MIRA INFORM REPORT

Report Date :

07.11.2011

IDENTIFICATION DETAILS

Name :	MONOTONA TYRES LIMITED w.e.f 19.11.1996
Formerly Known As :	SWASTIK CASSETTES LIMITED
Registered Office :	No.279,286,287(P), Dakivali, Bhiwandi Wada Road, Near Tansa River, Taluka Wada, District – Thane 421312, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	25.01.1995
Com. Reg. No.:	11-084948
Capital Investment / Paid-up Capital :	Rs. 72.000 Millions
CIN No.: [Company Identification No.]	U92199MH1995PLC084948
TAN No.: [Tax Deduction & Collection Account No.]	MUMM12402F
PAN No.: [Permanent Account No.]	AAACM6126C
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacture and Suppliers of tires and tubes
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 3220000
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 commitments. The company can be considered normal for 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 Office/ factory :	No.279,286,287(P), Dakivali, Bhiwandi Wada Road, Near Tansa River, Taluka Wada, District – Thane 421312, Maharasahtra, India
Tel. No.:	91-2526-220496/222478
Fax No.:	91-2526-220494
E-Mail :	monotona@mtnl.net.in
Website :	www.monotona.com
Head Office :	403, Embassy Center, Nariman Point, Mumbai – 400021, Maharashtra, India
Tel. No.:	91-22-22826591/92/93 91-22-22829586
Fax No.:	91-22-22826595
E-Mail :	monotona@mtnl.net.in export@monotona.com

DIRECTORS

As on 29.09.2010

Name :

Mr. Subbarathnam Ravi

Designation :

Additional director

Address :

9A, Meghdoot Apartment, 12, Rowland Road, Kolkata – 700020, West Bengal, India

Date of Birth/Age :

14.04.1949

Date of Appointment :

17.10.2008

DIN No.:

00798456

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	U72100WB2000PTC091811	Ebiz Technologies Private Limited	Director	05-05-00	05-05-00	-	Active	NO
2	U92199MH1995PLC084948	Monotona Tyres Limited	Additional director	17-10-08	17-10-08	-	Active	NO
3	L25114KA1973PLC002455	Falcon Tyres Limited	Director	29-12-09	24-10-08	-	Active	NO
4	L51909WB1932PLC007491	Jessop and Company Limited	Director	07-07-09	20-01-09	-	Active	NO
5	U50300KA2009PTC049139	Falcon Tyres Impex Private Limited	Director	13-02-09	13-02-09	10-02-11	Active	NO
6	U25113KA2009PTC049149	Falcon Tyres Rubber Private Limited	Director	16-02-09	16-02-09	16-02-11	Active	NO
7	U31909WB2008PTC127433	Schlegel Automotive India Private Limited	Additional director	24-06-09	24-06-09	-	Active	NO
8	U45201WB2005PLC095763	Jessop Shipyard Limited	Director	07-12-09	07-12-09	-	Active	NO
9	U25199KA2003PTC032070	Dunlop Polymers Private Limited	Director	24-09-10	18-07-10	-	Active	NO
10	U25190WB2011PLC166822	Dunlop East Limited	Director	25-08-11	25-08-11	-	Active	NO
11	U25190WB2011PLC166821	Dunlop South Limited	Director	25-08-11	25-08-11	-	Active	NO
12	L25191WB1926PLC008539	Dunlop India Limited	Additional director	10-09-11	10-09-11	-	Active	NO

Name :

Mr. Nirmal Kumar Modi

Designation :

Additional director

Address :

195, Rabindra Sarani, Burra Bazar, Kolkata – 700007, West Bengal, India

Date of Birth/Age :

07.05.1970

Date of Appointment :

07.11.2009

DIN No.:

