MIRA INFORM REPORT

Report No. :	324669
Report Date :	06.06.2015

IDENTIFICATION DETAILS

Name :	NAVDEEP CHEMICALS PRIVATE LIMITED
Registered Office :	5th Floor, New Excelsior Building, A.K. Nayak Marg, Fort, Mumbai – 400001, Maharashtra
Tel. No.:	91-22-22074160
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	01.02.1978
Com. Reg. No.:	11-020113
Capital Investment / Paid-up Capital :	Rs. 19.000 Million
CIN No.: [Company Identification No.]	U24100MH1978PTC020113
TAN No.: [Tax Deduction & Collection Account No.]	MUMN09572D
PAN No.: [Permanent Account No.]	AAACN0294L
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Exporter of Specialty chemicals
No. of Employees :	100 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba (47)

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

Maximum Credit Limit :	USD 470000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. The rating reflect the extensive experience of the company’s in the specialty chemicals business supported by sound financial risk profile and decent profitability margins 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 condition.

NOTES :

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

ECGC Country Risk Classification List – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
India	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 = BBB-
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	19.05.2015
Rating Agency Name	CRISIL
Rating	Short Term Rating = A3
Rating Explanation	Moderate degree of safety and higher credit risk.
Date	19.05.2015

RBI DEFAULTERS’ LIST STATUS

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

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2013.

INFORMATION PARTED BY (GENERAL INFORMATION)

Name :	Mr. Dimant Jani
Designation :	Senior Account Executive
Contact No.:	91-22-22074160
Date :	29.05.2015

LOCATIONS

Registered Office :	5th Floor, New Excelsior Building,  A.K Nayak Marg, Fort, Mumbai - 400 001, Maharashtra, India
Tel. No.:	91-22- 22074160/ 22074157 / 22074158 / 22074159
Fax No.:	91-22- 22074199
E-Mail :	jani@navdeep.com nitin@navdeep.com navdeepchem@eth.net
Website :	http://www.navdeep.com
Corporate Office :	166, Bora Bazaar Street, Fort, Mumbai – 400001, Maharashtra, India
Tel. No.:	91-22-22613855/ 22074160
Fax No.:	91-22-22074199
E-Mail :	navdeepchem@eth.net
Website :	http://www.navdeep.com
Factory :	Plot No. 430, Plot No. 409, Plot No. 1105 GIDC, Ankleshwar, Gujarat, India

DIRECTORS

AS ON 14.07.2014

Name :

Mr. Amit Deepak Bhimani

Designation :

Whole Time Director

Address :

26, CCI Chambers, 4^th Floor, 210/211 Dinshaw Vachha Road, Churchgate, Mumbai – 400020, Maharashtra, India

Date of Birth :

16.11.1967

Date of Appointment :

06.05.1996

Voter ID No.:

MT/04/019/258719

DIN No.:

00146763

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	U24100MH1978PTC020113	NAVDEEP CHEMICALS PRIVATE LIMITED	Whole-time director	06/05/1996	06/05/1996	-	Active	NO
2	U65990MH1989PTC051896	INVESTMENT CORPORATION (RATLAM) PRIVATE LIMITED	Director	05/09/1997	05/09/1997	-	Strike off	NO
3	U70102MH2007PTC170614	Yashdeep Chemicals (India) Private Limited	Director	24/11/2008	24/10/2008	-	Active	NO

Name :

Mr. Chandrahas Charandas Dayal

Designation :

Director

Address :

B-7, Arun Narayan Dhabolkar Road, Mumbai – 400006, Maharashtra, India

Date of Birth/Age :

31.01.1944

Date of Appointment :

08.08.1991

DIN No.:

00178583

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	U93000MH1984PTC033364	WHITE HAT EDUTAINMENT PRIVATE LIMITED	Director	06/07/1984	06/07/1984	26/02/2008	Active	NO
2	U65990MH1989PTC054474	MATURE TRADING AND INVESTMENTS PRIVATE LIMITED	Director	19/11/1990	19/11/1990	-	Active	NO
3	U24100MH1978PTC020113	NAVDEEP CHEMICALS PRIVATE LIMITED	Director	08/08/1991	08/08/1991	-	Active	NO
4	U74120GJ1989PLC012329	TML INDUSTRIES LIMITED	Director	16/07/1992	16/07/1992	-	Active	NO
5	U67190MH1994PTC079806	SYNCHROFIN SERVICES PRIVATE LIMITED	Director	22/07/1994	22/07/1994	-	Active	NO
6	U67120MH1993PTC071371	RASEERA INVESTMENTS PVT LTD	Director	08/02/1995	08/02/1995	-	Active	NO
7	L74999MH1922PLC000997	GAMMON INDIA LIMITED	Director	29/03/1995	29/03/1995	-	Active	NO
8	U45200MH1995PTC091282	TREETOPS HOUSING AND ESTATE DEVELOPERS PRIVATE LIMITED	Director	03/06/1996	03/06/1996	02/03/2009	Active	NO
9	U25200MH1985PLC060434	CHEMSTAR ORGANICS (INDIA) LIMITED	Director	24/05/1997	24/05/1997	-	Under liquidation	NO
10	U72200MH1998PLC115320	PACIFIC NETPRO LIMITED	Director	11/06/1998	11/06/1998	13/10/2014	Active	NO
11	U29290MH1998PTC116945	SPECTRUM INFORMATIVE SERVICES PRIVATE LIMITED	Director	25/02/1999	25/02/1999	24/03/2015	Active	NO
12	U45203MH1999PLC122565	STFA PILING (INDIA) LIMITED	Director	12/06/2000	12/06/2000	13/10/2014	Active	NO
13	U45200MH1999PLC122317	COCHIN BRIDGE INFRASTRUCTURE COMPANY LIMITED	Director	30/06/2014	28/02/2003	06/11/2014	Active	NO
14	U42200MH2002PLC138442	GAMMON AND BILLIMORIA LIMITED	Director	27/12/2004	27/12/2004	13/10/2014	Active	NO
15	L45203MH2001PLC131728	GAMMON INFRASTRUCTURE PROJECTS LIMITED	Director	30/06/2014	19/09/2005	-	Active	NO
16	U45203MH2005PLC155016	MUMBAI NASIK EXPRESSWAY LIMITED	Director	30/06/2014	29/06/2006	-	Active	NO
17	U45200MH2006PLC159107	GAMMON PROJECTS DEVELOPERS LIMITED	Director	29/06/2007	18/12/2006	04/10/2007	Active	NO
18	U45309MH2007PLC171578	GAMMON LOGISTICS LIMITED	Director	12/06/2007	12/06/2007	04/10/2007	Active	NO
19	U45203DL2001PLC112508	ANDHRA EXPRESSWAY LIMITED	Director	30/06/2014	04/10/2007	06/11/2014	Active	NO
20	U45203DL2001PLC112518	RAJAHMUNDRY EXPRESSWAY LIMITED	Director	12/06/2014	04/10/2007	06/11/2014	Active	NO
21	U74999MH2001PTC130980	EASYLINK AGENCIES AND SERVICES PRIVATE LIMITED	Director	16/11/2010	16/11/2010	-	Active	NO
22	U45203AP2001PTC038955	VIZAG SEAPORT PRIVATE LIMITED	Director	31/01/2015	14/03/2011	-	Active	NO
23	U70102MH2013PTC247643	ASHMORE ESTATE PRIVATE LIMITED	Director	29/08/2013	29/08/2013	24/03/2015	Active	NO
24	U51109MH2008PTC179887	HAVELI TRADERS PRIVATE LIMITED	Additional director	15/12/2014	15/12/2014	-	Active	NO
25	U51909MH2008PTC181302	BUSINESS GROWTH ASSOCIATES PRIVATE LIMITED	Additional director	15/12/2014	15/12/2014	-	Active	NO
26	U24100MH1989PTC054092	TEST CONSULTANTS Private Limited	Additional director	15/12/2014	15/12/2014	-	Active	NO
27	U51109MH2010PTC199241	SWASTIK EXIM PRIVATE LIMITED	Additional director	15/12/2014	15/12/2014	-	Active	NO
28	U92411MH2003PTC141594	GYM SOLUTIONS INDIA PRIVATE LIMITED	Additional director	15/12/2014	15/12/2014	-	Active	NO
29	U51900MH1980PTC022849	GULF ENTERPRISES EXPORTS PRIVATE LIMITED	Additional director	15/12/2014	15/12/2014	-	Active	NO
30	U51900MH1999PTC120676	DEVRITA EXPORTS PRIVATE LIMITED	Additional director	15/12/2014	15/12/2014	-	Active	NO

