MIRA INFORM REPORT

Report Date :

2^ND May, 2006

IDENTIFICATION DETAILS

Name :	DAIMLERCHRYSLER INDIA PRIVATE LIMITED
Formerly Name:	MERCEDES BENZ INDIA LIMITED
Registered Office :	Sector 15/A, Chikhali Village, Pimpri, Pune – 411019, Maharashtra, India
Country :	India
Financials (as on) :	31.03.2005
Date of Incorporation :	22^nd November, 1994
CIN No.:	U34102MH1994PTC083160
Com. Reg. No.:	11-83160
TAN No.: (Tax Deduction & Collection Account No.)	PNED03140E/PNED03142G
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturing of Parts of Motor Car

RATING & COMMENTS

MIRA’s Rating :

A

RATING		STATUS	PROPOSED CREDIT LINE
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large

Maximum Credit Limit :	USD 13500000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is an Indo-German Joint Venture, promoted by strong promoters. It is gathered that the company has been facing marketing problems and as gathered, incurred substantial losses. The company is expected to face difficulties in marketing their high-priced products in a current difficult market. Subject can be considered normal for business dealings at usual trade terms and conditions.

LOCATIONS

Registered Office/Factory :	Sector 15/A, Chikhali Village, Pimpri, Pune – 411019, Maharashtra, India
Tel. No.:	91-20-27470810/27505000/27505806/27473719
Fax No.:	91-20-27473597/27505953 / 27477257/27472885
E-Mail :	raghunandan.pendse@daimlerchrysler.com
Website :	http://www.mercedes.benz.co.in
Factory 1 :	Shop No. 4 & 5, Pune Road, Pune

DIRECTORS

Name :	Mr. Helmut Walter Petri
Designation :	Director
Address :	Grafenau, Wacholdesweg, 14, Germany
Date of Birth/Age :	23/07/1940
Date of Appointment :	24/06/1999
Name :	Mr. Michael Hans Huber
Designation :	Managing Director
Address :	Bungalow No. 45, South Main Road, Koregaon Park, Pune – 411001, Maharashtra
Date of Birth/Age :	21/40/1959
Date of Appointment :	1/04/2002
Name :	Mr. Rolf Albert Loffler
Designation :	Director
Address :	Bungalow No. 5, Telco Sr. Officer, Co-operative Housing Society, Pimpri, Pune – 411018, Maharashtra
Date of Birth/Age :	1/10/1943
Date of Appointment :	14/06/2000
Name :	Mr. Joachim Gerhard Schmidt
Designation :	Director
Address :	Angelstrable 15, 75392, Deckenpfronn, Germany
Name :	Mr. Martin Josef Zimmemann
Designation :	Director
Address :	Wiesenweg 10, 73773, Aichhwald, Germany
Date of Birth/Age :	24/01/1963
Date of Appointment :	9/07/2001

Name :
Designation :	Mr. Olaf Klaus Koch
Address :	Director
Date of Birth/Age :	Jagstatrasse 4, 74379, Ingersheim, Germany
Qualification :	1/06/1970
Date of Appointment :	13/02/2003
Name :	Mr. Eberhard Gothlob Haller
Designation :	Director
Address :	Daimlerchrysler AG, Producktionsplianng, Mercedes Benz Pkw B 662, 71059, Sindelfingesn, Germany
Date of Birth/Age :	1/01/1951
Date of Appointment :	21/03/2001
Name :	Mr. Eckart Erwin Mayer
Designation :	Director
Address :	Lindpaintnerstr 31, 70195, Stuttgart, Germany
Date of Appointment :	9/02/2002
Name :	Mr. Till Werner Conrad
Designation :	Director
Address :	Lerchenstrabe 73, 73730, Esslingen, Germany
Date of Birth/Age :	23/01/1969
Date of Appointment :	27/06/2003
Name :	Mr. Martin Helmut Strassburg
Designation :	Director
Address :	Brattacherweg 13, 73730, Esslingen, Germany
Date of Birth/Age :	27/12/1959
Date of Appointment :	27/06/2003
Name :	Mr. Peter Otto Wesp
Designation :	Director
Address :	Rosensteinstrasse 10, 73547, Lorch, Germany
Date of Birth/Age :	17/01/1960
Date of Appointment :	24/06/1999
Name :	Mr. Raghunandan Pendse Balkrishna
Designation :	Director
Address :	N-1, Chaitanya 68613, Bibwewadi, Pune – 411037, Maharashtra
Date of Birth/Age :	14/12/1956
Date of Appointment :	28/06/1996
Name :	Mr. Hans Heinrich Weigarten
Designation :	Chairman
Name :	Mr. Wolfgang Pipperger
Designation :	Alternate Director of Dr. Joachim Schmidt
Name :	Mr. Olaf Koch
Designation :	Director
Name :	Dr. Klaus Peter Arnold
Designation :	Head Corporate Planning
Name :	Mr. Piyush Arora
Designation :	Head Procurement Logistic
Name :	Mr. Ravi Gogia
Designation :	Head Procurement Logistic
Name :	Mr. Suhas Kadlaskar
Designation :	Head Corporate Affairs & Finance
Name :	Mr. Augustus Mallier
Designation :	Head HR and Admin
Name :	Mr. Sanjiv Sahajwala
Designation :	Head Sales & Marketing
Name :	Mr. R B Pendse
Designation :	Company Sectary

