MIRA INFORM REPORT

Report No. :	304387
Report Date :	27.01.2015

IDENTIFICATION DETAILS

Name :	BIBA APPARELS PRIVATE LIMITED
Registered Office :	House No. 16/103, Ground Floor, Rajendra Nagar, Borivali (East), Mumbai-400066, Maharashtra
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	10.07.2002
Com. Reg. No.:	11-136468
Capital Investment / Paid-up Capital :	Rs. 47.864 Millions
CIN No.: [Company Identification No.]	U18100MH2002PTC136468
IEC No.	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	MUMB10533F
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Private limited liability company.
Line of Business :	Manufacturers, Dealers, Exporters, Hires, Makers, Repairers, Alters, Commission Agents and Agents of All Readymade Garments, Clothes for Men, Women and Children.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (64)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 4600000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is an established company having good track record. Financial position of the company is sound. Fundamentals of the company are healthy. Trade relation are reported as fair. Business is active. Payment terms are reported to be regular and as per commitment. The company can be considered normal for business dealing 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 – 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

Rating Agency Name	ICRA
Rating	Long Term : (A+)
Rating Explanation	Adequate degree of safety and low credit risk
Date	November 2014

Rating Agency Name	ICRA
Rating	Fund Based limits (A1+)
Rating Explanation	Very strong degree of safety and carry lowest credit risk.
Date	November 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 :	House No. 16/103, Ground Floor, Rajendra Nagar, Borivali (East), Mumbai-400066, Maharashtra, India
Tel. No.:	91-22-28708409
Fax No.:	Not Available
Email Id:	http://www.bibaindia.com
Branch :	Plot No. 8, A-2, Khasra No. 659/2, Near Tivoli Garden, New Delhi-110074, India
Tel. No.:	91-11-66544300
Fax No.:	91-11-26303804

DIRECTORS

As on 23.07.2014

Name :

Mr. Siddharth Bindra

Designation :

Managing Director

Address :

F-4, Ansal Villa, Near CSKM School, Satbari, New Delhi-110030, Delhi, India

Date of Birth/Age :

04.10.1974

Date of Appointment :

01.03.2013

DIN No.:

01680498

PAN No.:

ACSPB2453N

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	U99999DL1996PTC233608	MEENA AGRITECH PRIVATE LIMITED	Director	01/08/1996	01/08/1996	-	Active	NO
2	U18100MH2002PTC136468	BIBA APPARELS PRIVATE LIMITED	Managing director	01/03/2013	10/07/2002	-	Active	NO
3	U52609DL2006PTC156068	DHANVAN IMPEX PRIVATE LIMITED	Director	30/11/2006	30/11/2006	-	Active	NO
4	U52599DL2006PTC156056	KAVERI TRADEX PRIVATE LIMITED	Managing director	03/09/2014	30/11/2006	-	Active	NO
5	U74899DL1994PTC061984	KHATTAR ESTATES PRIVATE LIMITED	Director	27/03/2007	27/03/2007	-	Active	NO
6	U18109DL2012PTC241536	IMA CLOTHING PRIVATE LIMITED	Director	17/09/2012	17/09/2012	25/03/2014	Active	NO
7	L40200DL1968PLC005169	SOMANY CERAMICS LIMITED	Director	04/09/2014	26/05/2014	-	Active	NO

Name :

Mrs. Meena Satish Bindra

Designation :

Director

Address :

F-4, Ansal Villa, Near CSKM School, Satbari, New Delhi-110030, Delhi, India

Date of Birth/Age :

16.06.1943

Date of Appointment :

10.02.2002

DIN No.:

01627149

PAN No.:

AFKPB0306H

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	U99999DL1996PTC233608	MEENA AGRITECH PRIVATE LIMITED	Director	01/08/1996	01/08/1996	-	Active	NO
2	U18100MH2002PTC136468	BIBA APPARELS PRIVATE LIMITED	Director	10/07/2002	10/07/2002	-	Active	NO
3	U52599DL2006PTC156056	KAVERI TRADEX PRIVATE LIMITED	Director	30/11/2006	30/11/2006	16/08/2013	Active	NO
4	U52609DL2006PTC156068	DHANVAN IMPEX PRIVATE LIMITED	Director	30/11/2006	30/11/2006	16/08/2013	Active	NO
5	U18109DL2012PTC241536	IMA CLOTHING PRIVATE LIMITED	Director	10/06/2013	24/09/2012	25/03/2014	Active	NO

Name :

Mr. Saurabh Modi

Designation :

Nominee Director

Address :

D 46, B Malviya Marg, C Scheme, Jaipur-302005, Rajasthan, India

Date of Birth/Age :

20.02.1975

Date of Appointment :

20.09.2013

DIN No.:

