MIRA INFORM REPORT

Report Date :

12.11.2013

IDENTIFICATION DETAILS

Name :	INDOFIL INDUSTRIES LIMITED (w.e.f.05.10.2010)
Formerly Known As :	INDOFIL ORGANIC INDUSTRIES LIMITED
Registered Office :	Kalpataru Square, 4^th Floor, Off Andheri Kurla Road, Andheri (East), Mumbai – 400 059, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	09.02.1993
Com. Reg. No.:	11-070713
Capital Investment / Paid-up Capital :	Rs.206.602 Millions
CIN No.: [Company Identification No.]	U24110MH1993PLC070713
TAN No.: [Tax Deduction & Collection Account No.]	MUM07395D
PAN No.: [Permanent Account No.]	AABC4568D
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Plastic Chemicals.
No. of Employees :	900 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (54)

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

Maximum Credit Limit :	USD 13000000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established company having a fine track record. Financial position of the company appears to be strong and healthy. Directors are reported to be well experienced and knowledgeable businessmen. Trade relations are reported as trustworthy. Business is active. Payment terms are reported as regular and as per commitments. The company can be considered good for business dealings at usual trade terms and conditions.

NOTES:

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

ECGC Country Risk Classification List – March 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
India	A1	A1

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

INDIAN ECONOMIC OVERVIEW

The current downturn provides an opportunity to push ahead with reforms to accelerate growth, says the latest India Development Update report released by the World Bank. The report says that the adverse effects of rupee depreciation are likely to be offset by the gains in the exports performance due to improved external competitiveness. Since May this year, the local currency has depreciated substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.

A stagflation like situation appears to have arisen as inflation jumped to an eight month high of 6.46 % for the month of September. It is up from 6.10 % in August. Growth continues to be muted with factory output plunging to 0.6 % in August. Onion prices have risen nearly 300 % from last September. Vegetables cost nearly 90 % more than they did last year. Wake up to the economic contribution of slum dwellers. They contribute more than 7.5 % to the country’s gross domestic product, according to a recent study conducted in 50 top cities.

136000 estimated number of jobs created during the second quarter of the current financial year. 50000 estimated number of additional jobs in the field of corporate social responsibility in the coming years.

The International Finance Corporation expects to come out with its rupee linked bonds issue before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been launched in India from 1^st November.

The Land Acquisition Act to provide just and fair compensation to farmers will come into force from January 1 next year, said Rural Development Minister Jairam Ramesh. The Act replaces a 119 year old registration. The Securities and Exchange Board of India has approved the trading of currency futures on the Bombay Stock Exchange. The exchange plans to launch the currency futures platform with advanced trading technology by the end of November.

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long Term bank Facilities=BBB+
Rating Explanation	Moderate Credit Quality and Average Credit Risk.
Date	19.04.2013

Rating Agency Name	CARE
Rating	Short Term Non Fund Based Limits
Rating Explanation	Strong Degree of Safety and Low Credit Risk.
Date	19.04.2013

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.

LOCATIONS

Registered Office / Head Office :	Kalpataru Square, 4^th Floor, Off Andheri Kurla Road, Andheri (East), Mumbai – 400 059, Maharashtra, India
Tel. No.:	91-22-66637373 / 66637555
Fax No.:	91-22-28322272
E-Mail :	indofilcs-icc@modi.com indofil@modi.com sspatil-icc@modi.com smsharma-icc@modi.com
Website :	www.indofilcc.com
Factory :	Off.S. V. Road, Azad Nagar, Sandoz Baug, Thane – 400 607, Maharashtra, India
Tel No.:	91-22-67999100
Fax No.:	91-22-25898357

DIRECTORS

AS ON 20.09.2013

Name :

Mr. Krishan Kumar Modi

Designation :

Director

Address :

A- 1, Maharani Bagh, New Delhi-110065, India

Date of Birth/Age :

27.08.1940

Qualification :

B. Com

Date of Appointment :

01.03.2012

Voter ID No.:

DKY 1289875

DIN No.:

00029407

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	L65993UP1965PLC003082	MODIPON LIMITED	Director	19/08/1965	19/08/1965	25/01/2007	Active	NO
2	L15429UP1932PLC000469	MODI INDUSTRIES LIMITED	Director	30/04/1970	30/04/1970	-	Active	NO
3	L17111UP1946PLC001428	MODI SPINNING AND WEAVING MILLS COMPANY LIMITED	Director	12/02/1976	12/02/1976	-	Active	NO
4	L16004MH1936PLC008587	GODFREY PHILLIPS INDIA LIMITED	Managing director	14/08/2012	05/11/1979	-	Active	NO
5	U65101DL1992PTC049846	K K MODI INVESTMENT AND FINANCIAL SERVICES PRIVATE LIMITED	Director	05/08/1992	05/08/1992	-	Active	NO
6	U74900DL1993PLC051770	MODICARE SALES AND SERVICES LIMITED	Director	18/01/1993	18/01/1993	-	Strike off	NO
7	U74899DL1993PLC051769	HOME COMMUNICATION NETWORK LIMITED	Director	18/01/1993	18/01/1993	01/03/2002	Active	NO
8	U24110MH1993PLC070713	INDOFIL INDUSTRIES LIMITED	Managing director	01/03/2012	09/02/1993	-	Active	NO
9	U51900MH1994PTC078793	W D CONSUMER PRODUCTS PRIVATE LIMITED	Director	06/06/1994	06/06/1994	-	Strike off	NO
10	U74899DL1995PLC064964	MODI ENTERTAINMENT LIMITED	Director	02/02/1995	02/02/1995	-	Active	NO
11	U74899DL1995PLC072562	INDIAN CRICKET LEAGUE LIMITED	Director	19/09/1995	19/09/1995	-	Active	NO
12	U92100MH1995PTC093949	MODI NEW WORLD INDIA PRIVATE LIMITED	Director	26/10/1995	26/10/1995	-	Active	NO
13	U92110MH1997PTC104951	MODI FILMS ENTERPRISES PRIVATE LIMITED	Director	08/01/1997	08/01/1997	-	Strike off	NO
14	U92113DL1997PTC085957	MODI ENTERTAINERS NETWORKS PVT LTD	Director	19/03/1997	19/03/1997	-	Strike off	NO
15	U74899DL1994PLC060724	MODI REACH FINANCE AND INVESTMENT (INDIA) LIMITED	Director	27/08/1997	27/08/1997	-	Amalgamated	NO
16	U67120DL1979PTC114042	INDO EURO INVESTMENT COMPANY PRIVATE LIMITED	Director	18/03/2000	18/03/2000	-	Amalgamated	NO
17	U72200DL1973PLC110617	MODI CARE LIMITED	Director	18/03/2000	18/03/2000	-	Active	NO
18	U29309DL1983PLC016948	MODERN HOME CARE PRODUCTS LIMITED	Director	30/03/2000	30/03/2000	-	Active	NO
19	U67120UP1980PTC004955	TOUCH WOOD INVESTMENT PRIVATE LIMITED	Director	25/05/2000	25/05/2000	-	Amalgamated	NO
20	U74899DL2000PLC106938	MEN INTERACTIVE NETWORK LIMITED	Director	24/07/2000	24/07/2000	-	Active	NO
21	U72900MH2000PTC129737	JUNIORBUZZ.COM INDIA PRIVATE LIMITED	Director	24/11/2000	24/11/2000	-	Strike off	NO
22	U72200MH2000PTC124841	CRICLIVE COM INDIA PRIVATE LIMITED	Director	31/08/2001	31/08/2001	-	Active	NO
23	U80302DL2001PTC113471	MODI APOLLO INTERNATIONAL GROUP PRIVATE LIMITED	Director	14/12/2001	14/12/2001	-	Active	NO
24	U74140MH2001PTC132192	MARKETING AND BRAND SOLUTIONS (INDIA) PRIVATE LIMITED	Director	04/07/2003	04/07/2003	-	Amalgamated	NO
25	U24297UP1992PTC014505	AMBER CHEMICALS PRIVATE LIMITED	Director	27/11/2004	27/11/2004	-	Active	NO
26	L51909DL1985PLC021077	PREMIUM MERCHANTS LIMITED	Director	27/04/2005	27/04/2005	-	Active	NO
27	U74999DL1996PTC080090	KKM MANAGEMENT CENTRE PRIVATE LIMITED	Director	19/07/2005	19/07/2005	04/11/2010	Active	NO
28	U72200DL2006PTC152685	EUROPOWER TECHNO-SYSTEMS PRIVATE LIMITED	Director	29/08/2006	29/08/2006	-	Strike off	NO
29	U65993DL1979PLC010060	GOOD INVESTMENTS(INDIA)LTD.	Director	10/08/2007	07/03/2007	-	Active	NO
30	U80903DL2009PTC196740	MODI ATI EDUCATION PRIVATE LIMITED	Director	23/01/2010	08/12/2009	-	Active	NO
31	U74999MH2007PTC168696	DORUKA DESIGNS PRIVATE LIMITED	Director	14/05/2010	14/05/2010	-	Active	NO
32	U92132MH2001PTC134159	FASHION TELEVISION INDIA PRIVATE LIMITED	Director	27/03/2011	27/03/2011	-	Active	NO
33	U92100MH2005PTC155785	VOYAGES ENTERTAINMENT PRIVATE LIMITED	Director	27/03/2011	27/03/2011	-	Active	NO
34	U24233GJ2011PTC065293	INDO BAIJIN CHEMICALS PRIVATE LIMITED	Additional director	30/05/2011	30/05/2011	-	Active	NO

