MIRA INFORM REPORT

Report Date :

23.12.2011

IDENTIFICATION DETAILS

Name :	INDOFIL INDUSTRIES LIMITED (w.e.f. 05.10.2010)
Formerly Known As :	INDOFIL ORGANIC INDUSTRIES LIMITED
Registered Office :	Kalpataru Square, 4^th Floor, Off Andheri Kurla Road, Andheri (East), Mumbai-400 059, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	09.02.1993
Com. Reg. No.:	11-070713
Capital Investment / Paid-up Capital :	Rs.153.492 Millions
CIN No.: [Company Identification No.]	U24110MH1993PLC070713
TAN No.: [Tax Deduction & Collection Account No.]	MUM107395D
PAN No.: [Permanent Account No.]	AABC14568D
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Plastic Chemicals.
No. of Employees :	300 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (52)

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

Maximum Credit Limit :	USD 7330000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is an established company having fine track. Financial position of the company is good. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments. The company can be considered good for normal 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.

INFORMATION DENIED BY

Management Non Co-operative

LOCATIONS

Registered Office :	Kalpataru Square, 4^th Floor, Off Andheri Kurla Road, Andheri (East), Mumbai-400 059, Maharashtra, India
Tel No.:	91-22-66637373
Fax No.:	91-22-28322272
E-Mail :	indofilcs-icc@modi.com indofil@modi.com
Website :	www.indofilcc.com
Factory 1 :	Off, S. V. Road, Azad Nagar, Sandoz Baug, Thane - 400607, Maharashtra, India
Tel No.:	91-22-67999100
Factory 2 :	Plot No. Z -7-1/ Z-8/6 SEZ, Dahej, Taluka Vagra, District Bharauch – 392130, Gujarat, India
International Office :	C/o Geda BP SRL, Via Rosellini N.-12-20124 Milano, Italy
Tel. No.:	39-02-66823785
Fax No.:	39-02-66801328

DIRECTORS

As on 30.08.2011

Name :

Mr. Krishan Kumar Modi

Designation :

Director

Address :

A- 1, Maharani Bagh, New Delhi-110065, India

Date of Birth/Age :

27.08.1940

Date of Appointment :

09.02.1993

DIN No.:

00029407

Other Directorship :

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
L65993UP1965PLC003082	Modipon Limited	Director	19/08/1965	19/08/1965	25/01/2007	Active	NO
L15429UP1932PLC000469	Modi Industries Limited	Director	30/04/1970	30/04/1970	-	Active	NO
L17111UP1946PLC001428	Modi Spinning and Weaving Mills Company Limited	Director	12/02/1976	12/02/1976	-	Active	NO
L16004MH1936PLC008587	Godfrey Phillips India Lmited	Managing director	14/08/2009	5/11/1979	-	Active	NO
U65101DL1992PTC049846	K K Modi Investment and Financial Services Private Limited	Director	5/08/1992	5/08/1992	-	Active	NO
U74900DL1993PLC051770	Modicare Sales and Services Limited	Director	18/01/1993	18/01/1993	-	Strike off	NO
U74899DL1993PLC051769	Home Communication Network Limited	Director	18/01/1993	18/01/1993	1/03/2002	Active	NO
U24110MH1993PLC070713	Indofil Industries Limited	Director	9/02/1993	9/02/1993	-	Active	NO
U51900MH1994PTC078793	W D Consumer Products Private Limited	Director	6/06/1994	6/06/1994	-	Strike off	NO
U74899DL1995PLC064964	Modi Entertainment Limited	Director	2/02/1995	2/02/1995	-	Active	YES
U74899DL1995PLC072562	Indian Cricket League Limited	Director	19/09/1995	19/09/1995	-	Active	NO
U92100MH1995PTC093949	Modi New World India Private Limited	Director	26/10/1995	26/10/1995	-	Active	NO
U92110MH1997PTC104951	Modi Films Enterprises Private Limited	Director	8/01/1997	8/01/1997	-	Strike off	NO
U92113DL1997PTC085957	Modi Entertainers Networks Private Limited	Director	19/03/1997	19/03/1997	-	Strike off	NO
U74899DL1994PLC060724	Modi Reach Finance and Investment (India) Limited	Director	27/08/1997	27/08/1997	-	Active	NO
U72200DL1973PLC110617	Modi Care Limited	Director	18/03/2000	18/03/2000	-	Active	NO
U67120DL1979PTC114042	Indo Euro Investment Company Private Limited	Director	18/03/2000	18/03/2000	-	Active	NO
U29309DL1983PLC016948	Modern Home Care Products Limited	Director	30/03/2000	30/03/2000	-	Active	NO
U67120UP1980PTC004955	Touch Wood Investment Private Limited	Director	25/05/2000	25/05/2000	-	Active	NO
U74899DL2000PLC106938	Men Interactive Network Limited	Director	24/07/2000	24/07/2000	-	Active	NO
U72900MH2000PTC129737	Juniorbuzz.Com India Private Limited	Director	24/11/2000	24/11/2000	-	Strike off	NO
U72200MH2000PTC124841	Criclive Com India Private Limited	Director	31/08/2001	31/08/2001	-	Active	NO
U80302DL2001PTC113471	Modi Apollo International Group Private Limited	Director	14/12/2001	14/12/2001	-	Active	NO
U74140MH2001PTC132192	Marketing and Brand Solutions (India) Private Limited	Director	4/07/2003	4/07/2003	-	Active	NO
U24297UP1992PTC014505	Amber Chemicals Private Limited	Director	27/11/2004	27/11/2004	-	Active	NO
L51909DL1985PLC021077	Premium Merchants Limited	Director	27/04/2005	27/04/2005	-	Active	NO
U74999DL1996PTC080090	KKM Management Centre Private Limited	Director	19/07/2005	19/07/2005	4/11/2010	Active	NO
U72200DL2006PTC152685	Europower Techno-Systems Private Limited	Director	29/08/2006	29/08/2006	-	Strike off	NO
U65993DL1979PLC010060	Good Investments (India) Limited	Director	10/08/2007	7/03/2007	-	Active	NO
U80903DL2009PTC196740	Modi Ati Education Private Limited	Director	23/01/2010	8/12/2009	-	Active	NO
U74999MH2007PTC168696	Doruka Designs Private Limited	Director	14/05/2010	14/05/2010	-	Active	NO
U92100MH2005PTC155785	Voyages Entertainment Private Limited	Director	27/03/2011	27/03/2011	-	Active	NO
U92132MH2001PTC134159	Fashion Television India Private Limited	Director	27/03/2011	27/03/2011	-	Active	NO
U24233GJ2011PTC065293	Indo Baijin Chemicals Private Limited	Additional director	30/05/2011	30/05/2011	-	Active	NO

