MIRA INFORM REPORT

Report Date :

06.10.2012

IDENTIFICATION DETAILS

Name :	AMBADI ENTERPRISES LIMITED
Formerly Known As :	AMBADI ENTERPRISES PRIVATE LIMITED (w.e.f 14.12.1961) MURUGAPPA AGENCIES PRIVATE LIMITED THE MURUGAPPA AGENCIES LIMITED
Registered Office :	Parry House 5th Floor, No. 43 Moore Street, Chennai – 600001, Tamilnadu
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	18.11.1941
Com. Reg. No.:	18-001437
Capital Investment / Paid-up Capital :	Rs.4.800 Millions
CIN No.: [Company Identification No.]	U65991TN1941PLC001437
TAN No.: [Tax Deduction & Collection Account No.]	CHEA00303C
PAN No.: [Permanent Account No.]	AAACA6374J
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and Exporter of Home Textiles and Floor Coverings.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 1180000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an old and established company having satisfactory track. It has recorded slight increase in its sales during 2011. 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

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 :	Parry House 5th Floor, No. 43 Moore Street, Chennai – 600001, Tamilnadu, India
Tel. No.:	91-44-25306857
Fax No.:	91-44-25358114
E-Mail :	ranir@corp.murugappa.com
Head Office :	554, Udyog Vihar Phase-5, Gurgaon, Haryana, India
Tel. No.:	91-124-2398037
Fax No.:	91-124-2398032
E-Mail :	sales@ambadi.murugappa.com
Branches :	Located at: · Gurgaon · Panipat · Bhadohi · Noida · Cannanore · Shertalai · Erode · Karur · Kannur
Factory :	Located at: · Panipat · Varanasi · Alleppey · Warangal · Delhi

DIRECTORS

As on: 27.07.2012

Name :

Mr. Murugappan Muthiah Venkatachalam

Designation :

Chairman

Address :

New No.20, Old No.2, Valliappan Achi Road, Kotturpuram, Chennai – 600085, Tamilnadu, India

Date of Birth/Age :

24.11.1958

Date of Appointment :

05.02.2004

DIN No.:

00152619

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	U65993TN1980PTC008423	M M MUTHIAH SONS PRIVATE LIMITED	Director	20/09/1980	20/09/1980	-	Active	NO
2	U73100TN1983NPL010490	M.M.MUTHIAH RESEARCH FOUNDATION	Director	29/11/1983	29/11/1983	-	Active	NO
3	U01116TN1942PTC003659	AMBADI INVESTMENTS PRIVATE LIMITED	Director	25/09/1992	25/09/1992	-	Active	NO
4	U29309TN1993PLC025896	POLUTECH LIMITED	Director	29/09/1993	29/09/1993	-	Active	NO
5	U65991TN1989PLC017825	CHOLAMANDALAM FACTORING LIMITED	Director	31/03/1995	31/03/1995	-	Active	NO
6	U25209TN1995PLC033299	COROMANDEL BATHWARE LIMITED	Director	19/10/1995	19/10/1995	14/03/2008	Strike off	NO
7	U67190TN2000PLC045617	CHOLAMANDALAM DISTRIBUTION SERVICES LIMITED	Director	23/08/2000	23/08/2000	24/04/2008	Active	NO
8	U65993TN1994PLC028674	CHOLAMANDALAM SECURITIES LIMITED	Director	13/11/2000	13/11/2000	28/02/2009	Active	NO
9	L72300TN1997PLC037550	RAMCO SYSTEMS LIMITED	Director	05/04/2001	05/04/2001	-	Active	NO
10	U30007TN2000PTC045768	LASER WORDS PRIVATE LIMITED	Director	27/01/2007	25/01/2002	04/11/2011	Active	NO
11	U85320TN1999NPL041989	YOUNG PRESIDENTS ORGANISATION (CHENNAI CHAPTER)	Director	20/09/2003	20/09/2003	14/08/2010	Active	NO
12	U01119TN1977PLC070246	MURUGAPPA HOLDINGS LIMITED	Director	19/11/2003	19/11/2003	09/02/2012	Active	NO
13	U65991TN1941PLC001437	AMBADI ENTERPRISES LIMITED	Director	05/02/2004	05/02/2004	-	Active	NO
14	U29142TN1990PLC020023	PARRY ENTERPRISES INDIA LIMITED	Director	14/07/2004	14/07/2004	-	Active	NO
15	L24211TN1975PLC006989	E.I.D PARRY (INDIA) LIMITED	Director	28/04/2005	28/04/2005	29/10/2007	Active	NO
16	U24239MH1961PLC012098	USV LIMITED	Director	31/07/2006	19/09/2005	-	Active	NO
17	U17229TN2006PTC061400	PARRY MURRAY AND COMPANY FURNISHINGS AND FLOOR COVERINGS (INDIA) PRIVATE LIMITED	Director	30/10/2006	30/10/2006	-	Active	NO
18	L24120AP1961PLC000892	COROMANDEL INTERNATIONAL LIMITED	Director	24/07/2007	23/01/2007	-	Active	NO
19	U65990TN2008PTC066257	NEW AMBADI ESTATES PRIVATE LIMITED	Director	31/01/2008	31/01/2008	-	Active	NO
20	L74910TN1947PLC000343	COROMANDEL ENGINEERING COMPANY LIMITED	Managing director	26/04/2012	31/07/2009	-	Active	NO
21	U91990TZ1889GAP000136	OOTACAMUND CLUB	Director	22/11/2010	22/11/2010	-	Active	NO
22	U01132TN2011PLC079800	PARRY AGRO INDUSTRIES LIMITED	Director	18/05/2011	23/03/2011	-	Active	NO
23	L24110GJ1991PLC020753	SABERO ORGANICS GUJARAT LIMITED	Director	13/07/2012	19/12/2011	-	Active	NO

