MIRA INFORM REPORT

Report Date :

17.02.2012

IDENTIFICATION DETAILS

Name :	FINOLEX PLASSON INDUSTRIES PRIVATE LIMITED [w.e.f. 16.06.2011]
Formerly Known As :	FINOLEX PLASSON INDUSTRIES LIMITED [w.e.f.24.12.2008] PLASTRO PLASSON INDUSTRIES [INDIA] LIMITED
Registered Office :	Block D1, Plot No. 10, MIDC, Chinchwad, Pune – 410506, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	27.07.1992
Com. Reg. No.:	11-067896
Capital Investment / Paid-up Capital :	Rs.100.000 millions
CIN No.: [Company Identification No.]	U41000MH1992PTC067896
TAN No.: [Tax Deduction & Collection Account No.]	PNEF00451D
PAN No.: [Permanent Account No.]	AABCP1939K
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of agricultural irrigation products.
No. of Employees :	200 [Approximately]

RATING & COMMENTS

MIRA’s Rating :

Ba [50]

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

Maximum Credit Limit :	USD 1890000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a well established company having satisfactory track. The company is doing well. 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.

INFORMATION PARTED BY

Name :	Mr. Mukesh Bhasale
Designation :	Purchase Manager
Contact No.:	91-20-27408300
Date :	16.02.2012

LOCATIONS

Registered Office :	Block D1, Plot No. 10, MIDC, Chinchwad, Pune – 410506, Maharashtra, India
Tel. No.:	91-20-27408300
Fax No.:	91-20-22933121
E-Mail :	Mukesh.bhasale@fpil.in Satish.ketkar@fpil.in
Website :	http://www.fpil.in
Location :	Owned
Corporate Office :	4^th Floor, P – 14, Rajiv Gandhi Infotech Park, Phase – I, MIDC, Hinjewadi, Pune – 411057, Maharashtra, India
Factory :	Plot No.399, Urse, Taluka Maval, District Pune – 410506, Maharashtra, India
Tel. No.:	91-2114-237045 / 6 / 7 / 8
Fax No.:	91-2114-237044
Email :	finolexplasson@fpil.in
Location :	Owned
Branch Office :	Located at : Bangalore Baroda Coimbatore Secunderabad

DIRECTORS

As on 27.09.2011

Name :

Mr. Mukesh Dolumal Katara

Designation :

Director

Address :

IndiaKatara Dental Private Limited, Apurva Complex, Pune University Road, Near Sindh Housing Society, Aundh, Pune – 411007, Maharashtra, India

Date of Birth/Age :

10.07.1957

Date of Appointment :

27.07.1992

DIN :

00286037

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U41000MH1992PTC067896	FINOLEX PLASSON INDUSTRIES PRIVATE LIMITED	Director	27/07/1992	27/07/1992	Active	NO
2	U31112MH1993PTC073139	KATARA DENTAL PRIVATE LIMITED	Managing director	26/07/1993	26/07/1993	Active	NO

Name :

Mr. Vijay Kishan Chhabria

Designation :

Managing Director

Address :

Vijdeep, 472A, Harekrishna Mandir Path, Model Colony, Shivaji Nagar, Pune – 411016, Maharashtra, India

Date of Birth/Age :

23.02.1961

Date of Appointment :

13.03.2010

DIN :

01403853

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	L31300MH1967PLC016531	FINOLEX CABLES LIMITED	Whole-time director	1/7/2008	25/02/1993	31/03/2010	Active	NO
2	U41000MH1992PTC067896	FINOLEX PLASSON INDUSTRIES Private Limited	Managing director	13/03/2010	13/03/2010	-	Active	NO
3	U01122RJ2007PLC024246	RAJASTHAN OLIVE CULTIVATION LIMITED	Director	7/12/2011	9/6/2011	-	Active	NO

Name :

Mr. Kishan Parsram Chhabria

Designation :

Director

Address :

Vijdeep, 472A, Harekrishna Mandir Path, Model Colony, Shivaji Nagar, Pune – 411016, Maharashtra, India

Date of Birth/Age :

20.12.1933

Date of Appointment :

13.03.2010

DIN :

