MIRA INFORM REPORT

Report Date :

08.12.2014

IDENTIFICATION DETAILS

Name :	CHANDRA PROTECO LIMITED
Registered Office :	2B Grant Lane R No 35, 2^nd Floor, Kolkata – 700012, West Bengal
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	14.12.2004
Com. Reg. No.:	21-100708
Capital Investment / Paid-up Capital :	Rs. 150.417 Millions
CIN No.: [Company Identification No.]	U27109WB2004PLC100708
TAN No.: [Tax Deduction & Collection Account No.]	CALC04720C
PAN No.: [Permanent Account No.]	AACCC5301K
Legal Form :	A Closely Held Public Limited Liability Company.
Line of Business :	Manufacturer of Oxygen-free Copper Rods, Glass Covered Strips, Continuously Transposed Conductors (CTC) and Ventilated Transposed Conductors (VCTC).
No. of Employees :	Information declined by management.

RATING & COMMENTS

MIRA’s Rating :

B (27)

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

Maximum Credit Limit :	USD 3660000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. There seems drastic dip in the profit of the company during 2013. Profitability of the company also seems to be low. However, trade relations are reported as fair. Business is active. Payments terms are reported to be slow. The company can be considered for business dealings with great 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

Rating Agency Name	CARE
Rating	Long Term Bank Facilities = D (Suspended)
Rating Explanation	Expected to be in default
Date	March 10, 2014

Rating Agency Name	CARE
Rating	Short Term Bank Facilities = D (Suspended)
Rating Explanation	Expected to be in default
Date	March 10, 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 BY

Management Non Co – Operative (Tel No. 91-9909965726/ 22-42291961)

LOCATIONS

Registered Office :	2B Grant Lane R No 35, 2^nd Floor, Kolkata – 700012, West Bengal, India
Tel. No.:	Not Available
Mobile No.:	91-9909965726 (Mr. Sanjay Agarwal)
Fax No.:	Not Available
E-Mail :	info@chandraproteco.com
Website :	www.chandraproteco.com www.chandragroup.com
Corporate Office :	272, 7^th Floor, Building 2, Solitaire Corporate Park, Andheri Kurla Road, Andheri (East), Mumbai – 400093, Maharashtra, India
Tel. No.:	91-22-42291961/ 3
Fax No.:	91-22-42291962
E-Mail :	info@chandra-group.com
Factory 1/ Technology Centre :	Survey No. 139 / 2, Athola Silvassa – 396230, Union Territory of Dadra and Nagar Havel, India
Tel. No.:	91-260-2632672 / 73/ 74
Fax No.:	91-260-2632403
Factory 2 :	1, 2, 5, 6 and 7 MNNIT Industrial Estate, Teliarganj, Allahabad – 211004, Uttar Pradesh, India
Tel. No.:	91-532-2545851/ 2545783
Fax No.:	91-532-2545784

DIRECTORS

As On 28.09.2013

Name :

Mukul Gupta

Designation :

Chairman-cum-Managing Director

Address :

53, Tagore Town, Allahabad – 211002, Uttar Pradesh, India

Date of Birth/Age :

13.08.1964

Qualification :

ME

Date of Appointment :

01.06.2010

PAN No.:

ACCPG6455G

DIN NO.:

00125788

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	U51109UP1989PTC011296	CHANDRA ELECTROMAG PRIVATE LIMITED	Director	31/05/2010	19/10/1989	-	Active	NO
2	U27101UP1993PLC015570	CHANDRA METALS LIMITED	Director	17/08/2011	02/06/2003	-	Active	NO
3	U67120WB1994PTC061576	SARADA CONFIN PVT LTD	Director	24/03/2004	24/03/2004	-	Active	NO
4	U51109WB1994PTC062235	HARI VYAPAAR PVT LTD	Director	24/03/2004	24/03/2004	-	Active	NO
5	U27109WB2004PLC100708	CHANDRA PROTECO LIMITED	Managing director	01/06/2010	14/12/2004	-	Active	NO
6	U51909WB1995PTC072706	VIRTUOUS HOLDINGS PRIVATE LIMITED	Director	24/08/2006	24/08/2006	-	Active	NO
7	U51909WB2010PTC149036	RAMESHWAR DEALTRADE PRIVATE LIMITED	Director	25/01/2012	25/01/2012	-	Active	NO
8	U51109WB2008PTC130034	FAVOURITE AGENCY PRIVATE LIMITED	Director	25/01/2012	25/01/2012	-	Active	NO
9	U74120WB2008PTC122703	BFA MARKETING PRIVATE LIMITED	Director	25/01/2012	25/01/2012	-	Active	NO
10	U51101WB2010PTC149827	ABHIRUCHI ISPAT TRADER PRIVATE LIMITED	Director	25/01/2012	25/01/2012	-	Active	NO
11	U51109WB2008PTC122454	PRAGATI DEALCOMM PRIVATE LIMITED	Director	16/07/2012	16/07/2012	01/01/2014	Active	NO
12	U67120WB1992PTC056253	VEDIK HOLDINGS PVT LTD	Director	01/01/2014	01/01/2014	-	Active	NO
13	U65923WB1995PLC072708	DATUM SECURITIES LIMITED	Director	01/01/2014	01/01/2014	-	Active	NO

