MIRA INFORM REPORT

Report No. :	307869
Report Date :	21.02.2015

IDENTIFICATION DETAILS

Name :	FUELCO COAL INDIA LIMITED

Registered Office :	Fulwanti Palace, 926, Adeshpande Layout, Central Avenue, Nagpur-440008, Maharashtra

Country :	India

Financials (as on) :	31.03.2014

Date of Incorporation :	10.08.2004

Com. Reg. No.:	11-147921

Capital Investment / Paid-up Capital :	Rs. 83.012 Millions

CIN No.: [Company Identification No.]	U10100MH2004PLC147921

IEC No.:	Not Available

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

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

Legal Form :	A Closely Held Public Limited liability Company

Line of Business :	Deals in indigenous, Imported Steam Coal, Wash Coal, Liaisoning for Coal and Transportation.

No. of Employees :	50 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Status :	Satisfactory

Payment Behaviour :	Usually correct

Litigation :	Clear

Comments :	Subject is an established as proprietary concern during the year 1980 with the name of “FUEL CORPORATION OF INDIA”. Later it got converted in to private limited company on 10^th August 2004 with the name of “FUELCO COAL (INDIA) LIMITED”. It is having a satisfactory track record. The rating reflects company’s established track record of business operations supported by sound financial base and fair liquidity profile of the company. Trade relations are fair. Business is active. Payment terms are reported to be usually 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 – December 31, 2014

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

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 Rating = BB+ (Suspended)
Rating Explanation	Inadequate credit quality and high credit risk
Date	02.07.2014

Rating Agency Name	CRISIL
Rating	Short Term Rating = A4+ (Suspended)
Rating Explanation	Minimal degree of safety and very high credit risk.
Date	02.07.2014

Reason for Suspended = Absence of adequate information.

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.

INFORMATION PARTED BY (GENRAL DETAILS)

Name :	Mr. Anshul Agrawal
Designation :	Director
Contact No.:	91-712-2770018
Date :	14.02.2014

LOCATIONS

Registered Office :	Fulwanti Palace, 926, Adeshpande Layout, Central Avenue, Nagpur-440008, Maharashtra, India
Tel. No.:	91-712-2770018/21/70
Mobile No.:	91-9422147332 (Mr. Anshul)
Fax No.:	91-712-2770088
E-Mail :	fuelcogroup@sify.com fuelcoindia@dataone.in
Website :	http://www.fuelcogroup.com

Corporate Office :	Fuelco House, SFA Plot No 15, Near Harihar Mandir Lakadganj, Nagpur – 440008, Maharashtra, India
Tel. No.:	91-712-2770045 / 65
Fax No.:	91-712-2770088

DIRECTORS

AS ON 30.09.2014

Name :

Mr. Navlkishore Ganpatlal Agarwal

Designation :

Managing Director

Address :

Fulwanti Palace, 926/B, Deshpande Lay out, Central Avenue, Nagpur-440008, Maharashtra, India

Date of Birth/Age :

20.07.1960

Date of Appointment :

01.10.2009

PAN No.:

AAKPA8843M

DIN No.:

00548590

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	U99999MH1994PTC076273	SHRI SHYAM AGRO PRODUCTS PRIVATE LIMITED	Director	28/01/1994	28/01/1994	-	Active	NO
2	U40100MH2004PLC147537	FUELCO POWER AND MINING LIMITED	Director	16/07/2004	16/07/2004	-	Active	NO
3	U10100MH2004PLC147921	FUELCO COAL INDIA LIMITED	Managing director	01/10/2009	10/08/2004	-	Active	NO
4	U10200MH2004PLC147922	FUELCO WASHERIES (INDIA) LIMITED	Managing director	01/10/2009	10/08/2004	-	Active	NO
5	U27100MH2004PLC147926	FUELCO ISPAT (INDIA) LIMITED	Director	11/08/2004	11/08/2004	-	Active	NO
6	U51909WB2004PTC098098	SAPHIRE MARKETING PRIVATE LIMITED	Director	28/09/2010	28/09/2010	-	Active	NO
7	U51505WB2004PTC098070	VAIRAVI ELECTRICAL PRIVATE LIMITED	Director	28/09/2010	28/09/2010	-	Active	NO
8	U51909WB1989PTC046647	SUMIT SALES AGENCY PRIVATE LIMITED	Director	16/02/2012	16/02/2012	-	Active	NO
9	U52390WB2010PTC143051	LIFELINE DEALTRADE PRIVATE LIMITED	Director	16/02/2012	16/02/2012	-	Active	NO
10	U51900WB2009PTC133588	ONKAR COMMODEAL PRIVATE LIMITED	Director	02/11/2012	02/11/2012	-	Active	NO
11	U22110WB2004PTC100744	SIDHANT PRODEV PRIVATE LIMITED	Director	02/11/2012	02/11/2012	-	Active	NO

Name :

Mr. Kamalkishore Ganpatlal Agrawal

Designation :

Director

Address :

Fulwanti Palace, 926/B, Deshpande Lay out, Central Avenue, Nagpur-440008, Maharashtra, India

Date of Birth/Age :

20.08.1955

Date of Appointment :

10.08.2004

DIN No.:

00548514

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	U99999MH1994PTC076273	SHRI SHYAM AGRO PRODUCTS PRIVATE LIMITED	Director	28/01/1994	28/01/1994	-	Active	NO
2	U40100MH2004PLC147537	FUELCO POWER AND MINING LIMITED	Director	16/07/2004	16/07/2004	-	Active	NO
3	U10200MH2004PLC147922	FUELCO WASHERIES (INDIA) LIMITED	Director	10/08/2004	10/08/2004	-	Active	NO
4	U10100MH2004PLC147921	FUELCO COAL INDIA LIMITED	Director	10/08/2004	10/08/2004	-	Active	NO
5	U27100MH2004PLC147926	FUELCO ISPAT (INDIA) LIMITED	Director	11/08/2004	11/08/2004	-	Active	NO
6	U63013MH2008PTC182418	CICAL EXPORTS PRIVATE LIMITED	Director	19/05/2008	19/05/2008	-	Active	NO
7	U26900MH2009PTC197592	FUEL CORPORATION OF INDIA PRIVATE LIMITED	Managing director	04/12/2009	04/12/2009	-	Active	NO
8	U10300MH2012PLC235770	FUELCOAL CORPORATION INDIA LIMITED	Director	14/09/2012	14/09/2012	10/05/2014	Active	NO

Name :

Mrs. Sarojdevi Navlkishore Agrawal

Designation :

Director

Address :

Fulwanti Palace, 926/B, Deshpande Lay out, Central Avenue, Nagpur-440008, Maharashtra, India

Date of Birth/Age :

10.09.1963

Date of Appointment :

01.04.2009

Pan No.:

AAKPA8851B

DIN No.:

01435420

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	U27100MH2004PLC147926	FUELCO ISPAT (INDIA) LIMITED	Director	15/02/2007	15/02/2007	-	Active	NO
2	U40100MH2004PLC147537	FUELCO POWER AND MINING LIMITED	Director	15/02/2007	15/02/2007	-	Active	NO
3	U10200MH2004PLC147922	FUELCO WASHERIES (INDIA) LIMITED	Director	15/02/2007	15/02/2007	-	Active	NO
4	U99999MH1994PTC076273	SHRI SHYAM AGRO PRODUCTS PRIVATE LIMITED	Director	15/02/2007	15/02/2007	-	Active	NO
5	U10100MH2004PLC147921	FUELCO COAL INDIA LIMITED	Whole-time director	01/04/2009	15/02/2007	-	Active	NO
6	U51505WB2004PTC098070	VAIRAVI ELECTRICAL PRIVATE LIMITED	Director	28/09/2010	28/09/2010	31/12/2012	Active	NO
7	U51909WB2004PTC098098	SAPHIRE MARKETING PRIVATE LIMITED	Director	28/09/2010	28/09/2010	31/12/2012	Active	NO
8	U52100WB2010PTC144927	VICTOR TRADECOMM PRIVATE LIMITED	Director	16/02/2012	16/02/2012	-	Active	NO
9	U52390WB2010PTC143051	LIFELINE DEALTRADE PRIVATE LIMITED	Director	16/02/2012	16/02/2012	-	Active	NO
10	U51900WB2009PTC133588	ONKAR COMMODEAL PRIVATE LIMITED	Director	02/11/2012	02/11/2012	31/12/2012	Active	NO
11	U22110WB2004PTC100744	SIDHANT PRODEV PRIVATE LIMITED	Director	02/11/2012	02/11/2012	31/12/2012	Active	NO

Name :

Mr. Satram Lokumal Keswani

Designation :

Director

Address :

House No. E 44, Sector 44, Noida-201303, Uttar Pradesh, India

Date of Birth/Age :

28.04.1932

Date of Appointment :

15.02.2007

DIN No.:

00190790

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	L85191UP1972PLC003545	KASHIPUR SUGAR MILLS LIMITED	Director	10/01/1973	10/01/1973	-	Under liquidation	NO
2	U74899DL1974PTC007533	CHEMPROJECT CONSULTING PRIVATE LIMITED	Managing director	22/11/1974	22/11/1974	-	Active	NO
3	L27109HR1980PLC010724	PRAKASH INDUSTRIES LIMITED	Director	24/09/2014	30/10/1980	-	Active	NO
4	U74899DL1974PTC007313	CHEMCON FABRICATORS (DELHI) PRIVATE LIMITED	Director	28/01/1983	28/01/1983	-	Active	NO
5	U74899DL1992PTC048649	AEN ASSOCIATES PRIVATE LIMITED	Director	06/05/1992	06/05/1992	-	Active	NO
6	U21011UR1985PLC007433	KHATEMA FIBRES LIMITED	Director	15/09/1995	15/09/1995	30/04/2013	Active	NO
7	U21012UR1988PLC009679	CHEEMA PAPERS LIMITED	Director	20/05/1996	20/05/1996	28/12/2009	Active	NO
8	L21010MH1993PLC071683	SAFFRON INDUSTRIES LIMITED	Director	09/08/2001	09/08/2001	01/11/2009	Active	NO
9	U40100MH2004PLC147537	FUELCO POWER AND MINING LIMITED	Director	15/02/2007	15/02/2007	-	Active	NO
10	U27100MH2004PLC147926	FUELCO ISPAT (INDIA) LIMITED	Director	15/02/2007	15/02/2007	-	Active	NO
11	U10100MH2004PLC147921	FUELCO COAL INDIA LIMITED	Director	15/02/2007	15/02/2007	-	Active	NO
12	U10200MH2004PLC147922	FUELCO WASHERIES (INDIA) LIMITED	Director	15/02/2007	15/02/2007	-	Active	NO
13	L72100DL1972PLC005971	PERFECTPAC LIMITED	Director	29/09/2014	30/01/2008	-	Active	NO
14	U26900DL2014FTC268712	G.R. TECHNOLOGIES INDIA PRIVATE LIMITED	Director	09/07/2014	09/07/2014	01/09/2014	Active	NO

Name :

Mr. Anshul Agrawal

Designation :

Director

Address :

Fulwanti Palace, 926/B, Deshpande Lay out, Central Avenue, Nagpur-440008, Maharashtra, India

Date of Birth/Age :

30.12.1990

Date of Appointment :

01.10.2010

DIN No,:

03273673

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	U27100MH2004PLC147926	FUELCO ISPAT (INDIA) LIMITED	Director	01/10/2010	01/10/2010	-	Active	NO
2	U99999MH1994PTC076273	SHRI SHYAM AGRO PRODUCTS PRIVATE LIMITED	Director	01/10/2010	01/10/2010	-	Active	NO
3	U10200MH2004PLC147922	FUELCO WASHERIES (INDIA) LIMITED	Director	01/10/2010	01/10/2010	-	Active	NO
4	U40100MH2004PLC147537	FUELCO POWER AND MINING LIMITED	Director	01/10/2010	01/10/2010	-	Active	NO
5	U10100MH2004PLC147921	FUELCO COAL INDIA LIMITED	Director	01/10/2010	01/10/2010	-	Active	NO
6	U51909WB1989PTC046647	SUMIT SALES AGENCY PRIVATE LIMITED	Director	16/02/2012	16/02/2012	-	Active	NO
7	U52100WB2010PTC144927	VICTOR TRADECOMM PRIVATE LIMITED	Director	16/02/2012	16/02/2012	-	Active	NO
8	U51900WB2009PTC133588	ONKAR COMMODEAL PRIVATE LIMITED	Director	31/12/2012	31/12/2012	-	Active	NO
9	U51909WB2004PTC098098	SAPHIRE MARKETING PRIVATE LIMITED	Director	31/12/2012	31/12/2012	-	Active	NO
10	U22110WB2004PTC100744	SIDHANT PRODEV PRIVATE LIMITED	Director	31/12/2012	31/12/2012	-	Active	NO
11	U51505WB2004PTC098070	VAIRAVI ELECTRICAL PRIVATE LIMITED	Director	31/12/2012	31/12/2012	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2014

Names of Shareholders		No. of Shares
Navalkishor Agrawal		1250600
Kamalkishor Agrawal		100
Jugalkishor Agrawal		100
Anshul Agrawal		4600
Chhaya Devi Agrawal		100
Saroj Agrawal		267500
Savita Devi Agrawal		100
Navalkishor agrawal(Shree Shyam Coal Services- Proprietor		1300000
Sarojdevi Agrawal (Proprietor Anshul Infrastructure)		1000000
Onkar Commodeal Private Limited		2961450
Saphire Marketing Private limited		1516600
Total		8301150

As on 30.09.2014

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Bodies corporate	53.94
Directors or relatives of Directors	46.06
Total	100.00

BUSINESS DETAILS

Line of Business :

Deals in indigenous, Imported Steam Coal, Wash Coal, Liaisoning for Coal and Transportation.

Products :

Item Code No. (ITC Code)	Product Description
27011200	Bitumonous Coal

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Not Available

Imports :

Not Available

Terms :

Selling :

Cash, Cheque and Credit

Purchasing :

Cash, Cheque and Credit

PRODUCTION STATUS : Not Available

GENERAL INFORMATION

Suppliers :

Reference :	Western Coalfields Limited, Nagpur
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 :	Ballarpur Industries Limited, Delhi
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 :

50 (Approximately)

Bankers :

Banker Name	State Bank of India
Branch Address	Sevasadan Branch, Nagpur, Maharashtra, India
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

Facilities :

SECURED LOANS	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
LONG TERM BORROWINGS
Rupee term loans from banks	47.445	20.210

SHORT TERM BORROWINGS
Working capital loans from banks	225.257	189.605
Total	272.702	209.815


Financial Institution :	Tata Motors Finance Limited, C/O. Tata Motors Limited, 3rd Floor, Nanavati Mahalaya, 18, Homi Mody Street, Mumbai - 400001, Maharashtra, India

Auditors :
Name :	Dhoot Bagadia and Company Chartered Accountants
Address :	Fawara Chowk, Gandhibag, Nagpur-440002, Maharashtra, India
PAN No.:	ABBPB5772E

Memberships :	Not Available

Collaborators :	Not Available

Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives	Fuelco Ispat (India) Limited Anshul Infrastucture Fuelco Power And Mining Limited Fuelco Washeries (India) Limited Shri Shyam Agro Products Private Limited

Subsidiary :	Saphire Marketing Private Limited

CAPITAL STRUCTURE

As on 30.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount

11000000	Equity Shares	Rs.10/- each	Rs.110.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount

8301150	Equity Shares	Rs.10/- each	Rs. 83.012 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	83.012	60.000	60.000
(b) Reserves & Surplus	166.486	106.582	96.964
(c) Money received against share warrants	0.000	0.000	0.000

(2) Share Application money pending allotment	0.000	23.539	0.000
Total Shareholders’ Funds (1) + (2)	249.498	190.121	156.964

(3) Non-Current Liabilities
(a) long-term borrowings	119.478	27.347	5.247
(b) Deferred tax liabilities (Net)	3.571	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)	123.049	27.347	5.247

(4) Current Liabilities
(a) Short term borrowings	225.257	189.605	201.570
(b) Trade payables	433.750	592.595	316.936
(c) Other current liabilities	48.986	16.575	6.872
(d) Short-term provisions	0.570	2.463	0.756
Total Current Liabilities (4)	708.563	801.238	526.134

TOTAL	1081.110	1018.706	688.345

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	148.085	30.066	10.412
(ii) Intangible Assets	0.000	0.000	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	6.429	6.429	6.430
(c) Deferred tax assets (net)	0.000	0.331	0.030
(d) Long-term Loan and Advances	0.000	0.000	1.937
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	154.514	36.826	18.809

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	96.984	161.121	156.486
(c) Trade receivables	587.477	522.145	326.501
(d) Cash and cash equivalents	91.449	123.409	22.964
(e) Short-term loans and advances	135.166	170.833	163.529
(f) Other current assets	15.520	4.372	0.056
Total Current Assets	926.596	981.880	669.536

TOTAL	1081.110	1018.706	688.345

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	1736.602	1581.769	1500.836
	Other Income	9.079	3.045	1.579
	TOTAL (A)	1745.681	1584.814	1502.415

Less	EXPENSES
	Purchases of Stock-in-Trade	1329.223	1157.817	1416.034
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	64.137	(4.634)	(147.044)
	Employees benefits expense	5.459	4.858	4.812
	Other expenses	12.895	11.471	9.523
	Expenditure on production, transportation and other expenditure pertaining to E&P activities	224.969	345.697	176.642
	TOTAL (B)	1636.683	1515.209	1459.967

Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	108.998	69.605	42.448

Less	FINANCIAL EXPENSES (D)	74.585	44.473	32.811

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	34.413	25.132	9.637

Less/ Add	DEPRECIATION/ AMORTISATION (F)	11.252	10.684	0.742

	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	23.161	14.448	8.895

Less	TAX (H)	7.315	4.830	2.605

	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	15.846	9.618	6.290

	Earnings / (Loss) Per Share (Rs.)	1.60	1.05	1.05

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
PARTICULARS
Net Profit Margin (PAT/ Sales)	(%)	0.91	0.61	0.42

Operating Profit Margin (PBDIT/Sales)	(%)	6.28	4.40	2.83

Return on Total Assets (PBT/Total Assets}	(%)	2.16	1.43	1.30

Return on Investment (ROI) (PBT/Networth)		0.09	0.08	0.06

Debt Equity Ratio (Total Debt /Networth)		1.38	1.14	1.32

Current Ratio (Current Asset/Current Liability)		1.31	1.23	1.27

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	60.000	60.000	83.012
Reserves & Surplus	96.964	106.582	166.486
(2) Share Application money pending allotment	0.000	23.539	0.000
Net worth	156.964	190.121	249.498

long-term borrowings	5.247	27.347	119.478
Short term borrowings	201.570	189.605	225.257
Total borrowings	206.817	216.952	344.735
Debt/Equity ratio	1.318	1.141	1.382

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	1500.836	1581.769	1736.602
		5.393	9.789

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	1500.836	1581.769	1736.602
Profit	6.290	9.618	15.846
	0.42%	0.61%	0.91%

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	Yes
9]	Name of person contacted	Yes
10]	Designation of contact person	Yes
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	Yes
18]	Major customers	Yes
19]	Payments terms	Yes
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	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10480544	31/01/2014	2,650,000.00	TATA MOTORS FINANCE LIMITED	C/O. TATA MOTORS LIMITED, 3RD FLOOR, NANAVATI MAHALAYA, 18, HOMI MODY STREET, MUMBAI, MAHARASHTRA - 400001, INDIA	B97569362
2	10480552	31/01/2014	2,650,000.00	TATA MOTORS FINANCE LIMITED	C/O. TATA MOTORS LIMITED, 3RD FLOOR, NANAVATI MA HALAYA, 18, HOMI MODY STREET, MUMBAI, MAHARASHTRA - 400001, INDIA	B97572333
3	10480553	31/01/2014	2,650,000.00	TATA MOTORS FINANCE LIMITED	C/O. TATA MOTORS LIMITED, 3RD FLOOR, NANAVATI MAHALAYA, 18, HOMI MODY STREET, MUMBAI, MAHARASHTRA - 400001, INDIA	B97572713
4	10480556	31/01/2014	2,650,000.00	TATA MOTOR FINANCE LIMITED	5TH FLOOR, NARANG TOWERS, CIVIL LINES, NAGPUR, MAHARASHTRA - 440001, INDIA	B97573794
5	10480568	31/01/2014	2,650,000.00	TATA MOTORS FINANCE LIMITED	C/O. TATA MOTORS LIMITED, 3RD FLOOR, NANAVATI MA HALAYA, 18, HOMI MODY STREET, MUMBAI, MAHARASHTRA - 400001, INDIA	B97578108
6	10480569	31/01/2014	2,650,000.00	TATA MOTORS FINANCE LIMITED	C/O. TATA MOTORS LIMITED, 3RD FLOOR, NANAVATI MA HALAYA, 18, HOMI MODY STREET, MUMBAI, MAHARASHTRA - 400001, INDIA	B97578264
7	10480482	29/01/2014	2,500,000.00	TATA MOTORS FINANCE LIMITED	C/O. TATA MOTORS LIMITED, 3RD FLOOR, NANAVATI MA HALAYA, 18, HOMI MODY STREET, MUMBAI, MAHARASHTRA - 400001, INDIA	B97554745
8	10480485	29/01/2014	2,500,000.00	TATA MOTORS FINANCE LIMITED	C/O. TATA MOTORS LIMITED, 3RD FLOOR, NANAVATI MA HALAYA, 18, HOMI MODY STREET, MUMBAI, MAHARASHTRA - 400001, INDIA	B97555247
9	10480491	29/01/2014	2,500,000.00	TATA MOTORS FINANCE LIMITED	C/O. TATA MOTORS LIMITED, 3RD FLOOR, NANAVATI MA HALAYA, 18, HOMI MODY STREET, MUMBAI, MAHARASHTRA - 400001, INDIA	B97556229
10	10480545	29/01/2014	2,500,000.00	TATA MOTORS FINANCE LIMITED	C/O. TATA MOTORS LIMITED, 3RD FLOOR, NANAVATI MA HALAYA, 18, HOMI MODY STREET, MUMBAI, MAHARASHTRA - 400001, INDIA	B97557201

* Date of charge modification

UNSECURED LOANS

PARTICULAR	31.03.2014 (Rs. in Millions)	31.03.2013 (Rs. in Millions)
LONG TERM BORROWINGS
Loans and advances from related parties	57.033	6.206
Other loans and advances	15.000	0.931
Total	72.033	7.137

FIXED ASSETS

Land
Buildings
Plant and equipment
Furniture and fixtures
Vehicles
Motor vehicles
Office equipment
Computer equipments

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

Information Gathered by :	DIP

Analysis Done by :	KAR

Report Prepared by :	TRU

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	5
--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		45

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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