MIRA INFORM REPORT

Report Date :

03.09.2012

IDENTIFICATION DETAILS

Name :	ENERGY LEADER BATTERIES INDIA PRIVATE LIMITED (w.e.f. 08.02.2012)
Formerly Known As :	ENERGY LEADER BATTERIES INDIA LIMITED
Registered Office :	G2, Geethika Residency, Srinagar Colony, Near Satya Sai Nigamagamam, Hyderabad – 500073, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	06.02.2007
Com. Reg. No.:	01-052642
Capital Investment / Paid-up Capital :	Rs. 159.024 Millions
CIN No.: [Company Identification No.]	U74999AP2007PTC052642
TAN No.: [Tax Deduction & Collection Account No.]	HYDE01419F
PAN No.: [Permanent Account No.]	AABCE7093F
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Industrial Batteries.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Maximum Credit Limit :	USD 430000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track. There appears some accumulated losses recorded by the company. Profitability of the company is under pressure. However, trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some cautions.

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	CARE
Rating	A4 (Short Term)
Rating Explanation	This rating are considered to have minimal degree of safety regarding timely payment of financial obligations. Such instruments carry very high credit risk and susceptible to default.
Date	April, 2011

Rating Agency Name	CARE
Rating	B (Long Term)
Rating Explanation	This rating are considered to have high risk of default regarding timely servicing of financial obligation.
Date	April, 2011

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 :	G2, Geethika Residency, Srinagar Colony, Near Satya Sai Nigamagamam, Hyderabad – 500073, Andhra Pradesh, India
Tel. No.:	91-40-44501234
Fax No.:	91-40-23305524
E-Mail :	psr786@gmail.com accounts@energyleader.in hydaccounts@energyleader.in
Website :	http://www.energyleader.in
Corporate Office :	303, Encon Lake Melody Apartment, Rajbhavan Road, Somajiguda, Hyderabad – 500082, Andhra Pradesh, India
Tel. No.:	91-40-44501234
Fax No.:	91-40-23305524
E-Mail :	contact@energyleader.in
Factory 1 :	Survey No. 118, 135, 137 and 139 Narasimha Rao Palem (V), Veerullapadu (M), Krishna District, - 521181, Andhra Pradesh, India
Tel. No.:	91-8678-201214 / 201215
Fax No.:	91-8678-201237
E-Mail :	service@energyleader.in

DIRECTORS

As on 24.09.2011

Name :

Mr. Srinivasa Rao Paturi

Designation :

Managing director

Address :

G2, Geethika Residency, Near Satya Sai Nigamagamam, Srinagar Colony, Hyderabad- 500073, Andhra Pradesh, India

Date of Appointment :

05.08.2008

DIN No.:

01665104

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	U74999AP2007PTC052642	ENERGY LEADER BATTERIES INDIA PRIVATE LIMITED	Managing director	05/08/2008	13/04/2007	-	Active	NO
2	U17291AP2011PTC074448	WHITE GOLD INDUSTRIES (INDIA) PRIVATE LIMITED	Director	12/05/2011	12/05/2011	-	Active	NO

Name :

Mr. Venkat Vallabhaneni

Designation :

Director

Address :

B-3, Stone Vally Apartments, Road No. 4, Banjara Hills, Hyderabad 500034, Andhra Pradesh, India

Date of Appointment :

06.02.2007

DIN No.:

01726792

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	U74999AP2007PTC052642	ENERGY LEADER BATTERIES INDIA PRIVATE LIMITED	Director	06/02/2007	06/02/2007	-	Active	NO
2	U72900MH2004PTC149417	BA CONTINUUM PRIVATE LIMITED	Director	29/09/2009	31/08/2009	-	Amalgamated	NO
3	U85100AP2011PTC078079	E HEALTH ACCESS PRIVATE LIMITED	Additional director	07/01/2012	07/01/2012	-	Active	NO

Name :

Mr. Robert Hudson

Designation :

Additional director

Address :

9 Tippet Close, Blackburn BB2 3WX, Blackburn

Date of Birth :

10.02.1956

Date of Appointment :

28.03.2012

DIN No.:

03048180

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	U29268MH2009PTC196299	ENERSYS BATTERY PRIVATE LIMITED	Managing director	30/09/2010	29/04/2010	-	Active	NO
2	U74999AP2007PTC052642	ENERGY LEADER BATTERIES INDIA PRIVATE LIMITED	Additional director	28/03/2012	28/03/2012	-	Active	NO

Name :

Mr. Richard William Zuidema

Designation :

Additional director

Address :

1932 Wickford Place, Wyomissing PA, Pennsylvania, 19610

Date of Birth :

21.09.1948

Date of Appointment :

28.03.2012

DIN No.:

02902761

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	U29268MH2009PTC196299	ENERSYS BATTERY PRIVATE LIMITED	Director	30/09/2010	21/01/2010	-	Active	NO
2	U74999AP2007PTC052642	ENERGY LEADER BATTERIES INDIA PRIVATE LIMITED	Additional director	28/03/2012	28/03/2012	-	Active	NO

Name :

Mr. David Marc Shaffer

Designation :

Additional director

Address :

1 Grange Garden, #07-05, Singapore, 249631

Date of Birth :

19.05.1965

Date of Appointment :

28.03.2012

DIN No.:

02902802

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	U29268MH2009PTC196299	ENERSYS BATTERY PRIVATE LIMITED	Director	30/09/2010	21/01/2010	-	Active	NO
2	U74999AP2007PTC052642	ENERGY LEADER BATTERIES INDIA PRIVATE LIMITED	Additional director	28/03/2012	28/03/2012	-	Active	NO

Audit Committee:

· Mr. A.P. Rao (Chairman)

· Mr. T. Hanuman Chowdary(Member)

· Mr. Venkat Vallabhaneni(Member)

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 24.09.2011

Names of Shareholders	No. of Shares
Srinivasa Rao Paturi	2643700
Vijaya Lakshmi Paturi	531200
Achanta Pitcheswara Rao	482500
Venkat Vallabhaneni	5663530
Suparna Vallabhaneni	2400
T. Prasada Roa	297900
N. Tirupataiah	731400
APR Investment and Leasing Private Limited, India	200000
Shanti Sri Atluri	230000
Achanta Srikanth	149500
Uppala Kantha Roa	3497500
Kasivisweswara Rao	255200
Rajaya Lakashmi	29360
N. Subadhra	13120
Jagan Mohan Rao	94220
T. Sumanth Kumar	590900
Atluri Raghurama Brahmam	120000
N. Harikrishna	200000
N. Sulochana	170000
Total	15902430

List of Allottees

As on 28.03.2012

Names of Allottee	No. of Shares Allotted
EnerSys Reserve Power Pte. Limited, Singapore	4689431

As on 24.09.2011

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Bodies corporate	1.26
Directors or relatives of Directors	76.74
Other top fifty shareholders	22.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Industrial Batteries.
Products :	Industrial Batteries

PRODUCTION STATUS

As on 31.03.2011

Particulars	2010-2011
Licensed Capacity (Battery Manufacturing Plant)	Not Applicable
Installed Capacity ((Battery Manufacturing Plant)	3600 lac/A.H. Per Annum
Actual Production (Industrial Batteries)	546.21 lac A.H.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• Indian Bank, Mogalrajapuram, M. G. Road, Vijayawada - 520010, Andhra Pradesh, India

• Central Bank of India, Benz Circle Branch, Benz circle, Vijayawada, Andhra Pradesh, India

• Saptagiri Grameena Bank, Patamata, Vijayawada, Andhra Pradesh, India

• Indian Bank, Imdad Garh Building, Sivalayam Building, Ijayawada - 520001, Andhra Pradesh, India

• ICICI Bank Limited

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
(i) Loans and Advances from Banks
(a) Term Loans from:
- Indian Bank	158.657	138.019
- Central Bank of India	23.988	25.244
- Saptagiri Grameena Bank	105.873	119.171
(b) Cash Credit from:
- Central Bank of India	91.970	70.841
- Indian Bank	137.376	97.605
(c) Hire Purchase Loan from :
- ICICI Bank Limited	0.000	0.050
(ii) Loans and Advances From Others
- Hire purchase Loan from Reliance Capital Limited	0.000	0.056
- Hire purchase Loan from Tata Capital Limited	0.359	0.447
Total	518.223	451.433

Note:

1. Loans from Indian Bank, Central Bank of India and Saptagiri Grameena Bank aggregating to

(i) working capital limits of Rs.240.000 Millions (Previous year Rs.280.000 Millions); outstanding - Rs.229.346 Millions (Previous year Rs. 168.446 Millions) and

(ii) Term loans limit of Rs.300.200 Millions (Previous year Rs.300.200 Millions); outstanding - Rs.288.518 Millions (Previous year Rs.282.433 Millions) are secured by first pari passu charge by way of hypothecation and equitable mortgage of all chargeable immovable and movable fixed assets, other than the assets acquired with Hire Purchase Loans, and all current assets including stocks of Raw materials, Stock in process, Finished goods, Stores and Spares and Book debts.

