New Holland Fiat India Private Limited[1]

INDIA@NEW_HOLLAND_FIAT_INDIA_PRIVATE_LIMITED_-_133204_17-FEB-2011 PAGE NO. : 1

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.

MIRA INFORM REPORT Report Date : 17.02.2011

IDENTIFICATION DETAILS Name : NEW HOLLAND FIAT (INDIA) PRIVATE LIMITED Formerly Known As : FIAT INDIA PRIVATE LIMITED Registered Office : 303, Central Plaza, 166, CST Road, Kalina, Santacruz (East), Mumbai –

400098, Maharashtra Country : India Financials (as on) : 31.12.2009 Date of Incorporation : 23.11.1992 Com. Reg. No.: 11-69675 CIN No.: [Company Identification No.]

U29220MH1992PTC069675

Legal Form : Private Limited Liability Company Line of Business : Manufacturer of Agricultural and Construction Equipments.

RATING & COMMENTS MIRA’s Rating : B (26)

RATING STATUS

PROPOSED CREDIT LINE

26-40 B Capability to overcome financial difficulties seems comparatively below average.

Small

Maximum Credit Limit : USD 44212000 Status : Moderate Payment Behaviour : Slow

ISIEmergingMarketsPDF us-eyintranet from 125.21.171.18 on 2011-12-21 02:27:02 EST. DownloadPDF.

Downloaded by us-eyintranet from 125.21.171.18 at 2011-12-21 02:27:02 EST. ISI Emerging Markets. Unauthorized Distribution Prohibited.



Litigation : Clear Comments : Subject is an established company having moderate track. There appears some

accumulated losses recorded by the company. However trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution.

NOTES : Any query related to this report can be made on e-mail : [email protected] while quoting report number, name and date.

ECGC Country Risk Classification List – April 1, 20 10 Country Name Previous Rating

(31.12.2009) Current Rating

(01.04.2010) India A1 A1 Risk Category ECGC

Classification Insignificant

A1

Low

A2

Moderate

B1

High

B2

Very High

C1

Restricted

C2

Off-credit

D

INFORMATION DECLINED BY Name : Mr. Arvind Agarwal Designation : Accounts Manager Contact No.: 91-120-3056301 Date : 16.02.2011

LOCATIONS Registered Office : 303, Central Plaza, 166, CST Road, Kalina, Santacruz (East), Mumbai –

400098, Maharashtra, India Tel. No.: 91-22-30007701-08 Fax No.: 91-22-30007709 E-Mail : [email protected]

[email protected] Website : www.newhollandindia.co.in





Head Office (Tractor Division) :

Plot No. 09, Suite No. - 301 and 304, Copia Corporate Suite, Jasola District, Centre, New Delhi – 110 044, India

Tel No.: 91-11- 46727100 Fax No.: 91-11- 46727171 Administrative Office : Level No. 1, Ragus Trade Centre, Bandra Kurla Complex, Mumbai-400051,

Maharashtra, India Tel. No.: 91-22-40700436

Factory 1 : Tractor Division

Plot No. 03, Udyog Kendra, Grater Noida – 201306, District Gautam Budh Nagar, Uttar Pradesh, India

Tel. No.: 91-120-3056000 Fax No.: 91-120-3056989

Factory 2 : Parts Division

Plot No. 3, Udyog Kendra, Greater Noida – 201306, District Gautam Budhagar, Uttar Pradesh, India

Tel. No.: 91-120-3056000 Fax No.: 91-120-3056949

DIRECTORS As on 17.02.2010 Name : Mr. Ezio Barra Designation : Director Address : Via Stazione 51/A, 10060 None, Torino Italy Date of Birth/Age : 18.12.1951 Date of Appointment : 20.03.2008 Name : Mr. Stefano Reganzani Designation : Director Address : Via G Chiabera N 42, Italy Date of Birth/Age : 31.03.1965 Date of cessation : 03.06.2008 Name : Mr. Mario Gasparri Desig nation : Managing Director Address : 69, Friends Colony (West), New Delhi-110065, India Date of Birth/Age : 01.10.1960 Date of Appointment : 10.10.2008 Name : Mr. Rakesh Malhotra Designation : Director Address : 228, Bhera Enclave, Delhi-110087, India Date of Birth/Age : 06.04.1958 Date of Appointment : 25.09.2008





