MIRA INFORM REPORT

Report Date :

22.01.2014

IDENTIFICATION DETAILS

Name :	FINOLEX PLASSON INDUSTRIES PRIVATE LIMITED [w.e.f.16.06.2011]
Formerly Known As :	FINOLEX PLASSON INDUSTRIES LIMITED [w.e.f.24.12.2008] PLASTRO PLASSON INDUSTRIES (INDIA) LIMITED PLASTRO IRRIGATION SYSTEMS (NDIA) LIMITED
Registered Office :	Block D1, Plot No. 10, MIDC, Chinchwad, Pune – 410506, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	27.07.1992
Com. Reg. No.:	11-067896
Capital Investment / Paid-up Capital :	Rs. 100.000 Millions
CIN No.: [Company Identification No.]	U41000MH1992PTC067896
TAN No.: [Tax Deduction & Collection Account No.]	PNEF00451D
PAN No.: [Permanent Account No.]	AABCP1939K
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Seller of Equipment used for Drip Irrigation.
No. of Employees :	Not Available

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 2900000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a well-established company having satisfactory track record. The company is doing well. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitment. 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 – September 30, 2013

Country Name	Previous Rating (30.06.2013)	Current Rating (30.09.2013)
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

India’s current account deficit narrowed in the quarter ended September as government measures to curb imports, especially gold, kicked in.  The current account deficit, the excess of a country’s imports of goods and services over exports, narrowed to $ 5.2 billion from $ 21 billion in the year ago period, according to provisional Reserve Bank of India data. Finance Minister P. Chidambaram said the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and the latest data suggests the government may achieve the target.

India was ranked 94^th among the world’s most corrupt nations list. Denmark and New Zealand topped as the cleanest while Somalia emerged as the most corrupt.

India’s services sector activity witnessed a moderate improvement in November over the previous month, even while indicating the fifth successive monthly contraction, according the HSBC survey.

$53 million estimated losses suffered by India due to phishing attacks during the third quarter, according to a study by RSA. India ranks fourth in the list of nations hit by phishing attacks. The US remained at the top of the charts. Phishing is the process of acquiring information such as user names, passwords and credit card details by sending e-mails disguised as official mails.

Rs.4080 million worth of mobile-phone-based transactions by July 2013 compared to Rs.260 million in September, 2012, according to Deloitte report. The number of transactions has shot up from 94000 to 701000.

India aims to earn Rs.400000 million from the bandwidth auction set for January. The merger and acquisition guidelines, cleared by a group of ministers, will be out before the auction begins so that players can make informed decisions on the auctions.

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long term rating : BBB+
Rating Explanation	Have moderate degree of safety and carry moderate credit risk.
Date	September 12, 2013

Rating Agency Name	CRISIL
Rating	Short term rating : A2
Rating Explanation	Have strong degree of safety and carry low credit risk.
Date	September 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.

LOCATIONS

Registered Office :	Block D1, Plot No. 10, MIDC, Chinchwad, Pune – 410506, Maharashtra, India
Tel. No.:	91-20-27408300
Fax No.:	91-20-22933121
E-Mail :	mukesh.bhasale@fpil.in satish.ketkar@fpil.in
Website :	http://www.fpil.in http://www.finolex.com
Corporate Office :	4^th Floor, P – 14, Rajiv Gandhi Infotech Park, Phase – I, MIDC, Hinjewadi, Pune – 411057, Maharashtra, India
Tel. No.:	91-20-27518300
Fax No.:	91-20-22932294
Factory :	Plot No.399, Urse, Taluka Maval, District Pune – 410506, Maharashtra, India
Tel. No.:	91-2114-237045/ 6/ 7/ 8
Fax No.:	91-2114-237044
Email :	finolexplasson@fpil.in
Branch Offices :	Located at : · Bangalore Baroda Coimbatore Secunderabad

DIRECTORS

AS ON 27.09.2013

Name :

Mr. Vijay Kishan Chhabria

Designation :

Managing director

Address :

472A, Model Colony, Harekrishna Mandir Road, Pune – 411016, Maharashtra, India

Date of Birth/Age :

23.02.1961

Date of Appointment :

13.03.2010

PAN No.:

AAMPC9925C

DIN No.:

01403853

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	L31300MH1967PLC016531	FINOLEX CABLES LIMITED	Whole-time director	01/07/2008	25/02/1993	31/03/2010	Active	NO
2	U41000MH1992PTC067896	FINOLEX PLASSON INDUSTRIES PRIVATE LIMITED	Managing director	13/03/2010	13/03/2010	-	Active	NO
3	U01122RJ2007PLC024246	RAJASTHAN OLIVE CULTIVATION LIMITED	Director	07/12/2011	09/06/2011	-	Active	NO

Name :

Mr. Kishan Parsram Chhabria

Designation :

