KAUIILYA IINANCE BV,

Amsterdam/ Netherlands

S-No. I

INFORT'-{TION MDITOR \ ND I JO'DISCLOSURD DOCUMNNT(FOR PRI\r\ | i' CIRCLJi-ATlOi\i ONLY)

SHREE VARDH\'IAN ]IUlI-DI'ROP PRIVATE LIMITID

DOCUMINT CONr,{TNING DISCLOSUIIIS AS ttri{ SCHEDULT I OF SEBI oSSUEAND LISTING oI DlBl SIC1JRI rl!s) RLCUIA rloNs,2003 AND AS SUBSTITUIEDBY SE}T OSSUI AND LIS'|INC OT DIA'' SFCURITIES) (AMENDMENI)RECULATION9 2014 AND IORM \'o PAS 4 ITURSUANT TO SECTION 42 OI THECOMTAN$S ACT, 201' AND RUI-E T4O) OF COMTANIES (PROSPECTUS

^NDAtloTMlNT OF SECURITIIS) RUI-'S, 2014

IgSUE !Y SHRIE VARDIIMAN JJIJIIDPROP PIIIVATE LIMITED OF UrIO 35

(TqtRTY lrvq NUMBER Or'lO-Bri LlSrliD, RAIED, SINIO& rULlY SECURED

REDEIMABIE TRANSIDITAIII,IJ, IN'IEI{TS'1-BEARING NON.CONVERTIBIEDEIJENTURIS OT IACE VAIUI OIJ I NR 1,Ol],O(),O(ll)/. ONDIAN RUPIIS ONE CRORE

ONLY) !ACt4 AGGRTGATING '] O 35,OO,OO,OOI/ (IND]AN RUPEES THIRTY FTV!CRORES ONLI T'DEI]TN UN!S", 'IO I]I ISSUID AT IAR ON PRIVATE

TIACEMINI BASIS lT ] "ISS!JII"]

Tt? Debentures nentioned heFin ar. noL olfu'rd for ile or subs.iption to Or pnbli., but are

being privately placed wis. a liniLd nnnrid .l eligiLld nN8to$ This DisdNre Doonont (as

dEfn.d rdar4fd) is plated t L\e DctcnhLrrs tri bo nsued by Shree Vddhmm Btrilpro! PrivateUnited (Ure 'ksuer'ar 'Co\pa.y ) qr a priv.le Fldement basis and cmr.iN r.levdtinfomatid and dis.losurs lequiied ror tl'c purp.* or Gsuing the Debentufts. The issue of theDebentures conprised in dp lssue ami .ies.Libed undeL dri5 Disclosure Documenr has beetraurhori4d by the lssler throlglr a resolLdons ri.ri]|i by tlie board of distrrs of the lssuer on15s IIat 2016 ad 16s Ma, 2016 kopi!. ol r'l,i.n i: n(hded in ure ,\mdftes at dre end olthis DisdN!re D(rnenq md by s May, 2015(.opt or -hich isinchded in the Amexlres at thc o or rl ir l)ii.losu, e Doenent) dd in accorddce wiL\ L\cpovisioE or Lhe Act (ar d4rd ruri,ml. ) I h( llGd$ure DocumeN should not be keated 6d offe. fo. sale, or solicitabon of an offd ro hrl, lhL l)cL{otures as presaibed he€in by dypeism who hns nol b.c'n povided anh .i .orr or tl,h D s.losure Docmeni. Tiis DisdsrreDe!'nenL coes not coNtitut d olfer Lr : Jc )f tr sol citaridr of an offer to buy Ure DeLenturesas descnbed hcrh hom.ny pe$oi' oti, rlrd, dr te,s.i whose.are appcars on thc coverpage or oris Discloslre Docu,rert No ;.r$u orl,cr dun sudr persoo seivinS a seriauynunb.red copy of ihis do.umcsoli.itrtion ol an olter to buy, lhe D.beni I i.;s

GENERAL RISKS

tnvestors de advis"d to 6cck indopcndcn{ advis. for conplid.e wi0r applicable regulation ofthe Se.lriEes and lrcnanSe Board ol llrdii {'sEsr ) for slLscription ol tha Dabcnturcs. SEBI, as

a policy des not rcolmend or ipp$v. a,ry issr nor docs SEBI grllrmte dE rcuracy orade$a.y or lhjs Disdosure Do.fi.nt. l.co,dnBry, rlris Dis.lcm DNm6r h6 not be$submited, deared or approved by srBl.

RI5K5IN RTLANON TO THT TRADI\'; OI 5 CURI-ITsThcrc hd lton m formal mdkci Jor L\c sc.u hcs ol the Conpdy. No a$u!ar@ can be givenreSddhg d active or s*tained kading nr thc sc.ui hcs of thc Company or rgardinA dre prieat which tnc securities wil bo trarlcd dfto listinS.

ISSUER'S ABSOTUTE RESIONSIRILIIf '

The ksuer having made all €asonable tdrier ....pb Lesponsibili9 tor md corJiins, drat dreinfomation sntained in this Dis.losure Dlcrn,ent onhns aI the iifolrmiion wiih re8ard bthe hsuer and the ksue, which is ateriiL n Llk conterl oI fie lssuc md dEt ihe inlornaiioncontained ir this Dislosue Doclment is h uc .nd .orod in all r€sp{Il dd b not mislading inmy respect, that this Disclosure Docur.nt dors not.onrain any urlrue or nissralemenls, rhatihe oPiniore dd intentioro expresed hercnr are honesdl held dd that th@ are no other tacts,rhe oni$ion oI which nales this Di{losure Docrnrcnt as a whole or any oI such intomation orthe dpftsion oI dy snch opiniom or ntntio$ misleadinS in any lespect md notning natarial

The DebmtuEs propos€d to be isn'ed !v 0rr l$ucr halo boen rated by credil Analysis &Re€archltd. Credit Analysn & Resoarch Ltd.1Fs v e iri letter dated May 16,2016 affirmed ardtjq.t "BB" (Dduble tsB') n rcspdt oI tlrc Debcntures The rating is not a rconnendation iobny, sell or hold dE dted debt. The jtrLrne nra), bc n,bject [o suspension, ievision or withdmwald dt dne by UE 6sig'nr8 nUnS agen.r lherihnllagencyhasanghtbrevip,suspendorwitMraw the iating at any ti(e on $e bals oI new lnfonatior or mavailaln[ty of iJormationor such cncffibnc$ which L\c rating ascncv bcli.\ es nny have m impact on ib rating. Forturther details including in iesp{t ot rh!

'rtiondft n' {rr crdit nting, please rter to raiing

letler daled May 16, 2016 eNlosed as Anne\ure lo this discloslre ddunent.

IISTINC'Ihe Debmhrs de proposed to be lilted on ihe rflrolesale Debt Md(et Segment ('WDMs%nent' ) ot asE united ("BsE")

ISSUE CI,OSINC DAT!

E!qli !&tlCa4!4\r!!'

alho huor reseres the righr to change UEsubsdiption ai the commencemenr ol bdrkinf

DE3ENTURE TRUSIEIDB! Trusteeship S€ryices Linited,Asid Btrildin& Grcund Flooi,1?, R. IGnani Mdg, Balldd Estate,

lssuc PDgndme. The ks@ vill be open lorhorrs and .lose ai ihe closure oI the banling

RECISTNAI{ TO ISSUEAlar*it AssiSmors Lrd.

?05-203, Antr.liali Compld,Jhandewald Exteroioi, NowDelhi- 110055

shall me.n individually m.l colctivet, ruch relevmtProvisions or the Companies Act, 1956 which de still inrorce ind ellecl and tnos provisioc ol the ConpaniesAct, 2013, rvhi.h have been notiliod md de in tull Io@and r.Ifc.t, and all amendmenrs,cnichnents or modlicatiore thereol, ftom timc to tineiNluJnre LIe rlles and iegdatiotu pr€scnbed tlerein.

*an Dean ihe date on which tne Debenhres are issucdand allotcd by the company, which shall be rne s.@dale on wlri.h $e payment ol the Subscnpdon Anoutis nRle L! the eligible invosrors ro oE conpanyLoLarJs subs.ription oI Dcbenurcs.

shall rnean.nl $atutos, emcdoli, acrs oi legislatue orparliad)ont, ordinances/ ruleq buildinS bye laweregul.rio's, noiiJicanons/ guidelifts, dnrtives 3ndordor or any 8ovelnment; sraturory, nunicipal o!rogulfbrv aurrroifty, tribunal, bond, cdrr,Covrao'nrrtal Alpruvals, gui.telner 4quiremenr or.trrer gle.rtu'lltrl reshiction dd, inclu<les TneHary.i.a Development dd Rasutation ot Urbm Aftas

shall Lnean in relation to 6e Debenturu, aI tntciost (ducand fdy.ble), Default Int€rest, cosrs (inddinS leSalcosts on Iuu indemnty basis), cnarges, expemes,conmnsDns, lees (ilcluding the rmaeration ol theDebdnrurc Trustee and expenses layable to fieDebenture Trustee, Utilization Esaow Agent, ProjectRcvcnue Es.bN Agent and the leceivd), a! listing leeald .harg.s for lishng the Debenhrles on dF WDMseSnr.nt ol thc BSD au depository fe6, aI fecs andexpenses lor oblairing credit ratin& aU Taxet duetdutics, lcvi.s, ccss nrdudi!8 stamp duty, reSisharionand otho, Iees ind charges payable by dre Conpdy,D55 oL P,onoters with respe.t to o. or Ure DetnritiveA8i.{!nents ifttding those payable lor dre negoriahon,prcpar.inm, .xc.urion, .egishatio4 preseruatioh,prote(ion and enfo(emert of tie Definitive sp.ments, as nuy be oubtmding/ payabre at anygivon dal,, excludnrg however the Redempiion A@utin resplcr oI thc Debmtues, md wnerer the contexttuy rcquue, slall nea dre aSSiegate of alorenotionslamourb nr rcsp..t of the Debentures,

IAlt .-; .nd dre rules/res arioc Nde rhercuddcr,

lhe sliBr (issre .nd Usting o! Debt S&ntietReSuhrions, 2!08, lhe sEBl (l,isting obliSatiotu ddDisclosurt ltequiiements) RegulatioN/2015, debtlistinSagrccnur pr.s.ibed by Bsq lsuace ol Non-conv.rdll!: Deberbres (RcseNe aa*) Direciiotr, 2010,lrorciSn lir.harge Management (T!a$fer or Issue oISecuritl, by a Pc6on Residdt Outside lndia)Regul.nionr 2000, and other applicable circulars ddnohfi.ati.ns issue.t bv RBI and SEBI lrom rimc to timc.

sh.[ nran dr prior written iNEuction or approval oIsuch nunber ot Debenture Holdes, col{tive]y nouingat l*st 5lt (Fiity One pe(dt) oi rna prin ipar ahourtor tlc Dcbcnturcs outslanding at my p.ht .i time. It itclarilicd th.t &e Suberiler shal at all tim6 hold notless thu 51% (lilty one pdcant) oi the Debentusoulst.rndnr8 at any poinl of tine, other than afte! aporiod oJ 90 davs frcm rlate of issue ol a Delarlt Notic.

Bodd/BoddofDnecbrs

stall mean ihe adictes ol aseocabon of the Conpany or

^,b!l!5 nJ A!pl()ble Lan.

slrall disar . day (other thd a sntuday or Sudaypubli. holida) wi6nr the meuirg of Sstion 25 olNcgoli.bh hlbumenr Act, 188T) on which bml€open for gercnl blsilcss in D€hi.

sha! mean lhe ag8"gate cosls hd expses i€mainingb be nNriicd (or conpletion ol coctructior andd.vlbpnenr ot the Project, which s!al, u ess othcfliscrppruved b! drc Dlbcnture Trustee {acting on Approvedltutrn.rions), nor .xcccd tne anount of Rs. 35,00,c0,000/-(lndian Ru+es lhirty live crores Only),

BSE

Collahorarion Documents shall hi!, rhc ne.lug as.ribed

Shrec VarJhrar Blildprop Private Limited, a onpanynrcorpofled aDll reSisLcred ddd the Compmies A.t,19s6, hrvinti CIN U70200D12m0PTqI99363 and lavnrgns pra{.trd o(i.e at 101, hdnphkash Buildin& 21Ddralh,nrL., lorLl,N!\'DeDr11000l,

CohpMy Piedged Snees

shall mean trp to 35 (tiirry five) number olrully sccnili, tobe listd4 redemable,interc*-bRi jng non'.onv.rtible debenturesol INR 1,00,00,000/ (lndid Rlpees One.ach ro bc issued by lne comPany,

(i) dr dNitr shaPs, onstitutus 100% (one ludredpe,tent) oI dre total irsued/ subsaibed md paid-u!dguiiv elure capital or the compdy (tatm on an,[y dihled b*is) held by tho ?romoteis in amanrer set forth in the Debentde Tnst Dee4 md

(iL) s'.h ot dre addition.n shares, whether by way olbonus or ignb is ! or conwersion or othemisqind ,nry lctllr of audtmdt or otler isklnents inr.lation tiereto and inshuments oi othr pbpertyrron tnne to tme received, r@ivable o! dishibut€din Gf(t oi of in cxchuge for my dd all ol thes..uriiids, Fferclt b in ihe Ioregoing pdt (i) ol thhdetuiti.n, as more laltiolarly detailed in dre snare

Flcdgc .rgrcment to be ex{uted in inis regard.

sh.u hivc thc moding slt fordr h Anrexue I ("Idns o/

shall hav! t|e meaning sot torth h Annerue I ('Tairr o/

shall nrea. the initial subscrib€r dd Or ?or$ns rrhoaLe, for dre Lrmc bchg and iron bne to time, the loldersof tlc Dchnturcs and wlDse nan6 appdr in theregist.r ol dcbentare holde6, maintained hy fieCompany as holdcG of Dcbcntu@d dd shaU include tlebenericial orvler{s) ol the Debentues in demierializ.dloin is |e, th. list .i bcnefi.ial owne4 prepared andnajntiincd try National Se.uities Depository Limibed("NSDI-") and/or cerhal Depository Securiti6 (India)Lim,r.d f1:DSr.1, as Lhc case my be, as per tnepro!$iors .l Ircpositofics Act, 1996, dd "DebentureHoldel' sha Ll Dean each such Person.

shall nlo.r dre account or the ProFd Rovatue EsrowAgdnt, ihcrcnr nn amount equilaldt io the DSRAAmourt \li,Lu Lc mainr.rined by the Conlmy tm thefinil l)is.lurge Date, n term of the De1initirc

:rtti cqtu nre ns Jnd lhe Projdn Revonue Esdoh Aoedenl

Amoul'/ DSRA Anount

NSDI 'r!1,

; :f-l

1

i(,

lhe nscrvc requi&d to he created andby rc eomtrny at an tioer in terN ol thegr.ch$rs anJ tle !rclect Revenue Es.rcwiin dre rinal Djschdgc Date, in the DSRA,

Nount equiyalent to the Inte&si payable onMediato ncxt hterest Paymst Date notmore thd thr lnteest payable for a Qldt€r

amornt oquivalent to the Rcdcn?tionmt patrable on the imediate rcxtnption D.te (wheneve! apdicable) nor behgthdn the Redemption Amht payalle for a

Lnount l hicl is required to be mhtaincd by.,mpan! nr a..orddce with fie Act, and tire

r.gulntionr notifi.atiore a cilculast b tln, Nlinistry ol Corporate AllaiBling rhe Circular No. 04/ 2m3 datedary 11, 2013, as amended 6om tine to time,I b, tlre Minisky ol corponte Aifais notless llwr l51i oI ihe Debenb.6 ortstmding

DSIA Amonnt includesrption rcserve required to boohFnr The l)S&\ Amostrm of P.nnitr.J Investments.

drc d.bentlre trust deed, h lom and.ccptaLrle to lhe Compay dd Delsture\i.h slull bo €xecuted inb4lia by ddt con|an!, DSS, ?romoteB and therusr.q i. relnrion to tha Debennres.

