MIRA INFORM REPORT

Report Date :

23.04.2011

IDENTIFICATION DETAILS

Name :	CENTRE FOR MATERIALS FOR ELECTRONICS TECHNOLOGY

Headquarters :	Panchawati, Off Pashan Road, Pune – 411008, Maharashtra

Country :	India

Financials (as on) :	31.03.2010

Year of Establishment :	1990

Legal Form :	A Scientific Society under Department of Information Technology, Ministry of Communications and Information Technology, Government of India

Line of Business :	Subject carries research and development on electric materials.

RATING & COMMENTS

MIRA’s Rating :

Ba (50)

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

Maximum Credit Limit :	--

Status :	Satisfactory

Payment Behaviour :	Usually Correct

Litigation :	Clear

Comments :	Subject is an autonomous scientific society which operates under Ministry of Communications and Information Technology, Government of India. It is an established centre having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be correct and as per commitments. Initially, subject can be considered normal for business dealings at usual trade terms an conditions.

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

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

LOCATIONS

Headquarters and Pune Laboratory :	Panchawati, Off Pashan Road, Pune – 411008, Maharashtra
Tel. No.:	91-20-25898141/25898390/25899273
Fax No.:	91-20-25898085/25898180
E-Mail :	amalnerkar@cmet.gov.in
Website :	www.cmet.gov.in

Hyderabad Laboratory :	IDA Phase III, Cherlapally, HCL (PO), Hyderabad, India
Tel. No.:	91-40-27265673/27262437/27260327
Fax No.:	91-40-27261658
E-Mail :	tlprakash@cmt.gov.in

Thrissur Laboratory:	Mulangunnath Kavu, Athani (PO), Thrissur – 680581
Tel. No.:	91-487-2201156-59
Fax No.:	91-487-2201347
E-Mail :	krdayas@cmet.gov.in

STEERING AND EXECUTIVE COMMITTEE OF C-MET (2009-2010)

STEERING COMMITTEE

EXECUTIVE COMMITTEE

Prof. K. A. Padmanabhan Chairman

Professor of Eminence, Anna University,

Administrative Building, Students' Affairs Wing,

Anna Universtiy,

Chennai- 600 025

Dr. D. P. Amalnerkar
Chairman

Executive Director

Centre for Materials for Electronics Technology

Panchwati,

Off Pashan Road

Pune-411 008

Dr. U. P. Phadke Member

Group Coodinator, R and D in Electronics Group Department of Information Technology

Electronics Niketan, 6, CGO, Complex,

New Delhi - 110 003

Dr. Krishna Kumar Member

Scientist 'G' and Head MandC Division Department of Information Technology Electronics Niketan, 6 CGO Complex, New Delhi - 110 003

Prof. T. R. N. Kutty Member

Chairman, Working Group,

Electronics Materials Development Programme

(EMDP), No. 48, HMT Layout, 7th Cross / 7th Main,

Rebindranath Tagore Nagar (PO)

Bangalore - 560 012

Shri J. K. Tyagi Member

Deputy Financial Advisor Department of Information Technology Electronics Niketan, 6 CGO Complex, New Delhi - 110 003

Dr. Murali Sastry Member

Chief Scientist,

Tata Chemicals Innovative Centre,

Ghotavde Phata, Urawde Road,

Pirangut Industrial Area, Gat No. 1139/1,

Mulshi, Pune-412 108

Shri G. Bhattacharya Member

Joint Director, ABC Division Department of Information Technology Electronics Niketan, 6 CGO Complex, New Delhi - 110 003

Dr. V. C. Sahni Member

Director, RRCAT, Indore

and Director, Physics Group,

Bhabha Atomic Research Centre,

Trombay,

Mumbai - 400 085

Dr. T. L. Prakash Member

Director

Centre for Materials

for Electronics Technology

Hyderabad - 500 051

Dr. D. Banerjee Member

Chief Controller,

RandD (AMS) and DS

DRDO Headquarters R. No. 301,

DRDO Bhawan

New Delhi-110 011

Dr. K. R. Dayas Member

Director (Acting)

