MIRA INFORM REPORT

Report Date :

05.07.2013

IDENTIFICATION DETAILS

Name :	J.K. FENNER (INDIA) LIMITED (w.e.f. 27.06.2013)
Formerly Known As :	FENNER (INDIA) LIMITED RR BELTS AND SEALS LIMITED (w.e.f. 18.01.2007) RADICAL RESEARCH LIMITED (w.e.f. 14.08.2006) J.K. DRUG AND PHARMACEUTICALS LIMITED
Registered Office :	3, Madurai - Melakkal Road, Madurai – 625 016, Tamilnadu
Country :	India
Financials (as on) :	31.03.2012 (Profit and Loss A/c )
Date of Incorporation :	09.04.1992
Com. Reg. No.:	18-062306
Capital Investment / Paid-up Capital :	Rs. 24.831 Millions
CIN No.: [Company Identification No.]	U24231TN1992PLC062306
TAN No.: [Tax Deduction & Collection Account No.]	DELF00082F
PAN No.: [Permanent Account No.]	AAACJ7230N
Legal Form :	A Closely held Public Limited Liability Company
Line of Business :	Manufacturer of Industrial and Automotive V-Belts, Oilseals and Power Transmission Accessories.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (54)

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

Maximum Credit Limit :	USD 11510000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Exist
Comments :	Subject is a part of JK group. It is a well established and reputed company having a good track record. There appears slight dip in it profitability during 2012. However, general information position seems to be strong. Performance capability is high. The rating also take into consideration the subject gets strong support from its group company. Trade relations are reported to be fair. Business is active. Payments are reported to be regular and as per commitment. The company can be considered for normal 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 – March 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
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 : A
Rating Explanation	Having adequate degree of safety regarding timely servicing offinancial obligations. It carry low credit risk.
Date	October 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 :	3, Madurai - Melakkal Road, Madurai – 625 016, Tamilnadu, India
Tel. No.:	91-452-2383801 / 2383802
Fax No.:	91-452-2383822
E-Mail :	vijayaraghavan@fennermail.com
Website :	http://www.fennerindia.com rk@fennermail.com filmdu@fennermail.com ptd_mhq@fennermail.com export@fennermail.com apdoe@fennermail.com export@fennermail.com apdrep@fennemail.com export@fennermail.com fennerunit2@eth.net fenunit1@sancharnet.in pattabiraman@fennermail.com amlanjr@fennermail.com vijayaraghavan@fennermail.com fenner_india@fennermail.com admin@fennermail.com
Corporate Office :	Khivraj Complex II, 5^th Floor, 480, Anna Salai, Nandanam, Chennai - 600035, Tamilnadu, India
Tel. No.:	91-44-24312450 to 24312457
Fax No.:	91-44-24349016 / 24320193
E-Mail :	fenner_india@fennermail.com
Factory :	Located at : · Madurai Plant · Patancheru – (Hyderabad) · Sriperumbudur Plant – (Chennai) · Nilakottai Plant – (Madurai) · Pashamailaram Plant – (Hyderabad)

DIRECTORS

As on : 27.08.2012

Name :

Mr. Raghupati Singhania

Designation :

Nominee Director

Address :

40, Friends Colony (East), New Delhi -110 065, India

Date of Birth/Age :

08.12.1946

Qualification :

B. Sc, Fellow Institute of Directors (U.K)

Date of Appointment :

30.09.2008

DIN No.:

00036129

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	L67120WB1951PLC019430	JK TYRE AND INDUSTRIES LIMITED	Managing director	01-10-11	29-05-67	-	Active	NO
2	U25199TN1955PLC000740	FENNER (INDIA) LIMITED	Nominee director	10-09-87	10-09-87	-	Amalgamated	NO
3	U91200DL1990NPL041439	JKT&I EMPLOYEES WELFARE ASSOCIATION LIMITED	Director	10-09-90	10-09-90	-	Active	NO
4	L74999RJ1938PLC019511	JK LAKSHMI CEMENT LIMITED	Director	04-06-91	04-06-91	-	Active	NO
5	U73100RJ1991NPL006245	HARI SHANKAR SINGANIA ELASTOMER AND TYRE RESEARCH INSTITUTE	Director	09-11-91	09-11-91	-	Active	NO
6	U74899DL1989PTC035595	NIYOJIT PROPERTIES PRIVATE LIMITED	Director	15-01-92	15-01-92	04-11-08	Active	NO
7	U74899DL1989PTC035700	RADICAL AGRO PRODUCTS PRIVATE LIMITED	Director	15-01-92	15-01-92	-	Active	NO
8	U74899DL1995PTC069730	RPS SECURITIES PRIVATE LIMITED	Director	13-06-95	13-06-95	-	Active	NO
9	U74899DL1995NPL070915	PUSHPAWATI SINGHANIA RESEARCH INSTITUTE FOR LIVER, RENAL & DIGESTIVE DISEASES	Director	18-07-95	18-07-95	-	Active	NO
10	L26941UP1983PLC027278	RADICO KHAITAN LIMITED	Director	28-01-03	28-01-03	-	Active	NO
11	L24211WB1993PLC092885	Florence Investech Limited	Director	25-08-03	25-08-03	12-02-13	Active	NO
12	U67120DL2004PTC126956	HARI SHANKAR SINGHANIA HOLDINGS PRIVATE LIMITED	Director	15-06-04	15-06-04	-	Active	NO
13	U74999DL1990PLC041398	DCM ENGINEERING LIMITED	Director	30-09-04	30-09-04	-	Active	NO
14	U25110DL1975NPL234072	AUTOMOTIVE TYRE MANUFACTURERS ASSOCIATION	Director	19-07-07	19-07-07	14-01-10	Active	NO
15	U24231TN1992PLC062306	J.K. FENNER (INDIA) LIMITED	Director	30-09-08	18-10-07	-	Active	NO
16	L67120DL1947PLC116830	BENGAL & ASSAM COMPANY LIMITED	Director	22-09-09	02-02-09	-	Active	NO
17	U74899DL1989PTC035032	TANVI COMMERCIAL PRIVATE LIMITED	Additional director	20-02-13	20-02-13	-	Active	NO
18	U01400WB2000PLC091286	JK AGRI GENETICS LIMITED	Director appointed in casual vacancy	30-03-13	30-03-13	-	Active	NO

Name :

Mr. Surendra Malhotra

Designation :

Director

Address :

1-A-1, Girdhar Apartments, 28 Feroze, Shah Road, New Delhi – 110 001, India

Date of Birth/Age :

20.08.1940

Date of Appointment :

27.12.2007

DIN No.:

00271508

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	U25199TN1955PLC000740	FENNER (INDIA) LIMITED	Nominee director	09-06-93	09-06-93	-	Amalgamated	NO
2	U51909DL1946PLC116827	PARAM SHUBHAM VANIJYA LIMITED	Director	26-12-95	26-12-95	-	Active	NO
3	U85300DL1983PLC016479	JKLC EMPLOYEES' WELFARE ASSOCIATION LIMITED	Director	30-06-97	30-06-97	26-09-08	Active	NO
4	U74999DL2002PLC114816	J.K. RISK MANAGERS & INSURANCE BROKERS LIMITED	Director	03-04-02	03-04-02	-	Active	NO
5	U67120MH2001NPL132860	INSURANCE BROKERS ASSOCIATION OF INDIA	Director	28-09-07	28-09-07	-	Active	NO
6	U24231TN1992PLC062306	J.K. FENNER (INDIA) LIMITED	Director	27-12-07	18-10-07	-	Active	NO
7	U80302DL2008NPL185209	LAKSHMIPAT SINGHANIA FOUNDATION FOR HIGHER LEARNING	Director	25-11-08	25-11-08	-	Active	NO
8	U51311DL1941PLC116871	JUGGILAL KAMLAPAT UDYOG LIMITED	Director	30-09-10	26-05-10	-	Active	NO
9	U67120DL1983PLC016175	J.K. CREDIT AND FINANCE LIMITED.	Director	20-09-10	26-05-10	-	Active	NO
10	U74140DL2011PLC216818	GLOBAL STRATEGIC TECHNOLOGIES LIMITED	Director	14-09-12	31-03-11	-	Active	NO

