MIRA INFORM REPORT

Report Date :

27.11.2007

IDENTIFICATION DETAILS

Name :	PRAYAG POLYTECH PRIVATE LIMITED
Registered Office :	C-587, Phase 1 Bhiwadi Industrial Area, Bhiwadi, Rajasthan
Country :	India
Financials (as on) :	31.03.2007
Date of Incorporation :	16.08.1982
Com. Reg. No.:	17-12328
CIN No.: [Company Identification No.]	U28994RJ1982PTC012328 (New) U28994DL1982PTC014180 (Old)
TAN No.: [Tax Deduction & Collection Account No.]	DELP04146C
Legal Form :	Private Limited Liability Company.
Line of Business :	The company is engaged in manufacturing of Inorganic Coloring Material, Polypropylene Compounds and Organic Coloring Materials

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 250000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Financial position is moderate. Trade relations are fair. Payments are reported as slow but correct. The company can be considered for small to mediocre business dealings at usual trade terms and conditions.

LOCATIONS

Registered Office :	C-587, Phase 1, Bhiwadi Industrial Area, Bhiwadi, Rajasthan, India
Tel. No.:	91-1493-224482
Fax No.:	91-1493-224483
E-Mail :	prayag@del2.vsnl.net.in

DIRECTORS

Name :	Mr. Ravinder K Aggarwal
Designation :	Director
Address :	B/74, south City – I, Gurgoan, Haryana
Date of Birth/Age :	17.04.1950
Date of Appointment :	29.11.1984
Name :	Mr. Kamal Kumar Aggarwal
Designation :	Director
Address :	501, Mantola, Pahar Kanj, New Delhi-110055
Date of Birth/Age :	05.01.1957
Date of Appointment :	16.08.1982
Name :	Mr. Pradeep KR Gupta
Designation :	Director
Name :	Mr. Nikunj Aggarwal
Designation :	Director
Address :	2404-05, Tilak Street, Paharganj, New Delhi – 110055, India
Date of Birth/Age :	26.09.1981
Date of Appointment :	30.12.2006
Name :	Mr. Parul Aggarwal
Designation :	Director
Address :	B 74, South City 1, Gurgaon – 122001, Haryana, India
Date of Birth/Age :	22.08.1975
Date of Appointment :	30.12.2006

KEY EXECUTIVES

Name :	Mr. M P Gupta
Designation :	Company secretary

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

Names of Shareholders	No. of Shares
R K Agarwal	106550
V K Aggarwal	81925
D K Aggarwal	297925
K K Aggarwal	326450
Shashi Bala Aggarwal	20400
Urmila Aggarwal	16800
R K Aggarwal	3000
M R Aggarwal (Karta)	60200
V K Aggarwal (Karta)	138200
B M Aggarwal (Karta)	100200
R K Aggarwal (Karta)	40200
D K Aggarwal (Karta)	30200
Manish Aggarwal	20200
Shanti Devi Aggarwal	50000
Nikhil Aggarwal	12700
Nupur Aggarwal	15200
Nitin Aggarwal	15200
Deepax Kr. Aggarwal	20200
Shaveta Aggarwal	15200
Pankuri Aggarwal	10200
Anil Aggarwal (Karta)	220100
Lalit Aggarwal	313800
Pawan Kumar Aggarwal	90000
Prayag Molding private limited	109000
Kamal Aggarwal (Karta)	113000
Pawan Kumar Aggarwal (Karta)	65000
Anil Aggarwal (Karta)	120000
Lalit Aggarwal (Karta)	183000
Prayag Thermoplastic Private Limited	34000
Savitri Devi Aggarwal	70000
Milan Aggarwal	70000
Prayag Polymers Private Limited	107000
Prayag Tubes Private Limited	28000
Total	2903850
Equity Shares Break-up	Percentage of Holding
Category
Bodies corporate	1.70
Directors or relatives of directors	98.30
Total	100.00

BUSINESS DETAILS

Line of Business :

The company is engaged in manufacturing of Inorganic Coloring Material, Polypropylene Compounds and Organic Coloring Materials

Products :

Product Description	Item Code no. (ITC Code)
Inorganic Coloring Material	3206
Polyproplene Compounds	3902
Organic Coloring Materials	3204
Colour Master Batch Inorganic	3206.90
Colour Master Batch Organic	3204.19
LD Compounds	3901.00
PP Compounds	3902.10