Centre for Materials

for Electronics Technology

Thrissur - 680 771

Dr. K. N. Ninan Member

Outstanding Scientist and

Dy. Director - PCM PPCM Entity, VSSC

Thiruvananthapuram - 695 022

Dr. U. P. Mulik Member

Programme Coordinator (Acting)

Centre for Materials

for Electronics Technology

Panchwati, Off Pashan Road

Pune-411 008

Dr. D. P. Amalnerkar Member

Executive Director

Convener Centre for Materials

for Electronics Technology

Panchwati, Off Pashan Road

Pune-411 008

Shri P. I. Sadanandan Member

Registrar Secretary

Centre for Materials

for Electronics Technology

Panchwati, Off Pashan Road

Pune-411 008

BUSINESS DETAILS

Line of Business :

GENERAL INFORMATION

Bankers :	NA

Facilities :	--


Banking Relations :

Auditors :
Name :	P, N, Phadke and Company Chartered Accountant
Address :	103, Megh Apts, S. No. 39133, Opp. Ayurvedic Rasshai and Off Karve Road, Pune - 411 004.
Tel. No.:	91-120-25464243,25462236.

Associates/Subsidiaries :	NA

CAPITAL STRUCTURE

NOT AVAILABLE

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2010	31.03.2009

CORPUS/CAPITAL FUND	178.437	166.843
CURRENT LIABILITIES AND PROVISIONS (Including Sponsored Project)	261.348	130.346

TOTAL	439.785	297.189

FIXED ASSETS	88.373	92.446
CURRENT ASSETS, LOANS & ADVANCES	351.413	204.744

MISCELLANEOUS EXPENSES (To the extent not written off or adjusted)	0.000	0.000

TOTAL	439.785	297.189

PROFIT & LOSS ACCOUNT

PARTICULARS		31.03.2010	31.03.2009
SALES
	Revenue Grants	73.616	59.726
	Income from Services	19.976	3.910
	Interest Earned	13.637	11.472
	Other Income	0.512	1.191
	TOTAL (A)	107.741	76.299

EXPENSES
	Establishment Expenses	71.860	55.579
	Laboratory and Administrative Expenses	19.054	15.299
	Depreciation	12.618	13.878
	TOTAL (B)	103.532	84.756

Surplus / (Deficit) for the year		4.210	(8.457)

Balance transferred to / From Corpus l Capital Fund		4.210	(8.457)

LOCAL AGENCY FURTHER INFORMATION

INTRODUCTION

Centre for Materials for Electronics Technology (C-MET) has been set up as a Registered Scientific Society in March 1990 under Department of Information Technology (formerly Department of Electronics) as a unique concept for development of viable technologies in the area of materials mainly for electronics. C-MET is operating with 3 laboratories located at Pune, Hyderabad and Thrissur with specialized research mandate at each place.

OBJECTIVES

The objectives of C-MET are:

To establish the technology up to pilot scale for a range of electronic materials and transfer the same to industry for commercialization

To establish relevant characterization facilities

To undertake applied research activities in the area of its operation

To establish national data base on Electronics Materials

C-MET has set up its vision, mission and strategy to achieve its objectives.

THE VISION

C-MET will become a premier RandD organization known all over the world for its knowledge base, innovations and expertise in Electronic Materials

THE MISSION

To develop knowledge base in electronic materials and their processing technology for Indian industries and to become a source of critical electronic materials, know-how and technical services for the industry and other sectors of economy

C-MET'S LABORATORIES AND CORE COMPETENCE

C-MET's RandD activities have been implemented in three laboratories at Pune, Hyderabad and Thrissur. The laboratory at Pune functions as headquarters and extends central coordination support. Each of these laboratories has its own area of specialization with requisite infrastructure and expertise. This approach has proven to be successful in creating core competence at each laboratory.

TECHNICAL ACTIVITIES AND PROGRESS DURING 2009-10

During the year 2009-2010, the main technical activities of C-MET covered the following areas:

Core proj ects supported by Department of Information Technology, Government of India
Grant-in-Aid projects from various government funding agencies like DST, MNRE, ISRO, BARC, BRNS, NPMASS, DRDO etc.
Technical services
Materials characterization services

Core Program:

During the 11th Plan, it is proposed to have a more coordinated and focused approach to the R and D area where C-MET can deliver by exploiting its long experience in the development of electronic materials and expertise gained hitherto and through inter- laboratory research integration.

