MIRA INFORM REPORT

Report Date :

23.06.2014

IDENTIFICATION DETAILS

Name :	CONNELL BROS COMPANY (INDIA) PRIVATE LIMITED
Registered Office :	1^st Floor, Hamilton House, 8, J.N. Heredia Marg, Ballard Estate, Mumbai – 400038, Maharashtra
Country :	India
Financials (as on) :	31.12.2012
Date of Incorporation :	18.05.1999
Com. Reg. No.:	11-119904
Capital Investment / Paid-up Capital :	Rs.53.900 Millions
CIN No.: [Company Identification No.]	U24110MH1999PTC119904
TAN No.: [Tax Deduction & Collection Account No.]	MUMC07445E MUMC10633A MUMC11797C
PAN No.: [Permanent Account No.]	AAACC9611L
Legal Form :	Private Limited Liability Company
Line of Business :	Trader and Distributor of Chemicals, Food Ingredient, etc.
No. of Employees :	110 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

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

Maximum Credit Limit :	USD 2200000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Management has not filed its latest financial i.e. December 2013 with the government department. As per available financial of December 2012, the company seems to performing good. Financial position of the company is sound. No borrowings recorded by the company. Trade relations are reported as fair. Business is active. Payment terms are reported to be usually correct. The company can be considered normal 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.

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 (GENERAL DETAILS)

Name :	Mr. B Fernandez
Designation :	Export Manager
Contact No.:	91-22-66138300
Date :	17.06.2014

LOCATIONS

Registered / Corporate Office :	1^st Floor, Hamilton House, 8, J.N. Heredia Marg, Ballard Estate, Mumbai – 400038, Maharashtra, India
Tel. No.:	91-22-22815060/ 66644483/ 66138300/ 66138301
Mobile No.:	91-9820199553 (Ms. Yogita Parab)
Fax No.:	91-22-22818060/ 33818330
E-Mail :	mpathare@cbcind.com admin@abcind.com vrodrigu@cbcind.com ymathur@cbcind.com cbcin.admin@wecocbc.com milan.pathare@wecocbc.com
Website :	http://www.connellbrothers.com http://www.clocind.com
Area :	1600 sq. ft.
Location :	Owned
Warehouse:	Located at: Bhiwandi Panvel Delhi
Branch Office 1 :	3^rd Floor, Bansilal Building, 9/15, Homy Mody Street, Fort, Mumbai - 400023, Maharashtra, India
Tel. No.:	91-22-22815060
Fax No.:	91-22-22818060
E-Mail :	ymathur@cbcind.com
Area:	3500 sq. ft.
Location :	Rented
Branch Office 2 :	1112, Kailash Building, 26, Kasturba Gandhi Marg, New Delhi - 110001, India
Tel. No.:	91-11-23713691
Fax No.:	91-11-23713692
Area:	1200 sq. ft.
Location :	Rented
Branch Office 3 :	3607, Competent House, Middle Circle, Connaught Place, New Delhi – 110001, India
Tel. No.:	91-11-43509348
Fax No.:	91-11-43509340
Overseas Office:	15 Kamal Ataturk Avenue, Bashati Condominium, Apartment # C/11-12, Road # 17, Banani, Dhaka – 1213, Bangladesh
Tel. No.:	88 044 746 50728
Fax No.:	88 044 768 02517
Area:	500 sq. ft.
Location :	Rented

DIRECTORS

As on 28.05.2013

Name :

Theodore Eliot III

Designation :

Managing Director

Address :

401, Golden Gate Avenue, Belvedere, California 94920, United States of America

Date of Birth/Age :

17.10.1953

Date of Appointment :

18.05.1999

DIN No.:

02231188

Name :

Mr. Parthiv Tanil Kilachand

Designation :

Director

Address :

95, Nepean Sea Road, Malabar Hill, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

27.03.1967

Date of Appointment :

18.05.1999

DIN No.:

00005516

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	L21308GJ1989PLC012743	GUJARAT POLY AVX ELECTRONICS LIMITED	Director	11/03/1992	11/03/1992	-	Active	NO
2	U51900MH1994PTC078663	RASAYANI TRADERS PRIVATE LIMITED	Director	30/06/1994	30/06/1994	-	Active	NO
3	L24100MH1955PLC009663	POLYCHEM LIMITED	Managing director	27/07/2012	03/12/1996	-	Active	NO
4	U51900MH1997PTC105312	HIGHCLASS TRADING PRIVATE LIMITED	Director	01/08/1997	01/08/1997	-	Active	NO
5	U17110MH1950PLC007979	GINNERS AND PRESSERS LIMITED	Director	14/08/1997	14/08/1997	-	Active	NO
6	U24110MH1999PTC119904	CONNELL BROS COMPANY (INDIA) PRIVATE LIMITED	Director	18/05/1999	18/05/1999	-	Active	NO
7	U65920MH1983PTC031628	RO-AN INVESTMENTS PRIVATE LIMITED	Director	14/12/2001	14/12/2001	-	Dissolved	NO
8	U65920MH1983PTC031612	VIRSUN INVESTMENTS PRIVATE LIMITED	Director	14/12/2001	14/12/2001	-	Active	NO
9	U65920MH1983PTC031611	MASUMA TRADECORP PRIVATE LIMITED	Director	14/12/2001	14/12/2001	-	Active	NO
10	U51900MH1995PLC087924	SUN TAN TRADING COMPANY LIMITED	Director	12/04/2004	12/04/2004	-	Active	NO
11	U51220MH2000PTC129864	GOURMET LOGISTICS PRIVATE LIMITED	Director	10/03/2006	10/03/2006	21/06/2010	Active	NO
12	U74999MH2004PTC175698	JSM CORPORATION PRIVATE LIMITED	Director	29/09/2007	12/06/2007	-	Active	NO
13	U74140MH2004PTC175689	H R CAFE INDIA PRIVATE LIMITED	Director	29/09/2007	24/08/2007	-	Amalgamated	NO
14	U41000MH2010PLC208418	ENVIRONMENTAL PURIFIERS LIMITED	Director	29/09/2010	29/09/2010	07/12/2010	Active	NO
1	L21308GJ1989PLC012743	GUJARAT POLY AVX ELECTRONICS LIMITED	Director	11/03/1992	11/03/1992	-	Active	NO

Name :

Mr. Yogesh Shivraj Mathur

Designation :

Whole-Time Director

Address :

13, Padam-1, 4B, Peddar Road, Mumbai – 400026, Maharashtra, India

Date of Birth/Age :

22.11.1950

Date of Appointment :

10.05.2011

PAN No.:

AACPM2435M

DIN No.:

01059977

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	U15549PN1995PTC014548	LOKRANJAN BREWERIES PRIVATE LIMITED	Director	03/12/1996	03/12/1996	-	Active	NO
2	U65990MH1983PTC031629	SHAJA INVESTMENTS PRIVATE LIMITED	Director	20/12/2002	20/12/2002	-	Active	NO
3	U24110MH1999PTC119904	CONNELL BROS COMPANY (INDIA) PRIVATE LIMITED	Whole-time director	10/05/2011	10/05/2011	-	Active	NO

Name :

Mr. Nandish Tanil Kilachand

Designation :

Director

Address :

95, Nepean Sea Road, Malabar Hill, Kilachand House, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

23.07.1972

Date of Appointment :

18.05.1999

DIN No.:

00005530

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	U32109MH1993PTC072980	CAPUCHIM ELECTRONICS PRIVATE LIMITED	Director	15/02/1994	15/02/1994	-	Dissolved	NO
2	U24110MH1999PTC119904	CONNELL BROS COMPANY (INDIA) PRIVATE LIMITED	Director	18/05/1999	18/05/1999	-	Active	NO
3	U17110MH1950PLC007979	GINNERS AND PRESSERS LIMITED	Director	03/06/1999	03/06/1999	-	Active	NO
4	U51900MH1994PTC078663	RASAYANI TRADERS PRIVATE LIMITED	Director	30/08/1999	30/08/1999	-	Active	NO
5	U51900MH1995PLC087924	SUN TAN TRADING COMPANY LIMITED	Director	31/08/1999	31/08/1999	-	Active	NO
6	U65920MH1983PTC031612	VIRSUN INVESTMENTS PRIVATE LIMITED	Director	14/12/2001	14/12/2001	-	Active	NO
7	U65920MH1983PTC031611	MASUMA TRADECORP PRIVATE LIMITED	Director	14/12/2001	14/12/2001	-	Active	NO
8	U65920MH1983PTC031628	RO-AN INVESTMENTS PRIVATE LIMITED	Director	14/12/2001	14/12/2001	-	Dissolved	NO
9	U15100MH1947PTC005588	TULSI GLOBAL LOGISTICS PRIVATE LIMITED	Whole-time director	01/06/2013	20/12/2002	-	Active	NO
10	U41000MH2010PLC208418	ENVIRONMENTAL PURIFIERS LIMITED	Director	29/09/2010	29/09/2010	07/12/2010	Active	NO
11	L24100MH1955PLC009663	POLYCHEM LIMITED	Director	17/09/2012	27/07/2012	-	Active	NO

Name :

Mr. John Pomeroy Thacher

Designation :

Director

Address :

2482 Spring Mountain Road, St. Helena, California 94574, United States of America

Date of Birth/Age :

01.10.1954

Date of Appointment :

