MIRA INFORM REPORT

Report Date :

21.11.2011

IDENTIFICATION DETAILS

Name :	LASER CABLES PRIVATE LIMITED
Registered Office :	307, Swaika Centre, 3^rd Floor, 4A, Pollock Street, Kolkata 700001, West Bengal
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	07.01.1988
Com. Reg. No.:	043591
Capital Investment / Paid-up Capital :	Rs. 42.793 millions
CIN No.: [Company Identification No.]	U14220WB1988PTC043591
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Cables/ Cables Accessories and Conductors
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 1469548
Status :	Good
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a well established company having good track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered normal for business 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

LOCATIONS

Registered Office / Factory:	307, Swaika Centre, 3^rd Floor, 4A, Pollock Street, Kolkata 700001, West Bengal, India
Tel. No.:	91-33-22357593 / 22353263 / 2234-2797
Fax No.:	91-33-22152923
E-Mail :	laser@lasercables.com
Website :	http://www.lasercables.com

DIRECTORS

AS ON 30.09.2010

Name :	Mr. Devendra Goel
Designation :	Director
Date of Birth/Age :	21.10.1972
Date of Appointment :	01.06.1993
DIN No.:	00673447

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	U14220WB1988PTC043591	Laser Cables Pvt Ltd	Director	01/06/1993	01/06/1993	-	Active	NO
2	U17119GJ1993PTC020467	Laser Synthetics Pvt Ltd	Director	30/11/1993	30/11/1993	28/01/2009	Active	NO
3	U70101WB1995PTC074563	Devendra Construction Pvt Ltd	Director	27/09/1995	27/09/1995	-	Active	NO
4	U70101WB1995PTC074562	Pulkit Properties Pvt.Ltd.	Director	27/09/1995	27/09/1995	-	Active	NO
5	U14200WB1997PTC085933	Laser Electrical Industries Private Limited	Director	19/11/1997	19/11/1997	-	Active	NO
6	U51909WB1995PTC070180	Jalsagar Sales Agency Pvt..Ltd.	Director	01/06/1999	01/06/1999	-	Active	NO
7	U17119GJ2003PTC043137	Laser Filament Private Limited	Director	04/11/2003	04/11/2003	28/10/2007	Active	NO
8	U70101WB1987PTC042427	Genuine Real Estates Pvt Ltd	Director	12/03/2005	12/03/2005	-	Active	NO
9	U67120WB1992PTC056195	Drp Trading & Investment Pvt Ltd	Director	18/03/2005	18/03/2005	-	Active	NO
10	U14293WB2005PLC102556	Lumino Industries Limited	Director	04/04/2005	04/04/2005	-	Active	NO
11	U27203WB2005PLC104710	Laser Aluminium Company Limited	Director	01/09/2005	01/09/2005	-	Amalgamated	NO
12	U70109WB1991PTC052778	In Style Farms Pvt. Ltd.	Director	23/12/2005	23/12/2005	-	Active	NO
13	U45200WB2007PTC112794	Ramkrishna Infrastructure Private Limited	Director	25/01/2007	25/01/2007	-	Active	NO
14	U25203WB2007PTC115392	Nagreeka Polyfab Private Limited	Director	27/04/2007	27/04/2007	11/01/2011	Active	NO
15	U45400WB2007PTC120547	Unique Heights Private Limited	Director	12/12/2007	12/12/2007	-	Active	NO
16	U51909WB2008PTC127889	Jbld Trading Private Limited	Director	25/07/2008	25/07/2008	31/08/2010	Active	NO
17	U80301AS2009PTC009047	North Eastern Educare & Research Private Limited	Director	29/09/2010	05/06/2009	-	Active	NO
18	U74900WB2009PTC139269	Aayush-Pratik Dealcomm Private Limited	Director	09/11/2009	09/11/2009	-	Active	NO
19	U70200WB2010PTC151407	Lal Dass Properties Private Limited	Director	19/07/2010	19/07/2010	31/08/2010	Active	NO
20	U40105WB2010PLC151600	Lumino Power Infrastructure Limited	Director	23/07/2010	23/07/2010	-	Active	NO
21	U70200WB2010PTC152128	Drp Realtors Private Limited	Director	10/08/2010	10/08/2010	31/08/2010	Active	NO
22	U70109WB2010PTC155049	D.S. Developers Private Limited	Director	26/11/2010	26/11/2010	-	Active	NO
23	U51909WB2007PTC119092	Embassy Vyapaar Private Limited.	Director	29/09/2011	02/12/2010	-	Active	NO
24	U51101WB2010PTC143823	Kasauti Dealtrade Private Limited	Director	15/09/2011	06/01/2011	-	Active	NO
25	U52300WB2009PTC139092	Orbit Merchant Private Limited	Director	11/02/2011	11/02/2011	11/11/2011	Active	NO
26	U52190WB2009PTC139126	Ready Construction Private Limited	Director	11/02/2011	11/02/2011	11/11/2011	Active	NO
27	U51909WB2008PTC129368	Vidula Agency Private Limited	Director	11/02/2011	11/02/2011	11/11/2011	Active	NO
28	U52190WB2009PTC139116	Reline Developers Private Limited	Director	11/02/2011	11/02/2011	11/11/2011	Active	NO
29	U52190WB2009PTC139055	Sunrise E-Services Private Limited	Director	11/02/2011	11/02/2011	11/11/2011	Active	NO
30	U52190WB2009PTC139093	Hawk Sales Private Limited	Director	11/02/2011	11/02/2011	11/11/2011	Active	NO
31	U51109WB2005PTC102428	Sanatan Vinimay Private Limited	Director	29/09/2011	07/06/2011	-	Active	NO
32	U51909WB2010PTC148117	Astra Vinimay Private Limited	Director	07/06/2011	07/06/2011	-	Active	NO
33	U51101WB2010PTC148261	Barden Agencies Private Limited	Director	07/06/2011	07/06/2011	-	Active	NO

