.

MIRA INFORM REPORT

Report Date :

29.01.2014

IDENTIFICATION DETAILS

Name :	NHB BALL AND ROLLER LIMITED
Registered Office :	103, Crystal Towers, 75, Gandivali Gaodhan Road No.3, Off Andheri-Kurla Road, Andheri (East), Mumbai – 400 069, Maharashtra
Country :	India
Financials (as on) :	30.06.2013
Date of Incorporation :	26.10.1994
Com. Reg. No.:	11-082390
Capital Investment / Paid-up Capital :	Rs.117.825 Millions
CIN No.: [Company Identification No.]	U29130MH1994PLC082390
TAN No.: [Tax Deduction & Collection Account No.]	MUMN04533E
PAN No.: [Permanent Account No.]	AAACN1736F
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of precision steel balls made of carbon steel, chrome steel, stainless steel, brass, aluminium and other materials.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

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

Maximum Credit Limit :	USD 1910000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. Financial positions of the company appears to be decent. Trade relations are reported to be fair. Business is active. Payment terms are reported to be usually correct. 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

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 Term Rating = BBB-
Rating Explanation	Have moderate degree of safety and carry moderate credit risk
Date	20.12.2013

Rating Agency Name	CRISIL
Rating	Short Term Rating = A3
Rating Explanation	Have moderate degree of safety and carry higher credit risk
Date	20.12.2013

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/ Head Office :	103, Crystal Towers, 75, Gandivali Gaodhan Road No.3, Off Andheri-Kurla Road, Andheri (East), Mumbai – 400 069, Maharashtra, India
Tel. No.:	91-22-26832498/ 26836783/ 26836784
Fax No.:	91-22-26831765
E-Mail :	vivian@nhbball.com info@nhbball.com nhb@vsnl.com
Website :	http://www.nhbball.com
Area :	2700 sq. ft.
Location :	Owned
Factory 1 :	Plot No.68 + 74 and 22 R to 28R, R S No.92 part, R S No.88 Part, and R S No.91 Part, Village Antalia, Taluka – Gandevi, Bilimora – 396 325, Gujarat, India
Tel. No.:	91-2634-280004
Fax No.:	91-2634-283034
Area:	12511 sq. mtrs
Location :	Owned
Factory 2 :	Andhakeshwar Road, Village Amalsad, Navsari District – 396 310, Gujarat, India
Area:	10000 sq. ft.
Location :	Owned
Overseas Office :	Located at: · USA · Canada

DIRECTORS

As on 04.10.2013

Name :

Mr. Bhaskar Mohanlal Mehta

Designation :

Managing Director

Address :

Cozy Cottage, Adiyabad Estate, A.B. Nair Road, Juhu, Santacruz (West), Mumbai – 400 054, Maharashtra, India

Date of Birth/Age :

17.08.1934

Qualification :

D.SC

Date of Appointment :

29.11.1996

DIN No.:

00725253

PAN No.:

AAHPM7439C

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	U28100MH1973PLC016533	E M I TRANSMISSION LIMITED	Director	15/12/1994	15/12/1994	-	Active	NO
2	U29130MH1994PLC082390	NHB BALL AND ROLLER LIMITED	Managing director	29/11/1996	29/11/1996	-	Active	NO
3	U74140MH2002PTC137905	GREAT CIRCLE ADVISORS PRIVATE LIMITED	Director	21/11/2002	21/11/2002	-	Strike off	NO
4	L99999MH1949PLC007039	PATEL ENGINEERING LIMITED	Director	20/08/2010	22/09/2009	27/09/2013	Active	N

Name :

Mr. Harsukh Mohanlal Mehta

Designation :

Director

Address :

24-E, Mehta House, Juhu Road, Santacruz (West), Mumbai – 400 054, Maharashtra, India

Date of Birth/Age :

04.03.1928

Qualification :

D.SC (HON) USA

Date of Appointment :

29.11.1996

DIN No.:

00367642

PAN No.:

AAHPM0072B

Name :

Mr. Ashish Bhaskar Mehta

Designation :

Director

Address :

24-E, Mehta House, Juhu Road, Santacruz (West), Mumbai – 400 054, Maharashtra, India

Date of Birth/Age :

21.11.1969

Qualification :

M.B.A.

