MIRA INFORM REPORT

Report Date :

29.12.2007

IDENTIFICATION DETAILS

Name :	ROSSARI BIOTECH (INDIA) PRIVATE LIMITED
Registered Office :	401, Omega, Main Street, Hiranandani Gardens, Powai, Mumbai-400076, Maharashtra
Country :	India
Financials (as on) :	31.03.2006
Date of Incorporation :	31.01.1997
Com. Reg. No.:	11-105584
CIN No.: [Company Identification No.]	U24100MH1997PTC105584
TAN No.: [Tax Deduction & Collection Account No.]	MUMR15313E
PAN No.: [Permanent Account No.]	AABCR2094R
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturers and Exporters of Chemicals

RATING & COMMENTS

MIRA’s Rating :

Ba

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

Maximum Credit Limit :	USD 110272
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is a well-established company having satisfactory track. Directors are reported as experienced respectable and resourceful businessmen. Their trade relations are fair. General financial position is good. Payments are usually correct and as per commitments. The company can be considered normal for business dealings at usual trade term and conditions.

LOCATIONS

Registered Office :	401, Omega, Main Street, Hiranandani Gardens, Powai, Mumbai-400076, Maharashtra India.
Tel. No.:	91-22-25709200/01
Fax No.:	91-22-25709210
E-Mail :	rossari@vsnl.com advt@rossarimail.com enquiry@rossarimail.com rossari@vsnl.net
Website :	http://www.rossari.com
Area :	Owned
Corporate Office :	3, Milan Street, St. Plus Colony, St. Plus Street, Mulund (West), Mumbai - 400 080, Maharashtra.
Factory :	Nhavasheva Port, Mumbai, Maharashtra

DIRECTORS

Name :	Mr. Sunil Srinivasan Chari
Designation :	Director
Address :	B-902, Vallncia, Hiranandani Gardens, Powai, Mumbai-400076
Date of Birth/Age :	05/12/1965
Date of Appointment :	31/01/1997
Name :	Mr. Edward Alphanso Menezes
Designation :	Director
Address :	601/602, Gem House, Hiranandani Gardens, Powai, Mumbai-400076
Date of Birth/Age :	31/10/1960
Date of Appointment :	31/01/1997

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

Names of Shareholders	No. of Shares
Mr. Edward A. Menezes	27550
Mr. Sunil S. Chari	28050
Mr. Irene A. Menezes	2298
Mrs. Usha S. Chari	1000
Mr. Irene A. Menezes	1
Neutron Impex Private Limited	10400
Menzes Mikhait Through F and NG Edward Menses	500
Chari Yash Through F and NG Sunil Chari	300
Sunil Chari (HUF)	650
Total	70749

BUSINESS DETAILS

Line of Business :	Manufacturers and Exporters of Chemicals
Products :	Chemical
Exports :
Products :	Chemical
Countries :	Bangladesh Sri Lanka UAE Malaysia Australia Kenya Jordan New Zealand Venezuela China Nepal

PRODUCTION STATUS

Particulars	Unit	Installed Capacity	Actual Production
Chemicals	Kgs	1100000	793990.77

GENERAL INFORMATION

No. of Employees :	30
Bankers :	Citi Bank, Andhra Bank Mulund (West) Branch, M.G. Road Mumbai - 400 080, Maharashtra HDFC Bank HDFC Bank, House, Senapati Bapat Marg, Lower Parel (W) Mumbai – 400013, Maharashtra, India Andhara Bank, Mulund Branch , Mulund (W) , Mumbai-400080

Banking Relations :	Satisfactory
Auditors :
Name :	Lahoti and Lahoti Chartered Accountants
Address :	Bipin G. Mundade, 202, Surbhi, G. V. Scheme Road No. 2, Mulund (East), Mumbai - 400 081, Maharashtra
Tel. No.:	91-22-25682819
Telefax No.:	91-22-55991680
E-Mail :	mbm@vsnl.net
Associates/Subsidiaries :	· Biotech India Private Limited · Neutron Impex Private Limited CIN No.: U24110MH2004PTC121848 · Rossari Biotech · Rossari Specialities

CAPITAL STRUCTURE

Authorised Capital :

