MIRA INFORM REPORT

Report Date :

06.09.2013

IDENTIFICATION DETAILS

Name :	SEL TEXTILES LIMITED (w.e.f. 15.10.2009)
Formerly Known As :	SEL TEXTILES PRIVATE LIMITED (w.e.f. 03.04.2009) JUPITER DRAPES AND CUTS APPARELS PRIVATE LIMITED
Registered Office :	274, Dhandari Khurd, G.T. Road, Ludhiana- 141014, Punjab
Country :	India
Financials (as on) :	31.03.2012 (Profit and Loss)
Date of Incorporation :	01.07.2008
Com. Reg. No.:	16-032050
Capital Investment / Paid-up Capital :	Rs.286.300 Millions
CIN No.: [Company Identification No.]	U17299PB2008PLC032050
TAN No.: [Tax Deduction & Collection Account No.]	JLDS07468G
PAN No.: [Permanent Account No.]	AANCS0401M
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacture and sale of combed and carded cotton yarns.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

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

Maximum Credit Limit :	USD 5500000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. Balance Sheet as on 2012 is not available with us. As per the profit and loss statement of 2012, the company has seen a significant increase in the sales turnover of the company during 2012. The company is progressing well. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct 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

CARE (23 August 2013) : Care has suspended the rating assigned to the bank facilities of the subject as management failed to furnish the required details.

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 / Plot No. :	274, Dhandari Khurd, G.T. Road, Ludhiana- 141014, Punjab, India
Tel. No.:	91-161-6611111
Fax No.:	91-161-6611112
E-Mail :	cs@selindia.in ipo@selindia.in ipo@rssalujagroup.co.in sjindal@sellindia.in
Website :	http://www.rssalujagroup.co.in www.selindia.in
Factory 1 :	23Km. Stone, Delhi-Hisar Highway, Hisar – 125033, Haryana, India
Tel. No.:	91-1663-256527 / 28 / 29
Factory 2 :	15-B, Rig of Industrial Area, Alwar – 301705 Rajasthan, India

DIRECTORS

As on 27.08.2012

Name :

Mr. Ram Saran Saluja

Designation :

Managing Director

Address :

9-C, Sarabha Nagar, Ludhiana – 141001, Punjab, India

Date of Birth/Age :

07.07.2008

Qualification:

Graduate

Date of Appointment :

08.10.2012

DIN No.:

01145051

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	U17115PB2002PTC025227	SHIV NARAYAN INVESTMENTS PRIVATE LIMITED	Director	30/03/2006	30/03/2006	-	Active	NO
2	L51909PB2000PLC023679	SEL MANUFACTURING COMPANY LIMITED	Director	24/04/2006	24/04/2006	-	Active	NO
3	U17299PB2008PLC032050	SEL TEXTILES LIMITED	Managing director	08/10/2012	01/07/2008	-	Active	NO
4	U55101PB1987PLC037859	OMEGA HOTELS LIMITED	Director	23/08/2011	30/10/2010	-	Active	NO
5	U45201PB2008PTC031579	SEL DEVELOPERS PRIVATE LIMITED	Director	05/09/2011	27/11/2010	-	Active	NO
6	U93000PB2008PTC031580	SEL AVIATION PRIVATE LIMITED	Director	11/07/2011	27/11/2010	-	Active	NO
7	U17200PB2008PLC032259	SILVERLINE CORPORATION LIMITED	Director	01/06/2011	09/02/2011	-	Active	NO
8	U24296DL2003PTC121095	SEL ECOCHEM PRIVATE LIMITED	Director	18/07/2011	13/07/2011	-	Active	NO
9	U40102PB2011PLC035763	SEL RENEWABLE POWER LIMITED	Director	14/08/2013	19/12/2011	-	Active	NO
10	U65999HR2012PTC045962	SIDHIVINAYAK FINANCIAL SERVICES PRIVATE LIMITED	Director	16/05/2012	16/05/2012	-	Active	NO

Name :

Mr. Neeraj Saluja

Designation :

Director

Address :

9-C, Sarabha Nagar, Ludhiana – 141001, Punjab, India

Date of Birth/Age :

06.03.1967

Qualification:

Post Graduate

Date of Appointment :

02.09.2011

DIN No.:

00871939

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	U17115PB2002PTC025227	SHIV NARAYAN INVESTMENTS PRIVATE LIMITED	Director	30/03/2006	30/03/2006	-	Active	NO
2	L51909PB2000PLC023679	SEL MANUFACTURING COMPANY LIMITED	Managing director	26/05/2012	30/03/2006	-	Active	NO
3	U45201PB2008PTC031579	SEL DEVELOPERS PRIVATE LIMITED	Director	11/01/2008	11/01/2008	-	Active	NO
4	U93000PB2008PTC031580	SEL AVIATION PRIVATE LIMITED	Director	11/01/2008	11/01/2008	-	Active	NO
5	U45208PB2008PLC031841	RYTHM TEXTILE AND APPARELS PARK LIMITED	Director	16/04/2008	16/04/2008	-	Active	NO
6	U17299PB2008PLC032050	SEL TEXTILES LIMITED	Director	02/09/2011	07/05/2009	-	Active	NO
7	U17200PB2008PLC032259	SILVERLINE CORPORATION LIMITED	Director	30/09/2010	15/03/2010	-	Active	NO
8	U55101PB1987PLC037859	OMEGA HOTELS LIMITED	Director	23/08/2011	30/10/2010	-	Active	NO
9	U17119PB2010PTC034482	AHUJA COTSPIN PRIVATE LIMITED	Director	16/12/2010	16/12/2010	28/06/2013	Active	NO
10	U91900PB2011NPL034564	YOUNG PRESIDENT'S ORGANISATION (PUNJAB CHAPTER)	Director	05/01/2011	05/01/2011	-	Active	NO
11	U24296DL2003PTC121095	SEL ECOCHEM PRIVATE LIMITED	Director	18/07/2011	13/07/2011	-	Active	NO
12	U40102PB2011PLC035763	SEL RENEWABLE POWER LIMITED	Director	14/08/2013	19/12/2011	-	Active	NO
13	U65999HR2012PTC045962	SIDHIVINAYAK FINANCIAL SERVICES PRIVATE LIMITED	Director	16/05/2012	16/05/2012	-	Active	NO

Name :

Mr. Dhiraj Saluja

Designation :

Director

Address :

9-C, Sarabha Nagar, Ludhiana – 141001, Punjab, India

Date of Birth/Age :

03.09.1972

Qualification:

Post Graduate

Date of Appointment :

01.07.2008

DIN No.:

01144870

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	U17115PB2002PTC025227	SHIV NARAYAN INVESTMENTS PRIVATE LIMITED	Director	28/06/2002	28/06/2002	-	Active	NO
2	L51909PB2000PLC023679	SEL MANUFACTURING COMPANY LIMITED	Managing director	28/05/2013	28/05/2007	-	Active	NO
3	U45201PB2008PTC031579	SEL DEVELOPERS PRIVATE LIMITED	Director	11/01/2008	11/01/2008	-	Active	NO
4	U93000PB2008PTC031580	SEL AVIATION PRIVATE LIMITED	Director	11/01/2008	11/01/2008	-	Active	NO
5	U17299PB2008PLC032050	SEL TEXTILES LIMITED	Director	01/07/2008	01/07/2008	-	Active	NO
6	U17200PB2008PLC032259	SILVERLINE CORPORATION LIMITED	Director	05/09/2008	05/09/2008	-	Active	NO
7	U55101PB1987PLC037859	OMEGA HOTELS LIMITED	Director	23/08/2011	30/10/2010	-	Active	NO
8	U24296DL2003PTC121095	SEL ECOCHEM PRIVATE LIMITED	Director	18/07/2011	13/07/2011	-	Active	NO
9	U40102PB2011PLC035763	SEL RENEWABLE POWER LIMITED	Director	19/12/2011	19/12/2011	-	Active	NO

Name :

Mr. Navneet Gupta

Designation :

Director

Address :

193-D, U/E PH-I, Focal Point, Ludhiana – 141010, Punjab, India

Date of Birth/Age :

11.11.1969

Date of Appointment :

02.09.2011

DIN No.:

02122420

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	U45208PB2008PLC031841	RYTHM TEXTILE AND APPARELS PARK LIMITED	Director	16/04/2008	16/04/2008	-	Active	NO
2	L51909PB2000PLC023679	SEL MANUFACTURING COMPANY LIMITED	Whole-time director	08/05/2011	08/05/2008	-	Active	NO
3	U17200PB2008PLC032259	SILVERLINE CORPORATION LIMITED	Director	05/09/2008	05/09/2008	-	Active	NO
4	U17299PB2008PLC032050	SEL TEXTILES LIMITED	Director	02/09/2011	07/05/2009	-	Active	NO

Name :

Mr. Ashwani Kumar

Designation :

Director

Address :

19-A, Udham Singh Nagar, Civil Lines, Ludhiana – 141001, Punjab, India

Date of Birth/Age :

14.07.1955

Date of Appointment :

16.06.2010

DIN No.:

00030307

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	U65999DL1984PLC019607	DANDM COMPONENTS LIMITED	Director	23/03/1985	23/03/1985	-	Active	NO
2	U74899DL1991PTC043092	GLOBE TROTTERS PRIVATE LIMITED	Director	13/02/1991	13/02/1991	-	Active	NO
3	L74899DL1984PLC019492	VARDHMAN INDUSTRIES LIMITED	Director	05/07/1993	05/07/1993	-	Active	NO
4	L99999PB1973PLC003385	GARG FURNACE LIMITED	Director	02/09/1996	02/09/1996	04/05/2011	Active	NO
5	L15490PB1992PLC012662	PRIME INDUSTRIES LIMITED	Director	21/12/1996	21/12/1996	-	Active	NO
6	U67120CH2000PLC023244	L S E SECURITIES LIMITED	Director	06/10/2004	06/10/2004	19/07/2007	Active	NO
7	L65991PB1985PLC006414	MASTER TRUST LIMITED	Director	30/09/2006	31/12/2005	-	Active	NO
8	L51909PB2000PLC023679	SEL MANUFACTURING COMPANY LIMITED	Director	24/04/2006	24/04/2006	-	Active	NO
9	U74899DL1986PTC025068	UNIQUE HOLDINGS PRIVATE LIMITED	Director	11/08/2006	11/08/2006	-	Strike off	NO
10	U18101PB1993PLC013745	SHIVA TEXFABS LIMITED	Director	01/09/2006	01/09/2006	10/03/2012	Active	NO
11	U17299PB2008PLC032050	SEL TEXTILES LIMITED	Director	16/06/2010	25/11/2009	-	Active	NO
12	U67120PB1981PLC004696	LUDHIANA STOCK EXCHANGE LIMITED	Director	10/12/2009	10/12/2009	-	Active	NO

Name :

Mr. Sandeep Gupta

Designation :

Director

Address :

H NO 590, Sector B, Agar Nagar, Ludhiana – 141001, Punjab, India

Date of Birth/Age :

19.06.1966

Date of Appointment :

16.06.2010

DIN No.:

00844408

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	U17117PB1989PTC009016	SHREE NATH SYNCOT (INDIA) PRIVATE LIMITED	Director	14/04/1995	14/04/1995	-	Active	NO
2	U51490PB2004PTC027287	SYNTAX POLYFIBRES PRIVATE LIMITED	Director	08/07/2004	08/07/2004	-	Active	NO
3	U17299PB2008PLC032050	SEL TEXTILES LIMITED	Director	16/06/2010	13/02/2010	-	Active	NO
4	U17200PB1985PTC006564	GAL COTTEX PRIVATE LIMITED	Director	29/09/2011	05/01/2011	-	Active	NO

Name :

Mr. Gulshan Kumar

Designation :

Director

Address :

H. No. B-l/803/1, Brindaban Road, Civil Lines, Ludhiana – 141001, Punjab, India

Date of Birth/Age :

16.07.1963

Date of Appointment :

16.06.2010

DIN No.:

01952150

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	U18101DL1995PTC189720	GANGA KNIT PRIVATE LIMITED	Director	25/04/1995	25/04/1995	-	Active	NO
2	U51909WB2005PTC104064	MEDHAVI GOODS PRIVATE LIMITED	Director	29/08/2009	29/08/2009	-	Under Process of Striking off	NO
3	U17299PB2008PLC032050	SEL TEXTILES LIMITED	Director	16/06/2010	18/11/2009	-	Active	NO
4	U17119PB2010PTC034482	AHUJA COTSPIN PRIVATE LIMITED	Director	06/12/2010	06/12/2010	-	Active	NO
5	U51109WB2007PTC114252	JOJOBA DEALCOM PRIVATE LIMITED	Director	14/12/2010	14/12/2010	-	Under Process of Striking off	NO
6	U74900PB2011PTC035251	AHUJA PROCESSORS PRIVATE LIMITED	Director	06/07/2011	06/07/2011	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Jatinder Kumar Kataria
Designation :	Secretary
Address :	HIG – 198, Pude Complex, Sector 48 C, Mohali – 160047, Punjab, India
Date of Birth/Age :	05.06.1988
Date of Appointment :	16.04.2012
PAN No.	BJNPK8200R

