MIRA INFORM REPORT

Report Date :

04.01.2013

IDENTIFICATION DETAILS

Name :	OBEETEE TEXTILES PRIVATE LIMITED
Registered Office :	Bisunderpur Civil Lines, Mirzapur- 231001, Uttar Pradesh
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	14.09.1995
Com. Reg. No.:	20- 018737
Capital Investment / Paid-up Capital :	Rs. 25.200 Millions
CIN No.: [Company Identification No.]	U18101UP1995PTC018737
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Non Woven Fabrics and Technical Textiles
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 980000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. The latest financial are not made available with the government department. As per previous year’s record, the company performance seems to be good. Financially appears to be strong. Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct and as per commitment. The company can be considered for normal business dealings at usual trade terms and condition.

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	CRISIL
Rating	(CRISIL) BBB+
Rating Explanation	Having Moderate degree of safety regarding timely servicing of financial obligations. It carry Moderate credit risk.
Date	December 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 :	Bisunderpur Civil Lines, Mirzapur- 231001, Uttar Pradesh, India
Tel. No.:	91- 5442- 252304, 252610, 252304
Mobile No.:	Not Available
Fax No.:	91- 5442- 252413
E-Mail :	obtindia@obeetee.com
Website :	www.obeetee.com
Factory :	Plot No- 1A, Sector- 2, IIE, Pantnagar, Rudrapur (Distt. : Udham Singh Nagar), Uttarakhand, India
Tel. No.:	91- 5944- 250189/ 190, 250085
Fax No.:	91- 5944- 250189
E-Mail :	otl.rudrapur@obeetee.com
Marketing Offices :	New Delhi 1011- B, 10^th Floor, Indraprakash Building, 21, Barakhamba Road, New Delhi- 110001, India Phones : 91- 11- 23354261, 39541545 Fax : 91- 11- 23354260 otl.delhi@obeetee.com Contact Person : Mr. Vikas Gupta G. M. (Technical- Textile and Export) Mobile : 91- 9810153171 vikas.gupta@obeetee.com Mr. Anil Tripathi (Sr. Manager – Sales and Marketing) Mobile : 91-9350190067 anil.tripathi@obeetee.com Chandigarh Atam Chambers, Chamber No. 11, 2^nd Floor, S. C. O. 371- 372 Sector 35- B, Chandigarh – 160036 Phones : 91- 172- 3249667 Fax : 91- 172- 2664334 otl.chandigarh@obeetee.com Contact Person : Mr. Rahul Gagneja (Manager – Sales and Marketing) Mobile : 91- 9316916674 Rahul.gagneja@obeetee.com

DIRECTORS

As on 06.08.2012

Name :

Mr. Vishnu Raj Sharma

Designation :

Director

Address :

Post and Village – Amol, Mirzapur- 231001, Uttar Pradesh, India

Date of Birth/Age :

27.06.1951

Date of Appointment :

06.08.2012

DIN No.:

00130701

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U17226UP1932PTC000475	OBEETEE PRIVATE LIMITED	Managing director	11/09/1993	11/09/1993	Active	NO
2	U92411UP1993NPL015824	MIRZAPUR CLUB LIMITED	Director	15/10/1993	15/10/1993	Active	NO
3	U45208UP2006PLC032301	PURVANCHAL SPECIAL ECONOMIC ZONES AND TEXTILE PARK LIMITED	Director	29/08/2006	29/08/2006	Active	NO
4	U18101UP1995PTC018737	OBEETEE TEXTILES PRIVATE LIMITED	Director	06/08/2012	19/05/2012	Active	NO

Name :

Mr. Mohd Hassan Khan

Designation :

Director

Address :

Narghat, Mirzapur- 231001, Uttar Pradesh, India

Date of Birth/Age :

06.08.1959

Date of Appointment :

13.08.1999

DIN No.:

00173404

Name :

Mr. Rudra Chatterjee

Designation :