00767683

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	U51909WB1996PTC080365	G N M Commercial Private Limited	Director	08-07-96	08-07-96	-	Active	NO
2	U45400WB2008PTC124639	Jessop Estate Private Limited	Director	21-10-08	21-10-08	20-06-11	Active	NO
3	U70102WB2008PTC124638	Jessop Infrastructure Private Limited	Director	21-10-08	21-10-08	20-06-11	Active	NO
4	U27100WB2008PLC128165	Jessop Wagons and Coaches Limited	Director	21-10-08	21-10-08	20-06-11	Active	NO
5	U29230WB1997PTC084936	Pallavi Manufacturers Private Limited	Director	21-10-08	21-10-08	20-06-11	Active	NO
6	U45400WB2008PTC124637	Jessop Properties Private Limited	Director	21-10-08	21-10-08	20-06-11	Active	NO
7	U40101WB1997PLC085128	Globe Sugar Refinery Limited	Additional director	31-10-08	31-10-08	30-06-11	Active	NO
8	L51109WB1982PLC035428	Sukaram Marketing Limited	Director	04-11-08	04-11-08	23-06-10	Active	NO
9	U65923WB1992PLC057312	Suryamani Financing Company Limited	Director	04-11-08	04-11-08	20-06-11	Active	NO
10	U18101WB1999PLC088745	Om Cotex Limited	Director	04-11-08	04-11-08	07-05-10	Active	NO
11	U45400WB2008PTC122396	Satarupa Properties Private Limited	Director	06-01-09	06-01-09	21-07-11	Active	NO
12	U50300KA2009PTC049139	Falcon Tyres Impex Private Limited	Director	17-02-09	17-02-09	01-07-11	Active	NO
13	U25113KA2009PTC049149	Falcon Tyres Rubber Private Limited	Director	14-08-10	17-02-09	01-07-11	Active	NO
14	U25112WB2007PLC117750	Dunlop Rubbers Limited	Additional director	04-11-09	04-11-09	28-04-10	Active	NO
15	U25112WB2007PLC117751	Dunlop Tyres Limited	Additional director	04-11-09	04-11-09	20-06-11	Active	NO
16	U92199MH1995PLC084948	Monotona Tyres Limited	Additional director	07-11-09	07-11-09	20-06-11	Active	NO
17	U31909WB2008PTC127433	Schlegel Automotive India Private Limited	Additional director	07-11-09	07-11-09	20-06-11	Active	NO
18	U25190WB1938PLC150983	India Tyre and Rubber Company (India) Limited	Director	07-12-09	07-12-09	20-06-11	Active	NO
19	U74140WB1997PTC082837	Ruia Sons Private Limited	Director	31-08-10	15-12-09	29-06-11	Active	NO
20	U45400WB2008PTC122387	Sagarika Properties Private Limited	Director	14-01-10	14-01-10	20-06-11	Active	NO
21	U24139MH1986PTC041139	Fibre Foam (Bombay) Private Limited	Director	21-01-10	21-01-10	20-06-11	Active	NO
22	U45400WB2008PTC122388	Aparupa properties Private Limited	Director	08-02-10	08-02-10	20-06-11	Active	NO

Name :

Mr. Kedarkumar Raghubardayal Agrawal

Designation :

Additional director

Address :

C-46, 4^th Floor, Highway Apartment, Behind Sionhill Fort, Sion, Mumbai – 400022, Maharashtra, India

Date of Birth/Age :

11.12.1954

Date of Appointment :

07.11.2009

DIN No.:

02836738

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	U31909WB2008PTC127433	Schlegel Automotive India Private Limited	Additional director	07-11-09	07-11-09	-	Active	NO
2	U92199MH1995PLC084948	Monotona Tyres Limited	Additional director	07-11-09	07-11-09	-	Active	NO
3	U67120WB1994PTC063813	Goldman Stocks and Share Brokers Private Limited	Director	10-05-11	10-05-11	-	Active	NO

Name :

Mr. Virendra Kumar Agrawal

Designation :

Additional director

Address :

Faltr No.433, Building No.3, Akshar Giri Kunj, Paliram Road, Andheri – West, Mumbai – 400058, Maharashtra, India

Date of Birth/Age :

12.12.1953

Date of Appointment :

01.06.2010

DIN No.:

03074691

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	L25191WB1926PLC008539	Dunlop India Limited	Director	15-06-10	11-05-10	10-09-11	Active	NO
2	U92199MH1995PLC084948	Monotona Tyres Limited	Additional director	01-06-10	01-06-10	16-08-11	Active	NO
3	U25199KA2003PTC032070	Dunlop Polymers Private Limited	Director	24-09-10	18-07-10	-	Active	NO
4	L51909WB1932PLC007491	Jessop and Company Limited	Director	11-08-10	11-08-10	16-08-11	Active	NO
5	U25190WB2011PLC166822	Dunlop East Limited	Director	25-08-11	25-08-11	-	Active	NO
6	U25190WB2011PLC166821	Dunlop South Limited	Director	25-08-11	25-08-11	-	Active	NO

