MIRA INFORM REPORT

Report Date :

17.10.2011

IDENTIFICATION DETAILS

Name :	IMPEX METAL AND FERRO ALLOYS LIMITED
Formerly Known As :	IMPEX METAL AND FERRO ALLOYS PRIVATE LIMITED
Registered Office :	35, Chittaranjan Avenue, Kolkata-700012, West Bengal
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	31.05.1991
Com. Reg. No.:	21-051901
Capital Investment / Paid-up Capital :	Rs. 33.890 Millions
CIN No.: [Company Identification No.]	U27101WB1991PLC051901
TAN No.: [Tax Deduction & Collection Account No.]	CALI01081D
Legal Form :	A Closely Held Public Limited Liability Company.
Line of Business :	Dealer of all Metal and Ferro Alloys
No. of Employees :	29 (Office-29) (Approximately)

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 1200000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory 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 :	35, Chittaranjan Avenue, 4^th Floor, Kolkata-700012, West Bengal, India
Tel. No.:	91-33-2256143
Fax No.:	91-33-22119805
E-Mail :	enquiry@ankitmetal.com imfa@vsnl.com
Website :	http://www.impexgroup.net
Factory :	Kulti Branch, Budge Budge Trunk Road, PS Makeshtala, South 24 Parganas
Godown:	v 1165, Main Meerat Road, Ghajiabad – 201003 Uttar Pradesh v Area – 20,000 Sq. ft v AMBEYMAHICH, Mandi Govindgarh – 147301, Punjab v Area – 15000 Sq. ft v EE/14 B NIT, Faridabad – 121001, Haryana v Area – 18000 Sq. ft v Ring Road, No. 2, Raipur – 492001, Chhatisgarh v Area – 16000 Sq. ft
Branches :	All over India (8 Branches)

DIRECTORS

AS ON 30.09.2010

Name :	Mr. Suresh Kumar Patni
Designation :	Director
Address :	15, Burduan Road, Kolkata-700027, West Bengal, India
Date of Birth/Age :	12.08.1960
Date of Appointment :	31.05.1991
DIN No.:	00032674

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	U27101WB1991PLC051901	Impex Metal and Ferro Alloys Limited	Managing director	01-04-09	31-05-91	-	Active	NO
2	L27101WB1995PLC071996	Impex Ferro Tech Limited	Managing director	28-03-11	07-06-95	-	Active	NO
3	U29130WB1996PLC081962	Vsn Agro Products Limited	Director	07-11-96	07-11-96	-	Active	NO
4	U51109WB1999PLC089804	Impex Industries Limited	Director	19-07-99	19-07-99	-	Active	NO
5	L27104WB2000PLC091629	Rohit Ferro-Tech Limited	Director	27-08-07	07-04-00	-	Active	NO
6	U51109WB1995PTC068360	Invesco Finance Private Limited	Director	04-08-00	04-08-00	-	Active	NO
7	U45201RJ1998PTC015280	Shubham Complex Private Limited	Director	31-08-01	31-08-01	29-06-11	Active	NO
8	U65993WB1996PTC078986	Suanvi Trading And Investment Company Private Limited	Director	18-05-02	18-05-02	-	Active	NO
9	L27101WB2002PLC094979	Ankit Metal and Power Limited	Director	07-08-02	07-08-02	-	Active	NO
10	U74210WB1996PTC078292	Poddar Mech Tech Services Private Limited	Director	04-08-03	04-08-03	-	Active	NO
11	U74999MH1961NPL012060	Indian Ferro Alloys Producers Association	Director	19-09-03	19-09-03	-	Dormant	NO
12	U27109WB2004PLC097841	Sarita Steel and Power Limited	Director	13-02-04	13-02-04	-	Active	NO
13	U45209WB1995PTC068731	Vasupujya Enterprises Private Limited	Director	01-12-04	01-12-04	-	Active	NO
14	U40102WB2008PLC131190	Skp Power Ventures Limited	Director	11-12-08	11-12-08	-	Active	NO
15	U51109WB1995PTC069879	Marble Arch Properties Private Limited	Director	30-09-09	31-03-09	30-06-11	Active	NO
16	U51109WB1995PTC075556	Vng Mercantiles Private Limited	Director	30-09-10	18-01-10	-	Active	NO
17	U51909WB1995PTC067945	Nucore Exports Private Limited	Director	30-09-10	05-05-10	-	Active	NO
18	U51909WB1995PTC073576	Arthodock Vinimay Private Limited	Director	25-09-10	05-08-10	-	Active	NO
19	U62200WB2010PLC153355	Skp Aviation Services Limited	Director	23-09-10	23-09-10	-	Active	NO
20	U67120WB2010PTC156034	Skp Stock Broking Private Limited	Director	21-12-10	21-12-10	-	Active	NO
21	U67190WB2011PTC158814	Skp Derivatives And Commodities Private Limited	Director	11-02-11	11-02-11	-	Active	NO
22	U70109WB2011PTC159505	Skp Infrarealty Private Limited	Director	21-02-11	21-02-11	-	Active	NO