Name : Mr. Stefano Pampalone Designation : Managing Director Address : Istinye Hill Park, SIT 47, Parsel, CS Istinye, Sariyer IST, Turkey Date of Birth/Age : 09.11.1967 Date of Appointment : 14.09.2009

KEY EXECUTIVES Name : Mr. Arvind Agarwal Designation : Accounts Manager

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN As on 31.03.2010 Names of Shareholders (Equity Shares)

No. of Shares

Fiat Group Automobiles SPA (Class A), Italy 3799998 Fiat India Automobiles Private Limited (Class A), India 1 Sibille Alberto (Class A), Italy 1 CNH Asian Holding Limited NV (Class A), Belgium 3645916 CNH Asian Holding Limited NV (Class B), Belgium 116723086 Total 124169002 Names of Shareholders (Preference Shares)

No. of Shares

Fiat Group Automobiles SPA, Italy 686472 Total 686472 As on 17.02.2010 Equity Share Breakup Percentage of

Holding Category Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]

100.00

Total 100.00

BUSINESS DETAILS Line of Business : Manufacturer of Agricultural And Construction Equipments. Products : � Agricultural Tractors

� Harvesting Equipment � Hay and Forge Equipment � Supporting Attachment





PRODUCTION STATUS (As on 31.12.2009) Particulars Unit Licensed

Capacity Installed Capacity

Actual Production

Tractor Nos. 24200 24200 *20977 * Excludes 9 cars capitalized / Scraped

GENERAL INFORMATION No. of Employees : Information declined by the management Bankers : Not Available

Facilities : Unsecured Loans 31.12.2009 Rs. In Millions

31.12.2008 Rs. In Millions

a. Short term loans from Bank -- 2700.000 b. Bank Overdraft -- 74.634

Total -- 2774.634

Banking Relations : - Auditors :

Name : Deloitte Haskins and Sells Chartered Accountants

Address : 7th Floor, Building 10, Tower B, DLF Cyber City Complex, DLF City Phase – II, Gurgaon – 122 002, Haryana, India

Tel. No.: 91-124-6792000 Fax No.: 91-124-6792012

Holding company : Fiat Group Automobiles SpA Ultimate Holding Company: Fiat SpA Fellow Subsidiaries : • Automotive Lighting Polska Sp. Z.o.o.

• Fiat Automobile AG • Fiat Group Purchasing SRL • Fiat Partecipazionl India Private Limited • Magneti Marelli Do Brasil Industria e Camercio SA. • Sevel • Isvor Dealer net SRL • Nanjing Fiat • Fiat Sundaram Auto Finance Limited • CNH Global NV • Fiat Revi • CNH America LLC • CNH ltalia S.p.A • CNH U.K Limited





• Case Corporation Pty Limited • CNH Trade NV • Iveco S.p.A • Turk Traktors ve Ziraat • CNH Global NV CNH Belgium Limited NV • New Holland Tractors Limited NV • CNH Services Sri CNH Latin America Limited, Brazil • CNH France SA • CNH International S.A • CNH Services (Thailand) limited • Fiat Group Automobiles, South Africa • Fiat Sepin S. c. p. a • CNH Australia PTY Limited • CNH Commercial S.A de C.V., Mexico • CNH Industrial SA de C.V., Mexico

CAPITAL STRUCTURE As on 31.12.2009 Authorised Capital : No. of Shares Type Value Amount 30000000 Equity Shares (Class A) Rs.100/- each Rs.3000.000 Millions 120000000 Equity Shares (Class B) Rs.100/- each Rs.12000.000 Millions 50000000 9% Convertible Non-Cumulative Non-

Participating Redeemable Preference Shares Rs.100/- each Rs.5000.000 Millions

Total Rs. 20000.000 Millions Issued, Subscribed & Paid-up Capital : No. of Shares Type Value Amount 7445916 Equity Shares (Class A) Rs.100/- each Rs.744.592 Millions 116723086 Equity Shares (Class B) Rs.100/- each Rs.11672.309 Millions 686472 9% Convertible Non-Cumulative Non-

