1. Summary Information

		Country	INDIA
Company Name	ELOFIC INDUSTRIES LIMITED	Principal Name 1	Mr. Nirmal Kumar Banerjee
Status	Satisfactory	Principal Name 2	Mr. Mohinder Singh Sahni
		Registration #	55-006635
Street Address	C-44, Friends Colony, New Delhi – 110065
Established Date	02.06.1973	SIC Code	--
Telephone#	91-129-4281000	Business Style 1	Manufacturer
Fax #	91-129-4041572	Business Style 2	-
Homepage	http://www.elofic.com	Product Name 1	Automobile Filters
# of employees	Not Available	Product Name 2	lubes
Paid up capital	Rs.25,083,700/-	Product Name 3	-
Shareholders	Directors or relatives of Directors - 92.23% Others - 7.77%	Banking	CITI Bank N.A
Public Limited Corp.	No	Business Period	41 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	Ba (47)
Related Company
Relation	Country	Company Name	CEO
Related Party :	-	Elofic Private Limited	-
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2013		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	312,493,000	Current Liabilities	329,410,000
Inventories	251,549,000	Long-term Liabilities	235,564,000
Fixed Assets	378,913,000	Other Liabilities	16,766,000
Deferred Assets	0,000	Total Liabilities	581,740,000
Invest& other Assets	27,188,000	Retained Earnings	363,319,000
		Net Worth	388,403,000
Total Assets	970,143,000	Total Liab. & Equity	970,143,000
Total Assets (Previous Year)	186,023,000
P/L Statement as of			(Unit: Indian Rs.)
Sales	1345,493,000	Net Profit	51,354,000
Sales(Previous yr)	1187,235,000	Net Profit(Prev.yr)	22,425,000

MIRA INFORM REPORT

Report Date :

06.02.2014

IDENTIFICATION DETAILS

Name :	ELOFIC INDUSTRIES LIMITED
Formerly Known As :	ELOFIC INDUSTRIES PRIVATE LIMITED
Registered Office :	C-44, Friends Colony, New Delhi - 110065
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	02.06.1973
Com. Reg. No.:	55-006635
Capital Investment / Paid-up Capital :	Rs. 25.084 Millions
CIN No.: [Company Identification No.]	U74999DL1973PLC006635
PAN No.: [Permanent Account No.]	AAACE0425C
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and Supplier of automobile filter and lubes.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

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

Maximum Credit Limit :	USD 1500000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – December 1, 2013

Country Name	Previous Rating (30.09.2013)	Current Rating (01.12.2013)
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

The services sector, the largest contributor to India’s GDP, contracted for the sixth consecutive month in December, as orders dipped. However, hiring has risen.  Direct tax collections rose 12.3 % during the April – December period of the current financial year.  The government has decided to retain 100 per cent foreign direct investment in both greenfield (new) and brown field (existing) pharmaceutical companies, despite concerns over genetic drugs going out of production, if multi-national companies take over domestic ones. In M&A deals, a non compete clause would not be allowed, except in special circumstances. The Department of Industrial Policy and Promotion plans to release the next edition of its consolidated foreign direct investment policy document on March 31, incorporating changes made in the past year. DIPP compiles all policies related to India’s FDI regime into a single document to make it easy for investors to understand. 185 million estimated number of mobile internet users in India by June 2014, according to a report by the Internet & Mobile Association of India and IMRB International.  India had 110 million mobile internet users with 25 million in rural areas. $3.77 tn estimated global IT spending in 2014, according to research firm Gartner Inc. The growth forecast for this year is cut to 3.1 %from the earlier estimate of 3.5 %. The spending growth forecast for telecom services – a segment that accounts for more than 40 % at total IT spending – from 1.9 per cent to 1.2 per cent is the main reason for this overall IT cut. A Reserve Bank of India committee has recommended setting up a special category of lenders who would cater to small businesses and households, to expand the number of customers with access to banking services. These banks would focus onproviding payment services and deposit products.  Indian banks want the free use of automated teller machines to be capped at five transactions in a month including that of the bank in which the account is active. This follows state government order to banks to install security guards at ATM booths after a woman banker was assaulted in Bangalore. The government is likely to present a vote on Account in mid-February. The annual Economic Survey will be tabled later in Parliament along with the full Budget. A full Budget for 2014/15 is likely to be present in July by the new government formed after the General Election. The government will soon launch an internet spy system, called Netra, to detect malafide messages. Security agency will deploy the system to capture dubious voice traffic on applications such as Skype and Google Talk, as well as tweeters.

