MIRA INFORM REPORT

Report Date :

19.07.2014

IDENTIFICATION DETAILS

Name :	A L A CHEMICALS PRIVATE LIMITED
Registered Office :	C-5, Chemical Zone, M.I.D.C., Kalyan Badlapur Road, Ambernath (West), Navi Mumbai – 421 501, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	20.09.1966
Com. Reg. No.:	11-013577
Capital Investment / Paid-up Capital :	Rs.81.351 millions
CIN No.: [Company Identification No.]	U24110MH1966PTC013577
TAN No.: [Tax Deduction & Collection Account No.]	MUMA25629C
PAN No.: [Permanent Account No.]	AAACA3957H
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Trader of Chemicals.
No. of Employees :	15 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 64000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Exist
Comments :	Subject is an established company having moderate track record. As claimed by Mr. Avdhesh, Export department executive that subject company “A L A Chemicals Private Limited” has been taken over by “Lalitha Chem Industries Private Limited” from January 2014. Further he also confirmed that company is active and undertaking manufacturing activities at Ambernath with the same company name (A L A Chemicals Private Limited). Mr. Subray Sadashiv Hosmane and Mrs. Veena Subray Hosmane are new directors of the subject company. As per available financial record of 2013, the rating reflects company’s weak financial risk profile marked by huge accumulated losses incurred over a year and below average financial performance of the company. However, trade relations are fair. Business is active. Payments are reported to be slow. The company can be considered for business dealing with some 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

NEWS

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 with 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: B- (Suspended)
Rating Explanation	Risk-prone-credit-quality and carries very high credit risk.
Date	December 12, 2013

Rating Agency Name	CRISIL
Rating	Short-Term Rating: A4 (Suspended)
Rating Explanation	Minimal degree of safety and very high credit risk.
Date	December 12, 2013

Reason for suspension: Absence of adequate information.

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 PARTED BY (GENERAL DETAILS)

Name :	Mr. Avdhesh
Designation :	Export Department Executive
Contact No.:	91-250-2392428
Date :	18.07.2014

LOCATIONS

Registered Office/ Factory :	C-5, Chemical Zone, M.I.D.C., Kalyan Badlapur Road, Ambernath (West), Navi Mumbai – 421 501, Maharashtra, India
Tel. No.:	91-251-2610045/ 2392428/ 29
Fax No.:	91-251-2610046
E-Mail :	export@subray.com devika.patil@gmail.com subray10@gmail.com
Website :	http://www.alachemicals.in
Location :	Owned

DIRECTORS

AS ON 30.09.2013

Name :

Mrs. Neela Satish Anand

Designation :

Director

Address :

Vikas Park Bunglow No.2, Jalpankhi Society, Juhu Tara Road, Juhu, Mumbai – 400 049, Maharashtra, India

Date of Birth/Age :

25.09.1928

Date of Appointment :

15.04.2003

DIN No.:

01119534

PAN No.:

AAIPA4930D

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	U24110MH1965PTC013136	S C A PRIVATE LIMITED	Director	25-02-1965	25-02-1965	-	Active	NO
2	U51900MH1991PTC064594	SHAKIL TRADING PRIVATE LIMITED	Director	31-01-1992	31-01-1992	-	Strike off	NO
3	U51900MH1992PTC064834	PRATYANKAR TRADING PRIVATE LIMITED	Director	31-01-1992	31-01-1992	-	Strike off	NO
4	U74999MH1994PTC082938	POLYMER COMPOUNDS HINDUSTAN PRIVATE LIMITED	Director	15-11-1994	15-11-1994	-	Strike off	NO
5	U24110MH1966PTC013577	A L A CHEMICALS PRIVATE LIMITED	Director	15-04-2003	15-04-2003	-	Active	NO
6	U51101MH2012PTC230099	A. L.A CHEMICALS TRADING PRIVATE LIMITED	Director	23-04-2012	23-04-2012	-	Active	NO

Name :

Krishnamoorthy Panchapakesan Iyer

Designation :

Director

Address :

A-2/605, Indralok, Swami Devprakash Gardens, Sai Kansai Road, Near Jatale Hospital, Ambernath, Navi Mumbai – 421 501, Maharashtra, India

Date of Birth/Age :

09.06.1964

Date of Appointment :

30.09.2013

DIN No.:

01581488

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	U74920MH2005PTC153021	LEADLINE SYSTEMS PRIVATE LIMITED	Director	14-09-2005	14-09-2005	-	Active	NO
2	U74920MH2005PTC158760	RADIANT SERVICES PRIVATE LIMITED	Director	09-01-2006	09-01-2006	-	Active	NO
3	U74920MH2006PTC158777	DOMINANT SYSTEMS PRIVATE LIMITED	Director	10-01-2006	10-01-2006	-	Active	NO
4	U74920MH2005PTC158852	UNMATCHED SYSTEMS PRIVATE LIMITED	Director	13-01-2006	13-01-2006	-	Active	NO
5	U74920MH2006PTC159205	ACCOUNTABLE SECURITY SYSTEMS PRIVATE LIMITED	Director	24-01-2006	24-01-2006	-	Active	NO
6	U72900PN2005PTC020799	RESERGENT INFOTECK PRIVATE LIMITED	Director	20-02-2008	20-02-2008	-	Active	NO
7	U32100MH1981PLC024132	CMS - DITL LIMITED	Director	30-09-2011	04-03-2011	06-03-2012	Active	NO
8	U74999MH1985PLC035833	MAILTEK SERVICES INDIA LIMITED	Director	30-09-2011	04-03-2011	06-03-2012	Active	NO
9	U72200MH1989PLC254746	SYSTIME COMPUTERS LIMITED	Director	30-09-2011	04-03-2011	06-03-2012	Active	NO
10	U24110MH1966PTC013577	A L A CHEMICALS PRIVATE LIMITED	Director	30-09-2013	28-06-2013	-	Active	NO

Name :

Mr. Anant Mallinath Kamat

Designation :

Director

Address :

203, Building No.2, Dattani Village, Sandor, Vasai (West), Thane – 401 201, Maharashtra, India

Date of Birth/Age :

18.10.1959

Date of Appointment :

30.09.2013

DIN No.:

06631414

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	U24110MH1966PTC013577	A L A CHEMICALS PRIVATE LIMITED	Director	30-09-2013	25-07-2013	-	Active	NO

Name :

Mr. Subray Sadashiv Hosmane

Designation :

Additional Director

Address :

Bungalow No.1, Suvilas, Dewan and Shah Housing Enclave, Ambadi Road, Vasai (West), Thane – 401 202, Maharashtra, India

Date of Birth/Age :

10.06.1952

Date of Appointment :

06.03.2014

DIN No.:

00047127

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	U24100MH1990PTC059381	LALITHA CHEM INDUSTRIES PRIVATE LIMITED	Director	19-03-1993	19-03-1993	-	Active	NO
2	U24100MH1988PTC050207	SUBRAY CATALCHEM PRIVATE LIMITED	Director	21-09-1994	21-09-1994	-	Active	NO
3	U24110MH1966PTC013577	A L A CHEMICALS PRIVATE LIMITED	Additional director	06-03-2014	06-03-2014	-	Active	NO

Name :

Mrs. Veena Subray Hosmane

Designation :

Director

KEY EXECUTIVES

Name :	Mr. Avdhesh
Designation :	Export Department Executive

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2013

Names of Shareholders (Equity Shares)	No. of Shares
Kavita Anil Anand	909000
Anchem Inc., USA	68600
Neela S. Anand	14040
Lalitha Chem Industries Private Limited, India	1643460
Total	2635100

Names of Shareholders (3% Cumulative Redeemable Preference Shares)	No. of Shares
Lalitha Chem Industries Private Limited, India	250000
Total	250000

Names of Shareholders (7% Cumulative Redeemable Preference Shares)	No. of Shares
Lalitha Chem Industries Private Limited, India	300000
Total	300000

AS ON 30.09.2013

Equity Share Breakup	Percentage of Holding
Category
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	2.60
Bodies corporate	62.37
Directors or relatives of directors	35.03
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Trader of Chemicals.

Products :

Item Code No. (ITC Code)	98020000
Product Description	Laboratory Chemicals

Imports :

Products :

· Raw Materials

Countries :

· Sri Lanka

Terms :

Selling :

Depend

Purchasing :

Depend

PRODUCTION STATUS [AS ON 31.03.2011]:

INSTALLED CAPACITY AND ACTUAL PRODUCTION

(As certified by Management)

Particulars	Unit	Installed Capacity	Actual Production
Polyester/Polymer Additives and Stabilisers	M.T.	10000	4587

Installed Capacity is bases on maximum utilisation of capacity as certified by the management on which the auditors have placed reliance, without verification, this being a technical matter.

Actual Production includes quantities produced for captive consumption.

