MIRA INFORM REPORT

Report Date :

27.07.2012

IDENTIFICATION DETAILS

Name :	MACHINO POLYMERS LIMITED (w.e.f.29.06.2007)
Formerly Known As :	MACHINO – BASELL INDIA LIMITED
Registered Office :	Plot No. 2, Sector 33, Delhi Jaipur Highway, Gurgaon – 122 001, Haryana
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	30.09.1996
Com. Reg. No.:	05 - 33306
Capital Investment/ Paid-up Capital:	Rs.117.218 Millions
CIN No.: [Company Identification No.]	U25201HR1996PLC033306
TAN No.: [Tax Deduction & Collection Account No.]	RTKM01626C
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufactures and Sells Compound of Polyproplene
No. of Employees:	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 4600000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Financial position of the company appears to be good. Trade relations are reported as decent. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered good for business dealings at usual trade terms and conditions.

NOTES:

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

ECGC Country Risk Classification List – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

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

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	A- (term Loan Facilities)
Rating Explanation	Low Credit risk
Date	30.08.2011

Rating Agency Name	ICRA
Rating	A- (Bank Guarantee facilities )
Rating Explanation	Low Credit risk
Date	30.08.2011

RBI DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

LOCATIONS

Registered Office/Head office/Factory :	Plot No. 2, Sector 33, Delhi Jaipur Highway, Gurgaon – 122 001, Haryana, India
Tel. No.:	91-124-4684200-201/4031856-60
Fax No.:	91-124-4684299/4031841
E-Mail :	administrator@machinopolymers.com ssingh1@machinopolymers.com
Area :	21.000 sq.m
Regional Office 1 :	A-204, IInd Floor, Parmar Trade Centre, Near Sadhu Vaswani Chowk, Pune-411001, Maharashtra, India
Tel. No.:	91-20-40064840
Fax No.:	91-20-40064840
Regional Office 2 :	80/2, Kattupakkam Main Road, Mount Poonamallee High Road, Chennai, Tamilnadu, India
Tel. No.:	91-44-26493101
Fax No.:	91-44-26493101
Factory 2 :	Survey No. 260, Kilai Village, Sriperumpudur, Taluka Chennai-600056, Tamilnadu, India

DIRECTORS

As on 13.07.2011

Name :

Mr. Muralidhar Jindal

Designation :

Managing Director

Address :

Jindal House 8A, Alipore Road, Kolkata- 700027, West Bengal, India

Date of Birth/Age :

28.01.1929

Qualification :

Graduate

Date of Appointment :

01.04.2012

Din No.:

00017753

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U28939WB1955PLC022441	MACHINO TECHNO SALES LIMITED	Director	01/12/2008	27/06/1955	-	Active	NO
2	U27109WB1965PTC026332	MACHINO FINANCE PVT LTD	Director	18/01/1965	18/01/1965	-	Active	NO
3	U51909WB1974PTC029686	RAJIV EXPORT INDUSTRIES PVT LTD	Director	04/10/1974	04/10/1974	-	Active	NO
4	U63022WB1979PTC032409	MACHINO TRANSPORT PVT LTD	Director	10/12/1979	10/12/1979	-	Active	NO
5	U51909WB1985PTC039586	MACHINO MOTORS PVT. LTD.	Director	04/10/1985	04/10/1985	-	Active	NO
6	U25201HR1996PLC033306	MACHINO POLYMERS LIMITED	Managing director	01/04/2012	30/09/1996	-	Active	NO
7	L25209HR2003PLC035034	MACHINO PLASTICS LIMITED	Whole-time director	21/09/2011	24/01/2003	-	Active	NO
8	U80302DL2005PTC137045	MACHINO ANIMATION PRIVATE LIMITED	Director	01/06/2005	01/06/2005	15/07/2008	Active	NO
9	U51103HR2008PLC038361	MACHINO AUTO COMP LIMITED	Director	19/09/2008	19/09/2008	-	Active	NO
10	U22122WB2003PTC095631	MACHINO MEDIA PRIVATE LIMITED	Director	14/06/2010	14/06/2010	-	Active	NO
11	U35900HR2010PTC040899	Machino Auto Comp Tooling Private Limited	Director	14/07/2010	14/07/2010	-	Active	NO

Name :

Mr. Sanjiv Jindal

Designation :

