MIRA INFORM REPORT

Report Date :

06.11.2011

IDENTIFICATION DETAILS

Name :	DTL ANCILLIARIES LIMITED (w.e.f. 09.04.2008)
Formerly Known As :	DTL ANCILLARIES PUNE WORK LIMITED
Registered Office :	Flat No.102, ultraula Complex, 27/6 Raja Ram Mohan, Rai Marg, 3, Way Road, Lucknow – 226001, Uttar Pradesh
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	29.08.1996
Com. Reg. No.:	20-020585
Capital Investment / Paid-up Capital :	Rs.20.949 Millions
CIN No.: [Company Identification No.]	U34102UP1996PLC020585
TAN No.: [Tax Deduction & Collection Account No.]	LKNM00339D
Legal Form :	A closely held Public Limited Liability Company
Line of Business :	Manufacturer of Cold Roll Forming and Down Stream Production “DTL” – Roll Metal
No. of Employees :	150 (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 540000
Status :	Satisfactory
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well – established and reputed company having satisfactory track. Trade relations are fair. Business is active. General financial position is satisfactory. Payments are reported as 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 – April 1, 2010

Country Name	Previous Rating (31.12.2009)	Current Rating (01.04.2010)
India	A1	A1

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

INFORMATION DECLINED BY

Name :	Mr. Sunil
Designation :	Accounts Manager
Contact No.:	91-9890350017
Date :	05.11.2011

LOCATIONS

Registered Office :	Flat No.102, ultraula Complex, 27/6 Raja Ram Mohan, Rai Marg, 3, Way Road, Lucknow – 226001, Uttar Pradesh, India
Tel. No.:	91-522-2208485/ 283241
Fax No.:	91-522-206544
E-Mail :	gupta.sunil@dtlpune.com
Website:	http://www.dtlpune.com
Location :	Owned
Head Office / Factory 1:	Gat No. 366 , Ambethan Road, Near WMDC Industrial Area, P O Chakan, Taluka Khed, Pune – 410 501, Maharashtra, India
Tel. No.:	91-2135-252771/ 253230/ 252026
Fax No.:	91-2135-252026/ 253230
Area :	80000 Sq.fts
Location :	Owned
Factory 2:	Plot No. 43 W MDC Industrial Area, Chakan Pune -410 501, Maharashtra, India
Tel. No.:	91-2135-326989
Fax No.:	91-2135-252026
E mail:	info@dtlpune.com sales@dtlpune.com admin@dtlpune.com
Area :	Owned
Location :	28000 Sq.fts

DIRECTORS

AS ON 30.09.2011

Name :	Mr. Vijay Mohan Jain
Designation :	Chairman Cum Managing Director
Address :	163/31, Kotdbagi Hospital Lane, Aundh, Pune-411007, Maharashtra, India
Date of Birth/Age :	25.12.1945
Date of Appointment :	29.08.1996

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U50300UP1981PLC005289	DTL INDIA HOLDINGS LIMITED	Managing director	28/04/1981	28/04/1981	-	Active	NO
2	U34102UP1996PLC020585	DTL ANCILLARIES LIMITED	Managing director	29/08/1996	29/08/1996	-	Active	NO

Name :	Mr. Santosh Jain
Designation :	Director
Address :	163/31, Kotdbagi Hospital Lane, Aundh, Pune-411007, Maharashtra, India
Date of Birth/Age :	07.10.1948
Date of Appointment :	29.08.1996

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U50300UP1981PLC005289	DTL INDIA HOLDINGS LIMITED	Director	28/04/1981	28/04/1981	-	Active	NO
2	U34102UP1996PLC020585	DTL ANCILLARIES LIMITED	Director	29/08/1996	29/08/1996	-	Active	NO

Name :	Mr. Siddharth Jain
Designation :	Director
Address :	163/31, Kotdbagi Hospital Lane, Aundh, Pune-411007, Maharashtra, India
Date of Birth/Age :	28.07.1975
Date of Appointment :	29.08.1996