Name :

Ranjeet Gupta

Designation :

Director

Address :

53, Tagore Town, Allahabad – 211002, Uttar Pradesh, India

Date of Birth/Age :

15.08.1948

Qualification :

LLB, PGD (HR)

Date of Appointment :

17.08.2011

PAN No.:

AAPPG7390C

DIN No.:

00125826

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	U27101UP1993PLC015570	CHANDRA METALS LIMITED	Managing director	22/07/1993	22/07/1993	-	Active	NO
2	U27109WB2004PLC100708	CHANDRA PROTECO LIMITED	Director	17/08/2011	14/12/2004	-	Active	NO
3	U65923WB1995PLC072708	DATUM SECURITIES LIMITED	Director	01/09/2005	01/09/2005	-	Active	NO

Name :

Anilesh Gupta

Designation :

Director

Address :

53, Tagore Town, Allahabad – 211002, Uttar Pradesh, India

Date of Birth/Age :

29.07.1961

Qualification :

M. Com, PGDBA

Date of Appointment :

17.08.2011

PAN No.:

AAPPG7389F

DIN No.:

00127601

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	U27109WB2004PLC100708	CHANDRA PROTECO LIMITED	Director	17/08/2011	14/12/2004	-	Active	NO
2	U51109WB1994PTC062235	HARI VYAPAAR PVT LTD	Director	15/07/2005	15/07/2005	-	Active	NO
3	U27101UP1993PLC015570	CHANDRA METALS LIMITED	Director	28/09/2006	07/08/2006	-	Active	NO
4	U51909WB1995PTC072706	VIRTUOUS HOLDINGS PRIVATE LIMITED	Director	17/06/2008	17/06/2008	-	Active	NO

Name :

Aparna Gupta

Designation :

Whole Time Director

Address :

53, Tagore Town, Allahabad – 211002, Uttar Pradesh, India

Date of Birth/Age :

02.05.1968

Qualification :

B. Com, MBA

Date of Appointment :

14.12.2004

PAN No.:

ACLPG6456F

DIN No.:

00127607

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	U51109UP1989PTC011296	CHANDRA ELECTROMAG PRIVATE LIMITED	Director	02/12/1996	02/12/1996	-	Active	NO
2	U27109WB2004PLC100708	CHANDRA PROTECO LIMITED	Whole-time director	14/12/2004	14/12/2004	-	Active	NO
3	U65923WB1995PLC072708	DATUM SECURITIES LIMITED	Director	01/09/2005	01/09/2005	-	Active	NO
4	U52190WB2010PTC149564	FARISTA MARKETING PRIVATE LIMITED	Director	23/12/2011	23/12/2011	-	Active	NO
5	U51109WB2008PTC121997	VISION COMMOTRADE PRIVATE LIMITED	Director	16/07/2012	16/07/2012	01/01/2014	Active	NO

Name :

Jagdish Kumar Kesarwani

Designation :

Director

Address :

53 Tagore Town, Allahabad – 211002, Uttar Pradesh, India

Date of Birth/Age :

04.11.1946

Qualification :

Master in Electronics

Date of Appointment :

01.09.2011

PAN No.:

ABAPK4203E

DIN No.:

00141394

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	U27101UP1993PLC015570	CHANDRA METALS LIMITED	Director	17/08/2011	01/07/2001	-	Active	NO
2	U27109WB2004PLC100708	CHANDRA PROTECO LIMITED	Whole-time director	01/09/2011	14/12/2004	-	Active	NO
3	U67120WB1994PTC061576	SARADA CONFIN PVT LTD	Director	24/03/2006	24/03/2006	-	Active	NO
4	U51109UP1989PTC011296	CHANDRA ELECTROMAG PRIVATE LIMITED	Director	07/03/2007	07/03/2007	-	Active	NO