00016995

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	L40108PN1981PLC024153	FINOLEX INDUSTRIES LIMITED	Whole-time director	1/8/2008	28/03/1981	Active	NO
2	U01134PN2006PTC128847	PRABODHAN FARMS PRIVATE LIMITED	Director	29/09/2007	8/8/2006	Amalgamated	NO
3	U01134PN2006PTC128846	INDRANEEL AGRO PRIVATE LIMITED	Director	29/09/2007	8/8/2006	Amalgamated	NO
4	U01134PN2006PTC128838	SUTEJ AGRO FARMS PRIVATE LIMITED	Director	29/09/2007	8/8/2006	Amalgamated	NO
5	U01119PN2006PTC128882	AJINKYA AGRI FARMS PRIVATE LIMITED	Director	29/09/2007	14/03/2007	Amalgamated	NO
6	U01119PN2006PTC128881	INDRAJEET AGRO PRIVATE LIMITED	Director	29/09/2007	14/03/2007	Amalgamated	NO
7	U01119PN2006PTC128880	AVNISH AGRI FARMS PRIVATE LIMITED	Director	29/09/2007	14/03/2007	Amalgamated	NO
8	U01409PN2007PTC130025	GAURI AGRO PRIVATE LIMITED	Director	23/04/2007	23/04/2007	Amalgamated	NO
9	U01130PN2007PTC130026	VED AGRI FARMS PRIVATE LIMITED	Director	23/04/2007	23/04/2007	Amalgamated	NO
10	U01130PN2007PTC130071	ANTARA AGRO PRIVATE LIMITED	Director	30/04/2007	30/04/2007	Amalgamated	NO
11	U45203PN2007PLC129575	FINOLEX INFRASTRUCTURE LIMITED	Director	29/09/2008	29/09/2007	Active	NO
12	U01122PN2007PTC131206	SANJAY AGRI FARMS PRIVATE LIMITED	Director	31/12/2007	31/12/2007	Amalgamated	NO
13	U01122PN2007PTC131205	KETAN AGRI FARMS PRIVATE LIMITED	Director	31/12/2007	31/12/2007	Amalgamated	NO
14	U01122PN2007PTC131204	OMKAR AGRI FARMS PRIVATE LIMITED	Director	31/12/2007	31/12/2007	Amalgamated	NO
15	U01111PN2008PTC131936	HARKRISHAN AGRI FARMS PRIVATE LIMITED	Director	5/5/2008	5/5/2008	Active	NO
16	U01111PN2008PTC131934	AMARDAS AGRI FARMS PRIVATE LIMITED	Director	5/5/2008	5/5/2008	Amalgamated	NO
17	U01122PN2008PTC131933	HARGOBIND AGRI FARMS PRIVATE LIMITED	Director	5/5/2008	5/5/2008	Amalgamated	NO
18	U01200PN2008PTC132608	ATHARVA AGRI FARMS PRIVATE LIMITED	Director	12/8/2008	12/8/2008	Active	NO
19	U01200PN2008PTC132607	INDRAYANI AGRI FARMS PRIVATE LIMITED	Director	12/8/2008	12/8/2008	Amalgamated	NO
20	U01200PN2008PTC132606	PRATHAMESH AGRI FARMS PRIVATE LIMITED	Director	12/8/2008	12/8/2008	Active	NO
21	U01120PN2009PTC134534	BELA AGRI FARMS PRIVATE LIMITED	Director	20/08/2009	20/08/2009	Active	NO
22	U01200PN2009PTC134533	ORCHID AGRI FARMS PRIVATE LIMITED	Director	20/08/2009	20/08/2009	Active	NO
23	U01120PN2009PTC134532	SAFFRON AGRI FARMS PRIVATE LIMITED	Director	20/08/2009	20/08/2009	Active	NO
24	U41000MH1992PTC067896	FINOLEX PLASSON INDUSTRIES PRIVATE LIMITED	Director	30/09/2010	13/03/2010	Active	NO

Name :

Mr. Satish Shriram Ghatpande

Designation :

Whole-time Director

Address :

Vishwas Bunglow, 257/4/14, Baner Behind Anand Park, Aundh, Pune – 411007, Maharashtra, India

Date of Birth/Age :

18.03.1953

Date of Appointment :

15.02.2003

DIN :

01311789

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U41000MH1992PTC067896	FINOLEX PLASSON INDUSTRIES PRIVATE LIMITED	Whole-time director	15/02/2003	15/02/2003	Active	NO
2	U01122RJ2007PLC024246	RAJASTHAN OLIVE CULTIVATION LIMITED	Director	19/04/2007	19/04/2007	Active	NO

