MIRA INFORM REPORT

Report Date :

14.04.2014

IDENTIFICATION DETAILS

Name :	MARSHALL CASTING LIMITED
Registered Office :	23, Hanuman Road, Cannought Place, New Delhi - 110001
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	14.09.1995
Com. Reg. No.:	55-072430
Capital Investment / Paid-up Capital :	Rs.15.084 Millions
CIN No.: [Company Identification No.]	U74899DL1995PLC072430
TAN No.: [Tax Deduction & Collection Account No.]	DELM08129C
PAN No.: [Permanent Account No.]	AAACM6370Q
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturing of all grades of Grey Iron Casting (C.I) and Ductile Iron Casting (S.G)
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

B (29)

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

Maximum Credit Limit :	USD 133600
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. Company has incurred loss from its operation in the 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.

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

MANAGEMENT NON CO-OPERATIVE (91-129-4028360)

LOCATIONS

Registered Office :	23, Hanuman Road, Cannought Place, New Delhi - 110001
Tel. No. :	Not Available
Fax No. :	Not Available
E-Mail :	info@marshallindia.com accounts@marshallindia.com
Website :	www.marshallcastings.com
Head Office / Factory :	390-393, Sector-24, Faridabad-121005, Haryana, India
Tel. No.:	91-129-3194777 / 4028360

DIRECTORS

As on 28.09.2013

Name :

Mr. Darshan Lal Chopra

Designation :

Director

Address :

House No – 457, Sector – 14, Faridabad – 121007, Haryana, India

Date of Birth/Age :

18.05.1958

Date of Appointment :

14.09.1995

DIN No. :

00109813

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	U74899DL1994PTC061865	MARSHALL AUTO CAST PRIVATE LIMITED	Director	03/10/1994	03/10/1994	-	Active	NO
2	U74899DL1994PTC061879	MARSHALL FOUNDRY AND ENGG PRIVATE LIMITED	Director	03/10/1994	03/10/1994	-	Active	NO
3	U74899DL1995PLC072430	MARSHALL CASTINGS LIMITED	Director	14/09/1995	14/09/1995	-	Active	NO
4	U74899DL1995PLC073262	MARSHALL CAPITAL LIMITED	Director	17/10/1995	17/10/1995	-	Active	NO
5	U63001DL1997PTC084583	MARSHALL AGRO TECH PRIVATE LIMITED	Director	21/01/1997	21/01/1997	-	Active	NO
6	U24225DL1997PTC085564	MARSHALL HOSPITAL PRIVATE LIMITED	Director	04/03/1997	04/03/1997	-	Active	NO
7	U34300DL1997PLC085615	MARSHALL AUTO INDUSTRIES LIMITED	Director	05/03/1997	05/03/1997	-	Active	NO
8	U29299DL1998PTC094677	MARSHALL AUTO PRODUCTS PRIVATE LIMITED	Director	25/06/1998	25/06/1998	-	Active	NO
9	U27102DL1998PTC097436	MARSHALL FOUNDRY WORKS PRIVATE LIMITED	Director	14/12/1998	14/12/1998	-	Active	NO
10	U27310DL1989PTC097435	MARSHALL DIE CASTING PRIVATE LIMITED	Director	14/12/1998	14/12/1998	-	Active	NO
11	U34300DL1998PTC097434	MARSHALL AUTO ANCILLARIES PRIVATE LIMITED TRNS FROM HARYANA	Director	14/12/1998	14/12/1998	-	Active	NO
12	U34300DL1999PLC100504	MARSHALL AUTO ENGG LTD	Director	02/07/1999	02/07/1999	-	Active	NO
13	U74899DL2001PLC054238	MARSHALL EXPORTS LIMITED	Director	01/12/2001	01/12/2001	-	Active	NO
14	U34300DL2003PLC122693	MARSHALL AUTOZONE LIMITED.	Director	17/10/2003	17/10/2003	-	Active	NO
15	U51909DL2004PTC124023	EAGLE GLIDE EXIM PRIVATE LIMITED	Director	12/01/2004	12/01/2004	-	Active	NO
16	U34300DL2004PTC125099	EURO SHOK ABSORBER PRIVATE LIMITED	Director	10/03/2004	10/03/2004	-	Active	NO
17	U34320DL2004PTC130972	VELFORM AUTOMOTIVE PRIVATE LIMITED	Director	06/12/2004	06/12/2004	-	Active	NO
18	U34300DL2005PTC132966	APPLE AUTOMOTIVE PRIVATE LIMITED	Director	14/02/2005	14/02/2005	-	Active	NO
19	U19201HR1996PTC032988	SIHANI ENGG PVT LTD	Director	25/01/2007	25/01/2007	-	Active	NO
20	U70109DL2008PLC182994	Planet Nine Developers Limited	Director	08/09/2008	08/09/2008	-	Active	NO
21	U34300MH2007PLC250865	BMR HVAC LIMITED	Director	27/02/2013	27/02/2013	-	Active	NO

