FORMAT 1.

BANK OF BARODA
(Head Office: Mandvi, Baroda)

Credit Audit Report

Branch Chandavarkar road Region Zone Date Of Credit 30/5/13 Audit 1. Period of Credit Audit [For Existing A/cs: From Date of Last Credit Audit For New A/cs: From the date of sanction/availment ] 2. Name of the Customer 3. Constitution 4. Address 5. 6. 7. Date of Establishment/ Incorporation Dealing with us since Line of Activity SOL ID MMER GMZ Date of submission of Report March 2013 Quarter 01/06/13 0406

8. Industry/Segment(WB,SME,AGRI) 9. Asset Classification 10. Banking arrangement If consortium/multiple, Name and share of leader/ Bank having major share Our Share Name of Other Banks a) b) c) Date of last consortium meeting 11. Details of the Previous Sanction: Date 09/02/12 12. Details of the Latest Sanction: Date 16/03/13 13. Details of Last Three Credit Ratings

Exim corporation Proprietorship G 10/11, Creative industry estate, N.M. Joshi Marg ,Lower Parel(E), Mumbai 400011 05/06/96 Sep 2005 Trading and exporters in chemical commission agents and domestic dealers in chemicals. SME non regulatory Standard As on 31/03/13 Sole

100 Share (%)

Authority AGM SME Authority AGM SME Loan Factory Period 2012 2011 Obligor BOB-5 BOB-5 Rating Facility FR-3 FR-3 Combined CR-4 CR-4

a b 14

Is there any decline in latest credit rating NO If YES, reasons recorded and satisfied upon by the branch for decline in credit rating c Whether rate of interest charged as per last credit rating.(YES/NO) Details of External Credit Rating:

Yes

2 a Whether External Rating is applicable,YES/NO,if yes b Name of Rating Agency c Rating based on F.Y. d Details of Rating 15. Total Exposure To the Party (Rs in Crores) (Fund based + Non-Fund based ) To the Group(Rs in Crores) 16 Details of Facilities Type Of Facility FBP/FBD/PSDL/CC Sub Limit:Packing credit Cash credit 225 (150) (50) Existing 400

No

4.85 9.55 LIMIT (In lac)

Reviewed with Enhanced (250) (50) 80 480 500 (Rs. In Crores)

Stand by limit under baroda gold 45 card FB total 270 Forward Contract
17

500

Details of Accounts O/S Bal.as on 30.5.13 Max.Bal during credit audit period Min.Bal during credit audit period

Type Of CBS Limit Facility A/c No. (like 05/62, 06/232) Etc.

Over dues

Over dues since when (date)

Whether ROI correctly set in finnacle and being charged regularly (Mention only YES/NO)

FB: 1CC 05/14 (0.50) 0.17 2FBP/FBD 07/04 2.70 2.28 Including Gold card * Enhanced facility yet to be release Total -FB 2.70 2.45 NFB: 1 2 Total -NFB 2.70 2.45
GRAND TOTAL

Yes Yes

18. Is there any modifications considered in the latest sanction/review, if yes details thereof.

1.) to continue to waive ECGC buyer wise cover policy for the exports by the firm 2.) to continue to consider the PC on running account basis 3.) to continue to allow liquidation of o/s PSDL from the process of any other inward remittance subject to compliance of the

3 banks/RBI guidelines. 19 Comments on the appraisal and assessment of limits a Whether Banks guidelines have been adhered to while appraising/assessing the credit facilities b In case of takeover please mention details of facilities availed with the previous Banker c Whether take over norms are complied with as per guidelines or deviations approved by competent authority. d Whether contents of industry report circulated by Risk Management Department on the industry performance duly taken into account while processing the proposal (for fresh sanction with limit of Rs.5 crores & above). e Comments on industry averages for inventory, receivables, creditors etc. duly incorporated in the appraisal note. (for fresh sanction with limit of Rs.5 crores & above). f Comments on financial performance of the party vis--vis estimates. g Whether Comments on management qualities incorporated in the appraisal note Whether Comments/Observations of Credit h Approval Committee have been properly taken care of? (for limits of Rs.5 crores & above). i Any other comment on Appraisal/Assessment of facilities. a. Whether the terms and conditions of sanction have been conveyed to all concerned. b. Whether all the terms and conditions of sanction have been acknowledged by all concerned ? c Whether all the terms and conditions of the sanction complied with, if not details thereof with present status. yes NA NA NA

NA

90.46% achieved projected sales Yes NA NA Yes on 21/0 5/13 Yes No, document not executed

20

21

Comments on disbursements of facilities (applicable for fresh sanctions/any increase) a. b. c. Whether disbursements allowed as per the terms of sanction Whether concurrence of competent authority obtained for disbursement. Whether uncomplied terms of sanction complied with within the timeframe allowed if any. Yet to be disburse -

