MIRA INFORM REPORT

Report Date :

21.10.2011

IDENTIFICATION DETAILS

Name :	FORECH INDIA LIMITED
Formerly Known As :	HILTON MARKETING LIMITED
Registered Office :	S-23, Green Park Extension, New Delhi – 110 016, Delhi
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	21.01.1983
Capital Investment / Paid-up Capital :	Rs.92.328 millions
CIN No.: [Company Identification No.]	U51109DL1983PLC015047
TAN No.: [Tax Deduction & Collection Account No.]	DELF02468E
PAN No.: [Permanent Account No.]	AAACF0240N
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Conveyor Belts, Rubber Sheets Conveyor Belt Accessories and Repair Material
No. of Employees :	600 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

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

Maximum Credit Limit :	USD 1600000
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

INFORMATION PARTED BY

Name :	Mr. Arvind Bhatnagar
Designation :	Vice President
Date :	13.10.2011

LOCATIONS

Registered Office :	S-23, Green Park Extension, New Delhi – 110 016
Tel. No.:	91-11-26960868 / 26514019 / 26961275 / 26534243 / 26516327
Mobile No.:	91-9818148040 (Mr. Arvind Bhatnagar)
Fax No.:	91-11-26862373 / 26534269 / 51755366 / 26862375
E-Mail :	forech@ndb.vsnl.net.in hilton@hilton-inti.com ikb@forech.net sandeepg@forech.com scg@forech.com kapil@forech.com info@forech.net
Website :	www.forech.com
Area :	10000 sq. ft. (approximately)
Location :	Owned
Head Office :	17, 18 and 19, Sector 17 A, Chandigarh – 160 017, India
Factory 1 :	Village Rai, G. T. Road, Tehsil and District Sonepat – 131 029, Haryana, India
Tel. No.:	91-130-2366571/2366572/2366379
Fax No. :	91-130-2366384
E-Mail :	rai@forech.net
Factory 2 :	Malikpur Road, Village Dhaturi, Sonepat-131 027, Haryana, India
Tel. No.:	91-130-2475931
Fax No.:	91-130-2475931
E-Mail :	dhaturi@forech.net
Factory 3 :	1, Sipcot Indusrial Park, Post Mathur Mangal, Cheyyar, District Thiruvannamalai - 610 701, Tamil Nadu, India
Mobile No.:	91-9444895612
E-Mail :	cheyyar@forech.net

DIRECTORS

As On 25.08.2010

Name :	Mr. Ravi Khanna
Designation :	Managing Director
Address :	B-1/40, Safdarjaug Enclave, New Delhi – 110029, Delhi, India
Date of Birth/Age :	06.12.1955
Date of Appointment :	02.01.1195
DIN No. :	00165154

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	U74899DL1983PTC015595	Mansaarover Irrigations Private Limited	Director	23-04-83	23-04-83	-	Active	NO
2	U51109DL1983PLC015047	Forech India Limited	Managing director	15-09-95	15-09-95	-	Active	NO
3	U25209DL2002PTC115324	Eagle Mining Products Private Limited	Director	13-05-02	13-05-02	-	Active	NO
4	U51909DL2002PTC117547	Rubcon Mining Accessories Private Limited.	Director	31-10-02	31-10-02	24-03-09	Active	NO
5	U25192DL2007PTC159129	Optitech Conveyors Private Limited	Director	12-02-07	12-02-07	25-03-09	Active	NO
6	U22110HR2010PTC040759	Jaypee Publisher Private Limited	Director	25-06-10	25-06-10	-	Active	NO
7	U25190DL2010PTC211372	Gerbelt Conveyer Systems Private Limited	Director	13-12-10	13-12-10	-	Active	NO
8	U85195MH1994PTC080801	Accurex Biomedical Private Limited	Additional director	03-05-11	03-05-11	-	Active	NO
9	U14220DL2007PTC163241	Hilton Polyflex Private Limited	Director	05-05-11	05-05-11	-	Active	NO

