MIRA INFORM REPORT

Report Date :

20.02.2012

IDENTIFICATION DETAILS

Name :	FARIDA PRIME TANNERY PRIVATE LIMITED
Registered Office :	151/ 4 Mount Poonamalle Road, Ramapuram, Chennai- 600089, Tamil Nadu
Country :	India
Financials (as on) :	31.03.2010’
Date of Incorporation :	11.04.2005
Com. Reg. No.:	18-055925
Capital Investment/ Paid-up Capital:	Rs. 70.000 Millions
CIN No.: [Company Identification No.]	U19201TN2005PTC055925
TAN No.: [Tax Deduction & Collection Account No.]	CHEF03293D
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Finished Leather and shoe Uppers for Exports and domestic markets.
No. of Employees:	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (35)

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

Maximum Credit Limit :	USD 526000
Status :	Moderate
Payment Behaviour :	Slow but Correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. Profitability of the company appears to be low. However, trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for small 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

LOCATIONS

Registered Office :	151/ 4 Mount Poonamalle Road, Ramapuram, Chennai- 600089, Tamil Nadu, India
Tel. No.:	91-44-22522100 / 22522518 / 22522503 / 22521515 / 22521654
Fax No.:	91-44-22492734 / 22522734
E-Mail :	Farida.tannery@gems.vsnl.net.in fpt@vsnl.com holding@farida.co.in fptadmin@farida.com
Website :	http://www.farida.com
Tannery and Processing Unit :	Zubaida Building, Thuthipet Ambur, North Arcot District, Tamil Nadu, India
Tel No :	91-4174-244201
Branches :	11, Dr. T.V. Road, Chetpet, Chennai – 600031, Tamilnadu
Tel No :	91-44-28267439 / 28272020 / 26411220
Fax No :	91-44-28261598

DIRECTORS

(As On 30.09.2011)

Name :

Mr. Rafeeque Ahmed Mecca

Designation :

Director

Address :

10, Kothari Road, Nungambakkam, Chennai – 600034

Date of Birth/Age :

17.09.1947

Date of Appointment :

11.04.2005

DIN No :

