MIRA INFORM REPORT

Report Date :

25.11.2014

IDENTIFICATION DETAILS

Name :	RASHTRIYA METAL INDUSTRIES LIMITED

Registered Office :	Sir M. V. Road, J. B. Nagar, Andheri (East) Mumbai – 400059, Maharashtra

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	28.11.1946

Com. Reg. No.:	11-005378

Capital Investment / Paid-up Capital :	Rs.65.130 Millions

CIN No.: [Company Identification No.]	U99999MH1946PLC005378

TAN No.: [Tax Deduction & Collection Account No.]	MUMR14494E

PAN No.: [Permanent Account No.]	AAACR3982P

Legal Form :	A Closely Held Public Limited Liability Company

Line of Business :	Manufacturer, Exporter and Importer of Non-ferrous Semis and Copper Alloys.

No. of Employees :	100 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Maximum Credit Limit :	USD 1900000

Status :	Satisfactory

Payment Behaviour :	Usually correct

Litigation :	Clear

Comments :	Subject is an established company having satisfactory track record. There seems a significant growth in the company turnover and profit during FY 2014. General financial position of the company is good. Trade relations are reported as fair. Business is active. Payments terms are reported to be usually correct. The company can be considered normal for business dealings at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – June 1, 2014

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

India

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.

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long term bank facilities = BBB -
Rating Explanation	Moderate degree of safety. It carry moderate credit risk.
Date	September 17, 2013

Rating Agency Name	CARE
Rating	Short term bank facilities = A3
Rating Explanation	Moderate degree of safety. It carry higher credit risk.
Date	September 17, 2013

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

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

INFORMATION PARTED BY (GENERAL INFORMATION)

Name :	Mr. Abhishekh
Designation :	Commercial Officer
Contact No.:	91-22-56923311
Date :	20.11.2014

LOCATIONS

Registered Office / Factory 1 :	Sir M. V. Road, J. B. Nagar, Andheri (East) Mumbai – 400059, Maharashtra, India
Tel. No.:	91-22-56923311 / 28323311
Fax No.:	91-22-28366366
E-Mail :	purchase@rashtriyametal.com
Website :	www.rashtriyametal.com
Location :	Owned

Factory 2 :	Plot No.3810, GIDC Sarigam, Valsad – 396155, Gujarat, India

DIRECTORS

Name :

Mr. Premratan Damani

Designation :

Director

Address :

Mafatlal House, Gr. Floor, S.T. Parekh Marg, Mumbai – 400020, Maharashtra, India

Date of Birth/Age :

15.05.1936

Date of Appointment :

29.02.1982

DIN No.:

00030400

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	L17111PN1907PLC000258	THE JAMSHRI RANJITSINGHJI SPINNING AND WEAVING MILLS COMPANY LIMITED	Managing director	24/05/2010	21/07/1966	-	Active	NO
2	U70100MH1971PTC015031	LOTUS PROPERTIES PRIVATE LIMITED	Director	02/03/1971	02/03/1971	-	Active	NO
3	U99999MH1946PLC005378	RASHTRIYA METAL INDUSTRIES LIMITED	Director	28/02/1982	28/02/1982	-	Active	NO
4
L22100WB1941PLC119187	BINANI METALS LTD	Director	13/02/1984	13/02/1984	24/10/2011	Active	NO
5	U55101MH1988PTC048549	NANDINI APPARTMENTS PRIVATE LIMITED	Director	18/08/1988	18/08/1988	-	Active	NO
6	U67120MH1983PLC029627	SAMBHAW HOLDINGS LTD	Director	02/07/2007	02/01/2007	24/10/2011	Amalgamated	NO
7	U73100MH1970NPL014686	M.VISVESVARAYA INDUSTRIAL RESEARCH AND DEVELOPMENT CENTRE	Director	27/08/2008	27/08/2008	-	Active	NO
8	L27109PY1982PLC000199	EASTCOAST STEEL LTD	Director	29/09/2010	28/01/2010	10/07/2014	Active	NO
9	U40106MH2010PTC202013	SIMPLEX RENEWABLE RESOURCES PRIVATE LIMITED	Director	12/08/2011	08/12/2010	-	Active	NO
10	U67120MH1997PTC109273	K JAYANTILAL SECURITIES PRIVATE LIMITED	Director	18/11/2011	18/11/2011	16/03/2012	Active	NO

