BUSINESS INFORMATION REPORT

1. Summary Information

		Country	INDIA
Company Name	BRIGHTPOINT INDIA PRIVATE LIMITED	Principal Name 1	MR. STEVEN FIVEL
Status	SATISFACTORY	Principal Name 2	MS. MANJU MOHOTRA
		Registration #	55-94807
Street Address	B - 92, 9^TH FLOOR, HIMALAYA HOUSE, KASTURBA GANDHI MARG, NEW DELHI – 110 001
Established Date	03.07.1998	SIC Code	--
Telephone#	91-11-66567000	Business Style 1	TRADER
Fax #	91-11-66567100	Business Style 2	--
Homepage	www.brightpoint.com	Product Name 1	MOBILE HANDSETS
# of employees	--	Product Name 2	--
Paid up capital	Rs.38,801,000/-	Product Name 3	--
Shareholders	FOREIGN HOLDINGS–100%	Banking	--
Public Limited Corp.	NO	Business Period	13 YEARS
IPO	NO	International Ins.	--
Public Enterprise	NO	Rating	Ba (46)
Related Company
Relation	Country	Company Name	CEO
HOLDING COMPANY	NETHERLANDS	BRIGHTPOINT HOLDING B.V.	--
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2010		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	461,157,000	Current Liabilities	666,107,000
Inventories	535,397,000	Long-term Liabilities	266,207,000
Fixed Assets	63,240,000	Other Liabilities	0.000
Deferred Assets	0.000	Total Liabilities	923.314,000
Invest& other Assets	261,000	Retained Earnings	137,640,000
		Net Worth	176,440,000
Total Assets	1,099,754,000	Total Liab. & Equity	1,099,754,000
Total Assets (Previous Year)	778,095,000
P/L Statement as of	31.03.2010		(Unit: Indian Rs.)
Sales	373,816,000	Net Profit	2,111,000
Sales(Previous yr)	3,152,596,000	Net Profit(Prev.yr)	83,658,000

MIRA INFORM REPORT

Report Date :

30.09.2011

IDENTIFICATION DETAILS

Name :	BRIGHTPOINT INDIA PRIVATE LIMITED
Registered Office :	B - 92, 9^th Floor, Himalaya House, Kasturba Gandhi Marg, New Delhi – 110 001
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	03.07.1998
Com. Reg. No.:	55-94807
Capital Investment / Paid-up Capital :	Rs.38.801 millions
CIN No.: [Company Identification No.]	U74899DL1998PTC094807
TAN No.: [Tax Deduction & Collection Account No.]	DELB04106E
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in the trading of CDMA mobile handsets manufactured by Nokia, Motorola and Samsung and GSM mobile handsets manufactured by Haier, I-Mate, HTC and O2 and its accessories.

RATING & COMMENTS

MIRA’s Rating :

Ba (46)

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

Maximum Credit Limit :	USD 710000
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 – 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

LOCATIONS

Registered Office :	B - 92, 9^th Floor, Himalaya House, Kasturba Gandhi Marg, New Delhi - 110 001, India
Tel. No.:	91-11-66567000
Fax No.:	91-11-66567100/ 7113 / 66567030
E-Mail :	sharad.sharma@brightpoint.co.in customercare@brightpoint.com services.centre@brightpoint.com hr_in@brightpoint.com cfclko@gmail.com salesindia@brightpoint.com deepak.sharma@brightpoint.com
Website :	www.brightpoint.com
Corporate Office :	76, Okhla Industrial Estate, Phase III, New Delhi - 110 020, India
Tel. No.:	91-11-66567000
Fax No.:	91-11-66567030/ 66567100/ 7113

DIRECTORS

As on 30.09.2010

Name :

Mr. Steven Fivel

Designation :

Director

Address :

1436, Gwynmere Run, Carmel, Indiana- 46032, USA

Date of Birth/Age :

19.01.1961

Date of Appointment :

28.07.1998

Din No.:

00050492

Name :

Ms. Manju Mohotra

Designation :

Alternate Director

Address :

B - 92, 9^th Floor, Himalaya House, 23, Kasturba Gandhi Marg, New Delhi - 110 001, India

Date of Birth/Age :

21.08.1950

Date of Appointment :

22.04.2002

Din No.:

00006307

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
U74899DL1998PTC094807	BRIGHTPOINT INDIA PRIVATE LIMITED	Alternate director	22-04-02	22-04-02	28-02-11	Active	NO
U72200WB2002PTC095085	ABS INFOLINK (INDIA) PRIVATE LIMITED	Director	29-09-06	03-10-05	-	Active	NO
U72900KA2006PTC039182	AOL INTERACTIVE MEDIA INDIA PRIVATE LIMITED	Director	29-10-07	19-10-06	-	Active	NO

Name :

Mr. Robert Laikin

Designation :

Director

Address :

501 Airtech Parkway, Plainfield, Indiana- 46168, USA

Date of Birth/Age :

20.05.1963

Date of Appointment :

01.11.2003

Din No.:

00050519

Name :

Mr. John Alexander Du Plessis Currie

Designation :

Director

Address :

Villa 24, Palm View, Desert Palm, Hatta Road, Dubai, United Arab, Emirates

Date of Birth/Age :

12.12.1964

Date of Appointment :

01.11.2003

Din No.:

01761773

Name :

Mr. Dipak Rao

Designation :

Alternate Director

Address :

B - 92, 9^th Floor, Himalaya House, 23, Kasturba Gandhi Marg, New Delhi - 110 001, India

Date of Birth/Age :

24.10.1954

Date of Appointment :

01.11.2003

Date of Ceasing :

06.10.2009

Din No.:

00005483

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
U74140DL2000PTC107058	SINGHANIA AND PARTNERS PRIVATE LIMITED	Director	31-07-00	31-07-00	01-02-08	Converted to LLP and dissolved	NO
U72200WB2002PTC095085	ABS INFOLINK (INDIA) PRIVATE LIMITED	Director	30-08-02	30-08-02	-	Active	NO
U74140MH2002PTC138015	ABS CONSULTING (INDIA ) PRIVATE LIMITED	Director	27-11-02	27-11-02	-	Active	NO
U74899DL1998PTC094807	BRIGHTPOINT INDIA PRIVATE LIMITED	Alternate director	01-11-03	01-11-03	06-10-09	Active	NO
U18101DL2004PTC130897	TIGER BUTTON (INDIA) PRIVATE LIMITED	Director	01-12-04	01-12-04	-	Active	NO
U72200DL2006PTC144370	POWERWAVE TECHNOLOGIES INDIA PRIVATE LIMITED	Director	02-01-06	02-01-06	31-05-07	Active	YES
U27141DL2006PTC148411	INDO GOLD RESOURCES PRIVATE LIMITED	Director	25-04-06	25-04-06	09-09-08	Active	YES
U93091DL2006PTC148426	ABS QUALITY EVALUATIONS PRIVATE LIMITED.	Director	28-04-06	28-04-06	-	Active	NO
U72900KA2006PTC039182	AOL INTERACTIVE MEDIA INDIA PRIVATE LIMITED	Director	01-05-06	01-05-06	-	Active	NO
U14101DL2006PTC148540	BENGAL EXPLORATION (INDIA) PRIVATE LIMITED.	Director	01-05-06	01-05-06	09-09-08	Active	YES
U34101DL2006PTC148993	INDIA AUTOBAHN AUTOMOBILES AND ANCILLARIES PRIVATE LIMITED	Director	20-05-06	20-05-06	-	Strike off	NO
U72200PN2006PTC131125	LIGHTBULB TECHNOLOGY SERVICES PRIVATE LIMITED	Director	03-06-06	03-06-06	23-07-10	Under liquidation	NO
U29192DL2000PTC107056	FEDDERS INTERNATIONAL AIR CONDITIONING PRIVATE LIMITED.	Director	07-06-06	07-06-06	29-01-09	Active	YES
U72200DL2006PTC150046	DYNAMIC GAMING SOFTWARE SOLUTIONS INDIA PRIVATE LIMITED	Director	23-06-06	23-06-06	05-01-07	Active	YES
U72900DL2006PTC150480	DRS VISIONSTREAM OUTSOURCING INDIA PRIVATE LIMITED	Director	03-07-06	03-07-06	03-03-08	Active	NO
U74899DL1987PTC028887	CHOICE HOSPITALITY (INDIA) PRIVATE LIMITED	Alternate director	08-01-10	18-04-07	15-02-11	Active	NO
U65929DL2007PTC166168	STANDARD AND POORS SOUTH ASIA SERVICES PRIVATE LIMITED	Director	24-07-07	24-07-07	10-03-08	Active	NO
U74900MH2007PTC173766	SECURE PARKING PRIVATE LIMITED	Director	10-10-07	10-10-07	15-02-08	Active	YES
U29150TN2008PTC066127	STAHL CRANESYSTEMS (INDIA) PRIVATE LIMITED	Director	21-01-08	21-01-08	-	Active	NO
U72200GJ2008PTC052907	DRRS ENTERPRISE RISK MANAGEMENT PRIVATE LIMITED	Director	13-02-08	13-02-08	15-03-08	Active	NO
U73200AP2008PTC058023	POWERWAVE TECHNOLOGIES RESEARCH AND DEVELOPMENT INDIA PRIVATE LIMITED	Director	06-03-08	06-03-08	-	Active	NO
U65100DL2008PTC175657	BOORTMALT INDIA HOLDINGS PRIVATE LIMITED	Director	20-03-08	20-03-08	-	Active	NO
U70101DL2008PTC176027	KZEN EQUITIES SERVICES PRIVATE LIMITED	Director	28-03-08	28-03-08	27-05-08	Active	YES
U51109MH2008PTC187835	TEST SAMPLING INTERNATIONAL INDIA PRIVATE LIMITED	Director	29-10-08	29-10-08	18-12-10	Active	NO
U74899DL2000PTC108783	ASPEN TECH INDIA PRIVATE LIMITED.	Director	28-09-09	26-05-09	30-11-10	Active	NO
U24232DL2005PTC134210	INDIA INOTEK CLINICAL RESEARCH PRIVATE LIMITED	Director	27-08-09	05-06-09	-	Under Process of Striking off	NO
U73200DL2010PTC200596	SATCON INDIA PRIVATE LIMITED	Director	22-03-10	22-03-10	-	Active	NO

