MIRA INFORM REPORT

Report Date :

03.12.2011

IDENTIFICATION DETAILS

Name :	SMARTAK FOOTCARE PRIVATE LIMITED
Registered Office :	7 / 330 - A , V.K.C Building, Kolathara P.O, Kozhikode, Kerala – 673655
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	18.07.2006
Com. Reg. No.:	019643
Capital Investment / Paid-up Capital :	Rs. 1.540 Millions
CIN No.: [Company Identification No.]	U19202KL2006PTC019643
TAN No.: [Tax Deduction & Collection Account No.]	CHNS03852C
PAN No.: [Permanent Account No.]	AAKCS0371B
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturers of Plastic Footwear
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

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

Maximum Credit Limit :	USD 236000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitment. The company can be considered normal for business dealing at usual trade terms and 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 – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
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 :	7 / 330 - A , V.K.C Building, Kolathara P.O, Kozhikode, Kerala – 673655, India
Tel. No.:	91- 495-2482112/3206091
Fax No.:	91- 495-2482412
E-Mail :	smartak@gmail.com vkcsmartak@gmail.com veekey@hotmail.com

DIRECTORS

As on 23.07.2011

Name :

Mr. Abdul Razak Veluthedath

Designation :

Managing Director

Address :

Prabha, Nallalam P.O, Kozhikode, Kerala – 673027, India

Date of Birth/Age :

30/05/1968

Date of Appointment :

22.07.2006

DIN No.:

00305833

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U25209KL1998PTC012195	Emerald Plastomers Private Limited	Director	03-04-98	03-04-98	-	Active	NO
2	U02520TZ1998PTC008691	Veekesy Plastomers India Private Limited	Director	22-12-98	22-12-98	-	Active	NO
3	U19202KL2002PTC015715	Slipons India Private Limited	Managing director	30-09-08	14-11-02	-	Active	NO
4	U19201KL2004PTC017111	Diadora Shoes Private Limited	Managing director	30-09-08	17-05-04	-	Active	NO
5	U19201KL2005PTC018011	Dimesco Footcare India Private Limited	Managing director	16-12-09	19-03-05	-	Active	NO
6	U19202KL2005PTC018521	Morbido Vinyl Private Limited	Director	10-08-05	10-08-05	-	Active	NO
7	U19202KL2006PTC019643	Smartak Footcare Private Limited	Managing director	09-09-09	22-07-06	-	Active	NO
8	U25191KL2002PTC015519	Veekesy Rubber Industries Private Limited	Director	29-09-07	29-09-07	-	Active	NO
9	U24134KL1996PTC009856	Veekesy Polymers Private Limited	Director	29-06-09	29-06-09	-	Active	NO
10	U19202TZ2006PTC012811	Veekesy Footcare (India) Private Limited	Director	03-08-09	03-08-09	-	Active	NO
11	U18104KL2002PTC015839	Sandlon Technologies Private Limited	Director	29-09-09	29-09-09	-	Active	NO
12	U19201TZ2004PTC011325	Ferrari Shoes India Private Limited	Director	29-09-09	29-09-09	-	Active	NO
13	U19202KL2009PTC024871	Fayiz Foots Private Limited	Director	14-10-09	14-10-09	-	Active	NO
14	U19202KL2009PTC024938	Essefsy Footwears Private Limited	Director	27-10-09	27-10-09	-	Active	NO
15	U19200KL2010PTC025679	Veekesy Shoes And Allied Products India Private Limited	Managing director	20-04-10	13-03-10	-	Active	NO
16	U25199KL1998PTC012185	Veekesy Elastomers Private Limited	Director	17-09-10	15-04-10	-	Active	NO
17	U19200TZ2009PTC015640	Coimbatore Footwear Stitching Works Private Limited	Director	30-09-10	20-05-10	-	Active	NO

Name :

Mr. Munooli Ummerkoya

Designation :

Director

Address :

Bhavana, Kolathara Post, Kozhikode, Kerala – 673655, India

Date of Birth/Age :

02.03.1947

Date of Appointment :

22.07.2006

DIN No.:

00306244

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U19202KL2006PTC019643	Smartak Footcare Private Limited	Director	22-07-06	22-07-06	-	Active	NO
2	U19202KL2009PTC024938	Essefsy Footwears Private Limited	Director	27-10-09	27-10-09	-	Active	NO

Name :

Mr. Mammed Koya VKC

Designation :

Director

Address :

Prabha, Nallalam P.O, Kozhikode, Kerala – 673027, India

Date of Birth/Age :

05.02.1940

Date of Appointment :

18.02.2010

DIN No.:

00309339

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U24134KL1994PTC007912	Caltech Polymers Private Limited	Director	13-05-94	13-05-94	-	Active	NO
2	U19201KL2002PTC015170	Califer Footcare (India) Private Limited	Director	06-06-08	09-01-02	10-10-08	Active	NO
3	U25191KL2002PTC015519	Veekesy Rubber Industries Private Limited	Director	05-07-02	05-07-02	-	Active	NO
4	U19201KL2005PTC018011	Dimesco Footcare India Private Limited	Director	19-03-05	19-03-05	-	Active	NO
5	U45309KL1961SGC001937	Kerala State Industrial Development Corporation Limited	Director	14-05-07	14-05-07	-	Active	NO
6	U91990KL2002NPL015838	Norka-Roots (Sec 25 Company)	Director	18-08-07	18-08-07	29-08-11	Active	NO
7	U25199KL1998PTC012185	Veekesy Elastomers Private Limited	Director	29-09-07	29-09-07	-	Active	NO
8	U45200KL2007PLC021389	Buildcon Construction Company Limited	Director	19-12-07	09-11-07	-	Active	NO
9	U91110KL1931NPL001527	The Malabar Chamber of Commerce	Director	25-09-08	25-09-08	12-11-10	Active	NO
10	U19201KL2004PTC017111	Diadora Shoes Private Limited	Director	30-09-08	30-09-08	-	Active	NO
11	U19202KL2002PTC015715	Slipons India Private Limited	Director	30-09-08	30-09-08	-	Active	NO
12	U65929KL1975SGC002736	Kerala Small Industries Development Corporation Limited	Director	20-11-08	20-11-08	18-10-11	Active	YES
13	U19201KA2008PTC048381	Veekesy Sandals (India) Private Limited	Director	21-11-08	21-11-08	-	Active	NO
14	U24134KL1996PTC009856	Veekesy Polymers Private Limited	Director	29-06-09	29-06-09	-	Active	NO
15	U19202TZ2006PTC012811	Veekesy Footcare (India) Private Limited	Director	03-08-09	03-08-09	-	Active	NO
16	U19202KL2006PTC019643	Smartak Footcare Private Limited	Director	18-08-10	09-09-09	-	Active	NO
17	U18104KL2002PTC015839	Sandlon Technologies Private Limited	Director	29-09-09	29-09-09	-	Active	NO
18	U19201TZ2004PTC011325	Ferrari Shoes India Private Limited	Director	29-09-09	29-09-09	-	Active	NO
19	U67110KL2009PLC025082	AL Barakah Financial Services Limited	Director	23-05-11	30-11-09	-	Active	NO
20	U19200KL2010PTC025679	Veekesy Shoes And Allied Products India Private Limited	Director	13-03-10	13-03-10	-	Active	NO
21	U19200KL2010PTC026340	VKC Footwear International Private Limited	Director	13-07-10	13-07-10	-	Active	NO
22	U19200KL2010PTC026934	VKC Footsteps (India) Private Limited	Director	28-10-10	28-10-10	-	Active	NO
23	U15400KL2011PTC027626	Malabar Mega Food Park Private Limited	Director	09-02-11	09-02-11	-	Active	NO
24	U19200KL2011PTC029663	VKC Foot Prints Global Private Limited	Director	25-10-11	25-10-11	-	Active	NO

Name :

Mr. Alathil Vasu Livas

Designation :

Director

Address :

Velayudhapuram, Kinassery, Pokkunnau Post, Kozhikode, Kerala – 673013, India

Date of Birth/Age :

04/03/1975

Date of Appointment :

22.07.2006

DIN No.:

00536340

Name :

Mr. Subaj Cheriyeri Parambath

Designation :

Director

Address :

Sumathy Nivas, Kannankara P.O., Chelannur (Via), Kozhikode – 673616, Kerala, India

