MIRA INFORM REPORT

Report Date :

05.09.2014

IDENTIFICATION DETAILS

Name :	VIKAS GLOBALONE LIMITED (w.e.f. 31.12.2008)
Formerly Known As :	VIKAS PROFIN LIMITED
Registered Office :	34/1, Vikas Apartments, East Punjabi Bagh,, Delhi – 110026, Delhi
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	30.11.1984
Com. Reg. No.:	55-019465
Capital Investment / Paid-up Capital :	Rs. 101.695 Millions
CIN No.: [Company Identification No.]	L65999DL1984PLC019465
IEC No.:	0508051746
TAN No.: [Tax Deduction & Collection Account No.]	DELVO4673E
PAN No.: [Permanent Account No.]	AAACV0608G
Legal Form :	A Public Limited Liability Company. The Company’s Shares Are Listed on the Stock Exchanges.
Line of Business :	Manufacturer and Trader of Methyl Based Tin PVC Heat Stabilizer, TPR and Calcium Carbonate.
No. of Employees :	Information Declined By The Management

RATING & COMMENTS

MIRA’s Rating :

Ba (51)

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

Maximum Credit Limit :	USD 1500000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Exist
Comments :	Subject is an established company having a satisfactory track record. Financial position of the company seems to be decent. Trade relations are reported as fair. Business is active. Payment 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	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

As per the latest IMF study, the total weigh of emerging markets in the GDP of the world on a purchasing power parity basis has seen a sizeable shift. It highlights how as against 51 % in 2005, the emerging economies now account for close to 56 % of the global purchasing power GDP as per the latest survey. And with the emerging economies growing at a faster rate than their developed counterparts, there are every possibility that the their share goes up further in the coming years.  China may surpass the US over the next few years.

Politics and economics are very intricately connected. They tend to influence each other in ways that could be very complex and far-reaching. The prospects of the India’s economy have been seriously compromised due to political corruption. High inflation, poor standard of living are to a great extent a result of rampant corruption in the country. China on the other hand, seems to be facing diametrically opposite challenge. American hedge fund manager Jim Chanos has been keenly following the political and economic development in the dragon economy and has figured out something that is quite worrying. He is of the view that the Chinese economy could be heading toward trouble on account of new Chinese President Xi Jingping’s very aggressive anti-corruption drive. Chanos believes tat many things such as apartment sales, luxury products, etc. were largely bought with dirty money. And it is now beginning to impact consumption. This may indeed be bad news for an economy that is struggling to transition from an investment-driven export-oriented economy to a domestic consumption-driven economy.

A study published by Firstpost has revealed that asset classes like real estate and equities were the biggest beneficiaries of the liberalization policies.  A firm called Ciane Analytics studied returns from assets including equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate outperformed every other asset classes during the 23-year period with an annualized return of 20 % ! Equities came in second with annualized return of 15.5 % ! However, while these returns may seem mouthwatering, the fact is that the return from equities adjusted for inflation came down to just 7.1 %.

Some brief news are as under

. R-Power to buy Jaypee’s hydro assets

. Investors await justice in NSEL case

. India seeks MFN status from Pakistan ahead of meeting

. Ukrain’s clashes with rebels hinder MH17 crash investigation

. India exploring merger of state-owned hydro PSUs

..Higher costs weigh down profit growth to slowest in 9 quarters

..Wal-Mart to expand wholesale business in India

. GMR group moves to strengthen balance sheet

. Central Bank to sell 4 % stake to Life Insurance Corporation

. Tata Chemicals plans to raise up to Rs 10000 mn.

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long term rating = BB (Suspended)
Rating Explanation	Have moderate risk of default
Date	25.03.2014

Rating Agency Name	CARE
Rating	Short term bank facilities =A4 (Suspended)
Rating Explanation	Have minimal degree of safety and carry very high credit risk
Date	25.03.2014

Reasons for suspension:

The ratings have been suspended as the company has not furnished the information required by CARE for monitoring of the rating.

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 DENIED BY

Management non co-operative

Tel No.: 91-11-43144444.

