MIRA INFORM REPORT

Report Date :

03.11.2012

IDENTIFICATION DETAILS

Name :	POLYRUB EXTRUSIONS (INDIA) PRIVATE LIMITED
Registered Office :	Unit No. 77, Mistry Industrial Complex, MIDC Cross Road A, Andheri (East), Mumbai – 400093, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	19.10.2005
Com. Reg. No.:	11-156873
Capital Investment / Paid-up Capital :	Rs. 39.970 Millions
CIN No.: [Company Identification No.]	U25110MH2005PTC156873
TAN No.: [Tax Deduction & Collection Account No.]	MUMP21218B
PAN No.: [Permanent Account No.]	AADCP7071L
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturers and Exporters of industrial rubber hoses like fuel hoses, vacuum and canister hoses water hoses
No. of Employees :	150 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

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

Maximum Credit Limit :	USD 760000
Status :	Satisfactory
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a successor of Polyrub Extrusions (India), a partnership concern started in the year 1981. It is well established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be 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 – 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

INDIAN ECONOMIC OVERVIEW

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	CRISIL BBB – Long Term Rating
Rating Explanation	This rating are considered to have moderate degree of safety regarding timely servicing of financial obligation such instruments carry moderate credit risk.
Date	August 27, 2012

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ 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.

INFORMATION PARTED BY

Name :	Ms. Jayshree
Designation :	Finance Executive
Contact No.:	91-22-41620000

LOCATIONS

Registered Office :	Unit No. 77, Mistry Industrial Complex, MIDC Cross Road A, Andheri (East), Mumbai – 400093, Maharashtra, India
Tel. No.:	91-22-26870360 / 28300360 / 28321769 / 28366494 / 6441 / 26870441 / 26871769 / 26872696 / 26870330
Fax No.:	91-22-28367339 / 26870339
E-Mail :	jayshree@polyrubextrusions.com polyrub@gmail.com sujan@bom3.vsnl.net.in
Website :	http://www.polyrubextrusions.com
Location:	Owned
Factory 1 :	Plot No. W-102 D, MIDC, Thane Belapur, Khairane, Navi Mumbai – 400705, Maharashtra, India
Tel. No.:	91-22-65163530 / 65163531 / 55903530 / 55903531 / 55901770 / 71
Fax No.:	91-22-55903532 / 27616687
E-Mail :	info@polyrubextrusions.com polyrub@mantraonline.com polyrub@vsnl.net
Factory 2 :	Gat No. 389, Plot No. C-43, Chakan-Talegaon Road, Pune – 410501, Maharashtra, India
Factories :	SUJAN INDUSTRIES 16, 17 / 77, Mistry Industrial Complex, MIDC Cross Road A, Andheri (East), Mumbai - 400093, Maharashtra, India Tel 91-22-2687 0441, 91-22-2687 1769 Fax : 91-22-2687 0339 E-mail: sujan@bom3.vsnl.net.in SPECIALITY ELASTOMERS Plat No. W- 129 A, MIDC Thane Belapur Road, Khairne, Navi-Mumbai-400705, Maharashtra, India Tel: 91-22-5590 3530, 91-22-5590 3531, 91-22-5590 1770/71 Fax : 91-22-5590 3532 E-mail : polyrub@mantraonline.com E-mail : polyrub@vsnl.net MEGA RUBBER TECHNOLOGIES PRIVATE LIMITED Building No. 1, Agarwal Udyog Nagar Waliv, Vasai Road (East), District Thane - 401208, Maharashtra, India Tel: 91- 0250-454 365, 91- 0250-454 520 Fax: 91- 0250-454 519 E-mail : mega_rubber@vsnl.com MOULD- DE-SUJAN Unit No. 5, Waliv, Vasai Road (East), District Thane - 401208, Maharashtra, India Tel: 91- 0250-454 365, 91- 0250-454 520 Fax: 91- 0250-454 519 E-mail : mega_rubber@vsnl.com VEE KAY RUBBER PRODUCTS 3, Mistry Industrial Complex, MIDC Cross Road A, Andheri (East), Mumbai-400093, Maharashtra, India Tel : 91-22-2687 0360 Fax: 91-22-2687 0339 E-Mail : sujan@bom3.vsnl.net.in TEE VEE TOOLS AND ENGINEERING INDUSTRIES 89, Mistry Industrial Complex, M.I.D.C, Cross Road , "A", Andheri (East), Mumbai – 400093, Maharashtra, India Tel : 91-22-2687 0360 Fax : 91-22-2687 0339 E-Mail : sujan@bom3.vsnl.net.in