MAJOR SHAREHOLDERS

Names of Shareholders	No. of Shares
Daimlerchrysler AG	599999999
Olaf Klaus Koch	1
Total	600000000

BUSINESS DETAILS

Line of Business :	Manufacturing of Parts of Motor Car
Products :	Motor Car – 8703

PRODUCTION STATUS

Particulars	Unit	Installed Capacity	Actual Production
Motor Cars Parts	Nos.	9000	1812

GENERAL INFORMATION

No. of Employees :	332
Bankers :	v ABN Amro Bank v Citibank N. A. v Deutsche Bank AG v Standard Chartered Grindlays Banks
Facilities :	--

Banking Relations :	Good
Auditors :	Bharat S. Raut and Company Chartered Accountants
Address:	KPMG House, Kamala Mills Compound, 448, Senapati Bapat Marg, Lower Parel, Mumbai – 400013, Maharashtra
Tel. No.:	91-22-24913030/24913131/24988368
Fax No.:	91-22-24913132
Associates/Subsidiaries :	v LMC Lean Manufacturing Consulting v Daimler Chrysler Project Consult, GmbH v Mercedes-Benz Accessories GmbH v Daimlerchrysler South East Asia Private Limited v Debis Assekuranz Makler GmbH v Daimler Chrysler Research Centre India Private Limited v Daimler Chrysler Services Assekuranz Makler GmbH v T Systems ITS GmbH (Formerly known as Debit Systems ITS GmbH) v T Systems ITS Singapore Pte Limited (formerly known as Debit ITC Singapore Pte Limited) v Daimler Chrysler Korea Limited v Mercedes Amg GmbH v Daimler Chrysler Services AG v Daimler Chrysler Australia/Pacific Private Limited v Daimler Chrysler Corporation v Daimler Chrysler Malaysia v Egyptian German Automotive Company v Daimler Chrysler South Africa
Parent Company	Daimler Chrysler AG, 70546, Stuttgart, Germany

CAPITAL STRUCTURE

Authorised Capital :

No. of Shares	Type	Value	Amount
600000000	Equity Shares	Rs.10/- each	Rs. 6000.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
600000000	Equity Shares	Rs.10/- each	Rs. 6000.000 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2005	31.03.2004	31.03.2003
SHAREHOLDERS FUNDS
1] Share Capital		6000.000	6000.000	6000.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		(2608.306)	(2877.545)	(3140.752)
NETWORTH		3391.694	3122.455	2859.248
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		42.820	63.523	0.000
TOTAL BORROWING		42.820	63.523	0.000
DEFERRED TAX LIABILITIES		0.000	28.566	53.475
TOTAL		3434.514	3214.544	2912.723
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		404.491	442.429	532.164
Capital work-in-progress		28.092	13.551	57.828
INVESTMENT		1921.100	1602.561	1416.777
DEFERREX TAX ASSETS		8.123	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	808.755	741.964	535.498
	Sundry Debtors	951.233	707.361	582.149
	Cash & Bank Balances	246.313	187.290	132.604
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	754.457	573.087	411.230
Total Current Assets		2760.758	2209.702	1661.481
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	826.487	533.803	439.129
	Provisions	861.563	519.896	316.398
Total Current Liabilities		1688.050	1053.699	755.527
Net Current Assets		1072.708	1156.003	905.954
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		3434.514	3214.544	2912.723

