MIRA INFORM REPORT

Report Date :

13.02.2012

IDENTIFICATION DETAILS

Name :	ASHOKA MANUFACTURING LIMITED
Registered Office :	16, India Exchange Place, 2^nd Floor no.-11,Kolkata-700001, West Bangal
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	08.11.1995
Com. Reg. No.:	21-075216
Capital Investment / Paid-up Capital :	Rs.2.750 Millions
CIN No.: [Company Identification No.]	U51109WB1995PLC075216
TAN No.: [Tax Deduction & Collection Account No.]	CALA06725F / CALA03914B
PAN No.:	AACCA3927F
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturing, Exporter and Importer of precision-engineered non ferrous forging, machining, casting, sheet metal pressed components, assemblies and sub assemblies.
No. of Employees :	100 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 210000
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.

NOTES :

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

ECGC Country Risk Classification List – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
India	A1	A1

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

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. Anuj Shah
Designation :	Sales Executive
Contact No.:	91-9831888871
Date :	31.01.2012

LOCATIONS

Registered Office :	16 India Exchange Place, 2^nd Floor no.-11,Kolkata-700001, West Bangal, India
Tel. No.:	91-33-22902386 / 22902980
Mobile No.:	91-9831888871 / 9831888851 (Mr. Anuj Shah)
Fax No.:	91-33-40033595
E-Mail :	ashoka@patodiagroup.net
Website :	www.ashokagroup.net
Factory :	17, Hempel Line, Belur, Howrah, Kolkata, West Bangal, India
Location :	Rented

DIRECTORS

As on 31.09.2011

Name :

Mr. Anil Kumar Patodia

Designation :

Managing Director

Address :

3, Moira Street, Kolkata – 700017, West Bengal, India

Date of Birth/Age :

21.03.1952

Date of Appointment :

11.09.2000

DIN No.:

00612496

Other Directorship

S.NO.	CIN	NAME OF THE COMPANY	CURRENT DESIGNATION OF THE DIRECTOR	DATE OF APPOINTMENT AT CURRENT DESIGNATION	ORIGINAL DATE OF APPOINTMENT	DATE OF CESSATION	COMPANY STATUS	DEFAULTING STATUS
1	U74140WB1987PTC041917	MUDIT CONSULTANTS & SERVICES PRIVATE LIMITED	DIRECTOR	19/02/1987	19/02/1987	-	ACTIVE	YES
2	U29220WB1988PTC044848	CNC COMPONENTS PRIVATE LIMITED	DIRECTOR	22/07/1988	22/07/1988	-	ACTIVE	NO
3	U28932WB1966PTC026920	ENGINEERING STORES SUPPLY (HOWRAH) PRIVATE LIMITED	DIRECTOR	3/8/1988	3/8/1988	-	ACTIVE	NO
4	U45201WB1995PLC071278	ASHOKA FARMS LIMITED	DIRECTOR	28/04/1995	28/04/1995	-	ACTIVE	NO
5	U26952WB1987PTC043281	BURMA STONE & LIME CO PRIVATE LIMITED	DIRECTOR	18/01/1997	18/01/1997	-	ACTIVE	NO
6	U74999WB1993PLC058783	UNIWORTH LAMINATES LIMITED	DIRECTOR	30/01/1999	30/01/1999	-	ACTIVE	NO
7	U45202WB1994PTC063438	BRICKWORTH BUILDERS PRIVATE LIMITED	DIRECTOR	30/01/1999	30/01/1999	-	ACTIVE	NO
8	U70101WB1995PTC075112	TRISHNA NIKETAN PRIVATE LIMITED	DIRECTOR	31/03/1999	31/03/1999	-	ACTIVE	NO
9	U51109WB1995PLC075216	ASHOKA MANUFACTURING LIMITED	MANAGING DIRECTOR	1/10/2009	11/9/2000	-	ACTIVE	NO
10	U70101WB1999PTC089800	UNIQUE NIRMAN PRIVATE LIMITED	DIRECTOR	27/11/2000	27/11/2000	-	ACTIVE	YES
11	U70109WB1999PTC089801	GANESH NIRMAN PRIVATE LIMITED	DIRECTOR	27/11/2000	27/11/2000	-	ACTIVE	YES
12	U24304RJ1979PLC001892	ASHOKA MULTIYARN MILLS LIMITED	DIRECTOR	3/1/2002	3/1/2002	-	ACTIVE	NO
13	U70109WB1987PLC043113	ABHISHEK HOUSING & ELECTRONICS LIMITED	DIRECTOR	21/08/2002	21/08/2002	-	ACTIVE	YES
14	U52520AP2005PLC045632	PATODIA FABRIC PROCESSORS LIMITED	DIRECTOR	14/08/2005	14/08/2005	-	ACTIVE	YES
15	U17299WB2005PLC106036	RAJSHREE MULTIFIBRE MILLS LIMITED	DIRECTOR	31/10/2005	31/10/2005	-	ACTIVE	NO
16	U52520AP2005PLC045634	PATODIA FABRICS LIMITED	DIRECTOR	1/12/2005	1/12/2005	-	ACTIVE	YES

