MIRA INFORM REPORT

Report Date :

18.11.2008

IDENTIFICATION DETAILS

Name :	OCEAN PARK MULTI TECH LIMITED
Formerly Known As :	AASHRAYA RESORTS PRIVATE LIMITED
Registered Office :	Flat No. 301, Bluechip Arcade, 3-6-111, Himayat Nagar, Hyderabad – 500029, Andhra Pradesh.
Country :	India
Financials (as on) :	31.03.2006
Date of Incorporation :	21.12.1995
Com. Reg. No.:	01-022664
CIN No.: [Company Identification No.]	U55101AP1995PLC022664
Legal Form :	A Closely held Public Limited Liability Company.
Line of Business :	Family Entertainment Centres.

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 700000
Status :	Satisfactory
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Mr. Ram Murthy (Accountant) although agreed but never parted require details. Subject is a well established company having satisfactory track records. Trade relations are fair. General financials position is satisfactory. Payments are recorded are slow but correct. The company can be considered normal for business dealings at usual trade terms and conditions.

INFORMATION DECLINED BY

Name :	Mr. Ram Murthy
Designation :	Accountant
Date :	15.11.2008

LOCATIONS

Registered Office :	Flot No. 301, Bluechip Arcade, 3-6-111, Himayat Nagar, Hyderabad – 500029, Andhra Pradesh, India.
Tel No.:	91-40-23225660
Fax No.:	91-40-23222211
E-Mail :	emveerao1@rediffmail.com
Website :	www.oceanparkgroup.com www.snowworldindia.com
Corporate Office/ Head Office :	4th Floor, Tirumala Estates, 3-6-262, Himayatnagar ,Hyderabad-500 029 Andhra Pradesh, INDIA
Tel. No.:	91-40-40213999/ 65640000
Fax No.:	91-40-23264021
E-Mail :	contact@oceanparkgruop.com
Administrative Office :	Snow World, Lower Tank Bund Road, Hyderabad, Andhra Pradesh, India.
Tel. No.:	91-40-27677948
E-Mail :	info@snowworldindia.com

