MIRA INFORM REPORT

Report Date :

02.01.2013

IDENTIFICATION DETAILS

Name :	ORACLE GRANITO LIMITED
Registered Office :	206, Dev Arc, 2^nd Floor, Near Fun Republic, Opposite Big Bazar, S.G. Road, Ahmedabad – 380015, Gujarat
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	04.08.2003
Com. Reg. No.:	04-042718
Capital Investment / Paid-up Capital :	Rs. 68.259 millions
CIN No.: [Company Identification No.]	U14102GJ2003PLC042718
PAN No.: [Permanent Account No.]	AAACO6238P
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Vitrified Tiles.
No. of Employees :	410 (Approximately) ( In Office – 40, In Factory – 310, In Branch – 50 )

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 1630000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is a well established and reputed company having satisfactory track record. Trade relations are fair. Business is active. Payments are reported to be regular 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

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	BBB (Long term bank facilities)
Rating Explanation	Moderate degree of safety. It carry moderate credit risk.
Date	26.03.2011

Rating Agency Name	CARE
Rating	A3 (Short term bank facilities)
Rating Explanation	Moderate degree of safety. It carry higher credit risk.
Date	26.03.2011

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.

INFORMATION PARTED BY

Name :	Mr. Jayantibhai Patel
Designation :	Director
Contact No.:	91-2772-239831
Date :	22.12.2012

LOCATIONS

Registered Office :	206, Dev Arc, 2^nd Floor, Near Fun Republic, Opposite Big Bazar, S.G. Road, Ahmedabad – 380015, Gujarat, India
Tel. No.:	91-2772-239831/239833
Mob. No.:	91-9825801396 (Mr. Pragnesh Patel)
Fax No.:	91-2772-239832
E-Mail :	jayanti@maruito.co.in oraclegranito@hotmail.com sales@oraclemarbito.com info@oraclemarbito.com marbito_branch@hotmail.com
Website :	www.oraclegranito.com
Area :	1000 sq ft
Location :	Rented
Corporate Office :	Malbito Display Studio, G-10, Mourya Arcade, Science City Road, Opposite Sola Police Chowky, Ahmedabad, Gujarat, India
Area :	1000 sq ft
Location :	Rented
Head Office/ Factory :	Block No. 286, Gadhoda Village, Sabar Dairy- Talod Road, Dist : Sabarkantha, Himatnagar - 383 001, Gujarat, India
Tel. No.:	91-2772-239831/239833/239834/239835
Fax No.:	91-2772-239832
E-Mail :	sales@oraclemarbito.com info@oraclemarbito.com
Area :	8 lac sq ft
Location :	Owned

DIRECTORS

As on 30.09.2011

Name :

Mr. Harshadkumar Dhirubhai Patel

Designation :

Chairman cum Managing Director

Address :

Umiya Parivar Soc., Mahavirnagar, Himatnagar – 383 001, Gujarat, India

Date of Birth/Age :

15.07.1969

Qualification :

BSC (Chemistri)

Date of Appointment :

01.11.2009

PAN No.:

ABNPP7682B

DIN No. :

00160593

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	U14102GJ2003PLC042718	ORACLE GRANITO LIMITED	Managing director	01/11/2009	01/09/2003	-	Active	NO
2	U74999DL1990NPL038848	INDIAN COUNCIL OF CERAMIC TILES AND SANITARYWARE	Director	12/07/2004	12/07/2004	25/06/2007	Active	NO

Name :

Mr. Ashwinkumar Maganbhai Patel

Designation :

Managing Director

Address :

At-Pruthvipura, Post-Ankola, Ta – Idar, District – Sabarkantha, Pruthvipura – 383 430, Gujarat, India

Date of Birth/Age :

21.02.1972

Qualification :

B.E. (Electronics)

Date of Appointment :

01.11.2009

PAN No.:

AFTPP5511M

DIN No. :