Name :

Mr. Harsh Vardhan Lodha

Designation :

Director

Address :

8, National Tower, 13 Loudon Street, Kolkata – 700 017, West Bengal, India

Date of Birth/Age :

13.02.1967

Date of Appointment :

27.12.2007

DIN No.:

00394094

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	L74999WB1919PLC003516	ALFRED HERBERT (INDIA) LTD	Director	20-09-90	20-09-90	-	Active	NO
2	U21012DL1990PTC102759	SICPA INDIA PRIVATE LIMITED	Director	11-03-94	11-03-94	-	Active	NO
3	L26942OR1949PLC000185	OCL INDIA LIMITED	Director	26-02-96	26-02-96	12-05-08	Active	NO
4	U25199TN1955PLC000740	FENNER (INDIA) LIMITED	Director	18-03-96	18-03-96	-	Amalgamated	NO
5	U65999WB1995PTC068123	SWISS INDIA FINANCIAL SERVICES COMPANY PRIVATE LIMITED	Director	21-03-96	21-03-96	-	Active	NO
6	L01132WB1919PLC003334	BIRLA CORPORATION LIMITED	Director	23-04-96	23-04-96	-	Active	NO
7	U68192WB1983PLC036273	MANORAJ INVESTMENT LIMITED	Alternate director	20-05-96	20-05-96	28-02-12	Active	NO
8	L31300MP1945PLC001114	UNIVERSAL CABLES LIMITED	Director	24-04-98	24-04-98	-	Active	NO
9	U74140WB1981PLC033942	ELCO CONSULTANTS LIMITED	Alternate director	09-01-01	09-01-01	-	Active	NO
10	U29261WB1982PLC034537	CITY CONSULTANTS LIMITED	Alternate director	09-02-01	09-02-01	-	Active	NO
11	U74140WB1983PLC036275	ADVANCE BUSINESS SERVICES LIMITED	Alternate director	16-02-01	16-02-01	-	Active	NO
12	U24114WB1982PLC034581	HARSH CHEMICALS LIMITED	Alternate director	16-02-01	16-02-01	-	Active	NO
13	U74140WB1983PLC036276	CENTRAL BUSINESS SERVICES LIMITED	Alternate director	16-02-01	16-02-01	-	Active	NO
14	U70109WB1995PLC074449	PUNJAB PRODUCE HOLDINGS LIMITED	Director	08-04-04	08-04-04	-	Active	NO
15	U24299HR1962PLC007739	HINDUSTAN GUM AND CHEMICALS LIMITED	Director	05-05-04	05-05-04	-	Active	NO
16	L31300MP1983PLC002134	VINDHYA TELELINKS LIMITED	Director	05-05-04	05-05-04	-	Active	NO
17	U70200WB1995PTC074504	MAZBAT PROPERTIES PRIVATE LIMITED.	Director	14-06-04	14-06-04	-	Active	NO
18	U67120WB1995PTC074450	MAZBAT INVESTMENTS PRIVATELIMITED	Director	14-06-04	14-06-04	-	Active	NO
19	U51109WB1942PTC075039	BARODA AGENTS AND TRADING CO. PRIVATE LIMITED	Director	15-06-04	15-06-04	-	Active	NO
20	U74999WB1937PTC025402	THE PUNJAB PRODUCE & TRADING CO. PRIVATE LIMITED.	Director	15-06-04	15-06-04	-	Active	NO
21	U28939WB1942PTC025403	GWALIOR WEBBING CO. PRIVATE LIMITED.	Director	15-06-04	15-06-04	-	Active	NO
22	U65993WB1951PTC019688	EAST INDIA INVESTMENT CO PRIVATELIMITED	Director	15-06-04	15-06-04	-	Active	NO
23	U24134DL2007PTC159596	HITEK DERIVATIVES & POLYMERS PRIVATE LIMITED	Director	22-02-07	22-02-07	03-03-08	Active	NO
24	U31300UP1987PTC008657	UNIVERSAL TELELINKS PRIVATE LIMITED	Director	31-07-07	16-06-07	-	Active	NO
25	U24231TN1992PLC062306	J.K. FENNER (INDIA) LIMITED	Director	27-12-07	18-10-07	-	Active	NO
26	L31300MP1992PLC007190	BIRLA ERICSSON OPTICAL LIMITED	Director	29-10-07	29-10-07	-	Active	NO
27	U85300WB1926GAP005585	INDIAN CHAMBER OF COMMERCE CALCUTTA	Director	24-07-12	30-06-08	-	Active	NO
28	U74140WB2001PTC093908	ONEWORLD RESOURCES PRIVATE LIMITED	Director	29-09-09	17-10-08	-	Active	NO
29	U33200GA2009PLC006140	BIRLA FURUKAWA FIBRE OPTICS LIMITED	Director	23-07-09	23-07-09	-	Active	NO

