MIRA INFORM REPORT

Report Date :

01.12.2011

IDENTIFICATION DETAILS

Name :	PRAKASH CHEMICALS AGENCIES PRIVATE LIMITED
Registered Office :	“Prakash House”, 39-40, Krishna Estate, Gorwa Road, Vadodara – 390016, Gujarat
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	09.08.2002
Com. Reg. No.:	04-041095
Capital Investment / Paid-up Capital :	Rs.0.500 Million
CIN No.: [Company Identification No.]	U51496GJ2002PTC041095
Legal Form :	Private Limited Liability Company
Line of Business :	Trader and Exporter of all types of Chemicals, Dyes and Intermediates
No. of Employees :	50 [In Office] Approximately

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 160000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions.

NOTES : Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INFORMATION PARTED BY [General Details]

Name :	Mr. Vimal
Designation :	Marketing Manager
Contact No.:	91-265-3926112
Date :	30.11.2011

LOCATIONS

Registered /Head Office :	“Prakash House”, 39-40, Krishna Estate, Gorwa Road, Vadodara – 390016, Gujarat, India
Tel. No.:	91-265-3926112 / 3936000 / 2774925 / 2772788 / 2773789 / 2771642 / 2771659
Fax No.:	91-265-3926122 / 2772992
E-Mail :	pcapl@pcaplindia.com dilip@prakashchemicals.com pcpl@prakashchemicals.com
Website :	http://www.prakashchemicals.co.in http://www.pcaplindia.com
Location :	Rented
Branches :	Located At: Ahemdabad North Gujarat Ankleshwar Bharuch Dahej Vapi Daman Silvass Saurashtra Mumbai Surat

DIRECTORS

AS ON 27.09.2011

Name :

Mr. Sudip Dilip Shah

Designation :

Managing Director

Address :

15, Urmi Society, Baroda Productivity Road, Vadodara – 390020, Gujarat, India

Date of Appointment:

01.05.2004

DIN :

00308615

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U51496GJ2002PTC041095	PRAKASH CHEMICALS AGENCIES PRIVATE LIMITED	Managing director	1/5/2004	1/5/2004	Active	NO
2	U65910GJ1994PLC021006	PRAKASH FINANCIAL SERVICES (GUJARAT) LIMITED	Director	1/11/2004	1/11/2004	Active	NO
3	U64200GJ2005PTC045741	PRAKASH TELESERVICES PRIVATE LIMITED	Director	21/03/2005	21/03/2005	Active	NO

Name :

Mr. Dilip Kumarpal Shah

Designation :

Managing Director

Address :

15, Urmi Society, Baroda Productivity Road, Baroda – 390020, Gujarat, India

Date of Birth/Age :

21.09.1956

Date of Appointment :

09.08.2002

DIN :

00308782

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U65910GJ1994PLC021006	PRAKASH FINANCIAL SERVICES (GUJARAT) LIMITED	Director	4/1/1994	4/1/1994	Active	NO
2	U24231GJ1994PTC021914	PRAKASH CHEMICALS PRIVATE LIMITED	Director	28/02/1995	28/02/1995	Active	NO
3	U72200GJ2001PTC039384	PRAKASH SOFTWARE SOLUTIONS PRIVATE LIMITED	Director	3/4/2001	3/4/2001	Active	NO
4	U24231GJ2002PTC040891	PRAKASH CHEMICALS INTERNATIONAL PRIVATE LIMITED	Director	21/06/2002	21/06/2002	Active	NO
5	U51496GJ2002PTC041095	PRAKASH CHEMICALS AGENCIES PRIVATE LIMITED	Managing director	9/8/2002	9/8/2002	Active	NO
6	U64200GJ2005PTC045741	PRAKASH TELESERVICES PRIVATE LIMITED	Director	21/03/2005	21/03/2005	Active	NO
7	U92412GJ2009NPL058550	VADODARA MARATHON	Director	12/11/2009	12/11/2009	Active	NO

Name :

Mr. Hitesh Chandrakant Shah

Designation :

Director

Address :

1, Bhagyalaxmi Society, Near Akota Garden, Baroda, Gujarat, India

Date of Birth/Age :

17.07.1958

Date of Appointment :

28.09.2002

DIN :

