shriram transport finance company limited memora… · companies act, 1956, registered as a...

Shriram Transport Finance Company Limited

A Public Limited Company Incorporated under the Companies Act, 1956 (Registered as a Non-Banking Financial Company within the

meaning of the Reserve Bank of India Act, 1934 (2 of 1934))

Registered Office: Mookambika Complex, No. 4, Lady Desika Road, Mylapore, Chennai – 600 004, Tamil Nadu, India.

Corporate Office: Wockhardt Towers, Level – 3, West Wing, C-2, G Block, Bandra-Kurla Complex, Bandra (East), Mumbai – 400

051 Tel. No.: +91-22-4095 9595 Fax: +91-22-4095 9597/96 Website: www.stfc.in

Contact Person: Shri Parag Sharma – Chief Financial Officer; E-mail: [email protected]

Private Placement by Shriram Transport Finance Company Limited, (“Company” or “Issuer” or “STFC”) of Secured,

Rated, Redeemable, Non-convertible Debentures (“NCDs”/”Debentures”), aggregating to Rs 200.00 crores + Green

Shoe of Rs.200.00 Crores, hereinafter referred to as the “Issue”.

GENERAL RISKS

Investors are advised to read the Risk Factors carefully before taking an investment decision in the Issue. For taking an

investment decision, the investors must rely on their own examination of the Issuer and the Issue including the risks

involved. Specific attention of the investors is invited to the Risk Factors. The NCDs have not been recommended or

approved by Securities and Exchange Board of India (SEBI) nor does SEBI guarantee the accuracy or adequacy of this

document.

Disclaimer :

BY COMPANY

This information Memorandum is neither a prospectus nor a statement in lieu of prospectus and does not constitute an

offer to the public to subscribe for or otherwise acquire the Debenture issued by the company. Apart from this

information memorandum, no offer Document or Prospectus has been prepared in connection with this issue and no

prospectus in relation to the Company or the NCD relating to this offer has been delivered for registration nor is such a

document required to be registered under the applicable laws. This information memorandum is issued by the company

and has been prepared by the Company to provide general information on the company and does not purport to contain

all the information a potential investor may require. The information relating to the Company contained in the

Memorandum is believed by the Company to be accurate in all respect as of the date hereof.

LISTING

The Secured, Rated, Redeemable, Non- Convertible Debentures (“NCD” or “Sub Debts”) are proposed to be listed on

the wholesale debt market segment of Bombay Stock exchange Limited (Designated Stock Exchange)

CREDIT RATING

The Debentures have been rated “AA+”, by CARE for vide letter dated 10/10/2012. The rating Care AA+ indicates

very low credit risk. The ratings provided by Care may be suspended, withdrawn or revised at any time by the

assigning rating agency and should be evaluated independently of any other rating. These ratings are not a

recommendation to buy, sell or hold securities and investors should take their own decisions.

http://www.stfc.in/

mailto:[email protected]

Shriram Transport Finance Company Ltd. For Private & Confidential

2

ISSUE SCHEDULE

ISSUER’S ABSOLUTE RESPONSIBILITY

The issuer, having made all reasonable inquiries, accepts responsibility for and confirms that this Information

Memorandum contains all information with regard to the Issuer and the issue, which is material in the context of the

issue, that the information contained in the 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 make this document as a whole or any of such information or the

expression of any such opinions or intentions misleading in any material respect.

REGISTRAR & TRANSFER AGENT

INTEGRATED ENTERPRISES (INDIA) LIMITED

Address: 2nd Floor, KencesTowers, No 1, Ramakrishna Street, Off North Usman Road, T. Nagar Chennai – 600017.,

Phone No.: 914428140801 Fax No.:914428142479 e-mail: [email protected]

This Information Memorandum prepared under SEBI (Issue and Listing of Debt Securities) Regulation dated

June 6, 2008 and Non-Convertible Debentures (Reserve Bank) Directions, 2010 issued by RBI through its

circular dated June 23, 2010 for placement of Non-Convertible Debentures securities is neither a prospectus nor

a statement in lieu of prospectus and does not constitute an offer to the public generally to subscribe for or

otherwise acquire the debt securities to be issued by the Company. This is only an Information Memorandum

intended for private use.

This schedule is for the exclusive use of the institutions to whom it is delivered and It should not be circulated or

distributed to third parties. It cannot be acted upon by any person other than to whom it has been specifically

addressed. Multiple copies hereof given to the same entity shall be deemed to be offered to the same person. No

document in relation to the issuer or this issue of Debentures has been delivered for registration to any

authority.

ISSUE OPENING DATE 23rd

October 2012 ISSUE CLOSING DATE 23rd

October 2012


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SECTION I : GENERAL

Definitions / Abbreviations

This Information Memorandum uses certain definitions and abbreviations which, unless the context indicates or implies otherwise, have the

meaning as provided below. References to any legislation, act or regulation shall be to such term as amended from time to time.

Company related terms

Term Description

"STFCL", "Issuer", “the Company” and “our

Company”

Shriram Transport Finance Company Limited, a company incorporated under the

Companies Act, 1956, registered as a Non-Banking Financial Company with the Reserve

Bank of India under Section 45-IA of the Reserve Bank of India Act, 1934, and having its

Registered Office at Mookambika Complex, 3rd Floor, No. 4, Lady Desika Road,

Mylapore, Chennai, Tamil Nadu- 600004

AOA/Articles / Articles of Association Articles of Association of our Company

Associate Shriram Asset Management Company Limited

Board / Board of Directors The Board of Directors of our Company and includes any Committee thereof from time to time

CARE Credit Analysis and Research Limited

Control Control for the purposes of this Information Memorandum (other than in the context of any

financial information of our Company or the Group or other than the context may otherwise

require) shall have the same meaning as assigned to such term under the SEBI (Substantial

Acquisition of Shares and Takeover) Regulations, 2011

D&B Research Report The report titled 'Commercial Vehicle Finance - A Comparative Study, June 2012' prepared by

Dun and Bradstreet

DIN Director Identification Number

ESOP/ESOS Company‟s Employee Stock Option Scheme 2005

Equity Shares Equity shares of face value of ` 10/- each of our Company

FITCH Fitch Ratings India Private Limited

Group Shriram Transport Finance Limited and its wholly owned subsidiary companies namely,

Shriram Equipment Finance Company Limited and Shriram Automall India Limited

ICRA ICRA Limited

Loan Assets Assets under financing activities

MIS Management Information System of our Company


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Term Description

Memorandum / MOA Memorandum of Association of our Company

Net Loan Assets Assets under financing activities net of Provision for non-performing assets

Newbridge Newbridge India Investments II Limited

NAV Net Asset Value

NBFC Non-Banking Financial Company as defined under Section 45-IA of the RBI Act, 1934

NPA Non - Performing Asset

Promoter/SHMPL Shriram Holdings (Madras) Private Limited

SHMPL Scheme The proposed scheme of arrangement and amalgamation of SHMPL, with our Company,

pursuant to a resolution passed by our Board of Directors and by the board of directors of

SHMPL at their respective meetings, both held on December 21, 2011

/ Rs./ INR/ Rupees The lawful currency of the Republic of India

SAIL Shriram Automall India Limited

SCL Shriram Capital Limited (Formerly known as Shriram Financial Services Holdings Private

Limited)

SEFCL Shriram Equipment Finance Company Limited

Share Subscription Agreement Share Subscription Agreement dated February 2, 2006, as amended on September 12, 2008

between Newbridge India Investments II Limited, the founders (as defined therein), Mr. R.

Thyagarajan, Mr. T. Jayaraman, Mr. AVS Raja and Shriram Financial Services Holding

Private Limited (now known as SCL), Shriram Recon Trucks Limited, Shriram Holdings

(Madras) Private Limited and SOFL

SIL Shriram Investments Limited

SIL Scheme of Merger The scheme of arrangement and amalgamation of the erstwhile SIL, with our Company vide

order of Hon‟ble High Court of Madras passed on November 25, 2005

SOFL Shriram Overseas Finance Limited

SOFL Scheme of Merger The scheme of arrangement and amalgamation of the erstwhile SOFL with our Company vide

order of Hon‟ble High Court of Madras passed on December 1, 2006

SOT Shriram Ownership Trust

Statutory Auditors Our joint statutory auditors being M/s. S. R. Batliboi & Co. and M/s. G. D. Apte & Co.

Subsidiaries Subsidiaries of our Company namely Shriram Equipment Finance Company Limited and

Shriram Automall India Limited


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Term Description

“We”, “us” and “our” Our Company and/or its Subsidiaries, unless the context otherwise requires

Term Description

Allotment / Allotted Unless the context otherwise requires, the allotment of the NCDs pursuant to the Issue to the

Allottees

Allottee The successful applicant to whom the NCDs are being/have been allotted pursuant to the Issue

Application Form The form used by an applicant to apply for NCDs being issued through the Information

Memorandum

CRISIL CRISIL Limited

Debt Listing Agreement The listing agreement entered into/to be entered into between our Company and the relevant stock

exchange(s) in connection with the listing of debt securities of our Company

Debt Regulations SEBI (Issue and Listing of Debt Securities) Regulations, 2008, issued by SEBI, effective from

June 6, 2008 as amended from time to time

Depositories Act The Depositories Act, 1996, as amended from time to time

Depository(ies) National Securities Depository Limited (NSDL) and /or Central Depository Services (India)

Limited (CDSL)

DP / Depository Participant A depository participant as defined under the Depositories Act

Designated Stock Exchange Bombay Stock Exchange of India Limited

Market Lot One NCD

Record Date The record date (a) in connection with NCDs shall be 3 (three) days prior to the date on

which interest is due and payable, or the date of redemption, or as may be prescribed by the

relevant stock exchange(s).

Registrar to the Issue Integrated Enterprises (India) Limited

Trustees / Debenture Trustee Trustees for the NCD Holders in this case being IDBI Trusteeship Services Limited

Working Days All days excluding Saturdays, Sundays and a public holiday in Mumbai or at any other payment

centre notified in terms of the Negotiable Instruments Act, 1881

AFC Asset Finance Company

ALM Asset Liability Management

ALCO Asset - Liability Committee


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Term Description

CAR Capital Adequacy Ratio computed on the basis of applicable RBI requirements

CV Commercial Vehicle

FTU(s) First Time Users

KYC Norms Customer identification procedure for opening of accounts and monitoring transactions of

suspicious nature followed by NBFCs for the purpose of reporting it to appropriate authority

LC Loan Company

LCV(s) Light Commercial Vehicles

LFO(s) Large Fleet Operators

LTV Loan to value

Non-Deposit Accepting NBFC Directions Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms

(Reserve Bank) Directions, 2007

NBFC-D NBFC registered as a deposit accepting NBFC

NBFC-ND NBFC registered as a non-deposit accepting NBFC

Prudential Norms Non-Banking Financial (Deposit Accepting or Holding) Companies Prudential Norms (Reserve

Bank) Directions, 2007

Public Deposit Directions The Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank)

Directions, 1998

SFO(s) Small Fleet Operators

SME Small and Medium Enterprises

SRTO(s) Small Road Transport Operators

STO(s) Small Truck Owners

AGM Annual General Meeting

AS Accounting Standard notified under the Companies (Accounting Standards) Rules, 2006, as

amended

Act The Companies Act, 1956, as amended from time to time

BSE BSE Limited

CAGR Compounded Annual Growth Rate


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Term Description

CDSL Central Depository Services (India) Limited

DRR Debenture Redemption Reserve

FDI Policy Consolidated Policy on Foreign Direct Investment in India effective from April 10, 2012,

notified by Circular 1 of 2012 issued by the Department of Industrial Policy and Promotion,

Ministry of Commerce and Industry, Government of India

FEMA Foreign Exchange Management Act, 1999, as amended from time to time

FEMA Regulations Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside

India) Regulations, 2000, as amended from time to time

FII/FIIs Foreign Institutional Investor(s)

Financial Year / FY Financial Year ending March 31

GDP Gross Domestic Product

GoI Government of India

HUF Hindu Undivided Family

IFSC Indian Financial System Code

Indian GAAP Generally Accepted Accounting Principles in India

IRDA Insurance Regulatory and Development Authority

IT Act The Income Tax Act, 1961, as amended from time to time

MICR Magnetic Ink Character Recognition

NECS National Electronic Clearing Services

NEFT National Electronic Funds Transfer

NRI Non Resident Indian

NSDL National Securities Depository Limited

NSE National Stock Exchange of India Limited

PAT Profit After Tax

PAN Permanent Account Number

RBI The Reserve Bank of India


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Term Description

RBI Act The Reserve Bank of India Act, 1934 , as amended from time to time

ROC Registrar of Companies

RTGS Real Time Gross Settlement

SEBI

The Securities and Exchange Board of India constituted under the Securities and Exchange

Board of India Act, 1992

TDS Tax Deducted at Source

WDM Wholesale Debt Market


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Table of Content

Disclaimer : 1

SECTION I : GENERAL 3

I. Name and Address of the Registered Office of the Company 11

II. Name and Address of the Directors of the Company 11

III. Brief Summary of the business/activities of the Company 12

IV. Brief history of our Company 20

Summary of last three audited Balance Sheet and Profit and Loss Account with qualifications by auditors 21

Issue Price .............................................................................................................................................................................................. 25

Premium (Rs.) ........................................................................................................................................................................................ 25

V. Securities issued and sought to be listed under the current document 30

VI. Issue Size 31

VII. Details of utilization of the issue proceeds 31

IX. Details of Borrowings including any other securities in past 34

X. Any material event /Development or change at the time of issue or subsequent to the issue which may affect the issue or

the investors decision to invest/continue to invest in the debt securities 94

XI. Particulars of debt securities issued (i) for consideration other than cash, whether in whole or part, (ii) at a premium or

discount, or (iii) in pursuance of an option 118

XIII.

Undertaking to use a common transfer form 165

XIV.

Redemption amount, period of maturity, yield on redemption 165

XV. Terms of Offer or Purchase 165

The terms “Debenture holders” or “Holders of Debentures” wherever used in this Information Memorandum shall be read

and construed in the manner so as to include the debenture holders of the respective category), as the context may require

under this Information Memorandum unless otherwise specifically provided in this Information Memorandum. 173

XVI The

discount at which such offer is made and the effective price for the Investor as a result of such discount. 173

XVII. Debt Equity Ratio prior to and after issue of the debt security 174

XVIII.

Servicing behavior of the existing debt securities on existing debt securities, payment of due interest on due dates on

term loans and debt securities 174


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XIX.

Permission / Consent from the prior creditors 174

XX. Name of the Debenture Trustee(s) 174

XXI.

Rating Rationale adopted by the rating agencies 174

XXII.

Listing of Debentures/NCDs 175

XIII. Term

Sheet 175

Annexure 1 – Rating Letters issued by Rating Agencies 179

Annexure 2 – Terms Sheet 179

Annexure 3 – Consent Letter from Debenture Trustee 179

Annexure 4 – Application Form 179


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I. Name and Address of the Registered Office of the Company

Shriram Transport Finance Company Limited.

Mookambika Complex, No. 4, Lady Desika Road, Mylapore,

Chennai – 600004

II. Name and Address of the Directors of the Company as on July 05, 2012

Name, Designation, Age and DIN Address

Mr. Arun Duggal

A-4, 3rd

Floor,West End Colony, New Delhi – 110021. Non Executive Chairman

Age: 65

DIN: 00024262

Mr. Umesh Govind Revankar

Flat No. 202, Kalpana CHS Limited, 11th

Road, Khar (West),

Mumbai- 400052.

Managing Director

Age: 47

DIN: 00141189

Mr. Ramachandran Sridhar Bungalow No. 33, Atur Park, V. N. Purav Marg, Chembur,

Non-Executive and Non-Independent Director

(appointed in casual vacancy) Mumbai – 400071.

Age: 53

DIN: 00136697

Mr. Sumati Prasad Mishrilal Bafna 22, Gobind Mahal,

Non-Executive and Independent Director 86– B, Marine Drive, Mumbai – 400020.

Age: 50

DIN: 00162546

Mr. Mayashanker Verma A – 55, Belvedere Park, DLF City,

Non-Executive and Independent Director Phase III,

Age: 73 Gurgaon – 122002, Haryana.

DIN: 00115431

Mr. Puneet Bhatia

214 B Aralias Apartments, DLF PH- V Old Golf Club,

Gurgaon, Haryana – 122 009.

Non-Executive Director and

Nominee of Newbridge India Investments II

Limited

Age: 45

DIN: 00143973

Mr. Lakshminarayanan Subramanian 33, Paschimi Marg, First Floor, Vasant Vihar, New Delhi –


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Non-Executive and Independent Director 110057.

Age: 65

DIN: 02808698

Mr. Ranvir Dewan

41, Ewe Boon Road,# 11-41, Crystal Tower, Singapore-259335.

Non-Executive Director

and

Nominee of Newbridge India Investments II

Limited

Age: 58

DIN: 01254350

Company Secretary & Compliance Officer

Mr. Vivel M Achwal

Wockhardt Towers, Level – 3, West Wing, C-2, G Block,

Bandra-Kurla Complex, Bandra (East), Mumbai – 400 051

Tel. No.: +91-22-4095 9595

Email id: [email protected]

Statutory Auditors of the Company

M/s. S. R. Batliboi & Company

Chartered Accountants

6th Floor, Express Tower, Nariman Point,

Mumbai 400021

Contact Person: Mr. Shrawan Jalal – Partner

Contact No.: +91-22- 66579200

M/s. G. D. Apte & Company,

Chartered Accountants,

Dream Presidency, 1201/17E,Shivajinagar,

Off Apte Road, Pune 411004

Contact Person: Mr. U S Abhyankar – Partner

Contact No.: +91-20- 25532114

Lead Manager/Arranger of the Company :

III. Brief Summary of the business/activities of the Company

Overview

We are the largest Indian asset financing NBFC*, with a primary focus on financing pre-owned commercial vehicles.

The D&B Research Report had named our Company as the largest asset financing NBFC in India in their research

based on various financial and non financial parameters. We are among the leading financing institutions in the

organized sector for the commercial vehicle industry in India for FTUs and SRTOs. We also provide financing for

passenger commercial vehicles, multi-utility vehicles, three wheelers and tractors. In addition, we provide ancillary


13

equipment and vehicle parts finance, such as loans for tyres and engine replacements, and provide working capital

facility for FTUs and SRTOs. We also provide ancillary financial services targeted at commercial vehicle operators

such as freight bill discounting and also market co-branded credit cards targeted at commercial vehicle operators in

India, thereby providing comprehensive financing solutions to the road logistics industry in India.

* Source: The D&B Research Report, in terms of their research based on various financial and non financial

parameters.

We have recently forayed into the business of providing stock yard services, refurbishing pre-owned commercial

vehicles and construction equipment and providing a trading platform for the auctioning and sale of such pre-owned

commercial vehicles and construction equipment, showrooms for refurbished pre-owned commercial vehicles, as well

as commercial vehicles repossessed by financing companies, through our wholly-owned subsidiary, Shriram Automall

India Limited, which was incorporated on February 11, 2010.

We have also forayed into the business of providing equipment finance in connection with both new and pre-owned

construction and other equipment, through our wholly owned subsidiary, Shriram Equipment Finance Company

Limited, which was incorporated on December 15, 2009 and received a certificate of registration dated October 8,

2010, to carry on the business of a NBFC (without accepting public deposits) from the RBI.

Our current lines of business and organisational structure are as follows:

Our Company was established in 1979 and we have a long track record of over three decades in the commercial

vehicle financing industry in India. The Company has been registered as a deposit-taking NBFC with the RBI since

September 4, 2000 under Section 45IA of the Reserve Bank of India Act, 1934. We are a part of the Shriram group of

companies which has a strong presence in financial services in India, including commercial vehicle financing,

consumer finance, life and general insurance, stock broking, chit funds and distribution of financial products such as

life and general insurance products and mutual fund products, as well as a growing presence in other businesses such

as property development, engineering projects and information technology.

Our widespread network of branches across India has been a key driver of our growth over the years. As of March 31,

2012 we had 502 branches across India, including at most of the major commercial vehicle hubs along various road


14

transportation routes in India. We have also strategically expanded our marketing network and operations by entering

into partnership and co-financing arrangements with private financiers in the unorganized sector involved in

commercial vehicle financing. As of March 31, 2012 our total employee strength was 15,057.

We have demonstrated consistent growth in our business and in our profitability. Our Assets Under Management

include loan assets in the books of our Company and assets that have been securitized / assigned by us.

Our Assets Under Management has grown by a compounded annual growth rate, or CAGR, of 19.74 % from Rs.

19,60,739.26 lacs (comprising Assets Under Management in the books of our Company of Rs. 15,20,683.42 lacs, loan

assets securitized and assigned of Rs. 4,18,610.03 lacs and portfolio managed by our Company of Rs. 21,445.81 lacs)

as of March 31, 2008 on an unconsolidated basis to Rs. 40,30,662.79 lacs (comprising Assets Under Management in

the books of our Company of Rs. 22,08,048.80 lacs, and loan assets securitized and assigned of Rs. 18,22,613.99 lacs)

as of March 31, 2012 on an unconsolidated basis. Our capital adequacy ratio as of March 31, 2012 computed on the

basis of applicable RBI requirements was 22.26 % on an unconsolidated basis, compared to the RBI stipulated

minimum requirement of 15.00%. Our Tier I capital as of March 31, 2012 was Rs. 4,77,200.43 lacs on an

unconsolidated basis. Our Gross NPAs as a percentage of Total Loan Assets were 3.14 % as of March 31, 2012. Our

Net NPAs as a percentage of Net Loan Assets was 0.45% as of March 31, 2012 on an unconsolidated basis.

Our total income on an unconsolidated basis increased from 2,51,504.11 lacs in fiscal 2008 to 5,89,387.66 lacs in

fiscal 2012 at a CAGR of 23.73%. Our net profit after tax increased from Rs. 38,982.65 lacs in fiscal 2008 to Rs.

1,25,744.96 lacs in fiscal 2012, at a CAGR of 34.02%. A summary of our assets under management, total income and

Net profit after tax for the corresponding periods specified below on an unconsolidated basis are as follows:

Rs. in Lacs

Particulars As at March

31, 2008

As at March

31, 2009

As at March

31, 2010

As at March

31, 2011

As at March

31, 2012

Assets Under Management 19,60,739.26 23,35,423.75 29,18,593.48 36,18,263.32 40,30,662.79

Net Non performing assets 13,553.78 14,746.53 12,488.76 7,445.92 9,772.14

For the

Financial Year

Ended March

31, 2008

For the

Financial Year

Ended March

31, 2009

For the

Financial Year

ended March

31, 2010

For the

Financial

year ended

March 31,

2011

For the

Financial

year ended

March 31,

2012

Total Income 2,51,504.11 3,73,763.10 4,50,138.30 5,40,105.45 589,387.66

Net Profit after Tax 38,982.65 61,240.21 87,311.74 1,22,988.00 125,744.96

Our Strengths

We believe that the following are our key strengths:


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The largest asset financing NBFC in India

The D&B Research Report had named our Company as the largest asset financing NBFC in India in their research

based on various financial and non financial parameters.

* Source: The D&B Research Report, in terms of their research based on various financial and non financial

parameters.

We primarily cater to FTUs and SRTOs and we believe we are among the leading financing institutions in the

organized sector in this particular segment. Our widespread network of 502 branches across India as of March 31, 2012

enables us to access a large customer base including in most major and minor commercial vehicle hubs along various

road transportation routes in India. We believe that our widespread branch network enables us to service and support

our existing customers from proximate locations which provide customers easy access to our services. We have also

strategically expanded our marketing and customer origination network by entering into partnership and co-financing

arrangements with private financiers involved in commercial vehicle financing. We believe our relationship with these

partners is a critical factor in sourcing new customers and enhancing reach and penetration at low upfront capital cost.

The relationships we have developed with our customers provide us with opportunities for repeat business and to cross

sell our other products as well as derive benefit from customer referrals.

Our Assets Under Management on an unconsolidated basis as of March 31, 2012, was Rs. 40,30,662.79 lacs

(comprising Assets Under Management in the books of our Company of Rs. 22,08,048.80 lacs, loan assets securitized

and assigned of Rs. 18,22,613.99 lacs). This is supported by a strong capital base, with share capital of Rs. 22,632.46

lacs and reserves and surplus of Rs. 5,76,598.79 lacs, on an unconsolidated basis, as of March 31, 2012. Our capital

adequacy ratio as of March 31, 2012 computed on the basis of applicable RBI requirements was 22.26%, on an

unconsolidated basis compared to the RBI stipulated minimum requirement of 15.00%. Our Tier I capital as of March

31, 2012 was Rs. 4,77,200.43 lacs on an unconsolidated basis.

Access to a range of cost effective funding sources

We fund our capital requirements through a variety of sources. Our fund requirements are currently predominantly

sourced through term loans from banks, issue of redeemable non-convertible debentures, and cash credit from banks

including working capital loans. We access funds from a number of credit providers, including nationalized banks,

private Indian banks and foreign banks, and our track record of prompt debt servicing has allowed us to establish and

maintain strong relationships with these financial institutions. We also place commercial paper and access inter-

corporate deposits, if required. As a deposit-taking NBFC, we are also able to mobilize retail fixed deposits at

competitive rates. We have also raised subordinated loans eligible for Tier II capital. We undertake securitization and

assignment transactions as a cost effective source of funds.

In relation to our long-term debt instruments, we currently have long term ratings of „CARE AA+‟ from CARE,

„FITCH AA(ind)‟ from FITCH and „CRISIL AA/Stable‟ from CRISIL. In relation to our short-term debt instruments,

we have also received short term ratings of „CRISIL A1+‟ from CRISIL. The rating of the NCDs by CRISIL/CARE

(whichever applicable) indicates high degree of safety regarding timely servicing of financial obligations and carrying

very low credit risk.

We believe that we have been able to achieve a relatively stable cost of funds despite the difficult conditions in the

global and Indian economy and the resultant reduced liquidity and an increase in interest rates, primarily due to our


16

improved credit ratings, effective treasury management and innovative fund raising programs. We believe we are able

to borrow from a range of sources at competitive rates.

The RBI currently mandates domestic commercial banks operating in India to maintain an aggregate 40.0% (32.0% for

foreign banks) of adjusted net bank credit or credit equivalent amount of off-balance sheet exposure, whichever is

higher as “priority sector advances”. These include advances to agriculture, micro and small enterprises (including

SRTOs, which constitute the largest proportion of our loan portfolio), micro enterprises within the micro and small

enterprises sector, export credit, advances to weaker sections where the Government seeks to encourage flow of credit

for developmental reasons. Banks in India that have traditionally been constrained or unable to meet these

requirements organically, have relied on specialized institutions like us that are better positioned to or exclusively

focus on originating such assets through purchase of assets or securitized and assigned pools to comply with these

targets. Our securitized and assigned asset pools are particularly attractive to these banks as such transactions provide

them with an avenue to increase their asset base through low cost investments and limited risk. Majority of our loan

portfolio being classified as priority sector lending also enables us to negotiate competitive interest rates with banks,

NBFCs and other lenders. In fiscal 2010, 2011 and 2012 the total book value of loan assets securitized and assigned on

an unconsolidated basis was Rs. 8,75,681.04 lacs, Rs. 10,20,361.35 lacs and Rs. 8,34,613.44 lacs, respectively.

Unique business model and a track record of strong financial performance

We primarily cater to FTUs and SRTOs and we believe we are the only financing institution in the organized sector

providing finance to FTUs and SRTOs in the pre-owned commercial vehicle finance segment. Most of our customers

are not a focus segment for banks or other NBFCs as these customers lack substantial credit history and other financial

documentation on which many of such financial institutions rely to identify and target new customers. As the market

for commercial vehicle financing, especially the pre-owned commercial vehicle financing, is fragmented, we believe

our credit evaluation techniques, relationship based approach, extensive branch network and strong valuation skills

make our business model unique and sustainable as compared to other financiers. In particular, our internally-

developed valuation methodology requires deep knowledge and practical experience developed over a period of time,

and we believe this is a key strength that is difficult to replicate. We provide finance to pre-owned commercial vehicle

operators at favourable interest rates and repayment terms as compared to private financiers in the unorganized sector.

Our retail focus, stringent credit policies and relationship based model has helped us maintain relatively low NPA

levels. Our Gross NPAs as a percentage of Total Loan Assets were 3.14% as of March 31, 2012. Our Net NPAs as a

percentage of Net Loan Assets was 0.45% as of March 31, 2012.

Strong brand name

We believe that the "Shriram" brand is well established in commercial vehicle financing throughout India. We believe

that we are the only financing company in the organized sector with particular focus on the pre-owned commercial

vehicle financing segment to FTUs and SRTOs in India. Our targeted focus on and the otherwise fragmented nature of

this market segment, our widespread branch network, particularly in commercial vehicle hubs across India, as well as

our large customer base has enabled us to build a strong brand. Our efficient credit approval procedures, credit delivery

process and relationship-based loan administration and monitoring methodology have also aided in increasing

customer loyalty and earn repeat business and customer referrals.

Extensive experience and expertise in credit appraisal and collection processes


17

We have developed a unique business model that addresses the needs of a specific market segment with increasing

demand. We focus on closely monitoring our assets and borrowers through product executives who develop long-term

relationships with commercial vehicle operators, which enables us to capitalize on local knowledge. We follow

stringent credit policies, including limits on customer exposure, to ensure the asset quality of our loans and the security

provided for such loans. Further, we have nurtured a culture of accountability by making our product executives

responsible for loan administration and monitoring as well as recovery of the loans they originate.

Extensive expertise in asset valuation is a pre-requisite for any NBFC providing loans for pre-owned assets. Over the

years, we have developed expertise in valuing pre-owned vehicles, which enables us to accurately determine a

recoverable loan amount for commercial vehicle purchases. We believe a tested valuation technique for these assets is

a crucial entry barrier for others seeking to enter our market segment. Furthermore, our entire recovery and collection

operation is administered in-house and we do not outsource loan recovery and collection operations. We believe that

our loan recovery procedure is particularly well-suited to our target market in the commercial vehicle financing

industry, as reflected by our high loan recovery ratios compared to others in the financial services industry, and we

believe that this knowledge and relationship based recovery procedure is difficult to replicate in the short to medium

term.

Experienced senior management team

As on the date of this Information Memorandum, our Board consists of eight Directors, including representatives of

Newbridge India Investments II Limited (TPG Group), with extensive experience in the automotive and/or financial

services sectors. Our senior and middle management personnel have significant experience and in-depth industry

knowledge and expertise. Most of our senior management team has grown with our Company and have more than 15

years of experience with us. Our management promotes a result-oriented culture that rewards our employees on the

basis of merit. In order to strengthen our credit appraisal and risk management systems, and to develop and implement

our credit policies, we have hired a number of senior managers who have extensive experience in the Indian banking

and financial services sector and in specialized lending finance firms providing loans to retail customers. We believe

that the in-depth industry knowledge and loyalty of our management and professionals provide us with a distinct

competitive advantage.

Our Strategies

Our key strategic priorities are as follows:

Further expand operations by growing our branch network and increasing partnership and co-financing

arrangements with private financiers

We intend to continue to strategically expand our operations in target markets that are large commercial vehicle hubs

by establishing additional branches. Our marketing and customer origination and servicing efforts strategically focus

on building long term relationships with our customers and address specific issues and local business requirements of

potential customers in a particular region. We also intend to increase our operations in certain regions in India where

we historically had relatively limited operations, such as in eastern and northern parts of India, and to further

consolidate our position and operations in western and southern parts of India.

The pre-owned commercial vehicle financing industry in India is dominated by private financiers in the unorganized

sector. We intend to continue to strategically expand our marketing and customer origination network by entering into


18

partnership and co-financing arrangements with private financiers across India involved in commercial vehicle

financing. In view of the personnel-intensive requirements of our operations, we continue to focus on growing our

business by increasingly relying on partnership arrangements to effectively leverage the local knowledge,

infrastructure and personnel base of our partners.

Continue to develop our “Automall” business through our wholly-owned subsidiary Shriram Automall India

Limited

Through our wholly-owned subsidiary Shriram Automall India Limited, we have recently forayed into the business of

developing hubs across India called "Automalls" which are aimed at providing (i) stock yard services for pre-owned

and/or repossessed commercial vehicles, construction and other equipment, (ii) refurbishing pre-owned and/or

repossessed commercial vehicles and construction and other equipment, (iii) providing a trading platform for the

auctioning and sale of such commercial vehicles, construction and other equipment, and (iv) providing showrooms for

refurbished pre-owned commercial vehicles. Our "Automalls" are being developed as a one-stop shop catering to the

various needs of commercial vehicle and equipment users, banks, NBFCs and other lenders who wish to dispose of

repossessed assets, automobile and equipment dealers and manufacturers. As on date, we have nine operational

"Automalls", where we currently are providing stock-yard services, refurbishing of commercial vehicles and

equipment, sale of commercial vehicles and equipment through auctions. We provide electronic touch-screen kiosks at

our Companies various branch offices. We intend to gradually expand our "Automall" business by establishing

between 50 and 60 "Automalls" in various parts of the country in the next 12 to 24 months. We are in the process of

identifying and acquiring properties on a leasehold basis at various locations where we intend to establish our next

"Automalls". Further, we propose to also provide online sale of commercial vehicles and equipment through a website,

which is in the process of being developed. We also intend to provide valuation services and end-to-end "refurbishing"

services relating to automobiles and equipment at our "Automalls" in the near future. We propose to work in close

alliance with various banks and financial institutions, vehicle and equipment users, manufacturers, and dealers to

consolidate and develop our "Automall" business to cater to their specific requirements.

We believe the following are advantages of our "Automall" business:

Results in fee-based income;

Offers loan origination opportunities to our Company as it can finance sales of commercial vehicles sold

through the “Automall” platform/s;

Eases liquidation of assets repossessed by our Company; and

Enables us to institutionalize valuation practices and create valuation bench marks.

Consolidate and expand our construction and equipment finance business through our wholly-owned subsidiary,

Shriram Equipment Finance Company Limited

We have also forayed into the business of providing equipment finance in connection with both new and pre-owned

construction and other equipment, through our wholly owned subsidiary, Shriram Equipment Finance Company

Limited, which received a certificate of registration dated October 8, 2010, to carry on the business of a NBFC

(without accepting public deposits) from the RBI. As on March 31, 2011 and March 31, 2012, Shriram Equipment

Finance Company Limited had disbursed equipment finance loans aggregating to Rs. 65,643.40 lacs and Rs.

164,061.63 lacs, respectively on an unconsolidated basis. We believe that infrastructure development and construction

businesses are likely to benefit from the significant investment in infrastructure by the Government of India and state


19

governments and as well as by the private sector. Many of our customers have upgraded themselves and have become

a sub-contractor and we believe that the construction equipment business segment will be a logical extension of our

product portfolio for our existing customer base

We believe that with the global meltdown many of the existing equipment financiers have stopped funding the

construction equipment and consequently a vacuum has been created in the market. We aim to tap the existing

customer base and the new set of customers. We believe that the construction equipment finance segment provides

significant growth opportunity, and intend to increasingly focus on construction equipment finance as a distinct

business segment.

Diversify our product portfolio

We are focused on leveraging our leadership in truck financing to expand our product portfolio, which now also

includes financing for passenger commercial vehicles, multi-utility vehicles, three-wheelers and tractors. We expect

this will enable us to offer new products to existing customers and expand our customer base. These products have

strong synergies with the truck financing sector which is our primary business line. Further, by offering additional

downstream products, such as vehicle parts and other ancillary loans, credit cards and freight bill discounting, we

maintain contact with the customer throughout the product lifecycle and increase our revenues. The relationships we

have developed with our customers provide us with opportunities for repeat business and to cross sell our other

products and products of our affiliates.

Continue to implement advanced processes and systems

Our information technology strategy is designed to increase our operational and managerial efficiency. We aim to

increasingly use technology in streamlining our credit approval, administration and monitoring processes to meet

customer requirements on a real-time basis. We aim to continue to implement technology led processing systems to

make our appraisal and collection processes more efficient, facilitate rapid delivery of credit to our customers and

augment the benefits of our relationship based approach. We also believe deploying strong technology systems that

will enable us to respond to market opportunities and challenges swiftly, improve the quality of services to our

customers, and improve our risk management capabilities.

Our Company’s Financial Products

Commercial Vehicle Finance

We are principally engaged in the business of providing commercial vehicle financing to FTUs and SRTOs. FTUs are

principally former truck drivers who purchase trucks for use in commercial operations and SRTOs are principally

small truck operators owning between one and four used commercial vehicles. Our financing products are principally

targeted at the financing of pre-owned trucks and other commercial vehicles, although we also provide financing for

new commercial vehicles. Pre-owned commercial vehicles financed by us are typically between five and 12 years old.

We also provide financing for other kinds of pre-owned and new commercial vehicles, including passenger vehicles,

multi-utility vehicles, tractors and three wheelers.

Vehicle Parts Finance and other ancillary activities

Our customers also require financing for the purchase of vehicle parts in connection with the operation of their trucks

and other commercial vehicles. We also offer financing for the acquisition of new and pre-owned vehicle equipment


20

and accessories, such as tyres, engines, chassis, and other vehicle parts.

We have entered into an agreement with Axis Bank (formerly UTI Bank Limited) to market co-branded Visa credit

cards to commercial vehicle operators for use in India and Nepal. We provide marketing assistance for the sourcing of

prospective customers for such credit cards as well as assist in customer verification procedures. Axis Bank however

retains the right to approve the application by any such customer. Access to such additional credit enables our

customers to meet their short term financial requirements, including working capital requirements.

IV. Brief history of our Company

Our Company was incorporated as a public limited company under the provisions of the Act, by a certificate of

incorporation dated June 30, 1979, issued by the ROC, Tamil Nadu, Chennai. Our Company commenced its

operations, pursuant to a certificate of commencement of business dated October 9, 1979. Subsequently, our Company

has obtained a certificate of registration dated September 4, 2000 bearing registration no. A-07-00459 issued by the RBI

to carry on the activities of a NBFC under section 45 IA of the RBI Act, 1934, which has been renewed on April 17,

2007, (bearing registration no. 07-00459). The registered office of our Company is Mookambika Complex, 3rd

Floor,

No. 4, Lady Desika Road, Mylapore, Chennai, Tamil Nadu – 600004.

Amalgamation of Shriram Investments Limited and Shriram Overseas Finance Limited with our Company

The Hon‟ble High Court of Madras vide its order dated November 25, 2005, approved the scheme of arrangement and

amalgamation of the erstwhile SIL, with our Company, (“SIL Scheme of Merger”). The appointed date for the SIL

Scheme of Merger was April 1, 2005 and the record date for the purposes of re-organisation and issue of shares was

December 21, 2005.

The Hon‟ble High Court of Madras vide its order dated December 1, 2006, approved the scheme of arrangement and

amalgamation of the erstwhile SOFL with our Company, (“SOFL Scheme of Merger”). The appointed date for the

SOFL Scheme of Merger was April 1, 2005 and the record date for the purposes of re-organisation and issue of shares

was February 9, 2007.

Proposed Amalgamation of Shriram Holdings (Madras) Private Limited with our Company

The Board of Directors of our Company and the board of directors of SHMPL have in their respective board meetings,

both held on December 21, 2011, have passed resolutions, approving a scheme of amalgamation and arrangement,

whereby the business and undertaking of our Promoter is proposed to be merged into our Company. The Competition

Commission of India has approved the proposed SHMPL Scheme, pursuant to its order dated January 17, 2012. The

NSE and the BSE have issued their no-objection to the proposed SHMPL Scheme, pursuant to their letters dated

February 23, 2012 and February 22, 2012, respectively. In the court convened meetings of our equity shareholders and

secured creditors of our Company both held on June 14, 2012, the SHMPL Scheme was approved by requisite majority

of equity shareholders and unanimously by secured creditors present and voting at the respective meetings. Our

Company has filed a petition dated June 25, 2012, before the Hon‟ble High Court of Madras, pursuant to Sections 391

to 394 read with Sections 100 to 104 of the Act seeking approval to the SHMPL Scheme. Pursuant to the proposed

SHMPL Scheme, 9,38,72,380 equity shares of the face value of Rs. 10 each fully paid up of our Company, shall be

issued and allotted, to the members of our Promoter whose names are recorded in the register of members of our

Promoter on the specified date in connection with the proposed SHMPL Scheme, in the ratio of 313:124 i.e. 313

equity shares of the face value of Rs. 10 each fully paid up of our Company to be issued for every 124 equity shares of


21

the face value of Rs. 10 each fully paid up of our Promoter, held by the respective members. Accordingly, 9,33,71,512

(Nine crores thirty three Lacs seventy one thousand five hundred and twelve only) equity shares of the face value of

Rs. 10 each of our Company, currently held by our Promoter shall stand cancelled pursuant to the SHMPL Scheme

coming into effect. For further details, please refer to

The Financial Results of the Company is as follows.

