MIRA INFORM REPORT

Report Date :

14.06.2011

IDENTIFICATION DETAILS

Name :	SHRI NIWAS ACHARYA EDUCATION SOCIETY
Registered Office :	E-10, Adinath Vihar Extension, Mandsaur – 458 001, Madhya Pradesh
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	26.04.2008
Com. Reg. No.:	07/35/01/07466/08
Capital Investment / Paid-up Capital :	Rs.2.520 millions
PAN No.: [Permanent Account No.]	AAGAS0731H
Legal Form :	Registered Society
Line of Business :	Run School Named “Lotus Valley School.”
No. of Employees :	32 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Ba

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

Status :	Satisfactory
Payment Behaviour :	No Complaints
Litigation :	Clear
Comments :	Subject is a 3 years old society in its field. Trade relations are reported as fair. The valuation report and networth statement provided seems to be satisfactory. No complaints have been heard from indirect or market sources. It would be advisable to take adequate securities while dealing with the subject.

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

INFORMATION PARTED BY

Name :	Mr. Vipin Kumar Gaur
Designation :	Branch Manager
Contact No.:	91-9425978567
Date :	09.06.2011

LOCATIONS

Registered Office/ Lotus Valley School :	E-10, Adinath Vihar Extension, Mandsaur – 458 001, Madhya Pradesh, India
Tel. No.:	91-7422-409100
Mobile No.:	91-9425978567 (Mr. Vipin Kumar Gaur)
E-Mail :	lotusvalleyschool@rediffmail.com
Area :	2325 sq ft

MANAGEMENT

Name :	Mr. Vikas Shriniwas Acharya
Designation :	Member
Address :	27/3, Ramtekdi, Mandsaur, Madhya Pradesh, India
Date of Birth/Age :	14.12.1970
Qualification :	B.Com
Experience :	15 Years
PAN No.:	ABDPA8755E
Name :	Mrs. Rekha Jagdishchandra Acharya
Designation :	Member
Address :	314, Badwani Plaza, Old Plalasia, Indore, Madhya Pradesh, India
Date of Birth/Age :	23.06.1958
Qualification :	M.A.
Experience :	10 Years
PAN No.:	AIYPA9895P
Name :	Mr. Amit Vimal Jain
Designation :	Member
Address :	202, Maghdoot Nagar, Mandsaur, Madhya Pradesh, India
Date of Birth/Age :	29 Years
Qualification :	B.Com
Experience :	5 Years
PAN No.:	AFAP55950P
Name :	Mr. Sachin Joshi
Designation :	Member
Address :	8/3, Ramtekri, Mandsaur, Madhya Pradesh, India
Date of Birth/Age :	32 Years
Qualification :	M.A.
Experience :	8 Years
Name :	Mr. Manoj Mandovara
Designation :	Member
Address :	Near Noti Doodh Bhandar, Janakpura, Mandsaur, Madhya Pradesh, India
Date of Birth/Age :	40 Years
Qualification :	M.Com, LL.B.
Experience :	12 Years
Name :	Mr. Sanjay Jain
Designation :	Member
Address :	Yash Nagar, Phase-IV, Mandsaur, Madhya Pradesh, India
Date of Birth/Age :	38 Years
Qualification :	B.Sc.
Experience :	9 Years
Name :	Mr. Vinod Bagga
Designation :	Member
Address :	Kandoia Gali, Kila Road, Mandsaur City, Madhya Pradesh, India
Date of Birth/Age :	41 Years
Qualification :	B.Com
Experience :	11 Years
Name :	Mr. Vinod Porwal
Designation :	Member
Address :	D-4, Ankur Apartment, Ramtekri Corner, Mandsaur, Madhya Pradesh, India
Date of Birth/Age :	41 Years
Qualification :	B.A.
Experience :	7 Years

KEY EXECUTIVES

Name :	Mr. Vipin Kumar Gaur
Designation :	Branch Manager

BUSINESS DETAILS

Line of Business :	Run School Named “Lotus Valley School.”
Terms :
Selling :	Cash

