MIRA INFORM REPORT

Report Date :

13.12.2007

IDENTIFICATION DETAILS

Name :	PEST CONTROL (INDIA) PRIVATE LIMITED
Registered Office :	36, Yusuf Building, M. G. Road, Fort, Mumbai – 400 001, Maharashtra
Country :	India
Financials (as on) :	31.03.2007
Date of Incorporation :	30.07.1954
Com. Reg. No.:	009347
CIN No.: [Company Identification No.]	U74140MH1954PTC009347
TAN No.: [Tax Deduction & Collection Account No.]	MUMP15164C/ MUMP00273A
PAN No.: [Permanent Account No.]	AAACP5994K
Legal Form :	Private Limited Liability Company
Line of Business :	Providing pest control services and its products.

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 1150000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well-established company having satisfactory track records. Directors are reported as experienced, respectable and having satisfactory means of their own. Financial position is good. Payments are usually correct and as per commitments. The company can be considered good for any normal business dealings at usual trade terms and conditions. It can be regarded as a promising business partner in a medium to long run.

LOCATIONS

Registered Office :	36, Yusuf Building, M. G. Road, Fort, Mumbai – 400 001, Maharashtra, India.
Tel. No.:	91-22-2686 5550-4 / 5699 0252-5
Fax No.:	91-22-2686 5555 / 5699 0256
E-Mail :	corporate@pcil.co.in
Website :	http://www.pcilindia.com
Corporate Office :	2nd & 5th Floor, Jagdamba House, (next to Anupam Cinema), Peru Baug, P.O. Box 9060, Goregaon (East), Mumbai - 400 063, Maharashtra
Tel. No.:	91-22-26865550-4/56990252-5
Fax No.:	91-22-26865555/5699 0256
E-Mail :	corporate@pcil.co.in
Website :	http://www.pcilindia.com
Plants :
Address:	A-6/10/11, MIDC Area, Post Box No. 30, Western Express Highway, Beyond Dahisar Check Post, Mira (Dist. Thane) 401 107, Maharashtra
Tel No.:	91-22-28456277/28454278/28456934/ 28455207/28455734/28455652
Fax No.:	91-22-28457313
Email:	mirafactory@pcil.co.in
Address:	Plot Nos. 38/39, Taloja MIDC (Chemical Zone), Industrial Area, Village :Navade, Taluka : Panvel, Dist : Raigad, Maharashtra - 410 208
Tel No.:	91-2145-27402263/27401024/27401025
Fax No.:	91-2145- 27402263
Email:	talojafactory@pcil.co.in
Address:	Bio-Control Research Laboratories (BCRL) No. 36/2, Sriramanahalli,Rajankunte Post, P. O. Box 6426, Yelahanka, Bangalore – 560 064, Karanataka
Email:	jayanthk@vsnl.com
Sales Division :	127, Keytuo Industrial Estate, 220, Kondivita Road, (Off. Andheri-Kurla Road), Andheri (East), Mumbai 400 059, India
Tel No.:	91-22-28212546-7/28217385/2832 8481
Fax No.:	91-22-28221647
Email:	psd_mumbai@pcil.co.in industrial_products@pcil.co.in

DIRECTORS

Name	Mr. Nalkur Sripad Rao
Designation	Chairman Emeritus
Address	No. 1, Union Park, Nargis Dutt Marg, Khar, Mumbai – 400 052
Date of Birth	20.09.1920
Name	Mr. Anil S. Rao
Designation	Chairman & Managing Director
Address	Palmyra, 6^th Floor, Plot No. 593-B, 21^st Khar Pali Road, Bandra, Mumbai – 400 050
Date of Birth	03.01.1951
Name	Dr. (Mrs.) Pramila Chatterjee
Designation	Executive Director (Medical & Welfare)
Address	319, Sector A, Vasant Kunj, Pocket C, New Delhi – 110 070
Date of Birth	15.04.1973
Name	Mr. Jehangir N. Irani
Designation	Director
Address	Beg Mansion, Chowpati Sea Face, Mumbai – 400 007
Date of Birth	30.10.1942

KEY EXECUTIVES

Name :	Mr. Sunil Surkund
Designation :	Senior Vice President & Company Secretary

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

Names of Shareholders	No. of Shares
Mr. Nalkur Sripad Rao	11029
Late Mrs. Lily S. Rao	2754
Ms. Radha M. Bhatkal	3360
Mr. Mohan S. Rao	5700
Mr. Anil S. Rao	21228
Mrs. Geeta Mohan Rao	5034
Mrs. Geeta Mohan Rao	19296
Mr. Mohan S. Rao	19296
Mrs. Mariqnne A. Rao	9054
Dr. Ravi Bhatpal	3000
Ms. Anjali N. Nalkur	6096
Ms. Ramola Rao	2700
Dr. (Mrs.) Pramila Chatterjee	2100
Total	110647

BUSINESS DETAILS

Line of Business :	Providing pest control services and its products.
Products :	Pest Control Services Insecticides Electric pest control exterminators Household Products   Roban PestSeal Pest seas Aerosol Termiseal Trubble Gum Pest – O- Flash Spider

PRODUCTION STATUS

Particulars	Unit	Actual Production
Technical Pesticides	M. Tones	91.74
Solvents	K. Litres	358.57
Emulsifiers	M. Tonnes	3.13

GENERAL INFORMATION

No. of Employees :	900
Bankers :	Indian Overseas Bank 2/10, Elphinstone Building, Veer Nariman Road, Fort, Mumbai – 400 023, Maharashtra, India HDFC Bank Limited HDFC Bank house, Senapati Bapat Marg, Lower Parel (West), Mumbai 400 013, Maharashtra, India

Banking Relations :
	Satisfactory
Auditors :
Tel. No.:	Sharat Shanbag and Company Chartered Accountants “Vagdevi”, 396, LBS Marg, Mahim, Mumbai – 400 016, India
	91-22-24226986/24377598 (Res.)
Associates :
	PCI Cannon Hygiene Private Limited Rose Business Centre

CAPITAL STRUCTURE

Authorised Capital :