Name :

Mr. Sanjay Khatau Asher

Designation :

Director

Address :

32, Modi Street, Fort, Mumbai – 400001, Maharashtra, India

Date of Birth/Age :

26.11.1964

Date of Appointment :

20.09.2003

DIN :

00008221

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	U15141MP1992PLC007176	DEWAS SOYA LIMITED	Director	12/9/2011	29/07/1994	-	Active	NO
2	U65920MH1994PTC080585	SEENOL FINANCE AND INVESTMENTS PRIVATE LIMITED	Director	27/01/1995	27/01/1995	18/03/2010	Active	NO
3	U24231MH1979PTC020957	FINOLIB CHEMICALS PVT LTD	Director	30/09/1995	30/09/1995	-	Amalgamated	NO
4	L31300MH1967PLC016531	FINOLEX CABLES LIMITED	Director	1/7/1998	1/7/1998	-	Active	NO
5	U63000MH1998PTC117292	ALLIED PICKFORDS INDIA PRIVATE LIMITED	Director	1/12/1998	1/12/1998	-	Active	NO
6	U65993MH1980PTC022723	MAJESTY INVESTMENTS PRIVATE LIMITED	Director	18/03/1999	18/03/1999	-	Amalgamated	NO
7	U31300MH1971PTC015021	ORBIT ELECTRICALS PRIVATE LIMITED	Director	18/03/1999	18/03/1999	-	Active	NO
8	U26954MH1969PTC014245	SIPOREX INDIA Private LIMITED	Director	29/04/1999	29/04/1999	-	Active	NO
9	U63000MH1999PTC121101	AL MOVERS PRIVATE LIMITED	Director	2/8/1999	2/8/1999	-	Active	NO
10	L01542KA1995PLC019046	SHREE RENUKA SUGARS LIMITED	Director	5/8/1999	5/8/1999	-	Active	NO
11	U27108TN1999PTC069389	MIGATRONIC INDIA PRIVATE LIMITED	Director	7/9/1999	7/9/1999	29/06/2009	Active	NO
12	U51900MH1999PTC122481	DIAMANT BOART MARKETING PRIVATE LIMITED	Director	1/11/1999	1/11/1999	-	Active	NO
13	L22200MH1993PLC071431	REPRO INDIA LIMITED	Director	2/5/2000	2/5/2000	-	Active	NO
14	U92132MH1995PLC085835	INDUSIND MEDIA AND COMMUNICATION LIMITED	Director	29/06/2000	29/06/2000	31/12/2006	Active	NO
15	U33111MH2000FTC129835	TEVAPHARM INDIA PRIVATE LIMITED	Director	1/12/2000	1/12/2000	8/9/2011	Active	NO
16	U85199MH2002PTC135700	ARJOHUNTLEIGH HEALTHCARE INDIA PRIVATE LIMITED	Director	30/04/2002	30/04/2002	-	Active	NO
17	U66010PN2000PLC015329	BAJAJ ALLIANZ GENERAL INSURANCE COMPANY LIMITED	Director	6/6/2002	6/6/2002	-	Active	NO
18	U66010PN2001PLC015959	BAJAJ ALLIANZ LIFE INSURANCE COMPANY LIMITED	Director	6/6/2002	6/6/2002	-	Active	NO
19	U24230MH2002PTC136896	MEPHA PHARMA INDIA PRIVATE LIMITED	Director	20/08/2002	20/08/2002	-	Strike off	NO
20	U65990MH1993FTC074460	MORGAN STANLEY INVESTMENT MANAGEMENT PRIVATE LIMITED	Director	9/4/2003	9/4/2003	-	Active	NO
21	U41000MH1992PTC067896	FINOLEX PLASSON INDUSTRIES PRIVATE LIMITED	Director	20/09/2003	20/09/2003	-	Active	NO
22	U29260MH2002PTC137202	ZINSER TEXTILE SYSTEMS PRIVATE LIMITED	Director	27/09/2003	27/09/2003	-	Active	NO
23	U74140MH2004PTC144831	A L RECORDS MANAGEMENT PRIVATE LIMITED	Director	3/3/2004	3/3/2004	-	Active	NO
24	L29199GJ1981PLC028741	INTEGRA ENGINEERING INDIA LIMITED	Director	11/3/2004	11/3/2004	18/02/2011	Active	NO
25	U92419MH2000PTC129811	CRICINFO ONLINE INDIA PRIVATE LIMITED	Director	16/04/2004	16/04/2004	-	Active	NO
26	U72900MH2001PTC131322	CRICINFO DATA SERVICES PRIVATE LIMITED	Director	16/04/2004	16/04/2004	-	Active	NO
27	U74140MH2004PTC146033	N V ADVISORY SERVICES PRIVATE LIMITED	Director	30/04/2004	30/04/2004	-	Active	NO
28	L22219DL1955PLC211606	INFOMEDIA 18 LIMITED	Director	24/05/2004	24/05/2004	21/08/2008	Active	NO
29	U74210MH2003PTC142289	ENGINEERING AND DESIGNS TECNIMONT ICB PRIVATE LIMITED	Director	22/02/2005	22/02/2005	31/03/2008	Amalgamated	NO
30	U29120MH2005PTC152258	SAURER PRECICOMP PRIVATE LIMITED	Director	29/03/2005	29/03/2005	-	Amalgamated	NO
31	U30009MH1991PTC064182	I2IT PRIVATE LIMITED	Director	23/08/2006	28/01/2006	5/2/2011	Active	NO
32	U25209MH1991PLC060602	KRYFS POWER COMPONENTS LIMITED	Director	18/05/2006	18/05/2006	-	Active	NO
