FINANCIAL RESULTS The summarized financial results for the year ended March 31, 2013 are as under: For the year ended March 31, 2013 (R lakh)

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1 DIRECTORS REPORT Dear Shareholders, Your s have pleasure in presenting the Second Annual Report of your Company with the audited accounts for the year ended March 31, FINANCIAL RESULTS The summarized financial results for the year ended March 31, 2013 are as under: Particulars For the year ended March 31, 2013 (R lakh) For the year ended March 31, 2012 (R lakh) Gross Income Profit Before Tax (3.84) (1.08) Provision for Tax - - Profit after Tax (3.84) (1.08) Add: Balance brought forward from previous year (1.08) Balance available for appropriation (4.92) (1.08) Balance carried to Balance Sheet (4.92) (1.08) DIRECTORS Pursuant to the provisions of the Companies Act, 1956 and Articles of Association of the Company, Mr. T. S. Sundaresan, of your Company, retires by rotation at the ensuing Annual General Meeting and being eligible, has offered himself for re-appointment. CORPORATE GOVERNANCE VOLUNTARY GUIDELINES 2009 A gist of the compliance of your Company with the said guidelines is furnished in the Corporate Governance Report forming part of this Report. AUDITORS Your Company s Statutory Auditors, M/s. B B S R & Co., Chartered Accountants, retire at the conclusion of the ensuing Annual General Meeting and have expressed their willingness to continue as Auditors, if re-appointed. The Board recommends re-appointment of the firm as Statutory Auditors. PARTICULARS OF EMPLOYEES AS REQUIRED UNDER SECTION 217 (2A) OF THE COMPANIES ACT, 1956 AND THE RULES MADE THEREUNDER Your Company did not have any employee during the year. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO In view of the nature of activities which are being carried on by your Company, Rules 2A and 2B of the Companies (Disclosure of Particulars in the Report of Board of s) Rules, 1988, concerning conservation of energy and technology absorption respectively, are not applicable to your Company. There were no Foreign Exchange earnings or outgo during the period. DIRECTORS RESPONSIBILITY STATEMENT Pursuant to Section 217(2AA) of the Companies Act, 1956, the s, based on the representations received from the Operating Management, and after due enquiry, confirm that: 1) in the preparation of the annual accounts, the applicable accounting standards have been followed and there has been no material departure; 2) the s have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at March 31, 2013 and of the profit of the Company for the year ended on that date; 3) the s have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; 4) the annual accounts have been prepared on a going concern basis; and 5) proper systems are in place to ensure compliance of all laws applicable to the Company. AUDITORS REPORT The Auditors Report is unqualified. The notes to the Accounts referred to in the Auditors Report are self-explanatory and therefore do not call for any further clarifications under Section 217(3) of the Companies Act, COMPLIANCE CERTIFICATE A Secretarial Compliance Certificate required under Section 383A of the Companies Act is annexed herewith the s Report. For and on behalf of the Board of s S. V. SUBRAMANIAN T. S. SUNDARESAN S-2410

2 CORPORATE GOVERNANCE REPORT L&T INFRA INVESTMENT PARTNERS TRUSTEE PRIVATE LIMITED The Board of s provides leadership and guidance to your Company s management and directs, supervises and controls the activities of your Company. At present, the Board comprises of two s viz. Mr. S. V. Subramanian and Mr. T. S. Sundaresan. CORPORATE GOVERNANCE VOLUNTARY GUIDELINES 2009 Your Company has familiarized itself with the requirement of the Corporate Governance Voluntary Guidelines 2009 issued by the Ministry of Corporate Affairs, Government of India. A gist of the compliance of your Company with the said guidelines is given below, to the extent not covered by the Corporate Governance Statement in the earlier part of this Report: REMUNERATION OF DIRECTORS The s are paid sitting fees for attending the meetings of the Board and do not draw any other remuneration. INDEPENDENT DIRECTORS All the s of your Company are independent as defined in clause 49 of the Listing Agreement in the sense that none of them is involved in day to day management of the Company. NUMBER OF COMPANIES IN WHICH AN INDIVIDUAL MAY BECOME A DIRECTOR Your Company has apprised its board members about the restriction on number of other directorships and the s do comply with the same. STATUTORY AUDITORS Your Company does not advocate rotation of Auditors as envisaged in these guidelines in view of the domain knowledge possessed by the Auditors. For and on behalf of the Board of s, S. V. SUBRAMANIAN T. S. SUNDARESAN S-2411

