MIRA INFORM REPORT

Report Date :

04.12.2014

IDENTIFICATION DETAILS

Name :	FRICK INDIA LIMITED
Registered Office :	21.5 Km Main Mathura Road, Faridabad-121003, Haryana
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	04.08.1962
Com. Reg. No.:	002618
Capital Investment / Paid-up Capital :	Rs.5.999 Millions
CIN No.: [Company Identification No.]	L74899HR1962PLC002618
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges (Listed In Delhi Stock Exchange)
Line of Business :	Manufacturers of industrial refrigeration and air-conditioning equipment.
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (51)

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

Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is an established company having fine track record. Financial position of the company seems to be decent. Trade relations are fair. Business is active. Payment terms are reported to be regular and as per commitment. The company can be considered good 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

Verdict Implications : Apex court order may alter coal import dynamics. Traders go slow on talks over coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.

Recent arrest of the Chennai head of the Registrar of Companies, the ministry of corporate affairs arm that ensures that companies file all the information required by the Companies Act is the latest manifestation of a messy fight between a father and his adopted son for the control of Rs 40000 mn business empire. The Central Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as bribe from M A M Ramaswamy, a CBI official said.

Central Bureau of Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.

Infosys maintains revenue guidance. COO Rao says attrition still an area of concern and it would take a few more quarters to bring down levels to 13-15 %.

DHL  to invest Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its e-commerce business model for the Asia-Pacific region.

Blackstone may buy stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.

Kingfisher Airlines Ltd grounded in October 2012 under the weight of heavy debt and accumulated losses, recently approached the Delhi high court for relief in two separate cases. The airline challenged a notice by Punjab & National Bank alleging that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to comply with the requirements under the listing agreements with the Stock Exchanges.

OnMobile likely to sack another 300 employees. The lay-offs follow a spate of senior-level exits over the past two years, starting with of its founder. The overall lay-offs could number around 600 and are driven by the need to cut costs, says a former employee.

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long term rating A-
Rating Explanation	Have adequate degree of safety and low credit risk.
Date	January 17, 2014

Rating Agency Name	CRISIL
Rating	Short term rating A1
Rating Explanation	Have very strong degree of safety and carry lowest credit risk.
Date	January 17, 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 (91-129-2275691)

LOCATIONS

Registered Office/ factory :	21.5 Km Main Mathura Road, Faridabad-121003, Haryana, India
Tel. No.:	91-129-2275691/94, 91-129-2270546-47
Fax No.:	91-129-2275695
E-Mail :	cs@frickmail.com
Corporate Office :	809, Suryakiran, 19 K.G. Marg, New Delhi-110001, India
Tel. No.:	91-129-23322381/384/391
Fax No.:	91-11-23322396
E-Mail :	www.frickweb.com
Branches :	Located At: · Bangalore · Chandigarh · Chennai · Cochin · Hyderabad · Patna · Kolkata · Mumbai · Vizag

DIRECTORS

As on 25.09.2014

Name :

Mr. Jasmohan Singh

Designation :

Managing Director

Address :

S, Friends Colony, New Delhi -110065, India

Date of Birth/Age :

07.10.1963

Date of Appointment :

21.07.2009

DIN No.:

00383412

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	U74210DL1973PLC006805	WALCO ENGINEERING LTD	Director	01/10/1986	01/10/1986	-	Active	NO
2	U74899DL1966PTC004611	FREEZEKING INDUSTRIES PRIVATE LIMITED	Director	01/10/1986	01/10/1986	-	Active	NO
3	U74899DL1966PTC004610	JAGOWAL PRIVATE LIMITED	Director	01/10/1986	01/10/1986	-	Active	NO
4	U74899DL1977PTC008784	ESS THERMOFOAM INDUSTRIES PVT LTD	Director	01/10/1986	01/10/1986	-	Active	NO
5	U74899DL1978PTC009056	M S KOLD HOLD INDUSTRIES PRIVATE LIMITED	Director	01/10/1986	01/10/1986	-	Active	NO
6	U51909DL1990PLC042118	TRANSFRIG INDIA LIMITED	Director	19/11/1990	19/11/1990	-	Active	NO
7	U74899DL1951GAP001947	PHD CHAMBER OF COMMERCE AND INDUSTRY	Director	15/12/1997	15/12/1997	-	Active	NO
8	U15114HP1995PLC015772	SNOW VALLEY FOODS LTD	Director	14/09/2000	14/09/2000	-	Active	NO
9	U15316DL2002PTC117882	JAGOWAL FOODS PRIVATE LIMITED	Director	03/12/2002	03/12/2002	-	Active	NO
10	L74899HR1962PLC002618	FRICK INDIA LIMITED	Managing director	21/07/2009	26/08/2006	-	Active	NO
11	U99999DL1961PLC003570	Friends Club Limited	Managing director	17/09/2006	17/09/2006	30/09/2007	Active	NO

Name :

Mr. Ishtpal Singh

Designation :

Director

Address :

S-440, GK-II, New Delhi-110048, India

Date of Birth/Age :

2611.1940

Date of Appointment :

30.04.2007

DIN No.:

00017800

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	U74110DL2001PTC111284	Grant Thornton Advisory Private Limited	Director	12/04/2003	12/04/2003	-	Active	NO
2	U74899DL1972PTC006236	Chandiok's AddApptive Learning Solutions Private Limited	Director	12/04/2003	12/04/2003	-	Active	NO
3	U74899DL2000PTC104359	BELIEVE INFOTECH PRIVATE LIMITED	Director	05/07/2004	05/07/2004	29/12/2006	Active	NO
4	L74899HR1962PLC002618	FRICK INDIA LIMITED	Director	29/09/2007	30/04/2007	-	Active	NO
5	AAC-2085	WALKER CHANDIOK & CO LLP	Designated Partner	25/03/2014	25/03/2014	-	Active	NO

Name :

Mr. Ramesh Chandra Jain

Designation :

Director

Address :

5305, DLF City, Pase-IV, Gurgaon-122009, India

Date of Birth/Age :

22.12.1946

Date of Appointment :

29.09.2012

DIN No.:

00038529

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	U74140DL1991PTC046601	ECS Private LIMITED	Director	26/08/2002	26/08/2002	18/06/2008	Active	NO
2	U34300DL1997PTC087224	GRAZIANO TRASMISSIONI INDIA PRIVATE LIMITED	Whole-time director	25/03/2008	01/02/2005	01/03/2013	Active	NO
3	U28999RJ2004PLC019662	THE HI-TECH ROBOTIC SYSTEMZ LIMITED	Director	30/09/2009	25/04/2009	-	Active	NO
4	L27109PB1973PLC003358	MODERN STEEL LTD.	Director	16/07/2011	14/02/2011	26/08/2014	Active	NO
5	L29130RJ1986PLC004536	HI-TECH GEARS LIMITED	Director	27/09/2011	10/08/2011	-	Active	NO
6	L74899HR1962PLC002618	FRICK INDIA LIMITED	Director	29/12/2012	27/01/2012	-	Active	NO
7	U31905DL1981PLC127345	MINDA SAI LIMITED	Director	05/09/2014	13/12/2012	-	Active	NO
8	U72900DL2010PTC209245	Indoi Systems Private Limited	Director	28/09/2013	16/05/2013	-	Active	NO
9	U34300DL2005PLC132722	MODERN AUTOMOTIVES LIMITED	Additional director	29/08/2014	29/08/2014	-	Active	NO

Name :

Jaswinder Singh Jasspal

Designation :

Director

Address :

A-427, Sarita Vihar, New Delhi-110076, India

Date of Birth/Age :

25.11.1955

Date of Appointment :

18.03.2013

DIN No.:

00055409

Name :

