MIRA INFORM REPORT

Report Date :

17.02.2011

IDENTIFICATION DETAILS

Name :	NEW HOLLAND FIAT (INDIA) PRIVATE LIMITED
Formerly Known As :	FIAT INDIA PRIVATE LIMITED
Registered Office :	303, Central Plaza, 166, CST Road, Kalina, Santacruz (East), Mumbai – 400098, Maharashtra
Country :	India
Financials (as on) :	31.12.2009
Date of Incorporation :	23.11.1992
Com. Reg. No.:	11-69675
CIN No.: [Company Identification No.]	U29220MH1992PTC069675
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Agricultural and Construction Equipments.

RATING & COMMENTS

MIRA’s Rating :

B (26)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 44212000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track. There appears some accumulated losses recorded by the company. However trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution.

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. Arvind Agarwal
Designation :	Accounts Manager
Contact No.:	91-120-3056301
Date :	16.02.2011

LOCATIONS

Registered Office :	303, Central Plaza, 166, CST Road, Kalina, Santacruz (East), Mumbai – 400098, Maharashtra, India
Tel. No.:	91-22-30007701-08
Fax No.:	91-22-30007709
E-Mail :	vineet.harlalka@cnh.com service@fiat.com
Website :	www.newhollandindia.co.in
Head Office (Tractor Division) :	Plot No. 09, Suite No. - 301 and 304, Copia Corporate Suite, Jasola District, Centre, New Delhi – 110 044, India
Tel No.:	91-11- 46727100
Fax No.:	91-11- 46727171
Administrative Office :	Level No. 1, Ragus Trade Centre, Bandra Kurla Complex, Mumbai-400051, Maharashtra, India
Tel. No.:	91-22-40700436
Factory 1 :	Tractor Division Plot No. 03, Udyog Kendra, Grater Noida – 201306, District Gautam Budh Nagar, Uttar Pradesh, India
Tel. No.:	91-120-3056000
Fax No.:	91-120-3056989
Factory 2 :	Parts Division Plot No. 3, Udyog Kendra, Greater Noida – 201306, District Gautam Budhagar, Uttar Pradesh, India
Tel. No.:	91-120-3056000
Fax No.:	91-120-3056949

DIRECTORS

As on 17.02.2010

Name :	Mr. Ezio Barra
Designation :	Director
Address :	Via Stazione 51/A, 10060 None, Torino Italy
Date of Birth/Age :	18.12.1951
Date of Appointment :	20.03.2008
Name :	Mr. Stefano Reganzani
Designation :	Director
Address :	Via G Chiabera N 42, Italy
Date of Birth/Age :	31.03.1965
Date of cessation :	03.06.2008
Name :	Mr. Mario Gasparri
Designation :	Managing Director
Address :	69, Friends Colony (West), New Delhi-110065, India
Date of Birth/Age :	01.10.1960
Date of Appointment :	10.10.2008
Name :	Mr. Rakesh Malhotra
Designation :	Director
Address :	228, Bhera Enclave, Delhi-110087, India
Date of Birth/Age :	06.04.1958
Date of Appointment :	25.09.2008
Name :	Mr. Stefano Pampalone
Designation :	Managing Director
Address :	Istinye Hill Park, SIT 47, Parsel, CS Istinye, Sariyer IST, Turkey
Date of Birth/Age :	09.11.1967
Date of Appointment :	14.09.2009

KEY EXECUTIVES

Name :	Mr. Arvind Agarwal
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.03.2010

Names of Shareholders (Equity Shares)	No. of Shares
Fiat Group Automobiles SPA (Class A), Italy	3799998
Fiat India Automobiles Private Limited (Class A), India	1
Sibille Alberto (Class A), Italy	1
CNH Asian Holding Limited NV (Class A), Belgium	3645916
CNH Asian Holding Limited NV (Class B), Belgium	116723086
Total	124169002

Names of Shareholders (Preference Shares)	No. of Shares
Fiat Group Automobiles SPA, Italy	686472
Total	686472

As on 17.02.2010

Equity Share Breakup	Percentage of Holding
Category
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Agricultural And Construction Equipments.
Products :	v Agricultural Tractors v Harvesting Equipment v Hay and Forge Equipment v Supporting Attachment

PRODUCTION STATUS (As on 31.12.2009)

