MIRA INFORM REPORT

Report Date :

30.10.2012

IDENTIFICATION DETAILS

Name :	MM AQUA TECHNOLOGIES LIMITED
Registered Office :	Behrampur Road, Khandsa, District Gurgaon-122001, Haryana
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	02.11.1988
Com. Reg. No.:	05-035848
Capital Investment / Paid-up Capital :	Rs.55.824 Millions
CIN No.: [Company Identification No.]	U00899HR1988PLC035848
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is engaged in Manufacture of PVC Fill Media and Profiles for Application in Cooling Towers and Effluent and Water Treatment Plant and Dealing in Related Goods.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Maximum Credit Limit :	USD 638000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. 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 of 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 :	Behrampur Road, Khandsa, District Gurgaon-122001, Haryana, India
Tel. No.:	91-124-2215134/2215253
Fax No.:	91-124-2215135
E-Mail :	dollyroy@mmaqua.com

DIRECTORS

AS ON 01.06.2012

Name :

Mr. Madan Mohan Mohanka

Designation :

Managing Director

Address :

146, Block G, New Alipore, Kolkata-700053, West Bengal, India

Date of Birth/Age :

13.08.1943

Date of Appointment :

02.11.1988

Din No.:

00049388

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	Company/ LLP Status	Defaulting status
1	U25199WB1976PLC030532	TEGA INDUSTRIES LIMITED	Managing director	01/03/2012	15/05/1976	Active	NO
2	U74899DL1989PTC035848	K. V. ESTATES PRIVATE LIMITED	Director	02/11/1988	02/11/1988	Not Available for eFiling	NO
3	U00899HR1988PLC035848	MM AQUA TECHNOLOGIES LIMITED	Managing director	02/11/1988	02/11/1988	Active	NO
4	U29191DL1990PLC042369	MM AQUA TECHNOLOGIES LIMITED	Managing director	12/12/1990	12/12/1990	Not Available for eFiling	NO
5	U25192WB1991PLC052259	HOSCH EQUIPMENT (INDIA) LTD	Director	10/07/1991	10/07/1991	Active	NO
6	U26999WB1995PTC068552	HIGH VALUE EQUIPMENT PRIVATE LIMITED	Whole-time director	21/02/1995	21/02/1995	Amalgamated	NO
7	U02001WB1996PLC135656	MAPLE ORGTECH (INDIA) LIMITED	Director	10/10/2001	10/10/2001	Active	NO
8	L65993WB1992PLC056788	MARUDHAR FOOD AND CREDIT LIMITED	Whole-time director	26/05/2005	26/05/2005	Active	NO
9	U29306WB2007PLC112823	MM-NERIFILL (INDIA) LIMITED	Director	27/01/2007	27/01/2007	Active	NO
10	U67120WB1996PTC079527	NIHAL FISCAL SERVICES PRIVATE LIMITED	Director	01/02/2007	01/02/2007	Active	NO
11	U74910WB2007PTC114282	TRAFALGAR CONSULTING INTERNATIONAL COMPANY PRIVATE LIMITED	Director	20/03/2007	20/03/2007	Active	NO
12	U45206HR2008PTC038556	MM ROSEWOOD BUILDINFRA PRIVATE LIMITED	Director	28/11/2008	28/11/2008	Active	NO
13	U05004HR2008PTC038600	MM AQUA FILL PRIVATE LIMITED	Director	11/12/2008	11/12/2008	Active	NO
14	U25111WB2010PLC152592	TEGA INDUSTRIES (SEZ) LIMITED	Director	26/08/2010	26/08/2010	Active	NO
15	U25190WB2012PLC172591	TRU-TRAC ROLLERS (INDIA) LIMITED	Director	19/01/2012	19/01/2012	Active	NO

Name :

Mr. Mehul Mohanka

Designation :

Director

Address :

146, Block G, New Alipore, Kolkata-700053, West Bengal, India

Date of Birth/Age :

03.02.1975

Date of Appointment :

22.06.1994

Din No.:

00052134

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	U00899HR1988PLC035848	MM AQUA TECHNOLOGIES LIMITED	Director	22/06/1994	22/06/1994	-	Active	NO
2	U25199WB1976PLC030532	TEGA INDUSTRIES LIMITED	Whole-time director	01/06/2008	06/06/2002	-	Active	NO
3	U25192WB1991PLC052259	HOSCH EQUIPMENT (INDIA) LIMITED	Whole-time director	15/10/2004	15/10/2004	21/12/2011	Active	NO
4	L65993WB1992PLC056788	MARUDHAR FOOD AND CREDIT LIMITED	Whole-time director	26/05/2005	26/05/2005	-	Active	NO
5	U67120WB1996PTC079527	NIHAL FISCAL SERVICES PRIVATE LIMITED	Director	01/02/2007	01/02/2007	-	Active	NO
6	U74910WB2007PTC114282	TRAFALGAR CONSULTING INTERNATIONAL COMPANY PRIVATE LIMITED	Director	20/03/2007	20/03/2007	-	Active	NO
7	U02001WB1996PLC135656	MAPLE ORGTECH (INDIA) LIMITED	Director	29/09/2008	16/05/2008	-	Active	NO
8	U45206HR2008PTC038556	MM ROSEWOOD BUILDINFRA PRIVATE LIMITED	Director	28/11/2008	28/11/2008	-	Active	NO
9	U05004HR2008PTC038600	MM AQUA FILL PRIVATE LIMITED	Director	11/12/2008	11/12/2008	-	Active	NO
10	U25111WB2010PLC152592	TEGA INDUSTRIES (SEZ) LIMITED	Director	26/08/2010	26/08/2010	-	Active	NO
11	U25190WB2012PLC172591	TRU-TRAC ROLLERS (INDIA) LIMITED	Director	19/01/2012	19/01/2012	-	Active	NO

Name :

Mr. Amar Nath Sadhu

Designation :

Director

Address :

73/1A, Palm Avenue, Kolkata-700047, West Bengal, India

Date of Birth/Age :

02.10.1939

Date of Appointment :

07.04.1996

Din No.:

00052579

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	Company/ LLP Status	Defaulting status
1	U00899HR1988PLC035848	MM AQUA TECHNOLOGIES LIMITED	Director	07/04/1996	07/04/1996	Active	NO
2	U74899DL1989PTC035848	K. V. ESTATES PRIVATE LIMITED	Director	07/04/1996	07/04/1996	Not Available for eFiling	NO
3	L27202OR1989PLC002971	IFGL REFRACTORIES LIMITED	Director	29/01/2001	29/01/2001	Active	NO
4	U25199WB1976PLC030532	TEGA INDUSTRIES LIMITED	Director	22/11/2001	22/11/2001	Active	NO
5	U85195WB1998PTC088562	HERITAGE HEALTH TPA PRIVATE LIMITED	Director	07/06/2002	07/06/2002	Active	NO
6	U19129WB1981PLC034337	KHADIM INDIA LIMITED	Director	08/03/2006	08/03/2006	Active	NO
7	U25111WB2010PLC152592	TEGA INDUSTRIES (SEZ) LIMITED	Director	26/08/2010	26/08/2010	Active	NO

Name :

Mr. Manoj Basu

Designation :

Director

Address :

18/1C, Uday Sankar Sarani, Golf Garden, Kolkata-700053, West Bengal, India

Date of Birth/Age :

01.07.1946

Date of Appointment :

15.02.1998

Din No.:

00591088

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	Company/ LLP Status	Defaulting status
1	U00899HR1988PLC035848	MM AQUA TECHNOLOGIES LIMITED	Director	15/02/1998	15/02/1998	Active	NO
2	U74899DL1989PTC035848	K. V. ESTATES PRIVATE LIMITED	Director	15/02/1998	15/02/1998	Not Available for eFiling	NO
3	L65993WB1992PLC056788	MARUDHAR FOOD AND CREDIT LIMITED	Director	26/05/2005	26/05/2005	Active	NO
4	U27203WB1975PLC029939	T P W ENGINEERING LIMITED	Director	23/11/2006	23/11/2006	Active	NO

Name :

Mr. Bhalchandra Bhaskar Bhalerao

Designation :

Director

Address :

284, Hanuman Nagar, Nagpur-440009, Maharashtra, India

Date of Birth/Age :

14.02.1937

Date of Appointment :

17.08.2000

Din No.:

02548003

Name :

Mr. Viji Aravamudhan Iyengar

Designation :

Director

Address :

AA-17, Sector I, Salt Lake City, Kolkata-700064, Maharashtra, India

Date of Birth/Age :