Name :

Mr. Rameshwardas Binani

Designation :

Director

Address :

33 B, Rowland Road, Kolkata – 700 020, West Bengal, India

Date of Birth/Age :

04.11.1938

Date of Appointment :

25.09.1984

DIN No.:

00347822

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	U99999MH1946PLC005378	RASHTRIYA METAL INDUSTRIES LIMITED	Director	25/09/1984	25/09/1984	-	Active	NO
2	U70109WB1988PTC045189	PRAGDAS MATHURADAS PVT LTD	Director	28/10/1988	28/10/1988	-	Active	NO
3	U65921WB1988PTC045315	F B TRADING PVT LTD	Director	20/03/1989	20/03/1989	-	Active	NO

Name :

Mr. Shrikishan Fomra

Designation :

Director

Address :

E-1, 127, Near Global Heart Hospital Chitrakoot, (Vaishali), Jaipur, Rajasthan, India

Date of Birth/Age :

06.02.1940

Date of Appointment :

25.09.1984

DIN No.:

00829166

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	U99999MH1946PLC005378	RASHTRIYA METAL INDUSTRIES LIMITED	Director	25/09/1984	25/09/1984	-	Active	NO
2	U65921WB1988PTC045315	F B TRADING PVT LTD	Director	20/03/1989	20/03/1989	-	Active	NO
3	U51109WB1992PTC057184	SHRUTI RESOURCES PVT LTD	Director	15/12/1992	15/12/1992	-	Active	NO
4	U24231RJ2005PTC021206	GULMARG CHEMICALS PRIVATE LIMITED	Director	02/07/2011	02/07/2011	29/09/2012	Active	NO

Name :

Mr. Chandrakant Bhula

Designation :

Director

Address :

Flat No. 902, 9^th Floor, Shivtapi Apartment, H. Goregaonkar Marg, Gamdevi, Mumbai – 400007, Maharashtra, India

Date of Birth/Age :

01.11.1941

Date of Appointment :

25.09.1984

DIN No.:

00206381

Name :

Mr. Balkirshna Binani

Designation :

Managing Director

Address :

28/30, Anantwadi, Mumbai – 400 020, Maharashtra, India

Date of Birth/Age :

02.01.1951

Qualification :

Post Graduate

Date of Appointment :

01.07.2006

DIN No.:

00175080

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	U51900MH1944PTC004177	BINANI COMMERCIAL CO PRIVATE LIMITED	Director	20/03/1969	20/03/1969	-	Active	NO
2	U99999MH1946PLC005378	RASHTRIYA METAL INDUSTRIES LIMITED	Managing director	01/07/2011	01/07/1971	-	Active	NO
3	U27100MH1942PTC003729	PRAGDAS MATHURADAS (BOMBAY) PVT LTD	Director	07/12/1984	07/12/1984	-	Active	NO
4	U70101MH1989PTC050777	SANTANA PROPERTIES PRIVATE LIMITED	Director	01/03/1989	01/03/1989	-	Active	NO
5	U70101MH1989PTC050773	PONTIAC PROPERTIES PRIVATE LIMITED	Director	01/03/1989	01/03/1989	-	Active	NO
6	L99999MH1950PLC020987	THE NAV BHARAT REFRIGERATION AND INDUSTRIES LIMITED	Director	03/10/1989	03/10/1989	22/08/2011	Active	NO
7	U45200MH1997PTC105861	DEVPRIYA DEVELOPERS PRIVATE LIMITED	Director	14/02/1997	14/02/1997	-	Active	NO
8	L65990MH1985PLC035268	TARRIF CINE AND FINANCE LIMITED	Director	07/10/2004	07/10/2004	-	Active	NO
9	U27320MH2014PTC254791	RASHTRIYA METAL CORPORATION PRIVATE LIMITED	Director	21/03/2014	21/03/2014	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2013