LOCATIONS

Registered Office /Corporate Office :	34/1 Vikas Apartments East Punjabi Bagh, Delhi – 110026, India
Tel. No.:	91-11-43144444 (25 Hunting Lines)
Mobile No.:	91-9711179718 (Mr. Rajendra Agarwal) 91-9811703783 (Mr. Ashwani Sikka) 91-9811202203 (Mr. Sunil Dhameja)
Fax No.:	91-11-43144488
E-Mail :	catarunbatra@gmail.com sunil.malik@vikasglobal.in
Website :	www.vikasglobal.in
Corporate Office :	234, DDA Office Cmpx, Jhandewalan Extn, New Delhi-110055
Factory 1 :	Industrial Growth Centre, Phase-1, SIDCO Complex, District Samba – 184121, Jammu and Kashmir, India
Tel. No.:	91-1923-241069
Area :	18000 sq.ft
Location :	Owned
Factory 2 :	G-24-30, Vigyan Nagar, RIICO Industrial Area, Shahjahanpur, District Alwar – 301706, Rajasthan, India
Tel. No.:	91-1494-235940
Area :	13200 sq.ft
Location :	owned
Warehouse 1 :	100/14, Prakash Industrial Area, Sahibabad, Ghaziabad – 201001, Uttar Pradesh, India
Area :	360 sq.ft
Location :	Rented
Warehouse 2 :	GL – 35, Ganpathi Dham Industrial Area, Bahdurgarh, Jhajjar – 124104, Haryana, India
Area :	1080 sq.ft
Location :	Owned
Warehouse 3 :	A-28, Amanpuri, Adhayapak Nagar, Nagloi, New Delhi – 110041, Delhi, India
Fax No.:	91-11-25943865
Area :	10000 sq.ft
Location :	Owned

DIRECTORS

As on: 30.09.2013

Name :

Mr. Jagdish Capoor

Designation :

Director

Address :

1601, Brookville, 359 Mogul Lane, Mahim (West), Mumbai – 400016, Maharashtra, India

Date of Appointment :

28.09.2011

DIN No.:

00002516

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	L65920MH1994PLC080618	HDFC BANK LIMITED	Director	06/07/2001	06/07/2001	06/07/2010	Active	NO
2	L74999MH1902PLC000183	THE INDIAN HOTELS  COMPANY LIMITED	Director	27/07/2001	27/07/2001	01/07/2014	Active	NO
3	U65993DL2002PLC115769	ASSETS CARE & RECONSTRUCTION ENTERPRISE LIMITED	Director	27/11/2007	17/03/2003	-	Active	NO
4	L24100GJ1983PLC006513	GHCL LIMITED	Director	20/07/2005	20/07/2005	22/04/2009	Active	NO
5	U67120MH2005PLC155188	BSE LIMITED	Director	08/08/2005	08/08/2005	02/03/2010	Active	NO
6	U67190MH2005PTC156119	QUANTUM TRUSTEE COMPANY PRIVATE LIMITED	Director	16/04/2007	16/04/2007	-	Active	NO
7	U66020MH2007PLC176066	LIC PENSION FUND LIMITED	Director	15/10/2008	21/11/2007	-	Active	NO
8	L65910KL1992PLC006623	MANAPPURAM FINANCE LIMITED	Director	31/07/2014	20/07/2010	-	Active	NO
9	U67190MH2008PTC179718	LICHFL TRUSTEE COMPANY PRIVATE LIMITED	Director	11/08/2010	11/08/2010	-	Active	NO
10	U74210DL1991PLC042569	ALANKIT ASSIGNMENTS LIMITED	Director	12/09/2011	17/03/2011	07/08/2012	Active	NO
11	L31101MH1995PLC085471	ENTEGRA LIMITED	Director	15/09/2011	24/05/2011	-	Active	NO
12	L65999DL1984PLC019465	VIKAS GLOBALONE LIMITED	Director	28/09/2011	10/08/2011	-	Active	NO
13	U74999MH1997PTC107143	ATLAS DOCUMENTARY FACILITATORS COMPANY PRIVATE LIMITED	Director	15/06/2012	23/12/2011	-	Active	NO
14	L65922MH1989PLC052257	LIC HOUSING FINANCE LTD	Director	24/07/2012	25/05/2012	-	Active	NO
15	L07010KA2004PLC033412	NITESH ESTATES LIMITED	Director	27/09/2013	14/03/2013	-	Active	NO
16	U67120MH2000PLC152193	HDFC SECURITIES LIMITED	Director	20/06/2014	19/09/2013	-	Active	NO

Name :

Mr. Narender Kumar Garg

Designation :

Director

Address :

Ab – 55, Mian Wali, H. B. Society Paschim Vihar, New Delhi – 110087,Delhi, India

Date of Birth/Age :

12.10.1949

Date of Appointment :

27.09.2012

DIN No.:

00407494

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	U74899DL1995PTC065019	ISG SECURITIES AND FINANCE PRIVATE LIMITED	Director	03/02/1995	03/02/1995	-	Active	NO
2	U45200DL2011PTC217092	JBG INDRAPRASTHA DEVELOPERS PRIVATE LIMITED	Director	06/04/2011	06/04/2011	-	Active	NO
3	L65999DL1984PLC019465	VIKAS GLOBALONE LIMITED	Director	27/09/2012	17/10/2011	-	Active	NO
4	U18101DL2012PTC237657	365 LABELS PRIVATE LIMITED	Director	18/06/2012	18/06/2012	-	Active	NO
5	U45400DL2012PTC245717	GBG ESTATE DEVELOPERS PRIVATE LIMITED	Director	05/12/2012	05/12/2012	-	Active	NO
6	U74899DL1995PTC073719	MOONLITE TECHNOCHEM PRIVATE LIMITED	Director	25/09/2013	14/02/2013	-	Active	NO