00013749

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	L85110TN1979PLC008035	APOLLO HOSPITALS ENTERPRISE LIMITED	Director	29-12-79	29-12-79	-	Active	NO
2	U18209TN1981PTC008805	FARIDA CLASSIC SHOES PRIVATE LIMITED	Managing director	09-06-81	09-06-81	-	Active	NO
3	U65993TN1985PTC011781	FARIDA HOLDINGS PRIVATE LIMITED	Director	19-04-85	19-04-85	-	Active	NO
4	U18209TN1987PTC014919	DELTA SHOES PRIVATE LIMITED	Managing director	29-09-87	29-09-87	-	Active	NO
5	U73100TN1992NPL022530	INDIAN INSTITUTE OF LEATHER PRODUCTS	Director	23-04-92	23-04-92	-	Active	NO
6	U19201TN1995PTC030691	BAER SHOES (INDIA) PRIVATE LIMITED	Director	28-03-95	28-03-95	25-06-08	Active	NO
7	U19201TN1998PTC040339	INDIA SHOES EXPORTS PRIVATE LIMITED	Managing director	17-04-98	17-04-98	-	Active	NO
8	U19119TN1976PTC007207	FARIDA SHOES PRIVATE LIMITED	Managing director	01-01-00	01-01-00	-	Active	NO
9	U19201KA2001PTC029147	KENMORE SHOES PRIVATE LIMITED	Director	19-06-01	19-06-01	-	Active	NO
10	U45203TN2001NPL047485	AMBUR ECONOMIC DEVELOPMENT ORGANISATION	Director	23-07-01	23-07-01	-	Active	NO
11	U19129TN2004PTC053326	MADISON EXPORTS PRIVATE LIMITED	Director	26-05-04	26-05-04	-	Active	NO
12	U19201TN2004PTC053703	ASTON SHOES PRIVATE LIMITED	Managing director	12-07-04	12-07-04	-	Active	NO
13	U19112TN2005PTC055152	ARCOT SOLES PRIVATE LIMITED	Director	13-01-05	13-01-05	-	Active	NO
14	U74140TN2005PTC055310	FARIDA MANAGEMENT SERVICES PRIVATE LIMITED	Managing director	07-02-05	07-02-05	-	Strike off	NO
15	U74210TN2005PTC055311	FARIDA ENGINEERING SERVICES PRIVATE LIMITED	Managing director	07-02-05	07-02-05	-	Amalgamated	NO
16	U19116TN2005PTC055503	FARIDA XIEZHAN MOULDS PRIVATE LIMITED	Director	28-02-05	28-02-05	-	Amalgamated	NO
17	U19201TN2005PTC055925	FARIDA PRIME TANNERY PRIVATE LIMITED	Director	11-04-05	11-04-05	-	Active	NO
18	U19116TN2005PTC056220	AADIL ASHFAQUE & CO.PRIVATE LIMITED	Director	10-05-05	10-05-05	-	Active	NO
19	U19112TN2006PTC058989	JAFRA INSOLES INDIA PRIVATE LIMITED	Director	24-02-06	24-02-06	-	Active	NO
20	U93090TN1996NPL035469	INDIAN LEATHER INDUSTRY FOUNDATION	Director	05-08-06	05-08-06	-	Active	NO
21	U19201TN2004PTC053247	TOP FONDI SOLES (INDIA) PRIVATE LIMITED	Director	21-08-07	18-06-07	-	Amalgamated	NO
22	U19119TN1989PLC016997	AMBUR TANNERY EFFLUENT TREATMENT COMPANY LIMITED	Director	20-06-07	20-06-07	-	Active	NO
23	U93000TN2008NPL068574	CHENNAI ENVIRONMENTAL MANAGEMENT COMPANY OF TANNERS	Director	15-07-08	15-07-08	-	Active	NO
24	U63090TN2011PTC080447	WESTERN GATEWAY CARGO SERVICES PRIVATE LIMITED	Director	04-05-11	04-05-11	-	Active	NO

Name :

Mr. Israr Ahmed

Designation :

Director

Address :

10, Kothari Road, Nungambakkam, Chennai – 600034

Date of Birth/Age :

25.01.1972

Date of Appointment :

11.04.2005

DIN No :

00013799

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	U19201TN1998PTC040339	INDIA SHOES EXPORTS PRIVATE LIMITED	Director	17-04-98	17-04-98	-	Active	NO
2	U65993TN1985PTC011781	FARIDA HOLDINGS PRIVATE LIMITED	Director	01-01-00	01-01-00	-	Active	NO
3	U18209TN1995PTC032647	EXETER SHOES PRIVATE LIMITED	Managing director	01-01-00	01-01-00	-	Amalgamated	NO
4	U19201TN2001PTC046498	CHENNAI FOOTWEAR PRIVATE LIMITED	Director	25-01-01	25-01-01	-	Amalgamated	NO
5	U19201TN2005PTC055925	FARIDA PRIME TANNERY PRIVATE LIMITED	Director	11-04-05	11-04-05	-	Active	NO
6	U19201TN2003PTC050177	STANFORD SHOES PRIVATE LIMITED	Director	13-01-07	13-01-07	-	Amalgamated	NO
7	U19200TN2008PTC067408	PAALAR SHOES PRIVATE LIMITED	Director	21-04-08	21-04-08	-	Active	NO

Name :

Mr. Rasheed Ahmed Mecca

Designation :

Director

Address :

No. 6, Nawab Habibullah Avenue, Iind Cross Street, Anderson Road, Chennai - 600006

Date of Birth/Age :

01.01.1949

Date of Appointment :

11.04.2005

DIN No :

