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ISSUER’

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er and Issue I

Name anCauvery CIN : U45

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RegistereCauvery ManjuntTel : 0821 Tele Fax Email : cn CorporatCauvery Surface WAnandraoFax : 080 Tel: 080 2

of June 4th 2

of The invespre-issue/letter(s) onon-recei

Shri K. DCauvery Surface WBengalurTel : 080 –Shri K. DCauvery Surface WBengaluruTel : 080 –

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Water Data Ceo Circle, Beng22352998

22352997 / 222003.

stors can con/post-issue r

of allotment/ipt of refund o

Devadas, CFONeeravari Ni

Water Data Ceru – 560 009. – 22352997 / 2

Devadas Neeravari Ni

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pital Services Floor, Antriksurba Gandhi M

23739628, 23ara Bank,

re Trustee Depowers, 51, 1st c80-22239186 /www.canarab

oett@canaraba

RAL INFO

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igama LimiteSGC032044

mplex, 4th Stageuru – 570020.

191 oo.com

igama Limiteentre Buildinggaluru – 5600

354900 Emai

ntact the Comrelated prob Bonds certiforder(s), inter

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22354900, Fax

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pt, Executor, Tcross, J.C.Roa 22223170, Fabank.com , ank.com/dt@

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Memorandum

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Annexure -1

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of 47

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-

-

-

0.05

-

5.79

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5. Projec

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6. A brie

6.1. D

SAI

6.2. C

6.3. Ef

Da

allo(For

quend200

200

201(30.0

7. Detai

Nil

8. DetaiNil

9. Detai 9.1. S

S

12T

ct cost and m

nt issue is fordy approved b

ef history of

Details of Sha Share CapitaAuthorized SIssued, Subsc

Changes in it

Date of (AGM

September

Equity Share five years,

ate of otment the last uarter ded on)

NEqSh

03-2004 80,0

06-2007 30,0

4-2015 09.2014)

14,3

ils of any Acq

ils of any Reo

ils of the shar

Share holdingSl. Particul

1 Governm2 KSFC TOTAL

Disclo

means of finan

r financing onby the Gover

the Issuer sin

are Capital as

al Share Capital cribed and pa

ts capital stru

Change - EGM)

r 30, 2014

Capital Hist

No. of quity hares

FaceValue

(in Rs.)

00,500 1000

00,000 1000

38,345 1000

quisition or A

organization

reholding of

g pattern of tlars

ment of Karn

osure Docu(Pr

ncing, in case

ngoing projecnment of Kar

nce its incorp

s on last quar

id Share Cap

ucture as on la

Amount Crore

143.8345

tory of the Co

e e

Issue Price (in Rs.)

Con(Cathetc

0 1000 F800

0 1000 F300

0 1000 F143

Amalgamatio

or Reconstru

the Company

the CompanyTotEqu

nataka 1,10 141,24


e of funding o

cts of Cauverrnataka.

poration givin

rter end:

Am150

ital 124

ast quarter en

( in es)

14,3Karn

ompany as on

nsideration ash, other

han Cash, c) (in Rs.)

NA

For Cash 0,05,00,.000 EFor Cash 0,00,00,000 EFor Cash 3,83,45,000

on in the last 1

uction in the l

y as on the la

y as on last qutal No. of uity Shares 0,00,500 4,83,345 4,83,845

CNNL Serie

confidenti

of new projec

ry Basin Proje

ng details of

mount ( ) as00.000 crore 43.8845 crore

nd on 31-12-2

8,345 shares nataka State F

n last quarter

Nature of Allotment

Issue of Eq. Shares

8

Issue of Eq. Shares

1,

Further Issue

1,

1 year.

last 1 year.

atest quarter e

uarter end (31No. of Shin demat foNil Nil

es - II Bondal)

cts:

ect and other

its following

s on 31.12.201

2014:

Particulars

of 1,000/Financial Cor

r end on 31-12

CuNo. of equity shares

E

80,00,500 80

,10,00,500 11

,24,83,845 12

end:

1.12.2014). hares orm

Total total n88.12%11.88%100.00

d Issue

irrigation pro

g activities:

14

- each issuedporation.

2-2014, for th

umulative Equity Share

Capital (in Rs.)

00,05,00,.000

100,05,00,000

243,88,45,000

Shareholdinno. of equity % % 0%

of 47

ojects

d to

he last

Equity Share

Premium (in Rs.)

Nil

Nil

Nil

ng as % of shares

9.2. L( S

10. Detai 10.1.

Sl. No.

NameDIN N

1

Sri. SiChair06609

2

Sri. MVice –02558

3

Sri. KDirec02315

4.

Sri. P.Direct02278

5. Sri. DIAS/ Direct01070

List of top 1(31.12.2014),

Sl. Name

1 Gover2 Karna

ils regarding

Details of e/ Designation/ NO.

iddaramaiah / rman/ 9424

M.B. Patil/ – Chairman/ 8869

Kaushik Mukherjetor/

5835

.B.Ramamurthy, tor /

8600

D.N. Narasimha R tor/

0476

Disclo

10 holders o

e of the share

rnment of Karataka State Fin

the directors

the current d Age

67

51

ee, IAS 60

IAS/ 59

Raju, 55

osure Docu(Pr

of equity sh

holders

rnataka nancial Corpo

s of the Comp

directors of thAddress

Residential No.206/2, 16tCross, M.C.Layout, Vijayanagar, Bengaluru- 560 040 No.31/1, AkkamahadeCross Road, Bijapur-58610

C-11, Block-7Sector-6, MCHColony, HSR Layout, Bengaluru - 560034 No.25, KrishnGardenia Apartments, 5Main, RMV 2Stage, New BEL Road, Bengaluru-560094. No.222/A, 2nMain, MahalakshmiLayout, Bengaluru-560086


hares of the

ToEqu

oration

pany:

he Company

Office th

Hon'ble ChMinister, GVidhana Soudha, Bengaluru001

evi

01

Hon'ble Mfor Water Resources,Vidhana Soudha, Bengaluru001

7, HS

Chief SecreGOK, VidhSoudha, Bengaluru001

na

5th 2nd

Addl.ChieSecretary WResources DepartmenVikas SoudBengaluru560001.

nd

i

AdditionaSecy. to HonorableGOK VidhSoudha, Bengaluru001

CNNL Serie

confidenti

Company a

otal No. of uity Shares

1,10,00,500 14,83,345

Date oAppoint

hief GOK,

u – 560

28.05.2

Minister

, GOK,

u – 560

28.05.2

etary, hana

u – 560 17.12.2

ef Water nt, dha,

u-

18.09.2

l Chief

e C.M., hana

u – 560

28.05.2

es - II Bondal)

as on the la

No. of shain demat fo

Nil Nil

of intme Details

2013

1. Karn2. Krish3. Karn

2013

1. Karn2. Krish

2013

1. BengLtd. 2.Karna3. Konk4. Krish5. Beng

2014

1. KarnSkill De2. Karn3. Krish4.Karna

2013 1. Karn2. KarnCorpor3. Karn4. Krish5. Jung6. BengCorpor7. Infor

d Issue

atest quarter

ares rm

Total Shareh% of tequity

of Other Directo

nataka Neeravarhna Bhagya Jala Nnataka Power Cor

nataka Neeravarhna Bhagya Jala N

galuru Internatio

ataka Neeravari kan Railway Corhna Bhagya Jala Ngaluru Airport Ra

nataka Vocationaevelopment Corp

nataka Neeravarhna Bhagya Jala Nataka Power Cor

nataka Power Cornataka Power Traration Ltd. nataka Neeravarihna Bhagya Jala Nle Lodges & Reso

galuru Metro Rairation Ld. rmation Technolo

of 47

r end

holding as total no. of y Shares

88.12% 11.88%

orship

i Nigam Ltd. Nigam Ltd. rp. Ltd.

i Nigam Ltd. Nigam Ltd.

nal Airport

Nigam Ltd. rporation Ltd. Nigam Ltd. ail Link Ltd.

al Training & poration Ltd. i Nigam Ltd. Nigam Ltd. rporation Ltd.

rporation Ltd. ansmission i Nigam Ltd. Nigam Ltd. orts ilway

ogy Park Ltd..

6. Sri. I.SDirect01469

7. Sri. B.Direct03497

8 Mr. K06669

9 Mr. B06693

10 Mr.L.02443

11 Mr.C.Direct06716

12. Sri. KMana05119

Note: To thdefaulters.

S.N. Prasad, IAStor/

9651

.G. Gurupada Swtor/

7859

K.Shivashankar/D9365

asavaraj Koti/D3810

Basavaraju/Dire3893

.M.Shivashankartor

6153

K.Jaiprakash / aging Director/ 9822

he best of the k

Disclo

/ 52

wamy/ 53

Director 75

irector 63

ector 73

r/ 75

52

knowledge of

osure Docu(Pr

H.No.C-2, 1st'B' Main RoadBlock-7, HSR Layout, SectoVI, Bengaluru560 034

137, 6th CrossBapuji LayouVijayanagar 2nd Stage, Bengaluru-56040

# 10, 1st MainRoad, 2nd Stage, Hanuman Nagar, Belgaum-19. # 690, Vijayanagar, Stage, 9th Cross, 10th Main Road, Mysore-570 0No. 2, J.P. Nagar, 1st Stage, ‘A’ Block, MysorSouth, Mysor570 002 No.71, MarutHousing Society, Vijayanagar, Bangalore-56040.

Pavanasutha Adjecent to Tuda Office, 1Block, KuvempunagTumkur Tq., Tumkur Dist.

CNNL, names


t d,

or-u-

Principal Secretary tGovt., FinaDepartmenGOK, VidhSoudha, Bengaluru001

s, ut,

60

Secy. To GWRD, VikSoudha, Bengaluru001

n NIL

1st

017

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e re-

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thi

0

NIL

1st

gar

.

Cauvery Neeravari Nigama, 3rd & 4th FlSurface3 WData CentrBuilding, Anandrao Bangalore-

s of above Dire

CNNL Serie

confidenti

to ance nt, hana

u- 560

30.09.2

Govt., as

u – 560

03.05.2

L 19.07.2

L 19.07.2

L 30.08.2

L 20.08.2

loor, Water r

Cricle, -09.

30.09

ectors are not i

es - II Bondal)

2013 1.KarnaCorpor2. KarnDevelo3. Karn4. Krish5. Myso6. KarnCorpor7. KarnInfrastr8. KarnCorpor9. Beng10. Kar11. Ben12. Tad13.Man14. ONLtd. 15. Kar

2011 1. Karn2. Jala S3. KarnDevelo4. KarnDevelo5. Krish

2013

2013

2008

2013

9.2013

in the RBI Defa

d Issue

ataka State Beverration Ltd. nataka Urban Inf

opment & Financnataka Neeravarihna Bhagya Jala Nore Sales Interna

nataka State Roadration nataka State Induructure Dev. Cor

nataka Power Traration Ltd. galuru Metro Rairnataka Power Congaluru Airport Rdadi Port Ltd. ngalore SEZ Ltd

NGC Mangalore P

rnataka Public Lanataka NeeravariSamvardhana Yonataka Renewablopment Ltd nataka Rural Infr

opment Ltd hna Bhagya Jala N

NIL

NIL

NIL

NIL

NIL

ault List and/o

of 47

rages

frastructure e Corporation i Nigam Ltd. Nigam Ltd.

ational Ltd. d Transport

ustrial & rporation Ltd. ansmission

il Corp. Ltd. orp. Ltd. Rail Link Corp.

Petrochemicals

ands corp. Ltd. i Nigam Ltd. ojana Sangh e Energy

rastructure

Nigam Ltd

or ECGC list o

of

10.2. D

Sl. No. N

1. Sr2. Sr3. Sr4. Sr5. Sr6. Sr7. Sr8. Sr9. Sr10. Sr11. Sr12. Sr13. Sr

14. M

15. M

16. M

17. Sr

18. Sr

19. Sr

20. Sr

21. Sr

22. Sr 11. Detai

11.1.

MK

11.2.

MRM

Details of cha

Name

ri. A Sadiq, IAri. H Appajapri. D.V.Sadanari. Jagadish S.ri. Basavaraj Sri. T D Manmri. S N Prasadri. S L Shivaprri. L.V. Nagarri. S.V.Ranganri. Kapil Mohri. D. Satya Mri. K.Jaiprakas

Mr.C.M.ShivasMr. Basavaraj KMr. K.Shivasha

ri. I.S.N. Prasari. D.N. Narasri. P.B.Ramamri. Kaushik Mri. M.B. Patil ri. Siddarama

ils regarding

AuNam

M/s. Khicha Kesavan

Details of

Name

M/s. Ramesha M.Y. & Co.

Disclo

ange in direct

AS ppa anda Gowda . Shettar S. Bommai

mohan d rasad rajan, IAS nath, IAS an, IAS

Murty, IAS sh shankar Koti ankar ad, IAS simha Raju, IA

murthy, IAS Mukherjee, IAS

aiah

the Auditors

uditor of the Cme & Prabhu

change in au

A

Ashraya, #Vilas RoadMohalla, M

osure Docu(Pr

tors since las

Desig

ManaDirec

ChairChairVice-CDirecDirecDirecDirecDirecDirecDirecManaDirecDirecDirecDirec

AS DirecDirec

S DirecVice –Chair

s of the Comp

Company,:

6-FF, First FPoonamalleRoad Signal

uditor since la

Address

# 271, Lakshmd, Devaraja Mysore.


st three years

gnation

aging Directortor

rman rman Chairman tor tor tor tor tor tor tor

aging Directortor tor tor tor tor tor tor – Chairman rman

pany:

AddresFloor, ‘Goldenee high Road, l), Chennai –

ast three year

DateAppoin

mi Sin27.08.

CNNL Serie

confidenti

& upto 31-12

DIN No.

r 02323815026277550296213806366500004856780140548702398193

- 00151624003237990362712801608232

r 05119822067161530669381006669365014696510107047602278600023158350255886906609424

ss n Enclave’, 18 (opp. Taylor 600 001.

rs,

e of ntment

AudC

ce 2011

F.Y

es - II Bondal)

2-2014,

Date of Appointm

5 29.07.2008

5 28.06.200

8 12.08.20110 31.07.20128 30.07.20087 28.06.2008

3 28.06.200819.07.2013

4 24.04.20109 23.10.20098 30.04.20132 31.05.20062 30.09.20133 20.08.2013

0 19.07.2013

5 19.07.2013

30.09.2013

6 28.05.2013

0 18.09.20145 17.12.20139 28.05.20134 28.05.2013

4, s

ditor of the Company

since . 2011-12 & 2012-13

d Issue

ment

DateceasDire

8 30.0408 19.07

1 31.072 28.058 28.058 19.078 19.073 20.08

0 28.099 17.123 30.096 03.023 -- 3 -- 3 -- 3 -- 3 -- 3 -- 4 -- 3 -- 3 -- 3 --

Auditor sin1st April 201

Remar(Appointm

no.)CA.V/C

KARNATCAUNER (

of 47

e of ed as a

ector 4.2013 7.2013 7.2012 5.2013 5.2013 7.2013 7.2013 8.2013 9.2013 2.2013 9.2013 2.2014

nce 13

rks ment ref )

COY/ TAKA, (1)/ 287

12. Detai

12.1. D

V

12.2. D

GK

GKF

12.3. D

S

12.4. L

N

13. The a

on beNil

14. Detai

Nil

15. DetaiDebeNil

16. Detai

loansthe C

The pThere

ils of borrowi

Details of Sec

Lender’s Name

Vijaya Bank

Details of Un

Lender’s Na

Government Karnataka

Government Karnataka (RFund)

Details of NC

Sl. Debenture

Series Nil

List of Top 10Sl. No.

amount of corehalf of whom

ils of Comme

ils of Rest ofntures / Prefe

ils of all defa, debt securiompany, in t

payment of ine has never be

Disclo

ings of the C

cured Loan F

Type of Facility

Term Loan

nsecured Loan

ame Type

of ValuTran

Nof

Road Ter

CDs as on 31-

Tenor (years)

C

Nil

0 Debenture HName of th

N

rporate guaram it has been

ercial Paper

f borrowing erence Shares

ault / s and/orities and othethe past 5 yea

nterest & Prineen any delay

osure Docu(Pr

ompany, as o

Facilities as on

Amount sanctioned

Rs. 100 Cror

n Facilities as

of Facility

e of Assets nsferred to Nigam rm Loan

-12-2014,

Coupon (%)

Amo( cror

Nil Nil

Holders ( as ohe Bondholde

Nil

antee issued n issued.