Name :	Mr. Ankit Patni
Designation :	Director
Address :	15, Burduan Road, Kolkata-700027, West Bengal, India
Date of Birth/Age :	13.01.1985
Date of Appointment :	05.01.2007
Election ID No.:	AJWPP29920M
DIN No.:	00034907

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	L27101WB2002PLC094979	Ankit Metal and Power Limited	Managing director	03-07-11	08-08-03	-	Active	NO
2	U45209WB1995PTC068731	Vasupujya Enterprises Private Limited	Director	01-12-04	01-12-04	-	Active	NO
3	U51909WB1995PTC073417	Divine Trading Company Private Limited	Director	16-02-05	16-02-05	30-06-11	Active	NO
4	U70101WB1991PTC051200	Nutech Multimax Private Limited	Director	28-07-05	28-07-05	29-06-11	Active	NO
5	U70101WB1991PTC050921	Greetamax Estates Private Limited	Director	30-07-05	30-07-05	01-07-11	Active	NO
6	U70101WB1991PTC050914	Pioneer Multimax Private Limited	Director	30-07-05	30-07-05	02-07-11	Active	NO
7	L27104WB2000PLC091629	Rohit Ferro-Tech Limited	Director	28-09-07	30-10-06	-	Active	NO
8	U27101WB1991PLC051901	Impex Metal and Ferro Alloys Limited	Director	29-09-07	05-01-07	-	Active	NO
9	U51420WB1996PTC080960	Sbm Steels Private Limited	Director	29-09-07	29-01-07	01-07-11	Active	NO
10	U62200WB2010PLC153355	Skp Aviation Services Limited	Director	23-09-10	23-09-10	-	Active	NO
11	U24241WB1996PTC077687	Whitestone Suppliers Private Limited	Additional director	16-12-10	16-12-10	-	Active	NO
12	U67190WB1995PTC073603	Shreyansh Leafin Private Limited	Additional director	30-12-10	30-12-10	-	Active	NO
13	U27109WB2004PLC097841	Sarita Steel and Power Limited	Director	30-09-11	02-02-11	-	Active	NO
14	U51109WB1995PTC075556	Vng Mercantiles Private Limited	Additional director	07-03-11	07-03-11	-	Active	NO
15	U67120WB2010PTC156034	Skp Stock Broking Private Limited	Director	30-09-11	10-03-11	-	Active	NO
16	U51109WB1995PTC069879	Marble Arch Properties Private Limited	Additional director	14-03-11	14-03-11	04-07-11	Active	NO
17	U67190WB2011PTC158814	Skp Derivatives And Commodities Private Limited	Director	30-09-11	15-03-11	-	Active	NO
18	U51909WB2010PTC144736	Binapani Tradelink Private Limited	Additional director	15-03-11	15-03-11	29-06-11	Active	NO
19	U52390WB2010PTC142089	Paropkar Merchants Private Limited	Director	30-09-11	17-03-11	-	Active	NO
20	U70109WB2011PTC159505	Skp Infrarealty Private Limited	Director	30-09-11	24-03-11	-	Active	NO
21	L27101WB1995PLC071996	Impex Ferro Tech Limited	Director	16-09-11	28-03-11	-	Active	NO
22	U40102WB2008PLC131190	Skp Power Ventures Limited	Director	30-09-11	27-06-11	-	Active	NO
23	U51109WB1995PTC068360	Invesco Finance Private Limited	Director	30-09-11	28-06-11	-	Active	NO
24	U52390WB2010PTC142091	Versatile Suppliers Private Limited	Director	30-09-11	15-07-11	-	Active	NO

