MIRA INFORM REPORT

Report Date :

13.08.2012

IDENTIFICATION DETAILS

Name :	SHREE RAM URBAN INFRASTRUCTURE LIMITED (w.e.f. 20.03.2007)
Formerly Known As :	SHREE RAM MILLS LIMITED
Registered Office :	Shree Ram Mills Premises, Ganpatrao Kadam Marg, Lower Parel, Mumbai – 400013, Maharashtra
Country :	India
Financials (as on) :	31.12.2011
Date of Incorporation :	25.01.1935
Com. Reg. No.:	11-002241
Capital Investment / Paid-up Capital :	Rs.411.345 Millions
CIN No.: [Company Identification No.]	L17110MH1935PLC002241
TAN No.: [Tax Deduction & Collection Account No.]	MUMS37641C
PAN No.: [Permanent Account No.]	AACCS0454P
Legal Form :	A Public Limited Liability company. The company’s Share are Listed on the Stock Exchange.
Line of Business :	Textile Trading and Construction Activity.
No. of Employees :	Information denied by management

RATING & COMMENTS

MIRA’s Rating :

B (30)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 11790000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an old and well established company having moderate track. Even though the company has achieved a better sales turnover, the profitability appears to be very low during 2011. Accumulated losses recorded by the company appears to be reducing. Trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with great caution.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

INFORMATION DENIED

Management non co-operative (91-22-61404900)

LOCATIONS

Registered Office :	Shree Ram Mills Premises, Ganpatrao Kadam Marg, Lower Parel, Mumbai – 400013, Maharashtra, India
Tel. No.:	91-22-24932728 / 61404900 / 24965701
Fax No.:	91-22-24928617
E-Mail :	skl@.skumars.co.in
Website :	http://www.skumars.co.in

DIRECTORS

As on: 21.04.2011

Name :	Mr. Shambhukumar Shankarlalji Kasliwal
Designation :	Chairman
Address :	Padam 2, Flat 10, 4 B G Deshmukh Marg, Mumbai – 400026, Maharashtra, India
Date of Birth/Age :	11.11.1930
Date of Appointment :	09.10.1978
DIN No.:	00555161
Name :	Mr. Vikas Shambhukumar Kasliwal
Designation :	Vice - Chairman and CEO
Address :	Padam 2, Flat 27, 4 B G Deshmukh Marg, Mumbai – 400026, Maharashtra, India
Date of Birth/Age :	07.09.1956
Date of Appointment :	30.10.2002
DIN No.:	00046876
Name :	Mr. Mukul Shambhukumarji Kasliwal
Designation :	Director
Address :	Padam, 4 B G Deshmukh Marg, Mumbai – 400026, Maharashtra, India
Date of Birth/Age :	20.10.1964
Date of Appointment :	28.04.2003
DIN No.:	00058577
Name :	Mr. Subhkaran Kamalprasad Luharuka
Designation :	Whole-time Director
Address :	Vasant Galaxy Mars, Building ‘B’, Wing, Flat 304, Bangurnagar, Goregaon West, Mumbai – 400090, Maharashtra, India
Date of Birth/Age :	05.10.1941
Date of Appointment :	26.06.1996
DIN No.:	01068251
Name :	Mr. Vijay Goverdhandas Kalantri
Designation :	Director
Address :	2, Wahendna Apartment, 75, Hill Road, Bandra [West], Mumbai – 400050, Maharashtra, India
Date of Birth/Age :	05.01.1949
Date of Appointment :	25.08.2005
DIN No.:	00019510
Name :	Mr. Om Prakash Chawla
Designation :	Director
Address :	B-204, Natasha Enclave, NIBM Road, Pune, Mumbai – 411048, Maharashtra, India
Date of Birth/Age :	15.02.1934
Date of Appointment :	25.08.2005
DIN No.:	00026712
Name :	Mr. Lalitmohan Ew Franklin
Designation :	Director
Address :	A-1, Konark Estate, 10 Bund Garden Road, Pune, Mumbai – 411001, Maharashtra, India
Date of Birth/Age :	14.04.1938
Date of Appointment :	25.08.2005
DIN No.:	00625540
Name :	Mr. Mohan Motiram Jayakar
Designation :	Director
Address :	12, Makani Manor, 1^st Floor, Peddar Road, Mumbai – 400026, Maharashtra, India
Date of Birth/Age :	08.10.1951
Date of Appointment :	18.03.2009
DIN No.:	00925962
Name :	Mrs. Poornima Govind Advani
Designation :	Director
Address :	73/63, Mehrdad, Cuffe Parade, Mumbai – 400005, Maharashtra, India
Date of Birth/Age :	29.07.1960
Date of Appointment :	18.03.2009
DIN No.:	02626450
Name :	Mr. Naresh Kumar Sethi
Designation :	Director
Address :	Rishabh Deep, 4/83, Surya Path, Jawahar Nagar, Jaipur – 302004, Rajasthan, India
Date of Birth/Age :	08.02.1937
Date of Appointment :	14.05.2011
DIN No.:	03554868