Name :

Ms. James Mark Howell

Designation :

Director

Address :

1013 Summer Hill, Carmel, Indiana- 46032, USA

Date of Birth/Age :

04.01.1965

Date of Appointment :

17.06.2005

Din No.:

00050510

Name :

Mr. Hannu Ari T. Ruoppa

Designation :

Director

Address :

Deema 1 Villa, 33 The Lakes, Po Box- 92777, Dubai, UAE

Date of Birth/Age :

21.01.1958

Date of Appointment :

30.06.2005

Din No.:

01578634

Name :

Mr. Mika Juhani Sarkkinen

Designation :

Managing Director/ Chief Executive Officer

Address :

G11, 2^nd Floor, Anand Niketan, New Delhi – 110 021, India

Date of Birth/Age :

25.09.1968

Date of Appointment :

06.10.2009

Din No.:

02803855

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
U74899DL1998PTC094807	BRIGHTPOINT INDIA PRIVATE LIMITED	Managing director	30-09-10	06-10-09	-	Active	NO
U72300DL2010PTC208778	B2C EVENTURES PRIVATE LIMITED	Additional director	02-07-11	02-07-11	-	Active	NO

Name :

Mr. Alok Shankar

Designation :

Managing Director

Address :

Flat No.4237, Pocket B 5 and 6, Sector B, Vasant, Kunj, New Delhi- 110007, India

Date of Birth/Age :

04.05.1970

Date of Appointment :

21.12.2006

Date of Ceasing :

20.08.2009

Name :

Mr. Anurag Gupta

Designation :

Director

Address :

10677, Crown Court, Carmel – 46032, America

Date of Birth/Age :

30.11.1964

Date of Appointment :

06.10.2009

Din No.:

02797797

Name :

Mr. Paul Andrew Ringrose

Designation :

Director

Address :

24, Morgen Raod, Belrose – 2085, America

Date of Birth/Age :

28.11.1964

Date of Appointment :

06.10.2009

Din No.:

02799510

Name :

Mr. Anthony William Boor

Designation :

Director

Address :

5750, Stonechat Lane, Indianapolis – 46237

Date of Birth/Age :

01.09.1962

Date of Appointment :

06.10.2009

Din No.:

02797821

Name :

Mr. Raymond Bruce Thomlinson

Designation :

Director

Address :

22, Beach Road, Collary – 2097, Australia

Date of Birth/Age :

15.09.1961

Date of Appointment :

06.10.2009

Din No.:

02799520

KEY EXECUTIVES

Name :	Mr. Michael Archdeacon
Designation :	Chief Financial Officer
Name :	Mr. Rajesh Sokhal
Designation :	Head – Sales and Marketing
Name :	Mr. Russell Brown
Designation :	Head – ILS
Name :	Mr. Kalyan Kumar
Designation :	Head – HR
Name :	Mr. Srinivasan H.S.
Designation :	Director – Operations
Name :	Mr. Praveen Chandra Gupta
Designation :	Head – IT
Name :	Mr. Digvijay Nath Pandey
Designation :	Head – Care