DIRECTORS

Name :	Mr. Malayala T. Gupta
Designation :	Whole time Director
Address :	104, Jagannadh Residency, Achyutha Reddy Marg, Street No.6, Vidyanagar, Hyderabad – 500044, Andhra Pradesh, India.
Date of Birth :	06.10.1935
DIN No.:	00025161
Date of Appointment :	12.09.1998
Name :	Mr. Mandava V. Rao
Designation :	Managing Director
Address :	A-101, Sri Balaji Indraprastha, 1-1-508/1, Gandhi Nagar, Hyderabad – 500080, Andhra Pradesh, India.
Date of Birth :	06.04.1959
DIN No.:	00014137
Date of Appointment :	21.12.1995
Name :	Mr. Ravi Kumar Pathi
Designation :	Whole time Director
Address :	B-402, Srinivas Apartments, 1-3-343, Street No.6, Domalguda, Hyderabad – 500029, Andhra Pradesh, India.
Date of Birth :	03.07.1964
DIN No.:	00009144
Date of Appointment :	12.09.1998
Name :	Mr. Maddula K. Gupta
Designation :	Whole time Director
Address :	98C, MLA Colony, Road No.12, Banjara Hills, Hyderabad – 500034, Andhra Pradesh, India.
Date of Birth :	04.01.1945
DIN No.:	00014149
Date of Appointment :	12.09.1998
Name :	Mr. Kakubal R. Babu
Designation :	Director
Address :	Kakubal Palace, Siddiq Colony, S.N.Pet, bellary – 583101, Karnataka, India.
Date of Birth :	05.01.1953
DIN No.:	00014198
Date of Appointment :	12.09.1998
Name :	Mr. Katta N. Raghavendra
Designation :	Director
Address :	49, OTC Road, 2^nd Cross, Balepet, Bangalore-560053, Karnataka, India.
Date of Birth :	09.10.1953
DIN No.:	00014184
Date of Appointment :	12.09.1998
Name :	Mr. Bachala V. Raja
Designation :	Director
Address :	Raja Slate Co., 189, Mamulpet, Bangalore-560053, Karnataka, India.
Date of Birth :	27.08.1958
DIN No.:	00014173
Date of Appointment :	12.09.1998
Name :	Mr. Malayala A. Kumar
Designation :	Director
Address :	1-6-40/3, Station Road, Mahaboobnagar -509001, Andhra Pradesh, India.
Date of Birth :	20.06.1960
DIN No.:	00014212
Date of Appointment :	12.09.1998
Name :	Mr. Malayala R. Kumar
Designation :	Director
Address :	1-6-40/3, Station Road, Mahaboobnagar -509001, Andhra Pradesh, India.
Date of Birth :	06.03.1965
DIN No.:	00014230
Date of Appointment :	12.09.1998
Name :	Mr. Jurala Lakshminarsimhaiah
Designation :	Director
Address :	1-9-329/101, PRK Mansion, Ramnagar Gundu, Hyderabad -500044, Andhra Pradesh, India.
Date of Birth :	15.05.1946
DIN No.:	00014293
Date of Appointment :	31.12.2002
Name :	Mr. Rachuru N. Prasad
Designation :	Director
Address :	159, Kamakshi Nilayam, Gandhi Nagar Market, Bellary -583103, Karnataka, India.
Date of Birth :	01.05.1965
DIN No.:	00023295
Date of Appointment :	31.12.2002
Name :	Mr. Chavva Krishnaiah
Designation :	Director
Address :	17-71, Near Petrol Bunk, Kothakota Mandal, Mahaboobnagar – 509381, Andhra Pradesh, India.
Date of Birth :	29.04.1945
DIN No.:	00014322
Date of Appointment :	18.05.2003
Name :	Mr. Jutur Madhusudana
Designation :	Director
Address :	5/210, Bangalore Road, Bellary – 583101, Karnataka, India.
Date of Birth :	08.01.1967
DIN No.:	00061651
Date of Appointment :	12.09.1998
Name :	Mr. Jayam Sree Ranga
Designation :	Director
Address :	139/140/VII, Kambli Bazar, Bellary – 583101, Karnataka, India.
Date of Birth :	30.12.1951
DIN No.:	00014308
Date of Appointment :	18.05.2003
Name :	Mr. Puvvadi C. Sekhar
Designation :	Director
Address :	15/122, R.T.Street, Guntakal – 515801, Andhra Pradesh, India.
Date of Birth :	01.07.1961
DIN No.:	00014335
Date of Appointment :	19.07.2003
Name :	Mr. Jupudi L. Narayana
Designation :	Director
Address :	1-2-24, Domalguda, Hyderabad-500029, Andhra Pradesh, India.
Date of Birth :	01.02.1957
DIN No.:	00057705
Date of Appointment :	29.09.2003
Name :	Mr. Jupudi Raja Venkata Siva Rama Krishna
Designation :	Director
Address :	1-2-24, Himayatnagar, Hyderabad-500029, Andhra Pradesh, India.
Date of Birth :	16.07.1967
DIN No.:	00509772
Date of Appointment :	19.10.2003
Name :	Mr. Ravula G. Reddy
Designation :	Director
Address :	P.No.61, Siddardha Colony, Sainikpuri, Secunderabad-500016, Andhra Pradesh, India.
Date of Birth :	10.04.1944
DIN No.:	00014376
Date of Appointment :	04.07.2004
Name :	Mr. Malayala S. Kumar
Designation :	Director
Address :	1-6-40/3, Station Road, Mahaboobnagar -509001, Andhra Pradesh, India
Date of Birth :	27.04.1967
DIN No.:	00014240
Date of Appointment :	04.07.2004
Name :	Mr. Konijeti Kiran
Designation :	Director
Address :	13-6-445/A/4, “Kiran Villa”, Konijeti Enclave, Crystal Gardens, Ring Road, Mehedipatnam, Hyderabad-500028, Andhra Pradesh, India.
Date of Birth :	24.11.1975
DIN No.:	00014357
Date of Appointment :	03.07.2005
Name :	Mr. Appa Rao Gorapalli
Designation :	Director
Address :	N260, Ruwais housing Complex, Fertil, P.O. Box-11882, Ruwais, Abu Dhabi, Ruwais-11882.
Date of Birth :	06.01.1948
DIN No.:	00057692
Date of Appointment :	28.08.2005
Name :	Mr. Malayala Anand kumar
Designation :	Director
Address :	104, Jagannadh Residency, Achyutha Reddy marg, Vidyanagar, Street No.6, Hyderabad-500044, Andhra Pradesh, India.
Date of Birth :	01.07.1963
DIN No.:	00027870
Date of Appointment :	04.07.2004

