MIRA INFORM REPORT

Report Date :

26.02.2014

IDENTIFICATION DETAILS

Name :	SUPREME-TREVES PRIVATE LIMITED
Registered Office :	Plot No. 110, 5^th Floor, 16^th Road, Chembur, Mumbai – 400071, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	05.11.1996
Com. Reg. No.:	11-103764
Capital Investment / Paid-up Capital :	Rs. 222.322 Millions
CIN No.: [Company Identification No.]	U34200MH1996PTC103764
TAN No.: [Tax Deduction & Collection Account No.]	MUMS34841C
PAN No.: [Permanent Account No.]	AACCS4085Q
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Automobile Insulation Components.
No. of Employees :	500 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (53)

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

Maximum Credit Limit :	USD 3770000
Status :	Satisfactory
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a joint venture between ‘Treves SA’ (hold 50% of Equity) and ‘Supreme Nonwovens Private Limited’ (hold 50%) It is a well-established company having satisfactory track record. Financially company performance seems to be good. Performance capacity is high. Liquidity position of the company is strong. Trade relations are reported to be fair. Business is active. Payments are reported to be regular and as per commitment. In view of strong holdings, the company can be considered for normal business dealings at usual trade terms and condition.

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	CRISIL
Rating	Long term rating : BBB+
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	April 12, 2013

Rating Agency Name	CRISIL
Rating	Short term rating : A2+
Rating Explanation	Strong degree of safety and low credit risk.
Date	April 12, 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. Vikram Jain
Designation :	Finance Department
Contact No.:	91-22-25208822
Date :	26.02.2014

LOCATIONS

Registered Office :	Plot No. 110, 5^th Floor, 16^th Road, Chembur, Mumbai – 400071, Maharashtra, India
Tel. No.:	91-22-25208822/ 25200055/ 25212323
Fax No.:	91-22-25208092
E-Mail :	mumbai@supremegroup.co.in robert.p@rpacs.in robert.p@robertpavreyassociates.com
Website :	http://www.supremegroup.co.in
Factory :	Located at: · Gujarat Bangalore

DIRECTORS

AS ON 15.11.2013

Name :

Mr. Mohan Mahadev Kavrie

Designation :

Managing director

Address :

E-25, Matru Krupa, Nandadeep Everest Colony, Sahakar Nagar, Road No. 4, Chembur, Mumbai – 400071, Maharashtra, India

Date of Birth/Age :

24.09.1948

Qualification :

B. Tech (IIT), M.S.(U.S.A)

Experience :

39 Years

Date of Appointment :

05.11.1996

DIN No.:

00243269

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	U51900MH1981PTC025149	SUPREME NONWOVENS PRIVATE LIMITED	Whole-time director	01/09/1986	01/09/1986	Active	NO
2	U34200MH1996PTC103764	SUPREME-TREVES PRIVATE LIMITED	Managing director	05/11/1996	05/11/1996	Active	NO
3	U17120MH1984PTC033072	SUPREME NONWOVEN INDUSTRIES PRIVATE LIMITED	Director	02/05/2000	02/05/2000	Active	NO
4	U28302MH1985PTC038122	MATRU FABRICS PRIVATE LIMITED	Director	25/01/2005	25/01/2005	Active	NO
5	U17123MH2007PTC170781	ERWO WOOLLENS PRIVATE LIMITED	Additional director	12/05/2007	12/05/2007	Strike off	NO
6	U17121MH2010NPL199093	INDIAN TECHNICAL TEXTILE ASSOCIATION	Director	20/01/2010	20/01/2010	Active	NO

Name :

Mr. Sanjaya Shrikrishna Kulkarni

Designation :

Director

Address :

A/12, Technocrat Society, Twin Tower Lane, Prabhadevi, Mumbai – 400025, Maharashtra, India

Date of Birth/Age :

30.05.1949

Date of Appointment :

29.09.2012

DIN No.:

00102575

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	U01222AP1999PTC031203	SL POULTRY PRIVATE LIMITED	Director	25/02/1999	25/02/1999	-	Active	NO
2	U74140MH1999PTC120805	INDIAN DIRECT EQUITY ADVISORS PRIVATE LIMITED	Director	14/07/1999	14/07/1999	-	Active	NO
3	U72200KA1999PTC025232	MISTRAL SOLUTIONS PRIVATE LIMITED	Nominee director	26/03/2001	26/03/2001	11/01/2008	Active	NO
4	U72200MH1990PLC056987	UTV SOFTWARE COMMUNICATIONS LIMITED	Director	25/02/2002	25/02/2002	16/03/2012	Active	NO
5	U99999MH1995PTC095333	PRO CAPITAL ADVISORS PRIVATE LIMITED	Director	11/12/2002	11/12/2002	-	Active	NO
6	L27203DD1989PLC003240	TIME TECHNOPLAST LIMITED	Director	25/03/2003	25/03/2003	-	Active	NO
7	U65991MH2004PTC149164	EUREKA CAPITAL MANAGEMENT PRIVATE LIMITED	Director	04/11/2004	04/11/2004	27/12/2010	Active	NO
8	L15142AP1986PLC006957	AGRO TECH FOODS LIMITED	Director	11/01/2005	11/01/2005	-	Active	NO
9	L25209DD1992PLC004656	TPL PLASTECH LIMITED	Director	14/07/2006	14/07/2006	-	Active	NO
10	U31909DD1998PLC004665	NED ENERGY LIMITED	Director	29/09/2007	29/09/2007	-	Active	NO
11	U32300MH2007PLC171337	UTV GLOBAL BROADCASTING LIMITED	Director	27/07/2009	06/08/2008	16/03/2012	Active	NO
12	L80101MH2006PLC163028	TREE HOUSE EDUCATION & ACCESSORIES LIMITED	Director	30/09/2009	13/08/2008	-	Active	NO
13	U80904DL2009PTC194664	IPROF LEARNING SOLUTIONS INDIA PRIVATE LIMITED	Director	31/03/2011	29/09/2010	-	Active	NO
14	U64201DL1998PLC096685	SU-KAM POWER SYSTEMS LIMITED	Additional director	15/05/2012	15/05/2012	-	Active	NO
15	U34200MH1996PTC103764	SUPREME-TREVES PRIVATE LIMITED	Director	29/09/2012	18/07/2012	-	Active	NO

Name :

Mr. Amit Mohan Kavrie

Designation :

Director

Address :

E-25, Matru Krupa, Nandadeep Everest Colony, Sahakar Nagar, Road No. 4, Chembur, Mumbai – 400071, Maharashtra, India

Date of Birth/Age :

21.08.1977

Qualification :

B.S. Textile Tech (USA), M.S.(USA)

Experience :

11 Years

Date of Appointment :

04.03.2005

DIN No.:

00153017

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	U51900MH1981PTC025149	SUPREME NONWOVENS PRIVATE LIMITED	Director	31/12/2003	31/12/2003	Active	NO
2	U34200MH1996PTC103764	SUPREME-TREVES PRIVATE LIMITED	Director	04/03/2005	04/03/2005	Active	NO
3	U34101MH2006PTC159745	CERA TECHNOLOGIES PRIVATE LIMITED	Director	15/02/2006	15/02/2006	Active	NO
4	U17120MH1984PTC033072	SUPREME NONWOVEN INDUSTRIES PRIVATE LIMITED	Director	10/07/2006	10/07/2006	Active	NO
5	U17123MH2007PTC170781	ERWO WOOLLENS PRIVATE LIMITED	Additional director	12/05/2007	12/05/2007	Strike off	NO
6	U28302MH1985PTC038122	MATRU FABRICS PRIVATE LIMITED	Director	14/09/2011	14/09/2011	Active	NO

