1. Summary Information

		Country	India
Company Name	Hamilton Housewares Private Limited	Principal Name 1	Mr. Ajay Dinesh Vaghani
Status	Satisfactory	Principal Name 2	Ms. Manisha Ajay Vaghani
		Registration #	000180
Street Address	Plot No.49/ 50, Danudyog Industrial Estate, Amli, Piparia, Silvassa – 396 230, Dadra Nagar Haveli, India
Established Date	26.06.2000	SIC Code	--
Telephone#	91-260-2669346/ 2669347	Business Style 1	Manufacturer
Fax #	91-260-2669347	Business Style 2	--
Homepage	http://www.hamiltonindia.in	Product Name 1	House Ware Products
# of employees	100 (Approximately)	Product Name 2	--
Paid up capital	Rs.113,600,000/-	Product Name 3	--
Shareholders	Foreign holdings- 4.92%, Bodies corporate- 30.48%, Directors or relatives of directors- 64.60%	Banking	HDFC Bank Limited
Public Limited Corp.	No	Business Period	12 years
IPO	No	International Ins.	--
Public Enterprise	No	Rating	Ba (48)
Related Company
Relation	Country	Company Name	CEO
Subsidiary Company	India	Hamilton Writing Instruments Private Limited	--
Note	--

2. Summary Financial Statement

Balance Sheet as of	31.03.2011		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	791,044,000	Current Liabilities	587,746,000
Inventories	694,899,000	Long-term Liabilities	923,747,000
Fixed Assets	784,477,000	Other Liabilities	45,053,000
Deferred Assets	0,000	Total Liabilities	1,556,546,000
Invest& other Assets	126,438,000	Retained Earnings	726,712,000
		Net Worth	840,312,000
Total Assets	2,396,858,000	Total Liab. & Equity	2,396,858,000
Total Assets (Previous Year)	1,653,306,000
P/L Statement as of	31.03.2011		(Unit: Indian Rs.)
Sales	3,116,500,000	Net Profit	208,800,000
Sales(Previous yr)	2,313,000,000	Net Profit(Prev.yr)	144,200,000

MIRA INFORM REPORT

Report Date :

22.05.2012

IDENTIFICATION DETAILS

Name :	HAMILTON HOUSEWARES PRIVATE LIMITED
Registered Office :	Plot No.49/ 50, Danudyog Industrial Estate, Amli, Piparia, Silvassa – 396 230, Dadra Nagar Haveli
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	26.06.2000
Com. Reg. No.:	000180
Capital Investment / Paid-up Capital :	Rs.113.600 millions
CIN No.: [Company Identification No.]	U26101DN2000PTC000180
TAN No.: [Tax Deduction & Collection Account No.]	SRTH00992F
PAN No.: [Permanent Account No.]	AABCD1683Q
Legal Form :	Private Limited Liability Company.
Line of Business :	Manufacturer of House Ware Products
No. of Employees :	100 (Approximately)

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 3400000
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. The 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 :	Plot No.49/ 50, Danudyog Industrial Estate, Amli, Piparia, Silvassa – 396 230, Dadra Nagar Haveli, India
Tel. No.:	91-260-2669346/ 2669347
Fax No.:	91-260-2669347
E-Mail :	ajayr@hamiltonindia.in dipankar.rai@hamiltonindia.in cpm@hamiltonindia.in
Website :	http://www.hamiltonindia.in
Area :	10000 Sq.ft. (Approximately)
Location :	Owned
Head Office 1 :	Kaiser-I-Hind Building, 3^rd Floor, Currimbhoy Road, Ballard Estate, Mumbai - 400 001, Maharashtra, India
Tel. No.:	91-22-22624444/ 22611162
Fax No.:	91-22-22679568/ 22616428
E-Mail :	info@hamiltonindia.in info@milton.co.in
Head Office 2 :	Arian Building, 4^th Floor, R. Kamani Marg, Ballard Estate, Mumbai – 400 001, Maharashtra, India
Tel. No.:	91-22-61294100
Fax No.:	91-22-22620967
Factory :	Survey No. 288/1, Near Dadra Aram, Panchayat, Dadra DEmni Road, Silvassa-396230, Dadra and Nagar Haiel
Tel. No.:	91-260-2669946
Fax No.:	91-260-2669332
North Centre : Delhi	7J, Gopala Tower, 25, Rajendra Place, Delhi - 110 008, India
Tel. No.:	91-11-25862922/ 23
E-Mail :	anum@hamiltonindia.in
East Centre: Kolkata	4, Chowringhee Lane, Block IV, Unit - 8 B, 8^th Floor, Diamond Chamber, Kolkata – 700 016, West Bengal, India
Tel. No.:	91-33-22521852/ 53
E-Mail :	kolkata@hamiltonindia.in
South Centre: Hyderabad	Swamy Sons (Agency) Private Limited, Plot No. B-3. Uppal Industries Area, Uppal, Hyderabad – 500 039, Karnataka, India
Tel. No.:	91-40-23449365/ 27033038/ 8476
E-Mail :	info@hamiltonindia.in

