MIRA INFORM REPORT

Report Date :

4^TH May, 2006

IDENTIFICATION DETAILS

Name :	PARKER MARKWEL INDUSTRIES PRIVATE LIMITED (w.e.f. 18.02.2005)
Formerly:	MARKWELL HOSE INDUSTRIES PRIVATE LIMITED
Registered Office :	202-203, Raheja Centre, Free Press Journal Marg, Nariman Point, Mumbai- 400 021, Maharashtra, India
Country :	India
Financials (as on) :	31.03.2004
Date of Incorporation :	24.09.1979
CIN No.:	U25100MH1979PTC021705
Com. Reg. No.:	11-21705
TAN No.: (Tax Deduction & Collection Account No.)	MUMM19354G
PAN No.: (Permanent Account No.)	AAACM9967D
Legal Form :	Private limited liability company
Line of Business :	Manufacturing and marketing of multi spiral and braided hydraulic hoses to DIN, EN, SAE, IS & BS specifications which are used in industries such as earthmoving, construction, mining, material handling, agriculture, marine, transportation and injection moulding.

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 1000000
Status :	Satisfactory
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well-established and reputed company having satisfactory track. Directors are reported as experienced, respectable and resourceful businessmen. Their relations are reported as fair. General financial position is good. Payments are usually correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions.

LOCATIONS

Registered Office :	202-203, Raheja Centre, Free Press Journal Road, Nariman Point, Mumbai – 400 021, Maharashtra
Tel. No.:	91-22-22876438/ 39/ 22880764/ 22834169
Fax No.:	91-22-22876470
E-Mail :	markwel@vsnl.com markpat@hd2.dot.net.in
Website :	http://www.markwel.com
Corporate Office :	5 Wadia House, 2^nd Floor, 120, Wodehouse Road, Mumbai – 400 005, Maharashtra, India
Tel. No.:	91-22-22150160/22150166/22150423
Fax No.:	91-22-22150430
E-Mail :	exim@markwel.com
Factory:	26-29, I.D.A., Phase IV, Patancheru, District Medak (Near Hyderabad) - 502 319, Andhra Pradesh
Tel. No.:	91-8455-242797/244165
Fax No.:	91-8455-242708
E-Mail :	markpat@hd2.dot.net.in

DIRECTORS

Name :	Mr. Rahematullah S. Rahimtoola
Designation :	Director – Finance
Address :	Zaver Mansion 43, N A Purandara Marg, Chowpatty Sea Face, Mumbai - 400007
Date of Birth :	31^st August, 1943
Date of Appointment :	24^th September, 1979
Name :	Mr. Adi Jehangir Marker
Designation :	Director – Administration
Address :	Zaver Mansion 43, N A Purandara Marg, Chowpatty Sea Face, Mumbai - 400007
Date of Birth :	3^rd June, 1940
Date of Appointment :	28^th March, 1979
Name :	Mr. Jimmy Jehangir Marker
Designation :	Chairman and Managing Director
Address :	8/8, Spenta Apartment, Gibbs Road, Mumbai – 400006
Age :	12^th February, 1953
Qualification :	B.Com.
Experience :	25 Years
Date of Appointment :	13^th December, 1988
Previous Employment:	Grey Mackenzi and Company – Sales Executive
Name :	Mr. Farokh Jahangir Marker
Designation :	Whole Time Director
Address :	10- A, Akash Ganga, 89, Bhulabhai Dasai Road, Mumbai - 400036
Age :	24^th November, 1938
Qualification :	B.A., LL.B.
Experience :	38 Years
Date of Appointment :	28^th March, 1983
Previous Employment:	Business
Other personnel :-	Mr. Shenwaz Neville Munshi
Designation :	Company Secretary
Address :	Botawalla Building, “A” Block, 3^RD Floor, Tardeo Road, Mumbai – 400007
Date of Birth :	19^th December, 1947
Date of Appointment :	14^th March, 1997
Name :	Mr. Ashok Pratap
Designation :	Director
Address :	Ruby Mansion, Darbarshah Lane, Office Napean Sea Road, Mumbai – 400062
Date of Appointment :	18^th February, 2005
Name :	Mr. Gregory Kreuer
Designation :	Director
Address :	Parker Hannififne Corporation, Fluid Connectors, Asia Pacific 280, Yunquio Road, Jin Qlao Export Processing Zone, Shanghai 201206, China
Date of Appointment :	18^th February, 2005