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 27.08.2012

Names of Shareholders	No. of Shares
Ram Saran Saluja	01
Dhiraj Saluja	01
Sneh Lata Saluja	01
SEL Manufacturing Company Limited, India	36429994
Neeraj Saluja	01
Ritu Saluja	01
Reema Saluja	01
Total	36430000

As on 10.12.2012

Names of Shareholders	No. of Shares
SEL Manufacturing Company Limited, India	51200000
Total	51200000

As on 30.03.2013

Names of Shareholders	No. of Shares
SEL Manufacturing Company Limited, India	39427200
Total	39427200

Equity Share Break up (Percentage of Total Equity)

As on 27.08.2012

Category	Percentage
Bodies corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacture and sale of combed and carded cotton yarns.

Products :

Product Description	Item Code No.
Cotton Yarn	52054610

PRODUCTION STATUS (As on 31.03.2011)

Particulars	Unit	Installed Capacity	Actual Production
Cotton Yarn	Kgs	32176	10506837

(Installed Capacities have been certified by the management and not verified by the Auditors being Technical matter)

(Installed capacities per annum on the basis of 360 working days. Installed Capacities are in terms of spindles capacities)

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• Allahabad Bank, 165, Industrial Area 'A', Near Cheema Chowk, Ludhiana - 141003, Punjab, India
• Central Bank Of India, C-14, Focal Point, Ludhiana - 141010, Punjab, India

Facilities :

Secured Loan	Rs. in million 31.03.2011
Rupee term loans banks secured	1096.151
Working capital loans banks secured	574.001
Total	1670.152

Banking Relations :
Auditors :
Name :	Dinesh Mehtani and Company Chartered Accountants
Address :	B-XI-1916, Old Civil Hospital Road, Ludhiana -141001, Punjab, India
PAN N Income-tax PAN of auditor or auditor's firm :	ABIPM4723H
Holding Company:	SEL Manufacturing Company Limited
Subsidiary:	Silverline Corporation Limited
Enterprises over which key management personnel and relatives of such personnel are able to exercise significant influence	Shiv Narayan Investments Private Limited Saluja International Saluja Fabrics SEL Aviation Private Limited SEL Developers Private Limited Rhythm Textiles and Apparels Private Limited SE Exports Kudu Industries Omega Hotel Limited

CAPITAL STRUCTURE

AFTER 27.08.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
200000000	Equity Shares	Rs.10/- each	Rs. 2000.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
127057200	Equity Shares	Rs.10/- each	Rs. 1270.572 Millions

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
50000000	Equity Shares	Rs.10/- each	Rs. 500.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
28630000	Equity Shares	Rs.10/- each	Rs. 286.300 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		286.300	286.300
2] Share Application Money		790.339	0.000
3] Reserves & Surplus		303.160	184.929
4] (Accumulated Losses)		0.000	0.000
NETWORTH		1379.799	471.229
LOAN FUNDS
1] Secured Loans		1670.152	591.030
2] Unsecured Loans		14.281	1.917
TOTAL BORROWING		1684.433	592.947
DEFERRED TAX LIABILITIES		27.333	11.935
TOTAL		3091.565	1076.111
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		839.585	408.425
Capital work-in-progress		820.013	199.070
INVESTMENT		72.350	43.980
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1005.468	485.894
	Sundry Debtors	84.835	27.973
	Cash & Bank Balances	116.200	24.486
	Other Current Assets	0.000	0.000
	Loans & Advances	431.102	131.954
Total Current Assets		1637.605	670.307
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	227.521	199.418
	Other Current Liabilities	27.087	38.853
	Provisions	32.700	7.400
Total Current Liabilities		287.308	245.671
Net Current Assets		1350.297	424.636
MISCELLANEOUS EXPENSES		9.320	0.000
TOTAL		3091.565	1076.111

Note:

Balance sheet for the year 2012 is not available only profit and loss a/c is available.