Director

Address :

472A, Model Colony, Harekrishna Mandir Road, Pune – 411016, Maharashtra, India

Date of Birth/Age :

20.12.1933

Date of Appointment :

30.09.2010

PAN No.:

AAMPC9921G

DIN No.:

00016995

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	L40108PN1981PLC024153	FINOLEX INDUSTRIES LIMITED	Whole-time director	01/08/2008	28/03/1981	11/08/2012	Active	NO
2	U01134PN2006PTC128847	PRABODHAN FARMS PRIVATE LIMITED	Director	29/09/2007	08/08/2006	-	Amalgamated	NO
3	U01134PN2006PTC128846	INDRANEEL AGRO PRIVATE LIMITED	Director	29/09/2007	08/08/2006	-	Amalgamated	NO
4	U01134PN2006PTC128838	SUTEJ AGRO FARMS PRIVATE LIMITED	Director	29/09/2007	08/08/2006	-	Amalgamated	NO
5	U01119PN2006PTC128882	AJINKYA AGRI FARMS PRIVATE LIMITED	Director	29/09/2007	14/03/2007	-	Amalgamated	NO
6	U01119PN2006PTC128881	INDRAJEET AGRO PRIVATE LIMITED	Director	29/09/2007	14/03/2007	-	Amalgamated	NO
7	U01119PN2006PTC128880	AVNISH AGRI FARMS PRIVATE LIMITED	Director	29/09/2007	14/03/2007	-	Amalgamated	NO
8	U01409PN2007PTC130025	GAURI AGRO PRIVATE LIMITED	Director	23/04/2007	23/04/2007	-	Amalgamated	NO
9	U01130PN2007PTC130026	VED AGRI FARMS PRIVATE LIMITED	Director	23/04/2007	23/04/2007	-	Amalgamated	NO
10	U01130PN2007PTC130071	ANTARA AGRO PRIVATE LIMITED	Director	30/04/2007	30/04/2007	-	Amalgamated	NO
11	U45203PN2007PLC129575	FINOLEX INFRASTRUCTURE LIMITED	Director	29/09/2008	29/09/2007	-	Active	NO
12	U01122PN2007PTC131206	SANJAY AGRI FARMS PRIVATE LIMITED	Director	31/12/2007	31/12/2007	-	Amalgamated	NO
13	U01122PN2007PTC131205	KETAN AGRI FARMS PRIVATE LIMITED	Director	31/12/2007	31/12/2007	-	Amalgamated	NO
14	U01122PN2007PTC131204	OMKAR AGRI FARMS PRIVATE LIMITED	Director	31/12/2007	31/12/2007	-	Amalgamated	NO
15	U01111PN2008PTC131936	HARKRISHAN AGRI FARMS PRIVATE LIMITED	Director	05/05/2008	05/05/2008	-	Active	NO
16	U01111PN2008PTC131934	AMARDAS AGRI FARMS PRIVATE LIMITED	Director	05/05/2008	05/05/2008	-	Amalgamated	NO
17	U01122PN2008PTC131933	HARGOBIND AGRI FARMS PRIVATE LIMITED	Director	05/05/2008	05/05/2008	-	Amalgamated	NO
18	U01200PN2008PTC132608	ATHARVA AGRI FARMS PRIVATE LIMITED	Director	12/08/2008	12/08/2008	-	Active	NO
19	U01200PN2008PTC132607	INDRAYANI AGRI FARMS PRIVATE LIMITED	Director	12/08/2008	12/08/2008	-	Amalgamated	NO
20	U01200PN2008PTC132606	PRATHAMESH AGRI FARMS PRIVATE LIMITED	Director	12/08/2008	12/08/2008	-	Active	NO
21	U01120PN2009PTC134534	BELA AGRI FARMS PRIVATE LIMITED	Director	20/08/2009	20/08/2009	-	Active	NO
22	U01200PN2009PTC134533	ORCHID AGRI FARMS PRIVATE LIMITED	Director	20/08/2009	20/08/2009	-	Active	NO
23	U01120PN2009PTC134532	SAFFRON AGRI FARMS PRIVATE LIMITED	Director	20/08/2009	20/08/2009	-	Active	NO
24	U41000MH1992PTC067896	FINOLEX PLASSON INDUSTRIES PRIVATE LIMITED	Director	30/09/2010	13/03/2010	-	Active	NO

Name :

Mr. Mahesh Sivamoni Moorthy

Designation :

Director

Address :

B302, Pinnacle The Woods, Wakad, Kalewadi, Pune -411027, Maharashtra, India

Date of Birth/Age :

31.12.1966

Date of Appointment :

01.01.2014

DIN No.:

06784399

Name :

Mr. Sanjay Khatau Asher

Designation :

Director

Address :