33	U64202PN1999PLC013499	DIVINET ACCESS TECHNOLOGIES LIMITED	Additional director	4/8/2006	4/8/2006	5/4/2010	Active	NO
34	U45201PN2006FTC138676	BIOPHARMAX INDIA PRIVATE LIMITED	Director	15/09/2006	15/09/2006	10/3/2008	Active	NO
35	U60231TN2006PTC061597	C.H. ROBINSON WORLDWIDE FREIGHT INDIA PRIVATE LIMITED	Director	27/11/2006	27/11/2006	1/12/2006	Active	NO
36	L99999MH1964PLC012835	ASIAN ELECTRONICS LIMITED	Director	23/12/2006	23/12/2006	5/11/2008	Active	NO
37	U66010MH2007PLC166770	UNIVERSAL SOMPO GENERAL INSURANCE COMPANY LIMITED	Director	5/1/2007	5/1/2007	12/1/2007	Active	NO
38	U72900MH2005PLC157255	SPARSH BPO SERVICES LIMITED	Director	14/09/2007	23/01/2007	7/7/2011	Active	NO
39	U45203PN2007PLC129575	FINOLEX INFRASTRUCTURE LIMITED	Director	7/2/2007	7/2/2007	18/12/2010	Active	NO
40	L17120MH1984PLC033553	MANDHANA INDUSTRIES LIMITED	Director	16/05/2007	16/05/2007	-	Active	NO
41	U29253DL2007PTC161715	INDO-FILL ELASTOMER PRIVATE LIMITED	Director	30/09/2008	16/05/2007	-	Active	NO
42	L36759MH1985PLC036759	SHARP INDIA LIMITED	Director	29/08/2008	23/07/2007	-	Active	NO
43	U29269MH2007PTC174534	ALLMA MACHINES PRIVATE LIMITED	Director	26/09/2007	26/09/2007	-	Strike off	NO
44	U29261MH2007PTC174544	VOLKMANN MACHINES PRIVATE LIMITED	Director	27/09/2007	27/09/2007	-	Strike off	NO
45	U29261MH2007PTC174543	OERLIKON TEXTILE COMPONENTS INDIA PRIVATE LIMITED	Director	27/09/2007	27/09/2007	-	Amalgamated	NO
46	U29261MH2007PTC174542	NEUMAG MACHINES PRIVATE LIMITED	Director	27/09/2007	27/09/2007	-	Strike off	NO
47	U74140PN2007PTC131026	VALUEQB CONSULTING PRIVATE LIMITED	Director	22/11/2008	14/12/2007	-	Active	NO
48	U29253MH2007PTC176977	BARMAG MACHINES PRIVATE LIMITED	Director	19/12/2007	19/12/2007	-	Strike off	NO
49	U29259GJ1962PTC001177	PEASS INDUSTRIAL ENGINEERS PRIVATE LIMITED	Director	27/08/2008	29/01/2008	-	Active	NO
50	U25200MH2006PTC161549	NARENDRA PLASTIC PRIVATE LIMITED (PART IX)	Additional director	31/01/2008	31/01/2008	27/03/2008	Active	NO
51	U22219MH2008PTC181740	HH PRINT MANAGEMENT INDIA PRIVATE LIMITED	Director	29/04/2008	29/04/2008	-	Active	NO
52	U74140MH2008PTC183020	WACHOVIA ADVISORY SERVICES PRIVATE LIMITED	Director	2/6/2008	2/6/2008	5/11/2008	Active	NO
53	U63000MH2008PTC188331	MASTER VOSS INTERNATIONAL PROJECTS PRIVATE LIMITED.	Director	18/09/2009	20/11/2008	-	Active	NO
54	L24119PN1951PLC008409	SUDARSHAN CHEMICAL INDUSTRIES LIMITED	Director	24/01/2009	24/01/2009	-	Active	NO
55	U27109PN1986FTC040525	HOGANAS INDIA PRIVATE LIMITED	Alternate director	7/5/2009	7/5/2009	-	Active	NO
56	U29253MH2010PTC199933	SCHLAFHORST MACHINES PRIVATE LIMITED	Director	10/2/2010	10/2/2010	-	Active	NO
57	L99999MH1961PLC012185	BALKRISHNA INDUSTRIES LIMITED	Director	29/05/2010	29/05/2010	-	Active	NO
58	U93000MH2010PTC199627	ENAM INFRASTRUCTURE TRUSTEESHIP SERVICES PRIVATE LIMITED	Director	12/7/2010	12/7/2010	-	Active	NO
59	U27205MH2007PLC172598	TRIBHOVANDAS BHIMJI ZAVERI LIMITED	Director	4/7/2011	14/12/2010	-	Active	NO
60	L34101TN1948PLC000105	ASHOK LEYLAND LIMITED	Director	19/07/2011	21/12/2010	-	Active	NO
61	U55101MH2010PTC209517	INDIAN COOKERY PRIVATE LIMITED	Director	1/3/2011	1/3/2011	-	Active	NO
62	L29150PN1989PLC054143	SANGHVI MOVERS LIMITED	Additional director	30/09/2011	30/09/2011	-	Active	NO
63	U31900MH1998PTC117068	RAVE TECHNOLOGIES (INDIA) PRIVATE LIMITED	Additional director	11/11/2011	11/11/2011	2/12/2011	Active	NO
64	L29309PN1991PLC063045	INNOVENTIVE INDUSTRIES LIMITED	Additional director	16/12/2011	16/12/2011	-	Active	NO
65	U74120MH2011PTC225156	LR SCANDPOWER RISK CONSULTANCY PRIVATE LIMITED	Director	20/12/2011	20/12/2011	-	Active	NO
66	U74120MH2012PTC225641	WIFAG-POLYTYPE INDIA MARKETING PRIVATE LIMITED	Director	2/1/2012	2/1/2012	14/02/2012	Active	NO