00315534

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U65910GJ1994PLC021006	PRAKASH FINANCIAL SERVICES (GUJARAT) LIMITED	Director	4/1/1994	4/1/1994	Active	NO
2	U24231GJ1994PTC021914	PRAKASH CHEMICALS PRIVATE LIMITED	Managing director	28/02/1995	28/02/1995	Active	NO
3	U24231GJ2002PTC040891	PRAKASH CHEMICALS INTERNATIONAL PRIVATE LIMITED	Director	28/09/2002	28/09/2002	Active	NO
4	U51496GJ2002PTC041095	PRAKASH CHEMICALS AGENCIES PRIVATE LIMITED	Director	28/09/2002	28/09/2002	Active	NO
5	U64200GJ2005PTC045741	PRAKASH TELESERVICES PRIVATE LIMITED	Director	21/03/2005	21/03/2005	Active	NO
6	U72200GJ2001PTC039384	PRAKASH SOFTWARE SOLUTIONS PRIVATE LIMITED	Director	10/3/2007	10/3/2007	Active	NO

Name :

Mr. Atul Chandrakant Shah

Designation :

Director

Address :

21, Charotar Society, Old Padra Road, Baroda – 390020, Gujarat, India

Date of Birth/Age :

10.11.1959

Date of Appointment :

28.09.2002

DIN :

00411580

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U65910GJ1994PLC021006	PRAKASH FINANCIAL SERVICES (GUJARAT) LIMITED	Director	4/1/1994	4/1/1994	Active	NO
2	U24231GJ1994PTC021914	PRAKASH CHEMICALS PRIVATE LIMITED	Managing director	28/02/1995	28/02/1995	Active	NO
3	U72200GJ2001PTC039384	PRAKASH SOFTWARE SOLUTIONS PRIVATE LIMITED	Director	3/4/2001	3/4/2001	Active	NO
4	U24231GJ2002PTC040891	PRAKASH CHEMICALS INTERNATIONAL PRIVATE LIMITED	Director	28/09/2002	28/09/2002	Active	NO
5	U51496GJ2002PTC041095	PRAKASH CHEMICALS AGENCIES PRIVATE LIMITED	Director	28/09/2002	28/09/2002	Active	NO
6	U64200GJ2005PTC045741	PRAKASH TELESERVICES PRIVATE LIMITED	Director	21/03/2005	21/03/2005	Active	NO

Name :

M. Pinakin Kumarpal Shah

Designation :

Director

Address :

7, Nandanvan Colony, Near Akota Stadium, Baroda – 390020, Gujarat, India

Date of Birth/Age :

18.09.1961

Date of Appointment :

28.09.2002

DIN :

00411629

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U65910GJ1994PLC021006	PRAKASH FINANCIAL SERVICES (GUJARAT) LIMITED	Director	4/1/1994	4/1/1994	Active	NO
2	U24231GJ1994PTC021914	PRAKASH CHEMICALS PRIVATE LIMITED	Director	28/02/1995	28/02/1995	Active	NO
3	U72200GJ2001PTC039384	PRAKASH SOFTWARE SOLUTIONS PRIVATE LIMITED	Director	3/4/2001	3/4/2001	Active	NO
4	U24231GJ2002PTC040891	PRAKASH CHEMICALS INTERNATIONAL PRIVATE LIMITED	Director	28/09/2002	28/09/2002	Active	NO
5	U51496GJ2002PTC041095	PRAKASH CHEMICALS AGENCIES PRIVATE LIMITED	Director	28/09/2002	28/09/2002	Active	NO
6	U64200GJ2005PTC045741	PRAKASH TELESERVICES PRIVATE LIMITED	Managing director	21/03/2005	21/03/2005	Active	NO

Name :

Mr. Manish Kumarpal Shah

Designation :

Director

Address :

3, Spring Valley, Productivity Road, Baroda, Gijarat, India

Date of Birth/Age :

13.12.1968

Date of Appointment:

09.08.2002

DIN :

00315521

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U65910GJ1994PLC021006	PRAKASH FINANCIAL SERVICES (GUJARAT) LIMITED	Director	4/1/1994	4/1/1994	Active	NO
2	U24231GJ1994PTC021914	PRAKASH CHEMICALS PRIVATE LIMITED	Director	28/02/1995	28/02/1995	Active	NO
3	U72200GJ2001PTC039384	PRAKASH SOFTWARE SOLUTIONS PRIVATE LIMITED	Director	3/4/2001	3/4/2001	Active	NO
4	U24231GJ2002PTC040891	PRAKASH CHEMICALS INTERNATIONAL PRIVATE LIMITED	Managing director	21/06/2002	21/06/2002	Active	NO
5	U51496GJ2002PTC041095	PRAKASH CHEMICALS AGENCIES PRIVATE LIMITED	Director	9/8/2002	9/8/2002	Active	NO
6	U64200GJ2005PTC045741	PRAKASH TELESERVICES PRIVATE LIMITED	Director	21/03/2005	21/03/2005	Active	NO

