MIRA INFORM REPORT

Report No. :	348008
Report Date :	10.11.2015

IDENTIFICATION DETAILS

Name :	RMG POLYVINYL INDIA LIMITED (w.e.f. 12.09.2003)
Formerly Known As :	PINE VIEW CONSTRUCTION AND TRADERS PRIVATE LIMITED
Registered Office :	10585, Pahar Ganj, Nabi Karim, Paharganj, Delhi - 110055
Tel. No.:	91-11-23637481
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	11.09.1998
Com. Reg. No.:	55-096206
Capital Investment / Paid-up Capital :	Rs.154.250 Million
CIN No.: [Company Identification No.]	U74899DL1998PLC096206
IEC No.:	0598052674
TAN No.: [Tax Deduction & Collection Account No.]	DELR08012E DELR09971D
PAN No.: [Permanent Account No.]	AAACG2886R
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is engaged in Manufacturer and Seller of PVC films and sheets.
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 960000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject was acquired by Mr. Arvind Goenka in 2002. It manufactures vinyl flooring and synthetic. The company has a manufacturing facility in Uttar Pradesh and caters to domestic as well as international markets; it markets its products under the Wonderfloor brand. It has satisfactory track record. The company possesses a decent profile marked by decent networth base along with fair liquidity and profitability. Trade relations are fair. Business is active. Payment are reported to be usually correct. The company can be considered normal for 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 – 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 (Suspended)
Rating Explanation	Have moderate degree of safety and carry moderate credit risk.
Date	26.06.2015

Rating Agency Name	CRISIL
Rating	Short Term Rating = A3+ (Suspended)
Rating Explanation	Have moderate degree of safety and carry very higher credit risk.
Date	26.06.2015

Reason: The suspension of ratings is on account of non-cooperation by RMG with CRISIL's efforts to undertake a review of the ratings outstanding.

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 31-03-2015.

INFORMATION DENIED

MANAGEMENT NON-COOPERATIVE (Tel No.91-120-3118802/1/ 11-41632022)

LOCATIONS

Registered Office :	10585, Pahar Ganj, Nabi Karim, Paharganj, Delhi – 110055, India
Tel. No.:	Not Available
E-Mail :	info@rmgpoly.com
Website:	http:www.rmgpoly.com/contact-us.php
Head Office :	UGSR – IV, Ansal Plaza, Sector – I, Vaishali Ghaziabad – 201010, Uttar Pradesh, India
Tel. No.:	91-120-3118801 / 02
Fax No.:	91-11-66173679
E-Mail :	info@rmgpoly.com
Factory :	10/1, Industrial Area, Sikandrabad, District Bulandshar - 203205, Uttar Pradesh, India
Area :	16 Acres
Location :	Owned
Marketing Office:	Located at: Ahmedabad Bangalore Bhubaneswar Chandigarh Chennai Patna Lucknow Mumbai Guwahati Raipur Indore Hyderabad Pune

DIRECTORS

As on 26.09.2014

Name :

Mr. Arvind Goenka

Designation :

Whole Time Director

Address :

No.1, Green Avenue, Sector D-3, Vasant Kunj, New Delhi-110070, India

Date of Birth/Age :

03.10.1964

Qualification :

B.Com (HONS)

Date of Appointment :

01.02.2015

PAN No.:

ACTPG1708Q

DIN No.:

00061010

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	U74899DL1983PTC016849	HARYANA WOVEN SACK PRIVATE LIMITED	Director	31/10/1991	31/10/1991	19/07/2008	Active	NO
2	U25209DL1988PLC030793	KAY ESS POLYMERS LIMITED	Director	01/05/1996	01/05/1996	-	Active	NO
3	U25200MH1955NPL009601	THE PLASTICS EXPORT PROMOTION COUNCIL	Director	29/09/2011	10/01/2004	-	Active	NO
4	U74899DL1998PLC096206	RMG POLYVINYL INDIA LIMITED	Whole-time director	01/02/2015	10/01/2004	-	Active	NO
5	L25209DL1992PLC049590	PREMIER POLYFILM LIMITED	Director	26/10/2007	15/11/2006	21/07/2008	Active	NO
6	L51491WB1929PLC006467	D L MILLAR AND CMPANY LIMITED	Director	23/09/2008	14/10/2007	31/03/2010	Active	NO

Name :

Mrs. Indira Goenka

Designation :

Director

Address :

No.1, Green Avenue, Sector D-3, Vasant Kunj, New Delhi-110070, India

Date of Birth/Age :

08.18.1946

Qualification :

B.A.

