MIRA INFORM REPORT

Report Date :

30.07.2012

IDENTIFICATION DETAILS

Name :	ASSOCIATE HIGH PRESSURE TECHNOLOGIES PRIVATE LIMITED (w.e.f.27.03.2008)
Formerly Known As :	AXIS ENTERPRISES PRIVATE LIMITED
Registered Office :	Plot No. 543 to 560 – Extended Area, Kandla Sez, Gandhidham - 370230, Gujarat
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	01.12.2004
Com. Reg. No.:	04-045068
Capital Investment / Paid-up Capital :	Rs. 220.000 Millions
CIN No.: [Company Identification No.]	U55100GJ2004PTC045068
PAN No.: [Permanent Account No.]	AAHCA1017H
Legal Form :	Private Limited Liability Company
Line of Business :	Manufactures and offers the widest rage of high pressure seamless steel CNG cylinders (Type1) for various on board automobile applications like trucks, buses, cars, utility vehicles etc and CNG storage and transportation cascades.
No. of Employees :	100 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Maximum Credit Limit :	USD 670000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track. It has incurred loss during 2011. Accumulated losses recorded by the company appears to be increasing over years. Financial position of the company appears to be under pressure. Business is active. Payments are reported to be slow. The company can be considered for business dealings with great caution.

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	Term Loans = LBB- (Stable)
Rating Explanation	LBB- = High Credit risk and inadequate credit quality
Date	Feb 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 :	Plot No. 543 to 560 – Extended Area, Kandla Sez, Gandhidham - 370230, Gujarat, India
Tel. No.:	Not Available
Mobile No.:	91-9820003260 [Mr. Ajay Desai]
Fax No.:	Not Available
E-Mail :	hiranandani_3@dataone.in
Corporate Office :	47 Victoria Road, Byculla, Mumbai – 400 027, Maharashtra, India
Tel. No.:	91-22-23728820
Fax No.:	91-22-23732222
E-Mail :	axisenterprise55@gmail.com
Area :	60000 Sq. ft.
Location :	Owned

DIRECTORS

AS ON 26.09.2011

Name :

Mr. Manoharlal Satramdas Agicha

Designation :

Chairman

Address :

6, Perry Cross Road, Bandra, Mumbai-400050, Maharashtra, India

Date of Birth/Age :

21.04.1945

Date of Appointment :

01.04.2008

DIN No.:

00364700

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	U20101MH1986PTC039719	ASSOCIATE LUMBERS PRIVATE LIMITED	Director	01/05/1986	01/05/1986	-	Active	NO
2	U70200MH1989PTC052479	ASSOCIATE INFRATECH (I) PRIVATE LIMITED	Director	06/07/1989	06/07/1989	-	Active	NO
3	U02000MH1989PLC053993	TIMBER IMPORTERS ASSOCIATION INDIA LIMITED	Director	23/10/1989	23/10/1989	-	Active	NO
4	U45200MH1994PTC078445	PEARLQUEEN REAL ESTATE AND DEVELOPERS PRIVATE LIMITED	Director	16/06/1994	16/06/1994	-	Active	NO
5	U45200MH1994PTC079129	TOUCHWOOD REAL ESTATE PRIVATE LIMITED	Director	24/06/1994	24/06/1994	-	Active	NO
6	U65990MH1994PTC079715	ASSOCIATE HOLDINGS PRIVATE LIMITED	Director	19/07/1994	19/07/1994	-	Active	NO
7	L24230AP1989PLC009458	TRANS MEDICARE LIMITED	Director	01/08/1994	01/08/1994	06/08/2009	Active	NO
8	U45200MH1994PTC080135	ASSOCIATE NIWAS DEVELOPERS PRIVATE LIMITED	Director	19/08/1994	19/08/1994	-	Active	NO
9	U45200MH1994PTC081456	SILVER VALLEY PROPERTIES PRIVATE LIMITED	Director	26/09/1994	26/09/1994	-	Active	NO
10	U45200MH1994PTC083520	PRIME CONSTRUCTIONS AND DEVELOPERS PRIVATE LIMITED	Director	06/12/1994	06/12/1994	-	Active	NO
11	U45200MH1995PTC084606	ISLAND BUILDERS AND DEVELOPERS PRIVATE LIMITED	Director	13/01/1995	13/01/1995	-	Active	NO
12	U01130MH1995PTC093416	ASSOCIATE PLANTATIONS PRIVATE LIMITED	Director	09/10/1995	09/10/1995	-	Active	NO
13	U74940MH1995PTC094790	PRIME HI-TECH STUDIOS PRIVATE LIMITED	Director	27/11/1995	27/11/1995	-	Active	NO
14	U65923MH1991PLC063056	PREMIUM FINANCIAL SERVICES LIMITED	Director	04/12/1995	04/12/1995	18/08/2010	Active	NO
15	U20100MH1998PTC117102	ISLAND WOOD WORKS PRIVATE LIMITED	Director	13/11/1998	13/11/1998	-	Active	NO
16	U26100MH1999PTC121928	ISLAND GLASS AND GLAZING PRIVATE LIMITED	Director	24/09/1999	24/09/1999	-	Active	NO
17	U72900MH2000PTC129030	VIZWARE INFOTECH (INDIA) PRIVATE LIMITED	Director	06/10/2000	06/10/2000	-	Active	NO
18	U20100MH1991PTC060280	ASSOCIATE PLYWOOD INDUSTRIES PRIVATE LIMITED	Director	11/03/2002	11/03/2002	-	Active	NO
19	U40101MH2005PTC151501	ASSOCIATE ENERGY PRIVATE LIMITED	Director	22/02/2005	22/02/2005	-	Active	NO
20	U45205MH2005PTC151581	ASSOCIATE EXPRESSWAY REALTY PRIVATE LIMITED	Director	24/02/2005	24/02/2005	-	Active	NO
21	U70100MH2005PTC157459	AMETHYST ESTATES PRIVATE LIMITED	Director	22/11/2005	22/11/2005	-	Active	NO
22	U70100MH2005PTC157486	RIVERWOOD ESTATE PRIVATE LIMITED	Director	23/11/2005	23/11/2005	-	Active	NO
23	U70100MH2005PTC157485	OPAL ESTATES PRIVATE LIMITED	Director	23/11/2005	23/11/2005	10/11/2009	Active	YES
24	U70100MH2005PTC158395	DAISIES ESTATES PRIVATE LIMITED	Director	22/12/2005	22/12/2005	-	Active	NO
25	U20213KA2007PLC041502	ASSOCIATE DECOR LIMITED	Director	19/02/2007	19/02/2007	-	Active	NO
26	U45102MH2006PTC158722	SAPNA CONTRACTORS AND ENGINEERS PRIVATE LIMITED	Director	03/08/2007	03/08/2007	-	Active	NO
27	U70101MH2008PTC180576	ASSOCIATE LAND DEVELOPERS PRIVATE LIMITED	Director	28/03/2008	28/03/2008	-	Active	NO
28	U70101MH2008PTC180573	ASSOCIATE HEIGHTS ESTATE PRIVATE LIMITED	Director	28/03/2008	28/03/2008	-	Active	NO
29	U55100GJ2004PTC045068	ASSOCIATE HIGH PRESSURE TECHNOLOGIES PRIVATE LIMITED	Director	01/04/2008	01/04/2008	-	Active	NO
30	U45400MH2008PTC180655	ASSOCIATE HERITAGE RESTORATION AND INFRASTRUCTURE PROJECTS PRIVATE LIMITED	Director	01/04/2008	01/04/2008	-	Active	NO
31	U20212MH2008PTC180898	JAWAHAR SAW MILLS PRIVATE LIMITED	Director	07/04/2008	07/04/2008	-	Active	NO
32	U45400MH2008PTC181368	ASSOCIATE TOWNSHIP BUILDERS PRIVATE LIMITED	Director	21/04/2008	21/04/2008	-	Active	NO
33	U45202MH2008PTC181367	ASSOCIATE GRIH NIRMAN PRIVATE LIMITED	Director	21/04/2008	21/04/2008	-	Active	NO
34	U70101MH1994PTC078627	SHAMIANA CONSTRUCTIONS PRIVATE LIMITED	Director	15/12/2008	15/12/2008	-	Active	NO
35	U70100MH2010PTC208682	ORIGIN VENTURE PRIVATE LIMITED	Director	06/10/2010	06/10/2010	-	Active	NO
36	U45402MH2010PTC208925	ASSOCIATE SHIVAM REALTY PRIVATE LIMITED	Director	13/10/2010	13/10/2010	-	Active	NO
37	U70102MH2010PTC206107	VIBRANT VENTURE PRIVATE LIMITED	Additional director	25/04/2012	25/04/2012	-	Active	NO
38	U70109MH2011PTC211968	ACCESS NIWAS CONSTRUCTION PRIVATE LIMITED	Additional director	25/04/2012	25/04/2012	-	Active	NO

Name :

Mr. Ramchand Kotumal Issrani

Designation :

Managing director

Address :

Plot No. 75, Sector 4, Gandhidham-370201, Gujarat, India

Date of Birth/Age :

11.08.1959

Date of Appointment :

01.12.2004

DIN No.:

00310339

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	Company/ LLP Status	Defaulting status
1	U45201GJ1997PTC032518	AJANTA SHELTERS PRIVATE LIMITED	Director	16/06/1997	16/06/1997	Active	NO
2	U55100GJ2004PTC045068	ASSOCIATE HIGH PRESSURE TECHNOLOGIES PRIVATE LIMITED	Managing director	07/07/2008	01/12/2004	Active	NO
3	U55101GJ2007PTC050098	A&I HOSPITALITY PRIVATE LIMITED	Director	26/02/2007	26/02/2007	Active	NO
4	U55101GJ2009PTC058827	AKHIL PALACE HOTELS PRIVATE LIMITED	Director	09/12/2009	09/12/2009	Active	NO
5	U45200GJ2011PTC065794	AKB SHELTERS PRIVATE LIMITED	Director	08/06/2011	08/06/2011	Active	NO

Name :

Mr. Mohamed Farouk Suleman Darvesh

Designation :

Director

Address :

7, Perry Cross Road, Bandra, Mumbai-400050, Maharashtra, India

Date of Birth/Age :

20.11.1952

Date of Appointment :

13.08.2005

DIN No.:

00364297

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	U02001MH1979PTC021905	F S D TIMBERS PRIVATE LIMITED	Director	16/11/1979	16/11/1979	-	Active	NO
2	U20101MH1986PTC039719	ASSOCIATE LUMBERS PVT LTD	Director	01/05/1986	01/05/1986	-	Active	NO
3	U70200MH1989PTC052479	ASSOCIATE INFRATECH (I) PRIVATE LIMITED	Director	06/07/1989	06/07/1989	-	Active	NO
4	U02000MH1989PLC053993	TIMBER IMPORTERS ASSOCIATION INDIA LIMITED	Managing director	23/10/1989	23/10/1989	-	Active	NO
5	U20100MH1991PTC060280	ASSOCIATE PLYWOOD INDUSTRIES PRIVATE LIMITED	Director	05/02/1991	05/02/1991	-	Active	NO
6	U70101MH1994PTC078627	SHAMIANA CONSTRUCTIONS PRIVATE LIMITED	Director	10/06/1994	10/06/1994	-	Active	NO
7	U65990MH1994PTC079715	ASSOCIATE HOLDINGS PRIVATE LIMITED	Director	19/07/1994	19/07/1994	-	Active	NO
8	U45200MH1994PTC081238	EXOTICA CONSTRUCTION AND BUILDERS PRIVATE LIMITED	Director	19/09/1994	19/09/1994	-	Active	NO
9	U01130MH1995PTC093416	ASSOCIATE PLANTATIONS PRIVATE LIMITED	Director	09/10/1995	09/10/1995	-	Active	NO
10	U74940MH1995PTC094790	PRIME HI-TECH STUDIOS PRIVATE LIMITED	Director	27/11/1995	27/11/1995	-	Active	NO
11	U17110GJ1994PLC023540	PADMANABH ALLOYS AND POLYMERS LIMITED	Director	30/04/1996	30/04/1996	09/06/2012	Active	NO
12	U45200MH1994PTC079129	TOUCHWOOD REAL ESTATE P LTD.	Director	30/09/2004	30/09/2004	-	Active	NO
13	U40101MH2005PTC151501	ASSOCIATE ENERGY PRIVATE LIMITED	Director	22/02/2005	22/02/2005	-	Active	NO
14	U45205MH2005PTC151581	ASSOCIATE EXPRESSWAY REALTY PRIVATE LIMITED	Director	24/02/2005	24/02/2005	-	Active	NO
15	U55100GJ2004PTC045068	ASSOCIATE HIGH PRESSURE TECHNOLOGIES PRIVATE LIMITED	Director	13/08/2005	13/08/2005	-	Active	NO
16	U70100MH2005PTC157459	AMETHYST ESTATES PRIVATE LIMITED	Director	22/11/2005	22/11/2005	-	Active	NO
17	U70100MH2005PTC157486	RIVERWOOD ESTATE PRIVATE LIMITED	Director	23/11/2005	23/11/2005	-	Active	NO
18	U70100MH2005PTC157485	OPAL ESTATES PRIVATE LIMITED	Director	23/11/2005	23/11/2005	14/01/2010	Active	YES
19	U70100MH2005PTC158395	DAISIES ESTATES PRIVATE LIMITED	Director	22/12/2005	22/12/2005	-	Active	NO
20	U45200MH2004PTC145921	SUKOON DEVELOPERS PRIVATE LIMITED	Director	18/08/2006	18/08/2006	-	Active	NO
21	U20213KA2007PLC041502	ASSOCIATE DECOR LIMITED	Director	17/01/2007	17/01/2007	-	Active	NO
22	U45102MH2006PTC158722	SAPNA CONTRACTORS AND ENGINEERS PRIVATE LIMITED	Director	03/08/2007	03/08/2007	-	Active	NO
23	U21016MH2007PTC174146	CROWN FIBRE BOARD PRIVATE LIMITED	Director	14/09/2007	14/09/2007	-	Active	NO
24	U70101MH2008PTC180576	ASSOCIATE LAND DEVELOPERS PRIVATE LIMITED	Director	28/03/2008	28/03/2008	-	Active	NO
25	U70101MH2008PTC180573	ASSOCIATE HEIGHTS ESTATE PRIVATE LIMITED	Director	28/03/2008	28/03/2008	-	Active	NO
26	U45400MH2008PTC180655	ASSOCIATE HERITAGE RESTORATION AND INFRASTRUCTURE PROJECTS PRIVATE LIMITED	Director	01/04/2008	01/04/2008	-	Active	NO
27	U02005MH2008PTC180843	FAROUK SODAGAR DARVESH AND COMPANY PRIVATE LIMITED	Director	04/04/2008	04/04/2008	-	Active	NO
28	U45400MH2008PTC181368	ASSOCIATE TOWNSHIP BUILDERS PRIVATE LIMITED	Director	21/04/2008	21/04/2008	-	Active	NO
29	U45202MH2008PTC181367	ASSOCIATE GRIH NIRMAN PRIVATE LIMITED	Director	21/04/2008	21/04/2008	-	Active	NO
30	U45200MH1994PTC080135	ASSOCIATE NIWAS DEVELOPERS PRIVATE LIMITED	Director	30/09/2010	05/02/2010	-	Active	NO
31	U45200MH1994PTC081456	SILVER VALLEY PROPERTIES PRIVATE LIMITED	Director	27/09/2010	05/02/2010	-	Active	NO
32	U45201MH2010PTC207907	FSD BUILDING MATERIALS PRIVATE LIMITED	Director	20/09/2010	20/09/2010	-	Active	NO
33	U45402MH2010PTC208925	ASSOCIATE SHIVAM REALTY PRIVATE LIMITED	Director	13/10/2010	13/10/2010	-	Active	NO
34	U70102MH2010PTC206107	VIBRANT VENTURE PRIVATE LIMITED	Additional director	25/04/2012	25/04/2012	-	Active	NO
35	U70109MH2011PTC211968	ACCESS NIWAS CONSTRUCTION PRIVATE LIMITED	Additional director	25/04/2012	25/04/2012	-	Active	NO

