MIRA INFORM REPORT

Report Date :

16.11.2011

IDENTIFICATION DETAILS

Name :	AEGAN BATTERIES LIMITED

Registered Office :	715, 10^th A Main, 4^th Block, Jayanagar, Bangalore – 560041, Karnataka

Country :	India

Date of Incorporation :	22.10.2010

Com. Reg. No.:	08-055616

Capital Investment / Paid-up Capital :	Rs.125.870 millions

CIN No.: [Company Identification No.]	U24232KA2010PLC055616

TAN No.: [Tax Deduction & Collection Account No.]	BLRA14999F

PAN No.: [Permanent Account No.]	AAICA9223A

Legal Form :	A Closely Held Public Limited Liability Company

Line of Business :	Manufacturer of Industrial Batteries and Automotive Batteries for Ups, Standby, Solar and Telecom Applications and Inverters.

No. of Employees :	580 [In Office 80 + 500 in Factory] Approximately

RATING & COMMENTS

MIRA’s Rating :

RATING

STATUS

PROPOSED CREDIT LINE

New Business

Status :	New Company

Payment Behaviour :	Unknown

Litigation :	Clear

Comments :	Subject is a new company and yet to establish itself gradually. The company will commence its commercial operation from December, 2011. Payment terms are not known The company can be considered for business dealings on a safe and secured 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)

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. Gopi
Designation :	Vice President - Marketing
Contact No.:	91-9945106349
Date :	08.11.2011

LOCATIONS

Registered Office :	715, 10^th A Main, 4^th Block, Jayanagar, Bangalore – 560041, Karnataka, India
Tel. No.:	Not Available
Mobile No.:	91-9945106349 [Mr. Sachin]
Fax No.:	Not Available
E-Mail :	gopi@aegan.co.in smrajunaidu@gmail.com
Website :	http://www.aegan.co.in
Location :	Owned

DIRECTORS

Name :

Mr. Arun Kumar Thyagarajan

Designation :

Managing Director

Address :

715, 10^th A Main, 4^th Block, Jayanagar, Bangalore – 560041, Karnataka, India

Date of Birth/Age :

22.07.1976

DIN :

01243318

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	U55101KA1997PTC023007	AEGAN HOTELS PRIVATE LIMITED	Director	12/11/1997	12/11/1997	Active	NO
2	U05190KA2002PLC031042	CHLORIDE ALLOYS INDIA LIMITED	Additional director	10/9/2010	25/09/2002	Active	NO
3	U74900KA2008PTC048739	AEGAN INDUSTRIES PRIVATE LIMITED	Managing director	30/03/2011	30/12/2008	Active	NO
4	U24232KA2010PLC055616	AEGAN BATTERIES LIMITED	Managing director	22/10/2010	22/10/2010	Active	NO

Name :

Mr. Raj Kumar Thyagarajan

Designation :

Director

Address :

715, 10^th A Main, 4^th Block, Jayanagar, Bangalore – 560041, Karnataka, India

Date of Birth/Age :

25.12.1978

DIN :

01243319

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	U55101KA1997PTC023007	AEGAN HOTELS PRIVATE LIMITED	Director	12/11/1997	12/11/1997	-	Active	NO
2	U05190KA2002PLC031042	CHLORIDE ALLOYS INDIA LIMITED	Whole-time director	1/7/2008	25/09/2002	31/03/2010	Active	NO
3	U74900KA2008PTC048739	AEGAN INDUSTRIES PRIVATE LIMITED	Director	30/12/2008	30/12/2008	-	Active	NO
4	U24232KA2010PLC055616	AEGAN BATTERIES LIMITED	Director	22/10/2010	22/10/2010	-	Active	NO

Name :

Ms. Chitra Rajkumar Thyagarajan

Designation :

Director

Address :

715, 10^th A Main, 4^th Block, Jayanagar, Bangalore – 560041, Karnataka, India

Date of Birth/Age :

13.02.1982

DIN :

01243321

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	U05190KA2002PLC031042	CHLORIDE ALLOYS INDIA LIMITED	Director	22/02/2004	22/02/2004	18/06/2008	Active	NO
2	U74900KA2008PTC048739	AEGAN INDUSTRIES PRIVATE LIMITED	Additional director	24/07/2009	24/07/2009	-	Active	NO
3	U24232KA2010PLC055616	AEGAN BATTERIES LIMITED	Director	22/10/2010	22/10/2010	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Gopi
Designation :	Vice President in Marketing

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

Names of Shareholders		No. of Shares
Arun Kumar Thiyagarajan		10000
Raj Kumar Thiyagarajan		10000
Arunkumar Bhadradevi		10000
Rajkumar Chitra		10000
Seenivasagan Mutthuraju		10000
Ealumalai Narayanan		10000
Subramaniam Sivakumar		10000
Total		70000

As on 15.09.2011

Names of Allottees		No. of Shares Allotted
Arun Kumar Thiyagarajan		3500000
Raj Kumar Thiyagarajan		4000000
Total		7500000

As on 20.09.2011

Names of Allottees		No. of Shares Allotted
Arun Kumar Thiyagarajan		1872920
Raj Kumar Thiyagarajan		1175000
Arun Kumar Thiyagarajan [HUF]		550000
Raj Kumar Thiyagarajan [HUF]		650000
R. Chitra		769050
Total		5016970

BUSINESS DETAILS

Line of Business :	Manufacturer of Industrial Batteries and Automotive Batteries for Ups, Standby, Solar and Telecom Applications and Inverters.

