MIRA INFORM REPORT

Report Date :

15.03.2008

IDENTIFICATION DETAILS

Name :	LOKMAT NEWSPAPERS LIMITED
Registered Office :	126, Mittal Tower, `B’ Wing, 12^th Floor, Nariman Point, Mumbai – 400 021, Maharashtra
Country :	India
Financials (as on) :	31.05.2002
Date of Incorporation :	21.06.1973
Com. Reg. No.:	11 -16613
CIN No.: [Company Identification No.]	U99999MH1973PTC016613
TAN No.: [Tax Deduction & Collection Account No.]	PNEL00507D / NGPL00282C
Legal Form :	Closely held Public Limited Liability Company
Line of Business :	Subject is engaged in printing and publishing of newspapers.

RATING & COMMENTS

MIRA’s Rating :

Ba

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

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

LOCATIONS

Registered Office :	126, Mittal Tower, `B’ Wing, 12^th Floor, Nariman Point, Mumbai – 400 021, INDIA
Tel. No.:	91-22-22856749 (4 Lines) / 22028211 / 25856749
Fax No.:	91-22-22028211
E-Mail :	dlokmat@bom3.vsnl.net.in companylaw@rediffmail.com devendarda@lokmat.com
Head Office :	Lokmat Bhavan, Pt. Jawaharlal Nehru Marg, P.O. No. 216, Nagpur – 440 012, Maharashtra, INDIA
Tel. No.:	91-712-2523 527 (10 lines)
Fax No.:	91-712-2526 923 / 2445555
E-mail:	lokmat@bom2.vsnl.net.in
Business Representatives:	Located at : Kolkata, Ahmedabad, Indore, Bhopal, Coimbatore, Lucknow, Jaipur and Baroda
Branches:	Nagpur LOKMAT/ LOKMAT SAMACHAR/ LOKMAT TIMES Lokmat Bhavan, Pt. J. Nehru Marg, Nagpur - 440 012
Tel. No.:	91-712-2423527
Fax No.:	91-712-2445555
E-Mail :	lokmat@bom2.vsnl.net.in
	Aurangabad DAINIK LOKMAT/LOKMAT SAMACHAR/LOKMAT TIMES Lokmat Bhavan, M.I.D.C. Area, Jalna Road, Aurangabad - 431 210
Tel. No.:	91-240-2486601 / 2485301
Fax No.:	91-240-2484130, 2485723
E-Mail :	dainiklokmat@sancharnet.in
	Mumbai DAINIK LOKMAT Prithvi Park, Near Datta Mandir, Mumbai-Pune Highway, Sector-30, Sanpada, Navi Mumbai - 400 705
Tel. No.:	91-22-27686888 /89/ 90
Fax No.:	91-22-27686845
E-Mail :	advtmum@lokmat.com
	Pune LOKMAT Lokmat Bhavan, Survey No-34/A, Vadgaon-Khurd, Sinhgad Road, Pune - 411 041
Tel. No.:	91-20-24393001-06
Fax No.:	91-20-24393008
E-Mail :	advtpune@lokmat.com
	Kolhapur DAINIK LOKMAT Lokmat Bhavan, Purnima Apartments, Near Sambhaji Bridge, Laxmi Puri, Kolhapur - 416 002
Tel. No.:	91-231-2641707/08/10/14
Fax No.:	91-231-2641716
E-Mail :	lokmatkolhapur@sancharnet.in
	Nashik LOKMAT Lokmat Bhavan, B-3, M.I.D.C. Area, Ambad, Nashik - 422 010
Tel. No.:	91-253-2385465-67
Fax No.:	91-253-2385293
E-Mail :	Lokmatnk_nsk@sancharnet.in
	Solapur DAINIK LOKMAT Lokmat Bhawan, Plot No. A-6/1, Chincholi Industrial Estate, Pune Road, Solapur - 413 255
Tel. No.:	91-217-2357555-58
Fax No.:	91-217-2357387
E-Mail :	lokmatsol@sancharnet.in
	Jalgaon LOKMAT Lokmat Bhavan, C-19, Addl. M.I.D.C. Area, Jalgaon - 425 003
Tel. No.:	91-257-2273013-17
Fax No.:	91-257-2273012
E-Mail :	jlokmat_jal@sancharnet.in
	Ahmednagar DAINIK LOKMAT Lokmat Bhavan, P.O. Box - 110, Ahmednagar - 414 001
Tel. No.:	91-241-2429711/2429902
Fax No.:	91-241-2411707
E-Mail :	dlnagar_anr@sancharnet.in
	Akola LOKMAT Lokmat Bhavan, N-01, Phase IV, MIDC Area, Kumbhari Road, Akola - 444 001
Tel. No.:	91-724-2258921-23
Fax No.:	91-724-2258663
E-Mail :	aklokmat@bom6.vsnl.net.in