Experience :

36 Years

Date of Appointment :

05.07.2006

DIN No.:

00061078

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	L74999DL1984PLC017713	PREMIER POLYPLAST AND PROCESSORS LIMITED	Director	03/01/1994	03/01/1994	-	Active	NO
2	U74899DL1998PLC096206	RMG POLYVINYL INDIA LIMITED	Director	05/07/2006	05/07/2006	-	Active	NO

Mr. Umesh Agarwal

Name :

Director

Designation :

B-705, Badrinath Apartment, Malad, Mumbai, Maharashtra, India

Address :

13.10.1953

Date of Birth/Age :

B.E.

Experience :

26 Years

Date of Appointment :

23.07.2002

DIN No.:

00231799

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	U72900MH1982PLC028908	POLO QUEEN INFOTECH AND TEXTILE LIMITED	Director	12/06/1987	12/06/1987	-	Amalgamated	NO
2	L72200MH1984PLC094539	POLO QUEEN INDUSTRIAL AND FINTECH LIMITED	Whole-time director	01/04/2014	27/09/1993	-	Active	NO
3	U15500MH1996PLC100602	AAJIWAN INDUSTRIES LIMITED	Director	29/03/2000	29/03/2000	-	Active	NO
4	U70100MH1984PLC032898	ARJAY APPAREL INDUSTRIES LIMITED	Director	18/08/2001	18/08/2001	-	Active	NO
5	U18101MH1981PLC024335	SOMESHWARA INDUSTRIES AND EXPORTS LIMITED	Director	27/08/2001	27/08/2001	-	Active	NO
6	U74899DL1998PLC096206	RMG POLYVINYL INDIA LIMITED	Director	23/07/2002	23/07/2002	-	Active	NO
7	U18101DL1992PLC049502	SRI VISHVANATH ENTERPRISES LIMITED	Director	23/07/2002	23/07/2002	-	Active	NO
8	U51311MH1982PLC027820	BALAJI PRINTS LIMITED	Director	28/04/2003	28/04/2003	-	Active	NO
9	U45201MH1998PTC114282	BOW BALALESHWAR MININGS PRIVATE LIMITED	Director	14/12/2006	14/12/2006	-	Active	NO
10	U45400MH2007PTC174208	GYANESHWAR INFRASTRUCTURE PRIVATE LIMITED	Additional director	25/11/2010	25/11/2010	-	Active	NO
11	U93030MH2013PLC250646	R. J. KNITWEARS LIMITED	Director	02/12/2013	02/12/2013	-	Active	NO

Name :

Mr. Ratnesh Kumar Gupta

Designation :

Director

Address :

I-34, Lajpat Nagar, II Floor, New Delhi - 110024, India

Date of Appointment :

26.09.2014

DIN No.:

00330505

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	L51909DL1984PLC018938	HINDUSTAN COMMERCIAL COMPANY LIMITED	Director	20/09/1987	20/09/1987	14/05/2013	Active	NO
2	U72200DL2005PTC134889	EXCELENT COMPUSYS PRIVATE LIMITED	Director	24/12/2007	24/12/2007	-	Active	NO
3	L67120WB1981PLC033628	LITTLE ROCK TRADE AND INVESTMENT LTD	Director	29/09/2008	31/01/2008	14/05/2013	Active	NO
4	U74899DL1998PLC096206	RMG POLYVINYL INDIA LIMITED	Director	26/09/2014	26/09/2014	-	Active	NO

Name :

Mr. Sanjeev Kumar

Designation :

Director

Address :

16 Brindavan Garden, Near Ghaziabad Public School, Sahibabad, Ghaziabad, 201005, Uttar Pradesh, India

Date of Appointment :

26.09.2014

DIN No.:

06769054

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	U74899DL1998PLC096206	RMG POLYVINYL INDIA LIMITED	Director	26/09/2014	23/12/2013	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Manoj Agarwal
Designation :	Chief Financial Officer
Address :	C-34G-5, Model Town West, Ghaziabad - 201001, Uttar Pradesh, India
Date of Appointment :	29.05.2014
PAN No.:	AEPPA5476B
Name :	Mr. Dhwani Sharma
Designation :	Secretary
Address :	Pocket A, Flat No. 355,, Sarita Vihar, New Delhi - 110076, India
Date of Appointment :	25.05.2015
PAN No.:	BDFPD0628A