No. of Shares	Type	Value	Amount
300000	Equity Shares	Rs. 100/- each	Rs. 30.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1,20,000	Equity shares	Rs. 100/-	Rs. 12.000 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2007	31.03.2006	31.03.2005
SHAREHOLDERS FUNDS
1] Share Capital		12.000	12.000	12.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		275.904	218.973	172.493
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		287.904	230.973	184.493
LOAN FUNDS
1] Secured Loans		61.557	48.789	47.982
2] Unsecured Loans		1.347	1.347	1.347
TOTAL BORROWING		62.904	50.136	49.329
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		350.808	281.109	233.821
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		227.761	179.349	157.556
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		9.616	6.616	4.117
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	98.212	93.396	64.793
	Sundry Debtors	142.627	116.640	63.355
	Cash & Bank Balances	82.107	77.792	61.142
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	47.674	50.746	32.145
Total Current Assets		370.620	338.574	269.148
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	257.189	239.851	175.955
	Provisions	0.000	3.579	0.000
Total Current Liabilities		257.189	243.430	169.999
Net Current Assets		113.431	95.144	72.149
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		350.808	281.109	233.821

PROFIT & LOSS ACCOUNT

PARTICULARS		31.03.2007	31.03.2006	31.03.2005
Sales Turnover		1160.355	936.452	819.025
Other Income		0.000	0.000	0.000
Total Income		1160.355	936.452	819.025
Profit/(Loss) Before Tax		91.840	72.075	56.936
Provision for Taxation		0.000	0.000	35.936
Profit/(Loss) After Tax		91.840	72.075	21.000
Earnings in Foreign Currency :
	Export Earnings	N.A.	N.A.	0.000
	Other Earnings	N.A.	N.A.	6.800
Total Earnings		N.A.	N.A.	6.800
Imports :
	Raw Materials	N.A.	N.A.	0.000
	Capital Goods	N.A.	N.A.	0.000
	Others	N.A.	N.A.	65.923
Total Imports		N.A.	N.A.	65.923
Expenditures :
	Interest	2.889	1.737	0.000
	Insurance Expenses	0.000	0.000	0.000
	Power & Fuel	0.000	0.000	0.000
	Depreciation & Amortization	20.743	16.874	0.000
	Other Expenditure	1044.883	845.766	762.089
Total Expenditure		1068.515	864.377	762.089

KEY RATIOS

PARTICULARS		31.03.2007	31.03.2006	31.03.2005
PAT / Total Income	(%)	7.92	7.70	2.56
Net Profit Margin (PBT/Sales)	(%)	7.92	7.70	6.95
Return on Total Assets (PBT/Total Assets}	(%)	15.35	0.14	13.21
Return on Investment (ROI) (PBT/Networth)		0.32	0.32	0.30
Debt Equity Ratio (Total Liability/Networth)		1.11	1.27	1.33
Current Ratio (Current Asset/Current Liability)		1.44	1.39	1.36

LOCAL AGENCY FURTHER INFORMATION

HISTORY

Subject was incorporated on 30th July, 1954 at Mumbai in Maharashtra having Company Registration Number 9347.

In 1979, Subject undertook its largest ever agricultural rodent control job for the Department of Agriculture, Govt. of Karnataka, in an area covering more than 25,000 acres. The project was dubbed the Pied Piper Project and was the first of a series of many similar campaigns. The success of PPP-I led to PPP-II in the next year. The projects had, however, exposed the limitations of Warfarin; this to comprehensive field trials with the new generation, single dose anti-coagulant Bromadiolone (1979), which offered considerable advantages over conventional and first generation rodenticides.

It realised that excess use of chemical pesticides in agriculture and the resistance being developed in pests meant that alternate means of control were sorely needed. In 1979, an operational field trial project for suppression of the pink bollworm (Pectinophora gossypiella) employing the “Gossyplure hollow fibre” controlled-release sex pheromone, was undertaken near Bhatinda, Punjab. This extensive project, carried out jointly with the Directorate of Plant Protection Quarantine & Storage (PPQ&S), Directorate of Agriculture-Aviation, New Delhi, Conrel an Albany International company from the US and the Indian Cotton Mills Federation, Bombay, was a great success and proved that the pink bollworm was the major problem on cotton in Punjab. The effectiveness of biological control was demonstrated when subsequent yields increased by almost 34%.

The KARMA (Karjat Agricultural Rural Management Assistance) Project was initiated by the Rural Development Cell in 1975. The effort won national acclaim in the form of the Assocham Award from the Association of Chambers of Commerce, for Rural Development and Agricultural Activities, in 1978.

The electric flying insect control system was introduced under the brand name Pest-O-Flash®, in 1979.

The Eighties : Subject had begun to spread its wings, and in 1980, started provided technical consultancy in Muscat, Sultanate of Oman, through Muna Noor Incorporated. The operational and managerial staff were sent on deputation from Subject and major jobs were undertaken for termite, rodent and general pest control in palaces, residences and hotels.

Sterifume®, the microbial sterilisation service, was developed and introduced in hospitals and medical facilities in 1980.

The trials with pink cotton bollworm pheromone culminated with the setting up of the Bio-Control Research Laboratories, BCRL, in 1981. It was the first commercial insectary in India, with the aim of developing and perfecting “lab-to-land” bio-control technology.

In 1981-82, Subject was appointed as technical consultants by Greenfield MiddleEast Group, Dubai, U.A.E., and Four Eyes Consultants, to oversee the technical aspects and operations of aerial spraying against the Dubas Bug on date palms and on citrus orchards. Helicopters from Dollar Helicopters, U.K., were hired for the operation.

From 1982-84, Subject carried out PPP-III using Bromadiolone at East and West Godavari Districts in Andhra Pradesh.

With the overall increase in business, a dedicated factory with increased chemical filling and formulation capabilities was set up at Mira Road, near Mumbai, in 1983. This would ensure that the same chemicals would be used as per standards, at every Subject service establishment across the country. The gas formulation and filling unit was also made operational at the same premises.

As a diversification, horticultural jobs including landscape designing and their implementation, were taken up for defence establishments such as Defence Research and Development Organisation (DRDO) and RCI Imarat at Hyderabad in 1985-86.

Received the prestigious Jamna Lal Bajaj Award for Fair Business Practices from the President of India, in 1983.

The availability of synthetic pyrethroids such as Cypermethrin saw this chemical become one of the active ingredients in the new formula PestSeal® aerosol in 1984. Subject became the exclusive agent in the region for Lipha-France for Bromadiolone (which was commercially introduced under the brand name Roban® (1985).

In October 1988, Subject became a public limited company due to amendments in the Company’s Act; the word “Private” was dropped from the title and the company became Pest Control (India) Limited.

An emergency request from the country’s international flag carrier, Air India, led to the introduction of the Aircraft Fumigation service (1989).

The Nineties : Undertook the Pied Piper Project at Colaba, in south Mumbai, in 1992. The aim of this large scale rodent control programme was to demonstrate the long term efficacy and economy of a scientific approach using Roban®.

