MIRA INFORM REPORT

Report Date :

19.04.2012

IDENTIFICATION DETAILS

Name :	DEE DEVELOPMENT ENGINEERS LIMITED (w.e.f. 08.01.1998)
Formerly Known as:	DE DEVELOPMENT ENGINEERS LIMITED
Registered Office :	1255, Sector-14, Faridabad-121007, Haryana
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	21.03.1988
Com. Reg. No.:	05-30225
Capital Investment / Paid-up Capital :	Rs.172.502 Millions
CIN No.: [Company Identification No.]	U74140HR1988PTC030225
IEC No.:	0597021163
PAN No.: [Permanent Account No.]	AACCD02074
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Piping Systems and Pipe Fittings.
No. of Employees :	1015 (Office 250, Factory 750, In Branches - 15)

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 4279672
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are 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 – June 30, 2010

Country Name	Previous Rating (01.04.2010)	Current Rating (30.06.2010)
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 :	1255, Sector-14, Faridabad-121002, Haryana, India
Tel. No.:	91-1275-248200 / 260 / 205 / 207
Fax No.:	91-1275-262085
E-Mail :	info@addel.net customercare@addel.net akjha@ddel.net
Website :	http://www.deedevelopment.com
Area :	Owned
Corporate Office :	Plot No.5327 and 6412, Prithla, Tatarpur Road, Tatarpur Village, Tehsil Pal Wal-121002, Faridabad, India
Area :	Owned
Factory :	Village Tarapur, Tehsil Pal Wal, District Palwal-121102, Haryana, India
Tel. No.:	91-1275-248200
Fax No.:	91-1725-262085

DIRECTORS

AS ON 30.09.2011

Name :	Mr. Lajwant Rai
Designation :	Director
Address :	H. No. -531, Sector -28, Faridabad-121002, Haryana, India
Qualification :	B. Tech
Date of Appointment :	25.03.1988
DIN :	01050702

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	U74140HR1988PLC030225	DEE DEVELOPMENT ENGINEERS LIMITED	Director	25/03/1988	25/03/1988	01/01/2011	Active	NO
2	U40107DL2002PTC113715	MALWA POWER PRIVATE LIMITED	Director	07/01/2002	07/01/2002	-	Active	NO

Name :	Mr. Krishan Lalit Bansal
Designation :	Director
Address :	H No. 1255, Sector- 14, Faridabad-121002, Haryana, India
Date of Birth/Age :	22.04.1955
Qualification :	B. Tech
Date of Appointment :	25.03.1988
DIN :	01125121

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	U74140HR1988PLC030225	DEE DEVELOPMENT ENGINEERS LIMITED	Managing director	21/03/1988	21/03/1988	-	Active	NO
2	U40107DL2002PTC113715	MALWA POWER PRIVATE LIMITED	Managing director	11/09/2007	07/01/2002	-	Active	NO
3	U40300HR2009PTC039432	DDE POWER SYSTEMS PRIVATE LIMITED	Director	03/09/2009	03/09/2009	-	Active	NO
4	U28932HR2009PTC039433	DDE PIPING COMPONENTS PRIVATE LIMITED	Director	04/09/2009	04/09/2009	-	Active	NO
5	U40300HR2009PTC039710	DDE RENEWABLE ENERGY PRIVATE LIMITED	Director	17/11/2009	17/11/2009	-	Active	NO
6	U70102AP2008PTC061269	THALASSA PROPERTIES PRIVATE LIMITED	Director	11/07/2010	11/07/2010	12/09/2010	Active	NO
7	U40107HR2010PTC041183	DDE GREEN ENERGY PRIVATE LIMITED	Director	09/09/2010	09/09/2010	01/10/2010	Active	NO

Name :	Ms. Ashima Bansal
Designation :	Director
Address :	H No. 1255, Sector- 14, Faridabad-121002, Haryana, India
Date of Birth/Age :	04.09.1954
Qualification :	BA, MA
Date of Appointment :	30.04.2007
DIN :	01928449

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	U31200DL1998PTC092598	PSM ENGINEERS PRIVATE LIMITED	Director	06/03/1998	06/03/1998	-	Active	NO
2	U74140HR1988PLC030225	DEE DEVELOPMENT ENGINEERS LIMITED	Whole-time director	01/04/2010	30/04/2007	-	Active	NO
3	U40107DL2002PTC113715	MALWA POWER PRIVATE LIMITED	Additional director	11/09/2007	11/09/2007	-	Active	NO
4	U40300HR2009PTC039432	DDE POWER SYSTEMS PRIVATE LIMITED	Director	03/09/2009	03/09/2009	-	Active	NO

