MIRA INFORM REPORT

Report Date :

23.04.2012

IDENTIFICATION DETAILS

Name :	K.H. SHOES PRIVATE LIMITED
Formerly Known As :	K H SHOES LIMITED
Registered Office :	No.10/8, Bye Pass Road, Ranipet, Vellore- 632401, Tamil Nadu
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	14.09.1982
Com. Reg. No.:	18-009575
Capital Investment / Paid-up Capital :	Rs.6.602 Millions
CIN No.: [Company Identification No.]	U18209TN1982PTC009575
TAN No.: [Tax Deduction & Collection Account No.]	CHEK00210A
PAN No.: [Permanent Account No.]	AAACK1394E
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter and Importer of full shoes and leather shoe upper and wallets and bags for export
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

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

Maximum Credit Limit :	USD 2500000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is a 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 / Factory :	No.10/8, Bye Pass Road, Ranipet, Vellore- 632401, Tamil Nadu, India
Tel. No.:	91-4172-274501 (3 Lines)
Fax No.:	91-4172-274507
E-Mail :	khgroups@khindia.com khshoes@khindia.com
Area :	20,000 Sq. ft
Location :	Owned
KH Centre:	15/2, College Road, Nugambakkam, Chennai – 600006, Tamil Nadu, India
Tel. No.:	91-44-42236700 / 28222278 / 79 / 80
Fax No.:	91-44-42236738
Corporate Office :	KH house 2, Thiru Narayana Guru Road, Choolai, Chennai – 600112, Tamil Nadu, India
Tel. No. :	91-44-42236700 / 25322731 / 25324040 / 25323303 / 25322949
Fax No	91-44-25321185
E-Mail :	khgroup@vsnl.com
Area :	7500 Sq. ft
Location :	Owned

DIRECTORS

As on 29.09.2011

Name :

Mr. Malack Mohamed Shameem

Designation :

Managing Director

Address :

5, Khizarabad Second Street, Melvisharam, North Arcot – 632509, Tamil Nadu, India

Date of Birth/Age :

28.05.1961

Date of Appointment :

04.04.2008

DIN No.:

00185163

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	U18209TN1982PTC009575	K.H.SHOES PRIVATE LIMITED	Managing director	1/3/2009	14/09/1982	-	Active	NO
2	U19129TN1985PTC011821	RABIA LEATHER INDUSTRIES PRIVATE LIMITED	Director	1/3/2009	3/5/1985	-	Active	NO
3	U18209TN1986PTC013654	K H ARIND PRIVATE LIMITED	Director	6/11/1986	6/11/1986	-	Active	NO
4	U19119TN1987PTC014484	K H EXPORTS PRIVATE LIMITED	Director	8/6/1987	8/6/1987	-	Active	NO
5	U18209TN1989PTC016727	K H SHOES ACESSORIES PRIVATE LIMITED	Managing director	10/1/1989	10/1/1989	-	Active	NO
6	U18209TN1991PTC020628	K.H.OVERSEAS TRADING COMPANY PRIVATE LIMITED	Director	16/04/1991	16/04/1991	-	Active	NO
7	U73100TN1991NPL021372	K.H.FOUNDATION	Director	6/9/1992	6/9/1992	-	Active	NO
8	U18209TN1990PTC019324	G K LEATHER COMPANY PRIVATE LIMITED	Director	24/03/1998	24/03/1998	12/4/2012	Active	NO
9	U91110TN2004PTC053638	CONSORTIUM OF SHOE MANUFACTURERS PRIVATE LIMITED	Director	26/05/2005	26/05/2005	-	Active	NO
10	U19115TN2010PTC078518	H AND S LEATHER CREATIONS PRIVATE LIMITED	Director	22/12/2010	22/12/2010	-	Active	NO

Name :

Mr. Malack Mohamed Hashim

Designation :

Director

Address :

8, Mara Street Melvisharam, north Arcot – 632509, Tamil Nadu, India

Date of Birth/Age :

01.09.1939

Date of Appointment :

21.08.1982

DIN No.:

00171543

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	U18209TN1982PTC009575	K.H.SHOES PRIVATE LIMITED	Director	1/3/2009	14/09/1982	-	Active	NO
2	U19129TN1985PTC011821	RABIA LEATHER INDUSTRIES PRIVATE LIMITED	Director	3/5/1985	3/5/1985	-	Active	NO
3	U18209TN1986PTC013654	K H ARIND PRIVATE LIMITED	Managing director	6/11/1986	6/11/1986	-	Active	NO
4	U19119TN1987PTC014484	K H EXPORTS PRIVATE LIMITED	Director	8/6/1987	8/6/1987	-	Active	NO
5	U18209TN1989PTC016727	K H SHOES ACESSORIES PRIVATE LIMITED	Director	10/1/1989	10/1/1989	-	Active	NO
6	U29309TN1989PLC017370	RANIPET TANNERY EFFLUENT TREATMENT COMPANY LIMITED	Director	31/05/1989	31/05/1989	-	Active	NO
7	U18209TN1991PTC020628	K.H.OVERSEAS TRADING COMPANY PRIVATE LIMITED	Director	16/04/1991	16/04/1991	-	Active	NO
8	U73100TN1991NPL021372	K.H.FOUNDATION	Director	6/9/1992	6/9/1992	-	Active	NO
9	U45203TN2002PTC049343	RANIPET INFRASTRUCTURE DEVELOPMENT ORGANISATION PRIVATE LIMITED	Director	31/07/2002	31/07/2002	-	Dormant	NO
10	U93090TN1996NPL035469	INDIAN LEATHER INDUSTRY FOUNDATION	Director	24/08/2006	24/08/2006	-	Active	NO
11	U93000TN2008NPL068574	CHENNAI ENVIRONMENTAL MANAGEMENT COMPANY OF TANNERS	Director	15/07/2008	15/07/2008	-	Active	NO
12	U19115TN2010PTC078518	H AND S LEATHER CREATIONS PRIVATE LIMITED	Director	22/12/2010	22/12/2010	-	Active	NO

Name :

Mr. Sakvai Tahir Ahmed

Designation :

Whole – Time Director

Address :

3, Khizarabad Secound Street, Melvisharam, North Arcot – 632509, Tamil Nadu, India

Date of Birth/Age :

01.01.1949

Date of Appointment :

21.08.1982

DIN No.:

01125325

Name :

Mr. Malack Mohamed Thameem

Designation :

Director

Address :

6, Mara Street, Melvisharam, North Arcot – 632509, Tamil Nadu, India

Date of Birth/Age :

23.07.1963

Date of Appointment :

21.08.1982

DIN No.:

00171443

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	U19129TN1985PTC011821	RABIA LEATHER INDUSTRIES PRIVATE LIMITED	Director	3/5/1985	3/5/1985	-	Active	NO
2	U18209TN1986PTC013654	K H ARIND PRIVATE LIMITED	Director	6/11/1986	6/11/1986	-	Active	NO
3	U19119TN1987PTC014484	K H EXPORTS PRIVATE LIMITED	Director	8/6/1987	8/6/1987	-	Active	NO
4	U18209TN1989PTC016727	K H SHOES ACESSORIES PRIVATE LIMITED	Director	10/1/1989	10/1/1989	-	Active	NO
5	U18209TN1990PTC019324	G K LEATHER COMPANY PRIVATE LIMITED	Director	20/06/1990	20/06/1990	12/4/2012	Active	NO
6	U18209TN1991PTC020628	K.H.OVERSEAS TRADING COMPANY PRIVATE LIMITED	Director	16/04/1991	16/04/1991	-	Active	NO
7	U18209TN1982PTC009575	K.H.SHOES PRIVATE LIMITED	Director	16/03/1998	16/03/1998	-	Active	NO
8	U73100TN1991NPL021372	K.H.FOUNDATION	Director	29/07/1998	29/07/1998	-	Active	NO

Name :

Mr. Gumus Mohamed Kaleemillah

Designation :

Director

Address :

1, New Market, 2^nd Street, Melvisharam, North Arcot – 632509, Tamil Nadu, India

Date of Birth/Age :

13.10.1952

Date of Appointment :

