MIRA INFORM REPORT

Report Date :

29.10.2013

IDENTIFICATION DETAILS

Name :	THE KALUPUR COMMERCIAL CO-OPERATIVE BANK LIMITED
Registered Office :	Kalupur Bank Bhavan, Near Income Tax Circle, Ashram Road, Ahmedabad – 380014, Gujarat
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	05.12.1970
Capital Investment / Paid-up Capital :	Rs. 666.724 Millions
Registration No.:	MSCS/CR/54/95 Date 09.09.1995 (Under M.S.C.S Act 1984 )
Banking License No.:	ACD GJ. 161. P Date 27.10.1979 (Under B. R Act 1949 by Reserve Bank of India)
TAN No.: [Tax Deduction & Collection Account No.]	AHMK00480E
PAN No.: [Permanent Account No.]	AAAAT9360R
Legal Form :	Co-Operative Bank
Line of Business :	Banking Activities
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

A (59)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 31000000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Exist
Comments :	Subject is an established commercial bank having fine track record. Overall financials of the bank appears to be strong and healthy. Banking relation reported to be fair. Business is active. Payment terms are reported to be regular and as per commitment. The bank can be considered for business dealing at usual trade terms and conditions.

NOTES :

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

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

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

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

INDIAN ECONOMIC OVERVIEW

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

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

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

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

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

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

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

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

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 :	Kalupur Bank Bhavan, Near Income Tax Circle, Ashram Road, Ahmedabad – 380014, Gujarat, India
Tel. No.:	91- 79-27582020/27582033
Fax No.:	Not Available
E-Mail :	info@kalupurabank.com
Website :	www.kalupurbank.com

DIRECTORS

As on 31.03.2013

Name :	Mr. Ambubhai Mahanbhai Patel
Designation :	Chairman
Qualification:	B.Com
Name :	Mr. Navnitbhai Chimanlal Patel
Designation :	Vice Chairman
Qualification:	B.Com
Name :	Mr. Percy F Bharucha
Designation :	Managing Director
Qualification:	B.Com, L.L.B, CAIIB, FBIIM Post Graduate Cost Management & Account in U.K.
Name :	Mr. Mineshbhai Jashbhai Patel
Designation :	Jt. Managing Director
Qualification:	BE Chemical
Name :	Mr. Bhupendrabhai Jayantilal Shah
Designation :	Director
Qualification:	M.Sc (Chemistry)
Name :	Mr. Bipinchandra Ratilal Shah
Designation :	Director
Qualification:	B.Sc (Hons.)
Name :	Mr. Chinubhai Chabildas Shah
Designation :	Director
Qualification:	S.S.C
Name :	Mr. Rampurshottam Govindram Agarwal
Designation :	Director
Qualification:	Civil Engineer (Jodhpur University)
Name :	Mr. Mahendrabhai Manilal Shah
Designation :	Director
Qualification:	B.Com
Name :	Mr. Hasmukhbhai Gopaldas Patel
Designation :	Director
Qualification:	B.A. , L.L.B
Name :	Mr. Khodabhai Kalidas Patel
Designation :	Director
Qualification:	B.Sc (Chemistry with Physics and Maths) B.Sc in Chemical Engineering in USA
Name :	Mr. Kaushikbhai Nandubhai Patel
Designation :	Director
Qualification:	B.Com , F.C.A
Name :	Mr. Bhalabhai Chotabhai Patel
Designation :	Director
Qualification:	B.Com , L.L.B
Name :	Mr. Ketulbhai Ramubhai Patel
Designation :	Director
Qualification:	B.Com , L.L.B, FCA , DKA

