MIRA INFORM REPORT

Report Date :

06.12.2012

IDENTIFICATION DETAILS

Name :	ROCKLAND HOSPITALS LIMITED
Registered Office :	B-33-34, Qutab Institutional Area, New Delhi - 110016
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	04.08.2004
Com. Reg. No.:	55-128077
Capital Investment / Paid-up Capital :	Rs.246.401 Millions
CIN No.: [Company Identification No.]	U85110DL2004PLC128077
TAN No.: [Tax Deduction & Collection Account No.]	DELR14983D
PAN No.: [Permanent Account No.]	AACCR4709E
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	The Company is engaged in the business of providing Healthcare Services
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 8100000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Latest financials i.e. 2011-12 are missing from the government department. Form the financials of 2011 it seems that there appears some accumulated losses recorded by the company. However, trade relations are reported as fair. Business is active. Payments are reported to be slow. 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

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	Fund Based Facilities = BB+
Rating Explanation	The inadequate credit quality. It carry high credit risk
Date	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 :	B-33-34, Qutab Institutional Area, New Delhi - 110016, India
Tel. No.:	91-11-47667100 / 41222222 / 47667100 to 499
Fax No.:	91-11-41688758
E-Mail :	finance@rocklandhospital.net info@rocklandhospital.net
Website :	http://www.rocklandhospital.net

DIRECTORS

As on 03.08.2012

Name :

Mr. Pradeep Kumar Dave

Designation :

Director

Address :

A-8, Sector - 26, Noida – 201301, Uttar Pradesh, India

Date of Birth/Age :

26.06.1939

Qualification :

M.B.B.S., M.S., F.I.C.S., F.I.M.S.A., F.A.M.S.

Date of Appointment :

11.08.2008

DIN No.:

00229672

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	U80222DL2005PTC144157	ROCKLAND INSTITUTE OF RESEARCH AND EDUCATION PRIVATE LIMITED	Director	28-12-05	28-12-05	-	Active	NO
2	U74899DL2006NPL144824	VISHWAS VISION FOR HEALTH. WELFARE AND SPECIAL NEEDS	Director	30-09-08	22-01-08	-	Active	NO
3	U85110DL2004PLC128077	ROCKLAND HOSPITALS LIMITED	Director	11-08-08	17-05-08	-	Active	NO

Name :

Mr. Prabhat Kumar Srivastava

Designation :

Managing Director

Address :

B-31, Somi Nagar, New Delhi, India

Date of Birth/Age :

30.11.1961

Qualification :

B.Com

Date of Appointment :

01.03.2010

DIN No.:

00524482

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	U74899DL1993PTC053645	SOMYA CONSTRUCTIONS PRIVATE LIMITED	Director	19-05-93	19-05-93	02-01-09	Active	NO
2	U85110DL2004PLC128077	ROCKLAND HOSPITALS LIMITED	Managing director	01-03-10	16-08-04	-	Active	NO
3	U55101DL2005PLC143881	ROCKLAND HOTELS LIMITED	Director	21-12-05	21-12-05	-	Active	NO
4	U80222DL2005PTC144157	ROCKLAND INSTITUTE OF RESEARCH AND EDUCATION PRIVATE LIMITED	Director	28-12-05	28-12-05	-	Active	NO
5	U85110DL2007PLC158985	ROCKLAND HOSPITALS (QUTAB) LIMITED	Director	08-02-07	08-02-07	-	Active	NO
6	U32204DL2006PTC157069	ROCKLAND MEDIA AND COMMUNICATION PRIVATE LIMITED	Director	30-01-08	30-01-08	16-05-11	Active	NO
7	U45200DL2008PLC174937	ROCK LAND LIMITED	Director	05-03-08	05-03-08	-	Active	NO

Name :

Mr. Rajesh Kumar Srivastava

Designation :

Managing Director

Address :

B-31, Some Nagar, New Delhi, India

Date of Birth/Age :

20.02.1959

Qualification :

B.Com

Date of Appointment :

01.03.2010

DIN No.:

00524536

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	U74899DL1993PTC053645	SOMYA CONSTRUCTIONS PRIVATE LIMITED	Director	19-05-93	19-05-93	02-01-09	Active	NO
2	U85110DL2004PLC128077	ROCKLAND HOSPITALS LIMITED	Managing director	01-03-10	16-08-04	-	Active	NO
3	U55101DL2005PLC143881	ROCKLAND HOTELS LIMITED	Director	21-12-05	21-12-05	-	Active	NO
4	U80222DL2005PTC144157	ROCKLAND INSTITUTE OF RESEARCH AND EDUCATION PRIVATE LIMITED	Director	28-12-05	28-12-05	-	Active	NO
5	U32204DL2006PTC157069	ROCKLAND MEDIA AND COMMUNICATION PRIVATE LIMITED	Director	27-12-06	27-12-06	16-05-11	Active	NO
6	U85110DL2007PLC158985	ROCKLAND HOSPITALS (QUTAB) LIMITED	Director	08-02-07	08-02-07	-	Active	NO
7	U45200DL2008PLC174937	ROCK LAND LIMITED	Director	05-03-08	05-03-08	-	Active	NO

