MIRA INFORM REPORT

Report No. :	354034
Report Date :	11.12.2015

IDENTIFICATION DETAILS

Name :	PICL (INDIA) PRIVATE LIMITED (w.e.f. 14.08.2001)

Formerly Known As :	POLAR INTERCONTINENTAL PRIVATE LIMITED

Registered Office :	D - 151/A, Okhla Industrial Area, Phase – I, Delhi- 110020
Tel. No.:	91-11-26855020

Country :	India

Financials (as on) :	31.03.2015

Date of Incorporation :	13.09.1994

Com. Reg. No.:	55-061471

Capital Investment / Paid-up Capital :	Rs.36.421 million

CIN No.: [Company Identification No.]	U74899DL1994PTC061471

IEC No.:	0597069981

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

PAN No.: [Permanent Account No.]	AACCP4524H AACCP4524P

Legal Form :	Private Limited Liability Company

Line of Business :	Subject is engaged in the production of electric motors and food processors. (Registered Activity)

No. of Employees :	1000 (Approximately) [(Permanent – 200) (Contract – 800)]

RATING & COMMENTS

MIRA’s Rating :

Ba (49)

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

Maximum Credit Limit :	USD 700000

Status :	Satisfactory

Payment Behaviour :	Usually correct

Litigation :	Clear

Comments :	Subject is a subsidiary of Amber Enterprises India Private Limited. In is an established company incorporated in the year 1994 and it is the manufacturing of electric motors. It has satisfactory track record. For the financial year ended 2015, the company has reported increase in its total revenue profile by 15.44% which further resulted to rise in net profit of the company. Moreover, rating also considers company’s acceptable financial risk profile with adequate networth base along with decent debt protection metrics. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct. In view of aforesaid, 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	CRISIL
Rating	Long Term Bank Facilities (A-)
Rating Explanation	Adequate degree of safety and low credit risk.
Date	June 25, 2015

Rating Agency Name	CRISIL
Rating	Short Term Bank Facilities (A2+)
Rating Explanation	Strong degree of safety and low credit risk.
Date	June 25, 2015

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 31-03-2015.

INFORMATION PARTED BY

Name :	Mr. Antaryami Jenu
Designation :	Account Officer
Contact No.:	91-129-4284430
Date :	08.12.2015

LOCATIONS

Registered Office :	D - 151/A, Okhla Industrial Area, Phase – I, Delhi- 110020, India
Tel. No.:	91-11-26855020/ 26816129/ 26817182
Fax No.:	91-11-26855020
E-Mail :	star@piclindia.com info@piclmotors.com kanikaahuja@ambergroup[india.com picl@piclindia.com cs_corp@ambergroupindia.com
Website :	http://piclmotors.com www.piclindia.com http://www.piclmotors.com
Locality :	Industrial

Factory 1:	Plot No.: 79, NH-2, Sector – 6, Faridabad – 121 006, Haryana, India

Factory 2:	Plot No.99 and 92, NH – 2, Sector-6, Faridabad – 121 006, Haryana, India
Tel. No.:	91-129-4061101-03/ 4284400-30
Fax No.:	91-129-4061101-03/ 4157450

Corporate Office :	Universal Trade Tower, 1^st Floor, Sector – 49, Sona Road, Gurgaon – 122102, Haryana, India

DIRECTORS

As on: 29.09.2014

Name :

Mr. Daljit Singh

Designation :

Managing Director

Address :

20 A, SBS Colony, Rajpura – 140401, Punjab, India

Date of Birth/Age :

01.05.1978

Date of Appointment :

12.11.2012

DIN No.:

02023964

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	U28910PB1990PTC010265	AMBER ENTERPRISES INDIA PRIVATE LIMITED	Director	30/09/2008	01/01/2008	-	Active	NO
2	U29190PB2004PTC027594	AMRIT AIRCON SYSTEM PRIVATE LIMITED	Director	15/09/2011	31/08/2011	-	Active	NO
3	U74899DL1994PTC061471	PICL (INDIA) PRIVATE LIMITED	Managing director	06/04/2013	12/11/2012	-	Active	NO

Name :

Mr. Satwinder Singh

Designation :

Director

Address :

F/703, Mayurdhwaj Apartments, 601 P Extension, Patparganj, New Delhi – 110092, India