KEY EXECUTIVES

Name :	Mr. Bikram K. Prusty
Designation :	Secretary
Address :	1-3-176/C/9/B, Padmashali Colony, gandhinagar, Hyderabad-500080, Andhra Pradesh, India.
Date of Birth :	30.05.1973
PAN No. :	AOCPP6191F
Date of Appointment :	01.11.2006
Name :	Mr. Ram Murthy
Designation :	Accountant
Name :	Mr. M. Thimmaiah Gupta
Designation :	Chairman
Name :	Mr. M. Venkateswara Rao
Designation :	Member
Name :	Mr. P. Ravi Kumar
Designation :	Member
Name :	Mr. Krishna Gupta
Designation :	Member
Name :	Mr. J.R.V.Siva Rama Krishna
Designation :	Member
Name :	Mr.Ashok Kumar
Designation :	Chairman
Name :	Mr. B.V.Raja
Designation :	Member
Name :	Mr. R. Nagendra Prasad
Designation :	Member
Name :	Mr. K.Rajendra Babu
Designation :	Member

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

Names of Shareholders	No. of Shares
Mr. K. S. Gupta	334325
Mr. M. V Rao	318328
Mr. K. C. K. A. Gupta	398619
Mr. K. Vijaya Kumar Gupta	321429
Mr. T. Prabhakar and T. Satyavathi	321429
Mr. J. Madhusudana	125000
Mr. A. Kesavulu Reddy	1929
Mr. S.V. Ramesh	1929
Mr. A.B. Guhanathan	1929
Mr. Godavarthy Srihari	1929
Mr. A Manjunath	1929
Mr. Bysani Sudheer	1929
Mr. E. N. Reddy	1929
Ms. K. Usha	1929
Ms. Vara Lakshmi	1929
Mr. M. Rajasree	1929
Mr. R. Nagendra Prasad	135004
Mr. M. Nataraja	25715
Mr. V.V. Gupta	12858
Mr.G.Chandra Sekhar	32148
Mr. B. Srinivasulu	32148
Mr. C.Sabitha	32144
Mr. D.Padmanabham	32144
Mr. M. Ashok Kumar and M. Aruna	43053
Mr. Kannaiah Setty	32144
Mr.Krishnaveni HUF and Anand Kumar	48072
Mr. R.V.Swamy	32144
Mr. D.R. koteshwara Rao	32144

AS ON 31.03.2006

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]	1.61
Directors or relatives of directors	46.04
Other top fifty shareholders	36.53
Others	15.82
Total	100.00

BUSINESS DETAILS

Line of Business :

Family Entertainment Centres.

GENERAL INFORMATION

No. of Employees :

300

Bankers :

• Axis Bank Limited

6-3-879/B, Greenlands Road, Pullareddy Buildings, Begumpet,

Hyderabad-500016, andhra Pradesh, India.