The rapid strides made by BCRL led to the National Award for Excellence in Research and Development Efforts in the Industry in the Agro-Industry Category, in 1993. This award is given by the Department of Scientific & Industrial Research (DSIR), Ministry of Science and Technology, Government of India.

Fumigation services achieved another first in the form of Bubble Fumigation in 1994, thus becoming the only PCO in the country to offer stack, structural, ship, aircraft, vacuum chamber and bubble fumigation.

In 1995, Subject became the sole agent in India for IGEBA Geraetebau GmbH-Germany and introduced the advanced technology range of IGEBA® thermal fog generators. These are now standard equipment for the company’s mosquito control operations and also sold commercially. Glue traps for rats and mice were also introduced under the brand name Trubble Gum® in the same year.

Development of specialised services led to the introduction of the Baiting Technique for Cockroach Control, specially designed to minimize client inconvenience (1997).

Introduced the concept of using natural extracts to stimulate facultative bacteria for odour control and waste management, through an agency for the Biologic™ range of products from SciCorp-Canada in 1997.

The fully automatic steriliser, Auto Eto™ (1999) and Custom Sterilisation Service was added to the sterilisation range. Own chambers were set up at Cochin (1998), Bangalore and Mumbai (1999).

First decade 2000 : Fumigation services were further strengthened with the installation of their own fumigation containers at Cochin in August 2000. The same month also saw Subject become the exclusive distributors in India for Goliath® Gel, the new generation cockroach control bait from Aventis CropScience.

In 2001, SUBJECT introduced the new generation glue based Insect Light Trap, Spider®, from Brandenburg, UK. These Electrical Flying insect Catcher (EFC) machines comply to international food safety standards and are an ideal tool for monitoring insect activity as they catch and preserve insects on Control (glue) Boards. The same year, Subject became the sole distributors in India for Trece Inc., USA, for their Storgard® range of pheromone monitoring systems for Stored Product Insect Pests. BCRL moved into its spacious new premises on the outskirts of Bangalore, which were officially innaugurated during the Annual Convention on 17 April 2001.

In July 2002, Subject became the first pest management company in India to hold education and awareness programmes on food safety as per international norms. The series of seminars were held in association with the American Institute of Baking (AIB) International, a well known food safety auditing company from the US. More such programmes are on the anvil.

In January 2003, Termiseal® was relaunched with Chlorpyriphos 2%. Trubble GumTM Economy pack was also introduced alongwith the unique Road-BoxTM Bait'n'Board station, which complies with latest standards and is lockable, tamper-proof and fixable. Roda-BoxTM can be used with Roban® cake and also Trubble GumTM Economy pack.

New lines of service, Stored product Insect Management, SIM Service TM (using the StorGard® range of products from Trece Inc., USA) and Bird Control (in association with Network Pest Control, UK) were launched. Subject also became the exclusive distributor for Monty's Joy Juice, a special plant nutrient, from Monty's Plant Food Company, USA. This product range will supplement the Company's range of bio-control agents and bio-pesticides.

BCRL division grew from strength to strength. Procedures for mass production of various products were further improved and standardized. The close association with University of Agricultural Sciences (UAS), Bangalore, resulted in the go-ahead for their M.Sc/PhD. students to carry out their research at BCRL. This was further strengthened when a formal Memorandum of Understanding (MOU) was signed between the two institutions for collaborative research, training and extension, making BCRL the first and so far only private institution to have done so in the country.

In June 2003, the company’s s standardisation programme was launched. This programme will implement the new standard operating procedures for upgradation of all services and also provide training to staff nationwide. This will enable the company to re-equip itself to cater to the changed scenarios and requirements of its customers.

Advances in eco-friendly management techniques for agriculture continued; Subject is the first company to develop and patent a portable water trap, Wota-TTM, to be used in conjunction with pheromone lures (also developed indigenously) for managing the four major sugarcane borers, Early Shoot Borer (Chilo infuscatellus), Inter-Node Borer (Chilo sacchaiphagus indicus), Stalk Borer (Scirpophaga excerptalis) and White Top Borer (Chilo auricilius). Other pheromones introduced were for the Brinjal Fruit & Shoot Borer (Leucinodes orbonalis) and Melon Fly (Bactrocera cucurbitae) and Fruit Fly (Bactrocera dorsalis). A specially designed trap for the last two, Fligh-TTM , was introduced along with an improved, water resistant trap with sticky liners, Del-TaTM, for trapping smaller moths such as Diamond Back Moth (Plutella xylostella). A significant break-through was the development of the indigenous lure for the Red Palm Weevil (Rhyncophorus ferrugineus), a serious pest of palm trees. RPW LureTM is easy to use and is far cheaper than its imported counterparts.

2004 : In its Golden Jubilee year, the company is uniquely poised to provide a comprehensive range of professional services and quality products & equipment for Pest Management.

Every living creature is engaged in a constant competitive struggle for food and shelter. Some of these creatures represent the top of their evolutionary chain, having remained unchanged for millions of years, long before the first humans walked the earth.

On the other hand, are the one species that have crossed almost all their natural barriers; compounded by their burgeoning population, they keep placing ever-increasing demands for means of food and shelter. And wherever they settle down, they create these means not only for themselves but also for others, some of which are already there, and some which move in later.

As their populations grow, they come into open conflict with us, eating their food, destroying their shelter, causing disease. That’s when they become a nuisance or “pest.” These pests, however, play an important part in the natural eco-system and will be around for a long time to come.

A blanket application of chemical pesticide only provides a temporary solution - the inherent side effects to their environment render this option unacceptable in the long run. Subject believes in an integrated approach towards pest management. They tackle pest problems through the use of carefully selected and well-documented strategies. After studying the pest and the surroundings, a conscious and judicious mix of non-chemical and chemical methods is applied.

In cases where there is no option but to use a chemical, the choice of chemical and dosage is based on its safety profile: chemicals that are low in human toxicity (good safety profile) yet extremely effective against target pests, are the preferred choice. Most importantly, it is the decision to use / not to use (a) certain component (s) that often determines success or failure. Common sense has no substitute; true IPM as they believe, is nothing but Intelligent Pest Management.

The company formulates pesticides mainly for captive consumption in its services.

Business performance and review

The company’s overall turnover has increased by 14% over the previous year. The services turnover has witnessed demand for the company products as well as due to contract manufacturing for multinational companies. Exports of products have also grown by 61% over the previous year.

The company has managed to increase its sales despite the competitive market and entry of multinational companies in the services with aggressive marketing strategies. The profitability has also been maintained despite overall increase in labour and input costs.

The company has entered into agreements for providing consultancy in Pest Management services to the corporate in Bangladesh and Thailand.