Date of Birth/Age :

06.07.1964

Date of Appointment :

12.11.2012

DIN No.:

00164903

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	U74140DL2006PTC157061	Corporatecare Consultants Private Limited	Director	27/12/2006	27/12/2006	-	Converted to LLP and dissolved	NO
2	U74900DL2009PTC195655	HARVEST HOLDINGS PRIVATE LIMITED	Director	30/12/2010	06/11/2009	05/03/2013	Active	NO
3	U45400DL2010PTC202709	GRACE REALCON PRIVATE LIMITED	Director	19/05/2010	19/05/2010	-	Converted to LLP and dissolved	NO
4	U72900PN2008PTC140418	DURA AUTO SYSTEMS INDIA PRIVATE LIMITED	Director	29/12/2011	28/09/2011	-	Active	NO
5	U28910PB1990PTC010265	AMBER ENTERPRISES INDIA PRIVATE LIMITED	Director	29/09/2012	19/11/2011	-	Active	NO
6	U74899DL1994PTC061471	PICL (INDIA) PRIVATE LIMITED	Director	12/11/2012	12/11/2012	-	Active	NO
7	U25203DL2006PLC153993	Continental India Limited	Director	06/11/2015	31/03/2015	-	Active	NO
8	AAD-3796	GRACE REALCON LLP	Designated Partner	14/02/2015	14/02/2015	-	Active	NO
9	AAD-3870	CORPORATECARE CONSULTANTS LLP	Designated Partner	17/02/2015	17/02/2015	-	Active	NO

Name :

Mr. Jasbir Singh

Designation :

Director

Address :

20 A, SBS Colony, Rajpura – 140401, Punjab, India

Date of Birth/Age :

28.05.1975

Date of Appointment :

12.11.2012

DIN No.:

00259632

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	U28910PB1990PTC010265	AMBER ENTERPRISES INDIA PRIVATE LIMITED	Managing director	30/09/2010	01/10/2004	-	Active	NO
2	U00072PB2005PTC029176	AMBER AVIATION (INDIA) PRIVATE LIMITED	Director	20/03/2015	14/11/2005	-	Active	NO
3	U01120PB2007PTC031196	AMBER ORGANIC FARMING PRIVATE LIMITED	Director	11/06/2007	11/06/2007	-	Active	NO
4	U74120UR2010PTC033101	AMBER INFRACON AND ENERGY INDIA PRIVATE LIMITED	Director	23/03/2010	23/03/2010	01/11/2013	Active	NO
5	U55101DL2009PTC196079	HARVEST HOTELS AND SERVICED APARTMENTS PRIVATE LIMITED	Director	30/12/2010	20/10/2010	09/07/2014	Active	NO
6	U29190PB2004PTC027594	AMRIT AIRCON SYSTEM PRIVATE LIMITED	Director	15/09/2011	31/08/2011	15/05/2015	Active	NO
7	U74899DL1994PTC061471	PICL (INDIA) PRIVATE LIMITED	Director	12/11/2012	12/11/2012	-	Active	NO

Name :

Mr. Prakash Iyer

Designation :

Director

Address :

2B, 1303, Sumer Trinity Towers, Prabhadevi, Mumbai, 400025, Maharashtra, India

Date of Appointment :

27.09.2013

DIN No.:

00956349

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	U01541KA1985PTC006784	APPU NUTRITIONS PRIVATE LIMITED	Director	14/12/2006	14/12/2006	23/09/2008	Active	NO
2	U52599KA2006PTC040316	KETTY RETAIL VENTURES PRIVATE LIMITED	Director	14/12/2006	14/12/2006	23/09/2008	Active	NO
3	U65910MH1996PTC265704	NILGIRIS FRANCHISE PRIVATE LIMITED	Director	14/12/2006	14/12/2006	23/09/2008	Active	NO
4	U85110MH1988PTC265435	NILGIRI'S MECHANISED BAKERY PRIVATE LIMITED	Director	14/12/2006	14/12/2006	23/09/2008	Active	NO
5	U85110KA1990PLC011089	DTDC Express Limited	Director	22/09/2009	21/05/2009	05/07/2013	Active	NO
6	U67190MH2010PTC206408	Elevate Capital Management Private Limited	Director	10/08/2010	10/08/2010	-	Active	NO
7	L28931TN1986PLC012728	Butterfly Gandhimathi Appliances Limited	Nominee director	31/08/2012	11/05/2012	-	Active	NO
8	U28910PB1990PTC010265	AMBER ENTERPRISES INDIA PRIVATE LIMITED	Nominee director	12/07/2012	12/07/2012	-	Active	NO
9	U74900MH2010PTC200212	Impact Index Cricket Private Limited	Additional director	01/11/2012	01/11/2012	-	Active	NO
10	U74899DL1994PTC061471	PICL (INDIA) PRIVATE LIMITED	Director	27/09/2013	27/09/2013	-	Active	NO

