MIRA INFORM REPORT

Report Date :

05.08.2014

IDENTIFICATION DETAILS

Name :	SUPREME COATED BOARD MILLS PRIVATE LIMITED (w.e.f. 26.03.2010)
Formerly Known As :	SUPREME DUPLEX BOARD MILLS PRIVATE LIMITED
Registered Office :	Plot No. 30, Ground Floor, RCC Building, New Star City, Payasambakkam, Chennai – 600052, Tamilnadu
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	30.06.2003
Com. Reg. No.:	18-051112
Capital Investment / Paid-up Capital :	Rs. 162.500 Millions
CIN No.: [Company Identification No.]	U21022TN2003PTC051112
IEC No.:	3504002077
PAN No.: [Permanent Account No.]	AAICS0080K
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Coated Duplex Board.
No. of Employees :	300 (Approximately) [In Office: 50 + In Factory : 250]

RATING & COMMENTS

MIRA’s Rating :

Ba (42)

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

Maximum Credit Limit :	USD 1290000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Management of the company has failed to file its financials of 2013 with government department. Mr. Sakti Nath, Executive Director provided general and financial statement for the year 2012, 2013 and 2014. As per financials, reserves of the company is low in 2014 However, company has performed well in the year 2014 with regards to improvement in sales and profit of the company. Overall financial position of the company is decent. However, trade relation are fair. Business is active. Payment terms are slow but correct. The company can be considered for business dealing at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – June 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
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

N E W S

As per the latest IMF study, the total weigh of emerging markets in the GDP of the world on a purchasing power parity basis has seen a sizeable shift. It highlights how as against 51 % in 2005, the emerging economies now account for close to 56 % of the global purchasing power GDP as per the latest survey. And with the emerging economies growing at a faster rate than their developed counterparts, there are every possibility that the their share goes up further in the coming years.  China may surpass the US over the next few years.

Politics and economics are very intricately connected. They tend to influence each other in ways that could be very complex and far-reaching. The prospects of the India’s economy have been seriously compromised due to political corruption. High inflation, poor standard of living are to a great extent a result of rampant corruption in the country. China on the other hand, seems to be facing diametrically opposite challenge. American hedge fund manager Jim Chanos has been keenly following the political and economic development in the dragon economy and has figured out something that is quite worrying. He is of the view that the Chinese economy could be heading toward trouble on account of new Chinese President Xi Jingping’s very aggressive anti-corruption drive. Chanos believes tat many things such as apartment sales, luxury products, etc. were largely bought with dirty money. And it is now beginning to impact consumption. This may indeed be bad news for an economy that is struggling to transition from an investment-driven export-oriented economy to a domestic consumption-driven economy.

A study published by Firstpost has revealed that asset classes like real estate and equities were the biggest beneficiaries of the liberalization policies.  A firm called Ciane Analytics studied returns from assets including equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate outperformed every other asset classes during the 23-year period with an annualized return of 20 % ! Equities came in second with annualized return of 15.5 % ! However, while these returns may seem mouthwatering, the fact is that the return from equities adjusted for inflation came down to just 7.1 %.

Some brief news are as under

. R-Power to buy Jaypee’s hydro assets

. Investors await justice in NSEL case

. India seeks MFN status from Pakistan ahead of meeting

. Ukrain’s clashes with rebels hinder MH17 crash investigation

. India exploring merger of state-owned hydro PSUs

..Higher costs weigh down profit growth to slowest in 9 quarters

..Wal-Mart to expand wholesale business in India

. GMR group moves to strengthen balance sheet

. Central Bank to sell 4 % stake to Life Insurance Corporation

. Tata Chemicals plans to raise up to Rs 10000 mn.

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 31-03-2014.

