MIRA INFORM REPORT

Report Date :

06.04.2012

IDENTIFICATION DETAILS

Name :	MAINI PRECISION PRODUCTS PRIVATE LIMITED
Registered Office :	B-165, 3^rd Cross, 1^st Stage, Peenya Industrial Estate, Bangalore-560058, Karnataka
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	03.03.1972
Com. Reg. No.:	08-002307
Capital Investment / Paid-up Capital :	Rs.14.796 Millions
CIN No.: [Company Identification No.]	U27201KA1972PTC002307
IEC No.:	0788007530
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturing and Exporting of precision products, engineering parts, automobile parts, castings parts, auto spare parts and components.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (43)

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

Maximum Credit Limit :	USD 1620000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an old and 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 :	B-165, 3^rd Cross, 1^st Stage, Peenya Industrial Estate, Bangalore-560058, Karnataka, India
Tel. No.:	91-80- 2212492/ 28394116 / 28398177/ 40724000
Fax No.:	91-80-2270684/ 41272500
E-Mail :	gkm@mainimail.com pkpande1@gmail.com
Website :	http://www.mainionline.com
Factory 1 :	5A, Bommasandra Industrial Estate, Bangalore, Karnataka, India
Tel. No.:	91-80-22898971
Factory 2 :	Bommasandra Industrial Estate, Bangalore, Karnataka, India
Tel. No.:	91-80-27835307/ 40724700/ 40724800
Fax No.:	91-80-7833505
E mail:	gkm@mainimail.com
Factory 3 :	No. 59 and No. 165, IIIrd Cross, Peenya Industrial Estate, Bangalore - 560 001, Karnataka, India
E-Mail :	mpp@maini.com

DIRECTORS

As on 09.08.2011

Name :

Mr. Kewal Krishan Nohria

Designation :

Director

Address :

11, Aryavartha, No. 351, Narayan Dobholkar Marg, Mumbai 400026, Maharashtra, India

Date of Birth/Age :

04.10.1932

Date of Appointment :

26.03.1999

DIN No.:

00060015

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	L74140PN1986PLC041033	KALE CONSULTANTS LIMITED	Director	8/10/1988	8/10/1988	-	Active	NO
2	U24295GA1988PLC000921	CG-PPI ADHESIVE PRODUCTS LIMITED	Director	4/11/1988	4/11/1988	-	Active	NO
3	U74899DL1993PTC051849	ITRON METERING SOLUTIONS INDIA PRIVATE LIMITED	Director	22/01/1993	22/01/1993	29/10/2010	Active	NO
4	L29142TN1992PLC021997	IGARASHI MOTORS INDIA LIMITED	Director	3/07/1993	3/07/1993	-	Active	NO
5	U31404TN1993PTC025779	AGILE CONSUMER ELECTRIC INDIA Private Limited	Director	13/09/1993	13/09/1993	28/03/2011	Active	NO
6	U33112PN1995PTC093837	COLOGICX SYSTEMS PRIVATE LIMITED	Director	14/03/1997	14/03/1997	-	Active	NO
7	U60231KA1984PTC006017	MAINI MATERIALS MOVEMENT PRIVATE LIMITED	Director	21/07/2007	24/09/1998	-	Active	NO
8	U27201KA1972PTC002307	MAINI PRECISION PRODUCTS PRIVATE LIMITED	Director	19/09/2007	26/03/1999	-	Active	NO
9	U72200KA1999PTC033050	COREEL TECHNOLOGIES (INDIA) PRIVATE LIMITED	Director	29/08/2000	29/08/2000	-	Active	NO
10	U74999HR2000PLC035269	GROW TALENT COMPANY LIMITED	Director	9/09/2000	9/09/2000	-	Active	NO
11	U72200DL2001PTC112820	SUKARMA TECHNOLOGIES PRIVATE LIMITED	Director	14/03/2002	14/03/2002	4/08/2008	Active	NO
12	U74899DL2001PTC111383	FONTUS WATER PRIVATE LIMITED	Director	2/01/2003	2/01/2003	-	Active	NO
13	U74899DL2000PTC105715	E A WATER PRIVATE LIMITED	Director	1/07/2003	1/07/2003	-	Active	NO
14	U74999HR2004PLC035286	ACQVIRE TALENT SERVICES LIMITED	Director	14/01/2004	14/01/2004	-	Amalgamated	NO
15	U31102TN2003PTC052057	AGILE ELECTRIC DRIVES TECHNOLOGIES AND HOLDINGS PRIVATE LIMITED	Director	20/05/2004	20/05/2004	-	Active	NO
16	U74899DL2000PTC103848	NET HOLDINGS PRIVATE LIMITED	Director	15/06/2004	15/06/2004	-	Active	NO
17	U29299MH1964PLC013087	C.T.R. MANUFACTURING INDUSTRIES LIMITED	Director	15/07/2004	15/07/2004	-	Active	NO
18	U31102TN2004PTC054140	AGILE ELECTRIC TECHNOLOGIES PRIVATE LIMITED	Director	26/09/2008	19/01/2005	-	Amalgamated	NO
19	U85110MH2001PTC132960	TANCLEAN PRIVATE LIMITED	Director	1/04/2005	1/04/2005	31/07/2008	Active	NO
20	L20200MH1956PLC009899	JOLLY BOARD LIMITED	Director	25/07/2005	25/07/2005	-	Active	NO
21	U51505DL1997PTC089785	AVENTURA COMPONENTS PRIVATE LIMITED	Director	5/10/2005	5/10/2005	-	Active	NO
22	U40100MH2005PTC156964	POWER ENERGY CONSERVATION (INDIA) PRIVATE LIMITED	Director	21/10/2005	21/10/2005	-	Active	NO
23	U51505TN2005PTC057898	IGARASHI MOTORS SALES PRIVATE LIMITED	Director	31/10/2006	31/10/2006	-	Active	NO
24	L99999MH1982PLC026191	PRADEEP METALS LIMITED	Director	5/09/2008	14/04/2008	-	Active	NO
25	U24134MH1986PTC038671	POLYMERMANN (ASIA) PRIVATE LIMITED	Director	18/06/2010	20/11/2009	-	Active	NO
26	U85100DL2009PTC227463	HEALTHPOINT SERVICES INDIA PRIVATE LIMITED	Director	23/09/2011	12/09/2011	-	Active	NO

Name :

Mr. Santosh Senapati

Designation :

Director

Address :

11, 1^st Floor, A Block, Tahee Heights, Pett Hall, 66 Napeansea Road, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

30.07.1962

Date of Appointment :

30.06.2005

DIN No.:

00076219

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	U27201KA1972PTC002307	MAINI PRECISION PRODUCTS PRIVATE LIMITED	Director	30/06/2005	30/06/2005	-	Active	NO
2	U28999KA2001PTC029937	FIREPRO SYSTEMS PRIVATE LIMITED	Nominee director	31/03/2006	31/03/2006	16/12/2011	Active	NO
3	U74140MH2006PTC165284	AIG GLOBAL ASSET MANAGEMENT COMPANY (INDIA) PRIVATE LIMITED	Alternate director	2/03/2007	2/03/2007	14/04/2009	Active	NO
4	U85110KA1987PLC008228	AVASARALA TECHNOLOGIES LIMITED	Director	12/04/2007	12/04/2007	-	Active	NO
5	U85110KA2000PTC027497	NARAYANA HRUDAYALAYA PRIVATE LIMITED	Alternate director	6/02/2008	6/02/2008	-	Active	NO
6	L35912MH1970PLC014819	KINETIC ENGINEERING LIMITED	Director	18/11/2008	14/02/2008	-	Active	NO
7	U67120MH2007PTC173468	PINEBRIDGE INVESTMENTS INDIA ADVISORS PRIVATE LIMITED	Director	24/12/2008	28/02/2008	-	Active	NO
8	U29110MH1990PLC055506	SKIL INFRASTRUCTURE LIMITED	Director	16/09/2011	21/04/2008	-	Active	NO

