MIRA INFORM REPORT

Report Date :

27.02.2014

IDENTIFICATION DETAILS

Name :	MARVEL TEA ESTATE (INDIA) LIMITED
Registered Office :	Marvel Roaduklana, Uklana Hissar – 125113, Haryana
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	14.05.1996
Com. Reg. No.:	05-033106
Capital Investment / Paid-up Capital :	Rs.55.852 Millions
CIN No.: [Company Identification No.]	U01132HR1996PLC033106
PAN No.: [Permanent Account No.]	AACCM6183D
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Blending and packaging of tea.
No. of Employees :	60 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

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

Maximum Credit Limit :	USD 1220000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. The rating takes into consideration modest scale of operations and huge working capital requirements. However, trade relation are reported to be fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealing 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.

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long Terms Rating = BB+
Rating Explanation	Have moderate risk of default
Date	26.02.2013

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 (GENERAL DETAILS)

Name :	Mr. Shansher Singla
Designation :	Accounts Manager
Contact No.:	91-9355647314
Date :	26.02.2014

LOCATIONS

Registered Office :	Marvel Roaduklana, Uklana Hissar – 125113, Haryana, India
Tel. No.:	91-1693-237586
Fax No.:	Not Available
E-Mail :	ramniwasca@rediffmail.com info@marveltea.com
Website :	www.marveltea.com
Corporate Office :	Marvel House, Sector 44, Gurgoan – 122003, Haryana, India
Tel. No.:	91-124-3333000

DIRECTORS

As on 27.09.2013

Name :

Mr. Raghuvir Jain

Designation :

Managing Director

Address :

Marvel House, VPO Uklana, Hisar – 125113, Hayrana, India

Date of Birth/Age :

08.04.1960

Date of Appointment :

17.12.2013

DIN No.:

00056795

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	U01132HR1996PLC033106	MARVEL TEA ESTATE (INDIA) LIMITED	Managing director	17/12/2013	14/05/1996	-	Active	NO
2	U24119HR2003PLC035265	MARVEL GLOBAL LIMITED	Director	30/01/2004	30/01/2004	-	Active	NO
3	U72900HR2000PTC034435	SHIVA INFOSYSTEMS PRIVATE LIMITED	Director	23/02/2005	23/02/2005	30/10/2013	Active	NO
4	U74899DL1984PTC019312	MARWAHA PLASTICS PRIVATE LIMITED	Director	22/03/2005	22/03/2005	-	Active	NO
5	U51909DL2005PTC135821	LAPIS INFOTECH PRIVATE LIMITED	Director	04/05/2005	04/05/2005	-	Active	NO
6	U70101HR2005PTC046763	MARYADA ESTATES PRIVATE LIMITED	Director	13/05/2005	13/05/2005	-	Active	NO
7	U45200HR2007PTC036527	MARVEL BUILDWELL PRIVATE LIMITED	Director	10/01/2007	10/01/2007	-	Active	NO
8	U80301HR2007PTC037117	MARVEL INSTITUTE OF TECHNOLOGY PRIVATE LIMITED	Director	14/08/2007	14/08/2007	03/11/2011	Active	NO
9	U51394HR1997PTC033651	HISSAR CLOCK PRIVATE LIMITED	Director	23/04/2013	14/08/2007	-	Active	NO
10	U74899DL1992PTC048260	POORVA TRADING PRIVATE LIMITED	Director	07/04/2008	07/04/2008	-	Active	NO
11	U74899DL1994PTC059581	PALOMA FINANCIAL SERVICES PRIVATE LIMITED	Director	01/12/2008	01/12/2008	28/03/2012	Active	NO
12	U01403HR2009PLC039533	MORIA TEA ESTATE LIMITED	Director	24/09/2009	24/09/2009	-	Active	NO
13	U01132HR2009PLC039579	MARVEL TEA EXPORT LIMITED	Director	09/10/2009	09/10/2009	-	Active	NO
14	U74999DL2007PTC162870	EVERGREEN EXPOIMPO PRIVATE LIMITED	Director	27/01/2010	27/01/2010	18/08/2011	Active	NO
15	U72300DL2007PTC161879	ALLURE TECHNOLOGY PRIVATE LIMITED	Additional director	22/05/2010	22/05/2010	29/03/2013	Active	NO
16	U70100DL2010PTC211888	KALVIN REALTECH PRIVATE LIMITED	Director	29/12/2010	29/12/2010	16/03/2012	Active	NO
17	U70100HR2010PTC041777	MARVEL REALTECH PRIVATE LIMITED	Director	31/12/2010	31/12/2010	-	Active	NO
18	U74999HR2011PLC041794	DUNAR TEA ESTATE LIMITED	Director	03/01/2011	03/01/2011	03/01/2013	Active	NO
19	U72300DL2007PTC169455	VSM Infosystems Private Limited	Director	04/01/2011	04/01/2011	-	Active	NO
20	U63040HR2011PLC041798	MARVEL TRIP LIMITED	Director	04/01/2011	04/01/2011	-	Active	NO
21	U74120DL1994PLC063015	MARVEL TEA INDUSTRIES LIMITED	Director	29/08/2012	29/08/2012	-	Active	NO
22	U74900HR2012PLC047770	MARVEL LIMITED.	Director	27/11/2012	27/11/2012	-	Active	NO