Name :

Mr. Charu Bhartia

Designation :

Whole-time director

Address :

A- 1, Maharani Bagh, New Delhi-110 065, India

Date of Birth/Age :

28.10.1962

Qualification :

B. Com

Date of Appointment :

01.04.2009

DIN No.:

00029625

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	U67120UP1980PTC004955	TOUCH WOOD INVESTMENT PRIVATE LIMITED	Director	09/08/1982	09/08/1982	-	Amalgamated	NO
2	U67120DL1979PTC114042	INDO EURO INVESTMENT COMPANY PRIVATE LIMITED	Director	18/03/2000	18/03/2000	-	Amalgamated	NO
3	U72200DL1973PLC110617	MODI CARE LIMITED	Director	18/03/2000	18/03/2000	-	Active	NO
4	U74899DL1995PLC064964	MODI ENTERTAINMENT LIMITED	Director	29/03/2000	29/03/2000	-	Active	NO
5	U29309DL1983PLC016948	MODERN HOME CARE PRODUCTS LIMITED	Director	30/03/2000	30/03/2000	-	Active	NO
6	U74899DL1994PLC060724	MODI REACH FINANCE AND INVESTMENT (INDIA) LIMITED	Director	30/03/2000	30/03/2000	-	Amalgamated	NO
7	U74899DL2000PLC106938	MEN INTERACTIVE NETWORK LIMITED	Director	07/08/2000	07/08/2000	-	Active	NO
8	U74999DL2001PTC113262	MODI HEALTHCARE PLACEMENT INDIA PRIVATE LIMITED	Director	23/11/2001	23/11/2001	16/07/2007	Active	NO
9	U80302DL2001PTC113471	MODI APOLLO INTERNATIONAL GROUP PRIVATE LIMITED	Managing director	14/12/2001	14/12/2001	-	Active	NO
10	U65993DL2001PTC113464	CHARU INVESTMENTS PRIVATE LIMITED	Director	28/12/2001	28/12/2001	-	Active	NO
11	U24110MH1993PLC070713	INDOFIL INDUSTRIES LIMITED	Whole-time director	01/04/2009	27/07/2002	-	Active	NO
12	U74140MH2001PTC132192	MARKETING AND BRAND SOLUTIONS (INDIA) PRIVATE LIMITED	Director	04/07/2003	04/07/2003	-	Amalgamated	NO
13	U74999DL1996PTC080090	KKM MANAGEMENT CENTRE PRIVATE LIMITED	Director	19/07/2005	19/07/2005	14/12/2010	Active	NO
14	L65993UP1965PLC003082	MODIPON LIMITED	Director	01/08/2005	01/08/2005	25/01/2007	Active	NO
15	U65101DL1992PTC049846	K K MODI INVESTMENT AND FINANCIAL SERVICES PRIVATE LIMITED	Director	30/09/2008	11/03/2008	-	Active	NO
16	U80903DL2009PTC196740	MODI ATI EDUCATION PRIVATE LIMITED	Director	30/05/2011	23/01/2010	-	Active	NO

Name :

Mr. Jayaraman Ramachandran

Designation :

Director

Address :

417, Faculty Quarters, Indian Institute of Management, Bannerghatta, Bangalore-560076, Karnataka, India

Date of Birth/Age :

01.06.1957

Qualification :

B. Com

Date of Appointment :

17.08.2007

DIN No.:

00004593

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	U74300KA1998PTC024546	INTEGRATED BRAND.COMM. PRIVATE LIMITED	Director	18/12/1998	18/12/1998	28/06/2012	Active	NO
2	U85110MH1998PLC226134	INDUS-LEAGUE CLOTHING LIMITED	Director	17/04/1999	17/04/1999	15/02/2008	Active	NO
3	L72100KA1989PLC014226	SASKEN COMMUNICATION TECHNOLOGIES LIMITED	Director	15/06/2000	15/06/2000	-	Active	NO
4	U51397DL2005PTC190519	LIFETIME HEALTHCARE PRIVATE LIMITED	Director	01/04/2005	01/04/2005	21/11/2008	Amalgamated	NO
5	U64203MH1997PLC166329	RELIANCE COMMUNICATIONS INFRASTRUCTURE LIMITED	Director	26/06/2005	26/06/2005	16/08/2010	Active	NO
6	U40101KA1986PLC007404	BHORUKA POWER CORPORATION LIMITED	Director	08/12/2005	08/12/2005	26/03/2013	Active	NO
7	L45309MH2004PLC147531	RELIANCE COMMUNICATIONS LIMITED	Director	17/07/2007	07/02/2006	-	Active	NO
8	L52599TN1961PLC028758	REDINGTON (INDIA) LIMITED	Director	21/11/2006	21/11/2006	-	Active	NO
9	U24239MH2001PTC131153	ACCUTEST RESEARCH LABORATORIES INDIA PRIVATE LIMITED	Director	31/10/2007	12/12/2006	12/03/2008	Active	NO
10	U24110MH1993PLC070713	INDOFIL INDUSTRIES LIMITED	Director	17/08/2007	06/04/2007	-	Active	NO
11	U72900KA2000PLC026980	TEJAS NETWORKS LIMITED	Director	03/08/2007	26/04/2007	21/06/2012	Active	NO
12	U35204KA1996PTC020766	ADITYA AUTO PRODUCTS AND ENGINEERING (INDIA) PVT LTD	Director	30/09/2008	30/09/2008	-	Active	NO
13	L72200AP1991PLC013134	INFOTECH ENTERPRISES LIMITED	Director	01/07/2009	17/11/2008	18/07/2012	Active	NO
14	U65999TN2005PLC069447	EASYACCESS FINANCIAL SERVICES LIMITED	Director	16/06/2010	21/05/2010	-	Active	NO
15	U67190KA2000PTC043651	AQUARIUS INVESTMENT ADVISORS (INDIA) PRIVATE LIMITED	Additional director	24/10/2012	24/10/2012	-	Active	NO
16	L63010MH2004PLC073508	ALLCARGO LOGISTICS LIMITED	Director	08/08/2013	14/04/2013	-	Active	NO
17	U85110KA1992GOI013570	ANTRIX CORPORATION LIMITED	Director	10/06/2013	10/06/2013	-	Active	NO
18	U72900MH2001PLC131598	RELIANCE INFRATEL LIMITED	Director	30/09/2013	30/08/2013	-	Active	NO

Name :

Mr. Mahendra Naranji Thakkar

Designation :

Director

Address :

133/134, Chandramani, 7^th Floor, Telang X Road No.3, Matunga, Mumbai-400019, Maharashtra, India

Date of Birth/Age :

17.10.1941

Qualification :

B. Com

Date of Appointment :

17.08.2007

DIN No.:

00268818

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	U27310AP1985PLC005423	SAMKRG PISTONS AND RINGS LIMITED	Director	06/11/1998	06/11/1998	-	Active	NO
2	U24110MH1993PLC070713	INDOFIL INDUSTRIES LIMITED	Director	17/08/2007	06/04/2007	-	Active	NO
3	L24230MH1984PLC034771	BLISS GVS PHARMA LIMITED	Director	31/07/2007	31/07/2007	31/01/2011	Active	NO
4	L85110KA1986PLC008020	BANGALORE SOFTSELL LIMITED	Director	30/09/2008	29/10/2007	-	Active	NO
5	U99999MH1964PLC012913	HALDYN CORPORATION LIMITED	Director	29/09/2012	30/05/2012	-	Active	NO
6	U65923MH2012PTC238444	MRIYOG INVESTMENTS PRIVATE LIMITED	Director	03/12/2012	03/12/2012	-	Active	NO

Name :

Mr. Sunil Kumar Alagh

Designation :

Director

Address :

12 C, IL Palazzo, Little GIBBS Road, Malabar Hill, Mumbai-400006, Maharashtra, India

Date of Birth/Age :

06.11.1946

Qualification :

B. Com

Date of Appointment :

17.08.2007

DIN No.:

00103320

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	U74999MH2003PTC142685	SKA ADVISORS PRIVATE LIMITED	Director	15/10/2003	15/10/2003	-	Active	NO
2	L63011AP1995PLC020121	GATI LIMITED	Director	22/04/2004	22/04/2004	-	Active	NO
3	L36999KA1999PLC025195	UNITED BREWERIES LIMITED	Director	29/04/2005	29/04/2005	-	Active	NO
4	U67190MH2004PTC146677	TAMARA CAPITAL ADVISORS PRIVATE LIMITED	Director	30/04/2005	30/04/2005	29/12/2010	Active	NO
5	U67120MH1997PLC110386	HSBC INVESTDIRECT (INDIA) LIMITED	Director	25/07/2006	11/10/2005	29/09/2008	Active	NO
6	U72900DL2006PTC144396	EON PREMEDIA PRIVATE LIMITED	Director	10/08/2006	10/08/2006	14/01/2011	Active	NO
7	U15421RJ1945SGC000285	RAJASTHAN STATE GANGANAGAR SUGAR MILLS LIMITED	Director	11/09/2006	11/09/2006	24/12/2008	Active	NO
8	U24110MH1993PLC070713	INDOFIL INDUSTRIES LIMITED	Director	17/08/2007	06/04/2007	-	Active	NO
9	U60232AP2008PLC057692	GATI IMPORT EXPORT TRADING LIMITED	Director	09/12/2011	28/12/2010	-	Active	NO

