MIRA INFORM REPORT

Report No. :	335451
Report Date :	05.08.2015

IDENTIFICATION DETAILS

Name :	GUJARAT SIDHEE CEMENT LIMITED

Registered Office :	“Sidheegram”, Off Veraval-Kodinar Highway, District Junagadh – 362276, Gujarat
Tel. No.:	91-2876-268200/ 308200/ 286530-34

Country :	India

Financials (as on) :	31.03.2015

Date of Incorporation :	29.03.1973

Com. Reg. No.:	04-002245

Capital Investment / Paid-up Capital :	Rs.712.069 Million

CIN No.: [Company Identification No.]	L26940GJ1973PLC002245

TAN No.: [Tax Deduction & Collection Account No.]	Not Available

PAN No.: [Permanent Account No.]	Not Available

Legal Form :	Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.

Line of Business :	Subject is engaged in the business of manufacturing and selling of cement and clinker.

No. of Employees :	Information declined by the management.

RATING & COMMENTS

MIRA’s Rating :

B (32)

RATING

STATUS

PROPOSED CREDIT LINE

26-40

Capability to overcome financial difficulties seems comparatively below average.

Small

Status :	Moderate

Payment Behaviour :	Slow but correct

Litigation :	Exist

Comments :	Subject is an established company having moderate track record. The company possesses moderate operational performance and it has incurred huge losses from its operational activities. Rating further constrained on account of company’s moderate operational risk profile and unfavourable gap between trade payables to its receivables. However, trade relations are reported as fair. Payment terms are reported to be slow but correct. In view of operational base, the company can be considered for business dealing with some cautions.

NOTES :

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

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 31-03-2013.

INFORMATION DECLINED BY

Name :	Mr. V R Mahonot
Designation :	Chief Financial Officer
Contact No.:	91-22-66365490
Date :	03.08.2015

LOCATIONS

Registered Office/ Factory :	“Sidheegram”, Off Veraval-Kodinar Highway, District Junagadh – 362 276, Gujarat, India
Tel. No.:	91-2876-268200/ 308200/ 286530-34
Mobile No.:	91-9408707836 (Mr. A.R. Joshi)
Fax No.:	91-2876-286540
E-Mail :	sidhee-mum@mehtagroup.com customercare@mehtagroup.com
Website :	www.mehtagroup.com http://www.hathi-sidheecements.com

Corporate Office :	N. K. Mehta International House, 2^nd Floor, 178, Backbay Reclamation, Mumbai – 400 020, Maharashtra, India
Tel. No.:	91-22-66365444

Marketing Office 1 :	801-802, 'Prasham', Near Dharam Cinema, Kasturba Road, Rajkot – 360 001, Gujarat, India
Tel. No.:	91-281-2458048/ 2453811
Fax No.:	91-281-2454584

Marketing Office :	Also located at: · Mumbai · Ahmedabad · Junagadh · Bhavnagar · Vadodara · Surat

DIRECTORS

AS ON 31.05.2015

Name :	Mr. M. N. Mehta
Designation :	Chairman

Name :	Mr. Jay M. Mehta
Designation :	Executive Vice Chairman

Name :	Mr. Sanat M. Mehta
Designation :	Nominee of The Mehta International Limited

Name :	Mr. A. B. Shah
Designation :	Nominee of GIIC Limited

Name :	Mr. M. S. Gilotra
Designation :	Managing Director

Name :	Mr. S. V. S. Raghavan
Designation :	Director

Name :	Mr. P. K. Behl
Designation :	Director

Name :	Mr. M. L. Tandon
Designation :	Director

Name :	Mr. Bimal Thakkar
Designation :	Director

Name :	Mr. Hemnabh Khatau
Designation :	Director

Name :	Dr. (Ms.) Kala S. Pant
Designation :	Director

Name :	Mr. Venkatesh Mysore
Designation :	Director

Name :	Ms. Juhi Chawla
Designation :	Director

Name :	Mr. M. N. Rao
Designation :	Director

Name :	Mr. K. N. Bhandari
Designation :	Director

Name :	Mrs. Bhagyam Ramani
Designation :	Director

KEY EXECUTIVES

Name :	Mrs. Anupama Pai
Designation :	Vice President (Legal) & Company Secretary

Name :	Mr. V R Mahonot
Designation :	Chief Financial Officer

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.06.2015

Category of Shareholder	Total No. of Shares	Total Shareholding as a % of Total No. of Shares

