MIRA INFORM REPORT

1. Summary Information

		Country	India
Company Name	LOKMAT MEDIA PRIVATE LIMITED	Principal Name 1	Mr. Vijay Jawaharlal Darda
Status	Good	Principal Name 2	Mr. Devendra Vijay Darda
		Registration #	11-16613
Street Address	Mittal Tower, `B’ Wing, 12^th Floor, Nariman Point, Mumbai – 400021, Maharashtra, India
Established Date	21.06.1973	SIC Code	--
Telephone#	91-22-22856749 (4 Lines)/ 22028211/ 25856749/ 24820000	Business Style 1	Printing
Fax #	91-22-22028211/ 24820010	Business Style 2	Publishing
Homepage	www.lokmat.com	Product Name 1	Newspapers
# of employees	100 (Approximately)	Product Name 2	--
Paid up capital	Rs.414,872,000/-	Product Name 3	--
Shareholders	Directors or relatives of Directors – 100%	Banking	Bank of India
Public Limited Corp.	No	Business Period	39 years
IPO	No	International Ins.	--
Public Enterprise	No	Rating	A (65)
Related Company
Relation	Country	Company Name	CEO
Joint Venture	--	IBN-Lokmat News Private Limited	--
Note	--

2. Summary Financial Statement

Balance Sheet as of	31.05.2011		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	2,235,083,000	Current Liabilities	538,041,000
Inventories	484,095,000	Long-term Liabilities	742,642,000
Fixed Assets	1,471,663,000	Other Liabilities	972,708,000
Deferred Assets	0,000	Total Liabilities	2,253,391,000
Invest& other Assets	630,478,000	Retained Earnings	2,153,056,000
		Net Worth	2,567,928,000
Total Assets	4,821,319,000	Total Liab. & Equity	4,821,319,000
Total Assets (Previous Year)	3,744,789,000
P/L Statement as of	31.05.2011		(Unit: Indian Rs.)
Sales	4,407,652,000	Net Profit	492,004,000
Sales(Previous yr)	3,809,610,000	Net Profit(Prev.yr)	588,947,000

MIRA INFORM REPORT

Report Date :

21.11.2012

IDENTIFICATION DETAILS

Name :	LOKMAT MEDIA PRIVATE LIMITED (w.e.f. 21.09.2010)

Formerly Known As :	LOKMAT NEWSPAPERS PRIVATE LIMITED

Registered Office :	Mittal Tower, `B’ Wing, 12^th Floor, Nariman Point, Mumbai – 400 021, Maharashtra

Country :	India

Financials (as on) :	31.05.2011

Date of Incorporation :	21.06.1973

Com. Reg. No.:	11-016613

Capital Investment / Paid-up Capital :	Rs.414.872 Millions

CIN No.: [Company Identification No.]	U99999MH1973PLC016613

Legal Form :	Private Limited Liability Company

Line of Business :	Subject is engaged in Printing and Publishing of Newspapers.

No. of Employees :	Information Denied by Management

RATING & COMMENTS

MIRA’s Rating :

A (65)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 10000000

Status :	Good

Payment Behaviour :	Regular

Litigation :	Clear

Comments :	Subject is an old and well established company engaged in printing and publishing of newspaper. Company having good financial track record. But there appears some dip in the profitability of the company as compare to previous year. However, trade relations are reported to be fair. Business is active. Payment are reported to be regular and as per commitment. 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

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	A + (Cash Credit)
Rating Explanation	Considered to have adequate degree of safety regarding timely servicing of financial obligation it carry low credit risk.
Date	January 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 :	Mittal Tower, `B’ Wing, 12^th Floor, Nariman Point, Mumbai – 400 021, Maharashtra, India
Tel. No.:	91-22-22856749 (4 Lines) / 22028211 / 25856749 / 24820000
Fax No.:	91-22-22028211 / 24820010
E-Mail :	dxd510@gmail.com
Website :	http://www.lokmat.com

Head Office :	Lokmat Bhavan, Pandit Jawaharlal Nehru Marg, P.O. No. 216, Nagpur – 440012, Maharashtra, India
Tel. No.:	91-712-2523 527 (10 lines)
Fax No.:	91-712-2526 923 / 2445555
E-mail:	lokmat@bom2.vsnl.net.in

Corporate Office :	2^nd Floor, Nirlon, A B Road, Mumbai – 400018, Maharashtra, India
Tel. No.:	91-22-24820000
Fax No.:	91-22-24820010

Business Representatives:	Located at : · Kolkata · Ahmedabad · Indore · Bhopal · Coimbatore · Lucknow · Jaipur · Baroda

Branch Office :	Located At : · Nagpur · Aurangabad · Mumbai · Pune · Kolhapur · Nashik · Solapur · Jalgaon · Akola · Ahmednagar

DIRECTORS

As on 28.11.2011

Name :

Mr. Vijay Jawaharlal Darda

Designation :

Whole Time Director

Address :

‘Yavatmal House’, Rahate Colony, Pt. J.N. Marg, Nagpur, Maharashtra, India.