Mr. Shriram Bansidhar Madhav

Designation :

Director

Address :

27, Sardar Patel Marg, New Delhi-110021, India

Date of Birth/Age :

08.10.1964

Date of Appointment :

29.09.2012

DIN No.:

00203521

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	U74899DL1990PTC040195	DIVINE INVESTMENTS PRIVATE LIMITED	Director	14/09/1990	14/09/1990	-	Active	NO
2	U74899DL1976PTC008297	VARUNA OVERSEAS PVT LTD	Director	04/01/2001	04/01/2001	-	Active	NO
3	L74899DL1989PLC035140	DCM SHRIRAM INDUSTRIES LIMITED	Whole-time director	01/04/2014	05/10/2005	-	Active	NO
4	L74899HR1962PLC002618	FRICK INDIA LIMITED	Director	29/12/2012	20/08/2012	-	Active	NO
5	U74899DL1987PTC029267	SUPER WARES PRIVATE LIMITED	Additional director	31/10/2014	31/10/2014	-	Active	NO

Name :

Mr. Mahendra Kumar Dooger

Designation :

Director

Address :

B-S15, Sarita Vihar, New Delhi-110044, India

Date of Birth/Age :

01.07.1951

Date of Appointment :

29.12.2012

DIN No.:

00319034

Name :

Dhody Gurmeet Singh Jasleen Kaur

Designation :

Director

Address :

301-302, 3^rd Floor, Chandra Sagar, Worli, Mumbai-400018

Date of Birth/Age :

10.12.1964

Date of Appointment :

29.09.2012

DIN No.:

05269698

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	L74899HR1962PLC002618	FRICK INDIA LIMITED	Director	29/12/2012	20/08/2012	-	Active	NO

Name :

Kaur Gurleen

Designation :

Director

Address :

S, Friends Colony, New Delhi -110065, India

Date of Birth/Age :

31.12.1965

Date of Appointment :

29.12.2012

DIN No.:

05270533

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	U22190DL2012PTC237569	Dream Forest Production Private Limited	Director	23/07/2012	23/07/2012	-	Active	NO
2	L74899HR1962PLC002618	FRICK INDIA LIMITED	Director	29/12/2012	20/08/2012	-	Active	NO

Name :

Mr. Jagga Divaker

Designation :

Director

Address :

B -83, Preet Vihar, New Delhi-110092, India

Date of Birth/Age :

04.06.1979

Date of Appointment :

29.09.2012

DIN No.:

05357922

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	L74899HR1962PLC002618	FRICK INDIA LIMITED	Director	29/12/2012	20/08/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Rakesh Chandra Sharma
Designation :	Secretary
Address :	C/O. Balbir Singh Gahlot, 203-A, 1^st Floor, Nawada, Near Nawada Metro Station, Delhi-110059, India
Date of Birth/Age :	20.06.1983
Date of Appointment :	09.11.2012
PAN No.:	DVGPS8259R

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 25.09.2014

SHAREHOLDING DETAILS FILE ATTACHED

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Public financial companies	4.75
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	40.15
Bodies corporate	3.15
Directors or relatives of Directors	19.03
Other top fifty shareholders	16.26
Others	16.66
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturers of industrial refrigeration and air-conditioning equipment.

Products :

Item Code No. (ITC Code)	Product Description
84143000	Gas compressors
84186990	Condensors and frigid coils

Exports :

Not Available

Imports :

Not Available

Terms :

Not Available

GENERAL INFORMATION

Suppliers :

Not Divulged

Customers :

Not Divulged

No. of Employees :

Not Divulged

Bankers :

Canara Bank, 74, Janpath,New Delhi - 110001,Delhi, India

Facilities :

(Rs. In Millions)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
Short Term Borrowing
Rupee term loans from banks	143.359	172.358
Total	143.359	172.358