• HDFC Bank limited

Facilities :

Secured Loans As on 31.03.2006

Particulars	Rs.In Million
Term loan from Axis Bank	89.373
HDFC Bank limited	0.527
Sheba Proprietes Limited	0.367
ICICI Compressor and Cars	1.045
Total	91.312

Note: - the term loans from Axis are secured by a first charge on fixed assets of the company both present and future, personal assets of directors and their relatives. Loans from HDFC Bank Limited, ICICI Bank and G.E. countrywide are secured by hypothecation of the assets purchased from such loans.

Unsecured Loans As on 31.03.2006

Particulars	Rs.In Million
Deposits
From Others	16.203
From Directors	1.777
Total	17.980

Banking Relations :	-
Auditors :
Name :	PRV Associates Chartered Accountant
Address :	3-6-203, Ground Floor, Himayatnagar, Hyderabad-500029, Andhra Pradesh, India.
Tel. No.:	91-40-3227651 /3223289
Audit Committee:	Mr. M. Ashok Kumar-Chairman Mr. B.V.Raja-Member Mr. R.Nagendra Prasad-Member Mr.K.R.Babu-Member
Associates/Subsidiaries :	Nil

CAPITAL STRUCTURE

AS ON 31.03.2006

Authorised Capital :

No. of Shares	Type	Value	Amount
15000000	Equity Shares	Rs. 10/- Each	Rs.150.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10398350	Equity Shares	Rs. 10/- Each	Rs.103.984 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2006	31.03.2005
SHAREHOLDERS FUNDS
1] Share Capital		103.984	95.484
2] Share Application Money		0.000	1.050
3] Reserves & Surplus		21.042	12.057
4] (Accumulated Losses)		0.000	0.000
NETWORTH		125.026	108.591
LOAN FUNDS
1] Secured Loans		91.313	83.452
2] Unsecured Loans		17.980	25.900
TOTAL BORROWING		109.293	109.353
DEFERRED TAX LIABILITIES		0.000	0.000
TOTAL		234.319	217.943
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		225.734	184.615
Capital work-in-progress		4.219	33.474
INVESTMENT		0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	3.396	2.429
	Sundry Debtors	0.000	0.000
	Cash & Bank Balances	0.809	0.889
	Other Current Assets	0.651	0.461
	Loans & Advances	6.607	8.929
Total Current Assets		11.463	12.708
Less : CURRENT LIABILITIES & PROVISIONS
	Current Liabilities	11.569	16.236
	Provisions	4.676	4.320
Total Current Liabilities		16.245	20.556
Net Current Assets		(4.782)	(7.848)
MISCELLANEOUS EXPENSES		0.000	0.010
Deferred Revenue Expenditure		9.148	7.692
TOTAL		234.319	217.943

PROFIT & LOSS ACCOUNT

PARTICULARS		31.03.2006	31.03.2005
Sales Turnover		92.728	94.152
Other Income		4.247	2.998
Total Income		96.975	97.150
Profit/(Loss) Before Tax		10.190	9.924
Provision for Taxation		1.206	1.164
Profit/(Loss) After Tax		8.984	8.760
Expenditures :
	Salaries, Wages, Bonus, etc.	10.058	8.998
	Managerial Remuneration	2.280	2.220
	Payment to Auditors	0.045	0.028
	Interest	8.867	10.859
	Insurance Expenses	0.392	0.582
	Power & Fuel	13.887	17.105
	Depreciation & Amortization	23.589	24.065
	Other Expenditure	27.667	23.369
Total Expenditure		86.785	87.226

KEY RATIOS

PARTICULARS		31.03.2006	31.03.2005
PAT / Total Income	(%)	9.26	9.01
Net Profit Margin (PBT/Sales)	(%)	10.98	10.54
Return on Total Assets (PBT/Total Assets}	(%)	4.22	4.29
Return on Investment (ROI) (PBT/Networth)		0.08	0.09
Debt Equity Ratio (Total Liability/Networth)		1.00	1.19
Current Ratio (Current Asset/Current Liability)		0.70	0.61