Name :

Mr. Chirag Prakash Shah

Designation :

Director

Address :

57, Shreenagar Society, Shri Dinesh Mill Road, Baroda – 390020, Gujarat, India

Date of Birth/Age :

12.10.1973

Date of Appointment:

28.09.2002

DIN :

00308856

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U65910GJ1994PLC021006	PRAKASH FINANCIAL SERVICES (GUJARAT) LIMITED	Director	4/1/1994	4/1/1994	Active	NO
2	U24231GJ1994PTC021914	PRAKASH CHEMICALS PRIVATE LIMITED	Managing director	28/02/1995	28/02/1995	Active	NO
3	U72200GJ2001PTC039384	PRAKASH SOFTWARE SOLUTIONS PRIVATE LIMITED	Director	3/4/2001	3/4/2001	Active	NO
4	U24231GJ2002PTC040891	PRAKASH CHEMICALS INTERNATIONAL PRIVATE LIMITED	Director	28/09/2002	28/09/2002	Active	NO
5	U51496GJ2002PTC041095	PRAKASH CHEMICALS AGENCIES PRIVATE LIMITED	Director	28/09/2002	28/09/2002	Active	NO
6	U64200GJ2005PTC045741	PRAKASH TELESERVICES PRIVATE LIMITED	Director	21/03/2005	21/03/2005	Active	NO

Name :

Mr. Hardik Suryakant Shah

Designation :

Director

Address :

5, Sriniketan Society, Jetalpur Road, Baroda – 390005, Gujarat, India

Date of Birth/Age :

02.03.1977

Date of Appointment:

28.09.2002

DIN :

00315509

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U65910GJ1994PLC021006	PRAKASH FINANCIAL SERVICES (GUJARAT) LIMITED	Director	4/1/1994	4/1/1994	Active	NO
2	U24231GJ1994PTC021914	PRAKASH CHEMICALS PRIVATE LIMITED	Director	10/2/1996	10/2/1996	Active	NO
3	U72200GJ2001PTC039384	PRAKASH SOFTWARE SOLUTIONS PRIVATE LIMITED	Managing director	3/4/2001	3/4/2001	Active	NO
4	U24231GJ2002PTC040891	PRAKASH CHEMICALS INTERNATIONAL PRIVATE LIMITED	Director	28/09/2002	28/09/2002	Active	NO
5	U51496GJ2002PTC041095	PRAKASH CHEMICALS AGENCIES PRIVATE LIMITED	Director	28/09/2002	28/09/2002	Active	NO
6	U64200GJ2005PTC045741	PRAKASH TELESERVICES PRIVATE LIMITED	Director	21/03/2005	21/03/2005	Active	NO

Name :

Mr. Prakash Chunilal Shah

Designation :

Director

Address :

57, Shreenagar Society, Shri Dinesh Mill Road, Baroda – 390020, Gujarat, India

Date of Birth/Age :

03.11.1945

Date of Appointment :

09.08.2002

DIN :

00382086

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U65910GJ1994PLC021006	PRAKASH FINANCIAL SERVICES (GUJARAT) LIMITED	Director	4/1/1994	4/1/1994	Active	NO
2	U24231GJ1994PTC021914	PRAKASH CHEMICALS PRIVATE LIMITED	Managing director	28/02/1995	28/02/1995	Active	NO
3	U72200GJ2001PTC039384	PRAKASH SOFTWARE SOLUTIONS PRIVATE LIMITED	Director	3/4/2001	3/4/2001	Active	NO
4	U51496GJ2002PTC041095	PRAKASH CHEMICALS AGENCIES PRIVATE LIMITED	Director	9/8/2002	9/8/2002	Active	NO
5	U24231GJ2002PTC040891	PRAKASH CHEMICALS INTERNATIONAL PRIVATE LIMITED	Director	28/09/2002	28/09/2002	Active	NO
6	U64200GJ2005PTC045741	PRAKASH TELESERVICES PRIVATE LIMITED	Director	21/03/2005	21/03/2005	Active	NO