MAJOR SHAREHOLDERS

Names of Shareholders	No. of Shares
Mr. Jimmy Jehangir Marker	800320
Mr. Farokh Jahangir Marker	705830
Mr. Adi Jehangir Marker	50
Mrs. Mumtaz Rahematullah	100
Mr. Sam S. Choksey	25000
Mr. Bezam F. Dittia	100
Mr. Zenobia A. Marker	50
Mr. Aspi J. Marker	50
Mr. Keki Jehangir Marker	60
Mr. Farkta J. Marker	50
Parker – Hannifin International Corporation, USA	1
Parker- Hannifin Corporation, USA	1531559

BUSINESS DETAILS

Line of Business :	Manufacturing and marketing of multi spiral and braided hydraulic hoses to DIN, EN, SAE, IS & BS specifications which are used in industries such as earthmoving, construction, mining, material handling, agriculture, marine, transportation and injection moulding.
Products :	· Tubes · Pipes · Hoses of Vulcanised Rubber other than hard rubber · Reinforced or otherwise combined any with metal other material · Fittings · Textile Reinforced or otherwise combined only with metal/other materials without fitting – 4009.20 Reinforced or otherwise combined only with textile/other materials without fitting – 4009.30 With Fitting – 4009.50
Brand Names :	"Spiraflex™", "Spirablast™", "Markwel", "MH-174™", "Powerflex™", "MH-Super™", "Slimline", "Slimpac", etc
Exports to :	North and South America, Europe, Australia, Far and Middle East and has the distinction of being the only Indian hydraulic hose manufacturer to receive the prestigious: - All India Rubber Industries Association (AIRIA) and Chemicals and Allied Products Export Promotion Council (CAPEXIL) awards for excellence in exports.
Imports from :	Europe
Terms :
Selling :	-
Purchasing :	L/C

PRODUCTION STATUS

Particulars	Licensed Capacity	Installed Capacity	Actual Production
Tubes, pipes, hoses of vulcanised rubber other than hard rubber, with or without their fittings	3600000	3600000	2031809

GENERAL INFORMATION

Suppliers:	v Om Enterprises v KAB Engineering Works v Jagrit Polymers Private Limited v Syno Chem India v Taurus Chemical Private Limited v Techno Waxchem Private Limited v Universal Corporation v N C Corporation v Goradia Industries v Kusumgar Corporation
Customer:	v Caterpillar India Private Limited v Bharat Earth Movers Limited v L & T Komatsu Limited v Ashok Leyland Limited v Ingersoll Rand (India) Limited v Volvo India Limited v Escorts Construction Equipment Limited v Atlas Copco (India) Limited v Plasser India Private Limited
No. of Employees :	Around 600
Bankers :	Development Co-operative Bank Limited,Mumbai, Maharashtra Andhra Bank,R. P. Road Branch, R. P. Road, Secunderabad – 500 003, Andhra Pradesh The Zoroastrian Co – Operative Bank, 16, Horniman Cirecie, Bombay - 400023
Facilities :	Term Loans from Andhra Bank secured by first charge on factory building and machinery and further guaranteed by the directors of the company of Rs. 40.636 millions
	Cash Credit from Andhra Bank of Rs. 19.564 millions PRE and Post Shipment credit from Andhra Bank of Rs. 48.263 Millions Factory Facilities from Can Bank Factors Limited - Rs. 36.964 Millions Others Car Finance Companies - Rs. 0.120 Millions

