MIRA INFORM REPORT

Report Date :

02.11.2011

IDENTIFICATION DETAILS

Name :	FABTECH PROJECTS AND ENGINEERS LIMITED
Formerly Known As :	FABTECH PROJECTS AND ENGINEERS PRIVATE LIMITED
Registered Office :	J – 504, MIDC, Bhosari, Pune – 411026, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	11.06.2002
Com. Reg. No.:	25-017050
Paid-Up Capital :	Rs. 144.678 Millions
CIN No.: [Company Identification No.]	U29299PN2002PLC017050
TAN No.: [Tax Deduction & Collection Account No.]	PNEF00839G
PAN No.: [Permanent Account No.]	AAACF7903Q
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Mounded Bullets projects, Pressure Vessels, Heat Exchangers, Storage Vessels, Sphere and Mobile Tankers etc
No. of Employees :	120 (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

Status :	Satisfactory
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established company having satisfactory track. The company is doing well. Trade relations are reported as fair. Business is active. Payments are reported to be correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions.

NOTES :

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

ECGC Country Risk Classification List – September 30, 2011

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

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

INFORMATION PARTED BY

Name :	Mr. Vikas R
Designation :	Accounts Manager
Contact No.:	91-8975756484
Date :	02.11.2011

LOCATIONS

Registered Office :	J – 504, MIDC, Bhosari, Pune – 411026, Maharashtra, India
Tel. No.:	91-20-27474134/ 27474235/ 66113326 / 30614500
Mobile No.:	91-8975756484 (Mr. Vikas R)
Fax No.:	91-20-66113327/ 30614509/ 27458479
E-Mail :	iut@eth.net iut@vsnl.net info@fabtechprojects.com sales@fabtechprojects.com jobs@fabtechprojects.com sales@fabtechprojects.com pr@fabtechprojects.com
Website :	www.fabtechprojects.com
Location :	Owned
Factory :	Plot No. 1, 3 and 4, Gat No. 272/273, Nanekarwadi, Chakan, Dist. Pune - 410501, Maharashtra, India
Tel. No.:	91-2135-395482 / 563052/ 665901 to 25
Fax No.:	91-2135-253833/ 286160

DIRECTORS

As On 30.09.2010

Name :	Mr. Bira Anand Rupnar
Designation :	Chairman and Managing Director
Address :	A/2/203 Antanksha Housing Complex, Pimpri, Pune – 411018, Maharashtra, India
Date of Birth/Age :	01.06.1960
Qualification :	B.E (Mech)
Date of Appointment :	11.06.2002
DIN No.:	01637615

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	U29299MH1997PTC109288	Stellar Engineering Industries Private Limited	Managing director	8.07.1997	8.07.1997	Strike off	NO
2	U29299PN1998PTC012788	Steel Vision India Private Limited	Managing director	12.08.1998	12.08.1998	Active	NO
3	U29299PN2002PLC017050	Fabtech Projects And Engineers Limited	Managing director	1.04.2011	11.06.2002	Active	NO
4	U17111PN2006PLC128836	Abhijeet Spinning Mills India Limited	Director	2.08.2006	2.08.2006	Strike off	NO
5	U15424PN2010PTC137545	Fabtech Sugar Private Limited	Director	14.10.2010	14.10.2010	Active	NO
6	U45200PN2011PTC138575	Fabtech Infra Private Limited	Director	17.02.2011	17.02.2011	Active	NO
7	U17121PN2011PTC139171	Fabtech Spinning Mills Private Limited	Director	11.04.2011	11.04.2011	Active	NO

Name :	Mr. Shrikisan Mathuralal Bhutada
Designation :	Director
Date of Appointment :	01.10.2009
DIN No.:	01640649

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	U27104PN1985PTC135740	Power Cube Electro Controls Private Limited	Director	29.09.2007	25.08.2007	17.02.2011	Active	NO
2	U29299PN2002PLC017050	Fabtech Projects And Engineers Limited	Director	30.09.2010	1.10.2009	-	Active	NO

