MIRA INFORM REPORT

Report No. :	342324
Report Date :	25.09.2015

IDENTIFICATION DETAILS

Name :	SOM SHIVA (IMPEX) LIMITED
Registered Office :	Mangalam, Behind Apang Manav Mandal, Near V S Road, Ahmedabad - 380015, Gujarat
Tel. No.:	91-79-26753503
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	20.10.1984
Com. Reg. No.:	04-007374
Capital Investment / Paid-up Capital :	Rs. 3.400 Million
CIN No.: [Company Identification No.]	L51909GJ1984PLC007374
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	AACCS7803E
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Subject is engaged in the Manufacturing of Black, Colored and Additive Master batches of Different Grades which are used for Manufacturing of Various Plastic Products for Imparting Desired Properties and also has Injection Moulding Facilities for Manufacturing Plastic Moulded Products.
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

Ba (42)

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

Maximum Credit Limit :	USD 173000
Status :	Satisfactory
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject was incorporated in the year 1984 and it is engaged in the manufacturing of black colored and additive master batches of different grades which are used for manufacturing of various plastic products for imparting desired properties. For the financial year ended 2014, company has reported stagnant operational performance and it has maintained above average profit margins at 1.5%. Rating takes into consideration company’s established record of business operations supported by established relationship with reputed clientele including its principal customer ‘Sintex Industries Limited’ and extensive industry experience of promoters in the plastic business. However, rating strength partially offset by the modest scale of operations of company in a highly fragmented plastic industry along with small capital base and moderate debt-coverage indicator. Trade relations are reported as fair. Payment terms are reported to be slow but correct. In view of aforesaid, 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	CARE
Rating	Long Term bank Facilities = BBB-
Rating Explanation	Moderate degree of safety and moderate credit risk.
Date	08.01.2015

Rating Agency Name	CARE
Rating	Short Term bank Facilities = A3
Rating Explanation	Moderate degree of safety and higher credit risk
Date	08.01.2015

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 31-03-2015.

INFORMATION DENIED BY

Name :	Mr. Pratik
Designation :	Accounts Head
Contact No.:	91-79-26763503
Date :	23.09.2015

LOCATIONS

Registered Office :	Mangalam, Behind Apang Manav Mandal, Near V S Road, Ahmedabad - 380015, Gujarat, India
Tel. No.:	91-79-26753503
Fax No.:	91-79-26763504
E-Mail :	simplex@simplexin.com
Website :	www.simpexin.com
Head Office :	301, Iscon Mall, Above Star India Bazaar, Satellite Road, Ahmedabad 380015, Gujarat, India
Tel. No.:	91-79-26763503 / 26763504
E-Mail :	info@simpexin.com
Factory 1:	Plot No. 111, GIDC Phase-1, Chhatral, Taluka: Kalol (North Gujarat), District: Gandhinagar - 382729, Gujarat, India
Tel. No.:	91-2764-232104 / 232102
E-Mail :	plant@simpexin.com
Factory 2 :	Plot No. 221/2 and 224/4, Opposite Asian Tubes, Village : Indrad, Taluka Kadi, District: Mehsana, (North Gujarat), India
Tel. No.:	91-2764- 233855
E-Mail :	Plant@simpexin.com

DIRECTORS

As on 25.09.2014

Name :

Mr. Pranay Arunprasad Patel

Designation :

Whole-time director

Address :

Mangalam, B/H Apang Manav Mandai, Near V.S. Road, Ahmedabad - 380015,

Gujarat, India

Date of Birth/Age :

14.07.1964

Date of Appointment :

01.11.2011

PAN No.:

ABSPP5880A

DIN No.:

00249074

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	L51909GJ1984PLC007374	SOM SHIVA (IMPEX) LIMITED	Whole-time director	01/11/2011	21/02/1986	-	Active	NO
2	U24299GJ1958PTC000910	MAS CHEMICALS INDUSTRIES PRIVATE LIMITED	Director	03/03/1992	03/03/1992	01/03/2012	Active	NO
3	L63910GJ1994PLC021915	PRISM FINANCE LIMITED	Managing director	28/04/1994	28/04/1994	30/03/2009	Active	NO
4	U45201GJ1994PTC023361	AKSHAR ESTATES PRIVATE LIMITED	Director	20/10/1994	20/10/1994	-	Active	NO
5	U65910GJ1994PTC023647	SAMURAI HOLDINGS PRIVATE LIMITED	Director	23/11/1994	23/11/1994	30/03/2009	Active	NO
6	U74899GJ1994PLC050189	ZEP INFRATECH LIMITED	Director	15/03/2007	15/03/2007	-	Active	NO
7	U45300GJ2007PTC050882	CLARIANT BUILDCON PRIVATE LIMITED	Director	21/05/2007	21/05/2007	30/03/2009	Active	NO
8	U45209GJ2008PTC052528	ANAHAT BUILDCON PRIVATE LIMITED	Director	03/01/2008	03/01/2008	30/03/2009	Active	NO
9	U70101GJ2008PTC053084	ARRIS ESTATES PRIVATE LIMITED	Director	28/02/2008	28/02/2008	30/03/2009	Active	NO
10	U45201GJ2008PTC053103	BILLET ESTATES PRIVATE LIMITED	Director	29/02/2008	29/02/2008	30/03/2009	Active	NO
11	U29259GJ1992PLC017353	SINTEX INTERNATIONAL LIMITED	Director	13/09/2008	03/06/2008	-	Active	NO
12	U65910GJ1984PTC007508	BAR MAGNET INVESTMENT PRIVATE LIMITED	Director	15/10/2008	15/10/2008	17/08/2009	Active	NO
13	U45201GJ2010PTC060326	PATEL DWELLERS PRIVATE LIMITED	Director	20/04/2010	20/04/2010	-	Active	NO
14	U45200GJ2010PTC061814	EPISTYLE PROPCON PRIVATE LIMITED	Director	31/07/2010	31/07/2010	-	Active	NO
15	U45200GJ2010PTC061838	FILLET REALTY PRIVATE LIMITED	Director	03/08/2010	03/08/2010	-	Active	NO
16	U45200GJ2010PTC061851	CONY REALTY PRIVATE LIMITED	Director	04/08/2010	04/08/2010	-	Active	NO
17	U17119GJ1982PTC005535	PHOENIX FABRICS PRIVATE LIMITED	Director	30/09/2011	05/11/2010	-	Active	NO

Name :

Mr. Kashyap Rajendra Mehta

Designation :

Director

Address :

302, Shivalaya Apartments, S.M.Road, Ambawadi, Ahmedabad - 390015, Gujarat, India

Date of Birth/Age :

07.03.1960

Date of Appointment :

19.02.2008

DIN No.:

00005063

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	U67120GJ1993PTC020487	INNOVATE SECURITIES PRIVATE LIMITED	Director	15/09/1994	15/09/1994	-	Active	NO
2	L29199GJ1984PLC007130	GUJARAT CRAFT INDUSTRIES LIMITED	Director	23/09/1999	23/09/1999	-	Active	NO
3	L17119GJ1986PLC009009	BISIL PLAST LIMITED	Director	28/03/2003	28/03/2003	24/10/2008	Active	NO
4	L65923GJ1990PLC014790	TYPHOON FINANCIAL SERVICES LIMITED	Director	30/03/2003	30/03/2003	-	Active	NO
5	U51100GJ2006PTC047708	INNOVATE DERIVATIVES PRIVATE LIMITED	Director	13/02/2006	13/02/2006	-	Active	NO
6	L63910GJ1994PLC021915	PRISM FINANCE LIMITED	Director	06/06/2007	06/06/2007	-	Active	NO
7	L25200GJ1984PLC050560	GOPALA POLYPLAST LIMITED	Director	24/09/2007	31/07/2007	15/06/2010	Active	NO
8	L51909GJ1984PLC007374	SOM SHIVA (IMPEX) LIMITED	Director	19/02/2008	19/02/2008	-	Active	NO
9	U65910GJ1994PTC023647	SAMURAI HOLDINGS PRIVATE LIMITED	Director	02/03/2009	02/03/2009	-	Active	NO

Name :

Mr. Chetan Jaywantbhai Vyas

Designation :

Director

Address :

10, Sarjan Suvarnapuri Society, Chikuwadi, Vadodara 390007, Gujarat, India

Date of Birth/Age :

12.02.1969

Date of Appointment :

22.09.2010

DIN No.:

01310207

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	U74140GJ1995PTC027533	ACVA BIZ IDEAS PRIVATE LIMITED	Whole-time director	21/09/1995	21/09/1995	-	Active	NO
2	L51909GJ1984PLC007374	SOM SHIVA (IMPEX) LIMITED	Director	22/09/2010	01/07/2005	-	Active	NO
3	U40106GJ2010PTC061832	ACVA SOLAR PRIVATE LIMITED	Director	03/08/2010	03/08/2010	-	Active	NO

Name :

Mr. Kaushik Dhirajlal Naik

Designation :

Director

Address :

21, Sai Baba Park, New Civil Road, Valsad – 396001, Gujarat, India

Date of Birth/Age :

23.10.1959

Date of Appointment :

14.05.2010

DIN No.:

03061533

Name :

Mrs. Rajkumari Ramchand Udhwani

Designation :

Director

Address :

A/9 Seagull Park Society, Behind Sanjeevani Complex, New Wadaj Road Wadaj, Ahmedabad - 380013, Gujarat, India