Date of Birth/Age :

12/12/1971

Date of Appointment :

01.12.2006

DIN No.:

01054310

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U19201KL2004PTC017226	Marquis Shoes Private Limited	Director	01-07-04	01-07-04	25-07-11	Active	NO
2	U19202KL2006PTC019643	Smartak Footcare Private Limited	Director	01-12-06	01-12-06	-	Active	NO
3	U19202KL2009PTC024938	Essefsy Footwears Private Limited	Director	27-10-09	27-10-09	-	Active	NO

Name :

Mr. Veluthedath Mohammed

Designation :

Director

Address :

Jashi Mahal, Nallalam (W), Post Nallalam, Kozhikode – 673027, Kerala, India

Date of Birth/Age :

20/05/1954

Date of Appointment :

01/12/2006

DIN No.:

00306002

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U25191KL2002PTC015519	Veekesy Rubber Industries Private Limited	Director	05-07-02	05-07-02	-	Active	NO
2	U19202KL2006PTC019643	Smartak Footcare Private Limited	Director	01-12-06	01-12-06	-	Active	NO
3	U19201KL2005PTC018043	Ferrero Vinyl Technologies Private Limited	Director	29-09-07	29-09-07	-	Active	NO
4	U18104KL2002PTC015839	Sandlon Technologies Private Limited	Director	10-12-07	10-12-07	-	Active	NO
5	U19201KA2008PTC048381	Veekesy Sandals (India) Private Limited	Director	21-11-08	21-11-08	-	Active	NO
6	U24134KL1996PTC009856	Veekesy Polymers Private Limited	Director	29-06-09	29-06-09	-	Active	NO
7	U19202TZ2006PTC012811	Veekesy Footcare (India) Private Limited	Director	03-08-09	03-08-09	-	Active	NO
8	U19201TZ2004PTC011325	Ferrari Shoes India Private Limited	Director	29-09-09	29-09-09	-	Active	NO
9	U19202KL2009PTC024938	Essefsy Footwears Private Limited	Director	27-10-09	27-10-09	-	Active	NO
10	U25199KL1998PTC012185	Veekesy Elastomers Private Limited	Director	17-09-10	15-04-10	-	Active	NO
11	U19200TZ2009PTC015640	Coimbatore Footwear Stitching Works Private Limited	Director	30-09-10	20-05-10	-	Active	NO
12	U19200KL2010PTC026340	VKC Footwear International Private Limited	Director	13-07-10	13-07-10	-	Active	NO
13	U19200KL2010PTC026934	VKC Footsteps (India) Private Limited	Director	28-10-10	28-10-10	-	Active	NO
14	U19121KA2010PTC055821	Nanjangud Stitching Works Private Limited	Director	24-10-11	24-10-11	-	Active	NO
15	U19200KL2011PTC029663	VKC Foot Prints Global Private Limited	Director	25-10-11	25-10-11	-	Active	NO

Name :

Mr. Veluthedath Rafeeque

Designation :

Director

Address :

Veluthedath House, Post.Kolathara, Kozhikode – 673655, Kerala, India

Date of Birth/Age :

15/05/1977

Date of Appointment :

01/12/2006

Din No.:

00305950

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U24134KL1996PTC009856	Veekesy Polymers Private Limited	Managing director	02-05-02	02-05-02	-	Active	NO
2	U18104KL2002PTC015839	Sandlon Technologies Private Limited	Director	04-01-03	04-01-03	-	Active	NO
3	U19202KL2006PTC019643	Smartak Footcare Private Limited	Director	01-12-06	01-12-06	-	Active	NO
4	U19201KA2008PTC048381	Veekesy Sandals (India) Private Limited	Director	21-11-08	21-11-08	-	Active	NO
5	U19202TZ2006PTC012811	Veekesy Footcare (India) Private Limited	Director	03-08-09	03-08-09	-	Active	NO
6	U19201TZ2004PTC011325	Ferrari Shoes India Private Limited	Director	29-09-09	29-09-09	-	Active	NO
7	U19200TZ2009PTC015640	Coimbatore Footwear Stitching Works Private Limited	Director	30-09-10	20-05-10	-	Active	NO
8	U19200KL2010PTC026340	VKC Footwear International Private Limited	Director	13-07-10	13-07-10	-	Active	NO
9	U19200KL2010PTC026934	VKC Footsteps (India) Private Limited	Director	28-10-10	28-10-10	-	Active	NO
10	U19121KA2010PTC055821	Nanjangud Stitching Works Private Limited	Director	10-11-10	10-11-10	-	Active	NO
11	U19200KL2010PTC027072	North Kerala Footwear Consortium Private Limited	Director	13-01-11	13-01-11	-	Active	NO

