MIRA INFORM REPORT

Report Date :

18.04.2011

IDENTIFICATION DETAILS

Name :	LUXOR WRITING INSTRUMENTS PRIVATE LIMITED
Registered Office :	229, Okhla Industrial Estate, Phase – III, New Delhi – 110 020
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	08.11.1995
Com. Reg. No.:	55-073683
CIN No.: [Company Identification No.]	U74899DL1995PTC073683
TAN No.: [Tax Deduction & Collection Account No.]	DELL02132E
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Writing Instruments.

RATING & COMMENTS

MIRA’s Rating :

B (36)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 3704000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a well established and a reputed 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 : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – April 1, 2010

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

LOCATIONS

Registered Office/ Head Office :	229, Okhla Industrial Estate, Phase – III, New Delhi – 110 020, India
Tel. No.:	91-11-43113311, 26849211, 26848891, 26828314, 41613536, 41613537, 26849617, 26835607, (D) 26319137
Fax No.:	91-11-26319179, 26847602
E-Mail :	corporateenquiry@luxoroffice.com
Website :	http://www.worldofluxor.com http://www.luxorpen.com
Overseas Office :	Luxor Euro GmbH, Germany Luxor UK Limited, (London)
Factory 1 :	5, Okhla Industrial Estate, Phase III, New Delhi – 110 020, India
Tel. No.:	91-11-41613540, 41613541, 26827214, 26846106
Fax No.:	91-11-26821214
Factory 2 :	# 7, Okhla Industrial Estate, Phase III, New Delhi – 110 020, India
Factory 3 :	# 867, Udyog Vihar, Gurgaon, Haryana, India And also located at: Noida Mumbai Haridwar
Regional Sales Office :	Located at: New Delhi Kolkata Mumbai Chennai Bangalore
Signature Stores :	Located at: Ghaziabad Jaipur Agra Noida Lucknow New Delhi Hyderabad Ahmedabad Vadodara
For Export Enquiries :	Techink Industries C-42, Opposite Subros Factory, Phase – 2, District Gautam Budh Nagar, Noida - 201 305, Uttar Pradesh, India Tel: 91-120-3048013 Website : www.best-inks.com email id -: corporateenquiry@luxoroffice.com Luxor International (Private) Limited C-42, Opposite Subros Factory, Phase – 2, District Gautam Budh Nagar, Noida - 201 305, Uttar Pradesh, India Tel: 91-120-3047000-28 Fax: 91-120-3047023-24 E-mail : Luxor@vsnl.com Website: www.luxorpen.com email id -: corporateenquiry@luxoroffice.com

DIRECTORS

As on 30.09.2010

Name :	Mr. Davinder Kumar Jain
Designation :	Chairman cum Managing Director
Address :	D – 19, Nizamuddin East, New Delhi – 110 013, India
Date of Birth/Age :	19.02.1943
Date of Appointment :	08.11.1995
DIN No.:	00055350
Name :	Ms. Pooja Jain
Designation :	Whole Time Director
Address :	D – 19, Nizamuddin East, New Delhi – 110 013, India
Date of Birth/Age :	22.10.1974
Date of Appointment :	08.11.1995
DIN No.:	00055375
Name :	Mr. Pankaj Jain
Designation :	Director
Address :	D – 19, Nizamuddin East, New Delhi – 110 013, India
Date of Birth/Age :	13.04.1971
Date of Appointment :	15.03.1996
DIN No.:	00055373
Name :	Mr. Vijay Kumar Jain
Designation :	Additional Director
Address :	B-167, SFS DDA Flats, Sarita Vihar, Mathura Road, New Delhi – 110 044, India
Date of Birth/Age :	05.06.1936
Date of Appointment :	01.04.2011
DIN No.:	00055376

KEY EXECUTIVES

Name :	Mr. Anil Kumar Vanjani
Designation :	Secretary
Address :	B – 2/ 112, Paschim Vihar, Delhi – 110 063, India
Date of Birth/Age :	02.02.1963
Date of Appointment :	25.06.2001
Date of Ceasing :	31.01.2009

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

Names of Shareholders	No. of Shares
Davinder Kumar Jain	1599750
Pooja Jain	108625
JHPL Holdings Private Limited, India	641875
Payal Kapoor	59250
Priya Jain	59250
Total	2468750

As on 30.09.2010

Equity Share Breakup	Percentage of Holding
Category
Bodies corporate	26.00
Directors or relatives of directors	74.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Writing Instruments.