Name :	Ms. Jyoti Khanna
Designation :	Director
Address :	B-1/40, Safdarjaug Enclave, New Delhi – 110029, Delhi, India
Date of Birth/Age :	03.12.1957
Date of Appointment :	02.01.1995
DIN No. :	00165409

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	U51109DL1983PLC015047	Forech India Limited	Director	02-01-95	02-01-95	Active	NO
2	U22110HR2010PTC040759	Jaypee Publisher Private Limited	Director	25-06-10	25-06-10	Active	NO

Name :	Mr. Krishan Agarwal
Designation :	Whole Time Director
Address :	53 Suvidha Kunj Zone H 4/5, Pitampura, New Delhi- 110085, Delhi, India
Date of Birth/Age :	25.05.1970
Date of Appointment :	01.04.2008
Name :	Mr. Bharat Gandotra
Designation :	Whole-time director
Address :	B-1/40, Safdarjaug Enclave, New Delhi – 110029, Delhi, India
Date of Birth/Age :	10.07.1975
Date of Appointment :	01.04.2008
DIN No. :	00165267

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	U74899DL1994PLC059695	Hilton International Limited	Director	01-07-97	01-07-97	Amalgamated	NO
2	U51109DL1983PLC015047	Forech India Limited	Whole-time director	01-10-08	01-04-08	Active	NO
3	U25190DL2010PTC211372	Gerbelt Conveyer Systems Private Limited	Director	13-12-10	13-12-10	Active	NO

Name :	Mr. Jens Hamacher
Designation :	Additional Director
Address:	Dorotheenstrasse, Dusseldorf – 40325, Germany
Date of Birth/Age :	20.06.1973
Date of Appointment :	28.05.2010
DIN No. :	02758627

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	U51909DL2002PTC117547	Rubcon Mining Accessories Private Limited.	Nominee director	20-01-04	20-01-04	Active	NO
2	U51109DL1983PLC015047	Forech India Limited	Director	25-08-10	28-05-10	Active	NO

Name :	Mr. Thomas Josef Ziller
Designation :	Additional Director
Address:	Dorfstrasse, Erkrath – 40699, Germany
Date of Birth/Age :	14.03.1953
Date of Appointment :	28.05.2010
DIN No. :	02846016

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	U29249TN1986PTC013451	Nilos India Private Limited	Nominee director	18-07-97	18-07-97	Active	NO
2	U51109DL1983PLC015047	Forech India Limited	Director	25-08-10	28-05-10	Active	NO

Name :	Mr. Peter Rudolf Hartlieb Wallthor
Designation :	Additional Director
Address:	Nove Mesto Plat Z 6, Hilden – 40721, Germany
Date of Birth/Age :	10.03.1952
Date of Appointment :	28.05.2010
DIN No. :	02842055

KEY EXECUTIVES

Name :	Mr. Arvind Bhatnagar
Designation :	Vice President
Name :	Mr. Amar Shukla
Designation :	Sales Manager
Name :	Mr. Manoj Gupta
Designation :	Company Secretary
Name :	Mr. Sudhir Kumar Garg
Designation :	Company Secretary
Address:	50 Krishan Vihar, New Delhi – 110086, Delhi, India
Date of Birth/Age :	03.04.1979
Date of Appointment :	03.08.2010
Pan No. :	AGJPG8071C