32, Modi Street, Fort, Mumbai – 400001, Maharashtra, India

Date of Birth/Age :

26.11.1964

Date of Appointment :

20.09.2003

DIN No.:

00008221

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	U15141MP1992PLC007176	DEWAS SOYA LIMITED	Director	12/09/2011	29/07/1994	19/03/2012	Active	NO
2	U65920MH1994PTC080585	SEENOL FINANCE AND INVESTMENTS PRIVATE LIMITED	Director	27/01/1995	27/01/1995	18/03/2010	Active	NO
3	U24231MH1979PTC020957	FINOLIB CHEMICALS PRIVATE LIMITED	Director	30/09/1995	30/09/1995	-	Amalgamated	NO
4	L31300MH1967PLC016531	FINOLEX CABLES LIMITED	Director	01/07/1998	01/07/1998	-	Active	NO
5	U63000MH1998PTC117292	ALLIED PICKFORDS INDIA PRIVATE LIMITED	Director	01/12/1998	01/12/1998	-	Active	NO
6	U65993MH1980PTC022723	MAJESTY INVESTMENTS PRIVATE LIMITED	Director	18/03/1999	18/03/1999	-	Amalgamated	NO
7	U74999MH1971PTC015021	ORBIT ELECTRICALS PRIVATE LIMITED	Director	18/03/1999	18/03/1999	-	Active	NO
8	U26954MH1969PTC014245	SIPOREX INDIA PRIVATE LIMITED	Director	29/04/1999	29/04/1999	-	Active	NO
9	U63000MH1999PTC121101	AL MOVERS PRIVATE LIMITED	Director	02/08/1999	02/08/1999	-	Active	NO
10	L01542KA1995PLC019046	SHREE RENUKA SUGARS LIMITED	Director	05/08/1999	05/08/1999	-	Active	NO
11	U27108TN1999PTC069389	MIGATRONIC INDIA PRIVATE LIMITED	Director	07/09/1999	07/09/1999	29/06/2009	Active	NO
12	U51900MH1999PTC122481	DIAMANT BOART MARKETING PRIVATE LIMITED	Director	01/11/1999	01/11/1999	-	Active	NO
13	L22200MH1993PLC071431	REPRO INDIA LIMITED	Director	02/05/2000	02/05/2000	-	Active	NO
14	U92132MH1995PLC085835	INDUSIND MEDIA AND COMMUNICATION LIMITED	Director	29/06/2000	29/06/2000	31/12/2006	Active	NO
15	U33111MH2000FTC129835	TEVAPHARM INDIA PRIVATE LIMITED	Director	01/12/2000	01/12/2000	08/09/2011	Active	NO
16	U85199MH2002PTC135700	ARJOHUNTLEIGH HEALTHCARE INDIA PRIVATE LIMITED	Director	30/04/2002	30/04/2002	-	Active	NO
17	U66010PN2000PLC015329	BAJAJ ALLIANZ GENERAL INSURANCE COMPANY LIMITED	Director	06/06/2002	06/06/2002	-	Active	NO
18	U66010PN2001PLC015959	BAJAJ ALLIANZ LIFE INSURANCE COMPANY LIMITED	Director	06/06/2002	06/06/2002	-	Active	NO
19	U24230MH2002PTC136896	MEPHA PHARMA INDIA PRIVATE LIMITED	Director	20/08/2002	20/08/2002	-	Strike off	NO
20	U65990MH1993FTC074460	MORGAN STANLEY INVESTMENT MANAGEMENT PRIVATE LIMITED	Director	09/04/2003	09/04/2003	-	Active	NO
21	U41000MH1992PTC067896	FINOLEX PLASSON INDUSTRIES PRIVATE LIMITED	Director	20/09/2003	20/09/2003	-	Active	NO
22	U29260MH2002PTC137202	ZINSER TEXTILE SYSTEMS PRIVATE LIMITED	Director	27/09/2003	27/09/2003	03/07/2013	Active	NO
23	U74140MH2004PTC144831	A L MANAGEMENT PRIVATE LIMITED	Director	03/03/2004	03/03/2004	-	Active	NO
24	L29199GJ1981PLC028741	INTEGRA ENGINEERING INDIA LIMITED	Director	11/03/2004	11/03/2004	18/02/2011	Active	NO
25	U92419MH2000PTC129811	CRICINFO ONLINE INDIA PRIVATE LIMITED	Director	16/04/2004	16/04/2004	30/08/2012	Active	NO
26	U72900MH2001PTC131322	CRICINFO DATA SERVICES PRIVATE LIMITED	Director	16/04/2004	16/04/2004	30/08/2012	Active	NO
27	U74140MH2004PTC146033	N V ADVISORY SERVICES PRIVATE LIMITED	Director	30/04/2004	30/04/2004	-	Active	NO
28	L22219DL1955PLC211606	INFOMEDIA PRESS LIMITED	Director	24/05/2004	24/05/2004	21/08/2008	Active	NO
29	U74210MH2003PTC142289	ENGINEERING AND DESIGNS TECNIMONT ICB PRIVATE LIMITED	Director	22/02/2005	22/02/2005	31/03/2008	Amalgamated	NO