10.08.1938

Date of Appointment :

28.04.2006

Din No.:

00064970

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	L27109WB1928PLC006190	BESCO LIMITED	Director	29/03/1993	29/03/1993	-	Active	NO
2	U85195WB1990SGC049515	GLUCONATE HEALTH LIMITED	Director	27/03/2001	27/03/2001	19/07/2007	Active	NO
3	U02001WB1996PLC135656	MAPLE ORGTECH (INDIA) LIMITED	Additional director	18/07/2008	10/10/2001	-	Active	NO
4	U85195WB1961SGC025168	ELECTRO MEDICAL AND ALLIED INDUSTRIES LTD	Director	29/05/2002	29/05/2002	15/03/2010	Active	NO
5	U25199WB1976PLC030532	TEGA INDUSTRIES LIMITED	Director	06/06/2002	06/06/2002	-	Active	NO
6	L51909WB1947PLC014515	JARDINE HENDERSON LIMITED	Director	25/07/2002	25/07/2002	-	Active	NO
7	L51109WB1938PLC009490	ALBERT DAVID LTD	Director	31/10/2002	31/10/2002	-	Active	NO
8	L65993WB1992PLC056788	MARUDHAR FOOD AND CREDIT LTD	Director	29/05/2005	29/05/2005	-	Active	NO
9	U74899DL1989PTC035848	K. V. ESTATES PRIVATE LIMITED	Director	28/04/2006	28/04/2006	-	Not Available for eFiling	NO
10	U00899HR1988PLC035848	MM AQUA TECHNOLOGIES LIMITED	Director	28/06/2006	28/06/2006	-	Active	NO
11	L67190WB1983PLC035658	VCK CAPITAL MARKET SERVICES LIMITED	Director	17/09/2008	31/07/2008	-	Active	NO
12	U93000MH2011PTC218782	JUGAAD VENTURES PRIVATE LIMITED	Director	17/06/2011	17/06/2011	-	Active	NO
13	U25111WB2010PLC152592	TEGA INDUSTRIES (SEZ) LIMITED	Director	29/09/2012	20/12/2011	-	Active	NO
14	U25192WB1991PLC052259	HOSCH EQUIPMENT (INDIA) LIMITED	Director	27/07/2012	21/12/2011	-	Active	NO
15	U25190WB2012PLC172591	TRU-TRAC ROLLERS (INDIA) LIMITED	Director	19/01/2012	19/01/2012	-	Active	NO
16	U45202WB2003NPL096324	CALCUTTA PROMOTIONS	Director	26/05/2012	31/03/2012	-	Active	NO

Name :

Mr. Raj Kumar Pal

Designation :

Director

Address :

Flat No. B 103, F/F Navrattan Apartment, Plot No. 7A, Sector 23, Dwarka, New Delhi-110075, India

Date of Birth/Age :

09.04.1954

Date of Appointment :

31.03.2008

Din No.:

01962212

Name :

Mr. Kalyan Kumar Chattopadhyay

Designation :

Director

Address :

4 C, 4D, 63, Purna Das Road, Kolkata-700029, West Bengal, India

Date of Birth/Age :

05.10.1948

Date of Appointment :

10.05.2011

Din No.:

01336202

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	U45203WB2006PLC111712	JAIN INFRAPROJECTS LIMITED	Whole-time director	19/02/2007	19/02/2007	31/10/2007	Active	NO
2	L51900MH1985PLC035670	UNIWORTH SECURITIES LIMITED	Additional director	29/10/2009	29/10/2009	13/08/2010	Active	NO
3	L51226WB1992PLC055739	UNIWORTH INTERNATIONAL LIMITED	Additional director	30/10/2009	30/10/2009	12/08/2010	Active	NO
4	U01122MH1997PLC105543	INDOWORTH INDIA LIMITED	Additional director	30/10/2009	30/10/2009	31/07/2010	Active	NO
5	L17299WB1992PLC055442	UNIWORTH TEXTILES LIMITED	Additional director	30/10/2009	30/10/2009	12/08/2010	Active	NO
6	U00899HR1988PLC035848	MM AQUA TECHNOLOGIES LIMITED	Director	30/09/2011	10/05/2011	-	Active	NO
7	U25199WB1976PLC030532	TEGA INDUSTRIES LIMITED	Whole-time director	30/09/2011	11/05/2011	-	Active	NO