KEY EXECUTIVES

Name :	Brijesh Kumar Singh
Designation :	Secretary
Address :	Village Bhva Khurd P.O. Khapraha, Jaunpur – 222131, Uttar Pradesh, India
Date of Birth/Age :	25.06.1976
Date of Appointment :	01.11.2007
Name :	Sanjay Agarwal
Designation :	General Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 28.09.2013

Names of Shareholders	No. of Shares
Mr. J. K. Kesarwani	94025
Mr. Ranjeet Gupta	78700
Mr. Mukul Gupta	91125
Mr. Anilesh Gupta	77500
Mrs. Madhu Kesarwani	3000
Miss. Ruchi Gupta	2000
Mrs. Preeti Gupta	3190
Mr. Aparna Gupta	5900
Mr. Manoj Kumar Gupta	2000
M/s. Hari Vyapar Private Limited	3793590
M/s. Sarda Confin Private Limited	3856875
M/s. Datum Securities Limited	4703425
M/s. Virtuous Holding Private Limited	401310
M/s. Winning Colors Private Limited	1422830
Vedik Holdings Private Limited	506250
Total	15041720

As on 28.09.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	9.46
Bodies corporate	88.17
Directors or relatives of Directors	2.36
Other top fifty shareholders	0.01
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Oxygen-free Copper Rods, Glass Covered Strips, Continuously Transposed Conductors (CTC) and Ventilated Transposed Conductors (VCTC).
Products :	· Oxygen-Free-High-Condutivity-Copper-OFHC · Continuously-Transposed-Conductors-CTC · Ventilated—Netted-CTC-VCTC · Paper-Insulated-Copper-Conductors-PICC · Enameled-rectangular-Copper-Conductors · Glass-Mica-Kapton-Covered-Conductors · Contact-Catenary-Dropper-Wire · Bare-Tinned-Bus-Bars · Bare-Copper-StripsFlatProfiles

GENERAL INFORMATION

No. of Employees :

Information declined by management.

Bankers :

Allahabad Bank, HSS Branch, K.P. Kakkar Road, Allahabad – 211003, Uttar Pradesh, India

Facilities :

SECURED LOANS	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
LONG TERM BORROWINGS
Term Loan from Bank	589.603	760.281
SHORT TERM BORROWINGS
Working capital loans from banks	1092.758	986.344
Total	1682.361	1746.624

Banking Relations :	--
Auditors :
Name :	M/s. Ashok Usha Jain and Company Chartered Accountants
Address :	Janki Bhawan, 171 Oldkatra, Allahabad – 211002 , Uttar Pradesh, India
Tel. No.:	91-9415324124
PAN No.:	AAKFA2166K
Subsidiary :
	· Chandra Metals Limited U27101UP1993PLC015570

CAPITAL STRUCTURE

As On 28.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
21000000	Equity Shares	Rs. 10/- each	Rs. 210.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
15041720	Equity Shares	Rs. 10/- each	Rs. 150.417 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	150.417	150.417	150.417
(b) Reserves & Surplus	1132.926	1147.171	922.394
(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)	1283.343	1297.588	1072.811
(3) Non-Current Liabilities
(a) long-term borrowings	754.625	890.719	942.997
(b) Deferred tax liabilities (Net)	106.780	102.384	65.841
(c) Other long term liabilities	0.000	0.000	157.833
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	861.405	993.103	1166.671
(4) Current Liabilities
(a) Short term borrowings	1092.758	986.344	764.387
(b) Trade payables	968.903	699.747	632.296
(c) Other current liabilities	0.000	0.000	51.425
(d) Short-term provisions	16.217	50.585	31.241
Total Current Liabilities (4)	2077.878	1736.676	1479.349
TOTAL	4222.626	4027.367	3718.831
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1533.818	1609.468	1652.622
(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	92.905	92.905	89.493
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	12.973	7.389	0.000
Total Non-Current Assets	1639.696	1709.762	1742.115
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	159.945	220.752	267.246
(c) Trade receivables	1964.299	1712.105	1365.623
(d) Cash and cash equivalents	224.748	186.350	89.606
(e) Short-term loans and advances	233.938	198.398	251.459
(f) Other current assets	0.000	0.000	2.782
Total Current Assets	20260.930	2317.605	1976.716
TOTAL	4222.626	4027.367	3718.831

