MIRA INFORM REPORT

Report Date :

19.06.2012

IDENTIFICATION DETAILS

Name :	PRAKASH CHEMICALS INTERNATIONAL PRIVATE LIMITED
Registered Office :	“Prakash House”, 39/40- Krishna Industrial Estate, Opposite BIDC Gorwa, Vadodara – 390016, Gujarat
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	21.06.2002
Com. Reg. No.:	04-40891
Capital Investment / Paid-up Capital :	Rs.3.725 Millions
CIN No.: [Company Identification No.]	U24231GJ2002PTC040891
IEC No.:	3402001152
TAN No.: [Tax Deduction & Collection Account No.]	BRDP01039D
PAN No.: [Permanent Account No.]	AACCP5395A
Legal Form :	Private Limited Liability Company
Line of Business :	Trading in General Chemicals and Consumable Products.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 330000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. Company can be considered normal for business dealings at usual trade terms and conditions.

NOTES:

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

ECGC Country Risk Classification List – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
India	A1	A1

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

LOCATIONS

Registered Office :	“Prakash House”, 39/40- Krishna Industrial Estate, Opposite BIDC Gorwa, Vadodara – 390016, Gujarat India
Tel. No.:	91-265-2774925/ 2772788 / 2773789 / 2771642/ 3926000
Fax No.:	91-265-2772992/ 3926046
E-Mail :	pcpl@prakashchemicals.com manish@prakashchemicals.com
Website :	http://www.pciplindia.com

DIRECTORS

AS ON 27.09.2011

Name :	Mr. Prakash Chunilal Shah
Designation :	Director
Address :	57, Shreenagar Society, Shri Dinesh Mill Road, Baroda – 390 020, Gujarat, India
Date of Birth/Age :	03.11.1945
Date of Appointment :	28.09.2002
DIN No.:	00382086

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	U65910GJ1994PLC021006	PRAKASH FINANCIAL SERVICES (GUJARAT) LIMITED	Director	04-01-94	04-01-94	Active	NO
2	U24231GJ1994PTC021914	PRAKASH CHEMICALS PRIVATE LIMITED	Managing director	28-02-95	28-02-95	Active	NO
3	U72200GJ2001PTC039384	PRAKASH SOFTWARE SOLUTIONS PRIVATE LIMITED	Director	03-04-01	03-04-01	Active	NO
4	U51496GJ2002PTC041095	PRAKASH CHEMICALS AGENCIES PRIVATE LIMITED	Director	09-08-02	09-08-02	Active	NO
5	U24231GJ2002PTC040891	PRAKASH CHEMICALS INTERNATIONAL PRIVATE LIMITED	Director	28-09-02	28-09-02	Active	NO
6	U64200GJ2005PTC045741	PRAKASH TELESERVICES PRIVATE LIMITED	Director	21-03-05	21-03-05	Active	NO
7	U85110GJ2012NPL068724	PRAKASH COMMUNITY CENTRE	Director	23-01-12	23-01-12	Active	NO

Name :	Mr. Dilip Kumarpal Shah
Designation :	Director
Address :	15, Urmi Society, Baroda Productivity Road, Baroda – 390 020, Gujarat, India
Date of Birth/Age :	21.09.1956
Date of Appointment :	21.06.2002
DIN No.:	00308782