( if any inclus ) as on 30.09

r delay in payer financial i

ars:

ncipal is bein in servicing i


on the latest q

n 30.09.2014:

PrincipAmoun

outstandre Rs. 100 C

s on 30.09.201

Amounsanctione

Rs. 6075.47 C

Rs. 4.90 Cr

ount in res)

Date oAllotm

Nil

on 31.12.2014er

by the issuer

uding hybrid9.2014

yments or ofindebtedness

ng done in a tinterest and p

CNNL Serie

confidenti

quarter end:

pal nt

ding

RepaDa

ScheCrore March

March(50% e

14:

nt ed

PA

ouCrore Rs. 6

rore Rs.

of ment

Redempion Dat

Nil

4),

r along with

d debt like F

f interest ands including c

timely manneprincipal repay

es - II Bondal)

ayment ate / edule

h 2020 h 2021 each)

Se

comby

Principal Amount

utstanding 6075.47 Crore

0.98 Crore

ptte

Credit Rating u

Nil N

Total amo(Rs.) Nil

the name of

FCCB, Option

d principal ofcorporate gua

er on the respyment in the

d Issue

Security

ecured by moof assets of

mpany & guay Govt. of Kar

RepaymDate / Sch

Nil

In 10 eqannua

installme

Secured / unsecured

S

Nil N

ount

the counter

nally Conver

f any kind of arantee issue

pective due dpast.

of 47

ortgage the

aranteed rnataka

ment hedule

qual al ents

Security

Nil

party

rtible

term ed by

dates.

17. Detai

consipursu

The Cissued

18. Detai

18.1Sl.

1

19. Abrid

Informqualif Kindl

20. Abrid

availaqualif Kindl

21. Any m

(eg. Amaterissue Nil

22. The ndebenand in

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CanarDebeJ.C.RoWebs

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ils of any outderation othe

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CNNL (Compd for consider

ils of Promote1. Details of

Name oShareho

GovernmeKarnataka

dged versionmation (like fications, if a

ly refer Annex

dged versionable) and Sfications, if a

ly refer Annex

material evenAny material rial liabilitie or the invest

names of thnture trustee(n all the subs

Bond trustee o

ra Bank, nture Trusteeoad, Bengalusite: www.can

ra Bank has g33 3420 2014 –

Disclo

tstanding boer than cash,ption:

pany) does nration other th

ers of the Comf promoter hof the olders

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ent of

1

n of AuditeBalance Shee

any.

xure -2 (a), 2

n of Latest Standalone Fany,

xure -2 (a), 2

nt / developmregulatory prs, corporate tors’ decision

he debenture(s) has givensequent perio

of the propos

e Dept, Execuuru – 560 027. narabank.com

given their co– 2015 SVB da

osure Docu(Pr

rrowings tak whether in w

not have any han cash eithe

mpany: olding in theTotal No. of Equity

Shares s

,10,00,500 N

d Consolidaet and Cash F

(b), 2 (c) and

Audited/ LiFinancial In

(b), 2 (c) and

ment or changroceedings agrestructuring

n to invest in

trustee(s) s his consent

odical commu

sed Bond is:

utor, Trustee Tel: 91-080-2

m email : hoe

onsent to act aated 04/03/20


ken / debt secwhole or par

outstanding er at premium

e Company asNo. of

shares in demat form

Nil

ated (wherevFlow stateme

2 (d).

imited Revienformation (

2 (d).

ge having imgainst the Issg event etc) athe debt secu

hall be mento the Issuerunications se

&Taxation S22239186 / 222tt@canaraban

as Debenture015 enclosed h

CNNL Serie

confidenti

curities issuert, (ii) at a pr

borrowing /m or at discoun

s on the latesTotal

shareholdingas % of totalno. of equity

shares 88.12

ver availableent) for at leas

ew Half Ye(like and B

mplications onsuer / promotat the time ourities.

ntioned withr for his appoent to the hold

Section, Bg. S223170, Fax: nk.com/dt@ca

e Trustees vidherewith.

es - II Bondal)

ed where takremium or d

debt securitnt or in pursu

st quarter end

g l y

No. of Shares

pledged

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arly ConsoliBalance Shee

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.E Towers, 5191-080-222338anarabank.co

de their letter

d Issue

ken / issued (iscount, or (i

ties where takuance of an op

d i.e., 31.12.20

d

% of Shapledge

with respto shareowned

Nil

ndalone Finayears and aud

idated (wheet) and aud

als / credit quations resultich may affec

to the effectder regulationsecurities.

1, 1st cross, 849

om

No. FM&SW

of 47

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erever ditors

uality ng in

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23. The d

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M M C

24. If the

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25. Copy

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25 Name clearl

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26. DRR CNNLrequir(Share

detailed ratin) / credit ratine rating agen

M/s. CRISIL LM/s. India RatCredit Rating L

e security is bar intent, a cled payment tor along wit

nditional ands vide Goversed herewith.

etailed Structur

y of the conse

ent letter from

es of all the rly indicating

ecurities are p

creation: L shall creatred under sece Capital and

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ng rationale(sng letter issu

ncies shall be Ltd has assigntings & ReseaLetters are en

backed by a copy of the s structure (prth timelines),

d Irrevocable Grnment Order.

red Payment M

nt letter from

m the Debentu

ecognized sto the designate

proposed to b

te Debenturection 71(4) of

d Debentures)

osure Docu(Pr

s) adopted (nued (not olde disclosed.

ned “Crisil AArch (P) Ltd. (A

nclosed herew

guarantee orsame shall brocedure of i, the shame s

Guarantee byr/ Notificatio

Mechanism, ple

m the Debentu

ure Trustee is

ock exchangeed stock exch

be listed with T

Redemptionf the Compan Rules, 2014.


not older thaer than one m

A-(SO)/ StablA Fitch Group

with.

r letter of cobe disclosed. invocation ofhall be disclo

y Governmenton No. WRD

ease refer to Cr

ure Trustee s

enclosed here

es where the hange.

The Bombay

n Reserve as nies Act, 2013

CNNL Serie

confidenti

an one year omonth on the

le”, p Co.) has ass

omfort or any In case suc

f guarantee aosed in the of

t of Karnataka70 MBI 2014

edit Rating Let

shall be disclo

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debt securiti

Stock Exchan

and when t3 read with R

es - II Bondal)

on the date o date of open

signed “IND A

y other documch document and receipt offer documen

a during the e4. Bengaluru,

tters enclosed

osed.

es are propos

nge Ltd. (BSE)

the CompanyRule 18(7) (a)

d Issue

of opening oning of the is

AA-(SO)(exp

ment / letter does not co

of payment bnt.

entire tenure dated 03/03/

herewith.

sed to be liste

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27. Intere

InTpashprAalwpamavdrapAw

28. Inter

28.1.

28.2.

28.3.

28.4.

28.5.

28.6.

28.7.

UE / INST

est on Applic

nterest at the ax Act, 1961,aid to all the hall be paid frior to the De

Actual/ 365 dallotted applic

will be made taid on rejecte

money / Refuvailable, withraft(s) for inpplication mo

Allotment andwill be dispatc

rest Period/ CInterest for (i.e. 365 dayrate. The first Inas the actuaboth first daThe second 2016 includThe last inredemptionKindly notedownloadenot completbe responsibIn case anyBengaluru, CIR/ IMD/ In case of fiday prior to

Disclo

TRUMEN

cation Money

coupon rate (, or any other accepted/allofrom the date

eemed Date ofays basis (366cations only. Ithrough Refu

ed applicationund will be hin 15 days frnterest on aponey, if any)

d the relative ihed by regist

omputation a each of the i

ys & in case of

nterest paymeal number of date and the la interest perioing both the d

nterest paymen of principal e that all the d from NSDLte or rejectedble for any dey coupon da effective pay DF/ 18/ datednal redemptio

o the date of r

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NT SPECI

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(subject to der statutory motted applicane of realizatiof Allotment. T

6 day basis in In case of rej

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shall be dispainterest warraered post to t

and paymentinterest periof leap year by

ent would be days falling bst date. od is defined dates and so oent would bamount. interest paym

L/ CDSL on rd, payment wielay. te (interest p

yment will bed October 29,on, the intereedemption an

OTHER


IFIC REG

duction of incmodification or

nts on the apon of chequeThe interest ocase of Leap ected applicaRTGS /NEFT

d subscriptiongh RTGS / Nof Allotment

oney (along watched by theant(s) along whe sole/ first

t of interest onods shall be cy 366 days) on

made on Julbetween the D

as the actual non. be made on

ment will be mrecord date. Inill be made th

payment datee succeeding B, 2013. st will be comnd will be pai

R DETA

CNNL Serie

confidenti

GULATIO

come tax undr re-enactmenplication mon(s)/ demand n applicationyear) . Such i

ations / ExceT. No interes

n amount. PayNEFT wherevt. For others, twith Refund e Company w

with the Refun applicant, at

n bonds computed on n the outstand

y 01, 2015. ThDate of Allotm

number of da

the final red

made throughn case the Bahrough Dema

e) falls on anBank workin

mputed on theid along with

AILS

es - II Bondal)

ONS / COV

der the provisnt thereof, as ney for the Bo draft(s)/ RT

n money will bnterest wouldss subscriptiot on applicatyment of Intever valid Bathe interest ch Orders, in

within 15 daynd Order(s), a the sole risk o

Actual/Actuding bond am

he first interesment and June

ays between 0

demption dat

h RTGS/ NEank Particularand Drafts an

ny non–Bankg day as per

e redemption the redempti

d Issue

VENANT

sions of the Inapplicable) wonds. Such in

TGS up to onbe computed d be paid on aon amount, reion money w

erest on applicank Particularheque(s)/ demcase of refun

ys from the Das the case maof the applica

ual day conveount at the co

st period is dee 30, 2015 inclu

01-07-2015 to 3

te along wit

EFT as per thers down loadend CNNL sha

k working da SEBI Circula

amount, up tion amount.

of 47

TS

ncome will be nterest ne day on an all the efund

will be cation rs are mand nd of

Date of ay be, nt.

ention oupon

efined uding

30-06-

th the

e data ed are all not

ays in ar No.

to one

28.8.

IllustratiCompanFace ValIssue DaRedemp

CouponPaymen

Day Cou

Illust

Due Interest

Wedne01,

Friday2

Saturda2

Monda2

Monda2

Wedne01,

Thursda2

Friday2

Saturda2

Sunday,2

Monda2

Monday2

Monday2

As per SEB

ion of Bond Cny lue (per securate/Deemed Dption

n Rate nt with specifi

unt Conventio

tration (Draft

date of t payment

esday, July , 2015 y, July 01, 2016 ay, July 01, 2017 ay, July 02, 2018 ay, July 01, 2019 esday, July , 2020 ay, July 01, 2021 y, July 01, 2022 ay, July 01, 2023 , March 31,

2024

ay, July 01, 2024 y, March 31, 2025 y, March 31, 2025

Disclo

BI Circular No

Cash Flows

rity) Date of Allotm

ied dates

on

t)

No. of days in Coupon period

Pa

92 10

366 10

365 10

366 10

364 10

366 10

365 10

365 10

365 10

-

366 50

- 50

273 50

osure Docu(Pr

o. CIR/ IMD/

C1

ment MRR8Fa3A

Principal amount

C

000000.00 8.

000000.00 8.

000000.00 8.

000000.00 8.

000000.00 8.

000000.00 8.

000000.00 8.

000000.00 8.

000000.00 8.

500000 8.

00000.00 8.

00000.00 8.

00000.00 8.


DF/ 18/ dated

Cauvery Neer10,00,000/- March 31, 201Rs. 5 Lac per bRs. 5 Lac per b8.85% p.a. payFirst Interest allotment and31.03.2025 i.e.Actual / Actu

oupon D

8500% (10

8500% (100

8500% (100

8500% (100

8500% (100

8500% (100

8500% (100

8500% (100

8500% (100

8500%

8500% (100(50

8500%

8500%

CNNL Serie

confidenti

d October 29,

ravari Nigam

15 bond on Marcbond on Marcyable annuallt shall be pad subsequent on final matu

ual

Detailed Calc

00000*8.85%*

00000*8.85%*(

00000*8.85%*(

00000*8.85%*(

00000*8.85%*(

00000*8.85%*(

00000*8.85%*(

00000*8.85%*(

00000*8.85%*(

500000.00

00000*8.85%*00000*8.85%*

500000.00

500000.00

es - II Bondal)

, 2013.

ma Limited

ch 31, 2024 anch 31, 2025 ly aid on 01-07-tly on 1st Juurity

ulation (

*(92/365))

(366/366))

(365/365))

(366/365))

(364/365))

(366/366))

(365/365))

(365/365))

(365/366))

000

*(274/366) *(92/366) 000

000

d Issue

nd

-2015 from thuly every Yea

Amount (in Rupees)

22306.85

88500.00

88500.00

88742.47

88257.53

88500.00

88500.00

88500.00

88500.00

500000.00

77377.05

500000.00

33096.58

of 47

he date of ar and on

Remarks

Leap Year

Leap Year

Due Date falls on a Holiday/

Leap year Leap Year

29. Put/C29.1.

29.2.

30. Issue If anyprodumay dnew iCNNLchequchequ/redeintereduplic

31. Tax DTax asthereocertifiCompfresh certifisubmComp

32. Letter32.1.

32.2.

32.3.

32.4.

Call Option CNNL willallotment; hgiven 30 da

The Bond Hdate of allowould be gi

of duplicate y, Interest /ruction of proodeem adequainterest/redemL not exceedi

ue(s) / Demaue(s) / Demaemption cheqest/redemptiocate shall be g

Deduction at Ss applicable uof will be dicate/ documpany at least

annually anicate/declarat

mitted along wpany to deduc

r(s) of AllotmThe benefi(NSDL)/Cegiven initiaaccount wilsuch credit

Subject to csuch extendakin to a Lethe number

The Bonds provisions oand Participfrom time to

In case theCompany rAllotment.