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Tractor	Nos.	24200	24200	*20977

* Excludes 9 cars capitalized / Scraped

GENERAL INFORMATION

No. of Employees :

Information declined by the management

Bankers :

Not Available

Facilities :

Unsecured Loans	31.12.2009 Rs. In Millions	31.12.2008 Rs. In Millions
a. Short term loans from Bank	--	2700.000
b. Bank Overdraft	--	74.634
Total	--	2774.634

Banking Relations :	-
Auditors :
Name :	Deloitte Haskins and Sells Chartered Accountants
Address :	7^th Floor, Building 10, Tower B, DLF Cyber City Complex, DLF City Phase – II, Gurgaon – 122 002, Haryana, India
Tel. No.:	91-124-6792000
Fax No.:	91-124-6792012
Holding company :	Fiat Group Automobiles SpA
Ultimate Holding Company:	Fiat SpA
Fellow Subsidiaries :	Automotive Lighting Polska Sp. Z.o.o. Fiat Automobile AG Fiat Group Purchasing SRL Fiat Partecipazionl India Private Limited Magneti Marelli Do Brasil Industria e Camercio SA. Sevel Isvor Dealer net SRL Nanjing Fiat Fiat Sundaram Auto Finance Limited CNH Global NV Fiat Revi CNH America LLC CNH ltalia S.p.A CNH U.K Limited Case Corporation Pty Limited CNH Trade NV Iveco S.p.A Turk Traktors ve Ziraat CNH Global NV CNH Belgium Limited NV New Holland Tractors Limited NV CNH Services Sri CNH Latin America Limited, Brazil CNH France SA CNH International S.A CNH Services (Thailand) limited Fiat Group Automobiles, South Africa Fiat Sepin S. c. p. a CNH Australia PTY Limited CNH Commercial S.A de C.V., Mexico CNH Industrial SA de C.V., Mexico

CAPITAL STRUCTURE

As on 31.12.2009

Authorised Capital :

No. of Shares	Type	Value	Amount
30000000	Equity Shares (Class A)	Rs.100/- each	Rs.3000.000 Millions
120000000	Equity Shares (Class B)	Rs.100/- each	Rs.12000.000 Millions
50000000	9% Convertible Non-Cumulative Non-Participating Redeemable Preference Shares	Rs.100/- each	Rs.5000.000 Millions
	Total		Rs. 20000.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
7445916	Equity Shares (Class A)	Rs.100/- each	Rs.744.592 Millions
116723086	Equity Shares (Class B)	Rs.100/- each	Rs.11672.309 Millions
686472	9% Convertible Non-Cumulative Non-Participating Redeemable Preference Shares	Rs.100/- each	Rs.68.647 Millions
	Total		Rs.12485.548 Millions

Notes:

1. 3,799,999 Class A, Equity Shares of Rs.100 each fully paid are held by Fiat Group Automobiles S.p.A., the holding Company, and 1 (Previous period 1) Class A, Equity Share of Rs. 100 each by Fiat India Automobiles Private limited.

2. 3,645,916 'Class A' equity shares of Rs.100 each and 116,723,086 'Class B' equity shares of Rs.100 each were allotted to the CNH Asian Holding limited NV (shareholders of the erstwhile New Holland Tractors India Private limited) aggregating Rs.12036.900 millions towards consideration for the merger with the Company.

3. 686,472 9% Convertible Non-Cumulative Non-Participating Redeemable Preference Shares of Rs.100 each are held by Fiat Group Automobiles S.p.A, the holding company.

4. 686,472 9% Convertible Non-Cumulative Non-Participating Redeemable preference shares of Rs.100 each are convertible into 686,472 equity shares of Rs. 100 each at the option of Fiat Group Automobiles S.p.A, the preference shareholder. Any preference shares which remain unconverted into equity shares of Rs. 100 each are redeemable at such time, as may be deemed fit by the Board of Directors, subject to a maximum of twenty years from the date of issue together with a redemption premium of Rs. 5 per preference share.

