MIRA INFORM REPORT

Report No. :	318316
Report Date :	25.04.2015

IDENTIFICATION DETAILS

Name :	ALCON ELECTRONICS PRIVATE LIMITED
Registered Office :	34-B, MIDC Industrial Area, Satpur, Nashik - 422007, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	01.09.1973
Com. Reg. No.:	11-016792
Capital Investment / Paid-up Capital :	Rs. 50.392 Million
CIN No.: [Company Identification No.]	U32109MH1973PTC016792
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AABCA3434A
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of High CV Aluminum Electrolytic Capacitors
No. of Employees :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Maximum Credit Limit :	USD 440000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an old and well-established company having satisfactory track. The company has decent profit margin which is more than 10% of its total sales. The company has earned 35% of its income from exports during FY2014. Further it has fair liquidity during year under review. Trade relations reported to be fair. Business is active. Payments are reported to be usually correct. The company can be considered for business dealings at usual trade terms and conditions.

NOTES :

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

ECGC Country Risk Classification List – 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	CRISIL
Rating	Long term rating = “BB”
Rating Explanation	Inadequate credit quality and high credit risk
Date	11.09.2014

Rating Agency Name	CRISIL
Rating	Short term rating = “A4+”
Rating Explanation	Minimal degree of safety and very high credit risk.
Date	11.09.2014

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 DECLINED

Management non co-operative (91-253-2350533/2350237)

LOCATIONS

Registered Office / Factory :	34-B, MIDC Industrial Area, Satpur, Nashik 422007, Maharashtra, India
Tel. No.:	91-253-2350533/2350237
Fax No.:	91-253-2350237/2351682
E-Mail :	bwbadhan@gmail.com mail@alconelectronics.com mail@alconelectronics.net sales@alconelectronics.net sudhir.under@alconelectronics.com
Website:	www.alconelectronics.com
Sales Network:	Domestic Network Mumbai New Delhi Kolkata Pune Chennai Bengaluru Coimbatore Kochi Baroda Hyderabad Jaipur Global Network Australia China Czech Republic Denmark Finland Germany South Africa South Korea Spain Switzerland Turkey U.K. U.S.A Taiwan Iran Egypt

DIRECTORS

As on 28.08.2014

Name :

Mr. Maharajkrishna Bansilal Birmani

Designation :

Director

Address :

Deepak Mahal Nam Road, Delolali, Nashik-422401, Maharashtra, India

Date of Birth/Age :

31.05.1945

Date of Appointment :

01.09.2006

DIN No.:

00179871

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	U31907GA1993PTC001417	SIVA EQUIPMENT PRIVATE LIMITED	Director	25/08/1993	25/08/1993	-	Active	NO
2	U72200GA2001PTC002961	SIVA SYSTEMS PRIVATE LIMITED	Director	12/03/2001	12/03/2001	-	Active	NO
3	U33112GA2001PTC002998	YASHTECH MEDISOFT PRIVATE LIMITED	Director	18/07/2001	18/07/2001	-	Strike off	NO
4	U32109MH1973PTC016792	ALCON ELECTRONICS PRIVATE LIMITED	Director	01/09/2006	01/09/2006	-	Active	NO
5	U31909MH2004PTC148945	ALCAP ELECTRONICS PRIVATE LIMITED	Director	01/09/2006	01/09/2006	-	Active	NO

Name :

Mr. Siddharth Anup Sachdev

Designation :

Director

Address :

Santosh 54-55-56/B, D’ Souza Gangapur Housing Colony, College Road, Nashik – 422005, Maharashtra, India

Date of Birth/Age :

18.05.1981

Date of Appointment :

04.10.2004

Qualification :

Bcom. and MBA

DIN No.:

00331733

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	U32109MH1973PTC016792	ALCON ELECTRONICS PRIVATE LIMITED	Director	04/10/2004	04/10/2004	-	Active	NO
2	U31909MH2004PTC148945	ALCAP ELECTRONICS PRIVATE LIMITED	Director	30/05/2005	30/05/2005	-	Active	NO

Name :

Mr. Sushil Ratanlal Morarka

Designation :

Director

Address :

24-B, Morarka House, Ground Floor, M.L. Dahanukar Marg, Mumbai-400026, Maharashtra, India

Date of Birth/Age :

06.10.1951

Date of Appointment :

01.09.2006

DIN No.:

01399879

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	U21090KA1979PLC003469	TUNGABHADRA PULP AND BOARD MILLS LIMITED	Director	27/08/1979	27/08/1979	-	Active	NO
2	U65993KA1968PLC001768	HEMAKUTA INDUSTRIES INVESTMENT COMPANY LIMITED.	Director	28/02/1986	28/02/1986	-	Active	NO
3	U17110MH1910PLC000316	BEHARILAL RAMCHARAN COTTON MILLS LTD	Director	24/12/1986	24/12/1986	31/07/2010	Active	NO
4	U34300RJ1982PLC002434	RAJASTHAN XLO SANWA MIDLAND LIMITED	Director	02/03/1994	02/03/1994	-	Active	NO
5	U67120MH1996PLC097779	CANDY HOLDINGS LIMITED	Director	29/02/1996	29/02/1996	-	Active	YES
6	U41000DL1996PLC081141	CANDY FILTERS (DELHI) LIMITED	Director	13/08/1996	13/08/1996	-	Active	NO
7	U29197MH1997PLC105309	CANDY FILTERS (BOMBAY) LIMITED	Director	21/01/1997	21/01/1997	-	Active	NO
8	U25199DL2001PTC111312	ARCHIT PLASTIC PRIVATE LIMITED	Director	11/01/2002	11/01/2002	-	Active	NO
9	U45200MH1994PLC078774	RIGVEDA PROPERTIES LTD	Director	11/05/2002	11/05/2002	-	Active	NO
10	U67120MH1995PTC088818	AQUASTEL WATER PURIFICATION SYSTEMS PRIVATE LIMITED	Director	11/05/2002	11/05/2002	-	Active	NO
11	U15424KA1993PLC014860	HEMAKUTA SUGAR & ALLIED INDUSTRIES LIMITED	Director	07/12/2002	07/12/2002	-	Active	NO
12	U51900MH1966PLC013539	AMALGAMATED COMMERCIAL TRADERS LIMITED	Director	20/10/2003	20/10/2003	-	Active	NO
13	U51909MH2004PTC146195	PRANAMI TRADING PRIVATE LIMITED	Director	08/07/2004	08/07/2004	-	Active	NO
14	U27100MH1986PLC040723	DURALLOY CUTTERS LIMITED	Director	28/03/2005	28/03/2005	-	Active	NO
15	U29220MH1983PLC029536	PARK TOOLS LIMITED	Director	28/03/2005	28/03/2005	-	Active	NO
16	U29220MH1984PLC034101	BELL TOOLS LTD	Director	28/03/2005	28/03/2005	-	Active	NO
17	U51909MH2003PLC140398	REALSTONE EXPORTS LIMITED	Director	26/04/2006	26/04/2006	-	Active	NO
18	U32109MH1973PTC016792	ALCON ELECTRONICS PRIVATE LIMITED	Director	01/09/2006	01/09/2006	-	Active	NO
19	U31909MH2004PTC148945	ALCAP ELECTRONICS PRIVATE LIMITED	Director	01/09/2006	01/09/2006	-	Active	NO
20	U51909MH2004PLC146061	UTKANTHA TRADING AND PROPERTIES LIMITED	Director	15/08/2007	15/08/2007	-	Active	NO
21	U52110DL1963PLC003965	P S JAIN CO. LIMITED.	Additional director	01/01/2008	01/01/2008	-	Active	NO
22	U50103PB1953PLC001784	P S JAIN MOTOR CO PUNJAB LTD	Additional director	01/01/2008	01/01/2008	-	Active	NO
23	U51909MH2008PTC182295	SIDDHPAD TRADING PRIVATE LIMITED	Director	02/07/2008	02/07/2008	-	Active	NO
24	U51109MH2008PTC178620	CITYBASE MULTITRADE PRIVATE LIMITED	Director	02/07/2008	02/07/2008	-	Active	NO
25	U93000MH2009PLC195109	SWIFT IT INFRASTRUCTURE & SERVICES LIMITED	Director	20/08/2009	20/08/2009	31/03/2010	Active	NO
26	U93000MH2009PTC195220	MINTAGE SOLUTIONS PRIVATE LIMITED	Director	25/08/2009	25/08/2009	31/03/2010	Active	NO
27	U72200DL1996PTC079563	INTERACTIVE WORLD PRIVATE LIMITED	Director	30/09/2010	30/09/2010	-	Active	NO
28	U52399MH2011PTC218095	AASSEM MULTITRADE PRIVATE LIMITED	Director	31/05/2011	31/05/2011	-	Active	NO

Name :

Mr. Sudhir Hari Unde

Designation :

Director

Address :

7/8 Blue Hill Gulmohar Colony, Pipe Line Road, Satpur, Nashik-422007, Maharashtra, India

Date of Birth/Age :

30.10.1952

Date of Appointment :

01.09.2006

Qualification :

Bcom.