2. Hire purchase loans are secured by hypothecation of the assets acquired with the loan amounts.

Unsecured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
From Directors	8.000	0.000
Total	8.000	0.000

Banking Relations :	--
Statutory Auditors :
Name :	Sarathy and Balu Chartered Accountants
Address :	# 12, Master Sai Apartments, Somajiguda, Hyderabad – 500 082, Andhra Pradesh, India
Tel No.:	91-40-23312442 / 23396336
Fax No.:	91-40-23322463
E-mail :	jv9009@hotmail.com
Internal Auditors :	P. I. Ramana and Associates Chartered Accountants
Address :	Vijayawada, Andhra Pradesh, India

CAPITAL STRUCTURE

After 24.09.2011

Authorized Capital: Rs. 250.000 millions

Issued, Subscribed & Paid-up Capital: Rs. 210.975 millions

As on 24.09.2011

Authorized Capital:

No. of Shares	Type	Value	Amount
16000000	Equity Shares	Rs.10/- each	Rs.160.000 Millions

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
15902430	Equity Shares	Rs.10/- each	Rs.159.024 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		159.024	147.924	134.538
2] Share Application Money		2.000	11.100	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		(53.257)	(33.330)	(25.683)
NETWORTH		107.767	125.694	108.855
LOAN FUNDS
1] Secured Loans		518.223	451.433	304.780
2] Unsecured Loans		8.000	0.000	0.000
TOTAL BORROWING		526.223	451.433	304.780
DEFERRED TAX LIABILITIES		17.120	12.513	4.126
TOTAL		651.110	589.640	417.761
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		311.016	319.904	277.140
Capital work-in-progress		6.269	2.944	14.936
INVESTMENT		0.011	0.011	0.011
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	172.495	149.875	75.938
	Sundry Debtors	227.770	110.436	9.015
	Cash & Bank Balances	23.546	38.095	19.788
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	34.721	45.413	43.459
Total Current Assets		458.532	343.819	148.200
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	116.595	68.927	17.998
	Other Current Liabilities	4.653	5.967	3.071
	Provisions	3.470	2.144	2.337
Total Current Liabilities		124.718	77.038	23.406
Net Current Assets		333.814	266.781	124.794
MISCELLANEOUS EXPENSES		0.000	0.000	0.880
TOTAL		651.110	589.640	417.761

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	469.624	296.440	20.251
		Other Income	2.457	8.097	0.096
		TOTAL (A)	472.081	304.537	20.347
Less	EXPENSES
		Manufacturing Expenses	358.026	232.656	42.603
		Payments and Benefits to Employees	33.382	26.999	8.116
		Administration, Selling and General Expenses	36.606	18.634	11.076
		Amortisation of Preliminary Expenses	0.000	0.880	0.220
		(Increase) / Decrease in stock	(19.629)	(36.034)	(37.804)
		TOTAL (B)	408.385	243.135	24.211
Less	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		63.696	61.402	(3.864)
Less	FINANCIAL EXPENSES (D)		64.366	47.404	12.817
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(0.670)	13.998	(16.681)
Less/ Add	DEPRECIATION (F)		14.650	13.257	4.681
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)		(15.320)	0.741	(21.362)
Less	TAX (H)		4.607	8.387	4.322
	PROFIT/(LOSS) AFTER TAX (G-H) (I)		(19.927)	(7.646)	(25.684)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(33.330)	(25.684)	0.000
	BALANCE CARRIED TO THE B/S		(53.257)	(33.330)	(25.684)
	IMPORTS
		Raw Materials	153.602	164.700	69.627
		Capital Goods	3.394	5.962	68.395
	TOTAL IMPORTS		156.996	170.662	138.022
	Earnings/(Loss) Per Share (Rs.)		(1.00)	(1.00)	(2.00)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	(4.22)	(2.51)	(126.23)
Net Profit Margin (PBT/Sales)	(%)	(3.26)	0.25	(105.49)
Return on Total Assets (PBT/Total Assets}	(%)	(1.99)	0.11	(5.02)
Return on Investment (ROI) (PBT/Networth)		(0.14)	0.01	(0.20)
Debt Equity Ratio (Total Liability/Networth)		6.04	4.20	3.01
Current Ratio (Current Asset/Current Liability)		3.68	4.46	6.33

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	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	Yes

CONTINGENT LIABILITIES AS ON 31.03.2011

1. Letters of Credit (LCs) opened by Bankers on behalf of the Company and not provided for in the books, as the same are not yet crystallized, Rs.84.542 Millions (Prev. Year Rs. 108.864 Millions)
2. Bank guarantees given by the banks on behalf the company Rs.54.887 Millions. (Prev. Year- Rs.23.000 Millions)
3. Estimated amount of contracts remaining to be executed on capital account and not provided for Rs. 2.000 Millions (Prev. Year Rs.31.778 Millions).