Director

Address :

A -10, New Friends Colony, New Delhi – 110065, India

Date of Birth/Age :

28.06.1957

Qualification :

Doctorate

Date of Appointment :

01.04.2012

Din No.:

00017902

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U28939WB1955PLC022441	MACHINO TECHNO SALES LIMITED	Director	24/03/1977	24/03/1977	-	Active	NO
2	U63022WB1979PTC032409	MACHINO TRANSPORT PVT LTD	Director	10/12/1979	10/12/1979	-	Active	NO
3	U74899DL1991PLC044850	GRANDMAASTTERS MOLD LIMITED	Director	14/07/1991	14/07/1991	-	Active	NO
4	U25201HR1996PLC033306	MACHINO POLYMERS LIMITED	Director	30/09/1996	30/09/1996	-	Active	NO
5	L25209HR2003PLC035034	MACHINO PLASTICS LIMITED	Managing director	01/04/2006	01/04/2006	-	Active	NO
6	U25209HR2012PLC044825	PRANAA PLASTICS LIMITED	Director	17/01/2012	17/01/2012	-	Active	NO

Name :

Mr. Ratan Lal Gaggar

Designation :

Director

Address :

11, Sarat Bose Raod, (Lansdown Raod) Kolkata -700020, West Bengal, India

Date of Birth/Age :

01.12.1932

Qualification :

Post Graduate

Date of Appointment :

12.02.1999

Din No.:

00322904

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	L20211WB1957PLC023493	SARDA PLYWOOD INDUSTRIES LTD	Director	28/06/1976	28/06/1976	-	Active	NO
2	L40200DL1968PLC005169	SOMANY CERAMICS LIMITED	Director	09/03/1984	09/03/1984	-	Active	NO
3	L74999WB1974PLC041725	TIL LIMITED	Director	14/05/1985	14/05/1985	-	Active	NO
4	U99999MH1974PTC017460	TIL LIMITED	Director	14/05/1985	14/05/1985	-	Not Available for eFiling	NO
5	U02005WB1949PLC018363	PAHARPUR COOLING TOWERS LTD	Director	30/12/1989	30/12/1989	-	Active	NO
6	L74140AS1974PLC001498	FINANCIAL MANAGEMENT SERVICES LIMITED	Director	05/02/1993	05/02/1993	13/07/2009	Under Process of Striking off	NO
7	L70101WB1989PLC047465	SUMEDHA FISCAL SERVICES LTD	Director	30/03/1993	30/03/1993	-	Active	NO
8	L40106DL1981PLC012228	SPML INFRA LIMITED	Director	30/06/1994	30/06/1994	-	Active	NO
9	U67120WB1995PTC071339	PREMIER STOCK BROKERS & FINANCIAL SERVICES PVT.LTD.	Director	03/05/1995	03/05/1995	-	Active	NO
10	U25201HR1996PLC033306	MACHINO POLYMERS LIMITED	Director	12/02/1999	12/02/1999	-	Active	NO
11	L17226WB1946PLC013554	EASTERN SILK INDUSTRIES LIMITED	Director	27/01/2005	27/01/2005	01/02/2011	Active	NO
12	U45400WB2007PTC115959	ENERGY PROPERTIES PRIVATE LIMITED	Director	05/11/2008	22/01/2008	-	Active	NO
13	U14290WB2008PTC125627	BHASKAR SILICON PRIVATE LIMITED	Director	30/09/2009	18/08/2008	25/04/2011	Active	NO

Name :

Mr. Arjun Jindal

Designation :

Whole-time director

Address :

Jindal House 8A, Alipore Road, Kolkata- 700027, West Bengal, India

Date of Birth/Age :

12.03.1980

Qualification :

Graduate

Date of Appointment :

16.01.2007

Din No.:

00729879

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U22122WB2003PTC095631	MACHINO MEDIA PRIVATE LIMITED	Director	09/01/2003	09/01/2003	-	Active	NO
2	U80302DL2005PTC137045	MACHINO ANIMATION PRIVATE LIMITED	Director	01/06/2005	01/06/2005	-	Active	NO
3	U25201HR1996PLC033306	MACHINO POLYMERS LIMITED	Whole-time director	01/04/2012	16/01/2007	-	Active	NO
4	U51909WB1974PTC029686	RAJIV EXPORT INDUSTRIES PVT LTD	Director	01/12/2007	01/12/2007	-	Active	NO
5	U51909WB1985PTC039586	MACHINO MOTORS PVT. LTD.	Director	01/12/2007	01/12/2007	-	Active	NO
6	U51103HR2008PLC038361	MACHINO AUTO COMP LIMITED	Director	19/09/2008	19/09/2008	-	Active	NO
7	U28939WB1955PLC022441	MACHINO TECHNO SALES LIMITED	Director	01/12/2008	01/12/2008	-	Active	NO
8	U50102DL2009PTC190368	ARGENTUM MACHINO PRIVATE LIMITED	Director	18/05/2009	18/05/2009	-	Active	NO
9	U35900HR2010PTC040899	Machino Auto Comp Tooling Private Limited	Director	14/07/2010	14/07/2010	-	Active	NO
10	U27109WB1965PTC026332	MACHINO FINANCE PVT LTD	Director	01/02/2012	01/02/2012	-	Active	NO

Name :

Mr. Krishan Kumar

Designation :

Director

Address :

B 151 SFS Flats, Shekh Sarai, Phase-1, New Delhi-110017, India

Date of Birth/Age :

01.07.1938

Qualification :

Doctorate

Date of Appointment :

30.06.2009

Din No.:

00972260

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U74900DL1996PTC076990	MARUTI SALES AND SERVICE (INDIA) PRIVATE LIMITED	Director	08/03/1996	08/03/1996	-	Strike off	NO
2	U74140DL1976PTC008245	J J IMPEX (DELHI) PRIVATE LIMITED	Nominee director	02/04/1998	02/04/1998	20/09/2007	Active	NO
3	L25209HR2003PLC035034	MACHINO PLASTICS LIMITED	Nominee director	23/05/2006	23/05/2006	16/10/2007	Active	NO
4	U25201HR1996PLC033306	MACHINO POLYMERS LIMITED	Director	30/06/2009	30/06/2009	-	Active	NO

Name :

Ms. Jyoti Asesh Dutta

Designation :

Director

Address :

1/357, Jodhpur Park, Kolkata-700068, West Bengal, India

Date of Birth/Age :

22.12.1966

Qualification :

Graduate

Date of Appointment :

01.09.2009

Din No.:

02819704

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U25201HR1996PLC033306	MACHINO POLYMERS LIMITED	Director	01/09/2009	01/09/2009	-	Active	NO
2	U29224GJ1987PLC010044	JOHN ENERGY LIMITED	Additional director	16/11/2011	16/11/2011	-	Active	NO

KEY EXECUTIVES

Name :	Ms. Sneha Singh
Designation :	Secretary
Address :	Ratan Lal Gaggar, 11, Sarat Bose Road, (Laonsown Road), Kolkata-700020, West Bengal, India
Date of Appointment :	01.02.2011
Pan No.:	CUDPS6981B

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 13.07.2011

Names of Shareholders	No. of Shares
M D Jindal	6331089
Kamala Jindal	150099
Sanjiivv Jindall	165
Rajiv Jindal	165
Machino Techno Sales Limited, West Bengal	357500
Machino Finance Private Limited, West Bengal	4282500
Arjun Jindal	600330
Total	11721848

As on 13.07.2011

Category	Percentage
Bodies corporate	39.58
Directors or relatives of directors	60.42
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufactures and Sells Compound of Polyproplene

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

State Bank of India, Industrial Finance Branch, 14^th Floor, Jawahar Vyapr Bahwan, 1^st Tolstoy Marg, New Delhi -110001, Delhi, India

Facilities :

Rs. In Millions

SECURED LOAN	31.03.2011	31.03.2010
Rupee term loans banks secured	0.000	100.00
Working capital loans banks secured	(A)472.670	216.718
Loans taken for vehicles secured	(B)0.656	1.780
Total	473.326	318.498

NOTE

(A) Note 1: Secured by way of pari passu first charge on entire current assets of the Company including stocks of raw material, goods in transit and book debts along with a pari passu charge on entire fixed assets of the Company.

(B) Note 2: Secured by way of hypothecation of motor vehicles purchased from proceeds of loan.