3 COMPLIANCE CERTIFICATE THE MEMBERS OF L&T INFRA INVESTMENT PARTNERS TRUSTEE PRIVATE LIMITED We have examined the registers, records, books and papers of L&T INFRA INVESTMENT PARTNERS TRUSTEE PRIVATE LIMITED (the Company) as required to be maintained under the Companies Act, 1956, (the Act) and the rules made thereunder and also the provisions contained in the Memorandum and Articles of Association of the Company for the financial year ended on March 31, In our opinion and to the best of our information and according to the examinations carried out by us and explanations furnished to us by the Company, its officers and agents, we certify that in respect of the aforesaid financial year: 1. The Company is registered under CIN No. U67190MH2011PTC with the Registrar of Companies, Maharashtra and having its Registered Office at 3B, Laxmi Towers, C - 25, G Block, Bandra - Kurla Complex, Bandra (E), Mumbai has kept and maintained all registers as stated in Annexure A to this certificate, as per the provisions and the rules made there under and all entries therein have been duly recorded. 2. The Company has duly filed the forms and returns prescribed under the Act and the rules made thereunder as stated in Annexure B to this certificate with the Registrar of Companies, Maharashtra or other authorities within the time prescribed under the Act. 3 The Company being a Private Limited Company has the minimum prescribed paid-up capital and its maximum number of members during the said financial year excluding its present and past employees of the Company during the year under scrutiny is less than 50 and the Company: (i) has not invited public to subscribe for its shares or debentures; and (ii) has not invited or accepted any deposits from any personas other than its members, directors or their relatives. 4. The Board of s duly met 4 (Four) times on the under mentioned dates 23rd April, 2012, 17th July, 2012, 17th October, 2012 and 21st January, 2013 in respect of which meeting proper notices were given and the proceedings were properly recorded and signed including the circular resolution passed in the Minutes Book maintained for the purpose. 5. The Company was not required to close its Register of Members during the year. 6. The Annual General Meeting for the financial year ended on March 31, 2012 was held on 26th November, 2012 after giving due notice to the members of the Company and the resolutions passed thereat were duly recorded in the Minutes book of the Company. 7. One Extra-ordinary General meeting was held during the financial year after giving due notice to the members of the company and the resolutions passed thereat were duly recorded in the Minutes Book maintained for the purpose. 8. The Company being a Private Company, Section 295 of the Act is not applicable. 9. The Company has not entered into contracts falling within the purview of Section 297 of the Act. 10. The Company was not required to make any entries in the register maintained under Section 301 of the Act. 11. As there are no instances which are covered by the provisions of Section 314 of the Act the Company was not required to obtain any approval from the Board of s, Members and Central Government. 12. The Company has not issued any duplicate share certificates during the financial year. 13. The Company has: (i) delivered all the certificates on allotment of securities in accordance with the provisions of the Act. However, there was no transfer or transmission of securities during the financial year. (ii) not deposited any amount in separate Bank Account as no dividend was declared during the financial year. (iii) not required to post warrants to any member of the Company as no dividend was declared during the financial year. (iv) duly complied with the requirements of Section 217 of the Act. 14. The Board of s of the Company is duly constituted. There were no appointment of additional director, alternate directors and directors to fill casual vacancy during the financial year. 15. The Company being a Private Company, the provisions of Section 269 of the Act with regard to appointment of Managing or Whole-time or Manager are not applicable. 16. The Company has not appointed any sole-selling agents during the year. 17. The Company has obtained the necessary approval of Central Government/Registrar for alteration of its main objects. The Company was not required to obtain any approvals of the Company Law Board, Regional or such other authorities as are prescribed under the various provisions of the Act. 18. The directors have disclosed their interest in other firms/companies to the Board of s pursuant to the provisions of the Act and the rules made thereunder. 19. The Company has issued 90,000 Equity Shares during the financial year and has complied with the provisions of the Act. 20. The Company has not bought back any shares during the financial year. 21. The Company has not issued any preference shares nor any debentures, hence there was no redemption of preference shares or debentures during the financial year. 22. There were no transactions necessitating the Company to keep in abeyance the rights to dividend, right shares and bonus shares pending registration of transfer of shares. 23. The Company has not invited/accepted any deposits including any unsecured loans falling with in the purview of Sections 58A during the financial year. 24. The Company has not made any borrowings during the financial year under scrutiny. S-2412