30	U29120MH2005PTC152258	SAURER PRECICOMP PRIVATE LIMITED	Director	29/03/2005	29/03/2005	-	Amalgamated	NO
31	U30009MH1991PTC064182	I2IT PRIVATE LIMITED	Director	23/08/2006	28/01/2006	05/02/2011	Active	NO
32	U25209MH1991PLC060602	KRYFS POWER COMPONENTS LIMITED	Director	18/05/2006	18/05/2006	-	Active	NO
33	U64202PN1999PLC013499	DIVINET ACCESS TECHNOLOGIES LIMITED	Additional director	04/08/2006	04/08/2006	05/04/2010	Active	NO
34	U45201PN2006FTC138676	BIOPHARMAX INDIA PRIVATE LIMITED	Director	15/09/2006	15/09/2006	10/03/2008	Active	NO
35	U60231TN2006PTC061597	C.H. ROBINSON WORLDWIDE FREIGHT INDIA PRIVATE LIMITED	Director	27/11/2006	27/11/2006	01/12/2006	Active	NO
36	L99999MH1964PLC012835	ASIAN ELECTRONICS LIMITED	Director	23/12/2006	23/12/2006	05/11/2008	Active	NO
37	U66010MH2007PLC166770	UNIVERSAL SOMPO GENERAL INSURANCE COMPANY LIMITED	Director	05/01/2007	05/01/2007	12/01/2007	Active	NO
38	U72900MH2005PLC157255	SPARSH BPO SERVICES LIMITED	Director	14/09/2007	23/01/2007	07/07/2011	Active	NO
39	U45203PN2007PLC129575	FINOLEX INFRASTRUCTURE LIMITED	Director	07/02/2007	07/02/2007	18/12/2010	Active	NO
40	L17120MH1984PLC033553	MANDHANA INDUSTRIES LIMITED	Director	16/05/2007	16/05/2007	-	Active	NO
41	U29253DL2007PTC161715	INDO-FILL ELASTOMER PRIVATE LIMITED	Director	30/09/2008	16/05/2007	25/09/2013	Active	NO
42	L36759MH1985PLC036759	SHARP INDIA LIMITED	Director	29/08/2008	23/07/2007	-	Active	NO
43	U29269MH2007PTC174534	ALLMA MACHINES PRIVATE LIMITED	Director	26/09/2007	26/09/2007	-	Strike off	NO
44	U29261MH2007PTC174544	VOLKMANN MACHINES PRIVATE LIMITED	Director	27/09/2007	27/09/2007	-	Strike off	NO
45	U29261MH2007PTC174543	OERLIKON TEXTILE COMPONENTS INDIA PRIVATE LIMITED	Director	27/09/2007	27/09/2007	-	Amalgamated	NO
46	U29261MH2007PTC174542	NEUMAG MACHINES PRIVATE LIMITED	Director	27/09/2007	27/09/2007	-	Strike off	NO
47	U74140PN2007PTC131026	VALUEQB CONSULTING PRIVATE LIMITED	Director	22/11/2008	14/12/2007	-	Active	NO
48	U29253MH2007PTC176977	BARMAG MACHINES PRIVATE LIMITED	Director	19/12/2007	19/12/2007	-	Strike off	NO
49	U29259GJ1962PTC001177	PEASS INDUSTRIAL ENGINEERS PRIVATE LIMITED	Director	27/08/2008	29/01/2008	03/07/2013	Active	NO
50	U25200MH2006PTC161549	NARENDRA PLASTIC PRIVATE LIMITED (PART IX)	Nominee director	23/04/2013	31/01/2008	-	Active	NO
51	U22219MH2008PTC181740	HH PRINT MANAGEMENT INDIA PRIVATE LIMITED	Director	29/04/2008	29/04/2008	24/05/2012	Active	NO
52	U74140MH2008PTC183020	WACHOVIA ADVISORY SERVICES PRIVATE LIMITED	Director	02/06/2008	02/06/2008	05/11/2008	Under Process of Striking off	NO
53	U63000MH2008PTC188331	MASTER VOSS INTERNATIONAL PROJECTS PRIVATE LIMITED.	Director	18/09/2009	20/11/2008	-	Active	NO
54	L24119PN1951PLC008409	SUDARSHAN CHEMICAL INDUSTRIES LIMITED	Director	24/01/2009	24/01/2009	-	Active	NO
55	U27109PN1986FTC040525	HOGANAS INDIA PRIVATE LIMITED	Alternate director	07/05/2009	07/05/2009	-	Active	NO
56	U29253MH2010PTC199933	SCHLAFHORST MACHINES PRIVATE LIMITED	Director	10/02/2010	10/02/2010	03/07/2013	Active	NO
57	L99999MH1961PLC012185	BALKRISHNA INDUSTRIES LIMITED	Director	29/05/2010	29/05/2010	-	Active	NO
58	U93000MH2010PTC199627	ENAM INFRASTRUCTURE TRUSTEESHIP SERVICES PRIVATE LIMITED	Director	12/07/2010	12/07/2010	-	Active	NO