DIRECTORS

AS ON 30.09.2011

Name :

Mr. Tulsi Rewachand Sujan

Designation :

Director

Address :

401/ 402, Gulshan, Junction of Ahinsa Marg, and Khar Danda Road, Mumbai - 400052, Maharashtra, India

Date of Birth/Age :

18.03.1949

Date of Appointment :

19.10.2005

DIN No.:

01561095

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	U25190MH1994PTC079883	MAGNUM ELASTOMERS PRIVATE LIMITED	Director	27/07/1994	27/07/1994	Active	NO
2	U25110MH1995PTC084554	MEGA RUBBER TECHNOLOGIES PRIVATE LIMITED	Director	11/01/1995	11/01/1995	Active	NO
3	U25110MH2005PTC156873	POLYRUB EXTRUSIONS (INDIA) PRIVATE LIMITED	Director	19/10/2005	19/10/2005	Active	NO
4	U70102MH2007PTC167360	SUJAN REALTORS PRIVATE LIMITED	Director	29/01/2007	29/01/2007	Active	NO

Name :

Mr. Jaiprakash Khanchand Vasdani

Designation :

Director

Address :

703-C, Ganga Estate, Behind Atur Park, Chembur, Mumbai - 400071, Maharashtra, India

Date of Birth/Age :

12.04.1955

Date of Appointment :

19.10.2005

DIN No.:

01424172

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	U25190MH1994PTC079883	MAGNUM ELASTOMERS PRIVATE LIMITED	Director	27/07/1994	27/07/1994	Active	NO
2	U25110MH1995PTC084554	MEGA RUBBER TECHNOLOGIES PRIVATE LIMITED	Director	04/07/1997	04/07/1997	Active	NO
3	U25110MH2005PTC156873	POLYRUB EXTRUSIONS (INDIA) PRIVATE LIMITED	Director	19/10/2005	19/10/2005	Active	NO

Name :

Mrs. Padma Harish Sujan

Designation :

Director

Address :

B 4/6, Basant Park, Mahul Road, Chembur, Mumbai - 400071, Maharashtra, India

Date of Birth/Age :

22.03.1949

Date of Appointment :

19.10.2005

DIN No.:

01560907

Name :

Mrs. Sheetal Neelkumar Sujan

Designation :

Director

Address :

802/902, Ruchita Tower, Juhu Versova Link Road, Andheri (West), Mumbai - 400053, Maharashtra, India

Date of Birth/Age :

01.03.1960

Date of Appointment :

19.10.2005

DIN No.:

02420986

Name :

Mrs. Kanchan Ghansham Sujan

Designation :

Director

Address :

901, Buena Vista, St. Alexius Road, Bandra (West), Mumbai - 400050, Maharashtra, India

Date of Birth/Age :

02.07.1961

Date of Appointment :

19.10.2005

DIN No.:

02420987

Name :

Mrs. Satvinderkaur Vijay Sujan

Designation :

Director

Address :

302, Kripa Nidhi, Plot No. 27, JVPD Scheme , Gulmohur Cross Road 4, Vile Parle (West), Mumbai – 400056, Maharashtra, India

Date of Birth/Age :

09.10.1974

Date of Appointment :

19.10.2005

DIN No.:

02420992

Name :

Mr. Ashok Sujan Rewachand

Designation :

Director

Address :

1701, Green Acre, Plot 325, Lokhandwala Complex, Andheri West, Mumbai 400058, Maharashtra, India

