MIRA INFORM REPORT

Report Date :

03.07.2014

IDENTIFICATION DETAILS

Name :	LAMINA SUSPENSION PRODUCTS LIMITED
Registered Office :	8^th Floor, Ram Bhavan Complex, Kodiabail, Mangalore-575003, Karnataka
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	26.11.1975
Com. Reg. No.:	08-002910
Capital Investment / Paid-up Capital :	Rs. 23.467 Millions
CIN No.: [Company Identification No.]	U27109KA1975PLC002910
TAN No.: [Tax Deduction & Collection Account No.]	BLRL00837E
PAN No.: [Permanent Account No.]	AAACL3061H
Legal Form :	A Closely Held Public Limited Liability Company.
Line of Business :	Manufacturer and Exporter of Automobile Leaf Springs.
No. of Employees :	550 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (32)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 220000
Status :	Moderate
Payment Behaviour :	Slow But Correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. Profitability of the company is low. However, trade relation are fair. Business is active. Payment terms are slow but correct. The company can be considered for business dealing with same caution.

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 – March 31, 2014

Country Name	Previous Rating (31.12.2013)	Current Rating (31.03.2014)
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

N E W S

The economy grew 4.7 %in 2013/14, marking a second straight year of sub-5 % growth – the worst slowdown in more than a quarter of a century. The data was below an official estimate of 4.9 % annual growth and compared with 4.5 % in the last fiscal year. However, the current account deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic product, in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year before. A sharp fall in gold imports due to restrictions on overseas purchases and muted import of capital goods helped shrink the current account deficit.

Online retailer Flipkart has acquired fashion portal Myntra as it prepares to battle with the rapidly expanding India arm of the global e-commerce giant Amazon. The company raised $ 210 million from Russian Investment firm DST Global which has also invested in companies like Facebook, Twitter and Alibaba Group.

General Motors will start exporting vehicles from its Talegaon plant near Pune in the second half of 2014. GM was one of the few global carmakers that was using its India plant only for the domestic market.

Google has overtaken Apple as the world’s top brand in terms of value, according to global market research agency Millward Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top 10 of the 100 slots were dominated by US companies.

Infosys lost another heavy weight when B G Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V Balakrishnan being the other two. While Vemuri went on to lead IGate, Balakrishnan joined politics.

Naresh Goyal – promoted Jet Airways posted biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31, mainly because it has been offering discounts to passengers to fill planes.

William S Pinckney – Chairman and CEO of Amway India was arrested by the Andhra Pradesh Police in connection with a complaint against the direct selling firm. This is the second time that he has been taken into custody. A year, ago the Kerala Police had arrested Pinckney and two company directors on charges of financial irregularities.

China has told its state-owned enterprises to sever links with American consulting firms after the United States charged five Chinese military officers wih hacking US companies. China’s action which targets consultancies like McKinsey & Co. and the Boston Consulting Group, sterns from fears that the first are providing trade secrets to the US governments.

India has emerged as a country with some of the highest unregistered businesses in the world. Indonesia has the maximum number of shadow businesses, says a study of 68 countries by Imperial College Business School in London.

Pfizer has abandoned its attempt to buy AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55 pounds a share.

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	B+ (Long Term Rating)
Rating Explanation	Risk prone credit quality and very high credit risk.
Date	12.08.2013

Rating Agency Name	CRISIL
Rating	A4 (Short Term Rating)
Rating Explanation	Minimal degree of safety and very high credit risk.
Date	12.08.2013

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

INFORMATION PARTED BY

Name :	Mr. Avinash
Designation :	Director
Contact No.:	91-9880734679
Date :	21.06.2014

LOCATIONS

Registered Office :	8^th Floor, Rama Bhavan Complex, Kodialbail, Mangalore-575003, Karnataka, India
Tel. No.:	91-824-2408679/2440556/2440561/2440587
Mobile No.:	91-9880734679 (Mr. Avinash)
Fax No.:	91-824-2440994
E-Mail :	mylamina@hotmail.com saliancs@gmail.com
Website :	http://www.laminasprings.com
Area :	200000 Sq. Ft.
Location :	Owned
Factory:	17/19 B, Industrial Area, Baikmpady, Mangalore-575011, Karnataka, India
Area :	Owned

