MIRA INFORM REPORT

Report No. :	337755
Report Date :	24.08.2015

IDENTIFICATION DETAILS

Name :	SURYA EXIM LIMITED (w.e.f September, 2002)
Formerly Known As :	PRESTIGE MARKETING PRIVATE LIMITED
Registered Office :	3040, Jash Textile and Yarn Market, Ring Road, Surat – 395003, Gujarat
Tel. No.:	91-261-4083100
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	28.06.1989
Com. Reg. No.:	04-012428
Capital Investment / Paid-up Capital :	Rs. 57.750 Million
CIN No.: [Company Identification No.]	U51100GJ1989PLC012428
IEC No.:	5299004150
TAN No.: [Tax Deduction & Collection Account No.]	SRTS05536G
PAN No.: [Permanent Account No.]	AABCP4158J
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is engaged in the business of Marketing of Commodities like Non-Coking Coal, Polyester Yarn/Chips, Pet Resins, Polymers like PVC Resin, PP Raffia, LDPE, HDPE, MEG, Nylon Chips & PTA/MEG etc.
No. of Employees :	200 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (42)

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

Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject was originally incorporated in the name of “Prestige Marketing Private Limited” in June 1989 and later converted into a Public Limited Company in September 2002. It is established company having satisfactory track record. The rating reflects on lower profitability margin and its sales turnover during FY-14. Further it constrained on vulnerability of the company’s operations to commodity price cycles and the exchange rate fluctuation. Lower profits along with debt-funded capex have led to overall increase in the gearing levels of the company. The ratings take consideration in the longstanding experience of the promotors in the trading of commodities and long track record of the business operations and diversified business group. Trade relations are fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered normal for business dealings at its 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	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	ICRA
Rating	Long term fund based: “BB+”
Rating Explanation	Moderate risk of default regarding timely servicing of financial obligations.
Date	January 2014

Rating Agency Name	ICRA
Rating	Short term non-fund based limits: “A4+”
Rating Explanation	Minimal degree of safety and very high credit risk.
Date	January 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 PARTED BY

Name :	Mr. Harvi K. Patel
Designation :	Finance Controller
Contact No.:	91-261-4083100
Date :	21.08.2015

LOCATIONS

Registered Office :	3040, Jash Textile and Yarn Market, Ring Road, Surat – 395003, Gujarat, India
Tel. No.:	91-261-4083100/ 101/ 4083118 (D)/ 4083126
Fax No.:	91-261-2328842/ 4083120/ 2328842
E-Mail :	info@surya-exim.com suryaexim@hotmail.com japaboo@hotmail.com harvi@surya-exim.com
Website :	http://www.surya-exim.com
Plant and Warehouse 1 :	SURYA COAL SURAT Survey No. 51, Moje Gavier, ABG Shipyard Road, Magdalla Port, Surat-395007, Gujarat, India
Plant and Warehouse 2 :	AMW WAREHOUSE Prahash Estate, Opposite, Hojiwala Estate, Mojevanz Road, Sachin Palsana Road, Surat, Gujarat, India
Plant and Warehouse 3 :	SILVASSA Standard House, 40/2, Near Naman Plastics Piparia, Silvassa – 396230, Dadra Nagar Haveli (U.T.), India
E-Mail :	sil@surya-exim.com
Plant and Warehouse 4 :	DAMAN Plot No. 39/A, Survey No. 483/3, Diamond Industrial Estate, Village Dabhel Taluka, District Daman, Daman and Diu (U.T.), India
E-Mail :	daman@surya-exim.com
Plant and Warehouse 5 :	BHIWANDI Gala No. 5, A-Wing, Patil Compound, Village Val, Taluka Bhiwandi, District Thane, Maharashtra, India
E-Mail :	mumbai@surya-exim.com
Plant and Warehouse 6 :	KOLKATA Shyamkunj, 12A, Lord Sinha Road, 4th Floor, Room 402, Kolkata - 400071, West Bengal, India
Plant and Warehouse 7 :	SURYA COAL NAGPUR R-101, Jagat Plaza, Nagpur – 440010, Maharashtra, India

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Bhalesh Rasiklal Mehta

Designation :

Director

Address :

8/B, Chandan Park Society, Near Swaminarayan Temple, Adajan Road, Surat - 395009, Gujarat, India

Date of Birth/Age :

14.09.1964

Qualification :

B. Com

Date of Appointment :

05.10.2003

DIN No.:

00004707

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	U17119GJ1977PTC003021	RACHNA ART PRINTS PRIVATE LIMITED	Whole-time director	16/12/2013	07/02/1996	-	Active	NO
2	U17110GJ1991PTC014851	SHREE SOMNATH FABRICS PRIVATE LIMITED	Director	01/04/2000	01/04/2000	23/08/2012	Active	NO
3	U51100GJ1989PLC012428	SURYA EXIM LIMITED	Director	05/10/2003	05/10/2003	-	Active	NO
4	U17110GJ1991PTC016017	DIGANT SYNTHETICS PRIVATE LIMITED	Director	05/10/2003	05/10/2003	-	Active	NO
5	U50100GJ2012PTC073073	DESIGNER DRIVE PRIVATE LIMITED	Director	21/12/2012	21/12/2012	-	Active	NO

Name :

Mrs. Archana Jagdish Saboo

Designation :

Whole-Time Director

Address :

3/A, Nidhivan Estate, B/H Gokul Row House, Umra, Surat - 395007, Gujarat, India

Date of Birth/Age :

05.12.1968

Qualification :

B. Com

Date of Appointment :

13.03.2013

PAN No.:

ACMPS5771Q

DIN No.:

01711391

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	U51101RJ1992PTC006610	SASHANK COMMERCIAL PRIVATE LIMITED	Director	17/01/1996	17/01/1996	18/02/2008	Active	NO
2	U65910GJ1993PTC019582	SHREE JPSCO CONSULTANTS PRIVATE LIMITED	Director	28/08/1996	28/08/1996	-	Active	NO
3	U17297GJ1991PTC016026	VIVEK SYNTHETICS PRIVATE LIMITED	Director	02/06/1997	02/06/1997	18/06/2008	Active	NO
4	U51100GJ1989PLC012428	SURYA EXIM LIMITED	Whole-time director	13/03/2013	07/08/2000	-	Active	NO
5	U51101MH1992PTC236410	PARITOSH COMMERCE PRIVATE LIMITED	Director	18/02/2001	18/02/2001	29/04/2009	Active	NO
6	U51101MH1992PTC236412	URJITA COMMERCE PRIVATE LIMITED	Director	18/02/2001	18/02/2001	29/04/2009	Active	NO

Name :

Mr. Jagdish Prasad Saboo

Designation :

Managing Director

Address :

3/A, Nidhivan Apartment Behind Gokul Row House, Umara, Surat - 395007, Gujarat, India

Date of Birth/Age :

02.04.1964

Qualification :

Chartered Accountants

Date of Appointment :

13.03.2012

PAN No.:

ABNPS7077B

DIN No.:

01711507

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	U51100GJ1989PLC012428	SURYA EXIM LIMITED	Managing director	13/03/2013	27/12/1990	-	Active	NO
2	U65910GJ1993PTC019582	SHREE JPSCO CONSULTANTS PRIVATE LIMITED	Director	01/06/1993	01/06/1993	-	Active	NO
3	U51101MH1992PTC236410	PARITOSH COMMERCE PVT. LTD.	Director	18/02/2001	18/02/2001	29/04/2009	Active	NO
4	U51101MH1992PTC236412	URJITA COMMERCE PRIVATE LIMITED	Director	18/02/2001	18/02/2001	29/04/2009	Active	NO
5	U51101RJ1992PTC006610	SASHANK COMMERCIAL PRIVATE LIMITED	Director	20/07/2002	20/07/2002	18/02/2008	Active	NO
6	U17110GJ1991PTC014851	SHREE SOMNATH FABRICS PRIVATE LIMITED	Director	10/10/2002	10/10/2002	23/08/2012	Active	NO
7	U17297GJ1991PTC016026	VIVEK SYNTHETICS PRIVATE LIMITED	Director	15/03/2004	15/03/2004	18/06/2008	Active	NO

KEY EXECUTIVES

Name :	Mr. Harvi Kishorkumar Patel
Designation :	Secretary
Address :	5, Narottam Nagar Socirty, Near Ajaramar Chowk, Opposite BSNL Office, New Rander Road, Surat -395009, Gujarat, India
PAN No.:	BLJPP3359N
Name :	Mr. Harvi K. Patel
Designation :	Finance Controller

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2014

NOTE: SHAREHOLDING DETAILS FILES ATTACHED

AS ON 30.09.2014

Equity Share Breakup	Percentage of Holding
Category
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	13.43
Bodies corporate	38.33
Directors or relatives of directors	45.33
Other top fifty shareholders	2.91
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in the Business of Marketing of Commodities like Non-Coking Coal, Polyester Yarn/Chips, Pet Resins, Polymers like PVC Resin, PP Raffia, LDPE, HDPE, MEG, Nylon Chips & PTA/MEG etc.

Products :

ITC Code No.	Product Descriptions
39042110	Polymer

Brand Names :

· Yarn – “Surya Yarn”

· Coal – “Surya Coal”

Agencies Held :

--

Exports :

Products :

· PVC Resin

Countries :

· U.A.E.