Name :

Mr. Rishi Kumar Srivastava

Designation :

Director

Address :

B-31, Some Nagar, New Delhi, India

Date of Birth/Age :

04.05.1968

Qualification :

B.Com

Date of Appointment :

01.04.2009

DIN No.:

00524588

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	U74899DL1993PTC053645	SOMYA CONSTRUCTIONS PRIVATE LIMITED	Director	19-05-93	19-05-93	02-01-09	Active	NO
2	U85110DL2004PLC128077	ROCKLAND HOSPITALS LIMITED	Director	16-08-04	16-08-04	-	Active	NO
3	U55101DL2005PLC143881	ROCKLAND HOTELS LIMITED	Managing director	01-04-09	21-12-05	-	Active	NO
4	U80222DL2005PTC144157	ROCKLAND INSTITUTE OF RESEARCH AND EDUCATION PRIVATE LIMITED	Director	28-12-05	28-12-05	-	Active	NO
5	U85110DL2007PLC158985	ROCKLAND HOSPITALS (QUTAB) LIMITED	Director	08-02-07	08-02-07	-	Active	NO
6	U32204DL2006PTC157069	ROCKLAND MEDIA AND COMMUNICATION PRIVATE LIMITED	Director	30-01-08	30-01-08	16-05-11	Active	NO
7	U45200DL2008PLC174937	ROCK LAND LIMITED	Director	05-03-08	05-03-08	-	Active	NO

Name :

Mr. Aditya Kumar Bhandari

Designation :

Whole-Time Director

Address :

17, Navjeevan Vihar, New Delhi, India

Date of Birth/Age :

12.02.1961

Qualification :

Graduate

Date of Appointment :

01.03.2010

DIN No.:

00524632

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	U85110DL2004PLC128077	ROCKLAND HOSPITALS LIMITED	Whole-time director	01-03-10	04-08-04	-	Active	NO
2	U24232DL2004PTC129207	ADITYA MEDICOS PRIVATE LIMITED	Director	17-09-04	17-09-04	-	Active	NO
3	U67120WB1996PLC135493	LIPI FINSTOCK LIMITED	Director	01-06-10	01-06-10	-	Active	NO
4	U67190DL2010PTC199898	AADARSH FINMAN ADVISORS PRIVATE LIMITED	Director	29-09-12	17-01-12	-	Active	NO

Name :

Mr. Bidhan Das

Designation :

Director

Address :

B-54, Sarvodaya End, New Delhi -110011, India

Date of Birth/Age :

30.03.1963

Date of Appointment :

03.08.2012

DIN No.:

01182152

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	U72400DL2007PTC159745	OCTAVO SOLUTIONS PRIVATE LIMITED	Director	26-02-07	26-02-07	-	Active	NO
2	U85110OR2006PTC008676	UTKAL HEALTHCARE PRIVATE LIMITED	Director	02-04-11	02-04-11	-	Active	NO
3	U85110DL2004PLC128077	ROCKLAND HOSPITALS LIMITED	Director	03-08-12	05-10-11	-	Active	NO
4	U70101OR2012PTC014829	OCTAVO INFRA SERVICES PRIVTAE LIMITED	Managing director	04-06-12	19-01-12	-	Active	NO
5	U85100DL2012PTC245585	PINK LOTUS CLINICS PRIVATE LIMITED	Director	03-12-12	03-12-12	-	Active	NO

Name :

Mr. Narendra Pal Singh

Designation :

Director

Address :

C-3/1, M.S. Flats Sector-13, R K Puram, New Delhi -110066, India

Date of Birth/Age :

17.01.1950

Qualification :

Post-graduate M/Sc (Ag) Chemistry

Date of Appointment :

01.03.2010

DIN No.:

03041721

KEY EXECUTIVES

Name :	Mrs. Poonam Goel
Designation :	Company Secretary
Address :	2886, Street No.-L, Bihari Colony, Shahdara, Delhi – 110032, India
Date of Birth/Age :	11.01.1988
Date of Appointment :	01.12.2011
Pan No.:	AQZPG6797R

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 03.08.2012

Shareholding Details File Attached

As on 24.09.2012

Names of Allottee	No. of Shares Allotted
LIPI Finstock Limited P-41, princip Street, 6^th Floor, Kolkata – 700072, West Bengal, India	80726
Total	80726

