MIRA INFORM REPORT

Report Date :

12.09.2011

IDENTIFICATION DETAILS

Name :	HALDIRAM SNACKS PRIVATE LIMITED
Formerly Known As :	HALDIRAM FOOD PRODUCTS PRIVATE LIMITED
Registered Office :	B-1/H-3, Mohan Co-Operative Industrial Estate, Mathura Road, New Delhi-110044, Delhi
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	18.09.1989
Com. Reg. No.:	55-037732
Capital Investment / Paid-up Capital :	Rs. 131.000 Millions
CIN No.: [Company Identification No.]	U74899DL1989PTC037732
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Frozen Foods, Namkeens, Sweet, Cookies, Sherbets, Minute Khana, Papads, Pani Puri, Bhel Puri, Chips, Boletos, Takatak, Gujarati Snacks etc.

RATING & COMMENTS

MIRA’s Rating :

Ba (53)

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

Maximum Credit Limit :	USD 5100000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is an established and reputed company having fine track. Financial position of the company is good. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments. The company can be considered good for normal 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 – April 1, 2010

Country Name	Previous Rating (31.12.2009)	Current Rating (01.04.2010)
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 / Corporate Office :	B-1/H-3, Mohan Co-Operative Industrial Estate, Mathura Road, New Delhi-110044, Delhi, India
Tel. No.:	91-11-28898010
Fax No.:	91-11-28898016
E-Mail :	cs@haldiram.com
Website :	www.haldiram.com

DIRECTORS

AS ON 29.09.2010

Name :	Mr. Manohar Lal Agarwal
Designation :	Chairman
Address :	7-B, Rajnarain Road, Civil Lines, Delhi-110054, India
Date of Birth/Age :	30.10.1954
Date of Appointment :	01.10.2005
DIN No.:	00290780

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	U74899DL1989PTC037732	Haldiram Snacks Private Limited	Managing director	18-09-89	18-09-89	-	Active	NO
2	U74899DL1982PTC013296	Haldiram Marketing Private Limited	Director	22-02-92	22-02-92	-	Active	NO
3	U74899DL1992PTC047164	Hrb Foods Private Limited	Director	14-06-93	14-06-93	-	Active	NO
4	U74899DL1993PTC055846	Haldiram Exports Private Limited	Director	29-10-93	29-10-93	-	Active	NO
5	U74899DL1994PTC059370	Haldiram Manufacturing Company Private Limited	Managing director	17-12-94	17-12-94	-	Active	NO
6	U74899DL1995PTC071180	Haldiram India Private Limited	Director	27-07-95	27-07-95	-	Active	NO
7	U30007DL1996PTC082326	Bayana Intech Private Limited	Director	01-06-98	01-06-98	-	Active	NO
8	U74899DL1985PTC021855	M R Equipment And Warehousing Private Limited	Director	05-07-99	05-07-99	-	Active	NO
9	U15138DL2005PTC135999	Orris Foods Private Limited	Director	09-05-05	09-05-05	-	Active	NO
10	U72200DL2005PTC137086	Hrb Softech Private Limited	Director	02-06-05	02-06-05	-	Active	NO
11	U85110DL2006PTC154782	Alpine Medicare Private Limited	Director	14-10-06	14-10-06	-	Active	NO
12	U01520DL2006PTC155931	Bright Agrotech Private Limited	Director	27-11-06	27-11-06	-	Active	NO
13	U01520DL2006PTC155932	Harmony Agrotech Private Limited	Director	27-11-06	27-11-06	-	Active	NO
14	U15202DL2006PTC155907	Sharp Foods Private Limited	Director	27-11-06	27-11-06	-	Active	NO
15	U45200DL2008PTC176164	Doyen Town Planners Private Limited	Additional director	26-04-08	26-04-08	23-03-09	Active	NO
16	U70109DL2008PTC176175	Bluejays Realtech Private Limited	Director	26-09-09	25-09-08	24-03-10	Active	NO
17	U72200DL1997PTC195154	Selectica India Private Limited	Director	12-09-09	12-09-09	-	Amalgamated	NO
18	U25209DL2006PTC155132	Delite Products Private Limited	Director	30-09-10	03-04-10	-	Active	NO
19	U70109DL2007PTC158116	Adhunik Realators Private Limited	Director	29-04-10	29-04-10	-	Active	NO
20	U70109DL2006PTC152118	Crest Developers Private Limited	Director	28-09-10	31-05-10	-	Active	NO
21	U70200DL2010PTC204801	Green Bay Infrastructure Private Limited	Director	25-06-10	25-06-10	-	Active	NO
22	U15122DL2003PTC122260	Aesthetic Garments Private Limited	Additional director	02-07-10	02-07-10	-	Active	NO
23	U15410DL2011PTC214258	HR Snacks Private Limited	Director	17-02-11	17-02-11	-	Active	NO

