1. Summary Information

		Country	India
Company Name	KUNSTOCOM (INDIA) LIMITED	Principal Name 1	Mr. Anand Chauhan
Status	Moderate	Principal Name 2	Mr. Ajay Chauhan
		Registration #	55-009596
Street Address	E-27, Defence Colony, Ring Road, AKC House, New Delhi-110024, India
Established Date	02.05.1979	SIC Code	--
Telephone#	91-11-24339700 / 41888000	Business Style 1	Manufacturer
Fax #	91-11-24339300 / 24339200 / 24339100	Business Style 2	--
Homepage	http://www.kunstocom.com	Product Name 1	Plastic Moulds
# of employees	Not Available	Product Name 2	Plastic Components
Paid up capital	Rs.34,074,500/-	Product Name 3	--
Shareholders	Directors or relatives of directors - 59.63% Body Corporates – 40.37%	Banking	Bank of Baroda
Public Limited Corp.	NO	Business Period	32 Years
IPO	NO	International Ins.	-
Public Enterprise	NO	Rating	B (34)
Related Company
Relation	Country	Company Name	CEO
-	-	-	-
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2010		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	157,407,000	Current Liabilities	186,979,000
Inventories	54,440,000	Long-term Liabilities	112,975,000
Fixed Assets	126,607,000	Other Liabilities	13,706,000
Deferred Assets	0,000	Total Liabilities	313,660,000
Invest& other Assets	22,750,000	Retained Earnings	13,470,000
		Net Worth	47,544,000
Total Assets	361,204,000	Total Liab. & Equity	361,204,000
Total Assets (Previous Year)	269,580,000
P/L Statement as of	31.03.2010		(Unit: Indian Rs.)
Sales	831,117,000	Net Profit	11,102,000
Sales(Previous yr)	557,469,000	Net Profit(Prev.yr)	2,318,000

MIRA INFORM REPORT

Report Date :

29.12.2011

IDENTIFICATION DETAILS

Name :	KUNSTOCOM (INDIA) LIMITED [w.e.f. 21.10.1997]
Formerly Known As :	KUNSTOCOM ELECTRONICS (INDIA) PRIVATE LIMITED
Registered Office :	E-27, Defence Colony, Ring Road, AKC House, New Delhi-110024
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	02.05.1979
Com. Reg. No.:	55-009596
Capital Investment / Paid-up Capital :	Rs.34.074 Millions
CIN No.: [Company Identification No.]	U64201DL1979PLC009596
TAN No.: [Tax Deduction & Collection Account No.]	DELK06494F
PAN No.: [Permanent Account No.]	AAACK0356L
Legal Form :	A Closely Held Public Limited Liability Company.
Line of Business :	Manufacturer of Plastic Moulds and Plastic Components.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

B (34)

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

Maximum Credit Limit :	USD 190000
Status :	Moderate
Payment Behaviour :	Slow but Correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. financial position of the company is improving. Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for small business dealings 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/ Head Office :	E-27, Defence Colony, Ring Road, AKC House, New Delhi-110024, India
Tel. No.:	91-11-24339700 / 24331960 / 51553000 / 41888000
Fax No.:	91-11-4623317 / 4625956 / 24339300 / 24339200 / 24339100
E-Mail :	leela@akcgroup.com info@kunstocom.com abhinavchauhan@kunstocom.com kunstocom@akcgroup.com
Website :	http://www.kunstocom.com http://www.akcgroup.com
Factory Unit 1 / Corporate Office :	C-47, Phase-2, Gautam Budh Nagar, Noida-201305, Uttar Pradesh, India
Tel. No.:	91-120-4763800
Fax No.:	91-120-4272813
Factory Unit 2 :	E – 134, E.P.I.P. Neemrana Industrial Area, Alwar, Rajasthan, India
Factory 3 :	B-129, Sector -2, Noida-201301, Uttar Pradesh, India
Tel. No.:	91-120-2521992/ 2554233/ 2524731
Fax No.:	91-120-2553790/ 2542487
E-Mail :	info@kunstocom.com

DIRECTORS

As on 29.09.2009

Name :

Mr. Anand Chauhan

Designation :

Managing Director

Address :

