MIRA INFORM REPORT

Report No. :	311681
Report Date :	14.03.2015

IDENTIFICATION DETAILS

Name :	BACHI SHOES LIMITED (w.e.f 09.04.2011)
Formerly Known As :	BACHI SHOES (INDIA) PRIVATE LIMITED
Registered Office :	No.47 (Old No.14) Thiyagarajapuram, Vellore – 632001, Tamilnadu
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	14.02.1997
Com. Reg. No.:	18-037515
Capital Investment / Paid-up Capital :	Rs. 0.628 Million
CIN No.: [Company Identification No.]	U18209TN1997PLC037515
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 :	Manufacturer and Exporter of Footwear.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

A (61)

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 2000
Status :	Good
Payment Behaviour :	Regular
Litigation :	Exist
Comments :	Subject is a well-established company having fine track. Financial position of the company seems to be sound. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments. The company can be considered good for normal business dealings at usual trade terms and conditions.

NOTES :

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

ECGC Country Risk Classification List – December 31, 2014

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

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

EXTERNAL AGENCY RATING

Rating Agency Name	ICRA
Rating	Long term rating A+
Rating Explanation	Adequate degree of safety and low credit risk
Date	November 2014

Rating Agency Name	ICRA
Rating	Short term rating A1+
Rating Explanation	Very strong degree of safety and 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 :	No. 47 (Old No.14) Thiyagarajapuram, Vellore – 632001, Tamilnadu, India
Tel. No.:	91-416-420076
Fax No.:	Not Available
E-Mail :	bachiind@bachishoes.com
Factory :	Located at Chittoor
Correspondence Address :	147 Sidco Estate, Sipcot Complex, Ranipet – 632 403, Vellore District, Tamil Nadu, India
Tel. No.:	91-4172-244390/244398
Fax No.:	91-04172-244398/247398
E-Mail :	bachiind@bachishoes.com

DIRECTORS

As on 28.05.2014

Name :

Homiar Sorabji Vacha

Designation :

Director

Address :

Flat No.9, Naroji House, Naigaum Cross Road, Dadar, Mumbai - 400014

Date of Appointment :

05.08.2011

DIN No.:

00016610

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	L31300MH1967PLC016531	FINOLEX CABLES LIMITED	Director	09/09/14	11/06/93	-	Active	NO
2	U24100MH1980PTC022617	BO-CHEM PRIVATE LIMITED	Director	25/07/97	25/07/97	01/04/10	Active	NO
3	U26933KL1991PLC006018	TATA CERAMICS LIMITED	Director	17/09/14	08/02/99	-	Active	NO
4	U65990MH1979PLC021037	AF-TAAB INVESTMENT COMPANY LIMITED	Director	28/11/14	25/11/99	-	Active	NO
5	L28920MH1919PLC000567	THE TATA POWER COMPANY LIMITED	Director	13/08/14	30/03/01	-	Active	NO
6	U51900MH1962PLC012528	TATA INTERNATIONAL LIMITED	Director	08/09/14	28/11/03	-	Active	NO
7	U40109DL2001PLC111526	Tata Power Delhi Distribution Limited	Director	20/05/09	03/01/09	28/11/12	Active	NO
8	U51102TN1996PLC034121	GRAZIELLA SHOES LIMITED	Director	17/09/10	30/03/09	-	Amalgamated	NO
9	U18209TN1997PLC037515	BACHI SHOES LIMITED	Director	05/08/11	24/12/10	-	Active	NO

Name :

Noel Naval Tata

Designation :

Director

Address :

Windmere Cuffe Parade, Colaba, Mumbai - 400005

Date of Appointment :

05.08.2011

DIN No.:

00024713

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	U63040MH1993PTC070465	DKI TRAVEL SERVICES PVT LTD	Director	01/06/94	01/06/94	18/04/11	Active	NO
2	L24240MH1952PLC008951	TRENT LIMITED	Director	05/08/11	18/12/97	-	Active	NO
3	L29308MH1954PLC009371	VOLTAS LIMITED	Director	27/01/03	27/01/03	-	Active	NO
4	L74999TZ1984PLC001456	TITAN COMPANY LIMITED	Nominee director	07/08/03	07/08/03	-	Active	NO
5	U70101MH2004PTC145888	LORIMAR PROPERTIES PRIVATE LIMITED	Director	23/04/04	23/04/04	29/10/12	Active	NO
6	L67200MH1937PLC002622	TATA INVESTMENT CORPORATION LIMITED	Director	09/06/04	09/06/04	-	Active	NO
7	U70102MH1994PTC076582	SATNAM DEVELOPERS AND FINANCE PRIVATE LTD	Nominee director	21/08/04	21/08/04	-	Amalgamated	NO
8	U91990MH2005GAP151959	RETAILERS ASSOCIATION OF INDIA	Director	14/03/05	14/03/05	-	Active	NO
9	U74899DL1995PLC073520	TRENT BRANDS LIMITED	Nominee director	27/04/05	27/04/05	10/05/10	Active	NO
10	U70109MH2006PLC160918	LANDMARK LIMITED (PART IX)	Nominee director	31/03/06	31/03/06	-	Amalgamated	NO
11	U67190MH2005PLC153819	MILESTONE CAPITAL ADVISORS LIMITED	Director	10/05/07	10/05/07	09/09/10	Active	NO
12	U74140MH2007PTC172569	IL&FS MILESTONE REALTY ADVISORS PRIVATE LIMITED	Director	26/09/08	14/08/07	09/09/10	Active	NO
13	U65991MH2007PTC169267	VIRTUOUS TRUSTEES PRIVATE LIMITED	Director	29/09/08	21/09/07	22/12/09	Active	NO
14	U67100MH2007PTC169947	TREXA ADMC PRIVATE LIMITED	Director	11/10/08	21/09/07	29/05/12	Amalgamated	NO
15	L24202MH1920PLC000825	KANSAI NEROLAC PAINTS LIMITED	Director	24/06/08	27/10/07	-	Active	NO
16	U51900MH2008PLC184184	Trent Hypermarket Limited	Nominee director	03/11/14	12/08/08	-	Active	NO
17	U74900HR2009FTC043768	Inditex Trent Retail India Private Limited	Director	27/10/09	27/10/09	-	Active	NO
18	U92411MH1933PLC002813	THE CRICKET CLUB OF INDIA LIMITED	Nominee director	09/04/10	09/04/10	-	Active	NO
19	U51900MH1962PLC012528	TATA INTERNATIONAL LIMITED	Managing director	26/08/10	05/05/10	-	Active	NO
20	U72900MH2000PLC126195	Drive India Enterprise Solutions Limited	Director	08/08/11	01/11/10	-	Active	NO
21	U18209TN1997PLC037515	BACHI SHOES LIMITED	Director	05/08/11	24/12/10	-	Active	NO
22	U52100HR2013FTC051280	MASSIMO DUTTI INDIA PRIVATE LIMITED	Director	12/12/13	12/12/13	-	Active	NO

Name :

Vishwanath Pullela Rajagopal

Designation :

Director

Address :

8-A Thiagarajapuram, Vellore - 632001

Date of Appointment :

14.02.1997

DIN No.:

00417622

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	U18209TN1997PLC037515	BACHI SHOES LIMITED	Director	14/02/97	14/02/97	-	Active	NO
2	U74999TN1997PTC039677	JUPITER SEA & AIR SERVICES PRIVATE LIMITED	Director	26/12/97	26/12/97	-	Active	NO
3	U19116TN2005PLC056665	EURO SHOE COMPONENTS LIMITED	Nominee director	21/06/05	21/06/05	29/03/11	Active	NO
4	U63010TN2008PTC067119	HERCULES CARGO SOLUTIONS PRIVATE LIMITED	Director	02/04/08	02/04/08	05/03/09	Active	NO
5	U51900TN2009PTC073802	RITEBRAND RETAIL PRIVATE LIMITED	Director	08/12/09	08/12/09	-	Active	NO