Name :

Mr. Des Raj Pahwa

Designation :

Whole-time director

Address :

1552, Phase – 3, Urban Estate, Jamalpur, Ludhiana – 141010, Punjab

Date of Birth/Age :

15.10.1965

Date of Appointment :

01.07.2009

DIN No.:

00164820

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	U25112PB1974PLC003391	Metro Tyres Limited	Whole-time director	01-04-08	01-04-06	31-03-09	Active	NO
2	U92199MH1995PLC084948	Monotona Tyres Limited	Whole-time director	01-07-09	01-07-09	-	Active	NO

Name :

Mr.Prakash Pundlik Mallya

Designation :

Additional Director

Address :

46, Panduranga Nagara, Doresani Palya, Bangalore – 560076, Karnataka, India

Date of Birth/Age :

07.07.1948

Date of Appointment :

12.11.2010

DIN No.:

02412404

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	U67190MH1986PLC040506	Stock Holding Corporation of India Limited	Director	25-09-09	22-09-08	-	Active	NO
2	L74899DL1993PLC053677	IFCI Limited	Director	18-09-09	14-10-08	-	Active	NO
3	L25114KA1973PLC002455	Falcon Tyres Limited	Director	29-12-09	01-08-09	-	Active	NO
4	U51909MH2004PTC145478	Firestar International Private Limited	Additional director	05-10-09	05-10-09	27-11-09	Active	NO
5	U92199MH1995PLC084948	Monotona Tyres Limited	Additional director	12-11-10	12-11-10	10-06-11	Active	NO

Name :

Mr. Prithviraj Natrajan Kokkarne

Designation :

Additional Director

Address :

708, Mahavir Prasad block, Asiad Village, New Delhi – 110049, India

Date of Birth/Age :

03.03.1947

Date of Appointment :

12.11.2010

DIN No.:

00115317

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	U91110MH1928GAP001391	Indian Institute of Banking and Finance	Director	28-06-05	28-06-05	01-04-07	Active	NO
2	U66010DL1947GOI007158	The Oriental Insurance Company Limited	Nominee director	07-07-05	07-07-05	01-04-07	Active	NO
3	U65991MH1993GOI072051	UTI Infrastructure Technology and Services Limited	Nominee director	19-12-07	19-12-07	-	Active	NO
4	U74999MH2003GOI141849	UTI Infrastructure and Services Limited	Director	03-01-08	03-01-08	-	Active	YES
5	L65110GJ1993PLC020769	Axis Bank Limited	Director	06-06-08	09-01-08	-	Active	NO
6	U67190MH2007PTC170525	Daiwa Trustee Company (India) Private Limited	Director	17-04-08	17-04-08	-	Active	NO
7	L27104TN1991PLC020533	Surana Industries Limited	Director	31-05-08	02-05-08	-	Active	NO
8	U67190KA2007PTC043591	Brickwork Ratings India Private Limited	Director	17-05-08	17-05-08	-	Active	NO
9	L25114KA1973PLC002455	Falcon Tyres Limited	Director	30-09-08	28-06-08	-	Active	NO
10	U93000AP2008PTC062132	Levana Consultants Private Limited	Director	30-09-09	26-06-09	-	Active	YES
11	U74999TN2008PLC066902	Surana Power Limited	Director	09-06-11	26-10-09	-	Active	NO
12	L15421UP1993PLC018642	Dwarikesh Sugar Industries Limited	Director	16-03-10	30-11-09	-	Active	NO
13	U65191DL2009GOI187146	PNB Investment Services Limited	Director	31-07-10	12-12-09	-	Active	NO
14	U92199MH1995PLC084948	Monotona Tyres Limited	Additional director	12-11-10	12-11-10	09-06-11	Active	NO
15	U74999MH1994PTC079206	Eurasia Investment Advisors Private Limited	Director	30-09-11	05-05-11	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Soumitra Ghose
Designation :	Secretary
Address :	210/A, Prince Anwar, Shah Road, Kolkata – 700045, West Bengal, India
Date of Birth/Age :	17.06.1961
Date of Appointment :	17.12.2007
Pan No.:	ADXPG7907Q

