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ANNUAL REPORT 2016-2017Light at the end of the Tunnel .

ContentsTheme Note. 01At a Glance. 02Corporate Information. 04Pan India Presence. 05Management Discussion & Analysis. 08Directors’ Report. 12Corporate Governance Report. 39FINANCIAL STATEMENTSStandaloneIndependent Auditors’ Report. 53Balance Sheet. 59Statement of Profit & Loss. 60Cash Flow Statement. 62Summary of SignificantAccounting Notes. 64ConsolidatedIndependent Auditors’ Report.120Consolidated Balance Sheet. 126Statement of Consolidated Profit & Loss. 128Consolidated Cash Flow Statement. 130Summary of SignificantAccounting Notes. 134Summary of Financial Informationof Subsidiary Companies. 193

LIGHT AT THEend OF THE TUNNEL .The infrastructure sector in India has witnessed significantrecovery during the year. The Cabinet Committee on EconomicAffairs, The Ministry of Road Transport and Highways, TheCentral Government have taken several initiatives to boostthe overall Indian economy especially the infrastructure sector.The Central Government allocated a sum of INR 3,96,000crores for catalysing infrastructural development in India.Make in India, Smart Cities, NamamiGange, Pradhan Mantri Gram SinchaiYojana, Atal Mission for Rejuvenationand Urban Transformation (AMRUT) arefew of the major initiatives announcedby the Government to give a new leaseof life to the ailing infrastructure sectoras well as the economy. Demonetizationand GST are some of the path breakingreforms initiated by the Government togive a new fillip to the economy. Webelieve, in the long run these initiativeswill be extremely beneficial to theeconomy at large and your company.Your company has faced majorheadwinds in the past but now webelieve that light at the end of the tunnelis slowly being seen. The Company hasclosely worked with all stakeholders onrestructuring the debt profile and we willeventually come out better and stronger.The company my opt to monetise someof its assets in order to leverage debtand tap newer market opportunities toreduce concentration risks. The Companyhas forged a unique business modelcharacterised by backward integrationof EPC operations and a cluster-basedexecution strategy which gives us theconfidence that we will see better daysgoing forward. The company is blessedwith a healthy pipeline of projectsand we have prioritised our projects,rescheduled our activities and optimizedthe delivery schedules. Even in turbulenttimes like last few years and with limitedfinancing avenues, your company hasmanaged to get new orders, executeexisting ones and build a healthy anddiversified order book portfolio. Themanagement is confident that once thefinancial restructuring is completed verysoon this year, the company would beback on its feet with improved revenuesand profitability returning back to thecompany.ANNUAL REPORT 2016-171

AT A GLANCEWe are an integrated infrastructure player with a presence across multiple EPCsegments and a current portfolio of 11 BOT projects. Our diverse executioncapabilities have enabled us to build a diversified presence in 6 segments–Roads, Bridges, Buildings, Railways, Power and Water Infrastructure. We arefully integrated in terms of raw material availability through the ownershipof quarries, crusher plants, ready-mix concrete and wet mix plants. We alsohave a diversified presence in 13 states across India and cater to variety ofclientele across the Government and the private sector.Our unique businessmodel is characterised by backward integration of EPC operations and acluster based execution strategy. This has enabled a smooth transition in theasset development space and allowed us to build robust portfolio of road BOTprojects6313110403EPC Segments we are present inNo of States where we are presentCurrent BOT ProjectsOperational BOT ProjectsUnder ConstructionBOT Projects02C.O.D Achieved 3067.92Crores Current Order Book(as of March 31, 2017)2SUPREME INFRASTRUCTURE INDIA LIMITED02N.H.A.I Takenover

BuildingsPowerRailways65%Contribution to Total Order Book (%)1,992.46Current Order Book As of March 31, 2017( In Crores)BUSINESS VERTICALSRoads %TOTAL3,067.92100%Power8%Railways Others0.25% 0.25%Buildings27%Roads &Bridges 65%ANNUAL REPORT 2016-173