Name :

Mr. Gautam Kumar Maini

Designation :

Director

Address :

Flat No. 103-104, Silver Crest Apartments No. 13, Rest House Road, Bangalore-560001, Karnataka, India

Date of Birth/Age :

09.11.1967

Date of Appointment :

16.10.1989

DIN No.:

00667616

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	U27201KA1972PTC002307	MAINI PRECISION PRODUCTS PRIVATE LIMITED	Director	19/09/2007	16/10/1989	-	Active	NO
2	U74900KA1991PTC012553	MAINI INDUSTRIES PRIVATE LIMITED	Director	15/11/1996	15/11/1996	1/09/2007	Active	NO
3	U28939KA1998PTC023975	SUDHARSHAN MAINI PRECISION PRODUCTS PRIVATE LIMITED	Director	21/07/1998	21/07/1998	-	Active	NO
4	U72200KA1999PTC024760	MAINI INFOSOLUTIONS PRIVATE LIMITED	Director	15/02/1999	15/02/1999	-	Active	NO
5	U74130KA2000PTC027888	ZERO CONCEPTS MARKETING PRIVATE LIMITED	Director	3/10/2000	3/10/2000	-	Strike off	NO
6	U27109KA2004PTC035007	HAMPSON INDUSTRIES PRIVATE LIMITED	Director	10/11/2004	10/11/2004	3/07/2007	Active	NO
7	U06302KA2005PTC036923	ARMES MAINI STORAGE SYSTEMS PRIVATE LIMITED	Director	8/08/2005	8/08/2005	-	Active	NO
8	U63033KA2008PTC047734	MAINI GLOBAL AEROSPACE PRIVATE LIMITED	Director	10/09/2008	10/09/2008	-	Active	NO
9	U60231KA1984PTC006017	MAINI MATERIALS MOVEMENT PRIVATE LIMITED	Director	21/07/2009	16/10/2008	-	Active	NO
10	U25208KA2009PTC051684	MAINI PLASTICS AND COMPOSITES PRIVATE LIMITED	Director	1/12/2009	1/12/2009	-	Active	NO
11	U34101KA1996PTC020195	MAHINDRA REVA ELECTRIC VEHICLES PRIVATE LIMITED	Director	17/09/2010	26/07/2010	24/10/2011	Active	NO
12	U34200KA2011PTC058946	TOMCAR INDIA PRIVATE LIMITED	Director	2/06/2011	2/06/2011	-	Active	NO
13	U29253KA2011PTC059239	ALL TERRAIN SOLUTIONS PRIVATE LIMITED	Director	21/06/2011	21/06/2011	-	Active	NO

Name :

Mr. Sandeep Kumar Maini

Designation :

Director

Address :

G-101, Lyndhurst, No. 3, Walton Road, Museum Road, Cobbon Park, Bangalore-560001, Karnataka, India.

Date of Birth/Age :

30.07.1962

Date of Appointment :

19.09.2007

DIN No.:

01568787

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	U60231KA1984PTC006017	MAINI MATERIALS MOVEMENT PRIVATE LIMITED	Managing director	21/07/2007	27/03/1993	-	Active	NO
2	U27310KA1994PTC016518	HENSAL INDIA PRIVATE LIMITED	Director	8/11/1994	8/11/1994	-	Active	NO
3	U74900KA1991PTC012553	MAINI INDUSTRIES PRIVATE LIMITED	Director	19/03/1997	19/03/1997	1/09/2007	Active	NO
4	U74130KA2000PTC027888	ZERO CONCEPTS MARKETING PRIVATE LIMITED	Director	3/10/2000	3/10/2000	-	Strike off	NO
5	U93090KA2001NPL028969	YPO BANGALORE CHAPTER	Director	2/05/2001	2/05/2001	-	Active	NO
6	U06302KA2005PTC036923	ARMES MAINI STORAGE SYSTEMS PRIVATE LIMITED	Managing director	8/08/2005	8/08/2005	-	Active	NO
7	U34101KA1996PTC020195	MAHINDRA REVA ELECTRIC VEHICLES PRIVATE LIMITED	Director	26/05/2010	2/12/2006	24/10/2011	Active	NO
8	U27201KA1972PTC002307	MAINI PRECISION PRODUCTS PRIVATE LIMITED	Director	19/09/2007	19/09/2007	-	Active	NO
9	U63033KA2008PTC047734	MAINI GLOBAL AEROSPACE PRIVATE LIMITED	Director	10/09/2008	10/09/2008	-	Active	NO
10	U25208KA2009PTC051684	MAINI PLASTICS AND COMPOSITES PRIVATE LIMITED	Director	1/12/2009	1/12/2009	-	Active	NO
11	U34200KA2011PTC058946	TOMCAR INDIA PRIVATE LIMITED	Director	2/06/2011	2/06/2011	-	Active	NO
12	U29253KA2011PTC059239	ALL TERRAIN SOLUTIONS PRIVATE LIMITED	Director	21/06/2011	21/06/2011	-	Active	NO

Name :

Dr. Sudarshan Kumar Maini

Designation :

Director

Address :

No. 38, Maini Sadan, 7th cross, Lavelle Road, Bangalore-560001, Karnataka, India

Date of Birth/Age :

29.06.1933

Date of Appointment :

03.03.1973

DIN No.:

01567044

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	U27201KA1972PTC002307	MAINI PRECISION PRODUCTS PRIVATE LIMITED	Director	19/09/2007	3/03/1972	-	Active	NO
2	U28991KA1978PTC003388	STELFAST PRIVATE LIMITED	Director	7/10/1978	7/10/1978	-	Strike off	NO
3	U60231KA1984PTC006017	MAINI MATERIALS MOVEMENT PRIVATE LIMITED	Director	21/07/2007	11/04/1984	16/10/2008	Active	NO
4	U85110KA1988PTC009007	ABEGG GRANITE SERVICE PRIVATE LIMITED	Director	5/04/1988	5/04/1988	-	Strike off	NO
5	U74900KA1991PTC012553	MAINI INDUSTRIES PRIVATE LIMITED	Director	29/11/1991	29/11/1991	1/09/2007	Active	NO
6	U24246KA1993PTC014033	DOUBLE CLEAN BIOTEC PRIVATE LIMITED	Director	23/02/1993	23/02/1993	-	Strike off	NO
7	U34101KA1996PTC020195	MAHINDRA REVA ELECTRIC VEHICLES PRIVATE LIMITED	Director	2/04/1996	2/04/1996	7/06/2008	Active	NO
8	U28939KA1998PTC023975	SUDHARSHAN MAINI PRECISION PRODUCTS PRIVATE LIMITED	Director	21/07/1998	21/07/1998	-	Active	NO
9	U72200KA1999PTC024760	MAINI INFOSOLUTIONS PRIVATE LIMITED	Director	15/02/1999	15/02/1999	-	Active	NO
10	U74130KA2000PTC027888	ZERO CONCEPTS MARKETING PRIVATE LIMITED	Director	3/10/2000	3/10/2000	-	Strike off	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 09.08.2011

Names of Shareholders	No. of Shares
Sudarshan Kumar Maini	51685
Reva Maini	4662
Sandeep Kumar Maini	16572
Gautam Maini	16573
Chetan Kumar Maini	16572
Vipeen Sareen	1393
MPP Employees Welfare Trust, Bangalore, India represented by its Trustees Mr. Sudarshan Kumar Maini, Mrs. Reva Maini and Mr. Gautam Kumar Maini	2147
Ambadevi Mauritus Holings Limited, Portlouis	38361
Total	147965

Equity Share Break up (Percentage of Total Equity)

As on 09.08.2011

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	25.93
Bodies corporate	1.45
Directors or relatives of Directors	72.62
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing and Exporting of precision products, engineering parts, automobile parts, castings parts, auto spare parts and components.