Name :	Mr. Rajabahu Ananda Rupnar
Designation :	Executive Director
Address :	Prem Geet Apartments, Masulkar Colony, Pimpri, Pune – 411018, Maharashtra, India
Qualification :	B.E. (Civil)
Date of Appointment :	11.06.2002
DIN No.:	01727729

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	U29299MH1997PTC109288	Stellar Engineering Industries Private Limited	Director	8.07.1997	8.07.1997	Strike off	NO
2	U29299PN1998PTC012788	Steel Vision India Private Limited	Director	12.08.1998	12.08.1998	Active	NO
3	U29299PN2002PLC017050	Fabtech Projects And Engineers Limited	Director	11.06.2002	11.06.2002	Active	NO
4	U15424PN2010PTC137545	Fabtech Sugar Private Limited	Director	14.10.2010	14.10.2010	Active	NO
5	U45200PN2011PTC138575	Fabtech Infra Private Limited	Director	17.02.2011	17.02.2011	Active	NO

Name :	Mr. Neelavarna Bira Rupnar
Designation :	Director
Address :	A/2/203 Antanksha Housing Complex, Pimpri, Pune – 411018, Maharashtra, India
Qualification :	B.Com
Date of Appointment :	11.06.2002
DIN No.:	01881679

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	U29299PN2002PLC017050	Fabtech Projects And Engineers Limited	Director	11.06.2002	11.06.2002	Active	NO
2	U17111PN2006PLC128836	Abhijeet Spinning Mills India Limited	Director	2.08.2006	2.08.2006	Strike off	NO
3	U45200PN2011PTC138575	Fabtech Infra Private Limited	Additional director	3.03.2011	3.03.2011	Active	NO

Name :	Mr. Nurani Parameshwaran Hariharan
Designation :	Director Marketing
Address :	703, Gandharv Chs. Sector No,40, Plot No.38, Nerul (West) – 400009, Maharashtra, India
Date of Birth/Age :	31.12.1946
Date of Appointment :	01.03.2006
DIN No.:	01727306

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	U29299PN2002PLC017050	Fabtech Projects And Engineers Limited	Whole-time director	1.04.2011	1.03.2006	Active	NO

Name :	Mr. Raman Krishnan
Designation :	Director Projects
Address :	Unit No.15, 2dn Floor, Stele Park, Plot No.283/284, Sector 21, Nerul, Mumbai – 400706, Maharashtra, India
Date of Birth/Age :	15.06.1948
Date of Appointment :	01.10.2009
DIN No.:	03275988

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	U29299PN2002PLC017050	Fabtech Projects And Engineers Limited	Director	30.09.2010	1.10.2009	Active	NO

Name :	Mrs. Manisha Sharad Chimbalkar
Designation :	Director Operations
Address :	B1/502, Swapnanagri, Pimpri, Pune – 411018, Maharashtra, India
Date of Appointment :	01.04.2006
DIN No.:	01881691

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	U29299PN1998PTC012788	Steel Vision India Private Limited	Director	12.02.1999	12.02.1999	Active	NO
2	U29299PN2002PLC017050	Fabtech Projects And Engineers Limited	Director	1.04.2006	1.04.2006	Active	NO

Name :	Mr. Bhausaheb Ananda Rupnar
Designation :	Director
Address :	Prem Geet Apartments, Masulkar Colony, Pimpri, Pune – 411018, Maharashtra, India
Qualification :	B.Sc (Agriculture)
Date of Appointment :	01.01.2008
DIN No.:	02370193

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	U29299PN2002PLC017050	Fabtech Projects And Engineers Limited	Director	22.09.2008	1.01.2008	Active	NO
2	U17121PN2011PTC139171	Fabtech Spinning Mills Private Limited	Director	11.04.2011	11.04.2011	Active	NO