Director

Address :

6, Tilak Road, Kolkata- 700029, West Bengal, India

Date of Birth/Age :

10.06.1977

Date of Appointment :

06.08.2012

DIN No.:

01504650

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U01132WB1912PLC002104	LUXMI TEA CO LTD	Director	10/08/2007	21/05/2007	Active	NO
2	U51226WB1920PLC003864	I T P LTD	Director	10/08/2007	01/06/2007	Active	NO
3	U70101WB1994PLC063441	LUXMI TOWNSHIP LTD	Whole-time director	11/06/2012	11/06/2007	Active	NO
4	U01132AS1946PTC000738	BHUYANKHAT TEA CO.PVT LTD	Director	31/03/2008	31/03/2008	Amalgamated	NO
5	U01405WB2008PLC126077	LUXMI PORTFOLIO LIMITED	Director	24/05/2008	24/05/2008	Active	NO
6	U17226UP1932PTC000475	OBEETEE PRIVATE LIMITED	Whole-time director	04/05/2011	18/09/2008	Active	NO
7	U24129WB1984PTC037677	MATELLI TEA COMPANY PRIVATE LIMITED	Director	09/09/2010	20/10/2009	Active	NO
8	U25209WB1984PTC037297	LUXMI LATEX PRIVATE LIMITED	Director	09/09/2010	15/06/2010	Active	NO
9	U01403WB2010PTC152881	MAKAIBARI TEA COMPANY PRIVATE LIMITED	Director	08/09/2010	08/09/2010	Active	NO
10	U18101UP1995PTC018737	OBEETEE TEXTILES PRIVATE LIMITED	Director	06/08/2012	19/05/2012	Active	NO

Name :

Mr. Dipankar Chatterji

Designation :

Additional director

Address :

Flat No. 2A, Minto Park Syndicate 13, D. L. Khan Road, Kolkata- 700027, West Bengal, India

Date of Birth/Age :

23.08.1948

Date of Appointment :

21.06.2010

DIN No.:

00031256

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	U55101HP1972PTC003175	SPAN MOTELS PRIVATE LIMITED	Director	28/03/1984	28/03/1984	-	Active	NO
2	U15137HP1986PTC007174	SPAN AGRO PROPERTIES PVT LTD	Director	28/02/1992	28/02/1992	14/06/2007	Active	NO
3	L26109WB1946PLC013294	HINDUSTHAN NATIONAL GLASS & INDUSTRIES LIMITED	Director	10/06/2002	10/06/2002	-	Active	NO
4	U64202WB2000PLC092193	NICCO VENTURES LIMITED	Director	21/05/2004	21/05/2004	-	Active	NO
5	U75142WB1967SGC026988	WEST BENGAL INDUSTRIAL DEVELOPMENT CORPN LTD	Director	29/12/2004	29/12/2004	-	Active	NO
6	L65993WB1970PLC027781	UNITED CREDIT LTD	Director	23/07/2005	23/07/2005	26/07/2011	Active	NO
7	U24211TN1979PTC007870	ProVentus LIFE SCIENCES PRIVATE LIMITED	Director	30/09/2006	01/09/2005	15/03/2008	Active	NO
8	U72200WB2005PTC102280	PANTHEON DATA SERVICES PRIVATE LIMITED	Director	01/01/2006	01/01/2006	-	Active	NO
9	U45400WB1983PLC036343	HILAND PROJECTS LIMITED	Director	22/03/2006	22/03/2006	02/09/2009	Active	NO
10	U74140WB2006PTC110626	DELPHI MANAGEMENT SERVICES PRIVATE LIMITED	Director	18/07/2006	18/07/2006	-	Active	NO
11	U28931WB1990PLC049621	PATTON INTERNATIONAL LTD	Director	21/09/2007	02/04/2007	23/04/2009	Active	NO
12	U74899DL1985PTC022620	SPAN AIR PRIVATE LIMITED.	Director	27/09/2007	14/06/2007	-	Active	NO
13	U67120WB1923PLC004707	THE CALCUTTA STOCK EXCHANGE LIMITED	Director	24/12/2007	24/12/2007	30/11/2011	Active	NO
14	U93030WB2008PTC125730	CENTENARY TRADING PRIVATE LIMITED	Director	15/05/2008	15/05/2008	09/02/2011	Active	NO
15	L74210JH1962PLC000700	TRF LIMITED.	Director	21/06/2008	21/06/2008	-	Active	NO
16	U74900WB2009PTC134753	CSE CAPITAL MARKETS PRIVATE LIMITED	Director	10/08/2009	10/08/2009	16/04/2010	Active	NO
17	U72200DL2004PLC228400	VIOM NETWORKS LIMITED	Director	09/09/2010	25/11/2009	23/11/2012	Active	NO
18	U18101UP1995PTC018737	OBEETEE TEXTILES PRIVATE LIMITED	Director	21/06/2010	01/03/2010	-	Active	NO
19	U26921OR1958PLC000349	TRL Krosaki Refractories Limited	Director	24/07/2010	13/05/2010	31/05/2011	Active	NO
20	L70101WB1939PLC009800	TEXMACO INFRASTRUCTURE & HOLDINGS LIMITED	Director	25/09/2010	25/09/2010	-	Active	NO
21	U65993WB1988PLC044077	PEERLESS FINANCIAL SERVICES LTD	Director	06/08/2012	06/08/2012	-	Active	NO