Name :	Mr. Anand Agarwal
Designation :	Managing Director
Address :	7-B, Rajnarain Road, Civil Lines, Delhi-110054, India
Date of Birth/Age :	18.03.1978
Date of Appointment :	01.04.2003
DIN No.:	00014112

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	L74899DL1985PLC019991	Surya India Limited	Director	30-09-98	30-09-98	22-12-10	Active	NO
2	U74899DL1994PTC059370	Haldiram Manufacturing Company Private Limited	Whole-time director	01-06-99	01-06-99	-	Active	NO
3	U74899DL1989PTC037732	Haldiram Snacks Private Limited	Managing director	01-04-03	01-04-03	-	Active	NO
4	U01520DL2006PTC155931	Bright Agrotech Private Limited	Director	25-02-08	25-02-08	-	Active	NO
5	U72200DL1997PTC195154	Selectica India Private Limited	Additional director	04-12-09	04-12-09	-	Amalgamated	NO
6	U70109DL2007PTC158116	Adhunik Realators Private Limited	Director	29-04-10	29-04-10	-	Active	NO
7	U15122DL2003PTC122260	Aesthetic Garments Private Limited	Additional director	02-07-10	02-07-10	-	Active	NO

Name :	Mr. Ashish Agarwal
Designation :	Whole Time Director
Address :	7-B, Rajnarain Road, Civil Lines, Delhi-110054, India
Date of Birth/Age :	07.04.1983
Date of Appointment :	07.04.2004
DIN No.:	00011486

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	L74899DL1985PLC019991	Surya India Limited	Director	15-01-02	15-01-02	22-12-10	Active	NO
2	U74899DL1989PTC037732	Haldiram Snacks Private Limited	Whole-time director	01-04-04	01-04-04	-	Active	NO
3	U74899DL1994PTC059370	Haldiram Manufacturing Company Private Limited	Director	01-07-06	01-07-06	-	Active	NO
4	U01520DL2006PTC155932	Harmony Agrotech Private Limited	Director	27-11-06	27-11-06	-	Active	NO
5	U01520DL2006PTC155931	Bright Agrotech Private Limited	Director	25-02-08	25-02-08	-	Active	NO

Name :	Mr. Pankaj Agarwal
Designation :	Director
Address :	7-B, Rajnarain Road, Civil Lines, Delhi-110054, India
Date of Birth/Age :	01.04.1977
Date of Appointment :	01.07.2006
DIN No.:	00011384

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	U74899DL1994PTC059370	Haldiram Manufacturing Company Private Limited	Managing director	01-04-06	31-03-97	Active	NO
2	U15100MH1993PLC074269	Niraj Snacks Limited	Director	08-12-04	08-12-04	Amalgamated	NO
3	U72200DL2005PTC137086	Hrb Softech Private Limited	Director	02-06-05	02-06-05	Active	NO
4	U74899DL1989PTC037732	Haldiram Snacks Private Limited	Whole-time director	01-08-11	01-07-06	Active	NO
5	U01520DL2006PTC155931	Bright Agrotech Private Limited	Director	27-11-06	27-11-06	Active	NO
6	U70109DL2006PTC152118	Crest Developers Private Limited	Director	28-09-10	31-05-10	Active	NO
7	U15410DL2011PTC214258	HR Snacks Private Limited	Director	17-02-11	17-02-11	Active	NO