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.12.2009	31.12.2008 (9 Months)	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		12485.548	12485.548	448.647
2] Share Application Money		0.000	0.000	12036.900
3] Reserves & Surplus		5788.367	5788.367	5788.367
4] (Accumulated Losses)		(7220.997)	(6870.050)	(6326.698)
NETWORTH		11052.918	11403.865	11947.216
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	2774.634	515.000
TOTAL BORROWING		0.000	2774.634	515.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		11052.918	14178.499	12462.216
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		6607.855	7251.507	8665.748
Capital work-in-progress		150.556	1000.819	238.447
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1591.095	1502.985	1686.343
	Sundry Debtors	1916.760	2532.649	2205.377
	Cash & Bank Balances	2272.356	344.822	357.219
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	1021.060	4211.030	2145.440
Total Current Assets		6801.271	8591.486	6394.379
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1919.928	2057.818	2351.814
	Other Current Liabilities	358.839	392.946	380.895
	Provisions	227.997	214.549	103.649
Total Current Liabilities		2506.764	2665.313	2836.358
Net Current Assets		4294.507	5926.173	3558.021
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		11052.918	14178.499	12462.216

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.12.2009	31.12.2008 (9 Months)	31.03.2008
	SALES
		Income	11977.000	10520.071	12057.311
		Other Income		571.547	1427.502
		TOTAL (A)	11977.000	11091.618	13484.813
Less	EXPENSES
		Raw Material Consumed	9913.000	6817.454	8683.978
		Purchases made for re-sale		1258.054	965.951
		Excise Duty		0.000	20.548
		Payment to and provision fort employees		397.017	518.151
		Operating and other expenses		1149.975	1736.259
		Increase/ Decrease in stock		215.068	(116.986)
		TOTAL (B)	9913.000	9799.251	11807.901
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		2064.000	1292.367	1676.912
Less	FINANCIAL EXPENSES (D)		286.000	249.237	155.708
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		1778.000	1043.130	1521.204
Less/ Add	DEPRECIATION/ AMORTISATION (F)		2127.000	1573.762	2538.890
	PROFIT BEFORE TAX (E-F) (G)		(349.000)	(530.632)	(1017.686)
Less	TAX (H)		2.000	12.720	12.446
	PROFIT AFTER TAX (G-H) (I)		(351.000)	(543.352)	(1030.132)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(6870.050)	(6326.698)	(5327.953)
	Excess provision for employees benefits as at 1.04.2007, calculated as per accounting standard 15 written back		0.000	0.000	31.387
	BALANCE CARRIED TO THE B/S		(7221)	(6870.050)	(6326.698)
	EARNINGS IN FOREIGN CURRENCY
		F.O.B. value of Exports	3241.486	3799.667	4954.747
		Service Rendered	25.103	65.298	50.234
	TOTAL EARNINGS		3266.589	3864.965	5004.981
	IMPORTS
		Raw Materials	997.004	1119.403	1640.799
		Capital Goods	319.523	134.003	104.365
		Traded Goods	36.400	0.000	0.000
		Others	10.057	9.405	40.171
	TOTAL IMPORTS		1362.984	1262.811	1785.335
	Earnings Per Share (Rs.)		(2.81)	(4.38)	(5.48)

KEY RATIOS

PARTICULARS		31.12.2009	31.12.2008 (9 Months)	31.03.2008
PAT / Total Income	(%)	(2.93)	(4.90)	(7.64)
Net Profit Margin (PBT/Sales)	(%)	NA	(5.04)	(8.44)
Return on Total Assets (PBT/Total Assets}	(%)	(2.60)	(3.67)	(6.76)
Return on Investment (ROI) (PBT/Networth)		0.03	(0.05)	(0.09)
Debt Equity Ratio (Total Liability/Networth)		0.23	0.47	0.28
Current Ratio (Current Asset/Current Liability)		2.71	3.29	2.25

LOCAL AGENCY FURTHER INFORMATION

Details of Sundry Creditors:

Particulars	31.12.2009 (Rs. in millions)	31.12.2008 (Rs. in millions)	31.03.2008 (Rs. in millions)
Sundry Creditors
i. Micro and small enterprises	--	--	--
ii. Others	1919.928	2057.818	2351.814

Note:

Registered office of the company has been shifted from Level No. 1, Ragus Trade Centre, Bandra Kurla Complex, Mumbai-400051, Maharashtra, India to the present address w.e.f. 01.06.2009

Operations and Performance:

Car Business

The Company continues the business of selling cars - model Palio under the exclusive distributor agreement with

Tala Motors Limited through its dealer network. Though, the Car industry showed a positive outlook during the year inspite of recession in world economy, the sales of Palio showed a downturn due to introduction of various new generation models by other competitors.