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	U65910GJ1994PLC021006	PRAKASH FINANCIAL SERVICES (GUJARAT) LIMITED	Director	04-01-94	04-01-94	Active	NO
2	U24231GJ1994PTC021914	PRAKASH CHEMICALS PRIVATE LIMITED	Director	28-02-95	28-02-95	Active	NO
3	U72200GJ2001PTC039384	PRAKASH SOFTWARE SOLUTIONS PRIVATE LIMITED	Director	03-04-01	03-04-01	Active	NO
4	U24231GJ2002PTC040891	PRAKASH CHEMICALS INTERNATIONAL PRIVATE LIMITED	Director	21-06-02	21-06-02	Active	NO
5	U51496GJ2002PTC041095	PRAKASH CHEMICALS AGENCIES PRIVATE LIMITED	Managing director	09-08-02	09-08-02	Active	NO
6	U64200GJ2005PTC045741	PRAKASH TELESERVICES PRIVATE LIMITED	Director	21-03-05	21-03-05	Active	NO
7	U92412GJ2009NPL058550	VADODARA MARATHON	Director	12-11-09	12-11-09	Active	NO
8	U85110GJ2012NPL068724	PRAKASH COMMUNITY CENTRE	Director	23-01-12	23-01-12	Active	NO

Name :	Mr. Hitesh Chandrakant Shah
Designation :	Director
Address :	1, Bhagyalaxmi Society, Neat Akota Garden, Baroda, Gujarat, India
Date of Birth/Age :	17.07.1958
Date of Appointment :	28.09.2002
DIN No.:	00315534

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	U65910GJ1994PLC021006	PRAKASH FINANCIAL SERVICES (GUJARAT) LIMITED	Director	04-01-94	04-01-94	Active	NO
2	U24231GJ1994PTC021914	PRAKASH CHEMICALS PRIVATE LIMITED	Managing director	28-02-95	28-02-95	Active	NO
3	U24231GJ2002PTC040891	PRAKASH CHEMICALS INTERNATIONAL PRIVATE LIMITED	Director	28-09-02	28-09-02	Active	NO
4	U51496GJ2002PTC041095	PRAKASH CHEMICALS AGENCIES PRIVATE LIMITED	Director	28-09-02	28-09-02	Active	NO
5	U64200GJ2005PTC045741	PRAKASH TELESERVICES PRIVATE LIMITED	Director	21-03-05	21-03-05	Active	NO
6	U72200GJ2001PTC039384	PRAKASH SOFTWARE SOLUTIONS PRIVATE LIMITED	Director	10-03-07	10-03-07	Active	NO

Name :	Mr. Atul Chandrakant Shah
Designation :	Director
Address :	21, Charotar Society, Old Padra Road, Baroda – 390020, Gujarat, India
Date of Birth/Age :	10.11.1959
Date of Appointment :	28.09.2002
DIN No.:	00411580

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	U65910GJ1994PLC021006	PRAKASH FINANCIAL SERVICES (GUJARAT) LIMITED	Director	04-01-94	04-01-94	Active	NO
2	U24231GJ1994PTC021914	PRAKASH CHEMICALS PRIVATE LIMITED	Managing director	28-02-95	28-02-95	Active	NO
3	U72200GJ2001PTC039384	PRAKASH SOFTWARE SOLUTIONS PRIVATE LIMITED	Director	03-04-01	03-04-01	Active	NO
4	U24231GJ2002PTC040891	PRAKASH CHEMICALS INTERNATIONAL PRIVATE LIMITED	Director	28-09-02	28-09-02	Active	NO
5	U51496GJ2002PTC041095	PRAKASH CHEMICALS AGENCIES PRIVATE LIMITED	Director	28-09-02	28-09-02	Active	NO
6	U64200GJ2005PTC045741	PRAKASH TELESERVICES PRIVATE LIMITED	Director	21-03-05	21-03-05	Active	NO

Name :	Mr. Pinakin Kumarbhai Shah
Designation :	Director
Address :	7, Nandanvan Colony, Near Akota Stadium, Baroda – 390 020, Gujarat, India
Date of Birth/Age :	18.09.1961
Date of Appointment :	28.09.2002
DIN No.:	00411629

