MIRA INFORM REPORT

Report Date :

01.06.2013

IDENTIFICATION DETAILS

Name :	IHSEDU AGROCHEM PRIVATE LIMITED
Registered Office :	Akhandanand, 38, Marol Co-Operative Industrial Estate, Off. M. V. Road, Andheri (East), Mumbai – 400059, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	04.02.2000
Com. Reg. No.:	11-124048
Capital Investment / Paid-up Capital :	Rs. 55.000 Millions
CIN No.: [Company Identification No.]	U11200MH2000PTC124048
PAN No.: [Permanent Account No.]	AAACI7321K
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Castor Oil and ITS Products.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (49)

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

Maximum Credit Limit :	USD 190000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a subsidiary of Jayant Agro Organics Limited. It is an established company having satisfactory track record. There appears an increase in sales turnover as well as the net profitability during 2012. Trade relations are fair. Business is active. Payment terms are reported as slow but correct. The company can be considered normal for business dealings at usual trade terms and conditions.

NOTES :

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

ECGC Country Risk Classification List – June 30, 2012

Country Name	Previous Rating (31.03.2012)	Current Rating (30.06.2012)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long term rating: BBB
Rating Explanation	Moderate degree of safety and moderate credit risk
Date	11.10.2012

Rating Agency Name	CRISIL
Rating	Short term rating: A3+
Rating Explanation	Moderate degree of safety and higher credit risk.
Date	11.10.2012

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/ Corporate Office : :	Akhandanand, 38, Marol Co-Operative Industrial Estate, Off. M. V. Road, Andheri (East), Mumbai – 400059, Maharashtra, India
Tel. No.:	91-22-40271300
Fax No.:	91-22-40271399
E-Mail :	jaol@vsnl.net info@jayantagro.com sales@jayantagro.com
Website :	www.jaytagro.com
Factory :	Plot No.667, State Highway No.41, Jagana, Palanpur, District Banaskantha-385011, Gujarat, India
Tel. No.:	91-2742-252658
Fax No.:	91-2742-257158

DIRECTORS

As on 24.09.2012

Name :

Mr. Vithaldas Gokuldas Udeshi

Designation :

Whole Time Director

Address :

13, AB Sett Minar, 16, A Peddar Road, Mumbai-400026, Maharashtra, India

Date of Birth/Age :

20.04.1931

Date of Appointment :

01.07.2010

DIN No.:

00529122

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	L24100MH1992PLC066691	JAYANT AGRO-ORGANICS LIMITED	Director	07-05-92	07-05-92	15-04-13	Active	NO
2	U99999MH1992PLC066277	JAYANT FINVEST LIMITED	Director	07-05-92	07-05-92	-	Active	NO
3	U51909MH1994PLC076650	GOKULMANI AGRICOM LIMITED	Director	17-02-94	17-02-94	-	Active	NO
4	U11200MH2000PTC124048	IHSEDUAGROCHEM PRIVATE LIMITED	Whole-time director	01-07-10	01-07-02	-	Active	NO
5	U99999MH1938GAP002843	THE BOMBAY COMMODITY EXCHANGE LIMITED	Director	29-09-05	29-09-05	02-02-08	Active	NO
6	U24117MH2006PTC164412	IHSEDU SPECIALITY CHEMICALS PRIVATE LIMITED	Director	08-09-06	08-09-06	-	Amalgamated	NO
7	U24100MH2010PTC204838	IHSEDU ITOH GREEN CHEMICALS MARKETING PRIVATE LIMITED	Director	24-09-12	01-09-11	-	Active	NO

Name :

Mr. Dilipsinh Gokuldas Udeshi

Designation :

Whole Time Directors

Address :

43-Mount Unique, 62 A, Peddar Road, Mumbai-400026, Maharashtra, India

Date of Birth/Age :

02.12.1938

Date of Appointment :

01.07.2002

DIN No.:

00355776

Name :

