MIRA INFORM REPORT

Report Date :

06.12.2014

IDENTIFICATION DETAILS

Name :	LAXMI AGRO INDUSTRIAL CONSULTANTS AND EXPORTERS LIMITED
Registered Office :	Rahul Apartments, 24/24, Ansari Road, Darya Gunj, New Delhi – 110002
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	27.01.1977
Com. Reg. No.:	55-052018
Capital Investment / Paid-up Capital :	Rs. 2.500 Millions
CIN No.: [Company Identification No.]	U74899DL1977PLC052018
TAN No.: [Tax Deduction & Collection Account No.]	DELL02168F
PAN No.: [Permanent Account No.]	AAACL0471B
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer, Exporter and Importer of Detergent Chemicals.
No. of Employees :	51 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (29)

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

Maximum Credit Limit :	USD 490000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. As per ROC the date of balance sheet (i.e. Financial filed) is shown as 31.03.2013 but the documents related to the financial for the year 2013 are not available from any source. Mr. Mukesh Sharma from Account Department provide all information however financial are not verified/ As per the available financial of March 2012, the company seems to be performing well. Trade relations are reported to be fair. Business is active. Payment 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

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

NOT AVAILABLE

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. Mukesh Sharma
Designation :	Account Manager
Contact No.:	91-11-23279022
Date :	04.12.2014

LOCATIONS

Registered Office :	Rahul Apartments, 24/24, Ansari Road, Darya Gunj, New Delhi – 110002, India
Tel. No.:	91-11-23279022/ 23279988
Fax No.:	91-11-23267919
E-Mail :	laxmiaccounts@skgroup.org shivgupta@skgroup.org exim@skgroup.org contact@ksgroup.org skaccounts@skgroup.org
Website :	www.laxmiaccounts@skgroup.org
Area :	Owned
Factory 1 :	D-15, Industrial Area, Malwan, District Fatehpur – 212664, Uttar Pradesh.
Factory 2:	H1, Industrial Area, UPSIDC, Sikandrabad, District, Bulandshahar, Uttar Pradesh
Factory 3 :	Survey No. 153/3, Village Padana, Gandhidham, District Kutch – 370240, Gujarat, India
Factory 4 :	F-180, RIICO Industrial Area, Gulti, Udaypur, Rajasthan, India

DIRECTORS

As on 30.09.2013

Name :

Mr. Sushil Kumar Gupta

Designation :

Managing Director

Address :

Rahul Apartments, 24/24, Ansari Road, Daryaganj, New Delhi-110002, Delhi, India

Date of Birth/Age :

21.01.1950

Experience :

B. Tech (Mechanical)

Date of Appointment :

01.04.2012

DIN No.:

00154974

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	U74899DL1984PTC017582	S.K.FLOUR MILLS PRIVATE LIMITED	Director	22-02-1984	22-02-1984	Active	NO
2	U74899DL1984PTC018544	S K AND COMPANY PRIVATE LIMITED	Managing director	28-06-1984	28-06-1984	Active	NO
3	U74899DL1977PLC052018	LAXMI AGRO INDUSTRIAL CONSULTANTS AND EXPORTERS LIMITED	Managing director	01-04-2012	27-08-1993	Active	NO
4	U24231DL1997PTC086898	SHRI LAXMI SURFACTANTS Private Limited	Director	28-04-1997	28-04-1997	Active	NO

Name :

Mr. Shiv Gupta

Designation :

Whole Time Director

Address :

Rahul Apartments, 24/24, Ansari Road, Daryaganj, New Delhi-110002, Delhi, India

Date of Birth/Age :

20.03.1983

Qualification :

B.Tech (Mechanical)

Date of Appointment :

01.03.2014

DIN No.:

00509493

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	U74899DL1979PTC010005	AJS CONTAINERS PRIVATE LIMITED	Director	25-08-2006	25-08-2006	Active	NO
2	U74899DL1977PLC052018	LAXMI AGRO INDUSTRIAL CONSULTANTS AND EXPORTERS LIMITED	Whole-time director	01-03-2014	09-12-2006	Active	NO
3	U24231DL1997PTC086898	SHRI LAXMI SURFACTANTS PRIVATE LIMITED	Director	30-09-2010	10-08-2010	Active	NO
4	U24116DL1998PTC095912	SHIV PETRO PRODUCTS PRIVATE LIMITED	Additional director	13-04-2013	13-04-2013	Active	NO

Name :

Mrs. Vidula Gupta

Designation :

Joint Managing Director

Address :

Rahul Apartments, 24/24, Ansari Road, Daryaganj, New Delhi-110002, Delhi, India

Date of Birth/Age :

07.12.1954

Qualification :

B.A.

