MIRA INFORM REPORT

Report Date :

23.04.2012

IDENTIFICATION DETAILS

Name :	CHOWGULE AND COMPANY PRIVATE LIMITED (w.e.f 21.11.2006)
Formerly Known As:	CHOWGULE AND COMPANY LIMITED
Registered Office :	Chowgule House, Mormugao Harbour, Goa – 403 803
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	24.06.1965
Com. Reg. No.:	24-000041
Capital Investment / Paid-up Capital :	Rs.50.042 Millions
CIN No.: [Company Identification No.]	U63031GA1965PTC000041
Legal Form :	Private Limited Liability Company
Line of Business :	Mining, Beneficiation and Export of Iron Ore, Shipbuilding and Manufacture of Industrial Salt
No. of Employees :	3000 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Aa (72)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 76900000
Status :	Excellent
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a part of Chowgule Group, a well known industrial house of Goa. It is a well established and reputed company having excellent track. Financial position of the company appears to be sound. 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 – 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 :	Chowgule House, Mormugao Harbour, Goa – 403 803, India
Tel. No.:	91-832-2521010/ 2525061/ 2525000/ 2525004
Fax No.:	91-832-2521011
E-Mail :	ccl@chowgule.co.in
Website :	www.chowgule.co.in
Ship Yard :	Near Borim bridge, Loutlim – 403718, Goa, India
Tel. No.:	91-832-2777010/2777343/34/639/638
Fax No.:	91-832-2858058
E-Mail :	ccl@goatelecom.com, cclsbd@sancharnet.in
Mumbai Office :	4^th Floor, Bhaktawar, Nariman Point, Mumbai – 400021, Maharashtra, India
Tel. No.:	91-22-66202500

DIRECTORS

As on 29.08.2011

Name :

Mr. Vijay Vishwasrao Chowgule

Designation :

Chairman cum Managing Director

Address :

Chowgule Bunglow, House No 189-A, Baina, Vasco-Da-Gama, South Goa , Goa – 403802, India

Date of Birth/Age :

22.08.1946

Date of Appointment :

16.08.1974

DIN No.:

00018903

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	U36991GA1965PTC000028	CARTYBON PRIVATE LIMITED	Director	18-06-74	18-06-74	-	Active	NO
2	U63031GA1965PTC000041	CHOWGULE AND COMPANY PRIVATE LIMITED	Managing director	16-08-74	16-08-74	-	Active	NO
3	U24111GA1965PTC000198	KOLHAPUR OXYGEN AND ACETYLENE PRIVATE LIMITED	Director	15-06-84	15-06-84	-	Active	NO
4	U99999MH1977PLC019836	KELTECH ENERGIES LIMITED	Director	15-01-88	15-01-88	-	Not Available for eFiling	NO
5	L63090GA1963PLC000002	CHOWGULE STEAMSHIPS LIMITED	Director	23-09-91	23-09-91	-	Active	NO
6	U51228MH1991PTC194633	UB AJANTA BREWERIES PRIVATE LIMITED	Director	17-01-94	17-01-94	19-08-08	Active	NO
7	U14220GA1996PTC002176	CHOWGULE AND COMPANY (SALT) PRIVATE LIMITED	Director	30-08-96	30-08-96	-	Active	NO
8	U35111GA2002PTC003085	CHOWGULE SHIPBUILDING PRIVATE LIMITED	Director	27-03-02	27-03-02	-	Active	NO
9	L30007KA1977PLC031660	KELTECH ENERGIES LIMITED	Director	04-03-03	04-03-03	-	Active	NO
10	U24299GA2004PTC003568	CHOWGULE CONSTRUCTION CHEMICALS PRIVATE LIMITED	Director	04-08-04	04-08-04	-	Active	NO
11	U13100GA1999PTC002662	DOLPHIN MINING SERVICES PRIVATE LIMITED	Director	03-11-04	03-11-04	-	Active	NO
12	U13100GA1999PTC002657	DOLPHIN EXTRUSIONS PRIVATE LIMITED	Director	03-11-04	03-11-04	-	Active	NO
13	U13100GA1999PTC002658	DOLPHIN ORE EXTRACTION PRIVATE LIMITED	Director	03-11-04	03-11-04	-	Active	NO
14	U93090GA2007NPL005456	SPANDAN ECO FOUNDATION	Director	12-10-07	12-10-07	-	Active	NO
15	U80900PN2009NPL134007	MAC MARITIME TRAINING AND RESEARCH INSTITUTE	Director	21-05-09	21-05-09	-	Active	NO
16	U45203PN2007PTC130582	CHOWGULE PORTS AND INFRASTRUCTURE PRIVATE LIMITED	Director	30-09-09	28-05-09	-	Active	NO
17	U13209GA2010PTC006381	CHOWGULE MINING PRIVATE LIMITED	Director	10-05-10	10-05-10	-	Active	NO
18	U35203PN1999PTC020817	LAVGAN DOCKYARD PRIVATE LIMITED	Director	08-07-11	26-07-10	-	Active	NO
19	U63032PN2003PTC018005	JAIGAD PORTS INFRASTRUCTURE PRIVATE LIMITED	Director	08-07-11	26-07-10	-	Active	NO
20	U24100GA2010PTC006455	CHOWGULE ABP COATINGS (INDIA) PRIVATE LIMITED	Director	02-08-10	02-08-10	-	Active	NO
21	U45400GA2011PTC006569	CHOWGULE CONSTRUCTION TECHNOLOGIES PRIVATE LIMITED	Director	14-01-11	14-01-11	-	Active	NO
22	U73100GA2011NPL006729	PARVATIBAI CHOWGULE MARITIME TRAINING AND RESEARCH INSTITUTE	Director	13-07-11	13-07-11	-	Active	NO