As on 26.09.2012

Names of Allottee	No. of Shares Allotted
Lipi Finstock Limited P-41, princip Street, 6^th Floor, Kolkata – 700072, West Bengal, India	100908
Total	100908

As on 03.08.2012

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	14.15
Bodies corporate	55.24
Directors or relatives of Directors	26.13
Other top fifty shareholders	4.48
Total	100.00

BUSINESS DETAILS

Line of Business :

The Company is engaged in the business of providing Healthcare Services

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Union Bank of India, IFB Branch, M-11, 1^st Floor, Middle Circle, New Delhi - 110001, India

· The Federal Bank Limited, 1-4 Convinient Shopping Centre, Westend, New Delhi-110021, New Delhi - 110021, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
Rupee term loans banks secured	810.264	534.615
Working capital loans banks secured	50.377	41.506
Loans taken for vehicles secured	9.972	10.523
Interest accrued due other debt secured	2.235	2.695
Total	872.848	589.339
Unsecured Loan	As on 31.03.2011	As on 31.03.2010
Other debt unsecured	5.000	0.000
Total	5.000	0.000

Banking Relations :	--
Auditors :
Name :	Deloitte Haskins and Sells Chartered Accountants
Address :	7^th Floor, Building 10, Tower B, DLF Cyber City Complex, DLF City Phase II, Gurgaon – 122002, Haryana, India
PAN.:	AABFD2095B
Enterprises over which Key Management Personnel and their relatives are able to exercise significant influence :	· Foundation for Applied Research in Cancer (Trust) · Somya Constructions Private Limited · Rockland Media and Communications Private Limited · Aditya Medicos Private Limited · Mona Infotech Private Limited · Prabhat Health Care Services Private Limited · Rockland Hotels Limited · Rock Land Limited · Hitesh Constructions Private Limited · Regal Builders and Promoters Private Limited · Umesh Pharmaceuticals Private Limited

CAPITAL STRUCTURE

After 03.08.2012

Authorised Capital : Rs.350.000 Millions

Issued, Subscribed & Paid-up Capital : Rs.308.384 Millions

As on 03.08.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
34000000	Equity Shares	Rs.10/- each	Rs.340.000 Millions
1000000	Preference Shares	Rs.10/- each	Rs.10.000 Millions
	Total		Rs.350.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
30013998	Equity Shares	Rs.10/- each	Rs.300.140 Millions

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
34000000	Equity Shares	Rs.10/- each	Rs.340.000 Millions
1000000	Preference Shares	Rs.10/- each	Rs.10.000 Millions
	Total		Rs.350.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
246401290	Equity Shares	Rs.10/- each	Rs.246.401 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		246.401	228.290	223.093
2] Share Application Money		0.000	1.080	0.000
3] Reserves & Surplus		1917.161	1755.788	1658.779
4] (Accumulated Losses)		(121.938)	(122.267)	(21.823)
NETWORTH		2041.624	1862.891	1860.049
LOAN FUNDS
1] Secured Loans		872.848	589.339	288.642
2] Unsecured Loans		5.000	0.000	7.625
TOTAL BORROWING		877.848	589.339	296.267
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		2919.472	2452.230	2156.316
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1692.725	1701.216	1714.011
Capital work-in-progress		1228.489	765.659	624.232
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	3.917	4.162	4.328
	Sundry Debtors	107.834	82.313	99.964
	Cash & Bank Balances	14.168	12.982	11.327
	Other Current Assets	3.764	4.023	3.417
	Loans & Advances	13.112	7.993	9.253
Total Current Assets		142.795	111.473	128.289
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	72.586	60.771	100.574
	Other Current Liabilities	68.663	63.171	207.929
	Provisions	3.288	2.176	1.713
Total Current Liabilities		144.537	126.118	310.216
Net Current Assets		(1.742)	(14.645)	(181.927)
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		2919.472	2452.230	2156.316

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	374.428	164.051	478.829
		Other Income	6.049	3.090	14.172
		TOTAL (A)	380.477	167.141	493.001
Less	EXPENSES
		Consumption materials changes inventories	105.245	46.766
		Employee related expenses	75.873	33.656
		Administrative selling other expenses	146.905	75.953	434.211
		Prior period items	0.000	70.778
		TOTAL (B)	328.023	227.153	434.211
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		52.454	(60.012)	58.790
Less	FINANCIAL EXPENSES (D)		17.487	23.410	33.112
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		34.967	(83.422)	25.678
Less/ Add	DEPRECIATION/ AMORTISATION (F)		34.638	17.016	47.438
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		0.329	(100.438)	(21.760)
Less	TAX (H)		0.000	0.005	0.555
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		0.329	(100.443)	(22.315)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(122.267)	(21.824)	0.491
	BALANCE / (LOSS) CARRIED TO THE B/S		(121.938)	(122.267)	(21.824)
	IMPORTS
		Capital Goods	1.735	NA	1.727
	TOTAL IMPORTS		1.735	NA	1.727
	Earnings / (Loss) Per Share (Rs.)		(0.02)	(4.49)	(1.20)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.09	(60.09)	(4.53)
Net Profit Margin (PBT/Sales)	(%)	0.09	(61.22)	(4.54)
Return on Total Assets (PBT/Total Assets}	(%)	0.02	(5.54)	(1.18)
Return on Investment (ROI) (PBT/Networth)		0.00	(0.05)	(0.01)
Debt Equity Ratio (Total Liability/Networth)		50.08	0.38	0.33
Current Ratio (Current Asset/Current Liability)		0.99	0.88	0.41

