MIRA INFORM REPORT

Report Date :

07.11.2013

IDENTIFICATION DETAILS

Name :	FIL INDUSTRIES LIMITED (w.e.f. 31.07.2000)
Formerly Known As :	FUNGICIDES (INDIA) Private LIMITED (w.e.f. 11.02.1992) FUNGICIDES (INDIA) LIMITED
Registered Office :	“Kohinoor House”, 7, Sheikh Bagh, Srinagar – 190001, Jammu and Kashmir
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	29.08.1989
Com. Reg. No.:	07-001136
Capital Investment / Paid-up Capital :	Rs.72.870 Millions
CIN No.: [Company Identification No.]	U24231JK1989PLC001136
TAN No.: [Tax Deduction & Collection Account No.]	AMRF10062D
PAN No.: [Permanent Account No.]	AAKCS6497E
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	The company is engaged in various business viz. Agrochemical (under Crop Protection Division) Food Processing (under as Consumer Division) a 100% EOU, C.A. Store (Controlled Atmosphere Store) for storage of fruits and vegetables under controlled atmospheric conditions and a food and beverage division primarily tetra packaging / bottling of fruit juices.
No. of Employees :	300 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (55)

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

Maximum Credit Limit :	USD 5300000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established company having a fine track record. However, there appears some dip in the profitability of the company during 2012. General financial positions is good. Trade relations are reported as decent. Business is active. Payments are reported to be regular and as per commitments. The company can be considered good 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 – 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

INDIAN ECONOMIC OVERVIEW

India’s current account deficit or CAD in April-June widened to 4.9 % of gross domestic product. High imports of gold and oil led to a worsening of the trade deficit, resulting in CAD jumping to $ 21.8 billion to the latest quarter from $ 16.9 billion in the corresponding quarter of the previous financial year. The government aims to bring down CAD to 3.7 % or $ 70 billion, in 2013/14, from 4.8 % or $ 88.2 billion in 2012/13.

The finance ministry has started preparations for Budget 2014/15. With general elections scheduled to be held by May next year, there will only be an interim budget. The new government will present the fiscal Budget.

The Supreme Court has barred clinical trials for new drugs till a monitoring mechanism is put in place to protect the lives of people on which the drugs are tested.

Mumbai has been named the world’s second most honest city according to a survey on 15 cities worldwide by Readers’ Digest magazine. Finnish capital Helsinki bagged the top spot for the world’s most honest city while Lisbon, the capital of Portugal, proved to be the least honest.  The survey put hundreds of people to test in four continents to find out just how honest they were by dropping wallets and seeing how many would be returned.

3.7 % Growth of the core sector in August, a seven month high. This takes the overall growth in April-August this year to 2.3 % compared with 6.3 % in the corresponding period next financial year.

$19 million Estimated average spending by companies across the globe including India, on social media this year, according to a global study by information technology major Tata Consultancy Services. This will rise to $ 24 million in 2015.

Rising inflation, fewer employment avenues and dwindling earnings are taking a toll on the spending capacity in India. Over 72 % respondents from middle and lower middle income families would be forced to slash their Diwali expenditure by 40 % and on average spend nearly 25 % of their monthly salary on Diwali, according to a survey by Assochem.

Analysts believe the shutdown of the US government would have limited impact in sectors such as IT or tourism that are dependent on Visa clearances.

EXTERNAL AGENCY RATING

Rating Agency Name	IND
Rating	Long term : BB+
Rating Explanation	Have moderate risk of default.
Date	23 October 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 (GENERAL DETAILS)

Name :	Mr. Lokedra
Designation :	General Manager Finance
Contact No.:	91-9419006564
Date :	31.10.2013

LOCATIONS

Registered Office :	“Kohinoor House”, 7, Sheikh Bagh, Srinagar – 190001, Jammu and Kashmir, India
Tel. No.:	91-194-2474543 / 2455161
Mobile No.:	91-9419093367 (Mr. Kuchey Basharat Ahmed)
Fax No.:	91-194-2452462
E-Mail :	admin@filindustrieslimited.com filsnnagar@filindustrieslimited.com filsgr4@sancharnet.in
Website :	www.filindustries.com
Factory 1 /Corporate Office :	H – 88, The South Mall, South Extension I, New Delhi – 110049, India
Tel. No.:	91-11-24620505 / 0707 / 0808 / 24605600
Fax No.:	91-11-24633874 / 24646551
	fidelhi@del2.vsnl.net.in
Factory 2 :	Sidco Electronic Complex, Rangreth, Srinagar - 190007, Jammu And Kashmir, India
Tel. No.:	91-194-2300507
Fax No.:	91-194-2300168