Name :

Mr. Pawan Kumar Patodia

Designation :

Director

Address :

3, Moira Street, Kolkata – 700017, West Bengal, India

Date of Birth/Age :

30.11.1953

Date of Appointment :

01.01.2002

DIN No.:

00612459

Other Directorship

S.NO.	CIN	NAME OF THE COMPANY	CURRENT DESIGNATION OF THE DIRECTOR	DATE OF APPOINTMENT AT CURRENT DESIGNATION	ORIGINAL DATE OF APPOINTMENT	DATE OF CESSATION	COMPANY STATUS	DEFAULTING STATUS
1	U24304RJ1979PLC001892	ASHOKA MULTIYARN MILLS LIMITED	MANAGING DIRECTOR	1/10/2009	29/05/1979	-	ACTIVE	NO
2	U74140WB1987PTC041917	MUDIT CONSULTANTS & SERVICES PRIVATE LIMITED	DIRECTOR	19/02/1987	19/02/1987	-	ACTIVE	YES
3	U45201WB1995PLC071278	ASHOKA FARMS LIMITED	DIRECTOR	28/04/1995	28/04/1995	-	ACTIVE	NO
4	U27102WB1995PTC075157	AEW MANUFACTURING PRIVATE LIMITED	DIRECTOR	31/10/1995	31/10/1995	-	ACTIVE	NO
5	U51109WB1995PTC074276	AIRCOM VANIJYA PRIVATE LIMITED	DIRECTOR	4/1/1999	4/1/1999	-	ACTIVE	NO
6	U74999WB1993PLC058783	UNIWORTH LAMINATES LIMITED	DIRECTOR	30/01/1999	30/01/1999	-	ACTIVE	NO
7	U45202WB1994PTC063438	BRICKWORTH BUILDERS PRIVATE LIMITED	DIRECTOR	30/01/1999	30/01/1999	-	ACTIVE	NO
8	U70101WB1995PTC075108	MAYANK NIKETAN PRIVATE LIMITED	DIRECTOR	31/03/1999	31/03/1999	-	ACTIVE	NO
9	U70101WB1999PTC089800	UNIQUE NIRMAN PRIVATE LIMITED	DIRECTOR	27/11/2000	27/11/2000	-	ACTIVE	YES
10	U70109WB1999PTC089801	GANESH NIRMAN PRIVATE LIMITED	DIRECTOR	27/11/2000	27/11/2000	-	ACTIVE	YES
11	U51109WB1995PLC075216	ASHOKA MANUFACTURING LIMITED	DIRECTOR	1/1/2002	1/1/2002	-	ACTIVE	NO
12	U74140AP1987PTC007849	HYDERABAD PRECISIONS MANUFACTURING CO PRIVATE LIMITED	DIRECTOR	1/2/2002	1/2/2002	-	ACTIVE	NO
13	U24294WB1994PTC066444	RPO FINVEST PRIVATE LIMITED	DIRECTOR	11/3/2002	11/3/2002	-	ACTIVE	NO
14	U70109WB1987PLC043113	ABHISHEK HOUSING & ELECTRONICS LIMITED	DIRECTOR	21/08/2002	21/08/2002	-	ACTIVE	YES
15	U52520AP2005PLC045632	PATODIA FABRIC PROCESSORS LIMITED	DIRECTOR	14/08/2005	14/08/2005	-	ACTIVE	YES
16	U17299WB2005PLC106036	RAJSHREE MULTIFIBRE MILLS LIMITED	DIRECTOR	31/10/2005	31/10/2005	-	ACTIVE	NO
17	U52520AP2005PLC045634	PATODIA FABRICS LIMITED	DIRECTOR	1/12/2005	1/12/2005	-	ACTIVE	YES
18	U17120MH1967PLC013669	CONFEDERATION OF INDIAN TEXTILE INDUSTRY	DIRECTOR	20/09/2006	20/09/2006	-	ACTIVE	NO
19	U17220WB1960GAP024716	EASTERN INDIA TEXTILE MILLS' ASSOCIATION	DIRECTOR	10/9/2007	10/9/2007	-	ACTIVE	NO
20	U74900WB2011PTC159237	KESHAR INTERNATIONAL PRIVATE LIMITED	DIRECTOR	16/02/2011	16/02/2011	11/6/2011	ACTIVE	NO