(Rs In Lacs)

Summary of last three audited Balance Sheet and Profit and Loss Account with qualifications by auditors

FINANCIAL SUMMARY FY 2011-12 FY 2010-11 (A) FY 2009-10 (A)

• EQUITY

22,632 22,618 22,554

• NET WORTH

5,99,231.25 486,744.81 380,529.83

• INVESTMENT IN

SUBSIDARIES / AFFILIATES

29000 17000 21500

• TOTAL DEBT OUTSTANDING

- SHORT TERM (<1 YEAR)

- OTHER DEBT

844051.97 19,88,171.00 18,45,991.00

Particulars FY 2011-12 FY 2010-11 (A) FY 2009-10 (A)

Gross income 5,89,387.66 5,42,965.40 4,49,588.96

Expenditure 2,46,120.55 2,27,195.95 2,24,681.22

Profit before tax 1,88,091.02 1,84,892.76 1,32,459.12

Tax 62,346.06 61,904.76 45,147.38

Profit after tax 1,25,744.96 122,988.00 87,311.74

Add: Balance brought forward 1,40,584.25 93,001.65 58,309.25

Amount available for appropriation 2,66,364.36 215,989.65 145,620.99

Total Assets & Loans and Advances 35,77,747.76 3,157,149.63 2,693,557.57

Total Liabilities including Loans 29,78,516.51 2,670,404.82 2,313,027.74

Networth

5,99,231.25

486,744.81 380,529.83


22

• GROSS INCOME

5,89,387.66 5,42,965.40 4,49,588.96

• OPERATING PROFIT (PBITD)

418,633

166142

123277

• GROSS PROFIT (PBTD)

1,88,091.02 1,84,892.76 1,32,459.12

• NET PROFIT (POST TAX)

1,25,744.96 122,988.00 87,311.74

AUDIT QUALIFICATIONS (if any)

Not Applicable Not Applicable Not Applicable

Interim Accounts, If any - Not Applicable

Capital Structure History

Details of Capital Structure

The share capital of the Company as on 5th

May 2012 is set forth below:

Share Capital Rupees in Lacs

AUTHORISED SHARE CAPITAL

33,50,00,000 Equity Shares of Rs. 10/- each 33,500

2,00,00,000 Preference Shares of Rs. 100/- each 20,000

TOTAL 53,500

ISSUED

22,63,54,709 Equity Shares of Rs. 10 /- each 22,635.47

SUBSCRIBED

22,63,54,709 Equity Shares of Rs. 10 /- each 22,635.47

PAID-UP SHARE CAPITAL


23

Share Capital Rupees in Lacs

22,63,00,568 Equity Shares of Rs. 10/- each 22,630.06

48,000 Equity Shares of Rs. 10/- each, paid up Rs. 5/- each 2.40

TOTAL 22,632.46

NOTES:

Of the total Equity shares an aggregate of 7,92,79,236 Equity Shares have been allotted for

consideration other than cash of which:

a. 6,06,33,350 fully paid-up Equity Shares of our Company have been allotted to the

shareholders of SIL, pursuant to a scheme of amalgamation sanctioned by the

Hon’ble High Court of Madras vide its order dated November 25, 2005, in a ratio of 1

fully paid up Equity Share of our Company, for every 1 fully paid up equity share of

the face value of Rs. 10/- each, of SIL; and

b. 1,86,45,886 fully paid-up Equity Shares of our Company have been allotted to the

shareholders of SOFL, pursuant to a scheme of amalgamation sanctioned by the

Hon’ble High Court of Madras vide its order dated December 1, 2006, in a ratio of 3

fully paid up Equity Shares of our Company, for every 5 fully paid up equity shares

of the face value of Rs. 10/- each, of SOFL

(i) Pursuant to the issuance of 64,95,420 Equity Shares on a rights basis on April 21,

1995, 64,84,910 Equity Shares were allotted, and 10,510 Equity Shares were kept in

abeyance and not allotted, on account of unavailability of certain information in

connection with certain applicants of Equity Shares in the said rights issue.

Subsequently, 2,369 Equity Shares and 2,000 Equity Shares of the aforementioned

Equity Shares kept in abeyance were allotted on November 11, 1995 and December

28, 1995, respectively. Currently, 6,141 Equity Shares are still kept in abeyance and

pending allotment.

(ii) 48,000 equity shares of Rs. 10/- each of SIL, on which Rs. 5/- was paid up for each of

the said shares, were forfeited on January 17, 1997, (“Forfeited Shares”). Pursuant to

the scheme of amalgamation sanctioned by the Hon’ble High Court of Madras vide

its order dated November 25, 2005, as detailed in para (a) above, the Forfeited Shares

have become a part of the share capital of our Company, by operation of law.

Changes in the authorised capital of our Company as on 5th

May 2012:


24

Sr.

No.

FY Alteration

1. 1983 The Authorised share capital of our Company was increased from Rs. 10,00,000 divided into

1,00,000 Equity Shares to Rs. 50,00,000 divided into 5,00,000 Equity Shares.

2. 1986 The Authorised share capital of our Company was increased from Rs. 50,00,000 divided into

5,00,000 Equity Shares to Rs. 1,00,00,000 divided into 10,00,000 Equity Shares.

3. 1989 The Authorised share capital of our Company was increased from Rs. 1,00,00,000 divided into





65,00,000 Equity Shares to Rs. 40,00,00,000 divided into 3,00,00,000 Equity Shares and

10,00,000 cumulative redeemable preference shares of Rs. 100 each.


300,00,000 Equity Shares and 10,00,000 cumulative redeemable preference shares of Rs. 100

each to Rs. 60,00,00,000 divided into 500,00,000 Equity Shares and 10,00,000 cumulative

redeemable preference shares of Rs. 100 each.




redeemable preference shares of Rs. 100 each




redeemable preference shares of Rs. 100 each



each to Rs. 1,15,00,00,000 divided into 7,50,00,000 Equity Shares each and 40,00,000

cumulative redeemable preference shares of Rs. 100 each

10. 2004 The Authorised share capital of our Company was increased from Rs. 1,15,00,00,000 divided

into 7,50,00,000 Equity Shares and 40,00,000 cumulative redeemable preference shares of Rs.

100 each to Rs. 1,25,00,00,000 divided into 7,50,00,000 Equity Shares and 50,00,000 cumulative

redeemable preference shares of Rs. 100 each.


25

11. 2004 The Authorised share capital of our Company was reorganised from Rs. 1,25,00,00,000 divided

into 7,50,00,000 Equity Shares and 50,00,000 cumulative redeemable preference shares of Rs.

100 each to 1,25,00,00,000 divided into 7,50,00,000 Equity Shares and 50,00,000 preference

shares of Rs. 100 each.

12. 2006 The Authorised share capital of our Company was increased from Rs. 1,25,00,00,000 divided

into 7,50,00,000 Equity Shares and 50,00,000 preference shares of Rs. 100 each to Rs.

3,50,00,00,000 divided into 22,50,00,000 Equity Shares and 1,25,00,000 preference shares of Rs.

100 each


into 22,50,00,000 Equity Shares and 1,25,00,000 preference shares of Rs. 100 each to Rs.


100 each*


into 30,00,00,000 Equity Shares and 1,80,00,000 preference shares of Rs. 100 each to Rs.


100 each**

NOTES:

* The authorised capital of our Company was increased pursuant to a scheme of amalgamation of the erstwhile

SIL, with our Company (“SIL Scheme of Merger”). The appointed date for the SIL Scheme of Merger was

April 1, 2005 and the record date for the purposes of re-organisation and issue of shares was December 21,

2005, as approved by the Hon’ble High Court of Madras, vide its order dated November 25, 2005.

** The authorised capital of our Company was increased, pursuant to a scheme of amalgamation of the

erstwhile SOFL, with our Company (“SOFL Scheme of Merger”). The appointed date for the SOFL Scheme of

Merger was April 1, 2005 and the record date for the purposes of re-organisation and issue of shares was

February 9, 2007, as approved by the Hon’ble High Court of Madras, vide its order dated December 1, 2006.

Equity Share Capital History of the Company

Date of Allotment Number of

shares issued

and allotted

Cumulative

Paid-up

capital in (Rs.)

Nature of Issue Issue Price

(Rs.)

Premium (Rs.)

December 30, 1979 50,000 5,00,000 Subscribers to the MOA and

AOA 10/- N.A


26


shares issued

and allotted

Cumulative

Paid-up

capital in (Rs.)


(Rs.)

Premium (Rs.)

April 17, 1984 2,50,000 30,00,000 Public issue 10/- N.A

April 26, 1986

4,50,000

(45,000

debentures

of Rs. 100/-

each)

75,00,000 Rights issue 10/-

N.A

March 31, 1989 5,75,000 1,32,50,000 Rights issue 10/- N.A

November 30,

1990

51,70,420

( 3,45,000

debentures

of Rs. 150/-

each)

6,49,54,200 Public cum Rights Issue 10/-

N.A

April 21, 1995 64,84,910 12,98,03,300 Rights issue 10/- N.A

November 11,

1995 2,369 12,98,26,990

Issue out of shares kept in

abeyance 10/- N.A

December 28, 1995 2,000 12,98,46,990 Issue out of shares kept in

abeyance 10/- N.A

June 26, 1997

2,26,71,850

( 45,34,370

debentures

of Rs. 50/-

each )

35,65,65,490 Public cum Rights Issue 10 /-

N.A

November 28,

2002 62,43,000 41,89,95,490 Preferential Issue 12 /- 2/-

April 26, 2004 46,00,000 46,49,95,490 Preferential Issue 29.81/- 19.81/-

July 23, 2004 54,50,000 51,94,95,490 Preferential Issue 25.50/- 15.50/-

February 16, 2005 1,34,79,000 65,42,85,490 Preferential Issue 35/- 25/-


27


shares issued

and allotted

Cumulative

Paid-up

capital in (Rs.)


(Rs.)

Premium (Rs.)

December 23, 2005 6,06,33,350 1,26,06,18,990 Merger of SIL with our

Company

For

consideration

other than

cash

N.A.

February 2, 2006 2,44,78,681 1,50,54,05,800 Preferential Issue 112/- 102/-

August 7, 2006 57,15,000 1,56,25,55,800

Conversion of warrants issued

on February 16, 2005 on

preferential basis

35/- 25/-

January 23, 2007 59,250 1,56,31,48,300 ESOP$ 35/- 25/-

February 12, 2007 1,86,45,886 1,74,96,07,160 Merger of SOFL with our

Company

For

consideration

other than

cash

N.A.

March 27, 2007 79,300 1,75,04,00,160 ESOP$ 35/- 25/-

March 30, 2007 91,00,000 1,84,14,00,160



preferential basis

112/- 102/-

March 30, 2007 18,700 1,84,15,87,160 ESOP$ 35/- 25/-

April 27, 2007 16,000 1,84,17,47,160 ESOP$

35/-

25/-

June 30, 2007 19,500 1,84,19,42,160 ESOP$

35/-

25/-

July 31, 2007 69,00,000 1,91,09,42,160



preferential basis

112/- 102/-

August 10, 2007 7,000 1,91,10,12,160 ESOP$

35/-

25/-


28


shares issued

and allotted

Cumulative

Paid-up

capital in (Rs.)


(Rs.)

Premium (Rs.)

October 13, 2007 34,200 1,91,13,54,160 ESOP$

35/-

25/-

December 14, 2007 1,20,00,000 2,03,13,54,160 Preferential Issue 300/- 290/-

June 25, 2008 87,100 2,03,22,25,160 ESOP$

35/-

25/-

July 14, 2008 81,150 2,03,30,36,660 ESOP$

35/-

25/-

July 24, 2008 94,850 2,03,39,85,160 ESOP$

35/-

25/-

September 19, 2008 74,600 2,03,47,31,160 ESOP$

35/-

25/-

October 27, 2008 29,300 2,03,50,24,160 ESOP$

35/-

25/-

December 10, 2008 9,200 2,03,51,16,160 ESOP$

35/-

25/-

May 16, 2009 34,200 2,03,54,58,160 ESOP$

35/-

25/-

June 12, 2009 80,00,000 2,11,54,58,160


December 14, 2007 on

preferential basis

300/- 290/-

July 16, 2009 95,350 2,11,64,11,660 ESOP$ 35/- 25/-

November 10, 2009 10,96,750 2,12,73,79,160 ESOP$ 35/- 25/-

November 24, 2009 36,650 2,12,77,45,660 ESOP$ 35/- 25/-


29


shares issued

and allotted

Cumulative

Paid-up

capital in (Rs.)


(Rs.)

Premium (Rs.)

January 28, 2010 11,658,552 2,24,43,31,180 Qualified Institutional

Placement 500.80/- 490.80/-

March 26, 2010

10,84,700

2,25,51,78,180

ESOP$ 35/- 25/-

September 09, 2010 20,400 2,25,53,82,180 ESOP$ 35/- 25/-

December 06, 2010 6,22,450 2,26,16,06,680 ESOP$ 35/- 25/-

May 13, 2011 23,400 2,26,18,40,680 ESOP$ 35/- 25/-

September 02, 2011 37,600 2,26,22,16,680 ESOP$ 35/- 25/-

March 29, 2012 78,900 2,26,30,05,680 ESOP$ 35/- 25/-

Total 22,63,00,568 -

$ Equity Shares allotted to the employees of our Company as fully paid up under the Company‟s Employees

Stock Option Scheme 2005 on exercise of vested options.

Notes:

1. 45,000 convertible debentures of face value of Rs. 100/- each were issued on April 26, 1986. 15,000 of the

convertible debentures were converted into 1,50,000 Equity Shares on October 26, 1986, another 15,000 of the

convertible debentures were converted into 1,50,000 Equity Shares on October 26, 1987 and the remaining

15,000 of the convertible debentures were converted into 1,50,000 Equity Shares on October 26, 1988.

2. 3,45,000 convertible debentures of face value of Rs. 150/- each, were issued on November 30, 1990. Pursuant

to the conversion of the debentures, 17,25,000 Equity Shares have been allotted on June 1, 1991, 17,25,000

Equity Shares have been allotted on March 1, 1992 and 17,20,420 Equity Shares have been allotted on

December 1, 1992.

3. 45,34,370 convertible debentures of face value of Rs. 50/- each were issued on June 26, 1997. Pursuant to the

conversion of the debentures, 45,34,370 Equity Shares have been allotted on June 26, 1998, 90,68,740 Equity

Shares have been allotted on June 26, 1999 and 90,68,740 Equity Shares have been allotted on June 26,

2000.

4. Pursuant to a scheme of amalgamation sanctioned by the Hon‟ble High Court of Madras vide its order dated


30

November 25, 2005, our Company issued and allotted 6,06,33,350 fully paid-up Equity Shares of our

Company to the shareholders of SIL, whose names appeared in the register of members on record date in

connection with the aforesaid scheme of amalgamation, in a ratio of 1 fully paid up Equity Shares of our

Company, for every 1 fully paid up equity share of the face value of Rs. 10/- each, of SIL.

5. Pursuant to a scheme of amalgamation sanctioned by the Hon‟ble High Court of Madras vide its order dated

December 1, 2006, our Company issued and allotted 1,86,45,886 fully paid-up Equity Shares of our Company

to the shareholders of SOFL, whose names appeared in the register of members on record date in connection

with the aforesaid scheme of amalgamation, in a ratio of 3 fully paid up Equity Shares of our Company, for

every 5 fully paid up equity share of the face value of Rs. 10/- each, of SOFL.

6. On January 28, 2010, our Company issued and allotted 1,16,58,552 Equity Shares of at a price of Rs. 500.80 per

such Equity Share, aggregating to Rs. 58,386.03 lacs to Qualified Institutional Buyers pursuant to the

provisions of Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure

Requirements) Regulations, 2009, as amended.

7. The Board of Directors of our Company and the board of directors of SHMPL have in their respective board

meetings, both held on December 21, 2011, have passed resolutions, approving a scheme of amalgamation and

arrangement, whereby the business and undertaking of our Promoter is proposed to be merged into our

Company. The Competition Commission of India has approved the proposed SHMPL Scheme, pursuant to its

order dated January 17, 2012. The NSE and the BSE have issued their no-objection to the proposed SHMPL

Scheme, pursuant to their letters dated February 23, 2012 and February 22, 2012, respectively. In the court

convened meetings of our equity shareholders and secured creditors of our Company both held on June 14,

2012, the SHMPL Scheme was approved by requisite majority of equity shareholders and unanimously by

secured creditors present and voting at the respective meetings. Our Company has filed a petition dated June

25, 2012, before the Hon‟ble High Court of Madras, pursuant to Sections 391 to 394 read with Sections 100 to

104 of the Act seeking approval to the SHMPL Scheme. Pursuant to the proposed SHMPL Scheme,

9,38,72,380 equity shares of the face value of Rs. 10 each fully paid up of our Company, shall be issued and

allotted, to the members of our Promoter whose names are recorded in the register of members of our Promoter

on the specified date in connection with the proposed SHMPL Scheme, in the ratio of 313:124 i.e. 313 equity

shares of the face value of Rs. 10 each fully paid up of our Company to be issued for every 124 equity shares

of the face value of Rs. 10 each fully paid up of our Promoter, held by the respective members. Accordingly,

9,33,71,512 (Nine crores thirty three Lacs seventy one thousand five hundred and twelve only) equity shares of

the face value of Rs. 10 each of our Company, currently held by our Promoter shall stand cancelled pursuant to

the SHMPL Scheme coming into effect.

V. Securities issued and sought to be listed under the current document

Private placement of Rated, Secured, Redeemable, Non-Convertible Debentures of the face value of Rs. 10,00,000/-

each, to be issued in one or more tranches, aggregrating to Rs. 200.00 crores + Greenshoe of Rs.200 crores.

The Company has obtained Rating for the above said issue. The Debentures have been rated AA+ by Care vide their

letter dated 10/10/2012.

For further details of the debentures, please refer the summary term sheet given in Clause XXIII of this document.


31

VI. Issue Size

Private placement of Rated, Secured, Redeemable, Non-Convertible Debentures of the face value of Rs. 10,00,000/-

each, to be issued in one or more tranches, aggregrating to Rs. 200.00 crores + Greenshoe of Rs.200 crores.

VII. Details of utilization of the issue proceeds

The current borrowing program will be used to augment the working capital requirements of the Company.

The expenses of the present issue would also be met from the Proceeds of the Issue. The Main Object Clause of the

Memorandum of Association of the Company enables it to undertake the activities for which the funds are being raised

through the present issue and also the activities, which the Company has been carrying on till date. The Proceeds of

this Issue after meeting all expenses of the Issue will be used by the Company for meeting the issue objects.

The Main Objects clause of the Memorandum of Association of our Company permits our Company to undertake the

activities for which the funds are being raised through the present Issue and also the activities which our Company has

been carrying out till date.

Main objects of our Company

The main objects of our Company as contained in our Memorandum of Association are as follows:

To carry on and undertake business as Financiers and Capitalists, to finance operations of all kinds such as

managing, purchasing, selling, hiring, letting on hire and dealing in all kinds of vehicles, motor cars, motor

buses, motor lorries, scooters and all other vehicles;

To undertake and carry on all operations and transactions in regard to business of any kind in the same way as

an individual capitalist may lawfully undertake and carry out and in particular the financing Hire Purchase

Contracts relating to vehicles of all kinds;

To carry on and undertake business as Financier and Capitalists to finance operations of all kinds such as

managing, purchasing, selling, hiring, letting on hire and dealing in all kinds of property, movable or

immovable goods, chattels, lands, bullion;

To undertake and carry on all operations and transactions in regard to business of any kind in the same manner

as an individual capitalist may lawfully undertake and carryout and in particular financing hire purchase

contracts relating to property or assets of any description either immovable or movable such as houses, lands,

stocks, shares, Government Bonds;

To carry on and become engaged in financial, monetary and other business transactions that are usually and

commonly carried on by Commercial Financing Houses, Shroffs, Credit Corporations, Merchants, Factory,

Trade and General Financiers and Capitalists;

To lend, with or without security, deposit or advance money, securities and property to, or with, such persons

and on such terms as may seem expedient;

To purchase or otherwise acquire all forms of immovable and movable property including Machinery,

Equipment, Motor Vehicles, Building, Cinema Houses, Animals and all consumer and Industrial items and to

lease or otherwise deal with them in any manner whatsoever including resale thereof, regardless of whether the

property purchased, and leased be new and/or used;

To provide a leasing advisory counselling service to other entities and/or form the leasing arm for other entities;

The Company shall either singly or in association with other Bodies Corporate act as Asset Management

Company/Manager/Fund Manager in respect of any Scheme of Mutual Fund whether Open-End Scheme or


32

Closed-end Scheme, floated/ to be floated by any Trust/Mutual Fund (whether offshore or on shore)/ Company

by providing management of Mutual Fund for both offshore and onshore Mutual Funds, Financial Services

Consultancy, exchange of research and analysis on commercial basis;

Constitute any trust and to subscribe and act as, and to undertake and carry on the office or offices and duties of

trustees, custodian trustees, executors, administrators, liquidators, receivers, treasurers, attorneys, nominees and

agents; and to manage the funds of all kinds of trusts and to render periodic advice on investments, finance,

taxation and to invest these funds from time to time in various forms of investments including shares, term

loans and debentures etc.;

Carry on and undertake the business of portfolio investment and Management, for both individuals as well as

large Corporate Bodies and/or such other bodies as approved by the Government, in Equity Shares, Preference

Shares, Stock, Debentures (both convertible and non-convertible), Company deposits, bonds, units, loans

obligations and securities issued or guaranteed by Indian or Foreign Governments, States, Dominions,

Sovereigns, Municipalities or Public Authorities and/or any other Financial Instruments, and to provide a

package of Investment/Merchant Banking Services by acting as Managers to Public Issue of securities, to act as

underwriters, issue house and to carry on the business of Registrar to Public issue/various investment schemes

and to act as Brokers to Public Issue;

Without prejudice to the generality of the foregoing to acquire any share, stocks, debentures, debenture-stock,

bonds, units of any Mutual Fund Scheme or any other statutory body including Unit Trust of India, obligations

or securities by original subscription, and/or through markets both primary, secondary or otherwise participating

in syndicates, tender, purchase, (through any stock exchange, OTC exchange or privately), exchange or

otherwise and to subscribe for the same whether or not fully paid up, either conditionally or otherwise, to

guarantee the subscription thereof and to exercise and to enforce all rights and powers conferred by or

incidental to the ownership thereof and to advance deposit or lend money against securities and properties to or

with any company, body corporate, firms, person or association or without security and on such terms as may

be determined from time to time;

To engage in Merchant Banking activities, Venture Capital, acquisitions, amalgamations and all related

merchant banking activities including loan syndication;

To carry on the business as manufacturers, Exporters, Importers, Contractors, Sub-contractors, Sellers, Buyers,

Lessors or Lessees and Agents for Wind Electric Generators and turbines, Hydro turbines, Thermal Turbines,

Solar modules and components and parts including Rotor blades, Braking systems, Tower, Nacelle, Control

unit, Generators, etc. and to set up Wind Farms for the company and/or for others either singly or jointly and

also to generate, acquire by purchase in bulk, accumulate, sell, distribute and supply electricity and other power

(subject to and in accordance with the laws in force from time to time);

To carry on business of an investment company or an Investment Trust Company, to undertake and transact

trust and agency investment, financial business, financiers and for that purpose to lend or invest money and

negotiate loans in any form or manner, to draw, accept, endorse, discount, buy, sell and deal in bills of

exchange, hundies, promissory notes and other negotiable instruments and securities and also to issue on

commission, to subscribe for, underwrite, take, acquire and hold, sell and exchange and deal in shares, stocks,

bonds or debentures or securities of any Government or Public Authority or Company, gold and silver and

bullion and to form, promote and subsidise and assist companies, syndicates and partnership to promote and

finance industrial enterprises and also to give any guarantees for payment of money or performance of any

obligation or undertaking, to give advances, loans and subscribe to the capital of industrial undertakings and to

undertake any business transaction or operation commonly carried on or undertaken by capitalists, promoters,

financiers and underwriters;

To act as investors, guarantors, underwriters and financiers with the object of financing Industrial Enterprises,

to lend or deal with the money either with or without interest or security including in current or deposit account

with any bank or banks, other person or persons upon such terms, conditions and manner as may from time to

time be determined and to receive money on deposit or loan upon such terms and conditions as our Company

may approve provided that our Company shall not do any banking business as defined under the Banking

Regulations Act, 1949;


33

To carry on in India or elsewhere the business of consultancy services in various fields, such as, general,

administrative, commercial, financial, legal, economic, labour and industrial relations, public relations,

statistical, accountancy, taxation and other allied services, promoting, enhancing propagating the activity of

investment in securities, tendering necessary services related thereto, advising the potential investors on

investment activities, acting as brokers, sub-brokers, Investment Consultant and to act as marketing agents,

general agents, sub agents for individuals/ bodies corporate/Institutions for marketing of shares, securities,

stocks, bonds, fully convertible debentures, partly convertible debentures, Non-convertible debentures,

debenture stocks, warrants, certificates, premium notes, mortgages, obligations, inter corporate deposits, call

money deposits, public deposits, commercial papers, general insurance products, life insurance products and

other similar instruments whether issued by government, semi government, local authorities, public sector

undertakings, companies corporations, co-operative societies, and other similar organizations at national and

international levels;

To carry on the business of buying, selling of trucks and other CVs and reconditioning, repairing, remodelling,

redesigning of the vehicles and also acting as dealer for the said vehicles, for all the second hand commercial

and other vehicles and to carry on the business of buying, selling, importing, exporting, distributing,

assembling, repairing and dealing in all types of vehicles including re-conditioned and re-manufactured

automobiles, two and three wheelers, tractors, trucks and other vehicles and automobile spares, replacement

parts, accessories, tools, implements, tyres and tubes, auto lamps, bulbs, tail light and head light bulbs,

assemblies and all other spare parts and accessories as may be required in the automobile industry.

VIII. A statement containing particulars of the dates of, and parties to all Material Contracts and Agreements

involving financial obligations of the Company

Certificate of Incorporation of the Company dated June 30, 1979.

Memorandum & Articles of Association of the Company

The certificate of registration No. 07-00459 dated April 17, 2007 issued by Reserve Bank of India u/s 45 IA of

the Reserve Bank of India, 1934.

Credit Rating Letter from Care

Trustee Consent Letter

Registrars‟ Consent Letter dated 20th July 2007.

Tripartite agreement with NSDL dated 8th September 2004, respectively.

Certified true copy of resolution passed by the Share Holders of the company u/s 293(1)(d) of the Companies

Act, 1956 approving the overall borowering limit of the company.

Certified true copy of the resolution passed by the Share holders of the Company u/s 293(1)(a) of the

Companies Act, 1956 dated 5th July, 2012 authorizing the Board of Directors to create a charge on or

hypothecate the assets of the Company.

Certified true copy of resolution passed by the Board of Directors, u/s 292(1)(b) of the Companies Act, 1956,

approving the overall NCD limits and the resolution of Banking and Finance Committee of the Board of

Directors for the current issue.

Share Purchase Agreement dated March 28, 2007, with Ashley Transport Services Limited, Ashok Leyland

Limited and IndusInd Bank Limited.

Shareholders‟ agreements/ Share subscription agreements with strategic investors.

Agreement dated 8th September 2006 with Axis Bank for issue of Co-branded credit cards.

Assignment Agreement dated December 22, 2009 with GE Capital Services India and GE Capital Financial

Services.

License and User Agreement dated April 1, 2010 with Shriram Ownership Trust.

Agreement dated August 21, 2010 with Shriram Capital Limited.


34

Employee Stock Option Scheme of 2005 of the Company.

Copy of the Board Resolution appointing the Managing Director of the Company dated February 10, 2012.

Copy of the shareholders‟ resolution appointing the Managing Director of the Company dated July 5, 2012.

Copy of the SHMPL Scheme between our Company and SHMPL.

Copy of the Board Resolution dated December 21, 2011, approving the scheme of arrangement and

amalgamation of Shriram Holdings (Madras) Private Limited with our Company.

Order dated January 17, 2012, passed by the Competition Commission of India, approving the SHMPL

Scheme.

Letter dated February 22, 2012, issued by BSE, approving the SHMPL Scheme.

Letter dated February 23, 2012, issued by NSE, approving the SHMPL Scheme.

Resolution dated June 14, 2012, passed by the equity shareholders of our Company, approving the SHMPL

Scheme.

Resolution dated June 14, 2012, passed by the secured creditors of our Company, approving the SHMPL

Scheme.

Copy of the Petition dated June 25, 2012, filed by our Company, before the Hon‟ble High Court of Madras,

pursuant to Sections 391-394 read with Sections 100 to 104 of the Act seeking approval of the SHMPL

Scheme.

Share Subscription Agreement dated February 2, 2006 and Amendment Agreement dated September 12, 2008

with Newbridge India Investments II Limited, Mr. R. Thyagarajan, Mr. T Jayaraman, Mr. AVS Raja, Shriram

Holdings (Madras) Private Limited, Shriram Financial Services Holdings Private Limited, Shriram Recon

Trucks Limited and SOFL.

Share Purchase Agreement dated March 28, 2007, with Ashley Transport Services Limited, Ashok Leyland

Limited and IndusInd Bank Limited.

Agreement dated September 8, 2006 and Supplemental Agreement dated July 20, 2007 with Axis Bank

Limited, (formerly UTI Bank Limited), in connection with co-branded Credit Cards.

Assignment Agreement dated December 22, 2009 with GE Capital Services India and GE Capital Financial

Services.

License Agreement dated April 1, 2010 with Shriram Ownership Trust.

Agreement dated August 21, 2010 with Shriram Capital Limited.

Service Agreement dated January 24, 2012 with Shriram Capital Limited.

IX. Details of Borrowings including any other securities in past

A. Details of Secured Borrowings:

Our Company’s secured borrowings (gross of unamortised discount of Rs. 5,139.57 lacs) as on March

31, 2012 amount to Rs. 17,85,710.34 lacs on an unconsolidated basis. The details of the borrowings

are set out below:

1. Term Loans from Banks:

(` in lacs)


35

Sr.

No.

Particulars Date of

disbursement

Amount outstanding

as on March 31,

2012

Maturity date

1. Abu Dhabi Commercial Bank

Limited

March 1, 2011 1,333.33 March 1, 2014

2. Allahabad Bank September 26,

2007

300.89 September 26, 2012

3. Allahabad Bank January 28, 2011 10,000.00 January 28, 2015

4. Andhra Bank March 16, 2009 2,417.35 March 16, 2013

5. Andhra Bank November 30,

2009

8,715.45 November 30, 2013

6. Australia & New Zealand Banking

Group Limited

January 31, 2012 5,000.00 January 31, 2013

7. Axis Bank Limited December 23,

2010

33,333.33 December 23, 2013

8. Axis Bank Limited February 8, 2011 33,333.33 February 8, 2014

9. Axis Bank Limited June 5, 2010 7.25 May 5, 2015

10. Bank of Baroda September 29,

2011

24,998.62 September 29, 2015

11. Bank of Maharashtra May 16, 2011 16,664.26 May 16, 2016

12. Bank of Maharashtra February 23, 2012 10,000.00 May 24, 2012

13. The Bank of Tokyo – Mitsubhishi

UFJ Limited

August 29, 2011 18,000.00 June 24, 2014


UFJ Limited

May 13, 2010 7,500.00 May 13, 2012


UFJ Limited

March 24, 2011 2,000.00 June 24, 2014

16. Barclays Bank November 14,

2011

3,796.27 November 8, 2012

17. Barclays Bank November 21,

2011

7,630.50 November 15, 2012

18. Calyon Bank March 10, 2011 5,000.00 March 10, 2013


36

Sr.

No.

Particulars Date of

disbursement

Amount outstanding

as on March 31,

2012

Maturity date

19. Canara Bank June 26, 2009 7,812.50 June 26, 2013

20. Canara Bank November 25,

2009

21,875.00 November 25, 2013

21. Canara Bank November 5, 2008 3,750.00 November 5, 2012

22. Canara Bank March 31, 2009 6,250.00 March 31, 2013

23. Canara Bank October 17, 2008 3,750.00 October 17, 2012

24. Central Bank of India June 30, 2009 6,250.00 June 30, 2013

25. Citi Bank N.A. October 25, 2011 10,000.00 October 24, 2012

26. City Union Bank Limited June 16, 2010 1,783.80 June 16, 2015

27. Corporation Bank March 26, 2009 624.77 March 26, 2013

28. Corporation Bank March 25, 2010 5,998.55 March 25, 2015

29. Corporation Bank December 31,

2010

7,500.00 December 31, 2015

30. Development Bank of Singapore

Limited

June 15, 2010 10,900.00 June 15, 2012


Limited

March 9, 2011 11,000.00 October 9, 2014


Limited

March 23, 2011 5,000.00 October 23, 2014

33. Dena Bank July 31, 2009 7,505.10 July 31, 2013

34. Deutsche Bank April 9, 2010 10,000.00 October 8, 2012

35. Dhanlaxmi Bank Limited March 12, 2010 2,669.51 March 12, 2014

36. Federal Bank Limited June 28, 2011 10,000.00 March 31, 2014

March 31, 2011 March 31, 2014

37. HDFC Bank Limited July 25, 2008 1,071.43 July 25, 2012

38. HDFC Bank Limited May 12, 2010 21.19 May 5, 2015


37

Sr.

No.

Particulars Date of

disbursement

Amount outstanding

as on March 31,

2012

Maturity date

39. HDFC Bank Limited October 3, 2009 5,000.00 October 3, 2013

40. Hongkong and Shanghai Banking

Corporation Limited

February 4, 2011 5,750.00 February 4, 2014


Corporation Limited



Corporation Limited

April 12, 2010 3,611.11 April 12, 2013


Corporation Limited

May 27, 2011 4,520.00 May 28, 2013


Corporation Limited

March 23, 2010 3,333.33 April 23, 2013


Corporation Limited

May 6, 2011 14,000.00 May 6, 2013


Corporation Limited

August 18, 2010 5,902.78 August 18, 2013

47. Industrial Development Bank of

India Limited

August 31, 2010 13,809.52 March 1, 2014


India Limited

March 24, 2009 2,142.86 September 24, 2012


India Limited

September 29,

2009

8,571.43 September 29, 2013


India Limited

October 24, 2008 714.29 July 1, 2012


India Limited

December 10,

2008

1,428.57 July 1, 2012

52. Indian Bank January 29, 2010 9,205.36 January 29, 2014

53. Indian Bank June 30, 2010 11,137.07 June 30, 2014

54. Indian Bank June 30, 2011 22,481.65 June 30, 2016

55. Indian Overseas Bank January 20, 2011 15,000.00 January 20, 2015


38

Sr.

No.

Particulars Date of

disbursement

Amount outstanding

as on March 31,

2012

Maturity date

56. ING Vysya Bank Limited October 30, 2009 738.89 October 30, 2012

57. ING Vysya Bank Limited October 14, 2010 4,750.00 September 30, 2013

58. J P Morgan Chase Bank February 14, 2011 10,000.00 May 15, 2013

59. Jammu & Kashmir Bank Limited September 29,

2010

21,428.00 September 29, 2014

60. Karnataka Bank Limited May 28, 2010 2,812.50 May 28, 2014

61. Karur Vysya Bank Limited July 31, 2009 750.00 July 31, 2013

62. Karur Vysya Bank Limited July 20, 2010 1,562.50 July 20, 2014

63. Laxmi Vilas Bank December 31,

2010

9,999.12 December 31, 2012

64. Oriental Bank of Commerce August 24, 2009 2,775.89 August 24, 2012

65. Punjab & Sind Bank November 18,

2009

1,388.86 February 19, 2013

66. Punjab & Sind Bank March 15, 2012 10,000.00 March 15, 2016

67. Punjab National Bank July 27, 2009 1,176.00 May 27, 2012

68. Punjab National Bank March 26, 2010 7,360.00 January 29, 2013

69. Punjab National Bank December 29,

2011

5,000.00 April 29, 2012

70. Shinhan Bank February 9, 2009 2,800.00 January 1, 2014

71. Societe Generale Bank March 3, 2011 1,750.40 March 20, 2013

72. South Indian Bank Limited August 18, 2008 625.00 August 18, 2012

73. South Indian Bank Limited March 20, 2009 625.00 March 20, 2013

74. South Indian Bank Limited December 17,

2009

2,187.50 December 17, 2013

75. Standard Chartered Bank January 28, 2010 10,000.00 January 28, 2013

76. Standard Chartered Bank February 14, 2011 20,000.00 February 14, 2014


39

Sr.

No.

Particulars Date of

disbursement

Amount outstanding

as on March 31,

2012

Maturity date

77. State Bank of Bikaner & Jaipur March 31, 2009 1,860.00 March 31, 2013

April 9, 2009 March 31, 2013

78. State Bank of Hyderabad November 5, 2009 10,917.16 November 5, 2013

79. State Bank of Mauritius April 6, 2010 312.50 April 6, 2013

80. State Bank of Mauritius December 30,

2010

1,575.00 December 30, 2013

81. State Bank of Mysore March 5, 2009 2,354.17 March 5, 2013

82. State Bank of Mysore September 19,

2008

1,747.69 October 1, 2012

83. State Bank of Patiala July 30, 2008 2,809.10 July 30, 2012

84. State Bank of Patiala September 29,

2009

7,840.00 September 29, 2013

85. State Bank of Travancore September 29,

2009

1,660.00 September 29, 2012

86. State Bank of Travancore November 9, 2010 7,329.56 November 9, 2015

87. Syndicate Bank September 29,

2009

5,625.00 September 29, 2013

88. Tamilnad Mercantile Bank

Limited

June 22, 2009 1,562.15 June 22, 2013

89. UBS A.G. Bank (Rollover) July 30, 2010 10,000.00 July 28, 2012

90. UCO Bank September 25,

2009

5,623.99 September 25, 2013

91. Union Bank of India December 31,

2009

13,102.99 December 31, 2013

92. United Bank of India June 3, 2008 312.53 June 1, 2012

93. United Bank of India December 31,

2008

1,874.62 January 1, 2013


40

Sr.

No.

Particulars Date of

disbursement

Amount outstanding

as on March 31,

2012

Maturity date

94. United Bank of India September 29,

2011

27,000.00 September 29, 2016

95. United Bank of India March 13, 2009 3,735.50 April 1, 2013

96. United Bank of India September 25,

2009

3,739.26 September 25, 2013

97. Vijaya Bank August 28, 2010 3,014.42 August 28, 2014

Total 6,84,425.71

2. Term Loans from Others:

(` in lacs)

Sr.

No.

Particulars Date of disbursement Amount outstanding

as on March 31, 2012

Maturity date

1. GE Capital Services

Limited

April 20, 2010 5,000.00 April 20, 2013

2. Citicorp Finance India

Limited

July 21, 2011 9,500.00 July 21, 2012

3. Citicorp Finance India

Limited

September 29, 2011 10,000.00 September 29,

2012

Total 24,500.00

3. Cash Credit from Banks:

(` in lacs)

Sr.

No.

Particulars Date of

Disbursement

Amount outstanding

as on March 31,

2012

1. Axis Bank Limited September 20, 2010 5,140.85

2. Bank of Baroda July 10, 2010 7,505.27


41

3. Bank of Ceylon December 7, 2009 599.45

4. Bank of India June 3, 2010 46,502.42

5. Canara Bank March 19, 2011 5,002.20

6. Central Bank of India August 21, 2009 29,517.23

7. Dena Bank August 26, 2010 5,578.23

8. Federal Bank Limited March 16, 2011 2,401.84

9. IDBI Bank Limited January 21, 2008 38,067.91

10. Indian Overseas Bank October 20, 2010 103.47

11. Indusind Bank Limited March 2, 2010 0.03

12. Punjab National Bank December 24, 2007 790.13

13. State Bank of Mysore December 30, 2010 7,502.92

14. State Bank of Travancore October 4, 2010 7,294.05

15. State Bank of India March 29, 2011 45,652.71

16. State Bank of Patiala September 7, 2009 2,537.61

17. UCO Bank September 1, 2009 5,017.67

18. Union Bank of India March 31, 2011 72.86

19. United Bank of India January 10, 2011 14,516.18

20. State Bank of Bikaner & Jaipur March 8, 2011 2,501.11

21. Andhra Bank December 30, 2009 15,027.85

22. Indian Bank January 29, 2010 4,285.51

23. Syndicate Bank March 4, 2010 122.27


42

24. Allahabad Bank December 22, 2010 19,721.29

25. Vijaya Bank December 30, 2010 9,547.47

26. Corporation Bank December 10, 2010 2,504.97

27. Deutsche Bank September 24, 2009 83.29

Total 277,596.79

4. Our Company has issued secured redeemable non convertible debenture of face value of ` 10,00,000 each on a private

placement basis of which ` 328,160.00 lacs (gross of unamortised discount of ` 5,139.57 lacs) is outstanding as on March 31,

2012, the details of which are set forth below:

(` in lacs)

Sr.

No.

Description Date of Allotment Amount

outstanding

as on March

31, 2012

Maturity Date

1. Life Insurance Corporation of India November 3, 2008 30,000.00 November 3, 2013

2. General Insurance Corporation of India November 26, 2008 1,000.00 November 26, 2013

3. Corporation Bank May 4, 2010 2,000.00 May 4, 2013

4. Rural Postal Life Insurance Fund A/C

UTI Amc

May 4, 2010 500.00 May 4, 2013

5. Cholamandalam Ms General Insurance

Company Limited

May 6, 2010 1,000.00 May 6, 2013

6. Corporation Bank May 6, 2010 1,000.00 May 6, 2013

7. Kotak Mahindra Trustee company

Limited A/C Kotak Fixed Maturity Plan

Series 50

May 6, 2010 500.00 May 6, 2013

8. ICICI Prudential Multiple Yield Fund-

Three Years Plan A

June 15, 2011 2,000.00 June 10, 2014


43

Sr.

