1. Summary Information

		Country	India
Company Name	POLY HOSE INDIA (RUBBER) PRIVATE LIMITED	Principal Name 1	Mr. Shabbir Yusufbhai Jamnagarwala
Status	Satisfactory	Principal Name 2	Mrs. Nafisa Shabbir Jamnagarwala
		Registration #	18-053900
Street Address	Plot No. F37-F42, SIPCOT Industrial Park, Pennalur, Sriperumbuthur Taluk, Tiruvallur – 602105, Tamilnadu
Established Date	05.08.2004	SIC Code	--
Telephone#	91-44-26412830 / 26428116	Business Style 1	Manufacturer
Fax #	91-44-26428093	Business Style 2	-
Homepage	http://www.polyhose.com	Product Name 1	Hydraulic hose
# of employees	Not Available	Product Name 2	thermoplastic hose
Paid up capital	Rs.65,000,000/-	Product Name 3	Polyamide/polyurethane tubings.
Shareholders	Foreign holding-30.58%, Bodies corporate-23.34%, Directors or relatives of directors-46.34%	Banking	DBS Bank Limited
Public Limited Corp.	No	Business Period	10 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	Ba (45)
Related Company -
Relation	Country	Company Name	CEO
Associates	India	· Avon Hydraulics and Engineering Private Limited	-
Note	-

2. Summary Financial Statement

Balance Sheet as of	--		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	7,642,000	Current Liabilities	108,591,000
Inventories	82,574,000	Long-term Liabilities	252,818,000
Fixed Assets	284,241,000	Other Liabilities	33,142,000
Deferred Assets	0,000	Total Liabilities	394,551,000
Invest& other Assets	350,413,000	Retained Earnings	0,000
		Net Worth	330,319,000
Total Assets	724,870,000	Total Liab. & Equity	724,870,000
Total Assets (Previous Year)
P/L Statement as of	31.03.2014		(Unit: Indian Rs.)
Total Sales	792,257,000	Net Profit	32,535,000
Total Sales(Previous yr)	820,276,000	Net Profit(Prev.yr)	25,265,000

MIRA INFORM REPORT

Report Date :

16.07.2014

IDENTIFICATION DETAILS

Name :	POLY HOSE INDIA (RUBBER) PRIVATE LIMITED
Registered Office :	Plot No. F37-F42, SIPCOT Industrial Park, Pennalur, Sriperumbuthur Taluk, Tiruvallur – 602105, Tamilnadu
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	05.08.2004
Com. Reg. No.:	18-053900
Capital Investment / Paid-up Capital :	Rs.65.000 Millions
CIN No.: [Company Identification No.]	U25191TN2004PTC053900
TAN No.: [Tax Deduction & Collection Account No.]	CHEP07273A
PAN No.: [Permanent Account No.]	AADCP4173F
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Hydraulic hose, thermoplastic hose, polyamide/polyurethane tubings.
No. of Employees :	Information denied by management.

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 1300000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. General financial position of the company seems to be sound and healthy. Profitability of the company is fair. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. The company can be considered 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 – 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	01.11.2013

Rating Agency Name	CRISIL
Rating	Short term rating (A3)
Rating Explanation	Moderate degree of safety and high credit risk.
Date	01.11.2013

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 31-03-2014.

INFORMATION DENIED

Management is non corporative (91-44-26412830)

LOCATIONS

Registered Office :	Plot No. F37-F42, SIPCOT Industrial Park, Pennalur, Sriperumbuthur Taluk, Tiruvallur – 602105, Tamilnadu, India
Tel. No.:	91-44-26412830 / 26428116
Fax No.:	91-44-26428093
E-Mail :	export@polyhose.com accounts@rubberhose.in finance@rubberhose.in

DIRECTORS

As on 30.09.2013

Name :

Mr. Shabbir Yusufbhai Jamnagarwala

Designation :

Managing director

Address :

Basera Apartments, Flat No.2C, 46, Besant Avenue Road, Adyar, Chennai – 600 020, Tamilnadu, India

Date of Birth/Age :

16.04.1961

Date of Appointment :

05.08.2004

DIN No.:

00958177

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	U51909TN1988PTC016489	CLASSIC ENGINEERS (INDIA) PRIVATE LIMITED	Director	22/11/1988	22/11/1988	-	Active	NO
2	U25209TN1996PTC034257	POLYHOSE INDIA PRIVATE LIMITED	Managing director	24/01/1996	24/01/1996	-	Active	NO
3	U28939TN2004PTC053838	PLATINUM PROFILE (INDIA) PRIVATE LIMITED	Director	28/07/2004	28/07/2004	-	Active	NO
4	U25191TN2004PTC053900	POLY HOSE INDIA (RUBBER) PRIVATE LIMITED	Managing director	05/08/2004	05/08/2004	-	Active	NO
5	U63040TN2007PTC064135	AKASAKA HOSPITALITY PRIVATE LIMITED	Director	28/06/2007	28/06/2007	31/03/2010	Active	NO
6	U45200TN2008PTC066122	PH FOUNDATIONS PRIVATE LIMITED	Director	21/01/2008	21/01/2008	-	Active	NO
7	U24134TN2007PTC062123	ITAL PLASTIC COMPOUNDS PRIVATE LIMITED	Director	27/03/2008	27/03/2008	-	Active	NO
8	U28939TN2008PTC068438	POLYMAK TOOLS (INDIA) PRIVATE LIMITED	Director	02/07/2008	02/07/2008	-	Active	NO
9	U24131TN1961PLC004560	IND-ITAL CHEMICALS LIMITED	Director	30/09/2010	05/04/2010	-	Active	NO
10	U25203TN2010PTC076613	VECTOR HYDRAULICS PRIVATE LIMITED	Director	16/07/2010	16/07/2010	-	Active	NO
11	U34300PN2011PTC139272	POLYHOSE AUTOMOTIVE PRIVATE LIMITED	Director	20/04/2011	20/04/2011	-	Active	NO
12	U28112TN2011PTC081269	ADDLIFE COATING SYSTEMS PRIVATE LIMITED	Director	29/06/2011	29/06/2011	08/11/2012	Active	NO
13	U25209TN2012PTC089150	Kohyei Trading (India) Private Limited	Director	24/12/2012	24/12/2012	-	Active	NO

Name :

Mrs. Nafisa Shabbir Jamnagarwala

Designation :

Director

Address :

Basera Apartments, Flat No.2C, 46, Besant Avenue Road, Adyar, Chennai – 600 020, Tamilnadu, India

Date of Birth/Age :

11.02.1968

Date of Appointment :

05.08.2004

DIN No.:

01046231

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	U29119MH1999PTC119977	COMPOSITE HOSES AND HYDRAULICS PRIVATE LIMITED	Director	21/05/1999	21/05/1999	25/06/2009	Active	NO
2	U25191TN2004PTC053900	POLY HOSE INDIA (RUBBER) PRIVATE LIMITED	Director	05/08/2004	05/08/2004	04/06/2012	Active	NO

Name :

Mr. Shamsuddin Ali Asger

Designation :

Director

Address :

No.4, Old No.163, Santhome High Road, Mylapore, Chennai – 600 004, Tamilnadu, India

Date of Birth/Age :

13.11.1979

Date of Appointment :

05.08.2004

DIN No.:

01345230

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	U25209TN1996PTC034257	POLYHOSE INDIA PRIVATE LIMITED	Director	07/02/1998	07/02/1998	-	Active	NO
2	U28939TN2004PTC053838	PLATINUM PROFILE (INDIA) PRIVATE LIMITED	Director	28/07/2004	28/07/2004	-	Active	NO
3	U25191TN2004PTC053900	POLY HOSE INDIA (RUBBER) PRIVATE LIMITED	Director	05/08/2004	05/08/2004	-	Active	NO
4	U31300MH1988PTC048980	MEGA RUBBER PRODUCTS PRIVATE LIMITED	Director	24/01/2006	24/01/2006	-	Active	NO
5	U24134TN2007PTC062123	ITAL PLASTIC COMPOUNDS PRIVATE LIMITED	Director	22/01/2007	22/01/2007	-	Active	NO
6	U45200TN2008PTC066122	PH FOUNDATIONS PRIVATE LIMITED	Director	21/01/2008	21/01/2008	-	Active	NO
7	U24131TN1961PLC004560	IND-ITAL CHEMICALS LIMITED	Director	30/09/2010	05/04/2010	-	Active	NO
8	U25203TN2010PTC076613	VECTOR HYDRAULICS PRIVATE LIMITED	Director	16/07/2010	16/07/2010	-	Active	NO
9	U34300PN2011PTC139272	POLYHOSE AUTOMOTIVE PRIVATE LIMITED	Director	20/04/2011	20/04/2011	-	Active	NO
10	AAA-8196	FILLIN QUICK SERVICE RESTAURANT LLP	Designated Partner	01/03/2012	01/03/2012	-	Active	NO