DIRECTORS

(AS ON 28.09.2011)

Name :

Mr. Ajay Dinesh Vaghani

Designation :

Managing Director

Address :

203, Panorama, Third Floor, Walkeshwar, Mumbai - 400 006, Maharashtra, India

Date of Birth/Age :

08.08.1966

Experience :

20 years

Date of Appointment :

26.06.2000

DIN No.:

00186764

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U70100MH1989PTC050783	VASANTSEN PROPERTIES PRIVATE LIMITED	Director	8/3/1989	8/3/1989	30/10/2009	Active	YES
2	U51900MH1989PTC052741	MILTON EXPORTS PRIVATE LIMITED	Director	26/07/1989	26/07/1989	-	Active	NO
3	U51900MH1994PTC080383	EUROLINE DOMESTIC APPLIANCES PRIVATE LIMITED	Director	30/09/1995	30/09/1995	-	Active	NO
4	U25206MH1998PTC116295	TAO PLASTICS PRIVATE LIMITED	Director	20/08/1998	20/08/1998	-	Active	NO
5	U26101DN2000PTC000180	HAMILTON HOUSEWARES PRIVATE LIMITED	Managing director	26/06/2000	26/06/2000	-	Active	NO
6	U99999MH2000PLC126835	MILTON GLOBAL LIMITED	Director	1/4/2002	1/4/2002	-	Active	NO
7	U74130MH2005PTC157829	HAMILTON WRITING INSTRUMENTS PRIVATE LIMITED.	Director	6/12/2005	6/12/2005	-	Active	NO
8	U17100MH1972PTC015894	RUPANI SPINNING MILLS PRIVATE LIMITED	Director	4/5/2006	4/5/2006	-	Active	NO
9	U67120MH1992PTC067448	D J HOLDINGS PRIVATE LIMITED	Director	22/11/2006	22/11/2006	-	Active	NO
10	U67190MH1994PTC080557	HAMILTON CONSULTANTS PRIVATE LIMITED	Director	2/7/2007	2/7/2007	-	Active	NO
11	U70102MH2008PTC179586	ANANYA REALTY PRIVATE LIMITED	Director	29/02/2008	29/02/2008	-	Active	NO
12	U70109MH2008PTC182921	ANNANDITA REALTY PRIVATE LIMITED	Director	30/05/2008	30/05/2008	-	Active	NO
13	U74999DL2005PTC135966	ADROIT BUSINESS SOLUTIONS (INDIA) PRIVATE LIMITED	Director	9/8/2011	6/4/2011	-	Active	NO
14	U74140MH1997NPL111167	YOUNG PRESIDENTS ORGANIZATION (MUMBAI CHAPTER)	Director	1/7/2011	1/7/2011	-	Active	NO

Name :

Ms. Manisha Ajay Vaghani

Designation :

Director

Address :

203, Panorama, Third Floor, Walkeshwar, Mumbai - 400 006, Maharashtra, India

Date of Birth/Age :

19.04.1967

Date of Appointment :

26.06.2000

DIN No.:

00202603

Other Directorship :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U26101DN2000PTC000180	HAMILTON HOUSEWARES PRIVATE LIMITED	Director	26/06/2000	26/06/2000	Active	NO
2	U25206MH1998PTC116295	TAO PLASTICS PRIVATE LIMITED	Director	1/10/2000	1/10/2000	Active	NO
3	U99999MH2000PLC126835	MILTON GLOBAL LIMITED	Director	21/04/2003	21/04/2003	Active	NO
4	U74130MH2005PTC157829	HAMILTON WRITING INSTRUMENTS PRIVATE LIMITED.	Director	6/12/2005	6/12/2005	Active	NO
5	U70102MH2008PTC179586	ANANYA REALTY PRIVATE LIMITED	Director	29/02/2008	29/02/2008	Active	NO
6	U70109MH2008PTC182921	ANNANDITA REALTY PRIVATE LIMITED	Director	30/05/2008	30/05/2008	Active	NO
7	U74999DL2005PTC135966	ADROIT BUSINESS SOLUTIONS (INDIA) PRIVATE LIMITED	Director	9/8/2011	6/4/2011	Active	NO

