MIRA INFORM REPORT

Report Date :

13.02.2012

IDENTIFICATION DETAILS

Name :	RADHE RENEWABLE ENERGY DEVELOPMENT PRIVATE LIMITED
Registered Office :	Plot No.2621/22, Gate No.1, Road D/2, Lodhika G.I.D.C., Kalawad Road, P.O. Metoda, Rajkot – 360485, Gujarat
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	05.04.2004
Com. Reg. No.:	04-043909
Capital Investment / Paid-up Capital :	Rs.52.500 Millions
CIN No.: [Company Identification No.]	U29219GJ2004PTC043909
TAN No.: [Tax Deduction & Collection Account No.]	RKTR01189G
PAN No.: [Permanent Account No.]	AACCR7723E
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter and Importer of briquette gasification plant and fluidized bed gasifier.
No. of Employees :	250 [Approximately]

RATING & COMMENTS

MIRA’s Rating :

Ba [47]

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

Maximum Credit Limit :	USD 581000
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. Profit and loss account of the of the company for the current year [As on 31.03.2011] is not available.

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

Name :	Ms. Binni Patel
Designation :	Chartered Accountant
Contact No.:	91-2827-287865
Date :	04.02.2012

LOCATIONS

Registered Office/Factory :	Plot No.2621/22, Gate No.1, Road D/2, Lodhika G.I.D.C., Kalawad Road, P.O. Metoda, Rajkot – 360485, Gujarat, India
Tel. No.:	91-2827-287865 / 287864 / 287888 / 287889
Fax No.:	91-2827-287887
E-Mail :	hjamnadas1.roc@gmail.com
Website :	http://www.radhegroup.com
Location :	Owned

DIRECTORS

As on 30.09.2011

Name :

Mr. Kaushik Arjanbhai Gardharia

Designation :

Director

Address :

47, Janakpuri Society, University Road, Rajkot-360005, Gujarat, India

Date of Appointment :

17.03.2006

DIN :

00165974

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	U27104GJ2003PTC042466	HI-CON TECHNO CAST PRIVATE LIMITED	Director	5/11/2003	5/11/2003	-	Active	NO
2	U92130GJ2005PLC047002	SHILBOND INFO-MEDIA LIMITED	Director	3/12/2005	3/12/2005	-	Active	NO
3	U29219GJ2004PTC043909	RADHE RENEWABLE ENERGY DEVELOPMENT PRIVATE LIMITED	Director	17/03/2006	17/03/2006	-	Active	NO
4	U35112GJ2006PLC049031	CORE MARINE-TECH LIMITED	Director	6/9/2006	6/9/2006	22/10/2010	Active	NO
5	U51909WB2008PTC131340	ROHINI SUPPLIERS PRIVATE LIMITED	Director	13/03/2010	13/03/2010	-	Active	NO

Name :

Mr. Nilesh Ratilal Makadia

Designation :

Director

Address :

"Parth", Block No.48, Ruda Nagar-1, Behind Neel-da-Dhaba, Kalawad Road, Rajkot, Gujarat, India

Date of Appointment :

17.03.2006

DIN :