4 25. The Company has not made any loans and investments, or given guarantees or provided securities to other bodies corporate in compliance with the provisions of the Act. 26. The Company has not altered the provisions of the Memorandum of Association with respect to situation of the Company s registered office from one state to another during the financial year under scrutiny. 27. The Company has altered the provisions of the Memorandum of Association with respect to the objects of the Company during the financial year under scrutiny and complied with the provisions of the Act. 28. The Company has not altered the provisions of the Memorandum of Association with respect to name of the Company during the year under scrutiny. 29. The Company has altered the provisions of the Memorandum of Association with respect to share capital of the Company during the financial year under scrutiny and complied with the provisions of the Act. 30. The Company has not altered its Articles of Association of the Company during the financial year under scrutiny. 31. There was no prosecution initiated against the Company nor were any show cause notices received by the Company and no fines or penalties or any other punishment has been imposed on the Company during the financial year for offences, if any, under the Act. 32. The Company has not received any money as security from its employees during the financial year. 33. As there were no employees during the financial year the Company has not deducted any contribution to Provident Fund. ALWYN D SOUZA & CO., Company Secretaries (ALWYN P D SOUZA) (FCS.5559) (Proprietor) Certificate of Practice No.5137 ANNEXURE A ANNEXED TO THE COMPLIANCE CERTIFICATE DATED Registers as maintained by the Company 1 Application for and Allotment of Shares Register 2 Register of Members U/s Register of Charges U/s Register of Transfers 5 Register of s, Managing s etc. U/s Register of s Shareholdings U/s Register of Contracts U/s Register of Contracts, Companies and Firms in which s are interested U/s. 301(3). 9 Board Minutes Book and General Body Minutes Book Under Section Books of Accounts U/s Note : The Company has not maintained the following registers as there were no entries / transactions to be recorded therein 1. Register of Investments under Section 49(7) 2. Register of deposits under Section 58A ANNEXURE B ANNEXED TO THE COMPLIANCE CERTIFICATE DATED Forms and Returns as filed by the Company with the Registrar of Companies, Regional, Central Government or other authorities during the financial year ending on March 31, Form No. 5 i.e., Increase of Authorised Capital filed under Section 95 of the Companies Act, 1956 for with normal filing fees. 2. Form No 2 i.e. Allotment of Equity shares filed under Section 75(1) of the Companies Act, 1956 with normal filing fees. 3. Form No 23 i.e. Registration of Resolution filed under Section 192 of the Companies Act, 1956 with normal filing fees. 4. Form No. 23AC-XBRL and Form 23ACA-XBRL i.e., Balance sheet filed under Section 220 of the Companies Act, 1956 for the year ended March 31, 2012 with normal filing fees. 5. Form No. 20B i.e., Annual Return filed under Section 159 of the Companies Act, 1956 for the year ended March 31, 2012 with normal filing fees. S-2413