Date of Appointment :

01.11.2010

DIN No.:

00226521

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	U74899DL1979PTC010005	AJS CONTAINERS PVT LTD	Director	23-11-1979	23-11-1979	Active	NO
2	U74899DL1977PLC052018	LAXMI AGRO INDUSTRIAL CONSULTANTS AND EXPORTERS LIMITED	Managing director	01-11-2010	12-08-1986	Active	NO

Name :

Mrs. Gigi Gupta

Designation :

Director

Address :

Rahul Apartments, 24/24, Ansari Road, Daryaganj, New Delhi-110002, Delhi, India

Date of Birth/Age :

19.01.1929

Date of Appointment :

20.12.1990

DIN No.:

00227892

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	U74899DL1979PTC010005	AJS CONTAINERS PVT LTD	Director	23-11-1979	23-11-1979	Active	NO
2	U74899DL1984PTC017582	S.K.FLOUR MILLS PRIVATE LIMITED	Director	22-02-1984	22-02-1984	Active	NO
3	U74899DL1984PTC018544	S K AND COMPANY PRIVATE LIMITED	Director	28-06-1984	28-06-1984	Active	NO
4	U74899DL1977PLC052018	LAXMI AGRO INDUSTRIAL CONSULTANTS AND EXPORTERS LIMITED	Director	20-12-1990	20-12-1990	Active	NO

Name :

Mrs. Lila Dhar Chopra

Designation :

Director

Address :

W-10, Sector -12, Noida, Gautambuddh Nagar, Uttar Pradesh

Date of Birth/Age :

10.11.1925

Date of Appointment :

26.09.2008

DIN No.:

00160875

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	U24231DL1997PTC086898	SHRI LAXMI SURFACTANTS Private Limited	Director	28-04-1997	28-04-1997	Active	NO
2	U74899DL1977PLC052018	LAXMI AGRO INDUSTRIAL CONSULTANTS AND EXPORTERS LIMITED	Director	26-09-2008	01-10-2007	Active	NO

Name :

Mr. Naresh Kumar Bagla

Designation :

Whole Time Director

Address :

III-A-32 Vaishali Apartments, GF-101, Nehru Nagar, Ghaziabad, Uttar Pradesh, India

Date of Birth/ Age:

08.07.1962

Qualification :

ICWA

Date of Appointment :

01.11.2013

DIN No.:

00195739

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	U74899DL1977PLC052018	LAXMI AGRO INDUSTRIAL CONSULTANTS AND EXPORTERS LIMITED	Whole-time director	01-11-2013	09-12-2006	Active	NO

Name :

Mr. Vijay Kumar Walia

Designation :

Director

Address :

MS-3/602, Kendriya Vihar, Sector -56, Gurgaon, Haryana, India

Date of Birth/Age :

21.10.1941

Qualification :

Graduate

Date of Appointment :

06.03.2009

DIN NO.:

02140271

Name :

Mr. Lalit Kumar Sharma

Designation :

Director

Address :

216, 3^rd, Sector-D, Pocket-2, Vasant Kunj, New Delhi -110030, India

Date of Birth/Age :

15.04.1946

Qualification :

B.Sc, PGDMSM

Date of Appointment :

06.03.2009

DIN NO.:

02140291

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	U74899DL1977PLC052018	LAXMI AGRO INDUSTRIAL CONSULTANTS AND EXPORTERS LIMITED	Director	06-03-2009	06-03-2009	Active	NO
2	U24116DL1998PTC095912	SHIV PETRO PRODUCTS PRIVATE LIMITED	Director	30-09-2010	01-06-2010	Active	NO

KEY EXECUTIVES

Name :	Mr. Mukesh Sharma
Designation :	Account Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2013

Names of Shareholders	No. of Shares	Percentage of Holding
Rekha Aggarwal	250	1.00
Anita Gupta	405	1.62
Vidula Gupta	3200	12.80
Radhey Shyam Aggarwal	50	0.20
Sushil Kumar Gupta	20280	81.12
Sushil Gupta (HUF)	520	2.08
Shiv Gupta	100	0.40
L.D. Chopra	50	0.20
Rakesh Sharma	75	0.30
Subodh Kumar	65	0.26
N.K. Bagla	5	0.02
Total	25000	100.00

As on 30.09.2013

Equity Share Break up (Percentage of Total Equity)

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

BUSINESS DETAILS

Line of Business :

Manufacturer, Exporter and Importer of Detergent Chemicals.