Name :	Mr. Purushottam Dass Goel
Designation :	Director
Date of Birth/Age :	01.08.1948
Date of Appointment :	17.01.1988
DIN No.:	00673269

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	U70101WB1987PTC042427	Genuine Real Estates Pvt Ltd	Director	26/07/1987	26/07/1987	-	Active	NO
2	U14220WB1988PTC043591	Laser Cables Pvt Ltd	Director	17/01/1988	17/01/1988	-	Active	NO
3	U70109WB1991PTC052778	In Style Farms Pvt. Ltd.	Director	20/08/1991	20/08/1991	-	Active	NO
4	U67120WB1992PTC056195	Drp Trading & Investment Pvt Ltd	Director	17/08/1992	17/08/1992	-	Active	NO
5	U70101WB1995PTC074563	Devendra Construction Pvt Ltd	Director	27/09/1995	27/09/1995	26/11/2007	Active	NO
6	U14200WB1997PTC085933	Laser Electrical Industries Private Limited	Director	19/11/1997	19/11/1997	-	Active	NO
7	U51909WB1995PTC070180	Jalsagar Sales Agency Pvt..Ltd.	Director	15/03/2005	15/03/2005	-	Active	NO
8	U14293WB2005PLC102556	Lumino Industries Limited	Managing director	01/04/2007	30/03/2005	-	Active	NO
9	U27203WB2005PLC104710	Laser Aluminium Company Limited	Director	01/09/2005	01/09/2005	-	Amalgamated	NO
10	U45202WB2006PTC109170	Salsar Projects Pvt Ltd	Director	08/05/2006	08/05/2006	-	Active	NO
11	U45309WB2006PTC109399	Shantiniketan Infrasturucture Pvt Ltd	Director	16/05/2006	16/05/2006	-	Active	NO
12	U70101WB2006PTC110067	Shivangan Nirman Pvt Ltd	Director	07/08/2006	07/08/2006	-	Active	NO
13	U51909WB2008PTC127889	Jbld Trading Private Limited	Director	25/07/2008	25/07/2008	18/08/2010	Active	NO
14	U51109WB2006PTC108991	Tirumala Mart Pvt Ltd	Director	26/03/2009	26/03/2009	-	Active	NO
15	U52399WB2009PTC137049	Monark Dealcom Private Limited	Director	08/08/2009	08/08/2009	-	Active	NO
16	U51109WB2008PTC126675	Lifeline Commotrade Private Limited	Additional director	16/04/2010	16/04/2010	18/08/2010	Active	NO
17	U70200WB2010PTC151407	Lal Dass Properties Private Limited	Director	19/07/2010	19/07/2010	18/08/2010	Active	NO
18	U40105WB2010PLC151600	Lumino Power Infrastructure Limited	Director	23/07/2010	23/07/2010	-	Active	NO
19	U70200WB2010PTC152128	Drp Realtors Private Limited	Director	10/08/2010	10/08/2010	18/08/2010	Active	NO