KEY EXECUTIVE

Name :	Mr. Vimal
Designation :	Marketing Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 27.09.2011

Names of Shareholders	No. of Shares
Shah Prakashbhai	6250
Shah Dilipbhai	4250
Shah Atul	6250
Shah Pinakin	6249
Shah Manish	6249
Shah Chirag	6249
Shah Hardik	6253
Shah Hitesh	6249
Shah Dilipbhai	1
Shah Sudip	2000
TOTAL	50000

AS ON 27.09.2011

Equity Share Breakup		Percentage of Holding
Category
Directors or relatives of directors		100.00
	Total	100.00

BUSINESS DETAILS

Line of Business :

Trader and Exporter of all types of Chemicals, Dyes and Intermediates

Products :

• Citric Acid Anhydrous
• Citric Acid Monohydrate
• Sodium Citrate
• Barium Carbonate
• Caustic Potash Group
• Caustic Soda Flakes
• Caustic Soda Group
• Caustic Soda Lye
• Caustic Soda Prills
• Chloroform
• Chloromethane Group
• Corn Gluten Meal
• Cotton Seed Meal/Rapeseed Meal
• DCP-MCP
• Dehydrated Onion
• Dextrin Yellow-White
• Guar Gum/Guar Korma
• Malto Dextrin/Sorbitol/Soya Lecithin
• Methyl Chloride
• Aluminum Chloride Anhydrous
• Methylene Chloride
• Potassium Carbonate Granular
• Sodium Hypochlorite
• Soyabean Meal
• Caustic Potash (KOH) Flakes
• STPP

Products Description	ITC Code No.
Caustic Soda Flakes	281511.01
Hydrochloric Acid	280610.00
Chlorine	280110.00

Agencies Held :

• Gujarat Alkalies and Chemicals Limited
• Gujarat Narmada Valley
• Fertilizers Company Limited

Exports :

Products :

• Chemicals
• Dyes

Countries :

• Brazil

Terms :

Selling :

Cash, Credit ( 30 days)

Purchasing :

Cash, Credit ( 30 days)

GENERAL INFORMATION

Customers :

End Users and OEM’s

No. of Employees :

50 [In Office] Approximately

Bankers :

• Bank of Baroda, Navayard Branch, Navayard, Vadodara - 390002, Gujarat, India
• ICICI Bank

Facilities :

SECURED LOAN	31.03.2010 (Rs.In millions)	31.03.2009 (Rs.In millions)
Bank of Baroda, Navayard Branch, C.C. A/c (Secured against Stock, Book Debts, personal guarantee of directors and equitable mortgage of Ishwar Krupa property at Fatehgunj on the name of director’s relative)	21.658	9.205
ICICI Bank Car Loan (Secured against Car) (Maximum amount due in next Twelve Months Rs. Nil, P.Y. Rs. 0.067 million)	0.000	0.067
TOTAL	21.658	9.272

UNSECURED LOAN	31.03.2010 (Rs.In millions)	31.03.2009 (Rs.in millions)
Intercorporate Loans	1.944	2.443
Loans from Shareholders and their relatives (Including interest accrued on above during the year Rs.0.453 million, P.Y. Rs.0.447 million)	4.606	4.973
TOTAL	6.551	7.416

Banking Relations :	--
Auditors :
Name :	C R Sharedalal and Company Chartered Accountants
Address :	101-102, 1^st Floor, Parishram, 5 B, Rashmi Society, Mithakhali Six Roads, Navrangpura, Ahmedabad – 380009, Gujarat, India
Tel. No.:	91-79-26446560
Fax No.:	91-79-26449570
E-Mail :	jes@crsharedalalco.com
Website :	http://www.crsharedalalco.com
PAN :	AAAFC6902F
Membership :	Federation of Indian Chambers of Commerce and Industry [FICCI]
Associates/Subsidiaries :	Prakash Chemicals International Private Limited Shah International FZE
Group Companies :	Prakash Chemicals Private Limited Prakash Chemicals Agencies Private Limited Prakash Software Solutions Private Limited Prakash Tele – Services Private Limited Prakash Herbal

