MIRA INFORM REPORT

Report Date :

17.10.2011

IDENTIFICATION DETAILS

Name :	BCL INDUSTRIES AND INFRASTRUCTURES LIMITED [w.e.f. 08.10.2008]
Formerly Known As :	BHATINDA CHEMICALS LIMITED
Registered Office :	Hazi Rattan Link Road, Post Box No.71, Bathinda – 151001, Punjab
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	03.02.1976
Com. Reg. No.:	16-003624
Capital Investment / Paid-up Capital :	Rs.61.500 Millions
CIN No.: [Company Identification No.]	L24231PB1976PLC003624
TAN No.: [Tax Deduction & Collection Account No.]	AMRB11036E
PAN No.: [Permanent Account No.]	AAACB5510B
Legal Form :	A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchange.
Line of Business :	Subject is engaged in the Manufacturing of Vanaspati Ghee, Vegetable Oils etc.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba [45]

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

Maximum Credit Limit :	USD 1680000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Profitability of the company appears to be low. However, trade relations are reported as fair. Business is active. Payments are reported to be usually correct. 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)

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

LOCATIONS

Registered / Head Office / Head Quarters / Factory :	Hazi Rattan Link Road, Post Box No.71, Bathinda – 151001, Punjab, India
Tel. No.:	91-164-2240163 / 2240443 / 2211628
Fax No.:	91-164-2240424 / 5003638
E-Mail :	Bcl2@connectzone.in bcl@mittalgroup.co.in bcl2@mittalgroup.co.in
Website :	http://www.connectzone.in http://www.mittalgroup.co.in
Regional Office :	201/6 Kaushaliya Park, Hauz Khas, Delhi – 110016, India
Tel. No.:	91-11-26961752, 41656386
Fax No.:	91-11-26511134
Branch Office 1 :	SCO 358-59, Sector-34, Chandigarh, Punjab, India
Tel. No.:	91-172-2667731
Fax No.:	91-172-2648138
Branch Office 2 :	Swarna Infrastructure Builders Private Limited, Narayani, 2^nd Floor, CD – 16, Salt Lake City, Sector – 1, Kolkata – 700064, West Bengal, India
Tel. No.:	91-33-23585342
Fax No.:	91-33-23585343

DIRECTORS

As on 14.08.2010

Name :

Mr. Rajinder Mittal

Designation :

Chairman and Managing Director

Address :

5-A, Civil Lines, Bathinda, Punjab, India

Date of Birth/Age :

30.04.1959

Date of Appointment :

01.04.1992

DIN :