00906630

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	U14101RJ1983PLC002805	SUPREME MARBLE AND GRANITE LIMITED	Director	26/02/1996	26/02/1996	-	Active	NO
2	U24246RJ1966PTC001214	ORIENTAL TALC PRODUCTS PRIVATE LIMITED	Director	02/05/2003	02/05/2003	-	Active	NO
3	U13209RJ2004PTC019960	NEERJA AND YASH MINERALS PRIVATE LIMITED	Director	01/12/2004	01/12/2004	-	Strike off	NO
4	U80302RJ2007PTC024234	NEERJA EDUCATION AND HOSPITALITY MANAGEMENT SERVICES PRIVATE LIMITED	Director	17/04/2007	17/04/2007	-	Active	NO
5	U14101RJ1984PTC002975	LAXMI MARBLE AND GRANITES PRIVATE LIMITED	Additional director	06/11/2013	25/11/2009	09/12/2013	Active	NO
6	U18100MH2002PTC136468	BIBA APPARELS PRIVATE LIMITED	Nominee director	20/09/2013	20/09/2013	-	Active	NO

Name :

Mr. Vishal Kshyap Mahadevia

Designation :

Nominee Director

Address :

81 Land Mark Carmichael Road, Mumbai-400026, Maharashtra, India

Date of Birth/Age :

19.12.1972

Date of Appointment :

20.09.2013

DIN No.:

01035771

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	U51900MH1997PTC112119	RADHAKRISHNA FOODLAND CARRIERS PRIVATE LIMITED	Director	18/09/2007	22/11/2006	12/01/2009	Amalgamated	NO
2	U51900MH1996PTC096128	Foodland Retail Solutions Private Limited	Director	18/09/2007	22/11/2006	12/01/2009	Amalgamated	NO
3	U51900MH1987PTC044894	RADHAKRISHNA FOODLAND PRIVATE LIMITED	Director	18/09/2007	22/11/2006	12/01/2009	Active	NO
4	U74210MH1999PTC123202	ARKSOFT ENTERPRISE PRIVATE LIMITED	Director	18/09/2007	22/11/2006	12/01/2009	Amalgamated	NO
5	U45209TG2001PLC037861	GANGAVARAM PORT LIMITED	Nominee director	08/09/2014	30/06/2007	-	Active	NO
6	U25111MH2007PTC172456	ATC TIRES PRIVATE LIMITED	Director	29/08/2007	29/08/2007	26/06/2013	Active	NO
7	U74140MH2004PTC145467	WARBURG PINCUS INDIA PRIVATE LIMITED	Managing director	01/01/2009	01/01/2009	-	Active	NO
8	U15428WB1935PLC008245	IMC LIMITED	Nominee director	11/10/2010	11/10/2010	-	Active	NO
9	U63090MH1997PLC108197	CONTINENTAL WAREHOUSING CORPORATION (NHAVA SEVA) LIMITED	Nominee director	11/04/2011	11/04/2011	-	Active	NO
10	U36911RJ1996PLC011381	AU FINANCIERS (INDIA) LIMITED	Nominee director	26/09/2012	10/03/2012	-	Active	NO
11	L29120MH2005PLC156795	CAPITAL FIRST LIMITED	Director	22/08/2013	28/09/2012	-	Active	NO
12	U18100MH2002PTC136468	BIBA APPARELS PRIVATE LIMITED	Nominee director	20/09/2013	20/09/2013	-	Active	NO
13	U36911KL2009PTC024641	KALYAN JEWELLERS INDIA PRIVATE LIMITED	Director	17/10/2014	17/10/2014	-	Active	NO

Name :

Mr. Sameer Mohan Shroff

Designation :

Nominee Director

Address :

31 Guide, 8^th Floor, Malabar Hills, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

14.03.1973

Date of Appointment :

20.09.2013

DIN No.:

02848581

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	U74140MH2010PTC198983	Faering Capital Private Limited	Managing director	01/07/2010	18/01/2010	-	Active	NO
2	U18101KA2001PTC029774	GOKALDAS INTIMATEWEAR PRIVATE LIMITED	Director	08/06/2012	08/06/2012	-	Active	NO
3	U18100MH2002PTC136468	BIBA APPARELS PRIVATE LIMITED	Nominee director	20/09/2013	20/09/2013	-	Active	NO
4	U80301KA2011PTC060776	LinkStreet Learning Private Limited	Director	25/09/2014	19/06/2014	-	Active	NO
5	U93090MH2010PTC211328	TRANSERV PRIVATE LIMITED	Nominee director	30/09/2014	03/07/2014	-	Active	NO
6	AAD-0556	FAERING CAPITAL ADVISORS LLP	Designated Partner	15/12/2014	15/12/2014	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 15.05.2013