Date of Birth/Age :

20.12.1950

Date of Appointment :

19.10.2005

DIN No.:

01424203

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	U25110MH1995PTC084554	MEGA RUBBER TECHNOLOGIES PRIVATE LIMITED	Director	04/07/1997	04/07/1997	Active	NO
2	U25190MH1994PTC079883	MAGNUM ELASTOMERS PRIVATE LIMITED	Director	09/10/2004	09/10/2004	Active	NO
3	U25110MH2005PTC156873	POLYRUB EXTRUSIONS (INDIA) PRIVATE LIMITED	Director	19/10/2005	19/10/2005	Active	NO
4	U51900MH2008PTC185753	SUJAN BARRE THOMAS ANTIVIBRATION SYSTEMS PRIVATE LIMITED	Director	28/07/2011	26/08/2008	Active	NO

Name :

Mr. Ghansham Rewachand Sujan

Designation :

Director

Address :

901, Buena Vista, St. Alexius Road, Bandra (West), Mumbai - 400050, Maharashtra, India

Date of Birth/Age :

10.07.1954

Date of Appointment :

01.10.2007

DIN No.:

02420985

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	U25110MH1995PTC084554	MEGA RUBBER TECHNOLOGIES PRIVATE LIMITED	Director	07/09/1996	07/09/1996	Active	NO
2	U25190MH1994PTC079883	MAGNUM ELASTOMERS PRIVATE LIMITED	Director	09/10/2004	09/10/2004	Active	NO
3	U70102MH2007PTC167360	SUJAN REALTORS PRIVATE LIMITED	Director	29/01/2007	29/01/2007	Active	NO
4	U25110MH2005PTC156873	POLYRUB EXTRUSIONS (INDIA) PRIVATE LIMITED	Director	01/10/2007	01/10/2007	Active	NO

KEY EXECUTIVES

Name :	Ms. Jayshree
Designation :	Finance Executive

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2011

Names of Shareholders	No. of Shares
Tulsi Rewachand Sujan	142142
Jai Prakash Vasdani	142143
Ashok Rewachand Sujan	142143
Padma Harish Sujan	142143
Kanchan R. Sujan	142143
Sheetal Neel Sujan	142143
Satvinder V. Sujan	142143
Total	995000

AS ON 30.11.2011

Names of Allottees	No. of Shares
Tulsi Rewachand Sujan	215000
Jai Prakash Vasdani	215000
Ashok Rewachand Sujan	215000
Padma Harish Sujan	215000
Kanchan R. Sujan	215000
Sheetal Neel Sujan	215000
Satvinder V. Sujan	215000
Total	1505000

AS ON 31.01.2012

Names of Allottees	No. of Shares
Tulsi Rewachand Sujan	213858
Jai Prakash Vasdani	213857
Ashok Rewachand Sujan	213857
Padma Harish Sujan	213857
Kanchan R. Sujan	213857
Sheetal Neel Sujan	213857
Satvinder V. Sujan	213857
Total	1497000

AS ON 30.09.2011

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturers and Exporters of industrial rubber hoses like fuel hoses, vacuum and canister hoses water hoses
Products :	Ø Fuel Hoses Ø Vacuum / Cannister / Breather Hoses Ø Radiator / Heator / Coolant Hoses Ø Oil Hoses

GENERAL INFORMATION

Customers :

Wholesalers, Retailers and End Users

No. of Employees :

150 (Approximately)

Bankers :

Ø Citibank N.A., Citibusiness, Citibank Centre, 2^nd Floor, Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India

Ø Standard Chartered Bank, SME Credit, Crescenzo, 3A/F, Plot No. C-38 and 39, G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India

Ø Standard Chartered Bank, SME Credit, 23-25, M G Road, Fort, Mumbai – 400 001, Maharashtra, India

Facilities :