Name :

Mr. Srichand Satramdas Agicha

Designation :

Director

Address :

6, Perry Cross Road, Bandra, Mumbai-400050, Maharashtra, India

Date of Birth/Age :

22.02.1951

Date of Appointment :

01.04.2008

DIN No.:

00364370

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	U20101MH1986PTC039719	ASSOCIATE LUMBERS PRIVATE LIMITED	Director	01/05/1986	01/05/1986	-	Active	NO
2	U20100MH1991PTC060280	ASSOCIATE PLYWOOD INDUSTRIES PRIVATE LIMITED	Director	05/02/1991	05/02/1991	-	Active	NO
3	U45200MH1994PTC078445	PEARLQUEEN REAL ESTATE AND DEVELOPERS PRIVATE LIMITED	Director	16/06/1994	16/06/1994	-	Active	NO
4	U45200MH1994PTC079129	TOUCHWOOD REAL ESTATE PRIVATE LIMITED	Director	24/06/1994	24/06/1994	-	Active	NO
5	U65990MH1994PTC079715	ASSOCIATE HOLDINGS PRIVATE LIMITED	Director	08/08/1994	08/08/1994	-	Active	NO
6	U45200MH1994PTC080135	ASSOCIATE NIWAS DEVELOPERS PRIVATE LIMITED	Director	19/08/1994	19/08/1994	-	Active	NO
7	U45200MH1994PTC081456	SILVER VALLEY PROPERTIES PRIVATE LIMITED	Director	26/09/1994	26/09/1994	-	Active	NO
8	U45200MH1994PTC083520	PRIME CONSTRUCTIONS AND DEVELOPERS PRIVATE LIMITED	Director	06/12/1994	06/12/1994	-	Active	NO
9	U45200MH1995PTC084606	ISLAND BUILDERS AND DEVELOPERS PRIVATE LIMITED	Director	13/01/1995	13/01/1995	07/11/2008	Active	NO
10	U20100MH1998PTC117102	ISLAND WOOD WORKS PRIVATE LIMITED	Director	13/11/1998	13/11/1998	-	Active	NO
11	U26100MH1999PTC121928	ISLAND GLASS AND GLAZING PRIVATE LIMITED	Director	24/09/1999	24/09/1999	-	Active	NO
12	U01130MH1995PTC093416	ASSOCIATE PLANTATIONS PRIVATE LIMITED	Director	11/02/2005	11/02/2005	-	Active	NO
13	U45205MH2005PTC151581	ASSOCIATE EXPRESSWAY REALTY PRIVATE LIMITED	Director	24/02/2005	24/02/2005	-	Active	NO
14	U20213KA2007PLC041502	ASSOCIATE DECOR LIMITED	Director	19/02/2007	19/02/2007	-	Active	NO
15	U70200MH1989PTC052479	ASSOCIATE INFRATECH (I) PRIVATE LIMITED	Director	22/06/2007	22/06/2007	-	Active	NO
16	U45102MH2006PTC158722	SAPNA CONTRACTORS AND ENGINEERS PRIVATE LIMITED	Director	05/09/2007	05/09/2007	-	Active	NO
17	U55100GJ2004PTC045068	ASSOCIATE HIGH PRESSURE TECHNOLOGIES PRIVATE LIMITED	Director	01/04/2008	01/04/2008	-	Active	NO
18	U20212MH2008PTC180898	JAWAHAR SAW MILLS PRIVATE LIMITED	Director	07/04/2008	07/04/2008	-	Active	NO
19	U70101MH1994PTC078627	SHAMIANA CONSTRUCTIONS PRIVATE LIMITED	Director	15/12/2008	15/12/2008	-	Active	NO
20	U70102MH2010PTC206107	VIBRANT VENTURE PRIVATE LIMITED	Director	30/07/2010	30/07/2010	04/10/2010	Active	NO
21	U70102MH2010PTC200284	NINE ALPHA AGRI-PARKS AND PROPERTIES PRIVATE LIMITED	Director	29/09/2011	06/12/2010	-	Active	NO
22	U70102MH2011PTC211952	ACUTECH REALTY AND INFRA PROJECTS PRIVATE LIMITED	Director	06/01/2011	06/01/2011	-	Active	NO
23	U70102MH2011PTC211970	INTEGRATED ENCLAVE BUILDERS PRIVATE LIMITED	Director	07/01/2011	07/01/2011	-	Active	NO
24	U70109MH2011PTC211968	ACCESS NIWAS CONSTRUCTION PRIVATE LIMITED	Director	07/01/2011	07/01/2011	-	Active	NO
25	U70101MH2011PTC212070	SILVERSPARK ENCLAVE BUILDERS PRIVATE LIMITED	Director	10/01/2011	10/01/2011	-	Active	NO
26	U70102MH2011PTC213203	HIRISE TOWNSHIP AND GARDENS PRIVATE LIMITED	Director	09/02/2011	09/02/2011	-	Active	NO
27	U70102MH2011PTC213201	INNOVATIVE PROP AVENUES PRIVATE LIMITED	Director	09/02/2011	09/02/2011	-	Active	NO
28	U70102MH2011PTC213200	APEX PROPDEALS PRIVATE LIMITED	Director	09/02/2011	09/02/2011	-	Active	NO
29	U70102MH2011PTC213960	ABROTS INFRASTRUCTURE AND PARK DEVELOPMENT PRIVATE LIMITED	Director	24/02/2011	24/02/2011	-	Active	NO
30	U74999MH2011PTC215090	PRISKA HERITAGE RESTORATION PRIVATE LIMITED	Director	22/03/2011	22/03/2011	-	Active	NO
31	U74990MH2011PTC215451	BLUESCHIST CLASSICO HERITAGE RECONSTRUCTION PRIVATE LIMITED	Director	28/03/2011	28/03/2011	-	Active	NO
32	U74999MH2011PTC215450	DITTANY HOSPITALITY PRIVATE LIMITED	Director	28/03/2011	28/03/2011	-	Active	NO
33	U74900MH2011PTC215484	JONQUILLE TOURISM PRIVATE LIMITED	Director	29/03/2011	29/03/2011	-	Active	NO
34	U74900MH2011PTC215481	FORNAX TOURISM PRIVATE LIMITED	Director	29/03/2011	29/03/2011	-	Active	NO
35	U74900MH2011PTC215477	KINAVA HERITAGE RESTORATION PRIVATE LIMITED	Director	29/03/2011	29/03/2011	-	Active	NO
36	U74900MH2011PTC215646	ZARK TOURISM PRIVATE LIMITED	Director	01/04/2011	01/04/2011	-	Active	NO
37	U74120MH2011PTC215739	ENZIAN HERITAGE RESTORATION PRIVATE LIMITED	Director	05/04/2011	05/04/2011	-	Active	NO
38	U74120MH2011PTC215737	TANZY HOSPITALITY PRIVATE LIMITED	Director	05/04/2011	05/04/2011	-	Active	NO
39	U74120MH2011PTC215728	ANTHEA TOURISM PRIVATE LIMITED	Director	05/04/2011	05/04/2011	-	Active	NO
40	U74900MH2011PTC216232	PERIWINKLE HOSPITALITY PRIVATE LIMITED	Director	13/04/2011	13/04/2011	-	Active	NO
41	U74900MH2011PTC216449	PYROLITE TOURISM PRIVATE LIMITED	Director	20/04/2011	20/04/2011	-	Active	NO
42	U70101MH2008PTC180576	ASSOCIATE LAND DEVELOPERS PRIVATE LIMITED	Director	30/09/2011	30/09/2011	-	Active	NO