00013760

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	U65993TN1985PTC011781	FARIDA HOLDINGS PRIVATE LIMITED	Director	19-04-85	19-04-85	-	Active	NO
2	U18209TN1987PTC014919	DELTA SHOES PRIVATE LIMITED	Director	29-09-87	29-09-87	-	Active	NO
3	U18209TN1992PTC022111	FARIDA LEATHERWARE PRIVATE LIMITED	Director	31-01-92	31-01-92	-	Active	NO
4	U33209TN1999PTC043409	FARIDA NEWLINE STUDIO PRIVATE LIMITED	Director	26-10-99	26-10-99	-	Amalgamated	NO
5	U19201TN2001PTC046498	CHENNAI FOOTWEAR PRIVATE LIMITED	Director	25-01-01	25-01-01	-	Amalgamated	NO
6	U19201TN2005PTC055925	FARIDA PRIME TANNERY PRIVATE LIMITED	Director	11-04-05	11-04-05	-	Active	NO

Name :

Mr. Ashfaque Ahmed Mecca

Designation :

Director

Address :

10, Kothari Road, Nungambakkam, Chennai – 600034

Date of Birth/Age :

04.05.1973

Date of Appointment :

11.04.2005

DIN No :

00013807

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	U19119TN1976PTC007207	FARIDA SHOES PRIVATE LIMITED	Director	01-01-00	01-01-00	-	Active	NO
2	U65993TN1985PTC011781	FARIDA HOLDINGS PRIVATE LIMITED	Director	01-01-00	01-01-00	-	Active	NO
3	U19201KA2001PTC029147	KENMORE SHOES PRIVATE LIMITED	Director	19-06-01	19-06-01	-	Active	NO
4	U19201TN2003PTC050177	STANFORD SHOES PRIVATE LIMITED	Director	13-01-03	13-01-03	-	Amalgamated	NO
5	U19129TN2004PTC053326	MADISON EXPORTS PRIVATE LIMITED	Director	26-05-04	26-05-04	-	Active	NO
6	U19201TN2005PTC055925	FARIDA PRIME TANNERY PRIVATE LIMITED	Director	11-04-05	11-04-05	-	Active	NO
7	U19200TN2008PTC067408	PAALAR SHOES PRIVATE LIMITED	Director	21-04-08	21-04-08	-	Active	NO
8	U19201TN1998PTC040339	INDIA SHOES EXPORTS PRIVATE LIMITED	Whole-time director	01-10-11	01-10-11	-	Active	NO

Name :

Mr. Imdad Ahmed

Designation :

Director

Address :

No. 6, Nawab Habibullah Avenue, Iind Cross Street, Anderson Road, Chennai - 600006

Date of Birth/Age :

02.11.1977

Date of Appointment :

11.04.2005

DIN No :

00013823

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	U18209TN1995PTC032647	EXETER SHOES PRIVATE LIMITED	Director	01-01-00	01-01-00	-	Amalgamated	NO
2	U65993TN1985PTC011781	FARIDA HOLDINGS PRIVATE LIMITED	Director	01-01-00	01-01-00	-	Active	NO
3	U19201TN2005PTC055925	FARIDA PRIME TANNERY PRIVATE LIMITED	Director	11-04-05	11-04-05	-	Active	NO
4	U19201KA2001PTC029147	KENMORE SHOES PRIVATE LIMITED	Whole-time director	10-09-09	10-09-09	-	Active	NO

Name :

Mr. Iqbal Ahmed Mecca

Designation :

Director

Address :

10, Kothari Road, Nungambakkam, Chennai – 600034

Date of Birth/Age :

10.10.1969

Date of Appointment :

11.04.2005

DIN No :