PRODUCTION STATUS

Particulars	Unit	Installed Capacity
Polymers of Master Batches and Compounds	MT	2061
Filled Polypropylene	Kg.	NA
Colour Master Batches	Kg.	NA
Additive Master Batches	Kg.	NA
Scrap Material	Kg.	NA

GENERAL INFORMATION

No. of Employees :	About 120
Bankers :	Canara Bank, H-54, Connaught Circus, New Delhi ICICI Bank ABN Amro bank

Banking Relations :	Satisfactory
Auditors :
Name :	SPMG and Company Chartered Accountants
Address :	1408 /21 and 22, Tilak Bazar, Delhi-110006, India
Tel. No.:	91-11-23976094
Website:	http://www.smpgindia.com
Associates/Subsidiaries :	Nil

CAPITAL STRUCTURE

Authorised Capital :

No. of Shares	Type	Value	Amount
3000000	Equity Shares	Rs. 10/- each	Rs.30.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2903850	Equity Shares	Rs. 10/- each	Rs. 29.038 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2007	31.03.2006
SHAREHOLDERS FUNDS
1] Share Capital		29.038	29.038
2] Share Application Money		15.550	16.736
3] Reserves & Surplus		17.569	10.001
4] (Accumulated Losses)		0.000	0.000
NETWORTH		62.157	55.775
LOAN FUNDS
1] Secured Loans		54.623	50.505
2] Unsecured Loans		16.124	12.099
TOTAL BORROWING		70.747	62.604
DEFERRED TAX LIABILITIES
TOTAL		132.904	118.379
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		38.116	27.754
Capital work-in-progress		0.000	0.000
INVESTMENT		0.000	0.000
DEFERREX TAX ASSETS		2.336	3.537
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	56.967	47.162
	Sundry Debtors	53.063	57.134
	Cash & Bank Balances	4.107	3.314
	Other Current Assets	0.000	0.000
	Loans & Advances	19.367	11.311
Total Current Assets		133.504	118.921
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	39.861	31.297
	Provisions	2.641	1.286
Total Current Liabilities		42.502	32.583
Net Current Assets		91.002	86.338
MISCELLANEOUS EXPENSES		1.450	0.750
TOTAL		132.904	118.379

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2007	31.03.2006
Sales Turnover	130.000	100.000

KEY RATIOS

PARTICULARS	31.03.2007	31.03.2006
Debt Equity Ratio (Total Liability/Networth)	1.82	1.71
Current Ratio (Current Asset/Current Liability)	3.14	3.65

LOCAL AGENCY FURTHER INFORMATION

The company was originally incorporated on 16^th August, 1982 at New Delhi having company Registration No. 55-14180 later, the company shifted office to Rajasthan w.e.f. 11^th July 1996 and a new Company Registration No. 17-12328 of Rajasthan ROC was obtained.

Old Register office

Address :	2468 Nalwa Street, Phar Ganj, New Delhi 110055
Telephone :	91-11-23583773 / 3523773
Fax :	91-11-23588154 / 3543773

Fixed Assets :

Ø Land and Bhiwadi

Ø Factory building

Ø Plant and Machinery

Ø Electric Installation

Ø Vehicles

Ø Fax Machinery

Ø Furniture

Ø Computers and peripherals

Ø Electric Machinery

Ø Paper

Ø Weighting Machine

Ø Library Books

Ø Vacuum Cleaner

Ø Vacuum Pump

Ø Dies and Moulds

Ø Mobile Phone

Ø Fire Control Equipments

Ø Epabx

Ø Sprinkler Set

Prayag Polytech is a young ,dynamic company that is among the fastest growing names in the field of masterbaches in India. Promoted in 1996, by entrepreneurs with substantial on-line experience of the plastic industry. Prayag Polytech is powered by a prolonged commitment to excellence, uncompromising quality and repeated consistency, complemented by total reliable customer support

ERP 

Web Site Solutions

Industrial Relations :

The management is vigilant towards employees and workers welfare. The relations with employees were cordial and an atmosphere of understanding prevailed throughout the year. The schemes of PF, ESI, Gratuity and superannuating were implemented during the year.