Name :

Mr. Ebrahim Suleman Darvesh

Designation :

Director

Address :

7, Perry Cross Road, Bandra, Mumbai-400050, Maharashtra, India

Date of Birth/Age :

01.03.1957

Date of Appointment :

01.04.2008

DIN No.:

00364630

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	U02001MH1979PTC021905	F S D TIMBERS PRIVATE LIMITED	Director	16/11/1979	16/11/1979	-	Active	NO
2	U20101MH1986PTC039719	ASSOCIATE LUMBERS PRIVATE LIMITED	Director	01/05/1986	01/05/1986	-	Active	NO
3	U70200MH1989PTC052479	ASSOCIATE INFRATECH (I) PRIVATE LIMITED	Director	06/07/1989	06/07/1989	-	Active	NO
4	U20100MH1991PTC060280	ASSOCIATE PLYWOOD INDUSTRIES PRIVATE LIMITED	Director	05/02/1991	05/02/1991	-	Active	NO
5	U70101MH1994PTC078627	SHAMIANA CONSTRUCTIONS PRIVATE LIMITED	Director	10/06/1994	10/06/1994	-	Active	NO
6	U65990MH1994PTC079715	ASSOCIATE HOLDINGS PRIVATE LIMITED	Director	08/08/1994	08/08/1994	-	Active	NO
7	U45200MH1994PTC081238	EXOTICA CONSTRUCTION AND BUILDERS PRIVATE LIMITED	Director	19/09/1994	19/09/1994	-	Active	NO
8	U45200MH1995PTC084606	ISLAND BUILDERS AND DEVELOPERS PRIVATE LIMITED	Director	03/04/1995	03/04/1995	07/11/2008	Active	NO
9	U20100MH1998PTC117102	ISLAND WOOD WORKS PRIVATE LIMITED	Director	13/11/1998	13/11/1998	-	Active	NO
10	U26100MH1999PTC121928	ISLAND GLASS AND GLAZING PRIVATE LIMITED	Director	24/09/1999	24/09/1999	-	Active	NO
11	U72900MH2000PTC129030	VIZWARE INFOTECH (INDIA) PRIVATE LIMITED	Director	06/10/2000	06/10/2000	-	Active	NO
12	U45200MH1994PTC083520	PRIME CONSTRUCTIONS AND DEVELOPERS PRIVATE LIMITED	Director	01/11/2000	01/11/2000	-	Active	NO
13	U01130MH1995PTC093416	ASSOCIATE PLANTATIONS PRIVATE LIMITED	Director	11/02/2005	11/02/2005	-	Active	NO
14	U45205MH2005PTC151581	ASSOCIATE EXPRESSWAY REALTY PRIVATE LIMITED	Director	24/02/2005	24/02/2005	-	Active	NO
15	U20213KA2007PLC041502	ASSOCIATE DECOR LIMITED	Director	17/01/2007	17/01/2007	-	Active	NO
16	U21016MH2007PTC174146	CROWN FIBRE BOARD PRIVATE LIMITED	Director	14/09/2007	14/09/2007	-	Active	NO
17	U55100GJ2004PTC045068	ASSOCIATE HIGH PRESSURE TECHNOLOGIES PRIVATE LIMITED	Director	01/04/2008	01/04/2008	-	Active	NO
18	U02005MH2008PTC180843	FAROUK SODAGAR DARVESH AND COMPANY PRIVATE LIMITED	Director	04/04/2008	04/04/2008	-	Active	NO
19	U45400MH2010PTC208782	ESD REALTY PRIVATE LIMITED	Director	08/10/2010	08/10/2010	-	Active	NO
20	U63012MH2011PTC219280	ESD COASTAL AND MARINE PRIVATE LIMITED	Director	29/06/2011	29/06/2011	-	Active	NO