Name :

Mrs. Rita Patodia

Designation :

Director

Address :

3, Moira Street, Kolkata – 700017, West Bengal, India

Date of Birth/Age :

30.101956

Date of Appointment :

08.09.2008

DIN No.:

00634074

Other Directorship

S.NO.	CIN	NAME OF THE COMPANY	CURRENT DESIGNATION OF THE DIRECTOR	DATE OF APPOINTMENT AT CURRENT DESIGNATION	ORIGINAL DATE OF APPOINTMENT	DATE OF CESSATION	COMPANY STATUS	DEFAULTING STATUS
1	U70101WB1995PTC075110	STATUS NIKETAN PRIVATE LIMITED	DIRECTOR	27/10/1995	27/10/1995	-	ACTIVE	NO
2	U51109WB1995PLC075216	ASHOKA MANUFACTURING LIMITED	DIRECTOR	8/9/2008	8/9/2008	-	ACTIVE	NO

Name :

Mr. Sunil Kumar Patodia

Designation :

Director

Address :

281,N Road, 10 b , Jubilee Hills, Hyderabad – 500034, Andhra Pradesh, India

Date of Birth/Age :

14.12.1950

Date of Appointment :

09.04.1999

DIN No.:

00601763

Other Directorship

S.NO.	CIN	NAME OF THE COMPANY	CURRENT DESIGNATION OF THE DIRECTOR	DATE OF APPOINTMENT AT CURRENT DESIGNATION	ORIGINAL DATE OF APPOINTMENT	DATE OF CESSATION	COMPANY STATUS	DEFAULTING STATUS
1	U74140AP1987PTC007849	HYDERABAD PRECISIONS MANUFACTURING CO PRIVATE LIMITED	MANAGING DIRECTOR	8/10/1987	8/10/1987	-	ACTIVE	NO
2	U24304RJ1979PLC001892	ASHOKA MULTIYARN MILLS LIMITED	DIRECTOR	11/1/1992	11/1/1992	-	ACTIVE	NO
3	U51109WB1995PLC075216	ASHOKA MANUFACTURING LTD	DIRECTOR	9/4/1999	9/4/1999	-	ACTIVE	NO
4	U70101WB1999PTC089800	UNIQUE NIRMAN PRIVATE LIMITED	DIRECTOR	27/11/2000	27/11/2000	-	ACTIVE	YES
5	U70109WB1999PTC089801	GANESH NIRMAN PRIVATE LIMITED	DIRECTOR	27/11/2000	27/11/2000	-	ACTIVE	YES
6	U52520AP2005PLC045632	PATODIA FABRIC PROCESSORS LIMITED	DIRECTOR	16/03/2005	16/03/2005	-	ACTIVE	YES
7	U52520AP2005PLC045634	PATODIA FABRICS LIMITED	DIRECTOR	16/03/2005	16/03/2005	-	ACTIVE	YES
8	U01403AP2008PTC058629	PATODIA FARMS PRIVATE LIMITED	DIRECTOR	10/4/2008	10/4/2008	-	ACTIVE	YES

Name :

Mr. Vinod Kumar Todi

Designation :

Director

Address :

227 /1 B A.J.C. Bose Road, Kolkata – 700020, West Bengal, India

Date of Birth/Age :

