MIRA INFORM REPORT

Report Date :

16.08.2012

IDENTIFICATION DETAILS

Name :	HAZEL METALS AND MINERALS PRIVATE LIMITED
Registered Office :	701, Embassy Centre, Nariman Point, Mumbai - 400021, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	29.09.2005
Com. Reg. No.:	11-156446
Capital Investment / Paid-up Capital :	Rs. 30.000 Millions
CIN No.: [Company Identification No.]	U51420MH2005PTC156446
TAN No.: [Tax Deduction & Collection Account No.]	MUMH09449G
PAN No.: [Permanent Account No.]	AAFCA2740R
Legal Form :	Private Limited Liability Company
Line of Business :	Importing and Trading in Metals, Paper, Chemicals, Iron Ore and Power Generation etc.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba [45]

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

Maximum Credit Limit :	USD 590000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an 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 / with some cautions.

NOTES :

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

ECGC Country Risk Classification List – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Long Term Rating	[CARE] BBB
Rating Explanation	Having Moderate degree of safety regarding timely servicing of financial obligation it carry moderate credit risk.
Date	April, 2012

Rating Agency Name	CARE
Short Term Rating	[CARE] A1
Rating Explanation	Having very strong degree of safety regarding timely payment of financial obligation.
Date	April, 2012

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.

LOCATIONS

Registered and Corporate Office :	701, Embassy Centre, Nariman Point, Mumbai - 400021, Maharashtra, India
Tel. No.:	91-22-22824444/ 40098900
Fax No.:	91-22-22824440/ 22041411
E-Mail :	hmetals29.09.2005@gmail.com info@hazelmetal.com
Website :	http://www.hazelmetal.com
Marketing Office :	1410, Maker Chamber V, Nariman Point, Mumbai – 400021, Maharashtra, India
Tel. No.:	91-22-22832170 (5 Lines)
Fax No.:	91-22-22821605
E-Mail :	mktg@hmlindia.com
Branches :	Located at: · Delhi · Kolkata · Vishakhapatnam · Gandhidham · Cochin

DIRECTORS

AS ON 30.09.2011

Name :

Mr. Nitin Kumar Deendayal Didwania

Designation :

Director

Address :

172, Kshitij, 47, Nepeansea Road, Mumbai – 400036, Maharashtra, India

Date of Birth/Age :

23.06.1974

Date of Appointment :

29.09.2005

DIN No.:

00210289

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U99999MH1994PTC082808	VERITAS PROPERTIES PRIVATE LIMITED	Director	11/11/1994	11/11/1994	-	Active	NO
2	U65990MH1994PLC082813	VERITAS INVESTMENTS LIMITED	Director	11/11/1994	11/11/1994	-	Active	NO
3	U65990MH1995PTC095594	REVIVE SECURITIES PRIVATE LIMITED	Director	12/02/1996	12/02/1996	-	Active	NO
4	U65900MH1996PLC099279	INDIA FINTRADE LIMITED	Director	21/05/1996	21/05/1996	-	Active	NO
5	U51900MH1995PLC093674	HAZEL MERCANTILE LIMITED	Managing director	01/04/1997	01/04/1997	-	Active	NO
6	U51900MH1996PTC104099	SANMAN TRADE IMPEX PRIVATE LIMITED	Director	12/04/1999	12/04/1999	-	Active	NO
7	U67120MH1996PTC097863	PRICELESS INVESTRADE PRIVATE LIMITED	Director	12/04/1999	12/04/1999	-	Active	NO
8	U65990MH1996PTC102669	TRIDENT FINTRADE PRIVATE LIMITED	Director	02/04/2001	02/04/2001	-	Active	NO
9	U51900MH1996PTC104063	EBEN TRADE IMPEX PRIVATE LIMITED	Director	01/08/2001	01/08/2001	-	Active	NO
10	U32303MH1990PTC055793	RHYTHM CREATORS PRIVATE LIMITED	Director	12/05/2003	12/05/2003	-	Active	NO
11	U51909MH2004PTC145098	PRAKRUTI IMPORT EXPORT PRIVATE LIMITED	Director	16/03/2004	16/03/2004	-	Active	NO
12	U51390MH2004PTC145298	EFFIN IMPORT EXPORT PRIVATE LIMITED	Director	24/03/2004	24/03/2004	-	Active	NO
13	U72900MH2004PLC146236	HAZEL INFOTECH LIMITED	Director	12/05/2004	12/05/2004	-	Active	NO
14	U51909MH2005PTC154481	ASPEN INTERNATIONAL PRIVATE LIMITED	Director	05/07/2005	05/07/2005	-	Active	NO
15	U70100MH2005PTC151379	AVID PROPERTIES PRIVATE LIMITED	Director	05/08/2005	05/08/2005	-	Active	NO
16	U70100MH2005PTC151367	GRACIOUS REAL ESTATES PRIVATE LIMITED	Director	05/08/2005	05/08/2005	-	Active	NO
17	U51420MH2005PTC156446	HAZEL METALS AND MINERALS PRIVATE LIMITED	Director	29/09/2005	29/09/2005	-	Active	NO
18	U51909MH2005PTC151378	CLAIRVOYANT TRADE IMPEX PRIVATE LIMITED	Director	28/10/2005	28/10/2005	-	Active	NO
19	U65990MH1996PTC103255	VERTEX FINTRADE PRIVATE LIMITED	Director	31/03/2006	31/03/2006	27/04/2007	Active	NO
20	U51909MH2006PTC161460	COUNTY TRADE IMPEX PRIVATE LIMITED	Director	28/04/2006	28/04/2006	-	Active	NO
21	U63090MH2006PTC161463	HAZEL LOGISTICS PRIVATE LIMITED	Director	28/04/2006	28/04/2006	-	Active	NO
22	U51909MH2006PTC161459	SHIMMER TRADE IMPEX PRIVATE LIMITED	Director	28/04/2006	28/04/2006	-	Active	NO
23	U51909MH2006PTC161464	MATIN EXIM PRIVATE LIMITED	Director	28/04/2006	28/04/2006	-	Active	NO
24	U70100MH2006PTC161465	SEARS REAL ESTATES PRIVATE LIMITED	Director	28/04/2006	28/04/2006	-	Active	NO
25	U70100MH2006PTC161461	UDESHYA PROPERTIES PRIVATE LIMITED	Director	28/04/2006	28/04/2006	04/01/2012	Active	NO
26	U23209MH2006PLC166626	BIOFUELS (VERITAS) LIMITED	Director	29/12/2006	29/12/2006	-	Active	NO
27	U45200MH2007PTC167839	VERITAS INFRASTRUCTURE DEVELOPMENT LIMITED	Director	13/02/2007	13/02/2007	-	Active	NO
28	U01403MH2007PTC168117	VERITAS AGRO VENTURES PRIVATE LIMITED	Director	24/02/2007	24/02/2007	-	Active	NO
29	L23209MH1985PLC035702	VERITAS (INDIA) LIMITED	Director	05/12/2007	05/12/2007	-	Active	NO
30	U67190MH1996PTC103717	ARISTO FINCAP PRIVATE LIMITED	Additional director	01/02/2008	01/02/2008	-	Active	NO
31	U51109MH2008PLC182189	GROUPE VERITAS LIMITED	Director	14/05/2008	14/05/2008	-	Active	NO
32	U45202MH2008PLC182355	HAZEL INFRA LIMITED	Director	17/05/2008	17/05/2008	-	Active	NO