r€ nemnrS sL foith in ametr€ i ("Ta,,s o/

an! a .ll nonies/ @6b Heive4tntl, o', 1o br r..eived by rle Conparyindirc.dy, nr dy forr! ituluding csb

'nanJ.infB, tay orde4 electsonic hansler orr lon a.d all su.h nmi*/ momts, wfth

any p.),n,!nc (.eived or to be r(eived flonexisting.nl nev buye6/ slomds (md, or,tnen hndc6/ bads whicl have ertendedrinan.ial assistance to suchbuyers/.rstonds)hon anv land are.? !un!!p area and, or,srleaLile irra in the Prcj*t (hcluding withouthrrtahon Lhe riistinS sord unib and theun$ld Lnirs), inclldinS as sle.otuidcmtion,booknrss amoung advmc6 torrards basicsaLc pricc, dd .idges for amenities, .lubcharSes, parking.harges, p&ferenrEl locationchargcs, cxtenral developnent clarges,hLctu.l dev.lopmmt chaiges, exhaeLochiJication charyes, trmler charges,.ancellahon ch.r8os, seNice tax dd/ myanounls as inreEst or delayed paynents,e\cepi to the ertent of ammrs which havealicady be.n ideived by the Comldy mdG.d1 th. c\isting buye6 of the uits.. It is.larilicd rhit sal! of any UMld Units shall besubject ro rhe provisids of or Debenture

re dn(ts/ r{ei}is from debtors, crediLos,.ont.cro's, rcmo*, any ober peson or anycovohnre.iir Autholity (os t'fned bctau)nr.ludinS tax relunds received in retarion to

ituurtD.e prcceeds fron iNlrdce compdieswith whn h the Iloject is iNured;

Thn DisdosuF Docu'nentDcbentu&s r,e b.nrg ofieFd lor

bank/ctrn, balance in relarion to the Projed,

n)nns i'rfused into lhe Conpany in theh.nnrer stared in the Debatue Ttust Deed 10rpuryosos ol meeting Conthg{cy Amoue

TIE anounrs ndtioned jn sbdause (t ro (iv)above (both iiclusive) are relered to as the

eamed on dy Permitted

DP

Intere5t Cometrchent Date

I)SS INTIIASTRUCIUNIIJ IRIVATE LIMITED, A.omprny incortorited md lcgistersd 6der the

dr! rne.$r18 a\cribed [o ir in $e Debenh4

CINU70109DL2003P1C131373, md havirg its legisteredollicc it 309, Third Floo,, lndraprakash Buildin& 21BaEknanba Roall, N.w Delhi110001.

th. cquiiv shires, .onstituting 100% (one hudrcdpercnt) ot the totil issue4 subsoibed and paid upeqritv share cdpirrl ot DSS (talen on a tuIy dnutedbasis) hclrt by dre Company on its om md ttrdgh ib

shau hav. th. mining ascribed to it in iho Dehenture

mear tle date of crpny oi 4s (lorb' livd months

shall nean tlr lrtom. Tai A.1,1961, a6 amended tronrtime to tnnc and any Applicable Law, replacin&supFlL'mcnth8, snLstitutin8 Oe lrEone Tax Act, 1961,and which 8overns thc h.onc rd regin€ in India.

shrl €an L\e rnteresr payable on tne ontstandingprnrcipal amoMr of thr Dsbentures, at tle ntesnenrioned in rrnncxue I ('Ta,B o/Isre'], calculacdon |er dnt actlil b.sis in the ll12mer m@tioned in tleDebenturc Ttust Dood, acctued, .ompounded andpaynble Qua*cllt on thc Debmtures, on Se Intercst

shall mean thlr Jal. on whth dro Subscripiion Anount islransrs(oll Jrod uiilizarion lscrow Acout ro thcDSIA and ?rcjsi Revenue Esmw A(odt inac.oii{m.e with the Defi nitiveDocmmts.

srDl nrean the tlalrG) on H hicnthe Conpany at thr cnd ol each Quarrer, as set out in ure

!:I!:rall!siL,l ler l!r! sale of (larity, t}e tst

lnterost l,aymeni Date would be the last date oI rheQurt.r nr whi.h lhc lnte{st Comdcuent Date IaItnotnith*rndinS ure ract Lhat a .onplete Quarhr mayDolhave ehpsed Gon, th. Interest Cometremont Date.Notsithstandhg an)d rt conrained abov€, fie lastlntercst Palment Dare ol rhe Debmttres shall coin idewidr the tinal Redemption Date.

shal m.an rlo ii..n! teiring nunber 69 ol2010, dated11th S€ptonbcr, 2010, issued by DGTCP !) D€S ddorhers wirh respe.t k, dev.lopment of the Prcj4t on thenojat land, Jcad lidi dr order oI the DGTCP bearingEndd. No. 2295-JE(3) 20l r/33193 dated 12$ Mrch,2013, pu6uant to \'lnch the liense was exclGivetyLraNfedcll to DSS, as may be renewed lrcn time ro timein.omplian c wnh Atplicible bw-

Mrteriil Adv6se chtugc

shall dreai n non-intr EstoP!D.r1 af d manrtiinral by

slratl oEan ..c!ron.r of I ry avdt leading to a mateialadv.rsc charSc tl) o' a malcrial advese elie.t on my of

ii) The malerial v.ln[q nr enJorceabili9 oI my ol theDofinitivc A8rednenrs, the mtenal valdity oienfor.Lrbiliiy !I iny of dre trmaciioscontemplato.l drEunder/ or of the mterial riShtsd &medies oI L|e D.$ntme Holders,

{n) Tho mateul vaLdfty or enloEeali1ity ol my 01 theCollxboniioD Do.umrnbj

(nt The Pqd bnd, Llx Prcject, Secuity o! rightstlr lrebenLu,c Uolderr or

shal nEan La.d allnrasuing 11.262 (eleven point two

(n, The idus d validirv of a.y matenal conuacts,Cons,Its or Co\(nb.ntaL Alprovab in iclation to

shal mean ihe srouf nolsing ploject being developedby th. crmtany on L\e Prcject tand uder the nane''hft. Vnt.ihtnFMnrrn', \n., a residential colony beingdeveloped over il\o l,roje.t rmd, 6 nore parricularly.tetailld D $eDeb.ntlrc frust Deed

six iwo) i.res snu.td at viuage Bad$alpui, Sector 6Tol Cargaon \'Ian$a, Urban conller Gugaon as noreFrli.uldny dctnileri ,n the Debentue Ttut Doo4 6n(^id' thr Proj!.t is b( nrg .eveloled by the cohpdy.

beainS .!rmt a<ounr ro bethe cohpany w h dE ?ge.tinto which fuds shail be

Project Operati ng Accou t

-!-e!L:nl|i 4a!4drlt

shall mear d non-iftt'esl lEadng ruient accomt to beopened a.d minlanut br ihe compay widi the PqedReven& Es.row Ag.nt, nr nhich the Dsiglated CashIlows and odu ihouna shall be received anddistributed in a..ordance wittr dre Delinitive

Ch.nd Gnph, rcs cnt oI Hous€ Nmber M2l29,DLI Phase 2, Blo.k \4 Gugaoa 7nN2" agedabour 62 yoa$, h.lnrg PAN AAGPG655n! ddpassporl nun[er K2925312

shall mean the (nlo$ngif dividuals:

(L) SANDIEP IAIN, son oI Stuoa Bhagwm lain,residcnt ol D 314 1. Iloor, Delmc€ Colony, New-Delhi 11002a, rgeli about43 yeds,

(ii) S CHIN IAIN, sJn of Stu@ Bhagwan ]ain,Fsidcnt oi D 209, Croud Floor, Ashok VinrPhas€ I,New Delhi 1100-Zageda!out39yea$;

(iii)RISHI CUPTA, son ol Snlee Ashok (umarGupla Lesident of flouse Number M2l29, DLIPhas!-2, Blo.l M, Curgad- 1220m, aSad abort

(i\rASllOK KUIIAR CUPIA" sm of Shreo laquir

traBflrod/dePostod in

shail mean the follo{irg .onsecutive pdiod ol3 (the4morths ol an lnglish .alenJar year

(t Jmtrer I ro \4aLrh 31:

(iiL) jurv r r) saPtenrblr 30 ind(iv) o.br,c, 1 to DecombcrrLj

Credit Analvsis& Itcsearh Ltd.

'fhc la{lul .urency .t L\e R.public o! India.

ituluJ qllhe nepiyltPrt i rcd ule.

shall have lte neanitrS scl Iorth h Annetue I {"Tetu o/

shall nrcatr ea.h kd e ol the outstanding princlpalamount or the lrcbentures, lrayable !y t& Compmy inLhe manner prs.rib.d nr lhe Dclinitive Agleements

RTGS

S:nclioned Building PIm

stBt

lEnsler f a.ilitl pmvxledsatument, m eleckonic

2011bj,656/tt)

shal mear rhe schodxle lor paynenr oI dr lnteiest mdRedomption Ahomi by th. compmy in relatim to theDcbcntlrcs, as set out 'n re Deboture Trusf D@d

ilr lri,e, in Uris case !,lankit

maf be revised ir lerN ol rhe Debhhie T@t DeedaccounL of any ftupa)rnont by tlo conPsy

"thc, w6r. ir vilw ot L]t InLaestColMscemstDato

RegistFr of Compani.s, Dllhi

shall mean dE buillling fhn dd Iayout plantroject as approved by DCTCP on 15s Februryway of memo bearnrg number Z?(BS)/2011/ I932 .s rcnewcd lrom time n) time

shall mear ihe rolloa,ns p$pcrty on wnich a soie and

9e.r,dre. ;'d E a;.8. !"-d .r r".1,"under the Securities .nd B.hange Bord of1992 (as anonded ft.n tifre to time).

SrBt (lssuc dd Lisliirg ot Debt S@riues) Regdatios,

lo secure tle De!€ntuies, as'l$te Detuik/Suntntin! fefl

2003 (as idended fton Lime to iim), including as

anendad b! SIBI (hsuc. Lisiina of Debt Sedrities)(An"r!imeri)Pc8ul. ro ts 1012.

The slruritr to bc cFateddetailcd in Annexu.- I

erclusiv€ .\arge by way or DFrtgage shall be.roated infavour of tte DcbcDture TNstee ior sectring all dostsduc and .bligation i,r respect oI 0€ Debenhr4s udddre DeliniLile AgreeNcnbl

rlc Proji.' I ard, toSether vifi mybuilding/nruct os that are, or may be.orohuctod ther.on o! are being coNttrcted

'hdeon (u^erhd @mpleted or under

ronstructionJ ami rny stitle(ent to dy IARrisnrg tl\en lroi,, iicluding without linjtationth. UNoltL ulilr, ilong with all fixtures andfiiiing ihtnto rnd all libcrties, pnv eges,..scmcnh nnd lpPurtondces whatsoovor, tosr.h lanLl brg.L\.r with aI proportionate.iehts to and boneliti ol a]l comon ldities/C Ll,hcs, .n cturtr!, .omon retu reaMs to

tl)i

nry .obny or other develoPmeni/.oshlcLior n)nshu.te4 devoloPed or

trp.sed to ir .o6h!.te.l, developedLhqeoo subl(t r. the ighrs, il mt dealed inravour or cxistinS buyds; od

All tho )ights lor development andconsLrucLion on rle Prcject ldd, includhS(i0Dut ln tntion, the nght to constsucLltcvclop, mir(et and seu all sleable ar€as edaU .onmon l.t.ilitics dd infr.stluctuiefelating io lhe P, oj€t togedrer wid1 the dtire[8hts arlt bcrcIits of all govehnstafprovnls i.d ilso irduding lhe light to..nPcl pcrtormr^ce under my agreenent.\{ured jn !esr,e.t or the PrcFd/ PrcjrtL d, drd to substitutc, or to bc substitutcdIor, the Co.rpanl / DsS Lnereuder.

shal mcan d .mo!ft uf ro NR35r0,0!,000 (rndimRupe6 Tii(y livc Crorcs o.Iy), to bo renittod by theeligible investos townrds sL rs.riltid to thc Dcbcnturcsin l.ms ol DebmLure frust Deed md the othei

sh.I moan drc follolving a$ets on which a sole andexclnsive .harlc by wal of hyloth(arion shall b€created nr favour of the Debenhne Trustoa to ffi€ tleSe.urcd Obligations, in tcmrs of the Debenture TrustDood nnd dr. other Dehrinve Aglements:

ilL D.siSmild c.$h Flows? boti cliient dd

all amounrs lying ro the .redit ol t]leLiilizntion Escrorv A(omr ilduding in dEf.rm oI PerfrittcJ Inveslrnents,

all anrounts lyiry to the d€dit oI tne l\oj*tItclcnud liscrow ,\ccourt including in theIdm dl Pdnntted Invesrments;

(i'i)

all amolnts lyinE to the oedit ol lle Proj{lOpar.ninS Accout, including in the fom oIiny iivosinFnis Dade flom sr.h amounts;

311 insurantu pro.Nds which my be gderatedft.m d\e nBnraft r polici6, if dt obtained bythc conpanv i. re[uon to the Proj{t.;

(')

\2

Tru*ccs/ DcbcneTrunee

I<,\UI ILYA IINANCE B\r, a foreign pordolio investorFBisr.Ed und.L lhe 5[B] {roreiSn Por{oLio lnvestors)

Regulations, 2014, wr regishation nunbellNNLfP125515, witl ih ofiice ai APOILOLAAN 151,

Anderdam, Ncthrlands.

IDBI liustccshp ScrlLces Lnn,bd, a compmy regrst€redunder ihe Sc.urties Exchrug. BMd oi hdia (D€benhueTrusleet Regul.rLions, 1993, having its registered office atAsiar Building, Ciomd l1oor, 1Z R. Ka@i Md&Ballar.l Estatd, \'Iuhbai 400 001, anrl bdnd ofice atJ,1, Virjanand Ma!9, Vjkaspuri, New Delhi-11m13, a.tingas trustee lor th| Dcbcntrn l lolders.

UnsolJ Unr as on dare of th$ Agredent are set ort inSchcdule 4 of the Dcbmlttu lirst Deed.

shall nean all srleabb area in dre Prcjstundivided prcportio.ate {tht and tide bl.nd otlrr than drc Exisdng Sold Units,

slEll rean a non'illerest bearing.mrant a(omi to beopened and mainknrd by the cd|Pdy wirh L\eUtilization Escrow Agent, in wni.n &e Subs.iptionAmount sh.ll bo F.dived a disEibuted in acordan.ewith tte Dclin iv! A8r4m!nLs,

Ur ess thc Lontc, t otr-n i.e 'eques,

theCompany.

u!-ad .n .} D' ,lo un Jo rm n. d.. ',! a ine'l herein shal navcassigned to fhlnr undertltr Deb.ntlr1 uetDeed,

Utiliation Elcow Account

1l

ftjs Disdosule Do.wnt is neither a pbsp{lus nor a statenrent in lieu of prospectus addoes not costitute a oller lo fie plb1ic to srbs.ribo lor or othdwise acquire the

the isue of Debentures to !e listcd or dre BSE is benr8 nade slrict\ on a pdvate plaenentbsis. Multiple copies lereof given to the same endty shall be deened to be 6ven to thelane Frson dd shall b€ heatod as su.h. No hviirtion is benrg Mde to dy pe6oN, oihert!fl ro thGe to wlom applcahon loxs alorg wrth rhis Doclnent have bem sent. Anyapplicauo! by a person to rvhom the Do.ument and application rorm have not bom 6cnt bythe Compay slall be rejected $ jthout assigning ary renson. ] he pe6on who is in fteipt oJthis Dlj@nt s!.1 nor raprod!.c oi dishibut it in whole oi in part without the consent ol

Apdt lron thi! DMent, no o(cr document or pispectus las been preped hcometion with dris lsue dd no prospectus h relation to tho ksler or &e Delshrresrelathg to this lssue las been delivercd lor rcgctration nor is su.h a dotun@t equircd tobe registered udd the appiicable laws

'I1€ Issuer coniirm ihat as oi ihe daLr hereoi, this Dis.losurc Do.umnt (inctuding thedoMmts hco+orated by rcIercn e \ercnr, ij anv) is a(urare in all mrerial respars anddos not cdtain dy uhue statement of a fa.t or onnt lo strtr'dny matarial fact necessary t!)mke the statenents herein. No person has boen iuthoized to give ay irJoimtion or totrEre my rcpreontation @t containe,l or ftorpoiabd by referene in this DGclosure

]ris DiscLosre Docment is not iniended to provid. ,n! basis ror any credit or ay othereval@tid. Potdtial invesiors(s) are requncd to m.rc dren own independenr evaruarionand judgddt. It is fie resposilility oi potential invsiors to have obtlined al1.otudb,approvalr or audronztions required by dr€m to parLdpale in fie rubscrjption to tn€Delentues. TXe Dehmhrros have not been reconnonded or approved by SEBI nor doesSEH gldatee rhe a@h.y or adequacy oI dns Dislosure Ddunent.

lssud's Absolute Respotuibilitt,

The lssuer, lavhg made all rcasoDble inqutios a..epB rcspo'rsibility lor dd contirN tharihis Disclcfre Dment d on date:

contaia a! the blomation wuh roSad toconlext oI the lssu€ dd is lot mjsleadlng in

the Issuei and fie lssue, which b mt€rial in tie

LhcFin a!€ honestl! hcld, dddd intdtioN erpresse.i

o6er facts, the omiiroi oJ ULat

E the eNpre$ion of ay slchmkcs this ddmot as a vhole or any oIopinions or intentioN misleading in ay

Ihe Di*losur Dment is prepared nr accorJan.c *ith the Provisions of the SEBI

Regllahos dd th€ AcL ad iu this Dncbsurc Do.ument t\e lssud has set our tle detailslequired as per SEBI Re8llatios and the A.t.