Banking Relations :	Good
Auditors :	Sharp and Tannan Associates Chartered Accountants 87, Nariman Bhavan, 227, Nariman Point, Mumbai – 400 021, Maharashtra.
Tel. No.:	91-22-22022224 / 8857
Fax No.:	91-22-22023856
E-Mail :	staby@vsnl.com
Associates:	J. K. Maker & Sons Power Marketing

CAPITAL STRUCTURE

Authorised Capital :

No. of Shares	Type	Value	Amount
5,000,000	Equity Shares	Rs.10/- each	Rs.50.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1,531,560	Equity Shares	Rs.10/- each	Rs.15.316 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2004	31.03.2003	31.03.2002
SHAREHOLDERS FUNDS
1] Share Capital		15.315	15.315	15.316
2] Reserves & Surplus		243.869	179.237	159.089
NETWORTH		259.184	194.552	174.405
LOAN FUNDS
1] Secured Loans		145.549	111.055	72.610
2] Unsecured Loans		36.779	25.005	11.610
TOTAL BORROWING		182.328	136.060	84.220
DEFERRED TAX LIABILITIES		26.427	21.523
TOTAL		467.939	352.135	258.625
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		267.244	156.826	134.010
Capital work-in-progress
INVESTMENT		0.182	0.180	0.182
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	118.947	87.519	47.677
	Sundry Debtors	153.800	114.673	79.781
	Cash & Bank Balances	2.090	9.523	6.959
	Other Current Assets	45.331	30.670	16.829
	Loans & Advances	62.132	40.449	53.207
	Total Current Assets	382.300	282.834	204.453
Less : CURRENT LIABILITIES & PROVISIONS				--
	Current Liabilities	125.918	58.560	35.575
	Provisions	55.869	29.145	44.445
	Total Current Liabilities	181.787	87.705	80.020
Net Current Assets		200.513	195.129	124.433
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		467.939	352.137	258.625

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2004	31.03.2003	31.03.2002
Sales Turnover [including other income]	641.950	436.391	311.895
Profit/(Loss) Before Tax	112.974	69.501	57.207
Provision for Taxation	30.543	19.211	13.400
Profit/(Loss) After Tax	82.431	50.290	43.807
Export Value	367.181	211.998	129.204
Import Value	267.487	115.959	73.957
Expenditure	529.010	366.928	261.479

KEY RATIOS

PARTICULARS		31.03.2004	31.03.2003	31.03.2002
PAT / Total Income	(%)	12.84	11.52	14.04
Net Profit Margin (PBT/Sales)	(%)	17.59	15.92	18.34
Return on Total Assets (PBT/Total Assets}	(%)	17.39	15.80	16.90
Return on Investment (ROI) (PBT/Networth)		0.43	0.35	0.32
Debt Equity Ratio (Total Liability/Networth)		1.40	1.15	0.94
Current Ratio (Current Asset/Current Liability)		2.10	3.22	2.55

LOCAL AGENCY FURTHER INFORMATION

The company's product range includes :-

Multi – Spiral High Pressure

Braided Hydraulic Hoses

Braided Industrial Hoses

Operation and overall performance

During the year under report the total turnover was Rs. 636.13 millions as against Rs. 432.13 millions in the year 2003-04, thereby showing an increase of 47.20%.

Inspite of recessionary trend in the economy, the company's domestic turnover increased to Rs. 256.61 millions in the year from Rs. 208.49 millions registering an increase of 23.08%. In exports, the company continues to show a high growth. The export turnover for the year under report was Rs. 379.52 millions as against Rs. 223.64 millions in the year, thus registering an increase of 69.70%. The profit from operations as at 31.03.2004 stood at Rs. 112.97 millions as against Rs. 69.50 millions recorded last year, thus registering an increase of 62.55%.