SHAREHOLDERS FILE ATTACHED

As on 30.09.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	66.88
Directors or relatives of Directors	31.43
Other top fifty shareholders	1.69
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer, Exporter and Importer of Non-ferrous Semis and Copper Alloys.

Products :

Item Code No. (ITC Code)	Product Description
74092100	Non Ferrous Metals

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Products :

· Brass Cups

· Brass Strips

Countries :

· USA

· Australia

· Israil

· Singapore

Imports :

Products :

· Raw Material

Countries :

· Germany

· Dubai

· Thailand

· UAE

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

PRODUCTION STATUS = Not Available

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	---
Contact No.:	---
Since How Long Known :	---
Experience :	---
Maximum Limit Dealt :	---

Customers :

Reference :	Not Divulged
Name of the Person :	---
Contact No.:	---
Since How Long Known :	---
Experience :	---
Maximum Limit Dealt :	---

No. of Employees :

100 (Approximately)

Bankers :

Banker Name	Bank Of India
Branch Address	Chakala Branch, Opposite Sangam Cinema, Sir M. V. Road, Andheri (East), Mumbai – 400093, Maharashtra, India
Person Name (With Designation)	Not Divulged
Contact Number	---
Name of Account Holder	---
Account Number	---
Account Since (Date/Year of Account Opening)	---
Average Balance Maintained (If Possible)	---
Credit Facilities Enjoyed (If any)	---
Account Operation	---
Remarks (If any)	---

Banker Name	Bank Of Baroda
Branch Address	Chakala Branch, Opposite Sangam Cinema, Sir M. V. Road, Andheri (East), Mumbai – 400093, Maharashtra, India
Person Name (With Designation)	Not Divulged
Contact Number	---
Name of Account Holder	---
Account Number	---
Account Since (Date/Year of Account Opening)	---
Average Balance Maintained (If Possible)	---
Credit Facilities Enjoyed (If any)	---
Account Operation	---
Remarks (If any)	---

Banker Name	Punjab National Bank
Branch Address	Chakala Branch, Opposite Sangam Cinema, Sir M. V. Road, Andheri (East), Mumbai – 400093, Maharashtra, India
Person Name (With Designation)	Not Divulged
Contact Number	---
Name of Account Holder	---
Account Number	---
Account Since (Date/Year of Account Opening)	---
Average Balance Maintained (If Possible)	---
Credit Facilities Enjoyed (If any)	---
Account Operation	---
Remarks (If any)	---

Banker Name	State Bank Of India
Branch Address	Commercial Circle, Ngn Vaidya Marg, Bank Street, Horniman Circle, Pb No. 10141, Mumbai – 400001, Maharashtra, India
Person Name (With Designation)	Not Divulged
Contact Number	---
Name of Account Holder	---
Account Number	---
Account Since (Date/Year of Account Opening)	---
Average Balance Maintained (If Possible)	---
Credit Facilities Enjoyed (If any)	---
Account Operation	---
Remarks (If any)	---

Banker Name	Yes Bank Limited
Branch Address	9th Floor, Nehru Centre, Discovery Of India, Dr. Annie Besant Road, Worli,, Mumbai - 400018, Maharashtra, India
Person Name (With Designation)	Not Divulged
Contact Number	---
Name of Account Holder	---
Account Number	---
Account Since (Date/Year of Account Opening)	---
Average Balance Maintained (If Possible)	---
Credit Facilities Enjoyed (If any)	---
Account Operation	---
Remarks (If any)	---

Facilities :

SECURED LOANS	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
LONG TERM BORROWINGS
Term Loan	98.737	0.000
Loans taken for fixed assets	10.000	12.972
Rupee term loans from banks	0.000	118.857
Rupee term loans from others	0.000	104.929
SHORT TERM BORROWINGS
Term Loans from banks	507.844	450.414
Total	616.581	687.172


Auditors :
Name :	Chhogmal and Company Chartered Accountants
Address :	206, Apollo Chambers, Mogra Road, Andheri (East), Mumbai – 400 069, Maharashtra, India
PAN No.:	AACFC2079H

Memberships :	---

Collaborators :	---

Sister Concern :	Pragdas Mathuradas (Bom) Private Limited CIN No.: U99999MH1944PTC004190 Binani Commercial Company Private Limited CIN No.: U51900MH1944PTC004177 Vasundhara Developers Private Limited CIN No.: U70100MH1987PTC042305

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

5350000	Equity Shares	Rs.10/-each	Rs.53.500 Million

200000	Equity Shares	Rs.100/-each	Rs.20.000 Million

	Total		Rs.73.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

4513012	Equity Shares	Rs.10/-each	Rs.45.130 Million

200000	Preference Shares	Rs.100/-each	Rs.20.000 Million

	Total		Rs.65.130 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012

I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	65.130	65.130	45.130
(b) Reserves & Surplus	609.790	452.488	402.258
(c) Money received against share warrants	0.000	0.000	0.000

(2) Share Application money pending allotment	0.000	0.000	20.000
Total Shareholders’ Funds (1) + (2)	674.920	517.618	467.388

(3) Non-Current Liabilities
(a) long-term borrowings	109.451	254.602	391.971
(b) Deferred tax liabilities (Net)	79.418	42.020	23.157
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	5.091	8.743	6.853
Total Non-current Liabilities (3)	193.960	305.365	421.981

(4) Current Liabilities
(a) Short term borrowings	610.358	517.047	483.644
(b) Trade payables	564.309	308.540	362.589
(c) Other current liabilities	240.490	213.551	163.958
(d) Short-term provisions	48.368	13.027	0.783
Total Current Liabilities (4)	1463.525	1052.165	1010.974

TOTAL	2332.405	1875.148	1900.343

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	843.519	621.909	625.497
(ii) Intangible Assets	0.547	0.348	0.133
(iii) Capital work-in-progress	161.169	283.029	223.038
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	10.921	18.781	11.823
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	45.955	20.589	14.573
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	1062.111	944.656	875.064

(2) Current assets
(a) Current investments	10.000	0.000	15.000
(b) Inventories	416.326	411.745	450.700
(c) Trade receivables	509.735	298.520	311.474
(d) Cash and cash equivalents	135.213	84.270	85.475
(e) Short-term loans and advances	189.343	66.295	110.332
(f) Other current assets	9.677	69.662	52.298
Total Current Assets	1270.294	930.492	1025.279

TOTAL	2332.405	1875.148	1900.343

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	2863.955	1801.363	1856.466
	Other Income	195.846	214.844	61.799
	TOTAL	3059.801	2016.207	1918.265

Less	EXPENSES
	Cost of Materials Consumed	2213.376	1275.078	1457.950
	Purchases of Stock-in-Trade	0.000	0.000	56.247
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	29.980	45.150	(52.075)
	Employees benefits expense	108.532	99.915	89.348
	Other expenses	307.841	320.647	277.944
	TOTAL	2659.729	1740.790	1829.414

	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	400.072	275.417	88.851

Less	FINANCIAL EXPENSES	137.264	145.377	111.912

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	262.808	130.040	(23.061)

Less/ Add	DEPRECIATION/ AMORTISATION	44.879	42.447	43.741

	PROFIT/ (LOSS) BEFORE TAX	217.929	87.593	(66.802)