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2005	31.03.2004	31.03.2003
Sales Turnover [including other income]	4791.289	4228.199	2888.174
Profit/(Loss) Before Tax	534.549	383.298	126.920
Provision for Taxation	265.310	120.091	80.648
Profit/(Loss) After Tax	269.239	263.207	46.272
Export Value	34.011	24.714	80.153
Import Value	1715.269	1470.886	961.772
Total Expenditure	4256.740	3844.901	2761.254

KEY RATIOS

PARTICULARS		31.03.2005	31.03.2004	31.03.2003
PAT / Total Income	(%)	5.61	6.22	1.60
Net Profit Margin (PBT/Sales)	(%)	11.15	9.06	4.39
Return on Total Assets (PBT/Total Assets}	(%)	16.88	14.45	5.78
Return on Investment (ROI) (PBT/Networth)		0.15	0.12	0.04
Debt Equity Ratio (Total Liability/Networth)		0.51	0.12	0.04
Current Ratio (Current Asset/Current Liability)		1.63	2.09	2.19

LOCAL AGENCY FURTHER INFORMATION

History:

Daimler Chrysler India Private Limited (formerly known as Mercedes Benz India Limited) was incorporated on 22^nd November, 1994 a private limited company and became a deemed public limited company on 27^th November, 1995 upon allotment of shares to Tata Engineering Limited (TELCO). Subsequently, Daimler Chrysler AG acquired stake held by TELCO in the company and the company became 100% subsidiary of Daimler Chrysler AG. Subsequent to change in status to a private limited company the company was renamed as Daimler Chrysler India Private Limited. The company has its production facilities in Pune for manufacturing motor vehicles.

In response to merger of Daimler Benz AG and Chrysler Corporation, USA w. e. f. 21^st December, 1998, Government of India, Ministry of Industry, New Delhi has approved change of name from Daimler Benz AG to Daimler Chrysler AG.

Subject was set up as a joint venture between DaimlerChrysler (DCAG) and Tata Engineering for producing and selling Mercedes-Benz passenger cars for the Indian market.

The company is a 100% subsidiary of Daimler Chrysler in India, has been lately renamed as DaimlerChrysler India Private Limited.

It is one of the first auto joint ventures set up in India and has a long-term commitment to the Indian market.

The passenger cars manufactured in its factory under the technical and organisational standards are the same as those prevailing in all DaimlerChrysler plants in Germany.

Subject began operations in the country as Mercedez-Benz India Limited in 1994 in a joint venture with the Tata Group company Telco. It broke off with Telco in November 2001 and changed its name to Daimlerchrylser India Private Limited to align itself with DaimlerChrysler’s worldwide corporate philosophy.

Operation:

During the year under review, total revenue increased to Rs. 4791.000 Millions from Rs. 4228.000 registered in the previous year. The company had made a net profit of Rs. 269.000 Millions after tax as against a net profit of Rs. 263.000 Millions in the previous year.

The company capital expenditure was Rs. 113.000 Millions as against Rs. 122.000 Millions in the previous year.

Divided

The Company had made a profit of Rs. 269.000 Millions after tax. However owing to the accumulated losses, the company is not in a position to declare any dividend to its shareholder.

Business Overview

The company continued its growth achieving a sales volume of 1872 cars a growth of 8% in the current year as against 1737 cars in previous year.

After the successful launch E 270 CDI in May 2004 replacing E 220 CDI the E – Class continued to receive a positive responses from the market. At the same time the acceptance of E 240 & E 200K continued as expected. The S 350L also continued its well acceptance in the market.

The market introduction of the E 280 CDI and the E 280 had been planed around January 2006 as a part of strategy of enrichment of product offering

In the C - Class the face lift models were launched in the month pf July 2004. The response of the face – lift models had been encouraging

Fixed Assets:

v Technical Know – how

v Plant & Machinery

v Leased Cars

v Vehicles

v Furniture & Fixture

v Office Appliances

v Building Sheds

As per website Details:

About Us:

With the aim to serve their customers in India with the latest products and technological excellence from the Mercedes-Benz stable, DaimlerChrysler entered the Indian market and set up Mercedes-Benz India Ltd. way back in 1994. In line with DaimlerChrysler's worldwide corporate philosophy, Mercedes-Benz India Limited was been rechristened DaimlerChrysler India Private Ltd.

