MIRA INFORM REPORT

Report Date :

27.06.2013

IDENTIFICATION DETAILS

Name :	M SURESH COMPANY PRIVATE LIMITED
Registered Office :	419, Parekh Market, Opera House, Mumbai – 400004, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	03.12.2004
Com. Reg. No.:	11-149806
Capital Investment / Paid-up Capital :	Rs. 126.670 Millions
CIN No.: [Company Identification No.]	U36910MH2004PTC149806
Legal Form :	Private Limited Liability Company
Line of Business :	Trader of Cut and Polished Diamonds.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (36)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 7600000
Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Clear
Comments :	Subject is a part of “M SURESH GROUP “. It is a well established company having a moderate track record. The management has failed to file its financial for the year 2010-2011, 2011-2012 with the government department. The contacted person Mr. Rajesh Mehta, the finance manager has denied to disclose any information. As per the financial of 2010, the company performance seems to be good. Trade relations are reported to be fair. Business is active. Payments are unknown. The company can be considered for business dealings with some caution. Note: Crisil has given ‘A’ rating but the management has not file its financial since 2010 so we have down graded the rating.

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	A = Long Term Rating
Rating Explanation	Having adequate degree of safety regarding timely servicing of financial obligation. It carry low credit risk.
Date	May 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 DENIED BY

Name :	Mr. Rajesh Metha
Designation :	Finance Manager
Contact No.:	91-22-23697730/26756010
Date :	25.06.2013

LOCATIONS

Registered Office :	419, Parekh Market, Opera House, Mumbai – 400004, Maharashtra, India
Tel. No.:	91-22-23639001/23636244/23801411
Fax No.:	91-22-23696492/23690176/23875107
E-Mail :	manish@msureshco.com lalit@msureshco.com MPSHAHMS@GMAIL.COM
Website :	www.msureshco.com
Corporate Office :	BW- 6010, Bharat Diamond Bourse, Bandra Kurla Complex, Bandra East, Mumbai – 400051, Maharashtra, India
Tel. No.:	91-22-26756010 to 18
Fax No.:	91-22-23697721
E-Mail :	msuresh@msureshco.com

DIRECTORS

As on 30.09.2010

Name :

Mr. Paresh Rameshchandra Pethani

Designation :

Director

Address :

2-A, Swapnalok, L. J. Marg, Nepeansea Road, Mumbai-400036, Maharashtra, India

Date of Birth/Age :

07.11.1959

Date of Appointment :

02.12.2005

DIN No.:

00014079

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	U22120MH1989PTC054450	C I JEWELS PRIVATE LIMITED	Director	24/04/1998	24/04/1998	-	Amalgamated	NO
2	U65990MH2000PTC124973	SHREE GAURISHANKAR INVESTMENT PRIVATE LIMITED	Director	15/03/2000	15/03/2000	-	Amalgamated	NO
3	U36910MH2004PTC149806	M SURESH COMPANY PRIVATE LIMITED	Director	02/12/2005	02/12/2005	-	Active	NO
4	U45200MH2008PTC179272	AMARIS DIAMONDS & JEWELS PRIVATE LIMITED	Director	25/02/2008	25/02/2008	-	Active	NO
5	U45400MH2009PTC189625	DHAMAL PROPERTIES PRIVATE LIMITED	Director	17/01/2009	17/01/2009	-	Active	NO
6	U70102MH2009PTC189654	DHAMAL BUILDERS AND DEVELOPERS PRIVATE LIMITED	Director	17/01/2009	17/01/2009	-	Active	NO
7	U45200MH2008PTC182107	REFRESH BUILDCON PRIVATE LIMITED	Director	21/09/2010	01/02/2010	-	Active	NO

Name :

Mr. Lalit Chunilal Adani

Designation :

Director

Address :

3-B, Swapnalok, L. J. Marg, Nepeansea Road, Mumbai-400036, Maharashtra, India

Date of Birth/Age :

24.02.1958

Date of Appointment :

02.12.2005

DIN No.:

00014169

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	U51900MH1994PTC082345	NIYATI EXPORTS PRIVATE LIMITED	Director	25/10/1994	25/10/1994	-	Active	NO
2	U22120MH1989PTC054450	C I JEWELS PRIVATE LIMITED	Director	24/04/1998	24/04/1998	-	Amalgamated	NO
3	U36910MH1991PTC064190	M SURESH EXPORTS PRIVATE LIMITED	Director	03/09/1998	03/09/1998	-	Active	NO
4	U65990MH2000PTC124973	SHREE GAURISHANKAR INVESTMENT PRIVATE LIMITED	Director	15/03/2000	15/03/2000	-	Amalgamated	NO
5	U65920MH1994PTC080302	M.SURESH JEWELLERY PRIVATE LIMITED	Director	13/02/2003	13/02/2003	-	Amalgamated	NO
6	U36912MH1995PTC094662	APEX DIAMOND EXPORTS PRIVATE LIMITED	Director	21/03/2003	21/03/2003	-	Amalgamated	NO
7	U36910MH2003PTC141086	ADORA JEWELS (INDIA) PRIVATE LIMITED	Director	27/06/2003	27/06/2003	-	Active	NO
8	U91110GJ2000NPL039065	GUJARAT HIRA BOURSE	Director	09/03/2004	09/03/2004	-	Active	NO
9	U45202PN2003PLC018435	CITY CORPORATION LIMITED	Director	02/06/2005	02/06/2005	-	Active	NO
10	U45209PN2005PTC021147	CITY REALTY AND DEVELOPMENT PRIVATE LIMITED	Director	17/08/2005	17/08/2005	17/06/2010	Active	NO
11	U36910MH2004PTC149806	M SURESH COMPANY PRIVATE LIMITED	Director	02/12/2005	02/12/2005	-	Active	NO
12	U34102PN2004PTC019806	SKYSCAPES HOTELS PRIVATE LIMITED	Director	21/06/2007	21/06/2007	17/06/2010	Active	NO

Name :

Mr. Manish Pethani

Designation :

Director

Address :

1901/02, Chandanbala Apartment, Ratilal Thakker Marg, Walkeshwar, Mumbai-400006, Maharashtra, India

Date of Birth/Age :

13.06.1966

Date of Appointment :

02.12.2005

DIN No.:

00014011

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	U51900MH1994PTC082345	NIYATI EXPORTS PRIVATE LIMITED	Director	25/10/1994	25/10/1994	-	Active	NO
2	U36910MH1991PTC064190	M SURESH EXPORTS PRIVATE LIMITED	Director	03/09/1998	03/09/1998	-	Active	NO
3	U65920MH1994PTC080302	M.SURESH JEWELLERY PRIVATE LIMITED	Director	13/02/2003	13/02/2003	-	Amalgamated	NO
4	U36912MH1995PTC094662	APEX DIAMOND EXPORTS PRIVATE LIMITED	Director	21/03/2003	21/03/2003	-	Amalgamated	NO
5	U36910MH2004PTC149806	M SURESH COMPANY PRIVATE LIMITED	Director	02/12/2005	02/12/2005	-	Active	NO
6	U22120MH1989PTC054450	C I JEWELS PRIVATE LIMITED	Director	20/03/2006	20/03/2006	-	Amalgamated	NO
7	U45400MH2009PTC189624	DHAMAL ESTATES PRIVATE LIMITED	Director	17/01/2009	17/01/2009	25/03/2010	Active	NO
8	U45400MH2009PTC189620	SHREE GAURISHANKAR DEVELOPERS PRIVATE LIMITED	Director	17/01/2009	17/01/2009	-	Active	NO
9	U45400MH2009PTC189625	DHAMAL PROPERTIES PRIVATE LIMITED	Director	17/01/2009	17/01/2009	-	Active	NO
10	U70102MH2009PTC189654	DHAMAL BUILDERS AND DEVELOPERS PRIVATE LIMITED	Director	17/01/2009	17/01/2009	-	Active	NO
11	U70100MH2005PTC157193	MAGNIFICENT ESTATE PRIVATE LIMITED	Additional director	12/03/2009	12/03/2009	16/06/2009	Active	NO
12	U51109MH2009PTC195422	SPOTTED TRADING PRIVATE LIMITED	Director	10/10/2009	10/10/2009	-	Active	NO
13	U51109MH2009PTC195421	MORAL MERCANTILE PRIVATE LIMITED	Director	10/10/2009	10/10/2009	-	Active	NO
14	U51109MH2009PTC195419	INSPIRATION MERCANTILE PRIVATE LIMITED	Director	10/10/2009	10/10/2009	-	Active	NO
15	U51909MH2009PTC194548	LUCRATIVE TRADING PRIVATE LIMITED	Director	10/10/2009	10/10/2009	-	Active	NO
16	U51109MH2009PTC194266	UPGRADE TRADING PRIVATE LIMITED	Director	06/01/2010	06/01/2010	-	Active	NO
17	U45200MH2008PTC182107	REFRESH BUILDCON PRIVATE LIMITED	Director	21/09/2010	01/02/2010	-	Active	NO
18	U72900MH1999PLC122294	E COMMERCE MAGNUM SOLUTION LIMITED	Additional director	01/10/2010	01/10/2010	-	Active	NO

Name :

Mr. Nitin Adani

Designation :

Director

Address :

804, Dharam Palace, Athvalines, Surat 395001, Gujarat, India

Date of Birth/Age :

23.10.1960

Date of Appointment :

02.12.2005

DIN No.:

00014359

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	U45201GJ2002PTC040524	RATNA TRAYI REALITY SERVICES PRIVATE LIMITED	Director	26/02/2004	26/02/2004	-	Active	NO
2	U36912MH1995PTC094662	APEX DIAMOND EXPORTS PRIVATE LIMITED	Director	14/11/2005	14/11/2005	-	Amalgamated	NO
3	U36910MH2004PTC149806	M SURESH COMPANY PRIVATE LIMITED	Director	02/12/2005	02/12/2005	-	Active	NO
4	U45201GJ2007PTC051508	NSP INFRASTRUCTURE PRIVATE LIMITED	Director	01/03/2008	01/03/2008	02/11/2010	Active	NO

MAJOR SHAREHOLDERS

As on 30.09.2010

Name of Equity Shareholders	No. of Shares
Lalit C. Adani	133500
Manish R. Pethani	125000
Paresh R. Pethani	116200
Mr. Vijay C. Adani	92800
Mr. Nitin C. Adani	92400
Mr. Suresh U. Pethani	1000
Mr. Ramesh U. Pethani	1800
M Suresh Jewellery Private Limited	177300
Twinklediam NV	60000
Total	800000

Name of Preference Shareholders	No. of Shares
Manish R. Pethani	63000
Paresh R. Pethani	55000
Mr. Vijay C. Adani	38600
Mr. Nitin C. Adani	79900
M Suresh Jewellery Private Limited	230200
Total	466700

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2010

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	7.50
Bodies corporate	22.16
Directors or relatives of Directors	70.34
Total	100.00

BUSINESS DETAILS

Line of Business :

Trader of Cut and Polished Diamonds.

Products :

Product Description	Item Code No. (ITC Code)
Cut and Polished Diamonds	710239.01

PRODUCTION STATUS (As on 31.03.2009)

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Polished Diamonds	Carats	NA	NA	107502
Rough Rejects	Carats	NA	NA	61624

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

State Bank of India, Diamond Branch, West Core Bharat Diamond Bourse, Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India

Facilities :

Particulars	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
Secured Loan	2095.389	1880.802
Total	2095.389	1880.802

Banking Relations :	--
Auditors :
Name :	Champaklal Shah and Company Chartered Accountants
Address :	1st Floor, Shahviri Buliding, Office No 2 and 3, 31-41, R S Sapre Road Kalbadevi, Mumbai – 400002, Maharashtra, India
PAN No.:	AAAFC1368D
Memberships :	Apex Diamond Exports Private Limited CIN No.: U36912MH1995PTC094662 C I Jewels Private Limited CIN No.: U22120MH1989PTC054450 M Suresh Company DMCC M Suresh Company (SA) PTY Limited

CAPITAL STRUCTURE

After 30.09.2012

Authorised Capital : Rs. 250.000 Millions

Issued, Subscribed & Paid-up Capital : Rs. 133.420 Millions

As on 30.09.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
1250000	Equity Shares	Rs. 100 /- each	Rs. 125.000 Millions
1250000	Preference Shares	Rs. 100 /- each	Rs. 125.000 Millions
			Rs. 250.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
800000	Equity Shares	Rs. 100 /- each	Rs. 80.000 Millions
466700	Preference Shares	Rs. 100 /- each	Rs. 46.670 Millions
			Rs. 126.670 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		126.670	150.000	150.000
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		1772.208	1910.818	1878.280
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		1898.878	2060.818	2028.280
LOAN FUNDS
1] Secured Loans		2095.389	1880.802	1970.556
2] Unsecured Loans		33.307	107.536	3.302
TOTAL BORROWING		2128.696	1988.338	1973.858
DEFERRED TAX LIABILITIES		6.108	5.287	5.346
TOTAL		4033.662	4054.443	4007.484
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		287.156	281.569	284.702
Capital work-in-progress		4.752	3.075	1.958
INVESTMENT		222.996	218.104	199.879
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	2828.384	2135.028	1799.155
	Sundry Debtors	1615.886	1674.306	1601.991
	Cash & Bank Balances	157.833	291.672	466.590
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	502.456	856.924	611.235
Total Current Assets		5104.559	4957.930	4478.971
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors		1388.115	940.737
	Other Current Liabilities		3.206	6.415
	Provisions		14.914	11.276
Total Current Liabilities		1585.781	1406.235	958.428
Net Current Assets		3518.778	3551.695	3520.543
MISCELLANEOUS EXPENSES		0.000	0.000	0.402
TOTAL		4033.682	4054.443	4007.484

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2009	31.03.2008
	TURNOVER AND OTHER INCOME			7311.346	NA
Less	EXPENSES			7257.500	NA
	PROFIT BEFORE TAX			53.846	192.451
Less	TAX			19.670	63.721
	PROFIT AFTER TAX			34.176	128.730
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD			305.280	188.188
Less	APPROPRIATIONS
		Proposed Dividend on Preference share		1.400	1.400
		Tax on Dividend		0.238	0.238
		Transfer to General Reserve		10.000	10.000
	BALANCE CARRIED TO THE B/S			327.818	305.280
	EARNINGS IN FOREIGN CURRENCY
			Export Earnings	6806.530	7741.300
			Business Initiative	2.009	3.191
	TOTAL EARNINGS			6808.539	7744.491
	TOTAL IMPORTS			6430.068	7061.568
	Earnings Per Share (Rs.)			40.67	158.86

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	NA	0.46	NA
Return on Total Assets (PBT/Total Assets}	(%)	NA	1.03	4.04
Return on Investment (ROI) (PBT/Networth)		NA	0.03	0.09
Debt Equity Ratio (Total Debt /Networth)		1.12	0.96	0.97
Current Ratio (Current Asset/Current Liability)		3.22	3.53	4.67

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 one years	Yes
12]	Profitability for last two years	Yes
13]	Reasons for variation <> 20%	--------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	----------
22]	Litigations that the firm / promoter involved in	----------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	----------
26]	Buyer visit details	---------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	No
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

DIAMOND INDUSTRY – INDIA

- From time immemorial, India is well known in the world as the birthplace for diamonds.  It is difficult to trace the origin of diamonds but history says that in the remote past, diamonds were mined only in India. Diamond production in India can be traced back to almost 8^th Century B.C.  India, in fact, remained undisputed leader till 18^th Century when Brazilian fields were discovered in 1725 followed by emergence of S. Africa, Russia and Australia.

- The achievement of the Indian diamond industry was possible only due to combination of the manufacturing skills of the Indian workforce and the untiring and unflagging efforts of the Indian diamantaires, supported by progressive Government policies.

- The area of study of family owned diamond businesses derives its importance from the huge conglomerate of family run organizations which operate in the diamond industry since many generations.

- Some of the basic traits of family run business enterprises include spirit of entrepreneurship; mutual trust lowers transaction costs, small, nimble and quick to react, information as a source of advantage and philanthropy.

- Family owned diamond businesses need to improve on many fronts including higher standard of corporate governance, long-term performance – focused strategies, modern management and technology.

