MIRA INFORM REPORT

Report Date :

01.10.2013

IDENTIFICATION DETAILS

Name :	PRATAAP SNACKS PRIVATE LIMITED
Registered Office :	Khasra No. 378/2, Nemawar Road, Near Makrand House, Indore - 452020, Madhya Pradesh
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	23.03.2009
Com. Reg. No.:	10-021746
Capital Investment / Paid-up Capital :	Rs.11.137 Millions
CIN No.: [Company Identification No.]	U15311MP2009PTC021746
TAN No.: [Tax Deduction & Collection Account No.]	BPLP03903E
PAN No.: [Permanent Account No.]	AAFCP0210P
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Different Types Namkins and Potato Based Snacks.
No. of Employees :	Not Available

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 4070000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well established company having a good track record. Profit margin of the company appears to be good. Trade relations are reported as fair. Business is active. Payments are reported as regular and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions.

NOTES :

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

ECGC Country Risk Classification List – 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

We are living in a world where volatility and uncertainty have become the New Normal. We saw a change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once powerful countries in Europe are now fighting for bankruptcy. We have taken growth in the developing part of the world for granted but economic growth in China and India has begun to slow. Companies that were synonymous with their product categories just a few years ago are now no longer in existence. Kodak, the inventor of the digital camera had to wind up its operations, HMV, the British entertainment retailing company and Borders, once the second largest bookstore have shut down due to their inability to evolve their business models with the changing time. Readers’ Digest, Thomson Register are no more !

There is another megatrend happening. The World order is changing as economic power shifts from West to East. According to McKinsey study, it took Britain more than 100 years to double its economic output per person during its industrial revolution and the US later took more than 50 years to do the same. More than a century later, China and India have doubled their GDP per capital in 12 and 18 years respectively. By 2020, emerging Asia will become the world’s largest consuming block, overtaking North America.

The years after the outbreak of the global financial crisis, the world economy continues to remain fragile. The Indian economy demonstrated remarkable resilience in the initial years of the contagion but finally lost ground last year. GDP growth slowed down. Currency has been weakening. There is a marked deceleration in agriculture, industry and services. Dampening sentiment led to a cut-back in investment as well as private consumption expenditure.  Inflation remained at high levels fuelled by the pressure from the food and fuel sectors. The large fiscal and current account deficit s continued to cause grave concern. It is imperative that India regains its growth trajectory of 8-9 % sooner than later. This is crucially important given the need to create gainful livelihood opportunities for the millions living in poverty as also the large contingent of young people joining the job market every year.

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	Term loans
Rating Explanation	Adequate degree of safety and carry low credit risk.
Date	February, 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 :	Khasra No. 378/2, Nemawar Road, Near Makrand House, Indore - 452020, Madhya Pradesh, India
Tel. No.:	91-731-3249200/ 3269200
Fax No.:	Not Available
E-Mail :	diamondsdco@gmail.com rajendrasoni588@gmail.com
Branch Office :	UG-21 BCM Heights, Near Bombay Hospital, Scheme NO.54, Indore-452001, Madhya Pradesh, India

DIRECTORS

As on: 26.09.2012

Name :

Mr. Arvind Mehta

Designation :

Director

Address :

3, Janki Nagar Extension, A.B. Road, Indore-454001, Madhya Pradesh, India

Date of Birth/Age :

31.08.1967

Date of Appointment :

30.09.2011

PAN No.:

ABIPM2323C

DIN No.:

00215183

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	U24132MP1994PTC008407	SWASTIK PLASTICIZER AND PVC PIPES INDORE PRIVATE LIMITED	Director	15/06/1994	15/06/1994	31/03/2008	Active	NO
2	U45203MP1997PTC011855	ORANGE INFRACON PRIVATE LIMITED	Director	28/04/1997	28/04/1997	-	Active	NO
3	U45201MH2001PTC132797	BCM REALTY PRIVATE LIMITED	Director	19/07/2001	19/07/2001	-	Active	NO
4	U15316MH2002PTC180293	PRAKASH SNACKS PRIVATE LIMITED	Director	19/12/2002	19/12/2002	-	Active	NO
5	U15311MP2009PTC021746	PRATAAP SNACKS PRIVATE LIMITED	Director	30/09/2011	12/05/2011	-	Active	NO
6	U15440MP2011PTC027377	PURE N SURE FOOD BITES PRIVATE LIMITED	Director	27/12/2011	27/12/2011	-	Active	NO

Name :

Mr. Ganapathyagraharam Venkataraman Ravishankar

Designation :

Director

Address :

17A, ETA Binny Crescent Apartments, Benson Cross Road, Benson Town, Bangalore – 560046, Karnataka, India

Date of Birth/Age :

04.04.1978

Date of Appointment :

30.09.2011

DIN No.:

02604007

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	U65921TZ1994PLC005299	MANAPPURAM FINANCE TAMIL NADU LIMITED	Alternate director	31/07/2009	31/07/2009	-	Amalgamated	NO
2	L65910KL1992PLC006623	MANAPPURAM FINANCE LIMITED	Alternate director	31/07/2009	31/07/2009	11/05/2010	Active	NO
3	U71110DL2000PTC189230	CARZONRENT (INDIA) PRIVATE LIMITED	Alternate director	15/04/2010	15/04/2010	28/10/2010	Active	NO
4	U80101AP2010PTC067690	K12 TECHNO SERVICES PRIVATE LIMITED	Nominee director	20/08/2010	20/08/2010	-	Active	NO
5	U65922HR1998PLC042782	INDIA SHELTER FINANCE CORPORATION LIMITED	Director	30/09/2010	28/08/2010	-	Active	NO
6	U65999KA2000PTC033945	SEQUOIA CAPITAL INDIA ADVISORS PRIVATE LIMITED	Managing director	04/02/2011	04/02/2011	-	Active	NO
7	U63040KA2007PTC041672	FLIGHT RAJA TRAVELS PRIVATE LIMITED	Alternate director	09/02/2011	09/02/2011	09/02/2012	Active	NO
8	U15311MP2009PTC021746	PRATAAP SNACKS PRIVATE LIMITED	Director	30/09/2011	12/05/2011	-	Active	NO
9	U85191WB2010PTC151530	GLOCAL HEALTHCARE SYSTEMS PRIVATE LIMITED	Director	04/08/2011	04/08/2011	-	Active	NO
10	U93000PN2010PTC136943	FAASO'S FOOD SERVICES PRIVATE LIMITED	Director	28/09/2012	22/11/2011	-	Active	NO
11	U15440MP2011PTC027377	PURE N SURE FOOD BITES PRIVATE LIMITED	Director	27/12/2011	27/12/2011	-	Active	NO
12	U72200OR2004PTC007691	EDUSYS SERVICES PRIVATE LIMITED	Alternate director	17/02/2012	17/02/2012	-	Active	NO
13	U85110MH2002PTC136144	SUBURBAN DIAGNOSTICS (INDIA) PRIVATE LIMITED	Additional director	06/11/2012	06/11/2012	-	Active	NO

Name :

Mr. Amit Kumar Kumath

Designation :

Director

Address :

14, Gulab Par, Mahesh Nagar, Malhar Ganj, Indore-452003, Madhya Pradesh, India

Date of Birth/Age :

04.10.1969

Date of Appointment :

30.09.2011

DIN No.:

02663687

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	U01513MP1994PLC008576	HELLO AGRO FOOD PRODUCTS LIMITED	Director	14/09/1994	14/09/1994	01/07/2007	Active	NO
2	U15311MP2009PTC021746	PRATAAP SNACKS PRIVATE LIMITED	Director	30/09/2011	12/05/2011	-	Active	NO
3	U15440MP2011PTC027377	PURE N SURE FOOD BITES PRIVATE LIMITED	Director	27/12/2011	27/12/2011	-	Active	NO

Name :

Mr. Bharadwaj Thiruvenkata Venkatavaraghavan

Designation :

Director

Address :

702, Orchid Tower-A, 241/242, Bellasis Road, Mumbai Central, Mumbai-400008, Maharashtra, India

Date of Birth/Age :

26.06.1978

Date of Appointment :

30.09.2011

DIN No.:

02918495

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	U85110TN2007PTC064072	VASAN HEALTH CARE PRIVATE LIMITED	Nominee director	18/12/2009	18/12/2009	-	Active	NO
2	U74899DL1995PTC065388	DR. LAL PATHLABS PRIVATE LIMITED	Alternate director	02/08/2010	02/08/2010	25/04/2011	Active	NO
3	U65999KA2000PTC033945	SEQUOIA CAPITAL INDIA ADVISORS PRIVATE LIMITED	Managing director	04/02/2011	04/02/2011	-	Active	NO
4	U24232AP2001PLC036097	CELON LABORATORIES LIMITED	Nominee director	03/11/2011	15/02/2011	24/01/2013	Active	NO
5	U15311MP2009PTC021746	PRATAAP SNACKS PRIVATE LIMITED	Director	30/09/2011	12/05/2011	-	Active	NO
6	U24239AP2002PLC038581	SWYZER LABORATORIES LIMITED	Director	19/09/2011	06/08/2011	-	Amalgamated	NO
7	L17110MH1987PLC044835	LOVABLE LINGERIE LIMITED	Nominee director	22/09/2011	22/09/2011	-	Active	NO
8	U72200KA1998PTC024536	TRIBI SYSTEMS PRIVATE LIMITED	Director	29/09/2012	05/10/2011	-	Active	NO
9	U15440MP2011PTC027377	PURE N SURE FOOD BITES PRIVATE LIMITED	Director	27/12/2011	27/12/2011	-	Active	NO
10	U51311DL1998PTC097184	GENESIS COLORS PRIVATE LIMITED	Director	31/08/2012	28/02/2012	-	Active	NO
11	U51311PB2001PLC024753	COTTON COUNTY RETAIL LIMITED	Nominee director	27/06/2012	27/06/2012	14/08/2012	Active	NO
12	U85110MH2002PTC136144	SUBURBAN DIAGNOSTICS (INDIA) PRIVATE LIMITED	Additional director	06/11/2012	06/11/2012	-	Active	NO
13	U15549HR2009PTC039586	HECTOR BEVERAGES PRIVATE LIMITED	Additional director	20/12/2012	20/12/2012	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 26.09.2012

Names of Shareholders	No. of Equity Shares
Rajesh Mehta	29500
Naveen Mehta	29500
Ajay Kumar Ostwal	1200
Sudhalsta Ostwal	4319
Abhishek Ostwal	1200
Premlata Kumar	7250
Sudhir Kumat	7150
Swali Bapna	5000
Arvind Mehla	20050
Arun Mehta	19450
Rakhee Kumat	2300
Akshay Jain	1200
P Gyanchand Chordia	2750
Lata Kavur	3250
Kanta Mehta	9250
Apoorva Kumat	15000
Rita Mehta	9800
Amit Kumath	15200
Sandhya Kumat	2700
Pawan Chordia	900
R. Premchand Chordia	500
Sequoia Capital GF IV, Mauritius	52267
SO Growth Investment II, Mehta	68264
Total	308000

Names of Shareholders	No. of Preference Shares
SCI Growth Investments II, Mauritius	80574
Total	80574

As on: 13.02.2013

Names of Allottees	No. of Preference Shares
Sequoia Capital GFIV Mauritius Investments, Mauritius	4480
SCI Growth Investments II, Mauritius	15971
Total	20451

Equity Share Break up (Percentage of Total Equity)

As on: 26.09.2012

Category	Percentage
Bodies corporate	39.10
Directors or relatives of directors	11.40
Other top fifty shareholders	49.50
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Different Types Namkins and Potato Based Snacks.

Products :

Item Code No	15138
Product Description	Potato Based Snacks

Brand Names :

“Yellow Diamond”

PRODUCTION STATUS (AS ON 31.03.2011)

Particulars	Unit	Licensed Capacity	Installed Capacity
Potato Chips Plant	MT (Per Annum)	6000	6000
Extruded Snacks	MT (Per Annum)	6000	3000

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• State Bank of India, Commercial Branch, A.B. Road (Near Gop), Indore-452001, Madhya Pradesh, India
• Central Bank of India, Mid Corporate Branch, 2^nd Floor, Palika Plaza, Phase-I, MTH Compound, Indore-452001, Madhya Pradesh, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
LONG-TERM BORROWINGS
Rupee term loans from bank	0.000	119.754
SHORT- TERM BORROWINGS
Rupee term loans from banks	0.000	27.890
Loans repayable on demand from others	0.000	1.000
Total	0.000	148.644

Banking Relations :	--
Auditors :
Name :	S.R. Batliboi and Associates Chartered Accountants
Address :	16 Floor, The Ruby, 2 9 Senapatibapat Marg, Dadar West, Mumbai, Maharashtra, India
PAN No.:	AABFS3421N
Related Parties :	Prakash Snacks Private Limited CIN No.: U15316MH2002PTC180293
Subsidiary Company :	Pure N Sure Food Bites Private Limited CIN No.:U15440MP2011PTC027377

CAPITAL STRUCTURE

After: 26.09.2012

Authorised Capital : Rs.15.110 Millions

Issued, Subscribed & Paid-up Capital : Rs.13.182 Millions

As on: 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs.10/- each	Rs.5.000 Millions
80600	Preference Shares	Rs.100/- each	Rs.8.060 Millions
	Total		Rs.13.060 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
308000	Equity Shares	Rs.10/- each	Rs.3.080 Millions
80574	Preference Shares	Rs.100/- each	Rs.8.057 Millions
	Total		Rs.11.137 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	11.137	3.080
(b) Reserves & Surplus	1007.514	64.103
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	1018.651	67.183
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	119.754
(b) Deferred tax liabilities (Net)	13.543	11.271
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	1.241	0.000
Total Non-current Liabilities (3)	14.784	131.025
(4) Current Liabilities
(a) Short term borrowings	0.000	28.890
(b) Trade payables	155.364	36.153
(c) Other current liabilities	34.854	34.942
(d) Short-term provisions	2.580	4.825
Total Current Liabilities (4)	192.798	104.810
TOTAL	1226.233	303.018
ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	633.046	217.877
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	31.610	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.098	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	63.250	1.391
(e) Other Non-current assets	2.775	0.032
Total Non-Current Assets	730.779	219.300
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	254.230	49.568
(c) Trade receivables	52.504	28.998
(d) Cash and cash equivalents	141.652	0.192
(e) Short-term loans and advances	30.269	4.840
(f) Other current assets	16.799	0.120
Total Current Assets	495.454	83.718
TOTAL	1226.233	303.018

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		2.010
2] Share Application Money		15.000
3] Reserves & Surplus		17.290
4] (Accumulated Losses)		(5.942)
NETWORTH		28.358
LOAN FUNDS
1] Secured Loans		104.212
2] Unsecured Loans		27.739
TOTAL BORROWING		131.951
DEFERRED TAX LIABILITIES		6.189
TOTAL		166.498
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		144.794
Capital work-in-progress		0.000
INVESTMENT		0.000
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	35.987
	Sundry Debtors	0.917
	Cash & Bank Balances	0.135
	Other Current Assets	0.000
	Loans & Advances	5.017
Total Current Assets		42.056
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	18.904
	Other Current Liabilities	1.535
	Provisions	0.050
Total Current Liabilities		20.489
Net Current Assets		21.567
MISCELLANEOUS EXPENSES		0.137
TOTAL		166.498