Disclo

have the righowever noti

ays before the

Holders will htment; howeviven 30 days b

interest / redredemption cof thereof to thate and uponmption chequing such sum

and Draft(s) iand Draft(s) que(s) / Demon cheque(s) governed by t

Source under the Incodeducted at sment must be

30 days befornd/or as antion of non-dwith the appct tax at sourc

ment/Bond Ceciary accoun

entral Deposil credit withill be akin to tin the accoun

completion of ded period asetter of Allotmr of Bonds allo

since issuedof The Depospants) Regulao time and oth

e Company reserves the

osure Docu(Pr

ght of exercisiice to the effe end of 8th yea

have the right ver notice to tbefore the end

demption cheqheque(s) / Dhe satisfaction

n payment of ue (s) / Dem

m as may be pissued in accis/are mutila

mand Draft(s / Demand Dthe provisions

ome Tax Act, source. For e lodged by re the interes

nd when callededuction of tplication formce as may be a

ertificate(s)/Rnt of the invtory Servicesin 2 working the Letter of A

nt will be akin

all statutory s may be appment in the Botted.

d in electronsitory Act, 19ations, 1996, Rher applicable

completed aright to dir


ing the call opect of exercisar from the da

of exercising the effect of ed of 8th year fr

que(s). Demand Drafn of CNNL an any expensemand Draft(s

prescribed by ordance withated or defac), CNNL shaDraft(s) in lis of the Bond

1961, or any seeking TDthe Instrumet payment beed upon for tax at source m. Failure toadvised to it.

efund Order(vestor(s) wit (India) Limidays from thAllotment. O

n to a Bond Ce

formalities wproved by theBeneficiary Ac

nic (demateria996, SecuritiesRules notifiede laws and ru

all required ectly give cr

CNNL Serie

confidenti

ption at the eing the call oate of allotme

the put optioexercising therom the date

ft(s) is lost, snd upon furnies incurred bys) will be issu law on each

h this provisiced, then, upall cancel thieu thereof. T Regulations.

other statutorDS exemption

ent Holders ecoming due the same by on interest on

o comply wi

(s) Issue of Leth National ited (CDSL)/

he Date of Alln completionertificate.

within 60 dayse appropriate ccount of the

alized) form,s and Exchangd by NSDL / ules notified in

formalities fredit for bon

es - II Bondal)

end of 8th yeaoption by thent of the bond

on at the end oe put option bof allotment o

stolen or destishing such iny CNNL in cued. A fee m duplicate intion. If any inpon surrendee same and

The procedur

ry modification/lower rate

at the registand if requir the Compann application ith the above

etter(s) of AllSecurities D Depository Plotment. The

n of the all sta

s from the Da authority(ies investor wou

, will be govge Board of I CDSL / Depn respect ther

for issue of nd Certificate

d Issue

ar from the de CNNL wouds.

of 8th year froby the bondhoof the bonds.

troyed, then ndemnity as Cconnection th

may be chargeterest/ redemnterest/redemer of such in

issue a dupre for issue o

on or re-enact of TDS, reltered office oed, be submi

ny. Tax exem money, shoue shall entitl

lotment epository LiParticipant winitial credit atutory forma

ate of allotmes), the initial uld be replac

verned as peIndia (Deposi

pository Particeof.

Bond Certife instead lett

of 47

ate of uld be

om the olders

upon CNNL hereof, ed by

mption mption nterest plicate of the

tment levant of the tted a

mption uld be le the

mited will be

in the alities,

ent, or credit

ced by

er the itories cipant

ficate, ter of

33. Depo33.1.

33.2.

33.3.

33.4.

33.5.

33.6.

33.7.

33.8.

33.9.

33.10.

ository ArrangThe Compa“Registrars 560027, Telas Registrardepository Depository form. In threquired:

Tripartite ANational Se

Tripartite ACentral DeInvestors caprovisions o

The applicParticipant’

The applicaDepository Issue of Bon

Bonds allottAccount(s)

For subscriappearing inecessarily

The Registrto the appli

If incompleElectronic /incomplete Company.

. The addresDP shall bresponsiblevis those wnot be liablsame can beCDSL, Natproposed to

Disclo

gements any has appo /RTA / R&: (080) 415752rs & Transfer arrangement

Services (Indhis context th

Agreement betecurities Depo

Agreement bepository Servan hold the Bof Depositorie

ant must ha’s (DPs) of NS

ant must nece Participant s nds in Electro

ted to an appwith the DP.

ibing to the in the accoun be in the sam

rars to the Issucant.

ete/ incorrect/ Dematerial application a

s, nominationbe used for for the correc

with his/her De for losses, ie traded onlytional Stock o be listed con

osure Docu(Pr

ointed “M/s. &TA)” Stock 234/35/41329 Agent for thets with Natiodia) Limited (he Company

tween Cauveository Limite

etween Cauvvices (India) Bonds only ines Act, 1996 a

ave at least SDL or CDSL

ssarily fill in ID) appearin

onic/ Demater

plicant will be

Bonds, nament details in th

me sequence as

ue will direct

t details are lized Form

and the same m

n details and all corresponctness of his/

DP. In case thef any. It may

y on the StockExchange of

nnectivity wit


BgSE FinancExchange To

9661, mail: me present Bononal Securitie(CDSL) for iswill sign tw

ry Nigama Lied(NSDL) for

very NigamaLimited (CD

n dematerializas amended fr

one benefici prior to maki

the details (inng in the Apprialized Form

e credited dire

es in the apphe depositorys they appear

tly send non-t

given under in the applmay be held l

other detailsndence with /her demograe informationy be noted thak Exchanges h India Limiteth NSDL and

CNNL Serie

confidenti

cials Limited”owers, 51, 1

manager_rta@bnd Issue. The es Depositorysue and hold

wo tripartite a

imited, M/s. depository op

Limited, M/DSL) for depozed form androm time to tim

iary account ing the applic

ncluding the blication Form

m”.

ectly to the ap

plication formy. In case of jr in the accoun

transferable a

the heading lication form,liable for rejec

s of the applithe applican

aphic details gn is incorrect oat Bonds beinhaving electroed where thCDSL.

es - II Bondal)

” (hereinafter1st Cross, J.Cbfsl.co.in, rtaCompany sh

y Limited (Nding of Bondsagreements a

BgSE Financiption to the in

/s. BgSE Finository option

d deal with thme..

with any ocation.

beneficiary acm under the he

pplicant’s resp

m should be oint holders,

nt details in th

allotment adv

“Details for , it will be ction at the so

icant as registnt. The Appgiven the applor insufficientng issued in eonic connectiv

he Bonds of

d Issue

referred to aC.Road, Bengaa_admin@bfslall make nece

NSDL) and Cs in demateriaas under whe

ials Ltd.(BgFLnvestors.

nancials Ltd. n to the invehe same as pe

of the Depo

ccount numbeeading “Deta

pective Benef

identical to the names shhe depository

vice/ refund o

Issue of Bondeemed to b

ole discretion

tered with hilicant is therlication form t, the Issuer w

electronic formvity with NSDthe Compan

of 47

as the aluru-.co.in, essary entral alized erever

L) and

and estors er the

sitory

er and ils for

ficiary

those hould

y.

orders

nds in be an of the

is/her refore vis-à-would m, the DL or

ny are

33.11.

34. MarkThe mdemaof Bon

35. TradiThe tRs.10,segmewouldexecu

36. ModeBondsthe Nand rudemashoulparticeligibensurinterethe Dtransf

37. RightThe Cpart owith tdate oapplicany intechni• • • •

•

Interest or oof beneficiaClosure DaDepository the paymenthe Depositto the beno.EBI/MRthe Compan

ket Lot market lot w

aterialized formnds.

ing of Bonds trading of B,00,000/- in tent. The mard be permitt

uted on spot b

e of Transfer s shall be tran

NSDL/ CDSL/ules notified

aterialized ford give deliv

cipant. Transfle to do so, w

re that the tranest will be pai

Depository. Inferor(s) and n

t to Accept orCompany reseor in full, witthe refund waof realization cation forms tnterest on thical grounds,

Number of ApplicationBank accouDetails for Circle/WarIn case of apetc. relevanallotted in permitted.

Disclo

other benefitsal owners givate. In case of as on the Rec

nt of interest otory and conveneficiaries,

RD/SE/AT/36ny would be i

will be one m, the odd lo

onds would

the anonymourketable lot wted to trade asis shall be r

of Bonds nsferred subj/ Depository in respect the

rm shall be foery instructio

fer of Bonds twill be governnsfer formalitid/ redempti

n such cases, cot with the Co

Reject Applierves its full, thout assigninarrant, if app of the chequthat are not c

he application including bu Bonds appliens to the extennt details not issue of Bon

rd/District nopplications un

nt documentsfull, the exce

osure Docu(Pr

s would be paven by the Df those Bondscord Date/ Bor other benefveyed to the C

as identifie6/2003/30/0issued and tra

Bond (“Marots will not ar

be permitteus, order driv

would be onesubject to th

required to be

ect to and inParticipant ofereof. The noollowed for trons containinto and from Nned by the thties are complon will be mclaims, if anyompany.

ications unqualified

ng any reasonlicable, to be

ue(s)/demandcomplete in aln money. Apput not restricteed for is less thnt of excess su given;

nds in electroot given; nder Power os not submittess applicatio


aid to those BDepositories ts for which t

Book Closure fits, till such tCompany, whd. Investors9 dated Septeaded only in d

rket Lot”). Sirise either at t

ed in demat ven system o

e bond of facehe standard e reported to t

n accordance wf the transferormal proceduransfer of theng details of NRIs/ OCBs, hen prevailingleted prior toade to the pey, by the tran

and absoluten thereof. The sent. Interestd drafts(s) tillll respects areplication wou

ed to: han the minimubscription rec

onic/ demate

of Attorney byted; In the evon monies of

CNNL Serie

confidenti

Bondholders wto the Compthe beneficial Date, the Comtime that the bhereupon the s may noteember 30, 200dematerialize

ince the Bonthe time of iss

mode only of the stock ee value Rs.10denomination

the stock exch

with the ruleor/ transferee

ure followed fese Bonds hel the buyer’s in case they g guidelines o the Record D

erson, whose nsferee(s) wou

e right to accee rejected appt on applicatiol one day prioe liable to be uld be liable

mum applicatceived , excee

erialized form

y limited comvent, if any Bf such Bonds

es - II Bondal)

whose namesany as on R owner is nompany wouldbeneficial own interest or bee that purs03 issued by Sed form.

nds are beinsuance or at t

in standardexchanges in 0,00,000/-. Alln/ marketab

hange(s).

s/ proceduree and any othfor transfer old in electronDP account seek to hold

of RBI. The trDate. In the abname appearuld need to b

ept or reject aplicants will bon money wior to the daterejected and to be rejecte

tion size; eding the issu

m not given;

mpanies, corpoBond(s) applis will be refu

d Issue

s appear on thecord Date/

ot identified bd keep in abeyner is identifienefits will besuant to cirSEBI, the Bon

ng issued onthe time of tra

d denominatioa separate trl class of inv

ble lot. The t

es as prescribher applicableof securities hnic form. The to his depothe Bonds an

ransferee(s) shbsence of the rs in the recorbe settled wit

any applicatiobe intimated ll be paid froe of allotmentwould not be

ed on one or

ue size;

PAN/GIR an

orate bodies, tied for is/ arunded, as m

of 47

he list Book by the yance ied by e paid rcular nds of

nly in ansfer

on of rading estors trades

ed by e laws eld in seller

ository nd are hould same, rds of th the

on, in along m the t. The e paid more

nd IT

trusts, re not ay be

38. PAN/All apIncomthe GAppli

39. Paym

39.1.

39.2.

39.3.

39.4.

40. Purch

The CDebt be candeem

41. Re-iss

Wher2013 ahad thCompby re-

/ GIR Numbepplicants shou

me Tax Act, 19GIR Number ication Form i

ment on RedemThe paymebeneficiarieBonds heldredemptionappears in discharge omade, the Cwith NSDLtheir rights due dates o

Further the such redemrespect of thshall not bein RTGS / N

RedemptionNSDL / CDrejected, paany delay. payment wdated Octob

On the CoDocument Account as through RTwith respecshall not berejection in

hase and SaleCompany mayMarket in accncelled, held

m fit and as per

sue of Bonds e the Compaand other aphe right to k

pany shall hav-issuing the sa

Disclo

er uld mention 961 and the Inhas been alloin the space p

mption ent of the redes as per the bd in the Demn amount by t the Registerof the liabilityCompany willL /CDSL will including fof redemption

Company wmption. On the

he Bonds, thee responsible fNEFT transfer

n payment wDSL on recoryment will be In case any

will be precedber 29, 2013.

ompany dispto the Regist provided by

TGS / ECS /ct to the oblige responsible RTGS / NEF

of Bonds y, at any timcordance withor reissued armitted by law

any has redeeplicable prov

keep such Bonve and shall bame Bonds or

osure Docu(Pr

their Permanncome Tax Cotted, the fac

provided.

demption amobeneficiary lis

materialized Fthe Company

r of bondholdy of the Compl inform NSDl be adjusted.or payment orn in all events.

will not be liabe Company de liability of tfor loss of Intr etc..

will be made trd date. In cae made throuredemption d

ding Bank wo

patching / trtered addressy the Bond H Direct Credi

gation of the C for loss of inT etc.

e and from tih the applicab

at such a pricew.

emed any sucvisions, the Cnds alive for be deemed alwr by issuing ot


nent Account Circle/ Ward/

ct of such a

ount of the Bst provided bForm shall by on maturityders on the rpany towards

DL/ CDSL and. The companr otherwise s

ble to pay anydispatching/ tthe Companyterest/ Redem

through RTGSase the Bank gh Demand Ddate falling oorking day as

ransferring ths through Re

Holder, as per it, the liabilit

Company as pnstruments in

ime to time, pble laws. Suche and on such

ch Bonds, subompany shal the purpose ways to havether Bonds in

CNNL Serie

confidenti

Number or t/ District. In c

non-allotmen

Bonds will beby the deposibe taken as dy to the registrecord date. s the Bondhod accordinglyny's liability tshall cease an

y interest or ctransferring thy shall stand emption Chequ

S / NEFT as Particulars dDrafts and CNon any non –s per SEBI C

he amount agistered Post the data dow

ty of the Comper this disclon transit, dela

purchase Bonh Bonds mayh terms and c

bject to the prll have and sh of reissue an

e had the pown their place.

es - II Bondal)

the GIR Numcase where nent should be

e made by thitory as on thdischarged ontered BondhoSuch payme

olders. On suy the account oto the Bondh

nd stand extin

compensationhe amount asextinguished ues/ Warrant

per the data down loaded NNL shall not– Bank worki

Circular No. C

as specified t or to the Bownloaded fro

mpany shall sosure documeay in electron

nds at the priy, at the optionconditions as

rovisions of thall be deemnd in exercisi

wer to re-issue

d Issue

mber allotted ueither the PAN mentioned i

he Company the record daten payment o

olders whose ent will be a uch payment of the Bondho

holders towarnguished from

n from the das specified abo and the Comts in transit /

downloaded are incomplet be responsibing days, effeCIR / IMD/ D

in this Disclond holders’

om NSDL / Cstand extinguent. The Comnic transfer, d

ice available in of the Comthe Company

he Companiemed always to

ing such righe such Bonds

of 47

under N nor in the

to the e. The of the name legal being

olders rds all m the

ates of ove in

mpany delay

d from ete or ble for ective

DF/18/

losure Bank CDSL, uished mpany delay/

in the mpany,

y may

es Act o have ht, the either

42. List oThe CRecorprinci

43. SucceIn theholdeBondhBond(execuholdeCourtit thinother in the

Wherhave t

44. SignaSignabe attseal.

45. Nomi

As peprescrinclud

46. BondThe BIf, howthe Co

47. Modi

The rabrogthe oua meeagainthe Bo

of Beneficial OCompany shard Date. This ipal amount, a

ession e event of theers for the timholder, or the(s). The Com

utor or adminier is the holdet in India havinks fit, dispen legal represe

e name of the

e a non-residto be complie

Documentawas acquireDocumentaSuch holdinthrough prRupee.

atures tures should ested by an a

ination Facilier Companiesribed mannerding holders o

holder not a Bondholders wwever, any reompany, such

ification of Rirights, privilegated with theutstanding ameting of the Bst the Compaonds, if the sa

Disclo

Owners ll request theshall be the las the case ma

e demise of thme being, the C

e holder of sumpany shall no

istrator obtainer of successioing jurisdictio

nse with prodentation, in ordeceased Bon

dent Indian beed with:

ary evidence ted by the NRIary proof that ng by the NRoper banking

be made in Euthorized off

ity s Act, 2013, or, a person to of Power of A

Shareholder will not be enesolution affeh resolution w

ights eges, terms ae consent, in wmount of the Bondholders, p

any where sucame are not ac

osure Docu(Pr

e Depository tlist, which shaay be.

he sole/ first Company wiluccession certot be bound ns probate, won certificate on over the m

duction of prorder to recognndholder on p

ecomes entitle

to be submitteI as part of the the NRI is an

RI will be on ag channel an

English and inficial of a Bank

only individua whom his Bo

Attorney cann

ntitled to any ecting the righwill first be pla

and conditionwriting, of thoBonds or withprovided thatch consent orcceptable to th


to provide a lall be conside

holder of thell recognize thtificate or othto recognize

wherever it is n or other lega

matter. The Coobate or letter nize such holdproduction of

ed to the Bon

ed to the Legae legacy left b

n Indian Natioa non-repatriand the payme

n any of the Ik or by a Mag

als applying onds shall veot nominate.

of the rights hts attached toaced before th

ns attached tose holders oh the sanctiont nothing in s

r resolution mhe Company.