Name :

Mr. Ramesh Laxmanrao Chowgule

Designation :

Managing Director

Address :

House No 678, La Citadel Colony, Caranzale Dona Paula, North Goa, Goa – 403004, India

Date of Birth/Age :

08.06.1942

Date of Appointment :

01.12.1972

DIN No.:

00018910

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	U63031GA1965PTC000041	CHOWGULE AND COMPANY PRIVATE LIMITED	Managing director	01-12-72	01-12-72	-	Active	NO
2	U31200GA1976PTC000126	MINAS E MINERAIS DE GOA PRIVATE LIMITED	Director	25-05-76	25-05-76	-	Active	NO
3	U14220GA1996PTC002176	CHOWGULE AND COMPANY (SALT) Private LIMITED	Director	30-08-96	30-08-96	-	Active	NO
4	U29244GA1998PTC002619	GOA INFRASTRUCTURAL DEVELOPMENT COMPANY PRIVATE LIMITED	Director	17-10-98	17-10-98	-	Active	NO
5	U35111GA2002PTC003085	CHOWGULE SHIPBUILDING PRIVATE LIMITED	Director	27-03-02	27-03-02	-	Active	NO
6	U13100GA1999PTC002658	DOLPHIN ORE EXTRACTION PRIVATE LIMITED	Director	03-11-04	03-11-04	-	Active	NO
7	U70200GA2008PTC005933	SAMAYA ESTATES PRIVATE LIMITED	Director	04-11-08	04-11-08	-	Active	NO
8	U01122GA2008PTC005935	KEPEM GARDEN AND RETREATS PRIVATE LIMITED	Director	05-11-08	05-11-08	-	Active	NO
9	U45203PN2007PTC130582	CHOWGULE PORTS AND INFRASTRUCTURE PRIVATE LIMITED	Director	30-09-09	28-05-09	-	Active	NO

Name :

Mr. Ashok Vishwasrao Chowgule

Designation :

Whole Time Director

Address :

Kanchanjunaga 5^th Floor, Peddar Road, Kemps Corner, Mumbai – 400026, Mahrashtra, India

Date of Birth/Age :

25.01.1948

Date of Appointment :

16.08.1974

DIN No.:

00018970

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	U51109GA1963PTC000010	CHOWGULE INDUSTRIES PRIVATE LIMITED	Director	07-06-74	07-06-74	-	Active	NO
2	U36991GA1965PTC000028	CARTYBON PRIVATE LIMITED	Director	09-06-74	09-06-74	-	Active	NO
3	U63031GA1965PTC000041	CHOWGULE AND COMPANY PRIVATE LIMITED	Whole-time director	16-08-74	16-08-74	-	Active	NO
4	U99999MH1977PLC019836	KELTECH ENERGIES LIMITED	Director	19-05-00	19-05-00	-	Not Available for eFiling	NO
5	U35111GA2002PTC003085	CHOWGULE SHIPBUILDING PRIVATE LIMITED	Director	27-03-02	27-03-02	-	Active	NO
6	L30007KA1977PLC031660	KELTECH ENERGIES LIMITED	Director	04-03-03	04-03-03	-	Active	NO
7	U13100GA1999PTC002658	DOLPHIN ORE EXTRACTION PRIVATE LIMITED	Director	03-11-04	03-11-04	-	Active	NO
8	U13100GA1999PTC002662	DOLPHIN MINING SERVICES PRIVATE LIMITED	Director	03-11-04	03-11-04	-	Active	NO
9	U13100GA1999PTC002657	DOLPHIN EXTRUSIONS PRIVATE LIMITED	Director	03-11-04	03-11-04	-	Active	NO
10	U31103PN1960PLC011738	GHATGE PATIL INDUSTRIES LIMITED	Director	29-07-06	29-07-06	-	Active	NO
11	L34300TN1974PLC006703	SUNDARAM BRAKE LININGS LIMITED	Director	22-01-07	22-01-07	-	Active	NO
12	U31200GA1976PTC000126	MINAS E MINERAIS DE GOA PRIVATE LIMITED	Director	28-05-07	28-05-07	-	Active	NO
13	U45203PN2007PTC130582	CHOWGULE PORTS AND INFRASTRUCTURE PRIVATE LIMITED	Director	30-09-09	28-05-09	-	Active	NO
14	U13209GA2010PTC006381	CHOWGULE MINING PRIVATE LIMITED	Director	10-05-10	10-05-10	-	Active	NO
15	U60200PN2011PTC141022	LAVGAN TERMINALS PRIVATE LIMITED	Director	11-10-11	11-10-11	-	Active	NO

Name :

Mr. Suresh Narsappa Talwar

Designation :

Director

Address :

10, Shivshanti Bhuvan, 146 Maharshi Karve Road, Churchgate Reclamation, Mumbai – 400020, Maharasahtra, India

Date of Birth/Age :

21.11.1937

Date of Appointment :

27.03.1992

DIN No.:

00001456

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	U23200MH1980PTC022646	MOLY COLLOIDS PRIVATE LIMITED	Director	16-05-80	16-05-80	12-07-07	Dormant	NO
2	U15430MH1948PLC006457	CADBURY INDIA LIMITED	Director	02-03-81	02-03-81	31-03-11	Active	NO
3	U29196MH1981PTC024115	EMERSON PROCESS MANAGEMENT (INDIA) PRIVATE LIMITED	Director	25-03-81	25-03-81	22-12-11	Active	NO
4	L29224TN1954PLC000318	CARBORUNDUM UNIVERSAL LIMITED	Director	08-06-83	08-06-83	24-07-08	Active	NO
5	L99999MH1967PLC013726	MERCK LIMITED	Director	17-01-84	17-01-84	-	Active	NO
6	U92110MH1944PTC004242	TWENTIETH CENTURY FOX CORPORATION (INDIA) PRIVATE LIMITED	Director	06-02-85	06-02-85	-	Strike off	NO
7	L28920MH1949PLC006870	BLUE STAR LIMITED	Director	17-06-86	17-06-86	-	Active	NO
8	L99999MH1982PLC026903	SHRENUJ AND COMPANY LIMITED	Director	30-12-88	30-12-88	-	Active	NO
9	U32104KL1981PLC003348	FCI OEN CONNECTORS LIMITED	Alternate director	01-08-11	20-02-89	01-02-12	Active	NO
10	U29299PN1960PTC011751	SANDVIK ASIA PRIVATE LIMITED	Director	29-03-89	29-03-89	-	Active	NO
11	U65920MH1995PTC092440	ROMIL FINANCE AND INVESTMENT PRIVATE LIMITED	Director	23-03-96	23-03-96	-	Dissolved	NO
12	U65993MH1996PTC102162	DECAGON INVESTMENTS PRIVATE LIMITED	Director	14-10-96	14-10-96	-	Active	NO
13	U65923MH1996PTC104084	SIDHAM FINANCE AND INVESTMENTS PRIVATE LIMITED	Director	22-03-97	22-03-97	-	Active	NO
14	U67120MH1998FTC113138	SCHENECTADY (INDIA) HOLDINGS PRIVATE LIMITED	Alternate director	31-07-98	31-07-98	23-01-09	Amalgamated	NO
15	L65920MH1994PLC080220	TRANSWARRANTY FINANCE LIMITED	Alternate director	27-12-99	27-12-99	-	Active	NO
16	L72200MH1997PLC110459	BLUE STAR INFOTECH LIMITED	Director	21-01-00	21-01-00	-	Active	NO
17	U65991MH2000PTC126846	INDIA VALUE FUND TRUSTEE COMPANY PRIVATE LIMITED	Director	18-11-09	17-07-00	-	Active	NO
18	U74140KA2000PTC027640	SWISS RE SHARED SERVICES (INDIA) PRIVATE LIMITED	Director	18-08-00	18-08-00	-	Active	NO
19	U22990MH1998PTC115305	MORGAN STANLEY INDIA COMPANY PRIVATE LIMITED	Director	21-06-01	21-06-01	27-10-08	Active	NO
20	U28920MH1999PTC119104	ARMSTRONG WORLD INDUSTRIES (INDIA) PRIVATE LIMITED	Director	11-07-01	11-07-01	-	Active	NO
21	U99999MH2000PLC128110	BIRLA SUN LIFE INSURANCE COMPANY LIMITED	Director	11-09-01	11-09-01	-	Active	NO
22	L24200MH2000PLC123813	SOLVAY PHARMA INDIA LIMITED	Director	16-10-01	16-10-01	-	Amalgamated	NO
23	U74300MH1987PTC044227	REDIFFUSION DENTSU YOUNG AND RUBICAM PRIVATE LIMITED	Director	06-12-01	06-12-01	-	Active	NO
24	U99999MH1963PLC012674	SI GROUP - INDIA LIMITED	Alternate director	22-01-08	01-01-02	22-01-09	Active	NO
25	U24240MH1995PTC086243	PZ CUSSONS INDIA PRIVATE LIMITED	Alternate director	18-06-10	07-05-02	-	Active	NO
26	L72200MH1994PLC082110	SONATA SOFTWARE LIMITED	Director	30-10-02	30-10-02	-	Active	NO
27	U67200MH2002PTC137954	AON GLOBAL INSURANCE BROKERS PRIVATE LIMITED	Director	24-02-03	24-02-03	11-10-10	Active	NO
28	U66030TN2001PLC047977	CHOLAMANDALAM MS GENERAL INSURANCE COMPANY LIMITED	Director	14-04-03	14-04-03	20-03-08	Active	NO
29	L24234KA1978PLC003417	BIOCON LIMITED	Director	17-05-03	17-05-03	-	Active	NO
30	U92110MH2003PTC142309	SHOWDIFF WORLDWIDE PRIVATE LIMITED	Director	21-01-04	21-01-04	22-02-10	Active	NO
31	L24222PN1956PLC134746	ELANTAS BECK INDIA LIMITED	Director	01-06-09	05-07-04	-	Active	NO
32	L99999MH1946PLC004768	LARSEN AND TOUBRO LIMITED	Director	06-07-04	06-07-04	-	Active	NO
33	L85190MH1947PLC005963	WYETH LIMITED	Director appointed in casual vacancy	20-03-09	15-09-04	26-10-09	Active	NO
34	L99999MH1922PLC000987	GREAVES COTTON LIMITED	Director	01-10-04	01-10-04	-	Active	NO
35	L25209MH1976PLC018939	GARWARE WALL ROPES LIMITED	Alternate director	02-12-11	04-12-04	-	Active	NO
36	U74200MH1977PTC020041	UHDE INDIA PRIVATE LIMITED	Alternate director	16-09-11	05-12-04	-	Active	NO
37	U92110MH2003PTC141168	WARNER BROS PICTURES (INDIA) PRIVATE LIMITED	Director	20-01-05	20-01-05	-	Active	NO
38	L24110MH1965PLC013331	RHODIA SPECIALTY CHEMICALS INDIA LIMITED	Alternate director	14-02-05	14-02-05	-	Active	NO
39	U72200MH2005PTC153209	EPITOME GLOBAL SERVICES PRIVATE LIMITED	Director	11-05-05	11-05-05	-	Active	NO
40	U24222MH2005PTC215180	SNOWCEM PAINTS PRIVATE LIMITED	Director	12-09-05	12-09-05	-	Active	NO
41	U67110MH2005PTC157770	MF GLOBAL (INDIA) PRIVATE LIMITED	Director	01-02-06	01-02-06	-	Active	NO
42	U74899MH1994PTC166755	BIRLA SUN LIFE TRUSTEE COMPANY PRIVATE LIMITED	Director	22-02-06	22-02-06	-	Active	NO
43	U63031GA1965PTC000041	CHOWGULE AND COMPANY PRIVATE LIMITED	Director	23-02-06	23-02-06	-	Active	NO
44	L65990MH1993PLC074306	VAARAD VENTURES LIMITED	Alternate director	19-05-09	31-03-06	29-07-09	Active	NO
45	U29100MH1953PTC009189	JOHN FOWLER (INDIA) PRIVATE LIMITED	Director	26-07-06	26-07-06	-	Active	NO
46	U74140KA2006PTC040274	IVF TRUSTEE COMPANY PRIVATE LIMITED	Director	18-09-06	18-09-06	-	Active	NO
47	U33110MH1957PLC010928	JOHNSON AND JOHNSON LIMITED	Alternate director	28-04-11	03-10-06	-	Active	NO
48	L29299TN1987PLC058738	ESAB INDIA LIMITED	Director	22-04-09	27-10-06	-	Active	NO
49	U34101KA1996PTC020195	MAHINDRA REVA ELECTRIC VEHICLES PRIVATE LIMITED	Director	02-12-06	02-12-06	29-07-10	Active	NO
50	U74140MH1999PTC122493	INGA CAPITAL PRIVATE LIMITED	Director	27-09-07	12-02-07	01-10-09	Active	NO
51	U70100TN2007PLC062429	RAKINDO KOVAI TOWNSHIP LIMITED	Additional director	01-04-07	01-04-07	19-02-08	Active	NO
52	U85199KA2002PTC030218	TTK Healthcare TPA Private Limited	Director	03-04-07	03-04-07	-	Active	NO
53	U85110KA2004PTC034819	SWISS RE HEALTHCARE SERVICES PRIVATE LIMITED	Director	03-04-07	03-04-07	-	Amalgamated	NO
54	U74999PN2007PTC137041	WAVE SUSPENSION SYSTEMS INDIA PRIVATE LIMITED	Director	29-09-08	25-05-07	28-01-11	Active	NO
55	U24299HR1962PLC007739	HINDUSTAN GUM AND CHEMICALS LIMITED	Alternate director	21-11-08	13-06-07	03-10-11	Active	NO
56	U65993MH2005PTC155362	INDIA DEBT MANAGEMENT PRIVATE LIMITED	Director	17-06-08	24-03-08	17-06-09	Active	NO
57	U65990MH1996PTC100190	MORGAN STANLEY INDIA CAPITAL PRIVATE LIMITED	Director	31-08-09	10-12-08	-	Active	NO
58	U35112MH1994PLC081331	SAMSON MARITIME LIMITED	Director	25-06-10	01-12-09	-	Active	NO
59	U45203PN2007PTC130582	CHOWGULE PORTS AND INFRASTRUCTURE PRIVATE LIMITED	Director	08-07-11	26-07-10	-	Active	NO
60	U45300AP2010PLC070121	LANDT METRO RAIL (HYDERABAD) LIMITED	Director	04-08-11	11-02-11	-	Active	NO
61	L17120MH1990PLC058361	S KUMARS NATIONWIDE LIMITED	Additional director	01-04-11	01-04-11	-	Active	NO

