1. Summary Information

		Country	India
Company Name	NOKIA INDIA PRIVATE LIMITED	Principal Name 1	Mr. Shiva Kumar Dega
Status	Very Good	Principal Name 2	Mr. Petra Krishtina Terasaho
		Registration #	55-068904
Street Address	Flat No. 1204, 12^th Floor, Kailash Building, Kastruba Gandhi Marg, New Delhi-110001
Established Date	23.05.1995	SIC Code	--
Telephone#	91-11-26779191	Business Style 1	Subject is engaged in providing Communication and Internet Services
Fax #	91-11-26779090	Business Style 2	--
Homepage	http://www.nokia.co.in	Product Name 1	Mobile Phones
# of employees	200 (Approximately)	Product Name 2	Telecommunication
Paid up capital	Rs.355,793,000/-	Product Name 3	Sez Developer
Shareholders	Foreign Holding -100%	Banking	The Hong Kong and Shanghai Banking Corporation Limited
Public Limited Corp.	No	Business Period	16 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	Aa (77)
Related Company
Relation	Country	Company Name	CEO
Subsidiaries	India	Nokia India Services Private Limited	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2010		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	88,376,686,000	Current Liabilities	48,386,146,000
Inventories	11,144,737,000	Long-term Liabilities	0,000
Fixed Assets	7,051,387,000	Other Liabilities	15,296,026,000
Deferred Assets	1,087,776,000	Total Liabilities	63,682,172,000
Invest& other Assets	249,690,000	Retained Earnings	43,872,311,000
		Net Worth	44,228,104,000
Total Assets	107,910,276,000	Total Liab. & Equity	107,910,276,000
Total Assets (Previous Year)	90,561,369,000
P/L Statement as of	31.03.2010		(Unit: Indian Rs.)
Total Income	262,564,100,000	Net Profit	13,297,900,000
Total Income (Previous yr)	262,039,900,000	Net Profit(Prev.yr)	1,076,800,000

MIRA INFORM REPORT

Report Date :

12.11.2011

IDENTIFICATION DETAILS

Name :	NOKIA INDIA PRIVATE LIMITED
Registered Office :	Flat No. 1204, 12^th Floor, Kailash Building, Kastruba Gandhi Marg, New Delhi-110001
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	23.05.1995
Com. Reg. No.:	55-068904
Capital Investment / Paid-up Capital :	Rs.355.793 Millions
CIN No.: [Company Identification No.]	U74899DL1995PTC068904
TAN No.: [Tax Deduction & Collection Account No.]	DELN05529G DELN06295C
PAN No.: [Permanent Account No.]	AAACN2170R
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in providing Communication and Internet Services.
No. of Employees :	200 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

Aa (77)

RATING		STATUS	PROPOSED CREDIT LINE
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

Maximum Credit Limit :	USD 176900000
Status :	Very Good
Payment Behaviour :	Regular
Litigation :	Clear
Comments :	Subject is a part of worldwide Nokia Group. It is a well established and a reputed company having excellent track. Financial position of the company appears to the sound. Fundamental are strong and healthy. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions. It can be regarded as a promising business partner in medium to long run.