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As On 25.08.2010

Names of Shareholders	No. of Shares	Percentage of Holding
Ravi Khanna	3001729	32.87
Jyoti Khanna	630878	6.91
Aadisht Khanna	864000	9.46
Ravi Khanna HUF	307765	3.37
Bhavya Khanna	857000	9.38
Suversha Khanna	448672	4.91
Ravi Khanna and R Letter Anand	9000	0.10
Hilton Tyre Private Limited	400000	4.38
Global Infosystem Limited	37500	0.41
Euro Soft Solution	300000	3.28
Integra Telecommunication and Software Limited – India	62500	0.68
D. D. Aggarwal	86400	0.95
Pankaj Aggarwal	9600	0.11
D. D. Aggarwal (HUF)	9600	0.11
Bharat Gandotra	536504	5.87
Ruchika Goel	41360	0.45
Paras Goel	32560	0.36
Anand Goel and Sons (HUF)	14080	0.15
Letter K Melahotra	12320	0.13
Renu Aggarwal	67200	0.74
Bhavna Malik	160016	1.75
Manik Dogra	16	0.00
Hira Meani Devi	52800	0.58
G. C. Technology (India) Private Limited – India	18000	0.20
Fair N Square Exports Private Limited – India	18000	0.20
Sunrise Buildmore Private Limited – India	612500	6.71
Parasana Bhat	50000	0.55
Nilos Hans Ziller	492850	5.40
Total	9132850	100.00

As On 15.09.2010

Names of Allottees	No. of Shares
NILOS GMBH and Company – Germany	467150
Total	467150

As On 25.08.2010

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	15.86
Directors or relatives of directors	58.72
Other top fifty shareholders	25.42
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Conveyor Belts, Rubber Sheets Conveyor Belt Accessories and Repair Material

Products :

Product Description	ITC Code
Conveyor Belt	4010.90
Compound Rubber	4005.00
Rubber Sheet	4008.29
Transmission Belt	4010.90

· Conveyor Belts

· Transmission belts

· Cleated Belts

· V-Belts

· Rubber Sheets

· Conveyor Accessories

· Strips

· Conveyor belt’s Repair Strips

· Patches

· Material Handling Equipments

Exports :

Products :

Conveyor Belt Accessories

Countries :

· America

· Australia

Imports :

Products :

Conveyor Belts

Countries :

· Europe

· Malaysia

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

GENERAL INFORMATION

Customers :

End Users

No. of Employees :

600 (Approximately)

Bankers :

· Centurion Bank of Punjab Limited, L40, Connaught Circus, New Delhi 110 001, India

· Bank of America

· Indusind Bank Limited

· HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel West, Mumbai – 400 013, Maharashtra

· ICICI Limited

· Haryana Financial Corporation

· State Bank of India, Commercial Branch, Vardhman Trade Centre, P. No. 3 and 4, 2^nd Floor, DDA Building, Nehru Place, New Delhi-110019

· Bank of Punjab Limited, L – 40, Connaught Circus, New Delhi – 110 001, India

· HSBC Bank Limited, Birla House, Barakhamba Road, Delhi, India

· The Hongkong and Shanghai Banking Corporation Limited – Birla House, 25 Barakhamba Road, New Delhi – 110046, Delhi, India

Facilities :

Cash Credit: Rs. 145.000 millions (HSBC Bank Limited)

Secured Loans :	As on 31.03.2010 Rs. in Millions
Working Capital Loan Cash Credit - HDFC Bank Limited	9.439
Cash Credit – HSBC Bank Limited	2.319
Cash Credit – State Bank of India	17.020
Packing Credit Loan – HSBC Bank	5.123
Packing Credit Loan – HDFC Bank Limited	9.944
Packing Credit Loan – State Bank of India (Working capital limits are secured by first pari passu charge by hypothecation of raw material, finished goods, work in process, book debts and second pari passu charge on entire fixed assets and further secured by personal guarantee of directors of the company)	16.236
Term Loan HDFC Bank Limited	16.301
HSBC Bank (Term Loan are secured by first pari passu charge on entire fixed assets of the company and second pari passu charges by way of hypothecation of raw material, finished goods, work in progress and book debts also by personal guarantee of directors of the company. Repayable during the financial year 2010-11 is Rs. 46.100 millions)	168.300
Loan against Vehicle HDFC Bank Limited	1.882
ICICI Bank Limited	0.540
Indusind Bank Limited	0.063
Kotak Mahindra Premium Limited (cars loans from HDFC Bank Limited, Kotak Mahindra Premium Limited and ICICI Bank are secured against Hypothecation of car and Loan from Indusiand bank Limited is secured against hypothecation of Eicher Truck. Repayable during the financial year 2010-11 is Rs. 1.796 millions)	0.058
Total	247.225

