MIRA INFORM REPORT

Report Date :

10.12.2011

IDENTIFICATION DETAILS

Name :	ASSOCIATED ALUMINIUM INDUSTRIES PRIVATE LIMITED
Registered Office :	B 1, Tulsi Vihar, Dr. Annie Besant Road, Worli, Mumbai – 400 018, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	15.03.1972
Com. Reg. No.:	11-015684
Capital Investment / Paid-up Capital :	Rs.19.350 Millions
CIN No.: [Company Identification No.]	U27203MH1972PTC015684
TAN No.: [Tax Deduction & Collection Account No.]	MUMA20127C/ MUMA22430C
PAN No.: [Permanent Account No.]	AAACA4473G
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Die Alloy, Alluminium Sheet and Circle etc.
No. of Employees :	140 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (49)

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

Maximum Credit Limit :	USD 1100000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a well 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 dealing 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.

INFORMATION PARTED BY

Name :	Mr. R. K. Vasne
Designation :	Vice President Finance
Contact No.:	91-9702037553
Date :	10.12.2011

LOCATIONS

Registered Office :	B 1, Tulsi Vihar, Dr. Annie Besant Road, Worli, Mumbai – 400 018, Maharashtra, India
Tel. No.:	91-22-40457100/ 40457152/ 24921722
Mobile No.:	91-9702037553 (Mr. R. K. Vasne)
Fax No.:	91-22-24936888
E-Mail :	aai@associatedgroup.com vasne@associatedgroup.com info@associatedgroup.com
Website :	http://www.associatedgroup.com
Area :	4500 sq ft (Approximately)
Location :	Owned
Factory 1 :	Survey No. 8, Village Khutali, Khanvel District, Silvassa - 396 230, Union Territory, India
Location :	Owned
Factory 2 :	Located at: · Taloja, Maharashtra, India

DIRECTORS

AS ON 13.09.2011

Name :	Mr. Lalit Kumar Daga
Designation :	Chairman
Address :	5-B, Purshotam Bhavan, Little Gibbs Road, Mumbai – 400 006, Maharashtra, India
Date of Birth/Age :	10.10.1942
Qualification :	B. Com
Date of Appointment :	15.03.1975
DIN No.:	00089905