Name :

Charu Bhartia

Designation :

Whole-time director

Address :

A- 1, Maharani Bagh, New Delhi-110 065, India

Date of Birth/Age :

28.10.1962

Date of Appointment :

27.07.2002

DIN No.:

00029625

Other Directorship :

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
U67120UP1980PTC004955	Touch Wood Investment Private Limited	Director	9/08/1982	9/08/1982	-	Active	NO
U72200DL1973PLC110617	Modi Care Limited	Director	18/03/2000	18/03/2000	-	Active	NO
U67120DL1979PTC114042	Indo Euro Investment Company Private Limited	Director	18/03/2000	18/03/2000	-	Active	NO
U74899DL1995PLC064964	Modi Entertainment Limited	Director	29/03/2000	29/03/2000	-	Active	YES
U74899DL1994PLC060724	Modi Reach Finance And Investment (India) Limited	Director	30/03/2000	30/03/2000	-	Active	NO
U29309DL1983PLC016948	Modern Home Care Products Limited	Director	30/03/2000	30/03/2000	-	Active	NO
U74899DL2000PLC106938	Men Interactive Network Limited	Director	7/08/2000	7/08/2000	-	Active	NO
U74999DL2001PTC113262	Modi Healthcare Placement India Private Limited	Director	23/11/2001	23/11/2001	16/07/2007	Active	NO
U80302DL2001PTC113471	Modi Apollo International Group Private Limited	Managing director	14/12/2001	14/12/2001	-	Active	NO
U65993DL2001PTC113464	Charu Investments Private Limited	Director	28/12/2001	28/12/2001	-	Active	NO
U24110MH1993PLC070713	Indofil Industries Limited	Whole-time director	1/04/2009	27/07/2002	-	Active	NO
U74140MH2001PTC132192	Marketing and Brand Solutions (India) Private Limited	Director	4/07/2003	4/07/2003	-	Active	NO
U74999DL1996PTC080090	KKM Management Centre Private Limited	Director	19/07/2005	19/07/2005	14/12/2010	Active	NO
L65993UP1965PLC003082	Modipon Limited	Director	1/08/2005	1/08/2005	25/01/2007	Active	NO
U65101DL1992PTC049846	K K Modi Investment and Financial Services Private Limited	Director	30/09/2008	11/03/2008	-	Active	NO
U80903DL2009PTC196740	Modi ATI Education Private Limited	Additional director	23/01/2010	23/01/2010	-	Active	NO

Name :

Mr. Lalit Kumar Modi

Designation :

Director

Address :

A- 1, Maharani Bagh, New Delhi-110065, India

Date of Birth/Age :

29.11.1963

Date of Appointment :

09.02.1993

DIN No.:

00029520

Other Directorship :

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
U67120UP1980PTC004955	Touch Wood Investment Private Limited	Director	23/12/1981	23/12/1981	-	Active	NO
U72200DL1973PLC110617	Modi Care Limited	Director	1/01/1987	1/01/1987	-	Active	NO
L16004MH1936PLC008587	Godfrey Phillips India Lmited	Director	1/08/2010	21/08/1989	-	Active	NO
U67120DL1979PTC114042	Indo Euro Investment Company Private Limited	Director	29/02/1992	29/02/1992	-	Active	NO
U65101DL1992PTC049846	K K Modi Investment And Financial Services Private Limited	Director	5/08/1992	5/08/1992	-	Active	NO
U17118MP1989PLC005568	Success Principles India Limited	Director	30/10/1992	30/10/1992	-	Active	NO
U74900DL1993PLC051770	Modicare Sales and Services Limited	Director	18/01/1993	18/01/1993	17/01/2011	Strike off	NO
U74899DL1993PLC051769	Home Communication Network Limited	Director	18/01/1993	18/01/1993	1/03/2002	Active	NO
U24110MH1993PLC070713	Indofil Industries Limited	Director	9/02/1993	9/02/1993	-	Active	NO
U51900MH1994PTC078793	W D Consumer Products Private Limited	Director	6/06/1994	6/06/1994	28/12/2010	Strike off	NO
U74899DL1995PLC064964	Modi Entertainment Limited	Director	2/02/1995	2/02/1995	-	Active	YES
U74899DL1995PLC072562	Indian Cricket League Limited	Director	19/09/1995	19/09/1995	-	Active	NO
U92100MH1995PTC093949	Modi New World India Private Limited	Director	26/10/1995	26/10/1995	-	Active	NO
U92110MH1997PTC104951	Modi Films Enterprises Private Limited	Director	8/01/1997	8/01/1997	21/12/2010	Strike off	NO
U92113DL1997PTC085957	Modi Entertainers Networks Private Limited	Director	19/03/1997	19/03/1997	17/01/2011	Strike off	NO
U74899DL1994PLC060724	Modi Reach Finance and Investment (India) Limited	Director	30/03/2000	30/03/2000	-	Active	NO
U29309DL1983PLC016948	Modern Home Care Products Limited	Director	30/03/2000	30/03/2000	-	Active	NO
U74899DL2000PLC106938	Men Interactive Network Limited	Director	24/07/2000	24/07/2000	-	Active	NO
U72900MH2000PTC129737	Juniorbuzz.Com India Private Limited	Director	24/11/2000	24/11/2000	28/12/2010	Strike off	NO
U72200MH2000PTC124841	Criclive Com India Private Limited	Director	31/08/2001	31/08/2001	-	Active	NO
U80302DL2001PTC113471	Modi Apollo International Group Private Limited	Director	14/12/2001	14/12/2001	-	Active	NO
U74140MH2001PTC132192	Marketing and Brand Solutions (India) Private Limited	Director	4/07/2003	4/07/2003	-	Active	NO
U74999DL1996PTC080090	KKM Management Centre Private Limited	Director	19/07/2005	19/07/2005	4/11/2010	Active	NO
U45201RJ2006PTC022952	Ananda Heritage Hotels Private Limited	Director	18/09/2007	18/09/2007	-	Active	NO