Date of Birth/Age :

14.05.1950

Date of Appointment :

24.01.1974

DIN No.:

00009902

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	U99999MH1973PTC016613	LOKMAT MEDIA Private Limited	Whole-time director	21/10/2010	24/01/1974	-	Active	NO
2	U65990MH1981PTC025898	DARDA INVESTMENT AND PROPERTIES PVT LTD	Managing director	21/12/1981	21/12/1981	-	Active	NO
3	U22120MH1985PTC035425	PRITHVI PRAKASHAN PRIVATE LIMITED	Director	20/02/1985	20/02/1985	-	Active	NO
4	U99999DL1951PLC002023	THE INDIAN NEWSPAPER SOCIETY.	Director	30/09/1991	30/09/1991	-	Active	NO
5	U51900MH1991PTC064483	PATLIPUTRA EXPORTS PRIVATE LIMITED	Director	17/02/1992	17/02/1992	-	Active	NO
6	U45200MH1973PTC016819	NAVKETAN INDUSTRIAL CONSTRUCTION PVT LTD	Director	15/07/1992	15/07/1992	-	Active	NO
7	U99999MH1992PTC068581	BOMBAY WELLPRINT INKS PVT LTD	Director	17/09/1992	17/09/1992	20/12/2002	Active	NO
8	U24999MH1948NPL006309	AUDIT BUREAU OF CIRCULATIONS	Director	26/09/2003	26/09/2003	26/09/2011	Active	NO
9	U40101MH2006PLC166285	JLD YAVATMAL ENERGY LIMITED	Director	18/12/2006	18/12/2006	30/04/2009	Active	NO
10	U70102MH2007PTC170569	VJD Realty Private Limited	Director	04/05/2007	04/05/2007	-	Active	NO
11	U65923DL2007PTC164598	IBN Lokmat News Private Limited	Director	15/09/2008	27/08/2007	-	Active	NO
12	U70102AP2005PTC048141	COZY PROPERTIES PRIVATE LIMITED	Nominee director	06/11/2007	05/11/2007	-	Active	NO
13	U40109WB2002PLC162558	JAS INFRASTRUCTURE AND POWER LIMITED	Director	30/09/2008	15/11/2007	04/09/2010	Active	NO

Name :

Mr. Devendra Vijay Darda

Designation :

Managing Director

Address :

B-601, Shubhda Co Op HSG Soc B, SIT Pochkhanwala Road, Worli, Mumbai – 400018, Maharashtra, India

Date of Birth/Age :

23.11.1974

Date of Appointment :

20.05.2002

DIN No.:

00319192

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	U21010MH1980PTC022587	DARDA PRINTOCRATS PRIVATE LIMITED	Director	07/06/1993	07/06/1993	22/10/2012	Active	NO
2	U99999MH1973PTC016613	LOKMAT MEDIA Private Limited	Managing director	21/10/2010	20/05/2002	-	Active	NO
3	U51900MH1991PTC064483	PATLIPUTRA EXPORTS PRIVATE LIMITED	Director	18/06/2002	18/06/2002	22/10/2012	Active	NO
4	U22120MH1985PTC035425	PRITHVI PRAKASHAN PRIVATE LIMITED	Director	18/06/2002	18/06/2002	-	Active	NO
5	U65990MH1981PTC025898	DARDA INVESTMENT AND PROPERTIES PVT LTD	Director	26/09/2003	26/09/2003	-	Active	NO
6	U92100MH2005PTC153398	PROVIDENCE INFRASTRUCTURE PRIVATE LIMITED	Director	18/05/2005	18/05/2005	-	Active	NO
7	U99999DL1951PLC002023	THE INDIAN NEWSPAPER SOCIETY.	Director	29/09/2005	29/09/2005	15/11/2011	Active	NO
8	U40101MH2006PLC166285	JLD YAVATMAL ENERGY LIMITED	Director	18/12/2006	18/12/2006	30/04/2009	Active	NO
9	U70102MH2007PTC170569	VJD Realty Private Limited	Director	04/05/2007	04/05/2007	-	Active	NO
10	U92190MH2007PTC172911	AIRWAVE ENTERTAINMENT PRIVATE LIMITED	Director	07/08/2007	07/08/2007	-	Active	NO
11	U65923DL2007PTC164598	IBN Lokmat News Private Limited	Director	15/09/2008	27/08/2007	-	Active	NO
12	U40109WB2002PLC162558	JAS INFRASTRUCTURE AND POWER LIMITED	Director	30/09/2008	15/11/2007	14/10/2010	Active	NO
13	U93090DL2008PTC175115	ASERA HOSPITALITY PRIVATE LIMITED	Director	11/03/2008	11/03/2008	-	Active	NO
14	U45400MH2008PTC187639	ASERA BUILDCON PRIVATE LIMITED	Director	20/10/2008	20/10/2008	-	Active	NO
15	U45202MH2009PTC195686	GREAT ASERA INFRASTRUCTURE PRIVATE LIMITED	Director	10/09/2009	10/09/2009	-	Active	NO
16	U92190MH2009PTC196077	LOKMAT ENTERTAINMENT PRIVATE LIMITED	Director	29/09/2009	29/09/2009	-	Active	NO
17	U45202MH2009PTC196142	ASERA INFRASTRUCTURE PRIVATE LIMITED	Director	30/09/2009	30/09/2009	-	Active	NO
18	U10300MH2009PTC196172	ASERA MINING PRIVATE LIMITED	Director	01/10/2009	01/10/2009	-	Active	NO
19	U40109MH2009PTC196213	ASERA POWER PRIVATE LIMITED	Director	05/10/2009	05/10/2009	-	Active	NO
20	U40108MH2010PTC207992	ASERA BANKA POWER PRIVATE LIMITED	Director	21/09/2010	21/09/2010	-	Active	NO
21	U24999MH1948NPL006309	AUDIT BUREAU OF CIRCULATIONS	Director	26/09/2011	26/09/2011	-	Active	NO
22	AAA-8468	CORALBELLS REALTORS LLP	Designated Partner	21/03/2012	21/03/2012	-	Active	NO