Name :

Ms. Saloni Chopra

Designation :

Director

Address :

House No – 457, Sector – 14, Faridabad – 121007, Haryana, India

Date of Birth/Age :

12.06.1961

Date of Appointment :

23.11.1996

DIN No. :

00111133

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	U74899DL1995PLC072430	MARSHALL CASTINGS LIMITED	Director	23/11/1996	23/11/1996	-	Active	NO
2	U24225DL1997PTC085564	MARSHALL HOSPITAL PRIVATE LIMITED	Director	04/03/1997	04/03/1997	-	Active	NO
3	U34300DL1997PLC085615	MARSHALL AUTO INDUSTRIES LIMITED	Director	05/03/1997	05/03/1997	-	Active	NO
4	U27102DL1998PTC097436	MARSHALL FOUNDRY WORKS PRIVATE LIMITED	Director	14/12/1998	14/12/1998	-	Active	NO
5	U27310DL1989PTC097435	MARSHALL DIE CASTING PRIVATE LIMITED	Director	14/12/1998	14/12/1998	-	Active	NO
6	U34300DL1999PLC100504	MARSHALL AUTO ENGG LTD	Director	02/07/1999	02/07/1999	-	Active	NO
7	U74899DL2001PLC054238	MARSHALL EXPORTS LIMITED	Director	03/02/2010	03/02/2010	-	Active	NO
8	U34320DL2004PTC130972	VELFORM AUTOMOTIVE PRIVATE LIMITED	Director	03/02/2010	03/02/2010	-	Active	NO
9	U34300DL2004PTC125099	EURO SHOK ABSORBER PRIVATE LIMITED	Director	03/02/2010	03/02/2010	-	Active	NO
10	U34300DL2005PTC132966	APPLE AUTOMOTIVE PRIVATE LIMITED	Director	03/02/2010	03/02/2010	-	Active	NO

Name :

Ms. Poonam Chopra

Designation :

Director

Address :

House No – 674, Sector – 14, Faridabad – 121007, Haryana, India

Date of Birth/Age :

19.06.1961

Date of Appointment :

23.11.1996

DIN No. :

00111215

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	U74899DL1994PTC061865	MARSHALL AUTO CAST PRIVATE LIMITED	Director	03/10/1994	03/10/1994	-	Active	NO
2	U74899DL1995PLC072430	MARSHALL CASTINGS LIMITED	Director	23/11/1996	23/11/1996	-	Active	NO
3	U24225DL1997PTC085564	MARSHALL HOSPITAL PRIVATE LIMITED	Director	04/03/1997	04/03/1997	-	Active	NO
4	U27102DL1998PTC097436	MARSHALL FOUNDRY WORKS PRIVATE LIMITED	Director	14/12/1998	14/12/1998	-	Active	NO
5	U34300DL1998PTC097434	MARSHALL AUTO ANCILLARIES PRIVATE LIMITED TRNS FROM HARYANA	Director	14/12/1998	14/12/1998	-	Active	NO
6	U34300DL1999PLC100504	MARSHALL AUTO ENGG LTD	Director	02/07/1999	02/07/1999	-	Active	NO
7	U34300DL2003PLC122693	MARSHALL AUTOZONE LIMITED.	Director	03/02/2010	03/02/2010	-	Active	NO

Name :

Mr. Inderjeet Chopra

Designation :

Director

Address :

House No – 674, Sector – 14, Faridabad – 121007, Haryana, India

Date of Birth/Age :

05.02.1955

Date of Appointment :

14.09.1995

DIN No. :

