MIRA INFORM REPORT

Report Date :

30.11.2011

IDENTIFICATION DETAILS

Name :	BOSCH CHASSIS SYSTEMS INDIA LIMITED (w.e.f. January 2006)
Formerly Known As :	KALYANI BRAKES LIMITED
Registered Office :	Godrej Millennium, 3^rd Floor, Koregaon Park, Pune – 411001, Maharashtra
Country :	India
Financials (as on) :	31.12.2010
Date of Incorporation :	25.05.1982
Com. Reg. No.:	11-027224
Capital Investment / Paid-up Capital :	Rs. 207.930 Millions
CIN No.: [Company Identification No.]	U34300PN1982PLC027224
TAN No.: [Tax Deduction & Collection Account No.]	NSKK00678G PNEK00047F
PAN No.: [Permanent Account No.]	AAACK7312E
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Automotive Brake Systems and Components.
No. of Employees :	3500 [Approximately]

RATING & COMMENTS

MIRA’s Rating :

A (65)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	14450000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established company having fine track. Available information indicates high financial responsibility of the company. Fundamentals are strong and healthy. Trade relations are fair. Business is active. Payments are reported to be regular and correct. The company can be considered good for any normal business dealings.

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 DECLINED BY

Name :	Mr. Sebeson
Designation :	Chief Finance Officer
Date :	22.11.2011

LOCATIONS

Registered Office :	Godrej Millennium, 3^rd Floor, Koregaon Park, Pune – 411001, Maharashtra
Tel. No.:	91-20-39870302 / 39870300
Fax No.:	91-20-26810007/26111511
E-Mail :	mandar.ratnaparkjhi@rbic.co.in nitin.sathye@in.bosch.com vijay.dighe@in.bosch.com
Website :	www.bcsilscm.com www.boschindia.com
Corporate Office :	Aurora Towers, 4^th Floor, 9, Moledina Road, Pune – 411 001, Maharashtra, India
Tel. No.:	91-20-26131021 / 23 / 24 / 25 / 39870300
Fax No.:	91-20-26133704
E-Mail :	kbxLimited@vsnl.com mandar@kbxltd.com
Website :	http://www.kbxltdcom
Factory 1 :	Off NH 6, Bambhori, Taluka Erandol, District Jalgaon – 425 001, Maharashtra
Factory 2 :	Nanekarwadi, Tal-Khed, District – Pune, Maharashtra, India
Tel. No.:	91-20-39870302
Fax No.:	91-20-26810007
Factory 3 :	Plot No. 9, Sector 3, Ch. Devilal Imt Manesar, Gurgaon, Haryana, India
Tel. No.:	91-124-2123569 / 2290528 / 3090358
Fax No.:	91-124-2123540 / 2290638
E-Mail :	kbxgrg@vsnl.com
Factory 4:	Eldeco Sidcul Industrial Park, Sitargarj, District. Udham Singh Nagar – 262403, Uttarkhand, India

DIRECTORS

As on 15.06.2011

Name :

Mr. Gerhard J Steiger

Designation :

Chairman cum Managing Director

Address :

Panirama Strasse, 36 Weil Der Stadt, Germany 71263

Date of Birth/Age :

23.05.1958

Date of Appointment :

22.12.2009

DIN No.:

02946897

Name :

Mr. Sanjay Sharad Vaidya

Designation :

Director

Address :

67, Shailesh Housing Society, Vipul , Karvenagar, Pune – 411052, Maharashtra, India

Date of Birth/Age :

09.08.1955

Date of Appointment :

27.03.2002

DIN No.:

00024245

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	L36759MH1985PLC036759	Sharp India Limited	Director	07-05-01	07-05-01	-	Active	NO
2	L40108PN2000PLC015323	BF Utilities Limited	Director	16-06-01	16-06-01	-	Active	NO
3	U34300PN1982PLC027224	Bosch Chassis Systems India Limited	Director	27-03-02	27-03-02	-	Active	NO
4	U72200PN2002PTC017103	Applied Thermal Technologies India Private Limited	Director	01-07-02	01-07-02	-	Active	NO
5	U85110KA2000PLC026939	Nandi Economic Corridor Enterprises Limited.	Director	23-12-03	23-12-03	-	Active	NO
6	U85110KA1996PLC019619	Nandi Infrastructure Corridor Enterprise Limited	Director	21-04-04	21-04-04	-	Active	NO
7	L27104MH1973PLC016350	Kalyani Steels Limited	Director	26-08-06	30-10-05	-	Active	NO
8	U85110PN1996PLC099499	Sahyadri Hospitals Limited	Director	23-12-05	23-12-05	-	Active	NO
9	U31909PN2006PLC129138	BF Systems Limited	Director	29-09-06	29-09-06	-	Strike off	NO
10	U85110KA1996PLC019621	Nandi Highway Developers Limited	Director	30-09-06	30-09-06	-	Active	NO
11	U72200MH1998PTC114693	Fluent India Private Limited	Alternate director	22-12-06	22-12-06	-	Active	NO
12	U74140PN2007PTC131026	Valueqb Consulting Private Limited	Director	23-11-07	23-11-07	-	Active	NO
13	L25111TN1960PLC004306	MRF Limited	Director	10-02-11	23-01-09	-	Active	NO
14	L65993PN2009PLC134196	Kalyani Investment Company Limited	Director	24-11-10	31-03-10	-	Active	NO
15	U34200PN2011PLC140066	Foundation Brake Manufacturing Limited	Director	05-07-11	05-07-11	-	Active	NO

Name :

Mr. Vegulaparanan Kasi Viswanathan

Designation :

Director

Address :

No. 289, 38^th Cross, 8^th Block, Jayanagar, Bangalore – 560082, Karnataka, India

Date of Birth/Age :

20.11.1950

Date of Appointment :

01.02.2008

DIN No.:

01782934

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	L85110KA1951PLC000761	Bosch Limited	Managing director	01-01-11	01-11-07	-	Active	NO
2	U51109KA1992PTC013736	Mico Trading Private Limited	Director	27-02-08	07-01-08	-	Active	NO
3	U72400KA1997PLC023164	Robert Bosch Engineering and Business Solutions Limited	Director	31-01-08	31-01-08	-	Active	NO
4	U29120GJ1974PLC002468	Bosch Rexroth (India) Limited	Director	01-02-08	01-02-08	-	Active	NO
5	U34300PN1982PLC027224	Bosch Chassis Systems India Limited	Director	01-02-08	01-02-08	-	Active	NO
6	U99999MH1956NPL009708	The Indo German Chamber of Commerce	Director	07-04-08	07-04-08	-	Active	NO
7	U31103TN2008PTC067493	Bosch Electrical Drives India Private Limited	Director	25-04-08	25-04-08	-	Active	NO
8	U29221KA2008PTC045987	Bosch Automotive Electronics India Private Limited	Director	29-09-09	01-01-09	-	Active	NO
9	U29120PN1994PTC079126	Hagglunds Drives (India) Private Limited	Director	02-09-10	02-09-10	-	Active	NO
10	U29300MH1997PTC110691	BSH Home Appliances Private Limited	Additional director	09-12-10	09-12-10	-	Active	NO
11	U26941TN2000PTC044765	Flsmidth Private Limited	Director	29-09-11	05-05-11	-	Active	NO
12	U34200PN2011PLC140066	Foundation Brake Manufacturing Limited	Director	05-07-11	05-07-11	-	Active	NO

Name :

Mr. Dhiraj Brij Wali

Designation :

Managing Director

Address :

505, 5^th Floor, Olimpus, ll, Prestiged Acropolis, 20 Hosur Road, Koramangala, Bangalore – 560029, Karnataka, India

Date of Birth/Age :

06.06.1962

Qualification :

B.E. (E and C)

Experience :

25 Years

Date of Appointment :

01.04.2010

DIN No.:

02975290

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	U34300PN1982PLC027224	Bosch Chassis Systems India Limited	Managing director	01-04-10	01-04-10	-	Active	NO
2	U25199MH1989PLC050925	Precision Seals Manufacturing Limited	Director	07-06-10	01-04-10	-	Active	NO
3	U34200PN2011PLC140066	Foundation Brake Manufacturing Limited	Director	05-07-11	05-07-11	-	Active	NO