Name :

Mr. Anand Mundra

Designation :

Director

Address :

Flat No. 301, 302, 3^rd Floor, Nirmal Building, Plot No.453, At 110 Bhavani Shankar Road, Mumbai – 400028, Maharashtra, India

Date of Birth/Age :

21.12.1978

Date of Appointment :

27.09.2013

DIN No.:

03098196

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	U25209MH1991PLC060602	KRYFS POWER COMPONENTS LIMITED	Nominee director	25/09/2010	25/09/2010	30/04/2012	Active	NO
2	U85110KA1990PLC011089	DTDC Express Limited	Director	14/09/2012	21/03/2012	05/07/2013	Active	NO
3	U28910PB1990PTC010265	AMBER ENTERPRISES INDIA PRIVATE LIMITED	Nominee director	12/07/2012	12/07/2012	-	Active	NO
4	U74899DL1994PTC061471	PICL (INDIA) PRIVATE LIMITED	Director	27/09/2013	27/09/2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Antaryami Jenu
Designation :	Account Officer

Name :	NEERAJ Jindal and Associates
Designation :	Company Secretaries
Address:	#1093, 1^st Floor, Sector 43-B, Chandigarh – 160022, India

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 31.03.2015

Names of Shareholders		No. of Shares
Amber Enterprises India Private Limited, India		3642000
Mr. Jasbir Singh Joitly with Amber Entrprises India Private Limited		100
Total		3642000

As on: 29.09.2014

Category	Percentage
Bodies corporate	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in the production of electric motors and food processors. (Registered Activity)

Products :

Item Code No.	Product Description
85012000	UNVRSL AC/DC MOTORS OF AN OUTPUT > 37.5 W

Brand Names :

Not Divulged

Agencies Held :

Not Divulged

Exports :

Products :

Finished Goods

Countries :

Saudi Arabia
USA

Imports :

Products :

Raw Material

Countries :

China
Taiwan

Terms :

Selling :

Cash, L/C and Credit

Purchasing :

Cash, L/C and Credit

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
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

Customers :

Wholesalers, Retailers and Manufacturer

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

No. of Employees :

1000 (Approximately) [(Permanent – 200) (Contract – 800)]

Bankers :

Corporation Bank, Bhikaji Cama Place Branch, 3, Ansal Chambers-I, Bhikaji Cama Place, New Delhi – 110 066, India
HDFC Bank, ITO, Delhi, india
The Hong Kong and Shanghai Banking Corporation Limited, Birla House, 25 Barakhamba Road, New Delhi – 110001, India
DBS Bank Limited, Capitol Point, Baba Kharak Singh Marg, Connaught
Place, New Delhi - 110001, India
Citi Bank N.A., Jeevan Bharti Building, 4th Floor, 124 Connaught
Circus, Connaught Place, New Delhi - 110001, India
HDFC Bank Limited, HDFC Bank Housesenpati Bapat Marg, Lower Parel West, Mumbai - 400013, Maharashtra, India
Axis Bank Limited, 2nd Floor, Statesman House, 148, Barakhamba Road, New Delhi - 110001, India

Facilities :

Secured Loan	31.03.2015 (Rs. in Million)	31.03.2014 (Rs. in Million)
Long-term Borrowings
Rupee term loans from banks	20.000	0.000
Other loans and advances	0.331	1.580
Short-term borrowings
Loans repayable on demand from Banks	264.317	272.442
Total	284.648	274.022


