MIRA INFORM REPORT

Report Date :

13.01.2012

IDENTIFICATION DETAILS

Name :	ASCENT HOTELS PRIVATE LIMITED
Registered Office :	Plot No. 114, Dr. E Moses Road,, Mumbai-400018, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	05.07.2005
Com. Reg. No.:	11-154475
Capital Investment / Paid-up Capital :	Rs.349.717 Millions
CIN No.: [Company Identification No.]	U55101MH2005PTC154475
TAN No.: [Tax Deduction & Collection Account No.]	MUMA26101F
Legal Form :	Private Limited Liability Company
Line of Business :	Hospitality Services.
No. of Employees :	25 [Approximately]

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 4800000
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is a company having moderate track. The company has started its commercial business activities recently in the financial year 2010-11. There appears some accumulated losses recorded by the company. However, trade relations are reported as fair. Business is active. Payments are unknown. The company can be considered for business dealings with some caution.

NOTES :

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

INFORMATION PARTED BY

Name :	Mr. Arvind Sharma
Designation :	Accounts Manager
Contact No.:	91-22-24818910
Date :	13.01.2012

LOCATIONS

Registered Office :	Plot No. 114, Dr. E Moses Road,, Mumbai-400018, Maharashtra, India
Tel. No.:	91-22-66627770/24818910/24818919
Fax No.:	91-22-66528088
E-Mail :	murali@magushotels.com renu.b@magushotels.com arvind.s@ascenthotels.com

DIRECTORS

As on 27.09.2011

Name :

Mr. Shiv Kumar Jatia

Designation :

Director

Address :

B-50,Gulmohar Park, New Delhi-110049, India

Date of Birth/Age :

12.10.1952

Date of Appointment :

31.03.2006

Din No.:

00006187

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	L55101DL1980PLC011037	ASIAN HOTELS (NORTH) LIMITED	Managing director	10-04-11	06-12-80	-	Active	NO
2	L26921GJ1985PLC008196	BELL CERAMICS LIMITED	Director	28-05-11	18-10-85	06-09-11	Active	NO
3	U24120AP1960PLC000888	FOODS FATS AND FERTILISERS LIMITED	Director	06-11-89	06-11-89	-	Active	NO
4	U74899DL1985PTC021808	CHANAKYA HOTELS PRIVATE LIMITED	Director	03-02-95	03-02-95	-	Active	NO
5	U74899DL1994PTC061697	ROSE SERVISED APARTMENTS PRIVATE LIMITED	Director	20-04-95	20-04-95	-	Active	NO
6	U74899DL1995PLC071257	ENERGY INFRASTRUCTURE (INDIA) LIMITED	Director	31-07-95	31-07-95	-	Active	NO
7	U74899WB1994PLC160633	REGENCY CONVENTION CENTRE AND HOTELS LIMITED (TRS. COMPANY PONDICHERRY TO DELHI)	Nominee director	28-12-95	28-12-95	31-10-08	Active	NO
8	U15114DL1997PTC084568	DANISCO (INDIA) PRIVATE LIMITED	Director	21-01-97	21-01-97	-	Active	NO
9	U51909DL1973PTC006489	WEL INTERTRADE PRIVATE LIMITED	Director	27-09-97	27-09-97	30-03-10	Active	NO
10	U55101DL1998PTC093696	COUNTRY DEVELOPMENT AND MANAGEMENT SERVICES PRIVATE LIMITED	Director	08-05-98	08-05-98	-	Active	NO
11	U74899DL1999PTC097862	PERGO INDIA PRIVATE LIMITED	Director	08-01-99	08-01-99	-	Active	NO
12	U64120DL1999PTC101120	BOLLYWOOD BROADCASTING COMPANY PRIVATE LIMITED	Director	26-10-99	26-10-99	-	Active	NO
13	U32201DL1999PTC101112	HIND BROADCASTING COMPANY PRIVATE LIMITED	Director	26-10-99	26-10-99	-	Active	NO
14	U22300DL1999PTC099966	SUN MEDIA PRIVATE LIMITED	Director	24-08-00	24-08-00	-	Active	NO
15	U99999MH1999PTC133968	MUMBAI BROADCASTING COMPANY PRIVATE LIMITED	Director	12-10-00	12-10-00	-	Active	NO
16	L45202TN1991PLC046402	MASCON GLOBAL LIMITED	Director	23-10-00	23-10-00	30-01-09	Active	NO
17	U99999DL2001PLC175768	MAGUS ESTATES AND HOTELS LIMITED	Director	01-06-09	13-11-01	-	Active	NO
18	U55101WB2002PLC160608	GJS HOTELS LIMITED	Director	09-12-02	09-12-02	31-10-08	Active	NO
19	U80301DL2002PTC118129	AMAZING ACADEMICS PRIVATE LIMITED	Director	20-12-02	20-12-02	-	Active	NO
20	U95201DL2003PTC122395	SMART REALTORS PRIVATE LIMITED	Director	25-09-03	25-09-03	-	Active	NO
21	U92111HR2000PLC034517	GURGAON RECREATIONS PARK LIMITED	Director	06-02-04	06-02-04	23-08-11	Active	NO
22	U55204DL2004PTC126559	AMAZING RECREATIONS PRIVATE LIMITED	Director	25-05-04	25-05-04	-	Active	NO
23	U55101DL2004PTC127439	SMART TOURISM PRIVATE LIMITED	Director	12-07-04	12-07-04	-	Active	NO
24	U70101DL2005PTC142889	RSJ DEVELOPERS PRIVATE LIMITED	Director	23-11-05	23-11-05	-	Active	NO
25	U55101DL2005PLC143141	LEADING HOTELS LIMITED	Director	01-12-05	01-12-05	-	Active	NO
26	U55101MH2005PTC154475	ASCENT HOTELS PRIVATE LIMITED	Managing director	15-12-10	31-03-06	-	Active	NO
27	U70101WB2006PTC109524	KEPPEL MAGUS DEVELOPMENT PRIVATE LIMITED	Director	22-05-06	22-05-06	-	Active	NO
28	U01403DL2006PTC151397	PRUDENTIAL HOTELS PRIVATE LIMITED	Director	28-07-06	28-07-06	-	Active	NO
29	U70101WB2006PTC109596	MAGUS BENGAL ESTATES PRIVATE LIMITED	Director	29-09-07	28-08-06	28-02-09	Active	NO
30	L55101DL2007PLC157518	ASIAN HOTELS (WEST) LIMITED	Director	04-07-08	12-07-07	11-02-10	Active	NO
31	L15122WB2007PLC162762	ASIAN HOTELS (EAST) LIMITED	Director	04-07-08	12-07-07	11-02-10	Active	NO
32	U74140DL2007PTC163275	ARIA HOTELS AND CONSULTANCY SERVICES PRIVATE LIMITED	Director	04-07-08	24-09-07	31-10-08	Active	NO
33	U45400WB2008PTC125527	NEWTOWN LEISURE PRIVATE LIMITED	Director	08-05-08	08-05-08	-	Active	NO
34	U45400WB2008PTC125526	MAGUS REAL ESTATES PRIVATE LIMITED	Director	08-05-08	08-05-08	25-03-10	Active	NO
35	U74899DL1981PTC012009	ASIAN HOLDINGS PRIVATE LIMITED	Director	10-06-08	30-05-08	-	Active	NO
36	U45400WB2008PTC126749	MAGUS URBAN PROJECTS PRIVATE LIMITED	Director	20-06-08	20-06-08	25-03-10	Active	NO
37	U45400WB2008PTC126755	NEWTOWN ESTATES PRIVATE LIMITED	Director	20-06-08	20-06-08	25-03-10	Active	NO
38	U51909WB2008PTC125609	AXIS COMMERCIAL PRIVATE LIMITED	Director	02-07-08	02-07-08	-	Active	NO
39	U45400WB2008PTC127983	MAGUS PROJECT SERVICES PRIVATE LIMITED	Director	29-07-08	29-07-08	25-03-10	Active	NO
40	U55101DL2010PTC198852	WISDOM HOTELS PRIVATE LIMITED	Director	09-02-10	09-02-10	-	Active	NO
41	U74899DL1951GAP001947	PHD CHAMBER OF COMMERCE AND INDUSTRY	Director	24-12-10	24-12-10	-	Active	NO
42	U55101DL2011PTC221767	ETERNAL HEALTHCARE SOLUTIONS PRIVATE LIMITED	Additional director	08-07-11	08-07-11	-	Active	NO