Products :

Item Code No. (ITC Code)	96.08
Product Description	Writing Instruments
Item Code No. (ITC Code)	32.15
Product Description	Ink
Item Code No. (ITC Code)	96.08
Product Description	Tips

PRODUCTION STATUS (As on 31.03.2010)

Particulars	Unit	Actual Production
Writing Instruments	Nos.	66084373
Ink Bottles	Nos.	5525
Fixtures/ Machines – for captive use/ for sale	Nos.	30

GENERAL INFORMATION

Bankers :

• Canara Bank, Okhla Industrial Estates, New Delhi – 110 020, India
• Dena Bank, Okhla Industrial Estate, Phase-III, New Delhi – 110 020, India
• Standard Chartered Bank, Credit Risk Control, H-2, Connaught Circus, New Delhi – 110 001, India
• Kotak Mahindra Bank Limited, 15-16 Upper Ground Floor, Ambadeep Building, 14, Kasturba Gandhi Marg, New Delhi – 110 001, India

Facilities :

Secured Loans	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
From Banks: Term Loan (secured against first charge on the immovable properties and plant and machinery of the Company's plant situated at Haridwar) [Amount payable within one year Rs.32.691 millions, previous years.32.691 millions)]	99.462	129.983
Working Capital Finance From Bank ( Secured against the first charge on the total stocks and book debts of the Company and fixed assets (excluding the land and building) of the factory located at Udyog Vihar, Gurgaon)	70.539	110.469
From Others: Finance for Motor Cars (Against Hypothecation of Cars) [Amount payable within one year Rs.3.071 millions, previous year Rs.7.150 millions)]	4.325	9.332
Total	174.326	249.784

Unsecured Loans	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
Loans From Directors	97.350	77.100
Loans From Body Corporate	97.500	112.500
Total	194.850	189.600

Banking Relations :	--
Auditors :
Name :	S. Kalra and Associates Chartered Accountants
Address :	24, Manak Vihar, I.P. Extension, Part – II, New Delhi – 110 092, India
Tel. No.:	91-11-22151632
Fax No.:	91-11-22142850
E-Mail :	skalra4@gmail.com skalra4@vsnl.net skalra4@hotmail.com
Associates :	Hi Line Pens Private Limited L.P. Pens Private Limited
Vendors/Other Associates :	Kakkar Brothers Luxor International Private Limited Luxor Pen Company Technik Industries Luxor Infotech Luxor Foundation Laguna Holding Private Limited Ideal Hitech Engineering Equipment Private Limited Luxor Nan Technology Private Limited Processors Corporation Private Limited Luxor Cyber City Private Limited Luxor India Private Limited Luxor Retail Private Limited Luxor Global Brand Marketing Private Limited JHPL Holding Private Limited Prosperious Estate Private Limited Uppal Info and Biotechnologies Private Limited Halk Toen Planners Private Limited Luxor Infra Tech Private Limited Edenpark Hotels Private Limited Plastchem Private Limited Hazel Foods Private Limited