GENERAL INFORMATION

Suppliers :

v Shradha Furniture

v S.N. Financial Services

v Kumawat Bags

v Ramayan Studio

Customers :

Education Society

No. of Employees :

32 (Approximately)

Bankers :

Corporation Bank, 180/4, Mahu Neemuch Road, Nai Abadi, Mandsaur, Madhya Pradesh, India

Facilities :

Unsecured Loans	31.03.2011 Rs. In Millions	31.03.2010 Rs. In Millions
Rajeev Acharya	0.300	0.000
Narmada Davi Acharya	0.003	0.003
Sachin Joshi	0.002	0.002
Total	0.305	0.005

Banking Relations :	--
Auditors :	(As on 31.03.2010)
Name :	Anil Omprakash Gupta and Company Chartered Accountants
Address :	426, 3^rd Floor, Vikram Tower, Sapna Sangeeta Road, Indore – 452 001, Madhya Pradesh, India
Tel. No.:	91-731-2405891
Mobile No.:	91-9826015980
E-Mail :	ca_anilkgupta@rediffmail.com

CAPITAL STRUCTURE

As on 31.03.2011

Capital Investment: Rs.2.520 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		2.520	0.000	0.000
2] Share Application Money		0.000	0.756	0.152
3] General Fund		0.000	0.000	0.000
4] Reserves & Surplus		0.000	0.000	0.000
5] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		2.520	0.756	0.152
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.305	0.005	0.030
TOTAL BORROWING		0.305	0.005	0.030
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		2.825	0.761	0.182
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.469	0.340	0.181
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	0.000	0.000	0.000
	Sundry Debtors	0.543	0.240	0.000
	Cash & Bank Balances	1.467	0.130	0.114
	Other Current Assets	0.065	0.000	0.000
	Loans, Advances & Deposits	0.470	0.151	0.029
Total Current Assets		2.545	0.521	0.143
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	0.022	0.018	0.083
	Other Current Liabilities	0.114	0.080	0.058
	Provisions	0.053	0.002	0.001
Total Current Liabilities		0.189	0.100	0.142
Net Current Assets		2.356	0.421	0.001
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		2.825	0.761	0.182

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Application From and Prospectus	0.026	0.030	0.003
		Fees	3.641	2.502	1.082
		Membership Fee	0.003	0.008	0.020
		Bus Fee	0.465	0.412	0.322
		TOTAL	4.135	2.952	1.427
Less	EXPENSES
		Advertisement	0.036	0.019	0.023
		Books and Periodicals	0.024	0.023	0.020
		Building Maintenance	0.049	0.030	0.018
		Building Rent	0.030	0.030	0.030
		Bus Charges	0.441	0.392	0.322
		Miscellaneous Expenses	0.030	0.018	0.008
		Photocopy	0.034	0.012	0.009
		School Bags	0.039	0.033	0.000
		Printing Expenses	0.088	0.063	0.025
		Salary	1.224	1.350	0.626
		School Function Expenses	0.092	0.068	0.051
		Other Expenses	0.219	0.267	0.113
		TOTAL	2.306	2.305	1.245
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		1.829	0.647	0.182
Less/ Add	DEPRECIATION/ AMORTISATION		0.065	0.043	0.030
	EXCESS OF INCOME OVER EXPENDITURE		1.764	0.604	0.152

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	42.66	20.46	10.65
Net Profit Margin (PBT/Sales)	(%)	42.66	20.46	10.65
Return on Total Assets (PBT/Total Assets}	(%)	58.53	70.15	46.91
Return on Investment (ROI) (PBT/Networth)		0.70	0.80	1.00
Debt Equity Ratio (Total Liability/Networth)		0.20	0.14	1.13
Current Ratio (Current Asset/Current Liability)		13.47	5.21	1.01

