MIRA INFORM REPORT

Report Date :

18.08.2012

Tel. No.:

91-124-4007710

NOTE:

The company has been shifted from old Office address

IDENTIFICATION DETAILS

Name :	BAKERS CIRCLE INDIA PRIVATE LIMITED
Registered Office :	2^nd Floor, 3, Taimoor Nagar, New Delhi – 110 065
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	05.07.2001
Com. Reg. No.:	55-111560
Capital Investment / Paid-up Capital :	Rs. 184.045 millions
CIN No.: [Company Identification No.]	U15131DL2001PTC111560
TAN No.: [Tax Deduction & Collection Account No.]	DELB07458D
PAN No.: [Permanent Account No.]	AABCB7681G
Legal Form :	Private Limited Liability Company
Line of Business :	Supplier and manufacturer of bakery products, frozen dough, frozen desserts- based products.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (31)

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

Maximum Credit Limit :	USD 530000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. There appear accumulated losses recorded by the company. However, trade relation are reported to be fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some caution.

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
Rating	BBB- (Long Term Rating)
Rating Explanation	Having moderate degree of safety regarding timely servicing financial obligation it carry moderate credit risk.
Date	9^th August, 2012

Rating Agency Name	CARE
Rating	A3
Rating Explanation	Having moderate degree of safety regarding timely payment of financial obligation it carry higher credit risk.
Date	9^th August, 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 Office :	2^nd Floor, 3, Taimoor Nagar, New Delhi – 110 065, India
Tel. No.:	91-11-47328800 / 47328802
Fax No.:	91-11-47328823
E-Mail :	mcjain@bakerscircle.co.on sandeep.somani@envisioncapadvisors.com
Website :	www.bakerscicle.co.in

DIRECTORS

As on 16.09.2011

Name :

Hank Uberoi

Designation :

Additional Director

Date of Birth/Age :

10.02.1961

Date of Appointment :

23.02.2012

DIN No.:

01807181

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	U15549MH2003PTC139352	NASHIK VINTNERS PRIVATE LIMITED	DIRECTOR	06/09/2007	27/03/2007	-	ACTIVE	NO
2	U74140MH2006PTC166367	BAY CAPITAL INVESTMENT MANAGERS PRIVATE LIMITED	DIRECTOR	14/06/2007	14/06/2007	30/07/2010	ACTIVE	NO
3	U15131DL2001PTC111560	BAKERS CIRCLE (INDIA) PVT LTD	ADDITIONAL DIRECTOR	23/02/2012	23/02/2012	-	ACTIVE	NO

Name :

Dev Dharee Lall

Designation :

Managing Director and Chief Executive Officer

Address :

H-8, Maharani Bagh, New Delhi – 110 065, India

Date of Appointment :

30.11.2001

DIN No.:

00027948

PAN No.:

ABIPL0149E

Name :

Rohitasava Chand

Designation :

Nominee director

Address :

B-19, Defence Colony, New Delhi - 110024, India

Date of Appointment :

07.03.2006

DIN No.:

00011150

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	U65990MH1983PTC029837	IKHLAS INVESTMENTS AND SERVICES PVT LTD	DIRECTOR	20/04/1983	20/04/1983	-	ACTIVE	NO
2	U74899DL1981PTC011949	TRAK SERVICES PVT LTD	DIRECTOR	01/07/1985	01/07/1985	-	ACTIVE	NO
3	U74899DL1995PTC073489	YUKTI SECURITIES PRIVATE LIMITED	DIRECTOR	09/04/1999	09/04/1999	11/01/2008	ACTIVE	NO
4	L72200DL1990PLC041275	AXIS -IT&T LIMITED	DIRECTOR	01/04/2010	28/07/1999	-	ACTIVE	NO
5	U74899DL1998PLC095822	AXIS COGENT GLOBAL LIMITED	DIRECTOR	22/10/1999	22/10/1999	-	ACTIVE	NO
6	U72200MH2001PTC131059	GYANADA SOFTWARE PRIVATE LIMITED	DIRECTOR	01/03/2001	01/03/2001	-	ACTIVE	NO
7	L92114DL1982PLC014334	CYBER MEDIA (INDIA) LIMITED	DIRECTOR	09/01/2004	09/01/2004	-	ACTIVE	NO
8	U72200DL2000PTC108425	AXIS INFOWAY (INDIA) PRIVATE LIMITED	DIRECTOR	15/10/2004	15/10/2004	01/12/2008	ACTIVE	NO
9	U67120DL1989PTC038291	MADHAKI INVESTMENTS AND LEASING PRIVATE LIMITED	DIRECTOR	30/05/2005	30/05/2005	-	STRIKE OFF	NO
10	L67120MH1993PLC070709	KHANDWALA SECURITIES LIMITED	DIRECTOR	23/07/2005	23/07/2005	-	ACTIVE	NO
11	U74899DL1979PTC009527	SUMER CHAND AND COMPANY PRIVATE LIMITED	DIRECTOR	30/08/2005	30/08/2005	23/03/2009	ACTIVE	NO
12	U74899DL1989PTC036798	BMC INTERNATIONAL PRIVATE LIMITED	DIRECTOR	30/08/2005	30/08/2005	-	ACTIVE	NO
13	U74899DL1934PLC000349	BRITISH MOTOR CAR COMPANY (1934) LIMITED	DIRECTOR	30/09/2005	30/09/2005	-	ACTIVE	NO
14	U51900MH2006PTC158894	NADAL TRADING COMPANY PRIVATE LIMITED	DIRECTOR	13/07/2007	28/01/2006	02/06/2010	ACTIVE	NO
15	U51900MH2006PTC158923	PLUSTECH MERCANTILE COMPANY PRIVATE LIMITED	DIRECTOR	13/07/2007	28/01/2006	02/06/2010	ACTIVE	NO
16	U15131DL2001PTC111560	BAKERS CIRCLE (INDIA) PVT LTD	NOMINEE DIRECTOR	31/08/2006	07/03/2006	-	ACTIVE	NO
17	U55201DL2005PTC138379	SUNRYDGE KILA RESORTS PRIVATE LIMITED	DIRECTOR	07/07/2006	07/07/2006	22/03/2010	ACTIVE	NO
18	U15928MH2006PTC159281	AG MERCANTILE COMPANY PRIVATE LIMITED	DIRECTOR	13/07/2007	28/01/2007	02/06/2010	ACTIVE	NO
19	U24231CH1994PLC015100	SABOO COATINGS LIMITED	DIRECTOR	17/09/2008	10/05/2008	-	ACTIVE	NO
20	U74140KA2007PTC042619	VIEDEA CAPITAL ADVISORS PRIVATE LIMITED	DIRECTOR	25/10/2008	21/05/2008	08/12/2011	ACTIVE	NO
21	U72200DL2006PTC149932	VIENOVA TECHNOLOGY PRIVATE LIMITED	DIRECTOR	30/09/2009	07/11/2008	-	ACTIVE	NO
22	U65990MH1997PTC112707	TELECOM INVESTMENTS INDIA PRIVATE LIMITED	DIRECTOR	30/09/2009	11/09/2009	17/03/2010	ACTIVE	NO
23	U65990MH1999PTC121979	JAYKAY FINHOLDING (INDIA) PRIVATE LIMITED	ALTERNATE DIRECTOR	16/10/2009	16/10/2009	21/05/2010	ACTIVE	NO
24	U65993WB1997PLC085278	UMT INVESTMENTS LIMITED	ALTERNATE DIRECTOR	16/10/2009	16/10/2009	21/05/2010	ACTIVE	NO
25	U32202WB1995PLC069502	USHA MARTIN TELEMATICS LTD	ALTERNATE DIRECTOR	16/10/2009	16/10/2009	21/05/2010	ACTIVE	NO
26	U64202KA2001PTC029836	CADES DIGITECH PRIVATE LIMITED	DIRECTOR	28/07/2010	24/10/2009	-	ACTIVE	NO
27	U80904DL2010PTC197827	C & C EDUCATORS PRIVATE LIMITED	DIRECTOR	11/01/2010	11/01/2010	14/10/2011	ACTIVE	NO
28	U80904DL2008PTC176419	VIENOVA EDUCATION PRIVATE LIMITED	DIRECTOR	27/09/2011	06/06/2011	-	ACTIVE	NO

Name :

Aryan Shamdas Lalwani

Designation :

Nominee Director

Address :

13B Bauhinia Court, World Wide Gardens, 13 Lung Pak Street, Shatin, N.T, Hong Kong

Date of Appointment :

07.03.2006

DIN No.:

00032554

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	U15131DL2001PTC111560	BAKERS CIRCLE (INDIA) PVT LTD	NOMINEE DIRECTOR	31/08/2006	07/03/2006	-	ACTIVE	NO

