MIRA INFORM REPORT

Report Date :

27.11.2012

IDENTIFICATION DETAILS

Name :	DIVYALAKSHMI TEXTILES PRIVATE LIMITED
Registered Office :	36, Vadugarkottai Streetaruppukottai, Virudhunagar District-626101, Tamilnadu
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	18.03.2005
Com. Reg. No.:	18-055700
Capital Investment / Paid-up Capital :	Rs. 80.905 millions
CIN No.: [Company Identification No.]	U17112TN2005PTC055700
PAN No.: [Permanent Account No.]	AACCD1718K
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Cotton Yarn.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (36)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 96000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. These appear huge accumulated losses recorded by the company and the external borrowing is also huge. However, their appears slight improvement in the performance from last two year. Trade relation are reported to be fair. Business is active. Payments are slow. The company can be considered for business dealing with some caution.

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	D (Term Loan) [Suspended]
Rating Explanation	These ratings are in default or are expected to be in default soon.
Date	October, 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 :	36, Vadugarkottai Streetaruppukottai, Virudhunagar District-626101, Tamilnadu, India
Tel. No.:	91-4566-240921
Fax No.:	91-4566-240704
E-Mail :	geejeyaraman@yahoo.co.in divyalakshmitextiles_india@yahoo.co.in
Factory :	Survey No. 15/2A, B, C, 16/1A, 1B, 17/4, 17/5, Kulasekaranallur Village, Thiruchuli Road, Ramasamy Nagarm Aruppukottai-626159, Tamilnadu, India
Godown :	Kulasekaranallur, Thiruchuli Road, Ramasamy Nagar Post, Aruppukottai-626159, Tamilnadu, India
Tel. No.:	91-4566-291669 / 240921
Fax No.:	91-4566-240704
Administration Office :	70, Alagai Nagar, Rajapalayam-626117, Tamilnadu, India
E-Mail :	jayajothi@jayajothi.com

DIRECTORS

As on 22.08.2011

Name :

Mr. Kannan Ramasamy Naicker

Designation :

Director

Address :

Flat No.9, Geegee Castle, 186 Avvaishanmugam Salai, Gopalapuram, Chennai-600086, Tamilnadu, India

Date of Birth/Age :

09.08.1956

Date of Appointment :

18.03.2005

DIN No.:

00356817

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	U17111TN1951PLC002746	SHRI RAMALINGA MILLS LTD	Director	25/08/1978	25/08/1978	-	Active	NO
2	U60201TN1979PTC007795	SRI VENKATACHALAPATHY TRANSPORTS PRIVATE LIMITED	Director	04/11/2011	16/04/1979	28/03/2012	Active	NO
3	U27104TN1961PTC004402	KOVILPATTI STEEL ROLLING INDUSTRIES PRIVATE LIMITED	Director	07/05/1979	07/05/1979	-	Active	NO
4	U65191TN1980PTC008152	ARUPPUKOTTAI SRI JAYAVILAS FINANCE PRIVATE LIMITED	Director	01/03/1980	01/03/1980	-	Active	NO
5	U51102TN1981PLC008702	SRI JAYAJOTHI & COMPANY LIMITED	Whole-time director	25/06/2011	07/04/1981	-	Active	NO
6	U27104TN1982PTC009175	SREE JAYA VILAS MALLEABLE CASTINGS PRIVATE LIMITED	Director	18/01/1982	18/01/1982	-	Active	NO
7	U27200TN1984PTC011013	ARUPPUKOTTAI SRI JAYAVILAS INVESTMENTS PRIVATE LIMITED	Director	12/07/1984	12/07/1984	-	Active	NO
8	U24294TN1985PTC011584	SRI JAYASAKTHI POLYMERS PRIVATE LIMITED	Director	21/02/1985	21/02/1985	-	Active	NO
9	U27320TN1988PTC015559	SREE JAYA STEELS AND ALLIED INDUSTRIES PRIVATE LIMITED	Director	07/04/1988	07/04/1988	-	Active	NO
10	U17111TN1989PTC017318	JAI JAGADHAMBIGA TEXTILE MILLS PRIVATE LIMITED	Director	16/07/1990	16/07/1990	24/03/2011	Active	NO
11	U35111TN1983PTC010041	JESUDASONS PRIVATE LIMITED	Director	27/11/1991	27/11/1991	-	Active	NO
12	U17111TN1992PTC022526	SHRI JAYAVARTHAN SPINNING MILL PRIVATE LIMITED	Director	22/04/1992	22/04/1992	20/04/2010	Active	NO
13	U17111TN1992PTC022984	SRI SATHU SPINNING MILLS PRIVATE LTD	Director	01/07/1992	01/07/1992	20/04/2010	Active	NO
14	U65191TN1994PLC028374	SHRI JAYAJOTHI FINANCE LIMITED	Director	22/08/1994	22/08/1994	-	Active	NO
15	U17111TN1995PTC032148	JAYALAKSHMI TEXTILES PRIVATE LIMITED	Director	06/07/1995	06/07/1995	-	Active	NO
16	U21012KL1995PLC009698	GREENLAND PAPER MILLS LIMITED	Director	24/11/1995	24/11/1995	-	Active	NO
17	U17111TN1996PTC034526	SRI JAYA JOTHI TEXTILE MILLS P LTD	Director	15/02/1996	15/02/1996	24/03/2011	Active	NO
18	U17111TZ2002PTC010375	TELA FABRICS INDIA PRIVATE LIMITED	Director	25/11/2002	25/11/2002	-	Active	NO
19	U40101TN2002PTC049988	SRI JAYAJOTHI POWER MANAGEMENT COMPANY PRIVATE LIMITED	Director	05/12/2002	05/12/2002	-	Active	NO
20	U21011TN2002PLC050022	BLUEMOUNT PAPER AND BOARDS LIMITED	Director	12/12/2002	12/12/2002	10/12/2009	Active	NO
21	U45202TN2004PTC054790	JAYANTHA FOUNDATIONS PRIVATE LIMITED	Whole-time director	01/12/2004	01/12/2004	-	Active	NO
22	U52599TN1992PTC022306	PAARAGAN PAPER PRIVATE LIMITED	Managing director	20/01/2005	20/01/2005	06/06/2011	Active	NO
23	U17112TN2005PTC055700	DIVYALAKSHMI TEXTILES PRIVATE LIMITED	Director	18/03/2005	18/03/2005	-	Active	NO
24	U29261TN2005PTC058043	ELECTRO JET MACHINERY PRIVATE LIMITED	Director	16/11/2005	16/11/2005	-	Active	NO
25	U02695TN2006PLC061729	SREE JAYAJOTHI CEMENTS LIMITED	Managing director	01/09/2007	12/12/2006	-	Active	NO
26	U26941TN2008PLC067877	SREE JOTHI CEMENTS LIMITED	Director	26/05/2008	26/05/2008	-	Active	NO
27	U55204TN2008PTC068553	SREE JAYAJOTHI INFRA DEVELOPERS PRIVATE LIMITED	Director	14/07/2008	14/07/2008	-	Active	NO

Name :

Mr. Gokul Kannan

Designation :

Director

Address :

Flat No.9, Geegee Castle, 186 Avvaishanmugam Salai, Gopalapuram, Chennai-600086, Tamilnadu, India

Date of Birth/Age :

12.09.1981

Date of Appointment :

18.03.2005

DIN No.:

00391940

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	U51102TN1981PLC008702	SRI JAYAJOTHI & COMPANY LIMITED	Managing director	25/06/2011	03/04/2002	-	Active	NO
2	U17111TN1995PTC032148	JAYALAKSHMI TEXTILES PRIVATE LIMITED	Director	14/02/2005	14/02/2005	-	Active	NO
3	U17112TN2005PTC055700	DIVYALAKSHMI TEXTILES PRIVATE LIMITED	Director	18/03/2005	18/03/2005	-	Active	NO
4	U29261TN2005PTC058043	ELECTRO JET MACHINERY PRIVATE LIMITED	Director	16/11/2005	16/11/2005	-	Active	NO
5	U02695TN2006PLC061729	SREE JAYAJOTHI CEMENTS LIMITED	Director	12/12/2006	12/12/2006	-	Active	NO
6	U26941TN2008PLC067877	SREE JOTHI CEMENTS LIMITED	Director	26/05/2008	26/05/2008	-	Active	NO
7	U55204TN2008PTC068553	SREE JAYAJOTHI INFRA DEVELOPERS PRIVATE LIMITED	Director	14/07/2008	14/07/2008	-	Active	NO