Name :	Mr. Deepak Goel
Designation :	Director
Date of Birth/Age :	20.02.1969
Date of Appointment :	17.01.1988
DIN No.:	00673430

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	U14220WB1988PTC043591	Laser Cables Pvt Ltd	Director	17/01/1988	17/01/1988	-	Active	NO
2	U51505WB1990PTC048881	Sigma Sales Pvt. Ltd.	Director	20/04/1990	20/04/1990	16/07/2010	Active	NO
3	U17119GJ1993PTC020467	Laser Synthetics Pvt Ltd	Director	19/10/1993	19/10/1993	28/01/2009	Active	NO
4	U14200WB1997PTC085933	Laser Electrical Industries Private Limited	Director	19/11/1997	19/11/1997	-	Active	NO
5	U17119GJ2003PTC043137	Laser Filament Private Limited	Director	04/11/2003	04/11/2003	28/10/2007	Active	NO
6	U14293WB2005PLC102556	Lumino Industries Limited	Whole-time director	01/08/2011	30/03/2005	-	Active	NO
7	U27203WB2005PLC104710	Laser Aluminium Company Limited	Director	01/09/2005	01/09/2005	-	Amalgamated	NO
8	U45309WB2006PTC109399	Shantiniketan Infrasturucture Pvt Ltd	Director	10/11/2006	10/11/2006	26/06/2008	Active	NO
9	U45200WB2006PTC111909	Sri Shyam Projects Private Limited	Director	23/11/2006	23/11/2006	-	Active	NO
10	U70200WB2010PTC151407	Lal Dass Properties Private Limited	Director	19/07/2010	19/07/2010	18/08/2010	Active	NO
11	U40105WB2010PLC151600	Lumino Power Infrastructure Limited	Director	23/07/2010	23/07/2010	-	Active	NO
12	U70200WB2010PTC152128	Drp Realtors Private Limited	Director	10/08/2010	10/08/2010	18/08/2010	Active	NO
13	U51109WB2005PTC102428	Sanatan Vinimay Private Limited	Director	29/09/2011	07/06/2011	-	Active	NO
14	U51909WB2010PTC148117	Astra Vinimay Private Limited	Director	07/06/2011	07/06/2011	-	Active	NO
15	U51101WB2010PTC148261	Barden Agencies Private Limited	Director	07/06/2011	07/06/2011	-	Active	NO

Name :	Mr. Devesh Goel
Designation :	Director
Date of Appointment :	20.05.2010
DIN No.:	02992306