- Utmost caution is to be exercised while dealing with some medium and large diamond traders which are usually engaged in fictitious import – export, inter-company transactions, financially assisted by banks. In the process, several public sector banks lost several hundred million rupees. They mostly diverted borrowed money for diamond business into real estate and capital markets.

- Excerpts from Times of India dated 30^th October 2010 is as under –

- Gem and Jewellery Export Promotion Council in its statistical data has shown the export of polished diamonds to have increase by 28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in February, 2012, India exported $ 1.84 billion worth of polished diamonds in February 2013. A senior executive of GJEPC said, “Export of cut and polished diamonds started falling month-wise after the imposition of 2 % of import duty on the polished diamonds. But February, 2013 has given a new ray of hope to the industry as the export of polished diamonds has actually increased by 28 %. It means the industry  is on the track of recovery and round tripping of diamonds has stopped completely.” Demand has started coming from the US, the UK, Japan and China. India’s polished diamond export is expected to cross $ 21 bn in 2013-14.

- The banking sector has started exercising restraint while following prudent risk management norms when lending money to gems and jewellery sector. This follows the implementation of Basel III accord – a global voluntary regulatory standard on bank capital adequacy, stress testing and market liquidity.

UNSECURED LOANS:

Particulars	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
Unsecured Loan	33.307	107.536
Total	33.307	107.536

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U36910MH2004PTC149806
Name of the company	M SURESH COMPANY PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	419, Parekh Market, Opera House, Mumbai – 400004, Maharashtra, India Email ID : MPSHAHMS@GMAIL.COM
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	80038346
Type of charge	Immovable property
Particular of charge holder	State Bank of India, Diamond Branch, West Core Bharat Diamond Bourse, Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India Email ID : kamalax_saraf@hotmail.com
Nature of instrument creating charge	Registered Deed of Mortgage Date 26.09.2012
Date of instrument Creating the charge	26.09.2012
Amount secured by the charge	Rs. 4070.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest As stipulated by the consortium banks in their sanction letter/s and as advised from time to time. Plus service charges as are applicable to the said facilities from time to time. Terms of Repayment As stipulated by the consortium banks in their sanction letter/s and as advised from time to time. Plus service charges as are applicable to the said facilities from time to time. Margin As stipulated by the consortium banks in their sanction letter/s and as advised from time to time. Plus service charges as are applicable to the said facilities from time to time. Extent and Operation of the charge As stipulated by the consortium banks in their sanction letter/s and as advised from time to time. Plus service charges as are applicable to the said facilities from time to time. Others N. A.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	All and singular the borrowers stocks of raw materials, semi finished and finished goods, stores and spares not relating to the plant and machinery (consumable store and spares), bills receivables, book debts and all other movables of the borrower (excluding such movables as are permitted by the said banks from time to time) but including documents of title to goods and other assets, such as outstanding moneys, receivables including receivables by way of cash assistance and/or cash, including under the cash incentive scheme or any other scheme, claims including claims by way of refund of customs/excise duties under the duty drawback credit scheme, or any other scheme, bills, invoices, documents, contracts, insurance policies, guarantees, engagements, securities, investments and rights both present and future whether now lying loose or in cases or which are now lying or stored in or about or shall hereinafter from time to time during the continuance of the security of these present be brought into or upon or be stored or be in or about of the borrowers factories, premises and godowns situated at Mumbai in the state of Maharashtra or wherever else the same may be or be held by any party to the order of disposition of the borrower or in the course of transit or on high seas or on order or delivery, howsoever and whosesoever in the possession of the borrower and either by way of substitution or addition.
Date of instrument modifying the charge	25.09.2012
Particulars of the present modification	Now by this modification date 26.09.2012 the company created an extension of charge by executing registered deed of mortgage over the immovable properties to secure the enhanced credit facilities of Rs. 4070.000 Millions Immovable properties.

FIXED ASSETS:

• Land
• Building
• Furniture and Fixture
• Plant and Machinery
• Office Equipments and Electric Fittings
• Vehicle
• Computers

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. 59.85
UK Pound	1	Rs. 92.31
Euro	1	Rs. 78.22

INFORMATION DETAILS

Information Gathered by :	SVA
Report Prepared by :	VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--CREDIT LINES	1~10	4
--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		36

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.