00166121

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	U51100GJ2005PTC047245	RADHE EXIM PRIVATE LIMITED	Director	9/12/2005	9/12/2005	-	Active	NO
2	U29219GJ2004PTC043909	RADHE RENEWABLE ENERGY DEVELOPMENT PRIVATE LIMITED	Director	17/03/2006	17/03/2006	-	Active	NO
3	U35112GJ2006PLC049031	CORE MARINE-TECH LIMITED	Director	6/9/2006	6/9/2006	22/10/2010	Active	NO
4	U27109GJ2006PTC049342	HI-MAC CASTINGS PRIVATE LIMITED	Director	10/11/2006	10/11/2006	-	Active	NO
5	U40106GJ2007PTC052013	RADHE-AUST ENERGY SYSTEMS PRIVATE LIMITED	Director	19/10/2007	19/10/2007	-	Active	NO
6	U35110GJ2008PLC053502	RADHE MARINE-TECH LIMITED	Director	4/4/2008	4/4/2008	-	Active	NO
7	U27100GJ1995PLC026945	KADVANI FORGE LIMITED	Additional director	3/10/2008	3/10/2008	29/11/2008	Active	NO
8	U40108GJ2009PTC055881	RADHE GREEN ENERGY PLANTATION PRIVATE LIMITED	Director	12/1/2009	12/1/2009	-	Active	NO
9	U24239GJ2009PTC057349	HERBULES PHARMA PRIVATE LIMITED	Director	25/06/2009	25/06/2009	-	Active	NO
10	U65993GJ2009PTC057355	RADHE ASSOCIATES PRIVATE LIMITED	Director	26/06/2009	26/06/2009	-	Active	NO
11	U28112GJ2009PTC057456	HI-CAN INDUSTRIES PRIVATE LIMITED	Director	6/7/2009	6/7/2009	-	Active	NO
12	U15490GJ2009PTC057790	VITAGREEN PRODUCTS PRIVATE LIMITED	Director	13/08/2009	13/08/2009	-	Active	NO
13	U45400WB2009PTC132416	ADITYA INFRAPROJECT PRIVATE LIMITED	Director	13/03/2010	13/03/2010	-	Active	NO
14	U51909WB2008PTC131340	ROHINI SUPPLIERS PRIVATE LIMITED	Director	13/03/2010	13/03/2010	-	Active	NO
15	U21090WB2008PTC131208	UTTAM PAPER SUPPLIERS PRIVATE LIMITED	Director	13/03/2010	13/03/2010	-	Active	NO
16	U28999GJ2010PTC060622	HI GREEN TRANSMISSION PRIVATE LIMITED	Director	10/5/2010	10/5/2010	-	Active	NO

Name :

Mr. Vimalkumar Chhaganlal Kalavadiya

Designation :

Director

Address :

32, Silpan Basera Sadhuvasvani Road, University Main Road, Rajkot, Gujarat, India

Date of Appointment :

17.03.2006

DIN :

00201488

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	U29219GJ2004PTC043909	RADHE RENEWABLE ENERGY DEVELOPMENT PRIVATE LIMITED	Director	17/03/2006	17/03/2006	-	Active	NO
2	U35112GJ2006PLC049031	CORE MARINE-TECH LIMITED	Director	6/9/2006	6/9/2006	22/10/2010	Active	NO
3	U35110GJ2008PLC053502	RADHE MARINE-TECH LIMITED	Director	4/4/2008	4/4/2008	-	Active	NO
4	U27100GJ1995PLC026945	KADVANI FORGE LIMITED	Additional director	3/10/2008	3/10/2008	29/11/2008	Active	NO
5	U99999WB1996PTC126290	RNG FINLEASE PRIVATE LIMITED	Director	13/03/2010	13/03/2010	-	Active	NO

Name :

Mr. Vijay Chhaganlal Kalavadia

Designation :

Director

Address :

32, Silpan Basera Sadhuvasvani Road, University Main Road, Rajkot, Gujarat, India

Date of Appointment :

17.03.2006

DIN :

00224817

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	U51100GJ2005PTC047245	RADHE EXIM PRIVATE LIMITED	Director	9/12/2005	9/12/2005	-	Active	NO
2	U29219GJ2004PTC043909	RADHE RENEWABLE ENERGY DEVELOPMENT PRIVATE LIMITED	Director	17/03/2006	17/03/2006	-	Active	NO
3	U35112GJ2006PLC049031	CORE MARINE-TECH LTD	Director	6/9/2006	6/9/2006	22/10/2010	Active	NO
4	U27109GJ2006PTC049342	HI-MAC CASTINGS PRIVATE LIMITED	Director	10/11/2006	10/11/2006	-	Active	NO
5	U35110GJ2008PLC053502	RADHE MARINE-TECH LIMITED	Director	4/4/2008	4/4/2008	-	Active	NO
6	U27100GJ1995PLC026945	KADVANI FORGE LIMITED	Additional director	3/10/2008	3/10/2008	29/11/2008	Active	NO
7	U45400WB2009PTC132416	ADITYA INFRAPROJECT PRIVATE LIMITED	Director	13/03/2010	13/03/2010	-	Active	NO
8	U21090WB2008PTC131208	UTTAM PAPER SUPPLIERS PRIVATE LIMITED	Director	13/03/2010	13/03/2010	-	Active	NO

