MIRA INFORM REPORT

Report Date :

01.04.2014

IDENTIFICATION DETAILS

Name :	KAYTEE CORPORATION PRIVATE LIMITED
Registered Office :	India House, Opposite GPO, Fort, Mumbai – 400001, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	01.07.1994
Com. Reg. No.:	11-079375
Capital Investment / Paid-up Capital :	Rs.90.000 Millions
CIN No.: [Company Identification No.]	U17120MH1994PTC079375
PAN No.: [Permanent Account No.]	AAACK1732E
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Trader, Exporter and Importer of Knitted Garments.
No. of Employees :	750 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (31)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 591000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Exist
Comments :	Subject is an established company having moderate track record. The rating reflects moderate financial risk profile marked by low profitability levels and below average liquidity position. However, trade relations are fair. Business is active. Payment terms are slow but correct. The company can be considered for business dealings with some cautions.

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 – December 1, 2013

Country Name	Previous Rating (30.09.2013)	Current Rating (01.12.2013)
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 for the fiscal third quarter ended September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product from $31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in exports and moderation in gold imports. Manufacturing activity and new orders in India showed their strongest growth in a year in February. The news comes as a relief after data showed Asia’s third largest economy grew by a slower-than-expected 4.7 % annually in the three months through December. The HSBC Manufacturing Purchasing Managers’ Index which gauges the business activity of India’s factories but not its’ utilities, rose to 52.5 in February, its highest in a year from 51.4 in January. Overall new orders for factory goods which rose to a one-year high of 54.9 contributed to the surge. China has emerged as India’s biggest trading partner in the current financial year replacing the United Arab Emirates and pushing it to the third spot. India-China trade has reached $49.5 billion with a 8.7 % share in India’s total trade. The US comes second at $46 billion with 8.1 % share during the first nine months of the current financial year.

The Reserve Bank of India has granted an additional nine months to the public to exchange currency notes printed before 2005 including Rs 500 and Rs 1,000 denominations, pushing the deadline to January 1, 2015. A day before dates for the Lok Sabha polls were announced, the government decided to hike interest rates on fixed deposit schemes offered by post offices up to 0.2 per cent. The new rates will be effective April, 1. The Supreme Court will resume hearing on March, 11 Nokia’s appeal against a ruling over transferring ownership of its local mobile phones plant which is the subject of a tax dispute to Microsoft Corp.

In the last days of the current Government, another scam has surfaced. The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The Central Bureau of Investigation will look into allegations that over $80 million was paid in kickbacks in a deal signed in 2011. India has asked Boeing Co. to find a solution for problems with state-owned Air India’s 787 Dreamliners. The aircraft has experienced a series of malfunctions since its debut in 2011.

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	Long term – working capital term loan B+
Rating Explanation	Prone credit quality and high risk of default.
Date	January, 2014

Rating Agency Name	ICRA
Rating	Short term LC A4
Rating Explanation	Minimal degree of safety and very high credit risk.
Date	January, 2014

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.

INFORMATION PARTED BY

Name :	Mr. Mahendra Parekh
Designation :	General Manager in Finance
Contact No.:	91-9821435456
Date :	28.03.2014

LOCATIONS

Registered Office :	India House, Opposite GPO, Fort, Mumbai – 400001, Maharashtra, India
Tel. No. :	Not Available
Mobile No. :	91-9821435456 (Mr. Mahendra Parekh)
Fax No. :	Not Available
E-Mail :	cbg@kayteegarmetns.com mer@kayteeind.com sharad@kaytee.co.in
Website :	http://www.kayteeind.com
Corporate Office :	Nariman Point, Mumbai-400021, Maharashtra, India
Tel. No.:	91-22-22837121
Fax No.:	91-22-22842243
Area :	3200 Sq. ft. (Owned)
Factory 1 :	K. G Palyam Road, Veerpandi Post, Tirupur-641605, Tamilnadu, India
Tel. No.:	91-421-2210910
Fax No.:	91-421-2214910

DIRECTORS

As on 30.09.2013

Name :

Mr. Premal Harkison Udani

Designation :

Managing Director

Address :

51, Sakhar Bhavan, Nariman Point, Mumbai – 400021, Maharashtra, India

Date of Birth/Age :

20.02.1960

Qualification :

