MIRA INFORM REPORT

Report Date :

29.04.2013

IDENTIFICATION DETAILS

Name :	LEE PHARMA LIMITED (w.e.f. 06.10.1997)
Formerly Known As :	LEE PHARMA PRIVATE LIMITED
Registered Office :	Survey No. 257 and 258/1, Door No. 11-6/56, C Block, Opposite IDPL Factory, Moosapet (Village), Balanagar (Post), Hyderabad 500037, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	06.10.1997
Com. Reg. No.:	01-028095
Capital Investment / Paid-up Capital :	Rs. 14.509 Millions
CIN No.: [Company Identification No.]	U24230AP1997PLC028095
PAN No.: [Permanent Account No.]	AAACL3435F
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Active Pharmaceutical Ingredients (APIs) and Bulk Drugs.
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 1500000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. 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

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long Term Rating = BBB
Rating Explanation	Moderate degree of safety it carry moderate credit risk
Date	09.11.2012

Rating Agency Name	CRISIL
Rating	Short Term Rating = A3+
Rating Explanation	Moderate degree of safety it carry higher credit risk
Date	09.11.2012

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

LOCATIONS

Registered Office :	Survey No. 257 and 258/1, Door No. 11-6/56, C Block, Opposite IDPL Factory, Moosapet (Village), Balanagar (Post), Hyderabad 500037, Andhra Pradesh, India
Tel. No.:	91-40-66170334 / 66170336
Fax No.:	91-40-66170330
E-Mail :	accounts@leepharma.com info@leepharma.com sales@leepharma.com purchase@leepharma.com
Website :	http://leepharma.com
Factory :	Located At Hyderabad Visakhapatnam
Research Centre :	Located At Medak, Andhra Pradesh, India

DIRECTORS

As on 29.09.2012

Name :

Mr. Alla Venkata Reddy

Designation :

Managing Director

Address :

Plot No. 157, Vivekanandnagar Colony, Kukatpally, Hyderabad - 500072, Andhra Pradesh, India

Date of Birth/Age :

15.02.1955

Qualification :

Post Graduate

PAN No.:

ABLPA4127G

Date of Appointment :

27.08.2012

DIN No.:

00018534

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	U65993AP1995PTC019971	LEE HEALTH DOMAIN INDIA PRIVATE LIMITED	Director	07-04-95	07-04-95	-	Active	NO
2	U24230AP1997PLC028095	LEE PHARMA LIMITED	Managing director	27-08-12	06-10-97	-	Active	NO
3	U24239AP1998PTC030275	LEE POWER AND FUEL PRIVATE LIMITED	Director	30-09-98	30-09-98	-	Active	NO
4	U01110AP2001PTC036979	GENOVA BIOTECHNIQUES PRIVATE LIMITED	Director	18-08-06	18-08-06	17-07-07	Active	NO
5	U45201AP2007PTC056353	INDKEY INFRA PROJECTS PRIVATE LIMITED	Director	19-11-07	19-11-07	-	Active	NO

Name :

Mrs. Alla Ratna Kumari

Designation :

Whole Time Director

Address :

Plot No. 157, Vivekanandnagar Colony, Kukatpally, Hyderabad – 500072, Andhra Pradesh, India

Date of Birth/Age :

22.11.1960

Qualification :

Graduate

PAN No.:

AAMPA7034L

Date of Appointment :

27.08.2012

DIN No.:

00022478

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	U65993AP1995PTC019971	LEE HEALTH DOMAIN INDIA PRIVATE LIMITED	Director	07-04-95	07-04-95	-	Active	NO
2	U24230AP1997PLC028095	LEE PHARMA LIMITED	Whole-time director	27-08-12	06-10-97	-	Active	NO
3	U24239AP1998PTC030275	LEE POWER AND FUEL PRIVATE LIMITED	Director	23-03-99	23-03-99	-	Active	NO

Name :

Dr. Tatineni Gopala Rao

Designation :

