MIRA INFORM REPORT

Report Date :

17.10.2014

IDENTIFICATION DETAILS

Name :	UTTAM STRIPS LIMITED (w.e.f. 22.06.2011)
Formerly Known As :	UTTAM STRIPS PRIVATE LIMITED
Registered Office :	39, Okhla Industrial Area, Phase – III, New Delhi – 110020
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	18.10.2006
Com. Reg. No.:	11-154866
Capital Investment / Paid-up Capital :	Rs.103.289 Millions
CIN No.: [Company Identification No.]	U27310DL2006PTC154866
TAN No.: [Tax Deduction & Collection Account No.]	DELU03248A
PAN No.: [Permanent Account No.]	AAACU8548C
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	The company is engaged in manufacturing of CRCA Steel and Precision Tubes.
No. of Employees :	900 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

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

Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Exist
Comments :	Subject is an established company having satisfactory track record. Financial position of the company seems to be decent. Trade relations are fair. Business is active. Payment terms are usually correct. The company can be considered 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	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.

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	Term loans = B- [Suspended]
Rating Explanation	Have high risk of default.
Date	May, 2013

Rating Agency Name	ICRA
Rating	Non-fund based limits = A4 [Suspended]
Rating Explanation	Have minimal degree of safety and carry very high credit risk.
Date	May, 2013

Reason for Suspension:

The suspension follows ICRA’s inability to carry out a rating surveillance in the absence of the requisite information from the company.

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

Name :	Mr. Rajesh Kaushik
Designation :	Finance Manager
Contact No.:	91-7891005912
Date :	16.10.2014

LOCATIONS

Registered Office / Corporate / Head Office :	39, Okhla Industrial Area, Phase – III, New Delhi – 110020, India
Tel. No.:	91-11-41003055/ 41003056/ 41003057
Mobile No.:	91-7891005912 (Mr. Rajesh Kaushik) 91-7891005899 (Ms. Renuka Jain)
Fax No.:	91-11-41003058
E-Mail :	rishimiglani@uttamstrips.com renukajain@uttamstrips.com info@uttamstrips.com
Website :	http://www.uttamstrips.com
Factory :	Plot No. 496 [A and C], Phase – I, RIICO Industrial Area, BHiwadi, District – Alwar, Rajasthan, India
Tel. No.:	91-1493-220323 – 26
Fax No.:	91-1493-220327

DIRECTORS

AS ON: 29.09.2010

Name :

Mr. Rishi Miglani

Designation :

Managing Director

Address :

W – 55, Great Kailash Part- I, New Delhi – 110048, India

Date of Birth/Age :

08.12.1977

Qualification :

Graduate

Date of Appointment :

30.09.2013

PAN No.:

AHUPM0370N

DIN :

00272138

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	U74899DL1971PTC005589	BHUTANI AND COMPANY PRIVATE LIMITED	Director	17/07/1992	17/07/1992	22/10/2012	Active	NO
2	U51900HR1984PLC048132	KREDENCE MULTI TRADING LIMITED	Director	20/03/2001	20/03/2001	05/02/2010	Active	NO
3	U29105DL2005PTC143271	ARJUN ISPAT INDIA PRIVATE LIMITED	Director	05/12/2005	05/12/2005	-	Active	NO
4	U27310DL2006PLC154866	UTTAM STRIPS LIMITED	Managing director	30/09/2013	18/10/2006	-	Active	NO
5	U27205MH1981PTC025930	ARCHISHA STEELS PRIVATE LIMITED	Director	15/11/2006	15/11/2006	15/09/2012	Active	NO
6	U18204DL2007PTC166954	ZION APPARELS PRIVATE LIMITED	Additional director	24/06/2008	24/06/2008	01/04/2011	Strike off	NO
7	U35999DL2009PTC195515	UTTAM COMPONENTS PRIVATE LIMITED	Director	26/10/2009	26/10/2009	-	Active	NO
8	U27106DL2005PTC143226	SOIN STEEL PRIVATE LIMITED	Additional director	01/11/2009	01/11/2009	30/09/2010	Active	NO
9	U72300DL2010PTC202750	VERVE I T SOLUTIONS PRIVATE LIMITED	Additional director	17/05/2010	17/05/2010	-	Active	NO
10	U45400DL2007PTC166491	GURU PROPTECH PRIVATE LIMITED	Additional director	17/11/2011	17/11/2011	12/03/2014	Active	NO
11	U27100DL2011PTC228498	UTTAM INOX PRIVATE LIMITED	Director	09/12/2011	09/12/2011	-	Active	NO
12	U34100DL2011PLC213138	UTTAM AUTOCORP LIMITED	Additional director	18/01/2012	18/01/2012	-	Active	NO