Name :

Mr. Shailesh Vallabhdas Makdia

Designation :

Director

Address :

125, Vrundavan Society, Kalawad Road, Rajkot, Gularat, India

Date of Appointment :

05.04.2004

DIN :

00593049

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	U74999GJ1998PTC034646	RADHE TYRE RETREADING PRIVATE LIMITED	Director	11/9/1998	11/9/1998	8/12/2008	Active	NO
2	U27104GJ2003PTC042466	HI-CON TECHNO CAST PRIVATE LIMITED	Director	6/6/2003	6/6/2003	-	Active	NO
3	U29219GJ2004PTC043909	RADHE RENEWABLE ENERGY DEVELOPMENT PRIVATE LIMITED	Director	5/4/2004	5/4/2004	-	Active	NO
4	U92130GJ2005PLC047002	SHILBOND INFO-MEDIA LIMITED	Director	21/11/2005	21/11/2005	-	Active	NO
5	U51100GJ2005PTC047245	RADHE EXIM PRIVATE LIMITED	Director	9/12/2005	9/12/2005	-	Active	NO
6	U35112GJ2006PLC049031	CORE MARINE-TECH LTD	Director	6/9/2006	6/9/2006	22/10/2010	Active	NO
7	U27109GJ2006PTC049342	HI-MAC CASTINGS PRIVATE LIMITED	Director	10/11/2006	10/11/2006	-	Active	NO
8	U40106GJ2007PTC052013	RADHE-AUST ENERGY SYSTEMS PRIVATE LIMITED	Director	19/10/2007	19/10/2007	-	Active	NO
9	U35110GJ2008PLC053502	RADHE MARINE-TECH LIMITED	Director	4/4/2008	4/4/2008	-	Active	NO
10	U51109GJ2008PTC054553	I BOND MARKETING PRIVATE LIMITED	Director	23/07/2008	23/07/2008	-	Active	NO
11	U40108GJ2009PTC055881	RADHE GREEN ENERGY PLANTATION PRIVATE LIMITED	Director	12/1/2009	12/1/2009	-	Active	NO
12	U24239GJ2009PTC057349	HERBULES PHARMA PRIVATE LIMITED	Director	25/06/2009	25/06/2009	-	Active	NO
13	U65993GJ2009PTC057355	RADHE ASSOCIATES PRIVATE LIMITED	Director	26/06/2009	26/06/2009	-	Active	NO
14	U28112GJ2009PTC057456	HI-CAN INDUSTRIES PRIVATE LIMITED	Director	6/7/2009	6/7/2009	-	Active	NO
15	U15490GJ2009PTC057790	VITAGREEN PRODUCTS PRIVATE LIMITED	Director	13/08/2009	13/08/2009	-	Active	NO
16	U99999WB1996PTC126290	RNG FINLEASE PRIVATE LIMITED	Director	13/03/2010	13/03/2010	-	Active	NO
17	U28999GJ2010PTC060622	HI GREEN TRANSMISSION PRIVATE LIMITED	Director	10/5/2010	10/5/2010	-	Active	NO
18	U37200GJ2011PTC066917	SHANTOL GREEN ENERGY (INDIA) PRIVATE LIMITED	Director	16/09/2011	16/09/2011	-	Active	NO

Name :

Mr. Sandeep Kumar Vallabhdas Makadia

Designation :

Director

Address :