KEY EXECUTIVES

Name :	Mr. Mahendrabhai R Patel
Designation :	Executive Secretary Board
Name :	Mr. Vinod G Dadlani
Designation :	General Manager
Name :	Mr. Kamal K Karamchandani
Designation :	Senior Assistant General Manager
Name :	Mr. Shaileshbhai J Bhatt
Designation :	Senior Assistant General Manager
Name :	Mr. Maheshchnadra s Vyas
Designation :	Senior Assistant General Manager
Name :	Mr. Ambala S Patel
Designation :	Assistant General Manager
Name :	Mr. Pritesh J Patel
Designation :	Senior Assistant General Manager
Name :	Mr. Pankajbhai r Parikh
Designation :	Assistant General Manager
Name :	Mr. Anil Shrimali
Designation :	Assistant General Manager
Name :	Mr. Ravindra C Shukla
Designation :	Assistant General Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

NOT AVAILABLE

BUSINESS DETAILS

Line of Business :

Banking Activities

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Reserve Bank of India · State Bank of India · The Gujarat State Co-Operative Bank Limited · The Ahmedabad District Co-Operative Bank Limited · Bank of Baroda · State Bank of Maysor · Unions Bank of India · Dena Bank · Punjab National Bank · Corporation Bank · ICICI Bank Limited · HDFC Bank Limited · The Karur Vysya Bank Limited · Axis Bank Limited · Yes Bank Limited · IDBI Bank Limited · Kotak Mahindra Bank Limited · UVO Bank · Canara Bank · Syndicate Bank BANKERS FOR FOREIGN EXCHANGE BUSINESS · Wells Fargo Bank NA · Commerzbank A G · Bank of Novascotia · Westpac Banking Corporation

Banking Relations :
Statutory Auditors :
Name :	Ramesh C Sharma and Company Chartered Accountants
Legal Advisor:	· Ramanlal M Shah and Company · R M Shah and Associates · K J Jadeja and Company Advocates

CAPITAL STRUCTURE

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
40000000	Equity Shares	Rs.25/- each	Rs. 1000.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
26668958	Equity Shares	Rs.25/- each	Rs. 666.724 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
Share Capital	666.724	602.531	486.275
Reserves & Surplus	7059.418	6629.637	6171.836
Deposits and Other Accounts	32749.502	26969.932	22425.022
Borrowings	0.000	0.000	449.548
Bills for Collocation being bills receivable	1738.478	1591.648	1023.862
Branch Adjustments	0.000	1.271	0.000
Overdue Interest Reserve	795.737	869.736	967.906
Interest Payable	119.841	98.114	56.349
Other Liabilities	1062.601	1231.024	860.014
Profit and Loss Account	488.454	405.927	345.029
TOTAL	44680.755	38399.820	32785.841
II. ASSETS
Cash	1667.921	1387.517	1832.492
Balances with other banks	4792.857	2935.647	2890.886
Investments	11275.929	11013.095	11000.378
Advances	22707.592	18842.093	13569.110
Interest Receivable	1231.155	1235.509	1300.975
Bills Receivable Being	1738.476	1591.648	1023.863
Branch Adjustments	0.113	0.000	16.575
Premises / Building	260.202	267.441	273.988
Capital work in progress	67.155	2.759	0.000
Furniture, Fixtures and other fixed Assets	161.899	168.737	166.777
Other Assets	777.456	895.374	708.861
Non Banking assets acquired	0.000	0.000	1.936
TOTAL	44680.755	38399.820	32785.841