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.10 each	Rs. 1.000 millions
150000	Preference Shares	Rs.10 each	Rs. 1.500 millions
	Total		Rs. 2.500 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
71100	Equity Shares	Rs.10 each	Rs. 0.711 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2006	31.03.2005	31.03.2004
SHAREHOLDERS FUNDS
1] Share Capital		0.711	0.711	0.711
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		26.857	23.055	20.928
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		27.568	23.766	21.639
LOAN FUNDS
1] Secured Loans		0.338	0.583	0.538
2] Unsecured Loans		4.039	2.031	7.773
TOTAL BORROWING		4.377	2.614	8.311
DEFERRED TAX LIABILITIES		0.000	0.000	0.023
TOTAL		31.945	26.380	29.973
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		5.299	6.158	7.343
INVESTMENT		7.035	0.118	0.118
DEFERREX TAX ASSETS		0.090	0.014	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.913	0.331	0.000
	Sundry Debtors	144.398	20.622	10.126
	Cash & Bank Balances	0.428	1.054	1.707
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	17.561	16.670	15.484
Total Current Assets		163.300	38.677	27.317
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	143.460	18.155	3.584
	Provisions	0.320	0.435	1.225
Total Current Liabilities		143.780	18.590	4.809
Net Current Assets		19.520	20.087	22.508
MISCELLANEOUS EXPENSES		0.001	0.003	0.004
TOTAL		31.945	26.380	29.973

PROFIT & LOSS ACCOUNT

PARTICULARS	31.03.2006	31.03.2005	31.03.2004
Sales Turnover	411.741	60.621	44.329
Other Income	0.000	0.000	0.000
Total Income	411.741	60.621	44.329
Profit/(Loss) Before Tax	3.929	2.242	0.080
Provision for Taxation	0.000	0.115	0.023
Profit/(Loss) After Tax	3.929	2.127	0.057
Export Value	N.A.	N.A.	0.561
Import Value	N.A.	N.A.	0.231
Total Expenditure	407.812	57.282	42.090

KEY RATIOS

PARTICULARS		31.03.2006	31.03.2005	31.03.2004
PAT / Total Income	(%)	0.95	3.51	0.13
Net Profit Margin (PBT/Sales)	(%)	0.95	3.70	0.18
Return on Total Assets (PBT/Total Assets}	(%)	2.33	5.00	0.23
Return on Investment (ROI) (PBT/Networth)		0.14	0.09	0.00
Debt Equity Ratio (Total Liability/Networth)		5.37	0.89	0.61
Current Ratio (Current Asset/Current Liability)		1.14	2.08	5.68

LOCAL AGENCY FURTHER INFORMATION

Fixed Assets :

• Building
• Furniture and Fittings
• Motor Car
• Plant and Machinery
• Office Equipments
• Two Wheeler
• Computer Systems
• Telephones
• Electrical Installations

Subject is incorporated to carry on the business of manufacturers, processors, producers, importers, exporters, buyers, sellers, traders, suppliers, stockists, agents, merchants, distributors and dealers in chemicals, chemicals compounds, organic and inorganic dyes, textile and textile auxiliaries.

Its product range includes:

• Antifung SP Conc
• D Soft New
• Dymax NDA
• Newfade PUN Pdr
• Temper VLF New Liquid
• Temper VLF New
• Zycol SNE SU
• Zywet P 100

The company endeavor to provide a company platform for exchange of information view by industry expresses a medium to spread technical and commercial knowledge through the bimonthly publication fussers was been well received and appreciated. The company is the any one to publish fussers in English Hindi and Tamil.

The prospects for the companies are bright during the year the company has achieved rebut growth and were able to clock a 41% increase in turn over as compared to previous year.

Details relating to investment in Capital of Partnership Firm

Name of the Firm	Name of Partners	Profit sharing Ratio
M/S Rossati Biotech	Rossari Biotech India Private Limited	10 %
	Mr. Sunil Chari	45 %
	Mr. Edward Menezes	45 %
M/S Rossari Specialities	Rossari Biotech India Private Limited	10 %
	Mr. Sunil Chari	45 %
	Mr. Edward Menezes	45 %