Name :

Mr. Ramesh Kumar Miglani

Designation :

Director

Address :

W – 55, Great Kailash Part- I, New Delhi – 110048, India

Date of Birth/Age :

14.04.1940

Qualification :

Graduate

Date of Appointment :

18.10.2006

PAN No.:

AAJPM4271A

DIN :

00272755

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	U27310UP1936PTC000748	SHRI GANGA GALVANISING COMPANY PRIVATE LIMITED	Director	01/01/1973	01/01/1973	01/01/2012	Active	NO
2	U74899DL1971PTC005589	BHUTANI AND COMPANY PRIVATE LIMITED	Director	20/06/1989	20/06/1989	-	Active	NO
3	U27205MH1981PTC025930	ARCHISHA STEELS PRIVATE LIMITED	Director	20/02/2003	20/02/2003	15/09/2012	Active	NO
4	U29105DL2005PTC143271	ARJUN ISPAT INDIA PRIVATE LIMITED	Director	05/12/2005	05/12/2005	-	Active	NO
5	U27310DL2006PLC154866	UTTAM STRIPS LIMITED	Director	18/10/2006	18/10/2006	-	Active	NO
6	U18204DL2007PTC166954	ZION APPARELS PRIVATE LIMITED	Additional director	24/06/2008	24/06/2008	01/04/2011	Strike off	NO
7	U72300DL2010PTC202750	VERVE I T SOLUTIONS PRIVATE LIMITED	Additional director	17/05/2010	17/05/2010	-	Active	NO

Name :

Mr. Vimal Kaul

Designation :

Director

Address :

Pocket- C, Flat No. 42B, Gangotri Enclave, G K-II, Alaknanda, New Delhi – 110019, India

Date of Birth :

12.04.1965

Qualification :

Graduate

Date of Appointment :

30.09.2013

DIN :

01750000

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	U27320DL2007PTC169618	ISHITA METAL TRADERS PRIVATE LIMITED	Director	19/10/2007	19/10/2007	-	Active	NO
2	U27106DL2005PTC143226	SOIN STEEL PRIVATE LIMITED	Additional director	01/11/2009	01/11/2009	30/09/2010	Active	NO
3	U27310DL2006PLC154866	UTTAM STRIPS LIMITED	Director	30/09/2013	15/11/2010	-	Active	NO

Name :

Shikha Miglani

Designation :

Director

Address :

W-55, Greater Kailash Part-I, New Delhi – 110048, India

Date of Birth/Age :

13.12.1980

Date of Appointment :

30.09.2013

DIN No. :

00272567

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	U29105DL2005PTC143271	ARJUN ISPAT INDIA PRIVATE LIMITED	Director	05/12/2005	05/12/2005	-	Active	NO
2	U35999DL2009PTC195515	UTTAM COMPONENTS PRIVATE LIMITED	Director	26/10/2009	26/10/2009	-	Active	NO
3	U27100DL2011PTC228498	UTTAM INOX PRIVATE LIMITED	Director	09/12/2011	09/12/2011	-	Active	NO
4	U34100DL2011PLC213138	UTTAM AUTOCORP LIMITED	Additional director	18/01/2012	18/01/2012	-	Active	NO
5	U27310DL2006PLC154866	UTTAM STRIPS LIMITED	Director	30/09/2013	30/09/2013	-	Active	NO

KEY EXECUTIVE

Name :	Mr. Rajesh Kaushik
Designation :	Finance Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON: 29.09.2010