Name :

Mr. Adarsh Rajkumar Katia

Designation :

Director

Address :

5^th floor, Krishnabad Buldg, Gamadai Road, Mumbai-400026, Maharashtra, India

Date of Birth/Age :

15.11.1980

Date of Appointment :

06.07.2005

Din No.:

00136214

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	U72200MH2000PTC128445	AVENUE TECHNOLOGIES PRIVATE LIMITED	Director	25-08-00	25-08-00	-	Active	NO
2	U45200MH2002PTC136656	SRINIVASA DEVELOPERS PRIVATE LIMITED	Director	24-03-04	24-03-04	-	Dormant	NO
3	U99999DL2001PLC175768	MAGUS ESTATES AND HOTELS LIMITED	Managing director	01-06-09	03-05-04	-	Active	NO
4	U70102MH2004PTC148748	ZEUS BEVERAGES PRIVATE LIMITED	Director	22-09-04	22-09-04	-	Active	NO
5	U55101MH2005PTC154475	ASCENT HOTELS PRIVATE LIMITED	Director	06-07-05	06-07-05	-	Active	NO
6	U93090MH2006PTC165869	SWASTIK LAUNDRY SERVICES PRIVATE LIMITED	Director	29-11-06	29-11-06	-	Active	NO
7	U45400MH2007PTC176805	SEAROCK DEVELOPERS PRIVATE LIMITED	Director	15-12-07	15-12-07	06-08-09	Active	NO
8	U45400MH2008PTC178834	EMERALD CITY DEVELOPERS PRIVATE LIMITED	Director	12-02-08	12-02-08	-	Active	NO
9	U45200MH2008PTC180761	SOUTH SHORE DEVELOPERS PRIVATE LIMITED	Director	02-04-08	02-04-08	-	Active	NO
10	U55101DL2005PLC143141	LEADING HOTELS LIMITED	Director	30-09-08	05-09-08	-	Active	NO
11	L55101DL1980PLC011037	ASIAN HOTELS (NORTH) LIMITED	Managing director	01-01-11	30-01-09	-	Active	NO
12	U72200DL1999PTC102244	MITTAL COMMUNICATIONS PRIVATE LIMITED	Additional director	01-12-11	01-12-11	-	Active	NO

Name :

Mr. Rajkumar Subhkaran Jatia

Designation :

Director

Address :

5^th floor, Krishnabad Buldg, Warden Road, Mumbai-400026, Maharashtra, India

Date of Birth/Age :

14.10.1951

Date of Appointment :

06.07.2005

Din No.:

00136303

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	L55101DL1980PLC011037	ASIAN HOTELS (NORTH) LIMITED	Director	22-09-11	19-01-81	-	Active	NO
2	L26921GJ1985PLC008196	BELL CERAMICS LIMITED	Director	01-10-86	01-10-86	30-03-08	Active	NO
3	U74899DL1995PTC066635	PLASH FOOD PRIVATE LIMITED	Director	03-12-97	03-12-97	-	Active	NO
4	U72200MH2000PTC128445	AVENUE TECHNOLOGIES PRIVATE LIMITED	Director	25-08-00	25-08-00	-	Active	NO
5	U99999DL2001PLC175768	MAGUS ESTATES AND HOTELS LIMITED	Director	03-09-10	13-11-01	-	Active	NO
6	U55101MH2005PTC154475	ASCENT HOTELS PRIVATE LIMITED	Director	06-07-05	06-07-05	-	Active	NO
7	U01403DL2006PTC151397	PRUDENTIAL HOTELS PRIVATE LIMITED	Director	30-09-09	03-06-09	-	Active	NO
8	L24110MH1981PLC024742	DUJODWALA PRODUCTS LIMITED	Director	27-05-10	27-05-10	-	Active	NO

