1. Summary Information

		Country	India
Company Name	CHIRIPAL INDUSTRIES LIMITED	Principal Name 1	Mr. Vedprakash Devkinandan Chiripal
Status	Satisfactory	Principal Name 2	Mr. Ambalal Chhitabhai Patel
		Registration #	04-010634
Street Address	Survey No.199, 200/1 and 200/2, Saijpur-Gopalpur, Pirana Road, Piplej, Ahmedabad – 382405, Gujarat
Established Date	27.04.1988	SIC Code	--
Telephone#	91-79-25710231	Business Style 1	Manufacturer
Fax #	91-79-25711755	Business Style 2	--
Homepage	www.chiripalgroup.com	Product Name 1	Textiles
# of employees	Not Divulged	Product Name 2	Yarns
Paid up capital	Rs. 243,489,160/-	Product Name 3	--
Shareholders	Foreign holdings 8.33%, Bodies corporate 13.79%, Directors or relatives of directors 64.35%, Other top fifty shareholders 5.29%, Others 8.24%	Banking	State Bank of India
Public Limited Corp.	No	Business Period	26 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	Ba (47)
Related Company
Relation	Country	Company Name	CEO
Subsidiaries	--	Vishal Fabrics Private Limited	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2013		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	1,604,787,000	Current Liabilities	741,392,000
Inventories	1,155,617,000	Long-term Liabilities	2,352,723,000
Fixed Assets	2,751,746,000	Other Liabilities	365,529,000
Deferred Assets	0,000	Total Liabilities	3,459,644,000
Invest& other Assets	413,845,000	Retained Earnings	2,222,862,000
		Net Worth	2,466,351,000
Total Assets	5,925,995,000	Total Liab. & Equity	5,925,995,000
Total Assets (Previous Year)	6,108,724,000
P/L Statement as of	31.03.2013		(Unit: Indian Rs.)
Sales	6,623,771,000	Net Profit	136,955,000
Sales(Previous yr)	6,239,949,000	Net Profit(Prev.yr)	95,019,000

MIRA INFORM REPORT

Report Date :

08.03.2014

IDENTIFICATION DETAILS

Name :	CHIRIPAL INDUSTRIES LIMITED (w.e.f. 13.04.2006)
Formerly Known As :	CHIRIPAL PETROCHEMICALS LIMITED (w.e.f. 07.01.2004) CHIRIPAL TWISTING AND SIZING LIMITED (w.e.f. 23.10.2003) CHIRIPAL TWISTING AND SIZING PRIVATE LIMITED
Registered Office :	Survey No.199, 200/1 and 200/2, Saijpur-Gopalpur, Pirana Road, Piplej, Ahmedabad – 382405, Gujarat
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	27.04.1988
Com. Reg. No.:	04-010634
Capital Investment / Paid-up Capital :	Rs. 243.489 Millions
CIN No.: [Company Identification No.]	U17110GJ1988PLC010634
TAN No.: [Tax Deduction & Collection Account No.]	AHMC00373C
PAN No.: [Permanent Account No.]	AAACC8513B
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of wide range of textile value chain viz. Partially Oriented Yarn (POY), Fully Drawn Yarn (FDY), Draw Twisted Yarn (DTY), Texturising Yarn, Polar Fleece Fabrics, Special Coated Fabrics and processing of fabrics, embroidery etc.
No. of Employees :	Information declined by the management

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 9865000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Exist
Comments :	Subject is an established company having satisfactory track record. The company has achieved fair profitability from its operation during the financial year 2013. Trade relations are fair. Business is active. Payment terms are reported to be usually correct. The company can be considered for business dealing 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 – December 1, 2013

Country Name	Previous Rating (30.09.2013)	Current Rating (01.12.2013)
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

The worst is over for India’s economy with gross domestic product likely to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s Analytics. Concerns over the rupee and current account deficit are under control, said the agency. Ratings firm Crisil has forecast 6 % growth for 2014/15 up from the estimated 4.8 % for 2013/14.  Total economic growth, infrastructure bottlenecks and lack of transparency and consistency in foreign direct investment policies seem to have taken a toll on India’s attractiveness as an investment destination, says an Ernst & Young survey.  Projects with FDI component fell 16.4 % across the globe in 2012 from the previous year.  The drop in India was steeper at 21 %. State run carrier Air India is doling out free tickets to its 24000 employees, even as it expects to incur a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn. 550000 number of jobs generated across India in 2013, a fall of 0.4 % as compared to with a year earlier. The National Capital Region has a one-fourth share in total jobs created, according to a study by industry lobby group Assochem, Banks, real estate, automobile and telecommunications sectors are showing a rise of job creation. $ 805 mn investments by venture capital firms in India during 2013, registering a drop of about 18 % over the previous year. The Information Technology and IT-Enabled Services Industry retained its status as the favourable venture capital investors in 2013. Pakistan has temporarily banned gold imports for the second time in six months, as it tries to stem smuggling into India. India’s import duty on gold is 10 % and curbs on purchases have dried up legal imports into what used to be the world’s biggest bullion buyers. The World Gold Council puts the amount smuggled into India at upto 200 tonnes in 2013. The Reserve Bank of India has proposed that unclaimed bank deposits estimated to be about Rs 35000 mn be used for education and awareness among depositors.  According to the plan, deposits that have not been claimed for at least 10 years will be transferred to the scheme.