Names of Shareholders	No. of Shares	Percentage
Meena Bindra	47490	9.92
Kaveri Tradex Private Limited	17740	3.71
Shradha Bindra	15000	3.13
Saurabh Modi	4500	0.94
Dhanvan Impex Private Limited	40000	8.36
Future Venture India Limited	2967	0.62
Siddharth Bindra	198598	41.49
Faering Capital India Involving Fund	22345	4.67
Highdell investment Limited	127849	26.71
Tirumal Trading and Investment Consulting Private Limited	2149	0.45
TOTAL	478638	100.00

Equity Share Break up (Percentage of Total Equity)

As on 15.05.2013

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	26.71
Bodies corporate	17.81
Directors or relatives of Directors	54.54
Other top fifty shareholders	0.94
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturers, Dealers, Exporters, Hires, Makers, Repairers, Alters, Commission Agents and Agents of All Readymade Garments, Clothes for Men, Women and Children.
Products :	Readymade Garments
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :
Selling :	Not Available
Purchasing :	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

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

No. of Employees :

Not Available

Bankers :

• YES Bank Limited, 9^th Floor, Nehru Center, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai-400018, Maharashtra, India
• ICICI Bank Limited, ICICI Bank Towers, Bandra Kurla Complex, Mumbai-400051, Maharashtra, India
• IDBI Bank Limited, IDBI Towerwtc Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India
• Kotak Mahindra Bank Limited 15 - 16, UGF, Ambadeep Building, 14 K G Marg,, New Delhi - 110001,Delhi, India
• Axis Bank Limited, 2nd Floor, Statesman House,148, Barakhamba Road, New Delhi - 110001,Delhi, India

Facilities :

SECURED LOAN

(Rs. In Millions)

Particulars	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWINGS
Term loans
From Banks	9.469	22.536
Vehicle loans	0.733	1.089
SHORT TERM BORROWINGS
Loans Repayable on Demand
Cash credit facility From Banks IDBI Bank Limited	0.000	117.518
Kotak Mahindra Bank Limited	0.000	28.154
Axis Bank Limited	0.000	9.378
Yes Bank Limited	0.212	0.000
Working capital demand loan From Banks
Axis Bank Limited	0.000	20.000
Kotak Mahindra Bank Limited	50.000	0.000
Total	60.414	198.675

Notes :

Long Term Borrowings

Term loan from Kotak Mahindra bank is secured by a pari passu charge on the company's current assets and personal guarantee of managing director.

The loan taken from kotak Mahindra bank carries interest ranging from 12.60% to 13.05% per annum and is repayable in 36 equal installments. 2 Vehicle loan taken from Kotak Mahindra carries interest @11.77% per annum. The loan is repayable in 5 years.

Short Term Borrowings

Cash credit facility taken from IDBI Bank Limited by a pari passu charge by way

of hypothecation of entire current assets of the company both present and future, exclusive pledge of 10% of equity shares held by the promoters in the company, personal guarantee by directors and negative lien on 16% shares of the promoters. This loan carries a Interest 12.50 % per annum and is repayable within a year.

Working capital demand loan and cash credit facility from Kotak Mahindra Bank is secured by a pari passu charge on the company's current assets and personal guarantee of managing director. Working capital demand loan and cash credit facility carries interest @ 10.25% and 12.25% per annum respectively and is repayable within a year.

Working capital demand loan and cash credit facility from from Axis Bank is secured by a pari passu charge on the company's current assets and personal guarantee of Managing Director. The loan carries interest of 11.75 % and 12.50% per annum respectively and is repayable within a year.

Cash credit facility from Yes Bank is secured by a pari passu charge on the Company's current assets and moveable fixed assets of the Company and personal guarantee of managing director. This loan carries interest @12% per annum and is repayable within a year.

Financial Institution :	Tata Capital Limited, One Forbes, Dr. V B Gandhi Marg, Fort, Mumbai - 400001, Maharashtra, India
Auditors :
Name :	Walker Chandok and Associates Chartered Accountants
Address :	L-41conaught, Circus, New Delhi – 110001, Delhi, India
PAN No.:	AAAFW4298E
Memberships :	Not Available
Collaborators :	Not Available
Subsidiaries :	IMA Clothing Private Limited (CIN No. U18109DL2012PTC241536) Meena Agritech Private Limited (CIN No. U99999DL1996PTC233608) Kaveri Tradex Private Limited (CIN No. U52599DL2006PTC156056) Future Ventures India Limited (CIN No. L52602MH1996PLC192090)
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives	Future Consumer Enterprise Limited (CIN No.L52602MH1996PLC192090)