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Sales		466.326	17.224
		Other Income		0.024	0.283
		TOTAL	1732.888	466.350	17.507
Less	EXPENSES
		Cost of Materials		334.202	11.618
		Manufacturing Expenses		43.964	2.708
		Employees Remuneration		3.895	0.754
		Selling and Distribution Expenses		30.124	1.002
		Preliminary Expenditure Written off		0.015	0.015
		Administrative Expenses		0.360	0.070
		TOTAL	1544.696	412.560	16.167
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		188.192	53.790	1.340
Less	FINANCIAL EXPENSES		8.826	13.078	0.223
	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		179.366	40.712	1.117
Less/ Add	DEPRECIATION/ AMORTISATION		28.726	6.450	0.821
Add	Past Year Adjustment		0.000	0.002	0.000
	PROFIT/ (LOSS) BEFORE TAX		150.640	34.264	0.296
Less	TAX		32.046	12.539	6.238
	PROFIT/ (LOSS) AFTER TAX		118.594	21.725	(5.942)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		15.783	(5.942)	0.000
	BALANCE CARRIED TO THE B/S		134.377	15.783	(5.942)
	IMPORTS
		Machinery		15.796	5.077
		Raw Material		0.272	2.334
	TOTAL IMPORTS		NA	16.068	7.411
	Earnings Per Share (Rs.)		305.20	7.53	(29.56)

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	6.84	4.66	(33.94)
Net Profit Margin (PBT/Sales)	(%)	NA	7.35	1.71
Return on Total Assets (PBT/Total Assets}	(%)	12.61	11.31	0.16
Return on Investment (ROI) (PBT/Networth)		0.15	0.51	0.01
Debt Equity Ratio (Total Debt/Networth)		0.00	2.21	4.65
Current Ratio (Current Asset/Current Liability)		2.57	0.80	2.05

LOCAL AGENCY FURTHER INFORMATION

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

Note:

The Registered office of the company has been shifted from UG-21 BCM Heights, Near Bombay Hospital, Scheme No.54, Indore-452001, Madhya Pradesh, India to the present address w.e.f. 02.08.2011

BUSINESS OVERVIEW:

The Company is a food processing industry engaged in the business of processing, manufacturing and sales of different types of Potato based Snacks, Extruded Snacks and Namkeen under the brand name of Yellow Diamond. The activity of Company is broadly classified under two divisions namely Potato Chips Division and Extruded Snacks and Namkeen Division. The working performance of each division is as under:-

POTATO CHIPS DIVISION:

During the year chips division performed exceptionally well and contributed Rs. 968.738 Millions towards Company’s turnover.

EXTRUDED SNACKS DIVISION:

During the year Extruded Snacks (Chulbule, Puff and Rings) division performed exceptionally well and contributed Rs.693.448 Millions towards Company’s turnover.

NAMKEEN DIVISION:

During the year Namkeen division performed well and contributed Rs. 59.631 Millions towards Company’s turnover.

OVERALL PERFORMANCE:

The Company has taken over the business of M/s. Prakash Snacks Private Limited (transferor company), a group company, on a going concern basis. As per the business transfer agreement, the transferor company has transferred its entire business along with all assets and liabilities to the company with effect from 30 September 2011. The transferor company was also engaged in the same business line. The business combination is expected to channelize synergies and lead to better utilization of available resources and result in greater economies of scale.

The year has been a remarkable year, the turnover and other income of the Company has increased considerably from Rs.463.912 Millions in previous year to Rs. 1732.888 Millions for the year. The profit after tax has increased from Rs. 21.725 Millions in previous year to Rs. 118.594 Millions in current year. The directors are confident of achieving better result in the ensuing year.

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10351259	13/09/2012 *	410,000,000.00	Central Bank of India	MID CORPORATE BRANCH, 2ND FLOOR, PALIKA PLAZA, PHASE-I, MTH COMPOUND, INDORE, MADHYA PRADESH - 452007, INDIA	B59827261

* Date of charge modification

FIXED ASSETS

Tangible Assets

• Land
• Buildings
• Plant and Equipment
• Furniture and Fixtures
• Vehicles
• Office Equipment
• Computer 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.62.78
UK Pound	1	Rs.101.42
Euro	1	Rs.84.67

INFORMATION DETAILS

Report Prepared by :

VRN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
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	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		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.