DIRECTORS

Name :	Mr. Vijay Jawaharlal Darda
Designation :	Chairman & Managing Director
Address :	‘Yavatmal House’, Rahate Colony, Wardha Road, Nagpur - 440022, Maharashtra
Date of Birth/Age :	14.05.1950
Qualification :	Diploma in Printing Technology
Date of Appointment :	24.01.1974
Name :	Mr. Rajendra Jawaharlal Darda
Designation :	Director
Address :	Lokmat Bhavan, Jalna Road, Aurangabad
Date of Birth/Age :	21.11.1952
Date of Appointment :	28.08.1974
Name :	Mrs. Jyotsna Vijay Darda
Designation :	Director
Address :	‘Yavatmal House’, Rahate Colony, Wardha Road, Nagpur - 440022, Maharashtra
Date of Birth/Age :	18.06.1952
Date of Appointment :	21.05.1994
Name :	Mr. Devendra Vijay Darda
Designation :	Director
Address :	‘Yavatmal House’, Rahate Colony, Wardha Road, Nagpur - 440022, Maharashtra
Date of Birth/Age :	23.11.1974
Date of Appointment :	20.05.2002
Name :	Mr. Rishi Rajendra Darda
Designation :	Director
Address :	Lokmat Bhavan, Jalana Road, Aurangabad 431003, Maharashtra
Date of Birth/Age :	15.12.1978
Date of Appointment :	21.11.2001
Name :	Mr. Ramesh Sukhraj Bora
Designation :	Director
Address :	Plot No. 2, Purohit Layout, Ambazari, Nagpur – 440 010, Maharashtra
Date of Birth/Age :	02.11.1939
Date of Appointment :	19.11.2003

KEY EXECUTIVES

Name :	Mr. Nilesh Jain
Designation :	Practicing Company Secretary
Address :	Durgaia Road, Sadar, Nagpur – 440001
Tel No. :	91-712-2559431 / 2541739
Mobile No. :	91-9822461508

MAJOR SHAREHOLDERS

Names of Shareholders	No. of Shares
Mrs. Ushadevi J. Darda	2500
Mr. Vijay J. Darda	72500
Mrs. Veena J. Darda	147000
Mr. Rajendra J. Darda	72500
Mr. Asdhoo R. Darda	2500
Mrs. Jyotsna V. Darda	2500
Jawaharlal Darda (HUF)	100000
Darda Investments and Properties Private Limited	100500
Total	500000

Equity Shares Breakup (Percentage of Total Equity):

Sr No.	Category	Percentage
1	Directors or relative of directors	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in printing and publishing of newspapers.
Products :	Newspapers
Imports :
Products :	Raw materials and components & spare parts
Countries :	Europe
Terms :
Purchasing :	L/C

GENERAL INFORMATION

Suppliers :

Ø Bhandari Auto Limited

Ø Carrier Aircon Limited, Pune, Maharashtra

Ø C-Net Solutions Limited

Ø Damanganga Papers Limited, Vapi, Gujarat

Ø Gujarat Daily Newspaper Association

Ø International computers Limited

Ø Jay Rapid Roller Limited, Nashik

Ø Mahavir Commercial Company Private Limited

Ø Manugraph Industries Limited

Ø Many Enterprises Limited

Ø Mayar H. K. Limited

Ø Micropro Software Solutions Limited

Ø Multitech Computers Limited

Ø Newsprint Sales Corporation

Ø Newsprint Sales Corporation

Ø Sangal Paper Limited

Ø Simplex Mills Company Limited

Ø Sinhar Mars Pulp and Paper Limited

Ø State Trading Corporation of India

Ø The printer House, Delhi, India

Ø Vidarbh Paper Mills

Ø Yash Paper, Nagpur, Maharashtra, India

No. of Employees :