Name :	Mr. Sanjay Kumar Singhanta
Designation :	Director
Address :	9/402, B-9/3, Shpitt Kunj Apartments, Sector – 62, Noida-201301, Uttar Pradesh, India
Date of Birth/Age :	02.05.1967
Date of Appointment :	28.09.2008
DIN No.:	02330235

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	U74899DL1989PTC037732	Haldiram Snacks Private Limited	Director	28-09-08	24-09-08	Active	NO

Name :	Mr. Balbir Singh
Designation :	Director
Address :	Flat No.156, Pocket-6, Kendriya Vihar-2, Sector82, Noida-201301, Uttar Pradesh, India
Date of Birth/Age :	15.05.1971
Date of Appointment :	15.05.2009
DIN No.:	02640402

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	U74899DL1989PTC037732	Haldiram Snacks Private Limited	Director	29-09-09	15-05-09	Active	NO

Name :	Mr. Tukaram Ramrao Chate
Designation :	Director
Address :	Damyanti Apartments, Flat No.1, Behind HDFC House, Civilline Nagar, Nagpur-440001, Maharashtra, India
Date of Birth/Age :	05.01.1956
Date of Appointment :	21.01.2010
DIN No.:	02919428

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	U74899DL1989PTC037732	Haldiram Snacks Private Limited	Additional director	29-09-10	21-01-10	Active	NO

Name :	Mr. Madhusudan Agarwal
Designation :	Whole Time Director
Address :	7-B, Rajnarain Road, Civil Lines, Delhi-110054, India
Date of Birth/Age :	10.01.1957
Date of Appointment :	26.04.2010
DIN No.:	00011316

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	U74899DL1995PTC071180	Haldiram India Private Limited	Director	27-07-95	27-07-95	Active	NO
2	U15490DL1996PTC081504	Haldi Ram Products Private Limited	Managing director	01-07-08	15-03-97	Active	NO
3	U15100MH1987PLC045509	Haldiram Foods International Limited	Director	01-06-99	01-06-99	Active	NO
4	U25199DL2006PTC155141	Coral Products Private Limited	Director	30-09-08	16-06-08	Active	NO
5	U74899DL1989PTC037732	Haldiram Snacks Private Limited	Whole-time director	01-05-10	26-04-10	Active	NO

KEY EXECUTIVES

Name :	Ms. Rekha Sadana
Designation :	Secretary
Address :	28/53, West Patel Nagar, New Delhi-110008, Delhi, India
Date of Birth/Age :	01.06.1974
Date of Appointment :	08.10.2003
PAN No.:	AVLPS5652C

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2010

Names of Shareholders	No. of Shares
Manohar Lal Agarwal	780000
Anand Agarwal	780000
Manju Devi Agarwal	660000
Sumitra Agarwal	770000
Umesh Agarwal	440000
Pankaj Agarwal	780000
Madhusudan Agarwal	780000
Amit Agarwal	780000
Amisha Agarwal	430000
Preeti Agarwal	301607
Ashish Agarwal	540000
Ritu Agarwal	220000
Haldiram Marketing Private Limited, India	250000
Haldiram Exports Private Limited	311725
Haldiram Manufacturing Company Private Limited, India	5276668
Total	13100000

AS ON 29.09.2010

Category	Percentage
Bodies corporate	44.57
Directors or relatives of Directors	55.43
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Frozen Foods, Namkeens, Sweet, Cookies, Sherbets, Minute Khana, Papads, Pani Puri, Bhel Puri, Chips, Boletos, Takatak, Gujarati Snacks etc.

