MIRA INFORM REPORT

Report Date :

11.07.2013

IDENTIFICATION DETAILS

Name :	IAC ELECTRICALS PRIVATE LIMITED
Registered Office :	701, Central Plaza, 2/6, Sarat Bose Road, Kolkata – 700 020, West Bengal
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	27.01.1987
Com. Reg. No.:	21-041799
Capital Investment / Paid-up Capital :	Rs.22.419 millions
CIN No.: [Company Identification No.]	U31102WB1987PTC041799
TAN No.: [Tax Deduction & Collection Account No.]	CALI00177C
PAN No.: [Permanent Account No.]	AAACI6040B
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturing and Exporting of Power Transmission Line Hardware and Accessories.
No. of Employees :	200 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Maximum Credit Limit :	USD 898000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. It has recorded better growth in its turnover and profits during 2012. Financial position of the company is good. Trade relations are reported as decent. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – 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: BBB-
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	January 16, 2013

Rating Agency Name	CRISIL
Rating	Short Term Rating: A3
Rating Explanation	Moderate degree of safety and higher credit risk.
Date	January 16, 2013

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. Abhishek
Designation :	Account/ Finance Department
Contact No.:	91-33-24858814
Date :	10.07.2013

LOCATIONS

Registered Office/ Headquarters :	701, Central Plaza, 2/6, Sarat Bose Road, Kolkata – 700 020, West Bengal, India
Tel. No.:	91-33-24858814/ 15/ 16/ 17
Fax No.:	91-33-24858820
E-Mail :	info@iacelectricals.com
Website :	http://www.iacelectricals.com
Factory Unit 1 :	6/1, Bamacharan Roy Road, Behala, Kolkata – 700 034, West Bengal, India
Factory Unit 2 :	Sankrail Industrial Park (Plot No.53), Village - Jaladhulagori P.O. – Dhulagori, Bombay Road (NH – 6), Howrah – 711 302, West Bengal, India

DIRECTORS

As on 28.09.2012

Name :

Mr. Man Mohan Garodia

Designation :

Director

Address :

FE-384, Sector - III, Salt Lake City, Kolkata – 700 106, West Bengal, India

Date of Birth/Age :

27.10.1942

Date of Appointment :

27.01.1987

PAN No.:

ADSPG3447Q

DIN No.:

00825672

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	U31102WB1987PTC041799	IAC ELECTRICALS PRIVATE LIMITED	Director	27/01/1987	27/01/1987	-	Active	NO
2	U19111WB1991PTC052447	KAYCEE KALA FINVEST PRIVATE LIMITED	Director	28/08/2007	28/08/2007	01/04/2010	Active	NO
3	U72200WB2008PTC121504	MIDAS TECHNOSYSTEM PRIVATE LIMITED	Director	07/01/2008	07/01/2008	01/04/2010	Active	NO
4	U51909WB1993PTC058643	RAINEY TRADING PRIVATE LIMITED	Director	10/11/2008	10/11/2008	01/04/2010	Active	NO
5	U51109WB2005PTC105312	REBATI AGENCIES PRIVATE LIMITED	Director	09/03/2010	09/03/2010	-	Active	NO
6	U51909WB2008PTC123278	TECHNO MERCANTILE PRIVATE LIMITED	Director	10/05/2011	10/05/2011	-	Active	NO
7	U52100WB2010PTC149612	GOLDENGATE DISTRIBUTORS PRIVATE LIMITED	Director	11/05/2011	11/05/2011	-	Active	NO
8	U65900WB2012PTC180301	CACHET FINANCE PRIVATE LIMITED	Director	13/04/2012	13/04/2012	-	Active	NO
9	U70102WB1991PLC052724	LANSDOWN DEVELOPERS SERVICES LIMITED	Director	18/03/2013	18/03/2013	-	Active	NO

Name :

Mr. Brij Mohan Garodia

Designation :

Director

Address :

9A, Ananda Building, 116, Southern Avenue, Kolkata – 700 029, West Bengal, India

Date of Birth/Age :

