MIRA INFORM REPORT

Report Date :

28.08.2014

IDENTIFICATION DETAILS

Name :	TWENTY FIRST CENTURY WIRE ROADS LIMITED
Registered Office :	E- 220, Greater Kailash – I, New Delhi – 110048
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	08.10.1996
Com. Reg. No.:	55-082467
Capital Investment / Paid-up Capital :	Rs.80.000 Millions
CIN No.: [Company Identification No.]	U27100DL1996PLC082467
Legal Form :	A Closely Held Public Limited Liability Company.
Line of Business :	Manufacturer Sponge Iron, Mild Steel (MS) Ingots and Billets
No. of Employees :	Information denied by management

RATING & COMMENTS

MIRA’s Rating :

B (31)

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

Status :	Moderate
Payment Behaviour :	Unknown
Litigation :	Exist
Comments :	Subject is an established company having moderate track record. Management of the company not filed its latest financial i.e. March 2013 with the government department. As per ROC the date of balance sheet (i.e., financial filed) is shown as 31.03.2012 but the documents related to the financial for the year 2012 are not available from any sources As per the available financial of march 2011, there seems a drastic dip in the profits of the company However, trade relations are reported to be fair. Business is active. Payments terms are unknown. The company can be considered for business dealings 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 – 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	CARE
Rating	Long Term Bank Facilities = BBB
Rating Explanation	Moderate degree of safety. Its carry moderate credit risk.
Date	April 2014

Rating Agency Name	CARE
Rating	Short Term Bank Facilities = A3
Rating Explanation	Moderate degree of safety. Its carry higher credit risk.
Date	April 2014

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

Management Non Co-Operative (Tel No.: 91-22-65062076)

LOCATIONS

Registered Office :	E- 220, Greater Kailash – I, New Delhi – 110048, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	info@twentyfirstcentury.co mumbai@twentyfirstcentury.co
Website :	www.twentyfirstcentury.co
Corporate Office :	No 501, Garden View, Gulmohar Park, Gulmohar Road, JVPD Juhu, Mumbai – 400049, Maharashtra, India
Tel. No.:	91-11-65062076
Factory 1 :	Survey No. 108/8/3, Surangi Road, Khadol, Silvassa, Dadra and Nagar Haveli, UT, India

DIRECTORS

As on 29.09.2011

Name :

Mr. Darshan Bharat Churiwala

Designation :

Director

Address :

Flat No. 2, Manmndir Apartment, Indra Narayane Lane, Santracruz (West), Mumbai – 400049, Maharashtra, India

Date of Birth/Age :

09.12.1978

Date of Appointment :

06.11.2000

DIN No.:

00319952

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	U27100DL1996PLC082467	TWENTY FIRST CENTURY WIRE RODS LIMITED	Director	06/11/2000	06/11/2000	-	Active	NO
2	U45200MH1999PLC122749	TWENTY FIRST CENTURY IRON AND STEELS LIMITED	Director	06/11/2000	06/11/2000	20/11/2013	Active	NO
3	U99999MH1973PLC016744	NIKHIL ALLOY STEELS LIMITED	Director	03/01/2002	03/01/2002	-	Active	NO
4	U13209KA2007PTC044704	Janthakal Mining Company Private Limited	Director	18/12/2007	18/12/2007	-	Active	NO
5	U99999DL1997PTC084227	SUNRISE PRECISIONS PRIVATE LIMITED	Additional director	14/01/2008	14/01/2008	12/05/2008	Active	NO
6	U52100GJ2008PTC055050	NIJINOY TRADING PRIVATE LIMITED	Additional director	20/01/2009	20/01/2009	23/05/2009	Active	NO
7	U45201MH2011PTC214055	ASHAPURI JAIN LAND DEVELOPERS PRIVATE LIMITED	Director	22/09/2012	10/08/2012	-	Active	NO
1	U27100DL1996PLC082467	TWENTY FIRST CENTURY WIRE RODS LIMITED	Director	06/11/2000	06/11/2000	-	Active	NO

Name :

Mr. Nikhil Vinod Goel

Designation :

Director

Address :

301/ 302, Vikas Villa Janki Kutir, Juhu, Ville Parle (West), Mumbai – 400049, Maharashtra, India

Date of Birth/Age :

26.03.1985

Date of Appointment :

16.04.2003

DIN No.:

02091583

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	U27100DL1996PLC082467	TWENTY FIRST CENTURY WIRE RODS LIMITED	Director	16/04/2003	16/04/2003	-	Active	NO
2	U99999MH1973PLC016744	NIKHIL ALLOY STEELS LIMITED	Director	28/07/2005	28/07/2005	-	Active	NO
3	U45200MH1999PLC122749	TWENTY FIRST CENTURY IRON AND STEELS LIMITED	Director	05/05/2008	05/05/2008	-	Active	NO
4	U92400MH2010PTC200628	MASCOT LIFE STYLE PRIVATE LIMITED	Director	08/03/2010	08/03/2010	-	Active	NO