Bankers Charges Report as per Registry

Name of the company	Pratag Polytech Private Limited
Presented By	Canara Bank, H-54, Connaught Circus, New Delhi
1) Date and description of instrument creating the change	Counter Indemnity letter dated 13.02.2004 Agreement Rs: Collateral Security: Machinery: Vehicles dated 13.2.2004 and letter evidencing extension of estimable mortgage along with schedule A and E dated 13.02.2004
2) Amount secured by the charge/amount owing on the securities of charge	Rs. 2.000 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	All plant, Machinery, Motor Vehicles, tools and accessories already purchased as described in Annexure to Schedule A of the purchased finished later exacted to be erected/kept/ to be kept or in transit for being exacted/to the premises of the borrower situated at c-587 Industrial Area, Phase – I, Bhiwadi, Rajasthan or whatever it may be. Equitable mortgage by deposits of title deeds in respect of company’s immovable property immovable property situate at C-589 , industrial Area, Bhiwadi, Rajasthan admeasuring 8980 sq. ft. together with all building, structures, fixture, fittings machineries standing installed thereon the and to be exected installed and put up in future other terms and conditions remained the same.
4) Gist of the terms and conditions and extent and operation of the charge.	The above is to secure all amount payable under FDR limit of Rs. 2.000 millions granted to the company by together with all interest costs charges, expenses, commission payable on demand.
5) Name and Address and description of the person entitled to the charge.	Canara Bank H-54, Connaught Circus, New Delhi
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	Pratag Polytech Private Limited
Presented By	Canara Bank, H-54, Connaught Circus, New Delhi
1) Date and description of instrument creating the change	20.02.97 Registered on 18.03.97 Agreement
2) Amount secured by the charge/amount owing on the securities of charge	Rs. 3.000 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	Hypothecation of the following The whole of the Borrowers present and future stocks of raw materials, goods in process of manufacture and all finished and manufactured goods and articles such as engineering polymers, specialty compound bleeds and performance master batches, together with all store components and spares which now belong to or may hereafter from time to time during the continuance of this security belong to the borrower and which are or shall or may be brought into, stored or be in or shall or may be brought into stored or be in or upon or about the borrowers factory Godown and or other premises at C-587, Industrial area, Briwadi – 301019 or wherever else the same many be. All the borrower present and future book debts, outstanding, money receivables claims bills rights to or in movable properties and movable assets and which are now due, owing or payable or belonging to the borrower.
4) Gist of the terms and conditions and extent and operation of the charge.	The interest on Cash credit Limit shall be charged at the rate of 7 % per annum over RbI rate subject to a minimum of 19 % rate as may be spitted by the bank for time to time.
5) Name and Address and description of the person entitled to the charge.	Canara Bank H-54, Connaught Circus, New Delhi
6) Date and brief description of instrument modifying the charge	7/10/2003 Supplemental Agreement Previously modified from time to time and finally modified on 5/09/2003 to ennance the Limit from Rs. 12.000 millions to Rs. 14.000 millions
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.	The OCC Limit stands enhanced from Rs. 16.000 millions To Rs. 16.000 millions The rage of interest shall now be charged as may be prescribed by the bank from time to time. Other terms and conditions remained the same.
Name of the company	Pratag Polytech Private Limited
Presented By	Canara Bank, H-54, Connaught Circus, New Delhi
1) Date and description of instrument creating the change	Hypothecation Agreement for packing credit advance dated 25.03.2004
2) Amount secured by the charge/amount owing on the securities of charge	Rs. 2.000 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	Hypothecation of stock of all goods and commodities now lying or hereafter stored at company’s gowns, yards and premises in Bhiwadi or at any other place including those in transit.
4) Gist of the terms and conditions and extent and operation of the charge.	The above is to secure all amount payable under a packing credit limit of Rs. 2.000 millions granted to the company together with interest @ 8 % P.A. compounded monthly for the confessional period of 30 days In case of default interest shall be payable @ 14.50 % p.a. compounded monthly Margin: 25 % or as may be stipulated by the bank from time to time. Payable on demand.
5) Name and Address and description of the person entitled to the charge.	Canara Bank H-54, Connaught Circus, New Delhi
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	Pratag Polytech Private Limited
Presented By	Canara Bank, H-54, Connaught Circus, New Delhi
1) Date and description of instrument creating the change	20.02.97 Registered on 18.03.97 Agreement. Modified on 20.2.97 and modification revision on 18.03.97 for terms and conditions. Further modified on 28.05.99 and modification regd. On 28.05.99 for Rs. 4.000 millions
2) Amount secured by the charge/amount owing on the securities of charge	Rs. 3.000 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	Hypothecation of the following The whole of the Borrowers present and future stocks of raw materials, goods in process of manufacture and all finished and manufactured goods and articles such as engineering polymers, specialty compound bleeds and performance master batches, together with all store components and spares which now belong to or may hereafter from time to time during the continuance of this security belong to the borrower and which are or shall or may be brought into, stored or be in or shall or may be brought into stored or be in or upon or about the borrowers factory Godown and or other premises at C-587, Industrial area, Briwadi – 301019 or wherever else the same many be. All the borrower present and future book debts, outstanding, money receivables claims bills rights to or in movable properties and movable assets and which are now due, owing or payable or belonging to the borrower.