Unsecured Loans :	As on 31.03.2010 Rs. in Millions
Deposits from Directors	53.366
Deposits from Shareholders	17.209
Deposits from Others	12.304
Deposits from Corporates	22.666
Total	105.545

Banking Relations :

--

Auditors :

Name :

Shanti Prasad and Company

Chartered Accountants

Address :

M-96, Connaught Place, New Delhi 110 001, Delhi, India

Tel. No.:

91-11-23416000/ 7000

Pan No.:

AAZFS2102G

Associates :

· Hilton International Limited

Address: Hilton House, S-23, Green Park Extension, New Delhi – 110 016

Tel. 91-11-26534243/26516327

Fax. 91-11-51755366

E-mail. hilton@hilton-int.com

Line of Business: Manufacturer of Conveyor Belts, Rubber Sheets Conveyor Belt Accessories and Repair Material

· Mercury Rubber Mills

· Hilton Renoulds Limited, Rai, Sonepat

CAPITAL STRUCTURE

As on 25.08.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
14200000	Equity Shares	Rs.10/- each	Rs.142.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
9700000	Equity Shares	Rs.10/- each	Rs.97.000 millions

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
14200000	Equity Shares	Rs.10/- each	Rs.142.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
9132850	Equity Shares	Rs.10/- each	Rs.91.329 millions
250000	Equity Shares (Share Forfeiture)	Rs.4/- each	Rs.1.000 million
	Total		Rs.92.329 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		92.328	87.400	40.571
2] Share Application Money		18.156	0.000	0.000
3] Reserves & Surplus		301.977	205.391	155.593
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		412.461	292.791	196.164
LOAN FUNDS
1] Secured Loans		247.225	165.252	77.728
2] Unsecured Loans		105.545	88.441	97.509
TOTAL BORROWING		352.770	253.693	175.237
DEFERRED TAX LIABILITIES		24.307	9.967	10.400
TOTAL		789.538	556.451	381.801
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		575.881	188.052	191.628
Capital work-in-progress		52.430	193.896	40.591
INVESTMENT		0.608	0.608	0.608
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	130.826	117.388	111.215
	Sundry Debtors	200.570	188.529	178.377
	Cash & Bank Balances	23.095	21.583	16.598
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	87.001	82.480	92.579
Total Current Assets		441.492	409.980	398.769
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	244.873	182.257	202.976
	Other Current Liabilities	22.099	23.268	22.853
	Provisions	14.286	30.860	24.370
Total Current Liabilities		281.258	236.385	250.199
Net Current Assets		160.234	173.595	148.570
MISCELLANEOUS EXPENSES		0.385	0.300	0.404
TOTAL		789.538	556.451	381.801

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	1247.768	1336.336	1136.226
		Other Income	3.388	2.993	3.153
		TOTAL (A)	1251.156	1339.329	1139.379
Less	EXPENSES
		Material Consumed	844.376	929.149	778.964
		Manufacturing Expenses	164.240	146.430	130.809
		Selling and Administration Expenses	113.307	112.121	115.121
		TOTAL (B)	1121.923	1187.700	1024.894
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		129.233	151.629	114.485
Less	FINANCIAL EXPENSES (D)		32.524	45.433	36.748
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		96.709	106.196	77.737
Less/ Add	DEPRECIATION/ AMORTISATION (F)		37.313	27.762	25.219
	PROFIT BEFORE TAX (E-F) (G)		59.396	78.434	52.518
Less	TAX (I)		25.839	28.488	20.201
	PROFIT AFTER TAX (G-I) (J)		33.557	49.946	32.317
Less	INCOME TAX ADJUSTMENT OF EARLIER YEARS		1.042	0.348	0.557
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		110.005	60.407	33.647
Less	APPROPRIATIONS
		Transfer to General Reserve	0.000	0.000	5.000
	BALANCE CARRIED TO THE B/S		142.520	110.005	60.407
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	564.345	691.662	619.053
	TOTAL EARNINGS
	IMPORTS
		Raw Materials	169.101	213.437	154.812
		Plant and Machinery	45.989	36.884	16.840
		Maintenance Goods	0.050	4.111	1.175
		Packing Material	0.232	0.784	0.868
	TOTAL IMPORTS		215.372	255.216	173.695
	Earnings Per Share (Rs.)		3.71	6.24	7.45

