MIRA INFORM REPORT

Report Date :

05.04.2014

IDENTIFICATION DETAILS

Name :	KANAKADHARA VENTURES PRIVATE LIMITED
Registered Office :	H No. 8-3-1114/1, Keshav Nagar, Srinagar Colony, Hyderabad – 500073, Andhra Pradesh
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	28.09.2005
Com. Reg. No.:	01-047611
Capital Investment / Paid-up Capital :	Rs.52.461 Millions
CIN No.: [Company Identification No.]	U70102AP2005PTC047611
TAN No.: [Tax Deduction & Collection Account No.]	HYDK02813G
PAN No.: [Permanent Account No.]	AACCK6555H
Legal Form :	Private Limited Liability Company
Line of Business :	Construction Activities
No. of Employees :	50 + Labours (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (34)

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

Maximum Credit Limit :	USD 2700000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The rating reflects moderate financial risk profile marked by stretched liquidity position and dip in profitability of the company during financial year 2013. 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	ICRA
Rating	Cash Credit = BB+
Rating Explanation	Moderate risk of default and high credit risk
Date	October 2013

Rating Agency Name	ICRA
Rating	Letter of Credit = A4+
Rating Explanation	Minimal degree of safety and very high credit risk
Date	October 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 (GENERAL DETAILS)

Name :	Ms. Pushpa
Designation :	Accounts Executive
Contact No.:	91-40-44543030
Date :	04.04.2014

LOCATIONS

Registered Office / Corporate Office / Head Office :	H No. 8-3-1114/1, Keshav Nagar, Srinagar Colony, Hyderabad – 500073, Andhra Pradesh, India
Tel. No.:	91-40-32988867 / 23404296 / 44543030
Fax No.:	91-40-44543039 / 44543030
E-Mail :	info@kanakadharaventures.com shankar@akasamconsulting.com
Website :	www.kanakadharaventures.com
Administrative Office :	6-3-680/ 8/ 3, Plot No.4, Sree Lakshmi Vishnu Sadan, R.A. Residency, Somajiguda, Hyderabad – 500 082, Andhra Pradesh, India
Tel. No.:	91-40-32988867
Regional Office:	# 1/1, 2^nd Floor, 8^th Main Shiva Nagar, 3^rd Block, Rajaji Nagar, Bangalore – 560010, Karnataka, India
Tel. No.:	91-80-23154712

DIRECTORS

As on 27.09.2013

Name :

Mr. Venkateswara Rao Pochi Raju

Designation :

Managing Director

Address :

Flat No.402, 6-2-10, Temple View Residency, Lakdi Ka Pul, Hyderabad – 500 004, Andhra Pradesh, India

Date of Birth/Age :

09.04.1961

Date of Appointment :

10.10.2008

PAN No.:

AEJPP5631D

DIN No.:

00531555

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	U70102AP2005PTC047611	KANAKADHARA VENTURES PRIVATE LIMITED	Managing director	10/10/2008	28/09/2005	-	Active	NO
2	U70102AP2008PTC057785	KANAKADHARA AVENUES PRIVATE LIMITED	Director	23/02/2008	23/02/2008	-	Active	NO
3	U24100AP2009PTC062594	INDIAN INSTITUTE OF BIOTECHNOLOGY PRIVATE LIMITED	Director	29/09/2011	19/08/2011	-	Active	NO
4	U45209AP2012PTC084392	KANAKADHARA INDIA PRIVATE LIMITED	Director	23/11/2012	23/11/2012	-	Active	NO

Name :

Mr. Shyam Sundar Bansal

Designation :

Director

Address :

2-3-540/13/14, d. V. Colony, Minister Road, Secunderabad, Hyderabad - 500003, Andhra Pradesh, India

Date of Birth/Age :

15.03.1963

Date of Appointment :

10.10.2008

DIN No.:

00156638

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	U27109AP1995PTC019634	TULJA BHAVANI ISPAT PRIVATE LIMITED	Director	08/03/1995	08/03/1995	-	Active	NO
2	U70102AP2005PTC047611	KANAKADHARA VENTURES PRIVATE LIMITED	Director	10/10/2008	10/10/2008	-	Active	NO

Name :

Mr. Venkata Subbarao Boggarapu

Designation :

Director

Address :