B.com and M.B.A (Marketing)

Date of Appointment :

01.08.1994

PAN No. :

AAAPU1329G

DIN No. :

00075391

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	U67120MH1981PTC023797	JYOT PRAKASH INVESTMENTS PRIVATE LIMITED	Director	17/05/1984	17/05/1984	01/10/2013	Active	NO
2	U74999MH1985PTC038415	Caro Fine Jewellery Private Limited	Director	20/07/1986	20/07/1986	31/08/2011	Amalgamated	NO
3	U51900MH1982PTC027523	KESHAVLAL TALAKCHAND (BOMBAY) PRIVATE LIMITED	Director	22/08/1986	22/08/1986	-	Converted to LLP and dissolved	NO
4	U24110MH1990PTC056955	ADITYA INTERMEDIATE PRIVATE LIMITED	Director	21/06/1990	21/06/1990	10/11/2011	Active	NO
5	U93000MH1990PTC056954	PRANAV REALTY AND SERVICES PRIVATE LIMITED	Director	21/06/1990	21/06/1990	-	Converted to LLP and dissolved	NO
6	U65990MH1990PTC055882	PRIYANKA SECURITIES AND COMMERCIAL PRIVATE LIMITED	Director	09/08/1990	09/08/1990	10/11/2011	Active	NO
7	U74899DL1978NPL008877	APPAREL EXPORT PROMOTION COUNCIL.	Director	27/09/2013	30/12/1992	-	Active	NO
8	U74999MH1966NPL013602	THE INDO-ITALIAN CHAMBER OF COMMERCE AND INDUSTRY	Director	21/07/2003	21/07/1993	-	Active	NO
9	U17120MH1994PTC079375	KAYTEE CORPORATION PRIVATE LIMITED	Managing director	01/08/1994	01/08/1994	-	Active	NO
10	U24110MH1972PTC015665	GREEN LIFESTYLES DEVELOPERS PRIVATE LIMITED	Director	11/08/2009	09/03/1996	-	Active	NO
11	U72900MH1999PTC119446	E-COMMERCE TECHNOLOGIES (INDIA) PRIVATE LIMITED	Director	16/04/1999	16/04/1999	-	Converted to LLP and dissolved	NO
12	U17110MH1992PTC069245	PREMIER KNIT PROCESSORS PVT LTD	Director	02/12/2002	02/12/2002	01/10/2012	Active	NO
13	U17120MH2003PTC143184	KAYTEE APPARELS PRIVATE LIMITED	Director	18/11/2003	18/11/2003	05/12/2011	Active	NO
14	L93090TN1979PLC032618	MARIS SPINNERS LIMITED	Director	14/11/2005	14/11/2005	-	Active	NO
15	U67190MH1999PTC120596	YASHASWINI CONSULTANTS PRIVATE LIMITED	Additional director	13/12/2007	13/12/2007	-	Active	NO
16	U67190MH1999PTC120622	CROWE HORWATH CONSULTANTS PRIVATE LIMITED	Additional director	13/12/2007	13/12/2007	-	Active	NO
17	U74140MH1999PTC119850	Crowe Horwath Advisory Services Private Limited	Additional director	13/12/2007	13/12/2007	-	Active	NO
18	U92411MH1933PLC002813	THE CRICKET CLUB OF INDIA LIMITED	Director	14/10/2011	26/09/2008	-	Active	NO
19	U17120MH1967PLC013669	CONFEDERATION OF INDIAN TEXTILE INDUSTRY	Director	04/03/2010	04/03/2010	30/09/2011	Active	NO
20	U74900MH2011PTC221479	Crowe Horwath HTL Consultants Private Limited	Director	02/09/2011	02/09/2011	-	Active	NO
21	U74120MH2013PTC243930	HTL CAPITAL ADVISORS PRIVATE LIMITED	Director	03/06/2013	03/06/2013	-	Active	NO
22	U74300MH1997PTC106950	Clear Channel Mumbai Private Limited	Additional director	28/06/2013	28/06/2013	-	Active	NO
23	U93000HR2013NPL051406	APPAREL MADE-UPS AND HOME FURNISHING SECTOR SKILL COUNCIL	Director	28/12/2013	28/12/2013	-	Active	NO
24	AAB-5539	KESHAVLAL TALAKCHAND (BOMBAY) LLP	Designated Partner	29/05/2013	29/05/2013	-	Active	NO

