MIRA INFORM REPORT

Report Date :

01.04.2014

IDENTIFICATION DETAILS

Name :	PREM CONDUCTORS PRIVAT E LIMITED
Registered Office :	11-12, Swapana Complex, Near Mithakhali Six Roads, Navrangpura, Ahmedabad – 380 009, Gujarat
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	04.11.1963
Com. Reg. No.:	04-001240
Capital Investment / Paid-up Capital :	Rs.19.655 millions
CIN No.: [Company Identification No.]	U33121GJ1963PTC001240
TAN No.: [Tax Deduction & Collection Account No.]	AHMP00618C
PAN No.: [Permanent Account No.]	AABCP6700A
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Electrical Conductors.
No. of Employees :	70 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (33)

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

Maximum Credit Limit :	USD 588000
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 dip in profitability levels and below average financial performance. However, trade relations are fair. Business is active. Payment terms are slow but correct. The company can be considered for business dealing with some caution.

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	CRISIL
Rating	Long Term Rating: BB-
Rating Explanation	Moderate risk of default and high credit risk.
Date	September 11, 2013

Rating Agency Name	CRISIL
Rating	Short Term Rating: A4+
Rating Explanation	Minimal degree of safety and very high credit risk.
Date	September 11, 2013

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

INFORMATION PARTED BY

Name :	Mr. Pradip Ajayraj Mehta
Designation :	Whole-time Director
Contact No.:	91-9825060633
Date :	27.03.2014

LOCATIONS

Registered Office :	11-12, Swapana Complex, Near Mithakhali Six Roads, Navrangpura, Ahmedabad – 380 009, Gujarat, India
Tel. No.:	91-79-26444674/ 75
Mobile No.:	91-9825060633 (Mr. Pradip Ajayraj Mehta)
Fax No.:	91-79-22160551
E-Mail :	premudyog@yahoo.co.in
Administrative Office/ Factory 1 :	Block No.210, Santej Vadsar Road, Santej, Santej, Taluka Kalol, District Gandhinagar – 382 721, Gujarat, India
Tel. No.:	91-2764-286641/ 286533/ 286651
Factory 2 :	Survey No.1078/ 2/ 2, Near Hindutan Pencil, Naroli – 396 235 (Silvassa), Dadra and Nagar Haveli, India
Tel. No.:	91-260-2650148

DIRECTORS

AS ON 30.09.2013

Name :

Mr. Pradip Ajayraj Mehta

Designation :

Whole-time Director

Address :

A-1/2, Chinaibaug Society, Near Law Collage, Ellisbridge, Ahmedabad – 380 006, Gujarat, India.

Date of Birth/Age :

08.05.1959

Qualification :

M.S.

Date of Appointment :

25.09.1984

DIN No.:

00071786

PAN No.:

ABBPM8116H

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	U33121GJ1963PTC001240	PREM CONDUCTORS PRIVATE LIMITED	Whole-time director	25-09-1984	25-09-1984	-	Active	NO
2	U01135GJ1989PTC012007	GOPI FARM PRIVATE LIMITED	Director	28-03-1989	28-03-1989	-	Active	NO
3	U51909GJ1993PTC020365	HOLY VISION PRIVATE LIMITED	Director	07-10-1993	07-10-1993	-	Active	NO

Name :

Mr. Vinay Jaswantraj Nahar

Designation :

Director

Address :

T-18, Lovekush tenement, Near Yogashram Society, Satellite, Ahmedabad – 380 015, Gujarat, India

Date of Birth/Age :

06.04.1978

Qualification :

B. Com

Date of Appointment :

29.09.2012

DIN No.:

00071873

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	U01135GJ1989PTC012007	GOPI FARM PRIVATE LIMITED	Director	15-09-2004	15-09-2004	-	Active	NO
2	U29199GJ1968PTC001341	PREM UDYOG PRIVATE LIMITED	Director	24-04-2006	24-04-2006	-	Amalgamated	NO
3	U33121GJ1963PTC001240	PREM CONDUCTORS PRIVATE LIMITED	Director	29-09-2012	15-10-2011	-	Active	NO