D. No. 11-5-413-302, 3^rd Floor, Red Hills, Hyderabad – 500004, Andhra Pradesh, India

Date of Birth/Age :

03.04.1972

Date of Appointment :

23.09.2005

PAN No.:

AFDPB0879E

DIN No.:

00531349

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	U70102AP2005PTC047611	KANAKADHARA VENTURES PRIVATE LIMITED	Director	28/09/2005	28/09/2005	-	Active	NO
2	U70102AP2008PTC057785	KANAKADHARA AVENUES PRIVATE LIMITED	Director	23/02/2008	23/02/2008	-	Active	NO
3	U51909WB2009PTC131722	EXQUISITE TRADECOM PRIVATE LIMITED	Director	27/05/2010	27/05/2010	-	Active	NO
4	U45209AP2012PTC084392	KANAKADHARA INDIA PRIVATE LIMITED	Director	23/11/2012	23/11/2012	-	Active	NO

Name :

Mr. Laxminarayana Ambati

Designation :

Director

Address :

8-3-841/E/3A, Ameerpet, Hyderabad – 500016, Andhra Pradesh, India

Date of Birth/Age :

02.01.1953

Date of Appointment :

27.09.2013

DIN No.:

03488382

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	U85110AP2010PTC067666	POSITIVE PULSE HOSPITALS PRIVATE LIMITED	Additional director	31/03/2011	31/03/2011	01/09/2011	Active	NO
2	U70102AP2005PTC047611	KANAKADHARA VENTURES PRIVATE LIMITED	Director	27/09/2013	21/03/2013	-	Active	NO

Name :

Mr. Suresh Babu Kulluru

Designation :

Director

Address :

Flat No. 316, 3^rd Floor 8-3-324, Krishana Apartment, Yellareddy Guda, Hyderabad – 500073, Andhra Pradesh, India

Date of Birth/Age :

15.02.1972

Date of Appointment :

10.10.2007

PAN No.:

AKJPB9328H

DIN No.:

01807842

Name :

Mr. Ramesh Babu Amuri

Designation :

Director

Address :

1-10-116, Ashok Nagar, Hyderabad – 500020, Andhra Pradesh, India

Date of Birth/Age :

01.06.1962

Date of Appointment :

10.10.2007

PAN No.:

ADCPB9781A

DIN No.:

01807865

Name :

Mr. Anji Reddy Nalamalapu

Designation :

Director

Address :

Plot NO. 119, #8-4-371/B/1, Saradhi Nagar, Kalyan Nagar Phase III, Hyderabad – 500018, Andhra Pradesh, India

Date of Birth/Age :

09.07.1968

Date of Appointment :

28.09.2005

DIN No.:

00531418

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	U70102AP2005PTC047611	KANAKADHARA VENTURES PRIVATE LIMITED	Director	28/09/2005	28/09/2005	-	Active	NO
2	U29191AP2005PTC047321	INKOLLU COLD STORAGE PRIVATE LIMITED	Director	01/02/2008	01/02/2008	-	Active	NO

Name :

Mr. Sreenivas Tanikella

Designation :

Director

Address :

8-3-324/A/G3, Yella Reddy, Hyderabad – 500073, Andhra Pradesh, India

Date of Birth/Age :

06.05.1964

Date of Appointment :

10.10.2007

PAN No.:

ACIPT3067A

DIN No.:

01807803

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	U70102AP2005PTC047611	KANAKADHARA VENTURES PRIVATE LIMITED	Director	10/10/2007	10/10/2007	-	Active	NO
2	U51909WB2009PTC131722	EXQUISITE TRADECOM PRIVATE LIMITED	Director	27/05/2010	27/05/2010	-	Active	NO
3	U45209AP2014PTC092334	KANAKADHARA INFRA PROJECTS PRIVATE LIMITED	Additional director	24/01/2014	24/01/2014	-	Active	NO

Name :

Mr. Mallaiah Gunda

Designation :

Director

Address :

16-2-751/C/4/A/116, Tirumala Hills, Asmangadh, Hyderabad – 500 036, Andhra Pradesh, India

Date of Birth/Age :

24.01.1957

Date of Appointment :

10.10.2008

DIN No.:

01922808

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	U70102AP2005PTC047611	KANAKADHARA VENTURES PRIVATE LIMITED	Director	10/10/2008	10/10/2008	-	Active	NO
2	U92111AP2004PLC044327	KLR MEDIA LIMITED	Director	30/09/2011	11/04/2011	-	Active	NO

