MIRA INFORM REPORT

Report Date :

30.03.2011

IDENTIFICATION DETAILS

Name :	PERU CONSULATE

Registered Office :	6, K. Dubash Marg, Ador House, Fort, Mumbai, Maharashtra

Country :	India

Date of Incorporation :	Not Divulged

Legal Form :	It’s a Consulate Office of Peru Government.

Line of Business :	Not Divulged

RATING & COMMENTS

MIRA’s Rating :

RATING

STATUS

PROPOSED CREDIT LINE

26-40

Capability to overcome financial difficulties seems comparatively below average.

Small

Status :	Moderate

Payment Behaviour :	Unknown

Litigation :	Clear

Comments :	Subject is a consulate office of Peru Government in India. The management denied to disclose any information about the subject. The report is made available from indirect sources of information. Initially, subject can be considered for business dealings with some caution.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – April 1, 2010

Country Name

Previous Rating

(31.12.2009)

Current Rating

(01.04.2010)

India

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

LOCATIONS

Registered Office :	6, K. Dubash Marg, Ador House, Fort, Mumbai, Maharashtra, India
Tel. No.:	91-22-22871089
Fax No.:	91-22-22043625
Website :	dubash@dubash.com

Sri Lanka Office :	Alliance House, 84, Ward Place, Colombo – 7, Sri Lanka

Kolkata Office :	The Legacy, 2^nd Floor, 25 A, Shakespeare, Sarani, Kolkata – 700017, India

MEMBERS

Name :	Mr. Ardeshir B.K. Dubash
Designation :	Honorable Consul of Peru

Name :	Mr. Gopal Prasad Poddar
Designation :	Honorable Consul of Peru

BUSINESS DETAILS

Line of Business :

Not Divulged

GENERAL INFORMATION

Bankers :

Not Divulged


Banking Relations :	--

Auditors :	Not Divulged

CAPITAL STRUCTURE

Capital Investment :
Owned :	Not Divulged
Borrowed :	Not Divulged
Total :	Not Divulged

FINANCIAL DATA

[all figures are in Rupees Millions]

Not Divulged

LOCAL AGENCY FURTHER INFORMATION

India-Perú relations have traditionally been cordial and friendly. Since the 1990s, there has been an increasing economic and business content to the relations. The visit by EAM in June 2003, the first ever bilateral visit by any EAM from India, has given a fresh impetus to bilateral relations [Peru was also then the Chair of the Rio Group and Lima is the head quarter of Andean Community (CAN)]. Earlier, President of Peru’s State Visit to India in 1997 followed by the state visit of the President of India to Peru in May 1998 were important milestones in relations. (A Prime Minister level visit in 1968 was cut-short after a coup in Peru). On the Peruvian side, an enhanced interest in the Asian Region due to Apec membership, coupled with India’s image as a technologically advanced democratic developing country as well as increased bilateral trade, has enhanced India’s importance. Peru is also a member of G-15 and NAM.

Visit of President of India to Peru – The President of India, Shri K.R. Narayanan visited Peru in April/ May 1998. The first-ever Presidential level visit from India to Peru. An MOU on space cooperation between ISRO nad the Peruvian National space Organization (CONIDA) was signed during the visit. The MOU envisages cooperation in development and use of remote sensing techniques and satellite-based metrological applications.

President Fujimori’s visit to India – Peruvian President Alberto Fujimori accompanied by a 39-member delegation visited India in May 1997. The visit provided an excellent opportunity to enhance awareness among Peruvians about India’s industrial capabilities. The following agreements of mutual cooperation were signed:

Agreement between Indian Council of Agricultural Research (ICAR) AND THE national Institute of agricultural Research of Peru (INIA).
Agreement on Scientific, Technical and Logistical Cooperation concerning the Antarctica:
Agreement on Tourism Cooperation:
MOU on Annual Foreign Office Consultations:
Agreement on Technical Cooperation:
Agreement between Foreign Service Institute and Diplomatic Academy of Peru.