20.01.1948

Date of Appointment :

31.03.2010

PAN No.:

ADDPG2527J

DIN No.:

01917787

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	U72200WB2008PTC121504	MIDAS TECHNOSYSTEM PRIVATE LIMITED	Director	07/01/2008	07/01/2008	01/04/2010	Active	NO
2	U31900WB2008PTC125846	TLP ELECTRICALS PRIVATE LIMITED	Director	19/05/2008	19/05/2008	01/04/2010	Active	NO
3	U51909WB2006PTC112219	ENDEAVOUR VYAPAAR PRIVATE LIMITED	Director	21/02/2013	03/08/2009	-	Active	NO
4	U51109WB2005PTC105312	REBATI AGENCIES PRIVATE LIMITED	Director	21/02/2013	09/03/2010	-	Active	NO
5	U31102WB1987PTC041799	IAC ELECTRICALS PRIVATE LIMITED	Director	31/03/2010	31/03/2010	-	Active	NO
6	U51909WB2008PTC123278	TECHNO MERCANTILE PRIVATE LIMITED	Director	21/02/2013	10/05/2011	-	Active	NO
7	U52190WB2010PTC148511	GOLDSTAR DEALTRADE PRIVATE LIMITED	Director	21/02/2013	11/05/2011	-	Active	NO
8	U65923WB2012PTC180298	IGNIVA FINANCE PRIVATE LIMITED	Director	13/04/2012	13/04/2012	-	Active	NO

Name :

Mr. Nishant Garodia

Designation :

Director

Address :

FE-384, Sector - III, Salt Lake City, Kolkata – 700 106, West Bengal, India

Date of Birth/Age :

06.08.1975

Date of Appointment :

31.03.2010

PAN No.:

ADQPG4997H

DIN No.:

01981888

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	U31102WB1987PTC041799	IAC ELECTRICALS PRIVATE LIMITED	Director	31/03/2010	30/06/2007	-	Active	NO
2	U51909WB2006PTC112219	ENDEAVOUR VYAPAAR PRIVATE LIMITED	Director	03/08/2009	03/08/2009	-	Active	NO
3	U52100WB2010PTC149612	GOLDENGATE DISTRIBUTORS PRIVATE LIMITED	Director	21/02/2013	11/05/2011	-	Active	NO
4	U65900WB2012PTC180301	CACHET FINANCE PRIVATE LIMITED	Director	13/04/2012	13/04/2012	-	Active	NO

Name :

Mr. Adarsh Garodia

Designation :

Director

Address :

9A, Ananda Building, 116, Southern Avenue, Kolkata – 700 029, West Bengal, India

Date of Birth/Age :

06.10.1976

Date of Appointment :

31.03.2010

PAN No.:

ADCPG2521P

DIN No.:

01917780

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	U31900WB2008PTC125846	TLP ELECTRICALS PRIVATE LIMITED	Director	19/05/2008	19/05/2008	01/04/2010	Active	NO
2	U31102WB1987PTC041799	IAC ELECTRICALS PRIVATE LIMITED	Director	31/03/2010	31/03/2010	-	Active	NO
3	U52190WB2010PTC148511	GOLDSTAR DEALTRADE PRIVATE LIMITED	Director	11/05/2011	11/05/2011	-	Active	NO
4	U65923WB2012PTC180298	IGNIVA FINANCE PRIVATE LIMITED	Director	13/04/2012	13/04/2012	-	Active	NO
5	L15491WB1997PLC082808	DHUNSERI INVESTMENTS LIMITED	Additional director	13/08/2012	13/08/2012	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 28.09.2012

Names of Shareholders	No. of Shares	Percentage of Holding
Man Mohan Garodia	8821	3.93
Brij Mohan Garodia	10622	4.74
Nishant Garodia	13771	6.14
Adarsh Garodia	7072	3.15
Man Mohan Garodia and Sons HUF	2010	0.90
Brij Mohan Garodia and Sons HUF	4728	2.11
Bimala Garodia	7797	3.48
Neera Garodia	16175	7.21
Ashish Garodia	8091	3.61
Tani Garodia	2400	1.07
Meenakshi Garodia	3400	1.52
Endeavour Vyapaar Private Limited, India	84502	37.70
Rebati Agencies Private Limited, India	54800	24.44
Total	224189	100.00

As on 28.09.2012

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	62.00
Directors or relatives of directors	38.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing and Exporting of Power Transmission Line Hardware and Accessories.

