MIRA INFORM REPORT

Report No. :	320518
Report Date :	11.05.2015

IDENTIFICATION DETAILS

Name :	KORES (INDIA) LIMITED
Registered Office :	301/302, Ashford Chambers, Lady Jamshedji Road, Mahim (West), Mumbai – 400016, Maharashtra
Tel. No.:	91-22-24476800
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	26.05.1936
Com. Reg. No.:	11-002494
Capital Investment / Paid-up Capital :	Rs. 130.000 Million
CIN No.: [Company Identification No.]	U21198MH1936PLC002494
TAN No.: [Tax Deduction & Collection Account No.]	MUMK12588C / MUMK12076B / MUMK11758F
PAN No.: [Permanent Account No.]	AAACK5069Q
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturer of Stationery Items and Pharmaceutical
No. of Employees :	Information Decline By The Management

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

Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. Profitability of the company seems to be low during 2014. However, financial position of the company seems to be decent. Trade relations are reported to be fair. Business is active. Payments are reported to be slow but correct. The company can be considered for normal 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 – 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	CRISIL
Rating	Long Term Rating = BBB-
Rating Explanation	Have moderate degree of safety and carry moderate credit risk
Date	28.07.2014

Rating Agency Name	CRISIL
Rating	Short Term Rating = A3
Rating Explanation	Have moderate degree of safety and carry higher credit risk
Date	28.07.2014

Note: Case site not working

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

NOT AVAILABLE

LOCATIONS

Registered Office :	301/302, Ashford Chambers, Lady Jamshedji Road, Mahim (West), Mumbai – 400016, Maharashtra
Tel. No.:	91-22-24476800
Fax No.:	91-22-24476999
E-Mail :	info@kores-india.com legal@kores-india.com response@kores-india.com sunilcs2004@rediffmail.com
Website :	http://www.kores-india.com

DIRECTORS

As on 30.09.2014

Name :

Mr. Sushil Kumar Thirani

Designation :

Chairman and Whole Time Director

Address :

Flat No. 7, A wing, Sea Face Apartment, 50, Bhulabhai Desai Road, Mumbai-400026, Maharashtra, India

Date of Birth/Age :

20.10.1930

Qualification :

Inter Science

Date of Appointment :

01.03.2009

DIN No.:

00082283

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	U21198MH1936PLC002494	KORES (INDIA) LIMITED	Whole-time director	01-03-2009	30-11-1956	-	Active	NO
2	U45209WB1949PTC024424	SHASHI FINANCE PVT LTD	Director	24-10-1982	24-10-1982	-	Strike off	NO
3	U65990MH1959PTC045435	SHASHI FINANCE PRIVATE LIMITED	Director	24-10-1982	24-10-1982	-	Active	NO
4	U51909MH1983PLC030389	KORES SERVICES LIMITED	Director	11-07-1983	11-07-1983	05-06-2009	Active	NO
5	L65990MH1971PLC015137	FUTURISTIC SECURITIES LIMITED	Director	16-10-1986	16-10-1986	-	Active	NO
6	U65990MH1981PLC025482	VISHVAKIRTI CONSULTANCY LIMITED	Director	31-08-1990	31-08-1990	-	Active	NO

Name :

Mr. Anand Kumar Thirani

Designation :

Managing Director

Address :

Flat No. 19 and 20, Firpose Co-operative Society Limited, 47A-Bhulabhai Desai Road, Mumbai-400026, Maharashtra, India

Date of Birth/Age :

03.09.1956

Qualification :

B. Com.

Date of Appointment :

01.05.2012

DIN No.:

00082344

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	U45209WB1949PTC024424	SHASHI FINANCE PVT LTD	Director	12-02-1980	12-02-1980	-	Strike off	NO
2	U65990MH1959PTC045435	SHASHI FINANCE PRIVATE LIMITED	Director	12-02-1980	12-02-1980	-	Active	NO
3	U21198MH1936PLC002494	KORES (INDIA) LIMITED	Managing director	01-05-2012	29-05-1981	-	Active	NO
4	U51909MH1983PLC030389	KORES SERVICES LIMITED	Director	11-07-1983	11-07-1983	05-06-2009	Active	NO
5	U51900MH1987PTC042413	KORES INTERNATIONAL PRIVATE LIMITED	Director	21-11-1990	21-11-1990	18-06-2007	Active	NO
6	U65990MH1981PLC025482	VISHVAKIRTI CONSULTANCY LIMITED	Director	12-06-1997	12-06-1997	-	Active	NO
7	U28920PN2006PTC022035	AUM HIGH POWER PLATING AND EQUIPMENTS PRIVATE LIMITED	Director	30-09-2013	01-02-2013	07-10-2013	Active	NO
8	U31503KA2013PTC071934	ARRAYSTORM LIGHTING PRIVATE LIMITED	Additional director	24-07-2014	24-07-2014	-	Active	NO