Name :

Mrs. Sandhya Deepak Bhimani

Designation :

Director

Address :

26, CCI Chambers, 4^th Floor, 210/211 Dinshaw Vachha Road, Churchgate, Mumbai – 400020, Maharshtra, India

Date of Birth :

21.12.1944

Date of Appointment :

01.02.1978

DIN No.:

00189397

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	U24100MH1978PTC020113	NAVDEEP CHEMICALS PRIVATE LIMITED	Whole-time director	01/02/1978	01/02/1978	-	Active	NO
2	U70102MH2007PTC170614	Yashdeep Chemicals (India) Private Limited	Director	24/11/2008	24/10/2008	-	Active	NO

Name :

Mr. Deepak Vijaysinh Bhimani

Designation :

Managing Director

Address :

26, CCI Chambers, 4^th Floor, 210/211 Dinshaw Vachha Road, Churchgate, Mumbai – 400020, Maharashtra, India

Date of Birth :

31.08.1939

Date of Appointment :

01.02.1978

Voter ID No.:

MT/04/019/258719S

DIN No.:

00276661

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	U24100MH1978PTC020113	NAVDEEP CHEMICALS PRIVATE LIMITED	Managing director	01/02/1978	01/02/1978	-	Active	NO
2	U65990MH1989PTC051896	INVESTMENT CORPORATION (RATLAM) PRIVATE LIMITED	Director	01/12/1991	01/12/1991	-	Strike off	NO
3	L24100MH1992PLC066691	JAYANT AGRO-ORGANICS LIMITED	Director	27/09/2014	27/10/2005	-	Active	NO
4	U24110MH1983GAP029243	INDIAN SPECIALITY CHEMICAL MANUFACTURERS' ASSOCIATION	Director	06/09/2006	06/09/2006	-	Active	NO
5	L74999MH1964PLC012878	EXCEL CROP CARE LTD	Director appointed in casual vacancy	16/07/2008	16/07/2008	-	Active	NO
6	U70102MH2007PTC170614	Yashdeep Chemicals (India) Private Limited	Director	24/11/2008	24/10/2008	-	Active	NO

Name :

Mr. Ramnik Keshavlal Kapadia

Designation :

Additional Director

Address :

111, Rewa Apartments, Bhulabhai Desai Road, Mumbai – 400026, Maharashtra, India

Date of Birth :

23.10.1938

Date of Appointment :

22.09.2008

DIN No.:

02180684

KEY EXECUTIVES

Name :	Mr. Dimant Jani
Designation :	Senior Account Executive

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 14.07.2014

Names of Shareholders	No. of Shares
Shri Deepak .V. Bhimani (HUF) Jointly Held With Sandhya Deepak Bhimani	51447
Shri Deepak .V. Bhimani Jointly Held With Sandhya Deepak Bhimani	52624
Sandhya D Bhimani Jointly Held With Deepak V Bhimani	38393
Sandhya D Bhimani Jointly Held With Amit D Bhimani	8135
Amit D Bhimani Jointly Held With Sandhya D Bhimani	7289
Amit D Bhimani Jointly Held With Chaula A Bhimani	3867
Mrs Chaula A Bhimani Jointly Held With Amit D Bhimani	4341
Mst Yash A Bhimani jointly held with Amit Bhimani and Chaula Bhimani	241
Mira Amit Bhimani jointly held with Amit Bhimani and Chaula Bhimani	55
Amit Deepak Bhimani (HUF)	1500
Ms. Shachi Bhimani	2168
Total	190,000

Equity Share Break up (Percentage of Total Equity)

AS ON 14.07.2014

Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Specialty chemicals
Products :	Specialty chemicals
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

10 (Approximately)

Bankers :