Products :

Item Code No. (ITC Code)	Product Description
3402	Sulphonic Acid

Exports :

Products :

Finished Goods

Countries :

· Brazil

Kenya

Tanzania

Imports :

Products :

Raw Material

Countries :

UAE

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Indian Oil, Mumbai
Name of the Person (with Designation):	NOT DIVULGED
Contact Number:
Since How Long Known:
Maximum Limit Dealt:
Experience :
Remarks :

Customers :

Reference:	Hindustan Unilever Limited, Uttar Pradesh
Name of the Person (with Designation):	Mr. Prem Shukla
Contact Number:	91-9305461012
Since How Long Known:	Not Divulged
Maximum Limit Dealt:	Not Divulged
Experience :	Not Divulged
Remarks :	Not Divulged

No. of Employees :

51 (Approximately)

Bankers :

Bank Name:	ICICI Bank Limited
Branch:	9A, Phelps Building, Connaught Palace, New Delhi – 110001, India
Name of the Person (with Designation):	NOT AVAILABLE
Contact Number:
Name of Account Holder:
Account Number:
Account Since (Date/ Year of A/c Opening):
Average Balance Maintained (Optional):
Credit Facilities Enjoyed (CC/OD/Term Loan):
Account Operation:
Remarks: Number is Continuously Ringing

Bank Name:	The Hongkong And Shanghai Banking Corporation Limited
Branch:	25, Barakhama Road, New Delhi - 110001, India
Name of the Person (with Designation):	NOT DIVULGED
Contact Number:
Name of Account Holder:
Account Number:
Account Since (Date/ Year of A/c Opening):
Average Balance Maintained (Optional):
Credit Facilities Enjoyed (CC/OD/Term Loan):
Account Operation:
Remarks: Number is Continuously Ringing

Wholesalers, Retailers and Manufacturer

ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India

Facilities :

SECURED LOANS	31.03.2012 (Rs. In Millions)	31.03.2011 (Rs. In Millions)
LONG TERM BORROWINGS
Rupee term loans from banks	2.313	0.316
Total	2.313	0.316

Banking Relations :	--
Auditors :
Name :	Lalit Gupta and Associates Chartered Accountants
Address :	412, Arunachal Building, 19, Barakhamba Road , Connaight Place, New Delhi - 110001, India
Tel. No. :	91-11-23717400/237188900
Income-tax PAN of auditor or auditor's firm :	AAAFL5833E
Associate Firm/Company:	· Laxmi Transport Company · AJS Containers Private Limited

CAPITAL STRUCTURE

As on 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
25,000	Equity Shares	Rs.100/- each	Rs. 2.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
25,000	Equity Shares	Rs.100/- each	Rs. 2.500 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	2.500	2.500
(b) Reserves & Surplus	170.355	143.086
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	172.855	145.586
(3) Non-Current Liabilities
(a) long-term borrowings	2.463	0.466
(b) Deferred tax liabilities (Net)	0.641	0.211
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	3.104	0.677
(4) Current Liabilities
(a) Short term borrowings	103.092	1.335
(b) Trade payables	22.628	55.445
(c) Other current liabilities	9.950	2.426
(d) Short-term provisions	12.679	17.311
Total Current Liabilities (4)	148.349	76.517
TOTAL	324.308	222.780
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	38.442	23.550
(ii) Intangible Assets	0.000	0.000
(iii) Capital work-in-progress	0.000	9.290
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.007	0.007
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	14.452	15.832
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	52.901	48.679
(2) Current assets
(a) Current investments	0.000	0.690
(b) Inventories	87.061	46.818
(c) Trade receivables	89.009	83.839
(d) Cash and cash equivalents	37.388	26.302
(e) Short-term loans and advances	56.149	13.401
(f) Other current assets	1.800	3.051
Total Current Assets	271.407	174.101
TOTAL	324.308	222.780

