MIRA INFORM REPORT

Report Date :

22.07.2014

IDENTIFICATION DETAILS

Name :	DHUPAR CHEMICALS PRIVATE LIMITED
Registered Office :	7/82, Tilak Nagar, Kanpur – 208 002, Uttar Pradesh
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	21.07.1986
Com. Reg. No.:	20-008045
Capital Investment / Paid-up Capital :	Rs.5.264 millions
CIN No.: [Company Identification No.]	U19116UP1986PTC008045
TAN No.: [Tax Deduction & Collection Account No.]	KNPD01062F
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Exporter and Importer of Leather Finishing Chemicals, Coating Chemicals Suitable for Metal, Wood, Paper and Textiles also engaged in manufacturing wide range of Shoe Soles in different Sizes and Designs in PU / TPR / PVC suitable for Ladies and Gents Footwear.
No. of Employees :	150 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Maximum Credit Limit :	USD 379000
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 decent. 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 condition.

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.

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 (PARTIAL DETAILS)

Name :	Mr. Gulshan Kumar Dhupar
Designation :	Director
Contact No.:	91-9838005959/ 9565882211
Date :	17.07.2014

LOCATIONS

Registered Office/ Head Office :	7/82, Tilak Nagar, Kanpur – 208 002, Uttar Pradesh, India
Tel. No.:	91-512-2542795/ 2526558/ 2557874/ 3042795/ 3042797
Fax No.:	91-512-2525664
E-Mail :	finishes@sancharnet.in dhupar@lw1.vsnl.net.in fashion@sancharnet.in finishes@vsnl.net prashant@dhuparchemicals.co.in dhupargk@vsnl.net rajivfcs@gmail.com gulshandhupar@dhuparchemicals.co.in
Website :	http://www.dhuparchemicals.co.in
Location :	Owned
Factory 1 :	Plot No.47, 60 (KA), 302, 355, 398, 413, 467 and 469, Village Sandila, Mandana-Bithoore Road, Paragana and Tehsil Bilhour, Kanpur, Uttar Pradesh, India
Factory 2 :	Plot No.8/6, Sector IV, Sahibabad Industrial Area, Ghaziabad – 201 301, Uttar Pradesh, India
Tel. No.:	91-120-2477289
Fax No.:	91-120-2477290
Branch Office :	Located at: · Kanpur · Agra · New Delhi · Sahibabad
Godown :	Located at: · Jajmau
Location :	Rented

DIRECTORS

AS ON 30.09.2013

Name :

Mr. Gulshan Kumar Dhupar

Designation :

Director

Address :

7/82, Tilak Nagar, Kanpur – 208 002, Uttar Pradesh, India

Date of Birth/Age :

14.06.1951

Date of Appointment :

21.07.1986

DIN No.:

00643995

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	U19116UP1986PTC008045	DHUPAR CHEMICALS PRIVATE LIMITED	Director	21-07-1986	21-07-1986	-	Active	NO
2	U55101DL1987PLC029682	CITIZEN MOTELS INTERNATIONAL LTD	Director	11-04-1997	11-04-1997	-	Active	NO
3	U74999UP1991PTC036914	FOREX PORTFOLIO FUND PRIVATE LIMITED	Director	01-04-2001	01-04-2001	-	Active	NO
4	U45201DL2000PTC107696	AVANTIKA DEVELOPERS PRIVATE LIMITED	Director	30-12-2005	30-12-2005	-	Active	NO
5	U70102UP2009PTC037936	GDS INFRASTRUCTURES PRIVATE LIMITED	Director	04-08-2009	04-08-2009	-	Active	NO
6	U74899DL1982PTC013062	GEE KAY EXHIBITORS PRIVATE LIMITED	Director	30-09-2010	26-09-2009	28-05-2012	Active	NO

Name :

Mr. Hariom Thapar

Designation :

Director

Address :

KE-80, New Kavi Nagar, Ghaziabad – 201 002, Uttar Pradesh, India

Date of Birth/Age :

07.10.1944

Date of Appointment :

29.09.2007

DIN No.:

00717629

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	U17117UP1989PTC010644	D S ACCESSORIES AND FOOTWEAR PRIVATE LIMITED	Director	01-09-2005	01-09-2005	-	Active	NO
2	U19116UP1986PTC008045	DHUPAR CHEMICALS PRIVATE LIMITED	Director	29-09-2007	01-11-2006	-	Active	NO

Name :

Mr. Kritika Dhupar

Designation :

Director

Address :

7/82, Tilak Nagar, Kanpur – 208 002, Uttar Pradesh, India

Date of Birth/Age :

17.01.1988

Date of Appointment :

29.09.2007

DIN No.:

01396961

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	U19116UP1986PTC008045	DHUPAR CHEMICALS PRIVATE LIMITED	Director	29-09-2007	02-10-2006	-	Active	NO
2	U55101DL1987PLC029682	CITIZEN MOTELS INTERNATIONAL LTD	Director	27-09-2008	24-12-2007	-	Active	NO

Name :

Mrs. Renu Dhupar

Designation :

Director

Address :

7/82, Tilak Nagar, Kanpur – 208 002, Uttar Pradesh, India

Date of Birth/Age :

18.11.1960

Date of Appointment :

29.09.2007

DIN No.:

00638743

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	U24290UP1986PTC007968	D.K. POLYMERS PRIVATE LIMITED	Director	17-12-1993	17-12-1993	-	Active	NO
2	U45201DL2000PTC107696	AVANTIKA DEVELOPERS PRIVATE LIMITED	Director	28-03-2006	28-03-2006	-	Active	NO
3	U19116UP1986PTC008045	DHUPAR CHEMICALS PRIVATE LIMITED	Director	29-09-2007	01-11-2006	-	Active	NO
4	U18109DL1990PTC148292	NAVAL EXPORTERS AND IMPORTERS PRIVATE LIMITED	Director	21-11-2006	21-11-2006	31-01-2011	Active	NO

Name :

Mr. Siddhartha Dhupar

Designation :

Director

Address :

7/82, Tilak Nagar, Kanpur – 208 002, Uttar Pradesh, India

Date of Birth/Age :

16.02.1987

Date of Appointment :

29.09.2007

DIN No.:

01396887

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	U19116UP1986PTC008045	DHUPAR CHEMICALS PRIVATE LIMITED	Director	29-09-2007	02-10-2006	-	Active	NO
2	U74999UP1991PTC036914	FOREX PORTFOLIO FUND PRIVATE LIMITED	Director	01-06-2010	01-06-2010	-	Active	NO

Name :

Mr. Rita Dhupar

Designation :

Director

Address :

7/82, Tilak Nagar, Kanpur – 208 002, Uttar Pradesh, India

Date of Birth/Age :

10.11.1959

Date of Appointment :

01.04.2008

DIN No.:

00643944

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	U55101DL1987PLC029682	CITIZEN MOTELS INTERNATIONAL LTD	Director	11-04-1997	11-04-1997	-	Active	NO
2	U24290UP1986PTC007968	D.K. POLYMERS PRIVATE LIMITED	Director	27-09-1997	27-09-1997	-	Active	NO
3	U17117UP1989PTC010644	D S ACCESSORIES AND FOOTWEAR PRIVATE LIMITED	Director	01-01-2006	01-01-2006	-	Active	NO
4	U19116UP1986PTC008045	DHUPAR CHEMICALS PRIVATE LIMITED	Director	01-04-2008	01-04-2008	-	Active	NO

Name :

Ms. Ankita Khatri

Designation :

Director

Address :

7/84, Tilak Nagar, Kanpur – 208 002, Uttar Pradesh, India

Date of Birth/Age :

09.03.1989

Date of Appointment :

01.12.2011

DIN No.:

05139360

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2013

Names of Shareholders	No. of Shares
Gulshan Kumar Dhupar	76600
Kunti Devi Dhupar	11000
Hari Om Thapar	1000
Ashwani Kumar Srivastawa	500
Pravesh Thapar	2000
Dwarika Nath Arora	1900
Kali Shankar Pandey	2900
Rita Dhupar	37100
Madhu Dhupar	48460
Swarn Kanta Uppal	1000
Seema	2000
Ashu Uppal	500
Isha Dhupar	32900
Kushagra Dhupar	500
Kishan Kumar Yadav	1000
Rakesh Kumar Kunti Devi HUF	37318
Anil Kumar Kunti Devi HUF	5000
Shiv Shankar Pandey	4200
Gulshan Kumar Kunti Devi HUF	56394
Sri Ram Dhupar HUF	62000
Alok Kumar Pandey	4000
Forex Portfolio Fund Private Limited, India	20000
Sri Ram Anil Kumar HUF	2024
Sri Ram Anil Rakesh HUF	1518
Sri Ram Gulshan Anil Rakesh HUF	2024
Sri Ram Kunti Anil HUF	2024
Sri Ram Rakesh Kumar HUF	2024
Poonam Rastogi	1900
Madhu Kushagra HUF	7980
Gulshan Rita HUF	96742
Madhu Siddharth HUF	1500
Madhu Kushagra Siddhartha HUF	100
Pallavi Dhupar Beneficiary Trust	100
Kratika Dhupar Marriage Beneficiary Trust	100
Mani Dhupar Marriage Beneficiary Trust	100
Total	526408

AS ON 30.09.2013

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	3.80
Directors or relatives of directors	96.20
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, Exporter and Importer of Leather Finishing Chemicals, Coating Chemicals Suitable for Metal, Wood, Paper and Textiles also engaged in manufacturing wide range of Shoe Soles in different Sizes and Designs in PU / TPR / PVC suitable for Ladies and Gents Footwear.

Products :

Item Code No. (ITC Code)	38099900
Product Description	Leather Finish
Item Code No. (ITC Code)	32021000
Product Description	Leather Syntans
Item Code No. (ITC Code)	39069090
Product Description	Acrylic Binder

Exports :

Countries :

• Bangladesh
• China
• Pakistan

Imports :

Countries :

• China
• Korea
• Germany

Terms :

Selling :

L/C and Credit

Purchasing :

L/C and Credit

PRODUCTION STATUS (AS ON 31.03.2011):

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Tanning Chemicals	In Kgs./ Ltrs.	Not Applicable	Not Ascertained	4295580.400
Corbouys (Packing Materials)	In Pcs.	Not Applicable	Not Ascertained	56739.000

GENERAL INFORMATION

Customers :

• Manufacturers
• Traders

No. of Employees :

150 (Approximately)

Bankers :

· Axis Bank Limited, Trishul, 3^rd Floor, Opposite Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad – 380 006, Gujarat, India

• ICICI Bank Limited
• Punjab National Bank, Swaroop Nagar, Kanpur – 208 002, Uttar Pradesh, India
• Standard Chartered Bank
• State Bank of India, Arya Nagar
• Punjab National Bank, Swaroop Nagar Branch, Swaroop Nagar, Kanpur – 208 002, Uttar Pradesh, India

Facilities :

Secured Loans	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
SHORT TERM BORROWINGS
Punjab National Bank (C/C) A/c (Secured against hypothecation of stock in trade)	0.000	34.479
Axis Bank Limited (A/c-912030018866868) C/C ST	45.309	0.000
Axis Bank Limited (A/c-912030018867887) C/C BD	24.213	0.000
State Bank of India O/D A/c-32413178603 Naveen Market	1.784	0.000
Total	71.306	34.479

Banking Relations :	--
Auditors :
Name :	Rajendra Neeti and Associates Chartered Accountants
Address :	Raj Maya, H. No.112/292, Swaroop Nagar, Kanpur – 208 002, Uttar Pradesh, India
Tel. No.:	91-512-3046198
PAN No.:	AABFR0609K

