise Authorities in FY 2003-04 for wrong claim of CENVAT. 758.42. Service Tax Authorities have demanded service tax on consultancy services rendered by foreign parties namely. Show cause notice has been received for duty demand on Interest charged in Invoice raised. Penalty of Rs.368 Replies to the notices have been submitted by the advocates on behalf of foreign parties. As against this Company’s argument is that the interest charged in invoice is refunded to customers on timely payment of invoice amount and thus should not be included in assessable value for the purpose of calculation of Excise Duty. C.

35.944 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.19. is accepted.311 Differential duty: Rs. Income Tax Matters Rs. the same has been reflected as a contingent liability. As against the demand for customs duty of Rs. due to non-receipt of official order. Civil Matters . 4. .Information Memorandum and demanded the payment of duty along with penalty. The matter is pending before the Divisional Office of Central Excise. 3. 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. 2001-02.44 Lacs for non-production of documentary evidence showing import of goods against remittance of Rs 4467512 under Sec 8(3) of FEMA.557 Special Additional Duty: Rs.65.employee Mr.60 lacs An ex. 3. the Company has filed an Appeal against the Assessement Order. Sanjay Sharma who was sacked for irregularities in his workings has filled a suit against the Company for his reinstatement as an employee.093 from the Customs Department. 67. A stay application has been filled by JSAL against the show cause notice. If the bill of entry. An amount equal to 10% i. However.68.000. no credit has been taken for this refund.945 which has already been paid will also be refundable.Y.07. the Company has paid the entire duty amount of Rs. 4. A sum of Rs.950 No provision has been made for these amounts in this account. 3. Litigation. 0. Rs 440000 has been deposited on 5/10/2004. The Company has replied to the show cause notice and has also represented at the time of hearing.36.00. 1. The Company has subsequently received an adjudication order from the Commissioner of Customs demanding interest of Rs. which has already been filed.340 and penalty and fines of Rs. 67.65. 1352972 was paid to the Income Tax Department on basis of Assessement completed for A. Other litigations The Special Director Enforcement has imposed a penalty of Rs.Rs. which may become due to the Company.07. The outstanding amounts have since been paid and with this the above show cause notice has been settled. However.07.19. 31. 2004.944 and interest of Rs.e. ii. the duty amount of Rs.112 - . (17) Southern Iron And Steel Company Limited (SISCOL) As on December 31. Disputes etc.093 which the Customs Department has asked the Company to pay is payable contingent upon the bill of entry.46.36.05.82. the Company had the following contingent liabilities: i.65. which has been filed being rejected.