Products :

PRODUCT DESCRIPTION	ITC CODE NO.
Automotive Components	870390

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· ING Vysya Bank Limited, 22 Ground Floor, IMG Vysya House, M. G. Road Branch, Bangalore 560001, Karnataka, India

· The Hong Kong and Shanghai Banking Corporation Limited, 7 M. G. Road, Bangalore 560001, Karnataka, India

· State Bank of India

· ICICI Bank

· HDFC Bank

· Canara Bank, Overseas Branch, Ramanashree Arcade, Big Kids Kemp, M.G. Road, III Floor, Bangalore-560001, Karnataka, India

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Rupee term loans banks secured	43.861	0.000
Working capital loans banks secured	442.123	429.442
Loans taken for vehicles secured	0.458	0.903
Total	486.442	430.345
Unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Loans subsidiaries unsecured	0.000	10.051
Loans directors unsecured	0.000	2.526
Other debt unsecured	0.000	37.500
Total	0.000	50.077

Banking Relations :	--
Auditors :
Name :	Walker and Chandiok and Company Chartered Accountants
Address :	Wings, 1^st Floor, 16/1, Cambridge Road, Halasuru, Bengaluru-560008, Karnataka, India.
Tel. No.:	91-80-42430700
Fax No.:	91-80-41261228
E-Mail :	bengaluru@wcgt.in
PAN.:	AAAFW4298E
Subsidiaries :	Maini Global Aerospace Private Limited (U63033KA2008PTC047734)

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
150000	Equity Shares	Rs.100/- each	Rs.15.000 Millions
50000	Preference Shares	Rs.100/- each	Rs.5.000 Millions
	TOTAL		Rs.20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
147965	Equity Shares	Rs.100/- each	Rs.14.796 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		14.796	14.796	14.797
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		389.167	333.303	315.574
4] (Accumulated Losses)		0.000	0.000	(107.528)
NETWORTH		403.963	348.099	222.843
LOAN FUNDS
1] Secured Loans		486.442	430.345	495.297
2] Unsecured Loans		0.000	50.077	0.000
TOTAL BORROWING		486.442	480.422	495.297
DEFERRED TAX LIABILITIES		17.058	0.000	58.852
TOTAL		907.463	828.521	776.992
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		464.883	469.075	525.669
Capital work-in-progress		8.403	0.000	6.024
INVESTMENT		8.563	8.563	111.523
DEFERREX TAX ASSETS		0.000	1.459	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	302.668	291.705	322.273
	Sundry Debtors	335.990	266.349	234.236
	Cash & Bank Balances	12.206	12.353	10.173
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	122.577	78.763	91.412
Total Current Assets		773.441	649.170	658.094
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	273.755	196.675	187.259
	Other Current Liabilities	12.577	59.838	301.606
	Provisions	61.495	43.233	28.653
Total Current Liabilities		347.827	299.746	517.518
Net Current Assets		425.614	349.424	133.776
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		907.463	828.521	776.992