21.08.1982

DIN No.:

00170806

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	U18209TN1982PTC009575	K.H.SHOES PRIVATE LIMITED	Director	14/09/1982	14/09/1982	-	Active	NO
2	U18209TN1990PTC019324	G K LEATHER COMPANY PRIVATE LIMITED	Director	20/06/1990	20/06/1990	12/4/2012	Active	NO
3	U73100TN1991NPL021372	K.H.FOUNDATION	Director	6/9/1992	6/9/1992	-	Active	NO
4	U29309TN1989PLC017370	RANIPET TANNERY EFFLUENT TREATMENT COMPANY LIMITED	Director	29/09/2001	29/09/2001	-	Active	NO

Name :

Mr. Malack Mohamed Ibrahim

Designation :

Director

Address :

6, Khizarabad First Street, Melvisharam, North Arcot – 632509, Tamil Nadu, India

Date of Birth/Age :

07.09.1969

Date of Appointment :

16.03.1998

DIN No.:

00170906

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	U18209TN1990PTC019324	G K LEATHER COMPANY PRIVATE LIMITED	Director	21/11/1996	21/11/1996	12/4/2012	Active	NO
2	U18209TN1982PTC009575	K.H.SHOES PRIVATE LIMITED	Director	16/03/1998	16/03/1998	-	Active	NO
3	U19129TN1985PTC011821	RABIA LEATHER INDUSTRIES PRIVATE LIMITED	Director	16/03/1998	16/03/1998	-	Active	NO

Name :

Mr. Malack Zakir Hussain

Designation :

Director

Address :

8, Mara Street, Melvisharam, North Arcot – 632509, Tamil Nadu, India

Date of Birth/Age :

21.02.1971

Date of Appointment :

16.03.1998

DIN No.:

00171191

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	U18209TN1990PTC019324	G K LEATHER COMPANY PRIVATE LIMITED	Director	21/11/1996	21/11/1996	12/4/2012	Active	NO
2	U18209TN1982PTC009575	K.H.SHOES PRIVATE LIMITED	Director	16/03/1998	16/03/1998	-	Active	NO
3	U19129TN1985PTC011821	RABIA LEATHER INDUSTRIES PRIVATE LIMITED	Director	16/03/1998	16/03/1998	-	Active	NO

Name :

Mr. Malack Abdul Wahab

Designation :

Director

Address :

8, Mara Street, Melvisharam, North Arcot – 632509, Tamil Nadu, India

Date of Birth/Age :

10.12.1973

Date of Appointment :

16.03.1998

DIN No.:

00171379

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	U18209TN1982PTC009575	K.H.SHOES PRIVATE LIMITED	Director	16/03/1998	16/03/1998	-	Active	NO
2	U19129TN1985PTC011821	RABIA LEATHER INDUSTRIES PRIVATE LIMITED	Managing director	1/3/2009	16/03/1998	-	Active	NO
3	U18209TN1990PTC019324	G K LEATHER COMPANY PRIVATE LIMITED	Director	24/03/1998	24/03/1998	12/4/2012	Active	NO
4	U19116TN2002PTC048843	ZAK LEATHER GARMENTS PRIVATE LIMITED	Director	29/04/2002	29/04/2002	-	Active	NO
5	U19121TN2006PTC061217	MORINE HANDBAGS PRIVATE LIMITED	Director	26/09/2006	26/09/2006	29/09/2010	Active	NO
6	U19115TN2010PTC078518	H AND S LEATHER CREATIONS PRIVATE LIMITED	Director	22/12/2010	22/12/2010	-	Active	NO

Name :

Mr. Malack Ashraf Ali

Designation :

Director

Address :

8, Mara Street, Melvisharam, North Arcot – 632509, Tamil Nadu, India

Date of Birth/Age :

15.11.1975

Date of Appointment :

16.03.1998

DIN No.:

00171300

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	U19129TN1985PTC011821	RABIA LEATHER INDUSTRIES PRIVATE LIMITED	Director	16/03/1998	16/03/1998	-	Active	NO
2	U18209TN1982PTC009575	K.H.SHOES PRIVATE LIMITED	Director	16/03/1998	16/03/1998	-	Active	NO
3	U18209TN1990PTC019324	G K LEATHER COMPANY PRIVATE LIMITED	Director	24/03/1998	24/03/1998	12/4/2012	Active	NO
4	U18209TN1986PTC013654	K H ARIND PRIVATE LIMITED	Director	1/4/1999	1/4/1999	-	Active	NO
5	U19116TN2002PTC048843	ZAK LEATHER GARMENTS PRIVATE LIMITED	Director	29/04/2002	29/04/2002	-	Active	NO
6	U19121TN2006PTC061217	MORINE HANDBAGS PRIVATE LIMITED	Director	1/6/2007	1/6/2007	19/01/2011	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2011

Names of Shareholders	No. of Shares
M. Mohamed Hashim	9087
M. Mohamed Shameem	4000
M. Mohamed Thameem	4000
S. Mumtaz Begum	4750
Rabia Lether India private Limited	10
M. Mohamed Ibrahim	4000
M. Zakir Hussain	4000
M. Ashraf Ali	4000
M. Abdul Wahab	4000
K.H. Exports Private Limited, India	20168
M. Hajira Banu	2000
Khutaija Banu	2000
M. Ameerunnisa	2000
M. Rabia Banu	2000
Total	66015

As on 29.09.2011

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, Exporter and Importer of full shoes and leather shoe upper and wallets and bags for export

PRODUCTION STATUS (As on 31.03.2011)

Particulars	Unit	Installed Capacity	Actual Production
Shoe Uppers	Prs	1,800,000	1,495,284
Full Shoes	Prs	1,050,000	1,380,353

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

State Bank of India, Leather and International Branch, MVJ Towers, P.H.Road, Chennai - 600010, Tamil Nadu, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
Rupee term loans banks secured	24.552	64.455
Working capital loans banks secured	335.342	335.127
Total	359.894	399.582
(A) Term Loan (The company has been sanctioned term loan limits all secured by machinery & building and collaterally secured by the guarantee of all the Directors and a general charge over the entire assets of the company) (B) Term Loan (The company has been sanctioned term loan limits all secured by machinery & building and collaterally secured by the guarantee of all the Directors and a general charge over the entire assets of the company) (C) Packing Credit (SBI, Leather Branch) (The company has been sanctioned working capital limits all secured by stocks, stores, Receivables and collaterally secured by the guarantee of all the Directors and a general charge over the entire assets of the company) (D) Packing Credit (SBI, Leather Branch) (The company has been sanctioned working capital limits all secured by stocks, stores, Receivables and collaterally secured by the guarantee of all the Directors and a general charge over the entire assets of the company)

Banking Relations :	--
Auditors :
Name :	D. Sampathkumar and Company Chartered Accountants
Address :	No.5, South Boag Road, T. Nagar, Chennai 600 017, Tamil Nadu, India
PAN.:	AAAFD2288D
Associates :	KH Arind Private Limited Rabia Leather Industries Private Limited KH Shoes Accessories Private Limited KH Exports Private Limited GK Leather Company Private Limited Zak Leather Garments Private Limited H & S Leather Creations Private Limited

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.100/- each	Rs.10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
66015	Equity Shares	Rs.100/- each	Rs.6.602 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		6.602	6.602	6.602
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		624.625	615.464	607.376
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		631.227	622.066	613.978
LOAN FUNDS
1] Secured Loans		359.894	399.582	438.947
2] Unsecured Loans		0.000	0.000	0.00
TOTAL BORROWING		359.894	399.582	438.947
DEFERRED TAX LIABILITIES		46.000	43.000	40.000
TOTAL		1037.121	1064.648	1092.925
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		424.515	429.901	408.080
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		1.771	1.771	0.312
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	504.824	474.127	521.570
	Sundry Debtors	89.689	44.446	26.518
	Cash & Bank Balances	13.107	26.950	11.270
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	275.686	281.493	338.558
Total Current Assets		883.306	827.016	897.916
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	226.146	163.070	183.241
	Other Current Liabilities	47.025	32.630	30.557
	Provisions	0.000	0.000	2.925
Total Current Liabilities		273.171	195.700	216.723
Net Current Assets		610.135	631.316	681.193
MISCELLANEOUS EXPENSES		0.700	1.660	3.340
TOTAL		1037.121	1064.648	1092.925