Name :

Pullala Varadharajulu Gopalakrishna

Designation :

Managing Director

Address :

15, Samimudali Street, Periamet, Chennai - 600003

Date Of Birth/Age :

48 Years

Qualification :

B.com., Diploma Full Shoes Technology

Experience :

20 Years

Date of Appointment :

01.11.2010

DIN No.:

00417691

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	U18209TN1997PLC037515	BACHI SHOES LIMITED	Managing director	01/11/10	05/11/01	-	Active	NO
2	U91110TN2004PTC053638	Consortium of Shoes & Products Manufacturers Private Limited	Director	05/07/04	05/07/04	-	Active	NO
3	U51900TN2009PTC073802	RITEBRAND RETAIL PRIVATE LIMITED	Director	08/12/09	08/12/09	-	Active	NO
4	U19116TN2005PLC056665	EURO SHOE COMPONENTS LIMITED	Whole-time director	01/11/10	01/11/10	-	Active	NO
5	U74994TN1975PTC006993	EVOLV CLOTHING COMPANY PRIVATE LIMITED	Additional director	30/01/15	30/01/15	-	Active	NO

Name :

Ajay Murlidhar Ponkshe

Designation :

Director

Address :

Flat No.3, 1^St Floor, Yashodhan, Sahayog Mandir Path, Naupada, Thane - 400601

Date of Appointment :

05.08.2011

DIN No.:

01663073

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	U19120MH1978PTC147888	CHAMBAL LEATHERS PRIVATE LIMITED	Additional director	12/07/07	12/07/07	22/03/11	Active	NO
2	U19120MH1978PTC147885	NARMADA LEATHERS PRIVATE LIMITED	Director	28/09/07	12/07/07	23/03/11	Active	NO
3	U19120MH1977PTC147887	M. P. LEATHERS PRIVATE LIMITED	Director	28/09/07	12/07/07	18/03/11	Active	NO
4	U19120MH1977PTC147886	DEWAS TANNERIES PRIVATE LIMITED	Director	28/09/07	12/07/07	-	Active	NO
5	U01111DL1989PTC036899	PRAN AGRO SERVICES PRIVATE LIMITED	Director	29/09/07	12/07/07	-	Active	NO
6	U72900MH2000PLC126195	Drive India Enterprise Solutions Limited	Director	16/07/07	16/07/07	-	Active	NO
7	U34200PN2005PTC152193	TATA INTERNATIONAL DLT PRIVATE LIMITED	Director	06/09/07	27/08/07	-	Active	NO
8	U19120MH1978PTC147884	TAPTI LEATHERS PRIVATE LIMITED	Director	28/09/07	28/09/07	07/06/10	Active	NO
9	U51102TN1996PLC034121	GRAZIELLA SHOES LIMITED	Director	17/09/10	30/03/09	-	Amalgamated	NO
10	U19116TN2005PLC056665	EURO SHOE COMPONENTS LIMITED	Director	05/08/11	24/12/10	-	Active	NO
11	U18209TN1997PLC037515	BACHI SHOES LIMITED	Director	05/08/11	24/12/10	-	Active	NO
12	U74140MH1992PLC252981	TRENT RETAIL SERVICES LIMITED	Director	07/08/12	31/01/12	-	Active	NO
13	U19200MH2012PLC229877	TATA INTERNATIONAL WOLVERINE BRANDS LIMITED	Director	18/04/12	18/04/12	-	Active	NO
14	U74999MH1957GOI010918	ECGC Limited	Director	01/10/13	01/10/13	-	Active	NO

