MIRA INFORM REPORT

Report Date :

27.08.2014

IDENTIFICATION DETAILS

Name :	INDRAYANI FERROCAST PRIVATE LIMITED
Registered Office :	Gat No.225, Alandi Markal Road, Village Dhanore, Taluka Khed, Pune – 412105, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	15.05.1995
Com. Reg. No.:	11-088354
Capital Investment / Paid-up Capital :	Rs.4.545 Millions
CIN No.: [Company Identification No.]	U27320MH1995PTC088354
TAN No.: [Tax Deduction & Collection Account No.]	PNEI00834B
PAN No.: [Permanent Account No.]	AAACI8271N
Legal Form :	Private Limited Liability Company
Line of Business :	The company is engaged in the manufacturing of M.S. Billets / H.C. Billets from M.S. Scrap.
No. of Employees :	Information denied by management

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

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

Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. There seems some dip in the profit of the company during 2013 however net worth of the company is satisfactory. General financial position of the company is normal and acceptable for business dealings. Trade relation are reported as fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered normal for business dealings 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.

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long Term Rating = BBB-
Rating Explanation	Moderate degree of safety. It carry moderate credit risk.
Date	29.05.2013

Rating Agency Name	CRISIL
Rating	Short Term Rating = A3
Rating Explanation	Moderate degree of safety. It carry higher credit risk.
Date	29.05.2013

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 31-03-2014.

INFORMATION DENIED BY

Name :	Mr. Sadashiv Patil
Designation :	Account Manager
Contact No.:	91-20-66294308
Date :	26.08.2014

LOCATIONS

Registered Office :	Gat No.225, Alandi Markal Road, Village Dhanore, Taluka Khed, Pune – 412 105, Maharashtra, India
Tel. No.:	91-2135-668926
Mobile No.:	91-9922675555 (Mr. Sachin Oswal)
Fax No.:	91-2135-668950
E-Mail :	amd_cs@rediffmail.com csadeshpande@gamil.com santgyaneshwar@rediffmail.com
Area :	10000 Sq. Ft.
Location :	Owned
Branch :	Kohinoor Estate, Building No. SC – 1, Office No. 3 and 4, 12 Mulla Road, Wakdewadi, Pune, Maharashtra, India
Tel. No.:	91-20-66294306 / 66294325

DIRECTORS

As on 30.09.2013

Name :

Mr. Premprakash Lacchiram Goyal

Designation :

Whole Time Director

Address :

S. No. 13, H.No.1+2+3+4, Kohinoor Residency, 3 Phase Planet Near Spicer College Aundh, Pune - 411007, Maharashtra, India

Date of Birth/Age :

10.11.1955

Date of Appointment :

01.10.2013

DIN No.:

00389633

Voter ID No.:

WZS7145204

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	U28910MH1995PTC089177	SANT GYANESHWAR STEELS PRIVATE LIMITED	Whole-time director	01/10/2013	05/06/1995	-	Active	NO
2	U28910MH1995PTC089176	SHRADDHA ISPAT PRIVATE LIMITED	Whole-time director	01/10/2013	20/06/1995	-	Active	NO
3	U27320MH1995PTC088354	INDRAYANI FERROCAST PRIVATE LIMITED	Whole-time director	01/10/2013	29/07/2001	-	Active	NO
4	U27100PN2010PTC135413	SAFAL ISPAT INDIA PRIVATE LIMITED	Director	28/01/2010	28/01/2010	-	Active	NO

Name :

Mr. Ashwinikumar Ramkumar Poddar

Designation :

Whole Time Director

Address :

130, Sindh Housing Society Road No.1, Aundh, Pune-411006, Maharashtra, India

Date of Birth/Age :

12.09.1960

Date of Appointment :

01.10.2013

DIN No.:

01447110

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	U28910MH1995PTC089176	SHRADDHA ISPAT PRIVATE LIMITED	Whole-time director	01/10/2013	02/06/2003	-	Active	NO
2	U27106PN1984PTC033322	AJINKYA ELECTROMELT PRIVATE LIMITED	Managing director	01/06/2004	01/06/2004	-	Active	NO
3	U27320MH1995PTC088354	INDRAYANI FERROCAST PRIVATE LIMITED	Whole-time director	01/10/2013	01/04/2008	-	Active	NO
4	U14106MH1997PTC110653	C'CURE BUILDING PRODUCTS PRIVATE LIMITED	Director	03/12/2009	03/12/2009	-	Active	NO
5	U27100PN2010PTC135413	SAFAL ISPAT INDIA PRIVATE LIMITED	Director	28/01/2010	28/01/2010	-	Active	NO
6	U74210PN2007PTC139629	PUSHPAK INFRACON PRIVATE LIMITED	Director	28/09/2011	21/01/2011	-	Active	NO