Products :

PRODUCT DESCRIPTION	Overhead Transmission Line Fittings
(As per Monetary Terms)	Item Code No. (ITC Code)
Articles Predominantly of Iron and Steel	732690.19
Articles Predominantly of Aluminium	761610.00
Articles Predominantly of Copper	741999.09
Machines and Mechanical Appliances	847990.09
Scrap of Iron and Steel	720429.09
Scrap of Aluminium	760200.00
Scrap of Copper	740440.01

Exports :

Products :

Finished Goods

Countries :

Nepal

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

PRODUCTION STATUS (AS ON 31.03.2011)

Particulars	Unit	2010-11
Licensed Capacity		NA
Installed Capacity		NA
Actual Production
Aluminium Tubular Bus Bar	Sets	10
Clamps and Connectors	Sets	5481
Conductor Accessories	Sets	148481
Die Sets and Spares	Sets	41
Flexible Copper Bond	Sets	11262
G. Wire/E. Wire Accessories	Sets	29166
Hardware Fittings	Sets	72791
Hydraulic Compressor	Sets	5
Vibration Damper	Sets	106936
Waste and Scrap of Aluminium	KG	33812.100
Waste and Scrap of Iron and Steel	KG	78908.590
Waste and Scrap of Zinc	KG	7727.000

GENERAL INFORMATION

Customers :

End Users

Domestic

· BC

· GET

· GPIL

· OPTCL

· AKDAS

· ABB

· Aster

· Bajaj

· BHEL

· Deepak Cables (India) Limited

· Damodar Valley Corporation

· Essar

· Fedders Lloyd Corporation Limited

· GET Power Private Limited

International

· BPC

· CEB

· Dhaka Electric Supply Company

· KETRACO

· HG Power Transmission

· Nepal Electricity Authority

· Powergrid of Bangladesh

· TNB Malaysia

· Zambia Electricity Supply Corporation Limited

No. of Employees :

200 (Approximately)

Bankers :

• State Bank of Bikaner and Jaipur, Park Street Branch, 20B, Park Street, Kolkata – 700 016, West Bengal, India
• HDFC Bank Limited, Central Plaza, 2/6, Sarat Bose Road, Kolkata – 700 020, West Bengal, India
• ICICI Bank Limited, Landmark Race Course Circle, Alkapuri, Vadodara – 390 015, Gujarat, India

Facilities :

Secured Loans	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
LONG TERM BORROWINGS
Other loans and advances (Car Loan) Auto Loans from HDFC Bank (Secured By Hypothecation of Motor Cars purchased from the loan advanced)	0.348	0.743
SHORT TERM BORROWINGS
Working Capital Borrowings from Banks From State Bank of Bikaner and Jaipur	14.717	0.000
Total	15.065	0.743

Notes:

LONG TERM BORROWINGS

Rate of Interest on Car Loan ranges between 10.50 - 10.75%

Maturity Profile between 1-2 years is Rs.0.348 million

SHORT TERM BORROWINGS

Working Capital loans are primarily secured by hypothecation of entire current assets of the company including raw materials, stock-in-process, finished goods, consumable stores and spares and book debts etc. Collateral security has been provided on entire fixed assets of the company, both present and future. Personal Guarantee has also been provided of all the directors.