00033082

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	L24231PB1976PLC003624	BCL INDUSTRIES AND INFRASTRUCTURES LIMITED	Managing director	1/4/1992	1/4/1992	-	Active	NO
2	U74899DL1993PLC055245	BCL REALCON LIMITED	Director	16/09/1993	16/09/1993	-	Active	NO
3	U70109DL1996PTC076874	CHAVANRISHI RESORTS PRIVATE LIMITED	Director	1/10/1997	1/10/1997	8/6/2011	Active	NO
4	L51900MH1981PLC025179	QPRO INFOTECH LIMITED	Director	24/09/2001	24/09/2001	-	Active	NO
5	U15143PB2000PLC023294	KISSAN FATS LIMITED	Managing director	21/01/2009	2/5/2002	-	Active	NO
6	U70101CH1996PTC018537	GEE CITY BUILDERS PRIVATE LIMITED	Director	1/11/2004	1/11/2004	-	Active	NO
7	U70101DL2005PTC133005	ANSAL MITTAL TOWNSHIP PRIVATE LIMITED	Director	15/02/2005	15/02/2005	-	Active	NO
8	U70100PB2005PLC028718	GANPATI TOWNSHIPS LIMITED	Director	24/11/2009	25/07/2005	-	Active	NO
9	U24241PB1997PLC020695	PIONEER INDUSTRIES LIMITED	Director	3/1/2011	29/09/2005	-	Active	NO
10	U91110MH1971NPL015233	THE SOLVENT EXTRACTORS ASSOCIATION OF INDIA	Director	22/09/2006	22/09/2006	-	Active	NO
11	U45200PB2004PLC027312	SHEESH MAHAL DEVELOPERS LIMITED	Director	7/12/2006	7/12/2006	-	Active	NO
12	U45203WB2007PTC112361	SVARNA INFRASTRUCTURE AND BUILDERS PRIVATE LIMITED	Director	2/1/2007	2/1/2007	-	Active	NO
13	U70101DL1995PTC070058	CREATIVE BUILDWELL PRIVATE LIMITED	Director	2/5/2007	2/5/2007	-	Active	NO
14	U74899DL1978NPL009493	INDIAN VANASPATI PRODUCERS ASSOCIATION	Director	17/09/2008	17/09/2008	-	Active	NO
15	U52392WB1999PLC090202	EDP SOFTWARE LIMITED	Director	13/12/2008	13/12/2008	-	Active	NO
16	U72900WB2009PTC133048	E-EDIT INFOTECH PRIVATE LIMITED	Director	23/02/2009	23/02/2009	1/7/2009	Active	NO
17	U51109WB1995PTC073461	NATHVAR TRACON PRIVATE LIMITED	Director	28/01/2010	28/01/2010	-	Active	NO
18	U70109CH2010PTC032509	GBM PROJECTS PRIVATE LIMITED	Director	15/10/2010	15/10/2010	-	Active	NO
19	U70101WB1993PTC057461	CRESCENT GRIHA NIRMAN PRIVATE LIMITED	Additional director	30/08/2011	30/08/2011	-	Active	NO

Name :

Mr. Sat Narain Goyal

Designation :

Whole-time Director

Address :

H. No. 17233, Aggarwal Colony, Bathinda, Punjab, India

Date of Birth/Age :

05.02.1961

Date of Appointment :

01.11.2004

DIN :

00050643

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	L24231PB1976PLC003624	BCL INDUSTRIES AND INFRASTRUCTURES LIMITED	Whole-time director	1/11/2009	1/11/2004	Active	NO
2	U45203WB2007PTC112361	SVARNA INFRASTRUCTURE AND BUILDERS PRIVATE LIMITED	Director	1/8/2007	1/8/2007	Active	NO
3	U72900WB2009PTC133048	E-EDIT INFOTECH PRIVATE LIMITED	Director	1/7/2009	1/7/2009	Active	NO

Name :

Mr. Baldev Raj Gupta

Designation :

Director

Address :

H. No.2697, Street No.2, Shakti Nagar, Bathinda, Punjab, India

Date of Birth/Age :

14.10.1951

Date of Appointment :

01.11.2004

DIN :

00033194

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	L24231PB1976PLC003624	BCL INDUSTRIES AND INFRASTRUCTURES LIMITED	Director	1/11/2004	1/11/2004	-	Active	NO
2	U74899DL1995PTC071720	MANOJ FINVEST PRIVATE LIMITED	Director	24/01/2007	24/01/2007	14/01/2008	Active	NO
3	U45203WB2007PTC112361	SVARNA INFRASTRUCTURE AND BUILDERS PRIVATE LIMITED	Director	1/8/2007	1/8/2007	-	Active	NO

Name :

Mr. Varinder Kumar Nayyar

Designation :

Director

Address :

11D, Sant Nagar, Civil Lines, Ludhiana, Punjab, India

Date of Birth/Age :

24.07.1956

Date of Appointment :

01.10.2002

DIN :

00992880

KEY EXECUTIVES

Name :	Mr. Anil Kumar
Designation :	Secretary
Date of Appointment :	11.05.2001
PAN :	ANCPK9681L