Name :

Mr. Lajpat Rai Puri

Designation :

Director

Address :

Bunglow No. 7, Block –D Saket, New Delhi – 110 017, India

Date of Birth/Age :

08.07.1923

Date of Appointment :

27.12.2007

DIN No.:

00033240

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	U25199TN1955PLC000740	FENNER (INDIA) LIMITED	Director	10-09-87	10-09-87	-	Amalgamated	NO
2	U74899DL1993PLC054817	HANSDEEP INDUSTRIES ANDTRADING COMPANY LIMITED	Director	13-08-93	13-08-93	-	Active	NO
3	U51909DL1993PLC056150	SAGO TRADING LIMITED	Director	19-11-93	19-11-93	-	Active	NO
4	U67120DL1983PLC116663	MAYFAIR FINANCE LIMITED	Director	27-09-94	27-09-94	-	Amalgamated	NO
5	U74899DL1995PLC068913	PANCHMAHAL PROPERTIES LIMITED	Director	23-05-95	23-05-95	-	Active	NO
6	U51909DL1946PLC116827	PARAM SHUBHAM VANIJYA LIMITED	Director	26-12-95	26-12-95	-	Active	NO
7	L67120DL1975PLC116829	ASHIM INVESTMENT COMPANY LIMITED	Director	30-03-96	30-03-96	-	Amalgamated	NO
8	U74999DL2002PLC114816	J.K. RISK MANAGERS AND INSURANCE BROKERS LIMITED	Director	16-04-03	16-04-03	-	Active	NO
9	U24231TN1992PLC062306	J.K. FENNER (INDIA) LIMITED	Director	27-12-07	18-10-07	-	Active	NO
10	U65993DL1983PLC015984	SIDHI VINAYAK INVESTMENTS LIMITED	Director	28-12-07	19-11-07	-	Amalgamated	NO
11	U80302DL2008NPL185209	LAKSHMIPAT SINGHANIA FOUNDATION FOR HIGHER LEARNING	Director	25-11-08	25-11-08	-	Active	NO
12	L67120DL1947PLC116830	BENGAL & ASSAM COMPANY LIMITED	Director	22-09-09	02-02-09	-	Active	NO
13	U74899DL1995PLC066896	ACCURATE FINMAN SERVICES LIMITED	Director	30-09-09	29-06-09	-	Active	NO
14	L70101DL1945PLC129687	NAV BHARAT VANIJYA LIMITED	Director	30-09-10	01-10-09	31-10-10	Active	NO
15	U67120DL2005PLC161088	BMF INVESTMENTS LIMITED	Director	30-07-10	14-12-09	-	Active	NO
16	U45200DL2006PTC156229	L V P FOODS PRIVATE LIMITED	Director	03-08-12	25-10-11	-	Active	NO

Name :

Mr. Harsh Pati Singhania

Designation :

Director

Address :

19, Prithviraj Road, New Delhi – 110011, India

Date of Birth/Age :