94.221 in its books of accounts. i. 2.92 plus interest against two companies viz.00.95 crores in its books of accounts till December 31. The final hearing is awaited.30. 1. The Company received a letter dated October 15.000 to M/s Simplex Engineering. Indo Fab has taken out garnishee order/attachment order in case no. 2.03. the Madras High Court permitted the Company to pay peak hour charges of Rs. 2004 towards payment of these dues.05.35. The Company as gone on appeal before the Division Bench of the Madras High Court. By an order dated November 02.57. . 25. The Company is representing to TWADB for charging the originally agreed royalty of Rs. CP no. The Company is in negotiations with the Public Works department to reach a settlement.e.As per the said Act and the rules framed thereunder. M/s Indo Fab Engineering ("Indo Fab") have obtained a decree of Rs. Ltd and M/s Simplex Engineering. 697/1996) have obtained a decree and have applied to the court for garnishee order to the extent of Rs. 3 lacs per annum. 3. 1998 from Executive Engineer.89. A demand has been made on the Company by the Public Works department.00.549 lacs per annum effective from 1993.900 has been made in the accounts for the increase in the charges. Government of Tamilnadu for Rs. 11. TWADB stating that the royalty charges have been revised to Rs. 76.35. 2003 on power generated by generator or the captive power plant.89. Further.054. Madras High Court has dismissed the Writ Petitions. Pending final hearing of the writ petition. 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.30. a provision of Rs. 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 16.77.00. Mettur Electricity District Circle.77. M/s Eastern Metallurgical Equipments Pvt. OS700/96 to the tune of Rs.199 in ten (10) equal installments and granted an order of interim stay in respect of the demand of surcharge.199 (inclusive of belated payment surcharge of Rs. 2004.000. The Company has filed an affidavit disputing the claim in the before the Court (case no. Mettur Dam for payment of outstanding dues of Electricity Tax for the period February 2002 to December 2003. The Company made an arrangement with the Tamilnadu Water and Drainage Board (TWADB) for using their bridge for the water pipeline owned by the Company by paying royalty charges of Rs.30. in another case (OS No. A winding up petition under Section 433 and 434 of the Companies Act. 2004 from the Superintendent Engineer. the Company has made a provision of Rs. 204 of 2004). 16.844 in the execution application filed against M/s Simplex Engineering. the Judgment Debtors in the Trichirapalli District Court. 2004 has demanded a payment of Rs1. 54. 2003.099. Writ petitions had been filed by the Company against the Tamilnadu Electricity Board in the Madras High Court contesting the levy of Electricity Tax.099) being arrears of peak hour charges for the period July 2003 up to August 2004. As the Company owed Rs.90. 16. Indo Fab. The Company had filed Writs Petitions in the Madras High Court challenging the levy of belated payment surcharge of Rs. However.35.221 being arrears for the previous years during which time the Company had been making payments only towards utilisation up to 1 mgd water from the Cauvery river against allotted quantity of 5 mgd water.199 (without the surcharge) in twenty (20) equal installments.113 - . The Company is in the process of filing an affidavit.Information Memorandum The Company had received a letter dated January 24. The Company has made provisions of Rs. 31. 1. 1956 has been filed in the Madras High Court for default in payment of Rs.05.77. However. the Company also requested that it be allowed to pay the peak hour charges of Rs. Tamilnadu Electricity Board by a demand notice dated October 11.734. 3 lacs per annum and the matter is pending. 1. The Company filed a writ petition challenging the provision of The Tamil Nadu Electricity (Taxation on Consumption) Act.

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

83. Mr. Maharashtra for intimating the change in directors.40 per debenture on 30.2003 onwards. September 30. 4. In this regard. An amount of Rs. Jain’s name is mentioned in the RBI list for willful default of Rs.57. N. Industrial Finance Branch forwarding the acknowledgement of form 32 filed with the Registrar of Companies for the resignation. 12 Rs. Chennai and has appeared before the court as a nominee director of Indian Natural Medical Products Ltd. 5. 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. 1. Shanmugasundaram has received summon no. 2002 from IX Metropolitan Magistrate Court.62. (Industrial Technical Consultancy Organisation of Tamilnadu Limited) (C) Associate Companies (1) South West Port Limited (SWPL) .550 which was due on March 31. 6 Rs.52. 2006 May 17. K. Defaults in Servicing Debenture interest aggregating Rs. 83. Subsequently. October 30. 6 Nil The defaults in servicing in accordance with above terms are given below. He is yet to be served with a copy of charge memo for the same. 7. Mr. Jain had resigned as a director from the board of WCSPL w.70.09. Rescheduled due date May 17.40 per debenture on 31. interest to be paid on March 31 and September 30 each year at 15% on the principal amount outstanding with reference to the period for which it has been outstanding. 25 lacs and above.2000 to 30. 5. Industrial Finance Branch to WCSPL advising that the letter from WCSPL requesting removal of above name has been forwarded to ITCOT Ltd.2003 totaling Rs. For the period 01. advising that Mr. 18 Rs.10.56. 6 Rs.710). 2004 (Rs. However. 2004 was sent by SBI. 2002 and has not been associated with the company since then.f. Copy of this letter was also sent to RBI. 2004 (Rs. 2007 May 17.80 per debenture to be paid in two installments as under: Rs. a letter dated October 25.2003 and Rs. P. A letter dated October 29.12. 2005 May 17. 2008 Amount payable per debenture for redemption Rs.52. 1. WCSPL filed Form 32 on November 25.2004 • • Interest for the delayed payment calculated at the same rate of 15% to be paid on 31.Information Memorandum Principal Original due date May 17.130) has not been serviced by the Company. 2000 for debentures issued by the Company has not been paid for want of surrender of debenture certificates for endorsement by the debenture holders. CC 802/02 Hg dated August 29. 10.03.2005. in respect of West Coast Saw Pipes Limited (WCSPL). Litigation against Directors of SISCOL Mr. Saidapet. 6 Reduced principal Rs. 2003 May 17. 2001 May 17. 2004 (Rs. 2002 May 17.09. 6 Rs. 2004 Interest • Interest for the period from 01. 2004 was also sent by WCSPL to SBI.710) and December 31. Jain from the list.e.31.56.115 - .300 being the first installment of redemption due on May 17.10. 2002 with Registrar of Companies.