CORPORATE INFORMATIONBOARD OF DIRECTORSBANKERS & INSTITUTIONSMr. B. H. SharmaState Bank of IndiaExecutive ChairmanMr. Vikram SharmaManaging DirectorState Bank of PatialaUnion Bank of IndiaMr. Vikas SharmaPunjab National BankWhole Time Director & Chief Financial OfficerBank of IndiaMr. V. P. SinghCentral Bank of IndiaIndependent DirectorMr. Vinod AgarwalaCanara BankIndependent DirectorSyndicate BankMr. S.K.MishraICICI Bank Ltd.Independent DirectorMrs. Nilima MansukhaniIndependent DirectorAxis Bank Ltd.SREI Infrastructure Finance Ltd.Mr. Dakshendra AgarwalNon-Executive DirectorREGISTERED OFFICECOMPANY SECRETARYMr. Vijay JoshiSTATUTORY AUDITORSSupreme House,Plot No. 94/C Pratap Gad,Opp. I.I.T Main Gate, Powai,Mumbai – 400 076Tel: 91 22 6128 9700Fax: 91 22 6128 9711CIN No.: L74999MH1983PLC029752Walker Chandiok & Co LLPChartered AccountantsShah & KathariyaChartered Accountants4SUPREME INFRASTRUCTURE INDIA LIMITEDREGISTRAR AND TRANSFER AGENTSBIG SHARE SERVICES PVT. LTD.1st Floor, Bharat Tin Works Building,Opp. Vasant Oasis Apartments,MaroL, Maroshi Road, Andheri East,Mumbai 400059Tel: 91 22 6263 8200

PAN INDIA PRESENCEHIMACHAL PRADESHARUNACHAL PRADESHPUNJABHARYANA &DELHI NCRUTTAR PRADESHASSAMRAJASTHANBIHARWEST BENGALMAHARASHTRAJHARKHANDORISSAANNUAL REPORT 2016-175

OUR OPERATIONAL BOT ASSETSyyMANOR WADA BHIWANDI, Maharashtrayy 5,540 Million Project Costyy49% Supreme Stakeyy4,132 Million Sanctioned DebtyyKOPARGAON AHMEDNAGAR TOLLWAYSPVT. LTDyy2,340 Million Project Costyy51% Supreme Stakeyy70.9 Kms Road Lengthyy1,490 Million Sanctioned DebtyyPATIALA NABHA MALERKOTLA, PunjabyyVASAI BHIWANDI, Maharashtrayy930 Million Project Costyy2,140 Million Project Costyy100% Supreme Stakeyy100% Supreme Stakeyy650 Million Sanctioned Debtyy1,890 Million Sanctioned Debtyy55.7 Kms Road Lengthyy26 Kms Road lengthyy55 Kms Road LengthProjects Completed during the yearRoads & BridgesNagar Phase I ProjectWater InfrastructureDesign and Construction of Combined(1.56ML*2) R.C.C Elevated ServiceReserviour at Anandpur, ward no-108 onTurn key basis under JnNURM6Roads & BridgesKotkapura Muktasar siteWater InfrastructureDesign and Construction of 0.5 Mg Semiunderground Reservoir Cum Pumpingstation and Ancillary Building andcombined (2.74 ML 2.206 ML) R.C.CElevated service reservoir at Mukundpurin ward No - 109 on Turnkey Basis underJnNurmSUPREME INFRASTRUCTURE INDIA LIMITEDWater InfrastructureChetla Booster Pumping Station, Kolkatainaugurated by Ms. Mamta Banerjee, CMWest BengalBuildingsConstruction work of Rehab Building No 2& 3 on the plot of land bearing CTS No 49(pt) of village pahadi Goregaon, YashwantNagar, Goregaon (West), Mumbai- 400090

Projects Completed during the yearBuildingRoads & BridgesFour laning of Sangli Shiroli Road ProjectBuildingConstruction of 7400 (G 4) Nos Fivestoreyed EWS house under JNNURM.(DUSIB)Construction of MICM at Tamando,BhubaneswarRoads & BridgeWater InfrastructureConstruction of Flyover at Rajnoli junction(Km. 549/200) and at Mankoli Junction(Km. 554/750) on NH3, Thane- NashikRoad, One Flyover at Mankoli (RHS)Handedover to MMRDA.Resurfacing and strengthening ofBituminous roads in Majiwada – Manpadaward Committee.Project Inauguration CeremonyMankoli FlyoverChetla Booster Pumping StationShri Devendra Fadnavis, Hon. CM MaharashtraMs. Mamta Banerjee, Hon. CM West BengalPrafulla ParkMr. Bobby Hakim, Hon.Minister ofUrban Development, West BengalANNUAL REPORT 2016-177