Participating Redeemable Preference Shares Rs.100/- each Rs.68.647 Millions

Total Rs.12485.548 Millions Notes: 1. 3,799,999 Class A, Equity Shares of Rs.100 each fully paid are held by Fiat Group Automobiles S.p.A., the holding Company, and 1 (Previous period 1) Class A, Equity Share of Rs. 100 each by Fiat India Automobiles Private limited. 2. 3,645,916 'Class A' equity shares of Rs.100 each and 116,723,086 'Class B' equity shares of Rs.100 each were allotted to the CNH Asian Holding limited NV (shareholders of the erstwhile New Holland Tractors India Private limited) aggregating Rs.12036.900 millions towards consideration for the merger with the Company. 3. 686,472 9% Convertible Non-Cumulative Non-Participating Redeemable Preference Shares of Rs.100 each are held by Fiat Group Automobiles S.p.A, the holding company. 4. 686,472 9% Convertible Non-Cumulative Non-Participating Redeemable preference shares of Rs.100 each are convertible into 686,472 equity shares of Rs. 100 each at the option of Fiat Group Automobiles S.p.A, the preference shareholder. Any preference shares which remain unconverted into equity shares of Rs. 100 each are





redeemable at such time, as may be deemed fit by the Board of Directors, subject to a maximum of twenty years from the date of issue together with a redemption premium of Rs. 5 per preference share.





[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS

31.12.2009 31.12.2008 (9 Months)

31.03.2008

SHAREHOLDERS FUNDS 1] Share Capital 12485.548 12485.548 448.647 2] Share Application Money 0.000 0.000 12036.900 3] Reserves & Surplus 5788.367 5788.367 5788.367 4] (Accumulated Losses) (7220.997) (6870.050) (6326.698)

NETWORTH 11052.918 11403.865 11947.216 LOAN FUNDS 1] Secured Loans 0.000 0.000 0.000 2] Unsecured Loans 0.000 2774.634 515.000

TOTAL BORROWING 0.000 2774.634 515.000 DEFERRED TAX LIABILITIES 0.000 0.000 0.000

TOTAL 11052.918 14178.499 12462.216 APPLICATION OF FUNDS FIXED ASSETS [Net Block] 6607.855 7251.507 8665.748 Capital work-in-progress 150.556 1000.819 238.447 INVESTMENT 0.000 0.000 0.000 DEFERREX TAX ASSETS 0.000 0.000 0.000 CURRENT ASSETS, LOANS & ADVANCES Inventories 1591.095 1502.985 1686.343 Sundry Debtors 1916.760 2532.649 2205.377 Cash & Bank Balances 2272.356 344.822 357.219 Other Current Assets 0.000 0.000 0.000 Loans & Advances 1021.060 4211.030 2145.440

Total Current Assets 6801.271 8591.486 6394.379 Less : CURRENT LIABILITIES & PROVISIONS Sundry Creditors 1919.928 2057.818 2351.814 Other Current Liabilities 358.839 392.946 380.895 Provisions 227.997 214.549 103.649

Total Current Liabilities 2506.764 2665.313 2836.358 Net Current Assets 4294.507 5926.173 3558.021

MISCELLANEOUS EXPENSES 0.000 0.000 0.000

TOTAL 11052.918 14178.499 12462.216





PROFIT & LOSS ACCOUNT PARTICULARS 31.12.2009 31.12.2008

(9 Months) 31.03.2008

SALES Income 11977.000 10520.071 12057.311 Other Income 571.547 1427.502 TOTAL (A) 11977.000 11091.618 13484.813 Less EXPENSES Raw Material Consumed 9913.000 6817.454 8683.978 Purchases made for re-sale 1258.054 965.951 Excise Duty 0.000 20.548 Payment to and provision fort

employees 397.017 518.151

Operating and other expenses 1149.975 1736.259 Increase/ Decrease in stock 215.068 (116.986) TOTAL (B) 9913.000 9799.251 11807.901 Less PROFIT BEFORE INTEREST, TAX,