00013788

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	U18209TN1987PTC014919	DELTA SHOES PRIVATE LIMITED	Director	29-09-87	29-09-87	-	Active	NO
2	U19201TN1992PTC022110	RIVIERA SHOES PRIVATE LIMITED	Director	31-01-92	31-01-92	-	Strike off	NO
3	U18209TN1992PTC022111	FARIDA LEATHERWARE PRIVATE LIMITED	Director	31-01-92	31-01-92	-	Active	NO
4	U73100TN1993GAP026146	AMBUR FDDI SHOE TECHNOLOGY CENTRE	Director	03-11-93	03-11-93	-	Active	NO
5	U65993TN1985PTC011781	FARIDA HOLDINGS PRIVATE LIMITED	Director	01-01-00	01-01-00	-	Active	NO
6	U18209TN1981PTC008805	FARIDA CLASSIC SHOES PRIVATE LIMITED	Director	01-01-00	01-01-00	-	Active	NO
7	U19201TN2005PTC055925	FARIDA PRIME TANNERY PRIVATE LIMITED	Director	11-04-05	11-04-05	-	Active	NO
8	U19112TN2006PTC058989	JAFRA INSOLES INDIA PRIVATE LIMITED	Director	24-02-06	24-02-06	-	Active	NO

Name :

Mr. Irshad Ahmed Mecca

Designation :

Director

Address :

No. 27/1, Sterling Road, Ist Cross, Nungambakkam, Chennai - 600034

Date of Birth/Age :

17.08.1968

Date of Appointment :

11.04.2005

DIN No :

00013774

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	U19201TN1992PTC022110	RIVIERA SHOES PRIVATE LIMITED	Director	31-01-92	31-01-92	-	Strike off	NO
2	U33209TN1999PTC043409	FARIDA NEWLINE STUDIO PRIVATE LIMITED	Director	26-10-99	26-10-99	-	Amalgamated	NO
3	U65993TN1985PTC011781	FARIDA HOLDINGS PRIVATE LIMITED	Director	01-01-00	01-01-00	-	Active	NO
4	U19119TN1976PTC007207	FARIDA SHOES PRIVATE LIMITED	Director	01-01-00	01-01-00	-	Active	NO
5	U19201KA2001PTC029147	KENMORE SHOES PRIVATE LIMITED	Director	19-06-01	19-06-01	-	Active	NO
6	U19129TN2004PTC053326	MADISON EXPORTS PRIVATE LIMITED	Director	26-05-04	26-05-04	-	Active	NO
7	U91110TN2004PTC053638	CONSORTIUM OF SHOE MANUFACTURERS PRIVATE LIMITED	Director	05-07-04	05-07-04	-	Active	NO
8	U19201TN2004PTC053703	ASTON SHOES PRIVATE LIMITED	Director	12-07-04	12-07-04	-	Active	NO
9	U19112TN2005PTC055152	ARCOT SOLES PRIVATE LIMITED	Director	13-01-05	13-01-05	-	Active	NO
10	U74140TN2005PTC055310	FARIDA MANAGEMENT SERVICES PRIVATE LIMITED	Director	07-02-05	07-02-05	-	Strike off	NO
11	U74210TN2005PTC055311	FARIDA ENGINEERING SERVICES PRIVATE LIMITED	Director	07-02-05	07-02-05	-	Amalgamated	NO
12	U19116TN2005PTC055503	FARIDA XIEZHAN MOULDS PRIVATE LIMITED	Director	28-02-05	28-02-05	-	Amalgamated	NO
13	U19201TN2005PTC055925	FARIDA PRIME TANNERY PRIVATE LIMITED	Director	11-04-05	11-04-05	-	Active	NO
14	U19112TN2006PTC058989	JAFRA INSOLES INDIA PRIVATE LIMITED	Director	24-02-06	24-02-06	-	Active	NO
15	U19201TN2004PTC053247	TOP FONDI SOLES (INDIA) PRIVATE LIMITED	Director	21-08-07	18-06-07	-	Amalgamated	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 30.09.2011)

Names of Shareholders	No. of Shares
Mr. Rafeeque Ahmed Mecca	10
Farida Holdings Private Limited, India	6999990
Total	7,000,000

(AS ON 30.09.2011)