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 26.09.2014

Names of Shareholders	No. of Shares
Manvi Goneka	780500
Nisha Goneka	3168580
Arvind Goneka	1951480
Sunhil Leasing and Finance (Private) Limited, India	4902250
Amitabh Goneka	750480
Arvind Goneka (HUF)	100000
Puran Dass Taneja	75000
Sri Vishwanath Enterprises Limited, India	2017500
D. L. Millar and Company Limited	360000
Indira Goenka	235750
Premier Polyplast and Processors Limited, India	30000
Vijay Chand Sukhani	330000
Amitabh Goenka (HUF)	62500
Jarella Baba Leasing and Finance Private Limited, India	135000
Manoj Kumar Gupta (HUF)	960
Sanghai Holding private Limited.	525000
Total	15425000

As on 01.08.2015

Names of Allottees	No. of Shares
Jarella Baba Finance Company Private Limited, India	67500
Sunhil Leasing and Finance (Private) Limited, India	2451125
Sanghai Holding private Limited.	262500
Sri Vishwanath Enterprises Limited, India	1008750
Puran Dass Taneja	37500
Vijay Chand Sukhani	165000
Manoj Kumar Gupta (HUF)	480
Manvi Goenka w/o shri Amitabh Goenka	390250
Nisha Goneka	1621790
Arvind Goneka	975740
Amitabh Goenka (HUF)	337740
Arvind Goneka	50000
D. L. Millar and Company Limited	180000
Indira Goenka	117875
Premier Polyplast and Processors Limited, India	15000
Amitabh Goenka (HUF)	31250
Total	7712500

Equity Share Break up (Percentage of Total Equity)

As on 26.09.2014

Category	Percentage
Bodies corporate	49.14
Directors or relatives of Directors	48.23
Other top fifty shareholders	2.63
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in Manufacturer and Seller of PVC films and sheets.

Products :

Item Code No.	Product Description
P V C Resins/Films/Sheets	39042210

Brand Names :

“WONDERFLOOR”

Agencies Held :

Not Available

Exports :

Not Divulged

Imports :

Not Divulged

Terms :

Not Divulged

PRODUCTION STATUS NOT AVAILABLE

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 :

Information declined by the management

Bankers :

Bank Name	State Bank of India
Branch	SME Branch, Ajmal Khan Road, Karol Bagh, New Delhi - 110005, 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

State Bank of India, SME Town Hall, Chandni Chowk, Delhi, India

Facilities :

Secured Loan	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Long-term Borrowings
Term Loan from Banks	40.454	67.964
Other loans and advances	0.704	2.462
Short-term borrowings
Working Capital loans from banks	79.466	79.742
Total	120.624	150.168

Auditors :
Name :	M A R S and Associate Chartered Accountants
Address :	FB-20, Shivaji Enclave, New Delhi-110027, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAVFM1242M
Memberships :	--
Collaborators :	--
Associates :	Joemillars Aquatex Private, Limited (U25209DL2003PTC118535) Sunhil Leasing and Finance Company Private Limited, India (U74899DL1995PTC072212) G. B. and Company Premier Polyplast and Processors Limited, India (L74999DL1984PLC017713) Aaj Iwan Industries Limited, India Sri Vishvanath Enterprises Limited, India (U18101DL1992PLC049502) D L Millar and Company Limited, India

CAPITAL STRUCTURE

After 26.09.2014

Authorised Capital : Rs. 270.000 Million

Issued, Subscribed & Paid-up Capital : Rs. 246.432

As on 26.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
17500000	Equity Shares	Rs.10/- each	Rs.175.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
15425000	Equity Shares	Rs.10/- each	Rs.154.250 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	154.250	154.250	154.250
(b) Reserves & Surplus	180.297	161.358	141.618
(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)	334.547	315.608	295.868
(3) Non-Current Liabilities
(a) long-term borrowings	41.158	70.426	15.959
(b) Deferred tax liabilities (Net)	32.572	26.694	21.309
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	11.288	10.192	6.587
Total Non-current Liabilities (3)	85.018	107.312	43.855
(4) Current Liabilities
(a) Short term borrowings	152.476	115.542	129.263
(b) Trade payables	171.920	124.248	62.718
(c) Other current liabilities	53.849	40.071	41.614
(d) Short-term provisions	31.626	32.089	29.861
Total Current Liabilities (4)	409.871	311.950	263.456
TOTAL	829.436	734.870	603.179
II.          ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	329.509	316.560	231.031
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.930	8.730	7.737
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	1.606
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	9.971	9.927	7.771
(e) Other Non-current assets	2.132	2.149	1.767
Total Non-Current Assets	342.542	337.366	249.912
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	269.378	213.623	187.343
(c) Trade receivables	151.084	128.676	123.177
(d) Cash and cash equivalents	34.264	29.140	14.468
(e) Short-term loans and advances	30.225	24.176	27.397
(f) Other current assets	1.943	1.889	0.882
Total Current Assets	486.894	397.504	353.267
TOTAL	829.436	734.870	603.179

