1. Summary Information

		Country	INDIA
Company Name	PRAKASH RETAIL PRIVATE LIMITED	Principal Name 1	Mr. Suryaprakash Kappettu
Status	Moderate	Principal Name 2	Mr. Kappettu Ashok Kumar
		Registration #	08-022698
Street Address	Ambalpady Post, Udupi, Udupi – 576 103, Karnataka
Established Date	26.08.1997	SIC Code	--
Telephone#	91-820-2523842	Business Style 1	Retailer
Fax #	Not Available	Business Style 2	--
Homepage	www.prlindia.in	Product Name 1	Home Appliances
# of employees	400 (Approximately)	Product Name 2	Kitchen Appliances
Paid up capital	Rs.33,670,000/-	Product Name 3	--
Shareholders	Directors Or Relatives of Directors – 100%	Banking	Syndicate Bank
Public Limited Corp.	No	Business Period	17 Years
IPO	No	International Ins.	--
Public Enterprise	No	Rating	B (32)
Related Company
Relation	Country	Company Name	CEO
Related Party	India	Prakash Business Solutions (India) Private Limited	--
Note	--

2. Summary Financial Statement

Balance Sheet as of	31.03.2013		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	104,193,000	Current Liabilities	329,987,000
Inventories	339,095,000	Long-term Liabilities	188,757,000
Fixed Assets	147,972,000	Other Liabilities	9,057,000
Deferred Assets	423,000	Total Liabilities	527,801,000
Invest& other Assets	2,310,000	Retained Earnings	32,522,000
		Net Worth	66,192,000
Total Assets	593,993,000	Total Liab. & Equity	593,993,000
Total Assets (Previous Year)	547,261,000
P/L Statement as of	31.03.2013		(Unit: Indian Rs.)
Sales	1,910,699,000	Net Profit	3,067,000
Sales(Previous yr)	1,581,658,000	Net Profit(Prev.yr)	2,560,000

MIRA INFORM REPORT

Report Date :

27.06.2014

IDENTIFICATION DETAILS

Name :	PRAKASH RETAIL PRIVATE LIMITED (w.e.f. 24.09.2008)
Formerly Known As :	PRAKASH ELECTRIC COMPANY PRIVATE LIMITED (w.e.f. 23.04.1999) PRAKASH ELECTRIC COMPANY (UDUPI) PRIVATE LIMITED
Registered Office :	Ambalpady Post, Udupi, Udupi – 576 103, Karnataka
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	26.08.1997
Com. Reg. No.:	08-022698
Capital Investment / Paid-up Capital :	Rs.33.670 Millions
CIN No.: [Company Identification No.]	U52335KA1997PTC022698
TAN No.: [Tax Deduction & Collection Account No.]	BLRPO3095B
PAN No.: [Permanent Account No.]	AAACCP1251H
Legal Form :	Private Limited Liability Company
Line of Business :	Retailer of Home Appliances and Kitchen Appliances.
No. of Employees :	400 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (32)

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

Maximum Credit Limit :	USD 260000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The rating is constrained on account of company’s moderate financial risk profile and low profitability levels of the company. However, trade relations are fair. Business is active. Payment terms are slow but correct. The company can be considered for business dealing with some caution.

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	ICRA
Rating	Term Loans “BB”
Rating Explanation	Inadequate degree of safety and high credit risk
Date	June, 2013

Rating Agency Name	ICRA
Rating	ST Fund Based Limits “A4+”
Rating Explanation	Minimal degree of safety and very high credit risk
Date	June, 2013

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

INFORMATION PARTED BY

Name :	Mr. Keshav
Designation :	Senior Accountant
Contact No.:	91-9740071337
Date :	26.06.2014

LOCATIONS

Registered Office :	Ambalpady Post, Udupi, Udupi – 576103, Karnataka, India
Tel. No.:	91-820-2523842
Mobile No.:	91-9740071337 (Mr. Keshav)
Fax No.:	Not Available
E-Mail :	headoffice@prlindia.in keshav@prlindia.com
Website :	www.prlindia.in
Location :	Owned

DIRECTORS

As on: 30.09.2013

Name :

Mr. Suryaprakash Kappettu

Designation :