125, Vrundavan Society, Kalawad Road, Rajkot, Gularat, India

Date of Appointment :

05.04.2004

DIN :

00619148

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	U74999GJ1998PTC034646	RADHE TYRE RETREADING PRIVATE LIMITED	Director	11/9/1998	11/9/1998	8/12/2008	Active	NO
2	U29219GJ2004PTC043909	RADHE RENEWABLE ENERGY DEVELOPMENT PRIVATE LIMITED	Director	5/4/2004	5/4/2004	-	Active	NO
3	U35112GJ2006PLC049031	CORE MARINE-TECH LTD	Director	6/9/2006	6/9/2006	22/10/2010	Active	NO
4	U27109GJ2006PTC049342	HI-MAC CASTINGS PRIVATE LIMITED	Director	10/11/2006	10/11/2006	-	Active	NO
5	U35110GJ2008PLC053502	RADHE MARINE-TECH LIMITED	Director	4/4/2008	4/4/2008	-	Active	NO
6	U27100GJ1995PLC026945	KADVANI FORGE LIMITED	Additional director	3/10/2008	3/10/2008	29/11/2008	Active	NO
7	U99999WB1996PTC126290	RNG FINLEASE PRIVATE LIMITED	Director	13/03/2010	13/03/2010	-	Active	NO

KEY EXECUTIVES

Name :	Ms. Binni Patel
Designation :	Chartered Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
Vimalkumar Chhaganlal Kalavadiya	12500
Shailesh Vallabhdas Makdia	600000
Sandeepkumar Makadia	50000
Daxa Saileshbhai Makadia	400000
Bina Sandipbhai Makadia	400000
Parvatiben Vallabhdas Makadia	512500
Shailesh Vallabhdas Makadia (Karta Of Shailesh Vallabhdas Makadia-HUF)	475000
Sandip Vallabhdas Makadia (Karta Of Sandip Vallabhdas Makadia-HUF)	487500
Vallabhdas Vrajlatbhamia Kadia (Karta Of Vallabhdas Vrajlal Makadia-HUF)	612500
RNG Finlease Private Limited, India	1700000
Total	5250000

As on 30.09.2011

Equity Share Break Up Category	Percentage
Bodies corporate	32.38
Directors or relatives of Directors	67.62
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Exporter and Importer of briquette gasification plant and fluidized bed gasifier.
Exports :
Products :	Briquette Gasification Plant Fluidized Bed Gasifier.
Countries :	US Nepal
Imports :
Products :	Raw Material
Countries :	Germany China
Terms :
Selling :	L/C / Cash
Purchasing :	L/C / Cheque

PRODUCTION STATUS [As on 31.03.2010]

Particulars	Unit	Actual Production
Gasifier Machines	Nos.	38
Gasifier Filter Devices	Nos.	2

GENERAL INFORMATION

Customers :

Manufacturer

No. of Employees :

250 [Approximately]

Bankers :

• Bank of India, Gujarat, India
• IDBI Bank Limited, Manjalpur Branch, Manjalpur, Baroda – 390009, Gujarat, India
• State Bank of India, Jawahar Road, Rajkot – 360001, Gujarat, India
• Corporation Bank
• HDFC Bank Limited
• Kotak Mahindra Bank
• Cooperative Bank of Rajkot Limited

Facilities :

Secured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
Rupee term loan from bank	36.737	45.962
Working capital loan from bank	71.642	26.439
Total	108.379	72.401
Unsecured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
Rupee term loan from bank	7.505	0.000
Rupee term loan from financial institution	4.000	0.000
Rupee term loan from others	16.588	9.466
Total	28.093	9.466