The company has entered into joint venture with M/s Alpha Clearing Limited, Mauritius, under the name of Alpha- Subject Management Limited, Mauritius, to provide Professional Pest Management Services and sale of the company’s products in Mauritius and neighboring countries. The official launch of the joint venture took place on 26th August, 2005 and inaugurated by Honorable Minister for Agro Industry and Fisheries, Mauritius.

The company has filed an application with the settlement commission with regard to the proceeding initiated by the income tax department and the same was admitted in the financial year 2002-2003. The above matter has been settled during the year under review.

The company celebrated its 50 years of professional pest management by organizing a grand convention at the renaissance Hotel and Convention Center, Powai, Mumbai. The convention, was organized from 28-30 November 2004, and was attended by more than 160 delegates, comprising Subject managers from across the nation as well as company’s international business partners, associates and friends.

Form 8:

Bankers Charges Report as per Registry

This form is for	Creation of charge
Corporate identity number of the company	U74140MH1954PTC009347
Name of the company	PEST CONTROL (INDIA) PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	36, Yusuf Building, M. G. Road, Fort, Mumbai – 400 001, Maharashtra, India.
Type of charge	Movable Property (not being pledge)
Particular of charge holder	HDFC Bank Limited HDFC Bank house, Senapati Bapat Marg, Lower Parel (West), Mumbai 400 013, Maharashtra, India
Nature of description of the instrument creating or modifying the charge	Agreement for vehicle loan and guarantee (Contact No. 2907907)
Date of instrument Creating the charge	18.01.2007
Amount secured by the charge	Rs. 0.250 Million
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest @12.92% On delay in the repayment of interest and or any other repayment by the company beyond such repayment due date, the Bank shall be entitled to charge an additional interest @ 2% p.m. or such other rate as may be specified by the Bank from time to time on the entire such outstanding amount due to the Bank. Terms of repayment The Loan is repayable in 35 EMIs of Rs. 0.083 Million, Starting from 05.02.2007 and ending on 05.12.2009. Margin As may be stipulated by Bank from time to time. Extent operation of the charge The company hypothecates to and charges in favour of the bank by way of first and exclusive charge of the equipment described in item No. 14 as security for the repayment/ Payment by the company of the loan granted or to be granted to the company by the bank together with all fees, interest, cost and expenses incurred or to be incurred by the bank and all other monies payable or to become payable by the company to the bank. Others The bank shall be absolutely entitled and have full power and authority to sell, assign or transfer in any manner or in whole or in part, and in such manner and on such terms as the bank may decide, including reserving a right to the bank to retain its power to proceed against the company on behalf of the purchaser, assignee or transferee, any or all outstanding dues of the company, to any third party of the Bank’s choice without reference to or without written intimation to the company.
Short particulars of the property charged	Hypothecation of Vehicle namely, Maker: TATA TELCO, Model: TATA ACE DS 111, (Year of Manufacture: 2007)

Name of the company	PEST CONTROL (INDIA) PRIVATE LIMITED
Presented By	PEST CONTROL (INDIA) PRIVATE LIMITED
1) Date and description of instrument creating the change	Letter of hypothecation in case of Open advances only dated 18.08.2001 Letter of hypothecation for Machinery, Goods, Book Debts dated 18.08.2001 ( Both these agreements together continue a single charge )
2) Amount secured by the charge/amount owing on the securities of charge	Rs. 27.500 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 Raw materials, Stocks in Process, Finished Goods, Consumables of the borrower All Book Debts, Present and Future, Due to the Borrower and Collateral security by way of hypothecation of plant and machinery, Equipments, Scientific Instruments and Vehicles of the borrower.
4) Gist of the terms and conditions and extent and operation of the charge.	To secure the due repayment of Cash Credit Facility, together with costs, Charges, Interest and expenses, granted by the bank to the borrower. Rate of Interest:- 15% p.a. quarterly rests Margin:- 25% on Inventories 50% on Book Debts
5) Name and Address and description of the person entitled to the charge.	Indian Overseas Bank 2/10, Elphinstone Building, Veer Nariman Road, Fort, Mumbai – 400 023, Maharashtra, India
6) Date and brief description of instrument modifying the charge	Letter of hypothecation (for securing Machinery/ Vehicles/ Goods/ Book Debts) dated 18.08.2001
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.	By 1^st modification dated 16.09.2003 the charge had been renewed for Rs. 27.500 Millions By 2^nd modification dated 18.11.2003 the charge had been enhanced from Rs. 27.500 Millions to Rs. 37.500 Millions ( Registered on 18.12.2003 under document serial No. 441) By this modification, Term Loan of Rs. 37.500 Millions granted by the Bank to the borrower has further been renewed and shall continue to be in force. Therefore, the overall charge still remains at Rs. 37.500 Millions.

Future plan of action

Propagating integrated Pest Management Techniques with the use of the Eco-friendly products being developed. The company will continue efforts towards development and absorption of new technologies. Through these efforts it plans to strengthen its position in the market.

Industrial Products

v Bio Control Agents

v Bio Pesticides

As Per Web Details

Profile

Subject was established in the year 1954 and is the first and largest pest management company in the country. They offer a comprehensive range of professional pest management services and quality products and equipment through a countrywide network of over 85 establishments and a dedicated workforce of over 2000 personnel.

Their own product formulation and manufacturing (liquid and gas) facilities are equipped with state-of-the-art quality control, analysis and research and development (R and D) facilities. Bio-Control Research Laboratories (BCRL) is a modern facility engaged in the propagation and production of various biological control agents & bio-pesticides and spearheads the company’s commitment towards environment-friendly pest management techniques.

Over the years, Subject has constantly endeavoured to introduce better and more cost-effective pest management technology for both services and products. Vision and foresight coupled with the desire to constantly improve has enabled us to retain their premier status in the country today. On the threshold of their 50th year of existence, they reaffirm their commitment: that of providing comprehensive, one-stop solutions in their field of expertise.

Intelligent Pest Management

Every living creature is engaged in a constant competitive struggle for food and shelter. Some of these creatures represent the top of their evolutionary chain, having remained unchanged for millions of years, long before the first humans walked the earth.

They, on the other hand, are the one species that have crossed almost all their natural barriers; compounded by their burgeoning population, they keep placing ever-increasing demands for means of food and shelter. And wherever they settle down, they create these means not only for themselves but also for others, some of which are already there, and some which move in later.

As their populations grow, they come into open conflict with us, eating their food, destroying their shelter, causing disease. That’s when they become a nuisance or “pest.” These pests, however, play an important part in the natural eco-system and will be around for a long time to come.