Date of Appointment :

29.11.1996

DIN No.:

00725023

PAN No.:

AAAPM5916H

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	U70101MH1983PTC031506	MATHURADAS MURJI CONSTRUCTION PRIVATE LIMITED	Director	29/11/1996	29/11/1996	-	Active	NO
2	U29130MH1994PLC082390	NHB BALL AND ROLLER LIMITED	Director	29/11/1996	29/11/1996	-	Active	NO
3	U74140MH2002PTC137905	GREAT CIRCLE ADVISORS PRIVATE LIMITED	Director	11/06/2004	11/06/2004	-	Strike off	NO
4	U85100DL2010PTC200694	SilverMaple Healthcare Services Private Limited	Director	24/09/2011	15/12/2010	29/09/2012	Active	NO
5	U67190MH2012PTC236512	NHB Investments Consultancy Private Limited	Director	05/10/2012	05/10/2012	-	Active	NO

Name :

Mr. Dharmesh Harsukh Mehta

Designation :

Director

Address :

24-E, Mehta House, Juhu Road, Santacruz (West), Mumbai – 400 054, Maharashtra, India

Date of Birth/Age :

05.06.1966

Qualification :

M.B.A.

Date of Appointment :

29.11.1996

DIN No.:

00725189

PAN No.:

AABPM6829Q

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	U29130MH1994PLC082390	NHB BALL AND ROLLER LIMITED	Director	29/11/1996	29/11/1996	-	Active	NO
2	U67190MH2012PTC236512	NHB Investments Consultancy Private Limited	Director	05/10/2012	05/10/2012	-	Active	NO

Name :

Mr. Kalpesh Bhaskar Mehta

Designation :

Director

Address :

Cozy Cottage, Adiyabad Estate, A.B. Nair Road, Juhu, Santacruz (West), Mumbai – 400 054, Maharashtra, India

Date of Birth/Age :

21.07.1971

Qualification :

M.B.A

Date of Appointment :

26.10.1994

DIN No.:

00725207

PAN No.:

AAAPM5917G

Name :

Mrs. Urmila Bhasker Mehta

Designation :

Director

Address :

24-E, Mehta House, Juhu Road, Santacruz (West), Mumbai – 400 054, Maharashtra, India

Date of Birth/Age :

06.12.1941

Qualification :

B.Com

Date of Appointment :

29.11.1996

DIN No.:

01825099

PAN No.:

AAJPM6701B

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	U29130MH1994PLC082390	NHB BALL AND ROLLER LIMITED	Director	29/11/1996	29/11/1996	-	Active	NO
2	U70101MH1983PTC031506	MATHURADAS MURJI CONSTRUCTION PRIVATE LIMITED	Director	29/11/1996	29/11/1996	-	Active	NO

MAJOR SHAREHOLDERS

As on 04.10.2013

Names of Shareholders	No. of Shares	% of Holding
Hasmukh Mehta	958613	8.14%
H.M. Mehta (HUF)	447971	3.80%
Sulochana H. Mehta	531540	4.51%
Dharmesh Mehta	2458536	20.87%
Sejal Mehta	559475	4.75%
Hana Mehta	242566	2.06%
Thea Mehta	242566	2.06%
Priti Jayant Doshi	225000	1.91%
Neeta Gandhi	225000	1.91%
Bhaskar Mehta	1155043	9.80%
Kalpesh Mehta (HUF)	109135	0.93%
Urmila Mehta	644998	5.47%
Ashish Mehta	1627886	13.82%
Kalpesh Mehta	1627886	13.82%
Arusha Tuli	297878	2.53%
Monica A. Mehta	78640	0.67%
Suchitra K. Mehta	78640	0.67%
Ashish Mehta (HUF)	108948	0.91%
B.M. Mehta (HUF)	162211	1.37%
Total	11782532	100.00

Equity Share Break up (Percentage of Total Equity)

As on 04.10.2013

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of precision steel balls made of carbon steel, chrome steel, stainless steel, brass, aluminium and other materials.

Products :

Item Code No.	Product Description
84829113	Steel Ball
72210090	Bars and Rods

PRODUCTION STATUS (As on 31.06.2011)

Particulars	Unit	30.06.2011 Quantity (Lakhs. Nos.)
Capacity and Productions (as per Returns submitted to DID)	In No.	33746.00

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

· Standard Chartered Bank, Crescenzo, 3A/F, Plot No.C-38 and 39, G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051, Maharashtra, India

· State Bank of India, Mid Corporate Branch, VIA House, GIDC, Vapi – 396 195, Gujarat, India

· Dena Bank, Corporate Business Branch, C-10, G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051, Maharashtra, India

Facilities :

SECURED LOANS	30.06.2013 Rs. In Millions	30.06.2012 Rs. In Millions
Long Term Borrowings
Rupee term loans from banks	5.642	0.000
Foreign currency term loans from banks	15.634	50.877
Other external commercial borrowings	134.324	183.004
Short Term Borrowings
Working capital loans from banks	403.218	414.176
Total	558.818	648.057