Imports :

Products :

Resin

Countries :

· China

· Korea

Terms :

Selling :

Cash, L/C and Credit (30/ 60/ 90 Days)

Purchasing :

Cash, L/C and Credit (30/ 60/ 90 Days)

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	Not Divulged
Since how long known:	Not Divulged
Maximum limit dealt:	Not Divulged
Experience:	Not Divulged
Remark	Not Divulged

Customers :

End User and OEM,s

Reference:	Not Divulged
Name of the Person (Designation):	Not Divulged
Contact Number:	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:	State Bank of India
Branch:	Specialized Commercial Branch, Kiran Chamber, Opp. J.K. Tower, Ring Road, Surat - 395002, Gujarat, India
Person Name (with Designation):	Not Divulged
Contact Number:	91-261-2330108 (Ringing)
Name of Account Holder:	Not Divulged
Account Number:	Not Divulged
Account Since (Date/ Year of A/c Opening):	Not Divulged
Average Balance Maintained (Optional):	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan):	Cash Credit = Rs. 570.000 Million
Account Operation:	Not Divulged
Remarks:	Not Divulged

· HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India

· Canara Bank, Kotsafil Main Road Branch, Annapurna Building, Opposite, Air India, Kotsafil Main Road, Surat - 395002, Gujarat, India

· ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India

· Axis Bank Limited

Facilities :

SECURED LOANS	31.03.2014 (Rs. In Million)	31.03.2013 (Rs. In Million)
LONG-TERM BORROWINGS
Rupee term loans from others	12.545	0.000
Loans taken for vehicles	52.079	5.225
Other loans and advances, others	68.779	63.993
SHORT TERM BORROWINGS
Loans repayable on demand from banks	479.646	261.195
Total	613.049	330.413

Financial Institution :

Tata Motor Finance Limited

Auditors 1 :

Name :

B.K.Chandak and Company

Chartered Accountants

Address :

408, 21st Century Business Centre, Ring Road, Surat – 395002, Gujarat, India

Income-tax PAN of auditor or auditor's firm :

AAGFB9751K

Auditors 2:

Name:

Sutarwala and Associates

Chartered Accountants

Address :

2^nd Floor, above LG Electronics, Opposite, Saher Bakery, Makai Pool, Nanpura, Surat, Gujarat, India

PAN No :

ADRPS1314F

Collaborators :

--

Sister Concerns :

Name :	Shree JPSCO Consultants Private Limited
Address :	3036, Jash Textile, Ring Road, Surat-395002, Gujarat, India
Line of Business :	Finance and Management Consultancy

Name :	Surya Corporation
Address :	3036,Jash Textile, Ring Road, Surat-395002, Gujarat, India
Line of Business :	Trading Activities

Others Related Party:

· Shree Somnath Fabrics Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
7,500,000	Equity Shares	Rs. 10/- each	Rs. 75.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
5,775,000	Equity Shares	Rs. 10/- each	Rs. 57.750 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	57.750	57.750	55.000
(b) Reserves & Surplus	444.459	427.036	245.609
(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)	502.209	484.786	300.609
(3) Non-Current Liabilities
(a) Long-term borrowings	133.403	69.218	92.577
(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)	133.403	69.218	92.577
(4) Current Liabilities
(a) Short term borrowings	479.646	261.195	85.934
(b) Trade payables	1346.005	1158.999	1089.998
(c) Other current liabilities	15.628	6.293	15.314
(d) Short-term provisions	0.000	19.755	30.849
Total Current Liabilities (4)	1841.279	1446.242	1222.095
TOTAL	2476.891	2000.246	1615.281
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	151.534	64.989	95.128
(ii) Intangible Assets	0.244	0.057	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	2.339	2.655	2.508
(c) Deferred tax assets (net)	3.009	2.640	0.233
(d) Long-term Loan and Advances	0.000	0.000	0.146
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	157.126	70.341	98.015
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	536.049	284.939	231.875
(c) Trade receivables	1225.462	1079.817	839.576
(d) Cash and cash equivalents	437.726	473.775	369.512
(e) Short-term loans and advances	32.352	33.982	15.489
(f) Other current assets	88.176	57.392	60.814
Total Current Assets	2319.765	1929.905	1517.266
TOTAL	2476.891	2000.246	1615.281