Excise Vs. Moreover.Information Memorandum Contingent liabilities not provided for relates to claims made by a dredging contractor. Parties Pending Before Subject of the Matter Jaisu Shipping Arbitration at Claims for the Company Pvt. the work had also not been completed within time.a. 2. Venting of Liquid Products has been treated by the Dept.00 % p. 2003 were: Sr. 1. in lacs) Amount 111.) 3. 1.30 6902. the Evidence dredging work stage carried out at Ltd. 8 Appeals Comm. as the Claimant had not dredged the entire lagoon area stipulated under the contract. Parties Pending Before Subject of the Matter Amount Involved (Rs.00 Outstanding Litigation Cases filed by the Excise Department Sr.80 crores Venting of Gases has been treated by the Dept.75 lacs. Case No. Of Excise Vs.47 crores Facts SWPL is disputing the claim. No. JPOCL CESTAT Claim of Duty 7. 3.88 crores 2. 155. Outstanding Litigation Sr. SWPL has also filed a Counter Claim of Rs.96 270. 3. Amount Involved (Rs. JPOCL Of CESTAT Claim Duty of 12. the Marmagoa Port Versus South West Port Ltd. No. to the extent the company does not expect any determination of liability in respect thereof amounting to Rs. (2) Jindal Praxair Oxygen Company Private Limited (JPOCL) Contingent Liabilities not provided as on March 31. Particulars Bank Guarantees Excise Duty matters disputed by the company Claims against the company not acknowledged as debt (Rs. as despatch and levied duty upon .93 crores for delay and loss of profits due to a 45 days overrun along with interest @ 12. 1. as despatch and levied duty upon the same. currently pending before arbitration.) Facts 8 Appeals Comm. No.116 - .

16 lacs Cases filed by JPOCL against the Excise Department Case No. Comm. Of Excise Vs.74 crores Duty on reimbursement of expenses Duty on reimbursement of expenses Service Tax payable on Engineering Services of Praxair Inc. Of Excise Vs.) Facts 3.87 crores the same. Comm. Claim of Duty 1. Of Excise (A) Duty on Infrastructure Services Duty on Infrastructure Services Service Tax 1. Parties Pending Before Subject of the Matter Amount Involved (Rs. JPOCL CESTAT Claim of Duty 1. JPOCL Comm. Technical Services and Field Service Agreements.74 lacs 2 cases JPOCL Vs. Claim of Duty 60. Comm. Of Excise Vs. Comm. Of Excise Comm. Of Excise (A) and Asst. Venting of Liquid Products has been . JPOCL CESTAT Asst.93 lacs 5. No. Of Excise JPOCL Vs. Of Excise Vs. LOX Consumption Captive 4. Comm.) Facts 4 cases JPOCL Vs. 2 Appeals Comm.117 - . Of Excise Comm. Asst. Of Central Excise (Appeals) Asst. Of Excise Vs.22 lacs 1. Comm. Venting of Liquid Products has been treated by the Dept.98 lacs Duty reimbursement expenses on of 2. Of Excise Comm. Comm. Duty on Infrastructu re Services Duty on MTOP Duty on IT Reimburse ment 8. Of Asst. Of Excise JPOCL Vs. 1 case 7. Denial of MODVAT availed by JPOCL on the Capital Goods (SS Plates and 25% on project imports. as despatch and levied duty upon the same. Comm. Case No.06 crores 10 Appeals JPOCL Vs.. JPOCL Comm. Denial of MODVAT availed by JPOCL on the Capital Goods to the extent of 25% on project imports. 4 cases CESTAT Claim of Duty on Captive Consumption 51. Comm. Parties Pending Before Subject of the Matter Amount Involved (Rs. Of Excise Asst. Comm.22 lacs 55.Information Memorandum Sr. Of Excise (A) Claim of Duty 90. Denial of MODVAT credit 2.51 crores 116 of 2002 JPOCL Vs. Comm.77 lacs 11.48 lacs 2 cases JPOCL Vs. Comm. JPOCL Comm. 2 cases 6. Comm. Comm. 1 case Comm. Denial of MODVAT availed by JPOCL on the Capital Goods.