UNSECURED LOAN	31.03.2011	31.03.2010
Working capital loans others unsecured	19.000	0.000
Loans directors unsecured	18.000	0.000
Total	37.000	0.000

Banking Relations :	--
Auditors :
Name :	B S R and Company Chartered Accountant
Address :	Building no. 10, 8th floor, tower b, dlf cyber city, ph. - ii, Gurgaon – 122002, Haryana, India
Pan No.:	AAIFB0630K
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives:	· Machino Techno Sale Limited CIN No.: U28939WB1955PLC022441 · Machino Finance Private Limited CIN No.: U27109WB1965PTC026332 · Machino Plastics Limited CIN No.: L25209HR2003PLC035034 · Machino Auto Company Private Limited CIN No.: U51103HR2008PLC038361 · Machino Transport Private Limited CIN No.: U63022WB1979PTC032409

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
25000000	Equity Share	Rs.10/- each	Rs.250.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
11721848	Equity Share	Rs.10/- each	Rs.117.218 Millions

After 13.07.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
25000000	Equity Share	Rs.10/- each	Rs.250.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
23443696	Equity Share	Rs.10/- each	Rs.234.437 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		117.218	127.218	127.218
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		1035.252	928.398	851.161
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1152.470	1055.616	978.379
LOAN FUNDS
1] Secured Loans		473.326	318.498	386.451
2] Unsecured Loans		37.000	0.000	50.000
TOTAL BORROWING		510.326	318.498	436.451
DEFERRED TAX LIABILITIES		12.471	11.326	21.480
TOTAL		1675.267	1385.440	1436.310
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1030.060	987.724	976.461
Capital work-in-progress		13.156	13.337	10.235
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	388.481	324.537	185.821
	Sundry Debtors	547.550	436.436	361.594
	Cash & Bank Balances	90.828	58.588	34.555
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	69.661	64.403	67.082
Total Current Assets		1096.520	883.964	649.052
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	322.299	391.899	169.700
	Other Current Liabilities	54.113	53.571	24.900
	Provisions	88.057	54.115	4.838
Total Current Liabilities		464.469	499.585	199.438
Net Current Assets		632.051	384.379	449.614
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		1675.267	1385.440	1436.310

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	2434.064	1985.251	1661.638
		Other Income	40.476	32.726	12.537
		TOTAL (A)	2474.540	2017.977	1674.175
Less	EXPENSES
		Consumption materials changes inventories	1890.874	1522.511
		Manufacturing service costs	91.044	77.546
		Employee related expenses	69.587	53.657	1562.750
		Administrative selling other expenses	93.031	123.908
		TOTAL (B)	2144.536	1777.622	1562.750
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		330.004	240.355	111.425
Less	FINANCIAL EXPENSES (D)		52.738	64.902	62.633
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		277.266	175.453	48.792
Less/ Add	DEPRECIATION/ AMORTISATION (F)		32.113	29.554	26.656
	PROFIT BEFORE TAX (E-F) (G)		245.153	145.899	22.136
Less	TAX (H)		82.894	49.319	8.746
	PROFIT AFTER TAX (G-H) (I)		162.259	96.580	13.390
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		NA	NA	151.468
Add	Adjustment with respect to revised accounting standard 11		NA	NA	2.469
Less	APPROPRIATIONS
		Transfer to Capital redemption Reserve	NA	NA	6.800
		Adjustment on account of Buy back of shares	NA	NA	10.475
	BALANCE CARRIED TO THE B/S		162.259	96.580	150.052
	EARNINGS IN FOREIGN CURRENCY		10.600	3.555	2.850
	IMPORTS
	Raw Materials		939.047	824.394	432.293
	Stores & Spares		504.138	0.138	1.012
	Capital Goods		694.493	0.000	0.000
	TOTAL IMPORTS		2137.678	824.532	433.305
	Earnings Per Share (Rs.)		13.45	7.47	1.00

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	6.67	4.86	0.80
Net Profit Margin (PBT/Sales)	(%)	10.07	7.35	1.33
Return on Total Assets (PBT/Total Assets}	(%)	11.53	7.80	1.36
Return on Investment (ROI) (PBT/Networth)		0.21	0.14	0.02
Debt Equity Ratio (Total Liability/Networth)		0.85	0.77	0.65
Current Ratio (Current Asset/Current Liability)		2.36	1.77	3.25

