MIRA INFORM REPORT

Report Date :

17.11.2012

IDENTIFICATION DETAILS

Name :	INDOFIL INDUSTRIES LIMITED (w.e.f. 05.10.2010)
Formerly Known As :	INDOFIL ORGANIC INDUSTRIES LIMITED
Registered Office :	Kalpataru Square, 4^th Floor, Off Andheri Kurla Road, Andheri (East), Mumbai-400 059, Maharashtra
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	09.02.1993
Com. Reg. No.:	11-070713
Capital Investment / Paid-up Capital :	Rs.179.991 Millions
CIN No.: [Company Identification No.]	U24110MH1993PLC070713
TAN No.: [Tax Deduction & Collection Account No.]	MUM107395D
PAN No.: [Permanent Account No.]	AABC14568D
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Plastic Chemicals
No. of Employees :	300 (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 9500000
Status :	Good
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a well established company having fine track. Financial position of the company appears to be good. 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 – 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	ICRA
Rating	LONG TERM FUND BASED : (ICRA) BBB+
Rating Explanation	Having moderate degree of safety regarding timely servicing of financial obligation. It carry moderate credit risk.
Date	July 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.

LOCATIONS

Registered Office :	Kalpataru Square, 4^th Floor, Off Andheri Kurla Road, Andheri (East), Mumbai-400 059, Maharashtra, India
Tel. No.:	91-22-66637373
Fax No.:	91-22-28322272
E-Mail :	indofilcs-icc@modi.com indofil@modi.com
Website :	www.indofilcc.com
Factory 1 :	Off, S. V. Road, Azad Nagar, Sandoz Baug, Thane-400607, Maharashtra, India
Tel No.:	91-22-67999100
Factory 2 :	Plot No. Z -7-1/ Z-8/6 SEZ, Dahej, Taluka Vagra, District Bharauch-392130, Gujarat, India
International Office :	C/o Geda BP SRL, Via Rosellini N.-12-20124 Milano, Italy
Tel. No.:	39-02-66823785
Fax No.:	39-02-66801328

DIRECTORS

As on: 12.09.2012

Name :

Mr. Krishan Kumar Modi

Designation :

Director

Address :

A- 1, Maharani Bagh, New Delhi-110065, India

Date of Birth/Age :

27.08.1940

Date of Appointment :

01.03.2012

Voter ID No.:

DKY 1289875

DIN No.:

00029407

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	L65993UP1965PLC003082	MODIPON LIMITED	Director	19-08-65	19-08-65	25-01-07	Active	NO
2	L15429UP1932PLC000469	MODI INDUSTRIES LIMITED	Director	30-04-70	30-04-70	-	Active	NO
3	L17111UP1946PLC001428	MODI SPINNING AND WEAVING MILLS COMPANY LIMITED	Director	12-02-76	12-02-76	-	Active	NO
4	L16004MH1936PLC008587	GODFREY PHILLIPS INDIA LMITED	Managing director	14-08-12	05-11-79	-	Active	NO
5	U65101DL1992PTC049846	K K MODI INVESTMENT AND FINANCIAL SERVICES PRIVATE LIMITED	Director	05-08-92	05-08-92	-	Active	NO
6	U74900DL1993PLC051770	MODICARE SALES AND SERVICES LIMITED	Director	18-01-93	18-01-93	-	Strike off	NO
7	U74899DL1993PLC051769	HOME COMMUNICATION NETWORK LIMITED	Director	18-01-93	18-01-93	01-03-02	Active	NO
8	U24110MH1993PLC070713	INDOFIL INDUSTRIES LIMITED	Managing director	01-03-12	09-02-93	-	Active	NO
9	U51900MH1994PTC078793	W D CONSUMER PRODUCTS PRIVATE LIMITED	Director	06-06-94	06-06-94	-	Strike off	NO
10	U74899DL1995PLC064964	MODI ENTERTAINMENT LIMITED	Director	02-02-95	02-02-95	-	Active	NO
11	U74899DL1995PLC072562	INDIAN CRICKET LEAGUE LIMITED	Director	19-09-95	19-09-95	-	Active	NO
12	U92100MH1995PTC093949	MODI NEW WORLD INDIA PRIVATE LIMITED	Director	26-10-95	26-10-95	-	Active	NO
13	U92110MH1997PTC104951	MODI FILMS ENTERPRISES PRIVATE LIMITED	Director	08-01-97	08-01-97	-	Strike off	NO
14	U92113DL1997PTC085957	MODI ENTERTAINERS NETWORKS PVT LTD	Director	19-03-97	19-03-97	-	Strike off	NO
15	U74899DL1994PLC060724	MODI REACH FINANCE AND INVESTMENT (INDIA) LIMITED	Director	27-08-97	27-08-97	-	Active	NO
16	U67120DL1979PTC114042	INDO EURO INVESTMENT COMPANY PRIVATE LIMITED	Director	18-03-00	18-03-00	-	Active	NO
17	U72200DL1973PLC110617	MODI CARE LIMITED	Director	18-03-00	18-03-00	-	Active	NO
18	U29309DL1983PLC016948	MODERN HOME CARE PRODUCTS LIMITED	Director	30-03-00	30-03-00	-	Active	NO
19	U67120UP1980PTC004955	TOUCH WOOD INVESTMENT PRIVATE LIMITED	Director	25-05-00	25-05-00	-	Active	NO
20	U74899DL2000PLC106938	MEN INTERACTIVE NETWORK LIMITED	Director	24-07-00	24-07-00	-	Active	NO
21	U72900MH2000PTC129737	JUNIORBUZZ.COM INDIA PRIVATE LIMITED	Director	24-11-00	24-11-00	-	Strike off	NO
22	U72200MH2000PTC124841	CRICLIVE COM INDIA PRIVATE LIMITED	Director	31-08-01	31-08-01	-	Active	NO
23	U80302DL2001PTC113471	MODI APOLLO INTERNATIONAL GROUP PRIVATE LIMITED	Director	14-12-01	14-12-01	-	Active	NO
24	U74140MH2001PTC132192	MARKETING AND BRAND SOLUTIONS (INDIA) PRIVATE LIMITED	Director	04-07-03	04-07-03	-	Amalgamated	NO
25	U24297UP1992PTC014505	AMBER CHEMICALS PRIVATE LIMITED	Director	27-11-04	27-11-04	-	Active	NO
26	L51909DL1985PLC021077	PREMIUM MERCHANTS LIMITED	Director	27-04-05	27-04-05	-	Active	NO
27	U74999DL1996PTC080090	KKM MANAGEMENT CENTRE PRIVATE LIMITED	Director	19-07-05	19-07-05	04-11-10	Active	NO
28	U72200DL2006PTC152685	EUROPOWER TECHNO-SYSTEMS PRIVATE LIMITED	Director	29-08-06	29-08-06	-	Strike off	NO
29	U65993DL1979PLC010060	GOOD INVESTMENTS(INDIA)LTD.	Director	10-08-07	07-03-07	-	Active	NO
30	U80903DL2009PTC196740	MODI ATI EDUCATION PRIVATE LIMITED	Director	23-01-10	08-12-09	-	Active	NO
31	U74999MH2007PTC168696	DORUKA DESIGNS PRIVATE LIMITED	Director	14-05-10	14-05-10	-	Active	NO
32	U92132MH2001PTC134159	FASHION TELEVISION INDIA PRIVATE LIMITED	Director	27-03-11	27-03-11	-	Active	NO
33	U92100MH2005PTC155785	VOYAGES ENTERTAINMENT PRIVATE LIMITED	Director	27-03-11	27-03-11	-	Active	NO
34	U24233GJ2011PTC065293	INDO BAIJIN CHEMICALS PRIVATE LIMITED	Additional director	30-05-11	30-05-11	-	Active	NO