The steady upswing in the growth of the company's financial performance is reflected in its strong networth of Rs. 174.400 millions as on 31/03/2004 as against Rs. 194.55 millions in the year 31.03.2003

Net project

The company has successfully test marketed Suraksha house (domestic L.P.G. house) in the Indian market and has become an approved supplier of this product of oil companies. The company has also entered into MOU with three oil companies i. e. BPCL, HPCL and LOCL and expect good demand for Suraksha house in the near future. The company has built good reputation and has well established it self in the export market. In view of consistent high growth for company's products in Export market, the company has embarked on an ambitious capacity expansion programme during the financial year 2003-04 which envisages increase in its installed capacity from 67.500 millions Mtrs. p. a. to 5.000 millions Mtrs. p. a. The method of financing the project is also being worked out.

The performance is expected to improve with higher capacity utilization of the new Braided Hose Plant.

Fixed assets

The company’s fixed assets of important value includes Land, Building, Plant & Machinery, Electrical Installation, Material Handling Equipments, Miscellaneous Plant Assets, Dies, Tools and Moulds, Laboratory Equipment, Borewell Pumps and Fittings, Vehicles, Furniture and Fixtures, Fire Fighting Equipments, Office Equipments, Air Conditioners, borewell and Computers.

Name of the Company	MARKWELL HOSE INDUSTRIES PRIVATE LIMITED
Presented By	Mr. F J Markar
1) Date and description of instrument creating the change	26.06.1992 Equitable mortgage by deposit of title duds on 26.06.92
2) Amount secured by the charge/amount owing on the securities of charge	Rs. 10.212 Millions
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given	The land in plot no. 26 to 29 admeasuring 6.3210 acres situated at Patancheru Sangareddy Medak, together with office building and factory sheds situated there at.
4) Gist of the terms and conditions and extent and operation of the charge.	Term Loan – Repayable in 60 monthly instalments commencing from 3 months after disbursement of loan interest 6.75% over bank rate subject to a minimum of 18.75% D P G Facility - Repayable in 60 months from each disbursement Open cash credit – Repayable on demand Interest – 23.25%
5) Name and Address and description of the person entitled to the charge.	Andhra Bank,R. P. Road Branch, R. P. Road, Secunderabad – 500 003, Andhra Pradesh
6) Date and brief description of instrument modifying the charge	Packing credit agreement dated 25.1-2003 Term Loan Agreement dated 25.1.2003 Hypothecation of moveable dated 25.1.2003 Application for FLC dated 25.1.2003
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.	Original of change dated 26.06.92 Modification of change dated 13.7.92 3^rd Modification dated 2.4.92 amount secured by charge increased from Rs. 10.212 Millions to Rs. 12.580 Millions Modification now made by agreement for hypothecation of movable dated 2.03.95 amount secured by charge increased from Rs. 12.580 Millions to Rs. 35.579 Millions
Name of the Company	MARKWELL HOSE INDUSTRIES PRIVATE LIMITED
Presented By	Mr. F J Markar
1) Date and description of instrument creating the change	2.03.1995
2) Amount secured by the charge/amount owing on the securities of charge	Rs. 22.900 Millions
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given	Hypothecation of Imported new machines, Indegenous machinery and factory building
4) Gist of the terms and conditions and extent and operation of the charge.	Limit – Rs. 22.900 Millions Margin – Building – 50% Indegenous machinery and factory building Interest – 5.75% above bank rate or minimum of 17.75%
5) Name and Address and description of the person entitled to the charge.	Andhra Bank,R. P. Road Branch, R. P. Road, Secunderabad – 500 003, Andhra Pradesh
6) Date and brief description of instrument modifying the charge	Not Available
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.	Not Available
Name of the Company	MARKWELL HOSE INDUSTRIES PRIVATE LIMITED
Presented By	Mr. F J Markar
1) Date and description of instrument creating the change	26.06.1992 Hypothecation of moveable machinery
2) Amount secured by the charge/amount owing on the securities of charge	Rs. 10.212 Millions