Long Term Borrowings	31.03.2012	31.03.2011
	(Rs. In Millions)
Long Term Borrowings	236.856	206.286
Total	236.856	206.286
Short Term Borrowings	31.03.2012	31.03.2011
	(Rs. In Millions)
Short Term Borrowings	189.010	129.642
Total	189.010	129.642

Banking Relations :	--
Auditors :
Name :	Rohira Mehta and Associates Chartered Accountants
Address :	B-202, 2^nd Floor, Grand Bella Vista, Near Jari Mari Temple, S.V. Road, Bandra West, Mumbai – 400050, Maharashtra, India
Tel. No.:	91-22-42084500
Fax No.:	91-22-42084501
E-Mail :	info@rohiramehta.com
Income-tax PAN of auditor or auditor's firm :	AAFFR0198H

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
5,000,000	Equity Shares	Rs. 10/- each	Rs. 50.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3,997,000	Equity Share	Rs.10/- each	Rs. 39.970 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012		31.03.2011
I EQUITY AND LIABILITIES
a] Share Capital		39.970		9.950
b] Reserves & Surplus		150.926		116.022
c] Money received against share warrants		0.000		0.000
2] Share application money pending allotment		0.000		0.000
3] Non-Current Liabilities
a] Long term borrowings		236.856		206.286
b] Deferred tax liabilities		11.449		9.869
c] Other long terms liabilities		7.050		4.070
d] Long-term provision		0.490		0.215
4] Current Liabilities
a] Short-term borrowings		189.010		129.642
b] Trade Payables		181.619		175.308
c] Other current liabilities		61.830		41.599
d] Short-term provision		10.921		4.015
TOTAL		890.121		696.976
II ASSETS
1] Non-Current Assets
a] Fixed Assets
i] Tangible assets		363.776		339.381
ii] Intangible assets		10.989		14.973
iii] Capital work-in-progress		0.000		0.000
b] Long term loans and advances		33.359		13.669
c] Other non-current assets		0.337		14.046
2] Current Assets
a] Current Investments
b] Inventories		105.991		92.842
c] Trade receivables		269.961		165.238
d] Cash and cash equivalents		16.737		7.456
e] Short-term loans and advances		45.326		30.273
f] Other current assets		43.645		19.098
TOTAL		890.121		696.976
SOURCES OF FUNDS			31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital			9.950
2] Share Application Money			0.000
3] Reserves & Surplus			101.887
4] (Accumulated Losses)			0.000
NETWORTH			111.837
LOAN FUNDS
1] Secured Loans			199.511
2] Unsecured Loans			115.164
TOTAL BORROWING			314.675
DEFERRED TAX LIABILITIES			6.551
TOTAL			433.063
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]			314.222
Capital work-in-progress			0.609
INVESTMENT			0.000
DEFERREX TAX ASSETS			0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories		46.262
	Sundry Debtors		120.459
	Cash & Bank Balances		3.652
	Other Current Assets		0.000
	Loans & Advances		46.603
Total Current Assets			216.976
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors		75.127
	Other Current Liabilities		39.287
	Provisions		0.000
Total Current Liabilities			114.414
Net Current Assets			102.562
MISCELLANEOUS EXPENSES			15.670
TOTAL			433.063

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	1026.226	687.162	464.591
		Other Income	11.795	8.198	8.273
		TOTAL (A)	1038.021	695.360	472.864
Less	EXPENSES
		Cost of raw material consumed	513.322	363.023	242.029
		Purchase of traded goods	21.024	16.339	0.000
		Changes in inventories of raw material and finished goods	(13.858)	(6.814)	(4.312)
		Employee benefit expenses	76.967	61.529	42.623
		Other Expenses	296.400	174.168	106.802
		TOTAL (B)	893.855	608.245	387.142
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		144.166	87.115	85.722
Less	FINANCIAL EXPENSES (D)		46.200	30.850	29.578
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		97.966	56.265	56.144
Less/ Add	DEPRECIATION/ AMORTISATION (F)		51.513	36.214	32.647
	PROFIT BEFORE TAX (E-F) (G)		46.453	20.051	23.497
Less	TAX (H)		14.213	5.690	7.176
	PROFIT AFTER TAX (G-H) (I)		32.240	14.361	16.321
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		116.022	101.887	87.078
Less	APPROPRIATIONS
		Previous year Tax Arrears	N.A.	0.226	1.512
	BALANCE CARRIED TO THE B/S		N.A.	116.022	101.887
	EARNINGS IN FOREIGN CURRENCY		N.A.	N.A.	73.271
	Earnings Per Share (Rs.)
	Basic		18.51	14.21	16.40
	Diluted		18.51	3.54	--