E-27, Defence Colony, Ring Road, AKC House, New Delhi-110024, India

Date of Birth/Age :

04.01.1949

Date of Appointment :

02.05.1979

DIN :

00241095

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	U36939UP1976PTC004279	KUNSTOPLAST (INDIA) PRIVATE LIMITED	Director	14/05/1976	14/05/1976	-	Active	NO
2	U74899DL1979PTC009567	TEGRO (INDIA) PRIVATE LIMITED	Director	24/04/1979	24/04/1979	-	Active	NO
3	U64201DL1979PLC009596	KUNSTOCOM (INDIA) LIMITED	Managing director	2/5/1979	2/5/1979	-	Active	NO
4	U32101DL1986PLC024197	TECHNICOM CHEMIE (INDIA) LIMITED	Director	13/05/1986	13/05/1986	-	Active	NO
5	U74899DL1986PTC025761	AMITY TV NETWORK PRIVATE LIMITED	Director	17/10/1986	17/10/1986	-	Active	NO
6	U74899DL1986PTC026022	STRATEGA FINANCE COMPANY PRIVATE LIMITED	Director	7/11/1986	7/11/1986	-	Active	NO
7	U24119DL1988PLC031899	CHABRO PETROCHEMICALS LIMITED	Director	31/05/1988	31/05/1988	-	Active	NO
8	U74899DL1988PTC033847	PHARMAPLAN INDIA PRIVATE LIMITED	Director	10/11/1988	10/11/1988	-	Active	NO
9	U74899DL1988PTC033883	AKC DATA SYSTEMS (INDIA) PRIVATE LIMITED	Director	15/11/1988	15/11/1988	-	Active	NO
10	U74899DL1995PTC070806	FIRST GRADE FORCE PRIVATE LIMITED	Director	14/07/1995	14/07/1995	-	Active	NO
11	U74140DL1998PLC097728	CRYSTAL AND DRISCOL CONSULTING LIMITED	Director	31/12/1998	31/12/1998	-	Active	NO
12	U23209DL2008PLC184638	CINCORP INTERNATIONAL LIMITED	Director	4/11/2008	4/11/2008	5/4/2010	Active	NO

Name :

Mr. Ajay Chauhan

Designation :

Director

Address :

E-27, Defence Colony, Ring Road, AKC House, New Delhi-110024, India

Date of Birth/Age :

01.01.1956

Date of Appointment :

02.05.1979

DIN :

00241011

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U36939UP1976PTC004279	KUNSTOPLAST (INDIA) PRIVATE LIMITED	Director	14/05/1976	14/05/1976	Active	NO
2	U74899DL1979PTC009567	TEGRO (INDIA) PRIVATE LIMITED	Director	24/04/1979	24/04/1979	Active	NO
3	U64201DL1979PLC009596	KUNSTOCOM (INDIA) LIMITED	Director	2/5/1979	2/5/1979	Active	NO
4	U32101DL1986PLC024197	TECHNICOM CHEMIE (INDIA) LIMITED	Managing director	13/05/1986	13/05/1986	Active	NO
5	U74899DL1986PTC025761	AMITY TV NETWORK PRIVATE LIMITED	Director	17/10/1986	17/10/1986	Active	NO
6	U74899DL1986PTC026022	STRATEGA FINANCE COMPANY PRIVATE LIMITED	Director	7/11/1986	7/11/1986	Active	NO
7	U24119DL1988PLC031899	CHABRO PETROCHEMICALS LIMITED	Director	31/05/1988	31/05/1988	Active	NO
8	U74899DL1988PTC033847	PHARMAPLAN INDIA PRIVATE LIMITED	Director	10/11/1988	10/11/1988	Active	NO
9	U74899DL1988PTC033883	AKC DATA SYSTEMS (INDIA) PRIVATE LIMITED	Director	15/11/1988	15/11/1988	Active	NO
10	U74899DL1995PTC070806	FIRST GRADE FORCE PRIVATE LIMITED	Director	14/07/1995	14/07/1995	Active	NO
11	U93090DL1996PTC080752	CROSS BORDER PLACEMENTS PRIVATE LIMITED	Director	30/07/1996	30/07/1996	Active	NO
12	U74140DL1998PLC097728	CRYSTAL AND DRISCOL CONSULTING LIMITED	Director	31/12/1998	31/12/1998	Active	NO
13	U85100DL2007PLC167560	KRAUTER BABYCARE LIMITED	Director	31/08/2007	31/08/2007	Active	NO
14	U34300DL2008PTC184407	MANZ INDIA PRIVATE LIMITED	Director	21/10/2008	21/10/2008	Active	NO