Name :

Mr. Walter Teotonia Vieira

Designation :

Director

Address :

541, Prisca Villa, 11^th Road, Chembur, Mumbai - 400 071, Maharashtra, India

Date of Birth/Age :

12.12.1938

Date of Appointment :

13.06.2005

Name :

Ms. Jyoti Dinesh Vaghani

Designation :

Director

Address :

203, Panorama, Third Floor, Walkeshwar, Mumbai - 400 006, Maharashtra, India

Date of Birth/Age :

06.06.1947

Date of Appointment :

01.10.2006

DIN No.:

02179495

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 28.09.2011)

Names of Shareholders	No. of Shares	Percentage
Ajay Dinesh Vaghani	3428032	30.18
Ajay D Vaghani (HUF)	2118500	18.65
Hamilton Consultants Private Limited, India	3422916	30.13
Indira B. Vaghani	208300	1.83
Jyoti D. Vaghani	208300	1.83
Manisha A. Vaghani	1375500	12.11
Mahendra Ghelani	2	0.00
Rasik Thakkar	198450	1.75
Stead Fast Holdings Private Limited, India	40000	0.35
United International General Trading FZE, UAE	360000	3.17
Total	11360000	100.00

(AS ON 30.09.2011)

Equity Shares Break – up

Category	Percentage
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	4.92
Bodies corporate	30.48
Directors or relatives of directors	64.60
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of House Ware Products

Products :

Products Description	Item Code No.
Vacuum Refills	70120000
Houseware Products	39241010

· Water Bottles (Insulated)

· Water Jugs

· Water Filters

· Ice Packs and Ice Pails

· Casseroles

· Tiffins

· Vacuum Flasks

· Household products

· Water Bottles (Non Insulated)

· Softline Products

· Thermosteel

· Melamine Products

· Tea Sets and Carafes

· Bake n Serve

· Party Perfect Ceramic Wares

· Tumblers

· Bowls and Pudding Sets

· Snack Sets and Dinner Sets

· Lemon Sets

· Storage Jars

· Gift Sets

· Decorative

· Opalware, etc.

Brand Names :

· MILTON

· TREO

· CLARO

· HAMILTON

PRODUCTION STATUS (AS ON 31.03.2011)

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Vacuum Refills	Pcs.	NA	NA	334368
Thermoware/ Household	Tonnes	NA	NA	5065

GENERAL INFORMATION

No. of Employees :

100 (Approximately)

Bankers :

· HDFC Bank Limited

HDFC Bank House Senapti Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India

Facilities :

Secured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Rupee Term Loans Banks Secured	266.464	147.460
Working Capital Loans Banks Secured	451.404	259.396
Loans Taken for Vehicles Secured	2.938	0.075
Total	720.806	406.931
NOTE: · Term Loans and Working Capital Loans are secured by hypothecation of Stocks and Books Debts and further collaterally secured by way of equitable mortgage of all immovable properties of the company and personal guarantees of two directors. · Term Loans and Working Capital Loans are secured by hypothecation of Stocks and Books Debts and further collaterally secured by way of equitable mortgage of all immovable properties of the company and personal guarantees of two directors. · Vehicle loans are secured by hypothecation of respective vehicles
Unsecured Loans	31.03.2011	31.03.2010
	(Rs. In Millions)
Loans directors unsecured	15.630	8.681
Other debt unsecured	187.311	106.172
Total	202.941	114.853

Banking Relations :	--
Financial Institution :	· SBICAP Trustee Company Limited 202, Maker Tower, ‘E’ Cuffe Parade, Colaba, Mumbai - 400005, Maharashtra, India
Auditors :
Name :	Mehta Chokshi and Shah Chartered Accountants
Address :	A-101, Aadeshwar, S. V. P. Road, Borivali (West), Mumbai – 400092, Maharashtra, India
Tel No.:	91-22-28930501
Fax No.:	91-22-28930503
Email :	camcs@vsnl.com
PAN No.:	AAAFM5817F
Subsidiary Company :	· Hamilton Writing Instruments Private Limited CIN No.: U74130MH2005PTC157829 Address : Plot No.49/ 50, Danudyog Industrial Estate, Amli, Piparia, Silvassa – 396 230, Dadra Nagar Haveli, India Line of Business: Manufacturer of House ware Products.