Name :	Ms. Jyoti Rai
Designation :	Director
Address :	H. No. 581, Secotr -28, Faridabad-121002, Haryana, India
Date of Birth/Age :	24.06.1958
Qualification :	BA, MA
Date of Appointment :	02.06.2008
DIN :	01050713

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	U31200DL1998PTC092598	PSM ENGINEERS PRIVATE LIMITED	Director	06/03/1998	06/03/1998	31/12/2010	Active	NO
2	U74140HR1988PLC030225	DEE DEVELOPMENT ENGINEERS LIMITED	Director	30/04/2007	30/04/2007	01/01/2011	Active	NO
3	U40107DL2002PTC113715	MALWA POWER PRIVATE LIMITED	Additional director	11/09/2007	11/09/2007	01/01/2011	Active	NO

Name :	Mr. Atul Krishan Bansal.
Designation :	Director
Address :	1255, Sector-14, Faridabad-121007, Haryana, India
Date of Birth/Age :	26 Years
Qualification :	B. Tech
Date of Appointment :	02.06.2008
DIN :	02216008

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	U74140HR1988PLC030225	DEE DEVELOPMENT ENGINEERS LIMITED	Whole-time director	02/06/2008	02/06/2008	-	Active	NO
2	U40300HR2009PTC039432	DDE POWER SYSTEMS PRIVATE LIMITED	Director	03/09/2009	03/09/2009	-	Active	NO
3	U28932HR2009PTC039433	DDE PIPING COMPONENTS PRIVATE LIMITED	Director	04/09/2009	04/09/2009	-	Active	NO
4	U40300HR2009PTC039710	DDE RENEWABLE ENERGY PRIVATE LIMITED	Director	17/11/2009	17/11/2009	30/03/2011	Active	NO
5	U70102AP2008PTC061269	THALASSA PROPERTIES PRIVATE LIMITED	Director	11/07/2010	11/07/2010	12/09/2010	Active	NO
6	U40107HR2010PTC041183	DDE GREEN ENERGY PRIVATE LIMITED	Director	09/09/2010	09/09/2010	01/10/2010	Active	NO

Name :	Mr. Sanjiv Singhal
Designation :	Director
Address :	1A, Firpose, 47A, Bhulabhai Desai Road, Breach Candy, Mumbai – 400026, Maharashtra, India
Date of Birth/Age :	23.03.1967
Date of Appointment :	25.02.2011
DIN :	02408616

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	U25209MH1999PLC119427	AXIOM CORDAGES LIMITED	Nominee director	03/12/2008	03/12/2008	-	Active	NO
2	U30000MH1995PLC091944	TRIMAX IT INFRASTRUCTURE & SERVICES LIMITED	Nominee director	04/04/2009	04/04/2009	-	Active	NO
3	L28112MP1993PLC008029	GEI INDUSTRIAL SYSTEMS LIMITED	Nominee director	30/10/2009	30/10/2009	-	Active	NO
4	U28991PB1990PLC010832	DEEPAK FASTENERS LIMITED	Director	30/09/2010	11/06/2010	-	Active	NO
5	U74140HR1988PLC030225	DEE DEVELOPMENT ENGINEERS LIMITED	Nominee director	30/09/2011	25/02/2011	-	Active	NO
6	U45201MP2006PLC018689	DILIP BUILDCON LIMITED	Nominee director	14/02/2012	14/02/2012	31/03/2012	Active	NO

Name :	Mr. Samir Kumar Ganguli
Designation :	Director
Address :	B-37B, Gangotri Enclave, Alaknanda, New Delhi – 110009, Delhi, India
Date of Birth/Age :	21.12.1938
Date of Appointment :	05.09.2011
DIN :	00058198

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	U40107DL2002PTC113715	MALWA POWER PRIVATE LIMITED	Nominee director	13/07/2004	13/07/2004	-	Active	NO
2	L24231UP1936PLC000740	SIMBHAOLI SUGARS LIMITED	Director	30/09/2004	30/09/2004	-	Active	NO
3	U74899DL1988PTC032831	MANGALAM ENERGY DEVELOPMENT COMPANY PVT LTD	Nominee director	22/10/2005	22/10/2005	04/03/2011	Active	NO
4	U40109AP2002PTC039580	HIM KAILASH HYDRO POWER PRIVATE LIMITED	Nominee director	11/11/2005	11/11/2005	-	Active	NO
5	L24110AP1981PLC003077	SREE RAYALASEEMA ALKALIES AND ALLIED CHEMICALS LTD	Nominee director	19/05/2007	19/05/2007	-	Active	NO
6	U45206DL2003PTC119207	SIRI RAM SYAL HYDRO POWER PRIVATE LIMITED	Nominee director	18/06/2007	18/06/2007	-	Active	NO
7	L65910DL1989PLC034812	TOURISM FINANCE CORPORATION OF INDIA LIMITED	Director	16/05/2011	16/05/2011	-	Active	NO
8	U74140HR1988PLC030225	DEE DEVELOPMENT ENGINEERS LIMITED	Director	30/09/2011	05/09/2011	-	Active	NO