As per decision taken by the Governing Council of C-MET during 2007-08, the projects proposed in 11^th Plan were thoroughly reviewed with respect to the approach and strategy and accordingly, it is proposed to implement five major programs as enlisted in the following table

Core Program	Selection Criteria	Broad Objectives
Integrated Electronics Packaging	• Strategic Requirement • Potential Hub for Electronics Packaging Solutions	• Development of LTCC Materials of integrated passive components • Development of High Density • Development of LTCC Applications Interconnects

Nanomaterials and devices	• Advanced Research • Entrance in Cutting-edge Technology • Potential for Knowledge Process Outsourcing	• Large-scale generation of Nanopowders in a Transferred/Non-transferred Arc Plasma Reactor • Development of Quantum Dots of Semiconductors and Metals in Various Organic Matrices for Optoelectronics and Electronics • Development of Polymer Nanocomposites • Development of Nanomaterials for Photonics and Electronics • Nanoelectronics: Training and Certification
Ultra high purity materials	•Technology transfer possibilities •Probable pilot plant facility under TDMS of UHP metals to meet limited demands of strategic sectors	•Development of process technology for refractory metal nanopowders •Pilot plant scale production of UHP @ 2Kg per batch for opto-electronic applications •Development of process technology for Single Crystals •Development of other compound semiconductor materials for MBE •Technology Transfer of Refractory Metals production to Strategic Sector
Materials for Renewable Energy	• Energy Storage/ Conversion Oriented Applications •Potential for Knowledge Process Outsourcing	•Development of Glass/Polymer Nanocomposites for Optoelectronics and Energy Applications •Development of transparent conducting oxides for Electronics and Optoelectronics •Development of nanoporous materials (aerogels) for strategic and industrial applications •Development of conducting aerogels for electronic applications
Piezo sensors and Actuators	•For strategic and allied applications	•Development of Nano Material based Thick Film Sensors •Development of Nanoceramics for Microactuator and Varactors.

All these programs are supplemented / complimented by Grant - in - Aid sponsored project

Externally Funded Projects

In addition to ongoing sponsored projects continued from the last year, C-MET has initiated 12 new grant-in-aid projects and technical services projects during the year.

C-MET had an external funding (IEBR) to the tune of Rs.262.572 Millions during the year 2009-10. The unit wise sponsored project funding pattern is depicted in Figure 3.

Materials Characterization Services

The expertise and infrastructure developed at C-MET during the previous years, were effectively utilized by providing materials characterization services to outside organizations which included private industries, RandD institutes, strategic sectors and others. C-MET generated an internal revenue of Rs.0.439 Million from materials characterization services for outside samples.

LABORATORYWISE TECHNICAL PROGRESS DURING 2009-10

i) Pune Laboratory Core Projects:

Developmental activities at C-MET, Pune consists of Integrated Electronics Packaging and Nanomaterials and devices. The salient features of the progress made during the year2009-2010 are as follows.

Area

Physical Targets

Achievements

Integrated Electronic Packaging

Development of lead-free electroplating bath for solders bumping

Ni and Cu Plating as UBM using commercially available plating baths have been identified as UBM of choice. Experiments for optimization are in progress.

Nanomaterials and devices

Initial trials and optimization to obtain sub-micron / nano-powders of Ag, Au, Cu, CuO in a Transferred Arc Plasma Reactor

Characterization and subsequent processing of glass samples and nanocomposites

Preparation of organometallic / inorganic precursors and process development of passivated free standing QDs of IV-VI semiconductors

Nanopowders of Al were prepared by using TAPR system by varying the Plasma power (15-25 KW). Variation in flow rates of quench gas and plasma gas composition e.g. Ar, N2, H2 on particle size and its distribution were studied

Al nanopowders were characterized by using SEM-EDX, AFM, XRD to study the particle size, distribution and its composition. The results obtained reveal the formation of almost mono-dispersed Al nanopowders and <100 run in size.