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 DECLINED

MANAGEMENT NON-COOPERATIVE

[CONTACT NO.: 91-79-25714568]

LOCATIONS

Registered Office/ Factory :	Survey No.199, 200/1 and 200/2 Saijpur Gopalpur Pirana Road, Piplej, Ahmedabad – 382405, Gujarat, India
Tel. No.:	91-79-25710231-34/ 25714568/ 1655/ 0886
Fax No.:	91-79-25711755/ 25714569
E-Mail :	cs.cil@chiripalgroup.com cpl@chiripalgroup.com info@chiripalgroup.com kulkarni@chiripalgroup.com corporate@chiripalgroup.com shanty@chiripalgroup.com nirajm@chiripalgroup.com cs.cil@chiripalgroup.com cs.gen@chiripalgroup.com
Website :	www.chiripalgroup.com
Corporate Office :	‘Chiripal House’, Shiv Ranjini, Cross Road, Satelite, Ahmedabad - 380015, Gujarat, India
Tel. No.:	91-79-27634660/ 2/ 3
Fax No.:	91-79-26768656
Email :	corporate@chiripalgroup.com
Mumbai Office :	109-110, Peninsula Center, Dr. S. S. Rao Road, Lower Parel, Mumbai - 400012. Maharashtra, India
Tel. No.:	91-22-56604123
Fax No.:	91-22-56604124
Email :	shanti.bom@chiripalgroup.com
Marketing Office :	21, Century Business Centre, Man Darwaza Ring Road, Surat – 395 002, Gujarat, India
Tel. No.:	91-261-6627078/ 79
E-Mail :	cpl.surat@chiripalgroup.com

DIRECTORS

AS ON 29.09.2012

Name :

Mr. Vedprakash Devkinandan Chiripal

Designation :

Managing director

Address :

11, Nandi Hill Society, Satellite Road, Ahmedabad – 380015, Gujarat, India

Date of Birth/Age :

21.11.1951

Qualification :

B.Com

Date of Appointment :

01.10.2008

PAN No.:

AAHPC2102Q

DIN No.:

00290454

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	U17110GJ1988PLC010634	CHIRIPAL INDUSTRIES LIMITED	Managing director	01/10/2008	26/06/1994	-	Active	NO
2	L23200GJ1993PLC020927	GSL NOVA PETROCHEMICALS LIMITED	Director	29/09/1997	29/09/1997	05/10/2009	Active	NO
3	L51909GJ1994PLC022719	NANDAN DENIM LIMITED	Director	11/08/2003	11/08/2003	-	Active	NO
4	L17111GJ2003PLC043354	CIL NOVA PETROCHEMICALS LIMITED	Director	17/12/2003	17/12/2003	-	Active	NO
5	U17111GJ2004PLC044476	NOVA PETROFILS LIMITED	Director	19/07/2004	19/07/2004	25/08/2007	Active	NO
6	U18109GJ2008PLC052724	CHIRIPAL LIFESTYLE LIMITED	Director	24/01/2008	24/01/2008	30/06/2012	Active	NO
7	U40108GJ2008PLC053994	CHIRIPAL ENERGY LIMITED	Director	23/05/2008	23/05/2008	30/06/2012	Active	NO
8	U17120MH2009PLC195352	CHIRIPAL POLY FILMS LIMITED	Director	31/08/2009	31/08/2009	-	Active	NO
9	U80301GJ2012NPL068844	SHANTI INNOVATION AND RESEARCH FOUNDATION	Director	02/02/2012	02/02/2012	-	Active	NO
10	U15100GJ2012PTC069047	VRAJ MEGA FOOD PARK PRIVATE LIMITED	Director	15/02/2012	15/02/2012	-	Active	NO
11	U70101RJ2012PTC038713	NAV SRAJAN PROJECTS PRIVATE LIMITED	Director	27/04/2012	27/04/2012	-	Active	NO
12	U80301GJ2012NPL071332	SHANTI ACADEMIC AND RESEARCH FOUNDATION	Director	28/07/2012	28/07/2012	-	Active	NO
13	AAA-0446	NANDAN CHIRIPAL ENERGY COPORATION LLP	Body corporate as Designated Partner	03/12/2009	03/12/2009	-	Active	NO
14	AAA-0670	NANDAN CORPORATION LLP	Designated Partner	01/02/2010	01/02/2010	-	Active	NO
15	AAA-5310	DEVKINANDAN CORPORATION LLP	Designated Partner	22/06/2011	22/06/2011	-	Active	NO

Name :

Mr. Ambalal Chhitabhai Patel

Designation :

Director

Address :

14/ B, Shreyasnath Society, Vasana, Dhranidhar Derasar, Ahmedabad, Gujarat, India

Date of Birth/Age :

01.04.1944

Qualification :

B.E. (METALLURGY), B.SC. (CHEMISTRY)

Date of Appointment :

29.09.2007

DIN No.:

00037870

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	L27104GJ1972PLC002153	PANCHMAHAL STEEL LIMITED	Nominee director	30/01/2004	30/01/2004	25/10/2008	Active	NO
2	L18119GJ1984PLC006922	JINDAL HOTELS LIMITED	Director	22/07/2004	22/07/2004	-	Active	NO
3	L29199GJ2003PLC043148	S A L STEEL LIMITED	Director	05/08/2004	05/08/2004	-	Active	NO
4	L27100GJ1977PLC002619	VISHAL MALLEABLES LIMITED	Director	30/07/2005	30/07/2005	-	Active	NO
5	L65923GJ1994PLC021479	SUMERU INDUSTRIES LIMITED	Director	12/09/2005	12/09/2005	-	Active	NO
6	U21010GJ1995PTC026358	SHREE GAJANAN PAPER AND BOARDS PRIVATE LIMITED	Director	27/09/2005	27/09/2005	01/03/2011	Active	NO
7	L99999GJ1992PLC018626	LAFFANS PETROCHEMICALS LIMITED	Director	28/10/2005	28/10/2005	-	Active	NO
8	L74140GJ1995PLC024524	CIRCUIT SYSTEMS (INDIA) LIMITED	Director	05/12/2005	05/12/2005	-	Active	NO
9	L27104MH1985PLC035659	AJMERA REALTY & INFRA INDIA LIMITED	Director	07/12/2006	07/12/2006	-	Active	NO
10	U85110GJ1990PTC013725	KARNAVATI HOSPITAL PRIVATE LIMITED	Director	29/09/2007	08/12/2006	-	Active	YES
11	U17110GJ1988PLC010634	CHIRIPAL INDUSTRIES LIMITED	Director	29/09/2007	22/12/2006	-	Active	NO
12	L51909GJ1994PLC022719	NANDAN DENIM LIMITED	Director	29/09/2007	21/02/2007	-	Active	NO
13	L51900MH1985PLC036271	SPECTACLE VENTURES LIMITED	Additional director	27/04/2009	27/04/2009	05/09/2009	Active	NO
14	L70109MH2007PLC174206	SHREE PRECOATED STEELS LIMITED	Director	30/01/2010	30/04/2009	-	Active	NO
15	L17111GJ2003PLC043354	CIL NOVA PETROCHEMICALS LIMITED	Director	23/09/2010	05/10/2009	-	Active	NO

Name :

Mr. Jawahar Lal

Designation :

Director

Address :

Nand Tara, 22 Oak Drive, Mandi Road, Sultanpur, Mehrauli, Delhi – 110030, India

Date of Birth/Age :

17.12.1954

Qualification :

Under Graduate

Date of Appointment :

29.09.2008

DIN No.:

00076462

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	U99999DL1973PTC006769	BLUE LINE MOTORS PRIVATE LIMITED	Director	25/06/1978	25/06/1978	30/10/2001	Strike off	NO
2	U63022DL1978PLC009193	RAMA ASSOCIATES LIMITED	Director	12/07/1979	12/07/1979	15/01/2011	Active	NO
3	U74999MH1987PLC044006	ESSEL INFRAPROJECTS LIMITED	Director	30/09/2013	07/07/1987	-	Active	NO
4	L65910DL1984PLC018831	ASIAN SKY SHOP LIMITED	Director	20/06/1994	20/06/1994	08/08/2011	Active	NO
5	U74899DL1994PLC059874	ESSEL INTERNATIONAL LIMITED	Director	28/06/1994	28/06/1994	15/10/2012	Active	NO
6	L65993DL1982PLC014195	RANKAY INVESTMENT AND TRADING COMPANY LIMITED	Director	17/10/1994	17/10/1994	-	Active	NO
7	U09211DL1999PTC102264	NEW MEDIA BROADCASTING PRIVATE LIMITED	Director	03/11/1999	03/11/1999	28/12/2010	Active	NO
8	U74899DL1995PTC063992	PROCALL PRIVATE LIMITED	Director	30/09/2002	30/09/2002	22/05/2008	Active	NO
9	U51901CH2002PTC025614	BIGWIN ENTERPRISES PRIVATE LIMITED	Director	03/12/2002	03/12/2002	03/10/2009	Active	NO
10	U74899DL1999NPL101705	INDIAN BROADCASTING FOUNDATION U S 25 PUBLIC COMPANY	Nominee director	29/09/2004	29/09/2004	-	Active	NO
11	U64202MH2005PTC242691	KVS TELECOMMUNICATION PRIVATE LIMITED	Director	30/09/2008	18/10/2005	29/03/2011	Active	NO
12	U92200DL1959NPL003169	UNITED NEWS OF INDIA	Director	26/09/2006	26/09/2006	20/03/2009	Active	NO
13	L51909DL1988PLC101836	DISH TV INDIA LIMITED	Managing director	06/01/2007	06/01/2007	-	Active	NO
14	U92412MH2007PTC171016	PAN INDIA INFRAPROJECTS PRIVATE LIMITED	Director	31/07/2007	31/07/2007	03/03/2008	Active	NO
15	U17110GJ1988PLC010634	CHIRIPAL INDUSTRIES LIMITED	Director	29/09/2008	09/01/2008	-	Active	NO
16	U74899DL2001PLC113501	ZEE-TURNER LIMITED	Director	30/07/2011	01/12/2010	-	Active	NO
17	U92412MH2006PTC164446	MEDIA PRO ENTERPRISE INDIA PRIVATE LIMITED	Additional director	23/01/2012	23/01/2012	11/04/2012	Active	NO

Name :

Mr. Rajesh Premchand Bindal

Designation :

Whole-time director

Address :