GENERAL INFORMATION

No. of Employees :

15 (Approximately)

Bankers :

· Syndicate Bank, Valiv Naka, Jayesh Building, Valiv, Vasai (R) – 401 208, Maharashtra, India

· Bank of India, Bhayander (East) Branch

· Union Bank of India, Mahalaxmi Branch, Mahalaxmi Chambers, 22, Bhulabhai Desai Road, Mumbai – 400 026, Maharashtra, India

· Syndicate Bank, 26-A, Sir Pherozeshah Mehta Road, Fort, Mumbai – 400 001, Maharashtra, India

Facilities :

Secured Loans	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
LONG-TERM BORROWINGS
Deferred payment for acquisition of fixed assets (Secured against Fixed Asset of the Company and to be repaid on monthly equal instalments)	5.477	3.233
SHORT-TERM BORROWINGS
Loans repayable on demand from banks (Collaterally Secured by equitable mortgage of Factory Land and Building at plot C 5, A 13, B 13, Ambernath) [Loan Guaranteed by Director C.Y 61.021 millions (P.Y 55.850 millions)]	73.273	61.021
Total	78.750	64.254

Banking Relations :	--
Auditors 1 :
Name :	N.R. Patel and Company Chartered Accountants
Address :	51, Lewis Villa, St. Francis Road, Santacruz (West), Mumbai – 400 054, Maharashtra, India
PAN No.:	AAGPP5135M
Auditors 2 :
Name :	Mr. Keshav Chaubey Chartered Accountant
Address :	Bhayander (East), Thane, Maharashtra, India

CAPITAL STRUCTURE

AS ON 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
2650000	Equity Shares	Rs.10/- each	Rs.26.500 millions
285000	3% Cumulative Redeemable Preference Shares	Rs.100/- each	Rs.28.500 millions
300000	7% Cumulative Redeemable Preference Shares	Rs.100/- each	Rs.30.000 millions
	Total		Rs.85.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2635100	Equity Shares	Rs.10/- each	Rs.26.351 millions
250000	3% Cumulative Redeemable Preference Shares	Rs.100/- each	Rs.25.000 millions
300000	7% Cumulative Redeemable Preference Shares	Rs.100/- each	Rs.30.000 millions
	Total		Rs.81.351 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	81.351	81.351	81.351
(b) Reserves & Surplus	(65.323)	(22.508)	(23.830)
(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)	16.028	58.843	57.521
(3) Non-Current Liabilities
(a) Long-term borrowings	94.498	70.570	73.284
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) Long-term provisions	15.012	16.077	16.289
Total Non-current Liabilities (3)	109.510	86.647	89.573
(4) Current Liabilities
(a) Short term borrowings	73.273	61.021	55.849
(b) Trade payables	101.397	76.846	86.924
(c) Other current liabilities	12.950	13.161	12.773
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	187.620	151.028	155.546
TOTAL	313.158	296.518	302.640
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	33.192	35.125	41.062
(ii) Intangible Assets	4.346	5.476	0.000
(iii) Capital work-in-progress	10.140	10.140	10.140
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	2.671	2.647	2.636
(e) Other Non-current assets	13.775	14.456	11.766
Total Non-Current Assets	64.124	67.844	65.604
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	129.879	137.941	125.466
(c) Trade receivables	69.533	53.812	81.451
(d) Cash and cash equivalents	26.330	14.634	25.565
(e) Short-term loans and advances	0.080	0.124	0.361
(f) Other current assets	23.212	22.163	4.193
Total Current Assets	249.034	228.674	237.036
TOTAL	313.158	296.518	302.640

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	510.765	481.612	499.767
		Other Income
		TOTAL	510.765	481.612	499.767
Less	EXPENSES
		Office Expenses	553.580	480.290	496.075
		Administrative Expenses
		Advertising Expenses
		TOTAL	553.580	480.290	496.075
	PROFIT / (LOSS) BEFORE TAX		(42.815)	1.322	3.692
Less	TAX		0.000	0.000	0.000
	PROFIT / (LOSS) AFTER TAX		(42.815)	1.322	3.692
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		NA	(27.085)	(30.777)
	BALANCE CARRIED TO THE B/S		NA	NA	(27.085)
	EARNINGS IN FOREIGN CURRENCY
		Export of Goods (at F.O.B Value)	32.930	46.497	11.337
		Commission Earnings	0.727	15.434	0.252
	TOTAL EARNINGS		33.657	61.931	11.589
	IMPORTS
		Raw Materials	NA	NA	65.522
	TOTAL IMPORTS		NA	NA	65.522
	Earnings / (Loss) Per Share (Rs.)		(16.25)	0.50	1.40

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	(8.38)	0.27	0.74
Return on Total Assets (PBT/Total Assets}	(%)	(14.13)	0.46	1.26
Return on Investment (ROI) (PBT/Networth)		(2.67)	0.02	0.06
Debt Equity Ratio (Total Debt/Networth)		(10.47)	2.24	2.24
Current Ratio (Current Asset/Current Liability)		1.33	1.51	1.52