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

Names of Shareholders	No. of Shares
Falcon Tyres Limited, India	5399400
Pawan Ruia Kumar	100
Sarita Pawan Kumar Ruia	100
Raghav Pawan Kumar Ruia	100
Ruia Marketing Limited, West Bengal, India	100
Dadar Drop and Finance Private Limited, West Bengal, India	100
A. Anantharaman Sadasivam	100
Manali Proprietor and Finance Private Limited, West Bengal, India	1000000
Suryamani Financing Company Limited, West Bengal, India	800000
TOTAL	7200000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2010

Category	Percentage
Bodies corporate	99.99
Other top fifty shareholders	0.01
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Suppliers of tires and tubes

Products :

Product Description	Item Code No.
Tyres and Tubes for Motor Vehicles, Tractors and Aircrafts	3101
Tyres and Tubes for Motor Cycles and Scooters and Three Wheelers	3102
Other Types and Tubes NEC	3109

PRODUCTION STATUS 31.03.2010

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Tyres	Nos.	NA	3600000	1795998
Tubes	Nos.	Na	5000000	3193364
Purchase of Tyres for Resale	Nos.	NA	--	--
Purchase of Tubes for Resale	Nos.	Na	--	7000
Purchase of Flaps for Resale	Nos.	NA	--	4996359

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

State Bank of India, Commercial Branch, Justice G.N. Vaidya Marg, Mumbai – 400023, Maharashtra, India

Facilities :

Secured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
Working Capital Finance From Bank (Secured by hypothecation of Inventories, Book Debts, and Movable Assets)	170.578	166.529
GTF Bill Discounting (Secured by Second charge of Fixed Assets)	283.082	0.000
SBI WCDL Loan (Secured by first charge on fixed assets of the company) (The above loans are also secured by personal guarantee of ex Director and by corporate Guarantee)	26.500	40.000
Total	480.160	206.529
Unsecured Loan	As on 31.03.2010 (Rs. in Millions)	As on 31.03.2009 (Rs. in Millions)
Sales Tax Loan	195.987	195.987
Almondz Finanz Limited	20.197	0.000
GTF Bill Discounting	0.000	296.857
Falcon Tyres Limited (Loan)	20.000	10.000
Religare Finvest Limited	294.773	237.989
Total	530.957	740.833

Banking Relations :	--
Financial Institution :	Global Trade Finance Limited , 6^th Floor, Metropolitan Building, Bandra (East), Mumbai – 400051, Maharashtra, India
Auditors :
Name :	Jain Anchlia and Associates Chartered Accountants
Address :	49/2, Vardhaman Colony, Bhilwara, Rajasthan – 311001, India
Tel. No.:	91-1482-221450
Mobile No.:	91-9414576615
PAN.:	AAZPJ3081D
Holding Company :	Blessing Commercial Private Limited CIN No.: U51909WB2002PTC095176
Enterprise where control exists or which exercise control :	Falcon Tyres Limited Dunlop India Limited
Associates/Subsidiaries :	Girish Commercial Private Limited Visage Equipment Private Limited Subra Marketing Private Limited Vidyut Petrochem Private Limited Manali Prosperities Private Limited India Finance Limited SPR Textiles Private Limited Ruia and Sons Private Limited Suryamani Financing Company Limited

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
7200000	Equity Shares	Rs.10/- each	Rs. 72.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
7200000	Equity Shares	Rs.10/- each	Rs. 72.000 Millions

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		72.000	64.000	64.000
2] Share Application Money		0.000	80.000	0.000
3] Reserves & Surplus		731.974	699.780	746.440
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		803.974	843.780	810.440
LOAN FUNDS
1] Secured Loans		480.160	206.529	203.362
2] Unsecured Loans		530.957	740.833	745.987
TOTAL BORROWING		1011.117	947.362	949.349
DEFERRED TAX LIABILITIES		29.392	32.450	34.879
TOTAL		1844.483	1823.592	1794.668
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		936.962	889.011	984.405
Capital work-in-progress		1.465	1.899	1.258
INVESTMENT		0.000	365.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	214.199	188.468	213.409
	Sundry Debtors	495.107	575.440	230.328
	Cash & Bank Balances	5.107	4.608	5.565
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	580.386	152.781	570.718
Total Current Assets		1294.799	921.297	1020.020
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	232.652	143.098	162.211
	Other Current Liabilities	125.279	192.742	42.535
	Provisions	30.812	17.775	6.269
Total Current Liabilities		388.743	353.615	211.015
Net Current Assets		906.056	567.682	809.005
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		1844.483	1823.592	1794.668