Name :

Mr. Samir Kumar Modi

Designation :

Director

Address :

A- 1, Maharani Bagh, New Delhi-110065, Delhi, India

Date of Birth/Age :

15.12.1969

Date of Appointment :

09.02.1993

DIN No.:

00029554

Other Directorship :

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
U72200DL1973PLC110617	Modi Care Limited	Managing director	1/02/1992	1/02/1992	-	Active	NO
U65101DL1992PTC049846	K K Modi Investment and Financial Services Private Limited	Director	5/08/1992	5/08/1992	-	Active	NO
U74899DL1993PLC051769	Home Communication Network Limited	Director	18/01/1993	18/01/1993	1/03/2002	Active	NO
U24110MH1993PLC070713	Indofil Industries Limited	Director	9/02/1993	9/02/1993	-	Active	NO
L16004MH1936PLC008587	Godfrey Phillips India Limited	Whole-time director	1/09/2010	11/01/1994	-	Active	NO
U29309DL1983PLC016948	Modern Home Care Products Limited	Director	27/09/1994	27/09/1994	-	Active	NO
U74899DL1995PLC064964	Modi Entertainment Limited	Director	2/02/1995	2/02/1995	-	Active	YES
U74900DL1993PLC051770	Modicare Sales and Services Limited	Director	15/03/1995	15/03/1995	-	Strike off	NO
U67120DL1979PTC114042	Indo Euro Investment Company Private Limited	Director	7/06/1995	7/06/1995	-	Active	NO
U74899DL1995PLC072562	Indian Cricket League Limited	Director	19/09/1995	19/09/1995	-	Active	NO
U92100MH1995PTC093949	Modi New World India Private Limited	Director	26/10/1995	26/10/1995	-	Active	NO
U92110MH1997PTC104951	Modi Films Enterprises Private Limited	Director	8/01/1997	8/01/1997	-	Strike off	NO
U92113DL1997PTC085957	Modi Entertainers Networks Private Limited	Director	19/03/1997	19/03/1997	-	Strike off	NO
U67120UP1980PTC004955	Touch Wood Investment Private Limited	Director	19/08/1997	19/08/1997	-	Active	NO
U74899DL1994PLC060724	Modi Reach Finance and Investment (India) Limited	Director	27/08/1997	27/08/1997	-	Active	NO
U17118MP1989PLC005568	Success Principles India Limited	Director	30/09/1999	30/09/1999	-	Active	NO
U74899DL2000PLC106938	Men Interactive Network Limited	Director	24/07/2000	24/07/2000	-	Active	NO
U72900MH2000PTC129737	Juniorbuzz.Com India Private Limited	Director	24/11/2000	24/11/2000	-	Strike off	NO
U72200MH2000PTC124841	Criclive Com India Private Limited	Director	31/08/2001	31/08/2001	-	Active	NO
U74140MH2001PTC132192	Marketing and Brand Solutions (India) Private Limited	Director	4/07/2003	4/07/2003	-	Active	NO
U24246DL2004PTC125599	Colorbar Cosmetics Private Limited	Director	2/04/2004	2/04/2004	-	Active	NO
U51909DL2004PTC129422	Serendipity Enterprises Private Limited	Director	27/09/2004	27/09/2004	-	Active	NO
U52110DL2004PTC129421	Twenty Four Seven Retail Stores Private Limited	Director	27/09/2004	27/09/2004	-	Active	NO
U74999DL1996PTC080090	KKM Management Centre Private Limited	Director	19/07/2005	19/07/2005	4/11/2010	Active	NO
U80302DL2001PTC113471	Modi Apollo International Group Private Limited	Director	14/03/2007	14/03/2007	-	Active	NO
U22219DL2007PTC161659	Serendipity Design Private Limited	Director	4/04/2007	4/04/2007	-	Active	NO
U52390DL2009PTC192241	Modi Brands Private Limited	Director	15/07/2009	15/07/2009	-	Active	NO
U74999DL2009PTC192242	Real Time Tolling Solutions Private Limited	Director	15/07/2009	15/07/2009	-	Active	NO

Name :

Jayaraman Ramachandran

Designation :

Director

Address :

