MIRA INFORM REPORT

Report Date :

24.09.2014

IDENTIFICATION DETAILS

Name :	PLANT LIPIDS PRIVATE LIMITED
Registered Office :	A P V 433, Kadayirappu, P.O. Near Aaadom, Kolenchery, Ernakulam – 682311, Kerala
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	15.03.1979
Com. Reg. No.:	09-003044
Capital Investment / Paid-up Capital :	Rs.4.800 Millions
CIN No.: [Company Identification No.]	U15495KL1979PTC003044
TAN No.: [Tax Deduction & Collection Account No.]	CHNP01288A
PAN No.: [Permanent Account No.]	AABCP6061C
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of spices products.
No. of Employees :	250 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

A (62)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 12000000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Exist
Comments :	Subject is a well-established company having fine track record. The rating reflects company’s healthy financial risk profile marked be adequate liquidity positon and decent profitability level of the company. Trade relations are reported as fair. Business is active. Payment terms are reported to be regular and as per commitment. The company can be considered good for normal 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	CRISIL
Rating	Long term rating: A+
Rating Explanation	Adequate degree of safety and low credit risk.
Date	08.04.2014

Rating Agency Name	CRISIL
Rating	Short term rating: A1
Rating Explanation	Very strong degree of safety and lowest credit risk.
Date	08.04.2014

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

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

INFORMATION PARTED BY (GENERAL DETAILS)

Name :	Mr. Baburaj
Designation :	Accounts
Contact No.:	91-484-2760395
Date :	22.09.2014

LOCATIONS

Registered Office / Factory:	A P V 433, Kadayirappu, P.O. Near Aaadom, Kolenchery, Ernakulam – 682311, Kerala , India
Tel. No.:	91-484-2760395
Fax No.:	91-484-2760689
E-Mail :	plantlipids@vsnl.com accounts@plantlipids.com
Website :	www.plantlipids.com
Location :	Owned

DIRECTORS

As on 30.09.2013

Name :

Mr. Chennakattu John George

Designation :

Managing director

Address :

Nechupadom, Kadayirappu, P O Kolenchery, Ernakulam – 682311, Kerala , India

Date of Birth/Age :

11.05.1943

Date of Appointment :

29.09.2005

DIN No.:

00126785

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	U51225KL1999PTC013077	TROPICAL FLAVOURS PRIVATE LIMITED	Managing director	14/06/1999	14/06/1999	-	Active	NO
2	U25209KL1989PTC002907	LAMINA REINFORCED PLASTICS AND CHEMICALS PRIVATE LIMITED	Director	17/05/2005	17/05/2005	-	Amalgamated	NO
3	U15495KL2005PTC018312	AROMATIC INGREDIENTS PRIVATE LIMITED	Managing director	16/06/2005	16/06/2005	-	Active	NO
4	U15495KL1979PTC003044	PLANT LIPIDS PRIVATE LIMITED	Managing director	29/09/2005	29/09/2005	-	Active	NO
5	U70100KL2011PTC027366	BLUE RIDGE REALTORS PRIVATE LIMITED	Managing director	06/01/2011	06/01/2011	-	Active	NO
6	U15490KL2014PTC036178	AUREA BIOLABS PRIVATE LIMITED	Director	14/02/2014	14/02/2014	-	Active	NO
7	U01119KL2005PTC018061	BLUE RIDGE FARMS PRIVATE LIMITED	Additional director	05/06/2014	05/06/2014	-	Active	NO

Name :

Mr. Attokaran George Mathew

Designation :

Whole-time director

Address :

Dukes 6 C, Imperial Garden, Sky line, behind Nehrustadium, Ernakulam, Kerala , India

Date of Birth/Age :

02.01.1935

Date of Appointment :

29.09.2005

DIN No.:

00460274

Name :

Beena George

Designation :

Whole-time director

Address :