Name :	Mr. Dalip Singh Sidhu
Designation :	Director
Address :	1170, Sector 28, Faridabad – 121002, Haryana, India
Date of Birth/Age :	01.04.1947
Date of Appointment :	21.03.1988
Date of Ceasing :	01.01.2011

KEY EXECUTIVES

Name :	Mr. Krishna Lal Agarwal
Designation :	Company Secretary
Address :	SJ-43, Shastri Nagar, Ghaziabad, uttar Pradesh, India
Date of Birth/Age :	16.09.1942
Date of Appointment :	01.02.2010
Date of Ceasing :	01.02.2011
Name :	Mr. Ranjan Kumar Sarangi
Designation :	Director
Address :	A-68/L, Saraswati Apartment, New Colony, Patwal – 121102
Date of Birth/Age :	04.07.1974
Date of Appointment :	14.02.2011

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders	No. of Shares
Krishan Lalit Bansal	8332093
Loomba Kamlesh	660
Ashima Bansal	880000
Atul Bansal	293326
Shikha Bansal	100
Charu Aggarwal	10
DDE Piping Components Private Limited, Haryana	1493811
BanyanTree Growth Capital LLC, Louis	100
Capvent India Private Equity Found Limited, Haryana	100
Total	11000200

PREFERENCE SHARES AS ON 30.09.2011

Names of Shareholders	No. of Shares
BanyanTree Growth Capital LLC, Louis	4625000
Capvent India Private Equity Found Limited, Haryana	1625000
Total	6250000

AS ON 30.09.2011

Category	Percentage
Directors or relatives of directors	86.41
Bodies Corporate	13.58
Other top fifty shareholders	0.01
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Piping Systems and Pipe Fittings.
Products :	· Pre Fabricated Piping Systems · Submerged Arc Welded Pipes · Pressure Vessels · Piping Manifolds and Steam Headers · Steam Separators · IBD, CBD Tanks · Desuper Heater Vessels · Boiler Components · Sample Coolers · Super Heater Coils · Boiler Tubes · Pipe Suppoerts

GENERAL INFORMATION

No. of Employees :

1015 (Office 250, Factory 750, In Branches - 15)

Bankers :

Bank of India, SCF – 8, DLF Market, Sector 11D, Faridabad-121006, Haryana, India

Facilities :

Secured Loan	31.03.2011 [Rs. in million]	31.03.2010 [Rs. in million]
Rupee term loans banks secured	704.145	604.687
Working capital loans banks secured	697.836	500.395
Total	1401.981	1105.082
Unsecured Loan [Rs. in million]	31.03.2011 [Rs. in million]	31.03.2010 [Rs. in million]
Rupee term loans banks unsecured	25.691	66.488
Rupee term loans others unsecured	0.00	90.762
Total	25.691	157.250

Banking Relations :	--
Auditors :
Name :	V Kumar And S Kumar Chartered Accountant
Address :	306, Neelgiri Apartments, 3^rd Floor, Bara KHamba Road, New Delhi-110001, India
Associates :	Malwa Power Private Limited Address : Village, Gulabewala, Muksar, India. Line of Business : Power Plant.

CAPITAL STRUCTURE

AS ON 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
18750000	Equity Shares	Rs. 10/- each	Rs.187.500 Millions
6250000	Preference Shares	Rs. 10/- each	Rs.62.500.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
11000200	Equity Shares	Rs. 10/- each	Rs. 110.002 Millions
6250000	Preference Shares	Rs. 10/- each	Rs.62.500 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		172.502	110.000	110.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		897.416	420.822	264.025
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1069.918	530.822	374.025
LOAN FUNDS
1] Secured Loans		1401.981	1105.083	785.087
2] Unsecured Loans		25.691	157.250	128.913
TOTAL BORROWING		1427.672	1262.332	914.000
DEFERRED TAX LIABILITIES		22.042	25.293	36.664
TOTAL		2519.632	1818.448	1324.689
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1384.152	1165.842	721.897
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		26.629	26.629	26.629
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	828.946	384.577	360.954
	Sundry Debtors	647.302	516.608	424.845
	Cash & Bank Balances	98.454	34.677	32.079
	Other Current Assets	10.718	2.923	2.131
	Loans & Advances	190.520	78.986	55.907
Total Current Assets		1775.940	1017.771	875.916
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry creditors	511.571	345.681	75.230
	Current Liabilities	159.506	25.078	211.426
	Provisions	10.176	21.440	13.552
Total Current Liabilities		681.253	392.199	300.208
Net Current Assets		1094.687	625.572	575.708
MISCELLANEOUS EXPENSES		14.164	0.405	0.455
TOTAL		2519.632	1818.448	1324.689

