MIRA INFORM REPORT

Report No. :	309274
Report Date :	21.02.2015

IDENTIFICATION DETAILS

Name :	ALLENGERS MEDICAL SYSTEMS LIMITED
Formerly Known As :	ALLENGERS MEDICAL PRODUCTS PRIVATE LIMITED
Registered Office :	Unit No. 202, Ansal’s Classique Tower, Plot No 1, J – Block, Rajouri Garden, New Delhi – 110027
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	30.07.1992
Com. Reg. No.:	55-154688
Capital Investment / Paid-up Capital :	Rs.121.840 Millions
CIN No.: [Company Identification No.]	U33111DL1992PLC154688
TIN No.:	Not Available
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	PTLA10768C
PAN No.: [Permanent Account No.]	AABCA2332H
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of X-Rays Based Medical Equipment’s.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (54)

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

Maximum Credit Limit :	USD 2090000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a well-established company having fine track record. The rating reflects established market position of AMSL in the domestic X-Ray based medical equipment industry supported by decent financial base and adequate margins of the company. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitment. The company can be considered good for normal business dealings at usual trade terms and conditions.

NOTES:

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

ECGC Country Risk Classification List – December 31, 2014

Country Name	Previous Rating (30.09.2014)	Current Rating (31.12.2014)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	Long Term Rating = A-
Rating Explanation	Adequate degree of safety and low credit risk
Date	31.05.2014

Rating Agency Name	CRISIL
Rating	Short Term Rating = A2+
Rating Explanation	Strong degree of safety and low credit risk
Date	31.05.2014

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

LOCATIONS

Registered Office/ Factory 1 :	Unit No. 202, Ansal’s Classique Tower, Plot No 1, J – Block, Rajouri Garden, New Delhi – 110027, India
Tel. No.:	91-11-25166712 / 32536567
Fax No.:	91-11-25432088
E-Mail :	allenders@satyam.net.in exports@allengers.net allengers@sify.com yp.sharma@allengers.net allengers.ho@allengers.net sales.enquiry@allengers.net
Website :	http://www.allengers.com http://www.allengers.net
Area :	3000 Sq. Ft
Location :	Owned
Head Office / Corporate Office :	S.C.O. 212-214, Sector 34-A, Chandigarh – 160 022, India
Tel. No.:	91-172-3012280-84/ 3012287/ 3012285/ 2725695
Fax No.:	91-172-2621912/ 2621913 / 2708031
E-Mail :	allengers.ho@allengers.net
Area :	16000 Sq. Ft
Location :	Owned
Factory 2 :	Bankapur, Mubarakpur Road, Derabassi, Mohali – 140507, Punjab, India
Tel. No.:	91-1762-282253 / 280253
Fax No.:	91-1762-285156
Area :	45000 Sq. Mtr
Location :	Owned
Branch Office :	Located at Ahmedabad Bangalore Bhopal Bhubaneshwar Chennai Guwahati Jaipur Jodhpur Kolkata Lucknow Mumbai Nagpur New Delhi Patna Secunderabad

DIRECTORS

As on 26.09.2014

Name :

Mr. Suresh Sharma

Designation :

Managing Director

Address :

H. No. 1802, Sector 34 D, Chandigarh, India

Date of Birth/Age :

14.10.1957

Qualification :

Engineering

Date of Appointment :

01.04.2014

DIN No.:

00128139

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	U33111DL1992PLC154688	ALLENGERS MEDICAL SYSTEMS LIMITED	Managing director	01/04/2014	30/07/1992	-	Active	NO
2	U55101CH1998PTC021577	CITY CENTRE HOTELS PRIVATE LIMITED	Director	07/05/2003	07/05/2003	-	Active	NO
3	U70101CH2002PTC025083	SRI KESHAV REAL ESTATES PRIVATE LIMITED	Director	22/04/2004	22/04/2004	-	Active	NO
4	U24239DL2004PTC129158	ALLENGERS GLOBAL HEALTHCARE PRIVATE LIMITED	Additional director	01/04/2013	17/09/2004	20/08/2013	Active	NO
5	U27107CH1991PTC011715	EROS FABRICATORS PRIVATE LIMITED	Director	03/09/2012	09/08/2012	-	Active	NO

Name :