Name :

Mr. Deepak Shambunath Mahendra

Designation :

Whole Time Director

Address :

F 103, Casuarina Marigold, Kalyan Nagar, Pune – 411014, Maharashtra, India

Date of Birth/Age :

08.02.1953

Date of Appointment :

01.04.2010

DIN No.:

00213074

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	U25199MH1989PLC050925	Precision Seals Manufacturing Limited	Director	11-08-93	11-08-93	-	Active	NO
2	U34300PN1982PLC027224	Bosch Chassis Systems India Limited	Whole-time director	01-04-10	01-04-10	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Vijay Dnyanoba Dighe
Designation :	Secretary
Address :	Matoshri, 3^rd Floor, 742, Guruwar Peth, Pune – 411042, Maharashtra, India
Date of Birth/Age :	01.06.1964
Date of Appointment :	22.12.09
Name :	Mr. Berg A
Designation :	Vice President ( ABS and ESP)
Date of Birth/ Age :	42 Years
Qualification:	Diploma in Mathematics and Computer Science (Germany)
Experience :	17 Years
Date of Appointment:	08.10.2007
Past Employment :	Project Manager, Robert Bosch GmbH Abstatt, Germany ( 3 years)
Name :	Mr. Balasubramanian V
Designation :	Vice President
Date of Birth/Age :	50 Years
Qualification :	B. Sc (Mechanical Engineering DBA )
Experience :	28 Years
Date of Appointment :	08.11.1989
Past Employment :	Sales Engineering Brakes India Limited 7 Years
Name :	Mr. Harikoshi S
Designation :	Technical Advisor
Date of Birth/Age :	50 Years
Qualification :	B.E Mechanical
Experience :	26 Years
Date of Appointment :	25.07.2009
Past Employment :	Manager – Process Engineering, Bosch Corporation, Japan 25 Years
Name :	Jain R B
Designation :	Vice President
Date of Birth/Age :	48 Years
Qualification :	B.E (Production)
Experience :	26 Years
Date of Appointment :	01.08.1985
Past Employment :	Trainee Engineering, Supreme Industries Limited 1 Years
Name :	Joshi P B
Designation :	Vice President
Date of Birth/Age :	51 Years
Qualification :	M. Sc, M. Tech
Experience e :	27 Years
Date of Appointment :	23.08.1993
Past Employment :	Manager, (Development and Quality Control ) Perfect Oil Seal and Industrial Rubber Products 1 years
Name :	Kadabur C
Designation :	Vice President
Date of Birth/Age :	44 Years
Qualification :	B.E. (Mechanical) M.B.A.
Experience e :	21 Years
Date of Appointment :	01.04.2009
Past Employment :	Dy. General Manager, Bosch Limited, 20 Years
Name :	Mr. Ravi Kapoor
Designation :	Executive Vice President and Chief Financial Officer
Date of Birth/Age :	55 Years
Qualification :	B Tech, MMS
Experience e :	31 Years
Date of Appointment :	01.09.2006
Past Employment :	Piaggio Vehicles Private Limited ( Director (Finance))
Name :	Keifer B
Designation :	Senior Manager (Application Engineering)
Date of Birth/Age :	40 Years
Qualification :	Ph. D (Physics)
Experience e :	14 Years
Date of Appointment :	01.02.2009
Past Employment :	Section Manager, Robert Bosch, Korea 41/2 Years
Name :	Mr. Mahendra D S
Designation :	Executive Vice President (Chakan)
Date of Birth/ Age :	58 Years
Qualification:	B Tech,
Experience:	35 Years
Date of Appointment:	01.01.1988
Past Employment :	Manager (Materials) Bharat Forge Limited
Name :	Mr. Nanbjanath A R
Designation :	Executivbe Vice President (Jalgaon)
Date of Birth/ Age :	63 Years
Qualification:	B.Tech, S.Sc (Engineering), London
Experience:	41 Years
Date of Appointment:	16.12.2002
Past Employment :	Vice President ( Manufacturing) Rane (Madras) Limited
Name :	Palkar M M
Designation :	Vice President
Date of Birth/ Age :	61 Years
Qualification:	B. Tech (Auto Engineering)
Experience:	39 Years
Date of Appointment:	06.02.1984
Past Employment :	Assistant Manager – R and D Escorts Limited, 2 Years
Name :	Raajha M P
Designation :	Vice President
Date of Birth/ Age :	39 Years
Qualification:	B.E. (Mechanical) M.Sc (M/c Design)
Experience:	17 Years
Date of Appointment:	25.09.2006
Past Employment :	Practice Head – PLM Solution Daimler Charysler Research and Technology India Limited, 11/2 Years
Name :	Sridhar V
Designation :	Vice President
Date of Birth/ Age :	47 Years
Qualification:	B.E. (Mechanical), M. Tech, MBA
Experience:	26 Years
Date of Appointment:	20.10.2009
Past Employment :	General Manager (Operation) Rane TRW Steering Systems Limited, 11 Years
Name :	Mr. Sebeson
Designation :	Chief Finance Officer

