1. Summary Information

		Country	India
Company Name	INDIA SHOES EXPORTS PRIVATE LIMITED	Principal Name 1	Mr. Rafeeque Ahmed Mecca
Status	Satisfactory	Principal Name 2	Mr. Ashfaque Ahmed Mecca
		Registration #
Street Address	151/4, Mount Poonamallee High Road, Ramapuram, Chennai – 600089, Tamilnadu
Established Date	17.04.1998	SIC Code	--
Telephone#	91-44-22520710	Business Style 1	Manufacturer
Fax #	91-44-22520358	Business Style 2	Exporter
Homepage	--	Product Name 1	Footwear
# of employees	500 (Approximately)	Product Name 2	--
Paid up capital	Rs. 88,177,000/-	Product Name 3	--
Shareholders	Bodies corporate 98.68%, Directors or relatives of directors 1.32%	Banking	State Bank of India
Public Limited Corp.	No	Business Period	15 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	Ba (45)
Related Company
Relation	Country	Company Name	CEO
Holding Company	--	Farida Holdings Private Limited	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2013		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	326,903,000	Current Liabilities	293,514,000
Inventories	537,281,000	Long-term Liabilities	450,279,000
Fixed Assets	137,749,000	Other Liabilities	9,508,000
Deferred Assets	000	Total Liabilities	753,301,000
Invest& other Assets	13,522,000	Retained Earnings	173,977,000
		Net Worth	262,154,000
Total Assets	1,015,455,000	Total Liab. & Equity	1,015,455,000
Total Assets (Previous Year)	1,029,640,000
P/L Statement as of	31.03.2013		(Unit: Indian Rs.)
Sales/ Total Income	1,584,104,000	Net Profit	12,751,000
Sales(Previous yr)/ Total Income	1,137,614,000	Net Profit(Prev.yr)	11,804,000

MIRA INFORM REPORT

Report Date :

22.02.2014

IDENTIFICATION DETAILS

Name :	INDIA SHOES EXPORTS PRIVATE LIMITED
Registered Office :	151/4, Mount Poonamallee High Road, Ramapuram, Chennai – 600089, Tamilnadu
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	17.04.1998
Com. Reg. No.:	18-040339
Capital Investment / Paid-up Capital :	Rs. 88.177 Millions
CIN No.: [Company Identification No.]	U19201TN1998PTC040339
PAN No.: [Permanent Account No.]	AAACI5683A
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Footwear.
No. of Employees :	500 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 1048600
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a part of Farida Group, one of the biggest exporter of leather and leather goods. It is a well-established company having satisfactory track. The company has witnessed a robust revenue growth, but has reported a low profit margin during 2013. The ratings also take into consideration the working capital intensive nature of the operations, the sharp increase in leather prices in recent years and the exposure to significant forex risk considering the contribution of exports to the overall revenue. However, trade relations appear to be fair. Business is active. Payment terms are reported as slow but correct. In view of the long standing track record of the promoters and sustained association with reputed international brands in the footwear industry, the subject can be considered 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 worst is over for India’s economy with gross domestic product likely to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s Analytics. Concerns over the rupee and current account deficit are under control, said the agency. Ratings firm Crisil has forecast 6 % growth for 2014/15 up from the estimated 4.8 % for 2013/14.  Total economic growth, infrastructure bottlenecks and lack of transparency and consistency in foreign direct investment policies seem to have taken a toll on India’s attractiveness as an investment destination, says an Ernst & Young survey.  Projects with FDI component fell 16.4 % across the globe in 2012 from the previous year.  The drop in India was steeper at 21 %. State run carrier Air India is doling out free tickets to its 24000 employees, even as it expects to incur a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn. 550000 number of jobs generated across India in 2013, a fall of 0.4 % as compared to with a year earlier. The National Capital Region has a one-fourth share in total jobs created, according to a study by industry lobby group Assochem, Banks, real estate, automobile and telecommunications sectors are showing a rise of job creation. $ 805 mn investments by venture capital firms in India during 2013, registering a drop of about 18 % over the previous year. The Information Technology and IT-Enabled Services Industry retained its status as the favourable venture capital investors in 2013. Pakistan has temporarily banned gold imports for the second time in six months, as it tries to stem smuggling into India. India’s import duty on gold is 10 % and curbs on purchases have dried up legal imports into what used to be the world’s biggest bullion buyers. The World Gold Council puts the amount smuggled into India at upto 200 tonnes in 2013. The Reserve Bank of India has proposed that unclaimed bank deposits estimated to be about Rs 35000 mn be used for education and awareness among depositors.  According to the plan, deposits that have not been claimed for at least 10 years will be transferred to the scheme.

