MIRA INFORM REPORT

Report No. :	337782
Report Date :	22.08.2015

IDENTIFICATION DETAILS

Name :	SUPREME INFRASTRUCTURE INDIA LIMITED

Registered Office :	Supreme House, Plot No. 94/C Pratap Gad, Opposite I. I.T Main Gate, Powai, Mumbai – 400076, Maharashtra
Tel. No.:	91-22-61289700 / 25783241 / 25794216

Country :	India

Financials (as on) :	31.03.2015

Date of Incorporation :	08.04.1983

Com. Reg. No.:	11-029752

Capital Investment / Paid-up Capital :	Rs.281.984 Million

CIN No.: [Company Identification No.]	L74999MH1983PLC029752

IEC No.:	0306065240

TAN No.: [Tax Deduction & Collection Account No.]	MUMS52792F

PAN No.: [Permanent Account No.]	AAACS7320J

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

Line of Business :	Subject is engaged in construction and development of roads, highways, buildings, bridges, etc. The Company also owns and operates Ready Mix Concrete (“RMC”) plant, Asphalt plant and Crushing plant.

No. of Employees :	Information declined by the management.

RATING & COMMENTS

MIRA’s Rating :

Ba (42)

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

Maximum Credit Limit :	USD 22000000

Status :	Satisfactory

Payment Behaviour :	Slow

Litigation :	Exist

Comments :	Subject is an established company having satisfactory track record. For the financial year ended 2015, there appears a sharp dip in profitability of the company as compared to the previous year. However, rating takes into account of company’s good financial risk profile supported by adequate networth base and favourable gap between trade payables to its receivables. Trade relations are fair. Business is active. Payment terms are reported to be slow but 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 – March 31, 2015

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

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	India Ratings and Research
Rating	Long term bank facilities = BB
Rating Explanation	Inadequate credit quality and high credit risk.
Date	October 31, 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 31-03-2013.

INFORMATION DENIED

Management non-co-operative (91-22-61289700)

LOCATIONS

Registered Office :	Supreme House, Plot No. 94/C Pratap Gad, Opposite I. I.T Main Gate, Powai, Mumbai – 400076, Maharashtra, India
Tel. No.:	91-22-61289700 / 25783241 / 25794216
Fax No.:	91-22-61289711
E-Mail :	admin@supremeinfra.com cs@supremeinfra.com
Website :	www.supremeinfra.com

Regional Office :	901-905, 9th Floor, Millennium Tower, B Wing, Opposite IFFCO Chowk Metro Station, M G Road, Gurgaon - 122002, Haryana
Tel. No.:	91-124-7189700/ 4067000
Fax No.:	91-124-4221401
E-Mail :	frontdesk@supremeinfra.com

Sales Office :	Supreme Business Park, Sharma Cottage, Behind Lake Castle, Hiranandani Gardens, Powai, Mumbai – 400076, Maharashtra, India

DIRECTORS

As on 31.03.2014

Name :	Mr. B. H. Sharma
Designation :	Executive Chairman

Name :	Mr. Vikram Sharma
Designation :	Managing Director

Name :	Mr. Vikas Sharma
Designation :	Whole Time Director and Chief Financial Officer

