MIRA INFORM REPORT

Report No. :	317107
Report Date :	11.04.2015

IDENTIFICATION DETAILS

Name :	MADURA INDUSTRIAL TEXTILES LIMITED
Registered Office :	1, Janki Centre, Off Veera Desai Road, Andheri (West), Mumbai – 400 053, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	06.09.2010
Com. Reg. No.:	11-207473
Capital Investment / Paid-up Capital :	Rs. 100.000 Million
CIN No.: [Company Identification No.]	U17120MH2010PLC207473
TAN No.: [Tax Deduction & Collection Account No.]	MUMM38978C
PAN No.: [Permanent Account No.]	AAGCM7939P
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturing, importing of Tire coat Fabrics
No. of Employees :	200 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (29)

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

Maximum Credit Limit :	USD 900000
Status :	Moderate
Payment Behaviour :	Slow But Correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. The rating is constrained on account of a loss incurred by the company during FY 2014 and also the borrowings recorded by the company are huge and increasing over years. However, trade relations are reported as fair. Business is active. Payments terms are reported to be slow but correct. The company can be considered for business dealings with some caution.

NOTES :

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

ECGC Country Risk Classification List – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	Not Available

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. Manoj
Designation :	Finance Manager
Contact No.:	91-2226730890

LOCATIONS

Registered Office :	1, Janki Centre, Off Veera Desai Road, Andheri (West), Mumbai – 400 053, Maharashtra, India
Tel. No.:	91-2226730890 (Mr. Manoj)/ 32168400/ 32168401/ 32168402 / 2673089/ 26730892
Fax No.:	91-22-26730889/ 66916245
E-Mail :	sanil@maduratex.com info@maduratex.com
Website :	www.maduratex.com
Location :	Owned
Head Office :	1, Janki Centre, Off Veera Desai Road, Andheri (West), Mumbai – 400 053, Maharashtra, India
Tel. No.:	91-22-26730890/ 22-26730891/ 22-26730892/ 22-32168400/ 22-32168400/ 22-32168401/ 22-32168402
Fax No.:	91-22-26730889,66916245
E-Mail :	Info@maduratex.com
Factory :	Plot No.60/1 and 60/2, Demni Village, Near UCPL, Dadra – 396 193, Dadra and Nagar Haveli, India
Tel. No.:	91-260-2669005/ 6
E-Mail :	Info@maduratex.com

DIRECTORS

As on 30.09.2014

Name :

Mr. Anil Radheshyam Kalra

Designation :

Whole-time director

Address :

12, Royal Accord, Lokhandwala Complex, Andheri (West), Mumbai – 400 053, Maharashtra, India

Date of Birth/Age :

30.09.1959

Date of Appointment :

05.02.2011

DIN No.:

00119633

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	U29130MH1988PTC046684	HINDUSTAN RUBBERS INDUSTRIES PRIVATE LIMITED	Managing director	08/05/13	29/08/92	-	Active	NO
2	U25192MH1991PTC062085	RAVASCO TRANSMISSION AND PACKING PRIVATE LIMITED	Whole-time director	29/08/92	29/08/92	-	Active	NO
3	U74999MH1990PTC056187	MITKORD STEEL PRIVATE LIMITED	Director	07/10/08	07/10/08	-	Active	NO
4	U17120MH2010PLC207473	MADURA INDUSTRIAL TEXTILES LIMITED	Whole-time director	05/02/11	06/09/10	-	Active	NO

Name :

Mr. Sanil Radheshyam Kalra

Designation :

Whole-time director

Address :

11, Royal Accord III, Lokhandwala Complex, Andheri (West), Mumbai – 400 053, Maharashtra, India

Date of Birth/Age :

18.06.1962

Date of Appointment :

05.02.2011

DIN No.:

00119674

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	U29130MH1988PTC046684	HINDUSTAN RUBBERS INDUSTRIES PRIVATE LIMITED	Director	29/08/92	29/08/92	-	Active	NO
2	U25192MH1991PTC062085	RAVASCO TRANSMISSION AND PACKING PRIVATE LIMITED	Managing director	08/05/13	29/08/92	-	Active	NO
3	U74999MH1990PTC056187	MITKORD STEEL PRIVATE LIMITED	Director	07/10/08	07/10/08	-	Active	NO
4	U24232MH2010PTC199429	FULLIFE HEALTHCARE PRIVATE LIMITED	Director	22/07/11	15/05/10	21/04/14	Active	NO
5	U17120MH2010PLC207473	MADURA INDUSTRIAL TEXTILES LIMITED	Whole-time director	05/02/11	06/09/10	-	Active	NO