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2013	31.03.2012	31.03.2011
INCOME
Interest and Discount	3567.143	2808.814	2194.067
Commission , Exchange and Brokerage	70.122	42.742	34.628
Other Receipts	188.886	132.990	122.359
Profit on sale of assets	0.404	8.237	1.893
Prudentiual W/O Recovery	33.257	17.623	0.000
Short / Excess Tax Provision	8.612	0.000	0.000
Provision for Doubtful Deposit returns Bank	238.884	0.000	0.000
TOTAL	4107.308	3010.406	2352.947
EXPENDITURE
Interest on deposit, Borrowing	2226.831	1710.452	1237.551
Salaries and Allowances, Provident Fund and Bonus etc	347.516	262.409	209.041
Rent, Taxes, Insurance, Lighting etc	51.355	45.177	42.060
Legal Fees	1.706	1.984	7.925
Postage Telegram and Telephone Charges	7.732	6.707	6.105
Audit Fees	1.319	1.106	2.329
Depreciation on and repairs to Property	61.058	59.197	57.858
Stationery, Printing and Advertising etc	11.558	8.953	8.170
Other Expenditure	89.539	77.757	85.776
Leave Encashment liability fund	0.000	0.000	8.864
Bad and Doubtful debts Reserve	62.000	60.000	15.067
Special Building Fund	150.000	50.000	48.000
General Welfare fund	30.000	0.800	50.000
Contingency fund	67.500	0.000	10.000
Provision for other assets	0.000	48.000	7.000
Development Fund	30.000	10.000	10.000
Special Contingency fund	0.000	0.000	10.000
Staff Welfare Fund	10.000	0.000	0.000
Special Reserve	34.100	29.200	192.172
Income tax provision	197.758	232.737	0.000
MMC Bank deposit written off	238.883	0.000	0.000
Profit carried forward to balance sheet	488.453	405.927	345.029
TOTAL	4107.308	3010.406	2352.947

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	No
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	Yes
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

LITIGATION DETAILS

HIGH COURT OF GUJARAT

COMPANY APPLICATION No. 167 of 2010

In COMPANY PETITION/ 207/ 2001 ( DISPOSED ) On : 15/01/2003

Status : PENDING

CCIN No : 001057201000167

Next Listing Date:

26/11/2013

Coram

· HONOURABLE MR.JUSTICE K.M.THAKER

Not Before :

· HONOURABLE MR.JUSTICE ANANT S. DAVE · HONOURABLE MR.JUSTICE KSHITIJ R.VYAS · HONOURABLE MR.JUSTICE N.G.NANDI · HONOURABLE MR.JUSTICE P.B.MAJMUDAR · HONOURABLE MR.JUSTICE Y.B.BHATT

S.NO.

Name of the Petitioner

Advocate On Record

1

JANAK SPECIFIC FAMILY TRUST THROUGH ITS TRUSTEES

MR MB GANDHI for: Applicant(s) 1
MR CHINMAY M GANDHI for: Applicant(s) 1

S.NO.	Name of the Respondant	Advocate On Record
1 2	OFFICIAL LIQUIDATOR OF M/S MINAL OIL & AGRO INDUSTRIES THE KALUPUR COMMERCIAL CO.OP. BANK LIMITED.	OFFICIAL LIQUIDATOR for :Respondent(s) 1 MS AMEE YAJNIK for :Respondent(s) 1 NANAVATIASSOCIATES for :Respondent(s) 2

Presented On	: 22/06/2010	Registered On	: 22/06/2010
Bench Category	: SINGLE BENCH	District	: AHMEDABAD
Case Originated From	: THROUGH ADVOCATE	Listed	: 74 times
StageName	: NOTICE RETURNABLE MATTERS

Act	COMPANIES ACT, 1956

Office Details

S. No.	Filing Date	Document Name	Advocate Name	Court Fee on Document	Document Details
1	22/06/2010	APPLICATION	MR CHINMAY M GANDHI ADVOCATE for PETITIONER(s) 1	0	MR CHINMAY M GANDHI:1
2	22/06/2010	VAKALATNAMA	MR MB GANDHI ADVOCATE for PETITIONER(s) 1	5	MR MB GANDHI:1
3	22/06/2010	APPLICATION	MR MB GANDHI ADVOCATE for PETITIONER(s) 1	50	MR MB GANDHI:1
4	12/07/2010	VAKALATNAMA	NANAVATIASSOCIATES ADVOCATE for RESPONDENT(s) 2 , 2	5	NANAVATI ASSOCIATES:2
5	12/07/2010	DOCUMENT	NANAVATIASSOCIATES ADVOCATE for RESPONDENT(s) 2 , 2	20	NANAVATI ASSOCIATES:2
6	02/08/2010	AFFIDAVIT IN REPLY	NANAVATIASSOCIATES ADVOCATE for RESPONDENT(s) 2 , 2	0	NANAVATI ASSOCIATES:2
7	09/08/2010	AFFIDAVIT IN RE-JOINDER	MR MB GANDHI ADVOCATE for PETITIONER(s) 1	0	MR MB GANDHI:1
8	01/08/2011	APPEARANCE NOTE	MS AMEE YAJNIK ADVOCATE for RESPONDENT(s) 1 , 1	-	MS AMEE YAJNIK:1
Court Proceedings