Name :

Mr. Manish Mohanka

Designation :

Whole Time Director

Address :

147, Block G, New Alipore, Kolkata-700053, West Bengal, India

Date of Birth/Age :

20.05.1971

Date of Appointment :

30.11.2009

Din No.:

00052283

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	Company/ LLP Status	Defaulting status
1	U27203WB1975PLC029939	T P W ENGINEERING LIMITED	Whole-time director	30/09/1993	30/09/1993	Active	NO
2	U29306WB2007PLC112823	MM-NERIFILL (INDIA) LIMITED	Director	27/01/2007	27/01/2007	Active	NO
3	U00899HR1988PLC035848	MM AQUA TECHNOLOGIES LIMITED	Whole-time director	01/12/2009	01/12/2009	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 01.06.2012

Names of Shareholders	No. of Shares
Madan Mohan Mohanka	805510
Manoj Mohanka	412320
Madan Mohan Mohanka HUF	70350
Manish Mohanka	300000
Marudhar Food and Credit Limited, India	1138500
Mehul Mohanka HUF	8500
Nameeta Redhu Mohanka	100
Nihal Fiscal Services Private Limited, India	2847120
TOTAL	5582400

AS ON 01.06.2012

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	71.00
Directors or relatives of directors	29.00
TOTAL	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in Manufacture of PVC Fill Media and Profiles for Application in Cooling Towers and Effluent and Water Treatment Plant and Dealing in Related Goods.

PRODUCTION STATUS [AS ON 31.03.2011]

Particulars	Unit	Licensed Capacity	Installed Capacity *	Actual Production
PVC Fills and Profiles	Tonnes	5225	5225	5146.45

NOTE: * As certified by the Management and not verified by the auditors, being a technical matter.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Citi Bank N.A., DLF Square, M Block, Jacaranda Marg, DLF City, Phase II, Gurgaon-122002, Haryana, India

Facilities :

Secured Loan	As on 31.03.2011 [Rs. in Millions]	As on 31.03.2010 [Rs. in Millions]
Rupee term loans banks	84.015	55.865
Rupee term loans financial institutions	0.821	0.821
Interest accrued due other debt	0.037	0.000
TOTAL	84.873	56.686

Banking Relations :	--
Auditors :
Name :	Goenka Suresh and Associates Chartered Accountants
Address :	Chitrakoot Building (North), Office Number 26, Second Floor, 230 A, AJC Bose Road, Kolkata-700020, West Bengal, India
PAN No:	ADRPG5573G
Holding Company :	Nihal Fiscal Services Private Limited
Fellow Subsidiary :	· Tega Industries Limited · Maple Orgtech (India) Limited
Associates :	· TPW Engineering Limited · Marudhar Food and Credit Limited · Hosch Equipment (India) Private Limited · Madan and Manju Mohanka Foundation Trust

CAPITAL STRUCTURE

AS ON 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
6000000	Equity Shares	Rs.10/- each	Rs.60.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5582400	Equity Shares	Rs.10/- each	Rs.55.824 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		55.824	55.824	55.824
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		103.840	89.099	66.652
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		159.664	144.923	122.476
LOAN FUNDS
1] Secured Loans		84.873	56.686	55.306
2] Unsecured Loans		0.000	0.000	0.153
TOTAL BORROWING		84.873	56.686	55.459
DEFERRED TAX LIABILITIES		1.286	0.648	1.488
TOTAL		245.823	202.257	179.423
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		77.881	61.656	66.547
Capital work-in-progress		3.284	4.863	0.413
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	69.788	35.905	43.159
	Sundry Debtors	113.156	126.447	82.196
	Cash & Bank Balances	6.634	5.666	4.429
	Other Current Assets	1.063	0.579	1.379
	Loans & Advances	10.389	13.125	12.373
Total Current Assets		201.030	181.722	143.536
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	26.376	24.573	17.000
	Other Current Liabilities	7.525	5.322	2.909
	Provisions	2.471	16.089	11.304
Total Current Liabilities		36.372	45.984	31.213
Net Current Assets		164.658	135.738	112.323
MISCELLANEOUS EXPENSES		0.000	0.000	0.140
TOTAL		245.823	202.257	179.423