Name :

Mr. Dharmendra Kumar Jain

Designation :

Director

Address :

11-208, Kirti Apartment, Mayur Vihar- I Extension, Delhi-110091, India

Date of Birth/Age :

20.11.1947

Date of Appointment :

25.09.1997

DIN :

00376556

Name :

Mr. Abhinav Chauhan

Designation :

Director

Address :

E-27, Defence Colony, Ring Road, AKC House, New Delhi-110024, India

Date of Birth/Age :

09.02.1978

Date of Appointment :

01.07.2006

DIN :

00352845

Other Directorship:

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U36939UP1976PTC004279	KUNSTOPLAST (INDIA) PRIVATE LIMITED	Director	1/7/2006	1/7/2006	Active	NO
2	U64201DL1979PLC009596	KUNSTOCOM (INDIA) LIMITED	Director	1/7/2006	1/7/2006	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2009

Names of Shareholders	No. of Shares
Anand Chauhan	420250
Ajay Chauhan	475000
Mridula Chauhan	850
Madhulika Chauhan	600
Arun Chauhan	247550
Amita Chauhan	275000
Amita Chauhan	115000
Aseem Chauhan	250000
Technicom Cheme (India) Limited, New Delhi, India	1471700
Abhinav Chauhan	374500
Dharmendra Kumar Jain	15000
Total	3645450

Equity Share Breakup (Percentage of Total Equity)

As on 30.09.2009

Category	Percentage of Holding
Directors or relatives of directors	59.63
Bodies Corporate	40.37
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of Plastic Moulds and Plastic Components.

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

Bank of Baroda, SME Branch, Noida-201301, Uttar Pradesh, India

Facilities :

Secured Loans	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
Deferred Sales Tax Loan	1.905	5.586
Term Loan From Bank of Baroda (Secured by way of first charge on factory land and building situated at C-15, Sector II, Noida and C-47, Phase-II, Noida. Plant and Machinery financed by Bank and personal guarantee of Directors Mr. Anand Chauhan and Mr. Ajay Chauhan	69.021	38.509
Cash Credit Facilities form Bank of Baroda (Secured by way of first charge on book debts and stocks)	41.241	38.843
HDFC Auto Loan (Secured against car)	0.052	0.331
Total	112.220	83.269
Unsecured Loans	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
From Directors or relatives of directors	0.755	0.755
Total	0.755	0.755

Banking Relations :	--
Financial Institute:	The Pradeshiya Industrial and Investment Corporation of U.P Limited , PICUP Bhawan, Gomati Nagar, Lucknow (PICUP)
Auditors :
Name :	Alok Mittal and Associates Chartered Accountant
Address :	X-13, Hauz Khas, New Delhi-110016, India
Tel. No.:	91-11-26568536/ 26968470
Fax No.:	91-11-41655810
E-Mail :	alok_mittal@vsnl.com
PAN :	AAJPM0206F

CAPITAL STRUCTURE

As on 30.09.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
4,000,000	Equity Shares	Rs. 10/- each	Rs. 40.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3,645,450	Equity Shares	Rs. 10/- each	Rs.36.454 Millions

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
4,000,000	Equity Shares	Rs. 10/- each	Rs. 40.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
3,407,450	Equity Shares	Rs. 10/- each	Rs.34.075 Millions

(Out of which 1471700 shares are issued for consideration other than cash)