KEY EXECUTIVES

Name :	V. Muthukumarn
Designation :	Chief Operating Officer
Date of Birth/Age :	40 Years
Qualification :	Master of Computer Application
Experience :	15 Years

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 28.05.2014

Names of Shareholders	No. of Shares
P.V. Gopalakrishna (Huf)	1508
Tata International Limited	4767
Tata International Limited Jointly With Mr. Ajay Ponkshe	1
Tata International Limited Jointly With Mr. N Mohan	1
Tata International Limited Jointly With Mr. P Vijayaraghvan`	1
Tata International Limited Jointly With Mr. Atul Nagrath	1
Tata International Limited Jointly With Anil Dhar	1
Total	6280

Equity Share Break up (Percentage of Total Equity)

As on 28.05.2014

Category	Percentage
Bodies corporate	76.00
Directors or relatives of Directors	24.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of footwear
Products :	Cow Leather Ladies Sandals Casual Shoes Dress Shoes Children Sandals Uppers Leather boot Uppers Other Components Non leather foot Etc.
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :	Not Divulged
Terms :	Not Divulged

PRODUCTION STATUS NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

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

Customers :

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

No. of Employees :

Not Available

Bankers :

Bank Name	Indian Overseas Bank
Branch	Purasawalkam Branch, No.15, Hunters Road, Chennai - 600112, Tamil Nadu, 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 Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Term loans from banks	12.000	49.812
Short-term borrowings
Loans repayable on demand from banks	345.527	154.031
Other Loans and advances	0.000	161.04
Total	357.527	364.883

Auditors :
Name :	V. S. Athmanathan and Company LLP Chartered Accountants
Address :	Anandha, New No.27 (Old No. 8B), Thyagarajpuram, Vellore - 632001
PAN N Income-tax PAN of auditor or auditor's firm :	AAAFA7552K
Memberships :	Not Available
Collaborators :	Not Available
Subsidiaries :	Euro Shoe Components Limited (U19116TN2005PLC056665) Calsea Footwear Private Limited (U19201TN2005PTC57816)

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
10,000	Equity Shares	Rs.100/- each	Rs.1.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
6,280	Equity Shares	Rs.100/- each	Rs.0.628 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	0.628	0.628	0.628
(b) Reserves & Surplus	887.138	764.064	682.882
(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)	887.766	764.692	683.510
(3) Non-Current Liabilities
(a) long-term borrowings	12.000	49.812	88.164
(b) Deferred tax liabilities (Net)	16.933	1.349	26.515
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	5.598	7.640	5.309
Total Non-current Liabilities (3)	34.531	58.801	119.988
(4) Current Liabilities
(a) Short term borrowings	345.527	315.071	172.551
(b) Trade payables	710.931	638.767	1301.199
(c) Other current liabilities	64.521	58.511	83.020
(d) Short-term provisions	0.035	112.653	98.577
Total Current Liabilities (4)	1121.014	1125.002	1655.347
TOTAL	2043.311	1948.495	2458.845
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	565.707	556.558	537.451
(ii) Intangible Assets	73.208	5.697	4.211
(iii) Capital work-in-progress	3.965	0.000	1.424
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	23.987	31.706	30.360
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	31.155	36.499	8.327
(e) Other Non-current assets	3.112	6.423	2.740
Total Non-Current Assets	701.134	636.883	584.513
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	529.190	522.089	422.689
(c) Trade receivables	130.037	142.964	132.618
(d) Cash and cash equivalents	1.458	15.092	35.622
(e) Short-term loans and advances	102.012	73.765	93.126
(f) Other current assets	579.480	557.702	1190.277
Total Current Assets	1342.177	1311.612	1874.332
TOTAL	2043.311	1948.495	2458.845