Name :	Mr. V. P. Singh
Designation :	Independent Director

Name :	Mr. Vinod Agarwala
Designation :	Independent Director

Name :	Mr. Mukul Agrawal
Designation :	Independent Director

Name :	Mr. Pramod Kasat
Designation :	Independent Director

Name :	Mr. Dakshendra Agrawal
Designation :	Non-Executive Director

KEY EXECUTIVES

Name :	Mr. Vijay Joshi
Designation :	Company Secretary

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	9237357	35.95
Bodies Corporate	3350000	13.04
Sub Total	12587357	48.98
(2) Foreign
Total shareholding of Promoter and Promoter Group (A)	12587357	48.98
(B) Public Shareholding
(1) Institutions
Mutual Funds / UTI	1998440	7.78
Financial Institutions / Banks	10701	0.04
Foreign Institutional Investors	4025898	15.67
Sub Total	6035039	23.48
(2) Non-Institutions
Bodies Corporate	3850923	14.99
Individuals
Individual shareholders holding nominal share capital up to Rs.0.100 Million	1374700	5.35
Individual shareholders holding nominal share capital in excess of Rs.0.100 Million	804259	3.13
Any Others (Specify)	1046094	4.07
Clearing Members	251631	0.98
Non Resident Indians	794458	3.09
Others	5	0.00
Sub Total	7075976	27.53
Total Public shareholding (B)	13111015	51.02
Total (A)+(B)	25698372	100.00
(C) Shares held by Custodians and against which Depository Receipts have been issued	0	0.00
(1) Promoter and Promoter Group	0	0.00
(2) Public	0	0.00
Sub Total	0	0.00
Total (A)+(B)+(C)	25698372	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in construction and development of roads, highways, buildings, bridges, etc. The Company also owns and operates Ready Mix Concrete (“RMC”) plant, Asphalt plant and Crushing plant.

Products :	Not Available

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :	Not Divulged

Imports :	Not Divulged

Terms :
Selling :	Not Divulged

Purchasing :	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 :

Information declined by the management.

Bankers :

Banker Name	State Bank of India
Branch Address	Not Divulged
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

State Bank of Patiala
Union Bank of India
Punjab National Bank
Bank of India
Central Bank of India
Canara Bank
Syndicate Bank
ICICI Bank Limited
Axis Bank Limited
The Saraswat Co-operative Bank Limited

Facilities :

(Rs. In Million)

SECURED LOAN	As on 31.03.2015	As on 31.03.2014
LONG TERM BORROWING
External commercial borrowings	NA	167.678
Term loans From banks	NA	697.487
From financial institutions	NA	713.069
SHORT TERM BORROWING
Cash credit facilities from banks	NA	7550.986
Total	NA	9129.220

Financial Institution :	SREI Equipment Finance Limited

Auditors :
Name :	Walker Chandiok and Company LLP Chartered Accountants

Statutory Auditors :
Name :	Shah and Kathariya Chartered Accountants

Memberships :	Not Available

Collaborators :	Not Available

Subsidiaries (As on 31.03.2014) :	Supreme Infrastructure BOT Private Limited Supreme Infrastructure BOT Holdings Private Limited Supreme Panvel Indapur Tollways Private Limited Supreme Mega Structures Private Limited Rudranee Infrastructure Limited Supreme Infrastructure Overseas LLC

Subsidiaries of Supreme Infrastructure BOT Private Limited (As on 31.03.2014) :	Supreme Manor Wada Bhiwandi Infrastructure Private Limited Supreme Infra Projects Private Limited Supreme Suyog Funicular Ropeways Private Limited Kopargaon Ahmednagar Tollways (Phase I) Private Limited Supreme Vasai Bhiwandi Tollways Private Limited (incorporated on 1 May 2013 ) Supreme Tikamgarh Orchaa Annuity Private Limited (incorporated on 7 February 2014 ) Kotkapura Muktsar Tollways Private Limited ( w.e.f 1 October 2013 )

Subsidiaries of Supreme Infrastructure BOT Holdings Private Limited (As on 31.03.2014) :	Supreme Best Value Kolhapur (Shiroli) Sangli Tollways Private Limited Supreme Ahmednagar Karmala Tembhurni Tollways Private Limited Supreme Kopargaon Ahmednagar Tollways Private Limited

Associates (As on 31.03.2014) :	Sanjose Supreme Tollways Development Private Limited Kotkapura Muktsar Tollways Private Limited (till 30 September 2013) Mohol Kurul Kamati Mandrup Tollways Private Limited

Joint ventures (As on 31.03.2014) :	Supreme - MBL JV Petron - Supreme JV Supreme - Siddhi JV Supreme Zanders JV Supreme Brahmaputra JV HGCL - Niraj - Supreme Infrastructure Private Limited

Companies in which key management personnel or their relatives have significant influence (Other related parties) (As on 31.03.2014) :	Supreme Housing and Hospitality Private Limited BHS Housing Private Limited

CAPITAL STRUCTURE

As on 31.03.2015

Authorised Capital: Not Available

Issued, Subscribed & Paid-up Capital: Rs.281.984 Million

As on 31.03.2014

Authorised Capital:

No. of Shares	Type	Value	Amount

30000000	Equity Shares	Rs.10/- each	Rs.300.000 Million
20000000	1% Non-cumulative redeemable preference shares	Rs.10/- each	Rs.200.000 Million
	Total		Rs.500.000 Million

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount

20092087	Equity Shares	Rs.10/- each	Rs.200.921 Million
2500000	1% Non-cumulative redeemable preference shares	Rs.10/- each	Rs.25.000 Million
	Total		Rs.225.921 Million

Reconciliation of equity shares outstanding at the beginning and at the end of the reporting period

Particulars	As at 31.03.2014
Particulars	Number	Rs. In Million
Balance at the beginning of the year	16742087	167.421
Add : Issued during the year	3350000	33.500
Balance at the end of the year	20092087	200.921

During the year, the Company has issued 3,350,000 Equity Shares of face value of Rs.10 each at a premium of Rs.175 per share, pursuant to the resolutions passed by the Shareholders during Extra Ordinary General Meetings held on 13 December 2013, the pricing of the issue has been determined as per the SEBI guidelines.

Reconciliation of preference shares outstanding at the beginning and at the end of the reporting period

Particulars	As at 31.03.2014
Particulars	Number	Rs. In Million
Balance at the beginning of the year	2500000	25.000
Add : Issued during the year	---	---
Balance at the end of the year	2500000	25.000

Terms/rights attached to equity shares

The Company has only one class of equity shares having a par value of Rs.10 per share. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividends in Indian Rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuring Annual General Meeting, except interim dividend. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts, if any. The distribution will be in proportion to the number of equity shares held by the shareholders.

Rights, preferences, restrictions and conversion terms attached to preference shares

The Company had, on 13 May 2011, allotted 2,500,000 non-cumulative, non-convertible, redeemable preference shares of Rs.10 each at a premium of Rs.90 per share to BHS Housing Private Limited (Allottee). The Preference Shares shall be redeemable at any time after the expiry of two years but before the expiry of ten years from the date of allotment redeemable at a premium of Rs.90 per share. These Preference Shares carry preferential right of dividend at the rate of 1%. The holders of Preference Shares have no rights to receive notices of, attend or vote at general meetings except in certain limited circumstances. On a distribution of assets of the Company, on a winding-up or other return of capital (subject to certain exceptions), the holders of Preference Shares have priority over the holders of Equity Shares to receive the capital paid up on those shares.

Shareholders holding more than 5% of the shares in the Company as at balance sheet date

Particulars	As at 31.03.2014
Particulars	Number	% Shareholding
Equity shares of Rs.10 each
Bhawanishankar H Sharma	3699000	18%
Vikram B Sharma	3015832	15%
Vikas B Sharma	1800000	9%
Kitara PIIN 1101	1650000	8%
BHS Housing Private Limited	1350000	7%
Preference shares of Rs.10 each
BHS Housing Private Limited	2500000	100%

As per of the Company, including its register of shareholders/members and other declarations received from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownership of shares.

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	281.984	225.921	192.421
(b) Reserves & Surplus	7442.629	6026.720	4575.764
(c) Convertible Warrants	0.000	92.500	0.000
(d) 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)	7724.613	6345.141	4768.185

(3) Non-Current Liabilities
(a) long-term borrowings	9442.609	1578.234	2350.863
(b) Deferred tax liabilities (Net)	0.000	0.000	104.413
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	55.266	55.568	19.424
Total Non-current Liabilities (3)	9497.875	1633.802	2474.700

(4) Current Liabilities
(a) Short term borrowings	6131.281	7550.986	6667.818
(b) Trade payables	1125.650	2114.868	2198.363
(c) Other current liabilities	3607.556	4541.953	4498.265
(d) Short-term provisions	362.494	451.606	127.739
Total Current Liabilities (4)	11226.981	14659.413	13492.185