SEBI Disclaimer Cla6e

Ar per tle piovisioro of tha SEaI Rogul.tios, a opy of this Docunent is not required to befiled trith or subnitled to sEH. lt h to Lrc distinctly understood that this Docment has notbeen cleaied or vetted by SEBI. sEBl docs not tate ant responsibility eidrer for lindcialsoudnes oI any shere or dre Foject ror which the Gsu. is lroposad to l€ nade, or lorrhe .ore.hess of the statements nade or opinions cxpFssed in the Docmont.

Stock E\chdge Disclainei Clausc

As iequned, a copy ol tlis Di$losurc Docu'r.\t for issue of Debentures on privakplacemmt bdis shal ]€ filed witl BSE in lerN ol Lhe SERI ltcgulatim.

It js to be distincuy uderstood that subn'ssion of dre Dis.losure D@ent to the BSEsh.uld not in dy way be d€emed or consnued Lo nrean that the Disclosue Domni habed .leded or apprdved by BSE, nor does ir in any

'nanrer rvatrat, certiiy .r endorsc ihc

con{hess or completene$ of:ry ol tbc contcnts ol dris Dis.losue Domeli nor do6 itwarant that the Issuels securities $ i! be lisLed oi will .onrintrc to be listed on rhe BSE, nordo6 it Lre dy resposibilit ror rhe linaNial or othei soMdne$ of the lssuer, iisPronoters, its mgen@t or my (hene or pbjecr 01 rlrc cnrer.

This Dment is to iacilitate hvc*on ro tako an i ormed decision lor matirg invesbnent

€ligibiliiyof tlels5uertoComLOutwir,rh( r\\uc

The Conpmy or its diftcton }ave fot bc& p$hilited aiom acce$hg rhe capirat orfimcial mrket uder any oider or diio.tions passed by rhe SEBj or RBr o. any other

This Dikloture D@not is issued b' rhe Issuer aDd siSned by irs authorized signatory.

Disclaimd in Respect of Jurisdjction

I$ue ol the6e Debentues will be nad. nr Ldia to nrvesrors. as spe.ified uder the heading"wro @ appry'' uder the Sen6: alring lfthinntion of tttis DisdaflteDaetun,rtb a;stEcifuw appnrtd b! tle kltsl. This Disclosure Docunrcnt is not conshrcd or &nstihrtedas 4 ofle! to sel or d invitation to subsr]bc to Debentures oflored hereby to my pdson rowhom it is not spaifically addrossed. Thc Debentures ar gowerned by md shalt !ecoilEled in ac.ordmce witi Indim laws. An)r dispulc ansrg in espect ttrereoj will besDbj€t ro FsRtAsive juisdiclion o1 trr courb;nd rribun.rr orbelhi.

L5

Tho Compuy believes that the lollorvnr8 laclo$ may alf{t ils abilitt to fulfil its obliEatioNunder ine Dcbennres issued u.lor tlris DGclosuP Ddun1enl. All ot ihese f&hJs ft.ontingenos which My or may not oc.ur a1d tne ConPdy is not in a ?osition to exPress a

view on tle rilerihood of ary scn contilgency occuring

ln addition, .dtain factors which are m.te al for dre Pn+os. oi assesing the Mrket risks

asociated wid| DebentuJes are also dcso ibed below.

The conpmy b€lieves that thc lacto6 des.ibed below rePresent the PrinciPal risksinlerent in investinS in Debentures brt the inability of thc cohPmy to pay interest/ or othdamosts on o! j! coN4tion widr any Debenhrres mny oc.ur for oiler r€s@ dd the

Company des not represent thar the stnlomonts below regarding tre lis16 oI holding dyDebentures e exhaustive.

The Deldtues are sophisdcahd n$huments, can involve r hiSh .logrce oI risk md are

irtdded lor sle only to drose nNesbE capabie of hdersta ing tle 515 dtailed in such

The folowing are the rtk envisaged by tnoIonowing rbk lactols cdelully for evaluatinSary hvertment d{isior

1. STNUCTURE RISKS

?ros!{tive investos ale advised to caretuUt Ead thcsc kcy isks a$ociatud {ith dFDelqrtures, lhese rilk ara not, dd are not intended l,o be, a complete tis! of all isks odcosiddahoc relavant to the Debentues oi the decision oI dre DlosEctive investor tosubsdibe to the Deb€nfine.

"'xil*"*""

Conrfany, and nrvesto4 should cotridar theihe conpmy and ils busines b€fore naking

B.

Repaynent is Snbjo.fto th. crcdit Risk oi tho Company

Potenrial invFiors snould be awaF that Fcaipt of dre prntipal amut,Interest ddany odE amounts drat my be due in Fspect oI the Debenhrres ; subj{t to rhededit risk of the ConparV. Pohnhal invesio$ assume fia sk tlat in de event fiatbanlfrpky procedings or compositjo[ scheme of atrdgen{t o! similarpGeedinss to avs! bdrkrupt t are nrsdtlted by or agan$t the Company, tnepayndt oi sum due on tht Ddbentures h.r not be made or my be substatially

Td Consideration and Legal Consid.ration

Spe.ial tax cosiderahoN dd l.gal cotriddations nay apply to ceitain typs ofinvestors. Potential investoF arc ugcd to consulfivith lheir own linmcial, legal tddd other professional adviso$ to doterditu any linar.jal, legal, tax a(l other

c.

2,

B,

3,

B.

AccodtinS cotuideiatior

spei.l accoDtina .onsideratio$ my aPlly ro cLrknr VPes ol hxpatcrs Potential

in estors * lrged io consult with Lfieir own accolntinA advbos to deternineimplicatiore ol ihis inveslment

IN:|ERNAI RISK IACTORS

Opsrational md SystaB Risk

'Ihe Conpmy is fa.od with oPe6lion.l and systeN rcks, wnic! my a Je s a

r€sdt of variors lactors viz. like InprcPer a!$orisatiore, inaPProPriate

dmmmtation, failure h maintarance of propcr sedrity Policies, lraudt imdequatehainjng and endoye eror. Fnrticr, tleie .ar ilso bo a shike, lockout or odlerLalou! related problem.

ln the event ttrat thc company is unable to moet its laynent dd ot!{ obliSatio6towardr Debmtue Holdc$ mder do lcrnrs of tie Debontures, the Debenture

Trustee @y €nforce the Secuiiy as pu thc tcrn$ ol the Definitive 481edmts, dd.ther related dmmots. The Eovery in su.r a $€n.rio will be slbj{t b: (i) dFndket value o! slcn sedred proFeriyj and (ii) rinding willing luyers tor the saded?lopertt at a price sullicimt to rcplt d€ Debonldrc Holdes, aI orbtandingdomts oder the Debenturc TN* Dced. The value realised fiom fie enfoi.emmtol tne Secoity cleated under the Dolinitivc Agieemerts may be iBdficient h)

r€deen the Debstlres md neet aI expenses under thc hsue,

EXTERNAL RISK TACTORS

Material chdges ln Regulalions To whi.h'lhe company Is stbje.r courd calseThe Comp{y's }usiress To Surrcr

The Conpmy b subj.d gcncalll, Lo chalges in hrdian lar', as weu as to changes ingove,]mmt legulations and policies and accounting pin.iPles. Any chmges in tneresnlatory iramework ouLd .dve6eLy alfecL the liolitability ol the Conpdy or itslutue limncial perromunco by Nqutring a oshucturing or its ..tivitics, iffieasing

A Slowdown In Economi. Cro{th In Irdia Could Cause The Conpany's B6iness

'nE Conpdy's perlomance and the quality and gowth oi it asseb are n4essaiilydependent on dr hcalt! o1 dle overa! Indid oconody. A slowdoM in the lndid@nomy ould advc^cly dff..t its busincss, in.lu.iing its abilry b 8row its as*tpordolio, dre quality of its a$ets, and ils abiliLy lo inplendt its shategy. India'se.onomy .ould bc advdscly aff(ted by I geNral isc in inte&si ntes, or vaionsothei lactos afecting the growth of hdustrial, nmuJactuing dd servi@s s{tor or

l7

c.

D,

Political Israbiiity Or Changes In Tbc Covclnncnt Could Delay lurtherlibeialiation Of Tna lrdian Econony And adve4ely Nfect lcononicConditions ln Indi2 Geneiallt Mrich Could lmpact :fhe Compdy's lin.tuiil

Tne polici6 md lntiatives ol the govemnenl hava strppoited tr\e econonicliberalization of the country. Ii there was to bc uy slowdoM i! tle economiclibeElsation, or a leversal ot steps dlrcady tarcn, it could have an adverse elid ontle Compmy's business.

Tenorist Atlacks, Civil Unresl And Olhcr Acis Of Violence Or Wd lnvolvinqIndir And O.hpr Couraie. ( ould Adve'.ely tut, d t hr I inMr'rl MfkrD AnaThe Company's Blsiness

Terrctsi atlack md othcr a.ts oI violenft or rvar may negatively al!{t tle Indidndkets md my also advc4clI a(fecr rhe rvorldlvide mrkers. Ttrese ach may atsorsult in a los of lusiness .onJidon.e. In iddjtio& advese social, @nont an<l

lolitical evdts in India could have a nogaiive inpad on 0E C,mpany. Sdchi(idets .ould also create a greater pcrccltion fiai investmmt in Indid conpdjesin\olve, d \gher d"gFco "r '.(vuCl\.cdrd4v,.. i-o{tonLh"Conpdy.

l Maket Risk (Produ.r Demand) and lioi.e Mniculc rvents

Tle Conpmy is in the busincs ollerrormn.o of ihe Compaly haIdovelopments and natur.l disas t Ls like

ddRlopnrenl of real astaie in India. Tnebe alf(rtd bI political ad o.ononic

eaithquars, flood, drought, a.t ol cod, etc.

4, NOTTS TO THI RISK FACTORS

9ave, as staicd eisewnere in this Dislosure Docunrent, situe fie date ot rte tastaudited lirdcial aaonntsl

No dev€lopmenls lave taken placo thit drc likely ro naterialy {d advdsety afiectthe perlomance or !rcslo.ts or the ComlMy, and

No develolnents nlve bkcn ptNo in rie last l2 ($,olve) nonttrs whi.h materialtydd adweEely alGct or m like! to arr(t the hdnrS .r proribbility of the conpdior fio valrc of irs .ssets or ns abilny b Ia, its tiabniiies

A prosp{tive investor ol the Debcnturcs s,itl be Fsponsible ior the lawtulne$ oi rhea.quisition oI dre Debenturer rvhellrer xnder rhe laws of tte junsdi.tior of itsln.orpoiation or the jurisdi.rior in which it opcratcs or for.onpliance by tlDrProspective investor widr a,ry law, rcgdation or regulalory poticy applicabla ro ft.

(")

(b)

92

11?

i9

B.

c,

D-

I.

H.

Shrcc Vardluan Buildprop Private united

30:1, Thnd lloor, indraprlaslr Building,21, Bar.*haDba ltoad. New Dalhi - I I0m1slrreevddhmangoup 6m0'u-4360s560 (100 lhcs)077-23n9599

Adiinishative/ Corporate Office: 301, mRt Floor, Ir.lrallalesh Bundin&21, ]]aEkluDba Road, New Delhi - 110001

a\r nn9599

G,

Corporate Identiry Numbdr: CIN u7o200Dr2o1opTc199363 urdd certjJication oiinrc.poEtion dated 20s February 2010 issued by the Registrai of Conpanies, Dethi.

E Comp[d.eOfhcerl

Addr$,301, I\nd I l.or, Indhprakash Euilding,21, Baraklamba Roall. New Delhi - 110001Pnono Nunber: 011-13605560 (100 lines)Emil ID: bJo@shreevardhnmgoup.con

IDlll Trusteesnip Sdrviccs Linited022 4080 7000

The Compdy dnd the Deberture h$iee have exeaftd a debentue h6reaaPPoiltnst agreenot on 14d June. 2016 ("Del,enlue Ttusree AppoitrrnentAgreenen(), whereby tne Compant has alpoinred rDBt Tfrsreesnip &NnesLini@, a conphy ftgrstqed undcr thc Sccurities Ex.ldqe Bodd oi rndiarDpbpnh re ltu{a,, Pep' lcr. 'L ,ao. .cvirl ., Tgrlercd ofri( n AsHBundinC, C'ou E floor. I P lJ bnrV. g.B.t"....ra.,Vlrbdr-4OOOO.,.oact as Debmture Trustco lor rhe issuo and rvhereby 1DBI Trureeship Sedies

Arrmger or the lssuq N/ A

", . Det,.nr^ ' lM io' J,. sJe The Dpb6hue Tlu rce

\320

has also srwen its onsd* vidc lcttcr d.tcd 24th M.y, 2016 lor its appointmot 6Debenhre Trustee for lhe lssle, copy oI $hich is includ.d in the AmMos at dtend of this Di*losuG Dcumenr.

the Debohre Tflst Doed shall mo.e speifically *t out rights md renedies oI theDobentm Holders md &e mannor of enforenent &eFol. Flrrlerl

(a) The Issuer and the Debenrure Tluslee wiU enler into a Debenture Trust Ded,i,ter il'n, specirying the nghts, lowel' autLorilies and obligatio6 ol the hserdd the Debenture Trustcc in respEt ol lne DebdntuFs;

(b) A[ rhe dghts and rcncdics ol dle Debonhtre I ldde(s) shall ve6t in dd sh.lbe exercised by dre Debentlre lru$eo, prurided however, tnat tne priorwrittd cotucnt oI the Debenhrre Holde{s) shal 6e lro.ued whereverrequired dd nl ihe mamer required, as lei the Dcbcnt@ Trust Deedj

(c) Any laymnt mde by the lssucr to the Debcnture Tfr6tee on beha[ oI t]reDebenture Horde{t/ or 10 thc DolErhl& Holders accout as menrioned inihe Debmtuie Trust Dced snall dischar8e rhc lssftr //o rarao to the concemedDebenMe Holde(t, and

(d) Tne Debenture Ttustoc will prote.r dre inic(sr or the Debenhrre r{otddG)jncluding in regard to tinely payments of lhc R.ddptidn Amours, md it witliare necsdy aclion, subjc.t to d n a(orda.ce sith the Debmbre TrrsrDed, at the cost oI the ksrr

R€gisbar/ Regisha! Lo &e lssuo/ Registrar dd'l ransfer Agent

REGISTRARTO ISSUEAlarbr Assigmdts Ltd.205-203, Andlali Complex,lhadcwalan Exteroio., NewDelhi- 110055

Credii Analy6is & Resear.h l-td. lu5 assign.d llll (Double BB) ratilg ro theDebentures, Instiuments with dns laLing arc conside,ad to have moderate deSree ofsately regdding tihely scruicnrS ot tinan.ial obligations. Such islrdmts carry

The nting letter datcd 16h May, 2016 along wiih rhc raftrg iatioete are included inlhe Amer@s ai dre end oI tlris Diklosure t)ocu mcnL.