INFORMATION PARTED BY

Name :	Mr. Sakti Nath
Designation :	Executive Director
Contact No.:	91-9443718123
Date :	01.08.2014

LOCATIONS

Registered Office :	Plot No. 30, Ground Floor, RCC Building, New Star City, Payasambakkam, Chennai – 600052, Tamilnadu, India
Tel. No. :	Not Available
Mobile No. :	91-9443718123 (Mr. Shakti Nath)
Fax No. :	Not Available
E-Mail :	info@maharajca.com shakthinath@supremegroups.org supremegroupcompanies@gmal.com
Website :	www.suprmegroups.org
Corporate Office :	2/2205, Viswanatham Village, (Behind Sakkammal Kovil), Sivakasi – 626123, Tamilnadu, India
Tel. No. :	91-4562-279019
Fax No. :	91-4562-274669
Area :	193 Sq. ft.
Location :	Rented
Factory :	Survey No. 326-330, Vembakkottai, Sivakasi – 626131, Tamilnadu, India
Tel. No. :	91-4562-251200
Fax No. :	91-4562-284011
E-Mail :	sakthinath@supremegroups.org
Area :	110112 Sq.ft.
Location :	Owned

DIRECTORS

As on 29.09.2012

Name :

Mr. Mariappan Kaliappa Nadar

Designation :

Director

Address :

12-H/3, AVT Pudur Street, Sivakasi – 626123, Tamilnadu, India

Date of Birth/Age :

20.05.1955

Qualification :

Higher Secondary

Experience :

35 Years

Date of Appointment :

30.06.2003

DIN No. :

00156566

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	Company/ LLP Status	Defaulting status
1	U65933TN1996PTC036419	SUPREME POLYPACKS PRIVATE LIMITED	Director	28-08-1996	28-08-1996	Active	NO
2	U30006TN1996PTC036585	SUPREME FORMS PRIVATE LIMITED	Director	19-09-1996	19-09-1996	Active	NO
3	U21022TN2003PTC051112	SUPREME COATED BOARD MILLS PRIVATE LIMITED	Director	30-06-2003	30-06-2003	Active	NO

Name :

Mr. Kannan Kaliappa Nadar

Designation :

Director

Address :

12-H/3, AVT Pudur Street, Sivakasi – 626123, Tamilnadu, India

Date of Birth/Age :

08.05.1964

Qualification :

BBA

Experience :

26 Years

Date of Appointment :

30.06.2003

DIN No. :

00175959

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	Company/ LLP Status	Defaulting status
1	U65933TN1996PTC036419	SUPREME POLYPACKS PRIVATE LIMITED	Director	28-08-1996	28-08-1996	Active	NO
2	U30006TN1996PTC036585	SUPREME FORMS PRIVATE LIMITED	Director	19-09-1997	19-09-1997	Active	NO
3	U21022TN2003PTC051112	SUPREME COATED BOARD MILLS PRIVATE LIMITED	Director	30-06-2003	30-06-2003	Active	NO

Name :

Mr. Mariappan Thangeswari

Designation :

Director

Address :

12-H/3, AVT Pudur Street, Sivakasi – 626123, Tamilnadu, India

Date of Birth/Age :

27.04.1959

Qualification :

Higher Secondary

Experience :

30 Years

Date of Appointment :

30.06.2003

DIN No. :

00156610

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	Company/ LLP Status	Defaulting status
1	U65933TN1996PTC036419	SUPREME POLYPACKS PRIVATE LIMITED	Director	28-08-1996	28-08-1996	Active	NO
2	U30006TN1996PTC036585	SUPREME FORMS PRIVATE LIMITED	Director	19-09-1996	19-09-1996	Active	NO
3	U21022TN2003PTC051112	SUPREME COATED BOARD MILLS PRIVATE LIMITED	Director	30-06-2003	30-06-2003	Active	NO

Name :

Mr. Kumaresan Kaliappa Nadar

Designation :

Director

Address :

12-H/3, AVT Pudur Street, Sivakasi – 626123, Tamilnadu, India

Date of Birth/Age :

13.01.1969

Qualification :

Higher Secondary

Experience :