Name :

Mr. Prakash Gopalkrishna Pai

Designation :

Director

Address :

301, Macromol Apartment, “A” Chharwada Road, G.I.D.C., Valsad, Vapi – 396195, Gujarat, India

Date of Birth/Age :

19.03.1946

Date of Appointment :

01.11.1999

DIN No.:

01747653

Name :

Guillaume Treves

Designation :

Director

Address :

10, Rue Vavin, Paris – 75006, France

Date of Birth/Age :

10.07.1966

Date of Appointment :

12.12.1996

DIN No.:

02189609

Name :

Bernard Roger Edouard Treves

Designation :

Director

Address :

40, Rue Lauriston, Paris – 75116, France

Date of Birth/Age :

21.05.1948

Date of Appointment :

01.11.1999

DIN No.:

02189636

Name :

Serge Andre Auguste Germaine

Designation :

Director

Address :

10, Rue Bovary, Deauville 14800

Date of Birth/Age :

18.10.1955

Date of Appointment :

29.09.2012

DIN No.:

05223577

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	U34200MH1996PTC103764	SUPREME-TREVES PRIVATE LIMITED	Director	29/09/2012	09/03/2012	Active	NO
2	U17290RJ2012PTC037666	TREVES BANSWARA PRIVATE LIMITED	Director	24/05/2012	05/04/2012	Active	NO

Name :

Joel Coque

Designation :

Director

Address :

439, Rue Saint Vincent, Paris 75018

Date of Birth/Age :

21.06.1952

Date of Appointment :

29.09.2012

DIN No.:

05223583

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	U34200MH1996PTC103764	SUPREME-TREVES PRIVATE LIMITED	Director	29/09/2012	09/03/2012	Active	NO

KEY EXECUTIVES

Name :	Mr. Vikram Jain
Designation :	Finance Department

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 15.11.2013

Names of Shareholders	No. of Shares	Percentage of Holding
Supreme Nonwovens Private Limited, India	11116092	50.00
Etablisse MentsTreves S.A., France	11116092	50.00
Total	22232184	100.00

AS ON 15.11.2013

Equity Share Breakup	Percentage of Holding
Category
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	50.00
Bodies corporate	50.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Automobile Insulation Components.

Products/ Services :

ITC Code No.	Product Descriptions
56029000	Felt, whether or not Impregnated, Coated, Covered or Laminated
87089900	Nonwovens, whether or not Impregnated, Coated, Covered or Laminated
87089900	Other parts and accessories: Others

Exports :

Products :

Finished Goods

Countries :

· UK

Imports :

Products :

Raw Material

Countries :

· UK

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

GENERAL INFORMATION

No. of Employees :

500 (Approximately)

Bankers :

· The Shamrao Vithal Co-operative Bank Limited

913, Natasha Plaza, D.K. Sandhu Marg, Chembur, Mumbai - 400071, Maharashtra, India

· The Saraswat Co-operative Bank Limited ( Lead Bankers)

CST Branch , CST, Mumbai - 400001, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG-TERM BORROWINGS
Rupee term loans from banks	499.410	416.215
Loans repayable on demand from others	2.863	2.863
Other loans and advances	0.000	0.012
SHORT TERM BORROWINGS
Working capital loans from banks	189.126	163.466
Total	691.399	582.556

Banking Relations :	--
Financial Institution :	· SBICAP Trustee Company Limited 202, Maker Tower, 'E', Cuffe Parade, Colaba, Mumbai - 400005, Maharashtra, India
Auditors :
Name :	Kalyaniwalla And Mistry Chartered Accountants
Address :	Kalpataru Heritage, 127 Mahatma Gandhi Road, Mumbai – 400023, Maharashtra, India
Income-tax PAN of auditor or auditor's firm :	AAAFK7554R
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	· Supreme Nonwoven Industries Private Limited [U17120MH1984PTC033072] Supreme Poly Fibers Private Limited Trety Spain Cera France Treves Slovakia M.A.T.T. France Treves UK
Enterprises with substantial interest in the Company :	· Supreme Nonwovens Private Limited [U51900MH1981PTC025149] Treves S.A.
Joint Venture :	Supreme Treves Pelzer Private Limited
Associate :	Cera Technologies Private Limited [U34101MH2006PTC159745]