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		2.500
2] Share Application Money		0.000
3] Reserves & Surplus		109.757
4] (Accumulated Losses)		0.000
NETWORTH		112.257
LOAN FUNDS
1] Secured Loans		9.688
2] Unsecured Loans		2.573
TOTAL BORROWING		12.261
DEFERRED TAX LIABILITIES		0.271
TOTAL		124.789
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		31.316
Capital work-in-progress		0.000
INVESTMENT		0.007
DEFERREX TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	17.052
	Sundry Debtors	68.641
	Cash & Bank Balances	22.866
	Other Current Assets	0.0000
	Loans & Advances	17.561
Total Current Assets		126.120
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	19.867
	Other Current Liabilities	2.224
	Provisions	10.563
Total Current Liabilities		32.654
Net Current Assets		93.466
MISCELLANEOUS EXPENSES		0.000
TOTAL		124.789

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	1504.296	1372.740	1311.259
		Other Income	1.872	3.108	5.037
		TOTAL (A)	1506.168	1375.848	1316.296
Less	EXPENSES
		Cost of Materials Consumed	1428.001	1294.425
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(7.481)	(1.415)
		Employees benefits expense	7.012	6.793
		Other expenses	27.977	18.334
		TOTAL (B)	1455.509	1318.137	1275.163
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		50.659	57.711	41.133
Less	FINANCIAL EXPENSES (D)		5.622	2.457	2.106
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		45.037	55.254	39.027
Less/ Add	DEPRECIATION/ AMORTISATION (F)		4.658	4.674	7.516
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		40.379	50.580	31.511
Less	TAX (H)		13.109	17.251	10.115
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		27.270	33.329	21.396
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		143.003	109.674	88.279
	BALANCE CARRIED TO THE B/S		170.273	143.003	109.674
	EARNINGS IN FOREIGN CURRENCY		50.805	35.437	0.000
	IMPORTS
		Raw Materials	17.315	0.000	NA
	TOTAL IMPORTS		17.315	0.000	NA
	Earnings / (Loss) Per Share (Rs.)		1090.78	1333.15	856.00

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
Net Profit Margin (PAT/Sales)	(%)	1.81	2.43	1.63
Operating Profit Margin (PBDIT/Sales)	(%)	3.37	4.20	3.14
Return on Total Assets (PBT/Total Assets}	(%)	12.45	23.69	20.12
Return on Investment (ROI) (PBT/Networth)		0.23	0.35	0.28
Debt Equity Ratio (Total Debt/Networth)		0.61	0.01	0.11
Current Ratio (Current Asset/Current Liability)		1.83	2.28	3.86

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012
	(Rs. In Millions)	(Rs. In Millions)
Share Capital	2.500	2.500
Reserves & Surplus	143.086	170.355
Net worth	145.586	172.855
long-term borrowings	0.466	2.463
Short term borrowings	1.335	103.092
Total borrowings	1.801	105.555
Debt/Equity ratio	0.012	0.611

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2010	31.03.2011	31.03.2012
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	1311.259	1372.740	1504.296
		4.689	9.583

NET PROFIT MARGIN

Net Profit Margin	31.03.2010	31.03.2011	31.03.2012
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	1311.259	1372.740	1504.296
Profit	21.396	33.329	27.270
	1.63%	2.43%	1.81%

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	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	Yes
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	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	No

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10438951	23/07/2013	110,000,000.00	THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMI TED	25, BARAKHAMA ROAD, NEW DELHI, DELHI - 110001, INDIA	B80425143
2	10376250	25/07/2012	32,000,000.00	ICICI BANK LIMITED	LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA	B58001793
3	10373890	25/07/2012	168,000,000.00	ICICI BANK LIMITED	LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA	B56998362
4	10279900	28/02/2011	210,000,000.00	ICICI BANK LIMITED	LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA	B10490555
5	10120897	22/07/2008	9,900,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI, MAHARASHTRA - 400013, INDIA	A45195054

UNSECURED LOANS

PARTICULAR	31.03.2012 (Rs. In Millions)	31.03.2011 (Rs. In Millions)
LONG TERM BORROWINGS
Other loans and advances, others	0.150	0.150
SHORT TERM BORROWINGS
Loans and advances from related parties	103.092	1.335
Total	103.242	1.485

FINANCIAL RESULTS

The long-term and ever increasing working capital requirement, the company wishes to continue with the policy of conserving the financial resources and accordingly ploughed back the profit of the year into business. The directors do not recommend any dividend for the year.

FIXED ASSETS

Tangible Assets

· Land

Buildings

Plant and Equipment

Furniture and Fixtures

Vehicles

Motor Vehicles

Office Equipment

Computer Equipments

Other Equipments

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.61.85
UK Pound	1	Rs.96.73
Euro	1	Rs.76.53

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	DIV
Report Prepared by :	MRI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	5
--CREDIT LINES	1~10	3
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		29

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.