TOTAL	28449.469	22638.356	20735.070

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	2811.034	2874.725	3021.225
(ii) Intangible Assets	5.371	8.952	15.078
(iii) Capital work-in-progress	149.430	0.000	31.197
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	7025.476	2935.476	2227.764
(c) Deferred tax assets (net)	85.391	14.812	0.000
(d) Long-term Loan and Advances	3893.833	21.126	152.806
(e) Other Non-current assets	0.000	1.554	19.768
Total Non-Current Assets	13970.535	5856.645	5467.838

(2) Current assets
(a) Current investments	23.457	17.035	17.339
(b) Inventories	854.611	1807.694	1706.574
(c) Trade receivables	9333.420	7795.930	6920.256
(d) Cash and cash equivalents	712.000	1082.631	1297.722
(e) Short-term loans and advances	1919.243	6078.421	5325.341
(f) Other current assets	1636.203	0.000	0.000
Total Current Assets	14478.934	16781.711	15267.232

TOTAL	28449.469	22638.356	20735.070

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2015	31.03.2014	31.03.2013
	SALES
	Income	15169.484	21586.440	19869.502
	Other Income	105.911	60.550	40.627
	TOTAL	15275.395	21646.990	19910.129

Less	EXPENSES
	Material consumed and contractor costs	10824.817	17292.044	16016.307
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	0.000	(120.147)	(70.176)
	Employees benefits expense	559.728	739.090	536.686
	Other expenses	1285.356	562.780	301.975
	TOTAL	12669.901	18473.767	16784.792

Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	2605.494	3173.223	3125.337

Less	FINANCIAL EXPENSES	1899.429	1350.140	1191.805

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	706.065	1823.083	1933.532

Less/ Add	DEPRECIATION/ AMORTISATION	373.018	365.050	335.899

	PROFIT/ (LOSS) BEFORE TAX	333.047	1458.033	1597.633

Less	TAX	160.566	557.775	501.254

	PROFIT/ (LOSS) AFTER TAX	172.481	900.258	1096.379

Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	4228.337	3408.779	2461.900

Less	APPROPRIATIONS
	Transfer to General Reserve	NA	45.100	110.000
	Dividend	NA	35.600	39.500
	Total	NA	80.700	149.500

	Balance Carried to the B/S	NA	4228.337	3408.779

	Earnings / (Loss) Per Share (Rs.)
	Basic	7.97	50.88	65.47
	Diluted	7.97	49.31	65.47

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2015	31.03.2014	31.03.2013
Current Maturities of Long term debt	NA	NA	NA
Cash from operating activities	NA	566.836	1407.928
Net cash generated from operating activities	NA	215.290	853.586

KEY RATIOS

PARTICULARS		31.03.2015	31.03.2014	31.03.2013
Net Profit Margin (PAT/Sales)	(%)	1.14	4.17	5.52

Operating Profit Margin (PBDIT / Sales)	(%)	17.18	14.70	15.73

Return on Total Assets (PBT/Total Assets}	(%)	1.57	7.41	8.65

Return on Investment (ROI) (PBT/Networth)		0.04	0.23	0.34

Debt Equity Ratio (Total Debt/Networth)		2.02	1.44	1.89

Current Ratio (Current Asset/Current Liability)		1.29	1.14	1.13

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	192.421	225.921	281.984
Reserves & Surplus	4575.764	6026.720	7442.629
Convertible Warrants	0.000	92.500	0.000
Net worth	4768.185	6252.641	7724.613

long-term borrowings	2350.863	1578.234	9442.609
Short term borrowings	6667.818	7550.986	6131.281
Total borrowings	9018.681	9129.220	15573.890
Debt/Equity ratio	1.891	1.460	2.016

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	19869.502	21586.440	15169.484
		8.641	(29.727)

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	19869.502	21586.440	15169.484
Profit	1096.379	900.258	172.481
	5.52%	4.17%	1.14%

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	No
8	Designation of contact person	No
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	No
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	Yes
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 BOMBAY
Bench:- Bombay Presentation Date:- 25.03.2015
Lodging No. :	CPL/270/2015	Failing Date:-	25.03.2015	Reg. No.:-	CP/484/2015	Reg. Date:-	30.04.2015