4) Gist of the terms and conditions and extent and operation of the charge.	The interest on Cash credit Limit shall be charged at the rate of 7 % per annum over RbI rate subject to a minimum of 19 % rate as may be spitted by the bank for time to time.
5) Name and Address and description of the person entitled to the charge.	Canara Bank H-54, Connaught Circus, New Delhi
6) Date and brief description of instrument modifying the charge	Supplemental Agreement 29/10/99
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.	The cash credit limit stands enhanced from Rs. 4.000 millions to Rs. 6.000 millions. The rate of interest shall now be charged @ 9.36 % over RBI rate with a minimum of 18.36 % p.a. compounded quarterly. Other terms and conditions remains unchanged.
Name of the company	Pratag Polytech Private Limited
Presented By	Canara Bank, H-54, Connaught Circus, New Delhi
1) Date and description of instrument creating the change	Letter evidencing extension of equitable mortgage alongwith schedule A and B dated 25.03.2004 and counter Indemnity letter of negotiation Purchase discount of Bills dated 25.03.2004
2) Amount secured by the charge/amount owing on the securities of charge	Rs. 6.000 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	Equitable mortgage by deposit of title deeds in respect of company’s immovable property situated at C-587, Industrial area, Briwadi – 301019 Measuring 8980 sq,. mt. Including all building thereon and super structures thereat.
4) Gist of the terms and conditions and extent and operation of the charge.	The above is to secure all mount FBE single transaction limit of Rs. 6.000 millions granted to the company together with all interest, costs, charge, expenses, commission etc. The equitable mortgage of the above landed properties as collateral secutiry is available to the bank for a total of Rs. 0.289 millions including the above FBE limit of Rs. 6.000 millions
5) Name and Address and description of the person entitled to the charge.	Canara Bank H-54, Connaught Circus, New Delhi
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	Pratag Polytech Private Limited
Presented By	Canara Bank, H-54, Connaught Circus, New Delhi
1) Date and description of instrument creating the change	Counter Indemnity letter dated 13.02.2004 Agreement Rs: Collateral Security: Machinery: Vehicles dated 13.2.2004 and letter evidencing extension of estimable mortgage along with schedule A and E dated 13.02.2004
2) Amount secured by the charge/amount owing on the securities of charge	Rs. 2.000 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	All plant, Machinery, Motor Vehicles, tools and accessories already purchased as described in Annexure to Schedule A of the purchased finished later exacted to be erected/kept/ to be kept or in transit for being exacted/to the premises of the borrower situated at c-587 Industrial Area, Phase – I, Bhiwadi, Rajasthan or whatever it may be. Equitable mortgage by deposits of title deeds in respect of company’s immovable property immovable property situate at C-589 , industrial Area, Bhiwadi, Rajasthan admeasuring 8980 sq. ft. together with all building, structures, fixture, fittings machineries standing installed thereon the and to be exected installed and put up in future other terms and conditions remained the same.
4) Gist of the terms and conditions and extent and operation of the charge.	The above is to secure all amount payable under FDR limit of Rs. 2.000 millions granted to the company by together with all interest costs charges, expenses, commission payable on demand.
5) Name and Address and description of the person entitled to the charge.	Canara Bank H-54, Connaught Circus, New Delhi
6) Date and brief description of instrument modifying the charge	Letter evidencing extension of equitable mortgage alongwith schedule A and B dated 28.03.2005 and counter Indemnity letter fo negotiation Purchase discount of Bills dated 28.03.2005
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.	The above is to secure all mount FBE single transaction limit of Rs. 6.000 millions granted to the company together with all interest, costs, charge, expenses, commission etc. The equitable mortgage of the above landed properties as collateral secutiry is available to the bank for a total of Rs. 0.289 millions including the above FBE limit of Rs. 6.000 millions Other terms and conditions remains unchanged.
Name of the company	Pratag Polytech Private Limited
Presented By	Canara Bank, H-54, Connaught Circus, New Delhi
1) Date and description of instrument creating the change	20.02.97 Agreement. Modified on 20.2.97
2) Amount secured by the charge/amount owing on the securities of charge	Rs. 3.000 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	Hypothecation of the following The whole of the Borrowers present and future stocks of raw materials, goods in process of manufacture and all finished and manufactured goods and articles such as engineering polymers, specialty compound bleeds and performance master batches, together with all store components and spares which now belong to or may hereafter from time to time during the continuance of this security belong to the borrower and which are or shall or may be brought into, stored or be in or shall or may be brought into stored or be in or upon or about the borrowers factory Godown and or other premises at C-587, Industrial area, Briwadi – 301019 or wherever else the same many be. All the borrower present and future book debts, outstanding, money receivables claims bills rights to or in movable properties and movable assets and which are now due, owing or payable or belonging to the borrower.
4) Gist of the terms and conditions and extent and operation of the charge.	The interest on Cash credit Limit shall be charged at the rate of 7 % per annum over RbI rate subject to a minimum of 19 % rate as may be spitted by the bank for time to time.