(A) Shareholding of Promoter and Promoter Group
(1) Indian
Individuals / Hindu Undivided Family	1160475	1.75
Central Government / State Government(s)	8252697	12.48
Bodies Corporate	31547041	47.69
Sub Total	40960213	61.92
(2) Foreign
Bodies Corporate	1078750	1.63
Sub Total	1078750	1.63
Total shareholding of Promoter and Promoter Group (A)	42038963	63.55

(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	31256	0.05
Financial Institutions / Banks	764177	1.16
Foreign Institutional Investors	23175	0.04
Any Others (Specify)	0	0.00
Sub Total	818608	1.24
(2) Non-Institutions
Bodies Corporate	3096991	4.68
Individuals
Individual shareholders holding nominal share capital up to Rs. 0.100 Million	13663037	20.65
Individual shareholders holding nominal share capital in excess of Rs. 0.100 Million	5588861	8.45
Any Others (Specify)	947392	1.43
Clearing Members	371631	0.56
Non Resident Indians	565658	0.86
Trusts	375	0.00
Overseas Corporate Bodies	8550	0.01
Others	1178	0.00
Sub Total	23296281	35.22
Total Public shareholding (B)	24114889	36.45

Total (A)+(B)	66153852	100.00

(C) Shares held by Custodians and against which Depository Receipts have been issued
(1) Promoter and Promoter Group	0	0.00
(2) Public	0	0.00
Sub Total	0	0.00

Total (A)+(B)+(C)	66153852	100.00

SHAREHOLDING OF SECURITIES (INCLUDING SHARES, WARRANTS, CONVERTIBLE SECURITIES) OF PERSONS BELONGING TO THE CATEGORY PROMOTER AND PROMOTER GROUP

Name of the Shareholder	Details of Shares held		*Encumbered shares ()**			Total shares (including underlying shares assuming full conversion of warrants and convertible securities) as a % of diluted share capital
Name of the Shareholder	No. of Shares held	As a % of grand total (A)+(B)+(C)	No	As a percentage	As a % of grand total (A)+(B)+(C) of sub-clause (I)(a)
Sumraj Holding Private Limited	1,01,779	0.15	0	0.00	0.00	0.15
Sumraj Holding Private Limited	3,53,850	0.53	0	0.00	0.00	0.53
Sunnidhi Trading Private Limited	1,000	0.00	0	0.00	0.00	0.00
Ria Holdings Limited	7,42,500	1.12	325000	43.77	0.49	1.12
Prachit Holdings Limited	7,42,500	1.12	325000	43.77	0.49	1.12
Pranay Holdings Limited	7,40,000	1.12	325000	43.92	0.49	1.12
Sameta Exports Private Limited	275	0.00	0	0.00	0.00	0.00
Sameta Exports Private Limited	475	0.00	0	0.00	0.00	0.00
Shree Anandeya Investments Pvt Ltd	2,500	0.00	2500	100.00	0.00	0.00
Reeti Investments Limited	60,912	0.09	60912	100.00	0.09	0.09
Gujarat Industrial Investments Corporation Limited	82,52,697	12.48	0	0.00	0.00	12.48
J Chawla Mehta	11,52,600	1.74	0	0.00	0.00	1.74
Pallor Trading Company Private Limited	1,250	0.00	0	0.00	0.00	0.00
Treasurers Trading Limited	1,01,750	0.15	0	0.00	0.00	0.15
The Arj Investment Limited	9,77,000	1.48	0	0.00	0.00	1.48
Bhadra Consultancy Private Limited	2,88,00,000	43.53	0	0.00	0.00	43.53
Promilla Subhashchandra Khanna	1,925	0.00	0	0.00	0.00	0.00
Atul C Khanna	5,950	0.01	0	0.00	0.00	0.01
Total	4,20,38,963	63.55	1038412	2.47	1.57	63.55

SHAREHOLDING OF SECURITIES (INCLUDING SHARES, WARRANTS, CONVERTIBLE SECURITIES) OF PERSONS BELONGING TO THE CATEGORY PUBLIC AND HOLDING MORE THAN 1% OF THE TOTAL NUMBER OF SHARES

Name Of The Shareholder	No. Of Shares Held	Shares As % Of Total No. Of Shares
Name Of The Shareholder	No. Of Shares Held	Shares As % Of Total No. Of Shares
State Bank of India Stressed Assets Management	723077	1.09
B Subraya Baliga	676489	1.02
TOTAL	1399566	2.12

BUSINESS DETAILS

Line of Business :

Subject is engaged in the business of manufacturing and selling of cement and clinker.