Mr. Sanjiv Kumar Goel

Designation :

Director

Address :

H. No. 137, Sector 4, Mansa Devi Complex, Panchkula - 134114, Haryana, India

Date of Birth/Age :

05.09.1955

Date of Appointment :

30.09.2011

DIN No.:

00053490

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	U67120PB1994PLC014473	ZOOM MERCANTILE AND FINANCE LIMITED	Director	22/01/1995	22/01/1995	-	Active	NO
2	U70100HR2005PTC048599	BHAVYA REALTORS PRIVATE LIMITED	Director	30/09/2008	19/01/2008	27/06/2011	Active	NO
3	U24219CH1996PTC018044	VENUS PESTICIDES PRIVATE LIMITED	Additional director	28/11/2008	28/11/2008	10/03/2009	Active	NO
4	U45209CH2010PTC032207	MARS HOMELAND PRIVATE LIMITED	Director	05/05/2010	05/05/2010	-	Active	NO
5	U33111DL1992PLC154688	ALLENGERS MEDICAL SYSTEMS LIMITED	Director	30/09/2011	21/03/2011	-	Active	NO

Name :

Mr. Sanjeev Kumar Marjara

Designation :

Whole Time Director

Address :

Opposite Narankari Bhawan, Sugar Mill Road, Morinda, District Ropar, Punjab, India

Date of Birth/Age :

30.12.1973

Qualification :

Engineering

Date of Appointment :

01.04.2014

DIN No.:

00128144

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	U51420PB1998PTC021641	AWING STEEL FABRICATORS PRIVATE LIMITED	Director	07/10/2002	07/10/2002	-	Amalgamated	NO
2	U33111DL1992PLC154688	ALLENGERS MEDICAL SYSTEMS LIMITED	Whole-time director	01/04/2014	01/01/2005	-	Active	NO

Name :

Mr. Raman Kumar Narang

Designation :

Whole Time Director

Address :

C – 173, Malviya Nagar, Jaipur – 302017, Rajasthan, India

Date of Birth/Age :

01.11.1952

Date of Appointment :

01.04.2014

DIN No.:

00500953

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	U34300RJ1998PTC014901	ANUDEEP TECHNOCRATS PRIVATE LIMITED	Director	17/08/1998	17/08/1998	-	Active	NO
2	U33111DL1992PLC154688	ALLENGERS MEDICAL SYSTEMS LIMITED	Whole-time director	01/04/2014	26/06/2010	-	Active	NO

Name :

Mr. Rajinder Singh Kanwar

Designation :

Whole Time Director

Address :

Kanwar Complex, Nalagarh Road, Pinjore, Pachkula, Haryana, India

Date of Birth/Age :

03.09.1966

Qualification :

Engineering

Date of Appointment :

01.04.2014

DIN No.:

00686742

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	U33111DL1992PLC154688	ALLENGERS MEDICAL SYSTEMS LIMITED	Whole-time director	01/04/2014	01/01/2005	-	Active	NO
2	U24239DL2004PTC129158	ALLENGERS GLOBAL HEALTHCARE PRIVATE LIMITED	Managing director	01/12/2011	08/08/2005	-	Active	NO

Name :

Mr. Virinder Singh

Designation :

Director

Address :

# 1611, Sector 36d, Chandigarh - 160036, India

Date of Birth/Age :

20.05.1948

Date of Appointment :

16.12.2013

DIN No.:

01597989

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	U32309PB1977SGC003715	PUNJAB RECORDERS LIMITED	Nominee director	09/12/1991	09/12/1991	-	Dormant	NO
2	U33111DL1992PLC154688	ALLENGERS MEDICAL SYSTEMS LIMITED	Director	26/09/2014	16/12/2013	-	Active	NO

Name :

Mr. Gurdial Singh

Designation :

Director

Address :

House No. 1052, Sector 22-B, Chandigarh - 160022, India

Date of Birth/Age :

11.03.1950

Date of Appointment :

31.07.2013

DIN No.:

06640482

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	U33111DL1992PLC154688	ALLENGERS MEDICAL SYSTEMS LIMITED	Director	30/09/2013	31/07/2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Pardeep Singh Negi
Designation :	Secretary
Address :	H.No. 157, Phase 5, Mohali - 160055, Punjab, India
Date of Birth/Age :	07.01.1985
Date of Appointment :	12.01.2009
PAN No.:	AHUPN7181L
Name :	Mr. Dheeraj Aggarwal
Designation :	Chief Executive Officer
Address :	# 262, Sector 8, Panchkula - 134109, Haryana, India
Date of Appointment :	01.09.2014
PAN No.:	AANPA6072B

MAJOR SHAREHOLDERS

As on 26.09.2014

Names of Shareholders	No. of Shares
Suresh Sharma	8297000
Samidha Sharma	1440000
M.S.Sharma	12500
Satish Sharma	5000
Lakshva Research and Development Private Limited, India	230000
Sri Keshav Real Estate Private Limited, India	20000
Awing Steel Fabricators Private Limited, India	485000
Rajinder Singh Kanwar	10000
Sanjeev Kumar	15000
Suresh Sharma and Sons (HUF)	655000
Rishab Sharma	105410
Neelam Sharma	30210
Wampum Finance Private Limited, India	300000
Hisam Singh	5000
Krishan Chand Sharma	5000
Ateet Raj Awasthi	5000
Vikram Verma	5000
Sanjeev K Sharma	5000
Ajay Kamboj	5000
Ashok Bhatti	5000
Sanjay Paul Mahalwal	5000
Prabir Kar	5000
Yashoudey Jain	5000
Rajeev Kumar Dubey	5000
Rajesh Kumar Sharma	3750
Sanjeev Puri	2500
Roohi Puri	2500
Sanjeev Kumar Grover	2500
Sunil Gautam	2500
Rajiv Kumar Tiwari	2500
Ashu Goel	2500
Rakesh Kumar Bhatt	1500
Yash Pal Sharma	750
Ram Kishan Sharma	500
Surendra Singh Sharma	1250
Sanjeev Kumar	1100
City Centre Hotels Private Limited, Chandigarh, India	500000
Total	12183970

Equity Share Break up (Percentage of Total Equity)

As on 26.09.2014

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	0.25
Bodies corporate	12.60
Directors or relatives of Directors	86.51
Other top fifty shareholders	0.64
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of X-Rays Based Medical Equipment’s.

Products :

Product Description	Item Code No. (ITC Code)
X-Rays Machines	90221490

Brand Names :

--

Agencies Held :

--

Exports :

Not Available

Imports :

Not Available

Terms :

Selling :

Not Available

Purchasing :

Not Available

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

Not Available

Bankers :

• Citi Bank, Citi Markets and Banking, Ground Floor, Ludhiana Stock Exchange Building, Ludhiana - 141001, Punjab, India
• ICICI Bank Limited, Landmark Race Cource Circle, Alkapuri, Baroda-390015, Gujarat, India
• Punjab National Bank, S. C. F. 1/2/3, Sector 28 C, Chandigarh – 160028, India

Tel No.: 0172-2650778/, 2656099

• Centurion Bank Limited, Chandigarh, India
• HDFC Bank, Chandigarh Branch
• Oriental Bank of Commerce, Chandigarh, India

Facilities :

SECURED LOANS	31.03.2014 Rs. In Millions	31.03.2013 Rs. In Millions
LONG TERM BORROWINGS
Loans taken for vehicles	7.465	10.321
SHORT TERM BORROWINGS
Loans repayable on demand from banks	225.631	183.132
Total	233.096	193.453

Auditors :
Name :	Kansal Singla and Associates Chartered Accountants
Address :	503-04, Rattan Jyoti, 18, Rajendra Place, New Delhi – 110008, India
Tel. No.:	91-11-41538010
Fax No.:	91-11-41538011
E-Mail :	cakansalsingla@gmail.com
PAN No.:	AAAFK9144R
Memberships :	--
Collaborators :	--
Subsidiary Company :	Allengers Medical Systems Africa Pty Limited

CAPITAL STRUCTURE

As on 26.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
20000000	Equity Shares	Rs.10/- each	Rs.200.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
12183970	Equity Shares	Rs.10/- each	Rs.121.840 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