LOCAL AGENCY FURTHER INFORMATION

STATEMENT SHOWING ASSETS AND LIABILITIES (NET WORTH STATEMENTS)

NAME OF THE CO-APPLICANT: MRS. REKHA ACHARYA

NAME OF THE GUARANTOR: MRS. USHA ACHARYA

Immovable Proprieties:
	Co-Applicant	Guarantor
Address of the Property with Survey No./ Door No. etc.	Survey No.807, 808, Gram Bugaliya MDS ½ Share	E-10, Adinath Vihar Extension, Mandsaur
Description: Land/ Site/ Building	Land	Building
Whether Freehold/ Leasehold	Freehold	Freehold
Type of property: Commercial/ residential/ agricultural	Agricultural Semi	Residential
Area/ Extent of land	4.5 Bhega	2325 sq ft
Mortgaged for availing loan if any, details thereof	- No -	- No -
Present market/ Assessed value	Rs.8.000 millions	Rs.7.500 millions

Deposit held with Banks/ Companies/ Other Lender, etc.:
	Co-Applicant	Guarantor
Name of the Bank/ Company where deposits are held	Corporation Bank	State Bank of India
Date of Deposits	--	--
Nature of Deposits	Savings	Savings
Present value of deposits	Rs.0.020 million	Rs.0.050 million

Shares/ Debentures/ Mutual Funds/ Units etc.:
	Co-Applicant	Guarantor
Description	Equity Shares	--
Date of purchase	Various Dates	--
Face Value	--	--
Present Value	Rs.0.250 millions	--

Other Assets:
	Co-Applicant	Guarantor
Furniture and Fixtures	Rs.0.025 million	Nil
Cash in Hand	Rs.0.025 million	Rs.0.150 million
Jewellery	Rs.0.350 million	Rs.0.350 million
Total value of Other Assets	Rs.0.400 million	Rs.0.500 million

Total Assets

Rs.8.670 millions

Rs.8.050 millions

LIABILITIES:
	Co-Applicant	Guarantor
Name of the Bank/ Institution	--	ICICI Bank Home Loan
Nature / Type of Loan	--	Home Loan
Date of Loan	--	July, 2006
Amount of Loan availed	--	Rs.1.000 million
Security offered if any	--	EMG of E10, Adinath Vihar Extension, Mandsaur
Amount outstanding	--	Rs.0.800 million

Total Liabilities

NIL

Rs.0.800 million

Net Worth (Assets – Liabilities)

Rs.8.670

Rs.7.250 millions

__________________________________________________________________________________________

STATEMENT SHOWING ASSETS AND LIABILITIES (NET WORTH STATEMENTS)

NAME OF THE APPLICANT: MR. VIKAS ACHARYA

NAME OF THE CO-APPLICANT: MR. AMIT JAIN

NAME OF THE GUARANTOR: MRS. VIBHA ACHARYA

Immovable Proprieties:
	Applicant	Co-Applicant	Guarantor
Address of the Property with Survey No./ Door No. etc.	1. B-1, Aditya Vihar, Mandsaur Colony, 2. 77, Schme No.97, Indore	109, LIG Meghdoot Nagar, Mandsaur	1. Survey No.817, Gram Bagolia MDS 2. Servey No.807, 808, Gram Bagodia MDS. (½ Share)
Description: Land/ Site/ Building	Plot’s	Plot	1. Agriculture Deed 2. Partial Agricultural Commercial Land
Whether Freehold/ Leasehold	1. Freehold 2. Leasehold	1. Leasehold	Freehold
Type of property: Commercial/ residential/ agricultural	1. Commercial 2. Commercial	1. Residential	1. Agricultural 2. Partial Agricultural cum commercial
Area/ Extent of land	1. 1440 sq ft 2. 2000 sq ft	840 sq ft	1) 6.45 Bhiga 2) 4.50 Bhiga
Mortgaged for availing loan if any, details thereof	- No -	- No -	- No -
Present market/ Assessed value	1. Rs.3.600 millions 2. Rs.6.000 millions	Rs.2.600 millions	1. Rs.16.100 millions 2. Rs.8.000 millions Rs.24.100 millions