KEY EXECUTIVES

Name :	Ms. Manju Balaram Batham
Designation :	Secretary
Address :	C – 39/002, Sector – 5, Shanti Nagar, Mira Road (East), Mumbai – 401107, Maharashtra, India
Date of Birth/Age :	28.01.1971
Date of Appointment :	02.01.2009
PAN :	AFAPB0207K

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 30.06.2012

Category of Shareholders	No. of Shares	Percentage of Holding
(A) Shareholding of promoters and Promoter Group
1. Indian
Individuals / Hindu Undivided Family	2234800	5.43
Bodies Corporate	26835125	65.24
Sub Total (A)	29069925	70.67
(B) Public Shareholding
1. Institutions
Financial Institutions / Banks	120	-
Insurance Companies	20520	0.05
Foreign Institutional Investors	2087756	5.08
Sub Total (B)	2108396	5.13
2. Non Institutions
Bodies Corporate	7199720	17.51
Individuals
Individual shareholders holding nominal share capital up to Rs. 0.100 million	1163994	3.17
Individual shareholders holding nominal share capital in excess of Rs. 0.100 million	1429993	3.48
Any other [speicfy]	22882	0.06
Clearing Members	2150	0.01
Non Resident Indians	20732	0.05
Sub Total	9816589	24.20
Total Public shareholding (B)	11924985	29.33
Total (A)+(B)	40994910	100.00
(C) Shares held by custodians and against which depository receipts have been issued	-	-
(1) Promoter and Promoter Group	-	-
(2) Public	-	-
Sub Total	-	-
Total (A)+(B)+(C)	40994910	-

Shareholding belonging to the category "Promoter and Promoter Group"

Sl. No.	Name of the Shareholder	Details of Shares held		Encumbered shares (*)
		No. of Shares held	As a % of grand total (A)+(B)+(C)	No	As a percentage	As a % of grand total (A)+(B)+(C) of sub-clause (I)(a)
1	Shambhukumar S Kasliwal	50000	0.12	-	-	-
2	Anuradha Vikas Kasliwal	56400	0.14	-	-	-
3	Anuradha Vikas Kasliwal	48000	0.12	-	-	-
4	Anuradha Vikas Kasliwal	24000	0.06	-	-	-
5	Anuradha Vikas Kasliwal	2940	0.01	-	-	-
6	Anuradha Vikas Kasliwal	177563	0.43	-	-	-
7	Rajkumari S Kasliwal	1327017	3.23	-	-	-
8	Rajkumari S Kasliwal	97740	0.24	-	-	-
9	Rajkumari S Kasliwal	2100	0.01	-	-	-
10	Rajkumari S Kasliwal	840	0.00	-	-	-
11	Rajkumari S Kasliwal	200	0.00	-	-	-
12	Vikas Shambhukumarji Kasliwal	156000	0.38	-	-	-
13	Vikas Shambhukumarji Kasliwal	122760	0.30	-	-	-
14	Vikas Shambhukumarji Kasliwal	90000	0.22	-	-	-
15	Vikas Shambhukumarji Kasliwal	44400	0.11	-	-	-
16	Vikas Shambhukumarji Kasliwal	25990	0.06	-	-	-
17	Vikas Shambhukumarji Kasliwal	8850	0.02	-	-	-
18	Kartikeya Finvest Private Limited	503985	1.23	-	-	-
19	Vidhi Holdings Private Limited	523901	1.27	150000	28.63	0.36
20	Akhilesh Developers Private Limited	9071713	22.05	3797830	41.86	9.23
21	Mandakini Hospitality Private Limited	5084678	12.36	-	-	-
22	Yashaswini Leisure Private Limited	5500000	13.37	-	-	-
23	Hanumesh Realtors Private Limited	6150848	14.95	-	-	-
	Total	29069925	70.67	3947830	13.58	9.60

