MIRA INFORM REPORT

Report Date :

29.03.2014

IDENTIFICATION DETAILS

Name :	MADURA INDUSTRIAL TEXTILES LIMITED
Registered Office :	1, Janki Centre, Off Veera Desai Road, Andheri (West), Mumbai – 400053, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	06.09.2010
Com. Reg. No.:	11-207473
Capital Investment / Paid-up Capital :	Rs.100.000 Millions
CIN No.: [Company Identification No.]	U17120MH2010PLC207473
TAN No.: [Tax Deduction & Collection Account No.]	MUMM38978C
PAN No.: [Permanent Account No.]	AAGCM7939P
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer and Exporter of Industrial Textiles.
No. of Employees :	2000 [Approximately]

RATING & COMMENTS

MIRA’s Rating :

B (30)

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

Maximum Credit Limit :	USD 1745200
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is a successor of Madhura Industrial Textiles proprietary concern incorporated during the year 2003 and later 2010 it got converted into Madhura Industrial Textiles limited. It is an established company having a moderate track record. There incurred huge external borrowings recorded by the company during 2013. However, trade relations are reported to be fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings 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 – 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

India’s current account deficit for the fiscal third quarter ended September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product from $31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in exports and moderation in gold imports. Manufacturing activity and new orders in India showed their strongest growth in a year in February. The news comes as a relief after data showed Asia’s third largest economy grew by a slower-than-expected 4.7 % annually in the three months through December. The HSBC Manufacturing Purchasing Managers’ Index which gauges the business activity of India’s factories but not its’ utilities, rose to 52.5 in February, its highest in a year from 51.4 in January. Overall new orders for factory goods which rose to a one-year high of 54.9 contributed to the surge. China has emerged as India’s biggest trading partner in the current financial year replacing the United Arab Emirates and pushing it to the third spot. India-China trade has reached $49.5 billion with a 8.7 % share in India’s total trade. The US comes second at $46 billion with 8.1 % share during the first nine months of the current financial year.

The Reserve Bank of India has granted an additional nine months to the public to exchange currency notes printed before 2005 including Rs 500 and Rs 1,000 denominations, pushing the deadline to January 1, 2015. A day before dates for the Lok Sabha polls were announced, the government decided to hike interest rates on fixed deposit schemes offered by post offices up to 0.2 per cent. The new rates will be effective April, 1. The Supreme Court will resume hearing on March, 11 Nokia’s appeal against a ruling over transferring ownership of its local mobile phones plant which is the subject of a tax dispute to Microsoft Corp.

In the last days of the current Government, another scam has surfaced. The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The Central Bureau of Investigation will look into allegations that over $80 million was paid in kickbacks in a deal signed in 2011. India has asked Boeing Co. to find a solution for problems with state-owned Air India’s 787 Dreamliners. The aircraft has experienced a series of malfunctions since its debut in 2011.

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. Gautam Kalra
Designation :	Director
Contact No.:	91-9820700070
Date :	28.03.2014

LOCATIONS

Registered Office :	1, Janki Centre, Off Veera Desai Road, Andheri [West], Mumbai – 400053, Maharashtra, India
Tel. No.:	91-22-26730890/ /91/ 92/ 93/ 94
Mobile No.:	91-9820700070 [Mr. Gautam Kalra]
Fax No.:	91-22-26730889/ 66916245
E-Mail :	sanil@maduratex.com info@maduratex.com
Website :	www.maduratex.com
Factory :	Plot No. 60/1 and 60/2, Demni Village, Near UCPL, Dadra – 396193, Dadra and Nagar Haveli, India
Tel. No.:	91-260-2669005/ 6

DIRECTORS

AS ON 30.09.2013

Name :

Mr. Rishi Raman Kalra

Designation :

Joint Managing director

Address :

22, Royal Accord III, Lokhandwala Complex, Andheri (West), Mumbai - 400053, Maharashtra, India

Date of Birth/Age :

14.06.1983

Date of Appointment :

05.02.2011

PAN No.:

AIWPK0548D

DIN No.:

00122132

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	Company/ LLP Status	Defaulting status
1	U29130MH1988PTC046684	HINDUSTAN RUBBERS INDUSTRIES PRIVATE LIMITED	Director	02/12/2002	02/12/2002	Active	NO
2	U17120MH2010PLC207473	MADURA INDUSTRIAL TEXTILES LIMITED	Managing director	05/02/2011	06/09/2010	Active	NO

Name :

Mr. Gautam Vipan Kalra

Designation :

