MIRA INFORM REPORT

Report Date :

11.07.2014

IDENTIFICATION DETAILS

Name :	MMTC – PAMP INDIA PRIVATE LIMITED
Registered Office :	Rojka Meo Industrial Estate, Tehsil Nuh, Sohna, Mewat – 122103, Haryana
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	18.01.2008
Com. Reg. No.:	05-042218
Capital Investment / Paid-up Capital :	Rs. 646.919 Millions
CIN No.: [Company Identification No.]	U27310HR2008PTC042218
PAN No.: [Permanent Account No.]	AAFCM3576K
Legal Form :	Private Limited Liability Company
Line of Business :	Importer and processing of raw gold and exporter of gold.
No. of Employees :	300 (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 1600000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a subsidiary of “MKS HOLDINGS B.V”, SWITZERLAND. It is an established company having moderate track record. The rating is constrained on account of company’s moderate financial risk profile marked by continuous accumulated losses incurred over a year and below average financial performance of the company. However, trade relations are fair. Business is active. Payment terms are slow but correct. The company can be considered for business dealing with some caution. NOTE: Financial for the year 2013 could not be made available from government department due to technical error.

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	Long Term Rating=BBB-
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	30.10.2013

Rating Agency Name	CRISIL
Rating	Short Term Rating=A3
Rating Explanation	Moderate degree of safety and high credit risk.
Date	30.10.2013

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. Abhishek Sharma
Designation :	Accounts Executive
Contact No.:	91-11-49684200
Date :	08.07.2014

LOCATIONS

Registered Office :	Rojka Meo Industrial Estate, Tehsil Nuh, Sohna, Mewat – 122103, Haryana, India
Tel. No.:	91-11-49684200
Fax No.:	91-11-49684201
E-Mail :	Abhishek.sharma@mmtpamp.com
Website :	www.mmtcpamp.com
Location :	Owned
Locality :	Commercial
Corporate Office :	C-27, 3^rd Floor, Qutab Institutional Area, New Delhi – 110016, India

DIRECTORS

AS ON 01.08.2012

Name :

Mr. Rajesh Khosla

Designation :

Managing Director

Address :

73, Paschimi Marg, Vasant Vihar, New Delhi – 110057, India

Date of Birth/Age :

14.08.1942

Date of Appointment :

21.01.2008

DIN No.:

00203615

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	U51909DL2004PTC125629	METLLOY TRADING SERVICES PRIVATE LIMITED	Managing director	15/04/2004	15/04/2004	16/03/2009	Active	NO
2	U74140DL2005PTC131966	VARDA CONSULTANTS PRIVATE LIMITED	Director	11/01/2005	11/01/2005	15/07/2009	Active	NO
3	U27310HR2008PTC042218	MMTC - PAMP INDIA PRIVATE LIMITED	Managing director	21/01/2008	18/01/2008	-	Active	NO

Name :

Mr. Rohit Tandon

Designation :

Director

Address :

A-124, Shivalik, Near Malviya Nagar, New Delhi – 110017, India

Date of Birth/Age :

18.02.1960

Date of Appointment :

15.07.2009

DIN No.:

00137079

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	U74899DL1986PTC024979	PRAKASH DEVELOPMENT PRIVATE LTD	Director	18/02/1989	18/02/1989	-	Active	NO
2	U74110DL2000PTC108690	OASIS REALTORS & PROMOTERS PRIVATE LIMITED	Director	01/12/2000	01/12/2000	18/08/2011	Active	NO
3	U51909DL2004PTC129971	OASIS REALTORS PRIVATE LIMITED	Director	05/08/2005	05/08/2005	21/12/2009	Active	NO
4	U51311DL2004PTC127610	JASK EXPORTS PRIVATE LIMITED	Director	22/07/2006	22/07/2006	-	Active	NO
5	U74140DL2007PTC171174	BLUE COLLAR ADVISORY PRIVATE LIMITED	Director	06/12/2007	06/12/2007	06/05/2014	Active	NO
6	U72900DL2007PTC167695	SIROHI INFOTECH PRIVATE LIMITED	Director	30/09/2009	24/11/2008	-	Active	NO
7	U27310HR2008PTC042218	MMTC - PAMP INDIA PRIVATE LIMITED	Director	15/07/2009	09/03/2009	-	Active	NO
8	U74999DL2000PTC104775	KARNI ENTERPRISES PRIVATE LIMITED	Director	27/09/2010	04/04/2009	-	Active	NO
9	U74900DL2009PTC194640	ENDECEED GLOBAL SOLUTIONS PRIVATE LIMITED	Director	24/09/2009	24/09/2009	01/05/2010	Active	NO
10	U72200DL1999PTC101837	C-CUBE TECHNOLOGIES PVT LTD	Director	27/09/2010	01/12/2009	-	Active	NO
11	U74899DL2001PTC109097	KHARSANG MINERALS PRIVATE LIMITED	Director	27/09/2010	01/12/2009	-	Active	NO
12	U74999DL2005PTC134203	CTO SARVASHIKSHA INSTITUTE PRIVATE LIMITED	Director	22/09/2010	11/12/2009	-	Active	NO
13	U70101DL2004PTC128247	TRIKUTA BUILDTECH PRIVATE LIMITED	Additional director	01/01/2010	01/01/2010	03/03/2010	Active	NO
14	U60210DL1994PTC057919	PRABHASH MOTOR FINANCE CO. PRIVATE LIMITED	Director	28/09/2011	25/02/2010	05/09/2012	Active	NO
15	U45201DL2004PTC124050	GAUTAM BUILDCON PRIVATE LIMITED	Director	27/12/2010	27/12/2010	-	Active	NO
16	U15122DL2011PTC228238	JASK FOODS PRIVATE LIMITED	Director	02/12/2011	02/12/2011	15/03/2012	Active	NO
17	U74120DL1992PLC048950	DEVLIN CORPORATION LIMITED	Director	10/04/2014	10/04/2014	-	Active	NO