To support the alter sale service. the company also continues the business of model Palio's spare parts and

accessories through distributors.

Tractor Business

The Indian Tractor industry touched an ever highest figure in 2009 with growth of 11.6%. NHFI managed to post a growth of 10.3% in Domestic Market, hut at the same time de-grew @ 56.0% in Exports.

The Dealer Network continues to improve in 2009 over previous year. The network was strengthened by covering unrepresented territories and also realigning territories. 52 new dealers were added and non-performing dealers were closed down in 2009. Network productivity was also increased by 11%.

New Holland India expanded its domestic product portfolio and is now present in more than 90% of Industry domain. Product gaps were filled by introducing New Models in 32HP, 51HP and 65 HI' segment. Apart from this upgraded transmission option was made available to tap the specific application and commercial application markets.

They introduced new drive line which was in-house design. Tractors with this drive line "NDL series" were opened to domestic market from Sept' 09, Initial launch was carried out in 4 selected states of Indiu. Launch activity included Dealer launch, Salesman training and customer launch. The response from their channel partners and customers was over-whelming. This series has unique features and after full introduction and establishment by April' 10, it will help LIS to penetrate market efficiently and strengthen theirselves.

In line with the International direction, brand identity' Aapki Unnati Hamara Sankalp' was evolved for India. NHFI also participated in big way in Regional/National/International Agri fairs like PAU, Bangalore, Dharwad, Sugar Expo, AGRlMECH Delhi.

In 2009 to support farm mechanization they aggressively marketed Sugarcane harvester, Balers and Crop choppers. They are one of the first markets of Asia, where 4000 and 8000 series harvesters were introduced.

Looking at the overwhelming response of many customer focused activities (Health check up camps and service camps and Operator trainings for customers, On theJob training for channel partner manpower), they increased number of those in 2009 also, which broughtthemcloser to customer and also enhanced the customer loyalty,

During the year company also setup a new plant in Greater Noida Location for production of TLI3 Axles with an initial investment of INR 942Million and the commercial production was started in November 2009.

Amalgamation:

The Scheme of Arrangement and Amalgamation ('the Scheme') between Fiat India Private Limited ("Transferee Company") and New Holland Tractors India Private Limited ("Transferor Company") was sanctioned as per the provisions of sections 391 to 394 of the Companies Act, 1956, by the High Court of Mumbai and Delhi vide their Orders dated 8 August 2008 and 1 September 2008 respectively. The Scheme was made effective by filing certified copies of Orders with the Registrar of Companies at Mumbai and Delhi on 8 September, 2008 and 23 September, 2008, respectively. Accordingly, the effect of the same was incorporated in the accounts of the previous year from the appointed date of 1 April, 2007.

Contingent liabilities and provisions

Particulars	31.12.2009 (Rs. in millions)
A. Estimated amount of contracts remaining to be executed on capital account and not provided for [net of advances]	163.543
B. Contingent liabilities not provided in respect of:
a) Excise duty demands disputed in appeals
i. Excise matter disputed in appeal in respect of differential duty demanded on UNO valuation is pending before the Supreme Court after the Company was successful in the Central Excise and Service-tax Appellate Tribunal (CESTAT). The Company, based on legal advice, believes that there is no merit in the Authority's contention that the assessable value should be on the basis of cost of manufacture rather than invoice value.	3111.649
ii. Excise matters disputed in appeals relating to duty paid on advertisement expenses incurred by dealers, cenvat credit incorrectly availed on capital goods under certain chapters etc. These matters are pending before Custom Excise and Service tax Appellate Tribunal (CESTAT).	463.005
iii. Other show cause notices in relation to excise matters relate to admissibility of CENVAT/ MODVAT, including on capital goods, components .of cost in the valuation of goods on the basis of which excise duty levied, excise duty refundable on cars sold as taxis, etc. These matters are pending at various stages, from Deputy Commissioner to Commissioner.	688.096
b) Income tax demands disputed in appeals
i. Case decided by the Income-tax Appellate Tribunal in favor of the Company against which IT Department has filed Appeal with High Court, Mumbai (relating to computation of Taxable Income/(Loss) for assessment year 1998-99). The appeal was not accepted by the High Court, Mumbai.	Nil
ii. Pending before the Commissioner of Income-tax (Appeals), relating to disallowances in transfer pricing assessments for assessment year 2004-2005. The Assessing Officer has recommended indication of penalty proceedings, which is pending	Amount Not Ascertainable
c) Sales tax matters disputed in appeals
i. Issues mainly related to levy of additional sales-tax demanded by the Department(s) on matters like different rates, including certain amounts on the base values for charging tax, non-submission of forms, etc. These matters are pending at various stages, from Deputy Commissioner to Sales-tax Tribunal	889.434
ii. Demand of Sales Tax by Assistant Commissioner (CT), Thiruvarambur Circle, Trichy for the year 2006-07 regarding set off of Entry Tax with Sales Tax. The Appeal is decided by Joint Commissioner Appeals in favor of the company. However, the order is awaited	2.276
d) Premium on redemption of Preference Share	3.432
e) Claims against the Company not acknowledged as debts
i. in respect of labour matters involving issues like reinstatement of dismissed employees and payment of wages during the periods of dismissal, etc (to the extent ascertainable)	6.013
ii. in respect of claims (under arbitration) made by dealers whose dealerships were terminated, seeking reimbursement for loss of profit, etc.	606.000
iii. in respect of claims by customers for issues like quality problems, after sales service, etc.	24.594
iv. in respect of claims made seeking refund of UNO booking advance with interest	21.985
v. other miscellaneous matters	4.109