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income	7585.452	9002.689	8713.301
		Other Income	0.773	1.956	0.023
		TOTAL (A)	7586.225	9004.645	8713.324
Less	EXPENSES
		Purchases of Stock-in-Trade	7746.607	8790.520	8039.913
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(251.110)	(53.064)	194.425
		Employees benefits expense	34.109	23.083	17.727
		Other expenses	43.535	30.502	230.705
		TOTAL (B)	7573.141	8791.041	8482.770
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		13.084	213.604	230.554
Less	FINANCIAL EXPENSES (D)		(46.180)	56.126	71.904
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		59.264	157.478	158.650
Less/ Add	DEPRECIATION/ AMORTISATION (F)		31.992	32.828	26.708
	PROFIT BEFORE TAX (E-F) (G)		27.272	124.650	131.942
Less	TAX (H)		9.849	39.474	43.484
	PROFIT AFTER TAX (G-H) (I)		17.423	85.176	88.458
	FOB Value of Imports		4751.657	4794.082	4186.093
	CIF Value of Imports		6270.134	5859.794	4712.573
	Earnings Per Share (Rs.)		3.02	14.75	16.08

PARTICULARS	31.03.2015
Sales Turnover (Approximately)	8000.000

The above information has been parted by Mr. Harvi K. Patel (Finance Controller).

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	0.000	0.000	0.000
Cash Generated from Operations	NA	NA	NA
Net Cash Flow from used in Operations	54.036	83.956	140.320

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	0.23	0.95	1.02
Operating Profit Margin (PBDIT/Sales)	(%)	0.17	2.37	2.65
Return on Total Assets (PBT/Total Assets}	(%)	1.10	6.25	8.18
Return on Investment (ROI) (PBT/Networth)		0.05	0.26	0.44
Debt Equity Ratio (Total Liability/Networth)		1.22	0.68	0.59
Current Ratio (Current Asset/Current Liability)		1.26	1.33	1.24

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	55.000	57.750	57.750
Reserves & Surplus	245.609	427.036	444.459
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	300.609	484.786	502.209
Long-term borrowings	92.577	69.218	133.403
Short term borrowings	85.934	261.195	479.646
Total borrowings	178.511	330.413	613.049
Debt/Equity ratio	0.594	0.682	1.221

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	8713.301	9002.689	7585.452
		3.321	(15.742)

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	8713.301	9002.689	7585.452
Profit	88.458	85.176	17.423
	1.02%	0.95%	0.23%

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	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	Yes
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)	Yes
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	Yes
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	Yes
35	Negative Reporting by Auditors in the Annual Report	No

INDEX OF CHARGES

S.NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10584193	24/07/2015	23,307,500.00	AXIS BANK LIMITED	TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD - 380006, GUJARAT, INDIA	C60893229
2	10568341	06/05/2015	12,652,257.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA	C53124368
3	10570948	30/04/2015	33,000,000.00	TATA MOTORS FINANCE LIMITED	10TH FLOOR, 106 A AND B, MAKER CHAMBERS III, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA, INDIA	C54388152
4	10581858	30/04/2015	17,922,240.00	ICICI BANK LIMITED	LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA	C59788935
5	10566152	30/03/2015	3,574,600.00	HDFC BANK LIMITED	HDFC BANK HOUSE, SENAPATI BAPAT MARG,, LOWER PARE L W, MUMBAI - 400013, MAHARASHTRA, INDIA	C52047750
6	10544435	31/12/2014	9,996,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA	C41130360
7	10544438	31/12/2014	19,992,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA	C41131558
8	10544415	17/12/2014	7,978,500.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL(WEST), MUMBAI - 400013, MAHARASHTRA, INDIA	C41118399
9	10544414	15/12/2014	9,996,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST) , MUMBAI - 400013, MAHARASHTRA, INDIA	C41117912
10	10544413	11/12/2014	10,584,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA	C41116989
11	10460897	26/10/2013	18,541,204.00	TATA MOTORS FINANCE LIMITED	C/O. TATA MOTORS LIMITED, 3RD FLOOR, NANAVATI MA  HALAYA, 18, HOMI MODY STREET, MUMBAI - 400001, MAHARASHTRA , INDIA	B89800205
12	10320343	01/01/2015 *	570,000,000.00	STATE BANK OF INDIA	SPECIALIZED COMMERCIAL BRANCH, KIRAN CHAMBER, OPPOSITE, J K TOWER, RING ROAD, SURAT - 395002, GUJARAT, INDIA	C42219428
13	90113004	19/01/2015 *	1,915,000,000.00	CANARA BANK	KOTSAFIL MAIN ROAD BRANCH, ANNAPURNA BUILDING, OPPOSITE, AIR INDIA, KOTSAFIL MAIN ROAD, SURAT - 395002, GUJARAT, INDIA	C43619774

FIXED ASSETS:

· Land

· Buildings

· Plant and Equipment

· Other plant and Equipment

· Furniture and Fixtures

· Vehicles

· Motor Vehicles

· Office Equipment

· Computer Equipment’s

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.65.83
UK Pound	1	Rs.103.39
Euro	1	Rs.74.27

INFORMATION DETAILS

Information Gathered by :	PPT
Analysis Done by :	KAS
Report Prepared by :	ARC

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	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	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		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.