CNNL Serie

confidenti

list of Beneficered for paym

e Bond(s) or thhe executor o

her legal represuch executonecessary, or al representat

ompany may, of administrader as being e sufficient doc

nd by way of

acy Cell of theby the deceaseonal or is of Ination basis anents will be

Indian Langugistrate/ Nota

as sole applicst in the even

and privilegeo the Bonds ihe Bondholde

to the Bondsof the Bonds wn accorded pusuch consent

modifies or var

es - II Bondal)

cial Owners ament of intere

he last survivor administratesentative as

or or adminis letter of admtion, as the ca in its absoluteation or succeentitled to thecumentary pr

succession, t

e RBI to the eed holder. ndian origin snd all the paym

made only i

uages. Thumbary Public un

cant/Joint cannt of his death

es available tois placed befoers for their co

may be varwho hold at leursuant to reor resolutionries the terms

d Issue

as at the end est or repaym

vor, in case oftor of the dec having title ttrator, unless

ministration orase may be, fre discretion, wession certifice Bond(s) stanroof or indem

the following

effect that the

shall be submiment will be in Indian Na

b impressionsder his/her o

n nominate, ih. Non-indivi

o the sharehoore the membonsideration.

ried, modifieeast three fouesolution pass

n shall be opes and conditio

of 47

of the ent of

f joint ceased to the s such r such rom a where cate or nding

mnity.

steps

Bond

itted. made

ational

must official

in the iduals

olders. bers of

d or urth of sed at rative ons of

48. FuturThe Cmembother otherwsuffici

49. Notic

All nodeemBondsnewsp“Paymto thetime.

50. Unde

The p 51. Tax B

Bondhsubsc

52. ClosuIn casoversin thibeforeand co

53. Basis Allotmcollec/und

54. DeemThe Dactualcase talso b

55. Buy-bCNNLredeesubjec

re BorrowingsCompany shabers of the Co facilities frowise on its asient Asset Co

ces otices require

med to have bes and/ or if paper. All noment on Redee Company or

erwriting of thpresent issue i

Benefits holders are aription to the

ure of the Bonse the Compubscription, ais document, e the Issue Clonsequently d

of allotmentment will becting banker. Ter-subscriptio

med Date of ADeemed Date l allotment ofthe issue closbe changed (p

back L may buy bm the Bonds ct to regulato

Disclo

s all be entitledompany and m Banks Finssets, withou

overage as me

ed to be giveeen given if spublished in

otices requiredemption” and r to such pers

he issue s not underw

advised to co Bonds after c

nd Issue. pany subscribas mentioned CNNL reserlosure date, edeemed date

t e made on dThe Companyon.

Allotment of Allotmentf Debentures ing date is ch

pre-poned/ po

back the bon at its sole disry provisions

osure Docu(Pr

d from time /or any othe

nancial Institut prior appro

entioned in the

en by the Coent by ordina

n one All Indd to be given “Put/ Call opsons at such a

written

onsider in hisconsulting his

bes the entired in this docurves the rightextend the iss of allotment

ay basis amoy reserves the

t will be withmay take plahanged (pre-postponed) by

nds before mscretion at thes.


to time to mer person(s) autions and /oval of the Boe relevant doc

ompany or byary post/ coudia English d by the Bondhption” shall baddress as ma

s own case rs tax advisor.

e money i.e. ument, much t to close the sue beyond that the sole dis

ongst such ine right to deci

hin 7 workingace on a date oponed/ postp the Company

maturity. Alsoe express requ

CNNL Serie

confidenti

make furtherand to raise f or any othe

ondholders’ Tcuments are m

y the Trusteeurier to the ordaily newspapholder(s), inclbe sent by regiay be notified

regarding the

to the exten before the Is Bond Issue fhe closure dascretion of th

nvestors baseide on the allo

g days from tother than theponed), the Dy at its sole an

o CNNL reseuest of the bo

es - II Bondal)

issue of Bonfurther loans,er person(s) oTrustees or Lemaintained by

es to the Bonriginal sole/ fper and one luding noticeistered post od by the Com

e tax implicat

nt of total issssue closure dfrom further

ate mentionede Company.

ed on the crotment, suita

the date of cloe Deemed Da

Deemed Date nd absolute d

erves the rigond holder in

d Issue

nds to the p, advances oron the securienders as aloy the Compan

ndholders shfirst allottees regional langs referred to u

or by hand dempany from ti

tions in resp

sue size includate, as ment subscriptiond in this docu

redit given bbly, in case of

osure of issueate of Allotme of Allotment

discretion.

ght to prematn exceptional

of 47

public, r such ity or

ong as ny.

hall be of the guage under livery

ime to

ect of

uding tioned n even ument

by the f over

e. The ent. In t may

turely cases,

56. AmenCNNLbondhvalue

57. SplittThe rhandl

58. Who cPersoother repro I.

II.

Abe

58.1.

ndment of thL may amendholders with of the Bonds

ting and Conrequest from led by the R &

can invest: ns who have person canduced to be d

Qualified I Mutua Public Schedu State In Insura

Autho Provid Nation

2005 o Insura

Non Qualif

High n Compa Primar Region Non B Provid Gratui Charit Co-ope Any ot

All investors a

efore investin

ApplicationThe applicaof Associatoperating inin the presctax at sourc

Disclo

e terms of bod the terms othe consent o

s outstanding

solidation the Register& T Agent as

e been addresn apply. Thisdistributed to

Institutional Bal Funds; Financial Insuled Commerndustrial Dev

ance Companority; dent Funds annal Investmenf the Governm

ance funds set

fied Intuitionnet worth Indanies, Bodies ry Urban Co-onal Rural Ban

Banking Finandent Funds & ity Funds andtable and Relierative Societther Investor(

are required tong in this issu

n by Companation must be ion/constitutnstruction 3} cribed form (se on interest i

osure Docu(Pr

onds: of the Bond(sof the bondho out of those p

red Bondholdper procedur

ssed through s Private Pl any other per

Buyers (“QIB

stitutions Specrcial Banks; velopment Conies registere

nd Pension Funt Funds set bment of India t up and mana

nal Buyers (“Ndividuals to w Corporate, fioperative Ban

nks (RRBs) nce Companie Pension Fund

d Superannuagious Trusts, ties & Instituti(s) authorized

o comply witue of Bonds.

ny/ bodies cor accompaniedtion/bye lawSpecimen sig

s) under Incoincome.

APPLI


s) at any timeolders holdingpresent and v

ders for splitres laid down

a communiclacement Offrsons. The bon

Bs”):

cified in Secti

orporations; ed with the

unds with minby resolution published in aged by army

Non-QIBs”): whom this doc

nancial Institunks

es and Residuds with corpu

ation Funds (o Port Trusts ions.

d to invest in t

th the relevan

rporate / finand by certified

ws 2} Resolutignature of auome Tax Rules

ICATION

CNNL Serie

confidenti

e by a resolutg in the aggrevoting.

t/consolidation under the De

ation directlyfer/ Disclosunds are eligib

on 2(72) of th

Insurance

nimum corpu no. F.No.2/3 the Gazette o

y, navy or air

cument is addutions, and St

ary Non Bankus of less thanother than pen

these bonds

nt regulations

ncial institutitrue copies of

ion authorizinuthorized signs, if exemptio

PROCESS

es - II Bondal)

tion passed aegate more th

on of bond cepositories A

y are only eliure Documenble for investm

he Companies

Regulatory a

us of Rs. 25.00 32005-DDII daof India; force of the U

dressed to tatutory Com

king Finance Cn Rs. 25.00 cronsion fund)

/ guidelines

ions & statutf 1} Memoranng investmennatories 4} Reon is sought f

d Issue

at a meeting oan 50% in no

certificates wct, 1996.

gible to applynt should n

ment by:

Act 2013;

and Develop

crore; ated Novemb

Union of India

mpanies

Companies ores

applicable to

ory companiendum and Artnt and contaielevant certificfrom deductio

of 47

of the minal

will be

y. No ot be

pment

ber 23,

a.

them

es ticles ining cates on of

58.2.

58.3.

58.4.

58.5.

ApplicationThe bondsKarnataka feligible invtrust deeds approval ofInvestment Income Taxcertified truauthorizingauthorized Rules, 1962,

ApplicationThe ReservJanuary 19incrementalSector UnNo.DP.BD.3debentures GovernmenBank of Indintroduced guaranteed is introduceeffect from copies of 1} instruction

ApplicationThe Reservehas allowedbonds of PinvestmentsSocieties AcHence, the application certificate oinvestment signatories exemption i

ApplicationThe RBI vidpermitted RThe RBI hassingle expoof Public Seof (I) GoveAssociationand containForm 15 AA

Disclo

n by Charitabs being uncofall with in Seestments for provide for f the charity in bonds wil

x Act, 1961 byue copies of g investment

signatories 5, if exemption

n by Commerve Bank of In94 to all schl deposits of tndertakings. 3221.01.018/9 where paymnt shall carry dia has howev a 2.5% risk by them by ted in the Go financial yea Power of Att3} SEBI regist

n by Co-operae Bank of Ind

d primary co-Public Sector s in the respct and Banksbonds are el must be acco

of in Company and contain4) Relevant cis sought from

n by Regionade Circular N

RRBs to invests, vide circulasure norms wector Undertaernment notifn/ Other docuning operatinA for claiming

osure Docu(Pr

ble/Religiousonditionally ection 20 (a) otrusts, whichinvestment in commissionll qualify as e

y religious /ch1} Trust Dee and contain

5} Relevant cen is sought fro

rcial Banks/ Mndia vide itsheduled comthe previous y

The Rese98 dated Ament of inter zero risk wever, vide Circ weight on Cthe year endinovernment guar 2000-01. Ttorney 2} Resotration certific

ative Banks dia vide its Coperative ban Undertakingpective State should intimigible securitompanied byy /other docuning operatincertificates in m deduction o

al Rural BankNo. RPCD RRt their surpluar no. RPCD(H

would be applakings. The apfication/ Ceruments goverg instructionsg exemption f


Trusts and irrevoca

of the Indian Th are registeren bonds may

ner or other aeligible investharitable trusted/bye laws ning operatinertificates in om deduction

Mutual Fundss Circular DB

mmercial bankyear for inveserve Bank pril 29, 1998

rest and prineight for the

cular No. MPDCentral /Statng March 200uaranteed secThe applicatioolution authocate 4) Specim

Circular No.BRnks to invest tgs provided Co-operative

mate the Regiies for invest

y certified truuments governng instructiothe prescribe

of tax at sourc

ks (RRBs) RB.BC.882/03s non-SLR funH)/04.03.06/licable in resppplications mrtificate of Inrning constitus (iii) Specimfrom deductio

CNNL Serie

confidenti

ably guarantTrust Act, 188ed under the apply to thisappropriate atments under ts. The applic 2} Certificateng instructiothe prescribe

n of tax at sour

s BOD No.DIRks, has withdstments in equ

of India 8 clarified th

ncipal is quar purpose of cDBC 181/07.0e Governmen

00. Further, ancurities of Goon must be aorizing investmmen signature

R.CIR.72/16.2their surplus inter-alia, the Societies Aistrar of Co-otments by priue copies of ning constitutns, 3) Specimd form (s) un

ce on interest

3.05.34/96-97 nds in bonds 98-99 dated N

pect of investmmust be accomncorporation/ution (ii) reso

men signatureson of tax at so

es - II Bondal)

teed by the 82 and hence said Act. Ots issue of bonauthority as clause (6) Se

cation must bee of Registraon 4} Specimed form (s) urce on interes

R: BC.4/13.7.0drawn the cuity shares an has vide

hat investmenrantined by tcapital adequ01. 279 /98-99nt securities n additional rovernment uaccompanied ment and con of authorized

20.00/93-04 dfunds up to 1

hat a provisioAct/Multi Staoperative Sociimary co-ope 1) Governmtions 2} Resolmen signatu

nder Income Tincome.

dated Decem of Public SecNovember 2, 1ments in debe

mpanied by ce/ Memoranduolution authors of authorizeource on inter

d Issue

Governmen are considerether trusts, wnds, subject tothe case may

ection 11 (5) oe accompanie

ation 3)Resolumen signaturunder Income

t income.

05/94 dated eiling of 5 %

nd Bonds of Pue its Circnt in bonds the Central/S

uacy. The Res9 dated 30.10.and in securisk weight of

undertakings by certified

ntaining operad signatories.

dated May 16,10% of deposion exist for ate Co-operaieties of the S

erative banks.ment notificati

lution authoriure of authorTax Rules, 196

mber 13, 1996ctor Undertak1998 clarified

entures and bortified true coum & Articlerizing investmed signatoriesrest income.

of 47

nt of ed as

whose o the y be.

of the ed by ution re of e Tax

25th % of ublic cular

and State serve .1998 rities 20% with true ating

,1994 its in such ative State. The on / izing rized 62, if

6 has kings. d that onds opies es of ment s (iv)

58.6.

As ppartiathe pFunds

Sl. No.

