MIRA INFORM REPORT

Report Date :

02.10.2013

IDENTIFICATION DETAILS

Name :	S M HERBALS PRIVATE LIMITED
Registered Office :	D-15, Defence Colony, 3^rd Floor, New Delhi – 110 024
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	31.12.1993
Com. Reg. No.:	55-221830
Capital Investment / Paid-up Capital :	Rs.5.776 Millions
CIN No.: [Company Identification No.]	U18101DL1993PTC221830
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Herbal Extracts and Phytochemicals.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 415000
Status :	Satisfactory
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a company having a satisfactory track record. There is dip in the profit of the company during 2012. The overall financial position of the company appears to be sound and healthy. However, trade relations are fair. Business is active. Payment terms are regular. The company can be considered for business dealings at usual trade terms and condition.

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.

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 :	D-15, Defence Colony, 3^rd Floor, New Delhi – 110 024, India
Tel. No.:	91-11-24624177/ 78
Fax No.:	91-11-24624179
E-Mail :	contact@smherbals.com smherbalsdelhi@gmail.com mukesh_agarwal3@rediffmail.com
Website :	www.smherbals.com
Factory :	A-1132, Riico Industrial Area, Bhiwandi, Alwar – 301 019, India
Tel. No.:	91-1493-222349

DIRECTORS

AS ON 29.09.2012

Name :

Priti Bader

Designation :

Director

Address :

B-7, Gulmohar Park, New Delhi – 110 024, India

Date of Birth/Age :

10.12.1952

Date of Appointment :

30.03.1998

DIN No.:

00232962

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U15412DL1995PTC194285	NEZONE BISCUITS PRIVATE LIMITED	Director	24-08-95	24-08-95	Active	NO
2	U18101DL1993PTC221830	SM HERBALS PRIVATE LIMITED	Director	30-03-98	30-03-98	Active	NO

Name :

Avni Prakash Chand Bader

Designation :

Director

Address :

B-7, Gulmohar Park, New Delhi – 110 024, India

Date of Birth/Age :

02.04.1967

Date of Appointment :

27.09.2010

DIN No.:

00292531

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	U15412DL1995PTC194285	NEZONE BISCUITS PRIVATE LIMITED	Director	24-08-95	24-08-95	-	Active	NO
2	U51109DL1992PTC106029	ARIHANT FLOUR MILLS PRIVATE LIMITED	Director	12-04-98	12-04-98	06-04-11	Active	NO
3	U65921AS1998PTC005419	BADER SONS PRIVATE LIMITED	Director	24-08-98	24-08-98	-	Active	NO
4	U15142DL1990PTC208969	ARIHANT SOLVEX PRIVATE LIMITED	Director	11-07-07	11-07-07	-	Active	NO
5	U18101DL1993PTC221830	SM HERBALS PRIVATE LIMITED	Director	27-09-10	01-10-09	-	Active	NO
6	U45400DL2007PTC167990	NORTH EAST INFRABUILD PRIVATE LIMITED	Director	30-09-11	20-01-11	-	Active	NO
7	U45400DL2007PTC167989	NORTH EAST INFRATECH PRIVATE LIMITED	Director	29-09-11	01-07-11	-	Active	NO
8	U74899DL1994PTC056799	LEISURE BUILDERS PRIVATE LIMITED	Director	29-09-11	18-08-11	-	Active	NO
9	U74899DL1988PTC033292	BENZ ESTATES PRIVATE LIMITED	Director	29-09-12	18-10-11	-	Active	NO
10	U01403DL1995PTC071538	BOUGAIN VILLEA FARMS PRIVATE LIMITED	Director	29-09-12	04-06-12	-	Active	NO
11	U01110MH1991PTC060573	SUNFLOWER FARMS PRIVATE LIMITED	Additional director	21-12-12	21-12-12	-	Active	NO

Name :

Sudhir Prakash

Designation :

Director

Address :

2/1/1B, Bright Street, Kolkata – 700 019, West Bengal, India

Date of Birth/Age :

05.01.1949

Date of Appointment :

31.12.1993

DIN No.:

00434020

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	L51226UR1918PLC000023	DTC INDIA LIMITED	Director	29-06-84	29-06-84	19-01-07	Active	NO
2	U29264WB1981PTC033347	PRECISION WARPS AND FLYERS PRIVATE LIMITED	Director	04-08-87	04-08-87	-	Active	NO
3	U15143AS1988PLC002863	SONITPUR SOLVEX LIMITED	Director	10-02-88	10-02-88	-	Active	NO
4	L01132KL1923PLC000415	HAILEYBURIA TEA ESTATES LIMITED	Director	11-06-88	11-06-88	-	Active	NO
5	L67020WB1979PLC031867	KANAK PROJECTS LIMITED	Director	01-11-88	01-11-88	-	Active	NO
6	U15142DL1990PTC208969	ARIHANT SOLVEX PRIVATE LIMITED	Director	22-12-90	22-12-90	11-07-07	Active	NO
7	U29299WB1983PLC036897	TECHNO FINANCE LIMITED	Director	16-08-92	16-08-92	-	Amalgamated	NO
8	U18101DL1993PTC221830	SM HERBALS PRIVATE LIMITED	Director	31-12-93	31-12-93	-	Active	NO
9	U01132WB1995PTC071477	DARSHANLAL ANAND PRAKASH AND SONS PRIVATE LIMITED	Director	12-05-95	12-05-95	-	Active	NO
10	L15491WB1964PLC026262	DLX LIMITED	Managing director	17-03-12	31-05-96	-	Active	NO
11	L01132WB1981PLC197045	S P B P TEA (INDIA) LIMITED	Director	07-03-98	07-03-98	30-04-10	Active	NO
12	L72200KA1995PLC025617	WEP SOLUTIONS LIMITED	Director	02-07-98	02-07-98	-	Active	NO
13	L65993WB1982PLC035298	R K COMMERCIAL LIMITED	Director	02-11-11	02-11-11	-	Active	NO

Name :

Aditya Vikram Rungta

Designation :

Director

Address :

9 – Sarajini Naidu Sarani, 6^th Floor, Flat No.23, Kolkata – 700 022, West Bengal, India

Date of Birth/Age :

14.04.1956

Date of Appointment :

27.05.2003

DIN No.:

00456092

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U29264WB1981PTC033347	PRECISION WARPS AND FLYERS PRIVATE LIMITED	Director	07-02-81	07-02-81	Active	NO
2	U51909WB1983PTC036601	VINIT ENTERPRISES(COMMERCE) PRIVATE LIMITED	Director	10-05-84	10-05-84	Strike off	NO
3	U67120WB1971PTC028170	A D INVESTMENT COMPANY PRIVATE LIMITED	Director	30-12-88	30-12-88	Active	NO
4	U67120WB1971PTC028172	T M INVESTMENT COMPANY PRIVATE LIMITED	Director	27-06-91	27-06-91	Active	NO
5	U70109WB1993PTC060878	DEVANSHI PROPERTIES AND CREDIT PRIVATE LIMITED	Director	01-12-93	01-12-93	Strike off	NO
6	U67110WB1995PTC068079	DEVANSHI FINVEST PRIVATE LIMITED	Director	06-02-95	06-02-95	Active	NO
7	L67020WB1979PLC031867	KANAK PROJECTS LIMITED	Director	09-10-00	09-10-00	Active	NO
8	U30009WB2001PTC093532	BARODA CARPETS PRIVATE LIMITED	Director	06-08-01	06-08-01	Active	NO
9	U18101DL1993PTC221830	SM HERBALS PRIVATE LIMITED	Director	27-05-03	27-05-03	Active	NO

Name :

Poonam Shanti Kumar Rungta Prakash

Designation :

Director

Address :

2/1/1B, Bright Street, Kolkata – 700 019, West Bengal, India

Date of Birth/Age :

03.10.1952

Date of Appointment :

27.09.2010

DIN No.:

00475488

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	U01132WB1995PTC071477	DARSHANLAL ANAND PRAKASH AND SONS PRIVATE LIMITED	Director	12-05-95	12-05-95	-	Active	NO
2	U18101DL1993PTC221830	SM HERBALS PRIVATE LIMITED	Director	27-09-10	01-10-09	-	Active	NO
3	U27310WB2011PTC166829	PURBANCHAL CONCAST PRIVATE LIMITED	Director	26-08-11	26-08-11	28-07-12	Active	NO

Name :

Madhushree Budhermull Bhagat Rungta

Designation :

Director

Address :

9 – Sarajini Naidu Sarani, 6^th Floor, Flat No.23, Kolkata – 700 022, West Bengal, India

Date of Birth/Age :

16.09.1958

Date of Appointment :

27.09.2010

DIN No.:

00536293

Other Directorship:

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Company/ LLP Status	Defaulting status
1	U67120WB1958PTC023737	TEESTA VALLEY CORPN PRIVATE LIMITED	Director	29-06-01	29-06-01	Active	NO
2	U18101DL1993PTC221830	SM HERBALS PRIVATE LIMITED	Director	27-09-10	01-10-09	Active	NO
3	U74140WB1994PTC061693	MARYADA ADVISORY SERVICES PRIVATE LIMITED	Additional director	05-08-13	05-08-13	Active	NO

Name :

Rajendra Kumar Bader

Designation :

Director

Address :

B-7, Gulmohar Park, New Delhi – 110 024, India

Date of Birth/Age :

27.05.1949

Date of Appointment :

31.12.1993

DIN No.:

00860980

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	U15319DL1986PTC190955	NEZONE FOODS PRIVATE LIMITED	Director	09-12-86	09-12-86	-	Active	NO
2	U15143AS1988PLC002863	SONITPUR SOLVEX LIMITED	Director	10-02-88	10-02-88	-	Active	NO
3	U15142DL1990PTC208969	ARIHANT SOLVEX PRIVATE LIMITED	Director	27-08-90	27-08-90	-	Active	NO
4	U74899DL1990PTC041573	NORTH EAST BUILDERS PRIVATE LIMITED	Director	24-09-90	24-09-90	-	Active	NO
5	U74899DL1988PTC033292	BENZ ESTATES PRIVATE LIMITED	Director	22-07-93	22-07-93	-	Active	NO
6	U18101DL1993PTC221830	SM HERBALS PRIVATE LIMITED	Director	31-12-93	31-12-93	-	Active	NO
7	U65921AS1998PTC005419	BADER SONS PRIVATE LIMITED	Director	29-05-98	29-05-98	-	Active	NO
8	U74899DL1994PTC056799	LEISURE BUILDERS PRIVATE LIMITED	Director	14-09-04	14-09-04	-	Active	NO
9	U45201RJ2005PTC021052	PRIME CITY REALTORS PRIVATE LIMITED	Director	12-12-05	12-12-05	29-03-10	Active	NO
10	U70109DL1998PTC096371	NORTH EAST BUILDCON PRIVATE LIMITED	Director	24-01-06	24-01-06	27-03-09	Active	NO
11	U45201DL2006PTC146984	NORTH EAST COLONIZERS PRIVATE LIMITED	Director	01-03-06	01-03-06	27-03-09	Active	NO
12	U45201DL2006PTC146986	NORTH EAST RURAL DEVELOPERS PRIVATE LIMITED	Director	06-03-06	06-03-06	05-10-12	Active	NO
13	U45201DL2006PTC147141	NORTH EAST URBAN DEVELOPERS PRIVATE LIMITED	Director	06-03-06	06-03-06	27-03-09	Active	NO
14	U45201DL2004PTC130161	BRIJWASI REALTORS PRIVATE LIMITED	Director	10-04-06	10-04-06	15-03-08	Active	NO
15	U74899DL1995PTC065095	FUTURISTIC ESTATES PRIVATE LIMITED	Director	14-07-07	14-07-07	27-03-09	Active	NO
16	U72300DL2005PTC136292	DAFFODIL IT SERVICES PRIVATE LIMITED	Director	28-07-07	28-07-07	15-10-10	Strike off	NO
17	U45400DL2007PTC167989	NORTH EAST INFRATECH PRIVATE LIMITED	Director	11-09-07	11-09-07	27-03-09	Active	NO
18	U45400DL2007PTC167990	NORTH EAST INFRABUILD PRIVATE LIMITED	Director	11-09-07	11-09-07	-	Active	NO
19	U74992DL2008PTC174786	FOURWOOD SECURITIES PRIVATE LIMITED	Director	29-02-08	29-02-08	-	Active	NO
20	U51109DL1992PTC106029	ARIHANT FLOUR MILLS PRIVATE LIMITED	Director	06-03-08	06-03-08	-	Active	NO
21	L67020WB1979PLC031867	KANAK PROJECTS LIMITED	Director	24-01-12	24-01-12	-	Active	NO
22	U01403DL1995PTC071538	BOUGAIN VILLEA FARMS PRIVATE LIMITED	Director	29-09-12	04-06-12	-	Active	NO
23	U01110MH1991PTC060573	SUNFLOWER FARMS PRIVATE LIMITED	Additional director	21-12-12	21-12-12	-	Active	NO

MAJOR SHAREHOLDERS

AS ON 29.09.2012

Names of Shareholders	No. of Shares
Bader Rajendra Kumar	50035
Prakash Sudhir	1020
Bader Prakash Chand	37760
Bader Priti	22010
Prakash Poonam	1000
Prakash Radhika	1000
Prakash Sidhant	1000
Darshan Lal Anand Prakash and Sons Private Limited	158760
Bader Avni	5000
Bader Vimla	12500
Techno Finance Limited	10000
Rungta Madhu Shree	12750
Shanti Kumar Rungta	55000
Rungta Aditya Vikram	90000
Rungta Slla Devi	16000
Bader Yuvika	33235
Master Samyak: Bader	21500
MaslerArian Bader	29000
Bader Run	20000
Total	577570

Equity Share Break up (Percentage of Total Equity)

AS ON 29.09.2012

Category	Percentage
Bodies corporate	29.22
Directors or relatives of Directors	70.78
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Herbal Extracts and Phytochemicals.
Products :	· 10 DAB III (10 Deacetyl Baccatin - III) · Camptothecin · Reserpine · Colchicine · Thiocolchicoside · Calcium Sennoside · Guggul · Taxol · Podophyllotoxin · Oncological Prepa

GENERAL INFORMATION

No. of Employees :	Not Available
Bankers :	HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400 013, Maharashtra, India

Banking Relations :	--
Auditors :
Name :	Doogar and Associates Chartered Accountants
Address :	13, Community Centre, East of Kailash, New Delhi – 110 065, India
PAN No.:	AACFD8728L

CAPITAL STRUCTURE

AS ON 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
700000	Equity Shares	Rs. 10/- each	Rs.7.000 Millions
130000	Preference Shares	Rs. 100/- each	Rs.13.000 Millions
	Total		Rs.20.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
577570	Equity Shares	Rs. 10/- each	Rs.5.776 Millions

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	5.776	5.776
(b) Reserves & Surplus	97.980	89.270
(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)	103.756	95.046
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000
(b) Deferred tax liabilities (Net)	0.843	0.892
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.520	0.789
Total Non-current Liabilities (3)	1.363	1.681
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	0.211	0.342
(c) Other current liabilities	25.202	12.887
(d) Short-term provisions	0.824	0.038
Total Current Liabilities (4)	26.237	13.267
TOTAL	131.356	109.994
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	32.360	25.709
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	10.775	4.663
(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	2.476	3.221
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	45.611	33.593
(2) Current assets
(a) Current investments	0.041	15.633
(b) Inventories	55.565	29.777
(c) Trade receivables	16.897	26.833
(d) Cash and cash equivalents	10.605	2.919
(e) Short-term loans and advances	2.478	1.143
(f) Other current assets	0.159	0.096
Total Current Assets	85.745	76.401
TOTAL	131.356	109.994

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		5.776
2] Share Application Money		0.000
3] Reserves & Surplus		72.619
4] (Accumulated Losses)		0.000
NETWORTH		78.395
LOAN FUNDS
1] Secured Loans		2.348
2] Unsecured Loans		0.000
TOTAL BORROWING		2.348
DEFERRED TAX LIABILITIES		0.807
TOTAL		81.550
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		21.901
Capital work-in-progress		0.000
INVESTMENT		14.322
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	27.522
	Sundry Debtors	41.321
	Cash & Bank Balances	6.322
	Other Current Assets	0.311
	Loans & Advances	6.198
Total Current Assets		81.674
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000
	Other Current Liabilities	35.610
	Provisions	0.737
Total Current Liabilities		36.347
Net Current Assets		45.327
MISCELLANEOUS EXPENSES		0.000
TOTAL		81.550

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	224.721	228.217	393.060
		Other Income	4.573	2.561	NA
		TOTAL (A)	229.294	230.778	NA
Less	EXPENSES
		Cost of Materials Consumed	173.975	129.849
		Changes in Inventories of finished goods, work-in-progress and stock-in-trade	(30.866)	(0.595)
		Employee benefits Expenses	40.468	49.975
		Research and Development Expense	4.918	0.012
		Other Expenses	20.368	18.982
		TOTAL (B)	208.863	198.223	NA
Less	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		20.431	32.555	34.501
Less	FINANCIAL EXPENSES (D)		0.565	0.589	0.232
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		19.866	31.966	34.269
Less	DEPRECIATION/ AMORTISATION (F)		3.291	2.102	2.408
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)		16.575	29.864	31.861
Less	TAX (H)		4.509	9.845	10.520
	PROFIT/(LOSS) AFTER TAX (G-H) (I)		12.066	20.019	21.341
	EARNINGS IN FOREIGN CURRENCY
		FOB Value of Export Earnings	116.707	128.165	180.450
	TOTAL EARNINGS		116.707	128.165	180.450
	IMPORTS
		Raw Materials	NA	94.568	179.626
	TOTAL IMPORTS		NA	94.568	179.626
	Earnings Per Share (Rs.)		20.89	34.68	36.95

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	5.26	8.67	NA
Net Profit Margin (PBT/Sales)	(%)	7.38	13.09	8.11
Return on Total Assets (PBT/Total Assets}	(%)	14.03	29.25	30.76
Return on Investment (ROI) (PBT/Networth)		0.16	0.31	0.41
Debt Equity Ratio (Total Debt /Networth)		0.00	0.00	0.03
Current Ratio (Current Asset/Current Liability)		3.27	5.76	2.25

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

NOTE: Registered office of the company has been shifted from A-1132, Riico Industrial Area, Phase-3, Bhiwandi, Alwar – 301 019, Rajasthan, India to the Present Address w.e.f. 15.08.2010

INDEX OF CHARGE:

Sr.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10077108	19/09/2013 *	170,616,000.00	HDFC BANK LIMITED	HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI – 400 013, MAHARASHTRA, INDIA	B85581775
2	80020539	30/11/2006 *	10,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI – 400 013, MAHARASHTRA, INDIA	A15290265
3	80020543	12/08/2005	6,000,000.00	HDFC BANK LIMITED	DWARKA, NEW DELHI – 110 001, INDIA	-

* Date of charge modification

FIXED ASSETS:

· Free hold Land

· Lease hold Land

· Building and Civil Construction

· Plant and Machinery

· Miscellaneous Fixed Assets

· Furniture and Fixture

· Vehicles

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.36
UK Pound	1	Rs.101.20
Euro	1	Rs.84.54

INFORMATION DETAILS

Report Prepared by :

NKT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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		48

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.