MANAGEMENT DISCUSSION& ANALYSISGLOBAL ECONOMYOVERVIEWThe global economy is in the midst of adecade-long slow growth environmentcharacterized by an imminent productivitygrowth crisis. The looming labour shortagein mature economies and skill deficienciesin emerging markets will add furtherchallenges to global economic prospect.Global financial markets continue toface elevated levels of uncertaintynotwithstanding the resilience to theoutcomes of BREXIT referendum andthe US election. Goldman Sachs expectsglobal growth for 2017 to be 3.5%. TheUS has led this improvement by growingat 2-3% growth. Fiscal easing is alsolikely under the Trump administration,Europe’s growth forecast is 1.5% which isconsistent with the gradual labour marketimprovement, and Japan’s growth rate isin the range of 1% due to weakness in thedemographics and decline in the workingage population. China is expected to growby 6.5%; however, long- term concernsremain due to the continued rapid debtgrowth, which has a potential to causefinancial weakness. Growth is projected topick up from 2017 onwards, almost entirelyon account of developments in emergingmarket and developing economies.This reflects primarily two factors: thegradual normalization of macroeconomicconditions in several countries experiencingdeep recessions and the increasing weightof the fast-growing countries in this group,in the world economy.growth, the Government stuck to a marketfriendly budget for FY 2017. The budgetpursued growth-supportive policies whiletargeting a narrower deficit of 3.2% ofGDP, and was met with a positive marketreaction.INDUSTRY OVERVIEWInfrastructure sector is a major driverfor the Indian economy. India’s overalldevelopment would not be possiblewithout propelling the infrastructure sector.The sector is of the utmost importance byinitiating policies which would ensure timebound creation of world class infrastructurein the country.In the Union Budget 2017-18, theGovernment of India has taken thefollowing measures for the development ofinfrastructure.yyIncreased total infrastructure outlayand defence capital expenditure by 10per cent and 20.6 per cent to Rs 396,135crore (US 59.18 billion) and Rs 86,488crore (US 13.1 billion) respectively, overFY17 revised estimate.yyRailwayexpenditure allocation hasincreased by 8 per cent to Rs 131,000crore (US 19.58 billion) for laying down3,500 km of railway lines in 2017-18.yyAffordable housing has been giveninfrastructure status.yyLock-in period for long-term capitalgains on land and buildings has beenreduced from three to two years.INDIANECONOMY 1. RoadsOVERVIEWThe Indian Government plans to developIndia’s economy is slowly gainingmomentum, with an expected GDP growthof 7.5% in 2017. Despite some delays indomestic policy reforms and enduringfragilities in the banking system, investmentdemand is supported by the monetaryeasing cycle, rising FDI, and governmentefforts towards infrastructure investmentsand public-private partnerships. Economicactivity is beginning to firm up afterdemonetization shocked the economy,resulting in massive cash shortagesand economic disruptions through theeconomy at the end of last year; growthis expected to have slowed to a multi-yearlow in Q3 FY 2016. The manufacturingPMI crossed into expansionary territoryin January 2017 and imports rebounded.Despite the backdrop of more moderate8a total of 66,117 kms of roads underdifferent programmes such as theNational Highways Development Project,Special Accelerated Road DevelopmentProgramme in North East and Left WingExtremism. The Indian Government hasidentified the development of 2,000 kmsof coastal roads to improve connectivitybetween ports and remote villages. TheMinistry has targeted awarding of 25,000km and constructing 15,000 km of nationalhighways during 2017-18 that translatesinto 41 km of road construction daily whichstood at 18.5 km per day until recently.Further, NHAI has taken a policy decisionnot to award any project unless it acquires90% of required land. Investments in roadswill be funded through budgetary support,market borrowings by NHAI and throughSUPREME INFRASTRUCTURE INDIA LIMITEDprivate and overseas investors2. PowerDuring FY 2017, the Indian power sectorachieved a total capacity addition of 24.8GW. The renewable energy sector capacityaddition of 14.4 GW in fiscal 2017 surpassedthe capacity addition in all other sectorsput together. In the last fiscal, thermalpower capacity addition was 7.7 GW, hydrocapacity addition was 1.7 GW and nuclearcapacity addition was 1 GW. According tothe Ministry of New & Renewable Energy(MNRE), this record capacity addition inrenewable space was led by wind andsolar power capacity additions at 5.4 GWand 5.5 GW respectively reflecting thefocus and policy push of the governmentas well as the competitive keenness ofthe industry players. Despite the highgrowth of renewables, India’s energy mix isexpected to predominantly remain skewedtowards thermal sources. The overall deficitin fulfilling the energy requirement of thecountry has declined from 11.5% in FY97to 2.1% in FY16. The energy requirement isestimated to increase at a CAGR of 7% from1,354,874 million units in FY17 to 1,904,862million units in FY22. Hence, it is expectedthat the production would keep pace withdemand.3. Real EstateThe real estate sector has been witnessinga paradigm shift during recent yearsthrough steady transformation to becomea structured sector from an unorganizedsector. The shift is attributable to increasedparticipation from private equity playersand effective legislation.The increased confidence in the sector isa perfect parameter to anticipate revivalof the sector and the growth prospectsof the sector. The current regime has alsointroduced and formalized various initiativeslike the REITs Regulations, Smart Cities, theReal Estate (Regulation and Development)Act, 2016. Such initiatives can prove to bea solid foundation for fostering growth inthe long-term. The Central Bank continuesto take measures to soften the interestrates and enhance liquidity. It has also beenpushing the banks to pass on the benefit oflower interest rates to the customers. Oncethese benefits are passed to the customers,the sector will witness enhanceddemand flowing in. The Central and StateGovernments have granted infrastructurestatus to affordable housing for urbanand rural housing projects. The CentralGovernment is targeting Housing for All by