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	BB+ [Long Term Loans]
Rating Explanation	Moderate risk of default regarding timely servicing of financial obligations.
Date	October 2013

Rating Agency Name	ICRA
Rating	A4+ [Short Term Non Fund Based Limits]
Rating Explanation	Minimal degree of safety and very high credit risk.
Date	October 2013

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.

INFORMATION PARTED BY

Name :	Mr. Aslam Sheriff
Designation :	General Manager
Contact No.:	91-8939806470
Date :	19.02.2014

LOCATIONS

Registered / Corporate Office / Factory :	151/4, Mount Poonamallee High Road, Ramapuram, Chennai – 600089, Tamilnadu, India
Tel. No.:	91-44-22520710/ 22521515/ 22521946/ 22521654/ 22522610
Fax No.:	91-44-22520358
E-Mail :	holding@farida.co.in office@indiashoesexports.in hrd@forida.com

DIRECTORS

AS ON 30.09.2013

Name :

Mr. Rafeeque Ahmed Mecca

Designation :

Managing Director

Address :

10 Kothari Road, Nungambakkam, Chennai – 600034, Tamilnadu, India

Date of Birth/Age :

17.09.1947

Date of Appointment :

17.04.1998

Din No.:

00013749

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	L85110TN1979PLC008035	APOLLO HOSPITALS ENTERPRISE LIMITED	Director	29/12/1979	29/12/1979	-	Active	NO
2	U18209TN1981PTC008805	FARIDA CLASSIC SHOES PRIVATE LIMITED	Managing director	09/06/1981	09/06/1981	-	Active	NO
3	U65993TN1985PTC011781	FARIDA HOLDINGS PRIVATE LIMITED	Director	19/04/1985	19/04/1985	-	Active	NO
4	U18209TN1987PTC014919	DELTA SHOES PRIVATE LIMITED	Managing director	29/09/1987	29/09/1987	-	Active	NO
5	U73100TN1992NPL022530	INDIAN INSTITUTE OF LEATHER PRODUCTS	Director	23/04/1992	23/04/1992	-	Active	NO
6	U19201TN1995PTC030691	BAER SHOES (INDIA) PRIVATE LIMITED	Director	28/03/1995	28/03/1995	25/06/2008	Active	NO
7	U19201TN1998PTC040339	INDIA SHOES EXPORTS PRIVATE LIMITED	Managing director	17/04/1998	17/04/1998	-	Active	NO
8	U19119TN1976PTC007207	FARIDA SHOES PRIVATE LIMITED	Managing director	01/01/2000	01/01/2000	-	Active	NO
9	U19201KA2001PTC029147	KENMORE SHOES PRIVATE LIMITED	Director	19/06/2001	19/06/2001	-	Active	NO
10	U45203TN2001NPL047485	AMBUR ECONOMIC DEVELOPMENT ORGANISATION	Director	23/07/2001	23/07/2001	-	Active	NO
11	U19129TN2004PTC053326	MADISON EXPORTS PRIVATE LIMITED	Director	26/05/2004	26/05/2004	-	Active	NO
12	U19201TN2004PTC053703	ASTON SHOES PRIVATE LIMITED	Managing director	12/07/2004	12/07/2004	-	Active	NO
13	U19112TN2005PTC055152	ARCOT SOLES PRIVATE LIMITED	Director	13/01/2005	13/01/2005	-	Active	NO
14	U74140TN2005PTC055310	FARIDA MANAGEMENT SERVICES PRIVATE LIMITED	Managing director	07/02/2005	07/02/2005	-	Strike off	NO
15	U74210TN2005PTC055311	FARIDA ENGINEERING SERVICES PRIVATE LIMITED	Managing director	07/02/2005	07/02/2005	-	Amalgamated	NO
16	U19116TN2005PTC055503	FARIDA XIEZHAN MOULDS PRIVATE LIMITED	Director	28/02/2005	28/02/2005	-	Amalgamated	NO
17	U19201TN2005PTC055925	FARIDA PRIME TANNERY PRIVATE LIMITED	Director	11/04/2005	11/04/2005	-	Active	NO
18	U19116TN2005PTC056220	AADIL ASHFAQUE & CO.PRIVATE LIMITED	Director	10/05/2005	10/05/2005	-	Active	NO
19	U19112TN2006PTC058989	JAFRA INSOLES INDIA PRIVATE LIMITED	Director	24/02/2006	24/02/2006	-	Active	NO
20	U93090TN1996NPL035469	INDIAN LEATHER INDUSTRY FOUNDATION	Director	05/08/2006	05/08/2006	-	Active	NO
21	U19201TN2004PTC053247	TOP FONDI SOLES (INDIA) PRIVATE LIMITED	Director	21/08/2007	18/06/2007	-	Amalgamated	NO
22	U19119TN1989PLC016997	AMBUR TANNERY EFFLUENT TREATMENT COMPANY LIMITED	Director	20/06/2007	20/06/2007	-	Active	NO
23	U93000TN2008NPL068574	CHENNAI ENVIRONMENTAL MANAGEMENT COMPANY OF TANNERS	Director	15/07/2008	15/07/2008	-	Active	NO
24	U93090TN1984NPL010934	COUNCIL FOR LEATHER EXPORTS	Additional director	18/12/2010	18/12/2010	-	Active	NO
25	U63090TN2011PTC080447	WESTERN GATEWAY CARGO SERVICES PRIVATE LIMITED	Director	04/05/2011	04/05/2011	-	Active	NO
26	U74999TN1910NPL002343	SOUTHERN INDIA CHAMBER OF COMMERCE & INDUSTRY	Director	07/09/2011	07/09/2011	-	Active	NO
27	U74999MH1957GOI010918	EXPORT CREDIT GUARANTEE CORPORATION OF INDIA LIMITED	Director	13/03/2012	13/03/2012	-	Active	NO
28	U74999TN2012NPL088131	LEATHER SECTOR SKILL COUNCIL	Additional director	24/07/2013	24/07/2013	-	Active	NO
29	U19200DL2014NPL263010	Confederation of Indian Footwear Industries	Director	03/01/2014	03/01/2014	-	Active	NO