DEPRECIATION AND AMORTISATION (A-B) (C) 2064.000 1292.367 1676.912

Less FINANCIAL EXPENSES (D) 286.000 249.237 155.708 PROFIT BEFORE TAX, DEPRECIATION AND

AMORTISATION (C-D) (E) 1778.000 1043.130 1521.204

Less/ Add

DEPRECIATION/ AMORTISATION (F) 2127.000 1573.762 2538.890

PROFIT BEFORE TAX (E-F) (G) (349.000) (530.632) (1017.686) Less TAX (H) 2.000 12.720 12.446 PROFIT AFTER TAX (G-H) (I) (351.000) (543.352) (1030.132) Add PREVIOUS YEARS’ BALANCE BROUGHT

FORWARD (6870.050) (6326.698) (5327.953)

Excess provision for employees benefits as at

1.04.2007, calculated as per accounting standard 15 written back

0.000 0.000 31.387

BALANCE CARRIED TO THE B/S (7221) (6870.050) (6326.698) EARNINGS IN FOREIGN CURRENCY F.O.B. value of Exports 3241.486 3799.667 4954.747 Service Rendered 25.103 65.298 50.234 TOTAL EARNINGS 3266.589 3864.965 5004.981





IMPORTS Raw Materials 997.004 1119.403 1640.799 Capital Goods 319.523 134.003 104.365 Traded Goods 36.400 0.000 0.000 Others 10.057 9.405 40.171 TOTAL IMPORTS 1362.984 1262.811 1785.335 Earnings Per Share (Rs.) (2.81) (4.38) (5.48)

KEY RATIOS PARTICULARS

31.12.2009 31.12.2008 (9 Months)

31.03.2008

PAT / Total Income (%) (2.93) (4.90) (7.64) Net Profit Margin (PBT/Sales)

(%) NA (5.04) (8.44)

Return on Total Assets (PBT/Total Assets}

(%) (2.60) (3.67) (6.76)

Return on Investment (ROI) (PBT/Networth)

0.03 (0.05) (0.09)

Debt Equity Ratio (Total Liability/Networth)

0.23 0.47 0.28

Current Ratio (Current Asset/Current Liability)

2.71 3.29 2.25

LOCAL AGENCY FURTHER INFORMATION Details of Sundry Creditors: Particulars

31.12.2009 (Rs. in millions)



Sundry Creditors i. Micro and small enterprises -- -- -- ii. Others 1919.928 2057.818 2351.814

Note: Registered office of the company has been shifted from Level No. 1, Ragus Trade Centre, Bandra Kurla Complex, Mumbai-400051, Maharashtra, India to the present address w.e.f. 01.06.2009 Operations and Performance: Car Business The Company continues the business of selling cars - model Palio under the exclusive distributor agreement with