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	1376.414	2079.307	1887.340
		Other Income	23.818	19.050	24.841
		TOTAL (A)	1400.232	2098.357	1912.181
Less	EXPENSES
		Manufacturing and Administration Expenses	1208.621	1720.480	1689.983
		Excise Duty	84.434	117.820	155.816
		Selling and Distribution Expenses	21.316	35.852	26.000
		Increase / Decrease in Stock	(10.605)	21.818	(39.996)
		TOTAL (B)	1303.766	1895.970	1831.803
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		96.466	202.387	80.378
Less	FINANCIAL EXPENSES (D)		25.098	133.381	25.912
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		71.368	69.006	54.466
Less/ Add	DEPRECIATION/ AMORTISATION (F)		44.005	43.649	41.260
	PROFIT BEFORE TAX (E-F) (G)		27.363	25.357	13.206
Less	TAX (H)		11.527	11.058	5.314
	PROFIT AFTER TAX (G-H) (I)		15.836	14.299	7.892
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		6.700	0.212	0.132
Less	APPROPRIATIONS
		Transfer to General Reserve	3.000	3.000	3.000
		Dividend	4.320	4.113	4.113
		Tax on Dividend	0.734	0.698	0.699
	BALANCE CARRIED TO THE B/S		14.482	6.700	0.212
	FOB Value of Goods Exported		294.613	265.528	207.498
	IMPORTS
		Raw Materials	1.646	179.561	219.637
	TOTAL IMPORTS		1.646	179.561	219.637
	Earnings Per Share (Rs.)		2.47	2.23	1.44

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	1.13	0.68	0.41
Net Profit Margin (PBT/Sales)	(%)	1.99	1.21	0.69
Return on Total Assets (PBT/Total Assets}	(%)	1.23	1.40	0.66
Return on Investment (ROI) (PBT/Networth)		0.03	0.03	0.02
Debt Equity Ratio (Total Liability/Networth)		1.74	1.54	1.43
Current Ratio (Current Asset/Current Liability)		3.33	2.61	4.83

LOCAL AGENCY FURTHER INFORMATION

Notes:

The registered office address change from Unit 4, Neeru Silk Mills. Mathuradas Mills Compound, N M Joshi Marg, Lower Parel, Mumbai – 400013, Maharashtra, India to Office No.5 and 6, Hall Mark, Near Vasant Oscar, LBS Marg, Mulund – West, Mumbai – 400080, Maharashtra, India w.e.f 30.04.2007 the registered office address again changed from Office No.5 and 6, Hall Mark, Near Vasant Oscar, LBS Marg, Mulund – West, Mumbai – 400080, Maharashtra, India to Present address w.e.f 26.11.2007

PERFORMANCE

The company’s Turnover for the year has grown over previous year to Rs. 1376.400 millions, from manufacturing activities. On the filp side, the prices of the major raw material, partially natural rubber and petroleum based inputs have gone up substantially, During the year Inspite of this due to the company sustained cost reduction measure, The company was able to muster a higher profit before tax at Rs. 15.836 millions as against Rs. 14.299 millions in the previous year.

CONTINGENT LIABILITY

(Rs. in Millions)

Particular	31.03.2010	31.03.2009
1. Outstanding Letter of Credit	25.007	4.127
2. Guarantee given by bank to pollution control board	0.100	0.100
3. Corporate Guarantee	370.000	370.000
4. Regional Provident Fund Commissioner, Thane	3.544	NIL
5. Sales Tax Demands under appeal or otherwise disputed
a) Commercial Taxes officer, Chennai	0.200	NIL
b) Commercial Taxes officer , Bangalore	0.093	NIL
c) JCST (Appeals) Thane	0.599	NIL
d) Commercial Taxes officer , Ernakulam (Kerala)	0.225	NIL
e) Additional commissioner of Sales Tax (VAT) Mumbai	1.909	1.909
f) Joint Commissioner of Sales Tax Investigation (VAT) (B) Division, Mumbai	109.954	109.954
Claims not acknowledge as debts – SBI Global Factors Limited	8.107	NIL

FIXED ASSETS

• Land Freehold
• Building
• Plant and Machinery
• Moulds
• Computer
• Vehicles
• Furniture and Fixtures
• Office Equipment

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.49.08
UK Pound	1	Rs.78.65
Euro	1	Rs.67.79

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	YES
--AFFILIATION	YES/NO	YES
--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.