00160536

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	U24110GJ1987PTC009685	AJITA SIL-CHEM PRIVATE LIMITED	Director	14/08/2002	14/08/2002	11/04/2009	Active	NO
2	U14102GJ2003PLC042718	ORACLE GRANITO LIMITED	Managing director	01/11/2009	01/09/2003	-	Active	NO

Name :

Mr. Manilal Punjabhai Patel

Designation :

Whole Time Director

Address :

2/ B, Gayatri Park Society, Mahavirnagar, Himatnagar – 383 001, Gujarat, India

Date of Birth/Age :

01.06.1962

Qualification :

B.Com

Date of Appointment :

01.11.2009

PAN No.:

AKEPP5748E

DIN No. :

00161050

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	U14102GJ2003PLC042718	ORACLE GRANITO LIMITED	Whole-time director	01/11/2009	04/08/2003	-	Active	NO

Name :

Mr. Pragnesh Sankarbhai Patel

Designation :

Whole Time Director

Address :

Umiya Parivar Soc., Mahavirnagar, Himatnagar – 383 001, Gujarat, India

Date of Birth/Age :

31.08.1981

Qualification :

BBA

Date of Appointment :

01.11.2009

PAN No.:

AHKPP4200E

DIN No. :

00160631

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	U14102GJ2003PLC042718	ORACLE GRANITO LIMITED	Whole-time director	01/11/2009	04/08/2003	-	Active	NO

Name :

Mr. Devchandbhai Mulabhai Patel

Designation :

Whole Time Director

Address :

At-Narsinhpura, Post-Kukadiya, Ta-Idar, District – Sabarkantha, Narsinhpura – 383 410, Gujarat, India

Date of Birth/Age :

01.06.1953

Qualification :

B.Com

Date of Appointment :

01.05.2011

PAN No.:

AJWPP4879R

DIN No. :

00160573

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	U17110GJ1992PLC017462	ROBINSON EXIM AND FINANCE LIMITED	Director	02/09/2003	02/09/2003	-	Active	NO
2	U14102GJ2003PLC042718	ORACLE GRANITO LIMITED	Whole-time director	01/05/2011	29/08/2004	-	Active	NO

Name :

Mr. Vinodkumar Maganlal Patel

Designation :

Director

Address :

At-Pruthivipura, Post-Ankola, Ta – Idar, District – Sabarkantha, Pruthivipura – 383 410, Gujarat, India

Date of Birth/Age :

23.10.1967

Qualification :

B.Com

Date of Appointment :

01.04.2006

PAN No.:

AJCPP4421B

DIN No. :

00161154

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	U24110GJ1987PTC009685	AJITA SIL-CHEM PRIVATE LIMITED	Director	14/08/2002	14/08/2002	05/03/2009	Active	NO
2	U14102GJ2003PLC042718	ORACLE GRANITO LIMITED	Director	01/04/2006	01/04/2006	-	Active	NO
3	U74999DL1990NPL038848	INDIAN COUNCIL OF CERAMIC TILES AND SANITARYWARE	Director	25/06/2007	25/06/2007	-	Active	NO
4	U26914GJ2007PLC052480	CENGRES TILES LIMITED	Director	28/12/2007	28/12/2007	02/04/2009	Active	NO

Name :

Mr. Manoj Dhirubhai Patel

Designation :

Director

Address :

C/o Vijay Ceramic, Near College, N.H. No.8, Motipura, Himatnagar – 383 001, Gujarat, India

Date of Birth/Age :

18.05.1974

Qualification :

B.Com

Date of Appointment :

01.04.2006

PAN No.:

ABNPP7673C

DIN No. :

00160486

Name :

Mr. Jayantibhai Valjibhai Patel

Designation :

Director

Address :

Ganesh Ceramics, College Road, Motipura, Himatnagar – 383 001, Gujarat, India

Date of Birth/Age :

01.06.1964

Qualification :