Particulars	31.03.2011
Sales Turnover (Approximately)	2400.000

The above information has been parted by Mr. Arvind Bhatnagar

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	2.68	3.73	2.84
Net Profit Margin (PBT/Sales)	(%)	4.76	5.87	4.62
Return on Total Assets (PBT/Total Assets}	(%)	5.84	13.12	8.90
Return on Investment (ROI) (PBT/Networth)		0.14	0.27	0.27
Debt Equity Ratio (Total Liability/Networth)		1.54	1.67	2.17
Current Ratio (Current Asset/Current Liability)		1.57	1.73	1.59

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents
1.	Year of Establishment	YES
2.	Locality of the firm	YES
3.	Constitutions of the firm	YES
4.	Premises details	YES
5.	Type of Business	YES
6.	Line of Business	YES
7.	Promoter’s background	--
8.	No. of employees	YES
9.	Name of person contacted	YES
10.	Designation of contact person	YES
11.	Turnover of firm for last one years	YES
12.	Profitability for last three years	NO
13.	Reasons for variations <> 20%	NO
14.	Estimation for coming financial year	NO
15.	Capital in the business	NO
16.	Details of sister concerns	NO
17.	Major Suppliers	NO
18.	Major Customers	NO
19.	Payment terms	YES
20.	Export / Import details (is applicable)	YES
21.	Market information	--
22.	Litigation that the firm / promoter involved in	--
23.	Banking Details	YES
24.	Banking facility details	NO
25.	Conduct of the banking account	--
26.	Buyer visit details	--
27.	Financials, if provided	NO
28.	Incorporation details, if applicable	--
29.	Last accounts filed at ROC	--
30.	Major Shareholders, is available	--

IMPORTANT FINANCIAL POINTS

-Comparing with last year financial results there is no major deviation in sales and profit.

There is marginal decline in sales and profits comparing it with last year figure, but current year figure of sale and profit are higher than the F.Y 2007-08. With the commissioning of new plant the Sales and Profit are likely to improve in near future.

- The interest cost has gone down from Rs 37.400 Millions to Rs 26.530 Millions.

- The company has invested more than Rs 420.000 millions till 31.3.2010 in the Cheyyar Plant.

Company has capitalized Rs 379.200 Millions on P and M and Building etc including interest cost of Rs 15.700 millions.

-Company has gone into MAT (Minimum Alternate Tax) during the current financial year.

FORM : 8

Bankers Charges Report as per Registry

Name of the company	FORECH INDIA LIMITED
Presented By	Bank of Punjab Limited, L-40, Circus, New Delhi, India
1) Date and description of instrument creating the change	Agreement of hypothecation of assets to secure term loans dated 04.09.2004. Letter of hypothecation dated 04.09.2004, General Letter of hypothecation dated 04.09.2004, Agreement of loan for overall limit, agreement of hypothecation of machinery dated 04.09.2004
2) Amount secured by the charge/amount owing on the securities of charge	Rs. 2.000 millions
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given	First charge on plant and machinery and other fixed assets of Forech India limited having net depreciated value of Rs. 34.241 millions as on 31.03.2003. Equitable mortgage of factory land and building measuring 4.20 acres in the name of Forech India Limited situtated at Village Rai, Tehsil and District Sonepat, Haryana Equitable mortgage of land (vacant industrial land) measuring 3.2 marlas situated at village rai district sonepat in the name of M/s Forech India Limited
4) Gist of the terms and conditions and extent and operation of the charge.	Rate of Interest: PLR of Bop presently 11.50% p.a Penal Interest @2% p.a Payable in 36 monthly installment of Rs. 0.066 millions
5) Name and Address and description of the person entitled to the charge.	Bank of Punjab Limited L-40, Circus, New Delhi 110 001, India
6) Date and brief description of instrument modifying the charge	Not Applicable
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.	Not Applicable