CAPITAL STRUCTURE

As on 23.07.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
600,000	Equity Shares	Rs.100/- each	Rs. 60.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
478,638	Equity Shares	Rs.100/- each	Rs. 47.864 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	47.864	46.950	46.950
(b) Reserves & Surplus	1563.073	936.754	633.474
(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)	1610.937	983.704	680.424
(3) Non-Current Liabilities
(a) long-term borrowings	10.202	23.625	15.687
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.821	0.573	4.138
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	11.023	24.198	19.825
(4) Current Liabilities
(a) Short term borrowings	50.212	175.050	130.548
(b) Trade payables	119.589	129.924	119.347
(c) Other current liabilities	97.308	65.244	85.373
(d) Short-term provisions	124.432	97.472	65.513
Total Current Liabilities (4)	391.541	467.690	400.781
TOTAL	2013.501	1475.592	1101.030
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	203.996	131.744	101.509
(ii) Intangible Assets	9.073	8.716	4.599
(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	19.000	15.000	0.000
(c) Deferred tax assets (net)	15.749	11.293	8.735
(d) Long-term Loan and Advances	136.623	106.399	65.942
(e) Other Non-current assets	1.530	1.172	1.027
Total Non-Current Assets	385.971	274.324	181.812
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	728.824	497.635	404.714
(c) Trade receivables	704.068	604.840	415.141
(d) Cash and cash equivalents	161.645	15.819	18.700
(e) Short-term loans and advances	32.344	82.859	80.663
(f) Other current assets	0.649	0.115	0.000
Total Current Assets	1627.530	1201.268	919.218
TOTAL	2013.501	1475.592	1101.030

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2014	31.03.2013	31.03.2012
	SALES
		Income
		Other Income
		TOTAL (A)	2868.817	2106.918	1730.578
Less	EXPENSES
		TOTAL (B)	2071.060	1540.697	1356.362
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		797.757	566.221	374.216
Less	FINANCIAL EXPENSES (D)		24.798	39.267	33.814
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		772.959	526.954	340.402
Less/ Add	DEPRECIATION/ AMORTISATION (F)		60.934	46.116	35.013
	PROFIT BEFORE TAX (E-F) (G)		712.025	480.838	305.389
Less	TAX (H)		244.410	158.846	107.952
	PROFIT AFTER TAX (G-H) (I)		467.615	321.992	197.437
	Earnings Per Share (Rs.)		985.82	685.82	--

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT/ Total Income)	(%)	16.30	15.28	11.41
Operating Profit Margin (PBDIT/ Total Income)		27.81	26.87	21.62
Return on Total Assets (PBT/Total Assets}	(%)	35.98	33.18	27.96
Return on Investment (ROI) (PBT/Networth)		0.44	0.49	0.45
Debt Equity Ratio (Total Debt /Networth)		0.04	0.20	0.21
Current Ratio (Current Asset/Current Liability)		4.16	2.57	2.29

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	46.950	46.950	47.864
Reserves & Surplus	633.474	936.754	1563.073
Net worth	680.424	983.704	1610.937
long-term borrowings	15.687	23.625	10.202
Short term borrowings	130.548	175.050	50.212
Total borrowings	146.235	198.675	60.414
Debt/Equity ratio	0.215	0.202	0.038

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)
Total Income	1730.578	2106.918	2868.817
		21.746	36.162

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Millions)	(Rs. In Millions)	(Rs. In Millions)
Total Income	1730.578	2106.918	2868.817
Profit	197.437	321.992	467.615
	11.41%	15.28%	16.30%

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

Note:

The registered office of the company has been shifted from Ground Floor, Reliable House, Hanuman Silk Mill Compound, Kanjurmarg (West), Mumbai-400078, Maharashtra, India to present address w.e.f. 20.11.2013

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10447182	16/07/2013	30,000,000.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR.  ANNIE BESANT ROAD, WORLI, MUMBAI, Maharashtra - 400018, INDIA	B84098722
2	10389552	09/11/2012	50,000,000.00	AXIS BANK LIMITED	2ND FLOOR, STATESMAN HOUSE, 148, BARAKHAMBA ROAD,NEW DELHI, Delhi - 110001, INDIA	B63180913
3	10375996	05/09/2012	100,000,000.00	KOTAK MAHINDRA BANK LIMITED	15 - 16, UGF, Ambadeep Building, 14 K G Marg, New Delhi, Delhi - 110001, INDIA	B57915258
4	10356247	30/12/2011	200,000,000.00	IDBI Bank Limited	IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, Maharashtra - 400005, INDIA	B37131968

* Date of charge modification

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. 61.49
UK Pound	1	Rs. 92.16
Euro	1	Rs. 69.61

INFORMATION DETAILS

Information Gathered by :	DIV
Report Prepared by :	JYTK

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	7
PAID-UP CAPITAL	1~10	7
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILIRY	1~10	7
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	8
--CREDIT LINES	1~10	7
--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		53

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.