Name :

Mr. Suresh Laxmanrao Chowgule

Designation :

Director

Address :

Flat No.181, 8^th Floor, Jolly Maker Apartments No.3, Cuffe Parade Colaba, Mumbai – 400005, Maharashtra, India

Date of Birth/Age :

30.10.1940

Date of Appointment :

01.12.1972

DIN No.:

00100065

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	U61100GA1972PLC000206	HINDUSTAN BULK CARRIERS LIMITED	Director	29-09-72	29-09-72	05-03-02	Strike off	NO
2	U63031GA1965PTC000041	CHOWGULE AND COMPANY PRIVATE LIMITED	Director	01-12-72	01-12-72	-	Active	NO
3	U31200GA1976PTC000126	MINAS E MINERAIS DE GOA Private LIMITED	Director	25-05-76	25-05-76	-	Active	NO
4	U63090GA1966PTC000200	MAINLAND DOCKS PRIVATE LIMITED	Director	22-11-99	22-11-99	-	Amalgamated	NO
5	U13100GA1999PTC002657	DOLPHIN EXTRUSIONS PRIVATE LIMITED	Director	03-11-04	03-11-04	-	Active	NO

Name :

Mr. Jaywant Yeshwantrao Chowgule

Designation :

Director

Address :

Chowgule Bunglow, Chicalim, Vasco D a Gama, South Goa – 403711, India

Date of Birth/Age :

28.02.1958

Date of Appointment :

24.09.2004

DIN No.:

00019008

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	U55101GA1997PTC002266	CHOWGULE RESORTS PRIVATE LIMITED	Director	24-01-97	24-01-97	-	Active	NO
2	U31200GA1984PTC000597	CHOWGULE BROS PRIVATE LIMITED	Director	21-08-97	21-08-97	-	Active	NO
3	U24111GA1965PTC000198	KOLHAPUR OXYGEN AND ACETYLENE PRIVATE LIMITED	Director	21-06-01	21-06-01	-	Active	NO
4	U14220GA1996PTC002176	CHOWGULE AND COMPANY (SALT) PRIVATE LIMITED	Director	18-02-03	18-02-03	-	Active	NO
5	U01119GA1974PTC000186	MANGAL FARMING AND AGRO INDUSTRIES PRIVATE LIMITED	Director	25-08-03	25-08-03	-	Active	NO
6	U63031GA1965PTC000041	CHOWGULE AND COMPANY PRIVATE LIMITED	Director	24-09-04	24-09-04	-	Active	NO
7	U45201GA2005PTC003866	CHOWGULE MAINTENANCE SERVICES PRIVATE LIMITED	Director	22-02-05	22-02-05	19-07-11	Active	NO
8	L63090GA1963PLC000002	CHOWGULE STEAMSHIPS LIMITED	Director	22-10-05	22-10-05	-	Active	NO
9	U70101GA1963PTC000006	CHOWGULE REAL ESTATE AND CONSTRUCTION COMPANY PRIVATE LIMITED	Director	20-12-06	20-12-06	-	Active	NO

Name :

Mr Umaji Vishwasrao Chowgule

Designation :

Director

Address :

Regina Mundi Road, , Airport Road, Chicalim, South Goa, Goa – 403711, India

Date of Birth/Age :

27.12.1953

Date of Appointment :

25.08.2005

DIN No.:

00018993

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	U24111GA1965PTC000198	KOLHAPUR OXYGEN AND ACETYLENE PRIVATE LIMITED	Managing director	24-08-95	24-08-95	-	Active	NO
2	U31200GA1984PTC000597	CHOWGULE BROS PRIVATE LIMITED	Director	21-08-97	21-08-97	-	Active	NO
3	U27107GA1978PTC000334	DECCAN ALLOY METAL INDUSTRIES PRIVATE LIMITED	Director	31-05-99	31-05-99	-	Active	NO
4	U13100GA1999PTC002658	DOLPHIN ORE EXTRACTION PRIVATE LIMITED	Director	03-11-04	03-11-04	-	Active	NO
5	U13100GA1999PTC002662	DOLPHIN MINING SERVICES PRIVATE LIMITED	Director	03-11-04	03-11-04	-	Active	NO
6	U13100GA1999PTC002657	DOLPHIN EXTRUSIONS PRIVATE LIMITED	Director	03-11-04	03-11-04	-	Active	NO
7	U24111GA2005PTC003939	KOLHAPUR GASES (CARBONDIOXIDE) PRIVATE LIMITED	Director	24-03-05	24-03-05	-	Active	NO
8	U63031GA1965PTC000041	CHOWGULE AND COMPANY PRIVATE LIMITED	Director	25-08-05	25-08-05	-	Active	NO
9	U31200GA1976PTC000126	MINAS E MINERAIS DE GOA PRIVATE LIMITED	Director	28-05-07	28-05-07	-	Active	NO
10	U16005GA2008PTC005549	YACHT HAVEN (GOA) PRIVATE LIMITED	Managing director	01-08-10	15-01-08	-	Active	NO
11	U92412GA2008PTC005872	VASCO SPORTS CLUB (GOA) PRIVATE LIMITED	Director	22-08-08	22-08-08	-	Active	NO
12	L30007KA1977PLC031660	KELTECH ENERGIES LIMITED	Director	17-07-09	23-01-09	-	Active	NO
13	U45203PN2007PTC130582	CHOWGULE PORTS AND INFRASTRUCTURE PRIVATE LIMITED	Director	30-09-09	28-05-09	-	Active	NO
14	U13209GA2010PTC006381	CHOWGULE MINING PRIVATE LIMITED	Director	10-05-10	10-05-10	-	Active	NO
15	U24100GA2010PTC006455	CHOWGULE ABP COATINGS (INDIA) PRIVATE LIMITED	Director	02-08-10	02-08-10	-	Active	NO
16	U45400GA2011PTC006569	CHOWGULE CONSTRUCTION TECHNOLOGIES PRIVATE LIMITED	Director	14-01-11	14-01-11	-	Active	NO
17	U71120MH2006GAP158797	INDIAN MARINE FEDERATION	Director	05-07-11	05-07-11	-	Active	NO
18	U73100GA2011NPL006729	PARVATIBAI CHOWGULE MARITIME TRAINING AND RESEARCH INSTITUTE	Director	13-07-11	13-07-11	-	Active	NO
19	U60200PN2011PTC141024	CHOWGULE TERMINALS PRIVATE LIMITED	Director	11-10-11	11-10-11	-	Active	NO

Name :

Ms. Padma Vishwasrao Chowgule

Designation :

Director

Address :

91, Advent 9^th Floor, Gen Jaggannath Bhosle, Mumbai – 400021, Maharashtra, India

Date of Birth/Age :

22.08.1955

Date of Appointment :

26.02.2009

DIN No.:

00006969

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	U65993GA1981PTC000460	BULK INVESTMENTS AND TRADING PRIVATE LIMITED	Director	30-07-84	30-07-84	15-07-10	Strike off	NO
2	U65993GA1981PTC000449	HAY INVESTMENTS AND TRADING PRIVATE LIMITED	Director	30-07-84	30-07-84	15-07-10	Strike off	NO
3	U65993GA1981PTC000451	GRAPE INVESTMENTS AND TRADING PRIVATE LIMITED	Director	30-07-84	30-07-84	15-07-10	Strike off	NO
4	U65993GA1981PTC000457	ELEPHANT INVESTMENTS AND TRADING PRIVATE LIMITED	Director	30-07-84	30-07-84	15-07-10	Strike off	NO
5	U65993GA1981PTC000461	DHALIA INVESTMENTS AND TRADING PRIVATE LIMITED	Director	30-07-84	30-07-84	15-07-10	Strike off	NO
6	U65993GA1981PTC000456	CANNON INVESTMENTS AND TRADING PRIVATE LIMITED	Director	30-07-84	30-07-84	15-07-10	Strike off	NO
7	U65993GA1981PTC000452	ARROW INVESTMENTS AND TRADING PRIVATE LIMITED	Director	30-07-84	30-07-84	15-07-10	Strike off	NO
8	U65993GA1981PTC000458	APPLE INVESTMENTS AND TRADING PRIVATE LIMITED	Director	30-07-84	30-07-84	15-07-10	Strike off	NO
9	U65993GA1981PTC000459	AIM INVESTMENTS AND TRADING PRIVATE LIMITED	Director	30-07-84	30-07-84	15-07-10	Strike off	NO
10	U51109GA1963PTC000010	CHOWGULE INDUSTRIES PRIVATE LIMITED	Managing director	26-01-87	26-01-87	-	Active	NO
11	U24299GA2004PTC003568	CHOWGULE CONSTRUCTION CHEMICALS PRIVATE LIMITED	Director	04-08-04	04-08-04	01-06-10	Active	NO
12	U93090GA2007NPL005456	SPANDAN ECO FOUNDATION	Director	12-10-07	12-10-07	-	Active	NO
13	U35111GA2002PTC003085	CHOWGULE SHIPBUILDING PRIVATE LIMITED	Director	19-06-08	19-06-08	-	Active	NO
14	U63031GA1965PTC000041	CHOWGULE AND COMPANY PRIVATE LIMITED	Director	26-02-09	26-02-09	-	Active	NO
15	U13209GA2010PTC006381	CHOWGULE MINING PRIVATE LIMITED	Director	10-05-10	10-05-10	-	Active	NO
16	U60200PN2011PTC141023	JAIGAD TERMINALS PRIVATE LIMITED	Director	11-10-11	11-10-11	-	Active	NO

Name :

Mr. Pradeep Prabhakar Mahatme

Designation :

Director

Address :

House No.8/65/A, Near Telephone Exchange, Altinho Panaji, North Goa, Goa – 403001, India

Date of Birth/Age :

03.11.1951

Date of Appointment :

14.02.1989

DIN No.:

00019106

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	U24239GA1975PLC000250	GENO PHARMACEUTICALS LIMITED	Director	22-04-80	22-04-80	-	Active	NO
2	U63031GA1965PTC000041	CHOWGULE AND COMPANY PRIVATE LIMITED	Director	14-02-89	14-02-89	-	Active	NO
3	U14220GA1996PTC002176	CHOWGULE AND COMPANY (SALT) Private LIMITED	Director	30-08-96	30-08-96	-	Active	NO
4	U85199GA2000PTC002892	CHOWGULE MEDICONSULT PRIVATE LIMITED	Director	06-09-00	06-09-00	-	Active	NO
5	U24299GA2004PTC003568	CHOWGULE CONSTRUCTION CHEMICALS PRIVATE LIMITED	Director	04-08-04	04-08-04	-	Active	NO
6	U45203PN2007PTC130582	CHOWGULE PORTS AND INFRASTRUCTURE PRIVATE LIMITED	Director	08-07-11	26-07-10	-	Active	NO
7	U60200PN2011PTC141020	CHOWGULE LOGISTICS PRIVATE LIMITED	Director	11-10-11	11-10-11	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Rama Bhima Bilguche
Designation :	Company Secretary
Address :	A-1, Ankur Mother Teresa Colony, Near Mes College, Zuari Nagar Sancoale, South Goa, Goa - 403726
Date of Birth :	09.07.1951
Date of Appointment :	24.05.2001
PAN.:	ACLPB8348M

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.08.2011

Names of Shareholders	No. of Shares
Vijay V.Chowgule	22483
Vijay V Chowgule	73754
Ashok V. Chowgule	95783
Vishwasrao D Chowgule Jointly Mr.Yeshwantrao D.Chowgule	2000
Yeshwantrao D.Chowgule	12814
Yeshwanlrao D. Chowgule	9506
Yeshwantrao D. Chowgule	9506
Yeshwantrao D.Chowgule	4746
Yeshwantrao D. Chowgule	4754
Yeshwanlrao D Chowgule	4754
Sulekbabai Y Chowgule	4747
Sulekbabai Y. Chowgule	4746
Sulekhabai Y.Chowgule	4747
Laxmanrao D.Chowgule	9480
Laxmanra o D. Chowgul e	4746
lndirabai L Chowgule	9506
lndirabai L Chowgule	4754
SureshL Chowgule	58880
Suresh L. Chowgule	3166
Sulakshana S Chowgule	2934
Sulakshana S Chowgule	1586
Ramesh L.Chowgule	61814
Ramesh L.Chowgule	1114
Bonnie R Chowgule	3640
Haraii Dilip Naik	9508
Bharali Dilip Naik	4752
Sarita Pratap Shirke	206007
Rohini Vishwasrao Chowgule	47917
Uma|i V. Chowgule	47917
Padma V Chowgule	47919
Chowgule Real Estate S Const Company Private Limited, India	66
Dolphin Ore Extraction Private Limited, India	1626446
Dolphin Mining Sen/ices Private Limited, India	1197578
Dolphin Extrusions Private Limited, India	1400098
TOTAL	5004168

Equity Share Break up (Percentage of Total Equity)

As on 29.08.2011

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	4.00
Bodies corporate	84.00
Directors or relatives of Directors	12.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Mining, Beneficiation and Export of Iron Ore, Shipbuilding and Manufacture of Industrial Salt.