Managing Director

Address :

‘Pancharatna’, Kappettu, Ambalpady Udupi, Karnataka, India

Date of Birth/Age :

29.07.1955

Date of Appointment :

30.04.1999

PAN No.:

AEEPK0484Q

DIN No.:

00047204

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	U52335KA1997PTC022698	PRAKASH RETAIL PRIVATE LIMITED	Managing director	30/04/1999	30/04/1999	-	Active	NO
2	U72200KA2000PTC027862	PRAKASH BUSINESS SOLUTIONS (INDIA) PRIVATE LIMITED	Managing director	27/09/2000	27/09/2000	-	Active	NO
3	U91110KA2003GAP031546	UDUPI CHAMBER OF COMMERCE AND INDUSTRY	Director	30/08/2004	30/08/2004	-	Active	NO

Name :

Mr. Ashok Kumar Kappettu

Designation :

Director

Address :

‘Pancharatna’, Kappettu, Ambalpady Udupi, Karnataka, India

Date of Birth/Age :

06.03.1956

Date of Appointment :

26.08.1997

DIN No.:

00083517

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	U52335KA1997PTC022698	PRAKASH RETAIL PRIVATE LIMITED	Director	26/08/1997	26/08/1997	-	Active	NO
2	U72200KA2000PTC027862	PRAKASH BUSINESS SOLUTIONS (INDIA) PRIVATE LIMITED	Director	27/09/2000	27/09/2000	-	Active	NO

Name :

Mr. Harish Moodanidamboor

Designation :

Director

Address :

‘Pancharatna’, Kappettu, Ambalpady Udupi, Karnataka, India

Date of Birth/Age :

22.08.1960

Date of Appointment :

26.08.1997

DIN No.:

00083524

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	U52335KA1997PTC022698	PRAKASH RETAIL PRIVATE LIMITED	Director	26/08/1997	26/08/1997	-	Active	NO
2	U72200KA2000PTC027862	PRAKASH BUSINESS SOLUTIONS (INDIA) PRIVATE LIMITED	Director	27/09/2000	27/09/2000	-	Active	NO

Name :

Mr. Suresh Moodanidamboor

Designation :

Director

Address :

‘Pancharatna’, Kappettu, Ambalpady Udupi, Karntaka, India

Date of Birth/Age :

09.10.1964

Date of Appointment :

26.08.1997

PAN No.:

AJEPS2614M

DIN No.:

00098635

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	U52335KA1997PTC022698	PRAKASH RETAIL PRIVATE LIMITED	Director	26/08/1997	26/08/1997	-	Active	NO
2	U72200KA2000PTC027862	PRAKASH BUSINESS SOLUTIONS (INDIA) PRIVATE LIMITED	Director	27/09/2000	27/09/2000	-	Active	NO

Name :

Mr. Rajesh Moodnidamboor

Designation :

Director

Address :

‘Pancharatna’, Kappettu, Ambalpady Udupi, Karnataka, India

Date of Birth/Age :

12.05.1971

Date of Appointment :

26.08.1997

PAN No.:

ABTPR1410M

DIN No.:

00098641

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	U52335KA1997PTC022698	PRAKASH RETAIL PRIVATE LIMITED	Director	26/08/1997	26/08/1997	-	Active	NO
2	U72200KA2000PTC027862	PRAKASH BUSINESS SOLUTIONS (INDIA) PRIVATE LIMITED	Director	27/09/2000	27/09/2000	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Keshav
Designation :	Senior Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 30.09.2013

Names of Shareholders	No. of Shares	%age
Suryaprakash Kappettu	1003720	24.38
Ashok Kumar Kappettu	778468	18.91
Harish Moodanidamboor	812450	19.73
Suresh Moodanidamboor	775682	18.84
Rajesh Moodnidamboor	746713	18.14
Total	4117033	100.00

Equity Share Break up (Percentage of Total Equity)

As on: 30.09.2013

Category	Percentage
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Retailer of Home Appliances and Kitchen Appliances.