Category	Percentage
Bodies corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Finished Leather and shoe Uppers for Exports and domestic markets.
Products :	· Ladies Shoes · Gents Shoes · Finished Leather · Shoe Uppers · Cow Leather · Sole Leather etc

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· State Bank of India, Leather and International Branch, MVJ Towers 177 / 1, P.H. Road, Kilpauk, Chennai – 600010, Tamil Nadu, India

· Corporation Bank, T Nagar, Chennai – 600017, Tamil Nadu , India

Facilities :

Rs in Millions

Secured Loan	31.03.2010	31.03.2009
State bank of India- term loan	0.000	0.100
State bank of India- PCFC	0.000	144.811
Corporation Bank Limited- Term Loan A/C	40.091	0.000
State Bank of India P.C. A/C	127.148	57.506
SBI Stand By Line of Credit	10.247	50.232
TOTAL	177.486	252.649

Banking Relations :	--
Auditors :
Name :	Kalyansundaram And Company Chartered Accountants
Address :	18 (Old No. 22) Second Cross Street, Lake Area, Nungambakkam, Chennai- 600034, Tamil Nadu , India
Tel. No.:	91-22-28172873
Fax No.:	91-22-28175393
PAN No.:	AAAFK0600Q
E-Mail :	Bks_chennai@dataone.in
Holding Company :	FARIDA HOLDINGS PRIVATE LIMITED
	CIN No : U65993TN1985PTC011781
Related Parties :	· Farida Claassc Shoes Private Limited · Arcot Shoes Private Limited · Mercury Shoes · Farida Shoes Private Limited · India Shoes Exports Private Limited · Delta Shoes Private Limited · Kenmore Shoes Private Limited

CAPITAL STRUCTURE

(As on 31.09.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
7,000,000	Equity Share	Rs.10/- each	Rs. 70.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
7,000,000	Equity Share	Rs.10/- each	Rs.70.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		70.000	70.000	70.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		61.495	41.136	23.753
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		131.495	111.136	93.753
LOAN FUNDS
1] Secured Loans		177.486	252.649	187.255
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		177.486	252.649	187.255
DEFERRED TAX LIABILITIES		59.200	59.220	40.000
TOTAL		368.181	423.005	321.008
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		203.499	193.857	121.558
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	290.579	230.335	246.908
	Sundry Debtors	151.464	81.547	176.787
	Cash & Bank Balances	4.182	5.096	2.251
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	108.810	91.492	83.842
Total Current Assets		555.035	408.470	509.788
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	265.883	129.602	215.465
	Other Current Liabilities	113.880	41.299	87.309
	Provisions	10.590	8.514	7.749
Total Current Liabilities		390.353	179.415	310.523
Net Current Assets		164.682	229.055	199.265
MISCELLANEOUS EXPENSES		0.000	0.092	0.184
TOTAL		368.181	423.005	321.008

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		TOTAL	1271.658	1174.499
Less	EXPENSES
		TOTAL	1240.564	1147.945
					NA
	PROFIT BEFORE TAX		31.094	26.554
Less	TAX		10.590	9.171
	PROFIT AFTER TAX		20.504	17.383
	Earnings Per Share (Rs.)		2.91	2.57

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	1.61	1.48	NA
Return on Total Assets (PBT/Total Assets}	(%)	4.10	4.41	NA
Return on Investment (ROI) (PBT/Networth)		0.24	0.24	NA
Debt Equity Ratio (Total Liability/Networth)		4.32	5.95	5.31
Current Ratio (Current Asset/Current Liability)		1.42	2.28	1.64

LOCAL AGENCY FURTHER INFORMATION

OPERATION :

The operations during the year resulted in a profit of Rs. 31.094 Millions mainly due to increase in export sales. After providing an amount of Rs. 10.590 Millions towards income tax and Rs. 0.145 Million towards fringe benefit tax, the balance profit of Rs. 20.359 millions is being carried to Balance Sheet.

