MIRA INFORM REPORT

Report Date :

26.09.2012

IDENTIFICATION DETAILS

Name :	CHETAK LOGISTICS LIMITED
Registered Office :	Chetak House, Old Delhi Gurgaon Road, Kapashera, New Delhi-110037
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	22.03.2001
Com. Reg. No.:	55-110121
Capital Investment / Paid-up Capital :	Rs.13.725 millions
CIN No.: [Company Identification No.]	U60231DL2001PLC110121
TAN No.: [Tax Deduction & Collection Account No.]	DELC06168B/ DELC07128C
PAN No.: [Permanent Account No.]	AABCC8571C/ AABCC8571C
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Providing Transporters and Warehousing Services.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (49)

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

Maximum Credit Limit :	USD 728000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. It has achieved a better increase in its total income and profits during 2011. Trade relations are reported as decent. 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 :	Chetak House, Old Delhi Gurgaon Road, Kapashera, New Delhi-110037, India
Tel. No.:	91-11-46677777
Fax No.:	91-11-25064444
E-Mail :	accounts@chetakmail.com cs@chetakmail.com chetak@chetakmail.com
Website :	www.chetak.co.in

DIRECTORS

As on 28.09.2011

Name :

Mr. Rashi Rajendra Haritash

Designation :

Director

Address :

A1/102, Paschim Vihar, New Delhi-110063, India

Date of Birth/Age :

03.08.1984

Date of Appointment :

15.10.2010

DIN No.:

02701661

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	U60231DL2001PLC110121	CHETAK LOGISTICS LIMITED	Director	15/10/2010	01/08/2009	-	Active	NO

Name :

Mr. Daya Nandal

Designation :

Director

Address :

H NO. 171, Sector 14, Sonipat-131029, Haryana, India

Date of Birth/Age :

02.01.1966

Date of Appointment :

22.09.2010

DIN No.:

03040560

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	U60231DL2001PLC110121	CHETAK LOGISTICS LIMITED	Director	22/09/2010	01/04/2010	-	Active	NO

Name :

Mr. Krishna Nandal

Designation :

Director

Address :

H NO. 171, Sector 14, Sonipat-131029, Haryana, India

Date of Birth/Age :

14.10.1961

Date of Appointment :

22.09.2010

DIN No.:

03040587

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	U60231DL2001PLC110121	CHETAK LOGISTICS LIMITED	Director	22/09/2010	01/04/2010	-	Active	NO

Name :

Mr. Jai Karan Sharma

Designation :

Managing director

Address :

A-1/102, Paschim Vihar, New Delhi-110063, India

Date of Birth/Age :

01.11.1955

Date of Appointment :

22.03.2001

DIN No.:

00050430

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	U93000DL1996PLC080602	CHETAK INTERNATIONAL CARGO LIMITED	Director	24/07/1996	24/07/1996	-	Active	NO
2	U60231DL2001PLC110121	CHETAK LOGISTICS LIMITED	Managing director	22/03/2001	22/03/2001	-	Active	NO
3	U34102DL2007PTC160873	CHETAK MOTORS PRIVATE LIMITED	Director	23/03/2007	23/03/2007	-	Active	NO
4	U63090DL2007PTC164679	CHETAK SONS PRIVATE LIMITED	Director	13/06/2007	13/06/2007	-	Active	NO
5	U74999DL2007PTC166901	CHETAK GLOBAL WAREHOUSING PRIVATE LIMITED	Director	10/08/2007	10/08/2007	-	Active	NO
6	U27310DL2007PTC169571	CHETAK SUPPLY CHAIN PRIVATE LIMITED	Director	18/10/2007	18/10/2007	12/11/2010	Active	NO

Name :

Mr. Krishna Sharma

Designation :

Whole-time director

Address :

A-1/102, Paschim Vihar, New Delhi-110063, India

Date of Birth/Age :

25.02.1956

Date of Appointment :

22.03.2001

DIN No.:

00169297

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	U93000DL1996PLC080602	CHETAK INTERNATIONAL CARGO LIMITED	Director	24/07/1996	24/07/1996	-	Active	NO
2	U60231DL2001PLC110121	CHETAK LOGISTICS LIMITED	Whole-time director	22/03/2001	22/03/2001	-	Active	NO
3	U63090DL2007PTC164679	CHETAK SONS PRIVATE LIMITED	Director	13/06/2007	13/06/2007	-	Active	NO
4	U72900DL2010PTC198071	VERGE TECHNOLOGIES PRIVATE LIMITED	Director	16/01/2010	16/01/2010	-	Active	NO
5	U34102DL2007PTC160873	CHETAK MOTORS PRIVATE LIMITED	Director	01/11/2010	01/11/2010	-	Active	NO
6	U74999DL2007PTC166901	CHETAK GLOBAL WAREHOUSING PRIVATE LIMITED	Director	30/09/2011	01/11/2010	-	Active	NO
7	U63040DL2011PTC215577	CHETAK INTERNATIONAL PRIVATE LIMITED	Director	10/03/2011	10/03/2011	-	Active	NO

Name :

Mr. Mukesh Haritash

Designation :

Managing director

Address :

A-1/102, Paschim Vihar, New Delhi-110063, India

Date of Birth/Age :

29.11.1975

Date of Appointment :

22.03.2001

DIN No.:

00050683

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	U93000DL1996PLC080602	CHETAK INTERNATIONAL CARGO LIMITED	Director	01/04/2007	24/07/1996	-	Active	NO
2	U60231DL2001PLC110121	CHETAK LOGISTICS LIMITED	Managing director	01/04/2007	22/03/2001	-	Active	NO
3	U34102DL2007PTC160873	CHETAK MOTORS PRIVATE LIMITED	Director	23/03/2007	23/03/2007	01/11/2010	Active	NO
4	U63090DL2007PTC164679	CHETAK SONS PRIVATE LIMITED	Director	13/06/2007	13/06/2007	-	Active	NO
5	U74999DL2007PTC166901	CHETAK GLOBAL WAREHOUSING PRIVATE LIMITED	Director	10/08/2007	10/08/2007	01/11/2010	Active	NO
6	U27310DL2007PTC169571	CHETAK SUPPLY CHAIN PRIVATE LIMITED	Director	18/10/2007	18/10/2007	-	Active	NO
7	U72900DL2010PTC198071	VERGE TECHNOLOGIES PRIVATE LIMITED	Director	16/01/2010	16/01/2010	-	Active	NO
8	U63040DL2011PTC215577	CHETAK INTERNATIONAL PRIVATE LIMITED	Director	10/03/2011	10/03/2011	-	Active	NO

Name :

Mr. Sachin Haritash

Designation :

Whole-time director

Address :

A-1/102, Paschim Vihar, New Delhi-110063, India

Date of Birth/Age :

19.04.1982

Date of Appointment :

25.06.2003

DIN No.:

00050897

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	U93000DL1996PLC080602	CHETAK INTERNATIONAL CARGO LIMITED	Director	01/06/2000	01/06/2000	-	Active	NO
2	U60231DL2001PLC110121	CHETAK LOGISTICS LIMITED	Whole-time director	25/06/2003	25/06/2003	-	Active	NO
3	U34102DL2007PTC160873	CHETAK MOTORS PRIVATE LIMITED	Director	23/03/2007	23/03/2007	01/11/2010	Active	NO
4	U63090DL2007PTC164679	CHETAK SONS PRIVATE LIMITED	Director	13/06/2007	13/06/2007	-	Active	NO
5	U74999DL2007PTC166901	CHETAK GLOBAL WAREHOUSING PRIVATE LIMITED	Director	10/08/2007	10/08/2007	01/11/2010	Active	NO
6	U27310DL2007PTC169571	CHETAK SUPPLY CHAIN PRIVATE LIMITED	Director	18/10/2007	18/10/2007	-	Active	NO
7	U72900DL2010PTC198071	VERGE TECHNOLOGIES PRIVATE LIMITED	Director	16/01/2010	16/01/2010	-	Active	NO
8	U63040DL2011PTC215577	CHETAK INTERNATIONAL PRIVATE LIMITED	Director	10/03/2011	10/03/2011	-	Active	NO

Name :

Mr. Rajesh Haritash

Designation :

Whole-time director

Address :

A-1/102, Paschim Vihar, New Delhi-110063, India

Date of Birth/Age :

17.09.1979

Date of Appointment :

01.05.2003

DIN No.:

00050815

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	U93000DL1996PLC080602	CHETAK INTERNATIONAL CARGO LIMITED	Director	18/10/1997	18/10/1997	-	Active	NO
2	U60231DL2001PLC110121	CHETAK LOGISTICS LIMITED	Whole-time director	01/05/2003	01/05/2003	-	Active	NO
3	U34102DL2007PTC160873	CHETAK MOTORS PRIVATE LIMITED	Director	23/03/2007	23/03/2007	01/11/2010	Active	NO
4	U63090DL2007PTC164679	CHETAK SONS PRIVATE LIMITED	Director	13/06/2007	13/06/2007	-	Active	NO
5	U74999DL2007PTC166901	CHETAK GLOBAL WAREHOUSING PRIVATE LIMITED	Director	10/08/2007	10/08/2007	01/11/2010	Active	NO
6	U27310DL2007PTC169571	CHETAK SUPPLY CHAIN PRIVATE LIMITED	Director	18/10/2007	18/10/2007	-	Active	NO
7	U72900DL2010PTC198071	VERGE TECHNOLOGIES PRIVATE LIMITED	Director	16/01/2010	16/01/2010	-	Active	NO
8	U63040DL2011PTC215577	CHETAK INTERNATIONAL PRIVATE LIMITED	Director	10/03/2011	10/03/2011	-	Active	NO

Name :

Mr. Rashi Haritash

Designation :

Whole-time director

Address :

A-1/102, Paschim Vihar, New Delhi-110063, India

Date of Birth/Age :

05.12.1976

Date of Appointment :

25.06.2003

DIN No.:

00169388

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	U93000DL1996PLC080602	CHETAK INTERNATIONAL CARGO LIMITED	Director	01/04/2007	18/10/1997	-	Active	NO
2	U60231DL2001PLC110121	CHETAK LOGISTICS LIMITED	Whole-time director	01/04/2007	25/06/2003	-	Active	NO
3	U63090DL2007PTC164679	CHETAK SONS PRIVATE LIMITED	Director	13/06/2007	13/06/2007	-	Active	NO

Name :

Ms. Bhawna Haritash

Designation :

Whole-time director

Address :

A-1/102, Paschim Vihar, New Delhi-110063, India

Date of Birth/Age :

19.09.1987

Date of Appointment :

01.08.2006

DIN No.:

00482320

Name :

Mr. Sitender kumar nandal

Designation :

Director

Address :

H.No-283, Village Udeshipur, Tehsil Ganaur, , Sonepat-131029, Haryana, India

Date of Birth/Age :

14.06.1961

Date of Appointment :

30.06.2006

DIN No.:

00306664

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	U93000DL1996PLC080602	CHETAK INTERNATIONAL CARGO LIMITED	Director	29/09/2006	30/06/2006	-	Active	NO
2	U60231DL2001PLC110121	CHETAK LOGISTICS LIMITED	Director	29/09/2006	30/06/2006	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 28.09.2011

Names of Shareholders	No. of Shares
Jai Karan Sharma	1145000
Krishna Sharma	21000
Mukesh Haritash	50000
Rashi Haritash	8500
Rajesh Haritash	71000
Sachin Haritash	76000
Bhawna Haritash	1000
Total	1372500

Equity Share Break up (Percentage of Total Equity)

As on 28.09.2011

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Providing Transporters and Warehousing Services.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India

• Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227, D, Nariman Point, Mumbai-400021, Maharashtra, India

Facilities :

Secured Loan	31.03.2011 (Rs. in Millions)	31.03.2010 (Rs. in Millions)
Rupee term loans banks secured	436.038	540.729
Total	436.038	540.729

Banking Relations :	--
Auditors :
Name :	M. Goyal and Associates Chartered Accountants
Address :	111, Vardhman City-2, 8-9, Asaf Ali Road, New Delhi-110002, India
Tel. No.:	91-11-24561276
Mobile No.:	91- 9811773535
Fax No.:	91-11-23233548
E-Mail :	mlgoyal2002@gmail.com
PAN No.:	AAEPG6550F