Banking Relations :	--
Financial Institutions :	St Helen's Nominees India Private Limited, Chartered Bank Building, 3-25, M G Road, Fort, Mumbai - 400001, Maharashtra, India
Auditors :
Name :	Kamdar Desai and Patel Chartered Accountants
Address :	296, Vasaikar House, Cadell Road, Dadar (West), Mumbai – 400 028, Maharashtra, India
PAN No.:	AAAFK6984H

CAPITAL STRUCTURE

As on 04.10.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
12000000	Equity Shares	Rs.10/- each	Rs.120.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
11782532	Equity Shares	Rs.10/- each	Rs.117.825 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	30.06.2013	30.06.2012	30.06.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	117.825	100.325	87.825
(b) Reserves & Surplus	360.196	302.019	260.863
(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)	478.021	402.344	348.688
(3) Non-Current Liabilities
(a) long-term borrowings	274.123	352.135	197.270
(b) Deferred tax liabilities (Net)	14.560	12.592	12.592
(c) Other long term liabilities	0.500	0.500	0.500
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	289.183	365.227	210.362
(4) Current Liabilities
(a) Short term borrowings	403.218	414.176	359.493
(b) Trade payables	560.520	501.507	382.461
(c) Other current liabilities	131.706	104.270	98.607
(d) Short-term provisions	0.803	2.827	11.645
Total Current Liabilities (4)	1096.247	1022.780	852.206
TOTAL	1863.451	1790.351	1411.256
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	591.720	433.249	445.493
(ii) Intangible Assets	7.603	9.071	0.000
(iii) Capital work-in-progress	40.203	133.631	5.309
(iv) Intangible assets under development	0.127	0.090	0.000
(b) Non-current Investments	0.000	0.000	5.376
(c) Deferred tax assets (net)	5.376	5.376	0.000
(d) Long-term Loan and Advances	19.849	48.920	24.721
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	664.878	630.337	480.899
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	627.437	625.792	503.896
(c) Trade receivables	444.422	379.059	331.621
(d) Cash and cash equivalents	66.930	86.741	46.897
(e) Short-term loans and advances	37.250	42.018	17.512
(f) Other current assets	22.534	26.404	30.431
Total Current Assets	1198.573	1160.014	930.357
TOTAL	1863.451	1790.351	1411.256

PROFIT & LOSS ACCOUNT

	PARTICULARS			30.06.2013	30.06.2012	30.06.2011
	SALES
		Income		1635.964	1515.301	1285.816
		Other Income		20.469	13.845	8.061
		TOTAL (A)		1656.433	1529.146	1293.877
Less	EXPENSES
		Cost of Materials Consumed		975.177	863.926	760.149
		Changes in Inventories of finished goods, work-in-progress and stock-in-trade		(16.668)	(14.638)	(45.609)
		Employee Benefits Expenses		109.009	98.500	92.772
		Other Expenses		349.600	386.809	328.789
		TOTAL (B)		1417.118	1334.597	1136.101
Less	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			239.315	194.549	157.776
Less	FINANCIAL EXPENSES (D)			118.262	115.886	61.394
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			121.053	78.663	96.382
Less	DEPRECIATION/ AMORTISATION (F)			69.762	50.007	44.849
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)			51.291	28.656	51.533
Less	TAX (H)			10.614	0.000	9.406
	PROFIT/(LOSS) AFTER TAX (G-H) (I)			40.677	28.656	42.127
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD			182.646	153.990	111.863
	BALANCE CARRIED TO THE B/S			223.322	182.646	153.990
	EARNINGS IN FOREIGN CURRENCY
			FOB Value of Exports	179.543	170.048	140.024
	TOTAL EARNINGS			179.543	170.048	140.024
	IMPORTS
			Raw Materials	473.386	439.795	319.519
			Components , Packing Material and spare parts (Including Stores)	104.780	96.854	39.198
			Capital Goods	5.227	1.562	40.216
			Others (Includes Professional Fees, Foreign Travelling etc.)	0.000	0.000	7.443
	TOTAL IMPORTS			583.393	538.211	406.376
	Earnings Per Share (Rs.)
	- Basic			3.92	2.86	4.80
	- Diluted			3.92	3.22	4.80