Name :

Mr. Munesh Khanna

Designation :

Director

Address :

Beachwood House, Ground Floor, Jussawala Wadi, Juhu, Mumbai - 400049, Maharashtra, India

Date of Birth/Age :

12.05.1962

Qualification :

B. Com

Date of Appointment :

17.08.2007

DIN No.:

00202521

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	U24110MH1993PLC070713	INDOFIL INDUSTRIES LIMITED	Director	17/08/2007	06/04/2007	-	Active	NO
2	U51909MH2007PTC170716	LEADING AGE TRADING PRIVATE LIMITED	Director	01/09/2007	01/09/2007	01/09/2007	Active	NO
3	L17119GJ1931PLC000093	ARVIND LIMITED	Director	31/07/2008	27/10/2007	-	Active	NO
4	U67120MH1995PTC084237	CAPTION INVESTMENTS AND TRADING COMPANY PRIVATE LIMITED	Director	01/11/2007	01/11/2007	-	Active	NO
5	U65910GJ1993PLC020228	EDELWEISS FINANCIAL ADVISORS LIMITED	Director	29/09/2008	19/02/2008	25/05/2009	Active	NO
6	U45400MH2007PTC175585	YOUTH PROPERTIES PRIVATE LIMITED	Director	15/03/2008	15/03/2008	-	Active	YES
7	U24130MH1994PLC142451	GARWARE BESTRETCH LIMITED	Additional director	17/11/2008	17/11/2008	25/03/2009	Active	NO
8	U17113MH1975PLC018620	GARWARE ELASTOMERICS LIMITED	Additional director	17/11/2008	17/11/2008	25/03/2009	Active	NO
9	U65999MH2009PTC189564	RESONUS ADVISORS PRIVATE LIMITED	Director	14/01/2009	14/01/2009	-	Active	NO
10	U18101GJ2007PLC050217	ARVIND RETAIL LIMITED	Director	24/09/2010	31/10/2009	-	Amalgamated	NO
11	U64201GJ1995PLC024598	ARVIND LIFESTYLE BRANDS LIMITED	Director	24/09/2010	31/10/2009	-	Active	NO
12	U65999MH2010FTC208856	ASHMORE-CENTRUM INDIA OPPORTUNITIES INVESTMENT ADVISERS PRIVATE LIMITED	Director	11/10/2010	11/10/2010	15/12/2011	Active	NO
13	U85191MH2011NPL216343	SOLUTIONS INDIA FOR SOCIAL DEVELOPMENT	Director	16/04/2011	16/04/2011	-	Active	NO

Name :

Mr. Sanjay Ramakant Buch

Designation :

Director appointed in casual vacancy

Address :

7/31, Bandra Sona Housing Complex, Krishnachandra Marg, Bandra (West), Mumbai-400050, Maharashtra, India

Date of Birth/Age :

26.09.1968

Qualification :

B. Com

Date of Appointment :

11.08.2009

DIN No.:

00391436

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	U24246AP1989PTC010416	SS ORAL HYGIENE PRODUCTS PRIVATE LIMITED	Director	03/12/1999	03/12/1999	-	Amalgamated	NO
2	L99999MH1951PLC008485	DIL LIMITED	Director	14/09/2007	28/04/2007	-	Active	NO
3	U99999MH1993PTC074256	AGFA INDIA PRIVATE LIMITED	Director	27/11/2008	07/04/2008	18/01/2010	Amalgamated	NO
4	U72900MH2008FTC186575	EMHART TEKNOLOGIES (INDIA) PRIVATE LIMITED	Director	09/09/2008	09/09/2008	16/09/2010	Active	NO
5	U31409KA2008FTC047837	BLACK & DECKER INDIA PRIVATE LIMITED	Director	23/09/2008	23/09/2008	18/01/2010	Amalgamated	NO
6	U24110MH1993PLC070713	INDOFIL INDUSTRIES LIMITED	Director appointed in casual vacancy	11/08/2009	11/08/2009	-	Active	NO
7	U63090MH1983PTC161369	TRANSWAYS COMBINES PRIVATE LIMITED (TRF.)	Additional director	29/08/2009	29/08/2009	30/09/2009	Active	NO
8	U99999MH1986PLC134021	FERMENTA BIOTECH LIMITED	Director	27/09/2010	22/01/2010	-	Active	NO
9	U93000MH2010FTC211208	SEALCOM INDIA PRIVATE LIMITED	Director	22/12/2010	22/12/2010	-	Strike off	NO