Name :

Mukesh Chand Jain

Designation :

Director and Chief Executive Officer

Address :

Flat 19, Kadambari Apartments, Sector – 9, Rohini, Delhi – 110 085, India

Date of Appointment :

20.10.2003

DIN No.:

00033823

PAN No.:

ADOPJ4673K

Name :

Deepak Ishwardas Shahdadpuri

Designation :

Nominee Director

Address :

27, ST. Johns Wood Court, London

Date of Appointment :

07.03.2006

DIN No.:

00444270

Other Directorship:

Top of Form S.NO. Bottom of Form	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	U15549MH2003PTC139352	NASHIK VINTNERS PRIVATE LIMITED	DIRECTOR	26/09/2006	05/10/2005	-	ACTIVE	NO
2	U74999MH1995PTC084320	SAMANT SOMA WINES PRIVATE LIMITED	DIRECTOR	26/09/2006	05/10/2005	-	AMALGAMATED	NO
3	U74899DL1981PTC011949	TRAK SERVICES PVT LTD	DIRECTOR	14/10/2005	14/10/2005	-	ACTIVE	NO
4	U15131DL2001PTC111560	BAKERS CIRCLE (INDIA) PVT LTD	NOMINEE DIRECTOR	31/08/2006	07/03/2006	-	ACTIVE	NO
5	U74140MH2006PTC182243	BCP ADVISORS PRIVATE LIMITED	MANAGING DIRECTOR	07/11/2006	07/11/2006	-	ACTIVE	NO
6	U67190MH2007PTC171846	BAER CAPITAL PARTNERS (INDIA) PRIVATE LIMITED	DIRECTOR	20/06/2007	20/06/2007	-	UNDER LIQUIDATION	NO
7	U74140DL2007PTC165045	BVM ADVISORS PRIVATE LIMITED	DIRECTOR	28/09/2007	28/09/2007	07/08/2008	ACTIVE	NO
8	U92120MH2001PTC131164	IMPRESARIO ENTERTAINMENT AND HOSPITALITY PRIVATE LIMITED	NOMINEE DIRECTOR	04/03/2008	04/03/2008	-	ACTIVE	NO
9	U22110TN2004PTC052565	NEW HORIZON MEDIA PRIVATE LIMITED	DIRECTOR	21/04/2008	21/04/2008	18/05/2011	ACTIVE	NO
10	U74899DL1979PTC009500	BHAYANA BUILDERS PRIVATE LIMITED	NOMINEE DIRECTOR	27/05/2008	27/05/2008	-	ACTIVE	NO
11	U74899DL1998PLC094773	VATIKA LIMITED	ALTERNATE DIRECTOR	17/12/2010	09/03/2009	24/03/2011	ACTIVE	NO
12	U51909WB2009PTC136998	INDOSTAR CAPITAL FINANCE PRIVATE LIMITED	DIRECTOR	23/09/2011	28/04/2011	-	ACTIVE	NO
13	U15122MH2011PTC222280	TWIN PEAKS BEVERAGES PRIVATE LIMITED	DIRECTOR	22/09/2011	22/09/2011	-	ACTIVE	NO

MAJOR SHAREHOLDERS

As on 15.09.2010

Names of Shareholders (Equity Shareholders)	No. of Shares
Dev Dharee Lall	235000
Sheila Lall	723000
Dev Lall, Karta HUF	1237000
Mukesh Chand Jain	15000
GIA(BCI) Holdings Limited, Maurititius	1
TOTAL	2210001

As on 15.09.2010

Names of Shareholders (Preference Shareholders)	No. of Shares
GIA(BCI) Holdings Limited, Maurititius	6322476
Yukti Securities Private Limited, India	1582249
Arjan Shamdas Lalwani	1184335
Dev Lall, Karta HUF	3544052
Sheila Lall	315000
Dev Lall	32754
Mukesh Chand Jain	10000
TOTAL	12990866

Equity Share Break up (Percentage of Total Equity)

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	40.42
Bodies corporate	8.51
Directors or relatives of Directors	51.07
Total	100.00

BUSINESS DETAILS

Line of Business :

Supplier and manufacturer of bakery products, frozen dough, frozen desserts- based products.

Products :

Item Code No. (ITC No.)	Product Description
19012000	MFG of Frozen Dough
19050000	Manufacturing of Cakes and Desserts.