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.03.2010

	Category of Shareholders	No. of Shares	Percentage of Holding
A.	Promoters Category
1	Individuals / Hindu Undivided Family	2502815	40.70
2	Bodies Corporate	214850	3.49
	Sub Total	2717665	44.19
B	Non Promoters Holding
1	Institutional Investors
A	Financial Institutions / Banks	700	0.01
	Sub Total	700	0.01
2	Private Corporate Bodies	179454	2.92
	Proposed Allottees
a	Rollon Investments Private Limited	906750	14.74
b	Manoj Finvest Private Limited	909440	14.79
C	Sarva Priya Exports Private Limited	0	0.00
3	Indian Public	1435600	23.34
4	Any Other – NRI / OCBs	391	0.01
	GRAND TOTAL	6150000	100.00

As on 30.06.2011

Names of Allottees	No. of Shares Allotted
Swati Mittal	750000
Shweta Mittal	750000
Rollon Investment Private Limited, India	1100000
Sarva Priya Exports Private Limited, India	400000
Total	3000000

As on 14.08.2010

Equity Share Break Up Category	Percentage
Bodies corporate	32.44
Directors or relatives of Directors	44.19
Other top fifty shareholders	7.05
Others	16.32
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in the Manufacturing of Vanaspati Ghee, Vegetable Oils etc.

Products :

Products Description	ITC Code No.
Vanaspati Ghee and Refined Vegetable Oils	151620.09
Soyabean Solvent Extraction	230400.03
Rice Parboiled	100630.01

Brand Names :

HOMECOOK

PRODUCTION STATUS [As on 31.03.2010]

Particulars	Unit	Installed Capacity	Actual Production
Vanaspati [Ghee]	M.Tons	30000	12327.874
Refinery [Oils]	M.Tons	15000	22585.507
Solvent Plant [Oils] Solvent Plant [Extraction]	M.Tons M.Tons	105000	6159.770 42596.821
Expellers [Oils] Expellers [Cake]	M.Tons M.Tons	30000	6292.300 16938.000
Rice Sheller [Rice]	M.Tons	30000	12512.296

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel West, Mumbai - 400013, Maharashtra, India
• Punjab National Bank
• Citi Bank
• State Bank of India
• ICICI Bank Limited

Facilities :

Secured Loan [Rs. in million]	31.03.2010	31.03.2009
Punjab National Bank, Bathinda On Cash Credit Account: (Exclusive charge of hypothecation of all the stocks of raw materials, stock in process, semi finished goods, finished goods, consumable stores, present or future book debts and other current assets of the company wheresoever situated whether present or Future and first exclusive charge on all the fixed assets of the company situated at Has Rattan Link Road, Bathinda).	497.357	384.573
Punjab National Bank Packing Credit	28.500	0.000
Citi Bank Buyer's Credit	0.000	36.313
State Bank of India Term lean :- (Secured by hypothecation of Land at Gurgaon)	0.000	40.425
HDFC Bank Limited Term Loan :- (Secured by hypothecation of Commercial Building at Gurgaon )	10.089	8.473
Term Loan (LAP) :- Term Lean :- (Secured by hypothecation of vehicle financed by HDFC Bank Limited)	30.406 10.575	0.000 4.099
Tata Capital Limited Term Loan (Secured by hypothecation of vehicle financed by Tata Capita! Limited	0.610	0.964
Tata Motors Finance Limited Term Loan (Secured by hypothecation of vehicles financed by Tata Motor Finance Limited)	1.535	2.268
ICICI Bank Limited Term Loan :- (Secured by hypothecation of vehicles financed by I CI CI Bank Limited]	0.000	0.077
Total	579.072	477.192

Banking Relations :	--
Financial Institution :	Tata Motors Finance Limited
Auditors :
Name :	P. Mittal and Company Chartered Accountants
Address :	Mittal Street, Amrik Singh Road, Bathinda – 151005,Punjab, India
PAN :	AHUPM2878B
Holding Company :	Kissan Fats Limited