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U74999AP2007PLC052642
Name of the company	ENERGY LEADER BATTERIES INDIA LIMITED
Address of the registered office or of the principal place of business in India of the company	G2, Geethika Residency, Srinagar Colony, Near Satya Sai Nigamagamam, Hyderabad – 500073, Andhra Pradesh, India E-Mail : psr786@gmail.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10081038
Type of charge	Immovable property Any interest in immovable property Book debts Movable property (not being pledge) Others (stock, stores and spare parts)
Particular of charge holder	Indian Bank, Mogalrajapuram, M. G. Road, Vijayawada - 520010, Andhra Pradesh, India E-mail : mogalrajapuram@indianbank.co.in
Nature of instrument creating charge	1. Supplemental Deed of Hypothecation dated 23.11.2011. 2. Supplemental Working Capital Consortium Agreement dated 23.11.2011. 3. Supplemental Interse Agreement dated 23.11.2011. 4. Memorandum of Entry (Constructive Deliver)-Mortgage by the borrower by way of deposit of tittle deeds with the lead bank-further mortgage on same Properties for additional facilities dated 23.11.2011.
Date of instrument Creating the charge	23.11.2011
Amount secured by the charge	Rs.765.300 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Indian Bank: MTL: BR + TP (1.5%) + Spread of (2.75%) + 50% = 15.50%, OCC: BR + TP of 0.5% + spread of 3.25 = 14.50%. Central Bank of India: MTL: Base Rate + 3.75% = 15.50%, OCC: Base Rate + 4.75% = 14.50%. SGB: MTL = PLR (Floating) = 15%. Terms of Repayment Existing term loans of Rs. 264.200 Millions will be repayable in 19 quarterly installments commencing from December, 2011. Existing term loans of Rs. 21.100 Millions will be repayable in 19 quarterly installments commencing from December, 2011. Margin Indian Bank (in short IB) - Term Loans I to IV - 34.45%; Term Loan V - 34.78%; OCC 25% on Stocks and Book Debts; ILC and Performance Guarantee-10% . Central Bank of India(in short CBI) - Term Loans I to IV - 34.45% ; Term Loan V - 34.78%; OCC 25% on Stocks and Book Debts ; ILC - 25%, and Performance Guarantee - 10%. Sapthagiri Grameena Bank (in short SGB) - Term Loans I to IV - 34.45% ; Term Loan V - 34.78%. Extent and Operation of the charge In this Consortium finance, Indian Bank is the Lead Banker. First pari passu charge created by the Hypothecation and equitable mortgage on all the current assets and all immovable properties fixed assets of the company in favor of Indian Bank and Central Bank of India. First pari passu charge created by way of Hypothecation and equitable mortgage on all movable and immovable fixed assets only of the company in favor of Sapthagiri Grameena Bank Others 1. Above said Charge is created in favour of Indian Bank, Mogalrajapuram Branch, Vijayawada-lead Banker for an amount of Rs.444.800 Millions (OCC-Rs.180.000 Millions, LC-Rs.60.000 Millions, BG-Rs. 48.000 Millions, TL-Rs. 156.800 Millions) 2. Above said Charge is created in favour of Central Bank of India, Benz circle, Vijayawada for an amount of Rs. 215.900 Millions (OCC-Rs.120.000 Millions, LC-Rs.40.000 Millions, BG-Rs.32.000 Millions, TL-Rs.23.900 Millions). 3.Above said Charge is created in favour of Saptagiri Grameena Bank Vijayawada for Term Loan an amount of Rs.104.600 Millions
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Factory Land of Ac 20.77 cents in RS no.139/1, 139/2, 139/3, 139/4, 135/2 and 137/2 at Narasimharao Palem Village of Veerulapadu Mandal, Krishna District in the name of the company with Building thereon. Plant and Machinery, Equipment, fittings, stocks and spare parts held and are to be acquired by the company. Industrial Land of Ac 19.12 cents in RS no 118, 137/3, and 142/2 2 at Narasimharao Palem Village of Veerulapadu Mandal,Krishna District in the name of the company Industrial Land of Ac 6.90 cents in RS no 135/4, 5 and 6 at Narasimharao Palem Village of Veerulapadu Mandal, Krishna District in the name of the company.
Date of instrument modifying the charge	11.03.2010
Particulars of the present modification	Additional Loan facility sanctioned for an amount of Rs.35.200 Millions. Hence total facility Limit is increased from Rs.730.100 to 765.300 Millions. Additional facility is secured by way of Deposit of title deeds deposited by the Company, with Indian Bank (IB), Central Bank and Saptagiri Grameena Bank represented by Mr. A. B .K. Sastry, Chief Manager, IB, Mogalrajapuram Branch, Vijayawada, Lead Bank with intention to create security interest and or for the purpose of securing the repayment of credit facilities.

FIXED ASSETS:

• Freehold Land
• Buildings - Factory Buildings
• Plant and Machinery
• Electrical Equipment
• Computers
• Office Equipment
• Furniture and Fittings
• Vehicles

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 records 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.55.72
UK Pound	1	Rs.87.95
Euro	1	Rs.69.65

INFORMATION DETAILS

Report Prepared by :

NID

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--CREDIT LINES	1~10	4
--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		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.