Name :

Mr. Pradip Kumar Banerji

Designation :

Independent – Non Executive Director

Address :

D-42, DGS Apartment, Plot No.6, Sector-22, Dwarka, New Delhi-75, Delhi, India

Date of Birth/Age :

04.07.1942

Qualification :

Master of Economics

Date of Appointment :

06.12.2008

DIN No.:

00003174

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	L21010MH1945PLC010337	BALLARPUR INDUSTRIES LIMITED	Nominee director	18/02/2003	18/02/2003	31/01/2009	Active	NO
2	U35110MH2005PLC151518	BALAJI SHIPPING AND LOGISTICS LIMITED	Director	09/09/2005	09/09/2005	24/12/2007	Active	NO
3	L29199GJ1981PLC028741	INTEGRA ENGINEERING INDIA LIMITED	Nominee director	30/09/2005	30/09/2005	17/05/2007	Active	NO
4	L27310WB1931PLC007026	GKW LTD	Nominee director	05/12/2005	05/12/2005	12/07/2007	Active	NO
5	L23109WB1973GOI028844	COAL INDIA LTD GOVT OF INDIA UNDERTAKING	Director	24/08/2007	24/08/2007	23/08/2010	Active	NO
6	L65999DL1984PLC019465	VIKAS GLOBALONE LIMITED	Director	06/12/2008	25/07/2008	-	Active	NO
7	U74140WB2003PLC097206	GTFS MULTI SERVICES LIMITED	Director	23/04/2010	23/04/2010	26/12/2013	Active	NO
8	U74210DL1991PLC042569	ALANKIT ASSIGNMENTS LIMITED	Director	12/09/2011	17/03/2011	01/08/2012	Active	NO
9	L74900DL1989PLC036860	ALANKIT LIMITED	Director	05/07/2014	26/05/2014	-	Active	NO

Name :

Mr. Purshottam Das Bhoot

Designation :

Independent – Non Executive Director

Address :

Sudama sadan, 26, P.K. tagore Streer, Kolkata-700006 West Bengal, India

Date of Birth/Age :

01.03.1929

Qualification :

Bachelor of Law, Associate Member of the Institute of Company Secretaries of India

Date of Appointment :

20.07.1994

DIN No.:

00094087

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	L65999DL1984PLC019465	VIKAS GLOBALONE LIMITED	Director	20/07/1994	20/07/1994	-	Active	NO
2	U01132AS1977PLC001713	BAZALONI GROUP LIMITED	Whole-time director	15/02/1996	15/02/1996	01/04/2012	Active	NO
3	U51109WB1991PLC092393	JINDAL INDIA LIMITED	Director	01/04/2001	01/04/2001	01/04/2012	Active	NO
4	L01132WB1911PLC002077	BHATKAWA TEA INDUSTRIES LIMITED.	Director	01/06/2011	01/06/2011	-	Active	NO

Name :

Mr. Sumer Chand Tayal

Designation :

Independent – Non Executive Director

Date of Birth :

29.10.1944

Address :

BQ-5, Shalimar Bagh , New Delhi – 110052, Delhi, India

Qualification :

Bachelor of Engineering - Civil

Date of Appointment :

29.09.2007

DIN No.:

00255661

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	L65999DL1984PLC019465	VIKAS GLOBALONE LIMITED	Director	29/09/2007	07/07/2006	-	Active	NO
2	U19115DL2007PTC171823	MOONLITE FOOTCARE PRIVATE LIMITED	Director	26/12/2007	26/12/2007	-	Active	NO
3	U74899DL1995PTC073719	MOONLITE TECHNOCHEM PRIVATE LIMITED	Director	29/09/2012	07/06/2012	09/11/2012	Active	NO

Name :

Mr. Manoj Singhal

Designation :

Director

Address :

I – 1721, Chitranjan Park, New Delhi – 110091, Delhi, India

Date of Birth :

05.11.1955

Date of Appointment :

27.09.2013

DIN No.:

00010647

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	U74899DL1989PTC035850	HITKARI AUTOMOBILES PRIVATE LIMITED	Director	11/04/1989	11/04/1989	-	Active	NO
2	U34101HR1985PLC032462	MM AUTO INDUSTRIES LIMITED	Managing director	01/01/2013	02/12/1994	-	Active	NO
3	U74899DL1995PTC066843	MNS GLOBAL FINANCE Private LIMITED	Director	28/03/1995	28/03/1995	-	Active	NO
4	U70109DL2006PTC151667	MM APPARTMENTS PRIVATE LIMITED	Director	05/08/2006	05/08/2006	-	Active	NO
5	U70109DL2006PTC152339	MM APPARTMENTS N INFRASTRUCTURES PRIVATE LIMITED	Director	23/08/2006	23/08/2006	-	Active	NO
6	U40300DL2007PTC160645	MM VIDYUT PRIVATE LIMITED	Director	16/03/2007	16/03/2007	-	Active	NO
7	U50100HR2009PLC039547	MM ASAN AUTO LIMITED	Managing director	01/08/2012	29/09/2009	-	Active	NO
8	U74899DL1951GAP001947	PHD CHAMBER OF COMMERCE AND INDUSTRY	Director	20/12/2013	23/12/2009	-	Active	NO
9	U28113DL2011PTC219225	KOMAL COATINGS PRIVATE LIMITED	Director	16/05/2011	16/05/2011	20/12/2013	Active	NO
10	U85100DL2012NPL237640	MM PHYSI-HEALTH CARE	Director	18/06/2012	18/06/2012	-	Active	NO
11	U27320UP2000PTC025546	SHANKER ISPAT PRIVATE LIMITED	Director	25/06/2012	25/06/2012	01/07/2012	Active	NO
12	U45200DL2006PTC153239	TRIVENI BHOOMI VIKAS PRIVATE LIMITED	Director	01/12/2012	01/12/2012	-	Active	NO
13	U65100DL2013PLC248013	M N M ASSETS RECONSTRUCTION COMPANY LIMITED	Director	07/02/2013	07/02/2013	-	Active	NO
14	L65999DL1984PLC019465	VIKAS GLOBALONE LIMITED	Director	27/09/2013	14/02/2013	-	Active	NO
15	U34300DL1997PTC088404	MM INFOSYSTEMS PRIVATE LIMITED	Additional director	16/09/2013	16/09/2013	-	Active	NO
16	U21014DL2014PTC267728	MMR PACKAGING PRIVATE LIMITED	Director	30/05/2014	30/05/2014	-	Active	NO

Name :

Mr. Vikas Garg

Designation :

Managing Director

Address :

10/4 East Punjabi Bagh, New Delhi –26, Delhi, India

Date of Birth/Age :

15.06.1973

Qualification :

Bachelor of Commerce

Date of Appointment :

10.08.2011

DIN No.:

00255413

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	L65999DL1984PLC019465	VIKAS GLOBALONE LIMITED	Managing director	10/08/2011	15/06/1992	-	Active	NO
2	U74899DL1983PTC016345	VIKAS UTILITIES PRIVATE LIMITED	Whole-time director	15/12/2001	15/12/2001	-	Amalgamated	NO
3	U23209DL2005PTC139717	VIKAS POLYMERLAND PRIVATE LIMITED	Director	17/08/2005	17/08/2005	-	Active	NO
4	U74899DL2000PLC106554	OMX CARGO LIMITED	Director	30/09/2006	01/04/2006	15/11/2007	Active	NO
5	U45400DL2007PTC168941	PRIDE BUILDTECH PRIVATE LIMITED	Director	28/09/2013	09/12/2012	-	Active	NO
6	U74899DL1995PTC073719	MOONLITE TECHNOCHEM PRIVATE LIMITED	Director	25/09/2013	07/06/2013	-	Active	NO

Name :

Mr. Vivek Garg

Designation :

Executive Director

Address :

10/4 East Punjabi Bagh, New Delhi – 26, Delhi, India

Date of Birth/Age :

25.11.1974

Qualification :

Bachelor of Commerce

Date of Appointment :

30.06.2009

DIN No.:

00255443

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	U65992DL1980PTC010375	VIKAS PORTFOLIO PRIVATE LIMITED	Director	30/09/1996	30/09/1996	31/03/2009	Active	NO
2	U74899DL1983PTC016345	VIKAS UTILITIES PRIVATE LIMITED	Director	30/09/1996	30/09/1996	-	Amalgamated	NO
3	U74899DL1981PTC001101	VIKAS ASSOCIATES PRIVATE LIMITED	Director	30/09/1998	30/09/1998	31/03/2009	Active	NO
4	U74899DL1981PTC011244	VIKAS RELATORS PVT LTD	Director	18/02/2000	18/02/2000	14/08/2008	Active	NO
5	U45200DL2006PTC153239	TRIVENI BHOOMI VIKAS PRIVATE LIMITED	Director	07/09/2006	07/09/2006	-	Active	NO
6	U45201RJ2004PTC019871	RIDHI SIDHI TOWNSHIP DEVELOPERS PRIVATE LIMITED	Additional director	20/08/2007	20/08/2007	29/09/2007	Active	NO
7	L65999DL1984PLC019465	VIKAS GLOBALONE LIMITED	Whole-time director	30/06/2009	25/07/2008	-	Active	NO
8	U80900DL2007PTC168529	MAHARAJA AGARSEN ACADEMY PRIVATE LIMITED	Director	01/05/2009	01/05/2009	-	Active	NO
9	U29214DL2008PTC178399	A.G. AGROTECH & POWER PRIVATE LIMITED	Director	30/09/2010	09/07/2010	-	Active	NO
10	U25200DL2008PTC178400	A G UNIVERSAL PRIVATE LIMITED	Additional director	01/12/2010	01/12/2010	14/02/2011	Active	NO
11	U45400DL2007PTC168941	PRIDE BUILDTECH PRIVATE LIMITED	Director	28/09/2013	27/11/2012	-	Active	NO
12	U23209DL2005PTC139717	VIKAS POLYMERLAND PRIVATE LIMITED	Director	30/09/2013	24/12/2012	-	Active	NO
13	U70100DL2010PTC207589	VIKAS SURYA BUILDWELL PRIVATE LIMITED	Additional director	25/01/2014	25/01/2014	-	Active	NO
14	U22100DL2011PTC222241	INDIA TALKS MEDIAWORKS PRIVATE LIMITED	Director	18/07/2014	18/07/2014	-	Active	NO