500

Bankers :

Ø Bank of India, Sitaburdi Branch, Mumbai - 400 002

Ø The Tirupati Urbam Co-operative Bank Limited, Mumbai

Ø State Bank of Mysore, Nagpur, Maharashtra

Ø Bank of India, Ahmedabad, Gujarat

Ø Bank of India, Akola, Maharashtra

Ø Bank of India, Aurangabad, Maharashtra

Ø Bank of India, Bhusawal, Maharashtra

Ø Bank of India, Bhandara, Maharashtra

Ø Bank of India, Dhule, Maharashtra

Ø Bank of India, Delhi

Ø Bank of India, Jalgaon, Maharashtra

Ø Bank of India, Malegaon, Maharashtra

Ø Bank of India, Mumbai

Ø Bank of India, Pune, Maharashtra

Ø Bank of India, Wardha, Maharashtra

Ø Bank of India, Yavatmal, Maharashtra

Ø Bank of India,

Nagpur Corporate Banking Branch,

S. V. Road Marg,

Nagpur

Facilities :

Secured Loan	31.05.2002 Rs. in Millions
From Bank
Cash Credit Account	58.300
Term Loans	20.115
Total	78.415

· Cash credit account is secured by Hypothecation of Stock in Trade, Stores and Book debts and Guarantee of Two Directors.

· Term Loan from Bank are secured by Charge and Hypothecation of Land, Building of Nashik unit, Plant and Machinery of Nashik, Akola and Pune Unit and Computers acquired from such loans and Guarantee of Two Directors.

Banking Relations :	Satisfactory
Auditors :
Name :	M. M. Jain & Associates Chartered Accountants
Address :	Shri Mohini, Kingsway, Nagpur - 440 001, Maharashtra
Associates/Subsidiaries :	Ø Darda Investments & Properties Private Limited Ø Sandeep Layout, Nagpur, Maharashtra, India Ø Jayshree Construction Company Ø Goldie Advertising and Marketing Services Private Limited Ø Prithvi Prakashan Private Limited Ø Bombay Welprint Ink Private Limited

CAPITAL STRUCTURE

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10 each	Rs. 10.000 Millions

Issued, Subscribed & Paid-up Capital (as on 31.05.2002):

No. of Shares	Type	Value	Amount
574600	Equity Shares	Rs.10 each	Rs. 5.746 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

FINANCIALS:

No subsequent financials could be available from any sources.

Management remained non – co-operative during current investigation.

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.05.2002	31.05.2001
SHAREHOLDERS FUNDS
1] Share Capital		5.000	5.000
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		297.090	202.324
4] (Accumulated Losses)		0.000	0.000
NETWORTH		302.090	207.324
LOAN FUNDS
1] Secured Loans		78.416	64.306
2] Unsecured Loans		0.000	0.000
TOTAL BORROWING		78.416	64.306
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		380.506	271.630
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		127.129	103.317
Capital work-in-progress		1.532	16.168
INVESTMENT		0.783	0.674
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	35.965	44.132
	Sundry Debtors	209.318	163.632
	Cash & Bank Balances	138.446	80.975
	Other Current Assets	6.628	4.601
	Loans & Advances	71.411	42.920
Total Current Assets		461.768	336.260
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	166.806	159.589
	Provisions	43.900	25.200
Total Current Liabilities		210.706	184.789
Net Current Assets		251.062	151.471
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		380.506	271.630

PROFIT & LOSS ACCOUNT

PARTICULARS		31.05.2002	31.05.2001
Sales Turnover		426.849	370.361
Other Income		322.567	283.390
Total Income		749.416	653.751
Profit/(Loss) Before Tax		113.466	[1.453]
Provision for Taxation		18.700	0.000
Profit/(Loss) After Tax		94.766	[1.453]
Expenditures :
	Newsprint and Stores Consumed	396.050	440.560
	Power & Fuel	8.417	8.604
	Payment to Employment	96.529	89.030
	Works and Operating Expenses	27.960	23.217
	Administrative and Establishment Expenses	43.482	33.071
	Selling and Distribution Expenses	31.768	29.722
	Interest and Bank Cheques	8.855	9.343
	Payment of Director	8.860	1.506
	Depreciation	18.996	16.892
	Other Expenditure	15.033	2.905
Total Expenditure		655.950	654.850