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 31-03-2012.

LOCATIONS

Registered Office :	C-44, Friends Colony, New Delhi – 110065, India
Tel. No.:	Not Available
Fax No.:	Not Available
E-Mail :	fbd@elofic.com
Website :	http://www.elofic.com
Head Office / Factory 1 :	14/4 Mathura Road, Faridabad – 121003, Haryana, India
Tel. No.:	91-129-4281000
Fax No.:	91-129-4041572
E-Mail :	enquiry@elofic.com
Factory 2 :	Plot No. 18 and 19, Sipcot Industrial Area, Phase II, Hosur – 635109, Tamilnadu, India
Factory 3 :	Village and Post office, Rajpura The. Nalagarh – 174101, District Solan, Himachal Pradesh, India

DIRECTORS

As on 06.09.2013

Name :

Mr. Mohinder Singh Sahni

Designation :

Whole-time director

Address :

C-44, Friends Colony, New Delhi – 110065, India

Date of Birth/Age :

11.12.1930

Qualification :

Graduate

Date of Appointment :

01.04.2006

DIN No.:

00067251

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	U74899DL1981PTC012930	ELOFIC PRIVATE LIMITED	Director	31/12/1981	31/12/1981	Active	NO
2	U74899DL1974PTC007532	METTLER AUTO PRIVATE LIMITED	Director	16/10/1987	16/10/1987	Active	NO
3	U74899DL1984PTC017637	SUMASH SPARES PRIVATE LIMITED	Director	22/05/1989	22/05/1989	Strike off	NO
4	U74999DL1973PLC006635	ELOFIC INDUSTRIES LIMITED.	Whole-time director	01/04/2006	01/04/2006	Active	NO
5	U91990DL1956PLC001601	CHELMSFORD CLUB LTD	Director	20/09/2006	20/09/2006	Active	NO

Name :

Mr. Mohan Bir Sahni

Designation :

Whole-time director

Address :

22-B, Ashoka Avenue, Sainik Farms, New Delhi – 110065, India

Date of Birth/Age :

23.09.1951

Qualification :

Graduate

Date of Appointment :

01.04.2006

DIN No.:

00906251

Pan No.:

AAQNS2372J

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	U74899DL1974PTC007532	METTLER AUTO PRIVATE LIMITED	Director	27/11/1974	27/11/1974	-	Active	NO
2	U74899DL1981PTC012930	ELOFIC PRIVATE LIMITED	Director	31/12/1981	31/12/1981	-	Active	NO
3	U74899DL1984PTC017637	SUMASH SPARES PRIVATE LIMITED	Director	22/05/1999	22/05/1999	-	Strike off	NO
4	U74999DL1973PLC006635	ELOFIC INDUSTRIES LIMITED.	Whole-time director	01/04/2006	01/04/2006	-	Active	NO

Name :

Mr. Kanwal Deep Sahni

Designation :

Whole-time director

Address :

C-44, Friends Colony, New Delhi – 110065, India

Date of Birth/Age :

28.02.1958

Qualification :

Graduate

Date of Appointment :

01.04.2006

DIN No.:

00901216

Pan No.:

AQNPS52380J

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	U74899DL1974PTC007532	METTLER AUTO PRIVATE LIMITED	Managing director	01/02/1979	01/02/1979	-	Active	NO
2	U74899DL1984PTC017637	SUMASH SPARES PRIVATE LIMITED	Director	06/03/1984	06/03/1984	-	Strike off	NO
3	U74899DL1981PTC012930	ELOFIC PRIVATE LIMITED	Director	01/04/1986	01/04/1986	-	Active	NO
4	U85110KA1993PLC013929	MICRO PORES (INDIA) LIMITED	Director	27/01/1993	27/01/1993	-	Strike off	NO
5	U74999DL1973PLC006635	ELOFIC INDUSTRIES LIMITED.	Whole-time director	01/04/2006	01/04/2006	-	Active	NO

Name :

Mr. Prem Arora

Designation :