DaimlerChrysler India is a 100% subsidiary of DaimlerChrysler group and one of the first auto joint ventures set up in India. It has a long-term commitment to the Indian market and has full support of its parent company for its future plans in India.

DaimlerChrysler is aware of the future potential of the Indian automobile market and the tremendous economic power this country can generate. The company is targeting 25% of the total turnover from Asia and thus DaimlerChrysler India intends to play a definite role in the strategic forays in this part of the globe.

Wide choice of Mercedes-Benz products

In the last few years, DaimlerChrysler India has extended the product range to the maximum possible offering their exclusive customers a variety of Mercedes-Benz products. And the company has been a main contributor to the expansion of the luxury vehicle segment in the Indian market. In January 2000, the company introduced Mercedes-Benz E-Class(W 210) 'Top of the line' E 240 Petrol and E 220 CDI Diesel versions with a number of unique additional features.

The company expanded the product range in September 2000 with the Mercedes-Benz S-Class, the S-320 L Petrol Automatic, which is the 'Mercedes-Benz among the Mercedes-Benzes'. The product offensive continued with the launch of the Mercedes-Benz C-Class in April 2001, which is a 'Technological Trailblazer' in its market segment, with both C-180 Petrol and C-200 CDI Diesel versions. DaimlerChrysler India launched the Mercedes E-Class(W211) E-240 Petrol version which 'points the way to the automotive future' in October 2002. In March 2003 the company introduced both the Mercedes-Benz S-Class S-350 L and the new Mercedes E-Class(W211) in India, successfully.

In addition to the company's own manufactured product range the Mercedes-Benz S-Class, E-Class and C-Class, DaimlerChrysler India has further expanded the product range to make variety of imported vehicles like Mercedes-Benz SL-Class, M-Class, SLK, etc. available to discerning Mercedes customers, thus living up to the expectations of their exclusive customers. 'Wherever there is an inclination to own a Mercedes vehicle, DaimlerChrysler India will provide a way!

The market trend in India in the last couple of years reflects a clear shift in customer preference towards the latest technology, safety, comfort and environmental compatibility. Keeping this in mind, DaimlerChrysler India has been following the product extension strategy with total commitment and offering the latest and most sophisticated technology.

Mercedes-Benz Pre Owned Vehicle

Promotion of Pre Owned vehicles as an entry level option for first-time buyers of a Mercedes-Benz provides a win-win situation for their valuable customers, who get a luxury vehicle at an affordable price, for their dealers, by generating more business, and for the company, by adding more volume to sales. This prevents their vehicles from entering the grey second-hand market, where there would be no checks on the condition of the vehicle, before it is sold. DaimlerChrysler India has extended substantial support to its dealer network by providing business guidelines as well as training in fair financial evaluation and technical reconditioning of the vehicles offered for trade-in.

Mercedes-Benz Pre Owned vehicles not only undergo a stringent technical check-up, but also a thorough, standardised reconditioning procedure which ensures that their customers get high-quality vehicles in top condition. To make the customer's buying decision even more worry-free, all Pre Owned vehicles come with a six-month, unlimited mileage warranty.

Mercedes-Benz Collection

The identification of Mercedes-Benz lifestyle does not stop with the vehicle and this is reflected in the immense variety of exciting Mercedes-Benz accessories that is now available at their exclusive Mercedes-Benz showrooms. From an attractive keychain to a perfectly crafted vintage vehicle model, from an exquisitely designed silk scarf to a genuine leather wallet - these accessories immensely appeal to their Mercedes customers'. Their customers can view their interesting Mercedes-Benz Collection on their website, select any item they desire and send their request online to the preferred Mercedes-Benz dealer.