CAPITAL STRUCTURE

As on 27.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
100,000	Equity Shares	Rs. 10/- each	Rs.1.000 million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
50,000	Equity Shares	Rs. 10/- each	Rs.0.500 million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		0.500	0.500	0.500
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		39.613	31.847	26.016
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		40.113	32.347	26.516
LOAN FUNDS
1] Secured Loans		21.658	9.272	17.502
2] Unsecured Loans		6.551	7.416	7.701
TOTAL BORROWING		28.209	16.688	25.203
DEFERRED TAX LIABILITIES		1.314	1.148	2.415
TOTAL		69.636	50.183	54.134
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		12.641	7.280	10.243
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		7.567	2.871	2.870
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	10.004	17.988	9.394
	Sundry Debtors	78.344	74.042	91.375
	Cash & Bank Balances	4.031	2.863	3.892
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	31.526	23.881	24.167
Total Current Assets		123.905	118.774	128.828
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	53.346	62.391	73.987
	Other Current Liabilities	1.496	1.566	1.326
	Provisions	19.635	14.785	12.493
Total Current Liabilities		74.477	78.742	87.807
Net Current Assets		49.428	40.032	41.021
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		69.636	50.183	54.134

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	459.716	598.482	629.237
		Service Charges and Commission		18.606	15.229
		Other Income	22.275	3.719	2.987
		TOTAL (A)	481.991	620.807	647.453
Less	EXPENSES
		Cost of Goods Sold		593.073	623.637
		Administrative Expenses		13.572	9.982
		Remuneration to Directors		1.350	1.556
		TOTAL (B)	467.010 [Including Finance Expenses]	607.995	635.175
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			12.812	12.278
Less	FINANCIAL EXPENSES (D)			2.058	1.033
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		14.981	10.754	11.245
Less/ Add	DEPRECIATION/ AMORTISATION (F)		2.141	2.665	2.782
	PROFIT BEFORE TAX (E-F) (G)		12.840	8.089	8.463
Less	TAX (H)		5.074	2.259	3.538
	PROFIT AFTER TAX (G-H) (I)		7.766	5.830	4.925
	EARNINGS IN FOREIGN CURRENCY		3.601	0.000	0.000
	IMPORTS - Raw Materials / Goods		96.963	88.263	NA
	Earnings Per Share (Rs.)		155.33	116.60	98.50

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	1.61	0.94	0.76
Net Profit Margin (PBT/Sales)	(%)	2.79	1.35	1.34
Return on Total Assets (PBT/Total Assets}	(%)	9.40	6.42	6.08
Return on Investment (ROI) (PBT/Networth)		0.32	0.25	0.32
Debt Equity Ratio (Total Liability/Networth)		2.56	2.95	4.26
Current Ratio (Current Asset/Current Liability)		1.66	1.51	1.47

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report [Yes/No]
Year of Establishment	Yes
Locality of the Firm	Yes
Construction of the firm	Yes
Premises details	Yes
Type of Business	Yes
Line of Business	Yes
Promoters background	-
No. of Employees	Yes
Name of Person Contacted	Yes
Designation of contact person	Yes
Turnover of firm for last three years	No
Profitability for last three years	No
Reasons for variation <> 20%	-
Estimation for coming financial year	No
Capital the business	No
Details of sister concerns	Yes
Major Suppliers	No
Major Customers	No
Payment Terms	Yes
Export / Import Details [If Applicable]	Yes
Market Information	-
Litigations that the firm / promoter involved in	-
Banking Details	Yes
Banking Facility Details	No
Conduct of the banking account	-
Buyer visit details	-
Financials, if provided	No
Incorporation details, if applicable	-
Last accounts filed at ROC	-
Major Shareholders, if applicable	-

Note : Registered office address of the company has been shifted from Induchacha House, Opposite Chhani Octroi Naka, Vadodara – 390002, Gujarat, India to the present address w.e.f. 01.06.2011