31.12.1961

Date of Appointment :

27.12.2007

DIN No.:

00086742

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	U25199TN1955PLC000740	FENNER (INDIA) LIMITED	Director	24-12-88	24-12-88	-	Amalgamated	NO
2	U74899DL1988PTC033498	ROCKWOOD PROPERTIES PRIVATE LIMITED	Director	15-01-92	15-01-92	-	Active	NO
3	L21010GJ1960PLC018099	JK PAPER LIMITED	Managing director	01-01-12	09-07-92	-	Active	NO
4	U85300DL1983PLC016479	JKLC EMPLOYEES' WELFARE ASSOCIATION LIMITED	Director	21-11-92	21-11-92	26-09-08	Active	NO
5	L15412DL1942PLC114497	BHOPAL UDYOG LIMITED	Director	30-05-94	30-05-94	-	Active	NO
6	U74899DL1995NPL070915	PUSHPAWATI SINGHANIA RESEARCH INSTITUTE FOR LIVER, RENAL & DIGESTIVE DISEASES	Director	28-12-96	28-12-96	-	Active	NO
7	U99999DL1956NPL002635	FEDERATION OF INDIAN CHAMBER OF COMMERCE AND INDUSTRY.	Director	17-12-00	17-12-00	-	Active	NO
8	U30007DL1992PTC115249	ANANT DESIGN PRIVATE LIMITED	Director	05-07-01	05-07-01	-	Active	NO
9	U74899DL1995PTC067525	OAKWOOD PROPERTIES AND FARMS PRIVATE LIMITED	Director	02-07-07	02-07-07	-	Active	NO
10	U24231TN1992PLC062306	J.K. FENNER (INDIA) LIMITED	Director	27-12-07	18-10-07	-	Active	NO

Name :

Mr. Vikrampati Singhania

Designation :

Managing director

Address :

B-16, West End, New Delhi – 110021, India

Date of Birth/Age :

08.10.1965

Qualification :

MBA

Date of Appointment :

27.12.2007

DIN No.:

00040659

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	U74899DL1989PTC035700	RADICAL AGRO PRODUCTS PRIVATE LIMITED	Director	15-01-92	15-01-92	25-11-08	Active	NO
2	L67120WB1951PLC019430	JK TYRE & INDUSTRIES LIMITED	Managing director	01-04-12	14-03-94	-	Active	NO
3	L25206WB1996PLC079417	JK SUGAR LIMITED	Director	25-08-03	25-08-03	-	Amalgamated	NO
4	L24211WB1993PLC092885	FLORENCE INVESTECH LIMITED	Director	04-09-03	04-09-03	12-02-13	Active	NO
5	U93090DL1998NPL097629	YPO (DELHI CHAPTER) U/S25	Director	04-08-06	04-08-06	-	Active	NO
6	U45200DL2006PTC156229	L V P FOODS PRIVATE LIMITED	Director	05-12-06	05-12-06	01-10-07	Active	NO
7	U24231TN1992PLC062306	J.K. FENNER (INDIA) LIMITED	Managing director	27-09-10	13-10-09	-	Active	NO
8	U01400WB2000PLC091286	JK AGRI GENETICS LIMITED	Additional director	12-02-13	12-02-13	-	Active	NO

Name :

Mr. Alampundi Natarajan Ravichandran

Designation :

Whole-time Director

Address :

No. 92, Flat No. 1C, Jain Saagarika Apartment, Satya Avenue, MRC Nagar, R.A. Puram (Near Bus Stop), Chennai – 600028, Tamilnadu, India

Date of Birth/Age :

12.05.1954

Qualification :

B.Tech, MBA

Date of Appointment :

24.12.2011

DIN No.:

02485840

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	U74210DL1978PLC009175	ACORN ENGINEERING LIMITED	Director	26-08-09	16-12-08	06-05-13	Active	NO
2	U17111TN2005PLC057274	MODERN COTTON YARN SPINNERS LIMITED	Director	25-09-09	16-12-08	06-05-13	Active	NO
3	U17111TN2005PLC056558	SOUTHERN SPINNERS AND PROCESSORS LIMITED	Director	25-09-09	16-12-08	06-05-13	Active	NO
4	U24231TN1992PLC062306	J.K. FENNER (INDIA) LIMITED	Whole-time director	24-12-11	24-12-08	06-05-13	Active	NO

KEY EXECUTIVES

Name :	Mr. Raghupathy Vijayaraghavan
Designation :	Secretary
Address :	Old No. 2/2B, New No. 8/2B, Nat West Homes, AGS Colony, Velachery, Chennai – 600042, Tamilnadu, India
Date of Birth/Age :	21.11.1964
Date of Appointment :	30.08.2008
PAN No.:	AAGPR6231A

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

SHAREHOLDING DETAILS FILE ATTACHED

Equity Share Break up (Percentage of Total Equity)

As on : 27.08.2012

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	6.21
Bodies corporate	88.86
Directors or relatives of Directors	3.25
Other top fifty shareholders	1.68
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Industrial and Automotive V-Belts, Oilseals and Power Transmission Accessories.

Products :

ITC Code	Product Descriptions
401021 and 401024 and 401029.09	V and Fan Belts
401693.03	Oil Seals

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Canara Bank, Grand Central Branch, 118B, West Perumal Maistry Street, Madurai – 625001, Tamilnadu, India

· State Bank of Travancore, Madurai Main Branch, Door No. 103, Kannathal Complex, First Floor, Vakkil, New Street, Madhurai – 625001, Tamilnadu, India

Facilities :

(Rs in Millions)

SECURED LOANS	31.03.2011	31.03.2010
Rupee term loans	93.750	156.250
Foreign currency loans	158.738	195.224
Working capital loans	226.975	178.013
Total	479.463	529.487

Auditors :
Name :	S.S. Kothari Mehta and Company Chartered Accountants
Address :	146-149, Tribhuvan Complex, Easwar Nagar, Madura Road, New Delhi-110065, India
PAN No :	AABFS6730L
Holding Company (31.03.2011) :	Bengal and Assam Company Limited
Subsidiary Companies (31.03.2011) :	· Southern Spinners and Processors Limited CIN No.: U17111TN2005PLC056558 · Modern Cotton Yarn Spinners Limited CIN No.: U17111TN2005PLC057274 · BMF Investments Limited CIN No.: U67120DL2005PLC161088 · Acorn Engineering Limited CIN No.: U74210DL1978PLC009175
Fellow Subsidiary Companies (31.03.2011) :	· LVP Foods Private Limited · Panchmahal Properties Limited · Dwarkesh Energy Limited · Hifazat Chemicals Limited
Enterprise over which KMP is able to exercise significant influence (31.03.2011) :	JK Tyres and Industries Limited

CAPITAL STRUCTURE

As on : 27.08.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
80000000	Equity Shares	Rs. 10/- each	Rs. 800.000 Millions
1000000	Preference Shares	Rs. 100/- each	Rs. 100.000 Millions
	Total		Rs. 900.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2483066	Equity Shares	Rs. 10/- each	Rs. 24.831 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		24.831	24.831
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		2853.865	2503.341
4] (Accumulated Losses)		0.000	0.000
NETWORTH		2878.696	2528.172
LOAN FUNDS
1] Secured Loans		479.463	529.487
2] Unsecured Loans		598.846	598.479
TOTAL BORROWING		1078.309	1127.966
DEFERRED TAX LIABILITIES		133.245	120.459
TOTAL		4090.250	3776.597
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1692.920	1571.268
Capital work-in-progress		81.880	34.170
INVESTMENT		1724.805	1724.805
DEFERRED TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	371.704	257.472
	Sundry Debtors	695.577	594.918
	Cash & Bank Balances	46.234	45.102
	Other Current Assets	7.550	7.568
	Loans & Advances	650.476	581.721
Total Current Assets		1771.541	1486.781
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	696.815	627.863
	Other Current Liabilities	145.249	94.528
	Provisions	338.832	318.036
Total Current Liabilities		1180.896	1040.427
Net Current Assets		590.645	446.354
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		4090.250	3776.597