Names of Shareholders	No. of Shares
Arjun Ispat India Private Limited, India	1100000
ArchishaI Investments Private Limited, India	604500
Rajat Miglani	12500
Ramesh Kumar Miglani	53500
Rishi Miglani	329500
Rajinder Miglani	1672500
Kredence Multi Trading Limited, India	200000
Sai Nath Trading Company Private Limited, India	200000
lshita Metal and Trading Private Limited, India	1000000
Palak Agency Private Limited, India	1000000
Uttam Exports Private Limited, India	427500
Total	6600000

AS ON: 20.09.2011

Names of Shareholders	No. of Shares
Verve IT Solutions Private Limited, India	956400
Ishita Metal Traders Private Limited, India	187520
Total	1143920

Equity Share Break up (Percentage of Total Equity)

AS ON: 29.09.2010

Category	Percentage
Bodies corporate	6.42
Directors or relatives of directors	93.58
Total	100.00

BUSINESS DETAILS

Line of Business :

The company is engaged in manufacturing of CRCA Steel and Precision Tubes.

Exports :
Products :	Finished Goods
Countries :	USA
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

PRODUCTION STATUS (As on: 31.03.2011)

Particulars	Unit	Qty.
Licensed Capacity	Tonnes	150000
Installed Capacity	Tonnes	120000

Particulars	Actual Production
CR Coils	1974460.00
CR Sheets	12248721.00
CR Strip	33411427.00
H.R. Coil / Sheet in Coil	1553853.00
H. R. Slit	7920.00
HROP Sheet	1178440.00
MS Steel Tubes	5508725.00
MS Wire	267838.00
Scrap	2125890.00
Sheet and Coil 2^nd Grade	1635310.00
Steel Tube 2^nd Grade	270140.00
C R Strip 2nd Grade	318550.00
H B Wire	75052.00

GENERAL INFORMATION

Suppliers :

• Steel Authority of India Limited
• Gas Authority of India Limited

Customers :

• Maruti Udyog
• Hero Honda
• Eicher
• IFB
• Carrier
• Bajaj Auto
• Crompton Grooves
• Godrej
• Escorts
• Mehra Metal Components Private Limited
• Orient Fans

No. of Employees :

900 (Approximately)

Bankers :

• Oriental Bank of Commerce, A-Block, Connaught Place, New Delhi - 110001, India
• Bank of Maharashtra
• HDFC Bank Limited
• lClCl Bank Limited
• state Bank of Patiala
• Punjab National Bank
• State Bank of Jaipur and Bikaner

Facilities :

SECURED LOANS	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
LONG TERM BORROWINGS
Rupee term loans from bank	511.165	749.656
Loans taken for vehicles	8.385	14.524
SHORT TERM BORROWINGS
Term loans from banks	199.416	0.000
Working capital loans from banks	1608.019	1639.047
Total	2326.985	2403.227

Banking Relations :	--
Financial Institution :	Intec Capital Limited, 701, Manjusha, 57 Nehru Place, New Delhi - 110019, India
Auditors :
Name :	Jatinder Arora and Associates Chartered Accountants
Address :	M-1, Kirti House, 1/6, Kirti Nagar Industrial Area, New Delhi – 110015, India
Tel. No.:	91-11-25911464
Mobile No.:	91-9810018083
E-Mail :	Jd_associates9375@rediffmail.com
PAN :	ADHPA7136P
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :	Arjun Ispat (India) Private Limited [U29105DL2005PTC143271]