Banking Relations :	--
Auditors :
Name :	H. Jamnadas and Company Chartered Accountants
Address :	217-219, Heera Panna Complex, Dr. Yagnik Road, Rajkot – 360001, Gujarat, India
PAN :	AABFH2320P
Subsidiaries	Hi-Mac Casting Private Limited CIN : U27109GJ2006PTC049342 Radhe Marine-Tech Limited CIN : U35110GJ2008PLC0536502
Partnership Firm	Radhe Real Estate and Infastructure
Associate Concern	Vitagreen Products Private Limited Hi-can Industries Private Limited Radhe Aust Energy System Private Limited Turbo Multi Services Private Limited Hi-con Technocast Private Limited Radhe Green Energy Credit Co-operative Society

CAPITAL STRUCTURE

As on 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
10,000,000	Equity Shares	Rs.10/- each	Rs.100.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5,250,000	Equity Shares	Rs.10/- each	Rs.52.500 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

Particulars		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		52.500	39.000	39.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		92.760	90.445	78.911
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		145.260	129.445	117.911
LOAN FUNDS
1] Secured Loans		108.379	72.401	67.453
2] Unsecured Loans		28.093	9.466	9.970
TOTAL BORROWING		136.472	81.867	77.423
DEFERRED TAX LIABILITIES		13.185	16.643	19.201
TOTAL		294.917	227.955	214.535
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		96.365	103.897	117.309
Capital work-in-progress		4.901	1.612	0.000
INVESTMENT		94.836	52.388	38.767
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	88.828	64.806	58.514
	Sundry Debtors	27.663	33.195	43.429
	Cash & Bank Balances	0.514	8.836	3.021
	Other Current Assets	5.065	3.571	0.572
	Loans & Advances	73.362	65.045	42.154
Total Current Assets		195.432	175.453	147.690
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	30.608	27.521	24.032
	Other Current Liabilities	45.558	50.325	28.226
	Provisions	20.681	28.009	37.663
Total Current Liabilities		96.847	105.855	89.921
Net Current Assets		98.585	69.598	57.769
MISCELLANEOUS EXPENSES		0.230	0.460	0.690
TOTAL		294.917	227.955	214.535

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income
		Other Income
		TOTAL (A)		297.683	362.075
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Increase / [Decrease] in Stocks
		TOTAL (B)		265.296	314.771
	PROFIT/[LOSS] BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			32.387	47.304
Less	FINANCIAL EXPENSES (D)		NA	7.129	8.192
	PROFIT/[LOSS] BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			25.258	39.112
Less/ Add	DEPRECIATION/ AMORTISATION (F)			13.492	11.668
	PROFIT / [LOSS] BEFORE TAX (E-F) (G)			11.766	27.444
Less	TAX (H)			0.165	13.141
	PROFIT / [LOSS] AFTER TAX (G-H) (I)			11.601	14.303
	Earnings/[Loss] Per Share (Rs.)			2.97	3.67

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	NA	3.90	3.95
Return on Total Assets (PBT/Total Assets}	(%)	NA	4.21	10.36
Return on Investment (ROI) (PBT/Networth)		NA	0.09	0.23
Debt Equity Ratio (Total Liability/Networth)		1.61	1.45	1.42
Current Ratio (Current Asset/Current Liability)		2.02	1.66	1.64

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report [Yes/No]
Year of Establishment	Yes
Locality of the Firm	Yes
Construction of the firm	Yes
Premises details	Yes
Type of Business	Yes
Line of Business	Yes
Promoters background	-
No. of Employees	Yes
Name of Person Contacted	Yes
Designation of contact person	Yes
Turnover of firm for last three years	No
Profitability for last three years	No
Reasons for variation <> 20%	-
Estimation for coming financial year	No
Capital the business	No
Details of sister concerns	Yes
Major Suppliers	No
Major Customers	No
Payment Terms	Yes
Export / Import Details [If Applicable]	Yes
Market Information	-
Litigations that the firm / promoter involved in	-
Banking Details	Yes
Banking Facility Details	No
Conduct of the banking account	-
Buyer visit details	-
Financials, if provided	No
Incorporation details, if applicable	-
Last accounts filed at ROC	-
Major Shareholders, if applicable	-

Note : Registered office address of the company has been shifted from D-111, Rajdoot Industrial Estate, 4, Umakant Pandit Udhyognagar, Near Mavdi Plot, Rajkot – 360004, Gujarat, India to the present address w.e.f. 02.02.2007

OPERATION AND PROSPECTS : [As on 31.03.2010]

During current year of operations, the Company has achieved turnover of Rs. 297.683 millions. The Company has earned profit of Rs. 32.387 millions before depreciation and Interest. The Company has earned Profit of Rs. 11.766 millions after providing for depreciation and interest.