Nechupadom, Kadayirappu, P O Kolenchery, Ernakulam – 682311, Kerala , India

Date of Birth/Age :

15.07.1951

Date of Appointment :

27.09.2006

DIN No.:

00460392

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	U51225KL1999PTC013077	TROPICAL FLAVOURS PRIVATE LIMITED	Whole-time director	14/06/1999	14/06/1999	-	Active	NO
2	U15495KL1979PTC003044	PLANT LIPIDS PRIVATE LIMITED	Whole-time director	27/09/2006	27/09/2006	-	Active	NO
3	U70100KL2011PTC027366	BLUE RIDGE REALTORS PRIVATE LIMITED	Additional director	06/06/2014	06/06/2014	-	Active	NO

Name :

Mr. John George Nechupadom

Designation :

Whole-time director

Address :

Nechupadom, Kadayirappu, P O Kolenchery, Ernakulam – 682311, Kerala , India

Date of Birth/Age :

17.01.1975

Date of Appointment :

27.09.2006

DIN No.:

00126715

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	U51225KL1999PTC013077	TROPICAL FLAVOURS PRIVATE LIMITED	Whole-time director	14/06/1999	14/06/1999	-	Active	NO
2	U01119KL2005PTC018061	BLUE RIDGE FARMS PRIVATE LIMITED	Managing director	28/03/2005	28/03/2005	-	Active	NO
3	U25209KL1989PTC002907	LAMINA REINFORCED PLASTICS AND CHEMICALS PRIVATE LIMITED	Director	17/05/2005	17/05/2005	-	Amalgamated	NO
4	U15495KL2005PTC018312	AROMATIC INGREDIENTS PRIVATE LIMITED	Whole-time director	16/06/2005	16/06/2005	-	Active	NO
5	U15495KL1979PTC003044	PLANT LIPIDS PRIVATE LIMITED	Whole-time director	27/09/2006	27/09/2006	-	Active	NO
6	U70100KL2011PTC027366	BLUE RIDGE REALTORS PRIVATE LIMITED	Director	06/01/2011	06/01/2011	-	Active	NO
7	U15490KL2014PTC036178	AUREA BIOLABS PRIVATE LIMITED	Managing director	14/02/2014	14/02/2014	-	Active	NO

Name :

Mariam George

Designation :

Whole-time director

Address :

Nechupadom, Kadayirappu, P O Kolenchery, Ernakulam – 682311, Kerala , India

Date of Birth/Age :

30.05.1973

Date of Appointment :

29.09.2004

DIN No.:

00460513

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	U51225KL1999PTC013077	TROPICAL FLAVOURS PRIVATE LIMITED	Whole-time director	14/06/1999	14/06/1999	-	Active	NO
2	U15495KL1979PTC003044	PLANT LIPIDS PRIVATE LIMITED	Whole-time director	29/09/2004	29/09/2004	-	Active	NO
3	U70100KL2011PTC027366	BLUE RIDGE REALTORS PRIVATE LIMITED	Additional director	06/06/2014	06/06/2014	-	Active	NO

Name :

Sareeka John Nechupadom

Designation :

Whole-time director

Address :

Nechupadom, Kadayirappu, P O Kolenchery, Ernakulam – 682311, Kerala , India

Date of Birth/Age :

18.05.1979

Date of Appointment :

29.09.2004

DIN No.:

00460599

Name :

Bechu Kurian Thomas

Designation :

Director

Address :

Thadathil House, 26/512-A, Yacht-Ciub, Enclave, Konthuruthy, Ernakulam – 682013, Kerala , India

Date of Birth/Age :

05.12.1968

Date of Appointment :

29.09.2005

DIN No.:

01213936

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	U01119KL2005PTC018061	BLUE RIDGE FARMS PRIVATE LIMITED	Director	28/03/2005	28/03/2005	-	Active	NO
2	U15495KL2005PTC018312	AROMATIC INGREDIENTS PRIVATE LIMITED	Director	16/06/2005	16/06/2005	-	Active	NO
3	U15495KL1979PTC003044	PLANT LIPIDS PRIVATE LIMITED	Director	29/09/2005	29/09/2005	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Baburaj
Designation :	Accounts