10, Mangalyam Society, Near Ocean Park, Nehru Nagar Road, Ahmedabad – 380015, Gujarat, India

Date of Birth/Age :

30.11.1973

Qualification :

B.Com

Date of Appointment :

10.01.2013

PAN No.:

ABAPB3497M

DIN No.:

00155156

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	U52609GJ1996PTC028863	BINDAL WORLDWIDE PRIVATE LIMITED	Director	19/02/1996	19/02/1996	02/10/2009	Active	NO
2	U45300GJ2005PLC047423	VRAJ INTEGRATED TEXTILE PARK LIMITED	Director	30/12/2005	30/12/2005	-	Active	NO
3	U17110GJ1988PLC010634	CHIRIPAL INDUSTRIES LIMITED	Whole-time director	10/01/2013	26/04/2006	-	Active	NO
4	U45200GJ2011PLC066303	CHIRIPAL INDUSTRIAL PARK LIMITED	Director	12/07/2011	12/07/2011	-	Active	NO
5	U15100GJ2012PTC069047	VRAJ MEGA FOOD PARK PRIVATE LIMITED	Director	15/02/2012	15/02/2012	-	Active	NO

Name :

Mr. Jaiprakash Devkinandan Chiripal

Designation :

Whole-time director

Address :

10, Nandi Hill Society, Satellite Road, Ahmedabad – 380015, Gujarat, India

Date of Birth/Age :

02.11.1959

Qualification :

B.Com

Date of Appointment :

01.09.2011

PAN No.:

AAJPA4564C

DIN No.:

00155430

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	U25209GJ1999PTC036974	NPL POLYMERS PRIVATE LIMITED	Director	08/12/1999	08/12/1999	03/10/2013	Active	NO
2	U40109GJ2000PTC037126	NPL INDUSTRIES PRIVATE LIMITED	Director	04/01/2000	04/01/2000	-	Active	NO
3	U17119MH2001PLC132197	NOVA POLYFILMS LIMITED	Director	31/05/2001	31/05/2001	05/02/2004	Strike off	NO
4	U80101GJ1988PLC010691	SHANTI EDUCATIONAL INITIATIVES LIMITED	Director	15/07/2003	15/07/2003	-	Active	NO
5	U45300GJ2005PLC047423	VRAJ INTEGRATED TEXTILE PARK LIMITED	Director	01/03/2006	01/03/2006	-	Active	NO
6	U17110GJ1988PLC010634	CHIRIPAL INDUSTRIES LIMITED	Whole-time director	01/09/2011	26/04/2006	-	Active	NO
7	U45202GJ2006PTC049459	SAFAL ORGANISERS PRIVATE LIMITED	Director	27/11/2006	27/11/2006	24/12/2010	Active	NO
8	U17291GJ2007PLC051939	DHOLI INTEGRATED SPINNING PARK LIMITED	Director	10/10/2007	10/10/2007	-	Active	NO
9	U18109GJ2008PLC052724	CHIRIPAL LIFESTYLE LIMITED	Director	24/01/2008	24/01/2008	-	Active	NO
10	U40108GJ2008PLC053994	CHIRIPAL ENERGY LIMITED	Director	23/05/2008	23/05/2008	-	Active	NO
11	U74900GJ2009PTC055871	ATPA SWARNIM GUJARAT ENVIRO PRIVATE LIMITED	Director	09/01/2009	09/01/2009	-	Active	NO
12	U17120MH2009PLC195352	CHIRIPAL POLY FILMS LIMITED	Director	31/08/2009	31/08/2009	-	Active	NO
13	U37200GJ2010NPL060003	NAROL TEXTILE INFRASTRUCTURE & ENVIRO MANAGEMENT	Director	25/03/2010	25/03/2010	-	Active	NO
14	U80302GJ2011NPL065502	SHANTI POLYTECHNIC FOUNDATION	Director	19/05/2011	19/05/2011	-	Active	NO
15	AAA-0670	NANDAN CORPORATION LLP	Designated Partner	01/02/2010	01/02/2010	-	Active	NO
16	AAA-1083	CHIRIPAL EXIM LLP	Designated Partner	06/04/2010	06/04/2010	-	Active	NO
17	AAA-5310	DEVKINANDAN CORPORATION LLP	Designated Partner	22/06/2011	22/06/2011	-	Active	NO

Name :

Mr. Jyotiprasad Devkinandan Chiripal

Designation :

Director

Address :

91, Basant Bahar Bunglows, Bopal, Ahmedabad – 380058, Gujarat, India

Date of Birth/Age :

21.08.1953

Qualification :

B.Com

Date of Appointment :

07.08.2006

PAN No.:

AAJPA4565D

DIN No.:

00155695

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	L23200GJ1993PLC020927	GSL NOVA PETROCHEMICALS LIMITED	Director	23/12/1993	23/12/1993	05/10/2009	Active	NO
2	L17111GJ2003PLC043354	CIL NOVA PETROCHEMICALS LIMITED	Director	17/12/2003	17/12/2003	-	Active	NO
3	U17111GJ2004PLC044476	NOVA PETROFILS LIMITED	Director	19/07/2004	19/07/2004	25/08/2007	Active	NO
4	U17110GJ1985PTC008206	VISHAL FABRICS PRIVATE LIMITED	Managing director	01/10/2008	20/07/2004	-	Active	NO
5	U17110GJ1988PLC010634	CHIRIPAL INDUSTRIES LIMITED	Director	07/08/2006	07/08/2006	-	Active	NO
6	U24290GJ2007PTC050898	ELE MINTS PRIVATE LIMITED	Director	21/05/2007	21/05/2007	-	Active	NO
7	U40108GJ2008PLC053994	CHIRIPAL ENERGY LIMITED	Director	23/05/2008	23/05/2008	-	Active	NO
8	U17120MH2009PLC195352	CHIRIPAL POLY FILMS LIMITED	Director	31/08/2009	31/08/2009	17/02/2014	Active	NO
9	U92490GJ1996PTC029416	BASANT BAHAR GYMKHANA PRIVATE LIMITED	Director	28/09/2011	04/10/2010	-	Active	NO
10	U45200GJ2011PLC065896	CHIRIPAL INFRASTRUCTURE LIMITED	Director	14/06/2011	14/06/2011	-	Active	NO
11	U80301GJ2012NPL068844	SHANTI INNOVATION AND RESEARCH FOUNDATION	Director	02/02/2012	02/02/2012	-	Active	NO
12	U80301GJ2012NPL071332	SHANTI ACADEMIC AND RESEARCH FOUNDATION	Director	28/07/2012	28/07/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Sandip Amratlal Mistry
Designation :	Secretary
Address :	B–87, Ghanshyam Park, Ghodasar Kansh, Ahmedabad – 380050, Gujarat, India
Date of Birth/Age :	13.02.1964
Date of Appointment :	20.10.2005
PAN No.:	ACZPM2110Q

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

NOTE: SHAREHOLDING DETAILS FILE ATTACHED

AS ON 29.09.2012

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]	8.33
Bodies corporate	13.79
Directors or relatives of directors	64.35
Other top fifty shareholders	5.29
Others	8.24
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of wide range of textile value chain viz. Partially Oriented Yarn (POY), Fully Drawn Yarn (FDY), Draw Twisted Yarn (DTY), Texturising Yarn, Polar Fleece Fabrics, Special Coated Fabrics and processing of fabrics, embroidery etc.

PRODUCTION STATUS (AS ON 31.03.2011)

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
FDY	--	N.A.	28450 M.T.	--
POY	--	N.A.	42950 M.T.	--
Processed Yarn	(Kgs.)	N.A.	25780 M.T.	39905401
Fabrics	(Kgs.)	N.A.	10000 M.T.	1037173
Garments	(Pcs.)	N.A.	NIL	NIL

Note:

The installed capacity have been taken as certified by the management as being a technical matter.

GENERAL INFORMATION

No. of Employees :

Information declined by the management

Bankers :

· State Bank of India, Commercial Branch, 3rd Floor, Paramsiddhi Complex, Ellisbridge, Ahmedabad - 380006, Gujarat, India

· State Bank of Bikaner and Jaipur, 103, Abhishree Complex, Opposite Star Bazar, Satellite, Ahmedabad - 380015, Gujarat, India

· Union Bank of India, Industrial Finance Branch, C.U. Shah Chambers, Near Gujarat Vidyapith, Ashram Road, Ahmedabad - 380014, Gujarat, India

· Oriental Bank of Commerce, Neel Kamal Building, Opposite Sales India, Ashram Road, Ahmedabad - 380009, Gujarat, India

· Bank of India, Ahmedabad Corporate Banking Branch, 2nd floor, Bank of India Building, Bhadra, Ahmedabad - 380001, Gujarat, India

· Bank of Baroda, Sakar Bazar, Ahmedabad - 380001, Gujarat, India

Facilities :

SECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG-TERM BORROWINGS
Term loans from banks	1196.533	1470.686
Other loans and advances	14.858	14.049
SHORT TERM BORROWINGS
Rupee term loans from banks	287.889	271.055
Working capital loans from banks	608.104	580.960
Other loans and advances	15.012	15.408
Total	2122.396	2352.158

Banking Relations :	--
Auditors :
Name :	Nahta Jain and Associates Chartered Accountants
Address :	211, New Cloth Market, Sarangpur, Ahmedabad – 380002, Gujarat, India
Income-tax PAN of auditor or auditor's firm :	AABFN3524D
Subsidiary company :	Vishal Fabrics Private Limited [U17110GJ1985PTC008206]
Associates :	· Nandan Denim Limited [L51909GJ1994PLC022719] · Cil Nova Petrochemicals Limited [L17111GJ2003PLC043354] · Shanti Educational Initiatives Limited (Formerly known as Chiripal Enterprises Limited) [U80101GJ1988PLC010691] · Sparrow Exports Private Limited · Vraj Integrated Textile Park Limited · Chiripal Poly Films Limited