Bank Name	Yes Bank Limited
Branch	Nariman Point, Mumbai, 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 Million)	31.03.2013 (Rs. In Million)
LONG TERM BORROWINGS
Term Loans
From Banks
Bank of Baroda	0.000	5.683
Yes Bank Limited	2.955	0.000
Kotak Mahindra Bank	1.624	2.618
From Others
Life Insurance Corporation	2.061	2.061
SHORT TERM BORROWINGS
From Bank
Working Capital Loans from Banks	21.799	22.757
Total	28.439	33.119

Auditors :
Name :	G. M. Kapadia and Company Chartered Accountants
Address :	Tamarind House, 36-B, Tamarind Lane, Fort, Mumbai – 400001, Maharashtra, India
Tel. No.:	91-22-66775555
Mobile No.:	91-22-66775500
PAN N Income-tax PAN of auditor or auditor's firm :	AAAFG4713G
Memberships :	Not Available
Collaborators :	Not Available
Enterprises over which Key Management Personnel have significant influence:	Yashdeep Chemicals (India) Private Limited

CAPITAL STRUCTURE

AS ON 14.07.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
500,000	Equity Shares	Rs.100/- each	Rs. 50.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
190,000	Equity Shares	Rs.10/- each	Rs. 19.000 Million

FINANCIAL DATA

[all figures are in Rupees Million]

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	19.000	20.000	20.000
(b) Reserves & Surplus	146.200	134.797	106.149
(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)	165.200	154.797	126.149
(3) Non-Current Liabilities
(a) long-term borrowings	19.139	27.862	40.870
(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	6.373	6.647	3.298
Total Non-current Liabilities (3)	25.512	34.509	44.168
(4) Current Liabilities
(a) Short term borrowings	27.153	36.645	32.619
(b) Trade payables	64.120	67.483	69.691
(c) Other current liabilities	19.805	22.705	22.695
(d) Short-term provisions	16.395	11.178	15.928
Total Current Liabilities (4)	127.473	138.011	140.933
TOTAL	318.185	327.317	311.250
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	81.927	94.520	106.582
(ii) Intangible Assets	1.048	2.506	3.705
(iii) Capital work-in-progress	0.000	2.321	2.471
(iv) Intangible assets under development	0.000	0.000	0.038
(b) Non-current Investments	0.476	0.269	1.590
(c) Deferred tax assets (net)	7.387	6.721	7.653
(d) Long-term Loan and Advances	9.487	8.834	0.000
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	100.325	115.171	122.039
(2) Current assets
(a) Current investments
(b) Inventories	52.947	35.850	29.210
(c) Trade receivables	114.814	110.850	115.242
(d) Cash and cash equivalents	8.691	32.833	13.778
(e) Short-term loans and advances	41.241	32.437	30.909
(f) Other current assets	0.167	0.176	0.072
Total Current Assets	217.860	212.146	189.211
TOTAL	318.185	327.317	311.250

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	631.193	552.472	545.700
	Other Income	13.125	4.552	N.A
	TOTAL	644.318	557.024	N.A
Less	EXPENSES
	Cost of Materials Consumed	317.146	283.790
	Purchases of Stock-in-Trade
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(15.325)	(4.741)
	Employees benefits expense	76.896	61.721
	Other expenses	150.969	130.051
	TOTAL	529.686	470.821	455.279
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	114.632	86.203	90.421
Less	FINANCIAL EXPENSES	9.179	13.132	17.261
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	105.453	73.071	73.160
Less/ Add	DEPRECIATION/ AMORTISATION	17.925	21.071	23.038
	PROFIT/ (LOSS) BEFORE TAX	87.528	52.000	50.122
Less	TAX	29.335	15.369	21.115
	PROFIT/ (LOSS) AFTER TAX	58.193	36.631	29.007
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	95.249	70.251	52.391
Less	APPROPRIATIONS
	Transfer to General Reserve	5.900	3.650	3.000
	Interim Dividend	30.400	4.000	3.000
	Proposed Dividend	1.900	2.850	4.000
	Tax on Dividend	5.489	1.133	1.147
	Total	43.689	11.633	11.147
	Balance Carried to the B/S	109.753	95.249	70.251
	Earnings / (Loss) Per Share (Rs.)	306.15	183.16	369.74

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	N.A	N.A	N.A
Cash generated from operations	N.A	N.A	N.A