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	1845.349	1648.847	1644.005
		Other Income
		TOTAL	1845.349	1648.847	1644.005
Less	EXPENSES
		Office Expenses
		Administrative Expenses	1675.598	1503.230	1609.948
		Advertising Expenses
		Financial Expenses
		TOTAL	1675.598	1503.230	1609.948
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		169.751	145.617	34.057
Less/ Add	DEPRECIATION/ AMORTISATION		71.649	73.057	73.251
	PROFIT/ (LOSS) BEFORE TAX		98.102	72.560	(39.194)
Less	TAX		42.239	(52.697)	41.949
	PROFIT/ (LOSS) AFTER TAX		55.864	125.257	(81.143)
	EARNINGS IN FOREIGN CURRENCY		NA	600.368	987.347
	IMPORTS
		Raw Materials	NA	30.081	77.299
		Stores & Spares	NA	6.753	11.247
		Capital Goods	NA	3.984	1.987
	TOTAL IMPORTS		NA	40.818	90.533
	Earnings/ (Loss) Per Share (Rs.)		377.55	846.53	(373.38)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	3.03	7.60	(4.94)
Return on Total Assets (PBT/Total Assets}	(%)	7.92	6.49	(3.31)
Return on Investment (ROI) (PBT/Networth)		0.24	0.21	(0.18)
Debt Equity Ratio (Total Liability/Networth)		2.06	2.24	4.54
Current Ratio (Current Asset/Current Liability)		2.22	2.17	1.27

LOCAL AGENCY FURTHER INFORMATION

BACKGROUND

Subject was incorporated on 3 March 1973 with its registered office in Bangalore, India. The Company is a manufacturer of precision products including transmission parts, engine parts, hydraulic truck parts, shafts and axels, assemblies, filters, hand primer and plastic parts. The Company also undertakes machining and job works for its customers. Functionally, the operations of the Company are divided into two segments Automotive products and Aerospace products.

COMPANY PERFORMANCE:

The Gross Sales and Other Income for the financial year were Rs.1845.349 Millions as against Rs.1648.847 Millions for the previous year registering an increase of 12%. The profit before tax of Rs.98.052 Millions and profit after tax of Rs.87.546 Millions for the financial as against Rs.72.560 Millions and Rs.125.257 Millions respectively for the previous year, improved by 35% and decreased by 30% respectively.

YEAR IN RETROSPECT AND OUTLOOK:

The Company witnessed a strong pullback in its core business of Auto on the back of all round recovery from the post 2008 financial crisis with strong growth in Indian Markets. The outlook is positive and the company has a strong order book.

The Company views the Aerospace sector as its future growth engine and has signed MOUs with most of the aero majors and their tier 1 suppliers. India is emerging as an important supplier base to the Aerospace industry and defence offset is an important driver. The Company has first mover advantage and looks to double its turnover in the next year.

Bankers Charges Report as per Registry

Corporate identity number of the company	U27201KA1972PTC002307
Name of the company	MAINI PRECISION PRODUCTS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	B-165, 3rd Cross, 1st Stage, Peenya Industrial Estate, Bangalore – 560058, Karnataka, India Email : pkpande1@gmail.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10157681
Type of charge	Immovable property
Particular of charge holder	ING Vysya Bank Limited, 22 Ground Floor, IMG Vysya House, M. G. Road Branch, Bangalore 560001, Karnataka, India Email : giridharvvrn@ingvysyabank.com
Nature of instrument creating charge	Mortgage by deposit of title deeds
Date of instrument Creating the charge	05.07.2011
Amount secured by the charge	Rs.315.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest No Change Terms of Repayment No Change Margin No Change Extent and Operation of the charge First charge on the immovable property of the company on pari passu basis along with ICICI Bank Limited
Short particulars of the property or asset(s) charged (including complete address and location of the property)	All the immovable properties
Particulars of the present modification	There is no change in the limit of Rs.315.000 Millions. The limit has been additionally secured by the immovable property of the company. All other terms and conditions are remain same

FIXED ASSETS

Tangible Assets

v Freehold Land

v Buildings

v Plant And Machinery

v Furniture And Fixtures

v Office Equipments

v Computer

v Research And Development

v Vehicles

Intangible Assets

v 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.51.05
UK Pound	1	Rs.81.09
Euro	1	Rs.67.39

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	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	4
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		43

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.