Director

Address :

H-75, Greater Kailash Part-I, New Delhi – 110048, India

Date of Birth/Age :

10.10.1959

Qualification :

Graduate

Date of Appointment :

01.04.1998

DIN No.:

00106232

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	U74899DL1989PTC037528	NICKY CONSTRUCTIONS PVT LTD	Director	24/04/1992	24/04/1992	-	Active	NO
2	U74899DL1995PTC074024	NAVKUNJ DEVELOPERS PRIVATE LIMITED	Director	21/11/1995	21/11/1995	-	Active	NO
3	U70101DL1997PTC086301	VITAL ENTERPRISES PRIVATE LIMITED	Director	31/03/1997	31/03/1997	-	Active	NO
4	U45202DL1997PTC086277	EXPERT PROMOTERS PRIVATE LIMITED	Director	31/03/1997	31/03/1997	-	Active	NO
5	U74899DL1985PTC022549	ASIAN RESURFACING ROAD AGENCY PRIVATE LTD	Director	05/02/1998	05/02/1998	-	Active	NO
6	U74999DL1973PLC006635	ELOFIC INDUSTRIES LIMITED.	Director	01/04/1998	01/04/1998	-	Active	NO
7	U40300DL1999PTC100489	ARO POWER VENTURES PRIVATE LIMITED	Director	01/07/1999	01/07/1999	26/02/2011	Active	NO
8	U74899DL1995PTC068329	STAR REALTY PRIVATE LIMITED	Director	02/04/2003	02/04/2003	-	Active	NO
9	U31909DL2005PTC133044	ALOK ELECTRONICS PRIVATE LIMITED	Director	01/03/2006	01/03/2006	31/08/2006	Active	NO
10	U45201DL2004PTC129383	EVERGREEN TOWERS PRIVATE LIMITED	Director	08/05/2006	08/05/2006	27/05/2010	Active	NO
11	U74899DL1995PTC071454	USUAL LEASING AND FINANCE PRIVATE LIMITED	Director	03/03/2007	03/03/2007	-	Active	NO
12	U40101CH2008PTC031434	KESTA HYDRO POWER PRIVATE LIMITED	Nominee director	19/08/2010	19/08/2010	-	Active	NO
13	U74999HR2011PTC043000	SAAN COMMODITIES PRIVATE LIMITED	Director	20/05/2011	20/05/2011	-	Active	NO
14	U74999HR2011PTC043391	SAAN CAPITAL SERVICES PRIVATE LIMITED	Director	12/07/2011	12/07/2011	-	Active	NO
15	U70200DL2011PTC213148	RENU HOMES PRIVATE LIMITED	Director	20/06/2012	08/05/2012	-	Active	NO

Name :

Mr. Mohanjit Ahluwalia Singh

Designation :

Additional director

Address :

H No. 7-13/ 17 DLF-111, Gurgaon – 122015, Haryana, India

Date of Birth/Age :

22.03.1950

Qualification :

Graduate

Date of Appointment :

05.03.2008

DIN No.:

00515655

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	U18101DL2005PTC143758	GARVIT CREATION PRIVATE LIMITED	Director	14/07/2008	16/12/2005	15/07/2009	Active	NO
2	U74999DL1973PLC006635	ELOFIC INDUSTRIES LIMITED.	Additional director	05/03/2008	05/03/2008	-	Active	NO

Name :

Mr. Nirmal Kumar Banerjee

Designation :

Whole-time director

Address :

1508, Sector-29, Noida - 201303, Uttar Pradesh, India

Date of Birth/Age :

08.08.1948

Qualification :

Graduate

Date of Appointment :

15.09.2005

DIN No.:

00037804

Pan No.:

AAJPB6703C

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2013

SHARE HOLDING DETAILS ATTACHED

As on 30.09.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	92.23
Others	7.77
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Supplier of automobile filter and lubes.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Citi Bank N.A., Jeevan Bharti Building, 4^th Floor, 124 Connaught Circus, Connaught Place, New Delhi – 110001, India

· Axis Bank, Plot No. 40, Sco, Sector – 7, Main Market, Faridabad – 121006, Haryana, India

Facilities :