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	U65910GJ1994PLC021006	PRAKASH FINANCIAL SERVICES (GUJARAT) LIMITED	Director	04-01-94	04-01-94	Active	NO
2	U24231GJ1994PTC021914	PRAKASH CHEMICALS PRIVATE LIMITED	Director	28-02-95	28-02-95	Active	NO
3	U72200GJ2001PTC039384	PRAKASH SOFTWARE SOLUTIONS PRIVATE LIMITED	Director	03-04-01	03-04-01	Active	NO
4	U24231GJ2002PTC040891	PRAKASH CHEMICALS INTERNATIONAL PRIVATE LIMITED	Director	28-09-02	28-09-02	Active	NO
5	U51496GJ2002PTC041095	PRAKASH CHEMICALS AGENCIES PRIVATE LIMITED	Director	28-09-02	28-09-02	Active	NO
6	U64200GJ2005PTC045741	PRAKASH TELESERVICES PRIVATE LIMITED	Managing director	21-03-05	21-03-05	Active	NO

Name :	Mr. Manish Kumarpal Shah
Designation :	Director
Address :	3, Spring Valley, Productivity Road, Baroda – 390 020, Gujarat, India
Date of Birth/Age :	13.12.1968
Date of Appointment :	21.06.2002
DIN No.:	00315521

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	U65910GJ1994PLC021006	PRAKASH FINANCIAL SERVICES (GUJARAT) LIMITED	Director	04-01-94	04-01-94	Active	NO
2	U24231GJ1994PTC021914	PRAKASH CHEMICALS PRIVATE LIMITED	Director	28-02-95	28-02-95	Active	NO
3	U72200GJ2001PTC039384	PRAKASH SOFTWARE SOLUTIONS PRIVATE LIMITED	Director	03-04-01	03-04-01	Active	NO
4	U24231GJ2002PTC040891	PRAKASH CHEMICALS INTERNATIONAL PRIVATE LIMITED	Managing director	21-06-02	21-06-02	Active	NO
5	U51496GJ2002PTC041095	PRAKASH CHEMICALS AGENCIES PRIVATE LIMITED	Director	09-08-02	09-08-02	Active	NO
6	U64200GJ2005PTC045741	PRAKASH TELESERVICES PRIVATE LIMITED	Director	21-03-05	21-03-05	Active	NO

Name :	Mr. Chirag Prakash Shah
Designation :	Director
Address :	57, Shreenagar Society, Shri Dinesh Mill Road, Baroda – 390 020, Gujarat, India
Date of Birth/Age :	12.10.1973
Date of Appointment :	28.09.2002
DIN No.:	00308856

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	U65910GJ1994PLC021006	PRAKASH FINANCIAL SERVICES (GUJARAT) LIMITED	Director	04-01-94	04-01-94	Active	NO
2	U24231GJ1994PTC021914	PRAKASH CHEMICALS PRIVATE LIMITED	Managing director	28-02-95	28-02-95	Active	NO
3	U72200GJ2001PTC039384	PRAKASH SOFTWARE SOLUTIONS PRIVATE LIMITED	Director	03-04-01	03-04-01	Active	NO
4	U24231GJ2002PTC040891	PRAKASH CHEMICALS INTERNATIONAL PRIVATE LIMITED	Director	28-09-02	28-09-02	Active	NO
5	U51496GJ2002PTC041095	PRAKASH CHEMICALS AGENCIES PRIVATE LIMITED	Director	28-09-02	28-09-02	Active	NO
6	U64200GJ2005PTC045741	PRAKASH TELESERVICES PRIVATE LIMITED	Director	21-03-05	21-03-05	Active	NO

Name :	Mr. Hardik Suryakant Shah
Designation :	Director
Address :	5, Sriniketan Society, Jetalpur Road, Baroda – 390 005, Gujarat, India
Date of Birth/Age :	02.03.1977
Date of Appointment :	28.09.2002
DIN No.:	00315509