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 :	Flat No. 1204, 12^th Floor, Kailash Building, Kastruba Gandhi Marg, New Delhi-110001, India
Tel. No.:	91-11-26779191
Fax No.:	91-11-26779090
E-Mail :	pooja.3.gupta@nokia.com rkmadhvapeddi@yahoo.com pv.subba rao@nokia.com av.krishna-mohan@nokia.com pardeep.dhaka@nokia.com
Website :	http://www.nokia.co.in
Head Office :	1^st and 2^nd Floor, ‘A’ SP Infocity, Industrial Plot No. 243, Udyog Vihar, Phase 1, Dundahera, Guregaon-122016, Haryana, India
Tel. No.:	91-124-4833000
Fax No.:	91-124-4833099
Corporate Office :	4^th Floor, Commercial Plaza, Radisson Complex, National Highway No. 8, Mahipalpur, New Delhi - 110032, Delhi, India Tel. No.: 91-11-26784100/ 51779000 Fax No.: 91-11-26779149 / 52227420/ 51779145/ 42999050 E-Mail :pv.subba rao@nokia.com sanjay.bhasin@nokia.com rkmadhvapeddi@yahoo.com Website :http://www.nokia.co.in Location : Commercial Keilalahdentie 2-4, P.O. Box 226, FIN-00045 Nokia Group, Finland Tel. No.: +358 7180 08000 Fax No.: +358 7180 34003 Nokia Corporate Office - New York 102 Corporate Park Drive, WHITE PLAINS, New York 10604, USA Tel. No.: +1 914 368 0400 Fax No.: +1 914 368 0501 Nokia Latin America 703 NW 62nd Av, Suite 100, Miami FL, 33126, USA Tel. No.: +1 786 388 4002 Fax No.: +1 786 388 4030 Nokia Brazil Av das Nacoes Unidas, 12.901 Torre Norte 11o., Andar Cep 04578-910, Sao Paulo 04578-910, Brazil Tel. No.: +55 11 5508 6350 Fax No.: + 55 11 5508 0471 Nokia Greater China and Korea Nokia China Campus, Beijing Economic and Technological Development Area, No.5 Donghuan Zhonglu, Beijing, PRC 100176 Tel. No.: +86 10 8711 8888 Nokia South East Asia and Pacific 438B Alexandra Road, #07-00 Alexandra Technopark, Singapore 119968 Tel. No.: +65 6723 2323 Fax No.: +65 6723 2324 Nokia India SP Infocity, Industrial Plot no. 243,Udyog Vihar, Phase 1, Dundahera, Gurgaon, Haryana – 122016, India Tel. No.: 91-124-4833000 Fax No.: 91-124-4833099 Nokia Middle East and Africa Al Thuraya Tower II, 27^th Floor, Dubai Internet City, Dubai, UAE Tel. No.: +971 4 3697600 Fax No.: +971 4 3697604 Nokia Eurasia Stoleshnikov Per 14, 103031 Moscow, RUSSIA Tel. No.: +7495 795 0500 Fax No.: +7495 795 0509
Nokia Networks:	701, Broadway Business Center, Ellisbridge, Law Garden Ahmedabad – 380 006, Gujarat, India 2B, Mercury Block, Prestige Tech Park, Sarjapur, Marathalli Ring Road, Kadabeesanahalli, Varthur Hobli, Bangalore -560103, Karnataka, India Tel. No.: 91-80-4015 9000 Fax No.: 91-80-4015 9999 Jupiter Block, Prestige Technology Park, Sarjapur-Marathalli Outer Ring Road, Bangalore -560087, Karnataka, India Tel. No.: 91-80-40159000 Fax No.: 91-80-40159999 Salarpuria Hallmark, Ground Floor, Block A, No. 15/3, 16, Kadubeesenahalli, Outer Ring Road, Bangalore – 560103, Karnataka, India Tel. No.: 91-80-66656800 SJR iPark, Tower 1 Mobius Block Plot 13, 14 and 15, EPIP Area, Bangalore -560066, Karnataka, India 6th and 7th Floor, Forum Mart, Plot No -89 (392), Unit- III, Kharvela Nagar, Bhubneshwar -751001, Orissa, India Tel. No.: 91-674-3018120 Fax No.: 91-674-3018108 4th Floor, Sector – 17-C, SCO 60-61-62, Chandigarh - 160017, India Ascendas International Tech Park., Crest, Phase II, Unit - 2, 4th Floor, Taramani Road, Taramani, Chennai - 600113, Tamilnadu, India Tel. No.: 91-44-66530100 Fax No.: 91-44-66530301 Industrial plot #243, Udyog Vihar, Dundahera, Gurgaon - 122016, Haryana, India 724 - Peace Enclave, G S Road, 4^th Floor, City Mart Building, Near Ullubari, Flyover, Ullubari, Guwahati -781007, Assam, India NSL Ikon 3^rd Floor, Plot 1-4 Road No. 12, Banjara Hills, Hyderabad – 560034, Andhra Pradesh, India H/1 Scheme No.54, Vijay Nagar, Indore -452010, Madhya Pradesh, India S10, Subash Marg C Scheme, Jaipur – 302017, Rajasthan, India Business Communication Centre, Chiramel Chambers, Kurusapally Road, Kochin – 682015,Kerala, India 3F, Tower II, Millennium City, IT Park, Plot no 62, Block DN, Sec V, Bidhan nagar, Salt Lake, Kolkata -700091, West Bengal, India Tel. No.: 91 33 4006 2264 Fax No.: 91 33 4006 2260 9A, Rana Pratap Marg Lucknow, Lucknow – 226001, Uttar Pradesh, India C/402 Business Square Opposite Apple Heritage Chakala, Andheri (East), Mumbai – 400093, Maharashtra, India DTC Building Sitaram Building Delisle Rd, NM Joshi Marg Lower Parel East, Mumbai -400011, Maharashtra, India HDO Corporate Building Wing "A", Western Express Highway Andheri (East), Mumbai -400059, Maharashtra, India Tel. No.: 91-22-67769000 Fax No.: 91-22-67769009 Hotel Tuli International, Residency Road, Sadar – 440001, Nagpur, Maharashtra, India Building No.2,Sec-1, Millenium Business park, Mahape – 400710, Navi Mumbai, Maharashtra, India Tel. No.: 91-22-67513000 Fax No.: 91-22-67513030 Radisson Complex Commercial Plaza, Mahipalpur, New Delhi – 110 037, India Tel. No.: 91-11-42799050 Fax No.: 91-11-42799032 Vatika Business Centre, Suite No.6, Level 5, C Wing, Tech Park 1, Airport Road, Yerwada, Pune - 411 006, Maharashtra, India Tel. No.: 91-20-40111195 Fax No.: 91-20-40111045 SCO No. 367 - 368, 2F, Sec 34 A Chandigarh – 160034, India Nokia Multimedia, Networks, Enterprise Solutions 5F, Cybergreen, Building No. A and B, Cybercity, DLF - II, Gurgaon – 122002 Haryana, India Tel: 91-124-5199 000 Fax: 91-124-5199 100 Nokia, 2F, Landmark Tower Mahavir Marg, C Scheme, Jaipur - 302001 Rajasthan, India Kolkata, West Bengal, India 1F, Verma square, M-3, Gole Market, Mahanagar, Lucknow, Utter Pradesh, India 3F, 308, Krishna Plaza, Garh Road, Meerut 250004, India 2F, 202, Paradigm-B, Mindspace, Link Road, Malad (West), Mumbai – 400064, Maharashtra, India 3F. Radisson Complex Commercial Plaza. Mahipalpur, New Delhi - 110 037, India Tel: 91-11-6779000 Fax: 91-11-6779146 573 Dealing Chambers, JM Road, Maharashtra 411004, India INPUN01, 00002952, 2951 Pune city, 2951 Pune, India Nokia Telecom, SFZ Sipcot Industrial Park, Phase III, A I Chennai, Tamilnadu, India
Regional Offices:	Located at: North Regional Office: Haryana Chandigarh West Regional Offices: Andheri, Mumbai Mhape, Navi Mumabi Ahmedabad Pune East Regional Offices: · Kolkata · Lucknow South Regional Offices: · Bangalore · Hyderabad · Chennai · Tamilnadu
Overseas Office:	Located at: USA Singapore Australia China Beijing New Zealand Philippines Taiwan Vietnam Malaysia
Branches :	Located at Hyderabad Ahmedabad Mumbai Bangalore Add.: Nokia House, Gandhi Bazar Main Road, Basavanagudi, Bangalore – 560004, Karnataka, India Tel.:91-80-41189500/ 41189501