Name :

Mr Vijay Gopal Jindal

Designation :

Director

Address :

W-22, Greater Kailash, Part – I, New Delhi – 110048, India

Date of Birth/Age :

08.03.1957

Date of Appointment :

06.12.2010

DIN No.:

00008527

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	U22120MH1913PLC000391	BENNETT COLEMAN AND COMPANY LIMITED	Whole-time director	05/12/2002	05/12/2002	14/09/2007	Active	NO
2	U32109MH1986PLC168454	TIMES GLOBAL BROADCASTING COMPANY LIMITED	Director	31/03/2005	31/03/2005	04/09/2007	Active	NO
3	U74999DL1999PLC135531	TIMES INTERNET LIMITED	Director	29/09/2006	27/10/2005	31/07/2007	Active	NO
4	U74899DL2000PLC103722	OPTIMAL MEDIA SOLUTIONS LIMITED	Director	25/09/2006	27/04/2006	31/07/2007	Amalgamated	NO
5	U99999DL1951PLC002023	THE INDIAN NEWSPAPER SOCIETY.	Director	27/10/2006	27/10/2006	19/09/2007	Active	NO
6	U74992MH2006PLC163048	ZOOM ENTERTAINMENT NETWORK LIMITED	Director	18/06/2007	07/05/2007	06/09/2007	Active	NO
7	U92100DL2005PLC173555	TIMES BUSINESS SOLUTIONS LIMITED	Additional director	14/05/2007	14/05/2007	03/09/2007	Active	NO
8	U72200AP1999PTC033128	CYBERABAD TRUSTEE COMPANY PRIVATE LIMITED	Nominee director	27/09/2007	29/08/2007	23/08/2008	Active	NO
9	U72200AP1998PLC029282	HYDERABAD INFORMATION TECHNOLOGY VENTURE ENTERPRISES LIMITED	Nominee director	27/09/2007	29/08/2007	23/08/2008	Active	NO
10	U74300DL2006PTC146338	N.R.MEDIA AND MARKETING PRIVATE LIMITED	Director	05/09/2007	05/09/2007	-	Active	NO
11	U92120MH2007PTC174649	V2 MEDIA PRIVATE LIMITED	Director	01/12/2007	01/12/2007	-	Amalgamated	NO
12	U67190DL2005PTC143698	OPES VENTURES & CONSULTANTS PRIVATE LIMITED	Director	25/07/2008	25/07/2008	-	Active	NO
13	U67190MH2008PTC186132	M5 MEDIA INVESTMENTS PRIVATE LIMITED	Director	25/08/2008	25/08/2008	-	Active	NO
14	U22120DL2004PLC164728	UFO MOVIEZ INDIA LIMITED	Director	29/09/2009	18/02/2009	01/10/2011	Active	NO
15	L45101DL1967PLC004759	ANSAL PROPERTIES AND INFRASTRUCTURE LIMITED	Managing director	12/08/2012	12/08/2010	-	Active	NO
16	U45200DL2008PLC179003	ANSAL API INFRASTRUCTURE LIMITED	Additional director	15/10/2010	15/10/2010	19/05/2011	Active	NO
17	U99999MH1973PTC016613	LOKMAT MEDIA Private Limited	Director	06/12/2010	06/12/2010	-	Active	NO
18	U22222DL2007PLC169640	STAR FACILITIES MANAGEMENT LIMITED	Director	05/09/2012	25/04/2011	-	Active	NO

Name :

Mr. Rajesh Madan Mohan Khanna

Designation :

Director

Address :

Flat No. 4210, 42^nd Floor, Imperial Tower No. 1, MP Mill Compaund Tardeo, Mumbai – 400034, Maharashtra, India

Date of Birth/Age :

24.12.1965

Date of Appointment :

06.12.2010

DIN No.:

00032562

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	L51909DL1983PLC015418	MOSER BAER INDIA LIMITED	Director	30/09/2010	16/06/2000	08/06/2012	Active	NO
2	L24110MH1947PLC005719	Piramal Enterprises Limited	Nominee director	19/07/2002	19/07/2002	13/11/2007	Active	NO
3	U74140MH2004PTC145467	WARBURG PINCUS INDIA PRIVATE LIMITED	Managing director	01/07/2004	01/07/2004	31/03/2010	Active	NO
4	L24223PB1988PLC008031	MAX INDIA LIMITED	Director	06/09/2012	05/01/2005	-	Active	NO
5	U72200DL2001PLC111313	MAX HEALTHCARE INSTITUTE LIMITED	Nominee director	15/01/2005	15/01/2005	30/03/2010	Active	NO
6	U74899DL2000PLC106723	Max Life Insurance Company Limited	Additional director	31/07/2012	22/03/2005	-	Active	NO
7	U40106DL2005PLC143431	Moser Baer Photo Voltaic Limited	Director	19/07/2006	24/01/2006	30/03/2010	Active	NO
8	U45201DL2006PLC146525	Moser Baer SEZ Developer Limited	Nominee director	07/06/2006	07/06/2006	30/03/2010	Active	NO
9	U74899DL1992PLC049022	LEMON TREE HOTELS LIMITED	Director	02/04/2010	26/07/2006	-	Active	NO
10	U55101DL2005PTC138835	SPANK HOTELS PRIVATE LIMITED	Director	04/02/2010	26/07/2006	-	Active	NO
11	U45200MH2007PTC168081	ASHU KHANNA CONSULTANCY PRIVATE LIMITED	Director	23/02/2007	23/02/2007	-	Active	NO
12	U22229DL2006PLC153759	Moser Baer Entertainment Limited	Director	01/09/2009	24/10/2008	30/03/2010	Active	NO
13	U74140MH2010PTC199818	Arka Capital Advisors Private Limited	Managing director	28/01/2011	08/02/2010	-	Active	NO
14	U99999MH1973PTC016613	LOKMAT MEDIA Private Limited	Director	06/12/2010	06/12/2010	-	Active	NO

Name :

Mr. Jayendra Natwarlal Shah

Designation :

Director

Address :

52, Apurva Building, 5^th Floor, Nepeanse Road, Mumbai – 400036, Maharashtra, India

Date of Birth/Age :

07.03.1959

Date of Appointment :

06.12.2010

DIN No.:

00084759

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	U74140MH1987PTC044896	N.A. SHAH ASSOCIATES (CONSULTANTS) PVT LTD	Director	06/10/1987	06/10/1987	19/10/2010	Active	NO
2	U67190MH1992PTC066176	MEGHRAJ CAPITAL ADVISORS PRIVATE LIMITED	Director	21/05/1992	21/05/1992	-	Active	NO
3	U67190MH1993PTC073819	A P TARAPOREVALA AND SONS PRIVATE LIMITED	Director	08/09/1993	08/09/1993	20/05/2007	Active	NO
4	U65990MH1994PTC077569	PEWTER INVESTMENT AND FINANCE PRIVATE LTD	Director	31/10/1994	31/10/1994	20/05/2007	Active	NO
5	U24239MH1986PLC040697	RAIGAD PHARMACEUTICALS LIMITED	Director	11/07/1996	11/07/1996	20/03/2008	Active	NO
6	U65910GJ1981PTC004898	ABUZU HOLDINGS PRIVATE LIMITED	Director	27/02/1997	27/02/1997	20/05/2007	Active	NO
7	U74140MH2006PTC163850	TRANS CONTINENTAL CAPITAL ADVISORS PRIVATE LIMITED	Director	18/08/2006	18/08/2006	-	Active	NO
8	U65990MH1987PTC044769	MEGHRAJ FINANCIAL CONSULTANTS PRIVATE LIMITED	Director	31/10/2006	31/10/2006	21/05/2007	Active	NO
9	L25200MH1981PLC025731	EPC INDUSTRIE LIMITED	Director	22/01/2007	22/01/2007	29/09/2011	Active	NO
10	L24110AP1991PLC013512	Gayatri BioOrganics Limited	Director	27/09/2007	31/07/2007	21/05/2010	Active	NO
11	U01111DL1992PLC049149	MAHAAN PROTEINS LIMITED	Additional director	04/10/2007	04/10/2007	16/01/2008	Active	NO
12	L74899DL1956GOI002674	THE STATE TRADING CORPORATION OF INDIA LIMITED	Additional director	18/04/2012	01/12/2008	-	Active	NO
13	U99999MH1973PTC016613	LOKMAT MEDIA Private Limited	Director	06/12/2010	06/12/2010	-	Active	NO
14	U72900MH2009PTC191549	SOCIAL PR OUTSOURCING PRIVATE LIMITED	Director	28/09/2012	01/12/2011	-	Active	NO
15	U28920MH1989PTC054711	ANANDJI HARIDAS AND COMPANY PRIVATE LIMITED	Director	31/01/2012	31/01/2012	-	Active	NO
16	U67120MH1956PLC009707	GODAVARI BIOREFINERIES LIMITED	Additional director	21/09/2012	21/09/2012	-	Active	NO

Name :

Mr. Rishi Rajendra Darda

Designation :

Managing Director

Address :

Lokmat Bhavan, Jalana Road, Aurangabad 431003, Maharashtra, India

Date of Birth/Age :

15.12.1978

Date of Appointment :

21.11.2001

DIN No.:

00293183

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	U45200MH1973PTC016819	NAVKETAN INDUSTRIAL CONSTRUCTION PVT LTD	Director	15/07/1992	15/07/1992	-	Active	NO
2	U22120MH1985PTC035425	PRITHVI PRAKASHAN PRIVATE LIMITED	Director	21/07/1997	21/07/1997	-	Active	NO
3	U51900MH1991PTC064483	PATLIPUTRA EXPORTS PRIVATE LIMITED	Director	08/08/1998	08/08/1998	-	Active	NO
4	U21010MH1980PTC022587	DARDA PRINTOCRATS PRIVATE LIMITED	Director	08/08/1999	08/08/1999	-	Active	NO
5	U65990MH1981PTC025898	DARDA INVESTMENT AND PROPERTIES PVT LTD	Director	21/11/2001	21/11/2001	-	Active	NO
6	U99999MH1973PTC016613	LOKMAT MEDIA Private Limited	Managing director	21/10/2010	21/11/2001	-	Active	NO
7	U63040MP1994PTC008810	NAVKETAN TOURS AND TRAVELS PVT LTD	Managing director	05/05/2004	05/05/2004	-	Active	NO
8	U22100MH2004PTC147943	REGAL PUBLICATIONS PRIVATE LIMITED	Director	26/07/2005	26/07/2005	-	Active	NO
9	U92190MH2007PTC172911	AIRWAVE ENTERTAINMENT PRIVATE LIMITED	Director	07/08/2007	07/08/2007	-	Active	NO
10	U65923DL2007PTC164598	IBN Lokmat News Private Limited	Director	15/09/2008	27/08/2007	-	Active	NO
11	U93090DL2008PTC175115	ASERA HOSPITALITY PRIVATE LIMITED	Director	11/03/2008	11/03/2008	-	Active	NO
12	U67120MH1993PTC074812	MOGRA SCANGRAPH PRIVATE LIMITED	Director	16/03/2009	16/03/2009	-	Active	NO
13	U45202MH2009PTC195686	GREAT ASERA INFRASTRUCTURE PRIVATE LIMITED	Director	10/09/2009	10/09/2009	-	Active	NO
14	U92190MH2009PTC196077	LOKMAT ENTERTAINMENT PRIVATE LIMITED	Director	29/09/2009	29/09/2009	-	Active	NO
15	U45202MH2009PTC196142	ASERA INFRASTRUCTURE PRIVATE LIMITED	Director	30/09/2009	30/09/2009	-	Active	NO
16	U10300MH2009PTC196172	ASERA MINING PRIVATE LIMITED	Director	01/10/2009	01/10/2009	-	Active	NO
17	U40109MH2009PTC196213	ASERA POWER PRIVATE LIMITED	Director	05/10/2009	05/10/2009	-	Active	NO
18	U45205MH2010PTC201400	IGNITE PROPERTIES PRIVATE LIMITED	Director	29/03/2010	29/03/2010	-	Active	NO
19	U99999DL1951PLC002023	THE INDIAN NEWSPAPER SOCIETY.	Director	17/11/2011	17/11/2011	-	Active	NO
20	U91110MH1999NPL122117	Entrepreneurs' Organization Mumbai	Director	01/07/2012	01/07/2012	-	Active	NO
21	AAA-8468	CORALBELLS REALTORS LLP	Designated Partner	21/03/2012	21/03/2012	-	Active	NO

Name :

Mr. Karan Rajendra Darda

Designation :

Executive Director

Address :

Lokmat Bhavan, Jalana Road, Aurangabad 431003, Maharashtra, India

Date of Birth/Age :

25.05.1983

Date of Appointment :

01.04.2009

DIN No.:

01211502

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	U45200MH1973PTC016819	NAVKETAN INDUSTRIAL CONSTRUCTION PVT LTD	Director	15/01/2004	15/01/2004	-	Active	NO
2	U22120MH1985PTC035425	PRITHVI PRAKASHAN PRIVATE LIMITED	Director	01/04/2005	01/04/2005	-	Active	NO
3	U51900MH1991PTC064483	PATLIPUTRA EXPORTS PRIVATE LIMITED	Director	01/04/2005	01/04/2005	-	Active	NO
4	U21010MH1980PTC022587	DARDA PRINTOCRATS PRIVATE LIMITED	Director	01/04/2005	01/04/2005	-	Active	NO
5	U67120MH1993PTC074812	MOGRA SCANGRAPH PRIVATE LIMITED	Director	01/04/2005	01/04/2005	-	Active	NO
6	U63040MP1994PTC008810	NAVKETAN TOURS AND TRAVELS PVT LTD	Director	05/05/2005	05/05/2005	-	Active	NO
7	U22100MH2004PTC147943	REGAL PUBLICATIONS PRIVATE LIMITED	Director	26/07/2005	26/07/2005	-	Active	NO
8	U99999MH1973PTC016613	LOKMAT MEDIA Private Limited	Whole-time director	21/10/2010	01/04/2009	-	Active	NO
9	U45205MH2010PTC201400	IGNITE PROPERTIES PRIVATE LIMITED	Director	29/03/2010	29/03/2010	-	Active	NO
10	U40108MH2010PTC207992	ASERA BANKA POWER PRIVATE LIMITED	Director	21/09/2010	21/09/2010	-	Active	NO

Name :

Mr. Pushpat Shival Shah

Designation :

Director

Address :

94 A, Kalpataru Habitat Dr. SS Rao Road, Parel, Mumbai – 400012, Maharashtra, India

Date of Birth/Age :

27.09.1965

Date of Appointment :

06.12.2010

DIN No.:

01687641

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	U70100MH2003PLC143211	I-VEN REALTY LIMITED	Director	20/09/2004	20/09/2004	27/09/2011	Active	NO
2	U99999MH1973PTC016613	LOKMAT MEDIA Private Limited	Director	06/12/2010	06/12/2010	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Amit Bhatia
Designation :	Company Secretary
Address :	3/A, Neelkanth Apartment, Opposite Chitra Building, S.V.P. Road, Kandivali (West), Mumbai, India
Date of Birth/Age :	25.05.1979
Date of Appointment :	25.10.2010

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 28.11.2011

Names of Shareholders		No. of Shares
Vijay J. Darda		10398996
Jyotsna V. Darda		6204600
Devendra Darda		4140000
Rajendra J. Darda		12319596
Ashoodevi Darda		2808000
Rishi Darda		2808000
Karan Darda		2808000

Total		41487192

Equity Share Break up (Percentage of Total Equity)

As on 28.11.2011

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in Printing and Publishing of Newspapers.

PRODUCTION STATUS: (AS ON 31.05.2010)

Particulars

Installed Capacity

Actual Production

Newspaper

831000

623733122

GENERAL INFORMATION

No. of Employees :

Information Denied by Management

Bankers :

Bank of India, Nagpur Corporate Banking Branch, S. V. Patel Marg, Kingsway, Nagpur- 440001, Maharashtra, India.

Facilities :

(Rs. in Millions)

Secured Loan	As on 31.05.2011
Rupee term loans banks secured	631.751
Working capital loans banks secured	110.891
Total	742.642

Secured Loans	31.05.2010 Rs. In Millions

From Banks
Cash Credit Account	98.201
Term Loans	178.954
Demand Loan	30.935

Total	308.091

1. Cash Credit Account is secured by Hypothecation of Stock in Trade, Stores and Book Debts and Personal Guarantee of Two Directors.

2. Term Loans from Banks are secured by Equitable mortgage of land, building at Nashik, Shendra, Nanded, Kolhapur, Mumbai Unit, and hypothecation of plant and machinery at Butibori, Pune, Nashik, Aurangabad, Shendra, Solapur Kolhapur and Mumbai units and computers and furniture fixtures and vehicles acquired form such loans and personal guarantee of Two directors.

3. Demand loans is secured against Lien of F.d. Receipts.


Banking Relations :	--

Auditors :
Name :	M. M. Jain and Associates Chartered Accountants
Address :	AS/502, Ujwal Flats, Rahate Colony, Wardha Road, Nagpur – 440022, Maharashtra, India
PAN.:	AABFM6199F

Joint Ventures :	IBN-Lokmat News Private Limited

Subsidiaries:	· Asera Power Private Limited, India (CIN: U40109MH2009PTC196213) · Lokmat Entertainment Private Limited, India (CIN: U92190MH2009PTC196077)

Related Enterprises where significant influence exist:	· Darda Investment and Properties Private Limited · Media World Enterprises · Devendra Printers · Prithvi Vandan · Darda Printocrafts Private Limited. · Mogra Scangraph Private Limited. · Regal Publication Private Limited. · Airwave Entertainment Private Limited. · Prithvi Prakashan Private Limited.

CAPITAL STRUCTURE

As on 31.05.2011

Authorised Capital :

No. of Shares	Type	Value	Amount

75000000	Equity Shares	Rs.10/- each	Rs.750.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

41487192	Equity Shares	Rs.10/- each	Rs.414.872 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.05.2011	31.05.2010	31.05.2009
SHAREHOLDERS FUNDS
1] Share Capital		414.872	11.524	6.848
2] Share Application Money		0.000	0.000	4.676
3] Reserves & Surplus		2153.056	2088.951	1855.486
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		2567.928	2100.475	1867.010
LOAN FUNDS
1] Secured Loans		742.642	308.091	407.027
2] Unsecured Loans		0.000	0.000	9.500
TOTAL BORROWING		742.642	308.091	416.527
DEFERRED TAX LIABILITIES		85.879	72.029	30.749

TOTAL		3396.449	2480.595	2314.286

APPLICATION OF FUNDS

FIXED ASSETS [Net Block]		1471.663	1087.680	1158.176
Capital work-in-progress		68.137	16.784	24.691

INVESTMENT		562.341	245.175	323.965
DEFERREX TAX ASSETS		0.000	0.000	0.000

CURRENT ASSETS, LOANS & ADVANCES
	Inventories	484.095	253.727	223.905
	Sundry Debtors	778.927	712.717	526.065
	Cash & Bank Balances	440.813	381.159	332.486
	Other Current Assets	5.599	10.685	22.604
	Loans & Advances	1009.744	1036.862	466.125
Total Current Assets		2719.178	2395.150	1571.185
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	358.737	110.628	107.750
	Other Current Liabilities	179.304	306.921	290.841
	Provisions	886.829	846.645	365.140
Total Current Liabilities		1424.870	1264.194	763.731
Net Current Assets		1294.308	1130.956	807.454

MISCELLANEOUS EXPENSES		0.000	0.000	0.000

TOTAL		3396.449	2480.595	2314.286

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.05.2011	31.05.2010	31.05.2009
	SALES
		Income	4407.652	3809.610	2300.962
		Other Income	42.989	50.960	21.729
		TOTAL (A)	4450.641	3860.570	2322.691