KEY EXECUTIVES

Name :	Ms. Jyoti Somani
Designation :	Secretary
Address :	V – 210, Sector – 12, Noida – 201301, Uttar Pradesh, India
Date of Birth/Age :	03.10.1984
Date of Appointment :	01.11.2011
PAN No.:	BBBPS2171K

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 30.09.2013

SHAREHOLDING LIST ATTACHED

Equity Share Break up (Percentage of Total Equity)

As on: 30.09.2013

Category	Percentage
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	0.05
Bodies corporate	33.78
Directors or relatives of directors	32.64
Other top fifty shareholders	27.97
Others	5.56
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Trader of Methyl Based Tin PVC Heat Stabilizer, TPR and Calcium Carbonate.

Products :

· Coated Calcite Powder

· Methyl Tin Mercaptide

· Epoxidised Soya Bean Oil

ITC Code	Product Descriptions
38029019	Coated Calcite Powder
38123090	Methyl Tin Mercaptide
15180039	Epoxidised Soya Bean Oil

PRODUCTION STATUS AS ON 31.03.2011

Particulars	Installed Capacity
Calcite Powder	7200000
ESBO	1800000
PVC/ TPR and other Components	3000000
Heat Stabilizer (Tin Mate)	600000
Total	12600000

GENERAL INFORMATION

No. of Employees :

Information Declined By The Management

Bankers :

· Indian Overseas Bank, Rajauri Branch, New Delhi, India

· Bank Of Baroda, International Banking Branch, Parliament Street, New Delhi – 110001, Delhi, India

· ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda – 390015, Gujarat, India

· Karnataka Bank Limited, Overseas Branch, Connaught Place, New Delhi – 110001, Delhi, India

Facilities :

Secured Loan	As on 31.03.2013	As on 31.03.2012
	(Rs. In Millions)
LONG TERM BORROWINGS:
Rupee term loans from banks	23.005	21.702
Loans taken for vehicles	0.630	1.278
SHORT TERM BORROWINGS:
Rupee term loans from banks	328.005	219.552
Loans taken for vehicles	0.950	1.184
Loans taken for other fixed assets	13.195	10.408
Total	365.785	254.124

Banking Relations :	--
Auditors :	Not Available
Statutory Auditors :
Name :	RSPH and Associates (R. K. Batra and Company) Chartered Accountants
Address :	906, Vikram Tower , Rajendra Place, New Delhi – 110008, Delhi, India
Tel. No.:	91-11-41538933
Cost Auditors :	C. B. Gupta and Associates

CAPITAL STRUCTURE

As on: 31.03.2013

Authorized Capital:

No. of Shares	Type	Value	Amount
15950000	Equity Shares	Rs. 10/-each	Rs. 159.500 Millions

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
10103937	Equity Shares	Rs. 10/-each	Rs. 101.039 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	101.039	101.039	101.039
(b) Reserves & Surplus	267.687	239.330	157.991
(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)	368.726	340.369	259.030
(3) Non-Current Liabilities
(a) long-term borrowings	23.635	23.405	35.580
(b) Deferred tax liabilities (Net)	3.402	2.863	1.998
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	27.037	26.268	37.578
(4) Current Liabilities
(a) Short term borrowings	342.150	231.144	200.867
(b) Trade payables	227.011	137.027	116.330
(c) Other current liabilities	47.318	68.263	18.990
(d) Short-term provisions	7.144	6.332	17.534
Total Current Liabilities (4)	623.623	442.766	353.721
TOTAL	1019.386	809.403	650.329
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	177.486	178.668	121.440
(ii) Intangible Assets	1.168	1.753	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	75.421	69.605	72.524
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	1.259	3.064	7.703
(e) Other Non-current assets	0.326	1.286	0.000
Total Non-Current Assets	255.660	254.376	201.667
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	275.018	183.263	109.663
(c) Trade receivables	363.616	263.646	212.374
(d) Cash and cash equivalents	3.501	2.910	1.191
(e) Short-term loans and advances	121.591	105.084	125.042
(f) Other current assets	0.000	0.124	0.392
Total Current Assets	763.726	555.027	448.662
TOTAL	1019.386	809.403	650.329