The preparation of CdSSe glass nanocomposite has been optimized to exhibit optical cut off 600-630 nm. The thermal study of the same is in progress Conditions leading exclusively to formation of either broad-absorbing and narrow-emitting CdSe quantum dots or sharp-absorbing and broad-emitting CdSe "magic-sized" nano-crystals have been further optimized.

Novel single source Cd/Se precursor and QDs from it has been developed.

	Title	Funding Agency	Status	Rs. (Millions)
1	Synthesis of Nano Particles of Noble and Transition Metals for Application in Electronic Packaging and Optoelectronics	DIT	Completed	5.130
2	Development of 'lead free' thick film thermal sensors using Ru02 based nano size complex materials.	DIT	Completed	2.240
3	Development of nanostructured binary spinel sulphides for hydrogen generation using solar energy.	ISRO	Completed	1.021
4	Large-scale generation of Nanosized Metals/Metal Oxides/Metal Nitrides in a Transferred Arc Plasma Reactor	DIT	Ongoing	41.800
5	Development of Multilayer LTCC Substrates for Thin Film Gas Sensors	BRNS	Ongoing	2.474
6	Ti02-Phosphate glass nanocomposite for Nonlinear Optical application.	RBNS	Ongoing	1.641
7	Development of Lead Free X-ray absorbing materials	DIT	Ongoing	9.119
8	Development of nanostructured semiconductor chalcogenide spinels-visible light photocatalyst for hydrogen generation.	MNRE	Ongoing	2.240
9	Development of LTCC packages for microcantilever sensors for detection of vapours of explosive chemicals	PSA Office	Ongoing	1.000
10	Studies on surface capped semiconductors quantum dots: Novel Synthesis by chemical and sonochemical methods and investigations.	DST	Ongoing	1.825
11	Development of solar light driven nanostructured ZnIn2S4 photocatalyst for hydrogen generation.	DST	Ongoing	2.240
12	Q-Semiconductor glass nanocomposite for optical and energy (using solar light) applications.	DIT	Ongoing	45.126
13	Scale up of coloured glass	Tech. Services	Ongoing	0.482
14	Development of a scalable LTCC process for packaging of specific thin film devices	BARC	Ongoing	4.970
15	AMC and Spares for MEMS FAB equipment at C-MET, Pune	NPMASS	Ongoing	6.690
16	Integrated LTCC Packages for MEMS devices and LTCC Structural elements	RandDE (Engrs)	Ongoing	9.900
17	Development of Advanced Processing capabilities in LTCC	DIT (NPMAS)	New	81.660
18	Development of feed throughs for packaging of IR detectors	SSPL, DRDO	New	0.980
19	Development, production and limited supply of LTCC packaged Thin Film Devices	BARC	New	19.870
20	Development of Microwave components in LTCC	CRL, BEL	New	0.270

The consolidated progress in respect of these grant-in-aid projects is given below:

Integrated Electronics Packaging:

Design of jigs for Kovar attachment has been completed.
Shrinkage optimization of base layer package has been completed.
The prototype integrated thin film gas sensor substrates was submitted to BARC and the performance evaluated
The integrated thin film gas sensor package contains embedded heater and thermistor. Sn02 based thin film gas sensor film on the top surface is to be prepared by BARC collaborator.
Developed miniaturized sensor device package with low power consumption (2.2W).
Successfully worked for RDX and TNT detection. Need for Teflon coating found. Coating process underway.
Sealing of the package using solder disc/solder paste for interconnections and pyrolux film for sealing was set-up and established the electrical contacts between the lid and the base.

Nanomaterials and Devices:

Experiments on synthesis of aluminium nanopowders by TAPR technique continued in view of demand expressed by HEMRL (DRDO)
Developed 100gmlevelAg-Pdpowderofabout30-50nm dimension.
Silver metal powders were prepared of desired dimensions at 200gm level using alcoholic as well as non alcoholic solvent compositions for organically capped and uncapped powders.
Process for Ag2Se and CujSe based on CdSe QDs has been completed.
Surface capped II-VI semiconductors i.e. CdSe, ZnSe, HgSe and Ag2Se have been synthesized in upto gram scale.

ii) Hyderabad Laboratory

Core Projects:

Developmental activities at C-MET, Hyderabad consists of Ultra Pure Materials and Compound Semiconductors; Refractory Metals, Alloys and Special Materials. The salient features of the progress made during the year 2009-2010 are as follows.