59	L27205MH2007PLC172598	TRIBHOVANDAS BHIMJI ZAVERI LIMITED	Director	04/07/2011	14/12/2010	-	Active	NO
60	L34101TN1948PLC000105	ASHOK LEYLAND LIMITED	Director	19/07/2011	21/12/2010	-	Active	NO
61	U55101MH2010PTC209517	INDIAN COOKERY PRIVATE LIMITED	Director	01/03/2011	01/03/2011	-	Active	NO
62	L29150PN1989PLC054143	SANGHVI MOVERS LIMITED	Director	17/09/2012	30/09/2011	-	Active	NO
63	U31900MH1998PTC117068	RAVE TECHNOLOGIES (INDIA) PRIVATE LIMITED	Additional director	20/11/2012	11/11/2011	16/12/2012	Active	NO
64	L29309PN1991PLC063045	INNOVENTIVE INDUSTRIES LIMITED	Director	28/09/2012	16/12/2011	-	Active	NO
65	U74120MH2011PTC225156	LLOYD'S REGISTER CONSULTING - ENERGY PRIVATE LIMITED	Director	20/12/2011	20/12/2011	05/03/2012	Active	NO
66	U74120MH2012PTC225641	WIFAG-POLYTYPE INDIA MARKETING PRIVATE LIMITED	Director	02/01/2012	02/01/2012	14/02/2012	Active	NO
67	L40108PN1981PLC024153	FINOLEX INDUSTRIES LIMITED	Director	11/08/2012	04/02/2012	-	Active	NO
68	U61200MH2010PLC209141	VARUN GLOBAL LIMITED	Director	30/11/2012	22/03/2012	-	Active	NO
69	U61200MH2010PLC208582	VARUN MARITIME LIMITED	Director	30/11/2012	22/03/2012	-	Active	NO
70	U61200MH2010PLC208659	VARUN RESOURCES LIMITED	Director	30/11/2012	22/03/2012	-	Active	NO
71	L24390MH1976PLC019380	J B CHEMICALS AND PHARMACEUTICALS LIMITED	Alternate director	18/04/2012	18/04/2012	-	Active	NO
72	U74930MH2010FTC207485	ARCH PROTECTION CHEMICALS PRIVATE LIMITED	Director	24/09/2012	08/05/2012	-	Active	NO
73	U25203GA2012PTC007223	KINECO KAMAN COMPOSITES- INDIA PRIVATE LIMITED	Director	12/09/2012	12/09/2012	-	Active	NO
74	U24230MH1999PTC117983	LONZA INDIA PRIVATE LIMITED	Director	30/09/2013	05/02/2013	-	Active	NO
75	U55101UP2007PTC033633	GANGETIC HOTELS PRIVATE LIMITED	Alternate director	01/05/2013	01/05/2013	-	Active	NO
76	U74999MH2013PTC243024	TEAM RELOCATIONS INDIA PRIVATE LIMITED	Director	06/05/2013	06/05/2013	-	Active	NO
77	U70100MH2005PTC156875	CLASSIC MALL DEVELOPMENT COMPANY PRIVATE LIMITED	Alternate director	25/11/2013	07/05/2013	-	Active	NO
78	U67120MH1995PLC085664	PALLAZZIO HOTELS & LEISURE LIMITED	Alternate director	25/11/2013	07/05/2013	-	Active	NO
79	U55101MH2007PTC169101	ALLIANCE HOSPITALITY SERVICES PRIVATE LIMITED	Alternate director	25/11/2013	07/05/2013	-	Active	NO
80	U45201MH2006PTC165253	VAMONA DEVELOPERS PRIVATE LIMITED	Alternate director	25/11/2013	07/05/2013	-	Active	NO
81	U55200MH2000PTC124192	OFFBEAT DEVELOPERS PRIVATE LIMITED	Alternate director	25/11/2013	29/05/2013	-	Active	NO
82	U45400MH2007PTC170981	SURYA TREASURE ISLAND PRIVATE LIMITED	Alternate director	04/12/2013	21/06/2013	-	Active	NO
83	U74999MH2006PTC162907	JABALPUR TREASURE ISLAND PRIVATE LIMITED	Alternate director	04/12/2013	21/06/2013	-	Active	NO
84	U70101MH2006PTC182012	INDORE TREASURE MARKET CITY PRIVATE LIMITED	Alternate director	04/12/2013	21/06/2013	-	Active	NO
85	U70100MH2006PTC184784	TURNING POINT ESTATES PRIVATE LIMITED	Alternate director	04/12/2013	21/06/2013	-	Active	NO
86	U74999MH2006PTC163118	RAIPUR TREASURE ISLAND PRIVATE LIMITED	Alternate director	04/12/2013	21/06/2013	-	Active	NO
87	U45202MH2010PTC202179	LONZA INFRASTRUCTURE PRIVATE LIMITED	Additional director	29/07/2013	29/07/2013	-	Active	NO
88	U45400DL2007PTC164103	AKME RHINE RIVER PROJECTS PRIVATE LIMITED	Alternate director	27/09/2013	27/09/2013	-	Active	NO