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	2248.452	1930.449	1521.188
		Other Income	10.718	4.012	3.463
		TOTAL (A)	2259.170	1934.461	1524.651
Less	EXPENSES
		Consumption materials changes inventories	1334.393	1197.122	1044.719
		Increase decrease in inventories	0.000	0.000	(38.453)
		Employee related expenses	122.334	106.708	64.011
		Administrative selling other expenses	392.823	314.188	12.913
		Extraordinary items before tax	149.767	0.000
		TOTAL (B)	1999.317	1618.018	1304.637
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		259.853	316.443	220.014
Less	FINANCIAL EXPENSES (D)		157.576	105.189	65.229
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		102.277	211.254	154.785
Less/ Add	DEPRECIATION/ AMORTISATION (F)		63.999	44.965	26.529
	PROFIT BEFORE TAX (E-F) (G)		38.278	166.289	128.256
Less	TAX (I)		(3.250)	8.629	52.664
	PROFIT AFTER TAX (G-I) (J)		41.528	157.660	75.592
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		NA	5.454	5.963
	INCOME TAX PAID OF EARLIER YEAR		NA	0.863	0.000
	EXCESS INCOME TAX PROVISION OF EARLIER YEAR WRITTEN BACK		NA	0.000	3.899
Less	APPROPRIATIONS
		Transfer to General Reserve	NA	160.000	80.000
	BALANCE CARRIED TO THE B/S		1.328	2.251	5.454
	EARNINGS IN FOREIGN CURRENCY
		FOB Value of Export	595.400	565.147	377.846
	TOTAL EARNINGS		595.400	565.147	377.846
	IMPORTS
		Raw Materials	NA	173.688	216.556
		Stores & Spares	NA	1.986	1.753
		Capital Goods	NA	20.691	47.774
	TOTAL IMPORTS		NA	196.365	266.083
	Earnings Per Share (Rs.)		3.781	4.33	6.87

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.84	8.15	4.96
Net Profit Margin (PBT/Sales)	(%)	1.70	8.61	8.43
Return on Total Assets (PBT/Total Assets}	(%)	1.21	7.62	8.03
Return on Investment (ROI) (PBT/Networth)		0.04	0.31	0.34
Debt Equity Ratio (Total Liability/Networth)		1.97	3.12	3.25
Current Ratio (Current Asset/Current Liability)		2.61	2.59	2.92

LOCAL AGENCY FURTHER INFORMATION

COMPANY PERFORMANCE

There is an overall improvement and growth in business of the Company during the year. The Gross turnover of the company during the year was Rs.2368.785 Millions (Previous Year Rs.2004.221 Millions) i.e. an increase of 18% over the previous year. The net profit of the Company before exceptional item was Rs. 188.044 Millions (Previous Year Rs. 166.289 Millions). However due to an exceptional item of export claim amounting Rs.149.700 Millions as explained in their report net profits of the company reduced further.

Check List by Info Agents	Available in Report (Yes / No)
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	Yes
8) No. of employees	Yes
9) Name of person contacted	No
10) Designation of contact person	No
11) Turnover of firm for last three years	Yes
12) Profitability for last three years	Yes
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	No
15) Capital in the business	Yes
16) Details of sister concerns	Yes
17) Major suppliers	No
18) Major customers	No
19) Payments terms	No
20) Export / Import details (if applicable)	--
21) Market information	--
22) Litigations that the firm / promoter involved in	--
23) Banking Details	Yes
24) Banking facility details	Yes
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	Yes
28) Incorporation details, if applicable	Yes
29) Last accounts filed at ROC	Yes
30) Major Shareholders, if available	Yes