Shareholding belonging to the category "Public" and holding more than 1% of the Total No. of Shares

Sl. No.	Name of the Shareholder	No. of Shares held	Shares as % of Total No. of Shares
1	Adhir Barter Private Limited	2215322	5.39
2	Hakmans Financial Services and Securities Private Limited	2200000	5.35
3	Hypnos Fund Limited	1208771	2.94
4	Turan Infratech Private Limited	562473	1.37
5	Girija Holding Private Limited	503985	1.23
6	Raj Infin Private Limited	503985	1.23
7	Elara India Opportunities Fund Limited	503985	1.23
	Total	7698521	18.72

Shareholding belonging to the category "Public" and holding more than 5% of the Total No. of Shares

Sl. No.	Name(s) of the shareholder(s) and the Persons Acting in Concert (PAC) with them	Number of shares	Shares as % of Total No. of Shares
1	Adhir Barter Private Limited	2215322	5.39
2	Hakmans Financial Services and Securities Private Limited	2200000	5.35
	Total	4415322	10.73

Details of Locked-in Shares

Sl. No.	Name of the Shareholder	No. of Shares	Locked-in Shares as % of Total No. of Shares
1	Yashaswini Leisure Private Limited	5500000	13.37
2	Madakni Hospitality Private Limited	5084678	12.36
3	Hanumesh Realtors Private Limited	5500000	13.37
4	Adhir Barther Private Limited	1374922	3.34
	Total	17459600	42.45

As on: 21.04.2012

Equity Share Break Up 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	5.13
Public Financial Companies	0.05
Bodies corporate	82.73
Directors or relatives of Directors	6.75
Other top fifty shareholders	2.63
Others	2.71
Total	100.00

BUSINESS DETAILS

Line of Business :

Textile Trading and Construction Activity.

Products :

Products Description	ITC Code No.
Fabrics	5515
Real Estate Development	NA

GENERAL INFORMATION

No. of Employees :

Information denied by management

Bankers :

Oriental Bank of Commerce, Peddar Road Branch, Bhagwat Niwas, Ground Floor, Opposite Jindal Mansion, Peddar Road, Mumbai - 400026, Maharashtra, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.12.2011	As on 31.12.2010
From Banks i) Term loans (Secured against pari passu charge with lenders, on mortgage of portion of land bearing plot No.5B and 6, on mortgage on the property together with Building and Structures thereon, -on project receivables -mortgage and charge /assignment by way of all rights, title, interest, claims, benefits, demands under the project! documents both present and future, -on Escrow Account and DSR Account, -personal guarantee of one of the Directors, -pledge of 74,28,454 shares (P.Y.: 74,28,454) of the Company held by promoters -Corporate Guarantee of promoter, Akhilesh Developers Pvt. Ltd (Amount repayable within one year Rs 4216.489 millions	0.000	4216.490
ii) Vehicle loans (Secured against hypothecation of assets financed) (Amount repayable within one year Rs. 1.269 millions	4.886	1.889
From others
i) Term Loan – Project Secured against registered mortgage of Plot Nos. 5B and 6 situated at Shree Ram Mills Premises, Lower Parel Div., Mumbai together with building and structures thereon, both present and future viz. ``Palais Royale" and further secured by first and exclusive charge on all the receivables/ cash flows arising from the sale of the aforesaid project of developed area as well as pre-sold in favour of the Lender and personal guarantee of one of the Director	5500.000	0.000
ii) Equipment Loans Secured against hypothecation of assets financed, pledge of 17,47,830 shares (P.Y.: 7,47,830 shares) of company held by promoters and personal guarantee of one of the Director. (Amount repayable within one year Rs. 134.525 Millions) (P.Y.:Rs. 174.825 Millions)	425.224	291.761
iii) Vehicles Loans (Secured against hypothecation of assets financed) (Amount repayable within one year Rs. 0.394 Million) (P.Y.: Nil)	1.169	0.000
Total	5931.279	4510.140
Unsecured Loan	As on 31.12.2011	As on 31.12.2010
Loans from Corporates	53.399	53.399
Total	53.399	53.399