No.


outstanding

as on March

31, 2012

Maturity Date

9. Standard Chartered Bank (Mauritius)

Limited –Debt

July 4, 2011 10,000.00 July 4, 2013



Series 55

July 4, 2011 1,500.00 July 4, 2013



Series 73

July 4, 2011 1,000.00 July 4, 2013


Limited –Debt

July 4, 2011 10,000.00 July 4, 2012

13. DSP Blackrock Money Manager Fund July 4, 2011 4,000.00 July 4, 2012

14. DSP Blackrock Income Opportunities

Fund

July 4, 2011 1,000.00 July 4, 2012

15. HDFC Trustee Company Limited HDFC

MF Monthly Income Plan Long Term Plan

July 27, 2011 6,500.00 July 27, 2014

16. IDFC Super Saver Income Fund- Short

Term

July 27, 2011 5,600.00 July 27, 2014


Limited –Debt

July 27, 2011 4,500.00 July 27, 2014

18. HDFC Trustee Company Limited - HDFC

Short Term Plan

July 27, 2011 1,500.00 July 27, 2014

19. IDFC Fixed Maturity Plan 3 Year Series –

5

July 27, 2011 1,400.00 July 27, 2014

20. IDFC Super Saver Income Fund- Medium

Term Fund

July 27, 2011 500.00 July 27, 2014


44

Sr.

No.


outstanding

as on March

31, 2012

Maturity Date


Limited –Debt

July 27, 2011 10,000.00 July 19, 2013

22. Reliance Capital Trustee company

Limited-A/C Reliance Fixed Horizon Fund

XX Series 31

July 27, 2011 2,500.00 July 19, 2013

23. ICICI Prudential Fixed Maturity Plan

Series 58-Two Year Plan C

July 27, 2011 2,300.00 July 19, 2013

24. Tata Trustee Company Limited A/C Tata

Mutual Fund A/C Tata Fixed Maturity

Plan - Series 32

July 27, 2011 2,000.00 July 19, 2013



Series 55

July 27, 2011 700.00 July 19, 2013

26. IDFC Fixed Maturity Plan Eighteen

Months Series 10

July 27, 2011 620.00 July 19, 2013

27. Sundaram Mutual Fund A/C Sundaram

FTP – CK

July 27, 2011 500.00 July 19, 2013


FTP – BF

July 27, 2011 430.00 July 19, 2013

29. IDFC Premier Equity Fund July 27, 2011 380.00 July 19, 2013



Series 58

July 27, 2011 300.00 July 19, 2013


Series 58-Two Year Plan D

July 27, 2011 110.00 July 19, 2013

32. ICICI Prudential Short Term Plan July 27, 2011 90.00 July 19, 2013


45

Sr.

No.


outstanding

as on March

31, 2012

Maturity Date


Balanced Fund

July 27, 2011 70.00 July 19, 2013



Series 63

August 10, 2011 1,500.00 October 10, 2013

35. ICICI Securities Primary Dealership

Limited

August 10, 2011 500.00 October 10, 2013


FTP – BO

August 10, 2011 500.00 October 10, 2013

37. HSBC Income Fund - Short Term Plan August 10, 2011 2,200.00 September 10, 2013

38. HSBC MIP Savings Plan August 10, 2011 300.00 September 10, 2013


Limited –Debt

August 10, 2011 7,000.00 September 2, 2013

40. IDFC Fixed Maturity Plan 2 Year Series –

1



Term


42. L And T Mutual Fund A/C L And T Fixed

Maturity Plan Iv (July 24Ma)

August 10, 2011 500.00 August 9, 2013


Term

August 25, 2011 5,000.00 August 22, 2014

44. HDFC Trustee Company Limited HDFC

Mf Monthly Income Plan Long Term Plan

August 25, 2011 2,500.00 August 22, 2014

45. United Bank of India August 25, 2011 2,500.00 August 22, 2014


46

Sr.

No.


outstanding

as on March

31, 2012

Maturity Date

46. Tata Trustee Company Limited A/C Tata

Mutual Fund A/C Tata Fixed Tenure

Fund - Series 2 Scheme B

August 25, 2011 1,000.00 August 22, 2014

47. Max New York Life Insurance Company

Limited A/C -

Ulif00125/06/04Lifegrowth104 - Growth

Fund

August 25, 2011 970.00 August 22, 2014


Limited A/C -

Ulif00225/06/04Lifebalanc104 -

Balanced Fund

August 25, 2011 250.00 August 22, 2014


Limited A/C -

Ulif01425/03/08Lifedynopp104 -

Dynamic Opportunities Fund

August 25, 2011 150.00 August 22, 2014


Limited A/C -

Ulif00525/11/05Pensgrowth104 -

Pension Growth Fund

August 25, 2011 100.00 August 22, 2014


Limited A/C -

Ulif00625/11/05Pensbalanc104 -

Pension Balanced Fund

August 25, 2011 20.00 August 22, 2014


Limited A/C -

Ulif00825/11/05Penssecure104 -

Pension Secured Fund

August 25, 2011 10.00 August 22, 2014

53. ICICI Prudential Life Insurance Company

Limited

August 25, 2011 5,000.00 August 24, 2016

54. SBI Life Insurance Company Limited August 25, 2011 2,000.00 August 24, 2016


47

Sr.

No.


outstanding

as on March

31, 2012

Maturity Date

55. UTI-Unit Linked Insurance Plan August 25, 2011 2,000.00 August 24, 2016

56. UTI - Childrens Career Balanced Plan August 25, 2011 2,000.00 August 24, 2016

57. Bajaj Allianz Life Insurance Company

Limited

August 25, 2011 1,500.00 August 24, 2016


Limited A/C -

Ulif00125/06/04Lifegrowth104 - Growth

Fund

August 25, 2011 1,000.00 August 24, 2016

59. UTI Short Term Income Fund August 25, 2011 1,000.00 August 24, 2016

60. Bajaj Allianz General Insurance Company

Limited

August 25, 2011 1,000.00 August 24, 2016

61. United Bank of India August 25, 2011 500.00 August 24, 2016

62. Credit Suisse Finance (India) Private

Limited

September 14, 2011 625.00 September 13, 2021

63. Credit Suisse Finance (India) Private

Limited

September 14, 2011 625.00 September 13, 2017

64. Deutsche Trustee Services (India)

PrivateLimited A/C Dws Hybrid Fixed

Term Fund - Series 3

November 11, 2011 500.00 October 23, 2014


PrivateLimited A/C Dws Fixed Term Fund

Series 91

November 11, 2011 500.00 October 23, 2014

66. Deutsche Trustee Services (India) Private

Limited A/C Dws Short Maturity Fund

November 24, 2011 2,500.00 November 24, 2014

67. ICICI Prudential Multiple Yield Fund

Series 2 Plan C

November 24, 2011 540.00 November 24, 2014


48

Sr.

No.


outstanding

as on March

31, 2012

Maturity Date

68. ICICI Prudential Multiple Yield Fund

Series 2 Plan A




Series 96







Series 60-18 Months Plan C

November 28, 2011 3,000.00 June 3, 2013



Series 65

November 28, 2011 1,500.00 May 28, 2013



XXI Series 25

November 29, 2011 2,700.00 May 30, 2013


FTP - BP

December 1, 2011 840.00 November 25, 2013


Select Debt Short Term Plan

December 1, 2011 10.00 November 25, 2013

76. Religare Trustee Company Limited - A/C

Religare Fixed Maturity Plan - Series X -

Plan D

December 2, 2011 300.00 May 23, 2013


FTP – CF

December 2, 2011 670.00 May 29, 2013

78. Star Union Dai-ichi Life Insurance

Company Limited

December 2, 2011 1,000.00 December 2, 2014


49

Sr.

No.


outstanding

as on March

31, 2012

Maturity Date


Series 57 Three Years Plan C

December 2, 2011 6,000.00 November 25, 2014

80. Dsp Blackrock FTP Series - 2 - 24M December 2, 2011 1,500.00 December 4, 2013



XXI Series 19

December 5, 2011 1,500.00 May 27, 2013


Series 60-Three Years Plan E


83. ICICI Prudential Life Insurance Company

Limited


84. General Insurance Corporation of India December 12, 2011 1,000.00 December 12, 2016

85. Nps Trust- A/C Lic Pension Fund Scheme

- Central Government

December 12, 2011 400.00 December 12, 2016

86. Nps Trust- A/C Lic Pension Fund Scheme

- State Government



Term


88. FIL Trustee Company Private Limited A/C

Fidelity Fixed Maturity Plan Series Vi -

Plan B


89. FIL Trustee Company Private Limited A/C

Fidelity Short Term Income Fund


90. Citicorp Investment Bank (Singapore)

Limited


91. DSP Blackrock Ftp Series 3- 24M December 13, 2011 870.00 December 17, 2013


50

Sr.

No.


outstanding

as on March

31, 2012

Maturity Date

92. DSP Blackrock Short Term Fund December 13, 2011 130.00 December 17, 2013


FTP – CG

December 13, 2011 1,000.00 June 24, 2013

94. HDFC Trustee Co Limited A/C HDFC

Fixed Maturity Plan 24M November 2011

(1)




Series 93

December 13, 2011 500.00 June 12, 2013

96. The J And K Bank Limited December 16, 2011 1,000.00 December 16, 2016

97. SBI General Insurance Company Limited December 16, 2011 500.00 December 16, 2016




December 16, 2011 280.00 September 13, 2013




December 16, 2011 220.00 September 13, 2013

100. ICICI Securities Primary Dealership

Limited






102. Apollo Munich Health Insurance

Company Limited


103. General Insurance Corporation of India December 16, 2011 1,000.00 December 16, 2014


51

Sr.

No.


outstanding

as on March

31, 2012

Maturity Date



XXI Series 29


105. Reliance Capital Trustee Co Limited A/C-

Relianceregular Savings Fund-Debt

Option


106. ICICI Prudential Regular Savings Plan December 16, 2011 2,800.00 June 20, 2013

107. ICICI Prudential Short Term Plan December 16, 2011 2,500.00 June 20, 2013


Series 60-18 Months Plan G

December 16, 2011 2,200.00 June 20, 2013

109. BNP Paribas Bond Fund December 19, 2011 1,300.00 December 19, 2013

110. BNP Paribas Short Term Income Fund December 19, 2011 1,200.00 December 19, 2013

111. IDBI Fixed Maturity Plan - Series II - 540

Days (December 2011) - A

December 20, 2011 440.00 June 6, 2013

112. Dsp Blackrock FTP Series 4 - 36M December 21, 2011 1,900.00 December 29, 2014

113. Dsp Blackrock Dual Advantage Fund

Series 2-36M


114. Nps Trust- A/C SBI Pension Fund

Scheme - Central Government



Scheme - State Government



Scheme C - Tier I



52

Sr.

No.


outstanding

as on March

31, 2012

Maturity Date

117. Nps Trust A/C - SBI Pension Funds

Private Limited -Nps Lite Scheme -

Government Pattern



Scheme C - Tier II



FTP – CG

December 23, 2011 1,000.00 June 24, 2013



XXI Series 20

December 26, 2011 1,390.00 July 8, 2013

121. HDFC Trustee Company Limited A/C

High Interest Fund Short Term Plan


122. IDFC Super Saver Income Fund- Medium

Term Fund


123. Fil Trustee Company Private Limited A/C

Fidelity Fixed Maturity Plan Series VI -

Plan D


124. Fil Trustee Company Private Limited A/C

Fidelity Short Term Income Fund


125. Citicorp Investment Bank (Singapore)

Limited

January 19, 2012 7,500.00 December 19, 2013


Series 61-18 Months Plan B

January 20, 2012 2,870.00 July 19, 2013

127. ICICI Prudential Regular Savings Plan January 20, 2012 10.00 July 19, 2013


Series 60-27 Months Plan I

January 20, 2012 4,090.00 April 24, 2014


53

Sr.

No.


outstanding

as on March

31, 2012

Maturity Date

129. UTI-Unit Linked Insurance Plan February 9, 2012 7,000.00 February 9, 2015

130. UTI - Childrens Career Balanced Plan February 9, 2012 7,000.00 February 9, 2015

131. UTI-Unit Scheme For Charitable And

Religious Trusts And Registered Societies


132. UTI - Retirement Benefit Pension Fund February 9, 2012 1,000.00 February 9, 2015


PrivateLimited A/C Dws Fixed Maturity

Plan - Series 2

February 27, 2012 460.00 August 14, 2013


Series 61-Three Years Plan F

February 28, 2012 2,600.00 March 2, 2015

135. ICICI Prudential Multiple Yield Fund-

Series 2 Plan D

February 28, 2012 700.00 February 9, 2015

136. Birla Sun Life Trustee Company Private

Limited A/C Birla Sun Life Fixed Term

Plan - Series EO

March 15, 2012 470.00 May 30, 2013

137. Deutsche Bank AG March 21, 2012 50,000.00 March 21, 2017

138. UTI - FTIF Series XI - V (1120 Days) March 19, 2012 1,300.00 April 6, 2015

139. Take Business Cloud Private Limited March 28, 2012 2,400.00 March 28, 2013

140. Take Solutions Limited March 28, 2012 2,400.00 March 28, 2013

141. Take Solutions Limited March 28, 2012 200.00 March 28, 2013

Total 328,160.00

5. Our Company has issued secured redeemable non convertible debentures of face value of ` 1,000/- each through public issue

(2009) of which ` 69,279.47 lacs is outstanding as on March 31, 2012, the details of which are set forth below:


54

(` in lacs)

Sr.

No.

Description Number of Non Convertible

Debenture Holders

Amount outstanding as

on March 31, 2012

Redemption

Month

1. Option –I 8,340 8,724.87 August 26,

2014

August 26,

2013

August 26,

2012

2. Option –II 10,640 7,374.60 August 26,

2014

August 26,

2013

August 26,

2012

3. Option –III 10,132 10,422.51 August 26,

2014

4. Option –IV 1,763 2,274.12 August 26,

2014

5. Option –V 3,360 40,483.37 August 26,

2012

Total 34,235 69,279.47



(` in lacs)

Sr.

No.


Debenture Holders


on March 31, 2012

Redemption

Month

1. Option –I 21 3,398.67 June 1, 2015

46 10,495.95 June 1, 2015

923 1,859.85 June 1, 2015

2. Option –II 12 897.03 June 1, 2017


55

Sr.

No.


Debenture Holders


on March 31, 2012

Redemption

Month

91 832.20 June 1, 2017

2,074 4,525.13 June 1, 2017

3. Option –III

39 4,042.25 June 1, 2015

June 1, 2014

June 1, 2013

261 3,928.39 June 1, 2015

June 1, 2014

June 1, 2013

4,102 10,710.21 June 1, 2015

June 1, 2014

June 1, 2013

Total 7,569 40,689.68



(` in lacs)

Sr.

No.


Debenture Holders


on March 31, 2012

Redemption

Month

1. Option -I 35,639 53,470.83 July 11, 2016

418 24,313.78 July 11, 2016

159 7,340.36 July 11, 2016

2. Option –II 12,701 3,462.05 July 11, 2014

219 3,173.19 July 11, 2014

173 8,239.72 July 11, 2014

Total 49,309 99,999.93

8. Our Company has issued secured redeemable non convertible debentures of face value of ` 1,000/- each on a private

placement basis of which ` 2,61,058.76 lacs is outstanding as on March 31, 2012, the details of which are set forth below:


56

(` in lacs)

Description Number of debenture Holders Amount

outstanding as

on March 31,

2012

Redemption Month

Secured Redeemable Non

Convertible Debentures to

Retail debenture holders

3,13,507.00 2,61,058.76 April 2012 – November 2017

3,13,507.00 2,61,058.76

B. Details of Unsecured Borrowings:

Our Company’s Unsecured Borrowings (gross of unamortised discount of ` 2,261.72 lacs) as on March

31, 2012 amount to ` 5,34,426.90 lacs. The details of the borrowings are set forth below:

1. Subordinated Debts:

(` in lacs)

Sr.

No.

Particulars Date of

disbursement

Amount

outstanding as

on March 31,

2012

Maturity Date

1. Oriental Bank of Commerce

November 30,

2007 1,000.00 May 31, 2013

2. UTI - Monthly Income Scheme

January 29,

2008 1,500.00 July 29, 2013

3. UTI-Unit Linked Insurance Plan

January 29,

2008 1,000.00 July 29, 2013

4. Bank of India

February 1,

2008 1,500.00 May 1, 2013

5. BNP Paribas Bond Fund March 24, 2008 1,200.00 June 24, 2013

6.

BNP Paribas Fixed Term Fund - Series 22

C March 24, 2008 1,100.00 June 24, 2013

7.

Reliance Capital Trustee Company

Limited A/C Reliance Fixed Horizon Fund

XIX Series 21

March 24, 2008 1,000.00 June 24, 2013


57

Sr.

No.

Particulars Date of

disbursement

Amount

outstanding as

on March 31,

2012

Maturity Date

8.



XX Series 32

March 24, 2008 900.00 June 24, 2013

9.



XIX Series 22

March 24, 2008 500.00 June 24, 2013

10. BNP Paribas Short Term Income Fund March 24, 2008 100.00 June 24, 2013

11.


Limited A/C Reliancedual Advantage

Fixed Tenure Fund Plan B

March 24, 2008 70.00 June 24, 2013

12. BNP Paribas Monthly Income Plan March 24, 2008 50.00 June 24, 2013

13. BNP Paribas Money Plus Fund March 24, 2008 50.00 June 24, 2013

14.


Limited A/C- Relianceregular Savings

Fund-Debt Option

March 24, 2008 30.00 June 24, 2013

15. UCO Bank March 27, 2008 1,000.00 June 27, 2013

16. BNP Paribas Bond Fund May 2, 2008 1,300.00 October 3, 2013

17.


Limited A/C Reliancedual Advantage


May 2, 2008 1,000.00 October 3, 2013

18. BNP Paribas Money Plus Fund May 2, 2008 200.00 October 3, 2013

19. Bank of India March 17, 2008 1,500.00

September 17,

2013

20. HVPNL Employees Pension Fund Trust August 4, 2008 2,250.00 August 4, 2018

21. Food Corporation of India CPF Trust August 4, 2008 1,000.00 August 4, 2018

22. HVPNL Employees Provident Fund Trust August 4, 2008 750.00 August 4, 2018

23.

Gas Authority of India Limited Employees

Provident Fund Trust August 4, 2008 300.00 August 4, 2018


58

Sr.

No.

Particulars Date of

disbursement

Amount

outstanding as

on March 31,

2012

Maturity Date

24.

The Jammu And Kashmir Bank

Employees Provident Fund Trust August 4, 2008 200.00 August 4, 2018

25.

GAIL Employees Superannuation Benefit

Fund August 4, 2008 100.00 August 4, 2018

26.

Gujarat Alkalies And Chemicals Limited

Employees Provident Fund Trust August 4, 2008 100.00 August 4, 2018

27.

Everest Industries Limited Employees

Provident Fund Trust August 4, 2008 60.00 August 4, 2018

28.

GAIL (India) Limited Employees Death-

Cum-Superannuation Gratuity Scheme August 4, 2008 50.00 August 4, 2018

29.

Provident Fund of Mangalore Refinery And

Petrochemicals Limited August 4, 2008 40.00 August 4, 2018

30.

Mother Dairy Employees Provident Fund

Trust August 4, 2008 30.00 August 4, 2018

31.

GSFC Limited - Fibre Unit Employees P F


32.

Trustees Provident Fund of The

Employees of The Ugar Sugar Works

Limited

August 4, 2008 30.00 August 4, 2018

33.

British High Commission India Staff

Provident fund August 4, 2008 20.00 August 4, 2018

34. GPIN Staff Provident Fund August 4, 2008 10.00 August 4, 2018

35. Alembic Limited Provident Fund Trust August 4, 2008 10.00 August 4, 2018

36.

Atlas Cycle Industries Provident Fund


37.

Lubrizol India Limited Employees

Provident Fund August 4, 2008 10.00 August 4, 2018

38.

Chhattisgarh State Electricity Board

(CSEB) Provident Fund Trust

November 5,

2008 2,000.00 November 5, 2018


59

Sr.

No.

Particulars Date of

disbursement

Amount

outstanding as

on March 31,

2012

Maturity Date

39. Delhi Development Authority

November 5,

2008 1,000.00 November 5, 2018

40.


Gratuity and Pension Fund Trust

November 7,

2008 1,500.00 November 7, 2018

41.

Kotak Mahindra Trustee Company

Limited A/C Kotak Credit Opportunities

Fund

November 26,

2008 3,300.00 February 26, 2014

42.


Limited A/C Kotak Mahindra Bond Short

Term Plan

November 26,

2008 1,600.00 February 26, 2014

43.


Limited A/C Kotak Monthly Income Plan

November 26,

2008 100.00 February 26, 2014

44.

Jacobs H And G Private Limited

Employees Provident Fund

November 26,

2008 10.00 February 26, 2014

45. Bank of Baroda

December 11,

2008 2,000.00 March 11, 2014

46. Tata Young Citizens Fund

December 11,

2008 1,000.00 March 11, 2014

47.

Tata Trustee Company Limited A/C Tata

Mutual Fund- Tata Floater Fund

December 11,

2008 1,000.00 March 11, 2014

48.

The Indian Iron And Steel Company

Limited Provident Institution

December 11,

2008 500.00 March 11, 2014

49. Durgapur Steel Plant Provident Fund

December 11,

2008 200.00 March 11, 2014

50.

Ashok Leyland Senior Executives

Provident Fund

December 11,

2008 100.00 March 11, 2014

51.

Rameshwara Jute Mills Workers Provident

Fund Trust

December 11,

2008 100.00 March 11, 2014

52.


Employees Provident Fund Trust

December 11,

2008 50.00 March 11, 2014


60

Sr.

No.

Particulars Date of

disbursement

Amount

outstanding as

on March 31,

2012

Maturity Date

53. Shivani Kumar

December 11,

2008 13.00 March 11, 2014

54.

Russell Reynolds Associates India


December 11,

2008 5.00 March 11, 2014

55.

Frank Ross Limited Employees'

Provident Fund

December 11,

2008 5.00 March 11, 2014

56.

D S Savant And Sons Employees

Provident Fund

December 11,

2008 5.00 March 11, 2014

57. Paushak Limited Provident Fund

December 11,

2008 5.00 March 11, 2014

58. AFCO Fincon Private Limited

December 11,

2008 4.00 March 11, 2014

59.

Rai And Sons Private Limited Employees

Provident Fund

December 11,

2008 4.00 March 11, 2014

60.

Mehta And Padamsey Private Limited


December 11,

2008 2.00 March 11, 2014

61.

Mehta And Padamsey Surveyors Private

Limited Staff Provident Fund

December 11,

2008 2.00 March 11, 2014

62. Hirabai Vithaldas Shubh Trust

December 11,

2008 2.00 March 11, 2014

63.

The Metal Rolling Works Limited

Employees Educational Welfare Trust

December 11,

2008 1.00 March 11, 2014

64. Sarvodaya Welfare Trust

December 11,

2008 1.00 March 11, 2014

65.

Hakamchand Vakhatram Philanthropic

Trust

December 11,

2008 1.00 March 11, 2014

66. Bangiya Gramin Vikash Bank

December 15,

2008 300.00 March 15, 2014

67. Life Insurance Corporation of India

December 23,

2008 100.00 March 23, 2014


61

Sr.

No.

Particulars Date of

disbursement

Amount

outstanding as

on March 31,

2012

Maturity Date

68.

Karnataka Power Corporation Limited

Employee Contributory Provident Fund

Trust

December 23,

2008 100.00 March 23, 2014

69.

Maihar Cement Employees Provident

Fund

December 29,

2008 30.00

December 29,

2018

70.

Century Textiles And Industries Limited

(Cement Divisions) Superannuation Fund

December 29,

2008 7.00

December 29,

2018

71.

Manikgarh Cement Employees

Superannuation Welfare Trust

December 29,

2008 4.00

December 29,

2018

72. LIC of India Gratuity Plus Income Fund

January 17,

2009 200.00 April 17, 2014

73. LIC of India Gratuity Plus Bond Fund

January 17,

2009 150.00 April 17, 2014

74. LIC of India Gratuity Plus Growth Fund

January 17,

2009 100.00 April 17, 2014

75. LIC of India Gratuity Plus Non Unit Fund

January 17,

2009 50.00 April 17, 2014

76. Bank of India April 2, 2009 2,000.00 July 2, 2014

77. Air- India Employees Provident Fund April 2, 2009 500.00 July 2, 2014

78. Hero Motocorp Limited April 18, 2009 1,300.00 July 18, 2014

79.


Limited Provident Institution April 18, 2009 500.00 July 18, 2014

80. Durgapur Steel Plant Provident Fund April 18, 2009 200.00 July 18, 2014

81. RKM Provident Fund April 18, 2009 179.00 July 18, 2014

82.

Rameshwara Jute Mills Workers Provident

Fund Trust April 18, 2009 100.00 July 18, 2014

83. Radha Govind Samiti April 18, 2009 100.00 July 18, 2014

84. Megna Jute Mills Provident Fund April 18, 2009 27.00 July 18, 2014


62

Sr.

No.

Particulars Date of

disbursement

Amount

outstanding as

on March 31,

2012

Maturity Date

85.

L And T (Kansbahal) Staff And Workmen

Provident Fund April 18, 2009 15.00 July 18, 2014

86.


Trust April 18, 2009 10.00 July 18, 2014

87. Snehal Baid April 18, 2009 10.00 July 18, 2014

88. Bijay Singh Baid April 18, 2009 10.00 July 18, 2014

89. Sanjay Kumar Baid April 18, 2009 10.00 July 18, 2014

90.

Wander Limited Employees Provident

Fund April 18, 2009 7.00 July 18, 2014

91. Ramprakash Podar Charitable Trust April 18, 2009 7.00 July 18, 2014

92.

Orient Ceramics Provident Fund

Institution April 18, 2009 7.00 July 18, 2014

93.

Burns Philp India Private Limited

Employees Provident Fund April 18, 2009 6.00 July 18, 2014

94.

L And T (Kansbahal) Officers And

Supervisory Staff Provident Fund April 18, 2009 6.00 July 18, 2014

95. Gaurav Lochan April 18, 2009 4.00 July 18, 2014

96.

Mehta And Padamsey Private Limited

Employees Provident Fund April 18, 2009 1.00 July 18, 2014

97. Manoj G S April 18, 2009 1.00 July 18, 2014

98. Jai Corp Limited July 15, 2009 1,000.00 October 10, 2014

99.


Limited A/C Kotak Credit Opportunities

Fund

July 15, 2009 600.00 October 10, 2014

100.


Gratuity and Pension Fund Trust July 15, 2009 440.00 October 10, 2014

101.


Limited A/C Kotak Monthly Income Plan July 15, 2009 200.00 October 10, 2014


63

Sr.

No.

Particulars Date of

disbursement

Amount

outstanding as

on March 31,

2012

Maturity Date

102.

ABN AMRO Bank N V Employees'

Provident Fund July 15, 2009 150.00 October 10, 2014

103. Balkash Exim Private Limited July 15, 2009 140.00 October 10, 2014

104.


Limited A/C Kotakfloater Long Term

Scheme

July 15, 2009 100.00 October 10, 2014

105. Aradhana Investments Limited July 15, 2009 100.00 October 10, 2014

106.


Limited A/C. Kotak Mahindra Bond Short

Term Plan

July 15, 2009 50.00 October 10, 2014

107.

Mysore Sugandhi Dhoop Factory Private

Limited July 15, 2009 50.00 October 10, 2014

108. Cheviot Agro Industries Limited July 15, 2009 30.00 October 10, 2014

109. Pravin Shripad Bhalerao July 15, 2009 30.00 October 10, 2014

110.

R S R Mohota Spg And Wvg Mills Limited


Hinganghat

July 15, 2009 20.00 October 10, 2014

111. Sunderdevi Baid July 15, 2009 20.00 October 10, 2014

112. Bela Anil Dalal July 15, 2009 15.00 October 10, 2014

113. Meenakshi Baid July 15, 2009 15.00 October 10, 2014

114.

Aditya Share Dealings And Trading

Private Limited July 15, 2009 15.00 October 10, 2014

115.

Cheviot Company Limited Employees

Gratuity Trust Fund July 15, 2009 10.00 October 10, 2014

116. Amrish A Dalal July 15, 2009 10.00 October 10, 2014

117. Bijay Singh Baid July 15, 2009 10.00 October 10, 2014

118. Ganpati Share Cap Private Limited July 15, 2009 10.00 October 10, 2014


64

Sr.

No.

Particulars Date of

disbursement

Amount

outstanding as

on March 31,

2012

Maturity Date

119.

Bajaj Allianz Life Insurance Company

Limited

October 27,

2009 3,500.00 January 27, 2015

120.

National Pension Scheme Trust- A/C LIC

Pension Fund Scheme - Central

Government

October 27,

2009 1,310.00 January 27, 2015

121.

Trustees Hindustan Steel Limited

Contributory Provident Fund, Rourkela

October 27,

2009 1,000.00 January 27, 2015

122. Food Corporation of India CPF Trust

October 27,

2009 1,000.00 January 27, 2015

123. Air- India Employees Provident Fund

October 27,

2009 600.00 January 27, 2015

124. Anshuman Magazine

October 27,

2009 500.00 January 27, 2015

125. Allahabad Bank

October 27,

2009 500.00 January 27, 2015

126.

United India Insurance Company Limited

Employees Gratuity Fund

October 27,

2009 500.00 January 27, 2015

127.

National Pension Scheme Trust- A/C SBI

Pension Fund Scheme - State Government

October 27,

2009 497.00 January 27, 2015

128.



October 27,

2009 200.00 January 27, 2015

129.



October 27,

2009 160.00 January 27, 2015

130.

Bharat Fritz Werner Private Limited

Provident Fund

October 27,

2009 55.00 January 27, 2015

131. Sushilkumar N Trivedi

October 27,

2009 50.00 January 27, 2015

132.

Ashok Leyland Employees Hosur

Provident Fund Trust

October 27,

2009 30.00 January 27, 2015


65

Sr.

No.

Particulars Date of

disbursement

Amount

outstanding as

on March 31,

2012

Maturity Date

133.

Centre For Development of Telematics


October 27,

2009 30.00 January 27, 2015

134. Uma Narayana Moorthy

October 27,

2009 20.00 January 27, 2015

135. P Anusha

October 27,

2009 15.00 January 27, 2015

136.

The Municipal Co-Operation Bank

Employee Provident Fund

October 27,

2009 10.00 January 27, 2015

137. Raghavendra K V

October 27,

2009 5.00 January 27, 2015

138. Kala Gopalakrishnan

October 27,

2009 5.00 January 27, 2015

139.

Humphreys And Glasgow Directors

Superannuation Fund

October 27,

2009 3.00 January 27, 2015

140.


Pension Fund Scheme C - Tier I

October 27,

2009 3.00 January 27, 2015

141.


Institution

October 27,

2009 3.00 January 27, 2015

142.

R A Nariman And Company Limited


October 27,

2009 2.00 January 27, 2015

143. Abdullah Hakimuddin Poonawala

October 27,

2009 2.00 January 27, 2015

144. United India Insurance Company Limited

October 31,

2009 2,000.00 October 31, 2019

145. Bank of India Provident Fund

November 24,

2009 500.00

November 22,

2019

146. Anil Vipin Dalal HUF July 15, 2009 10.00 October 10, 2014

147. Nikhil Anil Dalal July 15, 2009 15.00 October 10, 2014

148. Jagdish Rani Basur July 15, 2009 20.00 October 10, 2014


66

Sr.

No.

Particulars Date of

disbursement

Amount

outstanding as

on March 31,

2012

Maturity Date

149. Desai Amit Sumanlal HUF July 15, 2009 20.00 October 10, 2014

150. Bank of Maharashtra TIBD July 15, 2009 1,920.00 October 10, 2014


October 31,

2009 400.00 October 31, 2019

152.

The Kalyan Janata Sahakari Bank

Limited

November 24,

2009 500.00

November 22,

2019

153.

The Zoroastrian Co-Operative Bank

Limited

November 24,

2009 500.00

November 22,

2019

154.

The Jammu And Kashmir Bank Employee

Pension Fund Trust

November 24,

2009 400.00

November 22,

2019

155.

Engineers India Limited Employees

Provident Fund

November 24,

2009 300.00

November 22,

2019

156.

The Jammu And Kashmir Bank


November 24,

2009 200.00

November 22,

2019

157.

NIIT Limited Employees Provident Fund

Trust

November 24,

2009 50.00

November 22,

2019

158.

Pune Zilla Madhyawarti Sahakari Bank

Maryadit Provident Fund

November 24,

2009 25.00

November 22,

2019

159. GHCL Officers Provident Fund Trust

November 24,

2009 20.00

November 22,

2019

160.

Bharatiya Vidya Bhavan Staff

Contributory Provident Fund

November 24,

2009 20.00

November 22,

2019

161.

Industrial Jewels Private Limited

Provident Fund

November 24,

2009 13.00

November 22,

2019

162. Hooghly Docking Works Provident Fund

November 24,

2009 10.00

November 22,

2019

163.

The National Peroxide Limited Employees

Gratuity Fund

November 24,

2009 10.00

November 22,

2019

164.

Intervet India Private Limited Employees


November 24,

2009 10.00

November 22,

2019


67

Sr.

No.

Particulars Date of

disbursement

Amount

outstanding as

on March 31,

2012

Maturity Date

165.

A V George Group Employees Provident

Fund ( Trustees )

November 24,

2009 10.00

November 22,

2019

166. The Board of Trustees IPIRTIE CPF

November 24,

2009 9.00

November 22,

2019

167. Spintex Private Limited

November 24,

2009 5.00

November 22,

2019

168. STCI Finance Limited

December 31,

2009 3,920.00 June 30, 2015

169. ACG Associated Capsules Private Limited

December 31,

2009 100.00 June 30, 2015

170. Allbank Finance Limited

December 31,

2009 100.00 June 30, 2015

171. Keki Minoo Mistry

December 31,

2009 30.00 June 30, 2015

172. Samar Sharad Chauhan

December 31,

2009 30.00 June 30, 2015

173.

Mathrubhumi Employees Superannuation

Fund

December 31,

2009 10.00 June 30, 2015

174. Virendra Ratilal Sangharajka

December 31,

2009 5.00 June 30, 2015

175. Ritu Modani

December 31,

2009 3.00 June 30, 2015

176. Usha Modani

December 31,

2009 2.00 June 30, 2015

177. Anu Khattar

December 31,

2009 1.00 June 30, 2015

178.

Swan Silk Limited Employees Provident

Fund Trust

November 24,

2009 5.00

November 22,

2019

179.

Empire Industries Limited Garlick

Engineering Staff Provident Fund

November 24,

2009 5.00

November 22,

2019


68

Sr.

No.

Particulars Date of

disbursement

Amount

outstanding as

on March 31,

2012

Maturity Date

180. Aditya Vikram Saria

November 24,

2009 4.00

November 22,

2019

181.

Premier Auto Electric Limited Employees

Provident Fund

November 24,

2009 3.00

November 22,

2019

182.

Trustees The Provident Fund of The Board

of Management of The Bombay Properties

of The Indian Institute of Science

November 24,

2009 1.00

November 22,

2019

183. Nokia India Employees Provident Fund

December 31,

2009 110.00

December 31,

2019

184.

Youth Development co operative Bank

Limited Kolhapur

December 31,

2009 100.00

December 31,

2019

185.

Trustees Hind Lamps Employees

Provident Fund ( Exempted Employees )

December 31,

2009 100.00

December 31,

2019

186. Pawan Agarwal

December 31,

2009 40.00

December 31,

2019

187. Pankaj Agarwal

December 31,

2009 40.00

December 31,

2019

188.

Central Board of Irrigation And Power


December 31,

2009 20.00

December 31,

2019

189.

Shriram Life Insurance Company Limited

A/C-Ulif00301/07/06Maximusfnd128-

Maximus -Fund

January 6,

2010 230.00 July 6, 2015

190.


A/C-Ulif01507/01/10Prservrfnd128-

Prserver -Fund

January 6,

2010 70.00 July 6, 2015

191. Army Group Insurance Fund

January 18,

2010 1,500.00 April 18, 2015

192.

Trustees Union Bank of India Employees

Provident Fund

January 18,

2010 1,000.00 April 18, 2015

193. Tamilnad Mercantile Bank Limited

January 18,

2010 1,000.00 April 18, 2015


69

Sr.

No.

Particulars Date of

disbursement

Amount

outstanding as

on March 31,

2012

Maturity Date

194.

National Pension Scheme Trust- A/CSBI


Government

January 18,

2010 500.00 April 18, 2015

195.



Government

January 18,

2010 500.00 April 18, 2015


January 18,

2010 200.00 April 18, 2015

197.



January 18,

2010 70.00 April 18, 2015

198.

The Lakshmi Vilas Bank Limited


January 18,

2010 50.00 April 18, 2015

199. Sheela Ashwin Chiniwalla

January 18,

2010 32.00 April 18, 2015

200. Asha Sharad Chauhan

January 18,

2010 31.00 April 18, 2015

201. Sheela Chiniwalla

January 18,

2010 27.00 April 18, 2015

202. Sharad Pitamber Chauhan

January 18,

2010 25.00 April 18, 2015

203.

National Pension Scheme Trust- A/C

ICICI Prudential Pension Fund Scheme C

- Tier I

January 18,

2010 21.00 April 18, 2015

204.

National Pension Scheme Trust- A/C

ICICI Prudential Pension Fund Scheme C

- Tier II

January 18,

2010 10.00 April 18, 2015

205. Pranav Bajoria

January 18,

2010 10.00 April 18, 2015

206. Priyanka S Bajoria

January 18,

2010 10.00 April 18, 2015


70

Sr.

No.

Particulars Date of

disbursement

Amount

outstanding as

on March 31,

2012

Maturity Date

207. Kailash Kumar Gupta

January 18,

2010 10.00 April 18, 2015

208.


Provident Fund

January 18,

2010 3.00 April 18, 2015

209.

R A Nariman And Company Limited


January 18,

2010 1.00 April 18, 2015

210. Bank of Maharashtra

January 22,

2010 1,000.00 April 22, 2015

211. Food Corporation of India CPF Trust

January 22,

2010 200.00 April 22, 2015

212.



Government

January 22,

2010 117.00 April 22, 2015

213.



January 22,

2010 90.00 April 22, 2015

214.

Colgate- Palmolive (India) Limited

Provident Fund

January 22,

2010 50.00 April 22, 2015

215.

Ashok Leyland Employees Hosur


January 22,

2010 24.00 April 22, 2015

216.

Manilal Kasturchand Gandhi And Kanta

Gandhi Charitable Trust

January 22,

2010 10.00 April 22, 2015

217.

Deys Medical Stores Manufacturing (Up)

Limited Provident Fund

January 22,

2010 5.00 April 22, 2015

218.

The Municipal Co-Op Bank Employee

Provident Fund

January 22,

2010 4.00 April 22, 2015


January 29,

2010 700.00 January 29, 2020

220. Shree Vardhaman Sahakari Bank Limited

January 29,

2010 145.00 January 29, 2020


71

Sr.

No.

Particulars Date of

disbursement

Amount

outstanding as

on March 31,

2012

Maturity Date

221.

Loknete Dattaji Patil Sahkari Bank

Limited,Lasalgaon

January 29,

2010 50.00 January 29, 2020

222. Leena Jeewan

January 29,

2010 3.00 January 29, 2020

223.

Petro Araldite Private Limited Employees

Provident Fund

January 29,

2010 2.00 January 29, 2020

224. Preeti Agarwal

December 31,

2009 20.00

December 31,

2019

225. East Commercial Private Limited

December 31,

2009 10.00

December 31,

2019

226. Guljit Chaudhri

December 31,

2009 10.00

December 31,

2019

227. S Raja

December 31,

2009 5.00

December 31,

2019

228.


Institution

December 31,

2009 4.00

December 31,

2019

229. Manju Pande

December 31,

2009 10.00

December 31,

2019

230.



January 29,

2010 870.00 July 29, 2015

231. Bank of India Provident Fund

January 29,

2010 500.00 July 29, 2015

232.

The Kalyan Janata Sahakari Bank

Limited

January 29,

2010 250.00 July 29, 2015

233. Model co operative Bank Limited

January 29,

2010 200.00 July 29, 2015

234.

Provident Fund of Mangalore Refinery And

Petrochemicals Limited

January 29,

2010 80.00 July 29, 2015

235. The Jain Sahakari Bank Limited

January 29,

2010 70.00 July 29, 2015


72

Sr.

No.

Particulars Date of

disbursement

Amount

outstanding as

on March 31,

2012

Maturity Date

236. Nandlal Pribhdas Tolani

January 29,

2010 50.00 July 29, 2015

237. Cutler Hammer Provident Fund Trust

January 29,

2010 25.00 July 29, 2015

238. ICB Limited Employees Provident Fund

January 29,

2010 10.00 July 29, 2015

239.

Lotus Beauty Care Products Private

Limited

February 15,

2010 100.00 February 15, 2020

240. United India Insurance Company Limited March 29, 2010 2,000.00

September 29,

2015

241.



Government

March 29, 2010 1,400.00 September 29,

2015

242.



Government

March 29, 2010 1,000.00 September 29,

2015

243.


Pension Fund Scheme - State Government March 29, 2010 400.00

September 29,

2015

244.

National Pension Scheme Trust A/C -SBI

Pension Funds Private Limited -National

Pension Scheme Lite Scheme -

Government Pattern

March 29, 2010 100.00 September 29,

2015

245.

National Pension Scheme Trust A/C - LIC

Pension Fund Limited - National Pension

Scheme Lite Scheme - Government

Pattern

March 29, 2010 100.00 September 29,

2015

246.


Contributory Provident Fund, Rourkela April 19, 2010 1,000.00 April 19, 2020

247.

Future Generali India Life Insurance

Company Limited Shareholders / Non

Unit Linked

April 19, 2010 500.00 April 19, 2020

248. United India Insurance Company Limited April 19, 2010 500.00 April 19, 2020


73

Sr.