S. No.	Notified Date	CourtCode	Board Sr. No.	Stage	Action	Coram
1	27/12/2012	17	9	NOTICE RETURNABLE MATTERS	NEXT DATE	· HONOURABLE MR.JUSTICE R.M.CHHAYA
2	21/01/2013	17	15	NOTICE RETURNABLE MATTERS	NEXT DATE	· HONOURABLE MR.JUSTICE R.M.CHHAYA
3	07/02/2013	17	9	NOTICE RETURNABLE MATTERS	NEXT DATE	· HONOURABLE MR.JUSTICE R.M.CHHAYA
4	22/02/2013	17	7	NOTICE RETURNABLE MATTERS	NEXT DATE	· HONOURABLE MR.JUSTICE R.M.CHHAYA
5	11/03/2013	16	16	NOTICE RETURNABLE MATTERS	NEXT DATE	· HONOURABLE MR.JUSTICE R.M.CHHAYA
6	26/03/2013	16	7	NOTICE RETURNABLE MATTERS	NEXT DATE	· HONOURABLE MR.JUSTICE R.M.CHHAYA
7	08/04/2013	16	9	NOTICE RETURNABLE MATTERS	NEXT DATE	· HONOURABLE MR.JUSTICE R.M.CHHAYA
8	16/04/2013	16	10	NOTICE RETURNABLE MATTERS	NEXT DATE	· HONOURABLE MR.JUSTICE R.M.CHHAYA
9	12/06/2013	13	5	NOTICE RETURNABLE MATTERS	NEXT DATE	· HONOURABLE MR.JUSTICE K.M.THAKER · HONOURABLE MR.JUSTICE R.M.CHHAYA
10	10/07/2013	13	15	NOTICE RETURNABLE MATTERS	NEXT DATE	· HONOURABLE MR.JUSTICE K.M.THAKER
11	05/08/2013	13	11	NOTICE RETURNABLE MATTERS	NEXT DATE	· HONOURABLE MR.JUSTICE K.M.THAKER
12	08/08/2013	13	12	NOTICE RETURNABLE MATTERS	NEXT DATE	· HONOURABLE MR.JUSTICE K.M.THAKER
13	27/08/2013	13	9	NOTICE RETURNABLE MATTERS	NEXT DATE	· HONOURABLE MR.JUSTICE K.M.THAKER
14	13/09/2013	13	16	NOTICE RETURNABLE MATTERS	NEXT DATE	· HONOURABLE MR.JUSTICE K.M.THAKER
15	25/10/2013	13	10	NOTICE RETURNABLE MATTERS	NEXT DATE	· HONOURABLE MR.JUSTICE K.M.THAKER
16	26/11/2013	13	-	NOTICE RETURNABLE MATTERS	undefined	· HONOURABLE MR.JUSTICE K.M.THAKER