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	1567.933	1104.630	982.998
		Other Income	12.875	43.965	13.792
		TOTAL	1580.808	1148.595	996.790
Less	EXPENSES
		Cost of Materials Consumed	754.956	357.680	181.614
		Purchases of Stock-in-Trade	610.392	540.581	646.989
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	12.401	19.156	(10.142)
		Employees benefits expense	26.833	20.548	18.537
		Other expenses	85.463	92.513	81.570
		TOTAL	1490.045	1030.478	918.568
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		90.763	118.117	78.222
Less	FINANCIAL EXPENSES		44.628	38.352	27.369
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		46.135	79.765	50.853
Less/ Add	DEPRECIATION/ AMORTISATION		16.820	15.855	8.458
	PROFIT BEFORE PRIOR PERIOD ITEMS, EXTRAORDINARY ITEMS AND TAX		29.315	63.910	42.395
Less	PRIOR PERIOD ITEMS BEFORE TAX		0.026	0.004	0.044
	PROFIT BEFORE EXTRAORDINARY ITEMS AND TAX		29.289	63.906	42.351
Less	EXTRAORDINARY ITEMS		0.000	0.584	0.000
	PROFIT BEFORE TAX		29.289	63.322	42.351
Less	TAX		0.928	0.763	1.709
Add	Share profit of associates		5.867	24.652	20.255
	PROFIT AFTER TAX		34.228	87.211	60.897
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		168.864	87.524	38.410
Less	APPROPRIATIONS
		Dividend	5.051	5.051	10.105
		Tax on Dividend	0.820	0.820	1.678
	BALANCE CARRIED TO THE B/S		197.221	168.864	87.524
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	193.706	17.543	1.708
	TOTAL EARNINGS		193.706	17.543	1.708
	IMPORTS
		Raw Materials	379.591	282.208	232.006
		Capital Goods	--	--	1.282
	TOTAL IMPORTS		379.591	282.208	233.288
	Earnings Per Share (Rs.)		3.39	8.63	7.72

QUARTERLY RESULTS

Particulars (Rs.Millions)	Jun 2013	Sep 2013	Dec 2013	Mar 2014	Jun 2014
Audited / UnAudited	UnAudited	UnAudited	UnAudited	UnAudited	UnAudited
Net Sales	460.800	324.600	483.300	483.300	549.200
Total Expenditure	434.600	308.200	421.200	421.200	505.700
PBIDT (Excl OI)	26.100	16.500	62.100	62.100	43.500
Other Income	0.000	0.000	0.000	0.000	0.000
Operating Profit	26.100	16.500	62.100	62.100	43.500
Interest	14.200	15.700	19.800	19.800	23.600
Exceptional Items	0.000	0.000	(7.900)	(7.900)	0.000
PBDT	12.000	0.700	34.500	34.500	19.900
Depreciation	4.600	4.700	5.600	5.600	6.700
Profit Before Tax	7.400	93.900)	28.900	28.900	13.300
Tax	0.100	0.000	6.800	6.800	4.000
Provisions and contingencies	0.000	0.000	0.000	0.000	0.000
Profit After Tax	7.300	(3.900)	22.100	22.100	9.300
Extraordinary Items	0.000	2.300	0.000	0.000	0.000
Prior Period Expenses	0.000	0.000	0.000	0.000	0.000
Other Adjustments	3.300	0.000	(2.800)	(2.800)	0.000
Net Profit				19.300	9.300

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	2.17	7.59	6.11
Net Profit Margin (PBT/Sales)	(%)	1.87	5.73	4.31
Return on Total Assets (PBT/Total Assets}	(%)	3.10	8.56	7.33
Return on Investment (ROI) (PBT/Networth)		0.08	0.19	0.16
Debt Equity Ratio (Total Debt/Networth)		0.99	0.75	0.91
Current Ratio (Current Asset/Current Liability)		1.22	1.25	1.27

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	101.039	101.039	101.039
Reserves & Surplus	157.991	239.330	267.687
Net worth	259.030	340.369	368.726
long-term borrowings	35.580	23.405	23.635
Short term borrowings	200.867	231.144	342.150
Total borrowings	236.447	254.549	365.785
Debt/Equity ratio	0.913	0.748	0.992

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	982.998	1104.630	1567.933
		12.374	41.942

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Sales	982.998	1104.630	1567.933
Profit	60.897	87.211	34.228
	6.20%	7.90%	2.18%

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	No
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	No
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	Yes

IN THE HIGH COURT OF DELHI AT NEW DELHI

CO.PET. 64/2014

ADM AGRO INDUATRIES KOTA and AKOLA PRIVATE LIMITED

..... Petitioner

Through Mr. Manoranjan Sharma, Advocate.

versus


VIKAS GLOBALONE LIMITED ..... Respondent

Through Mr. Laliet Kumar, Advocate.