The lating is not . recomend.tion lo but sox or hotd srofties and invesriors.l'ouid hto,\"i ob n de - tun, d rlx,t ro. E. .'J ni mqy be sub q,.o r.q,,o,or widd'dw4l a ,n) .n. b. ' i.:.8rn,o di, ,8enq on$eb4boj rcwiiJormation dd cacn ntin8 should bc evalualc,j nrd.pondently oI dy ofier rating.

2-\

K.

2.

c.

votua sahni & Associates702, Ansal Chdbei - II,6, Bhikaje cma llacNaw Dehi 110666

Srief suhmary oI the business activ ics of the Codp y and irs linq of b$in63

Shra Vddlmm Buildpro! I,rivire l_imiled was in.orporated or ltre 20d day otIebruart 2010 sder L\e provisions ol iha conpani.s Act, 1956 s a privata timitedcompmy. Tle Conpml is a real. esraro developer conpany with te plinaryobje.iive being pu.luse, devet.pmc;i, construction Dd sale oi ftal 6rare_

Name hd business o! ihe subsidiaries df L\e Company

DSS qs incorporatod onCohpmies Act 1956 asdSaged i! dE bNine$

B, Grievance Redre$al

14,h day of November, ?003 under tha p.ovisiotu ot theprivate hnied conpan) The Conpany b pn(adlytndrase, develolmcnr, conshuction .l els ot real

ln ose ol ay grieErc* relating ro th! issue of rhe Debenhues by rte Compdy, rhesame sha be ad&esed to Mr. ldshi cupta

The Issuer is mmged by tne Boald ot DiL{Lors assjsled b/ exrernal prolessjomladvisols md ouboui.ing of necessary fuctions

Tle table lalow rellesonts the coryorate sku.bre o! rhe tssuer as on rhe .late ol urjs

$

Auth ons e d Shar. c a p it a I

1000000

:r000000

bsu.d dnd subsdib.tl a ul paid-a, 4,a," *phL

10000 Equ fy Shares or INn I O c.'.h 100000

100000

D. Key Operatiotul dd Financial PararetL\rs for Inr cirl Y€ar endinA Mdh 31, 2Ot6ruaudit"d,dd Ucp-e( ongr,lnFe'frtrjl/.,, .(Jrorpdj\';@|eeori,l

2014-152015-16

36,397,903 )7,417,a!9 1I,397,535

ll

t,749,628 4,003,557 4,012,254

391,542_966

261,951,235

EBTIDA

EBII

PBT

0 0

0_95

24

(rNR) ONR) 0Nn)

E.

F.

C.

3.

B.

Grcs Debt Equitylario

Audited C6h llow Stalenents lor 3 (tueo) ydas nnmediately precding rhe date oithis Dirlosure D€mot:

chang6 in accouting policies durnrg LIe last 3 (thrcc) years md r\ei! etie.r on oEproriti dd the raeNes ol dr€ Conpany:

NIL

Srief History of thc Issucr siNe ils in.orporirion

fte Conpany was inmlporated on thc 20s dal oI February 2010 lnder fiepiovisioro of tle companies Ad, 1956.s a prilrre limited conldy with rhoRegishd ol ConFanies, Dehi, (Regisbation Nunrber U70200DL2O1OPIC19%63unde! the mm Shroe vdrdhrnan Buildprop Privatc Linnbd. The Comlmy is a realestate devolopei .ompany rvith its primry objedi(,being pmCnde, devetopnent,coNkrctid and sale of rcaL esraie. Tl1. registcrcd olli.e of tie compdy G situatedat 301, hdJapra:ksh Auildin& 2l Darakhnmba Road, New Delhi 11OOO1.

'Ihe shale Capital ol thc Company as on ldsr qudter cnd, i,e, March 31, 20:16, is set

Before i6s& of Debeniucs

AJter issue of Deltentues

2:

AulhorizedShreCipitil

I$uc4 Subscribc.l atrd t':id Up

Amornt (All fignies in INR)

1000000

c.

D.

Paid up Capitzlof tle Co'npdy:

Share Premium A(out or dreCompdyl

l Qrmges in the.apihl srrucrurc .i the Conpany .s on lasr qua*er en4 i.e., March31, 2016, td me hsr s(live) yean

There has been no change.

F. The &uity Share capital History oi drc lssuer as on tast qtaitai 6d, i,e,, Mdch 31,2016, lor the last 5 (IivE ye!$:

0Nn)

:-::

]:;::

{INR) ONR)

C.

c.onehurnon ir lne lJsLl (de) yed: Nil

Deta s of dy a.quisition or anatga.ution in thc la{ L (one) yetThe Conpany has acquiftd tnd emllcle sha(hounrr ot DSS IntrashuctuJe piivat€linired in rra ldsr I (ono ycai

AJtd convesion ol conv.rtiblcinshncnrs (if aPPri.r brr)

100000

H.

Nor€s: Shdes pledged o! en umbercd b, ti€ pronoreD

B. lnt o! rop 10 (red holdes oI e.ruiiv shr€s o1 rlcInlormtion M€h.rannnm

Derdl. ar lhe dhtrhotd:na or rt! r roro"n, r\ on ddr of risuc ot rhi\ tiJomadon

thd,hoduS p.h- or .F ( rod,J .! oa oa.i or L{e of tu talorfuboa

il any: NIL

eonpany as on dato oI issle of thir

ONR)

10

IIeld(INR)

-ooo - 251. 2500 Nil

2, 2500 NN 25000 25

3. NN 10 20000

4. 1000 Nil 30000 30

10000 r0 100000 100

N;-JN".r*a

1".".", l;*r;

Forn

*-l--Nir_-T1o2500

3, 2000 Ni 10

1000 Nl l0

]]erd 0NR)

.25

25000 2a

20000 20

30000 30

Ri/s 27

100000

5_ Detats regrdin8 dirp! roA ind m",'dg!.nantol lhp t onptr.,y:

Boar.l ot Dirc.ro6 / A4d ,ge me,,r of the conpdny

DeLilsof|ne!uco.8or'dorD:'idosotrt,LomponlJ.o rh . dre o( nL Di5cto up

s.

DIN

De$i 1

1.

DIN00095365

06.06.19

72

kvI

0

2A_02.207

110001

I

I28

ssN

HOPIBUILDCON

BUILDTECH

LIMITED

lNTRAHOME

LIMITEDALMONDBUlLDHOME

III4ITED

INlRAEEIGH

TS PRIVAT!LIMITEDDECINIINIRAHEIGH15 ?RIVATE'LIMIIED

NFR T,lEIGH'IS PRIVATEUI?flIED

m.12,79 301,

2l

Dcllil10001

DIN00095376

t0

sSN

AUILDCON

BUTIDTECH

PIIVATELIMiTED

lNTRAHOM!

LlvllT!DALMONDBINLDHOMTS PRIVATELIMTTED

AARTHIN!RAHIIGHTS PRIVATELIMITEDDEC!NTINIRAHEIGH'IS IRIVATELIMIT!D

INFIAHEIGHTS PRTVATE

LlMTTED

3.

DIN02246941

81

301,

2t

BE,

ffi; 31

DehiU0001

4.

DIN0 27177

09.03.19

54

n

DeU,i 110001

31.03.201

5

5.

DIN02067992

2a/43/7

Dehi 110001

25.11.m75

DIN

301,

2\

Delhi 110001

72/03/2010

ff^ 32

Nil

B. None ol the Djrctors or the comPmy are aPP@ring in the RBI defaulte.list dd /or ECCC deraurt list.

C. Details of cidge in diKtos 58e lNt 3 ($ree) yeaa:

01553363

31.08.2015 24.12.2010 Nil

03187573

10.11,2015 24.r2.20t0 Nit

0N61992

25.11.2015 Nil

DIN 02621117

3r.08,20r5 Nil

6. Details of the alditos of thc Conpdy

A. Dotait ol the arditors oi the Conpdy:

ToeAtralclDhber Il,6,Bhikaji Cama Placc, N.w D€lhi110066

i'jti 33

t

NN Nd NN Nil Nit

!, DeFais ofchanger auditoresincc lst3 (t\reel y@E:

Details of borowing3 of rhe conpd, as on trt htesi q!.nd end i.e, Mdh 31,

B.

Nit

c.

D.

E.

Details of secuied lod a6

NilDataG of Necured loN

on dre latest quartei end, i,e., Mad 31 m16:

as on de latest qrartor ond, i.e., Mdch 31, 2016:

)

('NCD{') as o^ the tat€st quarter en4 i.e.,DctaG oI non- conve*ible debentuE

List or top r0 (hn) debdtue holders as on dre latest qerrer en4 i.o_, Mard 31, 2016acros all dre debentlres of tie Isler:

NN Nil

Amomt of Corporate Cudntee issued by the l$uer as on the laresi qudter end, i,e,,Mdch 31, 2016, along wib\ name of the comterpdiy on behal of whom ii lus been

INR

NN NiI NN Nil Nil Nil Nil Nil Nil

34

c.

H.

Detans ol Comercial Paper (C?s) as on ine Lalest quarter end, i.e., Mar.h 31, 2016:

Nil Nil

Dehils or Fst ol dE lotrowing (ifcoNertible debenturcr pref e!€nce2016

debt lik€ FCCB, optionallyqlarter 6d, i.e., Mdch 31,

Dotails o! delallts in repaynent

Details of all deraults dd/ or delay (including theiein dE anount nvolved, dlration01 defauLt md presmt stahE) in paymenh of int€rest dd principal of my kind oftem loans, debt seclnhes, statutory dues, deposits and othe. financial indebtednessincluding orporate gudantee bsued by the compdy, h the p6t 5 (iiv€) yeaB:

Nil

Detajls oI any ouistanding botrowing talon/dobt souiti6 i$Ded where

(i,)(nt

Ior .oNidention oller thm cash, whether nr whole or in parr NnAt a premium or dis.omt Nilln prsran.o oI d option: Nll

Thore de no bodovings outsrandjng as on March 31, 2016 other thm tnoso

The Compary is current on sovi.ing distinS debt sdritias dd term loans

Thd€ are no mterial events / dev€lo?nenh or cnanges having implicarion.n the find.ials /cpdii guality as on date ol Dsclosure D@mmt.

a

Nil Nil Nil Nil

35

1) MrsmdegJain2) Mr Sachin lain3) Mr Rishi Cupta4) Mr. Ashok Knnar Gupta

B. D.etails ol lromter holding in the Conpmy as m the latest qmrter md:

Oehils of PromoteK of the ComPrny

The Prcmokts of the Conpmy 6rear Fendoned below:

9. Abridged version of a(lited Consolidaled Stmdalonc Financialprofit & loss statancnt, b3lam€ sheei ind ..sh now sratcn€nq(lhree) yeffi and auditor qnakications, if any.

2J00 NN 25 NN

2. 2,500 Nil NN

3. 4000 Nit 20 Nil

1,000 NN 30 Nil N/A

G)!e!ea!!&1 1m,00c 100,000 100,mc

(b)RclelzgErnd slrolus tr,291,545

r0,500,00c 5,000,00(

(b) 2),052,29441D,044

G)

?q9!!q!e4

33L3n,435 414,189375

thorftemr,195,503

TOTAI 409,784,243 369,645,7n 43\701544

ASS!'IS

2549,332 44(ts,624 795,257

(b)

Na\ery!! 50,00(

50,00c 50,00c

316,79819,2n

{d) Lonq-te.m 53,786;0( 53,735J0C sl,786J0a

tr) 37

123,35: 113,362

160,r0,23€ 13t364,791

0,)

aash and

944 ),7@,628LAAl,55'

t!9!!!c!4lg9qtg-eqtg 174,797,W

Me!:!4!!t h,9ta,612

20,568,461 8,184,504

(o) 63,00208194,627,52:

2014 2013

Revenuc hom OpelatioN 422658rr6l5,44rJq8 12,156,991 4,174,n5

chmgos in Inventory oI ?roject707,42J 14r\27,115 47,27023r

171,065,934 276,104,226

Errcnses:

Ddelopment & Cofft uction146,305,429

Em?loytu 3ener,ls E\petue 13,432704 8,233,104l1o,4m 6,,130 230,59

q!pi<i,!!\ n6,841 ?93,657 381,58]

Iffi: 38

7,q86,r74 4,6$,4n

170J25J80 269,707,m 477,3r3,86t

f,ofiv(Lo$) b+oicrd 2,540)54 5,749,594

1,1D,81 2,035,828 L94r,476(332 202)

Net Prorjtl(Lo$) alrer Td 3,91t,939

10. The following sels lorth rhe maudited financial infonltion as of Md.h 31, 2015,

IOUITY ANDIIA}ILITIES

100,000(b)

7.157,?Il

&) 6,611/430

J76,r70,6a0

191 t,s92,gt7

39

(b) Non{ureni LlvesErents 50,000

121,762

(dl444,t73

156,64759r(b) 60,165,0r5

(b) 275,050

r37Jr8199

TOTAL 430,430,567

ncvenue:Revenue from Oparatiotu 127,77t)40

7,?52,449Chdees d lnvenbry of?6 e.tWor! ulProf,r€ss 10,008,262

r45J360<2

Material CoNumed Development & Construction91,741,133

Employee Benehl: E petr. 11203010131,036

60t,946

4,4J2,759

116,166,.r4

rrofivGo$) befqreTd

Net trori!(!os) afrer ra\ 79420,073

,t0

11,

12.

Any matcnal evetrt/ develoPment oi .hmge having imPucations on the

financialtcredt quality (e,& Any naterhl regllatory ?ro.eedings againsi theissndpronatcB, lax litiSations rcsultina itr materid lintilities, corporatcreslflcruing went et ) at the time oI issue wnich may affect the issue o! theinvesto/s dccision to invest / cantinue to invest itr ihc debi seuitia'

NiL

If lhe security t bacled by n guddtee or lellcr ol coDJon or any otnerdocumen94etrcr with sinilr intent, a.opy of the sane shall bq dis.losod. In case

ruch do.ment does not contain det iled Parhent slructure (Proceduc ofinvocarion of gurant€e and .eceipt of paynent by rhc irvcstor along withrinelines), th€ sffie shaU be dG.losed i! the ofici do.menr.

13.

The Debentures de tu.led by ttu co4orate guatrlees ol DSS hflastructure privateLimited md p€^onal guardtoas of &e Promoters. Tie shndard iormat oI the

$ardl@s is eclosed as Amenre.

Naneof the Slock ExchanSe

Tne DetEntur6 to be issued in tems of tnis Doonent a.e proposd to be listed onBSE. nre Conpdy shall comply witi the reqli@ments of ihe listing agreenent to beaxe.uted with BsE, to tho cxtont aDDt.ahle to it on a cdtinuous basb.