11.02.2008

DIN No.:

02353500

Name :

Jeffrey Francis Streblow

Designation :

Director appointed in casual vacancy

Address :

5137, Coombsville Road, NAPA, California 94558, United States of America

Date of Birth/Age :

04.06.1959

Date of Appointment :

17.05.2009

DIN No.:

02682288

Name :

Eugene Scott James Allan Graddy

Designation :

Director

Address :

11, Ardmore PK, #13-01, Ardmore PK, Singapore – 259957

Date of Birth/Age :

23.05.1961

Date of Appointment :

25.05.2011

DIN No.:

03583392

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	U24110MH1999PTC119904	CONNELL BROS COMPANY (INDIA) PRIVATE LIMITED	Director	25/05/2011	10/05/2011	-	Active	NO

KEY EXECUTIVES

Name :	Mr. B Fernandez
Designation :	Export Manager
Name :	Mr. Milan Pathare
Designation :	Finance Department

MAJOR SHAREHOLDERS

As on 28.05.2013

Names of Shareholders	No. of Shares	% of Holding
Rasayani Traders Private Limited, India	269500	50.00
Wilbur Ellis Company, USA	269500	50.00
Total	539000	100.00

Equity Share Break up (Percentage of Total Equity)

As on 28.05.2013

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	50.00
Bodies corporate	50.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Trader and Distributor of Chemicals, Food Ingredient, etc.

Products :

Product Description	Item Code No. (ITC Code)
Coating Chemicals	2931
Industrial Chemicals	3404
Food	3504
Personal Care	3910

Exports :

Products :

Chemicals, Food Ingredient, etc.

Countries :

· USA

· Pakistan

· Bangladesh

Imports :

Products :

Chemicals, Food Ingredient, etc.

Countries :

· USA

· European Countries

Terms :

Selling :

L/C and Credit

Purchasing :

L/C and Credit

GENERAL INFORMATION

No. of Employees :

110 (Approximately)

Bankers :

· ABN Amro Bank N.V., 7^th Floor, Sakhar Bhavan, Nariman Road, Mumbai – 400021, Maharashtra, India

· Royal Bank of Scotland, Fort, Mumbai, Maharashtra, India

· ABN Amro Bank N.V., 14, Veer airman Road, Mumbai – 400023, Maharashtra, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.12.2012	As on 31.12.2011
Short Term Borrowings
Loans repayable on demand from banks	0.000	63.000
Total	0.000	63.000

Banking Relations :

--

Auditors :

Name :

Lovelock and Lewes

Chartered Accountants

Address :

252, Veer Savarkar Marg, Shivaji Park, Dadar, Mumbai – 400028, Maharashtra, India

PAN No.:

AABFL5878L

Ultimate Holding Company:

• Wilbur Ellis Company, USA

Fellow Subsidiary Company:

· Connell Bros. Company Limited

· Connell Bros. Company Philipinas Incorporation

· Connell Bros. Company (HK) Limited

· Connell Bros. Company (Singapore) PTE Limited

· Connell Bros. (Shanghai) Company Limited

· PT. Connell Bersaudara Chemindo

· Connell Bros. Company (Vietnam)

· Connell Bros. Company (Taiwan) Limited

Subsidiary :

• Connell Bros Company Bangladesh (Private) Limited

Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :

• Sun Tan Trading Company Limited

CIN No.: U51900MH1995PLC087924

• Ginners and Pressers Limited

CIN No.: U17110MH1950PLC007979

• Polychem Limited

CIN No.: L24100MH1955PLC009663

• Ramal Charities

CAPITAL STRUCTURE

As on 28.05.2013

Authorised Capital:

No. of Shares	Type	Value	Amount
800000	Equity Shares	Rs.100/- each	Rs.80.000 Millions

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
539000	Equity Shares	Rs.100/- each	Rs.53.900 Millions

FINANCIAL DATA

[All figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.12.2012	31.12.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	53.900	53.900
(b) Reserves & Surplus	489.048	326.775
(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)	542.948	380.675
(3) Non-Current Liabilities
(a) long-term borrowings	0.000	0.000
(b) Deferred tax liabilities (Net)	0.000	0.000
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	0.000	0.000
(4) Current Liabilities
(a) Short term borrowings	0.000	63.000
(b) Trade payables	177.539	150.696
(c) Other current liabilities	29.503	32.011
(d) Short-term provisions	0.000	0.000
Total Current Liabilities (4)	207.042	245.707
TOTAL	749.990	626.382
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	46.298	42.991
(ii) Intangible Assets	0.391	0.510
(iii) Capital work-in-progress	0.000	0.498
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.700
(c) Deferred tax assets (net)	11.287	11.308
(d) Long-term Loan and Advances	21.968	12.716
(e) Other Non-current assets	4.750	9.300
Total Non-Current Assets	84.694	78.023
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	223.736	229.004
(c) Trade receivables	329.751	255.278
(d) Cash and cash equivalents	96.548	47.697
(e) Short-term loans and advances	13.717	15.280
(f) Other current assets	1.544	1.100
Total Current Assets	665.296	548.359
TOTAL	749.990	626.382

