MIRA INFORM REPORT

Report Date :

16.12.2012

IDENTIFICATION DETAILS

Name :	FORECH INDIA LIMITED
Registered Office :	S-23, Green Park Extension, New Delhi – 110 016, Delhi
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	21.01.1983
Com. Reg. No.:	55-015047
Capital Investment/ Paid-up Capital:	Rs.97.000 Millions
CIN No.: [Company Identification No.]	U51109DL1983PLC015047
TAN No.: [Tax Deduction & Collection Account No.]	DELF02468E
PAN No.: [Permanent Account No.]	AAACF0240N
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Conveyor Belts, Rubber Sheets Conveyor Belt Accessories and Repair Material
No. of Employees:	400 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

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

Maximum Credit Limit :	USD 1910000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Exist
Comments :	Subject is a well established company having satisfactory track. the latest financials are not made available. As per the financial of 2011, the company is found to be improving well. Trade relations are reported as decent. Business is active. Payments are reported to be usually correct 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	BBB + (Long Term Rating)
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	31.05.2012

Rating Agency Name	CRISIL
Rating	A2 (Short Term Rating)
Rating Explanation	Strong degree of safety and very low credit risk.
Date	31.05.2012

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 :	S.C Gupta
Designation :	Finance Manager
Contact No.:	91-11-26960868
Date :	16.11.2012

LOCATIONS

Registered Office :	S-23, Green Park Extension, New Delhi – 110 016
Tel. No.:	91-11-26960868
Fax No.:	91-11-26862373
E-Mail :	scg@forech.com
Website :	www.forech.com
Area :	10000 sq. ft. (approximately)
Location :	Owned
Factory 1 :	Village Rai, G. T. Road, Tehsil and District Sonepat – 131 029, Haryana, India
Tel. No.:	91-130-2366571/2366572/2366379
Fax No. :	91-130-2366384
E-Mail :	rai@forech.net
Factory 2 :	Malikpur Road, Village Dhaturi, Sonepat-131 027, Haryana, India
Tel. No.:	91-130-2475931
Fax No.:	91-130-2475931
E-Mail :	dhaturi@forech.net
Factory 3 :	1, Sipcot Indusrial Park, Post Mathur Mangal, Cheyyar, District Thiruvannamalai - 610 701, Tamil Nadu, India
Mobile No.:	91-9444895612
E-Mail :	cheyyar@forech.net

DIRECTORS

As on 25.08.2012

Name :

Mr. Krishan Agarwal

Designation :

Whole Time Director

Address :

53 Suvidha Kunj Zone H 4/5, Pitampura, New Delhi- 110085, Delhi, India

Date of Birth/Age :

25.05.1970

Date of Appointment :

22.07.2011

Din No.:

00020206

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	U45201DL2001PTC110851	VIKAS PLANNER PVT LTD	Director	15/05/2001	15/05/2001	-	Active	NO
2	U51909DL2002PTC117547	NILOS RUBCON PRIVATE LIMITED	Director	31/12/2003	31/12/2003	24/03/2009	Active	NO
3	U74899DL1989PTC036948	NANDA DEVI BUILDERS PRIVATE LIMITED	Director	28/06/2005	28/06/2005	-	Active	NO
4	U17299DL2005PTC138149	SUNRISE FABTECH PRIVATE LIMITED	Director	29/06/2005	29/06/2005	-	Active	NO
5	U45201DL2005PTC138159	SUNRISE BUILDMORE PRIVATE LIMITED	Director	30/06/2005	30/06/2005	-	Active	NO
6	U27203PY1996PTC001274	SRI KRISHNA ALUCAST PRIVATE LIMITED	Director	12/11/2006	12/11/2006	20/08/2011	Active	NO
7	U27203PY1996PLC001275	PONDICHERRY ALUMINIUM LIMITED	Director	12/11/2006	12/11/2006	20/08/2011	Active	NO
8	U51109DL1983PLC015047	FORECH INDIA LIMITED	Director	22/07/2011	01/04/2008	-	Active	NO
9	U29249TN1986PTC013451	NILOS INDIA PRIVATE LIMITED	Alternate director	24/03/2010	24/03/2010	-	Active	NO
10	U45400DL2008PTC185721	GDS PROJECT SOLUTIONS PRIVATE LIMITED	Director	15/02/2011	15/02/2011	02/05/2012	Active	NO

Name :

Mr. Ravi Khanna

Designation :