12.06.1952

Date of Appointment :

17.09.2008

DIN No.:

00611050

Other Directorship

S.NO.	CIN	NAME OF THE COMPANY	CURRENT DESIGNATION OF THE DIRECTOR	DATE OF APPOINTMENT AT CURRENT DESIGNATION	ORIGINAL DATE OF APPOINTMENT	DATE OF CESSATION	COMPANY STATUS	DEFAULTING STATUS
1	L65993WB1983PLC036535	AMAR TRADERS & FINANCE CO LIMITED	DIRECTOR	6/7/1987	6/7/1987	-	ACTIVE	NO
2	U65993WB1983PTC035972	VIDARSHANA FINANCE & INVESTMENTS PRIVATE LIMITED	DIRECTOR	16/12/1999	16/12/1999	-	ACTIVE	NO
3	U55101WB2004PTC099240	HOTEL BENGAL INN PRIVATE LIMITED	DIRECTOR	20/01/2005	20/01/2005	-	ACTIVE	NO
4	U70109WB1996PTC081599	SOUTH CALCUTTA DIESELS PRIVATE LIMITED	DIRECTOR	21/03/2005	21/03/2005	-	ACTIVE	NO
5	U51109WB1995PLC075216	ASHOKA MANUFACTURING LIMITED	DIRECTOR	19/09/2009	17/09/2008	-	ACTIVE	NO
6	L74210WB1982PLC034947	KND ENGINEERING TECHNOLOGIES LIMITED	ADDITIONAL DIRECTOR	31/07/2009	31/07/2009	17/06/2010	ACTIVE	NO

KEY EXECUTIVES

Name :	Mr. Anuj Shah
Designation :	Sales Executive

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Sita Ram Patodia	100
Nand Lal Verma	100
Vimal Dolawat	100
Sudhir Kumar Patodia	100
Anil Kumar Patodia	160200
Pawan Kumar Patodia	27800
Anil Kumar Patodia (HUF)	5300
Pawan Kumar Patodia (HUF)	5200
Surya Todi	100
Sidhartha Singhania	100
Sunol Kumar Patodia	200
Rita Patodia	75700
Total	275000

As on 30.09.2011

Equity Share Break up

Category	Percentage
Directors or relatives of Directors	99.82
Other top fifty shareholders	0.18
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturing, Exporter and Importer of precision-engineered non ferrous forging, machining, casting, sheet metal pressed components, assemblies and sub assemblies.
Products :	Non Ferrous Castings Non Ferrous Forgings Machined Components Pressed and Sheet Metal Components Assemblies and Sub- Assemblies, etc.
Exports :
Countries :	US Europe
Imports :
Products :	Machinery
Countries :	China Singapore Germany
Terms :
Selling :	Depends
Purchasing :	Depends

PRODUCTION STATUS

31.03.2011

Particulars	Unit	Actual Production
Components	Nos	745018

GENERAL INFORMATION

Customers :

Manufacturers

No. of Employees :

100 (Approximately)

Bankers :

• Allahabad Bank, Misson Row Branch, 18, R.N. Mukherjee Road, Kolkata-700001, West Bengal, India
• Union Bank of India, India exchange place branch, 15, India exchange place, Kolkata-700001, West Bengal, India
• HDFC

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
From Allahabad Bank: Cash Credit ( against Hypothecation of Stock and Debtors and personal guarantee of Directors )	49.628	29.628
From WBFC Term Loan (against Hypothecation of Plant and Machinery aqulred from such loan and personal guarantee of Directors)	7.660	12.060
From Allahabad Bank: Tern Loan (against Hypothecation of Plant and Machinery aqulred from such loan and person guarantee of Directors)	3.091	0.000
From HDFC against Financing car	0.688	1.152
Total	61.067	42.840
Unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
Unsecured Loan	27.581	20.677
Total	27.581	20.677

Banking Relations :	---
Auditors :
Name :	Sushil Sharma and Company Chartered Accountants
Address :	16, India Exchange Place, Kolkate, - 70001, West Bengal, India
PAN.:	AIQPS6905E

CAPITAL STRUCTURE

]