Millennium Motors Pvt. Ltd

Showroom

Safire Park Galleria,
4, Pune - Mumbai Road,Wakdewadi,

Pune - 411005

Phone: 020-56085750

Fax: 020-56014008

Email: m3bsr@ddmmpl.com

Timings: 10.00 A.M - 7.00 P.M

Workshop

Sr. NO. 93,Gems Compound,
Off Pune - Mumbai Road, Dapodi,

Pune - 411012

Phone: 020-56152050-61

Fax: 020-27148250

24 Hr. Service: (0) 9823198008

Email: m3bws@ddmmpl.com

Timings: 10.00 A.M - 7.00 P.M

Press Releases

Date	Title
07/10/2005	DaimlerChrysler announces traffic-safety program for school children.
07/08/2005	DaimlerChrysler test-drives Biodiesel powered Mercedes-Benz cars   across frozen desert of Leh and the Himalayas.
15/07/2005	DaimlerChrysler announces further milestones of Jatropha-Biodiesel   Project
04/07/2005	New Mercedes-Benz C-Class to extend its market leadership in India   with an even more youthful and dynamic character
14/03/2005	Pune Golfers triumph at the MercedesTrophy 2005 finals
11/03/2005	MercedesTrophy 2005 heads for a nail biting final
11/03/2005	Mercedes-Benz S-Class, E-Class and C-Class cars to cost less in India
11/03/2005	DaimlerChrysler announces “Star Extend”- a new retail finance initiative   developed in conjunction with ICICI Bank.
12/01/2005	MercedesTrophy 2005: Swinging Times ahead

DaimlerChrysler announces traffic-safety program for school children.

Approx. 1000 children across 3 schools completed Mercedes-Benz Mobile Kids program in Pune.

October 7 2005. Pune: It was an event unlike most other corporate occasions. A sunny morning, excited chatter of almost 100 children, cool breeze blowing amongst the greenery at Chittaranjan Vatika (Traffic Park at Model Colony, Pune) and a gathering of prominent industry representatives, educationists and the media. The occasion: culmination of first phase of an innovative traffic-safety program “Mercedes-Benz Mobile Kids” by DaimlerChrysler India.

On stage was the CEO and Managing Director of DaimlerChrysler India Mr. Hans-Michael Huber & Mr. Suhas Kadlaskar Director of Corporate Affairs, accompanied by partner school representatives Mr. Suryakanth Pathak Chairman of Deccan Education Society, and Dr. Vidya Yeravdekar Joint Director of Symbiosis Society. The theme and the occasion clearly reflected the corporate-social partnerships that DaimlerChrysler focuses upon.

The “Mercedes-Benz Mobile Kids” is a road-safety program that teaches children the basics of Road safety in a fun and entertaining manner. This has been a much-acclaimed program and a runaway success across Europe and Asia. The highlight of the Mercedes-Benz Mobile Kids program for India is a special picture-book “Smarty’s World” created for classroom training. School-children have further demonstrated their vision about road safety through Paintings, Skits, Plays and Quiz competitions.

The first phase of this program culminated today at the traffic Park through an inter-school event wherein school students exchange ideas and inputs. There was also a special inter-school contest wherein the winner was awarded “A Mercedes-Benz experience” for a day- complete with a visit (along with parents) to the DaimlerChrysler plant in Pune in a chauffer-driven Mercedes-Benz.

As pilot phase, DaimlerChrysler India executed this program over the last two months across three schools in Pune (approx 1000 children): Navin Marathi Shala, Deccan Education Society (Tilak Rd) & Symbiosis School. The company plans to include other schools during phase-II of this implementation and has plans to also extend this program across other cities in India.

Mr. Hans-Michael Huber commented “The Vision of Accident-Free Driving has been an area of great emphasis for us-globally and locally. Mercedes-Benz Mobile Kids program is an important step in that direction and they can empower the present & future road-users by such initiatives.”

“They targeted std-IV children for start of the program especially because children at this age-group (9-10 years) begin their independent interactions with road and traffic: bringing bicycles to school, going unattended to playgrounds, etc. and are in need for road-safety awareness.” added Mr. Suhas Kadlaskar, Director: Corporate Affairs for DaimlerChrysler India.

Press clipping

DaimlerChrysler India's focus to remain on luxury car segment

DAIMLERCHRYSLER India, the Indian subsidiary of the German luxury carmaker, does not have any immediate plans to launch new models from the Chrysler stable. DaimlerChrysler is also said to have stalled the development of the China Concept Vehicle, a passenger car that was earlier on the drawing board and was being considered for a possible launch in emerging car markets like China and India.

