MIRA INFORM REPORT

Report Date :

10.10.2014

IDENTIFICATION DETAILS

Name :	CLUTCH AUTO LIMITED
Registered Office :	2 – E/14, 1^st Floor, Jhandewallan Extension, New Delhi – 110055
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	13.05.1971
Com. Reg. No.:	55-005634
Capital Investment / Paid-up Capital :	Rs. 187.605 millions
CIN No.: [Company Identification No.]	L34300DL1971PLC005634
TAN No.: [Tax Deduction & Collection Account No.]	DELC05802G
Legal Form :	A Public Limited Liability company. The company’s Share are Listed on the Stock Exchange.
Line of Business :	Manufacturer and Exporter of Clutch.
No. of Employees :	Information decline by the management

RATING & COMMENTS

MIRA’s Rating :

B (26)

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

Maximum Credit Limit :	USD 370000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Exist
Comments :	Subject is an established company having moderate track record. The rating is constrained on account of company’s weak financial risk profile marked by huge accumulated loss incurred during financial year 2014 and below average operational performance of the company. However, trade relations are fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with great 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 – 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 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 DENIED

Management Non-Cooperative (Tel. No. : 91-11-23683548)

LOCATIONS

Registered Office :	2 – E/14, 1^st Floor, Jhandewallan Extension, New Delhi – 110055, India
Tel. No.:	91-11-23683548
Fax No.:	91-11-23683548
E-Mail :	cs@clutchauto.com mraiacs@rediffmail.com
Website :	http://clutchauto.com
Factory / Administrative Office :	Plot No. 173 and 174, Rico Industrial Area, Kaharani, Bhiwadi, Dist. Alwar, Rajasthan-301109,Rajasthan India
E-Mail :	vkm@clutchauto.com cal@giasdl01.vsnl.net.in cal@nda.vsnl.net.in

DIRECTORS

As on 31.03.2014

Name :

Mr. Vijay krishan Mehta

Designation :

Chairman and Managing Director

Address :

S – 217, Greater Kailash Part – 2, New Delhi – 110048, India

Date of Birth/Age :

03.03.1941

Qualification :

B.E. (Mech.)

Experience :

48 Years

Date of Appointment :

26.05.1971

DIN No.:

00053482

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	L34300DL1971PLC005634	CLUTCH AUTO LIMITED	Managing director	26/05/1971	26/05/1971	-	Active	NO
2	U34300DL1981PTC012491	SUPPORT AUTOMOTIVE PRIVATE LIMITED	Director	17/10/1981	17/10/1981	-	Active	NO
3	U74899DL1983PTC015999	ANUJ HOLDING PRIVATE LIMITED	Director	24/06/1983	24/06/1983	25/06/2009	Active	NO
4	U70109DL2011PLC216341	INCREDIBLE HOUSING DEVELOPMENT LIMITED	Director	22/03/2011	22/03/2011	30/07/2012	Active	NO

Name :

Mr. Kewal Krishan Taneja

Designation :

Director

Address :

G – 238, Sarita Vihar, New Delhi – 110076, India

Date of Birth/Age :

23.02.1935

Date of Appointment :

20.08.1997

DIN No.:

00053226

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	L34300DL1971PLC005634	CLUTCH AUTO LIMITED	Director	20/08/1997	20/08/1997	-	Active	NO
2	U26994OR1992PLC003132	ORIND EXPORTS LIMITED.	Director	17/10/1998	17/10/1998	-	Active	NO

Name :

Smt. Pooja KApur

Designation :

Directors

Name :

Mr. Gian NArang

Designation :

Directors

Name :

Mr. Dhirendra N. Chaturvedi

Designation :

Directors

Name :

Mr. Suraj Mohan Khorna

Designation :