Banking Relations :	--
Auditors :
Name :	O.P. Harlalka and Company Chartered Accountants
Address :	12, B.B.D. Bag (East), Kolkata – 700 001, West Bengal, India
Tel. No.:	91-33-22306805
Fax No.:	91-33-22300808
E-Mail :	ophc@rediffmail.com
Website :	www.ophc.co.in
Income-tax PAN of auditor or auditor's firm :	AAAFO5385J
Enterprises over which KMP/KMP's relatives have significant influence :	Rebati Agencies Private Limited Endeavour Vypaar Private Limited Techno Mercantile Private Limited

CAPITAL STRUCTURE

As on 28.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
250000	Equity Shares	Rs.100/- each	Rs.25.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
224189	Equity Shares	Rs.100/- each	Rs.22.419 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1) Shareholders' Funds
(a) Share Capital	22.419	22.419
(b) Reserves & Surplus	202.029	157.320
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	224.448	179.739
(3) Non-Current Liabilities
(a) Long-term borrowings	79.919	41.790
(b) Deferred tax liabilities (Net)	2.994	2.768
(c) Other long term liabilities	0.000	0.000
(d) Long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	82.913	44.558
(4) Current Liabilities
(a) Short term borrowings	14.717	0.000
(b) Trade payables	98.752	51.851
(c) Other current liabilities	85.059	33.089
(d) Short-term provisions	0.397	0.243
Total Current Liabilities (4)	198.925	85.183
TOTAL	506.286	309.480
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	61.704	44.659
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	9.969
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	1.087	1.087
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.248	1.299
(e) Other Non-current assets	2.117	1.224
Total Non-Current Assets	65.156	58.238
(2) Current assets
(a) Current investments	0.158	0.121
(b) Inventories	166.773	80.577
(c) Trade receivables	248.695	146.664
(d) Cash and cash equivalents	4.094	7.356
(e) Short-term loans and advances	21.410	16.496
(f) Other current assets	0.000	0.028
Total Current Assets	441.130	251.242
TOTAL	506.286	309.480

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		22.419
2] Share Application Money		0.000
3] Reserves & Surplus		126.714
4] (Accumulated Losses)		0.000
NETWORTH		149.133
LOAN FUNDS
1] Secured Loans		0.000
2] Unsecured Loans		0.000
TOTAL BORROWING		0.000
DEFERRED TAX LIABILITIES		0.004
TOTAL		149.137
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		10.787
Capital work-in-progress		31.382
INVESTMENT		11.572
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	45.128
	Sundry Debtors	78.752
	Cash & Bank Balances	3.296
	Other Current Assets	44.700
	Loans & Advances	3.948
Total Current Assets		175.824
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	34.397
	Other Current Liabilities	13.552
	Provisions	32.523
Total Current Liabilities		80.472
Net Current Assets		95.352
MISCELLANEOUS EXPENSES		0.044
TOTAL		149.137

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Revenue from Operations	952.311	550.837	358.072
		Other Income	NA	16.889	2.493
		Closing Stock	NA		39.250
		TOTAL (A)	NA	567.726	399.815
Less	EXPENSES
		Opening Stock	NA	513.983	7.121
		Raw Mateirals Consumed			250.511
		Wages			0.903
		Other Manufacturing Expenses			19.751
		Administrative & Selling Expenses			44.761
		Provision for Bonus			0.565
		Excise Duty, Sales Tax etc.			41.960
		TOTAL (B)	NA	513.983	365.572
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		87.392	53.743	34.243
Less	INTEREST (D)		14.252	2.590	0.614
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		73.140	51.153	33.629
Less/ Add	DEPRECIATION/ AMORTISATION (F)		6.964	4.685	1.568
	PROFIT BEFORE TAX (E-F) (G)		66.176	46.468	32.061
Less	TAX (H)		21.467	15.862	10.993
	PROFIT AFTER TAX (G-H) (I)		44.709	30.606	21.068
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		127.427	96.821	75.753
	BALANCE CARRIED TO THE B/S		172.136	127.427	96.821
	EARNINGS IN FOREIGN CURRENCY		3.453	0.471	NA
	IMPORTS
		Capital Goods	1.122	NA	NA
	TOTAL IMPORTS		1.122	NA	NA
	Earnings Per Share (Rs.)		199.43	137.00	94.00

Particulars	31.03.2013
Sales Turnover (Approximately)	1060.000

The above information has been parted by Mr. Abhishek (Account/ Finance Department).