Name :

Mr. Tsvi Tsur

Designation :

Director

Address :

Kibbutz Gvat, Israel – 30050

Date of Birth/Age :

01.08.1951

Date of Appointment :

23.02.1993

DIN :

01977652

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U41000MH1992PTC067896	FINOLEX PLASSON INDUSTRIES PRIVATE LIMITED	Director	23/02/1993	23/02/1993	Active	NO
2	U01122RJ2007PLC024246	RAJASTHAN OLIVE CULTIVATION LIMITED	Director	25/05/2007	18/05/2007	Active	NO
3	U74140PN2009PTC134366	VENDIA MANAGEMENT SERVICES PRIVATE LIMITED	Director	23/07/2009	23/07/2009	Active	NO

Name :

Mr. Tova Posner Henkin

Designation :

Director

Address :

Maagan Michael, D.N. Menashe, Israel – 37805

Date of Birth/Age :

19.02.1946

Date of Appointment :

16.09.1998

DIN :

00111916

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U41000MH1992PTC067896	FINOLEX PLASSON INDUSTRIES PRIVATE LIMITED	Director	16/09/1998	16/09/1998	Active	NO
2	U01210MH1999PTC119449	DHUMAL PLASSON EQUIPMENTS INDIA PRIVATE LIMITED	Nominee director	16/04/1999	16/04/1999	Active	YES