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2013

Names of Shareholders	No. of Shares
C J George	5970
Beena George	7330
Varghese Jacob	700
John George N	19552
Mariam George	6100
Aju Jacob	50
Herbal Isolates Private Limited, India	50
Gladson K Chacko	400
Wilson K Chacko	450
Glady Mol K Chacko	550
A G Mathew	200
Saramma V Jacob	250
Bechu Kurian Thomas	1500
Paulsone John	100
Thomas John	200
Jacob Issac	950
Neelam Varghese	100
Neethi Varghese	100
Sareeka John N	50
Suzanne Kurian	1350
Tharun Thomas Kurian	1350
Anaika Sarah Nechupadom	350
Miria Anna Nechupadom	350
Total	48002

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2013

Category	Percentage
Directors or relatives of Directors	92.00
Other top fifty shareholders	8.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of spices products.

Products :

Item Code No.	Product Description
09041200	Crushed or ground Black Pepper
33019029	Paprika Oleoresin
09051000	Vanilla Beans Cured
09062000	Crushed or ground Cassia
09072000	Crushed or ground Clove
09081200	Crushed or ground Nutmeg
09093200	Crushed or ground cumin
09103030	Turmeric (Curcuma): Powder
13019032	Olibanum Resinoid
13023900	Redbeet Extract

Exports :

Products :

Finished Goods

Countries :

· US

· Germany

Imports :

Countries :

Sri Lanka

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

GENERAL INFORMATION

No. of Employees :

250 (Approximately)

Bankers :

· State Bank of Travancore, Kolenchery Main Branch, Kolenchery, Ernakulam - 682311, Kerala, India

· HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel West, Mumbai - 400013, Maharashtra, India

· State Bank of Travancore, Kolencherry Main Branch, Kolencherry, Ernakulam - 682311, Kerala, India

· Union Bank of India, Overseas Branch, M G Road, Ernakulam - 682035, Kerala, India

· Citibank NA, Photofast House, Door No.38/1581, M G Road Padma Junction, Kochi - 682035, Kerala, India

Facilities :

Secured Loan	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
Long-term Borrowings
Foreign currency term loans from banks	29.711	39.555
Short-term borrowings
Working capital loans from banks	1883.695	1390.365
Total	1913.406	1429.920

Banking Relations :
Auditors :
Name :	Elias George and Company Chartered Accountants
Address :	B-16, HIG Avenue, Gandhi Nagar, Cochi- 682 020, Kerala, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAAFE5440J
Subsidiary company:	· Plant lipids Europe GMBH · Plant Lipids Lanka Private Limited · Plant Lipids (Thailand) Company Limited
Associate:	· Blue Ridge Realtors Private Limited, India [U70100KL2011PTC027366]
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives:	· Tropical Flavours Private Limited, India [U51225KL1999PTC013077] · Blue Ridge Farms Private Limited, India [U01119KL2005PTC018061] · Aromatic Ingredients Private Limited, India [U15495KL2005PTC018312]