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	NA	5.39	5.27
Net Profit Margin (PBT/Sales)	(%)	6.95	8.44	8.95
Return on Total Assets (PBT/Total Assets}	(%)	13.10	15.58	17.18
Return on Investment (ROI) (PBT/Networth)		0.29	0.26	0.21
Debt Equity Ratio (Total Debt/Networth)		0.42	0.23	0.00
Current Ratio (Current Asset/Current Liability)		2.22	2.95	2.18

LOCAL AGENCY FURTHER INFORMATION

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	Yes
9) Name of person contacted	Yes
10) Designation of contact person	Yes
11) Turnover of firm for last four 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	Yes
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	Yes
30) Major Shareholders, if available	Yes
31) Date of Birth of Proprietor/Partner/Director, if available	Yes
32) PAN of Proprietor/Partner/Director, if available	Yes
33) Voter ID No of Proprietor/Partner/Director, if available	No
34) External Agency Rating, if available	Yes

Unsecured Loans	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
LONG TERM BORROWINGS
Loans and advances from related parties	79.571	41.047
Total	79.571	41.047

REVIEW OF OPERATIONS:-

The Company's operations in 2011-12 comprised manufacturing and sale of Power Transmission Line Hardware and Accessories. During the year, the company's revenue from operations is Rs.952.311 millions as against Rs.550.837 millions of previous year and profit before tax of Rs.66.176 millions as against Rs.46.468 millions of previous year. Hence, both the Revenue from operations as well as Profitability of the company has increased over last year and the management is looking forward to improve it further in future years.