Director

Address :

203, Siri Residency, Thakur Mansion Lane, Somajiguda, Hyderabad – 500082, Andhra Pradesh, India

Date of Birth/Age :

15.07.1944

Date of Appointment :

22.04.1999

DIN No.:

00043939

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	U70102AP1997PTC027377	SAROVAR ESTATES PRIVATE LIMITED	Director	19-06-97	19-06-97	-	Active	NO
2	U33112AP1997PTC028505	JUBILEE HOSPITALS PRIVATE LIMITED	Director	09-12-97	09-12-97	-	Strike off	NO
3	U24230AP1997PLC028095	LEE PHARMA LIMITED	Director	22-04-99	22-04-99	-	Active	NO
4	U70102AP2002PTC038338	VANASTALI HILLS REAL ESTATES PRIVATE LIMITED	Director	09-01-02	09-01-02	-	Active	NO
5	U45200AP2004PTC044300	WESTSIDE ESTATES PRIVATE LIMITED	Director	30-09-04	30-09-04	-	Active	NO
6	U45400AP2007PTC053739	GVS INFRASTRUCTURE PRIVATE LIMITED	Director	24-04-07	24-04-07	-	Active	NO

Name :

Mr. Alla Raghu Mitra

Designation :

Whole Time Director

Address :

Plot No.157, Vivekanand Nagar Colony, Kukatpally, Hyderabad – 500072, Andhra Pradesh, India

Date of Birth/Age :

10.10.1980

PAN No.:

AIAPA2755N

Date of Appointment :

27.08.2007

DIN No.:

00080789

Name :

Mr. Vijay Kumar Agarwal

Designation :

Director

Address :

23, Ahoora Mahal, 6th Floor, 93 Marina Drive, G Road, Mumbai – 400002, Maharashtra, India

Date of Birth/Age :

13.03.1952

Date of Appointment :

27.09.2007

DIN No.:

01710632

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	L24110MH1992PLC065942	EMMESSAR BIOTECH AND NUTRITION LIMITED	Director	17-03-92	17-03-92	-	Active	NO
2	U51496MH2002PTC137268	AGARWAL CHEMICAL AGENCIES PRIVATE LIMITED	Director	18-09-02	18-09-02	-	Active	NO
3	U74999MH2005PTC154265	SURVIVAL TECHNOLOGIES PRIVATE LIMITED	Director	27-06-05	27-06-05	-	Active	NO
4	U24230AP1997PLC028095	LEE PHARMA LIMITED	Director	27-09-07	27-09-07	-	Active	NO
5	U24100MH2013PTC240542	RUDRA SPECIALITY CHEM PRIVATE LIMITED	Director	16-02-13	16-02-13	-	Active	NO

Name :

Mr. Gary Ethan Kamins

Designation :

Director

Address :

Pac Palisades ca 90272, California - 90272, USA

Date of Birth/Age :

06.06.1962

Date of Appointment :

27.09.2007

DIN No.:

01832818

Name :

Mr. Fransisco Javier Castellsague Casals

Designation :

Director

Address :

GRVE CARI.OS III 6131, Barcelona - 08028, Spain

Date of Birth/Age :

09.06.1941

Date of Appointment :

27.09.2007

DIN No.:

01869905

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2012

Names of Shareholders	No. of Shares
Alla Venkata Reddy	249000
Alla Ratna Kumari	161700
Alla Raghumitra	102300
Alla Leela Rani	62100
P. V. Subba Reddy	16200
P. Jagadeeshwara Reddy	4050
P. Padmalatha Reddy	5400
P. Anjusha Reddy	1350
P. Venkata Reddy	6750
P. Varalakshmi	1350
P. Venkata Reddy	2700
K. Lahiri	100
K. Swapna Lahiri	100
M. Lakshmi Prasanna	100
P. Madhusudhan Reddy	5400
P. Bhuvana Reddy	5400
A. Nagi Reddy	42700
A. Anjamma Reddy	40800
K. Tarun Reddy	10000
K. Bhargav Reddy	10000
B. Pitchi Reddy	20000
B. Dhanalakshmi Reddy	15000
B. Anasurya Reddy	15000
S. Madhusudhan Reddy	20000
M. Mallikarjun Rao	100
A. Vijaya Kumari	100
B. Rama Subba Reddy	100
K. Mallikarhun Reddy	100
T. Gopal Rao	100
Moehs Iberica S L	616636
Vijay Kumar Raghunandan Prasad Agarwal	36273
Total	1450909