Name :

Mrs. Promilla Raman Kalra

Designation :

Whole-time director/ Executive Director

Address :

22, Royal Accord III, Lokhandwala Complex, Andheri (West), Mumbai – 400 053, Maharashtra, India

Date of Birth/Age :

03.06.1956

Date of Appointment :

05.02.2011

DIN No.:

00119711

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	U25192MH1991PTC062085	RAVASCO TRANSMISSION AND PACKING PRIVATE LIMITED	Whole-time director	01/06/02	01/06/02	-	Active	NO
2	U17120MH2010PLC207473	MADURA INDUSTRIAL TEXTILES LIMITED	Whole-time director	05/02/11	06/09/10	-	Active	NO

Name :

Mr. Vipan Ramnath Kalra

Designation :

Whole-time director

Address :

21, Royal Accord III, Lokhandwala Complex, Andheri (West), Mumbai – 400 053, Maharashtra, India

Date of Birth/Age :

10.10.1953

Date of Appointment :

05.02.2011

DIN No.:

00122168

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	U29130MH1988PTC046684	HINDUSTAN RUBBERS INDUSTRIES PRIVATE LIMITED	Director	29/08/92	29/08/92	-	Active	NO
2	U25192MH1991PTC062085	RAVASCO TRANSMISSION AND PACKING PRIVATE LIMITED	Whole-time director	29/08/92	29/08/92	-	Active	NO
3	U74999MH1990PTC056187	MITKORD STEEL PRIVATE LIMITED	Director	07/10/08	07/10/08	-	Active	NO
4	U17120MH2010PLC207473	MADURA INDUSTRIAL TEXTILES LIMITED	Whole-time director	05/02/11	06/09/10	-	Active	NO

Name :

Mr. Rishi Raman Kalra

Designation :

Managing Director

Address :

22, Royal Accord III, Lokhandwala Complex, Andheri (West), Mumbai – 400 053, Maharashtra, India

Date of Birth/Age :

14.06.1983

Date of Appointment :

05.02.2011

DIN No.:

00122132

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	U29130MH1988PTC046684	HINDUSTAN RUBBERS INDUSTRIES PRIVATE LIMITED	Director	02/12/02	02/12/02	-	Active	NO
2	U17120MH2010PLC207473	MADURA INDUSTRIAL TEXTILES LIMITED	Managing director	05/02/11	06/09/10	-	Active	NO

Name :

Mr. Gautam Vipan Kalra

Designation :

Managing director

Address :

21, Royal Accord, III, Lokhandwala Andheri (West), Mumbai – 400 053, Maharashtra, India

Date of Birth/Age :

09.07.1982

Date of Appointment :

05.02.2011

DIN No.:

03052859

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	U17120MH2010PLC207473	MADURA INDUSTRIAL TEXTILES LIMITED	Managing director	05/02/11	06/09/10	-	Active	NO

Name :

Mr. Varun Anil Kalra

Designation :

Whole-time director (Executive Director)

Address :

12, Royal Accord III, Lokhandwala Complex, Andheri (West), Mumbai – 400 053, Maharashtra, India

Date of Birth/Age :

04.01.1985

Date of Appointment :

05.02.2011

DIN No.:

03052960

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	U17120MH2010PLC207473	MADURA INDUSTRIAL TEXTILES LIMITED	Whole-time director	05/02/11	06/09/10	-	Active	NO

Name :

Mr. Jitesh Sanil Kalra

Designation :

Director

Address :

11, Royal Accord III, Lokhandwala Complex, Andheri (West), Mumbai – 400 053, Maharashtra, India

Date of Birth/Age :

27.04.1989

Date of Appointment :

19.12.2011

DIN No.:

03421617

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	U17120MH2010PLC207473	MADURA INDUSTRIAL TEXTILES LIMITED	Director	19/12/11	31/03/11	-	Active	NO

Name :