Products :

ITC Code No.

Product Description

25232901

Ordinary Portland Cement

25231000

Clinker

Brand Names :

“SIDHEE”

Agencies Held :

Not Divulged

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Not Divulged

PRODUCTION STATUS : NOT AVAILABLE

GENERAL INFORMATION

Supplier :

Not Divulged

Customers :

Patel Infrastructure Limited
Simplex Infrastructure Limited
AFCONS Infrastructure Limited
Gammon India Limited
Sarjan Construction Company
Adani Port Nirma Limited
Backone Enterprises Limited
Limak Soma JV Utilities
IVRCL
Sardar Sarovar Project
UP State Bridge Corporation Limited
Sadbhav Engineers Limited
Reliance Industries Limited
Essar Oil Limited
Gujarat Heavy Chemicals Limited
IFFCO Limited
Nirma Limited
Indian Rayon

No. of Employees :

Information declined by the management.

Bankers :

State Bank of India
State Bank of Bikaner and Jaipur
Union Bank of India
HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400 013, Maharashtra, India
Yes Bank Limited

Facilities :

Secured Loans	31.03.2015 (Rs. in Million)	31.03.2014 (Rs. in Million)
LONG-TERM BORROWINGS
Term loans
- From Banks	NA	0.518
- From Other Parties	NA	5.475
SHORT-TERM BORROWINGS
Loans repayable on demand
- From Banks	NA	193.158
Total	NA	199.151

Notes:

LONG-TERM BORROWINGS

Term loans from HDFC Bank Limited, Yes Bank Limited and NBFCs in respect of finance availed for purchase of vehicles are secured by hypothecation of vehicles financed by them. The Loans are repayable in monthly equated instalments over 3 to 5 years.

SHORT-TERM BORROWINGS

The overdraft from bank is secured against pledge of FDRs of Rs. 321.208 Million (previous year Rs.322.771 million) and repayable on demand.


Auditors :
Name :	Manubhai and Company Chartered Accountant
Address :	Ahmedabad, Gujarat, India

Promoter companies together with its subsidiaries and associate companies holding more than 20% of the Equity Capital [AS ON 31.03.2014] :	Ria Holdings Limited* Pranay Holdings Limited * Reeti Investments Limited * Prachit Holdings Limited * Sumaraj Holdings Private Limited Sunnidhi Trading Private Limited Shree Anandeya Investment Private Limited Sameta Export Private Limited Pallor Trading Company Private Limited The Arj Investments Limited Treasurer's Trading Limited Gujarat Industrial Investment Corporation Limited Industrial Construction Limited (holding company of Sr. No. 9) Samja Maurtius Limited (holding company of Sr. No. 10) Bhadra Consultancy Private Limited *10,35,912 shares held as security by a bank in bank's name for financial assistance granted.

Subsidiary Company [AS ON 31.03.2014]:	Villa Trading Company Private Limited

Name of a company in which policies are controlled by common key management personnel [AS ON 31.03.2014]:	Saurashtra Cement Limited

CAPITAL STRUCTURE

AS ON 31.03.2015

Authorised Capital: Not Available

Paid-up Capital: Rs.7120.690 Million

AS ON 31.03.2014

Authorised Capital:

No. of Shares	Type	Value	Amount
500000000	Equity Shares	Rs.10/- each	Rs.5000.000 Million

Issued Capital:

No. of Shares	Type	Value	Amount
144816075	Equity Shares	Rs.10/- each	Rs.1448.161 Million

Subscribed Capital:

No. of Shares	Type	Value	Amount
36203932	Equity Shares	Rs.10/- each	Rs.362.039 Million

Paid-up Capital:

No. of Shares	Type	Value	Amount
36153852	Equity Shares	Rs.10/- each	Rs.361.539 Million
Add:	Forfeited Shares		Rs.0.530 Million
	Total		Rs.362.069 Million

Notes:

Rights, preferences and restrictions:

(i) The Company has only one class of equity shares referred to as Equity shares having a par value of Rs.10. Each holder of equity share is entitled to one vote per share.