Name of the company	ROSSARI CHEMICALS INDIA PRIVATE LIMITED
Presented By	Mr. Sunil Chari , Director
1) Date and description of instrument creating the change	Letter confirming creation of the equitable Mortgage by deposit of title deeds on 16^th March 2000
2) Amount secured by the charge/amount owing on the securities of charge	Rs. 3.000 millions
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given	Equitable mortgage created by deposit of title deeds in respect of immovable properties 401 Omega Building, Hirandani Garden sitiated at Powai Mumbai 400076, Bearing CTS No 6/7/20/21/22 (all parts) 23/24 and 25 (parts)
4) Gist of the terms and conditions and extent and operation of the charge.	Interest @ 16 % p.a. Security to secure Term Loan together with interest, cost, expenses, Charges, commission etc.
5) Name and Address and description of the person entitled to the charge.	Andhara Bank, Mulund Branch , Mulund (W) , Mumbai-400080
6) Date and brief description of instrument modifying the charge	NIL
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.	NIL
Name of the company	ROSSARI CHEMICALS INDIA PRIVATE LIMITED
Presented By	Mr. Edward Menezes , Director
1) Date and description of instrument creating the change	Composite Hypothecation Agreement dated 11/03/2003 executed by Rossari Biotech India Private Limited (Hereafter referred to as “the company”) in favour of Citibank N.A. (therein and hereinafter referred to as "the ledger ”)
2) Amount secured by the charge/amount owing on the securities of charge	Total facilities for Rs. 25.000 millions of which Rs. 17.500 millions is funded and Rs. 7.500 millions is non funded facilities.
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given	Hypothecation of all the present and future book debts, outstanding monies, receivables, claims, bills contracts, securities, investments, goodwill, rights of and assets as security for due repayment to the Bank many time on demand the total balance outstanding in the various accounts along with the interest at the rate hereinafter provided including all costs. And also such other goods, properties and machinery that may be brought into by the Borrowers and stored/planted and fitted in the premises aforesaid after execution of this agreement and during its currency.
4) Gist of the terms and conditions and extent and operation of the charge.	In consideration of the lender having agreed to lend advance to the company said facilities under the said agreement and declaration by the company, inter alias as follows. Covenant by the company to repay the facility at 2 above and pay interest and all other monies in the manner set out in the said agreement between the company and the lender and to comply with the terms and conditions of the said agreement. The said assets hypothecated to the Lender as and by way of First charge, as security for and be charged with the repayment of the loan with all interest, liquidated, damages premier on prepayment or on redemption costs charges, and other expenses payable by the company to the lender in respect thereof. Margin 36 % on stocks and 52 % on book debts. The companies to keep the said assets in marketable and good conditions and also insured as provided therein Power of entry, power to take charge and or passion of size, recover, revive appoint and sell, contract, dispatch for realization on otherwise dispose of or deal with all or any part of the said assets, etc as provided therein.
5) Name and Address and description of the person entitled to the charge.	CITI Bank N.A. Bandra Kurla Complex G-Block Bandra (E) Mumbai-400051
6) Date and brief description of instrument modifying the charge	Not Applicable
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.	Not Applicable
Name of the company	ROSSARI CHEMICALS INDIA PRIVATE LIMITED
Presented By	Mr. Edward Menezes , Director
1) Date and description of instrument creating the change	Loan Agreement and Memorandum of Entry dated 08/05/2003 executed by Rossari Biotech India Private Limited (Hereafter referred to as “the company”) in favour ofc Citibank N.A. (therein and hereinafter referred to as "the ledger ”)
2) Amount secured by the charge/amount owing on the securities of charge	Total facilities for Rs. 25.000 millions of which Rs. 17.500 millions is funded and Rs. 7.500 millions is non funded facilities.
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given	Mortgage of property being : Property situated at 401 Omega Building, Hirandani Garden , Powai Mumbai 400076
4) Gist of the terms and conditions and extent and operation of the charge.	In consideration of the lender having agreed to lend advance to the company said facilities under the said agreement and declaration by the company, inter alias as follows. Covenant by the company to repay the facility at 2 above and pay interest and all other monies in the manner set out in the said agreement between the company and the lender and to comply with the terms and conditions of the said agreement. The said assets hypothecated to the Lender as and by way of First charge, as security for and be charged with the repayment of the loan with all interest, liquidated, damages premier on prepayment or on redemption costs charges, and other expenses payable by the company to the lender in respect thereof. Margin 36 % on stocks and 52 % on book debts. The companies to keep the said assets in marketable and good conditions and also insured as provided therein Power of entry, power to take charge and or passion of size, recover, revive appoint and sell, contract, dispatch for realization on otherwise dispose of or deal with all or any part of the said assets, etc as provided therein.
5) Name and Address and description of the person entitled to the charge.	CITI Bank N.A. Bandra Kurla Complex G-Block Bandra (E) Mumbai-400051
6) Date and brief description of instrument modifying the charge	Not Applicable
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.	Not Applicable
Name of the company	ROSSARI CHEMICALS INDIA PRIVATE LIMITED
Presented By	HDFC Bank Limited
1) Date and description of instrument creating the change	Letter of hypothecation of dated 26/04/2004
2) Amount secured by the charge/amount owing on the securities of charge	Rs. 60.000 millions
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given	At the Stock in trade both and present and future consisting of raw material, finished good goods in process of manufacturing and other all the book debts, o/s money receivable claims and bills which are now due or owner or which may at any time hereafter shall continue to subsist till such time all the however due have been repaid in full. Mortgage of properties situated at Flat No 401 Omega Building, Hirandani Garden , Powai Mumbai 400076
4) Gist of the terms and conditions and extent and operation of the charge.	The facility provided to the borrower in the nature. The bank in entitled to charge interest at such rate as may be determined by the bank The charges and hypothecation shall continued to subsist till such time all the borrower due have been repaid in full. The borrower will at all times maintain a sufficient value of the receivable to provide the margin of security regd, by the bank time to time
5) Name and Address and description of the person entitled to the charge.	HDFC Bank Limited HDFC Bank House Senapati Bapat Marg, Lower Parel (W) Mumbai 400013
6) Date and brief description of instrument modifying the charge	NIL
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.	NIL
Name of the company	ROSSARI CHEMICALS INDIA PRIVATE LIMITED
Presented By	Andhara Bank, Mulund Branch
1) Date and description of instrument creating the change	Agreement for cash credit dated 21.03.2001 Term Loan Agreement (Form A) dated 21.03.2001 Memorandum of Title deeds dated 21.03.2001
2) Amount secured by the charge/amount owing on the securities of charge	Open Cash Credit : Rs. 3.000 millions Term Loan II : Rs. 2.300 millions
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given	Hypothecation of Stock of RM/FG/WIP lying in Factory and office premises Equitable Mortgage of office premises situated at OMEGA Building , Powai, Mumbai
4) Gist of the terms and conditions and extent and operation of the charge.	Rate of interest : 15.75 % 25 % Margin on RM / FG 50 % Margin on WIP Personal Guarantee of Directors of the company
5) Name and Address and description of the person entitled to the charge.	Andhara Bank, Mulund Branch , Mulund (W) , Mumbai-400080
6) Date and brief description of instrument modifying the charge	NIL
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.	NIL