Name :

Mr. Vijay Premji Thacker

Designation :

Director

Address :

7/34, Shyam Niwas, Bhulabhai Desai Road, Mumbai - 400026, Maharashtra, India

Date of Birth/Age :

21.06.1960

Date of Appointment :

31.01.2001

DIN No. :

00761544

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	U74140MH1999PTC119850	Crowe Horwath Advisory Services Private Limited	Director	13/05/1999	13/05/1999	-	Active	NO
2	U67190MH1999PTC120622	CROWE HORWATH CONSULTANTS PRIVATE LIMITED	Director	08/07/1999	08/07/1999	-	Active	NO
3	U67190MH1999PTC120596	YASHASWINI CONSULTANTS PRIVATE LIMITED	Director	08/07/1999	08/07/1999	31/03/2008	Active	NO
4	U17120MH1994PTC079375	KAYTEE CORPORATION PRIVATE LIMITED	Director	31/01/2001	31/01/2001	-	Active	NO
5	U17120MH2003PTC143184	KAYTEE APPARELS PRIVATE LIMITED	Director	18/11/2003	18/11/2003	05/12/2011	Active	NO
6	U99999DL1993PLC054135	ICICI PRUDENTIAL ASSET MANAGEMENT COMPANY LIMITED	Director	15/06/2007	22/01/2007	-	Active	NO
7	U74900PN2008FTC131632	NETSHAPE ENGINEERING SERVICES PRIVATE LIMITED	Director	18/03/2008	18/03/2008	05/05/2008	Active	NO
8	U55101MH2008FTC183482	FHR HOTELS & RESORTS (INDIA) PRIVATE LIMITED	Director	12/06/2008	12/06/2008	01/07/2008	Active	NO
9	U55101MH2009FTC197869	TUNE HOSPITALITY SERVICES (INDIA) PRIVATE LIMITED	Director	15/12/2009	15/12/2009	31/12/2009	Active	NO
10	U74900MH2011PTC221479	Crowe Horwath HTL Consultants Private Limited	Director	02/09/2011	02/09/2011	-	Active	NO

Name :

Mr. Sarvanan Thangeraj

Designation :

Director

Address :

No. 3 KPN Colony, 3^rd Street Extension Tirupur - 641601, Tamilnadu, India

Date of Birth/Age :

15.05.1966

Date of Appointment :

04.05.2009

PAN No. :

AALKPS1623E

DIN No. :

02703399

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	U17120MH1994PTC079375	KAYTEE CORPORATION PRIVATE LIMITED	Director	04/05/2009	04/05/2009	-	Active	NO
2	U17110MH1992PTC069245	PREMIER KNIT PROCESSORS PVT LTD	Director	29/09/2012	26/09/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Mahendra Parekh
Designation :	General Manager in Finance

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2013

NOTE: SHAREHOLDING DETAILS FILE ATTACHED

As on 30.09.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	21.25
Directors or relatives of Directors	19.74
Other top fifty shareholders	59.01
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, Trader, Exporter and Importer of Knitted Garments.

Products :

Item Code No. (ITC Code)	Product Description
99872300	Garments
99612310	Yarn and Fabrics

Exports :

Products :

Garments

Countries :

• USA
• Germany
• Canada
• Italy

Imports :

Products :

Raw Material and Accessories Fabrics

Countries :

China

Hong Kong

Terms :

Selling :

L/C, Cash and Credit

Purchasing :

L/C, Cash and Credit

GENERAL INFORMATION

Customers :

Wholesalers

No. of Employees :

750 (Approximately)

Bankers :

• Punjab National Bank, PNB House, Fort, Mumbai – 400001, Maharashtra, India
• Bank of India Mumbai Overseas Branch,70-80, Mahatma Gandhi Road, Mezzaine Floor, Fort, Mumbai - 400023, Maharashtra, India

Facilities :

CC – Rs. 52.500 Millions

Export Packing Credit Rs. 135.000 Millions

SECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG TERM BORROWINGS
Rupee term loan from bank	0.100	1.300
Rupee term loan from others	13.785	10.094
Loans taken for fixed assets	0.094	0.307
SHORT TERM BORROWINGS
Loans repayable on demand	260.819	253.978
Total	274.798	265.679