LOCAL AGENCY FURTHER INFORMATION

Bankers Charges Report as per Registry

Name of the company

OCEAN PARK MULTI TECH LIMITED

Presented By

Shri M. Venkateswara Rao, Managing Director

1) Date and description of instrument creating the change

Deed of corporate guarantee dated :- 07.07.2005

2) Amount secured by the charge/amount owing on the securities of charge

SR.No.	Nature of Facility	Rs. In Million
1	Cash Credit	25.000

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

Corporate guarantee of M/s. Ocean Park Multitech Limited given to M/s. Prestige Avenues Private Limited for its cash credit facility of Rs.25.000 Millions sanctioned by UTI Bank Limited, Greenlands, Begumpet, Hyderabad.

4) Gist of the terms and conditions and extent and operation of the charge.

Corporate guarantee of given by Ocean Park Multitech Limited to Prestige Avenues Private Limited for its cash credit facility of Rs.25.000 Millions sanctioned by Axis Bank Limited, Greenlands, Begumpet, Hyderabad.

5) Name and Address and description of the person entitled to the charge.

Axis Bank Limited

Greenlands Road, Begumpet, Hyderabad, Andhra Pradesh, India.

This form is for	Modification of charge
Charge identification number of the modified	80005030
Corporate identity number of the company	U55101AP1995PLC022664
Name of the company	OCEAN PARK MULTI TECH LIMITED
Address of the registered office or of the principal place of business in India of the company	Flat No. 301, Bluechip Arcade, 3-6-111, Himayat Nagar, Hyderabad – 500029, Andhra Pradesh, India.
Type of charge	Immovable Property
Particular of charge holder	Axis Bank Limited 6-3-879/B, Greenlands Road, Pullareddy Buildings, Begumpet, Hyderabad-500016, andhra Pradesh, India.
Nature of description of the instrument creating or modifying the charge	Memorandum Of Entry Extension Of Equitable Mortgage.
Date of instrument Creating the charge	22.06.2007
Amount secured by the charge	Rs.5.000 Millions.
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest Rate of Interest BPLR-1.00% that is @11.00% per annum at monthly rests, payable as and when debited Terms of Repayment Repayable on demand Margin Not Applicable Extent and operation of the charge All that piece of land admeasuring 2 acres at Sy. No.166/5, 1 acres at Sy. No.166/5, 0.17 guntas in Sy. No.188, 0.36 guntas in Sy. No. 189 and 0.38 guntas in Sy. No.170 (Total 2 acres 11 guntas), 4 acres in sy. No. 168, 3 acres in Sy. No. 167/2, 3 acres in Sy. No. 169 at kokapet village, Rajendra nagar mandal, Rangareddy Dist. In the name of OCEAN PARK MULTI TECH LIMITED
Short particulars of the property charged	All that piece of land admeasuring 2 acres at Sy. No.166/5, 1 acres at Sy. No.166/5, 0.17 guntas in Sy. No.188, 0.36 guntas in Sy. No. 189 and 0.38 guntas in Sy. No.170 (Total 2 acres 11 guntas), 4 acres in sy. No. 168, 3 acres in Sy. No. 167/2, 3 acres in Sy. No. 169 at kokapet village, Rajendra nagar mandal, Rangareddy Dist. In the name of OCEAN PARK MULTI TECH LIMITED
Particulars of the present modification	No change in the limits of Rs. 5.000 Millions. Only additional properties given as security to secure the over draft facility.

AS PER WEB SITE DETAILS:

Existing Projects

Ocean Park, Hyderabad

Andhra Pradesh’s exclusive and biggest water and amusement park offering full day fun and entertainment to all walks of life.  Ocean Park is the house hold name in Andhra Pradesh and South India. 