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	121.840	121.840	121.840
(b) Reserves & Surplus	610.154	444.776	322.136
(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)	731.994	566.616	443.976
(3) Non-Current Liabilities
(a) long-term borrowings	7.465	10.321	0.000
(b) Deferred tax liabilities (Net)	10.804	9.046	8.918
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	4.891	6.680	0.000
Total Non-current Liabilities (3)	23.160	26.047	8.918
(4) Current Liabilities
(a) Short term borrowings	225.631	183.132	114.358
(b) Trade payables	180.060	176.556	158.689
(c) Other current liabilities	170.335	130.404	138.452
(d) Short-term provisions	45.917	33.869	21.811
Total Current Liabilities (4)	621.943	523.961	433.310
TOTAL	1,377.097	1,116.624	886.204
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	128.648	116.852	102.875
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	2.311	0.000	2.446
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	9.827	6.757	0.487
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	32.250	0.383	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	173.036	123.992	105.808
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	404.663	416.974	232.570
(c) Trade receivables	668.909	441.846	420.906
(d) Cash and cash equivalents	34.418	19.822	34.009
(e) Short-term loans and advances	96.071	113.990	92.911
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	1,204.061	992.632	780.396
TOTAL	1,377.097	1,116.624	886.204

PROFIT & LOSS ACCOUNT

	PARTICULARS			31.03.2014	31.03.2013	31.03.2012
	SALES
		Income		2,471.229	1,795.718	1,488.481
		Other Income		7.664	6.841	5.398
		TOTAL (A)		2,478.893	1,802.559	1,493.879
Less	EXPENSES
		Cost of Materials Consumed		1,542.178	1,214.229	966.415
		Changes in inventories of finished goods, work-in-progress and Stock-in-Trade		51.810	(69.742)	(18.946)
		Employees benefits expense		272.117	211.039	167.341
		Other expenses		301.843	246.674	221.837
		Prior Period Items		0.000	0.000	(0.133)
		TOTAL (B)		2,167.948	1,602.200	1,336.514
	PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)			310.945	200.359	157.365
Less	FINANCIAL EXPENSES (D)			27.250	20.353	15.103
	PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			283.695	180.006	142.262
Less	DEPRECIATION/ AMORTISATION (F)			19.218	14.128	11.789
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)			264.477	165.878	130.473
Less	TAX (H)			84.845	29.043	25.857
	PROFIT/(LOSS) AFTER TAX (G-H) (I)			179.632	136.835	104.616
	EARNINGS IN FOREIGN CURRENCY
			Earnings on interest	2.180	1.351	1.004
			Other Income	2.446	2.349	1.247
	TOTAL EARNINGS			4.626	3.700	2.251
	Earnings / (Loss) Per Share (Rs.)			14.74	11.24	8.61

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/Sales)	(%)	7.27	7.62	7.03
Operating Profit Margin (PBDIT/Sales)	(%)	12.58	11.16	10.57
Return on Total Assets (PBT/Total Assets}	(%)	19.38	14.95	14.77
Return on Investment (ROI) (PBT/Networth)		0.36	0.29	0.29
Debt Equity Ratio (Total Debt /Networth)		0.32	0.34	0.26
Current Ratio (Current Asset/Current Liability)		1.94	1.89	1.80

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Share Capital	121.840	121.840	121.840
Reserves & Surplus	322.136	444.776	610.154
Share Application money pending allotment	0.000	0.000	0.000
Net worth	443.976	566.616	731.994
Long Term borrowings	0.000	10.321	7.465
Short Term borrowings	114.358	183.132	225.631
Total borrowings	114.358	193.453	233.096
Debt/Equity ratio	0.258	0.341	0.318

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Sales	1,488.481	1,795.718	2,471.229
		20.641	37.618

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	Rs. In Millions	Rs. In Millions	Rs. In Millions
Sales	1,488.481	1,795.718	2,471.229
Profit	104.616	136.835	179.632
	7.03%	7.62%	7.27%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	-----------
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	----------
22]	Litigations that the firm / promoter involved in	----------
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	----------
26]	Buyer visit details	----------
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

FINANCIAL RESULTS

The turnover of the Company has increased from during the immediately Rs.1734.578 Millions preceding financial year 2012-13 to Rs.2379.294 Millions during the financial year 2013-14 thus showing an increase of 37.17%.The Company recorded a stand-alone profit after tax of Rs.179.632 Millions, an increase of 31.22% from Rs.136.895 Millions last year. The Company has been consistently working on cost reduction, revenue maximization and productivity improvement through systematic application of new technology.