Auditors :
Name :	Raghu Nath Rai and Company Chartered Accountant
Address :	9,Mathura,Jangpurab, New Delhi 110014, India
PAN No.:	AAAFR6306E
Related Parties :	· Walco Engineering Limited CIN No.: U74210DL1973PLC006805 · Trion India Limited CIN No.: U29197DL1978PLC187958 · M S Kold Hold Industries Private Limited CIN No.: U74899DL1978PTC009056 · Freezeking Industries Private Limited CIN No.: U74899DL1966PTC004611

CAPITAL STRUCTURE

As on 25.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
3000000	Equity Shares	Rs.10/- each	Rs.30.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
599975	Equity Shares	Rs.10/- each	Rs. 5.999 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	5.999	5.999	5.999
(b) Reserves & Surplus	911.813	828.087	762.365
(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)	917.812	834.086	768.364
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000	5.270
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	37.246	37.511	34.546
Total Non-current Liabilities (3)	37.246	37.511	39.816
(4) Current Liabilities
(a) Short term borrowings	143.359	172.358	163.385
(b) Trade payables	128.113	123.424	108.270
(c) Other current liabilities	190.981	180.364	193.831
(d) Short-term provisions	49.128	33.265	26.348
Total Current Liabilities (4)	511.581	509.411	491.834
TOTAL	1466.639	1381.008	1300.014
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	91.918	99.755	111.272
(ii) Intangible Assets	1.019	1.362	1.851
(iii) Capital work-in-progress	0.000	0.000	0.315
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	43.876	82.632	79.437
(c) Deferred tax assets (net)	2.662	2.955	0.000
(d) Long-term Loan and Advances	13.389	16.427	7.677
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	152.864	203.131	200.552
(2) Current assets
(a) Current investments	115.656	76.432	95.843
(b) Inventories	276.183	304.899	360.042
(c) Trade receivables	385.883	286.303	204.163
(d) Cash and cash equivalents	421.523	391.003	325.487
(e) Short-term loans and advances	101.118	113.764	107.900
(f) Other current assets	13.412	5.476	6.027
Total Current Assets	1313.775	1177.877	1099.462
TOTAL	1466.639	1381.008	1300.014

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	1683.211	1577.219	1586.292
		Other Income	50.024	41.212	41.763
		TOTAL (A)	1733.235	1618.431	1628.055
Less	EXPENSES
		Cost of Materials Consumed	1102.153	1087.429	1094.410
		Purchases of Stock-in-Trade	0.000	0.000	0.000
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	26.075	15.813	(3.739)
		Employees benefits expense	240.492	222.857	207.484
		Other expenses	173.496	155.060	140.386
		TOTAL (B)	1542.216	1481.159	1438.541
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		191.019	137.272	189.514
Less	FINANCIAL EXPENSES (D)		23.846	24.210	20.635
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		167.173	113.062	168.879
Less/ Add	DEPRECIATION/ AMORTISATION (F)		15.589	17.610	18.052
	PROFIT BEFORE TAX (E-F) (G)		151.584	95.452	150.827
Less	TAX (H)		66.454	28.325	60.629
	PROFIT AFTER TAX (G-H) (I)		85.130	67.127	90.198
Less	APPROPRIATIONS
		Transfer to General Reserve	83.726	65.722	88.803
		Dividend	1.200	1.200	1.200
		Tax on Dividend	0.204	0.204	0.195
	Earnings Per Share (Rs.)		141.89	111.88	150.34

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	5.06	4.26	5.69
Operating Profit Margin (PBDIT/Sales)	(%)	11.35	8.70	11.95
Return on Total Assets (PBT/Total Assets}	(%)	10.67	7.37	12.36
Return on Investment (ROI) (PBT/Networth)		0.17	0.11	0.20
Debt Equity Ratio (Total Debt /Networth)		0.16	0.21	0.21
Current Ratio (Current Asset/Current Liability)		2.57	2.31	2.24