Name :	Mr. Rohit Patni
Designation :	Directors
Address :	15, Burduan Road, Kolkata-700027, West Bengal, India
Date of Birth/Age :	11^TH January
Date of Appointment :	31.03.2007
Election ID No.:	AIQPP6728E
DIN No.:	00034876

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	U51909WB1995PTC073417	Divine Trading Company Private Limited	Director	16-02-05	16-02-05	-	Active	NO
2	U70101WB1991PTC051200	Nutech Multimax Private Limited	Director	28-07-05	28-07-05	01-07-11	Active	NO
3	U70101WB1991PTC050921	Greetamax Estates Private Limited	Director	30-07-05	30-07-05	04-07-11	Active	NO
4	U70101WB1991PTC050914	Pioneer Multimax Private Limited	Director	30-07-05	30-07-05	05-07-11	Active	NO
5	U51420WB1996PTC080960	Sbm Steels Private Limited	Director	29-09-07	29-01-07	05-07-11	Active	NO
6	U27101WB1991PLC051901	Impex Metal and Ferro Alloys Limited	Director	29-09-07	31-03-07	-	Active	NO
7	L27104WB2000PLC091629	Rohit Ferro-Tech Limited	Director	28-09-07	27-08-07	-	Active	NO
8	L27101WB2002PLC094979	Ankit Metal and Power Limited	Director	24-09-07	27-08-07	-	Active	NO
9	U74999MH1961NPL012060	Indian Ferro Alloys Producers Association	Director	28-09-07	28-09-07	-	Dormant	NO
10	U45209WB1995PTC068731	Vasupujya Enterprises Private Limited	Director	30-09-08	31-03-08	-	Active	NO
11	U40102WB2008PLC131190	Skp Power Ventures Limited	Director	11-12-08	11-12-08	-	Active	NO
12	U51109WB1995PTC075556	Vng Mercantiles Private Limited	Director	30-09-10	18-01-10	-	Active	NO
13	U51909WB1995PTC067945	Nucore Exports Private Limited	Director	30-09-10	05-05-10	-	Active	NO
14	U51909WB1995PTC073576	Arthodock Vinimay Private Limited	Director	25-09-10	05-08-10	-	Active	NO
15	U62200WB2010PLC153355	Skp Aviation Services Limited	Director	23-09-10	23-09-10	-	Active	NO
16	U24241WB1996PTC077687	Whitestone Suppliers Private Limited	Additional director	16-12-10	16-12-10	-	Active	NO
17	U67120WB2010PTC156034	Skp Stock Broking Private Limited	Director	21-12-10	21-12-10	-	Active	NO
18	U67190WB1995PTC073603	Shreyansh Leafin Private Limited	Additional director	30-12-10	30-12-10	-	Active	NO
19	U27109WB2004PLC097841	Sarita Steel and Power Limited	Director	30-09-11	02-02-11	-	Active	NO
20	U67190WB2011PTC158814	Skp Derivatives And Commodities Private Limited	Director	11-02-11	11-02-11	-	Active	NO
21	U70109WB2011PTC159505	Skp Infrarealty Private Limited	Director	21-02-11	21-02-11	-	Active	NO
22	U51109WB1995PTC069879	Marble Arch Properties Private Limited	Additional director	14-03-11	14-03-11	04-07-11	Active	NO
23	U51909WB2010PTC144714	Laxmiwan Marketing Private Limited	Additional director	16-03-11	16-03-11	29-06-11	Active	NO
24	U52390WB2010PTC142091	Versatile Suppliers Private Limited	Director	30-09-11	18-03-11	-	Active	NO
25	L27101WB1995PLC071996	Impex Ferro Tech Limited	Director	16-09-11	28-03-11	-	Active	NO
26	U65993WB1996PTC078986	Suanvi Trading and Investment Company Private Limited	Director	30-09-11	27-06-11	-	Active	NO
27	U74210WB1996PTC078292	Poddar Mech Tech Services Private Limited	Director	30-09-11	29-06-11	-	Active	NO
28	U52390WB2010PTC142089	Paropkar Merchants Private Limited	Director	30-09-11	14-07-11	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2010