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	U51109WB2008PTC121837	Sigma Vyapaar Private Limited	Director	13/04/2010	13/04/2010	-	Active	NO
2	U74120WB2007PTC119463	Regal Financial Advisory Private Limited.	Director	17/05/2010	17/05/2010	-	Active	NO
3	U14220WB1988PTC043591	Laser Cables Pvt Ltd	Director	30/09/2011	20/05/2010	-	Active	NO
4	U14293WB2005PLC102556	Lumino Industries Limited	Director	30/09/2011	20/05/2010	-	Active	NO
5	U70200WB2010PTC152128	Drp Realtors Private Limited	Director	28/09/2011	18/08/2010	-	Active	NO
6	U51109WB2008PTC126675	Lifeline Commotrade Private Limited	Director	18/08/2010	18/08/2010	-	Active	NO
7	U70100WB2010PTC152803	Devesh Buildcon Private Limited	Director	06/09/2010	06/09/2010	-	Active	NO
8	U70102WB2010PTC152902	Lumino Properties Private Limited	Director	09/09/2010	09/09/2010	-	Active	NO
9	U70101WB2010PTC152996	Laser Developers Private Limited	Director	14/09/2010	14/09/2010	-	Active	NO
10	U45400WB2010PTC154153	Goel Propcon Private Limited	Director	18/10/2010	18/10/2010	-	Active	NO
11	U51909WB2007PTC119092	Embassy Vyapaar Private Limited.	Director	29/09/2011	02/12/2010	-	Active	NO
12	U51101WB2010PTC143823	Kasauti Dealtrade Private Limited	Director	15/09/2011	06/01/2011	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2010

Names of Shareholders	No. of Shares
Devendra Goel	18530
Purushottam Dass Goel	14000
Deepak Goel	10965
Gyan Chand Goel	11
Shanty Devi Goel	7210
Rashmi Goel	11470
Jalsagar Sales Agency P Limited, Kolkata, West Bengal, India	24000
Purushottam Dass Goel – HUF	8790
Dr5p Trading and Investment P Limited	22200
Rakhi Goel	19035
SVP Distributors P Limited	10
Amarjyoti Vyapaar P Limited	10
Neptune Vinimay P Limited	10
Lumino Industries Limited	20500
Ideal Vyapaar Private Limited	10
Emson Trading Private Limited	10
Zany Vyapaar Private Limited	10
Sarthak Sales Private Limited	10
Raina Commodities Private Limited	10
Maheshwari Merchants Private Limited	10
Julex Distributors Private Limited	10
Tirupati Mercantiles Private Limited	10
Mubarak Lubricants Private Limited	10
Punya Leathers Private Limited	10
Diamond Financial Consultants Private Limited	10
Laser Electrical Industries Private Limited	23920
Sigma Vyapaar Private Limited	24325
Adishwar Trade Link Private Limited	23960
Welkon Goods Private Limited	14960
Sigma Sales Private Limited	10
TOTAL	244026

AS ON 30.09.2010

Equity Share Breakup		Percentage of Holding
Category
Bodies corporate		63.11
Directors or relatives of directors		33.28
	Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Cables/ Cables Accessories and Conductors

Products :

Product Description	ITC Code
Aluminum and Alloy Conductors	74.13

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Canara Bank (Lead Bank), Prime Corporate Branch, Bells House, 21, Camac Street, Ground Floor, Kolkata 700016, West Bengal, India

· Bank of Baroda, Alipore Branch, 38/1E, Gopal Nagar Road, Kolkata-700027, West Bengal, India

Facilities :

Rs. In Millions

SECURED LOAN	31.03.2011	31.03.2010
Cash Credit Loan
From Canara Bank	122.568	126.453
From Bank of Baroda	55.066	27.142
Buyers Credit Loan
From Canara Bank	0.000	19.930
From Bank of Baroda	0.000	16.476
Hire Purchase Loan
From Canara Bank	0.000	0.806
TOTAL	177.634	190.807
Note: A) Secured loan has been availed by the company on consortium basis, which is secured against the following assets: · Parri passu 1^st charge on stock of Raw Material, WIP, Consumable Material, FGS, Book Debts, Plant and Machiner · Equitable mortgage of Factory Land and Building / Shed · Personal guarantee of directors of the company · Corporate guarantee of M/s. Laser Eletrical Industries (P) Limited B) Hire purchase loan is secured against the respective Motor Car purchased under hire purchase arrangement. This loan has been squared off during the year.
UNSECURED LOAN
(Including Interest accrued and due there on)
From Body Corporate	105.626	44.288
From Others	2.079	1.923
TOTAL	107.705	46.211

Banking Relations :	--
Auditors :
Name :	SDP and Associates Chartered Accountant
Address :	46C, Chowringhee House, Everest House, Flat Bo. 14G, Kolkata 700071, West Bengal, India
Tel. No.:	91-33-30535007-10 / 22882944 – 46
Fax No.:	91-33-30535006
E-Mail :	sandeep@sdpa.in
Associates/Subsidiaries :	Nil