417, Faculty Quarters, Indian Institute of Management, Bannerghatta, Bangalore-560076, Karnataka, India

Date of Birth/Age :

01.06.1957

Date of Appointment :

06.04.2007

DIN No.:

00004593

Other Directorship :

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
U74300KA1998PTC024546	Integrated Brand Communication Private Limited	Director	18/12/1998	18/12/1998	-	Active	NO
U85110KA1998PLC024450	Indus-League Clothing Limited	Director	17/04/1999	17/04/1999	15/02/2008	Active	NO
L72100KA1989PLC014226	Sasken Communication Technologies Limited	Director	15/06/2000	15/06/2000	-	Active	NO
U51397DL2005PTC190519	Lifetime Healthcare Private Limited	Director	1/04/2005	1/04/2005	21/11/2008	Amalgamated	NO
U64203MH1997PLC166329	Reliance Communications Infrastructure Limited	Director	26/06/2005	26/06/2005	16/08/2010	Active	NO
U40101KA1986PLC007404	Bhoruka Power Corporation Limited	Director	8/12/2005	8/12/2005	-	Active	NO
L45309MH2004PLC147531	Reliance Communications Limited	Director	17/07/2007	7/02/2006	-	Active	NO
L52599TN1961PLC028758	Redington (India) Limited	Director	21/11/2006	21/11/2006	-	Active	NO
U24239MH2001PTC131153	Accutest Research Laboratories India Private Limited	Director	31/10/2007	12/12/2006	12/03/2008	Active	NO
U24110MH1993PLC070713	Indofil Industries Limited	Director	17/08/2007	6/04/2007	-	Active	NO
U72900KA2000PLC026980	Tejas Networks Limited	Director	3/08/2007	26/04/2007	-	Active	NO
U35204KA1996PTC020766	Aditya Auto Products and Engineering (India) Private Limited	Additional director	30/09/2008	30/09/2008	-	Active	NO
L72200AP1991PLC013134	Infotech Enterprises Limited	Director	1/07/2009	17/11/2008	-	Active	NO
U65999TN2005PLC069447	Easyaccess Financial Services Limited	Director	16/06/2010	21/05/2010	-	Active	NO

Name :

Mr. Mahendra Naranji Thakkar

Designation :

Director

Address :

133/134, Chandramani, 7^th Floor, Telang X Road No.3, Matunga, Mumbai-400019, Maharashtra, India

Date of Birth/Age :

17.10.1941

Date of Appointment :

06.04.2007

DIN No.:

00268818

Other Directorship :

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
U27310AP1985PLC005423	Samkrg Pistons and Rings Limited	Director	6/11/1998	6/11/1998	-	Active	NO
U24110MH1993PLC070713	Indofil Industries Limited	Director	17/08/2007	6/04/2007	-	Active	NO
L24230MH1984PLC034771	Bliss GVS Pharma Limited	Director	31/07/2007	31/07/2007	31/01/2011	Active	NO
L85110KA1986PLC008020	Bangalore Softsell Limited	Director	30/09/2008	29/10/2007	-	Active	NO

Name :

Mr. Sanjay Ramakant Buch

Designation :

Director appointed in casual vacancy

Address :

7/31, Bandra Sona Housing Complex, Krishnachandra Marg, Bandra (West), Mumbai-400050, Maharashtra, India

Date of Birth/Age :

26.09.1968

Date of Appointment :

11.08.2009

DIN No.:

00391436

Other Directorship :

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
U24246AP1989PTC010416	SS Oral Hygiene Products Private Limited	Director	3/12/1999	3/12/1999	-	Amalgamated	NO
L99999MH1951PLC008485	Dil Limited	Director	14/09/2007	28/04/2007	-	Active	NO
U99999MH1993PTC074256	Agfa India Private Limited	Director	27/11/2008	7/04/2008	18/01/2010	Active	NO
U72900MH2008FTC186575	Emhart Teknologies (India) Private Limited	Director	9/09/2008	9/09/2008	16/09/2010	Active	NO
U31409KA2008FTC047837	Black & Decker India Private Limited	Director	23/09/2008	23/09/2008	18/01/2010	Active	NO
U24110MH1993PLC070713	Indofil Industries Limited	Director appointed in casual vacancy	11/08/2009	11/08/2009	-	Active	NO
U63090MH1983PTC161369	Transways Combines Private Limited (Transfer)	Additional director	29/08/2009	29/08/2009	30/09/2009	Active	NO
U99999MH1986PLC134021	Fermenta Biotech Limited	Director	27/09/2010	22/01/2010	-	Active	NO
U93000MH2010FTC211208	Sealcom India Private Limited	Director	22/12/2010	22/12/2010	-	Active	NO

Name :

Mr. Munesh Khanna

Designation :

Director

Address :

Beachwood House, Ground Floor, Jussawala Wadi, Juhu, Mumbai - 400049, Maharashtra, India

Date of Birth/Age :

12.05.1962

Date of Appointment :

06.04.2007

DIN No.:

00202521

Other Directorship :