KEY RATIOS

PARTICULARS		31.05.2002	31.05.2001
PAT / Total Income	(%)	12.65	[0.22]
Net Profit Margin (PBT/Sales)	(%)	26.58	[0.39]
Return on Total Assets (PBT/Total Assets}	(%)	16.27	[0.33]
Return on Investment (ROI) (PBT/Networth)		0.38	[0.01]
Debt Equity Ratio (Total Liability/Networth)		0.96	1.20
Current Ratio (Current Asset/Current Liability)		2.19	1.82

LOCAL AGENCY FURTHER INFORMATION

Form 8

Bankers Charges Report as per Registry

This Form is for	Modification of charge
Charge identification number of the charge to be modified	NA
Corporate identity number of the company	U99999MH1973PTC016613
Name of the company	LOKMAT NEWSPAPERS LIMITED
Address of the registered office or of the principal place of business in India of the company	126, Mittal Tower, `B’ Wing, 12^th Floor, Nariman Point, Mumbai – 400 021, Maharashtra, India
Particular of charge holder	Bank of India Sitabuldi Branch, Sitabuldi, Nagpur 440010, Maharashtra, India E-mail: boincbb@dataone.in
Nature of description of the instrument creating or modifying the charge	Extension of equitable mortgage
Date of instrument Creating the charge	28.03.2007
Amount secured by the charge	Rs. 40.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	[a] Rate of interest 2.25% below BPLR i.e. MIN 9.75% [b] Terms of repayment on demand [c] Margin Stock : indigenous:25% Imported : 10% [d] Extent and operation of the charge The charge operate as a security on the immovable properties of the company
Short particulars of the property charged	Extension of equitable mortgage of land, building, sheds and strictures, plant and machinery and fixtures [both present and future] situated at Plot No. B-3, in the additional Nashik Industrial area, within the limits of Nashik Municipal Corporation, Taluka Nashik, District Nashik, Admeasuimg 11369 Sq. mtrs.
Date of latest modification prior to the present modification	13.03.2007
Particulars of the present modification	Extension of equitable mortgage to cover additional cash credit [stock] facilities of 7.000 Millions i.e. cash credit – stock facilities increased from Rs. 33.000 Millions to Rs. 40.000 Millions. Thus total cash credit [stock and book debts] limit stand at Rs. 140.000 Millions

Name of the company	LOKMAT NEWSPAPERS PRIVATE LIMITED
Presented By	Bank of India, Nagpur Corporate Banking Branch, S. V. Road Marg, Nagpur
1) Date and description of instrument creating the change	Agreement of hypothecation of plant and machinery stored and book debts dated 19.11.2003
2) Amount secured by the charge/amount owing on the securities of charge	Term loan Rs. 282.000 Millions
3) Gist of the terms and conditions and extent and operation of the charge.	Interest: 3.5% below BOIPLT min. 8 % p.a. Margin 25 % Repayment : in five annual installment commencing from 31.05.2005
4) Name and Address and description of the person entitled to the charge.	Bank of India, Nagpur Corporate Banking Branch, S. V. Road Marg, Nagpur
5) Date and brief description of instrument modifying the charge	Deed of modification dated 08.07.2004
6) 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 this modification additional outstanding amount of Rs. 34.966 Millions is converted into 772918 US Dollars. Rate of interest : 300 bps over 12 months/6 months LIBOR