Name :

Mr. Bhaskara Nageswararao Mandavilli

Designation :

Director

Address :

Canara House No-6, First Cross, First Block Jaya Nagar, Bangalore – 560011, Karnataka, India

Date of Birth/Age :

19.06.1948

Date of Appointment :

15.07.2009

DIN No.:

00287260

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	U91110MH1928GAP001391	INDIAN INSTITUTE OF BANKING AND FINANCE	Director	28/06/2005	28/06/2005	27/01/2009	Active	NO
2	U85110KA1995PLC017248	CANBANK VENTURE CAPITAL FUND LIMITED	Director	13/07/2005	13/07/2005	30/06/2008	Active	NO
3	U85110KA1994PLC016174	CANBANK COMPUTER SERVICES LIMITED	Director	01/08/2005	01/08/2005	30/06/2008	Active	NO
4	U85110KA1991PLC011960	CANBANK FACTORS LIMITED	Director	02/08/2005	02/08/2005	01/07/2008	Active	NO
5	U67120MH1996GOI097783	CANARA BANK SECURITIES LIMITED	Nominee director	19/08/2005	19/08/2005	30/06/2008	Active	NO
6	U74999MH2003GOI143150	NABARD CONSULTANCY SERVICES PRIVATE LIMITED	Director	16/07/2007	16/07/2007	16/07/2009	Active	NO
7	U67200MH1972GOI016133	GENERAL INSURANCE CORPORATION OF INDIA	Director	07/08/2007	07/08/2007	01/07/2008	Active	NO
8	U66010DL2007PLC248825	CANARA HSBC ORIENTAL BANK OF COMMERCE LIFE INSURANCE COMPANY LIMITED	Nominee director	22/05/2008	25/09/2007	11/08/2008	Active	NO
9	U65990MH1993PLC071003	CANARA ROBECO ASSET MANAGEMENT COMPANY LIMITED	Nominee director	26/09/2007	26/09/2007	30/06/2008	Active	NO
10	U67190MH1995PTC093356	FRANKLIN TEMPLETON ASSET MANAGEMENT (INDIA) PRIVATE LIMITED	Director	27/01/2010	19/05/2009	-	Active	NO
11	U27310HR2008PTC042218	MMTC - PAMP INDIA PRIVATE LIMITED	Director	15/07/2009	25/05/2009	-	Active	NO
12	L35202KA1964GOI001530	BEML LIMITED	Director	07/07/2009	07/07/2009	06/07/2012	Active	NO
13	L65921MH1991PLC059642	MAHINDRA AND MAHINDRA FINANCIAL SERVICES LIMITED	Director	23/07/2010	27/07/2009	22/10/2010	Active	NO
14	L24211TN1975PLC006989	E.I.D PARRY (INDIA) LIMITED	Director	28/07/2010	01/08/2009	-	Active	NO
15	L26941TN1957PLC003566	THE RAMCO CEMENTS LIMITED	Director	02/08/2010	05/08/2009	-	Active	NO
16	L40109AP1995PLC019349	TAJ GVK HOTELS AND RESORTS LIMITED	Director	26/07/2010	24/10/2009	-	Active	NO
17	L27310OR1955PLC000310	ELECTRO STEEL CASTINGS LTD	Director	12/07/2010	22/01/2010	-	Active	NO
18	U15421KA2002PLC029968	SADASHIVA SUGARS LIMITED	Director	21/07/2010	09/03/2010	01/08/2010	Active	NO
19	U72200TG2009PLC063614	HEALTHNET GLOBAL LIMITED	Additional director	07/04/2010	07/04/2010	30/03/2012	Active	NO
20	U66030AP2006PLC051760	APOLLO MUNICH HEALTH INSURANCE COMPANY LIMITED	Director	03/08/2010	06/05/2010	-	Active	NO
21	U65910KA2010PTC053907	SS Inclusive Development Finance Private Limited	Director	02/06/2010	02/06/2010	30/09/2011	Active	NO