Mr. Mulraj Gokuldas Udeshi

Designation :

Whole Time Director

Address :

11, Lalabaug Society, Manjalpur, Baroda-390011, Gujarat, India

Date of Birth/Age :

10.11.1933

Date of Appointment :

01.07.2010

DIN No.:

00355925

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	U11200MH2000PTC124048	IHSEDUAGROCHEM PRIVATE LIMITED	Whole-time director	01-07-10	01-07-02	-	Active	NO

Name :

Mr. Jayraj Gokuldas Udeshi

Designation :

Whole Time Director

Address :

502, Godavari, 5^th Floor, Worli Sagar Cooperative Housing Limited, Sir Pochkhanwala Road, Mumbai-400025, Maharashtra, India

Date of Birth/Age :

13.09.1940

Date of Appointment :

01.11.2009

DIN No.:

00529205

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	U24299GJ1970PLC001749	ENLITE CHEMICAL INDUSTRIES LIMITED	Director	01-04-02	01-04-02	-	Active	NO
2	U51909MH1994PLC076650	GOKULMANI AGRICOM LIMITED	Director	01-04-02	01-04-02	26-02-09	Active	NO
3	U99999MH1992PLC066277	JAYANT FINVEST LIMITED	Director	01-11-09	01-04-02	-	Active	NO
4	U11200MH2000PTC124048	IHSEDUAGROCHEM PRIVATE LIMITED	Whole-time director	01-11-09	01-07-02	-	Active	NO

Name :

Mr. Bharat Mulraj Udeshi

Designation :

Whole Time Director

Address :

11, Lalabaug Society, Manjalpur, Baroda-390011, Gujarat, India

Date of Birth/Age :

16.09.1964

Date of Appointment :

01.07.2010

DIN No.:

00355984

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	U11200MH2000PTC124048	IHSEDUAGROCHEM PRIVATE LIMITED	Whole-time director	01-07-10	01-07-02	-	Active	NO
2	U65990MH1985PTC037111	VARUN LEASING AND FINANCE PVT LTD	Director	18-03-03	18-03-03	-	Active	NO
3	U30007MH1985PTC037403	INNOVATIVE MICRO SYSTEMS PRIVATE LIMITED	Director	18-03-03	18-03-03	-	Active	NO

Name :

Mr. Mukesh Chandrakant Khagram

Designation :

Director

Address :

11, Swadhin Sadan, C Road, Churchgate, Mumbai - 400 020, Maharashtra, India

Date of Birth/Age :

24.11.1959

Date of Appointment :

26.09.2011

DIN No.:

00437042

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	U31300MH1979PTC021143	EVERGREEN WIRECLOTH FACTORY PRIVATE LIMITED	Director	30-10-90	30-10-90	-	Active	NO
2	U74999MH1990PTC057906	EVERGREEN SEPARATECH PRIVATE LIMITED	Director	30-10-90	30-10-90	-	Active	NO
3	U32109MH1972PTC015773	EVERGREEN TECHNOLOGIES PRIVATE LIMITED	Director	31-10-90	31-10-90	-	Active	NO
4	L24100MH1992PLC066691	JAYANT AGRO-ORGANICS LIMITED	Director	27-10-05	27-10-05	-	Active	NO
5	U11200MH2000PTC124048	IHSEDUAGROCHEM PRIVATE LIMITED	Director	26-09-11	19-09-10	-	Active	NO

Name :

Mr. Abhay Vithaldas Udeshi

Designation :

Director

Address :

13, AB Sett Minar, 16-A, Peddar Road, Mumbai - 400026, Maharashtra, India

Date of Birth/Age :

18.06.1960

Date of Appointment :

26.09.2011

DIN No.:

00355598

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	U65990MH1985PTC037111	VARUN LEASING AND FINANCE PVT LTD	Director	09-08-85	09-08-85	-	Active	NO
2	U24299GJ1970PLC001749	ENLITE CHEMICAL INDUSTRIES LIMITED	Director	01-06-02	01-06-02	-	Active	NO
3	L24100MH1992PLC066691	JAYANT AGRO-ORGANICS LIMITED	Whole-time director	01-06-10	01-06-02	-	Active	NO
4	U24117MH2006PTC164412	IHSEDU SPECIALITY CHEMICALS PRIVATE LIMITED	Director	18-06-08	06-12-07	-	Amalgamated	NO
5	U01407MH2008PTC185147	IHSEDU COREAGRI SERVICES PRIVATE LIMITED	Director	28-07-08	28-07-08	-	Active	NO
6	U51900MH2008PTC187068	KALYAN IMPEX PRIVATE LIMITED	Director	30-09-10	19-05-10	-	Active	NO
7	U24100MH2010PTC204838	IHSEDU ITOH GREEN CHEMICALS MARKETING PRIVATE LIMITED	Director	25-06-10	25-06-10	-	Active	NO
8	U11200MH2000PTC124048	IHSEDUAGROCHEM PRIVATE LIMITED	Director	26-09-11	17-12-10	-	Active	NO

Name :

Mr. Sudhir Vijaysinh Udeshi

Designation :

Director

Address :

Flat No.1201,12^th Floor, Hicon Classic I, Ambedkar Road, Opposite Beam Hospital, Khar (West), Mumbai - 400052, Maharashtra, India

Date of Birth/Age :

13.10.1951

Date of Appointment :

26.09.2011

DIN No.:

00355542

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	U65990MH1985PTC037111	VARUN LEASING AND FINANCE PVT LTD	Director	09-08-85	09-08-85	-	Active	NO
2	U51909MH1994PLC076650	GOKULMANI AGRICOM LIMITED	Director	01-04-02	01-04-02	-	Active	NO
3	U24299GJ1970PLC001749	ENLITE CHEMICAL INDUSTRIES LIMITED	Director	01-04-02	01-04-02	-	Active	NO
4	L24100MH1992PLC066691	JAYANT AGRO-ORGANICS LIMITED	Whole-time director	01-06-02	01-06-02	31-03-09	Active	NO
5	U24117MH2006PTC164412	IHSEDU SPECIALITY CHEMICALS PRIVATE LIMITED	Whole-time director	01-04-12	06-12-07	-	Amalgamated	NO
6	U11200MH2000PTC124048	IHSEDUAGROCHEM PRIVATE LIMITED	Director	26-09-11	17-12-10	-	Active	NO

Name :

Mr. Vikram Vijaysinh Udeshi

Designation :

Director

Address :

Flat No.1101, 11^th Floor, Hicon Classic I, Ambedkar Road, Opposite Beam Hospital, Khar (West), Mumbai - 400052, Maharashtra, India

Date of Birth/Age :

04.07.1967

Date of Appointment :

26.09.2011

DIN No.:

00355713

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	U99999MH1992PLC066277	JAYANT FINVEST LIMITED	Director	01-12-10	01-08-98	-	Active	NO
2	U67120MH1977PTC019582	GOKULDAS K.UDESHI INVESTMENTS PRIVATE LIMITED	Director	14-03-03	14-03-03	-	Active	NO
3	U24117MH2006PTC164412	IHSEDU SPECIALITY CHEMICALS PRIVATE LIMITED	Director	08-09-06	08-09-06	-	Amalgamated	NO
4	U01407MH2008PTC185147	IHSEDU COREAGRI SERVICES PRIVATE LIMITED	Director	28-07-08	28-07-08	-	Active	NO
5	U51900MH2008PTC187068	KALYAN IMPEX PRIVATE LIMITED	Director	30-09-10	19-05-10	-	Active	NO
6	U11200MH2000PTC124048	IHSEDUAGROCHEM PRIVATE LIMITED	Director	26-09-11	17-12-10	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 24.09.2012