Name of the company	LOKMAT NEWSPAPERS PRIVATE LIMITED
Presented By	Bank of India, Nagpur Corporate Banking Branch, S. V. Road Marg, Nagpur
1) Date and description of instrument creating the change	Agreement of hypothecation of plant and machinery stored and book debts dated 19.11.2003
2) Amount secured by the charge/amount owing on the securities of charge	Term loan Rs. 282.000 Millions
3) Gist of the terms and conditions and extent and operation of the charge.	Interest: 3.5% below BOIPLT min. 8 % p.a. Margin 25 % Repayment : in five annual installment commencing from 31.05.2005
4) Name and Address and description of the person entitled to the charge.	Bank of India, Nagpur Corporate Banking Branch, S. V. Road Marg, Nagpur
5) Date and brief description of instrument modifying the charge	Supplemental deed of hypothecation dated 15.11.2004
6) 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 this modification the bank has sanctioned additional Term Loan of Rs. 100 Millions Repayment : In 5 annual, installment commencing from 31.05.2006 Interest 2.25 % below BOI PTLR minimum 8.5 %

Corporation identity number or foreign company registrations number of the company	U99999MH1973PTC016613
Name of the company	LOKMAT NEWSPAPERS LIMITED - ONDD
Address	126, Mittal Tower, `B’ Wing, 12^th Floor, Nariman Point, Mumbai – 400 021, Maharashtra
This Form is for	Modification of charge
Type of Charges	· Immovable property · Movable property
Particular of the charge holder	Bank of India Address: Sitaburdi Branch, Sitaburdi, Nagpur – 440 010, Maharashtra, India Email ID: boincbb@dataone.in
Nature or description of the instrument creating charge	Extension of the equitable mortgage
Date of the instrument creating charge	28.03.2007
Amount Secure by the charge	Rs. 140.000 millions
Brief of the principal terms and conditions and extent and operation of the charge	Rate of interest: 2.25% below BPLR i.e 9.75% Terms of repayment: On demand Margin: Raw material: Imported : 10% : Indigineous : 25% Book debts upto 90 days Above 90-180days :50% Extent and operation of the charge: The charge operates as a security on the immovable properties of the company.
Shorts particulars of the Property charged	Extension of the equitable mortgage of land, building, sheds and structures, plant and machinery and fixtures, (both present and future) situated at plot No. B -3, in the additional Nasik industrial area, within the limits of Nasik municipal corporation taluka Nasik, districts Nasik admeasuring 11369 sq.mtrs.
Particulars of the present modification	Extension of equitable mortgage to cover additional cash credit limit of Rs. 40.000 millions Thus total cash credit limit stands at Rs. 140.000 millions.

Name of the company	LOKMAT NEWSPAPERS LIMITED
Presented By	Bank of India, Nagpur corporate Banking Branch, S V Patel Marg, Nagpur
1) Date and description of instrument creating the change	Agreement of hypothecation of plant and machinery stocks and book debts dated 19^th November 2003
2) Amount secured by the charge/amount owing on the securities of charge	Term loan : Rs. 282.000 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	As per annexure
4) Gist of the terms and conditions and extent and operation of the charge.	Interest : 3.5% p.a below BOIPTLR minimum 8% p.a Margin : 25% Repayment: In five installment commencing from 31.05.2005
5) Name and Address and description of the person entitled to the charge.	Bank of India Nagpur Corporate Banking Branch, S v pastel Marg, Nagpur
6) Date and brief description of instrument modifying the charge	Deed of modification dated 14.12.2004 Letter from bank dated 14.12.2004
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.	Reconversion of 3485839 US Dollars into rupees term loan Conversion of Rs. 128.723 millions into 2864347 US dollar (foreign currency loan) Rate of interest: 300 BPS over 12 months LIBOR

Name of the company	LOKMAT NEWSPAPERS LIMITED
Presented By	Bank of India, Nagpur corporate Banking Branch, S V Patel Marg, Nagpur
1) Date and description of instrument creating the change	Agreement of hypothecation of plant and machinery stocks and book debts dated 19^th November 2003
2) Amount secured by the charge/amount owing on the securities of charge	Term loan : Rs. 282.000 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	As per annexure
4) Gist of the terms and conditions and extent and operation of the charge.	Interest : 3.5% p.a below BOIPTLR minimum 8% p.a Margin : 25% Repayment: In five installment commencing from 31.05.2005
5) Name and Address and description of the person entitled to the charge.	Bank of India Nagpur Corporate Banking Branch, S v pastel Marg, Nagpur
6) Date and brief description of instrument modifying the charge	Deed of modification dated 19.02.2005 Deed of modification dated 19.02.2005
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.	Reconversion of 1919613 US Dollars into rupees term loan and Conversion of Rs. 56.980 millions out of 282.000 millions term loans into 13.15.494 USD. Rate of interests: -300 Bps over 12 months LIBOR And Conversion of Rs. 580.364 millions out of additional Rs. 100.000 millions term loan into 1150000 USD Rate of interests: 300 BPs over 6 months LIBOR Rate of interest: 300 BPS over 12 months LIBOR

The company's fixed assets of important value include:-

· Land,

· Building,

· Plant & Machinery,

· Furniture & Fixtures,

· Vehicles And

· Data Processing Equipments.