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
2000000	Equity Shares	Rs.10/- each	Rs.20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1372500	Equity Shares	Rs.10/- each	Rs.13.725 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		13.725	13.725	13.725
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		168.307	175.221	183.633
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		182.032	188.946	197.358
LOAN FUNDS
1] Secured Loans		436.038	540.729	224.810
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		436.038	540.729	224.810
DEFERRED TAX LIABILITIES		0.000	10.030	0.000
TOTAL		618.070	739.705	422.168
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		735.748	773.870	404.670
Capital work-in-progress		10.100	0.000	0.000
INVESTMENT		71.817	73.900	0.000
DEFERRED TAX ASSETS		18.372	0.000	17.219
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	8.910
	Sundry Debtors	690.454	580.468	453.237
	Cash & Bank Balances	70.565	57.430	56.987
	Other Current Assets	0.000	0.000	27.603
	Loans & Advances	140.539	62.260	105.007
Total Current Assets		901.558	700.158	651.744
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	37.033	46.727	32.247
	Other Current Liabilities	1053.714	743.337	597.890
	Provisions	28.778	18.182	21.374
Total Current Liabilities		1119.525	808.246	651.511
Net Current Assets		(217.967)	(108.088)	0.233
MISCELLANEOUS EXPENSES		0.000	0.023	0.046
TOTAL		618.070	739.705	422.168

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	5994.895	5032.463	3034.697
		Other Income	171.987	84.720	25.639
		TOTAL (A)	6166.882	5117.183	3060.336
Less	EXPENSES
		Manufacturing service costs	5478.864	4553.452	2780.593
		Employee related expenses	73.745	52.886
		Administrative selling other expenses	123.187	116.117
		TOTAL (B)	5675.796	4722.455	2780.593
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		491.086	394.728	279.743
Less	FINANCIAL EXPENSES (D)		44.439	43.103	38.330
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		446.647	351.625	241.413
Less/ Add	DEPRECIATION/ AMORTISATION (F)		302.503	242.346	133.040
	PROFIT BEFORE TAX (E-F) (G)		144.144	109.279	108.373
Less	TAX (I)		0.376	45.432	21.374
	PROFIT AFTER TAX (G-I) (J)		143.768	63.847	86.999
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		175.221	183.633	95.511
Add	DEFERRED TAX (ASSETS)		-	-	1.123
Less	APPROPRIATIONS		150.682	72.259	0.000
	BALANCE CARRIED TO THE B/S		168.307	175.221	183.633
	Earnings Per Share (Rs.)		84.05	46.51	63.39

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	2.33	1.25	2.84
Net Profit Margin (PBT/Sales)	(%)	2.40	2.17	3.57
Return on Total Assets (PBT/Total Assets}	(%)	8.80	7.41	10.26
Return on Investment (ROI) (PBT/Networth)		0.79	0.58	0.55
Debt Equity Ratio (Total Liability/Networth)		8.55	7.14	4.44
Current Ratio (Current Asset/Current Liability)		0.81	0.87	1.00

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	No

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U60231DL2001PLC110121
Name of the company	CHETAK LOGISTICS LIMITED
Address of the registered office or of the principal place of business in India of the company	Chetak House Old Delhi Gurgaonroad Kapashera, New Delhi-110037, India Email: cs@chetakmail.com
Charge identification (ID) number of the charge to be modified	10265550
This form is for	Modification of charge
Type of charge	· Book debts · Movable property (not being pledge) Floating charge
Particular of charge holder	HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India Email: RBBform8@hdfcbank.com
Nature of instrument creating charge	Supplementary Letter of Hypothecation of Stocks and Book Debts
Date of instrument Creating the charge	25.01.2012
Amount secured by the charge	Rs.305.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest Interest at the rate as may be communicated by the Bank from time to time. Terms of Repayment On Demand Margin As may be stipulated by the Bank from time to time. Extent and Operation of the charge Hypothecation by way of First Charge on Company's Stocks and Book Debts etc, as a continuing security as mentioned in Column No.15 to secure below for the repayment of Rs. 305.000 Millions together with interest, costs, charges, expenses and other moneys due and payable by the Company to the Bank.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	All the Stock in Trade both present and future consisting of raw materials, finished goods, goods in process of manufacturing and other merchandise All the book-debts, outstandings monies receivables, claims and bills which are now due and owing or which may at any
Particulars of the present modification	The Charge shall now stand increased from Rs. 205.000 Millions to Rs. 305.000 Millions against the security of Stocks and Book Debts of the Company.

FIXED ASSETS:

• Truck and Trailors
• Cars
• Plant and Machinery
• Building
• Furniture and Fixture
• Computer
• Computer Software
• Air condition
• Scooter
• Photocopy Machine
• Fan
• Cooler
• Weight Machine
• Water Motor
• Office Equipment
• Generator
• Cellular
• Fax Machine
• Loading Machine
• Cycle

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

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.53.53
UK Pound	1	Rs.86.82
Euro	1	Rs.69.03

INFORMATION DETAILS

Report Prepared by :

MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--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		49

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.