Name :

Mr. Charu Bhartia

Designation :

Whole-time director

Address :

A- 1, Maharani Bagh, New Delhi-110 065, India

Date of Birth/Age :

28.10.1962

Date of Appointment :

01.04.2009

DIN No.:

00029625

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	U67120UP1980PTC004955	TOUCH WOOD INVESTMENT PRIVATE LIMITED	Director	09-08-82	09-08-82	-	Active	NO
2	U67120DL1979PTC114042	INDO EURO INVESTMENT COMPANY PRIVATE LIMITED	Director	18-03-00	18-03-00	-	Active	NO
3	U72200DL1973PLC110617	MODI CARE LIMITED	Director	18-03-00	18-03-00	-	Active	NO
4	U74899DL1995PLC064964	MODI ENTERTAINMENT LIMITED	Director	29-03-00	29-03-00	-	Active	NO
5	U29309DL1983PLC016948	MODERN HOME CARE PRODUCTS LIMITED	Director	30-03-00	30-03-00	-	Active	NO
6	U74899DL1994PLC060724	MODI REACH FINANCE AND INVESTMENT (INDIA) LIMITED	Director	30-03-00	30-03-00	-	Active	NO
7	U74899DL2000PLC106938	MEN INTERACTIVE NETWORK LIMITED	Director	07-08-00	07-08-00	-	Active	NO
8	U74999DL2001PTC113262	MODI HEALTHCARE PLACEMENT INDIA PRIVATE LIMITED	Director	23-11-01	23-11-01	16-07-07	Active	NO
9	U80302DL2001PTC113471	MODI APOLLO INTERNATIONAL GROUP PRIVATE LIMITED	Managing director	14-12-01	14-12-01	-	Active	NO
10	U65993DL2001PTC113464	CHARU INVESTMENTS PRIVATE LIMITED	Director	28-12-01	28-12-01	-	Active	NO
11	U24110MH1993PLC070713	INDOFIL INDUSTRIES LIMITED	Whole-time director	01-04-09	27-07-02	-	Active	NO
12	U74140MH2001PTC132192	MARKETING AND BRAND SOLUTIONS (INDIA) PRIVATE LIMITED	Director	04-07-03	04-07-03	-	Amalgamated	NO
13	U74999DL1996PTC080090	KKM MANAGEMENT CENTRE PRIVATE LIMITED	Director	19-07-05	19-07-05	14-12-10	Active	NO
14	L65993UP1965PLC003082	MODIPON LIMITED	Director	01-08-05	01-08-05	25-01-07	Active	NO
15	U65101DL1992PTC049846	K K MODI INVESTMENT AND FINANCIAL SERVICES PRIVATE LIMITED	Director	30-09-08	11-03-08	-	Active	NO
16	U80903DL2009PTC196740	MODI ATI EDUCATION PRIVATE LIMITED	Director	30-05-11	23-01-10	-	Active	NO