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.06.2011

Names of Shareholders	No. of Shares	Percentage of Holding
Promoters	16634094	79.99
Mutual Funds	803328	3.86
Financial Institutions	5830	0.03
FIIs (Foreign Mutual Funds)	38212	0.18
Bodies Corporate	824927	3.98
NRIs/OCBs	42833	0.21
Indian Public	2443776	11.75
Total	20793000	100.00

As on 15.06.2011

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	97.96
Bodies corporate	0.06
Others	1.92
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Automotive Brake Systems and Components.

Products :

Item Code No. (ITC Code)	Products Description
87083900	Hydraulic, Air, Air Over Hydraulic Brake Components Trading of Brake Fluid Master Cylinders Drum Brakes Calipers

PRODUCTION STATUS

As on 31.12.2010

Particulars	Unit	Installed Capacity	Actual Production
Hydraulic, Air and Air over Hydraulic brake component	PCS ('000)	45653	--
Hydraulic Brake Components
a) Rear Brake Assembly	PCS ('000)	--	3529
b) Tandem Master Cylinder	PCS ('000)	--	2583
c) Front Caliper Assembly	PCS ('000)	--	886
d) Rotors (Discs)	PCS ('000)	--	1054
e) Two Wheeler Brakes	PCS ('000)	--	--
f) Brake Fluid	Ltrs ('000)		2388

GENERAL INFORMATION

No. of Employees :

3500 [Approximately]

Bankers :

• State Bank of India, Tara Chambers, Wakadewadi, Pune Mumbai Road, Pune – 411003, Maharashtra, India
• Citibank N. A.
• IDBI Bank

Facilities :

UNSECURED LOANS	31.12.2010 Rs. In Millions	31.12.2009 Rs. In Millions
Deferred Sales Tax (Includes Rs. 12.791 millions repayable within one year (Previous year Rs. 13.431 millions)]	362.419	397.990
TOTAL	362.419	397.990

Banking Relations :	--
Auditors :
Name :	Lovelock and Lewes Chartered Accountants
Address :	Mutha Towers, Suit No.8, 5^th Floor, Airport Road, Yerawada, Pune – 411006, Maharashtra, India
E-Mail :	AABFK5878L
Ultimate holding Company :	Robert Bosch GmBH, Germany
Subsidiaries :	Precision Seals Manufacturing Limited Cin No. U25199MH14989PLC050925
Fellow Subsidiaries :	Robert Bosch Travoes Unipessoal Limiteda, Portugal Bosch Corporation Shibuya Ku, Japan Robert Bosch Sp. Z.O.O., Poland Bosch Systems De Freinage S.A.S., France Bosch Sistemas De Franado, S.L., Spain Bosch Automotive Thailand Company Limited, Thailand Bosch Fren Sistemleri Sanayi Ve Ticaret A.S., Turkey Robert Bosch Limitada, Brazil Robert Bosch Korea Mechanics and Electronics Limited Robert Bosch Australia Bosch Automotive Products Company Limited Bosch Technologies Diesel Sistemi Frenanti S.P.A BKJC (Thailand) Company Limited Bosch, Italy
Joint Ventures :	Robert Bosch Corporation, USA Robert Bosch Investment Netherlands