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	9.22	6.63	5.32
Operating Profit Margin (PBIDT/Sales)	(%)	18.16	15.60	16.57
Return on Total Assets (PBT/Total Assets}	(%)	28.21	16.35	16.74
Return on Investment (ROI) (PBT/Networth)		0.53	0.34	0.40
Debt Equity Ratio (Total Debt /Networth)		0.28	0.42	0.58
Current Ratio (Current Asset/Current Liability)		1.71	1.54	1.34

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Share Capital	20.000	20.000	19.000
Reserves & Surplus	106.149	134.797	146.200
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	126.149	154.797	165.200
long-term borrowings	40.870	27.862	19.139
Short term borrowings	32.619	36.645	27.153
CURRENT MATURITIES OF LONG-TERM DEBTS	0.000	0.000	0.000
Total borrowings	73.489	64.507	46.292
Debt/Equity ratio	0.583	0.417	0.280

YEAR-ON-YEAR GROWTH

Year on Year Growth	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	545.700	552.472	631.193
		1.241	14.249

NET PROFIT MARGIN

Net Profit Margin	31.03.2012	31.03.2013	31.03.2014
	(Rs. In Million)	(Rs. In Million)	(Rs. In Million)
Sales	545.700	552.472	631.193
Profit	29.007	36.631	58.193
	5.32%	6.63%	9.22%

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	Yes
12	Voter Id Card No. of Proprietor / Partners	Yes
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	Yes
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last three years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	Yes
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

NOTE: Registered office of the company has been shifted from Fort Mumbai - 400001, Maharashtra, India. to the present address w.e.f. 30.05.2007

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
LONG TERM BORROWINGS
From Director	7.500	10.000
From Member	5.000	7.500
SHORT TERM BORROWINGS
Loan and advance from Related Parties
From Director	0.460	5.840
From Member	4.893	8.048
Total	17.853	31.388

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10561366	27/03/2015	20,000,000.00	Citi Bank N.A.	First International Financial Centre (Fifc), Plot No. c-54 & 55, G-Block, Bkc, Bandra (E),Mumbai, Maharashtra - 400051, India	C50051663
2	10481402	27/01/2014	100,330,000.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI- 400018,, MAHARASHTRA INDIA	B97977979
3	10481184	27/01/2014	135,000,000.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,DR.  ANNIE BESANT ROAD, WORLI,MUMBAI - 400018, MAHARASHTRA, INDIA	B97885032
4	10436510	29/05/2013	100,330,000.00	YES BANK LIMITED	9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR.  ANNIE BESANT ROAD, WORLI, MUMBAI - 400018, MAHARASHTRA, INDIA	B79472106
5	90237359	24/03/2003 *	19,400,000.00	GUJARAT INDUSTRIAL INVESTMENT CORPORATION LTD.	UDYOG BHAWAN, 5; FLOOR; BLOCK NO - 11 & 12; SEC -11, GANDHINAGAR- 382011, MAHARASHTRA, INDIA	-
6	90237193	04/03/1997	713,000.00	RAGHUVANSHI COOPERATIVE BANK LTD.	30/32; RANWADI KABADEVI ROAD, MUMBAI, MAHARASHTRA,  INDIA	-
7	90237185	12/02/1997	1,955,000.00	RAGHUVANSHI COOPERATIVE BANK LTD.	30/32; RAMWASDI; -ST CROSS LANE, KALBADEVI ROAD,  MUMBAI - 400002, MAHARASHTRA, INDIA	-
8	90237126	25/01/1994 *	2,700,000.00	BANK OF BAORDA	BORI BUNDER BRANCH, MUMBAI- 382011, MAHARASHTRA ,  INDIA	-
9	90233744	09/09/1992 *	1,560,000.00	GUJARAT STATE FINANCIAL CORPORATION	JALDARSHAN BUILDING, ASHRAM ROAD, AHMEDABAD- 380009, GUJARAT, INDIA	-

FIXED ASSETS

• Land
• Building
• Plant and equipments
• Furniture and fixture
• Vehicles
• Office equipment
• Laboratory equipment
• Electrical installations
• Computer
  

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.89
UK Pound	1	Rs.97.97
Euro	1	Rs.71.81

INFORMATION DETAILS

Information Gathered by :	SVA
Analysis Done by :	KAR
Report Prepared by :	RKI

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	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		47

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.