Note :

Balance sheet for the year ended 2012 is not available only Profit and loss A/c for the year 2012 is available.
PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	4588.223	4041.003	3230.318
		Other Income	92.760	109.528	82.120
		TOTAL (A)	4680.983	4150.531	3312.438
Less	EXPENSES
		Cost of Materials Consumed	1848.673	1554.669
		Purchase of Stock in Trade	362.905	331.289
		Changes in Inventories of Finished Goods	2.509	(64.598)
		Employees Benefits Expenses	587.666	515.150
		Other expenses	969.337	876.100
		TOTAL (B)	3771.090	3212.610	2494.544
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		909.893	937.921	817.894
Less	FINANCIAL EXPENSES (D)		298.238	101.018	119.293
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		611.655	836.903	698.601
Less/ Add	DEPRECIATION/ AMORTISATION (F)		208.210	174.718	145.049
	PROFIT BEFORE TAX (E-F) (G)		403.445	662.185	553.552
Less	TAX (H)		87.901	189.475	162.490
	PROFIT AFTER TAX (G-H) (I)		315.544	472.710	391.062
	EARNINGS IN FOREIGN CURRENCY		NA	418.295	312.154
	Earnings Per Share (Rs.)		127.08	190.37	230.49

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	6.74	11.39	11.81
Net Profit Margin (PBT/Sales)	(%)	8.79	16.39	17.14
Return on Total Assets (PBT/Total Assets}	(%)	NA	19.11	18.10
Return on Investment (ROI) (PBT/Networth)		NA	0.14	0.22
Debt Equity Ratio (Total Debt /Networth)		NA	0.37	0.45
Current Ratio (Current Asset/Current Liability)		NA	1.50	1.43

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	Yes
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

LITIGATION DETAILS :

CASE

M/S. Vadivel Sizing And Weaving ... vs M/S. Fenner (India) Limited on 20 December, 2012

DATED : 20.12.2012

CORAM:

THE HONOURABLE MR.JUSTICE B. RAJENDRAN

CRL. RC. Nos. 98 to 103 of 2009

and

M.P. Nos. 2, 2, 2, 2 and 2 of 2009

--

1. M/s. Vadivel Sizing and Weaving Mills (P) Limited

rep. by its Managing Director

Mr. S.P. Saminathan

Arulpuram, Veerapandi Via.,

Tirupur 641 605

2. Mr. S.P. Saminathan .. Petitioners in

Arulpuram, Veerapandi Via., all the Criminal Rev.Cases

Tirupur 641 605

Versus

M/s. Fenner (India) Limited

Textile Division

Administrative Office

7/54, Junction Main Road

3rd Floor, Ideal Garden Complex

Salem 4

rep. by its power of attorney holder

Mr. C. Ravichandran .. Respondent in

Assistant Manager (Exports) all the Criminal Rev. Cases

Petitions filed under Sections 397 read with 401 of the Criminal Procedure Code, against the Judgment dated 12.09.2008 made in Crl.A. Nos. 64, 65, 66, 67 and 68 of 2004 on the file of the Additional District and Sessions Judge-cum-Fast Track Court No.2, Salem modifying the judgment dated 16.04.2004 made in C.C. Nos. 412, 413, 485, 486 and 647 of 1999 on the file of Judicial Magistrate No.2, Salem.