MANAGEMENT DISCUSSION& ANALYSIS2022 under Pradhan MantriAwaasYojana(PMAY). Policies like GST and RERA will easetax-related complexities and ensure moreaccountability and transparency regardingthe project completion time and its cost.4. Water InfrastructureThe Make in India Initiatives, SwachhBharat Abhiyan and the NamamiGangeprojects are expected to create significantopportunities in this segment. The NationalMission for Clean Ganga (NMCG) hasapproved 26 projects worth INR 2,154.28crore under the Centre’s ‘Namami Gange’programme. These are specifically aimed toclean the contaminated waters and make itat least fit for bathing5. RailwaysThe Government of India is aiming totarget higher investments by prioritizingthe decongestion of heavy haul routes andspeeding up trains. The Railway Ministryhas earmarked an investment of USD 133.5billion towards the development of railwayssector over the next five years ending 2019(Source: KPMG). Pace of building newrailway lines is set to almost double from 7km/day during FY17 to 13 km/day in FY18.Source: KPMGBUSINESSOVERVIEWSupreme Infrastructure India Limited(SIIL) is a well-diversified and multifacetedcompany with a strong base ininfrastructure related activities. TheCompany provides construction services asan EPC contractor and , principal contractorand sub-contractor across various states inIndia and also undertakes road projects ona BOT basis. It has a strong presence acrossseveral states in India, with multi-stateexecution capabilities in six EPC segments:Roads, Bridges, Buildings, Railways, Powerand Water Infrastructure.Financial Overview StandaloneTotal Revenues from Operations decreasedby 13% to Rs. 10,501 mn. on a YoY basis ascompared to Rs. 12,097 mn in FY2016.yyEBIDTA decreased by 27% to Rs. 1,414mn on a YoY basis as compared to Rs.1,938 mn in FY 2016. (Excluding OtherIncome and Exceptional Items).yyEBIDTA Margins declined to 13.47% ascompared to 16.02% in FY2016.yyPAT decreased to Rs.(2,035) mn fromRs.(52) mn in FY2016.Opportunities & ConcernsFunding:Infrastructure space in India is witnessing alot of interest from international investors.According to the Department of IndustrialPolicy and Promotion (DIPP)Foreign DirectInvestment (FDI) received in ConstructionDevelopment sector (townships, housing,built up infrastructure and constructiondevelopment projects) from April 2000 toMarch 2017 stood at US 24.3 billion. Indiawitnessed 33 deals in FY 2016-17 involvingUS 3.49 billion as against US 2.98 billionraised across 31 deals in FY 2015-16, withthe majority of deals led by the power,roads and renewable sectors. In the pasttwo and a half years the Road Transport& Highways Ministry has invested aroundRs. 3.17 trillion (US 47.7 billion), while theShipping Ministry has invested around Rs.80,000 crores (US 12.0 billion) for buildingworld class highways and shippinginfrastructure in the country. Prior to thegeneral elections in 2019 it is expectedthat the Government of India will investheavily in the infrastructure sector, mainlyhighways, renewable energy and urbantransport. The first overseas issue of MasalaBond was launched at the London StockExchange in May 2017 by The NationalHighways Authority of India (NHAI) withaim of raising capital for funding theinfrastructure projects in India, attractingbids worth over Rs 3,000 crore (US 465million).Government Policies:Land Acquisition Bill: Until 90% of the landis in possession for the EPC (engineering,procurement and construction) projects,the Government has decided that noprojects should be awarded. This initiativewill increase the efficiency of the projectexecution and will improve the ability ofthe contractor to complete the project ontime.Traffic volume risk:Reduction in traffic volumes on roads forvarious unforeseen reasons can affectthe profitability of the Company. As theCompany is executing projects on roadsthat are in high growth regions or with highexisting traffic this seems highly unlikelyRegulatory risk:As the company has significant exposureto the BOT sector.Aany changes in termsof administrative approvals, state policies,arbitrations and fiscal regulations canaffect the operations of the Company.Financing/Leverage risk:The Central Bank continues to takemeasures to soften the interest rates andenhance liquidity. It has also been pushingANNUAL REPORT 2016-179