Managing director

Address :

21 Royal Accord, III, Lokhandwala Andheri [West], Mumbai – 400053, Maharashtra, India

Date of Birth/Age :

09.07.1982

Date of Appointment :

05.02.2011

PAN No.:

ANBPK2995A

DIN No.:

03052859

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	Company/ LLP Status	Defaulting status
1	U17120MH2010PLC207473	MADURA INDUSTRIAL TEXTILES LIMITED	Managing director	05/02/2011	06/09/2010	Active	NO

Name :

Mr. Anil Radheshyam Kalra

Designation :

Whole-time director

Address :

12, Royal Accorod, Lokhandwala Complex, Andheri (West), Mumbai - 400053, Maharashtra, India

Date of Birth/Age :

30.09.1959

Date of Appointment :

05.02.2011

PAN No.:

AABPK9375R

DIN No.:

00119633

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	Company/ LLP Status	Defaulting status
1	U29130MH1988PTC046684	HINDUSTAN RUBBERS INDUSTRIES PRIVATE LIMITED	Managing director	08/05/2013	29/08/1992	Active	NO
2	U25192MH1991PTC062085	RAVASCO TRANSMISSION AND PACKING PRIVATE LIMITED	Whole-time director	29/08/1992	29/08/1992	Active	NO
3	U17116MH1990PTC056187	NIDHI SILK MILLS PRIVATE LIMITED	Director	07/10/2008	07/10/2008	Active	NO
4	U17120MH2010PLC207473	MADURA INDUSTRIAL TEXTILES LIMITED	Whole-time director	05/02/2011	06/09/2010	Active	NO

Name :

Mr. Sanil Radheshyam Kalra

Designation :

Whole-time director

Address :

11, Royal Accord III, Lokhandwala Complex, Andheri (West), Mumbai - 400053, Maharashtra, India

Date of Birth/Age :

18.06.1962

Date of Appointment :

05.02.2011

PAN No.:

AACPK8369A

DIN No.:

00119674

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	Company/ LLP Status	Defaulting status
1	U29130MH1988PTC046684	HINDUSTAN RUBBERS INDUSTRIES PRIVATE LIMITED	Director	29/08/1992	29/08/1992	Active	NO
2	U25192MH1991PTC062085	RAVASCO TRANSMISSION AND PACKING PRIVATE LIMITED	Managing director	08/05/2013	29/08/1992	Active	NO
3	U17116MH1990PTC056187	NIDHI SILK MILLS PRIVATE LIMITED	Director	07/10/2008	07/10/2008	Active	NO
4	U24232MH2010PTC199429	FULLIFE HEALTHCARE PRIVATE LIMITED	Director	22/07/2011	15/05/2010	Active	NO
5	U17120MH2010PLC207473	MADURA INDUSTRIAL TEXTILES LIMITED	Whole-time director	05/02/2011	06/09/2010	Active	NO

Name :

Mrs. Promilla Raman Kalra

Designation :

Whole-time director

Address :

22, Royal Accord III, Lokhandwala Complex, Andheri (West), Mumbai - 400053, Maharashtra, India

Date of Birth/Age :

03.06.1956

Date of Appointment :

05.02.2011

PAN No.:

AACPK8364P

DIN No.:

00119711

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	Company/ LLP Status	Defaulting status
1	U25192MH1991PTC062085	RAVASCO TRANSMISSION AND PACKING PRIVATE LIMITED	Whole-time director	01/06/2002	01/06/2002	Active	NO
2	U17120MH2010PLC207473	MADURA INDUSTRIAL TEXTILES LIMITED	Whole-time director	05/02/2011	06/09/2010	Active	NO

Name :

Mr. Vipan Ramnath Kalra

Designation :

Whole-time director

Address :

21, Royal Accord III, Lokhandwala Complex, Andheri (West), Mumbai - 400053, Maharashtra, India

Date of Birth/Age :

10.10.1953

Date of Appointment :

05.02.2011

PAN No.:

AABPK9377P

DIN No.:

00122168

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	Company/ LLP Status	Defaulting status
1	U29130MH1988PTC046684	HINDUSTAN RUBBERS INDUSTRIES PRIVATE LIMITED	Director	29/08/1992	29/08/1992	Active	NO
2	U25192MH1991PTC062085	RAVASCO TRANSMISSION AND PACKING PRIVATE LIMITED	Whole-time director	29/08/1992	29/08/1992	Active	NO
3	U17116MH1990PTC056187	NIDHI SILK MILLS PRIVATE LIMITED	Director	07/10/2008	07/10/2008	Active	NO
4	U17120MH2010PLC207473	MADURA INDUSTRIAL TEXTILES LIMITED	Whole-time director	05/02/2011	06/09/2010	Active	NO