OTHER INFORMATION:

The company has its own large printing press and buildings.

Subject is publishers of

Ø Lokmat : from Nagpur, Jalgaon, Aurangabad,

Ø Lokmat Samachar : Nasik, Ahmednagar and Solapur

Ø Lokmat Times : all in Maharashtra State

The company has earned a remarkable net profit of Rs. 113.466 millions as compared to a loss of Rs. 1.098 millions during the previous year due to increased operational efficiency.

The company has a deemed public company upto 6^th March 2002. the company was concerted into a private limited company w.e.f. 7^th March 2002.

AS PER WEBSITE DETAILS

PROFILE

THE BEGINNING

Subject was conceptualized and started by Loknayak Bapuji Aney as a weapon to fight the British imperialism during the freedom movement of India. The name 'Lokmat' was given by the great freedom fighter and literary person Bal Gangadhar Tilak ("Freedom is my birth right and I shall have it") when the publication was first started as a handwritten newspaper from Yavatmal, then a little known town in Maharashtra.

Inspired by the great luminaries of the freedom movement, Late Shri Jawaharlal Darda took over this fortnightly published newspaper in 1953. The former Prime Minister of India, Pt. Jawaharlal Nehru formally inaugurated Lokmat as a daily publication in 1958 at Yavatmal and on December 15th 1971, the first full fledge edition was started from Nagpur, the winter capital of one of India's largest and most affluent states - Maharashtra. From its humble beginning in 1971, the publication eventually emerged as the No.1 circulated and read daily of Maharashtra reaching every corner of the state and catering to the news and entertainment needs of millions of its readers everyday.

THE JOURNEY

Under the dynamic leadership of Shri Jawaharlal Darda and his sons Vijay and Rajendra, Lokmat achieved a meteoric rise in the late 80s and the 90s by focusing on the needs of the readers. Highest standards in journalism, quality in every field of the business, cutting edge technology and a national network of some of the most talented journalist catapulted Lokmat to the forefront of Maharashtra's journalism

Over the years several new editions were added including newspapers in Hindi and English languages. Lokmat today is the 4th largest read newspaper in the country (National Readership Survey 2006) having a readership of 10.85 million people every day

LOKMAT COMMUNITY INITIATIVES

Lokmat firmly believes that a newspaper is the best medium of social service and a powerful tool for educating masses, because of its easy accessibility, availability and low cost.

They religiously stick to their beliefs and ideals by undertaking various activities for the benefit of their readers and the society at large.

Under the umbrella of Lokmat Community Initiatives, several forums have been launched, which are trying to address the issues and problems of various sections and classes of the society.

To learn more about Lokmat’s Community Initiatives, click on the links to the left

SAKHI MANCH

Current members: 114,429

Women's emancipation or empowerment is fashionable catchwords. These are always good in intent. But more often than not, they remain out of the elusive grasp of the work-a-day lady homebuilder. She, the one who has to toil relentlessly without any hope for reward or recognition, simply remains tied down to the tedium. No one has a forum that recognizes her every day contribution.

The passion to develop the personalities of her children always takes precedence over her own desire to learn and acquire new skills or to entertain self. Making endless sacrifices for her family comes naturally to her. Yet, at the end of the day, the unfulfilled desires and ambitions make her slightly disillusioned with life.

Sakhi Manch has identified this personal dilemma. It is striving to understand her deep-rooted desire to carve a niche for herself. Sakhi Manch has been attempting to bring her out of this serious identity crisis so that she can discover her true self.