Name :

Mr. Sanjiva Gupta

Designation :

Director

Address :

Surekha Estate, Mahant Ka Shivala, Mirzapur- 231001, Uttar Pradesh, India

Date of Birth/Age :

19.01.1962

Date of Appointment :

23.07.2004

DIN No.:

00155743

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U92411UP1993NPL015824	MIRZAPUR CLUB LIMITED	Director	14/03/2000	14/03/2000	Active	NO
2	U18101UP1995PTC018737	OBEETEE TEXTILES PRIVATE LIMITED	Director	23/07/2004	23/07/2004	Active	NO
3	U52100UP2011PTC044361	OBEETEE RETAIL PRIVATE LIMITED	Director	14/04/2011	14/04/2011	Active	NO
4	U17291UP2012PTC049535	SITARGANJ FIBERS PRIVATE LIMITED	Director	26/03/2012	26/03/2012	Active	NO

Name :

Mr. Bhim Rathke

Designation :

Director

Address :

D- 77, Defence Colony, New Delhi- 110024, Delhi, India

Date of Birth/Age :

05.07.1938

Date of Appointment :

21.06.2010

DIN No.:

01132413

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U51909DL2008PTC178909	DORMEUIL INDIA PRIVATE LIMITED	Director	02/06/2008	02/06/2008	Active	NO
2	U18101UP1995PTC018737	OBEETEE TEXTILES PRIVATE LIMITED	Director	21/06/2010	01/01/2010	Active	NO
3	U52100UP2011PTC044361	OBEETEE RETAIL PRIVATE LIMITED	Director	14/04/2011	14/04/2011	Active	NO
4	U17291UP2012PTC049535	SITARGANJ FIBERS PRIVATE LIMITED	Director	26/03/2012	26/03/2012	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 06.08.2012

Names of Shareholders	No. of Shares
Obeetee Private Limited	2519900
Sanjiva Gupta- Nominee of Obeetee Private Limited	100
Total	2520000

Equity Share Break up (Percentage of Total Equity)

As on 06.08.2012

Category	Percentage
Bodies corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Non Woven Fabrics and Technical Textiles

PRODUCTION STATUS (AS ON 31.03.2010)

Particulars	Actual Production
Electricity (Unit/ Sq. Mtr.)	0.18
Wooden Stick (Kg/ Sq. Mtr)	0.23