Names of Shareholders	No. of Shares
Suresh Kumar Patni	97340
Premlata Patni	1020
Sarita Patni	9640
Ankit Patni	61400
Vasupuiya Enterprises Private Limited, India	120000
Invesco Finance (Private) Limited	7000
Poddar Mech Tech Services Private Limited, India	36500
Nucore Exports Private Limited, India	6000
Total	338900

AS ON 26.09.2011

Names of Allottees	No. of Shares
Arthodock Vinimay Private Limited, India	21500
Shreyansh Leafin Private Limited, India	68000
Whitestone Suppliers Private Limited, India	36100
Total	125600

AS ON 30.09.2010

Category	Percentage
Bodies corporate	50.01
Directors or relatives of Directors	49.99
Total	100.00

BUSINESS DETAILS

Line of Business :

Dealer of all Metal and Ferro Alloys

Products :

ITC CODE	PRODUCT
7202	Ferro Alloys

GENERAL INFORMATION

No. of Employees :

29 (Office-29) (Approximately)

Bankers :

· Bank of Baroda, C. R. Avenue (South) Branch, 33, C. R. Avenue Branch, Kolkata-700012, West Bengal, India

Facilities :

Secured Loan	Rs. In Millions 31.03.2010	Rs. In Millions 31.03.2009
Personally Guaranteed by the Promoter Director
Term Loan
From Bank	27.158	0.000
Working Capital Loans	0	0
From Banks	0	0
Cash Credit	149.952	164.926
Export Packing Credit	170.696	15.652
Buyers Credit	203.383	40.679
Total	551.189	221.257

Notes:

Term Loan from a Bank is secured by way of:-

-First pari passu charge on the entire Fixed Assets of the Ferro Alloys Division of the Company.

Additionally,

- Second pari passu charge over the Current Assets of the Ferro Alloys Division of the Company.

Working Capital Loans from Banks are secured by way of :-

- First charge on pari passu basis by hypothecation of inventories, book debs and other Current Assets of the Company.

- First pari passu charge on all Fixed Assets of the Company.

Additionally,

-Working Capital Loans from Bank of Baroda are collaterally secured by equitable mortgage on two immovable properties owned by the Promoter group and by corporate guarantee of two Companies in the Promoter group.

-Working Capital Loans from State Bank of India are collaterally secured by lien on Fixed Deposit with Bank for Rs 53.100 millions and equitable mortgage on two immovable properties owned by the promoters.

Term Loans repayable within one year - Rs. Nil (P.Y. - Nil)

Unsecured Loan	Rs. In Millions 31.03.2010	Rs. In Millions 31.03.2009
From Bodies Corporate	70.493	14.218
Total	70.493	14.218

Banking Relations :	--
Auditors :
Name :	S Jaykishan Chartered Accountant
Address :	12, HO Chi Minh Sarani, Kolkata-700071, West Bengal, India
Tel. No.:	91-33-40035801
Fax No.:	91-33-40035832
E-Mail :	info@sjaykishan.com
Joint Ventures :	· Impex Metal (Singapore) Pte Limited
Associates/Subsidiaries :	· Vasupujya Enterprises (Private) Limited · Rohit Ferrotech Limited · lnvesco Finance (Private) Limited · Greetamax Estates (Private) Limited · Nutech Multimax (Private) Limited · Pioneer Multimax (Private) Limited · lmpex Ferro Tech Limited · Ankit Metal and Power Limited · Panchmukhi Agrochem (Private) Limited · Sarita Steel Tech (Private) Limited · Suanvi Trading and Investment Company (Private) Limited · Poddar Mech Tech Services Private Limited · SBM Steels (Private) Limited · lmpex Metal (Singapore) Pte. Limited · SKP Overseas Pte. Limited · SKP Power Ventures Limited · Marble Arch Properties (Private) Limited · VNG Mercantile (Private) Limited