B.Com

Date of Appointment :

01.04.2006

PAN No.:

ABEPP8719N

DIN No. :

00160309

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	U17110GJ1992PLC017462	ROBINSON EXIM AND FINANCE LIMITED	Director	02/09/2003	02/09/2003	-	Active	NO
2	U14102GJ2003PLC042718	ORACLE GRANITO LIMITED	Director	01/04/2006	01/04/2006	-	Active	NO

Name :

Mr. Prakashkumar Amichandbhai Patel

Designation :

Additional Director

Address :

At Ankala, Ta – Idar, District – Sabarkantha, Himatnagar – 383 430, Gujarat, India

Date of Birth/Age :

01.06.1967

Qualification :

B.Com

Date of Appointment :

01.03.2008

PAN No.:

AFIPP8569C

DIN No. :

01859224

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	U26933GJ2002PTC041265	ACCENT CERAMICS PRIVATE LIMITED	Director	31/10/2007	31/10/2007	-	Active	NO
2	U14102GJ2003PLC042718	ORACLE GRANITO LIMITED	Additional director	01/03/2008	01/03/2008	-	Active	NO
3	U45201GJ2008PTC055386	ARMANIA REALTY PRIVATE LIMITED	Additional director	13/11/2009	13/11/2009	-	Active	NO
4	U45202GJ2008PTC054179	SILVERSTONE REALTY PRIVATE LIMITED	Additional director	01/06/2011	01/06/2011	-	Active	NO
5	U55101GJ1994PTC021680	MARVELOUS HOTELS PRIVATE LIMITED	Additional director	01/06/2011	01/06/2011	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2011

Names of Shareholders	No. of Shares
1. Pali Ben Dhirubhai Patel	90000
2. Vitthalbhai Kalabhai Patel	38500
3. Nareshbhai Babubhai Patel	46000
4. Robinsons Exim and Finance Limited	2730000
5. Lilaben Vasantbhai Patel	34495
6. Chhayaben Prakashbhai Patel	39995
7. Vasantbhai Amichandbhai Patel	55599
8. Dhuliben Shankarbhai Patel	52400
9. Khemabhai Punjabhai Patel	27000
10. Pradip Kumar Dahyabhai Patel	43025
11. Divyeshkumar Navinchandra Patel	45000
12. Shankarbhai Kalidasbhai Patel	56790
13. Gitaben Vinodbhai Patel	38200
14. Vipulbhai Amthabhai Patel	38570
15. Kamleshbhai Becharbhai Patel	35100
16. Gitaben Girishbhai Patel	22500
17. Naimeshkumar Vasantbhai Patel	12500
18. Jaiminkumar Khemabhai Patel	28000
19. Gitaben Ashvinbhai Patel	32300
20. Punjabhai Amichandbhai Patel	35000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2011

Category	Percentage
Bodies corporate	39.99
Directors or relatives of Directors	44.85
Other top fifty shareholders	15.16
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Vitrified Tiles.

Products :

Item Code No.	Product Description
69079010	Vitrified Ceramic Tiles

Imports :

Products :

Raw Material

Countries :

China

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

PRODUCTION STATUS AS ON 31.03.2011

Particulars	Units	Licensed Capacity	Installed Capacity	Actual Production
Vitrified Ceramic Tiles	Sq. Meters	--	5.000 Millions	4638370.22

GENERAL INFORMATION

Suppliers :

· Sabarmati Gas Limited

· Bharani Chemicals

Customers :

End Users

No. of Employees :

410 (Approximately) ( In Office – 40, In Factory – 310, In Branch – 50 )

Bankers :

· Bank of Baroda, Corporate Financial Services Branch, 1st/2nd Floor, Bank of Baroda Towers, Near Law Garden, Ellisbridge, Ahmedabad – 380006, Gujarat, India

• State Bank of India, Corporate Finance Branch, 58, Shrimali Society, Navarangpura, Ahmedabad – 380 009, Gujarat, India