33	U51909MH2005PTC151366	DIVA TRADE IMPEX PRIVATE LIMITED	Additional director	20/02/2010	20/02/2010	-	Active	NO
34	U52390MH2009PTC192131	ONTIME TRADE IMPEX PRIVATE LIMITED	Additional director	17/03/2010	17/03/2010	-	Active	NO
35	U51909WB2009PTC135084	TITLY BARTER PRIVATE LIMITED	Additional director	19/07/2010	19/07/2010	-	Active	NO
36	U51909MH2005PTC152105	ASTER IMPEX PRIVATE LIMITED	Additional director	23/07/2010	23/07/2010	-	Active	NO
37	U55101MH2007PTC170599	NERINE RESORT PRIVATE LIMITED	Director	11/09/2010	11/09/2010	-	Active	NO
38	U01403MH2010PTC209773	SAINATH AGRICULTURE PRIVATE LIMITED	Director	03/11/2010	03/11/2010	-	Active	NO
39	U01403MH2010PTC209989	BHUMIPUTRA AGRO PRIVATE LIMITED	Director	12/11/2010	12/11/2010	-	Active	NO
40	U70102MH2010PTC210721	KAMYAB PROPERTIES PRIVATE LIMITED	Director	07/12/2010	07/12/2010	-	Active	NO
41	U45202MH2010PTC210683	AAFREEN PROPERTIES PRIVATE LIMITED	Director	07/12/2010	07/12/2010	17/03/2012	Active	NO
42	U01403MH2010PTC210812	VISHWA AGRICULTURE PRIVATE LIMITED	Director	08/12/2010	08/12/2010	-	Active	NO
43	U01403MH2010PTC210809	ZAMEEN AGRO PRIVATE LIMITED	Director	08/12/2010	08/12/2010	-	Active	NO
44	U01403MH2010PTC210804	KUDRAT FARMING PRIVATE LIMITED	Director	08/12/2010	08/12/2010	-	Active	NO
45	U01403MH2010PTC211346	SHUBH LABH AGRICULTURE PRIVATE LIMITED	Director	24/12/2010	24/12/2010	-	Active	NO
46	U45202MH2011PTC211769	AFFLUENT PROPERTIES PRIVATE LIMITED	Director	03/01/2011	03/01/2011	-	Active	NO
47	U45400MH2011PTC211767	GLISTENING PROPERTIES PRIVATE LIMITED	Director	03/01/2011	03/01/2011	-	Active	NO
48	U01403MH2011PTC212396	VIDHATA FARMING PRIVATE LIMITED	Director	17/01/2011	17/01/2011	-	Active	NO
49	U01404MH2011PTC212659	BEST FARMING PRIVATE LIMITED	Director	22/01/2011	22/01/2011	-	Active	NO
50	U01403MH2011PTC212664	BHOOMI FARMING PRIVATE LIMITED	Director	24/01/2011	24/01/2011	-	Active	NO
51	U01403MH2011PTC212691	FASAL FARMING PRIVATE LIMITED	Director	25/01/2011	25/01/2011	-	Active	NO
52	U01122MH2011PTC212914	MOTHER NATURE AGRICOM PRIVATE LIMITED	Director	01/02/2011	01/02/2011	-	Active	NO
53	U01403MH2011PTC212913	KAMYAB FARMS PRIVATE LIMITED	Director	01/02/2011	01/02/2011	-	Active	NO
54	U01403MH2011PTC212909	GOLDEN ARROW AGRO PRIVATE LIMITED	Director	01/02/2011	01/02/2011	-	Active	NO
55	U01500MH2011PTC212872	DHARNIDHAR AGRICULTURE PRIVATE LIMITED	Director	01/02/2011	01/02/2011	-	Active	NO
56	U01500MH2011PTC212869	HARYALI FARMING PRIVATE LIMITED	Director	01/02/2011	01/02/2011	-	Active	NO
57	U51909MH2011PTC213132	TRITON INTERNATIONAL PRIVATE LIMITED	Director	07/02/2011	07/02/2011	04/01/2012	Active	NO
58	U01403MH2011PTC213150	GOLDCROP AGRO PRIVATE LIMITED	Director	07/02/2011	07/02/2011	-	Active	NO
59	U70109MH2011PTC213831	VERITAS HOUSING DEVELOPMENT PRIVATE LIMITED	Director	21/02/2011	21/02/2011	-	Active	NO
60	U01403MH2011PTC215010	DHARNI FARMING PRIVATE LIMITED	Director	19/03/2011	19/03/2011	-	Active	NO
61	U01403MH2011PTC215009	KRUSHI FARMING PRIVATE LIMITED	Director	19/03/2011	19/03/2011	-	Active	NO
62	U01403MH2011PTC216554	DHARA FARMING PRIVATE LIMITED	Director	21/04/2011	21/04/2011	-	Active	NO
63	U70102MH2011PTC219072	VERITAS HABITATS PRIVATE LIMITED	Director	24/06/2011	24/06/2011	-	Active	NO
64	U65900MH2011PTC224947	SANCHAY INVESTMENTS PRIVATE LIMITED	Director	14/12/2011	14/12/2011	-	Active	NO