Name :

Mr. Manoj Singh

Designation :

Nominee Director

Address :

D-306, Sector 47, Gautam Budh Nagar, Noida-201303, Uttar Pradesh, India

Date of Birth/Age :

03.12.1964

Date of Appointment :

06.06.2012

DIN No.:

03644955

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	U31200UP2003SGC027458	PASHCHIMANCHAL VIDYUT VITRAN NIGAM LIMITED	Managing director	02/09/2011	02/09/2011	02/04/2012	Active	NO
2	U26960UP1961SGC002834	U.P.STATE INDUSTRIAL DEVELOPMENT CORPORATION LIMITED	Managing director	26/05/2012	26/05/2012	-	Active	NO
3	U24110MH1993PLC070713	INDOFIL INDUSTRIES LIMITED	Nominee director	06/06/2012	06/06/2012	-	Active	NO
4	L65993UP1965PLC003082	MODIPON LIMITED	Nominee director	16/08/2012	16/08/2012	-	Active	NO
5	U40103UP2000SGC025310	UPSIDC POWER COMPANY LIMITED	Director	04/10/2012	04/10/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Chintamani D. Thatte
Designation :	Secretary
Address :	Laxmi Vilas Co-operative Housing Society, Flat No.401, Near Ghantali Mandir, Naurpada, Thane – 400 602, Maharashtra, India
Date of Birth/Age :	02.04.1965
PAN No.:	AABPT7409D

MAJOR SHAREHOLDERS

AS ON 20.09.2013

NOTE: SHAREHOLDER DETAILS FILE ATTACHED.

Equity Share Break up (Percentage of Total Equity)

AS ON 20.09.2013

Equity Shares Break Up	Percentage of Holding
Government companies	9.50
Public financial companies	1.44
Mutual funds	0.01
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	12.19
Bodies corporate	63.50
Directors or relatives of Directors	2.46
Other top fifty shareholders	3.02
Others	7.88
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Plastic Chemicals

Products :

Product Description	Item Code No. (ITC Code)
Pesticides	3808
Acrylic Emulsion	3906

PRODUCTION STATUS (AS ON 31.03.2011)

Particulars	Unit	Installed Capacity	Actual Production
Technicals ***	MT/KL	47000****	25576
Formulations	MT/KL	14540	7487
S and P Chemicals	MT/KL	13200	14023
Other Chemical Purchased	MT/KL	--	1283.00

Note:

*** The Installed capacities are as per the certificate given by the Management of the Company on which auditors have relied.

**** This Capacity includes Dahej Production capacity which commenced its commercial production in October 2010

GENERAL INFORMATION

No. of Employees :

900 (Approximately)

Bankers :

· Bank of Bahrain and Kuwait BSC 225, Jolly Maker Chambers II, Nariman Point, Mumbai – 400 099, Maharashtra, India

· Development Credit Bank Limited, 301, Trade Plaza, Veer Savarkar Marg, Prabhadevi, Mumbai – 400 025, Maharashtra, India

· Union Bank of India, Union Bank Bhavan, 239, Vidhan Bhavan Marg, Nariman Point, Mumbai – 400 021, Maharashtra, India

· The Hongkong and Shanghai Banking Corporation Limited 52/60, Mahatma Gandhi Road, Fort, Mumbai - 400001, Maharashtra, India

· Standard Chartered Bank, Standard Chartered Towers, 3rd Floor, 201B/1, Western Express Highway, Goregaon (East), Mumbai – 400 063, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Long Term Borrowings
Borrowings	2178.707	2724.478
Short Term Borrowings
Working Capital Loans from banks	4600.022	3578.626
Total	6778.729	6303.104

Banking Relations :	--
Financial Institutions :	L and T Finance Limited, L and T House, Ballard Estate, Mumbai – 400 001, Maharashtra, India
Auditors :
Name :	Bansi S. Mehta and Company Chartered Accountants
Address :	Botawala Building, 2^nd Floor, Horniman Circle, Fort, Mumbai – 400 001, Maharashtra, India
PAN No.:	AAAFB6405G
Associate Companies :	Hifil Chemicals Private Limited
Subsidiaries :	· Quick Investment (India) Limited · Good Investment (India) Limited
Promoter Group Companies :	· Godfrey Phillips India Limited · H .M.A. Udyog Private Limited · Modi Care Limited · Modi Entertainment Limited · Beacon Travels Private Limited · K.K. Modi Investment and Financial Services Private Limited · Bina Fashions N Food Private Limited · Premium Merchants Limited