DIN No.:

02131653

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	U32109MH1973PTC016792	ALCON ELECTRONICS PRIVATE LIMITED	Director	01/09/2006	01/09/2006	-	Active	NO
2	U31909MH2004PTC148945	ALCAP ELECTRONICS PRIVATE LIMITED	Director	01/05/2008	01/05/2008	-	Active	NO

Name :

Mr. Anup Rattan Sachdev

Designation :

Director

Address :

Santosh 54-55-56/B, Gangapur Housing Colony, College Road, Nashik – 422005, Maharashtra, India

Date of Birth/Age :

06.03.1950

Date of Appointment :

11.12.1975

Qualification :

Bsc. (chemestry) and MBA

DIN No.:

02131678

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	U32109MH1973PTC016792	ALCON ELECTRONICS PRIVATE LIMITED	Director	11/12/1975	11/12/1975	-	Active	NO
2	U31909MH2004PTC148945	ALCAP ELECTRONICS PRIVATE LIMITED	Director	04/10/2004	04/10/2004	-	Active	NO

Name :

Mr. Anupratan Romeshchand Sachdev

Designation :

Director

Address :

Santosh 54-55-56/B, D’ Souza Gangapur Housing Colony, College Road, Nashik – 422005, Maharashtra, India

Date of Birth/Age :

06.03.1950

Date of Appointment :

11.12.1975

Qualification :

02131678

DIN No.:

Other Directorship:

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 28.08.2014

Names of Shareholders	No. of Shares
Anup Rattan Sachdev	2572000
Ranjana Anup Rattan Sachdev	982000
Ranjana Anup Rattan Sacdev joint with Siddharth Sachdev	5000
Ranjana Anup Rattan Sachdev Joint with Radha Sachdev	5000
Siddharth Anup Rattan Sachdev	295000
Siddharth Anup Rattan Sachdev	7900
Deepika Mandkumar Joshi	452000
Radha Sachdev	112000
JAyasukhbhai Parikh	8000
Sushil Ratanlal Morarka	180000
Black Gold Caplease Private Limited, India	400000
Sudhir HAri Unde	3250
Milind Vijakumar JAgtap	3250
Rajesh Dattarey Bhope	3250
Prasanna Shripad Godbole	3250
Anup Rattan Sachdev jointly with Radha Sachdev	2000
Radha Sachdev joint with Ranjana Anup Rattan Sachdev	1000
Anup Rattan Sachdev Joint with Ranjana Anup Ratan Sachdev	2900
RAnjana Anup Rattan Sachdev joint with Anup Sachdev	1400
Total	5039200

As on 28.08.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of High CV Aluminum Electrolytic Capacitors

Products :

Product Description	Item Code No. (ITC Code)
Electrolytic Capacitors	85322200
Film Foil Capacitors	85322500

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Not Divulged

PRODUCTION STATUS = NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

Not Divulged

Bankers :

• Bank of Maharashtra, SSI Satpur Branch, 44/13, D Road, MIDC, Satpur, Nashik - 422007, Maharashtra, India

• Small Industries Development Bank of India, First Floor, Pingle Complex, Opposite Kulkarni Garden, Sharanpur Road, Nashik - 422002, Maharashtra, India

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Term loan from Banks	15.146	22.849
SHORT TERM BORROWING
Loans repayable on demand from banks	91.331	92.916
Total	106.477	115.765

Auditors :
Name :	S. M. DAGA Chartered Accountants
Address :	1st Floor, Yashwant Mandai, Raviwar Karanja, Nashik – 422001, Maharashtra, India
PAN No.:	ABLPD8053E
Memberships :	Not Available
Collaborators :	Not Available
Associates/Subsidiaries :	Not Available

CAPITAL STRUCTURE

As on 28.08.2014

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
5,039,200	Equity Shares	Rs.10/- each	Rs. 50.392 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
(a) Share Capital	50.392	50.322	50.262
(b) Reserves & Surplus	103.072	77.104	59.464
(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)	153.464	127.426	109.726
(3) Non-Current Liabilities
(a) long-term borrowings	21.639	30.442	19.475
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(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)	21.639	30.442	19.475
(4) Current Liabilities
(a) Short term borrowings	91.331	92.916	88.356
(b) Trade payables	46.327	26.782	31.541
(c) Other current liabilities	24.142	25.798	28.242
(d) Short-term provisions	2.920	2.137	1.934
Total Current Liabilities (4)	164.720	147.633	150.073
TOTAL	339.823	305.501	279.274
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	108.875	123.712	92.231
(ii) Intangible Assets	0.139	0.161	0.082
(iii) Capital work-in-progress	25.372	4.536	1.487
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	1.250	1.250	1.250
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	3.115	1.144	2.939
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	138.751	130.803	97.989
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	90.498	73.831	89.263
(c) Trade receivables	97.870	85.640	72.715
(d) Cash and cash equivalents	6.140	9.878	11.222
(e) Short-term loans and advances	5.969	4.804	7.646
(f) Other current assets	0.595	0.545	0.439
Total Current Assets	201.072	174.698	181.285
TOTAL	339.823	305.501	279.274