Name :

Mr. Ashok Sohanraj Oswal

Designation :

Whole Time Director

Address :

586/A, Flat No. 1 DCYFL-7, Girija Nayak Society, Gultekadi, Pune-411037, Maharashtra, India

Date of Birth/Age :

26.12.1963

Qualification :

Graduate

Date of Appointment :

01.10.2013

DIN No.:

01538046

Voter ID No.:

ZBR7179153

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	U28910MH1995PTC089176	SHRADDHA ISPAT PRIVATE LIMITED	Whole-time director	02/06/2003	02/06/2003	01/04/2008	Active	NO
2	U27320MH1995PTC088354	INDRAYANI FERROCAST PRIVATE LIMITED	Whole-time director	01/10/2013	01/04/2008	-	Active	NO

Name :

Mr. Sachin Deepchand Oswal

Designation :

Whole Time Director

Address :

586/A, Flat No. 1 DCYFL-7, Girija Nayak Society, Gultekadi, Pune-411037, Maharashtra, India

Date of Birth/Age :

11.02.1981

Qualification :

MBA

Date of Appointment :

01.10.2013

DIN No.:

01550047

Voter ID No.:

GWT1052471

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	U27106GA1994PTC001582	SHIRDI STEEL RE-ROLLERS PRIVATE LIMITED	Director	01/04/2002	01/04/2002	01/04/2008	Active	NO
2	U27320MH1995PTC088354	INDRAYANI FERROCAST PRIVATE LIMITED	Whole-time director	01/10/2013	01/04/2008	-	Active	NO

Name :

Mr. Vinodkumar Vedprakash Goyal

Designation :

Whole Time Director

Address :

S. No. 13, H.No.1+2+3+4, Kohinoor Residency, 3 Phase Planet Near Spicer College Aundh, Pune-411007, Maharashtra, India

Date of Birth/Age :

25.12.1957

Qualification :

Graduate

Date of Appointment :

01.10.2013

DIN No.:

01604780

Voter ID No.:

FGDI630813

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	U28910MH1995PTC089177	SANT GYANESHWAR STEELS PRIVATE LIMITED	Whole-time director	01/10/2013	05/06/1995	-	Active	NO
2	U27106GA1994PTC001582	SHIRDI STEEL RE-ROLLERS PRIVATE LIMITED	Whole-time director	01/10/2013	22/09/1997	-	Active	NO
3	U27320MH1995PTC088354	INDRAYANI FERROCAST PRIVATE LIMITED	Whole-time director	01/10/2013	29/07/2001	-	Active	NO
4	U27106PN1984PTC033322	AJINKYA ELECTROMELT PRIVATE LIMITED	Additional director	01/04/2008	01/04/2008	08/09/2008	Active	NO
5	U28910MH1995PTC089176	SHRADDHA ISPAT PRIVATE LIMITED	Whole-time director	01/10/2013	01/04/2008	-	Active	NO
6	U14106MH1997PTC110653	C'CURE BUILDING PRODUCTS PRIVATE LIMITED	Director	03/12/2009	03/12/2009	-	Active	NO
7	U27100PN2010PTC135413	SAFAL ISPAT INDIA PRIVATE LIMITED	Director	28/01/2010	28/01/2010	-	Active	NO

Name :

Mr. Aditya Arunkumar Poddar

Designation :

Whole Time Director

Address :

130, Sindh Housing Society Road No.1, Aundh, Pune-411006, Maharashtra, India

Date of Birth/Age :

17.12.1981

Date of Appointment :

01.10.2013

DIN No.:

01725241

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	U27106PN1984PTC033322	AJINKYA ELECTROMELT PRIVATE LIMITED	Whole-time director	20/08/2007	01/04/2000	-	Active	NO
2	U27320MH1995PTC088354	INDRAYANI FERROCAST PRIVATE LIMITED	Whole-time director	01/10/2013	01/04/2008	-	Active	NO
3	U28910MH1995PTC089176	SHRADDHA ISPAT PRIVATE LIMITED	Whole-time director	01/10/2013	01/04/2008	-	Active	NO

Name :

Mr. Mayank Vinod Goyal

Designation :

Director

Address :

S. No. 13, H.No.1+2+3+4, Kohinoor Residency, 3 Phase Planet Near Spicer College Aundh, Pune-411007, Maharashtra, India

Date of Birth/Age :

26.09.1984

Date of Appointment :

01.10.2013

DIN No.:

02061353

Voter ID No.:

WZS6181945

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	U27320MH1995PTC088354	INDRAYANI FERROCAST PRIVATE LIMITED	Whole-time director	01/10/2013	01/04/2008	-	Active	NO
2	U28910MH1995PTC089176	SHRADDHA ISPAT PRIVATE LIMITED	Whole-time director	01/10/2013	01/04/2008	-	Active	NO

Name :

Mr. Rahul Premprakash Goyal

Designation :

Whole Time Director

Address :

30, Akshay Villa, Ashiyana Park S. No. 255/1, Aundh, Pune, 411007, Maharashtra, India

Date of Appointment :

01.10.2013

DIN No.:

02250537

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	U27320MH1995PTC088354	INDRAYANI FERROCAST PRIVATE LIMITED	Whole-time director	01/10/2013	01/04/2008	-	Active	NO

KEY EXECUTIVE

Name :	Mr. Sadashiv Patil
Designation :	Account Manager

MAJOR SHAREHOLDERS

As on 30.09.2013

Names of Shareholders	No. of Shares
Ashok Sohanraj Oswal	2010
Aditya Arunkumar Poddar	1001
Amit Ashok Agarwal	1419
Arunkumar Ramkumar Poddar	983
Ashwinikumar Ramkumar Poddar	1001
Darshanadevi M. Agarwal	951
Deepchand Sonraj Oswal	1001
Gayatridevi A. Garg Agarwal	951
Madhu Arunkumar Poddar	2301
Neeru Agarwal	1
Prakash Sonraj Oswal	2001
Premprakash Lacchiram Goyal	1001
Punita Ashwinikumar Poddar	1401
Rajesh Sonraj Oswal	2001
Renuka Amit Garg Agarwal	938
Sangeeta Vijay Oswal	101
Sanjay Sonraj Oswal	2001
Savitridevi Ramkumar Poddar	3311
Sonraj Tarachand Oswal	1518
Uttamchand Sonraj Oswal	2001
Vijay Sonraj Oswal	1001
Vikas Premprakash Goyal	3249
Vinod Vedprakash Goyal	2449
Yatindra Ramesh Agarwal	1420
Yogesh Vedprakash Goyal	3801
Ajinkya Electromelt Private Limited, India	3001
Kashyap Ashwinikumar Poddar	636
Aakash Premprakash Goyal	2000
Total	45450

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2013

Category	Percentage
Bodies corporate	6.60
Directors or relatives of Directors	80.90
Other top fifty shareholders	12.50
Total	100.00

BUSINESS DETAILS

Line of Business :

The company is engaged in the manufacturing of M.S. Billets / H.C. Billets from M.S. Scrap.

Products :

Product Descriptions	ITC Code
Stainless Steel in Ingots	72181000

GENERAL INFORMATION

No. of Employees :

Information denied by management

Bankers :

· Axis Bank Limited, Trishul, 3rd Floor, Opposite Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad - 380006, Gujarat, India

· The Cosmos Co-Operative Bank Limited, (Khadki Branch), Shaniwar Peth, Pune - 411 030, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Long Term Borrowings
Rupee term loans from banks	0.000	10.312
Short Term Borrowings
Rupee term loans from banks	512.982	404.901
Total	512.982	415.213

Banking Relations :	--
Auditors :
Name :	V.K. Gujarathi and Company Chartered Accountants
Address :	Poonam Plaza, 403/4/5, Market Yard Road, Gultekdi, Pune - 411037, Maharashtra, India
Tel. No.:	91-20-24275398/ 99
PAN No.:	AAEFV0390A

CAPITAL STRUCTURE

As on 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.100/- each	Rs.5.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
45450	Equity Shares	Rs.100/- each	Rs.4.545 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	4.545	4.545	4.545
(b) Reserves & Surplus	216.432	199.833	166.607
(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)	220.977	204.378	171.152
(3) Non-Current Liabilities
(a) long-term borrowings	55.414	65.416	93.569
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	(71.860)	(24.436)
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	55.414	(6.444)	69.133
(4) Current Liabilities
(a) Short term borrowings	551.071	438.728	269.948
(b) Trade payables	0.000	0.000	0.000
(c) Other current liabilities	0.000	0.000	0.000
(d) Short-term provisions	79.378	70.554	59.063
Total Current Liabilities (4)	630.449	509.282	329.011
TOTAL	906.840	707.216	569.296
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	156.588	168.830	171.236
(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	76.268	54.760	29.914
(c) Deferred tax assets (net)	2.987	2.070	1.014
(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	235.843	225.660	202.164
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	358.356	189.548	139.738
(c) Trade receivables	180.448	216.570	165.797
(d) Cash and cash equivalents	3.579	1.663	1.913
(e) Short-term loans and advances	128.614	73.775	59.684
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	670.997	481.556	367.132
TOTAL	906.840	707.216	569.296