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(INR in Mlns.)	(INR in Mlns.)	(INR in Mlns.)
Share Capital	81.351	81.351	81.351
Reserves & Surplus	-23.830	-22.508	-65.323
Share Application money pending allotment	0.000	0.000	0.000
Net worth	57.521	58.843	16.028
Long-term borrowings	73.284	70.570	94.498
Short term borrowings	55.849	61.021	73.273
Total borrowings	129.133	131.591	167.771
Debt/Equity ratio	2.245	2.236	10.467

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(INR in Mlns)	(INR in Mlns)	(INR in Mlns)
Total Income	499.767	481.612	510.765
		(3.633)	6.053

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(INR in Mlns)	(INR in Mlns)	(INR in Mlns)
Total Income	499.767	481.612	510.765
Profit	3.692	1.322	(42.815)
	0.74%	0.27%	(8.38%)

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

LITIGATION DETAILS:

Case Details

Bench:-Bombay

Lodging No.:-

ITXAL/1411/2010

Filing Date:-

31.05.2010

Reg. No.:-

ITXA/200/2011

Reg. Date:-

10.02.2011

Petitioner:-	The Commissioner of Income Tax – 5	Respondent:-	A. L. A. Chemicals Private Limited
Petn. Adv.:-	Suresh Kumar	Resp. Adv.:-	--

District:-

Mumbai

Bench:-	Division
Status:-	Admitted	Category:-	Tax Appeals

Last Date:-

20.11.2012

Stage:-

For Admission – Fresh

Last Coram:-

Hon’ble Shri Justice J.P. Dev Adhar Hon’ble Shri Justice M.S. Sanklecha

Act :-

Income Tax Act, 1961

Under Section:-

260A

INDEX OF CHARGES:

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10422847	17/04/2013	5,000,000.00	UNION BANK OF INDIA	MAHALAXMI BRANCH, MAHALAXMI CHAMBERS, 22, BHULABHAI DESAI ROAD, MUMBAI, MAHARASHTRA - 400026, INDIA	B74097114
2	10400072	19/12/2012	4,500,000.00	UNION BANK OF INDIA	MAHALAXMI BRANCH, MAHALAXMI CHAMBERS, 22, BHULABHAI DESAI ROAD, MUMBAI, MAHARASHTRA - 400026, INDIA	B66925637
3	10400857	19/12/2012	5,000,000.00	UNION BANK OF INDIA	MAHALAXMI BRANCH, MAHALAXMI CHAMBERS, 22, BHULABHAI DESAI ROAD, MUMBAI, MAHARASHTRA - 400026, INDIA	B66927187
4	10136561	26/11/2008	2,225,000.00	UNION BANK OF INDIA	MAHALAXMI BRANCH, MAHALAXMI CHAMBERS, 22, BHULABHAI DESAI ROAD, MUMBAI, MAHARASHTRA - 400026, INDIA	A53759387
5	10016733	15/03/2010 *	133,852,000.00	SYNDICATE BANK	26-A, SIR PHEROZESHAH MEHTA ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA	A84666163
6	10007965	31/05/2006	8,100,000.00	UNION BANK OF INDIA LIMITED	MAHARASHTRA, INDIA	A01654342
7	10008191	31/05/2006	15,000,000.00	UNION BANK OF INDIA LIMITED	MAHARASHTRA, INDIA	A01653591
8	80010063	08/08/2009 *	133,852,000.00	UNION BANK OF INDIA - LEAD BANK OF UNION BANK CONS ORTIUM	MAHALAXMI BRANCH, MAHALAXMI CHAMBERS, 22, BHULABHAI DESAI ROAD, MUMBAI, MAHARASHTRA - 400026, INDIA	A70120530

* Date of charge modification

Unsecured Loans	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
LONG-TERM BORROWINGS
Deposits from others	1.620	0.620
Loans and advances from others	87.401	66.717
Total	89.021	67.337

Note:

The registered Office of the company has been shifted from Basement, Mahalaxmi Chambers, 22, Bhulabhai Desai Road, Mumbai – 400 026, Maharashtra to the present address w.e.f. 04.06.2005.

FIXED ASSETS:

· Land

· Buildings

· Plant and Equipment

· Factory Equipments

· Other Pollution Reduction Equipment

· Furniture and Fixtures

· Vehicles

· Office Equipment

· Computer

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.60.33
UK Pound	1	Rs.103.18
Euro	1	Rs.81.58

INFORMATION DETAILS

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

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	-
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--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		26

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.