CAPITAL STRUCTURE

As on 31.12.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
25000000	Equity Shares	Rs. 10/- each	Rs. 250.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
20793000	Equity Shares	Rs. 10/- each	Rs.207.930 Millions

Note:

(Of the above shares, 10396500 shares of Rs. 10 each are allotted as fully paid bonus shares by capitalization of share premium)

(Of the above shares 10396194 and 9968510 Equity shares of Rs 10 each are held by Robert Bosch LLC and Robert Bosch Investment Nederland B.V. respectively, subsidiaries of ultimate holding company)

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.12.2010	31.12.2009	31.12.2009
SHAREHOLDERS FUNDS
1] Share Capital		207.930	207.930	207.930
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		3404.078	2911.632	2459.495
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		3612.008	3119.562	2667.425
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		362.419	397.990	411.421
TOTAL BORROWING		362.419	397.990	411.421
DEFERRED TAX LIABILITIES		103.470	142.721	31.944
TOTAL		4077.897	3660.273	3110.790
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1782.430	1844.428	1334.025
Capital work-in-progress		325.614	134.224	531.409
INVESTMENT		2108.044	560.067	755.443
DEFERREX TAX ASSETS		598.690	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1007.781	579.979	642.908
	Sundry Debtors	1100.117	814.046	701.656
	Cash & Bank Balances	615.314	687.554	597.091
	Other Current Assets	0.000	0.000	15.822
	Loans & Advances	584.459	608.133	334.699
Total Current Assets		3307.671	2689.712	2292.176
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1652.307	1418.698	1530.772
	Other Current Liabilities	160.180	7.559	56.394
	Provisions	124.021	141.901	215.097
Total Current Liabilities		1936.508	1568.158	1802.263
Net Current Assets		1371.163	1121.554	489.913
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		4077.897	3660.273	3110.790

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.12.2010	31.12.2009	31.12.2008
	SALES
		Income	8102.214	5923.204	5311.692
		Other Income	299.271	318.992	310.603
		TOTAL (A)	8401.485	6242.196	5622.295
Less	EXPENSES
		Raw Materials Consumed	5392.770	3895.211	3561.913
		Increase/Decrease in Stock	(13.286)	(103.039)	(27.068)
		Other Manufacturing Expenses	1396.127	1091.999	939.646
		Employ Emoluments	676.637	536.427	482.435
		Exceptional Items	0.000	0.000	(630.369)
		TOTAL (B)	7452.248	5420.598	4326.557
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		949.237	821.598	1295.738
Less	INTEREST/ FINANCIAL EXPENSES (D)		5.601	7.361	6.422
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		943.636	814.237	1289.316
Less/ Add	DEPRECIATION/ AMORTISATION (F)		320.138	279.756	224.759
	PROFIT BEFORE TAX (E-F) (G)		623.498	534.481	1064.557
Less	TAX (H)		131.052	82.344	299.167
	PROFIT AFTER TAX (G-H) (I)		492.446	452.137	765.390
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		2379.783	1966.646	1201.256
Less	APPROPRIATIONS
		Transfer to General Reserve	--	39.000	--
	BALANCE CARRIED TO THE B/S		2872.229	2379.783	1966.646
	EARNINGS IN FOREIGN CURRENCY
		Export Sales on FOB basis	191.814	130.001	241.766
		Other Earnings	0.000	4.190	69.647
	TOTAL EARNINGS		191.814	134.191	311.413
	IMPORTS
		Raw Materials and Components	1439.314	844.139	769.336
		Capital Goods	31.602	96.765	449.059
		Stores & Spares	19.924	10.689	9.474
	TOTAL IMPORTS		1490.840	951.593	1227.869
	Earnings Per Share (Rs.)		24.00	22.00	37.00