Names of Shareholders	No. of Shares
Jayant Agro Organics Limited, India Jointly Vithaldas G Udeshi	100
Jayant Agro Organics Limited, India Jointly Jayraj G Udeshi	100
Jayant Agro Organics Limited, India Jointly Hemant V Udeshi	100
Jayant Agro Organics Limited, India Jointly Sudhir V Udeshi	100
Jayant Agro Organics Limited, India Jointly Abhay V Udeshi	100
Jayant Agro Organics Limited, India Jointly Dr Subhash V Udeshi	100
Jayant Agro Organics Limited, India	5499400
Total	5500000

As on 24.09.2012

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	99.99
Directors or relatives of Directors	0.01
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Castor Oil and ITS Products.

Products :

ITC Code No.	Product Description
15153090	Castor Oil and Caster Seed

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Central Bank of India, Corporate Finance Branch, 1^st Floor, MMO Building, M. G. Road, Fort, Mumbai-400023, Maharashtra, India

Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227,D, Nariman Point, Mumbai-400021, Maharashtra, India

Facilities :

Secured Loan	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. in Millions)
Term loans from banks	214.386	132.202
Rupee term loans from others	242.311	68.064
Total	456.697	200.266

Banking Relations :	--
Auditors :
Name :	T. P. Ostwal and Associates Chartered Accountant
Address :	Bharat House, 4^th Floor, 104, Mumbai Samachar Marg, Mumbai-400001, Maharashtra, India
Tel. No.:	91-22-40693900
Fax No.:	91-22-40693999
E-Mail :	fca@vsnl.com
PAN No.:	AAEFT8386J
Holding company :	Jayant Agro-Organics Limited CIN No.: L24100MH1992PLC066691
Ultimate Holding company :	Jayant Finvest Limited CIN No.: U99999MH1992PLC066277
Fellow Subsidiary :	· Ihsedu Coreagri Services Private Limited CIN No.: U01407MH2008PTC185147 Ihsedu Speciality Chemicals Private Limited CIN No.: U24117MH2006PTC164412 Ihsedu Itoh Green Chemicals Marketing Private Limited CIN No.: U24100MH2010PTC204838
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	Enlite Chemical Industries Limited CIN No.: U24299GJ1970PLC001749

CAPITAL STRUCTURE

As on 24.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs.10/- each	Rs.100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5500000	Equity Shares	Rs.10/- each	Rs.55.000 Millions

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
6000000	Equity Shares	Rs.10/- each	Rs.60.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5500000	Equity Shares	Rs.10/- each	Rs.55.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2012	31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		55.000	55.000	55.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		286.795	210.503	36.287
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		341.795	265.503	91.287
LOAN FUNDS
1] Secured Loans		456.697	200.266	135.541
2] Unsecured Loans		11.500	28.320	0.000
TOTAL BORROWING		468.197	228.586	135.541
DEFERRED TAX LIABILITIES		75.762	58.504	39.178
TOTAL		885.754	552.593	266.006
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		607.633	513.276	471.527
Capital work-in-progress		28.407	117.570	121.404
Expenditure pending allocation		0.000	0.000	7.900
INVESTMENT		0.011	0.011	0.011
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	299.773	217.033	0.000
	Sundry Debtors	471.724	31.059	10.599
	Cash & Bank Balances	8.961	50.275	1.425
	Other Current Assets	15.028	11.941	0.000
	Loans & Advances	67.347	44.058	60.730
Total Current Assets		862.833	354.366	72.754
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	374.015	171.820	68.367
	Other Current Liabilities	204.839	240.707	306.333
	Provisions	34.276	20.103	32.890
Total Current Liabilities		613.130	432.630	407.590
Net Current Assets		249.703	(78.264)	(334.836)
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		885.754	552.593	266.006