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	U29256WB1962PTC025371	TRUTOOLS INDIA PRIVATE LIMITED	Director	20-01-62	20-01-62	17-01-08	Active	NO
2	U27203MH1972PTC015684	ASSOCIATED ALUMINIUM INDUSTRIES PRIVATE LIMITED.	Director	15-03-72	15-03-72	-	Active	NO
3	U25200MH1970PTC014899	DAGA RUBBER WORKS PRIVATE LIMITED	Director	05-12-72	05-12-72	-	Active	NO
4	U27100MH1981PTC025074	ASSOCIATED NON-FERROUS METALS PRIVATE LIMITED	Director	25-08-81	25-08-81	-	Active	NO
5	U65993MH1982PLC028250	ASHISH TRADING AND AGENCY LIMITED	Director	28-09-82	28-09-82	-	Active	NO
6	U67120MH1983PLC031151	RANGOLI HOLDINGS LIMITED	Director	22-10-83	22-10-83	-	Active	NO
7	U51900MH1984PLC033114	ALPINE TRADING AND FINANCE LIMITED	Director	11-06-84	11-06-84	-	Active	NO
8	U67120MH1982PTC026923	VAIBHAV HOLDINGS PRIVATE LIMITED	Director	23-07-84	23-07-84	-	Active	NO
9	L27300MH1983PLC029360	NILKANTH ENGINEERING LIMITED	Director	30-09-86	30-09-86	-	Active	NO
10	L51900MH1980PLC022672	G D TRADING AND AGENCIES LIMITED	Director	26-12-86	26-12-86	10-07-08	Active	NO
11	U71110MH1984PLC033885	JAYCHANDRA LEASING AND INVESTMENTS LIMITED	Director	26-12-86	26-12-86	30-09-10	Active	NO
12	L28920MH1987PLC043472	HIND ALUMINIUM INDUSTRIES LIMITED	Director	12-05-87	12-05-87	-	Active	NO
13	U55100MH1988GAP046130	VAIBHAV MEDICAL AND EDUCATION FOUNDATION	Director	05-02-88	05-02-88	-	Active	NO
14	U80300MH1987GAP042663	G.D.BIRLA MEDICAL RESEARCH AND EDUCATION FOUNDATION	Director	14-03-88	14-03-88	-	Active	NO
15	U67120MH1980PTC023476	BIRLA GROUP HOLDINGS PRIVATE LIMITED	Director	10-05-88	10-05-88	-	Active	NO
16	U70101WB1990PTC049835	SHREE NURSINGH HOLDINGS PRIVATE LIMITED	Director	12-09-90	12-09-90	-	Active	NO
17	L52110DL1985PLC020240	MEENAKSHI STEEL INDUSTRIES LIMITED	Director	26-03-91	26-03-91	-	Active	NO
18	U74900MH1984PTC032159	ADITYA BIRLA AHURA CENTRE MANAGEMENT PRIVATE LIMITED	Director	30-08-93	30-08-93	-	Active	NO
19	U32201GJ1980PTC003950	DYNAVENT AIR SYSTEMS PRIVATE LIMITED	Director	06-09-93	06-09-93	-	Active	NO
20	U70101MP1986PTC003444	SESHASAYEE PROPERTIES PRIVATE LIMITED	Director	13-06-94	13-06-94	-	Active	NO
21	U65990MH1994PTC083320	DAGA CAPITAL MANAGEMENT PRIVATE LIMITED	Director	29-11-94	29-11-94	-	Active	NO
22	U67120MH1995PTC088230	SHUBHMANGAL PORTFOLIO PRIVATE LIMITED	Director	26-06-96	26-06-96	-	Active	NO
23	L51900MH1985PLC036668	NIRAV COMMERCIALS LIMITED	Director	10-07-96	10-07-96	-	Active	NO
24	U67120MH1995PTC092652	SATYAM PRIMA CAPITAL PRIVATE LIMITED	Director	10-04-03	10-04-03	-	Active	NO
25	U51900MH1982PTC026120	VINIT IMPEX PRIVATE LIMITED	Director	23-08-04	23-08-04	-	Active	NO
26	U01100MH1979PTC021284	DNYANESHWAR HYBREED SEEDS COMPANY PRIVATE LIMITED	Director	23-08-06	23-08-06	-	Active	NO
27	U27200MH1971NPL015343	ALL INDIA NON-FERROUS METAL INDUSTRIES ASSOCIATION	Director	14-09-06	14-09-06	-	Active	NO
28	U45200MH2005PLC154628	TVS INFRASTRUCTURE LIMITED	Director	29-09-08	18-12-07	-	Active	NO
29	U74950MH1989PTC053146	BABYDOLL AND WIZKID COMMUNICATION PRIVATE LIMITED	Director	03-04-08	03-04-08	-	Active	NO
30	U70101MH1975PTC018702	URVI ESTATE PRIVATE LIMITED	Director	03-04-08	03-04-08	-	Active	NO
31	U01122PN2007PTC130504	GOODWILL CULTIVATORS PRIVATE LIMITED	Director	30-09-08	09-05-08	-	Active	NO
32	U80210MH2008NPL188385	LALIT SHEELA DAGA FOUNDATION	Director	21-11-08	21-11-08	-	Active	NO
33	U28133MH2011PTC218026	HIND POWER PRODUCTS PRIVATE LIMITED	Director	30-05-11	30-05-11	-	Active	NO

Name :	Mr. Shailesh Daga
Designation :	Director
Address :	5-B, Purshotam Bhavan, Little Gibbs Road, Mumbai – 400 006, Maharashtra, India
Date of Birth/Age :	19.03.1968
Qualification :	MBA
Date of Appointment :	02.07.1986
DIN No.:	00074225