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given	Machinery at the factory comprising of mixing mill. Extruders, Braiders, Vulcanisers, etc
4) Gist of the terms and conditions and extent and operation of the charge.	Term Loan – Repayable in 60 monthly instalments commencing from 3 months after disbursement of loan interest 6.75% over bank rate subject to a minimum of 18.75% D P G Facility - Repayable in 60 months from each disbursement Open cash credit – Repayable on demand Interest – 23.25%
5) Name and Address and description of the person entitled to the charge.	Andhra Bank,R. P. Road Branch, R. P. Road, Secunderabad – 500 003, Andhra Pradesh
6) Date and brief description of instrument modifying the charge	2.03.1995 Hypothecation of moveable machinery
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.	Original of change dated 26.06.92 Modification of change dated 13.7.92 3^rd Modification dated 2.4.92 amount secured by charge increased from Rs. 10.212 Millions to Rs. 12.580 Millions Modification now made by agreement for hypothecation of movable dated 2.03.95 amount secured by charge increased from Rs. 12.580 Millions to Rs. 35.579 Millions
Name of the Company	MARKWELL HOSE INDUSTRIES PRIVATE LIMITED
Presented By	Mr. F J Markar
1) Date and description of instrument creating the change	2.03.95
2) Amount secured by the charge/amount owing on the securities of charge	Rs. 0.200 Millions
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given	Rs. 0.050 Millions under fixed deposit Title deeds of morkwel hose indiatries private limited
4) Gist of the terms and conditions and extent and operation of the charge.	Limit – Rs. 0.200Millions Margin – Building – 25% Indegenous machinery and factory building Commission – for performance guarantee – 2% of part thereof for performance guarantee – 3% of part thereof
5) Name and Address and description of the person entitled to the charge.	Andhra Bank,R. P. Road Branch, R. P. Road, Secunderabad – 500 003, Andhra Pradesh
6) Date and brief description of instrument modifying the charge	Not Available
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.	Not Available
Name of the Company	MARKWELL HOSE INDUSTRIES PRIVATE LIMITED
Presented By	Mr. F J Markar
1) Date and description of instrument creating the change	2.03.95
2) Amount secured by the charge/amount owing on the securities of charge	Rs. 0.400 Millions
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given	Irrevocable letter of credit ecge post shipment
4) Gist of the terms and conditions and extent and operation of the charge.	Margin – Nil Limit – Rs. 0.400 Millions Interest – Rs. 5.75% above bank rate or 17.5%
5) Name and Address and description of the person entitled to the charge.	Andhra Bank,R. P. Road Branch, R. P. Road, Secunderabad – 500 003, Andhra Pradesh
6) Date and brief description of instrument modifying the charge	Not Available
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.	Not Available
Name of the Company	MARKWELL HOSE INDUSTRIES PRIVATE LIMITED
Presented By	Mr. F J Markar
1) Date and description of instrument creating the change	26.06.1992 Equitable mortgage by deposit of title duds on 26.06.92
2) Amount secured by the charge/amount owing on the securities of charge	Rs. 10.212 Millions
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given	The land in plot no. 26 to 29 admeasuring 6.3210 acres situated at Patancheru Sangareddy Medak, together with office building and factory sheds situated there at.
4) Gist of the terms and conditions and extent and operation of the charge.	Term Loan – Repayable in 60 monthly instalments commencing from 3 months after disbursement of loan interest 6.75% over bank rate subject to a minimum of 18.75% D P G Facility - Repayable in 60 months from each disbursement Open cash credit – Repayable on demand Interest – 23.25%
5) Name and Address and description of the person entitled to the charge.	Andhra Bank,R. P. Road Branch, R. P. Road, Secunderabad – 500 003, Andhra Pradesh
6) Date and brief description of instrument modifying the charge	Packing credit agreement dated 25.1-2003 Term Loan Agreement dated 25.1.2003 Hypothecation of moveable dated 25.1.2003 Application for FLC dated 25.1.2003