INDEX OF CHARGE:

Sr. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10538188	16/12/2014	650,000.00	Volkswagen Finance Private Limited	3rd Floor, Wing - A, Silver Utopia, Cardinal Gracious Road, Chakala, Andheri, Mumbai, Maharashtra -  400099, India	C37804580
2	10525708	30/09/2014	2,132,500.00	HDFC Bank Limited	HDFC Bank Housesenapati Bapat Marg, Lower Parel W, Mumbai, Maharashtra - 400013, India	C29555828
3	10513604	13/05/2014	50,000,000.00	HDFC Bank Limited	HDFC Bank Housesenapati Bapat Marg, Lower Parel W, Mumbai, Maharashtra - 400013, India	C15510860
4	10494939	03/05/2014	3,070,000.00	HDFC Bank Limited	HDFC Bank Housesenapati Bapat Marg, Lower Parel W, Mumbai, Maharashtra - 400013, India	C04606653
5	10486952	21/03/2014	2,294,000.00	HDFC Bank Limited	HDFC Bank Housesenapati Bapat Marg, Lower Parel W, Mumbai, Maharashtra - 400013, India	C01170208
6	10458184	25/09/2013	3,025,000.00	ICICI Bank Limited	Landmarkrace Cource Circle, Alkapuri, Baroda, Gujarat - 390015, India	B88773148
7	10434859	28/06/2013	1,130,000.00	HDFC Bank Limited	HDFC Bank Housesenapati Bapat Marg, Lower Parel W, Mumbai, Maharashtra - 400013, India	B78750312
8	10425749	17/04/2013	900,000.00	HDFC Bank Limited	HDFC Bank Housesenapati Bapat Marg, Lower Parel W, Mumbai, Maharashtra - 400013, India	B75143289
9	10422056	22/03/2013	1,071,000.00	HDFC Bank Limited	HDFC Bank Housesenapati Bapat Marg, Lower Parel W, Mumbai, Maharashtra - 400013, India	B73836504
10	10412161	20/02/2013	745,000.00	HDFC Bank Limited	HDFC Bank Housesenapati Bapat Marg, Lower Parel W, Mumbai, Maharashtra - 400013, India	B70891452
11	10399958	18/12/2012	1,900,000.00	HDFC Bank Limited	HDFC Bank Housesenapati Bapat Marg, Lower Parel W, Mumbai, Maharashtra - 400013, India	B66777293
12	10399962	13/12/2012	1,090,000.00	HDFC Bank Limited	HDFC Bank Housesenapati Bapat Marg, Lower Parel W, Mumbai, Maharashtra - 400013, India	B66778010
13	10259614	19/02/2014 *	240,000,000.00	Citibank N.A	Jeevan Bharti Building, 4th Floor, 124, Connaught Circus, Connaught Place, New Delhi, Delhi - 110001, India	B98543929
14	80015715	13/02/2014 *	50,000,000.00	Punjab National Bank	S.C.F. 1-2-3, Sector 28 C, Chandigarh, Chandigarh  - 160028, India	C00501387
15	90177732	28/09/2012 *	60,000,000.00	Punjab National Bank	S.C.F. 1-2-3, Sector 28 C, Chandigarh, Chandigarh  - 160028, India	B60528486
16	90179817	13/02/2014 *	220,000,000.00	Punjab National Bank	S.C.F. 1-2-3, Sector 28 C, Chandigarh, Chandigarh  - 160028, India	C00500421
17	90177513	13/02/2014 *	110,000,000.00	Punjab National Bank	S.C.F. 1-2-3, Sector 28 C, Chandigarh, Chandigarh  - 160028, India	C00502021

*Date of modification Charges

FIXED ASSETS:

· Land

· Building

· Plant and Machinery

· Computer

· Vehicles

· Furniture and Fixture

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.62.26
UK Pound	1	Rs.96.01
Euro	1	Rs.70.72

INFORMATION DETAILS

Analysis Done by :	KAR
Report Prepared by :	VNT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	6
--PROFITABILITY	1~10	6
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	6
--RESERVES	1~10	6
--CREDIT LINES	1~10	6
--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		54

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.