CAPITAL STRUCTURE

AS ON 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
700000	Equity Shares	Rs.100/- each	Rs. 70.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
338900	Equity Shares	Rs.100/- each	Rs. 33.890 Millions

AS ON 30.09.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
700000	Equity Shares	Rs.100/- each	Rs. 70.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
640500	Equity Shares	Rs.100/- each	Rs. 64.050 Millions

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		33.890	29.140	24.140
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		275.978	198.341	137.335
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		309.868	227.481	161.475
LOAN FUNDS
1] Secured Loans		551.189	221.257	282.972
2] Unsecured Loans		70.493	14.218	22.412
TOTAL BORROWING		621.682	235.475	305.384
DEFERRED TAX LIABILITIES		1.225	0.861	0.646
TOTAL		932.775	463.817	467.505
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		74.272	35.842	34.278
Capital work-in-progress		38.715	0.000	0.000
INVESTMENT		0.657	2.472	2.216
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	451.406	229.939	406.781
	Sundry Debtors	581.839	149.357	130.566
	Cash & Bank Balances	222.753	119.454	30.549
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	171.820	165.925	50.562
Total Current Assets		1427.818	664.675	618.458
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	264.604	62.237	164.978
	Other Current Liabilities	326.053	167.235	1.176
	Provisions	18.030	9.700	21.293
Total Current Liabilities		608.687	239.172	187.447
Net Current Assets		819.131	425.503	431.011
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		932.775	463.817	467.505

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Sales / Income from Operations	4747.158	4771.145	3530.137
		Foreign Exchange Fluctuation Gain	16.360	0.000	0.000
		Other Income	32.313	27.718	14.195
		TOTAL (A)	4795.831	4798.863	3544.332
Less	EXPENSES
		Purchases (Including Expenses)	4754.855	4336.684	3540.092
		Administrative Expenses	60.471	60.163	54.956
		Selling Expenses	71.209	96.130	113.473
		Foreign Exchange Fluctuation Loss	0.000	36.503	0.000
		Increase / (Decreased) in Stock	(221.467)	176.842	(261.834)
		TOTAL (B)	4665.068	4706.322	3446.687
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		130.763	92.541	97.645
Less	FINANCIAL EXPENSES (D)		73.884	63.088	41.511
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		56.879	29.453	56.134
Less/ Add	DEPRECIATION/ AMORTISATION (F)		3.665	3.668	1.602
	PROFIT BEFORE TAX (E-F) (G)		53.214	25.785	54.532
Less	TAX (H)		(18.394)	(9.915)	(20.696)
	PROFIT AFTER TAX (G-H) (I)		34.820	15.870	33.836
	Income Tax Adjustments For Earlier Years		0.067	0.135	(2.037)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		85.966	69.961	38.162
	BALANCE CARRIED TO THE B/S		120.853	85.966	69.961
	EXPORT VALUE		791.320	1373.165	1003.682
	IMPORTS
		Traded Goods	745.407	616.015	262.300
	TOTAL IMPORTS		745.407	616.015	262.300
	Earnings Per Share (Rs.)		119.67	64.83	180.08

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	0.73	0.33	0.95
Net Profit Margin (PBT/Sales)	(%)	1.12	0.54	1.54
Return on Total Assets (PBT/Total Assets}	(%)	3.54	3.68	8.35
Return on Investment (ROI) (PBT/Networth)		0.17	0.11	0.34
Debt Equity Ratio (Total Liability/Networth)		3.97	2.09	3.06
Current Ratio (Current Asset/Current Liability)		2.35	2.78	3.30

LOCAL AGENCY FURTHER INFORMATION

OPERATIONAL REVIEW AND FUTURE OUTLOOK

During the year, the total revenue of the Company has increased by 9% approx to Rs. 5010.000 millions in comparison to Rs. 4620.000 millions in the previous year, whereas as net profit after tax has almost doubled from Rs. 16.000 millions to Rs. 34.800 millions due to recovery of the economy as a whole. The directors are encouraged by the company's performance in the current year and very optimist about the future and expect that the value realization will be better in the future years and company will manage to achieve the handsome profit in coming years.