As on 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
275000	Equity Shares	Rs.10/- each	Rs.2.750 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		2.750	2.750	2.750
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		51.609	45.778	39.666
4] (Accumulated Losses)		0.000	0.00	0.000
NETWORTH		54.359	48.528	42.416
LOAN FUNDS
1] Secured Loans		61.067	42.841	26.701
2] Unsecured Loans		27.581	20.677	8.001
TOTAL BORROWING		88.648	63.518	34.702
DEFERRED TAX LIABILITIES		2.508	2.519	2.426
TOTAL		145.515	114.564	79.544
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		33.938	34.223	26.290
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		12.945	13.825	12.100
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	45.267	41.440	28.478
	Sundry Debtors	75.043	66.002	36.654
	Cash & Bank Balances	5.663	3.331	1.315
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	26.513	25.621	20.646
Total Current Assets		152.486	136.394	87.093
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	34.727	14.053	30.694
	Other Current Liabilities	3.530	0.487	4.167
	Provisions	15.597	14.540	11.078
Total Current Liabilities		53.854	69.878	45.939
Net Current Assets		98.632	66.516	41.154
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		145.515	114.564	79.544

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	218.830	211.638	150.966
		Other Income	2.847	0.970	2.249
		TOTAL (A)	221.677	212.608	153.215
Less	EXPENSES
		Increase/ Decrease in Work in Progress/ Other	0.000	(2.259)	(2.838)
		Raw Material, Finished Good and Semi finished Goods	122.246	119.627	83.198
		Manufacturing Expenses	37.744	38.654	27.534
		Excise Duty Expenses	17.049	13.505	9.170
		Administrative and Selling Expenses	21.830	25.031	22.304
		TOTAL (B)	198.869	194.558	139.368
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		22.808	18.050	13.847
Less	INTEREST (D)		9.213	4.604	3.328
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		13.595	13.446	10.519
Less/ Add	DEPRECIATION/ AMORTISATION (F)		4.811	4.129	3.016
	PROFIT BEFORE TAX (E-F) (G)		8.784	9.317	7.503
Less	TAX (H)		2.952	3.205	2.389
	PROFIT AFTER TAX (G-H) (I)		5.832	6.112	5.114
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		32.653	26.541	21.427
	BALANCE CARRIED TO THE B/S		38.485	32.653	26.541
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	33.720	37.053	NA
	TOTAL EARNINGS		33.720	37.053	NA
	IMPORTS
		Raw Materials	0.982	0.932	2.414
		Capital Goods	3.559	7.207	4.053
	TOTAL IMPORTS		4.541	8.139	6.467
	Earnings Per Share (Rs.)		21.21	-	-

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	2.63	2.87	3.33
Net Profit Margin (PBT/Sales)	(%)	4.01	4.40	4.97
Return on Total Assets (PBT/Total Assets}	(%)	4.71	5.46	6.44
Return on Investment (ROI) (PBT/Networth)		0.16	0.19	0.18
Debt Equity Ratio (Total Liability/Networth)		2.62	2.75	1.90
Current Ratio (Current Asset/Current Liability)		2.83	1.95	1.90

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report (Yes / No)
1) Year of Establishment	Yes
2) Locality of the firm	Yes
3) Constitutions of the firm	Yes
4) Premises details	Yes
5) Type of Business	Yes
6) Line of Business•	Yes
7) Promoter’s background	--
8) No. of employees	Yes
9) Name of person contacted	Yes
10) Designation of contact person	Yes
11) Turnover of firm for last two years	No
12) Profitability for last three years	No
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	No
15) Capital in the business	No
16) Details of sister concerns	--
17) Major suppliers	No
18) Major customers	No
19) Payments terms	Yes
20) Export / Import details (if applicable)	Yes
21) Market information	--
22) Litigations that the firm / promoter	--
23) Banking Details	Yes
24) Banking facility details	No
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	No
28) Incorporation details, if applicable	--
29) Last accounts filed at ROC	--
30) Major Shareholders, if available	--