No.

Particulars Date of

disbursement

Amount

outstanding as

on March 31,

2012

Maturity Date

249.

Board of Trustees For Bokaro Steel

Employees Provident Fund April 19, 2010 500.00 April 19, 2020

250.

Bajaj Allianz Life Insurance Company

Limited April 19, 2010 1,500.00 April 19, 2016

251.

Bajaj Allianz General Insurance Company

Limited April 19, 2010 1,000.00 April 19, 2016

252.

Infrastructure Development Finance

Company Limited April 19, 2010 1,950.00 April 19, 2020

253.

National Pension Scheme Trust- A/C UTI

Retirement Solutions Pension Fund


April 19, 2010 1,480.00 April 19, 2020

254.



255.

The Oriental Insurance Company Limited

Provident Fund April 19, 2010 350.00 April 19, 2020

256. RKM Provident Fund April 19, 2010 200.00 April 19, 2020

257. HUDCO Employees C P F Trust April 19, 2010 100.00 April 19, 2020

258.

Engineers India Limited Employees


259. The Rami Investments Private Limited April 19, 2010 100.00 April 19, 2020

260.

Power Finance Corporation Limited


261.

The India Cements Employees Provident

Fund April 19, 2010 30.00 April 19, 2020

262.

SKF Bearings India Limited

Superannuation Scheme April 19, 2010 30.00 April 19, 2020

263. M R Rajaram April 19, 2010 30.00 April 19, 2020

264.


Fund April 19, 2010 30.00 April 19, 2020


74

Sr.

No.

Particulars Date of

disbursement

Amount

outstanding as

on March 31,

2012

Maturity Date

265.

SKF Bearings India Limited Provident

Fund Scheme April 19, 2010 20.00 April 19, 2020

266. Garodia Traxim Private Limited April 19, 2010 10.00 April 19, 2020

267. Vrajlal P Babaria Charitable Trust April 19, 2010 10.00 April 19, 2020

268. Hemakshi Mahesh Shah April 19, 2010 10.00 April 19, 2020

269. ICICI Bank Limited April 20, 2010 7,500.00 April 20, 2020

270.




April 20, 2010 6,200.00 April 20, 2020

271.


Company Limited April 20, 2010 2,500.00 April 20, 2020

272.



Government

April 20, 2010 1,000.00 April 20, 2020

273.


Pension Fund Scheme - State Government April 20, 2010 600.00 April 20, 2020

274. Jharkhand Gramin Bank April 20, 2010 500.00 April 20, 2020

275. The Nainital Bank Limited April 20, 2010 500.00 April 20, 2020

276.



Government

April 20, 2010 400.00 April 20, 2020

277.



278.




April 20, 2010 300.00 April 20, 2020

279.


Pension Fund Scheme - State Government April 20, 2010 180.00 April 20, 2020

280.


Pension Fund Scheme C - Tier I April 20, 2010 20.00 April 20, 2020


75

Sr.

No.

Particulars Date of

disbursement

Amount

outstanding as

on March 31,

2012

Maturity Date

281.




April 26, 2010 1,000.00 July 26, 2015

282.


Pension Fund Scheme - State Government April 26, 2010 969.00 July 26, 2015

283.




April 26, 2010 500.00 July 26, 2015

284.


Pension Fund Scheme C - Tier I April 26, 2010 30.00 July 26, 2015

285.


Pension Fund Scheme C - Tier II April 26, 2010 1.00 July 26, 2015

286. Tata Capital Financial Services Limited May 3, 2010 2,500.00 May 3, 2016

287. Prem Subramaniam

January 29,

2010 10.00 July 29, 2015

288.


Provident Fund

January 29,

2010 4.00 July 29, 2015

289. Hema Parameswaran

January 29,

2010 2.00 July 29, 2015

290. Vijaya R K

January 29,

2010 1.00 July 29, 2015

291. T P Viswanathan

January 29,

2010 1.00 July 29, 2015

292.

Sacred Heart Hospital Employees

Provident Fund Trust, Kumbakonam

January 29,

2010 1.00 July 29, 2015

293. Avinash Chandra Sangal

January 29,

2010 2.00 July 29, 2015

294. Bank of India Provident Fund May 3, 2010 2,000.00 May 3, 2020

295. Jharkhand Gramin Bank May 3, 2010 500.00 May 3, 2020


76

Sr.

No.

Particulars Date of

disbursement

Amount

outstanding as

on March 31,

2012

Maturity Date

296.

Indian Oil Corporation Limited (Assam Oil

Division) Employees Provident Fund May 3, 2010 400.00 May 3, 2020

297. Nagpur Nagarik Sahakari Bank Limited May 3, 2010 300.00 May 3, 2020

298.


Employees Provident Fund May 3, 2010 200.00 May 3, 2020

299.

United India Insurance Company

(Employees) Pension Fund May 3, 2010 180.00 May 3, 2020

300. Sulaimani co operative Bank Limited May 3, 2010 100.00 May 3, 2020

301. Arvind Sahakari Bank Limited May 3, 2010 100.00 May 3, 2020

302. Nokia India Employees Provident Fund May 3, 2010 100.00 May 3, 2020

303. Dr. Nandlal P. Tolani May 3, 2010 60.00 May 3, 2020

304.

Madras Fertilizers Limited Employees

Contributory Provident Fund May 3, 2010 50.00 May 3, 2020

305.

Punjab State Warehousing Corporation

Employee Provident Fund May 3, 2010 50.00 May 3, 2020

306.

Jagatjit Cotton Textile Mills Limited

Provident Fund Trust May 3, 2010 50.00 May 3, 2020

307.

NIIT Technologies Limited Employees


308.

Hindustan Electro Graphites Officers

Contributory Provident Fund Trust May 3, 2010 37.00 May 3, 2020

309.

Taurus Asset Management Company

Limited May 3, 2010 35.00 May 3, 2020

310.

Andhra Pradesh State Road Transport

Corporation Employees Deposit Linked

Insurance Fund

May 3, 2010 30.00 May 3, 2020

311.

Delphi Automotive Systems Group

Employees Provident Fund Trust May 3, 2010 30.00 May 3, 2020

312. Preeti Agarwal May 3, 2010 30.00 May 3, 2020


77

Sr.

No.

Particulars Date of

disbursement

Amount

outstanding as

on March 31,

2012

Maturity Date

313. Reena Pawan Agarwal May 3, 2010 30.00 May 3, 2020

314.


Fund May 3, 2010 30.00 May 3, 2020

315. Shikha Sawhney May 3, 2010 30.00 May 3, 2020

316. MMTC Limited CPF Trust May 3, 2010 24.00 May 3, 2020

317. Suman Bansi Dhar May 3, 2010 20.00 May 3, 2020

318. M R Rajaram May 3, 2010 20.00 May 3, 2020

319.

Amar Ujala Publications Limited


320.

Escorts Heart Institute And Research

Centre Employees Provident Fund Trust May 3, 2010 20.00 May 3, 2020

321. Noshir Faramji Tankariwala May 3, 2010 15.00 May 3, 2020

322.

Arya Offshore Services Private Limited


323. Rajesh Bhikhubhai Shah May 3, 2010 12.00 May 3, 2020

324. Munish Daga May 3, 2010 12.00 May 3, 2020

325.

The Champdany Jute Company Limited

Gratuity Fund May 3, 2010 11.00 May 3, 2020

326. Nitya Daga May 3, 2010 11.00 May 3, 2020

327.

RHC Holding Employees Provident Fund

Trust May 3, 2010 10.00 May 3, 2020

328.

Sesa Mining Corporation Limited


329. BPCL Employees Provident Fund Trust May 3, 2010 10.00 May 3, 2020

330.

Ashok Leyland Employees Bhandara



78

Sr.

No.

Particulars Date of

disbursement

Amount

outstanding as

on March 31,

2012

Maturity Date

331.

Paharpur Cooling Towers Officers

Provident Fund May 3, 2010 10.00 May 3, 2020

332.



333.



334.

Superhouse Leathers Limited Employees


335.

Ion Exchange (India) Limited'S Provident

Institution May 3, 2010 10.00 May 3, 2020

336.

Lubrizol India Limited Employees


337.

Lawrence And Mayo (I) Private Limited

Staff Provident Fund May 3, 2010 10.00 May 3, 2020

338. Krishna Murari Poddar May 3, 2010 10.00 May 3, 2020

339.

The Ashok Hotel Employees Provident

Fund Trust May 3, 2010 10.00 May 3, 2020

340. Raghuram Iyer May 3, 2010 10.00 May 3, 2020

341. ECL Finance Limited May 3, 2010 10.00 May 3, 2020

342. Neelam Jolly May 3, 2010 8.00 May 3, 2020

343. Sangeeta Pareekh May 3, 2010 8.00 May 3, 2020

344. Bijni Dooars Employees Gratuity Fund May 3, 2010 7.00 May 3, 2020

345. Prithvi Raj Khanna May 3, 2010 5.00 May 3, 2020

346. GPIN Staff Provident Fund May 3, 2010 5.00 May 3, 2020

347.

Eastern Dooars Employees Gratuity

Fund May 3, 2010 5.00 May 3, 2020

348. Turner Morrison Officers Provident Fund May 3, 2010 5.00 May 3, 2020


79

Sr.

No.

Particulars Date of

disbursement

Amount

outstanding as

on March 31,

2012

Maturity Date

349.


Gandhi Charitable Trust May 3, 2010 5.00 May 3, 2020

350.

Kali Kripa Agro Investments Private

Limited May 3, 2010 5.00 May 3, 2020

351. Shanti Prakash Goyal May 3, 2010 5.00 May 3, 2020

352.



353. Lily Commercial Private Limited May 3, 2010 3.00 May 3, 2020

354.

Vin Vish Corporation Private Limited


355. Satya Narain Daga May 3, 2010 3.00 May 3, 2020

356. Munish Daga May 3, 2010 3.00 May 3, 2020

357.

The Ganges Manufacturing Company

Limited Employees Provident Fund

(Compulsory) Scheme

May 3, 2010 2.00 May 3, 2020

358. Gentech Chemicals Private Limited May 3, 2010 2.00 May 3, 2020

359. Ratan Griha Nirman Private Limited May 3, 2010 2.00 May 3, 2020

360. Super Wares Private Limited May 3, 2010 1.00 May 3, 2020

361.


A/C-Ulif00301/07/06Maximusfnd128-

Maximus -Fund

May 3, 2010 650.00 May 3, 2016

362. United Bank of India May 3, 2010 500.00 May 3, 2016

363. The J And K Bank Limited May 3, 2010 500.00 May 3, 2016

364.


A/C-Ulif01707/01/10Balancrfnd128-

Balancer -Fund

May 3, 2010 200.00 May 3, 2016

365.




80

Sr.

No.

Particulars Date of

disbursement

Amount

outstanding as

on March 31,

2012

Maturity Date

366.

Wallace Flour Mills Company Private

Limited May 3, 2010 200.00 May 3, 2016

367.



Prserver -Fund

May 3, 2010 100.00 May 3, 2016

368.

The Lakshmi Vilas Bank Limited

Employees Gratuity Fund May 3, 2010 100.00 May 3, 2016

369.


A/C-Ulif01607/01/10Defendrfnd128-

Defender -Fund

May 3, 2010 30.00 May 3, 2016

370.


A/C-Ulif01109/06/09Guardnplus128-

Guardiann Plus -Fund

May 3, 2010 10.00 May 3, 2016

371.


A/C-Ulif01009/06/09Guardnshld128-

Guardian Shield -Fund

May 3, 2010 10.00 May 3, 2016

372. Divine Investments Private Limited May 3, 2010 1.00 May 3, 2020

373. Quick Lithographers Private Limited May 3, 2010 1.00 May 3, 2020

374.

Mcleod And Company Limited'S Provident

Fund ''A'' May 3, 2010 1.00 May 3, 2020

375.


Superannuation Fund May 3, 2010 1.00 May 3, 2020

376. Peekay Alkalies Private Limited May 3, 2010 1.00 May 3, 2020

377. Satya Narain Daga May 3, 2010 1.00 May 3, 2020

378. Jaipur Finance Provident Fund Institution May 3, 2010 1.00 May 3, 2020

379. Moxaben Dilipkumar Trivedi May 3, 2010 2.00 May 3, 2020

380. Army Group Insurance Fund May 10, 2010 500.00 May 10, 2020

381.




81

Sr.

No.

Particulars Date of

disbursement

Amount

outstanding as

on March 31,

2012

Maturity Date

382.




May 10, 2010 500.00 May 10, 2020

383.




May 10, 2010 500.00 May 10, 2020

384.

The Mogaveera Company - Operative

Bank Limited May 10, 2010 200.00 May 10, 2020

385. Ranjan Kishor Shroff May 10, 2010 33.00 May 10, 2020

386. Sherry Dhanju Batliwala May 10, 2010 30.00 May 10, 2020

387. Sukeshi Sharad Sheth May 10, 2010 25.00 May 10, 2020

388.

Goa Carbon Limited Employees Provident


389. K Jagannatha Rao May 10, 2010 15.00 May 10, 2020

390.



391. St Pauls School May 10, 2010 15.00 May 10, 2020

392.

ILTI Excluded Employees Provident Fund

Trust May 10, 2010 10.00 May 10, 2020

393. Dharmesh V Adnani May 10, 2010 10.00 May 10, 2020

394.

Arya Offshore Services Private Limited


395. AFCO Fincon Private Limited May 10, 2010 8.00 May 10, 2020

396.


Institution May 10, 2010 6.00 May 10, 2020

397. Dipika Dilip Modi May 10, 2010 5.00 May 10, 2020

398.


Gandhi Charitable Trust May 10, 2010 5.00 May 10, 2020


82

Sr.

No.

Particulars Date of

disbursement

Amount

outstanding as

on March 31,

2012

Maturity Date

399.

Ashok Leyland Employees Alwar Provident

Fund May 10, 2010 5.00 May 10, 2020

400.

Deys Medical Stores Manufacturing(Up)

Limited Provident Fund May 10, 2010 5.00 May 10, 2020

401. Vithaldas Hakamchand Charitable Trust May 10, 2010 4.00 May 10, 2020

402.

Gill And Company Private Limited


403.

Maharaja Shree Umaid Mills Limited

Senior Staff Provident Fund May 10, 2010 3.00 May 10, 2020

404.

Tribhuvandas Foundation Staff Provident


405.

Humphreys And Glasgow Directors

Superannuation Fund May 10, 2010 3.00 May 10, 2020

406.


Employees Educational Welfare Trust May 10, 2010 3.00 May 10, 2020

407. Vrajlal P Babaria Charitable Trust May 10, 2010 3.00 May 10, 2020

408. Leena Jeewan May 10, 2010 3.00 May 10, 2020

409.

Shri Zalawad Jain Swetamber Murtipujak

Mandalsion-Matunga-Dadar-Wadala May 10, 2010 3.00 May 10, 2020

410.

Sri Sathya Sai Institute of Higher Medical

Sciences Pg Employees Gratuity Fund

Trust

May 10, 2010 2.00 May 10, 2020

411.


Employees Medical Welfare Trust May 10, 2010 2.00 May 10, 2020

412.

D S Savant And Sons Employees


413. Narayan Purushottam Gokhale May 10, 2010 2.00 May 10, 2020

414.

Jain Jagruti Centre Central Board

Charitable Trust May 10, 2010 2.00 May 10, 2020


83

Sr.

No.

Particulars Date of

disbursement

Amount

outstanding as

on March 31,

2012

Maturity Date

415. Kirti Karmarkar Anand May 10, 2010 2.00 May 10, 2020

416. Puttur Narayanarao Girish Rao May 10, 2010 2.00 May 10, 2020

417. Narendra R Patil May 10, 2010 1.00 May 10, 2020

418. Dipika Jitendrabhai Patel May 10, 2010 1.00 May 10, 2020

419. Ajay Bangur May 10, 2010 1.00 May 10, 2020

420.

Union Bank of India (Employees') Pension

Fund May 28, 2010 1,000.00 May 28, 2016

421.

HDFC ERGO General Insurance

Company Limited May 28, 2010 1,000.00 May 28, 2016

422. The Lakshmi Vilas Bank Limited May 28, 2010 500.00 May 28, 2016

423. Bank of India (Employees) Pension Fund May 28, 2010 1,500.00 May 28, 2020

424. United India Insurance Company Limited May 28, 2010 1,000.00 May 28, 2020

425. The Nainital Bank Limited May 28, 2010 500.00 May 28, 2020

426. Dombivli Nagari Sahakari Bank Limited May 28, 2010 500.00 May 28, 2020

427. Intrasoft Technologies Limited May 28, 2010 500.00 May 28, 2020

428.

A P S R T C Employees Provident Fund

Trust May 28, 2010 400.00 May 28, 2020

429.

The Jalgaon Peoples Co operative Bank

Limited May 28, 2010 300.00 May 28, 2020

430.


A/C-Ulif00201/07/06Guardanfnd128-

Guardian -Fund

May 28, 2010 60.00 May 28, 2020

431.


A/C-Ulif01707/01/10Balancrfnd128-

Balancer -Fund

May 28, 2010 40.00 May 28, 2020

432.

Jacobs H And G Limited Employees



84

Sr.

No.

Particulars Date of

disbursement

Amount

outstanding as

on March 31,

2012

Maturity Date

433.



Prserver -Fund

May 28, 2010 30.00 May 28, 2020

434.

Mangalore Refinery And Petrochemicals

Limited Gratuity Fund May 28, 2010 30.00 May 28, 2020

435.

Centre For Development of Telematics


436.


A/C-Ulif00101/07/06Consrvator128-

Conservator -Fund

May 28, 2010 20.00 May 28, 2020

437.



438.

Wander Limited Employees Provident

Fund May 28, 2010 10.00 May 28, 2020

439. Renu Jain May 28, 2010 10.00 May 28, 2020

440. Hirojirao Ramrao Patankar May 28, 2010 10.00 May 28, 2020

441. ISSAL Superannuation Fund May 28, 2010 10.00 May 28, 2020

442. United India Insurance Company Limited June 4, 2010 1,000.00 June 4, 2020

443.


Company Limited June 4, 2010 1,000.00 June 4, 2020

444.


Employees Provident Fund June 4, 2010 500.00 June 4, 2020

445. Syndicate Bank June 14, 2010 2,000.00

September 14,

2015

446.



Government

June 14, 2010 1,000.00 September 14,

2015

447.

Nuclear Power Corporation of India

Limited Employees Provident Fund June 14, 2010 500.00

September 14,

2015


85

Sr.

No.

Particulars Date of

disbursement

Amount

outstanding as

on March 31,

2012

Maturity Date

448. Army Group Insurance Fund June 14, 2010 500.00

September 14,

2015

449.


Employees Provident Fund June 14, 2010 500.00

September 14,

2015

450.

Indian Overseas Bank Staff Provident

Fund June 14, 2010 500.00

September 14,

2015

451. UTI - Childrens Career Balanced Plan

August 24,

2010 10,500.00 August 24, 2015

452. UTI-Unit Linked Insurance Plan

August 24,

2010 8,500.00 August 24, 2015

453. UTI- Balanced Fund

August 24,

2010 6,000.00 August 24, 2015

454. UTI - Retirement Benefit Pension Fund

August 24,

2010 5,000.00 August 24, 2015

455. UTI-MIS-Advantage Plan

August 24,

2010 2,500.00 August 24, 2015

456. UTI-Mahila Unit Scheme

August 24,

2010 2,000.00 August 24, 2015

457.

UTI-Unit Scheme For Charitable And

Religious Trusts And Registered Societies

August 24,

2010 500.00 August 24, 2015

458.


(CSEB) Provident Fund Trust

August 30,

2010 1,800.00 August 30, 2025

459.


ContributoryProvident Fund, Rourkela

August 30,

2010 600.00 August 30, 2025

460.

The Barnagore Jute Factory Company

Limited Employees Provident Fund

August 30,

2010 70.00 August 30, 2025

461.


Provident Fund

August 30,

2010 50.00 August 30, 2025


86

Sr.

No.

Particulars Date of

disbursement

Amount

outstanding as

on March 31,

2012

Maturity Date

462.

SAIL RMD Establishment And

Administrative Offices Employees

Provident Fund

August 30,

2010 50.00 August 30, 2025

463.

The Thane District Central co operative

Bank Staff Provident Fund

August 30,

2010 50.00 August 30, 2025

464.

Jagatjit Cotton Textile Mills Limited


August 30,

2010 50.00 August 30, 2025

465.

The Tribune Employee's Provident Fund

Trust

August 30,

2010 40.00 August 30, 2025

466.

The Ashok Hotel Employees Provident

Fund Trust

August 30,

2010 40.00 August 30, 2025

467.

Genius Consultants Employees Provident

Fund

August 30,

2010 30.00 August 30, 2025

468. Ujjwal Suri

August 30,

2010 20.00 August 30, 2025

469. Madhukar P Choksi

August 30,

2010 20.00 August 30, 2025

470.


Gratuity Fund

August 30,

2010 20.00 August 30, 2025

471. Pawan Kumar Roongta

August 30,

2010 20.00 August 30, 2025

472.

Sona Koyo Steering Systems Limited


August 30,

2010 10.00 August 30, 2025

473. Mahabir Prasad Roongta

August 30,

2010 10.00 August 30, 2025

474.

The Assam Company India Limited

Management Staff Provident Fund

August 30,

2010 10.00 August 30, 2025

475.

Mount Shivalik Breweries Limited


August 30,

2010 10.00 August 30, 2025


87

Sr.

No.

Particulars Date of

disbursement

Amount

outstanding as

on March 31,

2012

Maturity Date

476. Henry Arthur Sydney Ledlie

August 30,

2010 10.00 August 30, 2025

477.

Holcim Services South Asia Employees

Provident Fund

August 30,

2010 10.00 August 30, 2025

478.

Hooghly District Central Co-Operative

Bank Limited

September 9,

2010 1,000.00 September 9, 2025

479.

A P S R T C Employees Provident Fund

Trust

September 9,

2010 500.00 September 9, 2025

480.




September 9,

2010 450.00 September 9, 2025

481.

Indian Mercantile co operativeerative

Bank Limited

September 9,

2010 200.00 September 9, 2025

482. Rajma Projects Private Limited

September 9,

2010 100.00 September 9, 2025

483. Ultratech CemCompany Provident Fund

September 9,

2010 100.00 September 9, 2025

484.

NIIT Technologies Limited Employees


September 9,

2010 80.00 September 9, 2025

485.



September 9,

2010 60.00 September 9, 2025

486. Shilpa Taneja

September 9,

2010 10.00 September 9, 2025

487.

Nederlandse Financierings-Maatschappij

Voor Ontwikkelingslanden N.V. (Fmo)

September 13,

2010 22,500.00

September 13,

2017

488. Indian Overseas Bank

September 13,

2010 2,300.00

September 13,

2017

489.

Deutsche Bank International Asia - Debt

Fund

September 13,

2010 200.00

September 13,

2017


88

Sr.

No.

Particulars Date of

disbursement

Amount

outstanding as

on March 31,

2012

Maturity Date

490.


Gratuityand Pension Fund Trust

October 15,

2010 2,000.00 October 15, 2028

491.



October 15,

2010 300.00 October 15, 2028

492.




March 31, 2011 1,550.00 March 31, 2021

493.




March 31, 2011 500.00 March 31, 2021

494.

Crompton Greaves Limited Provident

Fund No 1 March 31, 2011 340.00 March 31, 2021

495.

Power Finance Corporation Limited

Employees Provident Fund March 31, 2011 50.00 March 31, 2021

496.


Employees Provident Fund Trust March 31, 2011 50.00 March 31, 2021

497. Dhyanesh Marketing Private Limited March 31, 2011 10.00 March 31, 2021

498.



January 2,

2012 1,890.00 June 29, 2018

499.



Government

January 2,

2012 1,000.00 June 29, 2018

500. Brics Gilt Finance Private Limited

January 2,

2012 700.00 June 29, 2018

501. Dotch Sales Private Limited

January 2,

2012 620.00 June 29, 2018

502.


Limited Provident Institution

January 2,

2012 300.00 June 29, 2018

503.


Pension Fund Scheme C - Tier I

January 2,

2012 280.00 June 29, 2018


89

Sr.

No.

Particulars Date of

disbursement

Amount

outstanding as

on March 31,

2012

Maturity Date

504.

National Pension Scheme Trust A/C -SBI

Pension Funds Private Limited -National

Pension Scheme Lite Scheme -

Government Pattern

January 2,

2012 70.00 June 29, 2018

505. Sourabh Gilts And Securities Limited

January 2,

2012 50.00 June 29, 2018

506. Berger Paints Provident Fund (Covered)

January 2,

2012 30.00 June 29, 2018

507.

ITD Cementation India Limited Workmen

Provident Fund

January 2,

2012 20.00 June 29, 2018

508.


Pension Fund Scheme C - Tier II

January 2,

2012 20.00 June 29, 2018

509.



January 2,

2012 20.00 June 29, 2018

510.

National Refinery P. Limited, Employees


511.

Vin Vish Corporation Private Limited


512.

National Refinery Private Limited,

Employees (Workmen At 87,Tardeo Road)

Provident Fund

May 10, 2010 1.00 May 10, 2020

513.


Trust May 10, 2010 1.00 May 10, 2020

514. Mangubai Gokaldas Charitable Trust May 10, 2010 1.00 May 10, 2020

515. Hirabai Vithaldas Shubh Trust May 10, 2010 1.00 May 10, 2020

516.

Wealth First Portfolio Managers Private

Limited May 10, 2010 1.00 May 10, 2020

517. Ashwini Abhijit Khade May 10, 2010 1.00 May 10, 2020

518. Rajesh Prabhakar Pathare May 10, 2010 4.00 May 10, 2020

519. Rajesh Prabhakar Pathare May 10, 2010 3.00 May 10, 2020


90

Sr.

No.

Particulars Date of

disbursement

Amount

outstanding as

on March 31,

2012

Maturity Date

520. Amita Ambarbhai Patel May 10, 2010 5.00 May 10, 2020

521. Hemal Ambar Patel May 10, 2010 5.00 May 10, 2020

522. Pramod Vamanrao Bhavsar May 10, 2010 2.00 May 10, 2020

523.

National Refinery Private Limited

Employees(Workmen) Provident Fund May 10, 2010 3.00 May 10, 2020

524.

National Refinery Private Limited

Employees (Staff) Provident Fund May 10, 2010 4.00 May 10, 2020

525. Moxaben Dilipkumar Trivedi May 10, 2010 5.00 May 10, 2020

526. Akshay Kumar Bhatia

October 15,

2010 200.00 October 15, 2028

Total 2,15,317.00

2. Term Loans from Banks:

(` in lacs)

Sr.

No.

Particulars Date of Disbursement Amount outstanding


Maturity Date

1. Hongkong And Shanghai

Banking Corporation

Limited (FD Sold)

October 29, 2009 11,174.03 July 26, 2010 to

Jun 26, 2012

2. Syndicate Bank June 2, 2010 10,000.00 June 2, 2017

Total 21,174.03

3. Term Loans from Institutions:

(` in lacs)



Maturity Date

Credit Suisse A.G March 29, 2012 10,000.00 March 29, 2013


91



Maturity Date

Total 10,000.00

4. Fixed Deposits:

(` in lacs)

Particulars Amount outstanding as on March 31,

2012

Maturity Date

Fixed deposits 1,20,376.88 April 2012 – March 2017

1,20,376.88

5. Our Company has issued unsecured redeemable non convertible debenture of face value of ` 10,00,000 each on a private

placement basis of which ` 52,860.00 lacs (gross of unamortised discount of ` 2,261.72 lacs) is outstanding as on March 31,

2012, the details of which are set forth below:

(` in lacs)

Sr.

No.

Particulars Date of

disbursement

Amount

outstanding as

on March 31,

2012

Maturity

Date

1.

Birla Sun Life Trustee Company Private Limited

A/C Birla Sun Life Dynamic Bond Fund August 1, 2011 22,500.00

August 1,

2014

2.


A/C Birla Sun Life Short Term Fund August 1, 2011 2,500.00

August 1,

2014

3.


A/C Birla Sun Life Fixed Term Plan - Series DP

August 11,

2011 2,500.00

August 11,

2013

4. HSBC Income Fund - Short Term Plan

August 11,

2011 2,000.00

August 11,

2013

5. HSBC MIP Savings Plan

August 11,

2011 1,800.00

August 11,

2013

6. HSBC MIP Regular Plan

August 11,

2011 700.00

August 11,

2013

7. HSBC Flexi Debt Fund

August 11,

2011 300.00

August 11,

2013

8. HSBC Income Fund - Investment Plan

August 11,

2011 200.00

August 11,

2013


92

Sr.

No.

Particulars Date of

disbursement

Amount

outstanding as

on March 31,

2012

Maturity

Date

9.

Religare Trustee Company Limited - A/C

Religare Medium Term Bond Fund

December 12,

2011 500.00

June 11,

2013

10.


A/C Birla Sun Life Fixed Term Plan - Series DU

December 15,

2011 1,280.00

June 11,

2013

11.


A/C Birla Sun Life Fixed Term Plan - Series DV

December 15,

2011 1,220.00

June 11,

2013

12.


A/C Birla Sun Life Fixed Term Plan - Series DW

December 20,

2011 1,450.00

December

23, 2013

13.


A/C Birla Sun Life Fixed Term Plan - Series DU

December 20,

2011 3,000.00

June 17,

2013

14.


A/C Birla Sun Life Fixed Term Plan - Series ED

January 12,

2012 2,550.00

July 10,

2014

15.


A/C Birla Sun Life Fixed Term Plan - Series ED

January 18,

2012 1,910.00

July 10,

2014

16. DSP Blackrock FTP Series 5- 18M

January 20,

2012 520.00

July 17,

2013

17.


A/C Birla Sun Life Fixed Term Plan - Series EC

January 20,

2012 1,730.00

July 16,

2013

18.


A/C Birla Sun Life Fixed Term Plan - Series EJ

February 27,

2012 1,350.00

August 19,

2013

19. SBI Debt Fund Series-15 Months-9 (Feb-2012)

February 29,

2012 930.00

May 21,

2013

20.

DSP Blackrock Dual Advantage Fund - Series 1

- 36M

March 19,

2012 1,370.00

March 2,

2015

21. DSP Blackrock Ftp Series 7 - 24M

March 19,

2012 400.00

March 17,

2014

22.


A/C Birla Sun Life Fixed Term Plan - Series ER

March 19,

2012 2,150.00

April 8,

2015

Total 52,860.00


93

6. Unsecured Loans – Subordinated Debts

Our Company has issued Subordinated debts of face value of ` 1,000/- each on a private placement basis of which ` 1,06,388.68

lacs is outstanding as on March 31, 2012, the details of which are set forth below:

(` in lacs)

Description Number of Subordinated

Debt Holders

Amount

outstanding as on

March 31, 2012

Redemption

Month

Subordinated debts 2,42,892 1,06,388.68 April 2012 –

September 2018

Total 2,42,892 1,06,388.68

The Company has issued subordinated debts of face value of ` 1,000/- each through public issue (2010) of which ` 8,310.31

lacs is outstanding as on March 31, 2012, the details of which are set out below:

(` in lacs)

Particulars Number of Subordinated

Debt Holders

Amount

outstanding as on

March 31, 2012

Redemption Date

Option –IV (Others) 6 91.00 June 1, 2017

Option –IV (Unreserved Individual

Category)

45 1,687.00 March 1, 2017

Option –IV (Reserved Individual

Category)

2,470 3,746.08 December 1, 2016

Option –V 1,907 2,786.33 June 1, 2017

Total 4,428 8,310.31

A portion of our funding requirements is met through short-term funding sources, being, bank loans,

working capital demand loans, cash credit, short term loans and commercial papers. Further, a large

portion of our loan assets mature over a medium term, while comparatively some of our liabilities in

connection with the credit facilities obtained by us are for a relatively shorter periods of time.

Consequently, our inability to obtain additional credit facilities or renew our existing credit facilities, in a

timely manner or at all, may lead to mismatches between our assets and liabilities.

Based on the structural liquidity position of our Company as on March 31, 2012 as per the RBI norms, our

Company has positive asset liability mismatch of ` 1,010,127 lacs over a period of 6 months till September

30, 2012 based on our submission dated April 30, 2012 to RBI.


94

X. Any material event /Development or change at the time of issue or subsequent to the

issue which may affect the issue or the investors decision to invest/continue to invest in the

debt securities

Subject to the risk factors mentioned herein below and circumstances/situations that may arise there from, in our

opinion, there have been no circumstances that could materially and adversely affect, or likely to affect the trading or

profitability of the Company, which may affect the issue or the investor‟s decision since the company has met all its

obligations in time towards payment of interest / repayment of principal amount.

The following are the risks envisaged by the management and the investors should consider the following risk factors

carefully for evaluating the trading or profitability of the Company and its business before making any investment

decision. Unless the context requires otherwise, the risk factors described below apply to the Company only.

The investors must rely on their own examination and investigation of the Company and its business, their promoters,

associate companies and the Issue including the risks and uncertainties involved.

The Company and its business are subject to risks, uncertainties and assumptions, internal as well as external, and

could materially affect the performance of the company. The following are some of the important factors that could

cause actual results to differ materially from the Company‟s expectations:

INTERNAL RISK FACTORS

Risks relating to our Company and its Business

1. Our financial performance is particularly vulnerable to interest rate volatility.

Our results of operations are substantially dependent upon the level of our Net Interest Margins. Income from

operations is the largest component of our total income, and constituted 99.47% and 99.92% of our total income in

fiscal 2011 and fiscal 2012, respectively. As of March 31, 2012, our assets under financing activities (net of

securitization and assignment) was Rs. 22,08,048.80 lacs. We borrow funds on both fixed and floating rates. We are

exposed to interest rate risks as a result of lending to customers predominantly at fixed interest rates and in amounts

and for periods which may differ from our funding sources. Volatility in interest rates can materially and adversely

affect our financial performance and cash flows. In a rising interest rate environment, if the yield on our interest-

earning assets does not increase simultaneously with or to the same extent as our cost of funds, or, in a declining

interest rate environment, if our cost of funds does not decline simultaneously or to the same extent as the yield on our

interest-earning assets, our net interest income and net interest margin would be adversely impacted. Additional risks

arising from increasing interest rates, among others, include:

increases in the rates of interest charged on various loans in our loan portfolio, which could result in the

extension of loan maturities and higher monthly installments due from borrowers which, in turn, could

result in higher rates of default;


95

reductions in the volume of commercial vehicle loans as a result of clients' inability to service high interest

rate payments; and

reduction in the value of fixed income securities held in our investment portfolio.

Accordingly, our operations are susceptible to fluctuations in interest rates. Interest rates are highly sensitive and

fluctuations thereof are dependent upon many factors which are beyond our control, including the monetary policies of

the RBI, de-regulation of the financial services sector in India, domestic and international economic and political

conditions, inflation and other factors. Rise in inflation, and consequent changes in Bank rates, Repo rates and Reverse

Repo rates by the RBI has led to an increase in interest rates on loans provided by banks and financial institutions, and

market interest rates in India have been volatile in recent periods.

2. Our business requires substantial capital, and any disruption in funding sources would have a material

adverse effect on our liquidity, financial condition and/or cashflows.

As an asset finance company, our liquidity and ongoing profitability are, in large part, dependent upon our timely

access to, and the costs associated with, raising capital. Our funding requirements historically have been met from a

combination of term loans from banks and financial institutions, issuance of redeemable non-convertible debentures,

public deposits, the issue of subordinated bonds and commercial paper, as well as through securitization and

assignment of our loan portfolio. Thus, our business depends and will continue to depend on our ability to access

diversified funding sources. Our ability to raise funds on acceptable terms and at competitive rates continues to depend

on various factors including our credit ratings, the regulatory environment and policy initiatives in India, developments

in the international markets affecting the Indian economy, investors' and/or lenders' perception of demand for debt and

equity securities of NBFCs, and our current and future results of operations and financial condition.

Changes in economic and financial conditions or continuing lack of liquidity in the market could make it difficult for

us to access funds at competitive rates. As an NBFC, we also face certain restrictions on our ability to raise money

from international markets which may further constrain our ability to raise funds at attractive rates.

Such conditions may occur again in the future and may lead to a disruption in our primary funding sources at

competitive costs and would have a material adverse effect on our liquidity, financial condition and/or cash flows.

3. If we are unable to manage the level of NPAs in our loan assets, our financial position and results of

operations may suffer.

Our Gross NPAs as a percentage of Total Loan Assets were 3.14 % and 2.66 % as of March 31, 2012 and March 31,

2011 respectively, while our Net NPAs as a percentage of Net Loan Assets was 0.45 % and 0.38 % as of March 31,

2012 and March 31, 2011, respectively. We cannot be sure that we will be able to improve our collections and

recoveries in relation to our NPAs, or otherwise adequately control our level of NPAs in future. Moreover, as our loan


96

portfolio matures, we may experience greater defaults in principal and/or interest repayments. Thus, if we are not able

to control or reduce our level of NPAs, the overall quality of our loan portfolio may deteriorate and our results of

operations and/or cash flows may be adversely affected. Furthermore, our current provisions may not be adequate

when compared to the loan portfolios of other financial institutions. Moreover, there also can be no assurance that there

will be no further deterioration in our provisioning coverage as a percentage of Gross NPAs or otherwise, or that the

percentage of NPAs that we will be able to recover will be similar to our past experience of recoveries of NPAs. In the

event of any further deterioration in our NPA portfolio, there could be an even greater, adverse impact on our results of

operations and/or cash flows.

4. Our business is focused on commercial vehicle finance for new and pre-owned commercial vehicles and

any adverse developments in this sector would adversely affect our results of operations.

As we focus on providing financing for pre-owned and new commercial vehicles, our asset and NPA portfolios have,

and will likely continue in the future to have, a high concentration of pre-owned and new commercial vehicle financing

arrangements. Moreover, our customer base has, and will likely continue in the future to have, a high concentration of

FTUs and SRTOs. Our business is, therefore, entirely dependent on various factors that impact this customer segment,

such as the demand for transportation services in India, changes in Indian regulations and policies affecting pre-owned

commercial vehicles, natural disasters and calamities, and macroeconomic environment in India and globally. Also,

individual borrowers and FTUs and SRTOs generally are less financially resilient than larger corporate borrowers or

fleet owners, and, as a result, can be more adversely affected by declining economic conditions. Such factors may

result in a decline in the sales or value of new and pre-owned commercial vehicles. Correspondingly, the demand for

finance for pre-owned and new commercial vehicles may decline, which in turn may adversely affect our financial

condition, the results of our operations and/or cash flows. Further, the ability of commercial vehicle owners and/or

operators to perform their obligations under existing financing agreements may be adversely affected if their

businesses suffer as a result of the aforesaid factors.

Accordingly, since our business is not a diversified business, any factor which adversely impacts this segment may

have a disproportionate impact on our operations, profitability and/or cash flows.

5. High levels of customer defaults could adversely affect our business, financial condition, results of

operations and/or cash flows.

Our primary business involves lending money to commercial vehicle owners and operators in India, and we are subject

to customer default risks including default or delay in repayment of principal or interest on our loans. Customers may

default on their obligations to us as a result of various factors including bankruptcy, lack of liquidity, lack of business

and operational failure. If borrowers fail to repay loans in a timely manner or at all, our financial condition, results of

operations and/or cash flows will be adversely impacted.

In addition, our customer portfolio principally consists of SRTOs and FTUs with underdeveloped banking habits, and

individual borrowers generally are less financially resilient than larger corporate borrowers, and, as a result, they can

be more adversely affected by declining economic conditions. In addition, a significant majority of our client base

belongs to the low income group. The owners and/or operators of commercial vehicles financed by us often do not

have any credit history supported by tax returns and other related documents which would enable us to assess their

creditworthiness. In addition, we may not receive updated information regarding any change in the financial condition


97

of our customers or may receive inaccurate or incomplete information as a result of any fraudulent misrepresentation

on the part of our customers. Furthermore, unlike several developed economies, a nationwide credit bureau has only

recently become operational in India, so there is less financial information available about the creditworthiness of

individuals, particularly our client segment who are mainly from the low income group and who typically have limited

access to other financing sources. It is therefore difficult to carry out precise credit risk analyses on our clients.

Although we follow certain procedures to evaluate the credit profile of our customers at the time of sanctioning a loan,

we generally rely on the referrals from the local trucking community and value of the commercial vehicle provided as

underlying collateral rather than on a stringent analysis of the credit profile of our customers. Although we believe that

our risk management controls are sufficient, we cannot be certain that they will continue to be sufficient or that

additional risk management policies for individual borrowers will not be required. Failure to continuously monitor the

loan contracts, particularly for individual borrowers, could adversely affect our credit portfolio which could have a

material and adverse effect on our results of operations, financial condition and/or cash flows.

6. We may not be able to recover, on a timely basis or at all, the full value of collateral or amounts which

are sufficient to cover the outstanding amounts due under defaulted loans.