Ms. Richa Vipan Kalra

Designation :

Director

Address :

21, Royal Accord III, Lokhandwala, Andheri (West), Mumbai – 400 053, Maharashtra, India

Date of Birth/Age :

24.10.1987

Date of Appointment :

19.12.2011

DIN No.:

03421618

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	U17120MH2010PLC207473	MADURA INDUSTRIAL TEXTILES LIMITED	Director	19/12/11	31/03/11	-	Active	NO

Name :

Mr. Raghav Raman Kalra

Designation :

Director

Address :

22, Royal Accord III, Lokhandwala Complex, Andheri (West), Mumbai – 400 053, Maharashtra, India

Date of Birth/Age :

20.04.1989

Date of Appointment :

19.12.2011

DIN No.:

03421621

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	U17120MH2010PLC207473	MADURA INDUSTRIAL TEXTILES LIMITED	Director	19/12/11	31/03/11	-	Active	NO

Name :

Mr. Tarun Anil Kalra

Designation :

Director

Address :

12, Royal Accord III, Lokhandwala Complex, Andheri (West), Mumbai – 400 053, Maharashtra, India

Date of Birth/Age :

17.08.1991

Date of Appointment :

30.09.2014

DIN No.:

06607384

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	U17120MH2010PLC207473	MADURA INDUSTRIAL TEXTILES LIMITED	Director	30/09/14	23/12/13	-	Active	NO

Name :

Mr. Sahil Sanil Kalra

Designation :

Director

Address :

11, Royal Accord III, Lokhandwala Complex, Andheri (West), Mumbai – 400 053, Maharashtra, India

Date of Birth/Age :

25.01.1993

Date of Appointment :

30.09.2014

DIN No.:

06814372

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	U17120MH2010PLC207473	MADURA INDUSTRIAL TEXTILES LIMITED	Director	30/09/14	22/02/14	-	Active	NO

KEY EXECUTIVES

Name :	Mayank Gulshan Arora
Designation :	Company Secretary
Address :	B-29, Flat No.001, Scn Apartments, Thakur Complex, Kandivali (East), Mumbai - 400101
Date of Birth/Age :	20.01.1991
Date of Appointment :	01.04.2014

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders	No. of Shares
Vipan Ramnath Kalra	250000
Anil Radheshyam Kalra	250000
Sanil Radheshyan Kalra	1250000
Promilla Raman Kalra	250000
Gautam Vipan Kalra	1000000
Rishi Raman Kalra	1000000
Varun Anil Kalra	1000000
Sahil Sanil Kalra Sucheta Sanil Kalra	625000
Anil Radheshyam Kalra Asha Anil Kalra	500000
Tarun Anil Kalra Asha Anil Kalra	750000
Jitesh Sanil Kalra Sucheta Sanil Kalra	625000
Gautam Vipan Kalra Ashna Gautam Kalra	250000
Promilla Raman Kalra Rishi Raman Kalra	500000
Raghav Raman Kalra Promilla Raman Kalra	750000
Vipan Ramnath Kalra Rachna Vipan Kalra	1000000
Total	10000000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturing, importing of Tire coat Fabrics
Products :	PA 6/ Nylon 6 – Chips PA 6/ Nylon 6 – Yarns Tire Fabrics Conveyor Belting Fabrics Specialty Fabrics Coated Fabrics
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Divulged
Imports :
Products :	Caprolactam
Countries :	China
Terms :
Selling :	Credit (30 Days)
Purchasing :	Credit (30 Days)

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

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

Customers :

Reference :	Appolo Tire Limited
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

No. of Employees :

200 (Approximately)

Bankers :

Bank Name	Saraswat Cooperative Bank Limited
Branch	SME Vile Parle Branch, Bholanath Co-op Housing Society, Subhash Road, Vile Parle East, Mumbai – 4000057, Maharashtra, India
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Term Loan from banks	1094.989	1044.437
Short-term borrowings
Rupee term loans from banks	386.015	280.245
Working capital loans from banks	90.808	0.000
Loans and advances from related parties	786.686	606.035
Total	2358.498	1930.717