KEY RATIOS

PARTICULARS		30.06.2013	30.06.2012	30.06.2011
PAT / Total Income	(%)	2.46	1.87	3.26
Net Profit Margin (PBT/Sales)	(%)	3.14	1.89	4.01
Return on Total Assets (PBT/Total Assets}	(%)	2.82	1.74	3.68
Return on Investment (ROI) (PBT/Networth)		0.11	0.07	0.15
Debt Equity Ratio (Total Debt /Networth)		1.42	1.90	1.60
Current Ratio (Current Asset/Current Liability)		1.09	1.13	1.09

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

UNSECURED LOANS:

Particulars	30.06.2013 Rs. In Millions	30.06.2012 Rs. In Millions
Long Term Borrowings
Other loans and advances, others	118.523	118.254
Total	118.523	118.254

FINANCIAL AND OPERATIONAL PERFORMANCE:

a. During the year under report, your company’s net sales grew by 8% as compared to the previous year.

b. The Company is receiving utmost co-operation from its Bankers and your Directors wish to thank them for their continued support.

c. The Directors also wish to thank the customers of the Company who continues to place faith, in the quality of our products, over many years.

d. The company has envisaged channel concept with the help of Mr. Giuseppe Panaccione (Ex-employee NN Europe –Pinerolo facility, Italy) and it will be fully operation by end of June 2014 .It shall provide us additional benefits in terms of capacity, reduction of cost & improve bottom line from July 2014 onwards

e. They have envisaged diversifying into manufacture of “rollers” for our existing customers to start with. The project is under active consideration, but, the implementation schedule shall be influenced by the market conditions.

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10426535	25/04/2013	1,427,300,000.00	DENA BANK	Corporate Business Branch, C-10, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai, Maharashtra - 400051, India	B75420257
2	10327881	03/05/2012 *	180,000,000.00	Standard Chartered Bank	Crescenzo, 3A/F, Plot no. C-38 and 39, G Block, Bandra Kurla Complex, Bandra East, Mumbai, Maharashtra - 400051, INDIA	B41540840
3	10277187	31/03/2011 *	377,300,000.00	State Bank of India	Mid Corporate Branch (60144), VIA House, GIDC, Vapi, Gujarat - 396195, INDIA	B10949766
4	10211391	04/10/2011 *	180,000,000.00	ST HELEN'S NOMINEES INDIA PRIVATE LIMITED	CHARTERED BANK BLDG23-25 M G ROAD, FORT, MUMBAI, Maharashtra - 400001, INDIA	B58801713
5	10144139	07/03/2012 *	565,200,000.00	Dena Bank	C-10, G Block, Bandra Kurla Complex, Bandra East, Mumbai, Maharashtra - 400051, INDIA	B37148335
6	10144142	05/01/2009	40,000,000.00	Dena Bank	Corporate Business Branch, C-10, G-Block, Bandra Kurla Complex, Bandra East, Mumbai, Maharashtra - 400051, INDIA	A57348500
7	10144149	22/07/2010 *	250,000,000.00	Dena Bank	Corporate Business Branch, C-10, G- Block, Bandra-Kurla Complex, Bandra, Maharashtra - 400051, INDIA	A90178880
8	10096480	31/03/2008	30,000,000.00	Dena Bank	Corporate Business Branch, Dena Corporate Centre, C-10, G Block, Bandra-Kurla Complex, Bandra (E), Mumbai, Maharashtra - 400051, INDIA	A36009967
9	10071922	22/07/2010 *	110,600,000.00	Dena Bank	Corporate Business Branch, C-10, G- Block, Bandra-Kurla Complex, Bandra, Maharashtra - 400051, INDIA	A90179185
10	10030803	30/11/2006	572,400,000.00	Dena Bank	Dena Corporate Centre, Bandra-Kurla Complex, Bandra (East), MUMBAI, Maharashtra - 400051, INDIA	A08034779
11	10019300	23/08/2006	100,000,000.00	Dena Bank	Corporate Business Branch, C-10, G Block, BandraKurla Complex, Bandra (East), Mumbai, Maharashtra- 400051, INDIA	A04437752
12	10005575	02/06/2006	7,380,000.00	HDFC BANK LIMITED	HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA	A01261569
13	10006289	02/06/2006	7,380,000.00	HDFC BANK LIMITED	HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA	A01261916
14	90213346	03/05/2012 *	488,500,000.00	DENA BANK	Corporate Business Branch, C-10, G-Block, Bandra Kurla Complex, Bandra (E), Mumbai, Maharashtra - 400051, India	B40732398

*Date of modification Charges

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Furniture and Fixture

· Computer

· Vehicles

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.62.99
UK Pound	1	Rs.104.61
Euro	1	Rs.86.17

INFORMATION DETAILS

Report Prepared by :

VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	5
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		47

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
NB		NEW BUSINESS

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.