CORAM:

HON'BLE MR. JUSTICE SANJEEV SACHDEVA

O R D E R

23.05.2014

Learned counsel for the respondent submits that respondent is disputing the liabilities to the petitioner and a suit for damages has  been filed against the petitioner. He submits that an affidavit in terms   of order dated 07.03.2014 has been filed in the Registry. He prays for  some time to file reply to the petition.

The affidavit is not on record. Let counsel check up with the Registry and have the affidavit placed on record.

Let reply to the petition be filed within four weeks. Rejoinder, if any, be filed within four weeks thereafter.

List on 10th October, 2014.

SANJEEV SACHDEVA, J

MAY 23, 2014/st

UNSECURED LOAN

Particulars	As on 31.03.2013	As on 31.03.2012
	(Rs. In Millions)
LONG TERM BORROWINGS:
Loans and advances from others	0.000	0.425
Total	0.000	0.425

INDEX OF CHARGES:

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10490256	16/04/2014	35,000,000.00	BANK OF BARODA	INTERNATIONAL BUSINESS BRANCH, 16, SANSAD MARG, NEW DELHI - 110001, DELHI, INDIA	C03811619
2	10478555	22/01/2014	60,000,000.00	ORIENTAL BANK OF COMMERCE	35, NORTH WEST AVENUE,, PUNJABI BAGH WEST,, DELHI - 110026, DELHI, INDIA	B96785027
3	10466385	23/11/2013	30,000,000.00	BANK OF BARODA	INTERNATIONAL BUSINESS BRANCH, PARLIAMENT STREET, NEW DELHI - 110001, DELHI, INDIA	B92042605
4	10429760	13/05/2013	540,000,000.00	ORIENTAL BANK OF COMMERCE	35, N.W.A. CLUB ROAD, PUNJABI BAGH, NEW DELHI - 110026, DELHI, INDIA	B76595388
5	10405919	07/01/2013	20,000,000.00	ORIENTAL BANK OF COMMERCE	35, NORTH WEST AVENUE, CLUB ROAD, PUNJABI BAGH, NEW DELHI - 110026, DELHI, INDIA	B68885060
6	10382671	19/09/2013 *	160,000,000.00	UNION BANK OF INDIA	38, CENTRAL MARKET, PUNJABI BAGH, NEW DELHI - 110026, DELHI, INDIA	B89118830
7	10352354	13/05/2013 *	613,900,000.00	BANK OF BARODA	INTERNATIONAL BUSINESS BRANCH, PARLIAMENT STREET,  NEW DELHI, DELHI, INDIA	B75945477
8	10147477	07/01/2013 *	318,000,000.00	ORIENTAL BANK OF COMMERCE	35, NORTH WEST AVENUE, CLUB ROAD, PUNJABI BAGH, NEW DELHI - 110026, DELHI, INDIA	B68884444
9	90057742	29/04/2002	40,000,000.00	BANK OF BARODA	SMALKHA BRANCH, NEW DELHI, DELHI, INDIA	-
10	90056113	17/10/1996 *	2,000,000.00	BANK OF BARODA	SMALKHA BRANCH, NEW DELHI, DELHI, INDIA	-

REVIEW OF OPERATIONS:

Company had commenced its business with the trading of Chemicals and Polymer Compounds. Few years, later company realized to shift its efforts and focus towards manufacturing of Specialty Chemicals and Polymer Compounds. During 2007, it set-up a manufacturing facility at District Alwar, Shahjahanpur in the state of Rajasthan and another manufacturing unit at District. Samba in the state of Jammu & Kashmir during 2008. Both the manufacturing facilities are producing at capacity utilization of over 90% for major products of the company i.e. TPR Compound, PVC Compound, ESBO and MTM. Company had achieved a growth rate of 74% in the FY 2011-12 and 99% in FY 2012-13 in its turnover from Manufacturing Units. Thus, Contribution in total turnover of the company had seen a phenomenal growth from its manufacturing activity and growth of trading business is also positive but at a steady rate (Manufacturing Turnover was Rs. 4,459 Lacs in 2011-12 and Rs 8,879 Lacs in 2012-13).

STATEMENT OF STANDALONE AUDITED RESULTS FOR THE QUARTER AND YEAR ENDED ON 31^ST MARCH, 2014.

