1. Summary Information

		Country	India
Company Name	SHEELA FOAM PRIVATE LIMITED	Principal Name 1	Mr. Rahul Gautam
Status	Good	Principal Name 2	Mrs. Sheela Gautam
		Registration #	55-5679
Street Address	C-55, Preet Vihar, First Floor, Vikas Marg, Delhi – 110 092
Established Date	18.06.1971	SIC Code	--
Telephone#	91-11-22467764/22222722	Business Style 1	Manufacturer
Fax #	91-11-22220624	Business Style 2	--
Homepage	http://www.sheelafoam.com	Product Name 1	Mattress
# of employees	Not Available	Product Name 2	Foam Pillow Covers
Paid up capital	Rs.240,952,000/-	Product Name 3	Bed Cushions
Shareholders	Bodies Corporate 51.42%, Directors or relatives of directors 42.57%, Other top fifty shareholders 0.01%	Banking	Central Bank of India
Public Limited Corp.	No	Business Period	40 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	Ba (52)
Related Company
Relation	Country	Company Name	CEO
Subsidiary Company	India	Joyce Foam Private Limited	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2010		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	1,367,569,000	Current Liabilities	769,873,000
Inventories	261,667,000	Long-term Liabilities	416,478,000
Fixed Assets	517,928,000	Other Liabilities	372,633,000
Deferred Assets	18,447,000	Total Liabilities	1,558,984,000
Invest& other Assets	886,409,000	Retained Earnings	1,252,084,000
		Net Worth	1,493,036,000
Total Assets	3,052,020,000	Total Liab. & Equity	3,052,020,000
Total Assets (Previous Year)	2,295,206,000
P/L Statement as of	31.03.2010		(Unit: Indian Rs.)
Total Income	6,422,300,000	Net Profit	202,700,000
Total Income (Previous yr)	5,310,500,000	Net Profit(Prev.yr)	201,727,000

MIRA INFORM REPORT

Report Date :

25.11.2011

IDENTIFICATION DETAILS

Name :	SHEELA FOAM PRIVATE LIMITED
Registered Office :	C-55, Preet Vihar, First Floor, Vikas Marg, Delhi – 110 092
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	18.06.1971
Com. Reg. No.:	55-5679
Capital Investment / Paid-up Capital :	Rs.240.952 Millions
CIN No.: [Company Identification No.]	U74899DL1971PTC005679
TAN No.: [Tax Deduction & Collection Account No.]	DELS21008B
PAN No.: [Permanent Account No.]	AAACS0189B
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturers of Flexible Polyurethane Foam products such as Mattress, Foam Pillow Covers, Bed Cushions and Covers.
No. of Employees :	Not available

RATING & COMMENTS

MIRA’s Rating :

Ba (52)

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

Maximum Credit Limit :	USD 5900000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well-established and reputed company having fine track. Financial position of the company appears to be sound. Directors are reported as an experienced and respectable businessmen. Trade relations are reported as fair. Business is active. Payments are reported to be regular 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 :	C-55, Preet Vihar, First Floor, Vikas Marg, Delhi – 110 092, India
Tel. No.:	91-11-22467764/22222722
Fax No.:	91-11-22220624
E-Mail :	sfpl@nda.vsnl.net.in contactus@sheelafoam.com rahul@sheelafoam.com ravinder.singh@sheelafoam.com iquebal.ahmad@sheelafoam.com
Website :	http://www.sheelafoam.com
Corporate Office :	Plot No. 37/2, Site IV, Sahibabad Industrial Area, District Ghaziabad - 201010, Uttar Pradesh, India
Tel. No.:	91-120-2770045/2770087/2775425/2770539/ 2770087
Fax No.:	91-120-2770366/2775427
E-Mail :	contactus@sheelafoam.com
Factory :	· Sahibabad, Uttar Pradesh, India · Plot No. 51 – A, Udyog Vihar, Greater Noida, District Gautam Budh Nagar, Noida – 201306, Uttar Pradesh, India · Sarajpur, Uttar Pradesh, India · Hyderabad, Andhra Pradesh, India · Plot No. 37/2, Site IV, Sahibabad Industrial Area, District Ghaziabad - 201010, Uttar Pradesh Tel. No. 91-120-270045/2770087/2775425 Fax No. 91-120-2770366/2775427 · Survey No. 261/1/2/3, Saily Umar Kui Road, Silvassa – 396230, Union Territory of Dadra and Nagar Haveli · Pondicherry, India · Rampo, Sikkim, India · A-10, Sector 8, Noida – 201,301, District Gautam Budh Nagar, Uttar Pradesh, India · Main Dadri Noida Road, Village Habibpur, District Gautam Budh Nagar, West Bengal, India · Plot No. 102/1, Madhuban Dam Road, Village Rakholi, Silvassa, Union Territory of Dadra and Nagar Haveli