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	6908.934	5775.146	3761.646
		Other Income	13.508	24.624	6.599
		TOTAL (A)	6922.442	5799.770	3768.245
Less	EXPENSES
		Cost of Material Consumed	6132.213	4607.738	3063.130
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(63.779)	138.903	(76.605)
		Employees benefit expenses	73.318	56.156	36.062
		Other expenses	185.836	211.326	248.932
		TOTAL (B)	6327.588	5014.123	3271.519
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		594.854	785.647	496.726
Less	FINANCIAL EXPENSES (D)		482.458	406.729	248.932
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		112.396	378.918	247.794
Less/ Add	DEPRECIATION/ AMORTISATION (F)		80.984	78.813	40.414
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		31.412	300.105	207.380
Less	TAX (H)		11.026	66.588	59.518
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		20.386	233.517	147.862
	Earnings / (Loss) Per Share (Rs.)		1.35	15.52	12.92

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Net Profit Margin (PAT / Sales)	(%)	0.29	4.03	3.92
Operating Profit Margin (PBDIT/Sales)	(%)	8.61	13.55	13.18
Return on Total Assets (PBT/Total Assets}	(%)	0.14	7.63	5.71
Return on Investment (ROI) (PBT/Networth)		0.02	0.23	0.19
Debt Equity Ratio (Total Liability/Networth)		1.44	1.45	1.59
Current Ratio (Current Asset/Current Liability)		9.75	1.33	1.34

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	150.417	150.417	150.417
Reserves & Surplus	922.394	1147.171	1132.926
Net worth	1072.811	1297.588	1283.343
long-term borrowings	942.997	890.719	754.625
Short term borrowings	764.387	986.344	1092.758
Total borrowings	1707.384	1877.063	1847.383
Debt/Equity ratio	1.592	1.447	1.440

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	3761.646	5775.146	6908.934
		53.527	19.632

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	3761.646	5775.146	6908.934
Profit	147.862	233.517	20.386
	3.93%	4.04%	0.30%

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	No
34]	External Agency Rating, if available	No

Performance Overview

The performance of the company during 2012-13 was largely on expected lines and well on the projected recovery track. Effective utilization of critical equipment contributed to the improved performance. The company successfully enhanced its annual capacity to produce Copper Conductors from 5000 MT to 20000 MT in the month of July, 2010. Expansion Plan is completed in record time of 12 months. State-of-the-art facility for 800 & 1200 KV class conductors at Chandra Proteco Limited was inaugurated by Governor of Commonwealth of Kentucky, US His Excellency Honable Steve Beshear in October, 2010.

During the year, the company achieved a total turnover of Rs. 7318.300 Millions as compared to Rs. 6239.900 Millions in the last year, and as such registereda growth of around 17.28%.

The Company discharged all its financial obligations and statutory liabilities in time without any default, including payment of instalments and interest.

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10420645	25/03/2013	442,500,000.00	ALLAHABAD BANK	'VASU SMRITI', PLOT NO. 383-A, 13TH ROAD, KHAR (WEST), MUMBAI, Maharashtra - 400052, INDIA	B73439176
2	10399705	31/12/2012	50,000,000.00	ANDHRA BANK	OPERA HOUSE BRANCH, 9/15, MAMA PARAMANAND MARG, QUEEN'S ROAD, MUMBAI, Maharashtra - 400004, INDIA	B66687823
3	10316398	17/09/2011	60,000,000.00	BANK OF INDIA	ANDHERI MID CORPORATE BRANCH, BOI BUILDING, 2ND FLOOR, 28, S.V. ROAD, ANDHERI, MUMBAI, Maharashtra  - 400058, INDIA	B24837999
4	10316414	17/09/2011	100,000,000.00	BANK OF INDIA	ANDHERI MID CORPORATE BRANCH, BOI BUILDING, 2ND FLOOR, 28, S.V. ROAD, ANDHERI, MUMBAI, Maharashtra - 400058, INDIA	B24842171
5	10346962	02/05/2011	100,000,000.00	Corporation Bank	No. 301-302, The Eagle,s Flight, Suren Road, Andheri East, Mumbai, Maharashtra - 400093, INDIA	B21177795
6	10189329	25/03/2013 *	2,995,600,000.00	IDBI Bank Limited	IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, Maharashtra - 400005, INDIA	B73477465

* Date of charge modification

UNSECURED LOANS

PARTICULAR	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
LONG TERM BORROWINGS
Loans and advances from related parties	165.022	130.438
Total	165.022	130.438

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. 96.72
Euro	1	Rs. 76.53

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	RAS
Report Prepared by :	SPR

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	4
--CREDIT LINES	1~10	2
--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	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		27

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.