Speaking to Business Line at the 7th Auto Expo, Mr Helmut Petri, Executive Vice-President, Mercedes Car Group, DaimlerChrysler AG, said that the Indian subsidiary is expected to continue to be a niche player in the domestic passenger car industry and that it will retain its focus on high-end luxury vehicles. The German company is unlikely to continue developing the China Concept Vehicle, since the market conditions in countries like India and China have changed with local manufacturers entering the market, he said.

"We see India emerging as a strategic market for DaimlerChrysler's luxury car sales during the next 10 to 15 years. Currently, China is the most important market in the Asia Pacific region. But, the growth in China may not be stable over the next few years. Though India is small in terms of size, the market here is expected to be more stable," Mr Petri said. He added that the company had made very optimistic sales projections when it first entered the Indian market. But the company's sales targets and expectations from the Indian market are more realistic now.

Speaking about the effect of the rising euro on the company's costs and performance, Mr Suhas Kadlaskar, Director (Finance), DaimlerChrysler India, said that the company was hit by a near 35 per cent increase in input costs due to the rising euro, but the recent cut in customs duties should help offset a part of the cost increase.

The new parts hub and centre in Singapore, set up recently, which supplies components for the company's operations in Asia, enables the Indian subsidiary to get its requirements of parts within 10 days of ordering. This reduces the time lag and the shipping costs for receiving the components at the company's plant near Pune.

Sales up by 31%

DaimlerChrysler today said its sales in India rose by 31 per cent in 2003, powered by a surge in volumes of its `E' class model.

The company sold 1,581 vehicles in 2003, compared with 1,208 cars it sold in 2002. "All our models recorded a growth in 2003," said Mr Hans-Michael Huber, Managing Director and CEO of DaimlerChrysler India Private Limited.

The `S' Class saloon sold 84 units, up from 72 in 2002, while sales of the `E' Class stood at 667 units over 392 in the previous year. `C' Class sold 746 units from 620 units a year ago. Sales of imported completely built units, however, dropped to 84 units from 124 units.

"We had not expected this kind of a growth for the year," Mr Huber said here at a press conference. However, he said that the company expects a growth of only 10-12 per cent in the current calendar year.

Mr. Huber said the appreciation of euro against the rupee has hit the profitability of DaimlerChrysler India. The company made a profit of Rs 340 millions in 2003, down from Rs. 380 millions a year ago.