FIXED ASSETS:

· Leasehold Land

· Building

· Plant and Machinery

· Furniture and Fixtures

· Office and Other Equipments

· Computers

· Vehicles

· Goodwill

· Computer Software

· Technical Knowhow fees

WEBSITE DETAILS:

History:

Subject is a 100% subsidiary of USD 15bn. CNH Global, - the World’s largest Agricultural Equipments Company, the Leading manufacturer of Agricultural and construction equipment manufacturer in the world. a majority owned subsidiary of Fiat Group. Spread across 60 acres in the Greater Noida District of Uttar Pradesh, the state-of-the-art plant with an initial investment of over Rs. 2500.000 Millions, is designed on the lines of New Holland’s international manufacturing facilities. The company has focused its strength in agricultural mechanisation to build a world-class tractor company in India. It’s rationale for investment in India to be driven primarily by its long involvement and in-depth understanding of the Indian agricultural industry. Last year it produced over 23,000 tractors in 35-75 Hp segment with over a 90 per cent indigenisation. Not just India, tractors made by New Holland India have made their mark in the rest of the world. Today completely built tractors manufactured in its state-of-the-art Greater Noida plant are being exported to over 51countries in Asia, Africa and Middle East, Australia, New Zealand, Latin America and North America. A true testimony of the New Holland India quality, that the world admires.

Major Milestone:

1996 New Holland India established.

1997 Ground Breaking Ceremony of the Plant at Greater Noida.

1998 Inauguration of Training center

1998 New Holland India launched the 5630 (70 HP Tractor)

1999 Plant Inauguration and Launch of 50 HP tractor New Holland 3630

2001 New Holland 3230 (42 HP Tractor) launched

2002 New Holland 3030 (35 HP Tractor) launched

2003 New Holland 3630 TX – 55 HP Launched

2005 Launched 3630 TX+, 3130, 3600 and 5500 and 7500 models in both 2 wheel and 4 wheel drive version.

2007 New Holland NX Series(35hp, 40Hp and 45 Hp category) launched

2008 100,000th Tractor Rolled Out. 3037 NX model launched

Research and Development

With a thorough knowledge and understanding of the Indian farmer's requirements, New Holland has been able to deliver what the Indian farmer wants. This has been made possible by the extensive research done on the specific requirements of the Indian farmer, in the state-of-the-art Research and Development centre situated at Greater Noida. The New Holland India R and D centre designs, develops and tests new products for Indian as well as International markets. HI-tech 3 dimensional computer aided design tools are used to develop new products.

Extensive testing is carried out on the products designed and developed in RandD centre which includes bench testing of components. Performance and reliability tests are also done keeping in mind the actual working conditions with customers. With the name comes the commitment of a team of professionals driven by a single goal: that of putting technology into the hands of farmers, allowing them to maximise productivity most economically. The tractors not only meet but also exceed the requirements of the customers.