22	L65993TN1978PLC007576	CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED	Director	28/07/2011	28/07/2010	-	Active	NO
23	U40109AP2001PLC036265	LANCO AMARKANTAK POWER LIMITED	Director	30/09/2011	02/08/2010	-	Active	NO
24	L93090TN1956GOI003507	NEYVELI LIGNITE CORPORATION LIMITED	Director	12/09/2011	30/09/2010	09/08/2013	Active	NO
25	U67120MH2007PLC170358	INDIAN CLEARING CORPORATION LIMITED	Director	29/04/2011	05/10/2010	-	Active	NO
26	U85100KA2010NPL055688	SS Human Development Foundation	Director	29/10/2010	29/10/2010	30/09/2011	Active	NO
27	U40102TN2005GOI058050	NLC TAMIL NADU POWER LIMITED	Director	12/09/2011	11/11/2010	27/02/2013	Active	NO
28	U32201TN1994PLC029608	AIRCEL LIMITED	Director	27/03/2012	14/02/2012	-	Active	NO
29	U74999TN1992PLC039395	AIRCEL CELLULAR LIMITED	Director	27/03/2012	14/02/2012	-	Active	NO
30	U74999TN1998PLC040075	DISHNET WIRELESS LIMITED	Director	27/03/2012	14/02/2012	-	Active	NO
31	U72100MH2000PLC128108	CRISIL Risk and Infrastructure Solutions Limited	Director	09/04/2012	16/02/2012	-	Active	NO
32	U74120TG2008PLC074583	NUZIVEEDU SEEDS LIMITED	Director	23/07/2012	22/06/2012	-	Active	NO
33	U40109TG2005PLC045214	LANCO POWER LIMITED	Director	27/09/2013	06/02/2013	-	Active	NO
34	U80904MH2011NPL222074	BFSI Sector Skill Council of India	Additional director	21/05/2013	21/05/2013	-	Active	NO
35	U65990DL2013GOI256268	BHARATIYA MAHILA BANK LIMITED	Director	05/08/2013	05/08/2013	19/11/2013	Active	NO
36	L26943TN1965PLC005297	RAMCO INDUSTRIES LIMITED	Additional director	29/01/2014	29/01/2014	-	Active	NO
37	U74120AP2008PTC074522	MANDAVA HOLDINGS PRIVATE LIMITED	Additional director	28/03/2014	28/03/2014	-	Active	NO

Name :

Mr. Venkatasubramanian Gopalakrishnan

Designation :

Director

Address :

De Vriendschap 13, 1188 GJ Amstelveen, Amstelveen 1188, Netherlands

Date of Birth/Age :

07.03.1968

Date of Appointment :

15.07.2009

DIN No.:

02592621

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	U27310HR2008PTC042218	MMTC - PAMP INDIA PRIVATE LIMITED	Director	15/07/2009	17/03/2009	-	Active	NO

Name :

Mr. Mehdi Barkhordar

Designation :

Director

Address :

CH Byron 4, 1223, Cologny – 1223, Switzerlands

Date of Birth/Age :

18.02.1962

Date of Appointment :

15.07.2009

DIN No.:

02592647

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	U27310HR2008PTC042218	MMTC - PAMP INDIA PRIVATE LIMITED	Director	15/07/2009	17/03/2009	-	Active	NO

Name :

Mr. Marwan Shakarchi

Designation :

Director

Address :

32, Route De Corsigne, 1252, Meinier, Meinier 1252, Switzerlands

Date of Birth/Age :

02.12.1961

Date of Appointment :

15.07.2009

DIN No.:

02592666

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	U27310HR2008PTC042218	MMTC - PAMP INDIA PRIVATE LIMITED	Director	15/07/2009	17/03/2009	-	Active	NO