Winner of many appreciations, accolades from industry, government houses and society.  Received Tourism Award of Excellence (2001) from the Department of Tourism - Government of Andhra Pradesh for Eco-friendly Project, Parisramiaka Vijetha Award (2002) from Andhra Pradesh State Finance Corporation.   

Snow World, Hyderabad

India’s first and world’s biggest snow leisure facility been constructed in the heart of the city on 2 Acres of land. Snow World is a themed commercial and entertainment complex and is the land mark on Indian tourism map. Snow World was inaugurated by the then Chief Minister – N Chandrababu Naidu on 26 January 2004.    

KART KAVE, Hyderabad

India’s biggest indoor go-karting track built on 35,000 square feet. KartKave has been themed with rocky caves and is expected to be the world’s biggest themed indoor go-karting track. KartKave is homologated to conduct international races and is highly popular among the youth and adults.

Crazy World, Guntur

Biggest Water and Amusement Park in entire Guntur District. Launched to offer cool entertainment for the people of hot district and nearby districts.  Most favourite destination for the nearby schools and colleges

Crazy World Water Park is the biggest water and amusement park in the Guntur District of Andhra Pradesh, India. Winner of Best Leisure Area awarded by Trade Trends in 2004

Proposed Projects

Ocean Park Multithrill Park of Hyderabad

Multi Thrill Park will be first of its kind amusement park in India hosting attractions most of which once again are first of its kind.  Multi Thrill Park not only offers thrills, adventure rides but provides a platform to interact and experience many artificially created natural phenomenon and many more.  Multi Thrill Park will cater to all walks of life from children to elderly.  It will be a platform for experiencing un-experience for every one, and will be edutainment for children and youth.  The Park will offer thrill, adventure, recreation, fun and amusement will attract tourists from all over India and will become the must-visit tourist attraction in India.

Ocean Park Film Studios at Vizag

Cinema industry has been one of the key and ever-green industries in India, particularly in Andhra Pradesh. 

Thousands of cinemas are produced in India and Indians are known for movie freaks. Telugu Movies (Andhra Pradesh) alone contributes with largest number of movies produced in India besides the other South Indian states and large chunk of Hindi Movies.  Presently very limited collective resources are available for Producers to produce the Movies.  Producers and Directors’ prefer one-stop shop for the entire production of the Movie, which are very scarce except for one, which again is not at ease for the low and medium budget films.  And, the demand for latest technology processes due to the demand for high quality movies.

Snow World at Kolkatta in collaboration with Nicco Park

The same Snow World as in Hyderabad is now going to be put in Kolkata in collaboration with NICCO Parks in their park premises itself. It will be a totally new attraction to the residents of Kolkota and now that their park is located in the heart of the new city there it will be an instant hit with the crowd there.

Sea Adventures at Chennai in Collaboration with VGP Universal kingdom

They are going to put up some new innovative rides in the VGP Universal Kingdom Park such as a Helicopter Ride, ATV’s and a fully functional water sports center inclusive of jet skis, paragliding, and other water sport activities.

FIXED ASSETS

OCEAN PARK

Ø Land

Ø Roads and buildings

Ø Plant and machinery

Ø Furniture and fixtures

Ø Vehicles

Ø Computer

Ø Solar fencing

WONDER TOONS

Ø Plant and machinery

Ø Computer

Ø Furniture and fixtures

Ø Patents and Copy Rights

SNOW WORLD

Ø Land Development and building

Ø Plant and machinery

Ø Computer

Ø Furniture and fixtures

LAND AT SHAMSHABAD

Ø Land

KART KAVE

Ø Land Development and building

Ø Plant and machinery

Ø Computer

Ø Furniture and fixtures

Ø Fire fighitng System

RAIN FOREST

Ø Land Development and building

Ø Plant and machinery

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.48.99
UK Pound	1	Rs.72.14
Euro	1	Rs.61.57

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
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		45

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	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

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