For Petitioners : Mr. S. Mouli

in all the Criminal Revision Case

For Respondent : Mr. S. Kalyanaraman

in all the Criminal Revision Case

COMMON ORDER

The respondent herein filed C.C. Nos. 412, 413, 485, 486 and 647 of 1999 on the file of Judicial Magistrate No.2, Salem against the petitioners herein under Section 138 of the Negotiable Instruments Act. After conclusion of trial, the trial court convicted the petitioners under Section 138 of the Negotiable Instruments Act and sentenced them to pay a fine of Rs. 0.003 Millions , in default to undergo simple imprisonment for a period of six months and also directed the petitioners to pay compensation of Rs. 0.433 Millions, Rs. 0.046 Millions, Rs. 0.407 Millions, Rs. 0.240 and Rs. 0.235 Millions being the cheque amount as contemplated under Section 357 (3) of Cr.P.C. Aggrieved by the conviction and sentence imposed on them, the petitioners have filed Crl.A. Nos. 64, 65, 66, 67 and 68 of 2004 on the file of the Additional District and Sessions Judge-cum-Fast Track Court No.2, Salem and by judgment dated 12.09.2008, the first appellate Court, while upholding the conviction imposed on the petitioners under Section 138 of the Negotiable Instruments Act, modified the sentence to pay only the cheque amount in the respective cases within two months, failing which to undergo simple imprisonment for a period of six months. As against the same, the petitioners have come forward with the present Criminal Revision Cases.

NOTE :

The registered office of the company has been shifted from 7, Council House Street, Kolkata - 700001, West Bengal, India to the present address w.e.f. 27.01.2007.

UNSECURED LOANS :

(Rs in Millions)

PARTICULARS	31.03.2011	31.03.2010
Foreign currency loans	49.733	88.324
Fixed deposits	244.113	260.155
Other debts	305.000	250.000
Total	598.846	598.479

BANKERS CHARGES REPORT AS PER REGISTRY :

Corporate identity number of the company	U24231TN1992PLC062306
Name of the company	FENNER (INDIA) LIMITED
Address of the registered office or of the principal place of business in India of the company	3, Madurai - Melakkal Road, Madurai - 625016, Tamilnadu, India Email : vijayaraghavan@fennermail.com
This form is for	Modification of charge
Charge identification number of the modified	10073541
Type of charge	· Book debts · Others (Whole of the current assets of the company)
Particular of charge holder	State Bank Of India, Commercial Branch, 6A West Veli Street, Madurai – 625001, Tamilnadu, India Email : ganapathy.s@sbi.co.in
Nature of description of the instrument creating or modifying the charge	CF1-Working Capital Consortium Agreement dated 18.03.2013 CF5-Letter regarding grant of Individual limits within the overall limit dated 18.03.2013
Date of instrument Creating the charge	18.03.2013
Amount secured by the charge	Rs. 1094.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest : Banks may specify generally from time to time. Presently Base Rate plus spread of respective banks. Terms of Repayment : On Demand Margin : As per the Agreement Extent and Operation of the charge : Pari pasu first Charge on the entire Current Assets of the company, namely, stocks of Raw materials, Stocks in Process, Semi-finished and Finished Goods, Spares and Stores not relating to the Plant and Machinery (Consumable Stores and Spares), Bills Receivables and Book Debts, both present and future on pari passu basis with other banks under working capital consortium. Second charge on the immovable assets of the Company, on pari passu basis with other Banks under working capital consortium.
Short particulars of the property charged	Pari pasu first Charge on the whole of the Current Assets of the company, namely, stocks of Raw materials, Stocks in Process, Semi-finished and Finished Goods. Spares and Stores not relating to the Plant & Machinery (Consumable Stores and Spares), Bills Receivables and Book Debts, both present and future on pari passu basis with other consortium members. Pari Pasu second charge on the immovable assets of the Company, with other Banks under working capital consortium.
Date of latest modification prior to the present modification	06.06.2012
Particulars of the present modification	The Existing charge of Rs. 954.000 Millions is reduced to Rs.1094.000 Millions by way of First Charge on the whole of the Current Assets of the company, namely, stocks of Raw materials, Stocks in Process, Semi-finished and Finished Goods, Second charge on the immovable assets of the Company, on pari passu basis with other Banks under working capital consortium.

FIXED ASSETS :

· Land and Building

· Plant and Machinery

· Motor Vehicles

· Computer

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. 60.09
UK Pound	1	Rs. 91.58
Euro	1	Rs. 78.08

INFORMATION DETAILS

Report Prepared by :

NIS

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--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		54

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.