Director

KEY EXECUTIVES

Name :	Manish Rai
Designation :	Company Secretary

SHAREHOLDING PATTERN

As on 30.06.2014

Names of Shareholders	No. of Shares	Percentage of Holding
(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	6814318	36.33
Sub Total	6814318	36.33
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	6814318	36.33
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	5350	0.03
Financial Institutions / Banks	3525	0.02
Foreign Institutional Investors	20000	0.11
Sub Total	28875	0.15
(2) Non-Institutions
Bodies Corporate	3754250	20.01
Individuals
Individual shareholders holding nominal share capital up to Rs. 0.100 Million	5804867	30.94
Individual shareholders holding nominal share capital in excess of Rs. 0.100 Million	1961677	10.46
Any Others (Specify)	394893	2.11
Clearing Members	97960	0.52
Trusts	300	0.00
Directors & their Relatives & Friends	10000	0.05
NRIs/OCBs	286633	1.53
Sub Total	11915687	63.52
Total Public shareholding (B)	11944562	63.67
Total (A)+(B)	18758880	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued	0	0.00
(1) Promoter and Promoter Group	0	0.00
(2) Public	0	0.00
Sub Total	0	0.00
Total (A)+(B)+(C)	18758880	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Exporter of Clutch.

Products :

Product Description	ITC Code
Clutch Plate Cover Assembly	87.08
Mettalic Disc	87.10

GENERAL INFORMATION

No. of Employees :

Information decline by the management

Bankers :

· State Bank of Travancore

· State Bank of India

· Central Bank of India

· DBS Bank Ltd.

· Canara Bank

· Export Import Bank of India

Facilities :

SECURED LOAN

(Rs. In Millions)

Particulars	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWINGS
Term Loans Term Loan from bank	4.660	4.444
Term Loans from others	1185.607	1089.599
Working Capital from Banks	390.431	316.418
Funded Interest Term Lon From Bank	41.879	34.031
SHORT TERM BORROWINGS
Loan for Working Capital from Bank
Cash Credit	716.155	365.843
Packing Credit loan (PCL)	60.290	79.261
Bill Discounted	95.229	95.229
Foreign Bills (FOBP)	(3.262)	26.770
Total	2490.989	2011.595

Banking Relations :	---
Auditors :
Name :	S. C. Garg and Associates Chartered Accountants
Address :	171-172, Raheja Place. New Delhi-110008, Delhi, India
Enterprises over which key management personnel are able to exercise significant influence :	· Macas Brakes Automotive Private Limited · Kanav Engineering · C.A. Ancillary · Sai Print and Pack

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
30000000	Equity Shares	Rs.10/- each	Rs. 300.000 Millions

Issued Capital :

No. of Shares	Type	Value	Amount
18765080	Equity Shares	Rs.10/- each	Rs. 187.651 Millions

Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
18758880	Equity Shares	Rs.10/- each	Rs. 187.589 Millions
6200	Add.- Shares Forfeited	Rs. 10/- each	Rs. 0.016 Millions
			Rs. 187.605 Millions

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	187.604	187.604	187.604
(b) Reserves & Surplus	(94.138)	1251.552	1594.680
(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)	93.466	1439.156	1782.284
(3) Non-Current Liabilities
(a) long-term borrowings	2015.055	1614.492	1122.374
(b) Deferred tax liabilities (Net)	14.504	5.750	6.662
(c) Other long term liabilities	85.849	85.497	0.000
(d) long-term provisions	98.939	131.981	71.124
Total Non-current Liabilities (3)	2214.347	1837.720	1200.160
(4) Current Liabilities
(a) Short term borrowings	975.418	648.230	1054.885
(b) Trade payables	85.455	235.659	324.235
(c) Other current liabilities	71.124	94.428	158.938
(d) Short-term provisions	0.000	31.898	33.462
Total Current Liabilities (4)	1131.997	1010.215	1571.520
TOTAL	3439.810	4287.091	4553.964
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1622.285	948.974	986.833
(ii) Intangible Assets	21.614	398.274	421.081
(iii) Capital work-in-progress	0.000	614.275	631.316
(iv) Intangible assets under development	315.811	315.811	315.811
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	223.746	144.934	102.712
(e) Other Non-current assets	858.268	874.500	2.043
Total Non-Current Assets	3041.724	3296.768	2459.796
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	371.499	576.063	663.407
(c) Trade receivables	4.502	323.519	1206.742
(d) Cash and cash equivalents	11.196	15.316	39.671
(e) Short-term loans and advances	10.889	75.425	184.348
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	398.086	990.323	2094.168
TOTAL	3439.810	4287.091	4553.964