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	U65910GJ1994PLC021006	PRAKASH FINANCIAL SERVICES (GUJARAT) LIMITED	Director	04-01-94	04-01-94	Active	NO
2	U24231GJ1994PTC021914	PRAKASH CHEMICALS PRIVATE LIMITED	Director	10-02-96	10-02-96	Active	NO
3	U72200GJ2001PTC039384	PRAKASH SOFTWARE SOLUTIONS PRIVATE LIMITED	Managing director	03-04-01	03-04-01	Active	NO
4	U24231GJ2002PTC040891	PRAKASH CHEMICALS INTERNATIONAL PRIVATE LIMITED	Director	28-09-02	28-09-02	Active	NO
5	U51496GJ2002PTC041095	PRAKASH CHEMICALS AGENCIES PRIVATE LIMITED	Director	28-09-02	28-09-02	Active	NO
6	U64200GJ2005PTC045741	PRAKASH TELESERVICES PRIVATE LIMITED	Director	21-03-05	21-03-05	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 27.09.2011

Names of Shareholders	No. of Shares
Prakash Chemicals Private Limited, India	10000
Manish Shah	14063
Dilip K. Shah	14063
Prakash C. Shah	14062
Hitesh C. Shah	14062
Atul C. Shah	14062
Pinakin K. Shah	14062
Chirag P. Shah	14062
Hardik S. Shah	14066
Prakash Chemicals Agencies Private Limited, India	250000
Total	372502

AS ON 27.09.2011

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	69.80
Directors or relatives of directors	30.20
Total	100.00

BUSINESS DETAILS

Line of Business :

Trading in General Chemicals and Consumable Products.

Products :

· Industrial Chemicals

· Dyestuff Intermediates

· Fertilizers and Agro Chemicals

· Minerals

· Paint and Ink Additives

· Specialty Chemicals

· Water Treatment Chemicals

· Agricultural Commodities

· Pharmaceutical Ingredients

Item Code No. (ITC Code)	281511.01
Product Description	Caustic Soda Flakes
Item Code No. (ITC Code)	280610.00
Product Description	Hydrochloric Acid
Item Code No. (ITC Code)	280110.00
Product Description	Chlorine

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Bank of Baroda, IBB Branch, Sayajiganj, Vadodara – 390 005, Gujarat, India

· ICICI Bank Limited

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Rupee Term Loans Banks Secured (Secured against mortgage of Building at Gorwa) Installments due during next 12 months Rs. 2.220 Millions)	19.120	0.000
Foreign Currency Loans Banks Secured Packing Credit in Foreign currency (PCFC) (Secured against stock, Book Debts, Personal Guarantee of directors and Equitable mortgage of shop at Parshwa complex, A/1-2 and Plot No.3 of Shraddha Building on the name of directors relative)	49.405	0.000
Working Capital Loans Banks Secured	125.733	119.184
Total	194.258	119.184
Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Loans Directors Unsecured	1.554	1.661
Other Debt Unsecured	0.000	2.306
Total	1.554	3.967

Banking Relations :	--
Auditors :
Name :	C.R. Sharedalal and Company Chartered Accountants
Address :	101-102, First Floor, Parishram 5 B, Rashmi Society, Mithakhali Six Road, Navarangpura, Ahmedabad – 380 009, Gujarat, India
Tel. No.:	91-79-26446560
Fax No.:	91-79-26449570
PAN No.:	AAAFC6902F
E-Mail:	jcs@crsharedalalco.com
Holding Company :	Prakash Chemicals Agencies Private Limited CIN No.: U51496GJ2002PTC041095
Subsidiaries Company :	Shah International FZE (Dubai) 217/2, Twin Towers, PO Box. 42198, Deira, Dubai Tele : 97-14-2239 765 / 2239 207 Fax : 97-14-2280 482 E-mail : chemicals@shahinternationalfze.com
Group Company :	· Prakash Chemicals Agencies Private Limited (PCAPL) · Prakash Chemicals Private Limited (PCPL) · Prakash Software Solutions Private Limited (PSPL) · Prakash Tele-Services Private Limited (PTSPL) · Prakash Financial Services (Gujarat) Limited · Prakash Gas Company (PGC) · Prakash Herbal