CAPITAL STRUCTURE

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
50,000,000	Equity Shares	Rs. 10/- each	Rs. 500.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
24,348,916	Equity Shares	Rs. 10/- each	Rs. 243.489 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	243.489	243.489
(b) Reserves & Surplus	2222.862	2085.907
(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)	2466.351	2329.396
(3) Non-Current Liabilities
(a) long-term borrowings	1368.156	1807.864
(b) Deferred tax liabilities (Net)	254.373	258.300
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	1622.529	2066.164
(4) Current Liabilities
(a) Short term borrowings	984.567	944.382
(b) Trade payables	689.492	636.812
(c) Other current liabilities	51.900	50.346
(d) Short-term provisions	111.156	81.624
Total Current Liabilities (4)	1837.115	1713.164
TOTAL	5925.995	6108.724
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2749.379	2976.279
(ii) Intangible Assets	2.367	2.938
(iii) Capital work-in-progress	15.750	35.696
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	398.095	398.775
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	3165.591	3413.688
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	1155.617	1087.617
(c) Trade receivables	1214.435	1147.663
(d) Cash and cash equivalents	95.668	259.184
(e) Short-term loans and advances	294.137	199.474
(f) Other current assets	0.547	1.098
Total Current Assets	2760.404	2695.036
TOTAL	5925.995	6108.724

SOURCES OF FUNDS		31.03.2011
SHAREHOLDERS FUNDS
1] Share Capital		223.198
2] Share Application Money		0.000
3] Reserves & Surplus		1524.191
4] (Accumulated Losses)		0.000
NETWORTH		1747.389
LOAN FUNDS
1] Secured Loans		2435.363
2] Unsecured Loans		262.794
TOTAL BORROWING		2698.157
DEFERRED TAX LIABILITIES		237.227
TOTAL		4682.773
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		2923.054
Capital work-in-progress		60.717
INVESTMENT		188.966
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	1007.762
	Sundry Debtors	943.199
	Cash & Bank Balances	172.199
	Other Current Assets	0.000
	Loans & Advances	163.869
Total Current Assets		2287.029
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	691.840
	Other Current Liabilities	42.708
	Provisions	44.933
Total Current Liabilities		779.481
Net Current Assets		1507.548
MISCELLANEOUS EXPENSES		2.488
TOTAL		4682.773

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Revenue from operations	6623.771	6239.949	6147.385
		Other Income	52.560	37.789	20.817
		TOTAL (A)	6676.331	6277.738	6168.202
Less	EXPENSES
		Cost of materials consumed	4779.191	4504.352	4148.450
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	(53.209)	(55.368)	--
		Employee benefit expense	250.576	221.080	204.590
		Manufacturing Service Costs	--	--	963.734
		Other expenses	883.848	839.674	155.769
		TOTAL (B)	5860.406	5509.738	5472.543
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		815.925	768.000	695.659
Less	FINANCIAL EXPENSES (D)		380.466	376.344	298.222
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		435.459	391.656	397.437
Less/ Add	DEPRECIATION/ AMORTISATION (F)		296.946	284.278	237.136
	PROFIT BEFORE TAX (E-F) (G)		138.513	107.378	160.301
Less	TAX (H)		1.558	12.359	87.759
	PROFIT AFTER TAX (G-H) (I)		136.955	95.019	72.542
	EARNINGS IN FOREIGN CURRENCY
		Export of goods calculated on FOB basis	185.432	192.223	171.141
	IMPORTS
		Raw Materials	636.506	233.072	340.963
		Spare parts & Other matters	6.890	9.414	6.815
		Capital Goods	31.005	53.581	155.136
	TOTAL IMPORTS		674.401	296.067	502.914
	Earnings Per Share (Rs.)		5.62	4.17	3.40

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	2.05	1.51	1.18
Net Profit Margin (PBT/Sales)	(%)	2.09	1.72	2.61
Return on Total Assets (PBT/Total Assets}	(%)	2.51	1.89	3.08
Return on Investment (ROI) (PBT/Networth)		0.06	0.05	0.09
Debt Equity Ratio (Total Debt/Networth)		0.95	1.18	1.54
Current Ratio (Current Asset/Current Liability)		1.50	1.57	2.93

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	243.489	243.489
Reserves & Surplus	2085.907	2222.862
Net worth	2,329.396	2,466.351
long-term borrowings	1807.864	1368.156
Short term borrowings	944.382	984.567
Total borrowings	2,752.246	2,352.723
Debt/Equity ratio	1.182	0.954

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	6147.385	6239.949	6623.771
		1.506	6.151

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	6147.385	6239.949	6623.771
Profit	72.542	95.019	136.955
	1.18%	1.52%	2.07%

LOCAL AGENCY FURTHER INFORMATION

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

LITIGATION DETAILS

HIGH COURT OF GUJARAT

CAVEAT (SPECIAL CIVIL APPLICATION) No. 2858 of 2013

Status: INACTIVE CCIN No: 001025201302858

Last Listing Date: --

Coram: --

S.NO.

Name of the Petitioner

Advocate On Record

1

YOGESHWAR POLYMERS

MS MINI N PILLAI for: Caveator(s) 1

S.NO.