Name :

Mr. Kaniyatt Ummer Farook

Designation :

Additional Director

Address :

Kaniyattu, Kakkodi Morikkara, Kozhikode, Kerala – 673611, India

Date of Birth/Age :

07.19.1968

Date of Appointment :

20.07.2010

Din No.:

00376462

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U25199KL1990PTC005797	Vimsons Rubbers Private Limited	Managing director	31-08-91	31-08-91	-	Active	NO
2	U25199KL2000PTC013687	Fortune Elastomers Private Limited	Whole-time director	23-06-09	23-06-09	-	Active	NO
3	U19202KL2009PTC024871	Fayiz Foots Private Limited	Director	14-10-09	14-10-09	-	Active	NO
4	U19202KL2006PTC019643	Smartak Footcare Private Limited	Director	18-08-10	20-07-10	-	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 23.07.2011

Names of Shareholders	No. of Shares
M. Ummer Koya	1418
V. Abdul Razak	1855
Livas A. V.	284
VKC. Mohamed Koya	1418
V. Noushad	1576
V. Khadeeja	728
V. Mohamed	728
K. M. Hameed Ali	851
K. Ummer Farook	425
V. Rafeeque	568
V. Abdul Rashid	568
K. C. Chacko	851
Mallika Venugopal	568
M. Babu	425
A V. Sunil Nath	213
A. V. Sudheer	213
V. P. Azeez	568
C. K. Mohammed Salih	420
P. Haildas	105
V. P. Musthafa	284
C. P. Subaj	851
A Santosh	273
N. Vinod Kumar	105
P. AbduI Majeed	105
TOTAL	15400

Equity Share Break up (Percentage of Total Equity)\

As on 23.07.2011

Category	Percentage
Directors or relatives of Directors	69.49
Other top fifty shareholders	30.51
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturers of Plastic Footwear

Products :

Item Code No. (ITC Code)	6402.19.90 6402.20.90
Product Description	Plastic Footwear
Item Code No. (ITC Code)	6406
Product Description	Footwear - Other

PRODUCTION STATUS

As on 31.03.2011

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Plastic Footware	Pairs	NA	2375000	2289282

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

The Federal Bank Limited, Cheruvannoor Branch, Feroke, Kozhikode – 673631, Kerala, India

Facilities :

Secured Loan	As on 31.03.2011 (Rs. in Millions)	As on 31.03.2010 (Rs. in Millions)
From Banks
Federal Bank - Cash Credit	2.924	5.069
Total	2.924	5.069

Banking Relations :	--
Auditors :
Name :	M.V. Venugopal Chartered Accountant
Address :	6/1125, Cherooty Road, Calicut, Kerala – 673032, India
PAN.:	ABOPV6220G

CAPITAL STRUCTURE

As on 31.03.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
20000	Equity Shares	Rs.100/- Each	Rs.2.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
15400	Equity Shares	Rs.100/- Each	Rs.1.540 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		1.540	1.540	1.540
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		57.512	39.996	16.933
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		59.052	41.536	18.473
LOAN FUNDS
1] Secured Loans		2.924	5.069	3.458
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		2.924	5.069	3.458
DEFERRED TAX LIABILITIES		1.327	1.400	0.651
TOTAL		63.303	48.005	22.582
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		38.488	26.446	12.410
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	32.882	29.847	21.279
	Sundry Debtors	9.659	4.268	3.816
	Cash & Bank Balances	0.451	0.204	0.091
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	7.483	10.054	4.447
Total Current Assets		50.475	44.373	29.633
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	18.117	16.075	11.853
	Other Current Liabilities	0.000	0.000	0.000
	Provisions	7.543	6.739	7.608
Total Current Liabilities		25.660	22.814	19.461
Net Current Assets		24.815	21.559	10.172
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		63.303	48.005	22.582