Banking Relations :	--
Financial Institutions :	Tata Capital Financial Services Limited, One Forbes, Dr. V. B. Gandhi Marg, Fort Mumbai – 400001, Maharashtra, India
Auditors :
Name :	Habib and Company Chartered Accountants
Address :	75, Patharia Palace, Mohamedali Road, Mumbai – 400003, Maharashtra, India
PAN :	AAAFH1231L
Name :	Khandelwal Jain and Company Chartered Accountants
Address :	6B, PIL Court, 6^th Floor, 111, M. K. Road, Mumbai – 400020, Maharashtra, India
PAN :	AAAFK0985C
Subsidiaries :	· SRM Sites Private Limited CIN No.: U45202MH2009PTC192761 · Shree Ram Realinfra Ventures Private Limited CIN No.: U45202MH2009PTC194506 · Raghuveer Suburban Infrastructure Private Limited CIN No.: U45202MH2009PTC194471
Enterprise that directly, or indirectly through one or more intermediaries, control, or are controlled by, or are under common control with, the reporting enterprise	Akhilesh Developers Private Limited
Enterprises over which key management personnel and their relatives exercise significant influence where the Company has entered into transactions during the year	· Landmarc Leisure Corporation Limited CIN No.: L65990MH1991PLC060535 · S Kumars Online Limited CIN No.: L45400MH1999PLC119875 · Vidhi Holdings Private Limited · Raghuveer Urban Constructions Company Private Limited (w.e.f. 7th April, 2010) CIN No.: U45201MH2006PTC165516 · Akhilesh Developers Private Limited CIN No.: U45200MH2003PTC142542 · Hanumesh Realtors Private Limited CIN No.: U45200MH2003PTC142541 · Mandakini Hospitality Private Limited CIN No.: U55101MH2003PTC143621 · Yashaswini Leisure Private Limited CIN No.: U55101MH2003PTC142540 · SKM Fabrics (Andheri) Limited · Aura Realtors Private Limited CIN No.: U45202MH2010PTC200332 · Goldmount Advisors · Vasundhara Hospitality Private Limited CIN No.: U55101MH2009PTC193940

CAPITAL STRUCTURE

As on: 31.12.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
95711120	Equity Shares	Rs.10/- each	Rs.957.111 Millions
136877	11% Redeemable Preference Shares	Rs.100/-each	Rs.13.688 Millions
117011	0% Redeemable Preference Shares	Rs.100/-each	Rs.11.701 Millions
1750000	Unclassified Shares	Rs.10/-each	Rs.17.500 Millions
	Total		Rs.1000.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
41134540	Equity Shares	Rs.10/- each	Rs.411.345 Millions

Note:

34,39,090 Equity Shares of Rs. 10 each were allotted in 2006 as fully paid up bonus shares in the ratio of 1:5 by way of capitalisation of Rs.34.391 Millions from General Reserve

