MIRA INFORM REPORT

Report Date :

22.05.2013

IDENTIFICATION DETAILS

Name :	KIRAN GLOBAL CHEMS LIMITED (w.e.f.24.03.2008)
Formerly Known As :	KIRAN PONDY CHEM LIMITED (w.e.f.06.04.2000) PONDY CHEM LIMITED
Registered Office :	R.S. No. 37, Nagore Road, T. R. Pattinam, District Karaikal, Pondicherry – 611002
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	09.04.2002
Com. Reg. No.:	59-000618
Capital Investment / Paid-up Capital :	Rs. 120.000 Millions
CIN No.: [Company Identification No.]	U24299PY2002PLC000618
TAN No.: [Tax Deduction & Collection Account No.]	CHEK06405A
PAN No.: [Permanent Account No.]	AABCK4882E
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Sodium Silicate, Sodium Meta Silicate, Potassium Silicate, etc.
No. of Employees :	Not Divulged

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 2270000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is a well established company having a satisfactory track record. Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered for normal 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	CARE
Rating	Long term Bank facilities : (CARE) BBB-
Rating Explanation	Having moderate degree of safety regarding timely servicing of financial obligation it carry moderate credit risk.
Date	April 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 DECLINED

MANAGEMENT NON-COOPERATIVE [91-44-26441232/ 91-9000711595]

LOCATIONS

Registered Office :	R.S. No. 37, Nagore Road, T. R. Pattinam, District Karaikal, Pondicherry – 611002, India
Tel. No.:	91-4365-256357/ 256210/ 256478
Fax No.:	91-4365-256395
E-Mail :	kiranglobal@kiranglobal.com
Website.	http://www.kiranglobal.com
Corporate Office :	Old No. 42, New No. 81, New Avadi Road, Kilpauk, Chennai – 600010, Tamilnadu, India
Tel. No.:	91-44-26445477/ 26441232/ 26460350/ 26460651/ 42254700-729
Fax No.:	91-44-26446303/ 42148059
E-Mail :	sales@kiranglobal.com info@kiranglobal.com
Branch Office :	Located at : Haryana Ø Gurgaon Ø Ambala Rajasthan Ø Jaipur Ø Beawar Ø Pali Ø Balotra Gujarat Ø Panoli Ø Mundra Ahmedabad Maharashtra Ø Kolhapur Karnataka Ø Bangalore Ø Managalore Kerala Ø Calicut Ø Edayar Ø Kanjikode Ø Kollam Ø Trivandrum Tamilnadu Ø Chennai Ø Sholavaram Ø Coimbatore Ø Kanyakumari Ø Perundurai Ø Madurai Ø Melavanjore Ø Nagapattinam Ø Pudukottai Ø Tenkasi Ø Thiruvarur Ø Tuticorin Puducherry Ø Mettupalayam Andhra Pradesh Ø Bobbili Ø Vijayawada Ø Hyderabad Chattisgarh Ø Raipur Orissa Ø Rayagada West Bengal Ø Kolkata

DIRECTORS

AS ON 29.09.2012

Name :

Mr. Manmohan Singh Jain

Designation :

Director

Address :

AH -216, Anna Nagar, Chennai – 600040, Tamilnadu, India

Date of Birth/Age :

08.05.1949

Qualification :

B.E.

Date of Appointment :

09.04.2002

PAN No.:

AABPJ0582B

DIN No.:

00004020

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	U51102TN1998PLC039912	MSJ TRADES IMPEX LIMITED	Director	11/01/1999	11/01/1999	-	Active	NO
2	U24232TN2000PLC045909	KIRAN NEWGEN ENTERPRISES LIMITED	Director	16/10/2000	16/10/2000	-	Active	NO
3	U24299PY2002PLC000618	KIRAN GLOBAL CHEMS LIMITED	Director	09/04/2002	09/04/2002	-	Active	NO
4	U14102PY1986PTC000448	RAJ GRANITES PRIVATE LIMITED	Director	27/02/2003	27/02/2003	-	Strike off	NO
5	U51399TN2001PLC047211	M.S.J. CHEMICALS WORLDWIDE LIMITED	Director	10/08/2004	10/08/2004	-	Active	NO
6	U24111TN1985PTC012418	MANMOHAN HOMES PRIVATE LIMITED	Director	15/01/2007	15/01/2007	-	Active	NO
7	U24110AP1986PLC006168	KIRAN GLOBAL AQUA TREATMENT LIMITED	Director	23/07/2007	23/07/2007	-	Active	NO
8	U61100TN2010PLC074438	KIRAN GLOBAL SHIPPING LIMITED	Director	01/02/2010	01/02/2010	-	Active	NO
9	U65921TN1993PLC024511	GROWELL BUSINESS CREDITS LIMITED	Director	30/03/2011	30/03/2011	-	Active	NO
10	U01122CH2011PTC033279	GLOBAL HORTICULTURE PRIVATE LIMITED	Director	26/09/2011	26/09/2011	29/11/2011	Active	NO
11	U24100TN2012PLC085681	ALLIED SILICA LIMITED	Director	01/05/2012	01/05/2012	-	Active	NO
12	AAA-1285	MS JAIN ENTERPRISE LLP	Designated Partner	04/05/2010	04/05/2010	-	Active	NO
13	AAA-1792	EDEN GARDEN ENTERPRISES LLP	Designated Partner	14/07/2010	14/07/2010	-	Active	NO

Name :

Mr. Rufus Fernando Charles Xavier

Designation :

Director

Address :

No. 81 New Avadi Road Kilpauk, Chennai - 600040, Tamilnadu, India

Date of Birth/Age :

27.07.1962

Qualification :

B.Com

Date of Appointment :

09.04.2002

DIN No.:

00004027

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U24119PY1987PTC000496	AADITHYA CHEMICALS PRIVATE LIMITED	Director	01/09/1994	01/09/1994	Amalgamated	NO
2	U24246TN1997PTC038769	SAGAR CHEMICALS(INDIA) PRIVATE LIMITED	Director	29/11/1997	29/11/1997	Amalgamated	NO
3	U51102TN1998PLC039912	MSJ TRADES IMPEX LIMITED	Director	13/02/1998	13/02/1998	Active	NO
4	U24246TN1997PTC038771	VIJAY DETERGENT PRODUCTS PRIVATE LIMITED	Director	14/08/1998	14/08/1998	Amalgamated	NO
5	U24299PY2002PLC000618	KIRAN GLOBAL CHEMS LIMITED	Director	09/04/2002	09/04/2002	Active	NO
6	U24117TN1997PTC039162	PEARL SILICON PRODUCTS PRIVATE LIMITED	Director	01/08/2006	01/08/2006	Active	NO
7	U61100TN2010PLC074438	KIRAN GLOBAL SHIPPING LIMITED	Director	01/02/2010	01/02/2010	Active	NO
8	U65921TN1993PLC024511	GROWELL BUSINESS CREDITS LIMITED	Director	30/03/2011	30/03/2011	Active	NO
9	U24100TN2012PLC085681	ALLIED SILICA LIMITED	Director	01/05/2012	01/05/2012	Active	NO

Name :

Mr. Atul Jain

Designation :

Director

Address :

AH -216, Anna Nagar, Chennai – 600040, Tamilnadu, India

Date of Birth/Age :

25.08.1979

Qualification :

B.E.

Date of Appointment :

20.12.2002

PAN No.:

ADHPA5739J

DIN No.:

00005584

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U24110AP1986PTC006167	INVINCIBLE CHEMICALS PRIVATE LIMITED	Director	20/06/2002	20/06/2002	Active	NO
2	U51399TN2001PLC047211	M.S.J. CHEMICALS WORLDWIDE LIMITED	Director	20/07/2002	20/07/2002	Active	NO
3	U51102TN1998PLC039912	MSJ TRADES IMPEX LIMITED	Director	20/07/2002	20/07/2002	Active	NO
4	U24246TN1997PTC038770	CHENNAI SILICATE PRODUCTS PRIVATE LIMITED	Director	20/07/2002	20/07/2002	Active	NO
5	U24246TN1997PTC038767	ATUL SILICATES PRIVATE LIMITED	Director	20/07/2002	20/07/2002	Active	NO
6	U24110AP1986PTC006171	MEGNA SILICATES PRIVATE LIMITED	Director	20/07/2002	20/07/2002	Active	NO
7	U24294TN1989PTC017040	NUVODAYA CHEMICALS PRIVATE LIMITED	Director	20/08/2002	20/08/2002	Amalgamated	NO
8	U24232TN2000PLC045909	KIRAN NEWGEN ENTERPRISES LIMITED	Director	20/08/2002	20/08/2002	Active	NO
9	U24299PY2002PLC000618	KIRAN GLOBAL CHEMS LIMITED	Director	20/12/2002	20/12/2002	Active	NO
10	U27104TN1998PTC040082	MSJ GLOBAL CARBON PRIVATE LIMITED	Director	26/12/2002	26/12/2002	Active	NO
11	U24246TN1997PTC038771	VIJAY DETERGENT PRODUCTS PRIVATE LIMITED	Director	20/01/2003	20/01/2003	Amalgamated	NO
12	U14299TZ1984PTC001496	UNITED SILICATE INDUSTRIES PRIVATE LIMITED	Director	01/06/2004	01/06/2004	Amalgamated	NO
13	U61100TN2010PLC074438	KIRAN GLOBAL SHIPPING LIMITED	Director	01/02/2010	01/02/2010	Active	NO
14	U65921TN1993PLC024511	GROWELL BUSINESS CREDITS LIMITED	Director	30/03/2011	30/03/2011	Active	NO
15	U24100TN2012PLC085681	ALLIED SILICA LIMITED	Director	01/05/2012	01/05/2012	Active	NO
16	AAA-1285	MS JAIN ENTERPRISE LLP	Designated Partner	04/05/2010	04/05/2010	Active	NO
17	AAA-1792	EDEN GARDEN ENTERPRISES LLP	Designated Partner	14/07/2010	14/07/2010	Active	NO

Name :

Mr. Prem Kumar Komroth Gangadharan

Designation :

Director

Address :

42, Seventy Feet Road, Jawahar Nagar, Chennai – 600082, Tamilnadu, India

Date of Birth/Age :

09.02.1952

Qualification :

B.E.

Date of Appointment :

20.06.2005

DIN No.:

00004161

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U74999TN1997PTC038616	VALLABH SILICATES PRIVATE LIMITED	Director	22/04/2002	22/04/2002	Amalgamated	NO
2	U24294TN1988PTC016661	NANNILAM SILICATE PRIVATE LIMITED	Director	22/04/2002	22/04/2002	Amalgamated	NO
3	U24294TN1988PTC016660	EZHIL CHEMICAL PRIVATE LIMITED	Director	22/04/2002	22/04/2002	Active	NO
4	U24294TN1989PTC016774	PAVAN SILICATES PRIVATE LIMITED	Director	21/02/2003	21/02/2003	Active	NO
5	U24230TN1985PTC012150	DEVI SILICATES PRIVATE LIMITED	Director	05/08/2003	05/08/2003	Amalgamated	NO
6	U24110AP1986PTC006169	SUPER SILICATES PRIVATE LIMITED	Director	11/07/2004	11/07/2004	Active	NO
7	U74999TN1997PTC038619	KIRAN CHEMFARM PRIVATE LIMITED	Director	11/07/2004	11/07/2004	Amalgamated	NO
8	U24246TN1985PTC012416	KIRAN SILICATES PRIVATE LIMITED	Director	15/04/2005	15/04/2005	Amalgamated	NO
9	U24299PY2002PLC000618	KIRAN GLOBAL CHEMS LIMITED	Director	20/06/2005	20/06/2005	Active	NO
10	U14102PY1986PTC000448	RAJ GRANITES PRIVATE LIMITED	Director	05/01/2006	05/01/2006	Strike off	NO
11	U24117TN1997PTC039292	MAGNUM OILS AND CHEMICALS PRIVATE LIMITED	Director	01/08/2006	01/08/2006	Strike off	NO
12	U24294TN1988PTC016627	ANDAVAR SILICATE PRIVATE LIMITED	Director	01/08/2006	01/08/2006	Amalgamated	NO
13	U24110AP1986PLC006168	KIRAN GLOBAL AQUA TREATMENT LIMITED	Director	01/08/2006	01/08/2006	Active	NO
14	U24110AP1986PTC006167	INVINCIBLE CHEMICALS PRIVATE LIMITED	Director	20/06/2007	20/06/2007	Active	NO
15	U24294TN1989PTC017040	NUVODAYA CHEMICALS PRIVATE LIMITED	Director	20/06/2007	20/06/2007	Amalgamated	NO
16	U24111TN1980PTC008284	KIRAN CHEMICALS PRIVATE LIMITED	Director	20/06/2007	20/06/2007	Amalgamated	NO
17	U24240AP1989PTC009738	MSJ MINERALS PRIVATE LIMITED	Director	24/09/2012	24/09/2012	Active	NO
18	U24246TN1997PTC038770	CHENNAI SILICATE PRODUCTS PRIVATE LIMITED	Director	24/09/2012	24/09/2012	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

Names of Shareholders	No. of Shares
M S Jain	50860
Atul Jain	51260
C Rufus Fernando	440
Rasheed	438
Anil Seth	2
Neha Jain	2000
Advitya Jain	5000
Rishabh Jain	5000
Rayaansh Jain	5000
Total	120000

AS ON 29.09.2012

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Sodium Silicate, Sodium Meta Silicate, Potassium Silicate, etc.

Products :

ITC Code	Product Descriptions
98020000	Chemicals

GENERAL INFORMATION

No. of Employees :

Not Divulged

Bankers :

Ø IDBI Bank Limited, 115 Anna Salai, Saidapet, Chennai – 600015, Tamilnadu, India Ø HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel [West], Mumbai - 400013, Maharashtra, India Ø Axis Bank Limited, Corporate Banking Branch, Ground Floor, Karumuthu Nilayam, No.192, Anna Salai, Chennai - 600002, Tamilnadu, India Ø State Bank of India, Siruthozhil Branch, No. 2 Valluvar Kottam High Road, Nungambakkam, Chennai - 600034, Tamilnadu, India

Banking Relations :	--
Financial Institution :	TATA Capital Limited, One Forbes, Dr V B Gandhi Marg, Fort, Mumbai - 400001, Maharashtra, India
Auditors :
Name :	V.S. Reddy S.P. and Associates Chartered Accountants
Address :	The Regency, No. 5, 1^st Lane, Ground Floor, Nungambakkam, Chennai - 600034, Tamilnadu, India
Tel. No.:	91-44-28256315/ 28256241
Fax No.:	91-44-28255496
Income-tax PAN of auditor or auditor's firm :	AAVPS5618M

CAPITAL STRUCTURE

AFTER 29.09.2012

Authorised Capital : Rs. 370.000 Millions

Issued, Subscribed & Paid-up Capital : Rs. 345.765 Millions

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
120,000	Equity Shares	Rs. 1000/- each	Rs. 120.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
120,000	Equity Shares	Rs. 1000/- each	Rs. 120.000 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		120.000	59.000	44.000
2] Share Application Money		34.929	30.001	32.601
3] Reserves & Surplus		413.286	292.336	209.784
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		568.215	381.337	286.385
LOAN FUNDS
1] Secured Loans		0.000	0.000	488.879
2] Unsecured Loans		1340.412	1034.748	20.000
TOTAL BORROWING		1340.412	1034.748	508.879
DEFERRED TAX LIABILITIES		26.444	24.000	0.539
TOTAL		1935.071	1440.085	795.803
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		491.605	348.671	230.832
Capital work-in-progress		18.761	38.482	43.277
INVESTMENT		100.395	36.139	30.134
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	750.902	570.652	356.106
	Sundry Debtors	545.666	412.247	275.670
	Cash & Bank Balances	94.452	84.922	91.013
	Other Current Assets	21.236	21.286	0.000
	Loans & Advances	69.410	103.631	40.500
Total Current Assets		1481.666	1192.738	763.289
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	91.906	98.644	241.911
	Other Current Liabilities	10.502	5.214	0.000
	Provisions	54.948	72.087	29.818
Total Current Liabilities		157.356	175.945	271.729
Net Current Assets		1324.310	1016.793	491.560
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		1935.071	1440.085	795.803

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Revenue from operations	2957.976	2597.355	1805.567
		Other Income	(0.772)	29.051	17.384
		TOTAL (A)	2957.204	2626.406	1822.951
Less	EXPENSES
		Cost of materials consumed	2490.085	2271.930
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	(37.260)	(71.716)
		Employee benefit expense	45.115	30.947
		Other expenses	112.495	105.058
		TOTAL (B)	2610.435	2336.219	1646.355
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		346.769	290.187	176.596
Less	FINANCIAL EXPENSES (D)		166.987	116.925	64.373
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		179.782	173.262	112.223
Less/ Add	DEPRECIATION/ AMORTISATION (F)		50.267	48.828	47.073
	PROFIT BEFORE TAX (E-F) (G)		129.515	124.434	65.150
Less	TAX (H)		46.132	41.881	21.757
	PROFIT AFTER TAX (G-H) (I)		83.383	82.553	43.393
	EARNINGS IN FOREIGN CURRENCY
		Exports Sales	293.892	308.162	380.704
	IMPORTS
		Raw Materials	1044.508	855.677	665.433
	Earnings Per Share (Rs.)		694.86	1399.20	986.20

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	2.82	3.14	2.38
Net Profit Margin (PBT/Sales)	(%)	4.38	4.74	3.61
Return on Total Assets (PBT/Total Assets}	(%)	6.56	8.07	6.55
Return on Investment (ROI) (PBT/Networth)		0.23	0.33	0.23
Debt Equity Ratio (Total Debt/Networth)		2.36	2.71	1.78
Current Ratio (Current Asset/Current Liability)		9.42	6.78	2.81

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

UNSECURED LOANS

Unsecured Loans	31.03.2012	31.03.2011
	(Rs. In Millions)
Rupee term loans from banks	94.261	66.715
Borrowing from government semi-government bodies	1.631	2.143
Loans taken for fixed assets	105.577	77.956
Term loans from banks	31.025	0.000
Term loans from others	0.000	25.200
Working capital loans from banks	654.496	555.544
Loans repayable on demand from banks	453.422	307.190
Total	1340.412	1034.748

BANKERS CHARGES REPORT AS PER REGISTRY

Corporate identity number of the company	U24299PY2002PLC000618
Name of the company	KIRAN GLOBAL CHEMS LIMITED
Address of the registered office or of the principal place of business in India of the company	R.S. No. 37, Nagore Road, T. R. Pattinam, District Karaikal, Pondicherry – 611002, India Email: kiranglobal@kiranglobal.com
This form is for	Creation of charge
Type of charge	Book debts Movable property (not being pledge)
Particular of charge holder	IDBI Bank Limited, 115 Anna Salai, Saidapet, Chennai – 600015, Tamilnadu, India Email: aj.kumar@idbi.co.in
Nature of description of the instrument creating or modifying the charge	Deed of hypothecation for term loan of Rs.250.000 Millions
Date of instrument Creating the charge	28.03.2013
Amount secured by the charge	Rs. 250.000 Millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest BBR+350 bps p.a (Presently BBR is 10.25% p.a) Terms of Repayment 48 equal monthly instalments after a moratorium of 1 year Margin Not applicable Extent and Operation of the charge The corporate loan of Rs.250.000 Millions is secured by First charge on all the Company's movable assets including machinery, machinery spares, tools/accessories, stocks of raw materials, semi finished and finished goods, consumable stores and book debts, both present and future, subject to prior charges created and /or to be created in favour of the Company's Bankers.
Short particulars of the property charged	The corporate loan of Rs.250.000 Millions is secured by First charge on all the Company's movable assets including machinery, machinery spares, tools/accessories, stocks of raw materials, semi-finished and finished goods, consumable stores and book debts, both present and future, subject to prior charges created and /or to be created in favour of the Company's Bankers.

CONTINGENT LIABILITIES:

Particulars	31.03.2012	31.03.2011
	(Rs. in Millions)
Letter of Credit Opened by Bankers Purchase of Raw Materials, machinery etc., (Net of Margin Money)	93.203	93.316
On Guarantees issued in favour of Central Government authorities (Net of Margin Money)	2.487	7.525
Total	95.690	100.841

FIXED ASSETS:

Ø Land

Ø Buildings

Ø Factory building

Ø Plant and equipment

Ø Factory equipments

Ø Furniture and fixtures

Ø Vehicles

Ø Motor vehicles

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. 55.04
UK Pound	1	Rs. 83.95
Euro	1	Rs. 70.93

INFORMATION DETAILS

Information Gathered by :	SVA
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTERS
--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.