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
U24110MH1993PLC070713	Indofil Industries Limited	Director	17/08/2007	6/04/2007	-	Active	NO
U51909MH2007PTC170716	Leading Age Trading Private Limited	Director	1/09/2007	1/09/2007	1/09/2007	Active	NO
L17119GJ1931PLC000093	Arvind Limited	Director	31/07/2008	27/10/2007	-	Active	NO
U67120MH1995PTC084237	Caption Investments and Trading Company Private Limited	Director	1/11/2007	1/11/2007	-	Active	NO
U65910GJ1993PLC020228	Edelweiss Financial Advisors Limited	Director	29/09/2008	19/02/2008	25/05/2009	Active	NO
U45400MH2007PTC175585	Youth Properties Private Limited	Director	15/03/2008	15/03/2008	-	Active	YES
U24130MH1994PLC142451	Garware Bestretch Limited	Additional director	17/11/2008	17/11/2008	25/03/2009	Active	NO
U17113MH1975PLC018620	Garware Elastomerics Limited	Additional director	17/11/2008	17/11/2008	25/03/2009	Active	NO
U65999MH2009PTC189564	Resonus Advisors Private limited	Director	14/01/2009	14/01/2009	-	Active	NO
U64201GJ1995PLC024598	Arvind Lifestyle Brands Limited	Director	24/09/2010	31/10/2009	-	Active	NO
U18101GJ2007PLC050217	Arvind Retail Limited	Director	24/09/2010	31/10/2009	-	Active	NO
U65999MH2010FTC208856	Ashmore-Centrum India Opportunities Investment Advisers Private Limited	Director	11/10/2010	11/10/2010	-	Active	NO
U85191MH2011NPL216343	Solutions India for Social Development	Director	16/04/2011	16/04/2011	-	Active	NO

Name :

Mr. Sunil Kumar Alagh

Designation :

Director

Address :

12 C, IL Palazzo, Little GIBBS Road, Malabar Hill, Mumbai-400006, Maharashtra, India

Date of Birth/Age :

06.11.1946

Date of Appointment :

06.04.2007

DIN No.:

00103320

Other Directorship :

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
U74999MH2003PTC142685	SKA Advisors Private Limited	Director	15/10/2003	15/10/2003	-	Active	NO
L63011AP1995PLC020121	Gati Limited	Director	22/04/2004	22/04/2004	-	Active	NO
L36999KA1999PLC025195	United Breweries Limited	Director	29/04/2005	29/04/2005	-	Active	NO
U67190MH2004PTC146677	Tamara Capital Advisors Private Limited	Director	30/04/2005	30/04/2005	29/12/2010	Active	NO
U67120MH1997PLC110386	HSBC Invest direct (India) Limited	Director	25/07/2006	11/10/2005	29/09/2008	Active	NO
U72900DL2006PTC144396	Eon Premedia Private Limited	Director	10/08/2006	10/08/2006	14/01/2011	Active	NO
U15421RJ1945SGC000285	Rajasthan State Ganganagar Sugar Mills Limited	Director	11/09/2006	11/09/2006	24/12/2008	Active	NO
U24110MH1993PLC070713	Indofil Industries Limited	Director	17/08/2007	6/04/2007	-	Active	NO
U60232AP2008PLC057692	Gati Import Export Trading Limited	Director	28/12/2010	28/12/2010	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Inder Kumar Gupta
Designation :	Secretary
Address :	402, Trishul Kaushambhi Apartment, Ghaziabad – 201010, Uttar Pradesh, India
Date of Birth/Age :	10.08.1938
Date of Appointment :	29.08.2008
PAN No. :	AAPTG1714C

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.08.2011

Names of Shareholders	No. of Shares
Sudha Pandit	225
Dinesh Roopchand Bik	300
Ashok Bhat	525
Kamalakar Gaokar	300
Abhishek Kumar Gaddh	200
Dineshbhai Laxmidas	300
Premlata B Hatangdi	150
Rajeshwar Prasad Swa	181
Ashwani K Vasdani	200
Priya Prafulla Tare	131
Mallika Rajubhai Pat	100
Babubhai S Ravat	240
Kanubhai Chavda	191
Binita Rani Agarwal	250
Harendra Desai	200
Mahendra Chaturbhai	400
Prashant R Dhondale	275
Dhondale Ramachandra	500
Shantilal V Dedhia	300
Rajni Chaturvedi	300
Murli Manohar Mahesh	600
Fateh Singh	1500

Equity Share Break up (Percentage of Total Equity)

As on 30.08.2011

Category	Percentage
Government companies	9.45
Public financial companies	1.44
Mutual funds	0.01
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	14.59
Bodies corporate	61.10
Directors or relatives of Directors	2.46
Other top fifty shareholders	2.97
Others	7.98
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Plastic Chemicals.

Products :

Item Code No. (ITC Code)	3808
Product Description	Pesticides
Item Code No. (ITC Code)	3906
Product Description	Acrylic Emulsion

PRODUCTION STATUS (As on 31.03.2010)

Particulars	Unit	Installed Capacity	Actual Production
Technicals	MT/KL	40750****	24673**
Other Agro Formulations	MT/KL	14540	5753
S and P Chemicals	MT/KL	13200	11086
Other Chemical Purchased	MT/KL	--	719

Note:

** Production of saleable products includes captive consumption.

**** This capacity includes Dahej production capacity which commenced its commercial production in October 2010.

GENERAL INFORMATION

No. of Employees :

300 (Approximately)

Bankers :

• Union Bank of India, Union Bank Bhavan, Nariman Point, Mumbai - 400021, Maharashtra, India
• Standard Chartered Bank, Standard Chartered Towers, 3rd floor, 201B/1, western Express Highway, Goregaon (East), Mumbai - 400063, Maharashtra, India
• HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India

Facilities :