A blanket application of chemical pesticide only provides a temporary solution - the inherent side effects to their environment render this option unacceptable in the long run. Subject believes in an integrated approach towards pest management. They tackle pest problems through the use of carefully selected and well-documented strategies. After studying the pest and the surroundings, a conscious and judicious mix of non-chemical and chemical methods is applied.

In cases where there is no option but to use a chemical, the choice of chemical and dosage is based on its safety profile: chemicals that are low in human toxicity (good safety profile) yet extremely effective against target pests, are the preferred choice. Most importantly, it is the decision to use / not to use (a) certain component (s) that often determines success or failure. Common sense has no substitute; true IPM as they believe, is nothing but Intelligent Pest Management.

Awards

• Assocham Award from the Association of Chambers of Commerce for Rural Development and Agricultural Activities, 1978.
• Jamna Lal Bajaj Award for Fair Business Practices, 1983.

• National Award for Excellence in Research and Development Efforts in the Industry in the Agro-Industry Category, given by the Department of Scientific & Industrial Research (DSIR), Ministry of Science and Technology, Government of India, 1993.

Alliances and Affiliations

Alliances:

• OCS Group
• Cannon Hygiene International

PCS

Cannon Hygiene is one of the world's largest companies providing a range of washroom hygiene services and medical waste disposal services.

It is part of the OCS Group, the world's largest family owned property support services companies comprising of specialist Cleaning, Catering, Security, Transport, Technical and Hygiene services with a presence across the five continents. Subject has a joint venture with Cannon Hygiene to provide services for disposal of feminine hygiene and biomedical waste.

Subject also provides technical expertise and consultancy services in pest management for Property Care Services (PCS), part of the OCS Group, in Thailand and Bangladesh.

Brandenburg UK

One of the premier companies in the world manufacturing range of speciality products for Flying and Biting Insect control, Rodent Bait Stations, Consumables, and Germicidal Air Sterilisers. It has high-tech R and D and CAD/CAM facilities.

Subject is their international partner and exclusive distributor in India, marketing the flying insect catcher (EFC) "Spider", "Dragonfly" mosquito and biting insect control device, "Medixair" germidical air steriliser. Efforts are currently underway to set up a joint venture in India for R and D and manufacture of various products.

Igeba

Igeba Geraetebau GmbH is a leading manufacturer of thermal foggers and ultra-low volume aerosol generators from Germany. Igeba lays great emphasis on quality and is certified to ISO 9001:2000 standard. SUBJECT is the exclusive distributor for the product range in India.

Sorex International

Sorex International, a joint initiative between the companies in the Sorex Holdings Group : Network Pest Control Systems Limited and Sorex Limited, offers one of the broadest ranges of branded chemical and non-chemical products for the effective control of rodents, birds and insects.

Network Pest Control

Subject is associated with Network Pest Control Systems for providing a specialised service, Pest Bird Management as well as Sorex International for their range of products.

Nordiko Quarantine Systems

Nordiko Quarantine Systems is an Australian company that specializes in providing innovative cargo fumigation solutions for the shipping industry. Nordiko's products offer unique solutions that are both environmentally friendly and safe to operate. Subject is associated with Nordiko to provide their new technology fumigation in India.

Trece Incorporated

Trece Incorporated is one of the leading companies in the world in pheromone technology. It offers a wide range or products for pheromone monitoring and Subject is the exclusive agent in India, using the "Storgard" range in its speciality SIM Service™ for stored-product insect pests in the food processing industry.

SciCorp

SciCorp, Canada, is engaged in research, development and marketing of an innovative product range for odour control and solid and liquid waste management, using the concept of facultative bacteria. Subject is the exclusive distributor for the Biologic range of products in India.

Glasbau Hahn

Glasbau Hahn from Germany is one of the leading manufacturers of high quality glass cases for speciality applications such as in museums, etc. Subject is the exclusive agent in India.

AIB International

American Institute of Baking (AIB) International : a leading no-profit organisation that is involved in food safety audits and certification. It conducts courses on food safety and HACCP certification across the world. Subject has been associated with AIB International in bringing Food Safety Awareness Training and Certification Seminars for the first time in the country.

Alpha Group

Alpha Group, Mauritius : is one the largest facilities support service companies in Mauritius. Subject has recently formed a joint venture, Alpha Subject Pest Management, to provide professional pest management services in the island nation.

Affiliations

• IPCA
• Founder Member
• NPMA
• BPCA
• AEPMA
• AMCA
• CPMA
• GAFTA
• ESA
• BWPDA

Early Days: During World War II, the Allies operated a land link, transporting lease land supplies from Iranian ports through Armenia and Azerbaijan to Russia. A young Indian was in charge of fumigating the wartime supplies with Methyl Bromide. Sometimes, he and his colleagues had to dust refugees with 10% DDT against typhus! In 1946, the 26-year-old returned to India from Britain with all his savings and decided to start his own pest control business. The firm called “Goodwill Pest Control”, introduced pest control for offices, but soon folded up due to the lack of awareness and thus, business.

Ruined financially, he decided to get a job and was soon working with a prestigious organisation as their Estate Manager. His dream, however, remained alive and with his brother, he continued the business part-time. They landed their first major contract with the Oil Seeds Trading Company when they started fumigating railway wagons carrying groundnuts for export. A post-construction termite treatment with Raghuvanshi Mills followed a year later. Soon, things started looking up and he gave up his job, rented a tiny office near Flora Fountain in Mumbai and launched a private limited company. That young man was none other than their Chairman, Nalkur Sripad Rao, who with his brother, the late Nalkur Bhavani Shankar Rao, set up Pest Control (India) Private Limited on 30 July 1954.

The Fifties: Subject was then the only company of its kind in India, with fumigation as the main business. Services soon expanded to include termite control (1955), rodent control and household disinfestation (1956). Those were the early days when Pest Control as a private service was virtually non-existent in India. There were no institutes to impart training and no specific equipment for urban pest control was available. Also, the restrictive import policies meant that new technologies were not easily accessible.

The Sixties: N.S. Rao then embarked on a worldwide pest control training visit. In 1960, he became a member of the National Pest Control Association, NPCA (now NPMA), the first member from the far east excluding Japan. He visited the U.K. and trained at Rentokil, thus setting up the basis for a long association.

Subject soon set about its task and virtually wrote the handbook on pest control in the country. Specific training programmes were created in-house. With the Green Revolution and the pesticide manufacturers’ focus squarely on agriculture, the Company decided to set up its own chemical formulation and filling plant to ensure reliability, standards and efficacy at Ville Parle, Mumbai (1962). The available range of agricultural spraying equipment was modified for urban pest control use while technical teams were sent out of the country to source new technology and information.