Date of Birth:

06.03.1972

Date of Appointment :

25.03.2015

PAN No.:

AAPPU2139K

DIN No.:

02636225

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	U45201GJ2008PTC053103	BILLET ESTATES PRIVATE LIMITED	Director	30/03/2009	30/03/2009	-	Active	NO
2	U24299GJ1958PTC000910	MAS CHEMICALS INDUSTRIES PRIVATE LIMITED	Director	27/03/2014	27/03/2014	-	Active	NO
3	U45200GJ2010PTC061814	EPISTYLE PROPCON PRIVATE LIMITED	Director	25/12/2014	25/12/2014	-	Active	NO
4	L51909GJ1984PLC007374	SOM SHIVA (IMPEX) LIMITED	Director	25/03/2015	25/03/2015	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Pratik
Designation :	Accounts Head

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 25.09.2014

SHAREHOLDING FILES ATTACHED

Equity Share Break up (Percentage of Total Equity)

As on 25.09.2014

Category	Percentage
Bodies corporate	29.41
Directors or relatives of Directors	63.50
Other top fifty shareholders	6.15
Others	0.94
Total	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in the Manufacturing of Black, Colored and Additive Master batches of Different Grades which are used for Manufacturing of Various Plastic Products for Imparting Desired Properties and also has Injection Moulding Facilities for Manufacturing Plastic Moulded Products.

Products :

Item Code No.	Product Description
84771000	Moulding Machine

Brand Names :

Not Available

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 :	Sintex Industries Limited
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	IDBI Bank Limited
Branch	G. Road Branch, IDBI Complex, Lal Bunglow, Off C. G. Road, Ahmedabad- 380006, Gujarat, 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 :

(Rs. In Million)

SECURED LOAN	As on 31.03.2014	As on 31.03.2013
LONG TERM BORROWING
Rupee term loan from bank	57.569	67.752
SHORT TERM BORROWING
Working capital Loans from banks	62.648	82.275
Total	120.217	150.027

Notes:

LONG TERM BORROWING

Repayable in 40 Equal quarterly Installment Commencing from June 2012 and Ending on march 2022 rate of Interest is 5.5% Above base rate.

SHORT TERM BORROWING

HP of present and future Stock of Raw Materials, Stock in Progress, Finished Goods, Stores and Spares and Books Debts

Auditors :
Name :	Talati and Talati Chartered Accountants
Address :	Ambica Chambers, Near High Court, Navrangpura, Ahmedabad-380009, Gujarat, India
PAN N Income-tax PAN of auditor or auditor's firm :	AAAFT4520A
Memberships :	--
Collaborators :	--
Associates :	Akshar Estate Private Limited, India Aarna Clothing Private Limited, India Opel Securities Private Limited, India Mas Chemicals Private Limited, India Prominent Plastics Limited , India Prism Finance Limited, India Samurai holding Private Limited, India
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives:	Bar Magnet Investment Private Limited, India Sepectratek Industries, India
Other Related Parties:	Pranay A. Patel (HUF)

CAPITAL STRUCTURE

As on 25.09.2014

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.10/- each	Rs. 10.000 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
340000	Equity Shares	Rs.10/- each	Rs. 3.400 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	3.400	3.400	3.400
(b) Reserves & Surplus	57.213	52.508	40.566
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	15.000	0.000
Total Shareholders’ Funds (1) + (2)	60.613	70.908	43.966
(3) Non-Current Liabilities
(a) long-term borrowings	57.569	67.752	6.446
(b) Deferred tax liabilities (Net)	8.947	9.467	18.433
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.847	0.903	0.727
Total Non-current Liabilities (3)	67.363	78.122	25.606
(4) Current Liabilities
(a) Short term borrowings	247.954	253.290	241.190
(b) Trade payables	130.911	88.758	55.810
(c) Other current liabilities	15.012	26.097	27.300
(d) Short-term provisions	2.948	2.572	3.038
Total Current Liabilities (4)	396.825	370.717	327.338
TOTAL	524.801	519.747	396.910
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	160.722	170.882	166.557
(ii) Intangible Assets	0.346	0.442	0.275
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	52.283	16.051	16.275
(b) Non-current Investments	10.955	10.940	3.923
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	9.334	5.382	5.701
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	233.640	203.697	192.731
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	60.286	53.277	46.809
(c) Trade receivables	168.718	122.033	71.910
(d) Cash and cash equivalents	11.879	82.050	7.525
(e) Short-term loans and advances	47.905	56.560	77.231
(f) Other current assets	2.373	2.130	0.704
Total Current Assets	291.161	316.050	204.179
TOTAL	524.801	519.747	396.910