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	305.985	954.102	2446.774
		Other Income	0.000	2.510	5.493
		TOTAL (A)	305.985	956.612	2452.267
Less	EXPENSES
		Cost of Materials Consumed	228.347	646.958	1448.942
		Purchases of Stock-in-Trade	193.387	84.490	(36.383)
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	31.845	165.234	196.657
		Employees benefits expense	887.129	0.000	0.000
		Other expenses	69.867	129.867	391.591
		TOTAL (B)	1410.575	1026.549	2000.807
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		(1104.590)	(69.937)	451.460
Less	FINANCIAL EXPENSES (D)		210.358	213.742	210.163
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		(1314.948)	(283.679)	241.297
Less/ Add	DEPRECIATION/ AMORTISATION (F)		35.522	59.390	157.492
	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		(1350.470)	(343.069)	83.805
Less	TAX (H)		(20.770)	(0.912)	5.662
	PROFIT / (LOSS) AFTER TAX (G-H) (I)		(1329.700)	(342.157)	78.143
	Earnings Per Share (Rs.)		(72.23)	(18.57)	4.241

QUARTERLY / SUMMARISED RESULTS

PARTICULARS	OURTER JUNE 2014
Net Sales	8.960
Total Expenditure	9.870
PBIDT (Excl OI)	(0.910)
Other Income	0.000
Operating Profit	(0.910)
Interest	2.270
Exceptional Items	0.000
PBDT	(3.180)
Depreciation	0.860
Profit Before Tax	(4.040)
Tax	0.000
Provisions and contingencies	0.000
Profit After Tax	(4.040)
Extraordinary Items	0.000
Prior Period Expenses	0.000
Other Adjustments	0.000
Net Profit	(4.040)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
PAT / Total Income	(%)	(434.56)	(35.77)	3.19
Net Profit Margin (PBT/Sales)	(%)	(441.35)	(35.96)	3.43
Return on Total Assets (PBT/Total Assets}	(%)	(43.23)	(10.22)	2.32
Return on Investment (ROI) (PBT/Networth)		(14.45)	(0.24)	0.05
Debt Equity Ratio (Total Debt /Networth)		32.00	1.57	0.81
Current Ratio (Current Asset/Current Liability)		0.35	0.98	1.33

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	187.604	187.604	187.604
Reserves & Surplus	1594.680	1251.552	(94.138)
Net worth	1782.284	1439.156	93.466
long-term borrowings	1122.374	1614.492	2015.055
Short term borrowings	324.235	648.230	975.418
Total borrowings	1446.609	2262.722	2990.473
Debt/Equity ratio	0.812	1.572	31.995

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	2446.774	954.102	305.985
		(61.006)	(67.930)

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	2446.774	954.102	305.985
Profit	78.143	(342.157)	(1329.700)
	3.19%	(35.86%)	(434.56%)

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

UNSECURED LOAN

(Rs. In Millions)

Particulars	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWINGS
Term Loan from Others	392.478	169.898
SHORT TERM BORROWINGS
Deposit from Dealers and Suppliers	12.125	13.636
Other loan and advances	94.881	67.593
Total	499.484	251.127

LATIGATION DETAILS

IN THE HIGH COURT OF DDELHI AT NEW DELHI

CO.PET. 462/2014

M/S CRYSTAL FOUNDARY FLUXES PRIVATE LIMTED…….Petitioner

Through Mr. M.L. Sharma, Advocate.

Versus

M/S CLUTCH ATO LIMITED…Respondent

Through

CORAM :

HON’BLE MR. JUSTICE SANJEEV SACHDEVA

ORDER

30.07.2014

CA No.1641/2014

This is an application on behalf of the petitioner seeking exemption from filing an acknowledgment of the statutory notice dated 21.06.2013 and 03.03.2014. It is contended that tracking report was not available on the website and, as such, the same could not be procured and filed. It is submitted that notice have been correctly address and the envelope has not been received back, so there is a presumption that the notice have been duly served.