Name :

Mr. Vasudevan Ramamoorthy

Designation :

Director

Address :

315, Vatsalya Woods Bunglow, No. 1 North Main Road, Koregaon Park, Pune-411001, Maharashtra, India

Date of Birth/Age :

26.07.1952

Date of Appointment :

31.03.2006

Din No.:

00013519

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	L70100MH1986PLC038511	VASCON ENGINEERS LIMITED	Managing director	01-04-11	01-01-86	-	Active	NO
2	U70100MH1995PTC093794	NAGOAN RESORTS PRIVATE LIMITED	Director	03-02-96	03-02-96	01-04-07	Active	NO
3	U45201PN1996PTC099857	MARIGOLD PREMISES PRIVATE LIMITED	Director	03-10-97	03-10-97	02-12-06	Active	NO
4	U70102PN2000PTC015201	OMKAR VALLEY DEVELOPERS PRIVATE LIMITED	Director	23-07-01	23-07-01	15-03-07	Dormant	NO
5	U45202PN2003PTC018499	GOLDEN NEST COMMUNES PRIVATE LIMITED	Director	27-10-03	27-10-03	15-03-07	Strike off	NO
6	U45201PN2004PTC019443	SYNERGY DEVELOPMENT CORPORATION PRIVATE LIMITED	Director	28-06-04	28-06-04	26-07-04	Active	NO
7	U45209PN2006PLC021791	PREFERRED BUILDERS AND PROMOTERS REALTY LIMITED	Director	05-01-06	05-01-06	11-08-07	Active	NO
8	U45201MH2006PTC163672	MUMBAI ESTATES PRIVATE LIMITED	Additional director	11-08-06	11-08-06	15-03-07	Active	NO
9	U55101MH2005PTC154475	ASCENT HOTELS PRIVATE LIMITED	Director	12-03-08	12-03-08	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Arvind Sharma
Designation :	Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 27.09.2011

Names of Shareholders	No. of Shares
Adarsh Rajkumar Jatia	7400
Kross Border Trust Services Limited, Mauritius	28294762
Vascon Engineers Limited, India	6669492
Total	34971654

As on 27.09.2011

Equity Share Breakup	Percentage of Holding
Category
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	80.91
Bodies corporate	19.07
Directors or relatives of directors	0.02
Total	100.00

BUSINESS DETAILS

Line of Business :	Hospitality Services.
Brand Names :	“Hyatt Regency”
Imports :
Products :	Marbles
Countries :	· Singapore · Malaysia
Terms :
Selling :	Depends
Purchasing :	Depends

GENERAL INFORMATION

Customers :

Suppliers

No. of Employees :

25 [Approximately]

Bankers :

HDFC Bank, Mumbai, Maharashtra, India

Facilities :

Secured Loan	As on 31.03.2011 [Rs. in Millions]	As on 31.03.2010 [Rs. in Millions]
Foreign Currency Loans Banks	1388.855	282.555
Foreign Currency Loans Financial Institutions	860.000	1643.781
Working Capital Loans Banks	50.000	0.000
Working Capital Loans Others	8.197	7.177
Loans taken for Fixed Assets	0.863	1.676
Interest accrued due	18.553	9.825
Total	2326.468	1945.014
Unsecured Loan
Loans directors	10.000	0.000
Other debts	129.700	0.000
Total	139.700	0.000