the banks to pass on the benefit of lowerinterest rates to the customers.An inabilityto repay debts can reduce the profitabilityof the Company.Execution risk:If the Company is not able to executeprojects on time it would impact thefinancials and reputation of the company.External Macro Conditions:The Infrastructure industry, like any othersector, is exposed and vulnerable to therisk of any adverse changes in the overallmacroeconomic situation. The Companymay be affected in case of prolongedrecessionary conditions leading to aslowdown in economic growth.OutlookIn order to revive the investment cycle,boost tax revenues through wideningof the tax base, strengthen indigenousmanufacturingandbringaboutinfrastructure development in rural andurban areas, the Government is committedto introduce structural reforms. By inductinglarge parts of the informal economy intothe formal system, implementation of GSTis expected to have far reaching effectsand it will ultimately lead to increased taxrevenues. On the back of structural reformsand supportive monetary policy, thedomestic economy is expected to steadilyimprove in the current year. Transportation,augmentation of water resources, power,affordable housing and smart cities aresome of the areas where the Government10has reiterated its emphasis on infrastructurebuild-out.Risk ManagementThe Company identifies that evaluationand effective management of their risksis crucial for keeping its performancesteady and delivering adequate valueto its shareholders. The Company keepsassessing risks at regular intervals and takesmeasures to mitigate the same.Internal Controls :The Company has sufficient andcommensurate internal control systems tomatch the size and the sector it is in. TheCompany has well-defined and clearly laidout policies, processes and systems. Theseare strictly and regularly monitored by thetop management and any digression ordiscrepancy is immediately flagged off andcorrected. All requisite regulations, rules andlaws of the land are strictly followed. TheCompany has a sound system for financialreporting and well-defined managementreporting systems. These are supported byManagement Information System (MIS) thatregularly checks, monitors and controls alloperational expenditure against budgetedallocations. The Company also has a regularinternal audit process that is monitored andreviewed by the Audit Committee.Human Resources :The Company believes that satisfied,highly-motivated and loyal employees arethe base of any competitive and growingorganization. Therefore, it strives to buildSUPREME INFRASTRUCTURE INDIA LIMITEDa highly skilled and qualified workforce,supported by a safe and healthy workatmosphere. The Company has built a workculture based on sincerity, hard work anda pursuit for perfection. It holds regulartraining sessions to upgrade the skills andthe knowledge base of its employees.Moreover, the company ensures thatit recognizes and rewards exceptionalperformance by its employees’ time andagain. As on 31st March 2017, the Companyhad over 785 employees.Cautionary Statement:This document contains statements aboutexpected future events, financial andoperating results of Supreme InfrastructureIndia Limited, which are forward-looking.By their nature, forward looking statementsrequire the Company to make assumptionsand are subject to inherent risks anduncertainties. There is significant risk thatthe assumptions, predictions and otherforward-looking statements will not proveto be accurate. Readers are cautionednot to place undue reliance on forwardlooking statements as a number of factorscould cause assumptions, actual futureresults and events to differ materiallyfrom those expressed in the forwardlooking statements. Accordingly, thisdocument is subject to the disclaimer andqualified in its entirely by the assumptions,qualifications and risk factors referred to inthe management’s discussion and analysisof the Supreme Infrastructure India LimitedAnnual Report, 2016-17.