Area

Physical Targets

Achievements

• Ultra high purity materials

•Optimization of process parameters for hydro-chemical processing of Ga

•Optimization of vacuum distillation to achieve 6N+ purity Zn

•Zone refining of bismuth

•Ga vacuum refining system optimized for 1 kg / batch size purification.

•Analysis confirmed the reproducibility of 6N pure Zn obtained by multiple vacuum distillations.

•Quadruple zone refining experiments with a stable zone length of ~4 cm were carried out in order to achieve 6N pure Bi ingot.

• Nanomaterials and devices

• Initiation of experiment for preparation of nano tantalum powder and testing

• Experiments conducted to prepare nano Ta powder from TaCl5 using hydrogen reduction.

Grant-in-Aid projects:

During this year, the work was continued on following grant- in-aid projects

No.	Title	Funding Agency	Status	(Millions)
1.	Pre-production studies of Nb and Hf for establishment of production plant.	vssc	Completed	14.900
2.	Process technology development of ultrapure cadmium for opto-electronic applications.	SSPL	Completed	0.986
3.	Studies on the synthesis and phase transformation of FePt nanoparticles for data storage applications.	DST	Ongoing	2.440
4.	Microwave sintering of refractory metal and alloy powders and properties characterization	DST	Ongoing	1.614
5.	Establishment of testing facilities for the hazardous substances as per European Union (EU) Directive of Restricting the use of hazardous substances (RoHS)	DIT	Ongoing	52.298
6.	Design and development of controlled melting and freezing system for preparation of ultra-pure crystalline materials for opto-electronics.	DIT	Ongoing	2.910
7.	Development of cost effective low temperature composition and multilayer actuator for potential automobile /aerospace applications	NPMASS	New	5.737
8.	Development of metal nanopaticles doped carbon aerogel based hydrogen gas storage system for fuel cell and other applications	DST	New	16.505
9.	Development of supercapacitors and applications in electronic circuits	BRNS	New	2.051
10	Development of transparent conducting oxides through solution processes for thin film electronics	BRNS	New	1.996
11.	Piezoelectric based bimorph mirror	BRNS	New	2.878

The consolidated progress in respect of these grant-in-aid proj ects is summarized below:

Ultra High Purity Materials:

A laboratory furnace for synthesis and preparation of 6N+ / 7N pure crystalline grade materials was developed and gallium indium (Gain), gallium antimonide (GaSb), gallium telluride (GaTe), indium antimonide (InSb) were synthesized.

For the first time in India, C-MET has developed Indigenous technology to prepare ultra pure (7N) cadmium by reducing total metallic impurity concentration < 100 ppb. 6 kgs of 7N Cd (analyzed by NRC Canada) was supplied to SSPL, Delhi.

Solvent extraction and carbo-chlorination of hafnium were optimized. 8 kg Hf oxide prepared containing Hf > 98 % and 8.5 kg of hafnium chloride prepared.

2.5 kg Hf metal sponge was prepared. Hafnium process technology successfully demonstrated to QC team of VSSC.

ROHS Activities:

Major characterization equipment for RoHS compliance such as ICP-MS, ED-XRF, GC-MS and IC were installed and commissioned successfully.
Quality management systems consisting of Quality manual, Management system procedures and formats have been fully established.

Preliminary assessment for NABL accreditation on AAS was successfully completed.

Standard Operating Procedures (SOPs) for the analysis of Cr, Cd and Pb on AAS have been fully established and tested.

Method validation for Cr, Cd and Pb on AAS, Inter Laboratory Comparison followed by Z-score calculations, uncertainty measurements, etc have been completed.

Misceleneous Research Efforts:

A sublimation reactor to grow SiC single crystals is being procured

FePt nanoparticles with magnetic coercivity of 6.0 KOe were produced.