Name :

Mr. Prabhakar Dattatraya Karandikar

Designation :

Director

Address :

Flat No. G-15, Athashri IV, S 135/1+3A/1A, Mundhava Road, Hadapsar, Pune – 411028, Maharashtra, India

Date of Birth/Age :

30.12.1949

Date of Appointment :

16.07.2009

DIN No.:

02142050

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	U32202MH2007PLC176153	IL&FS RENEWABLE ENERGY LIMITED	Director	19/06/2008	11/03/2008	Active	NO
2	U67200MH2004PTC145829	CABAL INSURANCE BROKING SERVICES PRIVATE LIMITED	Director	26/08/2008	26/08/2008	Active	NO
3	L40108PN1981PLC024153	FINOLEX INDUSTRIES LIMITED	Director	28/08/2009	27/06/2009	Active	NO
4	U41000MH1992PTC067896	FINOLEX PLASSON INDUSTRIES PRIVATE LIMITED	Director	16/07/2009	16/07/2009	Active	NO
5	U74999PN2002PLC016834	BVG INDIA LIMITED	Director	30/09/2010	27/03/2010	Active	NO
6	L74210TN2000PLC045167	SHRIRAM EPC LIMITED	Director	09/09/2011	29/06/2010	Active	NO
7	U01111DL1969SGC005045	STATE FARMS CORPORATION OF INDIA LIMITED	Director	23/08/2013	23/07/2010	Active	NO
8	L65991MH1994PLC079874	SHRIRAM ASSET MANAGEMENT COMPANY LIMITED	Director	14/08/2012	14/02/2012	Active	NO

Name :

Tova Posner Henkin

Designation :

Director

Address :

Maagan Michael, D.N. Menashe, Israel – 37805

Date of Birth/Age :

19.02.1946

Date of Appointment :

16.09.1998

DIN No.:

00111916

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	U41000MH1992PTC067896	FINOLEX PLASSON INDUSTRIES PRIVATE LIMITED	Director	16/09/1998	16/09/1998	Active	NO
2	U01210MH1999PTC119449	DHUMAL PLASSON EQUIPMENTS INDIA PRIVATE LIMITED	Nominee director	16/04/1999	16/04/1999	Active	NO

Name :

Tsvi Tsur

Designation :

Director

Address :

Kibbutz Gvat, Israel – 30050

Date of Birth/Age :

01.08.1951

Date of Appointment :

23.02.1993

DIN No.:

01977652

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	U41000MH1992PTC067896	FINOLEX PLASSON INDUSTRIES PRIVATE LIMITED	Director	23/02/1993	23/02/1993	Active	NO
2	U01122RJ2007PLC024246	RAJASTHAN OLIVE CULTIVATION LIMITED	Director	25/05/2007	18/05/2007	Active	NO
3	U74140PN2009PTC134366	VENDIA MANAGEMENT SERVICES PRIVATE LIMITED	Director	23/07/2009	23/07/2009	Active	NO

Name :

Mr. Mukesh Dolumal Katara

Designation :

Director

Address :

Apurva Complex, Pune University Road, Near Sindh Housing Society, Aundh, Pune – 411007, Maharashtra, India

Date of Birth/Age :

10.07.1957

Date of Appointment :

27.07.1992

DIN No.:

00286037

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	U41000MH1992PTC067896	FINOLEX PLASSON INDUSTRIES PRIVATE LIMITED	Director	27/07/1992	27/07/1992	Active	NO
2	U31112MH1993PTC073139	KATARA DENTAL PRIVATE LIMITED	Managing director	26/07/1993	26/07/1993	Active	NO

Name :

Gal Wexsler

Designation :

Director

Address :

Maagan Michael, D.N. Menashe, Israel – 37805

Date of Birth/Age :

08.09.1963

Date of Appointment :

03.12.2008

DIN No.:

03364449

KEY EXECUTIVES

Name :	Mr. Satish Janardan Ketkar
Designation :	Secretary
Address :	Flat No. 10, Aditya Garden City, ‘Emerald’ Building, (3), Warje, Pune – 411058, Maharashtra, India
Date of Birth/Age :	23.06.1957
Date of Appointment :	19.11.2011
PAN No.:	ABTPK0228N

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 27.09.2013

Names of Shareholders	No. of Shares
P P Chhabria	20
M. D. Katara	20
K. P. Chhabria	20
V.K. Chhabria	20
S.S. Sanzgiri	20020
Orbit Electricals Private Limited, India	979900
Finolex Industries Limited, India	4635000
Finolex Cables Limited, India	1000000
Plaschin Limited, Israel	3365000
Total	10000000

AS ON 27.09.2013

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]	33.65
Bodies corporate	66.15
Other top fifty shareholders	0.20
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Seller of Equipment used for Drip Irrigation.

Products/ Services :

ITC Code No.	Product Descriptions
84249000	Irrigation Laterals

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Bank of Baroda

Pimpri Branch, Pimpri, Pune - 411018, Maharashtra, India

· Saraswat Co-Operative Bank Limited

Pimpri Branch, Pune - 411018, Maharashtra, India

· The Hongkong and Shanghai Banking Corporation Limited

Amar Avinash Corporate City, Sector No. 11, Bund Garden Road, Pune - 411001, 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 [Secured by pari passu charge by way of hypothecation of plant and machinery, movable assets and spares purchased, there under, with additional charge on the existing plant and machinery and spares.]	43.944	44.306
SHORT TERM BORROWINGS
Working capital loans from banks	0.700	12.013
Total	44.644	56.319

Banking Relations :	--
Auditors :
Name :	Deloitte Haskins and Sell Chartered Accountants
Address :	706, B Wing, 7^th Floor, ICC Trade Tower, International Convention Centre, Senapati Bapat Road, Pune 411016, Maharashtra, India
Income-tax PAN of auditor or auditor's firm :	AACFD4815A
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	· Finolex Industries Limited Finolex Cables Limited Finprop Advisory Services Limited [U70101MH1995PTC092879] Plaschin Limited Plasson Limited Motay Limited Kaya Software Private Limited Institute of Information Technology
Joint venture :	Rajasthan Olive Cultivation Limited

CAPITAL STRUCTURE

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
12,750,000	Equity Shares	Rs. 10/- each	Rs. 127.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10,000,000	Equity Shares	Rs. 10/- each	Rs. 100.000 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	100.000	100.000	100.000
(b) Reserves & Surplus	628.345	496.652	372.640
(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)	728.345	596.652	472.640
(3) Non-Current Liabilities
(a) long-term borrowings	46.986	50.157	52.625
(b) Deferred tax liabilities (Net)	0.000	1.416	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	21.494	15.616	18.549
Total Non-current Liabilities (3)	68.480	67.189	71.174
(4) Current Liabilities
(a) Short term borrowings	28.833	43.307	135.132
(b) Trade payables	358.287	330.937	275.516
(c) Other current liabilities	308.891	240.792	230.875
(d) Short-term provisions	35.709	36.041	41.673
Total Current Liabilities (4)	731.720	651.077	683.196
TOTAL	1528.545	1314.918	1227.010
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	355.447	253.423	171.712
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	3.783	43.719	54.931
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	7.525	7.525	7.525
(c) Deferred tax assets (net)	2.588	0.000	4.252
(d) Long-term Loan and Advances	37.241	34.067	11.772
(e) Other Non-current assets	0.000	0.000	10.990
Total Non-Current Assets	406.584	338.734	261.182
(2) Current assets
(a) Current investments	0.365	0.330	0.000
(b) Inventories	322.954	247.450	167.308
(c) Trade receivables	756.881	694.100	678.047
(d) Cash and cash equivalents	18.973	10.683	92.867
(e) Short-term loans and advances	17.902	16.070	27.606
(f) Other current assets	4.886	7.551	0.000
Total Current Assets	1121.961	976.184	965.828
TOTAL	1528.545	1314.918	1227.010

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	2364.380	1775.020	1693.080
		Other Income	1.900	2.620	2.650
		TOTAL (A)	2366.280	1777.640	1695.730
Less	EXPENSES
		TOTAL (B)	2043.630	1486.510	1420.860
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		322.650	291.130	274.870
Less	FINANCIAL EXPENSES (D)		49.860	35.640	27.520
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		272.790	255.490	247.350
Less/ Add	DEPRECIATION/ AMORTISATION (F)		41.620	34.570	17.710
	PROFIT BEFORE TAX (E-F) (G)		231.170	220.920	229.640
Less	TAX (H)		76.200	73.660	73.190
	PROFIT AFTER TAX (G-H) (I)		154.970	147.260	156.450
Less	APPROPRIATIONS
		Transfer to General Reserve	17.500	17.500	17.500
		Proposed Dividend	20.000	20.000	25.000
		Tax on Dividend	3.400	3.240	4.050
	BALANCE CARRIED TO THE B/S		114.070	106.520	109.900
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	3.377	2.350	1.615
	Earnings Per Share (Rs.)		15.50	14.73	15.64