Name :

Mr. Sanjay Jain

Designation :

Director

Address :

14.08.1969

Date of Birth/Age :

Marvel House, VPO Uklana, Hisar – 125113, Hayrana, India

Date of Appointment :

01.03.1999

DIN No.:

00056880

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	U01132HR1996PLC033106	MARVEL TEA ESTATE (INDIA) LIMITED	Director	01/03/1999	01/03/1999	-	Active	NO
2	U24119HR2003PLC035265	MARVEL GLOBAL LIMITED	Director	25/06/2004	25/06/2004	-	Active	NO
3	U74899DL1984PTC019312	MARWAHA PLASTICS PRIVATE LIMITED	Director	22/03/2005	22/03/2005	-	Active	NO
4	U45200HR2007PTC036527	MARVEL BUILDWELL PRIVATE LIMITED	Director	10/01/2007	10/01/2007	04/11/2011	Active	NO
5	U70109DL2006PTC151166	JAIPURIA PROPCON PRIVATE LIMAITED.	Director	26/09/2009	26/09/2009	27/09/2009	Active	NO
6	U72300DL2007PTC169455	VSM Infosystems Private Limited	Director	04/01/2011	04/01/2011	-	Active	NO
7	U70109HR2011PTC042311	YUGA ESTATE PRIVATE LIMITED	Director	07/03/2011	07/03/2011	-	Active	NO
8	U80301HR2007PTC037117	MARVEL INSTITUTE OF TECHNOLOGY PRIVATE LIMITED	Director	15/06/2011	15/06/2011	-	Active	NO
9	U70102DL1996PTC075331	CFG INTERNATIONAL PRIVATE LIMITED	Additional director	13/10/2012	13/10/2012	05/04/2013	Active	NO
10	U74900HR2012PLC047770	MARVEL LIMITED.	Director	27/11/2012	27/11/2012	-	Active	NO
11	U45200HR2013PTC048619	MODERNERA ESTATES PRIVATE LIMITED	Director	22/03/2013	22/03/2013	-	Active	NO
12	U70109DL2012PTC244532	GNex INFRABUILD PRIVATE LIMITED	Additional director	04/04/2013	04/04/2013	-	Active	NO
13	U45400DL2011PTC227066	VIVEK INFRACON PRIVATE LIMITED	Additional director	04/04/2013	04/04/2013	-	Active	NO
14	U45201DL2005PTC134039	NEW WAYS BUILDWELL PRIVATE LIMITED	Director	05/04/2013	05/04/2013	-	Active	NO
15	U72900HR2000PTC034435	SHIVA INFOSYSTEMS PRIVATE LIMITED	Director	16/09/2013	16/09/2013	-	Active	NO

Name :

Mr. Parveen Jain

Designation :

Director

Address :

Marvel House, VPO Uklana, Hisar – 125113, Hayrana, India

Date of Birth/Age :