An application shall be submitred to BSE to Iist the Debentures to be privately placedand to see( pernjssion !o deal in s!.h Debentue, sd the compmy shall list theDebenturcs on the wDM segment or the BS! within 15 (irieen) days Allotment Date,

lui$er in conplimce with the FEMA (Tiasfor or Issre oi S@ity by a PesonR€sidot Outside India) (Second Amndmnt) Regulations, 2014 in rospo.t olinv$tment by egi.teed roreign por{olio invstor ("Fn") in 10 be listad' dehtsrujtier the C,npmy conlim &at the Debentures would b€ listed within 15(iJtc?n) days rron ihe Alloheni Date, as the case nay be. In.ase fie D€benhnesissed to tle SEBI regisrered rPls are not list€d within 15 days fr.m the AUolmertDate, as tre .ae may br, for any reason, then the Company wdld ilmediatelyrudeeh or buylel the De!€ntures lron the IPL

In fte event of any ottrer irv€stoi (i.e., other rhd !PI), in the evenr ol delay in listingor ihe Deb@tures beyond 20 days lrom the date of allohnent, ue C,npdy wlll paypenal intoret or 1%(one pe(enr) p.a. over Inrerest 6te Lom the expiry oI 30 ($nry)dd:fronEcdccof dlotr'n(nlrl! Lbb 8of Debenrure.

Debentu.e Redenprion RoseNe:

thc Compdy shau .reate and minraln a debenturc redemprion rcseNe, itrequned, in acoidd.c wid] applicable laws.

41

B.

15.

Relevmt RBI regulatioN, norifi.atioN

cncurds, as i$ued from rine ro timci

and circdds, as issued lrom tima ro

Motritoring of Utiliatio. of Funds

The Debdtue Trustee will monitor tle urilization of prcceeds ot the hsue in t@of tle Debmtue Ttust Dead.

AbDrtoNAL DtsclosuREs UNDIR pAs4 As tREscRIBm UNDER TH!COMTANIF<ACr,2013rTol/t?uQrt r.t.outr?d abotc):

Disclosues with regdd !o in!{est of dnectos, l igation erc.

{a) Any tuEncial or ofid nareiial int€rcst ot the di@toB, plonobrs or keyhanagerjal persomel in tno ofier .nd tne effe.t or such inrorest in so tar as isdiiiormt lrom the jnteiesrs of o&er pcrsons,

Issue/instrunot sp{if ic reSdations:

! The Conlmies Actj. The SEBI Regllabotu, no&i.ations dd

Ni1

rb) Dca . o. d\ Irgdnon or l"Bql *tion p. dinS or .a\o by d. Vn\by o,ueparddnr or hc ' o\dmndnl o. i sLdotofl aL$o-q "&itur rn) p,ofohroI the lsNer duling the l6t 3 (du@) yem nmedntely p;edin8 tie yed otL\" .l.dir on oI rhi. D *tosue Do. , nenr do rnj dirp.rio- rG"d br ,u, h\4ir cPy or D pd'mer. or itarurory Ju.horiry upon .on(lueon oi .L,hlitigation o! legal action shal be dis.losd:

Nil

l!1 D r rl of d.frrl, rr my in"tuding ,\"rer $" drount in\olveo. duid.on olders r I r dd present lrahr tn @avmmt or:

i. Siatutory d@sn. Debentuies and nrterest theleonin. Deposfts od interedt thereoniv. L(h irom dy banl or iindcial hstitution md inrerest drereon

NlL

l:J-."5o..r d, s'.^ d",D8 1e, spn. ),pd, dnd L\ 3 /LTeer 'itu..dr(d)

INR 48,00,000

42

Relatad party bmactionsimedjately pr{eding uioindding with egard to

For dehils, ploso raiei to Note 17 on'DisclsurooI related ?dties md related parry hasaciiotr oldE audited limcial statement tor lY 20:14-$

fY20r'1,1 For details, please .efar to Note 16 on'Disclosureol ielat€d pdties md related party treactions or

ihe ardited limcial shbetunt lor FY 2013-14

FY201213 Ior detaib, plear€ relar to Noto 19 on'Dlslosurco! related paltid dd elated parlr kaN.tiotu' oltne audit€d finmcial statement f.r FY 2012-13

FY 201+15 rNR 36,m,000

tY 201!14 tNP12,00,000

ry 20r2-t tNR 30,00,000

dtered dlinrg dre la* 3 (threo) rinmcial yersyear oI circdation ot this DiscLcure Dcumentlom made or, gudmtees Siven or seoities

Derails .I a.ts ol Mterial frauds comitted againsr the Compmy in the tasr 3(tlee) yes, if ay, md il $, the action taken by rhe Conpany:

(0 Sumary oI resorvatiom or qualiii.atioff or adve$e remrk oI auditors in thelast 5 (Iive) Jinscial yeaB imediai€ly preceding tlE year or .i(ulation or thisDi*losrre Dmmdt md oi their impact on fie ii'mciai statemenrs mdlitutuial positid oi the Conpmy dd th€ .on@tiv€ srcps taten md propccdto !€ tako ltry the Conlany for each ol the said rcsenatios or qualilicatioN

Nil

Details of any inquiry, ispections or inv6tigatioN ilitiated or corducteduder &e Act or dy prcvious conpany law in ihe last three years imediatelyproceeding ihe year of circulatio! of tljs Disclosue Doenont in the case oidre Conpany and all ol ils subsidiaiies. Also if there were any prseoiioNfiled (rvhetler psding or not) lines impced, onpounding ol o(enc.s in Lhe

last three yea$ imediately lre.eding the yed ol this Djsclosure Dcumentmd if so, se.tion-wise details dreRf for ihe Conpany and all ol its

Nil

€)

(h)

43

B. Financill position of the Company

(a) Piolils o! the Conpany, belore and alter m!.ing provision roi tay, for the tlneoIinmcial years imedbiely pr4eding OE date of.iFiation ol Ois Dinlosuc

For lilr .ial .16 2015-16 - INR 29J69,078 (Bdfore taa provision & cxcoPtionaliteis) and INR 19120073 (AItd tax provision)

Ior Firaftial Year 201415 - INR 2540354 (Beforc hx prcvision & exeptional ited)dd INR 1,750J05 (Aiter taY provision)

For Fim.ial Year 2013-14 -INR 6100,449 (Borore hx piowision & ercepiional item)dd INR 4329146 (After tax provision)

For limcial Year 2012 13 INR 5,789J98 (Bdoie tax provision & exceptiotul items)dd INR 3,91sr89 (lAfter td prcvision)

(1,) Dividmds ddar.d by fie compary in Fsp{t of the last 3 (ilree) Iinancial

Nit

k) lnterest coverage ratio for Fhmcial Yed ending Ma(h 31, 2016 (!na!dited)dd the lreceding 3 (trce) fjnacial yeas (audned) Ghndalone ba6is):

i. lo. Fnuncial Year 2015-16-163.13

n. For Fimcial Yer 2014-15 - 9.03

in. lorlinmialYear20l3-14 996.40

iv. For Finmcial Yed 2012-13 21,66

44

2.

For ter@ of irsle ple6e refer to the Amm€- I tided "ls$e Derails / Sumry

tughts of Debentue lbldcrs

The Debent@ Holders wiU not be otirled to dy nghts dd privileges .Isndeloldes otler thm thce amilable to them ude. statutory prcvisios. TheDebmtues i5fle.l 6der iliis Docuent shall not .onfer upon rhe DebentrmHolde$, the nght to rcceive mii@, or to .ttend d<l vote at the gmdal neetings of

3. Modilication of Rights

The nshb, priviieses, tems dd colditiom atrached ro the Debentures shau nor bevarie.L modified or abrogated except wid| rhe pnor writto genission of tteDebenhft H6lde.(s) in i€lru.I rle De!6hrre Trusr Deed and tubjed to appticable

5.

MiniNa subscnption shal be 1 Debmtues.

Only the lolowing ctegoriN of inv€los, when spqifi.ally contad€d? de erigjbhto inveot i! the* Debentures, subject to apdnaue law:

b) Foreign lrEtitutional jrivesrosre8istered wfth SEBI

(FID / loreign Portfolio hvesbos (rPD

c) S.heduled Comerial Bantsd) Ccopdative Bankse) Findcid Itutiutioru4 Isurane conpdi6

n) ltoviilot, Cratuity, P@i@ dd Supermuatim luds

AI,r@!oc -re requi(d to cmplj \iLt tne ,ctevdr le8ula6or / guidethe\aplLicable to thes for n!€sting in this iseue ot Debenrures.

Evd 'ppli.ation i! to b. daompared br b6,+ Lcobr de6rls dd MICf !od" olbc bd ior ln. pu lPce nf d cilin8 dFt , redt of ir er6r dd all s o4Ls $JoL8nd(tsmic trarEiu of fuds or RTCrS

B,

DISCIAIMER:

?LEAS! NOTE THA'I' ONIY T}IOSE IERSONS TO ,\rHOM TI]E DISCIOSUREDOCUMENT HAS BEIN SPTCIFICALIY ADDRESSED ARI ELICIBL! TO AIPLY.

!'lJ}-i\fev! ihrc.' r.\ menr ku be rdde by de C omoby a rer vrril),ms rle

,[,] 46

IACIi OI 11lr AIOVE CATECORIES OF INVESTORS ]S REQUIRID TO CHECK1I9 cgylry wrrH EXT NT RULEs/REcur.ArroNs/durDELrNEs, mc.GOVIRNINC OR RICULATING TFIEIR INVISTMENTS AS ISSUED BY THEIRIESPECTIVE RICULATORY AUIHORTTIE' AND THE COMPANY IS NOT,IN ANYWAY, DIREqILA OR INDIRECILI RESPONSIBLE TOR ANY STATUIOR1 ORRECULATORY BRIACHES BY ANY INVESTOR

c,

D,

The mdlet lot would be one debeture,

I$!e of Debenture onty i! Dedat lom'nre Debentues shaU be issued only in denat form. The Compey wil nakeneessry drdgerents with NSDL and CD6t_ Ior itre jssre ot DcbenNes indem&nafized foim. Investols &\aI hold rte De!€nturos dd del wfth the saft asper OE lrovisioG ol Depcitories Acr, 1996 /rdes as norified by NSD! / CDSL tontitrro bhr. Lrw, o. shdd morion rh"" Depo.iro,y fJrtjcipr ! ndm". Dp-tDd-d Bseri.idl Ar our Nrnber ir $4 lpprcpriar" p,..". rt e.ppt,,,. o, ,o-.

epos:lon a(ouL of rh. dloL.ec(s/ wirh Lh" .rnbqor D"b"n e. cuotr"d w Lrn l owo) -orbA od/, rrcm be dalp oi nbmenl.\ohlil\lrddirg .n" -or.go ng. aootjGa(.sr n"v" rt e opro. ro "". -ematerialistion oI Debdtures (i.e., tha invesros shar have ttre nght to nold fteDebenhrfts in physi.al iorn) at my rime in tle tutus subjecr to applicabre taw.

Driing the period of the I$!e, iNesk'rs cdr subsoibe ro ure Dehentures byconpleting tle application lo@ Ior tle Debentur6 in the presoibod fotur, a;en loFd in this Dis.losue Do.unerr The ap?lietio! foim should b€ filed in blockletters ln English. Application iorm mrst be a(onpanied by aider a dem.l <lraltd .heqre or RTGS ol tle dount as htinraied by the r$uer ed hade payabte inIavor af "Shree Valdifran Buildprop Pvt, Ltd.,, dd should h€ dssd -Aeddr

In .ase de paymant is mde drrough RTGS, dre nhds nusr be .edited to rhalssuer's dtrcnt account, tie detaits of which shal be p,ovided hy the Is!6.

E. ?aFent ojinherest

l"yfrnr o.inte'",| 6n the D"oe ureF, ^

I b" tuo".o rho.. ol rtre D.bentuieHoldca w\o. n.ffrs, cpppr u rh, ,.gr.b, oId.o".a,e.otde4rr (o, r,o rh" rtr .holdc i-c".eof.oin, hold"'.1r.on deRmld DJk rr\ed or' tjr" (on p,ryfo, Bpu+ose dd /or i pa d e j.t pror'jded by t,'SDt/rD>L ro Lhe Corphj ol rhpbenerior c wto lold D, bentur. in den ,t iorm o. \u.h R{od Di.c,;nd de

H.

c.

banl details of the Dobdrture Holdes by way of dnect credir Orough Ete.honiccleaing setui.e(Ecs), Rear Tine ctus Settlenor (RTGS) o! Nationl El(uonicFuds TrNfer (NEFD and wtore sucn lacitities are not aEitable, the Conpdysnal iiake paynmt of ar sch anounts ry way or chqrep)/derimird-altk\/ -F e5t -a-.anr6r wh:.h wil oe djjprched o le OeUrruie,tobeng uyregisp4d posr/ .o"pd posr/ .ourier o, rrdd d,t\ery on o, *lorc he nFrp,.payment dat€s as speili€d in dre Debenrure Trut Decd. Such laym€nts shall bemde fron &e Proj<t Revonne Ewow Accotrr in the mmer ;pe.ified in the

Inierest or Appli.ation Momy

Ni1. The Interest shal be charged from the tisting Daie.

AI req{6ts lor kmler shourd be tubhifted to the respdive Deposlrory-"rb.rpd6 pflo! io rhe.t?a o'd Ddrp fo. odyb -. ot Drn"{z prap.l. cio.a"itu-rher ou. rcLhing f rh s ss n@ snJ o,piu.i- r v power ot rr," .o.p-r ,oren{ d D"benh@ Fo dq dy pq.o. ro hhor Ur nShr lD cny Deb"nh ; or d_

h*m'tted br operatid or taE. -.ctuf,r of Deb.ntuts" woltd

Paynent On Redemprion

No /F.n L req@d o rhe pd or .h" Deb"ntu." Hoder\, a rhc mp oi:::il::l ":,T. D"b. tu,6 do m r,\" ?edompnon D,ber6,. trr" ,"d, n pridDrd-rd- would, b? pd

'd rc Lhtu" Dpo- or. Holdq r.) whoe . deFr ,ppe. or rhcrL o. h rf..ct oMq\ givo by Uc Depo-o,h'o d" (o.p,:,. ri , .,.11wod. e/ ps thc umo:to p{,pro.d:onrieRe.o,a Dar.r\.d ";$".,,p*..ireo.dp*or. qr .u.n D.bhtuj"\ wdl bp wrt6npor<.r rprleempo thorohdDo'oprb. debrr rc poi.r.r. oon a "pr6 o+rhi,p.rahd;,r," O"l*". .,,.,i

u"po o c!, ou ot \ot r cry p,ep4vdhrot Debpntu.e\ by rhe( odp,ny.

Tl. Compd),.hjl onblte dp .eqmprion "hor6 o @ pa,d l,o,J.\ of heucFnture Hotders bascd on thc Debohie Trust Deed

T e,.d-npdon p-o.e,.L.h"U b".Ldttv..edtr"o .rou8h Elc oou, \tedrlAs"dir 'ECS).

lr(s o- NationJ c Nhon . Fud. TEr.fA (i{Lt f) nd ihqe { ;r&ubArre not avditdbh Lt p.omDd) shdl tuIc p ymfit ot d.t!u,L cmounl, br'w^ or .nrque/ d"ndd d,dJr. TL" cn.qu-. d.tund d- it tor red, rption pr..ppd.,r \hd drivcrv o, !,gi<rp,od post -( rhi ddF\prqod l the.I plr, abon /,.rh" addF- $ notnied bv -he Dlb"ntu,e Ho arf/va-i oe rdcapho prc. , l. f.\p bpen ",eoi."d ro ._e dfornt of , " Ddbentueno,oo6r.,he(omp -y. Li-bJ Mo,cdd4 je ocbpnh!^\held D) tu.n DeoontuFio,qqs .tuu trcpoJtjotuhl/ "bd a,, 1tLshpd. 5u.h pcyr"nE

"Fa,t b. n"apr A(our ; th^ Ttra sDp.ir.cd .n rh, Deb"- j"

The noiices to the Dobohrie Hoideis, rhe Debmtue Trusree and rle Compdy snaltb€ Siven jn ac.orddce with the Debenhrre Trusr Deed,

K.