Terms :
Selling :	Cash / Credit [30 / 60 Days]

Purchasing :	Cash / Credit [30 / 60 Days]

GENERAL INFORMATION

Customers :	OEM’s Industries

No. of Employees :	580 [In Office 80 + 500 in Factory] Approximately

Bankers :	State Bank of India, Jayanagar Branch, Bangalore, Karnataka, India State Bank Of India, Commercial Branch, 78/79 Park Road, Erode - 638003, Tamilnadu, India

Facilities :	--

CAPITAL STRUCTURE

Authorised Capital :

No. of Shares	Type	Value	Amount

15,000,000	Equity Shares	Rs.10/- each	Rs.150.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

12,586,970	Equity Shares	Rs.10/- each	Rs.125.870 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

New Company

Note : as claimed by Mr. Gopi [Vice President of the company], the company has yet to start their commercial activity. They are planning to start from December - 2011

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report [Yes/No]
Year of Establishment	Yes
Locality of the Firm	Yes
Construction of the firm	Yes
Premises details	Yes
Type of Business	Yes
Line of Business	Yes
Promoters background	-
No. of Employees	Yes
Name of Person Contacted	Yes
Designation of contact person	Yes
Turnover of firm for last three years	-
Profitability for last three years	-
Reasons for variation <> 20%	-
Estimation for coming financial year	-
Capital the business	No
Details of sister concerns	-
Major Suppliers	No
Major Customers	No
Payment Terms	Yes
Export / Import Details [If Applicable]	-
Market Information	-
Litigations that the firm / promoter involved in	-
Banking Details	Yes
Banking Facility Details	-
Conduct of the banking account	-
Buyer visit details	-
Financials, if provided	No
Incorporation details, if applicable	-
Last accounts filed at ROC	-
Major Shareholders, if applicable	-

Bankers Charges Report as per Registry

Corporate identity number of the company	U24232KA2010PLC055616
Name of the company	AEGAN BATTERIES LIMITED
Address of the registered office or of the principal place of business in India of the company	715, 10th A Main, 4th Block, Jayanagar, Bangalore – 560041, Karnataka, India
This form is for	Creation of charge
Type of charge	Movable Property Immovable Property
Particular of charge holder	State Bank Of India, Commercial Branch, 78/79 Park Road, Erode - 638003, Tamilnadu, India Email : sbi.04061@sbi.co.in
Nature of instrument creating charge	Agreement of Loan for overall limit Agreement of Hypothecation of Goods and Assets Letter regarding the Grant of Individual Limits within the Overall Limit Dated-19.09.2011 Letter of Creation of Equitable Mortgage by way of deposit of title deeds
Date of instrument Creating the charge	19.09.2011
Amount secured by the charge	Rs.480.600 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest - TERM LOAN - 3.75 % above Base rate. Present effective rate 13.75% Terms of Repayment – YEAR RS. IN MILLIONS 2012-13 0.37504 15.000 2013-14 0.375012 45.000 2014-15 0.4611, 0.441 55.000 2015-16 0.5012 60.000 2016-17 0.625012 75.000 2017-18 0.6711, 0.631 80.000 2018-19 0.7512 90.000 2019-20 1.105 55.000 Margin - Term Loan / LC (CG) 35.90 % Extent and Operation of the charge - The Charge shall operate as EXCLUSIVE FIRST CHARGE in favour of the Bank for the Overall Limit Of 480.600 millions together with interest, cost, charges and other expenses that may accrue and or debited to the Company accounts from time to time
Short particulars of the property or asset(s) charged (including complete address and location of the property)	1. First charge on the entire assets to be created out of term loan including E.M over the factory land measuring a) 3 Acres 5 guntas in survey no. 26/1 b) 2 Acres 16 1/2 guntas in survey no. 27/3 situated at Chundagondanahalli, Lakkur Hobli, Malur Taluk, Kolar District 2. Pledge of 30% of the Equity shares held by the promoter of the company. 3. Corporate guarantee extended by Aegan Industries (Private) Limited.

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 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.50.56
UK Pound	1	Rs.80.29
Euro	1	Rs.68.78

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.

MIRA INFORM REPORT

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