22. Securities stipulated (Primary & collateral) as per sanction: Details of securities A. PRIMARY: hypothecation of stocks Hyp of BD Value of securities & Date Rs.35.29 lacs 30.4.13 Rs.337.95 lacs Amt of Remarks Insurance cover Rs.150 Valid upto 21.9.13 lacs

4 B. 1 COLLATERAL: Hypothecation of fixed assets

38.59 as on Expired 31/03/12 2 equitable mortgage of unit no. G10 143.40 (50%) 3 equitable mortgage of unit no.G08 19/08/10 belonging to M/S onward chemicals 48.70 (50%) Pvt. Ltd. 27/12/10 In case the asset/s charged as security are owned by person/entity other Yes than the borrower, whether guarantee of such person/entity obtained (YES/NO) 23. Documentation a Date of Documents/Date of last Increase limit document yet to be LAD executed,22.03.2012 b Date of creation/Extension of Increase limit document yet to be executed, EM Equitable Mortgage create on March 2006 Whether any change in the No constitution of the account during c credit audit period and if so, whether necessary documents obtained d Whether documents duly verified Document not executed by Banks Law Officer as required e Details of unrectified irregularities b pointed out if any in the document verification report and status of rectification thereof. In case of Company f Date of filing charges with ROC. g Whether charge filed with ROC within stipulated period for primary as well as collateral securities in case of a company, if not, details with present status. h Date of last search report i Whether search confirms noting of all existing charges of the Bank? Conduct of the Account a Interest serviced up to (month/year) b Whether cheques returned with financial reasons during the credit audit period, if yes, No. of cheques returned during the last 3- months. c Whether frequent excess drawing is allowed in the account. d If yes, number of occasions allowed during calendar year e Whether confirmation obtained from competent authority. a Whether turnover in the account is in commensurate with sales . NA NA

NA NA April 13 No

24

NA NA NA Yes

25

26

27

5 b Is utilization satisfactory? Yes c If NO, whether commitment charges are being recovered as per extant guidelines? Submission of return/statement by the party a Stock statement/Statement of April 13 Book-Debts submitted up to (month/year) b QIS/QMR submitted up to Not submitted (qtr./year) c Whether DP fixed as per terms of Yes sanction Insurance WHETHER Adequately Insurance insured cover is in (YES/NO) force (YES/No)

28

29

30

a Primary securities Yes Yes b Collateral securities No No Inspection of securities a Whether pre-sanction inspection 22/3/13 carried out as per extant guidelines of the Bank/arrangement between member banks b Whether reports kept on records. Yes c Whether post-disbursement Document yet to be executed inspection is being carried out as per banks guidelines/arrangement between co lenders d Whether reports kept on records. e Date of last inspection of primary 22/3/13 securities. f Date of last inspection of collateral 22/3/13 securities. g Date of last Stock Audit NA h Details of major unrectified irregularities noticed during the course of inspection of securities/stock audit. Details of adhoc facilities outstanding as on the date of Credit Audit, if any. a Date of sanction of adhoc and No authority b Facility and amount NA c Security NA d Period for which adhoc sanctioned --e Present status --If adhoc not adjusted within the stipulated period whether confirmation from competent authority obtained. f During the current F.Y. how many times excess/ad hoc has been 3 considered by different authority? Accounts of group/sister/associate concern

Insurance policies with Banks clause held on record? (YES/No) Yes ---

6 Name of Group/ Sister/ Associate Concern CBS A/c No. (If Banking With us LIMIT FB 475 lac Banking arrange NFB ment Sole Asset Classifi cation Standard Not available Remarks of Credit Auditor (like whether a/cs subjected to credit audit-in case of credit facilities with us.

31 32

Onward chemical Date of previous credit audit. Date of submission of Rectification Certificate.

33

34

35

Details of unrectified irregularities pointed out at previous Credit Audit/ZIC Inspection/ Concurrent Audit: 1. Credit Audit: a) b) NA c) 2. ZIC Inspection: a) b) 9 Export collection bill are overdue. c) 3. Concurrent Audit: a) b) Nil c) a Whether processing charges/upfront fees, No, Branch has informed, they will Documentation charges etc recovered as recover at the time of release the limit. applicable b If the same has been recovered during --credit audit, Pl. mention date & amount of recovery. Warning signals, if any, noticed by the Credit Auditors and suggestions for remedial measures. (Pl. do not repeat observations made earlier under respective heads) a)Branch to follow up for CIBIL clearance, Mr Shyam Sunder is defaulter of credit card payment. b) F No.135 to be obtained of Mrs Pandevi Tiberiwal as on 31.03.2012 c) Any other remarks (Suggested areas like proper utilization of funds, inter-firm transactions(other than trade transactions) etc. (Pl. do not repeat observations made earlier under respective heads)

Name of Credit Auditor E.C.No. Email address Present place of posting Contact No.(Branch) Mobile No.

R M Toshniwal 37910 Radhey0806@yahoo.co.in M J Market Mumbai 022 4347 4104 09869286060

Signature