As a security interest for the financing facilities provided by us to our customers, the vehicles purchased by our

customers are hypothecated in our favour. The value of the vehicle, however, is subject to depreciation, deterioration,

and/or reduction in value on account of other extraneous reasons, over the course of time. Consequently, the realizable

value of the collateral for the credit facility provided by us, when liquidated, may be lower than the outstanding loan

from such customers. Any default in repayment of the outstanding credit obligations by our customers may expose us

to losses. Furthermore, in the case of a default, we typically repossess the commercial vehicles financed and sell such

vehicles through auctions. The hypothecated vehicles, being movable property, may be difficult to locate or seize in the

event of any default by our customers. There can also be no assurance that we will be able to sell such vehicles

provided as collateral at prices sufficient to cover the amounts under default. In addition, there may be delays

associated with such process. A failure or delay to recover the expected value from sale of collateral security could

expose us to a potential loss. Any such losses could adversely affect our financial condition, results of operations

and/or cash flows. Furthermore, enforcing our legal rights by litigating against defaulting customers is generally a slow

and potentially expensive process in India. Accordingly, it may be difficult for us to recover amounts owed by

defaulting customers in a timely manner or at all. The recovery of monies from defaulting customers may be further

compounded by the fact that we do not generally insist on, or receive post dated cheques as security towards the timely

repayment of dues from customers to whom we have provided loans. Further if we are unable to sell any repossessed

vehicles provided as security for such loans, at commercially favourable prices, in a timely manner or at all, we may

not recover the costs of maintaining such repossessed vehicles and our operations, cash flows and profitability could be

adversely affected.

7. The Company is involved in certain legal proceedings for alleged contravention of certain State

legislations in India relating to “money lending” activities. Any unfavourable outcome in such

proceedings and the imposition of any additional restrictive statutory and/or regulatory requirements

may adversely affect our goodwill, business prospects and results of operations.

Certain criminal proceedings have been initiated against our Company by the State of Gujarat and the Inspector of


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Money Lenders, Gujarat in connection with the alleged contravention of the Bombay Money Lenders Act, 1946, as

amended (“BMLA”), before the Metropolitan Magistrate, Ahmadabad, the Chief Judicial Magistrate, Himmatnagar

and the Chief Judicial Palanpur. The complainants have, among other allegations, asserted that the conduct of our

financing business without the requisite license under the BMLA is in contravention of such legislation. Accordingly,

the complainants have sought to prosecute and penalize our Company under Section 34 of the BMLA. We filed

applications under Section 482 of the Code of Criminal Procedure, 1973 against the State of Gujarat and the Inspector

of Money Lenders, Gujarat before the Hon‟ble High Court of Gujarat at Ahmadabad (“Quashing Application”),

seeking to quash such criminal proceedings, and seeking an order for the stay of such criminal proceedings during the

pendency of the Quashing Application. These proceedings initiated against our Company, and the application filed by

our Company, are currently pending hearing and final disposition. Under the provisions of the BMLA, any person who

carries out the business of “money lending” (as defined therein) within the states of Maharashtra and Gujarat without a

valid license for such business under the provisions of the BMLA or enters into any agreement in the course of

business of money lending without a valid license, is, on conviction, punishable (i) for the first offence, with

imprisonment up to one year or a fine of up to Rs. 1,500.00 or both, and (ii) for a second or subsequent offence, with

additional terms of imprisonment of not less than two years, in the case of an individual, and with additional fine of not

less than Rs. 5,000.00, in the case of a corporate entity.

The Company has also filed an appeal before the Supreme Court of India against an order dated November 18, 2009

passed by the Hon‟ble High Court of Kerala in connection with a writ petition filed by our Company challenging the

action of the Commissioner of Commercial Taxes, Kerala, directing our Company to register under the provisions of

the Kerala Money Lenders Act, 1946, as amended (“KMLA”). The Hon‟ble High Court of Kerala, pursuant to the

impugned order, had dismissed an appeal in connection with such writ petition, thereby, among other matters,

confirming such impugned order passed by the Commissioner of Commercial Taxes, Kerala. The Supreme Court has

granted a stay of the order passed by the Hon‟ble High Court of Kerala until final disposal of the appeal at the Supreme

Court. Further, our Company has filed a writ petition, (Writ Petition No. 47108/2011) on November 15, 2011, against

the State of Karnataka and others before the Hon‟ble High Court of Karnataka inter-alia seeking (a) a declaration that

the provisions of the Karnataka Money Lenders Act, 1961 and the Karnataka Prohibition of Charging Exorbitant

Interest Act, 2004, (collectively “Impugned Statutes”), do not apply to our NBFCs and our Company in particular, (b)

striking down the Impugned Statutes, (c) a writ in the nature of certiorari or other suitable writ, order or direction

quashing an order issued by the Karnataka State Money Lending Department dated September 29, 2011 and

proceedings initiated against our Company pursuant to the Impugned Statutes, (d) interim relief by staying the

proceedings initiated against our Company pursuant to the Impugned Statutes and (e) restraining the Karnataka state

money lending authorities from initiating action against our Company under the aforesaid statutes. The Hon‟ble High

Court of Karnataka has vide an order dated December 16, 2011 stayed the proceedings initiated against our Company

pursuant to the Impugned Statutes. The aforesaid matter is pending hearing and final disposal.

There can be no assurance that these proceedings will not be determined adversely to us or that penal or other action

will not be taken against our Company and/or any senior management party to such proceedings. In the event of an

adverse ruling in these proceedings, our Company may be required to register as a money lending entity under the

provisions of the BMLA and/ or the KMLA in order to carry on its financing business, and will be required to comply

with the provisions of such legislation with respect to its business operations within the relevant States. There can also

be no assurance that in the event of such an adverse ruling, similar regulatory authorities in other States of India where

we currently carry on business or propose to carry on business in the future, will not require us to similarly register as a

money lending entity under, and comply with the provisions of, the respective State legislation. State legislation may


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specify various terms and conditions that must be complied with in connection with money lending activities, including

the imposition of maximum interest rates that we may charge, and these maximum interest rates may be significantly

lower than the interest rates that we typically charge on our portfolio against financing activities to our customers. If

we are required to comply with such maximum interest rate limits or any other restrictive provisions specified under

such legislation, our interest income and net interest margin may be adversely impacted. There can also be no

assurance that other conditions and restrictions under such legislation, if applicable to us, will not adversely affect the

conduct of our operations.

8. A large part of our collections are in cash and consequently we face the risk of misappropriation or fraud

by our employees.

A significant portion of our collections from our customers is in cash. Large cash collections expose us to the risk of

fraud, misappropriation or unauthorized transactions by our employees responsible for dealing with such cash

collections. While we have taken insurance policies and coverage for cash in safes and in transit, and undertake

measures to detect and prevent any unauthorized transaction, fraud or misappropriation by our representatives and

officers, this may not be sufficient to prevent or deter such activities in all cases, which may adversely affect our

operations, profitability and/or cash flows. Further, we may be subject to regulatory or other proceedings in

connection with any unauthorized transaction, fraud or misappropriation by our representatives and employees, which

could adversely affect our goodwill.

9. Our significant indebtedness and the conditions and restrictions imposed by our financing arrangements

could restrict our ability to conduct our business and operations in the manner we desire.

As of March 31, 2012, we had an unconsolidated outstanding secured debt (gross of unamortised discount of Rs.

5,139.57 lacs) of Rs. 17,85,710.34 lacs and unconsolidated unsecured debt (gross of unamortised discount of Rs.

2,261.72 lacs) of Rs. 5,34,426.90 lacs, and we will continue to incur additional indebtedness in the future. Most of our

borrowings are secured by our immovable, movable and other assets. Our significant indebtedness could have several

important consequences, including but not limited to the following:

a portion of our cash flow may be used towards repayment of our existing debt, which will reduce the

availability of our cash flow to fund working capital, capital expenditures, acquisitions and other

general corporate requirements;

our ability to obtain additional financing in the future at reasonable terms may be restricted or our cost

of borrowings may increase due to sudden adverse market conditions, including decreased availability

of credit or fluctuations in interest rates;

fluctuations in market interest rates may affect the cost of our borrowings, as some of our indebtedness

are at variable interest rates;

there could be a material adverse effect on our business, financial condition, results of operations

and/or cash flows if we are unable to service our indebtedness or otherwise comply with financial and

other covenants specified in the financing agreements; and


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We may be more vulnerable to economic downturns, may be limited in our ability to withstand

competitive pressures and may have reduced flexibility in responding to changing business, regulatory

and economic conditions.

Some of our financing agreements also include various conditions and covenants that require us to obtain lender

consents prior to carrying out certain activities and entering into certain transactions. Failure to meet these conditions

or obtain these consents could have significant consequences on our business and operations. Specifically, under some

of our financing agreements, we require, and may be unable to obtain, consents from the relevant lenders for, among

others, the following matters: entering into any scheme of merger; spinning-off of a business division; selling or

transferring all or a substantial portion of our assets; making any change in ownership or control or constitution of our

Company; making amendments in our Memorandum and Articles of Association; creating any further security interest

on the assets upon which the existing lenders have a prior charge; and raising funds by way of any fresh capital issue.

Our financing agreements also typically contain certain financial covenants including the requirement to maintain,

among others, specified debt-to-equity ratios, debt-to-net worth ratios, or Tier I to Tier II capital ratios that may be

higher than statutory or regulatory requirements. These covenants vary depending on the requirements of the financial

institution extending the loan and the conditions negotiated under each financing document. Such covenants may

restrict or delay certain actions or initiatives that we may propose to take from time to time.

A failure to observe the covenants under our financing arrangements or to obtain necessary consents required

thereunder may lead to the termination of our credit facilities, acceleration of all amounts due under such facilities and

the enforcement of any security provided. Any acceleration of amounts due under such facilities may also trigger cross

default provisions under our other financing agreements. If the obligations under any of our financing documents are

accelerated, we may have to dedicate a substantial portion of our cash flow from operations to make payments under

such financing documents, thereby reducing the availability of cash for our working capital requirements and other

general corporate purposes. Further, during any period in which we are in default, we may be unable to raise, or face

difficulties raising, further financing. Any of these circumstances could adversely affect our business, credit rating,

financial condition, results of operations and/or cash flows. Moreover, any such action initiated by our lenders could

result in the price of our NCDs being adversely affected.

10. We have in the past acquired, and may continue to acquire in the future, portfolios relating to various

credit and financing facilities from banks and other institutions on a non-recourse basis. If the

performance of such portfolios deteriorates, our business, financial condition, results of operations

and/or cash flows may be adversely affected

We have in the past acquired, and may in the future continue to acquire, portfolios relating to various credit and

financing facilities from various originators including banks and other institutions, in the ordinary course of our

business. If the performance of such portfolios deteriorates, our business, financial condition, results of operations

and/or cash flows may be adversely affected

11. We face increasing competition in our business which may result in declining margins if we are unable to

compete effectively.


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We primarily provide vehicle finance loans to FTUs and SRTOs. Our primary competition historically has been private

unorganized financiers who principally operate in the local market. However, the significant growth in the commercial

vehicle finance segment in recent periods has resulted in various banks and NBFCs increasing their focus on this

sector, particularly for new commercial vehicle finance. In addition, interest rate deregulation and other liberalization

measures affecting the commercial vehicle finance sector, together with increased demand for capital by FTUs and

SRTOs, have resulted in an increase in competition.

All of these factors have resulted in us facing increased competition from other lenders in the commercial vehicle

finance sector, including commercial banks and other NBFCs. Our ability to compete effectively will depend, to some

extent, on our ability to raise low-cost funding in the future. Furthermore, as a result of increased competition in the

commercial vehicle finance sector, vehicle finance products are becoming increasingly standardized and variable

interest rate and payment terms and lower processing fees are becoming increasingly common in the commercial

vehicle finance sector in India. There can be no assurance that we will be able to react effectively to these or other

market developments or compete effectively with new and existing players in the increasingly competitive commercial

vehicle finance industry. Increasing competition may have an adverse effect on our net interest margin and other

income, and, if we are unable to compete successfully, our market share may decline.

If we are unable to compete effectively with other participants in the commercial vehicle finance or equipment finance

sectors, our business, future financial performance and the trading price of the NCDs may be adversely affected.

12. We may not be able to successfully sustain our growth strategy.

In recent years, we have experienced substantial growth. Our growth strategy includes growing our loan book and

expanding our customer base. There can be no assurance that we will be able to sustain our growth strategy

successfully or that we will be able to expand further or diversify our product portfolio. If we grow our loan book too

rapidly or fail to make proper assessments of credit risks associated with new borrowers, a higher percentage of our

loans may become non-performing, which would have a negative impact on the quality of our assets and our financial

condition.

We also face a number of operational risks in executing our growth strategy. We have experienced rapid growth in our

commercial vehicle finance business, our branch network has expanded significantly, and we are entering into new,

smaller towns and cities within India as part of our growth strategy. Our rapid growth exposes us to a wide range of

increased risks, including business risks, such as the possibility that a number of our impaired loans may grow faster

than anticipated, as well as operational risks, fraud risks and regulatory and legal risks. It will also place significant

demands on our management, financial and other resources and will require us to continuously develop and improve

our operational, financial and internal controls. Moreover, our ability to sustain our rate of growth depends

significantly upon our ability to manage key issues such as selecting and retaining key managerial personnel,

maintaining effective risk management policies, continuing to offer products which are relevant to our target base of

clients, developing managerial experience to address emerging challenges and ensuring a high standard of client

service. We will need to recruit new employees, who will have to be trained and integrated into our operations. We will

also have to train existing employees to adhere properly to internal controls and risk management procedures. Failure

to train our employees properly may result in an increase in employee attrition rates, require additional hiring, erode


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the quality of customer service, divert management resources, increase our exposure to high-risk credit and impose

significant costs on us.

13. We may not be able to successfully diversify our product portfolio.

We have expanded our product portfolio to provide, in addition to pre-owned and new commercial vehicle financing,

financing for passenger commercial vehicles, multi-utility vehicles, three-wheelers and tractors, ancillary equipment

and vehicle parts finance, working capital loans for commercial vehicle operators, and freight bill discounting.

Furthermore, we intend to enter into certain new lines of business as part of our growth strategy.

For example, we intend to further develop our equipment finance business, particularly for construction equipment,

through our wholly-owned subsidiary, Shriram Equipment Finance Company Limited established for this purpose. We

have limited experience in these new lines of business which are partly targeted at a different customer segment, and

may encounter additional risks by entering into such new lines of business. We also intend to continue focusing on

developing pre-owned commercial vehicle and construction equipment hubs across India called "Automalls", through

our wholly-owned subsidiary Shriram Automall India Limited, designed to provide a trading platform for the sale of

pre-owned commercial vehicles as well as commercial vehicles repossessed by financing companies along with

showrooms for branded new and refurbished pre-owned commercial vehicles. We intend to provide electronic

advertising and trading infrastructure in these "Automalls", and to utilize this platform for marketing of our financial

products.

We cannot assure that such diversification or expansion of operations will yield favourable or expected results, as our

overall profitability and success will be subject to various factors, including, among others, our ability to obtain

necessary statutory and/or regulatory approvals and licenses in connection with such proposed business as well as

necessary premises for Automall operations in a timely manner, our ability to effectively recruit, retain and motivate

appropriate managerial talent, our relative inexperience in the equipment finance sector and ability to compete with

banks and other NBFCs that are already well established in this market segment, as well as our ability to effectively

absorb additional infrastructure costs. There can also be no assurance that our proposed "Automalls" will be successful

in creating additional source of business for our financial products.

New businesses will require significant capital investments and commitments of time from our senior management,

there also can be no assurance that our management will be able to develop the skills necessary to successfully manage

these new business areas. Our inability to effectively manage any of these issues could materially and adversely affect

our business and impact our future financial performance and/or cash flows.

14. We may experience difficulties in expanding our business into new regions and markets in India.

As part of our growth strategy, we continue to evaluate attractive growth opportunities to expand our business into new

regions and markets in India. Factors such as competition, culture, regulatory regimes, business practices and customs

and customer requirements in these new markets may differ from those in our current markets, and our experience in

our current markets may not be applicable to these new markets. In addition, as we enter new markets and geographical

regions, we are likely to compete not only with other banks and financial institutions but also the local unorganized or

semi-organized private financiers, who are more familiar with local regulations, business practices and customs, and


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have stronger relationships with customers.

If we plan to expand our geographical footprint, our business may be exposed to various additional challenges,

including obtaining necessary governmental approvals, identifying and collaborating with local business and partners

with whom we may have no previous working relationship; successfully gauging market conditions in local markets

with which we have no previous familiarity; attracting potential customers in a market in which we do not have

significant experience or visibility; being susceptible to local taxation in additional geographical areas of India; and

adapting our marketing strategy and operations to different regions of India in which different languages are spoken.

Our inability to expand our current operations may adversely affect our business prospects, financial conditions, results

of operations and/or cash flows.

15. Any downgrade of our credit ratings would increase borrowing costs and constrain our access to capital

and lending markets and, as a result, would negatively affect our net interest margin and our business.

The cost and availability of capital is also dependent on our short-term and long-term credit ratings. Ratings reflect a

rating agency‟s opinion of our financial strength, operating performance, strategic position, and ability to meet our

obligations. In relation to our long-term debt instruments, we currently have long term ratings of „CARE AA+‟ from

CARE, „FITCH AA(ind)‟ from FITCH and „CRISIL AA/Stable‟ from CRISIL. In relation to our short-term debt

instruments, we have also received short term ratings of „CRISIL A1+‟ from CRISIL. The rating of the NCDs by

CRISIL indicates high degree of safety regarding timely servicing of financial obligations and carrying very low credit

risk. The rating of NCDs by CARE indicates high degree of safety regarding timely servicing of financial obligations

and carrying very low credit risk.

Any downgrade of our credit ratings would increase borrowing costs and constrain our access to capital and debt

markets and, as a result, would negatively affect our net interest margin and our business. In addition, downgrades of

our credit ratings could increase the possibility of additional terms and conditions being added to any additional

financing or refinancing arrangements in the future. The ratings provided by CRISIL and/or CARE may be suspended,

withdrawn or revised at any time by the assigning rating agency and should be evaluated independently of any other

rating. These ratings are not a recommendation to buy, sell or hold securities and investors should take their own

decisions. Any such adverse development could adversely affect our business, financial condition, results of operations

and/or cash flows.

16. If we are unable to successfully expand, maintain or leverage our partnership arrangements with private

financiers involved in commercial vehicle financing, our business prospects, results of operations,

financial conditions and/or cash flows may be adversely affected.

Our partnership and co-financing arrangements with private financiers involved in commercial vehicle financing across

India is an integral part of our growth strategy. We enter into strategic partnership agreements with private financiers

ranging from individual financiers and small local private financiers, including other NBFCs, to capitalize on their

local knowledge, infrastructure and personnel base of our partners in order to source new customers. Our franchising

and co-financing arrangements include various revenue-sharing arrangements at pre-determined amounts. For further

information on our franchising and co-financing arrangements, see “Our Business - Our Operations - Customer

Origination - Partnership and Co-Financing Arrangements with Private Financiers”.


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There can be no assurance that our partners will faithfully comply with the procedural and other conditions specified

by us in connection with our arrangements with them in the context of customer origination, credit appraisal process,

loan administration and monitoring and any loan recovery processes, or that our partners will not act in any manner

that could adversely affect our reputation, brand, customer relationships or business interests. For example, we have in

the past experienced certain instances of fraud by certain of our partners. There can also be no assurance that we will

be able to leverage and benefit from our partnership arrangements to effectively source a sufficient volume of new

customers and business commensurate to the revenue-sharing and other incentives provided to our partners under our

arrangements with them.

In addition, we may not be able to identify suitable private financiers in the future with whom we can successfully

partner through such arrangements, or in joint marketing and customer support activities, and there can be no assurance

that we will be able to ensure any level of success with such partnership arrangements for any sustained period of time.

Furthermore, there can be no assurance that there will not be any dispute with such partners in the future. If we are

unable to successfully expand, maintain or leverage our partnership arrangements and relationship with our partners,

our business prospects, results of operations, financial conditions and/or cash flows may be adversely affected.

17. A decline in our capital adequacy ratio could restrict our future business growth.

As per RBI notification dated February 17, 2011, all deposit taking NBFCs have to maintain a minimum capital ratio,

consisting of Tier I and Tier II capital, which shall not be less than 15% of its aggregate risk weighted assets on

balance sheet and risk adjusted value of off-balance sheet items w.e.f. March 31, 2012. Our capital adequacy ratio

computed on the basis of applicable RBI requirements was 22.26% as of March 31, 2012, with Tier I capital

comprising 17.26%. If we continue to grow our loan portfolio and asset base, we will be required to raise additional

Tier I and Tier II capital in order to continue to meet applicable capital adequacy ratios with respect to our business.

There can be no assurance that we will be able to raise adequate additional capital in the future on terms favourable to

us or at all, and this may adversely affect the growth of our business.

18. As part of our business strategy we assign or securitize a substantial portion of our loan assets to banks

and other institutions. Any deterioration in the performance of any pool of receivables assigned or

securitized to banks and other institutions may adversely impact our financial performance and/or cash

flows.

As part of our means of raising and/or managing our funds, we assign or securitize a substantial portion of the

receivables from our loan portfolio to banks and other institutions. Such assignment or securitization transactions are

conducted on the basis of our internal estimates of our funding requirements, which may vary from time to time. In

fiscal 2008, 2009, 2010, 2011 and 2012 we securitized and assigned assets of a book value of Rs. 2,11,822.17 lacs, Rs.

3,12,498.40 lacs, Rs. 8,75,681.04 lacs, Rs. 10,20,361.35 lacs and Rs. 8,34,613.44 lacs, respectively on an

unconsolidated basis. Any change in statutory and/regulatory requirements in relation to assignments or securitizations

by financial institutions, including the requirements prescribed by RBI and the Government of India, could have an

adverse impact on our assignment or securitization transactions. Any adverse changes in the policy and/or regulations


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in connection with securitization of assets by NBFCs and/or new circulars and/or directions issued by the RBI in this

regard, affecting NBFCs or the purchasers of assets, would affect the securitization market in general and our ability to

securitize and/or assign our assets.

We are also required to provide a credit enhancement for the securitization and assignment transactions by way of

either fixed deposits or corporate guarantees and the aggregate credit enhancement amount outstanding as on March

31, 2012 was Rs. 3,46,098.85 lacs on an unconsolidated basis. In the event a relevant bank or institution does not

realize the receivables due under such loan assets, such bank or institution would have recourse to such credit

enhancement, which could have a material adverse effect on our results of operations, financial condition and/or cash

flows.

19. System failures or inadequacy and security breaches in computer systems may adversely affect our

business.

Our business is increasingly dependent on our ability to process, on a daily basis, a large number of transactions. Our

financial, accounting or other data processing systems may fail to operate adequately or become disabled as a result of

events that are wholly or partially beyond our control, including a disruption of electrical or communications services.

Our ability to operate and remain competitive will depend in part on our ability to maintain and upgrade our

information technology systems on a timely and cost-effective basis. The information available to and received by our

management through our existing systems may not be timely and sufficient to manage risks or to plan for and respond

to changes in market conditions and other developments in our operations. We may experience difficulties in

upgrading, developing and expanding our systems quickly enough to accommodate our growing customer base and

range of products.

Our operations also rely on the secure processing, storage and transmission of confidential and other information in our

computer systems and networks. Our computer systems, software and networks may be vulnerable to unauthorized

access, computer viruses or other malicious code and other events that could compromise data integrity and security.

Any failure to effectively maintain or improve or upgrade our management information systems in a timely manner

could materially and adversely affect our competitiveness, financial position and results of operations. Moreover, if

any of these systems do not operate properly or are disabled or if there are other shortcomings or failures in our internal

processes or systems, it could affect our operations or result in financial loss, disruption of our businesses, regulatory

intervention or damage to our reputation. In addition, our ability to conduct business may be adversely impacted by a

disruption in the infrastructure that supports our businesses and the localities in which we are located.

20. We may not be able to maintain our current levels of profitability due to increased costs or reduced

spreads.

Our business strategy involves a relatively high level of ongoing interaction with our customers. We believe that this

involvement is an important part of developing our relationship with our customers, identifying new cross-selling

opportunities and monitoring our performance. However, this level of involvement also entails higher levels of costs

and also requires a relatively higher gross spread, or margin, on the finance products we offer in order to maintain

profitability. There can be no assurance that we will be able to maintain our current levels of profitability if the gross

spreads on our finance products were to reduce substantially, which could adversely affect our results of operations


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and/or cash flows.

21. We face asset-liability mismatches which could affect our liquidity and consequently may adversely affect

our operations, profitability and/or cash flows.

We face potential liquidity risks due to varying periods over which our assets and liabilities mature. As is typical for

NBFCs, a portion of our funding requirements is met through short-term funding sources such as bank loans, working

capital demand loans, cash credit, short term loans and commercial papers. However, a large portion of our loan assets

mature over a medium term. Consequently, our inability to obtain additional credit facilities or renew our existing

credit facilities, in a timely and cost-effective manner or at all, may lead to mismatches between our assets and

liabilities, which in turn may adversely affect our operations, financial performance and/or cash flows. Further,

mismatches between our assets and liabilities are compounded in case of pre-payments of the financing facilities we

grant to our customers.

22. Our loan portfolio may no longer continue to be classified as priority sector advances by the RBI.

The RBI currently mandates domestic commercial banks operating in India to maintain an aggregate 40.0% (32.0% for

foreign banks) of adjusted net bank credit or credit equivalent amount of off-balance sheet exposure, whichever is

higher as “priority sector advances”. These include advances to agriculture, micro and small enterprises (including

SRTOs, which constitute the largest proportion of our loan portfolio), micro enterprises within the micro and small

enterprises sector, export credit, advances to weaker sections where the Government seeks to encourage flow of credit

for developmental reasons. Banks in India that have traditionally been constrained or unable to meet these

requirements organically, have relied on specialized institutions like us that are better positioned to or exclusively

focus on originating such assets through on-lending or purchase of assets or securitized and assigned pools to comply

with these targets.

In the event that any part of our loan portfolio is no longer classified as a priority sector advance by the RBI, or if the

laws relating to priority sector lending as applicable to the banks undergo a change, our ability to securitize our asset

pool will be hampered, which may adversely affect our financial condition, results of operations and/or cash flows.

23. Any change in control of our Promoter or our Company may correspondingly adversely affect our

operations and profitability.

As of date of this Information Memorandum, SCL holds 50.17% of the paid up share capital of our Promoter, Shriram

Holdings (Madras) Private Limited, and the remaining shares in Shriram Holdings (Madras) Private Limited were held

by certain strategic investors. Shriram Holdings (Madras) Private Limited holds 41.26% of the paid up share capital of

our Company as on March 31, 2012. Further, once the proposed SHMPL Scheme is approved by the High Court of

Hon‟ble High Court of Madras and is brought into force, our Promoter, SHMPL will be dissolved and there will be a

change in control of our Company, whereby SCL shall become the promoter of our Company. If SCL ceases to

exercise direct control over our Promoter and/or indirect or direct control over our Company, as a result of any transfer

of shares (other than pursuant to the SHMPL Scheme) or otherwise, our business and results of operations could be


107

adversely affected.

24. Inability to achieve a favourable outcome from the restructuring of our Company pursuant to the

proposed SHMPL Scheme could adversely affect our operations and profitability.

The Board of Directors of our Company and the board of directors of SHMPL have in their respective board meetings,

both held on December 21, 2011, have passed resolutions, approving a scheme of amalgamation and arrangement,

whereby the business and undertaking of our Promoter is proposed to merged into our Company.

If our Company is unable to benefit from the synergies or efficiencies expected from this arrangement or if the

proposed arrangement does not yield desired results, our Company‟s operations and financial condition may be

materially adversely affected.

25. The trade mark/service mark and logo in connection with the “Shriram” brand which we use is licensed

to us and consequently, any termination or non-renewal of such license may adversely affect our

goodwill, operations and profitability. Further, our current logo which we are using for our corporate

publicity campaigns and as included in this Information Memorandum is not registered. Our inability to

register such logo and/or to adequately protect the same may adversely affect our goodwill, operations

and profitability.

Pursuant to a license agreement dated April 1, 2010 between our Company and Shriram Ownership Trust, (“SOT”) we

are entitled to use the brand name “Shriram” and the associated mark. In this regard, our Company has to pay to SOT,

0.25% on the gross turnover of our Company for the first year of the License Agreement. Royalty rates for the

subsequent years will be decided mutually on or before April 1st of the respective financial years. Along with the

royalty, our Company also is required to pay to SOT amounts by way of reimbursement of actual expenses incurred by

SOT in respect of protection and defence of the Copyright. The License Agreement is valid for a period of three years

from the date of execution thereof.

This license agreement is valid until March 31, 2013. In the event such license agreement is terminated or is not

renewed or extended in the future, we may not be entitled to use the brand name “Shriram” and the associated mark in

connection with our business operations. Consequently, we will not be able to derive the goodwill that we have been

enjoying under the “Shriram” brand. Further, if the commercial terms and conditions including the consideration

payable pursuant to the said agreement are revised unfavourably, our Company may be required to allocate larger

portions of its profits and/or revenues towards such consideration, which would adversely affect our profitability.

Further, our current logo which we are using for our corporate publicity campaigns and as included in this Information

Memorandum is not registered. Our inability to register such logo and/or to adequately protect the same may adversely

affect our goodwill, operations and profitability.

We operate in a competitive environment, and we believe that our brand recognition is a significant competitive

advantage to us. If the license and user agreement is not renewed or terminated, we may need to change our name,

trade mark/service mark or the logo. Any such change could require us to incur additional costs and may adversely

impact our goodwill, business prospects and results of operations.


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Our Company has obtained trademark registration for the brand names „NEW LOOK‟, „OKHORNPLEASE.COM‟,

„TRUCK AUCTION‟, „AUTO RECON‟, „AUTO BAZAR‟, „TRUCK UTSAV‟, „TRUCK BAZAR‟, „TRUCK

MALL‟, „SHRIRAM AUTO MALL‟ (brand name & logo), „AUTO AUCTION‟, „TRUCK RECON‟ and „AUTO

MALL‟ and has made applications for registration of trademarks, namely, „OKHORNPLEASE.COM‟, „Shriram ONE

STOP The Truck Bazaar (logo)‟, „Shriram NEW LOOK Refurbished Truck (logo)‟, „SHRIRAM Automall (logo)‟,

„Automall (logo)‟, „AUTO RECON‟, „TRUCK BAZAR‟, „TRUCK UTSAV‟, „TRUCK RECON‟, „TRUCK MALL‟,

„TRUCK AUCTION‟, „AUTO AUCTION‟, „SHRIRAM AUTO MALL‟, „AUTO BAZAR‟ and „AUTO MALL‟,

under different classes, under the Trade Marks Act, 1999 which are pending as on date of this Information

Memorandum.

26. We have certain contingent liabilities which may adversely affect our financial condition.

As of March 31, 2012, we had certain contingent liabilities not provided for, which includes contingent liability in

respect of disputed income tax/interest tax demand contested in appeals not provided for Rs. 5,691.53 lacs on an

unconsolidated basis and guarantees and counter guarantees given of Rs. 2,33,498.60 lacs on an unconsolidated basis.

For further information on such contingent liabilities, see Annexure VI to our Reformatted Unconsolidated Summary

Financial Statements. In the event that any of these contingent liabilities materialize, our financial condition may be

adversely affected.

27. We are involved in various legal and other proceedings that if determined against us could have a

material adverse effect on our financial condition and results of operations.

We are currently involved in a number of legal proceedings arising in the ordinary course of our business. These

proceedings are pending at different levels of adjudication before various courts and tribunals, primarily relating to

civil suits and tax disputes.

An adverse decision in these proceedings could materially and adversely affect our business, financial condition and

results of operations.

28. Inaccurate appraisal of credit may adversely impact our business.

We may be affected by failure of employees to comply with internal procedures and inaccurate appraisal of credit or

financial worth of our clients. Inaccurate appraisal of credit may allow a loan sanction which may eventually result in a

bad debt on our books of accounts. In the event we are unable to check the risks arising out of such lapses, our business

and results of operations may be adversely affected.

29. We may have to comply with strict regulations and guidelines issued by regulatory authorities in India.

We are regulated principally by and have reporting obligations to the RBI. We are also subject to the corporate,

taxation and other laws in effect in India. The regulatory and legal framework governing us may continue to change as

India‟s economy and commercial and financial markets evolve. In recent years, existing rules and regulations have


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been modified, new rules and regulations have been enacted and reforms have been implemented which are intended to

provide tighter control and more transparency in India‟s asset finance sector. Further, RBI may increase the minimum

capital adequacy requirement for deposit taking NBFCs such as us.

Compliance with many of the regulations applicable to our operations may involve significant costs and otherwise may

impose restrictions on our operations. If the interpretation of the regulators and authorities varies from our

interpretation, we may be subject to penalties and the business of our Company could be adversely affected. There can

be no assurance that changes in these regulations and the enforcement of existing and future rules by governmental and

regulatory authorities will not adversely affect our business and future financial performance.

30. Our ability to assess, monitor and manage risks inherent in our business differs from the standards of

some of our counterparts in India and in some developed countries.

We are exposed to a variety of risks, including liquidity risk, interest rate risk, credit risk, operational risk and legal

risk. The effectiveness of our risk management is limited by the quality and timeliness of available data.

Our hedging strategies and other risk management techniques may not be fully effective in mitigating our risks in all

market environments or against all types of risk, including risks that are unidentified or unanticipated. Some methods

of managing risks are based upon observed historical market behaviour. As a result, these methods may not predict

future risk exposures, which could be greater than the historical measures indicated. Other risk management methods

depend upon an evaluation of information regarding markets, customers or other matters. This information may not in

all cases be accurate, complete, current, or properly evaluated. Management of operational, legal or regulatory risk

requires, among other things, policies and procedures to properly record and verify a number of transactions and

events. Although we have established these policies and procedures, they may not be fully effective. Our future success

will depend, in part, on our ability to respond to new technological advances and evolving NBFC and vehicle finance

sector standards and practices on a cost-effective and timely basis. The development and implementation of such

technology entails significant technical and business risks. There can be no assurance that we will successfully

implement new technologies or adapt our transaction-processing systems to customer requirements or evolving market

standards.

31. Our Promoter has significant control in our Company, which will enable them to influence the outcome

of matters submitted to shareholders for approval, and their interests may differ from those of other

holders of Equity Shares.

As of March 31, 2012, Shriram Holdings (Madras) Private Limited, our Promoter, beneficially owned approximately

41.26% of our share capital. See “Capital Structure”. Our Promoter has the ability to control our business including

matters relating to any sale of all or substantially all of our assets, the timing and distribution of dividends and the

election or termination of appointment of our officers and directors. This control could delay, defer or prevent a change

in control of our Company, impede a merger, consolidation, takeover or other business combination involving our

Company, or discourage a potential acquirer from making a tender offer or otherwise attempting to obtain control of

our Company even if it is in our Company‟s best interest. In addition, for so long as our Promoter continues to exercise

significant control over our Company, it may influence the material policies of our Company in a manner that could


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conflict with the interests of our other shareholders. The Promoter group may have interests that are adverse to the

interests of our other shareholders and may take positions with which we or our other shareholders do not agree.

32. Certain shareholders of our Promoter Shriram Holdings (Madras) Private Limited have rights to

nominate directors on our Board.

Pursuant to the Share Subscription Agreement dated February 2, 2006, as amended on September 12, 2008 (“Share

Subscription Agreement”), between Newbridge India Investments II Limited (“New Bridge”), our Promoter, Mr. R.

Thyagarajan, Mr. T. Jayaraman, Mr. AVS Raja and Shriram Financial Services Holding Private Limited ( now known

as SCL), (collectively, “Founders”), Shriram Recon Trucks Limited, Shriram Holdings (Madras) Private Limited and

SOFL, New Bridge, which currently holds 49.0% of the paid-up share capital of our Promoter Shriram Holdings

(Madras) Private Limited, is entitled to appoint two nominee directors on our Board. Furthermore, in the event that the

size of the Board is increased beyond 12 directors, New Bridge and the Founders will each be entitled to appoint three

directors on the Board. In the event that any shareholder having a right to nominate a director ceases to have such right,

then the resulting vacancy shall be filled by the appointment of independent directors. In addition, New Bridge, on the

one hand, and the Founders, on the other hand, are entitled to nominate an equal number of nominees on any

committee of the Board.

Under the terms of such Share Subscription Agreement, certain reserved matters require the affirmative vote and/or

prior consent of the directors nominated by New Bridge and the Founders on our Board or any committee thereof.

These matters include, among others, any further issuance of any Equity Shares by our Company; acquisition of the

assets of any other business; creation of a joint venture or partnership, or merger, demerger and consolidation or any

other business combination; disinvestment in any subsidiary; appointment, removal and revision of the compensation

of key personnel; capital expenditure in excess of Rs. 50.00 lacs; any amendment to the memorandum or articles of

association of our Company; any amendment in the annual business plan of our Company; commencement of a new

line of business; any changes to material accounting or tax policies; recommendation of or declaration of dividend or

distribution of any kind; removal of the statutory or internal auditor; any bankruptcy, dissolution, insolvency,

recapitalization, reorganization, assignment to creditors, winding up and/or liquidation; an increase or reorganization in

the issued, subscribed or paid up equity or preference share capital; any connected person transaction; any amendment,

modification or cancellation of the trademark license agreement (license and user agreement) for the use of the

"Shriram" brand and associated logos. In the event that the beneficial ownership of New Bridge in our Company,

indirectly through our Promoter or directly, becomes greater than that of the Founders, then the number of reserved

matters requiring the affirmative vote of the directors nominated by the Founders would be reduced; moreover, in such

event, New Bridge shall also be entitled to appoint and remove the managing director (whether designated as managing

director, CEO, COO or otherwise) and other key employees of our Company and of our Promoter.

As an exit mechanism, New Bridge may, at any time after expiry of two years from September 12, 2008, require our

Promoter to distribute the shares held by our Promoter in our Company amongst the Founders and New Bridge in

proportion to their respective holdings in our Promoter; in the alternative, New Bridge may require the merger of our

Promoter with our Company in order to effect such distribution. Moreover, after two years from September 12, 2008,

New Bridge is entitled to acquire controlling interest in our Promoter from the Founders, subject to the payment of a

call option price plus a control premium. The Company, the Founders and our Promoter Shriram Holdings (Madras)

Private Limited have agreed to jointly and severally indemnify New Bridge in the event of any breach of the terms of

such Share Subscription Agreement. Drag along rights are also provided for in the Share Subscription Agreement.

After March 31, 2011 New Bridge is entitled, at any time to require the founders to sell all or part of the latter's shares


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or warrants in our Company or in our Promoter. In the event that New Bridge does not accept the purchase offer of a

proposed purchaser as communicated by the Founders, New Bridge may in turn present the Founders with the terms of

another purchase offer, which shall not provide for a lower purchase price.

New Bridge and the Founders, pursuant to their rights under the Share Subscription Agreement and as shareholders in

our Promoter, may influence policies of our Company in a manner that could conflict with the interests of our other

shareholders. New Bridge and the Founders may have interests that are adverse to the interests of our other

shareholders and may take positions with which our Company or our other shareholders do not agree.

33. We have entered into certain related party transactions.

We have entered into transactions with related parties, within the meaning of AS 18 as notified by the Companies

(Accounting Standards) Rules, 2006. These transactions include royalty paid to Shriram Ownership Trust pursuant to

the License Agreement dated April 1, 2010 between our Company and Shriram Ownership Trust in connection with

the use of the brand name "Shriram" and the associated mark. For further information on our related party transactions,

within the meaning of AS 18 as notified by the Companies (Accounting Standards) Rules, please see the section titled

“Financial Information”. Such transactions may give rise to current or potential conflicts of interest with respect to

dealings between us and such related parties. Additionally, there can be no assurance that any dispute that may arise

between us and related parties will be resolved in our favour.

34. Any failure by us to identify, manage, complete and integrate acquisitions, divestitures and other

significant transactions successfully could adversely affect our results of operations, business prospects

and/or cash flows.

As part of our business strategy, we may acquire complementary companies or businesses, divest non-core businesses

or assets, enter into strategic alliances and joint ventures and make investments to further our business. In order to

pursue this strategy successfully, we must identify suitable candidates for and successfully complete such transactions,

some of which may be large and complex, and manage the integration of acquired companies or employees. We may

not fully realize all of the anticipated benefits of any such transaction within the anticipated timeframe or at all. Any

increased or unexpected costs, unanticipated delays or failure to achieve contractual obligations could make such

transactions less profitable or unprofitable. Managing business combination and investment transactions requires

varying levels of management resources, which may divert our attention from other business operations, may result in

significant costs and expenses and charges to earnings. The challenges involved in integration include:

combining product offerings and entering into new markets in which we are not experienced;

consolidating and maintaining relationships with customers;

consolidating and rationalizing transaction processes and corporate and IT infrastructure;

integrating employees and managing employee issues;


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coordinating and combining administrative and other operations and relationships with third parties in

accordance with applicable laws and other obligations while maintaining adequate standards, controls

and procedures;

achieving savings from infrastructure integration; and

managing other business, infrastructure and operational integration issues.

35. The BSE has suspended the trading of our Equity Shares in the past.

Pursuant to an order dated December 18, 1998, issued by the BSE, the trading of our Equity Shares on the BSE was

suspended from December 21, 1998 to January 3, 1999 on account of alleged non-compliance with clauses 15 and 16

of the listing agreement entered into with the BSE in connection with the listing and trading of our Equity Shares.

Our failure to comply with the provisions of the listing agreements executed between our Company and the stock

exchanges where our securities are listed, in a timely manner or at all, may expose us to regulatory proceedings and/or

penal action.

36. Our success depends in large part upon our management team and key personnel and our ability to

attract, train and retain such persons.

