Draft Prospectus - India Infoline Finance Limited

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TABLE OF CONTENTS SECTION I: GENERAL .................................................................................................................................................... I DEFINITIONS AND ABBREVIATIONS ........................................................................................................................ I PRESENTATION OF FINANCIAL, INDUSTRY AND OTHER INFORMATION...................................................... VII FORWARD LOOKING STATEMENTS ..................................................................................................................... VIII SECTION II: RISK FACTORS ....................................................................................................................................... X SECTION III: INTRODUCTION .................................................................................................................................... 1 GENERAL INFORMATION .......................................................................................................................................... 1 SUMMARY OF BUSINESS, STRENGTHS AND STRATEGIES ................................................................................... 7 SUMMARY FINANCIAL INFORMATION.................................................................................................................. 12 THE ISSUE ................................................................................................................................................................. 18 CAPITAL STRUCTURE .............................................................................................................................................. 20 OBJECTS OF THE ISSUE .......................................................................................................................................... 33 STATEMENT OF TAX BENEFITS ............................................................................................................................. 34 SECTION IV: ABOUT OUR COMPANY .................................................................................................................... 38 INDUSTRY .................................................................................................................................................................. 38 OUR BUSINESS .......................................................................................................................................................... 47 HISTORY AND CERTAIN OTHER CORPORATE MATTERS ................................................................................... 66 OUR MANAGEMENT ................................................................................................................................................. 68 OUR PROMOTER ...................................................................................................................................................... 77 OUR SUBSIDIARIES .................................................................................................................................................. 86 SECTION V: FINANCIAL INFORMATION ............................................................................................................... 88 FINANCIAL STATEMENTS ........................................................................................................................................ 88 MATERIAL DEVELOPMENTS ................................................................................................................................. 180 FINANCIAL INDEBTEDNESS ................................................................................................................................. 181 SECTION VI – ISSUE RELATED INFORMATION ................................................................................................ 188 ISSUE STRUCTURE ................................................................................................................................................. 188 TERMS OF THE ISSUE ............................................................................................................................................ 199 ISSUE PROCEDURE ................................................................................................................................................ 202 SECTION VII: LEGAL AND OTHER INFORMATION ......................................................................................... 214 OUTSTANDING LITIGATIONS ............................................................................................................................... 214 OTHER REGULATORY AND STATUTORY DISCLOSURES .................................................................................. 257 KEY REGULATIONS AND POLICIES ..................................................................................................................... 262 SECTION VIII: SUMMARY OF MAIN PROVISIONS OF THE ARTICLES OF ASSOCIATION ................... 268 SECTION IX: OTHER INFORMATION ................................................................................................................... 273 MATERIAL CONTRACTS AND DOCUMENTS FOR INSPECTION ....................................................................... 273 DECLARATION ........................................................................................................................................................ 275
India Infoline Investment Services Limited SECTION I: GENERAL DEFINITIONS AND ABBREVIATIONS Unless the context otherwise requires the following terms shall have the following meanings ascribed thereto in this Draft Prospectus. Reference to any statutes, regulations and policies shall include amendments thereto, from time to time. All references to “IIISL”, “Issuer”, “we”, and “us”, “our” and “our Company” are to India Infoline Investment Services Limited and its Subsidiaries, unless the context requires otherwise. In this Draft Prospectus, all references to “IIFL Group” are to India Infoline Limited and its subsidiaries. Company Related Terms Term “IIISL”, “Issuer”, “the Company” and “our Company” Act / Companies Act AOA / Articles / Articles of Association Board / Board of Directors DIN Description India Infoline Investment Services Limited, a company incorporated under the Companies Act, 1956 and registered as a Non-Banking Financial Company with the Reserve Bank of India under Section 45-IA of the Reserve Bank of India Act, 1934, and having its Registered Office at IIFL House, Sun Infotech Park, Road No. 16V, Plot No.B-23, Thane Industrial Area, Wagle Estate, Thane – 400 604 The Companies Act, 1956, as amended from time to time Articles of Association of our Company The Board of Directors of our Company and includes any Committee thereof Director Identification Number ESOP / ESOS Company's Employee Stock Option Scheme, 2007 Equity Shares IIFL Group Loan Assets MIS Memorandum / MOA / Memorandum of Association Net Loan Assets NAV NBFC NBFC-ND-SI NPA Promoter / IIFL ` / Rs./ INR / Rupees Reformatted Consolidated Financial Statements Equity shares of face value of ` 10 each of our Company India Infoline Limited and its subsidiaries Assets under financing activities Management Information System of our Company Memorandum of Association of our Company Assets under financing activities net of Provision for non-performing assets Net Asset Value Non-Banking Financial Company as defined under Section 45-IA of the RBI Act, 1934 Non-Deposit Accepting or Holding Systemically Important NBFC Non Performing Asset India Infoline Limited Indian Rupees The statement of reformatted consolidated assets and liabilities as at March 31, 2008, March 31, 2009, March 31, 2010 and as at March 31, 2011 and the related statement of reformatted consolidated profit and loss account and the related statement of reformatted consolidated cash flow for the Financial Years ending March 31, 2008, March 31, 2009, March 31, 2010 and March 31, 2011 and the schedules and notes thereto, extracted from the audited consolidated balance sheet of our Company, its Subsidiaries and Associates as at March 31, 2008, March 31, 2009, March 31, 2010 and as at March 31, 2011 and the related consolidated profit and loss account and consolidated cash flow statement for the Financial Years ending March 31, 2008, March 31, 2009, March 31, 2010 and March 31, 2011 as examined by our Company’s Statutory Auditors, Sharp & Tannan Associates Reformatted The statement of reformatted unconsolidated assets and liabilities of our Company, i
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