21 Years

Date of Appointment :

30.06.2003

DIN No. :

00175988

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	Company/ LLP Status	Defaulting status
1	U65933TN1996PTC036419	SUPREME POLYPACKS PRIVATE LIMITED	Director	28-08-1996	28-08-1996	Active	NO
2	U30006TN1996PTC036585	SUPREME FORMS PRIVATE LIMITED	Director	19-09-1997	19-09-1997	Active	NO
3	U21022TN2003PTC051112	SUPREME COATED BOARD MILLS PRIVATE LIMITED	Director	30-06-2003	30-06-2003	Active	NO

Name :

Mr. Sakti Nath

Designation :

Executive Director

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2012

Names of Shareholders	No. of Shares
M. Thangeswari	438150
K. Mariappan	59900
K. Kannan	31790
K. Shankar	27675
K. Kumaresan	28195
Supreme Polypacks Private Limited, India	96000
Supreme Forms Private Limited, India	129000
S. Mariappan	750
M. Sakthinath	12260
K. Kalaiselvi	17295
C. Anandha Babu	3300
M. DhanaLakshmi	8680
S. Nellaimathi	12180
K. Rathinam Ammal	6400
K. Ravindran	850
M. Sakthisree	21930
M. Parasakthi	450
T.K. Manoharan	9385
K. Rajeswari	12600
S. Rajamani	3000
N. Kamaraj	400
R. Pandiyarajan	560
S. Kalirajan	250
M. Sakthiraj	3000
S. Malarpriya	1000
Total	925000

As on 29.09.2012

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 :	Manufacturer of Coated Duplex Board.
Brand Name :	SUPREME
Exports :
Products :	White Coated Duplex Board
Countries :	· Srilanka UAE
Imports :
Products :	· Waste papers
Countries :	· USA Switzerland
Terms :
Selling :	Credit (60 Days)
Purchasing :	L/C and Credit (90 Days)

PRODUCTION STATUS (AS ON 31.03.2014)

Particulars	Unit	Installed Capacity	Actual Production
White Coated Duplex Board	Tons per day	150	110

GENERAL INFORMATION

Suppliers :

· Vipa Lausanne SA

Address: 1002, Lausanne C4, Galleries Benjamin Constant 1, Case Postable 7700, Switzerland.

Enviro Traders INC

Address : No.28, Finley Road, Edison, N.J.08817, USA

Customers :

· Saifi Trading Company

Address :No.96, New Moor Street, Colombo-12, Srilanka.

Golden Line Printing Press LLC

Address Address: P.O. Box No.35248, Sharjah, UAE.

No. of Employees :

300 (Approximately) [In Office: 50 + In Factory : 250]

Bankers :

· City Union Bank Limited, 13, Chairman N P S N Arumugam Road, Sivakasi - 626123, Tamilnadu, India

Bank of Baroda, 403/14h, Ayyan Complex, Opposite to Sivakasi Bus Stand, Sivakasi - 626123, Tamilnadu, India

· Bank of India

Facilities :

Cash Credit Limit : Rs. 350.000 Millions (From City Union Bank Limited)

SECURED LOANS	31.03.2014 (Rs. In Millions)
City Union Bank Limited
-Cash Credit and Packing Credit	315.465
-Term Loans	27.527
TIIC Term Loan	35.235
IDBI Bank Limited – Cash Credit	24.997
BOB – Term Loan	210.915
BOI – Term Loan	178.160
Total	792.299