Name :

Mr. Prabhakar Dattatraya Karandikar

Designation :

Director

Address :

705, Saptagiri, Near Pancrd Club, Baner Pune – 411045, Maharashtra, India

Date of Birth/Age :

30.12.1949

Date of Appointment :

16.07.2009

DIN :

02142050

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U32202MH2007PLC176153	IL AND FS RENEWABLE ENERGY LIMITED	Director	19/06/2008	11/3/2008	Active	NO
2	U67200MH2004PTC145829	CABAL INSURANCE BROKING SERVICES PRIVATE LIMITED	Director	26/08/2008	26/08/2008	Active	NO
3	L40108PN1981PLC024153	FINOLEX INDUSTRIES LIMITED	Director	28/08/2009	27/06/2009	Active	NO
4	U41000MH1992PTC067896	FINOLEX PLASSON INDUSTRIES PRIVATE LIMITED	Director	16/07/2009	16/07/2009	Active	NO
5	U74999PN2002PLC016834	BVG INDIA LIMITED	Director	30/09/2010	27/03/2010	Active	NO
6	L74210TN2000PLC045167	SHRIRAM EPC LIMITED	Director	9/9/2011	29/06/2010	Active	NO
7	U01111DL1969SGC005045	STATE FARMS CORPORATION OF INDIA LIMITED	Director	23/07/2010	23/07/2010	Active	NO

Name :

Mr. Gal Wexsler

Designation :

Director

Address :

Maagan Michael, D.N. Menashe, Israel – 37805

Date of Birth/Age :

08.09.1963

Date of Appointment :

03.12.2008

DIN :

03364449

KEY EXECUTIVES

Name :	Mr. Mukesh Bhasale
Designation :	Purchase Manager
Name :	Mr. Kishore P Shah
Designation :	Secretary
Address :	12, Om Ganesh Society, 713, Budhwar Peth, Opposite Sakal Office, Pune – 411002, Maharashtra, India
Date of Birth/Age :	09.04.1973
Date of Appointment :	09.06.2010
PAN :	AWUPS3281R

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 27.09.2011

Names of Shareholders	No. of Shares
P P Chhabria	20
m. D. Katara	20
K. P. Chhabria	20
V.K. Chhabria	20
S.S. Sanzgiri	20020
Coated Fabrics Private Limited, India	429880
Majesty Investments Private Limited, India	550020
Finolex Industries Limited, India	4635000
Finolex Cables Limited, India	1000000
Plaschin Limited, Israel	3365000
Total	10000000

As on 27.09.2011

Equity Share Break Up 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	33.65
Bodies corporate	66.15
Other top fifty shareholders	0.20
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of agricultural irrigation products.

Products :

Products Description	ITC Code No.
Irrigation Lateral, Drippers, Parts and Accessories	842490

Exports :

Products :

• Agricultural Irrigation Products

Countries :

• Israel

Imports :

Products :

• Raw Material

Countries :

• Israel
• Italy

Terms :

Selling :

Cash / Advance

Purchasing :

Cash / Advance

GENERAL INFORMATION

Customers :

Farmer

No. of Employees :

200 [Approximately]

Bankers :

• Bank Of Baroda, Pimpri Branch, Pimpri, Pune - 411018, Maharashtra, India
• Saraswat Cooperative Bank Limited, Pimpri Branch, Pune, Maharashtra, India
• The Saraswat Co - Operative Bank Limited, Rasec, F. C. Road, Pune - 411004, Maharashtra, India

Facilities :

Secured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
Rupee term loans from banks	62.125	15.438
Working capital loans from banks	93.623	44.375
Total	155.748	59.813
Unsecured Loan	Rs. In Millions 31.03.2011	Rs. In Millions 31.03.2010
Deferred sales tax loan	13.261	15.986
Other debt	41.509	28.205
Total	54.770	44.191

Banking Relations :	--
Auditors :
Name :	Deloitte Haskins and Sells Chartered Accountants
Address :	706, 'B' Wing, 7th Floor, ICC Trade, International Convention Center, Senapati Bapat Road, Pune-411016, Maharashtra, India
PAN :	AACFD4815A
Associates Companies :	Finolex Industries Limited Finolex Cables Limited Finprop Advisory Services Private Limited Plaschin Limited, Israel Plasson Limited, Israel Motay Limited. Kaya Software Private Limited
Investment in Joint Venture:	Rajasthan Olive Cultivation Limited