Name :

Mrs. Israr Ahmed Mecca

Designation :

Director

Address :

10 Kothari Road, Nungambakkam, Chennai – 600034, Tamilnadu, India

Date of Birth/Age :

25.01.1972

Date of Appointment :

17.04.1998

Din No.:

0013799

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	U19201TN1998PTC040339	INDIA SHOES EXPORTS PRIVATE LIMITED	Director	17/04/1998	17/04/1998	Active	NO
2	U65993TN1985PTC011781	FARIDA HOLDINGS PRIVATE LIMITED	Director	01/01/2000	01/01/2000	Active	NO
3	U18209TN1995PTC032647	EXETER SHOES PRIVATE LIMITED	Managing director	01/01/2000	01/01/2000	Amalgamated	NO
4	U19201TN2001PTC046498	CHENNAI FOOTWEAR PRIVATE LIMITED	Director	25/01/2001	25/01/2001	Amalgamated	NO
5	U19201TN2005PTC055925	FARIDA PRIME TANNERY PRIVATE LIMITED	Director	11/04/2005	11/04/2005	Active	NO
6	U19201TN2003PTC050177	STANFORD SHOES PRIVATE LIMITED	Director	13/01/2007	13/01/2007	Amalgamated	NO
7	U19200TN2008PTC067408	PAALAR SHOES PRIVATE LIMITED	Director	21/04/2008	21/04/2008	Active	NO
8	U74999TN2012NPL088131	LEATHER SECTOR SKILL COUNCIL	Additional director	24/07/2013	24/07/2013	Active	NO

Name :

Mr. Ashfaque Ahmed Mecca

Designation :

Whole Time Director

Address :

10, Kothari Road, Nungambakkam, Chennai – 600034, Tamilnadu, India

Date of Birth/Age :

04.05.1973

Date of Appointment :

01.10.2011

Din No.:

00013807

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	U19119TN1976PTC007207	FARIDA SHOES PRIVATE LIMITED	Director	01/01/2000	01/01/2000	Active	NO
2	U65993TN1985PTC011781	FARIDA HOLDINGS PRIVATE LIMITED	Director	01/01/2000	01/01/2000	Active	NO
3	U19201KA2001PTC029147	KENMORE SHOES PRIVATE LIMITED	Director	19/06/2001	19/06/2001	Active	NO
4	U19201TN2003PTC050177	STANFORD SHOES PRIVATE LIMITED	Director	13/01/2003	13/01/2003	Amalgamated	NO
5	U19129TN2004PTC053326	MADISON EXPORTS PRIVATE LIMITED	Director	26/05/2004	26/05/2004	Active	NO
6	U19201TN2005PTC055925	FARIDA PRIME TANNERY PRIVATE LIMITED	Director	11/04/2005	11/04/2005	Active	NO
7	U19200TN2008PTC067408	PAALAR SHOES PRIVATE LIMITED	Director	21/04/2008	21/04/2008	Active	NO
8	U19201TN1998PTC040339	INDIA SHOES EXPORTS PRIVATE LIMITED	Whole-time director	01/10/2011	01/10/2011	Active	NO