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
5000000	Equity Shares	Rs.10/- each	Rs.50.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2468750	Equity Shares	Rs.10/- each	Rs.24.688 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		24.688	24.688	24.688
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		1575.698	1575.698	1575.698
4] (Accumulated Losses)		(674.456)	(688.166)	(689.977)
NETWORTH		925.930	912.220	910.409
LOAN FUNDS
1] Secured Loans		174.326	249.784	132.645
2] Unsecured Loans		194.850	189.600	70.000
TOTAL BORROWING		369.176	439.384	202.645
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		1295.106	1351.604	1113.054
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		746.307	414.371	393.376
Capital work-in-progress & Capital Advances		78.314	342.135	195.077
INVESTMENT		11.260	0.010	0.010
DEFERREX TAX ASSETS		98.927	99.870	97.306
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	350.214	352.141	376.373
	Sundry Debtors	166.563	136.980	109.174
	Cash & Bank Balances	12.859	48.338	25.050
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	40.574	160.652	106.811
Total Current Assets		570.210	698.111	617.408
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	172.711	162.448	140.878
	Other Current Liabilities	29.368	34.163	43.427
	Provisions	7.833	6.282	5.818
Total Current Liabilities		209.912	202.893	190.123
Net Current Assets		360.298	495.218	427.285
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		1295.106	1351.604	1113.054

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	1267.973	1222.561	1201.419
		Other Income	2.563	102.005	11.863
		TOTAL (A)	1270.536	1324.566	1213.282
Less	EXPENSES
		Cost of Materials & Manufacturing Expenses	852.269	845.993	867.451
		Personnel, Administrative & Selling Expenses	363.319	404.262	358.215
		Increase/(Decrease) in Stocks	(14.828)	23.275	(44.840)
		TOTAL (B)	1200.760	1273.530	1180.826
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		69.776	51.036	32.456
Less	INTEREST & FINANCIAL EXPENSES (D)		29.159	22.231	6.381
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		40.617	28.805	26.075
Less/ Add	DEPRECIATION/ AMORTISATION (F)		25.964	23.162	16.024
	PROFIT BEFORE TAX (E-F) (G)		14.653	5.643	10.051
Less	TAX (H)		0.943	3.832	19.082
	PROFIT AFTER TAX (G-H) (I)		13.710	1.811	(9.031)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(688.166)	(689.977)	(680.946)
	BALANCE CARRIED TO THE B/S		(674.456)	(688.166)	(689.977)
	IMPORTS
		Raw Materials, Components & Finished Goods	177.527	156.015	159.802
		Capital Goods	7.774	6.560	5.022
	TOTAL IMPORTS		185.301	162.575	164.824
	Earnings Per Share (Rs.)		5.55	0.73	NA

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	1.08	0.14	(0.74)
Net Profit Margin (PBT/Sales)	(%)	1.16	0.46	0.84
Return on Total Assets (PBT/Total Assets}	(%)	1.11	0.51	0.99
Return on Investment (ROI) (PBT/Networth)		0.02	0.01	0.01
Debt Equity Ratio (Total Liability/Networth)		0.63	0.70	0.43
Current Ratio (Current Asset/Current Liability)		2.72	3.44	3.25

LOCAL AGENCY FURTHER INFORMATION

OPERATIONS:

During the year sales and other income has been at Rs.1270.536 millions, as against previous year’s sales and other income of Rs.1324.566 millions. Also, the company has registered the Profit before tax for the year at Rs.14.653 millions as against previous year’s profit of Rs.5.643 millions.

FORM 8:

Name of the company	LUXOR WRITING INSTRUMENTS PRIVATE LIMITED
Presented By	Canara Bank
1) Date and description of instrument creating the change	Hypothecation Agreement of goods and book debts dated 21.11.2005
2) Amount secured by the charge/amount owing on the securities of charge	Rs.9.240 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	a) All the goods and commodities such as gel pens and glitter gel pens or any other goods acceptable to the Bank purchased, acquired, received under FLC/ ST now lying or hereafter stored at the godowns, yards and premises in 229, Okhla Industrial Estate, Phase – II, New Delhi or lying at any other place wheresoever. b) All the book debts, outstandings, money receivable, claims and bills arising out of the sale, disposal of the goods received under said which may at any time during the continuance of this security becomes due and owing to the borrower in the course of its business by any persons, firm, company or by the Government or any local body or authority.
4) Gist of the terms and conditions and extent and operation of the charge.	The above is to secure FLC/ ST limit of Rs.9.240 millions with interest @ 16.25% p.a. or at such other rates as may be specified by the Bank from time to time.
5) Name and Address and description of the person entitled to the charge.	Canara Bank, Okhla Industrial Estates, New Delhi – 110 020, India
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	U74899DL1995PTC073683
Name of the company	LUXOR WRITING INSTRUMENTS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	229, Okhla Industrial Estate, Phase – III, New Delhi – 110 020, India E-Mail: mahesh.gupta@luxoroffice.com
This form is for	Modification of charge
Charge identification number of the modified	10264914
Type of charge	Immovable Property
Particular of charge holder	CIN No.: L65110MH1985PLC038137 Kotak Mahindra Bank Limited, 15-16 Upper Ground Floor, Ambadeep Building, 14, Kasturba Gandhi Marg, New Delhi – 110 001, India E-Mail: praveen.dm@kotak.com
Nature of description of the instrument creating or modifying the charge	Memorandum of deposit of title deeds.
Date of instrument Creating the charge	18/02/2011
Amount secured by the charge	537,200,000.00
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest: As per sanction letter dated 14.01.2011 Terms of Repayment: As per sanction letter dated 14.01.2011 Margin: As per sanction letter dated 14.01.2011 Extent and Operation of the charge: Extent and operation - 100% Others: The above is to secure the following :- Working Capital Facilities= Rs.200.000 millions Term Loans = Rs.337.200 millions ------------------------------ Total = Rs. 537.200 millions ------------------------------
Short particulars of the property charged	Hypothecation by way of first and exclusive charge over all present and future current assets and movable fixed assets of the company stored or to be stored at company's godowns or premises or wherever else the same may be.
Particulars of the present modification	Credit facilities of Rs.537.200 millions already secured by 1^st and excl. charge over all P/F current assets and movable fixed assets of the company shall now also be additionally secured by company's immovable property i.e. all that piece and parcel of land bearing Plot No. 107 adm. 7937.50 sq. mtrs. situated in Sector 7, Integrated Industrial Area, BHEL, Ranipur, Haridwar, Uttarakhand together with all buildings, structures and plant and machinery, if any, affixed to the earth or permanently affixed to something attached to the earth.

This form is for	Creation of charge
Corporate identity number of the company	U74899DL1995PTC073683
Name of the company	LUXOR WRITING INSTRUMENTS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	229, Okhla Industrial Estate, Phase – III, New Delhi – 110 020, India
Type of charge	Immovable Property Others (Plant and Machinery)
Particular of charge holder	Dena Bank, Okhla Industrial Estate, Phase-III, New Delhi – 110 020, India E-Mail: okhla@denabank.co.in
Nature of description of the instrument creating or modifying the charge	Agreement of Hypothecation (movable assets to secure multiple facilities) and equitable mortgage
Date of instrument Creating the charge	09/06/2008
Amount secured by the charge	Rs.150.000 millions
Brief particulars of the principal terms an conditions and extent and operation of the charge	Rate of Interest: BPLR (Presently 13.00%) + Term Premium (0.50%) - 0.75% i.e. 12.75% p.a. at present, subject to change from time to time as per HO/RBI Terms of Repayment: In 16 equal quarterly installments of Rs.9.375 millions with the first installments due on 30.06.2009 Margin: 25% Extent and Operation of the charge: Upto 100%
Short particulars of the property charged	Land and Building situated at Plot No. 107, Sector-7, Integrated Industrial Area, Bhel Ranipur, District Haridwar and all tangible movable fixed assets of the borrower of the nature of plant and machinery, tools, lying at aforesaid premises.

CONTINGENT LIABILITY:

Particulars	31.03.2010 (Rs. in millions)
Bank Guarantee Outstanding	3.200

FIXED ASSETS:

• Goodwill
• Trademarks and Copyrights
• Freehold Land
• Leasehold Land
• Plant and Machinery
• Moulds
• EDP
• Generator Set
• Office Equipment
• Electrical Installation
• Vehicles
• Furniture and Fixtures
• Leasehold Improvement
• Factory Building

WEBSITE DETAILS:

HISTORY:

Founded in 1963 by Mr. D.K. Jain, the Luxor Group has emerged as the undisputed market leader in the writing instruments industry – both in India and abroad. During the journey spanning nearly five decades, the Group has relentlessly pursued an upward growth path and the long-term goal of building a globally acclaimed, well-diversified conglomerate is turning into a reality.