Our ability to sustain our rate of growth depends significantly upon our ability to manage key issues such as selecting

and retaining key managerial personnel, developing managerial experience to address emerging challenges and

ensuring a high standard of client service. In order to be successful, we must attract, train, motivate and retain highly

skilled employees, especially branch managers and product executives. If we cannot hire additional qualified personnel

or retain them, our ability to expand our business will be impaired and our revenue could decline. We will need to

recruit new employees, who will have to be trained and integrated into our operations. We will also have to train

existing employees to adhere properly to internal controls and risk management procedures. Failure to train and

motivate our employees properly may result in an increase in employee attrition rates, require additional hiring, erode

the quality of customer service, divert management resources, increase our exposure to high-risk credit and impose

significant costs on us. Hiring and retaining qualified and skilled managers are critical to our future, as our business

model depends on our credit-appraisal and asset valuation mechanism, which are personnel-driven operations.

Moreover, competition for experienced employees in the commercial vehicle finance sector can be intense. While we

have an incentive structure and an Employee Stock Option Scheme designed to encourage employee retention, our

inability to attract and retain talented professionals, or the resignation or loss of key management personnel, may have

an adverse impact on our business, future financial performance and/or cash flows.

37. We are exposed to fluctuations in the market values of our investment and other asset portfolio.


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Recent turmoil in the financial markets has adversely affected economic activity globally, including in

India. Continued deterioration of the credit and capital markets could result in volatility of our investment earnings and

impairments to our investment and asset portfolio, which could negatively impact our financial condition and reported

income.

38. Our results of operations could be adversely affected by any disputes with our employees.

As of March 31, 2012, we employed 15,057 full-time employees. Currently, none of our employees are members of

any labour union. While we believe that we maintain good relationships with our employees, there can be no assurance

that we will not experience future disruptions to our operations due to disputes or other problems with our work force,

which may adversely affect our business and results of operations.

39. Our inability to obtain, renew or maintain our statutory and regulatory permits and approvals required

to operate our business may have a material adverse effect on our business.

We require certain statutory and/or regulatory permits and approvals for our business. In the future, we will be required

to renew such permits and approvals and obtain new permits and approvals for any proposed operations. There can be

no assurance that the relevant authorities will issue any of such permits or approvals in a timely manner or at all, and/or

on favourable terms and conditions. Failure by us to comply with the terms and conditions to which such permits or

approvals are subject, and/or to renew, maintain or obtain the required permits or approvals may result in the

interruption of our operations and may have a material adverse effect on our business, financial condition and results of

operations.

40. We are subject to supervision and regulation by the RBI as a deposit-taking NBFC, and changes in RBI’s

regulations governing us could adversely affect our business.

We are subject to the RBI‟s guidelines on financial regulation of NBFCs, including capital adequacy, exposure and

other prudential norms. The RBI also regulates the credit flow by banks to NBFCs and provides guidelines to

commercial banks with respect to their investment and credit exposure norms for lending to NBFCs. The RBI‟s

regulations of NBFCs could change in the future which may require us to restructure our activities, incur additional

cost or could otherwise adversely affect our business and our financial performance.

The RBI, from time to time, amends the regulatory framework governing NBFCs to address, inter-alia, concerns

arising from certain divergent regulatory requirements for banks and NBFCs. Pursuant to two notifications dated

December 6, 2006, (Notifications No. DNBS. 189 / CGM (PK)-2006 and DNBS.190 / CGM (PK)-2006), the RBI

amended the NBFC Acceptance of Public Deposits (Reserve Bank) Directions, 1998, reclassifying deposit taking

NBFCs, such as us. We are also subject to the requirements of the Non Banking Financial (Deposit Accepting or


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Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007, issued by the RBI on February 22, 2007, as

amended.

The laws and regulations governing the banking and financial services industry in India have become increasingly

complex and cover a wide variety of issues, such as interest rates, liquidity, securitization, investments, ethical issues,

money laundering and privacy. In some cases, there are overlapping regulations and enforcement authorities.

Moreover, these laws and regulations can be amended, supplemented or changed at any time such that we may be

required to restructure our activities and incur additional expenses to comply with such laws and regulations, which

could materially and adversely affect our business and our financial performance.

Compliance with many of the regulations applicable to our operations in India and/or outside India, including any

restrictions on investments, lending and other activities currently being carried out by our Company, involves a number

of risks, particularly in areas where applicable regulations may be subject to varying interpretations. If the

interpretation of the regulators and authorities varies from our interpretation, we may be subject to penalties and our

business could be adversely affected. We are also subject to changes in Indian laws, regulations and accounting

principles and practices. There can be no assurance that the laws governing the Indian financial services sector will not

change in the future or that such changes or the interpretation or enforcement of existing and future laws and rules by

governmental and regulatory authorities will not adversely affect our business and future financial performance.

41. Our insurance coverage may not adequately protect us against losses.

We maintain such insurance coverage that we believe is adequate for our operations. Our insurance policies, however,

may not provide adequate coverage in certain circumstances and are subject to certain deductibles, exclusions and

limits on coverage. We maintain general liability insurance coverage, including coverage for errors or omissions. We

cannot, however, assure you that the terms of our insurance policies will be adequate to cover any damage or loss

suffered by us or that such coverage will continue to be available on reasonable terms or will be available in sufficient

amounts to cover one or more large claims, or that the insurer will not disclaim coverage as to any future claim.

A successful assertion of one or more large claims against us that exceeds our available insurance coverage or changes

in our insurance policies, including premium increases or the imposition of a larger deductible or co-insurance

requirement, could adversely affect our business, financial condition and results of operations.

Risks Relating to the Utilization of Issue Proceeds

42. The fund requirement and deployment mentioned in the Objects of the Issue have not been appraised by

any bank or financial institution.

We intend to use the proceeds of the Issue, after meeting the expenditures of and related to the Issue, for our various

financing activities including lending and investments, subject to applicable statutory and/or regulatory requirements,

to repay our existing loans and our business operations including for our capital expenditure and working capital

requirements. The fund requirement and deployment is based on internal management estimates and has not been

appraised by any bank or financial institution. The management will have significant flexibility in applying the

proceeds received by us from the Issue. Further, as per the provisions of the Debt Regulations, we are not required to


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appoint a monitoring agency and therefore no monitoring agency has been appointed for this Issue.

Risks Relating to the NCDs

43. Changes in interest rates may affect the price of our NCDs.

All securities where a fixed rate of interest is offered, such as our NCDs, are subject to price risk. The price of such

securities will vary inversely with changes in prevailing interest rates, i.e. when interest rates rise, prices of fixed

income securities fall and when interest rates drop, the prices increase. The extent of fall or rise in the prices is a

function of the existing coupon, days to maturity and the increase or decrease in the level of prevailing interest rates.

Increased rates of interest, which frequently accompany inflation and/or a growing economy, are likely to have a

negative effect on the price of our NCDs.

44. You may not be able to recover, on a timely basis or at all, the full value of the outstanding amounts

and/or the interest accrued thereon in connection with the NCDs.

Our ability to pay interest accrued on the NCDs and/or the principal amount outstanding from time to time in

connection therewith would be subject to various factors inter-alia including our financial condition, profitability and

the general economic conditions in India and in the global financial markets. We cannot assure you that we would be

able to repay the principal amount outstanding from time to time on the NCDs and/or the interest accrued thereon in a

timely manner or at all. Although our Company will create appropriate security in favour of the Debenture Trustee for

the NCD Holders on the assets adequate to ensure asset cover for the NCDs, which shall be free from any

encumbrances, the realizable value of the assets charged as security, when liquidated, may be lower than the

outstanding principal and/or interest accrued thereon in connection with the NCDs. A failure or delay to recover the

expected value from a sale or disposition of the assets charged as security in connection with the NCDs could expose

you to a potential loss.

45. Payments to be made on the NCDs will be subordinated to certain tax and other liabilities preferred by

law.

The NCDs will be subordinated to certain liabilities preferred by law such as the claims of the Government on account

of taxes, and certain liabilities incurred in the ordinary course of our business. In particular, in the event of bankruptcy,

liquidation or winding-up, our Company‟s assets will be available to pay obligations on the NCDs only after all of

those liabilities that rank senior to these NCDs have been paid as per Section 530 of the Companies Act. In the event of

bankruptcy, liquidation or winding-up, there may not be sufficient assets remaining to pay amounts due on the NCDs.

46. If we do not generate adequate profits, we may not be able to maintain an adequate Debenture

Redemption Reserve, (“DRR”), for the NCDs issued pursuant to this Information Memorandum.

Section 117C of the Act states that any company require to maintain a DRR to which adequate amounts shall be

credited out of the profits of the company until the debentures are redeemed. The Ministry of Corporate Affairs has,


116

through its circular dated April 18, 2002, (“Circular”), specified that the quantum of DRR to be created before the

redemption liability actually arises in normal circumstances should be „adequate‟ to pay the value of the debentures

plus accrued interest, (if not already paid), till the debentures are redeemed and cancelled. The Circular however

further specifies that, for NBFCs like our Company, (NBFCs which are registered with the RBI under Section 45-IA of

the RBI Act), the adequacy of the DRR will be 50% of the value of debentures issued through the public issue.

Accordingly our Company is required to create a DRR of 50% of the value of debentures issued through the public

issue. As further clarified by the Circular, the amount to be credited as DRR will be carved out of the profits of the

company only and there is no obligation on the part of the company to create DRR if there is no profit for the particular

year. Accordingly, if we are unable to generate adequate profits, the DRR created by us may not be adequate to meet

the 50% of the value of the NCDs. This may have a bearing on the timely redemption of the NCDs by our Company.

47. Any downgrading in credit rating of our NCDs may affect the value of NCDs and thus our ability to raise

further debts.

The rating of the NCDs by CRISIL/CARE/FITCH (whichever applicable) indicates high degree of safety regarding

timely servicing of financial obligations and carrying very low credit risk. The ratings provided by CRISIL and/or

CARE may be suspended, withdrawn or revised at any time by the assigning rating agency and should be evaluated

independently of any other rating. These ratings are not a recommendation to buy, sell or hold securities and investors

should take their own decisions.

48. There is no active market for the NCDs on the WDM segment of the stock exchanges. As a result the

liquidity and market prices of the NCDs may fail to develop and may accordingly be adversely affected.

There can be no assurance that an active market for the NCDs will develop. If an active market for the NCDs fails to

develop or be sustained, the liquidity and market prices of the NCDs may be adversely affected. The market price of

the NCDs would depend on various factors inter alia including (i) the interest rate on similar securities available in the

market and the general interest rate scenario in the country, (ii) the market price of our Equity Shares, (iii) the market

for listed debt securities, (iv) general economic conditions, and, (v) our financial performance, growth prospects and

results of operations. The aforementioned factors may adversely affect the liquidity and market price of the NCDs,

which may trade at a discount to the price at which you purchase the NCDs and/or be relatively illiquid.

49. There may be a delay in making refunds to applicants.

We cannot assure you that the monies refundable to you, on account of (a) withdrawal of your applications, (b) our

failure to receive minimum subscription in connection with the Base Issue, (c) withdrawal of the Issue, or (d) failure to

obtain the final approval from the NSE and/or the BSE for listing of the NCDs, will be refunded to you in a timely

manner. We however, shall refund such monies, with the interest due and payable thereon as prescribed under

applicable statutory and/or regulatory provisions.

EXTERNAL RISK FACTORS

1. Our business is dependent on the automobile and transportation industry in India.

Our business to a large extent depends on the continued growth in the automobile and transportation industry in India,


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which is influenced by a number of extraneous factors which are beyond our control, inter-alia including (a) the

macroeconomic environment in India, (b) the demand for transportation services, (c) natural disasters and calamities,

and (d) changes in regulations and policies in connection with motor vehicles. Such factors may result in a decline in

the sales or value of new and pre-owned CVs. Correspondingly, the demand for availing finance for new and pre-

owned commercial vehicles may decline, which in turn may adversely affect our financial condition and the results of

our operations. Further, the ability of CV owners and/or operators to perform their obligations under existing financing

agreements may be adversely affected if their businesses suffer as a result of the aforesaid factors.

2. Increase in competition from our peer group in the CV finance sector may result in reduction of our

market share, which in turn may adversely affect our profitability.

Our Company provides loans to pre-owned and new CV owners and/or operators in suburban and rural areas in India.

Although, we have been named as the largest asset financing NBFC in India providing CV finance*, we have been

increasingly facing competition from domestic and foreign banks and NBFCs operating in the CV finance segment of

the industry. Some of our competitors are very aggressive in underwriting credit risk and pricing their products and

may have access to funds at a lower cost, wider networks and greater resources than our Company. Our financial

condition and results of operations are dependent on our ability to obtain and maintain low cost funds and to provide

prompt and quality services to our customers. If our Company is unable to access funds at a cost comparable to or

lower than our competitors, we may not be able to offer loans at competitive interest rates to our customers.

* The D&B Research Report had named our Company as the largest asset financing NBFC in India in terms of their

research based on various financial and non-financial parameters.

While our Company believes that it has historically been able to offer competitive interest rates on the loans extended

to our customers, there can be no assurance that our Company will be able to continue to do so in the future. An

increase in competition from our peer group may result in a decline in our market share, which may in turn result in

reduced incomes from our operations and may adversely affect our profitability.

3. Our growth depends on the sustained growth of the Indian economy. An economic slowdown in India

and abroad could have a direct impact on our operations and profitability.

Macroeconomic factors that affect the Indian economy and the global economic scenario have an impact on our

business. The quantum of our disbursements is driven by the growth in demand for CVs. Any slowdown in the Indian

economy may have a direct impact on our disbursements and a slowdown in the economy as a whole can increase the

level of defaults thereby adversely impacting our Company‟s, profitability, the quality of its portfolio and growth

plans.

4. Political instability or changes in the government could delay further liberalization of the Indian

economy and adversely affect economic conditions in India generally, which could impact our business.

Since 1991, the Government has pursued a policy of economic liberalization, including significantly relaxing

restrictions on the private sector. There can be no assurance that these liberalization policies will continue in the future


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as well. The rate of economic liberalization could change, and specific laws and policies affecting financial services

companies, foreign investment, currency exchange rates and other matters affecting investments in Indian companies

could change as well. A significant slowdown in India‟s economic liberalization and deregulation policies could

disrupt business and economic conditions in India, thus affecting our business. Any political instability in the country,

including any change in the Government, could materially impact our business adversely.

5. Civil unrest, terrorist attacks and war would affect our business.

Terrorist attacks and other acts of violence, war or conflicts, particularly those involving India, as well as the United

States of America, the United Kingdom, Singapore and the European Union, may adversely affect Indian and global

financial markets. Such acts may negatively impact business sentiment, which could adversely affect our business and

profitability. India has from time to time experienced, and continues to experience, social and civil unrest, terrorist

attacks and hostilities with neighboring countries. Also, some of India‟s neighboring countries have experienced, or are

currently experiencing internal unrest. This, in turn, could have a material adverse effect on the Indian economy and in

turn may adversely affect our operations and profitability and the market for the NCDs.

6. Our business may be adversely impacted by natural calamities or unfavorable climatic changes.

India, Bangladesh, Pakistan, Indonesia, Japan and other Asian countries have experienced natural calamities such as

earthquakes, floods, droughts and a tsunami in recent years. Some of these countries have also experienced pandemics,

including the outbreak of avian flu. These economies could be affected by the extent and severity of such natural

disasters and pandemics which could, in turn affect the financial services sector of which our Company is a part.

Prolonged spells of abnormal rainfall, draught and other natural calamities could have an adverse impact on the

economy, which could in turn adversely affect our business and the price of our NCDs.

7. Any downgrading of India's sovereign rating by an international rating agency (ies) may affect our

business and our liquidity to a great extent.

Any adverse revision to India's credit rating for domestic and international debt by international rating agencies may

adversely impact our ability to raise additional finances at favorable interest rates and other commercial terms. This

could have an adverse effect on our growth, financial performance and our operations.

XI. Particulars of debt securities issued (i) for consideration other than cash, whether in

whole or part, (ii) at a premium or discount, or (iii) in pursuance of an option

The Company till date has not issued any debt securities for consideration other than cash in whole or part/ pursuance

of an option.

The Company has issued debt securities at a Discount. Details of debt securities issued at a Discount as on March 31,

2012 are as follows:


119

Type of Debentures Issue Size (Rs.) Face Value per

Debenture (Rs.) Issue Price (Rs.)

Redeemable Non-Convertible Debentures 50000000.00 1000000.00 862780.00



















XII. Details of highest ten holders of each kind of securities of the Company as on the 5th July

2012 along with particulars as to number of shares or debt securities held by them and the

address of each such holder

List of top ten holders of Equity Shares of our Company as on July 6, 2012:

Sr.

No

Name of shareholders Address Total

Number of

Equity

Shares held

Percentage

Holding

(%)

1. Shriram Holdings

(Madras) Private

Limited

Mookambika Complex, 4 Lady Desika

Road, Mylapore, Chennai 600004.

93,371,512 41.26


120

Sr.

No

Name of shareholders Address Total

Number of

Equity

Shares held

Percentage

Holding

(%)

2. Genesis Indian

Investment Company

Limited -General Sub

Fund

Deutsche Bank Ag DB House, Hazarimal

Somani Marg, Post Box No. 1142,

Fort, Mumbai 400001.

16,720,066 7.39

3. Shriram Capital

Limited

IV Floor, Mookambika Complex 4, Lady

Desika Road, Mylapore Chennai 600004.

11,194,828 4.95

4. Ontario Teachers'

Pension Plan Board-

NP3A - All


Somani Marg, Post Box No. 1142,


6,664,619 2.95

5. ICICI Prudential Life

Insurance Company

Limited


Somani Marg Post Box No. 1142,


4,988,881 2.20

6. Stichting Pensioenfonds

ABP

JPMorgan Chase Bank N.A, India Sub

Custody 6th Floor, Paradigm B Mindspace,

Malad West, Mumbai 400064.

3,397,943 1.50

7. Equinox Partners LP Citibank N A, Custody Services 3rd Flr, Trent

House, G Block, Plot No. 60, BKC, Bandra -

East Mumbai 400051.

3,079,240 1.36

8. Merrill Lynch Capital

Markets Espana S.A.

S.V.

Citibank N A, Custody Services 3rd Flr, Trent


East Mumbai 400051.

3,075,749 1.36

9. Fidelity Investment

Trust - Fidelity

Diversified

International Fund

JPMorgan Chase Bank N.A., India Sub

Custody 6th Floor, Paradigm B Mindspace,

Malad West, Mumbai 400064.

2,342,970 1.04

10. Vanguard Emerging

Markets Stock Index

Fund, Aseries Of

Vanguard International

Equity INDE X Fund


Somani Marg Post Box No. 1142,


2,325,465 1.03


121

List of top ten holders of Debt instruments, as on July 6, 2012.

1. List of top ten Subordinate Debt instruments holders (issued on private placement basis) face value Rs. 1,000/- as on

July 6, 2012.

Sr.

No

Name of Sub Debt holder Address Number of

Sub - Debt

Aggregate

Amount (Rs.

in lacs)

1. Shriram General

Insurance Company

Limited

E- 8,Epip Riico Industrial Area, Sitapura,

Jaipur, Rajasthan

115,000 1,150.00

2. Shriram Asset

Management Company

Limited

106 Shiv Chambers,Sector-11,CBD-Belapur,

Navi Mumbai,Maharashtra,400614

41,340 413.40

3. Milind P Bhandarkar 1119 Model Colony, Flat No 101 Great

Estern Retreat,Nr Lakaki

Bungalow,Pune,Maharashtra,411016

10,200 102.00

4. Urmila Ulhas Ghosalkar H No 1777 Times Bhawan, Daily Ratnagiri

Times, Maruti Lane, Ratnagiri, Maharashtra

9,546 95.46

5. Shriram Life Insurance

Company Limited

Regd Office 3-6-478,Anand Estates Iii Floor,

Liberty Road, Himayath Nagar Hyderabad,

Andhra Pradesh

8,400 84.00

6. Virender Awasty & Son A-5/1,Vasant Vihar, New

Delhi,Haryana,110057

8,400 84.00

7. Deepa Dani B-1001,Frangipani,Behind Hotel Woodland 5

Bj, Near Sadhu Vaswani

Chowk,Pune,Maharashtra,411001

7,500 75.00

8. Fathima Natchiyal A 6 Lemair Nagar, First Cross, Karaikal,

Tamilnadu

5,880 58.80

9. Timbera Balakrishna

Rao

H NO. 6 Kausalya Estate, Karkhana Main

Road, Secunderabad, Andhra Pradesh-

500009

5,500 55.00

10. Thakorbhai Nanubhai

Desai

101/A, Premji Apt., S. V. Road, Borivali (W),

Mumbai, Maharashtra-400092

5,230 52.30

2. List of Debenture holders (issued on private placement basis) face value Rs. 1,000/- as on July 6, 2012.

Sr. No Name of Debenture

holder

Address Number of

Debentures

Aggregate

Amount (Rs.

in lacs)


122

Sr. No Name of Debenture

holder

Address Number of

Debentures

Aggregate

Amount (Rs.

in lacs)

1. V Shankar A-121/122, Kalpataru Residency, Opposite

Cine Planet, Sion (East ) Ph No 9820432200,


600,000.00 6,000.00

2. Shriram Life Insurance

Company Limited

3-6-478 Anand Estate, 3rd Floor Libarty

Road, Himayath nagar, Hyderabad, Andhra

Pradesh

251,946.00 2,519.46

3. Shriram General

Insurance Company

Limited

E-B, Epip, Riico Industrial Area, Sitapura,

Jaipur, Rajastan-302022

208,900.00 2,089.00

4. Lalitha Swaminathan Flat-31 3rdfloor, Khushali, Plot No 358

Central Avenue rd, Chembur, Mumbai,

Maharashtra-400071

63,240.00 632.40

5. Tilak Maharashtra

Vidyapeeth

Vidyapeeth Bhavan, Gultekadi, Pune,

Maharashtra-411037

50,000.00 500.00

6. Jagadguru Kripalu

Parishat (Ssd)

H A F (B), Part I,Sector -10 Dwarka Subcity,

New Delhi-110075

40,000.00 400.00

7. Almighty Impex

Private Limited

102, Neelkanth House, S-524, School Block,

Shakarpur, New Delhi-110092

35,000.00 350.00

8. Shuneel Kumari Ram N-29/C, Saket, New Delhi-110017 30,900.00 309.00

9. Ail Staff Provident

Fund Trust

Plot No 25 Phase Iv Sector 18, Electronic City,

Gurgaon, Haryana-122015

30,000.00 300.00

10. Sivagama Sundari D Old No 32 New No 60, South Boag Road,

T.Nagar, Chennai, Tamilnadu-600017

25,000.00 250.00

11. Geetoo Kirpalani 20 St James Court, Marine Drive, Churchgate,


25,000.00 250.00

12. Bhavna Ashwinbhai

Patel

40-B, Sangthan Society, Near Gurukul Road,

Opposite Sunrise Park Drive In Road,

Ahmedabad, Maharashtra-380052

25,000.00 250.00

3. List of top ten holders of Deposit as on July 6, 2012

Sr.

No

Name of Deposit holder Address Aggregate

Amount (Rs.

in lacs)

1. I C S Technology

Services Private Limited

I C S Technology Services Private Limited, Plot No 141 Phase

3 Kamalapuri Colony, Srinagar Colony, 0, Hyderabad,

Andhra Pradesh,500016

625.00


123

Sr.

No

Name of Deposit holder Address Aggregate

Amount (Rs.

in lacs)

2. Shriram General

Insurance Company

Limited

Shriram General Insurance Company Limited, E- 8,Epip

Riico Industrial Area, Sitapura, Jaipur, Rajasthan, India

550.00

3. Alkem Laboratories

Limited

Alkem House 3rd Floor Senapati Bapat Marg, Lower Parel (W)

Tel-9324804117 Mumbai Maharashtra- 400013

500.00

4. Raghuram J Chandrani Raghuram J Chandrani, 6/36 Jalaram Nivas,Jalaram Bapa,

Virpur, Tel-02823-281421, Rajkot, Gujarat

390.00

5. Somak B Ghosh Somak B Ghosh, F No 5 Sea Side Apts 18-A, Chibai Road

Bandra(W), 0, Mumbai, Maharashtra

350.00

6. Vishalakshi Nanjappa Vishalakshi Nanjappa, No 7 Rucela Apts 43 /2, Promenade

Road, Fraser Town, Bangalore, Karnataka-560005

320.00

7. Kirti Sheth Kirti Sheth, 701-702/A Kent Residency, Chandavarkar Road

Extention. At,Eksar Road, Borivali(W), Mumbai,

Maharashtra-400092

275.00

8. Waheeda Rekhy Waheeda Rekhy, Sahil Bunglow, 111 D J Road, 0, Bandra West

PH - 9886419338, Mumbai, Maharashtra-400050

250.00

9. Sudershan Nirula Sudershan Nirula, A-17, Sector-19, Nodia, Gautam Budh

Nagar, Ph.26252369, Nodia, U.P-201301

240.00

10. Bhansali Trust Bhansali Trust, 640/646, Panchratna, Mama Parmanand Marg,


225.00

4. List of top ten holders of Secured Non-Convertible Debentures as on July 6, 2012 issued to public - (non

convertible debentures - 2009)- ISIN – INE 721A07952 -Option –I (Rs. 87.25 crores) of face value Rs. 1,000/- per

debenture:

Sr.

No.

Name of debenture

holder

Address Number of

debentures

Aggregate

Amount

(Rs. in lacs)

1. LIC Nomura MF Special

Unit Scheme

Lic mutual fund, Asset Management Company

Limited, industrial assurance building 4th

floor, opp. Churchgate station mumbai-

400020

2,53,875 2,538.75

2. Bangiya Gramin Vikash

Bank

Bmc house, chuapur p. O. Berhampore dist.

Murshidabad, w.b - 742101

50,000 500.00


124

Sr.

No.

Name of debenture

holder

Address Number of

debentures

Aggregate

Amount

(Rs. in lacs)

3. Kotak Mahindra Trustee

Company Limited - A/C

Kotak Monthly Income

Plan

Deutsche bank ag db house, hazarimal somani

marg post box no. 1142, fort mumbai- 400001

32,984 329.84


Company Limited A/c

kotakflexi debt scheme

Deutsche bank ag DB house, hazarimal

somani marg post box no. 1142, fort mumbai-

400001

14,850 148.50

5. LIC Nomura MF

Childrens Fund

Jeevan Bima Sahayog Asset Management

Industrial Assurance Building 4th Floor,Opp

Churchgate Station Mumbai- 400020

9,000 90.00

6. Pinkhem Investments

Company Private

Limited

Bombay Cotton Mills Compound Dattaram

Lad Path Mumbai - 400033

6,265 62.65

7. Trustees Hindustan Steel

Limited

Contributoryprovident

Fund, Rourkela

Sail Rourkela Rourkela- 769001 4,354 43.54

8. Power and Insulators

Private Limited

115 N.S. Road 3rd. floor Kolkata- 700001 4,235 42.35

9. Shardadevi K Poddar 87 Mountunique 11th Floor 62/A Peddar Road

Mumbai- 400026

3,200 32.00

10. Raj Kumar Damani 27 Sudarsan 22ld Ruparel Marg Mumbai-

400006

2,498 24.98


convertible debentures - 2009)- ISIN – INE 721A07960 -Option –II (Rs. 73.75 crores) of face value Rs. 1,000/- per

debenture:

Sr.

No.

Name of debenture

holder

Address Number of

debentures

Aggregate

Amount

(Rs. in lacs)


125

Sr.

No.

Name of debenture

holder

Address Number of

debentures

Aggregate

Amount

(Rs. in lacs)

1. IBDI Bank Limited –

TBO

IDBI Limited IDBI Tower 17th Floor World

Trade Centre Complex Cuffe Parade Mumbai-

400005

32,984 329.84

2. UCO Bank Treasury Branch Uco Bank Building

Mezzanine Floor 359 Dr D N Road Fort

Mumbai- 400001

32,984 329.84

3. Vipul Rameshchandra

Shah

22/28, Khetwadi 7th Lane, Hanuman Niwas

Mumbai- 400004

5,721 57.21

4. M K Recreation Private

Limited

B 167 Kalpan Tenament Opp Pushpam Cob

Vatva Road Isanpur Ahmedabad- 382443

2,350 23.50

5. Hemant Jaysukhlal

Gandhi

411 Veena Vihar Near Shanmukhananda Hall

Sion Mumbai- 400022

1,887 18.87

6. Purvi Bansal B/365 New Friends Colony New Delhi- 110025 1,822 18.22

7. Jinender Jain S-21 Greater Kailash-Ii Ground Floor New

Delhi- 110048

1,800 18.00

8. Trilok Chand Mitla Y-59 Hauz Khas New Delhi New Delhi –

110016

1,715 17.15

9. Dipti Ketan Gopani 903, Rudraksha, 9th Floor Nariman Rd Vile

Parle (E) Mumbai- 400057

1,500 15.00

10. Kishore R. Patel 1802, Ramkrupa bldg. parekh street girgaum

Mumbai.- 400004

1,500 15.00


convertible debentures - 2009)- ISIN – INE 721A07978 - Option –III (Rs. 104.23 crores) of face value Rs. 1,000/-

per debenture:


126

Sr.

No.

Name of debenture holder Address Number of

debentures

Aggregate

Amount

(Rs. in lacs)

1. ICICI Securities Primary

Dealership Limited

ICICI Centre H T Parekh Marg Churchgate

Mumbai- 400020

100,000 1,000.00

2. UTI-MIS-Advantage Plan UTI AMC PrivateLimited Uti tower,gn block

bandra kurla complex bandra (east), mumbai-

400051

65,969 659.69

3. Edelweiss Finance And

Investments Limited

Edelweiss House Off C S T Road Kalina

Mumbai - 400098

65,000 650.00

4. Haren textile Private

Limited

Before Dahisar Toll Naka W E Highway

Dahisar (East) Mumbai- 400068

36,651 366.51

5. Cheviot Company Limited 24 Park Street Magma House 9th Floor

Kolkata- 700016

20,000 200.00

6. Ecl Finance Limited Edelweiss House Off C S T Road Kalina

Mumbai Maharashtra- 400098

18,010 180.10

7. Star Chemicals (Bombay)

Private Limited

55/58 Jolly Maker Chambers No-Ii Fifth Floor

Nariman Point Mumbai- 400021

15,000 150.00

8. Manish Kishan Gupta 1 Sardar Patel Nagar Ellisbridge Ahmedabad-

380006

10,050 100.50

9. Asiatic Oxygen Limited Block No.1 6th Floor Stadium House Veer

Nariman Road Churchgate Mumbai - 400020

8,490 84.90

10. Kusum Shroff Nirvan Bldg 2nd Floor Oomer Park 95/D

Bhulabhai Desai Road Mumbai- 400036

8,087 80.87


convertible debentures - 2009)- ISIN – INE 721A07986 -Option –IV (Rs. 22.74 crores) of face value Rs. 1,000/- per

debenture:

Sr.

No.


debentures

Aggregate

Amount

(Rs. in lacs)


127

Sr.

No.


debentures

Aggregate

Amount

(Rs. in lacs)


Dealership Limited


Mumbai- 400020

104,299 1,042.99

2. Vishnu Kumar Bangur 199, Chittaranjan Avenue Kolkata- 700006 2,387 23.87

3. Manish Kishan Gupta 1 Sardar Patel Nagar Ellisbridge Ahmedabad-

380006

2,200 22.00

4. Bharati Ajay Sheth 10 Kailas Deep 2 Floor 38 Bajaj Road Vile

Parle Mumbai, Opp Vishwakarma Baug

Mumbai- 400056

1,800 18.00

5. Pjl Clothing ( India )

Limited

27, Raghuvanshi Estate Senapati Bapat Marg

Lower Parel Mumbai- 400013

1,486 14.86

6. Meena Bangur 199, Chittaranjan Avenue Kolkata- 700006 1,453 14.53

7. Kk Securities Limited 76-77, Scindia House, Ist Floor Above Allhabad

Bank, Janpath New Delhi- 110001

1,000 10.00

8. Paru Mayur Shridharani A-707/708, Shree Adinath Tower Near Nensey

Colony Borivli East Mumbai- 400066

1,000 10.00

9. Baroda Brokers Private

Limited

Klassic Chambers 2nd Floor Nr Navrangpura

Post Office Navrangpura Ahmedabad- 380009

950 9.50

10. Smt Sitadevi N Poddar

Charity Trust

6/B Court Chambers 35 New Marine Lines

Mumbai- 400020

891 8.91


convertible debentures - 2009)- ISIN – INE 721A07994 - Option –V (Rs. 404.83 crores) of face value Rs. 1,000/-

per debenture:

Sr.

No.


debentures

Aggregate

Amount

(Rs. in lacs)

1. Kotak Mahindra Bank

Limited

Kmbl Treasury Account 2nd Floor,

Bakhtawar, 229, Nariman Point Mumbai -

400021

765,114 7,651.14


128

Sr.

No.


debentures

Aggregate

Amount

(Rs. in lacs)

2. Birla Sun Life Trustee

Company Private Limited

A/C Birla Sun Life Cash

Plus

Standard Chartered Bank, Crescenzo

Securities Services, 3rd Floor C-38/39 G-Block,

Bkc Bandra (East) Mumbai – 400051

440,000 4,400.00

3. HDFC Trustee Company

Limited -Hdfc Floating

Rate Income Fund A/C

Short Term Plan

HDFC Bank Limited, Custody, Services Lodha

- I Think Techno Campus Off Flr 8, Next To

Kanjurmarg Stn Kanjurmarg East Mumbai-

400042

270,376 2,703.76

4. Radha Madhav

Investments Limited

11 A Mittal Chambers Nariman Point

Mumbai- 400021

250,000 2,500.00


Limited A/C Hdfc Cash

Management Fund

Savings Plan

HDFC Bank Limited, Custody Services Lodha



400042

200,000 2,000.00

6. ECL Finance Limited Edelweiss House Off C S T Road Kalina

Mumbai - 400098

180,000 1,800.00

7. Bajaj Allianz Life

Insurance Company

Limited

Deutsche bank ag db house, hazarimal somani

marg post box no. 1142, fort mumbai- 400001

169,791 1,697.91

8. Wishbone Global

Investment Holdings

Citibank N A, custody services 3rd flr, trent

house, g block, plot no. 60, bkc, bandra - east

mumbai- 400051

150,000 1,500.00

9. ICICI Prudential Short

Term Plan




400042

150,000 1,500.00

10. State Bank Of Hyderabad Treasury Department 7th Floor Sbi Lho

Building Bandra-Kurla Complex Bandra

(East) Mumbai- 400051

132,984 1,329.84

9. List of top ten holders of Secured Non-Convertible Debentures as on July 6, 2012 issued to public (non convertible

debentures - 2010) - ISIN - INE721A07AJ1 - Option –I (other Secured) (Rs. 33.99 crores) of face value Rs. 1,000/-

per debenture:


129

Sr.

No.


debentures

Aggregate

Amount

(Rs. in lacs)

1. UTI - Treasury Advantage

Fund

UTI Mutual Fund,UTI Asset Management

Company Limited, department of fund

accounts,uti tower, gn block, bandra kurla

complex, bandra (east), mumbai- 400051

88,325 883.25


Dealership Limited


Mumbai- 400020

84,569 845.69

3. Dhruvi Securities Private

Limited

NO 25/1 Skip House Museum Road

Bangalore- 560025

42,284 422.84

4. State Bank Of India SBI SG Global Secu. Serv. P. L. Jeevan Seva

Extension Bldg.Gr. Floor S.V. Road, Santacruz

W Mumbai- 400054

35,330 353.30

5. Deutsche Trustee Services

(India) Private Limited

A/C Dws Hybrid Fixed


Standard Chartered Bank, CRESCENZO


BKC Bandra (East) Mumbai - 400051

25,330 253.30

6. Vijaya Bank Treasury management department head office

41/2. M g road, trinity circle bangalore- 560001

17,665 176.65

7. STCI Finance Limited HDFC Bank Limited, Custody Services Lodha



400042

16,914 169.14


Limited

Alkem House, Devashish Adjs To Matulya

House S.B.Marg, Lower Parel Mumbai-

400013

8,457 84.57

9. Surplus Finvest Private

Limited

Sobo Central 5th Floor 28 P T Madan Mohan

Malviya Rd Tardeo Mumbai- 400034

5,074 50.74


130

Sr.

No.


debentures

Aggregate

Amount

(Rs. in lacs)

10. Deutsche Trustee Services

(India) Private Limited

A/C Dws Money Plus

Advantage Fund

Standard Chartered Bank, CRESCENZO


BKC Bandra (East) Mumbai - 400051

5,000 50.00

10. List of top ten holders of Secured Non-Convertible Debentures as on July 6 ,2012 issued to public (non convertible

debentures - 2010) - ISIN – INE721A07AK9 - Option–I (Unreserved Individual Secured) - (Rs. 104.96 crores) of

face value Rs. 1,000/- per debenture:

Sr.

No.

Name of debenture

holder

Address Number of

debentures

Aggregate

Amount

(Rs. in lacs)

1. Reliance Capital

Trustee Company

Limited A/C-

Relianceregular Savings

Fund-Debt Option

Deutsche Bank AG DB House, Hazarimal

Somani Marg, Post Box No. 1142, Fort,

Mumbai- 400001

251,600 2,516.00

2. United Bank Of India The Deputy General Manager, UBI

Investment, Fund Management Dept Head

Office, 4th Floor 16, Old Court House Street,

Kolkata- 700001

200,000 2,000.00

3. UTI Dynamic Bond

Fund


Company Limited, Department Of Fund

Accounts,UTI Tower, Gn Block, Bandra Kurla

Complex, Bandra (East), Mumbai- 400051

191,500 1,915.00

4. Cholamandalam MS

General Insurance

Company Limited




400042

150,000 1,500.00


131

Sr.

No.

Name of debenture

holder

Address Number of

debentures

Aggregate

Amount

(Rs. in lacs)

5. UTI Short Term Income

Fund

UTI Mutual Fund UTI - Asset Management

Company Private Limited. UTI Tower, Gn

Block, Bandra Kurla Complex, Bandra (East),

Mumbai- 400051

100,000 1,000.00

6. Army Group Insurance

Fund

AGI Bhawan Rao Tula Ram Marg, Post

Vasant Vihar, New Delhi – 110057

50,000 500.00

7. Natasha Singh 55 / 5b Ashirwad Bungalow, Salisbury Park,

Pune - 411037

14,209 142.09

8. Vatsal Neelakantan 703a Brich Wood, Hiranandani Gardens,

Powai Mumbai- 400076

9,923 99.23

9. Kshitij Neelakantan 703 A Brichwood, Hirnandani Gardens, Powai

Mumbai- 400076

9,923 99.23

10. Rajesh Ghelubhai Desai Surya, Plot No. 7, Karthik Enclave, Near

Diamond Point, Sikh Road, Secunderabad-

500009

9,473 94.73


debentures – 2010) - ISIN – INE721A07AL7- Option –I (Reserved Individual Secured) (Rs. 18.59 crores) of face

value Rs. 1,000/- per debenture:

Sr.

No.

Name of debenture

holder

Address Number of

debentures

Aggregate

Amount

(Rs. in lacs)

1. ACG Associated

Capsules Private Limited

131, Kandivali Industrial Estate, Kandivali

(West) Mumbai- 400067

19,514 195.14

2. Aegis Logistics Limited 403, Peninsula Chambers, Ganpatrao Kadam

Marg, Lower Parel, Mumbai- 400013

10,000 100.00

3. Keshav Securities

Private Limited

Plot No 7, Ashok Nagar Society, N S Road, No

11, JVPD Scheme, Vile Parle West Mumbai-

400049

6,972 69.72


132

Sr.

No.

Name of debenture

holder

Address Number of

debentures

Aggregate

Amount

(Rs. in lacs)


Insurance Company

Limited


Somani Marg, Post Box No. 1142, Fort

Mumbai- 400001

3,200 32.00

5. Yogesh Agarwal 4th Floor, B- Block, Rohit Bhawan, 4 Sapru

Marg, Lucknow- 226001

1,700 17.00

6. Tripta Agarwal 4th Floor, B Block, Rohit Bhawan, 4 Sapru

Marg, Lucknow- 226001

1,689 16.89

7. Bedrock Limited 6 B Court Chambers 35 New Marine Lines

Mumbai- 400020

1,547 15.47

8. Nalini Ishwarlal

Khandwala

1001 Manju Apts, Narayan Dabholkar Road,

Mumbai- 400006

1,088 10.88

9. Provident Fund Of

Mangalore Refinery And


Mrpl Lgf, Mercantile House 15, K.G.Marg,

Connaught Place New Delhi- 110001

1,000 10.00

10. Patel Arvind Girdharilal 92, Darya Mahal, B 16th, Floor 80, Napeansea

Road, Mumbai- 400006

996 9.96


debentures - 2010) - ISIN – INE721A07AM5 - Option –II (Other Secured ) (Rs. 8.97 crores) of face value Rs.

1,000/- per debenture:

Sr.

No.

Name of debenture

holder

Address Number of

debentures

Aggregate

Amount

(Rs. in lacs)

1. LIC Nomura MF Special

Unit Scheme

LIC Mutual Fund, Asset Management

Company Limited, Industrial Assurance

Building 4th Floor, Opp. Churchgate Station

Mumbai- 400020

35,330 353.30


133

Sr.

No.