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	1458.352	1187.222	1016.409
	Other Income	5.615	13.213	14.647
	TOTAL (A)	1463.967	1200.435	1031.056
Less	EXPENSES
	Cost of Materials Consumed	1055.016	862.504	706.992
	Purchases of Stock-in-Trade	53.098	29.113	50.754
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(23.527)	(22.171)	(8.924)
	Employees benefits expense	68.897	56.829	46.572
	Other expenses	213.354	182.844	154.582
	TOTAL (B)	1366.838	1109.119	949.976
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)	97.129	91.316	81.080
Less	FINANCIAL EXPENSES (D)	22.562	20.556	22.054
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)	74.567	70.760	59.026
Less/ Add	DEPRECIATION/ AMORTISATION (F)	19.341	14.498	11.695
	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)	55.226	56.262	47.331
Less	TAX (H)	18.120	18.595	15.428
	PROFIT/ (LOSS) AFTER TAX (G-H) (I)	37.106	37.667	31.903
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD (K)	17.988	8.248	54.082
Less	APPROPRIATIONS
	Bonus Shares	0.000	0.000	49.750
	Transfer to General Reserve	10.000	10.000	10.000
	Dividend	15.425	15.425	15.425
	Tax on Dividend	2.621	2.502	2.562
	Total (M)	28.046	27.927	77.737
	Balance Carried to the B/S (J+K+L-M)	27.048	17.988	8.248
	EARNINGS IN FOREIGN CURRENCY
	F.O.B. Value of Exports	246.341	269.100	238.800
	TOTAL EARNINGS	246.341	269.100	238.800
	Earnings / (Loss) Per Share (Rs.)	2.41	2.44	2.07

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	14.614	0.000	NA
Cash generated from operations	NA	NA	NA
Net cash flow from operating activity	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	2.54	3.17	3.14
Operating Profit Margin (PBIDT/Sales)	(%)	6.66	7.69	7.98
Return on Total Assets (PBT/Total Assets}	(%)	6.67	7.75	7.97
Return on Investment (ROI) (PBT/Networth)		0.17	0.18	0.16
Debt Equity Ratio (Total Debt /Networth)		0.62	0.59	0.49
Current Ratio (Current Asset/Current Liability)		1.19	1.27	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	154.250	154.250	154.250
Reserves & Surplus	141.618	161.358	180.297
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	0.000	0.000
Net worth	295.868	315.608	334.547
long-term borrowings	15.959	70.426	41.158
Short term borrowings	129.263	115.542	152.476
Total borrowings	145.222	185.968	208.248
Debt/Equity ratio	0.491	0.589	0.622

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	1016.409	1187.222	1458.352
		16.806	22.837

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	1016.409	1187.222	1458.352
Profit	31.903	37.667	37.106
	3.14%	3.17%	2.54%

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	Yes
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	No
8	Designation of contact person	No
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	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	No
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

UNSECURED LOAN

PARTICULARS	31.03.2014 (Rs. in Million)	31.03.2013 (Rs. in Million)
Short-term borrowings
Loans and advances from related parties	73.010	35.800
Total	73.010	35.800

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10059280	24/07/2007	20,000,000.00	STATE BANK OF INDORE	394, GANGA NIWAS, CHANDNI CHOWK, DELHI, Delhi - 110006, INDIA	A18920678
2	10059278	18/08/2009 *	80,000,000.00	STATE BANK OF INDORE	394, GANGA NIWAS, CHANDNI CHOWK, DELHI, Delhi - 110006, INDIA	A67898627
3	10059279	18/08/2009 *	100,000,000.00	STATE BANK OF INDORE	394, GANGA NIWAS, CHANDNI CHOWK, DELHI, Delhi - 110006, INDIA	A67899047
4	10059281	13/03/2015 *	296,000,000.00	STATE BANK OF INDIA	SME BRANCH, AJMAL KHAN ROAD, KAROL BAGH, NEW DELHI, Delhi - 110005, INDIA	C48910608

FIXED ASSETS

• Land
• Building
• Plant and Machinery
• Furniture and Fixture
• Office and Fire Fittings equipment
• Computers
• Vehicles
• Air Conditioners

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.66.33
UK Pound	1	Rs.100.03
Euro	1	Rs.71.44

INFORMATION DETAILS

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

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
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		45

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.