CAPITAL STRUCTURE

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
24,000,000	Equity Shares	Rs. 10/- each	Rs. 240.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
22,232,184	Equity Shares	Rs. 10/- each	Rs. 222.322 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	222.322	222.322	222.322
(b) Reserves & Surplus	720.287	481.214	318.148
(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)	942.609	703.536	540.470
(3) Non-Current Liabilities
(a) long-term borrowings	502.273	419.090	369.167
(b) Deferred tax liabilities (Net)	103.195	67.255	65.970
(c) Other long term liabilities	4.100	4.100	1.000
(d) long-term provisions	16.494	11.683	5.271
Total Non-current Liabilities (3)	626.062	502.128	441.408
(4) Current Liabilities
(a) Short term borrowings	215.626	163.466	149.582
(b) Trade payables	318.338	222.386	328.752
(c) Other current liabilities	476.213	524.952	264.607
(d) Short-term provisions	3.180	68.560	0.000
Total Current Liabilities (4)	1,013.357	979.364	742.941
TOTAL	2,582.028	2,185.028	1,724.819
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1,393.876	1,125.556	931.306
(ii) Intangible Assets	4.658	2.523	5.048
(iii) Capital work-in-progress	45.396	55.562	119.967
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	28.114	28.961	2.410
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	95.684	75.594	28.919
(e) Other Non-current assets	4.923	5.787	29.735
Total Non-Current Assets	1,572.651	1,293.983	1,117.385
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	306.231	170.368	121.062
(c) Trade receivables	571.179	533.053	332.101
(d) Cash and cash equivalents	28.194	88.970	30.874
(e) Short-term loans and advances	99.893	93.455	121.397
(f) Other current assets	3.880	5.199	2.000
Total Current Assets	1,009.377	891.045	607.434
TOTAL	2,582.028	2,185.028	1,724.819

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Revenue from Operations	3977.476	3123.470	2232.531
		Other Income	26.213	25.973	NA
		TOTAL	4003.689	3149.443	NA
Less	EXPENSES
		TOTAL	3563.820	2792.473	NA
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		439.869	356.970	204.067
Less/ Add	DEPRECIATION/ AMORTISATION		94.665	82.612	62.795
	PROFIT BEFORE TAX		345.204	274.359	141.272
Less	TAX		105.723	46.284	27.212
	PROFIT AFTER TAX		239.481	228.074	114.060
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	62.470	28.435	22.073
	Earnings Per Share (Rs.)		10.77	10.26	5.13

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	5.98	7.24	NA
Net Profit Margin (PBT/Sales)	(%)	8.68	8.78	6.33
Return on Total Assets (PBT/Total Assets}	(%)	13.76	13.06	8.82
Return on Investment (ROI) (PBT/Networth)		0.37	0.39	0.26
Debt Equity Ratio (Total Debt/Networth)		0.76	0.83	0.96
Current Ratio (Current Asset/Current Liability)		1.00	0.91	0.82

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	222.322	222.322	222.322
Reserves & Surplus	318.148	481.214	720.287
Net worth	540.470	703.536	942.609
long-term borrowings	369.167	419.090	502.273
Short term borrowings	149.582	163.466	215.626
Total borrowings	518.749	582.556	717.899
Debt/Equity ratio	0.960	0.828	0.762

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	2232.531	3123.470	3977.476
		39.907	27.342

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	2232.531	3123.470	3977.476
Profit	114.060	228.074	239.481
	5.11%	7.30%	6.02%