Secured Loans	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
Long Term Borrowing
Term Loan From Bank	21.805	11.394
Loan Taken for Fixed assets	0.268	0.943
Short Term Borrowing
Working Capital Loans from Banks	74.429	80.217
Loans from Other	39.028	47.329
Total	135.530	139.883

Banking Relations :	---
Auditors :
Name :	S R Dinodia and Company Chartered Accountants
Address :	K-39, Cannought Place, New Delhi - 110004, India
PAN No.:	AACFS2559N
Related Party :	· Elofic Private Limited · Elofic USA LLC · Mettler Auto Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
3000000	Equity Shares	Rs. 10/- Each	Rs.30.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2508370	Equity Shares	Rs.10/- Each	Rs. 25.084 Million

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	25.084	25.084	25.084
(b) Reserves & Surplus	363.319	321.124	302.017
(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)	388.403	346.208	327.101
(3) Non-Current Liabilities
(a) long-term borrowings	33.725	23.624	17.818
(b) Deferred tax liabilities (Net)	4.687	3.311	0.000
(c) Other long term liabilities	0.000	0.000	4.373
(d) long-term provisions	0.495	0.396	0.299
Total Non-current Liabilities (3)	38.907	27.331	22.490
(4) Current Liabilities
(a) Short term borrowings	201.839	201.698	136.123
(b) Trade payables	279.455	232.964	109.782
(c) Other current liabilities	49.955	45.131	62.884
(d) Short-term provisions	11.584	7.691	10.705
Total Current Liabilities (4)	542.833	487.484	319.494
TOTAL	970.143	186.023	669.085
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	377.253	323.577	254.422
(ii) Intangible Assets	1.660	0.951	0.788
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	11.951	16.804	2.290
(b) Non-current Investments	15.237	14.705	14.560
(c) Deferred tax assets (net)	0.000	0.000	1.511
(d) Long-term Loan and Advances	26.208	29.029	9.180
(e) Other Non-current assets	0.409	0.091	0.082
Total Non-Current Assets	432.718	385.157	282.833
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	251.549	236.900	185.144
(c) Trade receivables	221.055	191.735	138.183
(d) Cash and cash equivalents	46.403	25.913	23.921
(e) Short-term loans and advances	16.419	18.909	28.272
(f) Other current assets	1.999	2.409	10.732
Total Current Assets	537.425	475.866	386.252
TOTAL	970.143	861.023	669.085

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.3.2012	31.02.2011
	SALES
		Revenue from sale of Product	1345.493	1187.235	1127.801
		Other Income	9.704	7.957	8.087
		TOTAL (A)	1355.197	1195.192	1135.888
Less	EXPENSES
		Cost Of Material Consumed	714.826	663.894	601.033
		Purchase of Stock In Trade	51.278	76.420	62.218
		Changes in Inventories of finished Goods, Work in Progress, and Stock in Trade	(17.994)	(12.873)	(16.326)
		Employee Benefit Expenses	157.726	135.046	116.755
		Other Expenses	312.656	247.869	250.380
		TOTAL (B)	1218.492	1110.356	1014.060
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		136.705	84.836	121.828
Less	FINANCIAL EXPENSES (D)		25.239	24.311	13.294
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		111.466	60.525	108.534
Less/ Add	DEPRECIATION/ AMORTISATION (F)		45.537	32.993	27.803
Add	EXCEPTIONAL ITEMS (G)		0.531	0.146	0.218
	PROFIT BEFORE TAX (E-F+G) (H)		66.460	27.678	80.949
Less	TAX (I)		15.106	5.253	20.578
	PROFIT AFTER TAX (G-I) (J)		51.354	22.425	60.371
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	31.042	23.475	25.922
	TOTAL EARNINGS		31.042	23.475	25.922
	Earnings Per Share (Rs. 10/- each)		20.47	8.94	24.07

KEY RATIOS

PARTICULARS		31.03.2013	31.3.2012	31.02.2011
PAT / Total Income	(%)	3.79	1.88	5.31
Net Profit Margin (PBT/Sales)	(%)	4.94	2.33	7.18
Return on Total Assets (PBT/Total Assets}	(%)	7.05	3.34	12.43
Return on Investment (ROI) (PBT/Networth)		0.17	0.08	0.25
Debt Equity Ratio (Total Liability/Networth)		0.60	0.65	0.47
Current Ratio (Current Asset/Current Liability)		0.99	0.98	1.20