Name :

Mr. Anil Parasmal Nahar

Designation :

Director

Address :

2, Arihant Flat, Opposite HDFC House, Near Mithakhali Six Road, Ahmedabad – 380 009, Gujarat, India

Date of Birth/Age :

29.06.1959

Qualification :

B. Com

Date of Appointment :

29.09.2012

DIN No.:

00071898

PAN No.:

AFPPN2370A

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	U29199GJ1968PTC001341	PREM UDYOG PRIVATE LIMITED	Director	01-03-1995	01-03-1995	-	Amalgamated	NO
2	U33121GJ1963PTC001240	PREM CONDUCTORS PRIVATE LIMITED	Director	29-09-2012	15-10-2011	-	Active	NO
3	U01135GJ1989PTC012007	GOPI FARM PRIVATE LIMITED	Additional director	01-02-2014	01-02-2014	-	Active	NO
4	U51909GJ1993PTC020365	HOLY VISION PRIVATE LIMITED	Additional director	10-03-2014	10-03-2014	-	Active	NO

Name :

Mr. Pooranraj Ghanpatraj Shah

Designation :

Director

Address :

Sunder Niwas, Shrimali Society, Nataji Marg, Mithakhali Six Road, Ahmedabad – 380 009, Gujarat, India

Date of Birth/Age :

21.11.1935

Qualification :

B. Sc.

Date of Appointment :

08.01.1964

DIN No.:

00071939

PAN No.:

ADCPS7813G

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	U33121GJ1963PTC001240	PREM CONDUCTORS PRIVATE LIMITED	Director	08-01-1964	08-01-1964	-	Active	NO
2	U34300HR1968PTC004858	HARYANA CONDUCTORS PRIVATE LIMITED	Director	21-03-1968	21-03-1968	-	Active	NO
3	L27203GJ1979PLC008050	P G FOILS LIMITED	Director	07-11-1979	07-11-1979	11-08-2007	Active	NO
4	U01135GJ1989PTC012007	GOPI FARM PRIVATE LIMITED	Director	28-03-1989	28-03-1989	-	Active	NO
5	U51909GJ1993PTC020365	HOLY VISION PRIVATE LIMITED	Director	07-10-1993	07-10-1993	-	Active	NO

Name :

Ms. Shailadevi Pooranraj Shah

Designation :

Director

Address :

Sunder Niwas, Near Mithakhali Six Road, Navarangapura, Ahmedabad – 380 009, Gujarat, India

Date of Birth/Age :

08.08.1939

Date of Appointment :

29.09.2012

DIN No.:

00071973

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	U29199GJ1968PTC001341	PREM UDYOG PRIVATE LIMITED	Director	16-07-1978	16-07-1978	-	Amalgamated	NO
2	U01135GJ1989PTC012007	GOPI FARM PRIVATE LIMITED	Director	28-03-1989	28-03-1989	-	Active	NO
3	U33121GJ1963PTC001240	PREM CONDUCTORS PRIVATE LIMITED	Director	29-09-2012	15-10-2011	-	Active	NO
4	U51909GJ1993PTC020365	HOLY VISION PRIVATE LIMITED	Additional director	10-03-2014	10-03-2014	-	Active	NO

Name :

Mr. Ashok Kumar Mehta

Designation :

Additional Director

Address :

A-1/2, Chinaibaug Flats, Near Law Garden, Ellisbridge, Ahmedabad – 380 006, Gujarat, India

Date of Birth/Age :

08.03.1957

Date of Appointment :

31.01.2014

DIN No.:

00071833

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	U20219GJ1985PTC008229	DELUXE PLYWOOD PRIVATE LIMITED	Managing director	15-06-1995	15-06-1995	-	Active	NO
2	U01135GJ1989PTC012007	GOPI FARM PRIVATE LIMITED	Director	01-04-1997	01-04-1997	-	Active	NO
3	U33121GJ1963PTC001240	PREM CONDUCTORS PRIVATE LIMITED	Additional director	31-01-2014	31-01-2014	-	Active	NO
4	U51909GJ1993PTC020365	HOLY VISION PRIVATE LIMITED	Additional director	10-03-2014	10-03-2014	-	Active	NO

Name :

Mr. Mukesh Ajayraj Mehta

Designation :

Additional Director

Address :

A-1/2, Chinaibaug Flats, Near Law Garden, Ellisbridge, Ahmedabad – 380 006, Gujarat, India

Date of Birth/Age :

19.03.1966

Date of Appointment :

31.01.2014

DIN No.:

00094005

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	U20219GJ1985PTC008229	DELUXE PLYWOOD PRIVATE LIMITED	Director	10-08-2005	10-08-2005	-	Active	NO
2	U33121GJ1963PTC001240	PREM CONDUCTORS PRIVATE LIMITED	Additional director	31-01-2014	31-01-2014	-	Active	NO
3	U01135GJ1989PTC012007	GOPI FARM PRIVATE LIMITED	Additional director	01-02-2014	01-02-2014	-	Active	NO
4	U51909GJ1993PTC020365	HOLY VISION PRIVATE LIMITED	Additional director	10-03-2014	10-03-2014	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2013

Note:

Shareholding details file attached.

AS ON 30.09.2013

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	34.39
Directors or relatives of directors	65.61
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Electrical Conductors.

Products :

Item Code No. (ITC Code)	84861000
Product Description	Conductor

Terms :

Selling :

Cash and Advance

Purchasing :

Cash and Advance

PRODUCTION STATUS [AS ON 31.03.2011]

Particulars	31.03.2011
(i) Class of Goods Manufactured	Conductor
(ii) Licenced Capacity *	N.A.
(iii) Installed Capacity * (* As certified by the management and not verified by the Auditors being technical matter)	12900 M.T.
(iv) Own Production (in M.T.)	6807.149

GENERAL INFORMATION

No. of Employees :

70 (Approximately)

Bankers :

Dena Bank, Ashram Road Branch, Ashram road, Ahmedabad – 380 009, Gujarat, India

Facilities :

CC – Rs.30.000 millions, LC – Rs.70.000 millions and BG – Rs.130.000 millions (From Dena Bank, Ashram Road Branch)

Secured Loans	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
SHORT-TERM BORROWINGS
Loans repayable on demand from banks	87.064	100.342
Total	87.064	100.342

Banking Relations :	--
Auditors :
Name :	Kapoor and Company Chartered Accountants
Address :	95, Hirabhai Market, Ahmedabad – 380 022, Gujarat, India
E-Mail:	kapoor.and.co@gmail.com
PAN No.:	AABFK8429N

CAPITAL STRUCTURE

AS ON 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
4500000	Equity Shares	Rs.10/- each	Rs.45.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1965500	Equity Shares	Rs.10/- each	Rs.19.655 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	19.655	19.250	19.250
(b) Reserves & Surplus	127.415	123.413	129.773
(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)	147.070	142.663	149.023
(3) Non-Current Liabilities
(a) Long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	3.500	3.950	0.000
(c) Other long term liabilities	5.933	11.905	17.877
(d) Long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	9.433	15.855	17.877
(4) Current Liabilities
(a) Short term borrowings	124.770	145.755	141.838
(b) Trade payables	106.608	47.976	116.083
(c) Other current liabilities	11.943	8.076	15.629
(d) Short-term provisions	3.079	2.918	4.368
Total Current Liabilities (4)	246.400	204.725	277.918
TOTAL	402.903	363.243	444.818
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	46.270	49.634	51.337
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.394
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.446	0.446	0.446
(c) Deferred tax assets (net)	0.000	0.000	2.373
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	46.716	50.080	54.550
(2) Current assets
(a) Current investments	0.020	0.020	0.000
(b) Inventories	85.507	77.643	130.686
(c) Trade receivables	169.376	143.775	172.496
(d) Cash and cash equivalents	63.267	46.209	50.530
(e) Short-term loans and advances	13.671	25.148	9.058
(f) Other current assets	24.346	20.368	27.498
Total Current Assets	356.187	313.163	390.268
TOTAL	402.903	363.243	444.818