SOURCES OF FUNDS		31.12.2010
SHAREHOLDERS FUNDS
1] Share Capital		53.900
2] Share Application Money		0.000
3] Reserves & Surplus		189.902
4] (Accumulated Losses)		0.000
NETWORTH		243.802
LOAN FUNDS
1] Secured Loans		45.000
2] Unsecured Loans		0.000
TOTAL BORROWING		45.000
DEFERRED TAX LIABILITIES		0.000
TOTAL		288.802
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		43.575
Capital work-in-progress		0.284
INVESTMENT		0.700
DEFERREX TAX ASSETS		5.969
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	212.954
	Sundry Debtors	220.002
	Cash & Bank Balances	98.338
	Other Current Assets	0.968
	Loans & Advances	118.635
Total Current Assets		650.897
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000
	Current Liabilities	243.788
	Provisions	168.835
Total Current Liabilities		412.623
Net Current Assets		238.274
MISCELLANEOUS EXPENSES		0.000
TOTAL		288.802

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.12.2012	31.12.2011	31.12.2010
	SALES
		Income	1688.633	1493.776	1278.390
		Other Income	NA	NA	NA
		TOTAL	NA	NA	NA
Less	EXPENSES
		TOTAL	NA	NA	NA
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		251.825	215.261	196.620
Less	INTEREST		1.604	7.476	2.630
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		250.221	207.785	193.990
Less	DEPRECIATION/ AMORTISATION		8.426	6.052	6.340
	PROFIT BEFORE TAX		241.795	201.733	187.650
Less	TAX		79.521	64.861	62.610
	PROFIT AFTER TAX		162.274	136.872	125.040
	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		281.474	144.602	101.690
	APPROPRIATIONS
		Proposed Dividend on Equity Shares	0.000	0.000	59.820
		Tax on Dividend on Equity Shares	0.000	0.000	9.710
		Transfer to General Reserve	0.000	0.000	12.600
	BALANCE CARRIED TO THE B/S		443.748	281.474	144.600
	EARNINGS IN FOREIGN CURRENCY		224.455	146.680	107.020
	Earnings Per Share (Rs.)		301.06	253.94	231.99

KEY RATIOS

PARTICULARS		31.12.2012	31.12.2011	31.12.2010
Net Profit Margin (PBT/Sales)	(%)	14.32	13.50	14.68
Return on Total Assets (PBT/Total Assets}	(%)	32.73	32.86	31.53
Return on Investment (ROI) (PBT/Networth)		0.45	0.53	0.77
Debt Equity Ratio (Total Debt /Networth)		0.00	0.17	0.18
Current Ratio (Current Asset/Current Liability)		3.21	2.23	1.58

FINANCIAL ANALYSIS

[All figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.12.2011	31.12.2012
	(Rs. In Millions)	(Rs. In Millions)
Share Capital	53.900	53.900
Reserves & Surplus	326.775	489.048
Net worth	380.675	542.948
long-term borrowings	0.000	0.000
Short term borrowings	63.000	0.000
Total borrowings	63.000	0.000
Debt/Equity ratio	0.165	0.000

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.12.2010	31.12.2011	31.12.2012
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	1278.390	1493.776	1688.633
		16.848	13.045

NET PROFIT MARGIN

Net Profit Margin	31.12.2010	31.12.2011	31.12.2012
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	1278.390	1493.776	1688.633
Profit	125.040	136.872	281.474
	9.78%	9.16%	16.67%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	Yes
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	-----
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
21]	Market information	-----
22]	Litigations that the firm / promoter involved in	-----
23]	Banking Details	Yes
24]	Banking facility details	No
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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10029028	29/10/2008 *	150,000,000.00	ABN AMRO BANK N. V.	7th Floor, Sakhar Bhavan, Nariman Point, Mumbai - 400021, Maharashtra, India	A49438963

*Date of modification Charges

FIXED ASSETS:

· Leasehold Improvements

· Plant and Machinery

· Laboratory Equipment’s

· Office Equipment’s

· Furniture and Fixtures

· Computers

· Vehicles

· 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.60.28
UK Pound	1	Rs.102.77
Euro	1	Rs.82.12

INFORMATION DETAILS

Information Gathered by :	PDT
Analysis Done by :	DIV
Report Prepared by :	VNK

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	6
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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		47

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.