Secured Loans	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
Long Term Loans: From Institutional Banks
Sicom Limited (Repayable within one year Rs.46.000 Millions Previous Year Rs.58.000 Millions)	207.000	174.000
Development Credit Bank Limited (Repayable within one year Rs.18.000 Millions Previous Year Rs.18.000 Millions)	36.000	54.000
Union Bank of India- Indian Currency Loan (Repayable within one year Rs.40.000 Millions Previous Year Rs.40.000 Millions)	130.000	161.804
Union Bank of India- Foreign Currency Loan (Repayable within one year Rs.28.331 Millions Previous Year Rs. Nil)	113.325	0.000
Shamrao Vithal Co-operative Bank Limited (Repayable within one year Rs.37.500 Millions Previous Year Rs. Nil)	200.000	0.000
(Above all loans are secured by a first charge of company fixed assets, and second charge on current assets and other movable assets, both present and future inters the consortium Bankers)
Standard Chartered Banks (Repayable within one year Rs.18.045 Millions Previous Year Rs. Nil) (Secured by specific Assets financed)	293.492	0.000
From Others Hire purchase Loans (Repayable within one year Rs.5.629 Millions. Previous Year Rs. Nil) (Secured by specific Assets financed)	28.306	11.967
Short term loan from the consortium Bankers: Cash credit/ Working Capital demand Loan (Issued by a first pari passu charge, by way of hypothecation of company’s current assets and other movable assets and second pari passu charge on the fixed assets both present and future inter se the term Lenders)	1407.676	1388.021
Total	2415.799	1789.792
Unsecured Loans	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
From Institutions/ Banks:
IIBI Limited (Repayable within one year Rs. Nil Previous Year Rs. Nil)	7.000	7.000
Total	7.000	7.000

Banking Relations :	--
Auditors :
Name :	M. M. Bilimoria and Company Chartered Accountants
Address :	101 Sharda Chambers, Sir Vithaldas Thackersey Marg, Mumbai-400030, Maharashtra, India
PAN.:	AABPB3927E
Subsidiaries :	· Good investment India Limited, India CIN No.: U65993DL1979PLC010060 · Quick Investment India Limited , India CIN No.: U65993DL1979PLC010018
Promoter Group Companies:	· Godfrey Philips India Limited · HMA Udyog Private Limited · Modi Care Limited · Modi Entertainment Limited · Beacon Travels Limited · K. K. Modi Investment and Financial Services Private Limited · Bina Fashions N Food Private Limited · Premium Merchants limited
Associates :	Hifil Chemicals Private Limited

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
44000000	Equity Shares	Rs.10/- each	Rs.440.000 Millions
600000	6% Non Cumulative Redeemable Preference Shares	Rs.100/- each	Rs.60.000 Millions
	Total		Rs.500.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
11807086	Equity Shares (Of the above 11757086 Equity Shares of Rs.10/- each issued to shareholder of Modipon Limited as fully paid up without payment being received in cash)	Rs.10/- each	Rs.118.071 Millions
8855314	Equity shares of Rs.10/- each paid up Rs.4/- each		Rs.35.421 Millions
	Total		Rs.153.492 Millions

As on 30.08.2011

Authorised Capital : Rs.500.000 Millions

Issued Capital, Subscribed,Paid-up Capital ::

No. of Shares	Type	Value	Amount
11807086	Equity Shares	Rs.10/- each	Rs.118.071 Millions
8855314	Equity Shares of Rs.10/- each paid up Rs.7/- each		Rs.61.987 Millions
	Less : Calls-in-arrears		Rs.0.067 Millions
20662400	Total		Rs.179.991 Millions

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		153.492	153.492	168.871
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		1679.743	1046.678	571.492
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1833.235	1200.170	740.363
LOAN FUNDS
1] Secured Loans		2415.799	1789.792	956.551
2] Unsecured Loans		7.000	7.000	7.000
TOTAL BORROWING		2422.799	1796.792	963.551
DEFERRED TAX LIABILITIES		97.890	68.146	25.717
TOTAL		4353.924	3065.108	1729.631
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1751.719	319.988	277.082
Capital work-in-progress		353.415	579.161	116.154
INVESTMENT		219.801	219.752	63.428
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1297.037	821.303	726.123
	Sundry Debtors	1846.796	1905.386	1206.979
	Cash & Bank Balances	18.680	36.522	124.292
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	310.010	308.662	303.818
Total Current Assets		3472.523	3071.873	2361.212
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	889.973	660.091	660.274
	Other Current Liabilities	445.048	321.957	318.065
	Provisions	108.513	143.618	109.906
Total Current Liabilities		1443.534	1125.666	1088.245
Net Current Assets		2028.989	1946.207	1272.967
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		4353.924	3065.108	1729.631

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	7403.272	5973.112	4159.191
		Other Income	109.380	112.412	58.330
		TOTAL (A)	7512.652	6085.524	4217.521
Less	EXPENSES
		Material Consumed	3518.750	3433.182	2432.991
		Personnel Expenses	508.785	399.969	304.374
		Operational and other Expenses	2136.857	1484.715	1143.629
		TOTAL (B)	6164.392	5317.866	3880.994
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		1348.260	767.658	336.527
Less	FINANCIAL EXPENSES (D)		229.510	195.914	110.068
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1118.750	571.744	226.459
Less/ Add	DEPRECIATION/ AMORTISATION (F)		115.500	48.156	35.882
	PROFIT BEFORE TAX (E-F) (G)		1003.250	523.588	190.577
Less	TAX (H)		316.312	196.132	56.979
	PROFIT AFTER TAX (G-H) (I)		686.938	327.456	133.598
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		400.333	185.803	82.945
Less	APPROPRIATIONS
		Dividend on Shares	46.047	25.109	14.855
		Dividend Tax	7.826	4.267	2.525
		General Reserve	68.694	32.750	13.360
		Capital redemption Reserve	0.000	50.800	0.000
	BALANCE CARRIED TO THE B/S		964.704	400.333	185.803
	EARNINGS IN FOREIGN CURRENCY
		FOB value	2825.729	2216.162	786.183
	TOTAL EARNINGS		2825.729	2216.162	786.183
	IMPORTS
		Raw Materials	1239.832	1538.864	1076.214
		Stores & Spares	1.095	0.888	1.659
		Capital Goods	85.671	0.839	1.417
	TOTAL IMPORTS		1326.598	1540.591	1079.29
	Earnings Per Share (Rs.)		44.75	26.06	11.01