Name :

Mr. Rajkumar Hanumanprasad Saboo

Designation :

Whole Time Director

Address :

Flat No. 1902, C Wing, Gundecha Garden, Lal Baug, Mumbai-400012, Maharashtra, India

Date of Birth/Age :

19.12.1964

Date of Appointment :

01.04.2012

DIN No.:

00053600

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	U21198MH1936PLC002494	KORES (INDIA) LIMITED	Whole-time director	01-04-2012	01-04-2005	-	Active	NO
2	U31503KA2013PTC071934	ARRAYSTORM LIGHTING PRIVATE LIMITED	Additional director	24-07-2014	24-07-2014	-	Active	NO

Name :

Mr. Jagdish Prasad Gupta

Designation :

Director

Address :

Flat No. 104, Azalea Apartments, Naber, Pune-411045, Maharashtra, India

Date of Birth/Age :

15.10.1935

Date of Appointment :

03.09.2014

DIN No.:

00053681

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	U33129MH1988PTC047183	MATRIX BUSINESS MACHINES PRIVATE LIMITED	Director	05-11-1996	05-11-1996	-	Active	NO
2	U21198MH1936PLC002494	KORES (INDIA) LIMITED	Director	03-09-2014	20-11-1997	-	Active	NO

Name :

Mr. Satish Kantilal Patel

Designation :

Director

Address :

604, Sibylle Apartments, 65, Worlihill Estate, Worli, Mumbai-400018, Maharashtra, India

Date of Birth/Age :

16.05.1936

Date of Appointment :

03.09.2014

DIN No.:

00081904

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	U21198MH1936PLC002494	KORES (INDIA) LIMITED	Director	03-09-2014	26-08-2004	-	Active	NO

Name :

Mr. Sameer Ashok Mehta

Designation :

Director

Address :

702, Sukh Sagar Building, Sir Bhalchandra Road, Matunga, Mumbai – 400019, Maharasahtra, India

Date of Birth/Age :

29.11.1976

Date of Appointment :

14.08.2013

DIN No.:

02945481

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	U21198MH1936PLC002494	KORES (INDIA) LIMITED	Director	14-08-2013	02-03-2010	-	Active	NO
2	U52300MH2013PTC249758	IMAGINE MARKETING PRIVATE LIMITED	Director	01-11-2013	01-11-2013	-	Active	NO

Name :

Mr. Vivek Prakash Bagri

Designation :

Director

Address :

Uday Niwas, 29D, Dopngarsi Road, Malabar Hill, Mumbai – 400006, Maharashtra, Inida

Date of Birth/Age :

08.09.1980

Date of Appointment :

15.05.2013

DIN No.:

03527490

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	U93030MH2011PTC217606	LIVEDARSHAN INDIA PRIVATE LIMITED	Director	18-05-2011	18-05-2011	-	Active	NO
2	U21198MH1936PLC002494	KORES (INDIA) LIMITED	Director	14-08-2013	17-05-2013	-	Active	NO
3	U31503KA2013PTC071934	ARRAYSTORM LIGHTING PRIVATE LIMITED	Additional director	24-07-2014	24-07-2014	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Vishnu Ramchand Murkar
Designation :	Secretary
Address :	A-404, New Shreenath Complex Co-operative Society Mira Bhayander Road, Mira Road, Thane – 401107, Maharashtra, India
Date of Birth/Age :	01.06.1979
Date of Appointment :	02.04.2012
PAN No.:	AHLPM0620L

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2013

SHAREHOLDING DETAILS FILE ATTACHED

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2014

Category	Percentage
Bodies corporate	39.54
Directors or relatives of Directors	51.69
Other top fifty shareholders	7.74
Others	1.03
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Stationery Items and Pharmaceutical
Products :	Counting Machines Punching Machines Ball Pens Pen and Pencil Carbon Papers etc.
Brand Names :	Not Available
Agencies Held :	Not Available
Exports :	Not Available
Imports :	Not Available
Terms :	Not Available

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 :

Information Decline By The Management

Bankers :

• ICICI Bank Limited - ICICI Bank Tower Bandra Kurla Complex Bandra East, Mumbai - 400051, Maharashtra, India

• Central Bank Of India - Corporate Finance Branch, Ist Floor, Mmo Building, M. G. Road, Mumbai - 400023, Maharashtra, India

• Kotak Mahindra Bank Limited - 36-38a, Nariman Bhavan, 227,D, Nariman Point,, Mumbai - 400021, Maharashtra, India

• State Bank Of India - Industrial Finance Branch, The Arcade, 2nd Floor, World Trade Centre, Cuffe Parade, Colaba, Mumbai - 400005, Maharashtra, India