Year	Milestone
November 1994	Mercedes-Benz India is set up as a joint venture between Daimler-Benz and Telco for production and sales of Mercedes-Benz passenger vehicles.
March 1995	Mercedes-Benz E -Class (W 124) launched in India being one of the most successful models worldwide.
September 1996	Mercedes-Benz India commences setting up its dealer network in India.
March 1997	First Mercedes-Benz Authorised Dealership is inaugurated.
August 1997	First Mercedes-Benz Authorised Service Station is inaugurated.
January 1998	Mercedes-Benz E -Class (W 210) with twin eyes launched with E 200 and E 230 Petrol versions and E 250 Diesel version.
June 1999	Mercedes-Benz India Ltd. is awarded Top Exporter Award from Pune by Joint Director of Foreign Trade, Pune and the Maharashtra Chamber of Commerce and Industry for the year 1997-98.
July 1999	Mercedes-Benz India is awarded Regional Highest Exporters' Trophy in Motor Vehicle Category by Engineering Export Promotion Council for the year 1997-98.
January 2000	Mercedes-Benz E -Class (W 210) Top-of–the–line E 240 Petrol version and the new E 220 CDI Diesel version launched in India.
May 2000	Mercedes-Benz India bags the Quality Award for the Year 1999 for 'Best Mercedes-Benz Production Plant' outside Germany for the 2nd consecutive year.
September 2000	Mercedes-Benz S -Class - S320 L automatic, the 'Mercedes-Benz among the Mercedes-Benzes' launched.
December 2000	For the calendar year 2000, the company makes a turnaround with net profit of Rs. 20 crores.
February 2001	Mercedes-Benz India successfully implements the 'Mercedes-Benz Production System'.
April 2001	Mercedes-Benz C -Class – C 180 Petrol version and C 200 CDI Diesel version, 'Technological trailblazers' in its segment launched in India.
June 2001	Mercedes-Benz India bags the Quality Award for 'Best Mercedes-Benz Production Plant' Outside Germany for the 3rd consecutive year.
August 2001	Mercedes-Benz India announces its CBU Programme to serve discerning customers in niche segment.
September 2001	Mercedes-Benz India becomes a100% subsidiary of DaimlerChrysler .
November 2001	The name of the company is rechristened DaimlerChrysler India Private Limited.
December 2001	For the calendar year 2001, the company posts net profit of Rs. 40 crores.
January 2002	DaimlerChrysler India strengthens and expands its dealer network of 14 exclusive Mercedes-Benz Showrooms and 17 Mercedes-Benz Service Workshops across India.
March 2002	DaimlerChrysler launches various imported Mercedes cars e.g. M-Class, CLK, SLK, C-Class Sports Coupe to serve discerning customers in niche segment.
April 2002	DaimlerChrysler India introduces 1-year unique comprehensive "Automotive Mechatronics Programme" aimed at developing specific automotive diagnostic skills for dealer personnel in India.
May 2002	DaimlerChrysler India celebrates the successful 1st anniversary of the Mercedes Benz C-Class in India with over 1000 proud owners of the Mercedes C-Class.
September 2002	DaimlerChrysler India factory is awarded top 5-stars rating for Safety, Health and Environment.
October 2002	The New Mercedes-Benz E-Class - E 240 Petrol version which points the way to the automotive future launched in India.
December 2002	For the calendar year 2002, the company posts net profit of Rs. 39 crores.
March 2003	The new E-Class - E 220 CDI Diesel version launched in India.
March 2003	The new S-Class - S 350 L Petrol version launched in India.
April 2003	The 10000th Mercedes-Benz car rolls off the DaimlerChrylser production plant in India.
June 2003	DaimlerChrysler India strengthens and expands its dealer network of 15 Showrooms; 18 Service Workshops and 5 additional Service Centres across India.
July 2003	The new C-Class Kompressor with the new four cylinder super-charged petrol engine for superb performance introduced in India.
August 2003	DaimlerChrysler launches Bio-diesel project in India in collaboration with Council for Scientific and Industrial Research (CSIR), India and Hohenheim University, Germany.
December 2003	For the calendar year 2003, the company posts net profit of Rs. 34 crores.
January 2004	The company showcases its ‘Technological and Innovational Leadership Worldwide’ at the 7th Auto Expo, New Delhi.
	DaimlerChrysler launches the new “Maybach”-‘A New Standard in the High-end Luxury Class’ at the 7th Auto Expo, New Delhi.
	The new Mercedes-Benz C-220 CDI –“Technological Trailblazer in its market segment” launched at the 7th Auto Expo, New Delhi.
	The new Mercedes SL-Class wins the coveted ‘Most Technologically Advanced Car of the Year’ award and the ‘Best Designed Car of the Year’ awards from AutoCar Magazine and CNBC TV.
February 2004	The new Mercedes E-Class, E-200 Kompressor that ‘Points the way to the Automotive Future’ introduced in India.
March 2004	Mercedes-Benz India bags the Quality Award for the fourth time for 'Best Mercedes-Benz Production Plant' outside Germany and within the Group.
May 2004	Mercedes-Benz C-Class is successfully tested with bio-diesel fuel across India as part of the project with CSIR and Hohenheim University.
	The new Mercedes-Benz E-Class, E 270 CDI diesel variant launched in India.
July 2004	The new-look Mercedes-Benz C-Class, ‘Technological Trailblazer in its segment’ introduced in India.
August 2004	DaimlerChrysler India strengthens and expands its dealer network of 15 Mercedes-Benz Showrooms; 18 Mercedes-Benz Service Workshops and 10 additional Mercedes-Benz Service Centres.
October 2004	DaimlerChrysler India receives the prestigious award for outstanding contribution towards the promotion of Indo-German Economic Relations from the Indo-German Chamber of Commerce.

CMT REPORT [Corruption, Money laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.90
UK Pound	1	Rs.81.88
Euro	1	Rs.56.47

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILIRY	1~10	7
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	7
--CREDIT LINES	1~10	7
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		63

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions