MIRA INFORM REPORT

Report No. :	304037
Report Date :	21.01.2015

IDENTIFICATION DETAILS

Name :	DATC (INDIA) PRIVATE LIMITED (w.e.f. 20.07.2006)
Formerly Known As :	DRILL TOOLS (INDIA) PRIVATE LIMITED
Registered Office :	No.1, Kshitij Apartment Road, No.3, Dhanukar Colony, Kothrud, Pune – 411 038, Maharashtra
Country :	India
Financials (as on) :	31.03.2013
Date of Incorporation :	03.11.2004
Com. Reg. No.:	25-019902
Capital Investment / Paid-up Capital :	Rs.79.600 millions
CIN No.: [Company Identification No.]	U28932PN2004PTC019902
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AACCD0817H
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in manufacturing, exporting and importing of drilling consumables such as Drilling Consumables, Extension Rod, Extension Drill Rods, Drill Steel Rods, Core Barrels for the geotechnical industry.
No. of Employees :	45 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (27)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 202000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Not Available
Comments :	Subject is an established company having moderate track record. Management of the company has failed to file its latest financial for the year 2014 with the Government Department. As per available financial of 2013, there seems accumulated loss recorded by the company. However, trade relations are fair. Business is active. Payment terms are slow but correct. The company can be considered for business dealings with some caution.

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 – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
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

NOT AVAILABLE

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

Name :	Mr. Londe M.G.
Designation :	Assistant General Manager – Finance
Contact No.:	91-8380016847
Date :	19.01.2015

LOCATIONS

Registered Office :	No.1, Kshitij Apartment Road, No.3, Dhanukar Colony, Kothrud, Pune – 411 038, Maharashtra, India
Tel. No. :	Not Available
Mobile No. :	91-8380016847 (Mr. Londe M.G.)
Fax No. :	Not Available
E-Mail :	sharad2025@gmail.com
Location :	Rented
Factory :	D-77, M.I.D.C. Nagar, Manmad Road, Ahmednagar – 414 111, Maharashtra, India
Tel. No.:	91-241-2778341
Location :	Leased

DIRECTORS

AS ON 28.06.2013

Name :

Sherwin Savio Joseph Nazareth

Designation :

Director

Address :

221, Mont Blanc, 22^nd Floor, August Kranti Marg, Kemps Corner, Mumbai – 400 036, Maharashtra, India

Date of Birth/Age :

25.04.1974

Date of Appointment :

03.11.2004

DIN No. :

00095168**

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	U29193MH1980PTC022128	MONSHER FIRE CONTROLS PRIVATE LIMITED	Director	29/01/2001	29/01/2001	-	Active	NO
2	U74999MH2001PTC130861	MONSHER FIRE PROTECTION SYSTEMS PRIVATE LIMITED	Director	14/02/2001	14/02/2001	-	Active	NO
3	U29193MH2003PTC140100	MONSHER (INDIA) SAFETY EQUIPMENTS PRIVATE LIMITED	Director	23/04/2003	23/04/2003	-	Active	NO
4	U28932PN2004PTC019902	DATC (INDIA) PRIVATE LIMITED	Director	03/11/2004	03/11/2004	-	Active	NO
5	U74900MH2008PTC184228	AMBADEVI GREEN INDUSTRIES AND INFRASTRUCTURE PRIVATE LIMITED	Director	02/07/2008	02/07/2008	28/04/2011	Active	NO
6	U70102MH2010PTC201431	SHERWIN REALTY PRIVATE LIMITED	Director	30/03/2010	30/03/2010	-	Active	NO
7	U70102MH2011PTC221872	Sherwin One Realty Private Limited	Director	11/09/2011	11/09/2011	-	Active	NO

Name :

Mr. Robert Lechat Rene

Designation :

Director

Address :

10 Rue Du General, Moncey, Moncey, 28570, France

Date of Birth/Age :

28.04.1969

Date of Appointment :

29.09.2008

DIN No. :

00559360

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	U28932PN2004PTC019902	DATC (INDIA) PRIVATE LIMITED	Director	29/09/2008	12/07/2006	-	Active	NO

Name :

Mr. Karbhari Mathuji Bhingare

Designation :

Director

Address :

20/21, Raghav Shrinath Colony, Rasane Nagar, Savedi, Ahmednagar – 414 003, Maharashtra, India

Date of Birth/Age :

01.06.1954

Date of Appointment :

28.06.2012

DIN No. :

01234180

PAN No.:

ABDPB2018D

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	U27310PN1993PTC072671	SIDDHI FORGE PRIVATE LIMITED	Director	02/07/1993	02/07/1993	-	Active	NO
2	U28910PN2005PTC021091	SHREE SAI FORGE PRIVATE LIMITED	Director	02/08/2005	02/08/2005	-	Active	NO
3	U29220PN2009PTC133984	SIDDHI PRECISION COMPONENTS AND ACCESSORIES PRIVATE LIMITED	Director	19/05/2009	19/05/2009	-	Active	NO
4	U27310PN2010PTC135624	BHINGARE CASTINGS PRIVATE LIMITED	Director	18/02/2010	18/02/2010	01/07/2012	Active	NO
5	U91920PN2010NPL135837	AHMEDNAGAR AUTO AND ENGINEERING ASSOCIATION	Director	18/03/2010	18/03/2010	-	Active	NO
6	U28932PN2004PTC019902	DATC (INDIA) PRIVATE LIMITED	Director	28/06/2012	16/05/2012	-	Active	NO
7	U50401PN2014PTC150298	SIDDHI AUTO MOTORS PRIVATE LIMITED	Director	22/01/2014	22/01/2014	-	Active	NO
8	U55101PN2014PTC150309	SIDDHI RESORTS AND HOTELS PRIVATE LIMITED	Director	22/01/2014	22/01/2014	-	Active	NO

Name :

Mr. Sharad Vishnu Vaidya

Designation :

Managing Director

Address :

Plot No.28, Shriniketan Housing Society, Karve Road Kothrud, Pune – 411 029, Maharashtra, India

Date of Birth/Age :

25.02.1943

Date of Appointment :

01.04.2011

DIN No. :

02341898

PAN No.:

ABNPV7017N

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	U28932PN2004PTC019902	DATC (INDIA) PRIVATE LIMITED	Managing director	01/04/2011	28/09/2007	-	Active	NO

Name :

Christian Marc Milhet

Designation :

Director

Address :

1 Rue Des Acacias, Thise, 25220, France

Date of Birth/Age :

31.10.1972

Date of Appointment :

30.09.2009

DIN No. :

02460843

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	U28932PN2004PTC019902	DATC (INDIA) PRIVATE LIMITED	Director	30/09/2009	12/02/2009	-	Active	NO

**DIN has been disabled, Form 32 needs to be filed for same.

KEY EXECUTIVES

Name :	Mr. Londe M.G.
Designation :	Assistant General Manager – Finance

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 28.06.2013

Names of Shareholders	No. of Shares
Ashoka Ramchandra Bhave and Shela Bhave and Ashish Bhave	15000
Sheila Ashok Bhave and Ashok Bhave and Aparna Bhave	15000
Sujit Mane and Nandkumar Komble c/o Mane Kaomble and Associates, India	30000
Monsher Fire Protection Systems Private Limited, India	225000
Kuldip Joshi and Sandhyaranee K Joshi	7500
Monica Vijay Aggarwal and Vijay Aggarwal	15000
Gee Tee Farms Private Limited, India	127500
Gee Tee Trading and Investment Private Limited, India	210000
DATC Europe, France	4439358
Eximserve Reckoners Private Limited, India	311824
Sangita Bihani	1
Shailesh Bhave	1
Sai Deep Rock Drills (Private) Limited, India	604400
Rajlaxmi Plaza Private Limited, India	800000
Ranjana Rajaram Darak	1
Paravati Bajarang Darak	1
Karbhari Mathuji Bhingare	959448
Anil Raghav Sali	200000
Total	7960034

AS ON 28.06.2013

Equity Share Break up (Percentage of Total Equity)

Category	Percentage of Holding
Foreign holdings [(Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others]	55.77
Bodies corporate	28.63
Directors or relatives of Directors	12.05
Other top fifty shareholders	3.55
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in manufacturing, exporting and importing of drilling consumables such as Drilling Consumables, Extension Rod, Extension Drill Rods, Drill Steel Rods, Core Barrels for the geotechnical industry.

Products :

Item Code No. (ITC Code)	72159090
Product Description	Rock Drilling Top Hammer Products and Coring Products

• Drill Steel Rods
• Extension Rod
• Core Barrels
• Integral Diamond Bits
• Casing Tubes and Components

Brand Names :

Not Available

Agencies Held :

Not Available

Exports :

Products :

• Finished Goods

Countries :

• France
• Sri Lanka
• Australia
• Bangladesh

Imports :

Products :

• Raw Materials

Countries :

• Sweden
• France
• UK

Terms :

Selling :

Cash and Credit

Purchasing :

Cash and Credit

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Atharva Enterprises, Ahmednagar
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 :

Wholesalers and Retailers

Reference :	Rubamin Limited, Vadodara
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Experience :	Not Divulged
Maximum Limit Dealt :	Not Divulged

· DATC Europe

· DBM Geotech

· MOIL

· Focus Minig

· SR Info

· APC Drilling

No. of Employees :

45 (Approximately)

Bankers :

Banker Name	The Cosmos Co-Operative Bank Limited
Branch Address	269/270, Shaniwar Peth, Pune – 411 030, 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	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG TERM BORROWINGS
Rupee term loans from banks	3.229	6.626
Other loans and advances	35.592	35.804
Total	38.821	42.430

Nature of security:

The above term loans from Cosmos Co-operative Bank Limited is secured by hypothecation of plant and machinery and mortgage of land and building and personal guarantee of Mr. S V Vaidya - MD and Mr. K M Bhingare - Dep. MD and Corporate Gurantee signed by Mr. Robert Lechat on behalf of DATC Europe.

Banking Relations :	--
Auditors :
Name :	H.M. Kale and Associates Chartered Accountants
Address :	Kanchan Apartment, Professor Colony, Savedi, Ahmednagar – 414 003, Maharashtra, India
PAN No.:	ACTPK5399P
Memberships :	MCCIA, ILO, Cluster, Indo-French Chamber of Commerce, CII, Mining and Geological Appreciation of Industry
Collaborators :	Not Available
Holding Company :	DATC Europe, France

CAPITAL STRUCTURE

AS ON 28.06.2013

Authorised Capital :

No. of Shares	Type	Value	Amount
10000000	Equity Shares	Rs.10/- each	Rs.100.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
7960034	Equity Shares	Rs.10/- each	Rs.79.600 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1) Shareholders' Funds
(a) Share Capital	79.600	70.531	70.531
(b) Reserves & Surplus	(11.946)	(17.208)	(23.663)
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	3.050	2.400	2.400
Total Shareholders’ Funds (1) + (2)	70.704	55.723	49.268
(3) Non-Current Liabilities
(a) Long-term borrowings	38.821	42.430	38.455
(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)	38.821	42.430	38.455
(4) Current Liabilities
(a) Short term borrowings	5.524	1.506	2.006
(b) Trade payables	33.756	40.176	36.944
(c) Other current liabilities	6.838	6.333	0.000
(d) Short-term provisions	1.847	1.436	1.022
Total Current Liabilities (4)	47.965	49.451	39.972
TOTAL	157.490	147.604	127.695
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	51.462	49.130	51.442
(ii) Intangible Assets	0.000	0.139	0.241
(iii) Capital work-in-progress	0.040	0.228	0.040
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.188	0.188	0.163
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	51.690	49.685	51.886
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	41.822	45.563	29.964
(c) Trade receivables	53.142	41.402	34.168
(d) Cash and cash equivalents	6.711	6.171	6.551
(e) Short-term loans and advances	4.125	4.783	5.126
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	105.800	97.919	75.809
TOTAL	157.490	147.604	127.695

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income from operations	111.965	109.253	85.430
		Other Income	1.323	1.117	0.239
		TOTAL	113.288	110.370	85.669
Less	EXPENSES
		TOTAL	101.434	98.982	77.328
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		11.854	11.388	8.341
Less/ Add	DEPRECIATION/ AMORTISATION		5.329	5.021	4.243
	PROFIT/ (LOSS) BEFORE TAX		6.525	6.367	4.098
Less	TAX		1.245	0.000	0.000
	PROFIT/ (LOSS) AFTER TAX		5.280	6.367	4.098
	EARNINGS IN FOREIGN CURRENCY		40.968	56.456	46.887
	Earnings / (Loss) Per Share (Rs.)		0.66	0.90	NA

Particulars	31.03.2014
Sales Turnover (Approximately)	135.000

Expected Sales (2014-2015): Rs.147.000 millions

The above information has been parted by Mr. Londe M.G. (Assistant General Manager – Finance).

KEY RATIOS

PARTICULARS		31.03.2013	31.03.2012	31.03.2011
Net Profit Margin (PAT/Sales)	(%)	4.72	5.83	4.80
Return on Total Assets (PBT/Total Assets}	(%)	4.15	4.33	3.21
Return on Investment (ROI) (PBT/Networth)		0.09	0.11	0.08
Debt Equity Ratio (Total Debt/Networth)		0.63	0.79	0.82
Current Ratio (Current Asset/Current Liability)		2.21	1.98	1.90

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

DEBT EQUITY RATIO

Particular	31.03.2011	31.03.2012	31.03.2013
	(INR in Mlns.)	(INR in Mlns.)	(INR in Mlns.)
Share Capital	70.531	70.531	79.600
Reserves & Surplus	(23.663)	(17.208)	(11.946)
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	2.400	2.400	3.050
Net worth	49.268	55.723	70.704
Long Term borrowings	38.455	42.430	38.821
Short Term borrowings	2.006	1.506	5.524
Total borrowings	40.461	43.936	44.345
Debt/Equity ratio	0.821	0.788	0.627

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2011	31.03.2012	31.03.2013
	(INR in Mlns)	(INR in Mlns)	(INR in Mlns)
Income from operations	85.430	109.253	111.965
		27.886	2.482

NET PROFIT MARGIN

Net Profit Margin	31.03.2011	31.03.2012	31.03.2013
	(INR in Mlns)	(INR in Mlns)	(INR in Mlns)
Income from operations	85.430	109.253	111.965
Profit	4.098	6.367	5.280
	4.80%	5.83%	4.72%

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 four years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	-----
14]	Estimation for coming financial year	Yes
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)	Yes
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	No
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	No

NOTE:

The registered address of the company has been shifted from Vishnu - Kamal 28, Shriniketan Society, 128/2, Kothrud, Pune – 411 038, Maharashtra to the present address w.e.f. 05.09.2009.

BACKGROUND:

The Company is engaged in the manufacture of ‘Integrated Drill Steel Rods’ and ‘Extension Equipments’. These rods are used in mining industry, granite and marble mines and in infrastructure industry. The manufacturing facility of the Company is situated in Ahmednagar, India.

In May 2006, the Company entered into a strategic alliance with a multinational company DATC Group, France, which became the Company’s Holding Company. The holding company is in the mining tool business since 1976 and has its manufacturing facilities at Besancon, France.

OPERATIONS:

During the year the sales of the Company has increased from Rs.109.253 millions to Rs.111.965 millions.

The profit before tax increased from Rs.6.367 millions to Rs.6.524 millions. The Board is confident of having better results during the current year.

UNSECURED LOANS

PARTICULAR	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
SHORT TERM BORROWINGS
Intercorporate deposits
From Shareholders and Directors	5.385	1.500
Interest Accrued	0.139	0.006
Total	5.524	1.506

INDEX OF CHARGES

S. No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10513161	20/06/2014	2,000,000.00	THE COSMOS CO-OPERATIVE BANK LIMITED (PUNE CAMP BRANCH)	HEAD OFFICE-269/270, SHANIWAR PETH, PUNE, MAHARASHTRA - 411030, INDIA	C15203029
2	10502936	17/12/2013 *	9,500,000.00	THE COSMOS CO-OPERATIVE BANK LIMITED (PUNE CAMP BRANCH)	HEAD OFFICE-269/270, SHANIWAR PETH, PUNE, MAHARASHTRA - 411030, INDIA	C07052905
3	10363140	05/06/2012	2,500,000.00	THE COSMOS CO-OPERATIVE BANK LIMITED (CAMP BRANCH)	269/270, SHANIWAR PETH, PUNE, MAHARASHTRA - 411030, INDIA	B42687996
4	10355457	08/03/2013 *	19,500,000.00	THE COSMOS CO-OPERATIVE BANK LIMITED (CAMP BRANCH)	269/270, SHANIWAR PETH, PUNE, MAHARASHTRA - 411030, INDIA	B72119100
5	10322647	21/10/2011	1,456,000.00	THE COSMOS CO-OPERATIVE BANK LIMITED (PUNE CAMP BRANCH)	269/270, SHANIWAR PETH,, PUNE, MAHARASHTRA - 411030, INDIA	B27681014
6	10317412	21/09/2011	41,000,000.00	THE COSMOS CO-OPERATIVE BANK LIMITED (PUNE CAMP BRANCH)	269/270, SHANIWAR PETH,, PUNE, MAHARASHTRA - 411030, INDIA	B25214446
7	10244871	24/08/2010	3,000,000.00	THE COSMOS CO-OPERATIVE BANK LIMITED (PUNE CAMP BRANCH )	269/370, SHANIWAR PETH, PUNE, MAHARASHTRA - 411030, INDIA	A96449178
8	10117460	27/06/2008	10,000,000.00	THE COSMOS CO-OP. BANK LIMITED (PUNE CAMP BRANCH)	269/270, SHANIWAR PETH, PUNE, MAHARASHTRA - 411030, INDIA	A43699396
9	10077418	23/10/2007	10,000,000.00	THE COSMOS CO-OPERATIVE BANK LIMITED (PUNE CAMP)	269/270, SHANIWAR PETH, PUNE, MAHARASHTRA - 411030, INDIA	A27802602
10	10077417	22/10/2007	13,500,000.00	THE COSMOS CO-OPERATIVE BANK LIMITED (PUNE CAMP)	269/270, SHANIWAR PETH, PUNE, MAHARASHTRA - 411030, INDIA	A27802214
11	10107711	11/06/2007	55,100,000.00	THE COSMOS CO-OP. BANK LIMITED (CAMP BRANCH)	269/270, SHANIWAR PETH, PUNE, MAHARASHTRA - 411030, INDIA	A17981184
12	10016477	09/08/2006	31,000,000.00	THE COSMOS CO-OPERATIVE BANK LIMITED	269/270, SHANIWAR PETH, PUNE, PUNE CAMP BRANCH, PUNE, MAHARASHTRA - 411030, INDIA	A03885175
13	10003989	20/04/2006	2,500,000.00	THE COSMOS CO - OPERATIVE BANK LIMITED	269/270, SHANIWAR PETH, PUNE, PUNE CAMP BRANCH, PUNE, MAHARASHTRA - 411030, INDIA	A01118835
14	90094198	25/09/2006 *	38,000,000.00	THE COSMOS CO-OPERATIVE BANK LIMITED	269/270, SHANIWAR PETH, PUNE, CAMP BRANCH, PUNE,  MAHARASHTRA - 411030, INDIA	-
15	90087147	09/02/2005	1,000,000.00	THE COSMOS CO-OPERATIVE BANK LIMITED	269/270, SHANIWAR PETH, PUNE, MAHARASHTRA - 411030, INDIA	-

* Date of charge modification

FIXED ASSETS:

Tangible Assets

· Land

· Buildings

· Plant and Equipment

· Factory Equipments

· Emission Reduction Equipment

· Other pollution Reduction Equipment

· Furniture and Fixtures

· Vehicles

· Office Equipment

· Computer Equipments

Intangible Assets

· Computer Software

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.61.85
UK Pound	1	Rs.93.27
Euro	1	Rs.71.57

INFORMATION DETAILS

Information Gathered by :	DIP
Analysis Done by :	RAS
Report Prepared by :	SMN

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	3
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
-- PROFITABILITY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	2
--CREDIT LINES	1~10	3
--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		27

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.