As on 29.09.2012

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	42.50
Directors or relatives of Directors	57.50
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing and marketing of Active Pharmaceutical Ingredients (APIs) and Intermediate Chemicals.

Products :

Description of product or service category	ITC Code No.
Omeprazolepowder	2942
Maltal	2932
Methelene Chloride	2903
HPMCP HP-55	3912
Iso Propyl Alcohol	2905
2,3 lutidine	2933
Cis Bromo benzoate	2942
Omeprazole Sulphide	2942
Acetone	2914
Domperidone	2922

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

State Bank of India, Industrial Finance Branch, Raj Bhavan Road, Somajiguda, Hyderabad - 500082, Andhra Pradesh, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
Long-term borrowings
Term loans from banks (Security Details: The Term Loans are secured by a Pari-passu first charge on all fixed assets of the company both present and future and second charge on current assets of the company in favour of State Bank of India. The Term Loans are further secured by personal asset and guarantee of directors in their personal capacity.)	24.000	39.592
Term loans from others (Authority Security Sum Assured Rate of Interest Repayment LIC Keymen Insurance Policies 20.000 Millions 9.00% On Maturity of the Policy)	3.434	3.434
Deferred payment liabilities ("Security Details: Secured by movable and immovable properties of the company and personal guarantee of the director." Terms of Repayment Financial Year Amount 2013 - 14 Rs.1.298 Millions 2014 - 15 Rs.1.105 Millions 2015 - 16 Rs.0.563 Millions 2016 - 17 Rs.0.920 Million 2017 - 18 Rs.1.196 Millions Total Rs.5.082 Millions	5.082	5.082
Loans and advances from related parties	6.756	5.422
Loans taken for fixed assets (Authority Security Sum Assured Rate of Interest Repayment LIC Keymen Insurance Policies 20.000 Millions 9.00% On Maturity of the Policy)	0.973	0.000
Short-term borrowings
Loans repayable on demand from (The Working Capital Loans from State Bank of India are secured against hypothecation of Finished Stocks, Raw Materials, Stores and Spares and book debts and second charge on fixed assets and also guaranteed by two directors in their personal capacity.)	297.289	221.690
Loans repayable on demand from others	4.378	2.680
Total	341.912	277.900

Banking Relations :	--
Financial Institutions :	Reliance Capital Limited, "H" Block 1st Floor, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai - 400710, Maharashtra, India
Auditors :
Name :	M. V. Narayana Reddy and Company Chartered Accountants
Address :	Flat No. 504, Vijayasree Apartments, Behind Chermas, Ameerpet, Hyderabad - 500073, Andhra Pradesh, India
Tel. No.:	91-40-23744448 / 23743975
PAN No.:	AADFM4830F
Associates :	Moehs Iberical S.A Indkey Infra Projects Private Limited

CAPITAL STRUCTURE

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
7650000	Equity Shares	Rs. 10/- each	Rs. 76.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1450909	Equity Shares	Rs. 10/- each	Rs.14.509 Millions

Disclosure of shareholding more than five per cent in company

Name of shareholder	Number of shares held in company	Percentage of shareholding in company
A Venkatareddy	249000	17.00%
A Ratnakumari	161700	11.00%
A Raghumitra	102300	71.00%
Moehs Iberica SL	616636	43.00%