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	No
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

Note:

The registered office of the company has been shifted from B-207, Chittranjan Park, New Delhi – 110019, India to present address w.e.f. 06.10.2012

OPERATIONS

During the year, the gross revenue of the Company increased to Rs.380.477 Millions compared to Rs. 167.141 Millions in the Previous Year. The profit after tax for the year is Rs. 0.329 Million compared to Rs. (100.443 Millions) in the previous year.

The Company is making continuous efforts to improvise upon the deficiencies of past and increase the level of value addition to counteract and to turnaround and improve the margins of the Company.

CONTINGENT LIABILITIES (As on 31.03.2011)

a) Estimated amount of contracts remaining to be executed on capital account and not provided for (net of capital advances) amount to Rs.956.742 Millions (Previous period Rs.533.913 Millions)

b) The Company has provided bank guarantees to the extent of Rs. 156.133 Millions (Previous period Rs. 156.133 Millions) in respect of loans availed by the Company.

c) Claims against the Company not acknowledged as debts amount to Rs.15.929 Millions (Previous period Rs. 0.041 Million)

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U85110DL2004PLC128077
Name of the company	ROCKLAND HOSPITALS LIMITED
Address of the registered office or of the principal place of business in India of the company	B-33-34, Qutab Institutional Area, New Delhi – 110016, India finance@rocklandhospital.net
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10224822
Type of charge	· Immovable property · Movable property (not being pledge) · Others
Particular of charge holder	Union Bank of India, IFB Branch, M-11, 1^st Floor, Middle Circle, New Delhi - 110001, India ifbcp@unionbankofindia.com
Nature of instrument creating charge	Earlier Charge Created in respect of consortium Loan through Common Loan Agreement dated 18.05.2010 and deed of hypothecation dated 18.05.2010 for amount of Rs.1412.000 Millions. (Rs.1220.000 Millions for Manesar Project and Rs.192.000 Millions for Dwarka project). Now the Loan for Manesar project has been extended from Rs.1220.000 Millions to Rs 2026.700 Millions and the term loan for Dwarka project remains same at Rs. 192.000 Millions. The Total Loan amount for both the projects now becomes Rs. 2218.700 Millions.
Date of instrument Creating the charge	14.07.2012
Amount secured by the charge	Rs.2218.700 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Manesar Project: UBI- Base Rate+3%, OBC-Base Rate+3%, BOI-Base rate+3.25%, and FBL-(BPRL-3.25%) and Dwarka Project: FBL-BPRL-3.25%, UBI-Base Rate+3.50%, BOI-Base rate+3.25%, OBC-Base rate+3.50% Terms of Repayment As per the Agreement. Margin Manesar Project-33.23% Dwarka Project-54.37% Extent and Operation of the charge Pari passu basis between the members of consortium in proportion to their loans extended to the respective projects namely Manesar and Dwarka Projects.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Em and First Pari Passu charge on land and Hospital Building (leasehold land of HSIIDC) situated at Haf, Pocket-B, Sector-12, Phase-I, Dwarka, New Delhi-75 Owned by Subject. Em and First Pari Passu charge on land and proposed Hospital Building (leasehold land of HSIIDC) situated at plot no.-2, Sector-5, IMT Manesar, District Gurgaon Owned by Subject. First Pari Passu Charge on present and future fixed assets of respective Projects namely: Dwarka and Manesar
Date of instrument modifying the charge	05.07.2012
Particulars of the present modification	The Charge has been modified to create charge under immovable property namely Plot No.-2, Sector-5, IMT Manesar, District Gurgaon. To extend the charge on the land and building of the Company situated at Plot No.-2, Sector-5, IMT Manesar, District Gurgaon, proportionate to the loan extended by the consortium banks in their respective shares on pari passu basis.

FIXED ASSETS

· Land

· Building

· Office Building

· Plant Machinery

· Computer Equipments

· Furniture Fixtures

· 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 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.54.57
UK Pound	1	Rs.87.90
Euro	1	Rs.71.53

INFORMATION DETAILS

Report Prepared by :

NTH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--CREDIT LINES	1~10	2
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		26

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.