5 INDEPENDENT AUDITORS REPORT TO THE MEMBERS OF L&T INFRA INVESTMENT PARTNERS TRUSTEE PRIVATE LIMITED Report on the Financial Statements We have audited the accompanying financial statements of L&T INFRA INVESTMENT PARTNERS TRUSTEE PRIVATE LIMITED ( the Company ), which comprise the Balance Sheet as at March 31, 2013, the Statement of Profit and Loss and the Cash Flow Statement for the year then ended, and a summary of significant accounting policies and other explanatory information. Management s Responsibility for the Financial Statements The Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position, the financial performance and the cash flows of the Company in accordance with the Accounting Standards referred to in sub-section (3C) of Section 211 of the Companies Act, 1956 ( the Act ). This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error. Auditors Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Company s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion and to the best of our information and according to the explanations given to us, the financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India: (a) in the case of the Balance Sheet, of the state of affairs of the Company as at March 31, 2013; (b) in the case of the Statement of Profit and Loss, of the loss for the year ended on that date; and (c) in the case of the Cash Flow Statement, of the cash flows for the year ended on that date. Report on Other Legal and Regulatory Requirements 1. As required by Section 227(3) of the Act, we report that: a. we have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purpose of our audit; b. in our opinion proper books of account as required by law have been kept by the Company so far as appears from our examination of those books; c. the Balance Sheet, the Statement of Profit and Loss, and the Cash Flow Statement dealt with by this report are in agreement with the books of account; d. in our opinion, the Balance Sheet, the Statement of Profit and Loss, and the Cash Flow Statement comply with the Accounting Standards referred to in subsection (3C) of Section 211 of the Companies Act, 1956; e. on the basis of written representations received from the directors as on March 31, 2013, and taken on record by the Board of s, none of the directors are disqualified as on March 31, 2013, from being appointed as a director in terms of clause (g) of sub-section (1) of Section 274 of the Companies Act, For B B S R & Co. Chartered Accountants Firm s Registration No: W VIJAY MATHUR Partner Membership No: S-2414

6 BALANCE SHEET AS AT MARCH 31, 2013 Note no. As at March 31, 2013 As at March 31, 2012 EQUITY AND LIABILITIES Shareholders Fund Share capital 3 1,000, ,000 Reserves and surplus 4 (491,503) (107,732) Current liabilities Other current liabilities 5 175, ,732 TOTAL 683, ,000 ASSETS Current assets Cash and cash equivalents 6 656, ,000 Other current assets 7 27,393 TOTAL 683, ,000 The accompanying notes form an integral part of this Balance Sheet. 9 The Notes referred to above form an integral part of this Balance Sheet. As per our attached report of even date For B B S R & CO. Chartered Accountants Firm s Registration No: W VIJAY MATHUR Partner Membership No: For and on behalf of the Board S. V. SUBRAMANIAN T. S. SUNDARESAN S-2415

7 STATEMENT OF PROFIT AND LOSS FOR THE YEAR ENDED MARCH 31, 2013 Note no For the period May 30, 2011 to March 31, 2012 REVENUE - - Other Income - - Total Revenue - - EXPENSES Other expenses 8 383, ,732 Total Expenses 383, ,732 Loss before tax (383,771) (107,732) Tax expenses: - - Current Tax - - Deferred Tax - - Loss for the year/period (383,771) (107,732) Earning per equity share: 9(4) Basic (14.08) (10.77) Diluted (14.08) (10.77) The accompanying notes form an integral part of this Statement of Profit and Loss. 9 The Notes referred to above form an integral part of this Statement of Profit and Loss. As per our attached report of even date For B B S R & CO. Chartered Accountants Firm s Registration No: W VIJAY MATHUR Partner Membership No: For and on behalf of the Board S. V. SUBRAMANIAN T. S. SUNDARESAN S-2416