Tala Motors Limited through its dealer network. Though, the Car industry showed a positive outlook during the year inspite of recession in world economy, the sales of Palio showed a downturn due to introduction of various new generation models by other competitors. To support the alter sale service. the company also continues the business of model Palio's spare parts and accessories through distributors. Tractor Business The Indian Tractor industry touched an ever highest figure in 2009 with growth of 11.6%. NHFI managed to post a growth of 10.3% in Domestic Market, hut at the same time de-grew @ 56.0% in Exports. The Dealer Network continues to improve in 2009 over previous year. The network was strengthened by covering unrepresented territories and also realigning territories. 52 new dealers were added and non-performing dealers were closed down in 2009. Network productivity was also increased by 11%. New Holland India expanded its domestic product portfolio and is now present in more than 90% of Industry domain. Product gaps were filled by introducing New Models in 32HP, 51HP and 65 HI' segment. Apart from this upgraded transmission option was made available to tap the specific application and commercial application markets. They introduced new drive line which was in-house design. Tractors with this drive line "NDL series" were opened to domestic market from Sept' 09, Initial launch was carried out in 4 selected states of Indiu. Launch activity included Dealer launch, Salesman training and customer launch. The response from their channel partners and customers was over-whelming. This series has unique features and after full introduction and establishment by April' 10, it will help LIS to penetrate market efficiently and strengthen theirselves. In line with the International direction, brand identity' Aapki Unnati Hamara Sankalp' was evolved for India. NHFI also participated in big way in Regional/National/International Agri fairs like PAU, Bangalore, Dharwad, Sugar Expo, AGRlMECH Delhi. In 2009 to support farm mechanization they aggressively marketed Sugarcane harvester, Balers and Crop choppers. They are one of the first markets of Asia, where 4000 and 8000 series harvesters were introduced. Looking at the overwhelming response of many customer focused activities (Health check up camps and service camps and Operator trainings for customers, On theJob training for channel partner manpower), they increased number of those in 2009 also, which broughtthemcloser to customer and also enhanced the customer loyalty, During the year company also setup a new plant in Greater Noida Location for production of TLI3 Axles with an initial investment of INR 942Million and the commercial production was started in November 2009. Amalgamation: The Scheme of Arrangement and Amalgamation ('the Scheme') between Fiat India Private Limited ("Transferee Company") and New Holland Tractors India Private Limited ("Transferor Company") was sanctioned as per the provisions of sections 391 to 394 of the Companies Act, 1956, by the High Court of Mumbai and Delhi vide their Orders dated 8 August 2008 and 1 September 2008 respectively. The Scheme was made effective by filing certified copies of Orders with the Registrar of Companies at Mumbai and Delhi on 8 September, 2008 and 23 September, 2008, respectively. Accordingly, the effect of the same was incorporated in the accounts of the previous year from the appointed date of 1 April, 2007.





Contingent liabilities and provisions Particu lars 31.12.2009

(Rs. in millions) A. Estimated amount of contracts remaining to be execu ted on capital account and not provided for [net of advances]

163.543

B. Contingent liabilities not provided in respect of: a) Excise duty demands disputed in appeals i. Excise matter disputed in appeal in respect of differential duty demanded on UNO valuation is pending before the Supreme Court after the Company was successful in the Central Excise and Service-tax Appellate Tribunal (CESTAT). The Company, based on legal advice, believes that there is no merit in the Authority's contention that the assessable value should be on the basis of cost of manufacture rather than invoice value.

3111.649

ii. Excise matters disputed in appeals relating to duty paid on advertisement expenses incurred by dealers, cenvat credit incorrectly availed on capital goods under certain chapters etc. These matters are pending before Custom Excise and Service tax Appellate Tribunal (CESTAT).

463.005

iii. Other show cause notices in relation to excise matters relate to admissibility of CENVAT/ MODVAT, including on capital goods, components .of cost in the valuation of goods on the basis of which excise duty levied, excise duty refundable on cars sold as taxis, etc. These matters are pending at various stages, from Deputy Commissioner to Commissioner.

688.096

b) Income tax demands disputed in appeals i. Case decided by the Income-tax Appellate Tribunal in favor of the Company against which IT Department has filed Appeal with High Court, Mumbai (relating to computation of Taxable Income/(Loss) for assessment year 1998-99). The appeal was not accepted by the High Court, Mumbai.

Nil

ii. Pending before the Commissioner of Income-tax (Appeals), relating to disallowances in transfer pricing assessments for assessment year 2004-2005. The Assessing Officer has recommended indication of penalty proceedings, which is pending

Amount Not Ascertainable

c) Sales tax matters disputed in appeals i. Issues mainly related to levy of additional sales-tax demanded by the Department(s) on matters like different rates, including certain amounts on the base values for charging tax, non-submission of forms, etc. These matters are pending at various stages, from Deputy Commissioner to Sales-tax Tribunal

889.434

ii. Demand of Sales Tax by Assistant Commissioner (CT), Thiruvarambur Circle, Trichy for the year 2006-07 regarding set off of Entry Tax with Sales Tax. The Appeal is decided by Joint Commissioner Appeals in favor of the company. However, the order is awaited

2.276

d) Premium on redemption of Preference Share 3.432 e) Claims against the Company not acknowledged as debts i. in respect of labour matters involving issues like reinstatement of dismissed employees and payment of wages during the periods of dismissal, etc (to the extent ascertainable)

6.013

ii. in respect of claims (under arbitration) made by dealers whose dealerships were terminated, seeking reimbursement for loss of profit, etc.