KEY EXECUTIVES

Name :	Ms. Pushpa
Designation :	Accounts Executive

MAJOR SHAREHOLDERS

As on 27.09.2013

Names of Shareholders	No. of Shares	% of Holding
Venkateswara Rao Pochi Raju	1490913	28.42
Boggarapu Venkata Subbarao	1367919	26.07
Suresh Babu Kulluru	208826	3.98
T. Dasa Bharani	104413	1.99
Nalamalpu Anji Reddy	59665	1.14
Ashok Kumar Ammuri	149161	2.84
Kanaka raja Shetty	149162	2.84
Ramesh Babu Ammuri	149162	2.84
Shyam Sundar Bansal	626478	11.94
Malikarjun V. Chitta	56000	1.07
Astik Suppliers Private Limited, India	280000	5.34
Kanakadhara Avenues Private Limited, India	500000	9.53
T. Srinivas	104413	1.99
Total	5246112	100.00

Equity Share Break up (Percentage of Total Equity)

As on 27.09.2013

Category	Percentage
Bodies corporate	15.00
Directors or relatives of Directors	85.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Construction Activities

Products :

Products Description	ITC Code
Units used by the families	99531121
Construction Services of hospitals, clinics	99541293

Terms :

Selling :

L/C and Credit

Purchasing :

L/C and Credit

GENERAL INFORMATION

Customers :

End Users

No. of Employees :

50 + Labours (Approximately)

Bankers :

• HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel West, Mumbai - 400013, Maharashtra, India
• Punjab National Bank, Large Corporate Branch, Centenary Building, No.28, M G Road, Bangalore – 560001, Karnataka, India
• Union Bank of India, Railway Station Road Branch, D.No.140 To 143, Near Gurudwara, Rezimental Bazar, Secunderabad, Andhra Pradesh - 500025, India

Facilities :

SECURED LOANS	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Long Term Borrowings
Loans taken for fixed assets (first charge on hypothecation of current assets and gross block)	3.386	6.207
Short Term Borrowings
Working capital loans from banks	380.337	434.046
Loans repayable on demand	29.354	0.000
Total	413.077	440.253

Banking Relations :	--
Auditors :
Name :	Akasam and Associates Chartered Accountants
Address :	Level 2, Akasam 10-1-17/1/1, Masab Tank, Hyderabad – 500028, Andhra Pradesh, India
PAN No.:	AADFA6112E
Common key Managerial Personnel :	Kanakadhara Avenues Private Limited
Enterprise Over Which relatives of Key Managerial Personnel are exercising significant Influence :	Kanakadhara Constructions (Firm )
Relatives of Key Managerial Personnel :	Niraj Steel Corporation

CAPITAL STRUCTURE

As on 27.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
6000000	Equity Shares	Rs.10/- each	Rs.60.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5246112	Equity Shares	Rs.10/- each	Rs.52.461 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	52.461	37.632	37.632
(b) Reserves & Surplus	616.515	479.767	371.155
(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)	668.976	517.399	408.787
(3) Non-Current Liabilities
(a) long-term borrowings	3.386	6.207	33.908
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	290.949	347.476	451.605
(d) long-term provisions	3.922	6.228	4.366
Total Non-current Liabilities (3)	298.257	359.911	489.879
(4) Current Liabilities
(a) Short term borrowings	424.600	435.775	381.384
(b) Trade payables	1,161.494	939.847	616.664
(c) Other current liabilities	270.830	326.872	433.885
(d) Short-term provisions	151.410	150.279	95.985
Total Current Liabilities (4)	2,008.334	1,852.773	1,527.918
TOTAL	2,975.567	2,730.083	2,426.584
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	48.803	54.109	33.203
(ii) Intangible Assets	0.561	0.935	0.372
(iii) Capital work-in-progress	10.888	6.846	2.584
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	3.364	2.000	1.000
(c) Deferred tax assets (net)	1.981	1.968	1.945
(d) Long-term Loan and Advances	6.713	7.006	5.939
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	72.310	72.864	45.043
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	392.077	362.893	321.961
(c) Trade receivables	691.073	745.531	470.116
(d) Cash and cash equivalents	201.750	210.133	144.879
(e) Short-term loans and advances	330.300	333.337	251.083
(f) Other current assets	1,288.057	1,005.325	1,193.502
Total Current Assets	2,903.257	2,657.219	2,381.541
TOTAL	2,975.567	2,730.083	2,426.584