From 8

Corporate identity number of the company	U51109WB1995PLC075216
Name of the company	ASHOKA MANUFACTURING LIMITED
Address of the registered office or of the principal place of business in India of the company	16 India Exchange Place, 2^nd Floor no.-11,Kolkata-700001, West Bangal, India ashoka@patodiagroup.net
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10211498
Type of charge	Immovable Property Book Debts Movable Property (not being pledge) Others (Stock, P and m and Other Current and Fixed Assets )
Particular of charge holder	Allahabad Bank, Misson Row Branch, 18, R.N. Mukherjee Road, Kolkata-700001, West Bengal, India br.missonrow@allahababank.in
Nature of instrument creating charge	Supplemental General Letter of Hypothecation Supplemental Letter of Mortgagor Confirming Deposit of Title Deep
Date of instrument Creating the charge	23.04.2011
Amount secured by the charge	Rs.75.533 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest and other charges will be paid as per terms and conditions of sanction letter. Presently applicable ROL for CC and TL 4.25% above Br i.e. 13.75% p.a.w.m. (Floating), however subject to change. Terms of Repayment The Working capital (Rs.52.500 Millions by way of cash credit limit (sub- limit of Rs.5.000 Millions by way of pc and Rs.5.000 Millions by way of FBP) Rs. 4.000 Millions by way of LC(DP/DA) and Rs. 16.000 Millions by way of BG) shall be repayable on demand whereas Term Loan of Rs. 3.053 Millions shall be repaid as per existing terms. Interest shall be realised separately as and when due. Margin The borrower shall maintain appropriate margin as stipulated in the sanction terms, however the same is subject to change from time to time. Presently the applicable margin is CC:- 25% on Stock and 40% on Book-Debts . TL-25% LC- 10% on DP and 20% on DA by way of cash margin / FDR BG- 25% upto 10.000 Millions and thereafter 30% by way of cash margin / FDR Extent and operation of the Charge The security created under said hypothecation shall operate as continuing security and by way of first charge. The charged assets property be kept at the Company risk and expense in good condition and fully insured against loss or damage by fire, lighting or explosion or theft and also against loss or damage by riot and civil commotion etc. as may be required by the Bank in the joint names of the Bank and the Company. Other Company hereby declares that all the charged property now existing are absolute property and at the sole disposal of the Co. and free from any prior charge or encumbrance and undertakes that all future property shall like wise. The limit has been sanctioned to M/s Ashoka Industries Prop. Ashoka Manufacturing Limited Other terms & conditions are as per terms & conditions of above referred Hypo. Agreement / Mortgage paper and Sanction Letter of the bank.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Company hereby hypothecates and charges by way of first charge a) all stocks of RM, WIP and FG etc such as Aluminium, Brass, Copper, Steel, Base Metal Components etc., packing material, consumable stores and spares etc. and other merchandise whatsoever being movable properties stored in borrowers place of business at 16, India Exchange Place, 2nd Floor, Kolkata-700001 and /or its godown /factory at 34, Canal South Road, Kolkata-15 or 17, Hem Pal Lane, Belur, Howrah or anywhere else b) All the book debts, outstanding moneys receivable, claims and bill etc. c) Other Current Assets Both present and future d) Further the company created equitable mortgage in respect of all that flat being no. 403, 4th Floor, admeasuring 765.09 Sq. Ft. “Abasika Project" being plot no. P-120,C.I.T. Road, Scheme -VIM, P.S. Phoolbagan , Kolkata-700054 within the limit of KMC together with undivided proportionate share in land and other amenities Sale deed no. 3316 of year 2006. By way of 2nd Charge ( 1st charge held by WBFC) -All Fixed Assets including movable plant & machinery, apparatus, tools ,motor lorries, cars and furniture etc at borrowers premises or any where else both present and future
Particulars of the present modification	By present modification overall limit secured by the charge has been revised from Rs. 60000 Millions to Rs.75.553 Millions. The revised credit facilities are as follows - CC- Rs. 52.500 Millions( Sub limit- Rs. 5.000 Millions by way of PC and Rs. 5.000 Millions by way of FBP), LC- Rs. 4.000 Millions, BG -Rs. 16.000 Millions and TL- Rs. 3.053 Millions Other terms and conditions save as modified above remain unchanged.

Fixed Assets:

• Residential Premises
• Machinery
• Office Equipments and Furniture and Fittings
• Vehicles
• Sundry Equipments
• Assets At Delhi

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.49.64
UK Pound	1	Rs.78.35
Euro	1	Rs.65.80

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		48

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.