KEY EXECUTIVES

Name :	Ms. Barkha Nigam
Designation :	Secretary
Address :	657, Sector-14, Gurgaon – 122001, Haryana, India
Date of Birth/Age :	22.11.1977
Date of Appointment :	28.02.2011
PAN No.:	AEVPN9498N

MAJOR SHAREHOLDERS

AS ON 01.08.2012

Names of Shareholders	No. of Shares	% of Holding
MKS Holding BV, Netherlands	48312000	74.53
MMTC Limited, India	15600000	24.07
MMTC Employees Mutual Benefit Trust, India	909160	1.40
Total	64821160	100.00

Equity Share Break up (Percentage of Total Equity)

AS ON 01.08.2012

Category	Percentage
Government Companies	24.07
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	74.53
Other top fifty shareholders	1.40
Total	100.00

BUSINESS DETAILS

Line of Business :	Importer and processing of raw gold and exporter of gold.
Exports :
Products :	Finished Goods
Countries :	Tanzania
Imports :
Products :	Raw Gold
Countries :	· USA · Saudi Arabia
Terms :
Selling :	L/C and Credit
Purchasing :	L/C and Credit

GENERAL INFORMATION

Customers :

End Users

No. of Employees :

300 (Approximately)

Bankers :

· ING Vysya Bank Limited, Dr. Gopal Das Bhavan, 28, Barakhamba Road, New Delhi – 110001, India

· State Bank of Hyderabad, Core-6, Scope Complex, Lodi Road, New Delhi – 110003, India

Facilities :

SECURED LOANS	31.03.2012 Rs. In Millions	31.03.2011 Rs. In Millions
Long Term Borrowings
Rupee Term Loans from Banks	1253.331	1024.480
Total	1253.331	1024.480

Banking Relations :	--
Auditors :
Name :	S. V. Ghatalia and Associates Chartered Accountants
Address :	Golf View Corporate Tower-B, Sector-42, Sector Road, Gurgaon – 122002, Haryana, India
PAN No.:	AACFS6921Q
Holding Company :	MKS Holding B.V.
Fellow Subsidiaries :	· PAMP S.A · MKS Switzerland S.A. · MKS Precious Metal SDN. BHD. · MKS Precious Metal Singapore PTE Ltd.
Enterprise with Significantly influenced over the Company :	MMTC Limited
Enterprises owned or significantly influenced by key management personnel or their relatives :	Zeus Law Associates

CAPITAL STRUCTURE

AS ON 01.08.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
67100000	Equity Shares	Rs.10/- each	Rs.671.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
64821160	Equity Shares	Rs.10/- each	Rs.648.212 Millions

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
67100000	Equity Shares	Rs.10/- each	Rs.671.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
64691940	Equity Shares	Rs.10/- each	Rs.646.919 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	646.919	595.799
(b) Reserves & Surplus	(243.694)	(23.190)
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	403.225	572.609
(3) Non-Current Liabilities
(a) long-term borrowings	1255.415	1024.480
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	7.993	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	1263.408	1024.480
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000
(b) Trade payables	894.303	56.702
(c) Other current liabilities	263.454	78.212
(d) Short-term provisions	5.206	1.937
Total Current Liabilities (4)	1162.963	136.851
TOTAL	2829.596	1733.940
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1664.671	254.245
(ii) Intangible Assets	0.421	0.000
(iii) Capital work-in-progress	404.269	1417.284
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.020	0.000
(c) Deferred tax assets (net)	0.000	4.246
(d) Long-term Loan and Advances	8.381	23.684
(e) Other Non-current assets	7.485	1.488
Total Non-Current Assets	2085.247	1700.947
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	661.488	20.525
(c) Trade receivables	14.253	1.506
(d) Cash and cash equivalents	58.547	7.189
(e) Short-term loans and advances	9.743	3.738
(f) Other current assets	0.318	0.035
Total Current Assets	744.349	32.993
TOTAL	2829.596	1733.940

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		470.400
2] Share Application Money		0.000
3] Reserves & Surplus		0.000
4] (Accumulated Losses)		0.000
NETWORTH		470.400
LOAN FUNDS
1] Secured Loans		230.380
2] Unsecured Loans		128.276
TOTAL BORROWING		358.656
DEFERRED TAX LIABILITIES		0.000
TOTAL		829.056
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		237.926
Capital work-in-progress		649.435
INVESTMENT		0.000
DEFERRED TAX ASSETS		0.698
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.656
	Sundry Debtors	1.252
	Cash & Bank Balances	2.509
	Other Current Assets	0.022
	Loans & Advances	4.673
Total Current Assets		9.112
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000
	Other Current Liabilities	79.033
	Provisions	0.995
Total Current Liabilities		80.028
Net Current Assets		(70.916)
MISCELLANEOUS EXPENSES		11.913
TOTAL		829.056