00115789

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	U74899DL1994PTC061879	MARSHALL FOUNDRY AND ENGG PRIVATE LIMITED	Director	03/10/1994	03/10/1994	-	Active	NO
2	U74899DL1995PLC072430	MARSHALL CASTINGS LIMITED	Director	14/09/1995	14/09/1995	-	Active	NO
3	U74899DL1995PLC073262	MARSHALL CAPITAL LIMITED	Director	17/10/1995	17/10/1995	-	Active	NO
4	U63001DL1997PTC084583	MARSHALL AGRO TECH PRIVATE LIMITED	Director	21/01/1997	21/01/1997	-	Active	NO
5	U34300DL1997PLC085615	MARSHALL AUTO INDUSTRIES LIMITED	Director	05/03/1997	05/03/1997	-	Active	NO
6	U29299DL1998PTC094677	MARSHALL AUTO PRODUCTS PRIVATE LIMITED	Director	25/06/1998	25/06/1998	-	Active	NO
7	U27102DL1998PTC097436	MARSHALL FOUNDRY WORKS PRIVATE LIMITED	Director	14/12/1998	14/12/1998	-	Active	NO
8	U27310DL1989PTC097435	MARSHALL DIE CASTING PRIVATE LIMITED	Director	14/12/1998	14/12/1998	-	Active	NO
9	U34300DL1998PTC097434	MARSHALL AUTO ANCILLARIES PRIVATE LIMITED TRNS FROM HARYANA	Director	14/12/1998	14/12/1998	-	Active	NO
10	U34300DL1999PLC100504	MARSHALL AUTO ENGG LTD	Director	02/07/1999	02/07/1999	-	Active	NO
11	U74899DL2001PLC054238	MARSHALL EXPORTS LIMITED	Director	01/12/2001	01/12/2001	-	Active	NO
12	U19201HR1996PTC032988	SIHANI ENGG PVT LTD	Director	25/01/2007	25/01/2007	-	Active	NO
13	U34300DL2003PLC122693	MARSHALL AUTOZONE LIMITED.	Director	03/02/2010	03/02/2010	-	Active	NO
14	U34320DL2004PTC130972	VELFORM AUTOMOTIVE PRIVATE LIMITED	Director	03/02/2010	03/02/2010	-	Active	NO
15	U51909DL2004PTC124023	EAGLE GLIDE EXIM PRIVATE LIMITED	Director	03/02/2010	03/02/2010	-	Active	NO
16	U34300DL2005PTC132966	APPLE AUTOMOTIVE PRIVATE LIMITED	Director	03/02/2010	03/02/2010	-	Active	NO
17	U34300MH2007PLC250865	BMR HVAC LIMITED	Managing director	27/02/2013	27/02/2013	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 28.09.2013

Names of Shareholders	No. of Shares	%age
Devvrat Lal Chopra	112000	7.43
Vivek Raj Chopra (HUF)	25000	1.66
Poonam Chopra	149600	9.92
Vivek Chopra	110000	7.29
Diwakar Lal Chopra	116000	7.69
Dewan D. Lal Chopra	116850	7.75
Dewan D. Lal Chopra (HUF)	215000	14.25
Inderjeet Chopra	237530	15.75
Inder and Sons (HUF)	233000	15.45
Saloni Chopra	193400	12.82
Total	1508380	100.00

As on 28.09.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing of all grades of Grey Iron Casting (C.I) and Ductile Iron Casting (S.G)

PRODUCTION STATUS AS ON (31.03.2013)

Particulars	Unit	Actual Production
C.I. Castings	Nos.	7392100
C.I. Castings	Kgs.	3100

GENERAL INFORMATION

Customers :

· Eicher Limited

· Escorts Limited

· Ford

· LML Limited

· Royal Enfield

· Hero Motors

· LG

· TATA

· Luk India Private limited

· Oswal Electricals

· Bhargava Expert Services, Delhi

· Suyash Industrial Oil, Faridabad

· Meta Flux, Faridabad

· New Arora Generators, Faridabad

· Vishal Engineering Workshop, Noida

· Universal Engineers, Faridabad

· Sun Sands Private Limited, Alwar

No. of Employees :

Not Divulged

Bankers :

Canara Bank, 8a, Nehru Ground, NIT, Faridabad – 121001, Haryana, India

Facilities :

SECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
SHORT TERM BORROWINGS
Canara Bank, Main branch, Faridabad	33.811	29.451
Total	33.811	29.451

Banking Relations :	--
Financial Institution :	Reliance Home Finance Limited, 570, Rectifier House, 3^rd Floor, Naigaum Cross Road, Wadala, Mumbai - 400031, Maharashtra, India
Auditors :
Name :	Suresh C Gupta and Associates Chartered Accountants
Address :	B 28/1, Wazirpur Industrial Area, Delhi – 11052, India
PAN No. :	AAPFS6422F