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	3,519.603	3,776.794	2,989.273
		Other Income	6.499	9.037	14.308
		TOTAL (A)	3,526.102	3,785.831	3,003.581
Less	EXPENSES
		Cost of Sales	3,462.318	3,690.394	2,887.967
		Sales, Administrative Expenses and Other Expenses	32.205	40.238	35.589
		TOTAL (B)	3,494.523	3,730.632	2,923.556
	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		31.579	55.199	80.025
Less	INTEREST		6.027	4.709	21.660
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		25.552	50.490	58.365
Less	DEPRECIATION/ AMORTISATION (F)		0.849	0.446	0.483
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)		24.703	50.044	57.882
Less	TAX (H)		8.104	16.818	17.374
	PROFIT/(LOSS) AFTER TAX (G-H) (I)		16.599	33.226	40.508
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		199.832	166.606	126.294
Less	APPROPRIATIONS		0.000	0.000	0.196
	BALANCE CARRIED TO THE B/S		216.431	199.832	166.606
	Earnings Per Share (Rs.)		365.21	NA	NA

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	0.47	0.88	1.35
Net Profit Margin (PBT/Sales)	(%)	0.70	1.33	1.94
Return on Total Assets (PBT/Total Assets}	(%)	2.98	7.69	10.75
Return on Investment (ROI) (PBT/Networth)		0.11	0.24	0.34
Debt Equity Ratio (Total Debt /Networth)		2.74	2.47	2.12
Current Ratio (Current Asset/Current Liability)		1.06	0.95	1.12

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	4.545	4.545	4.545
Reserves & Surplus	166.607	199.833	216.432
Net worth	171.152	204.378	220.977
long-term borrowings	93.569	65.416	55.414
Short term borrowings	269.948	438.728	551.071
Total borrowings	363.517	504.144	606.485
Debt/Equity ratio	2.124	2.467	2.745

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	2,989.273	3,776.794	3,519.603
		26.345	(6.810)

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	2,989.273	3,776.794	3,519.603
Profit	40.508	33.226	16.599
	1.36%	0.88%	0.47%

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	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	No
17]	Major suppliers	No
18]	Major customers	No
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	Yes
34]	External Agency Rating, if available	Yes

UNSECURED LOANS:

Particulars	31.03.2013 Rs. In Millions	31.03.2012 Rs. In Millions
Long Term Borrowings
Deferred payment liabilities	55.414	55.104
Short Term Borrowings
Other loans and advances, others	38.089	33.827
Total	93.503	88.931

OPERATIONS:

The unit has received very good response and the directors are hopeful for better working for next years.

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10481400	15/02/2014 *	2,420,000.00	Axis Bank Limited	Trishul 3rd Floor Opp Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad, Gujarat - 380006, India	C00330654
2	10363713	18/06/2012	150,000,000.00	The Cosmos Co-Operative Bank Limited	Khadki Branch, Pune, Maharashtra - 411030, India	B42906040
3	10128629	04/11/2008	17,100,000.00	The Cosmos Co-Operative Bank Limited	Khadki Branch, Pune, Maharashtra - 411030, India	A50253814
4	10128630	04/11/2008	43,900,000.00	The Cosmos Co-Operative Bank Limited	Khadki Branch, Pune, Maharashtra - 411030, India	A50254135
5	10087915	04/11/2008 *	22,500,000.00	The Cosmos Co-Operative Bank Limited	Khadki Branch, Pune, Maharashtra - 411030, India	A50254309
6	10087914	05/02/2011 *	50,000,000.00	The Cosmos Co-Operative Bank Limited	Khadki Branch, Pune, Maharashtra - 411030, India	B06788343
7	10087913	04/11/2008 *	97,500,000.00	The Cosmos Co-Operative Bank Limited	Khadki Branch, Pune, Maharashtra - 411030, India	A50253871
8	90087017	08/10/2012 *	650,000,000.00	The Cosmos Co-Operative Bank Limited	Khadki Branch, Pune, Maharashtra - 411030, India	B60435153
9	90085992	08/10/2012 *	200,000,000.00	The Cosmos Co-Operative Bank Limited	Khadki Branch, Pune, Maharashtra - 411030, India	B60434438
10	90085894	01/10/2001	11,500,000.00	The Cosmos Co-Operative Bank Limited	Khadki Branch, Pune, Maharashtra - 411030, India	-
11	90085883	24/09/2001	6,000,000.00	The Cosmos Co-Operative Bank Limited	Khadki Branch, Pune, Maharashtra - 411030, India	-

*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.60.50
UK Pound	1	Rs.100.33
Euro	1	Rs.79.91

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	DIV
Report Prepared by :	VNT

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	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--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	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		44

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.