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	U27100MH1981PTC025074	ASSOCIATED NON-FERROUS METALS PRIVATE LIMITED	Director	03-07-86	03-07-86	-	Active	NO
2	L28920MH1987PLC043472	HIND ALUMINIUM INDUSTRIES LIMITED	Managing director	01-07-11	12-05-87	-	Active	NO
3	U65990MH1987PTC043557	PEIGEON FINANCE AND INVESTMENT PRIVATE LIMITED	Director	30-07-92	30-07-92	-	Active	NO
4	L17110MH1985PLC035204	KAJAL SYNTHETICS AND SILK MILLS LIMITED	Director	30-07-92	30-07-92	-	Active	NO
5	U65900MH1988PTC048551	NAMAN FINANCE AND INVESTMENT PRIVATE LIMITED	Director	30-07-92	30-07-92	-	Active	NO
6	U65990MH1988PTC048531	RUTGERS INVESTMENT AND TRADING COMPANY PRIVATE LIMITED	Director	30-07-92	30-07-92	-	Active	NO
7	U65990MH1988PTC048498	KANISHTHA FINANCE AND INVESTMENT PRIVATE LIMITED	Director	30-07-92	30-07-92	-	Active	NO
8	U65993MH1988PTC048056	GHEVAR INVESTMENTS AND TRADING COMPANY PRIVATE LIMITED	Director	30-07-92	30-07-92	01-10-08	Active	NO
9	U65990MH1987PTC043580	BENHUR INVESTMENT COMPANY PRIVATE LIMITED	Director	27-08-92	27-08-92	-	Active	NO
10	U32201GJ1980PTC003950	DYNAVENT AIR SYSTEMS PRIVATE LIMITED	Director	06-09-93	06-09-93	-	Active	NO
11	U65990MH1994PTC083320	DAGA CAPITAL MANAGEMENT PRIVATE LIMITED	Director	29-11-94	29-11-94	-	Active	NO
12	U67120MH1995PTC088230	SHUBHMANGAL PORTFOLIO PRIVATE LIMITED	Director	26-06-95	26-06-95	-	Active	NO
13	L51900MH1985PLC036668	NIRAV COMMERCIALS LIMITED	Director	19-08-97	19-08-97	-	Active	NO
14	L51909WB1983PLC035853	HERITAGE HOUSING FINANCE LIMITED	Director	26-10-97	26-10-97	-	Active	NO
15	U72900MH1999PTC118799	ECOMEDIA INFOSYSTEMS PRIVATE LIMITED	Director	28-02-00	28-02-00	14-07-09	Strike off	NO
16	U70101WB1990PTC049835	SHREE NURSINGH HOLDINGS PRIVATE LIMITED	Director	08-01-01	08-01-01	-	Active	NO
17	U67120MH1995PTC092652	SATYAM PRIMA CAPITAL PRIVATE LIMITED	Director	24-06-03	24-06-03	-	Active	NO
18	U01100MH1979PTC021284	DNYANESHWAR HYBREED SEEDS COMPANY PRIVATE LIMITED	Director	23-09-04	23-09-04	-	Active	NO
19	U45200MH2005PLC154628	TVS INFRASTRUCTURE LIMITED	Director	07-11-05	07-11-05	06-06-07	Active	NO
20	U27203MH1972PTC015684	ASSOCIATED ALUMINIUM INDUSTRIES PRIVATE LIMITED.	Director	04-01-07	04-01-07	-	Active	NO
21	U25200MH1970PTC014899	DAGA RUBBER WORKS PRIVATE LIMITED	Director	04-01-07	04-01-07	-	Active	NO
22	U67120MH1987PTC043568	PICK-ME QUICK HOLDINGS PRIVATE LIMITED	Director	09-03-07	09-03-07	-	Active	NO
23	U74950MH1989PTC053146	BABYDOLL AND WIZKID COMMUNICATION PRIVATE LIMITED	Director	03-04-08	03-04-08	-	Active	NO
24	U70101MH1975PTC018702	URVI ESTATE PRIVATE LIMITED	Director	03-04-08	03-04-08	-	Active	NO
25	U28990MH2010PTC200513	GOLANDAJ ABRASIVES PRIVATE LIMITED	Director	02-03-10	02-03-10	-	Active	NO
26	U28133MH2011PTC218026	HIND POWER PRODUCTS PRIVATE LIMITED	Director	30-05-11	30-05-11	-	Active	NO