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

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

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 summary of significant accounting policies adopted by the Company is enclosed as Annexure III to this report. The Company has not declared dividends during any financial years covered in this report. The Company has not taken unsecured loan. 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.7(h) of the Guidelines have not been disclosed. 7.2. Chartered Accountants Vipul K. approved by the Company and annexed to this report. they have been correctly computed from the figures stated in the Statement of Assets and Liabilities and Profit and Loss as referred above. Disclosure of the Tax Shelter Statement as required by paragraph 6.2. The Notes to the Statement of “Assets & Liabilities” and ‘Profit & Loss Account’ are enclosed as Annexure IV. 37606 Place : Mumbai Date : 28th April 2005 .7 (i) of the Guidelines is given in note 7 of Annexure IV. We report that in our opinion. For Shah Gupta & Co.10. Choksi Partner M. 5.Information Memorandum 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. 3. 6. Hence the information regarding analysis of outstanding unsecured loans in accordance with the paragraph 6.10. 4. No.123 - . the Statement of Capitalisation as set out in Annexure VI which has been prepared based on audited information. 2005.

12 9. 31.91 1.70) 4.32 4.05 13.06 (13.96 52.217.04 B C D 4.35 6. Reserves Less Revaluation Reserve Reserves (Net of Revaluation Reserves) Less: Misc.121.02 0.23) (3.35 43.1099.10) 10.59 0.135.20 1.22 6.43 0.96 Lacs on account of allotment of Equity shares on 16th March.00 (0.10) 344.121.19 1.87) (8.791.109.net Current Assets.23 (0.78 0.28 8.02 4.43 (3.10 each for every 4 equity shares held by them in JISCO (erstwhile).30 F G Net worth Represented by 1.29 14. 2005 to Shareholders of JISCO (erstwhile) in the ratio of 1 equity share of Rs.217.74) 53.98 14. Expenditure Networth Note: Share Capital includes an amount of Rs.124 - .59 10.00 (4.85 9.12 0.28 E 0.13 10.08 2.28 2005 for 6.23 0.28 1.00 0.06 52.64) 9.32 0. Share Capital (see note) 2.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 .87) (4. Loans and Advances: Inventories Sundry Debtors Cash & Bank Balances Loans & Advances Other Current Assets Liabilities and Provisions: Secured Loans Unsecured Loans Current Liabilities and provisions Year ended March.30 5.29 53.088. 2003 2004 Rupees in Lacs 8. .57 0.52 0.43 13.

06 0.22 27.76 4. 2003 2004 Rupees in Lacs 2.09) 560.66 .50 0.42 (5.21 0.50 0.15 0.Information Memorandum Annexure II STATEMENT OF PROFITS AND LOSSESS 2002 Year ended March. 31.09) (5.37 529.90 532.48 - - 0.50 0.66 560.66 15.33 504.33 0.50 0.18 0.21 0.34 12.71 36.42 5. Break up of other income is : Dividend Interest Consultancy Fees Profit on sale of Investments - 0.65 1.42 560.Current Add: Deferred Tax Assets Net Profit after Tax * Since the said company is an NBFC and not manufacturing company there is no sales.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 0.53 19.23 0.125 - .33 5.29 0.