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income
		Other Income
		TOTAL (A)	2395.252	30.835	32.852
Less	EXPENSES
		TOTAL (B)	2572.742	42.915	35.679
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(177.490)	(12.080)	(2.827)
	DEPRECIATION/ AMORTISATION (F)		41.913	(1.489)	(0.776)
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)		(219.403)	(14.797)	0.966
	TAX (H)		4.247	3.520	(0.219)
	PROFIT/(LOSS) AFTER TAX (G-H) (I)		(223.650)	(11.277)	0.747
	Earnings/(Loss) Per Share (Rs.)		(3.45)	NA	NA

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	(9.34)	(36.57)	2.27
Return on Total Assets (PBT/Total Assets}	(%)	(9.05)	(4.74)	0.39
Return on Investment (ROI) (PBT/Networth)		(0.54)	(0.03)	0.00
Debt Equity Ratio (Total Debt /Networth)		3.11	1.79	0.76
Current Ratio (Current Asset/Current Liability)		0.64	0.24	0.11

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012
	Rs. In Millions	Rs. In Millions
Share Capital	595.799	646.919
Reserves & Surplus	(23.190)	(243.694)
Net worth	572.609	403.225
long-term borrowings	1024.480	1255.415
Short term borrowings	0.000	0.000
Total borrowings	1024.480	1255.415
Debt/Equity ratio	1.789	3.113

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2010	31.03.2011	31.03.2012
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Sales	32.852	30.835	2,395.252
		(6.140)	7,667.965

NET PROFIT MARGIN

Net Profit Margin	31.03.2010	31.03.2011	31.03.2012
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Sales	32.852	30.835	2,395.252
Profit	0.747	(11.277)	(223.650)
	2.27%	(36.57%)	(9.34%)

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	-----------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
21]	Market information	----------
22]	Litigations that the firm / promoter involved in	----------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	----------
26]	Buyer visit details	----------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	No
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	31.03.2012 Rs. In Millions	31.03.2011 Rs. In Millions
Long Term Borrowings
Term Loans from Others	2.084	0.000
Total	2.084	0.000

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10431867	28/05/2013	3,000,000,000.00	ING VYSYA BANK LIMITED	NARIAN MANZIL, GROUND FLOOR, SHOP NO. G1 TO G5,, I FLOOR,SHOP NO.1001 TO 1007,BARAKHAMBA ROAD,, NEW DELHI, DELHI - 110001, INDIA	B77424216
2	10428126	29/04/2013	2,050,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA	B75888362
3	10421802	02/04/2013	150,000,000.00	AXIS BANK LIMITED	148, BARAKHAMBA ROAD, DELHI, DELHI - 110001, INDIA	B73766974
4	10373684	12/02/2013 *	5,500,000,000.00	INDUSIND BANK LIMITED	DR. GOPAL DAS BHAWAN, 28, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA	B69926236
5	10363528	03/09/2013 *	6,100,000,000.00	STATE BANK OF HYDERABAD	CORE 6, SCOPE COMPLEX,, LODI ROAD, NEW DELHI, DELHI - 110003, INDIA	B84624576
6	10355199	03/09/2013 *	7,240,000,000.00	STATE BANK OF INDIA	CORPORATE ACCOUNTS, JAWAHAR VYAPAR BHAWAN, 11 & 12 FLOOR, 1, TOLSTOY MARG, NEW DELHI, DELHI - 110001, INDIA	B84347517
7	10324358	29/11/2011	166,000,000.00	STATE BANK OF HYDERABAD	CORE - 6, SCOPE COMPLEX, LODI ROAD, NEW DELHI, DELHI - 110003, INDIA	B28282291
8	10268201	14/07/2011 *	255,000,000.00	STATE BANK OF HYDERABAD	CORE 6, SCOPE COMPLEX, LODI ROAD, NEW DELHI, DELHI - 110003, INDIA	B17970567
9	10166423	14/07/2011 *	1,400,000,000.00	STATE BANK OF HYDERABAD	CORE 6, SCOPE COMPLEX, LODI ROAD, NEW DELHI, DELHI - 110003, INDIA	B17969197

*Date of modification Charges

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.59.88
UK Pound	1	Rs.102.59
Euro	1	Rs.81.69

INFORMATION DETAILS

Information Gathered by :	PLK
Analysis Done by :	KRN
Report Prepared by :	NKT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	--
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--CREDIT LINES	1~10	4
--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.