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U34102UP1996PLC020585	DTL ANCILLARIES LIMITED	Director	29/08/1996	29/08/1996	-	Active	NO
2	U50300UP1981PLC005289	DTL INDIA HOLDINGS LIMITED	Director	25/09/2002	25/09/2002	-	Active	NO

Name :	Mrs. Manju Goel
Designation :	Director
Address :	D-987, New Friends Colony, New Delhi-110065, India
Date of Birth/Age :	18.09.1956
Date of Appointment :	14.03.2009

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U74899DL1982PLC013154	Lumax Ancillary Limited	Whole-time director	01/05/2010	16/01/2006	-	Active	NO
2	U34102UP1996PLC020585	DTL ANCILLARIES LIMITED	Director	14/03/2009	14/03/2009	-	Active	NO

Name :	Mr. Rohan Faqirchand Gupta
Designation :	Director
Address :	504/B Wing, Sahadeo Heights, Near Rajwsada Hotel, Someshwarwadi, Pashan, Pune-411008, Maharashtra, India
Date of Birth/Age :	04.02.1978
Date of Appointment :	14.03.2009

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U34102UP1996PLC020585	DTL ANCILLARIES LIMITED	Director	14/03/2009	14/03/2009	-	Active	NO
2	U36104PN2011PTC139532	WINDOOR FENESTRATIONS PRIVATE LIMITED	Director	12/05/2011	12/05/2011	-	Active	NO

Name :	Mrs. Anjali Rohan Gupta
Designation :	Director
Address :	F.No. 504, Building B Wing, S.No. 16/B/1 Sahadeo Heights Pashan, Someshwarwadi, Pune-411021, Maharashtra, India
Date of Birth/Age :	10.04.1978
Date of Appointment :	14.03.2009

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U34102UP1996PLC020585	DTL ANCILLARIES LIMITED	Director	14/03/2009	14/03/2009	-	Active	NO

Name :	Mr. Dinesh Chandra Sundriyal
Designation :	Whole time Director
Address :	U 3 39B, Dhawalgiri, Sector 11, Gautambudh Nagar, Noida-201301, Uttar Pradesh, India
Date of Birth/Age :	15.09.1959
Date of Appointment :	01.10.2008

KEY EXECUTIVES

Name :	Mr. Sunil
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders	No. of Shares
V. M Jain	207874
Santosh Jain	138623
Sidharth Jain	120978
V. M. Jain (HUF)	244158
Anuja Jain	182221
Mukta Jain	121
DTL Ancillaries U.P. Limited, India	1200725
K N Pandey	120
Dinesh Chandra Sundariyal	120
Total	2094940

Equity Share Breakup (Percentage of Total Equity)

As on 30.09.2011

Category	Percentage
Bodies corporate	57.31
Directors or relatives of Directors	42.67
Other top fifty shareholders	0.02
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Cold Roll Forming and Down Stream Production “DTL” – Roll Metal
Terms :
Selling :	Cash, Credit
Purchasing :	Cash, Credit

PRODUCTION STATUS (as on 31.03.2010):-

Particulars	Unit	Produced and Sold
		Qty
Bodies for Motor Vehicle	Nos	9283
M V Parts	Nos	100602
CRF Section	Nos Kgs Sets	168661 261290 1621
TAD Pole	Nos	839
Collecting Electrode	Kg	49653
Part of Rall Coach	Sets	2

GENERAL INFORMATION

Suppliers :

Jindal Steel

Customers :

· OEM’s

· Tata Motors Limited

· Integral Coach Factory

No. of Employees :

150 (Approximately)

Bankers :

· HDFC Bank Limited, Opposite Same Dairy Bhawarkar Road, Pune , Maharashtra, India

· SBI Factors and Commercial Services Private Limited, Pune , Maharashtra, India

· HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai – 400 013, Maharashtra, India

· State Bank of India, 1548A, Commercial Branch, Tilak Road, Pune-411030, Maharashtra, India

· Citi Bank N.A.