Products :

Item Code No. (ITC Code)	Product Description
260111.00	Iron Ore
260112.10	Iron Ore Pellets
NA	Ore Raising

GENERAL INFORMATION

No. of Employees :

3000 (Approximately)

Bankers :

State Bank of India, Industrial Finance Branch, Wakdewadi, Pune – 410003, Maharashtra, India

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Foreign currency loans banks secured	0.000	433.726
Rupee term loans banks secured	1128.500	0.000
Total	1128.500	433.726
Unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Rupee term loans others unsecured	0.000	182.320
Total	0.000	182.320

Banking Relations :	--
Auditors :
Name :	S. B. Billimoria and Company Chartered Accountants
Address :	Chartered Accountants, 12, Annie Basant Road, Opposite Shiv Sagar Estate, Worli, Mumbai – 400018, Maharasahtra, India
PAN.:	AAAFS7376P
Subsidiary Companies :	Chowgule and Company (Salt) Private Limited Chowgule Engineers and Machines Limited Chowgule Shipbuilding Private Limited Yacht Haven (Goa) Private Limited Sri Santhipriya Minerals Private Limited Chowgule Ports and Infrastructure Private Limited Rudra Shipping and Trading Limited
Associate Companies and Enterprises in which shareholders and key management personnel of the Company:	Chowgule Steamships Limited Chowgule Industries Private Limited Keltech Energies Limited Chowgule Brothers Private Limited

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
5499580	Equity Shares	Rs.10/- each	Rs.54.996 Millions
15006220	8% Redeemable Cumulative Preference Shares	Rs.10/- each	Rs.150.062 Millions
	Total		Rs.205.058 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5004168	Equity Shares	Rs.10/- each	Rs.50.042 Millions
	Total		Rs.50.042 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		50.042	50.042	50.042
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		19175.385	15755.114	12946.754
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		19225.427	15805.156	12996.796
LOAN FUNDS
1] Secured Loans		1128.500	433.726	718.947
2] Unsecured Loans		0.000	182.320	308.700
TOTAL BORROWING		1128.500	616.046	1027.647
DEFERRED TAX LIABILITIES		123.730	55.660	80.837
TOTAL		20477.657	16476.862	14105.280
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		4717.254	2945.181	3174.480
Capital work-in-progress		98.689	39.455	26.084
INVESTMENT		9855.984	8575.307	6046.052
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	3310.926	3373.317	4314.628
	Sundry Debtors	1452.843	809.863	638.997
	Cash & Bank Balances	655.824	747.436	695.650
	Other Current Assets	42.095	30.455	0.913
	Loans & Advances	2450.680	1806.105	1669.734
	Interest accrued on investment	0.000	0.000	8.327
Total Current Assets		7912.368	6767.176	7328.249
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	752.768	512.498	514.151
	Other Current Liabilities	1075.829	1175.317	1792.225
	Provisions	278.041	162.442	163.209
Total Current Liabilities		2106.638	1850.257	2469.585
Net Current Assets		5805.730	4916.919	4858.664
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		20477.657	16476.862	14105.280

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income		10703.018	12191.545
		Other Income
		TOTAL		10703.018	12191.545
Less	EXPENSES		NA
		Office Expenses		6444.949	5641.241
		Administrative Expenses
		Advertising Expenses
		TOTAL	NA	6444.949	5641.241
	PROFIT BEFORE TAX		5255.418	4258.069	6550.304
Less	TAX		1714.070	1342.023	2210.851
	PROFIT AFTER TAX		3541.348	2916.046	4339.453
Add	PRIOR YEAR ADJUSTMENTS: PRIOR YEAR TAXES – (NET)		(4.758)	9.020	26.062
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		348.036	349.676	348.252
Less	APPROPRIATIONS
		Transfer to General Reserve	3400.000	2810.000	4247.000
		Dividend	100.083	100.083	100.083
		Tax on Dividend	16.236	16.623	17.008
	BALANCE CARRIED TO THE B/S		368.307	348.036	349.676
	EARNINGS IN FOREIGN CURRENCY
		Export of goods calculated on FOB basis	10760.244	8422.138	366.927
		Dispatch money	2.177	3.124	11.099
		Others - Interest	0.117	0.149	0.000
		Income from charter hire	170.603	0.000	0.000
	TOTAL EARNINGS		10933.141	8425.411	378.026
	IMPORTS
		Stores & Spares	610.458	490.284	0.000
		Capital Goods	116.167	4.157	0.000
	TOTAL IMPORTS		726.625	494.441	0.000
	Earnings Per Share (Rs.)		706.73	584.53	--

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	NA	27.25	35.59
Return on Total Assets (PBT/Total Assets}	(%)	41.61	43.84	62.37
Return on Investment (ROI) (PBT/Networth)		0.27	0.27	0.50
Debt Equity Ratio (Total Liability/Networth)		0.17	0.16	0.27
Current Ratio (Current Asset/Current Liability)		3.76	3.66	2.97

LOCAL AGENCY FURTHER INFORMATION

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	No
5) Type of Business	Yes
6) Line of Business	Yes
7) Promoter’s background	Yes
8) No. of employees	No
9) Name of person contacted	No
10) Designation of contact person	No
11) Turnover of firm for last two 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)	No
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

OPERATIONS

Mining Division

The production of iron ore during the year was 3243 thousand tons as against 3,880 thousand tons during the previous year. Export of iron ore was at a level of 2588 thousand tons realizing Rs.8813.018 millions. This was against export of 3,171 thousand tons of iron ore realizing Rs.6431.591 millions during the previous year.

The Company also sold in the domestic market during the year, iron and other mineral ores realizing Rs.224.466 millions as against Rs.756.660 millions in the previous year.

During the year, export duty on iron ore lumps was increased from 15% to 20% ad valorem and on iron ore fines from 5% to 20% ad valorem effective from 1st March 2011. Export Duty on iron ore pellets, which was at ` 300/- per ton has been abolished with effect from 1st March 2011.