Investment in Business Capital:
	Applicant	Co-Applicant	Guarantor
Name of the Company/ firm/ concern in which investment is made	S.N. Financial Services	Navkar Sales	--
Date of Investments	2002	2005	--
Present value of Investments	Rs.0.850 million	Rs.0.750 million	--

Deposit held with Banks/ Companies/ Other Lender, etc.:
	Applicant	Co-Applicant	Guarantor
Name of the Bank/ Company where deposits are held	Smiriti Nagrik Co-Operative Bank	HDFC Bank Limited	Corporation Bank
Date of Deposits	Various Dates	--	--
Nature of Deposits	C.A.	C.A.	Savings
Present value of deposits	Rs.0.040 million	Rs.0.085 million	Rs.0.075 million

Shares/ Debentures/ Mutual Funds/ Units etc.
	Applicant	Co-Applicant	Guarantor
Description	Equity Shares	--	--
Date of Purchase	Various Dates	--	--
Face Value	--	--	--
Present value	Rs.0.050 million	--	--

Vehicles owned:
	Applicant	Co-Applicant	Guarantor
Model/ Make	--	Tempo ; Car (Hyundai)	--
Date of Purchase	--	2008 / 2010	--
Whether Hypothecated for loan	--	- No - / Yes	--
Details of loan against vehicle	--	- NA - / Corporation Bank – Rs.0.300 million	--
Preset market value	--	Rs.0.100 million; Rs.0.350 million = Rs.0.450 million	--

Other Assets:
	Applicant	Co-Applicant	Guarantor
Furniture and Fixtures	Rs.0.200 million	Rs.0.050 million	Rs.0.050 million
Cash in Hand	Rs.0.250 million	Rs.0.050 million	Rs.0.025 million
Jewellery	Rs.0.150 million	Rs.0.100 million	Rs.0.200 million
Plant and Machinery	--	--	--
Other Assets (1/5 shares of Agricultural Land at Manasa.)	Rs.4.000 millions	--	--
Total value of Other Assets	Rs.4.600 millions	Rs.0.200 million	Rs.0.275 million

Total Assets

Rs.15.140 millions

Rs.4.085 millions

Rs.24.450 millions

LIABILITIES:
	Applicant	Co-Applicant	Guarantor
Name of the Bank/ Institution	--	Smirti Nagarik Co-Operative Bank/ Corporation Bank	--
Nature / Type of Loan	--	C.C. Limit / Vehicle Loan	--
Date of Loan	--	2009/ 2010	--
Amount of Loan availed	--	0.250 million/ 0.300 million	--
Security offered if any	--	Residat at Janta Colony Mandoz / - No -	--
Amount outstanding	--	1) Rs.0.225 million / 2) Rs.0.260 million = Rs.0.485 million	--

Total Liabilities

--

Rs.0.485 million

--

Net Worth (Assets – Liabilities)

Rs.15.140 millions

Rs.3.600 millions

Rs.24.450 millions

__________________________________________________________________________________________

VALUATION REPORT

v Purpose of valuation

On request of B.M. Corporation Bank to get the Present market rate value of the property

v Date of visit

16/3/2011

v Person/s accompanying/available at the site at the time of visit/inspection / valuation

SHRI VIKAS ACHARYA

R/O MANDSAUR.

v

- Complete address of the property (Door No., street / cross Road, Survey No etc)

The Plot is situated at E-10 Adinath Vihar Extension Sanjeet Road, Mandsaur

- Boundaries

Recored

East -	Colony Road
West -	Plot No F-1
North -	Part Plot E-11 (House of Sindhi)
South -	Colony Road

Actual

East -	Colony Road
West -	Plot No F-1
North -	Part Plot E-11 (House of Sindhi)
South -	Colony Road

v Title to the property

- Name and address of the owner

SMT USHA WIO RAMESHWAR ACHARYA

R/O MANBSAUR.