Less	EXPENSES
		Consumption material changes inventories	2075.859	1543.250	946.386
		Manufacturing other operating expenses	270.467	-	-
		Employee related expenses	638.509	560.131	331.375
		Administrative selling other expenses	526.126	-	-
		Operating and Other Expenses	-	686.471	343.877
		Prior Period Expenses	-	0.793	-
		Exceptional Items	-	7.610	-
		TOTAL (B)	3510.961	2798.255	`1621.638

Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		939.680	1062.315	701.053

Less	FINANCIAL EXPENSES (D)		40.287	29.489	49.027

	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		899.393	1032.826	652.026

Less/ Add	DEPRECIATION/ AMORTISATION (F)		185.341	159.599	95.631

	PROFIT BEFORE TAX (E-F) (G)		714.052	873.227	556.395

Less	TAX (I)		222.048	112.686	148.786

	PROFIT AFTER TAX (G-I) (J)		492.004	588.947	407.609

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		589.094	350.735	3.119

Add	Transfer to Revaluation Reserve		0.005	0.006	0.007

Less	APPROPRIATIONS
		Transfer to General Reserve	49.000	59.000	60.000
		Dividend	0.000	249.730	0.000
		Tax on Dividend	0.000	41.863	0.000
	BALANCE CARRIED TO THE B/S		1032.103	589.095	350.735

	IMPORTS
		Raw Materials	NA	357.709	88.279
		Components and Spare Parts	NA	0.000	11.674
		Capital Goods	NA	6.331	0.000
	TOTAL IMPORTS		NA	364.040	99.953

	Earnings Per Share (Rs.)		11.86	511.05	595.20

KEY RATIOS

PARTICULARS		31.05.2011	31.05.2010	31.05.2009
PAT / Total Income	(%)	11.05	15.26	17.55

Net Profit Margin (PBT/Sales)	(%)	16.20	15.46	24.18

Return on Total Assets (PBT/Total Assets}	(%)	26.26	36.46	30.81

Return on Investment (ROI) (PBT/Networth)		0.28	0.42	0.30

Debt Equity Ratio (Total Liability/Networth)		0.84	0.75	0.63

Current Ratio (Current Asset/Current Liability)		1.91	1.89	2.36

LOCAL AGENCY FURTHER INFORMATION

Check List by Info Agents	Available in Report (Yes / No)
1) Year of Establishment	Yes
2) Locality of the firm	Yes
3) Constitutions of the firm	Yes
4) Premises details	No
5) Type of Business	Yes
6) Line of Business	Yes
7) Promoter’s background	Yes
8) No. of employees	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	Yes
17) Major suppliers	No
18) Major customers	No
19) Payments terms	No
20) Export / Import details (if applicable)	No
21) Market information	--
22) Litigations that the firm / promoter	--
23) Banking Details	Yes
24) Banking facility details	Yes
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	Yes
28) Incorporation details, if applicable	Yes
29) Last accounts filed at ROC	No
30) Major Shareholders, if available	Yes
31) Date of Birth of Proprietor/Partner/Director, if available	Yes
31) 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

FINANCIAL PERFORMANCE:

The Company's total income for the year is higher than the previous year but Net profit is lower due to high interest rates, increased depreciation due to additional capex and tough market conditions. The Directors are optimistic about the enhancement of the capacity utilization resulting in an increase in the turnover as well as generating more profit from operations in the years ahead

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U99999MH1973PTC016613
Name of the company	LOKMAT MEDIA PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Mittal Tower, `B’ Wing, 12^th Floor, Nariman Point, Mumbai – 400 021, Maharashtra, India Email: dxd510@gmail.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10221777
Type of charge	Movable property (not being pledge)
Particular of charge holder	Bank of India, Nagpur Corporate Banking Branch, S. V. Patel Marg, Kingsway, Nagpur- 440001, Maharashtra, India. Email: mca21@in.com
Nature of instrument creating charge	Supplemental deed of hypothecation.
Date of instrument Creating the charge	14.10.2010
Amount secured by the charge	Rs.334.800 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Term Loan I and II: AT 4% Below BPLR, Present Effective Rate 8.50% P.A. With Monthly Rests. Terms of Repayment Term Loan I and II: Repayable in 10 Half Yearly installments of Rs. 33.400 Millions, commencing from December 2010 (Last Installment Is OF Rs. 34.200 Millions). Margin Term Loan : 25% Extent and Operation of the charge The charge operates as security on the plant and machinery of the company.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Hypothecation of plant and machinery proposed to be purchased out of this term loan. The details are as per annexure-i.
Date of instrument modifying the charge	23.04.2010
Particulars of the present modification	By present modification the bank has sanctioned the new term loan of Rs. 90.000 Millions. Thus total term loan facilities stand at Rs. 334.800 Millions. The bifurcation of credit facilities are as under: Term Loan I: RS. 244.800 Millions. Term Loan II: RS. 90.000 Millions Total: RS. 334.800 Millions.

FIXED ASSETS

· Land

· Building

· Plant and Machinery

· Furniture and Fixtures

· Vehicles

· Data Processing Equipments.

AS PER WEBSITE DETAILS

COMPANY PROFILE

Subject is a leading multi platform media company with interests in a diversified portfolio of publishing, broadcast, digital, entertainment, community and sports verticals. It has an employee strength of more than 3,000 and has a pan-India network of offices.