14.08.1969

Date of Appointment :

14.05.1996

DIN No.:

00056841

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	U01132HR1996PLC033106	MARVEL TEA ESTATE (INDIA) LIMITED	Director	14/05/1996	14/05/1996	-	Active	NO
2	U72900HR2000PTC034435	SHIVA INFOSYSTEMS PRIVATE LIMITED	Director	23/02/2005	23/02/2005	30/10/2013	Active	NO
3	U45200HR2007PTC036527	MARVEL BUILDWELL PRIVATE LIMITED	Director	10/01/2007	10/01/2007	-	Active	NO
4	U01403HR2009PLC039533	MORIA TEA ESTATE LIMITED	Director	24/09/2009	24/09/2009	-	Active	NO
5	U74999HR2011PLC041794	DUNAR TEA ESTATE LIMITED	Director	03/01/2011	03/01/2011	03/01/2013	Active	NO
6	U72300DL2007PTC169455	VSM Infosystems Private Limited	Director	04/01/2011	04/01/2011	-	Active	NO
7	U70101HR2005PTC046763	MARYADA ESTATES PRIVATE LIMITED	Director	06/06/2011	06/06/2011	-	Active	NO
8	U74900HR2012PLC047770	MARVEL LIMITED.	Director	27/11/2012	27/11/2012	-	Active	NO

Name :

Mr. Mahesh Bansilal Laddha

Designation :

Whole Time director

Address :

Marvel House, VPO Uklana, Hisar – 125113, Hayrana, India

Date of Birth/Age :

19.11.1986

Date of Appointment :

25.09.2006

DIN No.:

00056761

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	U72900HR2000PTC034435	SHIVA INFOSYSTEMS PRIVATE LIMITED	Director	23/02/2005	23/02/2005	30/10/2013	Active	NO
2	U74899DL1994PTC059581	PALOMA FINANCIAL SERVICES PRIVATE LIMITED	Director	28/02/2005	28/02/2005	28/03/2012	Active	NO
3	U51909DL2005PTC135821	LAPIS INFOTECH PRIVATE LIMITED	Director	04/05/2005	04/05/2005	-	Active	NO
4	U01132HR1996PLC033106	MARVEL TEA ESTATE (INDIA) LIMITED	Director	25/09/2006	01/04/2006	-	Active	NO
5	U45200HR2007PTC036527	MARVEL BUILDWELL PRIVATE LIMITED	Director	10/01/2007	10/01/2007	-	Active	NO
6	U80301HR2007PTC037117	MARVEL INSTITUTE OF TECHNOLOGY PRIVATE LIMITED	Director	14/08/2007	14/08/2007	03/11/2011	Active	NO
7	U01403HR2009PLC039533	MORIA TEA ESTATE LIMITED	Director	24/09/2009	24/09/2009	-	Active	NO
8	U70109DL2006PTC151166	JAIPURIA PROPCON PRIVATE LIMAITED.	Director	26/09/2009	26/09/2009	27/09/2009	Active	NO
9	U01132HR2009PLC039579	MARVEL TEA EXPORT LIMITED	Director	09/10/2009	09/10/2009	-	Active	NO
10	U70100DL2010PTC211888	KALVIN REALTECH PRIVATE LIMITED	Director	29/12/2010	29/12/2010	16/03/2012	Active	NO
11	U72300DL2007PTC169455	VSM Infosystems Private Limited	Director	04/01/2011	04/01/2011	-	Active	NO
12	U63040HR2011PLC041798	MARVEL TRIP LIMITED	Director	04/01/2011	04/01/2011	-	Active	NO
13	U70101HR2005PTC046763	MARYADA ESTATES PRIVATE LIMITED	Director	06/06/2011	06/06/2011	-	Active	NO
14	U74120DL1994PLC063015	MARVEL TEA INDUSTRIES LIMITED	Director	29/08/2012	29/08/2012	-	Active	NO
15	U74900HR2012PLC047770	MARVEL LIMITED	Director	27/11/2012	27/11/2012	-	Active	NO