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.	Original of change dated 26.06.92 Modification of change dated 13.7.92 3^rd Modification dated 2.4.92 amount secured by charge increased from Rs. 10.212 Millions to Rs. 12.580 Millions Modification now made by agreement for hypothecation of movable dated 2.03.95 amount secured by charge increased from Rs. 12.580 Millions to Rs. 35.579 Millions
Name of the Company	MARKWELL HOSE INDUSTRIES PRIVATE LIMITED
Presented By	Mr. F J Markar
1) Date and description of instrument creating the change	26.06.1992 Equitable mortgage by deposit of title duds on 26.06.92
2) Amount secured by the charge/amount owing on the securities of charge	Rs. 10.212 Millions
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given	The land in plot no. 26 to 29 admeasuring 6.3210 acres situated at Patancheru Sangareddy Medak, together with office building and factory sheds situated there at.
4) Gist of the terms and conditions and extent and operation of the charge.	Term Loan – Repayable in 60 monthly instalments commencing from 3 months after disbursement of loan interest 6.75% over bank rate subject to a minimum of 18.75% D P G Facility - Repayable in 60 months from each disbursement Open cash credit – Repayable on demand Interest – 23.25%
5) Name and Address and description of the person entitled to the charge.	Andhra Bank,R. P. Road Branch, R. P. Road, Secunderabad – 500 003, Andhra Pradesh
6) Date and brief description of instrument modifying the charge	13.7.92
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.	Original of change dated 26.06.92 Modification of change dated 13.7.92 3^rd Modification dated 2.4.92 amount secured by charge increased from Rs. 10.212 Millions to Rs. 12.580 Millions Modification now made by agreement for hypothecation of movable dated 2.03.95 amount secured by charge increased from Rs. 12.580 Millions to Rs. 35.579 Millions
Name of the Company	MARKWELL HOSE INDUSTRIES PRIVATE LIMITED
Presented By	Mr. F J Markar
1) Date and description of instrument creating the change	19.03.96
2) Amount secured by the charge/amount owing on the securities of charge	Rs. 5.000 Millions
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given	1^st Charge of hypothecation of spirai hydraulic hose manufacturing Rockwell model wsw Turntable machine no. 585 whether lying loose time during the continuance of this seurty be the company pune unit
4) Gist of the terms and conditions and extent and operation of the charge.	1^st Charge of hypothecation of spirai hydraulic hose manufacturing Rockwell model wsw Turntable machine no. 585 whether lying loose time during the continuance of this seurty be the company pune unit
5) Name and Address and description of the person entitled to the charge.	The Zorastrian Cooperative Bank , 16 horniman circle Bombay
6) Date and brief description of instrument modifying the charge	Not Available
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.	Not Available
Name of the Company	MARKWELL HOSE INDUSTRIES PRIVATE LIMITED
Presented By	Mr. F J Markar
1) Date and description of instrument creating the change	26.06.1992 Equitable mortgage by deposit of title duds on 26.06.92 26.06.1992 Equitable mortgage by deposit of title duds on 26.06.92 13.7.92
2) Amount secured by the charge/amount owing on the securities of charge	Term Loan – Rs. 2.180 Millions DPC Facility – Rs. 5.732 Millions Open Cash Credit – Rs. 1.500 Millions L C Credit – Rs. 0.800 Millions Total – Rs. 10.212 Millions
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given	The land in plot no. 26 to 29 admeasuring 6.3210 acres situated at Patancheru Sangareddy Medak, together with office building and factory sheds situated there at.
4) Gist of the terms and conditions and extent and operation of the charge.	Term Loan – Repayable in 60 monthly instalments commencing from 3 months after disbursement of loan interest 6.75% over bank rate subject to a minimum of 18.75% D P G Facility - Repayable in 60 months from each disbursement Open cash credit – Repayable on demand Interest – 23.25%
5) Name and Address and description of the person entitled to the charge.	Andhra Bank,R. P. Road Branch, R. P. Road, Secunderabad – 500 003, Andhra Pradesh
6) Date and brief description of instrument modifying the charge	Not Available
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.	Not Available