Facilities :

· CC – Rs. 270.000 millions (From Bank of Baroda)

· TL – Rs. 100.000 millions (From Bank of Baroda)

· CC – Rs. 60.000 millions (From State Bank of India)

· TL – Rs. 30.000 millions (From State Bank of India)

Secured Loan	31.03.2011 (Rs. in Millions)	31.03.2010 (Rs. in Millions)
Rupee term loans banks secured	192.787	161.523
Working capital loans banks secured	288.620	277.953
Loans taken for vehicles secured	0.736	0.507
Deposits related parties secured	0.000	0.129
Total	482.143	440.112
Unsecured Loan	31.03.2011 (Rs. in Millions)	31.03.2010 (Rs. in Millions)
Loans directors unsecured	0.817	0.547
Fixed deposits unsecured	96.473	43.716
Other debt unsecured	4.740	0.088
Total	102.030	44.351

Banking Relations :	--
Auditors :
Name :	Sunil Poddar and Company Chartered Accountants
Address :	301-305, Vrajbhumi Complex, Near Prathana Flat, B/h Shilp Building, Off C.G. Road, Navarangapura, Ahmedabad – 380 009, Gujarat, India
Tel. No.:	91-79-26402893/ 26431097
Fax No.:	91-79-26462614
Pan No. :	ABEFS3044F
Associates/Subsidiaries :	Bajaj Tiles (Partnership) Address: Mehsana, Gujarat, India Line of Business: Manufacturer of Wall Tiles Safari Gold Tiles Private Limited Address: Mehsana, Gujarat, India Line of Business: Manufacturer of Wall Tiles Ajita Soil Chem Private Limited

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
8250000	Equity Shares	Rs.10/- each	Rs. 82.500 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
6825910	Equity Shares	Rs.10/- each	Rs. 68.259 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		68.259	68.259	68.259
2] Share Application Money		0.690	0.000	0.690
3] Reserves & Surplus		340.729	309.257	278.521
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		409.678	377.516	347.470
LOAN FUNDS
1] Secured Loans		482.143	440.112	444.257
2] Unsecured Loans		102.030	44.351	69.084
TOTAL BORROWING		584.173	484.463	513.341
DEFERRED TAX LIABILITIES		46.790	50.459	50.880
TOTAL		1040.641	912.438	911.691
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		362.944	397.262	416.282
Capital work-in-progress		192.241	104.491	100.009
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	272.062	267.705	240.229
	Sundry Debtors	241.024	254.215	182.510
	Cash & Bank Balances	19.757	24.638	16.393
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	102.877	93.778	76.364
Total Current Assets		635.720	640.336	515.496
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	112.020	174.516	94.725
	Current Liabilities	25.732	44.748	19.576
	Provisions	12.738	10.726	6.247
Total Current Liabilities		150.490	229.990	120.548
Net Current Assets		485.230	410.346	394.948
MISCELLANEOUS EXPENSES		0.226	0.339	0.452
TOTAL		1040.641	912.438	911.691

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	1382.092	1310.086	1147.250
		Other Income	2.459	2.561	3.405
		TOTAL (A)	1384.551	1312.647	1150.655
Less	EXPENSES
		Consumption materials changes inventories	337.942	295.071	1004.893
		Manufacturing service costs	633.480	592.799
		Employee related expenses	122.709	113.827
		Administrative selling other expenses	142.401	166.742
		TOTAL (B)	1236.532	1168.439	1004.893
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		148.019	144.208	145.762
Less	FINANCIAL EXPENSES (D)		55.997	54.044	52.530
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		92.022	90.164	93.232
Less/ Add	DEPRECIATION/ AMORTISATION (F)		49.541	47.607	44.179
	PROFIT BEFORE TAX (E-F) (G)		42.481	42.557	49.053
Less	TAX (H)		9.069	10.305	15.947
	PROFIT AFTER TAX (G-H) (I)		33.412	32.252	33.106
	Prior period expenses		1.940	1.516	0.000
	(Excess)/Short Provision of earlier year taxation		0.000	0.000	0.240
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		251.400	220.664	187.798
	BALANCE CARRIED TO THE B/S		282.872	251.400	220.664
	Earnings Per Share (Rs.)		4.89	4.72	4.85