FORM 8

Corporate identity number of the company	U27101WB1991PLC051901
Name of the company	IMPEX METAL AND FERRO ALLOYS LIMITED
Address of the registered office or of the principal place of business in India of the company	35, Chittaranjan Avenue, 4^th Floor, Kolkata-700012, West Bengal, India
This form is for	Modification of charge
Type of charge	Immovable property Others
Particular of charge holder	Bank of Baroda, C. R. Avenue (South) Branch, 33, C. R. Avenue Branch, Kolkata-700012, West Bengal, India
Nature of instrument creating charge	Mortgage By Deposit of Title Deeds by way of Extension Mortgage By Deposit of Title Deeds by way of Extension
Date of instrument Creating the charge	10.08.2011
Amount secured by the charge	Rs. 3030.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest Interest and other charges shall be paid as per sanction terms of the respective banks, however the same is subject to change from time to time. Terms of repayment The working capital limit (Rs. 1600.000 millions by Bank of Baroda and Rs. 690.000 millions by State Bank of India) shall be repayable on demand. whereas the term loan of Rs. 740.000 millions sanctioned by BOB shall be repaid in 24 quarterly installments - 1st to 23rd installment of Rs. 30.800 millions each and 24th installment of Rs. 31.600 millions starting from June, 2013. Margin The borrower shall maintain appropriate margin as stipulated in the sanction terms, however the same is subject to change from time to time. Extent and operation of the charge The charged security shall be a continuing security and by way of pari passu first charge. The charged assets property be kept at the Company risk and expense in good condition and fully insured against loss or damage by fire, lighting or explosion or theft and also against loss or damage by riot and civil commotion etc. as may be required by the Bank in the joint names of the Bank and the Company. Other The Company hereby declares that all the charged property now existing are absolute property of and at the sole disposal of the Company and free from any prior charge or encumbrance and undertakes that all future property shall likewise be the unencumbered and absolute and disposable property of the Company. Other terms and conditions are as per terms and conditions of above referred Memorandum and Sanction Letter of the bank.
Short particulars of the property charged (Including location of the property)	The Co. had deposited title deeds to create equitable mortgage in respect of a) All that Room No. 21C on the fourth floor of premises no. 35, Chittaranjan Avenue, Kolkata containing an area of 835 Sq. Ft. be the same a little more or less together with undivided proportionate share in land and other common facilities and amenities. b) All that divided and demarcated office space admeasuring an area of 79.50 Sq. Meters together with a toilet admeasuring 1.50 Sq. Meters ( equivalent to 850 Sq. Ft.) built up area on the 1st Floor of premises no. 33, Chittaranjan Avenue, Kolkata -700012 together with undivided proportionate share in land and other common facilities and amenities. c) All that piece and parcel of land measuring about 8 Cottahs 8 Chittaks comprised in Dag No. 387 under Khatian No. 669, Mouza Mahestala, J.L. No. 5, under police station Maheshtala and Sub Registration office at Alipore, Pargana Balia Touzi No. 349, in the Dist. of 24 Parganas (S) with superstructure thereon. d) All that piece and parcel of land measuring about 0.25 decimal ( 15 Cottahs 2 Chittaks) in Dag No. 9 under Khatian No. 144, Mouza Mahadebpur, J.L. No. 14, R.S No. 66 under police station Maheshtala and Sub Registration office at Alipore, Pargana Balia Touzi No. 349, in the District of 24 Parganas (S) with superstructure.
Charge identification number of the charge to be modified	10089511
Particulars of the present modification	By present modification the overall limit secured by charge has been enhanced from Rs. 1980.000 millions to Rs. 3030.000 millions. The revised overall facilities sanctioned is as follows- Bank of Baroda - Rs. 2340.000 millions State Bank of India - Rs. 690.000 millions Other terms and conditions save as modified above remain unchanged.

FIXED ASSETS

· Land

· Office Premises

· Goodwon

· Plant and Machinery

· Electrical Installation

· Furniture and Fixtures

· Office Equipments

· Computers

· Vehicles

· Pollution Control Equipments

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	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--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	NO
--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.