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Revenue from Operation	1000.000 (Approximately)	1120.388	922.025
		Other Income	NA	14.720	3.152
		TOTAL (A)	NA	1135.108	925.177
Less	EXPENSES
		Increase/ Decrease in stock of finished goods	NA	1130.177	(5.283)
		Raw Material Consumed	NA		807.976
		Employees Expenses	NA		14.246
		Other Expenses	NA		65.766
		Vat and CST Paid	NA		27.996
		TOTAL (B)	NA	1130.177 (including financial expenses)	910.701
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		NA		14.476
Less	FINANCIAL EXPENSES (D)		NA		9.924
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		3.778	4.931	4.552
Less/ Add	DEPRECIATION/ AMORTISATION (F)		3.482	3.618	3.725
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		0.296	1.313	0.827
Less	TAX (H)		0.157	1.096	0.761
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		0.139	0.217	0.066
Less	Deferred Tax W/back		NA	NA	0.690
	Loss on impairment		NA	NA	4.204
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		NA	2.152	2.680
Less	APPROPRIATIONS
		Transfer from General Reserve	NA	NA	(4.300)
	BALANCE CARRIED TO THE B/S		NA	NA	2.152
	Earnings / (Loss) Per Share (Rs.)		0.07	0.11	NA

Expected Sales (2013-2014): Rs.1200.000 millions

The above information has been parted by Mr. Pradip Ajayraj Mehta (Whole-time Director).

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	NA	0.02	0.01
Net Profit Margin (PBT/Sales)	(%)	NA	0.12	0.09
Return on Total Assets (PBT/Total Assets}	(%)	0.07	0.36	0.19
Return on Investment (ROI) (PBT/Networth)		0.00	0.01	0.01
Debt Equity Ratio (Total Debt/Networth)		0.85	1.02	0.95
Current Ratio (Current Asset/Current Liability)		1.45	1.53	1.40

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(INR in Mlns.)	(INR in Mlns.)	(INR in Mlns.)
Share Capital	19.250	19.250	19.655
Reserves & Surplus	129.773	123.413	127.415
Net worth	149.023	142.663	147.070
Long-term borrowings	0.000	0.000	0.000
Short term borrowings	141.838	145.755	124.770
Total borrowings	141.838	145.755	124.770
Debt/Equity ratio	0.952	1.022	0.848

LOCAL AGENCY FURTHER INFORMATION

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	No
17) Major suppliers	No
18) Major customers	No
19) Payments terms	Yes
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	Yes
33) Voter ID No of Proprietor/Partner/Director, if available	No
34) External Agency Rating, if available	Yes

LITIGATION DETAILS:

HIGH COURT OF GUJARAT

TAX APPEAL No. 2579 of2010

Status : PENDING

( Converted from : ST/3104/2010 )

CCIN No : 001092201002579

Last Listing Date:

14/08/2012

Coram

· HONOURABLE MR.JUSTICE VIJAY MANOHAR SAHAI · HONOURABLE MR.JUSTICE N.V.ANJARIA

S.NO.	Name of the Petitioner	Advocate On Record
1	COMMISSIONER CENTRAL EXCISE CUSTOMS AND SERVICE TAX, VAPI	MR GAURANG H BHATT for: Appellant(s) 1

S.NO.	Name of the Respondant	Advocate On Record
1	PREM CONDUCTORS PRIVATE LIMITED	MR PARESH M DAVE for :Opponent(s) 1