In view of the averments in the application, the application is allowed and the petitioner is exempted from filing the acknowledgment of the statutory notice dated 21.06.2013 and 03.03.2014.

Application is accordingly allowed.

Co.Pet. 462/2014

Issue notice to the respondent by ordinary process and speed post, returnable on 7^th January, 2015.

SANJEEV SACHDEVA, J

JULY 30, 2014

BUSINESS PERFORMANCE AND OPERATIONS

During the year the Company has reported a net income of Rs. 305.985 Millions each is significantly lower than the sales achieved during the financial year 2012-13. This is due to lack of working capital, partial shifting of Plant and Machinery from fariabad and non-availability of skilled labour at Bhiwadi, Rajasthan. Due to this, you company has suffered net loss of Rs. 1329.699 Millions Resulting in completed erosion of its net worth.

MANAGEMENT DISCUSSION AND ANALYSIS

Financial Performance of The Company

Turover at Rs. 306.000 Millions in FY 2013-14 against Rs. 954.100 Millions previous year – a decreased by 68%.

Raw Material consumption has been decreased from Rs. 647.000 Millions to Rs. 228.300 Millions (65%) in 2013-14.

Employees Cost decreased from Rs. 165.200 Millions to Rs. 35.500 Millions (81%) in FY2013-14.

Depreciation for the year 2013-14 decreased to Rs. 35.500 Millions from Rs. 59.400 Millions (40%) of previous year.

Financial cost decrease to RS. 210.400 Millions in 2013-14 from Rs. 213.700 Millions of previous year.

Net loss incurred by the company stands at Rs. 13.297 Million against loss of Rs. 342.100 Million of previous year.

UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30.06.2014

(Rs. in millions)

		Quarter Ended 30.06.2014
S.No.	Particulars
1	a) Net Sales / Income from operations	89.625
	b) Other Operating Income	0.000
	Total :	89.625
2	Expenditure a) Increase/decrease in Stock in trade and work in progress	1.115
	b) Consumption of raw materials	71.140
	c) Employees Cost	7.330
	d) Depreciation	8.561
	e) Other expenditure	19.111
	Total:	107.258
3	Profit from Operations before Other Income, Interest and Exceptional Items (1-2)	(17.633)
4	Other Income	0.000
5	Profit before Interest & Exceptional Items (3+4)	(17.633)
6	Interest	22.732
7	Profit (+)/Loss (-) after Interest but before Exceptional Items (5-6)	(40.365)
8	Exceptional Items	0.000
9	Profit from Ordinary
	Activities before Tax (7+8)	(40.365)
10 11	Tax expenses (including DT) Net Profit from Ordinary	0.000
	Activities after Tax (9-10)	(40.365)
12	Extra Ordinary Item (net of tax expenses Rs.)	0.000
13	Net Profit for the period (11-12)	(40.365)
14	Paid-up equity share capital (face value of Rs. 10/- each)	187.604
15	Reserves excluding revaluation reserves. As per balance sheet of previous accounting year
16	Earnings Per Share (not annualized) a) Basic (Rs.) b) Diluted (Rs.)	(0.215)
17	Public shareholding
	- Number of shares	11944562
18	- Percentage of shareholding Promoter and promoter group shareholding a) Pledged / Encumbered	63.67
	i) No. of Shares	616000
	ii) % of Shareholding (as a %of the total	11.07%
	shareholding of promoter and promoter group)
	iii) Percentage of Shareholding (as a % of the total share capital of the company)	4.35%
	b) Non encumbered
	i) No. of Shares	5998316
	ii) Percentage of Shareholding (as a % of	83.03%
	the total shareholding of promoter & promoter group)
	iii) Percentage of Shareholding (as a % of the total share capital of the company)	31.08%

CONTINGENT LIABILITIES

(Rs. In Millions)