DIRECTORS

As on: 28.09.2013

Name :

Mr. Nitte Vinay Hegde

Designation :

Managing Director

Address :

Sadanand Shiv Bagh, Kadri, Mangalore-575002, Karnataka, India

Date of Birth/Age :

02.04.1939

Date of Appointment :

26.11.1975

DIN No.:

00043080

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	U27109KA1975PLC002910	LAMINA SUSPENSION PRODUCTS LIMITED	Managing director	01/10/2012	26/11/1975	-	Active	NO
2	L85110KA1981PLC004151	LAMINA FOUNDRIES LIMITED	Director	19/03/1981	19/03/1981	-	Active	NO
3	U29113KA1979PTC003671	LAMINA ENGINEERING COMPANY PRIVATE LIMITED	Director	09/06/1981	09/06/1981	-	Amalgamated	NO
4	U80210KA2011PTC057439	NITTE EDUCATION INTERNATIONAL PRIVATE LIMITED	Director	07/03/2011	07/03/2011	-	Active	NO
5	U80900KA2014NPL074455	Educational Assessment and Rating Foundation	Director	07/04/2014	07/04/2014	-	Active	NO

Name :

Mr. Tonse Ramesh Shenoy

Designation :

Director

Address :

Vaishalya M.G. Cross Road, Kodialbail (West), Mangalore-575003, Karnataka, India

Date of Birth/Age :

13.04.1937

Date of Appointment :

26.11.1975

DIN No.:

00053932

Other Directorship:

.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	U27109KA1975PLC002910	LAMINA SUSPENSION PRODUCTS LIMITED	Whole-time director	01/10/2012	26/11/1975	-	Active	NO
2	U29113KA1979PTC003671	LAMINA ENGINEERING COMPANY PRIVATE LIMITED	Managing director	04/12/1979	04/12/1979	-	Amalgamated	NO
3	L85110KA1981PLC004151	LAMINA FOUNDRIES LIMITED	Director	19/03/1981	19/03/1981	-	Active	NO

Name :

Mr. Guru Prasad Adyanthaya

Designation :

Whole Time Director

Address :

SP 3, Hisg Race, Condominium Martin Pais Road, Hat Hill, Mangalore-575006, Dakshina Kannada, Karnataka, India

Date of Birth/Age :

10.09.1953

Date of Appointment :

26.11.1975

DIN No.:

00043142

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	U27109KA1975PLC002910	LAMINA SUSPENSION PRODUCTS LIMITED	Whole-time director	01/10/2012	26/11/1975	-	Active	NO
2	U29113KA1979PTC003671	LAMINA ENGINEERING COMPANY PRIVATE LIMITED	Director	04/12/1979	04/12/1979	-	Amalgamated	NO
3	L85110KA1981PLC004151	LAMINA FOUNDRIES LIMITED	Director	19/03/1981	19/03/1981	-	Active	NO
4	U85110KA1989PTC009866	PADMASHREE HOSPITAL AND RESEARCH CENTRE PRIVATE LIMITED	Managing director	01/02/1991	01/02/1991	-	Active	NO
5	U65992KA1993PTC014700	LAMINA INVESTMENTS PRIVATE LIMITED	Director	01/09/1993	01/09/1993	-	Active	NO
6	U85110KA1992PTC013227	ELESPEE PRODUCTS PRIVATE LIMITED	Director	08/09/1995	08/09/1995	-	Active	NO

Name :

Mr. Vishal Hegde

Designation :

Director

Address :

Sadanand Shiv Bagh, Kadri, Mangalore-575002, Karnataka, India

Date of Birth/Age :

03.10.1971

Date of Appointment :

23.10.1998

DIN No.:

00043245

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	U27101KA1985PTC007105	MANMET ENGINEERING PRODUCTS PRIVATE LIMITED	Director	05/05/1992	05/05/1992	-	Active	NO
2	U85110KA1989PTC009866	PADMASHREE HOSPITAL AND RESEARCH CENTRE PRIVATE LIMITED	Director	30/09/1992	30/09/1992	-	Active	NO
3	U65992KA1993PTC014700	LAMINA INVESTMENTS PRIVATE LIMITED	Director	01/09/1993	01/09/1993	-	Active	NO
4	U85110KA1991PLC011617	LAMINA LEASING ANDFINANCE LIMITED	Director	08/08/1995	08/08/1995	-	Active	NO
5	U27109KA1975PLC002910	LAMINA SUSPENSION PRODUCTS LIMITED	Director	23/10/1998	23/10/1998	-	Active	NO
6	L85110KA1981PLC004151	LAMINA FOUNDRIES LIMITED	Director	24/09/1999	24/09/1999	-	Active	NO
7	U80210KA2011PTC057439	NITTE EDUCATION INTERNATIONAL PRIVATE LIMITED	Director	07/03/2011	07/03/2011	-	Active	NO

Name :

Mr. Jayaram Mulloly

Designation :

Director

Address :

Pusha Marnamikatta, Mangalore-575001, Dakshina Kannada, Karnataka, India

Date of Birth/Age :

14.02.1942

Date of Appointment :

30.09.1996

DIN No.:

00043335

Name :

Mr. Avinash Shenoy

Designation :

Director

Address :

Vaishalya, M G Road, Kodialguthu West, Mangalore-575003, Dakshina Kannada, Karnataka, India

Date of Birth/Age :

21.11.1977

Date of Appointment :

17.08.2007

DIN No.:

00043540

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	U85110KA1992PTC013227	ELESPEE PRODUCTS PRIVATE LIMITED	Director	01/12/1995	01/12/1995	-	Active	NO
2	U85110KA1991PLC011617	LAMINA LEASING ANDFINANCE LIMITED	Director	26/06/2004	26/06/2004	-	Active	NO
3	U27109KA1975PLC002910	LAMINA SUSPENSION PRODUCTS LIMITED	Director	17/08/2007	17/08/2007	-	Active	NO

Name :

Mr. Surendra Jayaram Reddy

Designation :

Director

Address :

12/13, Langford Road, Bangalore-560025, Karnataka, India

Date of Birth/Age :

26.06.1937

Date of Appointment :

08.09.2008

DIN No.:

00109421

Other Directorship:

.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	U29253KA1968PTC001766	BANGALORE PENTA-TECH ENGINEERING PRIVATE LIMITED	Director	22/11/1968	22/11/1968	10/12/2010	Active	NO
2	U24210KA1972PLC002255	PROMAC ENGINEERING INDUSTRIES LIMITED	Managing director	01/04/2013	18/10/1972	-	Active	NO
3	U51909KA1984PTC006257	J.S.ENTERPRISES PRIVATE LIMITED	Director	04/10/2000	04/10/2000	30/12/2007	Strike off	NO
4	U26951UP1988PLC010111	JAYKAYCEM LIMITED	Director	29/05/2001	29/05/2001	-	Amalgamated	NO
5	L85110KA1981PLC004151	LAMINA FOUNDRIES LIMITED	Director	10/06/2003	10/06/2003	-	Active	NO
6	U27109KA1975PLC002910	LAMINA SUSPENSION PRODUCTS LIMITED	Director	08/09/2008	22/09/2007	-	Active	NO
7	U74140DL2005PTC137679	POWERTEC ENGINEERING PRIVATE LIMITED	Director	30/09/2010	12/07/2010	-	Active	NO
8	U29220KA2013PTC068720	TAIHEIYO PROMAC ENGINEERING PRIVATE LIMITED	Director	23/04/2013	23/04/2013	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 28.09.2013