Name :

Mr. A Venkatachalam

Designation :

Director

Address :

No.3, Bishops Garden, Off. Greenways Road, Chennai – 600018, Tamilnadu, India

Date of Birth/Age :

05.09.1961

Date of Appointment :

01.10.1998

DIN No.:

00115568

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	U25209TN1992PTC023721	PLACON (INDIA) PRIVATE LIMITED	Director	29/10/1992	29/10/1992	-	Active	NO
2	U29309TN1993PLC025896	POLUTECH LIMITED	Director	29/09/1993	29/09/1993	-	Active	NO
3	U25209TN1995PLC030909	ESPIEM PLASTICSS LIMITED	Director	04/06/1998	04/06/1998	16/07/2008	Active	NO
4	U65991TN1941PLC001437	AMBADI ENTERPRISES LIMITED	Director	01/10/1998	01/10/1998	-	Active	NO
5	U70109TN2007PTC063410	GEN FOUR PROPERTIES PRIVATE LIMITED	Director	08/05/2007	08/05/2007	-	Active	NO
6	U02424KA1987PLC051014	INDFRAG LIMITED	Director	29/09/2009	20/06/2009	-	Active	NO

Name :

Mr. Palainur Balakrishnan Jayakumar

Designation :

Director

Address :

5, Habibullah Avenue, 1st Street, Anderson Road, Chennai- 600006, Tamilnadu, India

Date of Birth/Age :

27.01.1935

Date of Appointment :

31.03.1992

DIN No.:

00178693

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	U65991TN1941PLC001437	AMBADI ENTERPRISES LIMITED	Director	31/03/1992	31/03/1992	-	Active	NO
2	U74210TN1992PTC022672	GATEWAY ENGINEERING PRIVATE LIMITED	Director	14/05/1992	14/05/1992	-	Strike off	NO

Name :

Mr. Jagadish Sahni

Designation :

Director

Address :

No.4, Nawab Habibullah Avenue, III Street, Chennai – 600006, Tamilnadu, India

Date of Birth/Age :

03.10.1933

Date of Appointment :

09.06.2004

DIN No.:

00320732

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	U65191TN1986PLC035691	SOUTHERN EQUIPMENT FINANCE LIMITED	Managing director	01/10/2007	01/10/2002	24/04/2012	Active	NO
2	U65991TN1941PLC001437	AMBADI ENTERPRISES LIMITED	Director	09/06/2004	09/06/2004	-	Active	NO

Name :

Mr. Sridhar Ganesh

Designation :

Director

Address :

New No.25, Old No.10/3, Archbishop Mathias Avenue, Raja Annamalai Puram, Chennai- 600028, Tamilnadu, India

Date of Birth/Age :

31.12.1950

Date of Appointment :

24.07.2010

DIN No.:

01681018

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	L29224TN1954PLC000318	CARBORUNDUM UNIVERSAL LIMITED	Director	27/07/2007	30/04/2007	-	Active	NO
2	U30007TN2000PTC045768	LASER WORDS PRIVATE LIMITED	Director	09/09/2008	16/07/2008	04/11/2011	Active	NO
3	L24211TN1975PLC006989	E.I.D PARRY (INDIA) LIMITED	Director	29/07/2009	20/03/2009	30/10/2009	Active	NO
4	U29142TN1990PLC020023	PARRY ENTERPRISES INDIA LIMITED	Director	23/07/2010	24/10/2009	-	Active	NO
5	U65991TN1941PLC001437	AMBADI ENTERPRISES LIMITED	Director	24/07/2010	24/10/2009	-	Active	NO
6	U01119TN1977PLC070246	MURUGAPPA HOLDINGS LIMITED	Director	30/07/2010	30/10/2009	-	Active	NO
7	L74910TN1947PLC000343	COROMANDEL ENGINEERING COMPANY LIMITED	Director	29/07/2010	30/10/2009	-	Active	NO
8	U72200TN2002PLC048860	ADRENALIN ESYSTEMS LIMITED	Additional director	10/08/2011	10/08/2011	-	Active	NO
9	U01132TN2011PLC079800	PARRY AGRO INDUSTRIES LIMITED	Director	27/07/2012	03/03/2012	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 27.07.2012

Names of Shareholders	No. of Shares
A R Meenakshi	1400
M V Seetha Subbiah	1736
A Venkatachalam	25658
A Vellayan	8088
S Vellayan	26354
Meenakshi Murugappan	2100
V Arunachalam	8786
M M Muthiah	19768
M RAMASWAMY and L RAMASWAMY	112
A SOLAICH1 and L RAMASWAMY	112
PL SEETHA and L RAMASWAMY	56
M SEETHA and L RAMASWAMY	56
V Narayan	8784
M V Murugappan	51316
M V Subbiah	24958
M V Valli Murugappan	1400
Lakshmi Venkatachalam	2100
M M Veerappan	19768
M V Muthiah	38485
M M Murugappan	37436
A A Alagammai	4200
M A Alagappan	35584
Arun Alagappan	39782
M A M Arunachalam (I)	51926
M A M Arunachalam (H)	19892
M A Alagappan	480
M A Alagappan	7750
AR Kasiviswanthan	231
AR Ramanathan	230
AR Murugappan	231
M V Subramaniam	38,485
R Muthaiyah	2736
Total	480000

Equity Share Break up (Percentage of Total Equity)

As on: 27.07.2012

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Home Textiles and Floor Coverings.

Products :

Product Description	ITC Code
Cotton Hand Woven Colored Fabrics	520811.19
Other Made Up articles - Textiles	630720.10
Hand Tufted Carpet -Wool	570310.00

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel West, Mumbai - 400013, Maharashtra, India

· State Bank of India, Overseas Branch, 39 Rajaji Salai, Chennai – 600001, Tamilnadu, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2011	As on 31.03.2010
From Bank
Packing Credit and Export Document Credit	79.365	18.094
Total	79.365	18.094

Banking Relations :	--
Auditors :
Name :	Shanker Giri and Prabhakar Chartered Accountants
Address :	Guhalaya, Flat B-7, No.262(Old 179), Royapettah High Road, Mylapore, Chennai – 600004, Tamilnadu, India
Tel. No.:	91-44-24992982/ 24991345
Fax No.:	91-44-24997317
PAN No.:	AAAFS9568H
Associates Companies / Firms:	· Placon (India) Private Limited · Polutech Limited · Kadamane Estates Company · Parry Agro Industries Limited · Parry Enterprises India Limited
Subsidiary Company :	· Parry Murray and Company, UK · Parry Murray and Company Furnishings and Floor Coverings (India) Private Limited CIN No.: U17229TN2006PTC061400 · Thomas Dare Limited – UK · Parry Murray LLC - USA

CAPITAL STRUCTURE

As on: 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
2500000	Equity Shares	Rs.10/- each	Rs.25.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
480000	Equity Shares	Rs.10/- each	Rs.4.800 Millions

Note:

(Of the above 240000 Shares are allotted as fully paid up by way of Bonus Shares by Capitalisation of General Reserve.)

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		4.800	4.800	4.800
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		291.470	267.009	230.098
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		296.270	271.809	234.898
LOAN FUNDS
1] Secured Loans		79.365	18.094	80.406
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		79.365	18.094	80.406
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		375.635	289.903	315.304
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		76.758	96.095	108.840
Capital work-in-progress		0.000	0.732	0.000
INVESTMENT		116.153	93.630	84.137
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	129.214	83.044	81.001
	Sundry Debtors	100.909	81.177	101.508
	Cash & Bank Balances	16.931	9.290	28.735
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	35.808	25.796	17.081
Total Current Assets		282.862	199.307	228.325
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	63.470	60.281	62.889
	Other Current Liabilities	15.487	24.068	35.449
	Provisions	21.181	15.512	7.660
Total Current Liabilities		100.138	99.861	105.998
Net Current Assets		182.724	99.446	122.327
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		375.635	289.903	315.304