Name of debenture

holder

Address Number of

debentures

Aggregate

Amount

(Rs. in lacs)

2. Reliance Life Insurance

Company Limited


Somani Marg Post Box No. 1142, Fort

Mumbai- 400001

26,498 264.98


Insurance Company

Limited



Mumbai- 400001

25,001 250.01

4. The National Company

Operative Bank Limited

53/1 Bull Temple Road Bangalore - 560019 1,767 17.67

5. Sri Sathya Sai Institute

Of Higher Medical

Sciences Pg Employees

Gratuity Fund Trust

Prasanthi Gram, Anantapur District, Andhra

Pradesh- 515134

370 3.70

6. Pradip Credit Private

Limited

2 G, Jodges Court Road, Kolkata- 700027 253 2.53

7. Doyen Commodities

Private Limited

1, British Indian Street, 6th Floor, Room No –

608, Kolkata- 700069

169 1.69

8. Shree Swetamber Jain

Seva Samaj

Udyog Bhavan, Khargate On Ghoghawala

Dispensary, Bhavnagar- 364001

127 1.27

9. Frognal Finance And

Investment Private

Limited

E- 55, Panchsheel Park, New Delhi- 110017 85 0.85

10. Sykes & Ray Equities

(Mumbai) Private

Limited

1st Floor, Doulatram Mansion, Kitridge Road,

Colaba, Mumbai- 400005

85 0.85

13. List of top ten holders of Secured Non-Convertible Debentures as on July 6, 2012 issued tso public (non

convertible debentures - 2010) - ISIN - INE721A07AN3 -Option –II (Unreserved Individual Secured) (Rs. 8.32

crores) of face value Rs. 1,000/- per debenture:

Sr.

No.

Name of debenture

holder

Address Number of

debentures

Aggregate

Amount

(Rs. in lacs)


134

Sr.

No.

Name of debenture

holder

Address Number of

debentures

Aggregate

Amount

(Rs. in lacs)

1. V.Mathran & Company

Private Limited

Vaishno Chambers 6,Brabourne Road, 5th

Floor, Kolkata- 700001

12,911 129.11

2. Arun Chaturbhuj 2092 93, B Wing, Clover Regench V T Wadi

Ramji Asar Lane, Ghatkopar E, Mumbai-

400077

9,473 94.73

3. Mathran Securities

Private Limited

506,Vaishno Chambers 6, Brabourne Road

Kolkata- 700001

5,390 53.90

4. Prerna Agency Private

Limited

46, Durgapur Lane, Flat No-102, 1st Floor,

Kolkata- 700027

5,000 50.00

5. Sukhbir Singh Dhupia HSBC Securities Services 2nd Floor"Shiv",

Plot No.139-140 B Western Exp Highway,

Sahar Rd Junct Vile Parle-E, Mumbai- 400057

4,736 47.36

6. Aseem Dewan 478 Hawa Singh Block Asian Games Village

Complex New Delhi- 110049

2,970 29.70

7. Madhabi Puri Buch 24 Cluny Park Singapore- 259629 2,842 28.42

8. Udit Jitendra Shah 52, Marble Arch, 7th Floor Peddar Road,

Mumbai- 400026

2,842 28.42

9. Subhadra R Shah C/O Shreyas Impex, 265 Princess Street, Above

Parsi Dairy, Mumbai- 400002

2,368 23.68

10. Vinod V Shah C/O Shreyas Impex, 265 Princess Street, Above

Parsi Dairy, Mumbai Mumbai- 400002

2,368 23.68


debentures - 2010) - ISIN – INE721A07AO1 Option –II (Reserved Individual Secured ) (Rs. 45.25 crores) of face


Sr.

No.

Name of debenture

holder

Address Number of

debentures

Aggregate

Amount

(Rs. in lacs)


135

Sr.

No.

Name of debenture

holder

Address Number of

debentures

Aggregate

Amount

(Rs. in lacs)

1. Bedrock Limited 6 B Court Chambers, 35 New Marine Lines,

Mumbai- 400020

14,299 142.99

2. Nalini T Vassa 17,A/Sweethome Society, Nr,Shreyas Tekra

Ambawadi Ahmedabad- 380015

12,239 122.39

3. Smt Sitadevi N Poddar

Charity Trust

6/B Court Chambers 35 New Marine Lines

Mumbai- 400020

12,141 121.41

4. Poddar Tyres Limited 5/D Court Chambers, 35 New Marine Lines,

Mumbai- 400020

11,827 118.27

5. Red Commodities

Private Limited

2, S. N. Banerjee Road, Middle Gate Mezz

Floor, Kolkata- 700013

9,900 99.00

6. Mind Investments And

Consultancy Services

Private Limited.

11/13,Botawala Building, 2nd Floor,Room

No.7, Horniman Circle, Mumbai- 400023

3,845 38.45

7. Ketan P. Shroff Flat No.-202, Wing 2a, Versova Horizon View

Chs, 7 Bunglows, Off J. P. Road, Andheri

(West) Mumbai- 400061

2,550 25.50

8. Jagdish Bapu

Salgaonkar

Flat No-111 Belmonte Tower Condomin

Telephone Colony Nr Magnet Mall Mogal

Lane Mahim Mumbai- 400016

2,500 25.00

9. ICICI Prudential Mip 25 HDFC Bank Limited, Custody Services Lodha


Kanjurmarg Stn, Kanjurmarg East, Mumbai-

400042

2,459 24.59

10. Indu Kukreja J - 149 A , J - Block , Rajouri Garden Delhi-

110027

2,336 23.36


debentures - 2010) - ISIN – INE721A07AP8 -Option –III (Other Secured) (Rs. 40.42 crores) of face value Rs.



136

Sr.

No.

Name of debenture

holder

Address Number of

debentures

Aggregate

Amount

(Rs. in lacs)

1. Money Matters Financial

Services Limited

1-B, 35, Court Chambers, Sir Vithaldas

Thakersay Marg, New Marine Lines, Mumbai-

400020

169,137 1691.37

2. ICICI Bank Limited Treasury Middle Office Group 2nd Floor,

North Tower, East Wing ICICI Bank Tower,

BKC, Bandra (East) , Mumbai- 400051

88,325 883.25

3. Axis Bank Limited Treasury Ops Non Slr Desk Corp Off Axis

House Level 4 South Blk Wadia International

Centre P B Marg Worli, Mumbai- 400025

83,325 833.25

4. Sudhir Gensets Limited Sudhir Gensets Limited Plot No.1 Sector 34

E.H.T.P. Gurgaon Haryana- 122001

42,284 422.84

5. Poddar Tyres Limited 5-D, Court Chambers 35, New Marine Lines,

Mumbai, Mumbai- 400020

6,764 67.64

6. Surendra M Tulsyan B 803, Windsor Avenue, Near Salunke Vihar

Wanowadi, Pune- 411040

2,000 20.00

7. Poonam Gupta B 500 Sushantlok 1 Opp ICICI Bank Sushant

Lok Branch Gurgaon- 122001

2,000 20.00

8. Bedrock Limited 6 B Court Chambers 35 New Marine Lines

Mumbai- 400020

1,691 16.91

9. Zodiac Tradelink Private

Limited

C/O 817 Bombay Market, 8th Floor,

Tardeo Road, Mumbai- 400034

1,691 16.91

10. Ivan Elvin Saldanha 401 Royale, 2nd Hasanabad Road, Santacruz

W, Mumbai- 400054

1,000 10.00


debentures - 2010) - ISIN – INE721A07AQ6 - Option –III (Unreserved Individual Secured) – (Rs. 39.28


Sr.

No.

Name of debenture

holder

Address Number of

debentures

Aggregate

Amount

(Rs. in lacs)


137

Sr.

No.

Name of debenture

holder

Address Number of

debentures

Aggregate

Amount

(Rs. in lacs)

1. Sudhir Seth 14 Chinar Drive, Palam Marg DLF

Chhatterpur Farm, New Delhi- 110074

44,781 447.81

2. Bein Developers Private

Limited

509 , International Trade Tower, Nehru Place,

New Delhi- 110019

31,000 310.00

3. Sanjay Kumar Nathani G 4 Farishta Complex, G E Road, Raipur-

492001

19,160 191.60

4. Urmila Mehrotra Khattri House, Tikait Rai Ka Talab,

Lucknow- 226004

18,945 189.45

5. Vinodkumar Bajaj &

Company Huf

24-B,Rajabahadur Compound, 1st

Floor,Hamam Street, Fort, Mumbai- 400023

18,945 189.45

6. Ramniwas Bajaj &

Company Huf

24-B,Rajabahadur Compound, 1st

Floor,Hamam Street, Fort, Mumbai- 400023

18,945 189.45

7. Mahendra Kumar

Gupta



Kanjurmarg Stn, Kanjurmarg East, Mumbai-

400042

13,262 132.62

8. Mitren N Thakkar 262 Adi Mansion Dr Cawasji Hormusji Street

Dhobi Talao Mumbai- 400002

11,841 118.41

9. Rameshchandra Shah 22/28, Khetwadi 7th Lane, Hanuman Nivas

First Floor Mumbai- 400004

9,946 99.46


Private Limited

Vaishno Chambers 6,Brabourne Road 5th

Floor Kolkata- 700001

9,516 95.16


debentures - 2010) - ISIN – INE721A07AR4 - Option –III (Reserved Individual Secured )-(Rs. 107.10 crores) of


Sr.

No.

Name of debenture

holder

Address Number of

debentures

Aggregate

Amount

(Rs. in lacs)


138

Sr.

No.

Name of debenture

holder

Address Number of

debentures

Aggregate

Amount

(Rs. in lacs)


Insurance Company

Limited



Mumbai- 400001

72,167 721.67

2. Bajaj Allianz General

Insurance Company

Limited


Securities Services, 3rd Floor C-38/39 G-

Block, BKC Bandra (East) Mumbai – 400051

40,000 400.00

3. Cromatic Suppliers

Private Limited

9/12,Lal Bazar Street Mercantiles Buildings

2nd Floor, 'E'- Block Kolkata- 700001

12,913 129.13

4. Gujarat Alkalies And

Chemicals Limited

Employees Provident

Fund Trust

Gacl P O Petrochemicals Dist Vadodara –

391346

10,000 100.00

5. Akshay Kumar Bhatia G-2,Prime Beach Gandhi Gram Road Juhu,

Mumbai- 400049

6,000 60.00

6. Pronab Kumar Saha A 1/7 Karunamoyee Housing Estate Kolkata-

700091

5,500 55.00


Private Limited

Vaishno Chambers 6,Brabourne Road 5th

Floor Kolkata- 700001

5,000 50.00

8. Jagdish Bapu Salgaonkar Flat No-111, Belmonte Tower, Condomin

Telephone Colony, Nr Magnet Mall, Mogal

Lane, Mahim, Mumbai- 400016

5,000 50.00

9. Anil Poddar 333 Deepali Enclave, Pitam Pura, Delhi-

110034

4,026 40.26

10. Milan Hemraj

Maheshwari

E1 Konark Kinara, Central Avenue Road, No

1, Kalyani Nagar, Pune- 411006

4,000 40.00

18. List of holders of Unsecured Non-Convertible Debentures as on July 6, 2012 issued to public (non convertible

debentures - 2010) - ISIN – INE721A08968 - Option - IV (Other Double Bond Unsecured) (Rs. 0.91 crore) of face



139

Sr.

No.

Name of debenture

holder

Address Number of

debentures

Aggregate

Amount

(Rs. in lacs)

1. Raheja Stock Brokers

Private Limited

521, Rotunda Stock Exchange Bldg 5th Floor,

Dalal Street Fort Mumbai- 400001

5,000 50.00

2. Virendra Navnitlal Stock

Broking Private Limited

527 Rotunda , Mumbai Samachar Marg, Fort,

Mumbai- 400023

2,500 25.00

3. Gladioli Securitries

Private Limited

E- 105 East Of Kailash New Delhi- 110065 500 5.00

4. Pearey Lal And Sons

Private Limited

42 Janpath, New Delhi Delhi- 110001 500 5.00

5. Vsn Fininvest Private

Limited

Sco 24 - 25 Ff Ist Floor Sector 9-D Madhya

Marg, Chandigarh- 160009

500 5.00

6. Subhash Shah And

Associates Architects

Private Limited

Lunat Mansion 2nd Floor,118/120 Mint Back

Road Fort, Mumbai- 400001

100 1.00

19. List of top ten holders of Unsecured Non-Convertible Debentures as on July 6, 2012 issued to public (non

convertible debentures - 2010) - ISIN – INE721A08976 - Option -IV (Unreserved Individual Double Bond

Unsecured) (Rs. 16.87 crores) of face value Rs. 1,000/- per debenture:

Sr.

No.

Name of debenture

holder

Address Number of

debentures

Aggregate

Amount

(Rs. in lacs)

1. Haren Textile Private

Limited



30,000 300.00

2. Nitin Raojibhai Desai C/O Desai Bros Limited Desai House 177/2

Dhole Patil Road Pune- 411001

25,000 250.00

3. Desai Natubhai Haribhai C/O Desai Brothers Limited Desai House F P

No 177/2, Dhole Patil Pune- 411001

22,500 225.00

4. Prisha Sanjay Desai 177/2 Desai House Dhole Patil Road, Pune-

411001

17,000 170.00


140

Sr.

No.

Name of debenture

holder

Address Number of

debentures

Aggregate

Amount

(Rs. in lacs)

5. Kinna Yogesh Patel C/O Desai Bros Limited, Desai House 177/2,

Dhole Patil Road, Pune- 411001

15,500 155.00

6. Meena Nitin Desai C/O Desai Bros Limited, Desai House 177/2,

Dhole Patil Road, Pune- 411001

10,000 100.00

7. Desai Bimalbhai

Natubhai

C/O Desai Brothers Limited Desai House F P

No 177/2, Dhole Patil Road Pune- 411001

10,000 100.00

8. Ajay Upadhyaya Flat No 251, 2nd Floor Udyog Bhavan,

Sonawala Road Goregaon (E) Mumbai-

400063

10,000 100.00

9. Pathik Gandotra Flat No A - 1901, Chitanya Towers A - Wing,

Appa Saheb Marathe Marg Prabhadevi

Mumbai, Maharashtra- 400025

5,000 50.00

10. Manju Jain EC 256 Salt Lake City Kolkata West Bengal-

700064

3,995 39.95


convertible debentures - 2010) -- ISIN – INE721A08984- Option -IV (Reserved Individual Double Bond Unsecured)

(Rs. 37.46 crores) of face value Rs. 1,000/- per debenture:

Sr.

No.

Name of debenture

holder

Address Number of

debentures

Aggregate

Amount

(Rs. in lacs)

1. Kanchan Jain E/9, Common Wealth Bldg., Opp Bund

Garden, Pune- 411001

8,164 81.64

2. Crompton Greaves


No 1

C/O Bajiraodesai/Marathe, Crompton

Greaves Limited, Kanjur Marg East,

Mumbai- 400042

5,508 55.08

3. Gajendra Jain E/9 Common Wealth Bldg, opp. Bundgarden

Road, Pune- 411001

5,305 53.05


141

Sr.

No.

Name of debenture

holder

Address Number of

debentures

Aggregate

Amount

(Rs. in lacs)

4. Abhaya Jain M 108, Greater Kailash II New Delhi -

110048

4,716 47.16

5. Gujarat Alkalies And

Chemicals Limited

Employees Provident

Fund Trust

Gacl P O Petrochemicals Dist Vadodara -

391346

4,675 46.75

6. Mitren N Thakkar 262 Adi Mansion Dr Cawasji Hormusji Street

Dhobi Talao Mumbai- 400002

3,500 35.00

7. Haren textile Private

Limited



3,500 35.00

8. Nirmala Krishnan 17\ 703 Heritage City Gurgaon- 122002 3,392 33.92

9. Sanjay Pranlal Muni 32 Shree Building Juhu Road Santacruz West

Mumbai- 400054

2,648 26.48

10. Dinesh Aggarwal C/Om/S Gupta Traders Main Bazar Nalagarh

Dt.Solan Hp- 174101

2,293 22.93

21. List of holders of Unsecured Non-Convertible Debentures as on July 6, 2012 issued to public (non convertible

debentures - 2010) - ISIN – INE721A08AA8 - Option -V (Others Unsecured) (Rs. 1.103 crores) of face value

Rs. 1,000/- per debenture:

Sr.

No.

Name of debenture

holder

Address Number of

debentures

Aggregate

Amount

(Rs. in lacs)

1. Sunrise Industrial

Traders Limited

503 Commerce House 140 Nagindas Master

Road Fort Mumbai- 400023

5,000 50.00

2. Virendra Navnitlal Stock

Broking Private Limited

527 Rotunda , Mumbai Samachar Marg, Fort,

Mumbai- 400023

5,000 50.00


142

Sr.

No.

Name of debenture

holder

Address Number of

debentures

Aggregate

Amount

(Rs. in lacs)

3. Stanrose Mafatlal Inv

And Fin Limited

Employees Provident

Fund

6th Floor Popular House Ashram Road

Ahmedabad - 380009

400 4.00

4. Stanrose Mafatlal

Investment And Finance

Limited Officers

Provident Fund


Ahmedabad- 380009

400 4.00

5. Stanrose Mafatlal

Investments And

Finance Limited-Officers

Superannuation Scheme


Ahmedabad- 380009

185 1.85

6. Sandeep Holdings

Limited Employees

Gratuity Fund


Ahmedabad- 380009

45 0.45


convertible debentures - 2010) - Option -V (Unreserved Individual Unsecured) - ISIN – INE721A08AB6 (Rs. 2.04


Sr.

No.

Name of debenture

holder

Address Number of

debentures

Aggregate

Amount

(Rs. in lacs)

1. Gopalakrishnan A Iyer 104 Primrose Glendale Gladys Alvares Marg

Off Pokhran Road No 2 Thane West- 400610

5,500 55.00

2. K G Anantharaman 104 Primrose Glendale Gladys Alvares Marg

Off Pokhran Road No 2 Thane West- 400610

2,200 22.00

3. Hiralal Sitaldas Dalal 2 Sital Bhuwan 64 Walkeshwar Road

Mumbai - 400006

2,000 20.00

4. Kamal Ravindra Mehta 10/B Jeevan Asha 60/A Pedder Road Mumbai

- 400026

1,500 15.00


143

Sr.

No.

Name of debenture

holder

Address Number of

debentures

Aggregate

Amount

(Rs. in lacs)

5. Pavan Bajaj 4-A, Nidhi Van Near Nand Gaon Girdhar

Nagar Indore- 452018

1,421 14.21

6. Shilpa Bajaj

Pawankumar

4 A Nidhi Van Near Nandgaon Giridhar

Nagar Indore Madhya Pradesh, - 452018

1,201 12.01

7. Bipin S Mehta V P Banglaw Godrej Colony Nr Gattu

Vidyalaya Ankleshwar- 393002

1,000 10.00

8. Hutoxi Hodiwalla 8d Willingdon View Sane Guruji Marg

Tardeo Mumbai- 400034

1,000 10.00

9. Rahil Kamal Mehta 10/B Jeevan Asha 60/A Pedder Road Mumbai

- 400026

1,000 10.00

10. Neetu Gupta 2801 B Tower Beaumonde Appasaheb

Marathe Marg Prabhadevi Mumbai- 400025

1,000 10.00


convertible debentures - 2010) - Option -V (Reserved Individual Unsecured) - ISIN – INE721A08AC4 (Rs. 24.72


Sr.

No.

Name of debenture

holder

Address Number of

debentures

Aggregate

Amount

(Rs. in lacs)

1. Santkumar Brijmohan

Agarwal

203/4, Unique Tower, Gaiwadi, Off S. V.

Road, Goregaon (West) Mumbai- 400062

6,683 66.83

2. Bharti Telesoft

International Private

Limited Exe P Ftrust

Okhla Industrial Area Phase I New Delhi-

110020

4,000 40.00

3. Arjun Mittal G-5 Model Town Iii Delhi- 110009 3,333 33.33

4. Crompton Greaves


No 1

C/O Bajiraodesai/Marathe Crompton

Greaves Limited Kanjur Marg East Mumbai-

400042

3,000 30.00


144

Sr.

No.

Name of debenture

holder

Address Number of

debentures

Aggregate

Amount

(Rs. in lacs)

5. Hetal Kothari 502 Venus Appartment Behind Pancholi

Hospital Nathpai Nagar Ghatkopar East,

Mumbai- 400077

3,000 30.00

6. Centre For Development

Of Telematics Employees


Mandi Road, Mehrauli New Delhi- 110030 3,000 30.00

7. Jagatjit Cotton Textile

Mills Limited Provident

Fund Trust

305 Rajendra Place 3rd Floor, Rattan Jyoti

New Delhi- 110008

2,500 25.00

8. Manish Chandu Shah Karol, 27 Road, Opp. Revival Clinic Opp.

Stoppers Shop Off. Linking Road, Bandra

(W) Mumbai- 400050

2,000 20.00

9. Msw Employee's


P O Mawana Meerut- 250402 2,000 20.00

10. Mohini Khanna 1/2 Shanti Niketan New Delhi- 110021 1,700 17.00


debentures - 2011) - Option –I (Reserved Individual Secured) - ISIN – INE721A07AV6 (Rs. 534.70 crores) of face


Sr.

No.

Name of debenture

holder

Address Number of

debentures

Aggregate

Amount

(Rs. in lacs)


Insurance Company

Limited



Mumbai- 400001

998,474 9,984.74

2. Idfc Dynamic Bond Fund Deutsche Bank AG DB House, Hazarimal


Mumbai- 400001

534,000 5,340.00


145

Sr.

No.

Name of debenture

holder

Address Number of

debentures

Aggregate

Amount

(Rs. in lacs)

3. Morgan Stanley India

Capital Private Limited

HSBC Securities Services 2nd Floor"Shiv",


Sahar Rd Junct Vile Parle-E, Mumbai-

400057

450,000 4,500.00


Limited A/C High

Interest Fund Short

Term Plan

HDFC Bank Limited, Custody Services

Lodha - I Think Techno Campus Off Flr 8,

Next To Kanjurmarg Stn Kanjurmarg East

Mumbai- 400042

350,000 3,500.00

5. Cholamandalam Ms

General Insurance

Company Limited




Mumbai- 400042

200,000 2,000.00


Insurance Company

Limited Nrsm

Deutsche Bank Ag, Db House Hazarimal

Somani Marg, P.O.Box No. 1142, Fort

Mumbai - 400001

200,000 2,000.00

7. Dsp Blackrock Short

Term Fund

Citibank N A, Custody Services 3rd Flr, Trent


East Mumbai- 400051

150,000 1,500.00


Limited HDFC MF

Monthly Income Plan

Long Term Plan




Mumbai- 400042

150,000 1,500.00

9. IDFC Super Saver

Income Fund- Medium

Term Fund



Mumbai- 400001

145,282 1,452.82


Limited - HDFC Short

Term Plan




Mumbai- 400042

100,000 1,000.00


debentures - 2011) - Option -I (Unreserved Individual Secured) - ISIN – INE721A07AW4 (Rs. 243.14 crores) of



146

Sr.

No.


debentures

Aggregate

Amount

(Rs. in lacs)

1. Morgan Stanley India

Capital Private Limited

HSBC Securities Services 2nd Floor"Shiv",


Sahar Rd Junct Vile Parle-E, Mumbai-

400057

550,000 5,500.00


Insurance Company

Limited



Mumbai- 400001

537,500 5,375.00

3. DSP Blackrock Short Term

Fund

Citibank N A, Custody Services 3rd Flr,

Trent House, G Block, Plot No. 60, BKC,

Bandra - East Mumbai- 400051

250,000 2,500.00

4. ICICI Prudential Balanced

Fund




Mumbai- 400042

100,000 1,000.00

5. ICICI Prudential Short

Term Plan




Mumbai- 400042

100,000 1,000.00

6. Future Generali India Life

Insurance Company

Limited -Shareholders /

Non Unit Linked

Citibank N. A. Custody Services 3rd Flr

Trent House G Block Plot No. 60 BKC

Bandra East Mumbai- 400051

50,000 500.00

7. ICICI Prudential Monthly

Income Plan




Mumbai- 400042

50,000 500.00

8. Leena Gandhi Tewari Deutsche Bank AG DB House, Hazarimal


Mumbai- 400001

50,000 500.00


147

Sr.

No.


debentures

Aggregate

Amount

(Rs. in lacs)


Insurance Company

Limited Nrsm

Deutsche Bank Ag, Db House Hazarimal

Somani Marg, P.O.Box No. 1142, Fort

Mumbai - 400001

50,000 500.00


Limited HDFC MF

Monthly Income Plan Long

Term Plan




Mumbai- 400042

46,295 462.95

26. List of top ten holders of Secured Non-Convertible Debentures as on July 6 2012 issued to public (non convertible

debentures - 2011) - Option -I ( Others Secured) - ISIN – INE721A07AX2 (Rs. 73.40 crores) of face value Rs.


Sr.

No.


debentures

Aggregate

Amount

(Rs. in lacs)


Limited HDFC MF


Term Plan




Mumbai- 400042

250,000 2,500.00


Insurance Company

Limited



Mumbai- 400001

250,000 2,500.00

3. United India Insurance

Company Limited

Employees Gratuity Fund


24 White Road Chennai - 600014

56,326 563.26

4. Seabird Marine Services

Private Limited

Plot No 70-81 Sector - 1, Dronagiri Tal

Uran Dist Raigad- 410206

10,000 100.00

5. Rkm Provident Fund Po Belur Math Dist Howrah West Bengal-

711202

10,000 100.00

6. Alembic Pharmaceuticals


Alembic Pharmaceuticals Limited Alembic

Road Vadudara- 390003

10,000 100.00


148

Sr.

No.


debentures

Aggregate

Amount

(Rs. in lacs)

7. Cybage Software Private

Limited

25/A-1 West Avenue Kalyani Nagar Pune-

411006

10,000 100.00

8. M/s. Universal Subcription

Agency Private Limited

877, Phase V Udyog Vihar Gurgaon,

Haryana - 122001

10,000 100.00

9. Global Information

Systems Technology

Privatelimited

877, Udyog Vihar Phase - V Gurgaon-

122016

10,000 100.00

10.

A R Chadha And Co India

Private Limited

Office No.8, 1st Floor Atma Ram Mansion

Scindia House Connaught Circus New

Delhi- 110001

10,000 100.00

27. List of top ten holders of Secured Non-Convertible Debentures as on July 6, 2012 issued to public (non

convertible debentures - 2011) - Option -II (Reserved Individual Secured) - ISIN – INE721A07AY0 (Rs. 34.62


Sr.

No.


debentures

Aggregate

Amount

(Rs. in lacs)

1. Sharad Sushilkumar

Agrawal HUF

A, 17/18, 4th Floor Monarch Private

Limited J B Nagar, Andheri (East) Mumbai-

400059

1331 13.31

2. Swati Sunil Jatia 24 6 Triveni J B Nagar Andheri (East)

Mumbai- 400059

874 8.74

3. Saryu Padmakant Shah Devashish26,Hatkesh Society, N.S.Road

5,JVPD Scheme, Vileparle (West) Mumbai-

400049

690 6.90

4. Century Management &

Professional Services

Private Limited

117/118, B Wing Dalamal Towers 211,

Nariman Point Mumbai- 400021

683 6.83


149

Sr.

No.


debentures

Aggregate

Amount

(Rs. in lacs)

5. Ashok Sukhlal Bora 38 Mukund Nagar Mukund Nagar Pune-

411037

634 6.34

6. Sushil Kumar Agrawal A17/18 Monarch Chs Lts. 4th Floor, J B

Nagar, Andheri East Mumbai- 400059

574 5.74

7. Bimal Devji Gala Devaji Thokarasi Building 22, M. G. Road,

Jai Laxmi Ghatkopar (West) Mumbai-

400086

559 5.59

8. Samtha Sharad Agrawal A17/18 4th Floor Monarch Chs Limited. J B

Nagar Andheri East Mumbai- 400059

508 5.08

9. Anjali Vijay Dhavale A/11 Tridal Hsg Soc Mithagar Road

Mulund East Mumbai- 400081

500 5.00

10. Damayanti P Desai B-401, Akash-4 Opp.Pawan Party Plot,

Ankur,Naranpura Ahmedabad- 380013

500 5.00


convertible debentures - 2011) - Option -I (Unreserved Individual Secured) - ISIN – INE721A07AZ7 (Rs. 31.73


Sr.

No.


debentures

Aggregate

Amount

(Rs. in lacs)

1. Aishwarya K Rai B 973/2 12th Floor La Mer Mistry Park

Chandiwala Compoun Kadeshwari Mandir

Rd Bandra W Mumbai- 400050

50,000 500.00

2. Lakshmi Old No 28, New No 30 Abm Avenue, Boat

Club R A Puram Chennai- 600028

15,000 150.00

3. N Lakshminarayanan No 8, Royal Enclave Besant Avenue, Next To

Esthell Hotel, Adyar Chennai, Tamil Nadu-

600020

15,000 150.00


150

Sr.

No.


debentures

Aggregate

Amount

(Rs. in lacs)

4. Krishan Lal Madhok M 14 Greater Kailash Ii Market New Delhi-

110048

10,000 100.00

5. Vrinda Krishnaraj Rai 12- La Mer Khandeshwari Road Nr Mount

Mary Steps Bandra (W) Mumbai- 400050

6,000 60.00

6. Urvashi Agarwal A 53/3a DLF Qutub Enclave Phase 1

Gurgaon Haryana- 122002

5,000 50.00

7. Vishwas Subbanna Mulki Chinar Building, 123 / 122 12th Floor R A K

Road, Wadala Mumbai- 400031

5,000 50.00

8. Jaideep Puri 109 Jorbagh New Delhi- 110003 5,000 50.00

9. Nikita Electrotrades

Private Limited

Room No - 757 7th Floor 32 , Ezra Street

Kolkata- 700001

5,000 50.00

10. Ashutosh Maheshvari Belmonte 3rd Floor Mogul Lane Mahim

West Mumbai- 400016

5,000 50.00


convertible debentures - 2011) - Option -II (Others secured) - ISIN – INE721A07BA8 (Rs. 82.40 crores) of face


Sr.

No.


debentures

Aggregate

Amount

(Rs. in lacs)

1. Central Bank Of India Central Bank Of India Treasury

Department, Chandramukhi

Building,Nariman Point, Mumbai- 400021

250,000 2,500.00


Limited HDFC MF


Term Plan




Mumbai- 400042

250,000 2,500.00


151

Sr.

No.


debentures

Aggregate

Amount

(Rs. in lacs)

3. FIL Trustee Company

Private Limited A/C

Fidelity Short Term

Income Fund



Block, BKC Bandra (East) Mumbai -

400051

100,000 1,000.00

4. Sbi General Insurance

Company Limited

HDFC Bank Limited Custody Services

Lodha-I Think Techno Campus Bldg-

Alpha, 8th Floor, Kanjur Marg E Mumbai-

400042

50,000 500.00

5. Tata Trustee Company

Limited A/C Tata Mutual

Fund A/C Tata Fixed

Tenure Fund - Series 2

Scheme A



Block, BKC Bandra (East) Mumbai -

400051

50,000 500.00

6. IDFC Monthly Income

Plan



Mumbai- 400001

48,000 480.00

7. Voltamp Transformers

Limited

Makarpura Vadodara- 390014 10,000 100.00

8. Alufluoride Limited Dno 14 37 20 Anar Centre Opp Nowroji

Road Maharanipeta Visakhapatnam-

530002

10,000 100.00


Limited

Alkem House, Devashish Adjacent To

Matulya Centre Senapti Bapat Marg,

Lower Parel Mumbai- 400013

5,000 50.00

10. Bharatiya Vidya Bhavan Munshi Sadan Dr K M Munshi Marg

Chowpatty Mumbai- 400007

5,000 50.00

30. List of holders of C NEW-Series, Unsecured Non-Convertible Debenture (Rs. 325 Crore) of face valueRs. 10 Lacs

per debenture, as on July 6, 2012.


152

Sr.

No.

Name of holder Address Number of

instrument

Aggregate

Amount (Rs.

in lacs)



A/C Birla Sun Life Dynamic

Bond Fund



Block, BKC Bandra (East) 400051

2250 22,500.00



A/C Birla Sun Life Short

Term Fund




250 2,500.00



A/C Birla Sun Life Fixed

Term Plan - Series Dp




250 2,500.00

4. HSBC Income Fund - Short

Term Plan




200 2,000.00

5. HSBC Mip Savings Plan Standard Chartered Bank, Crescenzo



180 1,800.00

6. HSBC Mip Regular Plan Standard Chartered Bank, Crescenzo



70 700.00

7. HSBC Flexi Debt Fund Standard Chartered Bank, Crescenzo



30 300.00

8. HSBC Income Fund -

Investment Plan




20 200.00

31. List of top ten holders of STFC 2011-12 Series Unsecured Non-Convertible Debenture (Rs. 203.60 crore) of face

value Rs. 10 Lacs per debenture, as on July 6, 2012.

Sr.

No.


instrument

Aggregate

Amount (Rs.

in lacs)




Term Plan - Series Ed


Securities Services, 3rd FloorC-38/39 G-

Block, BKC Bandra (East)Mumbai 400051

437 4,370.00


153

Sr.

No.


instrument

Aggregate

Amount (Rs.

in lacs)




Term Plan - Series Du




428 4,280.00




Term Plan - Series Er




215 2,150.00




Term Plan - Series Ec




173 1,730.00




Term Plan - Series Dw




145 1,450.00

6. DSP Blackrock Dual

Advantage Fund -Series 1-

36M

Citibank N A Custody Services 3rd Flr

Trent House, G Blockplot No 60 Bkc Bandra

Eastmumbai400098

137 1,370.00




Term Plan - Series Ej

Standard Chartered Bank,

Crescenzosecurities Services, 3Rd Floorc-

38/39 G-Block, Bkc Bandra (Eastmumbai

400051

135 1,350.00




Term Plan - Series Dv




122 1,220.00

9. SBI Debt Fund Series-15

Months-9 (Feb-2012)

SBI Mutual Fund191, Maker Tower 'E',

19th Floor opp. Wtc, Cuffe

Parademumbai400005

93 930.00

10. DSP Blackrock Ftp Series 5-

18M

Citibank N A, Custody Services3Rd Flr,

Trent House, G Blockplot No. 60, Bkc,

Bandra - Eastmumbai400098

52 520.00

32. List of top ten holders of Subordinate Debts, D-series non convertible debentures (Rs. 550.97 Crore) of face value

Rs. 1 Lac per debenture, as on July 6, 2012.


154

Sr.

No.


instrument

Aggregate

Amount

(Rs.in lacs)

1. STCI Finance Limited HDFC Bank Limited, Custody Services

Lodha - I Think Techno Campus off Flr 8,

Next To Kanjurmarg Stn, Kanjurmarg,

East Mumbai-400042

3,920 3,920.00

2. Bajaj Allianz Life Insurance

Company Limited

Deutsche Bank Agdb House, Hazarimal

Somani Marg, Post Box No. 1142, Fort

Mumbai-400001

3,500 3,500.00

3. Air- India Employees

Provident Fund

Air India Employees Provident Fund

Account, Old Air Port Santacruz Mumbai -

400029

2,400 2,400.00

4. Bank Of Baroda DGM,Bank Of Baroda Specialized

Integrated Treasury Br.B st,4Th And 5Th

Floor,C-34 G-Block Bandra Kurla

Complex,Mumbai-400051

2,000 2,000.00

5. Bank Of India Treasury Branch,Head Office,Star House,7

th Floorc-5,'G'Block,Bandra Kurla

Complex Bandra(East) Mumbai-400051

2,000 2,000.00

6. Chhattisgarh State

Electricity Board (Cseb)


Shed No 1 Danganiaraipur -492013 2,000 2,000.00


Company Limited. A/C.

Kotak Mahindra Bond Unit

Scheme 99



Mumbai-400001

2,000 2,000.00


Company Limited

24,Whites Road Chennai-600014 2,000 2,000.00

9. Chhattisgarh State

Electricity Board Gratuity

and Pension Fund Trust

C/O FEd Finance Shed No 7 CSEB

Danganiaraipur Chhattisgarh-490001

1,940 1,940.00

10. NPS Trust- A/C Lic Pension

Fund Scheme - Central Govt

C/O LIC Pension Fund Limited

yogakshema, East Wing, 7Th Floor Jeevan

Bima Marg Mumbai-400021

1,927 1,927.00

33. List of top ten holders of Subordinate Debts, E-series non convertible debentures (Rs. 248 Crore) of face value Rs.

1 Lacs per debenture, as on July 6, 2012.


155

Sr.

No.


instrument

Aggregate

Amount (Rs.

in lacs)

1 NPS Trust- A/C SBI Pension


C/O SBI Pension Funds Private Limited No.

32, Maker Chambers - Iii Airman Point

Mumbai-400021

2,400 2,400.00

2 Bank Of India Provident

Fund

Terminal Benefits Div.H.R.Dept,3Rd Flr,

Star House, C-5,'G'Block HOW, B.K.C.

Bandra(E) Mumbai400051

2,000 2,000.00

3 Syndicate Bank F I M Department maker Towers E II Floor

cuffe Parade Colabamumbai400005

2,000 2,000.00

4 United India Insurance

Company Limited

24,Whites Roadchennai600014 2,000 2,000.00

5 Bajaj Allianz Life Insurance

Company Limited


Somani Margpost Box No. 1142, Fort

Mumbai-400001

1,500 1,500.00

6 NPS Trust- A/C Uti

Retirement Solutions Pension


C/O Uti Retirement Solutions Limited.Uti

Tower, Gn Blockbandra Kurla Complex,

Bandra (East)Mumbai400051

1,500 1,500.00

7 Army Group Insurance Fund Agi Bhawanrao Tula Ram Margpb 14, Po

Vasant Viharnew Delhi110057

1,000 1,000.00

8 Bajaj Allianz General

Insurance Company Limited


Securities Services, 3Rd Floorc-38/39 G-

Block, BKC Bandra (East) Mumbai -400051

1,000 1,000.00

9 NPS Trust- A/C Lic Pension


C/O Lic Pension Fund Limited yogakshema,

East Wing, 7Th Floor Jeevan Bima Marg

Mumbai-400021

1,000 1,000.00



Fund Scheme - State Govt

C/O UTI Retirement Solutions Limited.UTI

Tower, Gn - Block Bandra Kurla Complex

Bandra (East), Mumbai-400051

1,000 1,000.00

34. List of top ten holders of Subordinate Debts, D-series non convertible debentures (Rs. 50 Crore) of face value Rs.


Sr.

No.


instrument

Aggregate

Amount

(Rs.in lacs)

1 HVPNL Employees Pension

Fund Trust

Shakti Bhawan, Sector 6 Panchkula-134109 225 2,250.00


156

Sr.

No.


instrument

Aggregate

Amount

(Rs.in lacs)

2 Food Corporation Of India

CPF Trust

Khadya Sadan 13th Floor16 20

Barakhamba Lane New Delhi-110001

100 1,000.00

3 HVPNL Employees


Shakti Bhawan, Sector 6 Panchkula-134109 75 750.00

4 Gas Authority Of India

Limited Employees Provident

Fund Trust

Gas Authority Of India Limited 16 Bhikaiji

Cama Place New Delhi-110066

30 300.00

5 The Jammu And Kashmir

Bank Employees Provident

Fund Trust

Jammu And Kashmir Bank corporate

Officem.A. Roadsrinagar190001

20 200.00

6 GAIL Employees

Superannuation Benefit Fund

Gas Authority Of India Limited 16 Bhikaiji

Cama Place New Delhi-110066

10 100.00

7 Gujarat Alkalies And

Chemicals Limited


Trust

GACLP Petrochemical Dist Vadodara-

391346

10 100.00

8 Everest Industries Limited


Trust

Genesis, A-32Mohan Co Operative

Industrial Estate Mathura Road New Delhi-

110044

6 60.00

9 GAIL (India) Limited

Employees Death-Cum-

Superannuation Gratuity

Scheme

GAIL Bhawan 16, Bhikaji Cama Place R K

Puram,New Delhi-110066

5 50.00

10 Provident Fund Of

Mangalore Refinery And


MRPLLGF, Mercantile House 15,

K.G.Marg, Connaught Place New Delhi-

110001

4 40.00

35. List of holders of Subordinate Debts, C-series non convertible debentures (Rs. 350 Crore) of face value Rs. 10 Lacs


Sr.

No.


instrument

Aggregate

Amount

(Rs.in lacs)

1 UTI - Childrens Career

Balanced Plan



Accounts,UTI Tower, GN Block, Bandra

Kurla Complex, Bandra (East), Mumbai-

400051

1,050 10,500.00


157

Sr.

No.


instrument

Aggregate

Amount

(Rs.in lacs)

2 UTI-Unit Linked Insurance

Plan

UTI AMC Private Limited UTI Tower, Gn

Block Bandra Kurla Complex Bandra

(East) Mumbai-400051

850 8,500.00

3 UTI- Balanced Fund UTI Mutual Fund,UTI Asset Management

Company Limited., Department Of Fund



400051

600 6,000.00

4 UTI - Retirement Benefit

Pension Fund





400051

500 5,000.00

5 UTI-Mis-Advantage Plan UTI AMC Private Limited UTI Tower, Gn



250 2,500.00

6 UTI-Mahila Unit Scheme UTI AMC Private Limited UTI Tower, Gn



200 2,000.00

7 UTI-Unit Scheme For

Charitable And Religious

Trusts And Registered

Societies

UTI AMC Private Limited UTI Tower, Gn



50 500.00

36. List of top ten holders of Subordinate Debts, F-series non convertible debentures (Rs. 400 Crore) of face value Rs.


Sr.

No.


instrument

Aggregate

Amount

(Rs.in lacs)

1 NPS Trust- A/C UTI




Tower, Gn Block Bandra Kurla Complex,

Bandra (East) Mumbai-400051

768 7,680.00

2 ICICI Bank Limited Treasury Middle Office Group 2nd Floor,

North Tower, East Wing ICICI Bank

Tower, BKC Bandra (East) , Mumbai-

400051

750 7,500.00


158

Sr.