Auditors :
Name :	J & K Agarwal and Company Chartered Accountants
Address :	204, Camy House, Chartered Accountants 3, Dhus Wadi, Dr. C.H. Street, Mumbai – 400 002, Maharashtra, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAAFJ1781F
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Ravasco Transmission and Packing Private Limited Hindustan Rubbers Industries Private Limited Hindustan Rubbers Silvassa

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
10,000,000	Equity Shares	Rs.10/- each	Rs. 100.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10,000,000	Equity Shares	Rs.10/- each	Rs.100.000 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I.              EQUITY AND LIABILITIES
(1)Shareholders' Funds	100.000	100.000	100.000
(a) Share Capital	228.047	335.756	249.406
(b) Reserves & Surplus	0.000	0.000	0.000
(c) Money received against share warrants
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	328.047	435.756	349.406
(3) Non-Current Liabilities
(a) long-term borrowings	1094.989	1044.437	660.019
(b) Deferred tax liabilities (Net)	144.523	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.012
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	1239.512	1044.437	660.031
(4) Current Liabilities
(a) Short term borrowings	1263.509	886.280	768.012
(b) Trade payables	872.486	693.971	772.682
(c) Other current liabilities	184.164	290.275	16.874
(d) Short-term provisions	0.000	0.585	52.723
Total Current Liabilities (4)	2320.159	1871.111	1610.291
TOTAL	3887.718	3351.304	2619.728
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1808.935	401.169	392.998
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	397.910	1776.853	1159.193
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	1.528	0.028	0.025
(c) Deferred tax assets (net)	0.000	3.243	7.527
(d) Long-term Loan and Advances	50.885	20.367	32.997
(e) Other Non-current assets	0.000	0.000	0.631
Total Non-Current Assets	2259.258	2201.660	1593.371
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	438.112	304.322	197.306
(c) Trade receivables	723.981	435.645	425.362
(d) Cash and cash equivalents	145.383	102.481	63.445
(e) Short-term loans and advances	288.497	295.792	340.244
(f) Other current assets	32.487	11.404	0.000
Total Current Assets	1628.460	1149.644	1026.357
TOTAL	3887.718	3351.304	2619.728

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	2888.532	2454.700	2442.100
	Other Income	28.520	8.783	5.969
	TOTAL (A)	2917.052	2463.483	2448.069
Less	EXPENSES
	Cost of Materials Consumed	2148.656	1917.041	1842.967
	Purchases of Stock-in-Trade	0.000	0.000	0.000
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(159.812)	(17.117)	(67.462)
	Employees benefits expense	122.289	80.077	52.398
	Other expenses	417.245	216.897	257.494
	TOTAL (B)	2528.378	2196.898	2085.397
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	388.674	266.585	362.672
Less	FINANCIAL EXPENSES (D)	257.385	111.721	110.273
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	131.289	154.864	252.399
Less/ Add	DEPRECIATION/ AMORTISATION (F)	92.198	43.455	46.730
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	39.091	111.409	205.669
Less	TAX (I)	147.765	24.788	46.336
	PROFIT/ (LOSS) AFTER TAX (G-I) (J)	(108.674)	86.621	159.333
	Earnings / (Loss) Per Share (Rs.)	0.00	8.75	15.93

Expected Sales (2014-2015): Rs.380.000 Million

The above information has been parted by Mr. Manoj (Finance Manager)

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	(3.76)	3.53	6.52
Operating Profit Margin (PBIDT/Sales)	(%)	13.46	10.86	14.85
Return on Total Assets (PBT/Total Assets}	(%)	1.12	7.09	14.15
Return on Investment (ROI) (PBT/Networth)		0.12	0.26	0.59
Debt Equity Ratio (Total Debt /Networth)		7.19	4.43	4.09
Current Ratio (Current Asset/Current Liability)		0.70	0.61	0.64

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	100.000	335.756	228.047
Reserves & Surplus	249.406	0.000	0.000
Net worth	349.406	335.756	228.047
long-term borrowings	660.019	1044.437	1094.989
Short term borrowings	768.012	886.280	1263.509
Total borrowings	1428.031	1930.717	2358.498
Debt/Equity ratio	4.087	5.750	10.342

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	2442.100	2454.700	2888.532
		0.516	17.674

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	2442.100	2454.700	2888.532
Profit	159.333	86.621	(108.674)
	6.52%	3.53%	(3.76%)