Name :

Mr. Ashwin Babulal Gandhi

Designation :

Director

Address :

Highway Park, E/5, Flat No. 606, Thakur Complex, Kandivali (East), Mumbai – 400101, Maharashtra, India

Date of Birth/Age :

09.09.1960

Date of Appointment :

25.07.2006

DIN No.:

00656519

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U51420MH2005PTC156446	HAZEL METALS AND MINERALS PRIVATE LIMITED	Director	25/07/2006	25/07/2006	-	Active	NO
2	U65920MH1996PTC103235	EMERALD FINTRADE PRIVATE LIMITED	Director	25/07/2006	25/07/2006	25/07/2011	Active	NO
3	U51909MH2005PTC154481	ASPEN INTERNATIONAL PRIVATE LIMITED	Director	25/07/2006	25/07/2006	10/06/2011	Active	NO
4	U67120MH1993PTC073771	ARBITRIUM FINVEST PRIVATE LIMITED	Director	25/07/2006	25/07/2006	25/07/2011	Active	NO
5	U67190MH1996PTC103717	ARISTO FINCAP PRIVATE LIMITED	Director	25/07/2006	25/07/2006	01/08/2011	Active	NO

Name :

Mr. Kunal Suresh Sharma

Designation :

Additional director

Address :

12, Bhule Heaven Mount Pleasant Road, Malabar Hill, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

10.08.1969

Date of Appointment :

10.06.2011

DIN No.:

03553398

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U67120MH1993PTC073771	ARBITRIUM FINVEST PRIVATE LIMITED	Additional director	10/06/2011	10/06/2011	Active	NO
2	U65920MH1996PTC103235	EMERALD FINTRADE PRIVATE LIMITED	Additional director	10/06/2011	10/06/2011	Active	NO
3	U51909MH2005PTC154481	ASPEN INTERNATIONAL PRIVATE LIMITED	Additional director	10/06/2011	10/06/2011	Active	NO
4	U51420MH2005PTC156446	HAZEL METALS AND MINERALS PRIVATE LIMITED	Additional director	10/06/2011	10/06/2011	Active	NO
5	U67190MH1996PTC103717	ARISTO FINCAP PRIVATE LIMITED	Additional director	05/07/2011	05/07/2011	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders	No. of Shares
Nitin Kumar Dindayal Didwania	2995000
Sushmadevi Dindayal Didwania	5000
Total	3000000

AS ON 30.09.2011

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Importing and Trading in Metals, Paper, Chemicals, Iron Ore and Power Generation etc.

PRODUCTION STATUS AS ON (31.03.2010)

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Electricity Generation	Units	--	5,256,000	636,065.26

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

State Bank of Hyderabad, Overseas Branch, Ashok Mahal, 1204, Tulloch Road, Colaba, Mumbai - 400039, Maharashtra, India

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Rupee term loans banks secured	17.286	20.429
Rupee term loans others secured	97.591	99.857
Total	114.877	120.286
Unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Loans directors unsecured	22.273	27.291
Total	22.273	27.291

Banking Relations :	--
Auditors :
Name :	G.R Modi and Company Chartered Accountants
Address :	12,Laxminarayan Shopping Centre, Poddar Road, Malad-East, Mumbai, Maharashtra, India
Tel. No.:	91-22-28884274
Fax No.:	91-22-28819304
E-Mail :	modiswapnil@mtnl.net.in
Income-tax PAN of auditor or auditor's firm :	AADFG7980N

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
3,000,000	Equity Shares	Rs. 10/- each	Rs.30.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3,000,000	Equity Shares	Rs. 10/- each	Rs.30.000 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		30.000	30.000	30.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		118.560	69.697	42.631
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		148.560	99.697	72.631
LOAN FUNDS
1] Secured Loans		114.877	120.286	48.443
2] Unsecured Loans		22.273	27.291	35.154
TOTAL BORROWING		137.150	147.577	83.597
DEFERRED TAX LIABILITIES		6.552	6.872	3.943
TOTAL		292.262	254.146	160.171
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		21.610	25.335	29.673
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		12.182	12.377	9.842
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	82.475	68.061	76.086
	Sundry Debtors	385.432	330.106	274.539
	Cash & Bank Balances	42.364	23.414	13.343
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	46.928	33.153	19.710
Total Current Assets		557.199	454.734	383.678
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	281.825	230.105	256.540
	Other Current Liabilities	0.000	0.000	0.000
	Provisions	17.080	8.393	6.702
Total Current Liabilities		298.905	238.498	263.242
Net Current Assets		258.294	216.236	120.436
MISCELLANEOUS EXPENSES		0.176	0.198	0.220
TOTAL		292.262	254.146	160.171