GENERAL INFORMATION

Bankers :

· Yes Bank Limited, 9^th Floor, Nehru Centre, discovery of India, Dr. Annie Besant Road, Worli, Mumbai-400018, Maharashtra, India

· HDFC Bank

· ABN Amro Bank

· State Bank of India

· Standard Chartered Bank

· Axis Bank Limited

Facilities :

Secured Loan	Rs. In Millions 31.03.2010	Rs. In Millions 31.03.2009
From Bank
Term Loan
Term Loan (FCNRB) – HDFC Bank	9.233	23.448
Term Loan ABN- AMRO –US$ 5MN (ECB)	78.995	140.113
Term Loan ABN – AMRO Bank US$ 11MN	124.135	191.062
Standard Chartered Bank	55.611	75.833
Axis Bank Limited	181.502	0.000
Vehicle Term Loan
Axis Bank Limited	0.963	0.000
Cash Credit Account with:
ABN – AMRO Bank US$ Cash Credit	0.000	24.591
ABN – AMRO Bank CC A/c	144.649	23.173
State Bank of India	0.000	9.235
State Bank of India FNCR Cash Credit	0.000	99.480
Yes Bank Limited	68.826	0.000
From Others
Loan – Nodia Authority (Sec-67) (Deferred installment on Industrial land allotted by Noida Authority, secured against such land)	0.000	86.497
Noida Industrial Development Authority (C-62) (Deferred installment on industrial land allotted by Noida Authority, secured against such land)	0.000	4.591
Total	663.914	678.023

Notes:

1. The above loan, was secured by the 1st Pari Passu Charge on P and M and Equitable Mortgage of land and building at Plot No. B-1, Sector 63, NOIDA standing in the name of the company. The loan is secured by personal guarantee of directors and relative of directors of the company.

2. Secured against First exclusive charge on moveable ale immovable of property at A-2. A-3, A-4 At Sector 65, NOIDA The loan b also sewred by corporate guarantee of Haldiram Manufacturing Company Private Limited and personal guarantee of Mr. Manohar Lal Agarwal. Mr. Madhu Sudan Agarwal and Mr. Pankaj Agarwal.

3. Secured against first pari passu charge on present and future moveable fixed assets of the company located at B-1, Sector-63, Noida and first pari passu charge on the immovable fixed assets of the company located at Block-B. Plot No-1, Sector-63, Noida (Uttar Pradesh). Also first exclusive charge on the present and future Immovable and moveable fixed assets at B-14 and 15, Sector-63, Further also secured by corporate guarantee of Haldiram Products Private Limited. Haldiram Marketing Private Limited. Haldiram Exports Private Limited and Haldiram Manufacturing Company Private Limited and also with the personal guarantee of Mr. Manohar Lal Agarwal, Mr. Madhu Sudan Agarwal, Mr. Ashish Agarwal, Anand Agarwal and Mr. Pankaj Agarwal.

4. The loan is secured by the fixed assets purchased out of the proceeds of the term loan and first charge by way of Equitable Mortgage of property skate at 45, Ring Road, New Delhi in the name of Haldiram Marketing Private Limited. The loan is also secured by corporate guarantee of Haldiram Marketing Private Limited.

5. Secured against pari passu first charge on project assets at C-3 Sector 67, NOIDA. The said facility is also secured by corporate guarantee of Haldiram Manufacturing Company Private Limited along with the personnel guarantee of directors.

6. Secured against the hypothecation of Vehicle

7. Secured against the Hypothecation of Stocks and Book Debts both present and future on First Pari passu basis with other, other lenders, and First Exclusive Charge by way of Hypothecation on movable fixed assets both present and future situated at Block-B, Plot No.14, 515 Sector43 and Equitable Mortgage on the immovable Fixed Assets situated at Block-B, Plot N-14 and 15, Sector-63, Noida (Uttar Pradesh) also First Pari Passu charge by Lay of Hypothecation on the movable fixed assets both present and future situated at Block-B, Plot No.1, Sector-63, Noida (Uttar Pradesh) and First Pari Passu charge by way of Equitable Mortgage on the immovable Fixed Assets situated at Block-B, Plot No.1, Sector-63, Noida (Uttar Pradesh). The said facility is also secured by personal guarantee of directors and relative of directors of the company.

8. Secured by way of First exclusive pari passu charge on entire current assets of the company including stock and book debts both present and future. Also secured by way of Collateral Security of Second charges on entire fixed assets of the company including Equitable Mortgage of factory land and building at Block-B, Plot No. 1, and Plot No. 14 and 15, Sector -63, Noida and Block -A, Plot No.2,3 and 4, Sector-65 Noida.