Name :	Mr. Dayanand Pundlik Thorat
Designation :	Director Technical
Address :	Jai Ganesh Samrajya, Panjarpol, Wing F 13, R. No. 204, Bhosari, Pune – 411087, Maharashtra, India
Date of Appointment :	02.05.2009
DIN No.:	02647227

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	U29299PN2002PLC017050	Fabtech Projects And Engineers Limited	Director	30.09.2009	2.05.2009	Active	NO

Name :	Mr. Eshanya Biharilal Gupta
Designation :	Director Finance
Address :	Pimpri, Pune – 411018, Maharashtra, India
Date of Appointment :	01.03.2006
DIN No.:	01727743

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	U29299PN2002PLC017050	Fabtech Projects And Engineers Limited	Director	1.03.2006	1.03.2006	Active	NO

KEY EXECUTIVES

Name :	Mr. Vikas R
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As On 30.09.2010

Names of Shareholders	No. of Shares
Bira Ananda Rupnar	4106160
Rajabahu Ananda Rupnar	3292145
Neelavarn Bira Rupnar	4585730
Bhausaheb Ananda Rupnar	2151135
Parameshwaran Nurani Hariharan	36170
Manisha Sharad Chimbalkar	36170
Eshanya Gupta	36170
Anita Dube	1000
Amol S. Dhole	1000
Ashok Waghmode	1000
Balkrishna Magade	2500
Balu Dhaygude	1000
Deepak Bhanudas Rupnar	2500
Dilip Shendge	1500
Dayanand P. Thorat	2500
Gatkal Dattatray	1000
J P Rath	1500
Mahehs Gawade	1000
Prajakra Deodhar	1500
Rahul Rokade	500
R. Krishnan	10000

As On 30.09.2010

Category	Percentage
Other top fifty shareholders	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Mounded Bullets projects, Pressure Vessels, Heat Exchangers, Storage Vessels, Sphere and Mobile Tankers etc

Products :

Item Code No.	Product Description
NA	Manufacturing and Engineering Project Work

Agencies Held :

· Lloyd’s Register Asia

· Bureau Veritas

· Det Norske Veritas

· Engineers India Limited / Ceil

· Projects and Development India Limited

· Jacobs Engineering (H and G)

· Bax Counsel Inspection Bureau Private Limited

· Indian Register Of Shipping

· Bharat Heavy Electrical Limited

· Bechtel Power Corporation

· Dalal Consultants and Engineers Limited

· Quest Inspection Services Private Limited

· Tata Consulting Engineers

· S.G.S. India Limited

· Uhde India Limited

· Kvaerner Powergas (India) Limited

· M. N. Dastur and Company

· Germaischer Lloyd

Import of :

Product :

Raw Material

Country :

Oman

Terms :

Purchasing :

L/C, Cash

Selling :

L/C, Cash

PRODUCTION STATUS (As On 31.03.2010)

Particulars	Installed Capacity	Actual Production
Textile Division	15600 spindles	442 MTS (3 months)

Engineering Division

Particulars	Unit	Actual Production
Storage tanks and pressure vessels	Nos	2898
Project execution of large tanks / vessels	Nos	---

Textile Division

Particulars	Unit	Actual Production
Yarns	Kgs	445390
Wastage	Kgs	74618

GENERAL INFORMATION

Customers :

· End Users

• Indian Oil Corporation Limited
• Hindustan Petroleum Corporation Limited
• Bharat Petroleum Corporation Limited
• Oil India Limited
• Ongc
• Ge Oil and Gas
• Cairn Energy System
• Uhde
• Kazstroy
• Metito
• Lind Engg. Private Limited
• Dresser Rand Private Limited
• Naftogaz
• Praxair India Limited
• Essar
• Kochi Refineries Limited
• Bharat Shell Limited
• Thermax Limited
• Ion Exchange (I) Limited
• Aquatech Systems (Asis) Private Limited
• V A Tech Wabag Limited

No. of Employees :

120 (approximately)

Bankers :