Lokmat Group publishes newspapers in three languages – ‘Lokmat’ (Marathi), ‘Lokmat Samachar’ (Hindi) and ‘Lokmat Times’ (English). ‘Lokmat’ is the largest read regional language newspaper in India with over 24.19 million readers (Source: Total Readership, IRS ’11 Q4) and the No. 1 Marathi newspaper in Maharashtra & Goa states with 11 editions and a circulation of 1.66 million copies (Source: Audit Bureau of Circulation, Jan-June ’11). ‘Lokmat Samachar’, with 5 editions is one of the largest read Hindi daily in the state of Maharashtra with over 1.44 million readers (Source: Total Readership, IRS ’11 Q4). ‘Lokmat Times’ has 2 editions.

Lokmat Group makes its content available for the global readers through its news portal It also has a partnership with Yahoo! to provide content to a co-branded Marathi section on Yahoo! India’s news portal.

Lokmat entered the TV space in 2008 and it co-owns a 24-hour news and current affairs channel ‘IBN Lokmat’, through a JV with the Network18 Group.

Lokmat’s magazine division Cymbal Media publishes an international magazine called ‘G2 – The Global Gujarati’. This is positioned as a high-end lifestyle magazine.

Lokmat Group made its foray in the entertainment sector through its subsidiary Lokmat Entertainment for production and distribution of films and television content. It released its first Marathi film “Jetaa” in August 2010, a co-production with Ramesh Deo Productions Private Limited.

Lokmat’s experiential marketing division – Lokmat Connect organizes various annual properties like ‘Lokmat Maharashtrian of the Year’, ‘Lokmat Women Summit’ etc. which are the benchmark in the their respective categories. It also provides comprehensive 360 degree marketing solutions to clients including ‘Below The Line’ promotions and client led activations. It is the largest event management company in Maharashtra in terms of number of events held. This division also runs various community forums focussed on Women, Youth and Children.

Lokmat runs sports leagues across various cities in Maharashtra, mainly focusing on cricket and football. These championships are organized under ‘Lokmat Play’

As a responsible corporate citizen, the Group is engaged in various social initiatives aimed to help the poor and needy. It also is actively involved in helping victims of natural disasters and tragedies. Lokmat also works to highlight problems faced by people in its communities, bring it to the attention of the concerned authorities for necessary action.

MILESTONES

1971 - Late Shri Jawaharlal Darda launched Lokmat’s first full daily edition on December 15, 1971 from Nagpur, Maharashtra

1973 - Our company was incorporated by Late Shri Jawaharlal Darda under the name Lokmat Newspapers Private Limited

1973 - Lokmat Newspapers Private Limited acquired the Lokmat newspaper

1977 - Lokmat Jalgaon started on 15 December,1977

1982 - Lokmat Aurangabad started on 9 January 1982

1987 - Lokmat Times Aurangabad started on 30 March,1987

1987 - Lokmat Ahmednagar started on 15 August,1987

1989 - Lokmat Samachar started on 14 January,1989

1989 - Lokmat Nashik started on 14 September,1989

1992 - Lokmat Samachar started onAurangabad on 16 August,1992

1992 - Lokmat Times Nagpur started on 21 October,1992

1993 - Lokmat Solapur started on 24 October,1993

1997 – Yuva Manch (now known as Yuva Nxt) launched

1998 - Lokmat Akola started on 16 March,1998

1998 - Lokmat Mumbai started on 1st May,1998

1998 - Lokmat Kolhapur started on 12th October, 1998

1998 – Marathi news website - www.lokmat.com launched

1999 - Lokmat Samachar started on 27 July, 1999.

1999 - Lokmat Pune started on 13 September, 1999.

2000 – ‘Sakhi Manch’, forum for women launched

2004 - Lokmat Samachar Kolhapur started on 20August,2006.

2005 – ePaper for Lokmat launched

2006 – Lifestyle magazine ‘G2, The Global Gujarati’ launched

2008 - IBN Lokmat goes on air on 6th April 2008

2009 - Lokmat Goa started on 21st April,2009

2009 - Acquired the printing and publishing business of PPPL under scheme of demerger to consolidate the publication
business

2010 - Lokmat Connect – Events division formed

2010 - Lokmat releases Jetaa, a Marathi film co-produced with RDP in August 2010

2011 - Lokmat Samachar launches its 5th edition in Jalgaon

2012 - Lokmat creates Guinness World Record in Aurangabad

2012 - Lokmat Samachar launches its sixth edition in Pune in June '12

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 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.54.91
UK Pound	1	Rs.87.38
Euro	1	Rs.70.24

INFORMATION DETAILS

Report Prepared by :

BYI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILIRY	1~10	7
--LIQUIDITY	1~10	8
--LEVERAGE	1~10	7
--RESERVES	1~10	8
--CREDIT LINES	1~10	7
--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	YES
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		65

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.

MIRA INFORM REPORT

484.095

253.727

223.905

778.927

712.717

526.065

440.813

381.159

332.486

5.599

10.685

22.604

1009.744

1036.862

466.125

2719.178

358.737

110.628

107.750

179.304

306.921

290.841

886.829

846.645

365.140

1424.870

1294.308

1130.956

807.454

11.05

16.20

26.26

0.28

0.84

1.91

Unit