CAPITAL STRUCTURE

As on 27.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
12,750,000	Equity Shares	Rs.10/- each	Rs.127.500 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10,000,000	Equity Shares	Rs.10/- each	Rs.100.000 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		100.000	100.000	100.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		372.640	245.247	136.460
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		472.640	345.247	236.460
LOAN FUNDS
1] Secured Loans		155.748	59.813	100.002
2] Unsecured Loans		54.770	44.191	27.011
TOTAL BORROWING		210.518	104.004	127.013
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		683.158	449.251	363.473
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		171.712	102.593	103.965
Capital work-in-progress		66.703	4.311	0.987
INVESTMENT		7.525	7.525	7.525
DEFERREX TAX ASSETS		4.253	2.420	4.235
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	167.307	155.498	187.380
	Sundry Debtors	678.047	515.371	327.868
	Cash & Bank Balances	93.958	166.581	65.193
	Other Current Assets	0.820	0.546	0.480
	Loans & Advances	36.464	23.810	41.249
Total Current Assets		976.596	861.806	622.170
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	303.152	267.172	286.964
	Other Current Liabilities	180.256	206.417	57.149
	Provisions	60.223	55.815	31.296
Total Current Liabilities		543.631	529.404	375.409
Net Current Assets		432.965	332.402	246.761
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		683.158	449.251	363.473

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income		1351.473	1210.277
		Other Income		18.466	6.408
		TOTAL (A)	1695.730	1369.939	1216.685
Less	EXPENSES
		Raw Material consumption and changes in FG		820.029	808.526
		Personnel Expenses	1420.860	101.866	103.441
		Operating and other Expenses		207.495	205.541
		TOTAL (B)	1420.860	1129.390	1117.508
	PROFIT/[LOSS] BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		274.870	240.549	99.177
Less	FINANCIAL EXPENSES (D)		27.520	27.528	28.068
	PROFIT/[LOSS] BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		247.350	213.021	71.109
Less/ Add	DEPRECIATION/ AMORTISATION (F)		17.710	14.074	13.183
	PROFIT / [LOSS] BEFORE TAX (E-F) (G)		229.640	198.947	57.926
Less	TAX		73.190	66.838	24.875
	Prior Period Items		0.000	0.000	1.041
	PROFIT / [LOSS] AFTER TAX		156.450	132.109	32.010
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		NA	125.535	107.225
Less	APPROPRIATIONS
		Transfer to General Reserve	17.500	15.000	2.000
		Proposed Dividend	25.000	20.000	10.000
		Tax on Dividend	4.050	3.321	1.700
	BALANCE CARRIED TO THE B/S		109.900	219.322	125.535
	EARNINGS IN FOREIGN CURRENCY		1.614	0.000	NA
	Earnings/[Loss] Per Share (Rs.)		15.64	13.21	3.20

Expected Sales (2011-2012) : Rs.1600.000 millions

The above information has been parted by Mr. Mukesh Bhasale [Purchase Manager].

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	9.23	9.64	2.63
Net Profit Margin (PBT/Sales)	(%)	NA	14.72	4.79
Return on Total Assets (PBT/Total Assets}	(%)	20.00	20.63	7.98
Return on Investment (ROI) (PBT/Networth)		0.48	0.58	0.24
Debt Equity Ratio (Total Liability/Networth)		1.59	1.83	2.12
Current Ratio (Current Asset/Current Liability)		1.80	1.63	1.66

LOCAL AGENCY FURTHER INFORMATION

Details of Sundry Creditors:

Particulars	31.03.2011 (Rs. in millions)	31.03.2010 (Rs. in millions)	31.03.2009 (Rs. in millions)
Sundry Creditors
-dues to micro and small enterprises	1.528	2.522	1.891
-dues to others	301.624	264.650	154.258
-Acceptances	0.000	0.000	130.815
Total	303.152	267.172	286.964

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	Yes
Capital the business	No
Details of sister concerns	No
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	-

Operations :

The sales for the year were at Rs.1671.470 million (last year Rs.1351.470 million) show an increase of 23% over the previous year sales.

The profit before tax has increased to Rs.229.640 millions as against Rs. 198.950 millions for the previous year.