Facilities:

CC – Rs.300.000 Millions , TL – 50.000 Millions

Secured Loans	31.03.2010 Rs. in Millions	31.03.2009 Rs. in Millions
SBI Factors (Limited Sanctioned- Total Rs. 70.000 Millions) (Factoring facility – Rs. 50.000 Millions and purchase bills factoring Rs. 20.000 Millions Security – Primary – Assignment of Book Debts - Personal Guarantee Directors - Fixed Deposits with SBI Pune Branch	32.487	72.266
HDFC Car Loan Toyota- 15239420	0.993	0.000
Term Loan – SBI Tilak Road Security Offered	20.166	0.000
SBI- Cash Credit Amount Sanctioned – Rs. 70.000 Millions Security – Stock and book debts	89.227	11.311
Total	142.873	83.577
Unsecured Loans	31.03.2010 Rs. in Millions	31.03.2009 Rs. in Millions
Sales Tax Defferment Loan (Packaging Scheme of Incentives by State Government of Maharashtra)	32.684	32.684
City Bank Business Loan	2.714	4.219
CitiBank N.A. (Loan) – 912269	23.935	0.000
Loans from Roll Metal Section	1.820	0.000
Loans from VHJ HUF	0.920	0.000
Loans from Directors	2.130	4.900
Total	64.203	41.803

Financial Institutions:

SBI Factors and Commercial Services Private Limited

Tara Chambers, 2^nd Floor, Mumbai – Pune Road, Wakdewadi, Pune – 411 003, Maharashtra, India

Banking Relations :

Satisfactory

Auditors :

Name :

Gavaskar and Doshi Company

Chartered Accountants

Address :

6, Mrunmayee Society, 43/6, Erandwane, Nal Stop, Behind Bank Of India, Karve Road, Pune – 411 004, Maharashtra, India

Tel No.:

91-20-25438480/ 25423634

Fax No.:

91-20-25437637

E-mail:

Info.gavaskardoshi.com

Mahesh.g@gavaskardoshi.com

Holding company:

D T L Ancillaries U P Limited

L50300UP1981PLC005289

Associates/Subsidiaries :

· VM Jain (HUF)

· Roll Metal Section (Division DTL UP Limited)

CAPITAL STRUCTURE

AS ON 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs. 10/- each	Rs.100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2094904	Equity Shares	Rs. 10/- each	Rs.20.949 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

Particulars	31.03.2011
Sales Turnover (Approximately)	1560.000

Expected Sales (2011-2012) : Rs.3000.000 Millions

The above information has been parted by Mr. Sunil (Accounts Manager)

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		20.949	15.549	15.549
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		114.701	50.821	36.942
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		135.650	66.370	52.491
LOAN FUNDS
1] Secured Loans		142.873	83.577	106.383
2] Unsecured Loans		64.203	41.803	43.289
TOTAL BORROWING		207.076	125.380	149.672
DEFERRED TAX LIABILITIES		2.990	2.392	1.455
TOTAL		345.716	194.142	203.618
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		99.566	69.115	60.897
Capital work-in-progress		29.992	2.579	1.222
INVESTMENT		0.993	5.064	4.984
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	61.953	34.159	59.76.0
	Sundry Debtors	190.590	100.451	76.291
	Cash & Bank Balances	57.157	32.199	8.828
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	30.724	15.891	40.637
Total Current Assets		340.424	182.700	185.516
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	120.239	60.282	44.192
	Other Current Liabilities	4.706	3.861	5.136
	Provisions	0.561	1.409	0.120
Total Current Liabilities		125.506	65.552	49.448
Net Current Assets		214.918	117.148	136.068
MISCELLANEOUS EXPENSES		0.247	0.236	0.447
TOTAL		345.716	194.142	203.618