Our BOT PortfolioPROJECTSTATUSLOCATIONManor Wada erationalPunjabAhmednagar KopergaonOperationalMaharashtraVasai BhiwandiOperationalMaharashtraUnder ConstructionMaharashtraNHAI Taken OverRajasthanAhmednagar Karmala TembhurniUnder ConstructionMaharashtraPanvel IndapurUnder ConstructionMaharashtraNHAI Taken OverMaharashtraKotkapura MuktsarUnder ConstructionPunjabKopergaon Phase 1Under , OrissaBuildingsMandi. Himachal PradeshBuildingsKrishnanagar, West BengalBuildingsTikri, DelhiBuildingsMumbai, MaharashtraBuildingsNavi Mumbai, MaharashtraBuildingsLudhiana, PunjabRoadsBankot, MaharashtraRoads & BridgesRajnoli Mankoli FlyoverThane, MaharashtraRoads & BridgesKalyan Power projectKalyan, MaharashtraPowerPanvel Power ProjectPanvel, MaharashtraPowerMRVC KALWA BridgeMaharashtraRailwaysKolkataWater InfrastructureMaharashtraWater InfrastructureHaji Malang RopewayJaipur Ring RoadSangli ShiroliOur EPC PortfolioPROJECTMahanadi Institute of Coal ManagementIIT Mandi ProjectKrishnanagar IT parkDSIIDC Building ProjectESIC Building ProjectHex CitySouthern Ludhiana BypassBankot Creek BridgeDigha Drainage ProjectCoca-Cola Pipe LineANNUAL REPORT 2016-1711