CAPITAL STRUCTURE

(AS ON 28.09.2011)

Authorised Capital :

No. of Shares	Type	Value	Amount
12000000	Equity Shares	Rs.10/- each	Rs.120.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
11360000	Equity Shares	Rs.10/- each	Rs.113.600 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		113.600	113.600	113.600
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		726.712	538.999	408.393
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		840.312	652.599	521.993
LOAN FUNDS
1] Secured Loans		720.806	406.931	146.380
2] Unsecured Loans		202.941	114.853	100.692
TOTAL BORROWING		923.747	521.784	247.072
DEFERRED TAX LIABILITIES		23.928	15.328	18.496
TOTAL		1787.987	1189.711	787.561
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		784.477	562.092	319.980
Capital work-in-progress		32.734	37.882	73.020
INVESTMENT		93.704	93.704	23.504
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	694.899	293.639	299.864
	Sundry Debtors	622.805	429.204	408.089
	Cash & Bank Balances	42.402	117.941	37.914
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	125.837	118.434	72.704
Total Current Assets		1485.943	959.218	818.571
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor	473.805	330.034	384.800
	Other Current Liabilities	113.941	117.003	63.885
	Provisions	21.125	16.558	13.290
Total Current Liabilities		608.871	463.595	461.975
Net Current Assets		877.072	495.623	356.596
MISCELLANEOUS EXPENSES		0.000	0.410	14.461
TOTAL		1787.987	1189.711	787.561

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	3116.500	2313.000	2145.700
		Other Income	NA	NA	NA
		TOTAL (A)	NA	NA	NA
Less	EXPENSES
		TOTAL (B)	NA	NA	NA
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		427.600	267.700	207.600
Less	FINANCIAL EXPENSES (D)		91.100	58.700	47.300
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		336.500	209.000	160.300
Less/ Add	DEPRECIATION/ AMORTISATION (F)		64.600	38.900	23.900
	PROFIT BEFORE TAX (E-F) (G)		271.900	170.100	136.400
Less	TAX (H)		62.200	25.900	15.700
	PROFIT AFTER TAX (G-H) (I)		208.800	144.200	120.700
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	271.057	328.320	277.717
	TOTAL EARNINGS		271.057	328.320	277.717
	IMPORTS
		Raw Materials/ Trading Goods	864.815	415.247	NA
		Capital Goods	64.744	40.386	NA
	TOTAL IMPORTS		929.559	455.633	NA
	Earnings Per Share (Rs.)		18.38	12.69	--

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
Net Profit Margin (PBT/Sales)	(%)	8.72	7.35	6.36
Return on Total Assets (PBT/Total Assets}	(%)	11.98	11.18	11.98
Return on Investment (ROI) (PBT/Networth)		0.32	0.26	0.26
Debt Equity Ratio (Total Liability/Networth)		1.82	1.51	1.36
Current Ratio (Current Asset/Current Liability)		2.44	2.07	1.77

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
Promoter’s Background	Yes
No. of Employees	Yes
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 in the business	Yes
Details of sister concerns	Yes
Major Suppliers	No
Major Customers	No
Payments Terms	No
Export/ Imports Details (If applicable)	No
Market Information	-----
Litigations that the firm/ Promoters Involved in	-----
Banking details	Yes
Banking Facility Details	Yes
Conduct of the Banking Account	-----
Buyer visit details	-----
Financials, if provided	Yes
Incorporation details is applicable	Yes
Last Accounts filed at ROC	Yes
Major Shareholders, if available	Yes

NOTE

The registered office of the company has been shifted from Survey No.288/1, Near Dadra Grampanchayat, Dadra Demini Road, Dadra (U.T. of Dadra and Nagar Haveli) Dadar Nagar Haveli – 396 230 to the present address w.e.f. 16.04.2009.

FINANACIAL RESULTS

The Company reported a good performance with revenues increased by 35% as compared with that of the 8% in previous year. During the financial year 2010-11, the Company earned a net profit after tax of Rs.208.800 Millions as compared to the net profit after tax of Rs.144.200 Millions during the previous year 2009-10.

REVIEW OF OPERATIONS

During the year, the Company has expanded its installed capacity to cater aggressively in domestic as well as export market. The newly introduced product line of Melaminewares at Haridwar Unit II has helped us to grow the turnover in domestic market. The company has also made extensive investments in improving production and warehousing facilities in Sayali.