DIRECTORS

As on 30.09.2010

Name :	Mr. Rahul Gautam
Designation :	Managing Director
Address :	D – 2, Diwanshree Apartment, 30, Ferozesaha Road, New Delhi – 110001, India
Date of Birth/Age :	18.11.1952
Qualification :	B. Tech. M.S. (Chemical Engineering) MS (USA)
Date of Appointment :	01.04.1996
DIN No.:	00192999

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	U74899DL1988PTC031115	Core Mouldings Private Limited	Director	18-04-88	18-04-88	-	Active	NO
2	U74899DL1971PTC005679	Sheela Foam Private Limited	Managing director	01-04-96	01-04-96	-	Active	NO
3	U74930DL1998PTC097723	Starlite India Private Limited	Director	31-12-98	31-12-98	-	Active	NO
4	U74899DL1999PTC102553	Dunlopillo (India) Private Limited	Director	26-11-99	26-11-99	-	Active	NO
5	U25206DL2006PTC152496	Sheela Woodbridge Urethanes Private Limited	Director	26-08-06	26-08-06	-	Active	NO
6	U25191DL2008PTC185158	SNB Bedding International Private Limited	Director	24-11-08	24-11-08	-	Active	NO
7	U74899DL1996PTC082937	Polyflex Marketing Private Limited	Director	20-10-09	20-10-09	-	Active	NO
8	U74899DL1990PTC041853	Rangoli Resorts Private Limited	Director	30-09-10	05-07-10	-	Active	NO

Name :	Ms. Namita Gautam
Designation :	Director
Address :	D – 2, Diwanshree Apartment, 30, Ferozesaha Road, New Delhi – 110001, India
Date of Birth/Age :	17.07.1953
Date of Appointment :	14.11.2003
DIN No.:	00190463

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	U74899DL1988PTC031115	Core Mouldings Private Limited	Director	01-06-89	01-06-89	-	Active	NO
2	U74899DL1990PTC041853	Rangoli Resorts Private Limited	Director	24-06-97	24-06-97	-	Active	NO
3	U74930DL1998PTC097723	Starlite India Private Limited	Director	31-12-98	31-12-98	-	Active	NO
4	U74899DL1971PTC005679	Sheela Foam Private Limited	Director	14-11-03	14-11-03	-	Active	NO
5	U74899DL1996PTC082937	Polyflex Marketing Private Limited	Director	20-10-09	20-10-09	-	Active	NO
6	U74899DL1999PTC102553	Dunlopillo (India) Private Limited	Director	30-09-10	20-10-09	-	Active	NO
7	U25191DL2008PTC185158	SNB Bedding International Private Limited	Director	30-09-10	19-01-10	-	Active	NO
8	U74899DL1994PTC062005	Sleepwell Enterprises Private Limited	Alternate director	15-06-10	15-06-10	-	Active	NO