Names of Shareholders	No. of Shares
N V Hegde	9395
T R Shenoy	14040
G P Adyanthaya	14319
Sujatha V Hegde	571
Indira S Shetty	57
Asha Y Ajila	157
Vatsala R Shetty	57
Sumitra R Shetty	113
Shambhavi V Shetty Archana Shetty	100
Sushmita Shetty	100
Surekha R Adyanthaya	25
Rathnavathi P Shetty	113
Bhavani Adyanthaya	100
Shalini R Shetty	57
B T Bhandary	57
Vidya R Hegde	57
U Sadanand Shetty	50
J Mohandas Prabhu	100
V Ravindra Babu	100
Mohini R Shenoy	560
N KamalaDevi V Kudva	57
S S Adyanthaya	100
Dr N Vishwanath Adyanthaya	526
N Santhosh Hegde	45
Arundathi K Ajila Chitrajith	50
Sharmila Kapur Divya Kapur Nikil Kapur	12
Chandralekha P Hegde	2
D Veerandra Heggade	2
Poornima Shenoy	80
Gopalkrishna Shenoy	80
Avinash Shenoy	80
Ashwitha Punja	1
Chandrakala G Raykar	40
Dinesh Prabhu	40
Shailesh Prabhu	30
Ramesh Prabhu	40
Sumana Prabhu	30
Vidya Prabhu	30
Nirmala Adyanthaya	523
Sucharitha R Hegde	100
Sujyothi Shetty	25
D Vinaya Kumar	28
Y Ruvindranath Bhal	25
Vishal Hegde	4770
Suresh Chandra Malpani	6
Arundathi K Ajila Chitrajith	7
Vanamala B Ajila	13
Shatheri Prabhu	13
Sukumar Adyanthaya	13
Smitha Hariprasad Shetty	13
Vijaya Y Shety Sushmitha Shetty	13
V Amarendra Babu	13
TOTAL	46935

Equity Share Break up (Percentage of Total Equity)

As on: 28.09.2013

Equity Shares Break Up	Percentage of Holding
Directors or relatives of Directors	50.00
Other top fifty shareholders	50.00
TOTAL	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Automobile Leaf Springs.

Products :

Product Description	Item Code
Leaf Springs for Motor Vehicles	732010.01

Exports :

Product:

Finish Goods

Countries :

• USA
• UK
• Italy
• Taiwan
• South Korea
• France
• Saudi Arabia

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

GENERAL INFORMATION

Customers :

Wholesalers and OEM’s

No. of Employees :

550 (Approximately)

Bankers :

• Syndicate Bank, Hampankatta Branch, Mangalore-575001, Karnataka, India
• Corporation Bank, Vishwa Kamala Building, Main Road, Baikampady, Mangalore-575011, Karnataka, India
• Andhra Bank, Ajanta Complex, Hampankatta, Mangalore-575001, Karnataka, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2013	As on 31.03.2012
Long term Borrowing:
Term loan from bank	22.526	-
From co-operative society	4.110	3.957
Short term Borrowing:
Working capital from Bank	95.334	84.921
Total	121.970	88.878

Banking Relations :	--
Auditors :
Name :	G Hariram Shenoy Chartered Accountant
Address :	No. 5 and 6 Sevashram Apartments, Bunts Hostel Road, Mangalore-575003, Karnataka, India
PAN No.:	ANGPS3432D
Subsidiaries :	Lamina Foundries Limited CIN No.:- L85110KA1981PLC004151
Associates :	Manmet Engineering Products Private Limited Elespee Products Private Limited Lamina International