Name :	Mr. Raghav Daga
Designation :	Director
Address :	A-1, Sett Minar, 1^st Floor, 16-A, Dr. G.R. Deshmukh Marg, Mumbai – 400 026, Maharashtra, India
Date of Birth/Age :	05.11.1972
Qualification :	CA, MBA
Date of Appointment :	01.08.1998
DIN No.:	00084553

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	U25200MH1970PTC014899	DAGA RUBBER WORKS PRIVATE LIMITED	Director	07-11-90	07-11-90	Active	NO
2	U67120MH1982PLC027789	FIVE-STAR TRADING AND INVESTMENT COMPANY LIMITED	Director	03-09-93	03-09-93	Active	NO
3	U67120MH1982PLC027788	RAJASHREE HOLDINGS LIMITED	Director	03-09-93	03-09-93	Active	NO
4	U17120MH1983PLC029380	JATAYU TEXTILES AND INDUSTRIES LIMITED	Director	07-09-93	07-09-93	Active	NO
5	U32201GJ1980PTC003950	DYNAVENT AIR SYSTEMS PRIVATE LIMITED	Director	04-11-93	04-11-93	Active	NO
6	U27100MH1981PTC025074	ASSOCIATED NON-FERROUS METALS PRIVATE LIMITED	Director	04-11-93	04-11-93	Active	NO
7	U27203MH1972PTC015684	ASSOCIATED ALUMINIUM INDUSTRIES PRIVATE LIMITED.	Director	01-08-98	01-08-98	Active	NO
8	U70101WB1990PTC049835	SHREE NURSINGH HOLDINGS PRIVATE LIMITED	Director	08-01-01	08-01-01	Active	NO
9	U51900MH1982PTC026120	VINIT IMPEX PRIVATE LIMITED	Director	23-08-04	23-08-04	Active	NO
10	U74950MH1989PTC053146	BABYDOLL AND WIZKID COMMUNICATION PRIVATE LIMITED	Director	03-04-08	03-04-08	Active	NO
11	U70101MH1975PTC018702	URVI ESTATE PRIVATE LIMITED	Director	03-04-08	03-04-08	Active	NO
12	U28990MH2010PTC200513	GOLANDAJ ABRASIVES PRIVATE LIMITED	Director	02-03-10	02-03-10	Active	NO
13	U28133MH2011PTC218026	HIND POWER PRODUCTS PRIVATE LIMITED	Director	30-05-11	30-05-11	Active	NO

KEY EXECUTIVES

Name :	Mr. R. K. Vasne
Designation :	Vice President Finance

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 13.09.2011

Names of Shareholders	No. of Shares
Lalit Kumar Daga jointly with Sheela Daga	366600
Daga Rubber Works Private Limited, India	180000
Sheela Daga jointly with Lalit Kumar Daga	363291
L.K. Daga and Sons – HUF	202095
Associated Non-Ferrous Metals Private Limited, India	180000
Hind Aluminium Industries Limited, India	45000
Daga Capital Management Private Limited, India	22500
Shubhmangal Portfolio Private Limited, India	139014
Dynavent Airsystems Private Limited, India	180000
Shailesh Daga	45000
Rashmi Daga	22500
Raghav Daga	180000
Lalit Shaikesh Daga – HUF	9000
Total	1935000

AS ON 13.09.2011

Equity Shares Break Up	Percentage
Bodies corporate	38.60
Directors or relatives of Directors	61.40
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Die Alloy, Alluminium Sheet and Circle etc.
Products :	· Flipped Wire Rods · EC Wire Rods · Alloy Ingots
Terms :
Selling :	Cash, Credit 30/ 60 days
Purchasing :	Cash, Credit 30/ 60 days

GENERAL INFORMATION

Customers :

Automobiles Company

No. of Employees :

140 (Approximately)

Bankers :

• Standard Chartered Bank, 90, M.G. Road, Fort, Mumbai - 400 001, Maharashtra, India
• United Bank of India, Hotel Oberoi Towers Branch, Nariman Point, Mumbai – 400 021, Maharashtra, India
• ICICI Bank Limited

Facilities :