Managing Director

Address :

B-1/40, Safdarjaug Enclave, New Delhi – 110029, Delhi, India

Date of Birth/Age :

06.12.1955

Date of Appointment :

01.04.2011

DIN No. :

00165154

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	U74899DL1983PTC015595	MANSAAROVER IRRIGATIONS PRIVATE LIMITED	Director	23/04/1983	23/04/1983	-	Active	NO
2	U51109DL1983PLC015047	FORECH INDIA LIMITED	Managing director	01/04/2011	15/09/1995	-	Active	NO
3	U25209DL2002PTC115324	EAGLE MINING PRODUCTS PRIVATE LIMITED	Director	13/05/2002	13/05/2002	-	Active	NO
4	U51909DL2002PTC117547	NILOS RUBCON PRIVATE LIMITED	Director	31/10/2002	31/10/2002	24/03/2009	Active	NO
5	U25192DL2007PTC159129	OPTITECH CONVEYORS PRIVATE LIMITED	Director	12/02/2007	12/02/2007	25/03/2009	Active	NO
6	U22110HR2010PTC040759	JAYPEE PUBLISHER PRIVATE LIMITED	Director	25/06/2010	25/06/2010	-	Active	NO
7	U25190DL2010PTC211372	GERBELT CONVEYER SYSTEMS PRIVATE LIMITED	Director	13/12/2010	13/12/2010	-	Active	NO
8	U85195MH1994PTC080801	ACCUREX BIOMEDICAL PRIVATE LIMITED	Director	30/09/2011	03/05/2011	-	Active	NO
9	U14220DL2007PTC163241	HILTON POLYFLEX PRIVATE LIMITED	Director	05/05/2011	05/05/2011	-	Active	NO

Name :

Mr. Bharat Gandotra

Designation :

Whole-time director

Address :

B-1/40, Safdarjaug Enclave, New Delhi – 110029, Delhi, India

Date of Birth/Age :

10.07.1975

Date of Appointment :

01.04.2011

DIN No. :

00165267

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	U74899DL1994PLC059695	HILTON INTERNATIONAL LIMITED	Director	01/07/1997	01/07/1997	-	Amalgamated	NO
2	U51109DL1983PLC015047	FORECH INDIA LIMITED	Whole-time director	01/04/2011	01/04/2008	-	Active	NO
3	U25190DL2010PTC211372	GERBELT CONVEYER SYSTEMS PRIVATE LIMITED	Director	13/12/2010	13/12/2010	-	Active	NO

Name :

Ms. Jyoti Khanna

Designation :

Director

Address :

B-1/40, Safdarjaug Enclave, New Delhi – 110029, Delhi, India

Date of Birth/Age :

03.12.1957

Date of Appointment :

02.01.1995

DIN No. :

00165409

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	U51109DL1983PLC015047	FORECH INDIA LIMITED	Director	02/01/1995	02/01/1995	-	Active	NO
2	U22110HR2010PTC040759	JAYPEE PUBLISHER PRIVATE LIMITED	Director	25/06/2010	25/06/2010	-	Active	NO

Name :

Mr. Jens Hamacher

Designation :

Additional Director

Address:

Dorotheenstrasse, Dusseldorf – 40325, Germany

Date of Birth/Age :

20.06.1973

Date of Appointment :

25.08.2010

DIN No. :

02758627

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	U51909DL2002PTC117547	NILOS RUBCON PRIVATE LIMITED	Nominee director	20/01/2004	20/01/2004	-	Active	NO
2	U51109DL1983PLC015047	FORECH INDIA LIMITED	Director	25/08/2010	28/05/2010	-	Active	NO

Name :

Mr. Thomas Josef Ziller

Designation :

Additional Director

Address:

Dorfstrasse, Erkrath – 40699, Germany

Date of Birth/Age :

14.03.1953

Date of Appointment :

25.08.2010

DIN No. :

02846016

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	U29249TN1986PTC013451	NILOS INDIA PRIVATE LIMITED	Nominee director	18/07/1997	18/07/1997	-	Active	NO
2	U51109DL1983PLC015047	FORECH INDIA LIMITED	Director	25/08/2010	28/05/2010	-	Active	NO

KEY EXECUTIVES

Name :	S.C Gupta
Designation :	Finance Manager
Name :	Mr. Anuradha Nahar
Designation :	Secretary
Address:	Namdev Chowk, Near Babaji Ki Haveli, Janganer, Jaipur– 302029, Rajasthan India
Date of Birth/Age :	06.07.1989
Date of Appointment :	11.05.2011
Pan No. :	ANWPN9280A