CAPITAL STRUCTURE

AFTER 30.09.2013

Authorised Capital : Rs.125.000 Millions

Issued, Subscribed & Paid-up Capital : Rs.115.789 Millions

AS ON: 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
12500000	Equity Shares	Rs.10/- each	Rs.125.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10328920	Equity Shares	Rs.10/- each	Rs.103.289 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	103.289	103.289	91.850
(b) Reserves & Surplus	891.313	851.675	538.995
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	167.300	167.230	285.980
Total Shareholders’ Funds (1) + (2)	1161.902	1122.194	916.825
(3) Non-Current Liabilities
(a) long-term borrowings	521.550	780.917	465.882
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	67.358	16.876	139.819
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	588.908	797.793	605.701
(4) Current Liabilities
(a) Short term borrowings	1807.434	1639.047	1548.944
(b) Trade payables	523.170	289.119	34.151
(c) Other current liabilities	864.264	719.836	2.919
(d) Short-term provisions	0.000	0.000	16.435
Total Current Liabilities (4)	3194.868	2648.002	1602.449
TOTAL	4945.678	4567.989	3124.975
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1388.726	1165.807	999.994
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(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	12.694	8.887	5.638
(e) Other Non-current assets	0.000	0.123	0.000
Total Non-Current Assets	1401.420	1174.817	1005.632
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	1440.323	1153.846	688.911
(c) Trade receivables	1425.101	1502.853	1055.211
(d) Cash and cash equivalents	145.879	113.140	42.918
(e) Short-term loans and advances	416.238	549.283	331.877
(f) Other current assets	116.717	74.050	0.426
Total Current Assets	3544.258	3393.172	2119.343
TOTAL	4945.678	4567.989	3124.975

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2013	31.03.2012	31.03.2011
	SALES
	Revenue from operations	3851.466	4031.682	3005.076
	Other Income	53.409	44.654	1.385
	TOTAL (A)	3904.875	4076.336	3006.461
Less	EXPENSES
	Cost of Materials Consumed	3319.368	3860.328	2702.251
	Purchases of Stock-in-Trade	0.000	0.000	0.000
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(276.209)	(471.328)	(308.763)
	Employees benefits expense	190.504	123.082	71.197
	Other expenditure	73.052	62.324	210.220
	TOTAL (B)	3306.715	3574.406	2674.905
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	598.160	501.930	331.556
Less	FINANCIAL EXPENSES (D)	442.419	359.793	210.292
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	155.741	142.137	121.264
Less/ Add	DEPRECIATION/ AMORTISATION (F)	114.936	101.088	90.581
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	40.805	41.049	30.683
Less	TAX (H)	1.168	2.910	6.077
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	39.637	38.139	24.606
	EARNINGS IN FOREIGN CURRENCY
	FOB Exports	268555.07 USD	268555.07 USD	268555.07 USD
	Earnings / (Loss) Per Share (Rs.)	3.84	3.69	3.12

Particulars	31.03.2014
Sales Turnover (Approximately)	3020.000

Expected Sales ( 2014-2015 ) : Rs. 5600.000 Millions [Market Fluctuation]

The above information has been parted by Mr. Rajesh Kaushik.

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	1.02	0.94	0.82
Net Profit Margin (PBT/Sales)	(%)	1.06	1.02	1.02
Return on Total Assets (PBT/Total Assets}	(%)	0.83	0.90	0.98
Return on Investment (ROI) (PBT/Networth)		0.04	0.04	0.03
Debt Equity Ratio (Total Liability/Networth)		2.00	2.16	2.20
Current Ratio (Current Asset/Current Liability)		1.11	1.28	1.32

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	91.850	103.289	103.289
Reserves & Surplus	538.995	851.675	891.313
Share Application money pending allotment	285.980	167.230	167.300
Net worth	916.825	1122.194	1161.902
long-term borrowings	465.882	780.917	521.550
Short term borrowings	1548.944	1639.047	1807.434
Total borrowings	2014.826	2419.964	2328.984
Debt/Equity ratio	2.198	2.156	2.004

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)
Revenue from operations	3005.076	4031.682	3851.466
		34.162	(4.470)

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Revenue from operations	3005.076	4031.682	3851.466
Profit After Tax	24.606	38.139	39.637
	0.82%	0.95%	1.03%

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%	Yes
14]	Estimation for coming financial year	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	Yes
18]	Major customers	Yes
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
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	Yes

LITIGATION DETAILS

 IN THE HIGH COURT OF DELHI AT NEW DELHI

CO.PET. 613/2014

M/S J N ROBOTIC AUTOMATION P LTD. ..... Petitioner

Through: Mr.Jeetender Gupta, Advocate


versus


  M/S UTTAM STRIPS LIMITED..... Respondent

  Through



  CORAM:

   HON'BLE MR. JUSTICE SANJEEV SACHDEVA

   O R D E R

   01.10.2014



  Issue notice to the respondent by ordinary process and speed post, returnable on 12th March, 2015.