Name :

Mr. Gaurav Vinod Kumar Goel

Designation :

Director

Address :

301/ 302, Vikas Villa Janki Kutir, Juhu, Ville Parle (West), Mumbai – 400049, Maharashtra, India

Date of Birth/Age :

13.12.1981

Date of Appointment :

20.06.2009

DIN No.:

00372790

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	U45200MH1999PLC122749	TWENTY FIRST CENTURY IRON & STEELS LIMITED	Director	01/02/2000	01/02/2000	-	Active	NO
2	U27100DL1996PLC082467	TWENTY FIRST CENTURY WIRE RODS LIMITED	Director	01/02/2000	01/02/2000	-	Active	NO
3	U92400MH2010PTC200628	MASCOT LIFE STYLE PRIVATE LIMITED	Director	08/03/2010	08/03/2010	-	Active	NO

Name :

Mr. Vinod Goel

Designation :

Director

Address :

301/ 302, Vikas Villa Janki Kutir, Juhu, Ville Parle (West), Mumbai – 400049, Maharashtra, India

Date of Birth/Age :

31.03.1958

Date of Appointment :

20.06.2009

DIN No.:

00372973

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	U99999MH1973PLC016744	NIKHIL ALLOY STEELS LIMITED	Managing director	08/08/1978	08/08/1978	17/01/2013	Active	NO
2	U13209KA2007PTC044704	JANTHAKAL MINING COMPANY PRIVATE LIMITED	Director	18/12/2007	18/12/2007	05/11/2011	Active	NO
3	U52100GJ2008PTC055050	NIJINOY TRADING PRIVATE LIMITED	Additional director	20/01/2009	20/01/2009	23/05/2009	Active	NO
4	U27100DL1996PLC082467	TWENTY FIRST CENTURY WIRE RODS LIMITED	Director	20/06/2009	20/06/2009	-	Active	NO
5	U45200MH1999PLC122749	TWENTY FIRST CENTURY IRON & STEELS LIMITED	Director	20/06/2009	20/06/2009	08/10/2013	Active	NO
6	U45201MH2011PTC214055	ASHAPURI JAIN LAND DEVELOPERS PRIVATE LIMITED	Additional director	06/09/2011	06/09/2011	24/09/2011	Active	NO

Name :

Mr. Naval Kishore Vasu

Designation :

Additional Director

Address :

684, Sector 20 A, Chandigarh – 160019, Punjab, India

Date of Birth/Age :

11.08.1956

Date of Appointment :

29.09.2012

DIN No.:

02232215

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	U17114DL1996PTC081741	BHAVNA EXIM PRIVATE LIMITED	Director	01/04/2005	01/04/2005	21/12/2012	Active	NO
2	U27100DL1996PLC082467	TWENTY FIRST CENTURY WIRE RODS LIMITED	Additional director	29/09/2012	01/04/2008	-	Active	NO
3	U45200MH1999PLC122749	TWENTY FIRST CENTURY IRON & STEELS LIMITED	Director	01/07/2008	01/07/2008	-	Active	NO

Name :

Sundaram Balasubramanian

Designation :

Director

Address :

E-103 Raheja Atlantis Sector-31 Gurgaon 122001 Haryana India

Date of Birth/Age :

03/11/1942

Date of Appointment :

17.10.2013

DIN No.:

02849971

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	L45203UP2007PLC033119	Jaypee Infratech Limited	Director	21/09/2010	16/11/2009	-	Active	NO
2	L74999AP2005PLC059013	GVK POWER & INFRASTRUCTURE LIMITED	Director	31/07/2010	30/04/2010	-	Active	NO
3	L21019WB1981PLC034161	EMAMI PAPER MILLS LIMITED	Director	30/07/2010	05/05/2010	-	Active	NO
4	L27106WB1966PLC101410	GONTERMANN - PEIPERS (INDIA) LIMITED	Director	25/08/2010	28/07/2010	13/08/2012	Active	NO
5	L22300MH1990PLC056397	Crest Animation Studios Limited	Director	27/09/2010	23/08/2010	03/08/2013	Active	NO
6	L25209HR2003PLC035034	MACHINO PLASTICS LIMITED	Director	29/07/2011	28/05/2011	-	Active	NO
7	U45400DL2007PTC166910	UNITECH WIRELESS (TAMILNADU) PRIVATE LIMITED	Director	18/11/2011	18/08/2011	10/10/2012	Active	NO
8	U74900DL2012PLC240502	LAND INTERACTIVE MEDIA LIMITED	Additional director	27/09/2013	27/09/2013	01/01/2014	Active	NO
9	U27100DL1996PLC082467	TWENTY FIRST CENTURY WIRE RODS LIMITED	Director	17/10/2013	17/10/2013	-	Active	NO
10	U04520KA2005PTC036737	MALNAD PROJECTS PRIVATE LIMITED	Additional director	24/12/2013	24/12/2013	-	Active	NO