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	1056.529	547.204	527.807
		Other Income	3.696	1.921	1.256
		TOTAL (A)	1060.225	549.125	529.063
Less	EXPENSES
		Cost of Material Consumed	826.300	419.781	432.665
		Increase/ Decrease in Stock	[8.715]	4.128	[2.328]
		Manufacturing Expenses	15.471	12.699	12.660
		Staff and Labour Expenses	78.864	47.939	45.991
		Administrative and Selling Expenses	30.168	21.183	11.143
		TOTAL (B)	942.088	505.730	500.131
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		118.137	43.395	28.932
Less	FINANCIAL EXPENSES (D)		28.558	15.273	8.640
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		89.579	28.122	20.292
Less/ Add	DEPRECIATION/ AMORTISATION (F)		7.307	6.332	4.304
	PROFIT BEFORE TAX (E-F) (G)		82.272	21.790	15.988
Less	TAX (I)		18.392	7.912	4.799
	PROFIT AFTER TAX (G-I) (J)		63.880	13.878	11.189
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		30.800	16.922	5.733
	BALANCE CARRIED TO THE B/S		94.680	30.800	19.922
	Earnings Per Share (Rs.)		30.49	--	--

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	6.03	2.53	2.11
Net Profit Margin (PBT/Sales)	(%)	7.79	3.98	3.03
Return on Total Assets (PBT/Total Assets}	(%)	18.70	8.65	6.49
Return on Investment (ROI) (PBT/Networth)		0.61	0.33	0.30
Debt Equity Ratio (Total Liability/Networth)		2.45	2.88	3.79
Current Ratio (Current Asset/Current Liability)		2.71	2.79	3.75

LOCAL AGENCY FURTHER INFORMATION

NOTE:

The registered office address of the company has been shifted from 19 Way Road, Ashok Marg, Lucknow-226001, Uttar Pradesh, India to present address w.e.f. 10.05.2011

Check List by Info Agents	Available in Report (Yes / No)
1) Year of Establishment	Yes
2) Locality of the firm	Yes
3) Constitutions of the firm	Yes
4) Premises details	Yes
5) Type of Business	Yes
6) Line of Business	Yes
7) Promoter's background	--
8) No. of employees	Yes
9) Name of person contacted	Yes
10) Designation of contact person	Yes
11) Turnover of firm for last three years	Yes
12) Profitability for last three years	No
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	Yes
15) Capital in the business	Yes
16) Details of sister concerns	Yes
17) Major suppliers	Yes
18) Major customers	Yes
19) Payments terms	Yes
20) Export / Import details (if applicable)	--
21) Market information	--
22) Litigations that the firm / promoter involved in	--
23) Banking Details	Yes
24) Banking facility details	Yes
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	No
28) Incorporation details, if applicable	--
29) Last accounts filed at ROC	--
30) Major Shareholders, if available	--

OPERATIONS AND FUTURE PROSPECTS :

A. AUTO TECH BUSINESS :

Revival of demand in Auto related business of the company has resulted in better utilization of LB factory capacity.

The company as always has been trying for higher share of Business segment with M/s. Tata Motors Limited Further

company is in process of entering into a MOU with M/s Data M Sheet Metal Solutions GMBH for exporting their newly innovated Technology for production of Chassis Frame for wide range of Commercial Vehicles which will improve the presence in TML. This is likely to improve company’s performance in Auto-tech Business. This is Hi-tech area being introduced in the country for the first time.

B. RAIL TECH BUSINESS :

1) Production Units of Railway for Coaches and Wagons have been asked Govt. of India to make Coaches in Stainless Steel in place of Corten Steel. The process has been begun and company has been approved both for coaches and wagons sub Assys as well as for production of CRF Section and for forward integrations in production of Side wall, End wall, Roofs in S.S both for coaches. High Capacity wagons are required by I.R for which RDSO has designed one piece center sill and given to Industrial Units listed with them. Company has under taken R and D work in the last one year and has designed CRF Mill capable of handling of such a huge item and got it fabricated. It has been done keeping in view large potential in Railway related business.