DIRECTORS

As on 21.09.2012

Name :

Mr. Iqbal Mohd Syed

Designation :

Whole time Director

Address :

7, Sheikh Bagh, Srinagar-190001, Jammu and Kashmir, India

Date of Birth/Age :

14.07.1932

Date of Appointment :

29.08.1989

DIN No.:

00094720

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	U24231JK1989PLC001136	FIL INDUSTRIES LIMITED	Director	29-08-89	29-08-89	-	Active	NO
2	U15531JK1998PTC001805	KOHINOOR INTERNATIONAL PRIVATE LIMITED	Director	09-03-98	09-03-98	-	Active	NO

Name :

Mr. Altaf Mohmad Syed

Designation :

Managing Director

Address :

7, Sheikh Bagh, Srinagar-190001, Jammu and Kashmir, India

Date of Birth/Age :

19.02.1959

Date of Appointment :

27.09.2010

DIN No.:

00092283

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	U24231JK1989PLC001136	FIL INDUSTRIES LIMITED	Managing director	29-08-89	29-08-89	-	Active	NO
2	U15531JK1998PTC001805	KOHINOOR INTERNATIONAL PRIVATE LIMITED	Director	09-03-98	09-03-98	-	Active	NO
3	U01212JK1978SGC000428	JAMMUANDKASHMIR HORTICULTURAL PRODUCE MKT AND PROCESSING CORPORATION LIMITED	Director	03-02-06	03-02-06	-	Active	YES

Name :

Mr. Tariq Mohd Syed

Designation :

Director

Address :

7, Sheikh Bagh, Srinagar-190001, Jammu and Kashmir, India

Date of Birth/Age :

07.07.1970

Date of Appointment :

21.09.2012

DIN No.:

00094590

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	U24231JK1989PLC001136	FIL INDUSTRIES LIMITED	Director	29-08-89	29-08-89	-	Active	NO
2	U15531JK1998PTC001805	KOHINOOR INTERNATIONAL PRIVATE LIMITED	Managing director	09-03-98	09-03-98	-	Active	NO
3	U92132JK2008PTC002930	G K NEWS NETWORK PRIVATE LIMITED	Director	14-08-08	14-08-08	-	Strike off	NO
4	U63040DL2010PTC202566	VALLEY FLIERS SERVICES PRIVATE LIMITED	Director	12-05-10	12-05-10	-	Active	NO
5	U70200DL2012PTC244840	RFK GREENS FOOD PARK PRIVATE LIMITED	Director	14-11-12	14-11-12	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Lokedra
Designation :	General Manager Finance

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 23.09.2011

Names of Shareholders	No. of Shares
Iqbal Mohd Syed	13580
Altaf Mohd. Syed	20700
Tariq Mohd. Syed	10294
Hafeeza Begum	8690
Tabassum Altaf	4300
Junaid Altaf	200
Owais Altaf	200
PFB Project Engineering	3906
Ruti Tarlq	4000
Kohinoor International Private Limited, India	7000
Total	72870

As on 21.09.2012

Equity Share Break up (Percentage of Total Equity)

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	5.36
Bodies corporate	9.60
Directors or relatives of Directors	85.04
Total	100.00

BUSINESS DETAILS

Line of Business :

The company is engaged in various business viz. Agrochemical (under Crop Protection Division) Food Processing (under as Consumer Division) a 100% EOU, C.A. Store (Controlled Atmosphere Store) for storage of fruits and vegetables under controlled atmospheric conditions and a food and beverage division primarily tetra packaging / bottling of fruit juices.