Name :

Ms. Divya Kannan

Designation :

Director

Address :

Flat No.9, Geegee Castle, 186 Avvaishanmugam Salai, Gopalapuram, Chennai-600086, Tamilnadu, India

Date of Birth/Age :

25.10.1985

Date of Appointment :

18.03.2005

DIN No.:

00391981

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	U17112TN2005PTC055700	DIVYALAKSHMI TEXTILES PRIVATE LIMITED	Director	18/03/2005	18/03/2005	-	Active	NO
2	U29261TN2005PTC058043	ELECTRO JET MACHINERY PRIVATE LIMITED	Director	16/11/2005	16/11/2005	-	Active	NO
3	U51102TN1981PLC008702	SRI JAYAJOTHI & COMPANY LIMITED	Director	02/08/2006	02/08/2006	-	Active	NO
4	U02695TN2006PLC061729	SREE JAYAJOTHI CEMENTS LIMITED	Director	01/12/2007	01/12/2007	24/08/2009	Active	NO
5	U17111TN1995PTC032148	JAYALAKSHMI TEXTILES PRIVATE LIMITED	Director	03/08/2011	03/08/2011	-	Active	NO

Name :

Ms. Krishnaveni Kannan

Designation :

Director

Address :

Flat No.9, Geegee Castle, 186 Avvaishanmugam Salai, Gopalapuram, Chennai-600086, Tamilnadu, India

Date of Birth/Age :

16.03.1957

Date of Appointment :

18.03.2005

DIN No.:

00420020

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	U27104TN1961PTC004402	KOVILPATTI STEEL ROLLING INDUSTRIES PRIVATE LIMITED	Director	07/05/1979	07/05/1979	-	Active	NO
2	U60210TN1979PTC007793	SRI VAIGAI TRANSPORTS PRIVATE LIMITED	Director	18/05/1983	18/05/1983	20/04/2010	Active	NO
3	U60221TN1951PLC000161	ARUPPUKOTTAI SRI JAYA VILAS LIMITED	Director	01/08/1986	01/08/1986	-	Active	NO
4	U17112TN1980PLC008155	SHRI GOVINDARAJA MILLS LIMITED	Director	01/04/1987	01/04/1987	09/09/2011	Active	NO
5	U27320TN1988PTC015559	SREE JAYA STEELS AND ALLIED INDUSTRIES PRIVATE LIMITED	Director	07/04/1988	07/04/1988	-	Active	NO
6	U51102TN1981PLC008702	SRI JAYAJOTHI & COMPANY LIMITED	Whole-time director	25/06/2011	20/03/1995	-	Active	NO
7	U17111TN1995PTC032148	JAYALAKSHMI TEXTILES PRIVATE LIMITED	Director	06/07/1995	06/07/1995	-	Active	NO
8	U17111TZ2002PTC010375	TELA FABRICS INDIA PRIVATE LIMITED	Director	25/11/2002	25/11/2002	-	Active	NO
9	U40101TN2002PTC049988	SRI JAYAJOTHI POWER MANAGEMENT COMPANY PRIVATE LIMITED	Director	05/12/2002	05/12/2002	-	Active	NO
10	U45202TN2004PTC054790	JAYANTHA FOUNDATIONS PRIVATE LIMITED	Whole-time director	01/12/2004	01/12/2004	-	Active	NO
11	U17112TN2005PTC055700	DIVYALAKSHMI TEXTILES PRIVATE LIMITED	Director	18/03/2005	18/03/2005	-	Active	NO
12	U29261TN2005PTC058043	ELECTRO JET MACHINERY PRIVATE LIMITED	Director	16/11/2006	16/11/2006	-	Active	NO
13	U02695TN2006PLC061729	SREE JAYAJOTHI CEMENTS LIMITED	Director	12/12/2006	12/12/2006	24/08/2009	Active	NO
14	U65191TN1994PLC028374	SHRI JAYAJOTHI FINANCE LIMITED	Director	05/01/2007	05/01/2007	-	Active	NO
15	U26941TN2008PLC067877	SREE JOTHI CEMENTS LIMITED	Director	26/05/2008	26/05/2008	-	Active	NO
16	U60201TN1979PTC007795	SRI VENKATACHALAPATHY TRANSPORTS PRIVATE LIMITED	Director	04/11/2011	04/11/2011	28/03/2012	Active	NO