Corporate identity number of the company	U24100MH1997PTC105584
Name of the company	ROSSARI BIOTECH (INDIA) PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	401, Omega, Main Street, Hiranandani Gardens, Powai, Mumbai-400076, Maharashtra
This form is for	Creation of Charge
Type of charge	Equitable mortgage or mortgage of property by deposition the title deeds
Particular of charge holder	HDFC Bank HDFC Bank House, Senapati Bapat Marg, Lower Parel [West], Mumbai – 400013, Maharashtra, India siva.subramanian@hdfcbank.com
Nature of instrument creating charge	Memorandum Recording Transaction of creation of equitable mortgage by deposit of title deeds
Date of instrument Creating the charge	30.06.2006
Amount secured by the charge	Rs. 41.900 millions
Brief of the principal terms an conditions and extent and operation of the charge	The bank is entitled to charge interest at such other rate as may be determined by the bank from time to time The mortgage / charge shall continue to subsist till such time all the borrower dues have been repaid in full together with interest, liquidated damages, charges and costs and all other monies whatsoever dues
Description of the property charged indicating whether it is a charged on	Immovable properties
Particulars of the property charged	Mortgage by deposit of title deeds in favour of the bank as security on : Office No. 401, 4^th Floor, Omega, Powai, Mumbai New Factory and Building at Naroli