Name :

Mr. Jayaraman Ramachandran

Designation :

Director

Address :

417, Faculty Quarters, Indian Institute of Management, Bannerghatta, Bangalore-560076, Karnataka, India

Date of Birth/Age :

01.06.1957

Date of Appointment :

17.08.2007

DIN No.:

00004593

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	U74300KA1998PTC024546	INTEGRATED BRAND.COMM. PRIVATE LIMITED	Director	18-12-98	18-12-98	28-06-12	Active	NO
2	U85110MH1998PLC226134	INDUS-LEAGUE CLOTHING LIMITED	Director	17-04-99	17-04-99	15-02-08	Active	NO
3	L72100KA1989PLC014226	SASKEN COMMUNICATION TECHNOLOGIES LIMITED	Director	15-06-00	15-06-00	-	Active	NO
4	U51397DL2005PTC190519	LIFETIME HEALTHCARE PRIVATE LIMITED	Director	01-04-05	01-04-05	21-11-08	Amalgamated	NO
5	U64203MH1997PLC166329	RELIANCE COMMUNICATIONS INFRASTRUCTURE LIMITED	Director	26-06-05	26-06-05	16-08-10	Active	NO
6	U40101KA1986PLC007404	BHORUKA POWER CORPORATION LIMITED	Director	08-12-05	08-12-05	-	Active	NO
7	L45309MH2004PLC147531	RELIANCE COMMUNICATIONS LIMITED	Director	17-07-07	07-02-06	-	Active	NO
8	L52599TN1961PLC028758	REDINGTON (INDIA) LIMITED	Director	21-11-06	21-11-06	-	Active	NO
9	U24239MH2001PTC131153	ACCUTEST RESEARCH LABORATORIES INDIA PRIVATE LIMITED	Director	31-10-07	12-12-06	12-03-08	Active	NO
10	U24110MH1993PLC070713	INDOFIL INDUSTRIES LIMITED	Director	17-08-07	06-04-07	-	Active	NO
11	U72900KA2000PLC026980	TEJAS NETWORKS LIMITED	Director	03-08-07	26-04-07	21-06-12	Active	NO
12	U35204KA1996PTC020766	ADITYA AUTO PRODUCTS AND ENGINEERING (INDIA) PVT LTD	Director	30-09-08	30-09-08	-	Active	NO
13	L72200AP1991PLC013134	INFOTECH ENTERPRISES LIMITED	Director	01-07-09	17-11-08	18-07-12	Active	NO
14	U65999TN2005PLC069447	EASYACCESS FINANCIAL SERVICES LIMITED	Director	16-06-10	21-05-10	-	Active	NO
15	U67190KA2000PTC043651	AQUARIUS INVESTMENT ADVISORS (INDIA) PRIVATE LIMITED	Additional director	24-10-12	24-10-12	-	Active	NO

Name :

Mr. Mahendra Naranji Thakkar

Designation :

Director

Address :

133/134, Chandramani, 7^th Floor, Telang X Road No.3, Matunga, Mumbai-400019, Maharashtra, India

Date of Birth/Age :

17.10.1941

Date of Appointment :

17.08.2007

DIN No.:

00268818

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	U27310AP1985PLC005423	SAMKRG PISTONS AND RINGS LIMITED	Director	06-11-98	06-11-98	-	Active	NO
2	U24110MH1993PLC070713	INDOFIL INDUSTRIES LIMITED	Director	17-08-07	06-04-07	-	Active	NO
3	L24230MH1984PLC034771	BLISS GVS PHARMA LIMITED	Director	31-07-07	31-07-07	31-01-11	Active	NO
4	L85110KA1986PLC008020	BANGALORE SOFTSELL LIMITED	Director	30-09-08	29-10-07	-	Active	NO
5	U99999MH1964PLC012913	HALDYN CORPORATION LIMITED	Director	29-09-12	30-05-12	-	Active	NO

Name :

Mr. Sunil Kumar Alagh

Designation :

Director

Address :

12 C, IL Palazzo, Little GIBBS Road, Malabar Hill, Mumbai-400006, Maharashtra, India

Date of Birth/Age :

06.11.1946

Date of Appointment :

17.08.2007

DIN No.:

00103320

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	U74999MH2003PTC142685	SKA ADVISORS PRIVATE LIMITED	Director	15-10-03	15-10-03	-	Active	NO
2	L63011AP1995PLC020121	GATI LIMITED	Director	22-04-04	22-04-04	-	Active	NO
3	L36999KA1999PLC025195	UNITED BREWERIES LIMITED	Director	29-04-05	29-04-05	-	Active	NO
4	U67190MH2004PTC146677	TAMARA CAPITAL ADVISORS PRIVATE LIMITED	Director	30-04-05	30-04-05	29-12-10	Active	NO
5	U67120MH1997PLC110386	HSBC INVESTDIRECT (INDIA) LIMITED	Director	25-07-06	11-10-05	29-09-08	Active	NO
6	U72900DL2006PTC144396	EON PREMEDIA PRIVATE LIMITED	Director	10-08-06	10-08-06	14-01-11	Active	NO
7	U15421RJ1945SGC000285	RAJASTHAN STATE GANGANAGAR SUGAR MILLS LTD	Director	11-09-06	11-09-06	24-12-08	Active	NO
8	U24110MH1993PLC070713	INDOFIL INDUSTRIES LIMITED	Director	17-08-07	06-04-07	-	Active	NO
9	U60232AP2008PLC057692	GATI IMPORT EXPORT TRADING LIMITED	Director	09-12-11	28-12-10	-	Active	NO