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Ø State Bank of India, Specialised Commercial Branch, Chandra Chambers, Club Road, Varanasi – 221002, Uttar Pradesh, India

Ø Small Industries Development Bank of India, Lower Ground Floor, D1- D2/6, Civil Lines, Near Aman Stores, Rudrapur- 263153, Uttaranchal, India

Facilities :

Secured Loan	31.03.2011 (Rs. in Millions)	31.03.2010 (Rs. in Millions)
A. Working Capital Loans
From Bank: In Rupees In Foreign Currency	----- 44.650	7.089 45.140
The above loans are secured by first charge on entire current assets of the company, present & future and further secured by equitable mortgage of land in Saripur, Gopiganj, plant and machinery of closed Gopiganj unit, residential flats at Rudrapur and second charge over the property/ fixed assets situated at Pantnager, Distt. Udhamsingh Nagar. The Loan is further secured by Corporate Guarantee of Obeetee Private Limited, the Holding Company.
B. Term Loan
From Financial Institution The above loan is secured by first charge by way of hypothecation of all movable assets including plant and machinery, furniture, fixtures etc. both present and future, subject to charge created in favour of company's banker on current assets of the company and first charge by way of mortgage of immoveable properties situated at Pantnagar, Distt. Udham Singh Nagar. Term Loan is additionally secured by pledged of Fixed Deposit of Rs.2.500 Millions and Corporate Guarantee of Obeetee Private Limited, the Holding Company.	228.810	229.358
Total	273.460	281.587
Unsecured Loan	31.03.2011 (Rs. in Millions)	31.03.2010 (Rs. in Millions)
From Holding Company	177.500	52.500
Total	177.500	52.500

Banking Relations :	----
Auditors :
Name :	P L Tandon and Company Chartered Accountant
Address :	Westcott Building, M G Road, Kanpur- 208001, Uttar Pradesh, India
Tel. No.:	91- 512- 2366774, 2367262
Fax No.:	91- 512- 3022991
E-Mail :	pltandon1957@rediffmail.com pltandon1957@gmail.com
Holding Company :	Obeetee Private Limited [CIN No.: U17226UP1932PTC000475]

CAPITAL STRUCTURE

As on 06.08.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
3000000	Equity Shares	Rs.10/- each	Rs. 30.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2520000	Equity Shares	Rs.10/- each	Rs. 25.200 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		25.200	19.200	19.200
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		220.718	168.108	150.341
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		245.918	187.308	169.541
LOAN FUNDS
1] Secured Loans		273.460	281.587	295.694
2] Unsecured Loans		177.500	52.500	55.000
TOTAL BORROWING		450.960	334.087	350.694
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		696.878	521.395	520.235
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		253.480	260.019	284.304
Capital work-in-progress		196.874	21.444	25.010
INVESTMENT		0.000	0.000	0.000
DEFERRED TAX ASSETS		6.800	1.194	----
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	55.481	40.623	35.683
	Sundry Debtors	247.100	237.774	214.863
	Cash & Bank Balances	29.339	22.735	39.144
	Other Current Assets	1.204	0.712	0.425
	Loans & Advances	46.750	49.776	50.533
Total Current Assets		379.874	351.620	340.648
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	116.775	89.851	112.386
	Other Current Liabilities	18.462	18.218	12.126
	Provisions	4.913	4.813	5.215
Total Current Liabilities		140.150	112.882	129.727
Net Current Assets		239.724	238.738	210.921
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		696.878	521.395	520.235