· Asian Foods

· Baker’s Worktables

· Bakers Cheese

· Boston Cream Pies

· Breads

· Cakes

· Cheesecake

· Chinese Hot Pot Restaurants

· Coffee Cakes

· Croissants

· Danish breakfast Pastries

· Food Measuring Equipment

· Food Preparation Tables

· Food Services

· Food Scales

· Ice Cream Pies

· Pies

· Rice Cakes

· Toasted Breads

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· State Bank of India, Main Branch, Railway Station Road, Kashipur, Udham Singh Nagar – 244 713, Uttarakhand, India

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Rupee Term Loans	22.882	9.946
Total	22.882	9.946

Banking Relations :	--
Auditors :
Name :	B S S R and Company Chartered Accountants
Address :	Building No. 10, 8^th Floor, Tower – B, DLF Cyber City, Phase – II, Gurgaon – 122 002, India
PAN No.:	AAKFB4430H
Associates/Subsidiaries :	· GIA (BCI) Holdings Limited

CAPITAL STRUCTURE

As on 16.09.2011

Authorized Capital:

No. of Shares	Type	Value	Amount
2500000	Equity Shares	Rs. 10/- each	Rs. 25.000 millions
18000000	Preference shares	Rs. 10/- each	Rs.180.000 millions
	TOTAL		Rs. 205.000 millions

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
2210001	Equity Shares	Rs. 10/- each	Rs. 22.100 millions
14663240	Preference shares	Rs. 10/- each	Rs. 146.632 millions
	TOTAL		Rs. 168.732 millions

As on 31.03.2011

Authorized Capital:

No. of Shares	Type	Value	Amount
2500000	Equity Shares	Rs. 10/- each	Rs. 25.000 millions
18000000	Preference shares	Rs. 10/- each	Rs.180.000 millions
	TOTAL		Rs. 205.000 millions

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
2210001	Equity Shares	Rs. 10/- each	Rs. 22.100 millions
13596849	Preference shares	Rs. 10/- each	Rs. 135.968 millions
	TOTAL		Rs. 158.068 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		158.068	152.009	152.009
2] Share Application Money		5.909	0.955	0.000
3] Reserves & Surplus		12.500	12.500	6.750
4] (Accumulated Losses)		(43.547)	(52.970)	(55.578)
NETWORTH		132.930	112.494	103.181
LOAN FUNDS
1] Secured Loans		22.882	9.946	9.310
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		22.882	9.946	9.310
DEFERRED TAX LIABILITIES		3.503	0.000	0.000
TOTAL		159.315	122.440	112.491
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		98.692	88.846	88.603
Capital work-in-progress		0.000	0.000	1.580
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	38.618	17.487	9.763
	Sundry Debtors	42.078	40.299	16.542
	Cash & Bank Balances	13.995	3.510	3.026
	Other Current Assets	0.031	0.109	0.000
	Loans & Advances	3.372	3.574	1.950
Total Current Assets		98.094	64.979	31.281
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	33.343	25.116	5.065
	Other Current Liabilities	0.737	6.461	6.490
	Provisions	3.393	2.810	1.923
Total Current Liabilities		37.473	34.387	13.478
Net Current Assets		60.621	30.592	17.803
MISCELLANEOUS EXPENSES		0.000	3.002	4.505
TOTAL		159.315	122.440	112.491

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	270.292	141.429	98.410
		Other Income	10.240	5.324	0.578
		TOTAL (A)	280.532	146.753	98.988
Less	EXPENSES
		Other Expenses	255.296	138.381
		TOTAL (B)	255.296	138.381	106.130
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		25.236	8.372	(7.142)
Less	FINANCIAL EXPENSES (D)		1.954	1.476	2.006
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		23.282	6.896	(9.148)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		10.356	4.288	5.132
	PROFIT BEFORE TAX (E-F) (G)		12.926	2.608	(14.280)
Less	TAX (H)		0.000	0.000	0.000
	PROFIT AFTER TAX (G-H) (I)		12.926	2.608	(14.208)
	Earnings Per Share / (Loss) (Rs.)		4.26	1.18	(1.82)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.00	1.77	(14.42)
Net Profit Margin (PBT/Sales)	(%)	4.78	1.84	(14.51)
Return on Total Assets (PBT/Total Assets}	(%)	6.57	0.02	(0.12)
Return on Investment (ROI) (PBT/Networth)		0.09	0.02	(0.14)
Debt Equity Ratio (Total Liability/Networth)		0.45	0.39	0.22
Current Ratio (Current Asset/Current Liability)		2.61	1.89	2.32

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

Highlight Current operations

The turnover is Rs.270.292 millions as compared to the previous year of Rs.141.429 millions. The growth in sales is about 91 percent. Increase in miscellaneous income mainly represents recovery of delivery charges against which selling expenses has been incurred. The company continued to keep its hubs at Hyderabad, Bangalore, Gujarat, and New Delhi at limited scale. The Company has earned profits in the current year.