Name :

Mr. Munesh Khanna

Designation :

Director

Address :

Beachwood House, Ground Floor, Jussawala Wadi, Juhu, Mumbai - 400049, Maharashtra, India

Date of Birth/Age :

12.05.1962

Date of Appointment :

17.08.2007

DIN No.:

00202521

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	U24110MH1993PLC070713	INDOFIL INDUSTRIES LIMITED	Director	17-08-07	06-04-07	-	Active	NO
2	U51909MH2007PTC170716	LEADING AGE TRADING PRIVATE LIMITED	Director	01-09-07	01-09-07	01-09-07	Active	NO
3	L17119GJ1931PLC000093	ARVIND LIMITED	Director	31-07-08	27-10-07	-	Active	NO
4	U67120MH1995PTC084237	CAPTION INVESTMENTS AND TRADING COMPANY PRIVATE LIMITED	Director	01-11-07	01-11-07	-	Active	NO
5	U65910GJ1993PLC020228	EDELWEISS FINANCIAL ADVISORS LIMITED	Director	29-09-08	19-02-08	25-05-09	Active	NO
6	U45400MH2007PTC175585	YOUTH PROPERTIES PRIVATE LIMITED	Director	15-03-08	15-03-08	-	Active	YES
7	U24130MH1994PLC142451	GARWARE BESTRETCH LIMITED	Additional director	17-11-08	17-11-08	25-03-09	Active	NO
8	U17113MH1975PLC018620	GARWARE ELASTOMERICS LIMITED	Additional director	17-11-08	17-11-08	25-03-09	Active	NO
9	U65999MH2009PTC189564	RESONUS ADVISORS PRIVATE LIMITED	Director	14-01-09	14-01-09	-	Active	NO
10	U18101GJ2007PLC050217	ARVIND RETAIL LIMITED	Director	24-09-10	31-10-09	-	Active	NO
11	U64201GJ1995PLC024598	ARVIND LIFESTYLE BRANDS LIMITED	Director	24-09-10	31-10-09	-	Active	NO
12	U65999MH2010FTC208856	ASHMORE-CENTRUM INDIA OPPORTUNITIES INVESTMENT ADVISERS PRIVATE LIMITED	Director	11-10-10	11-10-10	-	Active	NO
13	U85191MH2011NPL216343	SOLUTIONS INDIA FOR SOCIAL DEVELOPMENT	Director	16-04-11	16-04-11	-	Active	NO

Name :

Mr. Sanjay Ramakant Buch

Designation :

Director appointed in casual vacancy

Address :

7/31, Bandra Sona Housing Complex, Krishnachandra Marg, Bandra (West), Mumbai-400050, Maharashtra, India

Date of Birth/Age :

26.09.1968

Date of Appointment :

11.08.2009

DIN No.:

00391436

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	U24246AP1989PTC010416	SS ORAL HYGIENE PRODUCTS PRIVATE LIMITED	Director	03-12-99	03-12-99	-	Amalgamated	NO
2	L99999MH1951PLC008485	DIL LIMITED	Director	14-09-07	28-04-07	-	Active	NO
3	U99999MH1993PTC074256	AGFA INDIA PRIVATE LIMITED	Director	27-11-08	07-04-08	18-01-10	Amalgamated	NO
4	U72900MH2008FTC186575	EMHART TEKNOLOGIES (INDIA) PRIVATE LIMITED	Director	09-09-08	09-09-08	16-09-10	Active	NO
5	U31409KA2008FTC047837	BLACK & DECKER INDIA PRIVATE LIMITED	Director	23-09-08	23-09-08	18-01-10	Active	NO
6	U24110MH1993PLC070713	INDOFIL INDUSTRIES LIMITED	Director appointed in casual vacancy	11-08-09	11-08-09	-	Active	NO
7	U63090MH1983PTC161369	TRANSWAYS COMBINES PRIVATE LIMITED (TRF.)	Additional director	29-08-09	29-08-09	30-09-09	Active	NO
8	U99999MH1986PLC134021	FERMENTA BIOTECH LIMITED	Director	27-09-10	22-01-10	-	Active	NO
9	U93000MH2010FTC211208	SEALCOM INDIA PRIVATE LIMITED	Director	22-12-10	22-12-10	-	Under Process of Striking off	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

SHAREHOLDING DETAILS FILE ATTACHED

Equity Share Break up (Percentage of Total Equity)

As on: 12.09.2012

Equity Share Breakup	Percentage of Holding
Category
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	12.19
Bodies corporate	63.50
Directors or relatives of directors	2.46
Other top fifty shareholders	3.02
Others	7.88
Government companies	9.50
Public financial companies	1.44
Mutual funds	0.01
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Plastic Chemicals

Products :

Product Description	Item Code No. (ITC Code)
Pesticides	3808
Acrylic Emulsion	3906

PRODUCTION STATUS [AS ON 31.03.2011]

Particulars	Unit	Installed Capacity	Actual Production
Technicals ***	MT/KL	47000****	25576
Formulations	MT/KL	14540	7487
S and P Chemicals	MT/KL	13200	14023
Other Chemical Purchased	MT/KL	--	1283.00

NOTE:

*** The Installed capacities are as per the certificate given by the Management of the Company on which auditors have relied.