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012	31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		14.509	14.509	14.509
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		385.440	366.669	353.604
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		399.949	381.178	368.113
LOAN FUNDS
1] Secured Loans		341.912	277.900	198.946
2] Unsecured Loans		0.000	0.000	17.004
TOTAL BORROWING		341.912	277.900	215.950
DEFERRED TAX LIABILITIES		37.412	33.137	28.990
TOTAL		779.273	692.215	613.053
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		486.264	464.124	441.317
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	10.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	282.117	241.542	217.001
	Sundry Debtors	352.475	216.949	183.961
	Cash & Bank Balances	12.531	11.118	8.212
	Other Current Assets	0.104	0.817	0.000
	Loans & Advances	76.484	39.135	36.762
Total Current Assets		723.711	509.561	445.936
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	335.636	207.981	247.041
	Other Current Liabilities	81.899	71.714	23.893
	Provisions	13.167	11.775	3.266
Total Current Liabilities		430.702	291.470	274.200
Net Current Assets		293.009	218.091	171.736
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		779.273	692.215	613.053

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	1183.568	847.250	728.786
		Other Income	23.623	5.443	3.014
		TOTAL (A)	1207.191	852.693	731.800
Less	EXPENSES
		Cost of materials consumed	813.569	546.936
		Purchases of stock-in-trade	3.056	2.810
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	(4.029)	(19.889)	673.616
		Employee benefit expense	64.454	54.505
		Other expenses	231.789	195.036
		TOTAL (B)	1108.839	779.398	673.616
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		98.352	73.295	58.184
Less	FINANCIAL EXPENSES (D)		40.226	26.211	16.361
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		58.126	47.084	41.823
Less/ Add	DEPRECIATION/ AMORTISATION (F)		28.686	24.740	18.755
	PROFIT BEFORE TAX (E-F) (G)		29.440	22.344	23.068
Less	TAX (H)		10.669	9.279	10.837
	PROFIT AFTER TAX (G-H) (I)		18.771	13.065	12.231
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		43.687	40.622	38.391
Less	APPROPRIATIONS
		Transfer to General Reserve	10.000	10.000	10.000
	BALANCE CARRIED TO THE B/S		52.458	43.687	40.622
	EARNINGS IN FOREIGN CURRENCY
		Earnings on FOB Basis	596.911	435.179	391.598
	TOTAL EARNINGS		596.911	435.179	391.598
	IMPORTS
		Raw Materials	157.569	140.877	151.727
		Capital Goods	7.015	1.811	7.696
	TOTAL IMPORTS		164.584	142.688	159.423
	Earnings Per Share (Rs.)		12.94	9.00	NA

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	1.55	1.53	1.67
Net Profit Margin (PBT/Sales)	(%)	2.49	2.64	3.16
Return on Total Assets (PBT/Total Assets}	(%)	2.43	2.29	5.17
Return on Investment (ROI) (PBT/Networth)		0.07	0.06	0.06
Debt Equity Ratio (Total Debt /Networth)		0.85	0.73	0.59
Current Ratio (Current Asset/Current Liability)		1.68	1.75	1.63

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

Note:

The registered office of the company has been shifted from Flat No: 401, A - Block, Saidatta Apartments, Srinivasa Nagar Colony (East), Ameerpet, Hyderabad – 500038, Andhra Pradesh, India to present address w.e.f. 09.05.2007

REVIEW OF THE BUSINESS OPERATIONS

During the year, the Company has clocked a Total Income of Rs.1207.191 Millions as against Rs.852.693 Millions in the preceding financial year registering a growth of 41.57 % in the current year sales. The company has earned a net profit of Rs.18.771 Millions (previous year Rs.13.065 Millions) after providing for taxes of Rs.10.669 Millions (previous year Rs.9.279 Millions).

In this year, the company was able to leverage its position in the domestic segment. Subject is the prime supplier to many of the big pharma companies like Sun Pharma, Abott Health Care, Micro Labs and Mankind.