Name :

Mr. Ashok Sunderdas Agicha

Designation :

Director

Address :

6, Master Vinayak Road, Bandra (West), Mumbai-400050, Maharashtra, India

Date of Birth/Age :

15.11.1954

Date of Appointment :

13.08.2005

DIN No.:

01238363

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	U20101MH1986PTC039719	ASSOCIATE LUMBERS PRIVATE LIMITED	Director	01/05/1986	01/05/1986	-	Active	NO
2	U70200MH1989PTC052479	ASSOCIATE INFRATECH (I) PRIVATE LIMITED	Director	15/07/1994	15/07/1994	-	Active	NO
3	U65990MH1994PTC079715	ASSOCIATE HOLDINGS PRIVATE LIMITED	Director	08/08/1994	08/08/1994	-	Active	NO
4	U01130MH1995PTC093416	ASSOCIATE PLANTATIONS PRIVATE LIMITED	Director	11/02/2005	11/02/2005	-	Active	NO
5	U40101MH2005PTC151501	ASSOCIATE ENERGY PRIVATE LIMITED	Director	22/02/2005	22/02/2005	-	Active	NO
6	U45205MH2005PTC151581	ASSOCIATE EXPRESSWAY REALTY PRIVATE LIMITED	Director	24/02/2005	24/02/2005	-	Active	NO
7	U55100GJ2004PTC045068	ASSOCIATE HIGH PRESSURE TECHNOLOGIES PRIVATE LIMITED	Director	13/08/2005	13/08/2005	-	Active	NO
8	U20213KA2007PLC041502	ASSOCIATE DECOR LIMITED	Director	19/02/2007	19/02/2007	-	Active	NO
9	U55101GJ2007PTC050098	A&I HOSPITALITY PRIVATE LIMITED	Director	26/02/2007	26/02/2007	31/12/2010	Active	NO
10	U20212MH2008PTC180898	JAWAHAR SAW MILLS PRIVATE LIMITED	Director	30/09/2009	03/08/2009	-	Active	NO

Name :

Mr. Satish Sunderdas Agicha

Designation :

Director

Address :

The Agicha’s, 1^st Floor, Master Vinayak Road, Bandra (West), Mumbai-400050, Maharashtra, India

Date of Birth/Age :

15.11.1954

Date of Appointment :

01.04.2008

DIN No.:

02137189

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	Company/ LLP Status	Defaulting status
1	U20100MH1991PTC060280	ASSOCIATE PLYWOOD INDUSTRIES PRIVATE LIMITED	Director	13/02/1991	13/02/1991	Active	NO
2	U55100GJ2004PTC045068	ASSOCIATE HIGH PRESSURE TECHNOLOGIES PRIVATE LIMITED	Director	01/04/2008	01/04/2008	Active	NO
3	U20212MH2008PTC180898	JAWAHAR SAW MILLS PRIVATE LIMITED	Director	08/04/2008	08/04/2008	Active	NO

Name :

Mrs. Sapna Ram Issrani

Designation :

Director

Address :

Plot No.75,, Sector 4,, Gandhidham, 370201, Gujarat, India

Date of Birth/Age :

19.10.1961

Date of Appointment :

01.12.2008

DIN No.:

02258217

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	Company/ LLP Status	Defaulting status
1	U55100GJ2004PTC045068	ASSOCIATE HIGH PRESSURE TECHNOLOGIES PRIVATE LIMITED	Director	01/12/2008	01/12/2008	Active	NO
2	U55101GJ2009PTC058827	AKHIL PALACE HOTELS PRIVATE LIMITED	Director	09/12/2009	09/12/2009	Active	NO
3	U55101GJ2007PTC050098	A&I HOSPITALITY PRIVATE LIMITED	Director	30/12/2010	30/12/2010	Active	NO
4	U45200GJ2011PTC065794	AKB SHELTERS PRIVATE LIMITED	Director	08/06/2011	08/06/2011	Active	NO
5	U24298GJ2011PTC066223	SHREEJI WELL BRINE PRIVATE LIMITED	Director	05/07/2011	05/07/2011	Active	NO

Name :

Mrs. Deepa Ramchand Issrani

Designation :

Director

Address :

Plot No.75,, Sector 4,, Gandhidham, 370201, Gujarat, India

Date of Birth/Age :

06.06.1983

Date of Appointment :

19.11.2010

DIN No.:

02897083

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 26.09.2011

Names of Shareholders	No. of Shares
Ram Kotumal Issrani	5995
Sapna Ram Issrani	164500
Associate Lumbers Private Limited, India	500
Ashok Sunderdas Agicha Jointly Held With Satish Sunderdas Agicha	467000
Srichand Satramdas Agicha Jointly Held With Chandni Srichand Agicha	200000
Chandni Srichand Agicha Jointly Held With Srichand Satramdas Agicha	300000
Srichand Satramdas Agicha - ( HUF )	234000
Satish Sunderdas Agicha ( HUF)	100000
Amritbhai Agicha Jointly Held With Ashok Sunderdas Agicha	160000
Manohar Agicha Jointly Held With Rajesh Agicha	120000
Gaurav Agicha Jointly Held With Krishika Agicha	120000
Nanda Agicha Jointly Held With Gaurav Agicha	100000
Satish Agicha Jointly Held With Sweata Agicha	100000
Rajesh Manoharlal Agicha - HUF	100000
Siddhartha Agicha Jointly Held With Srichand Agicha	200000
Gautam Agicha Jointly Held With Ashok Agicha	100000
Sakshi Agicha Jointly Held With Rajesh Agicha	60000
Manohar Agicha ( HUF )	50000
Rajesh Manoharlal Agicha Jointly Held With Sakshi Agicha	263800
Krishika Agicha Jointly Held With Gaurav Agicha	243800

AS ON 26.09.2011

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	39.16
Directors or relatives of directors	60.84
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufactures and offers the widest rage of high pressure seamless steel CNG cylinders (Type1) for various on board automobile applications like trucks, buses, cars, utility vehicles etc and CNG storage and transportation cascades.

Products :

Product Description	Item Code
Seamless Gas Cylinders	73110030

GENERAL INFORMATION

No. of Employees :

100 (Approximately)

Bankers :

Union Bank of India, 75/ 77, Sant Savta Marg, Mustafa Bazar, Byculla, Mumba-400010, Maharashtra , India

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Rupee term loans banks secured	6.774	223.087
Foreign currency loans banks secured	577.432	309.862
Working capital loans banks secured	146.828	27.500
Loans taken for vehicles secured	0.090	0.357
Total	731.124	560.806
Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Deposits related parties unsecured	0.930	0.000
Total	0.930	0.000

Banking Relations :	--
Auditors :
Name :	Hiranandani and Company Chartered Accountants
Address :	"Banke Bihari", Plot No.16, Ward 10(B) C, Gandhidham-370201, Gujarat, India
Tel. No.:	91-2836-234080/ 233732/ 237266 (Residential)
PAN No.:	AACFH2667N
Associates/Subsidiaries :	· Farouk Saudagar Darvesh and Company Private Limited · Associate Holding Private Limited · CIN No.: U65990MH1994PTC079715 · Associate Lumbers Private Limited · CIN No.: U20101MH1986PTC039719 · Sukoon Developers Private Limited

CAPITAL STRUCTURE

AS ON 26.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
25,000,000	Equity Share	Rs.10/- each	Rs. 250.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
23,836,600	Equity Share	Rs.10/- each	Rs. 238.366 Millions

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
25,000,000	Equity Share	Rs.10/- each	Rs. 250.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
22,000,000	Equity Share	Rs.10/- each	Rs. 220.000 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		220.000	186.685	174.185
2] Share Application Money		5.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		(55.453)	(43.284)	0.000
NETWORTH		169.547	143.401	174.185
LOAN FUNDS
1] Secured Loans		731.124	560.806	235.061
2] Unsecured Loans		0.930	0.000	1.800
TOTAL BORROWING		732.054	560.806	236.861
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		901.601	704.207	411.046
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		606.825	583.070	289.567
Capital work-in-progress		2.240	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	357.306	92.182	12.479
	Sundry Debtors	42.510	36.698	0.000
	Cash & Bank Balances	0.206	0.909	0.010
	Other Current Assets	6.972	14.586	23.047
	Loans & Advances	58.094	3.159	93.286
Total Current Assets		465.088	147.534	128.822
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	163.524	18.677	31.151
	Other Current Liabilities	10.268	5.904	1.117
	Provisions	0.000	3.209	2.330
Total Current Liabilities		173.792	27.790	34.598
Net Current Assets		291.296	119.744	94.224
MISCELLANEOUS EXPENSES		1.240	1.393	27.255
TOTAL		901.601	704.207	411.046

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010
	SALES
		Income		60.623
		Other Income		13.490
		TOTAL (A)	341.276	74.113
Less	EXPENSES
		Raw material consumed		65.071
		Consumable store		7.638
		Direct and manufacturing expenses		13.192
		Employees remuneration and benefits		2.029
		Administration, selling and other expenses		8.408
		Miscellaneous expenses written off		0.348
		Increase/ decrease in inventories		(39.742)
		TOTAL (B)	267.001	56.944
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		74.275	17.169
Less	FINANCIAL EXPENSES (D)		54.918	16.362
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		19.357	0.807
Less/ Add	DEPRECIATION/ AMORTISATION (F)		105.919	44.090
	PROFIT BEFORE TAX (E-F) (G)		(86.562)	(43.283)
Less	TAX (H)		0.000	0.000
	PROFIT AFTER TAX (G-H) (I)		(86.562)	(43.283)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(43.283)	0.000
	BALANCE CARRIED TO THE B/S		(129.845)	(43.283)
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	238.367	60.623
	IMPORTS
		Raw Materials		103.602
		Capital Goods		155.081
	TOTAL IMPORTS		N.A.	258.683
	Earnings Per Share (Rs.)		(2.035)	(2.319)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	(25.36)	(58.40)	N.A.
Net Profit Margin (PBT/Sales)	(%)	N.A.	(71.40)	N.A.
Return on Total Assets (PBT/Total Assets}	(%)	(8.08)	(5.92)	N.A.
Return on Investment (ROI) (PBT/Networth)		0.51	(0.30)	N.A.
Debt Equity Ratio (Total Liability/Networth)		5.34	4.10	1.56
Current Ratio (Current Asset/Current Liability)		2.68	5.31	3.72