Products :

Product Description	ITC Code
Refrigerators	8418
Air Conditioners	8415
Washing Machine	8450

Terms :

Selling :

Cash and Credit (30 Days)

Purchasing :

Cash and Credit (30 Days)

GENERAL INFORMATION

Customers :

Retailers

No. of Employees :

400 (Approximately)

Bankers :

· Syndicate Bank, Catholic Center, Syndicate Towers, Udupi - 576101, Karnataka, India

· Axis Bank, Simax Commercial Complex, 1^st Floor, court Road, Udupi - 576101, Karnataka, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2013	As on 31.03.2012
Long Term Borrowings
Rupee term loans from banks	92.714	108.338
Short Term Borrowings
Working capital loans from banks	72.180	69.813
Total	164.894	178.151

Banking Relations :

--

Auditors :

Name :

Prabhajith and Company

Chartered Accountants

Address :

D No.9-4-133C, Sri Ganesh Prabh, Tenkapet, Udupi – 576101, Karnataka, India

PAN No.:

ACQPB4328Q

Enterprises which are

owned, or have significant

influence of or are partners

with Key management personnel and their relatives :

· Prakash Business Solutions (India) Private Limited

CIN No.: U72200KA2000PTC027862

· Prakash Engineering Company

PAN No.: AACFP2778C

· Prakash Timbers

PAN No.: AACFP2781K

· Prakash Industries

CAPITAL STRUCTURE

As on: 30.09.2013

Authorised Capital:

No. of Shares	Type	Value	Amount
4900000	Equity Shares	Rs.10/- each	Rs.49.000 Millions

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
4117033	Equity Shares	Rs.10/- each	Rs.41.170 Millions

As on: 31.03.2013

Authorised Capital:

No. of Shares	Type	Value	Amount
4900000	Equity Shares	Rs.10/- each	Rs.49.000 Millions

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
3367033	Equity Shares	Rs.10/- each	Rs.33.670 Millions

FINANCIAL DATA

[All figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	33.670	18.670
(b) Reserves & Surplus	32.522	29.454
(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)	66.192	48.124
(3) Non-Current Liabilities
(a) long-term borrowings	113.240	138.889
(b) Deferred tax liabilities (Net)	0.000	0.635
(c) Other long term liabilities	2.500	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	115.740	139.524
(4) Current Liabilities
(a) Short term borrowings	75.517	72.466
(b) Trade payables	324.678	274.719
(c) Other current liabilities	2.809	1.951
(d) Short-term provisions	9.057	10.477
Total Current Liabilities (4)	412.061	359.613
TOTAL	593.993	547.261
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	137.665	156.184
(ii) Intangible Assets	10.307	7.940
(iii) Capital work-in-progress	0.651	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.001	0.001
(c) Deferred tax assets (net)	0.423	0.000
(d) Long-term Loan and Advances	32.257	27.851
(e) Other Non-current assets	1.658	1.860
Total Non-Current Assets	182.962	193.836
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	339.095	295.817
(c) Trade receivables	29.020	21.387
(d) Cash and cash equivalents	10.435	18.208
(e) Short-term loans and advances	12.156	7.913
(f) Other current assets	20.325	10.100
Total Current Assets	411.031	353.425
TOTAL	593.993	547.261

SOURCES OF FUNDS		31.03.2011
SHAREHOLDERS FUNDS
1] Share Capital		18.670
2] Share Application Money		0.000
3] Reserves & Surplus		26.794
4] (Accumulated Losses)		0.000
NETWORTH		45.464
LOAN FUNDS
1] Secured Loans		164.384
2] Unsecured Loans		28.046
TOTAL BORROWING		192.430
DEFERRED TAX LIABILITIES		0.475
TOTAL		238.369
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		130.058
Capital work-in-progress		0.000
GOODWILL		4.824
INVESTMENT		0.000
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	211.865
	Sundry Debtors	14.575
	Cash & Bank Balances	15.326
	Other Current Assets	33.466
	Loans & Advances	5.073
Total Current Assets		280.305
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	167.255
	Other Current Liabilities	0.000
	Provisions	9.563
Total Current Liabilities		176.818
Net Current Assets		103.487
MISCELLANEOUS EXPENSES		0.000
TOTAL		238.369