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
20,000,000	Equity Shares	Rs.10/- each	Rs.200.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5,400,000	Equity Shares issued for cash	Rs.10/- each	Rs.54.000 millions
750,000	Equity Shares allotted as fully paid bonus share	Rs.10/- each	Rs. 7.500 millions
	Total		Rs.61.500 millions

As on After 14.08.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
20,000,000	Equity Shares	Rs.10/- each	Rs.200.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
9,150,000	Equity Shares issued for cash	Rs.10/- each	Rs.91.500 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

Particulars		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		61.500	61.500	61.500
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		359.115	260.805	171.310
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		420.615	322.305	232.810
LOAN FUNDS
1] Secured Loans		579.072	477.192	410.117
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		579.072	477.192	410.117
DEFERRED TAX LIABILITIES		4.644	4.220	6.550
Partly Paid up Convertible Warrants		0.000	69.250	0.000
TOTAL		1004.331	872.967	649.477
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		179.171	161.809	164.081
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		150.192	180.523	75.989
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	783.658	443.360	535.534
	Sundry Debtors	208.114	382.576	154.417
	Cash & Bank Balances	41.928	54.201	21.011
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	29.914	69.542	64.434
Total Current Assets		1063.614	949.679	775.396
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	233.729	249.306	208.978
	Other Current Liabilities	149.420	150.765	145.366
	Provisions	5.497	18.973	11.663
Total Current Liabilities		388.646	419.044	366.007
Net Current Assets		674.968	530.635	409.389
MISCELLANEOUS EXPENSES		0.000	0.000	0.018
TOTAL		1004.331	872.967	649.477

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Sales / Operating Income	3042.012	4727.058	4087.820
		Other Income	9.696	8.480	7.898
		TOTAL (A)	3051.708	4735.538	4095.718
Less	EXPENSES
		Raw Material Consumed	2575.162	4022.854	3490.279
		Packing material Consumed	100.884	140.892	124.238
		Manufacturing Expenses	186.484	229.662	214.466
		Administrative Expenses	26.304	30.023	28.915
		Selling Expenses	144.010	182.931	161.388
		Excise Duty	0.000	0.000	0.534
		Increase / [decrease] in stocks	[60.275]	[32.370]	4.667
		TOTAL (B)	2972.569	4573.992	4024.487
	PROFIT/LOSS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		79.139	161.546	71.231
Less	FINANCIAL EXPENSES (D)		31.637	34.258	18.830
	PROFIT/LOSS BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		47.502	127.288	52.401
Less/ Add	DEPRECIATION/ AMORTISATION (F)		20.377	21.191	17.410
	PROFIT / LOSS BEFORE TAX (E-F) (G)		27.125	106.097	34.991
Less	TAX (H)		5.000	18.500	11.200
	PROFIT / LOSS AFTER TAX (G-H) (I)		22.125	87.597	23.791
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		1.317	1.673	0.284
	Add / Less :
		Income tax of earlier years	[0.223]	[0.266]	[2.375]
		Previous year adjustment	[0.167]	[0.017]	[0.038]
		Differed Tax	[0.424]	2.330	0.011
Less	APPROPRIATIONS
		Transfer to General Reserve	0.000	90.000	20.000
	BALANCE CARRIED TO THE B/S		22.628	1.317	1.673
	IMPORTS
		Raw Materials	414.161	582.638	88.600
	TOTAL IMPORTS		414.161	582.638	88.600
	Earnings Per Share (Rs.)		3.60	14.24	3.89