• State Bank Of Indore - Empire House, 214, D.N. Road, Fort,, Mumbai - 400001, Maharashtra, India

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Term loans from banks	147.442	477.673
Rupee term loans from others	4.200	6.172
Working capital loans from banks	52.873	64.394
Loans and advances from related parties	72.100	58.600
Long-term maturities of finance lease obligations [Member]	74.586	204.188
Short-term borrowings
Loans repayable on demand	615.733	598.496
Deferred payment liabilities	0.000	1.799
Deposits	260.364	106.198
Total	1227.298	1517.520

Auditors :
Name :	Singhi and Company Chartered Accountants
Address :	901 A Twin Towers Lokhandwala Complex, Andheri (West), Mumbai, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAQFS5579C
Memberships :	Not Available
Collaborators :	Not Available
Associates :	KORES SERVICES LIMITED – INDIA, (U51909MH1983PLC030389) SOLAR PACKAGING PRIVATE LIMITED – INDIA, (U74950MH1969PTC014381) PEPEGA ( INSULATION AND PACKAGING ) LIMITED– INDIA, (U21000MH1971PLC015347) QUALITY INKS PRIVATE LIMITED – INDIA, (U36991MH1961PTC012155) SHRI AMARSINHJI STATIONERY INDUSTRIES LIMITED – INDIA, (L99999GJ1932PLC000727) Art Enterprises – INDIA LIVEDARSHAN INDIA PRIVATE LIMITED– INDIA, (U93030MH2011PTC217606) SHASHI FINANCE PRIVATE LIMITED – INDIA, (U65990MH1959PTC045435) AUM HIGH POWER PLATING AND EQUIPMENTS PRIVATE LIMITED – INDIA, (U28920PN2006PTC022035) MATRIX BUSINESS MACHINES PRIVATE LIMITED – INDIA, (U33129MH1988PTC047183)

CAPITAL STRUCTURE

As on 31.03.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
15000000	Equity Shares	Rs.10/- each	Rs.150.000 Million
250000	Preference Shares	Rs.100/- each	Rs.25.000 Million
	Total		Rs. 175.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
11000000	Equity Shares	Rs.10/- each	Rs.110.000 Million
200.000	Preference Shares	Rs.100/- each	Rs. 20.000 Million
	Total		Rs. 130.000 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	130.000	130.000	130.000
(b) Reserves & Surplus	744.665	703.055	792.396
(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)	874.665	833.055	922.396
(3) Non-Current Liabilities
(a) long-term borrowings	373.041	837.605	738.069
(b) Deferred tax liabilities (Net)	0.000	0.000	10.706
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	116.728	118.256	104.964
Total Non-current Liabilities (3)	489.769	955.861	853.739
(4) Current Liabilities
(a) Short term borrowings	876.097	706.493	865.530
(b) Trade payables	1466.038	1236.057	1357.296
(c) Other current liabilities	343.185	552.987	543.097
(d) Short-term provisions	19.659	24.179	34.430
Total Current Liabilities (4)	2704.979	2519.716	2800.353
TOTAL	4069.413	4308.632	4576.488
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1375.039	1786.118	1741.642
(ii) Intangible Assets	0.923	2.291	2.959
(iii) Capital work-in-progress	16.237	20.157	64.513
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	7.525	8.331	10.022
(c) Deferred tax assets (net)	51.067	38.197	0.000
(d) Long-term Loan and Advances	5.599	9.514	10.976
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	1456.390	1864.608	1830.112
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	1069.880	836.662	900.629
(c) Trade receivables	1009.594	1075.949	1286.713
(d) Cash and cash equivalents	65.473	78.362	63.992
(e) Short-term loans and advances	466.305	450.644	483.134
(f) Other current assets	1.771	2.407	2.908
Total Current Assets	2613.023	2444.024	2737.376
TOTAL	4069.413	4308.632	4567.488

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	6463.425	6534.978	7507.496
	Other Income	98.200	33.151	31.783
	TOTAL (A)	6561.625	6568.129	7539.279
Less	EXPENSES
	Cost of Materials Consumed	2369.819	2288.635	2938.353
	Purchases of Stock-in-Trade	1887.822	1856.749	2116.060
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(234.777)	20.150	(115.922)
	Employees benefits expense	683.564	674.574	684.556
	Other expenses	1400.483	1445.457	1658.906
	Extraordinary Items	38.737	0.674	0.094
	Expenditure on production, transportation and other expenditure pertaining to E&O activities)	1.571	0.000	0.000
	TOTAL (B)	6147.219	6286.239	7282.047
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	414.406	281.890	257.232
Less	FINANCIAL EXPENSES (D)	216.411	254.590	253.953
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	197.995	27.300	3.279
Less/ Add	DEPRECIATION/ AMORTISATION (F)	159.992	165.264	183.115
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	38.003	(137.964)	(179.836)
Less	TAX (H)	(3.605)	(48.623)	(43.844)
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	41.608	(89.341)	(135.992)
	Earnings / (Loss) Per Share (Rs.)	3.58	(8.32)	(1.2560