Banking Relations :	--
Financial Institution :	Tamilnadu Industrial Investment Corporation Limited, No.692, Anna Salai, Nandanam, Chennai - 600035, Tamilnadu, India
Auditors :
Name :	T.S.Maharaj Chartered Accountants
Address :	150/50, New Road, Sivakasi – 626123, Tamilnadu, Indai
Tel. No. :	91-9443331180
E-Mail :	info@maharajca.com
Income-tax PAN of auditor or auditor's firm :	AFUPM0173P
Associates/Subsidiaries :	Supreme Polypacks (Private) Limited Address: 2/2205, Viswatham Village, Sivakasi – 626123, Tamilnadu, India Line of Business: Manufacture of Woven Sacks. Supreme Forms (Private) Limited Address: 2/2202, Behind Sakkammal Kovil, Sivakasi - 626123, Tamilnadu, India Line of Business: Manufacture of Computer Forms. Supreme Arts Crafts Address: 2/2202, Behind Sakkammal Kovil, Sivakasi - 6261233, Tamilnadu, India Line of Business: Manufacture of Cone Labels.

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
1,625,000	Equity Shares	Rs.100/- each	Rs. 162.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1,625,000	Equity Shares	Rs.100/- each	Rs. 162.500 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS			31.03.2014
SHAREHOLDERS FUNDS
1] Share Capital			162.500
2] Share Application Money			0.000
3] Reserves & Surplus			160.626
4] (Accumulated Losses)			0.000
NETWORTH			323.126
LOAN FUNDS
1] Secured Loans			792.299
2] Unsecured Loans			105.495
TOTAL BORROWING			897.794
DEFERRED TAX LIABILITIES			0.000
TOTAL			1220.920
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]			171.544
Capital work-in-progress			0.000
INVESTMENT			639.195
DEFERRED TAX ASSETS			0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories		264.798
	Sundry Debtors		150.483
	Cash & Bank Balances		1.637
	Other Current Assets		36.389
	Loans & Advances		11.418
Total Current Assets			464.725
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors
	Other Current Liabilities		10.794
	Provisions		43.750
Total Current Liabilities			54.544
Net Current Assets			410.181
MISCELLANEOUS EXPENSES			0.000
TOTAL			1220.920

SOURCES OF FUNDS	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	162.500	92.500
(b) Reserves & Surplus	112.814	106.293
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	70.000
Total Shareholders’ Funds (1) + (2)	275.314	268.793
(3) Non-Current Liabilities
(a) long-term borrowings	300.473	277.998
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	40.945	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	341.418	277.998
(4) Current Liabilities
(a) Short term borrowings	316.394	271.283
(b) Trade payables	21.118	25.702
(c) Other current liabilities	135.388	66.296
(d) Short-term provisions	16.178	36.745
Total Current Liabilities (4)	489.078	400.026
TOTAL	1105.810	946.817
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	232.468	256.197
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	266.551	130.144
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	124.500	98.500
Total Non-Current Assets	623.519	484.841
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	252.365	220.263
(c) Trade receivables	168.252	136.294
(d) Cash and cash equivalents	43.188	65.270
(e) Short-term loans and advances	18.486	40.149
(f) Other current assets	0.000	0.000
Total Current Assets	482.291	461.976
TOTAL	1105.810	946.817

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014
	SALES
		Income	949.243
		Other Income	53.084
		TOTAL (A)	1002.327
Less	EXPENSES
		Cost of Goods Sold	669.464
		Employee Expenses	26.711
		Electricity Charges	91.494
		Freight Inwards	11.261
		Electrical Maintenance	0.547
		Travelling Expenses	2.041
		Advertisement Expenses	0.110
		Stationery Expenses	0.493
		Bank Charges	3.728
		Audit Fees and Professional Fees	1.326
		Commission	0.496
		Directors Remuneration	2.419
		Other Expenses	28.083
		TOTAL (B)	838.173
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		164.154
Less	FINANCIAL EXPENSES (D)		68.937
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		95.217
Less/ Add	DEPRECIATION/ AMORTISATION (F)		43.405
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		51.812
Less	TAX (H)		4.000
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		47.812
	EARNINGS IN FOREIGN CURRENCY		NA
	Earnings / (Loss) Per Share (Rs.)		29.42