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	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	Yes
8]	No. of employees	Yes
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last two years	Yes
12]	Profitability for last two years	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	--
22]	Litigations that the firm / promoter involved in	--
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	--
26]	Buyer visit details	--
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	PAN of Proprietor/Partner/Director, if available	No
32]	Passport No of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No

Note: The registered address of the company has been shifted from Ashirwad Complex Plot No 334, Ward 12-B, Gandhidham, Kutch, Gujarat, India to the present w.e.f.01.10.2008

PERFORMANCE

They have successfully completed the First Phase of the Manufacturing set-up in a record time of 12 months from the date of the Bank Sanction, and have successfully commenced the Commercial Operations from 1^st November, 2009. The first export consignment of 644 cylinders was flagged off on 23.11.2009. The First 5 months of the Commercial Operations, they could achieve an Export Turnover of Rs. 60.624 Millions and are confident that in the coming years, the Export Turnover shall see a sizeable increase in the volume and values with Continued Efforts being put in from each and every corner.

EXPANSION PROGRAMME/ FUTURE OUTLOOK

The Directors are quite confident that looking into the International scenario and the demand for the Seamless cylinders in the International Market, not to speak about the potential which is lying untapped to be executed in the Domestic market (after completion of the KASEZ formalities), the Directors see a great future for the Company and possibilities of reaping the benefits of the hard work put in so far by each and every member of the company. Apart from the profit potential, your Company is also contributing through this business venture in terms of Corporate Social Responsibility by providing and generating additional employment opportunities as well as in contributing as a Net Exchange Earner of the valuable Foreign Exchange for the country.

Further, The Directors have plans for expansion of the manufacturing capacities which are being worked out, and shall be intimated to all the members, as and when the plans gets finalized.

FORM 8

Corporate identity number of the company	U55100GJ2004PTC045068
Name of the company	ASSOCIATE HIGH PRESSURE TECHNOLOGIES PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Plot No. 543 TO 560 - Extended Area, Kandla Sez, Gandhidham, Gujarat - 370230, India
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10217763
Type of charge	Book debts Movable property Others (Stock)
Particular of charge holder	Union Bank of India, 75/77, Sant Savta Marg, Mustafa Bazar, Byculla, Mumbai – 400010, Maharashtra, India Email ID: cbsbyculla@unionbankofindia.com
Nature of description of the instrument creating or modifying the charge	Hypothecation agreement of goods and debts Packing credit agreement Letter of hypothecation of bills
Date of instrument Creating the charge	01/06/2011
Amount secured by the charge	250,000,000.00
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Rate of interest of commission as usual Terms of Repayment Credit facility shall be in general payable on demand and liquidating by crediting the proceeds of relative export bills. Margin 20% of PC/ PCFC (against LC and/or contracts with ECGC) 10% of Import/ inland LC Extent and Operation of the charge The charge shall operate as first and exclusive charge in favour of the bank to secure the principal amount together with interest, additional interest and all other moneys payable by the company to the bank Others The total loan amount is Rs 250.000 Millions comprising of PC/PCFC limit of Rs 250.000 Millions sub limit FDBP/ FUDBP of Rs 250.000 Millions and sub limit Import and Inland LC of Rs 250.000 Millions
Short particulars of the property charged	Hypothecation of raw material, stock in process and finished goods, book debts, documents under LC in case of DP and goods received under LC in case of LC on DA basis
Particulars of the present modification	The amount secured by the charge is enhanced from Rs 150.000 Millions to Rs 250.000 Millions

CONTINGENT LIABILITIES:

(Rs. in Millions)

Particulars	31.03.2011	31.03.2010
Estimated Amount of contracts remaining to be executed on capital account and not provided for (Net of Advances)	125.778	6.940
Letters of Credit issued by Banks on behalf of Company	Nil	58.991

(Rs. in Millions)

Particulars	31.03.2011	31.03.2010
Estimated Amount of contracts remaining to be executed on capital account and not provided for (Net of Advances)	6.940	108.383
Letters of Credit issued by Banks on behalf of Company	58.991	Nil

FIXED ASSETS:

• Factory Shed
• Plant and Machinery
• Vehicles
• Furniture and Fixtures
• Computer
• Mobile Instrument
• Office Equipment
• Broadband Modem

WEBSITE DETAILS:

PROFILE:

Subject an Associate group company, manufactures and offers the widest rage of high pressure seamless steel CNG cylinders (Type1)for various on board automobile applications like trucks, buses, cars, utility vehicles etc and CNG storage and transportation cascades.

They supply the cylinders with or without valves, and we also customize neck thread according to the clients specifications and all cylinders are epoxy-coated on the outside to offer complete environmental protection.

Their versatile range includes cylinders from diameter (OD) 200 to 406 mm with water capacities 20 litres to 200 litres with a working pressure of 200 bars.

CNG cylinder cascades are manufactured as per the specific requirement of distributing company. We manufacture various capacity for filling pressure of 250 Bar in various sizes of outside diameter 232 and 267 mm and water capacity from 30 litres To 80 litres.

CNG cylinders at subject are manufactured with state of the art manufacturing and testing facilities and comply with the highest national and international standards.

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. 55.41
UK Pound	1	Rs. 86.93
Euro	1	Rs. 68.10

INFORMATION DETAILS

Report Prepared by :

BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--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	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		27

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.