(i)

(ii)

(iii) (iv)

CNNL isPaid up

ApplicationAs per NoGovernmenof the EmplGovernmenCentral Gov

• 15%: uthe Sta

• 30%: uSectionA) of t

• 30%: ucatego

er circular daal modificatioattern of invs and Gratuity

INVESTM

Governmen

Other secuunconditionexcept thos

units of msecurities a

Provided thportfolio atDebt securiCorporate i

Provided thhaving an i

(b) Term Dcommercial

Provided thprofitabilityCapital to Rnot more th₹ 200 crore

(c) Rupee institutionsInternation

Money mar Shares of co

or Nationalthe Securiti

s a “Public SeShare Capita

Disclo

n by Providentification dat

nt of India, in loyees’ Providnt of India invernment direunder categorate Governmunder categorn 4(1) of the Cthe Income Taunder catego

ories ated August

on of this minvestment to by Funds shall

ENT PATTE

nt securities. urities the pnally guarant

se covered unutual funds nd regulated hat the expost any point of ities with maincluding banhat at least 75investment gr

Deposit Receipl banks. hat the schedy for immedRisk Weightehan 2% of thees. Bonds havin

s of the Intnal Finance Corket instrumeompanies on l Stock Exchaies and Excha

ector Companal is held by G

osure Docu(Pr

nt Funds, Supted July 9, 20 exercise of thdent Funds Sc

n the Ministryected funds tory (ii) (b), the

ment for paymry (iii) (a), BoCompanies Aax Act, 1961.

ory (iv), for in

14, 2008 by Mnistry’s Notificbe followed bl be as follows

RN

principal whteed by the C

nder (ii) (a) beset up as de by the Securi

sure to a mutu time.

aturity of not nks and publi5% of the inverade rating fropts of not les

uled commerdiately preceed Assets Rat net advances

ng an outstanternational Borporation anents including which deriva

ange or equityange Board of

ny” within thGovernment o


perannuation003 issued b

he powers concheme, 1952 ay of Labour No invest increme Bonds being

ment of interesonds of ‘Publ

Act; ‘Public Se

nvestment at t

Ministry of Fication No. 5(by Non-Goves, effective fro

hereof and Central Govelow.

edicated fundities and Exchual fund shal

less than thric financial inestment in thiom at least on

ss than one y

rcial banks meding three tio of 9%; havs; having a m

nding maturiBank for Rend the Asian Dg units of monatives are avay linked schemf India.

he meaning ofof Karnataka

CNNL Serie

confidenti

n Funds and Gby Ministry onferred by Suband in SupersNo. S.O. 1398mental accret

g fully and Unst and repaymlic Financial Iector Compan

the discretion

inance, Depa53)/2002-ECBernment Prov

om April 01, 2

interest whernment or an

ds for investmhange Board oll not be more

ree years tenustitutions; is category is ne credit ratinear duration

must meet condyears; main

ving net non‐minimum net w

ity of at leaseconstruction Developmentney market mailable in Bommes of mutua

f the said not.

es - II Bondal)

Gratuity Fundof Labour/ Sb-paragraph (session of the 8 dated the 1tions in these nconditional

ment of princiInstitutions’ anies’ as defin

n of the Trus

artment of EcoB & PR datedvident Funds

2009:

hereon is funy State Gove

ment in Goveof India; e than 5% of

ure issued by

made in instrng agency. issued by sc

ditions of containing a m‐performing aworth of not l

st 3 years iss and Devel Bank.

mutual funds. mbay Stock Eal funds regu

tification as m

d Issue

ds Shram Mantr(1) of Paragra Notification 11th July 199avenues as un

lly Guaranteepal. as specified ued in Section

stees in the a

onomic Affaid January 24, s, Superannu

Peambe

ully and ernment

ernment

the total

up

y Bodies

ruments

heduled

ntinuous minimum

assets of less than

sued by opment,

up

upxchange

ulated by up

more than 51%

of 47

alaya, aph 52 of the 8, the nder: ed by

under 2(36-

above

irs, in 2005,

uation

ercentage mount to e invested pto 55

pto 40

pto 5 pto 15

% of the

The applauthorizisignatori

(However

58.7.

59. Proce

59.1.

59.2.

lications musing investmeies (iv) Recogn

r, investors ar

ApplicationFinance Co

As per CircBank of Indin GovernmIndia has vNBFCs are applicationsAssociationoperating iInsurance CInsurance DIndia, insurGovernmenaccompanieof Attorneyspecimen si (Above detare advisedalong with

edures for sub

This being ahave been Applicationpayable ondesignated minimum obe in favouron applicati

The remittaas per follow

Name of thName of tBranch IFSC CodName of thAccount NAddress o

Contact pe

Disclo

st be accompaent and contnition Certific

re advised to

n by Non Bompanies (RN

cular No. DFCdia, NBFCs anment Guarantvide its Circul required to s must be acc

n (ii) Power instructions (Companies AsDivision, Deprance compannt Securities ed by certifiedy (iii) resolutiignatures of a

tails are as ped to consult t subsequent a

bmitting App

a Private Placaddressed th

n forms, dulyn application collection cenof 5 Bonds andr of “CNNL Sion.

ance can be mwing details:

he Bank the Account e he Beneficiary

Number of the Bank an

erson and Con

osure Docu(Pr

anied by certtaining operacate from Inco

o consult their

Banking FiNBFCs)

C (COC) No. nd RNBFCs ateed Bonds tolar No: DFC.1 maintain liqcompanied byof Attorney

(iv) specimens per Circularpartment of nies are requir or Governmd true copies oion authorizinauthorized sig

er the informtheir Investmamendments

plications:

cement Offer, hrough this y completed, must be denters or to thed in multiplesSERIES - II B

made by way

y

nd Branch

ntract No.


tified true copating instructome Tax Depa

r advisers ab

inance Comp

2/02.04/96-9are required too meet their l121/ED/(G)-

quid assets oy certified tru

(iii) resolutin signatures r No. 32(I)/INEconomic Afred to invest ment Guaraof (I) Memorang investmen

gnatories.

mation availament Advisor

)

Investors whcommunicati together wi

elivered before Lead Arrangs of 1 Bond th

BOND ISSUE

of electronic

Bank of InCNNL SERBangalore BKID00084Cauvery N844920110No.15, VeCross, GanMr. S.K.Va

CNNL Serie

confidenti

pies of (i) Trutions (iii) speartment.

out the appli

panies (NBF

97 dated July o invest, interliquidity requ98 dated Januf 15.00% on

ue copies of (Ion authorizinof authorize

NVT/93 dateffairs, Ministup to 10% of

anteed bondsandum and Ant and contain

able with the rs and refer a

ho are establision directly oith cheque/ re the closin

gers to the Issuhereafter. All E" and crosse

transfer of fu

ndia RIES - II BON Large Corpo449

Neeravari Nig000068

ectra House, ndhi Nagar, Bagle (M) 0720

es - II Bondal)

ust Deed/Byeecimen signa

icability of ab

FCs)/ Residu

24, 1996 issur alia, upto 10uirements. Thuary 31, 1998and from A

I) Memorandung investmened signatoried September

try of Financ their net surps. The appl

Articles of Assning operatin

Company. Happlicable sta

shed/residenonly are eligdemand dra

ng of the issue. Applicatio cheques/demd. The entire

unds through

ND ISSUE orate Branch, G

gama Limited

3rd Floor, 1s

Bangalore – 564895988

d Issue

e laws (ii) resatures of aut

bove notifica

ary Non-Ban

ued by the Re0% of their dephe Reserve Ba8 has specified

April, 26 1999um and Articnt and conta

es. Applicatio 20, 1994 issuce, Governmeplus funds inlications muociation (ii) P

ng instruction

However inveatutory provi

nt in India andgible to applyft for the amue, at any oons should be

mand drafts sh amount is pa

h RTGS mecha

Gandhi Naga

d

t Main Road60 009

of 47

solution thorized

ation)

nking

eserve posits

ank of d that 9. The cles of aining on By ued by ent of n State st be

Power ns (iv)

estors isions

d who y. All mount of the e for a hould

ayable

anism

ar

d, 6th

59.3.

59.4.

59.5.

59.6.

59.7.

59.8.

ApplicationLETTERS inrespects (alosubmitted bdecided bysubscriptionwhich is sitapplication participatinMoney ordresponsibiliwill be issuduly complreturning toForm. As warrants/chof his or happropriatepm every daccount at responsiblerealization Banking RT

Mode of PaThe full facInvestor(s) for the full f

ApplicationA certified along with exemption completed Authority s

Joint AppliApplicationapplicationswill be addApplication

Bank AccouThe applicatheir Bank Ais held. App

SubmissionApplicationwhile the ismentioned

Disclo

ns for the Bonn English andong with all nbefore the la

y the Compann amount bytuated at and form is sub

ng in the cleaders/ postal ity for any ap

ued for the apleted Applicato the applicaa matter o

heques due ther bank accoe place in the day and inves Controlling for delay inof cheques o

TGS hours, d

ayment ce value of thneed to sendface value of t

ns under Powcopy of the P

the names certificate/doapplication fhould also be

ications in thens may be mas, all paymendressed to thn Form.

unt details ant must fill Account numplications with

n of completns, duly compssue under prin the Disclos

osure Docu(Pr

nds must be ind as per the innecessary doc

ast date indicny, at any ofy way of che is a member bmitted. Outsaring process orders will

pplications/ cpplication motion Form wilant the Acknof precaution

to loss/misplaount (i.e. A Application stors are requ

Branch befon transfer of for DDs. In cadate of realiza

he Bonds appd in the Applithe Bonds app

wer of AttornePower of Attoand specimenocument, if aform. Futuree notified with

e case of Indiade in single nts will be mahe applicant

in the relevamber, IFS Code

hout the deta

ed Applicatipleted and a

rivate placemesure Documen


n the prescribenstructions cocuments as decated in the f the designa

eque(s)/dema of the Bankerstation chequ at the designl also not bcheques/ demoney. Howevell acknowledgowledgment

n against poacement, the ccount NumForm. Kindly

uested to ensore the closufunds througase funds aration will be c

plied for is toication Form plied for.

ey or by Authorney and/orn signatures any, must be

e modificationh the Registra

ividuals or joint name

ade out in favwhose name

ant column ine, name and a

ails are liable t

ion Forms accompanied ent of the bonnt.

CNNL Serie

confidenti

ed form (enclontained thereetailed in thisissue time ta

ated collectionand draft(s) drs clearinghou

ue(s)/ Bank dnated clearinbe accepted.

mand drafts loer, the Compge receipt of tSlip at the b

ossible fraudapplicant shober, name of

y note that thure that the f

ure of Bankigh RTGS / Inre received inconsidered as

o be paid aloand the cheq

horized Reprer the relevantof all the aut

e lodged alonns/additions

ar of Issue.

es (not more vor of the firste appears firs

n the applicataddress of theto be rejected.

by cheque/dnd is open, wi

es - II Bondal)

osed) and comein. Applicatios Disclosure Dable or such n centers, accdrawn on anuse located atdraft(s) draw

ng centers wil. The Compost in mail. N

pany’s Arrangthe applicatiobottom of thedulent encashould furnish f the bank ae Closure timfunds are traing hours Cnter Bank Trn to the CNs next day.

ong with the que(s)/ dema

esentatives t authority, athorized signang with the in the Pow

than three). It applicant. Ast at the add

tion form, give bank with w.

demand drafith the COLL

d Issue

mpleted in BLons complete

Document) mu extended timcompanied b

ny Scheduled t a place whe

wn on Bank(sll not be accepany assumeNo separate reger(s) receivinn by stampin

e each Applichment of inthe full partic

and branch) ame for RTGS iansferred to CNNL will nansfers / del

NNL Account

Application Fand draft(s)/

as the case maatories and thsubmission oer of Attorn

In the case ofAll communicadress stated i

ving particulwhom such ac

t must be loLECTING BAN

of 47

LOCK e in all ust be me as by the bank

ere the s) not epted. es no eceipt

ng the ng and cation

nterest culars at the is 4.00 CNNL not be lay in after

Form. RTGS

ay be, he tax of the

ney or

f joint ations in the

ars of ccount

odged, NK as

59.9.

60. Unde

The Capplicrelevaexchasame,

The Ccharg

AcknowledThe Compawill acknoapplicant treceipts wil

ertakings by C

Company undcable, includiant Regulatioange, where t, to upload on

Company undge in favor of t

Disclo

dgements any / Registraowledge the the Acknowlll be issued fo

Company

dertakes thating the Trust

ons/ Act/ Ruthe debt secun the website o

dertakes thatthe Trustees f

osure Docu(Pr

ar and Transfe receipt of edgement sli

or the applicat

t the necessart Deed woulules etc and

urities have bof the Stock E

t permission/or the presen


er Agents recthe applicat

ip at the botttion money

ry documentsd be executethe same woeen listed, w

Exchange.

/ consent frot Bond Issue i

CNNL Serie

confidenti

ceiving the dution by stamtom of each A

s for the creaed within theould be subm

within five wo

om the prior is being obtai

es - II Bondal)

uly completedmping and Application F

ation of the se time frame mitted to the orking days o

charge holdened.

d Issue

d Application returning to

Form. No sep

security, whe prescribed i Designated of execution o

ers for creati

of 47

Form o the parate

erever in the Stock

of the

ion of

61. ISSU

Summ

PartiSecuIssueType

NatuSeniModEligi

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IssueOptioverObje

DetaProcCoupStepRateCoupCoup

CoupCoupDay

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E DETAILS:

mary of Term

iculars urity Name er e of Instrume

ure of Instrumority

de of Issue ible Investors

ing ng of the Inst

e Size ion to retain rsubscription ects of the Issu

ails of the uticeeds pon Rate

p up /Step dowe pon paymentpon payment

pon Type pon Reset Pro Count Basis

rest on Applicault Interest R

Disclo

m Sheet

ent

ment

s

rument

(Amount) ue

ilization of th

wn Coupon

t Frequency t dates

ocess

cation MoneyRate

osure Docu(Pr

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NNL shall alsod conditions sCompanies Aue proceeds.

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arnataka vide0/2014 & W

amount and inantee is uncony the Compan

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Act 2013 / SEB


nt Mechanismrantee by the

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ny pursuant to

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ation No.: Wd 03/03/201e pendency ofand will be in

are redeemed.

neration and

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m the date ohall be suffici

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all other m

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cuted by CNNof Allotmentient complian

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M/s Cauvery, (Trustee) fo

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may be inspecng day, until t

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ng them as R

of 47

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ncipal (TRA) to the

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ast 30 tment

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e shall

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through

held on

vt. Ltd benture

Registrar

TProject Zounder eac

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Name of Z

on (S) zone, M

athy Canal Zo

athy Project Z

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osure Docu(Pr

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Sl. No

1

2

3

4

5

6

7

8

9

10

11

12

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igation compocally complet

cally complet

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5 Contingare not the Finaviii also

6 There arthe termthe imp

7 The comfor Rs.7companThe imascertain

8 Unable year areearlier y

MAJOR AUD

eport 2013-1

AUD

ed Opinion: mpany has no& Loss, there

ent with the Co

mpany is yet toAssets and no (assets) whicby the comp

uential effect ied / adjusted.

are issues reting, physical d on fixed assee expenditur

ment, method to ascertain

nts. (Refer noto). are instances wy Deposits, es other thanly / reconciledon the Financia

gent liabilities f determined &ancial Statemen)

re instances whms of agreemen

act thereof on tmpany has trea74.72 crores tony has been fol

mpact thereof onable. (Refer nto ascertain wh

e duly accountyears accounted

Disclosu

DIT OBSERVA

14

DIT OBSERVA

t prepared & peby the finan

ompanies Act 2

o complete the provision is mch are fully cany as Capitaof depreciatio (refer note 12.1

egarding identcontrol and

ets, their ownere, actual and quantumthe impact

e 11.1-1, 1.3a, 1

where personPerformance

n cash / EMd. We are unabal Statements

for disputed cl& disclosed fulnts cannot be a

herein penalty nt not charged. the Financial S

ated equity receowards TSP &llowing the samon the Financ

note 2017b & 9bhether all the wted & also whed during the cu

ure Docume(Priv

ATIONS AN

ATIONS

presented the sncial statemen

2013. (refer note

process of capimade for dep

created & put al Work in Pron thereon ha1 also)

tification, doctreatment of

ership, cost & date of ca

m of depreciatithereof on th1.3c, 1.4, 1.5, 1.

nal ledgers / Guarantee,

MD etc., are nble to ascertain

laims against tlly. The impacascertained. (R

for delays in p We are unable

Statements. eived from GO& SCP for thme policy for ecial Statementsb also) work bills pertaether any suchurrent year.

ent for CNN

vate and con

ND THE REPL

statement of nts are not e 12.1.1 also)

italization of preciation on to use but rogress. The as not been

cumentation, expenditure treatment of

apitalization, ion. We are he financial .6, 2.2, 2.3, &

records like Deposits /

not updated n the impact

the company ct thereof on Refer note 20

project as per e to ascertain

OK as Grants he year. The earlier years. s cannot be

aining to the h bills for the

NL Series -nfidential)

LIES OF THE

REPL

The Cauveryproject consisNetwork, whMarch 2016 completion ofthe entire prStatement of has preparedduring Consaccordance wof schedule VDuring the Fcompany haswork to set riof work, Assesupplementarvaluation wAccounts as oThe asset regiSupplementarEquipment, PRoads BridgeItem Wise ddepreciation, are reconciledAccounts. The discrepanreference to Registers andsystem. This of the Nigamprepared baseAccounting. The Contingecases has beeCourt Level cthe contingenpending at divAs far as to tfor delay in pcharged. The expenditunder TSP & jurisdiction expenditure ifrom the GoveAs far as to work bills per

- II Bond Is

A

E MANAGEM

LIES OF THE M

y Basin Projesting of Dams, hich is expected

and cost willf the entire proroject, the ComProfit & Loss.

d a Statement struction (Pen

with the disclosVI to the CompaFinancial Year, s created Asseight the observet Cell has comry assets and

were incorporon 31.03.2014. isters in respecry Assets in the

Plant & Machins & Culverts, E

details have be cost, location ad to the Asse

ncies as pointeBalances as p

d the balances discrepancies

ma. However, ed on the balan

ent liabilities paen identified cases only. Nint liabilities pvisions levels. the knowledgeproject as per

ture incurred SCP program of the Nigais set of againernment underthe knowledg

rtaining to the y

ssue

Annexure–2

MENT

MANAGEMEN

ect envisages Canal Systemsd to be complel be capitalize

oject. Till the company does n. Therefore, theof Revenue E

nding Capitalure requiremeanies Act, 1956 as a correctiv

et Cell with thvations. In thempleted updatid discrepanci

rated in the

ct of Assets Cae form of Build

nery, ComputerElectrical Instaleen drawn upand year of edet Head in th

ed out by Audper Manually as per Tally exists since ththe Annual Ac

nces as per Tall

articularly regaabove the Hoigama has not ertain to the

e of the Nigamterms of agree

for the workdoes not comeama. Thernst the amour TSP & SCP he

ge of the Nigayear are dully

2 (d)

NT

the entire s and Canal eted by 31st ed only on

ompletion of not prepare e Company Expenditure lization) in nt of Part II .

ve measure, he scope of e first phase ing value of ies in the

e Financial

apitalized as dings, Office rs, Vehicles, llations etc., p including dition which he Books of

dit are with maintained Accounting

he inception ccounts has ly System of

arding court on’ble High considered court cases

ma, penalties ement were

ks executed es under the efore, this nt received ead. ama, all the accounted.