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Share	Rs.10/- each	Rs.5.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
372502	Equity Share	Rs.10/- each	Rs.3.725 Millions

NOTE:

250000 Equity Shares are held by Prakash Chemicals Agencies private limited, the holding company.

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		3.725	3.725	3.725
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		78.391	54.475	34.371
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		82.116	58.200	38.096
LOAN FUNDS
1] Secured Loans		194.258	119.184	76.582
2] Unsecured Loans		1.554	3.967	0.598
TOTAL BORROWING		195.812	123.151	77.180
DEFERRED TAX LIABILITIES		7.654	1.882	0.383
TOTAL		285.582	183.233	115.659
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		17.949	15.086	6.182
Capital work-in-progress		19.997	6.291	0.000
INVESTMENT		6.617	5.497	1.302
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	65.205	22.741	25.357
	Sundry Debtors	246.213	145.524	106.145
	Cash & Bank Balances	18.472	39.586	35.942
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	60.696	63.477	38.046
Total Current Assets		390.586	271.328	205.490
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	101.901	64.094	70.542
	Other Current Liabilities	45.217	22.902	8.003
	Provisions	17.050	27.973	18.770
Total Current Liabilities		164.168	114.969	97.315
Net Current Assets		226.418	156.359	108.175
MISCELLANEOUS EXPENSES		14.601	0.000	0.000
TOTAL		285.582	183.233	115.659

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	1188.156	901.394	582.275
		Other Income			27.090
		TOTAL (A)	1188.156	901.394	609.365
Less	EXPENSES
		Cost of Goods Sold			437.738
		Administrative and Other Expenses			133.142
		Directors’ Remuneration			0.960
		TOTAL (B)	1148.329 (Including Financial Expenses)	869.237 (Including Financial Expenses)	571.840
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)				37.525
Less	FINANCIAL EXPENSES (D)				3.744
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		39.827	32.157	33.781
Less/ Add	DEPRECIATION/ AMORTISATION (F)		2.289	1.352	0.650
	PROFIT BEFORE TAX (E-F) (G)		37.538	30.805	33.131
Less	TAX (H)		13.622	10.700	11.983
	PROFIT AFTER TAX (G-H) (I)		23.916	20.105	21.148
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	948.070	766.685	517.001
		Other Earnings	0.365	0.105	0.103
	TOTAL EARNINGS		948.435	766.790	517.104
	Earnings Per Share (Rs.)		64.20	53.97	56.77

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	2.01	2.23	3.47
Net Profit Margin (PBT/Sales)	(%)	NA	NA	5.69
Return on Total Assets (PBT/Total Assets}	(%)	9.19	10.76	15.65
Return on Investment (ROI) (PBT/Networth)		0.46	0.53	0.87
Debt Equity Ratio (Total Liability/Networth)		4.38	4.09	4.58
Current Ratio (Current Asset/Current Liability)		2.38	2.36	2.11

LOCAL AGENCY FURTHER INFORMATION

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	No
5) Type of Business	Yes
6) Line of Business•	Yes
7) Promoter’s background	Yes
8) No. of employees	No
9) Name of person contacted	No
10) Designation of contact person	No
11) Turnover of firm for last three years	Yes
12) Profitability for last three 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	--
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

PURCHASE DETAILS:

	31.03.2011	31.03.2010	31.03.2009
Particulars	Chemicals (Export)
Unit	M.T.	M.T.	M.T.
Qty.	41,602.98	28,616.47	16,030.27
Value (Rs. In Millions)	950.586	696.994	443.525

NOTE:

The Registered Office of the company has been shifted from Induchacha House, Opposite Chhani Octroi Naka, Baroda – 390002, Gujarat, India, to the present address w.e.f. 01.06.2011.