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	3.11	2.07	3.45
Net Profit Margin (PBT/Sales)	(%)	4.53	2.92	5.06
Return on Total Assets (PBT/Total Assets}	(%)	5.22	2.88	4.42
Return on Investment (ROI) (PBT/Networth)		0.24	0.16	0.21
Debt Equity Ratio (Total Liability/Networth)		3.60	4.45	3.84
Current Ratio (Current Asset/Current Liability)		1.97	1.52	1.90

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	No
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 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	No
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]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

Note: The registered address of the company has been shifted from 90, Mistry Industrial Estate, MIDC Cross Road 'A', Andheri East, Mumbai - 400093, Maharashtra, India to the present w.e.f. 14.06.2007

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U25110MH2005PTC156873
Name of the company	POLYRUB EXTRUSIONS (INDIA) PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Unit No. 77, Mistry Industrial Complex , Midc Cross Road A, Andheri East, Mumbai – 400093, Maharashtra, India Email ID: polyrub@gmail.com
This form is for	Modification of charge
Charge identification number of the modified	10134583
Type of charge	Immovable Property
Particular of charge holder	Standard Chartered Bank, SME Credit, Crescenzo, 3A/F, Plot no. C-38 & 39, G Block, Bandra Kurla Complex, Bandra East, Mumbai – 400051, Maharashtra, INDIA Email ID: sme.form8@sc.com
Nature of description of the instrument creating or modifying the charge	Memorandum of Entry
Date of instrument Creating the charge	22.08.2012
Amount secured by the charge	Rs. 254.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest As agreed by and with the Bank from time to time. Terms of Repayment As agreed by and with the Bank from time to time. Margin As applicable, if any. Extent and Operation of the charge The Bank is having pari passu charge with Axis Bank on the security given by the Company.
Short particulars of the property charged	Pari passu charge with Axis Bank on a) all that piece and parcel of property being industrial property located at land and bldg along with immovable fixed assets permanently affixed to earth located at W-102 (D), MIDC Area, Thane Belapur Road, Khairne, Navi Mumbai 400 705. (Owned by Polyrub Extrusion (India) Private Limited b) all that piece and parcel of property being industrial property located at land and building along with immovable fixed assets permanently affixed to earth located at W-107 (B), MIDC Area, Thane Belapur Road, Khairne, Navi Mumbai 400 705. (Owned by Polyrub Extrusion (India) Private Limited) c) all that piece and parcel of property located at land and building immovable fixed assets permanently affixed to earth located at Gat no. 389, Village Mahalunge Chakan, Pune together with plant and machinery. (Owned by Polyrub Extrusion (India) Private Limited) d) all that piece and parcel being industrial property located at Gat no. C-43, Chakan Industrial Area, MIDC, Malunge, Talegaon, Chakan Road, Pune (Owned by Polyrub Extrusion (India) Private Limited) e) all that piece and parcel being industrial property located at Unit no. 4, 4th floor, of Notan Plaza, 898, Turner Road, Bandra West, Mumbai 400 050. (Owned by Magnum Elastomers Private Limited)
Particulars of the present modification	The existing charge amt of Rs. 254.000 Millions is also now secured with immovable properties of the Company and immovable properties of Magnum Elastomers Private Limited

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 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. 53.66
UK Pound	1	Rs. 86.37
Euro	1	Rs. 69.24

INFORMATION DETAILS

Report Prepared by :

BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		50

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.