Sakhi Manch regularly undertakes workshops on health, beauty, cooking, parenting, music and drama, personality development, career development as well as variety of entertainment events every month. It also organizes foreign and domestic trips for its large membership thereby promoting interactivity, networking and social harmony.

Yuva Manch

Current members: 24,669

The spirit of Chhatrapati Shivaji and the attitude of Sachin Tendulkar. Adventurer at heart with tons of self-belief. Love Vada Pav but also enjoy sushi. Celebrate Ganesh Chaturthi while worshiping IT. At home in Amravati as well as in Atlanta. Defy stereotypes. Represent the thousands who are redefining Maharashtra.

They have made them the No.1 newspaper of India's No.1 state. Because they share their determination to cast the future in an excitingly different mould. Lokmat's Yuva Manch is a forum for the youth where thousands of young and creative minds come together and exploit their creativity and talent.

Yuva Manch is spread across the colleges of Maharashtra where several activities are undertaken every month related to topics of interest to the youth. From social issues to entertainment and talent, Yuva Manch provides something for every youth.

BAL VIKAS MANCH

Current members: 43,432

Tomorrow's Tilak, Tendulkar and Nana Patekar. They are all over Maharashtra waiting to be discovered and nurtured. For in them lie the seeds of a new Maharashtra. Yes, someday in the future they'll rewrite the state's record of achievements. But for that to happen, somebody needed to take the initiative to ignite the minds of these bright young sparks. And as the No.1 newspaper of India's No.1 state, it was their responsibility to light this flame.

So they set up the Bal Vikas Manch as a part of their Community Initiative. This Manch serves as a platform that draws out prodigious wealth of talent in the younger generation from the state's urban as well as rural areas and helps canalize it towards a meaningful goal. In the process, profiling the state's tomorrow in terms of dreams, paths and objectives.

Lokmat Community Initiative has enabled them to interact with the women, youth and children very closely and know more about their academic, financial and professional background as well as develop a clearer understanding of their lifestyles and career goals. It's a knowledge whose power can be harnessed to cover new grounds and reach new mile stones. Just call any Lokmat Community Initiatives (LCI) executive at the branches listed below. And you'll discover how the Lokmat Community initiative can also be the bridge for direct communication with a market of limitless potential.

Mumbai 91-22-23008851-58

Pune 91-20-25532308/25532319/25538171

Nagpur 91-712-2423527

Aurangabad 91-240-2486601/2485301

Kolhapur 91-231-2641707/08/10/14

Nashik 91-253-2385465/66/67

Jalgaon 91-257-2210596/97, 2211098/99

Solapur 91-217-2600333/35

Akola 91-724-258921/22/23

Ahmednagar 91-241-2429711/ 2429902

THEIR SOCIAL CONTRIBUTION

To all of them at Lokmat, they are much more than just a newspaper group. They are a social movement. That's why they always contribute in some way to worthy social causes through Lokmat Charitable Trust. Some of their works include:

• Construction of schools in the flood affected villages in Nanded and Parbhani districts of Maharashtra in 1984.
• Rs 1.8 million donation to Prime Minister's Fund for earthquake victims of Bihar in 1988.
• Construction of an 8-room Primary School & a 10-bed Hospital in flood-affected Jalalkheda and Mowad towns in Nagpur district.
• Construction of two Schools and a Community hall at a cost of Rs 2 million after the devastating earthquake of Latur and Beed in 1989.
• Donating Rs 180,000 to every family of the 41 martyrs of the Kargil war.
• Constructed hostels at Nagpur, Aurangabad and Solapur at a cost of Rs. 16 million for the martyrs' children in association with the Soldier Welfare Board.
• Constructed 8 School buildings in the earthquake affected Bhuj area of Gujarat at a cost of Rs. 7 millions.
• Constructed an ICU at a cost of Rs.2.7 millions at Seth Govinddas Hospital [Victoria Hospital] at Jabalpur after the earthquake.
• Supplied several tons of nutritious food to malnourished children of the Melghat taluka of Vidarbha region in 2004. Lokmat's team monitored their progression from lower to a higher category of nutrition, thereby saving over 750 children from malnutrition death.

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. 40.45
UK Pound	1	Rs. 82.25
Euro	1	Rs. 63.20

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		52

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/normal.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
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