KEY RATIOS

PARTICULARS		31.12.2010	31.12.2009	31.12.2008
PAT / Total Income	(%)	5.86	7.24	13.61
Net Profit Margin (PBT/Sales)	(%)	7.42	9.02	20.04
Return on Total Assets (PBT/Total Assets}	(%)	12.25	11.79	29.36
Return on Investment (ROI) (PBT/Networth)		0.17	0.17	0.40
Debt Equity Ratio (Total Liability/Networth)		0.64	0.63	0.83
Current Ratio (Current Asset/Current Liability)		1.71	1.72	1.27

LOCAL AGENCY FURTHER INFORMATION

Notes: The registered office address has been changed from Panchshil Quadra 1, Magarpatta City Road, 238 Hadapsar, Pune – 411028, Maharashtra, India to present address w.e.f 01.07.2011

FINANCIAL RESULT

The year 2010, Net sales of the company stood at Rs. 8102.000 Millions as compared to Rs. 5923.000 millions in 2009, a growth of over 36%. The profit before tax in 2010 as percentage of net sales was at 7.6% as compared to 9% in 2009. The profit after tax as percentage of net sales was 6.1% in 2010 as compared to 7.6% in 2009

CONTINGENT LIABILITIES

a) Claims against the company not acknowledge as debts Rs. 3.865 millions (Previous Year Rs. 11.355 millions)

b) 1 Disputed Central excise duty/ Service tax Rs. 41.367 millions (Previous Year Rs. 36.767 millions)

2 Disputed Income Tax assessment dues Rs. 3.320 millions (Previous Year Rs. 24.013 millions)

3 Disputed sales tax assessment dues Rs. 6.000 millions (Previous Year RS NIL)

Timing and amount of cash flow will be determined upon settlement of respective cases.

FORM 8

Corporate identity number of the company	U34300PN1982PLC027224
Name of the company	BOSCH CHASSIS SYSTEMS INDIA LIMITED
Address of the registered office or of the principal place of business in India of the company	Panchshil, Quadar 1, Opposite Magarpatta City Road, 238/239, Hadsar, Pune-411028, Maharashtra, India Email : vijay.dighe@in.bosch.com
This form is for	Creation of Charge
Type of charge	Book Debts Movable Property (not being pledge) Floating Charge
Particular of charge holder	State Bank of India, Tara Chambers, Wakadewadi, Pune Mumbai Road, Pune – 411003, Maharashtra, India Email : aroradinesh10@gmail.com
Nature of instrument creating charge	Joint Deed of Hypothecation and Working Capital Consortium Agreement, both dated 23rd December, 2009 for Working Capital facilities aggregating Rs. 265.500 Millions, as per the sharing pattern mentioned therein.
Date of instrument Creating the charge	23.12.2009
Amount secured by the charge	Rs. 265.500 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest : @ 0.75% above the State Bank Advance Rate (SBAR) of the Bank i.e. 12.50 % p.a. with Monthly rests Terms of Repayment : As mentioned in the Working Capital Consortium Agreement and Sanction Letter Margin: R.M.25% Stock In Process 40% F.G.25% Book Debts (90 days)30% Extent and Operation of the charge: SBI and Citibank will have first pari passu charge on the current assets of the Company and second charge on plants and machinery. The operation of the Charge will be as per the agreed terms with SBI and Citibank and the borrower Company, whereas the State Bank will be the Consortium leader of the joint charge.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Current assets of the Company viz. Stocks of Raw Materials, Stocks in Process, Semi-Finished and Finished Goods, Stores and Spares, Bills Receivable and Book Debts All the tangible movable Plant and Machinery, vehicles, together with spares, tools, accessories and other movables of the Borrower situate at Village Bambhori, Taluka Dharangaon, District Jalgaon

FIXED ASSETS:

· Freehold Land

· Leasehold Land

· Building

· Leasehold Building

· Plant and Machinery

· Furniture

· 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. 51.98
UK Pound	1	Rs. 80.59
Euro	1	Rs. 69.12

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	8
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	8
--PROFITABILIRY	1~10	7
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	7
--CREDIT LINES	1~10	7
--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		65

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

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.