2) It is also reported that Govt. of India has decided to add 2.9 lakh wagons and 50,000 coaches during the decade i.e. 2010-20. Hence they can continuously increase the capacity for CRF sections and Side Wall, End wall fabrication and Cater to increasing demand of Railways in Wagons.

3) The company has procured an order of M/s RITES Limited for manufacture of Side walls, Roofs and End wall in respect of 30 coaches on DMU under frame meant for Exports by M/s RITES Limited In addition ICF has also given order for 20 coaches of LHB type. Hence 50 coaches sets orders are in hand. Which is likely to increase as they go along with next year. RITES Limited is exporting Agency for Indian Coaches and the Increase to enter into it opens vast opportunity for future as well.

C. ENVIRO TECH BUSINESS :

Company is coming to substantially increase its Turnover in this are by production of collecting plates and Top, Bottom Hangers.

1) Alstom Projects India Limited Kolkata.

2) Thermax Limited (Enviro Division)

3) Clyde Bergmass India Private Limited Thra’ Isjec Thompson and Larsen and Teubro Limited.

RESEARCH DEVELOPMENT:

During the year the company has incurred Rs 25.000 Millions approx. For Research and Development for development of One piece center sill in stainless steel for Hi-cap. Wagons for which a specially developed Cold Roll Forming line which is 70 meter in length along with its tool. Company has already been approved by Railway. P.U’s for supply Side walls, Roof and End walls while commercial; production is started by P.U’s of Railways for New Stainless Steel Coaches. The empirically designed Mill and Roll has been put through simulation process to assess the possibility of its success, which results are encouraging.

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Tools and die

· Office Equipments

· Furnitures and fittings

· Vehicles

· Computers

· Electrical Installation

Bankers Charges Report as per Registry

Corporate identity number of the company	U34102UP1996PLC020585
Name of the company	DTL ANCILLIARIES PUNE WORKS LIMITED
Address of the registered office or of the principal place of business in India of the company	Flat No.102, ultraula Complex, 27/6 Raja Ram Mohan, Rai Marg, 3, Way Road, Lucknow – 226001, Uttar Pradesh
This form is for	Modification of charge
Type of charge	Book Debts Movable Property Floating Charge
Particular of charge holder	State Bank of India
Nature of instrument creating charge	1) Supplemental Agreement of Loan-Cum-Hypothecation 2) Letter of Arrangement (Both the documents executed for a single modification)
Date of instrument Creating the charge	08/10/2011
Amount secured by the charge	Rs.735.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest WC: Interest@5.75% above the Base Rate which is presently 10% p.a., Present Effective Rate 15.75% p.a. or the rate as may be prescribed by the Bank from time to time. Margin Raw Material 25%, Semi Finished Goods and Finished Goods 33%, Domestic Receivables (90 days) 30%, Letter of Credit and Bank Guarantee 15% Extent and Operation of the charge Details of Facilities Demand Cash Credit 20, SLOC 00.50, Advoc Working Capital 10, Term Loan 5 (present outstanding 3.97), Letter of Credit 32, Bank Guarantee 6, Total Rs. 73.50 Cr.(considering the Term Loan present outstanding total becomes Rs.724.700 Millions) First Charge by way of Hypothecation on all current assets, Machinery and Movable Assets and on all Immovable property and continues till Full Repayment of the Loan Amount.
Short particulars of the property charged	Hypothecation of Company's Entire Stocks,Stores and Spares,Consumables, Steel,Components, Paint and Chemicals, Book Debts,all machinery,tools and software purchased out of Bank Finance. Mortgage of immovable properties of Company - 1) All that piece and parcel of the property bearing Plot No. 43,Gat No.358,361,362 and 365 (Old No.2892,2895,2986,2901) lying at Kharabwadi. 2) Land bearing Gat No. 366/2 (old Gat No. 2900/2) adm.H-O,Area 27 situate well inside the Chakan Ambethan Road. 3) Land bearing Gat No. 366/3 (Old Gat No. 2900/3) adm H-O, Area 27 situate inside the Chakan Ambethan Road. 4) Land bearing Gat No. 366/2 (Old Gat No. 2900/2) adm H-O, Area 27situated well inside the Chakan Ambethan Road. Mortgage of immovable properties of Abhay and Prithviraj -All that piece and parcel of the land area having Gat No.373(Old Gat No.2907) totally alongwith Potkharaba adm.02H75 Are assessed at Rs.6.94 Paise out of which area lying to the east and adm.00H 40 Ares sit.at Village Kharabwadi. Mortgage of immovable properties of Sanjay and Padma - All that piece and parcel of the land area having Gat No.373 (old Gat No.2907) totally alongwith Potkharaba adm.02H 75 ares assessed at Rs.06.94 paisa out of which area lying to the East and adm.00H 40 Ares sit.at Village Kharabwadi.
Date of instrument modifying the charge	25/03/2011
Particulars of the present modification	Company has availed additional adhoc limit of Rs.1.000 Million. Hence total of Facilities becomes Rs.735.000 Millions. Details of Facilities Demand Cash Credit 20, SLOC 00.50, Advoc Working Capital 10, Term Loan 5 (present outstanding 3.97), Letter of Credit 32, Bank Guarantee 6, Total Rs. 735.000 Millions. The charge on hypothecated assets was extended to secure total facilities availed by the Company.