NOTE:

Registered office of the company has been shifted from H – 8, Maharani bagh, New Delhi – 110065, India to the present address w.e.f. 25.02.2010

Bankers Charges Report as per Registry

Corporate identity number of the company	U15131DL2001PTC111560
Name of the company	BAKERS CIRCLE (INDIA) PVT LTD
Address of the registered office or of the principal place of business in India of the company	2nd Floor, 3 Taimoor Nagar, New Delhi – 110065, India e-mail: mcjain@bakerscircle.co.in
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10084622
Type of charge	Immovable Property Book Debts Movable property (not being pledge)
Particular of charge holder	Nationalised bank, Main Branch, Railway Station Road, Kashipur, Udham Singh Nagar, Uttarakhand, 244 719, India e-mail; sbi.00668@sbi.co.in
Nature of instrument creating charge	1. Agreement of Loan Cum Hypothecation 2. Letter of Arrangement 3. Memorandum for recording extension of mortgage by deposit of title deeds
Date of instrument Creating the charge	01.05.2012
Amount secured by the charge	Rs. 56.100 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest to be charged @ 5.50% margin above the Base Rate. Present effective rate 15.50% p.a.with monthly rests or at such other rates as may be notified by the Bank to the Borrower from time to time. Terms of Repayment (i)Term Loan-I - As per existing repayment schedule. (ii) Term Loan-II of Rs.50.000 Millions shall be repayable in 48 equal monthly installments of Rs.1.042 Millions each. Interest will be serviced as and when applied. (iii)Term Loan-III of Rs.5.000 Millions shall be repayable in 48 monthly installments, 47 installments will be of Rs.0.104 Millions each and last 47th installment will be of Rs.0.112 Millions. Interest will be serviced as and when applied. Margin 83.33% Extent and Operation of the charge The Company's movable and immovable properties are hypothecated and mortgaged to secure following Term Loans aggregating to Rs.56.100 Millions granted by the Bank to the Borrower:- 1. Term Loan-I Rs. 1.100 Millions(o/s) 2.Term Loan-II Rs. 50.000 Millions 3. Term Loan-III Rs. 5.000 Millions TOTAL Rs. 56.100 Millions
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Exclusive charge on entire current assets including all present & future stocks of raw materials, goods, vehicles & all other movables assets of Borrower wherever lying, stored, kept or in transit Hypothecation of all the Borrower's Book Debts, receivables, documents of title to goods, outstanding monies, bills, invoices, documents, contracts, guarantee, securities, engagement investments and rights etc. Hypothecation of all present and future machinery and entire fixed assets belonging to or in the possession or control of the Borrower wherever lying, stored, kept or in transit. Equitable mortgage by deposit of title deeds of immovable properties being land & building situated at Khasra No. 99/1 Min Nand Nagar Industrial Estate, Mahuakheraganj, Kashipur, U. S. Nagar area 0.607 hectare. Equitable Mortgage by deposit of title deeds of immovable properties being land & building situated at Khasra No. 101 & 102 total area 0.1072 Hectare at Industrial Estate, Mahuakheraganj, Kashipur
Date of instrument modifying the charge	18.11.2010
Particulars of the present modification	Term Loan of Rs.4.155 Millions has now been reduced to Rs.1.100 Millions and Bank has granted new Term Loan of Rs.50.000 Millions and 5.000 Millions. Therefore, total amount of charge secured against hypothecation of entire current assets, stocks, book debts, plant and machinery & fixed assets etc. & equitable mortgage of immovable properties has now been enhanced from Rs.4.155 Millions to Rs.56.100 Millions.

FIXED ASSETS:

· Land

· Factory Building

· Improvement to Leasehold

· Premises

· Furniture and Fixtures

· Plant and machinery

· Vehicle

· Research and Development

· Capital Work-in-progress

· Software Purchase and Implementation

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 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 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.55.70
UK Pound	1	Rs.87.54
Euro	1	Rs.68.85

INFORMATION DETAILS

Report Prepared by :

NID

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		31

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.