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	569.308	555.398	599.507
		Other Income	90.006	85.316	91.388
		TOTAL (A)	659.314	640.714	690.895
Less	EXPENSES
		Cost of Sales	403.848	393.054	441.371
		Employee Costs	62.963	54.970	50.945
		Other Expenses	133.963	121.687	161.962
		TOTAL (B)	600.774	569.711	654.278
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		58.540	71.003	36.617
Less	FINANCIAL EXPENSES (D)		3.766	3.277	7.440
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		54.774	67.726	29.177
Less/ Add	DEPRECIATION/ AMORTISATION (F)		15.937	16.591	16.370
	PROFIT BEFORE TAX (E-F) (G)		38.837	51.135	12.807
Less	TAX (H)		3.257	2.992	1.150
	PROFIT AFTER TAX (G-H) (I)		35.580	48.143	11.657
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		79.603	47.692	44.151
Less	APPROPRIATIONS
		Transfer to General Reserve	5.000	5.000	2.500
		Proposed Dividend	9.600	9.600	4.800
		Tax on Dividend	1.519	1.632	0.816
	BALANCE CARRIED TO THE B/S		99.064	79.603	47.692
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	536.324	534.057	564.085
	TOTAL EARNINGS		536.324	534.057	564.085
	IMPORTS
		Raw Materials & Fabrics	2.796	3.661	2.760
		Stores & Spares	0.163	0.024	0.000
		Capital Goods	0.841	0.000	4.609
	TOTAL IMPORTS		3.800	3.685	7.369
	Earnings Per Share (Rs.)		74.12	100.30	24.28

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	5.40	7.51	1.69
Net Profit Margin (PBT/Sales)	(%)	6.82	9.21	2.14
Return on Total Assets (PBT/Total Assets}	(%)	10.80	19.71	3.80
Return on Investment (ROI) (PBT/Networth)		0.13	0.19	0.05
Debt Equity Ratio (Total Liability/Networth)		0.61	0.43	0.79
Current Ratio (Current Asset/Current Liability)		2.82	2.00	2.15

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

REVIEW OF OPERATIONS:

The Company achieved a Turnover of Rs.569.308 Millions during the financial year ended 31st March 2011 as against Rs, 555.398 Millions in the previous year. The profit before tax was Rs. 38.837 Millions compared to Rs.51.135 Millions in the previous year.

The amount available for appropriation is Rs. 115.183 Millions after providing for tax and after including the balance of Rs. 79.603 Millions brought forward from the previous year and the same has been carried forward to the balance sheet.

CONTINGENT LIABILITIES:

(Rs. In Millions)

Particular	31.03.2011	31.03.2010
Guarantees given to banker on behalf of Associate Company	10.000	10.00
Guarantees issued by Bankers	1.058	0.967

FIXED ASSETS:

· Land

· Lease Hold Land

· Buildings

· Plant and Machinery

· Electrical Fittings

· Air Conditioners

· Office Equipments

· Computers

· Furniture Fittings

· Motor Vehicles

Bankers Charges Report as per Registry

Corporate identity number (CIN) or foreign company registration number of the company	U65991TN1941PLC001437
Name of the company	AMBADI ENTERPRISES LIMITED
Address of the registered office or of the principal place of business in India of the company	Parry House 5th Floor, No. 43 Moore Street, Chennai – 600001, Tamilnadu, India E-mail: ranir@corp.murugappa.com
This form is for	Creation of charge
Type of charge	· Book debts · Movable property (not being pledge) · Floating charge
Particular of charge holder	HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel West, Mumbai - 400013, Maharashtra, India E-mail: prasad@hdfcbank.com
Nature of instrument creating charge	Letter of Hypothecation of Stocks and Book Debts dated 3rd February 2010
Date of instrument Creating the charge	03.02.2010
Amount secured by the charge	Rs.60.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest At market rate or as prescribed by RBI from time to time or as mutually agreed between company and bank Terms of Repayment Repayable on demand Margin 10% or as mutually agreed between bank and company Extent and Operation of the charge First charge on pari passu basis on all the stocks and book debts of the company both present and future.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	First charge on pari passu basis on all the stocks and book debts of the company both present and future.

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.51.62
UK Pound	1	Rs.83.57
Euro	1	Rs.67.17

INFORMATION DETAILS

Report Prepared by :

VRN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		48

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.