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	1910.699	1581.658	1256.712
		Other Income (Miscellaneous Income)	8.156	8.422	5.611
		TOTAL	1918.855	1590.080	1262.323
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	1864.757	1545.011	1232.816
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		54.098	45.069	29.507
Less	INTEREST		24.970	21.363	12.387
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		29.128	23.706	17.120
Less/ Add	DEPRECIATION/ AMORTISATION		24.504	19.934	12.971
	PROFIT BEFORE TAX		4.624	3.772	4.149
Less	TAX		1.557	1.212	1.004
	PROFIT AFTER TAX		3.067	2.560	3.145
	Earnings Per Share (Rs.)		0.74	0.62	1.68

Particulars	31.03.2014
Sales Turnover (Approximately)	1260.000
	(Due to received less order)

The above information has been parted by Mr. Keshav (Senior Accountant).

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	0.16	0.16	0.25
Net Profit Margin (PBT/Sales)	(%)	0.24	0.24	0.33
Return on Total Assets (PBT/Total Assets}	(%)	0.78	0.69	1.01
Return on Investment (ROI) (PBT/Networth)		0.07	0.08	0.09
Debt Equity Ratio (Total Debt/Networth)		2.85	4.39	8.12
Current Ratio (Current Asset/Current Liability)		1.00	0.98	1.59

FINANCIAL ANALYSIS

[All figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)
Share Capital	18.670	33.670
Reserves & Surplus	29.454	32.522
Net worth	48.124	66.192
long-term borrowings	138.889	113.240
Short term borrowings	72.466	75.517
Total borrowings	211.355	188.757
Debt/Equity ratio	4.392	2.852

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	1256.712	1581.658	1910.699
		25.857	20.804

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	1256.712	1581.658	1910.699
Profit	3.145	2.560	3.067
	0.25%	0.16%	0.16%

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

UNSECURED LOAN

(Rs. In Millions)

Particulars	As on 31.03.2013	As on 31.03.2012
Long Term Borrowings
Loans and advances from related parties	20.526	30.552
Short Term Borrowings
Loans and advances from related parties	3.337	2.652
Total	23.863	33.204

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10437553	05/07/2013	64,200,000.00	SYNDICATE BANK	CATHOLIC CENTER, SYNDICATE TOWERS, UDUPI - 576101, Karnataka, INDIA	B79924262
2	10365386	10/07/2012	4,475,000.00	HDFC BANK LIMITED	HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI - 400013, Maharashtra, INDIA	B43594738
3	10299769	10/07/2013 *	19,975,000.00	HDFC BANK LIMITED	HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI - 400013, Maharashtra, INDIA	B83796490
4	10301643	30/06/2011	30,300,000.00	SYNDICATE BANK	CATHOLIC CENTER, SYNDICATE TOWERS, UDUPI - 576101, Karnataka, INDIA	B18592907
5	10253210	11/10/2010	10,000,000.00	SYNDICATE BANK	CATHOLIC CENTER, SYNDICATE TOWERS, UDUPI - 576101, Karnataka, INDIA	A98123870
6	10243870	17/02/2011 *	55,000,000.00	SYNDICATE BANK	CATHOLIC CENTER, SYNDICATE TOWERS, UDUPI - 576101, Karnataka, INDIA	B09852427
7	10234387	11/06/2010	500,000.00	SYNDICATE BANK	CATHOLIC CENTER, SYNDICATE TOWERS, UDUPI - 576101, Karnataka, INDIA	A90595570
8	10110688	09/06/2008	10,000,000.00	SYNDICATE BANK	CATHOLIC CENTER, SYNDICATE TOWERS, UDUPI - 576101, Karnataka, INDIA	A41409756
9	10044722	12/04/2007 *	22,400,000.00	SYNDICATE BANK	CATHOLIC CENTER, SYNDICATE TOWERS, UDUPI - 576101, Karnataka, INDIA	A13481213
10	80011158	22/02/2014 *	124,250,000.00	SYNDICATE BANK	CATHOLIC CENTER, SYNDICATE TOWERS, UDUPI - 576101, Karnataka, INDIA	B98802945

* Date of charge modification

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.60.16
UK Pound	1	Rs.102.23
Euro	1	Rs.82.04

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	KAR
Report Prepared by :	VNK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--CREDIT LINES	1~10	4
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		32

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.