Banking Relations :	--
Financial Institution:	Infrastructure Development Finance Company Limited, KRM Tower, 8^th Floor, No. 1, Harrington Road, Chetpet, Chennai-600031, Tamilnadu, India
Auditors :
Name :	D N Kanabar and Company Chartered Accountants
Address :	406, Maker Chamber, V, 221, Nariman Point, Mumbai-400021, Maharashtra, India
Pan No.:	AABPK1577D
Entities controlled by directors or their relatives:	· Asian Hotels Limited · Avenue Technologies Private Limited · Foods Fats and Fertilisers Limited · Leading Hotels Limited · Chanakya Hotels Private Limited · Pergo India Private Limited · Hind Broadcasting Company Private Limited · Sun Media Private Limited · R S J Developers Private Limited · Energy Infrastructure ( India ) Limited · Asian Hotels (North) Limited · Gurgaon Recreation Park Limited · Asian Holdings Private Limited · Magus Estates and Hotels Limited · Danisco Ingredients (i) Pvtl Limited · Bollywood Broadcasting Company Private Limited · Amazing Energy Private Limited · Keppel Magus Development Private Limited · Prudential Hotels Private Limited · Newtown Leisure Private Limited · Axis Comercial Private Limited · Novacare Drug Specialitites Private Limited · Rose-serviced Apartments P Limited · Zeus Developers (P) Limited · Vatsalaya Enterprises Private Limited · Smart Realtors Private Limited · Amezing Academics Private Limited · South Shore Developers Private Limited · Smart Tourism Private Limited · Vascon Engineers Private Limited · Plash Foods Private Limited · Swastik Laundary Services Private Limited · Emerald City Developers Private Limited · Srinivasa Developers Private Limited · Country Development and Management Services Private Limited · Wisdom Hotels Private Limited · Wel Intra trade Private Limited · Dujodwala Products Private Limited · Bell Ceramics Limited

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
40000000	Equity Shares	Rs.10/- each	Rs.400.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
34971654	Equity Shares	Rs.10/- each	Rs.349.717 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		349.717	203.634	203.634
2] Share Application Money		37.500	344.990	3.177
3] Reserves & Surplus		1048.850	610.603	610.603
4] (Accumulated Losses)		(215.320)	0.000	0.000
NETWORTH		1220.747	1159.227	817.414
LOAN FUNDS
1] Secured Loans		2326.468	1945.014	1198.370
2] Unsecured Loans		139.700	0.000	0.000
TOTAL BORROWING		2466.168	1945.014	1198.370
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		3686.915	3104.241	2015.784
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		3280.476	110.657	109.842
Capital work-in-progress		383.942	2678.555	1281.345
INCIDENTAL EXPENDITURE DURING CONSTRUCTION		0.000	0.000	323.853
INVESTMENT		0.000	0.000	30.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
ADVANCE TOWARDS CAPITAL EXPENDITURE		0.000	0.000	78.657
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	28.521	0.000	0.000
	Sundry Debtors	16.243	0.000	0.000
	Cash & Bank Balances	33.560	29.227	15.648
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	152.082	348.045	201.735
Total Current Assets		230.406	377.272	217.383
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	165.188	57.940	12.699
	Other Current Liabilities	41.690	7.212	15.506
	Provisions	1.031	0.000	0.000
Total Current Liabilities		207.909	65.152	28.205
Net Current Assets		22.497	312.120	189.178
MISCELLANEOUS EXPENSES		0.000	2.909	2.909
TOTAL		3686.915	3104.241	2015.784

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011
	SALES
		Income
		Other Income
		TOTAL	119.464
Less	EXPENSES
		Office Expenses
		Administrative Expenses	175.485
		Advertising Expenses
		TOTAL	175.485
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		(56.021)
Less	FINANCIAL EXPENSES		109.277
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		(165.298)
Less/ Add	DEPRECIATION/ AMORTISATION		47.112
	PROFIT / (LOSS) BEFORE PRIOR PERIOD ADJUSTMENTS AND TAX		(212.410)
Less	PRIOR PERIOD ADJUSTMENTS		2.910
	PROFIT / (LOSS) BEFORE TAX		(215.320)
Less	TAX		0.000
	PROFIT / (LOSS) AFTER TAX		(215.320)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		0.000
	BALANCE CARRIED TO THE B/S		(215.320)
	EARNINGS IN FOREIGN CURRENCY
		Sale of Rooms/ F and B	4.910
	IMPORTS
		Stores, Supplies and Spare Parts	11.026
		Food and Beverages	5.146
		Capital Goods	122.207
	TOTAL IMPORTS		138.379
	Earnings / (Loss) Per Share (Rs.)		(6.15)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	(180.23)	NA	NA
Return on Total Assets (PBT/Total Assets}	(%)	(6.13)	NA	NA
Return on Investment (ROI) (PBT/Networth)		(0.17)	NA	NA
Debt Equity Ratio (Total Liability/Networth)		2.19	1.73	1.50
Current Ratio (Current Asset/Current Liability)		1.11	5.79	7.70