Name :

Mr. Jonathan Wayne Pressler

Designation :

Nominee director

Address :

For Caterpillar Asia Pte Limited, Via Dante Aligheri, 8, Basiglo, Milan – 200080

Date of Birth/Age :

29.03.1962

Date of Appointment :

12.09.2007

DIN No.:

01759322

Name :

Mr. Michael Eugene Fuchs

Designation :

Nominee director

Address :

10809 Collett Drive Peoria IL 61615

Date of Birth/Age :

19.08.1955

Date of Appointment :

11.06.2008

DIN No.:

02311294

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2013

Names of Shareholders	No. of Shares
Y J Shabbir	30125
Polyhose India Private Limited, India	15000
Caterpillar Asia Pte Limited, Singapore	19875
Total	65000

Names of Allotees	No. of Shares
Y J Shabbir	494
Polyhose India Private Limited, India	11000
Caterpillar Asia Pte Limited, Singapore	5068
Total	16562

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2013

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	30.58
Bodies corporate	23.08
Directors or relatives of Directors	46.34
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Hydraulic hose, thermoplastic hose, polyamide/polyurethane tubings.
Products :	· PowerLine-1 (SAE J517-100R1 Type AT & DIN 20022 1SN/EN 853) · PowerLine-2 (SAE J517-100R2 Type AT & DIN 20022 2SN/EN 853) · PowerLine-3 (SAE J517-100R3 / EN 854 R3) · PowerLine-5 (SAE J517-100R5 ) · PowerLine-6 (SAE J517-100R6 / EN 854 R6) · SuperSpiral-4SH (DIN 20023 Part-2 (Type 4SH)) · SuperSpiral-4SP (DIN 20023 Part-1 (Type 4SP)) · SuperSpiral-100R13 (SAE J517-100R13)

GENERAL INFORMATION

No. of Employees :

Information denied by management.

Bankers :

· Indian Overseas Bank, Large Advances Branch, Irungattukottai – 602105, Tamilnadu, India

· Small Industries Development Bank Of India, Overseas Towers, 756l, Anna Salai, Chennai – 600002, Tamilnadu, India

· DBS Bank Limited, 806, Anna Salai, Chennai - 600002, Tamil Nadu, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2013	As on 31.03.2012
Long Term Borrowing:
Term Loan from Bank	121.130	161.530
Short Term Borrowing:
Loan repayable on demand	131.688	141.575
Total	252.818	303.105

Banking Relations :	--
Auditors :
Name :	Somasundaram and Associates Chartered Accountants
Address :	10E, Karthik Apartments, No. 46, Vijayaraghava Road, T. Nagar, Chennai – 600017, Tamilnadu, India
PAN.:	AASPS4961Q
Associates :	· Polyhose India Rubber Private Limited · Rapisarda Industries s.r.l. Italy · Avon Hydraulics and Engineering Private Limited · Polymak Tools India Private Limited · Polyhose Automotive Private Limited · Ital Plastic Compounds Private Limited · PH Hydraulics and Pneumatics · Caterpillar Group · Exitflex Associates
Subsidiaries:	· Vector Hydraulics Private Limited

CAPITAL STRUCTURE

As on 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
105000	Equity Shares	Rs.1000/-each	Rs. 105.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
65000	Equity Shares	Rs.1000/- each	Rs.65.000 Millions

Authorised Capital :