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	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	--
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	--
26]	Buyer visit details	--
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10470338	01/01/2014	10,600,000.00	THE SARASWAT COOPERATIVE BANK LTD	SME VILE PARLE BRANCH, BHOLANATH CO-OP HSG SOC, SUBHASH ROAD, VILE PARLE EAST, MUMBAI, MAHARASHTRA - 400057, INDIA	B93534618
2	10451257	23/09/2013	35,600,000.00	THE SARASWAT COOPERATIVE BANK LTD	SME VILE PARLE BRANCH, BHOLANATH CO-OP HSG SOC, SUBHASH ROAD, VILE PARLE EAST, MUMBAI, MAHARASHTRA - 400057, INDIA	B85796753
3	10430103	22/05/2013	119,500,000.00	THE SARASWAT COOPERATIVE BANK LTD	SME VILE PARLE BRANCH, BHOLANATH CO-OP HSG SOC, SUBHASH ROAD, VILE PARLE EAST, MUMBAI, MAHARASHTRA - 400057, INDIA	B76675487
4	10422501	12/04/2013	60,000,000.00	THE SARASWAT COOPERATIVE BANK LTD	SME VILE PARLE BRANCH, BHOLANATH CO-OP HSG SOC, SUBHASH ROAD, VILE PARLE EAST, MUMBAI, MAHARASHTRA - 400057, INDIA	B73948614
5	10422503	06/04/2013	58,500,000.00	THE SARASWAT COOPERATIVE BANK LTD	SME VILE PARLE BRANCH, BHOLANATH CO-OP HSG SOC, SUBHASH ROAD, VILE PARLE EAST, MUMBAI, MAHARASHTRA - 400057, INDIA	B73948143
6	10401462	18/01/2013	69,300,000.00	THE SARASWAT COOPERATIVE BANK LTD	SME VILE PARLE BRANCH, BHOLANATH CO-OP HSG SOC, SUBHASH ROAD, VILE PARLE EAST, MUMBAI, MAHARASHTRA - 400057, INDIA	B67338442
7	10383485	18/09/2012	36,500,000.00	THE SARASWAT COOPERATIVE BANK LTD	SME VILE PARLE BRANCH, BHOLANATH CO-OP HSG SOC, SUBHASH ROAD, VILE PARLE EAST, MUMBAI, MAHARASHTRA - 400057, INDIA	B60903606
8	10443347	31/08/2012	37,500,000.00	THE SHAMRAO VITHAL COOP BANK LTD	VERSOVA : 7 SARKAR CORNER ,J.P ROAD,, NEAR ANDHERI SPORTS COMPLEX, ANDHERI(W), MUMBAI, MAHARASHTRA  - 400058, INDIA	B77652790
9	10377601	31/08/2012	243,500,000.00	THE SARASWAT COOPERATIVE BANK LTD	SME VILE PARLE BRANCH, BHOLANATH CO-OP HSG SOC, SUBHASH ROAD, VILE PARLE EAST, MUMBAI, MAHARASHTRA - 400057, INDIA	B58487109
10	10355488	11/05/2012	53,500,000.00	THE SARASWAT COOPERATIVE BANK LTD	SME VILE PARLE BRANCH, BHOLANATH CO-OP HSG SOC, SUBHASH ROAD, VILE PARLE EAST, MUMBAI, MAHARASHTRA - 400057, INDIA	B39555842

FIXED ASSETS

Tangible assets

• Land
• Buildings
• Plant and equipment
• Furniture and fixtures
• Vehicles
• Office equipment

CMT REPORT (Corruption, Money Laundering & Terrorism]

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

1] INFORMATION ON DESIGNATED PARTY

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

2] Court Declaration :

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

3] Asset Declaration :

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

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

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

Charges or investigation registered against subject: None

7] Criminal Records

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

8] Affiliation with Government :

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

9] Compensation Package :

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

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

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

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

CONTRAVENTION

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

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.37
UK Pound	1	Rs.91.60
Euro	1	Rs.66.49

INFORMATION DETAILS

Information Gathered by :	KAM
Analysis Done by :	DIV
Report Prepared by :	GTA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILITY	1~10	2
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	4
--CREDIT LINES	1~10	3
--MARGINS	-5~5
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		29

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.