As per website Details:

MARKWEL ADVANTAGE

India's leading manufacturer of hydraulic hose.

Family owned business established in 1979.

Complete range of high quality spiral & braided hoses.

Hoses meet and exceed international specifications EN, DIN, SAE & ISO.

ISO 9001:2000 certified by DNV.

HOSE RANGE

All Markwel hoses are manufactured to exacting standards and conform to recognized international standards such as EN, DIN , SAE, ISO & BS. 

Markwel offers several other hoses for special applications. To find out the hose suitable to your specific requirement, please contact us.

All hoses are also available with Flame and Gladiator abrasion resistant covers.

All hoses for air or gas applications should be pin pricked.

Large bore sizes > 2" available.

MULTI SPIRAL HOSE

SPIRAFLEX VERY HIGH PRESSURE - EN 856 4SP	SPIRAFLEX EXTREMELY HIGH PRESSURE - EN 856 R13
SPIRAFLEX VERY HIGH PRESSURE - EN 856 4SH	SPIRAFLEX EXTREMELY HIGH PRESSURE - EN 856 R15
SPIRAFLEX HIGH PRESSURE - SAE 100 R9AT	SPIRABLAST ULTRA HIGH PRESSURE - WATER BLAST HOSE
SPIRAFLEX HIGH PRESSURE - EN 856 R12	OMEGAFLEX HIGH PRESSURE / HIGH FLEXIBILITY

HYDRAULIC HOSE

MARKWEL  HIGH PRESSURE  - EN 853 1SN	POWERFLEX HIGH PRESSURE - Exceeds EN 853 2SN
MARKWEL HIGH PRESSURE - EN 853 2SN	MH - SUPER HIGH PRESSURE  - Exceeds EN 853 2SN
SLIMLINE HIGH PRESSURE - EN 857 1 SC	SUPER JACK HIGH PRESSURE JACKING HOSE 10000 psi
SLIMLINE HIGH PRESSURE - EN 857 2 SC	MH - 174 HIGH PRESSURE - UNDERGROUND MINING HOSE, DGMS & MSHA Approved
SLIMPAC HIGH PRESSURE - SAE 100 R16	MARKWEL MEDIUM PRESSURE -  EN854 R3
TRI-K-FLEX HIGH PRESSURE - SAE 100 R17	MARKWEL MEDIUM PRESSURE - SAE 100 R5C AND R5R

INDUSTRIAL HOSE

AIRMASTER ROCK DRILL HOSE	PETROMASTER HARDWALL BS 3395:89 Type 3C
THERMIC STEAM IS 10655:1999 TYPE 2 / BS 5342	LPG HOSE BS 4089:1989 TYPE 1
THERMIC STEAM IS 10655:1999 TYPE 3 / BS 5342	AIRCRAFT REFUELING HOSE EN 1361:1997 TYPE C
GASOLENE HOSE UL 330  UL LISTED

GLADIATOR

 The tough abrasion resistant hose

Outer cover abrasion is one of the most common causes of standard hydraulic hose failure in harsh and abrasive environments such as earthmoving, mining and drilling operations where there is constant direct friction between hose to hose and hose to sharp metal components. Plastic or nylon sleeves, spring guards or tubing are generally used.

The better and long lasting solution is to use Markwel Gladiator abrasion resistant cover hoses. These hose come with an added bonus - they are also greatly resistant to weather, ozone, oils and chemicals.  

When tested in accordance with EN ISO 6945, abrasion testing up to exposure of the hose reinforcement, Gladiator hose has achieved exceptional performance - making it more than 300 times abrasion resistant than the standard rubber covers.

Gladiator hose therefore guarantees extra long lasting service life, lower maintenance and effective cost savings for the equipment users. It eliminates the need for expensive hose cover protections and reduces the total cost. So order our Gladiator hose now and save money on costly protections.

Gladiator Abrasion Resistance Covers can be manufactured on any Markwel Hose.

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.44.86
UK Pound	1	Rs.82.84
Euro	1	Rs.56.77

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