FUTURE PROSPECTS

The Company remains optimistic about its future performance and it is expected that the revenues will show further growth during the current financial year. Now the Haridwar Unit II and Sayali manufacturing unit has set up, thus revenue will be increased considerably in the years to come. The Company recently has also acquired a Company called Adroit Business Solutions Private Limited in order to set up another manufacturing facility at Haridwar. The Company has also planned to acquire a land at Sili, Silvassa to strengthen its warehousing facility.

Contingent liabilities: (Rs. In Millions)

Particulars	31.03.2011	31.03.2010
Letters of Credit	--	--
Counter Guarantees issued to Banks for LCs and Bank Guarantees	266.815	162.461
Corporate Guarantees to Bank/ Customs Dept. for a subsidiary.	184.161	122.561
Disputed Income Tax Demand to the extent unpaid	23.270	32.339
Capital Commitments (Net of Advances)	11.529	50.058

FORM 8

Corporate identity number of the company	U26101DN2000PTC000180
Name of the company	HAMILTON HOUSEWARES PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Plot No.49/ 50, Danudyog Industrial Estate, Amli, Piparia, Silvassa – 396 230, Dadra Nagar Haveli, India E-Mail: dipankar.rai@hamiltonindia.in
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10330284
Type of charge	Immovable property Book debts Movable property (not being pledge) Floating charge Others: Stocks of Raw materials, consumable stores etc
Particular of charge holder	SBICAP Trustee Company Limited 202, Maker Tower, 'E', Cuffe Parade, Colaba, Mumbai – 400005, Maharashtra, India corporate@sbicaptrustee.com
Nature of description of the instrument creating or modifying the charge	No instrument was executed. The Company created mortgage by deposit of documents of title on 26.12.2011 in favour of SBICAP Trustee Company Limited (STCL), STCL acting as a Security Trustee for SBI and HDFC (Term Lenders) in respect of its immovable properties situated at Dadra and Nagar Haveli and Uttaranchal (described in the letter attached hereto) to secure the due repayment of the Term Loans aggregating to Rs 675.000 Millions with interest and other monies payable by Company to Secured Parties.
Date of instrument Creating the charge	26/12/2011
Amount secured by the charge	Rs.675.000 Millions
Brief particulars of the principal terms and conditions and extent and operation of the charge	Rate of Interest: As per the Sanction letter Terms of Repayment: As per the sanction letter Margin: As per the sanction letter Extent and Operation of the charge: The charge created by mortgage by way of deposit of title deeds shall operate as a continuing security to secure the due repayment of Term Loans aggregating to Rs 675.000 Millions by the Company.
Short particulars of the property charged	Movable Plant and Machinery, Machinery spares, Tools and accessories, both present and future. Stocks of Raw material, semi finished and finished goods, consumable stores, book debts and current assets, such other moveable as may be agreed by the Lenders All that piece and parcel of the land admeasuring Area 1 Hectare ie 10,000 sq.mtrs situated over land bearing Survey No. 55/1/1 of village Rakholi, Dadra and Nagar Haveli, Silvassa All that piece and parcel of the land admeasuring Area 3200 sq.mtrs each plot situated over land bearing Plot No.49 and 50, Survey No.75/Part of Village Amli, Dadra and Nagar Haveli, Silvassa. All that piece and parcel of the leasehold land bearing Plot No. 1B, Sector 12 admeasuring 18560 sq. mtrs Khata No. 6566 situated at Ranipur, Haridwar, Uttaranchal. All that piece and parcel of the land admeasuring Area 1 Hectare ie 10,000 sq. mtrs situated over land bearing Survey No. 55/1/2 of Village Rakholi, Dadra and Nagar Haveli, Silvassa.
Particulars of the present modification	The charge created by the Company as per Deed of Hypothecation dated 26.12.2011 is modified to secure the due repayment of the Term Loans aggregating to Rs 675.000 Millions, by mortgage by way of deposit of the documents of title on 26.12.2011 in respect of its immovable properties.

FIXED ASSETS

· Land

· Factory Building

· Warehouse Building

· Plant and Machinery

· Factory Equipments

· Electrical Installations

· Dies and Moulds

· Material Handling Equipment

· Computers

· Office Equipments

· Furniture and Fixtures

· Air Conditioners

· Vehicles

· Computer Software’s

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.54.68
UK Pound	1	Rs.86.52
Euro	1	Rs.69.86

INFORMATION DETAILS

Report Prepared by :

NIT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	5
--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	YES
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	-

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