Products :

Description of product or service category	ITC Code
Apple Juice Concentrate	2009

Imports :

Products :

Raw Material

Countries :

China

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

PRODUCTION STATUS

As On 31.03.2011

Pesticides, Herbicides, Fungicides, Insectides, Food Processing and Tetra Pack Plants:	Unit	Licensed Capacity	Installed Capacity	Actual Production
WDP Plant	MT	N.A.	1675	1531
Liquid Plant	KL	N.A.	1920	972
Granual Plant	MT	N.A.	1533	936
Food Processing Plant	MT	N.A.	4800	196
Tetra packing Plant	KL	N.A.	3024	2986

GENERAL INFORMATION

Customers :

• Wholesalers
• Retailers

No. of Employees :

300 (Approximately)

Bankers :

• UCO Bank, Flagship Corporate Centre, 5, Parliament Street, New Delhi – 110001, India
• The Jammu and Kashmir Bank Limited, Connaught Place, New Delhi, Delhi, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
Long-term borrowings
Rupee term loans from banks	212.643	285.966
Loans taken for fixed assets	6.642	8.976
Short –term borrowings
Working capital loans from banks	390.309	355.590
Total	609.594	650.532
(A) Term Loans a) From Banks (Secured Against Specific Plant and Machinery and Other Assets) i) Food and Beverage Division The Jammu and Kashmir Bank. Rs 150.000 Millions ii) Ware Housing Division UCO Bank Rs.62.643 Millions iii) Crop Protection Division UCO Bank The Loan is secured by way of first mortgage/charge on the immovable property of Food and Beverage Division and second charge on the immovable properties of Consumer Division situated at Rangreth, Srinagar, Kashmir. The Term Loan is secured by way of first mortgage/charge on the uarantee property situated at Warehousing Division situated at Rangreth, Srinagar, Kashmir. The Term Loan is secured by way of first mortgage/charge on the uarantee property situated at, Barhibramhna, Jammu. All the above loans are provided with personal uarantees of all Promoter Directors (A) b) For Vehicle (Secured Against Respective specific Vehicle) from i) HDFC Bank Limited Rs.6.514 Millions ii) J and K Bank Limited Rs.0.127 Million. (A) Working Capital Loans : Crop Protection Division UCO Bank : Rs.165.727 Millions Cash Credit Crop Protection Division (UCO Bank) : Rs.45.580 Millions Ware Housing Division (UCO Bank ) : Rs 88.845 Millions Food and Beverage Division (UCO Bank ) : Rs.32.439 Millions Pre and Post Shipment Credit : Consumer Division (UCO Bank ): Rs 22.998 Millions.

Banking Relations :	--
Business Institution:	SBI Global Factors Limited, 6th Floor, Metropolitan Building, Bandra-Kurla, Complex, Bandra(East), Mumbai - 400051, Maharashtra, India
Auditors :
Name :	Manzoor and Company Chartered Accountants
Address :	3^rd Floor Baba Building, II, Residency Road, Srinagar-190001, Jammu and Kashmir, India
Tel. No.:	91-194-2482495 / 96 / 97 / 98
Mobile No.:	91-9906628861
PAN.:	AATPW6692D

CAPITAL STRUCTURE

AFTER 21.09.2012

Authorised Capital : Rs.220.000 Millions

Issued, Subscribed & Paid-up Capital : Rs. 73.130 Millions

As on 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
220000	Equity Shares	Rs.1000/- each	Rs.220.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
72870	Equity Shares	Rs.1000/- each	Rs.72.870 Millions

Disclosure of shareholding more than five per cent in company

Name of shareholder	Number of shares held in company	Percentage of shareholding in company
Syed Mohd Iqbal	13,580	19.00%
Syed Mohd Altaf	20,700	28.00%
Syed Mohd Tariq	10,294	14.00%
Hafeeza Begum	8,690	12.00%
Tabassum Altaf	4,300	6.00%
Ruhi Tariq	4,000	5.00%
Kohinoor International Private Limited	7,000	10.00%
PFB Project Engineering	3,906	5.00%

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	72.870	72.870
(b) Reserves & Surplus	1261.165	1205.591
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.260	0.260
Total Shareholders’ Funds (1) + (2)	1334.295	1278.721
(3) Non-Current Liabilities
(a) long-term borrowings	219.285	294.943
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	35.859	33.077
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	255.144	328.020
(4) Current Liabilities
(a) Short term borrowings	390.309	355.590
(b) Trade payables	141.394	101.682
(c) Other current liabilities	213.737	181.017
(d) Short-term provisions	22.283	25.764
Total Current Liabilities (4)	767.723	664.053
TOTAL	2357.162	2270.794
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1070.930	1109.739
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	20.778	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	22.872	25.581
(e) Other Non-current assets	111.787	118.895
Total Non-Current Assets	1226.367	1254.215
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	281.313	346.496
(c) Trade receivables	558.937	515.802
(d) Cash and cash equivalents	29.390	43.242
(e) Short-term loans and advances	261.152	111.033
(f) Other current assets	0.003	0.006
Total Current Assets	1130.795	1016.579
	2357.162	2270.794