Name :

Mr. Varun Anil Kalra

Designation :

Whole-time director

Address :

12, Royal Accord, III Lokhandwala Complex, Andheri [West], Mumbai – 400053, Maharashtra, India

Date of Birth/Age :

04.01.1985

Date of Appointment :

05.02.2011

PAN No.:

AMHPK0056B

DIN No.:

03052960

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	Company/ LLP Status	Defaulting status
1	U17120MH2010PLC207473	MADURA INDUSTRIAL TEXTILES LIMITED	Whole-time director	05/02/2011	06/09/2010	Active	NO

Name :

Mr. Jitesh Sanil Kalra

Designation :

Director

Address :

11, Royal Accord, III Lokhandwala Complex, Andheri [West], Mumbai - 400053, Maharashtra, India

Date of Birth/Age :

27.04.1989

Date of Appointment :

19.12.2011

DIN No.:

03421617

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	Company/ LLP Status	Defaulting status
1	U17120MH2010PLC207473	MADURA INDUSTRIAL TEXTILES LIMITED	Director	19/12/2011	31/03/2011	Active	NO

Name :

Ms. Richa Vipan Kalra

Designation :

Director

Address :

21 Royal Accord III Lokhandwala, Andheri [West], Mumbai – 400053, Maharashtra, India

Date of Birth/Age :

24.10.1987

Date of Appointment :

19.12.2011

DIN No.:

03421618

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	Company/ LLP Status	Defaulting status
1	U17120MH2010PLC207473	MADURA INDUSTRIAL TEXTILES LIMITED	Director	19/12/2011	31/03/2011	Active	NO

Name :

Mr. Raghav Raman Kalra

Designation :

Director

Address :

22 Royal Accord III Lokhandwala Complex, Andheri [West], Mumbai - 400053, Maharashtra, India

Date of Birth/Age :

20.04.1989

Date of Appointment :

19.12.2011

DIN No.:

03421621

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	Company/ LLP Status	Defaulting status
1	U17120MH2010PLC207473	MADURA INDUSTRIAL TEXTILES LIMITED	Director	19/12/2011	31/03/2011	Active	NO

KEY EXECUTIVES

Name :	Mr. Omprakash Bhutada
Designation :	Secretary
Address :	K--601 Ashok Nagar, Vazira Naka, Borivli (West), Mumbai – 400091, Maharashtra, India
Date of Birth/Age :	11.07.1954
Date of Appointment :	14.01.2011
Pan No.:	AAAPB5341F

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2013

Names of Shareholders	No. of Shares
Vipan Ramnath Kalra	250000
Anil Radheshyam Kalra	250000
Sanil Radheshyan Kalra	1250000
Promilla Raman Kalra	250000
Gautam Vipan Kalra	1000000
Rishi Raman Kalra	1000000
Varun Anil Kalra	1000000
Sahil Sanil Kalra Sucheta Sanil Kalra	625000
Anil Radheshyam Kalra Asha Anil Kalra	500000
Tarun Anil Kalra Asha Anil Kalra	750000
Jitesh Sanil Kalra Sucheta Sanil Kalra	625000
Gautam Vipan Kalra Ashna Gautam Kalra	250000
Promilla Raman Kalra Rishi Raman Kalra	500000
Raghav Raman Kalra Promilla Raman Kalra	750000
Vipan Ramnath Kalra Rachna Vipan Kalra	1000000
TOTAL	10000000

AS ON 30.09.2013

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Industrial Textiles.
Exports :
Products :	Industrial Textiles
Countries :	South Africa Middle East
Imports :
Products :	Raw Materials
Countries :	Japan China Europe

GENERAL INFORMATION

No. of Employees :

2000 [Approximately]

Bankers :

· The Shamrao Vithal Cooperative Bank Limited, Versova 7 Sarkar Corner, J.P Road, Near Andheri Sports Complex, Andheri (West), Mumbai - 400058, Maharashtra, India

· The Saraswat Cooperative Bank Limited, SME Vile Parle Branch, Bholanath Cooperative Housing Society, Subhash Road, Vile Parle [East], Mumbai - 400057, Maharashtra, India

· HDFC Bank Limited, Andheri (East), Mumbai, Maharashtra, India

Facilities :

Secured Loan	As on 31.03.2013 [Rs. in Millions]	As on 31.03.2012 [Rs. in Millions]
Long Term Borrowings
Term loans from banks	1094.865	657.170
Other loans and advances	0.652	2.849
Short Term Borrowings
Term loans from banks	280.245	215.046
TOTAL	1375.762	875.065

Banking Relations :	--
Auditors :
Name :	J & K Agarwal and Company Chartered Accountants
Address :	204 Camy House, 3 Dhus Wadidr, C H Street, Mumbai – 400002, Maharashtra, India
PAN No:	AAAFJ1781F
Associates :	Hindustan Rubber Industries Private Limited
Other Related Parties :	Ravasco Transmission and Packing Private Limited Hindustan Rubbers (Silvassa) Nidhi Silk Mills Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs.10/- each	Rs.100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs.10/- each	Rs.100.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1) Shareholders' Funds
(a) Share Capital	100.000	100.000	50.000
(b) Reserves & Surplus	336.302	249.406	92.397
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	436.302	349.406	142.397
(3) Non-Current Liabilities
(a) Long-term borrowings	1095.517	660.019	45.462
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.013	0.013	0.013
(d) Long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	1095.530	660.032	45.475
(4) Current Liabilities
(a) Short term borrowings	886.280	768.012	653.742
(b) Trade payables	963.532	772.682	404.377
(c) Other current liabilities	16.373	16.873	0.000
(d) Short-term provisions	73.445	52.723	0.000
Total Current Liabilities (4)	1939.630	1610.290	1058.119
TOTAL	3471.462	2619.728	1245.991
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	401.169	392.998	234.886
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	1734.735	1159.193	247.163
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.027	0.025	0.025
(c) Deferred tax assets (net)	3.789	7.527	2.673
(d) Long-term Loan and Advances	3.490	32.997	0.058
(e) Other Non-current assets	42.593	0.631	0.439
Total Non-Current Assets	2185.803	1593.371	485.244
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	304.322	197.306	144.804
(c) Trade receivables	482.397	425.362	489.641
(d) Cash and cash equivalents	102.480	63.445	53.122
(e) Short-term loans and advances	396.460	340.244	73.180
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	1285.659	1026.357	760.747
TOTAL	3471.462	2619.728	1245.991

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	2762.749	2442.100	1018.840
		Other Income	8.788	5.970	49.675
		TOTAL (A)	2771.537	2448.070	1068.515
Less	EXPENSES
		Cost of materials consumed	2179.069	1842.967	794.901
		Employee benefit expense	63.310	52.398	20.881
		Other expenses	255.283	257.494	97.274
		Changes in inventories of finished goods, work-in-progress and stock-in-trade	(17.117)	(67.462)	(27.377)
		TOTAL (B)	2480.545	2085.397	885.679
Less	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		290.992	362.673	182.836
Less	FINANCIAL EXPENSES (D)		136.128	110.273	41.612
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		154.864	252.400	141.224
Less/ Add	DEPRECIATION/ AMORTISATION (F)		42.595	46.731	21.688
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		112.269	205.669	119.536
Less	TAX (H)		24.788	46.336	27.139
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		87.481	159.333	92.397
	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		249.410	92.400	0.000
	APPROPRIATIONS
		Proposed Dividend	0.500	2.000	0.000
		Tax on Dividend	0.090	0.320	0.000
	BALANCE CARRIED TO THE B/S		336.360	249.410	92.397
	Earnings / (Loss) Per Share (Rs.)		8.75	15.93	18.48

Expected Sales (2013-14 ) : Rs.3000.000 Millions.

The above information has been parted by Mr. Gautam Kalra.

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	3.15	6.51	8.65
Net Profit Margin (PBT/Sales)	(%)	4.06	8.42	11.73
Return on Total Assets (PBT/Total Assets}	(%)	6.47	14.15	50.78
Return on Investment (ROI) (PBT/Networth)		0.25	0.59	0.84
Debt Equity Ratio (Total Debt/Networth)		4.54	4.09	4.91
Current Ratio (Current Asset/Current Liability)		0.66	0.64	0.72

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	50.000	100.000	100.000
Reserves & Surplus	92.397	249.406	336.302
Net worth	142.397	349.406	436.302
long-term borrowings	45.462	660.019	1095.517
Short term borrowings	653.742	768.012	886.280
Total borrowings	699.204	1,428.031	1,981.797
Debt/Equity ratio	4.910	4.087	4.542

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	1018.840	2442.100	2762.749
		139.694	13.130