SMT VLBHA W/O VIKAS JI ACHARYA

R/O MANDSAUR.

- Whether joint/ co-ownership/others (specify)

Sole owner ship

- Corporation Tax paid

As per Municipal rates

- Restrictive clauses as to uses, if any (whether Building use certificate from the corporation has been obtained etc.)

No

v

- Locational advantages / disadvantages

It is mid of the city

- Classification of locality Higher class / Middle class/ poor class

Middle Class

i) Civic amenities

Easily Available

ii) Proximity to surface communication

Buse Available

iii) Distance from the city / Municipal limits

2.0 KM.

iv) If the property is not within the city! Town/Municipal limits, then state the Distance of the property, from the

- Municipal Office

2.0 KM.

v) Disadvantages, if any, to be specified

No

v Title to property

a) Whether freehold

Yes

v Type of property — whether

- Residential (Flat/ Apartment)

(any restrictive clauses for sale etc., to be furnished)

School is Running

v What is the

- Number of floors / stories

Ground Floor and Second Floor

- Year of completion

2006-2007

- Additions/ improvements carried out if any state briefly nature of additions/ improvements, total cost thereof

No

- Valuer’s opinion regarding the present Condition /state of building

Good

- Estimated future life

65 Years

v

- Area of land to be supported by a map showing shape, dimensions and physical Features

It is Trapezoidal shaped Land.

v If the property is of a commercial type — state

School is Running

v Whether the property is self occupied or tenanted/ let out, if tenanted / let out:

Self Occupied

- Since how long

Till Purchase

v Basis of present valuation

- Market Value

i) Rate adopted

2325 sqft @ 1700 Rs./sqft.

= 3.953 millions

ii) Basis for adopted rates

By Local Enquiry and Market Survey

iii) Whether the adopted rates are commensurate with the rates adopted by the Registrar’s office? In case of wide variation, please specify reasons

No,

Total Cost = Cost of Land + Cost of Construction

= Rs.3.953 + 2.960 millions

= Rs.6.913 millions

Say Rs.6.913 millions only.

iv) Whether the adopted rates have any relationship with those adopted by the IT department

No

v) Whether the rates are based on prevalent rates in the area. If so, the basis for accepting the same

Yes

v In case the Bank were to sell the property, what would be the approximate realizable value

Rs.6.200 millions

v Sources of information for arriving at the forced sale value

Forced sale value is Generally 10 to 20% less than the market value

SUMMARY OF VALUATION

Name of Owner: Mrs. Usha W/o Rameshwar and Mrs. Vibha W/o Vikas Ji Acharya

R/o Mandsaur

Property: The Building is situated at Adinath Vihar Extension E Mandsaur. The Plot No. is E-10, E-11 Part

The Plot No. is B-1

Area Land: 2325 sq ft. or 216.0 Sqm

Value as per the

1) Collector Guide Line for Registration of Plot

2) Fair Market Value – Rs.6.913 millions

3) Forced Sale Value – Rs.6.200 millions

__________________________________________________________________________________________

VALUATION REPORT

v Purpose of valuation

On request of B.M. Corporation Bank to get the Present market rate value of the property

v Date of visit

17/5/2011

v Person/s accompanying/available at the site at the time of visit/inspection / valuation

SHRI VIKAS ACHARYA

v

- Complete address of the property (Door No., street / cross Road, Survey No etc)

The Land is Situated at Village Bugliya Tehsil Mandsaur. The Land Survey No is 807 Part

- Boundaries

East -	Part of Land Survey No.809 and 819
West -	Land Survey No.800
North -	Land Survey No.806
South -	Kaccha Rasta

v Title to the property

- Name and address of the owner

SMT VIBHA W/O VIKAS JI ACHARYA

R/O MANDSAUR.

SMT REKHA W/O JAGDISH JI ACHARYA

R/O MANDSAUR.