**** This Capacity includes Dahej Production capacity which commenced its commercial production in October 2010

GENERAL INFORMATION

No. of Employees :

300 (Approximately)

Bankers :

· Export Import Bank Of India, Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India

· The Shamrao Vithal Cooperative Bank Limited, SVC Tower, Nehru Road, Vakola, Santacruz (E), Mumbai - 400055, Maharashtra, India

· Bank of Bahrain & Kuwait BSC 225, Jolly Maker Chambers Ii, Nariman Point, Mumbai - 400099, Maharashtra, India

· Development Credit Bank Limited, 301, Trade Plaza, Veer Savarkar Marg, Prabhadevi, Mumbai - 400025, Maharashtra, India

· L and T Finance Limited, L and T House, Ballard Estate, Mumbai - 400001, Maharashtra, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2011 [Rs. in Millions]	As on 31.03.2010 [Rs. in Millions]
Rupee term loans banks secured	657.660(A)	659.492
Rupee term loans financial institutions secured	161.000(B)	207.000
Rupee term loans others secured	29.649	28.306
Foreign currency loans banks secured	332.264(C)	113.325
Working capital loans banks secured	1957.493(D)	978.458
Total	3138.066	1986.581
NOTE: (A) Development Credit Bank Limited 180.00 (Repayable within one year Rs 18.000 Millions. P.Y Rs 18.000 Millions) Union Bank of India- Indian Currency Loan Rs.80.994 Millions. (Repayable within one year Rs 40.994 Millions. P.Y Rs 40.000 Millions) Shamrao Vithal Co-Operative Bank Limited Rs.166.025 (Repayable within one year Rs. 41.090 Millions. P.Y 37.500 Millions ) (Above all loans are Secured by a first charge of Company's fixed assets, and second charge on current assets and other movable assets, both present and future inter se the consortium Bankers.) Standard Chartered Bank PLC Rs.276.788 (Repayable within one year Rs. 21.033 Millions. P.Y 18.045 Millions) (Secured by Specific Assets Financed) HDFC Bank Limited. Rs.115.853 Millions (Repayable within one year Rs.7.710 Millions. P.Y NIL) (Secured by Specific Assets Financed) (B) SICOM Limited Rs.161.000 Millions (Repayable within one year Rs 64.000 Millions. P.Y Rs 46.000 Millions) (Above all loans are Secured by a first charge of Company's fixed assets, and second charge on current assets and other movable assets, both present and future inter se the consortium Bankers.) (C) Union Bank of India - Foreign Currency Loan Rs.84.900 Millions (Repayable within one year Rs. 28.750 Millions. P.Y 28.331 Millions) Baeclays Bank PLC-Foreign Currency Loan 2,473.64 (Repayable within one year Rs. NIL Millions. P.Y NIL ) (Above all loans are Secured by a first charge of Company's fixed assets, and second charge on current assets and other movable assets, both present and future inter se the consortium Bankers.) (D) Cash Credit/Working Capital Demand Loan (Secured by a first pari passu charge, by way of hypothecation of Company's current assets and other movable assets and second pari passu charge on the fixed assets both present and future, inter se the Term Lenders.)
Unsecured Loan
Rupee term loans financial institutions unsecured	7.000	7.000
Total	7.000	7.000

Banking Relations :	--
Auditors :
Name :	M. M. Bilimoria and Company Chartered Accountants
Address :	101 Sharda Chambers, Sir Vithaldas Thackersey Marg, Mumbai-400030, Maharashtra, India
PAN No.:	AABPB3927E
Holding Company:	Modipon Limited CIN No.: L65993UP1965PLC003082
Subsidiaries :	· Good investment India Limited, India CIN No.: U65993DL1979PLC010060 · Quick Investment India Limited , India CIN No.: U65993DL1979PLC010018
Promoter Group Companies:	· Godfrey Philips India Limited CIN No.: LI6004MH1936PLC008587 · HMA Udyog Private Limited CIN No.: U36999DL1981PTC011548 · Modi Care Limited CIN No.: U72200DL1973PLC110617 · Modi Entertainment Limited CIN No.: U74899DL1995PLC064964 · Beacon Travels Limited CIN No.: U74899DL1988PTC030391 · K. K. Modi Investment and Financial Services Private Limited CIN No.: U65101DL1992PTC049846 · Bina Fashions N Food Private Limited CIN No.: U51311DL1999PTC099509 · Premium Merchants limited CIN No.: L51909DL1985PLC021077
Associates:	HIFIL Chemicals Private Limited CIN No.: U24100MH2009PTC198057

CAPITAL STRUCTURE

As on: 12.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
44000000	Equity Shares	Rs.10/- each	Rs. 440.000 Millions
600000	Preference Shares	Rs.100/- each	Rs. 60.000 Millions
	Total		Rs. 500.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
20662400	Equity Shares	Rs.10/- each	Rs. 206.624 Millions