9. Secured by way of first charge on all current assets including stocks of raw material, semi-finished and finished goods stores and spares, bill receivable and book debts (both present and future). The said facility is also secured by personnel guarantee of directors.

Unsecured Loan	Rs. In Millions 31.03.2010	Rs. In Millions 31.03.2009
Loan from Directors and Relatives	46.574	71.942
Loan from Body Corporate	384.400	226.000
Total	430.974	297.942

Banking Relations :	--
Auditors :
Name :	P/ R. Kumar and Company Chartered Accountant
Address :	C-2/4, S. D. A., Main Aurobindo Marg, New Delhi110016, Delhi, India
Associates/Subsidiaries :	· Haldiram Marketing Private Limited · Haldiram India Private Limited · Haldiram Products Private Limited · Haldiram Trading Private Limited · Haldiram Exports Private Limited · Haldiram Manufacturing Company Private Limited · Haldiram Overseas Limited · M. R. Equipment and Warehouse Private Limited · M. L. Agarwal (HUF) · M. S. Agarwal (HUF) · Ashish Agarwal (HUF) · Amit Agarwal (HUF) · Pankaj Agarwal (HUF) · Anand Agarwal (HUF)

CAPITAL STRUCTURE

AS ON 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
16000000	Equity Shares	Rs.10/- each	Rs. 160.000 Millions

Note:

(of the above share 1000000 Equity Shares of Ro. 10/- of were increased pursuant to the Scheme of Amalgamation of Selectica India Private Limited with the company)

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
13100000	Equity Shares	Rs.10/- each	Rs. 131.000 Millions

Note:

(Out of which 374662 Equity share of Rs, 10/- each allotted to the shareholder of Competent lndexpo Limited pursuant to scheme of amalgamation)

AS ON 29.09.2010

Authorised Capital : Rs. 160.000 Millions

Issued, Subscribed & Paid-up Capital : Rs. 133.303 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		131.000	131.000	110.000
2] Share Application Money		22.303	0.000	0.000
3] Reserves & Surplus		1132.204	550.443	348.939
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1285.507	681.443	458.939
LOAN FUNDS
1] Secured Loans		663.914	678.023	713.270
2] Unsecured Loans		430.974	297.942	193.239
TOTAL BORROWING		1094.888	975.965	906.509
DEFERRED TAX LIABILITIES		45.636	36.849	34.232
TOTAL		2426.031	1694.257	1399.680
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1757.162	1330.164	1223.556
Capital work-in-progress		350.807	195.094	86.633
INVESTMENT		1.009	15.198	15.198
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	281.078	185.841	184.104
	Sundry Debtors	46.359	19.425	15.732
	Cash & Bank Balances	68.880	19.674	26.535
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	400.399	218.188	144.303
Total Current Assets		796.716	443.128	370.674
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	117.163	66.337	99.933
	Other Current Liabilities	60.225	44.222	39.597
	Provisions	306.391	182.017	160.765
Total Current Liabilities		483.779	292.576	300.295
Net Current Assets		312.937	150.552	70.379
MISCELLANEOUS EXPENSES		4.116	3.249	3.914
TOTAL		2426.031	1694.257	1399.680

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	3481.604	2489.366	1941.312
		Other Income
		TOTAL (A)	3481.604	2489.366	1941.312
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL (B)	2965.381	2304.534	1747.993
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)
Less	FINANCIAL EXPENSES (D)
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		516.223	184.832	193.319
Less/ Add	DEPRECIATION/ AMORTISATION (F)		118.945	105.738	80.037
	PROFIT BEFORE TAX (E-F) (G)		397.278	79.094	113.282
Less	TAX (I)		120.216	47.245	44.651
	PROFIT AFTER TAX (G-I) (J)		277.062	31.849	68.631
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		NA	NA	172.697
	Excess Provision of Gratuity and Leave Encashment written back		NA	NA	1.055
	BALANCE CARRIED TO THE B/S		NA	NA	242.383
	IMPORTS
		Raw Materials	2.816	0.230	0.210
		Stores & Spares	2.765	2.064	0.951
		Capital Goods	73.180	33.906	16.446
		Others	10.143	4.140	4.661
	TOTAL IMPORTS		88.904	40.340	22.268
	Earnings Per Share (Rs.)		21.15	2.79	6.34