8 CASH FLOW STATEMENT FOR THE YEAR ENDED MARCH 31, For the period May 30, 2011 to March 31, 2012 (A) Cash flow from operating activities Loss before taxation (383,771) (107,732) Operating cash flow before working capital changes (383,771) (107,732) Adjustments for (Increase) in current assets (27,393) - Increase in current liabilities 67,268 6,732 Increase in provisions - 101,000 Cash used in operations (343,896) - Income taxes paid (incl TDS) - - Net cash flows used in operating activities - A (343,896) - (B) Net cash generated from investing activities - - Net cash generated from investing activities - B - - (C) Cash flow from financing activities Proceeds from issue of share capital 900, ,000 Net cash generated from financing activities - C 900, ,000 Net Increase in cash and cash equivalents - (A+B+C) 556, ,000 Cash and cash equivalents as at the beginning of the year 100,000 - Cash and cash equivalents as at the end of the year 656, ,000 Note: Cash and cash equivalents comprise of balances with bank As per our attached report of even date For B B S R & CO. Chartered Accountants Firm s Registration No: W VIJAY MATHUR Partner Membership No: For and on behalf of the Board S. V. SUBRAMANIAN T. S. SUNDARESAN S-2417

9 NOTES TO THE FINANCIAL STATEMENTS 1. BACKGROUND L&T Infra Investment Partners Trustee Private Limited ( the Company ) was incorporated on August 12, 2011 under the Companies Act, 1956 and obtained the certificate of commencement of business on the same date. The Company is a 100% subsidiary of L&T Infrastructure Finance Company Limited. The Company is engaged in the business of providing trusteeship services in the financial services sector. 2 SIGNIFICANT ACCOUNTING POLICIES 2.1 Basis of preparation of financial statements The financial statements are prepared and presented under the historical cost convention, on accrual basis of accounting and comply with the accounting standards prescribed in the Companies (Accounting Standard) Rules, 2006 (to the extent applicable) and in accordance with generally accepted accounting principles and the provisions of the Companies Act, 1956, ( the Act ) to the extent applicable. 2.2 Use of estimates The preparation of the financial statements in conformity with the generally accepted accounting principles requires the management to make estimates and assumptions that affect the reported amount of assets, liabilities, revenues and expenses and disclosure of contingent liabilities on the date of the financial statements. The estimates and assumptions used in the accompanying financial statement are based upon management s evaluation of the relevant facts and circumstances as of the date of the financial statements. Actual results could differ from the estimates and assumptions used in preparing the accompanying financial statements. Any revision to accounting estimates is recognized prospectively in current and future periods. 2.3 Taxation Current tax Income tax expense comprises of current tax (i.e. amount of tax for the period determined in accordance with the income tax law). Provision for income tax is recognised on an annual basis under the taxes payable method, based on the estimated tax liability computed after taking credit for allowances and exemption in accordance with Income Tax Act, Earnings per share ( EPS ) The basic earnings per share is computed by dividing the net profit attributable to the equity shareholders for the year by weighted average number of equity shares outstanding during the reporting year. Number of equity shares used in computing diluted earnings per share comprises the weighted average number of shares considered for deriving basic earnings per share and also weighted average number of equity shares which would have been issued on the conversion of all dilutive potential shares. In computing diluted earnings per share only potential equity shares that are dilutive are included. 2.5 Provisions and contingent liabilities The Company recognises a provision when there is present obligation as a result of a past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation. A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources. When there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made. Provisions are reviewed at each Balance Sheet date and adjusted to reflect the current best estimate. If it is no longer probable that an outflow of resources would be required to settle the obligation, the provision is reversed. Contingent assets are not recognized in the financial statements. However, contingent assets are assessed continually and if it is virtually certain that an inflow of economic benefits will arise, the asset and related income are recognized in the period in which the change occurs. S-2418