CAPITAL STRUCTURE

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
44000000	Equity Shares	Rs. 10/- each	Rs.440.000 Millions
600000	Preference Shares	Rs. 100/- each	Rs.60.000 Millions
	Total		Rs.500.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
11807086	Equity Shares fully Paid up	Rs. 10/- each	Rs.118.071 Millions
8855314	Equity Shares fully Called up	Rs. 10/- each	Rs.88.553 Millions
	Less: Calls in Arrear		Rs.(0.022) Millions
	Total		Rs.206.602 Millions

AFTER 20.09.2013

Authorised Capital : Rs.500.000 Millions

Issued, Subscribed & Paid-up Capital : Rs. 202.741 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	206.602	202.741	179.991
(b) Reserves & Surplus	3293.180	2728.937	2207.203
(c) Money received against share warrants	0.000	0.000	0.000
	0
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	3499.782	2931.678	2387.194
(3) Non-Current Liabilities
(a) long-term borrowings	2178.707	2724.478	966.441
(b) Deferred tax liabilities (Net)	20.349	152.891	126.005
(c) Other long term liabilities	91.707	85.501	77.551
(d) long-term provisions	54.677	50.057	34.929
Total Non-current Liabilities (3)	2345.440	3012.927	1204.926
(4) Current Liabilities
(a) Short term borrowings	4600.022	3578.626	1957.164
(b) Trade payables	1725.475	1481.731	1676.001
(c) Other current liabilities	1301.287	762.470	573.486
(d) Short-term provisions	171.341	112.236	77.378
Total Current Liabilities (4)	7798.125	5935.063	4284.029
TOTAL	13643.347	11879.668	7876.149
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2358.458	2174.989	2233.058
(ii) Intangible Assets	3326.925	140.275	46.990
(iii) Capital work-in-progress	306.635	2957.793	266.204
(iv) Intangible assets under development	529.250	495.083	386.557
(b) Non-current Investments	450.090	453.732	223.182
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	85.249	103.193	63.757
(e) Other Non-current assets	14.038	10.281	6.253
Total Non-Current Assets	7070.645	6335.346	3226.001
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	1876.343	2041.518	1856.919
(c) Trade receivables	4096.718	2863.871	2414.293
(d) Cash and cash equivalents	197.639	170.485	15.255
(e) Short-term loans and advances	370.534	391.674	361.125
(f) Other current assets	31.468	76.774	2.556
Total Current Assets	6572.702	5544.322	4650.148
TOTAL	13643.347	11879.668	7876.149

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2013	31.03.2012	31.03.2011
	SALES
		Income		11243.701	9756.486	8205.342
		Other Income		53.963	73.752	5.488
		TOTAL (A)		11297.664	9830.238	8210.830
Less	EXPENSES
		Cost of Materials Consumed		5424.146	5235.994	4788.008
		Purchase of Stock-in-trade		639.592	390.009	314.338
		Changes in Inventories of finished goods, work-in-progress and stock-in-trade		197.396	(119.780)	(447.893)
		Employee Benefits Expenses		1017.981	817.529	624.176
		Other Expenses		2624.522	2287.044	1994.619
		TOTAL (B)		9903.637	8610.796	7273.248
Less	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			1394.027	1219.442	937.582
Less	FINANCIAL EXPENSES (D)			534.172	452.195	330.675
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			859.855	767.247	606.907
Less	DEPRECIATION/ AMORTISATION (F)			233.792	190.500	157.902
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)			626.063	576.747	449.005
Less	TAX (H)			2.959	142.211	43.266
	PROFIT/(LOSS) AFTER TAX (G-H) (I)			623.104	434.536	405.739
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD			1601.567	1274.931	964.704
Less	APPROPRIATIONS
			Proposed Dividend	72.300	63.000	47.270
			Tax on Dividend	12.300	1.400	7.668
			General Reserve	62.300	43.500	40.574
	BALANCE CARRIED TO THE B/S			2077.771	1601.567	1274.931
	EARNINGS IN FOREIGN CURRENCY
			Export of goods calculated on FOB basis	5004.078	3894.942	2632.071
	TOTAL EARNINGS			5004.078	3894.942	2632.071
	IMPORTS
			Raw Materials	2968.703	2864.403	2507.905
			Capital Goods	100.774	2501.911	24.732
			Spare Parts & Components	0.000	0.000	0.420
	TOTAL IMPORTS			3069.477	5366.314	2533.057
	Earnings Per Share (Rs.)			30.16	24.13	25.75

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	5.54	4.42	4.94
Net Profit Margin (PBT/Sales)	(%)	5.57	5.91	5.47
Return on Total Assets (PBT/Total Assets}	(%)	5.11	7.34	6.48
Return on Investment (ROI) (PBT/Networth)		0.18	0.20	0.19
Debt Equity Ratio (Total Debt /Networth)		1.94	2.15	1.22
Current Ratio (Current Asset/Current Liability)		0.84	0.93	1.09