Shipbuilding Division

Shipbuilding Division had an order book for 24 numbers 4450 DWT Multipurpose Cargo Vessels mainly for export to Europe. Out of this total order, 18 vessels were delivered so far including delivery of 5 vessels during the year and 1 more vessel is fully ready for delivery. It is expected that the delivery of the remaining vessels will be completed by mid 2012.

Mandovi Pellets Division

During the year, Pellet Plant has produced 301 thousand tons of pellets and sold 227 thousand tons, realizing in aggregate Rs.486.831 millions the production was mainly by way of conversion of ore supplied by the customers into pellets. The plant has achieved reasonable rated capacity when in operation. However, production for the year was adversely affected due to non-availability of desired quality iron ore required for the plant.

Crane Division

During the year 30 cranes were sold as against 44 in the previous year. The division is increasing its product portfolio with the introduction of pickup loaders and tail lifts (manufactured in house) at the lower end of the material handling segment and large truck cranes and crawler cranes at the higher end (distribution of Powerplus Cranes). In addition, collaboration with Teisaku (Japan) for rock breaker and excavator attachments was also started for the Indian market. The rental fleet of truck mounted cranes and tractor cranes was increased to 44 from 26 in the previous year, with revenue of Rs.15.487 millions.

Shipping Division

The Company added bulk carrier “Maratha Prestige” to its existing vessel “Maratha Deep” in its shipping business. The vessel “Maratha Deep” realized revenue of Rs.38.635 millions as against Rs.38.724 millions in the previous year. The Vessel “Maratha Prestige” earned charter hires income of Rs.170.603 millions during the year.

Tudou Mines and 100% Export Oriented Unit at Tudou

The operations at Tudou plant continued to be affected by the statutory orders passed under the Wildlife Laws. The Company is pursuing the matter with the Authorities and expects positive results shortly. In the meantime, the efforts are on to utilize the resources in every possible manner.

CONTINGENT LIABILITIES NOT PROVIDED FOR:

CLAIMS AGAINST THE COMPANY NOT ACKNOWLEDGED AS DEBTS:

Particulars of Appeal		Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
Claim By	Claim Towards
Mormugao	Rate revision on imposition of special levy	8.585	8.585
Trust	Levy of differential charges	2.815	2.815
Excise Authorities	Difference in quantity on account of shipping losses (pellets)	0.806	0.806
Custom Authorities	Custom duty claim on stores and spares.	9.880	28.100
ESI Corporation Regional Provident Fund Commissioner	Interest on ESI contribution Applicability of Employees Provident Fund and Miscellaneous Act, 1952 (the Act), to the employees of the Pelletisation division	1.857 000.0	1.257 4.000
Private Party	Compensation for loss due to sinking of barge stranded over the wreck of Company’s Transhipper Compensation for damage to property and consequent loss of agricultural income.	20.000 1.500	20.000 1.500
Employees	Claims for differential pay by contract workers Industrial dispute claims	0.391 57.129	0.391 51.559
Miscellaneous	Motor accident claims	1.630	1.630

• Guarantees/undertakings issued to banks, lending institutions and others in respect of facilities granted to other companies and parties Rs.308.417 millions (Previous year Rs.201.563 millions).

• Other guarantees given to Government authorities for which the Company is contingently liable to Rs.46.228 millions (Previous year Rs.46.228 millions).

• The Company does not expect any material liability to devolve in respect of the claims listed in (i), (ii) and (iii) above and therefore no provision has been held in the accounts.

FORM 8

Corporate identity number of the company	U63031GA1965PTC000041
Name of the company	CHOWGULE AND COMPANY Private LIMITED.
Address of the registered office or of the principal place of business in India of the company	Chowgule House, Mormugao Harbour, Goa – 403803, India Email : ccl@chowgule.co.in
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	90075692
Type of charge	Immovable Property
Particular of charge holder	State Bank of India, Industrial Finance Branch, Wakdewadi, Pune – 410003, Maharashtra, India Email: p.praveen@sbi.co.in
Nature of instrument creating charge	Memorandum for recording extension of Mortgage by deposit of Title Deeds covering enhanced limits and /or creation of Equitable Mortgage on additional properties for existing limits and enhanced limits and additional facilities. (Copy of the same is attached). No documents executed.
Date of instrument Creating the charge	10.01.2012
Amount secured by the charge	Rs.500.700 Millions
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Property bearing C.T.S. No.3800, Survey No.47, Hissa No.2A/2A/2, Parvati, Pune, admeasuring 972.6 sq. Mtrs within the jurisdiction of Sub-Registrar, Taluka Haveli, District Pune, Maharashtra, India
Date of instrument modifying the charge	02.05.2011
Particulars of the present modification	Consequent upon grant of additional facilities and/or enhancement of limit from Rs.426.800 millions to Rs.500.700 millions to Chowgule Industries Private Limited by State Bank of India, Industrial Financial Branch, Wakadewadi, Pune, the additional/collateral security by way of redeposit of Title Deed is created on 11.01.2012 relating to the property owned by the Company bearing City Survey No.3800, Survey No.47, Hissa No.2A/2A/2, admeasuring 972.6 sq. Mtrs. situated at Parvati, Taluka and District Pune

FIXED ASSETS:

• Temple

- Structures and Buildings

- Adoration of Deities

• Freehold Land Leasehold Land
• Structures and Buildings
• Plant and Machinery
• Railway Siding
• River Fleet
• Ship
• Motor Vehicles
• Furniture, fittings and office
• Equipment

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.52.00
UK Pound	1	Rs.83.54
Euro	1	Rs.68.40

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	8
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	8
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	9
--PROFITABILIRY	1~10	8
--LIQUIDITY	1~10	8
--LEVERAGE	1~10	8
--RESERVES	1~10	9
--CREDIT LINES	1~10	8
--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		72

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.