Name :

Mr. Arunkrishna Srinivasan

Designation :

Director

Address :

House Street, Allingaram, Theni-625531, Tamilnadu, India

Date of Birth/Age :

26.07.1984

Date of Appointment :

03.08.2011

DIN No.:

03592020

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 22.08.2011

Names of Shareholders	No. of Shares
Kannan T. R	2022625
Gokul Kannan	2022625
Divya Kannan	2022625
Krishnaveni Kannan	2022625
Total	8090500

Equity Share Break up (Percentage of Total Equity)

As on 22.08.2011

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Cotton Yarn.

Products :

ITC CODE NO.	PRODUCT/ SERVICES DESCRIPTION
5205	Cotton Yarn

PRODUCTION STATUS AS ON 31.03.2011

Particulars	Unit	Licensed Capacity	Installed Capacity
De		50000	27200

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

The South Indian Bank Limited

Anut Complex, Pandalgudi Road Junction, Aruppukottai, Virudhunagar District - 626101, Tamil Nadu, India

Facilities :

Secured Loan	31.03.2011 (Rs. in Millions)	31.03.2010 (Rs. in Millions)
Rupee term loans banks secured	290.000	327.152
Working capital loans banks secured	94.325	95.942
Total	384.325	423.094
Unsecured Loan	31.03.2011 (Rs. in Millions)	31.03.2010 (Rs. in Millions)
Loans directors unsecured	0.800	1.100
Deposits related parties unsecured	10.100	0.000
Total	10.900	1.100

Banking Relations :	--
Auditors :
Name :	G.JEYARAMAN Chartered Accountant
Address :	No.5A, Gowshika Mansion, S.S.Colony, North Gate, Madurai-10, Tamilnadu, India
PAN No.:	AAWPJ2929D

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs.10/- each	Rs. 100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
8090500	Equity Shares	Rs.10/- each	Rs. 80.905 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		80.905	0.200	0.200
2] Share Application Money		0.000	0.000	88.800
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		(56.709)	(69.610)	(81.506)
NETWORTH		24.196	(69.410)	7.494
LOAN FUNDS
1] Secured Loans		384.325	423.094	433.282
2] Unsecured Loans		10.900	1.100	0.800
TOTAL BORROWING		395.225	424.194	434.082
DEFERRED TAX LIABILITIES		0.000	0.000	18.216
TOTAL		419.421	354.784	459.792
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		332.288	364.102	393.576
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		50.500	50.500	10.000
DEFERRED TAX ASSETS		(26.342)	(23.554)	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	119.173	146.973	74.096
	Sundry Debtors	95.259	54.618	48.248
	Cash & Bank Balances	5.134	3.947	3.017
	Other Current Assets	0.071	0.930	14.576
	Loans & Advances	28.649	28.749	16.104
Total Current Assets		248.286	235.217	156.041
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	179.730	112.192	59.067
	Other Current Liabilities	0.981	155.012	40.622
	Provisions	4.600	4.317	0.217
Total Current Liabilities		185.311	271.521	99.906
Net Current Assets		62.975	(36.304)	56.135
MISCELLANEOUS EXPENSES		0.000	0.040	0.081
TOTAL		419.421	354.784	459.792

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	522.004	335.694	225.827
		Other Income	NA	NA	NA
		TOTAL (A)	NA	NA	NA
Less	EXPENSES		NA	NA	NA
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		108.775	108.750	45.913
Less	FINANCIAL EXPENSES (D)		55.949	52.344	50.884
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		52.826	56.407	(4.971)
Less/ Add	DEPRECIATION/ AMORTISATION (F)		31.814	35.073	386.360
	PROFIT BEFORE TAX (E-F) (G)		21.012	21.333	(43.607)
Less	TAX (H)		8.112	9.437	4.742
	PROFIT AFTER TAX (G-H) (I)		12.900	11.896	(48.349)
	Earnings Per Share (Rs.)		1.59	NA	NA