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	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	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10472250	20/09/2013	1,221,628,000.00	SBICAP TRUSTEE COMPANY LIMITED	202, MAKER TOWER, 'E', CUFFE PARADE, COLABA, MUMBAI - 400005, MAHARASHTRA, INDIA	B91139527
2	10379738	05/08/2013 *	925,952,000.00	SBICAP TRUSTEE COMPANY LIMITED	202, MAKER TOWER, 'E', CUFFE PARADE, COLABA, MUMBAI - 400005, MAHARASHTRA, INDIA	B83545798
3	10379570	30/09/2013 *	1,221,628,000.00	SBICAP TRUSTEE COMPANY LIMITED	202, MAKER TOWER, 'E', CUFFE PARADE, COLABA, MUMBAI - 400005, MAHARASHTRA, INDIA	B86263001
4	10348247	10/04/2012	4,000,000.00	THE SHAMRAO VITHAL CO-OPERATIVE BANK LIMITED (LEAD  BANK)	913, NATASHA PLAZA, D.K.SANDHU MARG, CHEMBUR, MUMBAI - 400071, MAHARASHTRA, INDIA	B37160967
5	10263501	06/01/2011	23,300,000.00	THE SHAMRAO VITHAL CO-OPERATIVE BANK LIMITED (LEAD  BANK)	CHEMBUR-913, NATASHA PLAZA, D.K. SANDHU MARG, CHEMBUR, MUMBAI - 400071, MAHARASHTRA, INDIA	B03836657
6	10259073	08/12/2010	20,412,000.00	THE SHAMRAO VITHAL CO-OPERATIVE BANK LIMITED	CHEMBUR BRANCH, 913, NATASHA PLAZA, D.K. SANDHU MARG, CHEMBUR, MUMBAI - 400071, MAHARASHTRA, INDIA	B02190940
7	10259074	08/12/2010	20,413,000.00	THE SARASWAT CO-OPERATIVE BANK LIMITED	C.S.T. BRANCH, TAJ BUILDING, A.K. NAYAK MARG, CST, MUMBAI - 400001, MAHARASHTRA, INDIA	B02191807
8	10244763	15/10/2010	10,000,000.00	THE SARASWAT CO-OPERATIVE BANK LIMITED	CST BRANCH, CST, MUMBAI - 400001, MAHARASHTRA, INDIA	A96532056
9	10243711	29/09/2010	20,000,000.00	THE SARASWAT CO-OPERATIVE BANK LIMITED	CST BRANCH, CST, MUMBAI - 400001, MAHARASHTRA, INDIA	A96236302
10	10239741	13/08/2010	495,000.00	THE SARASWAT CO-OPERATIVE BANK LIMITED	RASEC DADAR BRANCH, LAXMAN ZULLA, 1ST FLOOR, 50,  RANADE ROAD, DADAR, MUMBAI - 400028, MAHARASHTRA, INDIA	A94156403
11	10202519	07/07/2011 *	37,944,000.00	THE SHAMRAO VITHAL CO-OPERATIVE BANK LIMITED (LEAD  BANK)	913, NATASHA PLAZA, D.K.SANDHU MARG, CHEMBUR, MUMBAI - 400071, MAHARASHTRA, INDIA	B16222390
12	10172484	06/08/2009	2,500,000.00	THE SARASWAT CO-OPERATIVE BANK LIMITED	CST BRANCH, CST, MUMBAI - 400001, MAHARASHTRA, INDIA	A67918946
13	10154088	17/04/2009	7,800,000.00	THE SARASWAT CO-OPERATIVE BANK LIMITED	CST BRANCH, CST, MUMBAI - 400001, MAHARASHTRA, INDIA	A60715794
14	10092209	07/03/2008	1,007,700.00	THE SARASWAT CO-OPERATIVE BANK LIMITED	CST BRANCH, CST, MUMBAI - 400001, MAHARASHTRA, INDIA	A34367201
15	10076612	07/02/2011 *	66,733,000.00	THE SARASWAT CO-OPERATIVE BANK LIMITED	CHEMBUR BRANCH, 913, NATASHA PLAZA, D.K. SANDHU MARG, CHEMBUR, MUMBAI - 400071, MAHARASHTRA, INDIA	B08599920