A significant outcome was the introduction of Warfarin (1966), a multiple dose anti-coagulant rodenticide, under the brand name Rodafarin®. Soon Subject was offering all major services and its network of branches and bases grew steadily

Realising that the trade would not have a voice or any significant representation unless there was a united forum, Subject spearheaded the setting up of the Indian Pest Control Association (IPCA), with N.S. Rao as its Founder President, in 1967. Since then Subject has had regular representation in the IPCA, with many senior executives having served the Association in various capacities over the years.

The Seventies: The need for regular interacting within Subject was transformed into the Subject Convention. This biannual event, which has been held since 1972, is a gathering of every single manager from across the country.

In 1974-75, the Agricultural Department, Govt. of Maharashtra, sought Subject’s help for a large-scale intensive and extensive agricultural rodent control programme at Nannaj, Sholapur, which was heavily infested by rats. The programme, covering 7000 acres and 739 houses, carried out Rodafarin® baiting in fields and houses for commensally rats and included training facilities for village level workers and farmers.

The company’s philosophy of client satisfaction and its resultant goodwill meant that it was often approached for solutions to problems not usually associated with pests. The medical fraternity expressed the need for alternate and better means of sterilisation for their equipment; this was developed into the first ethylene oxide gas based steriliser, Freoster®, which was patented and introduced in 1977. To ensure a smooth and reliable supply of gas mixtures, the development of a dedicated gas filling and formulation unit was also set in motion.

Chlordane and Heptachlor were introduced into services; the former was also commercially introduced as a ready to use liquid termiticide, Termiseal® in 1976. Subject was the exclusive distributor in the region for Velsicol-USA, for the two chemicals. The same year, Pyrethrum was made commercially available in an aerosol form, under the brand name PestSeal®.

Fumigation services had hitherto been limited to stored commodities in warehouses, containers and silos; 1978 saw ship fumigation being introduced, where bagged commodities in holds were fumigated.

In 1977-78, Subject demonstrated that a successful mosquito campaign could be carried out for a large area such as an entire township, when it bagged the contract for mosquito control at Faridabad, near Delhi. Residential and industrial areas (including surrounding villages) were treated using larvicides and adulticides. Motan swing foggers, Subject’s first import of fogging equipment, were also introduced in this project which was highly successful and well appreciated by all residents.

Bio-Control Research Laboratories (BCRL)

The company’s pioneering work in the bio-control field led to the establishment of BCRL in June 1981. It was the first commercial bio-control laboratory in the country with several innovations and standards of mass production of bio-control agents to its credit. The underlying objective was to perfect lab-to-land technology; i.e., developing delivery mechanisms for various bio-control agents so that they are made available to end-users in different parts of the country at reasonable rates.

These efforts have created great awareness and demand for eco-friendly and integrated pest management techniques and have been recognised through the prestigious National Award for Excellence in Research and Development Efforts in the Industry, in the Agro-Industry Category in 1993, given by the Department of Scientific and Industrial Research (DSIR), Ministry of Science and Technology, Government of India. Currently, BCRL is in the process of consolidating and expanding its facilities to meet anticipated future demands.

Major Project:

The National Agricultural Technology Project (NATP), funded by the World Bank and administered by the Indian Council of Agricultural Research (ICAR), in association with the Department of Agricultural Entomology, Tamil Nadu Agricultural University (TNAU), Coimbatore. Titled "Improving Commercial Scale Production and Formulation Technology for Nuclear Polyhedral Viral Pesticides", it is the first such project ever sanctioned to a private bio-control laboratory.

The single most important aspect in promoting biological control is awareness. Farmers have been used to traditional methods of spraying and therefore it is imperative that this awareness is created at grass-root level. Often, queries from farmers for new products lead to research for newer components in the package

A team of Managers and field staff from Subject is at hand, comprising Technical Sales Officers and Field Assistants, all with a background in entomology – they are either M. Sc. or B. Sc. Agri. After a period of thorough training, they are constantly in the field, sharing the farmers’ experiences and providing solutions to their problems.
The company’s stalls are a regular feature in 'kisan melas' and other agricultural fairs. The recently set-up Field Education and Extension (FEE) Unit, headquartered at BCRL, has taken on this mantle.

It carries out dedicated fieldwork through trials and validations of different products, imparts education, spreads awareness and collects feedback from farmers and general data and information from the field.

The company employs around 900 persons in its set up.

The company’s fixed assets of important value include land, building, plant and machinery, equipments, furniture and fixtures, electrical installations, motor vehicles and cycles.

Products

Roban- The Rat Killer:

A ready-to-use, wax-block bait containing Bromadiolone 0.005% that acts against rats, mice and bandicoots, suitable for both indoor and outdoor use. Available in 100g and 50g Cake form. Also available as 0.25% Concentrate in 5g sachet and 500g tin pack.

Pest Seal:

An effective, ready-to-use liquid formulation of pyrethrum and lindane for use against all flying and crawling insects. For use in a pump or spray gun, PestSeal®liquid is available in ½ , 1 and 5 litre packing.

Pest Seal – Aerosol:

A ready-to-use formulation containing cypermethrin and pyrethrum, specially formulated against cockroaches and other flying and crawling insects such as flies, mosquitoes, bed bugs, silverfish, etc. Available in 500ml and 320ml with convenient spray-through cap.

Termiseal :

SUBJECT’s ready-to-use formulation of Chlorpyriphos 2% to counter termites (mistakenly called white-ants). Also effective against all wood-boring pests. Available in ¼, ½, 1 and 5 litre packing.

Trubble – Gum (The Better Rat Trap) :

The unique non-toxic glue trap for rats and mice that looks and opens like a book. The inside surfaces are coated

with a special sticky adhesive. Convenient to use, proven effective in homes, offices, farms and factories. Available in Regular and Economy pack.

Pest – O – Flash:

India’s first electric flying insect-control system which attracts, kills and collects flies and other insects in a safe non-toxic, economical and convenient manner. Available in a range of models.

Spider Electric Fly Catcher:

SpiderTM : Spider, latest generation flying insect catcher (EFC), conforming to International food safety standards. Efficiently and quietly traps flying insects on its replaceable control (glue) boards. Lightweight and sturdy body. There is no fragmentation or blow-out and no "zap", associated with insectocutors. It has three UVA lamps for maximum attraction and an optional screen to shield the trapped insects from view.