Name :	Mr. Tushaar Gautam
Designation :	Director
Address :	603 Ashadeep – 9, Hailey Road, New Delhi – 110001, India
Date of Birth/Age :	21.05.1978
Date of Appointment :	01.04.2007
DIN No.:	01646487

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	U74899DL1971PTC005679	Sheela Foam Private Limited	Director	01-04-07	01-04-07	-	Active	NO
2	U25206DL2006PTC152496	Sheela Woodbridge Urethanes Private Limited	Director	30-09-10	29-10-09	-	Active	NO
3	U25191DL2008PTC185158	SNB Bedding International Private Limited	Director	30-09-10	19-01-10	-	Active	NO

Name :	Mrs. Sheela Gautam
Designation :	Chairman
Address :	D – 2, Diwanshree Apartment, 30, Ferozesaha Road, New Delhi – 110001, India
Date of Birth/Age :	15.11.1931
Date of Appointment :	18.06.1971
DIN No.:	00117059
Name :	Mr. Ravindra Kumar Sharma
Designation :	Director
Address :	289 – A, Road No. 12, MLA Colony, Banjara Hills - 500034, Hyderabad, India
Date of Birth/Age :	03.01.1957
Date of Appointment :	14.11.2003
DIN No.:	00235687
Name :	Mr. Rakesh Chahar
Designation :	Whole Time Director
Address :	12 -7, Nehru Enclave, Kalkaji Extension, New Delhi – 110049, India
Date of Birth/Age :	15.12.1964
Date of Appointment :	14.11.2003
DIN No.:	00180587

KEY EXECUTIVES

Name :	Mr. Md Iquebal Ahmed
Designation :	Secretary
Address :	25 – A, Gaffor Nagar, Jamia Nagar, New Delhi – 100025, India
Date of Birth :	20.05.1975
Date of Appointment :	17.11.2008
PAN No.:	ALRPA0540K

MAJOR SHAREHOLDERS

As on 30.09.2010

Names of Shareholders	No. of Shares
Sheela Gautam	5853960
Rahul Gautam	3293640
Namita Gautam	1893480
Tushaar Gautam	662640
K.K. Gautam	1
Polyflex Marketing Private Limited, India	4492312
Serta India Private Limited, India	7567960
Starlite India Private Limited, India	330000
Ravi Dhariwala and Rashmi Dhariwala	1
Ashish Sharma and J. K. Sharma	1
Versha H. Patel	1200
Kalpna Shrish Amin	1
Shobha Jagdish Amin	1
Uma Gautam	1
Radhey Shyam Sharma	1
Mala Tandon	1
TOTAL	24095200

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2010

Category	Percentage
Bodies Corporate (not mentioned above)	51.42
Directors or relatives of directors	48.57
Other top fifty shareholders (other than listed above)	0.01
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturers of Flexible Polyurethane Foam products such as Mattress, Foam Pillow Covers, Bed Cushions and Covers.

Products :

Item Code No.	Product Description
940429	Mattresses, Pillows, Cushions
392113	Sheets of Polyurethane Foam
39159005	Waste and Scrap of Polyurethane Foam

• PU Foam Mattress
• Sleep Products
• Sleepwell Flexi-Puf, the brand leader in comfort products, is exclusively made of Flexible PU Foam manufactured by Company.
• Sleepwell Flexi-Puf range includes products that are of special value to hospital and nursing homes.

PRODUCTION STATUS (AS ON 31.03.2010)

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Foam Block	Kgs	--	110000000	24660713
Rubbensed Cor Sheet	Kgs.	--	6000000	--

Particulars	Unit	Actual Production
P.U. Foam Sheet	MM	336830276
P.U. Foam Sheet	Nos.	3312746
P.U. Foam Sheet	Cub	--
P.U. Foam Sheet	Kgs.	8935825
P.U. Foam Rolls	Kgs.	2780763
P.U. Foam Rolls	Meters	1240729
P.U. Foam - Mattress	Nos.	362759
P.U. Foam – Cushions / Boisters / Pillows	Nos.	774899
P.U. Foam – Sofa N Bed / Wonder Couch	Nos.	2035
Coir – Mattress	Nos.	417395
Coir – Cushions / Boisters / Pillows	Nos.	1684