Stepping Stones to Success

What started as a small venture in the crowded lanes of Old Delhi, has evolved into India’s No. 1 manufacturer and exporter of writing instruments – operating 10 state-of-the-art facilities in NCR-Delhi and Mumbai and producing more than one million pens a day. Today, Luxor products enjoy unrivalled patronage not only in India but in more than 75 countries across the world. In a survey conducted in 2004, Luxor has been declared an Indian Superbrand, the only company in the writing instrument industry to be bestowed this honour.

In the five decades since its inception, the Luxor Group has been continuously raising the bar in technological competence and gaining recognition as a leader and innovator. Under Mr DK Jain’s able guidance, the company started producing home-grown Indian pens using backward integration and leveraging the most advanced technologies. The Group currently manufactures a wide array of writing instruments, stationery and accessories – catering to an extensive range of consumers with diverse preferences. The Luxor brand is a registered trademark in more than 120 countries and belongs to an exclusive club of top 101 brands hailing from various industry segments in India. 

The Luxor Group pioneered fibre-tip and roller ball pens in India way back in 1975 – creative innovations which instantly caught users’ fancy for their superior performance, great convenience and distinct style. In 1982, the company joined hands with Pilot Corporation of Japan and brought the Pilot ‘hi-tec’ needle point pens to India. Another major breakthrough came in 1986 as Luxor introduced permanent markers, dry safe ink markers and fluorescent highlighters to address the diverse requirements of its global clientele. The company offers a dazzling array of products to meet the sketching, drawing and colouring needs of junior citizens.

Bringing in the Brand Edge
The 90s were significant in more ways than one as the Luxor Group continued to thrive even in the face of fierce competition from large multinationals and leading international brands. In a bid to ensure incremental growth, the Group choose to re-invent itself and opted for a three-pronged strategy including modernisation, exports expansion and tie-ups with coveted international brands. In 1980, an exclusive international business division (Luxor International) was set up to promote and sell the Luxor Brand far beyond Indian boundaries while the Group decided to bring under its umbrella some of the most famous foreign makes to serve a vast and quality-conscious Indian consumer base.

Keeping in mind the resounding success of the Luxor-Pilot tie-up, the Group decided to follow the same strategic approach with Brand Parker in 1996. PaperMate (1999) and Waterman (2003) followed suit and the Luxor Group now acts as their preferred business partner in India, holding the manufacturing and marketing franchise.

Positioned as premium lifestyle accessories instead of everyday utility item, the Parker & Waterman from the House of Luxor remain the preferred choice of the upwardly mobile. Celebrity endorsements were also sought to promote these high-end writing jewels, and legendary movie star, Amitabh Bachchan, was signed up as the Parker brand ambassador. Never an organisation to rest on its laurels, the organisation has further conceptualised the Louis Charron range in 2006 – an exclusive collection of designer pens coveted by the discerning. Luxor also plans to unleash a range of accessories, such as key chains and wallets, under the same brand.

Diversification Drive
Taking forward its unbeatable saga of excellence and total customer commitment, the Luxor Group today is diversifying into various fields. From Hospitality and Real Estate to Retail, the ventures are many and the new initiatives are working out well to propel the Group to greater heights.

In 2002, Luxor acquired the ITDC-promoted Qutub Hotel in the Capital city of Delhi and diversified into Real Estate development a year later. Luxor tied up with leading technology firms in 2005, in a bid to make foray into the fibre optic & broadband segment. Retail is another focus area and a chain of company-owned Luxor Signature outlets are being set up across the country for showcasing the entire range from the house of Luxor.  