(ii) Dividends, if any, is declared and paid in Indian Rupees. The dividend, if any, proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

(iii) In the event of liquidation of the company, the holders of equity shares will be entitled to receive any of the remaining assets of the company, after distribution of all preferential amounts. However, no such preferential amounts exist currently. The distribution will be in proportion to the number of equity shares held by the shareholders.

Details of shares in the company held by each shareholder holding more than 5 percent shares:

S. No.

Name of the Shareholder

No. of shares

% of shareholding

The Arj Investment Limited

4557379

12.61

Gujarat Industrial Investment Corporation Limited

2063174

5.71

Reconciliation of Paid up Share Capital:

Particulars	Amount (Rs. in million)
Opening Balance	1446.154
Less : Reduction in Share Capital in terms of BIFR's order*	1084.615
Closing Balance	361.539

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2015	31.03.2014	31.03.2013
I. EQUITY AND LIABILITIES
(1) Shareholders' Funds
(a) Share Capital	712.069	362.069	362.069
(b) Reserves & Surplus	983.556	1028.443	1055.681
(c) Money received against share warrants	0.000	0.000	0.000

(2) Share Application money pending allotment	0.000	50.000	0.000
Total Shareholders’ Funds (1) + (2)	1695.625	1440.512	1417.750

(3) Non-Current Liabilities
(a) Long-term borrowings	1.242	5.993	12.840
(b) Deferred tax liabilities (Net)	46.758	69.890	38.578
(c) Other long term liabilities	53.895	50.381	49.915
(d) Long-term provisions	245.316	202.322	198.675
Total Non-current Liabilities (3)	347.211	328.586	300.008

(4) Current Liabilities
(a) Short term borrowings	189.431	193.158	2.500
(b) Trade payables	721.051	734.198	720.845
(c) Other current liabilities	312.045	271.196	262.200
(d) Short-term provisions	15.345	14.039	90.057
Total Current Liabilities (4)	1237.872	1212.591	1075.602

TOTAL	3280.708	2981.689	2793.360

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	988.783	1201.054	786.654
(ii) Intangible Assets	8.301	4.974	3.434
(iii) Capital work-in-progress	35.425	25.538	105.361
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	603.667	78.288	0.010
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	233.231	266.211	255.882
(e) Other Non-current assets	15.170	59.855	30.965
Total Non-Current Assets	1884.577	1635.920	1182.306

(2) Current assets
(a) Current investments	0.006	0.006	0.006
(b) Inventories	622.177	579.773	665.080
(c) Trade receivables	165.988	167.248	161.117
(d) Cash and cash equivalents	486.650	409.418	587.685
(e) Short-term loans and advances	99.360	173.927	170.018
(f) Other current assets	21.950	15.397	27.148
Total Current Assets	1396.131	1345.769	1611.054

TOTAL	3280.708	2981.689	2793.360

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2015	31.03.2014	31.03.2013
	SALES
		Revenue from Operations	4840.340	4097.492	4457.112
		Other Income	77.523	81.700	75.723
		TOTAL (A)	4917.863	4179.192	4532.835

Less	EXPENSES
		Cost of material consumed	687.300	507.449	532.724
		Changes in inventories of finished goods work-in progress and stock-in-trade	(42.151)	53.778	(19.029)
		Employee benefits expenses	300.877	268.076	229.199
		Other expenses	471.545	3239.233	3214.756
		Store and repairs	417.713	0.000	0.000
		Power and fuel	2118.577	0.000	0.000
		Freight expenses	814.745	0.000	0.000
		Exceptional items	65.567	0.000	(85.733)
		TOTAL (B)	4834.173	4068.536	3871.917

	PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		83.690	110.656	660.918

Less	FINANCIAL EXPENSES (D)		36.888	29.953	17.164

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		46.802	80.703	643.754

Less/ Add	DEPRECIATION/ AMORTISATION (F)		114.821	76.629	65.276

	PROFIT / (LOSS) BEFORE TAX (E-F) (G)		(68.019)	4.074	578.478

Less	TAX (H)		(23.132)	31.312	175.362

	PROFIT / (LOSS) AFTER TAX (G-H) (I)		(44.887)	(27.238)	403.116

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		333.580	360.820	(392.450)