5) Name and Address and description of the person entitled to the charge.	Canara Bank H-54, Connaught Circus, New Delhi
6) Date and brief description of instrument modifying the charge	Supplemental Agreement 29/10/99 Previously modified20.02.97,20.02.97, 28.05. 99 from time to time and finally modified on 11.01.2000 to ennance the Limit from Rs. 12.000 millions
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.	The cash credit limit stands enhanced from Rs. 8.000 millions Shall also accrued by way of plant and machinery as on 12.01.2000 enclosed to schedule A of this agreement. Other terms and conditions remains unchanged.
Name of the company	Pratag Polytech Private Limited
Presented By	Canara Bank, H-54, Connaught Circus, New Delhi
1) Date and description of instrument creating the change	Cash credit Agreement dated 20.02.97 regd. On 18.03.97 modified on 20.02.97 20.02.97/ 28.05.99/ 28.05.99/29.10/99/ 11.01.2000/13.02.2004 and finally on 13.02.2004 of collateral securities fo plant and machinery motor vehicles and tools and accessories and equitable mortgage of immobile properties of the company situated at C-589 , industrial Area, Bhiwadi, Rajasthan admeasuring 8980 sq. ft.for cash credit limit of Rs. 16.000 millions with ODRD as a sublimit of Rs. 8.000 millions last modification regd. On 236.03.2004 and again modificated on 28.03.2005 to enhance cash credit limit to Rs. 25.000 millions
2) Amount secured by the charge/amount owing on the securities of charge	Rs. 3.000 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	Hypothecation of the following The whole of the Borrowers present and future stocks of raw materials, goods in process of manufacture and all finished and manufactured goods and articles such as engineering polymers, specialty compound bleeds and performance master batches, together with all store components and spares which now belong to or may hereafter from time to time during the continuance of this security belong to the borrower and which are or shall or may be brought into, stored or be in or shall or may be brought into stored or be in or upon or about the borrowers factory Godown and or other premises at C-587, Industrial area, Briwadi – 301019 or wherever else the same many be. All the borrower present and future book debts, outstanding, money receivables claims bills rights to or in movable properties and movable assets and which are now due, owing or payable or belonging to the borrower.
4) Gist of the terms and conditions and extent and operation of the charge.	The interest on Cash credit Limit shall be charged at the rate of 7 % per annum over RbI rate subject to a minimum of 19 % rate as may be spitted by the bank for time to time.
5) Name and Address and description of the person entitled to the charge.	Canara Bank H-54, Connaught Circus, New Delhi
6) Date and brief description of instrument modifying the charge	Counter Indemnity letter dated 13.02.2004 Agreement Rs: Collateral Security: Machinery: Vehicles dated 28.03.2005 and letter evidencing extension of estimable mortgage along with schedule A and E dated 28.03.2005
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.	The above is to secure all mount FBE single transaction limit of Rs. 6.000 millions granted to the company together with all interest, costs, charge, expenses, commission etc. The equitable mortgage by deposit of title deeds in respect of company’s immovable properties at C-587, Industrial area, Briwadi – 301019 together with all building, structures, fixture, fittings machineries standing installed thereon the and to be exected installed and put up in future other terms and conditions remained the same. Other terms and conditions remains unchanged.
Name of the company	Pratag Polytech Private Limited
Presented By	Canara Bank, H-54, Connaught Circus, New Delhi
1) Date and description of instrument creating the change	Hypothecation agreement for packing credit advance dated 26.04.2005 and letter evidencing of equitable mortgage alonfgwith schedule A and B dated 26.04.2005
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	Hypothecation of stock of all goods and commodities now lying or hereafter stored at company’s gowns, yards and premises in Bhiwadi or at any other place including those in transit. Collaterally secured by equitable mortgage of immovable properties at C-587, Industrial area, Briwadi – 301019 together with all building, structures, fixture, fittings machineries therein or to be brought therein.
4) Gist of the terms and conditions and extent and operation of the charge.	The above is to secure all amount payable under a packing credit limit of Rs. 2.000 millions granted tio the company together with interest @ 8 % P.A. compounded monthly for the confessional period of 30 days In case of default interest shall be payable @ 14.50 % p.a. compounded monthly Margin: 25 % or as may be stipulated by the bank from time to time. Payable on demand.
5) Name and Address and description of the person entitled to the charge.	Canara Bank H-54, Connaught Circus, New Delhi
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	Pratag Polytech Private Limited
Presented By	Canara Bank, H-54, Connaught Circus, New Delhi
1) Date and description of instrument creating the change	Hypothecation agreement for packing credit advance dated 26.04.2005 and letter evidencing of equitable mortgage alonfgwith schedule A and B dated 26.04.2005
2) Amount secured by the charge/amount owing on the securities of charge	Rs. 4.400 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	Equitable mortgage of immovable properties at C-587, Industrial area, Briwadi – 301019 together with all building, structures, fixture, fittings machineries therein or to be brought therein.
4) Gist of the terms and conditions and extent and operation of the charge.	The above is to secure all mount FBE single transaction limit of Rs. 4.400 millions granted to the company together with all interest, costs, charge, expenses, commission etc Payable on demand.
5) Name and Address and description of the person entitled to the charge.	Canara Bank H-54, Connaught Circus, New Delhi
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