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	Yes
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	-----
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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

UNSECURED LOAN:

Particular	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
Long Term Borrowing
Deferred Sales Tax Loans	2.024	3.038
Loans From related Parties	9.628	8.249
Short Term Borrowing
Loans from Others	88.382	74.152
Total	100.034	85.439

CORPORATE INFORMATION:-

Subject is a public unlisted company domiciled in India and incorporated on 12th June 1973 under the provision of the Companies Act, 1956. The company has five manufacturing units located in Faridabad, Hosur and Nalagarh. The company is engaged in manufacturing and supplying of automobile filter and lubes. The company has established a new Oil plant at Faridabad where it has started its commercial production during the year. Elofic is a prime supplier to the Automobile industries in India and has also firmly established itself in the international market.

PERATION/PERFORMANCE

During the year the company’s sale and other Incomes grew to Rs.1457.900 Million. The Export sales have gone up to Rs. 330.300 Million whereas in the previous year this figure was Rs. 247.800 Million. The profit (before interest and depreciation) has increased by Rs. 522 Million over previous year. Profit before Tax has increased by Rs. 38.800 Million even there is an increases of Rs. 12.500 Million on account of depreciation on fixed assets over the previous year due to addition of modern equipments in each of the plants with an aim to improve the operational efficiency. Profit after Tax has increased by Rs.29.000 Million, including profits from Elofic USA, LLC the company’s wholly owned subsidiary in the USA.

CONTINGENT LIABILITIES:

Claims against the company not acknowledged as debts

(Rs. In Million)

Particular	31.03.2013	31.03.2012
Civil Suits	1.172	1.172
Excise duty demand	3.148	3.678
Income tax demand *	0.290	0.290
Sales Tax Demand	0.152	-
Entry Tax Demand 612860	0.613	-
Total	5.375	5.140

INDEX OF CHARGE:

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10417045	26/03/2013	25,000,000.00	CITIBANK N.A	JEEVAN BHARTI BUILDING, 4TH FLOOR, 124, CONNAUGHT CIRCUS, CONNAUGHT PLACE, NEW DELHI, DELHI - 11000 1, INDIA	B72360803
2	10331303	27/08/2012 *	95,000,000.00	CITI BANK N.A.	JEEVAN BHARTI BUILDING, 4TH FLOOR, 124 CONNAUGHT CIRCUS, CONNAUGHT PLACE, NEW DELHI, DELHI - 110001 , INDIA	B56805427
3	10168226	24/06/2011 *	196,693,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W , MUMBAI, MAHARASHTRA - 400013, INDIA	B17564493
4	10104257	15/06/2011 *	196,693,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W , MUMBAI, MAHARASHTRA - 400013, INDIA	B15127434
5	90062419	07/01/2002	1,100,000.00	HONGKONG AND SHANGHAI BANKING CORPORATION LTD.	BRANCH 28 ; K.G. MARG, NEW DELHI, DELHI, INDIA	-
6	90061208	03/07/1999 *	500,000.00	CANARA BANK	NEHRU PLACE, NEW DELHI, DELHI, INDIA	-
7	90061115	26/03/1998 *	30,000,000.00	INDUSTRIAL DEV. BANK OF INDIA	S.C.O. 72-73, SEC. 17/B, CHANDIGARH, CHANDIGARH, INDIA	-
8	90060836	03/07/1999 *	240,000.00	CANARA BANK	NEHRU PLACE, NEW DELHI, DELHI, INDIA	-
9	90060649	30/05/2000 *	900,000.00	CANARA BANK	NEHRU PLACE, NEW DELHI, DELHI, INDIA	-
10	90060464	03/07/1999 *	900,000.00	CANARA BANK	KASHMERE GATE, NEW DELHI, DELHI, INDIA	-

FIXED ASSETS:

Tangible Assets

· Freehold Land

· Leasehold Land

· Factory Building

· Plant and Machinery

· Computer

· Furniture and Fixture

· Vehicle

Intangible assets

· Computer Software

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 records 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.62.45
UK Pound	1	Rs.102.01
Euro	1	Rs.84.35

INFORMATION DETAILS

Report Prepared by :

NTH

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	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--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		47

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.