KEY EXECUTIVES

Name :	Mr. Aslam Sheriff
Designation :	General Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2013

Names of Shareholders	No. of Shares	% of Holding
M Rafeeque Ahmed Mecca	116281	1.32
Farida Holding Private Limited, India	6661199	75.54
Farida Classic Shoes Private Limited, India	1109613	12.58
Delta Shoe Private Limited, India	232947	2.64
Farida Shoes Private Limited, India	232560	2.64
Farida Leatherwear Private Limited, India	116280	1.32
Aston Shoes Private Limited, India	116280	1.32
Farida Primer Tannery Private Limited, India	116280	1.32
Kenmore Shoes Private Limited, India	116280	1.32
TOTAL	8817720	100.00

AS ON 30.09.2013

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	98.68
Directors or relatives of directors	1.32
TOTAL	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Footwear.

Products :

PRODUCT DESCRIPTION	ITC CODE
Shoes	64031910

GENERAL INFORMATION

No. of Employees :

500 (Approximately)

Bankers :

State Bank of India, Leather and International Branch, MVJ Towers, 177/1, Poonamallee High Road, Kilpauk, Chennai – 600010, Tamilnadu, India

Facilities :

Secured Loan	As on 31.03.2013 [Rs. in Millions]
Short Term Borrowings
Term Loans From Banks	450.279
TOTAL	450.279
Secured Loan	As on 31.03.2012 [Rs. in Millions]
Rupee term loans from banks (Hypothecation of Machineries, Stock of Raw Materials, Stocks in progress, Finished Goods, Document of title to goods consumables, stores, spares etc. backed by export orders.)	491.445
TOTAL	491.445

Banking Relations :	--
Auditors :
Name :	Akber Rifa and Company Chartered Accountants
Address :	C-8, Orchid, Manor Apartment, Diwan Rama Road, Purasawalkam, Chennai – 600084, Tamilnadu, India
PAN No:	AAUFA5645D
Holding Company :	Farida Holdings Private Limited CIN No.: U65993TN1985PTC011781 Aston Shoes Private Limited CIN No.: U19201TN2004PTC053703
Associates :	Arcot Soles Private Limited CIN No.: U19112TN2005PTC055152 Delta Shoes Private Limited CIN No.: U18209TN1987PTC014919 Farida Classic Shoes Private Limited CIN No.: U18209TN1981PTC008805 Farida Leatherware Private Limited CIN No.: U18209TN1992PTC022111 Farida Prime Tannery Private Limited CIN No.: U19201TN2005PTC055925 Farida Shoes Private Limited CIN No.: U19119TN1976PTC007207 Jafra Insoles India Private Limited CIN No.: U19112TN2006PTC058989 Kenmore Shoes Private Limited CIN No.: U19201KA2001PTC029147 Mercury Shoes Private Limited CIN No.: U22121TN1994PTC029120 Paalar Shoes Private Limited CIN No.: U19200TN2008PTC067408

CAPITAL STRUCTURE

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
9200000	Equity Shares	Rs.10/- each	Rs.92.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
8817720	Equity Shares	Rs.10/- each	Rs.88.177 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013
I. EQUITY AND LIABILITIES
(1) Shareholders' Funds
(a) Share Capital	88.177
(b) Reserves & Surplus	173.977
(c) Money received against share warrants	0.000
(2) Share Application money pending allotment	0.000
Total Shareholders’ Funds (1) + (2)	262.154
(3) Non-Current Liabilities
(a) Long-term borrowings	0.000
(b) Deferred tax liabilities (Net)	4.929
(c) Other long term liabilities	46.209
(d) Long-term provisions	0.000
Total Non-current Liabilities (3)	51.138
(4) Current Liabilities
(a) Short term borrowings	450.279
(b) Trade payables	206.317
(c) Other current liabilities	40.988
(d) Short-term provisions	4.579
Total Current Liabilities (4)	702.163
TOTAL	1015.455
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	127.085
(ii) Intangible Assets	10.664
(iii) Capital work-in-progress	0.000
(iv) Intangible assets under development	0.000
(b) Non-current Investments	13.522
(c) Deferred tax assets (net)	0.000
(d) Long-term Loan and Advances	0.935
(e) Other Non-current assets	0.619
Total Non-Current Assets	152.825
(2) Current assets
(a) Current investments	0.000
(b) Inventories	537.281
(c) Trade receivables	218.939
(d) Cash and cash equivalents	11.497
(e) Short-term loans and advances	93.017
(f) Other current assets	1.896
Total Current Assets	862.630
TOTAL	1015.455