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	1018.840	2442.100	2762.749
Profit	92.397	159.333	87.481
	9.07%	6.52%	3.17%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	Yes
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	Yes
25]	Conduct of the banking account	--
26]	Buyer visit details	--
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	PAN of Proprietor/Partner/Director, if available	Yes
32]	Date of Birth of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

Unsecured Loan	As on 31.03.2013 [Rs. in Millions]	As on 31.03.2012 [Rs. in Millions]
Short Term Borrowings
Loans and advances from related parties	606.035	552.966
TOTAL	606.035	552.966

INDEX OF CHARGES:

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10430103	22/05/2013	119,500,000.00	THE SARASWAT COOPERATIVE BANK LIMITED	SME VILE PARLE BRANCH, BHOLANATH CO-OPERATIVE HOUSING SOCIETY, SUBHASH ROAD, VILE PARLE (EAST), MUMBAI - 400057, MAHARASHTRA, INDIA	B76675487
2	10422501	12/04/2013	60,000,000.00	THE SARASWAT COOPERATIVE BANK LIMITED	SME VILE PARLE BRANCH, BHOLANATH CO-OPERATIVE HOUSING SOCIETY, SUBHASH ROAD, VILE PARLE (EAST), MUMBAI - 400057, MAHARASHTRA, INDIA	B73948614
3	10422503	06/04/2013	58,500,000.00	THE SARASWAT COOPERATIVE BANK LIMITED	SME VILE PARLE BRANCH, BHOLANATH CO-OPERATIVE HOUSING SOCIETY, SUBHASH ROAD, VILE PARLE (EAST), MUMBAI - 400057, MAHARASHTRA, INDIA	B73948143
4	10401462	18/01/2013	69,300,000.00	THE SARASWAT COOPERATIVE BANK LIMITED	SME VILE PARLE BRANCH, BHOLANATH CO-OPERATIVE HOUSING SOCIETY, SUBHASH ROAD, VILE PARLE (EAST), MUMBAI - 400057, MAHARASHTRA, INDIA	B67338442
5	10383485	18/09/2012	36,500,000.00	THE SARASWAT COOPERATIVE BANK LIMITED	SME VILE PARLE BRANCH, BHOLANATH CO-OPERATIVE HOUSING SOCIETY, SUBHASH ROAD, VILE PARLE (EAST), MUMBAI - 400057, MAHARASHTRA, INDIA	B60903606
6	10443347	31/08/2012	37,500,000.00	THE SHAMRAO VITHAL COOP BANK LIMITED	VERSOVA : 7 SARKAR CORNER, J.P ROAD, NEAR ANDHERI SPORTS COMPLEX, ANDHERI (WEST), MUMBAI - 400058, MAHARASHTRA, INDIA	B77652790
7	10377601	31/08/2012	243,500,000.00	THE SARASWAT COOPERATIVE BANK LIMITED	SME VILE PARLE BRANCH, BHOLANATH CO-OPERATIVE HOUSING SOCIETY, SUBHASH ROAD, VILE PARLE (EAST), MUMBAI - 400057, MAHARASHTRA, INDIA	B58487109
8	10355488	11/05/2012	53,500,000.00	THE SARASWAT COOPERATIVE BANK LIMITED	SME VILE PARLE BRANCH, BHOLANATH CO-OPERATIVE HOUSING SOCIETY, SUBHASH ROAD, VILE PARLE (EAST), MUMBAI - 400057, MAHARASHTRA, INDIA	B39555842
9	10354758	05/05/2012	180,000,000.00	THE SARASWAT COOPERATIVE BANK LIMITED	SME VILE PARLE BRANCH, BHOLANATH CO-OPERATIVE HOUSING SOCIETY, SUBHASH ROAD, VILE PARLE (EAST), MUMBAI - 400057, MAHARASHTRA, INDIA	B39319629
10	10353531	14/08/2012 *	400,000,000.00	THE SHAMRAO VITHAL CO-OPERATIVE BANK LIMITED	7, SARKAR CORNER, J.P ROAD, NEAR ANDHERI SPORTS COMPLEX, ANDHERI (WEST), MUMBAI - 400058, MAHARASHTRA, INDIA	B57138430
11	10353711	27/04/2012	40,000,000.00	THE SHAMRAO VITHAL CO-OPERATIVE BANK LIMITED	7, SARKAR CORNER, J.P ROAD, NEAR ANDHERI SPORTS COMPLEX, ANDHERI (WEST), MUMBAI - 400058, MAHARASHTRA, INDIA	B38929758