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

Names of Shareholders (Equity Shares)	No. of Shares
Brightpoint Holding B.V., Netherlands	541586
Persequor Limited, Islands	95574
Total	637160

Names of Shareholders (Preference Shares)	No. of Shares
Brightpoint Holding B.V., Netherlands	3242903
Total	3242903

As on 30.09.2010

Equity Share Breakup	Percentage of Holding
Category
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	100.00

BUSINESS DETAILS

Line of Business :

Subject is engaged in the trading of CDMA mobile handsets manufactured by Nokia, Motorola and Samsung and GSM mobile handsets manufactured by Haier, I-Mate, HTC and O2 and its accessories.

GENERAL INFORMATION

Bankers :

Not Available

Facilities :

Unsecured Loans	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
External commercial borrowings (ECB) from Holding Company	60.110	60.111
Interest accrued and due on above	1.796	0.910
Cash credit Facilities	204.300	95.147
Total	266.207	156.168

Note: Amount repayable within one year Rs.60.111 millions, Previous year Rs. Nil. The Company had during the previous period, entered into a supplementary agreement with the holding company dated October 31, 2007 and has extended the term of the ECB by a further period of 3 years i.e. the ECB is now due on January 31, 2010. However, the Company has during the current year repaid Rs.162.294 millions to the Holding Company.

Banking Relations :	--
Auditors :
Name :	S.V. Ghatalia and Associates Chartered Accountants
Address :	Golf View Corporate Tower-B, Sector 42, Sector Road, Gurgaon – 122 002, Haryana, India
Tel. No.:	91-124-4644000
Fax No.:	91-124-4644050
Holding Company :	Brightpoint Holding B.V., Netherlands
Fellow Subsidiaries :	Brightpoint Asia, Bright Point Inc Brightpoint Australia Pty Limited Brightpoint Middle East FZE Brightpoint Solutions FZE Brightpoint Europe A/S Brightpoint Phillipines Inc Brightpoint Sweden AB Brightpoint Administration A/S Brightpoint Singapore

CAPITAL STRUCTURE

As on : 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
640000	Equity Shares	Rs.10/- Each	Rs.6.400 millions
3300000	Redeemable Cumulative Preference Shares	Rs.10/- Each	Rs.33.000 millions
	Total		Rs.39.400 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
637160	Equity Shares	Rs.10/- Each	Rs.6.372 millions
3242903	Redeemable Cumulative Preference Shares	Rs.10/- Each	Rs.32.429 millions
	Total		Rs.38.801 millions

Notes:

1. Of the above, 541,584 equity shares of Rs. 10 each are held by Brightpoint Holdings B.V. Netherlands, the Holding Company.

2. 3,242,903 redeemable cumulative preference shares of Rs. 10 each were issued on November 1, 2004 to Brightpoint Holdings B.V. Netherlands, the Holding Company and are redeemable at par at any time within a period of twenty years commencing from the date of issue of preference shares i.e. November 1, 2004 upon providing written notice to the preference shareholder. These preference shares carry dividend rate of LIBOR plus 1.5%.

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008 (15 Months)
SHAREHOLDERS FUNDS
1] Share Capital		38.800	38.801	38.801
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		137.640	116.529	54.762
4] (Accumulated Losses)		0.000	0.000	(21.891)
NETWORTH		176.440	155.330	71.672
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		266.207	156.168	225.692
TOTAL BORROWING		266.207	156.168	225.692
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		442.647	311.498	297.364
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		63.240	68.041	15.011
Capital work-in-progress including capital advances		0.238	1.583	0.000
Intangible Assets (net of accumulated amortization)		8.249	0.999	2.365
Capital work-in-progress		0.000	0.441	0.000
INVESTMENT		0.023	0.023	0.023
DEFERREX TAX ASSETS		40.450	44.434	38.608
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	535.397	281.314	242.607
	Sundry Debtors	308.599	172.400	94.161
	Cash & Bank Balances	25.588	29.811	270.627
	Other Current Assets	27.805	38.629	48.387
	Loans & Advances	99.165	140.420	104.561
Total Current Assets		996.554	662.574	760.343
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	621.701	246.995	348.247
	Other Current Liabilities	18.765	193.934	140.061
	Provisions	25.641	25.668	30.678
Total Current Liabilities		666.107	466.597	518.986
Net Current Assets		330.447	195.977	241.357
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		442.647	311.498	297.364