· Bank of Maharashtra – Pimpri Branch, Pimpri, Pune - 411018, Maharashtra, India

· SBI – Pune, Maharashtra, India

· The Saraswat Co-operative Bank Limited – Akurdi Branch, Pune – 411026, Maharashtra, India

· State Bank of India

· Axis Bank

Facilities :

Secured Loans	31.03.2010 (Rs. In Millions)	31.03.2009 (Rs. In Millions)
Saraswat Cooperative Bank OD A/C No. 108	32.094	153.532
Saraswat Cooperative Bank CC A/C No. 1413 (Hypothecation Of Current Assets)	(3.768)	138.234
Axis Bank Cc A/C No. 1557 (Hypothecation Of Current Assets)	(0.001)	50.049
Saraswat Cooperative Bank Term Loan (Guest House) Aundh A/C – 15401	0.000	1.212
Saraswat Bank Vehicle Loan (Scorpio) A/C – 17327	0.127	0.296
Saraswat Cooperative Bank Term Loan (Falt) A/C – 17837	1.805	1.568
Saraswat Cooperative Bank Term Loan (Alto) A/C – 19169	0.008	0.349
Sunderam Finance (Vehicle Loan) A/C – CM 7340	0.020	0.243
Bank Of Maharashtra Cc A/C – (1393) 2051 (Hypothecation Of Current Assets)	52.522	54.210
Bank Of Maharashtra Cc A/C – 6812 (Hypothecation Of Current Assets)	330.158	0.000
Bank Of Maharashtra Cc A/C – 3219 – Textile (Hypothecation Of Current Assets)	50.127	0.000
State Bank Of India Cc A/C – 31066105247 (Hypothecation Of Current Assets)	248.729	0.000
Bank Of Maharashtra – Vehicle Loan – Audi Car A.C – 2922	1.631	2.590
Bank Of Maharashtra – Vehicle Loan – S X 4 A/C – 5313	0.449	0.000
Bank Of Maharashtra – Vehicle Loan – Audi Car A/C – 5366	4.391	0.000
Bank Of Maharashtra – Vehicle Loan – Honda City A/C – 5328	0.460	0.000
Bank Of Maharashtra – Vehicle Loan – Honda City A/C – 3825	0.440	0.000
Bank Of Maharashtra – Vehicle Loan – Honda City A/C – 9827	0.440	0.000
Tata Capital – Vehicle Loan A/C 7000030054	0.000	0.437
Tata Motars – Vehicle Loan A/C 112679	0.282	0.345
Term Laon Bom Textile Division A/C – 793	128.780	141.133
Term Loan Bom Textile Division A/C – 101	201.182	0.000
Total	1049.156	544.198

Unsecured Loans	31.03.2010 (Rs. In Millions)	31.03.2009 (Rs. In Millions)
R. B. Industries	5.011	5.378
Steel Vision India Private Limited	0.000	0.000
Stellar Engineering Private Limited	3.818	4.194
Thermcon Engineers	36.428	0.000
Other Unsecured Loans	5.470	0.000
Other Unsecured Loans (share application money)	3.677	3.677
Total	54.404	13.249

Financial Institute :	Sundaram Finance
Banking Relations :	--
Auditors :
Name :	R. M. Rajapurkar and Company Chartered Accountant
Address :	1 – Regent Avenue, Sambhaji Chowk, Pradhikaran, Nigdi, Pune – 411044, Maharashtra, India
Tel. No.:	91-20-27651074
E-mail :	ravi.rajapurkar@gmail.com
Pan No.:	AANPD2738B
Associates :	Steel Vision India Private Limited R. B. Industries

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
50000000	Equity Shares	Rs.10/- each	Rs.500.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
14467790	Equity Shares	Rs.10/- each	Rs.144.678 Millions

Notes:

Out of the above 2616720 shares of Rs. 10/- each are issued as fully paid up bonus shares .