This form is for	Creation of charge
Corporate identity number of the company	U28994RJ1982PTC012328
Name of the company	PRAYAG POLYTECH PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	C-587, Phase 1 Bhiwadi Industrial Area, Bhiwadi, Rajasthan, India
Type of charge	Immovable Property Book Debts Movable Property Floating Charge
Particular of charge holder	Canara Bank H-54, Connaught Circus, New Delhi shahjindal@gmail.com
Nature of description of the instrument creating or modifying the charge	Deed of hypothecation machinery, letter evidencing deposit of title deed
Date of instrument Creating the charge	10.02.2007
Amount secured by the charge	Rs. 8.500 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest @ 11.50 % or at such rate as may be specified by the bank from time to time Terms of repayment The loan shall be repay in 12 quarterly installments of Rs. 0.700 Million and last installment of Rs. 0.100 Million. The first of such installment shall commence from May 2007 Margin : 25 % Extent operation of the charge : 100 % Others The above is to secure TL Limit
Short particulars of the property charged	Hypothecation of machinery to be purchased out of term loan i.e. one steer Omega S – 40 Twin screw extruder and k tron loss in weight feeders, EMT of property situated at E – 587, Industrial Area, Bhiwadi Rajasthan adm. 8990 sq. mtrs. Collateral security of all the stock and book debts and existing plant and machineries

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.39.77
UK Pound	1	Rs.82.45
Euro	1	Rs.58.94

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	4
FINANCIAL CONDITION		-
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--CREDIT LINES	1~10	4
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		38

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