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

Particulars		31.12.2011	31.12.2010	31.12.2009
SHAREHOLDERS FUNDS
1] Share Capital		411.345	231.734	231.734
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		2662.305	0.174	30.837
4] (Accumulated Losses)		(125.788)	[131.809]	0.000
NETWORTH		2947.862	100.099	262.571
LOAN FUNDS
1] Secured Loans		5931.279	4510.140	3894.324
2] Unsecured Loans		53.399	53.399	716.184
TOTAL BORROWING		5984.678	4563.539	4610.508
Convertible Equity Shares Warrants		0.000	717.500	157.500
TOTAL		8932.540	5381.138	5030.579
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1731.564	1780.077	1684.052
Capital work-in-progress		35.523	0.719	36.932
INVESTMENT		10.200	10.200	10.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	8518.435	6184.262	3910.061
	Sundry Debtors	130.072	73.419	70.430
	Cash & Bank Balances	207.113	547.835	325.556
	Other Current Assets	505.671	0.000	0.000
0	Interest Accrued but not due	0.841	9.442	3.489
	Loans & Advances	5316.462	2581.022	1887.890
Total Current Assets		14678.594	9395.980	6197.426
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1848.424	553.602	144.387
	Other Current Liabilities	5672.089	5249.596	2804.625
	Provisions	2.828	2.640	2.412
Total Current Liabilities		7523.341	5805.838	2951.424
Net Current Assets		7155.253	3590.142	3246.002
MISCELLANEOUS EXPENSES		0.000	0.000	53.593
TOTAL		8932.540	5381.138	5030.579

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.12.2011	31.12.2010	31.12.2009
	SALES
		Income	3786.640	346.033	397.332
		Other Income	3.889	1.817	1.891
		TOTAL (A)	3790.529	347.850	399.223
Less	EXPENSES
		Trading Purchases	239.748	317.326	396.922
		Cost of Construction (Real Estate Development)	3468.082	0.000	0.000
		Payments to and Provision for Employees	6.458	5.427	4.972
		Administration and Other Expenses	69.723	105.638	122.214
		Provision for Impairment loss	0.000	72.835	23.247
		Prior period adjustments	(0.518)	0.512	[0.242]
		TOTAL (B)	3783.493	501.738	547.113
	PROFIT/[LOSS] BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		7.036	[153.888]	[147.890]
Less	FINANCIAL EXPENSES (D)		0.225	0.106	0.076
	PROFIT/[LOSS] BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		6.811	[153.994]	[147.966]
Less/ Add	DEPRECIATION/ AMORTISATION (F)		0.741	8.430	11.302
	PROFIT / [LOSS] BEFORE TAX (E-F) (G)		6.070	(162.424)	(159.268)
Less	TAX (H)		0.049	0.047	(21.290)
	PROFIT / [LOSS] AFTER TAX (G-H) (I)		6.021	(162.471)	(137.978)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(146.808)	15.663	153.641
	BALANCE CARRIED TO THE B/S		(140.787)	(146.808)	15.663
	IMPORTS
	Raw Materials		24.092	1.258	NA
	Capital Goods		23.434	14.985	NA
	TOTAL IMPORTS		47.526	16.243	NA
	Earnings/[Loss] Per Share (Rs.)		0.20	(7.87)	(6.69)

QUARTERLY RESULTS

(Rs. In Millions)

PARTICULARS	31.03.2012
Type	1^st Quarter
Net Sales	397.470
Total Expenditure	393.200
PBIDT (Excl OI)	4.270
Other Income	0.320
Operating Profit	4.590
Interest	0.030
Exceptional Items	0.000
PBDT	4.560
Depreciation	0.140
Profit Before Tax	4.420
Tax	1.500
Provision and contingencies	0.000
Profit After Tax	2.910
Extraordinary Items	0.000
Prior Period Expenses	0.000
Other Adjustments	0.000
Net Profit	2.910

KEY RATIOS

PARTICULARS		31.12.2011	31.12.2010	31.12.2009
PAT / Total Income	(%)	0.16	(46.71)	(34.56)
Net Profit Margin (PBT/Sales)	(%)	0.16	(46.94)	(40.08)
Return on Total Assets (PBT/Total Assets}	(%)	0.04	(1.45)	(2.02)
Return on Investment (ROI) (PBT/Networth)		0.00	(1.62)	(0.61)
Debt Equity Ratio (Total Liability/Networth)		4.58	103.59	28.80
Current Ratio (Current Asset/Current Liability)		1.95	1.62	2.10

LOCAL AGENCY FURTHER INFORMATION

DETAILS OF SUNDRY CREDITORS

(Rs. in Millions)

Particulars	31.12.2011	31.12.2010	31.12.2009
Sundry Creditors for goods and expenses:
Amount Outstanding to Micros, Small and Medium Enterprises	0.000	0.000	0.000
Due to subsidiary company	1604.493	0.000	0.000
Others	243.931	553.602	144.387
Total	1848.424	553.602	144.387

Sr. No.	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 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)	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	No
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

FINANCIAL HIGHLIGHTS:

The Company earned a Profit of Rs. 6.021 Millions as compared to a loss of Rs. 162.471 Millions in the previous year

COMPANY INFORMATION:

Subject entered the Real Estate business by launching the flagship project of “Palais Royale”, prior to that the Company was one of the big players in textiles known as Shree Ram Mills Limited. The Company had carried out the business of manufacturing of cotton textiles and synthetic fabrics.