KEY EXECUTIVES

Name :	Pawan G. Chandak and Associates
Designation :	Company Secretaries
Address :	Office No. 203, Mangalmurti Complex, 990, Shukrawar Peth, Tilak Road, Next to Pandit Automotive, Pune-411002, Maharashtra, India
Tel No.:	91- 20- 24463487
Fax No.:	91- 20- 24463486
Email ID :	pawang@chandakcs.com kuldeep@chandakcs.com
Website :	www.chandakcs.com
Name :	Mr. Shansher Singla
Designation :	Accounts Manager

MAJOR SHAREHOLDERS

As on 27.09.2013

Names of Shareholders	No. of Shares
Raghuvir Jain S/o Sh. Nem Chand Jain	471400
Parveen Jain S/o Sh. Nem Chand Jain	469000
Sanjay Jain S/o Sh. Nem Chand Jain	523800
Nitin Jain S/o Sh. Raghuvir Jain	307600
Anil Kumar S/o Sh. Maman Chand	53000
Mukesh Kumar S/o Sh. Maman Chand	24500
Smt. Sunita Devi W/o Mukesh Garg	268500
Smt. Raj Bala W/o Sh. Anil Kumar	271000
Smt. Darshana Devi W/o Sh. Maman Chand	147500
Smt. Asha Jain W/o Sh. Parveen Jain	27500
Smt. Kiran Jain W/o Sh. Raghuvir Jain	23000
Smt. Saroj Jain W/o Sh. Sanjay Jain	52500
Parveen Jain and Sons HUF	601655
Raghuvir Jain and Sons HUF	238500
Sanjay Jain and Sons HUF	585772
Nem Chand Jain and Sons HUF	83000
Smt. Veena Jain W/o Sh. Vinod Kumar	246000
Smt. Raj Rani W/o Vinod Kumar	13000
Paloma Financial Services Private Limited, India	750000
Marwaha Plastics Private Limited, India	428000
Total	5585227

Equity Share Break up (Percentage of Total Equity)

As on 27.09.2013

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Blending and packaging of tea.
Brand Names :	“Marvel”
Exports :
Products :	Tea
Countries :	UAE

GENERAL INFORMATION

No. of Employees :	60 (Approximately)
Bankers :	Punjab National Bank, Uklana, Hisar - 125113, Haryana, India

Banking Relations :	--
Auditors :
Name :	Ram Niwas Associates Chartered Accountants
Address :	Astha Kunj 692,Sector-14 Sirsa Road, Hisar – 125001, Haryana, India
PAN No.:	AAKFR8766J

CAPITAL STRUCTURE

As on 27.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
6000000	Equity Shares	Rs.10/- each	Rs.60.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5585227	Equity Shares	Rs.10/- each	Rs.55.852 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	55.852	55.852	47.226
(b) Reserves & Surplus	238.254	215.402	156.972
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	10.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	304.106	271.254	204.198
(3) Non-Current Liabilities
(a) long-term borrowings	107.058	76.562	20.995
(b) Deferred tax liabilities (Net)	1.519	0.661	1.191
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	108.577	77.223	22.186
(4) Current Liabilities
(a) Short term borrowings	496.972	363.246	393.247
(b) Trade payables	89.579	76.907	85.965
(c) Other current liabilities	34.453	24.687	35.326
(d) Short-term provisions	0.747	1.115	0.080
Total Current Liabilities (4)	621.751	465.955	514.618
TOTAL	1034.434	814.432	741.002
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	188.694	128.548	95.663
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	27.553	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	1.500	1.500	1.500
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	4.438	2.721	3.983
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	194.632	160.322	101.146
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	361.384	157.702	114.779
(c) Trade receivables	416.236	419.114	378.439
(d) Cash and cash equivalents	28.166	9.165	26.272
(e) Short-term loans and advances	34.016	68.129	120.341
(f) Other current assets	0.000	0.000	0.025
Total Current Assets	839.802	654.110	639.856
TOTAL	1034.434	814.432	741.002