16	10094876	13/11/2007	12,481,000.00	FORD INDIA PRIVATE LIMITED	S.P.KOIL POST, CHENGALPATTU, KANCHEEPURAM - 603 2  04., KANCHEEPURAM - 603204, TAMILNADU, INDIA	A35083757
17	10067004	05/09/2007	13,200,000.00	THE SARASWAT CO-OPERATIVE BANK LIMITED ( LEAD BANKERS)	CST BRANCH, CST, MUMBAI - 400001, MAHARASHTRA, INDIA	A22872436
18	10065016	11/08/2007	34,200,000.00	THE SARASWAT CO-OPERATIVE BANK LIMITED ( LEAD BANKERS)	CST BRANCH, CST, MUMBAI - 400001, MAHARASHTRA, INDIA	A21831631
19	10043254	13/03/2013 *	365,741,000.00	THE SHAMRAO VITHAL CO-OPERATIVE BANK LIMITED	CST BRANCH, CST, MUMBAI - 400001, MAHARASHTRA, INDIA	B70605423
20	10136944	15/06/2006	13,125,000.00	THE SHAMRAO VITHAL CO-OPERATIVE BANK LIMITED.	NATASHA PLAZA ,PLOT NO.913, D.K SANDHU MARG, CHEMBUR (EAST), MUMBAI - 400071, MAHARASHTRA, INDIA	A21219308
21	10002143	21/04/2011 *	284,012,000.00	THE SHAMRAO VITHAL CO-OPERATIVE BANK LIMITED (LEAD BAN  KERS)	NATASHA PLAZA ,PLOT NO.913, D.K SANDHU MARG, CHEMBUR (EAST), MUMBAI - 400071, MAHARASHTRA, INDIA	B11032745
22	10065868	05/03/2011 *	30,874,000.00	THE SHAMRAO VITHAL CO-OP. BANK LIMITED (LEAD BANKERS)	NATASHA PLAZA ,PLOT NO.913, D.K SANDHU MARG, CHEMBUR (EAST), MUMBAI - 400071, MAHARASHTRA, INDIA	B08858540
23	80029418	21/04/2011 *	274,024,000.00	THE SHAMRAO VITHAL CO-OPERATIVE BANK LIMITED(LEAD  BANKERS)	NATASHA PLAZA ,PLOT NO.913, D.K SANDHU MARG, CHEMBUR (EAST), MUMBAI - 400071, MAHARASHTRA, INDIA	B11034253
24	80056514	15/10/2009 *	5,000,000.00	THE SARASWAT CO-OPERATIVE BANK LIMITED	CST BRANCH, CST, MUMBAI - 400001, MAHARASHTRA, INDIA	A72757339

* Date of charge modification

UNSECURED LOANS

UNSECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
SHORT TERM BORROWINGS
Intercorporate deposits	26.500	0.000
Total	26.500	0.000

CHANGE OF ADDRESS:

The Registered Office of the company has been shifted from Centre Point, 7^th Floor, 18^th Road, Chembur, Mumbai - 400071, Maharashtra, India to the present address w.e.f.29.11.2010.

FIXED ASSETS:

· Land

Buildings

Residential building

Office building

Factory building

Plant and equipment

Factory equipments

Furniture and fixtures

Vehicles

Motor vehicles

Office equipment

Computer equipments

Other equipments

Goodwill

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 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. 61.98
UK Pound	1	Rs. 103.31
Euro	1	Rs. 85.14

INFORMATION DETAILS

Information Gathered by :	PDT
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTERS
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		53

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.