Corporate identity number of the company	U24100MH1997PTC105584
Name of the company	ROSSARI BIOTECH (INDIA) PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	401, Omega, Main Street, Hiranandani Gardens, Powai, Mumbai-400076, Maharashtra
This form is for	Creation of Charge
Type of charge	Equitable mortgage or mortgage of property by deposition the title deeds
Particular of charge holder	HDFC Bank HDFC Bank House, Senapati Bapat Marg, Lower Parel [West], Mumbai – 400013, Maharashtra, India siva.subramanian@hdfcbank.com
Nature of instrument creating charge	Memorandum Recording Transaction of creation of equitable mortgage by deposit of title deeds
Date of instrument Creating the charge	24.04.2006
Amount secured by the charge	Rs. 8.000 millions
Brief of the principal terms an conditions and extent and operation of the charge	The bank is entitled to charge interest at such other rate as may be determined by the bank from time to time The mortgage / charge shall continue to subsist till such time all the borrower dues have been repaid in full together with interest, liquidated damages, charges and costs and all other monies whatsoever dues
Description of the property charged indicating whether it is a charged on	Immovable properties
Particulars of the property charged	Mortgage by deposit of title deeds in favour of the bank as security on : Office No. 401, 4^th Floor, Omega, Powai, Mumbai New Factory and Building at Naroli

AS PER WEBSITE

Subject an ISO 9001:2000 company was incorporated in 1997.The company's role as an emerging giant in textile processing industry is reflected in it's message. "POWER TO GROW WITH THE NEEDS".

On the leading edge of Chemicals and Bio-chemical technology, Subject is driven by young, dynamic technocrats that represent a new way of thinking and practical approach to the textile industry's problem. The company's marketing philosophy reinforces it's strong emphasis on product quality combining the benefit offered by technical and sales service team. their corporate office is located at Mumbai - the finance center of India and their factory is also located within close proximity to Mumbai, Nhavasheva port.

Subject is one stop-shop for textile processing. Product range dedicated to developing radically new complete product gamut, consistent quality, reliability and timely supplies. Using it's expertise and professional approach, Rossari will continue to develop newer and better product with new processes best suited for a variety of application satisfying stringent standard, properties and ecological requirements

CUTTING EDGE TECHNOLOGY :

Subject name today is guarantee of best manufacturing practice, quality assurance and total quality management.

All made possible by manufacturing unit equipped with latest technology and an efficient, trained workforce that sees the products to its final perfected stage.

Parallel with the commitment to product quality, is Subject commitment to service the customer and meeting his needs. Flexibility and Reliability are two of the most important objective in Rossari quality of service policy.

REACHING GLOBAL MARKET :

Guarantee of supply, consistent quality, affordability, strong technical back-up are just some of the reason why Rossari product's finding growing acceptance in all corner of the globe. At Rossari focus relentlessly on their customer. Because of their resources, they compete effectively in ever changing world market. The company's dedication to serve domestic and overseas customer with an ever broadening range of quality products has resulted in an organization that is successful by an standard.

TECHNICAL SUPPORT :

Subject impressive technical resource are directed at streamlining it's manufacturing capabilities and upholding quality standards. It's state-of-the art laboratories are staffed by highly qualified people, whose collective expertise fulfills the diverse requirement of a textile processing industry. Research teams constantly explore the potential for newer molecules and manufacturing new products, as well as optimizing processes.

Subject can proudly claim one of the best technical support and service team dedicated to look after customer's requirements and problem.

Subject an ISO 9001 : 2000 company and India’s largest manufacturer of enzymes for textile processing, offers high concentrates and standard formulations of Neutral Cellulose, Acid Cellulose, Engineered Acid Cellulose (for low colour loss) Amylases, High Temperature Stable Amylases and Catalyses, besides multizyme formulations for bioscouring, wool and silk processing and print washing.

Subject new concept in textile processing which includes Colitz, Gamakleen, EBS (Enzymatic bio-scouring) and new product range which includes Flameshield, Fragma, Hydrogard, Snocool and Fabshield further reflects the company’s dedication towards developing the quality products to meet customer’s requirements. 

Rossari’s R and D center for Biotechnology Research located in New Mumbai India constantly explore the potential for newer molecular and manufacturing new products as well as optimizing the processes. State of the Art laboratory staffed with highly qualified technocrats, fulfils the diverse requirement of a textile processing industry.  

To meet the ever widening complex requirements of customer Rossari offers total solutions through it’s wide range of textile auxiliaries and chemicals right from pretreatment to finishing stage.