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
44000000	Equity Shares	Rs.10/- each	Rs. 440.000 Millions
660000	6% Non Cumulative Redeemable Preference Shares	Rs.100/- each	Rs. 60.000 Millions
	Total		Rs. 500.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
11807086	Equity Shares	Rs.10/- each	Rs. 118.070 Millions
8855314		Rs.10/- each	Rs. 88.553 Millions
Less	Calls unpaid (Second call Rs. 3/-per share)	Rs.3/- per share	Rs. (3.872 Million)
Less	Calls in Arrears (First call Rs. 3/-per share)	Rs.3/- per share	Rs. (0.010 Million)
	Total		Rs. 202.741 Millions

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
44000000	Equity Shares	Rs.10/- each	Rs.440.000 Millions
600000	Preferences Shares	Rs.100/- each	Rs.60.000 Millions
	Total		Rs.500.000 Millions

Issued, Subscribed & Paid-up Capital: Rs.179.991 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		179.991	153.492	153.492
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		2207.203	1679.743	1046.678
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		2387.194	1833.235	1200.170
LOAN FUNDS
1] Secured Loans		3138.066	1986.581	1789.792
2] Unsecured Loans		7.000	7.000	7.000
TOTAL BORROWING		3145.066	1993.581	1796.792
DEFERRED TAX LIABILITIES		126.005	97.890	68.146
TOTAL		5658.265	3924.706	3065.108
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2280.048	1751.719	319.988
Capital work-in-progress		652.761	353.415	579.161
INVESTMENT		223.183	219.801	219.752
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1856.919	1297.037	821.303
	Sundry Debtors	2393.295	1775.328	1905.386
	Cash & Bank Balances	15.584	18.680	36.522
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	416.421	310.010	308.662
Total Current Assets		4682.219	3401.055	3071.873
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1075.123	889.973	660.091
	Other Current Liabilities	992.121	802.798	321.957
	Provisions	112.702	108.513	143.618
Total Current Liabilities		2179.946	1801.284	1125.666
Net Current Assets		2502.273	1599.771	1946.207
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		5658.265	3924.706	3065.108

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	8368.797	7064.448	5973.112
		Other Income	92.099	113.977	112.412
		TOTAL (A)	8460.896	7178.425	6085.524
Less	EXPENSES
		Consumption Materials Changes Inventories	4904.987	3560.350
		Manufacturing Service Costs	458.605	413.022	5317.866
		Employee Related Expenses	624.176	484.671
		Administrative Selling Other Expenses	1536.533	1329.715
		TOTAL (B)	7524.301	5787.758	5317.866
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		936.595	1390.667	767.658
Less	FINANCIAL EXPENSES (D)		329.688	271.917	195.914
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		606.907	1118.750	571.744
Less/ Add	DEPRECIATION/ AMORTISATION (F)		157.902	115.499	48.156
	PROFIT BEFORE TAX (E-F) (G)		449.005	1003.251	523.588
Less	TAX (H)		43.266	316.313	196.132
	PROFIT AFTER TAX (G-H) (I)		405.739	686.938	327.456
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		964.704	400.333	185.803
Less	APPROPRIATIONS
		Transfer to General Reserve	40.574	68.694	32.750
		Dividend on Shares	47.270	46.047	25.109
		Tax on Dividend	7.668	7.826	4.267
		Capital Redemption Reserve	0.000	0.000	50.800
	BALANCE CARRIED TO THE B/S		1274.931	964.704	400.333
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	2632.071	2825.729	2216.162
	IMPORTS
		Raw Materials	2507.905	1239.832	1538.864
		Stores & Spares	0.420	1.095	0.888
		Capital Goods	24.732	85.671	0.839
	TOTAL IMPORTS		2533.057	1326.598	1540.591
	Earnings Per Share (Rs.)		25.75	44.75	26.06

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	4.80	9.57	5.38
Net Profit Margin (PBT/Sales)	(%)	5.37	14.20	8.77
Return on Total Assets (PBT/Total Assets}	(%)	6.45	19.47	15.44
Return on Investment (ROI) (PBT/Networth)		0.19	0.55	0.44
Debt Equity Ratio (Total Liability/Networth)		2.23	2.07	2.44
Current Ratio (Current Asset/Current Liability)		2.15	1.89	2.73

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	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 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	No
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	Yes
34]	External Agency Rating, if available	Yes

NOTE:

The registered address of the company Nirlon House, Dr. Annie Besant Road, Worli, Mumbai – 400025, Maharashtra, India has been shifted to the present address w.e.f. 01.10.2010

OPERATION:

Production of Agrochemicals Division for the year has been 33,063 MT as against 30,426 MT in the previous year and sales have been 32,924 MT against 27,798 MT. in the previous year.

In case of Specialty Chemicals Division, the production has been 14,023 MT as against 11,086 MT in the previous year and the sales have been 14,558 MT against 11,406 MT.s in the previous year.

EXPORTS

The Company made exports worth Rs 2632.071 Millions against Rs. 2825.729 Millions in the previous year. Unfavourable climate in the Eurozone and appreciating rupee impacted exports during the year. The Company has initiated special steps to enhance exports of both its Agrochemicals and Specialty and Performance Chemicals Divisions.

CAPACITY EXPANSION AND JOINT VENTURES

During the year, commercial production at the Plant at SEZ Dahej was started successfuly. Keeping in view the increasing international demand and focus, the additional line for Mancozeb was commissioned at Dahej which would help well in supplementing the demand gap.

This additional facility has helped the company to increase the production capacity from 18,000 M.T.s to 30,000 M.T.s per annum. The process cost for manufacturing Mancozeb has also been reduced significantly. The Dahej plant will be able to meet the total requirement of Mancozeb for the year ending FY 2012 for the international markets.