Bankers Charges Report as per Registry

Corporate identity number of the company	U31102WB1987PTC041799
Name of the company	IAC ELECTRICALS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	701, Central Plaza, 2/6, Sarat Bose Road, Kolkata – 700 020, West Bengal, India E-Mail: info@iacelectricals.com
This form is for	Modification of charge
Charge identification number of the modified	10295129
Type of charge	Immovable Property Book Debts Movable Property (not being pledge) Floating Charge
Particular of charge holder	State Bank of Bikaner and Jaipur, Park Street Branch, 20B, Park Street, Kolkata – 700 016, West Bengal, India E-Mail: sbbj10604@sbbj.co.in
Nature of description of the instrument creating or modifying the charge	Agreement of Loan for Overall Limit Agreement of Hypothecation of Goods and Assets Deed of Guarantee for Overall Limit
Date of instrument Creating the charge	29.09.2012
Amount secured by the charge	Rs.150.000 millions
Brief particulars of the principal terms a conditions and extent and operation of the charge	Rate of Interest: For Cash Credit 3% above base rate (floating) (13.50% p.a. at present), Export Packing Credit 12.25% p.a. (subject to change), FBP/IBD 1.75% above base rate (floating) (12.25% p.a. at present) Terms of Repayment: The Borrowing will be repaid on Demand. The Loan is for Working Capital only which is repayable on demand according to banking norms. Margin: Raw Materials - 25% Stock in Process - 30% Finished Goods - 25% Book Debts (upto 90 days old) - 50% Bank Guarantee - 10% (100% in case of disputed liabilities) Extent and Operation of the charge: Primary - Exclusive first charge by hypothecation of entire assets of company including stocks of raw materials, SIP, finished goods, stores and spares lying at the factory and other stock points, book debts etc. Collateral - Exclusive first charge on entire fixed assets of the company, both present and future, including land and buildings situated at i) Plot No 53, Sankrail Industrial Park, NH-6, Jaladulagori, Andul Mouri, Sankrail-711302 and ii) 27/A, Bamacharan Roy Road, Behala, Kolkata-700034 Others: FBP/IBD facility additionally secured by Complete set of clean on board Bills of Lading / Airways Bills issued by shipping companies / airlines of their accredited agents, evidencing dispatch / shipment of goods together with relative invoice and other such related documents as required under LCs/orders.
Short particulars of the property charged	1. No.27/A, Bamacharan Roy Road, PO&PS-Behala, Kolkata-34, Near Union Drug within Municipal Limit of Wd No.116, Mouza Punja Sahapur, JL No.9, Touzi No.93, RS No.180, Dag No.854 and 855, Kh. Nos.1025 and 1024, Dist-24 Pgs(S). 1/3rd of Free hold land of area 15 cotts and 2 storied RCC framed Structured factory Building. Reg. Deed of conveyance Vide No.5913 and 10786 of 2010,at ARA-1, Kol. and recorded in BkNo.1, CD Vol.No.15 and Pgs.2144-2164 1/3rd of Free hold land of area 15 cotts and 2 storied RCC framed Structured factory Building. Reg. Deed of conveyance Vide No.5914 and 10786 of 2010, at ARA-1, Kol. and recorded in BkNo.1,CD Vol.No.15 and Pgs.2165-2184 Plot No.53, Sankrail Industrial Park, NH-6, Jaladhulagori, Andul Mouri, PS Sankrail, Opposite-Old ITC godown within Kanduah Gram Panchayat and Dhulagori Gram Panchayat, Mouza Jaladhulagori and Bhagabatipur, JL No.2 and 7. Old Dag Nos.453, 1458, 1457, 1459, 1462, 2069, 451, 1463, 1470 and 454 District-Howrah Regs. Deed of sale Vide No.1108 of 2004, at ADSR Ranihati and recorded in BK No.1, Vol.No.21, Pages 154-164 of land area 49 Satak. Old Dag Nos 453, 1458, 1457, 1459, 1462, 2069, 451, 1463, 1470 and 454 District-Howrah Regs. Deed of sale Vide No.1105 of 2004, at ADSR Ranihati and recorded in BK No.1, Vol.No.21, Pages 119-133 of land area 97.66 Satak. Old Dag Nos 453, 1458, 1457, 1459, 1462, 2069, 451, 1463, 1470 and 454 District-Howrah Regs. Deed of sale Vide No.1097 of 2004, at ADSR Ranihati and recorded in BK No.1, Vol.No.21, Pages 47-55 of land area 21 Satak. Old Dag Nos.453, 1458, 1457, 1459, 1462, 2069, 451, 1463, 1470 and 454 District-Howrah Regs. Deed of sale Vide No.3060 of 2005, at ADSR Ranihati and recorded in BK No.1, Vol.No.21, Pages 76-84 of land area 83.17 Satak. All present and future stocks, raw materials, goods, book debts and all other movable assets of the Borrower(s) including receivables, documents of title to goods, outstanding monies, bills. Invoices documents contracts, insurance policies, guarantees, engagements, securities, investment and rights and the present plant and machinery and future machinery by way of first charge.
Particulars of the present modification	Limits enhanced as follows: Cash Credit - Rs.80.000 millions (Old limit Rs.40.000 millions) Inland Bills / Foreign Bills (DA/DP) - Nil (Old limit Rs.10.000 millions) EPC within CC - Rs.20.000 millions (Old limit Rs.15.000 millions) Total Fund Based Limits - Rs.80.000 millions (Old limit Rs.50.000 millions) Bank Guarantee - Rs.70.000 millions (Old limit Rs.20.000 millions) Total Non Fund Based Limits - Rs.70.000 millions (Old limit Rs.20.000 millions) Total Limits - Rs.150.000 millions (Old limits Rs.70.000 millions)

FIXED ASSETS:

· Freehold Land

· Building

· Plant and Equipment

· Furniture and Fixtures

· Vehicles

· Office Equipment

· Computers

· Electrical Fittings

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.60.13
UK Pound	1	Rs.89.52
Euro	1	Rs.76.89

INFORMATION DETAILS

Report Prepared by :

SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		46

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.