Notes:

1. Since licensing system under the industrial policy SIA has been dispensed with, the licensed capacity is being treated and disclosed as Not Applicable.
2. As certified by the plant In charge, on which the auditor have placed reliance, the installed capacity indicated above is of basic material (i.e. Foam Block and Rubberized Coir Sheet) manufactured in the company mother plants. Its is not practicable to indicate, precisely the installed capacity of each type of product marketed by the company. As the capacity of various product is overlapping for each product and is dependent on product on product mix, which in tum is decided by the actual demand for various product adopted from time to time.
3. The Quantities of raw material purchased, production, stock, class of goods and turnover are expressed in quantities denominations which these are normally purchased or sold.
4. During the company sold P U Foam Sheets in UOM under Kg. MM. Cub and Nos. as against UOM Kg. in previous year. The previous year figures of PU Foam Sheets have not been reclassified.
5. Foam Block Production is inclusive of job work in current year 2009-10 is 40254 Kgs. And Previous Year 2008-09 is 636.508 Kgs.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• Central Bank of India, Parliament Street, Patel Chowk Jeevan Tara Building, New Delhi – 110001, India
• Standard Chartered Bank, Narain Manzil, 23, Barakhamba Road, New Delhi – 110001, India
• Jammu and Kashmir Bank Limited, New Delhi, India
• The Hongkong and Shanghai Banking Corporation Limited, Birla Towers, 25 Barakhamba Road, New Delhi - 110001, India

Facilities :

Secured Loans	31.03.2010 Rs. in Millions	31.03.2009 Rs. in Millions
From Banks
Cash Credit Facilities	234.345	184.715
Term Loan	0.000	52.646
Vehicle Finance	0.054	1.999
Sikkim Industrial Development Authority	0.000	0.436
Total	234.399	239.796
Unsecured Loans	31.03.2010 Rs. in Millions	31.03.2009 Rs. in Millions
Interest Bearing
Deposit from Directors and Relatives	13.210	14.301
Deposit from Shareholders	10.921	12.609
Inter Corporate Deposit	12.661	25.780
From Citi bank N. A.	100.000	0.000
Non Interest Bearing
Deferred Sales Tax Liability	45.286	45.287
Total	182.079	97.977

Banking Relations :	--
Auditors :	Gupta and Gupta Chartered Accountants
Address:	4/8, Asaf Ali Road, New Delhi – 110 002, India
Tel. No.:	91-11-23279527/23276456
Fax No.:	91-11-23280660
PAN No.:	AAAFG2405F
Associates :	Sleepwell Enterprises Private Limited Polyflex Marketing Private Limited Sterlite India Private Limited Dunlopillo India Private Limited Rangoli Resorts Private Limited Core Mouldings Private Limited Sheela Woodbridge Urethanes Private Limited SNB Bedding International Private Limited Sleepwell Foundation
Subsidiaries:	Kanpav Overseas Private Limited-U51909DL1998PTYC092164 Auora Foams Private Limited – U25209DL2000PTC108174 Joyce Foam Private Limited Serta India Private Limited – U17214DL1997PTC088132

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
30000000	Equity Shares	Rs. 10/- each	Rs 300.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
24095200	Equity Shares	Rs. 10/- each	Rs 240.952 Millions

Of the above:

(22000000 Equity Shares have been allotted as bonus shares by capitalization from General Reserve)