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		72.870
2] Share Application Money		0.260
3] Reserves & Surplus		1132.795
4] (Accumulated Losses)		0.000
NETWORTH		1205.925
LOAN FUNDS
1] Secured Loans		868.194
2] Unsecured Loans		17.000
TOTAL BORROWING		885.194
DEFERRED TAX LIABILITIES		0.000
TOTAL		2091.119
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1162.797
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	241.296
	Sundry Debtors	653.565
	Cash & Bank Balances	58.100
	Other Current Assets	37.612
	Loans & Advances	91.689
Total Current Assets		1082.262
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	90.824
	Other Current Liabilities	45.466
	Provisions	17.659
Total Current Liabilities		153.949
Net Current Assets		928.313
MISCELLANEOUS EXPENSES		0.009
TOTAL		2091.119

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	1845.873	1640.515	1643.931
		Other Income	16.877	51.081	118.240
		TOTAL (A)	1862.750	1691.596	1762.171
Less	EXPENSES
		Cost of Material Consumed	692.563	685.515
		Purchase of stock –in-trade	577.490	548.643
		Changes in inventories of finished goods work-in-progress and stock –in-trade	69.496	(39.591)
		Employee benefit expenses	82.250	80.747
		Other expenses	190.441	156.484
		TOTAL (B)	1612.240	1431.798	1466.271
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		250.510	259.798	295.900
Less	INTEREST FINANCIAL EXPENSES (D)		108.642	95.579	126.040
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		141.868	164.219	169.860
Less/ Add	DEPRECIATION/ AMORTISATION (F)		70.491	70.605	66.393
	PROFIT BEFORE TAX (E-F) (G)		71.377	93.614	103.467
Less	TAX (H)		14.316	18.702	17.658
	PROFIT AFTER TAX (G-H) (I)		57.061	74.912	85.809
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		913.220	840.424	703.213
Less	INCOME TAX AD JUST MENT OF THE EARLIER YEAR		1.488	2.116	(51.402)
	BALANCE CARRIED TO THE B/S		968.793	913.220	840.424
	EARNINGS IN FOREIGN CURRENCY
		Manufacturing Good	NA	3.048	3.512
		Traded Goods	NA	42.287	0.000
	TOTAL EARNINGS		NA	45.335	3.512
	IMPORTS
		Raw Materials	NA	62.508	56.003
		Stores & Spares	NA	0.996	0.030
		Capital Goods	NA	2.282	0.109
	TOTAL IMPORTS		NA	65.786	56.142
	Earnings Per Share (Rs.)		783.000	1028.00	1882.962

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	3.06	4.43	4.87
Net Profit Margin (PBT/Sales)	(%)	3.87	5.70	6.29
Return on Total Assets (PBT/Total Assets}	(%)	3.06	4.13	4.61
Return on Investment (ROI) (PBT/Networth)		0.05	0.07	0.09
Debt Equity Ratio (Total Debt /Networth)		0.47	0.65	0.76
Current Ratio (Current Asset/Current Liability)		3.06	6.99	1.17

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

COMPANY OVERVIEW

Subject is engaged in various business viz. Agrochemical (under Crop Protection Division) Food Processing (under as Consumer Division) a 100% EOU, C.A. Store (Controlled Atmosphere Store) for storage of fruits and vegetables under controlled atmospheric conditions and a food and beverage division primarily tetra packaging / bottling of fruit juices. The Electronics/Trading Division which caters to vast requirements of different consumers and aims to cover both Hardware and Software items. The company has successfully executed projects of supply of electronic equipments. The Company is also engaged in the activities of providing basic infrastructure facilities at the farm level and near the fruit growing areas involving setting up and maintenance of processing units and controlled atmospheric stores together to the packing and grading lines on contract basis under its’ Engineering Division.

PERFORMANCE REVIEW

This year the company has seen a marginal increase in turnover from Rs 1682.600 Millions in the previous year 2010-11 to Rs1897.200 Millions in the current year 2011-12. The Net Profit for the year however showed a decrease from Rs. 74.900 Millions in the previous year 2010 – 11 to Rs. 57.000 Millions in the current year 2011 – 12.