With the view to conserve the resources of the company , the Directors do not recommend any dividend on the equity shares of the Company

Bankers Charges Report as per Registry

Corporate identity number of the company	U19201TN2005PTC055925
Name of the company	FARIDA PRIME TANNERY PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	151/ 4 Mount Poonamalle Road, Ramapuram, Chennai- 600089, Tamil Nadu, India
This form is for	Modification of charge
Charge identification number of the charge to be modified	90325456
Type of charge	· Immovable Property · Book Debts · Movable property · Hypothecation
Particular of charge holder	State Bank of India, Leather and International Branch, MVJ Towers 177 / 1, P.H. Road, Kilpauk, Chennai – 600010, Tamil Nadu, India
Nature of instrument creating charge	1)Supplemental Agreement of Loan for Increase in the overall limit (Form C.1-A) 2) Supplemental Agreement of Hypothecation of Goods and Assets for increase in the overall limit (Form C.2-A) 3) Letter regarding the grant individual limits within the overall limit (Form C.5) 4) EM Letters
Date of instrument Creating the charge	21.06.2011
Amount secured by the charge	Rs. 516.800 Millions
Brief of the principal terms an conditions and extent and operation of the charge	RATE OF INTEREST : As per Agreement TERMS OF PAYMENT : As per Agreement MARGIN: Raw Materials : 25% Stocks-in-Process : 25% Finished Goods : 25% Stores / Consumables : 25% LC / BG : 15% Letter of Comfort : 9.77% EXTENT AND OPERATION OF CHARGE : Exclusive first charge on the current assets, movable assets and immovable properties of the company to the extent of Rs.516.800 Millions (together with interest, costs, charges and other expenses which may be debited to the appropriate account(s) from time to time)
Description of the property charged indicating whether it is a charged on	Immovable properties
Short Particulars of the property charged	Primary Security:- EPC : Hypothecation charge over entire current assets, which include Raw Materials, Stock-in-Process, Finished Goods, Consumables, Stores, Spares, Receivables etc. FDB (LC) & FDB (Non-LC) / LC : Documents of title to goods and extension of charge over the entire current assets. BG / SBL : Extension of charge over the entire current assets. Letter of Comfort : Hypothecation charge over the entire assets acquired out of the Buyer's credit. Collateral Security:- 1)Description of properties details given below:- Leasehold rights or land belonging to Shri. M. Rasheed Ahmed measuring 3.73 acres being survey no.184/1 & 185/2, with super structures thereon owned by the company, situated at Ambur Town, Vaniyambadi Taluk, with ETP and other super structures constructed / to be constructed. 2) Leasehold rights or land measuring 4.86 acres in survey nos. 318/2, 318/1, 320/1, 319, 318/1, belonging to Shri, M. Rafeeque Ahmed with super structures thereon belonging to the company situated at Thuthipet village, Ambur, including building, ETP and other super structures constructed / to be constructed. 3) Land measuring 2200 sq ft situated at No.51 (old No.34) Old Bamboo Bazar Road, Civil Station, in corporation division No.57 (New No.69), Bangalore and the building constructed thereon. 4) Land measuring 1 ground & 1471 sq ft situated at R S No.449/6, and the building constructed thereon at No.11 (old No.54/1), Dr. T.V. Naidu Street, Pancharadi, Chetpet, Chennai - 600 034 belonging to M/s. Farida Prime Tannery Private Limited, as above properties to secure the limit of Rs.516.800 Millions
Date of instrument modifying the charge	20.06.2011
Particulars of the present modification	By the present modification, The various credit facilities enjoyed by the company now has been enhanced from Rs.442.000 Millions to Rs.516.800 Millions

FIXED ASSETS :

· Furniture And Fittings

· Motor Cycle

· Computer

· Fax Machine

· Air Conditioners

· Generator

· Refrigerator

· Machinery

· Scooter

· Weighing Scale

· Tannery Building

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.49.21
UK Pound	1	Rs.77.75
Euro	1	Rs.64.58

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--CREDIT LINES	1~10	3
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YED
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		35

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.