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		240.952	240.952	240.952
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		1252.084	989.416	787.689
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1493.036	1230.368	1028.641
LOAN FUNDS
1] Secured Loans		234.399	239.796	322.319
2] Unsecured Loans		182.079	97.977	161.580
TOTAL BORROWING		416.478	337.773	483.899
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		1909.514	1568.141	1512.540
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		517.928	547.223	553.969
Capital work-in-progress		101.128	16.764	24.522
Preoperative Expenses (pending for allocation)		0.000	1.666	1.012
INVESTMENT		785.281	232.146	174.787
DEFERREX TAX ASSETS		18.447	14.234	8.959
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	261.667	238.939	246.722
	Sundry Debtors	742.289	777.220	652.876
	Cash & Bank Balances	34.409	21.322	14.548
	Other Current Assets	576.540	16.170	19.699
	Loans & Advances	14.331	428.749	269.619
Total Current Assets		1629.236	1482.400	1203.464
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	597.260	387.172	241.281
	Other Liability	172.613	79.752	60.920
	Provisions	372.633	260.141	152.014
Total Current Liabilities		1142.506	727.065	454.215
Net Current Assets		486.730	755.335	749.249
MISCELLANEOUS EXPENSES		0.000	0.773	0.042
TOTAL		1909.514	1568.141	1512.540

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	6422.300	5310.500	4280.200
		Other Income
		TOTAL (A)	6422.300	5310.500	4280.200
Less	EXPENSES
		Office Expenses	5947.900	4894.900	3897.400
		Administrative Expenses
		Advertising Expenses
		TOTAL (B)	5947.900	4894.900	3897.400
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		474.400	415.600	382.800
Less	INTEREST (D)		18.000	41.300	45.300
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		456.400	374.300	337.500
Less/ Add	DEPRECIATION/ AMORTISATION (F)		59.800	69.900	71.800
	PROFIT BEFORE TAX (E-F) (G)		396.600	304.400	265.700
Less	TAX (H)		193.900	102.700	94.000
	PROFIT AFTER TAX (G-H) (I)		202.700	201.700	171.700
Less	APPROPRIATIONS
		Transfer to General Reserve	100.000	100.000	150.000
	BALANCE CARRIED TO THE B/S		162.700	101.700	201.700
	EARNINGS IN FOREIGN CURRENCY
		Export of FOB	106.974	82.547	35.522
		Export of FOB Machinery/Machinery parts	0.000	0.000	0.027
		Export of FOB of I. T. Enable Services	31.699	28.211	25.776
		Management Fees Received	2.416	2.139	2.059
	TOTAL EARNINGS		141.089	112.897	63.384
	IMPORTS
		Raw Materials	912.384	611.225	318.214
		Stores, packing Material Spare Parts and Components	12.681	3.571	12.843
		Capital Goods	27.124	53.301	4.916
	TOTAL IMPORTS		952.189	668.097	335.973
	Earnings Per Share (Rs.)		8.41	8.31	7.13

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	3.16	3.80	4.01
Return on Total Assets (PBT/Total Assets}	(%)	18.47	15.00	15.12
Return on Investment (ROI) (PBT/Networth)		0.27	0.25	0.26
Debt Equity Ratio (Total Liability/Networth)		1.04	0.87	0.91
Current Ratio (Current Asset/Current Liability)		1.43	2.04	2.65

LOCAL AGENCY FURTHER INFORMATION

FINANCIAL RESULTS:

During the year ended March, 31 2010, the turnover of the Company increased by 19.73% and profit before tax by 30.29%

The above chart shows increased turnover on the year to year since 2001-2002. During the last years the company increased its turnover by more than five time over year 2001.

DISTRIBUTION OF REVENUE:

There has been an all around good performance of the company. This along with various measures undertaken by the management has resulted in substantial improvement in the net worth of the company.