CAPITAL STRUCTURE

AS ON 30.09.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs.10.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
526408	Equity Shares	Rs.10/- each	Rs.5.264 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	5.264	5.264	5.264
(b) Reserves & Surplus	89.560	79.303	69.609
(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)	94.824	84.567	74.873
(3) Non-Current Liabilities
(a) Long-term borrowings	0.000	0.000	0.000
(b) Deferred tax liabilities (Net)	0.308	0.369	0.554
(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)	0.308	0.369	0.554
(4) Current Liabilities
(a) Short term borrowings	167.949	116.296	109.202
(b) Trade payables	58.276	52.359	58.394
(c) Other current liabilities	9.486	9.129	9.942
(d) Short-term provisions	24.468	18.919	17.939
Total Current Liabilities (4)	260.179	196.703	195.477
TOTAL	355.311	281.639	270.904
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	48.249	39.334	35.325
(ii) Intangible Assets	0.006	0.010	0.017
(iii) Capital work-in-progress	0.000	1.808	2.135
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.450	0.450	0.450
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.184	0.302	0.302
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	48.889	41.904	38.229
(2) Current assets
(a) Current investments	13.534	22.309	14.450
(b) Inventories	93.623	85.014	80.780
(c) Trade receivables	150.505	110.027	116.478
(d) Cash and cash equivalents	25.425	4.665	1.905
(e) Short-term loans and advances	5.588	2.591	2.828
(f) Other current assets	17.747	15.129	16.234
Total Current Assets	306.422	239.735	232.675
TOTAL	355.311	281.639	270.904

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Revenue from Operations	512.209	453.015	428.117
		Other Income	4.028	4.432	2.856
		TOTAL (A)	516.237	457.447	430.973
Less	EXPENSES
		Cost of Material Consumed	NA	267.779	263.502
		Purchase of stock-in-trade	NA	88.216	63.249
		Increase/ Decrease in Stock	NA	(9.566)	(1.727)
		Employee Benefits Expenses	NA	13.760	10.905
		Other Expenses	NA	62.558	61.485
		TOTAL (B)	NA	422.747	397.414
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		NA	34.700	33.559
Less	FINANCIAL EXPENSES (D)		NA	15.294	14.526
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		NA	19.406	19.033
Less/ Add	DEPRECIATION/ AMORTISATION (F)		NA	5.039	4.640
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		NA	14.367	14.393
Less	TAX (H)		NA	4.672	4.824
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		10.256	9.695	9.569
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		70.456	60.761	51.192
	BALANCE CARRIED TO THE B/S		80.712	70.456	60.761
	EARNINGS IN FOREIGN CURRENCY		14.885	13.066	9.798
	IMPORTS
		Raw Material	25.906	28.004	26.139
		Stock-in-trade	28.075	20.034	13.750
		Capital Goods	0.000	2.953	0.000
	TOTAL IMPORTS		53.981	50.991	39.889
	Earnings / (Loss) Per Share (Rs.)		19.48	18.42	18.18

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	1.99	2.12	2.22
Net Profit Margin (PBT/Sales)	(%)	NA	3.17	3.36
Return on Total Assets (PBT/Total Assets}	(%)	NA	5.14	5.36
Return on Investment (ROI) (PBT/Networth)		NA	0.17	0.19
Debt Equity Ratio (Total Debt/Networth)		1.77	1.38	1.46
Current Ratio (Current Asset/Current Liability)		1.18	1.22	1.19

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	5.264	5.264	5.264
Reserves & Surplus	69.609	79.303	89.560
Share Application money pending allotment	0.000	0.000	0.000
Net worth	74.873	84.567	94.824
Long-term borrowings	0.000	0.000	0.000
Short term borrowings	109.202	116.296	167.949
Total borrowings	109.202	116.296	167.949
Debt/Equity ratio	1.458	1.375	1.771

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)
Revenue from Operations	428.117	453.015	512.209
		5.816	13.067

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(INR in Mlns)	(INR in Mlns)	(INR in Mlns)
Revenue from Operations	428.117	453.015	512.209
Profit	9.569	9.695	10.256
	2.24%	2.14%	2.00%

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	--
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	No
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	No

Unsecured Loans	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
SHORT TERM BORROWINGS
From Related Party
Shareholders, Directors and their Relatives	96.643	79.193
Inter-corporate Deposits	0.000	2.624
Total	96.643	81.817

FIXED ASSETS:

Tangible Assets

· Land and Building

· Furniture and Fixtures

· Office Equipments

· Plant and Machinery

· Motor Vehicles

Intangible Assets

· Computer Software

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.60.19
UK Pound	1	Rs.102.87
Euro	1	Rs.81.48

INFORMATION DETAILS

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

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		46

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.