CAPITAL STRUCTURE

AS ON 30.09.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
300000	Equity Shares	Rs. 100 each	Rs.30.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
244026	Equity Shares	Rs. 100 each	Rs. 24.402 millions

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
850000	Equity Shares	Rs. 100 each	Rs. 85.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
427931	Equity Shares	Rs. 100 each	Rs. 42.793 millions

Note:

Out of the above 70605 equity shares of Rs. 100 each were issued during the year for consideration other than cash to the shareholders of Leaser Aluminium Company Limited on its amalgamation with the company pursuant to the scheme approved by the Honourable High Court of Kolkata.

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		42.793	24.403	24.403
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		324.594	170.926	147.414
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		367.387	195.329	171.817
LOAN FUNDS
1] Secured Loans		177.634	190.807	183.847
2] Unsecured Loans		107.705	46.211	43.357
TOTAL BORROWING		285.339	237.018	227.204
DEFERRED TAX LIABILITIES		5.316	5.542	4.435
TOTAL		658.042	437.889	403.456
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		142.818	95.617	82.144
Capital work-in-progress		0.000	0.000	0.430
INVESTMENT		70.305	28.937	26.766
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	142.820	71.866	26.299
	Sundry Debtors	286.328	434.225	353.732
	Cash & Bank Balances	116.767	34.707	33.749
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	80.414	98.972	54.198
Total Current Assets		626.329	639.770	467.978
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	100.266	172.270	100.018
	Other Current Liabilities	35.074	117.852	48.133
	Provisions	46.070	36.313	25.711
Total Current Liabilities		181.410	326.435	173.862
Net Current Assets		44.919	313.335	294.116
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		658.042	437.889	403.456

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Sales including Other Income	874.718	1274.349	1628.990
		TOTAL (A)	874.718	1274.349	1628.990
Less	EXPENSES
		Cost of Materials
		Manufacturing Expenses
		Employees Remuneration	800.507	1202.783	1592.410
		Increase/(Decrease) in Finished Goods
		TOTAL (B)	800.507	1202.783	1592.410
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		74.211	71.566	36.580
Less	FINANCIAL EXPENSES (D)		29.313	23.423	NA
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		44.898	48.143	36.580
Less/ Add	DEPRECIATION/ AMORTISATION (F)		16.960	12.361	9.465
	PROFIT BEFORE TAX (E-F) (G)		27.938	35.782	27.115
Less	TAX (H)		9.373	12.270	9.511
	PROFIT AFTER TAX (G-H) (I)		18.565	23.512	17.604
	IMPORTS
		Raw Materials	86.272	45.286	0.000
		Capital Goods	0.000	3.717	0.000
	TOTAL IMPORTS		86.272	49.003	0.000
	Earnings Per Share (Rs.)		58.95	96.35	--

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	2.12	1.84	1.08
Net Profit Margin (PBT/Sales)	(%)	3.19	2.80	1.66
Return on Total Assets (PBT/Total Assets}	(%)	3.63	4.88	4.92
Return on Investment (ROI) (PBT/Networth)		0.07	0.18	0.15
Debt Equity Ratio (Total Liability/Networth)		1.28	2.91	2.36
Current Ratio (Current Asset/Current Liability)		3.45	1.95	2.69

LOCAL AGENCY FURTHER INFORMATION

OPERATIONAL PERFORMANCE

The company had bagged export orders during the financial year under review and managed to do export business of approximately Rs. 122.000 millions. The Directors are continuously trying to tap more of overseas markets and bag export orders. The margins are still under tremendous pressure due to excess supply, stiff competition and volatile raw material prices.

SCHEME OF AMALGAMATION

During the year under review, the scheme of Amalgamation of Laser Aluminium Company Limited with the Company was approved by the High Court at Kolkata on 21/12/2010, a certified true copy of which was issued on 22/02/2011.