DIRECTORS

As on 08.09.2011

Name :

Mr. Shiva Kumar Dega

Designation :

Managing Director

Address :

LTH – 304, B Laburnum, Condominium Complex, Sector – 28, Gurgaon-122002, Haryana, India

Date of Birth/Age :

22.09.1959

Date of Appointment :

01.07.2006

DIN No. :

00364444

Other Directorship :

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
U74899DL1995PTC068904	Nokia India Private Limited	Managing director	1/07/2006	1/07/2006	-	Active	NO
L24246MH2000PLC129806	Godrej Consumer Products Limited	Director	25/07/2009	1/04/2009	-	Active	NO
U72900DL2010PTC211017	Nokia Mobile Payment Services India Private Limited	Director	2/12/2010	2/12/2010	17/05/2011	Active	NO

Name :

Mr. Petra Krishtina Terasaho

Designation :

Director

Address :

House No. 16, Center Drive, DLF Chandarpur Farm, New Delhi – 110030, India

Date of Birth/Age :

17.03.1966

Date of Appointment :

12.12.2007

DIN No. :

02199697

Other Directorship :

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
U74899DL1995PTC068904	Nokia India Private Limited	Director	30/09/2008	12/12/2007	-	Active	NO

Name :

Mr. Nikhil Mathur

Designation :

Director

Address :

N-214, First Floor, Greater Kailash-I, New Delhi-110048, India

Date of Birth/Age :

25.03.1967

Date of Appointment :

17.09.2010

DIN No. :

02333709

Other Directorship :

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
U74899DL1995PTC068904	Nokia India Private Limited	Director	30/09/2010	17/09/2010	-	Active	NO
U72900DL2010PTC211017	Nokia Mobile Payment Services India Private Limited	Director	2/12/2010	2/12/2010	17/05/2011	Active	NO

Name :

Mr. Benjamin Carlton Adams

Designation :

Director

Address :

15, Lawrence Place, Pelham, New York-10803, United States of America

Date of Birth/Age :

22.03.1971

Date of Appointment :

17.09.2010

DIN No. :

02726919

Other Directorship :

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
U74900DL2009PLC188379	Nokia Hcl Mobile Internet Services Limited	Director	10/09/2010	29/07/2009	20/06/2011	Active	NO
U74899DL1995PTC068904	Nokia India Private Limited	Director	30/09/2010	17/09/2010	-	Active	NO

Name :

Mr. Prakash Katma

Designation :

Director

Address :

10A/16, V G M Street, Nungambakkam Chennai-600034, Tamilnadu, India

Date of Birth/Age :

21.10.1976

Date of Appointment :

30.09.2010

DIN No. :

03268635

KEY EXECUTIVES

Name :	Mr. Pardeep Kumar Dhaka
Designation :	Secretary
Address :	A-153, 2^nd Floor, Saraswati Vihar, Pitampur, New Delhi-110034, India
Date of Birth/Age :	11.01.1979
Date of Appointment :	08.08.2011
Income Tax No. :	APDPK1141A

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 08.09.2011

Names of Shareholders	No. of Shares
Nokia Corporation, Finland	35579299
Nokia Singapore Private Limited	1
Total	35579300

Equity Share Break up (Percentage of Total Equity)

As on 08.09.2011

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in providing Communication and Internet Services.
Products/ Services :	Mobile Phones Telecommunication Sez Developer

PRODUCTION STATUS AS ON 31.03.2010

Particulars	Unit	Licensed Capacity	Installed Capacity*	Actual Production
Mobiles	No.	NA	250000000	125633289

* As certified by the management and relied upon by the auditors, being a technical matter.

Licensed capacity not applicable

GENERAL INFORMATION

No. of Employees :	200 (Approximately)
Bankers :	The Hong Kong and Shanghai Banking Corporation Limited

Banking Relations :	--
Auditors :
Name :	Price Waterhouse Chartered Accountants
Address :	Building 10, Tower C, DLF Cyber, Gurgaon-122002, Haryana, India
PAN.:	AAEFP3641G
Holding Company :	Nokia Corporation
Subsidiary Company :	Nokia India Services Private Limited
Fellow Subsidiaries :	· Intellisync Corporation · Nokia (China) Investment Company Limited · Nokia Australia Pty Limited · Nokia do Brasil Tecnologia Limited · Nokia Komarom KFT · Nokia Oyj, Finland · Nokia Products Limited, Canada · Nokia PTE Limited · Nokia Romania · Nokia Siemens Networks Oyj, Finland · Nokia Siemens Networks Private Limited · Nokia TMC Limited · Nokia U. K. Limited · Symbian Software India Private Limited · Symbian Software Limited · Nokia Telecommunications Limited, Beijing · Nokia Denmark A/S · Nokia (H. K.) Limited – Hong Kong · Nokia Japan Company Limited · Nokia Inc., USA · Nokia Asset Management Oy · Nokia GmbH · Nokia West Africa (Nigeria) Limited · Nokia Siemens Networks Sp. z o.o.

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
36000000	Equity Shares	Rs.10/- each	Rs.360.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
35579300	Equity Shares	Rs.10/- each	Rs.355.793 Millions

Of the above 35579300 equity shares are held by the holding company Nokia Corporation, Finland and 1 equity share is held by Nokia (Singapore) Pte Limited

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		355.793	355.793	355.793
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		43872.311	30574.397	19597.567
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		44228.104	30930.190	19593.360
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		0.000	0.000	0.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		44228.104	30930.190	19953.360
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		7051.387	6599.868	5405.612
Capital work-in-progress		249.590	1298.019	1102.419
INVESTMENT		0.100	0.100	0.000
DEFERREX TAX ASSETS		1087.776	581.507	336.231
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	11144.737	10769.604	10495.361
	Sundry Debtors	52416.641	38702.535	14738.428
	Cash & Bank Balances	15007.108	14108.503	14209.560
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	20952.937	18501.233	21405.972
Total Current Assets		99521.423	82081.875	60849.321
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	28560.306	29950.240	21015.370
	Other Current Liabilities	19825.840	14959.507	15669.887
	Provisions	15296.026	14721.432	11054.966
Total Current Liabilities		63682.172	59631.179	47740.223
Net Current Assets		35839.251	22450.696	13109.098
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		44228.104	30930.190	19953.360