Particulars	31.03.2014
i) Claims against the company not acknowledged as debts.	102.693
ii) Disputed Excise duty (including penalty of Rs.21.568 Millions), under appeal before Central Excise and Service Tax Appellate Tribunal Rs.5.000 Millions paid as deposit and shown under loans and advances)	81.236
iii) Disputed from Director General of Foreign Trade (DGFT) for issue show cause notice relating to not fill full export obligation	15.072
iv) Income Tax Demand notice issued by ACIT. Company not acknowledge as debts, appeal pending before the CIT	10.700
v) Cheques discounted with Banks	--
vi) Guarantees given by Banks (excluding liabilities provided)	--
vii) The company is contingently liable for payment of interest on delayed payments made beyond the appointed day during the financial year as well as on outstanding amount at the year end to Micro, Small, and Medium Enterprises under the provisions of Section 16 of The Micro, Small, and Medium Enterprises Development Act, 2006.	0.697

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10418464	18/03/2013	322,400,000.00	STATE BANK OF INDIA	OVERSEAS BRANCH, JAWAHAR VYAPAR BHAWAN, 1, TOLSTO  Y MARG, NEW DELHI, DELHI - 110001, INDIA	B72783723
2	10247604	30/10/2010	30,000,000.00	RELIGARE FINVEST LIMITED	D3, P3B,, DISTRICT CENTRE, SAKET, NEW DELHI, DELH  I - 110017, INDIA	A97410195
3	10241673	15/01/2014 *	380,000,000.00	RAJASTHAN STATE INDUSTRIAL DEVELOPMENT AND INVESTMENT CORPORATION LIMITED	UDYOG BHAWAN, TILAK MARG, JAIPUR, RAJASTHAN - 302  005, INDIA	B94498490
4	10181469	16/09/2009	172,500,000.00	CENTRAL BANK OF INDIA	PRESS AREA BRANCH,"LINK HOUSE",, 3, BAHADUR SHAH  ZAFAR MARG,, NEW DELHI, DELHI - 110002, INDIA	A71739411
5	10173468	01/09/2009	50,000,000.00	EXPORT-IMPORT BANK OF INDIA	21ST FLOOR, CENTER ONE WORLD TRADE CENTRE COMPLEX,  CUFF PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA	A68749530
6	10170639	25/04/2013 *	474,300,000.00	STATE BANK OF TRAVANCORE	ARYA SAMAJ ROAD, KAROL BAGH BRANCH, DELHI - 110005  , INDIA	B94410990
7	10171693	29/07/2009	225,000,000.00	STATE BANK OF INDORE	COMMERCIAL BRANCH,, M-47, CONNAUGHT PLACE, NEW DE  LHI, DELHI - 110001, INDIA	A67919738
8	10133460	10/12/2008	567,960,000.00	DEG - DEUTSCHE INVESTITIONS - UND ENTWICKLUNGSGESE  LLSCHAFT MBH	KAEMMERGASSE 22, FEDERAL REPUBLIC OF GERMANY, COL  OGNE, - 50676, GERMANY	A52395985
9	10095803	31/10/2007	200,000,000.00	DBS BANK LIMITED	UPPER GROUND FLOOR, BIRLA TOWER,, 25, BARAKHAMBA  ROAD,, NEW DELHI, DELHI - 110001, INDIA	A35222629
10	10072709	27/10/2010 *	1,125,000,000.00	STATE BANK OF TRAVANCORE	18/4, ARYA SAMAJ ROAD, KAROL BAGH, DELHI - 110005  , INDIA	B97677686
11	10044805	05/09/2013 *	200,001,000.00	CANARA BANK	8A, NEHRU GROUND, NIT, FARIDABAD, HARYANA - 12100  1, INDIA	B88297445

* Date of charge modification

FIXED ASSETS

· Lord Statue

· Land Freehold

· Building

· Plant and Machinery

· Fixture and Fittings

· Tools and Implements

· Dies for Clutch Cover and Disc

· Vehicles

· Generator Sets

· Office Equipments

· Testing Equipments

· Air Conditioner and Coolers

· Electrical Installations

· Water Supply System

· Fire Fighting Equipments

· Computer Equipments

· Effluent Treatment Plant

· Intangible Assets

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 records 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] 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. 61.04
UK Pound	1	Rs. 98.64
Euro	1	Rs. 77.74

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	KRN
Report Prepared by :	ASH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3--
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		26

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.