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	1,843.434	1,746.710	1,458.884
		Other Income	2.196	7.153	8.261
		TOTAL (A)	1,845.630	1,753.863	1,467.145
Less	EXPENSES
		Purchase of Stock-in-trade	1,668.918	1,448.190	1,183.312
		Changes in Inventories of finished goods, work-in-progress and stock-in-trade	(203.681)	(42.924)	16.900
		Employee Benefits Expenses	61.508	55.338	30.544
		Other Expenses	218.824	193.060	161.659
		TOTAL (B)	1,745.569	1,653.664	1,392.415
Less	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		100.061	100.199	74.730
Less	FINANCIAL EXPENSES (D)		42.997	48.374	35.923
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		57.064	51.825	38.807
Less	DEPRECIATION/ AMORTISATION (F)		19.610	16.255	13.721
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)		37.454	35.570	25.086
Less	TAX (H)		13.627	11.645	8.782
	PROFIT/(LOSS) AFTER TAX (G-H) (I)		23.827	23.925	16.304
	Earnings Per Share (Rs.)		4.27	4.28	3.45

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	1.29	1.36	1.11
Net Profit Margin (PBT/Sales)	(%)	2.03	2.04	1.72
Return on Total Assets (PBT/Total Assets}	(%)	3.63	4.53	3.39
Return on Investment (ROI) (PBT/Networth)		0.12	0.13	0.12
Debt Equity Ratio (Total Debt /Networth)		1.99	1.62	2.03
Current Ratio (Current Asset/Current Liability)		1.35	1.40	1.24

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	47.226	55.852	55.852
Reserves & Surplus	156.972	215.402	238.254
Net worth	204.198	271.254	294.106
long-term borrowings	20.995	76.562	107.058
Short term borrowings	393.247	363.246	496.972
Total borrowings	414.242	439.808	604.030
Debt/Equity ratio	2.029	1.621	2.054

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	1,458.884	1,746.710	1,843.434
		19.729	5.537

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	1,458.884	1,746.710	1,843.434
Profit	16.304	23.925	23.827
	1.12%	1.37%	1.29%

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	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
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 CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10463398	15/11/2013	50,000,000.00	Punjab National Bank	Uklana, Hisar, Haryana - 125113, India	B90804972
2	10421512	26/03/2013	20,000,000.00	Punjab National Bank	Uklana, Hisar, Haryana - 125113, India	B73688897
3	10378329	28/08/2012	50,000,000.00	Punjab National Bank	Uklana, Hisar, Haryana - 125113, India	B58851411
4	10326023	30/11/2011	47,500,000.00	First Blue Home Finance Limited	12C - 12D, 2nd Floor, Vasant Square Mall, Plot - A, Sector B, Pocket - V, Vasant Kunj, New Delhi, Delhi - 110070, India	B28927838
5	10235375	02/08/2010	50,000,000.00	Punjab National Bank	Uklana, Uklana, Hisar, Haryana - 125113, India	A91947481
6	10215256	27/03/2010	100,000,000.00	Punjab National Bank	Uklana, Uklana, Hisar, Haryana - 125113, India	A83731133
7	10177724	23/09/2009	100,000,000.00	Punjab National Bank	Credit Department, Circle Office, Hisar, Haryana - 125001, India	A70646112
8	10128446	17/10/2008	50,000,000.00	Punjab National Bank	Uklana, Hisar, Haryana - 125113, India	A50070200
9	10154059	23/08/2008	95,000,000.00	Punjab National Bank	Uklana, Hisar, Haryana - 125113, India	A53303970
10	10027891	14/11/2005	15,000,000.00	Punjab National Bank	Uklana, Hisar, Haryana - 125113, India	A07326903
11	90034522	14/02/1998	700,000.00	Punjab National Bank	Uklana, Hisar, Haryana - 125113, India	-
12	90033799	21/01/2014 *	450,000,000.00	Punjab National Bank	Uklana, Hisar, Haryana - 125113, India	B96604053

*Date of modification Charges

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

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.61.94
UK Pound	1	Rs.103.31
Euro	1	Rs.85.11

INFORMATION DETAILS

Information Gathered by :	HNA
Report Prepared by :	VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	7
--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	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		50

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.