Sr. No.	Particulars			Rs in Millions	Rs in Millions	Rs in Millions
				Quarter ended	Quarter ended	Year ended
				As on 31.03.2014	As on 31.12.2013	As on 31.03.2014
				(Unaudited)	(Unaudited)	(Audited)
1	(a) Net Sales/Income from Operations			469.274	323.499	1692.335
	(b)Other Operating Income			14.034	1.145	23.573
	Total Income From Operations (Net)			483.308	324.644	1715.909
2	Expenditure
	(a)		Cost of Materials Consumed	224.929	183.437	850.254
	(b)		Purchases of Stock-in-Trade	137.529	86.418	606.897
	(c)		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	25.756	(10.137)	(4.887)
	(d)		Employees benefits expense	4.122	15.736	31.676
	(e)		Depreciation and amortization expense	5.606	4.672	19.054
	(f )		Other expenses	28.835	32.741	103.324
			TOTAL (B)	426.776	312.867	1606.319
3	Profit from operation before other income, interest and other exceptional items(1-2)			56.532	11.777	109.590
4	Other Income
5	profit before interest and exceptional items(3+4)			56.532	11.777	109.590
6	Interest			19.783	15.708	64.234
7	Profit after interest but before exceptional items(5-6)			36.748	(3.931)	45.356
8	Exceptional Items			(7.882)	0.000	(7.882)
9	Profit(+)/Loss(-) from Ordinary Activities before tax (7-8)			28.866	(3.931)	37.473
10	Tax Expenses			(6.786)	0.000	(7.412)
11	Net Profit(+)/Loss(-) from Ordinary Activities after tax( 9-10)			22.080	(3.931)	30.061
12	Extra Ordinary Items
13	Net Profit(+)/Loss(-) for the period (1112)			22.080	(3.931)	30.061
14	Share of profit /(loss) of associates			(2.782)	2.248	3.185
15	Net profit after taxes and share of profit / (loss) of associates			19.298	(1.683)	33.246
16	Paid-up Equity Share Capital			101.696	101.039	101.696
	Previous accounting year			299.177	266.004	299.177
17		Earning Per Share
(a)		Basic and diluted EPS before Extraordinary items for the period, for the year to date and for the previous year(not to be annualised)		0.19	(0.17)	0.33
(b)		Basic and diluted EPS after Extraordinary items for the period, for the year to date and for the previous year(not to be annualised)		0.19	(0.17)	0.33
18		Public Shareholding
		Number of Shares		58085360	5773486	58085360
		Percentage of Shareholding		57.12%	57.14%	57.12%
19		Promoters and Promoter group		43610510	4330451	43610510
		a) Pledged/Encumbered
		Number of shares
		Percentage of Shares (as a % of the total shareholding of promoter and promoter group)
		Percentage of Shares (as a % of the total share capital of the Company)
		b) Non-encumbered
		Number of shares		43610510	4330451	43610510
		Percentage of Shares (as a % of the total shareholding of promoter and promoter group)		100.00	100.00	100.00
		Percentage of Shares (as a % of the total share capital of the Company)		42.88%	42.86%	42.88%
		Particulars				3 months ended 31.03.2014
		INVESTOR COMPLAINTS
		Pending at the beginning of the quarter				NIL
		Received during the quarter				7
		Disposed off during the quarter				7
		Remaining unresolved at the end of the quarter				NIL

Notes:

1. The above results have been reviewed and recommended by the audit committee in their meeting held on 2^nd May 214 and approved by the Board of Director at their meeting held on 24^th May 2014.

2. Figures of the previous period has been regrouped and rearranged wherever necessary.

3. Status of investor complaints: Pending at the beginning of the quarter – Nil, Complaint received and disposed off during the quarter – Nil, Pending at the end of the quarter – Nil

4. The nominal value of the share has been split from Rs. 10/- each to Rs. 1/- each, As a result EPS has been calculated on the shares price of Rs. 1/ each.

AUDITED STANDALONE SEGMENT RESULTS FOR THE YEAR ENDED ON 31^ST MARCH, 2014

Particulars	For The Quarter Ended On 31.03.2014 (Unaudited)
Segment Revenue :
Chemical Division	1711.409
Real Estate Division	4.500
Total	1715.909
Segment Expenditure
Chemical Division	1610.994
Real Estate Division	0.022
Total	1611.016
Segment Results :
Chemical Division	100.414
Real Estate Division	4.478
Total	104.892
Less : Interest Expenses	64.234
Total	40.658
Capital Employed
Chemical Division	376.517
Real Estate Division	24.357
Total	400.874

FIXED ASSETS:

Land – Leasehold

Buildings

Plant and Machinery

Furniture and Fittings

Vehicles

Office Equipments

Computer Equipments

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgment or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration:

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration:

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime:

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws:

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards:

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government:

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package:

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report:

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.45
UK Pound	1	Rs.99.46
Euro	1	Rs.79.46

INFORMATION DETAILS

Information Gathered by :	NYA
Analysis Done by :	RAS
Report Prepared by :	JAY

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--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	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	YES
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		51

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.