Auditors 1:
Name :	BM Sharma and Associates Chartered Accountants
Address :	39, Maharani Bagh, GMS Road , Dehradun, Delhi, India
Income-tax PAN of auditor or auditor's firm :	AADFB9809M

Auditors 2:
Name :	Walker, Chandiok and Company LLP Chartered Accountants
Address :	21st Floor, DLF Square, Jacaranda Marg, DLF Phase II, Gurgaon, Haryana, India
Income-tax PAN of auditor or auditor's firm :	AAAFW4298E

Memberships :	--

Collaborators :	---

Holding Company :	Amber Enterprises (India) Private Limited

Enterprises over which key managerial personnel (KMP) of the Company and their relatives have significant influence :	Home Appliances Company (till April 2, 2014)

CAPITAL STRUCTURE

AS ON 31.03.2015

Authorised Capital :

No. of Shares	Type	Value	Amount

5000000	Equity Shares	Rs.10/- each	Rs.50.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

3642100	Equity Shares	Rs.10/- each	Rs.36.421 Million

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	36.421	36.421	36.420
(b) Reserves & Surplus	208.696	161.471	125.398
(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)	245.117	197.892	161.818

(3) Non-Current Liabilities
(a) long-term borrowings	20.331	1.580	14.652
(b) Deferred tax liabilities (Net)	18.401	0.000	2.023
(c) Other long term liabilities	0.000	0.000	3.360
(d) long-term provisions	8.673	5.840	5.735
Total Non-current Liabilities (3)	47.405	7.420	25.770

(4) Current Liabilities
(a) Short term borrowings	264.317	272.442	200.979
(b) Trade payables	389.854	346.239	338.283
(c) Other current liabilities	58.603	61.430	33.163
(d) Short-term provisions	0.454	0.259	0.129
Total Current Liabilities (4)	713.228	680.370	572.554

TOTAL	1005.750	885.682	760.142

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	260.595	212.098	140.117
(ii) Intangible Assets	18.426	7.184	5.047
(iii) Capital work-in-progress	26.112	20.827	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.899	0.000
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	21.447	34.467	31.798
(e) Other Non-current assets	16.877	0.937	13.601
Total Non-Current Assets	343.457	276.412	190.563

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	143.469	152.081	171.700
(c) Trade receivables	347.979	275.216	213.813
(d) Cash and cash equivalents	3.608	13.426	65.230
(e) Short-term loans and advances	161.078	162.791	118.836
(f) Other current assets	6.159	5.756	0.000
Total Current Assets	662.293	609.270	569.579

TOTAL	1005.750	885.682	760.142

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2015	31.03.2014	31.03.2013
	SALES
		Income	1736.033	1511.418	1552.731
		Other Income	37.575	24.960	27.400
		TOTAL (A)	1773.608	1536.378	1580.131

Less	EXPENSES
		Cost of Materials Consumed	1425.728	1166.934
		prior Period	1.692	0.000
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	3.026	29.576
		Employees benefits expense	95.625	73.099
		Other expenses	122.897	158.271
		TOTAL (B)	1648.968	1427.880	1526.453

	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		124.640	108.498

Less	FINANCIAL EXPENSES (D)		49.617	39.849

	PROFIT/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		75.023	68.649	53.678

Less	DEPRECIATION/ AMORTISATION (F)		(10.161)	20.892	18.064

	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		85.184	47.757	35.614

Less	TAX (H)		35.155	11.689	13.487

	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		50.029	36.068	22.127

	EARNINGS IN FOREIGN CURRENCY		79.369	62.102	69.320

	IMPORTS		79.369	62.102	69.320

	Earnings Per Share (Rs.)		13.74	9.90	6.08

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2015	31.03.2014	31.03.2013
Current Maturities of Long term debt	21.249	1.136	10.301
Net cash flows from (used in) operations	104.079	26.733	(22.559)
Net cash flows from (used in) operating activities	89.742	20.986	(34.770)

KEY RATIOS

PARTICULARS		31.03.2015	31.03.2014	31.03.2013
Net Profit Margin (PAT / Sales)	(%)	2.88	2.39	1.43