606.000

iii. in respect of claims by customers for issues like quality problems, after sales service, etc.

24.594

iv. in respect of claims made seeking refund of UNO booking advance with interest 21.985 v. other miscellaneous matters 4.109





FIXED ASSETS: • Leasehold Land • Building • Plant and Machinery • Furniture and Fixtures • Office and Other Equipments • Computers • Vehicles • Goodwill • Computer Software • Technical Knowhow fees WEBSITE DETAILS: History: Subject is a 100% subsidiary of USD 15bn. CNH Global, - the World’s largest Agricultural Equipments Company, the Leading manufacturer of Agricultural and construction equipment manufacturer in the world. a majority owned subsidiary of Fiat Group. Spread across 60 acres in the Greater Noida District of Uttar Pradesh, the state-of-the-art plant with an initial investment of over Rs. 2500.000 Millions, is designed on the lines of New Holland’s international manufacturing facilities. The company has focused its strength in agricultural mechanisation to build a world-class tractor company in India. It’s rationale for investment in India to be driven primarily by its long involvement and in-depth understanding of the Indian agricultural industry. Last year it produced over 23,000 tractors in 35-75 Hp segment with over a 90 per cent indigenisation. Not just India, tractors made by New Holland India have made their mark in the rest of the world. Today completely built tractors manufactured in its state-of-the-art Greater Noida plant are being exported to over 51countries in Asia, Africa and Middle East, Australia, New Zealand, Latin America and North America. A true testimony of the New Holland India quality, that the world admires. Major Milestone: 1996 New Holland India established. 1997 Ground Breaking Ceremony of the Plant at Greater Noida. 1998 Inauguration of Training center 1998 New Holland India launched the 5630 (70 HP Tractor) 1999 Plant Inauguration and Launch of 50 HP tractor New Holland 3630 2001 New Holland 3230 (42 HP Tractor) launched 2002 New Holland 3030 (35 HP Tractor) launched 2003 New Holland 3630 TX – 55 HP Launched 2005 Launched 3630 TX+, 3130, 3600 and 5500 and 7500 models in both 2 wheel and 4 wheel drive version. 2007 New Holland NX Series(35hp, 40Hp and 45 Hp category) launched 2008 100,000th Tractor Rolled Out. 3037 NX model launched Research and Development With a thorough knowledge and understanding of the Indian farmer's requirements, New Holland has been able to deliver what the Indian farmer wants. This has been made possible by the extensive research done on the specific requirements of the Indian farmer, in the state-of-the-art Research and Development centre situated at





Greater Noida. The New Holland India R and D centre designs, develops and tests new products for Indian as well as International markets. HI-tech 3 dimensional computer aided design tools are used to develop new products. Extensive testing is carried out on the products designed and developed in RandD centre which includes bench testing of components. Performance and reliability tests are also done keeping in mind the actual working conditions with customers. With the name comes the commitment of a team of professionals driven by a single goal: that of putting technology into the hands of farmers, allowing them to maximise productivity most economically. The tractors not only meet but also exceed the requirements of the customers. Industrial Operation New Holland India has the following key operational areas: • Engine Assembly and Testing • Makino Machining Centre • CED (Cathodic Electro Deposition) Paint shop • Final Assembly and Testing Continuous Focus on Quality New Holland India team is always striving hard with a spirit of dedication and teamwork to establish the best international quality standards of customer satisfaction for the Indian farmer, infused with the core values and guiding principles of CNH Group worldwide. Each tractor that leaves the plant is perfect down to the last coat of paint, which lasts for years. The plant has a special 'Makino' machining centre which provides both accuracy and precision while manufacturing complex machine parts of tractors. Not only that, it has a CED (Cathodic Electro Deposition) paint shop for longer life of the tractors. New Holland India is the first Indian tractor company to get an ISO 9001:2000 certification for quality standards. New Holland has implemented and integrated Supply Chain ERP system, which gives extremely flexible and controlled material management. All production staff and workers are technically qualified, and many of them have been trained in New Holland plants abroad to ensure international standards of quality and productivity Customer Service Parts In New Holland, they believe the most important phase of the customer dealing starts when the machines have rolled out of the outlet. Driven by this philosophy, they provide prompt after-sales service support to all the customers through the network of over 400 dealers. These dealers' outlets store and sell New Holland genuine parts, lubes and accessories that conform to the 'New Holland stringent quality standards'. Furthermore, these tractor parts/accessories are also available through the network of 70 strategically located stockists and their retailer network of over 3000 outlets spread all over the country. To serve the needs of the Dealers and Stockists, New Holland India ware house based at Greater Noida that adequate parts, components, accessories and sub-assemblies, making New Holland capable of prompt distribution in the domestic and international markets at any point of time. Training Centre