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	5.999	5.999	5.999
Reserves & Surplus	762.365	828.087	911.813
Net worth	768.364	834.086	917.812
long-term borrowings	0.000	0.000	0.000
Short term borrowings	163.385	172.358	143.359
Total borrowings	163.385	172.358	143.359
Debt/Equity ratio	0.213	0.207	0.156

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	1586.292	1577.219	1683.211
		-0.572	6.720

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	1586.292	1577.219	1683.211
Profit	90.198	67.126	85.130
	5.69%	4.26%	5.06%

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	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	No
34]	External Agency Rating, if available	Yes

RESULTS OF OPERATIONS & FUTURE OUTLOOK

During the Financial Year 2013-14, the Company achieved an all time high performance both in turnover and its profits. The business has performed well, with productivity gains, growth in volumes and sustained margins not with standing rise in input costs. The Company's management ability to neutralise cost increase and improve margins together with purchasing efficiencies, improvement in manufacturing yield/usage and expenses control helped in increasing the profitability. The performance has established a new milestone for the Company. Also,

there were signs of faster growth in certain geographies, primarily in the emerging markets. The prevailing uncertainties were challenging, which called for much higher level of efficiency and preparedness for participants in the market.

The pre-tax profits for the accounting year under report increased from Rs. 95.451millions in the previous year to Rs. 151.584 millions in the current year. The total turnover of the Company including installation charges and other operating income increased from Rs. 1577.218 millions in the previous year to Rs. 16,83.211 millions in the current year. The other Income of the Company also increased by Rs 8.812 millions.

During the Financial Year 2013-14, there has been sharp increase in the costs of some basic raw-materials, fuel cost, freight &transportation and staff cost. This has curtailed the profitability and growth to some extent.

However, the Company’s management is presently concentrating on consolidation of various lines of business of the Company, to cut extra costs and boost profits. The Directors' are hopeful of growth in the refrigeration sector due to rising global food prices. However, the Company might face challenges given the slower rate of pick-up of the world economy after the global slowdown and the prevalent recessionary trends.

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10444302	10/08/2013	40,000,000.00	CANARA BANK	74-JANPATH, NEW DELHI, Delhi - 110001, INDIA	B82717612
2	10361146	26/05/2012	16,000,000.00	Canara Bank	74, Janpath, New Delhi, Delhi - 110001, INDIA	B41837568
3	10354939	20/04/2012	28,000,000.00	Canara Bank	74, Janpath, New Delhi, Delhi - 110001, INDIA	B39399340
4	10287915	04/04/2011	18,600,000.00	Canara Bank	Janpath, New Delhi, Delhi - 110001, INDIA	B13317912
5	10241339	09/08/2010	20,000,000.00	Canara Bank	74, Janpath, New Delhi, Delhi - 110001, INDIA	A95308490
6	10241341	09/08/2010	23,743,672.00	Canara Bank	74, Janpath, New Delhi, Delhi - 110001, INDIA	A95308912
7	10231370	10/07/2010	23,743,672.00	CANARA BANK	JANPATH, NEW DELHI, Delhi - 110001, INDIA	A90465550
8	10232570	07/07/2010	17,500,000.00	Canara Bank	74, Janpath, New Delhi, Delhi - 110001, INDIA	A91016253
9	10221964	09/08/2010 *	16,600,000.00	Canara Bank	74, Janpath, New Delhi, Delhi - 110001, INDIA	A95311981
10	10200123	14/12/2009	20,000,000.00	CANARA BANK	74, JANPATH, NEW DELHI, Delhi - 110001, INDIA	A78366143

* Date of charge modification

FIXED ASSETS

· Land and buildings

· Plant and machinery

· Vehicle

· Computer

· Office equipment

· Motor car

· Leasehold

· 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 o 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.61.88
UK Pound	1	Rs.96.82
Euro	1	Rs.76.57

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	RAS
Report Prepared by :	JYTK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	YES
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		51

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.