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	723.488	567.231	474.166
		Other Income	N.A	N.A	N.A
		TOTAL	N.A	N.A	N.A
Less	EXPENSES
		Office Expenses	N.A	N.A	N.A
		Administrative Expenses	N.A	N.A	N.A
		Advertising Expenses	N.A	N.A	N.A
		TOTAL	N.A	N.A	N.A
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		116.804	95.064	88.421
Less	FINANCIAL EXPENSES		24.785	26.711	15.566
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		92.019	68.353	72.855
Less/ Add	DEPRECIATION/ AMORTISATION		59.946	51.717	36.242
	PROFIT BEFORE TAX		32.073	16.636	36.613
Less	TAX		3.462	(1.131)	0.433
	PROFIT AFTER TAX		28.611	17.767	36.180
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		1.608	0.841	0.661
Less	APPROPRIATIONS
		Transfer to General Reserve	25.000	17.000	36.000
	BALANCE CARRIED TO THE B/S		5.219	1.608	0.841
	Earnings Per Share (Rs.)		11.35	9.25	18.84

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
Net Profit Margin (PBT/Sales)	(%)	4.43	2.93	7.72
Return on Total Assets (PBT/Total Assets}	(%)	5.06	2.72	5.86
Return on Investment (ROI) (PBT/Networth)		0.13	0.09	0.22
Debt Equity Ratio (Total Liability/Networth)		2.40	2.39	2.83
Current Ratio (Current Asset/Current Liability)		2.71	3.11	2.63

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

OPERATING RESULTS:

During the Financial Year 2010-11 the Company has been able to achieve a sales turnover of Rs. 723.488 Millions as compared to Rs. 567.231 Millions in the previous year, registering an impressive growth of 28%. On the aforesaid Turnover the Company has been able to earn a profit before tax of Rs. 32.073 Millions as compared to a profit of Rs. 16.636 Millions in the previous year.

EXPANSION PROJECTS:

Sitarganj Project: The Company has established a new manufacturing unit of Recycled Polyester Staple Fibre, having a capacity of 1040 Tonnes per month, in Sitarganj (Uttarakhand) the commercial production of which has started on 9th July 2011. Setting up of this unit will provide the Company backward integration for the existing Non Woven Business and also diversification to another business line in the field of textile.

This expansion will also provide the Company a regular and secured source for supply of raw material to the existing Non Woven Business. Total cost of the project was approximately Rs. 240.000 Millions

Rudrapur Project: The Company has also established a new manufacturing unit of Non-woven Textile Products for production of Headliner and other felts of special category, having a capacity of 0.350 Million Sqm. per month, in Rudrapur (Uttarakhand), commercial production of which has started on 11th July 2011. Total cost of the project was approximately Rs. 60.000 Millions. Above projects have been financed by equity contribution of Rs. 30.000 Millions and unsecured loan of Rs. 125.000 Millions from Holding Company, Obeetee Private Limited and term loan of Rs. 42.000 Millions and working capital limits of Rs. 0.650 Million from Company’s banker, State Bank of India and term loan of Rs. 30.000 Millions from Small Industries Development Bank of India.

FIXED ASSETS

• Land (Leasehold)
• Land (Freehold)
• Building
• Plant and Machinery
• Electrical Installation
• Computers
• Furniture and Fittings
• Office Equipment
• Vehicles

CONTINGENT LIABILITIES

In respect of: Disputed demands which are not admitted as liabilities by the company, against which appeals have been filed before appropriate authorities filed before appropriate authorities.	As at 31^st March 2011	As at 31^st March 2010
Sales Tax	2.733	4.298
Excise Duty	77.599	77.599
Corporate guarantee given to State Bank of India for loan taken by Obeetee Private Limited (a Holding Company)	185.735	155.119
Bonds executed with Commissioner of Custom, Mumbai alongwith counter indemnity provided in respect of Bank Guarantee for importing machinery at a concessional rate of duty under EPCG Scheme.	107.903	119.198
Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances)	16.434	43.718