The total investment of Rs. 1258.200 Millions in Dahej plant is expected to be paid back in 3.5 years. This plant is another landmark in company’s journey towards manufacturing excellence, quality and efficiency.

JOINT VENTURE WITH HISUN (HIFIL)

Indofil’s joint venture with Hisun is already progressing well with the objective of registering exclusive import of agrochemicals and distribution of formulations by the Company. Data generation for registration is in progress.

JOINT VENTURE WITH SHANGHAI BAIJIN CHEMICAL GROUP CO. (SBC), CHINA FOR CS2

The Company has, as part of backward integration strategy, entered into a landmark Joint Venture agreement with Shanghai Baijin Chemicals Group Company Limited (SBC), China wherein Company holds 51% of the equity, to manufacture Carbon-Di-Sulphide (CS2).The Joint Venture will manufacture 50,000 MT/annum of CS2 by using Natural Gas (NG) as a raw material, at Dahej SEZ area in Gujarat, India. Dahej SEZ (Gujarat) is setting-up world class infrastructure and is ranked among top ten SEZ in world by FT, London. This CS2 manufacturing plant will be our first Green Technology plant, the first of its kind in India. The technology and knowhow supplier for this plant shall be SBC. Till now all the existing CS2 plants in India were based on the old coal based technology, which has a large impact on the environment. Coal consumption for the existing CS2 plants in India is around 350 kgs per ton of CS2 produced. The implementation of this project shall ensure that around 1000 kgs of wood shall be saved per ton of CS2 produced. This implies that a deforestation of 58 sq. kms. per annum shall be avoided by this project. Therefore this project is a “Green Technology” project as it is an attempt at reducing deforestation in the country. There is no chemical contaminated waste-water discharge from this plant. Hence the pollution load of waste water is also negligible. Thus the overall environment impact of this technology is negligible when compared to the existing CS2 plants in India based on the coal route. Outlet gases to atmosphere will contain below 3 kgs /Ton of SRU feed (against existing std of 10 kgs). The project viability of the JV Company is secured by a Purchase agreement with the company for a minimum period of 15 years from the start of production, for 50% of plant’s capacity. The balance quantity shall easily be sold to other consumers, like fibre, rubber and agrochemical units based within 300 km in Gujarat and Maharashtra. The two raw materials for the project, viz. Natural Gas and Sulphur (molten) shall be supplied by GSPC (Gujarat State Petroleum Corporation) by their dedicated pipeline and Indian Oil Refinery at Vadodara, respectively to the plant. This Joint venture will not only enable the company to become self sufficient in CS2 production and eliminate the import of CS2, but also help the company save a significant amount of foreign exchange. This CS2 manufacturing technology which is based on Natural Gas as feedstock will help the company in lowering cost of production of Mancozeb, saving significant energy cost, rendering environment cleaner and greener, attaining more efficiency vis-à-vis the existing CS2 manufacturing companies in India. This Joint Venture with SBC is a unique landmark in terms of manufacturing technology and efficiency. It will take the company to new heights of production excellence.

INDUSTRY STRUCTURE AND DEVELOPMENT

The agricultural input sector is on a long-term growth strategy riding on continuous increase in food grain requirement due to static growth in world population. Improving income levels, increasing urbanization and demand for balanced nutrition has further led to a spiralling demand for food grains.

The global agrochemical industry experienced a growth of 1.2 % in 2010 in comparison with previous year. However in contrast to the global trends, Indian agrochemical industry recorded a positive growth of around 15% mainly driven by new chemistries. The year saw fluctuating climatic conditions and pest problems. Multiple cyclones in major states like Andhra Pradesh resulted in loss of crop produce. Sudden outbreaks of pests like cotton whitefly resulted in unprecedented sales of specialty molecules. Prolonged rainy days coupled with insufficient availability of labour led to heavy use of herbicides. Climatic conditions resulted in heavy attack of Choanephora blight disease in chili, which again led to huge usage of specialty fungicides viz. Strobilurins.

OUTLOOK

The outlook for the crop protection market in 2011 appears to be far more positive than 2010 due to low crop stocks and strong crop commodity prices. The initial monsoon forecast suggests that the monsoon will be normal, well spread and on time. This will continue to boost the morale of the farmers and would encourage them to use more inputs for productivity improvement.

The company continues to consolidate its position by focusing on development of products with in-house RandD and procuring distribution rights from multinationals and other research based companies. Growth prospects in domestic market (branded/bulk and packaged) and in export range are good. Mancozeb revenues will be up with commissioning of Mancozeb WP second line and stabilization of Mancozeb WG facilities. The decision to defend Myclobutanil in EU and entry in to US market with Mancozeb will further strengthen our presence in global market. Cymoxanil registration is also progressing well in EU, which will expand the core by way of introduction of various formulations based on mixtures.