After 30.09.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
75000000	Equity Shares	Rs.10/- each	Rs.750.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
43403370	Equity Shares	Rs.10/- each	Rs.434.034 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		144.678	66.373	56.189
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		522.013	305.339	160.297
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		666.691	371.712	216.486
LOAN FUNDS
1] Secured Loans		1049.155	544.198	553.950
2] Unsecured Loans		54.404	13.249	75.907
TOTAL BORROWING		1103.559	557.447	629.857
DEFERRED TAX LIABILITIES		16.546	3.723	1.714
TOTAL		1786.796	932.882	848.057
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		608.531	171.991	109.386
Capital work-in-progress		52.867	192.578	0.000
INVESTMENT		39.671	13.671	83.988
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	132.424	218.408	82.890
	Sundry Debtors	744.431	481.269	301.711
	Cash & Bank Balances	527.835	133.054	150.321
	Other Current Assets	950.763	951.924	822.108
	Loans & Advances	178.400	94.973	13.466
Total Current Assets		2533.853	1879.628	1370.496
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	937.076	1015.571	647.997
	Other Current Liabilities	502.727	309.181	60.331
	Provisions	15.067	7.747	7.485
Total Current Liabilities		1454.870	1332.499	715.813
Net Current Assets		1078.983	547.129	654.683
MISCELLANEOUS EXPENSES		6.744	7.513	0.000
TOTAL		1786.796	932.882	848.057

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Sales and Services	2697.589	1735.239	1558.158
		Other Income	12.966	6.772	40.185
		TOTAL (A)	2710.555	1742.011	1598.343
Less	EXPENSES
		Material costs	1430.466	983.060	1076.993
		Employee costs	240.541	60.001	23.893
		Manufacturing costs	516.082	366.455	239.783
		Administration costs, selling and distribution costs	118.510	85.406	38.371
		TOTAL (B)	2305.599	1494.922	1379.040
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		404.956	247.089	219.303
Less	FINANCIAL EXPENSES (D)		29.389	15.916	61.837
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		375.567	231.173	157.466
Less/ Add	DEPRECIATION/ AMORTISATION (F)		32.232	11.858	8.053
	PROFIT BEFORE TAX (E-F) (G)		343.335	219.315	149.413
Less	TAX (I)		113.120	61.417	21.057
	PROFIT AFTER TAX (G-I) (J)		230.215	157.898	128.356
Less	APPROPRIATIONS
		Interim Dividend Paid	6.637	0.000	0.000
		Tax on Dividend	1.128	0.000	0.000
	BALANCE CARRIED TO THE B/S		222.450	157.898	128.356
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	62.291	60.539	206.415
	TOTAL EARNINGS		62.291	60.539	206.415
	IMPORTS
		Purchases of raw material	46.564	471.267	283.963
		Capital Goods (Textile)	30.760	30.760	0.000
	TOTAL IMPORTS		77.324	502.027	283.963
	Earnings Per Share (Rs.)		33.29	23.79	26.59

Particulars	31.03.2011
Sales Turnover	3845.500

The above information has been parted by Mr. Vikas.

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	8.49	9.06	8.03
Net Profit Margin (PBT/Sales)	(%)	12.73	12.64	9.59
Return on Total Assets (PBT/Total Assets}	(%)	10.93	10.69	10.10
Return on Investment (ROI) (PBT/Networth)		0.51	0.59	0.69
Debt Equity Ratio (Total Liability/Networth)		3.84	5.08	6.22
Current Ratio (Current Asset/Current Liability)		1.74	1.41	1.91

LOCAL AGENCY FURTHER INFORMATION

OPERATIONS:

During the year ended on 31.03.2010 Sales and Other Income amounted to Rs. 2895.739 millions in comparison to Rs. 1781.289 millions in the previous year. Company has made net profit of Rs 230.215 millions in comparison to Net profit of Rs 157.898 millions in the previous year. Company is taking necessary steps to increase its profitability by imposing strict control over overheads.

FUTURE PLANS:

Company is taking necessary steps to collaborate with other parties to increase operations and earn sufficient margins on its operations and to control overheads.