10 NOTES TO THE FINANCIAL STATEMENTS (Contd.) March 31, 2013 March 31, SHARE CAPITAL Authorised 1,00,000 (Previous year: 10,000) equity shares of R 10 each 1,000, ,000 1,000, ,000 Issued, subscribed and fully paid up 1,00,000 (Previous year: 10,000) equity shares of R 10 each 1,000, ,000 1,000, ,000 Reconciliation of number of shares At the beginning of the year 10,000 Addition during the year 90,000 10,000 At the end of the year 100,000 10,000 Terms/Rights attached to Equity shares The Company has only one class of Equity shares having a par value of R 10 per share. All these shares have the same rights and preferences with respect to payment of dividend, repayment of capital and voting. In the event of liquidation of the Company the holders of the equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders. Equity Shares held by Holding Company and its Associates The entire issued, subscribed and paid up equity shares 1,00,000 is held by the holding company, L&T Infrastructure Finance Company Limited Details of shareholding more than 5% shares in the Company L&T Infrastructure Finance Company Limited (100%) Each holder of equity shares is entitled to one vote per share. 4 RESERVES AND SURPLUS Balance in the Statement of Profit and Loss At the beginning of the year (107,732) Additions during the year (383,771) (107,732) Balance at the end of the year (491,503) (107,732) 5 OTHER CURRENT LIABILITIES Payable to holding company - 6,732 TDS Payable on professional fees - 10,000 Payable to auditors 125,000 91,000 Other payables 50,000 - TOTAL 175, ,732 6 CASH AND CASH EQUIVALENTS Balances with bank in current account 656, ,000 TOTAL 656, ,000 S-2419

11 NOTES TO THE FINANCIAL STATEMENTS (Contd.) March 31, 2013 March 31, OTHER CURRENT ASSETS Service tax credit receivable 27,393 - TOTAL 27,393-8 OTHER EXPENSES Legal and professional charges 116,500 6,732 Filing Fees 24,480 - Sitting Fees to s 60,000 - Miscellaneous expenses 7,791 - Payment to auditors As Auditors 125, ,000 For Taxation Matters 50,000 - For Company Law Matters - - For Management Services - - For Other Services - - For Reimbursement of expenses - 1,000 TOTAL 383, , NOTES TO ACCOUNTS (1) Contingent liability/capital commitment The Company does not have any contingent liabilities/capital commitments as at March 31, 2013 (Previous Year R Nil) (2) Segment Reporting The Company operates in only one business segment viz. trustees to venture capital fund and all of its operations are in India. Accordingly, the financial statements are reflective of the information required by Accounting Standard 17 on Segment Reporting prescribed by the Companies (Accounting Standards) Rules, (3) Micro and Small Enterprises: There are no dues to micro and small enterprises as defined in the Micro, Small and Medium Enterprises Development Act, 2006 which are outstanding as at the Balance Sheet date. This Information has been determined on the basis of information available with the Company. (4) Earnings per share In accordance with Accounting Standard 20 on Earnings per share as prescribed under the Companies (Accounting Standard) Rules, 2006, the computation of earnings per share is set out below: Profit available to equity shareholders (A) Loss after tax (3,83,771) (1,07,732) Weighted average number of equity shares Number of shares at the beginning of the year 10,000 - Shares issued during the year 90,000 10,000 Total number of equity shares outstanding at the end of the year 1,00,000 10,000 Weighted average number of equity shares (B) 27,260 10,000 Nominal value of equity shares 10/- 10/- Basic earnings per share [(A)/(B)] (14.08) (10.77) Diluted earnings per share [(A)/(B)] (14.08) (10.77) The basic and diluted earnings per shares are the same as there are no dilutive/potential equity shares issued. S-2420

12 NOTES TO THE FINANCIAL STATEMENTS (Contd.) (5) Related party disclosures Related parties with whom a controlling relationship exists and/or with whom transactions have taken place: A Holding Companies L&T Infrastructure Finance Company Limited B Subsidiaries Nil C Fellow Subsidiaries Nil Key Management Personnel Nil Details of Related Party transactions March 31, 2013 For the period August 12, 2011 to March 31, 2012 Holding Company: L&T Infrastructure Finance Company Limited Subscription to Equity Shares of the Company 10,00,000 1,00,000 Reimbursement of Expenses Incurred Nil 6,732 Balances as at year end Outstanding payable L&T Infrastructure Finance Company Limited Nil 6,732 (6) Previous period figures are not comparable to that of the current year as the previous period financial statements were prepared for the period 12 August 2011 to 31 March As per our attached report of even date For B B S R & CO. Chartered Accountants Firm s Registration No: W VIJAY MATHUR Partner Membership No: For and on behalf of the Board S. V. SUBRAMANIAN T. S. SUNDARESAN S-2421

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