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	262564.100	262039.900	214133.757
		Other Income
		TOTAL (A)	262564.100	262039.900	214133.757
Less	EXPENSES
		Office Expenses
		Administrative Expenses	245702.300	244930.000	198921.891
		Advertising Expenses
		TOTAL (B)	245702.300	244930.000	198921.891
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		16861.800	17109.900	15211.866
Less	FINANCIAL EXPENSES (D)		12.100	1.900	171.915
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		16849.700	11498.000	15039.951
Less/ Add	DEPRECIATION/ AMORTISATION (F)		3172.900	2805.000	1856.997
	PROFIT BEFORE TAX (E-F) (G)		13676.800	14303.000	13182.954
Less	TAX (H)		378.900	3326.200	3471.232
	PROFIT AFTER TAX (G-H) (I)		13297.900	10976.800	9711.722
	EARNINGS IN FOREIGN CURRENCY
		Export of Goods	126574.124	104732.247	64813.031
		Service Income	5832.966	5070.704	2934.063
	TOTAL EARNINGS		132407.090	109802.951	67747.094
	IMPORTS
		Raw Materials	159469.815	130619.047	108180.234
		Stores & Accessories	1962.508	846.502	483.423
		Others	42328.947	78590.072	69841.826
	TOTAL IMPORTS		203761.270	210055.621	178505.483
	Earnings Per Share (Rs.)		373.75	308.52	272.95

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	5.06	4.18	4.54
Return on Total Assets (PBT/Total Assets}	(%)	12.83	16.13	21.66
Return on Investment (ROI) (PBT/Networth)		0.31	0.46	0.67
Debt Equity Ratio (Total Liability/Networth)		1.44	1.93	2.44
Current Ratio (Current Asset/Current Liability)		1.56	1.37	1.27

LOCAL AGENCY FURTHER INFORMATION

Note:

The Registered office of the company has been shifted from Radisson Complex, Commercial Plaza, 2^nd Floor, National Highway No. 8, Mahipalpur, New Delhi - 110 032, India to present address w.e.f. 01.11.2010

PERFORMANCE OF THE COMPANY:

The performance of the company during the financial year 2009-10 was satisfactory. Although the revenues of the company increased marginally by 0.20% (approximately), the exports from Chennai factory increased significantly by 21% y-o-y basis. The Net Profit before taxes has decreased by 0.25% of turnover due to constraining market forces. The directors of the company are very optimistic and confident of ensuring high growth performance in the upcoming financial years.

FUTURE PROSPECTS:

The Future prospects of the company are quite promising. The company has launched various new models of Mobile phones catering to specific needs of various sections of consumers in the market. Some of the new entrants among them are already a big hit throughout the nation.

Besides, the bright potential of mobile handset market, the performance of the services business of the company is also very encouraging. The mobile/ internet based services provided by the company under Ovi flagship brand has successfully established itself in the market and is growing at a very fast pace. The company has aggressive plans to use Ovi services and other mobile solution products to achieve new growth models in the upcoming year.

CONTINGENT LIABILITIES (AS ON 31.03.2010)

a) Counter Guarantees given to banks against guarantees given by banks Rs.47.500 Millions (Previous Year Rs.47.500 Millions.)

b) Customs Duty, Income Tax, FEMA, Sales Tax and Service Tax demands of Rs.885.394 Millions (Previous Year Rs.487.842 Millions). Against this the Company has deposited a sum of Rs.455.819 Millions (Previous Year Rs.181.114 Millions).

c) In respect of other disputes with various authorities which are under litigation there is presently no contingent liability.

d) The estimated amount of contracts remaining to be executed on capital account and not provided for as on march 31, 2010 are Rs.136.309 Millions (Previous Year Rs.249.627 Millions)

FIXED ASSETS:

• Leasehold Land
• Plant Building
• Leasehold Improvements
• Measuring and Test Bed
• Computers – Hardware
• Plant and Machinery
• Office Machinery
• Office Equipments
• Vehicles
• Furniture and Fixtures
• Computer – Software

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.50.28
UK Pound	1	Rs.80.08
Euro	1	Rs.68.45

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	9
OPERATING SCALE	1~10	9
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	9
--PROFITABILIRY	1~10	9
--LIQUIDITY	1~10	9
--LEVERAGE	1~10	9
--RESERVES	1~10	9
--CREDIT LINES	1~10	9
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		77

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.