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U18101UP1995PTC018737
Name of the company	Obeetee Textiles Private Limited
Address of the registered office or of the principal place of business in India of the company	Bisunderpur Civil Lines, Mirzapur- 231001, Uttar Pradesh, India
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	90275901
Type of charge	Immovable property Book debts Movable property (not being pledge)
Particular of charge holder	State Bank of India, Specialised Commercial Branch, Chandra Chambers, Club Road, Varanasi – 221002, Uttar Pradesh, India
Nature of instrument creating charge	(i) Supplemental Agreement of Hypothecation of Goods and Assets for increase in the overall limit (Form C.2A) (ii) Letter regarding the grant of individual limits within the overall limit (Form C.5) (iii) Memorandum of deposit for creation of charge for Term Loan/overall Limit.
Date of instrument Creating the charge	14.07.2011
Amount secured by the charge	Rs. 362.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest On Working Capital @ 6.75 above Base Rate per annum with monthly rests. On Term Loan @ 6.75%+1.00% above Base Rate per annum with monthly rests. Terms of Repayment 1. Working Capital - Repayable on demand. 2. Term Loan of Rs. 42.000 Millions shall be repayable as under:- Financial Year Amount (Rupees in Millions) 2012-13 4.800 2013-14 6.000 2014-15 7.200 2015-16 7.200 2016-17 8.400 2017-18 8.400 Total Repayment 42.000 (Exclusive of Interest) Margin 25% on Raw Material 50% on Stock in process 25% on Finished Goods 40% on Book Debts/receivables 10% on Letter of Credit (Lien On DP) 10% on Bank Guarantee (Lien On DP) 41.25% On Term Loan Extent and Operation of the charge The Company's movable & immovable properties as mentioned hereunder (As per column No. 15) are hypothecated & mortgaged to secure following credit facilities aggregating to Rs. 3.620 Millions granted by the Bank to the Borrower:- 1.CC (Stock/B/D) Rs. 1.650 Millions (FCNRB) 2. Term Loan Rs. 0.420 Millions 3. Letter of Credit* Rs. 1.300 Millions 4. Bank Guarantee* Rs. 0.250 Millions TOTAL Rs. 3.620 Millions *One way Interchangeability of Rs. 0.100 Millions from BG to LC Others
Short particulars of the property or asset(s) charged (including complete address and location of the property)	i) Hypothecation by way of first charge on entire current assets (existing & future) & all other movable assets of the Borrower wherever lying stored or kept or in transit. ii) Hypothecation of all present and future book debts, outstanding moneys,receivables,claims,bills,invoices,documents,contracts,investment & right. iii) Hypothecation of all present & future machinery belonging to or in the possession or under the control of the borrower wherever lying stored & kept or in transit iv) First Charge on entire fixed assets which is purchased out of sale proceeds of Gopiganj Unit & Second charge over the property/fixed assets situated at plot no. 1 A Sector -2 Pantnagar. v) Equitable mortgage of Company's immovable properties situated at Residential Flats nos. 107, 303, 305, 307, 404 at OMAXE RIVIERA Township Rudrapur. vi) Equitable mortgage of Company's immovable properties situated at Sharipur Gopigang. vii) Equitable mortgage of Company's immovable property : Sale Deed No. 3349, Dt. 21.07.2010 vide bahi No. I, Zild No. 165, In page No. 165-206. viii) Equitable mortgage of Company's immovable property : Sale Deed No. 2981, Dt. 22.06.2010 vide bahi No. I, Zild No. 158, In page No. 51-72.
Date of instrument modifying the charge	26.02.2010
Particulars of the present modification	The various credit facilities granted by the Bank has now been enhanced from Rs. 2.200 Millions to Rs. 3.620 Millions. Therefore, total amount of charge secured against Hypothecation of entire current assets, book debts & entire fixed assets etc. as per details mentioned in column No. 15 above has now been enhanced from Rs. 2.200 Millions to Rs. 3.620 Millions

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. 54.39
UK Pound	1	Rs. 88.76
Euro	1	Rs. 72.19

INFORMATION DETAILS

Report Prepared by :

RJT

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	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		45

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.