Add	Adjustment against Share Capital		--	--	392.450

Less	APPROPRIATIONS
		Proposed Dividend	---	---	36.150
		Tax on Proposed Dividend	--	--	6.150
	BALANCE CARRIED TO THE B/S		288.690	333.580	360.820

	EARNINGS IN FOREIGN CURRENCY
		Export of goods calculated on F.O.B. basis	NA	6.783	14.653
	TOTAL EARNINGS		NA	6.783	14.653

	IMPORTS
		Components and spare parts	NA	45.003	41.189
		Capital Goods	NA	96.357	13.151
	TOTAL IMPORTS		NA	141.360	54.340

	Earnings / (Loss) Per Share (Rs.)		(1.05)	(0.75)	11.15

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2015	31.03.2014	31.03.2013
Current Maturities of Long term debt
(i) Financial Institutions	NA	-	1.159
(ii) Banks	NA	2.785	7.367
(iii) Others	NA	4.749	6.395
Cash generated from operations	NA	146.555	572.020
Net Cash Flow From Operating Activities	NA	87.015	491.849

KEY RATIOS

PARTICULARS		31.03.2015	31.03.2014	31.03.2013
Net Profit Margin (PAT / Sales)	(%)	(0.93)	(0.66)	9.04

Operating Profit Margin (PBIDT/Sales)	(%)	1.73	2.70	14.83

Return on Total Assets (PBT/Total Assets}	(%)	(2.57)	0.14	21.52

Return on Investment (ROI) (PBT/Networth)		(0.04)	0.00	0.41

Debt Equity Ratio (Total Debt/Networth)		0.11	0.14	0.01

Current Ratio (Current Asset/Current Liability)		1.13	1.11	1.50

STOCK PRICES

Face Value	Rs.10.00/-
Market Value	Rs.30.20/-

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	362.069	362.069	712.069
Reserves & Surplus	1055.681	1028.443	983.556
Share Application money pending allotment	0.000	50.000	0.000
Net worth	1417.750	1440.512	1695.625

long-term borrowings	12.840	5.993	1.242
Short term borrowings	2.500	193.158	189.431
Total borrowings	15.340	199.151	190.673
Debt/Equity ratio	0.011	0.138	0.112

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	4457.112	4097.492	4840.340
		(8.068)	18.129

NET PROFIT MARGIN

Net Profit Margin	31.03.2013	31.03.2014	31.03.2015
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	4457.112	4097.492	4840.340
Profit/Loss	403.116	(27.238)	(44.887)
	9.04%	(0.66%)	(0.93%)

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	---
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	No
10	Date of Birth of Proprietor / Partners / Directors	No
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	Yes
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	Yes
33	Market information	---
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

LITIGATION DETAILS:

HIGH COURT OF GUJARAT

TAX APPEAL No. 128 of 2012

Status : PENDING

CCIN No : 001092201200128

Last Listing Date:

16/04/2013

Coram

HONOURABLE MR.JUSTICE AKIL KURESHI

HONOURABLE MS JUSTICE SONIA GOKANI

S.NO.	Name of the Petitioner	Advocate On Record
1	COMMISSIONER OF INCOME TAX-III	MR PRANAV G DESAI for: Appellant(s) 1

S.NO.	Name of the Respondant	Advocate On Record
1	GUJARAT SIDHEE CEMENT LTD	NOTICE SERVED for :Opponent(s) 1 RULE NOT RECD BACK for :Opponent(s) 1


Presented On	: 17/02/2012	Registered On	: 22/02/2012
Bench Category	: DIVISION BENCH	District	: RAJKOT
Case Originated From	: THROUGH HIS/HER/THEIR ADVOCATE	Listed	: 5 times
Stage Name	: FOR FINAL HEARING

Classification	DB - OJ - TAX APPEAL - INCOME TAX ACT, 1961 - APPEAL TO HIGH COURT - U/S 260 OF IT ACT - LONG TERM CAPITAL GAIN - U/S 54EA
Act	INCOME-TAX ACT, 1961

