MIRA INFORM REPORT

Report Date :

17.11.2014

IDENTIFICATION DETAILS

Name :	SONAL GARMENTS (INDIA) PRIVATE LIMITED
Registered Office :	134/A, Mittal Court, 224, Nariman Point, Mumbai – 400021, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	24.11.2006
Com. Reg. No.:	11-165793
Capital Investment / Paid-up Capital :	Rs. 150.000 Millions
CIN No.: [Company Identification No.]	U18101MH2006PTC165793
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	BLRS04256A
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Private Limited Liability Company.
Line of Business :	Manufacturer of Garments – Men’s, Ladies and Kids.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

C

RATING		STATUS	PROPOSED CREDIT LINE
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

Status :	Under Liquidation
Payment Behaviour :	--
Litigation :	--
Comments :	Subject is a company which has registered for liquidation proceedings with the statutory authorities. Moreover, the subject along with its directors have defaulted hefty sums with various public as well as private banks such as Corporation Bank and Yes Bank during quarter ending June 2013 as well as June 2014. Hence, being under liquidation proceedings, the company should not be considered for any business dealings.

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 – June 1, 2014

Country Name	Previous Rating (31.03.2014)	Current Rating (01.06.2014)
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

Verdict Implications : Apex court order may alter coal import dynamics. Traders go slow on talks over coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.

Recent arrest of the Chennai head of the Registrar of Companies, the ministry of corporate affairs arm that ensures that companies file all the information required by the Companies Act is the latest manifestation of a messy fight between a father and his adopted son for the control of Rs 40000 mn business empire. The Central Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as bribe from M A M Ramaswamy, a CBI official said.

Central Bureau of Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.

Infosys maintains revenue guidance. COO Rao says attrition still an area of concern and it would take a few more quarters to bring down levels to 13-15 %.

DHL  to invest Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its e-commerce business model for the Asia-Pacific region.

Blackstone may buy stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.

Kingfisher Airlines Ltd grounded in October 2012 under the weight of heavy debt and accumulated losses, recently approached the Delhi high court for relief in two separate cases. The airline challenged a notice by Punjab & National Bank alleging that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to comply with the requirements under the listing agreements with the Stock Exchanges.

OnMobile likely to sack another 300 employees. The lay-offs follow a spate of senior-level exits over the past two years, starting with of its founder. The overall lay-offs could number around 600 and are driven by the need to cut costs, says a former employee.

RBI DEFAULTERS’ LIST STATUS

Subject’s name has been found enlisted as a defaulter in the publicly available RBI Defaulters’ list and the details of the same are as under:

Name of Directors Reported by Credit Grantors Filing the Suit:

Sr.No.	Directors Reported by Credit Grantors
CORPORATION BANK
1	ANIRUDH AGARWAL
2	ANOOP KUMAR AGARWAL
3	NAVIN KUMAR AGARWAL
4	PRATIK AGARWAL
5	PRAVEEN KUMAR AGARWAL

List of Credit Grantors to which SONAL GARMENTS INDIA PRIVATE LIMITED is a defaulter:

Names of Credit Grantors	Branch	Amount  (Rs. in Lacs)
CORPORATION BANK	MUMBAI-OVERSEAS	4,080.00
	Total	4,080.00

Name of Directors Reported by Credit Grantors Filing the Suit:

Sr.No.	Directors Reported by Credit Grantors
CORPORATION BANK
1	ANIRUDH AGARWAL
2	ANKIT AGARWAL
3	ANOOP KUMAR AGARWAL
4	NAVIN KUMAR AGARWAL
5	PRATIK AGARWAL
6	PRAVEEN KUMAR AGARWAL
7	UDIT AGARWAL

List of Credit Grantors to which SONAL GARMENTS INDIA PRIVATE LIMITED is a defaulter:

Names of Credit Grantors	Branch	Amount  (Rs. in Lacs)
CORPORATION BANK	MUMBAI-OVERSEAS	2,405.64
	Total	2,405.64

Name of Directors Reported by Credit Grantors Filing the Suit:

Sr.No.	Directors Reported by Credit Grantors
YES BANK
1	ANIRUDH AGARWAL
2	ANUP AGARWAL
3	NAVIN AGARWAL
4	PRAVIN AGARWAL

List of Credit Grantors to which SONAL GARMENTS INDIA PRIVATE LIMITED is a defaulter:

Names of Credit Grantors	Branch	Amount  (Rs. in Lacs)
YES BANK	NEHRU CENTRE , MUMBAI	445.62
	Total	445.62

Name of Directors Reported by Credit Grantors Filing the Suit:

Sr.No.	Directors Reported by Credit Grantors
YES BANK
1	ANIRUDH AGARWAL
2	ANUP AGARWAL
3	NAVIN AGARWAL
4	PRAVIN AGARWAL

List of Credit Grantors to which SONAL GARMENTS INDIA PRIVATE LIMITED is a defaulter:

Names of Credit Grantors	Branch	Amount  (Rs. in Lacs)
YES BANK	NEHRU CENTRE , MUMBAI	342.00
	Total	342.00

Name of Directors Reported by Credit Grantors Filing the Suit:

Sr.No.	Directors Reported by Credit Grantors
CORPORATION BANK
1	ANIRUDH AGARWAL
2	ANKIT AGARWAL
3	ANOOP KUMAR AGARWAL
4	NAVIN KUMAR AGARWAL
5	PRATIK AGARWAL
6	PRAVEEN AGARWAL
7	PRAVEEN KUMAR AGARWAL
8	UDIT AGARWAL

List of Credit Grantors to which SONAL GARMENTS INDIA PRIVATE LIMITED is a defaulter:

Names of Credit Grantors	Branch	Amount  (Rs. in Lacs)
CORPORATION BANK	MUMBAI-OVERSEAS	4,080.00
	Total	4,080.00

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

INFORMATION DENIED

Management Non Co-Operative.

LOCATIONS

Registered Office :	134/A, Mittal Court, 224, Nariman Point, Mumbai – 400021, Maharashtra, India
Tel. No.:	91-22-30459460
Fax No.:	91-22-30459500
E-Mail :	murali@sonalgarments.com bom@sonalgarments.com blr@sonalgarments.com del@sonalgarments.com
Corporate Office :	C Wing, 3^rd Floor, Madhu Industrial Estate, Mahalaxmi, Mumbai – 400011, Maharashtra, India
Tel. No.:	91-22-30414000
Fax No.:	91-22-30414100
E-Mail :	florence@sonalgarments.com
Area :	12685 sq. ft.
Location :	Rented
Corporate Office 2 :	Ril Module 1, Fosbery, Reay Road East, Mumbai – 400 033, Maharashtra, India
Tel. No.:	91-80-25137900
Fax No.:	91-80-23373758
Branch Office :	D/9-3, Okhla Industrial Area, Phase - II, New Delhi 110 020, India
Tel. No.:	91-11-2638963 / 41612663
Fax No.:	91-11-41612661
E-Mail :	del@sonalgarments.com
Area :	10000 sq. ft.
Location :	Owned
Unit 1 :	67/6, Vinay Mansion Industrial Suburb, II Stage, Yeshwant Pur, Bangalore 560 022, Karnataka, India
Area :	18000 sq. ft.
Location :	Owned
Unit 2 :	97/98, III Phase, Peenya Industrial Area, Bangalore 560 058, Karnataka, India
Area :	44000 sq. ft.
Location :	Owned
Unit 3 :	79, Industrial Suburb, II Stage, 40^th Main Road, Yeshwantpur, Bangalore 560 022, Karnataka, India
Tel No.:	91-80-41459000
Fax No.:	91-80-23373758
E-Mail :	blr@sonalgarments.com
Area :	1600 sq. ft.
Location :	Owned

DIRECTORS

As On 31.08.2010

Name :

Pravin Tarachand Agarwal

Designation :

Director

Address :

4 – Sona Marg, 67, B Nepeansea Road, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