  SANJEEV SACHDEVA, J

  OCTOBER 01, 2014/sv

  $ 30

VIEW INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10521113	25/08/2014	586,700,000.00	ORIENTAL BANK OF COMMERCE	LCB E BLOCK HARSHA BHAWAN CONNAUGHT PLACE, NEW DEL  HI, Delhi - 110001, INDIA	C21645494
2	10510110	03/07/2014	72,700,000.00	STATE BANK OF BIKANER AND JAIPUR	BHIWADI INDL AREA, DISTT ALWAR, BHIWADI, Rajastha  n - 301019, INDIA	C12121893
3	10494483	11/03/2014	702,700,000.00	STATE BANK OF PATIALA, COMMERCIAL BRANCH,	STATE BANK OF PATIALA, COMMERCIAL BRANCH,, 2ND FL  OOR, CHANDERLOK BUILDING, 36, JANPATH, NEW DELHI,  Delhi - 110001, INDIA	C03279205
4	10467837	08/08/2014 *	2,055,000,000.00	Oriental Bank Of Commerce	LCB, E BLOCK, HARSHA BHAWAN, CONNAUGHT PLACE, NEW  DELHI, Delhi - 110001, INDIA	C17824095
5	10390624	10/12/2012	36,700,000.00	INTEC CAPITAL LIMITED	701,MANJUSHA, 57 NEHRU PLACE, NEW DELHI, Delhi -  110019, INDIA	B63595672
6	10378468	03/10/2012	1,580,000.00	ORIENTAL BANK OF COMMERCE	A- BLOCK, CONNAUGHT PLACE, NEW DLEHI, Delhi - 110  001, INDIA	B58898982
7	10311138	20/09/2011	250,000,000.00	ORIENTAL BANK OF COMMERCE	A-BLOCK, CONNAUGHT PLACE, NEW DELHI, Delhi - 1100  01, INDIA	B22926067
8	10284787	26/03/2011	100,000,000.00	STATE BANK OF BIKANER & JAIPUR	BHIWADI INDUSTRIAL ESTATE, BHIWADI, Rajasthan - 30  1019, INDIA	B12272597
9	10274551	22/03/2011	30,000,000.00	INTEC CAPITAL LIMITED	701,MANJUSHA, 57 NEHRU PLACE, NEW DELHI, Delhi -  110019, INDIA	B08414955
10	10276827	10/03/2011	150,000,000.00	PUNJAB & SIND BANK	24 WEST PATEL NAGAR, NEW DELHI, Delhi - 110008, IN  DIA	B09548736

* Date of charge modification

WORKING RESULTS

The turnover of the company during the period under consideration was at Rs. 4281.800 Millions as against the turnover of Rs.. 4427.400 Millions during the year 2011-2012. CAPEX of Rs. 314.300 Millions had been undertaken for capacity synchronization. With a view to conserve financial resources, Directors do not recommend any dividend.

FUTURE PROSPECTS

The turnover of the company should double this financial year considering the enhanced capacities. Further the company has ventured into production of Home Furnishing products for export market as the value added production. The company has confirmed orders in hand and in future as well. The construction of factory building for Home product division is in progress.

ENERGY PROSPECTS

The company intends to continue with the conservation of energy policy and hopes to yield better results. However the provisions of Section 217(1)(e) regarding information for investment made on energy conserving devices is not applicable to the company.

UNSECURED LOAN

PARTICULAR	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
LONG TERM BORROWINGS
Loans and advances from related parties	2.000	14.800
Other loans and advances	0.000	1.936
Total	2.000	16.736

FIXED ASSETS:

• Land
• Building
• Plant and Machinery
• Furniture and Fixtures
• Computer
• Office Equipments
• Electrical Installations
• Motor Car
• Motor Cycle
• Air Conditioner
• Water Systems
• Tube Mill
• Fuel and other Utilities
• Laboratory Equipments
• Misc. Equipments
• Piping Erection of all utilities
• Trucks

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.61.62
UK Pound	1	Rs.99.12
Euro	1	Rs.78.89

INFORMATION DETAILS

Information Gathered by :	PRT
Analysis Done by :	RAS
Report Prepared by :	SNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
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	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	---
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	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		44

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.