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income			1193.571
		Other Income			0.417
		TOTAL (A)	9195.012	2987.123	1193.988
Less	EXPENSES
		Consumption of Raw Materials			834.287
		Purchases of Finished Goods			34.386
		Increase / (Decrease) in Stock			(14.303)
		Personal Cost			24.961
		Manufacturing Expenses and Other Expenses			201.186
		Interest on Bank Term Loan			0.000
		TOTAL (B)	8960.290	2849.744	1080.517
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		234.722	137.379	113.471
Less	FINANCIAL EXPENSES (D)		53.221	16.539	13.793
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		181.501	120.840	99.678
Less/ Add	DEPRECIATION/ AMORTISATION (F)		32.925	27.209	23.194
Less	Exceptional Item		1.597	(0.009)	0.000
	PROFIT BEFORE TAX (E-F) (G)		146.979	93.640	76.484
Less	TAX (I)		54.973	23.911	29.739
	PROFIT AFTER TAX (G-I) (J)		92.006	69.729	46.745
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		210.497	143.975	100.447
Less	APPROPRIATIONS
		Corporate Dividend Tax on Proposed Dividend	2.230	0.457	0.467
		Proposed Dividend	13.750	2.750	2.750
		Transferred to General Reserve	9.500	0.000	0.000
	BALANCE CARRIED TO THE B/S				143.975
	EARNINGS IN FOREIGN CURRENCY		NA	NA	220.975
	Earnings Per Share (Rs.)		16.73	12.68	8.50

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	1.00	2.33	3.92
Net Profit Margin (PBT/Sales)	(%)	NA	NA	6.41
Return on Total Assets (PBT/Total Assets}	(%)	10.00	10.79	14.05
Return on Investment (ROI) (PBT/Networth)		0.43	0.35	0.84
Debt Equity Ratio (Total Debt/Networth)		1.37	0.86	1.48
Current Ratio (Current Asset/Current Liability)		1.41	0.82	0.18

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	-----
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	-----
22]	Litigations that the firm / promoter involved in	-----
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	-----
26]	Buyer visit details	-----
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

EXPANSION:

The Company, during the year, has installed additional Plant and Machinery worth Rs.124.505 millions, and constructed Building valued at Rs.2.977 millions to expand its overall capacity.

UNSECURED LOAN

Particulars	31.03.2012 (Rs. in Millions)	31.03.2011 (Rs. In Millions)
Loans and advances from related parties	11.500	28.320
Total	11.500	28.320

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U11200MH2000PTC124048
Name of the company	IHSEDU AGROCHEM PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Akhandanand, 38, Marol Co-Operative Industrial Estate, Off. M. V. Road, Andheri (East), MUMBAI – 400059, Maharashtra, India E-mail: jaol@vsnl.net
This form is for	Creation of charge
Type of charge	Book debts Movable property (not being pledge)
Particular of charge holder	Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227,D, Nariman Point, Mumbai-400021, Maharashtra, India E-mail: vijendra.sapre@kotak.com
Nature of instrument creating charge	Deed of Hypothecation.
Date of instrument Creating the charge	16.01.2013
Amount secured by the charge	Rs. 300.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest As may be specified by the bank from time to time. Terms of Repayment As may be specified by the bank from time to time. Margin As may be specified by the bank from time to time. Extent and Operation of the charge First and exclusive charge by way of Hypothecation on present and future movable assets of the Borrower, in favour of Kotak Mahindra Bank as security for repayment of financial facilities granted by the Bank to the Borrower.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	The Whole of the Borrower's movable assets both present and future.

FIXED ASSETS

· Land

· Buildings

· Other building

· Plant and equipment

· Other plant and equipment

· Furniture and fixtures

· Vehicles

· Office equipment

· Computer equipments

· Other equipments

4

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.56.50
UK Pound	1	Rs.86.01
Euro	1	Rs.73.68

INFORMATION DETAILS

Report Prepared by :

MRI

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	5
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		49

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
NB		NEW BUSINESS

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.