Industrial Operation

New Holland India has the following key operational areas:

· Engine Assembly and Testing

· Makino Machining Centre

· CED (Cathodic Electro Deposition) Paint shop

· Final Assembly and Testing

Continuous Focus on Quality

New Holland India team is always striving hard with a spirit of dedication and teamwork to establish the best international quality standards of customer satisfaction for the Indian farmer, infused with the core values and guiding principles of CNH Group worldwide.

Each tractor that leaves the plant is perfect down to the last coat of paint, which lasts for years. The plant has a special 'Makino' machining centre which provides both accuracy and precision while manufacturing complex machine parts of tractors. Not only that, it has a CED (Cathodic Electro Deposition) paint shop for longer life of the tractors.

New Holland India is the first Indian tractor company to get an ISO 9001:2000 certification for quality standards.

New Holland has implemented and integrated Supply Chain ERP system, which gives extremely flexible and controlled material management. All production staff and workers are technically qualified, and many of them have been trained in New Holland plants abroad to ensure international standards of quality and productivity

Customer Service

Parts

In New Holland, they believe the most important phase of the customer dealing starts when the machines have rolled out of the outlet. Driven by this philosophy, they provide prompt after-sales service support to all the customers through the network of over 400 dealers. These dealers' outlets store and sell New Holland genuine parts, lubes and accessories that conform to the 'New Holland stringent quality standards'. Furthermore, these tractor parts/accessories are also available through the network of 70 strategically located stockists and their retailer network of over 3000 outlets spread all over the country. To serve the needs of the Dealers and Stockists, New Holland India ware house based at Greater Noida that adequate parts, components, accessories and sub-assemblies, making New Holland capable of prompt distribution in the domestic and international markets at any point of time.

Training Centre

New Holland Training centre was established with an objective to equip New Holland Dealers and Sales and Service staff with necessary Technical and Managerial Skills to provide the customers the best services always.

The training centre is situated at the premises of State-of-the art New Holland manufacturing plant at Greater Noida, includes class rooms with multimedia presentations facilities, well equipped workshops and various tractor aggregates of complete New Holland range and wide range of implements and a big farm to provide hands-on training.

Advanced Support

New Holland India has a Web-based catalogues for tractor parts to enable field staff for placing on line order for parts.

Exports

Not just India, tractors made by New Holland India have made their mark in the rest of the world. Today completely built tractors manufactured in its state-of-the-art Greater Noida plant to over 39 countries around the world in tractors to Asia, Africa, Australia, Europe, Latin America and North America.

In addition to tractors, New Holland India exports sub-assemblies and components manufactured in the plant are also exported to other CNH subsidiaries worldwide.

A true testimony of the New Holland India quality, that the world admires

PRESS RELEASE:

NEW HOLLAND FIAT INDIA SUPPLIERS MEET – 4th DECEMBER 2010

As an endeavor towards further harvesting partnerships with our suppliers, New Holland Fiat India convened a Supplier Meet on 4th December 2010 at Hotel Taj Palace, New Delhi. The event was overwhelmingly participated by almost all suppliers and service providers, sending very positive signals of our resolve to make our association an everlasting one.

Mr. Stefano Pampalone, Managing Director-India Plant shared the performance about FIAT Group and CNH Worldwide, and talked about increasing our footprint in the Indian market with aggressive plans and diversification into new agri based products. The deliberations from Mr. Abhijit Gupta, Director-Purchasing focused on the current economic environment, new developments, and on the global sourcing activities, emphasizing on the vital importance of cost management. This was followed by presentations from Mr. Anil Sinha and Mr. Vivek Gupta on specific plans and expectations on quality, delivery and new product developments, which gave an excellent insight into the deliverables, and further expectations from our channel partners.

In order to make suppliers free of all reservations, there was a Question and Answer session, where suppliers participated with lot of enthusiasm and their questions were answered aptly by the senior management of NHFI. Performance based on cost, quality, delivery and development was recognized and the best deserving suppliers were given awards for their outstanding performance in their respective areas.

New Holland fiat India thanks it's all suppliers and service providers for taking time out of their busy schedule and attending the event, which will go a long way in further strengthening our business relations.

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.45.45
UK Pound	1	Rs.72.91
Euro	1	Rs.61.43

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--CREDIT LINES	1~10	3
--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		26

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.