CAPITAL STRUCTURE

As on 31.03.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
120000	Equity Shares	Rs.100/- each	Rs. 12.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
48002	Equity Shares	Rs.100/- each	Rs. 4.800 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	4.800	4.800	4.800
(b) Reserves & Surplus	3014.190	2405.671	1820.920
(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)	3018.990	2410.471	1825.720
(3) Non-Current Liabilities
(a) long-term borrowings	29.711	39.555	65.819
(b) Deferred tax liabilities (Net)	27.674	34.218	30.533
(c) Other long term liabilities	0.680	0.680	0.000
(d) long-term provisions	8.167	5.922	3.260
Total Non-current Liabilities (3)	66.232	80.375	99.612
(4) Current Liabilities
(a) Short term borrowings	1883.695	1390.365	1305.997
(b) Trade payables	188.408	254.836	516.977
(c) Other current liabilities	111.828	152.435	138.742
(d) Short-term provisions	16.848	16.737	11.157
Total Current Liabilities (4)	2200.779	1814.373	1972.873
TOTAL	5286.001	4305.219	3898.205
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	373.587	346.838	345.856
(ii) Intangible Assets	6.052	4.471	0.074
(iii) Capital work-in-progress	16.423	19.331	5.119
(iv) Intangible assets under development	0.000	2.537	5.070
(b) Non-current Investments	197.981	122.328	150.572
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	449.405	147.040	73.510
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	1043.448	642.545	580.201
(2) Current assets
(a) Current investments	194.197	164.799	40.706
(b) Inventories	2176.158	1593.387	1639.876
(c) Trade receivables	1436.048	1309.104	934.789
(d) Cash and cash equivalents	114.927	147.484	250.828
(e) Short-term loans and advances	275.677	406.679	422.927
(f) Other current assets	45.546	41.221	28.878
Total Current Assets	4242.553	3662.674	3318.004
TOTAL	5286.001	4305.219	3898.205

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2013	31.03.2012	31.03.2011
	SALES
	Income	6090.400	5656.900	3800.309
	Other Income
	TOTAL (A)	6090.400	5656.900	3800.309
Less	EXPENSES (B)	5055.900	4647.600	3123.687
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	1034.500	1009.300	676.622
Less	FINANCIAL EXPENSES (D)	83.500	61.900	21.599
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	951.000	947.400	655.023
Less/ Add	DEPRECIATION/ AMORTISATION (F)	63.200	60.400	52.804
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	887.800	887.000	602.219
Less	TAX (I)	262.400	285.500	192.850
	PROFIT/ (LOSS) AFTER TAX (G-I) (J)	625.400	601.500	409.369
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	832.000	377.300	79.104
Less	APPROPRIATIONS
	Proposed Dividend	14.400	14.400	9.600
	Dividend Distribution Tax	2.400	2.300	1.557
	Transfer To General Reserve	100.000	100.000	100.000
	Balance Carried to the B/S	1340.600	862.100	377.316
	Earnings / (Loss) Per Share (Rs.)	13028.62	NA	NA

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
PAT / Total Income	(%)	10.27	10.63	10.77
Net Profit Margin (PBT/Sales)	(%)	14.58	15.68	15.85
Return on Total Assets (PBT/Total Assets}	(%)	17.51	21.32	16.11
Return on Investment (ROI) (PBT/Networth)		0.29	0.37	0.33
Debt Equity Ratio (Total Debt /Networth)		0.63	0.59	0.75
Current Ratio (Current Asset/Current Liability)		1.93	2.02	1.68

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	4.800	4.800	4.800
Reserves & Surplus	1820.920	2405.671	3014.190
Net worth	1825.720	2410.471	3018.990
long-term borrowings	65.819	39.555	29.711
Short term borrowings	1305.997	1390.365	1883.695
Total borrowings	1371.816	1429.920	1913.406
Debt/Equity ratio	0.751	0.593	0.634

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)
Total Income	3800.309	5656.900	6090.400
		48.854	7.663

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Total Income	3800.309	5656.900	6090.400
Profit	409.369	601.500	625.400
	10.77%	10.63%	10.27%

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%	--
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
21]	Market information	--
22]	Litigations that the firm / promoter involved in	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

KERALA HIGH COURT
CASE STATUS INFORMATION SYSTEM

Case Status         :  PENDING

Status of          UNNUMBERED INCOME TA  1596        of    2009           

THE COMMISSIONER OF INCOME TAX, COCHIN                 Vs.                  PLANT LIPIDS PRIVATE LIMITED., KOLENCHERRY

Pet's Adv.            :   SRI.JOSE JOSEPH, SC, FOR                   

Res's Adv.           :       