Secured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
Rupee term loans secured
Rupee term loans banks secured	8.509	16.309
Working capital loans secured
Working capital loans banks secured	166.109	115.587
Loans taken for fixed assets secured
Loans taken for vehicles secured	4.612	5.082
Total	179.230	136.978
Unsecured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
Foreign currency loans unsecured
Foreign currency loans others unsecured	15.172	23.766
Total	15.172	23.766

Banking Relations :	--
Auditors :
Name :	Karnavat and Company Chartered Accountants
Address :	2, Kitab Mahal, 192, D. Naroji Road, Mumbai – 400 001, Maharashtra, India
Associates/Subsidiaries :	Hind Aluminium Industries Limited CIN No.: L28920MH1987PLC043472 Nirav Commercials Limited CIN No.: L51900MH1985PLC036668 Associated Non-Ferrous Metals Private Limited CIN No.: U27100MH1981PTC025074 Daga Rubber Works Private Limited CIN No.: U25200MH1970PTC014899 Dynavent Air Systems Private Limited CIN No.: U32201GJ1980PTC003950 Dnyaneshwar Hybreed Seeds Company Private Limited CIN No.: U01100MH1979PTC021284 Babydoll And Wizkid Communication Private Limited CIN No.: U74950MH1989PTC053146 Urvi Estate Private Limited CIN No.: U70101MH1975PTC018702 Daga Capital Management Private Limited CIN No.: U65990MH1994PTC083320 Shubhmangal Portfolio Private Limited CIN No.: U67120MH1995PTC088230 Satyam Prima Capital Private Limited CIN No.: U67120MH1995PTC092652 Vinit Impex Private Limited CIN No.: U51900MH1982PTC026120

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
3500000	Equity Shares	Rs.10/- each	Rs. 35.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1935000	Equity Shares	Rs.10/- each	Rs. 19.350 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		19.350	19.350	19.350
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		271.623	235.122	183.999
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		290.973	254.472	203.349
LOAN FUNDS
1] Secured Loans		179.230	136.978	73.524
2] Unsecured Loans		15.172	23.766	24.133
TOTAL BORROWING		194.402	160.744	97.657
DEFERRED TAX LIABILITIES		15.850	19.505	16.403
TOTAL		501.225	434.721	317.409
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		97.717	107.012	111.705
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		103.093	74.806	47.402
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	150.824	84.852	39.817
	Sundry Debtors	153.685	151.564	133.853
	Cash & Bank Balances	32.557	12.129	6.106
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	162.154	167.183	188.469
Total Current Assets		499.220	415.728	368.245
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	189.620	156.146	202.635
	Other Current Liabilities	5.660	6.639	6.636
	Provisions	3.525	0.040	0.672
Total Current Liabilities		198.805	162.825	209.943
Net Current Assets		300.415	252.903	158.302
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		501.225	434.721	317.409

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	2140.200	1541.200	1572.853
		Other Income			22.352
		TOTAL (A)	2140.200	1541.200	1595.205
Less	EXPENSES
		Raw Material Consumed			1117.694
		Traded Goods Purchased	2075.600	1460.300	316.653
		Manufacturing, Administrative, Selling and Distribution Expenses			111.042
		Payment to Employees			11.003
		Increase/(Decrease) in Finished Goods			1.996
		Increase/(Decrease) in Excise Duty			(1.585)
		TOTAL (B)	2075.600	1460.300	1556.803
			[Including	[Including
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		Financial Expenses]	Financial Expenses]	38.402
Less	INTEREST & FINANCIAL EXPENSES (D)				9.615
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		64.600	80.900	28.787
Less/ Add	DEPRECIATION/ AMORTISATION (F)		14.100	13.500	12.973
	PROFIT BEFORE TAX (E-F) (G)		50.500	67.400	15.814
Less	TAX (H)		13.900	16.100	4.860
	PROFIT AFTER TAX (G-H) (I)		36.600	51.300	20.674
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		206.900	155.600	134.941
	BALANCE CARRIED TO THE B/S		243.500	206.900	155.615
	IMPORTS
		Raw Materials	NA	NA	32.369
		Traded Goods	NA	NA	38.224
	TOTAL IMPORTS		NA	NA	70.593
	Earnings Per Share (Rs.)		18.91	26.51	10.68

Expected Sales (2011-2012) : Rs. 2700.000 Millions.