Petitioner:-	SAURASHTRA CEMENT LIMITED		Respondent:-	SUPREME INFRASTRUCTURE (I) LIMITED
Petn. Adv:-	MARAVOOR WAMORKAR AND COMPANY		Resp. Adv.:	RAHUL KARNIK (I4800)
District:-	MUMBAI

Bench:-	SINGLE		Category:-	COMPANY PETITION U/SEC 433,434,439 COMPANIES ACT
Status:-	Pre-Admission		Stage:-	FOR ADMISSION (ORIGINAL SIDE MATTERS)
Next Date:-	31.08.2015
Next Coram:-	HON’BLE SHRI JUSTICE S.C. GUPTE		Stage:-	FOR ADMISSION (ORIGINAL SIDE MATTERS)
Last Date:-	17.08.2015
Last Coram:-	HON’BLE SHRI JUSTICE S.C. GUPTE

Act. :	Companies Act and Rules 1956			Under Section:- 433-434

CORPORATE INFORMATION (As on 31.03.2014)

The Company was incorporated in the year 1983 and is engaged in construction and development of roads, highways, buildings, bridges, etc. The Company also owns and operates Ready Mix Concrete (“RMC”) plant, Asphalt plant and Crushing plant.

OPERATION AND PERFORMANCE REVIEW (As on 31.03.2014)

During the year, the Company’s income from operations improved as compared to the previous year. Total Income during the year was Rs.21586.400 Million as compared to Rs.19869.500 Million in the previous year, registering a growth of 8.64%. The Net Profit before Interest, Depreciation and Tax during the year under review was Rs.3112.600 Million as compared to Rs.3084.700 Million in the previous year, registering a growth of 0.9 %. The Net Profit after Tax was Rs.900.200 Million as compared to Rs.1096.400 Million in the previous year.

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10572528	30/03/2015	29,420,000,000.00	SBICAP TRUSTEE COMPANY LIMITED	202, MAKER TOWER, 'E', CUFFE PARADE, COLABA, MUMBAI - 400005, MAHARASHTRA, INDIA	C55242796
2	10532977	01/10/2014	400,000,000.00	STATE BANK OF INDIA	INDUSTRIAL FINANCE BRANCH, SHIV SAGAR ESTATE, DEVCHAND HOUSE, 1ST FLOOR, WORLI (SOUTH), MUMBAI - 400018, MAHARASHTRA, INDIA	C34696906
3	10554817	30/09/2014	1,400,000,000.00	SREI EQUIPMENT FINANCE LIMITED	'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA	C46517264
4	10554818	30/09/2014	1,400,000,000.00	SREI EQUIPMENT FINANCE LIMITED	'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA	C46518023
5	10513250	19/07/2014	1,560,000,000.00	UNION BANK OF INDIA	SME BRANCH, NASIK, B-50, A-ROAD, NICE MIDC, SATPUR, NASIK - 422007, MAHARASHTRA, INDIA	C15264765
6	10506186	22/06/2014	6,800,000.00	SREI EQUIPMENT FINANCE LIMITED	'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA	C09389255
7	10507250	01/06/2014	8,921,000.00	SREI EQUIPMENT FINANCE LIMITED	'VISHWAKARMA', 86C, TOPSIA ROAD,, KOLKATA - 700046, WEST BENGAL, INDIA	C10014587
8	10502306	31/05/2014	309,200,000.00	SREI EQUIPMENT FINANCE LIMITED	'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA	C06185631
9	10502307	31/05/2014	370,800,000.00	SREI EQUIPMENT FINANCE LIMITED	'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA	C06186191
10	10507718	31/05/2014	350,000,000.00	SREI EQUIPMENT FINANCE LIMITED	'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA - 700046, WEST BENGAL, INDIA	C10295004

* Date of charge modification

FIXED ASSETS

Freehold land
Leasehold land
Buildings
Plant and Equipment
Furniture and fixtures
Vehicles
Office Equipment
Computers

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.65.82
UK Pound	1	Rs.103.38
Euro	1	Rs.74.26

INFORMATION DETAILS

Information Gathered by :	NYA

Analysis Done by :	HNA

Report Prepared by :	PNM

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	4
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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		42

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

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