Name :

Ms. Smita Harish Kuber

Designation :

Nominee Director

Address :

C – 21, Maker Kundan Garden, Juhu Tara Road, Santacruz (West), Mumbai, Maharashtra, India

Date of Birth/Age :

10.01.1974

Date of Appointment :

28.08.2013

DIN No.:

06709736

KEY EXECUTIVES

Name :	Ms. Meena Bhatia
Designation :	Finance Manager

MAJOR SHAREHOLDERS

As on 29.09.2011

Names of Shareholders	No. of Shares
Nikhil Goel	1834800
Bharat Churiwala	7500
Mohita Churiwala	12500
Sujata Goel	1529800
Namrata Churiwala	5000
Pooja Churiwala	5000
Pramod Churiwala	7500
Rajiv Choudhary	12500
Gaurav Goel	2204005
Darshan Churiwala	200000
Vinod Goel	2181395
Total	8000000

Equity Share Break up (Percentage of Total Equity)

As on 29.09.2011

Category	Percentage
Directors or relatives of Directors	80.00
Other	20.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer Sponge Iron, Mild Steel (MS) Ingots and Billets

Products :

Product	ITC Code
Wire Rode	7229

· Iron Ore

· Sponge Iron

· Billets

· Structural Steel

· Stainless Steel (Alloy Steel)

PRODUCTION STATUS (As on 31.03.2010)

Particulars	Units	Production
M.S. Ingots	MT	9815484
D.R.I.	MT	7502140
Runner and Riser	MT	289330
M.S. Billets	MT	17127505
M.S. End Cutting	MT	350000
M.S. Joists	MT	11129005

GENERAL INFORMATION

No. of Employees :

Information denied by management

Bankers :

· IDBI Bank Limited, IDBI Towerwtc Complex, Cuffe Parade, Mumbai - 00005, Maharashtra, India

· HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai, Maharashtra, India

· ING VYSYA Bank Limited, 22, Ground Floor, ING VYSYA House, M.G.ROAD, Bangalore - 560001, Karnataka, India

Facilities :

SECURED LOANS	31.03.2011 Rs. In Millions	31.03.2010 Rs. In Millions
Working capital loans secured	373.213	355.643
Total	373.213	355.643

Banking Relations :	--
Financial Institutions :	Reliance Capital Limited, H Block 1^st Floor, Dhirubhai Ambani Knowledge City, Koperkhairne, Navi Mumbai – 400710, Maharashtra, India
Auditors :
Name :	S. V. Dedhia and Associates Chartered Accountants
Address :	201, Hans Apartment, Opposite Dagdi Municipal School, Nton Francies Road, Charai, Thane (West) – 400601, Maharashtra, India
PAN No.:	AIXPG5832D
Related Parties :	Twenty First Century Iron and Steels Limited, India CIN : U45200MH1999PLC122749

CAPITAL STRUCTURE

As on 29.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
15000000	Equity Shares	Rs.10/- each	Rs.150.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
8000000	Equity Shares	Rs.10/- each	Rs.80.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		80.000	80.000	80.000
2] Share Application Money		520.000	0.000	0.000
3] Reserves & Surplus		375.569	372.884	342.209
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		975.569	452.884	422.209
LOAN FUNDS
1] Secured Loans		373.213	355.643	223.886
2] Unsecured Loans		0.000	138.560	11.884
TOTAL BORROWING		373.213	494.203	235.770
DEFERRED TAX LIABILITIES		14.161	16.658	21.876
TOTAL		1362.943	963.745	679.855
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		320.747	355.402	343.598
Capital work-in-progress		0.000	0.000	44.789
INVESTMENT		434.450	135.050	65.050
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	568.127	322.731	146.198
	Sundry Debtors	214.501	483.506	238.698
	Cash & Bank Balances	80.867	18.314	29.861
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	95.817	591.005	776.295
Total Current Assets		959.312	1415.556	1191.052
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	107.464	722.220	902.875
	Other Current Liabilities	180.270	149.903
	Provisions	63.832	70.411	62.030
Total Current Liabilities		351.566	942.534	964.905
Net Current Assets		607.746	473.022	226.147
MISCELLANEOUS EXPENSES		0.000	0.271	0.271
TOTAL		1362.943	963.745	679.855