No.


instrument

Aggregate

Amount

(Rs.in lacs)

3 Infrastructure Development

Finance Company Limited

C/O Hdfc Bank Limited - Custody

Serviceslodha- I Think Techno Campus,

Bldg -Alpha, 8Th Floor, Nr Railway Station

Kanjur Marg (E), Mumbai-400042

545 5,450.00

4 Tata Capital Financial

Services Limited

One Forbes Dr. V B Gandhi Marg Fort

Mumbai-400001

250 2,500.00

5 United India Insurance

Company Limited

24,Whites Road Chennai-600014 250 2,500.00

6 Bank Of India (Employees)

Pension Fund

Terminal Benefits Div.Hr Dept, 3Rd,

Floor,H.O.Star House, C-5, 'G'

Block,B.K.C. Bandra (E) Mumbai400051

150 1,500.00

7 Board Of Trustees For

Bokaro Steel Employees

Provident Fund

P.F. Account Old Adm. Bldg.,Sail, Bokaro

Steel Plant Bokaro Steel City Bokaro-

827001

150 1,500.00

8 HDFC Ergo General


HDFC Bank Limited, Custody

Serviceslodha - I Think Techno Campusoff

Flr 8, Next To Kanjurmarg Stn

Kanjurmarg East Mumbai-400042

100 1,000.00

9 NPS Trust- A/C Sbi Pension


C/O Sbi Pension Funds Private Limited No.

32, Maker Chambers - Iii Airman Point

Mumbai-400021

100 1,000.00

10 The Nainital Bank Limited Regional Office,33, Panchkuin Road,New

Delhi,110001

100 1,000.00

37. List of top ten holders of Subordinate Debts, K-series non convertible debentures ( Rs. 75 Crore) of face value Rs.


Sr.

No.


instrument

Aggregate

Amount (Rs.

in lacs)

1 Chhattisgarh State

Electricity Board Gratuity

and Pension Fund Trust

C/O Fed Finance Shed No 7 CSEB

Danganiaraipur Chhattisgarh- 490001

200 2,000.00




32, 3Rd Floor maker Chambers - Iii,

Airman Pointmumbai400021

189 1,890.00


159

Sr.

No.


instrument

Aggregate

Amount (Rs.

in lacs)




32, Maker Chambers - Iiinariman

Pointmumbai400021

100 1,000.00



C/O Lic Pension Fund Limited.7th Floor,

East Wing, Yogakshema Airman Point

Mumbai-400021

70 700.00





Mumbai-400021

50 500.00

6 Board Of Trustees For

Bokaro Steel Employees

Provident Fund

Administrative Building Bokaro Steel Plant

S City Jharkhand-827004

30 300.00

7 The Indian Iron And Steel

Company Limited Provident

Institution

Burnpur Works Burnpur-713325 30 300.00


Fund Scheme C - Tier I


32, 3rd Floor Maker Chambers - Iii Airman

Point, Mumbai-400021

28 280.00

9 Akshay Kumar Bhatia

G-2,Prime Beachgandhi Gram Road

Juhu,Mumbai-400049

20 200.00

10 NPS Trust A/C - LIC Pension

Fund Limited - NPS Lite

Scheme - Govt. Pattern



Mumbai-400021

9 90.00

38. List of top ten holders of Subordinate Debts, S-series non convertible debentures (Rs. 150 Crore) of face value of

Rs. 10 Lacs per debenture, as on July 6, 2012.

Sr.

No.


instrument

Aggregate

Amount (Rs.

in lacs)

1 Bank Of India Treasury Branch,Head Office,Star

House,7Th Floorc-5,'G'Block,Bandra Kurla

Complex Bandra(East)Mumbai-400051

300 3,000.00

2 BNP Paribas Bond Fund HSBC Securities Services 2nd Floor, Shiv,

Plot No.139-140 B Western Exp

Highway,Sahar Rd Junct Vile Parle-E

Mumbai-400057

250 2,500.00


160

Sr.

No.


instrument

Aggregate

Amount (Rs.

in lacs)

3 UTI - Monthly Income

Scheme





400051

150 1,500.00

4 BNP Paribas Fixed Term

Fund - Series 22-C

HSBC Securities Services 2nd Floor, Shiv,

Plot No.139-140 B Western Exp

Highway,Sahar Rd Junct Vile Parle-E

Mumbai-400057

110 1,100.00

5 Reliance Capital Trustee

Company Limited -A/C

Reliance Dual Advantage


Deutsche Bank AGDB House Hazarimal

Somani Marg,P.O.Box No. 1142, Fort

Mumbai-400001

107 1,070.00

6 Oriental Bank Of Commerce Plot No.5, Institutional Area,Sector - 32,

Gurgaon,Haryana122001

100 1,000.00



Reliance Fixed Horizon Fund

Xix Series 21



Mumbai-400001

100 1,000.00

8 UCO Bank Treasury Branch UCO Bank Building

Mezzanine Floor 359 Dr D N Road Fort

Mumbai 400001

100 1,000.00


Plan





400051

100 1,000.00




Xx Series 32



Mumbai-400001

90 900.00

39. List of top ten holders of Subordinate Debts, J-series non convertible debentures (Rs. 329.20 Crore) of face value of



161

Sr.

No.


instrument

Aggregate

Amount

(Rs.in lacs)

1 Nederlandse Financierings-

Maatschappij Voor

Ontwikkelingslanden N.V.

(Fmo)




2,250 22,500.00

2 Indian Overseas Bank Treasury (Domestic)Central Office763

Anna Salai Chennai-600002

230 2,300.00





Tower, Gn Block Bandra Kurla Complex,

Bandra (East)Mumbai400051

200 2,000.00

4 Chhattisgarh State Electricity

Board (CSEB) Provident

Fund Trust

Shed No 1Dangania Raipur-492013 180 1,800.00

5 Hooghly District Central Co-

Operative Bank Limited

Netaji Subhas Road P.O. - Chinsurahdist -

Hooghly-712101

100 1,000.00

6 Trustees Hindustan Steel

Limited Contributory

Provident Fund, Rourkela

SAIL Rourkela Rourkela-769001 60 600.00

7 A P S R T C Employees


C\O APSRTC Employees Provident

Fundbus Bhavan (Administrative

Building)Mushirabad,Hyderabad-500020

50 500.00





Tower, Gn - Block Bandra Kurla Complex

Bandra (East), Mumbai-400051

50 500.00

9 Crompton Greaves Limited

Provident Fund No 1

C/O Bajiraodesai/Marathe Crompton

Greaves Limited Kanjur Marg East

Mumbai-400042

34 340.00

10 DB International (Asia)

Limited

Deutsche Bank AGDB House, Hazarimal


Mumbai 400001

20 200.00

40. List of holders of Subordinate Debts, L-series non convertible debentures (Rs. 50 Crore) of face value Rs. 10 Lacs


Sr.

No.


instrument

Aggregate

Amount (Rs.

in lacs)

1. Welspun Corp Limited Welspun City Anjar district Kutch Gujrat-

370110

250 2,500.00


162


Company Limited

24, Whites Road, Chennai - 600 014 250 2,500.00

41. List of holders of C-series non convertible debentures (Rs. 360 crore) of face value Rs. 10 Lacs per debenture, as on

July 6, 2012.

Sr.

No.


instrument

Aggregate

Amount (Rs.

in lacs)

1 Life Insurance Corporation

Of India

Investment Department 6th Floor, West

Wing, Central Office yogakshema, Jeevan

Bima Marg Mumbai-400021

3,000 30,000.00

2 Corporation Bank Corporation Bank, General Account

Investment Division 15 Mittal Chambers

1St Floor Airman Point Mumbai-400021

200 2,000.00

3 General Insurance

Corporation Of India

Suraksha.1 7 0, J. T A T A

Road,Churchgate Mumbai-400020

100 1,000.00

4 Cholamandalam Ms General



lodha-I Think Techno Campus Off Flr8,

Next To Kanjurmarg Rly Station

kanjurmarg East Mumbai-400042

100 1,000.00

5 Corporation Bank Corporation Bank, General

Accountinvestment Division15 Mittal

Chambers 1St Floornariman Point

Mumbai400021

100 1,000.00

6 Rural Postal Life Insurance

Fund A/C Uti Amc





50 500.00

7 Kotak Mahindra Trustee


Kotak Fmp Series 50



Mumbai 400001

50 500.00

42. List of top ten holders of C New series non convertible debentures (Rs. 1447.70 crore) of face value Rs. 10 Lacs per

debenture, as on July 6, 2012.

Sr.

No.


instrument

Aggregate

Amount (Rs.

in lacs)


163

Sr.

No.


instrument

Aggregate

Amount (Rs.

in lacs)

1 Standard Chartered Bank

(Mauritius) Limited -Debt



Block, Bkc Bandra (East)Mumbai -400051

4,150 41,500.00

2 IDFC Super Saver Income

Fund- Short Term



Mumbai 400001

1,070 10,700.00

3 HDFC Trustee Company

Limited HDFC MF Monthly

Income Plan Long Term Plan





900 9,000.00

4 ICICI Prudential Fixed

Maturity Plan Series 57

Three Years Plan C





600 6,000.00

5 DSP Blackrock Money

Manager Fund

Citibank N A, Custody Services3Rd Flr,

Trent House, G Block,Plot No. 60, BKC,

Bandra - East Mumbai-400051

500 5,000.00

6 ICICI Prudential Life




Mumbai 400001

500 5,000.00

7 United Bank Of India The Deputy General Manager UBI

Investment Fund Management Dept Head

Office 4Th Floor 16 Old Court house Street

Kolkata700001

400 4,000.00


Maturity Plan Series 60-

Three Years Plan E


Lodha-I Think Techno Campus Off Flr8,



350 3,500.00


Maturity Plan Series 60-18

Months Plan C





290 2,900.00




Xxi Series 25



Mumbai 400001

270 2,700.00

43. List of top ten holders of STFC NCD 2011 -12 -series non convertible debentures (Rs. 998.90 crore) of face value


164


Sr.

No.


instrument

Aggregate

Amount (Rs.

in lacs)

1 IDFC Super Saver Income

Fund- Short Term



Mumbai 400001

1,139 11,390.00

2 Citicorp Investment Bank

(Singapore) Limited

Citibank N A, Custody Services 3Rd Flr,

Trent House, G Block,Plot No. 60, BKC,

Bandra - East Mumbai-400051

750 7,500.00

3 UTI - Childrens Career

Balanced Plan





400051

700 7,000.00


Plan





400051

700 7,000.00

5 ICICI Securities Primary

Dealership Limited


Mumbai-400020

670 6,700.00

6 JP Morgan India Treasury

Fund

Deutsche Bank AGDB House, Fort Mumbai

400001

500 5,000.00

7 Icici Prudential Fixed


Months Plan I





409 4,090.00



Months Plan B





287 2,870.00

9 ICICI Prudential Regular

Savings Plan





282 2,820.00


Maturity Plan Series 61-

Three Years Plan F





260 2,600.00


165

44. List of holder of STFC DB-Series non convertible debentures (Rs. 500 crore) of face value Rs. 10 Lacs per

debenture, as on July 6, 2012.

Sr.

No.


instrument

Aggregate

Amount (Rs.

in lacs)

1 Deutsche Bank AG C/O Settlements Department 222 Kodak

House Dr. D. N. Road Fort Mumbai

400001

5,000 50,000.00

45. List of holder of CP - Commercial Paper (Rs. 200 crore) of face value Rs. 5Lacs per commercial paper, as on July

6, 2012.

Sr.

No.


instrument

Aggregate

Amount (Rs.

in lacs)

1. SBI Premier Liquid Fund HDFC Bank Limited, Lodha - I Think

Techno Campus, Off Floor 8, Kanjurmarg

(East), 400042

4,000 20,000.00

XIII. Undertaking to use a common transfer form

The NCD will be issued in dematerialized form only. However, in case of dematerialization of NCD and transfer

thereof, the Company would use a common transfer form.

XIV. Redemption amount, period of maturity, yield on redemption

Particulars Debentures

Nature of Debt Secured Non-Convertible Debentures

Face Value Rs. 10,00,000/- (Rupees Ten Lakhs Only)

Issue Price At Discount Rs. 10,00,000/- per debenture

Redemption Date 23rd

September 2014, 23rd

March 2015, 23rd

September

2015

Minimum No. of Debenture to be applied for 1

Redemption Amount Rs 2,000,000,000.00 + Green Shoe Rs.2,000,000,000.00.

XV. Terms of Offer or Purchase

Issue of 2000 (Two Thousand Only) + Greenshoe of 2000 (Two Thousand only), Secured, Redeemable Non-


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Convertible Debentures of face value Rs. 10,00,000/- (Rupees Ten Lakhs Only) each at par for cash, aggregating to Rs.

2,000,000,000/- (Rupees Two Hundred Crores only) + Greenshoe of Rs.2,000,000,000/-(Rupees Two Hundred Crores

only) on a private placement basis not open for public subscription. Detailed Term Sheet is provided under Clause

XXIII.

Terms of Issue

Authority for the Issues

The proposed issue of Rated, Secured and Non-convertible NCD is within the borrowing limits of Rs. 45,000 Crores

set out in the resolution passed under Section 293 (1) (d) of the Companies Act, 1956 at the Annual General Meeting

of the Company held on 5th July 2012 and the resolution passed by board of director under Section 292 (1)(b) of the

Companies Act, 1956 at the meeting of the Board of Directors held on 27th October, 2010, authorizing issuance of

Non-convertible debentures up to INR 10,000 Crores and the resolution of Banking and Finance Committee of the

Board of Directors dated 11th May 2011 . The details of the same are available with the Investor Services Cell of the

Company and can be viewed on all working days between 10:00 A.M. and 1:00 P.M.

Form & Denomination

The NCD of the face value of Rs 10,00,000/- each for cash Rs. 2,000,000,000/-+ Greenshoe of Rs.2,000,000,000/- will

be issued in dematerialized form only on private placement basis.

Market Lot

The Market Lot for the Debenture shall be 1 debenture of the face value of Rs. 10,00,000/- (Rupees Ten lakhs only)

or in multiples thereof.

Minimum Application/Minimum Subscription

In terms of clarification issued by SEBI (Ref No. SEBI/MRD/SE/AT/46/2003) on December 22, 2003 minimum

subscription amount will not be applicable for private placement issue.

Debenture Holder(s) not entitled to Member Rights

The Debenture Holder(s) will not be entitled to any of the rights and privileges available to the members of the

Company including right to receive notices of or to attend and vote at General Meetings or to receive Annual Reports

of the Company. If, however, any resolution affecting the rights attached to the Debenture is placed before the

members of the Company, such resolution will first be placed before the Debenture Holder(s) for their consideration.

Variation of Debenture Holder(s) rights

The rights, privileges and conditions attached to the Debenture of each series may be varied, modified or abrogated in

accordance with the Articles of Association of the Company and the Act and with the consent of the respective

category of holders of the Debentures by a Special Resolution (i.e. in relation to each category of Debentures, the

special resolution means the resolution passed by carried by a majority consisting of not less than three-fourths of the

persons voting thereat upon a show of hands or if a poll is demanded by a majority representing not less than three-

fourths in value of the votes cast on such poll) passed at the meeting of the Debenture Holder(s) of the respective

category provided that nothing in such resolution shall be operative against the Company where such resolution

modifies or varies the terms and conditions governing the Debenture if the same are not acceptable to the Company.

Who Can Apply

Only eligible investors who have been addressed through a communication directly by the Company can apply. No


167

person who has not received a direct communication from the Company should apply in this Issue. This offer of

Debenture is made in India to persons/parties resident in India and/or any other eligible investor(s). Any transfer of the

Non-convertible debenture to a person resident outside India subject to the conditions and restrictions contained in the

FEMA (Borrowing or Lending in Rupees) Regulations, 2000, and other applicable statutory and/or regulatory

requirements.

How to apply

All applications for the Debenture must be in the prescribed Application Form and be completed in block letters in

English. Application forms must be accompanied by either a Demand Draft or a Cheque, drawn on the company and

the investor also has an option to make the payment by way of a RTGS Transfer. The details for the RTGS transfer will

be given to investor at the time of payment.

Succession

In the event of the demise of a Registered Debenture holder of the respective category or the first holder in the case of

joint holders, the Company will recognize the executor or administrator of the deceased Debenture holder of the

respective category or the holder of succession certificate or other legal representative of the deceased Debenture

holder as having title to the Non-convertible debenture. The Company shall not be bound to recognize such executor,

administrator or holder of the succession certificate unless such a person obtains probate or letter of administration or

is the holder of succession certificate or other legal representation, as the case may be, from a Court in India having

jurisdiction over the matter and delivers a copy of the same to the Company. The Company may at its absolute

discretion, where it thinks fit, dispense with the production of the probate or letter of administration or succession

certificate or other legal representation, in order to recognize such holder as being entitled to the Non-convertible

debenture standing in the name of the deceased Non-convertible debenture holder of the respective category on

production of sufficient documentary proof or indemnity. In case the Non-convertible Debentures are held by a person

other than an individual, the rights in the Non-convertible debenture of the respective category shall vest with the

successor acquiring interest therein, including a liquidator or such any person appointed as per the applicable laws.

Non-convertible debenture subject to the Debenture Trust Deed etc.

Over and above the aforesaid terms and conditions, the Non-convertible debenture, if any issued under this Information

Memorandum, shall be subject to this Information Memorandum, the relevant Debenture Trust Deed and also be

subject to the provisions of the Memorandum and Articles of Association of the Company.

Right to accept or reject applications

The Company is entitled at its sole and absolute discretion, to accept or reject any application in part or in full, without

assigning any reason. Incomplete Application Forms are liable to be rejected. The full amount of Debenture has to be

submitted along with the Application Form. Also, in case of over subscription, the Company reserves the right to

increase the size of the placement subject to necessary approvals/certifications, and the basis of allotment shall be

decided by the Company.

Interest on Application Money

Interest on the application money (if any) at the applicable coupon rate (or any other rate as may be mutually agreed

upon), will be paid via interest cheques / credit to the allottee‟s bank account. Such interest will be paid for the period

commencing from the date of realization of the cheque(s) / draft(s) up to but excluding the Date of Allotment. The

interest cheques / instruction to credit allottees bank account for interest payable on application money will be

dispatched by Registered Post / Courier / Hand delivery on or before the working day of the Date of Allotment. It is

clarified that interest shall not be paid on invalid and incomplete applications. Tax exemption certificates, if applicable,

in respect of non-deduction of tax at source on interest on application money must be submitted along with the


168

application form.

For applicants whose applications have been rejected or allotted in part, interest on their refundable application money

(if any) will be dispatched within 7 working days of Issue closure and the Company shall ensure adequate funds for the

same. Interest will be computed at applicable rate, on refundable application money from the date of realization of

cheque/draft/ RTGS inflow to the date of dispatch by the Company.

The interest on application money (if any) will be computed on 365 days a year basis.

Allotment Intimation

The Company has already made/ shall make necessary arrangements with the National Securities Depository Ltd. for

the issue of these Non-convertible Debt in Electronic (Dematerialised) Form. The investors holding these Non-

convertible Debentures in the Electronic (Dematerialised) Form will be governed as per the provisions of The

Depository Act, 1996, Securities and Exchange Board of India (Depositories and Participants) Regulations, 1996, rules

notified by NSDL from time to time and other applicable laws and rules notified in respect thereof. Investors should

mention their NSDL Depository Participant‟s name, DP-ID and Beneficiary Account Number at the appropriate place

in the Application Form. The Company shall take reasonable steps to credit the Beneficiary Account of the Allotee(s),

with the NSDL Depository Participant as mentioned in the Application Form, with the number of Non-convertible

debenture allotted. The applicant is responsible for the correctness of its details given in the Application Form vis-à-vis

those with its DP. In case the information is incorrect or insufficient, the Company would not be liable for losses, if

any. The Company shall credit the Letter(s) of Allotment in Electronic Form to the demat account of the investors as

per the details furnished in the Application Form. The Allotment Intimation will be sent to the Allottee(s). This

Allotment Intimation should neither be construed as a Letter(s) of Allotment nor as a credit advice; and hence it is non-

transferable/non-transmittable and not tradable. The Company will dispatch the Allotment Intimation to allottee(s)

within 7 working days of the Date of Allotment and credit the investor(s) Demat account with the investor(s) DP

within 7 working days from Date of Allotment.

After completion of all legal formalities, the securities held by the investor, under the ISIN representing the Letter(s) of

Allotment, shall be converted into Non-convertible debenture as per the procedure laid down by NSDL in this behalf.

The Company shall request the Depository to provide a list of Beneficial Owners as at end of day of the Record date.

This shall be the list, which shall be considered for payment of interest, repayment of principal, etc. as the case may be.

The Company also proposes to make depository arrangement with Central Depository Services (India) Limited

(CDSL) in due course. The allotment process for crediting the Beneficiary Account of the Allottee(s) with the CDSL

Depository Participant will be communicated at such time.

Register of NCD Holder(s)

A register of all Registered Debenture Holder(s) of the debentures, as the case may be containing necessary particulars

will be maintained by the Company at its Registered Office. A copy of the register of all Debenture Holder(s) will also

be maintained by the Company at its Corporate Office.

Transfer / Transmission

The NCDs shall be transferable and transmittable in the same manner and to the same extent and be subject to the

same restrictions and limitations as in case of the equity shares of the Company. Further, any dispute in regard to the

sale, transfer or assignment of any NCD or in respect to any principal/interest claim, shall be settled between the

transferor(s) and the transferee(s), and the Company shall not be liable in this regard in any manner, whatsoever.

The provisions relating to the transfer and transmission in respect of the equity shares as provided in the Articles of


169

Association of the Company shall apply mutatis mutandis to the Debenture.

(a) Debentures held in Electronic (Dematerialised) Form -

NCD held in Electronic form (Dematerialized) Form shall be transferred subject to and in accordance with the rules /

procedures as prescribed by the National Securities Depository Ltd. (NSDL) / Depository Participant of the transferor/

transferee and any other applicable laws and rules notified in respect thereof.

Payment of Interest on Allotted Debenture

Interest on the face value of the Non-convertible debenture outstanding (subject to deduction of Income Tax at the

prescribed rate under the Income Tax Act, 1961 or any statutory modification or re-enactment being in force) shall be

due from the Date of Allotment up to the Redemption Date. The frequency of interest payment will be annually & on

Maturity at the time of issue.

Unless stated otherwise in the respective debenture trust deed, the interest computation shall be on 365 days, on a

financial year basis, on the face value of each Debenture at the coupon rate applicable to the instrument. However, in

case of interest payments (whenever payable) for interest periods falling in a leap year, interest shall be computed on

366 days, on a financial year basis, on the face value of each Debenture at the coupon rate applicable to the instrument.

Please note that if the Date(s) of Allotment is shifted for any reason whatsoever, the interest payment dates may be

shifted, at the discretion of the Company.

Interest warrant(s)/cheque(s)/payorder(s) will be mailed to those Debenture Holder(s) as on the Record Date, provided

to the Company by the Depository. However, in case the list of Beneficial Owner(s) as at Record Date is not available

from the Depository for any reason whatsoever and because of which payment of interest is delayed beyond the

Interest Payment Date, the Company shall pay interest at the last applicable coupon rate on the Interest Due from the

last Interest Payment date up to 1 day prior to actual payment date (both days included). Principal repayment cheques

will be mailed to the holders whose names appear in the Register of Registered Debenture Holder(s)/in the list of

Beneficial Owner(s) provided to the Company by the Depository as on the Record Date. Investors may also request for

payment of interest by way of a RTGS transfer. In such case, the investor will have to request the Company by way of

an application, the format of which is as in Annexure.

In case of dispute of interest claim, the matter should be settled between the transferor(s) and the transferee(s), and not

with the Company. All interest on the Debenture shall cease on the date of re-purchase of the Debenture (if, approved

by RBI) by or on date of redemption on maturity of Debenture, whichever is earlier.

Record Date

The record date for payment of interest or repayment of principal shall be 3 (three) working days prior to the (i) date on

which interest is due and payable, in case of payment of interest; (ii) the date of redemption or early redemption, in

case of redemption of NCDs in whole or in part.

Effect of Holidays

Should the Interest or Principal Payment or Put option date fall on a Saturday, Sunday, Bank Holiday in Mumbai or

any day on which High Value Clearing does not take place in Mumbai, for any reason whatsoever, the next working

day shall be considered as the effective date(s) for that payment or execution of option.

Tax Deduction at Source

Tax as applicable under the Income tax act will be deducted at source. Tax exemption Certificate/Document, under

Section 195(3) or Section 197(1) of the Income Tax Act, 1961, if any, must be lodged at the office of the Company


170

before the Record date. Tax exemption certificate for interest on Application money, if any, should be lodged along

with the Application Form.

Conditions relating to tax exemption, capital adequacy, if any

Not Applicable

Redemption on Maturity of Debenture

Principal payment will be made on the Principal Repayment Date by cheque/pay order to the Beneficial owner(s) as on

the Record Date, as provided to the Company by the Depository. The payment shall be released only after the Non-

convertible debenture have been discharged by the Debenture holder by signing the Discharge Form that shall be sent

to the Debenture holders immediately after the record date and after the consequent extinguishment of the Non-

convertible debenture by the Company through the Depository.

The Company‟s liability towards the Beneficial Owner(s) for any payment or otherwise shall stand extinguished on the

Maturity Date, in all events and upon the Company dispatching the redemption amounts to the Beneficial Owner(s).

Further, the Company shall not be liable to pay any interest, income or compensation of any kind from the Maturity

Date, or the date of redemption / repurchase of the Debenture. However, in case the list of Beneficial Owner(s) as at

Record Date is not available from the Depository, for any reason whatsoever and because of which repayment of

principal is delayed beyond the Principal Payment Date, the Company shall pay interest at the last coupon rate on the

Principal Due from Principal Payment date up to 1 day prior to actual payment date (both days included).

Investors may also request for principal payment by way of a RTGS transfer. In such case, the investor will have to

request the Company by way of an application.

Compliance Officer

The Investor may contact the Company in case of any pre -issue / post-issue related problems such as non receipt of

letters of allotment / Debenture certificates / refund orders / interest cheques.

Security/documentation

In case of delay in execution of debenture trust deed and charge documents/required documents, the company will

refund the subscription with agreed rate of interest or will pay penal interest of 1% over the coupon rate.

Notices

All notices to the Debenture Holder(s) required to be given by the Company shall be deemed to have been given if

published in one English and one regional language daily newspaper, or may, at the sole discretion of the Company,

but without any obligation, be sent to the Debenture Holder(s) at the address stated in the Application Form, or at the

address as notified by the Debenture Holder(s) from time to time. In case of Debenture held in Electronic

(Dematerialised) Form notices will be sent to those whose names appear on the last list of Beneficial Owner(s),

provided to the Company by Depository (ies).

All notices to the Company by the Debenture Holder(s) must be sent by registered post or by hand delivery to the

Company at its Corporate Office or to such person(s) at such address as may be notified by the Company from time to

time.

Non-convertible Debenture to Rank Pari-Passu

Each category of the Debentures shall rank pari passu, inter se, without any preference or priority of one over the other


171

or others of them under its respective category.

Payments at Par

Payment of the principal, all interest and other monies will be made to the Registered Debenture Holder(s)/ Beneficial

Owner(s) and in case of joint holders to the one whose name stands first in the register of Debenture Holder(s) / in the

list of Beneficial Owner(s) provided to the Company by the Depository (NSDL). Such payments shall be made by

cheque or warrant drawn by the Company on its bankers. Interest and the principal amount shall be paid through

instruments payable at par at Ahmadabad, Bangalore, Calcutta, Chennai, Delhi, Hyderabad, Baroda, Mumbai, and

Pune only subject to applicable RBI regulations. Investors not residing in any of the above locations are advised to

indicate their preference of any one location from the above list to receive the redemption / interests warrant payable at

that location otherwise their application is liable to be rejected.

The Company upon request from the investor, as stated above, may make the Interest and Principal payment through

RTGS.

Future Borrowing

The Company shall be entitled to make further issue of debenture and/or raise term loans or raise further funds, in any

manner as deemed fit by the company, from time to time from any persons/banks/financial institutions/body corporate

or any other agency as per the prevailing guidelines/regulations of Reserve Bank of India and other Authorities.

However, until the Debenture for which the Trustees have agreed to act as Trustees, are fully redeemed, the Company

shall not create any mortgage or charge on any of its properties on which security has been created by the Company in

favour of the trustees or the said assets or properties without obtaining prior written approval of the Trustees.

Applications under Power of Attorney

In the case of Applications made under Power of Attorney by companies (to which Section 372A of the Companies

Act, 1956 does not apply), registered societies trusts etc., a certified true copy of the power of attorney or the relevant

authority as the case may be along with the names and specimen signature of all the authorized signatories and /or a

certified copy of Memorandum and Articles of Association /or Bye Laws and / or the Deed of Trust and the certified

true copy of the Board Resolution and the tax exemption certificate/document, if any, must be lodged along with the

submission of the completed Application Form or sent directly to the Company along with a copy of the Application

Form. Further modifications/additions in the power of attorney or authority should be notified to the Company at its

corporate office.

Applications by Commercial Banks

Certified true copies of (i) Letter of Authorization and (ii) specimen signatures of authorized signatories must

accompany the Application.

Applications by Regional Rural Banks

The Applications must be accompanied by certified true copies of (i) Government notification/Certificate of

Incorporation/Memorandum and Articles of Association/ other documents governing the constitution (ii) resolution

authorizing investment and containing operating instructions (iii) specimen signature of authorized signatories (iv) Tax

Exemption certificate for interest on application money, if any and (v) Tax exemption certificate, if any, issued by the

tax authorities under Section 197(1) of the Income Tax Act, 1961 for lower or NIL deduction of tax at source on the

interest income.

Applications by Corporate Bodies & Companies (to which Section 372A of the Companies Act, 1956 does not apply) /

Financial Institutions / Statutory Corporations


172

The Applications must be accompanied by certified true copies of (i) Memorandum, and Articles of Association

Constitution/Bye-Laws (ii) resolution authorizing investment and containing operating instructions (iii) specimen

signatures of authorized signatories (iv) Tax Exemption certificate for interest on Application money, if any and (v)

Tax exemption certificate, if any, issued by the tax authorities under Section 197(1) of the Income Tax Act, 1961 for

lower or NIL deduction of tax at source on the interest income.

Applications by Mutual Funds

The Applications duly filled in shall clearly indicate the name of the concerned scheme for which the application is

being made and must be accompanied by certified true copies of (i) SEBI Registration Certificate (ii) resolution

authorizing investment and containing operating instructions and (iii) specimen signatures of authorized signatories.

Applications by Provident Funds / Super Annuation Funds / Gratuity Funds

The Applications must be accompanied by certified true copies of (i) Trust Deed / Bye-Laws (ii) resolution authorizing

investment and containing operating instructions (iii) specimen signatures of authorized signatories (iv) Original Form

15G, if any, by a person (not being a company or firm) for claiming exemption from deduction of tax at source on the

interest on application money and interest income on Debenture (iv) specimen signatures of authorized signatories (v)

Tax Exemption certificate for interest on Application money, if any and (vi) Tax exemption certificate, if any, issued

by the tax authorities under Section 197(1) of the Income Tax Act, 1961 for lower or NIL deduction of tax at source on

the interest income.

Tax Benefits

There are no specific tax benefits attached to the Non-convertible debenture. Investors are advised to consider the tax

implications of their respective investment in the Non-convertible debenture.

Trustees

M/s IDBI Trusteeship Services Ltd. have agreed to act as the Trustees for and on behalf of the Debenture Holder(s).

The Debenture Holder(s) shall, by signing the Application Form and without any further act or deed, be deemed to

have irrevocably given their consent to the Trustees or any of their agents or authorized officials to do inter-alia all

acts, deeds and things necessary in respect of or relating to the security to be created for securing the Debenture being

offered in the Terms and Conditions of the Private Placement. All the rights and remedies of the Debenture Holder(s)

shall vest in and shall be exercised by the said Trustees without having it referred to the Debenture Holder(s).

Right to Re-Purchase and Re-Issue Debenture (s)

The Company will have the power, as provided for under the Companies Act, 1956, exercisable at its absolute

discretion from time to time to repurchase some or all the Debenture at any time prior to the specified date of maturity

as per the prevailing guidelines/regulations of Reserve Bank of India and other Authorities. This right does not

construe a call option. In the event of the Debenture being bought back, or redeemed before maturity in any

circumstance whatsoever, the Company shall be deemed to always have the right, subject to the provisions of Section

121 of the Companies Act, 1956 to re-issue such Non-convertible debenture either by re-issuing the same Debenture or

by issuing other Non-convertible debenture in their place.

The Company may also, at its discretion and as per the prevailing guidelines/regulations of Reserve Bank of India and

other Authorities at any time purchase Debenture at discount, at par or at premium in the open market. Such Debenture

may, at the option of Company, be cancelled, held or resold at such price and on such terms and conditions as the

Company may deem fit and as permitted by Law.

Loss of Letter(s) of Allotment / Principal and Interest Payment Instruments


173

Loss of Letter(s) of Allotment and/ or Principal Payment Instrument / Interest Payment Instrument should be intimated

to the Company along with the request for issue of a duplicate Letter(s) of Allotment/ Payment Instrument(s). If any

Letter(s) of Allotment Payment Instrument(s) is lost, stolen, or destroyed, then upon production of proof thereof, to the

satisfaction of the Company and upon furnishing such indemnity, as the Company may deem adequate and upon

payment of any expenses incurred by the Company in connection thereof, new Letter(s) of Allotment / Payment

Instrument(s) shall be issued. A fee will be charged by the Company, not exceeding such sum as may be prescribed by

law.

Debentures subject to the Term Sheet, Debenture Trust Deed, etc.

Over and above the aforesaid terms and conditions, the debenture, if any issued under this Information Memorandum,

shall be subject to Debenture Trust Deed prevailing guidelines/regulations of Reserve Bank of India and other

Authorities and also be subject to the provisions of the Memorandum and Articles of Association of the Company.

Governing Law

The NCD are governed by and will be construed in accordance with the Indian Law. The Company and Company‟s

obligations under the debenture shall, at all times, be subject to the directions of Department of Company Affairs,

RBI, SEBI and Stock Exchanges and other applicable regulations from time to time. Applicants, by purchasing the

debenture, agree that the High Court of Judicature at Mumbai shall have exclusive jurisdiction with respect to matters

relating to the Debenture.

Undertaking by the Company

The Company undertakes:

1. The Company shall attend to the complaints received in respect of any issue of NCD pursuant to this

Information Memorandum expeditiously and satisfactorily.

2. All steps for completion of the necessary formalities for listing and commencement of trading at the Stock

Exchange, where the securities are to be listed, are taken within the specified time.

Interpretation

The term “Debentures” wherever used in this Deed shall be read and construed in the manner so as to include the

respective category of Debentures, as the context may require under this Information Memorandum unless otherwise

specifically provided in this this Information Memorandum.

The terms “Debenture holders” or “Holders of Debentures” wherever used in this Information Memorandum shall be

read and construed in the manner so as to include the debenture holders of the respective category), as the context may

require under this Information Memorandum unless otherwise specifically provided in this Information Memorandum.

XVI The discount at which such offer is made and the effective price for the Investor as a

result of such discount.

The Debentures are being issued at par.


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XVII. Debt Equity Ratio prior to and after issue of the debt security

The Debt Equity ratio of the Company as on March 31 2012 (prior to the issue of NCDs aggregating to INR 200.00

crs. + Greenshoe of Rs. 200 crs) stands at 2.96 (where equity is taken as on March 31, 2012). The debt equity ratio

after the issue (calculated on the basis that the Debentures aggregating to INR 200.00 Crores + Greenshoe of Rs.200

Crores have been issued and subscribed to) will be 3.02.

The debt-equity ratio prior to this Issue is based on a total outstanding consolidated debt of Rs.17,72,260.09 lacs and

consolidated shareholder funds amounting to Rs 5,99,231.25 lacs as on March 31, 2012. The debt equity ratio post the

Issue, (assuming subscription of NCDs aggregating to Rs 50.00 Crs) would be 2.97 times, is based on a total

outstanding debt of Rs 18,12,260.09 lacs and shareholders fund of Rs 599,231.30 lacs as on March 31, 2012)

XVIII. Servicing behavior of the existing debt securities on existing debt securities, payment of

due interest on due dates on term loans and debt securities

The Company has discharged all its liabilities in time including all financial liabilities pertaining to existing

debentures/term loans/debt securities and would continue doing so in future as well. The Company has been regular in

payment of interest and principal amounts, as and when due, and has not defaulted in any such payments.

The servicing behavior of both Principal and Interest Payment of Term Loans and NCD/ Sub Debts ranges from

Monthly/ Quarterly/ Half Yearly/ Annually and/or Bullet. The servicing behavior for Interest payment in Cash Credit is

monthly whereas the servicing of Principal is done on demand.

XIX. Permission / Consent from the prior creditors

The Company is not required to obtain any consent from its creditors for the issue of Non Convertible debenture. The

Company has been borrowing in various forms and has offered specific or exclusive security/charge for the said

borowings. Since exclusive charge has been provided to the said creditors, consent is not required.

XX. Name of the Debenture Trustee(s)

IDBI Trusteeship Services Limited

Asian Building,

Ground Floor, 17 R. Kamani Marg,

Ballard Estate, Mumbai – 400 001

IDBI Trusteeship Services Limited vide their letter dated & have given their consent to act as Trustee for the proposed

issue of NCD Debentures.

XXI. Rating Rationale adopted by the rating agencies

The Debentures have been rated “AA+”, by Care 10/10/12. The rating Care AA+ with respect to Debentures indicates

high safety for timely servicing of debt obligation. The same has been attached as Annexure 1.

The rating is not a recommendation to buy, sell or hold securities and investors should take their own decisions. The

rating may be subject to revision or withdrawal at any time by the rating agency on the basis of new information.


175

For rating rationale of the Company, please visit websites of

CARE: www.careratings.com;

XXII. Listing of Debentures/NCDs

The NCD are proposed to be listed on the wholesale debt market segment of the:

Bombay Stock Exchange Limited

Phiroze Jeejeebhoy Towers,

Dalal Street,Fort

Mumbai – 400 001

XIII. Term Sheet

Issuer Shriram Transport Finance Company Limited

Mode of Placement Private Placement

Purpose/Objective The proceeds of the Issue would be utilized for the general business

purposes/activities of the Company

Instrument Structure Secured, Redeemable, Non-Convertible Debentures

Details of Debenture 4000, Debentures having face value of Rs 10,00,000/- each

Issuance in

physical/demat mode

Demat mode

Face value of Debenture Rs 10,00,000/- (Rupees ten Lakhs only)

Principal Amount/Issue

Size

INR 200.00 crores + Greenshoe of INR 200.00 crores

Consideration other

than cash

Not Applicable

Date of Allotment 23rd October 2012

Issued At Par, Premium

or at Discount

At Par, Rs 10,00,000/- each

Effective price for

investor as a result of

such premium/discount

NA

Minimum

Application/Subscription

1

http://www.careratings.com/


176

Interest Rate/Coupon

Rate

10.10% pa

Compounding Not applicable

Spread Compounding Not applicable

Rate reset Not applicable

Rate reset frequency Not applicable

Interest payment frequency

Series - I Series - II Series - III

Annually on 23rd October 2013 and on Maturity ie on 23rd September 2014

Annually on 23rd October 2013, 23rd October 2014 and on maturity ie 23rd March 2015

Annually on 23rd October 2013, 23rd October 2014 and on Maturity 23rd September 2015

Interest on Application

money:

Not applicable

Credit Rating Care AA+

Day Count Convention

for Interest Payment

Actual / Actual

Put/Call Option Not applicable

Put/Call Notice Period Not applicable

Unsecured or Secured Secured

Series Series - I Series – II Series - III

Maturity Date/ Tenor 23rd September 2014 23rd March 2015 23rd September 2015

Redemption Date 23rd September 2014 23rd March 2015 23rd September 2015

Proposed date of Issue 23rd October 2012

Opening Date 23rd October 2012

Closing Date 23rd October 2012

Date of earliest closing

of issue

23rd October 2012

Pay-in Date 23rd October 2012

Deemed Date of

Allotment

23rd October 2012

Issue of Debentures The Issuer will issue the Debentures / Letters of Allotment in

dematerialized form within two business days from the Deemed Date of

Allotment.

Depositories NSDL


177

Listing Would be listed at Bombay Stock Exchange within fifteen working days

from the date of allotment

Trading Only on dematerialized mode

Investor Profile Banks, Mutual Funds, Financial Institutions, Insurance Corporations,

Provident & Pension Funds, Corporate Investors. There is no negative

list of investors.

Trustees M/S IDBI Trusteeship Services Ltd.

Settlement RTGS/ Demand Draft/ Cheque

Security 1. an English mortgage in favour of the Trustees on the property

(admeasuring approx. 8800sq ft) situated at Plot No. 46 Door

No. 61 (Old No.60), 3rd Main Road, Kasturba Gandhi Nagar,

Adyar, Chennai – 600 020 on first pari passu basis with the

existing debenture debenture holders; and

2. a first sole and exclusive hypothecation charge in favor of the

Trustees on the receivables (loan assets) as mutually identified

by the Trustees and the Company with respect to each category

Debentures which shall at all times provide security cover of 1

times of the outstanding amount (principal, interest, other

charges etc.) under the respective category.


179

Annexure 1 – Rating Letters issued by Rating Agencies

Annexure 2 – Terms Sheet

Annexure 3 – Consent Letter from Debenture Trustee

Annexure 4 – Application Form

shriram transport finance company limited memora… · companies act, 1956, registered as a...

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