Banking Relations :	--
Auditors :
Name :	Contractor, Nayak and Kishnadwala Chartered Accountants
Address :	Jash Chamber, 3^rd Floor, 7A Sir P.M. Road, Fort, Mumbai – 400001, Maharashtra, India
PAN No. :	AAAFM0421D
Subsidiaries :	Kaytee Apparels Private Limited CIN No.: U17120MH2003PTC143184
Parties where control exists / Enterprises over which Key Management Personnel exercise Significant Influence :	Premier Knit Processors Private Limited Cotyam Corporation Green Lifestyles Developers Private Limited CIN No.: U24110MH1972PTC015665

CAPITAL STRUCTURE

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
9000000	Equity Shares	Rs.10/- each	Rs.90.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
9000000	Equity Shares	Rs.10/- each	Rs.90.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	90.000	60.000	60.000
(b) Reserves & Surplus	57.822	61.004	106.137
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	147.822	121.004	166.137
(3) Non-Current Liabilities
(a) long-term borrowings	29.892	54.611	46.910
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	29.892	54.611	46.910
(4) Current Liabilities
(a) Short term borrowings	260.819	253.978	257.041
(b) Trade payables	24.741	54.942	65.601
(c) Other current liabilities	11.676	17.725	26.685
(d) Short-term provisions	4.993	4.105	5.060
Total Current Liabilities (4)	302.229	330.750	354.387
TOTAL	479.943	506.365	567.434
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	160.641	174.882	199.153
(ii) Intangible Assets	0.154	0.256	0.258
(iii) Capital work-in-progress	0.000	0.000	0.832
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	4.478	4.478	4.478
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	15.668	14.297	14.236
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	180.941	193.913	218.957
(2) Current assets
(a) Current investments	0.189	0.189	0.189
(b) Inventories	95.835	110.116	133.073
(c) Trade receivables	72.786	31.270	91.793
(d) Cash and cash equivalents	4.307	2.883	5.154
(e) Short-term loans and advances	122.506	166.994	118.268
(f) Other current assets	3.379	1.000	0.000
Total Current Assets	299.002	312.452	348.477
TOTAL	479.943	506.365	567.434

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2013	31.03.2012	31.03.2011
	SALES
	Income
	Other Income
	TOTAL	495.708	486.806	667.269
Less	EXPENSES
	TOTAL	485.097	516.437	664.701
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	10.611	(29.631)	2.568
Less/ Add	DEPRECIATION/ AMORTISATION	9.491	10.746	12.635
	PROFIT/ (LOSS) BEFORE TA	1.120	(40.377)	(10.067)
Less	TAX	0.000	0.000	0.000
	PROFIT/ (LOSS) AFTER TAX	1.120	(40.377)	(10.067)
	Earnings / (Loss) Per Share (Rs.)	0.12	(4.49)	(1.12)

Expected Sales (2013-2014): Rs.630.000 Millions

The above information has been parted by Mr. Mahendra Parekh

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	0.23	-8.29	-1.51
Return on Total Assets (PBT/Total Assets}	(%)	0.24	-8.05	-1.79
Return on Investment (ROI) (PBT/Networth)		0.01	-0.33	-0.06
Debt Equity Ratio (Total Debt /Networth)		1.97	2.55	1.83
Current Ratio (Current Asset/Current Liability)		0.99	0.94	0.98

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	60.000	60.000	90.000
Reserves & Surplus	106.137	61.004	57.822
Net worth	166.137	121.004	147.822
long-term borrowings	46.910	54.611	29.892
Short term borrowings	257.041	253.978	260.819
Total borrowings	303.951	308.589	290.711
Debt/Equity ratio	1.830	2.550	1.967

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Total Income	667.269	486.806	495.708
		(27.045)	1.829

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Total Income	667.269	486.806	495.708
Profit	(10.067)	(40.377)	1.120
	(1.51%)	(8.29%)	0.23%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
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	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

LITIGATION DETAILS

HIGH COURT OF BOMBAY

CASE DETAILS

BENCH: BOMBAY

Lodging No: SSL/3113/2009 Filing Date: 07.10.2009 Reg. No.: SS/2802/2009 Reg. Date: 06.11.2009