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 25.08.2012

Names of Shareholders	No. of Shares
Ravi Khanna	529000
Jyoti Khanna	630878
Aadisht Khanna	864000
Ravi Khanna HUF	2880494
Bhavya Khanna	857000
Suversha Khanna	448672
Ravi Khanna and R Letter Anand	9000
Hilton Tyre Private Limited	400000
Euro Soft Solution	300000
G C Technology (India) Private Limited	18000
Fair N Square Exports Private Limited – India	18000
Bharat Gandotra	846824
Bhavna Malik	16
Manik Dogra	16
D D Agarwal	86400
Pankaj Agarwal	9600
D D Aggarwal HUF	9600
Sunrise Build more Private limited, India	612500
Renu Aggarwal	67200
Hira Mani Devi	52800
Nilos Hans Ziller, Germany	960000
Blue prints Securities limited	600000
Total	10200000

Equity Share Break up (Percentage of Total Equity)

As on 25.08.2012

Category	Percentage
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	9.41
Bodies corporate	47.43
Directors or relatives of directors	43.16
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Conveyor Belts, Rubber Sheets Conveyor Belt Accessories and Repair Material

Products :

Product Description	ITC Code
Conveyor Belt	4010.90
Compound Rubber	4005.00
Rubber Sheet	4008.29
Transmission Belt	4010.90

· Conveyor Belts

· Transmission belts

· Cleated Belts

· V-Belts

· Rubber Sheets

· Conveyor Accessories

· Strips

· Conveyor belt’s Repair Strips

· Patches

· Material Handling Equipments

Exports :

Products :

· Conveyor Belts

· Rubber Sheets Conveyor

· Belt Accessories

· Repair Material

Countries :

· Europe

· Australia

Imports :

Products :

Raw Material

Countries :

· Thailand

· Malaysia

· China

· Korea

Terms :

Selling :

Cash/Credit

Purchasing :

Cash/Credit

PRODUCTION STATUS As on 31.03.2011

Particulars	Unit	Installed Capacity	Actual Production
Conveyor Belts	MT	12000	564787 Mtrs
Rubber Sheet	MT	6000	237297 Mtrs

GENERAL INFORMATION

Customers :

Wholesalers, Retailers

No. of Employees :

400 (Approximately)

Bankers :

· HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel West, Mumbai – 400 013, Maharashtra

· Bank of Punjab Limited, L – 40, Connaught Circus, New Delhi – 110 001, India

Facilities :

Secured Loans	As on 31.03.2011 Rs. in millions	As on 31.03.2010 Rs. in millions
Rupee term loans banks secured	(A)138.440	184.601
Foreign currency loans banks secured	11.567	0.000
Working capital loans banks secured	(B)118.284	60.082
Loans taken for vehicles secured	(C)6.026	2.542
Total	274.317	247.225

Footnotes

(A) ( Term Loans are secured by first paaripassu charge on entire Fixed Assets of the Company and second parripassu charges by way of hypthecation of Raw Material, Finished Goods, Work in Progress and Book Debts also by Personal Guarantee of Directors of the Company.)

(B) ( Working Capital limits are secured by first parripassu charge by hypothecation of Raw Material, Finished Goods , Work in Process, Book Debts and second parripassu charge on entire fixed assets and further secured by personal guarantee of Directors of the Company. )

(C) (Cars Loans from HDFC Bank Limited and Axis Bank are secured against Hypothecation of car )

Unsecured Loans	As on 31.03.2011 Rs. in millions	As on 31.03.2010 Rs. in millions
Loans directors unsecured	67.398	53.366
Public deposits unsecured	13.279	27.339
Deposits related parties unsecured	54.263	24.840
Total	134.940	105.545

Banking Relations :	--
Auditors :
Name :	Shanti Prasad and Company Chartered Accountants
Address :	M-96, Connaught Place, New Delhi 110 001, Delhi, India
Tel. No.:	91-11-23416000/ 7000
Pan No.:	AAZFS2102G
Associates :	· Hilton International Limited Address: Hilton House, S-23, Green Park Extension, New Delhi – 110 016 Tel. 91-11-26534243/26516327 Fax. 91-11-51755366 E-mail. hilton@hilton-int.com Line of Business: Manufacturer of Conveyor Belts, Rubber Sheets Conveyor Belt Accessories and Repair Material · Mercury Rubber Mills · Hilton Renoulds Limited, Rai, Sonepat · Sunrise Buildmore P Limited