New Holland Training centre was established with an objective to equip New Holland Dealers and Sales and Service staff with necessary Technical and Managerial Skills to provide the customers the best services always. The training centre is situated at the premises of State-of-the art New Holland manufacturing plant at Greater Noida, includes class rooms with multimedia presentations facilities, well equipped workshops and various tractor aggregates of complete New Holland range and wide range of implements and a big farm to provide hands-on training. Advanced Support New Holland India has a Web-based catalogues for tractor parts to enable field staff for placing on line order for parts. Exports Not just India, tractors made by New Holland India have made their mark in the rest of the world. Today completely built tractors manufactured in its state-of-the-art Greater Noida plant to over 39 countries around the world in tractors to Asia, Africa, Australia, Europe, Latin America and North America. In addition to tractors, New Holland India exports sub-assemblies and components manufactured in the plant are also exported to other CNH subsidiaries worldwide. A true testimony of the New Holland India quality, that the world admires PRESS RELEASE: NEW HOLLAND FIAT INDIA SUPPLIERS MEET – 4th DECEMBE R 2010 As an endeavor towards further harvesting partnerships with our suppliers, New Holland Fiat India convened a Supplier Meet on 4th December 2010 at Hotel Taj Palace, New Delhi. The event was overwhelmingly participated by almost all suppliers and service providers, sending very positive signals of our resolve to make our association an everlasting one. Mr. Stefano Pampalone, Managing Director-India Plant shared the performance about FIAT Group and CNH Worldwide, and talked about increasing our footprint in the Indian market with aggressive plans and diversification into new agri based products. The deliberations from Mr. Abhijit Gupta, Director-Purchasing focused on the current economic environment, new developments, and on the global sourcing activities, emphasizing on the vital importance of cost management. This was followed by presentations from Mr. Anil Sinha and Mr. Vivek Gupta on specific plans and expectations on quality, delivery and new product developments, which gave an excellent insight into the deliverables, and further expectations from our channel partners. In order to make suppliers free of all reservations, there was a Question and Answer session, where suppliers participated with lot of enthusiasm and their questions were answered aptly by the senior management of NHFI. Performance based on cost, quality, delivery and development was recognized and the best deserving suppliers were given awards for their outstanding performance in their respective areas. New Holland fiat India thanks it's all suppliers and service providers for taking time out of their busy schedule and attending the event, which will go a long way in further strengthening our business relations.





CMT REPORT (Corruption, Money Laundering & Terroris m] 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 records 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/Standar ds : 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.45.45 UK Pound 1 Rs.72.91 Euro 1 Rs.61.43 ISIEmergingMarketsPDF us-eyintranet from 125.21.171.18 on 2011-12-21 02:27:02 EST. DownloadPDF.




SCORE & RATING EXPLANATIONS

SCORE FACTORS

RANGE POINTS

HISTORY 1~10 5 PAID-UP CAPITAL 1~10 3 OPERATING SCALE 1~10 3 FINANCIAL CONDITION --BUSINESS SCALE 1~10 2 --PROFITABILIRY 1~10 2 --LIQUIDITY 1~10 3 --LEVERAGE 1~10 3 --RESERVES 1~10 2 --CREDIT LINES 1~10 3 --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

TOTAL 26 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



New Holland Fiat India Private Limited[1]

Documents

Transcript of New Holland Fiat India Private Limited[1]