- Since how long owning the property

Till Purchase

- Whether joint/ co-ownership/others (specify)

Co-owner ship

- Corporation Tax paid

As per Nagar Panchayat

- Restrictive clauses as to uses, if any (whether Building use certificate from the corporation has been obtained etc.)

No

v

- Locational advantages / disadvantages

Advantages

- Classification of locality Higher class / Middle class/ poor class

Middle Class

i) Civic amenities

Easily Available

ii) Proximity to surface communication

Buse Available

iii) Distance from the city / Municipal limits

7 to 8 KM.

iv) If the property is not within the city! Town/Municipal limits, then state the Distance of the property, from the

a) Municipal Office

7 to 8 KM.

v) Disadvantages, if any, to be specified

No

v Title to property

- Whether freehold

No

- If not freehold, what is the unexpired period of the lease

2041

- If leasehold, name of the lessor/lessee, nature of lease, date of commencement and terms of renewal of lease

(1) Smt Vibha W/o Vikas Ji Acharya

(2) Smt Rekha W/o Jagdish Chandra Ji Acharya.

- Rent per annum

50000.00

v Type of property — whether

- Commercial

Institutional

v What is the

- Year of acquisition/ purchase of land

30/7/2010

- Value/purchase price paid

0.900 million

- Number of floors / stories

No

- Year of completion

No

- Cost of construction! purchase price

No

- Additions/improvements carried out if any state briefly nature of additions / improvements, total cost thereof

No

- Rate and amount of depreciation

No

- Present written down value

No

- Valuer’s opinion regarding the present Condition /state of building

No

- Estimated future life

No

v

- Area of land to be supported by a map showing shape, dimensions and physical Features

It is Irregular shaped Land.

- Has the whole or part of the land been notified for acquisition by Government or Statutory Body? If so, give details

No

v Whether the property is self occupied or tenanted/ let out, if tenanted / let out:

Self Occupied

v Whether the said property was valued earlier? If so

No

v Basis of present valuation

- Market Value

i) Rate adopted

143482.0 sqft @ i.e.70 Rs/sqft.

= 10.044 millions

Say Rs.10.044 millions

ii) Basis for adopted rates

By Local Enquiry and Market Survey

iii) Whether the adopted rates are commensurate with the rates adopted by the Registrar’s office? In case of wide variation, please specific reasons

Total Cost = Cost of Land + Cost of Construction

10.044 millions + 0.000

= 10.044 millions

Say Rs.10.044 millions only

iv) Whether the adopted rates have any relationship with those adopted by the IT department

No

v) Whether the rates are based on prevalent rates in the area. If so, the basis for accepting the same

Yes

v Whether the building is insured if so

i) For what value

No

ii) Against what risks

No

iii) Date of expiry of insurance

No

v In case the Bank were to sell the property, what would be the approximate realizable value

Rs.8.537 millions

v Sources of information for arriving at the forced sale value

Forced sale value is Generally 10 to 20% less than the market value

SUMMARY OF VALUATION

Name of Owner: 1) Mrs. Vibha W/o Vikas Ji Acharya

2) Mrs. Rekha W/o Jagdish Ji Acharya

R/o Mandsaur

Property: The land is situated at Village Bugliya District Mansaur. The land Survey No is 807 Part

Area Land: 1.3 Hectore or 13330.0 Sqm or 143482.0 Sqft

Value as per the

1) Collector Guide Line for Registration of Plot – 1300000.00 Rs/Hectore

2) Fair Market Value – Rs.10.044 millions

3) Forced Sale Value – Rs.8.537 millions

__________________________________________________________________________________________

FIXED ASSETS:

v TV

v Electric Appliances

v Furniture

v Books

v Computer

v Machinery

v Musical Instruments

v Utensils

__________________________________________________________________________________________

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 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.44.87
UK Pound	1	Rs.72.83
Euro	1	Rs.64.37

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	-

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