The reasons for lower profits during the year have been mainly due to increase in expenses across the business specially traveling, power and fuel. As an internal restructuring measure, The company has written of certain debts which had over the years become unrecoverable. Also, the previous had an increase in the income due to VAT remission is the previous year and excise refund under the consumer division in the previous year.

There was a considerable drop in export of Apple Juice Concentrate under the consumer division. This was mainly due to poor availability and high procurement prices of apple, due to which export was not feasible. Pending contracts from the previous year were completed and the sales for the year were badly affected. With China offering lower prices in the market and with higher raw material costs for Them in India it has been a tough year ahead.

ACHIEVEMENTS AND EXPANSIONS

The Company has made strategic efforts in its internal restructuring, financial and organizational, which is an important move for The company towards strategic and positive growth. The company is also looking at strategic arrangements for its businesses and talks with some are on final stage. On finalization They shall soon be disclosing the relevant details.

FUTURE OUTLOOK

The Company’s current businesses in the field of Agrochemicals and Food processing show tremendous growth potential in the years to come. The Company is in the trading and manufacturing of Agro chemicals, Fruit Juice Concentrate and Fresh Fruits. The Agribusiness sector in India is growing manifold and is bound to grow in the coming years as well. FIL has a well diversified product range catering to the Agribusiness industry and in particular the Indian Agrochemicals sector, the Food Processing Sector and the Horticulture sector.

India is the fourth largest producer of Agrochemicals globally, the largest being USA. The agrochemicals industry is a significant industry for the Indian Economy. Since the Indian agricultural sector is highly dependent on monsoons, the market for agrochemicals is expected to grow at a conservative growth rate of 7.5% to reach USD 1.95 Bn by FY14.

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10456820	23/09/2013	100,000,000.00	THE JAMMU AND KASHMIR BANK LIMITED	SSI LAL CHOWK, SRINAGAR, JAMMU AND KASHMIR - 190001, INDIA	B88217575
2	10433694	10/05/2013	97,200,000.00	SBI GLOBAL FACTORS LIMITED	6TH FLOOR, METROPOLITAN BUILDING, BANDRA-KURLA, COMPLEX, BANDRA(EAST), MUMBAI, MAHARASHTRA - 400051, INDIA	B78238383
3	10418904	18/03/2013	300,000,000.00	THE JAMMU AND KASHMIR BANK LIMITED	G-40 CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA	B72937717
4	10387172	19/11/2012	20,000,000.00	UCO BANK	FLAGSHIP CORPORATE CENTRE, 5, PARLIAMENT STREET, NEW DELHI, DELHI - 110001, INDIA	B62261243
5	10387299	19/11/2012	90,000,000.00	UCO BANK	FLAGSHIP CORPORATE CENTRE, 5, PARLIAMENT STREET, NEW DELHI, DELHI -110001, INDIA	B62281167
6	10337588	16/01/2012	220,000,000.00	JAMMU AND KASHMIR BANK LIMITED	G-40, CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA	B32970634
7	10335483	08/09/2011	100,000,000.00	JAMMU AND KASHMIR BANK LIMITED	(CORPORATE HEADQUARTERS), M.A.ROAD,SRINAGAR, KASHMIR, SRINAGAR, JAMMU AND KASHMIR - 190001, INDIA	B25233917
8	10086297	19/11/2012 *	10,000,000.00	UCO BANK	FLAGSHIP CORPORATE CENTRE, 5, PARLIAMENT STREET, NEW DELHI, DELHI - 110001, INDIA	B64137243
9	10070039	17/10/2007	50,000,000.00	ICICI BANK LIMITED	LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA	A24560559
10	10031615	03/09/2009 *	200,000,000.00	JAMMU AND KASHMIR BANK LIMITED	(CORPORATE HEADQUARTERS), M.A.ROAD,SRINAGAR, KASHMIR , SRINAGAR, JAMMU AND KASHMIR - 190001, INDIA	A70138714

Note: * Date of charge modification

FIXED ASSETS:

• Land
• Land(Leasehold)
• Office Building
• Factory Building
• Plant and Machinery
• Vehicles
• Furniture and Fixture
• Office Equipments

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.61.92
UK Pound	1	Rs.99.60
Euro	1	Rs.83.64

INFORMATION DETAILS

Report Prepared by :

KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	7
--CREDIT LINES	1~10	6
--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
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		55

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.