Il the D€bmture Holder is d individuat, in the avent oI demisc or rhe DebontureHolder tne Compdy will r(ognize rhe exdtor or adminGharor oI rhe d@€asedDelenturc lloldea or the holdd or sucssion cerrijicate or orher tegal rcpesenlativeas havlng tid! to the Debotures. The C,npay snaU not he boud bo €cognize su.hexmtor, adminkkaror or noHor ol the slc.ession certjJicare or otier leSalrepr€sentative as navnrg dde to the Deldtueq !d6s such Ntoi ;radministrator obtsals probate or lctter oI adninieLiation o! such hotder is rho hotderor succession .ertificate oi oiher legal repiesentation, as ihe cme my be, trcm acohpetent cout in India naving jr sdictjon over the matter. The dn;ctos of theC,npan/ nEy. u ,h"i "b olub d>(ehon. wle'e rhey think fi.. dbpetu" i (,1

Dlodurbon ol prcb.t or letr"r o ad nini.Fadon o, !u!!6sDn .prti ildLe o- o$e.Iegal representation, in orde to re.oCnize such hotder as boing entitled ro fieDebentures standing in the nde oI the de.ased Debenhre Holdercn plodu.hon otsuffici€nt dmmentary piooaor indemfty.

ReAister oi DebontuP holders

Tne Conpany shalt mintain a 'Register ol Debenture Holde.s, in et{honj. torhcdtainhg rccessary pdti.dab at its regishored office/Regjshar & Shale Tiansfer

L. Colmon lom ol TrNler

Tne Debentures shal b€ Gsued or y in demreri.lized fom in conpliance with rheprgvisioN ol tha Depositories Acr, 1996 (as aneded lrom tioe to rime) md dyoi\er applicable regllations (including oi any rclevrt sto.k erchdge). No physicalcertiiicates of the Debmtures would be issued. The hansler oI rhe Debentar6 indemtenatzed lom shal be in accor<ldce with lne pro.odnre of trsjer pres.ribedby &e relevdt d.pository and Appliobb raw.

However, tho Isuer would use a comn hansfe! lorm lor physicat hotdinSs, it at alater stage ihere is any holding in dysi.al fom

4A

Aplricadon fom r.r Private Placenenr of rare4 s6io, fulty secre4 redeennblc,bMrrer{blc, ro be liiled" inlc'cq-beding Non-Converrible De6.nrws, [Nmt utrd{tlE Dhdosue Docud t da ted l4tr Jde, 2m6

SHRIE VARDHMAN B(JIIDPRO? ?RIVAT! IIMITED,

21 Barakhanrba Red, New Delhi 110001

S!b: Issue of 3s n@!er of rared senior, fulty secuo4 rededabte, rransferable, ro belisted, interesr-beanng Non-Conaefiible Debentues (,NCD6,,) of ihe fa.€ vatue of INR1"00,00,m0/- (Rupees One Gore Onl, een, for casb aggregaring ro tNR 35,OO,OO,Oo0/-(Rapees Thnry Five Crore only) or privare rhc€nenr bas6.

Having €d dd mde.sbod ihe contenb oI ine Djs.tcue Ddumor dated 14d lune 2m6atiached ad tle Definitive Agreemenrs, we apply ioi allotnst ro ne/@ ot rhe NCDS. TXedodt payable on aplli.ation as slDm balow is remitted nor*irtr. o1l alotnenr, pleaseplae ny/ ou mne(s) on the Regjstd ol Deletue !oldar(s).

We conJim tlat @ m nor debaued Iron aae$ing the .apial nd(et o! have b@nrcshined by my r€gnrabry authodty iron directly or inlne.t]y acquiring OE said

Pt?aseread.oE ttu th. ir6tnt.rione on the nd'r pap b{oe liuinz w tri.lonnl

ch€que / Demad DraJi No. Cheque / Diait drJq on

Appri.dss nde and ad.lrcs in tun (in capital lerrers)

/ii).

fi\r; 49

Dctails of Bank Accornr

[]Itrs/Fl,Is

Brd.h RIcs .ode (nSC):

ClientID

ACKNOWTEDCEMENT SfIP

We hdeshnd that in case of allohnenr of debdt@s ro us/our Beneficiary A..out asnentioned above would b€ credited to the extenr oJ debentrc anotted.

[ ] rd to be ded ucted * sod.€

Il Yes 0 No

Copies of t* crcrption cerrifirate / IAN caid/ Decldarions aftached

_-(Ts,hpFr_

n!R /- by Cheque / Demd Dratt No.

50

(Cleques / Demnd Dratlr esubie.f ro realjzabon)

1.

2.

3_

INSTRUCTIONS

Appln"Hd/brd mun b".omptp ed h f,rl n AI OCt LFTI tRS lN t CLtsH Aen wo o, nore pa,s oi $d adn^.S.trDtures shou d

111:",i:leil * I 1 y :f $e rnd:f rasxds€> eistuhne in t rd8x.8p ou.,fD: r I ngnsr bu. I be.ftps,ed by d cuhonzpd o h_d. ord Bcrr o.b/ ";gr:,tra , /notary public und* njr / her olficial eat.

Th€ Iu[ anout of Debmture lEs to be paid along with the appli.ation toin

ApplirlM (om dlly onpkted D, t F.p{rn, ro8"rer wii Cheque / Dpdhqurdt / Pry urde' drdwn in fdvo! otSI!e. VrdlhM Buitdprop privrre tiontcddd (6ed "A/r raw onu." nL; be rtbrhiHen b Lhp Ad,nihistntiDr OIlia at thp:oil.l'l :n:' be:or: rj1..loiine dare of urd isuc. ftF p4yd"_. ruy llo bp mddcov rrLs ro bc d6i8na ed barJ coour o u\" aonDoy as rpnrio."d in u,cDi$losueD&unenr

4. Pleae msrid your Pement Accout Nldber or tho ctR n@ber alotted udorIncono Tax Acr, 1961 and the hcotu Tax Circle/Ward/Distlicr. rn c6e wheren€fther fte PAN nor ctR mnber !6 not !€en alotied, the ta.t ot non-a]totrnentshouid ba mdtioned in the apptication forn in spa.e prcvided.

51

'Ihe

edeldation oI orc dir4tor of tha Compdy d .equired ude! pAr4 j. ainexed d

w? ire aurhorted by tn" Bodd o( d!rr,or! or lnc cohpny Lrde aduriom dahd trsP.j.-lllu.To ,::.tr.,rq: b sisn this bm dd d{itr Lhar ax he Fquire;b;rroh_pd4 c.L tu56 r4d w ti Cohpde" Act,20lJ md ru16 rad" theFu;er s hr.h de

pRtot the subip(. mher of this rorb &dmhq\ mdslalrereb iare tu omotipd w$ wn e\er i! shtpd .n rhi. form ed m tJF dttachrenE

saq{r m1* or uu5 io'd has ben .uppressed o, .onledcd ed ir d Dpr ie origitulreF subrioi,s to re MmEnd@ of l$K.tion;d

It is fuithd dldarcd ed rerified that alt the equne.l arhchments t@ve ben onpletet,conetly dd lesi6ty atrrcled to rhj! tom.

2m6

52

ANNIXUR!- IISSUE DEIATIS/ SUMMARY TERj.T SIITET

l" *--f1!"". to $uc $e Debenhfts o privcF pra,mor @>rc. .hs Dnvarepia.md-. or u.bdhucs i5 be iB m d, pubum|lo lic rc,otrdo_ of $e Bodrd o.Dire-mrspns.d rt rts @hn8 hdtd d vr), 15, )0to dd Mcv to, 20.b. nrc.r<ue b app,ov. a b\ the

llllili ""i '*.:-" p"":d o--M"y 5, 20io udq .Rhon a2 ".d oif,, . ppr;bk

The .omon t€IG of the hsle a.e given lelow.

conedy^suer

oeoento'uo p'oposia r"-E-Ised-I-meconpmy wft! the final redemption aut" i" rl"expirt of 45 (Iofy rive) @nthl from fieAllotnist Date, .ar.yine such Intercst d

5tueo vdtutu butqpop privaie Umited

flatuef Instruenr

Ratea, senior, tuny lfui,titEi tiiii,ledeemble, trNferable, inrerest+ea ns nonconvertibLe debenturcssdred . ..... ..- _.-Grto--Et""t pfi;;i=---udy bose inveshcG who nave beh addresseddrough a colMhiation dn€rty bv wav ottle liJomation Mddand .; prihr.Placenen! Ofler knor dated t4d Jhe, 2016,de eligble to apply. No odrer !e6on .dpplt. AI in\e+ors Jre €quired ho comDlvwLth rhe rtevdt .g.l"ti"*7 g-aeti;"'"Jpplicable ro |llcm for inv€stinq n th.Debentures.lobe I sied on rhe wDMsegmcnrof BsE

rn campranG Eirlr rho EEMA (Trsnder orIssue of Security by a Person Residenr Oulsidatndiaxso.dnd Amendnent) ReSuralioro, 2014,

'n resp{t or i^lesrmenl by rcSisttrcd tore Ar

porrfolio inve*or f Fpr") ,n ro be trsted debtseculities, tle Conpay .onfirtu ihat h c6ethe Debentues issued to the SEBI resisteredFPIS de nor li6ted wiUrin 15 days 6;n rheAllotmot Date f.r ny ,eas;, fio L\econpdy snal imediatery r€ded orbuy!a.! dr Deb6tur6 ft.n ure Fpr.

!:s9rq

bb ( uouble 8,,) as ler rhe oodit ntinq letterdated 16d My, 2016 issued by Credft A;ahsis

up r,r INR 35,00,00,0m ondim Rupees Thn9

Option io retain oversubsdiption(Amountl

As per claue 4.3 (Prrpos a,l ufili,f.ior) ol tho

tle Compmy shall utilize the SuhsiptionAnount ody Ior dre lupose ol .reation oI theD6RA, neoting tre merinC Cosrs forcoshn.tion as per Schedule 35 dd paynentof my denan l lrcn govemenbl au&oriuesfor apprcvals relathg to 0E Prcj{t, inaccordan.e witi L\e Definitive Aglemdts

Detnils of contribution being made byure lromoters or dircctols eitner as panor fte Issuq or sepmtely in frnneran.eof the obj ects ol the Issue

N

Details of utilizrtion of thc pro.eeds The pro.eeds wil be utilized lor the Objects oitne INe. lae Company wil obtain and submit@d use certilicates from its stahrtory auditorsin ter@ ot the Debentue Ttusr Deed(t For dE pe od ..Mmcin8 fro;rnc

tnterest Comencemat Date till theIistOC Date 16% (Sixtaonpsent) pdaNum, acctued, componded odPayable Qrarherly in term ol theDebehue Trust Deed,

(n) From the First oc Ddte to the Sftond OCDate 1,,25%pd atuum, a..tued,compomded and layable Quarterly inter4 of fie Debenture Trust Deed.

(iri) Iro( the Second OC Dare 1s% peramua1' accrued, cohpounded ddPayable Qudteny in tels oI L\eDebentfre Trust Deed,

"!ist Oc Date" shal md tle dare ol €@iproi tr.upancy cdrifiote by Dss fron theconcemcd Govemonial Aurhority, wittrrspd to entne Proi4t (ex@pt Lhe nu$rvscrool, comercial bl*L 1 ;d "o*.-iiblock 2 md .oIMulEr building (Club) ddTowor d6i8nared as "J Bloc().

1,

,@

"Secord OC Date" shalt n6 &e dar€ olleceipt of 4cupancy certiJi@te by Dss lrom tieencemed Cover@ntal Authoriiy, withrespect [o mbre Poid (e\cepr the nuEery

Step U!/stcp Dom InteresrRzte As statcd in the Interc6t Rate ctause nentiored

Interest Palqent FrequencyAt the od oI €ch Qrarte., as sei out jn theDebenh& Trust Deod and Ropay{enr

Subject to reGiors as stakd in the InbeF*

I nter€s t Rosc t lroc€ss (inch dilg rares,spread, cffective date, inrarest rate .ap

As siated in tla Interest Rate ctanp @nrioned

Computation of lnterestlntcrcsl on Appli.afion Money (if sy) Nil. Alohnenr wil be sindrmeous wiiti

paynent of the s$eription anounr ardInterd win be chdgeable ftom the tnteresr

lI.ase ol a Payneni Delaulh 5,5% (Five pointtve pdceng pd amu4 on a Qurterlyconpouded bsir, over fld alove the Inrerestlale lrevailing at that timQ, charged on tne

tn case oI a Non Payment Delarnr 1% (Onepdcnr) Pq amufi on a Quflenyconpounded basir, over fld above the Interestrate prevailin8 at fiat time, charged on tleprincipal andnt oI all outstandjng Debdtues

It is .lariiied thar m Event of Delault arisingfron IailE to .reate s@.ib/ as G rcquiredprio! to lnterest Comnencenmt Datu, as selout in tne Detuntivo ASreenenrs will nor betreated N a Non Paynenr Defautt dd Detadtlnterest will not be payable on (fuene ot

45 monL\s tom $e Allotdent DJte

At dre end of cach of the Quartes co@encingkom expir/ of 36 months fron &e Allotnent

4act; 55

Date in equal itutalnents, as set out in tne

Rcdcmption Amodt pd Debenture At pd, i.e.,lNR 1,00,00,m0 0ndio RuFes onecrcre only) per Debenture

RedenPrion ftenid/Discountlssle Pric€/ price ar whic! theDebentues ac being offer€d in ludingfte picmium, if d, alorg witn

j-rstiri.ation or lhe pri.e

At pa! , i.e., INR 1,00,00000 (lndian Rupe6One Clorconly) ps Debenture

Discount at whi.h DeDentue is issuedand the effediwe yielit s a result ol such

Mandatory propatrentConpany shal @datorily .eded &eDebentules on being caled upon to do so onoccunence of dy lvenr of Ddault in tm oIthe Debenture Trst D@d.

Subject to AppD.able Law, &e Compay shallbe otitied to volunh.ily gopay dd redeenthe Debentures, whether in id or in pa*, nomsrrplus rcceivables non the hojed(detcimined in ac.ordance rvith rhe DebenturcTrust Deed) or lr6m the Prin.ipal DSRA, htelm of Lhe Debenture Tfust Deed, In .ase oldy sucn prepaynenr/ rhe company shaurcdeem the Debenttres held by all rheDebenture Holdels wno a& pehftrod underAp?licable laws to a(ept such prqaynent ona prc rab b6is/ ad such plepayment shatt norafi{t ihe Security or tte face vatue ot theDebmtules held by tho other jnetigibleDebdhue Holders (who are reshicted orllohibitod unde! Appli.able bw Ircmaccepthg srch PrePaFnent md earlyredenption oI Debentures held by thonl.

The Cohpany win be entitted to mak€ avoluntaiy prepay4ht by lionoter

oiomstdcas pusuant ro obrainirg wrftrencosent fron rhe Debenture Ttutue (actins on

/^\-1rvi 56

0'e Approved Iffbuftioro)

iNRTooFioo0"dr," i'p*GGMrnrnur appr'cahor rnd D hutriplcsof D€bentlres tiercahe!

1u uebentues dd in mulriptes of I Debenhu€

AsterthtDeGnfu.enrsrD@A-.-

Deposiiory(ic;-Susiness Day Convqnrion

lssqe TiminA

4, DchedDarc of Allormenrrssbcc node of thei$humenr

berrrcment mode of thc instnncnr ( t c5: rJetails of rhe Ulilizarion EscrowA@ut as per lhe infomtidn memorandhto be prepded as per ihe SEaI regllatioro.

NsDGd cGa.- --u prfoparpatment dareG) of the Debenturesfal on a day nor being a B6hess Day, thePrh.lPal laynmt shal be mde on the

If lnterest paynent dates of tne Debentu€s, Ia!on a day mt being a Bnsinass Day/ fie Intercstpayment shan be mde on fie ne* Busineqr

However, rhe last rnteresr paymenr wjlt !rtude wio' prncipat redenption / repaymmtdnd Busine$ Ddy convention wit be rirdr ofprincipal repaynmt. The inrerest in ,uch .6ewil be paid upro previds day of actuatrodenption / relayaent dar€.

r {tuee) dd)s Frior ro ea.h rnterest ?iymotDate ar4 or Redmption Dare.