FIRE:

In the current financial year 2009-10 fire occurred at Company’s unit at Greater Noida on dated 27th August, 2009 which affected rebonded foam manufacturing production line and curing and storage shed. Major part of the affected fire area is under reconstruction and machineries under installation. Semi-finished goods, finished goods, consumables and packing goods stored in shed were completely burnt valued Rs.53.000 Millions. A part of curing and storage building shed was also affected during fire incident and company incurred Rs.71.100 Millions (net of salvage) towards repair/restoration up to 31.3.2010. Plant Machinery and other equipment installed in manufacturing line and shed, were also destroyed and burnt in fire. The loss on account of plant and machinery due to fire is Rs.23.200 Millions (net of salvage) has been charged to Profit and Loss, Rs.35.500 Millions machinery replaced is being carried over in capital work in progress pending capitalization.

Insurance claim for the loss was filed during the year, which has neither settled nor the surveyor’s assessment of the loss has been communicated till date. In the circumstances as a prudent and conservative accounting policy due to uncertainty of the status of the claim and of the claim amount including the legal advise obtained by the company in the matter, the claim amount as when received will be offered as income of that relevant year.

OPERATIONS:

During the period, The company produced 24,661 tons of foam as compared to 20,907 tons in previus year showing growth of 17.96%. All manufacturing units of the company contributed in this growth. Operating profitability continues to be under pressure because of increase in administrative and other expenses and marketing and selling overheads.

During the financial year the company achieved highest ever sales. This happened all because of innvovative marketing strategies conceived and implemented to push products through effective Dealer/Distributors chain. The company maintained its presence across the country.

The export of Foam and Comfort products have shown consistent growth in the last four year and the company has achieved a turnover in this year. The global demand for Foam and Comfort products is estimated to grow in coming years and with company’s participation in trade shows, it will further strengthen company’s endeavour to reach foreign customers and establish Sheela Foam’s name in the global arena. Additionally, the IT Division of company clocked a turnover of exports of software and IT enabled services of Rs.31.600 Millions during the year.

FUTURE OUTLOOK:

The Company intends to promote Sleepwell brand for the comfort product segment through ‘Sleepwell Division’ and to provide services to customers by timely delivery alongwith variety of products and price range. For this the company has opened new retail outlets during the year under the name — Sleepwell Exdusive Show Room, Sleepwell Gallery and Sleepwell World, all across India and more are under pipeline in coming years. This will help the company in providing a larger range of products to its customers. With this new marketing strategy your Company expects to increase turnover and improve margin in the coming times.

The demand in Industrial, Institutional and Technical segment of foam continues to witness strong growth momentum. Led by dedicated work force alongwith increased range of new products, the market in this segment is expected to grow further in coming years. Foam usage in today’s Industry has become increasingly attractive for Fashion, Footwear, Garments, Genset, Oil, Hotel, Packaging Industry etc. as they aggressively pursue growth opportunities in the emerging market.

The Company for the first time is pursuing Research and Development activity. A new department has been formed to develop variety of foam applications and enhance quality

CONTINGENT LIABILITY:

(Rs In Millions)

Particulars	31.03.2010	31.03.2009
Letter of Credit	8.779	11.758
Bank Guarantee*	337.264	6.832
Excise Duty	25.079	25.079
Sales Tax	183.074	145.455
Income Tax	0.000	0.023

FORM 8 :