Corporate identity number of the company	U34102UP1996PLC020585
Name of the company	DTL ANCILLIARIES PUNE WORKS LIMITED
Address of the registered office or of the principal place of business in India of the company	19 Way Road, Lucknow, Uttar Pradesh, India
This form is for	Modification of Charge
Charge identification number of the charge to be modified	10153531
Type of charge	Immovable Property Book Debts Movable Property Others
Particular of charge holder	State Bank of India, 1548A, Commercial Branch, Tilak Road, Pune-411030, Maharashtra, India
Nature of instrument creating charge	1) Supplemental Agreement of Loan-cum-hypothecation dated 23.03.2010 2) Memorandum fro Recording creation of Mortgage by deposit of title Deeds dated 23.03.2010 (Both the documents executed for single modification.)
Date of instrument Creating the charge	23.03.2010
Amount secured by the charge	Rs. 295.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest DCC: @ 0.75% p.a. above SBAR TL: @ 1.5% above SBAR with Monthly rest or rate prescribed by bank from time to time present SBAR 11.75% p.a. LC: Commission as per Agreement. Terms of Repayment As per Agreement Margin DCC: Raw Materials – 25% Semi Finished and Finished Goods – 33% Domestic Receivables : 30% SLOC: As per Agrement TL: As per Agreement BG: 25% LC: 25% Extent and Operation of the charge Type of Factory : 1 Demand cash credit of Rs. 130.000 Millions, Term Loan of Rs. 50.000 Millions, Letter of Credit Rs. 80.000 Millions, Bank Guarantee Rs. 30.000 Millions, stand by Line of Credit Rs. 5.000 Millions. Total Credit Facility of Rs. 295.000 Millions First charge by way of hypothecation on all current assets, machinery and movable assets and on all immovable property and continues till full repayment of the loan amount Others All other terms and conditions are as per agreement.
Short particulars of the property charged	Hypothecation of company’s entire stocks, stores and spares, consumabels, steel, components. Paint and chemicals, book debts and all machineries to be purchased out of bank finance. Mortgage of immovable properties. All that piece and parcel of land bearing GAT No. 366/1 (Old GAT No. 2900/2) ADM H.O. Area 27 Situated well inside the Chakan Ambethan Road, Village Kharabwadi Taluka Khed District Pune and All that piece and parcel of land of the company bearing GAT No. 373 (Old GAT No. 2907) Totally Along with Potkharba ADM 02 H 75 Ares Assessed at Rs. 06.94 paisa out of which area lying to the east ADM 00 H 40 Ares and asdn all that piece and parcel of land of the company bearing GAT No. 2907) totally along with Potkharba ADM 02 H 75 Ares Assessed at Rs. 06.94 paisa out of which area lying to the east adm 00 H 40 Ares situated at Village Kharabwadi Taluka Khed District Pune and All that piece and parcel of land in the name of Roll Metal N Section. Bearing Plot No. 43 ADM 2800 sq.mts. out of GAT No. 358, 361, 362 and 365 (Old No. 2892, 2895, 2896, 2901) situated at Village Kharabwdi Taluka Khed Pune.
Date of instrument modifying the charge	22.06.2009
Particulars of the present modification	Facilities enhanced upto Rs. 295.000 Millions ands Extension of hypothecation on all current assets and movable assets and immovable properties already charges and additional security given viz charge on all machineries and all that piece and parcel of two lands bearing Gat No. 373 (Old GAT No. 2907) situate at village Kharabwadi, Taluka Khed, District Pune to Secure entire Credit Facility.