SOURCES OF FUNDS		31.03.2012	31.03.2011
SHAREHOLDERS FUNDS
1] Share Capital		88.177	88.177
2] Share Application Money		0.000	0.000
3] Reserves & Surplus		163.698	151.894
4] (Accumulated Losses)		0.000	0.000
NETWORTH		251.875	240.071
LOAN FUNDS
1] Secured Loans		491.445	473.036
2] Unsecured Loans		0.000	3.214
TOTAL BORROWING		491.445	476.250
DEFERRED TAX LIABILITIES		5.120	3.603
TOTAL		748.440	719.924
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		140.488	129.007
Capital work-in-progress		0.000	0.000
INVESTMENT		13.521	13.666
DEFERRED TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	550.116	436.112
	Sundry Debtors	201.429	135.895
	Cash & Bank Balances	18.400	16.181
	Other Current Assets	6.504	7.278
	Loans & Advances	99.182	226.481
Total Current Assets		875.631	821.947
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	185.548	240.159
	Other Current Liabilities	92.441	0.000
	Provisions	3.211	4.537
Total Current Liabilities		281.200	244.696
Net Current Assets		594.431	577.251
MISCELLANEOUS EXPENSES		0.000	0.000
TOTAL		748.440	719.924

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	1584.104	1137.614	849.926
		Other Income	127.674	118.507	111.054
		TOTAL	1711.778	1256.121	960.980
Less	EXPENSES
		TOTAL	1694.615	1240.070	948.612
	PROFIT / (LOSS) BEFORE TAX		17.163	16.051	12.368
Less	TAX		4.412	4.247	3.802
	PROFIT / (LOSS) AFTER TAX		12.751	11.804	8.566
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	1467.055	1099.578	816.036
	Earnings / (Loss) Per Share (Rs.)		1.45	1.34	0.97

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	0.74	0.94	0.89
Net Profit Margin (PBT/Sales)	(%)	1.08	1.41	1.46
Return on Total Assets (PBT/Total Assets}	(%)	1.71	1.58	1.30
Return on Investment (ROI) (PBT/Networth)		0.07	0.06	0.05
Debt Equity Ratio (Total Debt/Networth)		1.72	1.95	1.98
Current Ratio (Current Asset/Current Liability)		1.23	3.11	3.36

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(INR in Mlns)	(INR in Mlns)	(INR in Mlns)
Sales	849.926	1137.614	1584.104
		33.849	39.248

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(INR in Mlns)	(INR in Mlns)	(INR in Mlns)
Sales	849.926	1137.614	1584.104
Profit	8.566	11.804	12.751
	1.01%	1.04%	0.80%

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	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	--
22]	Litigations that the firm / promoter involved in	--
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]	PAN of Proprietor/Partner/Director, if available	No
32]	Date of Birth of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

INDEX OF CHARGES:

S. NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	90285896	02/01/2001 *	96,500,000.00	STATE BANK OF INDIA	LEATHER INTERNATIONAL BRANCH, POONARNALLE HIGH ROAD, CHENNAI - 600007, TAMILNADU, INDIA	-
2	90285895	07/09/2007 *	1,498,900,000.00	STATE BANK OF INDIA	LEATHER INTERNATIONAL BRANCH, MVJ TOWERS, 177/1, P.H.ROAD, KILPAUK, CHENNAI - 600010, TAMILNADU, INDIA	A26583195
3	90285233	24/06/2009 *	1,715,900,000.00	STATE BANK OF INDIA	LEATHER INTERNATIONAL BRANCH, MVJ TOWERS, 177/1, P.H.ROAD, KILPAUK, CHENNAI - 600010, TAMILNADU, INDIA	A66935339
4	90285137	06/07/2009 *	1,717,100,000.00	STATE BANK OF INDIA	LEATHER INTERNATIONAL BRANCH, MVJ TOWERS, 177/1, P.H.ROAD, KILPAUK, CHENNAI - 600010, TAMILNADU, INDIA	A68062645
* Date of charge modification

FIXED ASSETS:

Tangible Assets

• Land
• Buildings
• Plant and Equipment
• Furniture and Fixtures
• Vehicles
• Office Equipment
• Computer Equipments

Intangible Assets

• Goodwill

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.62.16
UK Pound	1	Rs.103.44
Euro	1	Rs.85.27

INFORMATION DETAILS

Information Gathered by :	PDT
Report Prepared by :	TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	4
--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
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		45

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.