Name of the Respondant

Advocate On Record

1

CHIRIPAL INDUSTRIES LIMITED

Presented On : 05/09/2013 Registered On : --

Bench Category : -- District : AHMEDABAD

Case Originated From: THROUGH ADVOCATE Listed : 0 times

Stage Name : --

Lower Court Details

S. No.	Lower Court Case Detail	Lower Court Name	Judge Name	Judgment date
1	REGULAR CIVIL SUIT/496/2013	DISTRICT COURT, AHMEDABAD RURAL	-	04/09/2013

Office Details

S. No

Filing Date

Document Name

Advocate Name

Court Fee on Document

Document Details

1

05/09/2013

VAKALATNAMA

MS MINI N PILLAI ADVOCATE
for PETITIONER(s) 1

5

MS MINI N PILLAI(7204) for P:1

2

05/09/2013

MEMO OF APPEAL/PETITION/SUIT

MS MINI N PILLAI ADVOCATE
for PETITIONER(s) 1

50

MS MINI N PILLAI(7204), for P:1

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10287939	02/05/2011	100,000,000.00	STATE BANK OF BIKANER AND JAIPUR	103, ABHISHREE COMPLEX, OPP. STAR BAZAR, SATELLITE, AHMEDABAD - 380015, GUJARAT, INDIA	B13339437
2	10247875	23/10/2010	265,000,000.00	UNION BANK OF INDIA	INDUSTRIAL FINANCE BRANCH, C.U. SHAH CHAMBERS, NR. GUJARAT VIDYAPITH, ASHRAM ROAD, AHMEDABAD - 380014, GUJARAT, INDIA	A97836670
3	10236238	11/08/2010	220,000,000.00	ORIENTAL BANK OF COMMERCE	NEEL KAMAL BUILDING, SOPP. SALES INDIA, ASHRAM ROAD, AHMEDABAD - 380009, GUJARAT, INDIA	A92604719
4	10208278	24/02/2010	300,000,000.00	BANK OF INDIA	AHMEDABAD CORPORATE BANKING BRANCH, 2ND FLOOR, BANK OF INDIA BUILDING, BHADRA, AHMEDABAD - 380001, GUJARAT, INDIA	A81553810
5	10181398	25/10/2013 *	4,414,900,000.00	STATE BANK OF INDIA	COMMERCIAL BRANCH, 3RD FLOOR, PARAMSIDDHI COMPLEX, ELLISBRIDGE, AHMEDABAD - 380006, GUJARAT, INDIA	B89894737
6	10114286	15/04/2008	240,000,000.00	JAMMU & KASHMIR BANK LTD.	BRANCH ANSAL PLAZA, HUDCO PLACE, KHELGAON MARG,  205-B, ANDREWS GANJ, NEW DELHI - 110049, INDIA	A40551517
7	10086283	04/01/2008	50,000,000.00	INDUSIND BANK LTD.	2401 GEN THIMMAYYA ROAD CANTONMENT, PUNE - 411001, MAHARASHTRA, INDIA	A31525876
8	10071585	04/10/2007	350,000,000.00	INDUSTRIAL DEVELOPMENT BANK OF INDIA LIMITED	IDBI COMPLEX, OPP. MUNICIPAL STAFF QUARTERS, OFF. C. G. ROAD, NAVRANGPURA, AHMEDABAD - 380006, GUJARAT, INDIA	A25022914
9	10073773	14/09/2007	145,000,000.00	ALLAHABAD BANK	S.P. NAGAR BRANCH,, OPP.SARDAR PATEL SEVA SAMAJ BHAVAN, C.G. ROAD, AHMEDABAD - 380006, GUJARAT, INDIA	A25315151
10	80005016	18/04/2006	119,000,000.00	UCO BANK	ASHRAM ROAD, AHMEDABAD - 380009, GUJARAT, INDIA	-
11	10002911	18/04/2006	119,000,000.00	UCO BANK	ASHRAM ROAD, AHMEDABAD - 380009, GUJARAT, INDIA	A00636191
12	80005033	06/06/2006 *	140,000,000.00	INDUSTRIAL DEVELOPMENT BANK OF INDIA	IDBI TOWER, WTC COMPLEX, CUFFE PARADE, MUMBAI - 400005, MAHARASHTRA, INDIA	-
13	80005017	08/06/2006 *	435,300,000.00	STATE BANK OF INDORE	ASHRAM ROAD, AHMEDABAD - 380009, GUJARAT, INDIA	-
14	80005018	06/06/2006 *	435,300,000.00	STATE BANK OF INDORE	ASHRAM ROAD, AHMEDABAD - 380009, GUJARAT, INDIA	-
15	80004941	12/03/2005	598,800,000.00	SBI SBH SBIN PNB KBL	COMML BRANCH, AHMEDABAD - 380001, GUJARAT, INDIA	-
16	80005026	11/02/2005	48,000,000.00	STATE BANK OF TRAVANCORE	AMBAWADI, AHMEDABAD - 380006, GUJARAT, INDIA	-
17	80005027	11/02/2005	109,800,000.00	STATE BANK OF TRAVANCORE	AMBAWADI, ELLISBRIDGE, AHMEDABAD - 380006, GUJARAT, INDIA	-
18	80005031	11/02/2005	109,800,000.00	STATE BANK OF TRAVANCORE	AMBAWADI, AHMEDABAD - 380006, GUJARAT, INDIA	-
19	80004936	10/03/2011 *	2,655,800,000.00	STATE BANK OF INDIA	COMMERCIAL BRANCH, PARAMSIDDHI COMPLEX, OPP. V. S. HOSPITAL, ELLISBRIDGE, AHMEDABAD - 380006, GUJARAT, INDIA	B11446648
20	80004937	18/06/2011 *	4,182,800,000.00	STATE BANK OF INDIA	COMMERCIAL BRANCH, 3RD FLOOR, PARAMSIDDHI COMPLEX, ELLISBRIDGE, AHMEDABAD - 380006, GUJARAT, INDIA	B17925975
21	80005025	21/09/2004	47,000,000.00	STATE BANK OF INDORE	ASHRAM ROAD BRANCH, AHMEDABAD - 380009, GUJARAT, INDIA	-
22	80005022	23/07/2004	128,000,000.00	STATE BANK OF INDORE	ASHRAM ROAD BRANCH, AHMEDABAD - 380009, GUJARAT, INDIA	-
23	80005019	06/03/2007 *	119,000,000.00	UCO BANK	UCO BHAWAN, NEAR SANYAS ASHRAM, ASHRAM ROAD, AHMEDABAD - 380009, GUJARAT, INDIA	-