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	7.96	1.28	3.54
Return on Total Assets (PBT/Total Assets}	(%)	15.56	4.46	7.11
Return on Investment (ROI) (PBT/Networth)		0.31	0.12	0.25
Debt Equity Ratio (Total Liability/Networth)		1.26	1.92	2.70
Current Ratio (Current Asset/Current Liability)		1.65	1.51	1.23

LOCAL AGENCY FURTHER INFORMATION

REVIEW OF OPERATION AND FUTURE OUTLOOK

The Company has achieved an impressive growth wherein the turnover of the company grew by around 40% in the current year in comparison to the corresponding previous year. The profit after tax has been increased around 9 folds in comparison to the corresponding previous financial year. In the Directors see great growth potential in business of restaurants and they shall continue to open such outlets at appropriate time and place. The Company's management believes that the Company will continue to maintain its growth momentum in future also and thereby create wealth for their shareholders.

FORM 8

Corporate identity number of the company	U74899DL1989PTC037732
Name of the company	HALDIRAM SNACKS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	B-1/H-3, Mohan Co-Operative Industrial Estate, Mathura Road, New Delhi-110044, Delhi, India
This form is for	Modification of charge
Type of charge	Immovable property Book debts Movable property (not being pledge) Floating charge Others
Particular of charge holder	Yes Bank Limited, 9^th Floor, Nehru Centre, discovery of India, Dr. Annie Besant Road, Worli, Mumbai-400018, Maharashtra, India
Nature of instrument creating charge	Memorandum of Equitable Mortgage by Deposit of Title Deeds dated August 11, 2011
Date of instrument Creating the charge	11.08.2011
Amount secured by the charge	Rs. 140.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest SLC/ULC: Comm. @ 0.50% per annum BC: Comm. @ 1.00% per annum Terms of repayment Sight Letter of Credit(SLC)/ Usance Letter of Credit(ULC)/ Buyer's Credit(BC): NA Margin SLC/ULC: 5% of the facility amount in the form of Fixed Deposit Receipts duly lien marked in the favor of YES Bank Limited BC: Nil Extent and operation of the charge First pari passu charge (along with Axis Bank) on all the assets of the borrower (both present and future), financed by YES Bank Limited under SLC/ ULC/ BC facilities. and Exclusive charge by way of Equitable Mortgage on building constructed on Industrial Plot No. 9 and 10 situated at Block B, Sector 63, Phase III, District Gautam Budh Nagar, Uttar Pradesh
Short particulars of the property charged (Including location of the property)	First Pari Passu Charge (along with Axis Bank) on all the Assets of the borrower (both present and future), financed by YES Bank Limited under SLC/ ULC/ BC facilities located anywhere in India. Exclusive charge by way of Equitable Mortgage on building constructed on Industrial Plot No. 9 and 10 admeasuring 3600 sq. mtrs situated at Block B, Sector 63, Phase III, District Gautam Budh Nagar, Uttar Pradesh.
Charge identification number of the charge to be modified	10283908
Particulars of the present modification	Modification pursuant to following changes:- The credit facilities granted to the Company shall be additionally secured by exclusive charge on Building constructed on Industrial Plot No. 9 and 10 admeasuring about 3600 sq. mtrs situated at Block - B, Sector - 63, Phase - III, District Gautam Budh Nagar, Uttar Pradesh.

FIXED ASSETS

· Goodwill

· Land

· Building

· Computer

· Furniture and Fixtures

· Office Equipments

· Plant and Machinery

· Vehicles

· Electrical Installation

· Computer Software

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. 46.38
UK Pound	1	Rs. 74.00
Euro	1	Rs. 64.48

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	7
--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	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		53

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.