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Income	2,499.969	2,021.715	2,017.746
		Other Income	2.276	1.673	4.700
		TOTAL (A)	2,502.245	2,023.388	2,022.446
Less	EXPENSES
		Consumption materials changes inventories	2,007.385	1,419.326
		Manufacturing service costs	321.286	377.788
		Employee related expenses	25.264	22.967
		Administrative selling other expenses	33.723	61.964
		TOTAL (B)	2,387.658	1,882.045	1,891.890
	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		114.587	141.343	130.556
Less	FINANCIAL EXPENSES (D)		65.335	48.428	0.000
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		49.252	92.915	130.556
Less	DEPRECIATION/ AMORTISATION (F)		48.979	53.936	42.608
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)		0.273	38.979	87.948
Less	TAX (H)		0.000	0.000	38.283
	PROFIT/(LOSS) AFTER TAX (G-H) (I)		0.273	38.979	49.665
	EARNINGS IN FOREIGN CURRENCY		154.636	488.747	882.979
	C.I.F VALUE OF IMPORT		NA	102.121	163.335
	Earnings Per Share (Rs.)		0.03	3.80	6.21

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	0.01	1.93	2.46
Net Profit Margin (PBT/Sales)	(%)	0.01	1.93	4.36
Return on Total Assets (PBT/Total Assets}	(%)	0.02	2.20	5.73
Return on Investment (ROI) (PBT/Networth)		0.00	0.09	0.21
Debt Equity Ratio (Total Debt /Networth)		0.38	1.09	0.56
Current Ratio (Current Asset/Current Liability)		2.73	1.50	1.23

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2009	31.03.2010	31.03.2011
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Share Capital	80.000	80.000	80.000
Reserves & Surplus	342.209	372.884	375.569
Share Application money pending allotment	0.000	0.000	520.000
Net worth	422.209	452.884	975.569
long-term borrowings	223.886	355.643	373.213
Short term borrowings	11.884	138.560	0.000
Total borrowings	235.770	494.203	373.213
Debt/Equity ratio	0.558	1.091	0.383

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2009	31.03.2010	31.03.2011
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Sales	2,017.746	2,021.715	2,499.969
		0.197	23.656

NET PROFIT MARGIN

Net Profit Margin	31.03.2009	31.03.2010	31.03.2011
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Sales	2,017.746	2,021.715	2,499.969
Profit	(10.106)	38.979	0.273
	(0.50%)	1.93%	0.01%

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	No
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	No
20]	Export / Import details (if applicable)	No
21]	Market information	----------
22]	Litigations that the firm / promoter involved in	Yes
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	----------
26]	Buyer visit details	----------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	No
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	Yes

LITIGATION DETAILS

Case Details
Bench:- Bombay
Lodging No.:-	ARBPL/44/2012	Filing Date:-	06/01/2012		Reg. No.:-	ARBP/225/2012	Reg. Date:-	21/02/2012
Petitioner:-	NOBLE RESOURCES LIMITED		Respondent:-		TWENTY FIRST CENTURY WIRE RODS LIMITED
Petn.Adv:-	MANOJ KHATRI ()		Resp. Adv.:		NEETA V. PARIKH ()
District:-	MUMBAI
Bench:-	SINGLE
Status:-	Pre-Admission		Category:-		ARBITRATION ACT.
Next Date:-	04/09/2014		Stage:-		ARBP FOR HEARING AND FINAL DISPOSAL U/S 9
Last Date:-	06/01/2014
Coram:-	HON'BLE SHRI JUSTICE R.D. DHANUKA
Last Date:-	10/07/2014		Stage:-	ARBP FOR HEARING AND FINAL DISPOSAL U/S 9
Last Coram:-	HON'BLE SHRI JUSTICE R.D. DHANUKA
Act. :	Income Tax Act,1961				Under Section: 9

UNSECURED LOANS:

Particulars	31.03.2011 Rs. In Millions	31.03.2010 Rs. In Millions
Loans directors	0.000	138.560
Total	0.000	138.560

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10379530	01/02/2013 *	550,000,000.00	ING VYSYA BANK LIMITED	22,Ground Floor, Ing Vysya House, M.G. Road, Bangalore, Karnataka - 560001, India	B69265692
2	10123501	09/10/2013 *	2,000,000,000.00	IDBI BANK LIMITED	IDBI Towerwtc Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India	B89310429

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.60.47
UK Pound	1	Rs.100.15
Euro	1	Rs.79.65

INFORMATION DETAILS

Information Gathered by :	HTL
Analysis Done by :	DIV
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	3
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--CREDIT LINES	1~10	2
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		31

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.