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	9.14	5.38	3.17
Net Profit Margin (PBT/Sales)	(%)	13.55	8.77	4.58
Return on Total Assets (PBT/Total Assets}	(%)	19.20	15.44	7.22
Return on Investment (ROI) (PBT/Networth)		0.55	0.44	0.26
Debt Equity Ratio (Total Liability/Networth)		2.11	2.44	2.77
Current Ratio (Current Asset/Current Liability)		2.41	2.73	2.17

LOCAL AGENCY FURTHER INFORMATION

SUNDRY CREDITORS DETAILS:

(Rs. in Millions)

Particulars	31.03.2010	31.03.2009	31.03.2008
Sundry Creditors	889.973	660.091	660.274
Total	889.973	660.091	660.274

Note:

The registered address of the company Nirlon House, Dr. Annie Besant Road, Worli, Mumbai – 400025, Maharashtra, India has been shifted to the present address w.e.f. 01.10.2010

PERFORMANCE REVIEW

Having successfully weathered the storm of recession and global slowdown, the Company has been able to record an all time high sales and exports. The strategic initiatives adopted by the Company have yielded results in all its functional areas. The Company has also launched new fungicide products Avtar and Merger in various States which have achieved success.

TOTAL INCOME

In the year 2009-10, the gross revenue from Agro Chemical division increased by 20% over the previous year generating revenue of Rs.7075.700 Millions as against Rs.5876.100 Millions in 2008-09. The Specialty Chemical division witnessed a growth of 23% in revenue, reaching Rs.841.300 Millions in 2009-10 from Rs.684.500 Millions in 2008-09. During this year, the Company's total revenue increased to Rs.7933.900 Millions against Rs.6580.900 Millions In the previous year, thereby registering a growth of 21% over the last fiscal.

PRODUCTION

The production of the Agrochemicals Division for the year 2009-10 has been 30,426 MT as against 21,001 MT in the previous year and the sales have been 27,798 MT as against 20,982 MT in the previous year.

In case of Specialty Chemicals Division, the production has been 11,086 MT against 8,437 MT in the previous year and the sales have been 11,406 MT against 9,533 MT in the previous year.

EXPORTS

The exports for the year 2009-10 has been Rs.2891.100 Millions compared to Rs.2270.300 Millions in the previous year with a substantial growth in the Agrochemicals division-This has been a result of the shift in the Company's export strategy to add big corporate to its clientele. The Company has also initiated special steps to further enhance the exports of both its Agrochemicals and Specialty and Performance Chemicals divisions.

EXPANSION

With the commissioning of the expansion project at Dahej during the year, the commercial production for the same has also been initiated. The Company has, in full swing, started the expansion of the manufacturing capacity of the plant at Dahej. It is expected to commence commercial production during the year ending March 31, 2011.

The Company has undertaken project viz. Project Lakshya and Project Udan which have given impetus to growth. The Company has also undertaken Project Dhruv for nurturing leaders In its business. In order to ensure satisfaction and prosperity of its customers, the Company has been constantly providing customised solutions with a more focused approach. To meet the growing global demand for its products, a Joint Venture Company, namely, HlFlL Chemicals Private Limited has been formed in collaboration with Zhejiang Hisun Chemicals Company Limited, China, to manufacture various molecules from the basic to intermediate stage and convert to a final technical product at the Company's Plant in India.

CHANGE OF NAME

In order to enable the Company to avail larger business opportunities, required steps to change the name of the Company from "Indofii Organic Industries Limited" to "Indofii Limited", have been initiated. This is subject to the availability of name, with the Registrar of Companies, approval of shareholders of the Company and of the Central Government.

INDIAN AND GLOBAL AGRO CHEMICALS INDUSTRY

Agriculture represents the mainstay of the Indian economy. It contributes 18.5% to India's GDP, growing steadily at 4% and accounts for 15% of total export. The agricultural sector employs nearly 58% of the workforce. The agricultural output, however, depends on monsoons as nearly 60% of area sown Is dependent on rainfall. Last year's deficient monsoon, coupled with an estimated loss of Rs.1,400 billion of farming output due to pests, has forced the Indian government to pay more attention to agriculture and food security. With a 1.13-billion population, growing at about 1.6% annually, India demands more agriculture and food products. The declining availability of arable land acts as a crucial factor, stimulating market growth and accelerating India's move towards increasing food yield for internal consumption as well as exports. The Indian government is focusing on better irrigation, use of fertilisers, agrochemicals and genetically modified seeds to improve yield.

Agrochemicals are used to prevent the destruction of crops from insect pests, diseases, weeds and rodents, among others. Hence, they play a vital role in reducing crop losses, benefiting farmers economically and ensuring, food safety and security for the nation.

Broadly, the industry is segmented into insecticides, fungicides and herbicides. In volume terms, the Indian agrochemical industry is second in Asia after China and 12th globally. The size of the Indian agrochemicals industry, in value terms, is estimated at Rs.83 billion, which includes exports worth Rs.35 billion. India produces around 90,000 tons of pesticides a year. As the crops are mainly sown in two cropping seasons, namely Kharif (July - November) and Habi (October-February), the demand for agrochemicals is seasonal.