	PARTICULARS		31.03.2013	31.03.2012
	SALES
		Income	862.426	923.724
		Other Income	15.517	13.349
		TOTAL (A)	877.943	937.073
Less	EXPENSES
		Cost of Materials Consumed	558.842	635.524
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	10.879	-21.539
		Employees benefits expense	32.633	30.127
		Other expenses	147.135	124.711
		TOTAL (B)	749.489	768.823
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		128.454	168.250
Less	FINANCIAL EXPENSES (D)		65.723	58.947
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		62.731	109.303
Less/ Add	DEPRECIATION/ AMORTISATION (F)		53.865	51.791
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		8.866	57.512
Less	TAX (H)		2.345	14.957
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		6.521	42.555
	EARNINGS IN FOREIGN CURRENCY		NA	USD 19,05,988.69
	Earnings / (Loss) Per Share (Rs.)		4.01	46.01

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
PAT / Total Income	(%)	4.77	0.74	4.54
Net Profit Margin (PBT/Sales)	(%)	5.46	1.03	6.23
Return on Total Assets (PBT/Total Assets}	(%)	8.14	1.06	7.04
Return on Investment (ROI) (PBT/Networth)		0.16	0.03	0.21
Debt Equity Ratio (Total Debt/Networth)		2.78	2.24	2.04
Current Ratio (Current Asset/Current Liability)		8.52	0.99	1.15

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	923.724	862.426	949.243
		(6.636)	10.067

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	923.724	862.426	949.243
Profit	42.555	6.521	47.812
	4.61%	0.76%	5.04%

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	Yes
5]	Type of Business	No
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	Yes
18]	Major customers	Yes
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
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

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10415061	25/03/2013	50,000,000.00	IDBI BANK LIMITED	LIC BUILDING, IST FLOOR, NO.3, WEST MARRET STREET, MADURAI, TAMILNADU - 625001, INDIA	B71825657
2	10418747	28/02/2013	619,203,000.00	BANK OF BARODA	403/14H, AYYAN COMPLEX, OPP TO SIVAKASI BUS STAND, SIVAKASI, TAMILNADU - 626123, INDIA	B72895048
3	10333068	25/01/2012	287,500,000.00	BANK OF BARODA	403/14H, AYYAN COMPLEX, OPP TO SIVAKASI BUS STAND, SIVAKASI, TAMILNADU - 626123, INDIA	B31030562
4	10338991	12/01/2012	180,000,000.00	BANK OF INDIA	4TH FLOOR, "TARAPORE TOWERS", 826, ANNA SALAI,  CHENNAI, TAMILNADU - 600002, INDIA	B33608035
5	10294206	29/06/2011	8,300,000.00	TAMILNADU INDUSTRIAL INVESTMENT CORPORATION LIMITED	NO.692, ANNA SALAI,, NANDANAM, CHENNAI, TAMILNADU - 600035, INDIA	B15822265
6	10165407	30/04/2012 *	154,100,000.00	TAMILNADU INDUSTRIAL INVESTMENT CORPORATION LIMITED	NO.692, ANNA SALAI, NANDANAM, CHENNAI, TAMILNADU - 600035, INDIA	B38255634
7	10099999	11/01/2013 *	608,175,000.00	CITY UNION BANK LIMITED	13, CHAIRMAN N P S N ARUMUGAM ROAD, SIVAKASI, TAMILNADU - 626123, INDIA	B68376540
8	10160534	22/10/2007	142,175,000.00	CITY UNION BANK LIMITED	VEMBAKOTTAI ROAD., SIVAKASI, TAMIL NADU - 626123, INDIA	A33403254

* Date of charge modification

UNSECURED LOAN

PARTICULAR	31.03.2014 (Rs. In Millions)
Unsecured Loans	105.495
Total	105.495

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.61.02
UK Pound	1	Rs.102.69
Euro	1	Rs.81.91

INFORMATION DETAILS

Information Gathered by :	HNA
Analysis Done by :	SUM
Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--CREDIT LINES	1~10	4
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	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		42

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.