CAPITAL STRUCTURE

As on: 28.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs.500/- each	Rs. 25.000 Millions
50000	15% Cumulative Redeemable Preference Shares	Rs.100/- each	Rs. 5.000 Millions
	TOTAL		Rs. 30.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
46935	Equity Shares	Rs.500/- each	Rs. 23.467 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	23.467	23.467	22.067
(b) Reserves & Surplus	31.803	30.783	23.891
(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)	55.270	54.250	45.958
(3) Non-Current Liabilities
(a) long-term borrowings	176.045	126.583	122.138
(b) Deferred tax liabilities (Net)	1.659	1.445	4.400
(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)	177.704	128.028	126.538
(4) Current Liabilities
(a) Short term borrowings	95.334	84.921	68.345
(b) Trade payables	129.575	149.299	174.975
(c) Other current liabilities	66.856	87.661	68.278
(d) Short-term provisions	0.792	23.871	21.666
Total Current Liabilities (4)	292.557	345.752	333.264
TOTAL	525.531	528.030	505.760
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	100.930	101.011	99.710
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	5.646	3.460
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	17.406	17.406	17.039
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	6.071	6.026	6.064
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	124.407	130.089	126.273
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	172.739	167.601	174.472
(c) Trade receivables	174.500	184.935	154.881
(d) Cash and cash equivalents	39.557	28.465	29.973
(e) Short-term loans and advances	14.328	16.940	20.161
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	401.124	397.941	379.487
TOTAL	525.531	528.030	505.760

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	750.203	799.099	771.597
		Other Income	8.167	2.615	5.062
		TOTAL (A)	758.370	801.714	776.659
Less	EXPENSES
		Cost of Materials Consumed	472.535	513.396	526.903
		Purchases of Stock-in-Trade	46.669	47.251	45.365
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	11.947	0.587	(23.108)
		Employees benefits expense	103.998	94.443	94.645
		Other expenses	52.022	53.931	52.713
		TOTAL (B)	687.171	709.608	696.518
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		71.199	92.106	80.141
Less	FINANCIAL EXPENSES (D)		58.768	50.987	44.482
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		12.431	41.119	35.659
Less/ Add	DEPRECIATION/ AMORTISATION (F)		9.988	9.577	9.235
	PROFIT BEFORE TAX (E-F) (G)		2.443	31.542	26.424
Less	TAX (H)		1.007	10.354	8.864
	PROFIT AFTER TAX (G-H) (I)		1.436	21.188	17.560
	Earnings Per Share (Rs.)		30.60	-	-

KEY RATIOS-

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	0.19	2.64	2.26
Net Profit Margin (PBT/Sales)	(%)	0.33	3.95	3.42
Return on Total Assets (PBT/Total Assets}	(%)	0.48	6.25	5.45
Return on Investment (ROI) (PBT/Networth)		0.04	0.58	0.57
Debt Equity Ratio (Total Debt/Networth)		4.91	3.90	4.14
Current Ratio (Current Asset/Current Liability)		1.37	1.15	1.14

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	22.067	23.467	23.467
Reserves & Surplus	23.891	30.783	31.803
Net worth	45.958	54.250	55.270
long-term borrowings	122.138	126.583	176.045
Short term borrowings	68.345	84.921	95.334
Total borrowings	190.483	211.504	271.379
Debt/Equity ratio	4.145	3.899	4.910

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	771.597	799.099	750.203
		3.564	(6.119)

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	771.597	799.099	750.203
Profit	17.560	21.188	1.436
	2.28%	2.65%	0.19%

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	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
21]	Market information	--
22]	Litigations that the firm / promoter involved in	--
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	--
26]	Buyer visit details	--
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10304754	19/11/2012 *	257,500,000.00	SYNDICATE BANK	Hampankatta Branch, Mangalore, Karnataka - 575001,  INDIA	B64055841
2	10127740	05/11/2012 *	46,000,000.00	Corporation Bank	Vishwa Kamala Building, Main Road, Baikampady, Man  galore, Karnataka - 575011, INDIA	B61489746

Date of charge modification

UNSECURED LOAN (In Millions)

Particulars	As on 31.03.2013	As on 31.03.2012
Long term Borrowing:
Deposit	104.004	83.608
Other loans and advances	45.406	39.018
Total	149.410	122.626

FIXED ASSETS

• Freehold Land
• Building
• General Machinery
• Furniture and Fixtures
• Office Appliances
• Vehicles
• Plant and Machinery

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 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.60.19
UK Pound	1	Rs.102.33
Euro	1	Rs.82.01

INFORMATION DETAILS

Information Gathered by :	PLK
Analysis Done by :	SUM
Report Prepared by :	JGT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--CREDIT LINES	1~10	3
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		32

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.