Presented On	: 27/10/2010	Registered On	: 27/10/2010
Bench Category	: DIVISION BENCH	District	: VALSAD
Case Originated From	: THROUGH ADVOCATE	Listed	: 125 times
Stage Name	: FOR REGULAR ADMISSION

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Office Objection

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Classification	DB - OJ - TAX APPEAL - CENTRAL EXCISE ACT, 1944 - UNDER SECTION 35G
Act	CENTRAL EXCISES AND SALT ACT, 1944

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LowerCourt Details

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FIR Details

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Other Forums

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Detention Details

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Office Details

S. No.	Filing Date	Document Name	Advocate Name	Court Fee on Document	Document Details
1	15/08/2010	VAKALATNAMA	MR GAURANG H BHATT ADVOCATE for PETITIONER(s) 1	-	MR GAURANG H BHATT:1
2	08/10/2012	VAKALATNAMA	MR PARESH M DAVE ADVOCATE for RESPONDENT(s) 1	5	MR PARESH M DAVE:1
Linked Matters

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Applications

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Court Proceedings

S. No.	Notified Date	Court Code	Board Sr. No.	Stage	Action	Coram
1	23/11/2010	14	-	OFFICE OBJECTION (FILING STAGE)	NEXT DATE	· HONOURABLE MS.JUSTICE HARSHA DEVANI · HONOURABLE MR.JUSTICE H.B.ANTANI
2	15/12/2010	14	-	FOR OFFICE OBJECTION	DISMISSED @ ADM.STAGE	· HONOURABLE MS.JUSTICE HARSHA DEVANI · HONOURABLE MR.JUSTICE H.B.ANTANI
3	14/08/2012	3	23	OFFICE OBJECTION REMOVED	NEXT DATE	· HONOURABLE MR.JUSTICE VIJAY MANOHAR SAHAI · HONOURABLE MR.JUSTICE N.V.ANJARIA
Available Orders

S. No.	Case Details	Judge Name	Order Date	CAV	Judgement	Questions	Transferred
1	TAX APPEAL/2579/2010	· HONOURABLE MS.JUSTICE HARSHA DEVANI · HONOURABLE MR.JUSTICE H.B.ANTANI	15/12/2010	N	ORDER	-	Y
2	TAX APPEAL/2579/2010	· HONOURABLE MR.JUSTICE VIJAY MANOHAR SAHAI · HONOURABLE MR.JUSTICE N.V.ANJARIA	14/08/2012	N	ORDER	-	Y

INDEX OF CHARGES:

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10374933	25/08/2012	240,000,000.00	DENA BANK	ASHRAM ROAD BRANCH, ASHRAM ROAD, AHMEDABAD, GUJARAT - 380009, INDIA	B57448334

Unsecured Loans	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
SHORT-TERM BORROWINGS
Loans and advances from others	37.706	45.413
Total	37.706	45.413

Note:

The registered office of the company has been shifted from 211, New Cloth Market, Ahmedabad – 380 002, Gujarat to the present address w.e.f. 10.11.2012.

THE STATE OF AFFAIRS OF THE COMPANY:

The overall financial performance of the company during the year is satisfactory. However, they expect the situation will improve further during the current Accounting year.

FIXED ASSETS:

· Land

· Buildings

· Plant and Equipment

· Furniture and Fixtures

· Vehicles

· Office Equipment

· Computer Equipments

CMT REPORT (Corruption, Money Laundering & Terrorism]

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

1] INFORMATION ON DESIGNATED PARTY

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

2] Court Declaration :

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

3] Asset Declaration :

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

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

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

Charges or investigation registered against subject: None

7] Criminal Records

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

8] Affiliation with Government :

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

9] Compensation Package :

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

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

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

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

CONTRAVENTION

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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.10
UK Pound	1	Rs.99.85
Euro	1	Rs.82.57

INFORMATION DETAILS

Information Gathered by :	SVA
Report Prepared by :	SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	3
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	4
--CREDIT LINES	1~10	4
--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		33

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.