Bankers Charges Report as per Registry

Corporate identity number of the company	U51496GJ2002PTC041095
Name of the company	PRAKASH CHEMICALS AGENCIES PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Induchacha House, Opposite Chhanioctroinaka, Baroda – 390002, Gujarat, India
This form is for	Creation of charge
Type of charge	Immovable Property
Particular of charge holder	Bank of Baroda, Navayard Branch, Navayard, Vadodara - 390002, Gujarat, India Email : chhaba@bankofbaroda.com
Nature of instrument creating charge	Instrument of Extension/creation of Mortgage relating to actual/constructive deposit of title deeds.
Date of instrument Creating the charge	22.09.2010
Amount secured by the charge	Rs. 98.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest – Term loan-1.50% above BPLR. Cash credit-1.50% above BPLR Terms of Repayment – Term Loan - Repayable in 59 equal monthly installments each of Rs. 0.259 million and last installment of Rs. 0.219 million. Cash Credit - 12 Months Inland letter of Credit - 12 Months subject to review Bank Guarantee - 12 Months subject to review Margin – Term loan - Land:100%, Construction:30% and Furniture and Fixtures:25%. Cash credit - 30% on stock and Book-debts. Inland letter of Credit - 10% at the time of opening of LC and 10% at the time of receipt of documents. Bank guarantee -15% cash/FDR for normal bank guarantee. Extent and Operation of the charge - First charge on all immovable assets of the company.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	In District Vadodara Registration Sub District Vadodara Moje Gorwa Survey No. 992/2, 993/2/B, 998/1 and 998/2 land in Krishna Industrial Estate whereof the Plot No. C//40 admeasuring 972 sq.mtr.paiki north side half portion admeasuring 486 sq.mtr. bounded as follows.

FORM 8

Name of the company	PRAKASH CHEMICALS AGENCIES PRIVATE LIMITED
Presented By	Mr. Dilip K Shah Director
1) Date and description of instrument creating the change	Hypothecation Agreement dated 1st July. 2004
2) Amount secured by the charge/amount owing on the securities of charge	Rs.9.000 millions comprised of Rs.5.000 million Cash Credit and Rs.4.000 million Bank Guarantee
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	AII the stock of chemicals and all the book debts, outstanding moneys, claims, receivables both present and future by way of first charge of the Bank
4) Gist of the terms and conditions and extent and operation of the charge.	Interest at the rate of 1.5 percent above BPLR per annum with monthly rests. Margin 40 percent on Cash Credit and 20 percent on Bank Guarantee.
5) Name and Address and description of the person entitled to the charge.	Bank of Baroda, Navayard Branch, Navayard, Vadodara 390002, Gujarat, India
6) Date and brief description of instrument modifying the charge	NA
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.	NA

This form is for	Modification of charge
Charge identification number of the modified	10103898
Corporate identity number of the company	U51496GJ2002PTC041095
Name of the company	PRAKASH CHEMICALS AGENCIES PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Induchacha House, Opposite Chhani Octroi Naka, Vadodara – 390002, Gujarat, India
Type of charge	Book Debts Movable Property
Particular of charge holder	Bank of Baroda, Navayard Branch, Navayard, Vadodara 390002, Gujarat, India
Nature of description of the instrument creating or modifying the charge	Supplemental composite agreement of hypothecation of goods, book-debts, moveable machinery and vehicles.
Date of instrument Creating the charge	13.07.2010
Amount secured by the charge	Rs.98.000 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Term loan-1.50% above BPLR. Cash credit-1.50% above BPLR Terms of Repayment Term Loan - Repayable in 59 equal monthly installments each of Rs. 0.259 millions and last installment of Rs. 0.219 millions Cash Credit - 12 Months Inland letter of Credit - 12 Months subject to review Bank Guarantee - 12 Months subject to review Margin Term loan - Land:100%, Construction:30% and Furniture & Fixtures:25%. Cash credit - 30% on stock & Book-debts. Inland letter of Credit - 10% at the time of opening of LC and 10% at the time of receipt of documents. Bank guarantee -15% cash/FDR for normal bank guarantee. Extent and Operation of the charge First charge on all movable assets of the company.
Date of latest modification prior to the present modification	10.03.2009
Particulars of the present modification	The existing charge of Rs. 75.000 millions has been modified to provide for an addition of Rs. 38.000 millions and to provide for repayment of Inland letter of credit of Rs. 15.000 millions. Thus the securities offered by this charge will, now cover the aggregate finance facilities of Rs. 98.000 millions. The break up of Rs. 98.000 millions has been provided in the attached agreement of hypothecation.

FIXED ASSETS

• A C and Cooler
• Refrigerator
• Motor Car
• LCH Gas Cylinder
• SO2 Gas Cylinder
• Office Equipment
• Intercom
• Computer
• Xerox Machine
• Furniture and Fixtures
• Dead Stock
• Typewriter
• Generator
• Cycle
• UPS Systems
• Goodwill
• Land
• Furniture and Fixtures (Prakash Commo)

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.52.16
UK Pound	1	Rs.81.28
Euro	1	Rs.69.47

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		45

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	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

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.