16.05.1955

Date of Appointment :

24.11.2006

DIN No.:

00162628

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	U74899DL1973PLC006582	WOOL SPUNS LIMITED	Director	01/01/1991	01/01/1991	03/10/2008	Active	NO
2	U51909DL1984PLC018740	YASH GLOBAL LIMITED	Director	01/06/1992	01/06/1992	20/08/2008	Active	NO
3	U52322KA1994PTC016084	GLORY BOYS APPARELS PRIVATE LIMITED	Director	30/09/2011	18/08/1994	15/10/2014	Active	NO
4	U74899DL1978NPL008877	APPAREL EXPORT PROMOTION COUNCIL.	Director	26/09/2014	28/09/1996	-	Active	NO
5	U72200MH2001PTC130982	INFOSOFTWARE INDIA PRIVATE LIMITED	Director	23/12/2001	23/12/2001	-	Dormant	NO
6	U18101MH2006PTC165793	SONAL GARMENTS (INDIA) PRIVATE LIMITED	Director	24/11/2006	24/11/2006	-	Under liquidation	NO
7	U51900MH1985PTC037708	Knit Faktory (Retail) Private Limited	Additional director	19/10/2007	19/10/2007	-	Active	NO
8	U51900MH1998PTC115620	SWALS EXIM PRIVATE LIMITED	Additional director	16/01/2008	16/01/2008	02/02/2009	Active	YES
9	U74120MH2012PTC227860	Star Plus Trading Private Limited	Director	09/03/2012	09/03/2012	-	Active	NO
10	U74120MH2012PTC228676	Pan Creation Trading Private Limited	Director	26/03/2012	26/03/2012	-	Active	NO
11	U51900MH2010PTC210240	Adya Shakti Mercantile Private Limited	Additional director	23/09/2014	23/09/2014	-	Active	NO

Name :

Navin Tarachand Agarwal

Designation :

Director

Address :

D 14, Tanhee Hights, Nepeansea Road, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

23.07.1956

Date of Appointment :

24.11.2006

DIN No.:

00162637

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	U30007MH1978PTC020569	DIGITRON COMPUTERS PRIVATE LIMITED	Director	18/04/1989	18/04/1989	-	Active	NO
2	U29299MH1984PTC031749	DIGITRON ELEDCTRONICS PVT LTD	Director	18/04/1989	18/04/1989	-	Active	NO
3	U52322KA1994PTC016406	SONEX FASHIONS PRIVATE LIMITED	Director	17/10/1994	17/10/1994	01/08/2009	Active	NO
4	U72200MH2001PTC130982	INFOSOFTWARE INDIA PRIVATE LIMITED	Director	23/12/2001	23/12/2001	-	Dormant	NO
5	U18101KA2002PTC031098	SPAN GLOBAL PRIVATE LIMITED	Director	08/10/2002	08/10/2002	-	Active	NO
6	U18101MH2006PTC165793	SONAL GARMENTS (INDIA) PRIVATE LIMITED	Director	24/11/2006	24/11/2006	-	Under liquidation	NO
7	U51900MH1985PTC037708	Knit Faktory (Retail) Private Limited	Additional director	19/10/2007	19/10/2007	-	Active	NO
8	U51900MH1998PTC115620	SWALS EXIM PRIVATE LIMITED	Additional director	16/01/2008	16/01/2008	-	Active	YES
9	U74120MH2012PTC227860	Star Plus Trading Private Limited	Director	09/03/2012	09/03/2012	-	Active	NO
10	U74120MH2012PTC228676	Pan Creation Trading Private Limited	Director	26/03/2012	26/03/2012	-	Active	NO

Name :

Anup Tarachand Agarwal

Designation :

Director

Address :

17 Sankey Road, Bangalore – 560058, Karnataka, India

Date of Birth/Age :

07.03.1956

Date of Appointment :

24.11.2006

DIN No.:

00162639

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	U52322KA1994PTC016084	GLORY BOYS APPARELS PRIVATE LIMITED	Director	18/08/1994	18/08/1994	01/07/2009	Active	NO
2	U52322KA1994PTC016406	SONEX FASHIONS PRIVATE LIMITED	Whole-time director	01/10/2009	30/09/1995	-	Active	NO
3	U51900MH1985PTC037708	Knit Faktory (Retail) Private Limited	Director	29/05/1998	29/05/1998	15/11/2007	Active	NO
4	U17121KA1997PTC022591	FASHION IMPEX PRIVATE LIMITED	Director	30/09/1998	30/09/1998	21/07/2011	Active	NO
5	U18101KA2002PTC031098	SPAN GLOBAL PRIVATE LIMITED	Director	08/10/2002	08/10/2002	-	Active	NO
6	U18101MH2006PTC165793	SONAL GARMENTS (INDIA) PRIVATE LIMITED	Director	24/11/2006	24/11/2006	-	Under liquidation	NO
7	U52322KA1995PTC018528	BANGLORE SHIRT COMPANY PRIVATE LIMITED	Director	28/09/2007	21/08/2007	01/07/2009	Active	NO
8	U18101DL1996PTC078639	NIKITAN INTERNATIONAL PRIVATE LIMITED	Director	20/12/2007	20/12/2007	-	Strike off	NO
9	U51900MH1998PTC115620	SWALS EXIM PRIVATE LIMITED	Additional director	16/01/2008	16/01/2008	02/02/2009	Active	YES
10	U74120MH2012PTC227860	Star Plus Trading Private Limited	Director	09/03/2012	09/03/2012	-	Active	NO
11	U74120MH2012PTC228676	Pan Creation Trading Private Limited	Director	26/03/2012	26/03/2012	-	Active	NO

Name :

Anirudh Gangadhar Agarwal

Designation :

Director

Address :

B – 487, New Friends Colony, New Delhi – 110065, India

Date of Birth/Age :

20.12.1967

Date of Appointment :

24.11.2006

DIN No.:

00162643

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	U51909DL1984PLC018740	YASH GLOBAL LIMITED	Director	01/06/1992	01/06/1992	01/10/2008	Active	NO
2	U74899DL1973PLC006582	WOOL SPUNS LIMITED	Director	24/12/1993	24/12/1993	03/10/2008	Active	NO
3	U17309DL1995PLC070398	SONAL INTERTREND LIMITED	Director	03/07/1995	03/07/1995	-	Active	NO
4	U52322KA1995PTC018528	BANGLORE SHIRT COMPANY PRIVATE LIMITED	Director	11/08/1995	11/08/1995	21/08/2007	Active	NO
5	U18101DL1996PTC078639	NIKITAN INTERNATIONAL PRIVATE LIMITED	Director	02/05/1996	02/05/1996	-	Strike off	NO
6	U17120RJ1974PTC046240	SWASTIKA WOOLLEN INDUSTRIES PRIVATE LIMITED	Director	16/08/1996	16/08/1996	26/09/2007	Active	NO
7	U18101MH2006PTC165793	SONAL GARMENTS (INDIA) PRIVATE LIMITED	Director	24/11/2006	24/11/2006	-	Under liquidation	NO
8	U74120MH2012PTC227860	Star Plus Trading Private Limited	Director	09/03/2012	09/03/2012	-	Active	NO
9	U74120MH2012PTC228676	Pan Creation Trading Private Limited	Director	26/03/2012	26/03/2012	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 31.08.2010

Names of Shareholders	No. of Shares
Pravin Tarachand Agarwal	3072325
Navin Tarachand Agarwal	2518210
Anup Tarachand Agarwal	2844205
Anirudh Gangadhar Agarwal	3327575
Pratik Navin Agarwal	250000
Ankit Navin Agarwal	250000
Udit Anup Agarwal	250000
Mrs. Ushadevi Agarwal	1000
Mrs. Pushpadevi Agarwal	2073320
Mr. Gangadhar Agarwal	159865
Gangadhar Agarwal (HUF)	250500
Asha Agarwal	1500
Mridula Agarwal	1500
Total	15000000

As on 31.08.2010

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Garments – Men’s, Ladies and Kids.
Products :	Not Available
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :
Products :	Not Available
Countries :	Not Available
Imports :
Products :	Not Available
Countries :	Not Available
Terms :
Selling :	Not Available
Purchasing :	Not Available

GENERAL INFORMATION

Suppliers :

Not Available

Customers :

Not Available

No. of Employees :

Not Available

Bankers :

• Corporation Bank, No.45/C, Near APMC Gate, Tumkur Road, Yeshwanthpur, Bangalore – 560022, Karnataka, India
• Union Bank of India, Industrial Fiance Branch, Mumbai, 1^st Floor, Union Bank Bhavan, 239, V. B. Marg, Mumbai – 400021, Maharashtra, India
• ING Vysya Bank Limited, Mittal Towers A-Wing Ground Floor 210, Nariman Point, Mumbai – 400021, Maharashtra, India

Facilities :

SECURED LOANS	31.03.2010 (Rs. in Millions)	31.03.2009 (Rs. in Millions)
Short Term Borrowing from Banks	749.670	857.852
Long Term Borrowing from Banks	292.969	160.646
Total	1042.639	1018.498

Auditors :
Name :	A.K. Mehta Chartered Accountants
Address :	101, Krishna Heritage, Link Road, Opposite Don Bosco School, Borivali (West), Mumbai – 400091, Maharashtra, India
PAN No.:	AAFBM9962Q
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Bangalore Shirt Company Private Limited Glory Boys Apparel Private Limited Sonex Fashion Private Limited Span Global Private Limited

CAPITAL STRUCTURE

As On 31.08.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
15,000,000	Equity Shares	Rs. 10/- each	Rs. 150.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
15,000,000	Equity Shares	Rs. 10/- each	Rs. 150.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		150.000	150.000	50.025
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		147.415	147.415	15.337
4] (Accumulated Losses)		(1142.785)	(143.157)	0.000
NETWORTH		(845.370)	154.258	65.362
LOAN FUNDS
1] Secured Loans		1042.639	1018.498	795.070
2] Unsecured Loans		46.398	51.408	248.593
TOTAL BORROWING		1089.037	1069.906	1043.663
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		243.667	1224.164	1109.025
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		236.701	272.763	300.262
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.002	0.002	0.002
DEFERRED TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	14.821	539.060	449.938
	Sundry Debtors	83.932	623.985	408.778
	Cash & Bank Balances	5.120	56.175	36.916
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	162.195	346.555	245.822
Total Current Assets		266.068	1565.775	1141.454
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.000	0.000	0.000
	Other Current Liabilities	255.767	611.346	330.462
	Provisions	3.955	3.955	2.938
Total Current Liabilities		259.722	615.301	333.400
Net Current Assets		6.346	950.474	808.054
MISCELLANEOUS EXPENSES		0.618	0.925	0.707
TOTAL		243.667	1224.164	1109.025

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010
	SALES
		TOTAL	582.096
Less	EXPENSES
		TOTAL	1581.477
	PROFIT/ (LOSS) BEFORE TAX		(999.381)
Less	TAX		0.246
	PROFIT/ (LOSS) AFTER TAX		(999.627)
	BALANCE CARRIED TO THE B/S		(999.627)
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	331.520
	TOTAL EARNINGS		331.520
	IMPORTS
		Raw Materials	31.182
	TOTAL IMPORTS		31.182
	Earnings / (Loss) Per Share (Rs.)		0.00

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
Return on Total Assets (PBT/Total Assets}	(%)	(411.18)	NA	NA
Return on Investment (ROI) (PBT/Networth)		(1.18)	NA	NA
Debt Equity Ratio (Total Liability/Networth)		(0.30)	3.98	5.10
Current Ratio (Current Asset/Current Liability)		1.02	2.54	3.42