Check List by Info Agents	Available in Reports (Yes/No)
Year of Establishment	Yes
Locality Of The Firm	Yes
Constitution of the firm	Yes
Premises Details	Yes
Type of Business	Yes
Line of Business	Yes
Promotor’s background	--
No. of Employees	Yes
Name of person contacted	Yes
Designed of contact person	Yes
Turnover of firm for last three years	Yes
Profitability for last three years	No
Reasons for variation <> 20%	No
Estimation for coming financial year	Yes
Capital of the business	Yes
Details of Sister Concern	Yes
Major Suppliers	Yes
Major Customers	Yes
Payments Terms	Yes
Export / Import details (if applicable)	Yes
Market information	--
Litigation that the firm / promoter involved in	--
Banking details	Yes
Banking facility details	Yes
Conduct of the banking account	--
Buyer visit details	--
Financial, if provided	No
Incorporation details, if applicable	--
Last accounts filed at ROC	--
Major Shareholders, if available	--

CONTINGENT LIABILITY:

a) Un-expired Bank Guarantees Rs. -2325.634 millions and Letter of Credit - Rs. 423.163 millions (Total-2748.797 millions) (Previous year BG Rs. 1557.538 millions and LC Rs. 632.828 millions) as per information and explanation given.

b) Claims against companies not admitted as debts - Nil as per information and explanation given.

c) Disputed taxation, Income Tax, Excise, Sales Tax, etc - Nil as per information and explanation given.

d) Estimated amount of contracts remaining to be executed on capital account - Rs.39.752 millions (Advance given to LMW for Machinery)

FORM 8:

Corporate identity number (CIN) Foreign company registration number	U29299PN2002PLC017050
Name of the Company	FABTECH PROJECTS AND ENGINEERS LIMITED
Address	J-504, MIDC, Bhosari, Pune – 411026, Maharashtra, India
This form is for	Creation of Charge
Type of Charge	Book Debts Movable Property (not being pledge)
Particulars of the charge holder	Bank of Maharashtra – Pimpri Branch, Pimpri, Pune - 411018, Maharashtra, India E-mail : iut@eth.net
Nature or description of the instrument(s) creating or modifying the charge	Composite Deed of Hypothecation for all facilities
Date of the instrument creating or modifying the charge	25.01.2010
Amount secured by the charge	Rs.450.000 Millions
Brief particulars of the principal terms and conditions and extent and operation of the charge	Rate of Interests: BPLR -1% i.e presently 11.25% with monthly rests. Terms of Repayment: As per sanction letter of the bank Margin: As per sanction letter of the bank Extent and operations of the charge: Cash credit against hyp of stock :- 500.000 millions Term Loan No 1 :- 1500.000 millions Term Loan No 2 :- 2500.000 millions ----------------------------------------------------------------- Total :- 4500.000 millions
Short particulars of the property charged (including location of the property)	By way of hypothecation charge in favour of the Bank over the Company's present and future movable plants, machineries, goods, stocks of raw materials, items, inventories, stocks in process semi-finished goods, stores and spares (consumable stores and spares),stock in trade, goods in process, movables in transit and present and future tangible and intangible assets, vehicles, goodwill, trademark, copyright, patent and all the right title interest and benefit of the Company in upon or over all contracts and agreement and amounts and right to collect receive and recover the same together with all movables, situated or located at any place and now lying, being, affixed or installed at any place at any time and all outstanding monies, claims bills, receivables, book debts. together with all movables, situated or located at any place and now lying, being, affixed or installed at any place at any time and all outstanding monies, claims bills, receivables, book debts.

TRADE REFERENCES:

· NOCL

· LOCL

· HPCL

· Indian Oil

· ONGC

FIXED ASSETS:

• Land
• Office Building
• Factory Building
• Furniture and Fixture
• Vehicles
• Plant and Machinery
• Electrical Installations
• Office Equipment
• Computers and Peripherals

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. 49.07
UK Pound	1	Rs. 78.78
Euro	1	Rs. 67.75

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
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	-

Maximum Credit Limit :

USD 2600000

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.