Corporate identity number of the company	U51109DL1983PLC015047
Name of the company	FORECH INDIA LIMITED
Address of the registered office or of the principal place of business in India of the company	S 23, Green Park Extension, New Delhi- 110016, Delhi, India
This form is for	Modification of charge
Type of charge	Book Debts Stock-in-trade
Particular of charge holder	The Hongkong and Shanghai Banking Corporation Limited - Birla House, 25 Barakhamba Road, New Delhi – 110046, Delhi, India E-Mail : gjai@gjai.net
Nature of description of the instrument creating or modifying the charge	Supplemental Hypothecation Agreement for Stock and Book Debts dated 24.08.2010
Date of instrument Creating the charge	24.08.2010
Amount secured by the charge	Rs. 145.000 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest shall be payable by the co. on the banking facilities as per banks tariff, subject however that the bank shall have the right to change the rate of interest after giving notice to the company. Terms of Repayment In consideration of banking facilities sanctioned/to be sanctioned by the Bank to the Company, the Company has hypothecated and charged to the bank by way of First Pari Passu Charge as a continuing security, the assets mentioned in the Agreement to secure the repayments of the advances together with interest cost and all other charges Margin The Company shall maintain such margin as may be specified by the bank from time to time Extent and Operation of the charge In case the company fails to fulfill its obligation under the agreement, the bank shall be entitled to take possession of the hypothecated properties and sell them by public auction or private contract and utilize the proceeds in full or part settlement of its claims
Particulars of the property charged	Ist Pari Passu Charge on all the Co's stock-in-trade both present and future including stocks of raw materials, work-in-progress, spares and stores and finished goods And all the company's present and future book debts, outstanding monies, receivables, claims due and owing
Particulars of the present modification	The overall credit facilities has been enhanced from INR 85 Million to INR 145 Million. All other terms and conditions remain the same.

FIXED ASSETS

· Land

· Building

· Plant and Machinery

· Moulds

· Computer

· Office Equipments

· Fire Fighting Equipments

· Furniture and Fixture

· Cars

· Vehicles

· Air Pollution Equipments

· Testing Equipments

· Crane Escort

· Boiler Thermax

· ERP Software

· Technical Know How

AS PER WEB SITE DETAILS:

PROFILE:

Subject is the Brand for a group of Companies, focused on meeting the needs of the Mining and Mineral Processing Industry related to bulk material handling; wear protection and environment management.

The Group started its activities in the year 1972 with initial focus on Conveyor Belts. Gradually, with the induction of new technologies and systems its activities have grown, to cover the rubber based needs of the above industry segment specifically in Crushing, Screening and Material Handling area.

There products include a comprehensive range of Conveyor Belts, Ruber Lining materials both to Wear and Chemical Resistance, composites made of Metals, Ceramics, Textiles and Rubbers, Repairs and Splicing materials required for the above industrial segment.

The continuous growth which Subject have shown in the past is a result of efficient production processes and keeping a close contact with all the areas where these products are being used. Today the group exports its products to over SO countries around the world which constitute to almost 80% of its turnover and endeavors to become a one-stop-shop which offers all the rubber related needs of themining and mineral processing industry.

The group holds its prominent position in this field on account of a constant search for improvement and further development based on customer needs and responses.

In search of excellence the group has also been assisted by global brand leaders in their respective fields of Conveyor Belts, Wear Resistant Components, Rubber Sheeting, Repair and Splicing Systems.

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.49.71
UK Pound	1	Rs.78.09
Euro	1	Rs.68.05

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	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		50

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.