In spite of the vulnerable economic situation across the globe, Subject was able to maintain the exports to various countries across the globe. Lee has also made its presence in Pakistan through one of the antibiotic drug Moxifloxacin.

Subject has faced various customer audits and completed successfully. The main achievement was the successful completion of Danish Medicines Agency Audit at Pellets facility at Vizag and API facility at Kazipally.

They will make every effort and do not leave any stone unturned to stand up and be counted as one of the pharma giants of the country.

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U24230AP1997PLC028095
Name of the company	LEE PHARMA LIMITED
Address of the registered office or of the principal place of business in India of the company	Survey No. 257 and 258/1, Door No. 11-6/56, C Block, Opposite IDPL Factory, Moosapet (Village), Balanagar (Post), Hyderabad 500037, Andhra Pradesh, India accounts@leepharma.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	90124067
Type of charge	Immovable property Book debts Movable property (not being pledge) Others
Particular of charge holder	State Bank of India, Industrial Finance Branch, Raj Bhavan Road, Somajiguda, Hyderabad - 500082, Andhra Pradesh, India venkata.giri@sbi.co.in
Nature of instrument creating charge	1) Supplemental Agreement of Hypothecation of Goods and assets for Increase In The Overall Limit 2) Supplemental Agreement of Loan For Increase In The Overall Limit 3) Letter Regarding The Grant of Individual Limits Within The Overall Limit. 4) Supplemental Deed of Guarantee For Increase In Overall Limit. 5) Memorandum of Deposit For Creation of Further Charge For Over All Limit Where The Initial Charge Is Created By Way of Mortgageby Deposit of Title Deeds.
Date of instrument Creating the charge	24.12.2012
Amount secured by the charge	Rs.578.100 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest As Per Agreement Terms of Repayment As Per Agreement Margin Cash Credit: Raw Material Domestic : 25% Imported : 25% SIP : 25% FG : 25% Receivables : 40% (Cover Period) : 90 Days LC(Domestic) : 15% LC (Foreign) : 10% BG : 12% Term Loan III 34.05% Extent and Operation of the charge Primary Security: Hypothecation of all chargeable current assets of the Company. Collateral Security: (i) Extension of Charge on fixed assets of the Company. (ii) Extension of EM on three storeyed house at Plot No.157, Sy No. 122/A, Vivekananda Nagar Colony, Kukatpally, Hyderabad Belonging to Mr. A. Venkata Reddy and Mrs. A. Ratna Kumari. Guarantee: Personal Guarantee of the Promoter directors as under 1. Mr. A. Venkata Reddy, 2. Mrs. A. Ratna Kumari. Others Limits Enhanced To Rs. 578.100 Millions
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Primary Security: WC: Hypothecation of all chargeable current assets of the Company. Term Loans:Extension of Charge(Including Equitable Mortgage on Company's land and building) on fixed assets (present and future) of the Company. Collateral Security: WC: Extension of Charge on fixed assets of the company (Including extension of Equitable Mortgage on factory's land and building) Term Loans: Second charge on all chargeable current assets. WC and Term Loans: Extension of EM on three storied house admeasuring 325sq.yds with built-up area 4221 sft ., At Plot No. 157, Sy No.-122/A, Vekananda Nagar Colony, Kukatpally, Hyderabad Guarantee: Personal Guarantee of the Promoter directors as under 1. Mr. A. Venkata Reddy, 2. Mrs. A. Ratna Kumari.
Date of instrument modifying the charge	23.06.2012
Particulars of the present modification	Limits Enhanced To Rs. 578.100 Millions

Fixed Assets

• Land Factory Buildings
• Plant and machinery
• Electrical Works
• Office equipments
• Lab Equipments
• Furniture and Fixtures
• Computers
• Vehicles
• Capital Work in Progress
• R and D Equipment

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.29
UK Pound	1	Rs.83.88
Euro	1	Rs.70.68

INFORMATION DETAILS

Report Prepared by :

NTH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--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	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
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.