CAPITAL STRUCTURE

As on 25.08.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
14200000	Equity Shares	Rs.10/- each	Rs.142.000 Millions

Issued, Subscribed Capital :

No. of Shares	Type	Value	Amount
10200000	Equity Shares	Rs.10/- each	Rs.102.000 Millions

Paid-up Capital :

No. of Shares	Type	Value	Amount
9750000	Equity Shares	Rs.10/- each	Rs.97.500Millions

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
14200000	Equity Shares	Rs.10/- each	Rs.142.000 Millions

Issued, Subscribed Paid-up Capital :

No. of Shares	Type	Value	Amount
9850000	Equity Shares	Rs.10/- each	Rs.98.500 Millions
	Less: Forfeiter shares		Rs.1.500
			Rs.97.000 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		97.000	92.328	87.400
2] Share Application Money		0.000	18.156	0.000
3] Reserves & Surplus		381.206	301.977	205.391
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		478.206	412.461	292.791
LOAN FUNDS
1] Secured Loans		274.317	247.225	165.252
2] Unsecured Loans		134.940	105.545	88.441
TOTAL BORROWING		409.257	352.770	253.693
DEFERRED TAX LIABILITIES		27.670	24.307	9.967
TOTAL		915.133	789.538	556.451
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		621.226	575.881	188.052
Capital work-in-progress		9.478	52.430	193.896
INVESTMENT		0.608	0.608	0.608
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	348.195	130.826	117.388
	Sundry Debtors	345.980	200.570	188.529
	Cash & Bank Balances	38.657	21.174	21.583
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	97.762	87.001	82.480
Total Current Assets		830.594	439.571	409.980
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	486.873	244.873	182.257
	Other Current Liabilities	46.412	20.178	23.268
	Provisions	13.711	14.286	30.860
Total Current Liabilities		546.996	279.337	236.385
Net Current Assets		283.598	160.234	173.595
MISCELLANEOUS EXPENSES		0.223	0.385	0.000
TOTAL		915.133	789.538	556.451

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	1788.854	1247.768	1336.336
		Other Income	20.584	3.388	2.993
		TOTAL (A)	1809.438	1251.156	1339.329
Less	EXPENSES
		Consumption materials changes inventories	1264.812	844.375
		Manufacturing service costs	171.503	132.928
		Employee related expenses	78.565	46.179
		Administrative selling other expenses	127.717	104.435
		TOTAL (B)	1642.597	1127.917	1187.700
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		166.841	123.239	151.629
Less	FINANCIAL EXPENSES (D)		52.939	26.530	45.433
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		113.902	96.709	106.196
Less/ Add	DEPRECIATION/ AMORTISATION (F)		84.302	37.313	27.762
	PROFIT BEFORE TAX (E-F) (G)		29.601	59.396	78.434
Less	TAX (H)		10.864	25.839	28.488
	PROFIT AFTER TAX (G-H) (I)		18.737	33.557	49.946
Less	INCOME TAX ADJUSTMENT OF EARLIER YEARS		NA	1.042	0.348
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		NA	110.005	60.407
	BALANCE CARRIED TO THE B/S		NA	142.520	110.005
	EARNINGS IN FOREIGN CURRENCY		974.489	564.345	691.662
	IMPORTS
		Raw Materials	493.366	169.101	213.437
		Plant and Machinery	14.996	45.989	36.884
		Maintenance Goods	0.016	0.050	4.111
		Packing Material	2.656	0.232	0.784
	TOTAL IMPORTS		511.034	215.372	255.216
	Earnings Per Share (Rs.)		2.5	3.71	6.24

Particulars	31.03.2012
Sales Turnover (Approximately)	2500.000

Expected Sales (2012-2013): Rs.2600.000 Millions

The above information has been parted by Mr. S.C Gupta

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	1.03	2.68	3.73
Net Profit Margin (PBT/Sales)	(%)	1.65	4.76	5.87
Return on Total Assets (PBT/Total Assets}	(%)	2.03	5.84	13.12
Return on Investment (ROI) (PBT/Networth)		0.06	0.14	0.27
Debt Equity Ratio (Total Liability/Networth)		1.99	1.54	1.67
Current Ratio (Current Asset/Current Liability)		1.52	1.57	1.73