CAPITAL STRUCTURE

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
1750000	Equity Shares	Rs.10/- each	Rs.17.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1508380	Equity Shares	Rs.10/- each	Rs.15.084 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	15.084	15.084	15.084
(b) Reserves & Surplus	18.336	18.376	18.355
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	3.000
Total Shareholders’ Funds (1) + (2)	33.420	33.460	36.439
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.957	0.957	0.957
(d) long-term provisions	23.507	20.908	13.625
Total Non-current Liabilities (3)	24.464	21.865	14.582
(4) Current Liabilities
(a) Short term borrowings	33.811	29.451	26.293
(b) Trade payables	34.499	5.691	22.294
(c) Other current liabilities	0.010	0.005	0.005
(d) Short-term provisions	0.138	0.150	0.245
Total Current Liabilities (4)	68.458	35.297	48.837
TOTAL	126.342	90.622	99.858
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	17.296	17.727	18.280
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(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	17.296	17.727	18.280
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	60.338	39.629	53.238
(c) Trade receivables	45.275	31.791	26.776
(d) Cash and cash equivalents	0.158	0.076	0.078
(e) Short-term loans and advances	3.195	1.399	1.486
(f) Other current assets	0.080	0.000	0.000
Total Current Assets	109.046	72.895	81.578
TOTAL	126.342	90.622	99.858

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	170.316	163.379	171.690
		Other Income	0.018	0.000	0.000
		TOTAL	170.334	163.379	171.690
Less	EXPENSES
		Cost of Materials Consumed	143.459	139.909	155.348
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(0.143)	0.110	(0.008)
		Employees benefits expense	16.243	15.587	8.422
		Other expenses	3.001	2.438	3.047
		TOTAL	162.560	158.044	166.809
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		7.774	5.335	4.881
Less	FINANCIAL EXPENSES		6.436	3.946	2.901
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		1.338	1.389	1.980
Less/ Add	DEPRECIATION/ AMORTISATION		1.240	1.205	1.241
	PROFIT/ (LOSS) BEFORE TAX		0.098	0.184	0.739
Less	TAX		0.139	0.163	0.245
	PROFIT/ (LOSS) AFTER TAX		(0.041)	0.021	0.494
	Earnings / (Loss) Per Share (Rs.)		(0.03)	0.01	0.33

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	(0.02)	0.01	0.29
Net Profit Margin (PBT/Sales)	(%)	0.06	0.11	0.43
Return on Total Assets (PBT/Total Assets}	(%)	0.08	0.20	0.74
Return on Investment (ROI) (PBT/Networth)		0.00	0.01	0.02
Debt Equity Ratio (Total Debt/Networth)		1.01	0.88	0.72
Current Ratio (Current Asset/Current Liability)		1.59	2.07	1.67

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	15.084	15.084	15.084
Reserves & Surplus	18.355	18.376	18.336
Net worth	33.439	33.460	33.420
long-term borrowings	0.000	0.000	0.000
Short term borrowings	26.293	29.451	33.811
Total borrowings	26.293	29.451	33.811
Debt/Equity ratio	0.786	0.880	1.012

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	171.690	163.379	170.316
		(4.841)	4.246

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	171.690	163.379	170.316
Profit	0.494	0.021	(0.041)
	0.29%	0.01%	(0.02%)

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	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	No
17]	Major suppliers	No
18]	Major customers	Yes
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	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

NOTE

The registered address of the company has been shifted from 1568-A, Sachdeva Palace Building, M-103, Bhagirath Palace, New Delhi – 110006, India to the present address w.e.f 01.04.2011

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10394051	06/12/2012	23,000,000.00	RELIANCE HOME FINANCE LIMITED	570, Rectifier House, 3rd Floor, Naigaum Cross Road, Wadala, Mumbai, Maharashtra - 400031, INDIA	B64884026
2	10204106	15/02/2010	1,752,000.00	CANARA BANK	8A, Nehru Ground, NIT, Faridabad, Haryana - 121001, INDIA	A79718433
3	10064246	26/03/2013 *	41,000,000.00	Canara Bank	8A, Nehru Ground, NIT, Faridabad, Haryana - 121001, INDIA	B74319146

* Date of charge modification

FIXED ASSETS

œ Land and Building

œ Plant and Machinery

œ 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.60.27
UK Pound	1	Rs.101.10
Euro	1	Rs.83.74

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	SUM
Report Prepared by :	ANK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	4
--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	NO
--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		29

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.