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	6.55	8.28	9.23
Net Profit Margin (PBT/Sales)	(%)	9.78	12.45	13.56
Return on Total Assets (PBT/Total Assets}	(%)	15.26	17.48	19.79
Return on Investment (ROI) (PBT/Networth)		0.32	0.37	0.49
Debt Equity Ratio (Total Debt/Networth)		0.10	0.16	0.40
Current Ratio (Current Asset/Current Liability)		1.53	1.50	1.41

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	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]	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	Yes

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10261877	29/11/2010	150,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI - 400013, MAHARASHTRA, INDIA	B03900537
2	10010943	08/07/2006	15,000,000.00	BANK OF BARODA	PIMPRI CHINCHWAD BRANCH, PIMPRI CHINCHWAD, PUNE - 411018, MAHARASHTRA, INDIA	A02582054
3	90087314	27/07/2009 *	815,200,000.00	BANK OF BARODA	PIMPRI CHINCHWAD BRANCH, PIMPRI CHINCHWAD, PUNE - 411018, MAHARASHTRA, INDIA	A69531887
4	90086865	30/06/2004	20,000,000.00	BANK OF BARODA	PIMPRI CHINCHWAD BRANCH, PIMPRI CHINCHWAD, PUNE - 411018, MAHARASHTRA, INDIA	-
5	90085828	11/07/2001	28,300,000.00	BANK OF BARODA	PIMPRI CHINCHWAD BRANCH, PIMPRI CHINCHWAD, PUNE - 411018, MAHARASHTRA, INDIA	-
6	90085258	14/01/2000	1,500,000.00	CENTRAL BANK OF INDIA	PIMPRI CHINCHWAD BRANCH, PIMPRI CHINCHWAD, PUNE - 411018, MAHARASHTRA, INDIA	-
7	90082461	21/12/2011 *	1,002,800,000.00	BANK OF BARODA	PIMPRI CHINCHWAD BRANCH, PIMPRI CHINCHWAD, PUNE - 411018, MAHARASHTRA, INDIA	B29927183
8	90090065	22/12/1994	8,500,000.00	CENTRAL BANK OF INDIA	PIMPRI CHINCHWAD BRANCH, PIMPRI CHINCHWAD, PUNE - 411018, MAHARASHTRA, INDIA	-
9	90084193	09/11/1994 *	13,300,000.00	BANK OF BARODA	PIMPRI CHINCHWAD BRANCH, PIMPRI CHINCHWAD, PUNE - 411018, MAHARASHTRA, INDIA	-
10	90084177	07/10/1994	8,200,000.00	CENTRAL BANK OF INDIA	PIMPRI CHINCHWAD BRANCH, PIMPRI CHINCHWAD, PUNE - 411018, MAHARASHTRA, INDIA	-
11	90084130	15/06/1994	1,500,000.00	BANK OF BARODA	OLYMPIC HOUSE, BOMBAY PUNE ROAD; PIMPRI-CHINCHWAD, PUNE - 411018, MAHARASHTRA INDIA	-
12	90084102	30/03/1994	3,000,000.00	BANK OF BARODA	OLYMPIC HOUSE, BOMBAY PUNE ROAD; PIMPRI-CHINCHWAD, PUNE - 411018, MAHARASHTRA INDIA	-

* Date of charge modification

UNSECURED LOANS

UNSECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG-TERM BORROWINGS
Other external commercial borrowings	3.042	5.851
SHORT TERM BORROWINGS
Loans repayable on demand	28.133	31.294
Total	31.175	37.145

CURRENT YEAR’S PROSPECTS:

The company expects to benefit from it’s efforts in promoting PCND and sub-surface, as they are gaining recognition and hold promise in the days to come. It has been evident from the sales so far, however, the monsoon predictions are still changing.

The micro irrigation industry as a whole continues to be affected by the delays in the receipt of Government subsidies and increase in input costs. Currently, efforts are being made on the Industry level, to get an increase in the component prices. If successful, it may give some relief to sustain better margins.

FIXED ASSETS:

· Land

Buildings

Factory building

Plant and equipment

Factory equipments

Other plant and equipment

Furniture and fixtures

Vehicles

Motor vehicles

Office equipment

Computer equipments

Other equipments

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. 61.54
UK Pound	1	Rs. 101.08
Euro	1	Rs. 83.38

INFORMATION DETAILS

Report Prepared by :

BVA

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	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--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
DEFAULTERS
--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.