SPECIALITY AND PERFORMANCE CHEMICALS DIVISION

Specialty and Performance Chemicals Division comprising the five distinct Strategic Business Units (SBU) i.e. Leather, Textile, Coatings, Plastic and Construction has been growing and the company has been looking for more associations in these segments. They have a comprehensive range of textile chemicals and auxiliaries which includes a Textile printing package provider for Textile printing and Coating Industries. This consists of Binders, Synthetic Thickeners, Rheology Modifiers, Formaldehyde and Non-Formaldehyde based cross linking agents i.e., Fixers, Polyurethanes and hybrids mainly for textile and synthetic leather cloth application. They have collaboration in the Leather segment with Chemtan Chemical Inc., USA a leader in waterproofing systems in leather and a similar collaboration with Quaker Color, USA for upgradation systems of leather Chemicals. The Coating business addresses the need of water based paints, ink and specialty coatings industry by offering various emulsions in the range of acrylic, styrene acrylic and modified acrylic range, dispersing agents, rhehology modifiers and specialty coatings. This range has been well accepted in domestic and international market due to its performance and SPCD has been working on the further increase in its portfolio in this segment. In plastic business they serve the PVC processing industry by offering range of acrylic processing aid, impact modifier, heat stabilizers and plasticizers. Indofil is the only manufacturer of acrylic processing aid and impact modifier in India and its product performance is well accepted. They do have strategic partnership with Galata Chemicals USA for tin stabilizers, KIMFLOR – Turkey for Ca-Zn stabilizers, Sechang – Korea for hydrotalcite-stabilzer range to serve the PVC processing industry as one-stop shop. In constructions segment cement mortar modifier of subject is one of the most widely accepted and acknowledged products by the Industry due to its performance in the area of water proofing for new constructions and construction in repairs and rehabilitation.

NEW PRODUCTS

In every segment they will be launching various value added products such as – new range of fat liquors and syntans in Leather, high performance PU coatings in Textile, range of heat stabilizers, acrylic processing aid and impact modifier in plastic segment and high solid dispersing agent in coating segment. The company will soon introduce Redisposable Polymer Powder and establish a footprint in the rapidly growing construction chemical market.

SUBSIDIARY COMPANIES

The Reports and Accounts of the Company’s wholly-owned Subsidiary Companies, namely, Quick Investment (India) Limited, New Delhi and Good Investment (India) Limited, New Delhi for the year ended 31st March, 2011 along with the statement under Section 212 (1), (3) and (5) of The Companies Act, 1956

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U24110MH1993PLC070713
Name of the company	INDOFIL INDUSTRIES LIMITED
Address of the registered office or of the principal place of business in India of the company	Kalpataru Square, 4th Floor, Off Andheri Kurla Road, Andheri (East), Mumbai – 400059, Maharashtra, India Email Id : indofilcs-icc@modi.com
This form is for	Creation of charge
Type of charge	Immovable property Book debts Movable property (not being pledge) Floating charge
Particular of charge holder	Bank of Bahrain and Kuwait BSC 225, Jolly Maker Chambers Ii, Nariman Point, Mumbai – 400099, Maharashtra, India mumbai@bbkindia.com
Nature of instrument creating charge	Agreement of Hypothecation of Goods and Assets
Date of instrument Creating the charge	13.09.2012
Amount secured by the charge	Rs.313.500 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Extent and operation of the charge First pari passu charge on the entire current assets of the Company, both present and future alongwith other working capital bankers
Short particulars of the property or asset(s) charged (including complete address and location of the property)	First pari passu charge on the entire current assets of the Company, both present and future alongwith other working capital bankers

FIXED ASSETS:

· Land - Freehold

· Land – Leasehold

· Factory Buildings

· Non – Factory Buildings

· Plant and Machinery

· Other Plant Equipment

· Furniture and Fixture

· Vehicles

· Office and Other Equipment

INDOFIL FORMS JOINT VENTURE WITH CHINESE CHEMICALS COMPANY

Virendra Pandit

Gandhinagar, March 22:

The Rs 50000.000 Millions K.K. Modi Group Company Indofil Industries Limited on thursday announced formation of a joint venture with Shanghai Baijin Chemical Group of China. The venture will set up a carbon di-sulphide (CS{-2}) plant at Dahej in Gujarat with an investment of $40 million (nearly Rs 2000.000 Millions).

The plant, to be set up by the 51:49 ventre, will be known as Indo Baijin Chemicals Private Limited. It will have an annual capacity to manufacture 50,000 tons of CS{-2} with an eco-friendly green technology, Mr K.K. Modi, Chairman, said here.

It will be the first of its kind plant in India, which currently imports 80 per cent of its CS{-2} requirements as raw material for various industries. Mr. Modi told Business Line that his Group has signed agreement with Chinese partners to set up five to six specialty chemicals plants at Dahej in the next few years, as patents of various products start expiring in different countries. The CS{-2} plant is the first of these proposed plants, to be set up with an estimated investment of nearly Rs 50000.000 Millions

The zero-waste plant, using natural gas as raw material, will be entitled to 25,000 tonnes of carbon credit a year and save 50,000 tonnes of wood (58 sq km of forests) annually, Mr. Modi pointed out.

Indofil has also acquired two more sites at Dahej for a 6,000-tonne agro-chemical synthesis plant and a specialty chemicals plant with an investment of nearly Rs 6000.000 Millions

Indofil had bought out trademarks and businesses of Dow Agrocide in Europe a couple of years ago. The company has set up a Rs 5000.000 Millions facility to manufacture these trademarked products at Dahej, which will start production in October.

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. 54.99
UK Pound	1	Rs. 87.21
Euro	1	Rs. 70.22

INFORMATION DETAILS

Report Prepared by :

UDS

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	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--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		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.