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	Yes
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

NOTE: Registered office has been shifted from Nirlon House, Dr Annie Besant Road, Worli, Mumbai-400025, Maharashtra, India to the present address w.e.f. 01.10.2010

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10428319	31/08/2013 *	500,000,000.00	THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMI TED	52/60, MAHATMA GANDHI ROAD, FORT, MUMBAI – 400 001, MAHARASHTRA, INDIA	B85699684
2	10375981	13/09/2012	313,500,000.00	BANK OF BAHRAIN AND KUWAIT BSC	225, JOLLY MAKER CHAMBERS II, NARIMAN POINT, MUMBAI – 400 099, MAHARASHTRA, INDIA	B57908998
3	10374098	30/08/2012	100,000,000.00	THE SHAMRAO VITHAL COOPERATIVE BANK LIMITED	SVC TOWER, NEHRU ROAD, VAKOLA, SANTACRUZ (E), MUMBAI – 400 055, MAHARASHTRA, INDIA	B57094468
4	10361201	01/06/2012	270,000,000.00	DBS BANK LIMITED	UPPER GROUND FLOOR, BIRLA TOWER, 26, BARAMKHAMBHA ROAD, NEW DELHI – 110 001, INDIA	B41776360
5	10367167	01/06/2012	299,700,000.00	BARCLAYS BANK PLC	CEEJAY HOUSE, SHIVSAGAR ESTATE, DR.A.B.ROAD, WORLI, MUMBAI – 400 018, MAHARASHTRA, INDIA	B44374379
6	10359536	01/06/2012	810,000,000.00	STANDARD CHARTERED BANK	23, NARAIN MANZIL, BARAKHAMBA ROAD, NEW DELHI – 110 001, INDIA	B41162512
7	10350631	01/06/2012 *	500,000,000.00	L & T FINANCE LIMITED	L & T HOUSE, BALLARD ESTATE, MUMBAI – 400 001, MAHARASHTRA, INDIA	B42115303
8	10340366	23/02/2012	500,000,000.00	EXPORT IMPORT BANK OF INDIA	CENTRE ONE BUILDING, FLOOR 21, WORLD TRADE CENTRE COMPLEX, CUFFE PARADE, MUMBAI – 400 005, MAHARASHTRA, INDIA	B34209973
9	10319718	09/11/2011	5,694,900,000.00	UNION BANK OF INDIA	IFB, IST FLOOR, UNION BANK BHAVAN, 239, VIDHAN BHAVAN MARG, NARIMAN POINT, MUMBAI – 400 021, MAHARASHTRA, INDIA	B26094508
10	10253687	01/10/2010	120,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI – 400 013, MAHARASHTRA, INDIA	A99201337

* Date of charge modification

OPERATIONS:

Production of Agrochemicals Division for the year has been 43,258 MT as against 42,768 MT in the previous year and sales have been 45,291MT against 41,841 MT in the previous year.

In case of Specialty Chemicals Division, the production has been 17,115 MT as against 13,347 MT in the previous year and the sales have been 17,268 MT against 13,306 MT in the previous year.

OUTLOOK:

After witnessing below average rains in 2012, India is all set to receive normal rains in 2013, strengthening the prospects of a plentiful farm output. An encouraging beginning of monsoons in June along with a smooth progress of southwest monsoon has raised hopes of a bumper Kharif harvest in the coming season. This has further raised expectations of the entire industry which has been going slow since last few years.

Subject is all geared up not only to extract maximum from this positive seasonal outlook in domestic scene but also ensuring dedicated efforts to make the first complete year sales for Eureka, post-acquisition. Geographic Expansion in S. America, Brazil & Russia and achieving full potential of Offices in China/ Bangladesh are among the strategic imperatives Indofil is looking at besides increasing the product portfolio.

SPECIALTY AND PERFORMANCE CHEMICALS DIVISION:

INDUSTRY SCENARIO

The specialty chemicals industry in India continues to grow, albeit at a more modest pace, given the general economic slowdown. Key themes going forward would be the increased focus and attention on Sustainability as a growth enabler. Reduced consumption of energy, water and concern for the environment would be key drivers of innovation in the field of Specialty Chemicals, going forward.

FIXED ASSETS:

· Land - Freehold

· Land – Leasehold

· Factory Buildings

· Non – Factory Buildings

· Plant and Machinery

· Other Plant Equipment

· Furniture and Fixture

· Vehicles

· Office and Other Equipment

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.63.30
UK Pound	1	Rs.101.36
Euro	1	Rs.84.60

INFORMATION DETAILS

Report Prepared by :

NKT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		54

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.