The name of the Company was changed from Shree Ram Mills Limited to Subject in the year 2007 and is carrying the activities of textiles trading and construction.

INSURANCE

The building, site construction and electrical installation have been covered for all probable risks.

SUBSIDIARIES

SRM Sites Private Limited is a material, unlisted Indian Subsidiary Company.

Raghuveer Suburban Infrastructure Private Limited and Shree Ram Realinfra Ventures Private Limited are nonmaterial, unlisted Indian Subsidiary Company.

The reports and accounts of the subsidiary companies are not annexed to this Report. The Board of Directors of the Company have approved and passed a resolution in this regard. A statement pursuant to Section 212 (8) of the Companies Act, 1956 is annexed.

CONTINGENT LIABILITIES:

The Company makes a provision when there is present obligation as a result of past event where the outflow of economic resources is probable and a reliable estimate of the amount of the obligation can be made.

A disclosure is made for a contingent liability when there is a:

(i) Possible obligation, the existence of which will be confirmed by the occurrence / non-occurrence of one or more uncertain events, not fully within the control of the company;

(ii) Present obligation, where it is not probable that an outflow of resources embodying economic benefits will be required to settle the obligation;

(iii) Present obligation where a reliable estimate cannot be made;

Bankers Charges Report as per Registry

Corporate identity number (CIN) or foreign company registration number of the company	L17110MH1935PLC002241
Name of the company	SHREE RAM URBAN INFRASTRUCTURE LIMITED
Address of the registered office or of the principal place of business in India of the company	Shree Ram Mills Premises, Ganpatrao Kadam Marg, Lower Parel, Mumbai – 400013, Maharashtra, India E-mail: skl@skumars.co.in
This form is for	Creation of charge
Type of charge	Movable property (not being pledge)
Particular of charge holder	Tata Capital Financial Services Limited, One Forbes, Dr. V. B. Gandhi Marg, Fort Mumbai – 400001, Maharashtra, India E-mail: avan.doomasia@tatacapital.com
Nature of instrument creating charge	Creation of charge for the loan taken for the purchase of car, details as per the attached loan cum hypothecation cum guarantee agreement.
Date of instrument Creating the charge	16.06.2012
Amount secured by the charge	Rs.1.885 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest 12% per annum Terms of Repayment Amount repayable in 36 monthly installments of Rs. 0.062 Million each. Margin Rs. 0.210 Million Extent and Operation of the charge As per the agreement attached.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Honda Accord Inspire 2.4 MT Alabaster Silver Colour (petrol)

FIXED ASSETS:

· Land - Leasehold

· Land - Freehold

· Buildings - Residential

· Buildings Leasehold Land

· Roads

· Fire Fighting Equipments

· Computers and Peripherals

· Office Equipments

· Motor Cars

· Air Conditioners

· Furniture and Fixture

· Plant and Machinery

· Air Conditioner for Plant and Machinery

· Factory Equipments

Real Estate Dev. Division

· Computers and Printer

· Intangible Assets (Software)

· Air Conditioners

· Plant and Machinery

· Heavy Earth Moving Machinery

· Motor Buses and Lorries

· Office Equipments

· Laboratory Equipments

· Temporary Structures

· Furniture and Fixtures

· Office Buildings

· Motor Cars

· Electrical Fittings

· Shuttering and Scaffolding

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.55.34
UK Pound	1	Rs.86.45
Euro	1	Rs.68.04

INFORMATION DETAILS

Information Gathered by :	PJA
Report Prepared by :	VRN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	1
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	2
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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	YES
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		30

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.