No. of Shares	Type	Value	Amount
105000	Equity Shares	Rs.1000/-each	Rs. 105.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
81562	Equity Shares	Rs.1000/- each	Rs.81.562 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	65.000	65.000	65.000
(b) Reserves & Surplus	265.319	232.783	207.519
(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)	330.319	297.783	272.519
(3) Non-Current Liabilities
(a) long-term borrowings	121.130	161.530	190.134
(b) Deferred tax liabilities (Net)	0.000	0.000	3.410
(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)	121.130	161.530	193.544
(4) Current Liabilities
(a) Short term borrowings	131.688	141.575	97.342
(b) Trade payables	104.513	90.947	54.017
(c) Other current liabilities	4.078	7.164	6.211
(d) Short-term provisions	33.142	14.834	10.936
Total Current Liabilities (4)	273.421	254.520	168.506
TOTAL	724.870	713.833	634.569
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	284.241	302.196	326.087
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	23.242	17.135	4.540
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	3.500	3.500	3.500
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	1.209	0.305	0.000
(e) Other Non-current assets
Total Non-Current Assets	312.192	323.136	334.127
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	82.574	134.484	146.860
(c) Trade receivables	267.313	217.184	111.575
(d) Cash and cash equivalents	7.347	2.502	9.816
(e) Short-term loans and advances	49.011	25.010	22.389
(f) Other current assets	6.433	11.517	9.802
Total Current Assets	412.678	390.697	300.442
TOTAL	724.870	713.833	634.569

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income
		Other Income
		TOTAL	792.257	820.276	537.876
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	741.649	786.257	512.084
	PROFIT BEFORE TAX		50.608	34.019	25.792
Less	TAX		18.073	8.754	5.544
	PROFIT AFTER TAX		32.535	25.265	20.248
	EARNINGS IN FOREIGN CURRENCY		589.821	682.595	-
	Earnings Per Share (Rs.)		2.11	-	-

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	4.11	3.08	3.76
Return on Total Assets (PBT/Total Assets}	(%)	7.25	4.91	4.12
Return on Investment (ROI) (PBT/Networth)		0.15	0.11	0.09
Debt Equity Ratio (Total Debt /Networth)		0.77	1.02	1.05
Current Ratio (Current Asset/Current Liability)		1.51	1.54	1.78

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	65.000	65.000	65.000
Reserves & Surplus	207.519	232.783	265.319
Net worth	272.519	297.783	330.319
long-term borrowings	190.134	161.530	121.130
Short term borrowings	97.342	141.575	131.688
Total borrowings	287.476	303.105	252.818
Debt/Equity ratio	1.055	1.018	0.765

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	537.876	820.276	792.257
		52.503	(3.416)

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	537.876	820.276	792.257
Profit	20.248	25.265	32.535
	3.76%	3.08%	4.11%

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

REVIEW OF OPERATIONS

The Company achieved a significant Net profit Growth of 49%, even though the revenue growth has been slightly (2%) lower during the year under review compared to the previous year. Considering the global slowdown during this period it is significant that your company was able to maintain at almost the same level on account of increased share in the domestic market and also to maintain at almost the same level on account of increased share in the domestic market and also due to higher foreign currency conversion rates on exports which were to your companies favour. The company was able to obtain better prices on import of same basic raw materials. Also,in the second half of the year your company was able to negotiate with DBS Bank for takeover of Working Capital and Term Loan facilities at much better interest rate. Consequently the banking operations were also moved from Indian Overseas Bank to DBS Bank. These moves also contributed to achieving higher Net Profit growth. The outlook is better for the current year, with an estimated growth of about 20% in sales revenue. The Company has also been working continuously with the joint Venture Partner (Catepillar Inc) to increase their off-take of hoses.

The company is in the process of continuously initiating various measures to optimize the costs, to improve the profitability.

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10458796	10/12/2013 *	60,000,000.00	DBS BANK LIMITED	806, ANNA SALAI, CHENNAI, Tamil Nadu - 600002, IND  IA	B94442423
2	10387256	10/12/2013 *	100,930,000.00	DBS BANK LIMITED	806, ANNA SALAI, CHENNAI, Tamil Nadu - 600002, IND  IA	B94443116
3	10387247	10/12/2013 *	295,500,000.00	DBS BANK LIMITED	806, ANNA SALAI, CHENNAI, Tamil Nadu - 600002, IND  IA	B94442712

* Date of charge modification

FIXED ASSETS

· Land (Leasehold)

· Roads and Development

· Buildings

· Plant and Machinery

· Electrical Equipments and Installations

· Office Equipments

· Computer and Accessories

· Furniture and Fixtures

· 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.60.22
UK Pound	1	Rs.102.79
Euro	1	Rs.81.95

INFORMATION DETAILS

Information Gathered by :	PDT
Analysis Done by :	KAR
Report Prepared by :	JGT

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	5
--PROFITABILIRY	1~10	5
--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	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		45

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.