What Sets Us Apart
Over the years, the Luxor Group has been bestowed numerous Awards and Certifications for Quality, innovation and product design. The Group lays great emphasis on Research & Development to bring the best writing solutions to its vast customer base while leveraging cutting-edge technologies and best industry practices to enhance product quality and performance. Luxor’s unfailing commitment to Quality has been further endorsed by a series of ISO certifications which ensure flawless compliance with international standards. The company also takes greatest possible care to ensure the safety, health and welfare of its staff and the communities living around its facilities. Luxor’s fundamental purpose is to cherish the vision of growth in established and new domains, and foster sustainable & integrated growth. With an impressive past and a powerful present to guide it forward, the Luxor Group is all set to build upon its achievements in the years ahead.

IDEOLOGY

In an attempt to achieve the ultimate goal of perfection in the field of Writing Instruments, they are fully dedicated to continued efforts of creation and improvements. They endeavour to create a mutually beneficial environment for Clientele, staff, contractors, sub-contractors among which the balance is achieved and the objective of the enterprise is fulfilled. They also aim at providing production skills, quality and managerial values.

COMPANY PROFILE

Luxor Group of Companies, headed by Mr. D K Jain, President of the Company, started manufacturing writing Instruments in India in the year 1963. Today LUXOR is the brand leader in Indian Writing Instrument Industry, having market share of over 20 percent with an excellent network of dealers and distributors. Luxor was formed in the year 1991. As of today Luxor is a leading manufacturer and exporter of Writing Instruments from India with over 15 percent of Export Market Share with its 4 manufacturing facilities in New Delhi and 3 at Bombay, employing over 600 people.

MILESTONES

Luxor was the first to introduce many new technologies in the Indian Market i.e. Pigment Fluorescent Highlighters, Xylene Free Markers, Ceramic Roller Pens, Needle Point Pens, OHP pens etc. Luxor is the first company which is recognized by the Government of India as an Export House Manufacturing and Exporting Quality Writing Instruments to over 45 countries all over the World. Luxor also bagged another first the coveted ISO-9002 certification for unsurpassed quality of its products.

BOARD OF DIRECTORS:

D. K. Jain – Chairman and President, Luxor Group

As the Chairman and President of the Luxor Group, Mr. D.K. Jain has established a “Super Brand” and guided the company to great heights. Under his able leadership, a strong foundation has been laid for Brand Luxor’s exponential growth and the business house has emerged as India’s leading manufacturer and exporter of premium writing instruments. Luxor has maintained its position as India’s No.1 Exporter of writing instruments for the sixth consecutive year – a rare feat as the brand has never failed to be recognised, purchased and valued across the globe. Motivated by his inspiring vision and exceptional capabilities, the Group has further diversified into core industry segments such as hospitality, real estate, retail -reaching new milestones and scripting new success stories.

The patriarch of the Luxor group has several accolades to his credit including the Lifetime Achievement Award in 2004 and the Distinguished Entrepreneurship Award in 2005. The Samman Patra and the Sirmour Punjabi Award for outstanding contribution also came his way. Mr. Jain is the founder of the Writing Instrument Manufacturers’ Organisation (WIMO), an alliance of more than 900 SSI firms, which plays a crucial role in promoting the Indian writing instrument industry both at the domestic and the global markets.

As a responsible corporate citizen, Mr. Jain is deeply involved in philanthropic activities and inspires people to follow similar values. The industry stalwart also acts as the Chairman of Luxor Foundation, a charitable trust engaged in educating the underprivileged.

MANUFACTURING FACILITIES:

The success story of Luxor is an example of unhindered self-confidence in oneself, and is a milestone in the saga of enterprise. It all started from a small manual assembly shop in the Sadar Bazaar area of old Delhi, in the year 1963. Armed with the power of hard work and ambition, it started a new era in the field of writing instruments.

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.44.52
UK Pound	1	Rs.72.72
Euro	1	Rs.64.41

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	4
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	4
--LEVERAGE	1~10	4
--RESERVES	1~10	4
--CREDIT LINES	1~10	4
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		36

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

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

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

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
-	NB	New Business	-

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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