During the year, the Company initiated major expansion plan and the civil work was completed. The orders for new extruder lines were placed to enhance the production capacity. The Company also put into operation new moulds to manufacture its own drippers for captive consumption.

Current Year’s Prospects:

The new machines will be operational from September 2011 and it will help to enhance, the sales in the second half of the current year. It includes one extruder line to make HDPE pipes used in the Sprinkler Systems, which are recently added to the Company’s product range. The Company has also taken adequate measures to gear up with the necessary manpower and other infrastructural support.

The micro irrigation market in India continues to grow and so does competition. Your Company, with indigenization and increasing the presence in more and more states, has adequately positioned itself for the same. However, this will require capacity enhancing on an ongoing basis.

Nature of Operations:

Finolex Plasson Industries Private Limited (‘the Company’) is a joint venture with Finolex Industries Limited and its associates, holding about 66.35% equity and Plaschin Limited, Israel holding the balance 33.65%.

The Company was incorporated under the Companies Act, 1956 in July 1992, now having with its registered office at Urse, near Pune. The Company is engaged in manufacturing micro irrigation systems, fittings, accessories and range of irrigation components and offers a wide range of products suitable for different sectors of agricultural activity.

Coversion of the status of the company from ‘Public Limited’ to ‘Private Limited’:

As per proceeds of the Extra-ordinary General Meeting dated 8th February, 2011; the conversion of the status of the Company from ‘Public Limited’ to ‘Private Limited’ has been consented by the Ministry of Corporate Affairs, Pune, with effect from 16th June, 2011.

In effect, the word ‘Private’ is added to the existing name of the Company and the new name of the Company is now ‘Finolex Plasson Industries Private Limited’ (‘FPIPL’).’

Bankers Charges Report as per Registry

Corporate identity number of the company	U41000MH1992PTC067896
Name of the company	FINOLEX PLASSON INDUSTRIES PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Block D1, Plot No 10, MIDC Chinchwad, Pune – 410506, Maharashtra, India
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	90082461
Type of charge	Book Debts Movable Property Immovable Property Floating Charge Others – plant and machinery
Particular of charge holder	Bank of Baroda, Pimpri Branch, Pimpri, Pune - 411018, Maharashtra, India Email : chinch@bankofbaroda.co.in
Nature of instrument creating charge	Fourth Supplemental Joint Deed of Modification Cum Further Charge of Hypothecation Dated 21/12/2011
Date of instrument Creating the charge	21.12.2011
Amount secured by the charge	Rs.1002.800 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest - Variable as per Banks sanctioned letters from time to time. BOB- Base rate+ 1BPS CBI- Base rate+ 1BPS HDFC- Base rate+ 1BPS Terms of Repayment - On demand fund based and non fund based facilities and term loans in 54 equal installments. Margin - 25% for Term Loans. Extent and Operation of the charge - 1) First Pari passu Charge of Hypothecation in joint favour of Bank of Baroda and Central Bank of India on all Current Assets. 2) First Exclusive Charge of Hypothecation in favour of HDFC Bank over Movable Fixed Assets financed out of Term Loan of Rs. 150.000 millions of HDFC Bank. 3) First Pari passu Charge of Hypothecation in joint favour of Bank of Baroda, Central Bank of India and HDFC Bank over movable Fixed Assets (excluding exclusively Charged Fixed Assets.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Whole movable plant and machinery and other movable assets excluding those forming parts of current assets, Both present and future of borrowers situated at Urse Tal-Maval, Dist-Pune or where ever else situated. Book debts, receivables, stocks, finished goods, spares, plant and machinery, consumables.
Date of instrument modifying the charge	26.11.2008
Particulars of the present modification	The existing charges of Rs.815.200 millions has now been increased to Rs. 1002.800 millions (Modified Charge is Non Fund based Rs.747.800 millions, Fund based limit is Rs. 105.000 and Term Loans of Rs.150.000 millions more particularly stated in sixth supplemental Memorandum of deposit of title deeds dated 21/12/2011).

FIXED ASSETS :

• Land
• Building
• Plant and Machinery
• Furniture and Fixtures
• Computer
• Office Equipments
• Electrical Installations
• 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 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.49.25
UK Pound	1	Rs.77.45
Euro	1	Rs.64.89

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		50

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.