CONTINGENT LIABILITIES

· Bills discounted - 49,404,983 (Nil)

· Bank of Baroda has issued Letter of Credit of Rs. 21.374 Millions (P.Y. 13.282 Millions) against the margin money (Fixed Deposit) of Rs. 13.448 Millions (P.Y. 4.530 Millions)

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U24231GJ2002PTC040891
Name of the company	PRAKASH CHEMICALS INTERNATIONAL PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	“Prakash House”, 39/40- Krishna Industrial Estate, Opposite BIDC Gorwa, Vadodara – 390016, Gujarat, India pcpl@prakashchemicals.com
This form is for	Modification of charge
Charge identification number of the modified	80010075
Type of charge	Immovable Property
Particular of charge holder	Bank of Baroda, IBB Branch, Sayajiganj, Vadodara – 390005, Gujarat, India E-Mail: ovebar@bankofbaroda.com
Nature of description of the instrument creating or modifying the charge	Deed of Mortgage
Date of instrument Creating the charge	14.10.2011
Amount secured by the charge	Rs.292.000 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest: 5.50% above base rate with monthly rest on Term Loan 1.25% above base rate with monthly rest on Packing Credit 1.25% above base rate with monthly rest on FBP/FBD Terms of Repayment: For Term Loan: 59 equal monthly installments For PC/PCFC/FBP/FBD: 180 days usance Margin: For Term Loan: Land:100%, Construction: 30%, Furniture and Fixtures: 31.27% For PC: 10% on FOB Value For Inland/LC: 10% Cash Margin by way of FDR For Derivative Transaction: 5% in Cash / FDR on Forward Contract Extent and Operation of the charge: First Charge on the Immovable Properties of the Company
Short particulars of the property charged	Immovable property situated at Registration District and sub District Vadodara, Mouje Gorwa, R.S No.992/2, 993/2/B, 998/1 and 998/2, paiki Plot No. C40 admeasuring 972 sq. mtrs.
Date of instrument modifying the charge	17.08.2011
Particulars of the present modification	The existing Charge of Rs. 292.000 Millions has remained same. The Charge has been modified to secure the repayment of finance facilities by providing additional securities of immovable properties belonging to the Company.

FIXED ASSETS:

· Office Equipments

· Computers

· Computers Software

· Furniture and Fixtures

· LCH Gas Cylinder

· Motor Car

· Air Conditioners

· Land

· Plant and Machinery

WEBSITE DETAILS

PROFILE:

Subject is a part of the Prakash Group, a conglomerate with 60 years of rich experience in the distribution of Industrial Chemicals, Software, Stationary, Telecommunications and other products.

It is a leading exponent for soap and detergent raw material, paint and coating chemicals, flavour and fragrance chemicals, plastic additives, cosmetics ingredients, food and beverage chemicals, water treatment chemicals and many other significant industries. Its people, processes, systems, distribution networks, contract manufacturing sites and strategic relationships with raw material producers focus on satisfying the need; ensuring that every order is on time, accurate and complete.

Subject combines its excellence in technical knowledge of applications with indigenous presence in various counties; facilitating a deep understanding of the differing business practices and cultures throughout the world. The centralised coordination of IT, ERP system and logistics ensure efficient and cost effective provision of ‘back room’ functions; enabling company to meet the highest of standards and consistently apply them throughout its functions.

MILESTONE

• 1993

Merit award

• 1999

Merit award for activity in Industrial Gases

• 2001

First award from CHEMEXCIL for our export performance

• 2003

First trading company with ISO 9001:2000 certification in India

• 2003-2004

Second award in the category of merchant export from CHEMEXCIL for the best performance in the year 2003-2004

• 2004

First to implement ERP system in trading business in India

• 2004-2005

Gold award in the category of merchant export from CHEMEXCIL for the best performance in the year 2004-2005

• 2006-2007

First award in the category of merchant export from CHEMEXCIL for the best performance in the year 2006-2007

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.55.60
UK Pound	1	Rs.87.34
Euro	1	Rs.70.66

INFORMATION DETAILS

Report Prepared by :

BSN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		45

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.