CHARGES

ENTITY	PERSON	COMPETENT AUTHORITY	REGULATORY CHARGES	REGULATORY ACTION(S) / DATE OF ORDER	FURTHER DEVELOPMENTS
SONAL GARMENTS INDIAPVT.LTD.		EPFO	EXEMPTED AND UNEXEMPTED ESTABLISHMENTS DEFAULTED WITH EPFO INCLUDING PROVIDENT FUND, PENSION & EDLI CONTRIBUTION, ADMINISTRATION CHARGES & PENAL DAMAGES OF RS.107.25 LAKHS	AMONG OTHER ACTIONS, NAMES OF DEFAULTERS PUT ON THE EPFO WEBSITE 31-MAR-2012

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	Yes
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last one years	Yes
12]	Profitability for last one 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	----------------------
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	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10187274	06/11/2009	60,000,000.00	CORPORATION BANK	NO.45/C, NEAR APMC GATE, TUMKUR ROAD, YESHWANTHPU  R, BANGALORE, Karnataka - 560022, INDIA	A73735151
2	10173715	25/09/2009 *	27,000,000.00	Union Bank of India	Industrial Fiance branch, Mumbai, 1st floor, Unio  n Bank Bhavan, 239, V B Marg, Mumbai, Maharashtra  - 400021, INDIA	A71781744
3	10166365	25/09/2009 *	63,000,000.00	CORPORATION BANK	OVERSEAS BRANCH, 1ST, FLOOR, EARNEST HOUSE, NARIM  AN POINT, Maharashtra - 400021, INDIA	A71370027
4	10152989	25/09/2009 *	90,000,000.00	ING VYSYA BANK LIMITED	MITTAL TOWERS A-WING GROUND FLOOR 210, NARIMAN PO  INT, MUMBAI, Maharashtra - 400021, INDIA	A70765342
5	10141101	27/12/2008	17,000,000.00	STANDARD CHARTERED BANK	STANDARD CHARTERED TOWER,, 201, B/1 WESTERN EXPRE  SS HIGHWAY, GOREGAON (E), MUMBAI, Maharashtra - 40  0063, INDIA	A56017445
6	10127400	01/10/2008	15,000,000.00	CORPORATION BANK	OVERSEAS BRANCH, EARNEST HOUSE, 1ST FLOOR, NARIMA  N POINT,, MUMBAI, Maharashtra - 400021, INDIA	A49238835
7	10067589	01/09/2007	20,000,000.00	CORPORATION BANK	OVERSEAS BRANCH, EARNEST HOUSE,, NARIMAN POINT, M  UMBAI, Maharashtra - 400021, INDIA	A23060858
8	10062849	25/09/2009 *	1,030,000,000.00	ING VYSYA BANK LIMITED	MITTAL TOWERS A-WING GROUND FLOOR 210, NARIMAN PO  INT, MUMBAI, Maharashtra - 400021, INDIA	A70762679
9	10055765	26/04/2007	25,000,000.00	ING VYSYA BANK LIMITED	MITTAL TOWERS,A-WING GROUND FLOOR,, 210 NARIMAN P  OINT,, MUMBAI, Maharashtra - 400021, INDIA	A16899551
10	10131483	24/11/2006	39,600,000.00	CORPORATION BANK	OVERSEAS BRANCH, NARIMAN POINT, MUMBAI, Maharasht  ra - 400021, INDIA	A39306485

* Date of charge modification

UNSECURED LOANS

PARTICULAR	31.03.2010 (Rs. in Millions)	31.03.2009 (Rs. in Millions)
From Banks	44.221	49.034
From Directors	2.155	0.274
From Shareholders	0.022	1.236
From Others	0.000	0.864
Total	46.398	51.408

FIXED ASSETS

• Buildings
• Office Premises
• Plant and Machinery
• Washing Machine
• Computer Software
• Air Conditioner
• Air Coolers
• Computers
• Office Equipments
• Telephone Instruments

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. 61.64
UK Pound	1	Rs. 96.54
Euro	1	Rs. 76.69

INFORMATION DETAILS

Information Gathered by :	SUV
Analysis Done by :	SUB
Report Prepared by :	JYO

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.