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

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

155. 2003. d From 1st April.824 .128 - . 2005 respectively.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.493 109.510 545. Rupees Add : Income of Investment division of erstwhile JISCO Less : Expenses of Investment division of erstwhile JISCO Less : Provision for Tax – AY 2004-05 5. the Investment Portfolio of Jindal Iron & Steel Co.Information Memorandum Annexure IV NOTES ON FINANCIAL STATEMENTS 1. the Income & Expenses for the year 2003-04 of Investment division of erstwhile JISCO has been given effect to in the profit and loss account. Accordingly.999. Pursuant to the Scheme of Arrangement and Amalgamation (Scheme) sanctioned by Hon’ble High Courts of Bombay and Karnataka on 3rd September.155. which is allowed as per Accounting Standard (AS) 14 “Accounting for Amalgamations” issued by the Institute of Chartered Accountant of India. referred to as Investment division has been transferred to the Company with effect from 1-4-2003 (Appointed date).625 fully paid up equity shares of Rs.5.000 3.753.10 each to the Shareholders of JISCO (erstwhile) in the ratio of 1 equity share of Rs.265.250 5.334. b Pursuant to the Scheme.923.996. JISCO (erstwhile) had carried the Investment division in “trust” on behalf of the Company.10 each for every 4 equity shares held by them in JISCO (erstwhile).334 865. Ltd (JISCO)(erstwhile). The difference of Rs. The Company has incorporated investments and Loans & Advances at fair value as determined by the valuer. 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. 2003 in accordance with the Scheme. 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 The aforesaid difference has been credited to General Reserve as per the ‘Scheme’ approved by Hon’ble High Courts of Bombay and Karnataka. along with certain loans & advances. a. as disclosed in Schedule B.753. 2004 & 20th January.749.

as at 31st March 2004 against General Reserve and (ii) Recorded Deferred Tax Assets of Rs. 7. 3. The Company has become a Non Banking Finance Company (NBFC) as per Reserve Bank of India Act. 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. at least equal to the amount at which they are stated. 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.03.713 2003-2004 Rupees 3780 - 5.499 . Loans and Advances have a value on realization in the ordinary course of business. 1993. 33.020 36.17 ‘Segment Reporting’. 1934. These activities mainly have similar risks and returns.129 - .2005 Rupees (a) Expenses covered by Section 35 D of the Income Tax Act. 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. Hence. As company’s business activities falls within a single primary business segment the disclosure requirements of AS-17 in this regard are not applicable. Net Deferred Tax Assets comprises: the 27. 2003 (Appointed date) the Balance Sheet as at 31st March. issued by the Institute of Chartered Accountants of India. Deferred Tax Liability : As at 31.550 11.for the current year. The Company is in the process of completing necessary formalities for registration. 1.37. the Company has: (i) Adjusted net Deferred Tax Liability of Rs. Current Assets. 2005 and the profit and Loss Account and Cash Flow Statement for the year ended 31st March. the figures of the current year are not comparable with those of the previous year. the Company’s primary business segment is Investing & Financing. 2. Remuneration to the Auditors: 2004-2005 Rupees Audit Fees Tax Audit Other services Out of pocket expenses (including Service Tax) 6. 2005 include the figures of JISCO (erstwhile) from the said date. In the opinion of the Board.Information Memorandum e In view of aforesaid Scheme with effect from 1st April. 1961 88. Segment Reporting Based on guiding principles given in Accounting Standard .408/. 4.101/.

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 48.900 9. 1961 2. issued by the Institute of Chartered Accountants of India is given below: (a) List of Related Parties (i) Parties where control exists: NIL (ii) Other Related Parties with whom the Company has entered into transactions during the year: (Associates of the Company/Enterprises over which key management personnel and/or their relatives exercise significant influence) Jindal Vijayanagar Steel Ltd. Sun Investments Pvt. “Related Party Disclosures”.130 - .000. as required by Accounting Standard 18.337 8.983 Previous Year Referred to In (a)(ii) above (Rupees) 17.15.167.145 (a) Expenses covered by section 35 DD of the Income Tax Act.500 Nil 1. Details relating to investments in the above related parties have been disclosed in Schedule C "Investments". . 2. Related Party Disclosures. Related party relationship is as identified by the management and relied upon by the auditors.Information Memorandum (b) Depreciation Deferred Tax Assets : 23.000 18.629.000 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: 1.000. Computation of Basic and Diluted Earnings per share: 381. Ltd.

10/. The additional Information pursuant to Part II of Schedule VI to the Companies Act.204) 100.09) Profit (loss) after Tax (As per Profit and Loss Account) Total Number of shares Earnings Per Share (Basic and Diluted) (Face Value – Rs. There are no internal or external indications existing on the Balance Sheet date indicating that an asset is impaired. 11.77 2003-2004 Rupees (509. Previous year figures have been regrouped/ rearranged wherever necessary to confirm with current year’s presentation.625 4.099. 1956 are either Nil or Not Applicable. 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.) 10. Current year’s figures include the figures of investment business of JISCO (erstwhile) and hence.Information Memorandum Particulars 2004-2005 Rupees 52. not comparable with that of previous year.618 11.131 - . .948. 12.000 (5.