Bankers Charges Report as per Registry

Corporate identity number of the company	U74140HR1988PLC030225
Name of the company	DEE DEVELOPMENT ENGINEERS LIMITED
Address of the registered office or of the principal place of business in India of the company	1255, Sec-14, Faridabad, Haryana - 121002, Haryana, India
This form is for	Modification of charge
Type of charge	Book Debts Movable Property Immovable Property
Particular of charge holder	Bank of India
Nature of instrument creating charge	Supplemental Agreement for hypothecation of Tangible movable property stocks: dated 16.02.2012.
Date of instrument Creating the charge	16.02.2012
Amount secured by the charge	Rs.1977.800 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest On term loans @4% over Base rate presently 14.75% p.a. On w.capital facilities - 3.5% over Base rate presently 14.25% p.a. On adhoc limit - 5% over Base rate presently 15.75% p.a. Terms of Repayment Existing Term loans to be repaid as per principal agreement. Working capital limits payable on demand. Renewable every year. Margin Term loan - 25%, Stocks - 25%, Book debts upto 90 days - 25%, Book Debts beyond 90 days upto 120 days - 33%. On LC - 10% (TDR), On BG - 15% (TDR) Extent and Operation of the charge 1st Pari Passu charge on the current assets of the piping unit of co. for WCFBL of Rs.50 Corers with Bank of India and WCFBL of Rs.19 Corers with PNB. Exclusive charge by way of EQM over the co. properties situated at Plant I, II and at Gaddadhob, Teshil Abohar Punjab and Ist Pari Passu charge on Indl Plot at Jatola Road Tatarpur, Palwal. First charge over entire Net Block of the company excluding amount of T/L for which our Bank has exclusive Charge to secure limits aggregating Rs.1977.800 Millionss.
Short particulars of the property charged	Stocks, Book Debts of the company. Plant and Machinery of the company including assets to be purchased out of the proposed capital expenditure other than the assets charged to IREDA. Hypothecation of cars purchased under vehicle loans. Equitable mortgage of various properties as described in the Oral assent being Plant No. I, Tartarpur Road, Village Tartarpur, Tehsil Distt. Palwal measuring 62 kanals 14 marlas Plant No. II, Tatarpur Road, Village Tatarpur, Tehsil Distt. Palwal measuring 103 kanals 02 marlas, Land & Building situated at Village Gaddadhob Tehsil Abohar Distt Firozpur Punjab measuring 163.25 kanals. Industrial Plot at Jatola Road, Tatarpur Industrial Area, Maidapur, measuring 1770 sq. yards Tehsil and Distt. Palwal.
Particulars of the present modification	The limits granted to the company stand enhanced to Rs.1977.800 millions comprising of TL-III Rs.12.500 millions., TL-IV Rs.322.900 millions., TL-V Rs.137.400 millions., TL for 8 MW Power Plant Rs.205.000 millions., W. Capital piping unit CC/EPC/PCFC/FBD/ FCBD(DP/DA 120 days) Rs.500.000 millions. and Suppliers credit Rs.100.000 millions Max. Rs.500.000 millions w. capital limits for 8 MW power plant Rs.75.000 millions Non fund based limits - LC Rs.250.000 millions, BG Rs.400.000 millions Total Rs.650.000 millions and Adhoc limit Rs.75.000 millions Other terms and conditions remain the same.

Corporate identity number of the company	U74140HR1988PLC030225
Name of the company	DEE DEVELOPMENT ENGINEERS LIMITED
Address of the registered office or of the principal place of business in India of the company	1255, Sec-14, Faridabad, Haryana - 121002, Haryana India
This form is for	Creation of Charge
Type of charge	Movable Property
Particular of charge holder	Bank of India, SCF – 8, DLF Market, Sector 11D, Faridabad-121006, Haryana, India
Nature of instrument creating charge	Agreement of Hypothecation for Consumer Loan in respect of Vehicles Dt.14/03/2011
Date of instrument Creating the charge	14.03.2011
Amount secured by the charge	Rs.1.122 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest - Rate of Interest : @ 3% over base rate with minimum @ 12.50% p.a on monthly rests subject to change linked with base rate/ RBI Guidelines Penal Interest : @ 2% over and above the normal rate. Terms of Repayment - Repayable in 36 monthly installments of Rs 0.037 million w.e.f 14/04/2011 and till the loan is adjusted in full. Margin - As per Agreement Extent and Operation of the charge - Hypothecation of New Toyota Altis VL Car.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Hypothecation of New Toyota Altis VL Car.

Fixed Assets:

· Plant and Machinery

· Testing Machines

· Furniture and Fixture

· Office Equipments

· Vehicles

· Electrical Installation Fittings

· Computer and Software

· Cooling Systems

· Photocopier

· FTY. Building

· Generator

· Crane and Hydra

· Tatarpur Land Land Power Division Tatarpur Building

· Dye Forging

· Hydraulic Press

· Pipe Bending machine

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.51.50
UK Pound	1	Rs.81.98
Euro	1	Rs.67.54

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	6
--LIQUIDITY	1~10	5
--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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		48

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.