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income from Operations		1619.997	1145.998
		Other Income		2.695	1.060
		TOTAL	2052.805	1622.692	1147.058
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	2010.360	1585.117	1117.998
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		42.445	37.575	29.060
Less/ Add	DEPRECIATION/ AMORTISATION		3.827	4.474	0.080
	PROFIT BEFORE TAX		38.618	33.101	28.980
Less	TAX		4.767	6.036	6.459
	PROFIT AFTER TAX		33.851	27.065	22.521
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		69.697	42.632	20.111
	BALANCE CARRIED TO THE B/S		103.548	69.697	42.632
	IMPORTS
		CIF Value of Imports	141.431	252.944	162.666
	Earnings Per Share (Rs.)		11.28	9.02	11.20

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.65	1.67	1.96
Net Profit Margin (PBT/Sales)	(%)	N.A	2.04	2.53
Return on Total Assets (PBT/Total Assets}	(%)	6.67	6.90	7.01
Return on Investment (ROI) (PBT/Networth)		0.26	0.33	0.40
Debt Equity Ratio (Total Liability/Networth)		2.94	3.87	4.78
Current Ratio (Current Asset/Current Liability)		1.86	1.91	1.46

LOCAL AGENCY FURTHER INFORMATION

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	No
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
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	Yes

WORKING RESULTS

During the year, the Company has achieved turnover of Rs. 2052.805 Millions as compared to Rs. 1622.692 Millions during the previous year resulting in revenue growth of 26.51% The Company has made net profit of Rs. 33.851 Millions as against Rs. 27.065 Millions in the previous year, an increase of 25.07%. After making adjustment of brought forward profit of Rs. 69.697 Millions the balance profit of Rs. 103.547 Millions in the Profit and Loss Account has been carried over to the Balance Sheet.

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U51420MH2005PTC156446
Name of the company	HAZEL METALS AND MINERALS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	701 Embassy Centre, Nariman Point, Mumbai – 400021, Maharashtra, India
This form is for	Modification of charge
Charge identification number of the modified	10008650
Type of charge	Book Debts Movable Property Floating Charge
Particular of charge holder	State Bank Of Hyderabad, Overseas Branch, Ashok Mahal, 1204, Tulloch Road, Colaba, Mumbai - 400039, Maharashtra, India Email ID: vlaxman@vsnl.com
Nature of description of the instrument creating or modifying the charge	Supplemental Agreement of Hypothecation of Goods and Assets for increase in the Overall Limit
Date of instrument Creating the charge	07.06.2012
Amount secured by the charge	Rs.950.000 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest as may be stipulated by the bank from time to time. Terms of Repayment On demand Margin 25% against Finished goods 30% against Book Debts/receivables Extent and Operation of the charge Hypothecation by way of First charge of all Current Assets as specified in Item No.15 as security for repayment and discharge by the Borrower to the Bank on demand of the principal and all other moneys at any time payable by the Borrower to the Bank. Others Nil
Short particulars of the property charged	Hypothecation of present and future Goods, Book-Debts and other Movable Assets of the Company.
Date of latest modification prior to the present modification	19.04.2011
Particulars of the present modification	The charge is now increased from Rs. 700.000 millions to Rs.950.000 millions, in favour of State Bank of Hyderabad.

FIXED ASSETS :

· Land

· Computer System

· Weight Scale

· Wind Mill

· Air Condition

· Xerox Machine

· Telephone System

·

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. 55.64
UK Pound	1	Rs. 87.31
Euro	1	Rs. 68.81

INFORMATION DETAILS

Report Prepared by :

BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		45

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

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.