High temperature microwave sintering furnace commissioned and made it suitable for sintering of refractory metal powders. Microwave sintering experiments were successfully conducted for i) Tantalum powder pellet under Argon atmosphere ii) BaTi03 at 1100 °C, iii) PZT iv) TaPs, Fe203, BaC03 and their XRD, density, microstructure and magnetic properties studied.

iii) Thrissur Laboratory

Core Projects:

Developmental activities at C-MET, Thrissur consists of Microwave dielectrics, Multilayer Ceramics, Actuators and Sensors, Nanomaterials and thin films and Aerogels. The salient features of the progress made during the year 2009-2010 are as follows.

Area

Physical Targets

Achievements

•Nanomaterials and devices

• Development of n type and p type transparent conducting oxide thin films

• Prepared aluminium doped zinc oxide thin films by dip coating technique-

•Preparation of nano NTC material for thick film sensors

• Prepared nano powders of NTC thermistor compositions for Thick film thermal sensors

• Piezo sensors and Actuators

•Fine tuning of unimorph actuators

• Unimorph actuators fabricated

• Materials for Renewable Energy

• Preparation of carbon aerogel based electrodes for super capacitor applications

• Fabricated Carbon aerogel based electrodes suitable for supercapacitor applications using 3-6% PTFE and tested the performance

Grant-in-Aid projects:

During this year, the work was continued on following grant- in-aid projects.

No.	Title	Funding Agency	Status	(Millions)
1.	Development and Supply of Twin Amplified Piezo Micro Actuator	RCI	Completed	0.963
2.	Piezoelectric Thin Films For Actuator Applications	DST	Ongoing	1.999
3.	Development of ultra low loss temperature stable composite substrate for high power microwave amplifiers	BRNS	On-going	5.989
4.	Development, production and supply of Microwave substrates for high power microwave amplifiers	BRNS	On-going	15.000
5.	Synthesis of nano NTC material and development of chip in glass fast response thermal sensors	DIT	On-going	33.214
6.	Pliot plant production of 300 kg of phase pure Cristobalite for space applications	ISRO	On-going	6.100
7.	Development of cost effective low temperature composition and multilayer actuator for potential automobile /aerospace applications	NPMASS	New	5.737
8.	Development of metal nanopaticles doped carbon aerogel based hydrogen gas storage system for fuel cell and other applications	DST	New	16.505
9.	Development of supercapacitors and applications in electronic circuits	BRNS	New	2.051
10	Development of transparent conducting oxides through solution processes for thin film electronics	BRNS	New	1.996
11.	Piezoelectric based bimorph mirror	BRNS	New	2.878

The consolidated progress in respect of these grant-in-aid projects is summarized below:

Piezo Sensors and Actuators:

PZT thin films fabricated on silicon substrates by chemical solution method using spin coating technique exhibited excellent dielectric, ferroelectric and piezoelectric characteristics suitable for MEMS applications.

Successfully fabricated twin amplified micro actuator to RCI (DRDO), Hyderabad.

Successfully developed ultra low loss (tan 5 O.0018 at 10 GHz) microwave substrates with a dielectric constant of 4.3 for high power solid state amplifier fabrication

Nanomaterials and Devices:

Nanosized NTC powder was prepared through SHS method. The reliability studies of NTC thermistors indicated that out of the five compositions (B values 3250 K, 3690 K, 3850 K, 3977 K and 4252 K), four exhibited reliability within the tolerance limit of < +1.0 % whereas one showed + 1.5 % change in the resistance value, on aging at 120° C for 7 days.

Materials for Renewable Energy:

Prepared RF gels using Ni-acetate (instead of NajCOj) as the catalyst and electrodes with thickness of 100150 um. The electrical conductivities were found to be increased with increasing Ni-content.

Prepared carbon aerogel based electrodes using selected carbon aerogel composition and studied their electrical properties.

Prepared transparent thin films of copper aluminium oxide from stable precursor solution by dip coating technique.

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.44.30
UK Pound	1	Rs.72.92
Euro	1	Rs.64.69

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	6
OPERATING SCALE	1~10	6
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	6
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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		50

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.

MIRA INFORM REPORT

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