A[ Sedred obligafio.lb be

(i) tust sole ad exctciveequitable nortgage

(ii) fi6t sole md exchsive .hrge by way oihypohec,hon on tne Hypothaied

(iii) ftst sole and d.t6ive charqe b, wav ofptagn on tt

" oss rtag"a Si.-!s;

ffi 5l

(r1 rr"r sore md e.crusG crra@-uy w$;.pledgeon t}'e Codpdy fted8ed Sharesj

(v) corporate $ardree of D6s;

(vt Pes.tul glardtee to be exeotud byea.h of the Pralmtels,

(vn) Any additioml sauiry, d thc DebenturaIloldes or D€benture Truree mayrequre dd as may be dsrecd uron bvtt'e e*uus, in "'eri* or tre" i,o*","ude. the Definitive Agleeiidrs, mddy ourer aser that beomes srbjecr ot

Nanedd Address ot the v.luerrhoperroned valuation oi the sc.uitvofrcred

(i) Thjs Disclosue Dtuent ,

(n) The Debentlre Subs.ription Ag.eeno!

(iii) lte Debenture Trusr Dee4

(iv) Ihe Debenhuo Tturee Appoinrnent

(v) fie Utitizaiion Ekow Agreenentj

(vi) nre PloF.r Revmue Etuw A8@@nt,

(v4 Ihe lonowing Sffity dofrnents to booxecuted in favour or dre DebentureTtutee to se.Ee ihe .momts due ddon'er obliSaiioro in rcspe.]t of rieDebenturs kole.iively the ,,Sa6ity

(d) corporat€ gerantee to be ex(utedby DSS

(!) Per$nal gudmtee ro be execuredby eacn ol trE Plonores

(c) Deed of Hypotl€ation ro beex@ted by rle obligoN in rolatioto the Hylotheated Assets

d) Unatteskd Shde Plcdee

58

Agreement to be exedred by rheConpany ior pledging 0E DSSPledged Shder along wir,\ &e

G) Umtt6ted share predgeA8leenent to be qecured byPrcmoters for ptedSing th;Codprny PledSed Shres. atongwith tie power oI anorey,

(r) Eguihble Mo{8a8e docunent byway or ex(urion or memorddumof enky dd diie.tor,s dectdarionrecording €qDirable mortS.ge bydepoer of bile deeds of p,oi{tLmd, to cleare .halge over dreMortgaged Properlyj and

(s) dy otnd asrements dddoMdis as nay be agleed by theParties and d6ignared by dreDebentuJe Trustee as Delinfiiv.

Conditions ft e.edent lo Di\bursemenr Conditiom Pr€edmr As srared in Oause t1 oithe Debent@ Trust Deed,

Canditians Sub5€qudi ro Di5busenrenr corditions subse+onr As statca; tiiuiT3of the De!6tue Ttust Deed.

,ls statea iI cra"se rs.r or oe Derrmrriiiiilrovisions related ro Cro$ Default A"y cross derauu <lors of my-oreaiiii

or the Obligos, wtere tte anount in delalltexceeds INR 1100,00,000 (jndia. RupeosFirteen crores onry), dd ihe sano is not;aidwnen due md dre applicable cure period, ifdy, has lap*d withou! rho obtigors, a6 theose nay be, renedying tle safu, which, in rhesob opnnon ol ure Debenture Tlusteo, hayadvssely afiect the Se@riry o! ihe ability oI 6;qqnpany to repay the DeltrenruEs

Roles and Responsibilities of Dcbenrue as mertionea ; the ocUeniirffiircluding as nnder Applieblc Llw

-,Gi

rax as .ppricbto *d; rd-i;nc ra;rcL-1961, or ay oo\e! sLatutory no{jitication or reenactmcnt lheleof will be deducred ar source.For seking Tm donpiion / tower rate otTD6, ielevanr .errilicare / doftment must belodgad bt' thc pebenture Holder at rhe office ot

59

the Resiskd beroru the Rd;Eb;;G;nnqto the relevant int€rest payment dare.

Hotrever, Investors my noie that as perIncone Tax Act,1961, tax is noi required to bededucted at source on interest payabte .ns@riry issued by d compdy, whde suchstuitt ts in deuteriali4d form md is Isredon a rsohized Stftt Exclanop in rnd;

Govcrnins tah dd ruj5diction I1re oelentur* ae gove-ed by-nd-hJ6icosb'@d in accordmca with rr existjnsIndim Laws. Slbj{t ro ite Agr€emenr didjipute arking in respoct thdeol win !€ subje.rto the oxclGive jdisdicri@ of ure .ourc odhibuals in the city oi Delhi.

ANNEtrIJRL II

I Srnd*p lJU,. dlm.or o- rhc .onpfly .u holupd o) rFe B@d o. diF,ob of rr,(mor\ dvid"

r*o1160\ dd,,o ta6 t\4ar. -0tb do trtr Mdy. 2116 I etsbv d(tdc ana

B.

The conpdy has conllied with ttro piovisios oi rhe Acr an<l the fulos nadethereunder in relation to the l$uei

fte compDm@ wir! the Act od rha rutes does not imply that payment ot <lividendd Inh' ! 6. or rcocyfr* or Deb-n|w). it appj."b e. is gu/eLeeo by -t-" c - Ecr

c. The monies received nndd tlE Isrc shau be used only for &e pu.poses m<l obj{Lsindicated in this Db.tsure DMent,

Ior Shree Vddhmr n Buildlro! frivate Linitcd

60

OTHER ANNEXURIS {tu rtr losr..l)

The ronowing d@msts are mclosed:

1.

2.

3.

Board rsolution of the Conpany aliholizilg tle Isrue;

Shddoldels resolution oI rle Conpdy ude! S€ti.n 42 .pproving md

Consent latter issued by the Debentuc Tture€ for ib aploinrment d DebenhrleTrutce lor the l$ue, ddCiedit R.ting lett€. isued by rh€ .iodt .ating agency atong with the rating ratiomle

Copy of Audftod lirhcial Stahnents lor dp lindciat yed mded March 31, 2m5;Copy of Aud ed Fimial Statements lor tle rilhciat yei oded Marh 31, 2014;Copy of Audited Finmcial Slatements for rhe findciat year oded Mard 31, 2013.

5.

6.

CERIIFIED TRUE EXTRACTS O[ TIIE RESOIUTION PASSED BY TI-TE BOARD OIP_l\lllgRg or sriRE€ VARDSM^N BUTLDPROp FRTVATE Lrr,frTEDrN rTSMIEflNC HELD ON IHE ]5{ DAy Ol MA1 nn6AT 30t, INDMPRAJ<ASHBLrItDjNC, X SARAKIAMA nOAD, NEW DEI Hr,room (DULy (oN.\ ENED !1/l!RO?!R QUORUM PRESIN"I)

Appoinfnent of Debenture Tflsree

"RT5OLVED THAT p6udt m 5Roon /t dd dv orhq p,or'isbG of thr Coopdjs A, L4 | ' "r bal be cDolrJble dd I ule5 dirle rhd.r.dpr dd atso r retu ot rhc, Dpbdh!,eTruto? Allointnet Agr€enenr to be ex{uted in rotation to qre issue and alobnent ofupb35 _(rhnty rive) nmber or tGbe 1iste4 rab.r, sanio, A y sdre4 redemable,hdfi

'rble. blN4'.banr8 rca..onv-Dbte debqus or !F value of INR L00,00 OOO/_(Ddd NupF\u' e(Jo'.ody) ed, h. r8gr"8adne uproJ5.00.00.000/_ flrdrn Ruo+5,Iturv

FNp (ro ". orJv) l'Debenrue, rIDBImUSfLLSHtp SEnVICES tIIdrFD,; conDdvnlorpda r udd lne Lompdps A, . 956. , d Fgis ered *de, the Se-.;;';;ry.rage^boi- d ot_tnd-a tDebmh! e . ffit.s, leeJationi I oa1. f"vin8 irs I egilcFd offi.eal Arid 6rildin& lZ R.Kd&iMd8. saldd E 1rp, M 6bd _ jOOOOt, md btrct olh.edl -l virinddv&e. vLldorri New Delhi_ 00,8, bc dd js nareby apporaFo sDebenture Ttrr€e for rie said issue oI Debeturs

RESOLVED IURTIIER TITAT tne Debdture Trutue Appoinhent Agreendr placedbefoie tne Bodd dd nntial€d by the Clannd for i.lendii.a_dd p*p**,-t" -a i, i*"Of

RESoLvrD FL RTHER IHAT Mr sede"p Jdin h.l A,t RLli Clpb Authoiadi?-p'6,r.rb!+ or ne Cmptur'. bp dd tuenereby.u \o,ired dd enpo;er"d, sev.raxy,.o do cll $"t arts- !\hB. Md dFd. tu m") be n{asry in |nis,"gu,a.a,a-g *rgdnior engaScment letter, Debe.Lure Tturtee Appohtmqt Agr€enenr.,, CrnNane NL. Sandee! jain ed

Shrcc Vordhmdn Buildproo pvt. ttd.Re9d orrce l0t rrd Froor. Indlaoraiash Bu,td,no21-Barakhamba Road. Nes Delhi 110 ooiPhoi! 011 43605560 (100 Liies). 2331r010. 23311041lm!l ndl6@iii!{ddhme9rcllahClN u]080012010pIC199361

tubbsile ww shreevardhmangrolp am

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RE€.MAN

@@@

CERTIFIED TRUE EXIIUqIS O! TIIE RISOLIMON IASSID BY TII! IOARD OFDIRICIORS OT SHRIE VARDH]IIAN BUIID?ROP IRTVATE IIMITID IN TTSMEITING qETD ON TIIE 16S DAY OF MA! 2016 AT 10 AM AT 301,INDRA?RAKASII BUILDINC, 21 BANAKIIAMBA ROAD, NEW DELHI llOOOl (DUL'CON'I"'ENED I4"ITII IRO?ER QUONUM PRISENT)

The Board oI Dn€.bs oI dre conpmy (,Bord,,) discuspd rtre requircments ot nisingndly by way.r issuance ad anohent oi u?ro 35 C1'lrirty Fivd nunbd of rcbe rishdmtedi smjor tully *.ured, redee@ble, hansferable, interest-bearing non{Ndribledeb.nbl€s of ja.e value ol lNr 1,00,00,000/ (lndid Rupes One arcre o,,ly) each,ag.fresatng upto INR 35,00,00,000/, (rndian Rupeo .rhnty Five Ciora oiry):'Debenhllc:'r. ro b! \sued a pd' on pnvd@ ptd.pf"n, bds i. j)vou oj ejgrbj"inv4roA/debo ur6 hod,'6 in uding KAUT yA fl\AN( E EV. a io(ign po,Jo :oinwsmr reg.,oFd Dda j" rBr {For"ig- po,roLio tnv",io-s, !"gxr"rion,;2oia wi,\iorerSn pol,olo r,Gro pgnhrrion -,nber I\\fn2r-r^ qth :ts olx e JrAPoLIOLA-AN 151, Amrqdalr, Nedertands(,subsclibel,) d rhe te@ and conditiomnertioned jn fie dralt iiJornation nemoradrn cun- p4vate placenent ofier Letter

f'Iy.,,."" o"."T"t offpr Lrn4 !h" D.oe.ue rru.ke cppoinmmr Isrepm"au b.- prion AgRTcnt r DS A ) as lbled beforc rh" Bodd

n c Ja.c or ln".ouowinS do, m6r p,ooo!"o to be e\m..d wih,p.p{r ro $6 dtor- adhsucrd "uordht or th, Ddbentu.d, wpr. db.pd bpfo." rl pBo,-dfo!,L(on.rdeation:

a) ThelnlormrionMemdh.tum-.h privabnacendtofierLetbe!;h) Iho DebehrrreSubs.ripijon AgPenut( DsA ),cl Deboture Trust@ AppdtrnentAgreeent( DTAA/)ld) uebentu re Tru* Deed I DTD td.de) Other necessary relarod docunenk,

(CoU(dvely relered to as ,,Defin iwe Asreemenk,,)

r\e Bo/d rook rote ot dU re D.ri, tivc Asre"nonb. wtu-, J - tu @pdb,\ in 'd3Eon

rhercro. A.Fr due ,otudei4tiod .he Boardr6oluhoro uaninouly:

\

(l Iu<L rdrkS $du'\? cl/ge brr {.y o'moltgcg. on srcuFhouling prcj<, r,ojer/oebS devnopcd b\ be (obpanv or orc tfd ddrec.uJiaB t .)o2 (crapn pobt hvosa two) aq$ (454?2.314 square netels) sftuated ar ViUage Badslah?u. Se.tor 67 o!Gnrgaon N4ansar Urbm Complex, cnrgaon owned by DSS I4tsouucture rri"oteLinfied (,,prcj*t t!nd,) uder ihe nane ,sruee Vardnn; Mhba-, alongwfth chargeon a[ the righrs oI Comlmy dd, or DSS hf!6h!.ture plivare United in-rhe projeci

(n) IiFt nnljn€ erclusive chdge by way ol hypothecari@ on receivabtes accroing to dreconpdy lrom the Projecr ncllding lril:zation e,".o- u..o*q r,o;""t ,-*e"o"6dow am@t PrcFd o?$ating aeout md my balances standhg to ihe cledittheeol ftom tifte to lime proc@ds flon insurce poticie, nd atf@sn flows ir. relatior to tle Projftt dd

(in) Fnst sole and eaclEire charge by way o! pledge on 100% (de hudred pqeniol thelo,l i sued .ub'nlFd "n<t pdd-up equty.h"e ot D\5 td-dsEu.tu,e p,rvdr"Lintel( DSS ).dwholvow-cd$bsrdia,yor LleCobps)j

(iv\ lirrr soFed ucbivedrrge by wayo p'edepd tooq toncnm.b"d ppronr)orfieoral irsued_ subv

' ibcd dd Ddd- ,p equw st.." ot rhp Conpdj j

(v) coipoEte surdlee of Dss;

(vi) P6@l slddte$ oI ach o! $e plonoror6 or rne Conpdy iesandeep Janr, SdjayJain, Rbhi Gupra, Asho! Kum:r Cupra; and

(wii) Any other sdnq interest agEed in reis oI dre Delinftive Agreemmrs or otheMisereqdro<t for secuing the Debarures.

REsolvED THAT applovaL o! thc Board !e dd is lereby accorded ro cleai€ o! ecu.ec,edtn do pcr trhon of lne 5p uid n ,aodmce *lth thp DoiDtivp Agrhen6. nLvtuof .|-" Sub.qrba rd / or IDBI TrulreblnD Se, r ces LimiFd., omp;y,egi.!e!"dDd? Jrp c4.d6 E\lhdge BoJrd ot so.a rDpbpnh!" Trutcp!) rreglt;o; t9.Jlyl'is16 rpg:|e { o(l'rc dr Asih Buldhs. croud Floo-. JZ R. rd@i Md& BdlrarqItst-ie.Mrbr - 40000| rd be.nor(e"r t-1. vintundMtu& vL!6pLri. N;* Deln,ll00l8("D.bentueTtustee,..poo'-eo/rob,appoinLedIorrh"b$eJjlo Lhe debrnture

Co4Pany, md ?u6!ant/subF.t to the apprcvat o! the shareholddsway.r slecial resolurion, whde leq[ncd, the Bcrd helcul csrescreation dd perfection of the s@ri9 to smi€ fie Debmares, nDeJnd\ " Ag-pcn.n r ir .ludjng $c rouo*u8 f s.cu rity l:

\o de'. i. udng Lhc subru,ber 6s,, uJe rhc obtjg. tion ro pay h) dd dU hountJ p,yrb e

9 y-e dpb^-'re \oldMr nlludir g trp subs.. o, by Lip cbmpdny putu b. b $. F.T of

Rt€gqvFD THAT |ne Bodd do -ercby dppr@p rhc drdt or rh" rrJomqbonor+nd 'a .um- Prir"ts Pld@nhr O.'a _.mr, D-AA Drc eo orhr DerhEve

9!l9d befoe rhe Bodd md nntiale<l by the channm for trE pupGe ofFlrb\ierN hd conditiore staled ihorejn, inciudilg the ,TdG oi tssrd,

2

'j7i"'*****

nl SOLVED rURl HlR THAT ,}" Cnnpd/ "L,U npd e/ pJo!idc \r.} .ptui.ei drpd,ror?acr fd lhdgdq.4d.u.h do.u.nbd5 h.nnoned ifl rhe D"fi, bLe Ae-Fena-.