• Rossari Labtech is a new company, set up for dealing in Laboratory Machines, Instruments and Standard Accessories to cater to the needs of Textile related Industry.  
• Rossari Labtech offers a wide range of machines and instruments for:
• Yarn testing and fabric testing
• Dyeing – Printing – Finishing and Testing
• Accessories and Standard Grey Scales. 

These products are designed and developed to meet latest technological requirements and are user friendly. They play an important role in :

• Standardisation of recipes and parameters
• Shade matching
• Developing new products, recipes and process parameters
• Quality control checks
• Research and development activities
• Academic institutes

Subject also offers ‘State of Art’ Laboratory Machines and Systems from the leading companies from Taiwan, Korea and Europe.

Subject is India’s largest manufacturer of enzymes and one of the leading specialty chemical manufacturers for textile processing. Subject was incorporated in 1997 and within a short span of 5 years has made a name for itself in Domestic and now in International market as well. Subject success lies in its attitude towards solving customer problems and providing them with technical services through its largest team of technical executives in India." The countries to which they are exporting their product are: Bangladesh, Sri Lanka, UAE, Malaysia, Australia, Kenya, Jordan, New Zealand, Venezuela, China, Nepal.

Subject one of the leading manufactures of textile specialty chemicals and enzymes is introducing “FABSHEILD“ Antimicrobial products and AEGIS Microbe Shield program. AEGIS Environment is America's No.1 brand of Antimicrobials registered with EPA ( U.S Environmental Protection Agency ) in 1976. Dow corning corporation is the world leading manufacturers of silicones, which exclusively produce antimicrobials for AEGIS in their ISO 9002 certified plant. 

These type of finishes prevents the growth of bacteria thus preventing diseases. It acts as odor-eater too preventing the garments from unpleasant odors. The products have been proved environmental friendly and health protecting.

The end them application are sportswear, upholstery, medical purpose socks, undergarments, building construction, etc where the growth of micro-organism are high needs to be prevented also.

The product are being used for over 20 years in textile and their product have been used by world’s leading brands like Reebok, J.C Peeny, Adidas, WALMART, Marks and Spencer, Kimberly Clark and major hospital like Arthur G. James Cancer Hospital and Research Institute in USA etc.

In India, this product has been used by Johnson and Johnson in sanitary napkins and Aqua Guard Water Filter.

Subject is now an ISO 9001:2000 company.

Subject is proud to announce that it has been accredited with ISO 9001:2000 certification recently.

The quality management system encompasses design, manufacturing and marketing of enzymes and textile auxiliaries. It will enhance the customer satisfaction by ensuring peak quality levels in products and services. 

Add to this, select band of stalwarts viz. Ms. Meher Castelino, Prof (Dr.) M. D. Teli and Mr. V.C.Gupte, join the Editorial Board of Rossera (an in-house magazine), which would augment to knowledge outflow in the latest global happenings of textiles. 

Meher castelino, a name synonymous with beauty and fashion. She is a pioneer in fashion journalism in India. Author of MANSTYLE and FASHION KALIEDOSCOPE, she is the full time fashion journalist and syndicated columnist and has been promoting Indian Model and designers in Dusseldorf since 1995. 

Mr. V.C Gupte, known for his “Computer Color Matching” is presently working with Advanced Graphic Systems (AGS), the sole distributor of Gretag Macbeth and Gain Associates. He had carried out extensive work in application of CCM techniques for textile process houses and has worked as an application specialist on international circuit. His special contribution had been the setting up of UDCT –GretagMacbeth/AGS Color science laboratory, which is the only one of its kind in India.

Prof. (Dr.) M.D.Teli, dignified personality in the field of textiles, is a full fledged professor for past 12 years and head of textile department of UICT. He is an Hon. Editor of Journal of textile association for last 10 years and well versed with technical development in various sectors of textile. Also he is known for organising a number of national and international conference with Textile Association, India and India – ITME Society. He has also completed successfully industrial projects and consultancy assignments for various industries.

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 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/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.39.44
UK Pound	1	Rs.78.93
Euro	1	Rs.57.69

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	Unfavourable & favourable factors carry similar weight in credit consideration. 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
NR		In view of the lack of information, we have no basis upon which to recommend credit dealings	No Rating

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