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	439.906	430.685	306.104
		Other Income	4.365	6.920	2.051
		TOTAL (A)	444.271	437.605	308.155
Less	EXPENSES
		Consumption Materials Changes Inventories	282.515	272.631
		Manufacturing Services Costs	42.747	34.867	261.433
		Employee Related Expenses	35.405	30.025
		Administrative Selling Other Expenses	27.255	30.317
		TOTAL (B)	387.922	367.840	261.433
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		56.349	69.765	46.722
Less	FINANCIAL EXPENSES (D)		6.283	6.547	8.181
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		50.066	63.218	38.541
Less/ Add	DEPRECIATION/ AMORTISATION (F)		8.492	8.943	9.630
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		41.574	54.275	28.911
Less	TAX (H)		13.814	18.796	10.061
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		27.760	35.479	18.850
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		85.074	66.152	55.638
Less	APPROPRIATIONS
		Transfer to General Reserve		3.525	0.500
		Interim Dividend		11.165	5.582
		Proposed Final Dividend	15.796	0.000	1.116
		Tax on Dividend		1.867	1.138
	BALANCE CARRIED TO THE B/S		97.038	85.074	66.152
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings		33.727	39.914
		Other Earnings		0.006	0.000
	TOTAL EARNINGS		48.347	33.733	39.914
	IMPORTS
		Raw Materials		133.812	108.694
		Capital Goods	121.542	4.123	2.336
		Bought-Out Goods [Including WIP]		0.000	1.090
	TOTAL IMPORTS		121.542	137.935	112.120
	Earnings / (Loss) Per Share (Rs.)		4.97	6.36	3.38

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	6.25	8.11	6.12
Net Profit Margin (PBT/Sales)	(%)	9.45	12.60	9.44
Return on Total Assets (PBT/Total Assets}	(%)	14.91	22.30	13.76
Return on Investment (ROI) (PBT/Networth)		0.26	0.37	0.23
Debt Equity Ratio (Total Liability/Networth)		0.76	0.71	0.71
Current Ratio (Current Asset/Current Liability)		5.53	3.95	4.60

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

SALES AND OTHER INCOME:

Planned Strategy during the worst meltdown faced during the year brought Rs.444.271 Millions as the sales and other income for the Company as against Rs.437.605 Millions in the previous year. The Company has exported goods worth Rs.91.590 Millions as against Rs.33.720 Millions during the previous year.

BUSINESS PROSPECTS:

In view of the global financial turmoil that started from mid-2008 and continuing till the year there is a slight decrease in demand of the Company's products. The Directors expect that the performance of the Company will improve in the current year.

BANKERS CHARGES REPORT AS PER REGISTRY

This form is for	Creation of charge
Corporate identity number of the company	U00899HR1988PLC035848
Name of the company	MM AQUA TECHNOLOGIES LIMITED
Address of the registered office or of the principal place of business in India of the company	Behrampur Road, Khandsa, District Gurgaon-122001, Haryana, India
Type of charge	Movable Property [not being pledge] Others
Particular of charge holder	Citi Bank N.A., DLF Square, M Block, Jacaranda Marg, DLF City, Phase II, Gurgaon-122002, Haryana, India
Email	roc@sdpa.in
Nature of description of the instrument creating or modifying the charge	Secured Term Loan Agreement where the security is by way of hypothecation of plant and machinery.
Date of instrument Creating the charge	10.04.2012
Amount secured by the charge	Rs.30.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest @ 13% per annum. Terms of Repayment Repayable in 12 equal quarterly installments. Repayment starts on 30.07.2012 and Repayment ends on 30.07.2015 Margin 20% Extent and Operation of the charge First exclusive charge on all the borrowers’ present and future movable plant, machinery, vehicles and equipment belonging to the borrower in favour of Citibank N.A for the repayment of all monies in respect of the credit facility, including outstanding balance and also all interest, costs, charges and expenses.
Short particulars of the property charged	All the borrowers present and future movable plant, machinery, vehicles and equipment belonging to the borrower.

FIXED ASSETS:

· Freehold Land

· Building

· Plant and Machinery

· Office Equipments

· Furniture and Fixtures

· Vehicles

· Technical Know How Free

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.53.81
UK Pound	1	Rs.86.52
Euro	1	Rs.69.50

INFORMATION DETAILS

Report Prepared by :

TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		46

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.