:l.olvF?,ryl'flElrl1'MJ. sdde.p Jain dd M,. Rj"r_i curr., Dtecors of rneerpdy. {$" Authorized Represenhriver) be dd are h"Fby d!thorized, sver.Iv ro:tx coa?v io ttlp Uebshxd lrurt4p. "(eprare of Lhe te,tr of,6,lpoinrofnt ir .-s oIhe u,AA r d d/ l*, tenE en h&8pd h Ftrtjon |}eEro dd dc."pLncp or ,ne Frtu oife,@ber torc trut dFd: (

't *4re rhc Dd nEvd Agreemonrs on behal or rhe coDDdvmq agre. b u I .hdg4 dd moditi,dtionq as m/ be lequi,ed non M. to time in di,

u-r h Np ASrRD,mt) dd ro d\eruF tl e tpttpj or cloe^sr of Dpb"nhxs dd lch deeqimtum46 d,l otxer {ribng! d m . f n(6uy or.equijda .or dJs pupo*j tLii) to jhma/or 6pdrd rr do.lbtub /J .odn, -eqr,pd: (,vJ d".de,p- L\t"bhh" "f ;.inS rhe FFo.inrs..L renuFhd scbB cov* rhq.otdo

to aplont depositdieo/ anuSers, regstrds, bant€rs dd o&* At"-i"a;",t""7.g*t" *rvr o rr. r pdb rrcF/'pru!tu 6 ncJ b. Fqupd und"r appl,

"b e t.q in r;ecl ot rhprs k' " dd qxomell of Dpbenhu\ md dX orh4 n" $.dy brN, do-mo 6 rd ,arumwi$ dl ol:im:d Rpsi b"ro. Ioapep,. Lh" depo.:ro,E. dd dy o$er.oo oetenritu lni..(vi),osed rdn$id ot DebstuJe( propo:"d .oF 6rued b, ihc ( onpdy i, o Nationdt \,tu. bp, D"pci.o,/ 0ndi"l thi.F; ,iSD-r /i oad uepoq bn 5dni $ rnd i.) uarad (cDsL/ T erabt" dre d"o .nru e I otdds or l;( onp&y rohotd u.-' debpntu,eqin d.n"rpnJ2ed ron md appo.ntAt.rJir As.iqmenL!1y*::, *q:y- mrr r,at { Asenr fo, j" 5"d p*p*" rr'q t a.; _tr"*i.^p1hd. rr ro,raLitse5 dd

'eqrFm"nLs ror Lhe puoo<e or L5ME *" Deb"nhre. o; *p dsEary do, unen6 ro rhcrredtion dd pqfe.oon o (n" sc.u, jt),

D.ruMg d{ ver to dd depo,ir ,i$ *p Debenta,e j!u{"e o! rrrh lucl "rriry a my b;noDjmrod by r}te Debennre Trlsre€, ihe tftte deeds oi rhe con.ehed i@ovabie prop;dcswiLhd r?nl io.or- d.qriubt" no- 8dg. n *co,d"n.e wrrh |lle DAA dd regiJer rlerh% t dhnml\ siLh rhc otucn"d (ub,eCisb.- ol tur.dces: ry) aerde Lpor iu.hourd tuttes d oay be n<6ery in resp(t ot the issumce md altofinent oI Deb;turc (ix)dd (xt to d€clte any ooE requisite documqt in rerpecr ot Debenhrles.

RESOIVm FURTIIER THIIT rhe Authonred Representariwes be dd de lerebv severaDvruhold ro n"6dia'.. pro.ps., approvo. ertjfy ed ;.U,* oil. nd{dbg! dd oL.e- wridiSr ds my be nrs:cry o.%qL,Fd b' b" DUpc6 afo,A<r,d. dd to ds^o. sd e\trE dy drsdbots ormt dgeemenh. de"d. otupnL uldcr.dirgs? rcp,prenlabotu

P:Tr3ea tertc's. ituhbos md ol.er Mitinsr, ind rdins .ir.*Lag*. "ioPDr/ bjdr .onl ! tu bolh) dd /o! dy -enawdt do( umnb. "q dd when ne. ashd dd%gistpr dr... 1rc q rth e) .brrof ru-horiq/a, tu), oereqjrediiom ueotiqedd iop $- rel"vmr rgJd,ory dudoride. r,o gir'" eii{. s $pe oluhon . otenp r Led hoDin dd

"U o \o ,e;tuno; ps,ed b, drp Bo",d or Diraro-dq!@ndeturdeE lroh time ro rime

TItInTH 4T rhp Iurhdr& ppp,e.enkbv ) be dd aF j p,po) s"v"ral /Eit

to tlr *ock cxdnse(s), my i*o*ti-."a ao*oe"u trut.uy t'"o tir e. udr hp dppuGblp t"\. wr+ , esDpd ro lisffg oI Dpb"1aF.l- pml ple "pprc%t. fi .l "ppo'at o;b.,ins. .re;hon o l."u8

:SOL\,.ED

on,4-ed lto \ p,!\dg{c)dd oLner in.id"nbt ;tlere -Feiero.

g:-or! T.FU,RTHER I HlT U.e r(srry nh* be tude in u\e rcgilter or debpntuerdo* &d 0 tf e rpg{e or ctrdSes of Lhe cobpdy Lo rc, o-d th" q6d)n of $e cJoaJd)ro,ryud be dletdr dd r b.dd d,c ho,Aby ,pverdlty au Lhopcd .oao F dd

'cgrra- rhe cha rad wirh th- o cdr"d Feg$dr- ot con pdnics.

R!-SOIVED zuRTHIR TIIAT the Co@on Sel oi the Cohpuy, whdav* rcquned" berriJed d rl.sucn Dcpa,. d"eds rd dmmqs indudine $" dto,6ajd do.uren; rsmavncccordrne wi|Jrthc Arhllpr ot Aso.i.tionoI$e Codpdy.

RISOIVLD FIJRfHEI( rH AT,opJ of rhp cbov. -solurior oe frmjshed ro av dbw bc:d(d

1\ bu" i opv b dy o ured,erosorrhecorpdyfd rucn qtfty i!duGori?edroa.rdo rey Lpon rhis cftuso- dd rhi! eotrfio wi! norbc Fvoti o_ re-indedwithout the prio! apprcval oI the Debenture Trutee.,,

AN }UIlDP4OP PRTVATE LIMI]TD

&,F\J'*:

E@

CERTITIED TITUE COIY OF IXTRACIS OF THE SPECIAL RESOLUTION IASSED BYTHI SHAREqOLDERS OF SHREI VARDHMAN SU1LDPROP IRTVATE IIMTTED INl'HE EXIRA ORDINARY GINERAI MEETING OF THE COM?ANY HEI,D ON TIIE15TIT DAY OF MAI 2M6 AT 1:OO PM AT 301, INDRAPRA(ASH AUIDINC, 21BANAIfiAMAA ROAD, NEW DIIIII 11OOO1

"RESOLVED THAT pursmt io section 42 ot the ConFnies Ad, 2013, rcad wih Rule 14of d€ cornpanies (?rspectus dd Allobnmt of securilies) Ruts, 2014 ad othe! arrriobteD o .iotu,r .nv. o. d- o nortu, d A, /0r1 oLh,, app n,.e t"-".. rd mmd_ ;; n"rd" hrl". ol o -o ! lon oI rh" o 4.dv. l}" .otuen. o, h \onpdy o" nd, F,ebr..od d otreBdrco Di,.<b,,of b(ompuvroi- e. po ,5 rlhr.rr hv"l rumb-J ofio-b. ,ldl GFd. yno'. tJlly y.r dd. redpedab'c. kftfprab ", ,aFF, -bedme non.'d \e, I bl" d"b-r L'$ o. lF r.Jxp or jNR t,00.00000/. .lnoid RupF" o, e Crc; ortyleach, aggregating upro 3s,00,00,000/- (r..dim Rupees Thirty rive Cror6 o,rry)(Debmtures') to b! i$red ar pd, Lry way of p;ivare pr"6."nt, to p,o.p".tiiinrvestots/debentule holdeF inchdingKAuTrlyA FTNANCE BV, a toFien D;(otio|'.va,b. ., sLrA,dd Lndor fi" cFB rroF'cn R.s,1,".*: )o a *ibforoign porfolio investor rcgishahon number tNNLFpl2sSls, -widr ils of6e atAIOLIOLAAN 151, AnEbrdan, Nethe ands.

RESOI vl D lURfHrn TH 4T. b' J " ou po"e o. Ci\-,g pred Lo L5r\ eoturon I.e Bo",_of DiF. b - o'll e.otrory b€ dd .t"?byerer y iurhoaz"d to tnJ,a, "tu"rdesuie sx.h dcuruls/ d*dr witirSs, papeN, aM/or agr€nenls as fty be rcqunedind do all su.h acls, d@ds, nattaa &d dnngs, s it may in ils ab6oluF disfterion deem fiL

REsoI-vED FUI{THER THAT copy of L\e above r$olurion be turnjst€d ro anv eniiiv smay be requjred, €rbJied a rrue copy by any ol rle dne.brs oI rr\e compdy',

MAN BUILDPNOF PRryATT LIMITED

Shrcc Vordhmon Buildt roo pvt. ttd.Regd 0ilrce 301 3rd Froor Indlap'jrashBu'rdrnq2l.Bararhamba Road N€w Delh' rro ooiPho0e 011. 13605560 (100 Liiet, 23311040. 233t1041En,ir :f ,nli@shrcn!rdhndE@p onc [. !?02000t2010pTc1993i3WebsLle: M stueevadh@nsrcup com

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IDBI Trust€eship Seruic€s Ltd

, L$elrsvaPa/ct/16-17/DE3/12s

shreevardhman Buitdprop privare rihited. 30l,Thndfloor,tndEprakashBuitding,. 21, 8ai:khambr Road,

Non conveni6re Debcnrdrer

This kwith relerence to thedkcu$joiwa had.eg:rdinsapDojtrtndotoJrDBr1r ke ror rhP d,@o.ed *. d \

we me asre@bre for hdsrod of ou name a, nudee in the offer documenvdGcosure do.ument or idy olherauthodry* ftquned slbjed to rhe 1o

1. rhe cohpaiy shatenter into writtei Dabedturc r.uneeooenrtrgof subscription I n fori$ueof debcilures.

rlie company agrees aid undsdakes to deate rhe se(dtiej over su.h of iE idmovabe aid moveabe"i:.i"] :: 'rl - "- d Dnb.ne DrLno "ndu" Lc. 11" Deo6n(,e_tu.r o".d (o D,ai d 01'qbl4l.J'tydoua{t!oPjpd.od". c8'-d b? ( r r,e ho.Trileanoirhs ftom ll eclosu'eottssue drdhr

l: c..pi1 a*6 a *do^.k"" io pay !o thg Dcbenrure rtonees.so ors a3 rhey hord lhe drnle of rhe

h.rgos and ekperses whkh rhe Dobenturc Trujtee or rhetr ofllrcr,

5 n rejped of rhe oeben(urcjl

" " "."".,,, ,,"" ,""^ _."EJ"_"_i:d ruriv paid.or and th. ,equ^'e

TheCompaiy sh3r :sree 3 uidubl oi srB lDeborrrJe r,!qPP(, R,S. 4l::;,^.::,^".1,::::^^^..11-1,:... ", "";. ,;:,.,;.,.';.'..:;;,:"."ii*.';J""1,:s:,"T;.-i:,'':"J,.:1"/.y:--1, .: "y,,

h, i,"v.y ro,o;: -ot';'' ';",;;"..,.:,, ".;;":;,,,"

::" ::.:."1^ "l:-:^"r!-,r:.!""' ", " . .or' "'

,.":r" l,*:;;;"';" ";:;;i; :#;;.;,:

Ter. : 0224080 7000 . aar : 022,6631 1776 .

asqiinS yo! of ovrbesr serukei at 3ll times;

h! dvm$t rn - Fd of ebenr;Le5 Fqui ed to be mrd! o/ tde Debertu e rru'ee ro : DebenL' d tro de .

' (*hc k; iiF""tvln tne r nio;arorcemht s,Jb 't

requ rd bY apor'Gbh r.{, bP {bje4 br\e tiorDoodoiqB'a'ien'eaiGkethbusnalAu*;r'eoDe.e' fiecompad/

^enorrncl obrain.rlsaih

appro{;., ir reqlned, to ensue prcmoi,d rinelY pdYmeo$ to tni laid DebelstHo di'. surl'{nnsRe::3halr mr et€;arotal invenment land interest prwided roi herain) made by the oohstud Eolds lwhb is a

.:tlD.

tooriniio,wnd to : f'Litr;l aso(ialionwnh,ou.nd

F.rshrceva.dhmd Buildprop Pdvatet

@Jrul4ilresi

MJ

caRE/oRo/RV201e1Z1lso

shrec Vardhnan Bu dproplo1, 3d fl a6., hdraprakash

c.n6denltal

Pkase retorto your requei rorhInS rtrc Non Converiibte Debentdrer ofyourcomp.nV2. Thefouowirsratin8shavobeena$ignedbyo!,R.tinsCofrmuco:

5. The abtjve raiidgjr.orma yvatid fohol nringlo you rhat is May 19 2016,

thc rJtingtronr time lo tihe/ based on

su.h rovtcvsutoajtLancc.vcry yeir.

pcfiod olonc year {rom the date.otour i0irlal .o,nhunic.t|on

CARE resdives rhi rieht ro u(de.tate a ruruei ;ne/revjew orcircunnan.et.waranrins su.h rovil:wi subjed ro.r teast dne

d|h|lfuEa|b:v''?

r,.artr., "

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r";.;;",,]i!l"";*r.i,",,;,, i l:: I,;:j;ffi I *,r"

3, HefcrAnnerufe l fordetails ofrarcd frcitnids

a. The Frionrlelor dL €rhewiU bd comfruhkaied to you sepa,ately.

5. CARE reseees the ri3ht to su5pend/$irhdraqrevjse. the rdring a$isned otr rhe b:sis d, ncvrrni0mrtionorin$ccvcntotfaiturc.nihepadotth.cnritylo,urnishsu.hintormation,nale

rtof

CREOIIANAIYS6 & RESfARCH rID.

!iir:' :: j.:l;t;1...i,;';;;,;tfi jjt."*'@14 !r.3!Gd..!n!i

I hvlx4i +<s:

caRE i.tiGr do nor rake into ac.ount thc sovercisn rhk, il:ny, atrached to r[c foreiSn curoicyloan!, and rho rarinSe ara dppricabteohtylo thc rupeeequivalentofrhere toans.

(recs ol this.rtinE may [jn.]ty rotc' our wdb3jle !\w..: rerannRs..om ro. tarcn updde on the

9- CAnE ratinss are not.ecommendarionr ro saicrion, renew,_dhburseoi.ecaI any bnkfi.iirics,

tO rf you nced .ny .tariiication, you are wet.one to ippro0ch us in rhk leglrn. We 4e indeed, Sratc{utro tou rorcnkustiq ihis assisnmenito caRE.

chrjfiGtioir as may be..q!i.ed bv f_aRE, CARE3ha[ aho be

suspension/withdriwayrevision in ihc a$ic.ed raitig ti any

\JnL""l",\

nishrha.chugh@caro6thes,com

enr'ired io pubrici?e/dissentnatc such

franncr @n5idered appropriate bV tr,

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