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	2415.153	2029.384	1855.238
	Other Income	7.823	30.175	16.563
	TOTAL (A)	2422.976	2059.559	1871.801
Less	EXPENSES
	Cost of Materials Consumed	1165.307	985.829	914.839
	Purchases of Stock-in-Trade	3.781	2.737	2.805
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(39.760)	(53.399)	(12.341)
	Exceptional items	33.222	0.314	(43.407)
	Employees benefits expense	465.166	401.743	329.213
	Other expenses	433.169	380.281	306.228
	TOTAL (B)	2060.885	1717.505	1497.337
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	362.091	342.054	374.464
Less	FINANCIAL EXPENSES (D)	51.434	34.783	36.331
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	310.657	307.271	338.133
Less/ Add	DEPRECIATION/ AMORTISATION (F)	81.719	65.852	55.187
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	228.938	241.419	282.946
Less	TAX (I)	104.684	47.653	112.411
	PROFIT/ (LOSS) AFTER TAX (G-I) (J)	124.254	193.766	170.535
	Earnings / (Loss) Per Share (Rs.)	1978.566	3085.439	2715.527

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	5.14	9.55	9.19
Operating Profit Margin (PBIDT/Sales)	(%)	14.99	16.86	20.18
Return on Total Assets (PBT/Total Assets}	(%)	11.36	12.59	11.66
Return on Investment (ROI) (PBT/Networth)		0.26	0.32	0.41
Debt Equity Ratio (Total Debt /Networth)		0.40	0.48	0.38
Current Ratio (Current Asset/Current Liability)		1.20	1.17	1.13

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	0.628	0.628	0.628
Reserves & Surplus	682.882	764.064	887.138
Net worth	683.510	764.692	887.766
long-term borrowings	88.164	49.812	12.000
Short term borrowings	172.551	315.071	345.527
Total borrowings	260.715	364.883	357.527
Debt/Equity ratio	0.381	0.477	0.403

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	1855.238	2029.384	2415.153
		9.387	19.009

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	1855.238	2029.384	2415.153
Profit	170.535	193.766	124.254
	9.19%	9.55%	5.14%

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	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	No
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	No
21]	Market information	--
22]	Litigations that the firm / promoter involved in	Yes
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

MADRAS HIGH COURT

CASE STATUS INFORMATION SYSTEM

Case Status:	Pending
Status Of:	TAX CASE APPEAL
Case No.:	133
Year :	2014
Petitioner :	COMMISSIONER OF INCOME TAX PRIVATE LIMITED
Respondent :	M/S BACHI SHOES INDIA LIMITED
Pet's Advocate :	M/S.J.NARAYANASWAMY
Res's Advocate :	CHENNAI
Category :	NO CATEGORY MENTIONED
Last Listed on:	Thursday, April 17,2014
Case Updated on :	Wednesday, April 16, 2014

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	90289412	16/06/2005	525,350.00	SUNDARAM FINANCE LTD.	NO. 21 PATULLOS ROAD, CHENNAI, Tamil Nadu - 60000  2, INDIA	-
2	90289371	20/05/2005	421,000.00	SUNDARAM FINANCE LTD.	NO. 21 PATULLOS ROAD, CHENNAI, Tamil Nadu - 60000  2, INDIA	-
3	80037510	15/09/2011 *	807,639,604.00	INDIAN OVERSEAS BANK	PURASAWALKAM BRANCH, NO.15, HUNTERS ROAD, CHENNAI  , Tamil Nadu - 600112, INDIA	B22490908

FIXED ASSETS

Tangible assets

· Land

· Buildings

· Factory building

· Other building

· Plant and equipment

· Furniture and fixtures

· Vehicles

· Ships vessels

· Motor vehicles

· Office equipment

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 records 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.62.67
UK Pound	1	Rs.93.16
Euro	1	Rs.65.42

INFORMATION DETAILS

Analysis Done by :	SUB
Report Prepared by :	GTA

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	7
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	7
--PROFITABILITY	1~10	7
--LIQUIDITY	1~10	7
--LEVERAGE	1~10	7
--RESERVES	1~10	7
--CREDIT LINES	1~10	7
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	YES
--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		61

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.