DIRECTORS’ REPORTToThe Members ofSUPREME INFRASTRUCTURE INDIA LIMITEDYour Directors have pleasure in presenting their 33rd Annual Report and the Audited Statement of Accounts for the year ended31st March, 2017. in Crores1. HIGHLIGHTS/ PERFORMANCE OF THE COMPANYSr.No.123456Income from operationOther incomeTotal IncomeProfit before Interest, Depreciation & TaxLess: Interest/ Finance ChargesDepreciationProfit / (Loss) before Exceptional Item and TaxExceptional ItemLess: Provision for TaxCurrent TaxDeferred TaxTax adjustment for earlier yearsProfit After TaxAdd: Profit at the beginning of the yearProfit available for appropriationAppropriationsBalance carried to Balance Sheet (attributable to equity holders)During the year under review, the Company’s income fromoperations and margins were under stress as compared tothe previous year. Total Income during the year was 1050.12Crores as compared to 1209.70 Crores in the previous year.The Net loss after Tax was 203.50 Crores as compared to 5.24 Crores in the previous year.DIVIDENDIn view of the losses incurred and stressed financial resources,your Directors do not recommend any dividend on EquityShares and Preference Shares for the year under review.Consequently, no amount is transferred to reserves for theyear ended 31st March, 2017.3.TRANSFER OF UNPAID / UNCLAIMED AMOUNTS TOINVESTOR EDUCATION PROECTION FUND (IEPF)During the year under review, the Company has credited 0.87Lakhs to the Investor Education and Protection Fund (IEPF)pursuant to Section 125 of the Companies Act, 2013 readwith the Investor Education and Protection Fund (awarenessand protection of investors) Amendment Rules, 2014. Thecumulative amount transferred to IEPF up to 31st March, 2017is 4.17 Lakhs.12As at31 March )825.38821.44NIL821.44ParticularsOPERATION AND PERFORMANCE REVIEW2.As at31 March 2017supreme infrastructure india limited4.FINANCEDuring the year under review, the Company’s Financials wereunder severe stress on account of several factors like delayin execution of projects, delay in land acquisition in BOTProjects, cost over runs on delayed projects, high interestcost vis-a – vis volume of the Company’s operation, stressedworking capital finance and similar factors peculiar to theinfrastructure sector.S4A SCHEMEIn accordance with the Reserve Bank of India’s JLF Framework,the JLF restructured and rescheduled the outstandingamount of their respective share of facilities. The Companyentered into Master Joint Lender Forum Agreement (JLFAgreement) with majority of the lenders of the Company inMarch 2015. Post implementation of restructuring scheme ofMarch 2015, the JLF reviewed the progress of the Companyand was of the opinion that the Company was not able toachieve the viability milestones/ projected financials asenvisaged under the restructuring scheme due to severalfactors. Therefore, the JLF at their meeting held on December29, 2016 discussed on various resolution options to addressthe liquidity stress on the Company and recommended theScheme for Sustainable Structuring of Stressed Assets (“S4AScheme”) in terms of the Reserve Bank of India (“RBI”) circulardated June 13, 2016 and further circulars issued from time to

statement containing the salient features of the financialstatements of each of the subsidiary and joint venture in theprescribed form AOC-1 is annexed to this annual report.time in this regard, with reference date as December 29, 2016.The S4A Scheme resolution plan’ proposal was submittedto Overseeing Committee (“OC”) formed under the aegis ofRBI guidelines. The S4A Scheme for Company was reviewedand recommended for implementation by OC. The broadhighlights of the S4A Scheme are stated hereunder:a.Out of the total debt of Rs. 2359.04 cr. consideredunder the S4A Scheme, the sustainable debt (Part A) isconsidered at Rs. 1258.34 Cr. being 53.34 % of thetotal debt. Balance debt of Rs. 1100.70 Cr. being 46.66% of the total debt is considered as unsustainabledebt (Part B).Pursuant to Section 136 of the Companies Act, 2013 thefinancial statements of the subsidiaries are kept for inspectionby the shareholders at the Registered Office of the Company.The said financial statements of the subsidiaries are alsoavailable on the website of the Company www.supremeinfra.com under the Investors Section.7.DETAILS OF SUBSIDIARY COMPANIES, JOINT VENTURESAND ASSOCIATES COMPANIESb.Out of the present holding of the promoters, 45,01,513(Forty Five Lakhs One Thousand Five Hundred & Thirteen)Equity Shares constituting 17.52% of the existing paidup equity share capital to be transferred to lenders byinvocation of existing pledged shares/ sale of promotershares.As on 31st March, 2017, the Company had FourteenSubsidiaries (Direct & Indirect) of which thirteen areincorporated and based in India & one Overseas. TheCompany also had Two Associate Companies as on 31stMarch, 2017. Some Joint Venture Projects have become nonoperative on account of the completion of the projects.c.The balance portion of Prat B debt of Rs. 1096.20 Cr. wouldbe converted into Optionally Convertible Debentures(OCDs) for the tenor of 14 years 6 Months. The lenderswill have the right to convert OCDs into equity shares ofthe Company in case of any event of default as specifiedin the S4A Agreements.d.Repayment of OCDs to be made in seven equalinstalments, commencing at the end of 9th financial yearto 15th financial year i.e. FY 2026 onwards from the dateof issuance.The Company ha

State Bank of India State Bank of Patiala Union Bank of India Punjab National Bank Bank of India Central Bank of India Canara Bank Syndicate Bank ICICI Bank Ltd. Axis Bank Ltd. SREI Infrastructure Finance Ltd. REGISTERED OFFICE Supreme House, Plot No. 94/C Pratap Gad, Opp. I.I.T Main Ga

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