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
Net Profit Margin (PBT/Sales)	(%)	4.03	6.35	(19.31)
Return on Total Assets (PBT/Total Assets}	(%)	3.62	3.56	(7.93)
Return on Investment (ROI) (PBT/Net worth)		0.04	(0.31)	(5.82)
Debt Equity Ratio (Total Liability/Net worth)		23.99	(10.02)	71.26
Current Ratio (Current Asset/Current Liability)		1.34	0.87	1.56

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	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	------
22]	Litigations that the firm / promoter involved in	------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	------
26]	Buyer visit details	------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	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	No
34]	External Agency Rating, if available	Yes

FORECAST:

Even though the present situation is not favorable to the textiles industry the demand for the yarn will be expected shortly since the coming cotton season favorable to the industry and there by the yarn price will be a competitive.

The increase in yarn price and reduction in cotton price will influence the profit and your directors are expecting this season will be favorable to our Textile industry and hopeful of presenting better results in the coming years.

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U17112TN2005PTC055700
Name of the company	DIVYALAKSHMI TEXTILES PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	36, Vadugarkottai Streetaruppukottai, Virudhunagar District-626101, Tamilnadu, India Email: jayaapk@yahoo.co.in
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	80038861
Type of charge	Immovable property Book debts Movable property (not being pledge)
Particular of charge holder	The South Indian Bank Limited Anut Complex, Pandalgudi Road Junction, Aruppukottai, Virudhunagar District - 626101, Tamil Nadu, India Email: akshayasri23@gmail.com
Nature of instrument creating charge	1. Agreement of hypothecation. 2. Memorandum of deposit of title deeds.
Date of instrument Creating the charge	17.04.2010
Amount secured by the charge	Rs. 504.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest 1. CCOL :- BPLR - 2% (14% P.A) WITH MONTHLY RESTS 2. FSL :- BPLR + TP - 2% Terms of Repayment 1. CCOL : ON DEMAND 2. PERIOD OF BG : 10 YEARS Margin 1. CCOL : 25% FOR STOCK & 40% FOR BOOK DEBTS WITH COVER PERIOD 180 DAYS 2. BG / LC :10% Extent and Operation of the charge Hypothecation of all present and future exclusive charge on the entire current assets including receivables and exclusive charge on the entire fixed assets of the company excluding land and building and vehicles. EM of land measuring 21.16 acres together with all buildings existing and/or to be constructed thereon in future situated at Kulasekaranallur Village, Aruppukottai Taluk, Virudhunagar District. This charge operates to secure the loan amount of Rs.504.000 millios
Short particulars of the property or asset(s) charged (including complete address and location of the property)	1.hypothecation of all produce, goods and other movable property of any kind belonging to the company including machinery etc., which now or here after from time to time during this security shall be brought in ,stored or be in or about thier Premises OR Godowns at Kulasekaranallur Village, Thiruchuli Road, Ramasamy Nagar Post, Aruppukottai - 626159 or any other Godown(s) as approved by the bank and book debts not older than 180 days. 2. EM of immovable property belonging to the company in as depicted in item no.1 description of property of the memorandum of deposit of title deeds
Date of instrument modifying the charge	09.01.2009
Particulars of the present modification	There is no change in the overall existing loan limit of Rs. 504.000 millions, the only modification is fresh book debts facility is given as sublimt of ccol of Rs. 35.000 millions and the additional security of immovable properties of the company is being offered by way of memorandum of deposit of title deeds The other terms and conditions continue to remain the same.

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Electrical Machinery

· Testing Equipments

· Furniture and Fixture

· Vehicles

· Computers

· Generator and Diesel Tank

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.55.34
UK Pound	1	Rs.88.30
Euro	1	Rs.71.37

INFORMATION DETAILS

Report Prepared by :

MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		27

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.