Separately, two business agreements were also signed:

1. An Agreement on the establishment of Joint Business Council between the Peruvian Confederation of Private Enterprises (CONFIEP) and FICCI & ASSOCHAM.
2. Protocol for cooperation between NASSCOM and the Peruvian Chamber of Software (Camara Peruana de Software – CPS)

Visit of EAM – EAM, accompanied by a high level CII business delegation visited Peru on 3-4 June 2003. This visit coincided with the 40th anniversary of diplomatic relations. EAM called on President Toledo and held talks with then Foreign Minister Allan Wagner. His meeting with then Peruvian Minister for Education triggered cooperation in IT. Two Indian IT experts visited Peru in March 2006 under ITEC programme for the project Huascaran. He also met with the First Vice President & Minister of External Trade & Tourism. Peru announced its support to India’s candidature for permanent membership in an expanded UN Security Council. The two countries signed a joint statement that inter alia covered subjects like WTO issues, sustainable development, bio-diversity, climate change, poverty alleviation, fight against terrorism and reactivation of agreements signed. An agreement on abolition of visas for holders of diplomatic and official passports was also signed. An invitation from their Rashtrapatiji to visit India was also handed to President Toledo.

On the multilateral side, on behalf on Andean Community (CAN), Foreign Minister Wagner signed an agreement with EAM to establish regular contacts between India & CAN. EAM also met with the Secretary General of the Andean Community (CAN).

40TH anniversary celebrations – India and Peru celebrated the 40th anniversary of the establishment of diplomatic relations on March 26, 2003. Foreign Minister Wagner hosted a special ceremony on March 21 to commemorate the event. A reception attended by Foreign Minister, was also held at the Embassy Residence. A special supplement on India was brought out in Peru’s leading daily “El Comercio” on March 26 while a painting competition on India was organized at the Chancery premises on March 22.

Visit by First Lady to India – First Lady of Peru Dr. Eliane Karp, attended the conference on “ Dialouge among civilizations- Quest for new perspectives” as a Special Invitee of the Government of India. The conference was organized by the MHRD and UNESCO in New Delhi from July 9 – 10, India. Dr. Karp is an anthropoligist by background. She said that India could be the model for integrating and uplifting the diverse and backward communities in Peru and the entire Latin America.

Visit of MOS(Defense) – MOS(Defense), Shri Rao Inderjit Singh, paid an official visit to Peru in June 2006. He had discussions with the Defense Minister of Peru and the President-elect Alan Garcia about cooperation between the two countries in various fields including defense, agriculture and pharma.

Foreign Office Level Consultations – The third round of Bilateral Foreign Office Level Consultations was held between India and Peru in June 2005 in Lima. The Peruvian Delegation was led by Mrs. Martha Chvarri Dupuy. Under Secretary for Asia and Pacific Basin in the Peruvian Foreign Ministry and Secretary (West) Mrs. Shashi Tripathi led the Indian Delegation. JS (LAC) visited Lima in August 2006 for meetings in the Foreign Office and the Andean Community.

Peru and the Nuclear issue – Peru has traditionally supported a Latin American nuclear weapons free zone and has been sharply critical of nuclear testing. However, in the case of India in 1998, the Peruvian Foreign Office issued only a mildly worded statement keeping in mind Peru’s growing friendly relations with the India. Furthermore, the Peruvian Congress refrained from any resolution on the issue. It may be noted that after the Pakistani action.

Peruvian position on the Kashmir issue – Peru has traditionally shown understanding of the Indian position on Kashmir and has been sympathetic and appreciative of India’s responsible restraint even in the face of grave provocation. Peru supports India’s Position that such conflicts should be resolved bilaterally through dialogue and not be internationalized.

Peruvian position on the reform of the UN – Peru has expressed support to India, Brazil & Germany’s candidature for a permanent seat in an expanded UNSC. They were nebulous in the case of Japan Given that they had a bilateral extradition problem regarding former Peruvian President Fujimori.

India Community – The Indian Community in Peru is quite small, around 70-80 families, mainly engaged in business and trade, while few are professionals. In addition, there are some Indian national with the Missionaries of charity and other Christian organizations in Lima, Chimbote and Puno. India origin organizations like Hare Krishna, Sai Baba and Brahma Kumaris are also present.

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.44.67
UK Pound	1	Rs.71.62
Euro	1	Rs.63.09

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.

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