Last Listed On :     No Date Mentioned     

Category             :   INCOME TAX APPEAL

CONNECTED APPLICATION (S) No Connected Application

CONNECTED MATTER (S) No Connected Matter

Case Updated on:   Thursday, June 18, 2009

Top of Form

Bottom of Form

OPERATIONS

The audited accounts for the year ended 31-03-2013 could not be placed at the Annual General Meeting held on 30.09.2013 as the audit of accounts were not completed as more details were to be gathered to facilitate the incorporation of some entries and as there was delay in Data Management Systems including data retrieving on account of the installation of New ERP system for the year ended 31-03-2013 The audit is completed and the accounts are placed now before the for adoption.

During this period, the company has achieved a total turnover of Rs. 6090.400 Millions as compared to that of Rs. 5656.900 Millions in the previous year. So, our sales for the current year grew by 7.66% over the previous year. During the year the company has earned a net profit of Rs 625.400 Millions as compared to net profit of Rs.601.500 Millions in previous year. Therefore, our net profit for the current year grew by 3.97% over the previous year. The Company’s performance for the year 2012-13 has to be viewed in the context of the sluggish economic and market environment that is still continuing in the European Union and in the United States.

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10360868	06/12/2012 *	50,000,000.00	UNION BANK OF INIDA	OVERSEAS BRANCH, M G ROAD, ERNAKULAM, KERALA - 68 2035, INDIA	B63777775
2	10275124	08/05/2013 *	37,500,000.00	UNION BANK OF INDIA	OVERSEAS BRANCH, M G ROAD, ERNAKULAM, KERALA - 68 2035, INDIA	B76551175
3	10160248	31/07/2014 *	350,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA	C19081793
4	10111542	28/04/2012 *	16,200,000.00	UNION BANK OF INDIA	OVERSEAS BRANCH, M G ROAD, ERNAKULAM, KERALA - 682035, INDIA	B41727603
5	10021680	19/10/2011 *	63,000,000.00	STATE BANK OF TRAVANCORE	KOLENCHERY MAIN BRANCH, KOLENCHERY, ERNAKULAM, KERALA - 682311, INDIA	B25665118
6	90023270	28/04/2012 *	7,800,000.00	UNION BANK OF INDIA	OVERSEAS BRANCH, M G ROAD, ERNAKULAM, KERALA - 682035, INDIA	B41729468
7	90019615	25/08/2014 *	1,400,000,000.00	CITIBANK N.A	PHOTOFAST HOUSE, DOOR NO.38/1581, M G ROAD PADMA JUNCTION, KOCHI, KERALA - 682035, INDIA	C18538389
8	90018977	16/07/2014 *	207,500,000.00	STATE BANK OF TRAVANCORE	KOLENCHERY MAIN BRANCH, KOLENCHERY, ERNAKULAM, KERALA - 682311, INDIA	C18275891
9	90015995	05/11/1992	225,000.00	STATE BANK OF INDIA	M.G. ROAD, ERNAKULAM, KERALA, INDIA	-
10	90015747	08/05/2013 *	1,350,000,000.00	UNION BANK OF INDIA	OVERSEAS BRANCH, M G ROAD, ERNAKULAM, KERALA - 68 2035, INDIA	B76551845

* Date of charge modification

FIXED ASSETS

Tangible assets

· Land

· Buildings

· Office building

· Plant and equipment

· Emission reduction equipment

· Furniture and fixtures

· Vehicles

· Office equipment

· Computer equipments

Intangible assets

· Computer software

· Know-how

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.60.87
UK Pound	1	Rs.99.63
Euro	1	Rs.78.22

INFORMATION DETAILS

Information Gathered by :	GYT
Analysis Done by :	KAR
Report Prepared by :	KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILIRY	1~10	7
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	7
--CREDIT LINES	1~10	7
--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		62

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.