728.473 (509.000 0 22.132 - .000 22.422 - 0.684 100. of Shares NAV (a) (b) (a)/(b) 500.000 (3.625 4.473 100. 31 2003 2004 2005 Net Profit after Tax No.204) 100.09) 11.264 RONW 3 Net Asset Value (a)*100/(b) 0 2.625 479.728.000 9.618 11.000 50.618 (309.09) 52.000 0.45 .321.Information Memorandum Annexure V Accounting Ratios 2002 1 Earning Per Share For the year Ended on March.684 936.23 (509.264 100.321.205) 5.099. of Shares EPS 2 Return on Net Worth (a) (b) (a)/(b) 50.948.77 Net Profit after Tax Net Worth (a) (b) 500.36 (309.099.000 10 936.205) 5.000 (5.995 Net Assets No.948.204) 52.

06 - NOTE: Since there are no Long Term and short term Debt.06 53.121. .00 (4.00 52.110. total Debt / Networth and Debt/ Equity ratio is not applicable.13 1.133 - .231.87) 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.

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

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

or effects shall be deposited or for any loss occasioned by an error of judgement or oversight on his part. 135. 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. Subject to Section 259 of the Act. boarding. The liquidator on any winding-up (whether voluntary. receipts. in addition to his fee for attending such meeting as above specified. A retiring Director shall be eligible for re-election. and if any Director be called upon to go or reside out of the ordinary place of his residence on the Company’s business. but subject to the rights attached to any preference share capital. 138. 195. Indemnity And Responsibility 194. Subject to provisions of Section 201 of the Act no Director. securities. increase or reduce the number of Directors. with the sanction of a Special Resolution. 136. Winding up 193.136 - . divide among the contributories in specie any of the assets of the Company and may with the like sanction. 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. such sum as the Board may consider fair compensation or for traveling. and may alter their qualifications and the Company may (subject to the provisions of Section 284 of the Act) remove any Director before the expiration of his period of office and appoint another qualified person in his stead. The Board may allow and pay to any Director. from time to time.Information Memorandum 124. 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. or for any other loss. the Company may by Ordinary Resolution. The person so appointed shall hold office during such time as the Director in whose place he is appointed would have held the same if he had not been removed. 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. 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. insolvency or tortious act of any person with whom any moneys. under supervision or compulsory) may. Manager or other Officer of the Company shall be liable for the act. 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. he shall be entitled to be repaid and reimbursed any traveling or other expenses incurred in connection with the business of the Company. . lodging and other expenses. 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.

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

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

Shah Gupta & Co. and where specified for other Companies. Mumbai The banks which is the banker to JSWHL Board for Industrial and Financial Reconstruction The Board of Directors of JSWHL The Stock Exchange.139 - . 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. NSE & DSE ********* Stock Exchanges : . except as stated otherwise Jindal Iron & Steel Company Limited Jindal South West Holdings Limited Jindal Vijayanagar Steel Limited The Memorandum of Association of JSWHL. Chartered Accountants. Net Asset Value National Securities Depository Limited The National Stock Exchange of India Limited Reserve Bank of India Jindal Mansion. 1956. M/s. Mumbai The Securities Contract (Regulation) Rules. as amended from time to time SEBI (Guidelines for Disclosure and Investor Protection) 2000 issued by SEBI effective from January 27.Dr. 5A .T. Deshmukh Marg. as amended from time to time The Delhi Stock Exchange Association Limited Earnings per Equity Share Equity shares of the Company of Rs. Maharashtra.. G. as amended from time to time. 1957 The Securities and Exchange Board of India constituted under the SEBI Act Securities and Exchange Board of India Act. as amended. Mumbai Compounded annual growth rate Central Depository Services (India) Limited The Companies Act. 1992.10 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. 1961. including instructions and clarifications issued by SEBI from time to time BSE. Mumbai – 400 026 The Registrar of Companies.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. 2000.