ECONOMIC SCENARIO OF THE YEAR 2012-2013

A Birds eye view of global as well domestic economic scenario does not depict a satisfactory picture of past year. American economy fared badly under the burden of growing debt and unemployment. The GDP growth of European countries declined due to political instability leading to reduction in industries output and fall in domestic demand resulting in rise in unemployment, However, the economies of China and Japan Showed some signs of recovery. On the other hand, Indian economy also performed badly during the entire year. The GDP growth rate was as less as 5.00% which was lowest in last couple of years. The decline in GDP growth rate is the result of protracted weakness in industrial activity and show down in the services sector reflecting weak external demand. The Heading inflation remained between 6.5% and 7.00 % whereas the retail inflation remained over 10% thought out the year. As a result, the life of common people has become miserable. Their capacity to save has been adversely affected leading to significant fall in investments. The sales and profit of corporate sector have come down significantly. The country faced liquidity crunch throughout the year, compelling Reserve Bank to lower CRR and Repo rate. The current account deficit rose significantly as a result of higher imports and lower exports. Against this backdrop, domestic macroeconomic, conditions and outlook indicating deceleration in growth , high rate of inflation and price rise, slackness in exports and rising gloomy, They are of the opinion that steps should taken to accelerate growth by increasing foreign investments, improving supply conditions, generating avenues of employment and good governance.

BANKING SECTOR FACING A DRASTIC CHANGE:

Banking is a core activity in their country's financial services. Major changes have taken place in this sector in last few years which conform to international standards. The approach of banking is lilting towards profit banking from social banking. Banking is now tending towards cashless banking. Customers are not required to go to banks now a days, instead banks are reaching to customers. They fee! that due to growing element of fierce competition, the future banking will have to understand the needs of customers.

Their Government feels, there is a need to penetrate banking facilities into villages and towns. This will lead to channelize savings of people in the fold of banking sector. The funds so received will help increasing investments, accelerating production and generating employment. This may help eradicating their economic problems. If the scheme of opening Aadhaar car linked bank accounts gathers momentum as per Government's plan, the benefit of banking facilities will reach to every nook and corner of their country.

BANKING SCENARIO AND THEIR BANK'S PERFORMANCE DURING THE YEAR 2012-2013

As stated above, their country's economic growth remained subdued during the last year obviously, therefore, it will have effect on growth rate of deposit, advances, NPAs and CRAR. But, J am happy to stale that despite unfavourable conditions, their bank has made a spectacular progress achieving 21.43% growth rate of deposits and 20,52% growth rate of advances. Bank's total business has also crossed the milestone of T5500 croreand bank's gross NPAs have remained at the level of just 0.96%, A summary of vital statistics of their performance highlights is given hereunder.

CONTINGENT LIABILITIES:

(Rs. in millions)

PARTICULARS	31.03.2013	31.03.2012
Income Tax Assessment Order Contested	12.384	12.384
Service tax Demand in Appeal	0.320	0.320

WEBSITE DETAILS

HISTORY

The bank had a very humble, but very inspiring beginning on 5th December 1970. The Bank is a professionally managed “Financial Institution” a benchmark of transparency, credibility and innovation. 

The Bank is founded by Late Shri Baldevbhai Dosabhai Patel, Late Shri Gopaldas Shivlal Patel and Shri Arvindbhai Jivanlal Saheba. The Bank has nurtured its traditional values in business practices and in serving the small businessmen. These were the people with deep and abiding ideas, faith, vision, optimism and entrepreneurial skills with commendable sense of service and duty. 

The dynamism infused by the Board of Directors, affectionate loyalties of clients and devotion of staff members has created the sound foundation of The Kalupur Commercial Co-operative Bank Limited and has emerged as one of the leading Multi Sate Scheduled Co-operative Bank in the country. 

The Bank has adopted new technologies and advanced Banking tools to add value to its services. The Kalupur Bank has earned a name in co-operative Banking sector due to its rich heritage, integrity and adherence to prudent banking practices, technology advancement customized products and services. 

The Kalupur Bank believes that “Customer Delight” is the ultimate goal and has a strong belief that customers and all shareholders, wholehearted support, absolute faith and their patronage coupled with hard work of the staff members has been largely responsible for its noteworthy and appreciable growth. The Kalupur Bank is committed to provide banking services with speed, comfort and convenience. The Kalupur Bank has a visionary growth plan focusing all business strategies.  

The Bank has 38 branches of which 33 are situated in Bank’s own premises. These branches are spread over Ahmedabad, Sanand, Bareja, Bavla, Anand, Khambhat, Vadodara, Surat, Gandhinagar and Mumbai.