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		34.074	34.074	34.075
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		13.470	2.428	0.133
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		47.544	36.502	34.208
LOAN FUNDS
1] Secured Loans		112.220	83.269	103.488
2] Unsecured Loans		0.755	0.755	0.755
TOTAL BORROWING		112.975	84.024	104.243
DEFERRED TAX LIABILITIES		8.331	6.386	5.693
TOTAL		168.850	126.912	144.144
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		126.607	106.249	113.668
Capital work-in-progress		22.749	10.410	4.853
INVESTMENT		0.001	0.001	0.001
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	54.440	37.192	42.543
	Sundry Debtors	114.240	80.638	75.740
	Cash & Bank Balances	4.473	4.444	5.610
	Other Current Assets	0.779	5.293	1.920
	Loans & Advances	37.915	25.353	28.388
Total Current Assets		211.847	152.920	154.201
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	122.529	74.551	63.319
	Other Current Liabilities	64.450	61.601	59.458
	Provisions	5.375	6.516	5.802
Total Current Liabilities		192.354	142.668	128.579
Net Current Assets		19.493	10.252	25.622
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		168.850	126.912	144.144

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	831.117	557.469	445.070
		Job Works	1.202	0.856	0.812
		Other Income	11.068	2.868	4.371
		TOTAL (A)	843.387	561.193	450.253
Less	EXPENSES
		Excise Duty Paid	64.086	59.841	58.874
		Increase/ Decrease in Stock	[1.323]	2.643	2.668
		Raw Material Consumed	598.749	367.583	266.682
		Production overheads	91.555	65.536	64.470
		Administrative Overheads	47.330	37.224	28.078
		Loss on Sale of Fixed Assets	0.000	0.047	0.618
		TOTAL (B)	800.397	532.874	421.390
	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		42.990	28.319	28.863
Less	FINANCIAL EXPENSES (D)		8.578	9.707	12.336
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		34.412	18.612	16.527
Less/ Add	DEPRECIATION/ AMORTISATION (F)		12.066	12.041	11.833
	PROFIT BEFORE TAX (E-F) (G)		22.346	6.571	4.694
Less	TAX (H)		11.244	4.253	1.875
	PROFIT AFTER TAX (G-H) (I)		11.102	2.318	2.819
	Previous Year Adjustments – Tax and Others		0.060	0.023	0.018
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		1.868	[0.427]	[3.228]
	BALANCE CARRIED TO THE B/S		12.910	1.868	[0.427]
	EARNINGS IN FOREIGN CURRENCY		20.214	31.466	47.962
	IMPORTS		22.194	4.640	15.456
	Earnings Per Share (Rs.)		3.39	0.70	0.86

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	1.32	0.41	0.63
Net Profit Margin (PBT/Sales)	(%)	2.69	1.18	1.05
Return on Total Assets (PBT/Total Assets}	(%)	6.60	2.54	1.75
Return on Investment (ROI) (PBT/Networth)		0.47	0.18	0.14
Debt Equity Ratio (Total Liability/Networth)		6.42	6.21	6.81
Current Ratio (Current Asset/Current Liability)		1.10	1.07	1.20

LOCAL AGENCY FURTHER INFORMATION

Expansion : the company has decided to set up an injection moulding unit at Neemrana Rajasthan considering the increased demand from its customers. The land for the project has already been procured and construction work is in full swing. The commercial production for the project is expected to commence from October, 2010.

Bankers Charges Report as per Registry

Corporate identity number of the company	U64201DL1979PLC009596
Name of the company	KUNSTOCOM (INDIA) LIMITED
Address of the registered office or of the principal place of business in India of the company	E-27, Defence Colony, Ring Road, AKC House, New Delhi-110024, India
This form is for	Modification of Charge
Charge identification (ID) number of the charge to be modified	10217668
Type of charge	Immovable Property
Particular of charge holder	Bank of Baroda, SME Branch, Noida-201301, Uttar Pradesh, India Email : akandco@hotmail.com
Nature of instrument creating charge	Memorandum of Entry (2 nos.) dates 09.09.2011
Date of instrument Creating the charge	09.09.2011
Amount secured by the charge	Rs.218.300 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Extent and Operation of the charge 100% Others - To secure all amounts payable under various credit facilities aggregating Rs. 218.300 millions granted to the Company together with all interests, costs, charges, expenses etc.