Name of the company	DTL ANCILLIARIES PUNE WORKS LIMITED
Presented By	DTL ANCILLIARIES PUNE WORKS LIMITED
1) Date and description of instrument creating the change	Agreement of hypothecation dated 01.09.2003
2) Amount secured by the charge/amount owing on the securities of charge	Rs. 6.500 millions
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given	Hypothecated by way of first charge of clients book debts and receivables in respect of agreed customers.
4) Gist of the terms and conditions and extent and operation of the charge.	Rate of Interest : Interest will be charged on outstanding in the accounts opened in respect at such rate as may be determined by the factor from time to time at the factor’s sole discretion on the basis of any internal credit rating accorded to the client or otherwise.
5) Name and Address and description of the person entitled to the charge.	SBI Factors and Commercial Services Private Limited Tara Chambers, 2^nd Floor, Mumbai – Pune Road, Wakdewadi, Pune – 411 003, Maharashtra, India
6) Date and brief description of instrument modifying the charge	Supplemental agreement of hypothecation Dated -30.07.2005
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.	Modification by way of increase in the factoring facilities from Rs. 6.500 millions to Rs. 12.500 millions.

Corporation identity number or foreign company registrations number of the company	U34102UP1996PLC020585
Name of the company	DTL ANCILLIARIES PUNE WORKS LIMITED
Address	19 Way Road, Lucknow, Uttar Pradesh, India
This Form is for	Creation of Charge
Type of Charges	· Book Debts · Movable Property · Floating Charge
Particular of the charge holder	HDFC Bank Limited Address: HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai – 400 013, Maharashtra, India Email: amitaa.gupta@hdfcbank.com CIN: L65920MH1994PLC080618
Nature or description of the instrument creating charge	Letter of Hypothecation of Stocks and book debts dated 14.08.2007
Date of the instrument creating charge	14.08.2007
Amount Secure by the charge	Rs. 25.000 millions
Brief of the principal terms and conditions and extent and operation of the charge	Rate of Interest : As per bank norms or as may be decided by the bank from time to time Terms of Repayment: On Demand Margin: As may be advised by the bank from time to time. Extent and operation of the charge: Exclusive first charge on the following: All the goods both present and future consisting of stocks, bonds, debentures, any other securities whatsoever being movables properties belonging to the borrower, both present and future. All the book debts , outstanding monies receivable claims, and bills which are now due and owing or which may at any time hereafter during the continuance of this security become due to the borrowers in the course of the business both present.
Short particulars of the Property charged	Exclusive first charge on the following: All the goods both present and future consisting of stocks, bonds, debentures, any other securities whatsoever being movables properties belonging to the borrower, both present and future. All the book debts , outstanding monies receivable claims, and bills which are now due and owing or which may at any time hereafter during the continuance of this security become due to the borrowers in the course of the business both present.

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.51.39
UK Pound	1	Rs.80.20
Euro	1	Rs.68.92

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	6
--PROFITABILIRY	1~10	4
--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	NO
--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
-	NB	New Business	-

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.