PROFIT & LOSS ACCOUNT

	PARTICULARS	31.03.2014	31.03.2013	31.03.2012
	SALES
	Income	354.312	349.840	216.096
	Other Income	3.852	2.180	3.953
	TOTAL	358.164	352.020	220.049
Less	EXPENSES
	Cost of Materials Consumed	203.685	256.922	153.683
	Purchases of Stock-in-Trade	59.699	0.000	0.000
	Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	1.903	(5.212)	(0.855)
	Employees benefits expense	21.783	21.846	12.870
	Other expenses	37.738	45.152	33.262
	Exceptional items	(6.450)	0.000	0.000
	TOTAL	318.358	318.708	198.960
Less	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION	39.806	33.312	21.089
Less	FINANCIAL EXPENSES	16.876	10.814	5.580
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION	22.930	22.498	15.509
Less/ Add	DEPRECIATION/ AMORTISATION	16.799	17.850	8.959
	PROFIT/ (LOSS) BEFORE TAX	6.131	4.648	6.550
Less	TAX	0.630	(8.106)	12.832
	PROFIT/ (LOSS) AFTER TAX	5.501	12.754	(6.282)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD	29.821	18.879	25.951
Less	APPROPRIATIONS
	Transfer to General Reserve	1.000	1.000	0.000
	Proposed Dividend	0.680	0.680	0.680
	Dividend Distribution Tax	0.116	0.132	0.110
	Total	1.796	1.812	0.790
	Balance Carried to the B/S	33.526	29.821	18.879
	Earnings / (Loss) Per Share (Rs.)	16.17	37.51	(18.47)

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	10.183	12.288	6.408
Cash generated from operations	N.A	N.A	N.A
Net cash flows from (used in) operations	1.824	(3.291)	17.530

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Net Profit Margin (PAT / Sales)	(%)	1.55	3.65	(2.91)
Operating Profit Margin (PBIDT/Sales)	(%)	11.23	9.52	9.76
Return on Total Assets (PBT/Total Assets}	(%)	1.33	0.94	1.74
Return on Investment (ROI) (PBT/Networth)		0.10	0.07	0.15
Debt Equity Ratio (Total Debt /Networth)		5.21	4.70	5.78
Current Ratio (Current Asset/Current Liability)		0.73	0.85	0.62

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	3.400	3.400	3.400
Reserves & Surplus	40.566	52.508	57.213
Money received against share warrants	0.000	0.000	0.000
Share Application money pending allotment	0.000	15.000	0.000
Net worth	43.966	70.908	60.613
long-term borrowings	6.446	67.752	57.569
Short term borrowings	241.190	253.290	247.954
Current maturities of long-term debts	6.408	12.288	10.183
Total borrowings	254.044	333.330	315.706
Debt/Equity ratio	5.778	4.701	5.209

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	216.096	349.840	354.312
		61.891	1.278

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	216.096	349.840	354.312
Profit	(6.282)	12.754	5.501
	(2.91)%	3.65%	1.55%

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	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	Yes
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

OPERATIONS

The production of Master Batches during the year was 2494 M. T. compared to 2759 M.T. during 2012-13. The Job work of master Batches during the year was 57 M.T. compared to 123 M.T. during 2012-13. The Production of Injection Mould during the year was 209 M.T. compared to 198 M.T. during 2012-13. The Job work of Injection Mould during the year was 32 M.T. compared to 338.07 M.T. during 2012-13. The Total turnover of the Company during the year under review has been increased to Rs. 354.300 Million as compared to Rs. 349.800 Million during 2012-13.

UNSECURED LOAN

(Rs. In Million)

Particulars	As on 31.03.2014	As on 31.03.2013
SHORT TERM BORROWING
Loans and advances from related parties	185.306	171.015
Total	185.306	171.015

INDEX OF CHARGES:

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10518704	21/08/2014	249,000,000.00	IDBI BANK LIMITED	C. G. ROAD BRANCH, IDBI COMPLEX, LAL BUNGLOW, OFF C. G. ROAD, AHMEDABAD, GUJARAT - 380006, INDIA	C19681394
2	10507886	24/06/2014	249,000,000.00	IDBI BANK LIMITED	C. G. ROAD BRANCH, IDBI COMPLEX, LAL BUNGLOW, OFF C. G. ROAD, AHMEDABAD- 380006, GUJARAT, INDIA	C10419224

FIXED ASSETS

• Land
• Building
• Machinery
• Computer
• Furniture And Fixture
• Office Equipments
• Vehicles
• Laboratory Equipment

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.66.09
UK Pound	1	Rs.100.88
Euro	1	Rs.73.95

INFORMATION DETAILS

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

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	4
--RESERVES	1~10	4
--CREDIT LINES	1~10	4
--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		42

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.