Manufacturing

TALOJA GAS FORMULATIONS & FILLING FACILITY CERTIFIED TO ISO 9001-2000

Manufacturing & Formulation and Research & Development

Subject occupies a unique position in that it is perhaps the only pest management company that manufactures, uses (in its services) and sells its own products. The Company holds more than 60 registrations from the Central Insecticides Board (CIB) and has its own factories for formulation and manufacturing of cake and liquid pesticides and formulation and filling of fumigants and sterilant gases. In-house production translates into an assurance of quality products and services, a hallmark of the company.

The Pesticide Formulation and Production facility houses liquid & cake formulation, glue board and Insect Light Trap (ILT) manufacturing units.

The well-equipped Chemical Research and Development (RandD) laboratory is engaged in analysis and quality control and also offers laboratory services for analysis of pesticides, pesticide residues and quality certification.

The state-of-the art Pheromone Laboratory specializes in synthesis and mass production of various pheromones and lures and is staffed by a team of PhDs and entomologists engaged in research on the upgradation of technologies, ensuring Subject’s continued leadership in the field.

Subject’s gas filling and formulation unit is a well laid out, modern facility, manned by trained personnel. It offers composite gas filling for methyl bromide and ethylene oxide, used in the company’s operations as well as sold commercially.

The facility has been designed to produce and store gases in excess of 10 times the past capacity, with very special emphasis being placed on safety.

The facility has recently been awarded the ISO 9001: 2000, certification by BVQI. It is one of the first 10 companies in India to be certified to revised ISO 9001 standard

Social Projects

From its inception Subject has been a socially responsible company. The acronym ‘Subject’ denotes priority to the Public, the Company and the Individual, in that order. Three examples of Subject’s social involvement and initiative, illustrate its corporate mission.

Karma

Karma, (Karjat Agricultural Rural Management Assistance) was initiated by the rural development cell of Subject in 1975. The project seeks to promote an integrated, sustainable life-style in a rural setting. Subject contributes towards the cost of the staff and its offices as its financial contribution to rural development. Under the guidance of Chairman Mr. N.S.Rao, it initiates projects directed towards improvement of health, education and overall socio-economic development of numerous villages at Karjat, a small town near Mumbai.

The Academy of Development Sciences (ADS) was set up subsequently to train and equip local tribals and help them attain a better quality of life and at the same time, keep their traditions and valuable knowledge alive.

The food-processing factory produces jams, pickles, squashes and candy using traditional recipes and is marketed under the popular “Tungi” brand name. The cane factory produces fine cane and bamboo furniture and articles, while the Scientific Nursery contains various species of local and indigenous medicinal trees, herbs and shrubs and even a “vaid” or local medicine man in attendance. A local boys orphanage has been adopted and free eye camps are a regular feature in the area.

Pied Piper Colaba

The Pied Piper rodent control campaign was carried out jointly by the Bombay Municipal Corporation, the Colaba Residents Association and Subject “between” 2-19 December 1992. The well-planned exercise nominated an urban area of Mumbai for the mass eradication of rodents. The area encompassed P.J. Ramachandani Marg, Arthur Bunder Road, Shahid Bhagat Singh Road and BEST Marg including Mere-Weather Road, which contained about 70 buildings of 4-5 storeys and numerous shops, commercial establishments, milk distribution centres, a large B.P.T. recreation garden, Petrol bunk, School, Restaurants, Nursing Homes and dispensaries. Around 750 families resided in the area at the time.

The entire area was divided into six blocks and the campaign was conducted in three phases - Pre-Campaign infestation, ROBAN® treatment and Post Campaign infestation. Local citizens were informed about the campaign and requests for their cooperation and information evoked a very good response.

Occupants of some 200 residences were interviewed and presentations and demonstrations were made to spread awareness about the rodent problem. The campaign achieved 95% control and was a textbook success. It established awareness that rodent control, earlier assumed to be an impossible task, was definitely achievable.

Picture Mumbai

In 1966, Subject managed and implemented the Getty Conservation Institute’s project - Picture Mumbai - Landmarks of a New Generation. This globally linked project seeks to foster through the medium of the camera, awareness in today’s youth of what they value in their surroundings. Nine young residents of Mumbai were encouraged to roam the city in search of icons of their time. The body of work was exhibited at Mumbai and has led to the formation of the Picture Mumbai Trust, which aims to uncover and showcase talent amongst today’s youth in various artistic disciplines related to conservation.

Services

Termites, often incorrectly referred to as ‘white ants’, have been on this earth for more than 250 million years, long before humans. They are not ants but are more closely related to cockroaches. They play an important role in nature - they break down dead or dry wood.

There are hundreds of species all over the world but two species are of economic importance - Subterranean and Dry wood (or wood-nesting) termites, of which subterranean termites are responsible for most of the damage.

As their name suggests, these termites live below the soil in well-organised colonies that are made up of reproductive (king and queen), workers and soldiers. They can digest anything containing cellulose, such as wood, paper or natural fabric.

Once a food source has been detected, workers construct mud tubes to it and from then on, the march is relentless. They stop at nothing and a gap of just 0.5mm is enough for them to gain entry. In their search for food they can even damage materials such as plastic, synthetic rubber and neoprene.

Termite damage worldwide runs into crores of Rupees every year. In most cases, the infestation goes undetected until it is too late. Therefore, the longer the delay, the more extensive and expensive the damage will be.

Preventive anti-termite treatment is essential for any premise - whether it is an existing structure, or under construction or renovation. Termiseal® treatment uses the chemical-barrier method that includes slab injection (post-construction) and surface sprays (pre-construction).

Press Release:

25 July 2007

PCI joins hands with Red FM to combat the Mosquito Menace

"Maccharon Ki Bajaao", Mumbai, July 25, 2007:

Pest Control India Pvt. Ltd. (PCI) and popular radio channel 93.5 Red FM have joined hands to help Mumbaikers tackle the dreaded mosquito menace. Red FM ran a special campaign in which listeners troubled by the mosquito menace were invited to send in their names and location via SMS to Red FM''s Morning No. 1 programme.  RJ Malishka would then send in the Red FM & PCI team to the locality selected by her, where the PCI team would then carry out a fogging and awareness operation. This was done  at Dhobi Ghat - Mahalakshmi, Naik Nagar – Kurla, Seven Bungalows - Andheri, Malvani – Malad and Pant Nagar – Ghatkopar. The Red FM RJ on the spot was Ms. Dipti and the PCI team was led by Mr. Dinesh Patil, Divisional Manager and Mrs. Renuka Atale, Branch Manager.