9 In addi

StandarStandarthe impa. AS 4:

and b. AS 9

expeon c

c. AS 16into

d. AS requ

e. AS 19per r

f. AS 2asce

g. AS 2maddiscl

itions to the qds mentionedds are not comact thereof on t Event occurrin disclosed (refe: Prepaid expeenses. Also cerash basis. (Refe6: borrowing c CWIP & Expen18: related p

uirements. 9: for operatingrequirements. 28: Losses on ertained & discl9: provision fo

de and continlosed fully (Re

Disclosu

qualifications d above, th

mplied with & the financial stng after balanceer Note 10 also)enses are not rrtain incomes &er Note 2.6b, 20cost for qualifynditure for con

party disclosur

g leases policy

account of ilosed (Refer Noor certain expengent liabilitiefer note 2.17c,

ure Docume(Priv

pertaining to he following

we are unabletatement. e sheet date no). recognised for & expenses are0(i) & (ii) also) ying assets nonstruction periore not made

y and note not

impairment ofote 20 (xii) & 11enses for the yes are not asc20-(i), (ii) & 20

ent for CNN

vate and con

Accounting accounting

e to ascertain

ot recognised

all periodic e recognised . t segregated od.

as per the

disclosed as

f assets not 1.1.1.6 also).

year end not certained & viii also).


As far as Accounting Sbeing followe

- II Bond Is

to the knowStandards as aped.

ssue

wledge of thpplicable to the

he Nigama, e Nigama is

1

Annual Re

(a) A.

TheRs.equRs.penhenappliabSchactiliab

(b) B.

As finaandtheAdentzon28.1proThiaffaqua

thoprawhto wof t

statWeYeaattrandprostattheme

eport 2012-1

Note: 6 (a) Application

e Company ha1,500 Crores

uity share of5,660.91 Crore

nding allotmennce the compaplication monbilities in termhedule VI of coion be taken bility item in th

Non- Capitanon-preparat

stated in Notealize the valuad completed we committee fdditional Chief trusted this wone as per the 12.2006. We oogress in this ris has resultedairs of the coantify the effec

Due to noough the assetactically such hich the Nigamwhich we are uthe value of fix

Further,

tement of Profie are of the opinars from the inributed for nond loss is notovisions of Comtement of prof

e true and fairembers of the N

Disclosu

13

Audit observaOther Curren

Money: as got an Auth

and subscribef Rs.1,100.05 es received front of shares fr

any treated theney and clasms of discl

ompanies Act. to settle this

he Balance Sheealization of ction of Stateme No. 18.1 & 18ation of assets works for capitformed under Secretary GOK

ork to the chief proceedings o

observed that regard even a

d in wrong prompany, howe

t of the same.

on-capitalizatiots are fully cre assets were

ma has not provunable to comm

xed assets held

the Nigamait and Loss as snion that even

nception of then- preparationt reasonable mpanies Act19fit and loss rer view of the cNigama.

ure Docume(Priv

ations nt Liabilities

orized Share Ced and fully

Crores and om GOK as erom several ye said amount ssified under losure require In our opinionlong pending

et. completed woent of Profit an

8.2 the Nigama transferred frotalization, even the chairmanK. for this pur engineers of re

of the meetingthere was no

after lapse of sresentation of ever we are u

on of fixed asseated and pu deterioratingvided depreciament on the co by the Nigama

a does not stated in note –

n after lapse of ne Company, then of statement and contraven

956. Non-prepasulted in non company affai

ent for CNN

vate and con

– Share

Capital of paid-up further equity is

years and as share current ement of n suitable g current

AsSchApAuLiahavsecappCNan

orks and nd Loss. a is yet to om GOK n though nship of

rpose has espective

g held on material six years. Financial

unable to

sets even ut to use g against ation due orrectness a.

prepare – 17-10.1. nearly 10 e reasons of profit ning the aration of showing irs to the

ThNoproperNoirrienvcandaforiteproant201procom

ThtheregaritrebeeRedepInc ThdisReTa Thincfincapthe ThNo


Re

s per the dishedule-VI to pplication Monuthorized Capiabilities. The save correspondcretary water plication mon

NNL/ CS/ 21/d we are await

he Nigama hasote No.9 to accoogress incurredr the significan

o.17, Sub clauseigation projectvisages complenals, canal netwms, canals, disrms a composm of projects ojects as a whticipated the co14. Subsequeofit & Loss accmpleted.

he Nigama is fie reported pgarding obligaising during theating revenue en followed bturns, which partment as pecome Tax Act, 1

here is no resclose the basisvenue & Capitx Returns.

he Revenue exception of thenancial statempitalized on a pe time of capita

he filling of Inco.18 clause 21 s

- II Bond Is

eplies of the m

sclosure requi the Companey pending atal is to be refleame has been c

ded with Goverresources tow

ney as unsecu Share Appln./

ting favourable

s in its auditedounts under thd till 31st Marchnt accounting pe 10 capital wots within the juetion of all proworks etc.,) in stributories anite networks, does not arise

hole are compleompletion of thently assets wcount drawn u

illing the Incomposition of Inations of the he period of c expenditure asbased on the has been acceer the scrutiny1961.

equirement uns of treating oftal. For limited

xpenditure ince Nigama has

ment in Note prorate basis aalization of the

come Tax Retusub clause d.

ssue

management

irements of tanies Act, 19allotment in exected under otcorrectly classifrnment througards conversiored loan vide/ 2011-12 datede approval.

d statements dhe heading caph 2013 of Rs.86policy of the N

ork in progress urisdiction of tojects (consistin an integrated

nd other irrigat Hence capita

e unless and ueted and the Nhe work before

would be capitup once all the

me Tax Returnndian IncomeNigama to of

construction. Ts Revenue and

other Nigmaepted by the Iy orders U/s 1

nder companif Revenue exp

d purpose of fil

curred till dats been disclo No.9.1 and long with the a assets.

urns is disclos

the revised 956, Share xcess of the her Current fied and we gh principal on of Share e letter No. d 31.03.2012

disclosed in pital work in 6231 lacs. As Nigama note denotes the the Nigama ng of dams, manner, as tion system alizing each until all the Nigama has e 31st March talized and e works are

ns based on e tax laws ffer income

The basis of Capital has

as filling of Income Tax 43(3) of the

ies Act, to penditure as ling Income

te from the osed in the

would be asset cost at

sed in Note

(c) C.

DivTriledunasho

((((

(d) 4) (a)

adthlev

(b) (c) (d) (e) (f) F(g)

havtakGov04. tallToothecorthe

(e) 5) TRs.Rs.obs100taksati1,24liqu

Non - Mainttallying of Sc

We havvisions the follal Balance figu

dgers are not able to commeown under thesa) Securityb) Performc) Depositd) Earnest

Fixed Asset) Land-Freeholdditions made hat entries are vel as per H.O Buildings Plant & Machi EDP Plant Construction EFurniture & Fit Vehicles

In case ove some abstra

king over thevernment whi But thereaftelied with the ols and plant re above we rrectness of thee balance sheet. InventoriesThe Nigama 1,65,76,243/- 1,15,53,575/- served that ev0% Provision ken for liquidaisfactory in s4,803/- durinuidity position

Disclosu

tenance of perchedules: ve observed owing schedulures and also maintained ent on the corrse accounts. y Deposits – w

mance Guarantt/ Securities ott money depos

ts. ld: No docume during the y passed in th instructions.

nery

Equipments ttings

of all the abovact statements pe Assets andile forming theer they have n

ledger figuresregister is main

are unable e fixed assets ti. - Note 12.1

has got invless provisi

Net value Rsven though th

for obsolesceation of obsolo far as it cg 2012-13 wh of the Nigama

ure Docume(Priv

rsonal ledgers

that in someles are not Talthe following consequently

rectness of the

work contractorstee ther than cash it.

entary evidencyear. We were ihe accounts at

ve Assets, the prepared at th Liabilities f

e Nigama durinot been updas. In all Divisntained. On acto comment

itle and value s

ventories valuon for obso

s.50,22,668/-. Whe Nigama havence items, thlete inventorie

could realize hich has affea.

ent for CNN

vate and con

and non

e of the lied with personal we are

e amount

s.

Thaccbilwikee Wisecsecsecper Withoaccamtheava Thto of levrec

ce for the informed division

divisions he time of from the ing 2003-ated and sions one ccount of

on the shown in

ThduCopurefFu WiaccprorefDissam

ue(Gross) olescence We have ve made

he action es is not only Rs.

ected the

Disproyeaext


he Accountingcounting of secls paid, the dse is availableeping, since the

ith reference tocurity deposit wcurity deposit acurity deposit rformance gua

ith reference tough the samecounts but reg

mount of bank e form of non cailable at the d

he Security depthe formation Nigama. Actio

vel to collect covered.

he additions touring the year 2opy in the nurchase by theference to Com

urnitures & Fixt

ith reference tcounted baseovided by theference to Sy. Nstrict wise andme additions to

sposal of scrapocess which is ar during yeartent of Rs.1,24,8

- II Bond Is

g policy of thcurity deposit,

detailed break-e in the doube inception of t

o performance which has not amount. Sinceis accounted. S

arantee separate

to deposit / Se cannot be ac

gister has been guarantee andcash securities odivision level.

posit recoveredof Nigama is non would be in the details

o supplementa2012-13 is in ac

name of Nigae concerned apmputers, Vehicltures.

o additions toed on the e special landNo.., Nature od extent of lano land is accou

p and non mov being carried r there is sale803/-. During

ssue

he Nigama pr, EMD as per t-up of the samble entry systethe Nigama.

guarantee it is been segregate

e the overall liaSegregation & ely is not requi

Securities otherccounted in th

n maintained dd other securiof the contracto

from the contnot accounted nitiated at the Gof the securi

ary assets otheccordance withama duly apppproving authles, office Equi

o land the samdocumentary

d acquisition oof Land, Hobli,nd acquired banted.

ving stores is a out by the Ni

e of scrap matthe year 2012-1

rovides for the running me division em of book

s part of the ed from the

ability of the accounting ired.

r than cash he books of denoting the

ties held in ors which is

ractors prior in the books Government ity deposits

er than land, h the Invoice proving the

horities, with ipments and

me has been evidences

office. With , Taluk and ased on the

continuous gama every terial to the 13.

2

(f) 6)

Coth61noinNth

(g) Dre&

(i)

(h) (ii)

(i) (iii)

(j) (iv)

2 (v)

Effect of suCompanies

Consequomptroller and

heir Suppleme19(4) of the Comotes on accoun

ncluded in noto.22. The impa

he above in the D. The impact espect of the fo

& 18. Note No.transferredNo.WRD 02.07.2003

Note No. electrical fequipmentthe Governare not aconsequenfrom the dquantified

) Note No. Cauvery Bcompletionprepared Constructireviewed &accordanceaccountingprojects in

) Note No. brought inare subjecvarious prawards, copayable.

Note No. assets for daccounts fo

Disclosu

upplementary A Act,1956::

uent to the d Auditor Gentary Audit Cmpanies Act, 1nts in respect tes on accountact on accounts notes cannot bon accounts i

ollowing items

18 - 1.3. Td by the Gov

32 KBN 20

18 – 2.3 thoufittings, furnitts & vehicles hanment of Karnavailable excepntial effect of date of transfer & adjusted. 18 – 3 Proje

Basin area aren. Thereforea Statement oon (pending ca& capitalized oe with the g practices o its entirety.

18 - 5(c) The nto books of acct to adjustmerocedures incluonsent awards,

18 - 5(d) Pendisposal, no pror impairment

ure Docume(Priv

Audit U/s.619(

observations eneral of IndiaConducted un

1956, the note Nof service tax ts No.18-18A as due to the incbe quantified. is not ascertais referred to in

The value overnment as p003 Bangalor

ugh building, ture & fixtureave been transf

nataka item wispt for vehicle depreciation r of assets has

ects coming une in various se, the compaof Expenditureapitalization) &or treated othe normally n completion

cost of free hccount of the cents on finalizuding land ac, finalization o

nding identificrovision is ma of assets.

ent for CNN

vate and con

(4) of the

of the a during nder sec. No.18-the has been and note clusion of

ThTainfNi

inable in n Note 09

f Assets per order e dated

ThlikMainsassBacosincthethe

colonies, es, office ferred by se details es. The thereon not been

Thbeebufixproin be

nder the stages of any has e during & will be erwise in accepted

n of the

Thsigwicomcandaforcapentsucpaycomproind

hold land company zation of cquisition of interest

Thin theWhto furLanprolan

cation of de in the

Thdetcoleleavaof accass


he Nigama has x payable ofrastructure prgama.

he Nigama haske roads, builachinery, vehistallations whsets for creatiosin area. Thest accounted incorporation of e assets is antice depreciation c

he Chief Engen instructed

uilding , colontures and equocess is in progitem wise sche no impact on t

he Nigama in gnificant accouthin the Jurimpletion of thnals, canal netms, canals dirm a compopitalized on thtirety, until such constructionyments for wmpetent authoogress, under dividual items

he Nigama is caaccordance w

e award made here subsequenthe land ownerther capitalizend at historicaocess. Hence thnd accounted inhe Nigama is tails of the alonies, buildingectrical installaailable than th such assets w

counting entrisets.