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Sales	295.516	230.578	140.336
		Other Income	1.176	1.016	1.259
		TOTAL (A)	296.692	231.594	141.595
Less	EXPENSES
		Material Consumed	191.074	145.157	90.847
		Manufacturing Expenses	27.485	17.745	11.840
		Salaries and Other Employment Benefit	3.801	2.005	1.201
		Administration and other Expenses	3.951	2.889	1.949
		Selling and Distribution Expenses	28.051	19.761	13.399
		Director Salary	1.238	0.953	0.630
				188.51	119.866
		Increase/ Decrease in Stock	2.067	(4.287)	(9.138)
		TOTAL (B)	257.767	184.223	110.728
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		38.925	47.371	30.867
Less	FINANCIAL EXPENSES (D)		0.425	0.262	0.494
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		38.500	47.109	30.373
Less/ Add	DEPRECIATION/ AMORTISATION (F)		5.362	3.656	2.356
	PROFIT BEFORE TAX (E-F) (G)		33.138	43.453	28.017
Less	TAX (H)		11.147	15.001	9.948
	PROFIT AFTER TAX (G-H) (I)		21.991	28.452	18.069
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		34.844	14.626	3.769
Less	APPROPRIATIONS
		Transfer to General Reserve	2.199	2.845	1.807
		Interim Dividend	0.000	0.385	1.540
		Dividend Tax	0.000	0.065	0.262
		Proposed Dividend	3.850	4.235	3.080
		Tax on Dividend	0.625	0.704	0.523
	BALANCE CARRIED TO THE B/S		50.161	34.844	14.626
	IMPORTS
		Raw Materials	0.000	0.000	NA
		Capital Goods	3.206	10.635	NA
	TOTAL IMPORTS		3.206	10.635	NA
	Earnings Per Share (Rs.)		1427.97	1847.55	1173.28

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	7.41	12.29	12.76
Net Profit Margin (PBT/Sales)	(%)	11.21	18.85	19.96
Return on Total Assets (PBT/Total Assets}	(%)	37.25	64.18	66.64
Return on Investment (ROI) (PBT/Networth)		0.56	1.09	1.52
Debt Equity Ratio (Total Liability/Networth)		0.48	0.67	1.24
Current Ratio (Current Asset/Current Liability)		1.92	1.92	1.52

LOCAL AGENCY FURTHER INFORMATION

CONTINGENT LIABILITIES

In respect of interstate sales C forms with respect of certain parties have not been received. There is a contingent liability of Rs. 0.265 Million in case the parties do not produce c forms

FORM 8

Corporate identity number of the company	U19202KL2006PTC019643
Name of the company	SMARTAK FOOTCARE PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	7 / 330 - A , V.K.C Building, Kolathara P.O, Kozhikode, Kerala – 673655, India Email : vkcsmartak@gmail.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10025194
Type of charge	Immovable Property Book Debts Movable Property (not being pledge)
Particular of charge holder	The Federal Bank Limited, Cheruvannoor Branch, Feroke, Kozhikode – 673631, Kerala, India
Nature of instrument creating charge	Agreement of Cash Credit/Overdraft/Demand Loan
Date of instrument Creating the charge	29.09.2010
Amount secured by the charge	Rs. 6.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest: 11.50% p.a Terms of repayment : For a period of 30 month Margin: NA Extent and operation of charge: The above charge operates as a security for repayment of principal and interest
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Stock of Raw Materials,Goods in process and finished foot wears Books debts and other receivables
Date of instrument modifying the charge	17.05.2010
Particulars of the present modification	By virtue of the above modification, the Adhoc Limit of Rs 3.500 Millions was closed and consequently the credit limit was reduced from Rs 9.500 millions to Rs 6.000 millions

FIXED ASSETS:

• Building
• Computer
• Electrical Fittings
• Cutting and Embossing Dies
• Mould
• Office Furniture
• Office Equipments
• Plant and Machinery
• Tools and Stores
• Working Table, Trauly, Rack
• Other Equipments

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.51.35
UK Pound	1	Rs.80.51
Euro	1	Rs.69.14

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	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.