Besides the demand is skewed in favour of Kharif crops with about 70% of annual agrochemical consumption. At present, the industry has about 400 formulators in addition to 30-40 large manufacturers. The country’s low manufacturing cost and qualified manpower represent its enduring strengths, enabling India to establish itself as a net exporter of pesticides to over 110 countries globally. But domestically agrochemical consumption is low in India, despite having a predominantly agrarian economy. Industry sources confirm only 30% of the crop area is under pesticides, protection. Andhra Pradesh, Maharashtra, Gujarat and Punjab represent top four states in per capita use of pesticides. India produces approximately 16% of the world’s total food grain production and uses only around 2% of pesticides. India’s agrichemical consumption is 0.48 kg per hectare, one of the world’s lowest. This is due to fragmented land holdings, low level of irrigation, high monsoon dependence and low pesticide awareness among farmers about the benefits of using pesticides, among others.

Consumption of Agro Chemicals

Globally, the agrochemical industry has grown at a CAGR of 7.1% over CY 2001-08 to US$41.7 billion. For CY 2008, the industry registered an outstanding 25% growth on the back of volume growth and increase in prices. However, for CY 2009, it witnessed an 11% decline to US537 billion, following a drop in agrochemical prices and economic recession.

INDIA'S AGRICULTURE SCENARIO IN 2009-10

The year 2009-10 was a difficult year owing to the severe shortfall in Southwest monsoon precipitation, accelerated by the floods of late September and early October 2009. Moreover, the erratic monsoons and drought like conditions in large parts of the country reinforced the supply side bottlenecks in some of the essential commodities. According to the Indian Meteorological Department the 2009 monsoon was the third worst in over 100 years since 1901, with a rainfall deficiency of 23% across the country. On the other hand, in October 2009, Andhra Pradesh experienced the heaviest flood in 106 years.

There was a sharp momentum in food prices, leading to the emergence of double-digit food inflation in the country. After growing consistently in the preceding few years, agricultural growth is estimated to have recorded a marginal fall of 0.20% in 2009-10. However, there is a silver lining: the industry is expected to record a healthy 5% and 4% growth in 2010-11 and 2012-12, respectively

SPECIALTY AND PERFORMANCE CHEMICALS

Specialty chemicals are produced at a low volume, are high-priced and target a wide variety of markets. Virtually in every manufacturing industry the use of specialty chemical can be found. These chemicals are developed under user specifications, which usually vary from one user to another. The methods of development depend on the application and the function of the chemicals. Notably, the specialty industry requires the best technical know-how. Based on the application of the chemicals and the user industry, the specialty chemical has been segmented into several sub categories like automotive chemicals, construction chemicals, refining chemicals, paper chemicals, mining chemicals, water treatment chemicals and so on. The Indian specialty chemicals market is about Rs.200000.000 Millions with a 12% CAGR. The specialty chemical companies are now likely to focus on cost-effective imitations, rather than original innovation in the short term. India is now emerging as a sourcing point for Western MNCs, either shifting their manufacturing base or sourcing from India. At present, lndofil's specialty chemicals division caters to include leather, textile, plastic, coatings and construction chemicals.

FORM 8

Corporate identity number of the company	U24110MH1993PLC070713
Name of the company	INDOFIL INDUSTRIES LIMITED
Address of the registered office or of the principal place of business in India of the company	Kalpataru Square, 4th Floor, Off Andheri Kurla Road, Andheri (East), Mumbai – 400059, Maharashtra, India Email Id : indofilcs-icc@modi.com
This form is for	Creation of charge
Type of charge	Immovable property
Particular of charge holder	Union Bank of India, IFB, 1^st Floor, Union Bank Bhavan, 239, Vidhan Bhavan Marg, Nariman Point, Mumbai – 400021, Maharashtra, India Email Id : katkar@unionbankofindia.com
Nature of instrument creating charge	Memorandum of deposit of title deeds dated 09.11.2011 evidencing the deposit of title deeds made by the Company for creation of EM in respect of its immovable properties listed out in II Schedule thereto to secure the limits granted by Term Lenders on 1st paripassu basis and WC Lenders on 2nd paripassu basis as detailed in 3rd Schedule thereto
Date of instrument Creating the charge	09.11.2011
Amount secured by the charge	Rs.5694.900 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest As per Sanction Letters issued by the respective Lenders/Banks or as stipulated by them from time to time Terms of repayment As per Sanction Letters issued by the respective Lenders or as stipulated by them from time to time Margin As per Sanction Letters issued by the respective Lenders or as stipulated by them from time to time Extent and operation of the charge Credit facilities agg. to Rs.5694.900 Millions sanctioned by Term Lenders and WC Lenders (as listed in Schedule III of Memorandum dated 09/11/2011) are secured by EM by deposit of Title Deeds created by the Company in respect of its immovable properties situated at Dahez SEZ, and Thane as detailed in II Schedule of Memorandum dated 09/11/2011
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Equitable Mortgage of Company's immovable property being Plot No. Z-7-1/Z-8, situated in Dahej SEZ, Taluka Vagra, District Bharuch 392130, Gujarat, India admeasuring 112749.85 Sq.Mts EM of Co's immovable property being land admg 45768 sq.yds, 968 sq.yds, 4840 sq.yds and 1453 sq.yds or thereabouts situated in Village Kolshet Taluka and District Thane, Maharashtra, India

FIXED ASSETS

· Land - Freehold

· Land – Leasehold

· Factory Buildings

· Non – Factory Buildings

· Plant and Machinery

· Other Plant Equipment

· Furniture and Fixture

· Vehicles

· Office and Other Equipment

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.52.72
UK Pound	1	Rs.82.71
Euro	1	Rs.68.90

SCORE & RATING EXPLANATIONS

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

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	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.