QUARTERLY RESULTS

PARTICULARS	30.06.2010	30.09.2010	31.12.2010	31.03.2011	30.06.2011
Type	1^st Quarter	2^nd Quarter	3^rd Quarter	4^th Quarter	5^th Quarter
Net Sales	856.280	1158.730	1257.840	1520.730	1288.600
Total Expenditure	831.520	1138.800	1235.740	1484.110	1253.370
PBIDT (Excl OI)	24.760	19.930	22.100	36.620	35.230
Other Income	1.950	1.730	1.880	5.490	1.530
Operating Profit	26.710	21.660	23.980	42.110	36.760
Interest	12.280	7.080	6.750	0.000	19.270
Exceptional Items	0.000	0.000	0.000	0.000	0.000
PBDT	14.430	14.580	17.230	42.110	17.490
Depreciation	5.420	5.470	5.910	4.020	5.850
Profit Before Tax	9.010	9.110	11.320	38.090	11.640
Tax	1.500	1.500	2.000	8.500	1.500
Provisions and contingencies	0.000	0.000	0.000	0.000	0.000
Profit After Tax	7.520	7.610	9.320	29.590	10.140
Extraordinary Items	0.000	0.000	0.000	0.000	0.000
Prior Period Expenses	0.000	0.000	0.000	0.000	0.000
Other Adjustments	0.000	0.000	0.000	0.000	0.000
Net Profit	7.520	7.610	9.320	29.590	10.140

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	0.72	1.85	0.58
Net Profit Margin (PBT/Sales)	(%)	0.89	2.24	0.85
Return on Total Assets (PBT/Total Assets}	(%)	2.18	9.54	3.72
Return on Investment (ROI) (PBT/Networth)		0.06	0.33	0.15
Debt Equity Ratio (Total Liability/Networth)		2.30	2.78	3.33
Current Ratio (Current Asset/Current Liability)		2.74	2.27	2.12

LOCAL AGENCY FURTHER INFORMATION

PERFORMANCE REVIEW

During the year, the company's operations came under various pressures due to increase in the interest rates, rising in input costs/commodity prices, credit crunch, fluctuation in crude oil prices, fluctuation in exchange rate, hard competition due lo excessive import of finished goods and falling demand due to recession. Despite these factors, the company adjusted to this situation and has been able to achieve a turnover of Rs. 3042.000 millions and earned profit after lax is of Rs. 22.125 millions, by managing efficiently and effectively with the resources at its disposal.

ACHIEVMENT

the company has been ranked 338 among top 500 large Industries of India, by a survey conducted by Industry 20, a premier business magazine which identifies the nation's fastest growing manufacturing Industries. The company for the first time has been ranked 401 among top 1000 companies in India, by Business Standard Magazine, in February, 2010. The company also got B. K. Goenka Award consecutively for third year, being the "SECOND HIGHEST PRODUCER OF REFINED RICE BRAN OIL" in the country.

D D MITTAL TOWERS

During the year, the Company has acquired 4.02 Acres land for the development of Apartment/SCO/Booth in the project popularly known as D D Mittal Towers ot Multania Road, Bathinda. The construction of the same will start soon.

LISTING OF EQUITY SHARES

The equity shares of the company continue to be listed on Ludhiana (Regional), Delhi, Mumbai Stock Exchanges and listing fee for the year 2010-2011 have been paid to each of the said Stock Exchanges. Application for delisting of Equity Shares made to The Calcutta Stock Exchange Association Limited is under process.

MANAGEMENT DISCUSSION AND ANALYSIS

INDUSTRY STRUCTURE AND DEVELOPMENTS

The company is engaged in the business of edible oils as well as real estate business as a Developer and Colonizer and developed various commercial and residential sites. The edible oils business includes refined oil in the name of Homecook, Vanaspati Do Khajoor and Mustard as Murli. Homecook brand offers o wide range of refined oils, which includes soyabean oil, sunflower, cottonseed oil and rice bran oil. Different crude edible oils are imported like palm oil etc. every year for blending and refining with other edible oil based products.

During the year, the company has modernization of its existing plant and machinery. The company installed a new Rice Shelter to enhance the capacity of rice shelling with modern technology. A new high-tech sortex plant has been installed to get the premium quality rice in rice section. The Deodorizing system installed by the company is working efficiently and with the help of which they are able to achieve excellent quality of Rice Bran refined oil. In addition, they are upgrading their parboiled unit to get better quality of parboiled rice with less broken percentage.