Particulars	31.03.2012
Sales Turnover (Approximately)	1520.000

Expected Sales (2012-2013): Rs. 1600.000 millions

The above information has been parted by Mr. Jayantibhai Patel (Director)

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	2.41	2.46	2.88
Net Profit Margin (PBT/Sales)	(%)	3.07	3.25	4.28
Return on Total Assets (PBT/Total Assets}	(%)	4.25	4.10	5.26
Return on Investment (ROI) (PBT/Networth)		0.10	0.11	0.14
Debt Equity Ratio (Total Liability/Networth)		1.79	1.89	1.82
Current Ratio (Current Asset/Current Liability)		4.22	2.78	4.28

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	Yes
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
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	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	Yes
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
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	No
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

OPERATION

During the year the Company has achieved a turnover of Rs. 1382.092 millions as against Rs. 1310.086 millions in the previous year. During the year the Company has earned net profit of Rs. 33.412 millions as against net profit of Rs. 32.252 millions in the previous year. Barring unforeseen circumstances, the Directors are hopeful to get better performance in the coming years from Vitrified tiles business.

PROJECT STATUS

The Company has successfully set up vitrified double charge tiles project just near to the existing site and the Company has commenced commercial operation in the 1st Week of June, 2011.

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U14102GJ2003PLC042718
Name of the company	ORACLE GRANITO LIMITED
Address of the registered office or of the principal place of business in India of the company	206, Dev Arc, 2^nd Floor, Near Fun Republic, Opposite Big Bazar, S.G. Road, Ahmedabad – 380015, Gujarat, India Email: oraclegranito@hotmail.com
This form is for	Creation of charge
Type of charge	Movable property (not being pledge)
Particular of charge holder	206, Dev Arc, 2^nd Floor, Near Fun Republic, Opposite Big Bazar, S.G. Road, Ahmedabad – 380015, Gujarat, India Email: corahm@bankofbaroda.com
Nature of instrument creating charge	Deed of hypothecation.
Date of instrument Creating the charge	24.11.2011
Amount secured by the charge	Rs. 27.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest 3% above Base Rate i.e. 13.75% p.a. at present monthly rest. Terms of Repayment Repayable in 65 monthly installments of Rs. 0.409 millions each commencing from 31.10.2012 and last installment of Rs. 0.415 million after moratorium period of 12 months (door to door tendor of 6.50 Years) Margin 29% Extent and Operation of the charge All the properties are hypothecated and charged to the bank to secure Term Loan fresh of Rs. 27.000 millions granted by the Bank to the Company (Borrower) plus interest, commission, costs, charges, expenses and other monies payable by the Company to the Bank. Others Term Loan-VIII Fresh of Rs. 25.000 millions (sub-limit import LC (DP/DA usance upto 180 days)
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Entire movable plant and machinery, property and assets (save except book-debts and bankers goods) including movable plant and machinery The Whole of the current assets of namely, Stocks of Raw Materials, Stocks in Process, Semi-Finished and Finished Goods, Stores and spares

Fixed Assets:

• Factory Building WIP
• Office Building
• Computer
• Office Equipment
• Vehicle
• Scooter
• Electric Installation
• Feeder Machine
• Furniture and Fixture
• Laboratory Equipment
• Land
• Plant and Machinery
• Wind Mill

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.54.83
UK Pound	1	Rs.89.23
Euro	1	Rs.72.48

INFORMATION DETAILS

Information Gathered by :	SVA
Report Prepared by :	MRI

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
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.