- II Bond Is

obtained the oon expenditurroject, which

capitalized ldings, coloniesicles , furniturehich are tron of infrastruc values of then the Nigamathe Nigama. N

cipated and thecharged on thegineers of the to prepare a nies, electricauipment’s. Givgress. No mate

edule of these athe depreciatio

Note No. 1unting policy. isdiction of the entire projtwork etc. ) in istributaries anosite network,he completion

uch completionn (which inclu

works compleority ) is showappropriate h

does not arise.apitalizing all t

with the acquis by the SLAO intly difference

ers based on theed. The Nigaml cost without here would be n the Nigama bin the processassets capitaligs, equipments

ations. Once thhe Nigama wowhich are impies to accoun

ssue

opinion regardre incurred ois not applica

only such of s , equipmente & fixtures aneated as supcture projects

ese assets are aa books as on No change in tere would be nese assets. respective zdetailed brea

al fittings, fving item wise erial change is assets. Hence ton charged on t

7 – 4 has st The irrigatiothe company ject (consisting a integrated

nd other irriga, the cost n of respective

n expenditure iudes in certainted pending n under Capit

heads. Hence the cost of fresition proceedin the Cauverye in cost or intee court orders,

ma has accounresorting to an no impact on tbooks. s of collectingzed like roads, furniture & f

he item wise buld resort to idpaired and pant for the imp

ding Service on Capital able to the

the assets t’s, plant &

nd electrical pplementary in Cauvery at historical the date of

the value of o impact on

zones have akup of the furniture & details. The anticipated there would these assets.

tated in its on projects,

envisage g of dams, manner. As tion system would be e projects in incurred on n cases part approval of tal work in capitalizing

ee hold land dings before y Basin area. erest is paid the same is

nted for the ny valuation the value of

g item wise ds, bridges, fixtures and break up is

dentification ass suitable pairment of

(vi)

(vii

(vii

(ix)

(x) •

•

•

•

•

•

) Note No. wise expencapitalization 31st Mar

i) Note No.1MMH 03constitutedDevelopmemeeting hefunds for crores hasundertaken– Rs.16.02 Govt. the though theto District

ii) Note No. 1excavationcontrolled future econit, valued being lowe

) Note No.1deposits, liabilities, subject toconsequen

Note No. 1Disputed claicontrtactors &litigation/ aacquisition casClaims againsvarious labosuppliers o/arbitration prLiability arisestimates/ scextension of tagainst partapprovals. Liability on deduction of Service Tax, Eothers & liabilof Tax deducteLiability towacontractors duLiability in resretired from aexemption fro

Disclosu

9 – 9.3 regarnditure duringion) & the presrch 2013. 8 - 6(a) Govt. v3, Bangalore d “Talacauveent Authorityeld on 13.08.20the improvme

s been incurren upto March crores). Pendi amount is se projects are cAdministration18 - 7(c) Hard

n for civil wo by the compnomic benefits at Rs.1/- (Prer of cost & net

18 - 10 Balanreceivables, ctrade deposi

o confirmationtial adjustmen

18 - 18 ims against t& others incarbitration pses. st the Companyour cases, other agencieroceedings. sing on accochedule of ratime for contraty paid bill

account of income tax/ S

ESI & PF etc., flity on accounted at source & ards non-reco

ue to court direspect of road t

active use, awaom the transpor

ure Docume(Priv

ding details og construction sent status of p

vide Order No dt: 20.09.2ery – Bhagay”. The BOD003 decided to

ents of TBDA. ed in respect 31, 2013 (Preving final decisishown under omplete & hann.

d rock extracteorks being a pany and from are expected t

revious Year –t realizable valu

nces under acontractors & its advances on, reconciliats.

the company,cluding claim

proceedings o

y that may arither litigationes under

ount of revates, escalationacts, includingls thereon,

non-deductionSales tax and from the contrt of delay in re Tax collected a

overy of royaections. tax payable on

aiting disposal,rt authorities.

ent for CNN

vate and con

of project (pending rojects as

Sam

o.WRD 49 2003 has amandala

D at their o provide Rs.16.00 of work

vious year ion of the Advance

nded over

Sam

d during resource

m which to flow to – Rs.1/-) ue.

ThHaothauRoof auunpoRonothe

advances, current etc., are

ation &

Thhasadvcurhasobfin

by the ms under

of land

ise out of ns with litigation

ision of n claims, g balance awaiting

n/ short royalty/

ractors & emittance at source. lty from

n vehicles pending

Thgivackasc18.


me note as in 1

me note as in 1

he Nigama hasard Rock excaher infrastrucctioned based

ock . There is nHard rock.

ctioning rate nrealizable inco

licy. Hence Nock in the yeaminal value ofe end of each fi

he Nigama hass made effortvances, deposrrent liabilitiess been obtainetain confirmat

nancial year. he contingent ve the amounknowledged acertainable due.

- II Bond Is

18 – 3.

18 – 3.

s a policy of avated , whichcture project, cd on the qualitno fixed rate of

Hence consid is like pro

ome, which is Nigama accouar of auctioninf Rs. 1 of the Hainancial year. during the ents to obtain bsits, receivables. However in ed and efforts tion of balanc

liabilities givent of claims aas debt. Thee to the reason

ssue

taking into inh would be uscertain time it ty and quantif realization ondering values oviding for not a prudent

unts for the sang and has sard rock inven nd of every finbalance confirmes, contractor some cases coare made yearces at the en

en in note 18–against the coe monitory vans mentioned i

nventory of sed for its would be ty of Hard

n auctioning based on anticipated

accounting ale of Hard shown as a ntory held at

nancial year mations on dues and onfirmation r on year to

nd of every

–18 broadly mpany not alue is not in Note 18–

(xi)

(xii

) Note No.1Govt. detdeputationHowever respect of effecting p

i) Note No.18on capitaproject, Prunder Secthas not Expenditur(pending accumulateincome haExpendituradjusted” However, for submis

Disclosu

8 – 20(a) A seailing the ter

n of officers the company such deputedayment as in th8 – 21(d) In vie

alization on rofit & Loss tion 210(1) of thbeen preparere during Con

capitalizationed expenditu

as been shownre to the extein the Balancea Profit & Los

ssion to Income

ure Docume(Priv

eparate Order rms & condi

& staff is is following

d officers & stahe past. ew of Companycompletion oAccounts as

he Companies Aed. A statenstruction for n) is prepaure after a

n under “misceent not writtee Sheet as in ss Account is pe Tax authoritie

ent for CNN

vate and con

from the itions of awaited.

KCSR in aff while

NiGodepNiCivSta

y’s policy of entire

required Act, 1956 ment of the year

ared & adjusting ellaneous en off or the past. prepared es.

Threawh ThconwhDasyscapThhavsucin-comprehasconthetheAcwothetreexpcanmaDufroearred


gama has overnment for putation of gama. Howevevil Service Ruleaff. he Nigama in ason for non hich is reprodu

he Cauvery Bansisting of Damhich is expectedams, Canals, stems form a pitalized only

hough some ove been complch works conti-progress in termpletion of thepare Profit & s prepared nstruction (pene disclosure re Companies ccount All theorks would be e direct expendeated as Cappenditure incunals includingaintenance, wuring Construom the Canal Wrned etc., wouduce the Expen

- II Bond Is

not got thdetailing the t officers ander the Nigamaes in respect of

Note 18 – 10 preparation ouce below.

asin project envms, Canal Systd to be complet

Distributoriescomposite ne

on completiof the Irrigatioleted and Watinued to be shrms of Accoun

he entire projec Loss Accounta statement nding capitalizrequirements o

Act, 1956 inse direct expentreated as Capditure incurred

pital work inurred in respecg the expen

would be takuction period“Water apart fromuld be taken inditure during

ssue

he separate terms and cond staff work

a is following f such Deputed

has clearly spof Profit & Lo

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of expendituzation) in accorof Part II of Schstead of Profitnditure incurr

pital Work in Pd on the work

n progress. Act of such strunses incurred ken under “E

and any incom other items into the same construction p

order from nditions of king in the Karnataka d Officers &

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ntire project al net work, rch 2014. As r irrigation cost will be tire project. and Canals t into them, apital work-o. 1. Till the ny does not he company ure during rdance with hedule VI to t and Loss red on the

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period.

ANNUAL

D. NoteMon

TRs.1,500 CRs.1,100.0GOK as eand hencapplicatioterms ofAct. In opending c B. The

the foi.

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on items mentio– 3 regarding

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during c) & the presen12. - 6(a) regardinrojects for Ta Authority

- 7(c) regardinracted during e10 regarding b adjustments

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ure Docume(Priv

s lities – Share

uthorized Sharully paid-up equ14.65 Crores ref shares from s

he said amounder current Schedule VI obe taken to setalance Sheet.

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umulated loss be ascertained.

ent for CNN

vate and con

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re Capital of uity share of

eceived from several years nt as share liabilities in f companies

ttle this long

n respect of 8. f assets and arnataka. al effect on

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ojects as on

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ble value of civil works. mation and mentioned

ry value in therein. order from itions of the

paration of section 210 unt of this or its cash


RThe Board completed therecords as rAuditors Rep

- II Bond Is

Replies of the Reports that e Nigama shalrequired undeort.

ssue

management once the pll be able to uper Law as in

projects are pdate all the ndicated in

Even thouthe revisstatementfrom thefollowing

i.

ii.

iii.

Non compComp

ugh the comped Performa t of accounts h

e Accounting g cases and the

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have been prepStandards pre

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assets acquirnew and non

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ure Docume(Priv

nted the Balan, the basis onpared, there isescribed by I

t quantifiable:

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held for dispos complied.

he Borrowing completed work

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vate and con

nce Sheet in n which the s a deviation ICAI in the

ernment of of details of ost data and d out in the

disposed off

sal and old

costs due to ks – AS 16 –

due to non ssets to the


- II Bond Is

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SN

ANNUAL

SL NO.

1 The impfollowin

i.

ii.

iii.

iv.

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vi.

vii.

viii.

ix.

x.

xi.

xii.

Effect oAct, 195

ConsequAuditorSec. 619account

P

Impact StatemExpendconstruShare ACurrenCurrenMisc. EConstrperiodCapita

.

REPORT 2AUD

pact on accounng items referre

Note No. 1.3liabilities transNote No 2.3depreciation oNote No 3 regwhich are alreWork-in-progrNote No.5 (c)valuation of ltherein. Note No. 5 (d)provision for identified fo(Accounting SNote No. 6expenditure capitalization)31st March 201Note No. 7completed prDevelopment Note No. 8 (c)rock extractedNote No. 11 consequential therein. Note No. 19 respect of contNote No. 22 (agovernment adeputation of Note No.23 (d & Loss accouCompanies act

of Supplement56:

uent to the r General of In9(4) of the Comts is as noted he

Particulars

on ment of

diture For the uction period Application nt Assets nt Liabilities Exp. During ruction

d(pending alization)

Disclosu

2010-11 DIT OBSERVA

nts is not asceed to in schedu

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3. Regarding on items mentiogarding treatm

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tary Audit U/s

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SA

1196.46

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1196.46

ure Docume(Priv

ATIONS

ertainable in reule O, (Notes of

of value of vernment of Ka

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he consequentiinto books as

nsequential effion of such aimpairment

details of construction

nt status of pro

g non capitTalcauvery Bhding Governme realizable vaation civil workalance confirm for items

g the monetares mentioned t

he awaited ordms and conditiaff. non preparatiod under section

s. 619(4) of the

of the Compupplementary A56, the im

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(Rs. in Crores)1199.34

3909.09256.73140.37

1199.34

ent for CNN

vate and con

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and canals, se as capital

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ptroller and Audit under

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y ’s

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9 5.00 3 0.37 7 8.25 4 2.88


REPL

The Board completed therecords as rAuditors Rep

- II Bond Is

LIES OF THE M

Reports that e Nigama shalrequired undeort.

ssue

MANAGEMEN

once the pll be able to uper Law as in

NT


2 Even ththe baspreparein the Fo

(i)

(ii)

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(iv)

hough the compsis on which ed, there is a dollowing cases

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Disclosu

pany has statethe statement

deviation from and the impac

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ANNUAL

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(ii)

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(ix)

(x)

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hough the Combasis on whiched there is a dowing cases anTreatment of Karnataka as nuseful able theof acquisition,and depreciatiNon- disclosuitems separatePending capitpending capitAS 16 Non identificcompletion ofCompany - AS

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2009-10 DIT OBSERVA

nts is not asceeferred to in

3. Finalizationsferred by Gov3. Regarding

on items Mentioegarding, treateady completedress. c) regarding thland brought

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data and year ut in the cost sed off-AS 6 osal and old

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REPL



- II Bond Is

LIES OF THE M



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MANAGEMEN



NT



dndaord :080-22352997 I 221S49OO

trDr* :080-22352998

ua*eO Oeooa3OOdd) Od)a)d(dor-ud lardd *4e)ao{prdettr defeo : 3 *q 4Se ;$d6,*>ee3r, siodD8o.9 deo{, du1d,

cJdoddJ-r d€ , eiodCad:-s. cl N-u4s205 KA2003SGC032044

Tel. :080-22352997 I 22354900Fax :080-22352998

CAUVERY NEERAVARINIGAMA LIMITED(A Govt. of Karnataka Enterprise)

Corporate Office: 3rd & 4th Floor,

Surface Water Data Centre Building

Anandrao Circle, Bengaluru-560 009.

CNNL/ACA/Bonds Issue/20 14- 1 5 Date:12.O3.2OI5

Adjourned 1lth Annual General Meeting held on 12.03.2015

SPE(CIAL RESIOLUTION

3.O1. ISSUAT{CE OF REGULAR, REDEEMABLE, SECURED, NON-coIwERTIBLt, TAXABLE SERIES-II BONDS ON PRMTEPLACEMENT BASIS:

To consider and if thought fit, to pass, with or withoutmodification(s), the following resolution as a Special Resolution:

*RESOLVED THAT pursuant to the provisions of Sections 42and 71 and all other applicable provisions, if any, of theCompanies Act, 2Ol3 (including any statutory modifications orre-enactment thereof, for the time being in force) as well asrules prescribed thereunder and applicable SEBI Guidelines,approval of the Shareholders'be and is hereby accorded to theBoard of Directors to issue OF REGULAR, REDEEMABLE,sEcuRED, NON-CONVERTIBLE, TAXABLE SERTES-II BONDS ONPRffATE PLACEMENT BASIS ("Bonds") of face value aggregatingup-to Rs.2O0 crore (Rupees TWo Hundred Crores Only) fromdomestic market during a period of one year from the date ofapproval by shareholders'within the overall borrowing limitsapproved by Shareholders."

"RESOLVED FURTHER TIIAT for the purpose of giving effectto ttre above resolution, the Board / Committee of the Board orofficers authorized by tJ.em in this regard be and is herebyauthorized to do, from time to time, all such acts, deeds andthings as may be deemed necessar5r in respect of issue ofBonds including but not limited to number of issues /tranches, face value, issue price, issue size, timing, amount,tenor, method of issuance, security, coupon / interest rate(s),yield, listing, allotment, appointment of various agencies andother terms and conditions of issue Bonds as they may, intheir absolute discretion, deem necessary."

CERTIFIED COP,

Regd. Office.'Cauvery Bhavan Complex,4th Stage, Gokulam, suRU-570 020.

Iel. : O821 -241 21 01 Tele-fax : 0821 -24'l 419 1 E-mai | : cn n lmd @ yahoo.com

dndpd : 080-22352997 I 22354900

e'{ :080-22352998

trD*eo oecroa3oOdE$ Oaba)d(daa,-ud ,lardd o"4#)

odpr6etsc dq3eo : 3 *q 4dc t!da,d:ee3r, c6odtob9 deo{, du1d,

rcdoddJar dd . t^3ozldnd:-s. ct N-u4s205KA2003SGC032044

Tel. :080-22352997 I 22354900Fax :080-22352998

CAUVERY NEERAVARINIGAMA LIMITED(A Govt. of Karnataka Enterprise)

Corporate Office: 3rd & 4th Floor,

Sudace Water Data Centre Building

Anandrao Circle, Bengaluru-560 009.