History :

Subject is one of the largest agro-based industries of North India. The company is one of the leading vertically integrated plants in the country. The company is engaged in the business of edible oils includes refined oil in the name of Homecook, Vanaspati, Do Khajoor and Mustard as Murli. They are having their manufacturing unit located at Bhatinda in Punjab. Homecook brand offers a wide range of refined oils, which includes soyabean oil, sunflower, cottonseed oil and rice bran oil. Different crude edible oils are imported like palm oil etc. every year for blending and refining with other edible oil based products. Subject was incorporated on February 3, 1976 as a private limited company with the name Bhatinda Chemicals. In September 3, 1992, the company was converted into a public limited company. During the year 1991-92, the company installed a new solvent extraction plant of 150/200 TPD capacity. They also installed a Vanaspati plant of 25 TPD which commenced commercial production during the year. During the year 1992-93, the company increased the production capacity of Vanaspati by 7,500 MT to 15,000 TPD. During the year 2001-02, the company increased the production capacity of Vanaspati by 15,000 MT to 30,000 MT. In June 30, 2007, the company received Shri B K Goenka-SEA Award for Refined Rice Bran Oil for the year 2006-07 at the 10th National Seminar on Rice Bran Oil at Chennai. During the year 2007-08, the company set up a Deodorizing system to achieve excellent quality of Rice Bran refined oil. In August 3, 2008, they received Shri B K Goenka-SEA Award for Refined Rice Bran Oil for the year 2007-08 at the 11th National Seminar on Rice Bran Oil at Kolkata. During the year 2008-09, the company had done the modernization of their existing Plant and Machinery. They upgraded their parboiled unit to get better quality of parboiled rice with less broken percentage. In November 2009, the company changed their name from Bhatinda Chemicals Limited to BCL Industries and Infrastructures Limited The project of cogeneration system i.e. steam boiler and turbine is under process and on completion of the same the company will generate their own power/electricity to run the plant uninterrupted and smoothly.

Bankers Charges Report as per Registry

Corporate identity number of the company	L24231PB1976PLC003624
Name of the company	BCL INDUSTRIES AND INFRASTRUCTURES LIMITED
Address of the registered office or of the principal place of business in India of the company	Hazi Rattan Link Road Post Box No 71, Bhatinda - 151001, Punjab, India
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	90172216
Type of charge	Immovable Property
Particular of charge holder	HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel W, Mumbai - 400013, Maharashtra, India
Nature of instrument creating charge	Memorandum recording past transactions of creation of Mortgage by Delivery of Title Deeds.
Date of instrument Creating the charge	09.09.2011
Amount secured by the charge	Rs.297.500 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest - Interest at the rate as may be communicated by the Bank from time to time. Terms of Repayment - Working Capital facility shall be payable on Demand Term Loan facility shall be repayable in suitable installments. Margin - As may be stipulated by the Bank from time to time. Extent and Operation of the charge - The Company accorded and gave oral consent to Bank to continue to hold and retain the title deeds (by way of Constructive delivery) in respect of its immovable properties as security for repayment of Rs.297.500 millions granted by bank to BCL Industries and Infrastructures Limited and R. K Exports ("the borrower") of Rs.97.500 millions and Rs.200.000 millions respectively, together with principal, interest, liquidated damages, costs, charges and expenses.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Plot No. 67, Sector - 32, Gurgaon (Haryana).
Date of instrument modifying the charge	12.10.2009
Particulars of the present modification	The charge shall now stand increased from Rs.247.500 millions to Rs.297.500 millions, in favour the Bank against the equitable mortgage of immovable property of the Company situated at Gurgaon (Haryana).

FIXED ASSETS :

• Land
• Building
• Plant and Machinery
• Furniture and Fixtures
• Computer
• Office Equipments
• Gas Cylinder
• 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.49.06
UK Pound	1	Rs.77.41
Euro	1	Rs.67.72

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	5
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--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	NO
--LISTED	YES/NO	YES
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		45

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.