Annexure 2: Disclosures in public documents (I) Offering circular dated July 28, 2016 for U.S.$500,000,000 Senior Secured Notes issued by Adani Transmission Limited (A) Risk Factor in relation to the DRI Show Cause Notice There are claims of alleged customs violations against us, which if adversely determined, could have a material adverse effect on our business In 2014, the Directorate of Revenue Intelligence in India (the “DRI”) issued a show cause notice against MEGPTCL. The notice alleges that MEGPTCL, in relation to the procurement of equipment and machinery from outside India, inflated invoices above the actual value of the goods, in violation of the Customs Act, 1962. Notwithstanding certain media allegations regarding relationships between us and Electrogen Infra FZE, a subcontractor for the equipment and machinery that is the subject of the DRI notice, we believe our procurement of the equipment and machinery that is the subject of the DRI notice was conducted on an arm’s length basis in accordance with all applicable laws. This matter is still pending with the DRI. If the DRI were to issue an adverse order against us, we could appeal to the courts, up to the Supreme Court of India. However, we cannot assure you that the DRI or any other regulator or any court will accept our position. The alleged amount of overvaluation represented approximately 13% of our consolidated assets as of March 31, 2016. Any order or judgment against MEGPTCL could result in significant monetary fines and confiscation of equipment and machinery and other adverse consequences, including penalties under Indian law, including without limitation the FEMA. Our management’s time may be diverted in relation to such proceedings, and we may also be required to utilize financial resources for our defense. Any potential violation of any Indian laws and regulations, if adversely determined, could have a material adverse effect on our business, prospects, financial condition, results of operations and reputation. See also “Legal Proceedings—Litigation Relating to Subsidiaries—MEGPTCL”. (B) Risk factor in relation to material related party transactions We have material related party transactions and may continue to do so. We have entered into transactions with other Adani Group Companies in the ordinary course of our business. While we believe that all such transactions (which have included (unsecured) inter-corporate deposits and guarantees given on behalf of our subsidiaries and joint ventures) have been conducted on an arm’s length basis, we might have achieved more favorable terms had such transactions not been entered into with related parties. Furthermore, we may enter into additional related party transactions in the ordinary course of our business in accordance with the provisions of the Common Terms Deed. Such transactions, individually or in the aggregate, could have a material adverse effect on our business, prospects, financial condition and results of operations. See “Management’s Discussion and Analysis of Financial Condition and Results of Operations — Related Party Transactions”. (C) Risk factor in relation to claims against directors and/or other Adani Group Companies or Promoters There are claims made against us, our directors and/or other Adani Group Companies or Promoters from time to time that can result in litigation or regulatory proceedings which could result in liability or harm our reputation. 58