Petitioner: SBI GLOBAL FACTORS LIMITED Respondent: KAYTEE CORPORATION PRIVATE

LIMITED

Petn. Adv : PRADEK. ASHAR AND COMPANY (0)

District: MUMBAI

Bench: SINGLE

Status: Pre-Admission Category: MONETARY SUITS

Last Date: -- Stage: FORPLAINTS FOR REJECTION U/R

986 OF THE H.C. (O.S.0 RULES 1980

Last Coram: REGISTRAR(OS)/PROTHONOTARY & SR. MASTER

UNSECURED LOANS

PARTICULAR	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG TERM BORROWINGS
Intercorporate borrowing	3.700	3.700
Loans and advances from related parties	12.213	39.210
Total	15.913	42.910

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10457930	10/10/2013	20,000,000.00	Bank of India	Mumbai Overseas Branch, 70-80, Mahatma Gandhi Road, Mezzaine Floor, Fort, Mumbai, Maharashtra - 400023, INDIA	B88674924
2	10278521	03/03/2011	35,000,000.00	PUNJAB NATIONAL BANK	PNB HOUSE,SIR P.M. ROAD, FORT, MUMBAI, Maharashtra - 400001, INDIA	B10018166
3	10175206	30/07/2009	5,000,000.00	SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA	11-13 ATLANTA, NARIMAN POINT, 209-V K SHAH MARG., MUMBAI, Maharashtra - 400021, INDIA	A69441186
4	10114386	09/06/2008	24,000,000.00	Bank of India	Mumbai Corporate Banking Br. 70/80 M G road 1st Floor, Fort, Mumbai, Maharashtra - 400001, INDIA	A42052217
5	80067095	03/10/2005	45,000,000.00	Small Industries Development Bank of India	"SIDBU TOWERS" 15 Ashok Marg, Lucknow, Uttar Pradesh - 226001, INDIA	-
6	80037665	23/03/2009 *	344,000,000.00	Bank of India	Mumbai Overseas Branch, 70-80, Mahatma Gandhi Road, Mezzaine Floor, Fort, Mumbai, Maharashtra - 400023, INDIA	A60016508
7	80004121	19/05/2006 *	2,000,000.00	Bank of India	Tamtalao Branch , Mulgao, Vasai (West), Dist Thane, Vasai, Maharashtra - 410201, INDIA	-
8	80037666	09/06/2008 *	300,000,000.00	Bank of India	Mumbai Overseas Branch, 70-80, Mahatma Gandhi Road, Mezzaine Floor, Fort, Mumbai, Maharashtra - 400023, INDIA	A42037432
9	90158499	05/11/2004	18,000,000.00	UTI BANK LTD.	NARIMAN POINT BRANCH; ATLANTA, GROUND FLOOR; NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA	-
10	90160340	01/10/2004	15,000,000.00	BANK OF INDIA	MUMBAI FBB BRANCH, BANK OF INDIA BLDG.; 70/80; M. G. ROAD; FORT, MUMBAI, Maharashtra - 400023, INDIA	-
11	90155463	04/08/2004 *	18,400,000.00	SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA	11TH FLOOR; NARIMAN BHAVAN; 227, VINAK K. SHAH MARG; NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA	-
12	90155096	11/12/2000 *	276,600,000.00	BANK OF INDIA	MUMBAI CORPORATE BANKING BRANCH; 70/80, M.G. ROAD; FORT, MUMBAI, Maharashtra - 400023, INDIA	-
13	90156232	13/12/1995	30,000,000.00	INDUSTRIAL DEVELOPMENT BANK OF INDIA	IDBI TOWER, CUFFE PARADE, BOMBAY, Maharashtra - 400005, INDIA	-
14	90156039	08/12/2000 *	43,000,000.00	BANK OF INDIA	MUMBAI CORPORATE BANKING BRANCH; 70/80, M.G. ROAD; FORT, MUMBAI, Maharashtra - 400023, INDIA	-

* Date of charge modification

FIXED ASSETS

œ Land

œ Buildings

œ Plant and equipment

œ Furniture and fixtures

œ Vehicles

œ Office equipment

œ Leasehold improvements

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.60.10
UK Pound	1	Rs.99.85
Euro	1	Rs.82.58

INFORMATION DETAILS

Information Gathered by :	PRT
Report Prepared by :	ANK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		31

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.