Corporate identity number of the company	U74899DL1971PTC005679
Name of the company	SHEELA FOAM PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	C-55, Preet Vihar, First Floor, Vikas Marg, Delhi – 110 092, India E-Mail : ravinder.singh@sheelafoam.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10207442
Type of charge	Immovable property Book debts Movable property (not being pledge) Floating charge Others (All Current Assets and Fixed Assets of the Company)
Particular of charge holder	Yes Bank Limited, 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India E-Mail : delhicadmidoffice@yesbank.in
Nature of instrument creating charge	Letter of ceding charge from Central Bank of India dated April 6, 2011
Date of instrument Creating the charge	06.04.2011
Amount secured by the charge	Rs.150.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest WCDL/ PCFC/ PSFC/ BC : To be decided by the lender. CC: Yes Bank Base Rate minus 3.50% p.a. SLC/ ULC/ FBG: 1.00% p.a. Terms of repayment Working Capital Demand Loan (WCDL): Bullet repayment at the end of the tenor Cash Credit (CC): Payable on demand Packing Credit in Foreign Currency (PCFC)/ Post Shipment Credit in Foreign Currency (PSFC)/ Buyer's Credit (BC)/ Sight Letter of Credit (SLC)/ Usance Letter of Credit (ULC)/ Financial Bank Guarantee (FBG): NA Margin WCDL/ CC: 25% on [Debtors (not more than 90 days old) plus Stocks minus Creditors] PCFC/ PSFC/ BC: NA SLC/ ULC/ FBG: 5% of the facility amount in the form of Fixed Deposit Receipts duly lien marked in favour of Yes Bank Limited Extent and operation of the charge First Pari Passu charge on whole of current assets of the borrower (both present and future) Second Pari Passu charge on whole of Movable Fixed Assets of the borrower (both present and future) Second Pari Passu charge on whole of Immovable Fixed Assets of the borrower (both present and future)
Short particulars of the property or asset(s) charged (including complete address and location of the property)	A. First Pari Passu charge whole of Current Assets of the borrower's stocks of raw material, semi-finished and finished goods, stores and spares, Bills Receivable and Book Debts (both present and future) B. Second Pari Passu charge on whole of Movable Fixed Assets of the borrower (both present and future) located at:- Plot No. 37/2, Site 4, Sahibabad Industrial Area, Gaziabad Village Habibpur, Noida Dadri Road Surajpur Survey No. 261/1/2/3, Saily Umar Kui Road, Silvassa Rakholi Village, Silvassa Plot No. 51-A, Udyog Vihar, Greater Noida National Highway No. 31A, Baghey Khola, P.O. Majitar, Rangpo, East Sikkim Survey No. 852, Medchal Industrial Area, R.R. District, Hyderabad Survey No. 257, Saily Umar Kui Road, Silvassa Mainthpal Nahan Road, Kala Amb, Sirmour H.P. C-55, Vikas Marg, Preet Vihar, Delhi – 92 C. Second Pari Passu charge on whole of Immovable Fixed Assets of the borrower (both present and future) located at:- Plot No. 37/2, Site 4, Sahibabad Industrial Area, Gaziabad Village Habibpur, Noida Dadri Road Surajpur Survey No. 261/1/2/3, Saily Umar Kui Road, Silvassa Rakholi Village, Silvassa Plot No. 51-A, Udyog Vihar, Greater Noida National Highway No. 31A, Baghey Khola, P.O. Majitar, Rangpo, East Sikkim Survey No. 852, Medchal Industrial Area, R.R. District, Hyderabad Survey No. 257, Saily Umar Kui Road, Silvana Mainthpal Nahan Road, Kala Amb, Sirmour Khata No. 74, Village Talwada, Umagram, Valsad, Gujarat Durgapur Expressway, P.S. Dankuni, P.O. Dankuni Coal Complex, Hooghley, West Bengal C-55, Vikas Marg, Preet Vihar, Delhi – 92
Date of instrument modifying the charge	15.03.2010
Particulars of the present modification	Present modification is pursuant to following additional security provided by the Borrower to secure existing credit facilities:- Second Pari Passu charge on whole of Immovable Fixed Assets of the borrower (both present and future)

FIXED ASSETS:

• Land
• Building
• Plant and Machinery
• Material Handling Equipment
• Packing Machine
• Tools and Equipments
• Electrical Equipments
• Storage and Pipelines
• Fire Preventive Equipments
• Laboratory Equipments
• Pollution Control Equipments
• Moulds and Dies
• Electrical Fittings
• Furniture and Fixtures
• Office Equipments
• Communication Equipments
• IT Equipments
• Vehicles

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.52.25
UK Pound	1	Rs.81.23
Euro	1	Rs.69.83

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
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	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		52

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

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

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

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
-	NB	New Business	-

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.