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	165.188	57.940	12.699

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 one year	Yes
12) Profitability for last three years	No
13) Reasons for variation <> 20%	--
14) Estimation for coming financial year	No
15) Capital in the business	Yes
16) Details of sister concerns	--
17) Major suppliers	No
18) Major customers	Yes
19) Payments terms	Yes
20) Export / Import details (if applicable)	Yes
21) Market information	--
22) Litigations that the firm / promoter involved in	--
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	--

BACKGROUND:

Subject is in business of Construction and operation of 5 Star Hotel and Suites at Pune under the brand name of “Hyatt Regency”. The Company has commenced commercial operations of its Hotel block consisting of Rooms on 26^th October 2010. The Project consisting of Hyatt Regency Suites is presently under construction.

BANKERS CHARGES REPORT AS PER REGISTRY

This form is for	Modification of charge
Charge identification number of the modified	10084759
Corporate identity number of the company	U55101MH2005PTC154475
Name of the company	ASCENT HOTELS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Plot No. 114, Dr. E Moses Road,, Mumbai-400018, Maharashtra, India
Type of charge	Book Debts Movable Property (not being pledge) Immovable Property Others
Particular of charge holder	Infrastructure Development Finance Company Limited, KRM Tower, 8^th Floor, No. 1, Harrington Road, Chetpet, Chennai-600031, Tamilnadu, India
Email	selvaraj@idfc.com
Nature of description of the instrument creating or modifying the charge	No due Letter from IDFC Limited.
Date of instrument Creating the charge	19.04.2011
Amount secured by the charge	Rs.1450.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest As per Common Rupee Loan Agreement Terms of Repayment As per Common Rupee Loan Agreement Extent and Operation of the charge Present charge of Rs. 2500.000 Millions i.e.1st pari passu charge created in favour of (IDFC-TL of Rs.1050.000 Millions, HDFC Limited-TL of Rs.860.000 Millions, Canara Bk-TL of Rs. 310.000 Millions, Corp Bk-WC of Rs. 50.000 Millions and 2nd charge in favour of Corp Bk- BG to the extent of Rs. 230.000 Millions) stands reduced to Rs. 1450.000 Millions i.e.1st pari passu charge in favour of (HDFC Limited-TL of Rs.86.00 Millions, Canara Bk TL of Rs 310.000 Millions, CorpBk- WC of Rs. 50.000 Millions and 2nd charge in favour of Corp Bk-BG to the extent of Rs. 230.000 Millions)
Short particulars of the property charged	As per Indenture of Mortgage.
Particulars of the present modification	Present charge of Rs. 2500.000 Millions i.e.1st pari passu charge created in favour of (IDFC-TL of Rs.1050.000 Millions, HDFC Limited -TL of Rs.860.000 Millions, Canara Bk-TL of Rs. 310.000 Millions, Corp Bk-WC of Rs. 50.000 Millions and 2nd charge in favour of Corp Bk- BG to the extent of Rs. 230.000 Millions) stands reduced to Rs. 1450.000 Millions i.e.1st pari passu charge in favour of (HDFC Limited-TL of Rs.860.000 Millions, Canara Bk TL of Rs 310.000 Millions, Corp Bk- WC of Rs. 50.000 Millions and 2nd charge in favour of Corp Bk-BG to the extent of Rs. 230.000 Millions)

FIXED ASSETS:

· Land

· Air Conditioner

· Furniture and Fixtures

· Office Equipments

· Generator

· Computers and Peripherals

· 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.51.83
UK Pound	1	Rs.79.42
Euro	1	Rs.65.90

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	-
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	2
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		26

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
-	NB	New Business	-

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.