CNNL/ACA/Bonds Issue/20 14- 1 5 Date:12.O3.2OL5

T\ue Drtrqct of SOth Board, Meetlng hcld on12.O3.201s

"RESOLVED THAT the Managing Director be and is hereby authorised tofinalise the Structure of the Regular, Redeemable, Secured, Non-conveftible,Taxable, Private Placement of Series-// Bonds and Schedule of Bonds /ssue".

RESOLVED THAT Sri. K. Devadas, Chartered Accountant, working in theNigama as Assef Cell Advisor, be designated Chief Financial Officer and isherby authorised to sign the Financial Statements, Disclosure Documents onbehalf of Directors in token of due compliances of the SEBI / BSE /Companies Act & Rules. Fufther Resolved that CFO, is hereby authorised tocomply the requirement of PAS-4 / PAS-I, and make necessary disclosuresand declarations on behalf of the Board and to update / incorporate necessarychanges at the time of opening of the Series-ll Bond /ssue".

"RESOLVED THAT the Managing Director / CFO are, be and hereby jointlyand severally authorized to enter into Tripartite Agreements, TrusteeAgreements, MOUs, Trust Deeds, Loan Agreements, create charges on theassets of the Company, BSE Listing Agreement and other Deeds andDocuments required for mobilisation of Funds and atso to affix common sealof the Company on said Agreements / Documents".

"RESOLVED THAT the Managing Director / CFO are, being and hereby joinilyand severally authorized to open Escrow / current Account for the issue andoperate the same, convert the collection into short term deposits either in thesame Bank or any other Banks in consideration of higher yield or operatingconvenience.

"RESOLVED THAT the Managing Director / CFO are, being and herebyiointly authorised to Allot Serles-// Bonds under Demat facilities and to provideDemat facilities by entering into necessary agreement with NSDL / cDsL,Registrar and Transfer Agents in this regard".

'RESOLVED THAT the approvat of the Board is be and hereby accorded toissue and allot, Non-convertible, Secured, Taxable, Regular Return Bondsunder Private Placement to the extent Rs.200 crores. Resolved further thatthe Managing Director / cFo are, be and hereby, joinfly and severally,authorized to issue and allot, Non-convertible, secured, Taxable, RegularReturn Bonds under Private Placement to the extent Rs.20O crores.

CERTIFIED COPY

Regd. Oftice: Cauvery Bhavan Complex, 4th Stage, Gokulam, Ma

fel. : 0821 -241 21 01 Tele-fax : 0821 -24'l 4'19 1 E-mail : cn n I md @ yahoo. com

u-570 020.

Continuation Sheet

RESOLVED THAT the draft PAS-4 / Disclosure Document for Series llPrivate placement enclosed at Annexure - 2 and the disclosures /declarations made there in are noted and approved and CFO herebyauthorized sign the declaration and to update the same before opening thelssue.

RESOLVED THATE as a Financial Representative, CFO is hereby authorizedto sign the Diselosure Dcouments, AnnuallHalf yearl Quarterly FinancialStatements, lncome Tax, VAT, Service Tax and other required StatutoryReturns, periodical statements as per stock exchange listing agreementconditions NSDL & CSDL agreement and as required by other StatutoryOrganizations.

CERTIFIED COPY

*

3/11/2015 : CRISIL Ratings :

http://www.crisil.com/Ratings/RatingList/RatingDocs/Cauvery_Neeravari_Nigama_Limited_March_10_2015_RR.html 1/3

March 10, 2015

Mumbai

Cauvery Neeravari Nigama Limited

'CRISIL AA-(SO)/Stable' assigned to bond programme

Rs.2 Billion Bond Programme CRISIL AA-(SO)/Stable (Assigned)

CRISIL has assigned its 'CRISIL AA-(SO)/Stable' rating to the Rs.2 Billion bond programme of CauveryNeeravari Nigama Limited (CNNL). CRISIL's rating on CNNL's bond programme is centrally based on the unconditional and irrevocableguarantee from the Government of Karnataka (GoK), and a trustee-administered payment mechanism. Therating on these bonds, therefore, reflects the credit risk profile of GoK. CRISIL's rating continues to reflect GoK's healthy economic management and financial risk profile, strongtertiary sector, and low level of committed expenditure. These rating strengths are partially offset by GoK'slow investment attractiveness compared to that of other large Indian states, and Karnataka's dependenceon monsoons for irrigation and power. CRISIL excludes receipts from sale of land while computing revenuereceipts and gross fiscal deficit (GFD). GoK's healthy economic management is marked by healthy fiscal marksmanship, superior tax effort andhealthy liquidity management. GoK has consistently reported a lower-than-budgeted adjusted GFD since2008-09 (refers to financial year April 1 to March 31), except in 2009-10. For 2012-13, the GFD was Rs.145.4billion as against the initial budgeted estimates of Rs.154.4 billion The adjusted revenue surplus has beenconsistently higher than the budgeted levels. For 2012-13, the revenue surplus was Rs.18.8 billion asagainst the initial budgeted estimates of Rs.9.3 billion. Furthermore, Karnataka's tax effort, measured by itsown tax revenues as a percentage of gross state domestic product (GSDP), at 10.7 per cent in 2011-12 andat 10.3 per cent in 2012-13, is the highest among all CRISIL-rated states, reflecting its efficient economicmanagement. Karnataka has consistently reported superior tax effort among all CRISIL-rated states overthe past five financial years. GoK's liquidity management is also healthy. The state government has notresorted to any borrowings under the Ways and Means Advances during the period 2008-09 to 2013-14. GoK's financial risk profile is marked by healthy debt coverage and deficit indicators. The financial risk profileremains healthy despite a marginal reversal in the trend of improving debt coverage and deficit indicatorsduring 2008-09 and 2009-10. GoK's coverage indicators have been consistently improving over the past fewyears. For instance, its revenue receipts to interest ratio improved to 12.4 times in 2012-13 from 8.7 in2005-06. The state's indebtedness (defined as debt-plus-guarantees-to-GSDP) improved to 22.7 per cent in2012-13 from 31.3 per cent in 2005-06. The debt-plus-guarantees-to-revenue receipts ratio, has improvedto 1.3 times in 2012-13 from 2.1 times in 2005-06. The partial reversal in the improving trends during 2008-09 and 2009-10 was on account of an adverse macroeconomic environment, coupled with theimplementation of the state's pay commission recommendations. Since 2012-13, with the change in the state's government, additional expenditures were on account ofimplementation of the announcements of the new government's manifesto. These announcements includeddistribution of rice at Rs.1 per kilogram to the poorest of the poor; waiver of loans to scheduledcastes/scheduled tribes, backward classes and minorities; increase in incentive to co-operative milkproducers from Rs.2 to Rs.4; and increase in subsidy to house constructions. The new government has alsoannounced an action plan for Rs.500 billion to create an irrigation potential of 925,805 hectares over 3 to 5years. However, CRISIL believes that GoK's debt coverage and deficit indicators will remain healthy over themedium term on account of better expenditure management. The tertiary sector is the main driver of economic growth for Karnataka: between 2008-09 and 2013-14, thestate's tertiary sector reported a compound annual growth rate (CAGR) of 7.1 per cent, which was the maindriver for the 5 per cent economic growth recorded by the state during the period (calculated at constantprices). Karnataka is a hub of India's high-growth information technology (IT) business, and accounts formore than a third of India's IT exports. Although the bulk of the working population in Karnataka is engaged in agriculture, the state's grossirrigated area was about 32 per cent of its gross cropped area (as per 2009-10 data), against the nationalaverage of 45 per cent. Consequently, the monsoon has a critical bearing on the livelihood of a largesection of Karnataka's population. Heavy dependence on monsoon also has a negative impact on the state's power sector. The state reliesheavily on hydro-electric (hydel) resources for its power generation; hydel power capacity accounts foraround 25 per cent of GoK's installed power capacity as of September 30, 2014. Inadequate rainfall can



therefore force the state's power utilities to depend more on power purchase, which can, in turn, have anadverse impact on their finances.

Outlook: StableCRISIL believes that GoK will continue to benefit from its healthy economic management and financial riskprofile over the medium term. The outlook may be revised to 'Positive' if GoK sustains an improvement inboth deficit and debt coverage indicators. Conversely, the outlook may be revised to 'Negative' if there is asignificant adverse impact on GoK's state finances over the medium term.

About the IssuerCNNL was established in 2003 as a special purpose vehicle to accelerate the implementation of CauveryBasin projects in Karnataka. These projects constitute 18 per cent of the state's geographical area and arespread over 11 districts. The main objective of CNNL is to complete, maintain, operate and modernise theirrigation projects including lift irrigation works and minor irrigation works in the Cauvery Basin. As on March31, 2014, CNNL has incurred total capital expenditure of Rs.17.2 billion pending capitalisation.

Media Contacts Analytical Contacts Customer Service Helpdesk

Tanuja AbhinandanCommunications and BrandManagementCRISIL LimitedPhone: +91 22 3342 1818Email:[email protected]

Jyoti ParmarCommunications and BrandManagementCRISIL LimitedPhone: +91 22 3342 1835E-mail: [email protected]

Pawan AgrawalSenior Director - CRISIL Ratings Phone:+91 22 3342 3301Email:[email protected]

Manish Kumar GuptaDirector - CRISIL Ratings Phone:+91 124 672 2000Email: [email protected]

Timings: 10.00 am TO 7.00 pmToll free Number:1800 267 1301Email: [email protected]



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About CRISIL LIMITEDCRISIL is a global analytical company providing ratings, research, and risk and policy advisory services. We areIndia's leading ratings agency. We are also the foremost provider of high-end research to the world's largest banksand leading corporations.

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Disclaimer:A CRISIL rating reflects CRISIL's current opinion on the likelihood of timely payment of the obligationsunder the rated instrument and does not constitute an audit of the rated entity by CRISIL. CRISIL ratings are basedon information provided by the issuer or obtained by CRISIL from sources it considers reliable. CRISIL does notguarantee the completeness or accuracy of the information on which the rating is based. A CRISIL rating is not arecommendation to buy, sell, or hold the rated instrument; it does not comment on the market price or suitability fora particular investor. All CRISIL ratings are under surveillance. Ratings are revised as and when circumstances sowarrant. CRISIL is not responsible for any errors and especially states that it has no financial liability whatsoever tothe subscribers / users / transmitters / distributors of this product. CRISIL Ratings rating criteria are availablewithout charge to the public on the CRISIL web site, www.crisil.com. For the latest rating information on anyinstrument of any company rated by CRISIL, please contact CRISIL RATING DESK at [email protected], orat (+91 22) 3342 3000.

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C RISIL has revised its rating symbols and definitions with effec t from July 11, 2011, to comply with the SEBI c ircular, ‘Standardisation of Rating Symbols

and Definitions ’. The revised rating symbols carry the prefix, ‘C RISIL’. The rating symbols for short-term ins truments have been revised to ‘C RISIL A 1 ’,

‘C RISIL A 2 ’, ‘C RISIL A 3 ’, ‘C RISIL A 4 ’, and ‘C RISIL D’ from the earlier ‘P 1 ’, ‘P 2 ’, ‘P 3 ’, ‘P 4 ’, and ‘P 5 ’, respec tively. The revis ion in the rating symbols and

definitions is not to be cons trued as a change in the ratings . For details on revised rating symbols and definitions , please refer to the document, ‘Revis ion

of Rating Symbols and Definitions ’, at the link, http://www.crisil.com/ratings/credit-rating-scale.html

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Ind-Ra Assigns Cauvery Neeravari Nigama’s Proposed Bonds ‘IND AA-(SO)(exp)’

Ind-Ra-Chennai-9 March 2015: India Ratings & Research (Ind-Ra) has assigned Cauvery Neeravari Nigama Limited’s (CNNL) INR2bn bonds programme an ‘IND AA-(SO)(exp)’. The Outlook is Stable. KEY RATING DRIVERS Government Guarantee: The ratings reflect the credit profile of government of Karnataka (GoK) which has undertaken to provide budgetary support and has unconditionally and irrevocably guaranteed the principal and interest obligations of the bonds. Sound Security for Bonds: The rating further reflects other security features such as first mortgage and charge on CNNL’s properties as may be agreed for the bonds in consultation with the trustees on an equal basis, subject to a minimum asset cover of 1.25x. Since the bonds services are part of the budgetary provision, GoK will transfer the debt service on a timely basis. A tripartite agreement will be executed among GoK, CNNL and the trustees delineating the structured payment mechanism. Grant-led Fiscal Consolidation: GoK enacted the Karnataka Fiscal Responsibility Act, 2002 long before the government of India and other states could. GoK expects revenue receipts to grow 17.79% yoy in FY15 budget estimates (BE) from 20.59% yoy in FY14 revenue estimates (RE). Non-tax revenue declined 2.7% yoy in FY14RE after contracting 2.96% yoy in FY13. However, the state expects the non-tax revenues to grow 15.91% yoy in FY15. In FY14, grants soared 90.87% yoy and the state expects grants to buttress the FY15BE (35.08% yoy) revenue estimates. In Ind-Ra’s view, grant-led fiscal consolidation will be able to rescue the state’s finances for a maximum of three years; any reliance beyond that will create volatility and is untenable. Subsidy Control Critical to Achieve Targets: The state projects its expenditure to increase 17.57% yoy in FY15BE as against 23.48% yoy in FY14RE. Select committed expenditure (salary, pension and interest)/revenue expenditure is likely to increase to 38.25% in FY15 from 34.67% FY14RE. Salaries, pension and interest will grow 39.14%, 15.43% and 24.36% yoy, respectively, in FY15. The state expects subsidies to shrink 20% yoy in FY15 as against a 26.46% yoy increase in FY14RE. Ind-Ra views a decline in the proportion of selected committed expenditure in the current expenditure and a contraction of subsidies as major factors to achieve FY15 budget targets. Importantly, any slippage in subsidy will alter FY15 fiscal arithmetic. Growth Projections: GoK estimates the economic growth to be 5% yoy for FY14 according to the advanced estimates. The agriculture sector rebound in FY14 has failed to inspire the state’s economic growth due to a slump in the industrial and services sectors. Industry growth slowed down to 1.2% yoy in FY14 as against 4.4% yoy in FY13 and the services sector decelerated to 7.2% from 8.4%. RATING SENSITIVITIES Any change in GoK’s credit quality and a significant deviation from the structured payment mechanism will trigger a rating action.

COMPANY PROFILE CNNL is a special purpose vehicle established in June 2003 under the Company Act 1956 to accelerate the implementation of Cauvery Basin Projects in Karnataka. CNNL’s objective is not to earn profit. The company will not prepare a profit & loss account till the completion of the entire project. The irrigation potential created up to January 2015 was 441,645hectare (ha) out of the potential of 538,613ha. Contacts: Primary Analyst JB Sivakumar Associate Director +91 44 4340 1714 India Ratings & Research Pvt Ltd 4th Floor, D South, TIDEL Park No 4, Rajiv Gandhi Salai, Taramani Chennai 600 020 Secondary Analyst Divya Shrivastava Analyst +91 44 4340 1705 Committee Chairperson Devendra Kumar Pant Senior Director +91 11 4356 7251 Media Relations: Saraanya Shetty, Mumbai, Tel: + 91 22 4000 1729, Email: [email protected]. Additional information is available at www.indiaratings.co.in. The ratings above were solicited by, or on behalf of, the issuer, and therefore, India Ratings has been compensated for the provision of the ratings. Ratings are not a recommendation or suggestion, directly or indirectly, to you or any other person, to buy, sell, make or hold any investment, loan or security or to undertake any investment strategy with respect to any investment, loan or security or any issuer. Applicable Criteria, ‘Rating of Public Sector Entities’ and ‘Local and State Government Rating Criteria’ dated 12 September 2012, are available at www.indiaratings.co.in