Corporate identity number of the company	U64201DL1979PLC009596
Name of the company	KUNSTOCOM (INDIA) LIMITED
Address of the registered office or of the principal place of business in India of the company	E-27, Defence Colony, Ring Road, DAKC House, New Delhi-110024, India
This form is for	Creation of Charge
Type of charge	Immovable Property Book Debts Movable Property Floating Charge
Particular of charge holder	Bank of Baroda, SME Branch, Noida-201301, Uttar Pradesh, India
Nature of instrument creating charge	Composite Hypothecation Agreement and Memorandum of Entry (3 nos.)
Date of instrument Creating the charge	16.04.2010
Amount secured by the charge	Rs. 184.983 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Extent and Operation of the charge 100% Others The above is to secure various credit facilities amounting to Rs. 184.983 Millions together with interest, costs, expenses and other charges, commission etc.

Name of the company	KUNSTOCOM (INDIA) LIMITED
Presented By	Mr. Anand Chauhan, Managing Director
1) Date and description of instrument creating the change	Equitable Mortgage extended on July 05, 2005 in the office of Ban of Baroda, Clock Tower, Ghaziabad as an agent of RICUP towards security of PICUP/U.P Government’s Loan to the extent of Rs. 2.602 Millions
2) Amount secured by the charge/amount owing on the securities of charge	Under Interest Free Loan in Lieu of Trade Tax Deferment Scheme of Government of U.P Rs. 2.602 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	Second charge on immovable properties of the company situated at Land and Building situated at Plot No. C-15, B-87, B-129 and B-130, Sector-2 Noida 201301 India including land together with Building and structures thereon, fixed plant and machinery, fixtures, constructed, erected or installed thereon.
4) Gist of the terms and conditions and extent and operation of the charge.	The second charge operates of security inter alia for due repayment by the company to PICUP of its loan under trade tax deferment loan scheme advanced / to be advanced. The Second charge is subject to prior charge as below: i. The first charge by deposit of title deeds in favour of Bank of Baroda, Clock Tower Ghaziabad. ii. For realization of the security under its charge, PICUP shall have power to take action under SFCs, Act and U.P. Public Money (Recovery of Dues) Act 1972. iii. During the period of loan, it shall be interest free however in event of default of loan shall be recoverable with interest @ 24% per annum form the date of default till the date of recovery. iv. The loan shall be repayable as per agreement executed / to be executed. v. Other terms and conditions contained in the loan agreement executed/ to be executed shall be applicable.
5) Name and Address and description of the person entitled to the charge.	The Pradeshiya Industrial and Investment Corporation of U.P Limited , PICUP Bhawan, Gomati Nagar, Lucknow (PICUP)
6) Date and brief description of instrument modifying the charge	N.A
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.	N.A

Fixed Assets:

· Land

· Building

· Plant and Machinery

· Electrical Fittings

· Furniture and Fixtures

· Computers

· Vehicles

· Tools and Equipments

· Office Equipments

· Mobile Set

· Software

AS PER WEBSITE

Profile:

Started in 1979, Kunstocom has been a remarkable journey of setting new milestones in design and development of products from concept to completion stage. Its paramount concern has always been to provide result oriented answers to customer's specific needs.

Today, they are one of the leading company in the world offering one-stop-solution for Design, Mold manufacturing and Molding of plastic components, with an impressive clientele present across the globe. They have in-house expertise to give shape to any idea, to make Molds upto 10 tons and injection molding facilities to mold components as small as 1 gram and as big as 5000 grams.

They are better recognized as a team of experts who care for quality, service and on time delivery to the renowned OEM's in Europe, America, India and Asia Pacific region.

Tie-Up With Inagaki Plastic Moulds-Japan

They have signed a Technical Tie-up agreement on 25th May2011 with a leading Japanese Tool Room i.e. Inagaki Plastic Moulds-Japan. The company is in to this business since last 60 years and catering to Japanese Auto OEM’s like Nissan, Suzuki, Yamaha and Panasonic etc. As per the agreement, a Japanese technical team will sit in Kunstocom.

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.53.21
UK Pound	1	Rs.83.32
Euro	1	Rs.69.51

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	4
--PROFITABILIRY	1~10	3
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	4
--RESERVES	1~10	3
--CREDIT LINES	1~10	3
--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	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		34

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.