Operating Profit Margin (PBIDT/Sales)	(%)	7.18	7.18	NA

Return on Total Assets (PBT/Total Assets}	(%)	8.70	5.53	4.69

Return on Investment (ROI) (PBT/Networth)		0.35	0.24	0.22

Debt Equity Ratio (Total Debt /Networth)		1.25	1.39	1.40

Current Ratio (Current Asset/Current Liability)		0.93	0.90	0.99

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	36.420	36.421	36.421
Reserves & Surplus	125.398	161.471	208.696
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	161.818	197.892	245.117

long-term borrowings	14.652	1.580	20.331
Short term borrowings	200.979	272.442	264.317
Current maturities of long-term debts	10.301	1.136	21.249
Total borrowings	225.932	275.158	305.897
Debt/Equity ratio	1.396	1.390	1.248

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	1552.731	1511.418	1736.033
		(2.661)	14.861

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	1552.731	1511.418	1736.033
Profit	22.127	36.068	50.029
	1.43%	2.39%	2.88%

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	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)	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

BUSINESS DEVELOPMENT AND OPERATIONS

The Company, was incorporated on 13th September, 1994. The Company is engaged in the production of single phase electric motors for various applications. Company’s product majorly comprises of HVAC motors. The Company caters to both Domestic and Export markets. The Company is currently operating through its factory situated at Faridabad in the State of Haryana. The Company is Wholly Owned Subsidiary (WOS) of Amber Enterprises India Private Limited, holding 3642100 fully paid up equity shares of Rs. 10/- each as on 31.03.2015. Their clear Purpose to become No.1 OEM Manufacturing Company and first choice of consumers helps us to remain distinct in the eyes of consumers, retailers and suppliers.

CORPORATE INFORMATION

The Company, manufactures electric motors, was incorporated in September 1994 under the Companies Act 1956. The Company is engaged in the production of electric motors and food processors. Company’s product majorly comprises of HVAC motors (electric motors). The Company is currently operating through its factories situated at Faridabad in Haryana. Company has its registered office in as F-703, Mayurdhwaj Apartments, 60. I.P. Extension, Patparganj, Delhi-110092.

CHANGE OF REGISTERED OFFICE OF THE COMPANY WITHIN THE LOCAL LIMITS

Registered Office of the company has been shifted from “1st Floor, Mohan Dev Building, Tolstoy Marg, New Delhi -110 001, India” to the present Address w.e.f. 17.02.2015.

Registered Office of the company has been shifted from “F/703, Mayurdhwaj Apartments, 60 I.P. Extension, Patparganj, Delhi – 110 092, India” to the present Address w.e.f. 15.05.2015.

INDEX OF CAHREGS:

S. NO.	CHARGE ID	DATE OF CHARGE CREATION/MODIFICATION	CHARGE AMOUNT SECURED	CHARGE HOLDER	ADDRESS	SERVICE REQUEST NUMBER (SRN)
1	10593716	10/09/2015	150,000,000.00	DBS BANK LIMITED	CAPITOL POINT, BABA KHARAK SINGH MARG, CONNAUGHT PLACE, DELHI - 110001, INDIA	C65518565
2	10555029	08/06/2015 *	120,000,000.00	CITI BANK N.A.	JEEVAN BHARTI BUILDING, 4TH FLOOR, 124 CONNAUGHT CIRCUS, CONNAUGHT PLACE, DELHI - 110001, INDIA	C59007856
3	10533976	08/06/2015 *	250,000,000.00	HDFC BANK LIMITED	HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI -- 400013, MAHARASHTRA, INDIA	C60730991
4	10403127	02/02/2013	80,000,000.00	AXIS BANK LIMITED	2ND FLOOR, STATESMAN HOUSE, 148, BARAKHAMBA ROAD, NEW DELH - 110001, INDIA	B68158138
5	10137980	31/08/2015 *	210,000,000.00	CORPORATION BANK	BHIKAJI CAMA PLACE BRANCH, 3, ANSAL CHAMBERS-I, BHIKAJI CAMA PLACE, NEW DELHI - 110066, INDIA	C64906985

* Date of charge modification

FIXED ASSETS:

· Land

· Building

· Plant and Equipment

· Furniture and Fixtures

· Vehicles

· Computer

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.66.79
UK Pound	1	Rs.101.37
Euro	1	Rs.73.46

INFORMATION DETAILS

Information Gathered by :	DPA

Analysis Done by :	HNA

Report Prepared by :	MTN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	6
--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	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		49

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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