MILESTONES

The Bank which was opened in a small area of 250 sq.ft. in the year 1970 has now 33 premises of its own which are ultramodern and spacious.

The Bank started paying 12 % dividend from the year 1978 and achieved ‘A’ class in audit from RBI.

In the year 1975, the Bank got direct membership in the clearing house.

Because of effective administration, the Bank was honored to work as “Administrator” of a weak co-operative Bank named as “VIKRAM CO-OPERATIVE BANK LIMITED” in the year 1983.

In 1986, the Bank started frenchies from it’s own Head Office Building which was inaugurated by the then Prime Minister Shri V.P. Singh.

In the year 1988-89, the Bank was permitted to accept “NRI Deposits”

In the year 1992, the Bank started “Computer Division” in the Bank. This was the first step towards making the Bank as Techno Savvy Bank.

In the year 1993-94. The Bank achieved top position amongst all co-operative Banks in Gujarat in terms of Business.

The Bank has maintained its number ‘ONE’ rank till now.

In 1995, the Bank was permitted to work as “Banker to the issue”. This was a noteworthy achievement. The Bank successfully handled three issues in one month.

In the year 1995, the Bank got the status of Multi State Scheduled Bank.

It was a unique honour. The Bank opened a branch in Mumbai.

In the year 1999, the Bank started “Demat Department”. At that time, the Bank was the first co-operative Bank in the city of Ahmedabad to start Demat Dept and function as Depository Participant (D.P.) of National Securities Depositories Limited. (NSDL)

In the year 2003-04, the Kalupur Bank was authorized by the Ahmedabad Municipal Corporation to collect property tax and Vehicle Tax.

The Bank has been permitted to work as “Authorized Stamp Vendor” by the Government of Gujarat. 33 branches of the Bank are providing this services.

The Bank has entered into the business of General Insurance as “Referred Agency” with Bajaj Allianz Co.

In the year 2005 the RBI permitted the Bank to start “Real Time Gross Settlement” (RTGS) services, Now the Bank is linked to 78000 bank branches of the country for fund transfer. The Bank gives RTGS / NEFT / NECS and speed clearing services.

The Bank was the first co-operative Bank in the state of Gujarat to be on RTGS platform.

The Bank is a member of CCIL (Clearing Corporation of India Limited ) which gives the Bank an access to various dealing platforms for dealing in Government Securities, Call Money and conducting collateralized Borrowing and Lending Obligation (CBLO)

The Bank is the first and only co-operative Bank amongst scheduled, District and State Co-operative Banks in Gujarat to get license as an Authorized Dealer category – 1, to deal in Forex, from RBI in 2007.

The Kalupur Bank is the only Bank in Ahmedabad City with a Dealing Room for Forex operations.

The Bank has installed – 26 on site and 2 off-site ATMs.

The Bank provides SMS Banking facilities.

The Bank has implemented “CBS” in all branches.

PRIZES AND AWARDS

UTKARSHA Award (2003)	For zero NPA – given by Gujarat State Co-Operative Union and Gujarat State Urban Co-Operative Bank Federation.
Excellency Award	By Gujarat Times for Achievement in NRI / NRG Deposits.
Knowledge Revolution	Flood IT By Gujarat State Urban Co-Operative Bank Federation.
Bank with Defference	by Gujarat State Urban Co-operative Bank's Federation
"SHERDIL" Gujarat Award	By Govt. of Gujarat for Blood Donation camps.

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 records 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] on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

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

Charges or investigation registered against subject: None

7] Criminal Records

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

8] Affiliation with Government :

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

9] Compensation Package :

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

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

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

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

CONTRAVENTION

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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.50
UK Pound	1	Rs.99.49
Euro	1	Rs.84.88

INFORMATION DETAILS

Report Prepared by :

KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	7
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	7
--CREDIT LINES	1~10	7
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--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		59

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.