Less	TAX	60.627	37.363	(11.570)

	PROFIT/ (LOSS) AFTER TAX	157.302	50.230	(55.232)

	Earnings / (Loss) Per Share (Rs.)	34.86	11.13	(12.24)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012

Net Profit Margin PAT / Sales	(%)	5.14	2.49	(2.88)

Operating Profit Margin (PBDIT/Sales)	(%)	13.96	15.28	4.78

Return on Total Assets (PBT/Total Assets}	(%)	10.09	5.57	(4.01)

Return on Investment (ROI) (PBT/Networth)		0.32	0.17	(0.14)

Debt Equity Ratio (Total Liability/Networth)		1.07	1.49	1.87

Current Ratio (Current Asset/Current Liability)		0.87	0.88	1.01

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Share Capital	45.130	65.130	65.130
Reserves & Surplus	402.258	452.488	609.790
Net worth	447.388	517.618	674.920

long-term borrowings	391.971	254.602	109.451
Short term borrowings	483.644	517.047	610.358
Total borrowings	875.615	771.649	719.809
Debt/Equity ratio	1.957	1.491	1.067

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	1856.466	1801.363	2863.955
		(2.968)	58.988

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	1856.466	1801.363	2863.955
Profit	(55.232)	50.230	157.302
	(2.98%)	2.79%	5.49%

LOCAL AGENCY FURTHER INFORMATION

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

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10514122	29/05/2014	200,000,000.00	FULLERTON INDIA CREDIT COMPANY LIMITED	Megh Towers, Third Floor, Old No-307,, New No-165 , Poonamallee High Road, Maduravoyal,, Chennai, Tamil Nadu - 600095, INDIA	C15781255
2	10496687	15/03/2014	50,000,000.00	Bank of India	Andheri Mid Corporate Branch, 28, MDI BLDG.,, 1st Floor, S.V. Road, Andheri (West),, Mumbai, Maharashtra - 400058, INDIA	C05174073
3	10459040	23/09/2013	113,083,000.00	Bank of India	Andheri Mid Corporate Branch, 28, MDI BLDG.,, 1st Floor, S.V. Road, Andheri (West),, Mumbai, Maharashtra - 400058, INDIA	B89092399
4	10223799	21/05/2010	25,000,000.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,, DR. ANNIE BESANT ROAD, WORLI,, MUMBAI, Maharashtra - 400018, INDIA	A87166427
5	10200191	22/06/2011 *	1,029,900,000.00	State Bank of India	Commercial Branch Mumbai, N.G.N.VAIDYA MARG,, MU MBAI, Maharashtra - 400023, INDIA	B16484602
6	10159661	18/02/2014 *	1,085,900,000.00	State Bank of India	State Bank of India, Fort, Mumbai, Maharashtra - 400001, INDIA	C02393031
7	80033603	22/06/2011 *	557,200,000.00	Bank of India - Lead Bank	Andheri Mid Corporate Branch, BOI Building,, 1st Floor, 28, S V Road, Andheri (West),, Mumbai, Maharashtra - 400058, INDIA	B18270389
8	80033602	03/02/2012 *	557,200,000.00	Bank of India - Lead Bank	Andheri Mid Corporate Br. MDI Building ,, 1st Flo or , 28 S V Road , Andheri (West), Mumbai, Maharashtra - 400058, INDIA	B33911173

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
LONG TERM BORROWINGS
Loans and advances from directors	0.714	1.254
Deposits from others	0.000	16.590
SHORT TERM BORROWINGS
Deposits	102.514	66.633
Total	103.228	84.477

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.62.10
UK Pound	1	Rs.97.31
Euro	1	Rs.77.91

INFORMATION DETAILS

Information Gathered by :	DIP

Analysis Done by :	DIV

Report Prepared by :	PNM

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	4
--MARGINS	-5~5	---
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	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		46

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.

MIRA INFORM REPORT

13.96

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