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	4498.708	1921.572	386.261
		Other Income	148.140	26.248	13.818
		TOTAL (A)	4646.848	1947.820	400.079
Less	EXPENSES
		Cost of materials consumed	4132.948	1469.352
		Purchases of stock-in-trade	526.879	0.000
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	(799.012)	(165.161)
		Employee benefit expense	81.655	70.634
		Other expenses	315.126	262.498
		TOTAL (B)	4257.596	1637.323	334.109
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		389.252	310.497	65.970
Less	FINANCIAL EXPENSES (D)		135.070	103.002	16.914
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		254.182	207.495	49.056
Less/ Add	DEPRECIATION/ AMORTISATION (F)		53.601	43.651	10.085
	PROFIT BEFORE TAX (E-F) (G)		200.581	163.844	38.971
Less	TAX (H)		65.353	44.198	14.023
	PROFIT AFTER TAX (G-H) (I)		135.228	119.646	24.948
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		143.140	24.909	(0.039)
Less	APPROPRIATIONS
		Transfer to General Reserve	NA	1.415	0.000
	BALANCE CARRIED TO THE B/S		NA	143.140	24.909
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	1218.300	804.800	177.600
	TOTAL EARNINGS		1218.300	804.800	177.600
	IMPORTS
		Stores & Spares	4.500	2.400
		Capital Goods	455.600	40.700
	TOTAL IMPORTS		460.100	43.100	0.266
	Earnings Per Share (Rs.)		4.15	4.18	1.88

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	2.91	6.14	6.24
Net Profit Margin (PBT/Sales)	(%)	4.46	8.53	10.09
Return on Total Assets (PBT/Total Assets}	(%)	NA	6.61	3.61
Return on Investment (ROI) (PBT/Networth)		NA	0.11	0.08
Debt Equity Ratio (Total Debt /Networth)		NA	1.22	1.26
Current Ratio (Current Asset/Current Liability)		NA	5.70	2.73

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	No
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 of the company has been shifted Plot No. 274, G.T. Road, Dhandari Khurd, Ludhiana – 141010, Punjab, India to the present address w.e.f 11.08.2011

UNSECURED LOAN

PARTICULARS	Rs. in million 31.03.2011
Other debt unsecured	14.281
Total	14.281

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10330477	04/05/2012 *	3,040,000,000.00	CENTRAL BANK OF INDIA	C-14 FOCAL POINT, LUDHIANA, PUNJAB -141010, INDIA	B42335075
2	10330472	30/12/2011	490,000,000.00	CENTRAL BANK OF INDIA	C-14, FOCAL POINT, LUDHIANA, PUNJAB - 141010, INDIA	B30115299
3	10316480	30/03/2013 *	7,000,000,000.00	ALLAHABAD BANK	165, INDUSTRIAL AREA 'A', NEAR CHEEMA CHOWK, LUDHIANA, PUNJAB - 141003, INDIA	B75545137
4	10295187	18/06/2011	2,300,000,000.00	CENTRAL BANK OF INDIA	FOCAL POINT, LUDHIANA, PUNJAB - 141010, INDIA	B16198103
5	10185875	15/12/2011 *	2,671,500,000.00	CENTRAL BANK OF INDIA	C-14, FOCAL POINT, LUDHIANA, PUNJAB - 141010, INDIA	B30119614

NOTE: * Date of charge modification

FIXED ASSETS

• Land
• Plant and Machinery
• Electric Fitting
• Electric Installation
• Furniture and Fixtures
• Vehicles
• Computer
• Office Equipments

CMT REPORT (Corruption, Money Laundering & Terrorism]

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

1] INFORMATION ON DESIGNATED PARTY

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

2] Court Declaration :

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

3] Asset Declaration :

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

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

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

Charges or investigation registered against subject: None

7] Criminal Records

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

8] Affiliation with Government :

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

9] Compensation Package :

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

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

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

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

CONTRAVENTION

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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.66.04
UK Pound	1	Rs.103.11
Euro	1	Rs.86.99

INFORMATION DETAILS

Report Prepared by :

KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--CREDIT LINES	1~10	4
--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		44

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.