* Date of charge modification

UNSECURED LOANS

UNSECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG-TERM BORROWINGS
Term loans from others	145.491	312.081
Deposits	11.274	11.048
SHORT TERM BORROWINGS
Term loans from others	73.562	76.959
Total	230.327	400.088

CORPORATE INFORMATION:

The Company was originally incorporated as a Private Limited Company as Chiripal Twisting and Sizing Private Limited on 27th April, 1988 under the Companies Act, 1956, in the State of Gujarat at Ahmedabad. The Company was then converted into Public Limited Company on 23/10/2003. Subsequently the name of Company was changed to Chiripal Petrochemicals Limited and fresh certificate of incorporation for change of name was obtained on 07/01/2004 from the Registrar of the Companies, Gujarat Later on another group companies namely Shanti Processors Limited And Priti Processors Private Limited have been merged with the company. The Hon’able High Court of Gujarat had vide its order dtd 31.03.2006 approved the amalgamation of Shanti Processors Limited and Priti Processors Private Limited with Chiripal Petrochemicals Limited. The effective date of amalgamation is 01.04.2005. In order to impart unique identity due to amalgamation, the name of the Company has subsequently changed to Chiripal Industries Limited and fresh certificate of incorporation on change of name was obtained on 13/04/2006 from the Office of the Registrars of the Companies, Gujarat. The registered office of the Company is at Survey No.199 and 200/1-2, Saijpur - Gopalpur, Pirana Road, Piplej, Ahmedabad-382 405 Chiripal Industries Limited (CIL) promoted by Chiripal Group is engaged in manufacture of wide range of products along the textile value chain viz. Partially Oriented Yarn (POY), Fully Drawn Yarn (FDY), Draw Twisted Yarn (DTY), Texturising Yarn, Polar Fleece Fabrics, Special Coated Fabrics and processing of fabrics, embroidery etc. at Ahmedabad in Gujarat. The Company gets synergetic benefit of the integrated value chain of Chiripal Group.

PERFORMANCE:

During the year, the Company has achieved a turnover of Rs. 6623.800 Millions as compared to the previous year figure of Rs. 6239.900 Millions. The Net Profit during the year has achieved to Rs. 114.700 Millions. The Directors expect to improve performance during the current year. The overall performance of the Company remains stable due to prevailing market condition of the textile industry as a whole.

CONTINGENT LIABILITIES:

Particulars	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
1) Corporate guarantee given in favour of Banks against credit facilities extended	255.000	255.000
2) Bank guarantee given to Commissioner of Custom, JNPT for clearance of imported raw material during the financial year 2005-06 against which the company has provided 100% margin in form of term deposit .The matter is still pending with the authority till the date.	0.338	0.338
3) Unexpired Bank guarantees	15.342	23.600
4) Unexpired Letter of Credit	611.083	584.207
5) Central Excise National Calamity Contingent Duty is (NCCD) paid under protest till balance sheet date towards captive consumption of polyester partially oriented Filament Yarn and polyester fully drawn yarn for manufacture of texturised yarn, crimped Yarn, twisted yarn, M. M. knitted yarn etc. as per show cause notice received from Commissioner of Central Excise, Ahmedabad. The same has been shown under the head Loans and Advances and matter is still pending before the authorities.	7.994	7.994
6) Appeal with CESTAT against order of Commissioner of Central Excise, (Appeal) Ahmedabad	26.941	26.941
7) Appeal with CESTAT against order of DGCEI	52.500	0.000
8) Writ Petition filled with Gujarat High Court against textile committee order	3.463	0.000
9) Penalty U/s 271(1) C of Income Tax Act for A.Y.2006-07 matter is pending before CIT(Appeal)	1.109	1.109
10) Demand U/s 143(3) of Income Tax Act for A.Y.2008-09 against which Rectification filled by company and matter is pending before CIT(Appeal)	0.975	0.975
11) Demand U/s 143(3) of Income Tax Act for A.Y.2010-11 matter is pending before CIT(Appeal)	5.745	0.000
12) Demand order U/s 17(1) r.w.f. 16(5) of Wealth Tax Act for A.Y.2006-07 matter is pending before CIT(Appeal)	0.082	0.082
Total	980.572	900.246

FIXED ASSETS:

· Land

· Buildings

· Office building

· Factory building

· Plant and equipment

· Furniture and fixtures

· Vehicles

· Office equipment

· Computer equipments

· Other equipments

· 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. 60.99
UK Pound	1	Rs. 102.07
Euro	1	Rs. 84.53

INFORMATION DETAILS

Information Gathered by :	PLK
Report Prepared by :	BVA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
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	YES
--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
DEFAULTERS
--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.