The factory of the Company at Polypark was taken on rent from Laser Aluminium Company Limited. The land area at Polypark measures approximately 4.25 acres, whose valuation as per valuation report dated 11^th May, 2010 stood at Rs. 84.500 millions. By this amalgamation they acquired the land area at Polypark along with other assets. This amalgamation benefited us in two ways. Firstly, the Company saved cost of rent paid for the factory space. Secondly, they got huge area of land, which can be used by the Company for its future expansion plans.

Also, the purchase consideration paid for this amalgamation was Rs. 49.700 millions, thereby benefitting us in terms of purchase consideration also.

Apart from the above, the financial resources of the Company will be conveniently merged and pooled together leading to a more effective and centralized management since the registered office of the company is same and the Directors are also common. It will also help in reducing administrative costs as well as increase its overall business efficiency. The said scheme will contribute in furthering and fulfilling the objects of the Company and in the growth, expansion and development of the business.

FIXED ASSETS:

· Computer and Printer

· Eclectic Installation

· Factory Shed

· Furniture and Fixture

· Office Equipments

· Motor Car and Bike

· Plant and Machinery

· Land

· Building

FORM 8

Corporate identity number of the company	U14220WB1988PTC043591
Name of the company	LASER CABLES PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	307, Swaika Centre, 3^rd Floor, 4A, Pollock Street, Kolkata 700001, West Bengal, India
This form is for	Modification of charge
Type of charge	Immovable property
Particular of charge holder	Canara Bank (Lead Bank), Prime Corporate Branch, Bells House, 21, Camac Street, Ground Floor, Kolkata 700016, West Bengal, India Email: tapankumarghosh@canbank.co.in
Nature of instrument creating charge	Ledtd For Additional Limit Granted On The Very Security (Original Deposit of Title Deeds made on 28/03/2007) (re-deposit of title deeds with Canara Bank, SME Branch towards facilities granted by the Consortium consisting of Canara Bank, Prime Corporate Bank (Lead Bank) and other members of the Consortium namely Bank of Baroda and Andhra Bank) for Rs.353.00 crores.
Date of instrument Creating the charge	15.01.2011
Amount secured by the charge	Rs. 3530.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest As stipulated by Consortium Banks Terms of repayment As stipulated by Consortium Banks Margin As stipulated by the Consortium Banks Extent and operation of the charge Extension of Equitable mortgage by re-deposit of title deeds of Company's Immovable property located at Biprannapara, P.S.Domjur, District Howrah in the State of West Bengal on pari-passu basis in favour of Canara Bank,the Lead Bank and Bank of Baroda and Andhra Bank, the other member Banks of the Consortium to the extent Overall limit of Rs.3530 millions. Other By this Consortium sanction Lead Bank Canara Bank revised its overall limits to Rs. 1765.000 millions. Bank of Baroda revised its limits to Rs.1235.500 millions and Andhra Bank revised its limits to Rs.529.500 millions. Total Consortium limit now stands revised to Rs.3530.000 millions. Other terms and conditions remain unchanged.
Short particulars of the property charged (Including location of the property)	Extension of Equitable mortgage by re-deposit of title deed namely Sale Deed No.3292 dated 06/05/2004 bearing J.L.No.27, R.S.Dag No.4036/4037 was created by the company with Canara Bank, SME Branch of its immovable property ad-measuring 69.58 decimals located at Biprannapara, Domjur, District- Howrah in the State of West Bengal on pari-passu basis in favour of the Consortium comprising of Canara Bank (lead bank) and Bank of Baroda and Andhra Bank, towards credit facilities extended by the said Consortium to M/s Lumino Industries Ltd. (The Borrower) for Overall limit of Rs.3530.000 millions. and Bank of Baroda and Andhra Bank, towards credit facilities extended by the said Consortium to M/s Lumino Industries Limited (The Borrower) for Overall limit of Rs.3530.000 millions. The entire Charge shall now vest with Canara Bank, Prime Corporate Branch, Kolkata (the Lead Bank) on behalf of the Consortium, on transfer of limits from Canara Bank, SME Branch.

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.51.35
UK Pound	1	Rs.80.97
Euro	1	Rs.69.26

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		48

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.