LOCAL AGENCY FURTHER INFORMATION

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

LITIGATION DETAILS

S. No.	Case No                          Judgement(s)	Date of Judgement
If Judgment(s) (After Feb'2007) Not Found Please Search at : http://lobis.nic.in/dhc/

S. No.	Case No                          Judgement(s)	Date of Order
1.	CS(OS) 383/2012 and IA No. 2927/2012 (under Order XXXIX Rule 1 and 2	17/09/2012
2.	CS(OS) 383/2012	25/07/2012
3.	CS(OS) 383/2012	15/02/2012
If You Are Not Able To Reach At Your Desired Order Or Judgement Then Click On Aproximate Search of Order(s) and Judgement(s)

IN THE HIGH COURT OF DELHI AT NEW DELHI


  CS(OS) 383/2012 and IA No. 2927/2012 (under Order XXXIX Rule 1 and 2
  CPC) and IA No. 2928/2012 (under Order II Rule 2 CPC)

  DUNLOP INDIA LTD ..... Plaintiff

  Through Mr. Ashok, Advocate .

versus


  FORECH INDIA LIMITED ..... Defendant

  Through Ms. Vaishali Mittal, Advocate .


  CORAM:

  SH. GIRISH KATHPALIA (DHJS), JOINT REGISTRAR



ORDER

   17.09.2012



 Written statement has not been filed till date. It is contended by   learned counsel for defendant that they had sent a compromise proposal   to learned counsel for plaintiff and have even stopped the user of the   impugned trade mark. Learned counsel for plaintiff admits that he   received the compromise proposal but he is not getting instructions from   his clients for settlement. However, since no written communication was   issued by learned counsel for plaintiff as regards settlement proposal,  

learned counsel for plaintiff fairly does not dispute that defendant   was under mistaken impression that the matter is going to be compromised.   As such, on oral request of learned counsel for defendant, defendant is  granted last opportunity to file written statement and reply within four   weeks, to be followed by replication and rejoinder within next four   weeks.

At request both the sides are granted four weeks to file their  complete original documents, to be followed by their admission / denial  affidavit within next four weeks.

 Relist for completion of pleadings as also for admission/denial of   documents on 20th February, 2013.

  SH. GIRISH KATHPALIA (DHJS)

  JOINT REGISTRAR

  SEPTEMBER 17, 2012

  ms

FORM 8

Corporate identity number of the company	U51109DL1983PLC015047
Name of the company	FORECH INDIA LIMITED
Address of the registered office or of the principal place of business in India of the company	S 23, Green Park Extension, New Delhi- 110016, Delhi, India Email: scg@forech.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10292818
Type of charge	· Book debts · Movable property (not being pledge) · Floating charge
Particular of charge holder	HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel West, Mumbai – 400 013, Maharashtra Email: RBBform8@hdfcbank.com
Nature of instrument creating charge	Supplementary Letter of Hypothecation.
Date of instrument Creating the charge	11.06.2012
Amount secured by the charge	Rs. 448.760 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest Interest at the rate as may be communicated by the Bank from time to time. Term of Payment: On demand. Margin As may be stipulated by the Bank from time to time. Extent and operation of the charge Hypothecation by way of First Charge on Company's Stocks, Book Debts to secure as a continuing security as mentioned in Column No.15 below for the repayment of Rs.448.760 Millions together with interest, costs, charges, expenses and other moneys due and payable by the Company to the Bank.
Short particulars of the property charged (Including location of the property)	Stock-in-trade, consisting of raw materials, goods in process of manufacturing finished goods, and other merchandise whatsoever being movable properties
Particulars of the present modification	The Charge shall now stand increased from Rs.389.208 Millions to Rs.448.760 Millions against the security of Stocks & Book Debts of the Company.

FIXED ASSETS

· Land

· Building

· Plant and Machinery

· Moulds

· Computer

· Office Equipments

· Fire Fighting Equipments

· Furniture and Fixture

· Cars

· Vehicles

· Air Pollution Equipments

· Testing Equipments

· Crane Escort

· Boiler Thermax

· ERP Software

· Technical Know How

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.54.96
UK Pound	1	Rs.87.10
Euro	1	Rs.70.03

INFORMATION DETAILS

Information Gathered by :	PJA
Report Prepared by :	BYI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
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	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	YES
--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		47

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.