Other Forums

S.No.	CASEDETAILS	TRIBUNAL REFERRENCE	ORDER PASSED BY	JUDGEMENT DATE	PLACE
1	ITA 1156/RJT/2010	INCOME TAX APPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT	JUDICIAL MEMBER & ACCOUNTANT MEMBER	30/09/2011	RAJKOT

Office Details

S. No.	Filing Date	Document Name	Advocate Name	Court Fee on Document	Document Details
1	17/02/2012	CERTIFIED COPY	MR PRANAV G DESAI ADVOCATE for PETITIONER(s) 1	8	MR PRANAV G DESAI:1
2	17/02/2012	MEMO OF PETITION/APPEAL/SUIT	MR PRANAV G DESAI ADVOCATE for PETITIONER(s) 1	20	MR PRANAV G DESAI:1

Court Proceedings

S. No.	Notified Date	CourtCode	Board Sr. No.	Stage	Action	Coram
1	26/11/2012	9	14	ADJOURNED MATTERS	DISMISSED @ ADM.STAGE	HONOURABLE MR.JUSTICE AKIL KURESHI HONOURABLE MS JUSTICE SONIA GOKANI
2	04/04/2013	7	46	ADJOURNED MATTERS	NEXT DATE	HONOURABLE MR.JUSTICE AKIL KURESHI HONOURABLE MS JUSTICE SONIA GOKANI
3	09/04/2013	7	27	ADJOURNED MATTERS	NEXT DATE	HONOURABLE MR.JUSTICE AKIL KURESHI HONOURABLE MS JUSTICE SONIA GOKANI
4	16/04/2013	7	32	ADJOURNED MATTERS	RULE/ADMIT	HONOURABLE MR.JUSTICE AKIL KURESHI HONOURABLE MS JUSTICE SONIA GOKANI

Available Orders

S. No.

Case Details

Judge Name

Order Date

CAV

Judgement

Questions

Transferred

TAX APPEAL/128/2012

HONOURABLE MR.JUSTICE AKIL KURESHI

HONOURABLE MS JUSTICE SONIA GOKANI

26/11/2012

ORDER

TAX APPEAL/128/2012

HONOURABLE MR.JUSTICE AKIL KURESHI

HONOURABLE MS JUSTICE SONIA GOKANI

16/04/2013

ORDER

Certified Copy

S. No.	ApplicantName	ApplicationType	Application Date	UOL Number	Order Date	Notify Date	Delivery Date	Status	Nature Of Document
1	MR PRANAV G DESAI	ORDINARY	30/11/2012	O/39315/2012	26/11/2012	01/12/2012	03/12/2012	Delivered	ORDER

INDEX OF CHARGES:

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10340668	29/02/2012	68,600,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W , MUMBAI, MAHARASHTRA - 400013, INDIA	B34364125
2	10329316	09/01/2012	3,260,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W , MUMBAI, MAHARASHTRA - 400013, INDIA	B29739240
3	80046655	15/09/1989 *	1,400,000.00	THE NEW INDIA ASSURANCE COMPANY LIMITED	NEW INDIA ASSURANCE BUILDING, 87, M G ROAD, MUMBA I, MAHARASHTRA - 400023, INDIA	-
4	80046658	15/09/1989 *	1,400,000.00	UNITED INDIA INSURANCE COMPANY LIMITED	24, WHITES ROAD, CHANNAI, TAMIL NADU - 600014, IND IA	-
5	80047603	29/08/2008 *	1,000,000.00	THE ORIENTAL INSURANCE COMPANY LIMITED	ORIENTAL HOUSE, ASAF ALI ROAD,, P.B. NO. 7037, N EW DELHI, DELHI - 110002, INDIA	A45566288

* Date of charge modification

FIXED ASSETS:

Tangible Assets

· Land (Freehold)

· Land (Leasehold)

· Buildings

· Plant and Equipments

· Furniture and Fixtures

· Vehicles

· Computers

· Office Equipments

· Railway Sidings

Intangible Assets

· Computer Software including Licence Fees

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.63.93
UK Pound	1	Rs.99.82
Euro	1	Rs.70.04

INFORMATION DETAILS

Information Gathered by :	PPT

Analysis Done by :	KAR

Report Prepared by :	SNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	-
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--CREDIT LINES	1~10	4
--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	YES
--LISTED	YES/NO	YES
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		32

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.

MIRA INFORM REPORT

Stake Holders

Unit