The Directors are trying their level best to improve performance of the Company in terms of Turnover and Profitability. The prospects of the Company’s business are bright and positive.

FUTURE PLAN OF ACTION : [As on 31.03.2010]

To enhance product performance and for better customer satisfaction, the Company will continue in :-

a. Upgradation of existing technology.

b. Applied research and value engineering.

c. Development of new processes.

Bankers Charges Report as per Registry

Corporate identity number of the company	U29219GJ2004PTC043909
Name of the company	RADHE RENEWABLE ENERGY DEVELOPMENT PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Plot No.2621/22, Gate No.1, Road D/2, Lodhika G.I.D.C., Kalawad Road, P.O Metoda, Lodhika, Rajkot – 360485, Gujarat, India
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10146411
Type of charge	Immovable Property
Particular of charge holder	State Bank of India, Jawahar Road, Rajkot – 360001, Gujarat, India Email : upendra.dalwadi@sbi.co.in
Nature of instrument creating charge	Memorandum Relating to Deposit of Title deeds for creation of further charge for term loan overall limit where initial charge is created by way of deposit of Title deeds.
Date of instrument Creating the charge	11.04.2011
Amount secured by the charge	Rs.160.000
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest – 1. Term Loan :- 675 bps above base rate plus tenure premium100 bps, present effective rate is 16% p.a., and 2. Cash Credit :- 675 bps above base rate present effective rate is 15% p.a. Terms of Repayment – For term loan will be Repaid as follows: - 24 monthly Installments of Rs.1.500 Millions each. - 32 monthly Installments of Rs.2.000 Millions each. - 1 monthly Installments of Rs.2.500 Millions eac Margin – For Term loan - NA For Cash Credit- Raw Material- 25% - Semi finished goods- 25% - Finished Goods- 25% - Components/consumables/spares- 25% - Domestic Receivables- 50% Extent and Operation of the charge - Charge over Factory land of the Company at plot no.2721/B admeasuring about 9455 sq.mtrs is created to secure the Credit Facilities of Rs. 160.000 Millions (Originally Rs.135.000 Millions and Extended up to Rs. 160.000 Millions) sanctioned to Hi Mac Castings Private Limited by State Bank of India.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Equitable Mortgage land at plot no.2721/B Lodhika Industrial Estate, GIDC Metoda, admeasuring about 945 sq.mtrs.
Particulars of the present modification	Charge over Factory land of the Company at plot no.2721/B admeasuring about 9455 sq.mtrs is created to secure the Credit Facilities of Rs.160.000 Millions (Originally Rs.135.000 Millions and Extended up to Rs. 160.000 Millions) sanctioned to Hi Mac Castings Private Limited by State Bank of India.

FIXED ASSETS :

• Land
• Building
• Plant and Machinery
• Furniture and Fixtures
• Computer
• Office Equipments
• Electrical Installations
• Wind Mill
• Vehicles
• Drum Rotator Machinery
• Diesel Generator
• Motor Car
• Bicycle
• Scooter
• Sterling Holiday Resort
• Fax Machine
• Air Conditioner
• KDV Technical Know-how
• Maize Harvester
• Telephone and other Instruments
• Pattern and Dies
• Cutting, Drilling and Grinding Machine
• Welding Machine
• Submersible Pump
• Patents
• Trademarks
• Mess Utensils
• Bio Gas Plant
• Mobile Phones

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.65.79

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	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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		47

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.