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	0.64	(1.37)	(1.81)
Operating Profit Margin (PBIDT/Sales)	(%)	6.41	4.31	3.43
Return on Total Assets (PBT/Total Assets}	(%)	0.95	(3.25)	(4.00)
Return on Investment (ROI) (PBT/Networth)		0.04	(0.17)	(0.19)
Debt Equity Ratio (Total Debt /Networth)		1.43	1.85	1.74
Current Ratio (Current Asset/Current Liability)		0.97	0.97	0.98

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	130.000	130.000	130.000
Reserves & Surplus	792.396	703.055	744.665
Net worth	922.396	833.055	874.665
long-term borrowings	738.069	837.605	373.041
Short term borrowings	865.530	706.493	876.097
Total borrowings	1603.599	1544.098	1249.138
Debt/Equity ratio	1.739	1.854	1.428

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	7507.496	6534.978	6463.425
		(12.954)	(1.095)

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	7507.496	6534.978	6463.425
Profit	(135.992)	(89.341)	41.608
	(1.81%)	(1.37%)	0.64%

LOCAL AGENCY FURTHER INFORMATION

CURRENT MATURITIES OF LONG-TERM DEBT DETAILS:

Particulars	31.03.2014	31.03.2013	31.03.2012
	(Rs. In Million)
Current maturities of long-term debt	0.000	218.138	194.277
Total	0.000	218.138	194.277

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: Registered Office of the Company Has Been Shifted from Kores House Plot No 10 off Dr. E Moses Road Worli Mumbai Maharashtra India 400018 to the Present Address W.E.F. 10.06.2011

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Deferred payment Indian sources	21.840	26.578
Total	21.840	26.578

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10550618	27/01/2015	40,000,000.00	DEUTSCHE BANK AG	DEUTSCHE BANK HOUSE, HAZARIMAL SOMANI MARG, FORT,  MUMBAI- 400001, MAHARASHTRA, INDIA	C44213890
2	10549236	22/01/2015	50,000,000.00	DEUTSCHE BANK AG	P.O. BOX NO. 9080, GOREGAON(EAST), MUMBAI 400063,  MUMBAI, MAHARASHTRA , INDIA	C43436781
3	10549446	22/01/2015	60,000,000.00	DEUTSCHE BANK AG	P.O. BOX NO. 9080, GOREGAON(EAST), MUMBAI 400063,MAHARASHTRA - INDIA	C43446293
4	10537541	29/11/2014	40,000,000.00	TATA CAPITAL FINANCIAL SERVICES LIMITED	ONE FORBES,, DR. V. B. GANDHI MARG, FORT, MUMBAI,  MAHARASHTRA - 400001, INDIA	C37464708
5	10516261	31/07/2014	18,520,725.00	SIEMENS FINANCIAL SERVICES PRIVATE LIMITED	130, PANDURANG BUDHKAR MARG,, WORLI, MUMBAI, Maharashtra - 400018, INDIA	C17648692
6	10483549	22/02/2014	154,700,000.00	DENA BANK	Industrial Finance Branch, 1st Floor,, 17, Horniman Circle, Fort, MUMBAI, Maharashtra - 400023, INDIA	B98891096
7	10241933	07/09/2010	99,500,000.00	CENTRAL BANK OF INDIA	CORPORATE FINANCE BRANCH,IST FLOOR, MMO BUILDING,  M.G.ROAD, MUMBAI, Maharashtra - 400023, INDIA	A95642153
8	10193856	30/12/2009	10,000,000.00	TATA CAPITAL LIMITED	ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, Maharashtra - 400001, INDIA	A76460278
9	10171970	29/07/2009	12,500,000.00	TATA CAPITAL LIMITED	ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, Maharashtra - 400001, INDIA	A67585737
10	10152248	13/03/2009	100,600,000.00	CENTRAL BANK OF INDIA	CORPORATE FINANCE BRANCH,, IST FLOOR ,M.M.O. BUILDING,M.G.ROAD,FORT, MUMBAI, Maharashtra - 400023,  INDIA	A60006475

* Date of charge modification

FIXED ASSETS

Tangible assets

• Land
• Buildings
• Plant and equipment
• Furniture and fixtures
• Vehicles
• Office equipment
• Leasehold improvements

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.64.05
UK Pound	1	Rs.99.04
Euro	1	Rs.71.76

INFORMATION DETAILS

Analysis Done by :	RAS
Report Prepared by :	GTA

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	6
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--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.