During the week-long visits, the Red FM-PCI team also interacted with citizens of the locality and gave them tips and information on hygiene and prevention and how to successfully combat the mosquito problem in their area. With the onset of the monsoons, a host of pest-borne diseases has been plaguing the city, with mosquitoes topping the charts in creating havoc. As part of its Corporate Social Responsibility (CSR), PCI been conducting various initiatives over the years, working together with the citizens to help them combat the ever rising incidence of pest-borne diseases such as Malaria, Chikungunya, Dengue & DHF and Leptospirosis in the city.

As specialists in the field and in business for more than half a century, PCI knows that only an integrated approach can effectively tackle the mosquito menace: a combination of fogging to kill the adults, destroying breeding sources to prevent future populations and awareness and education on how citizens can play their part by observing cleanliness and hygiene. The company has been working closely with BMC, supplying them with TF-35 fogging machines for all wards across the city. To supplement the BMC efforts, it has worked with Residents Associations, ALMs and NGOs across the city on various citizens’ initiatives against mosquitoes, which have spread great awareness and the citizens themselves have effectively tackled the mosquito menace through the elimination of breeding sources, coupled with a regular fogging exercise.

“We have been involved in several anti-mosquito projects, some even covering entire cities, but such activities can only gain ground if there is a true mass medium partnering us in delivering the message to all and sundry. So when Red FM contacted us for this unique initiative, we readily agreed! The reach of Red FM, their tagline “Bajaate Raho“ and RJ Malishka''s popularity has made them a household name, so people would easily relate to this while they would get valuable tips on mosquito management which is an otherwise mundane topic”, commented Mr. Nikhil Chatterjee, GM, Marketing, Product Development and CRM, PCI.

The grand finale was at Bhiwandiwala Terrace, Dhobi Talao, where the Red FM team put up a street play on mosquito awareness. Red FM''s star RJ Malishka addressed the qathering after which the PCI squad fogged the affected areas, amidst much cheering and fanfare from the local residents. After this, RJ Malishka and Nikhil Chatterjee, interacted with the residents and answered their questions about the mosquito problem and how to combat it.

15 November 2007

PCI Wins DSIR Award for R&D Efforts, 2007

New Delhi, 15th November 2007

PCI won the National Award for RandD Efforts in industry for the year 2007, in recognition of their RandD efforts in agro and food processing industries. This the second time PCI has been conferred with this prestigious award (the first being in 1993), given by the Department of Scientific and Industrial Research, Ministry of Science and Technology, Government of India.

PCI established the country’s first full-fledged facility for pheromone synthesis and over the years, has introduced several pheromones and trapping systems for agricultural pests. The company recently launched sex pheromone lures of 4 different sugarcane tissue borers.

This involved development of protocols for synthesis of 8 different pheromone compounds of high purity on laboratory scale, scaling up for commercial production, blending them in the appropriate ratios and production of lures. It also designed and patented a unique, cost effective and easy to use portable water trap, Wota-T™, for use with sex pheromone lures.

Over 1.5 lakh lures and 92,000 water traps were sold in the first 3 years for mass-trapping sugarcane borers, as a stand-alone and environment-friendly method of managing these noxious pests.

PCI has also worked with national and international research organisations for synthesis and supply of lures for managing different noxious pests such as coffee white stem borer, coconut beetles and cocoa pod borer.

Pheromones of several insect pests synthesized indigenously by PCI together with a range of traps are being sold within the country and also exported widely.

07 July 2007

PCI conducts Awareness Camp with Slum Rehabilitation Society NGO

Mumbai, Saturday, 07 July 2007:

“Mosquito-borne diseases like the dreaded Dengue, Chikungunya and Malaria can spread due to breeding in the most unlikely places”  said Mr. Siddharth Sarangpani, Divisional Manager, PCI , while talking to residents of the Majas MMRDA Complex during the local area awareness drive. A novel initiative by the local NGO, Slum Rehabilitation Society (SRS) along with the local federation was implemented to educate the residents about dangers from mosquito-borne & rat-borne diseases, with the support and technical guidance of PCI, its complete team of Managers & Technicians, at the Majas MMRDA Colony Jogeshwari, established to rehabilitate affected slum dwellers from various parts of Mumbai. The venue was the open ground located in the centre of the society surrounded by residential buildings on 3 sides.

The Agenda was set by the introduction speech given by Ms Del DeSouza of SRS wherein, she welcomed all the participants. This was followed by a talk on hygiene and cleanliness and its importance in controlling the spread of diseases by Mrs. Madhuri Hate from the BMC. Thereafter, a short speech by Mr. Siddharth Sarangpani of PCI enlightened the residents on preventing mosquitoes from breeding, identification of different kinds of mosquitoes and rats and diseases spread by these pests, information on how to identify their breeding areas and their elimination. Meanwhile PCI''s Corporate Communication Department had simultaneously organised a slide show presentation where the residents and children in particular, were given info on breeding areas of mosquitoes and rats and how to prevent and eliminate these.

The local federation members were taken around by Mr. Rupesh Doifode, Branch Manager, PCI to educate them on rat-borne diseases like Leptospirosis and rat infestation in the complex. He suggested ways to combat the menace and prevent repetition of infestation.To make the program more participative, Ms. Del DeSouza organised a treasure hunt - children were divided into 4 groups and motivated to collect and dispose the maximum trash within the society. Each group was accompanied by 2 PCI managers, who guided the children and showed them how to identify mosquito and rat breeding areas as well. Thereafter, they were given a quiz on identification and prevention of mosquito breeding spots. The answers were judged by Mr. Sunil Raut, Divisional Manager - PCI and chocolates were distributed to all participants for their enthusiastic response.

On the culmination of the program, Mr. Sarangpani, PCI handed over 10 Kgs of Roban® cake, the easy-to-use rodenticide, as a complementary gift to the local federation members, to combat the rat infestation. They were also assured of a visit from the PCI team after 15 days to monitor the progress and effect of the treatment. The organizing team consisted of Ms. Del DeSouza and Mrs. Neeta Chalke Of SRS while the PCI team comprised Mr. Siddharth Sarangpani – DM, Mr. Sunil Raut – DM, Mr. Dinesh Patil – DM, Mr. Mahesh Tamhankar – BM, Mr. Rupesh Doifode - BM, Mr. Pankaj Babhulkar, Mr. Sameer Surkund – Manager, Mr. Rajendra Patil and Mr. Bhikaji Ranmale. Overall coordinator was Mr. Nikhil Chatterjee, GM.

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. 39.36
UK Pound	1	Rs. 80.31
Euro	1	Rs. 57.79

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
--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 EXPLANATIONS

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.	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
NR		In view of the lack of information, we have no basis upon which to recommend credit dealings	No Rating

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