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	TOTAL INCOME	374.767	323.228	352.155
Less	EXPENSES
	TOTAL	NA	NA	NA
	PROFIT/ (LOSS) BEFORE TAX	39.195	23.822	NA
Less	TAX	(1.772)	1.518	NA
	PROFIT/ (LOSS) AFTER TAX	40.967	22.304	20.000
	Earnings / (Loss) Per Share (Rs.)	8.13	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/ Total Income)	(%)	10.93	6.90	5.68
Return on Total Assets (PBT/Total Assets}	(%)	12.51	7.95	NA
Return on Investment (ROI) (PBT/Networth)		0.26	0.19	NA
Debt Equity Ratio (Total Debt /Networth)		0.74	0.97	0.98
Current Ratio (Current Asset/Current Liability)		1.22	1.18	1.21

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	50.262	50.322	50.392
Reserves & Surplus	59.464	77.104	103.072
Net worth	109.726	127.426	153.464
long-term borrowings	19.475	30.442	21.639
Short term borrowings	88.356	92.916	91.331
Total borrowings	107.831	123.358	112.970
Debt/Equity ratio	0.983	0.968	0.736

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)
Total Income	352.155	323.228	374.767
		(8.214)	15.945

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Total Income	352.155	323.228	374.767
Profit	20.000	22.304	40.967
	5.68%	6.90%	10.93%

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	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	----------------------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	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	----------------------
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

Financial Performance

Total net income for the year increased to Rs. 374.767 Million which is an increase of 16.5% over the previous year. Net profit before tax for the current year has also increased to Rs. 39.195 Million which works out to about 10% of sales. Please note that the companies General Reserves has registered a substantial increase of about 34% and is now Rs. 103.071 which works out to be more than 66% of the Shareholders funds.

In the current financial year there are uncertainties because of the poor rainfall in many parts of the country. The expansion programme which had been undertaken by the company is now nearing completion. During the current financial year more efforts on exports will be essential to ensure that the company continues to grow. Two new products have now been introduced. These would enable the company to diversify its customer base in India and abroad.

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Rupee term loan from others	6.493	7.593
Total	6.493	7.593

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10231467	07/07/2010	12,000,000.00	SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA	FIRST FLOOR, PINGLE COMPLEX, OPP. KULKARNI GARDEN, SHARANPUR ROAD, NASHIK, Maharashtra - 422002, INDIA	A90159351
2	10172938	17/07/2009	3,550,000.00	SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA	FIRST FLOOR, PINGLE COMPLEX, OPP. KULKARNI GARDEN, SHARANPUR ROAD, NASHIK, Maharashtra - 422002, INDIA	A68133198
3	10140757	23/01/2009	2,500,000.00	BANK OF MAHARASHTRA	SSI BRANCH SATPUR, PLOT NO. 44/13, MIDC, SATPUR,  NASHIK, Maharashtra - 422007, INDIA	A55915862
4	10106145	24/01/2008 *	10,000,000.00	BANK OF MAHARASHTRA	SATPUR BRANCH, MIDC AREA, SATPUR, NASHIK, Maharashtra - 422007, INDIA	A40133308
5	10045979	15/03/2007	1,000,000.00	BANK OF MAHARASHTRA	SATPUR BRANCH, MIDC AREA, SATPUR, NASHIK, Maharashtra - 422007, INDIA	A13749114
6	10045968	27/02/2007	400,000.00	BANK OF MAHARASHTRA	SATPUR BRANCH, MIDC AREA, SATPUR, NASHIK, Maharashtra - 422007, INDIA	A13748413
7	90166682	28/09/2000	2,500,000.00	BANK OF MAHARASTHRA	S.S.I. BRANCH, SATPUT, NASIK, Maharashtra - 422007, INDIA	-
8	90166662	10/10/2012 *	245,700,000.00	BANK OF MAHARASHTRA	SSI SATPUR BRANCH, PLOT NO. 44/13, MIDC, SATPUR,  NASHIK, Maharashtra - 422005, INDIA	B64426562
9	90164017	14/03/2001 *	10,000,000.00	BANK OF MAHARASTHRA	SATPUR BRANCH, NASIK, Maharashtra - 422007, INDIA	-
10	90163171	20/04/2000 *	7,500,000.00	BANK OF MAHARASTHRA	SATPUR BRANCH, NASIK, Maharashtra - 422007, INDIA	-

* Date of charge modification

FIXED ASSETS

• Leasehold Land
• Factory Building
• Plant and Machinery
• Mould
• Computers
• Electrical Installations
• Furniture and Fixtures
• Motor Cars
• Office 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 records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

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

3] Asset Declaration :

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

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] 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.63.40
UK Pound	1	Rs.95.42
Euro	1	Rs.68.48

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	SUM
Report Prepared by :	ART

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	4
--CREDIT LINES	1~10	5
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		46

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.