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	2063.257	2344.679	2141.282
		Other Income	NA	NA	NA
		TOTAL	NA	NA	NA
	EXPENSES		NA	NA	NA
Less	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		225.116	291.439	260.702
Less	FINANCIAL EXPENSES		98.451	116.548	89.685
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		126.665	174.891	171.017
Less	DEPRECIATION/ AMORTISATION		9.748	9.020	7.892
	PROFIT/(LOSS) BEFORE TAX		116.917	165.871	163.125
Less	TAX		39.485	57.259	56.785
	PROFIT/(LOSS) AFTER TAX		77.432	168.612	106.340
	Earnings Per Share (Rs.)		14.76	28.26	28.26

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Net Profit Margin (PBT/Sales)	(%)	5.67	7.07	7.62
Return on Total Assets (PBT/Total Assets}	(%)	3.95	6.10	6.74
Return on Investment (ROI) (PBT/Networth)		0.17	0.32	0.40
Debt Equity Ratio (Total Debt /Networth)		0.64	0.85	1.02
Current Ratio (Current Asset/Current Liability)		1.45	1.43	1.56

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	37.632	37.632	52.461
Reserves & Surplus	371.155	479.767	616.515
Net worth	408.787	517.399	668.976
long-term borrowings	33.908	6.207	3.386
Short term borrowings	381.384	435.775	424.600
Total borrowings	415.292	441.982	427.986
Debt/Equity ratio	1.016	0.854	0.640

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
Sales	2,141.282	2,344.679	2,063.257
		9.499	-12.003

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Sales	2,141.282	2,344.679	2,063.257
Profit	106.340	168.612	77.432
	4.97%	7.19%	3.75%

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	No
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)	No
21]	Market information	----------
22]	Litigations that the firm / promoter involved in	----------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	----------
26]	Buyer visit details	----------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

UNSECURED LOANS:

Particulars	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Short Term Borrowings
Other loans and advances	14.909	1.729
Totals	14.909	1.729

FINANCIAL RESULTS

During this financial year they have completed and handed over one more Hospital at Peenya which is a Green Building and all the other projects are progressing as per the schedule. Company has an order book position of around Rs.6000.000 Millions which is to be executed in the next 18 to 24 months. The Company is confident of completing these projects in time. The company has participated in many Tenders and the discussions are in pipeline and it is expected that the company would secure new \projects in the next financial year.

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10478891	22/01/2014	6,000,000.00	HDFC BANK LIMITED	HDFC Bank House Senapati Bapat Marg, Lower Parel W, Mumbai, Maharashtra - 400013, India	B96892799
2	10221729	03/12/2011 *	1,880,000,000.00	Punjab National Bank	Large Corporate Branch, Centenary Building, No.28, M G Road, Bangalore, Karnataka - 560001, India	B29831658
3	10198350	23/12/2009	400,000,000.00	ANDHRA BANK	Somajiguda Branch, #6-3-353/2, Upper Ground Floor, Astral Heights, Road No.1, Banjara Hills,, Hyderabad, Andhra Pradesh - 500034, India	A77637197
4	10191983	09/12/2009	350,000,000.00	IDBI BANK LIMITED	Specialized Corporate Branch, #5-9-89/1, Ii Floor, Chapel Road,, Hyderabad, Andhra Pradesh - 500001, India	A75737585
5	10192082	20/07/2013 *	557,500,000.00	PUNJAB NATIONAL BANK	Large Corporate Branch, Centenary Building, No.28, M G Road, Bangalore, Karnataka - 560001, India	B81596272
6	10133993	15/05/2013 *	670,000,000.00	Union Bank of India	Railway Station Road Branch, D.No.140 To 143, Near Gurudwara, Rezimental Bazar, Secunderabad, Andhra Pradesh - 500025, India	B77399525

*Date of modification Charges

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

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.60.12
UK Pound	1	Rs.100.07
Euro	1	Rs.82.74

INFORMATION DETAILS

Information Gathered by :	PLK
Analysis Done by :	KAR
Report Prepared by :	VNT

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	4
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--CREDIT LINES	1~10	3
--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		34

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.