12	10353707	27/04/2012	60,000,000.00	THE SHAMRAO VITHAL CO-OPERATIVE BANK LIMITED	7, SARKAR CORNER, J.P ROAD, NEAR ANDHERI SPORTS COMPLEX, ANDHERI (WEST), MUMBAI - 400058, MAHARASHTRA, INDIA	B38929253
13	10353542	27/04/2012	100,000,000.00	THE SHAMRAO VITHAL CO-OPERATIVE BANK LIMITED	7, SARKAR CORNER, J.P ROAD, NEAR ANDHERI SPORTS COMPLEX, ANDHERI (WEST), MUMBAI - 400058, MAHARASHTRA, INDIA	B38881231
14	10346025	13/03/2012	144,000,000.00	THE SARASWAT COOPERATIVE BANK LIMITED	SME VILE PARLE BRANCH, BHOLANATH CO-OPERATIVE HOUSING SOCIETY, SUBHASH ROAD, VILE PARLE (EAST), MUMBAI - 400057, MAHARASHTRA, INDIA	B36478022
15	10323514	28/05/2012 *	61,800,000.00	THE SARASWAT COOPERATIVE BANK LIMITED	SME VILE PARLE BRANCH, BHOLANATH CO-OPERATIVE HOUSING SOCIETY, SUBHASH ROAD, VILE PARLE (EAST), MUMBAI - 400057, MAHARASHTRA, INDIA	B40834616
16	10323511	28/05/2012 *	27,500,000.00	THE SARASWAT COOPERATIVE BANK LIMITED	SME VILE PARLE BRANCH, BHOLANATH CO-OPERATIVE HOUSING SOCIETY, SUBHASH ROAD, VILE PARLE (EAST), MUMBAI - 400057, MAHARASHTRA, INDIA	B40834541
17	10322078	28/05/2012 *	146,300,000.00	THE SARASWAT COOPERATIVE BANK LIMITED	SME VILE PARLE BRANCH, BHOLANATH CO-OPERATIVE HOUSING SOCIETY, SUBHASH ROAD, VILE PARLE (EAST), MUMBAI - 400057, MAHARASHTRA, INDIA	B40834673
18	10320117	28/05/2012 *	239,900,000.00	THE SARASWAT COOPERATIVE BANK LIMITED	SME VILE PARLE BRANCH, BHOLANATH CO-OPERATIVE HOUSING SOCIETY, SUBHASH ROAD, VILE PARLE (EAST), MUMBAI - 400057, MAHARASHTRA, INDIA	B40834715
19	10278863	31/03/2011	360,000,000.00	THE SARASWAT COOPERATIVE BANK LIMITED	SME VILE PARLE BRANCH, BHOLANATH CO-OPERATIVE HOUSING SOCIETY, SUBHASH ROAD, VILE PARLE (EAST), MUMBAI - 400057, MAHARASHTRA, INDIA	B10176964
20	10274872	23/03/2011 *	245,000,000.00	THE SARASWAT COOPERATIVE BANK LIMITED	SME VILE PARLE BRANCH, BHOLANATH CO-OPERATIVE HOUSING SOCIETY, SUBHASH ROAD, VILE PARLE (EAST), MUMBAI - 400057, MAHARASHTRA, INDIA	B10176535
21	10272944	11/02/2011	2,000,000.00	THE SARASWAT COOPERATIVE BANK LIMITED	SME VILE PARLE BRANCH, BHOLANATH CO-OPERATIVE HOUSING SOCIETY, SUBHASH ROAD, VILE PARLE (EAST), MUMBAI - 400057, MAHARASHTRA, INDIA	B07204746
22	10244716	20/07/2013 *	2,017,350,000.00	THE SARASWAT COOPERATIVE BANK LIMITED	SME VILE PARLE BRANCH, BHOLANATH CO-OPERATIVE HOUSING SOCIETY, SUBHASH ROAD, VILE PARLE (EAST), MUMBAI - 400057, MAHARASHTRA, INDIA	B80735954

* Date of charge modification

FIXED ASSETS:

· Land

· Buildings

· Plant and Equipment

· Furniture and Fixtures

· Vehicles

· Office Equipment

· Computer Equipments

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.60.10
UK Pound	1	Rs.99.85
Euro	1	Rs.82.57

INFORMATION DETAILS

Information Gathered by :	SVA
Report Prepared by :	TPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--CREDIT LINES	1~10	3
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		30

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.