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	2195.462	1828.604	1991.388
		Other Income
		TOTAL	2195.462	1828.604	1991.388
Less	EXPENSES
		Office Expenses	2179.877	1815.116	1973.906
		Administrative Expenses
		Advertising Expenses
		TOTAL	2179.877	1815.116	1973.906
	PROFIT BEFORE TAX		15.585	13.488	17.482
Less	TAX		6.424	5.400	10.409
	PROFIT AFTER TAX		9.161	8.088	7.073
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		576.915	568.827	561.754
	BALANCE CARRIED TO THE B/S		586.076	576.915	568.827
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	2.013	1.647	1846.903
	TOTAL EARNINGS		2.013	1.647	1846.903
	IMPORTS
		Raw Materials	549.667	473.040	477.435
		Stores & Spares	4.718	2.703	5.637
		Capital Goods	10.076	7.424	35.140
	TOTAL IMPORTS		564.461	483.167	518.212
	Earnings Per Share (Rs.)		138.78	122.52	107.00

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.42	0.44	0.36
Return on Total Assets (PBT/Total Assets}	(%)	1.19	1.07	1.34
Return on Investment (ROI) (PBT/Networth)		0.02	0.02	0.03
Debt Equity Ratio (Total Liability/Networth)		1.00	0.96	1.07
Current Ratio (Current Asset/Current Liability)		3.23	4.23	4.14

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	Yes
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	--
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

Note:

The registered office of the company has been shifted from No.2, Hunters Road, Choolai Madras, Madras – 600112, Tamil Nadu, India to present address w.e.f. 28.09.2009

PERFORMANCE REVIEW

The performance of the company for the year ended 31^st March 2011 was satisfactory. The Board of Directors expects more business and profitability in the forthcoming years.

CONTINGENT LIABILITY

Rs. In Millions

Particular	31.03.2010	31.03.2009
Guarantees issued by the Banks	3.167	3.167
Bills Discounted	82.777	78.823

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U18209TN1982PTC009575
Name of the company	K.H.SHOES PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	No 2 Hunters Road,Choolaimadras, Madras – 600112, Tamil Nadu, India
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	90296697
Type of charge	Immovable property Floating charge Others Others (Hypothecation)
Particular of charge holder	State Bank of India, Leather and International Branch, M.V.J. Tower, 177/1 P H Road, Kilpauk, Chennai – 600010, Tamil Nadu dgm.07024@sbi.co.in
Nature of instrument creating charge	Supplemental Agreement of Hypothecation of Goods and Assets for increase in the overall Limit. Letter regarding the grant of individual limits within the overall limit Extension of Equitable Mortgage.
Date of instrument Creating the charge	15.05.2009
Amount secured by the charge	Rs.735.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest as applicable to Export Packing Credit as advised by RBI from time to time and at present at 9.5% Terms of Repayment As per Agreement Margin Raw Material: 25% Stock in Process : 25% Finished Goods : 25% Extent and Operation of the charge As Per Agreement Others EPC : Rs.180.000 Millions FDB (Non LC): Rs.140.000 Millions Letter of Credit: Rs.80.000 Millions Bank Guarantee (Rs.10.000 Millions) Stand by Limit: Rs.60.000 Millions Term Loan : Rs.95.000 Millions FDB (LC): Rs.80.000 Millions Adhoc EPC : Rs.100.000 Millions Total: Rs.735.000 Millions
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Hypothecation and Extension of Equitable Mortgage by deposit of title deeds of Company's immovable Property
Date of instrument modifying the charge	17.07.2008
Particulars of the present modification	The Credit facilities enhanced to Rs.735.000 Millions and Hypothecation and Extension of Equitable Mortgage by deposit of title deeds of Company's immovable Property

FIXED ASSETS

• Land
• Building
• Plant and Machinery
• Electrical Installation
• Furniture and Fittings
• Vehicles

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.86.40

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	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		47

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.