The above information has been parted by Mr. R. K. Vasne.

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.71	74.11	1.30
Net Profit Margin (PBT/Sales)	(%)	NA	NA	1.01
Return on Total Assets (PBT/Total Assets}	(%)	8.46	12.89	3.29
Return on Investment (ROI) (PBT/Networth)		0.17	0.26	0.08
Debt Equity Ratio (Total Liability/Networth)		1.41	1.35	1.51
Current Ratio (Current Asset/Current Liability)		2.51	2.55	1.75

LOCAL AGENCY FURTHER INFORMATION

Details of Sundry Creditors:

(Rs. in millions)

Particulars	31.03.2011	31.03.2010	31.03.2009
Sundry Creditors:
Creditors Due Small Micro Enterprises	0.000	0.000	198.923
Creditors due Others	189.620	156.146	3.712
Total	189.620	156.146	202.635

Check List by Info Agents	Available in Report (Yes / No)
1. Year of Establishment	Yes
2. Locality of the firm	Yes
3. Constructions 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%	Yes
14. Estimation for coming financial year	Yes
15. Capital in the business	No
16. Details of sister concerns	Yes
17. Major suppliers	No
18. Major customers	No
19. Payments terms	Yes
20. Export / Import details	------
21. Market information	------
22. Litigations that the firm / promoter involved	------
23. Banking Details	Yes
24. Banking facility details	No
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	------

FORM 8

Corporate identity number of the company	U27203MH1972PTC015684
Name of the company	ASSOCIATED ALUMINIUM INDUSTRIES PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	B 1, Tulsi Vihar, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India E-Mail: aai@associatedgroup.com
This form is for	Modification of charge
Charge identification number of the modified	90165680
Type of charge	Immovable Property Book Debts Movable Property Floating Charge
Particular of charge holder	United Bank of India, Hotel Oberoi Towers Branch, Nariman Point, Mumbai – 400 021, Maharashtra, India E-Mail: bmhot@unitedbank.co.in
Nature of description of the instrument creating or modifying the charge	Equitable mortgage and Hypothecation on Wind Power Generation Project at Survey No.66/4 at Village; Akhatwade; District Nandurbar (Maharashtra), 1st Charge on entire fixed assets of Company's Silvassa and Taloja works including existing equitable mortgage on land and bldg. of Taloja unit, extension of hypothecation charge of entire current assets (present and to be created in future) covered the entire limit of Rs.292.800 millions has modified to Rs.104.260 millions only.
Date of instrument Creating the charge	13/01/2010
Amount secured by the charge	Rs.104.260 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest: As agreed with United Bank of India Terms of Repayment: As agreed with United Bank of India
Short particulars of the property charged	Company works at Plot No.10, MIDC Industrial Area, Taloja - 410208; District; Raigad Company works at Survey No.9/1 and 9/2, Village; Khutali, Khanvel-Doodhani Road, Near Khanvel, District; Silvassa (UT of DNH). Property bearing Survey No.66/4, adm. area 1.68 hectare, as per 7/12 extract 0.81 hectare (R) as per schedule of class 1, situated at Village Akhatwade, Taluka; Nandurbar, District Nandurbar (Maharashtra).
Date of latest modification prior to the present modification	08/06/2006
Particulars of the present modification	1. Overall credit limit reduced to Rs.104.260 millions by way of 1st charge on entire fixed assets of the Company at Plot No.9/1 and 9/2 at Silvassa, Plot No.10 at Taloja and Survey No.66/4 at Nandurbar including existing equitable mortgage on land and building of Taloja unit. 2. Hypothecation charge on entire current assets (present and to be created in future) ranking pari-passu with Standard Chartered Bank, 90 M.G. Road, Fort, Mumbai-400001 covering the entire credit limit of Rs.104.260 millions.

FIXED ASSETS:

· Leasehold Land

· Buildings

· Office Premises

· Plant and Machinery

· Electrical Fittings

· Office Equipment

· Furniture and Fittings

· Vehicles

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. 52.22
UK Pound	1	Rs. 81.54
Euro	1	Rs. 69.60

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--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		49

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.