LOCAL AGENCY FURTHER INFORMATION

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

OVER VIEW

During the year , the Company achieved a sale of 26015 MT against sales of 22837 MT in the corresponding previous financial year, an increase by over 14%. The net sales have grown up from Rs.1985.300 Millions to Rs.2434.100 Millions, an increase by over 22% over last year period. Company has achieved profit before taxes of Rs.242.492 Millions against previous year profit of Rs. 144.359 Millions. The improvement in profits has been achieved through effective utilization of its production capacities, appropriate management of manpower resources. Effective working capital management has contributed towards remarkable performance in achieving the growth in pretax profits of the Company. During the year Company has augmented its production capacities by installing two production lines for different capacities and has acquired land at Chennai for its expansion programmed. In line with the growth in Automobile sector and expected increase in the Market Shares, The Company’s sales volumes are expected to grow by over 18% in next year.

OUTLOOK

The Company is mainly dealing into Auto grade polymers and benefited by on going growth in the Automobile Industry. The demand in the industry is likely to be continued in the current year for which company has already started taking steps to meet anticipated growth. All major auto players of the Globe are having their sizable presence in the growing Indian market. The company is entering into new areas to widen the scope of work and to get maximum benefit of Automobile industry boom. Company is exploring the possibilities of the export aggressively. In the current scenario of rising crude oil prices internationally, high rate of inflation in India and rising interest rates , there would be stress to maintain the present level of profitability

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U25201HR1996PLC033306
Name of the company	VENUS WIRE INDUSTRIES PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Plot No. 2, Sector 33, Delhi Jaipur Highway, Gurgaon – 122 001, Haryana, India Email: ssingh1@machinopolymers.com
This form is for	Modification of charge
Charge identification number of the modified	10043785
Type of charge	· Immovable Property · Any interest in immovable property · Book debts · Movable property (not being pledge) · Floating charge · Others
Particular of charge holder	State Bank of India, Industrial Finance Branch, 14^th Floor, Jawahar Vyapr Bahwan, 1^st Tolstoy Marg, New Delhi -110001, Delhi, India Email ID: anupama.gupta@sbi.co.in
Nature of description of the instrument creating or modifying the charge	FORM C.1- a supplemental agreement of loan for increase in the overall limit. FORM C.2- a supplemental agreement of hypothecation of goods & assets for increase in the overall limit. FORM C.5 letter regarding the grant of individual limits within the overall limit.
Date of instrument Creating the charge	27.03.2012
Amount secured by the charge	Rs.525.000 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest CC- 3.00% above base rate, i.e. currently 13.00% p.a. penal interest @ 1% over and above the contracted rate of interest will be charged up till the security is perfected in all respects. Terms of Repayment Payable on demand, subject to annual renewal. the next renewal of limits is due on 12.01.2013. the company will submit all data for renewal of limits, at least 3 months before the said dat Margin Raw Material (Imported & Indigenous) - 25% Finished Goods - 25% Stock In Process - 25% Book Debts / Receivables (With Cover Period of 90 days) - 30%. Extent and Operation of the charge 100%
Short particulars of the property charged	Primary security (cc) - first pari passu charge, with standard chartered bank for its wc limits of Rs. 330.000 Millions., ICICI bank for WC limit of Rs.150.000 Millions and Allahabad bank for WC limits of Rs. 300.000 Millions. on entire current assets of the company both present & future, including stock of raw material, stock in process, goods in transit and book debts. on entire fixed assets of the company inclusive of negative lien on company's factory land and building at gurgaon
Particulars of the present modification	Memorandum of Agreement Dated 27.03.2012 for increase in overall limit to Rs.525.000 Millions subject to following sub limits A. Cash Credit (Stock and Book Debts) Rs 220.000 Millions B. Letter of Credit Rs.260.000 Millions C. Bank Guarantee Rs.15.000 Millions D. Forward Contract Limit Rs.30.000 Millions

Fixed Assets

• Freehold Land
• Building
• Plant and Machinery
• Computer
• Motor Cycle
• Furniture and Fixture
• Office Equipment
• Software

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.55.95
UK Pound	1	Rs.86.56
Euro	1	Rs.67.95

INFORMATION DETAILS

Report Prepared by :

BYI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	6
--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	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	NO
TOTAL		48

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

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

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

RATING EXPLANATIONS

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

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

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