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008 (15 Months)
	SALES
		Income	373.816	3152.596	7207.247
		Other Income		34.432	13.710
		TOTAL (A)	373.816	3187.028	7220.957
Less	EXPENSES
		Cost of Goods Sold		2600.900	6491.676
		Personnel Expenses		189.662	227.537
		Operating and other Expenses		230.734	264.200
		TOTAL (B)		3021.296	6983.413
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		42.393	165.73	237.544
Less	FINANCIAL EXPENSES (D)			16.683	31.028
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)			149.049	206.516
Less/ Add	DEPRECIATION/ AMORTISATION (F)		39.211	16.922	38.663
	PROFIT BEFORE TAX (E-F) (G)		3.182	132.127	167.853
Less	TAX (H)		1.071	48.469	4.163
	PROFIT AFTER TAX (G-H) (I)		2.111	83.658	163.690
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(6.177)	(21.891)	(185.581)
	BALANCE CARRIED TO THE B/S		8.288	6.177	--
					--
	EARNINGS IN FOREIGN CURRENCY
		Export at FOB Value	468.677	24.250	--
	TOTAL EARNINGS		468.677	24.250	--
	IMPORTS
		Traded Goods	1059.023	1050.358	1139.480
		Capital Goods	0.821	9.073	0.000
	TOTAL IMPORTS		1059.844	1059.431	1139.480
	Earnings Per Share (Rs.)			127.44	253.05

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008 (15 Months)
PAT / Total Income	(%)	0.56	2.62	2.27
Net Profit Margin (PBT/Sales)	(%)	0.85	4.19	2.33
Return on Total Assets (PBT/Total Assets}	(%)	0.30	18.08	21.65
Return on Investment (ROI) (PBT/Networth)		0.01	0.85	2.34
Debt Equity Ratio (Total Liability/Networth)		5.28	4.01	10.39
Current Ratio (Current Asset/Current Liability)		1.49	1.33	1.47

LOCAL AGENCY FURTHER INFORMATION

NATURE OF OPERATIONS

Brightpoint India Private Limited (the Company) is a subsidiary of Brightpoint Holdings B.V. (B.P.H) Netherlands who is holding 85% paid up equity share capital and 100% cumulative redeemable preference share capital at the year end and the remaining 15% equity share capital is held by Persequor Limited, Middle East. The shareholders agreement between Brightpoint Holdings B.V. and Persequor Limited has been terminated effective January 1, 2006 vide stock purchase agreement executed between them. The shares held by Persequor Limited in Brightpoint India Private Limited are yet to be transferred to Brightpoint Holdings B.V.

The Company is engaged in trading of Nokia make CDMA mobile handsets and its accessories, CDMA handsets of Samsung and Motorola and GSM mobile handsets manufactured by HTC, Haier and O2. The Company has service centers to render after sale services to Nokia customers.

OPERATIONS

The directors are pleased to inform that during the year, the Company was engaged in a) trading of telecommunication devices of Nokia, Samsung, HTC, Micromax, Motorola and Garmin; b) trading of mobile phone accessories; c) fulfillment services to different mobile network operators; and d) rendering mobile repair services to Nokia. This is the resultant of the tremendous efforts and team work at all levels of the organization.

FUTURE OUTLOOK

The outlook for the current year is expected to be better and positive. The Company is confident to produce excellent results and achieve its mission of:

• Providing customized services to its customers

• Volumetric growth in sale of handsets to Distributors

• Distribution, customize, refurbish and repair wireless devices

• Providing marketing support for our partners

• Providing wireless telecom e‐solutions

• Providing logistics solutions to mobile operators

The Company is fully committed to complying with the relevant laws and regulations of India and meeting the expectations of its customers, partners and suppliers.

Contingent Liabilities (not provided for) in respect of:

Particulars	As on 31.03.2009 (Rs. in millions)
Dividend on Redeemable Cumulative Preference Shares (including Corporate Dividend Tax thereon)	9.654
Various cases pending at consumer forum*	Amount unascertainable

*In view of the large number of cases pending at forums, it is not practicable to furnish the details of each case.

Based on the discussions with the solicitors/meeting the terms and conditions by the Company, the management believes that the Company has a strong chance of success in the cases and hence no provision there against is considered necessary.

FIXED ASSETS

· Leasehold Improvements

· Operations Equipment

· Office Equipment

· Furniture and Fittings

· Computers

· Vehicles

· 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. 48.92
UK Pound	1	Rs. 76.51
Euro	1	Rs. 66.64

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	6
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	No
--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		46

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	-

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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.